Vision CSP24 Abhyaas T01CQ freeupscmaterials.org

.

# #*((

)$ 2
3 2
3

*$ ""
3

+$ '-!.,'&,*1'-*'$$-%*'&,!+,''#$,"&
,!'0(*'."$'& +"3 /*", '&
,!+,''#$,3

,$ !"++,''#$,'&,"&+0( ",%+4-+,"'&+53!",%"+(*"&,"&$!",%'%(*"++'-*
*+('&++4&+/*+53'-/"$$+$,,!*+('&+/!"!1'-/&,,'%*#'&,!&+/*!,3 &+1'-
$,!,,!*"+%'*,!&'&'**,*+('&+2%*#,!*+('&+/!"!1'-'&+"*%'+,((*'(*",3
&&1+2!''+*+('&+'*!",%3

-$ '- !. ,' %*# $$ 1'-* *+('&++ '& ,! +(*, &+/* !, (*'."3 "*,"'& "& ,!
&+/*++!,3

.$ $$",%+**1)-$%*#+3,,%(,$$",%+3'-*,',$%*#+/"$$(&'&$1'&,!&-%*'
%*#11'-"&,!&+/*+!,3'*!*+('&+%',!$$',,
/"$$-,3

/$ '*1'-(*','%*#"&,!&+/*+!,,!*+('&+,'.*"'-+",%+"&,!+,''#$,21'-!.
,' "$$ "& +'% (*,"-$*+ "& ,! &+/* +!,+ + (* ,! "&+,*-,"'& +&, ,' 1'- /",! 1'-* %"++"'&
*,"",3

0$ ,*1'-!.'%($,"$$"& "&$$*+('&++'&,!&+/*+!,&,!0%"&,"'&!+'&$-2
1'-+!'-$!&'.*,' &." "$,'*'&$1,!&+/*+!,3'-*(*%",,,',#/1/",!1'-,!+,
''#$,3

1$ !,+'**'- !/'*#*((&"&,!+,''#$,,,!&3

:///3."+"'&"+3"&6"+"'&

.

)KC8;H 3 ?I 7::;: JE 4 7D: J>; IKC 7I;: ED J>; 78EL; F7II7=; J>; <EBBEM?D=
E8J7?D;:?I5 M>;H;347D:57H;I?D=B; 7IIKCFJ?EDI>7L;8;;DC7:;

:?=?JE::FH?C;?DJ;=;HIJ>;DJ>;EDBOFEII?8B; />; (K=>7B 7:C?D?IJH7J?ED 8O C7A?D=
L?BB7=;I J>; KD?JI E< 7II;IIC;DJ 7?C;: JE
L7BK;E<35?I
<EIJ;H 7 I;DI; E< I;B< =EL;HD7D9; 7D:
7
;CFEM;HBE97B9ECCKD?J?;I
8
/>; (K=>7B 7:C?D?IJH7J?ED ;D:;7LEKH;:
9 JE EFJ?C?I; J>; 799KCKB7J?ED E< ?JI
: <?D7D9?7BH;IEKH9;I
2>?9> E< J>; 7IIKCFJ?EDI =?L;D 78EL; ?I 7H;
9EHH;9J
7 EDBO

8 EDBO

9 EJ> 7D:

: );?J>;H DEH
"
/>; I?CFB;IJ <EHC E< B7D: H;L;DK; M7I 9HEF I>7H?D= "
!HECJ>?II?CFB;I>7H?D=M;97DJH79;J>;;LEBKJ?EDE< />; ?:;7 E< IKIJ7?D78B; :;L;BEFC;DJ >7I 8;;D J>;H;
EJ>;H IOIJ;CI E< 7II;IIC;DJ M>?9> M;H; :;I?=D;: JE ;L;H I?D9; >KC7D 8;?D=I IJ7HJ;: KI?D= D7JKH7B
H;:K9; J>; 8KH:;D E< MEHA 7D: ;NF;DI;I <EH J>; H;IEKH9;I <EH J>;?H :;L;BEFC;DJ BB <EHCI E<
:;L;BEFC;DJ 8; ?J ;9EDEC?9 ;:K97J?ED7B
(K=>7B 7:C?D?IJH7J?ED *D; IK9> 7II;IIC;DJ C;J>E:
J;9>DEBE=?97B7=H?9KBJKH7BEHIE9?7B>7L;J7A;D7JEBB
M7I&7DAKJ&7D=H7?D&KJ;IJ?C7J; 99EH:?D=
ED J>; 9EDIKCFJ?ED E< ;DL?HEDC;DJ7B H;IEKH9;I />;
JEED;E<J>;B;7:?D=>?IJEH?7DIED;C7@EH7?CE<J>;
:;9B7H7J?ED E< J>; 0D?J;: )7J?EDI ED<;H;D9; ED
(K=>7B 7:C?D?IJH7J?ED M7I JE J7A; 7M7O J>; 8KBA E<
#KC7D DL?HEDC;DJ H;9E=D?P;: J>; <?D?J; D7JKH; E<
J>; F;7I7DJYI IKHFBKI />; I>7H;I E< J>; 9HEF J7A;D H;IEKH9;I 7L7?B78B; ED ;7HJ> 7D: ;CF>7I?P;: J>;?H
KD:;H J>; X87J7?Y EH &7DAKJ L7H?;: M?J> 9HEFI 7D: @K:?9?EKI KI; JE H;C7?D 7L7?B78B; <EH <KJKH;
BE97B?J?;I $D )EHJ>;HD $D:?7 J>; KD?J E< 7II;IIC;DJ =;D;H7J?EDI $D J>; 0) ";D;H7B II;C8BO
M7I J>; L?BB7=; />; H;L;DK; :K; <HEC 7 L?BB7=; M7I ;IJ78B?I>;: 7 9ECC?II?ED M>?9> B7J;H 97C; JE 8;
ADEMD7IJ>;2EHB:ECC?II?EDED DL?HEDC;DJ7D:
<?N;:H;=7H:?D=?JIFHE:K9J?L;97F79?JOKIK7BBO<EHJ>;
;L;BEFC;DJ 2 JE 9EC; KF M?J> 7 H;FEHJ ED
O;7H #EM;L;H J>?I IKC M7I DEJ :?IJH?8KJ;: 8O
J>; IJ7J; E< J>; ;DL?HEDC;DJ 7D: FHEFEI; IKIJ7?D78B;
7II;IIEHIEL;HJ>;?D:?L?:K7BF;7I7DJI
:;L;BEFC;DJJEJ>;O;7H 7D:8;OED:
///3."+"'&"+3"& ; 6"+"'&

.

2>?9> E< J>; <EBBEM?D= IJ7J;C;DJI 8;IJ 7I;: ED J>; 78EL; F7II7=; J>; <EBBEM?D=
H;<B;9JI J>; CEIJ BE=?97B 9HK9?7B 7D: H7J?ED7B 7IIKCFJ?EDI>7L;8;;DC7:;

/>; :;JH?C;DJ7B ;<<;9JI E< >KC7D 79J?L?JO
C;II7=;9EDL;O;:8OJ>;F7II7=;
EDJ>;;DL?HEDC;DJ7H;?DJ;H9EDD;9J;:7D:
7 .KIJ7?D78?B?JO D;9;II?J7J;I >7BJ?D= 7BB
97I97:?D=?DD7JKH;
:;L;BEFC;DJMEHAI
/>; F;HD?9?EKI 9EDI;GK;D9;I E< >KC7D
8 />; ?CF;H7J?L; E< IKIJ7?D78B; 79J?EDIEDJ>;;DL?HEDC;DJ7H;?HH;F7H78B;
:;L;BEFC;DJ 7H?I;I <HEC J>; ?D>;H;DJ 7D:97DDEJ8;H;L;HI;:
9EDIJH7?DJI?CFEI;:8OJ>;<?D?J;D7JKH;E< ;?D= J>; HEEJ 97KI; E< ;DL?HEDC;DJ7B
7HJ>IH;IEKH9;I :;=H7:7J?ED J>;H; ?I 7 D;;: JE H;:K9; J>;

KH87DFEFKB7J?EDEDBO
9 />; =;D;I?I E< IKIJ7?D78B; :;L;BEFC;DJ
97D8;JH79;:879AJEJ>;;<<EHJIE<0D?J;:

)7J?EDI7D:2
7 7D:EDBO
: )ED;E<J>;78EL; 8 7D:EDBO
9 EDBO
" : BB 7D:
#KC7D 79J?L?J?;I 7H; 97KI?D= H7F?: ;DL?HEDC;DJ7B

.K8JH79J?D= <HEC 7 DKC8;H 7D: J>;D
9>7D=;I ED J>; 7HJ> #KC7DI >7L; =H;7JBO ?CF79J;:
CKBJ?FBO?D= J>?I H;IKBJ 8O ?I ;GK?L7B;DJ JE
J>; ;DL?HEDC;DJ ?D9BK:?D= ?CF79JI ED 8?EF>OI?97B
CKBJ?FBO?D=J>;EH?=?D7BDKC8;H8O7D:J>;D
;DL?HEDC;DJI 9ECFEI?J?ED :?L;HI?JO E< J;HH;IJH?7B
IK8JH79J?D=
;9EIOIJ;CI 7D: EJ>;H H;IEKH9;I ;J9 >7D=;I ?D 7
;DL?HEDC;DJ7B B?C?J?D= <79JEHI 97KI;: 8O >KC7DI 7H; 8
B?A;BOJEH;IKBJ?D7C7@EHBEIIE<FB7DJ:?L;HI?JOFB7DJ 9
:
9ECCKD?J?;I :EC?D7J;: 8O M;;:?;H IF;9?;I 97D
9>7D=;J>;;9EBE=?97B<KD9J?ED?D= *DEKH9KHH;DJF7J>
$<F7D:F7H;FH?C;DKC8;HIIK9>J>7JF
?9; 97F C;BJ M?BB 97KI; I;7 B;L;BI JE H?I; JE B;L;BI
F 7D:FF?I7<79JEHE< J>;D>EM
M>;H; C7DO C7@EH 9?J?;I M?BB 8; 7J L;HO >?=> H?IA E< C7DOL7BK;IE<F?I 7H;FEII?8B;
<BEE:?D= 7D: D7JKH7B :?I7IJ;HI M?BB 97KI; :7C7=; JE 7
EKH9ECCKD?J?;I7J97J7IJHEF>?9B;L;BIED7CK9>CEH; 8
H;=KB7H87I?I BBJ>;I;FHE8B;CI7H;;N79;H87J;:8O7D 9

:
;L;H =HEM?D=>KC7DFEFKB7J?ED
///3."+"'&"+3"& < 6"+"'&

Free Upsc Premium Channel www.freeupscmaterials.org/premium
.

$D 7 9;HJ7?D 9E:; "$1 ) ?I MH?JJ;D 7I
(1%# #EM MEKB: .#-& 8; MH?JJ;D ?D

J>7J9E:;
7 %.$/
8 %,$/ "
9 /$,% ;CE9H79O 7D: (;:?7 7H; JME C7@EH ;B;C;DJI ?D J>;
FHE9;II E< :;L;BEFC;DJ 7I :;L;BEFC;DJ ?I DE BED=;H
: %,$/
L?;M;: 7I J>; IEB; H;IFEDI?8?B?JO E< J>; ;B;9J;:
=EL;HDC;DJI $D J>?I ;H7 E< =BE87B?P7J?ED J>; C;:?7
@7O ?DJ;D:;: JE EH:;H F7?HI E< 8B79A IE9AI
>7I;C;H=;:7IED;E<J>;CEIJFEM;H<KB9ECFED;DJI
7D:IEC;F7?HIE<8BK;IE9AI />;FH?9;E<J>;
E< IE9?7B C7D7=;C;DJ />; HEB; E< C7II C;:?7 ?D
8B79A IE9AI F;H F7?H M7I JM?9; J>7J E< 8BK;
I>7F?D= FK8B?9 EF?D?ED ?I M;BB ADEMD KJ <HEC J>;
#EM;L;H J>; EH:;H M7I ?D9EHH;9JBO <?BB;: ?D :7OI E< J>; 7F?J7B?IJ H;LEBKJ?ED J>; FH;II M7I
IK9>7C7DD;HJ>7JJ>;DKC8;HE<F7?HIE<J>; 799EH:;: J>; IJ7JKI E< J>; <EKHJ> ;IJ7J; <EH DE EJ>;H
JME 9EBEKHI =EJ ?DJ;H9>7D=;: />?I ?D9H;7I;: H;7IEDJ>7D?JIFEM;HJE?D<BK;D9;J>;C?D:I7D:J>KI
J>; 8?BB 8O !?D: J>; DKC8;H E< F7?HI E< 799;B;H7J; J>; FEB?J?97B FHE9;II ?D <7LEKH E< 8EKH=;E?I
8BK;IE9AI?DJ>;EH?=?D7B?DJ;D:;:EH:;H :;CE9H79O />; HEB; E< C;:?7 ?I JME<EB: *D J>; ED;
7 >7D: J>; C;:?7 ?D<BK;D9;I J>; FEB?9OC7A;HI 8O
8 FKJJ?D=<EHJ>J>;EF?D?EDI;NFH;II;:8OL7H?EKI=HEKFI
9 ?D9BK:?D=;:K97J?ED?IJI@EKHD7B?IJI7D:;NF;HJIB;7:;HI
: E<:?<<;H;DJFEB?J?97BF7HJ?;IH;B?=?EKIB;7:;HIMEHA;HI
F;7I7DJI 0D?EDI ;J9 *D J>; EJ>;H >7D: J>; C;:?7
.?NFEI?J?L;?DJ;=;HI789:;7D:<>7L;7D FH;IIKH?P;I J>; FEB?9O C7A;HI EH J>; 7KJ>EH?J?;I JE 79J
?D H;IFEDI; JE F;EFB;I ?DJ;H;IJI 7D: :;C7D:I 8O
7L;H7=;E< $JYI7BIEADEMDJ>7J789
EF;D?D=7:;87J;7D:;:K97J?D=J>;C7II;I
:;< 2>7J9EKB:8;J>;=H;7J;IJH7J?EE<:
JE9
2>?9> E< J>; <EBBEM?D= IJ7J;C;DJI 97D 8;
7
?D<;HH;:<HECJ>;78EL;F7II7=;
8
/>; C;:?7 I;HL;I 7I 7 9ED:K?J 8;JM;;D
9
9?J?P;DI7D:FEB?9OC7A;HI
: />; HEB; E< J>; <EKHJ> ;IJ7J; ?I ?D>;H;DJBO
8?7I;: JEM7H:I FHECEJ?D= 8EKH=;E?I
/>H;;:?<<;H;DJ<79;IE<79K8;7H;9EBEKH;:?D :;CE9H79O
J>H;;:?<<;H;DJ9EBEKHIU8B79A=H;;D7D:8BK; />; H?I; E< C;:?7 7I 7 FEM;H<KB
/>?I 9K8; ?I DEM 9KJ ?DJE IC7BB;H 8KJ 9ECFED;DJ E< IE9?7B C7D7=;C;DJ 9EC;I
?:;DJ?97B9K8;I )7H;J>;DKC8;HE<9K8;IJ>7J 7JJ>;9EIJE<J>;:;CE9H7J?9;J>EI
7H;DEJ9EBEKH;:ED7DOE<J>;?H<79;I 2>?9> >EEI; J>; 9EHH;9J 7DIM;H KI?D= J>; 9E:;I
E<J>;<EBBEM?D=8;IJ;IJ?C7J;IJ>;L7BK;E<) =?L;D8;BEM
7 ) 7 EDBO
8 Q)Q 8 7D:EDBO
9 Q)Q 9 EDBO
: 7D:EDBO
: )
///3."+"'&"+3"& = 6"+"'&

