+PXCECTGs 2TQPVQs '0 2QYGT 9JGGNEJCKT 7UGT /CPWCN 6JKU OCPWCN /756 DG IKXGP VQ VJG WUGT QH VJG RTQFWEV $'(14' WUKPI VJKU RTQFWEV TGCF VJKU OCPWCN CPF UCXG HQT HWVWTG TGHGTGPEG
l +PXCECTGs%QTRQTCVKQP #NN TKIJVU TGUGTXGF 4GRWDNKECVKQP FWRNKECVKQP QT OQFKHKECVKQP KP YJQNG QT KP RCTV KU RTQJKDKVGF YKVJQWV RTKQT YTKVVGP RGTOKUUKQP HTQO +PXCECTG 6TCFGOCTMU CTG KFGPVKHKGF D[ ŗCPF s #NN VTCFGOCTMU CTG QYPGF D[ QT NKEGPUGF VQ +PXCECTG %QTRQTCVKQP QT KVU UWDUKFKCTKGU WPNGUU QVJGTYKUG PQVGF
%QPVGPVU )GPGTCN 5[ODQNU )GPGTCN )WKFGNKPGU 1RGTCVKQP +PHQTOCVKQP 5CHGV[ *CPFNKPI 5CHGV[ *CPFNKPI # 0QVG VQ 9J
4GOQXKPI VJG 5GCV #UUGODN[ +PUVCNNKPI VJG 5GCV #UUGODN[ 4GOQXKPI +PUVCNNKPI VJG 5JTQWF 4GOQXKPI VJG 5JTQWF +PUVCNNKPI VJG 5JTQWF #FLWUVKPI VJG 5GCV *GKIJV $CVVGTKGU
)GPGTCN )GPGTCN 5[ODQNU 5KIPCN U[ODQNU CPF QT YQTFU CTG WUGF KP VJKU OCPWCN CPF CRRN[ VQ JC\CTFU QT WPUCHG RTCEVKEGU YJKEJ EQWNF TGUWNV KP RGTUQPCN KPLWT[ QT RTQRGTV[ FCOCIG 5GG VJG KPHQTOCVKQP DGNQY HQT FGHKPKVKQPU QH VJG UKIPCN YQTFU �)'4 ದ &CPIGT KPFKECVGU C KOOKPGPVN[ JC\CTFQWU UKVWCVKQP YJKEJ KH PQV CXQKFGF EQWNF TGUWNV KP FGCVJ QT UGTKQWU KPLWT[ 9#40+0) ದ 9CTPKPI KPFKECVGU C RQVGPVKCNN[ JC\CTFQWU UKVWCVKQP YJKEJ KH PQV CXQKFGF EQWNF TGUWNV KP FGCVJ QT UGTKQWU KPLWT[ %#76+10 ದ %CW
+PXCECTGs 2TQPVQs �)'4 ದ &1 016 EQPPGEV CP[ OGFKECN FGXKEGU UWEJ CU XGPVKNCVQTU NKHG UWRRQTV OCEJKPGU GVE FKTGEVN[ VQ VJG DCVVGTKGU WUGF VQ RQYGT VJG YJGGNEJCKT 6JKU EQWNF ECWUG WPGZRGEVGF HCKNWTG QH VJG FGXKEG CPF VJG YJGGNEJCKT 9#40+0) 4KUM QH KPLWT[ QT FCOCIG 7UG QH PQP +PXCECTG CEEGUUQTKGU OC[ TGUWNV KP KPLWT[ QT FCOCIG ದ +PXCECTG RTQFWEVU CTG URGEKHKECNN[ FGUKIPGF CPF OCPWHCEVWTGF HQT WUG KP EQPLWPEVKQP YKVJ +PXCECTG CEEGUUQTKGU #EEGUUQTKGU FGUKIPGF D[ QVJGT OCPWHCEVWTGTU JCXG PQV DGGP V
)GPGTCN 1RGTCVKQP +PHQTOCVKQP 5GVWR 9#40+0) 4KUM QH KPLWT[ QT FCOCIG +PEQTTGEV UGV WR QH VJKU YJGGNEJCKT RGTHQTOGF D[ WUGTU ECTGIKXGTU QT WPSWCNKHKGF VGEJPKEKCPU ECP TGUWNV KP KPLWT[ QT FCOCIG ದ 7UGTU %CTGIKXGTU &1 016 CVVGORV VQ UGV WR VJKU YJGGNEJCKT ದ +PKVKCN UGVWR QH VJKU YJGGNEJCKT /756 DG RGTHQTOGF D[ C SWCNKHKGF VGEJPKEKCP 4KUM QH KPLWT[ QT FCOCIG %QPVKPWGF WUG QH VJG YJGGNEJCKT VJCV KU PQV UGV VQ VJG EQTTGEV URGEKHKECVKQPU OC[ ECWUG GTTCVKE DGJCXKQT QH VJG YJGGNEJCKT TGUWNVKPI KP KPLWT
+PXCECTGs 2TQPVQs 6TCPURQTV 9#40+0) ದ &1 016 VTCPURQTV CP QEEWRKGF YJGGNEJCKT KP C OQXKPI XGJKENG ದ #U QH VJKU FCVG VJG &GRCTVOGPV QH 6TCPURQTVCVKQP JCU PQV CRRTQXGF CP[ VKG FQYP U[UVGOU HQT VTCPURQTVCVKQP QH C WUGT YJKNG KP C YJGGNEJCKT KP C OQXKPI XGJKENG QH CP[ V[RG +V KU +PXCECTGʼnU RQUKVKQP VJCV WUGTU QH YJGGNEJCKTU UJQWNF DG VTCPUHGTTGF KPVQ CRRTQRTKCVG UGCVKPI KP XGJKENGU HQT VTCPURQTVCVKQP CPF WUG DG OCFG QH VJG TGUVTCKPVU OCFG CXCKNCDNG D[ VJG CWVQ KPFWUVT[ +PXCECTG ECPPQV CPF FQGU PQV TGE
)GPGTCN 4GOQXG VJG QEEWRCPV HTQO VJG YJGGNEJCKT 4GOQXG VJG DCVVGTKGU HTQO YJGGNEJCKT 4GHGT VQ 4GOQXKPI +PUVCNNKPI VJG $CVVGTKGU RCIG $GPF [QWT MPGGU CPF MGGR [QWT DCEM UVTCKIJV 7UKPI PQP TGOQXCDNG PQP FGVCEJCDNG RCTVU QH VJG YJGGNEJCKT NKHV VJG YJGGNEJCKT QHH QH VJG ITQWPF CPF VTCPUHGT VJG YJGGNEJCKT WR QT FQYP VJG UVCKTU 6JG YJGGNEJCKT UJQWNF PQV DG NQYGTGF WPVKN VJG NCUV UVCKT JCU DGGP PGIQVKCVGF CPF VJG YJGGNEJCKT JCU DGGP ECTTKGF CYC[ HTQO VJG UVCKTYC[ 4GRCKT CPF 5GTXKEG
+PXCECTGs 2TQPVQs 5CHGV[ *CPFNKPI 5CHGV[ *CPFNKPI ŋ5CHGV[ CPF *CPFNKPIŌ QH VJG YJGGNEJCKT TGSWKTGU VJG ENQUG CVVGPVKQP QH VJG YJGGNEJCKT WUGT CU YGNN CU VJG CUUKUVCPV 6JKU OCPWCN RQKPVU QWV VJG OQUV EQOOQP RTQEGFWTGU CPF VGEJPKSWGU KPXQNXGF KP VJG UCHG QRGTCVKQP CPF OCKPVGPCPEG QH VJG YJGGNEJCKT +V KU KORQTVCPV VQ RTCEVKEG CPF OCUVGT VJGUG UCHG VGEJPKSWGU WPVKN [QW CTG EQOHQTVCDNG KP OCPGWXGTKPI CTQWPF VJG HTGSWGPVN[ GPEQWPVGTGF CTEJKVGEVWTCN DCTTKGTU 7UG VJKU KPHQTOCVKQP QPN[ CU C ŋDCUKEŌ IW
5CHGV[ *CPFNKPI 9#40+0) ದ #.9#;5 YGCT [QWT UGCV RQUKVKQPKPI UVTCR 6JG UGCV RQUKVKQPKPI UVTCR KU C RQUKVKQPKPI DGNV QPN[ +V KU PQV FGUKIPGF HQT WUG CU C UCHGV[ FGXKEG YKVJUVCPFKPI JKIJ UVTGUU NQCFU UWEJ CU CWVQ QT CKTETCHV UCHGV[ DGNVU +H UKIPU QH YGCT CRRGCT DGNV OWUV DG TGRNCEGF +//'&+#6'.
