GLOBALSTAR May 2020 Dear Fellow Stockholders, As I write this letter, we are facing one of the greatest pandemics the world has ever known, one that is profoundly impacting the global economy and our everyday life. Through this crisis, our priority is supporting our employees, who have demonstrated resilience and resolve every day, and our customers, who rely on our products and services to successfully operate their businesses, track their most valuable assets and stay connected wherever life takes them. While we are navigating through many uncertainties, the leaders of Globalstar have focused on what we can control and what we do best, which is to provide reliable connectivity across the globe. Many individuals are looking for an outlet during this crisis and our SPOT products are there to provide safety. Many businesses are looking for new strategies to reduce recurring costs and our Commercial IoT products are there to provide dependable continuity and efficient data reporting. While the impact to Globalstar as of today has been manageable, the situation is highly fluid and uncertain, and we continue to monitor it carefully. We entered this crisis in a position of strength, particularly from a liquidity perspective. During 2019, we successfully refinanced our capital structure when we executed an amendment of our senior secured credit facility and raised a new second lien term loan facility led by Thermo and Echostar. This transaction significantly improved our balance sheet and provides us with extended runway, with our next scheduled principal payment due in June 2021. We also significantly improved our leverage ratio following the conversion of Thermo’s 2009 subordinated loan into common stock in early 2020. Our current capital structure positions us well to execute our plan for value creation from our spectrum and satellite assets. The 2019 financial performance of our satellite business shows that we continue to capitalize on IoT growth opportunities, with a 26% increase in Commercial IoT service revenue over 2018 driven by expansion in our subscriber count and higher ARPU. We have focused our product development efforts around Commercial IoT devices, particularly modules that can be integrated into the products of our partners, which are expected to broaden our current reach. These modules offer enhanced functionality in a very small form factor and at a competitive price point, which are particularly attractive to those needing data reporting capabilities in remote environments. Outside of Commercial IoT, 2019 was a transitional year in many respects with Adjusted EBITDA1 down 7% year-over-year. We believe we are back on the right track with the updates that we made to our consumer products based on the positive trajectory of subscriber additions following the release of SPOT X ® with Bluetooth® technology and the Sat-Fi2® Remote Antenna Station (RAS) late in the year. Turning to our terrestrial spectrum asset, we have made significant progress over the last several months by adding to our roster of ecosystem partners and advancing our international regulatory efforts. Most importantly, we also announced that the Third Generation Partnership Project (“3GPP”) approved the 5G variant of Globalstar’s Band 53, which is known as n53. Achieving 5G status with our band is a significant advancement in our spectrum efforts. New networks around the world will be built utilizing 5G’s advanced technology, and our band will now work in those networks. We are actively working on potential private LTE deployments with partners including Nokia, Airspan and Airwavz that can serve as the proving grounds for our commercial efforts and have the potential to produce meaningful revenue. We are driving the ecosystem to have more infrastructure and industrial devices working on Band 53 for the first deployments with our partners. This effort will allow them to meet their customers’ needs across industries including utilities, transportation systems, in-building wholesale networks, in- building and on-campus private LTE networks and mobile wireless services, among others.

1 See the reconciliation to GAAP net income (loss) following this letter. OTHER FINANCIAL AND OPERATIONAL HIGHLIGHTS

Value-Added Partnerships

 In April 2020, we announced a new licensing partnership with the JEEP brand. As part of an effort to expand its footprint in the overland adventure market, we are developing an exclusive new line of Jeep and SPOT co-branded products. This partnership is expected to drive consumer awareness of SPOT through cross-promotional opportunities while exploring new distribution channels. We expect to have these products available in our distribution channels starting in 2Q 2020. Jeep is one of the most recognized brands in off-roading, with enthusiasts who are often also passionate hikers and mountain climbers, all of whom would benefit by staying connected while off the grid.  In November 2019 we announced our partnership with Ceres Tag, a leader in livestock information systems, to use a proprietary smart ear tag. This partnership aims to improve efficiencies within the agriculture industry with benefits including livestock theft detection, better operational management for livestock location, improved provenance along the entire supply chain, improved detection and tracking for health and bio-security systems. Ceres Tag is conducting large scale trials in Australia in multiple environmental and climatic conditions to test and validate the operational proficiency of its complete livestock information platform. With no other infrastructure necessary on a ranch, this simple attach-and- go ear tag significantly reduces installation and maintenance efforts and provides great value to livestock farmers. With a cattle population in excess of 1.2 billion in the world, we believe there is great demand for a solution that will provide better communications to more effectively manage livestock operations.  In July 2019 we signed an agreement with Echo Ridge to collaborate, share data, and jointly pursue market opportunities for a new assured positioning, navigation, and timing (PNT) technology that can backup and/or complement GPS when GPS is unavailable or unreliable. This agreement includes joint assessment of commercial and government market requirements and use cases for an assured PNT service. The envisioned service responds to increasing user concerns about GPS vulnerability and the critical importance of accurate PNT information to support essential services and infrastructure.  In May 2019 we announced a strategic relationship with Recon Powerline allowing the company to use Globalstar's satellite and multi-radio modems to help address the growing issue of wildfire risk management. These products could help stop catastrophic wildfires before they start by providing firefighters with advanced warning, precise location and the ability to predict fire ignition factors on utility infrastructure. Product Evolution

 We are in the final stages of developing a miniature and inexpensive one-way Commercial IoT module that can be integrated into the products of our customers. The initial external feedback on this product has been very constructive, including from Howard Trott, CEO of Recon Powerline, who commented, “Globalstar’s new IoT board significantly expands the strength of our operational intelligence platform, helping customers gain critical insight needed to drive productivity and efficiency regardless of geography.” Use cases for this module include animal tracking and remote sensor reporting.  We are developing two-way Commercial IoT devices, including a module based on existing SPOT X® technology intended for: a) integration by resellers to enable customers to develop their own small bit data solutions, and b) upgrade of existing Globalstar devices to two-way functionality. The second phase of this development will enable a reduced form factor and lower product cost. We also intend to finalize a two-way version of our existing SmartOne Solar™ device in 2020. The SmartOne Solar™ is a solar- powered IoT asset tracking device (with ATEX and intrinsically safe certifications) that provides a low power and secure monitoring solution for a variety of security applications. In July 2019, we announced that we purchased a perpetual license to use the intellectual property developed for our SmartOne Solar™ device. This license allows us to continue to improve and enhance this product to address specific customer use cases, whether those efforts are around adding Bluetooth® technology or enabling two-way functionality. Customer-Focused Initiatives

 Various projects were completed or advanced during 2019 that centered around improving our customers’ experience with Globalstar products and services. Among other initiatives, we are improving our partner websites, enhancing our SPOT My Account platform, refining our worldwide Globalstar websites, upgrading our customer service phone system, improving SPOT mapping functionality and migrating to a new billing system. If you are a current Globalstar customer, you can expect these improvements to fundamentally enhance your experience.  We introduced lower service pricing plans for all new SPOT customers. We have traditionally offered the lowest service rates among our satellite industry peers, and these new pricing plans maintain our stronghold in this area.  In response to extensive customer feedback, we now offer flexible service pricing for new SPOT customers. These plans allow for maximum flexibility and usage behavior based on individual needs. Spectrum Licensing and Ecosystem Development

 Globalstar and Nokia have developed an innovative solution addressing the need for high capacity, low latency and secure connectivity. This solution allows enterprises to deploy intelligent network applications in a dedicated spectrum band and is based on Nokia’s industrial-grade private wireless Digital Automation Cloud platform together with Globalstar’s 3GPP Band 53 spectrum. Nokia is already offering Band 53 access points and User End Devices (UED’s) such as modems, ruggedized handsets and tablets. As the partnership evolves, Globalstar and Nokia anticipate the expansion of their commercial relationship to create new opportunities for business. As we continue to pursue harmonization in Band 53 around the globe, customers will be able to deploy a device ecosystem that operates seamlessly across locations.  We have received several MSS and terrestrial authorizations across Africa, covering a population in excess of 100 million, over 1.4 million square miles of territory, annual GDP of nearly a half a trillion USD and more than 1.7 billion MHz-POPs of licensed coverage. Africa is a rich market for our terrestrial and satellite services, and Globalstar is committed to bringing its unique mix of solutions to the continent to meet the communications needs of the next generation of African businesses and consumers. Satellite and terrestrial-based industrial IoT solutions will be critical to facilitating enhanced communications and data solutions in regions that have not previously had reliable wireless and wireline communications. We are also making substantial progress in other major countries within the Americas and expect these authorizations to dramatically expand our terrestrial footprint. 2020 OUTLOOK Our board and management team share the same vision to grow profitability, and it generally centers around utilization of the Company’s excess satellite and spectrum capacity. While we know that the impact of COVID- 19 is unpredictable and may impede growth in the short term, particularly as it relates to our retail customers and those that operate in the oil and gas industry, we continue to forge ahead on our key initiatives. Our spectrum strategy has been consistent, and we will continue to work to increase the marketability of the spectrum through both international regulatory successes and ecosystem development. In 2019, we demonstrated progress through various initiatives that advance this vision and look to continue this progress towards evolving into a leading provider of IoT connectivity and executing on various private LTE opportunities. Among others, the essential components to our overall strategy include leveraging our partnership network, growing our product offerings and cultivating our terrestrial spectrum asset. These focus areas are a clear extension of our 2019 highlights. In summary, we faced many challenges and achieved many accomplishments during 2019. Overall, we made progress towards our long-term goals and meaningfully enhanced the value of our terrestrial spectrum asset and MSS business. The tagline on our website’s corporate landing page states that Globalstar is “infinitely dedicated to connecting people worldwide.” Our spectrum and satellites assets uniquely position us to provide a range of solutions to our customers in building a connected world, and I have never been more optimistic about our ability to successfully monetize these opportunities. Sincerely,

James Monroe III Executive Chairman Globalstar, Inc. GLOBALSTAR, INC. RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP ADJUSTED EBITDA (In thousands) (unaudited)

Year Ended December 31, 2019 2018

Net income (loss) $15,324 $ (6,516)

Interest income and expense, net 62,464 43,612 Derivative gain (145,073) (81,120) Income tax expense 545 125 Depreciation, amortization and accretion 95,772 90,438 EBITDA 29,032 46,539

Reduction in the value of inventory 416 - Reduction in the value of long-lived assets 1,124 - Non-cash compensation 6,162 7,373 Foreign exchange and other 690 3,067 Debt refinancing third party fees 5,232 - Non-cash adjustment to international operations 927 - Merger and shareholder litigation costs (recovery) (1,820) 10,831 Gain on legal settlement (120) (6,779) Revision to contract termination charge - (20,478) Change to estimated impact upon adoption of ASC 606 (3,885) - Adjusted EBITDA (1) $37,758 $ 40,553

(1) EBITDA represents earnings before interest, income taxes, depreciation, amortization, accretion and derivative (gains)/losses. Adjusted EBITDA excludes non-cash compensation expense, reduction in the value of assets, foreign exchange (gains)/losses, and certain other non-recurring charges as applicable. Management uses Adjusted EBITDA in order to manage the Company's business and to compare its results more closely to the results of its peers. EBITDA and Adjusted EBITDA do not represent and should not be considered as alternatives to GAAP measurements, such as net income/(loss). These terms, as defined by us, may not be comparable to similarly titled measures used by other companies.

The Company uses Adjusted EBITDA as a supplemental measurement of its operating performance. The Company believes it best reflects changes across time in the Company's performance, including the effects of pricing, cost control and other operational decisions. The Company's management uses Adjusted EBITDA for planning purposes, including the preparation of its annual operating budget. The Company believes that Adjusted EBITDA also is useful to investors because it is frequently used by securities analysts, investors and other interested parties in their evaluation of companies in similar industries. As indicated, Adjusted EBITDA does not include interest expense on borrowed money or depreciation expense on our capital assets or the payment of income taxes, which are necessary elements of the Company's operations. Because Adjusted EBITDA does not account for these expenses, its utility as a measure of the Company's operating performance has material limitations. Because of these limitations, the Company's management does not view Adjusted EBITDA in isolation and also uses other measurements, such as revenues and operating profit, to measure operating performance. [This page intentionally left blank] UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2019 OR □ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition Period from to Commission File Number 001-33117 GLOBALSTAR, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 41-2116508 (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification No.) 1351 Holiday Square Blvd. Covington, Louisiana 70433 (Address of Principal Executive Offices) Registrant’s Telephone Number, Including Area Code (985) 335-1500 Securities registered pursuant to section 12(b) of the Act: Name of exchange on Title of each class Trading Symbol which registered Common Stock, par value GSAT NYSE American $0.0001 per share Securities registered pursuant to section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer as defined in Rule 405 of the Securities Act. Yes □ No ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes □ No ☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No □ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No □ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of ‘‘large accelerated filer,’’ ‘‘accelerated filer,’’ ‘‘smaller reporting company,’’ and ‘‘emerging growth company’’ in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer □ Accelerated filer ☒ Non-accelerated filer □ Smaller reporting company □ Emerging growth company □ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.□ Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act) Yes □ No ☒ The aggregate market value of the registrant’s common stock held by non-affiliates at June 30, 2019, the last business day of the registrant’s most recently completed second fiscal quarter, was approximately $292.3 million. As of February 21, 2020, 1,665,377,204 shares of voting common stock were outstanding, and no shares of nonvoting common stock were authorized or outstanding. Unless the context otherwise requires, references to common stock in this Report mean registrant’s voting common stock. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Proxy Statement for the 2020 Annual Meeting of Stockholders are incorporated by reference in Part III of this Report. [This page intentionally left blank] '03.
,

'PS
UIF
'JTDBM
:FBS
&OEFE
%FDFNCFS



5"#-&
0'
$0/5&/54

1BHF 1"35
* *UFN
 #VTJOFTT  *UFN
" 3JTL
'BDUPST  *UFN
# 6OSFTPMWFE
4UBGG
$PNNFOUT  *UFN
 1SPQFSUJFT  *UFN
 -FHBM
1SPDFFEJOHT  *UFN
 .JOF
4BGFUZ
%JTDMPTVSFT  1"35
** *UFN
 .BSLFU
GPS
3FHJTUSBOUT
$PNNPO
&RVJUZ
3FMBUFE
4UPDLIPMEFS
.BUUFST
BOE
*TTVFS
1VSDIBTFT
PG
&RVJUZ 4FDVSJUJFT  *UFN
 4FMFDUFE
'JOBODJBM
%BUB  *UFN
 .BOBHFNFOUT
%JTDVTTJPO
BOE
"OBMZTJT
PG
'JOBODJBM
$POEJUJPO
BOE
3FTVMUT
PG
0QFSBUJPOT  *UFN
" 2VBOUJUBUJWF
BOE
2VBMJUBUJWF
%JTDMPTVSFT
"CPVU
.BSLFU
3JTL  *UFN
 'JOBODJBM
4UBUFNFOUT
BOE
4VQQMFNFOUBSZ
%BUB  *UFN
 $IBOHFT
JO
BOE
%JTBHSFFNFOUT
XJUI
"DDPVOUBOUT
PO
"DDPVOUJOH
BOE
'JOBODJBM
%JTDMPTVSF  *UFN
" $POUSPMT
BOE
1SPDFEVSFT  *UFN
# 0UIFS
*OGPSNBUJPO  1"35
*** *UFN
 %JSFDUPST
&YFDVUJWF
0GGJDFST
BOE
$PSQPSBUF
(PWFSOBODF  *UFN
 &YFDVUJWF
$PNQFOTBUJPO  *UFN
 4FDVSJUZ
0XOFSTIJQ
PG
$FSUBJO
#FOFGJDJBM
0XOFST
BOE
.BOBHFNFOU
BOE
3FMBUFE
4UPDLIPMEFS
.BUUFST  *UFN
 $FSUBJO
3FMBUJPOTIJQT
BOE
3FMBUFE
5SBOTBDUJPOT
BOE
%JSFDUPS
*OEFQFOEFODF  *UFN
 1SJODJQBM
"DDPVOUJOH
'FFT
BOE
4FSWJDFT  1"35
*7 *UFN
 &YIJCJUT
'JOBODJBM
4UBUFNFOU
4DIFEVMFT  *UFN
 'PSN
,
4VNNBSZ  4JHOBUVSFT  [This page intentionally left blank] 1"35
*
'PSXBSE-PPLJOH
4UBUFNFOUT

$FSUBJO
TUBUFNFOUT
DPOUBJOFE
JO
PS
JODPSQPSBUFE
CZ
SFGFSFODF
JOUP
UIJT
"OOVBM
3FQPSU
PO
'PSN
,
UIF
3FQPSU
PUIFS
UIBO QVSFMZ
IJTUPSJDBM
JOGPSNBUJPO
JODMVEJOH
CVU
OPU
MJNJUFE
UP
FTUJNBUFT
QSPKFDUJPOT
TUBUFNFOUT
SFMBUJOH
UP
PVS
CVTJOFTT
QMBOT PCKFDUJWFT
BOE
FYQFDUFE
PQFSBUJOH
SFTVMUT
BOE
UIF
BTTVNQUJPOT
VQPO
XIJDI
UIPTF
TUBUFNFOUT
BSF
CBTFE
BSF
GPSXBSEMPPLJOH TUBUFNFOUT
XJUIJO
UIF
NFBOJOH
PG
UIF
1SJWBUF
4FDVSJUJFT
-JUJHBUJPO
3FGPSN
"DU
PG

5IFTF
GPSXBSEMPPLJOH
TUBUFNFOUT
HFOFSBMMZ BSF
JEFOUJGJFE
CZ
UIF
XPSET
CFMJFWF 
QSPKFDU 
FYQFDU 
BOUJDJQBUF 
FTUJNBUF 
JOUFOE 
TUSBUFHZ 
QMBO 
NBZ 
TIPVME  XJMM 
XPVME 
XJMM
CF 
XJMM
DPOUJOVF 
XJMM
MJLFMZ
SFTVMU 
BOE
TJNJMBS
FYQSFTTJPOT
BMUIPVHI
OPU
BMM
GPSXBSEMPPLJOH
TUBUFNFOUT DPOUBJO
UIFTF
JEFOUJGZJOH
XPSET
5IFTF
GPSXBSEMPPLJOH
TUBUFNFOUT
BSF
CBTFE
PO
DVSSFOU
FYQFDUBUJPOT
BOE
BTTVNQUJPOT
UIBU
BSF TVCKFDU
UP
SJTLT
BOE
VODFSUBJOUJFT
XIJDI
NBZ
DBVTF
BDUVBM
SFTVMUT
UP
EJGGFS
NBUFSJBMMZ
GSPN
UIF
GPSXBSEMPPLJOH
TUBUFNFOUT
'PSXBSE MPPLJOH
TUBUFNFOUT
TVDI
BT
UIF
TUBUFNFOUT
SFHBSEJOH
PVS
BCJMJUZ
UP
EFWFMPQ
BOE
FYQBOE
PVS
CVTJOFTT
JODMVEJOH
PVS
BCJMJUZ
UP NPOFUJ[F
PVS
TQFDUSVN
SJHIUT
PVS
BOUJDJQBUFE
DBQJUBM
TQFOEJOH
PVS
BCJMJUZ
UP
NBOBHF
DPTUT
PVS
BCJMJUZ
UP
FYQMPJU
BOE
SFTQPOE
UP UFDIOPMPHJDBM
JOOPWBUJPO
UIF
FGGFDUT
PG
MBXT
BOE
SFHVMBUJPOT
JODMVEJOH
UBY
MBXT
BOE
SFHVMBUJPOT
BOE
MFHBM
BOE
SFHVMBUPSZ
DIBOHFT JODMVEJOH
SFHVMBUJPO
SFMBUFE
UP
UIF
VTF
PG
PVS
TQFDUSVN
UIF
PQQPSUVOJUJFT
GPS
TUSBUFHJD
CVTJOFTT
DPNCJOBUJPOT
BOE
UIF
FGGFDUT
PG DPOTPMJEBUJPO
JO
PVS
JOEVTUSZ
PO
VT
BOE
PVS
DPNQFUJUPST
PVS
BOUJDJQBUFE
GVUVSF
SFWFOVFT
PVS
BOUJDJQBUFE
GJOBODJBM
SFTPVSDFT
PVS FYQFDUBUJPOT
BCPVU
UIF
GVUVSF
PQFSBUJPOBM
QFSGPSNBODF
PG
PVS
TBUFMMJUFT
JODMVEJOH
UIFJS
QSPKFDUFE
PQFSBUJPOBM
MJWFT
UIF
FYQFDUFE TUSFOHUI
PG
BOE
HSPXUI
QSPTQFDUT
GPS
PVS
FYJTUJOH
DVTUPNFST
BOE
UIF
NBSLFUT
UIBU
XF
TFSWF
DPNNFSDJBM
BDDFQUBODF
PG
OFX
QSPEVDUT QSPCMFNT
SFMBUJOH
UP
UIF
HSPVOECBTFE
GBDJMJUJFT
PQFSBUFE
CZ
VT
PS
CZ
JOEFQFOEFOU
HBUFXBZ
PQFSBUPST
XPSMEXJEF
FDPOPNJD HFPQPMJUJDBM
BOE
CVTJOFTT
DPOEJUJPOT
BOE
SJTLT
BTTPDJBUFE
XJUI
EPJOH
CVTJOFTT
PO
B
HMPCBM
CBTJT
BOE
PUIFS
TUBUFNFOUT
DPOUBJOFE
JO UIJT
3FQPSU
SFHBSEJOH
NBUUFST
UIBU
BSF
OPU
IJTUPSJDBM
GBDUT
JOWPMWF
QSFEJDUJPOT
3JTLT
BOE
VODFSUBJOUJFT
UIBU
DPVME
DBVTF
PS
DPOUSJCVUF UP
TVDI
EJGGFSFODFT
JODMVEF
XJUIPVU
MJNJUBUJPO
UIPTF
JO
*UFN
"
3JTL
'BDUPST
PG
UIJT
3FQPSU
8F
EP
OPU
JOUFOE
BOE
VOEFSUBLF
OP PCMJHBUJPO
UP
VQEBUF
BOZ
PG
PVS
GPSXBSEMPPLJOH
TUBUFNFOUT
BGUFS
UIF
EBUF
PG
UIJT
3FQPSU
UP
SFGMFDU
BDUVBM
SFTVMUT
PS
GVUVSF
FWFOUT PS
DJSDVNTUBODFT

*UFN

#VTJOFTT
.PCJMF
4BUFMMJUF
4FSWJDFT
#VTJOFTT

(MPCBMTUBS
*OD
aXF b
aVTb
PS
UIF
a$PNQBOZb
QSPWJEFT
.PCJMF
4BUFMMJUF
4FSWJDFT
a.44b
JODMVEJOH
WPJDF
BOE
EBUB DPNNVOJDBUJPOT
TFSWJDFT
HMPCBMMZ
WJB
TBUFMMJUF
8F
PGGFS
UIFTF
TFSWJDFT
PWFS
PVS
OFUXPSL
PG
JOPSCJU
TBUFMMJUFT
BOE
PVS
BDUJWF
HSPVOE TUBUJPOT
aHBUFXBZTb
XIJDI
XF
SFGFS
UP
DPMMFDUJWFMZ
BT
UIF
(MPCBMTUBS
4ZTUFN
*O
BEEJUJPO
UP
TVQQPSUJOH
*OUFSOFU
PG
5IJOHT
*P5 EBUB
USBOTNJTTJPOT
JO
B
WBSJFUZ
PG
BQQMJDBUJPOT
XF
QSPWJEF
SFMJBCMF
DPOOFDUJWJUZ
JO
BSFBT
OPU
TFSWFE
PS
VOEFSTFSWFE
CZ
UFSSFTUSJBM XJSFMFTT
BOE
XJSFMJOF
OFUXPSLT
BOE
JO
DJSDVNTUBODFT
XIFSF
UFSSFTUSJBM
OFUXPSLT
BSF
OPU
PQFSBUJPOBM
EVF
UP
OBUVSBM
PS
NBONBEF EJTBTUFST
#Z
QSPWJEJOH
XJSFMFTT
DPNNVOJDBUJPOT
TFSWJDFT
BDSPTT
UIF
HMPCF
XF
NFFU
PVS
DVTUPNFST
JODSFBTJOH
EFTJSF
GPS DPOOFDUJWJUZ

4BUFMMJUF
/FUXPSL
0VS
DPOTUFMMBUJPO
PG
-PX
&BSUI
0SCJU
-&0
TBUFMMJUFT
JODMVEFT
TFDPOEHFOFSBUJPO
TBUFMMJUFT
XIJDI
XFSF
MBVODIFE
BOE
QMBDFE JOUP
TFSWJDF
EVSJOH
UIF
ZFBST

UISPVHI

BGUFS
B

CJMMJPO
JOWFTUNFOU
BOE
DFSUBJO
GJSTUHFOFSBUJPO
TBUFMMJUFT
XIJDI
BSF DVSSFOUMZ
CFJOH
VTFE
BT
JOPSCJU
TQBSFT
8F
EFTJHOFE
PVS
TFDPOEHFOFSBUJPO
TBUFMMJUFT
UP
MBTU
UXJDF
BT
MPOH
JO
TQBDF
IBWF
 HSFBUFS
DBQBDJUZ
BOE
CF
CVJMU
BU
B
TJHOJGJDBOUMZ
MPXFS
DPTU
DPNQBSFE
UP
PVS
GJSTUHFOFSBUJPO
TBUFMMJUFT
8F
BDIJFWFE
UIJT
MPOHFS
MJGF CZ
JODSFBTJOH
UIF
TPMBS
BSSBZ
BOE
CBUUFSZ
DBQBDJUZ
VTJOH
B
MBSHFS
GVFM
UBOL
BEEJOH
SFEVOEBODZ
GPS
LFZ
TBUFMMJUF
FRVJQNFOU
BOE JNQSPWJOH
SBEJBUJPO
TQFDJGJDBUJPOT
BOE
BEEJUJPOBM
MPU
MFWFM
UFTUJOH
GPS
BMM
TVTDFQUJCMF
FMFDUSPOJD
DPNQPOFOUT
JO
PSEFS
UP
BDDPVOU GPS
UIF
BDDVNVMBUFE
EPTBHF
PG
SBEJBUJPO
FODPVOUFSFE
EVSJOH
B
ZFBS
NJTTJPO
BU
UIF
PQFSBUJPOBM
BMUJUVEF
PG
UIF
TBUFMMJUFT
5IF TFDPOEHFOFSBUJPO
TBUFMMJUFT
VTF
QBTTJWF
4CBOE
BOUFOOBT
PO
UIF
CPEZ
PG
UIF
TQBDFDSBGU
QSPWJEJOH
BEEJUJPOBM
TIJFMEJOH
GPS
UIF
BDUJWF BNQMJGJFST
XIJDI
BSF
MPDBUFE
JOTJEF
UIF
TQBDFDSBGU
VOMJLF
UIF
GJSTUHFOFSBUJPO
BNQMJGJFST
UIBU
XFSF
MPDBUFE
PO
UIF
PVUTJEF
BT
QBSU PG
UIF
BDUJWF
BOUFOOB
BSSBZ
&BDI
TBUFMMJUF
IBT
B
IJHI
EFHSFF
PG
POCPBSE
TVCTZTUFN
SFEVOEBODZ
BO
POCPBSE
GBVMU
EFUFDUJPO
TZTUFN BOE
JTPMBUJPO
BOE
SFDPWFSZ
GPS
TBGF
BOE
RVJDL
SJTL
NJUJHBUJPO

 8F
CFMJFWF
UIBU
XF
QSPWJEF
UIF
CFTU
WPJDF
RVBMJUZ
BNPVOU
PVS
QFFS
HSPVQ
XIJDI
JT
CBDLFE
CZ
DVTUPNFS
JOQVU
EVF
UP
UIF TQFDJGJD
EFTJHO
PG
UIF
(MPCBMTUBS
4ZTUFN
8F
EFGJOF
B
TVDDFTTGVM
MFWFM
PG
TFSWJDF
GPS
PVS
DVTUPNFST
CZ
UIFJS
BCJMJUZ
UP
NBLF VOJOUFSSVQUFE
DBMMT
PG
BWFSBHF
EVSBUJPO
GPS
B
TZTUFNXJEF
BWFSBHF
OVNCFS
PG
NJOVUFT
QFS
NPOUI
0VS
HPBM
JT
UP
QSPWJEF
TFSWJDF MFWFMT
BOE
DBMM
PS
NFTTBHF
TVDDFTT
SBUFT
FRVBM
UP
PS
CFUUFS
UIBO
PVS
.44
DPNQFUJUPST
TP
PVS
QSPEVDUT
BOE
TFSWJDFT
BSF
BUUSBDUJWF
UP QPUFOUJBM
DVTUPNFST
8F
EFGJOF
WPJDF
RVBMJUZ
BT
UIF
BCJMJUZ
UP
FBTJMZ
IFBS
SFDPHOJ[F
BOE
VOEFSTUBOE
DBMMFST
XJUI
JNQFSDFQUJCMF EFMBZ
JO
UIF
USBOTNJTTJPO
#Z
UIJT
NFBTVSF
XF
CFMJFWF
UIBU
PVS
TZTUFN
PVUQFSGPSNT
HFPTUBUJPOBSZ
a(&0b
TBUFMMJUFT
VTFE
CZ
TPNF PG
PVS
DPNQFUJUPST
(&0
TBUFMMJUF
TJHOBMT
NVTU
USBWFM
BQQSPYJNBUFMZ
 
BEEJUJPOBM
NJMFT
PO
BWFSBHF
XIJDI
JOUSPEVDFT DPOTJEFSBCMF
EFMBZ
BOE
TJHOBM
EFHSBEBUJPO
UP
(&0
DBMMT
'PS
PVS
DPNQFUJUPST
VTJOH
DSPTTMJOLFE
TBUFMMJUF
BSDIJUFDUVSFT
XIJDI SFRVJSF
NVMUJQMF
JOUFSTBUFMMJUF
DPOOFDUJPOT
UP
DPNQMFUF
B
DBMM
TJHOBM
EFHSBEBUJPO
BOE
EFMBZ
DBO
SFTVMU
JO
MPXFS
DBMM
RVBMJUZ
BT DPNQBSFE
UP
UIBU
FYQFSJFODFE
PWFS
UIF
(MPCBMTUBS
4ZTUFN