.

" "
/>; FHE9;II E< IE9?7B?P7J?ED 8;=?DI 7J 8?HJ> $J ?I 7
$DH;9;DJO;7HIJ>;H;>7I8;;D7D;DEHCEKI?D9H;7I;?D
9EDJ?DKEKIFHE9;II8;97KI;IE9?7BB;7HD?D=D;L;H;D:I
J>;IJK:?;IEDIE9?7BCEL;C;DJ?D$D:?7 />;=HEMJ>E< #EM;L;H9>?B:>EE:?IJ>;CEIJ?CFEHJ7DJIJ7=;?DJ>;
?DJ;H;IJ?IB7H=;BO7H;IKBJE<J>;?D9H;7I?D=DKC8;HE< FHE9;II E< IE9?7B?P7J?ED :KH?D= M>?9> 7 9>?B:
?DJ;HD7B?P;I EH B;7HDI CEIJ E< J>; L7BK;I 8;B?;;
DEHCI 7JJ?JK:;I 7D: 8;>7L?EKH F7JJ;HDI E< ?JI <7C?BO
CE:;HD $D:?7D MEHA?D= 9B7II 7HEI; 8;97KI; E< J>; />;F7H;DJI97D8;L?;M;:7IJ>;IE9?7B?P?D=7=;DJI $D
:;L;BEFC;DJ7D:=HEMJ>E<<79JEHO?D:KIJH?;I?D$D:?7 IEC; IE9?;J?;I J>; ;:K97J?ED 7D: IE9?7B?P7J?ED E< J>;
OEKD=J7A;FB79;M?J>EKJ;NJ;DI?L;<EHC7B;:K97J?ED7B
<HEC J>; I;9ED: >7B< E< J>; D?D;J;;DJ> 9;DJKHO $J ?I ?DIJ?JKJ?EDI 2; C7O 7BIE C;DJ?ED J>7J 7BB B;7HD?D= ?I
>EM;L;H78EKJJ>;JKHDE<J>;JM;DJ?;J>9;DJKHO?JJEEA DEJ IE9?7B?P7J?ED I?D9; IEC; E< M>7J ED; B;7HDI C7O
DEJ8;H;B;L7DJEHD;9;II7HO<EHF7HJ?9?F7J?ED?D=?L;D
J>; I>7F; E< J>; MEHA?D= 9B7II />; 79J?EDI E< J>;
IE9?7BHEB;I
MEHA?D= 9B7II ?D J>; ;7HB?;IJ IJ7=; M;H; IFEH7:?9 7D:
KDEH=7D?P;:7D:>;D9;M;H;CEIJBO?D;<<;9J?L; $JM7I 2>?9>E<J>;<EBBEM?D=IJ7J;C;DJIH;<B;9JIJ>;
CEIJ BE=?97B H7J?ED7B 7D: 9HK9?7B C;II7=;
EDBO <HEC J>; B7J; J> 9;DJKHO ?D (7:H7I 7D: <HEC
9EDL;O;:8OJ>;7KJ>EHE<J>;F7II7=;
J>;I;9ED::;97:;E<J>;JM;DJ?;J>9;DJKHO?DEC87O 7 9>?B:I<EHC7J?L;O;7HII;JJ>;IJ7=;<EH
7 B?<;J?C; E< IE9?7B B;7HD?D= 7D:
J>7J I;H?EKI 7JJ;CFJI M;H; C7:; <EH J>; <EHC7J?ED E<
8;>7L?EKH7B:;L;BEFC;DJ
7IIE9?7J?EDI J>7J 9EKB: B;7: JE EH=7D?P;: <EHCI E< 8 BBJ>;ADEMB;:=;M;F?9AKFJ>HEK=>EKJ
FHEJ;IJI EKH B?L;I 9EDJH?8KJ;I JE J>; FHE9;II E<
IE9?7B?P7J?ED
9 <;M IE9?;J?;I :E DEJ D;;: <EHC7B
2>?9> E< J>; <EBBEM?D= IJ7J;C;DJI 8;IJ ;:K97J?EDIOIJ;C7J7BB
H;<B;9JI J>; CEIJ BE=?97B H7J?ED7B 7D: 9HK9?7B : +7H;DJI 7H; J>; CEIJ ?CFEHJ7DJ 7=;DJI E<
IE9?7B?I7J?ED<EHJ>;?H9>?B:H;D
C;II7=;9EDL;O;:8OJ>;F7II7=;
7 BB IE9?7B CEL;C;DJI ?D FEIJ 9EBED?7B "
$D 7DO :?I9KII?ED EH :?I9EKHI; ED IE9?7B 9>7D=; ?D
$D:?7 7H; :?H;9JBO H;B7J;: JE J>; MEHA?D=
$D:?7D IE9?;JO J>; ?CF79J E< J>; H?J?I> 9EBED?7B HKB;
9B7II E99KF?;I 7D ?CFEHJ7DJ FB79; />; H?J?I> 9EBED?7B
8 />;IK99;IIE<IE9?7BCEL;C;DJI:;F;D:I HKB;HIJE8H?D=78EKJ:;I?H;:9>7D=;I?DJ>;FE?DJIE<
L?;M E< J>; F;EFB; 8HEK=>J EKJ 7 D;M IOIJ;C E<
IEB;BO ED J>;?H B;L;B E< EH=7D?P7J?ED 7D:
;:K97J?ED $DJ>;?D?J?7BIJ7=;IH?J?I>HKB;?D<BK;D9;:
<EHC7B7IIE9?7J?EDI J>;FEHJ7D:9E7IJ7B9?J?;I D;MIOIJ;CE<;:K97J?ED
9 />;;F?IE:?9D7JKH;E<;7HBOMEHA?D= 9B7II M7I?DJHE:K9;:JE79>?;L;J>;=E7BE<DKHJKH?D=79B7II
?D $D:?7 M>?9> MEKB: IKIJ7?D H?J?I> HKB; /E I;HL;
79J?EDI9EDJH?8KJ;:JEJ>;?H?D;<<;9J?L;D;II J>;?H ?DJ;H;IJI J>; H?J?I> HKB; ?DJHE:K9;: 7 D;M
?D79>?;L?D=J>;:;I?H;:EKJ9EC;I 2;IJ;HD ;:K97J?ED D;M C;7DI E< JH7DIFEHJ 7D:
9ECCKD?97J?EDD;MJ;9>DEBE=O7D:7D;MIOIJ;CE<
: .JK:O E< IE9?7B CEL;C;DJI ?D $D:?7 ?I
@K:?9?7HO />;I;?DJKHDH;B;7I;:D;M<EH9;IE<9>7D=;
B78EKH9;DJH?9 7D:J>;$D:?7DIE9?;JO9EKB:D;L;H8;J>;I7C;7=7?D
///3."+"'&"+3"& > 6"+"'&

.

7I;: ED J>; 78EL; F7II7=; J>; <EBBEM?D= !EKHF;HIEDI 7D:7H;FEI?J?ED;:7J
7IIKCFJ?EDI>7L;8;;DC7:; J>;<EKH9EHD;HIE<7F?;9;E<7FBEJ7II>EMD

/>; 9EBED?7B ;:K97J?ED IOIJ;C FB7O;: 7 ?DJ>;<EBBEM?D=:?7=H7C
97J7BOP?D= HEB; ?D FEI?J?L; IE9?7B
JH7DI<EHC7J?EDIM?J>?D$D:?7DIE9?;JO
/>; H?J?I> JH7?D;: 9E7IJ7B $D:?7 JE 9H;7J;
>KC7D H;IEKH9;I M>?9> 97D >;BF ?D J>;?H
;NFEHJIMEHB:M?:;
9EHH;9J
!HEC J>;?H EH?=?D7B FEI?J?EDI 7D: CEL;
7 EDBO
ED;7D:7>7B<B;D=J>E<J>;I?:;?D9BE9AM?I;
8 EDBO
:?H;9J?ED 2>?9> ED; E< J>; <EBBEM?D=
9 EJ> 7D:
IJ7J;C;DJICKIJDEM8;JHK;
: );?J>;H DEH
7 EJ> 7D: 7H; 7J J>; C?:FE?DJI
8;JM;;D7D:
EDI?:;HJ>;<EBBEM?D=IJ7J;C;DJI
8 ?I7JJ>;C?:FE?DJ8;JM;;D7D:7D:
$ ?IJ>;8HEJ>;HE<
?I7JJ>;9EHD;HE99KF?;:8O
$$ ?IJ>;8HEJ>;HE<
$$$ ?IJ>;8HEJ>;HE< 9 ?I 9BEI;H JE J>7D >; ?I JE 7D: ?I
$1 ?IJ>;I?IJ;HE< 9BEI;HJEJ>7D>;?IJE
: ?I 9BEI;H JE J>7D >; ?I JE 7D: ?I
2>?9> E< J>; <EBBEM?D= IJ7J;C;DJI ?I 9BEI;HJEJ>7D>;?IJE
D;9;II7H?BOJHK;
7 ?IJ>;I?IJ;HE< *D;C7D97D:E7ICK9>MEHA?D:7OI7I7
8 7D:7H;8HEJ>;HI JH7DI=;D:;H 97D :E ?D :7OI MEC7D :E;I
9 7H;C7B;I7D:?I7<;C7B; J>H;; <EKHJ> J>; MEHA ?D 7 :7O 7I 7
: 7D: 7H;I?IJ;HI JH7DI=;D:;H 9EDJH79JEH >?H;I F7?HI E<

>7D:I C;D JH7DI=;D:;HI 7D: MEC;D ?D J>;
/>; <EBBEM?D= I;GK;D9; ?I =;D;H7J;: 8O H7J?E 7D: F7OI J>;C ?D 7BB -I 7J
:?L?:?D=8OD7JKH7BDKC8;HI J>;;D:E<J>;:7OYIMEHA 2>7JCKIJJ>;:7?BO
3 M7=; E< 7 JH7DI=;D:;H 8; ?< J>; M7=;I 7H;
2>7J?I3 FHEFEHJ?ED7BJEJ>;7CEKDJE<MEHA:ED;
7 7 -I
8 8 -I
9 9 -I
: : -I
///3."+"'&"+3"& ? 6"+"'&

.