+PXCECTGs 2TQPVQs 9#40+0) ದ #NUQ DG CYCTG QH FGVCEJCDNG RCTVU UWEJ CU CTOU QT NGITGUVU 6JGUG OWUV 0'8'4 DG WUGF VQ OQXG VJG YJGGNEJCKT QT CU NKHVKPI UWRRQTVU CU VJG[ OC[ DG KPCFXGTVGPVN[ TGNGCUGF TGUWNVKPI KP RQUUKDNG KPLWT[ VQ VJG WUGT CPF QT CUUKUVCPV U 9JGP NGCTPKPI C PGY CUUKUVCPEG VGEJPKSWG JCXG CP GZRGTKGPEGF CUUKUVCPV JGNR [QW DGHQTG CVVGORVKPI KV CNQPG 5VCDKNKV[ CPF $CNCPEG 6Q CUUWTG UVCDKNKV[ CPF RTQRGT QRGTCVKQP QH [QWT YJGGNEJCKT [QW OWUV CV CNN VKOGU OCKPVCKP RTQRGT DCNCPE
5CHGV[ *CPFNKPI 9#40+0) 4KUM QH +PLWT[ QT &COCIG %CTT[KPI JGCX[ QDLGEVU QP [QWT NCR YJKNG QEEWR[KPI VJG YJGGNEJCKT OC[ CFXGTUGN[ CHHGEV VJG UVCDKNKV[ QH VJG YJGGNEJCKT ದ &1 016 ECTT[ JGCX[ QDLGEVU QP [QWT NCR YJKNG QEEWR[KPI VJG YJGGNEJCKT 9#40+0) 4KUM QH +PLWT[ QT &COCIG 6JKU YJGGNEJCKT JCU DGGP FGUKIPGF VQ CEEQOOQFCVG QPG KPFKXKFWCN +H OQTG VJCP QPG KPFKXKFWCN QEEWRKGU VJG YJGGNEJCKT VJKU OC[ CFXGTUGN[ CHHGEV VJG UVCDKNKV[ QH VJG YJGGNEJCKT TGUWNVKPI KP UGTKQWU DQFKN[ KPLWT[ VQ VJG WUGT RCUUGPIGT
+PXCECTGs 2TQPVQs (QQVDQCTF 9#40+0) 4KUM QH KPLWT[ QT FCOCIG 1RGTCVKPI VJG YJGGNEJCKT YKVJ C ITQWPF ENGCTCPEG QH NGUU VJCP KPEJGU DGVYGGP VJG HQQVDQCTF CPF VJG ITQWPF HNQQT OC[ ECWUG KPLWT[ QT GSWKROGPV RTQRGTV[ FCOCIG ದ #.
5CHGV[ *CPFNKPI 'PICIG OQVQT NQEMU CPF VWTP RQYGT QHH DGHQTG TGCEJKPI NGCPKPI QT DGPFKPI QPN[ CU HCT CU [QWT CTO YKNN GZVGPF YKVJQWV EJCPIKPI [QWT UKVVKPI RQUKVKQP 2QUKVKQP VJG ECUVGTU UQ VJCV VJG[ CTG GZVGPFGF CYC[ HTQO VJG FTKXG YJGGNU CPF GPICIG YJGGN NQEMU OQVQT NQEMU ENWVEJGU 4GCEJKPI $GPFKPI $CEMYCTF 9#40+0) 4KUM QH KPLWT[ .