8F
EFTJHOFE
PVS
TFDPOEHFOFSBUJPO
HSPVOE
OFUXPSL
UP
QSPWJEF
PVS
DVTUPNFST
XJUI
FOIBODFE
TFSWJDFT
GFBUVSJOH
TQFFET
VQ
UP 
LCQT
BT
XFMM
BT
JODSFBTFE
DBQBDJUZ
XIFO
DPNCJOFE
XJUI
PVS
OFYUHFOFSBUJPO
QSPEVDUT
5IF
TFDPOEHFOFSBUJPO
HSPVOE
OFUXPSL JT
BO
*OUFSOFU
QSPUPDPM
NVMUJNFEJB
TVCTZTUFN
*.4
CBTFE
TPMVUJPO
QSPWJEJOH
TVDI
JOEVTUSZ
TUBOEBSE
TFSWJDFT
BT
WPJDF
JOUFSOFU FNBJM
BOE
TIPSU
NFTTBHF
TFSWJDFT
4.4 

(SPVOE
/FUXPSL

0VS
TBUFMMJUFT
DPNNVOJDBUF
XJUI
B
OFUXPSL
PG

HBUFXBZT
FBDI
PG
XIJDI
TFSWFT
BO
BSFB
PG
BQQSPYJNBUFMZ
 
UP
   TRVBSF
NJMFT
8F
IBWF
EFTJHOFE
UIF
QMBOFT
JO
XIJDI
PVS
TBUFMMJUFT
PSCJU
TP
UIBU
VTVBMMZ
BU
MFBTU
POF
TBUFMMJUF
JT
WJTJCMF
GSPN
BOZ QPJOU
PO
UIF
&BSUIT
TVSGBDF
CFUXFFO
UIF
MBUJUVEFT
c
OPSUI
BOE
c
TPVUI
"
HBUFXBZ
NVTU
CF
XJUIJO
MJOFPGTJHIU
PG
B
TBUFMMJUF BOE
UIF
TBUFMMJUF
NVTU
CF
XJUIJO
MJOFPGTJHIU
PG
UIF
TVCTDSJCFS
UP
QSPWJEF
TFSWJDFT
8F
IBWF
QPTJUJPOFE
PVS
HBUFXBZT
UP
QSPWJEF DPWFSBHF
GPS
NPTU
PG
UIF
&BSUIT
MBOE
BOE
IVNBO
QPQVMBUJPO
8F
PXO

PG
UIFTF
HBUFXBZT
BOE
UIF
SFTU
BSF
PXOFE
CZ
JOEFQFOEFOU HBUFXBZ
PQFSBUPST
*(0T 
8F
PXO
BOE
PQFSBUF
HBUFXBZT
JO
UIF
6OJUFE
4UBUFT
$BOBEB
7FOF[VFMB
"SHFOUJOB
1VFSUP
3JDP 'SBODF
#SB[JM
4JOHBQPSF
BOE
#PUTXBOB

&BDI
PG
PVS
HBUFXBZT
IBT
NVMUJQMF
BOUFOOBT
UIBU
DPNNVOJDBUF
XJUI
PVS
TBUFMMJUFT
BOE
QBTT
DBMMT
TFBNMFTTMZ
CFUXFFO
BOUFOOB CFBNT
BOE
TBUFMMJUFT
BT
UIF
TBUFMMJUFT
USBWFSTF
UIF
HBUFXBZT
UIFSFCZ
SFGMFDUJOH
UIF
TJHOBMT
GSPN
PVS
VTFST
UFSNJOBMT
UP
PVS
HBUFXBZT 0ODF
B
TBUFMMJUF
BDRVJSFT
B
TJHOBM
GSPN
BO
FOEVTFS
UIF
(MPCBMTUBS
4ZTUFN
BVUIFOUJDBUFT
UIF
VTFS
BOE
FTUBCMJTIFT
UIF
WPJDF
PS
EBUB DIBOOFM
UP
DPNQMFUF
UIF
DBMM
UP
UIF
QVCMJD
TXJUDIFE
UFMFQIPOF
OFUXPSL
a145/b
B
DFMMVMBS
PS
BOPUIFS
XJSFMFTT
OFUXPSL
PS
UIF JOUFSOFU
GPS
B
EBUB
DBMM
JODMVEJOH
$PNNFSDJBM
*P5 

8F
CFMJFWF
UIBU
PVS
UFSSFTUSJBM
HBUFXBZT
QSPWJEF
B
OVNCFS
PG
BEWBOUBHFT
PWFS
UIF
JOPSCJU
TXJUDIJOH
VTFE
CZ
PVS
NBJO
DPNQFUJUPS JODMVEJOH
CFUUFS
DBMM
RVBMJUZ
SFEVDFE
DBMM
MBUFODZ
BOE
DPOWFOJFOU
MPDBMJ[FE
QIPOF
OVNCFST
GPS
JOCPVOE
BOE
PVUCPVOE
DBMMJOH
8F BMTP
CFMJFWF
UIBU
PVS
OFUXPSLT
EFTJHO
FOBCMFT
GBTUFS
BOE
NPSF
DPTUFGGFDUJWF
TZTUFN
NBJOUFOBODF
BOE
VQHSBEFT
CFDBVTF
UIF
TZTUFNT TPGUXBSF
BOE
NVDI
PG
JUT
IBSEXBSF
BSF
MPDBUFE
PO
UIF
HSPVOE
0VS
NVMUJQMF
HBUFXBZT
BMMPX
VT
UP
SFDPOGJHVSF
PVS
TZTUFN
RVJDLMZ UP
FYUFOE
BOPUIFS
HBUFXBZT
DPWFSBHF
UP
NBLF
VQ
GPS
MPTU
DPWFSBHF
GSPN
B
EJTBCMFE
HBUFXBZ
PS
UP
IBOEMF
JODSFBTFE
DBMM
DBQBDJUZ SFTVMUJOH
GSPN
TVSHFT
JO
EFNBOE

0VS
HSPVOE
OFUXPSL
JODMVEFT
CPUI
PVS
GJSTUHFOFSBUJPO
BOE
TFDPOEHFOFSBUJPO
HSPVOE
FRVJQNFOU
#PUI
PVS
GJSTUHFOFSBUJPO BOE
TFDPOEHFOFSBUJPO
HSPVOE
OFUXPSL
VTF
2VBMDPNNT
QBUFOUFE
$%."
UFDIOPMPHZ
UP
QFSNJU
DPNNVOJDBUJPO
UP
NVMUJQMF TBUFMMJUFT
1BUFOUFE
SFDFJWFST
JO
PVS
IBOETFUT
USBDL
UIF
QJMPU
DIBOOFM
BOE
TJHOBMJOH
DIBOOFM
BT
XFMM
BT
UISFF
BEEJUJPOBM
DPNNVOJDBUJPOT DIBOOFMT
TJNVMUBOFPVTMZ
$PNQBSFE
UP
PUIFS
TBUFMMJUF
BOE
OFUXPSL
BSDIJUFDUVSFT
XF
PGGFS
TVQFSJPS
DBMM
DMBSJUZ
XJUI
WJSUVBMMZ
OP EJTDFSOJCMF
EFMBZ
0VS
TZTUFN
BSDIJUFDUVSF
QSPWJEFT
GVMM
GSFRVFODZ
SFVTF
5IJT
NBYJNJ[FT
TBUFMMJUF
EJWFSTJUZ
XIJDI
NBYJNJ[FT RVBMJUZ
BOE
OFUXPSL
DBQBDJUZ
BT
XF
DBO
SFVTF
UIF
BTTJHOFE
TQFDUSVN
JO
FWFSZ
TBUFMMJUF
CFBN
JO
FWFSZ
TBUFMMJUF
*O
BEEJUJPO
XF
IBWF EFWFMPQFE
B
OPO2VBMDPNN
QSPQSJFUBSZ
UFDIOPMPHZ
GPS
PVS
4105
BOE
$PNNFSDJBM
*P5
TFSWJDFT

0VS
TFDPOEHFOFSBUJPO
HSPVOE
OFUXPSL
XBT
EFWFMPQFE
JO
QBSUOFSTIJQ
XJUI
)VHIFT
/FUXPSL
4ZTUFNT
--$
)VHIFT
BOE &SJDTTPO
*OD
&SJDTTPO 
)VHIFT
EFTJHOFE
TVQQMJFE
BOE
JNQMFNFOUFE
UIF
3BEJP
"DDFTT
/FUXPSL
3"/
OFUXPSL
FRVJQNFOU BOE
TPGUXBSF
VQHSBEFT
GPS
JOTUBMMBUJPO
BU
B
OVNCFS
PG
PVS
HBUFXBZT
)VHIFT
BMTP
QSPWJEFE
UIF
TBUFMMJUF
JOUFSGBDF
DIJQT
UP
CF
VTFE JO
PVS
WBSJPVT
TFDPOEHFOFSBUJPO
EFWJDFT
&SJDTTPO
EFWFMPQFE
JNQMFNFOUFE
BOE
JOTUBMMFE
PVS
HSPVOE
JOUFSGBDF
PS
DPSF
OFUXPSL TZTUFN
BU
PVS
HBUFXBZT
5IF
TFDPOEHFOFSBUJPO
&SJDTTPO
DPSF
MJOLT
PVS
)VHIFT
3"/T
UP
UIF
145/
DFMMVMBS
OFUXPSLT
BOE
*OUFSOFU 8F
IBWF
BEEJUJPOBM
TFDPOEHFOFSBUJPO
3"/T
UIBU
BSF
OPU
ZFU
EFQMPZFE
8F
XJMM
TFMFDU
MPDBUJPOT
GPS
GVSUIFS
EFQMPZNFOU
CBTFE
PO DPWFSBHF
PQUJNJ[BUJPO
XIJDI
NBZ
JODMVEF
BEEJUJPOBM
HBUFXBZ
BDRVJTJUJPOT

 $PNNVOJDBUJPOT
1SPEVDUT
BOE
4FSWJDFT

8F
DVSSFOUMZ
QSPWJEF
UIF
GPMMPXJOH
DPNNVOJDBUJPOT
TFSWJDFT
XIJDI
BSF
BWBJMBCMF
POMZ
XJUI
FRVJQNFOU
EFTJHOFE
UP
XPSL
PO PVS
OFUXPSL

d UXPXBZ
WPJDF
DPNNVOJDBUJPO
BOE
EBUB
USBOTNJTTJPOT
VTJOH
NPCJMF
PS
GJYFE
EFWJDFT
JODMVEJOH
PVS
(41
QIPOF UXP
HFOFSBUJPOT
PG
PVS
4BU'J
e
UIF
4BU'J
e
3FNPUF
"OUFOOB
4UBUJPO
BOE
PUIFS
GJYFE
BOE
EBUBPOMZ
EFWJDFT
%VQMFY  d POFXBZ
PS
UXPXBZ
DPNNVOJDBUJPO
BOE
EBUB
USBOTNJTTJPOT
VTJOH
NPCJMF
EFWJDFT
JODMVEJOH
PVS
4105
GBNJMZ
PG
QSPEVDUT TVDI
BT
4105
9
e
4105
(FOe
BOE
4105
5SBDFe
UIBU
USBOTNJU
NFTTBHFT
BOE
UIF
MPDBUJPO
PG
UIF
EFWJDF
4105 
BOE d POFXBZ
EBUB
USBOTNJTTJPOT
VTJOH
B
NPCJMF
PS
GJYFE
EFWJDF
UIBU
USBOTNJUT
JUT
MPDBUJPO
BOE
PUIFS
JOGPSNBUJPO
UP
B
DFOUSBM NPOJUPSJOH
TUBUJPO
JODMVEJOH
PVS
DPNNFSDJBM
*P5
QSPEVDUT
TVDI
BT
PVS
CBUUFSZ
BOE
TPMBSQPXFSFE
4NBSU0OF
459 BOE
45*/(3
$PNNFSDJBM
*P5 
8F
DPNQFUF
BHHSFTTJWFMZ
PO
QSJDF
8F
PGGFS
B
SBOHF
PG
QSJDFDPNQFUJUJWF
QSPEVDUT
UP
UIF
JOEVTUSJBM
HPWFSONFOUBM
BOE
DPOTVNFS NBSLFUT
8F
FYQFDU
UP
SFUBJO
PVS
QPTJUJPO
BT
B
DPTUFGGFDUJWF
IJHIRVBMJUZ
MFBEFS
JO
UIF
.44
JOEVTUSZ

"T
UFDIOPMPHJDBM
BEWBODFNFOUT
BSF
NBEF
XF
DPOUJOVF
UP
FYQMPSF
PQQPSUVOJUJFT
UP
EFWFMPQ
OFX
QSPEVDUT
BOE
QSPWJEF
OFX TFSWJDFT
PWFS
PVS
OFUXPSL
UP
NFFU
UIF
OFFET
PG
PVS
FYJTUJOH
BOE
QSPTQFDUJWF
DVTUPNFST
8F
BSF
DVSSFOUMZ
QVSTVJOH
JOJUJBUJWFT
UIBU XF
FYQFDU
UP
FYQBOE
PVS
TBUFMMJUF
DPNNVOJDBUJPOT
CVTJOFTT
CZ
FGGFDUJWFMZ
MFWFSBHJOH
PVS
OFUXPSL
DBQBCJMJUJFT
BOE
EJTUSJCVUJPO SFMBUJPOTIJQT
"NPOH
PVS
DVSSFOU
JOJUJBUJWFT
BSF
UIF
GPMMPXJOH
UIF
EFWFMPQNFOU
PG
B
UXPXBZ
SFGFSFODF
EFTJHO
BOE
CPBSE
UP
FYQBOE PVS
$PNNFSDJBM
*P5
PGGFSJOHT
WBSJPVT
DPOOFDUJWJUZ
TPMVUJPOT
GPS
UIF
BVUPNPUJWF
NBSLFU
EFSJWBUJWFT
PG
PVS
4BU'J
e
EFWJDF
POF TQFDJGJDBMMZ
EFTJHOFE
GPS
UIF
NBSJUJNF
JOEVTUSZ
BOE
BOPUIFS
GPS
GJYFE
JOTUBMMBUJPO
PVUTJEF
PG
DFMMVMBS
SBOHF
BOE
B
NJOJBUVSJ[FE TBUFMMJUFCBTFE
BOJNBM
USBDLJOH
EFWJDF
$VTUPNFST
5IF
TQFDJBMJ[FE
OFFET
PG
PVS
HMPCBM
DVTUPNFST
TQBO
NBOZ
JOEVTUSJFT
"T
PG
%FDFNCFS


XF
IBE
BQQSPYJNBUFMZ
  TVCTDSJCFST
XPSMEXJEF
QSJODJQBMMZ
XJUIJO
UIF
GPMMPXJOH
NBSLFUT
SFDSFBUJPO
BOE
QFSTPOBM
HPWFSONFOU
QVCMJD
TBGFUZ
BOE
EJTBTUFS SFMJFG
PJM
BOE
HBT
NBSJUJNF
BOE
GJTIJOH
OBUVSBM
SFTPVSDFT
NJOJOH
BOE
GPSFTUSZ
DPOTUSVDUJPO
VUJMJUJFT
BOE
USBOTQPSUBUJPO
0VS TZTUFN
JT
BCMF
UP
PGGFS
PVS
DVTUPNFST
DPTUFGGFDUJWF
DPNNVOJDBUJPOT
TPMVUJPOT
DPNQMFUFMZ
JOEFQFOEFOU
PG
DFMMVMBS
DPWFSBHF "MUIPVHI
USBEJUJPOBM
VTFST
PG
XJSFMFTT
UFMFQIPOZ
BOE
CSPBECBOE
EBUB
TFSWJDFT
IBWF
BDDFTT
UP
UIFTF
TFSWJDFT
JO
EFWFMPQFE
MPDBUJPOT PVS
DVTUPNFST
PGUFO
PQFSBUF
USBWFM
PS
MJWF
JO
SFNPUF
SFHJPOT
PS
SFHJPOT
XJUI
VOEFSEFWFMPQFE
UFMFDPNNVOJDBUJPOT
JOGSBTUSVDUVSF XIFSF
UIFTF
TFSWJDFT
BSF
OPU
SFBEJMZ
BWBJMBCMF
PS
BSF
OPU
QSPWJEFE
PO
B
SFMJBCMF
CBTJT
0VS
UPQ
SFWFOVFHFOFSBUJOH
NBSLFUT
JO
UIF
6OJUFE
4UBUFT
BOE
$BOBEB
BSF
HPWFSONFOU
JODMVEJOH
GFEFSBM
TUBUF
BOE
MPDBM BHFODJFT
QVCMJD
TBGFUZ
BOE
EJTBTUFS
SFMJFG
PJM
BOE
HBT
SFDSFBUJPO
BOE
QFSTPOBM
UFMFDPNNVOJDBUJPOT
0WFS
UIF
QBTU
TFWFSBM
ZFBST UIF
QPSUJPO
PG
PVS
DVTUPNFST
VTJOH
$PNNFSDJBM
*P5
EFWJDFT
IBT
JODSFBTFE
TJHOJGJDBOUMZ
BOE
XF
FYQFDU
UIJT
USFOE
UP
DPOUJOVF
/P POF
DVTUPNFS
XBT
SFTQPOTJCMF
GPS
NPSF
UIBO

PG
PVS
SFWFOVF
JO


PS


%VQMFY
5XP8BZ
7PJDF
BOE
%BUB
1SPEVDUT
.PCJMF
7PJDF
BOE
%BUB
4BUFMMJUF
$PNNVOJDBUJPOT
4FSWJDFT
BOE
&RVJQNFOU
8F
QSPWJEF
NPCJMF
WPJDF
BOE
EBUB
TFSWJDFT
UP
B
XJEF
WBSJFUZ
PG
DPNNFSDJBM
HPWFSONFOU
BOE
JOEJWJEVBM
DVTUPNFST
GPS
SFNPUF CVTJOFTT
DPOUJOVJUZ
SFDSFBUJPOBM
VTBHF
TBGFUZ
FNFSHFODZ
QSFQBSFEOFTT
BOE
SFTQPOTF
BOE
PUIFS
BQQMJDBUJPOT
8F
PGGFS
PVS
TFSWJDFT GPS
VTF
POMZ
XJUI
FRVJQNFOU
EFTJHOFE
UP
XPSL
PO
PVS
OFUXPSL
4VCTDSJCFST
UZQJDBMMZ
QBZ
BO
JOJUJBM
BDUJWBUJPO
GFF
B
NPOUIMZ
VTBHF GFF
GPS
B
GJYFE
PS
VOMJNJUFE
OVNCFS
PG
NJOVUFT
BOE
GFFT
GPS
BEEJUJPOBM
TFSWJDFT
TVDI
BT
WPJDFNBJM
DBMM
GPSXBSEJOH
TIPSU
NFTTBHJOH FNBJM
EBUB
DPNQSFTTJPO
BOE
JOUFSOFU
BDDFTT
&YUSB
GFFT
NBZ
BMTP
BQQMZ
GPS
OPOWPJDF
TFSWJDFT
SPBNJOH
BOE
MPOHEJTUBODF
8F SFHVMBSMZ
NPOJUPS
PVS
TFSWJDF
PGGFSJOHT
JO
BDDPSEBODF
XJUI
DVTUPNFS
EFNBOET
BOE
NBSLFU
DIBOHFT
BOE
PGGFS
QSJDJOH
QMBOT
TVDI
BT CVOEMFE
NJOVUFT
BOOVBM
QMBOT
BOE
VOMJNJUFE
QMBOT

*O
'FCSVBSZ

XF
FOUFSFE
JOUP
BO
BHSFFNFOU
J
QSPWJEJOH
GPS
B
QPUFOUJBM
DVTUPNFS
UP
QBZ
VT
GPS
OPOSFDVSSJOH
FOHJOFFSJOH /3&
TFSWJDFT
JO
DPOOFDUJPO
XJUI
UIF
BTTFTTNFOU
PG
B
QPUFOUJBM
TFSWJDF
VUJMJ[JOH
DFSUBJO
PG
PVS
BTTFUT
BOE
DBQBDJUZ
BOE
JJ
TFUUJOH GPSUI
UIF
QSJNBSZ
UFSNT
GPS
UIF
QPUFOUJBM
EFWFMPQNFOU
BOE
PQFSBUJPO
PG
UIF
TFSWJDF
UIF
a5FSNT
"HSFFNFOUb 
5IF
5FSNT
"HSFFNFOU EPFT
OPU
QSPWJEF
GPS
NBUFSJBM
QBZNFOUT
UP
VT
PS
JNQPTF
NBUFSJBM
PCMJHBUJPOT
PO
VT
VOMFTT
BNPOH
PUIFS
UIJOHT
XF
BOE
UIF
QPUFOUJBM DVTUPNFS
IBWF
BDIJFWFE
DFSUBJO
UFDIOJDBM
NJMFTUPOFT
5IF
5FSNT
"HSFFNFOU
JODMVEFT
DFSUBJO
CJOEJOH
QSPUFDUJWF
QSPWJTJPOT JODMVEJOH
BO
FYDMVTJWJUZ
QSPWJTJPO
OPU
BGGFDUJOH
DVSSFOU
TFSWJDFT
BDDFTT
SJHIUT
SFMBUFE
UP
UIF
BGGFDUFE
BTTFUT
DFSUBJO
JOGPSNBUJPO SJHIUT
BOE
DFSUBJO
QSPWJTJPOT
GPS
GVUVSF
GJOBODJOHT
5IF
5FSNT
"HSFFNFOU
NBZ
CF
UFSNJOBUFE
CZ
UIF
DVTUPNFS
BU
BOZ
UJNF
JO
JUT TPMF
EJTDSFUJPO

 8F
PGGFS
UIF
(41
QIPOF
XIJDI
JODMVEFT
B
VTFSGSJFOEMZ
DPMPS
-$%
TDSFFO
BOE
B
WBSJFUZ
PG
BDDFTTPSJFT
8F
CFMJFWF
UIBU UIF
(41
JT
BNPOH
UIF
TNBMMFTU
MJHIUFTU
BOE
MFBTUFYQFOTJWF
TBUFMMJUF
QIPOFT
8F
BSF
UIF
POMZ
.44
QSPWJEFS
VTJOH
2VBMDPNN *ODPSQPSBUFET
2VBMDPNN
QBUFOUFE
$%."
UFDIOPMPHZ
XIJDI
XF
CFMJFWF
QSPWJEFT
TVQFSJPS
WPJDF
RVBMJUZ
XIFO
DPNQBSFE
UP DPNQFUJUPST
IBOETFUT
8F
OP
MPOHFS
NBOVGBDUVSF
UIF
(41
QIPOF
*OTUFBE
XF
TFMM
SFGVSCJTIFE
(41
QIPOFT
UP
OFX TVCTDSJCFST
UISPVHI
PVS
FYJTUJOH
EJTUSJCVUJPO
DIBOOFMT
5IFTF
QIPOFT
BSF
HFOFSBMMZ
PCUBJOFE
UISPVHI
B
CVZCBDL
QSPHSBN
UIBU
XF IBWF
JO
QMBDF
UP
QVSDIBTF
EFWJDFT
GSPN
EFBDUJWBUFE
TVCTDSJCFST
PS
TVCTDSJCFST
UIBU
IBWF
VQHSBEFE
UP
PVS
4BU'J
e
EFWJDF
JO
PSEFS UP
BEESFTT
EFNBOE
GPS
IBOETFUT

8F
PGGFS
BOPUIFS
WPJDF
BOE
EBUB
TPMVUJPO
4BU'Je
XIJDI
JT
UIF
OFYUHFOFSBUJPO
NPEFM
PG
PVS
PSJHJOBM
4BU'Je
4BU'Je
JT UIF
GJSTU
QSPEVDU
UP
PQFSBUF
VTJOH
PVS
TFDPOEHFOFSBUJPO
HSPVOE
JOGSBTUSVDUVSF
SFTVMUJOH
JO
IJHIFS
EBUB
TQFFET
FOIBODFE
BQQMJDBUJPOT BOE
JNQSPWFE
QFSGPSNBODF
8JUI
4BU'Je
PVS
DVTUPNFST
DBO
VTF
UIFJS
8J'JFOBCMFE
TNBSUQIPOFT
BOE
UBCMFUT
UP
TFOE
BOE
SFDFJWF DPNNVOJDBUJPOT
WJB
UIF
(MPCBMTUBS
4ZTUFN
XIFO
USBWFMJOH
CFZPOE
DFMMVMBS
DPWFSBHF
BDIJFWJOH
B
MFWFM
PG
TFBNMFTT
DPOOFDUJWJUZ OPU
PGGFSFE
CFGPSF
8F
CFMJFWF
4BU'Je
JT
TVQFSJPS
UP
PUIFS
DPNQFUJUPST
QSPEVDUT
SFMFBTFE
UP
EBUF
QSPWJEJOH
UIF
GBTUFTU
NPTU BGGPSEBCMF
NPCJMF
TBUFMMJUF
EBUB
TQFFET
BOE
UIF
DMFBSFTU
WPJDF
DPNNVOJDBUJPOT
JO
UIF
.44
JOEVTUSZ
5ISPVHI
B
DPOWFOJFOU TNBSUQIPOF
BQQ
UIBU
FOBCMFT
DPOOFDUJWJUZ
CFUXFFO
8J'JFOBCMFE
EFWJDFT
BOE
4BU'Je
TBUFMMJUF
IPU
TQPUT
TVCTDSJCFST
JO
SBOHF
PG B
4BU'Je
EFWJDF
DBO
FBTJMZ
TFOE
BOE
SFDFJWF
FNBJM
BOE
4.4
NFTTBHFT
BOE
NBLF
WPJDF
DBMMT
GSPN
UIFJS
PXO
EFWJDF
BU
BOZ
UJNF 8F
CFMJFWF
4BU'Je
SFQSFTFOUT
B
NBKPS
TUFQ
GPSXBSE
UPXBSET
TFBNMFTTMZ
JOUFHSBUJOH
PVS
NPCJMF
TBUFMMJUF
DBQBCJMJUJFT
JOUP
UIF DPNNVOJDBUJPOT
TFSWJDFT
UIBU
QFPQMF
VTF
PO
B
EBJMZ
CBTJT

'JYFE
7PJDF
BOE
%BUB
4BUFMMJUF
$PNNVOJDBUJPOT
4FSWJDFT
BOE
&RVJQNFOU
"NPOH
PUIFS
QMBDFT
XF
QSPWJEF
GJYFE
WPJDF
BOE
EBUB
TFSWJDFT
JO
SVSBM
WJMMBHFT
BU
SFNPUF
JOEVTUSJBM
DPNNFSDJBM
BOE
SFTJEFOUJBM TJUFT
BOE
PO
TIJQT
BU
TFB
*O

XF
JOUSPEVDFE
UIF
4BU'Je
3FNPUF
"OUFOOB
4UBUJPO
3"4
XIJDI
FYQBOET
UIF
DBQBCJMJUJFT PG
PVS
4BU'Je
TBUFMMJUF
IPUTQPU
CZ
JODPSQPSBUJOH
B
IJHIMZ
FGGJDJFOU
SFNPUF
BOUFOOB
5IF
3"4
FOBCMFT
IPUTQPU
VTF
JO
BOZ
WFIJDMF WFTTFM
PS
EJTUBOU
CVJMEJOH
BOE
JT
FBTJMZ
DPOOFDUFE
UP
B
GJYFE
QPXFS
TPVSDF
GPS
TFBNMFTT
DPOOFDUJWJUZ
WJB
UIF
(MPCBMTUBS
4ZTUFN

'JYFE
WPJDF
BOE
EBUB
TBUFMMJUF
DPNNVOJDBUJPOT
TFSWJDFT
BSF
BO
BUUSBDUJWF
BMUFSOBUJWF
UP
NPCJMF
TBUFMMJUF
DPNNVOJDBUJPOT
TFSWJDFT JO
FOWJSPONFOUT
XIFSF
NVMUJQMF
VTFST
XJMM
BDDFTT
UIF
TFSWJDFT
XJUIJO
B
EFGJOFE
HFPHSBQIJD
BSFB
BOE
DFMMVMBS
PS
HSPVOE
QIPOF TFSWJDF
JT
OPU
BWBJMBCMF
0VS
GJYFE
VOJUT
BMTP
NBZ
CF
NPVOUFE
PO
WFIJDMFT
CBSHFT
BOE
DPOTUSVDUJPO
FRVJQNFOU
BOE
CFOFGJU
GSPN UIF
BCJMJUZ
UP
IBWF
IJHIFS
HBJO
BOUFOOBT
0VS
GJYFE
WPJDF
BOE
EBUB
TFSWJDF
QMBOT
BSF
TJNJMBS
UP
PVS
NPCJMF
WPJDF
BOE
EBUB
QMBOT
BOE PGGFS
TJNJMBS
GMFYJCJMJUZ
4BUFMMJUF
%BUB
.PEFN
4FSWJDFT
BOE
&RVJQNFOU
*O
BEEJUJPO
UP
EBUB
VUJMJ[BUJPO
UISPVHI
GJYFE
BOE
NPCJMF
TFSWJDFT
EFTDSJCFE
BCPWF
XF
PGGFS
EBUBPOMZ
TFSWJDFT
UISPVHI
%VQMFY EFWJDFT
XJUI
UXPXBZ
USBOTNJTTJPO
DBQBCJMJUJFT
%VQMFY
BTTFUUSBDLJOH
BQQMJDBUJPOT
FOBCMF
DVTUPNFST
UP
EJSFDUMZ
DPOUSPM
UIFJS SFNPUF
BTTFUT
BOE
QFSGPSN
DPNQMFY
NPOJUPSJOH
BDUJWJUJFT
8F
PGGFS
BTZODISPOPVT
BOE
QBDLFU
EBUB
TFSWJDF
JO
BMM
PG
PVS
%VQMFY UFSSJUPSJFT
$VTUPNFST
DBO
VTF
PVS
QSPEVDUT
UP
BDDFTT
UIF
JOUFSOFU
DPSQPSBUF
WJSUVBM
QSJWBUF
OFUXPSLT
BOE
PUIFS
DVTUPNFSTQFDJGJD EBUB
DFOUFST
0VS
TBUFMMJUF
EBUB
NPEFNT
DBO
CF
BDUJWBUFE
VOEFS
BOZ
PG
PVS
DVSSFOU
QSJDJOH
QMBOT
$VTUPNFST
DBO
BDDFTT
TBUFMMJUF EBUB
NPEFNT
JO
FWFSZ
%VQMFY
SFHJPO
XF
TFSWF
8F
QSPWJEF
TUPSFBOEGPSXBSE
DBQBCJMJUJFT
UP
DVTUPNFST
XIP
EP
OPU
SFRVJSF
SFBM UJNF
USBOTNJTTJPO
BOE
SFDFQUJPO
PG
EBUB
"EEJUJPOBMMZ
XF
PGGFS
B
EBUB
BDDFMFSBUJPO
BOE
DPNQSFTTJPO
TFSWJDF
UP
UIF
TBUFMMJUF
EBUB NPEFN
NBSLFU
5IJT
TFSWJDF
JODSFBTFT
XFCCSPXTJOH
FNBJM
BOE
PUIFS
EBUB
USBOTNJTTJPO
TQFFET
XJUIPVU
BOZ
TQFDJBM
FRVJQNFOU
PS IBSEXBSF