/>H;; IJ7J;C;DJI 7H; <EBBEM;: 8O JME #EMC7DOEH:;H;:JH?FB;JINOPI7J?I<OJ>;
9ED9BKI?EDI DKC8;H;: $ 7D: $$ 4EK >7L; JE ;GK7J?EDNOP M>;H;NO7D:P7H;

J7A; J>; =?L;D IJ7J;C;DJI JE 8; JHK; ;L;D ?< D7JKH7BDKC8;HI:?L?I?8B;8O
J>;O I;;C JE 8; 7J L7H?7D9; M?J> 9ECCEDBO 7
ADEMD<79JI7D:@K:=;J>;9ED9BKI?EDIEDJ>;?H 8
9
87I?I
:
.J7J;C;DJI
$ .EC;<HEEJ?7H;C77P7
?HJ>:7O E< 7 9>?B: 3 <7BBI ED (ED:7O IJ
$$ )EC77P7?IIB?9;
%7DK7HO !?D: EKJ ?D M>?9> KF9EC?D=
$$$ BBIB?9;7H;<7DJ7
O;7H3M?BB9;B;8H7J;>?I8?HJ>:7O7=7?DEDJ>;
I7C;:7O
ED9BKI?EDI 7
$ .EC;<HEEJ?7H;:;<?D?J;BODEJIB?9; 8
$$ .EC;<7DJ77H;:;<?D?J;BODEJC77P7 9
:
2>?9> E< J>; 9ED9BKI?EDI =?L;D 78EL; ?I 7H;
9EHH;9J
7 *DBO9ED9BKI?ED$<EBBEMI
8 EJ>9ED9BKI?EDI$7D:$$<EBBEM
9 );?J>;H9ED9BKI?ED$DEH$$<EBBEMI

"
: *DBO9ED9BKI?ED$$<EBBEMI
=H?9KBJKH;M?J>?JI7BB?;:I;9JEHI?IJ>;B7H=;IJIEKH9;
E< B?L;B?>EE: ?D $D:?7 F;H 9;DJ E< ?JI HKH7B
$D7F7HJOEKJE<JEJ7B=K;IJI 7H;MEC;D
>EKI;>EB:I IJ?BB :;F;D: FH?C7H?BO ED 7=H?9KBJKH; <EH
$< E< J>; =K;IJI 7H; C7HH?;: 9EKFB; ? ;
J>;?H B?L;B?>EE: 2>?B; 79>?;L?D= <EE: IK<<?9?;D9O ?D
<EHC 7 F7?H E< >KI87D: M?<; 7D: H;IJ 7H;
FHE:K9J?ED $D:?7 IJ?BB 799EKDJI <EH 7 GK7HJ;H E< J>;
KDC7HH?;: J>;D M>?9> E< J>; <EBBEM?D=
MEHB:YI>KD=HOF;EFB;7D:?I>EC;JEEL;H C?BB?ED
IJ7J;C;DJI?I 7H;9EHH;9J KD:;HDEKH?I>;:F;EFB; 2>?B;7=H?9KBJKH;?D$D:?7>7I
BBC;D7H;C7HH?;: 79>?;L;: =H7?D I;B< IK<<?9?;D9O J>; FHE:K9J?ED ?I
(EH;J>7D MEC;D7H;KDC7HH?;: H;IEKH9; ?DJ;DI?L; 9;H;7B 9;DJH?9 7D: H;=?ED7BBO
.;B;9J J>; 9EHH;9J 7DIM;H KI?D= J>; 9E:;I 8?7I;: />; H;IEKH9; ?DJ;DI?L; M7OI E< $D:?7D
=?L;D8;BEM 7=H?9KBJKH; >7L; H7?I;: I;H?EKI IKIJ7?D78?B?JO ?IIK;I
7 EDBO JEE />; ?D9H;7I;: <;C?D?I7J?ED E< 7=H?9KBJKH; ?I
8 EDBO C7?DBO :K; JE ?D9H;7I?D= HKH7B KH87D C?=H7J?ED 8O
9 EJ> 7D: C;DJ>;H?I;E<MEC;D >;7:;:>EKI;>EB:I7D:=HEMJ>

?DJ>;FHE:K9J?EDE<B78EKH ?DJ;DI?L;97I>9HEFI
: );?J>;H DEH
///3."+"'&"+3"& @ 6"+"'&

.

7I;: ED J>; 78EL; F7II7=; J>; <EBBEM?D= 2>?9> E< J>; <EBBEM?D= IJ7J;C;DJI 97D 8;
?D<;HH;:<HECJ>;78EL;F7II7=;
7IIKCFJ?EDI>7L;8;;DC7:;
EDJ;CFEH7HO $D:?7D IE9?;JO :;IF?J;
$D:?7 IK<<;HI <HEC 7 F7H7:EN E< <EE: ;NF;H?;D9?D= C7@EH JH7DI<EHC7J?EDI IJ?BB
KF>EB:IIEC;JH7:?J?ED7B=;D:;HHEB;I
IK<<?9?;D9O 7D: F;HI?IJ;DJ >KD=;H ;N?IJ?D=
$D:?7D IE9?;JO ?I B7==?D= ?D =;D:;H
I?CKBJ7D;EKIBO ;GK7B?JO 9ECF7H;: JE EJ>;H IE9?;J?;I
$D $D:?7D 9EDJ;NJ <;C?D?I7J?ED E< KD:;H=E?D=I?C?B7HJH7DI<EHC7J?EDI
>EEI; J>; 9EHH;9J 7DIM;H KI?D= J>; 9E:;I
7=H?9KBJKH; M?BB DEJ B;7: JE MEC;D =?L;D8;BEM
;CFEM;HC;DJ 7 EDBO
8 EDBO
2>?9> E< J>; 7IIKCFJ?EDI =?L;D 78EL; ?I 7H; 9 EJ> 7D:
9EHH;9J : );?J>;H DEH
7 EDBO
2>7J ?I J>; IKC E< J>; <?HIJ FEI?J?L; ;L;D
8 EDBO ?DJ;=;HI
7
9 EJ> 7D:
8
: );?J>;H DEH 9
:
" .?N$DL;IJEHI &7L?J7'7NC7D(7D?I>)?H7@

EDJ;CFEH7HO $D:?7D IE9?;JO >7I 8;;D ;NFEI;: JE J>; *C 7D: +7HL7J? FKH9>7I;: :?<<;H;DJ DKC8;H
E7H;I E< #0' ECF7DO )E JME F;HIEDI
8HE7: FHE9;II;I E< IE9?7B JH7DI<EHC7J?ED 7=H?9KBJKH7B FKH9>7I;:J>;I7C;DKC8;HE7H;I !KHJ>;H
CE:;HD?P7J?ED 7D: ;9EDEC?9 :;L;BEFC;DJ ?JYIADEMDJ>7J
/>H;; F;EFB; 8EK=>J CEH; I>7H;I J>7J
KH87D?P7J?EDH7F?:?D:KIJH?7B?P7J?ED7D:=BE87B?P7J?ED &7L?J78KJB;IIJ>7D*C
$J?IDEJ;DEK=>JEI7OJ>7J7DOIE9?;JO9EDI?IJIE<C;D +7HL7J? M>E FKH9>7I;: I>7H;I
FKH9>7I;:B;III>7H;IJ>7D)?H7@
7D:MEC;D $J?I;GK7BBO?CFEHJ7DJJEBEEA7J>EMJ>;
(7D?I>FKH9>7I;:I>7H;IM>?9>?IB;II
JME =HEKFI E< F;EFB; ?DJ;H79J 7I M;BB 7I 7J J>; HEB;I J>7DM>7J'7NC7D8EK=>J
2>;DJ>;O7H;7HH7D=;:?D7I9;D:?D=EH:;H
7D:;NF;9J7J?EDI;79>=HEKF>7IE<J>;EJ>;H />;<?HIJ
E< J>; DKC8;H E7H;I 8EK=>J (7D?I>
?:;7ED=;D:;HHEB;:?<<;H;D9;IM>?9>79>?B:79GK?H;I 7D:'7NC7D7H;7:@79;DJJE;79>EJ>;H
*C :?: DEJ FKH9>7I; J>; C7N?CKC
?IJ>7JE<MEC;DE<ED;YI<7C?BOC7HHO?D=7D:B;7L?D=
DKC8;HE7H;I
J>;?H >EC;I JE B?L; M?J> :?<<;H;DJ =HEKFI E< F;EFB; #EM C7DO IJ7J;C;DJI =?L;D 78EL; 7H;
)EJEDBO?IMEC;DYIFHE:K9J?L;MEHAM?J>?DJ>;>EKI; H;GK?H;: JE :;J;HC?D; M>E FKH9>7I;: J>;
C7N?CKCDKC8;HE7H;I
KDF7?: 8KJ 7BIE ?J E<J;D ?I DEJ KD:;HIJEE: >EM J>; 7 *DBOJME
CKBJ?FB?9?JO E< HEB;I C7O H;IKBJ ?D 9ED<B?9J ?D J>;?H 8 BB<?L;
9 *DBOJ>H;;
F;H<EHC7D9; : *DBO<EKH
///3."+"'&"+3"& A 6"+"'&

.

*D 7 JOF?97B :7O 7 H;IJ7KH7DJ I;BBI D =H?BB;: $<J>;9EIJE<B?L?D=?D79;HJ7?D9?JO?D9H;7I;:
9>;;I; I7D:M?9>;I <EH F :EBB7HI ;79> /E:7O 8O ?DJ>; O;7HI<HEC JE 7D:

>EM;L;H J>; C7D7=;H H;:K9;: J>; FH?9; E<
?D9H;7I;:8O ?DJ>; O;7HI<HEC JE
=H?BB;: 9>;;I; I7D:M?9>;I 8O 7D: 7I 7
M>7JM7IJ>;F;H9;DJ?D9H;7I;?DJ>;9EIJ
H;IKBJ IEB: CEH; E< J>;C J>7D KIK7B
2>?9>E<J>;<EBBEM?D=H;FH;I;DJIJ>;H;L;DK; E<B?L?D=<HEC JE
<EHJE:7OYI=H?BB;:9>;;I;I7D:M?9>I7B;I 7
7 D F 8
8 DF
9
9 DF
:
: DF
EDI?:;H J>; <EBBEM?D= ,K;IJ?ED 7D: J>; EDI?:;H J>; <EBBEM?D= IJ7J;C;DJI 7D:
.J7J;C;DJI
9ED9BKI?EDI
,K;IJ?ED />;H; 7H; C;C8;HI 8>?D7L
.J7J;C;DJI
>7LD7 >7D:7 ;;FK 7D: H7F7BB? ?D 7
<7C?BO 2>7J ?I J>; H;B7J?ED E< H7F7BB? M?J> $<7D:7H;M>EB;DKC8;HIIK9>J>7J
>7LD7

.J7J;C;DJ 8>?D7L 7D: >7LD7 7H; 7

C7HH?;:9EKFB;

.J7J;C;DJ ;;FK?IJ>;<7J>;HE<>7D:7
.J7J;C;DJ H7F7BB??I;;FKIIED
.J7J;C;DJ 8>?D7L7D:>7D:77H;I?IJ;HI ED9BKI?EDI
$ ?IJ>;IC7BB;IJDKC8;H7D:
2>?9> ED; E< J>; <EBBEM?D= ?I 9EHH;9J ?D
$$ ?IJ>;B7H=;IJDKC8;H7D:
H;IF;9JE<J>;78EL;,K;IJ?ED7D:.J7J;C;DJI
$$$ ?IJ>;B7H=;IJDKC8;HEH
7 .J7J;C;DJ .J7J;C;DJ 7D:.J7J;C;DJ
7H;IK<<?9?;DJJE7DIM;HJ>;,K;IJ?ED
8 .J7J;C;DJ .J7J;C;DJ 7D:.J7J;C;DJ 2>?9>E<J>;78EL;9ED9BKI?EDI?I 7H;JHK;
7H;IK<<?9?;DJJE7DIM;HJ>;,K;IJ?ED 7 *DBOB
9 BB <EKH IJ7J;C;DJ JE=;J>;H 7H; IK<<?9?;DJ
8 *DBOBB
JE7DIM;HJ>;,K;IJ?ED
9 EJ>B7D:BBB
: BB <EKH IJ7J;C;DJI JE=;J>;H 7H; DEJ
IK<<?9?;DJJE7DIM;HJ>;,K;IJ?ED : *DBOBBB
///3."+"'&"+3"& B 6"+"'&

.