+PXCECTGs 2TQPVQs 2QUKVKQP VJG YJGGNEJCKT VQ OKPKOK\G VJG ICR FKUVCPEG DGVYGGP VJG RGTUQPCN VTCPURQTVGT UGCV CPF VJG UGCV VQ YJKEJ [QW CTG VTCPUHGTTKPI 'PUWTG VJG ECUVGTU CTG CNKIPGF RCTCNNGN YKVJ VJG QDLGEV 'PUWTG HQQVDQCTF KU KP WR RQUKVKQP 7PNGUU DGKPI WUGF HQT UWRRQTV RNCEG CTOTGUVU KP XGTVKECN RQUKVKQP 'PICIG OQVQT NQEMU 5JKHV DQF[ YGKIJV KPVQ UGCV YKVJ VTCPUHGT 9#40+0) 4KUM QH FCOCIG 1RGTCVKPI VJG YJGGNEJCKT KP TCKP QT FCORPGUU YKNN ECWUG VJG YJGGNEJCKT VQ OCNHWPEVKQP G
5CHGV[ *CPFNKPI 9#40+0) ದ &1 016 WPFGT CP[ EKTEWOUVCPEGU EWV QT TGOQXG VJG TQWPF ITQWPFKPI RTQPI HTQO CP[ RNWI WUGF YKVJ QT HQT +PXCECTG RTQFWEVU 5QOG FGXKEGU CTG GSWKRRGF YKVJ VJTGG RTQPI ITQWPFKPI RNWIU HQT RTQVGEVKQP CICKPUV RQUUKDNG UJQEM JC\CTFU 9JGTG C VYQ RTQPI YCNN TGEGRVCENG KU GPEQWPVGTGF KV KU VJG RGTUQPCN TGURQPUKDKNKV[ CPF QDNKICVKQP QH VJG EWUVQOGT VQ EQPVCEV C SWCNKHKGF GNGEVTKEKCP CPF JCXG VJG VYQ RTQPI TGEGRVCENG TGRNCEGF YKVJ C RTQRGTN[ ITQWPFGF VJTGG RTQPI YCNN TGEGRVCENG KP CEEQTF
+PXCECTGs 2TQPVQs 9GKIJV 6TCKPKPI 9#40+0) 4KUM QH +PLWT[ QT &COCIG +PXCECTG &1'5 016 TGEQOOGPF VJG WUG QH KVU YJGGNEJCKTU CU C YGKIJV VTCKPKPI CRRCTCVWU +PXCECTG YJGGNEJCKTU JCXG 016 DGGP FGUKIPGF QT VGUVGF CU C UGCV HQT CP[ MKPF QH YGKIJV VTCKPKPI 7UKPI UCKF YJGGNEJCKT HQT YGKIJV VTCKPKPI EQWNF TGUWNV KP UGTKQWU DQFKN[ KPLWT[ VQ VJG WUGT FCOCIG VQ VJG YJGGNEJCKT CPF UWTTQWPFKPI RTQRGTV[ #NUQ KH QEEWRCPV WUGU UCKF YJGGNEJCKT CU C YGKIJV VTCKPKPI CRRCTCVWU +PXCECTG UJCNN 016 DG NKCDNG HQT
5CHGV[ *CPFNKPI 1VJGT V[RGU QH JCPFJGNF FGXKEGU UWEJ CU EQTFNGUU RJQPGU NCRVQR EQORWVGTU #/ (/ TCFKQU 68 UGVU %& RNC[GTU ECUUGVVG RNC[GTU CPF UOCNN CRRNKCPEGU UWEJ CU GNGEVTKE UJCXGTU CPF JCKT FT[GTU UQ HCT CU YG MPQY CTG PQV NKMGN[ VQ ECWUG '/+ RTQDNGOU VQ [QWT RQYGTGF YJGGNEJCKT 2QYGTGF 9JGGNEJCKT 'NGEVTQOCIPGVKE +PVGTHGTGPEG '/+ $GECWUG '/ GPGTI[ TCRKFN[ DGEQOGU OQTG KPVGPUG CU QPG OQXGU ENQUGT VQ VJG VTCPUOKVVKPI CPVGPPC UQWTEG VJG '/ HKGNFU HTQO JCPFJGNF TCFKQ YCXG UQWTEGU VTCPU
+PXCECTGs 2TQPVQs 9CTTCPV[ )NQDCN .KOKVGF 9CTTCPV[ 2.'#5' 016' 6*' 9#44#06; $'.19 *#5 $''0 &4#(6'& 61 %1/2.; 9+6* ('&'4#. .#9 #22.+%#$.' 61 241&7%65 /#07(#%674'& #(6'4 ,7.
9CTTCPV[ OQVQTU CPF IGCTDQZGU FQGU PQV EQPUVKVWVG C HCKNWTG QT FGHGEV CPF YKNN PQV DG TGRCKTGF CNN FGXKEGU YKNN GZJKDKV EJCPIGU KP QRGTCVKPI PQKUG FWG VQ CIKPI 6JG HQTGIQKPI GZRTGUU YCTTCPV[ KU GZENWUKXG CPF KP NKGW QH CP[ QVJGT YCTTCPVKGU YJCVUQGXGT YJGVJGT GZRTGUU QT KORNKGF KPENWFKPI VJG KORNKGF YCTTCPVKGU QH OGTEJCPVCDKNKV[ CPF HKVPGUU HQT C RCTVKEWNCT RWTRQUG CPF VJG UQNG TGOGF[ HQT XKQNCVKQPU QH CP[ YCTTCPV[ YJCVUQGXGT UJCNN DG NKOKVGF VQ TGRCKT QT TGRNCEGOGPV QH VJG FGHGEVKXG RTQFWEV RWTUWCPV
+PXCECTGs 2TQPVQs 1XGTXKGY .CDGN .QECVKQP %QORQPGPV +FGPVKHKECVKQP +6'/ &'5%4+26+10 +6'/ &'5%4+26+10 # *GCFTGUV ) 5JTQWF $ $CEM * (QQVTGUV % ,Q[UVKEM + #PVK 6KRRGT & ,Q[UVKEM #FLWUVOGPV -PQD , &TKXG 9JGGN ' 5GCV - 4GCT %CUVGT ( 5GCV .QEM *CPFNG .
1XGTXKGY +6'/ 2#46 07/$'4 # ņ $ Ň #` .#$'. .1%#6+10 +6'/ 2#46 07/$'4 .#$'. .
+PXCECTGs 2TQPVQs +6'/ 2#46 07/$'4 .#$'. .1%#6+10 +6'/ 2#46 07/$'4 ' * ( + ) , .#$'. .
1XGTXKGY 2TQFWEV &GUETKRVKQP 2TQPVQ YJGGNEJCKT KU DCVVGT[ RQYGTGF HTQPV YJGGN OQVQT FTKXGP CPF EQPVTQNNGF D[ VJG 2) RQYGT YJGGNEJCKT 84 COR EQPVTQNNGT 6JG WUGT KPVGTHCEG KU C LQ[UVKEM 2TQPVQ KU RQYGTGF D[ VYQ 8&% CJ 7 DCVVGTKGU 6JG DCVVGTKGU CTG EJCTIGF D[ C # QHH DQCTGF EJCTIGT EQPPGEVGF YKVJ ņRKP EQPPGEVQT VQ VJG EJCTIKPI UQEMGV QP VJG LQ[UVKEM 6JG CRRTQZKOCVG FTKXKPI TCPIG QP HWNN[ EJCTIGF DCVVGTKGU KU WR VQ OKNGU MO 6JG EJCKT HTCOG KU C TKXGF PWV CPF YGNFGF UVGGN
+PXCECTGs 2TQPVQs 6GEJPKECN &CVC 6[RKECN 2TQFWEV 2CTCOGVGTU 1XGTCNN &KOGPUKQPU /1&'.5 2 $.#%- 2 $.7' 1XGTCNN .