1SPEVDU
%JTUSJCVUJPO
0VS
TBMFT
HSPVQ
JT
SFTQPOTJCMF
GPS
DPOEVDUJOH
EJSFDU
TBMFT
XJUI
LFZ
BDDPVOUT
BOE
GPS
NBOBHJOH
JOEJSFDU
BHFOU
EFBMFS
BOE SFTFMMFS
SFMBUJPOTIJQT
JO
BTTJHOFE
UFSSJUPSJFT
JO
UIF
DPVOUSJFT
JO
XIJDI
XF
PQFSBUF
0VS
UZQJDBM
EFBMFS
JT
B
DPNNVOJDBUJPOT
TFSWJDFT CVTJOFTTUPCVTJOFTT
FRVJQNFOU
SFUBJMFS
8F
PGGFS
DPNQFUJUJWF
TFSWJDF
BOE
FRVJQNFOU
DPNNJTTJPOT
UP
PVS
OFUXPSL
PG
EFBMFST
UP FODPVSBHF
TBMFT

5IF
SFTFMMFS
DIBOOFM
GPS
%VQMFY
FRVJQNFOU
BOE
TFSWJDF
JT
DPNQSJTFE
QSJNBSJMZ
PG
DPNNVOJDBUJPOT
FRVJQNFOU
SFUBJMFST
BOE DPNNFSDJBM
DPNNVOJDBUJPOT
FRVJQNFOU
SFOUBM
DPNQBOJFT
UIBU
SFUBJO
BOE
CJMM
DMJFOUT
EJSFDUMZ
PVUTJEF
PG
PVS
CJMMJOH
TZTUFN
.BOZ PG
PVS
SFTFMMFST
TQFDJBMJ[F
JO
OJDIF
WFSUJDBM
NBSLFUT
XIFSF
IJHIVTF
DVTUPNFST
BSF
DPODFOUSBUFE
8F
IBWF
TBMFT
BSSBOHFNFOUT
XJUI NBKPS
SFTFMMFST
UP
NBSLFU
PVS
TFSWJDFT
JODMVEJOH
TPNF
WBMVFBEEFE
SFTFMMFST
UIBU
JOUFHSBUF
PVS
QSPEVDUT
JOUP
UIFJS
QSPQSJFUBSZ
FOE QSPEVDUT
PS
BQQMJDBUJPOT

 *O
BEEJUJPO
UP
CVZJOH
UISPVHI
PVS
EJTUSJCVUJPO
NBOBHFST
BHFOUT
EFBMFST
BOE
SFTFMMFST
DVTUPNFST
DBO
QMBDF
PSEFST
UISPVHI
PVS FYJTUJOH
TBMFT
GPSDF
BOE
UISPVHI
PVS
EJSFDU
FDPNNFSDF
XFCTJUF
4105
$POTVNFS
3FUBJM
1SPEVDUT
5IF
4105
QSPEVDU
GBNJMZ
IBT
JOJUJBUFE
BQQSPYJNBUFMZ
 
SFTDVFT
TJODF
JUT
MBVODI
JO

"WFSBHJOH
OFBSMZ
UXP
SFTDVFT QFS
EBZ
4105
EFMJWFST
BGGPSEBCMF
BOE
SFMJBCMF
TBUFMMJUFCBTFE
DPOOFDUJWJUZ
BOE
SFBMUJNF
(14
USBDLJOH
UP
IVOESFET
PG
UIPVTBOET PG
VTFST
DPNQMFUFMZ
JOEFQFOEFOU
PG
DFMMVMBS
DPWFSBHF
8F
BSF
OPU
BXBSF
PG
BOZ
PUIFS
DPNQFUJUJWF
PGGFSJOH
UIBU
DBO
NBUDI
UIF
MJGF TBWJOH
SFDPSE
PG
PVS
4105
GBNJMZ
PG
QSPEVDUT
"T
XF
DPOUJOVF
UP
JOOPWBUF
BOE
HSPX
UIF
4105
GBNJMZ
PG
QSPEVDUT
XF
BSF
DPNNJUUFE UP
QSPWJEJOH
BGGPSEBCMF
MJGFTBWJOH
QSPEVDUT
UP
BO
FYQBOEJOH
UBSHFU
NBSLFU
PG
NJMMJPOT
PG
QFPQMF
HMPCBMMZ

8F
EJGGFSFOUJBUF
PVSTFMWFT
GSPN
PUIFS
.44
QSPWJEFST
CZ
PGGFSJOH
BGGPSEBCMF
IJHIVUJMJUZ
NPCJMF
TBUFMMJUF
QSPEVDUT
UIBU
BQQFBM UP
CPUI
CVTJOFTTFT
BOE
UIF
NBJOTUSFBN
DPOTVNFS
NBSLFU
8F
CFMJFWF
UIBU
XF
BSF
UIF
POMZ
WFSUJDBMMZJOUFHSBUFE
NPCJMF
TBUFMMJUF DPNQBOZ
0VS
WFSUJDBM
JOUFHSBUJPO
SFTVMUT
JO
EFDSFBTFE
QSFQSPEVDUJPO
DPTUT
HSFBUFS
RVBMJUZ
BTTVSBODF
BOE
TIPSUFS
UJNF
UP
NBSLFU GPS
PVS
SFUBJM
DPOTVNFS
QSPEVDUT

4105
4BUFMMJUF
(14
.FTTFOHFS
8F
CFHBO
DPNNFSDJBM
TBMFT
PG
UIF
GJSTU
4105
QSPEVDUT
BOE
TFSWJDFT
XIFO
XF
JOUSPEVDFE
UIF
4105
1FSTPOBM
5SBDLFS
JO
 8F
DPOUJOVF
UP
JOOPWBUF
UIJT
QSPEVDU
BOE
IBWF
SFMFBTFE
BOPUIFS
UISFF
HFOFSBUJPOT
PG
PVS
4105
4BUFMMJUF
(14
.FTTFOHFS
UP
UIF NBSLFU
5IF
NPTU
SFDFOU
HFOFSBUJPOT
PG
4105
EFWJDFT
XIJDI
XF
DVSSFOUMZ
TFMM
JODMVEF
4105
(FOe
BOE
4105
9e
$PNQBSFE
UP FBSMJFS
HFOFSBUJPOT
PG
PVS
4105
4BUFMMJUF
(14
.FTTFOHFS
4105
(FOe
PGGFST
FOIBODFE
GVODUJPOBMJUZ
XJUI
NPSF
USBDLJOH
GFBUVSFT JNQSPWFE
CBUUFSZ
QFSGPSNBODF
BOE
NPSF
QPXFS
PQUJPOT
JODMVEJOH
SFDIBSHFBCMF
BOE
64#
EJSFDUMJOF
QPXFS
5IF
QSPEVDU
BMTP FOBCMFT
VTFST
UP
USBOTNJU
NFTTBHFT
UP
B
TQFDJGJD
QSFQSPHSBNNFE
FNBJM
BEESFTT
QIPOF
PS
EBUB
EFWJDF
JODMVEJOH
SFRVFTUT
GPS BTTJTUBODF
BOE
a404b
NFTTBHFT
JO
UIF
FWFOU
PG
BO
FNFSHFODZ

4105
9e
XIJDI
XBT
MBVODIFE
JO
.BZ

JT
PVS
GJSTU
UXPXBZ
4105
4BUFMMJUF
(14
.FTTFOHFS
XJUI
LFZCPBSE
GVODUJPOBMJUZ BMMPXJOH
TVCTDSJCFST
UP
TFOE
BOE
SFDFJWF
4.4
NFTTBHFT
BOE
JNQSPWFE
USBDLJOH
BOE
404
GVODUJPOT
"O
VQHSBEFE
WFSTJPO
PG
4105 9e
XBT
MBVODIFE
JO
4FQUFNCFS

XJUI
FOIBODFE
QFSGPSNBODF
BOE
GFBUVSFT
JODMVEJOH
UIF
GMFYJCJMJUZ
UP
VTF
UIF
4105
9e
EFWJDF UP
DPOOFDU
UP
B
TNBSUQIPOF
WJB
#MVFUPPUIe
XJSFMFTT
UFDIOPMPHZ
UISPVHI
UIF
4105
9e
BQQ
UP
TFOE
BOE
SFDFJWF
TBUFMMJUF
NFTTBHFT

8F
UBSHFU
PVS
4105
4BUFMMJUF
(14
.FTTFOHFS
UP
SFDSFBUJPOBM
BOE
DPNNFSDJBM
NBSLFUT
UIBU
SFRVJSF
QFSTPOBM
USBDLJOH
FNFSHFODZ MPDBUJPO
BOE
NFTTBHJOH
TPMVUJPOT
UIBU
PQFSBUF
CFZPOE
UIF
SFBDI
PG
UFSSFTUSJBM
XJSFMFTT
BOE
XJSFMJOF
DPWFSBHF
6TJOH
PVS
OFUXPSL BOE
XFCCBTFE
NBQQJOH
TPGUXBSF
UIJT
EFWJDF
QSPWJEFT
DPOTVNFST
XJUI
UIF
BCJMJUZ
UP
USBDF
B
QBUI
HFPHSBQIJDBMMZ
PS
NBQ
UIF
MPDBUJPO PG
JOEJWJEVBMT
PS
FRVJQNFOU
4105
4BUFMMJUF
(14
.FTTFOHFS
QSPEVDUT
BOE
TFSWJDFT
BSF
BWBJMBCMF
WJSUVBMMZ
FWFSZXIFSF
UISPVHI
PVS QSPEVDU
EJTUSJCVUJPO
DIBOOFMT
BOE
PVS
EJSFDU
FDPNNFSDF
XFCTJUF


4105
5SBDF`
4105
5SBDFe
JT
B
DPTUFGGFDUJWF
BOUJUIFGU
BOE
BTTFUUSBDLJOH
EFWJDF
4105
5SBDFe
FOTVSFT
DBST
NPUPSDZDMFT
CPBUT
"57T TOPXNPCJMFT
BOE
PUIFS
WBMVBCMF
BTTFUT
BSF
XIFSF
UIFZ
OFFE
UP
CF
OPUJGZJOH
PXOFST
WJB
FNBJM
PS
UFYU
BOZUJNF
NPWFNFOU
JT
EFUFDUFE VTJOH

TBUFMMJUF
UFDIOPMPHZ
UP
QSPWJEF
MPDBUJPOCBTFE
NFTTBHJOH
BOE
FNFSHFODZ
OPUJGJDBUJPO
GPS
PO
PS
PGG
UIF
HSJE DPNNVOJDBUJPOT

1SPEVDU
%JTUSJCVUJPO
8F
EJTUSJCVUF
BOE
TFMM
PVS
4105
QSPEVDUT
UISPVHI
B
WBSJFUZ
PG
EJTUSJCVUJPO
DIBOOFMT
8F
IBWF
EJTUSJCVUJPO
SFMBUJPOTIJQT
XJUI B
OVNCFS
PG
#JH
#PY
SFUBJMFST
BOE
PUIFS
TJNJMBS
EJTUSJCVUJPO
DIBOOFMT
JODMVEJOH
"NB[PO
#BTT
1SP
4IPQT
$BCFMBT
'SZT &MFDUSPOJDT
3&*
4QPSUTNBOT
8BSFIPVTF
"DBEFNZ
BOE
8FTU
.BSJOF
8F
BMTP
TFMM
4105
QSPEVDUT
BOE
TFSWJDFT
EJSFDUMZ
VTJOH PVS
FYJTUJOH
TBMFT
GPSDF
BOE
UISPVHI
PVS
EJSFDU
FDPNNFSDF
XFCTJUF
XXXGJOENFTQPUDPN
BT
XFMM
BT
UISPVHI
DFSUBJO
PG
PVS
*(0T

 $PNNFSDJBM
*P5
0OF8BZ
5SBOTNJTTJPO
1SPEVDUT
$PNNFSDJBM
*P5
TFSWJDF
JT
DVSSFOUMZ
B
POFXBZ
EBUB
TFSWJDF
GSPN
BO
*P5
EFWJDF
PWFS
UIF
(MPCBMTUBS
4ZTUFN
UIBU
DBO
CF
VTFE UP
USBDL
BOE
NPOJUPS
BTTFUT
0VS
TVCTDSJCFST
VTF
PVS
$PNNFSDJBM
*P5
EFWJDFT
GPS
B
IPTU
PG
BQQMJDBUJPOT
UP
USBDL
BTTFUT
TVDI
BT DBSHP
DPOUBJOFST
BOE
SBJM
DBST
UP
NPOJUPS
VUJMJUZ
NFUFST
BOE
UP
NPOJUPS
PJM
BOE
HBT
BTTFUT
"U
UIF
IFBSU
PG
UIF
$PNNFSDJBM
*P5 TFSWJDF
JT
B
EFNPEVMBUPS
BOE
3'
JOUFSGBDF
DBMMFE
BO
BQQMJRVf
XIJDI
JT
MPDBUFE
BU
B
HBUFXBZ
BOE
BO
BQQMJDBUJPO
TFSWFS
JO
PVS GBDJMJUJFT
5IF
BQQMJRVfFRVJQQFE
HBUFXBZT
QSPWJEF
DPWFSBHF
PWFS
WBTU
BSFBT
PG
UIF
HMPCF
5IF
TNBMM
TJ[F
PG
UIF
EFWJDFT
NBLFT UIFN
BUUSBDUJWF
GPS
VTF
JO
USBDLJOH
BTTFU
TIJQNFOUT
NPOJUPSJOH
VOBUUFOEFE
SFNPUF
BTTFUT
USBJMFS
USBDLJOH
BOE
NPCJMF
TFDVSJUZ $VSSFOU
VTFST
JODMVEF
WBSJPVT
HPWFSONFOUBM
BHFODJFT
JODMVEJOH
UIF
'FEFSBM
&NFSHFODZ
.BOBHFNFOU
"HFODZ
a'&."b
UIF
64 "SNZ
UIF
64
"JS
'PSDF
UIF
/BUJPOBM
0DFBOJD
BOE
"UNPTQIFSJD
"ENJOJTUSBUJPO
a/0""b
UIF
64
'PSFTU
4FSWJDF
BOE
UIF
6, .JOJTUSZ
PG
%FGFODF
BT
XFMM
BT
PUIFS
PSHBOJ[BUJPOT
JODMVEJOH
#1
4IFMM
BOE
5IF
4BMWBUJPO
"SNZ
8F
EFTJHOFE
PVS
$PNNFSDJBM
*P5
TFSWJDF
UP
BEESFTT
EFNBOE
JO
UIF
NBSLFU
GPS
B
TNBMM
BOE
DPTUFGGFDUJWF
TPMVUJPO
GPS
TFOEJOH EBUB
TVDI
BT
HFPHSBQIJD
DPPSEJOBUFT
GSPN
BTTFUT
PS
JOEJWJEVBMT
JO
SFNPUF
MPDBUJPOT
UP
B
DFOUSBM
NPOJUPSJOH
TUBUJPO
$VTUPNFST SFBMJ[F
BO
FGGJDJFODZ
BEWBOUBHF
GSPN
USBDLJOH
BTTFUT
PO
B
TJOHMF
HMPCBM
TZTUFN
BT
DPNQBSFE
UP
TFWFSBM
SFHJPOBM
TZTUFNT

4BUFMMJUF
5SBOTNJUUFS
$IJQTFUT

8F
PGGFS
TNBMM
TBUFMMJUF
USBOTNJUUFS
DIJQTFUT
TVDI
BT
UIF
459
BOE
45*/(3
XIJDI
FOBCMF
BO
JOUFHSBUPSgT
QSPEVDUT
UP
BDDFTT PVS
$PNNFSDJBM
*P5
OFUXPSL
8F
IBWF
TBMFT
BSSBOHFNFOUT
XJUI
NBKPS
SFTFMMFST
UP
NBSLFU
PVS
*P5
TFSWJDFT
JODMVEJOH
TPNF
WBMVF BEEFE
SFTFMMFST
UIBU
JOUFHSBUF
PVS
459
BOE
45*/(3
JOUP
UIFJS
QSPQSJFUBSZ
TPMVUJPOT
EFTJHOFE
UP
NFFU
DFSUBJO
TQFDJBMJ[FE
OJDIF NBSLFU
BQQMJDBUJPOT
5IF
459
QSPWJEFT
BEEJUJPOBM
PQQPSUVOJUJFT
UP
JOUFHSBUF
TBUFMMJUF
DPOOFDUJWJUZ
JOUP
QSPEVDUT
VTFE
GPS
WFIJDMF BOE
BTTFU
USBDLJOH
SFNPUF
EBUB
SFQPSUJOH
BOE
EBUB
MPHHFS
SFQPSUJOH
UIBU
IBWF
MJNJUFE
TJ[F
SFRVJSFNFOUT
"GGPSEBCMF
QSJDJOH
MPX QPXFS
DPOTVNQUJPO
BOE
JUT
TNBMM
TJ[F
NBLF
UIF
459
B
IJHIMZ
FGGJDJFOU
EFWJDF
SFBEZ
GPS
JOUFHSBUJPO
JO
B
XJEF
WBSJFUZ
PG
BQQMJDBUJPOT 5IF
45*/(3
PS
4BUFMMJUF
5SBOTNJUUFS
*OUFHSBUFE
(14
3FDFJWFS
TJHOJGJDBOUMZ
SFEVDFT
UIF
EFTJHO
FGGPSU
SFRVJSFE
UP
IFMQ
DVTUPNFST CVJME
DPNQBDU
BOE
FGGJDJFOU
TBUFMMJUF
DPNNVOJDBUJPOT
EFWJDFT

5IF
NPEVMF
JODMVEFT
B
IJHIQFSGPSNBODF
(14
SFDFJWFS
BT
XFMM
BT BO
POCPBSE
EVBM
CBOE
BOUFOOB
XIJDI
HSFBUMZ
TJNQMJGJFT
UIF
FGGPSU
PG
JOUFHSBUJOH
TBUFMMJUF
DPNNVOJDBUJPOT
JOUP
B
USBDLJOH
PS NPOJUPSJOH
EFWJDF

4NBSU0OF
"TTFU
.BOBHFST

8F
BMTP
PGGFS
DPNQMFUF
QSPEVDUT
UIBU
VUJMJ[F
UIF
459
BOE
45*/(3
USBOTNJUUFS
DIJQTFUT
0VS
$PNNFSDJBM
*P5
VOJUT
JODMVEJOH UIF
FOUFSQSJTFHSBEF
4NBSU0OF
GBNJMZ
PG
BTTFUSFBEZ
USBDLJOH
VOJUT
BSF
VTFE
XPSMEXJEF
CZ
JOEVTUSJBM
DPNNFSDJBM
BOE
HPWFSONFOU DVTUPNFST
5IFTF
QSPEVDUT
QSPWJEF
DPTUFGGFDUJWF
MPXQPXFS
VMUSBSFMJBCMF
TFDVSF
NPOJUPSJOH
UIBU
IFMQ
TPMWF
B
WBSJFUZ
PG
TFDVSJUZ BQQMJDBUJPOT
BOE
BTTFU
USBDLJOH
DIBMMFOHFT
1BSUOFSJOH
XJUI
FYJTUJOH
UIJSE
QBSUZ
UFDIOPMPHZ
QSPWJEFST
XF
BSF
EFWFMPQJOH
*P5 QSPEVDUT
UP
DPOOFDU
FYJTUJOH
BOE
OFX
VTFST
BOE
BDDFMFSBUF
EFQMPZNFOU
PG
BO
FYQBOEFE
(MPCBMTUBS
*P5
QSPEVDU
TVJUF

-BVODIFE
JO
.BSDI

PVS
4NBSU0OF
4PMBSh
EFWJDF
XBT
UIF
GJSTU
PG
UIFTF
QSPEVDUT
*U
JT
TPMBSQPXFSFE
BOE
TVQQPSUT TJNJMBS
GVODUJPOBMJUZ
UP
PVS
4NBSU0OF
TVJUF
PG
QSPEVDUT
XJUIPVU
UIF
OFFE
UP
SFDIBSHF
CBUUFSJFT
PS
MJOF
QPXFS
UIF
EFWJDF
PWFS
BO FYQFDUFE
MJGF
PG
VQ
UP
UFO
ZFBST
5IFTF
GFBUVSFT
XJMM
SFTVMU
JO
B
MPOHFS
GJFME
MJGF
UIBO
FYJTUJOH
EFWJDFT
4PMBSQPXFSFE
EFWJDFT
BMTP UBLF
BEWBOUBHF
PG
PVS
OFUXPSLT
BCJMJUZ
UP
TVQQPSU
NVMUJQMF
CJMMJPOT
PG
EBJMZ
USBOTNJTTJPOT
5IF
4NBSU0OF
4PMBSh
BMTP
IBT VOQBSBMMFMFE
TBGFUZ
BOE
FOWJSPONFOUBM
DFSUJGJDBUJPOT
JODMVEJOH
"5&9
*&$&Y
/PSUI
"NFSJDB
/&$

$&$
*1,
BOE )&30

1SPEVDU
%JTUSJCVUJPO
5IF
SFTFMMFS
DIBOOFM
GPS
$PNNFSDJBM
*P5
FRVJQNFOU
BOE
TFSWJDF
JT
DPNQSJTFE
QSJNBSJMZ
PG
WBMVFBEEFE
SFTFMMFST
BOE DPNNFSDJBM
DPNNVOJDBUJPOT
FRVJQNFOU
DPNQBOJFT
UIBU
SFUBJO
BOE
CJMM
DMJFOUT
EJSFDUMZ
PVUTJEF
PG
PVS
CJMMJOH
TZTUFN
.BOZ
PG
PVS SFTFMMFST
TQFDJBMJ[F
JO
OJDIF
WFSUJDBM
NBSLFUT
XIFSF
IJHIVTF
DVTUPNFST
BSF
DPODFOUSBUFE
8F
FYQFDU
UIBU
EFNBOE
GPS
PVS
$PNNFSDJBM *P5
QSPEVDUT
BOE
TFSWJDFT
XJMM
JODSFBTF
BT
NPSF
BQQMJDBUJPOT
BSF
EFWFMPQFE
BOE
EFQMPZFE
UIBU
VUJMJ[F
PVS
UFDIOPMPHZ

8F
BSF
BMTP
EFWFMPQJOH
$PNNFSDJBM
*P5
QSPEVDUT
UIBU
TVQQPSU
UXPXBZ
DPNNVOJDBUJPOT
BMMPXJOH
GPS
CPUI
USBDLJOH
BOE DPOUSPM
PG
BTTFUT
JO
PVS
DPWFSBHF
GPPUQSJOU

 *OEFQFOEFOU
(BUFXBZ
0QFSBUPST
0VS
XIPMFTBMF
PQFSBUJPOT
FODPNQBTT
QSJNBSJMZ
CVML
TBMFT
PG
XIPMFTBMF
NJOVUFT
UP
*(0T
BSPVOE
UIF
HMPCF
*(0T
NBJOUBJO UIFJS
PXO
TVCTDSJCFS
CBTFT
UIBU
BSF
NPTUMZ
FYDMVTJWF
UP
VT
BOE
QSPNPUF
UIFJS
PXO
TFSWJDF
QMBOT
5IF
*(0
TZTUFN
BMMPXT
VT
UP FYQBOE
JO
SFHJPOT
UIBU
IPME
TJHOJGJDBOU
HSPXUI
QPUFOUJBM
CVU
BSF
IBSEFS
UP
TFSWF
XJUIPVU
TVGGJDJFOU
PQFSBUJPOBM
TDBMF
PS
XIFSF
MPDBM SFHVMBUPSZ
SFRVJSFNFOUT
EP
OPU
QFSNJU
VT
UP
PQFSBUF
EJSFDUMZ
$VSSFOUMZ

PG
UIF

HBUFXBZT
JO
PVS
OFUXPSL
BSF
PXOFE
BOE
PQFSBUFE
CZ
VOBGGJMJBUFE
DPNQBOJFT
TPNF
PG
XIPN
PQFSBUF NPSF
UIBO
POF
HBUFXBZ
&YDFQU
GPS
(MPCBMTUBS
"TJB
1BDJGJD
PVS
KPJOU
WFOUVSF
JO
4PVUI
,PSFB
JO
XIJDI
XF
IPME
B

FRVJUZ JOUFSFTU
XF
IBWF
OP
GJOBODJBM
JOUFSFTU
JO
UIFTF
*(0T
BOE
DPOEVDU
CVTJOFTT
XJUI
UIFN
UISPVHI
BSNTg
MFOHUI
DPOUSBDUT
GPS
XIPMFTBMF NJOVUFT
PG
TFSWJDF

4FU
GPSUI
CFMPX
JT
B
MJTU
PG
*(0T
BT
PG
%FDFNCFS


-PDBUJPO (BUFXBZ *OEFQFOEFOU
(BUFXBZ
0QFSBUPST "VTUSBMJB %VCCP 1JWPUFM
(SPVQ
15:
-JNJUFE "VTUSBMJB .PVOU
*TB 1JWPUFM
(SPVQ
15:
-JNJUFE "VTUSBMJB .FFLBUIBSSB 1JWPUFM
(SPVQ
15:
-JNJUFE 4PVUI
,PSFB :FP
+V (MPCBMTUBS
"TJB
1BDJGJD 3VTTJB ,IBCBSPWTL (MPCBM5FM 3VTTJB .PTDPX (MPCBM5FM 3VTTJB /PWPTJCJSTL (MPCBM5FM 5VSLFZ 0HVMCFZ (MPCBMTUBS
"WSBTZB

%VSJOH

XF
QVSDIBTFE
DFSUBJO
BTTFUT
BOE
SFMBUFE
HPWFSONFOU
BVUIPSJ[BUJPOT
GSPN
UIF
PXOFS
PG
PVS
*(0
JO
"SHFOUJOB 8F
BSF
OPX
DVSSFOUMZ
JO
UIF
QSPDFTT
PG
VQHSBEJOH
UIJT
(MPCBMTUBSPXOFE
HBUFXBZ
UP
TFDPOEHFOFSBUJPO
UFDIOPMPHZ
*O

KPJOUMZ XJUI
PVS
*(0
JO
.FYJDP
XF
EFDJEFE
UP
TIVU
EPXO
UIF
HBUFXBZ
BOE
BHSFFE
UIBU
(MPCBMTUBS
XPVME
PQFSBUF
B
OFX
HBUFXBZ
BU
B
NPSF PQUJNBM
MPDBUJPO
$PWFSBHF
DPOUJOVFT
UISPVHI
PUIFS
(MPCBMTUBSPXFE
HBUFXBZ
MPDBUJPOT
"DDPSEJOHMZ
CPUI
PG
UIFTF
QSFWJPVTMZ *(0PXOFE
HBUFXBZT
XFSF
SFNPWFE
GSPN
UIF
UBCMF
BCPWF
BT
PG
%FDFNCFS



0UIFS
4FSWJDFT
8F
BMTP
QSPWJEF
FOHJOFFSJOH
TFSWJDFT
UP
BTTJTU
PVS
DPNNFSDJBM
BOE
HPWFSONFOU
DVTUPNFST
JO
EFWFMPQJOH
OFX
BQQMJDBUJPOT SFMBUFE
UP
PVS
TZTUFN
BOE
UP
FOHJOFFS
BOE
JOTUBMM
OFX
HBUFXBZT
UIBU
VTF
PVS
TZTUFN
5IFTF
TFSWJDFT
JODMVEF
IBSEXBSF
BOE
TPGUXBSF EFTJHOT
UP
EFWFMPQ
TQFDJGJD
BQQMJDBUJPOT
PQFSBUJOH
PWFS
PVS
OFUXPSL
BT
XFMM
BT
UIF
JOTUBMMBUJPO
PG
HBUFXBZT
BOE
BOUFOOBT
4QFDUSVN
BOE
3FHVMBUPSZ
4USVDUVSF
8F
CFOFGJU
GSPN
B
XPSMEXJEF
BMMPDBUJPO
PG
SBEJP
GSFRVFODZ
TQFDUSVN
JO
UIF
JOUFSOBUJPOBM
SBEJP
GSFRVFODZ
UBCMFT
BENJOJTUFSFE CZ
UIF
*OUFSOBUJPOBM
5FMFDPNNVOJDBUJPOT
6OJPO
a*56b 
"DDFTT
UP
UIJT
HMPCBMMZ
IBSNPOJ[FE
TQFDUSVN
FOBCMFT
VT
UP
EFTJHO TBUFMMJUFT
OFUXPSLT
BOE
UFSSFTUSJBM
JOGSBTUSVDUVSF
FOIBODFNFOUT
NPSF
DPTU
FGGFDUJWFMZ
CFDBVTF
UIF
QSPEVDUT
BOE
TFSWJDFT
DBO
CF EFQMPZFE
BOE
TPME
XPSMEXJEF
*O
BEEJUJPO
UIJT
CSPBE
TQFDUSVN
BTTJHONFOU
FOIBODFT
PVS
BCJMJUZ
UP
DBQJUBMJ[F
PO
FYJTUJOH
BOE FNFSHJOH
XJSFMFTT
BOE
CSPBECBOE
BQQMJDBUJPOT
'JSTU(FOFSBUJPO
$POTUFMMBUJPO
*O
UIF
6OJUFE
4UBUFT
UIF
'FEFSBM
$PNNVOJDBUJPOT
$PNNJTTJPO
'$$
IBT
BVUIPSJ[FE
VT
UP
PQFSBUF
PVS
GJSTUHFOFSBUJPO TBUFMMJUFT
JO

.)[
PG
SBEJP
TQFDUSVN
DPNQSJTJOH
UXP
CMPDLT
PG
OPODPOUJHVPVT
SBEJP
GSFRVFODJFT
JO
UIF

()[
CBOE DPNNPOMZ
SFGFSSFE
UP
BT
UIF
#JH
-&0
4QFDUSVN
#BOE
4QFDJGJDBMMZ
UIF
'$$
IBT
BVUIPSJ[FE
VT
UP
PQFSBUF
CFUXFFO
 .)[
GPS
a6QMJOLb
DPNNVOJDBUJPOT
GSPN
NPCJMF
FBSUI
UFSNJOBMT
UP
PVS
TBUFMMJUFT
BOE
CFUXFFO