"
/>; 9EKDJHOI BED=;IJ I;7 8H?:=; J>; AC BED= I?N

B7D; J7B .;JK M7I ?D7K=KH7J;: H;9;DJBO !EHC7BBO

97BB;: J>; J7B ?>7H? 17@F7O;; .;M7H? )>7L7 .>;L7
"
J7B .;JK EH J>; (KC87? /H7DI #7H8EKH '?DA J>;
*+YI :;9B7H7J?ED 7IA?D= 9EKDJH?;I JE VJH7DI?J?ED
7M7OW <HEC <EII?B <K;BI ?I 9;HJ7?DBO >?IJEH?9 KJ J>7J 8H?:=;>7I8;;D8K?BJ7J79EIJE<-I 9HEH; O
EDBO ?D:?97J;I >EM B?JJB; 0)! C;;JI >7L; KI?D=?J9ECCKJ;HIM?BB8;78B;JE9KJJ>;JH7L;BJ?C;
79>?;L;:I?D9;J>;+7H?I+79JE< /MEO;7HI7=E 8;JM;;D 9;DJH7B (KC87? 7D: J>; <7IJ =HEM?D= )7L?
7J"B7I=EM:;B;=7J;I>7:?IIK;:797BBJEVF>7I;:EMD (KC87? <HEC >EKHI JE 78EKJ C?DKJ;I KJ
EKJ 9E7BW 8KJ J>; ?IIK; H;C7?D;: 9EDJ;DJ?EKI 7D:
L?;M?D= J>; J7B .;JK C;H;BO 7I 7 M7O JE :;9ED=;IJ
:?L?I?EDI 7CED=IJ D7J?EDI M;H; ;L;D I>7HF;H ED
J>; JH7<<?9 ME;I ?D $D:?7I <?D7D9?7B 97F?J7B MEKB: 8;
;B?C?D7J?D=7BB<EII?B<K;BI $DJ>;HKD KFJE*+?J
M7I7FF7H;DJJ>7JFKJJ?D=J>;C7JJ;HEDJ>;879A8KHD;H 7A?D JE C?II?D= J>; <EH;IJ <EH J>; JH;;I $J ?I ?D:;;:
>7:FKI>;:J>;MEHB:F;H?BEKIBO9BEI;JEJ>;J>H;I>EB: 7DEJ>;HA;OIJ;F?D$D:?7I8?:JEJH7DI<EHCDEJEDBO?JI
8;OED: M>?9> 9B?C7J; 9>7D=; 8;9EC;I ?HH;L;HI?8B; F>OI?97B ?D<H7IJHK9JKH; 8KJ 7BIE ?JI =BE87B ?C7=; 7I 7D
L;DJ>;DK87?I>EM97I;:J>;:?<<?9KBJOE<<H7C?D= ?DL;IJC;DJ :;IJ?D7J?ED !E9KI ED 8EEIJ?D=
7B7D=K7=;ED<EII?B<K;B;B?C?D7J?ED799;FJ78B;JE7BB ?D<H7IJHK9JKH; U 8; ?J F>OI?97B EH :?=?J7B U ?I E<
<J;H MEHA?D= EL;HJ?C; :;B;=7J;I 7=H;;: ED 7
F7H7CEKDJ ?CFEHJ7D9; ?< $D:?7 M7DJI JE JHKBO J7A;
:;9B7H7J?ED J>7J 97BBI <EH 7 VJH7DI?J?ED?D= 7M7O <HEC
7:L7DJ7=; E< J>; :?I;D9>7DJC;DJ M?J> >?D7 J>7JI
<EII?B <K;BI ?D ;D;H=O IOIJ;CI ?D 7 @KIJ EH:;HBO 7D:
;GK?J78B;C7DD;HW $J7::H;II;IJ>;9ED9;HDIE<$D:?7 I;JJ?D= ?D I;L;H7B F7HJI E< J>; MEHB: ;L;BEF;:
>?D7 7D: EJ>;H ;C;H=?D= ;9EDEC?;I #EM;L;H J>; 9EKDJHOC7HA;JI7D:?DL;IJEHI7H;BEEA?D=<EH9EKDJH?;I
<7?BKH; JE I;9KH; ;NFB?9?J 9ECC?JC;DJI 7D: I;J J7H=;JI J>7J97DH;FB79;>?D7?DJ>;=BE87BIKFFBO9>7?D $D:?7
I;;CI JE >7L; :?I7FFE?DJ;: IC7BB ?IB7D: IJ7J;I 7D: 97D B;L;H7=; J>?I EFFEHJKD?JO JE 8;9EC; 7 :;L;BEF;:
EJ>;H9EKDJH?;ICEIJLKBD;H78B;JE9B?C7J;9>7D=; />;
9EKDJHO?DJ>;D;NJGK7HJ;HE<79;DJKHO
:;9B7H7J?EDC;H;BOJ7BAIE<V799;B;H7J?D=79J?ED?DJ>?I
9H?J?97B:;97:;JE79>?;L;D;JP;HE8O ?DA;;F?D=
M?J> J>; I9?;D9;W />?I ?I 7J 8;IJ 7D ?D9H;C;DJ7B 2>?9> ED; E< J>; <EBBEM?D= IJ7J;C;DJI 8;IJ
7:L7D9; H;<B;9JIJ>;9HKNE<J>;F7II7=;
7 J7B .;JK H;<B;9JI J>; F;7A E< J>;
2>?9> ED; E< J>; <EBBEM?D= IJ7J;C;DJI 8;IJ :;L;BEFC;DJ E< F>OI?97B ?D<H7IJHK9JKH; ?D
H;<B;9JIM>7J?I?CFB?;:8OJ>;F7II7=; $D:?7
7 +7H?I +79J 7D: J>; F79JI J>;H;7<J;H =7L; 7
8 />; 7:L7DJ7=;I E< 8K?B:?D= J7B .;JK =E
8?= 8EEIJ JE 9B?C7J; 9>7D=; C?J?=7J?ED
<7H 8;OED: C;H; F>OI?97B ?D<H7IJHK9JKH;
;<<EHJI=BE87BBO
8 BBJ>;9EKDJH?;I>7L;KD7D?CEKIBO7=H;;: :;L;BEFC;DJ
EDJ>;;B?C?D7J?EDE<<EII?B<K;BI 9 J7B .;JK M?BB >;BF :;9ED=;IJ J>; JH7<<?9
9 />;H; ?I 7 B79A E< 9EDI;DIKI ED J>; ME;I?D(KC87?
9ED9H;J; IJ;FI H;GK?H;: <EH 7 HE8KIJ : (7DO <EH;IJI >7L; 8;;D 9KJ JE 9EDIJHK9J
9B?C7J;79J?ED<H7C;MEHA
J7B.;JK
: B?C7J;9>7D=;?I?HH;L;HI?8B;DEM
///3."+"'&"+3"& :9 6"+"'&

.

" 2?J> H;<;H;D9; JE J>; F7II7=; J>; FEII?8B;
2EC;DYI;CFEM;HC;DJ?I7FH;H;GK?I?J;<EH79>?;L?D= 7:L7DJ7=;I E< KI?D= :HED; J;9>DEBE=O ?D
7=H?9KBJKH;?D9BK:;
1?AI?J >7H7J EH :;L;BEF;: $D:?7 />; )(* HED;
<<?9?;DJ 7FFB?97J?ED E< F;IJ?9?:;I 7D:
?:? .9>;C; FHEL?:;I D;M MEHA EFFEHJKD?J?;I JE
<;HJ?B?P;HI
MEC;D $J C7A;I J>;C J>; 879A8ED; E< J>; HKH7B
(7A?D= 7=H?9KBJKH; 9ECFB;J;BO I;B<
;9EDECO />?I M?BB =E 7 BED= M7O ?D C7A?D= EKH
IK<<?9?;DJ
7=H7H?7D<7C?BO9KBJKH;CEH;;GK?J78B;7D:IJHED=;H $D9H;7I;:7=H?9KBJKH7BFHE:K9J?L?JO
MEC7D :HED; F?BEJ 97D FB7O 7 L?J7B HEB; ?D ?D9H;7I?D= /?C;I7L?D=
7=H?9KBJKH7B FHE:K9J?L?JO 7D: ;<<?9?;D9O />; -;:K9J?ED?D>7H:I>?FI<EH<7HC;HI
7FFB?97J?ED E< F;IJ?9?:;I 7D: B?GK?: <;HJ?B?P;HI J>HEK=> 2>?9> E< J>; IJ7J;C;DJI =?L;D 78EL; ?I 7H;
:HED;IM?BBDEJEDBOI7L;J>;F>OI?97BJE?B7D:>7H:I>?F 9EHH;9J
JE J>; <7HC;HI 8KJ M?BB 7BIE 8; GK?9A;H I7L?D= J?C; 7 7D:EDBO
8 7D:EDBO
M>?9> 97D 8; KJ?B?P;: <EH CEH; FHE:K9J?L; MEHA />;
9 7D:
)(*HED;?:?I9>;C;M?BB8;7=7C; 9>7D=;H $J
: BBE<J>;8EL;
M?BBKI>;H?D7D;M9>7FJ;HE<MEC;DYI;CFEM;HC;DJ
7D:;<<;9J?L;BO7::H;IICKBJ?FB;?IIK;I8OFHEL?:?D=7D D 799KH7J; 9BE9A I>EMI J>; J?C; 7I
EFFEHJKD?JO <EH HKH7B MEC;D JE 8; 7J J>; 9;DJH; IJ7=; 2>;DJ>;>EKH>7D:>7ICEL;:8O J>;D
E<;9EDEC?979J?L?JO7D:HKH7BFHEIF;H?JO />;H;?IDE M>7JM?BB8;J>;J?C;I>EMD8OJ>;9BE9A
:EK8JJ>7JJ>;I9>;C;IKFFEHJ;:8OJ>;D;MBO9H;7J;: 7
D;JMEHAE<+H7:>7D(7DJH?&H?I>?.7CH?::>?&;D:H7I 8
M>?9> FHEL?:; 7=H?9KBJKH7B I;HL?9;I KD:;H ED; HEE< 9
:
M?BBFHEL;JE8;7>7H8?D=;HE<CE:;HD :7O7=H?9KBJKH7B
H;LEBKJ?ED7D:FHEIF;H?JO?D7B7H=;BO7=H7H?7D9EKDJHO
=HEKF E< ?D:?L?:K7BI ?I 7HH7D=;: ?D
B?A;EKHI
HEMI 79> HEM 9EDJ7?DI D?D; B;II ?D:?L?:K7BI
J>7D J>; HEM ?D <HEDJ E< ?J 2>7J DKC8;H E<
7I;: ED J>; 78EL; F7II7=; J>; <EBBEM?D= HEMI7H;FEII?8B;
7IIKCFJ?EDI>7L;8;;DC7:; 7
-KH7B 7H;7I IJ?BB >7L; =;D:;H 87I;: 8
?D;GK7B?J?;I 9
!7IJ;H :;FBEOC;DJ E< J;9>DEBE=O ?I J>; :
EDBOM7OJE;DIKH;7=H?9KBJKH7B=HEMJ>
$<FG H7D:I7H;:?IJ?D9JI?D=B;:?=?JD;=7J?L;
?DJ;=;HI J>;D M>7J ?I J>; B;7IJ FEII?8B; L7BK;
9EHH;9J
E<FGHI
7 EDBO 7
8 EDBO 8
9 EJ> 7D: 9
: );?J>;H DEH :
///3."+"'&"+3"& :: 6"+"'&

.

.>O7C7D:-7:>?A7F7?:7JEJ7BE<-I <EH $< , =;JI <;M;H 9E?DI J>7D - J>;D M>?9> ED;
9;HJ7?DFB7J;IE<FE>77D:@7B;8? $<FE>79EIJI E<J>;<EBBEM?D=?ID;9;II7H?BOJHK;
7 +7D:,JE=;J>;H=;J7JB;7IJ<EKH9E?DI
-I F;HFB7J;7D:@7B;8?9EIJI-I F;HFB7J;
8 ,7D:.JE=;J>;H=;J7JB;7IJ<EKH9E?DI
J>;DM>?9>ED;E<J>;<EBBEM?D=IJ7J;C;DJI?I
9 -7D:.JE=;J>;H=;J7JB;7IJ<?L;9E?DI
9EHH;9J : +7D:-JE=;J>;H=;J7JB;7IJ<?L;9E?DI
7 2; 97DDEJ :;J;HC?D; M>;J>;H J>;O 7J;
CEH;FE>7EH@7B;8?
8 />;O 7J; I7C; DKC8;H E< FB7J;I E< FE>7

7D:@7B;8?

9 />;O7J;CEH;@7B;8?J>7DFE>7
"
: />;O7J;CEH;FE>7J>7D@7B;8? $D9ECCEDF7HB7D9;7H9>?J;9JKH;?I7IJK:OE<<EHCI
FB7DI :;I?=DI CEJ?EM J>;O >7L; ;LEBL;:
H9>?J;9JKH;?I7BIE7C;:?KCJEIJK:OIE9?;JO8;97KI;
8K?BJ IF79;I :;B?D;7J; 9ECCKD?J?;I 7D: =?L; J>;C 7
I;DI; E< 8;BED=?D= 7D: 9KBJKH7B ?:;DJ?JO -;B?=?ED ?D

7BBJ?C;7D:IF79;>7I7BM7OI8;;D7C7@EHFHEF;BB;H
E<7H9>?J;9JKH7B9H;7J?EDI7IE<EJ>;H7HJ?IJ?979J?L?J?;I
/;D 9E?DI 7H; :?IJH?8KJ;: 7CED= <EKH F;EFB; + , - *L;HB7F 7D: ?DJ;H79J?ED 7H; J>; A;OI JE KD:;HIJ7D:?D=
7D:.IK9>J>7JED;E<J>;C=;JIED;9E?D7DEJ>;H=;JI $D:?7D 7H9>?J;9JKH; D: I?D9; J>;H; ?I DE B?D;7H
JME9E?DIJ>;J>?H:=;JIJ>H;;9E?DI7D:J>;<EKHJ>=;JI :;L;BEFC;DJ ?D $D:?7D 7H9>?J;9JKH; J>; :?I9?FB?D;
8;?D= 7 CKBJ?FB; :?I9EKHI; M; D;;: JE CEL; 7M7O
<EKH9E?DI $J?IADEMDJ>7J,=;JICEH;9E?DIJ>7D+
<HEC J>; FH?C79O E< ED; H;=?ED F;H?E: :OD7IJO EH
7D:.=;JI<;M;H9E?DIJ>7D-
F7JHED7=;
$<J>;DKC8;HE<9E?DI=?L;DJE,?IJM?9;J>; 7I;: ED J>; 78EL; F7II7=; J>; <EBBEM?D=

DKC8;HE<J>EI;=?L;DJE+J>;DM>?9>ED;E< 7IIKCFJ?EDI>7L;8;;DC7:;
J>;<EBBEM?D=?ID;9;II7H?BOJHK; $D:?7D 7H9>?J;9JKH; >7I I;HL;: 7I 7 C;7DI
E< 7;IJ>;J?9 ;NFH;II?ED 7D: 7 C?HHEH J>7J
7 -=;JI7D;L;DDKC8;HE<9E?DI
H;<B;9JIJ>;;II;D9;E<IE9?;JO
8 -=;JI7DE::DKC8;HE<9E?DI
/E 9ECFH;>;D: J>; ?DJH?979?;I E< $D:?7D
9 .=;JI7D;L;DDKC8;HE<9E?DI 7H9>?J;9JKH; ED; CKIJ :;BL; ?DJE J>;
: .=;JI7DE::DKC8;HE<9E?DI ?DJH?97J; M;8 E< EL;HB7FF?D= 7D:
?DJ;HC?D=B?D= ?D<BK;D9;I J>7J >7L; I>7F;:
$<-=;JI7JB;7IJJMECEH;9E?DIJ>7D.J>;D ?JIKD?GK;<EHC7D:9>7H79J;H
M>?9>ED;E<J>;<EBBEM?D=?ID;9;II7H?BOJHK;
9EHH;9J
7 ,=;JI7JB;7IJJMECEH;9E?DIJ>7D+
7 EDBO
8 ,=;JICEH;9E?DIJ>7D. 8 EDBO
9 +=;JICEH;9E?DIJ>7D. 9 EJ> 7D:
: +7D:,JE=;J>;H=;J7JB;7IJ<?L;9E?DI : );?J>;H DEH
///3."+"'&"+3"& :; 6"+"'&

.