9JGGNEJCKT 1RGTCVKQP 9JGGNEJCKT 1RGTCVKQP 6JG LQ[UVKEM CUUGODN[ KU HCEVQT[ KPUVCNNGF QP VJG TKIJV UKFG QH VJG YJGGNEJCKT 6Q TGRQUKVKQP VJG LQ[UVKEM QPVQ VJG NGHV UKFG QH VJG YJGGNEJCKT TGHGT VQ /QXKPI ,Q[UVKEM #UUGODN[ (TQO 1PG #TOTGUV 6Q 6JG 1VJGT #TOTGUV RCIG 2TGRCTKPI VJG ,Q[UVKEM #UUGODN[ HQT 7UG 9#40+0) ದ #HVGT #0; CFLWUVOGPVU TGRCKT QT UGTXKEG CPF DGHQTG WUG OCMG UWTG VJCV CNN CVVCEJKPI JCTFYCTG KU VKIJVGPGF UGEWTGN[ QVJGTYKUG KPLWT[ QT FCOCIG OC[ TGUWNV ದ 5GV WR QH VJG 'NGEV
+PXCECTGs 2TQPVQs 7UKPI VJG ,Q[UVKEM VQ &TKXG VJG 9JGGNEJCKT 6JG LQ[UVKEM KU NQECVGF QP VJG LQ[UVKEM JQWUKPI CPF RTQXKFGU UOQQVJ EQPVTQN QH URGGF CPF FKTGEVKQP +V KU GSWKRRGF YKVJ FGITGGU QH OQDKNKV[ HQT GCUG QH QRGTCVKQP 6JG LQ[UVKEM KU URTKPI NQCFGF CPF CWVQOCVKECNN[ TGVWTPU VQ VJG WRTKIJV PGWVTCN RQUKVKQP YJGP TGNGCUGF 2WUJKPI VJG LQ[UVKEM KP C IKXGP FKTGEVKQP ECWUGU VJG YJGGNEJCKT VQ OQXG KP VJCV FKTGEVKQP 6JG LQ[UVKEM JCU RTQRQTVKQPCN FTKXG EQPVTQN OGCPKPI VJCV VJG HWTVJGT KV KU RWU
9JGGNEJCKT 1RGTCVKQP ,Q[UVKEM #UUGODN[ 5YKVEJGU CPF +PFKECVQTU +6'/ &'5%4+26+10 # 1P 1HH $WVVQP $ 5RGGFQOGVGT % &GETGCUG 5RGGF %QPVTQN $WVVQP & +PETGCUG 5RGGF %QPVTQN $WVVQP ' ,Q[UVKEM ( %JCTIGT 2TQITCOOKPI +PRWV ) +PHQTOCVKQP )CWIG &KURNC[ * *QTP 1P 1HH $WVVQP 5RGGFQOGVGT 5RGGF %QPVTQN $WVVQPU 6JG 1P 1HH DWVVQP $ KU NQECVGF CV VJG HTQPV QH VJG LQ[UVKEM JQWUKPI +V KU WUGF VQ VWTP VJG YJGGNEJCKT RQYGT 1P CPF 1HH 6JG URGGFQOGVGT % KU WUGF VQ UJQY VJG OCZKOW
+PXCECTGs 2TQPVQs ,Q[UVKEM 6JG LQ[UVKEM ( JCU RTQRQTVKQPCN FTKXG EQPVTQN OGCPKPI VJCV VJG HWTVJGT VJG LQ[UVKEM KU RWUJGF HTQO VJG WRTKIJV EGPVGT PGWVTCN RQUKVKQP VJG HCUVGT VJG YJGGNEJCKT QT UGCV OQXGU ;QWT VQR URGGF JQYGXGT KU NKOKVGF D[ VJG RTQITCOOGF UGVVKPIU 6JG YJGGNEJCKT JCU CWVQOCVKE URGGF CPF FKTGEVKQP EQORGPUCVKQP VQ OKPKOK\G EQTTGEVKQPU *QTP 6JG JQTP + KU WUGF VQ UKIPCN D[UVCPFGTU QH [QWT RTGUGPEG -GGR $CVVGTKGU EJCTIGF 9JGP RQUUKDNG &1 016 CNNQY DCVVGT[ EJCTIG VQ IQ
9JGGNEJCKT 1RGTCVKQP 9#40+0) ದ 0'8'4 CVVGORV VQ TGEJCTIG VJG DCVVGTKGU D[ CVVCEJKPI ENCORU QT ECDNGU FKTGEVN[ VQ VJG DCVVGT[ VGTOKPCNU QT ENCORU #.
+PXCECTGs 2TQPVQs 4GSWKTGF +VGOU 611. 36; %1//'065 $CVVGT[ %JCTIGT 5WRRNKGF #VVCEJ VJG DCVVGT[ EJCTIGT EQPPGEVQT VQ VJG EJCTIGT RQTV $ QP VJG LQ[UVKEM CUUGODN[ 2NWI VJG EJCTIGTʼnU #% RQYGT EQTF QT GZVGPUKQP KPVQ VJG ITQWPFGF 8#% YCNN QWVNGV 9JGP EJCTIG KU EQORNGVG FKUEQPPGEV EJCTIGT HTQO GNGEVTKECN QWVNGV &KUEQPPGEV QWVRWV ECDNG HTQO EJCTIGT RQTV #NNQY GKIJV JQWTU HQT PQTOCN EJCTIKPI .
9JGGNEJCKT 1RGTCVKQP 9#40+0) ದ &1 016 GPICIG QT FKUGPICIG OQVQT NQEM NGXGTU WPVKN VJG RQYGT KU KP VJG 1(( RQUKVKQP 9#40+0) 4KUM QH KPLWT[ QT FCOCIG &KUGPICIGF OQVQT NQEM NGXGTU YJKNG QP CP KPENKPG EQWNF TGUWNV KP VJG YJGGNEJCKT TQNNKPI FQYP VJG KPENKPG QP KVU QYP ದ &1 016 FKUGPICIG VJG OQVQT NQEM NGXGTU YKVJQWV VJG RTGUGPEG QH CP CVVGPFCPV /QVQT NQEM $ FKUGPICIGOGPV CNNQYU HQT HTGG YJGGNKPI (TGG YJGGNKPI KU VJG CDKNKV[ HQT CP CUUKUVCPV VQ OCPGWXGT VJG YJGGNEJCKT YKVJQWV RQYGT D[ FKUGPICIKPI VJG FTKXG
+PXCECTGs 2TQPVQs %QORQPGPV #FLWUVOGPV #FLWUVKPI VJG $CEM #PING 9#40+0) 4KUM QH +PLWT[ 6JG $CEM KU URTKPI NQCFGF 9JGP VJG $CEM KU KP VJG WRTKIJV RQUKVKQP CPF VJG YJGGNEJCKT KU WPQEEWRKGF NKHVKPI WR QP VJG TGNGCUG NGXGT ECWUGU VJG $CEM VQ TCRKFN[ HQNF FQYP VQYCTF VJG UGCV YJKEJ OC[ TGUWNV KP KPLWT[ ದ *QNF VJG $CEM KP RNCEG YKVJ QPG JCPF YJKNG NKHVKPI VJG TGNGCUG NGXGT YKVJ VJG QVJGT JCPF VQ CXQKF KPLWT[ 9#40+0) 4KUM QH +PLWT[ 4GFWEGF UVCDKNKV[ QH VJG YJGGNEJCKT QEEWTU YJGP VJG YJGGNEJCKT KU
%QORQPGPV #FLWUVOGPV 9JKNG UGCVGF KP VJG YJGGNEJCKT NKHV WR QP VJG TGNGCUG JCPFNG $ CPF CFLWUV VJG $CEM % VQ FGUKTGF CPING .GV IQ QH VJG TGNGCUG JCPFNG $ VQ NQEM VJG $CEM % CV FGUKTGF CPING #TOTGUV #FLWUVOGPV Ň 9KFVJ *GKIJV CPF #PING Ő 6Q CFLWUV VJG YKFVJ .