.)[
GPS
a%PXOMJOLb DPNNVOJDBUJPOT
GSPN
PVS
TBUFMMJUFT
UP
PVS
NPCJMF
FBSUI
UFSNJOBMT
5IF
'$$
IBT
BMTP
BVUIPSJ[FE
VT
UP
PQFSBUF
PVS
GPVS
EPNFTUJD HBUFXBZT
XJUI
PVS
GJSTUHFOFSBUJPO
TBUFMMJUFT
JO
UIF

BOE

.)[
CBOET

 5ISFF
PG
PVS
TVCTJEJBSJFT
IPME
PVS
'$$
MJDFOTFT
(MPCBMTUBS
-JDFOTFF
--$
IPMET
PVS
.44
MJDFOTF
(64"
-JDFOTFF
--$ a(64"b
JT
BVUIPSJ[FE
CZ
UIF
'$$
UP
EJTUSJCVUF
NPCJMF
BOE
GJYFE
TVCTDSJCFS
UFSNJOBMT
BOE
UP
PQFSBUF
HBUFXBZT
JO
UIF
6OJUFE 4UBUFT
(64"
IPMET
UIF
MJDFOTFT
GPS
PVS
HBUFXBZT
JO
5FYBT
'MPSJEB
BOE
"MBTLB
"OPUIFS
TVCTJEJBSZ
($-
-JDFOTFF
--$
a($-b IPMET
BO
'$$
MJDFOTF
UP
PQFSBUF
B
HBUFXBZ
JO
1VFSUP
3JDP
($-
JT
BMTP
TVCKFDU
UP
SFHVMBUJPO
CZ
UIF
1VFSUP
3JDBO
5FMFDPNNVOJDBUJPOT 3FHVMBUPSZ
#PBSE

0VS
QSJPS
/PO(FPTUBUJPOBSZ
4BUFMMJUF
0SCJU
a/(40b
TBUFMMJUF
DPOTUFMMBUJPO
MJDFOTF
JTTVFE
CZ
UIF
'$$
JT
WBMJE
VOUJM
0DUPCFS 
5IJT
MJDFOTF
BQQMJFT
POMZ
UP
PVS
DPOUJOVFE
VTF
PG
PVS
GJSTUHFOFSBUJPO
TBUFMMJUFT
4FDPOE(FOFSBUJPO
$POTUFMMBUJPO
8F
MJDFOTFE
BOE
SFHJTUFSFE
PVS
TFDPOEHFOFSBUJPO
TBUFMMJUFT
JO
'SBODF
8F
BMTP
PCUBJOFE
BMM
BVUIPSJ[BUJPOT
OFDFTTBSZ
GSPN
UIF '$$
UP
PQFSBUF
PVS
EPNFTUJD
HBUFXBZT
XJUI
PVS
TFDPOEHFOFSBUJPO
TBUFMMJUFT
*O
BDDPSEBODF
XJUI
PVS
BVUIPSJ[BUJPO
UP
PQFSBUF
UIF TFDPOEHFOFSBUJPO
TBUFMMJUFT
XF
DPNQMFUFE
UIF
FOIBODFNFOUT
UP
UIF
FYJTUJOH
HBUFXBZ
PQFSBUJPOT
JO
"VTTBHVFM
'SBODF
UP
JODMVEF TBUFMMJUF
PQFSBUJPOT
BOE
DPOUSPM
GVODUJPOT
8F
IBWF
SFEVOEBOU
TBUFMMJUF
PQFSBUJPO
DPOUSPM
GBDJMJUJFT
JO
$PWJOHUPO
-PVJTJBOB
.JMQJUBT $BMJGPSOJB
BOE
"VTTBHVFM
'SBODF
5IF
GSFRVFODZ
BTTJHONFOUT
GJMFE
PO
UIF
CFIBMG
PG
(MPCBMTUBS
CZ
UIF
'SFODI
/BUJPOBM
'SFRVFODJFT
"HFODZ
a"/'3b
XJUI
UIF *56
JO

IBWF
CFFO
SFDPSEFE
JO
UIF
.BTUFS
JOUFSOBUJPOBM
'SFRVFODZ
3FHJTUFS
.*'3 
5IJT
SFDPSEJOH
PG
UIF
(MPCBMTUBS
GSFRVFODZ BTTJHONFOUT
JO
UIF
.*'3
QSPWJEFT
JOUFSOBUJPOBM
SFDPHOJUJPO
PG
UIFTF
BTTJHONFOUT
BOE
GBDJMJUBUFT
UIF
VTF
PG
UIFTF
BTTJHONFOUT
XIJMF UIF
GSFRVFODZ
DPPSEJOBUJPO
QSPDFTT
XJUI
UIF
UXP
SFNBJOJOH
TZTUFNT
JT
DPNQMFUFE

5FSSFTUSJBM
"VUIPSJUZ
GPS
(MPCBMTUBST
-JDFOTFE

()[
4QFDUSVN

*O
%FDFNCFS

UIF
'$$
VOBOJNPVTMZ
BEPQUFE
B
3FQPSU
BOE
0SEFS
QFSNJUUJOH
VT
UP
TFFL
NPEJGJDBUJPO
PG
PVS
FYJTUJOH
.44 MJDFOTFT
UP
QSPWJEF
UFSSFTUSJBM
CSPBECBOE
TFSWJDFT
PWFS

.)[
PG
PVS
MJDFOTFE
.PCJMF
4BUFMMJUF
4FSWJDFT
TQFDUSVN
BU

UP 
.)[
UISPVHIPVU
UIF
6OJUFE
4UBUFT
PG
"NFSJDB
BOE
JUT
5FSSJUPSJFT
*O
"VHVTU

UIF
'$$
NPEJGJFE
(MPCBMTUBST
.44 MJDFOTFT
HSBOUJOH
VT
BVUIPSJUZ
UP
QSPWJEF
UFSSFTUSJBM
CSPBECBOE
TFSWJDFT
PWFS
B
QPSUJPO
PG
PVS
TBUFMMJUF
TQFDUSVN
4QFDJGJDBMMZ
UIF '$$
NPEJGJFE
(MPCBMTUBST
TQBDF
TUBUJPO
BVUIPSJ[BUJPO
BOE
PVS
CMBOLFU
NPCJMF
FBSUI
TUBUJPO
MJDFOTF
UP
QFSNJU
B
OFUXPSL
VTJOH
 .)[
PG
PVS
BVUIPSJ[FE
#JH
-&0
NPCJMFTBUFMMJUF
TFSWJDF
TQFDUSVN
8F
XJMM
OFFE
UP
DPNQMZ
XJUI
DFSUBJO
DPOEJUJPOT
JO
PSEFS
UP QSPWJEF
UFSSFTUSJBM
CSPBECBOE
TFSWJDF
JODMVEJOH
PCUBJOJOH
'$$
DFSUJGJDBUJPOT
GPS
PVS
FRVJQNFOU
UIBU
XJMM
VUJMJ[F
UIJT
TQFDUSVN BVUIPSJUZ

8F
CFMJFWF
PVS
.44
TQFDUSVN
QPTJUJPO
QSPWJEFT
QPUFOUJBM
GPS
IBSNPOJ[FE
UFSSFTUSJBM
BVUIPSJUZ
BDSPTT
NBOZ
JOUFSOBUJPOBM SFHVMBUPSZ
EPNBJOT
BOE
IBWF
CFFO
TFFLJOH
BQQSPWBMT
JO
WBSJPVT
JOUFSOBUJPOBM
KVSJTEJDUJPOT
5P
EBUF
XF
IBWF
SFDFJWFE
UFSSFTUSJBM BVUIPSJ[BUJPOT
JO
DFSUBJO
DPVOUSJFT
8F
FYQFDU
UIJT
HMPCBM
FGGPSU
UP
DPOUJOVF
GPS
UIF
GPSFTFFBCMF
GVUVSF
XIJMF
XF
TFFL
BEEJUJPOBM UFSSFTUSJBM
BQQSPWBMT
UP
JOUFSOBUJPOBMMZ
IBSNPOJ[F
PVS
4CBOE
TQFDUSVN
BDSPTT
UIF
FOUJSF

.)[
BVUIPSJUZ
GPS
UFSSFTUSJBM
NPCJMF CSPBECBOE
TFSWJDFT

8F
FYQFDU
PVS
UFSSFTUSJBM
BVUIPSJUZ
XJMM
BMMPX
GVUVSF
QBSUOFST
UP
EFWFMPQ
IJHIEFOTJUZ
EFEJDBUFE
OFUXPSLT
VTJOH
UIF
5%-5& QSPUPDPM
GPS
QSJWBUF
-5&
OFUXPSLT
BT
XFMM
BT
UIF
EFOTJGJDBUJPO
PG
DFMMVMBS
OFUXPSLT
8F
CFMJFWF
UIBU
PVS
PGGFSJOH
IBT
DPNQFUJUJWF BEWBOUBHFT
PWFS
PUIFS
DPOWFOUJPOBM
DPNNFSDJBM
TQFDUSVN
BMMPDBUJPOT
4VDI
PUIFS
BMMPDBUJPOT
NVTU
NFFU
NJOJNVN
QPQVMBUJPO DPWFSBHF
SFRVJSFNFOUT
XIJDI
FGGFDUJWFMZ
QSPIJCJU
UIF
FYDMVTJWF
VTF
PG
NPTU
DBSSJFS
TQFDUSVN
GPS
EFEJDBUFE
TNBMM
DFMM
EFQMPZNFOUT *O
BEEJUJPO
MPX
GSFRVFODZ
DBSSJFS
TQFDUSVN
JT
OPU
QIZTJDBMMZ
XFMM
TVJUFE
UP
IJHIEFOTJUZ
TNBMM
DFMM
UPQPMPHJFT
BOE
NN8BWF TQFDUSVN
JT
TVCKFDU
UP
SBOHF
BOE
BUUFOVBUJPO
MJNJUBUJPOT
8F
CFMJFWF
UIBU
PVS
MJDFOTFE

()[
CBOE
IPMET
QIZTJDBM
SFHVMBUPSZ
BOE FDPTZTUFN
RVBMJUJFT
UIBU
EJTUJOHVJTIFT
JU
GSPN
PUIFS
DVSSFOU
BOE
BOUJDJQBUFE
BMMPDBUJPOT
BOE
UIBU
JU
JT
XFMM
QPTJUJPOFE
UP
CBMBODF GBWPSBCMF
SBOHF
DBQBDJUZ
BOE
BUUFOVBUJPO
DIBSBDUFSJTUJDT

*O
%FDFNCFS

XF
XFSF
TVDDFTTGVM
JO
PCUBJOJOH
BQQSPWBM
UP
DSFBUF
B
OFX
EFGJOFE
CBOE
DMBTT
#BOE

GSPN
UIF
5IJSE (FOFSBUJPO
1BSUOFSTIJQ
1SPKFDU
(11
GPS
PVS

()[
UFSSFTUSJBM
TQFDUSVN
5IJT
OFX
CBOE
DMBTT
QSPWJEFT
B
QBUIXBZ
GPS
PVS UFSSFTUSJBM
TQFDUSVN
UP
CF
JOUFHSBUFE
JOUP
IBOETFU
BOE
JOGSBTUSVDUVSF
FDPTZTUFNT
"EEJUJPOBM
GPMMPXPO
(11
TQFDJGJDBUJPOT
BOE BQQSPWBMT
BSF
FYQFDUFE
JO
UIF
GVUVSF

/BUJPOBM
3FHVMBUJPO
PG
4FSWJDF
1SPWJEFST
*O
PSEFS
UP
PQFSBUF
HBUFXBZT
BQQMJDBCMF
MBXT
BOE
SFHVMBUJPOT
SFRVJSF
UIF
*(0T
BOE
PVS
BGGJMJBUFT
JO
FBDI
DPVOUSZ
UP
PCUBJO
B MJDFOTF
PS
MJDFOTFT
GSPN
UIBU
DPVOUSZT
UFMFDPNNVOJDBUJPOT
SFHVMBUPSZ
BVUIPSJUZ
*O
BEEJUJPO
UIF
HBUFXBZ
PQFSBUPS
NVTU
FOUFS
JOUP BQQSPQSJBUF
JOUFSDPOOFDUJPO
BOE
GJOBODJBM
TFUUMFNFOU
BHSFFNFOUT
XJUI
MPDBM
BOE
JOUFSFYDIBOHF
UFMFDPNNVOJDBUJPOT
QSPWJEFST
"MM HBUFXBZT
PQFSBUFE
CZ
VT
PS
UIF
*(0T
BSF
MJDFOTFE
CZ
UIF
BQQSPQSJBUF
SFHVMBUPSZ
BVUIPSJUZ


0VS
TVCTDSJCFS
FRVJQNFOU
HFOFSBMMZ
NVTU
CF
UZQF
DFSUJGJFE
JO
DPVOUSJFT
JO
XIJDI
JU
JT
TPME
PS
MFBTFE
5IF
NBOVGBDUVSFST
PG
UIF FRVJQNFOU
BOE
PVS
BGGJMJBUFT
PS
*(0T
BSF
KPJOUMZ
SFTQPOTJCMF
GPS
TFDVSJOH
UZQF
DFSUJGJDBUJPO
8F
IBWF
SFDFJWFE
UZQF
DFSUJGJDBUJPO
JO NVMUJQMF
DPVOUSJFT
GPS
FBDI
PG
PVS
QSPEVDUT

*OEVTUSZ
8F
DPNQFUF
JO
UIF
.44
TFDUPS
PG
UIF
HMPCBM
DPNNVOJDBUJPOT
JOEVTUSZ
.44
PQFSBUPST
QSPWJEF
WPJDF
BOE
EBUB
TFSWJDFT
VTJOH B
OFUXPSL
PG
POF
PS
NPSF
TBUFMMJUFT
BOE
BTTPDJBUFE
HSPVOE
GBDJMJUJFT
.PCJMF
TBUFMMJUF
TFSWJDFT
BSF
VTVBMMZ
DPNQMFNFOUBSZ
UP
BOE JOUFSDPOOFDUFE
XJUI
PUIFS
GPSNT
PG
UFSSFTUSJBM
DPNNVOJDBUJPOT
TFSWJDFT
BOE
JOGSBTUSVDUVSF
BOE
BSF
JOUFOEFE
UP
SFTQPOE
UP
VTFST EFTJSFT
GPS
DPOOFDUJWJUZ
BU
BMM
UJNFT
BOE
MPDBUJPOT
$VTUPNFST
UZQJDBMMZ
VTF
TBUFMMJUF
WPJDF
BOE
EBUB
DPNNVOJDBUJPOT
JO
TJUVBUJPOT XIFSF
FYJTUJOH
UFSSFTUSJBM
XJSFMJOF
BOE
XJSFMFTT
DPNNVOJDBUJPOT
OFUXPSLT
BSF
JNQBJSFE
PS
EP
OPU
FYJTU
8PSMEXJEF
HPWFSONFOU
PSHBOJ[BUJPOT
NJMJUBSZ
OBUVSBM
EJTBTUFS
BJE
BTTPDJBUJPOT
FWFOUESJWFO
SFTQPOTF
BHFODJFT
BOE
DPSQPSBUF TFDVSJUZ
UFBNT
EFQFOE
PO
NPCJMF
BOE
GJYFE
WPJDF
BOE
EBUB
DPNNVOJDBUJPOT
TFSWJDFT
PO
B
SFHVMBS
CBTJT
#VTJOFTTFT
XJUI
HMPCBM PQFSBUJPOT
SFRVJSF
DPNNVOJDBUJPOT
TFSWJDFT
XIFO
PQFSBUJOH
JO
SFNPUF
MPDBUJPOT
BSPVOE
UIF
XPSME
.44
VTFST
TQBO
UIF
GPSFTUSZ NBSJUJNF
HPWFSONFOU
PJM
BOE
HBT
NJOJOH
MFJTVSF
FNFSHFODZ
TFSWJDFT
DPOTUSVDUJPO
BOE
USBOTQPSUBUJPO
TFDUPST
BNPOH
PUIFST

0WFS
UIF
QBTU
UXP
EFDBEFT
UIF
HMPCBM
.44
NBSLFU
IBT
FYQFSJFODFE
TJHOJGJDBOU
HSPXUI
*ODSFBTJOHMZ
CFUUFSUBJMPSFE
JNQSPWFE UFDIOPMPHZ
QSPEVDUT
BOE
TFSWJDFT
BSF
DSFBUJOH
OFX
DIBOOFMT
PG
EFNBOE
GPS
NPCJMF
TBUFMMJUF
TFSWJDFT
(SPXUI
JO
EFNBOE
GPS
NPCJMF TBUFMMJUF
WPJDF
TFSWJDFT
JT
ESJWFO
CZ
UIF
EFDMJOJOH
DPTU
PG
UIFTF
TFSWJDFT
UIF
EJNJOJTIJOH
TJ[F
BOE
MPXFS
DPTU
PG
UIF
IBOETFUT
BT XFMM
BT
IFJHIUFOFE
EFNBOE
CZ
HPWFSONFOUT
CVTJOFTTFT
BOE
JOEJWJEVBMT
GPS
VCJRVJUPVT
HMPCBM
WPJDF
BOE
EBUB
DPWFSBHF
(SPXUI JO
NPCJMF
TBUFMMJUF
EBUB
TFSWJDFT
JT
ESJWFO
CZ
UIF
SPMMPVU
PG
OFX
BQQMJDBUJPOT
SFRVJSJOH
IJHIFS
CBOEXJEUI
BT
XFMM
BT
MPXDPTU
EBUB DPMMFDUJPO
BOE
BTTFUUSBDLJOH
EFWJDFT
BOE
UFDIOPMPHJDBM
JNQSPWFNFOUT
QFSNJUUJOH
JOUFHSBUJPO
PG
NPCJMF
TBUFMMJUF
TFSWJDFT
PWFS TNBSUQIPOFT
BOE
PUIFS
8J'J
FOBCMFE
EFWJDFT
$PNNVOJDBUJPOT
JOEVTUSZ
TFDUPST
UIBU
BSF
SFMFWBOU
UP
PVS
CVTJOFTT
JODMVEF
d .44
XIJDI
QSPWJEF
DVTUPNFST
XJUI
DPOOFDUJWJUZ
UP
NPCJMF
BOE
GJYFE
EFWJDFT
VTJOH
B
OFUXPSL
PG
TBUFMMJUFT
BOE
HSPVOE GBDJMJUJFT d GJYFE
TBUFMMJUF
TFSWJDFT
XIJDI
VTF
HFPTUBUJPOBSZ
TBUFMMJUFT
UP
QSPWJEF
DVTUPNFST
XJUI
WPJDF
BOE
CSPBECBOE
DPNNVOJDBUJPOT MJOLT
CFUXFFO
GJYFE
QPJOUT
PO
UIF
FBSUIT
TVSGBDF
BOE d UFSSFTUSJBM
TFSWJDFT
XIJDI
VTF
B
UFSSFTUSJBM
OFUXPSL
UP
QSPWJEF
XJSFMFTT
PS
XJSFMJOF
DPOOFDUJWJUZ
BOE
BSF
DPNQMFNFOUBSZ UP
TBUFMMJUF
TFSWJDFT

8JUIJO
UIF
NBKPS
TBUFMMJUF
TFDUPST
GJYFE
BOE
.44
PQFSBUPST
EJGGFS
TJHOJGJDBOUMZ
GSPN
FBDI
PUIFS
'JYFE
TBUFMMJUF
TFSWJDFT QSPWJEFST
TVDI
BT
*OUFMTBU
-UE
&VUFMTBU
$PNNVOJDBUJPOT
BOE
4&4
4"
BOE
BQFSUVSF
UFSNJOBM
DPNQBOJFT
TVDI
BT
)VHIFT
BOE (JMBU
4BUFMMJUF
/FUXPSLT
BSF
DIBSBDUFSJ[FE
CZ
MBSHF
PGUFO
TUBUJPOBSZ
PS
GJYFE 
HSPVOE
UFSNJOBMT
UIBU
TFOE
BOE
SFDFJWF
IJHI CBOEXJEUI
TJHOBMT
UP
BOE
GSPN
UIF
TBUFMMJUF
OFUXPSL
GPS
WJEFP
BOE
IJHI
TQFFE
EBUB
DVTUPNFST
BOE
JOUFSOBUJPOBM
UFMFQIPOF
NBSLFUT 0O
UIF
PUIFS
IBOE
.44
QSPWJEFST
TVDI
BT
(MPCBMTUBS
*ONBSTBU
1-$
a*ONBSTBUb
BOE
*SJEJVN
$PNNVOJDBUJPOT
*OD
a*SJEJVNb GPDVT
NPSF
PO
WPJDF
BOE
EBUB
TFSWJDFT
JODMVEJOH
EBUB
TFSWJDFT
XIJDI
USBDL
UIF
MPDBUJPO
PG
SFNPUF
BTTFUT
TVDI
BT
TIJQQJOH
DPOUBJOFST XIFSF
NPCJMJUZ
PS
TNBMMTJ[FE
UFSNJOBMT
BSF
FTTFOUJBM
"T
NPCJMF
TBUFMMJUF
UFSNJOBMT
CFHJO
UP
PGGFS
IJHIFS
CBOEXJEUI
UP
TVQQPSU
B XJEFS
SBOHF
PG
BQQMJDBUJPOT
XF
FYQFDU
.44
PQFSBUPST
XJMM
JODSFBTJOHMZ
DPNQFUF
XJUI
GJYFE
TBUFMMJUF
TFSWJDFT
PQFSBUPST
-&0
TZTUFNT
SFEVDF
USBOTNJTTJPO
EFMBZ
DPNQBSFE
UP
B
HFPTZODISPOPVT
TZTUFN
EVF
UP
UIF
TIPSUFS
EJTUBODF
TJHOBMT
IBWF
UP USBWFM
*O
BEEJUJPO
-&0
TZTUFNT
BSF
MFTT
QSPOF
UP
TJHOBM
CMPDLBHF
BOE
DPOTFRVFOUMZ
XF
CFMJFWF
QSPWJEF
B
CFUUFS
PWFSBMM
RVBMJUZ PG
TFSWJDF
$PNQFUJUJPO
5IF
HMPCBM
DPNNVOJDBUJPOT
JOEVTUSZ
JT
IJHIMZ
DPNQFUJUJWF
8F
DVSSFOUMZ
GBDF
TVCTUBOUJBM
DPNQFUJUJPO
GSPN
PUIFS
TFSWJDF QSPWJEFST
UIBU
PGGFS
B
SBOHF
PG
NPCJMF
BOE
GJYFE
DPNNVOJDBUJPOT
PQUJPOT
0VS
NPTU
EJSFDU
DPNQFUJUJPO
DPNFT
GSPN
PUIFS
HMPCBM .44
QSPWJEFST
0VS
UXP
MBSHFTU
HMPCBM
DPNQFUJUPST
BSF
*ONBSTBU
BOE
*SJEJVN
8F
DPNQFUF
QSJNBSJMZ
PO
UIF
CBTJT
PG
DPWFSBHF RVBMJUZ
QPSUBCJMJUZ
BOE
QSJDJOH
PG
TFSWJDFT
BOE
QSPEVDUT
*O
SFDFOU
ZFBST
BEWBODFNFOUT
JO
UFDIOPMPHZ
IBWF
BMTP
FODPVSBHFE
OPO USBEJUJPOBM
DPNQBOJFT
UP
FOUFS
UIF
NBSLFU
BOE
SFRVFTU
DPOTJEFSBUJPO
GSPN
UIF
'$$
BOE
JOUFSOBUJPOBM
SFHVMBUPST
GPS
BVUIPSJUZ
UP QSPWJEF
TBUFMMJUF
DPNNVOJDBUJPO
TFSWJDFT
UISPVHI
B
WBSJFUZ
PG
DPOTUFMMBUJPOT

 *ONBSTBU
PXOT
BOE
PQFSBUFT
B
GMFFU
PG
HFPTUBUJPOBSZ
TBUFMMJUFT
%VF
UP
JUT
NVMUJQMFTBUFMMJUF
HFPTUBUJPOBSZ
TZTUFN
*ONBSTBUT DPWFSBHF
BSFB
FYUFOET
UP
BOE
DPWFST
NPTU
CPEJFT
PG
XBUFS
NPSF
DPNQMFUFMZ
UIBO
PVS
TZTUFN
"DDPSEJOHMZ
*ONBSTBU
JT
UIF
MFBEJOH QSPWJEFS
PG
TBUFMMJUF
DPNNVOJDBUJPOT
TFSWJDFT
UP
UIF
NBSJUJNF
TFDUPS
*ONBSTBU
BMTP
PGGFST
HMPCBM
MBOECBTFE
BOE
BFSPOBVUJDBM DPNNVOJDBUJPOT
TFSWJDFT
8F
DPNQFUF
XJUI
*ONBSTBU
JO
TFWFSBM
LFZ
BSFBT
QBSUJDVMBSMZ
JO
PVS
NBSJUJNF
NBSLFUT
*ONBSTBU
NBSLFUT NPCJMF
IBOETFUT
EFTJHOFE
UP
DPNQFUF
XJUI
CPUI
*SJEJVNgT
NPCJMF
IBOETFU
TFSWJDF
BOE
PVS
(41
IBOETFU
TFSWJDF
*SJEJVN
PXOT
BOE
PQFSBUFT
B
GMFFU
PG
MPX
FBSUI
PSCJU
TBUFMMJUFT
UIBU
QSPWJEF
HMPCBM
DPWFSBHF
*SJEJVN
QSPWJEFT
WPJDF
BOE
EBUB DPNNVOJDBUJPOT
UP
CVTJOFTTFT
6OJUFE
4UBUFT
BOE
GPSFJHO
HPWFSONFOUT
OPOHPWFSONFOUBM
PSHBOJ[BUJPOT
BOE
DPOTVNFST
*SJEJVN NBSLFUT
QSPEVDUT
BOE
TFSWJDFT
UIBU
BSF
TJNJMBS
UP
UIPTF
NBSLFUFE
CZ
VT
"EEJUJPOBMMZ
(BSNJOT
JO3FBDI
EFWJDFT
QSPWJEF
UXPXBZ USBDLJOH
XJUI
404
DBQBCJMJUJFT
)POFZXFMM
(MPCBM
5SBDLJOH
IBT
B
QFSTPOBM
USBDLJOH
VOJU
UIBU
FOBCMFT
B
TNBSUQIPOF
XJUI
TBUFMMJUF USBDLJOH
BOE
NFTTBHJOH
DBQBCJMJUJFT
BOE
4PNFXFBS
IBT
B
TBUFMMJUF
IPUTQPU
UIFTF
QSPEVDUT
XPSL
PO
*SJEJVNT
TBUFMMJUF
OFUXPSL
8F
DPNQFUF
XJUI
SFHJPOBM
NPCJMF
TBUFMMJUF
DPNNVOJDBUJPOT
TFSWJDFT
JO
TFWFSBM
NBSLFUT
*O
UIFTF
DBTFT
PVS
DPNQFUJUPST
TFSWF DVTUPNFST
XIP
SFRVJSF
SFHJPOBM
OPU
HMPCBM
NPCJMF
WPJDF
BOE
EBUB
TFSWJDFT
TP
PVS
DPNQFUJUPST
QSFTFOU
B
WJBCMF
BMUFSOBUJWF
UP
PVS TFSWJDFT
"MM
PG
UIFTF
DPNQFUJUPST
PQFSBUF
HFPTUBUJPOBSZ
TBUFMMJUFT
0VS
QSJODJQBM
SFHJPOBM
.44
DPNQFUJUPS
JO
UIF
.JEEMF
&BTU
BOE "GSJDB
JT
5IVSBZB

*O
TPNF
PG
PVS
NBSLFUT
TVDI
BT
SVSBM
UFMFQIPOZ
XF
DPNQFUF
EJSFDUMZ
PS
JOEJSFDUMZ
XJUI
WFSZ
TNBMM
BQFSUVSF
UFSNJOBM
a74"5b PQFSBUPST
UIBU
PGGFS
DPNNVOJDBUJPOT
TFSWJDFT
UISPVHI
QSJWBUF
OFUXPSLT
VTJOH
WFSZ
TNBMM
BQFSUVSF
UFSNJOBMT
PS
IZCSJE
TZTUFNT
UP UBSHFU
CVTJOFTT
VTFST
74"5
PQFSBUPST
IBWF
CFDPNF
JODSFBTJOHMZ
DPNQFUJUJWF
EVF
UP
UFDIOPMPHJDBM
BEWBODFT
UIBU
IBWF
SFTVMUFE
JO TNBMMFS
NPSF
GMFYJCMF
BOE
DIFBQFS
UFSNJOBMT
8F
DPNQFUF
JOEJSFDUMZ
XJUI
UFSSFTUSJBM
XJSFMJOF
aMBOEMJOFb
BOE
XJSFMFTT
DPNNVOJDBUJPOT
OFUXPSLT
8F
QSPWJEF
TFSWJDF
JO BSFBT
UIBU
BSF
JOBEFRVBUFMZ
DPWFSFE
CZ
UIFTF
HSPVOE
TZTUFNT
5P
UIF
FYUFOU
UIBU
UFSSFTUSJBM
DPNNVOJDBUJPOT
DPNQBOJFT
JOWFTU
JO VOEFSEFWFMPQFE
BSFBT
XF
XJMM
GBDF
JODSFBTFE
DPNQFUJUJPO
JO
UIPTF
BSFBT

0VS
4105
QSPEVDUT
DPNQFUF
JOEJSFDUMZ
XJUI
1FSTPOBM
-PDBUPS
#FBDPOT
a1-#bT 
"
WBSJFUZ
PG
NBOVGBDUVSFST
PGGFS
1-#T
UP JOEVTUSZ
TQFDJGJDBUJPOT

0VS
JOEVTUSZ
IBT
TJHOJGJDBOU
CBSSJFST
UP
FOUSZ
JODMVEJOH
UIF
DPTU
BOE
EJGGJDVMUZ
BTTPDJBUFE
XJUI
PCUBJOJOH
TQFDUSVN
MJDFOTFT BOE
TVDDFTTGVMMZ
CVJMEJOH
BOE
MBVODIJOH
B
TBUFMMJUF
OFUXPSL
*O
BEEJUJPO
UP
DPTU
UIFSF
JT
B
TJHOJGJDBOU
BNPVOU
PG
MFBEUJNF
BTTPDJBUFE XJUI
PCUBJOJOH
UIF
SFRVJSFE
MJDFOTFT
EFTJHOJOH
BOE
CVJMEJOH
UIF
TBUFMMJUF
DPOTUFMMBUJPO
BOE
TZODISPOJ[JOH
UIF
OFUXPSL
UFDIOPMPHZ
6OJUFE
4UBUFT
*OUFSOBUJPOBM
5SBGGJD
JO
"SNT
3FHVMBUJPOT
BOE
6OJUFE
4UBUFT
&YQPSU
"ENJOJTUSBUJPO
3FHVMBUJPOT