" 2>?9> ED; E< J>; <EBBEM?D= IJ7J;C;DJI 8;IJ
KH?D=J>;H;9;DJF;H?E:E<>;?=>J;D;:KD9;HJ7?DJOJ>; H;<B;9JI J>; CEIJ BE=?97B H7J?ED7B 7D: 9HK9?7B
;C;H=?D= C7HA;J ;9EDEC?;I ( I M;H; 7J J>; C;II7=;?CFB?;:8OJ>;F7II7=;
H;9;?L?D= ;D: E< ;N9;II LEB7J?B?JO ?D 0. :EBB7H 7D: 7 />; ;LEBKJ?ED ?D J>; IJK:O E< >?IJEHO ?I
8ED:O?;B:I "?L;DJ>;IOIJ;C?9?CFEHJ7D9;E<J>;0. 87I;: ED J>; ;LEBKJ?ED E< J>; IJK:O E<
;9EDECO ?D J>; =BE87B <?D7D9?7B IOIJ;C IF?BBEL;HI 9KBJKH;<HEC7IE9?7BF;HIF;9J?L;
<HEC J>;I; <BK9JK7J?EDI 7H; DEJ KD;NF;9J;: ;IF;9?7BBO
8 0D:;HIJ7D:?D= 9KBJKH; <HEC 7 >?IJEH?97B
?D J>; 9EDJ;NJ E?<J?D= ;NF;9J7J?EDI 78EKJ J>;
F;HIF;9J?L; >;BFI KI KD:;HIJ7D: J>;
CED;J7HO FEB?9O JH7@;9JEHO ?D J>; 0. 7D: ?JI
;LEBKJ?EDE<IE9?;JO
<KD:7C;DJ7BI $D IK9> 7 I?JK7J?ED J>; ( I M>?9>
9 NF7DI?ED E< J>; I9EF; E< >?IJEHO ?I
>7L; J>;?H :EC;IJ?9 :OD7C?9I 7D: 9>7BB;D=;I 97DDEJ
7<<EH: JE 8; >;B: >EIJ7=; 8O ?DJ;HD7J?ED7B <?D7D9?7B H;<B;9J;:?DJ>;;LEBKJ?EDE<IE9?;JO
9O9B;I : KBJKH7B IJK:?;I DEM :EC?D7J; >?IJEHO 7I
7D797:;C?9IJH;7C
2>?9> E< J>; <EBBEM?D= ?I J>; CEIJ BE=?97B
?D<;H;D9; J>7J 97D 8; C7:; <HEC J>; 78EL; "
F7II7=; 2EC;D >7L; :?IJ?D9J DKJH?J?ED7B H;GK?H;C;DJI
7 $D 7D ;H7 E< ?DJ;H9EDD;9J;: MEHB: J>HEK=>EKJJ>;?HB?L;I ;<EH;FH;=D7D9OMEC;DD;;:
;C;H=?D=C7HA;J;9EDEC?;ID;;:JE79JJE DKJH?J?EKI7D:I7<;:?;JIJE;IJ78B?I>IK<<?9?;DJH;I;HL;I
I7<;=K7H:J>;?HKD?GK;?DJ;H;IJI <EH FH;=D7D9O KH?D= FH;=D7D9O 7D: 8H;7IJ<;;:?D=
8 />; 0. ;9EDECO >7I B?C?J;: IOIJ;C?9 ;D;H=O 7D: DKJH?;DJ D;;:I ?D9H;7I; (;;J?D= J>;C ?I
?CFEHJ7D9;?DJ>;=BE87B<?D7D9?7BIOIJ;C 9H?J?97B <EH MEC;DYI >;7BJ> 7D: J>;?H 9>?B: T ?D J>;
9 C;H=?D= C7HA;J ;9EDEC?;I >7L; DE
MEC8 7D: J>HEK=>EKJ ;7HBO 9>?B:>EE: KJ ?D C7DO
9EDJHEBEL;HJ>;?H:EC;IJ?9:OD7C?9I
F7HJI E< J>; MEHB: <7H JEE C7DO MEC;D T ;IF;9?7BBO
: EJ>77D:8
7:EB;I9;DJI 7D: J>EI; M>E 7H; DKJH?J?ED7BBO 7J H?IA T
7H;DEJH;9;?L?D=J>;DKJH?J?EDI;HL?9;IJ>;OD;;:JE8;
"
>;7BJ>O 7D: =?L; J>;?H 878?;I J>; 8;IJ 9>7D9; JE
#?IJEHO?IDEBED=;HJH;7J;:7IC;H;BO7IJK:OE<:7J;I
7D:;L;DJI7D:J>7JJEEB7H=;BOEDBOFEB?J?97B;L;DJI $JI IKHL?L;=HEM7D::;L;BEF
I9EF; >7I 8;;D M?:;D;: JE ?D9BK:; C7DO 7IF;9JI E<
B?<; />;I;?D9BK:;J>;IJK:OE<F7JJ;HDIE<B?<;M>?9> 2>?9> ED; E< J>; <EBBEM?D= 8;IJ H;<B;9JI J>;
M;97BB9KBJKH; KBJKH;M7IED9;:;<?D;:7IJ>7JM>?9> 9HKNE<J>;F7II7=;
H;B7J;I JE 7HJ 7H9>?J;9JKH; B?J;H7JKH; 7D: F>?BEIEF>O 7 !EH 7DO F7HJ?9KB7H MEC7D J>; DKJH?J?ED7B
)EM ?J ?D9BK:;I 7BB J>; 79J?L?J?;I E< 7 IE9?;JO H;GK?H;C;DJ ?I J>; I7C; J>HEK=>EKJ >;H
/>;H;<EH;J>;;CF>7I?IE<>?IJEHO>7II>?<J;:<HECJ>; B?<;
IJK:OE<EDBOJ>;KFF;H=HEKFIE<IE9?;JOJE7BBB;L;BI 8 +H;=D7DJ MEC;D D;;: IF;9?<?9 :?;JI 8KJ
E< IE9?;JO $J DEM 9EL;HI ?D<EHC7J?ED ED A?D=I 7D: 7:EB;I9;DJI 7D: DKJH?J?ED7BBO 7J H?IA
IJ7J;IC;D 7I M;BB 7I ED EH:?D7HO F;EFB; M>E C7A; MEC;D:EDEJ
>?IJEHO $J?D9BK:;IJ>;IJK:OE<7HJ7D:7H9>?J;9JKH;E< 9 />;DKJH?J?ED7BIJ7JKIE<MEC;D?IFEEH?D
J>; ;LEBKJ?ED E< B7D=K7=;I ?D $D:?7 B?J;H7JKH; 7D:
C7DO F7HJI E< J>; MEHB: ?CF79J?D= J>;?H
H;B?=?ED )EM M; :E DEJ BEEA EDBO 7J M>7J M7I
>;7BJ>7D:J>;?H9>?B:H;DIM;BB 8;?D=
>7FF;D?D=7JJ>;7H?IJE9H7J?9B;L;BE<IE9?;JO 2;7BIE
: "EL;HDC;DJI D;;: JE ;DIKH; 8;JJ;H
JHOJEH;9EDIJHK9JJ>;?DJ;H;IJI7D:9ED9;HDIE<F;EFB;
<79?B?J?;I 7D: DKJH?J?ED <EH MEC;D 7D:
7J BEM;H B;L;BI />?I C7A;I >?IJEHO CEH; ?DJ;H;IJ?D=
7D:>;BFIKIKD:;HIJ7D:EKHIE9?;JO<EHJ>;8;JJ;H 9>?B:H;D
///3."+"'&"+3"& :< 6"+"'&

.

#EM C7DO F7?HI E< D7JKH7B DKC8;HI 7H; J>;H; IKCE<CED;O7JI?CFB;?DJ;H;IJ7CEKDJIJE
IK9>J>7JJ>;:?<<;H;D9;E<J>;?HIGK7H;I?I -I ?D O;7HI 7D: JE -I ?D O;7HI
7 *D; 2>7JCKIJ>7L;8;;DJ>;FH?D9?F7BIKC
8 /ME
7 -I
9 !EKH
8 -I
: />H;;
9 -I
/>H;;L?;MIE<79K8;7H;=?L;D8;BEM : -I
EDI?:;H J>; <EBBEM?D= I;GK;D9; J>7J <EBBEMI

IEC;BE=?9
*KJE<J>;<EKHEFJ?EDI=?L;D8;BEMED;E<J>; 769:86:79678:689
EFJ?EDI:E;I9ED<EHCJEJ>;EH?=?D7B9K8;
>EEI;J>7JEFJ?ED7IOEKH7DIM;H />;B;JJ;HIJ>7JI>EKB:9EC;?DJ>;=7FI7H;
7 7 8989
8 8899
9 8987
: 89:7
8

9

"
-;I;7H9>;HI 7D7BOI?D= ?C7=;I <HEC ).YI %7C;I
2;88.F79;/;B;I9EF;>7L;<EKD:J>7J=7B7N?;I?DJ>;
: ;7HBO KD?L;HI; 7H; E<J;D <B7J 7D: ;BED=7J;: B?A;
IKH<8E7H:I 7D: FEEB DEE:B;I T 7D: 7H; H7H;BO HEKD:
B?A; LEBB;O87BBI EH <H?I8;;I 2>?B; CEIJ :?IJ7DJ
=7B7N?;IBEEAB?A;IKH<8E7H:I7D:FEEBDEE:B;IEJ>;HI
7H; I>7F;: B?A; <H?I8;;I 7D: LEBB;O87BBI />;
/>; DKC8;H E< IGK7H;I J>7J 97D 8; <EHC;: VLEBB;O87BBIW EH IF>;H; I>7F;: =7B7N?;I 7FF;7H J>;
<HEC 7 I;J E< <?L; F7H7BB;B B?D;I ?DJ;HI;9J?D= CEIJ 9ECF79J JOF; ED J>; 9EIC?9 VE9;7DW 7D: M;H;
7DEJ>;HI;JE<<?L;F7H7BB;BB?D;I?I 7BIE J>; B;7IJ <H;GK;DJBO ?:;DJ?<?;: />; <H?I8;;I M;H;
7 <EKD:JE8;7IB7H=;7IJ>;IKH<8E7H: 7D:FEEBDEE:B;
8
I>7F;:=7B7N?;I7BED=J>;V>EH?PEDW8KJ8;9EC;CEH;
9
9ECCED9BEI;HJEVI>EH;W?DJ>;D;7H8OKD?L;HI;
:
///3."+"'&"+3"& := 6"+"'&

.