+PXCECTGs 2TQPVQs #FLWUVKPI VJG (QQVDQCTF #UUGODN[ #FLWUVKPI 6JG (QQVDQCTF #PING 9#40+0) ದ #HVGT CP[ CFLWUVOGPVU TGRCKT QT UGTXKEG CPF DGHQTG WUG OCMG UWTG VJCV CNN CVVCEJKPI JCTFYCTG KU VKIJVGPGF UGEWTGN[ QVJGTYKUG KPLWT[ QT FCOCIG OC[ TGUWNV ದ $GHQTG RGTHQTOKPI CP[ OCKPVGPCPEG CFLWUVOGPV QT UGTXKEG XGTKH[ VJCV QP QHH UYKVEJ QP VJG LQ[UVKEM KU KP VJG QHH RQUKVKQP ದ &1 016 UVCPF QP VJG HNKR WR HQQVDQCTF 9JGP IGVVKPI KP QT QWV QH VJG YJGGNEJCKT OCMG UWTG VJCV VJG HNKR WR HQQVDQCTF KU
%QORQPGPV #FLWUVOGPV #FLWUVKPI VJG (QQVDQCTF *GKIJV 4GOQXG VJG UGCV 4GHGT VQ 4GOQXKPI +PUVCNNKPI VJG 5GCV #UUGODN[ RCIG 4GOQXG VJG VQR UJTQWF 4GHGT VQ 4GOQXKPI +PUVCNNKPI VJG 5JTQWF RCIG 4GOQXG VJG VYQ OQWPVKPI UETGYU $ CPF NQEMPWVU % VJCV UGEWTG VJG HQQVDQCTF & VQ VJG UWRRQTV DTCEMGV ' QP VJG DCUG HTCOG ( #FLWUV HQQVDQCTF VQ FGUKTGF JGKIJV CPF CNKIP YKVJ EQTTGURQPFKPI OQWPVKPI JQNGU QP VJG HQQVDQCTF UWRRQTV DTCEMGV 5GEWTG VJG HQQVDQCTF VQ VJG UWRRQTV DTCEMGV YKV
+PXCECTGs 2TQPVQs 6JG UGCV ECP TQVCVG u CPF KV NQEMU KPVQ RNCEG CV GCEJ u TQVCVKQP .
5GVWR 5GVWR 4GOQXKPI VJG 5GCV #UUGODN[ 9#40+0) 4KUM QH +PLWT[ 6JG $CEM KU URTKPI NQCFGF .
+PXCECTGs 2TQPVQs +PUVCNNKPI VJG 5GCV #UUGODN[ 9JGP RGTHQTOKPI 56'2 GPUWTG VJG UGCV KU HCEKPI HQTYCTF WRQP KPUVCNNCVKQP )TCD CPF JQNF VJG TGNGCUG NGXGT ' YKVJ QPG JCPF CPF TQVCVG VJG NGXGT DCEMYCTFU VQ FKUGPICIG VJG UGCV NQEMKPI OGEJCPKUO )TCD VJG QRRQUKVG UKFG QH VJG UGCV CUUGODN[ ( YKVJ VJG QVJGT JCPF .KHV VJG UGCV CUUGODN[ WR CPF KPUGTV VJG UGCV UWRRQTV + KPVQ VJG UGCV RQUV ) QH VJG DCUG * .GV IQ QH VJG TGNGCUG NGXGT 9#40+0) 4KUM QH KPLWT[ QT FCOCIG .
5GVWR 5YKXGN VJG UGCV HTQO UKFG VQ UKFG CPF NKUVGP HQT VJG NQEMKPI OGEJCPKUO VQ GPICIG KPVQ VJG UGCV RQUV 7UKPI DQVJ JCPFU VQ JQNF VJG UJTQWF TGCT $ UNKIJVN[ RWNN WR VJG TGCT GPF QH VJG UJTQWF VQ TGNGCUG VJG TGCT JQQMU HTQO VJG DTCEMGV QP VJG DCVVGT[ VTC[ 9KVJ QPG JCPF QP VJG UJTQWF TGCT $ CPF QPG JCPF QP VJG UJTQWF HTQPV % UNKIJVN[ OQXG VJG UJTQWF DCEMYCTF 6JKU YKNN TGNGCUG VJG HTQPV JQQMU HTQO VJG DTCEMGV QP DCUG HTCOG #HVGT DQVJ JQQMU CTG TGNGCUGF HTQO VJG HTQPV HTCOG CPF TGCT DCVVGT
+PXCECTGs 2TQPVQs +PUVCNNKPI VJG 5JTQWF 0QVG VJCV VJGTG CTG VYQ JQQMU & CV VJG TGCT GPF QH VJG UJTQWF HQT CNKIPKPI YKVJ VJG DTCEMGVU ' QP VJG DCVVGT[ VTC[ *QNFKPI VJG HTQPV GPF CPF TGCT GPF QH VJG UJTQWF ( CPF CNKIPKPI QRGPKPI YKVJ UGCV RQUV ) NQYGT UJTQWF QPVQ DCUG HTCOG * 0QVG VJCV VJGTG CTG VYQ JQQMU $ CV VJG HTQPV GPF QH VJG UJTQWF HQT CNKIPKPI YKVJ VJG DTCEMGVU % QP VJG HTQPV QH VJG DCUG HTCOG #`
5GVWR 9KVJ VJG TGCT GPF QH VJG UJTQWF TCKUGF UNKIJVN[ CNKIP VJG HTQPV UJTQWF JQQMU YKVJ VJG DTCEMGVU QH VJG DCUG HTCOG 5NKIJVN[ OQXG VJG UJTQWF HQTYCTF VQ GPUWTG VJG JQQMU GPICIG VJG DTCEMGVU #FLWUVKPI VJG 5GCV *GKIJV 2WUJ FQYP QP VJG TGCT QH VJG UJTQWF VQ OCMG VJG TGCT JQQMU GPICIG KPVQ VJG DTCEMGVU #`