5IF
6OJUFE
4UBUFT
*OUFSOBUJPOBM
5SBGGJD
JO
"SNT
SFHVMBUJPOT
VOEFS
UIF
6OJUFE
4UBUFT
"SNT
&YQPSU
$POUSPM
"DU
BVUIPSJ[F
UIF 1SFTJEFOU
PG
UIF
6OJUFE
4UBUFT
UP
DPOUSPM
UIF
FYQPSU
BOE
JNQPSU
PG
BSUJDMFT
BOE
TFSWJDFT
UIBU
DBO
CF
VTFE
JO
UIF
QSPEVDUJPO
PG
BSNT 5IF
1SFTJEFOU
IBT
EFMFHBUFE
UIJT
BVUIPSJUZ
UP
UIF
64
%FQBSUNFOU
PG
4UBUF
%JSFDUPSBUF
PG
%FGFOTF
5SBEF
$POUSPMT
6OJUFE
4UBUFT &YQPSU
"ENJOJTUSBUJPO
3FHVMBUJPOT
FOGPSDFE
CZ
UIF
6OJUFE
4UBUFT
#VSFBV
PG
*OEVTUSZ
BOE
4FDVSJUZ
BT
XFMM
BT
SFHVMBUJPOT
FOGPSDFE CZ
UIF
6OJUFE
4UBUFT
0GGJDF
PG
'PSFJHO
"TTFUT
$POUSPM
SFHVMBUF
UIF
FYQPSU
PG
DFSUBJO
QSPEVDUT
TFSWJDFT
BOE
BTTPDJBUFE
UFDIOJDBM EBUB
"NPOH
PUIFS
UIJOHT
UIFTF
SFHVMBUJPOT
MJNJU
UIF
BCJMJUZ
UP
FYQPSU
DFSUBJO
BSUJDMFT
BOE
SFMBUFE
UFDIOJDBM
EBUB
UP
DFSUBJO
OBUJPOT 4PNF
JOGPSNBUJPO
JOWPMWFE
JO
UIF
QFSGPSNBODF
PG
PVS
PQFSBUJPOT
GBMMT
XJUIJO
UIF
TDPQF
PG
UIFTF
SFHVMBUJPOT
"T
B
SFTVMU
XF
NBZ IBWF
UP
PCUBJO
BO
FYQPSU
BVUIPSJ[BUJPO
PS
SFTUSJDU
BDDFTT
UP
UIBU
JOGPSNBUJPO
CZ
JOUFSOBUJPOBM
DPNQBOJFT
UIBU
BSF
PVS
WFOEPST
PS TFSWJDF
QSPWJEFST
8F
IBWF
SFDFJWFE
BOE
FYQFDU
UP
DPOUJOVF
UP
SFDFJWF
FYQPSU
MJDFOTFT
GPS
DPWFSFE
BSUJDMFT
BOE
UFDIOJDBM
EBUB
TIBSFE XJUI
BQQSPWFE
QBSUJFT
PVUTJEF
UIF
6OJUFE
4UBUFT
8F
BMTP
BSF
TVCKFDU
UP
SFTUSJDUJPOT
SFMBUFE
UP
USBOTBDUJPOT
XJUI
QFSTPOT
TVCKFDU
UP 6OJUFE
4UBUFT
PS
GPSFJHO
TBODUJPOT
5IFTF
SFHVMBUJPOT
FOGPSDFE
CZ
UIF
6OJUFE
4UBUFT
0GGJDF
PG
'PSFJHO
"TTFUT
$POUSPM
MJNJU
PVS BCJMJUZ
UP
PGGFS
TFSWJDFT
BOE
FRVJQNFOU
UP
DFSUBJO
QBSUJFT
PS
JO
DFSUBJO
BSFBT
&OWJSPONFOUBM
.BUUFST
8F
BSF
TVCKFDU
UP
WBSJPVT
MBXT
BOE
SFHVMBUJPOT
SFMBUJOH
UP
UIF
QSPUFDUJPO
PG
UIF
FOWJSPONFOU
BOE
IVNBO
IFBMUI
BOE
TBGFUZ JODMVEJOH
UIPTF
HPWFSOJOH
UIF
NBOBHFNFOU
TUPSBHF
BOE
EJTQPTBM
PG
IB[BSEPVT
NBUFSJBMT 
4PNF
PG
PVS
PQFSBUJPOT
SFRVJSF DPOUJOVPVT
QPXFS
TVQQMZ
"T
B
SFTVMU
DVSSFOU
BOE
IJTUPSJDBM
PQFSBUJPOT
BU
PVS
HSPVOE
GBDJMJUJFT
JODMVEJOH
PVS
HBUFXBZT
JODMVEF TUPSJOH
GVFMT
BOE
CBUUFSJFT
XIJDI
NBZ
DPOUBJO
IB[BSEPVT
NBUFSJBMT
UP
QPXFS
CBDLVQ
HFOFSBUPST
"T
BO
PXOFS
PS
PQFSBUPS
PG QSPQFSUZ
BOE
JO
DPOOFDUJPO
XJUI
PVS
DVSSFOU
BOE
IJTUPSJDBM
PQFSBUJPOT
XF
DPVME
JODVS
TJHOJGJDBOU
DPTUT
JODMVEJOH
DMFBOVQ
DPTUT GJOFT
TBODUJPOT
BOE
UIJSEQBSUZ
DMBJNT
BT
B
SFTVMU
PG
WJPMBUJPOT
PG
PS
JO
DPOOFDUJPO
XJUI
MJBCJMJUJFT
VOEFS
FOWJSPONFOUBM
MBXT
BOE SFHVMBUJPOT

 'PSFJHO
0QFSBUJPOT
8F
TVQQMZ
TFSWJDFT
BOE
QSPEVDUT
UP
B
OVNCFS
PG
GPSFJHO
DVTUPNFST
"MUIPVHI
NPTU
PG
PVS
TBMFT
BSF
EFOPNJOBUFE
JO
64 EPMMBST
XF
BSF
FYQPTFE
UP
DVSSFODZ
SJTL
GPS
TBMFT
JO
$BOBEB
&VSPQF
#SB[JM
BOE
WBSJPVT
PUIFS
DPVOUSJFT
*O

BQQSPYJNBUFMZ 
PG
PVS
TBMFT
XFSF
HFOFSBUFE
JO
GPSFJHO
DPVOUSJFT
XIJDI
HFOFSBMMZ
BSF
EFOPNJOBUFE
JO
MPDBM
DVSSFODJFT
4FF
/PUF

3FWFOVF JO
UIF
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
GPS
BEEJUJPOBM
JOGPSNBUJPO
SFHBSEJOH
SFWFOVF
CZ
DPVOUSZ
'PS
NPSF
JOGPSNBUJPO
BCPVU PVS
FYQPTVSF
UP
SJTLT
SFMBUFE
UP
GPSFJHO
MPDBUJPOT
TFF
*UFN
"
3JTL
'BDUPST

8F
GBDF
TQFDJBM
SJTLT
CZ
EPJOH
CVTJOFTT
JO
JOUFSOBUJPOBM NBSLFUT
BOE
EFWFMPQJOH
NBSLFUT
JODMVEJOH
DVSSFODZ
BOE
FYQSPQSJBUJPO
SJTLT
XIJDI
DPVME
JODSFBTF
PVS
DPTUT
PS
SFEVDF
PVS
SFWFOVFT JO
UIFTF
BSFBT
*OUFMMFDUVBM
1SPQFSUZ
8F
IPME
WBSJPVT
64
BOE
GPSFJHO
QBUFOUT
BOE
QBUFOUT
QFOEJOH
UIBU
FYQJSF
CFUXFFO

BOE

5IFTF
QBUFOUT
DPWFS
NBOZ BTQFDUT
PG
PVS
TBUFMMJUF
TZTUFN
PVS
HMPCBM
OFUXPSL
BOE
PVS
VTFS
UFSNJOBMT
*O
SFDFOU
ZFBST
XF
IBWF
SFEVDFE
PVS
GPSFJHO
GJMJOHT
BOE EFDJEFE
UP
BMMPX
TPNF
QSFWJPVTMZ
HSBOUFE
GPSFJHO
QBUFOUT
UP
MBQTF
CBTFE
PO
B
UIF
SFMBUJWF
TJHOJGJDBODF
PG
UIF
QBUFOU
C
PVS BTTFTTNFOU
PG
UIF
MJLFMJIPPE
UIBU
TPNFPOF
XPVME
JOGSJOHF
JO
UIF
GPSFJHO
DPVOUSZ
BOE
D
UIF
QSPCBCJMJUZ
UIBU
XF
DPVME
PS
XPVME FOGPSDF
UIF
QBUFOU
JO
MJHIU
PG
UIF
FYQFOTF
PG
GJMJOH
BOE
NBJOUBJOJOH
UIF
GPSFJHO
QBUFOU
XIJDI
JO
TPNF
DPVOUSJFT
JT
RVJUF
TVCTUBOUJBM 8F
DPOUJOVF
UP
NBJOUBJO
BMM
PG
UIF
QBUFOUT
JO
UIF
6OJUFE
4UBUFT
$BOBEB
BOE
&VSPQF
UIBU
XF
CFMJFWF
BSF
JNQPSUBOU
UP
PVS
CVTJOFTT 0VS
JOUFMMFDUVBM
QSPQFSUZ
JT
QMFEHFE
BT
TFDVSJUZ
GPS
PVS
PCMJHBUJPOT
VOEFS
PVS
TFOJPS
TFDVSFE
DSFEJU
GBDJMJUZ
BHSFFNFOU
UIF
a'BDJMJUZ "HSFFNFOUb
BOE
TFDPOE
MJFO
DSFEJU
GBDJMJUZ
BHSFFNFOU
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ 
&NQMPZFFT
"T
PG
%FDFNCFS


XF
IBE

FNQMPZFFT

PG
XIPN
XFSF
MPDBUFE
JO
#SB[JM
BOE
TVCKFDU
UP
DPMMFDUJWF
CBSHBJOJOH BHSFFNFOUT
8F
DPOTJEFS
PVS
SFMBUJPOTIJQ
XJUI
PVS
FNQMPZFFT
UP
CF
HPPE
4FBTPOBMJUZ
6TBHF
PO
UIF
OFUXPSL
BOE
UP
TPNF
FYUFOU
TBMFT
BSF
TVCKFDU
UP
TFBTPOBM
BOE
TJUVBUJPOBM
DIBOHFT
"QSJM
UISPVHI
0DUPCFS
BSF UZQJDBMMZ
PVS
QFBL
NPOUIT
GPS
TFSWJDF
SFWFOVFT
BOE
FRVJQNFOU
TBMFT
8F
BMTP
FYQFSJFODF
FWFOUESJWFO
SFWFOVF
GMVDUVBUJPOT
JO
PVS CVTJOFTT
.PTU
OPUBCMZ
FNFSHFODJFT
OBUVSBM
EJTBTUFST
BOE
PUIFS
TJ[BCMF
QSPKFDUT
XIFSF
TBUFMMJUFCBTFE
DPNNVOJDBUJPOT
EFWJDFT BSF
UIF
POMZ
TPMVUJPO
NBZ
HFOFSBUF
BO
JODSFBTF
JO
SFWFOVF
*O
UIF
DPOTVNFS
BSFB
4105
EFWJDFT
TBMFT
BSF
JOGMVFODFE
CZ
PVUEPPS BOE
MFJTVSF
BDUJWJUZ
PQQPSUVOJUJFT
BT
XFMM
BT
PVS
QSPNPUJPOBM
FGGPSUT

4FSWJDFT
BOE
&RVJQNFOU
4BMFT
PG
TFSWJDFT
BDDPVOUFE
GPS
BQQSPYJNBUFMZ


BOE

PG
PVS
UPUBM
SFWFOVFT
GPS


BOE

SFTQFDUJWFMZ 8F
BMTP
TFMM
UIF
SFMBUFE
WPJDF
BOE
EBUB
FRVJQNFOU
UP
PVS
DVTUPNFST
XIJDI
BDDPVOUFE
GPS
BQQSPYJNBUFMZ


BOE

PG PVS
UPUBM
SFWFOVFT
GPS


BOE

SFTQFDUJWFMZ
"EEJUJPOBM
*OGPSNBUJPO

8F
GJMF
BOOVBM
RVBSUFSMZ
BOE
DVSSFOU
SFQPSUT
QSPYZ
TUBUFNFOUT
BOE
PUIFS
JOGPSNBUJPO
XJUI
UIF
4FDVSJUJFT
BOE
&YDIBOHF $PNNJTTJPO
UIF
a4&$b 
5IF
4&$
NBJOUBJOT
BO
JOUFSOFU
TJUF
UIBU
DPOUBJOT
BOOVBM
RVBSUFSMZ
BOE
DVSSFOU
SFQPSUT
QSPYZ
BOE JOGPSNBUJPO
TUBUFNFOUT
BOE
PUIFS
JOGPSNBUJPO
UIBU
JTTVFST
JODMVEJOH
(MPCBMTUBS
GJMF
FMFDUSPOJDBMMZ
XJUI
UIF
4&$
0VS
FMFDUSPOJD 4&$
GJMJOHT
BSF
BWBJMBCMF
UP
UIF
QVCMJD
BU
UIF
4&$T
JOUFSOFU
TJUF
XXXTFDHPW

8F
NBLF
BWBJMBCMF
GSFF
PG
DIBSHF
GJOBODJBM
JOGPSNBUJPO
OFXT
SFMFBTFT
4&$
GJMJOHT
JODMVEJOH
PVS
BOOVBM
SFQPSU
PO
'PSN
 ,
RVBSUFSMZ
SFQPSUT
PO
'PSN
2
DVSSFOU
SFQPSUT
PO
'PSN
,
BOE
BNFOENFOUT
UP
UIFTF
SFQPSUT
PO
PVS
XFCTJUF
BU XXXHMPCBMTUBSDPN
BT
TPPO
BT
SFBTPOBCMZ
QSBDUJDBM
BGUFS
XF
FMFDUSPOJDBMMZ
GJMF
TVDI
NBUFSJBM
XJUI
PS
GVSOJTI
JU
UP
UIF
4&$
5IF EPDVNFOUT
BWBJMBCMF
PO
BOE
UIF
DPOUFOUT
PG
PVS
XFCTJUF
BSF
OPU
JODPSQPSBUFE
CZ
SFGFSFODF
JOUP
UIJT
3FQPSU
*UFN
"
3JTL
'BDUPST
:PV
TIPVME
DBSFGVMMZ
DPOTJEFS
UIF
SJTLT
EFTDSJCFE
CFMPX
BT
XFMM
BT
BMM
PG
UIF
JOGPSNBUJPO
JO
UIJT
3FQPSU
BOE
BMM
PG
UIF
PUIFS SFQPSUT
XF
GJMF
GSPN
UJNF
UP
UJNF
XJUI
UIF
4&$
JO
FWBMVBUJOH
BOE
VOEFSTUBOEJOH
VT
BOE
PVS
CVTJOFTT
"EEJUJPOBM
SJTLT
OPU
QSFTFOUMZ LOPXO
PS
UIBU
XF
DVSSFOUMZ
EFFN
JNNBUFSJBM
NBZ
BMTP
JNQBDU
PVS
CVTJOFTT
PQFSBUJPOT
BOE
UIF
SJTLT
JEFOUJGJFE
JO
UIJT
3FQPSU
NBZ BEWFSTFMZ
BGGFDU
PVS
CVTJOFTT
JO
XBZT
XF
EP
OPU
DVSSFOUMZ
BOUJDJQBUF
0VS
CVTJOFTT
GJOBODJBM
DPOEJUJPO
PS
SFTVMUT
PG
PQFSBUJPOT DPVME
CF
NBUFSJBMMZ
BEWFSTFMZ
BGGFDUFE
CZ
BOZ
PG
UIFTF
SJTLT

 3JTLT
3FMBUFE
UP
0VS
#VTJOFTT
5IF
JNQMFNFOUBUJPO
PG
PVS
CVTJOFTT
QMBO
BOE
PVS
BCJMJUZ
UP
HFOFSBUF
JODPNF
GSPN
PQFSBUJPOT
BTTVNF
XF
BSF
BCMF
UP
NBJOUBJO B
IFBMUIZ
DPOTUFMMBUJPO
BOE
HSPVOE
OFUXPSL
DBQBCMF
PG
QSPWJEJOH
DPNNFSDJBMMZ
BDDFQUBCMF
MFWFMT
PG
DPWFSBHF
BOE
TFSWJDF RVBMJUZ
XIJDI
BSF
DPOUJOHFOU
PO
B
OVNCFS
PG
GBDUPST 0VS
QSPEVDUT
BOE
TFSWJDFT
BSF
TVCKFDU
UP
UIF
SJTLT
JOIFSFOU
JO
SFMZJOH
PO
B
MBSHFTDBMF
DPNQMFY
UFMFDPNNVOJDBUJPOT
TZTUFN FNQMPZJOH
BEWBODFE
UFDIOPMPHZ
"OZ
EJTSVQUJPO
UP
PVS
TBUFMMJUFT
TFSWJDFT
JOGPSNBUJPO
TZTUFNT
PS
UFMFDPNNVOJDBUJPOT JOGSBTUSVDUVSF
DPVME
SFTVMU
JO
EFHSBEJOH
PS
EJTSVQUJOH
TFSWJDFT
UP
PVS
DVTUPNFST
GPS
BO
JOEFUFSNJOBUF
QFSJPE
PG
UJNF
4JODF
XF
MBVODIFE
PVS
GJSTU
TBUFMMJUFT
JO
UIF
gT
NPTU
PG
PVS
GJSTUHFOFSBUJPO
TBUFMMJUFT
IBWF
CFFO
SFUJSFE
PS
IBWF
GBJMFE
JO PSCJU
BOE
XF
FYQFDU
UIF
SFNBJOJOH
GJSTUHFOFSBUJPO
TBUFMMJUFT
UP
CF
SFUJSFE
PS
GBJM
JO
UIF
GVUVSF
"MUIPVHI
XF
EFTJHOFE
PVS
TFDPOE HFOFSBUJPO
TBUFMMJUFT
UP
QSPWJEF
DPNNFSDJBM
TFSWJDF
PWFS
B
ZFBS
MJGF
XF
DBO
QSPWJEF
OP
BTTVSBODF
BT
UP
XIFUIFS
BOZ
PS
BMM
PG UIFN
XJMM
DPOUJOVF
JO
PQFSBUJPO
GPS
UIFJS
GVMM
ZFBS
EFTJHO
MJGF
4BUFMMJUFT
VUJMJ[F
IJHIMZ
DPNQMFY
UFDIOPMPHZ
BOE
PQFSBUF
JO
UIF IBSTI
FOWJSPONFOU
PG
TQBDF
BOE
UIFSFGPSF
BSF
TVCKFDU
UP
TJHOJGJDBOU
PQFSBUJPOBM
SJTLT
XIJMF
JO
PSCJU
'VSUIFS
PVS
TBUFMMJUFT
NBZ
FYQFSJFODF
UFNQPSBSZ
PVUBHFT
PS
PUIFSXJTF
NBZ
OPU
CF
GVMMZ
GVODUJPOJOH
BU
BOZ
HJWFO
UJNF
5IFSF BSF
TPNF
SFNPUF
UPPMT
XF
VTF
UP
SFNFEZ
DFSUBJO
UZQFT
PG
QSPCMFNT
BGGFDUJOH
UIF
QFSGPSNBODF
PG
PVS
TBUFMMJUFT
CVU
UIF
QIZTJDBM SFQBJS
PG
TBUFMMJUFT
JO
TQBDF
JT
OPU
GFBTJCMF
8F
EP
OPU
JOTVSF
PVS
TBUFMMJUFT
BHBJOTU
JOPSCJU
GBJMVSFT
BGUFS
BO
JOJUJBM
QFSJPE
PG
TJY NPOUIT
XIFUIFS
UIF
GBJMVSFT
BSF
DBVTFE
CZ
JOUFSOBM
PS
FYUFSOBM
GBDUPST
*OPSCJU
GBJMVSF
NBZ
SFTVMU
GSPN
WBSJPVT
DBVTFT
JODMVEJOH DPNQPOFOU
GBJMVSF
TPMBS
BSSBZ
GBJMVSFT
UFMFNFUSZ
USBOTNJUUFS
GBJMVSFT
MPTT
PG
QPXFS
PS
GVFM
JOBCJMJUZ
UP
DPOUSPM
QPTJUJPOJOH
PG
UIF TBUFMMJUF
TPMBS
PS
PUIFS
BTUSPOPNJDBM
FWFOUT
JODMVEJOH
TPMBS
SBEJBUJPO
BOE
GMBSFT
BOE
DPMMJTJPO
XJUI
TQBDF
EFCSJT
PS
PUIFS
TBUFMMJUFT 5IFTF
GBJMVSFT
BSF
DPNNPOMZ
SFGFSSFE
UP
BT
BOPNBMJFT
4PNF
PG
PVS
TBUFMMJUFT
IBWF
IBE
NBMGVODUJPOT
BOE
PUIFS
BOPNBMJFT
JO
UIF QBTU
BOE
NBZ
IBWF
BOPNBMJFT
JO
UIF
GVUVSF
'VSUIFS
GSPN
UJNF
UP
UJNF
XF
NPWF
BOE
SFMPDBUF
TBUFMMJUFT
XJUIJO
PVS
DPOTUFMMBUJPO
UP JNQSPWF
DPWFSBHF
BOE
TFSWJDF
RVBMJUZ
4BUFMMJUF
SFQPTJUJPOJOH
NBZ
JODSFBTF
UIF
SJTL
PG
DPMMJTJPO
PS
EBNBHF
UP
PVS
TBUFMMJUFT
BOE
NBZ SFTVMU
JO
EFHSBEFE
TFSWJDF
EVSJOH
UIF
SFQPTJUJPOJOH
"MUIPVHI
XF
EP
OPU
JODVS
BOZ
EJSFDU
DBTI
DPTUT
SFMBUFE
UP
UIF
GBJMVSF
PG
B
TBUFMMJUF JG
B
TBUFMMJUF
GBJMT
XF
SFDPSE
BO
JNQBJSNFOU
DIBSHF
JO
PVS
TUBUFNFOU
PG
PQFSBUJPOT
UP
SFEVDF
UIF
SFNBJOJOH
OFU
CPPL
WBMVF
PG
UIBU TBUFMMJUF
JG
BOZ
UP
[FSP
BOE
BOZ
TVDI
JNQBJSNFOU
DIBSHFT
DPVME
EFQSFTT
PVS
OFU
JODPNF
PS
JODSFBTF
PVS
OFU
MPTT
GPS
UIF
QFSJPE JO
XIJDI
UIF
GBJMVSF
PDDVST
"EEJUJPOBMMZ
IVNBO
PQFSBUPST
NBZ
FYFDVUF
JNQSPQFS
JNQMFNFOUBUJPO
DPNNBOET
UIBU
NBZ
OFHBUJWFMZ JNQBDU
B
TBUFMMJUFT
QFSGPSNBODF 1SJPS
UP

PVS
BCJMJUZ
UP
HFOFSBUF
SFWFOVF
BOE
DBTI
GMPX
XBT
JNQBDUFE
BEWFSTFMZ
CZ
PVS
JOBCJMJUZ
UP
PGGFS
DPNNFSDJBMMZ BDDFQUBCMF
MFWFMT
PG
%VQMFY
TFSWJDF
EVF
UP
UIF
EFHSBEBUJPO
PG
PVS
GJSTUHFOFSBUJPO
DPOTUFMMBUJPO
"T
B
SFTVMU
XF
JNQSPWFE
UIF
EFTJHO PG
PVS
TFDPOEHFOFSBUJPO
DPOTUFMMBUJPO
UP
MBTU
UXJDF
BT
MPOH
JO
TQBDF
BOE
IBWF

HSFBUFS
DBQBDJUZ
DPNQBSFE
UP
PVS
GJSTUHFOFSBUJPO DPOTUFMMBUJPO
%FTQJUF
XPSLJOH
DMPTFMZ
XJUI
TBUFMMJUF
NBOVGBDUVSFST
UP
EFUFSNJOF
UIF
DBVTFT
PG
BOPNBMJFT
BOE
NJUJHBUF
UIFN
JO TFDPOEHFOFSBUJPO
TBUFMMJUFT
BOE
UP
QSPWJEF
GPS
JOUSBTBUFMMJUF
SFEVOEBODJFT
GPS
DFSUBJO
DSJUJDBM
DPNQPOFOUT
UP
NJOJNJ[F
PS
FMJNJOBUF TFSWJDF
EJTSVQUJPOT
JO
UIF
FWFOU
PG
GBJMVSF
BOPNBMJFT
BSF
MJLFMZ
UP
CF
FYQFSJFODFE
JO
UIF
GVUVSF
XIFUIFS
EVF
UP
UIF
UZQFT
PG
BOPNBMJFT EFTDSJCFE
BCPWF
PS
BSJTJOH
GSPN
UIF
GBJMVSF
PG
PUIFS
TZTUFNT
PS
DPNQPOFOUT
BOE
JOUSBTBUFMMJUF
SFEVOEBODZ
NBZ
OPU
CF
BWBJMBCMF VQPO
UIF
PDDVSSFODF
PG
TVDI
BOPNBMJFT
5IFSF
DBO
CF
OP
BTTVSBODF
UIBU
JO
UIFTF
DBTFT
JU
XJMM
CF
QPTTJCMF
UP
SFTUPSF
OPSNBM
PQFSBUJPOT 8IFSF
TFSWJDF
DBOOPU
CF
SFTUPSFE
UIF
GBJMVSF
DPVME
DBVTF
UIF
TBUFMMJUF
UP
IBWF
MFTT
DBQBDJUZ
BWBJMBCMF
GPS
TFSWJDF
UP
TVGGFS
QFSGPSNBODF EFHSBEBUJPO
PS
UP
DFBTF
PQFSBUJOH
QSFNBUVSFMZ
FJUIFS
JO
XIPMF
PS
JO
QBSU
8F
DBOOPU
HVBSBOUFF
UIBU
XF
DPVME
TVDDFTTGVMMZ
EFWFMPQ BOE
JNQMFNFOU
B
TPMVUJPO
UP
UIFTF
BOPNBMJFT
*O
PSEFS
UP
NBJOUBJO
DPNNFSDJBMMZ
BDDFQUBCMF
TFSWJDF
MPOHUFSN
XF
NVTU
PCUBJO
BOE
MBVODI
BEEJUJPOBM
TBUFMMJUFT
GSPN
UJNF UP
UJNF
8F
DBOOPU
QSPWJEF
BOZ
BTTVSBODF
UIBU
OFHPUJBUJPOT
XJUI
TBUFMMJUF
NBOVGBDUVSFST
XJMM
CF
TVDDFTTGVM
PS
BU
DPNNFSDJBMMZ SFBTPOBCMF
QSJDFT 0VS
HSPVOE
TUBUJPOT
SFRVJSFE
VQHSBEFT
UP
FOBCMF
VT
UP
JOUFHSBUF
PVS
TFDPOEHFOFSBUJPO
UFDIOPMPHZ
BOE
TFSWJDFT
8F
FOUFSFE JOUP
WBSJPVT
DPOUSBDUT
UP
VQHSBEF
PVS
HSPVOE
OFUXPSL
%VSJOH

XF
DPNQMFUFE
UIJT
XPSL
BDDPSEJOH
UP
UIF
)VHIFT
BOE
&SJDTTPO DPOUSBDUT
*O
DPOOFDUJPO
XJUI
UIF

MBVODI
PG
4BU'J
e
UIF
GJSTU
EFWJDF
UP
PQFSBUF
PO
PVS
VQHSBEFE
HSPVOE
OFUXPSL
XF
QMBDFE JOUP
TFSWJDF
UIF
QPSUJPO
PG
UIF
OFYUHFOFSBUJPO
HSPVOE
DPNQPOFOU
JODMVEJOH
BTTPDJBUFE
EFWFMPQFE
UFDIOPMPHZ
BOE
TPGUXBSF VQHSBEFT
XIJDI
SFQSFTFOUFE
UIF
HBUFXBZT
DBQBCMF
PG
TVQQPSUJOH
DPNNFSDJBM
USBGGJD
BU
UIBU
UJNF
$FSUBJO
PUIFS
HBUFXBZT
BSPVOE UIF
XPSME
IBWF
TJODF
CFFO
QMBDFE
JOUP
TFSWJDF
BOE
PUIFST
BSF
FYQFDUFE
UP
CF
QMBDFE
JOUP
TFSWJDF
JO
UIF
DPNJOH
NPOUIT
5IF
JOTUBMMBUJPO PG
3"/T
BU
BEEJUJPOBM
TJUFT
PVUTJEF
UIF
TDPQF
PG
UIF
DPSF
)VHIFT
DPOUSBDU
XJMM
PDDVS
PWFS
UJNF
BOE
UIF
DPNQMFUJPO
PG
UIFTF
VQHSBEFT NBZ
OPU
CF
TVDDFTTGVM

 *G
XF
FYQFSJFODF
PQFSBUJPOBM
EJTSVQUJPOT
XJUI
SFTQFDU
UP
PVS
HBUFXBZT
PS
PQFSBUJPOT
DFOUFS
XF
NBZ
OPU
CF
BCMF
UP
QSPWJEF TFSWJDF
UP
PVS
DVTUPNFST 0VS
TBUFMMJUF
OFUXPSL
USBGGJD
JT
TVQQPSUFE
CZ