2>?9> E< J>; <EBBEM?D= IJ7J;C;DJI 8;IJ 2>?9> ED; E< J>; <EBBEM?D= IJ7J;C;DJI 8;IJ
H;<B;9JIJ>;BE=?97B?D<;H;D9;<HECJ>;F7II7=;
H;<B;9JI J>; 9HK9?7B C;II7=; 9EDL;O;: 8O J>;
7 "7B7N?;I ?D J>; ;7HBO KD?L;HI; M;H;
FH;:EC?D7DJBO HEKD: H;I;C8B?D= 7KJ>EHE<J>;F7II7=;
LEBB;O87BBEH<H?I8;;I>7F;I 7 .;B< H;B?7D9; ?I ;II;DJ?7B <EH FHEJ;9J?D=
8 (EIJ:?IJ7DJ=7B7N?;I?DJ>;;7HBOKD?L;HI;
IF;9?<?9<?HCI7D:I;9JEHI7=7?DIJ;NJ;HD7B
;N>?8?J <B7J 7D: ;BED=7J;: I>7F;I 7A?D JE
IKH<8E7H:I7D:FEEBDEE:B;I 9ECF;J?J?ED
9 1EBB;O87BB =7B7N?;I 7H; J>; CEIJ
8 .;B< H;B?7D9; 7I 7 H;IFEDI; JE =BE87B
<H;GK;DJBO ?:;DJ?<?;: JOF; ?D J>; 9EIC?9
E9;7DE<J>;;7HBOKD?L;HI; ;9EDEC?9 9>7BB;D=;I C7O B;7: JE =H;7J;H
: !H?I8;; I>7F;: =7B7N?;I 7H; FH?C7H?BO IOIJ;C?9?DIJ78?B?JO
<EKD:7BED=J>;>EH?PEDE<J>;KD?L;HI;
9 />; ?DJ;DI?<O?D= 0. >?D7 H?L7BHO ?I 7
" FEI?J?L; <EH9; <EH <EIJ;H?D= ;9EDEC?9

.;B< H;B?7D9; ?I :?<<;H;DJ <HEC FHEJ;9J?ED?IC />; EF;DD;II
DEC?D7B=E7B?IDEJJEFHEJ;9JIF;9?<?9<?HCIEHI;9JEHI
EHJEKD:;H9KJEJ>;HI8KJJE8K?B::EC;IJ?9H;I?B?;D9; : />; J>;EHO E< ?DJ;HD7J?ED7B H;B7J?EDI
?D 7 B;II I;9KH; MEHB: I 7D ?DM7H: BEEA?D= IJH7J;=O ;CF>7I?P;I J>; D;;: <EH CKBJ?FB; =BE87B
E< FH;I;HL7J?ED H7J>;H J>7D 7D EKJM7H: BEEA?D=
>;=;CEDIJE;DIKH;C7HA;J799;II?8?B?JO
FHE=H7C E< FKD?I>C;DJ ?J 7FF;7HI 8;D?=D ;L;D
I;DI?8B; KJJ>?I?I7D?BBKI?ED L;D?<I;B< H;B?7D9;?I
7D KD:;HIJ7D:78B; H;IFEDI; JE 7 MEHB: J>7J ?I CEL?D= 7I;: ED J>; 78EL; F7II7=; J>; <EBBEM?D=
7M7O <HEC ;9EDEC?9 EF;DD;II ?J H?IAI <K;BB?D= ;L;D
=H;7J;H IOIJ;C?9 ?DIJ78?B?JO /E:7OYI 7KJ7HA?9
J;D:;D9?;I 7H; 7 IOCFJEC E< J>; <7:?D= +7N HIJM>?B; 0..- BEIJ ?I >;=;CED IJ7JKI
C;H?97D7 />;?DJ;DI?<O?D=0. >?D7H?L7BHO7D:J>;
7<J;H ?J H;IEHJ;: JE FHEJ;9J?ED?IC 7I 7
M?:;D?D=:?L?:;8;JM;;D:;CE9H7J?97D:7KJ>EH?J7H?7D
H;=?C;I >7L; ?D9H;7I?D=BO ?CF7?H;: C;H?97YI 78?B?JO H;79J?EDJEJ>;;C;H=?D=9>7BB;D=;I
JEA;;FJ>;=BE87BC7HA;J;9EDECOEF;D 99EH:?D=JE />; <7:?D= +7N C;H?97D7 >7I ;D>7D9;:
ED; J>;EHO E< ?DJ;HD7J?ED7B H;B7J?EDI 7 JHKIJ;: 7D:
=BE87B;9EDEC?9EF;DD;II
9ECC?JJ;: >;=;CED J>7J ;D<EH9;I =BE87B HKB;I 7D:
FHEL?:;I =BE87B FK8B?9 =EE:I ?I 7 FH;H;GK?I?J; JE
A;;F?D= ?DJ;HD7J?ED7B C7HA;JI EF;D 2>;D J>;
2>?9> E< J>; 78EL; 7IIKCFJ?EDI ?I 7H;
FH;:EC?D7DJFEM;HDEBED=;H>7IJ>;C;7DIEHM?BBJE
FB7O J>?I HEB; C7HA;JI IK::;DBO 8;9EC; ?D799;II?8B;
/>; >;=;CED M?BB KI; FHEJ;9J?ED?IC JE 9EDJ7?D H?I?D= 7 EDBO
9>7BB;D=;HI 7D: FH;I;HL; ?JI =BE87B IJ7JKI M>?B;
8 EDBO
H;:K9?D= ?JI ?DJ;HD7J?ED7B 9ECC?JC;DJI $D H;IFEDI;
D;M9>7BB;D=;HIB?A;>?D7JE:7OM?BBKD:;HC?D;J>; 9 EJ> 7D:
?DJ;HD7J?ED7BIOIJ;C8O9>7BB;D=?D=?JIB;=?J?C79O
: );?J>;H DEH
///3."+"'&"+3"& :> 6"+"'&

.

" (H 3 M;DJ JE 7 H;IJ7KH7DJ <EH :?DD;H M>;H;
+;EFB;B?A;(7>7JC7"7D:>?7D:(EJ>;H/;H;I7M>E JEJ7B 8?BB M7I -I />; H;IJ7KH7DJ E<<;HI

>7L; ?CC;DI;BO 9EDJH?8KJ;: JE IE9?;JO M;H; :?I9EKDJ ED 97I> F7OC;DJ M>?B;
FIO9>EBE=?97BBO FEM;H<KB *D; E< J>; DEJ78B; :?I9EKDJ ED 97H: F7OC;DJ (H 3 7BIE =;JI
9>7H79J;H?IJ?9I J>7J J>;O >7: ?I 7 M;BB :;L;BEF;: 97I>879AED97H:F7OC;DJ7<J;HJ>;8?BB?I
9EDI9?;D9; />;?H ?:;7I MEH:I 7D: 79J?EDI M;DJ F7?: 2>?9> E< J>; <EBBEM?D= IJ7J;C;DJI ?I
JE=;J>;H (7>7JC7 "7D:>? J>EK=>J J>7J JHKJ> MEKB: 9EHH;9J
7BM7OI JH?KCF> IE >; IFEA; EDBO J>; JHKJ> BIE >; 7 7I>F7OC;DJ?ICEH;FHE<?J78B;J>7D97H:
97HH?;:EKJM>7J>;I7?: '?A;M?I;(EJ>;H/;H;I7M7I F7OC;DJ
9ED9;HD;: <EH J>; FEEH 7D: J>; I?9A .>; IFEA; <EH 8 7H:F7OC;DJ?ICEH;FHE<?J78B;J>7D97I>
J>;?HM;B<7H;7D::;:?97J;:>;H;DJ?H;B?<;JEJ>7J97KI; F7OC;DJ
9 +HE<?J 8O 97I> F7OC;DJ ?I ;GK7B JE FHE<?J
'?A;M?I;C7DO<7CEKIF;EFB;7BBEL;HJ>;MEHB:>7L;
8O97H:F7OC;DJ
9EDJH?8KJ;: JE J>; M;B<7H; E< IE9?;JO BB E< J>;C 7H;
: #;F7?:-I JE=;JC7N?CKCFHE<?J
ADEMD <EH J>;?H ?DJ;=H?JO 2;BB ?DJ;=H7J;: F;EFB;
9EDJH?8KJ;DEJEDBOJEJ>;?HF;HIED7B=HEMJ>8KJ7BIEJE
J>;=HEMJ>7D::;L;BEFC;DJE<IE9?;JO
2>?9>E<J>;<EBBEM?D= 8;J>;H7J?EE<
#! JE '( E< 7DO JME =?L;D D7JKH7B
7I;: ED J>; 78EL; F7II7=; J>; <EBBEM?D=
DKC8;HI
7
$DJ;=H?JO FH;:?IFEI;I 7 F;HIED JE C7A;
8
C;7D?D=<KB 7D: 9EDIJHK9J?L; 9EDJH?8KJ?EDI
9
JEIE9?;JO
:
+;EFB;M>E>7L;7IKF;H F?EKI9EDI9?;D9;
7H;7BM7OI9EDI?:;H;:=H;7JIEKBI
EDI?:;H J>; <EBBEM?D= IJ7J;C;DJI 7D: J>;
2>?9> E< J>; 7IIKCFJ?EDI =?L;D 78EL; ?I 7H; GK;IJ?ED
9EHH;9J $ 2C7OEHC7ODEJ8;EB:;HJ>7D1
7 EDBO $$ 2?IDEJEB:;HJ>7D1
8 EDBO
9 EJ> 7D: 3?IEB:;HJ>7D45?IOEKD=;HJ>7D27D:1
: );?J>;H DEH ?I7IEB:7I4 $I5OEKD=;HJ>7D3
7 />; GK;IJ?ED 97D 8; 7DIM;H;: M?J> J>;
DKC8;H ) >7I <79JEHI 7D: B?;I 8;JM;;D >;BFE<IJ7J;C;DJ$7BED;
7D: 2>7J ?I J>; JEJ7B DKC8;H E< 8 />; GK;IJ?ED 97D 8; 7DIM;H;: M?J> J>;
FEII?8B;L7BK;I<EH) >;BFE<IJ7J;C;DJ$$7BED;
7 9 EJ> IJ7J;C;DJ $ 7D: IJ7J;C;DJ $$ 7H;
8 D;;:;:JE7DIM;HJ>;GK;IJ?ED
9 : />; IJ7J;C;DJ 97DDEJ 8; 7DIM;H;: ;L;D
: M?J>J>;>;BFE<8EJ>J>;IJ7J;C;DJI
///3."+"'&"+3"& :? 6"+"'&

.

D ?I 7 D7JKH7B DKC8;H IK9> J>7J D 2>?9> E< J>; <EBBEM?D= IJ7J;C;DJI 97D 8;
!EH >EM C7DO L7BK;I E< D MEKB: J>; KD?JYI ?D<;HH;:<HECJ>;78EL;F7II7=;
FB79;E<;D:M?J>7P;HE
/E79>?;L;J>;KBJ?C7J;E8@;9J?L;E<B?L?D=
7
8 JE=;J>;H F;EFB; I>EKB: <EBBEM 7 IE9?7B
9 EH:;H
: O EL;HI;;?D= =HEKF 7<<7?HI 7D:
FHECEJ?D= I>7H;: ?DJ;H;IJI J>;
$D 7 I9>EEB E< IJK:;DJI =?HBI 7H;
CEH;J>7D8EOI />;7L;H7=;M;?=>JE<=?HBI?I =EL;HDC;DJ <79?B?J7J;I J>; <KB<?BC;DJ E<
A= 7D: 7L;H7=; M;?=>J E< 7BB IJK:;DJI 7D: 9?J?P;DI@E?DJ=E7BI
8EOI ?I I7C; />; 7L;H7=; M;?=>J E< 7BB .;B;9J J>; 9EHH;9J 7DIM;H KI?D= J>; 9E:;I
IJK:;DJI?I
=?L;D8;BEM
7 A=
7 EDBO
8 A=
9 A= 8 EDBO
: A= 9 EJ> 7D:
: );?J>;H DEH

"
'7D: ?I EKH 87I?9 H;IEKH9; />HEK=>EKJ >?IJEHO M;
" >7L; :H7MD CEIJ E< EKH IKIJ;D7D9; 7D: CK9> E< EKH
/>;FKHFEI;<EHM>?9>F;EFB;B?L;JE=;J>;H97DDEJ8;
<K;B9BEJ>?D=7D:I>;BJ;H<HECJ>;B7D: $J?IKI;<KBJE
H;7B?P;:KDB;IIJ>;O7H;FHEF;HBOEH=7D?P;:7D:799;FJ
9;HJ7?DHKB;IE<9ED:K9J />;7=;D9O9H;7J;:JE;D<EH9; KI7I7IEKH9;E<<EE:7D:7I7FB79;JEB?L;MEHA7D:
HKB;I E< 9ED:K9J 7D: ;DIKH; E8;:?;D9; ?I 97BB;: J>; FB7O $J>7I:?<<;H;DJHEB;I $J?I7FHE:K9J?L;;9EDEC?9
=EL;HDC;DJ />; =EL;HDC;DJ ?I 7BIE J>; <E9KI E< J>; <79JEH ?D 7=H?9KBJKH; <EH;IJHO =H7P?D= <?I>?D= 7D:
9ECCEDFKHFEI;E<J>;F;EFB;E99KFO?D=J>;:;<?D?J;
C?D?D= $J?I9EDI?:;H;:7<EKD:7J?ED<EHIE9?7BFH;IJ?=;
J;HH?JEHO $J ?I J>HEK=> J>?I C;:?KC J>7J 9ECCED
FEB?9?;I7H;:;J;HC?D;:9ECCED7<<7?HIH;=KB7J;:7D: 7D: ?I J>; 87I?I E< M;7BJ> 7D: FEB?J?97B FEM;H $J >7I
9ECCED ?DJ;H;IJI FHECEJ;: 2?J>EKJ 7 =EL;HDC;DJ C7DO F>OI?97B <EHCI B?A; CEKDJ7?DI >?BBI FB7?DI
J>;F;EFB;M?BBB79A9E>;I?ED7D:C;7DIE<9EBB;9J?L; BEMB7D:I7D:L7BB;OI $J?I9>7H79J;H?P;:8OJ>;9B?C7J;
79J?ED />;H; MEKB: 8; =HEKFI F7HJ?;I M7HH?D=
<HEC>EJJE9EB:7D:<HEC>KC?:JE:HO .?C?B7HBOJ>;
7IIE9?7J?EDI 7D: 9ED:?J?EDI E< M7HI 7D: 9>7EI .E
J>;H;?I7D;;:<EH9ECCED7KJ>EH?JO7D:EH:;HM>;H; B7D: IKFFEHJI C7DO A?D:I E< L;=;J7J?ED $D 7 M?:;H
F;EFB;B?L; />?I?IJ>;FH;H;GK?I?J;E<>KC7DB?<; />; I;DI;B7D:?D9BK:;IIE?B7D:JEFE=H7F>O7BED=M?J>J>;
IJ7J;97DDEJ7D::E;IDEJ;N?IJM?J>EKJ7=EL;HDC;DJ F>OI?97B <;7JKH;I E< 7 =?L;D BE97J?ED $J ?I ?D J>?I
DE C7JJ;H M>7J <EHC 7 =EL;HDC;DJ C7O 7IIKC; />;
9EDJ;NJ J>7J B7D: ?I ?:;DJ?<?;: 9BEI;BO M?J> J>; D7JKH7B
=EL;HDC;DJ?I7CKIJJ>EK=>?JC7OJ7A;7DO<EHC $J
C7O >7L; 7 CED7H9>O B?A; >KJ7D EH 7 H;FK8B?9 7I ?D ;DL?HEDC;DJ #EM;L;H ?J ?I 7BIE H;=7H:;: 7I IF79;
$D:?7 $JC7O>7L;7F7HB?7C;DJ7HO<EHCE<=EL;HDC;DJ I?JK7J?ED7<79JEHE<FHE:K9J?ED?D;9EDEC?9FHE9;II;I
B?A; $D:?7 7D: "H;7J H?J7?D EH 7 FH;I?:;DJ?7B <EHC E< 9EDIKCFJ?ED=EE:IFHEF;HJO7D:97F?J7B
=EL;HDC;DJB?A;J>;0D?J;:.J7J;IE<C;H?97
///3."+"'&"+3"& :@ 6"+"'&

.