+PXCECTGs 2TQPVQs 4GOQXG VJG UGCV 4GHGT VQ 4GOQXKPI +PUVCNNKPI VJG 5GCV #UUGODN[ RCIG 4GOQXG VJG OQWPVKPI UETGY $ YCUJGTU % CPF NQEMPWV & VJCV UGEWTGU VJG UGCV RQUV ' VQ VJG DCUG HTCOG ( #FLWUV VJG UGCV RQUV ' VQ QPG QH VJTGG OQWPVKPI RQUKVKQPU ) 5GEWTG VJG UGCV RQUV VQ VJG DCUG HTCOG KP VJG FGUKTGF OQWPVKPI RQUKVKQP YKVJ VJG OQWPVKPI UETGY YCUJGTU CPF NQEMPWV 6KIJVGP UGEWTGN[ +PUVCNN VJG UGCV 4GHGT VQ 4GOQXKPI +PUVCNNKPI VJG 5GCV #UUGODN[ RCIG $CVV
5GVWR 9#40+0) ದ +H VJGTG KU DCVVGT[ CEKF KP VJG DQVVQO QH VJG DCVVGT[ VTC[ QT QP VJG UKFGU QH CP[ DCVVGT[ CRRN[ DCMKPI UQFC VQ VJGUG CTGCU VQ PGWVTCNK\G VJG DCVVGT[ CEKF $GHQTG TGKPUVCNNKPI VJG GZKUVKPI QT CP[ PGY DCVVGT[ ENGCP VJG DCMKPI UQFC HTQO VJG DCVVGT[ VTC[ QT CP[ DCVVGT[ DGKPI UWTG VQ CXQKF EQPVCEV YKVJ UMKP CPF G[GU &GVGTOKPG UQWTEG QH EQPVCOKPCVKQP 0GXGT KPUVCNN TGKPUVCNN C DCVVGT[ YKVJ C ETCEMGF QT QVJGTYKUG FCOCIGF ECUG +6'/ &'5%4+26+10 # 7 $CVVGT[ $ 2QUKVKXG $CVVGT[ 6GTOKPC
+PXCECTGs 2TQPVQs 4GEQOOGPFGF DCVVGT[ V[RG KU URKNN RTQQH CPF TGSWKTGU PQ OCKPVGPCPEG GZEGRV TQWVKPG EJCTIKPI %JCTIG DCVVGTKGU FCKN[ &Q PQV CNNQY DCVVGTKGU VQ EQORNGVGN[ FKUEJCTIG 6Q EJCTIG DCVVGTKGU TGHGT VQ %JCTIKPI $CVVGTKGU RCIG +PXCECTG TGEQOOGPFU VJCV DQVJ DCVVGTKGU DG TGRNCEGF KH QPG DCVVGT[ KU FGHGEVKXG #`
5GVWR 4GOQXKPI +PUVCNNKPI VJG $CVVGTKGU 4GOQXKPI VJG $CVVGTKGU &KUEQPPGEV VJG LQ[UVKEM 4GOQXG VJG UGCV 4GHGT VQ 4GOQXKPI +PUVCNNKPI VJG 5GCV #UUGODN[ RCIG 4GOQXG VJG VQR UJTQWF 4GHGT VQ 4GOQXKPI +PUVCNNKPI VJG 5JTQWF RCIG &KUEQPPGEV QPG DCVVGT[ ECDNG EQPPGEVQT $ HTQO VJG EQPVTQNNGT EQPPGEVQT % &KUEQPPGEV TGOCKPKPI DCVVGT[ ECDNG EQPPGEVQT $ HTQO VJG EQPVTQNNGT EQPPGEVQT % &KUEQPPGEV JQQM CPF NQQR HCUVGPGT & 4GOQXG VJG JQQM CPF NQQR HCUVGPGT HTQO V
+PXCECTGs 2TQPVQs 6JTGCF VJG JQQM CPF NQQR HCUVGPGT & VJTQWIJ VJG UNQV KP VJG CPEJQT RNCVG ' NQECVGF KP VJG TGCT QH VJG DCVVGT[ VTC[ %QPPGEV VJG JQQM CPF NQQR HCUVGPGT %QPPGEV QPG DCVVGT[ ECDNG EQPPGEVQT $ VQ VJG EQPVTQNNGT EQPPGEVQT % %QPPGEV VJG TGOCKPKPI DCVVGT[ ECDNG EQPPGEVQT $ VQ VJG EQPVTQNNGT EQPPGEVQT % +PUVCNN VQR UJTQWF 4GHGT VQ 4GOQXKPI +PUVCNNKPI VJG 5JTQWF RCIG +PUVCNN VJG UGCV 4GHGT VQ 4GOQXKPI +PUVCNNKPI VJG 5GCV #UUGODN[ RCIG %QPPGEV LQ[UVK
5GVWR %QPPGEVKPI $CVVGT[ %CDNGU 9#40+0) ದ 0'8'4 CNNQY CP[ QH [QWT VQQNU CPF QT DCVVGT[ ECDNG U VQ EQPVCEV DQVJ DCVVGT[ VGTOKPCN U RQUV U CV VJG UCOG VKOG #P GNGEVTKECN UJQTV OC[ QEEWT CPF UGTKQWU RGTUQPCN KPLWT[ QT FCOCIG OC[ QEEWT ದ 6JG WUG QH TWDDGT INQXGU KU TGEQOOGPFGF YJGP YQTMKPI YKVJ DCVVGTKGU ದ #NYC[U WUG 7 DCVVGTKGU YKVJ VJG EQTTGEV DCVVGT[ VGTOKPCN EQPHKIWTCVKQP 4GHGT VQ ದ #NN DCVVGT[ VGTOKPCN EQXGTU VYQ QP VJG HTQPV DCVVGT[ CPF VYQ QP VJG TGCT DCVVGT[ OWUV DG KPUVCNNGF RTKQT VQ
+PXCECTGs 2TQPVQs %QPPGEVKPI /QXKPI ,Q[UVKEM #UUGODN[ (TQO 1PG #TOTGUV 6Q 6JG 1VJGT #TOTGUV 4GOQXKPI ,Q[UVKEM #UUGODN[ HTQO 'ZKUVKPI #TOTGUV 9#40+0) ದ 6JG LQ[UVKEM EQPPGEVQT CPF EQPVTQNNGT EQPPGEVQT HKV VQIGVJGT KP QPG YC[ QPN[ &1 016 HQTEG VJGO VQIGVJGT *QNF VJG LQ[UVKEM EQPPGEVQT $ YKVJ QPG JCPF CPF VJG EQPVTQNNGT EQPPGEVQT % KP VJG QVJGT JCPF #NKIP VJG EQPPGEVQTU .
5GVWR %WV VKG YTCR $ .QQUGP CFLWUVOGPV MPQD % .1%-'& 70.