HBUFXBZT
EJTUSJCVUFE
BSPVOE
UIF
HMPCF
8F
PQFSBUF
PVS
TBUFMMJUF
DPOTUFMMBUJPO GSPN
PVS
/FUXPSL
0QFSBUJPOT
$POUSPM
$FOUFST
BU
UISFF
MPDBUJPOT
'SBODF
$BMJGPSOJB
BOE
-PVJTJBOB
UP
QSPWJEF
HFPSFEVOEBODZ BOE
POHPJOH
DPWFSBHF
0VS
HBUFXBZ
GBDJMJUJFT
BSF
TVCKFDU
UP
UIF
SJTL
PG
TJHOJGJDBOU
NBMGVODUJPOT
PS
DBUBTUSPQIJD
MPTT
EVF
UP VOBOUJDJQBUFE
FWFOUT
BOE
XPVME
CF
EJGGJDVMU
UP
SFQMBDF
PS
SFQBJS
BOE
DPVME
SFRVJSF
TVCTUBOUJBM
MFBEUJNF
UP
EP
TP
*O
/PSUI
"NFSJDB XF
IBWF
JNQMFNFOUFE
DPOUJOHFODZ
DPWFSBHF
XIJDI
BMMPXT
OFJHICPSJOH
HBUFXBZT
UP
QSPWJEF
TFSWJDFT
JO
UIF
FWFOU
PG
B
HBUFXBZ GBJMVSF
.BUFSJBM
DIBOHFT
JO
UIF
PQFSBUJPO
PG
UIFTF
GBDJMJUJFT
NBZ
CF
TVCKFDU
UP
QSJPS
'$$
BQQSPWBM
BOE
UIF
'$$
NJHIU
OPU
HJWF TVDI
BQQSPWBM
PS
NBZ
TVCKFDU
UIF
BQQSPWBM
UP
PUIFS
DPOEJUJPOT
UIBU
DPVME
CF
VOGBWPSBCMF
UP
PVS
CVTJOFTT
0VS
HBUFXBZT
BOE
PQFSBUJPOT DFOUFST
NBZ
BMTP
FYQFSJFODF
TFSWJDF
TIVUEPXOT
PS
QFSJPET
PG
SFEVDFE
TFSWJDF
JO
UIF
GVUVSF
BT
B
SFTVMU
PG
FRVJQNFOU
GBJMVSF
EFMBZT JO
EFMJWFSJFT
PS
SFHVMBUPSZ
JTTVFT
"OZ
TVDI
GBJMVSF
XPVME
JNQFEF
PVS
BCJMJUZ
UP
QSPWJEF
TFSWJDF
UP
PVS
DVTUPNFST
XIJDI
DPVME
IBWF B
NBUFSJBM
JNQBDU
PO
PVS
CVTJOFTT 5IF
BDUVBM
PSCJUBM
MJWFT
PG
PVS
TBUFMMJUFT
NBZ
CF
TIPSUFS
UIBO
XF
BOUJDJQBUF
BOE
XF
NBZ
CF
SFRVJSFE
UP
SFEVDF
BWBJMBCMF DBQBDJUZ
PO
PVS
TBUFMMJUF
OFUXPSL
QSJPS
UP
UIF
FOE
PG
UIFJS
PSCJUBM
MJWFT 8F
BOUJDJQBUF
UIBU
PVS
TFDPOEHFOFSBUJPO
TBUFMMJUFT
XJMM
IBWF

ZFBS
PSCJUBM
MJWFT
"
OVNCFS
PG
GBDUPST
XJMM
BGGFDU
UIF
BDUVBM DPNNFSDJBM
TFSWJDF
MJWFT
PG
FBDI
TBUFMMJUF
JODMVEJOH d UIF
BNPVOU
PG
QSPQFMMBOU
VTFE
JO
NBJOUBJOJOH
UIF
TBUFMMJUFT
PSCJUBM
MPDBUJPO
PS
SFMPDBUJOH
UIF
TBUFMMJUF
UP
B
OFX
PSCJUBM MPDBUJPO
BOE
GPS
B
OFXMZMBVODIFE
TBUFMMJUF
UIF
BNPVOU
PG
QSPQFMMBOU
VTFE
EVSJOH
PSCJU
SBJTJOH
GPMMPXJOH
MBVODI 
d UIF
EVSBCJMJUZ
BOE
RVBMJUZ
PG
JUT
DPOTUSVDUJPO
d UIF
QFSGPSNBODF
PG
JUT
DPNQPOFOUT
d IB[BSET
BOE
DPOEJUJPOT
JO
TQBDF
TVDI
BT
TPMBS
GMBSFT
BOE
TQBDF
EFCSJT d PQFSBUJPOBM
DPOTJEFSBUJPOT
JODMVEJOH
PQFSBUJPOBM
GBJMVSFT
BOE
PUIFS
BOPNBMJFT
BOE
d DIBOHFT
JO
UFDIOPMPHZ
XIJDI
NBZ
NBLF
BMM
PS
B
QPSUJPO
PG
PVS
TBUFMMJUF
GMFFU
PCTPMFUF *U
JT
QPTTJCMF
UIBU
UIF
BDUVBM
PSCJUBM
MJWFT
PG
POF
PS
NPSF
PG
PVS
FYJTUJOH
TBUFMMJUFT
NBZ
BMTP
CF
TIPSUFS
UIBO
PSJHJOBMMZ
BOUJDJQBUFE 'VSUIFS
JU
JT
QPTTJCMF
UIBU
UIF
UPUBM
BWBJMBCMF
QBZMPBE
DBQBDJUZ
PG
B
TBUFMMJUF
NBZ
OFFE
UP
CF
SFEVDFE
QSJPS
UP
UIF
TBUFMMJUF
SFBDIJOH JUT
FOEPGPSCJUBM
MJGF
8F
QFSJPEJDBMMZ
SFWJFX
UIF
FYQFDUFE
PSCJUBM
MJGF
PG
FBDI
PG
PVS
TBUFMMJUFT
VTJOH
DVSSFOU
FOHJOFFSJOH
EBUB
" SFEVDUJPO
JO
UIF
PSCJUBM
MJGF
PG
BOZ
PG
PVS
TBUFMMJUFT
DPVME
SFTVMU
JO
B
SFEVDUJPO
PG
UIF
SFWFOVFT
HFOFSBUFE
CZ
UIBU
TBUFMMJUF
UIF SFDPHOJUJPO
PG
BO
JNQBJSNFOU
MPTT
BOE
BO
BDDFMFSBUJPO
PG
DBQJUBM
FYQFOEJUVSFT
3FEVDJOH
UIF
BWBJMBCMF
QBZMPBE
DBQBDJUZ
QSJPS
UP UIF
FOE
PG
B
TBUFMMJUFT
PSCJUBM
MJGF
JG
SFRVJSFE
XPVME
SFEVDF
PVS
SFWFOVFT
GSPN
UIF
TBUFMMJUF
5IF
QPUFOUJBM
JNQBDU
PO
PVS
SFWFOVFT GSPN
B
SFEVDUJPO
JO
UIF
PSCJUBM
MJGF
PG
POF
PS
NPSF
TBUFMMJUFT
NBZ
WBSZ
EFQFOEJOH
PO
UIF
TBUFMMJUFT
PSCJUBM
MPDBUJPO
BT
XFMM
BT
UIF UZQF
PG
EFWJDF
BOE
TFSWJDF
B
DVTUPNFS
JT
VTJOH 3FQMBDJOH
B
TBUFMMJUF
VQPO
UIF
FOE
PG
JUT
TFSWJDF
MJGF
XJMM
SFRVJSF
VT
UP
NBLF
TJHOJGJDBOU
FYQFOEJUVSFT 5P
FOTVSF
OP
EJTSVQUJPO
JO
PVS
CVTJOFTT
BOE
UP
QSFWFOU
MPTT
PG
DVTUPNFST
XF
NBZ
CF
SFRVJSFE
UP
DPNNFODF
B
NVMUJZFBS QSPDFTT
UP
DPOTUSVDU
BOE
MBVODI
SFQMBDFNFOU
TBUFMMJUFT
QSJPS
UP
UIF
FYQFDUFE
FOE
PG
TFSWJDF
MJGF
PG
UIF
TBUFMMJUFT
UIFO
JO
PSCJU
5IFSF DBO
CF
OP
BTTVSBODF
UIBU
XF
XJMM
IBWF
TVGGJDJFOU
DBTI
DBTI
GMPX
PS
CF
BCMF
UP
PCUBJO
UIJSEQBSUZ
PS
TIBSFIPMEFS
GJOBODJOH
UP
GVOE TVDI
FYQFOEJUVSFT
PO
GBWPSBCMF
UFSNT
JG
BU
BMM
4IPVME
XF
OPU
IBWF
TVGGJDJFOU
GVOET
BWBJMBCMF
UP
SFQMBDF
PVS
TBUFMMJUFT
JU
DPVME
IBWF B
NBUFSJBM
BEWFSTF
FGGFDU
PO
PVS
SFTVMUT
PG
PQFSBUJPOT
CVTJOFTT
QSPTQFDUT
BOE
GJOBODJBM
DPOEJUJPO 5IF
JNQMFNFOUBUJPO
PG
PVS
CVTJOFTT
QMBO
EFQFOET
PO
JODSFBTFE
EFNBOE
GPS
XJSFMFTT
DPNNVOJDBUJPOT
TFSWJDFT
WJB
TBUFMMJUF JODMVEJOH
*P5
BQQMJDBUJPOT
BOE
WJB
UFSSFTUSJBM
NPCJMF
CSPBECBOE
OFUXPSLT
CPUI
GPS
PVS
FYJTUJOH
TFSWJDFT
BOE
QSPEVDUT BOE
GPS
OFX
TFSWJDFT
BOE
QSPEVDUT
*G
EFNBOE
EPFT
OPU
JODSFBTF
PVS
SFWFOVFT
BOE
QSPGJUBCJMJUZ
NBZ
OPU
JODSFBTF
BT
XF FYQFDU
%FNBOE
GPS
XJSFMFTT
DPNNVOJDBUJPO
TFSWJDFT
NBZ
OPU
HSPX
PS
NBZ
EFDSFBTF
FJUIFS
HFOFSBMMZ
PS
JO
QBSUJDVMBS
HFPHSBQIJD NBSLFUT
GPS
QBSUJDVMBS
UZQFT
PG
TFSWJDFT
PS
EVSJOH
QBSUJDVMBS
UJNF
QFSJPET
"
MBDL
PG
EFNBOE
DPVME
JNQBJS
PVS
BCJMJUZ
UP
TFMM
PVS TFSWJDFT
BOE
EFWFMPQ
BOE
TVDDFTTGVMMZ
NBSLFU
OFX
TFSWJDFT
DPVME
FYFSU
EPXOXBSE
QSFTTVSF
PO
QSJDFT
PS
CPUI
5IJT
JO
UVSO
DPVME EFDSFBTF
PVS
SFWFOVFT
BOE
QSPGJUBCJMJUZ
BOE
BEWFSTFMZ
BGGFDU
PVS
BCJMJUZ
UP
JODSFBTF
PVS
SFWFOVFT
BOE
QSPGJUBCJMJUZ
PWFS
UJNF
8F
QMBO
UP
JOUSPEVDF
BEEJUJPOBM
%VQMFY
4105
BOE
$PNNFSDJBM
*P5
QSPEVDUT
BOE
TFSWJDFT
BT
XFMM
BT
MPXQPXFS
UFSSFTUSJBM NPCJMF
CSPBECBOE
TFSWJDFT
)PXFWFS
XF
DBOOPU
QSFEJDU
XJUI
DFSUBJOUZ
UIF
QPUFOUJBM
MPOHFSUFSN
EFNBOE
GPS
UIFTF
QSPEVDUT
BOE TFSWJDFT
PS
UIF
FYUFOU
UP
XIJDI
XF
XJMM
CF
BCMF
UP
NFFU
EFNBOE
0VS
CVTJOFTT
QMBO
BTTVNFT
XF
XJMM
HSPX
PVS
TVCTDSJCFS
CBTF
*G XF
BSF
OPU
BCMF
UP
EP
TP
JU
NBZ
BEWFSTFMZ
JNQBDU
PVS
CVTJOFTT
QSPTQFDUT

 5IF
TVDDFTT
PG
PVS
CVTJOFTT
QMBO
XJMM
EFQFOE
PO
B
OVNCFS
PG
GBDUPST
JODMVEJOH
CVU
OPU
MJNJUFE
UP
d PVS
BCJMJUZ
UP
NBJOUBJO
UIF
IFBMUI
DBQBDJUZ
BOE
DPOUSPM
PG
PVS
TBUFMMJUFT d PVS
BCJMJUZ
UP
NBJOUBJO
UIF
IFBMUI
PG
PVS
HSPVOE
OFUXPSL d PVS
BCJMJUZ
UP
JOGMVFODF
UIF
MFWFM
PG
NBSLFU
BDDFQUBODF
BOE
EFNBOE
GPS
PVS
QSPEVDUT
BOE
TFSWJDFT d PVS
BCJMJUZ
UP
JOUSPEVDF
OFX
QSPEVDUT
BOE
TFSWJDFT
UIBU
NFFU
UIJT
NBSLFU
EFNBOE d PVS
BCJMJUZ
UP
SFUBJO
DVSSFOU
DVTUPNFST
BOE
PCUBJO
OFX
DVTUPNFST d PVS
BCJMJUZ
UP
PCUBJO
BEEJUJPOBM
CVTJOFTT
VTJOH
PVS
FYJTUJOH
BOE
GVUVSF
TQFDUSVN
BVUIPSJUZ
CPUI
JO
UIF
6OJUFE
4UBUFT
BOE JOUFSOBUJPOBMMZ d PVS
BCJMJUZ
UP
DPOUSPM
UIF
DPTUT
PG
EFWFMPQJOH
BO
JOUFHSBUFE
OFUXPSL
QSPWJEJOH
SFMBUFE
QSPEVDUT
BOE
TFSWJDFT
BT
XFMM
BT PVS
GVUVSF
UFSSFTUSJBM
NPCJMF
CSPBECBOE
TFSWJDFT d PVS
BCJMJUZ
UP
NBSLFU
TVDDFTTGVMMZ
PVS
%VQMFY
4105
BOE
$PNNFSDJBM
*P5
QSPEVDUT
BOE
TFSWJDFT d PVS
BCJMJUZ
UP
EFWFMPQ
BOE
EFQMPZ
JOOPWBUJWF
OFUXPSL
NBOBHFNFOU
UFDIOJRVFT
UP
QFSNJU
NPCJMF
EFWJDFT
UP
USBOTJUJPO CFUXFFO
TBUFMMJUF
BOE
UFSSFTUSJBM
NPEFT d PVS
BCJMJUZ
UP
TFMM
PVS
DVSSFOU
JOWFOUPSZ d UIF
DPTU
BOE
BWBJMBCJMJUZ
PG
VTFS
FRVJQNFOU
UIBU
PQFSBUFT
PO
PVS
OFUXPSL d UIF
FGGFDUJWFOFTT
PG
PVS
DPNQFUJUPST
JO
EFWFMPQJOH
BOE
PGGFSJOH
TJNJMBS
QSPEVDUT
BOE
TFSWJDFT
BOE
JO
QFSTVBEJOH
PVS DVTUPNFST
UP
TXJUDI
TFSWJDF
QSPWJEFST d PVS
BCJMJUZ
UP
TVDDFTTGVMMZ
QSFEJDU
NBSLFU
USFOET d PVS
BCJMJUZ
UP
IJSF
BOE
SFUBJO
RVBMJGJFE
FYFDVUJWFT
NBOBHFST
BOE
FNQMPZFFT d PVS
BCJMJUZ
UP
QSPWJEF
BUUSBDUJWF
TFSWJDF
PGGFSJOHT
BU
DPNQFUJUJWF
QSJDFT
UP
PVS
UBSHFU
NBSLFUT
BOE d PVS
BCJMJUZ
UP
SBJTF
BEEJUJPOBM
DBQJUBM
PO
BDDFQUBCMF
UFSNT
XIFO
SFRVJSFE 8F
JODVSSFE
PQFSBUJOH
MPTTFT
JO
UIF
QBTU
UISFF
ZFBST
BOE
XF
BSF
MJLFMZ
UP
DPOUJOVF
JODVSSJOH
TVDI
MPTTFT
8F
JODVSSFE
PQFSBUJOH
MPTTFT
PG

NJMMJPO

NJMMJPO
BOE

NJMMJPO
JO


BOE

SFTQFDUJWFMZ
5IFTF MPTTFT
SFTVMUFE
JO
QBSU
GSPN
EFQSFDJBUJPO
FYQFOTF
SFMBUFE
UP
PVS
TFDPOEHFOFSBUJPO
TBUFMMJUFT
XIJDI
XF
QMBDFE
JOUP
TFSWJDF
JO 

BOE

BOE
HSPVOE
JOGSBTUSVDUVSF
XIJDI
XF
CFHBO
UP
QMBDF
JOUP
TFSWJDF
JO

8F
EFTJHOFE
PVS
TFDPOEHFOFSBUJPO OFUXPSL
UP
IBWF
B
ZFBS
MJGF
BOE
XF
FYQFDU
UIBU
XF
XJMM
DPOUJOVF
UP
SFDPHOJ[F
IJHI
MFWFMT
PG
EFQSFDJBUJPO
FYQFOTF
DPNNFOTVSBUF XJUI
JUT
FTUJNBUFE
VTFGVM
MJGF
3BQJE
BOE
TJHOJGJDBOU
UFDIOPMPHJDBM
DIBOHFT
JO
UIF
TBUFMMJUF
DPNNVOJDBUJPOT
JOEVTUSZ
NBZ
JNQBJS
PVS
DPNQFUJUJWF
QPTJUJPO BOE
SFRVJSF
VT
UP
NBLF
TJHOJGJDBOU
DBQJUBM
FYQFOEJUVSFT
XIJDI
NBZ
SFRVJSF
BEEJUJPOBM
DBQJUBM
UIBU
IBT
OPU
CFFO
BSSBOHFE
5IF
TQBDF
BOE
DPNNVOJDBUJPOT
JOEVTUSJFT
BSF
TVCKFDU
UP
SBQJE
BEWBODFT
BOE
JOOPWBUJPOT
JO
UFDIOPMPHZ
/FX
UFDIOPMPHZ
DPVME SFOEFS
PVS
TZTUFN
PCTPMFUF
PS
MFTT
DPNQFUJUJWF
CZ
TBUJTGZJOH
DPOTVNFS
EFNBOE
JO
NPSF
BUUSBDUJWF
XBZT
PS
UISPVHI
UIF
JOUSPEVDUJPO PG
JODPNQBUJCMF
TUBOEBSET
1BSUJDVMBS
UFDIOPMPHJDBM
EFWFMPQNFOUT
UIBU
DPVME
BEWFSTFMZ
BGGFDU
VT
JODMVEF
UIF
EFQMPZNFOU
CZ
PVS DPNQFUJUPST
PG
OFX
TBUFMMJUFT
XJUI
HSFBUFS
QPXFS
HSFBUFS
GMFYJCJMJUZ
HSFBUFS
FGGJDJFODZ
PS
HSFBUFS
DBQBCJMJUJFT
BT
XFMM
BT
DPOUJOVJOH JNQSPWFNFOUT
JO
UFSSFTUSJBM
XJSFMFTT
UFDIOPMPHJFT
8F
NVTU
DPOUJOVF
UP
DPNNJU
UP
NBLF
TJHOJGJDBOU
DBQJUBM
FYQFOEJUVSFT
UP
LFFQ VQ
XJUI
UFDIOPMPHJDBM
DIBOHFT
BOE
SFNBJO
DPNQFUJUJWF
$VTUPNFS
BDDFQUBODF
PG
UIF
TFSWJDFT
BOE
QSPEVDUT
UIBU
XF
PGGFS
XJMM DPOUJOVBMMZ
CF
BGGFDUFE
CZ
UIF
UFDIOPMPHZ
JO
PVS
QSPEVDU
BOE
TFSWJDF
PGGFSJOHT
SFMBUJWF
UP
DPNQFUJUJWF
PGGFSJOHT
/FX
UFDIOPMPHJFT NBZ
CF
QSPUFDUFE
CZ
QBUFOUT
BOE
UIFSFGPSF
NBZ
OPU
CF
BWBJMBCMF
UP
VT
8F
FYQFDU
UP
GBDF
DPNQFUJUJPO
JO
UIF
GVUVSF
GSPN
DPNQBOJFT VTJOH
OFX
UFDIOPMPHJFT
BOE
OFX
TBUFMMJUF
TZTUFNT 5IF
IBSEXBSF
BOE
TPGUXBSF
XF
VUJMJ[F
JO
PQFSBUJOH
PVS
GJSTUHFOFSBUJPO
HBUFXBZT
XFSF
EFTJHOFE
BOE
NBOVGBDUVSFE
PWFS
 ZFBST
BHP
BOE
QPSUJPOT
IBWF
EFUFSJPSBUFE
5IJT
PSJHJOBM
FRVJQNFOU
NBZ
CFDPNF
MFTT
SFMJBCMF
BT
JU
BHFT
BOE
XJMM
CF
NPSF
EJGGJDVMU BOE
FYQFOTJWF
UP
TFSWJDF
*U
NBZ
CF
EJGGJDVMU
PS
JNQPTTJCMF
UP
PCUBJO
BMM
OFDFTTBSZ
SFQMBDFNFOU
QBSUT
GPS
UIF
IBSEXBSF
CFGPSF
UIF OFX
FRVJQNFOU
BOE
TPGUXBSF
JT
GVMMZ
EFQMPZFE
4PNF
PG
UIF
IBSEXBSF
BOE
TPGUXBSF
XF
VTF
JO
PQFSBUJOH
PVS
HBUFXBZT
BSF
TJHOJGJDBOUMZ DVTUPNJ[FE
BOE
UBJMPSFE
UP
NFFU
PVS
SFRVJSFNFOUT
BOE
TQFDJGJDBUJPOT
BOE
DPVME
CF
EJGGJDVMU
BOE
FYQFOTJWF
UP
TFSWJDF
VQHSBEF
PS SFQMBDF
"MUIPVHI
XF
NBJOUBJO
JOWFOUPSJFT
PG
TPNF
TQBSF
QBSUT
JU
OPOFUIFMFTT
NBZ
CF
EJGGJDVMU
FYQFOTJWF
PS
JNQPTTJCMF
UP
PCUBJO SFQMBDFNFOU
QBSUT
GPS
PVS
IBSEXBSF
EVF
UP
B
MJNJUFE
OVNCFS
PG
QBSUT
CFJOH
NBOVGBDUVSFE
UP
PVS
SFRVJSFNFOUT
BOE
TQFDJGJDBUJPOT *O
BEEJUJPO
PVS
CVTJOFTT
QMBO
DPOUFNQMBUFT
VQEBUJOH
PS
SFQMBDJOH
TPNF
PG
UIF
IBSEXBSF
BOE
TPGUXBSF
JO
PVS
OFUXPSL
BT
UFDIOPMPHZ BEWBODFT
CVU
UIF
DPNQMFYJUZ
PG
PVS
SFRVJSFNFOUT
BOE
TQFDJGJDBUJPOT
NBZ
QSFTFOU
VT
XJUI
UFDIOJDBM
BOE
PQFSBUJPOBM
DIBMMFOHFT
UIBU DPNQMJDBUF
PS
PUIFSXJTF
NBLF
JU
FYQFOTJWF
PS
JOGFBTJCMF
UP
DBSSZ
PVU
TVDI
VQHSBEFT
BOE
SFQMBDFNFOUT
*G
XF
BSF
OPU
BCMF
UP
TVJUBCMZ TFSWJDF
VQHSBEF
PS
SFQMBDF
PVS
FRVJQNFOU
JU
DPVME
IBSN
PVS
BCJMJUZ
UP
QSPWJEF
PVS
TFSWJDFT
BOE
HFOFSBUF
SFWFOVF

 0VS
CVTJOFTT
JT
DBQJUBM
JOUFOTJWF
8F
NBZ
OPU
CF
BCMF
UP
SBJTF
BEFRVBUF
DBQJUBM
UP
GJOBODF
PVS
CVTJOFTT
TUSBUFHJFT
PS
XF NBZ
CF
BCMF
UP
EP
TP
POMZ
PO
UFSNT
UIBU
TJHOJGJDBOUMZ
SFTUSJDU
PVS
BCJMJUZ
UP
PQFSBUF
PVS
CVTJOFTT *NQMFNFOUBUJPO
PG
PVS
CVTJOFTT
TUSBUFHZ
SFRVJSFT
B
TVCTUBOUJBM
PVUMBZ
PG
DBQJUBM
"T
XF
QVSTVF
CVTJOFTT
TUSBUFHJFT
BOE
TFFL
UP SFTQPOE
UP
EFWFMPQNFOUT
JO
PVS
CVTJOFTT
BOE
PQQPSUVOJUJFT
BOE
USFOET
JO
PVS
JOEVTUSZ
PVS
BDUVBM
DBQJUBM
FYQFOEJUVSFT
NBZ
EJGGFS GSPN
PVS
FYQFDUFE
DBQJUBM
FYQFOEJUVSFT
5IFSF
DBO
CF
OP
BTTVSBODF
UIBU
XF
XJMM
CF
BCMF
UP
TBUJTGZ
PVS
DBQJUBM
SFRVJSFNFOUT
JO
UIF GVUVSF
*O
BEEJUJPO
JG
POF
PG
PVS
TBUFMMJUFT
GBJMFE
VOFYQFDUFEMZ
UIFSF
DBO
CF
OP
BTTVSBODF
PG
JOTVSBODF
SFDPWFSZ
GPS
PVS
MPTTFT
PS UIF
UJNJOH
UIFSFPG
BOE
XF
NBZ
OFFE
UP
PCUBJO
BEEJUJPOBM
GJOBODJOH
UP
SFQMBDF
UIF
TBUFMMJUF
*G
XF
EFUFSNJOF
UIBU
XF
OFFE
UP
PCUBJO BEEJUJPOBM
GVOET
UISPVHI
FYUFSOBM
GJOBODJOH
BOE
BSF
VOBCMF
UP
EP
TP
XF
NBZ
CF
QSFWFOUFE
GSPN
GVMMZ
JNQMFNFOUJOH
PVS
CVTJOFTT TUSBUFHZ 8F
IBWF
TVCTUBOUJBM
DPOUSBDUVBM
PCMJHBUJPOT
XIJDI
NBZ
SFRVJSF
BEEJUJPOBM
DBQJUBM
UIF
UFSNT
PG
XIJDI
IBWF
OPU
CFFO BSSBOHFE
5IF
UFSNT
PG
PVS
'BDJMJUZ
"HSFFNFOU
DPVME
DPNQMJDBUF
SBJTJOH
BEEJUJPOBM
DBQJUBM
"T
PG
%FDFNCFS


PVS
DVSSFOU
TPVSDFT
PG
MJRVJEJUZ
JODMVEF
DBTI
PO
IBOE

NJMMJPO
SFTUSJDUFE
DBTI

NJMMJPO BOE
GVUVSF
DBTI
GMPXT
GSPN
PQFSBUJPOT
8F
BMTP
IBWF
OPODVSSFOU
SFTUSJDUFE
DBTI

NJMMJPO
XIJDI
DPOTJTUT
QSJNBSJMZ
PG
B EFCU
TFSWJDF
SFTFSWF
BDDPVOU
XIJDI
JT
QMFEHFE
UP
TFDVSF
BMM
PG
PVS
PCMJHBUJPOT
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
5IJT
BDDPVOU
XJMM
CF VTFE
UPXBSET
UIF
GJOBM
TDIFEVMFE
QSJODJQBM
QBZNFOU
EVF
VQPO
NBUVSJUZ
0VS
PQFSBUJOH
FYQFOTFT
GPS
UIF
UXFMWFNPOUI
QFSJPE
FOEFE %FDFNCFS


XFSF

NJMMJPO
0VS
TIPSUUFSN
BOE
MPOHUFSN
MJRVJEJUZ
SFRVJSFNFOUT
JODMVEF
QSJNBSJMZ
QBZJOH
PVS
EFCU
TFSWJDF
PCMJHBUJPOT
BOE
GVOEJOH
PVS PQFSBUJOH
DPTUT
8F
DBOOPU
QSPWJEF
BTTVSBODF
UIBU
XF
XJMM
OPU
FYQFSJFODF
B
MJRVJEJUZ
TIPSUGBMM
JO
UIF
TIPSU
PS
MPOHUFSN 3FTUSJDUJPOT
JO
PVS
'BDJMJUZ
"HSFFNFOU
BOE
PVS
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
MJNJU
UIF
UZQFT
PG
GJOBODJOHT
XF
NBZ
VOEFSUBLF BOE
PVS
EJTDSFUJPO
PWFS
UIF
VTF
PG
OFU
DBTI
QSPDFFET
GSPN
DFSUBJO
GVUVSF
GJOBODJOHT
4FF
/PUF