2>?9> ED; E< J>; <EBBEM?D= IJ7J;C;DJI 8;IJ EDI?:;H J>; <EBBEM?D= GK;IJ?ED 7D: J>;
H;<B;9JIJ>;9HKNE<J>;F7II7=; IJ7J;C;DJI

7 />; KI; E< B7D: 7I 7 H;IEKH9; >7I I>7F;: />H;; <H?;D:I + , 7D: - 7H; M;7H?D= >7JI
J>;9EKHI;E<>KC7DFEB?J?97B>?IJEHO ;?J>;H8B79AEHM>?J; 79>F;HIED97DI;;J>;

>7JI E< J>; EJ>;H JME F;HIEDI 2>7J ?I J>;
8 />; B7D: I>7F;I EKH B?<; ?D DKC;HEKI
9EBEKHE<+I>7J
C7DD;HI FHEL?:?D= ;L;HOJ>?D= H7D=?D=
.J7J;C;DJI
<HECFH;IJ?=;JEDKJH?J?ED
$ + I7OI J>7J >; 97D I;; ED; 8B79A >7J 7D:
9 '7D: KI; F7JJ;HD H;C7?DI J>; I7C; 79HEII
ED;M>?J;>7J
J>;:?<<;H;DJF>OI?97B<EHCI
$$ , I7OI J>7J >; 97D I;; ED; M>?J; >7J 7D:
: 9>?;L?D=FHEIF;H?JO?DB?<;?IDEJFEII?8B; ED;8B79A>7J
M?J>EKJJ>;;9EDEC?9EMD;HI>?FE<B7D:
.;B;9J J>; 9EHH;9J 7DIM;H KI?D= J>; 9E:;I
-7A;I> M7I JH7L;BB?D= <HEC (KC87? JE "E7 =?L;D8;BEM
<J;H JH7L;BB?D= AC <HEC (KC87? 7 7 />; GK;IJ?ED 97D 8; 7DIM;H;: M?J> J>;
FHE8B;C E99KHH;: ?D >?I 97H 7D: ?JI IF;;: >;BFE<<?HIJIJ7J;C;DJ7BED;
8;97C; E<?JIEH?=?D7BIF;;: K;JEJ>?I 8 />; GK;IJ?ED 97D 8; 7DIM;H;: M?J> J>;
>; H;79>;: "E7 C?DKJ;I B7J; $< J>7J >;BFE<7DOED;IJ7J;C;DJ?D:;F;D:;DJBO

9 />; GK;IJ?ED 97D 8; 7DIM;H;: M?J> J>;
FHE8B;C >7: E99KHH;: 7<J;H JH7L;BB?D= AC
>;BFE<8EJ>IJ7J;C;DJIJE=;J>;H
<HEC (KC87? J>;D -7A;I> MEKB: >7L;
: />; GK;IJ?ED 97DDEJ 8; 7DIM;H;: ;L;D
H;79>;: "E7 EDBO C?DKJ;I B7J; !?D: J>;
M?J>J>;>;BFE<8EJ>IJ7J;C;DJIJE=;J>;H
EH?=?D7BIF;;:E<97H?DACF;H>EKH
7 2>?9> E< J>; <EBBEM?D= ?D;GK7B?J?;I ?I 7H;
8 ;GK?L7B;DJJEJ>;?D;GK7B?JO NQ
9 7 N 7D:NQ
: )ED;E<J>;I; 8 N EHNR
9 NR 7D:N
8EO?I7IA;:JE9>EEI;JMEDKC8;HI)7D: : NQ EHN
) 7J H7D:EC M?J>EKJ H;FB79;C;DJ <HEC J>;
I;GK;D9; SS DM>;H;D?I7D7JKH7B -7L?I9EH;: C7HAI?D7D;N7C?D7J?ED7D:
<7?B;:8O C7HAI -7>KBI9EH;: C7HAI
DKC8;H $< J>; FHE878?B?JO J>7J ) ) ?I
7D:I9EH;: C7HAICEH;J>7DF7II?D=C7HAI
;L;D?I J>;D<?D:J>;L7BK;E<D
!?D:J>;F7II?D=C7HAI?DJ>;;N7C?D7J?ED
7
7
8
8
9
9
: :
///3."+"'&"+3"& :A 6"+"'&

.

$D 7D EL;H E< 87BBI 7 87JIC7D >?JI
8EKD:7H?;I <EKH 7D: I?N;I J7A;I JME I?D=B;I
7D:FB7O;:7:EJ87BB 2>?9>E<J>;<EBBEM?D=
97DDEJ 8; J>; I9EH; E< J>7J 87JIC7D 7<J;H J>;
EL;H
7
"
8
9 8?= ?IIK; H;=7H:?D= B79A E< ;D;H=O ?I J>7J IJK:;DJI
: >7L; 7 IC7BB 7CEKDJ E< J?C; JE IJK:O 7D: 9ECFB;J;
J>;?H>EC;MEHA (7DO9>?B:H;DM7BABED=:?IJ7D9;IJE
/>; <?=KH; =?L;D 8;BEM 9EDI?IJI E< J>H;;
?DJ;HI;9J?D= 9?H9B;I M>?9> H;FH;I;DJ J>; =;JJEI9>EEB<HEC>EC;E<J;DB;7L?D=EHH;JKHD?D=?D
7FFB?97DJI <EH J>; FEIJ E< + M>E 7H; J>; :7HA $< 7I ?I E<J;D J>; 97I; J>;?H >EKI; :E;IDYJ
9ECFKJ;H B?J;H7J; M>E >7L; ADEMB;:=; E<
>7L; 7 IEKH9; E< ;D;H=O J>;I; IJK:;DJI 7H;DYJ 78B; JE
E<<?9; HKB;I 7D: H;=KB7J?EDI 7D: M>E >7L; 7
879>;BEHYI:;=H;; IJK:O7J>EC;?DJ>;;L;D?D= />;O7H;E<J;D<EH9;:JE
I;;A EJ>;H IEKH9;I EKJI?:; J>;?H >EKI;I IEC;J?C;I 7J
=7IIJ7J?EDIEHKD:;HIJH;;JB7CFIJE>7L;;DEK=>B?=>J
JE 9ECFB;J; J>;?H I9>EEBMEHA !7C?B?;I J>7J :E >7L;
;D;H=O 7J >EC; E<J;D H;BO ED A;HEI;D; B7CFI JE
FHEL?:;B?=>J7D;NF;DI?L;FH79J?9;J>7JFEI;II;H?EKI
>;7BJ>H?IAI7D:E<J;DJ?C;I97DDEJ8;<EKD:BE97BBO
!?D:J>;B;JJ;HJ>7JH;FH;I;DJI7BBJ>;7FFB?97DJI
M>E7H;9ECFKJ;HB?J;H7J;7D:>7L;ADEMB;:=;
E<E<<?9;HKB;I7D:H;=KB7J?EDI8KJ:EDEJ>7L; 2>?9> E< J>; <EBBEM?D= IJ7J;C;DJI 8;IJ
7879>;BEHYI:;=H;; H;<B;9JIJ>;BE=?97B?D<;H;D9;<HECJ>;F7II7=;
7 8
8 9 =?L;D78EL;
9 : 7 B;9JH?9?JO :?IJH?8KJ?ED I>EKB: 8;

: <
FH?L7J?I;:
$D 7 >7B< C7H7J>ED 9ED:K9J;: <EH =?HBI 7<J;H 8 2?J>EKJ 7:;GK7J; 7D: 799;II?8B;
HKDD?D=<EH C?DKJ;I7HKDD;HM7I?D<EHC;: ;B;9JH?9?JO J>; EL;H7BB :;L;BEFC;DJ E<
J>7J I>; >7: 9ECFB;J;: EDBO E< J>;
9>?B:H;D?IC7HH;:
C7H7J>ED #EM CK9> CEH; J?C; M7I J>;
HKDD;HIKFFEI;:JEHKD?DJ>?IC7H7J>ED 9 />;H;?I7D;;:JE8K?B:H;D;M78B;IEKH9;I
7 C?DKJ;I E< ;D;H=O <EH IEBL?D= J>; ?IIK;I E<
8 C?DKJ;I
7<<EH:78?B?JO7D:799;II?8?B?JO
9 C?DKJ;I
: C?DKJ;I : EJ>77D:8
///3."+"'&"+3"& :B 6"+"'&

.

" "
$D J>; IF79; E< @KIJ 7 <;M O;7HI =7C?D= M;DJ <HEC 7
I>KC7DFEFKB7J?EDI7D::;C7D:<EHIF79;9EDJ?DK;
D;H:O F7IJ?C; JE 7 CKBJ?8?BB?ED :EBB7H ?D:KIJHO />?I
JE =HEM F;EFB; 7D: M?B:B?<; 7H; ?D9H;7I?D=BO
H?I;?DFEFKB7H?JO>7IH;IKBJ;:?D7C7II?L;I>?<J?DJ>;
?DJ;H79J?D= 7D: 9ECF;J?D= <EH H;IEKH9;I M>?9> 97D
M7O L?:;E =7C;I 7H; :;L;BEF;: FHE:K9;: 7D:
B;7: JE ?D9H;7I;: >KC7D M?B:B?<; 9ED<B?9J BED= M?J>
:?IJH?8KJ;: ECF7D?;I 97DYJ ;NF;9J JE H;FB?97J; J>;?H
EJ>;H J>H;7JI >KC7D M?B:B?<; 9ED<B?9J >7I :H?L;D J>;
IK99;II ?D 2;IJ;HD C7HA;JI M?J> 7 VH?DI; 7D: H;F;7JW
:;9B?D;E<ED9; 78KD:7DJIF;9?;I7D:?IFKI>?D=EJ>;HI
E< ;N?IJ?D= IJH7J;=?;I <EH D;M =;E=H7F>?;I ?<<;H;DJ
JE J>; 8H?DA E< ;NJ?D9J?ED KJ J>; >KC7D M?B:B?<;
7IF;9JIE<J>;=7C;CKIJ8;J7?BEH;:<EHBE97BFB7O?D=
9ED<B?9J ?IIK; >7I <7H H;79>?D= ?CF79JI 8;OED: J>;
9ED:?J?EDI 7I J>EK=> J>; =7C; M7I 8K?BJ <HEC J>;
M?B:B?<; 7D: 9ECCKD?J?;I ?CC;:?7J;BO 7<<;9J;: 8O ?J
=HEKD:KF<EHJ>7JC7HA;J />;?DJ;HD;J7BBEMIF;EFB;
2?J> >KC7D M?B:B?<; 9ED<B?9J 9;DJH;: 7HEKD: J>;
JE 8K?B: 9ECCKD?J?;I J>HEK=> =7C?D= <EHKCI 7D:
?DJ;H79J?ED 8;JM;;D M?B:B?<; 7D: >KC7DI >KC7D
=HEKFI ;NFEI?D= <7H B7H=;H FEFKB7J?EDI JE 7 M?:;H
M?B:B?<;9E;N?IJ;D9;?IIJHED=BOB?DA;:7D:?CFEHJ7DJJE
L7H?;JOE<L?:;E=7C;I ECF7D?;IJ>7JM7DJJE799;II
IKIJ7?D78B; :;L;BEFC;DJ 79J?L?J?;I $< DEJ ;<<;9J?L;BO
7D: FHE<?J <HEC J>; <7IJ =HEM?D= =7C?D= 9EDIKC;H
C7D7=;: >KC7D M?B:B?<; 9ED<B?9J >7I J>; FEJ;DJ?7B JE
87I; D;;: JE 8; FH;F7H;: JE FHEL?:; ?DIJHK9J?ED
D;=7J?L;BO 7<<;9J J>;I; 79J?L?J?;I 7D: 9EDI;HL7J?ED
IKFFEHJ 7D: CE:;H7J?ED J;7CI ?D CKBJ?FB; BE97B
CK9>CEH;8HE7:BO
B7D=K7=;I
2>?9> ED; E< J>; <EBBEM?D= IJ7J;C;DJI 8;IJ