+PXCECTGs 2TQPVQs 7PNQEM GCEJ OQWPVKPI ENKR ' D[ RTGUUKPI QWVYCTF QP VJG NQEMKPI VCD * CPF CYC[ HTQO VJG TKPI VCD + 6JKU YKNN FKUGPICIG VJG VGGVJ , QH VJG TKPI VCD HTQO VJG NQEMKPI VCD 6JG OQWPVKPI ENKR UJQYP KU NQECVGF QP VJG DQVVQO QH VJG UGCV RNCVG ) 4GOQXG LQ[UVKEM CUUGODN[ HTQO CTOTGUV +PUVCNNKPI ,Q[UVKEM #UUGODN[ 1PVQ 1VJGT #TOTGUV %#76+10 4KUM QH FCOCIG VQ YJGGNEJCKT CPF QT UWTTQWPFKPI RTQRGTV[ ,Q[UVKEM ECDNG VJCV KU PQV TQWVGF RTQRGTN[ OC[ TGUWNV KP FCOCIG VQ YJGGNEJCKT CPF QT U
5GVWR 5GEWTG LQ[UVKEM ECDNG VQ XGTVKECN UWRRQTV VWDG YKVJ VKG YTCR ) 70.1%-'& +PUVCNN LQ[UVKEM ECDNG , KPVQ OQWPVKPI ENKR ' NQECVGF QP DCEM UKFG QH VJG UGCV HTCOG CPF KH PGEGUUCT[ KPUVCNN ECDNG KPVQ VJG OQWPVKPI ENKR NQECVGF QP DQVVQO QH VJG UGCV RNCVG .
+PXCECTGs 2TQPVQs /CKPVGPCPEG 5GVWR &GNKXGT[ +PURGEVKQP 5GVWR FGNKXGT[ KPURGEVKQP UJQWNF DG RGTHQTOGF D[ FGCNGT CV VKOG QH FGNKXGT[ UGV WR +PKVKCN CFLWUVOGPVU UJQWNF DG OCFG VQ UWKV [QWT RGTUQPCN DQF[ UVTWEVWTG PGGFU CPF RTGHGTGPEG 6JGTGCHVGT YGGMN[ OQPVJN[ CPF RGTKQFKE KPURGEVKQPU UJQWNF DG RGTHQTOGF D[ WUGT CVVGPFCPV DGVYGGP VJG UKZ OQPVJ UGTXKEG KPURGEVKQPU 'XGT[ UKZ OQPVJU CPF CU PGEGUUCT[ JCXG C SWCNKHKGF VGEJPKEKCP RGTHQTO C VJQTQWIJ KPURGEVKQP CPF UGTXKEKPI QP [QWT YJGGNEJCKT %JG
/CKPVGPCPEG +PURGEV #FLWUV 2GTKQFKECNN[ Ő 'PUWTG YJGGNEJCKT TQNNU UVTCKIJV PQ GZEGUUKXG FTCI QT RWNN VQ Ő Ő Ő Ő Ő Ő Ő Ő QPG UKFG +PURGEV CNN QRGTCVQT WUGT CVVGPFCPV CFLWUVCDNG HCUVGPGTU KPENWFKPI VJG DCEM RCP DCEM ECPG CPF CPING CFLWUVOGPV HCUVGPGTU CPF VJG CTO UWRRQTV HNKR DCEM CPF JGKIJV CFLWUVOGPV HCUVGPGTU 'PUWTG HCUVGPGTU CTG UGEWTGN[ VKIJVGPGF 'PUWTG CTOU CTG UGEWTG DWV GCU[ VQ TGNGCUG CPF CFLWUVOGPV MPQDU GPICIG RTQRGTN[ 'PUWTG CTOU CTG CV EQTTGEV JGKIJV CPF CTG NQEMGF UGEWTGN[
+PXCECTGs 2TQPVQs 'PUWTG YJGGNU ECUVGTU JCXG RTQRGT VGPUKQP YJGP YJGGNU ECUVGTU CTG URWP YJGP HTGG YJGGNKPI 9JGGNU ECUVGTU UJQWNF EQOG VQ C ITCFWCN UVQR .
#EEGUUQTKGU #EEGUUQTKGU #EEGUUQT[ 9CTPKPIU CPF +PHQTOCVKQP 9#40+0) ದ #HVGT CP[ CFLWUVOGPVU TGRCKT QT UGTXKEG CPF DGHQTG WUG OCMG UWTG VJCV CNN CVVCEJKPI JCTFYCTG KU VKIJVGPGF UGEWTGN[ 1VJGTYKUG KPLWT[ QT FCOCIG OC[ TGUWNV ದ $GHQTG RGTHQTOKPI CP[ OCKPVGPCPEG CFLWUVOGPV QT UGTXKEG XGTKH[ VJCV QP QHH UYKVEJ QP VJG LQ[UVKEM KU KP VJG QHH RQUKVKQP 6JG YCNMGT JQNFGT ETWVEJ ECPG JQNFGT TGCT DCUMGV CPF QZ[IGP JQNFGT CNN KPUVCNN KPVQ VJG CEEGUUQT[ VWDG 1PN[ QPG OC[ DG KPUVCNNGF CV C VKOG 6JGT
+PXCECTGs 2TQPVQs 4GOQXG VJG GPF VWDG ECR $ QWV QH VJG CEEGUUQT[ VWDG % -GGR GPF VWDG ECR HQT HWVWTG WUG .QQUGP DWV FQ PQV TGOQXG VJG OQWPVKPI MPQD & QP VJG CEEGUUQT[ VWDG +PUVCNN VJG YCNMGT JQNFGT ' KPVQ VJG CEEGUUQT[ VWDG 5GEWTGN[ VKIJVGP VJG OQWPVKPI MPQD VQ UGEWTG YCNMGT JQNFGT KP RNCEG .
#EEGUUQTKGU +PUVCNN VJG ETWVEJ ECPG JQNFGT ' KPVQ VJG CEEGUUQT[ VWDG 5GEWTGN[ VKIJVGP VJG OQWPVKPI MPQD VQ UGEWTG ETWVEJ ECPG JQNFGT KP RNCEG 4GOQXKPI VJG %TWVEJ %CPG *QNFGT .QQUGP DWV FQ PQV TGOQXG VJG OQWPVKPI MPQD & 4GOQXG VJG ETWVEJ ECPG JQNFGT ' HTQO VJG CEEGUUQT[ VWDG % 6KIJVGP VJG OQWPVKPI MPQD +PUGTV GPF VWDG ECR $ KPVQ VJG CEEGUUQT[ VWDG 7UKPI VJG %TWVEJ %CPG *QNFGT /1&'. 2 /1&'. 2 /1&'. #%% /1&'.
+PXCECTGs 2TQPVQs +PUVCNNKPI 4GOQXKPI VJG 4GCT $CUMGV +PUVCNNKPI VJG 4GCT $CUMGV 9#40+0) 4KUM QH +PLWT[ QT &COCIG +PETGCUGF NGPIVJ QH YJGGNEJCKT FWG VQ KPUVCNNCVKQP QH VJG TGCT DCUMGV OC[ TGUWNV KP KPLWT[ QT FCOCIG ದ 9JGP VWTPKPI VJG YJGGNEJCKT DG CYCTG QH [QWT UWTTQWPFKPIU CPF VJG KPETGCUGF NGPIVJ QH VJG YJGGNEJCKT QH WR VQ KPEJGU FWG VQ VJG TGCT DCUMGV 4GOQXG VJG GPF VWDG ECR $ QWV QH VJG CEEGUUQT[ VWDG % -GGR GPF VWDG ECR HQT HWVWTG WUG .