-POH5FSN
%FCU
BOE
0UIFS 'JOBODJOH
"SSBOHFNFOUT
JO
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
JO
1BSU
**
*UFN

PG
UIJT
3FQPSU
GPS
GVSUIFS
EJTDVTTJPO
PG
PVS EFCU
BHSFFNFOUT
8F
DBOOPU
BTTVSF
ZPV
UIBU
XF
XJMM
CF
BCMF
UP
PCUBJO
BEEJUJPOBM
GJOBODJOH
XIFO
SFRVJSFE
PO
SFBTPOBCMF
UFSNT
PS BU
BMM
*G
XF
DBOOPU
PCUBJO
JU
JO
B
UJNFMZ
NBOOFS
XF
NBZ
CF
VOBCMF
UP
FYFDVUF
PVS
CVTJOFTT
QMBO
BOE
GVMGJMM
PVS
GJOBODJBM
DPNNJUNFOUT *G
XF
EP
OPU
EFWFMPQ
BDRVJSF
BOE
NBJOUBJO
QSPQSJFUBSZ
JOGPSNBUJPO
BOE
JOUFMMFDUVBM
QSPQFSUZ
SJHIUT
JU
DPVME
MJNJU
UIF HSPXUI
PG
PVS
CVTJOFTT
BOE
SFEVDF
PVS
NBSLFU
TIBSF
0VS
CVTJOFTT
EFQFOET
PO
UFDIOJDBM
LOPXMFEHF
BOE
XF
CBTF
PVS
CVTJOFTT
QMBO
JO
QBSU
PO
PVS
BCJMJUZ
UP
LFFQ
VQ
XJUI
OFX UFDIOPMPHJDBM
EFWFMPQNFOUT
BOE
JODPSQPSBUF
UIFN
JO
PVS
QSPEVDUT
BOE
TFSWJDFT
8F
PXO
PS
IBWF
UIF
SJHIU
UP
VTF
PVS
QBUFOUT
XPSL QSPEVDUT
JOWFOUJPOT
EFTJHOT
TPGUXBSF
TZTUFNT
BOE
TJNJMBS
LOPXIPX
0VS
QSPQSJFUBSZ
JOGPSNBUJPO
NBZ
CF
EJTDMPTFE
UP
PUIFST PS
PUIFST
NBZ
JOEFQFOEFOUMZ
EFWFMPQ
TJNJMBS
JOGPSNBUJPO
TZTUFNT
BOE
LOPXIPX
1SPUFDUJPO
PG
PVS
JOGPSNBUJPO
TZTUFNT
BOE LOPXIPX
NBZ
SFTVMU
JO
MJUJHBUJPO
UIF
DPTU
PG
XIJDI
DPVME
CF
TVCTUBOUJBM
5IJSE
QBSUJFT
NBZ
BTTFSU
DMBJNT
UIBU
PVS
QSPEVDUT
PS TFSWJDFT
JOGSJOHF
PO
UIFJS
QSPQSJFUBSZ
SJHIUT
"OZ
TVDI
DMBJNT
JG
NBEF
NBZ
QSFWFOU
PS
MJNJU
PVS
TBMFT
PG
QSPEVDUT
PS
TFSWJDFT
PS JODSFBTF
PVS
DPTUT 8F
MJDFOTF
NVDI
PG
UIF
TPGUXBSF
XF
SFRVJSF
UP
TVQQPSU
DSJUJDBM
HBUFXBZ
PQFSBUJPOT
GSPN
UIJSE
QBSUJFT
TVDI
BT
)VHIFT
&SJDTTPO BOE
2VBMDPNN
5IJT
TPGUXBSF
XBT
EFWFMPQFE
PS
DVTUPNJ[FE
TQFDJGJDBMMZ
GPS
PVS
VTF
8F
BMTP
MJDFOTF
UFDIOJDBM
JOGPSNBUJPO
GPS
UIF EFTJHO
NBOVGBDUVSF
BOE
TBMF
PG
PVS
QSPEVDUT
5IJT
JOUFMMFDUVBM
QSPQFSUZ
JT
FTTFOUJBM
UP
PVS
BCJMJUZ
UP
DPOUJOVF
UP
PQFSBUF
PVS DPOTUFMMBUJPO
BOE
TFMM
PVS
QSPEVDUT
BOE
TFSWJDFT
8F
BMTP
MJDFOTF
TPGUXBSF
UP
TVQQPSU
DVTUPNFS
TFSWJDF
GVODUJPOT
TVDI
BT
CJMMJOH GSPN
UIJSE
QBSUJFT
UIBU
EFWFMPQFE
PS
DVTUPNJ[FE
JU
TQFDJGJDBMMZ
GPS
PVS
VTF
*G
UIF
UIJSEQBSUZ
MJDFOTPST
DFBTF
UP
TVQQPSU
BOE
TFSWJDF PVS
TPGUXBSF
PS
PVS
MJDFOTFT
BSF
OP
MPOHFS
BWBJMBCMF
PO
DPNNFSDJBMMZ
SFBTPOBCMF
UFSNT
JU
NJHIU
CF
EJGGJDVMU
FYQFOTJWF
PS
JNQPTTJCMF GPS
VT
UP
PCUBJO
TVDI
TFSWJDFT
GSPN
BMUFSOBUJWF
WFOEPST
3FQMBDJOH
TVDI
TPGUXBSF
DPVME
CF
EJGGJDVMU
UJNF
DPOTVNJOH
BOE
FYQFOTJWF 5IJT
NJHIU
SFRVJSF
VT
UP
PCUBJO
TVCTUJUVUF
UFDIOPMPHZ
XJUI
MPXFS
RVBMJUZ
PS
QFSGPSNBODF
TUBOEBSET
PS
BU
B
HSFBUFS
DPTU 0UIFST
NBZ
DMBJN
UIBU
PVS
QSPEVDUT
WJPMBUF
UIFJS
QBUFOU
PS
JOUFMMFDUVBM
QSPQFSUZ
SJHIUT
XIJDI
DPVME
CF
DPTUMZ
BOE
EJTSVQUJWF UP
VT 8F
PQFSBUF
JO
BO
JOEVTUSZ
GSBVHIU
XJUI
TJHOJGJDBOU
JOUFMMFDUVBM
QSPQFSUZ
MJUJHBUJPO
*OUFMMFDUVBM
QSPQFSUZ
JOGSJOHFNFOU
DMBJNT PS
MJUJHBUJPO
NBZ
CF
CSPVHIU
BHBJOTU
VT
%FGFOEJOH
JOUFMMFDUVBM
QSPQFSUZ
TVJUT
JT
CPUI
DPTUMZ
BOE
UJNFDPOTVNJOH
BOE
FWFO
JG VMUJNBUFMZ
TVDDFTTGVM
NBZ
EJWFSU
NBOBHFNFOUT
BUUFOUJPO
GSPN
PUIFS
CVTJOFTT
DPODFSOT
"O
BEWFSTF
EFUFSNJOBUJPO
JO
MJUJHBUJPO
UP XIJDI
XF
NBZ
CFDPNF
B
QBSUZ
DPVME
BNPOH
PUIFS
UIJOHT d TVCKFDU
VT
UP
TJHOJGJDBOU
MJBCJMJUJFT
UP
UIJSE
QBSUJFT
JODMVEJOH
USFCMF
EBNBHFT
d SFRVJSF
EJTQVUFE
SJHIUT
UP
CF
MJDFOTFE
GSPN
B
UIJSE
QBSUZ
GPS
SPZBMUJFT
UIBU
NBZ
CF
TVCTUBOUJBM
d SFRVJSF
VT
UP
DFBTF
VTJOH
UFDIOPMPHZ
UIBU
JT
JNQPSUBOU
UP
PVS
CVTJOFTT
PS
d QSPIJCJU
VT
GSPN
TFMMJOH
TPNF
PS
BMM
PG
PVS
QSPEVDUT
PS
PGGFSJOH
TPNF
PS
BMM
PG
PVS
TFSWJDFT

 8F
IBWF
B
MJNJUFE
TVQQMZ
PG
%VQMFY
IBOETFUT
BOE
SFMZ
PO
B
MJNJUFE
OVNCFS
PG
LFZ
WFOEPST
GPS
UJNFMZ
TVQQMZ
PG
FRVJQNFOU BOE
TFSWJDFT
*G
PVS
LFZ
WFOEPST
GBJM
UP
QSPWJEF
FRVJQNFOU
BOE
TFSWJDFT
UP
VT
XF
NBZ
GBDF
EJGGJDVMUJFT
JO
GJOEJOH
BMUFSOBUJWF TPVSDFT
XIJDI
XPVME
BEWFSTFMZ
JNQBDU
PVS
PQFSBUJPOT
8F
IBWF
B
MJNJUFE
RVBOUJUZ
PG
PVS
%VQMFY
IBOETFUT
JO
JOWFOUPSZ
BOE
IBWF
OPU
DPOUSBDUFE
XJUI
B
NBOVGBDUVSFS
UP
QSPEVDF BEEJUJPOBM
QIPOF
JOWFOUPSZ
8F
IBWF
B
CVZCBDL
QSPHSBN
XJUI
GPSNFS
DVTUPNFST
BOE
XF
IBWF
TFFO
NFBOJOHGVM
TVDDFTT
SF PGGFSJOH
SFGVSCJTIFE
IBOETFUT
JOUP
UIF
NBSLFU
JO
BO
FGGPSU
UP
NJUJHBUF
UIF
MBDL
PG
OFX
IBOETFU
JOWFOUPSZ
)PXFWFS
UIF
OVNCFS
PG EFWJDFT
SFDFJWFE
GSPN
UIF
CVZCBDL
NBZ
OPU
CF
TVGGJDJFOU
UP
NFFU
PVS
DVTUPNFST
EFNBOE
"EEJUJPOBMMZ
JO
TPNF
DBTFT
XF
DPOUSBDU XJUI
NBOVGBDUVSFST
UP
QSPWJEF
VT
XJUI
PUIFS
FRVJQNFOU
JOWFOUPSZ
GPS
UIF
EFWJDFT
XF
TFMM
*G
UIFTF
NBOVGBDUVSFST
EP
OPU
UBLF
PO
PS GVMGJMM
GVUVSF
PSEFST
PS
GBJM
UP
QFSGPSN
VOEFS
PVS
DVSSFOU
DPOUSBDUT
XF
NBZ
CF
VOBCMF
UP
DPOUJOVF
QSPEVDJOH
BOE
TFMMJOH
UIJT
FRVJQNFOU UP
DVTUPNFST
BU
B
SFBTPOBCMF
DPTU
UP
VT
PS
UIFSF
NBZ
CF
EFMBZT
JO
QSPEVDUJPO
BOE
EFDSFBTFT
JO
TBMFT -BDL
PG
BWBJMBCJMJUZ
PG
DPNQPOFOUT
GSPN
UIF
FMFDUSPOJDT
JOEVTUSZ
SFRVJSFE
JO
PVS
SFUBJM
QSPEVDUT
HBUFXBZT
BOE
TBUFMMJUFT DPVME
EFMBZ
PS
BEWFSTFMZ
JNQBDU
PVS
PQFSBUJPOT
8F
SFMZ
VQPO
UIF
BWBJMBCJMJUZ
PG
DPNQPOFOUT
NBUFSJBMT
BOE
DPNQPOFOU
QBSUT
GSPN
UIF
FMFDUSPOJDT
JOEVTUSZ
5IF
FMFDUSPOJDT JOEVTUSZ
JT
TVCKFDU
UP
PDDBTJPOBM
TIPSUBHFT
JO
QBSUT
BWBJMBCJMJUZ
EFQFOEJOH
PO
GMVDUVBUJPOT
JO
TVQQMZ
BOE
EFNBOE
*OEVTUSZ
TIPSUBHFT NBZ
SFTVMU
JO
EFMBZFE
TIJQNFOUT
PG
NBUFSJBMT
PS
JODSFBTFE
QSJDFT
PS
CPUI
"T
B
DPOTFRVFODF
FMFNFOUT
PG
PVS
PQFSBUJPO
XIJDI
VTF FMFDUSPOJD
QBSUT
TVDI
BT
PVS
SFUBJM
QSPEVDUT
HBUFXBZT
BOE
TBUFMMJUFT
DPVME
CF
TVCKFDU
UP
EJTSVQUJPOT
DPTU
JODSFBTFT
PS
CPUI 8F
GBDF
TQFDJBM
SJTLT
CZ
EPJOH
CVTJOFTT
JO
JOUFSOBUJPOBM
NBSLFUT
BOE
EFWFMPQJOH
NBSLFUT
JODMVEJOH
DVSSFODZ
BOE FYQSPQSJBUJPO
SJTLT
XIJDI
DPVME
JODSFBTF
PVS
DPTUT
PS
SFEVDF
PVS
SFWFOVFT
JO
UIFTF
BSFBT

"MUIPVHI
PVS
NPTU
FDPOPNJDBMMZ
JNQPSUBOU
HFPHSBQIJD
NBSLFUT
DVSSFOUMZ
BSF
UIF
6OJUFE
4UBUFT
BOE
$BOBEB
XF
IBWF
TVCTUBOUJBM NBSLFUT
GPS
PVS
NPCJMF
TBUFMMJUF
TFSWJDFT
JO
BOE
PVS
CVTJOFTT
QMBO
JODMVEFT
EFWFMPQJOH
DPVOUSJFT
PS
SFHJPOT
UIBU
BSF
VOEFSTFSWFE CZ
FYJTUJOH
UFMFDPNNVOJDBUJPOT
TZTUFNT
TVDI
BT
SVSBM
#SB[JM
$FOUSBM
"NFSJDB
"SHFOUJOB
BOE
"GSJDB
%FWFMPQJOH
DPVOUSJFT
BSF NPSF
MJLFMZ
UIBO
JOEVTUSJBMJ[FE
DPVOUSJFT
UP
FYQFSJFODF
NBSLFU
DVSSFODZ
BOE
JOUFSFTU
SBUF
GMVDUVBUJPOT
BOE
IJHI
JOGMBUJPO
*O
BEEJUJPO UIFTF
DPVOUSJFT
QSFTFOU
SJTLT
SFMBUJOH
UP
HPWFSONFOU
QPMJDZ
QSJDF
XBHF
BOE
FYDIBOHF
DPOUSPMT
TPDJBM
JOTUBCJMJUZ
FYQSPQSJBUJPO BOE
PUIFS
BEWFSTF
FDPOPNJD
QPMJUJDBM
BOE
EJQMPNBUJD
DPOEJUJPOT
$POEVDUJOH
PQFSBUJPOT
PVUTJEF
UIF
6OJUFE
4UBUFT
JOWPMWFT
OVNFSPVT
TQFDJBM
SJTLT
BOE
FYQBOEJOH
PVS
JOUFSOBUJPOBM
PQFSBUJPOT XPVME
JODSFBTF
UIFTF
SJTLT
5IFTF
SJTLT
JODMVEF
CVU
BSF
OPU
MJNJUFE
UP d EJGGJDVMUJFT
JO
QFOFUSBUJOH
OFX
NBSLFUT
EVF
UP
FTUBCMJTIFE
BOE
FOUSFODIFE
DPNQFUJUPST d EJGGJDVMUJFT
JO
EFWFMPQJOH
QSPEVDUT
BOE
TFSWJDFT
UIBU
BSF
UBJMPSFE
UP
UIF
OFFET
PG
MPDBM
DVTUPNFST d MBDL
PG
MPDBM
BDDFQUBODF
PS
LOPXMFEHF
PG
PVS
QSPEVDUT
BOE
TFSWJDFT d MBDL
PG
SFDPHOJUJPO
PG
PVS
QSPEVDUT
BOE
TFSWJDFT d VOBWBJMBCJMJUZ
PG
PS
EJGGJDVMUJFT
JO
FTUBCMJTIJOH
SFMBUJPOTIJQT
XJUI
EJTUSJCVUPST d TJHOJGJDBOU
JOWFTUNFOUT
JODMVEJOH
UIF
EFWFMPQNFOU
BOE
EFQMPZNFOU
PG
EFEJDBUFE
QIZTJDBM
HBUFXBZT
JO
DPVOUSJFT
UIBU SFRVJSF
UIFN
UP
DPOOFDU
UIF
USBGGJD
DPNJOH
UP
BOE
GSPN
UIFJS
UFSSJUPSZ d JOTUBCJMJUZ
PG
JOUFSOBUJPOBM
FDPOPNJFT
BOE
HPWFSONFOUT d DIBOHFT
JO
MBXT
BOE
QPMJDJFT
BGGFDUJOH
USBEF
BOE
JOWFTUNFOU
JO
PUIFS
KVSJTEJDUJPOT d OPODPNQMJBODF
XJUI
UIF
'PSFJHO
$PSSVQU
1SBDUJDFT
"DU
'$1"
UIF
6,
#SJCFSZ
"DU
TBODUJPOT
MBXT
BOE
FYQPSU
DPOUSPMT d FYQPTVSF
UP
WBSZJOH
MFHBM
TUBOEBSET
JO
PUIFS
KVSJTEJDUJPOT
JODMVEJOH
JOUFMMFDUVBM
QSPQFSUZ
QSPUFDUJPO
BOE
PUIFS
TJNJMBS
MBXT BOE
SFHVMBUJPOT d EJGGJDVMUJFT
JO
PCUBJOJOH
SFRVJSFE
SFHVMBUPSZ
BVUIPSJ[BUJPOT d EJGGJDVMUJFT
JO
FOGPSDJOH
MFHBM
SJHIUT
JO
PUIFS
KVSJTEJDUJPOT d WBSJBUJPOT
JO
MPDBM
EPNFTUJD
PXOFSTIJQ
SFRVJSFNFOUT d SFRVJSFNFOUT
UIBU
PQFSBUJPOBM
BDUJWJUJFT
CF
QFSGPSNFE
JODPVOUSZ d DIBOHJOH
BOE
DPOGMJDUJOH
OBUJPOBM
BOE
MPDBM
SFHVMBUPSZ
SFRVJSFNFOUT
BOE d VODFSUBJOUZ
JO
GPSFJHO
DVSSFODZ
FYDIBOHF
SBUFT
BOE
FYDIBOHF
DPOUSPMT 5IFTF
SJTLT
DPVME
BGGFDU
PVS
BCJMJUZ
UP
DPNQFUF
TVDDFTTGVMMZ
BOE
FYQBOE
JOUFSOBUJPOBMMZ
5P
UIF
FYUFOU
UIBU
UIF
QSJDFT
GPS
PVS QSPEVDUT
BOE
TFSWJDFT
BSF
EFOPNJOBUFE
JO
64
EPMMBST
BOZ
BQQSFDJBUJPO
PG
UIF
64
EPMMBS
BHBJOTU
PUIFS
DVSSFODJFT
XJMM
JODSFBTF UIF
DPTU
PG
PVS
QSPEVDUT
BOE
TFSWJDFT
UP
PVS
JOUFSOBUJPOBM
DVTUPNFST
BOE
BT
B
SFTVMU
NBZ
SFEVDF
UIF
DPNQFUJUJWFOFTT
PG
PVS JOUFSOBUJPOBM
PGGFSJOHT
BOE
NBLF
JU
NPSF
EJGGJDVMU
GPS
VT
UP
HSPX
JOUFSOBUJPOBMMZ

-JNJUFE
BWBJMBCJMJUZ
PG
64
DVSSFODZ
JO
TPNF MPDBM
NBSLFUT
PS
HPWFSONFOUBM
DPOUSPMT
PO
UIF
FYQPSU
PG
DVSSFODZ
NBZ
QSFWFOU
PVS
DVTUPNFST
GSPN
NBLJOH
QBZNFOUT
JO
64
EPMMBST PS
EFMBZ
UIF
BWBJMBCJMJUZ
PG
QBZNFOU
EVF
UP
GPSFJHO
CBOL
DVSSFODZ
QSPDFTTJOH
BOE
DPOUSPMT

 0VS
PQFSBUJPOT
JOWPMWF
USBOTBDUJPOT
JO
B
WBSJFUZ
PG
DVSSFODJFT
4BMFT
EFOPNJOBUFE
JO
GPSFJHO
DVSSFODJFT
JOWPMWF
QSJNBSJMZ
UIF $BOBEJBO
EPMMBS
UIF
FVSP
BOE
UIF
#SB[JMJBO
SFBM
"DDPSEJOHMZ
PVS
PQFSBUJOH
SFTVMUT
NBZ
CF
TJHOJGJDBOUMZ
BGGFDUFE
CZ
GMVDUVBUJPOT JO
UIF
FYDIBOHF
SBUFT
GPS
UIFTF
DVSSFODJFT
"QQSPYJNBUFMZ

BOE

PG
PVS
UPUBM
SFWFOVF
XBT
UP
DVTUPNFST
QSJNBSJMZ
MPDBUFE JO
$BOBEB
&VSPQF
$FOUSBM
"NFSJDB
BOE
4PVUI
"NFSJDB
EVSJOH

BOE

SFTQFDUJWFMZ
0VS
SFTVMUT
PG
PQFSBUJPOT
GPS
 BOE

JODMVEFE
OFU
HBJOT
PG
BQQSPYJNBUFMZ

NJMMJPO
BOE
OFU
MPTTFT
PG

NJMMJPO
SFTQFDUJWFMZ
PO
GPSFJHO
DVSSFODZ USBOTBDUJPOT
8F
NBZ
CF
VOBCMF
UP
PGGTFU
VOGBWPSBCMF
DVSSFODZ
NPWFNFOUT
BT
UIFZ
BEWFSTFMZ
BGGFDU
PVS
SFWFOVF
BOE
FYQFOTFT
0VS JOBCJMJUZ
UP
EP
TP
DPVME
IBWF
B
TVCTUBOUJBM
OFHBUJWF
JNQBDU
PO
PVS
PQFSBUJOH
SFTVMUT
BOE
DBTI
GMPXT 0VS
HMPCBM
PQFSBUJPOT
FYQPTF
VT
UP
USBEF
BOE
FDPOPNJD
TBODUJPOT
PUIFS
SFTUSJDUJPOT
MJBCJMJUJFT
BOE
FYQPTVSF
UP
QFOBMUJFT JNQPTFE
CZ
UIF
6OJUFE
4UBUFT
UIF
&VSPQFBO
6OJPO
BOE
PUIFS
HPWFSONFOUT
BOE
PSHBOJ[BUJPOT 5IF
64
%FQBSUNFOUT
PG
+VTUJDF
$PNNFSDF
4UBUF
BOE
5SFBTVSZ
BOE
PUIFS
GFEFSBM
BHFODJFT
BOE
BVUIPSJUJFT
IBWF
B
CSPBE
SBOHF PG
DJWJM
BOE
DSJNJOBM
QFOBMUJFT
UIFZ
NBZ
TFFL
UP
JNQPTF
BHBJOTU
DPSQPSBUJPOT
BOE
JOEJWJEVBMT
GPS
WJPMBUJPOT
PG
FDPOPNJD
TBODUJPOT MBXT
FYQPSU
DPOUSPM
MBXT
'$1"
BOE
PUIFS
GFEFSBM
TUBUVUFT
BOE
SFHVMBUJPOT
JODMVEJOH
UIPTF
FTUBCMJTIFE
CZ
UIF
0GGJDF
PG
'PSFJHO "TTFUT
$POUSPM
0'"$ 
6OEFS
UIFTF
MBXT
BOE
SFHVMBUJPOT
BT
XFMM
BT
PUIFS
BOUJDPSSVQUJPO
MBXT
BOUJNPOFZMBVOEFSJOH
MBXT FYQPSU
DPOUSPM
MBXT
DVTUPNT
MBXT
TBODUJPOT
MBXT
BOE
PUIFS
MBXT
HPWFSOJOH
PVS
PQFSBUJPOT
WBSJPVT
HPWFSONFOU
BHFODJFT
SFRVJSF FYQPSU
MJDFOTFT
5IFZ
NBZ
TFFL
UP
JNQPTF
NPEJGJDBUJPOT
UP
CVTJOFTT
QSBDUJDFT
JODMVEJOH
DFTTBUJPO
PG
CVTJOFTT
BDUJWJUJFT
JO
TBODUJPOFE DPVOUSJFT
PS
XJUI
TBODUJPOFE
QFSTPOT
PS
FOUJUJFT
BOE
NPEJGJDBUJPOT
UP
DPNQMJBODF
QSPHSBNT
XIJDI
NBZ
JODSFBTF
DPNQMJBODF
DPTUT BOE
NBZ
TVCKFDU
VT
UP
GJOFT
QFOBMUJFT
BOE
PUIFS
TBODUJPOT
"
WJPMBUJPO
PG
UIFTF
MBXT
PS
SFHVMBUJPOT
DPVME
BEWFSTFMZ
JNQBDU
PVS CVTJOFTT
SFTVMUT
PG
PQFSBUJPOT
BOE
GJOBODJBM
DPOEJUJPO "MUIPVHI
XF
IBWF
JNQMFNFOUFE
QPMJDJFT
BOE
QSPDFEVSFT
JO
UIFTF
BSFBT
XF
DBOOPU
BTTVSF
ZPV
UIBU
PVS
QPMJDJFT
BOE
QSPDFEVSFT BSF
TVGGJDJFOU
PS
UIBU
EJSFDUPST
PGGJDFST
FNQMPZFFT
SFQSFTFOUBUJWFT
EJTUSJCVUPST
DPOTVMUBOUT
*(0T
EFBMFST
BOE
SFTFMMFST
KPJOU WFOUVSF
QBSUOFST
JOEFQFOEFOU
BHFOUT
WFOEPST
DVTUPNFST
PS
TVCTDSJCFST
IBWF
OPU
FOHBHFE
BOE
XJMM
OPU
FOHBHF
JO
DPOEVDU
GPS
XIJDI XF
NBZ
CF
IFME
SFTQPOTJCMF
8F
DBOOPU
BTTVSF
ZPV
UIBU
PVS
CVTJOFTT
QBSUOFST
IBWF
OPU
FOHBHFE
BOE
XJMM
OPU
FOHBHF
JO
DPOEVDU UIBU
DPVME
NBUFSJBMMZ
BGGFDU
UIFJS
BCJMJUZ
UP
QFSGPSN
UIFJS
DPOUSBDUVBM
PCMJHBUJPOT
UP
VT
PS
SFTVMU
JO
VT
CFJOH
IFME
MJBCMF
GPS
TVDI DPOEVDU
7JPMBUJPOT
PG
UIF
'$1"
0'"$
SFTUSJDUJPOT
PS
PUIFS
FYQPSU
DPOUSPM
BOUJDPSSVQUJPO
BOUJNPOFZMBVOEFSJOH
BOE
BOUJ UFSSPSJTN
MBXT
PS
SFHVMBUJPOT
NBZ
SFTVMU
JO
TFWFSF
DSJNJOBM
PS
DJWJM
TBODUJPOT
BOE
XF
NBZ
CF
TVCKFDU
UP
PUIFS
MJBCJMJUJFT
XIJDI DPVME
IBWF
B
NBUFSJBM
BEWFSTF
FGGFDU
PO
PVS
CVTJOFTT
GJOBODJBM
DPOEJUJPO
DBTI
GMPXT
BOE
SFTVMUT
PG
PQFSBUJPOT 5IF
6OJUFE
,JOHEPN
BOE
&VSPQFBO
6OJPO
BSF
JNQPSUBOU
NBSLFUT
UP
PVS
CVTJOFTT
5IF
VODFSUBJOUZ
TVSSPVOEJOH
UIF
6OJUFE ,JOHEPNT
EFDJTJPO
UP
MFBWF
UIF
&VSPQFBO
6OJPO
DPVME
BEWFSTFMZ
JNQBDU
PVS
CVTJOFTT
SFTVMUT
PG
PQFSBUJPOT
BOE
GJOBODJBM DPOEJUJPO 8F
TFMM
PVS
QSPEVDUT
BOE
TFSWJDFT
JO
UIF
6OJUFE
,JOHEPN
UIF
a6,b
BOE
UISPVHIPVU
&VSPQF
*O
QBSUJDVMBS
UIF
6OJUFE
,JOHEPN JT
UIF
MBSHFTU
NBSLFU
JO
&VSPQF
GPS
PVS
4105
QSPEVDU
GBNJMZ
0O
+VOF


UIF
6,
WPUFE
JO
BO
BEWJTPSZ
SFGFSFOEVN
GPS
UIF 6,
UP
MFBWF
UIF
&VSPQFBO
6OJPO
UIF
a&6b
BOE
TVCTFRVFOUMZ
PO
.BSDI


UIF
6,
HPWFSONFOU
CFHBO
UIF
GPSNBM
QSPDFTT PG
MFBWJOH
UIF
&6
5IF
6,
XJUIESFX
GSPN
UIF
&6
PO
+BOVBSZ


5IF
FYJU
QSPDFTT
DPNNPOMZ
SFGFSSFE
UP
BT
a#SFYJUb
XJMM JOWPMWF
UIF
OFHPUJBUJPO
PG
OFX
USBEF
BOE
PUIFS
BHSFFNFOUT #SFYJU
DSFBUFT
MFHBM
SFHVMBUPSZ
BOE
FDPOPNJD
VODFSUBJOUZ
UIBU
DPVME
IBWF
B
OFHBUJWF
JNQBDU
PO
PVS
CVTJOFTT
*G
UIF
6,
DIBOHFT UIF
SFHVMBUPSZ
TUSVDUVSF
GPS
UFMFDPNNVOJDBUJPOT
QSPEVDUT
JU
JT
QPTTJCMF
UIBU
XF
XPVME
OPU
CF
BCMF
UP
DPNQMZ
PS
DPNQMJBODF
XPVME CFDPNF
DPTU
QSPIJCJUJWF
4JNJMBSMZ
QPTU#SFYJU
USBEF
BHSFFNFOUT
DPVME
JNQPTF
JNQPSU
UBYFT
PS
PUIFS
FYQFOTFT
PO
PVS
QSPEVDUT XIJDI
NBZ
JODSFBTF
UIF
QSJDF
PG
PVS
QSPEVDUT
TPME
JO
UIF
6, 8F
BMTP
GBDF
DVSSFODZ
FYDIBOHF
SJTL
BT
B
SFTVMU
PG
#SFYJU
"MUIPVHI
NPTU
PG
PVS
TBMFT
BSF
EFOPNJOBUFE
JO
64
EPMMBST
XF BMTP
SFDFJWF
QBZNFOUT
JO
JOUFSOBUJPOBM
DVSSFODJFT
JODMVEJOH
UIF
QPVOE
BOE
UIF
FVSP
8F
UIFSFGPSF
JODVS
DVSSFODZ
USBOTMBUJPO
SJTL XIFO
DVSSFODZ
WBMVFT
GMVDUVBUF
BOE
UIF
64
EPMMBS
JT
TUSPOH
SFMBUJWF
UP
PUIFS
DVSSFODJFT
'VSUIFSNPSF
B
TUSPOH
64
EPMMBS
JODSFBTFT UIF
QSJDF
PG
PVS
QSPEVDUT
JO
JOUFSOBUJPOBM
NBSLFUT
XIJDI
DPVME
SFEVDF
EFNBOE
JO
UIPTF
NBSLFUT
GPS
PVS
QSPEVDUT 5IF
GVUVSF
DPOTFRVFODFT
PG
#SFYJU
BSF
VOLOPXO
BU
UIJT
UJNF
CVU
#SFYJU
IBT
DSFBUFE
MFHBM
SFHVMBUPSZ
BOE
DVSSFODZ
SJTL
UIBU NBZ
IBWF
B
NBUFSJBMMZ
BEWFSTF
JNQBDU
PO
PVS
CVTJOFTT
'VSUIFSNPSF
UIJT
VODFSUBJOUZ
DPVME
OFHBUJWFMZ
JNQBDU
UIF
FDPOPNJFT
PG PUIFS
DPVOUSJFT
JO
XIJDI
XF
PQFSBUF 8F
GBDF
JOUFOTF
DPNQFUJUJPO
JO
BMM
PG
PVS
NBSLFUT
XIJDI
DPVME
SFTVMU
JO
B
MPTT
PG
DVTUPNFST
MPXFS
SFWFOVFT
BOE
EJGGJDVMUZ FOUFSJOH
OFX
NBSLFUT 4BUFMMJUFCBTFE
$PNQFUJUPST 5IFSF
BSF
DVSSFOUMZ
BU
MFBTU
UISFF
PUIFS
.44
PQFSBUPST
QSPWJEJOH
TFSWJDFT
TJNJMBS
UP
PVST
PO
B
HMPCBM
PS
SFHJPOBM
CBTJT
*SJEJVN 5IVSBZB
BOE
*ONBSTBU
03#$0..
*OD
JT
BMTP
B
DPNQFUJUPS
JO
UIF
.BDIJOFUP.BDIJOF
BOE
*P5
NBSLFU
5IF
QSPWJTJPO
PG
TBUFMMJUF CBTFE
QSPEVDUT
BOE
TFSWJDFT
JT
TVCKFDU
UP
EPXOXBSE
QSJDF
QSFTTVSF
XIFO
UIF
DBQBDJUZ
FYDFFET
EFNBOE
PS
BT
OFX
DPNQFUJUPST
FOUFS UIF
NBSLFUQMBDF
XJUI
DPNQFUJUJWF
QSJDJOH
TUSBUFHJFT
8F
BMTP
GBDF
DPNQFUJUJPO
XJUI
SFTQFDU
UP
OFUXPSL
DPWFSBHF
BOE
NBSLFU
TIBSF JO
TQFDJBMJ[FE
JOEVTUSJFT
TVDI
BT
NBSJUJNF
BOE
HPWFSONFOUBM