2>?9> ED; E< J>; <EBBEM?D= IJ7J;C;DJI 8;IJ
H;<B;9JIJ>;9HKNE<J>;F7II7=;
H;<B;9JIJ>;9HKNE<J>;F7II7=;
7 $D9H;7I; ?D >KC7D M?B:B?<; 9ED<B?9J ?I 7D
7 "7C?D= 9ECF7D?;I D;;: $ <EH
?D:?97J?EDE<JH7DI?J?EDJEM7H:IIKIJ7?D78B;
:;L;BEFC;DJ7D::?IJH?8KJ?EDE<=7C;I
:;L;BEFC;DJ
8 />; F;HIF;9J?L; E< 2;IJ;HD C7HA;JI 7D:
8 .K99;II E< IKIJ7?D78B; :;L;BEFC;DJ
EJ>;H H;=?EDI 78EKJ =7C?D= ?I 9ECFB;J;BO
79J?L?J?;I :;F;D:I ED J>; H;:K9J?ED E<
:?<<;H;DJ
>KC7D M?B:B?<;9ED<B?9JI
9 "BE87B?P7J?ED E< =7C;I J>HEK=> J>;
9 /E H;:K9; >KC7D M?B:B?<; 9ED<B?9J ?J ?I
?DJ;HD;J <EH FHE<?J C7A?D= D;;:I
;II;DJ?7BJE:;9H;7I;J>;H7J;E<FEFKB7J?ED
BE97B?P7J?ED
=HEMJ>
: "7C?D=9ECF7D?;I7H;CEH;IK99;II<KB?D
: #KC7D 8;?D=I 7D: 7D?C7BI 7H; 8EJ>
2;IJ;HD C7HA;JI 7I 9ECF7H;: JE D;M
;GK7BBO 7<<;9J;: 8O >KC7D M?B:B?<;
=;E=H7F>?;I
9ED<B?9JI
///3."+"'&"+3"& ;9 6"+"'&

.

/>;H; 7H; I?N ;CFBEO;;I ?D 7 9ECF7DO .EC; >EEI; J>; =HEKF M>?9> ?I :?<<;H;DJ <HEC J>;
>?DJI 78EKJ J>;?H I7B7HO 7H; =?L;D 8;BEM EJ>;HI

EDI?:;HJ>;<EBBEM?D=IJ7J;C;DJI7D:7DIM;H 7
J>;GK;IJ?EDJ>7J<EBBEMI 8
.7B7HOE<@7O?ICEH;J>7DJ>7JE<?@7O 9
>;J7D7D:7L?:;7HDJ>;I7C;7CEKDJ :
I>77D;7HDIJ>;B;7IJ
!?HEP;7HDIB;IIJ>7D7L?:
$<
!?HEP;7HDICEH;J>7D@7O
#EM C7DO IJ7J;C;DJI =?L;D 78EL; 7H; J>;D M>7J ?I J>; L7BK; E<
H;GK?H;: JE :;J;HC?D; J>; >?=>;IJ ;7HD?D=

F;HIEDI 7
7 *DBO 7D: 8
8 *DBO7D: 9
9 *DBO7D: :
: BB<?L;
/>H;; .J7J;C;DJI <EBBEM;: 8O JME
I>EFA;;F;HC7A;I FHE<?J8OI;BB?D=7D ED9BKI?EDI 7H; =?L;D 8;BEM 4EK >7L; JE
?J;C3C?N;:M?J>?J;C47J7FH?9;E<-I J7A; J>; .J7J;C;DJI JE 8; JHK; ;L;D ?< J>;O
F;HA= $J;C49EC;I<H;;E<9EIJ7D:?J;C3 I;;C JE 8; 7J L7H?7D9; <HEC J>; 9ECCEDBO
C?N;:M?J>?J;C4?IIEB:7JJ>;FH?9;E<FKH;
ADEMD <79JI -;7: 7BB J>; ED9BKI?EDI 7D:
?J;C3 !?D:J>;H7J?EE<4JE3?DJ>;C?NJKH;
J>;D :;9?:; M>?9> E< J>; =?L;D ED9BKI?EDI
7
BE=?97BBO <EBBEMI <EBBEM <HEC J>; .J7J;C;DJI
8
:?IH;=7H:?D=J>;9ECCEDBOADEMD<79JI
9
.J7J;C;DJ BBF;D7H;F;D9?BI
:
.J7J;C;DJ BBF;D9?BI7H;;H7I;HI
.J7J;C;DJ BB;H7I;HI7H;I>7HF;D;HI
$D7L?BB7=;J>;H7J?EE<J>;DKC8;HE<C7B;IJE
<;C7B;I ?I />; H7J?E E< B?J;H7J; C7B;I JE
ED9BKI?ED $BBF;D7H;I>7HF;D;HI
B?J;H7J;<;C7B;I?I />;H7J?EE<J>;DKC8;H
ED9BKI?ED $$BBI>7HF;D;HI7H;F;D9?BI
E<?BB?J;H7J;C7B;IJE?BB?J;H7J;<;C7B;I?I ?<
C7B;I?DJ>;L?BB7=;7H;B?J;H7J;J>;D<?D:
2>?9> E< J>; 78EL; ED9BKI?EDI BE=?97BBO
J>; :?<<;H;D9; 8;JM;;D J>; DKC8;H E< C7B;I
7D:<;C7B;I?DJ>;L?BB7=; <EBBEMI <EBBEM<HECJ>;=?L;D.J7J;C;DJI
7 7 *DBOED9BKI?ED $
8 8 *DBOED9BKI?ED $$
9 9 );?J>;HED9BKI?ED $DEHED9BKI?ED $$

: : EJ>ED9BKI?ED $7D:ED9BKI?ED $$
///3."+"'&"+3"& ;: 6"+"'&

.

$<J>;7D=B;IE<7JH?7D=B;7H;?DJ>;H7J?E
J>;DM>?9>E<J>;<EBBEM?D=IJ7J;C;DJI?IJHK;

7 )E JME I?:;I E< J>; JH?7D=B; 7H; E< ;GK7B
B;D=J>
8 *D;E<J>;7D=B;IE<J>;JH?7D=B;?IE8JKI;
9 />;JH?7D=B;?I7H?=>J7D=B;:JH?7D=B;
: />;JH?7D=B;C7O8;;GK?B7J;H7B
!

///3."+"'&"+3"& ;; 6"+"'&

Free Upsc Premium Channel ww

Vision CSP24 Abhyaas T01CQ freeupscmaterials.org

Uploaded by

Copyright:

Available Formats

You might also like

Vision CSP24 Abhyaas T01CQ freeupscmaterials.org

Uploaded by

Document Information

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

Vision CSP24 Abhyaas T01CQ freeupscmaterials.org

Uploaded by

Copyright:

Available Formats

.

  

E8J7?D;:?I5 M>;H;347D:57H;I?D=B; 7IIKCFJ?EDI>7L;8;;DC7:;

      9EHH;9J

           7 EDBO

///3."+"'&"+3"& ; 6"+"'& 

H;<B;9JI J>; CEIJ BE=?97B 9HK9?7B 7D: H7J?ED7B 7IIKCFJ?EDI>7L;8;;DC7:;

7HJ>IH;IEKH9;I :;=H7:7J?ED J>;H; ?I 7 D;;: JE H;:K9; J>;

" : BB 7D:

#KC7D 79J?L?J?;I 7H; 97KI?D= H7F?: ;DL?HEDC;DJ7B

H;=KB7H87I?I BBJ>;I;FHE8B;CI7H;;N79;H87J;:8O7D 9 

2>?9> E< J>; <EBBEM?D= IJ7J;C;DJI ?I  9BEI;HJEJ>7D>;?IJE

8 7D:7H;8HEJ>;HI JH7DI=;D:;H 97D :E ?D  :7OI  MEC7D :E;I

9 7H;C7B;I7D:?I7<;C7B; J>H;; <EKHJ> J>; MEHA ?D 7 :7O 7I 7

: 7D: 7H;I?IJ;HI JH7DI=;D:;H  9EDJH79JEH >?H;I  F7?HI E<

J>;O I;;C JE 8; 7J L7H?7D9; M?J> 9ECCEDBO 7 

8 EJ>9ED9BKI?EDI$7D:$$<EBBEM       

9 );?J>;H9ED9BKI?ED$DEH$$<EBBEMI     

9 EJ> 7D: C;DJ>;H?I;E<MEC;D >;7:;:>EKI;>EB:I7D:=HEMJ>

"  .?N$DL;IJEHI &7L?J7'7NC7D(7D?I>)?H7@

///3."+"'&"+3"& :: 6"+"'& 

 $<J>;DKC8;HE<9E?DI=?L;DJE,?IJM?9;J>;  7I;: ED J>; 78EL; F7II7=; J>; <EBBEM?D=

 EDI?:;H J>; <EBBEM?D= I;GK;D9; J>7J <EBBEMI

     

" FEI?J?L; <EH9; <EH <EIJ;H?D= ;9EDEC?9

J>;9EKHI;E<>KC7DFEB?J?97B>?IJEHO ;?J>;H8B79AEHM>?J; 79>F;HIED97DI;;J>;

>; H;79>;: "E7  C?DKJ;I B7J; $< J>7J >;BFE<7DOED;IJ7J;C;DJ?D:;F;D:;DJBO

I;;A EJ>;H IEKH9;I EKJI?:; J>;?H >EKI;I IEC;J?C;I 7J

JE 9ECFB;J; J>;?H I9>EEBMEHA !7C?B?;I J>7J :E >7L;

;D;H=O 7J >EC; E<J;D H;BO ED A;HEI;D; B7CFI JE

9 : 7 B;9JH?9?JO :?IJH?8KJ?ED I>EKB: 8;

///3."+"'&"+3"& :B 6"+"'& 

 2>?9> ED; E< J>; <EBBEM?D= IJ7J;C;DJI 8;IJ

///3."+"'&"+3"& ;9 6"+"'& 

H;GK?H;: JE :;J;HC?D; J>; >?=>;IJ ;7HD?D=   

7  7 *DBOED9BKI?ED $

8  8 *DBOED9BKI?ED $$

9  9 );?J>;HED9BKI?ED $DEHED9BKI?ED $$

 ! 

You might also like

E8J7?D;:?I5 M>;H;347D:57H;I?D=B; 7IIKCFJ?EDI>7L;8;;DC7:;

9EHH;9J

7 EDBO

///3."+"'&"+3"& ; 6"+"'&

H;<B;9JI J>; CEIJ BE=?97B 9HK9?7B 7D: H7J?ED7B 7IIKCFJ?EDI>7L;8;;DC7:;

7HJ>IH;IEKH9;I :;=H7:7J?ED J>;H; ?I 7 D;;: JE H;:K9; J>;

" : BB 7D:

H;=KB7H87I?I BBJ>;I;FHE8B;CI7H;;N79;H87J;:8O7D 9

2>?9> E< J>; <EBBEM?D= IJ7J;C;DJI ?I 9BEI;HJEJ>7D>;?IJE

8 7D:7H;8HEJ>;HI JH7DI=;D:;H 97D :E ?D :7OI MEC7D :E;I

9 7H;C7B;I7D:?I7<;C7B; J>H;; <EKHJ> J>; MEHA ?D 7 :7O 7I 7

: 7D: 7H;I?IJ;HI JH7DI=;D:;H 9EDJH79JEH >?H;I F7?HI E<

J>;O I;;C JE 8; 7J L7H?7D9; M?J> 9ECCEDBO 7

8 EJ>9ED9BKI?EDI$7D:$$<EBBEM

9 );?J>;H9ED9BKI?ED$DEH$$<EBBEMI

9 EJ> 7D: C;DJ>;H?I;E<MEC;D >;7:;:>EKI;>EB:I7D:=HEMJ>

" .?N$DL;IJEHI &7L?J7'7NC7D(7D?I>)?H7@

///3."+"'&"+3"& :: 6"+"'&

$<J>;DKC8;HE<9E?DI=?L;DJE,?IJM?9;J>; 7I;: ED J>; 78EL; F7II7=; J>; <EBBEM?D=

EDI?:;H J>; <EBBEM?D= I;GK;D9; J>7J <EBBEMI

" FEI?J?L; <EH9; <EH <EIJ;H?D= ;9EDEC?9

>; H;79>;: "E7 C?DKJ;I B7J; $< J>7J >;BFE<7DOED;IJ7J;C;DJ?D:;F;D:;DJBO

I;;A EJ>;H IEKH9;I EKJI?:; J>;?H >EKI;I IEC;J?C;I 7J

9 : 7 B;9JH?9?JO :?IJH?8KJ?ED I>EKB: 8;

///3."+"'&"+3"& :B 6"+"'&

2>?9> ED; E< J>; <EBBEM?D= IJ7J;C;DJI 8;IJ

///3."+"'&"+3"& ;9 6"+"'&

H;GK?H;: JE :;J;HC?D; J>; >?=>;IJ ;7HD?D=

7 7 *DBOED9BKI?ED $

8 8 *DBOED9BKI?ED $$

9 9 );?J>;HED9BKI?ED $DEHED9BKI?ED $$

!