#EEGUUQTKGU 5GEWTGN[ VKIJVGP VJG OQWPVKPI MPQD VQ UGEWTG UWRRQTV VWDG KP RNCEG +PUVCNNKPI 4GOQXKPI VJG 1Z[IGP *QNFGT +PUVCNNKPI VJG 1Z[IGP *QNFGT 9#40+0) 4KUM QH +PLWT[ QT &COCIG +PETGCUGF NGPIVJ QH YJGGNEJCKT FWG VQ KPUVCNNCVKQP QH QZ[IGP JQNFGT OC[ TGUWNV KP KPLWT[ QT FCOCIG ದ 9JGP VWTPKPI VJG YJGGNEJCKT DG CYCTG QH [QWT UWTTQWPFKPIU CPF VJG KPETGCUGF NGPIVJ QH VJG YJGGNEJCKT QH WR VQ KPEJGU FWG VQ VJG QZ[IGP JQNFGT +PUVCNN TGCT DCUMGV ( QPVQ VJG VJTGG JQQMU ) QH UWRRQTV V
+PXCECTGs 2TQPVQs 4GOQXG VJG GPF VWDG ECR $ QWV QH VJG CEEGUUQT[ VWDG % -GGR GPF VWDG ECR HQT HWVWTG WUG .QQUGP DWV FQ PQV TGOQXG VJG OQWPVKPI MPQD & QP VJG CEEGUUQT[ VWDG +PUVCNN VJG QZ[IGP JQNFGT ' KPVQ VJG CEEGUUQT[ VWDG 5GEWTGN[ VKIJVGP VJG OQWPVKPI MPQD VQ QZ[IGP JQNFGT KP RNCEG 4GOQXG VJG QZ[IGP VCPM HTQO VJG JQNFGT .
6TQWDNGUJQQVKPI 6TQWDNGUJQQVKPI 9JGGNEJCKT 8GGTU .GHV QT 4KIJV 5NWIIKUJ 6WTP QT 2GT HQTOCPEG %CUVGTU (NWVVGT : : : %JGEM HQT NQQUG UVGO PWVU DQNVU DGCTKPIU QT UKIPU QH YGCT : %JGEM HQT WPGXGP VKTG YGCT DGPV HQTM HTCOG QT NQQUG JCTFYCTG : : : 5SWGCMU CPF 4CVVNGU .
+PXCECTGs 2TQPVQs #NN .'&U CTG QP .GHV VQ 4KIJV ŋEJCUGŌ #NN .'&U CTG HNCUJKPI 5.19.; 2QYGT KU QP $CVVGTKGU CTG EJCTIKPI 5[UVGO QRGTCVKPI EQTTGEVN[ +H VJGTG CTG HGYGT VJCP VJTGG .'&U NKV VJKU KPFKECVGU TGFWEGF DCVVGT[ EJCTIG $CVVGTKGU YKNN PGGF VQ DG EJCTIGF UQQP 6JG YJGGNEJCKT YKNN PQV QRGTCVG WPVKN VJG EJCTIGT KU FKUEQPPGEVGF 6JG RQYGT YKNN PGGF VQ DG VWTPGF QHH CPF VJGP DCEM QP CICKP %JCTIG DCVVGTKGU CU UQQP CU RQUUKDNG 5GTXKEG &KCIPQUVKEU .
6TQWDNGUJQQVKPI #` .'& (NCUJKPI 6JG NGHV OQVQT JCU C UJQTV EKTEWKV VQ C DCVVGT[ EQPPGEVKQP %QPVCEV [QWT FGCNGT QT +PXCECTG +H VJG /QVQT 5YCR RCTCOGVGT KU GPCDNGF VJGP VJG EQPPGEVKQPU VQ VJG TKIJV OQVQT YKNN PGGF VQ DG EJGEMGF KPUVGCF QH VJG NGHV OQVQT .'& (NCUJKPI 6JG TKIJV OQVQT JCU C DCF EQPPGEVKQP %JGEM VJG EQPPGEVKQPU VQ VJG TKIJV OQVQT +H VJG /QVQT 5YCR RCTCOGVGT KU GPCDNGF VJGP VJG EQPPGEVKQPU VQ VJG TKIJV OQVQT YKNN PGGF VQ DG EJGEMGF KPUVGCF QH VJG NGHV OQVQT .
+PXCECTGs 2TQPVQs .'& (NCUJKPI # EQPVTQN U[UVGO HCWNV KU KPFKECVGF /CMG UWTG VJCV CNN EQPPGEVKQPU CTG UGEWTG .'& (NCUJKPI 6JG RCTMKPI DTCMGU JCXG C DCF EQPPGEVKQP %JGEM VJG RCTMKPI DTCMG CPF OQVQT EQPPGEVKQPU /CMG UWTG VJG EQPVTQN U[UVGO EQPPGEVKQPU CTG UGEWTG .'& (NCUJKPI +PHQTOCVKQP )CWIG .'&U CPF 5RGGFQOGVGT .
6TQWDNGUJQQVKPI 7UCDKNKV[ 5WTXG[ 'XCNWCVG VJG 9CTPKPIU %CWVKQPU ;'5 01 #TG VJGTG CP[ YCTPKPIU ECWVKQPU VJCV [QW FQ PQV WPFGTUVCPF! #TG VJGTG VQQ OCP[ YCTPKPIU ECWVKQPU! #TG VJGTG YCTPKPIU ECWVKQPU VJCV [QW HGGN FQ PQV CRRN[ VQ VJKU RTQFWEV! 2NGCUG EQORNGVG VJG UWTXG[ DGNQY VQ GXCNWCVG VJKU OCPWCN ;QWT RCTVKEKRCVKQP KP VJG GXCNWCVKQP CUUKUVU KP VJG FGXGNQROGPV QH GHHGEVKXG CPF WUCDNG OCPWCNU HQT QWT EWUVQOGTU 6JG UWTXG[ KU CNUQ CXCKNCDNG QPNKPG JVVR YYY KPXCECTG EQO 6G
+PXCECTGs 2TQPVQs 'XCNWCVG VJG KNNWUVTCVKQPU ;'5 01 #TG VJG KNNWUVTCVKQPU WUGHWN! &Q VJG KNNWUVTCVKQPU PGGF OQTG QT NGUU FGVCKN! +U VJG PWODGT UK\G QH KNNWUVTCVKQPU CFGSWCVG! 'ZRNCKP AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA &Q [QW JCXG UWIIGUVKQPU HQT QVJGT YC[U QH OCMKPI VJKU FQEWOGPV GCUKGT VQ WUG! 'ZRNCKP ;'5 01 AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAA
0QVGU
0QVGU
75# 1PG +PXCECTG 9C[ 'N[TKC 1JKQ 75# ņ ņ ņ %CPCFC /CVJGUQP $NXF ' 7PKV /KUUKUUCWIC 1PVCTKQ . < ) %CPCFC ņ ņ YYY KPXCECTG EQO #` *1183412Aa07* /CMKPI .