 0UIFS
QSPWJEFST
PG
TBUFMMJUFCBTFE
QSPEVDUT
DPVME
JOUSPEVDF
UIFJS
PXO
QSPEVDUT
TJNJMBS
UP
PVS
4105
$PNNFSDJBM
*P5
PS
%VQMFY QSPEVDUT
XIJDI
NBZ
NBUFSJBMMZ
BEWFSTFMZ
BGGFDU
PVS
CVTJOFTT
QMBO
BOE
TBMFT
WPMVNF
*O
BEEJUJPO
XF
NBZ
GBDF
DPNQFUJUJPO
GSPN OFX
DPNQFUJUPST
PS
OFX
UFDIOPMPHJFT
.BOZ
DPNQBOJFT
UBSHFU
UIF
TBNF
DVTUPNFST
BOE
XF
NBZ
OPU
CF
BCMF
UP
TVDDFTTGVMMZ
SFUBJO PVS
FYJTUJOH
DVTUPNFST
PS
BUUSBDU
OFX
DVTUPNFST
"T
B
SFTVMU
XF
NBZ
OPU
HSPX
PVS
DVTUPNFS
CBTF
BOE
SFWFOVF 5FSSFTUSJBM
$PNQFUJUPST *O
BEEJUJPO
UP
PVS
TBUFMMJUFCBTFE
DPNQFUJUPST
UFSSFTUSJBM
XJSFMFTT
WPJDF
BOE
EBUB
TFSWJDF
QSPWJEFST
BSF
DPOUJOVJOH
UP
FYQBOE JOUP
SVSBM
BOE
SFNPUF
BSFBT
QBSUJDVMBSMZ
JO
MFTT
EFWFMPQFE
DPVOUSJFT
5IFZ
QSPWJEF
UIF
TBNF
HFOFSBM
UZQFT
PG
TFSWJDFT
BOE
QSPEVDUT UIBU
XF
QSPWJEF
UISPVHI
PVS
TBUFMMJUFCBTFE
TZTUFN
.BOZ
PG
UIFTF
DPNQBOJFT
IBWF
HSFBUFS
SFTPVSDFT
NPSF
OBNF
SFDPHOJUJPO
BOE OFXFS
UFDIOPMPHJFT
UIBO
XF
EP
*OEVTUSZ
DPOTPMJEBUJPO
DPVME
BEWFSTFMZ
BGGFDU
VT
CZ
JODSFBTJOH
UIF
TDBMF
PS
TDPQF
PG
PVS
DPNQFUJUPST BOE
UIFSFCZ
NBLJOH
JU
NPSF
EJGGJDVMU
GPS
VT
UP
DPNQFUF
8F
DPVME
MPTF
NBSLFU
TIBSF
BOE
SFWFOVF
BT
B
SFTVMU
PG
JODSFBTJOH
DPNQFUJUJPO GSPN
MBOECBTFE
DPNNVOJDBUJPO
TFSWJDF
QSPWJEFST "MUIPVHI
TBUFMMJUF
DPNNVOJDBUJPOT
TFSWJDFT
BOE
HSPVOECBTFE
DPNNVOJDBUJPOT
TFSWJDFT
BSF
OPU
JEFOUJDBM
UIF
UXP
DPNQFUF JO
TJNJMBS
NBSLFUT
XJUI
TJNJMBS
TFSWJDFT
$POTVNFST
NBZ
QFSDFJWF
DFMMVMBS
WPJDF
DPNNVOJDBUJPO
QSPEVDUT
BOE
TFSWJDFT
BT
DIFBQFS BOE
NPSF
DPOWFOJFOU
UIBO
TBUFMMJUFCBTFE
QSPEVDUT
BOE
TFSWJDFT 5FSSFTUSJBM
#SPBECBOE
/FUXPSL
$PNQFUJUPST 8F
BMTP
FYQFDU
UP
DPNQFUF
XJUI
B
OVNCFS
PG
PUIFS
TBUFMMJUF
DPNQBOJFT
UIBU
QMBO
UP
EFWFMPQ
UFSSFTUSJBM
OFUXPSLT
UIBU
VUJMJ[F UIFJS
.44
TQFDUSVN
%*4)
/FUXPSL
SFDFJWFE
'$$
BQQSPWBM
UP
PGGFS
UFSSFTUSJBM
XJSFMFTT
TFSWJDFT
PWFS
UIF
.44
TQFDUSVN
UIBU QSFWJPVTMZ
CFMPOHFE
UP
5FSSF4UBS
BOE
*$0
(MPCBM
'VSUIFS
-JHBEP
/FUXPSLT
GPSNFSMZ
-JHIU4RVBSFE
DPOUJOVFT
UP
TFFL
GJOBM
'$$ BQQSPWBM
UP
CVJME
PVU
B
XJSFMFTT
OFUXPSL
VUJMJ[JOH
JUT
.44
TQFDUSVN
"OZ
PG
UIFTF
DPNQFUJUPST
DPVME
EFQMPZ
UFSSFTUSJBM
NPCJMF CSPBECBOE
OFUXPSLT
CFGPSF
XF
EP
DPVME
DPNCJOF
XJUI
FYJTUJOH
UFSSFTUSJBM
OFUXPSLT
UIBU
QSPWJEF
UIFN
XJUI
HSFBUFS
GJOBODJBM
PS PQFSBUJPOBM
GMFYJCJMJUZ
UIBO
XF
IBWF
PS
DPVME
PGGFS
XJSFMFTT
TFSWJDFT
JODMVEJOH
NPCJMF
CSPBECBOE
TFSWJDFT
UIBU
DVTUPNFST
QSFGFS PWFS
PVST 8F
IBWF
B
TVCTUBOUJBM
BNPVOU
PG
JOEFCUFEOFTT
XIJDI
NBZ
BEWFSTFMZ
BGGFDU
PVS
DBTI
GMPX
BOE
PVS
BCJMJUZ
UP
PQFSBUF
PVS CVTJOFTT
JODMVEJOH
PVS
BCJMJUZ
UP
JODVS
BEEJUJPOBM
JOEFCUFEOFTT "T
PG
%FDFNCFS


UIF
QSJODJQBM
CBMBODF
PG
PVS
EFCU
PCMJHBUJPOT
XBT

NJMMJPO
DPOTJTUJOH
PG

NJMMJPO
VOEFS UIF
'BDJMJUZ
"HSFFNFOU

NJMMJPO
VOEFS
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ

NJMMJPO
PVUTUBOEJOH
VOEFS
UIF
-PBO "HSFFNFOU
XJUI
5IFSNP
BOE

NJMMJPO
VOEFS
UIF

$POWFSUJCMF
4FOJPS
/PUFT
*TTVFE
JO

UIF


/PUFT  0VS
TJHOJGJDBOU
JOEFCUFEOFTT
DPVME
IBWF
TFWFSBM
DPOTFRVFODFT
*U
DPVME
JODSFBTF
PVS
WVMOFSBCJMJUZ
UP
BEWFSTF
FDPOPNJD
JOEVTUSZ PS
DPNQFUJUJWF
EFWFMPQNFOUT
CZ
EJDUBUJOH
UIBU
B
TVCTUBOUJBM
QPSUJPO
PG
DBTI
GMPX
GSPN
PQFSBUJPOT
CF
EFEJDBUFE
UP
UIF
QBZNFOU
PG QSJODJQBM
BOE
JOUFSFTU
PO
PVS
JOEFCUFEOFTT
BOE
UIFSFGPSF
SFEVDJOH
PVS
BCJMJUZ
UP
VTF
PVS
DBTI
GMPX
UP
GVOE
PVS
PQFSBUJPOT
DBQJUBM FYQFOEJUVSFT
SFUVSO
PG
DBQJUBM
UP
TIBSFIPMEFST
BOE
GVUVSF
CVTJOFTT
PQQPSUVOJUJFT
0VS
JOEFCUFEOFTT
DPVME
SFTUSJDU
VT
GSPN
NBLJOH TUSBUFHJD
BDRVJTJUJPOT
CZ
MJNJUJOH
PVS
BCJMJUZ
UP
PCUBJO
BEEJUJPOBM
GJOBODJOH
GPS
XPSLJOH
DBQJUBM
DBQJUBM
FYQFOEJUVSFT
QSPEVDU EFWFMPQNFOU
EFCU
TFSWJDF
SFRVJSFNFOUT
BDRVJTJUJPOT
BOE
HFOFSBM
DPSQPSBUF
BOE
PUIFS
QVSQPTFT
0VS
JOEFCUFEOFTT
DPVME
SFTUSJDU VT
GSPN
QBZJOH
EJWJEFOET
UP
PVS
TIBSFIPMEFST
*U
DPVME
MJNJU
PVS
GMFYJCJMJUZ
JO
QMBOOJOH
GPS
PS
SFBDUJOH
UP
DIBOHFT
JO
PVS
CVTJOFTT PS
JOEVTUSZ
QMBDJOH
VT
BU
B
DPNQFUJUJWF
EJTBEWBOUBHF
DPNQBSFE
UP
DPNQFUJUPST
XIP
BSF
OPU
BT
IJHIMZ
MFWFSBHFE
BT
VT
BOE
XIP UIFSFGPSF
NBZ
CF
BCMF
UP
UBLF
BEWBOUBHF
PG
PQQPSUVOJUJFT
UIBU
PVS
MFWFSBHF
QSFWFOUT
VT
GSPN
FYQMPJUJOH
"EEJUJPOBMMZ
FWFO
UIPVHI PVS
DVSSFOU
EFCU
BHSFFNFOUT
QMBDF
MJNJUT
PO
PVS
BCJMJUZ
UP
JODVS
BEEJUJPOBM
EFCU
JO
UIF
GVUVSF
XF
NBZ
JODVS
BEEJUJPOBM
EFCU
XIJDI DPVME
GVSUIFS
FYBDFSCBUF
UIFTF
SJTLT 3FTUSJDUJWF
DPWFOBOUT
JO
PVS
EFCU
BHSFFNFOUT
NBZ
MJNJU
PVS
PQFSBUJOH
BOE
GJOBODJBM
GMFYJCJMJUZ
BOE
PVS
JOBCJMJUZ
UP
DPNQMZ XJUI
UIFTF
DPWFOBOUT
DPVME
IBWF
TJHOJGJDBOU
JNQMJDBUJPOT 0VS
'BDJMJUZ
"HSFFNFOU
BOE
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
DPOUBJO
B
OVNCFS
PG
TJHOJGJDBOU
SFTUSJDUJPOT
BOE
DPWFOBOUT
4FF /PUF

-POH5FSN
%FCU
BOE
0UIFS
'JOBODJOH
"SSBOHFNFOUT
JO
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
JO
1BSU
**
*UFN

PG
UIJT 3FQPSU
GPS
GVSUIFS
EJTDVTTJPO
PG
PVS
EFCU
DPWFOBOUT
$PNQMZJOH
XJUI
UIFTF
SFTUSJDUJWF
DPWFOBOUT
JODMVEJOH
GJOBODJBM
BOE
OPO GJOBODJBM
DPWFOBOUT
JO
PVS
'BDJMJUZ
"HSFFNFOU
BOE
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
BT
XFMM
BT
UIPTF
UIBU
NBZ
CF
DPOUBJOFE
JO
BOZ BHSFFNFOUT
HPWFSOJOH
GVUVSF
JOEFCUFEOFTT
NBZ
JNQBJS
PVS
BCJMJUZ
UP
GJOBODF
PVS
PQFSBUJPOT
PS
DBQJUBM
OFFET
PS
UP
UBLF
BEWBOUBHF PG
GBWPSBCMF
CVTJOFTT
PQQPSUVOJUJFT
0VS
GBDJMJUZ
BHSFFNFOUT
JODMVEF
B
MJNJUBUJPO
PO
FYQFOEJUVSFT
JO
DPOOFDUJPO
XJUI
TQFDUSVN SJHIUT
PG

NJMMJPO
XIJDI
NBZ
QSPIJCJU
VT
GSPN
NBLJOH
DFSUBJO
FYQFOEJUVSFT
UIBU
XF
DPOTJEFS
BDDSFUJWF
UP
PVS
CVTJOFTT
BOE XPVME
PUIFSXJTF
NBLF
0VS
BCJMJUZ
UP
DPNQMZ
XJUI
UIFTF
DPWFOBOUT
XJMM
EFQFOE
PO
PVS
GVUVSF
QFSGPSNBODF
XIJDI
NBZ
CF
BGGFDUFE CZ
FWFOUT
CFZPOE
PVS
DPOUSPM
0VS
GBJMVSF
UP
DPNQMZ
XJUI
UIFTF
DPWFOBOUT
XPVME
CF
BO
FWFOU
PG
EFGBVMU
"O
FWFOU
PG
EFGBVMU
VOEFS UIF
'BDJMJUZ
"HSFFNFOU
PS
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XPVME
QFSNJU
UIF
MFOEFST
UP
BDDFMFSBUF
UIF
JOEFCUFEOFTT
VOEFS
UIFTF BHSFFNFOUT
5IBU
BDDFMFSBUJPO
XPVME
QFSNJU
IPMEFST
PG
PVS
PCMJHBUJPOT
VOEFS
PUIFS
BHSFFNFOUT
UIBU
DPOUBJO
DSPTTBDDFMFSBUJPO QSPWJTJPOT
UP
BDDFMFSBUF
PVS
PCMJHBUJPOT
UP
UIFN
4FF
1BSU
**
*UFN

.BOBHFNFOUT
%JTDVTTJPO
BOE
"OBMZTJT
PG
'JOBODJBM
$POEJUJPO BOE
3FTVMUT
PG
0QFSBUJPOT
i
-JRVJEJUZ
BOE
$BQJUBM
3FTPVSDFT
PG
UIJT
3FQPSU
GPS
GVSUIFS
EJTDVTTJPO

 1VSTVJOH
TUSBUFHJD
USBOTBDUJPOT
NBZ
DBVTF
VT
UP
JODVS
BEEJUJPOBM
DPTUT
PCMJHBUJPOT
BOE
SJTLT 8F
NBZ
QVSTVF
BDRVJTJUJPOT
NFSHFST
KPJOU
WFOUVSFT
QBSUOFSTIJQT
PS
PUIFS
TUSBUFHJD
USBOTBDUJPOT
PO
BO
PQQPSUVOJTUJD
CBTJT 8F
NBZ
GBDF
DPTUT
BOE
SJTLT
BSJTJOH
GSPN
BOZ
TVDI
USBOTBDUJPOT
5IFTF
NBZ
JODMVEF
MFHBM
PQFSBUJPOBM
GJOBODJBM
BOE
PUIFS
DPTUT BOE
SJTLT
'PS
JOTUBODF
JO

XF
JODVSSFE
BQQSPYJNBUFMZ

NJMMJPO
JO
DPTUT
GPS
DPOTVMUBOUT
BOE
PUIFS
BEWJTPST
SFMBUFE
UP
UIF OPXUFSNJOBUFE
NFSHFS
BOE
SFMBUFE
MJUJHBUJPO
EJTDVTTFE
JO
/PUF

3FMBUFE
1BSUZ
5SBOTBDUJPOT
BOE
/PUF

$POUJOHFODJFT
UP PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
JO
1BSU
**
*UFN

PG
UIJT
3FQPSU *O
BEEJUJPO
JG
XF
DIPPTF
UP
FOHBHF
JO
BOZ
NBKPS
CVTJOFTT
DPNCJOBUJPO
PS
TJNJMBS
TUSBUFHJD
USBOTBDUJPO
XF
NBZ
SFRVJSF TJHOJGJDBOU
FYUFSOBM
GJOBODJOH
JO
DPOOFDUJPO
XJUI
UIF
USBOTBDUJPO
%FQFOEJOH
PO
NBSLFU
DPOEJUJPOT
JOWFTUPS
QFSDFQUJPOT
PG
VT
BOE PUIFS
GBDUPST
XF
NBZ
OPU
CF
BCMF
UP
PCUBJO
DBQJUBM
PO
BDDFQUBCMF
UFSNT
JO
BDDFQUBCMF
BNPVOUT
PS
BU
BQQSPQSJBUF
UJNFT
UP
JNQMFNFOU BOZ
TVDI
USBOTBDUJPO
0VS
'BDJMJUZ
"HSFFNFOU
BOE
PUIFS
EFCU
PCMJHBUJPOT
DPOUBJO
DPWFOBOUT
XIJDI
MJNJU
PVS
BCJMJUZ
UP
FOHBHF
JO TQFDJGJFE
GPSNT
PG
DBQJUBM
USBOTBDUJPOT
XJUIPVU
MFOEFS
DPOTFOU
XIJDI
NBZ
CF
JNQPTTJCMF
UP
PCUBJO
"OZ
TVDI
GJOBODJOH
JG
PCUBJOFE NBZ
GVSUIFS
EJMVUF
PVS
FYJTUJOH
TUPDLIPMEFST 0VS
OFUXPSLT
BOE
UIPTF
PG
PVS
UIJSEQBSUZ
TFSWJDF
QSPWJEFST
BOE
DVTUPNFST
NBZ
CF
WVMOFSBCMF
UP
VOBVUIPSJ[FE
PS
VOMBXGVM BDDFTT
0VS
VTF
PG
QFSTPOBM
JOGPSNBUJPO
DPVME
HJWF
SJTF
UP
DPTUT
BOE
MJBCJMJUJFT
BSJTJOH
GSPN
EFWFMPQJOH
EBUB

QSJWBDZ
MBXT 0VS
OFUXPSL
BOE
UIPTF
PG
PVS
UIJSEQBSUZ
TFSWJDF
QSPWJEFST
BOE
PVS
DVTUPNFST
NBZ
CF
WVMOFSBCMF
UP
VOBVUIPSJ[FE
BDDFTT BUUBDLT
NBMXBSF
EBUB
CSFBDIFT
BOE
PUIFS
TFDVSJUZ
QSPCMFNT
1FSTPOT
XIP
DJSDVNWFOU
TFDVSJUZ
NFBTVSFT
DPVME
XSPOHGVMMZ
PCUBJO PS
VTF
JOGPSNBUJPO
GSPN
TVDI
OFUXPSLT
PS
DBVTF
JOUFSSVQUJPOT
EFMBZT
PS
NBMGVODUJPOT
JO
PVS
PQFSBUJPOT
"
EBUB
CSFBDI
PS
OFUXPSL EJTSVQUJPO
DPVME
IBSN
PVS
SFQVUBUJPO
DBVTF
EFNBOE
GPS
PVS
QSPEVDUT
BOE
TFSWJDFT
UP
GBMM
PS
DPNQSPNJTF
PVS
BCJMJUZ
UP
QVSTVF
PVS CVTJOFTT
QMBOT
"
OVNCFS
PG
TJHOJGJDBOU
XJEFTQSFBE
TFDVSJUZ
CSFBDIFT
DPNQSPNJTFE
DPNQBOJFT
BOE
HPWFSONFOUBM
BHFODJFT
*O TPNF
DBTFT
UIFTF
CSFBDIFT
PSJHJOBUFE
GSPN
PVUTJEF
UIF
6OJUFE
4UBUFT
8F
NBZ
CF
SFRVJSFE
UP
FYQFOE
TJHOJGJDBOU
SFTPVSDFT
UP
QSPUFDU BHBJOTU
UIF
UISFBU
PG
TFDVSJUZ
CSFBDIFT
PS
UP
BMMFWJBUF
QSPCMFNT
JODMVEJOH
SFQVUBUJPOBM
IBSN
BOE
MJUJHBUJPO
DBVTFE
CZ
BOZ
CSFBDIFT *O
BEEJUJPO
PVS
DVTUPNFS
DPOUSBDUT
NBZ
OPU
BEFRVBUFMZ
QSPUFDU
VT
BHBJOTU
MJBCJMJUZ
UP
UIJSE
QBSUJFT
XJUI
XIPN
PVS
DVTUPNFST
DPOEVDU CVTJOFTT
8F
DPMMFDU
BOE
TUPSF
EBUB
JODMVEJOH
PVS
DVTUPNFST
QFSTPOBM
JOGPSNBUJPO
*O
KVSJTEJDUJPOT
BSPVOE
UIF
XPSME
QFSTPOBM
JOGPSNBUJPO JT
JODSFBTJOHMZ
CFDPNJOH
UIF
TVCKFDU
PG
FYUFOTJWF
MFHJTMBUJPO
BOE
SFHVMBUJPOT
UP
QSPUFDU
DPOTVNFSTg
QSJWBDZ
BOE
TFDVSJUZ
JODMVEJOH UIF
&6T
(FOFSBM
%BUB
1SPUFDUJPO
3FHVMBUJPO
UIBU
CFDBNF
FGGFDUJWF
JO

5IF
JOUFSQSFUBUJPO
PG
QSJWBDZ
BOE
EBUB
QSPUFDUJPO
MBXT BOE
SFHVMBUJPOT
SFHBSEJOH
UIF
DPMMFDUJPO
TUPSBHF
USBOTNJTTJPO
VTF
BOE
EJTDMPTVSF
PG
TVDI
JOGPSNBUJPO
JO
TPNF
KVSJTEJDUJPOT
JT VODMFBS
BOE
FWFS
FWPMWJOH
5IFTF
MBXT
NBZ
CF
JOUFSQSFUFE
BOE
BQQMJFE
EJGGFSFOUMZ
GSPN
DPVOUSZ
UP
DPVOUSZ
BOE
JO
B
NBOOFS
UIBU
JT OPU
DPOTJTUFOU
XJUI
PVS
DVSSFOU
EBUB
QSPUFDUJPO
QSBDUJDFT
$PNQMZJOH
XJUI
UIFTF
WBSZJOH
JOUFSOBUJPOBM
SFRVJSFNFOUT
DPVME
DBVTF
VT UP
JODVS
BEEJUJPOBM
DPTUT
PS
DIBOHF
PVS
CVTJOFTT
QSBDUJDFT
0VS
TFSWJDFT
BSF
BDDFTTJCMF
JO
NBOZ
GPSFJHO
KVSJTEJDUJPOT
BOE
TPNF
PG UIFTF
KVSJTEJDUJPOT
NBZ
DMBJN
UIBU
XF
BSF
SFRVJSFE
UP
DPNQMZ
XJUI
UIFJS
MBXT
FWFO
XIFSF
XF
IBWF
OP
MPDBM
FOUJUZ
FNQMPZFFT
PS JOGSBTUSVDUVSF
8F
DPVME
CF
GPSDFE
UP
JODVS
TJHOJGJDBOU
FYQFOTFT
JG
XF
XFSF
SFRVJSFE
UP
NPEJGZ
PVS
QSPEVDUT
TFSWJDFT
PS
FYJTUJOH TFDVSJUZ
BOE
QSJWBDZ
QSPDFEVSFT
JO
PSEFS
UP
DPNQMZ
XJUI
OFX
PS
FYQBOEFE
SFHVMBUJPOT
BDSPTT
OVNFSPVT
KVSJTEJDUJPOT
*O
BEEJUJPO XF
DPVME
GBDF
MJBCJMJUZ
UP
FOE
VTFST
BMMFHJOH
UIBU
UIFJS
QFSTPOBM
JOGPSNBUJPO
JT
OPU
DPMMFDUFE
TUPSFE
USBOTNJUUFE
VTFE
PS
EJTDMPTFE BQQSPQSJBUFMZ
PS
JO
BDDPSEBODF
XJUI
PVS
QSJWBDZ
QPMJDJFT
PS
BQQMJDBCMF
MBXT
JODMVEJOH
DMBJNT
BOE
MJUJHBUJPO
SFTVMUJOH
GSPN
TVDI BMMFHBUJPOT
"OZ
GBJMVSF
PO
PVS
QBSU
UP
QSPUFDU
JOGPSNBUJPO
QVSTVBOU
UP
BQQMJDBCMF
SFHVMBUJPOT
DPVME
SFTVMU
JO
B
MPTT
PG
VTFS
DPOGJEFODF SFQVUBUJPO
BOE
DVTUPNFST
XIJDI
DPVME
NBUFSJBMMZ
JNQBDU
PVS
SFTVMUT
PG
PQFSBUJPOT
BOE
DBTI
GMPXT %VF
UP
GMVDUVBUJPOT
JO
UIF
JOTVSBODF
NBSLFU
XF
NBZ
CF
VOBCMF
UP
PCUBJO
BOE
NBJOUBJO
PVS
JOTVSBODF
DPWFSBHFT
BOE
UIF JOTVSBODF
XF
PCUBJO
NBZ
OPU
DPWFS
BMM
SJTLT
XF
VOEFSUBLF
"T
B
SFTVMU
XF
NBZ
JODVS
NBUFSJBM
VOJOTVSFE
PS
VOEFSJOTVSFE MPTTFT 5IF
QSJDF
UFSNT
BOE
BWBJMBCJMJUZ
PG
JOTVSBODF
IBWF
GMVDUVBUFE
TJHOJGJDBOUMZ
TJODF
XF
CFHBO
PGGFSJOH
DPNNFSDJBM
TBUFMMJUF TFSWJDFT
5IF
DPTU
PG
PCUBJOJOH
JOTVSBODF
DBO
WBSZ
BT
B
SFTVMU
PG
FJUIFS
TBUFMMJUF
GBJMVSFT
PS
HFOFSBM
DPOEJUJPOT
JO
UIF
JOTVSBODF JOEVTUSZ
3JTJOH
QSFNJVNT
PO
JOTVSBODF
QPMJDJFT
DPVME
JODSFBTF
PVS
DPTUT
*O
BEEJUJPO
UP
IJHIFS
QSFNJVNT
JOTVSBODF
QPMJDJFT
NBZ QSPWJEF
GPS
IJHIFS
EFEVDUJCMFT
TIPSUFS
DPWFSBHF
QFSJPET
BOE
BEEJUJPOBM
QPMJDZ
FYDMVTJPOT
0VS
JOTVSBODF
DPVME
CFDPNF
NPSF FYQFOTJWF
BOE
EJGGJDVMU
UP
NBJOUBJO
BOE
NBZ
OPU
CF
BWBJMBCMF
JO
UIF
GVUVSF
PO
DPNNFSDJBMMZ
SFBTPOBCMF
UFSNT
JG
BU
BMM
0VS
GBJMVSF UP
NBJOUBJO
TVGGJDJFOU
JOTVSBODF
DPVME
BMTP
DSFBUF
BO
FWFOU
PG
EFGBVMU
VOEFS
PVS
EFCU
BHSFFNFOUT
0VS
JOTVSBODF
NBZ
OPU
BEFRVBUFMZ DPWFS
MPTTFT
JODVSSFE
BSJTJOH
GSPN

DMBJNT
CSPVHIU
BHBJOTU
VT
PS
PUIFSXJTF
XIJDI
DPVME
CF
NBUFSJBM
1SPEVDU
-JBCJMJUZ
*OTVSBODF
BOE
1SPEVDU
3FQMBDFNFOU
PS
3FDBMM
$PTUT 8F
BSF
TVCKFDU
UP
QSPEVDU
MJBCJMJUZ
BOE
QSPEVDU
SFDBMM
DMBJNT
JG
BOZ
PG
PVS
QSPEVDUT
BOE
TFSWJDFT
BSF
BMMFHFE
UP
IBWF
DBVTFE JOKVSZ
UP
QFSTPOT
PS
EBNBHF
UP
QSPQFSUZ
*G
BOZ
PG
PVS
QSPEVDUT
QSPWF
UP
CF
EFGFDUJWF
XF
NBZ
OFFE
UP
SFDBMM
BOE
SFEFTJHO
UIFN *O
BEEJUJPO
BOZ
DMBJN
PS
QSPEVDU
SFDBMM
UIBU
SFTVMUT
JO
TJHOJGJDBOU
BEWFSTF
QVCMJDJUZ
NBZ
OFHBUJWFMZ
BGGFDU
PVS
CVTJOFTT
GJOBODJBM DPOEJUJPO
PS
SFTVMUT
PG
PQFSBUJPOT
8F
EP
OPU
NBJOUBJO
BOZ
QSPEVDU
SFDBMM
JOTVSBODF
TP
BOZ
QSPEVDU
SFDBMM
XF
BSF
SFRVJSFE
UP
JOJUJBUF DPVME
IBWF
B
TJHOJGJDBOU
JNQBDU
PO
PVS
GJOBODJBM
QPTJUJPO
SFTVMUT
PG
PQFSBUJPOT
PS
DBTI
GMPXT
8F
JOWFTUJHBUF
QPUFOUJBM
RVBMJUZ
JTTVFT BT
QBSU
PG
PVS
POHPJOH
FGGPSU
UP
EFMJWFS
RVBMJUZ
QSPEVDUT
UP
PVS
DVTUPNFST


#FDBVTF
DPOTVNFST
NBZ
VTF
4105
QSPEVDUT
BOE
TFSWJDFT
JO
JTPMBUFE
PS
EBOHFSPVT
MPDBUJPOT
VTFST
PG
PVS
EFWJDFT
XIP
TVGGFS JOKVSZ
PS
EFBUI
NBZ
TFFL
UP
BTTFSU
DMBJNT
BHBJOTU
VT
BMMFHJOH
GBJMVSF
PG
UIF
EFWJDF
UP
GBDJMJUBUF
UJNFMZ
FNFSHFODZ
SFTQPOTF
8F DBOOPU
BTTVSF
JOWFTUPST
UIBU
BOZ
MFHBM
EJTDMBJNFST
XJMM
CF
FGGFDUJWF
PS
JOTVSBODF
DPWFSBHF
XJMM
CF
TVGGJDJFOU
UP
QSPUFDU
VT
GSPN NBUFSJBM
MPTTFT (FOFSBM
-JBCJMJUZ
*OTVSBODF
*O0SCJU
&YQPTVSFT 0VS
MJBCJMJUZ
QPMJDZ
DPWFST
BNPVOUT
VQ
UP
j
NJMMJPO
QFS
PDDVSSFODF
XJUI
B
j
NJMMJPO
BOOVBM
MJNJU
UIBU
XF
BOE
PUIFS TQFDJGJFE
QBSUJFT
NBZ
CFDPNF
MJBCMF
UP
QBZ
GPS
CPEJMZ
JOKVSZ
BOE
QSPQFSUZ
EBNBHFT
UP
UIJSE
QBSUJFT
SFMBUFE
UP
QSPDFTTJOH
NBJOUBJOJOH BOE
PQFSBUJOH
PVS
TBUFMMJUF
DPOTUFMMBUJPO
0VS
DVSSFOU
QPMJDZ
IBT
B
POFZFBS
UFSN
XIJDI
FYQJSFT
JO
0DUPCFS

0VS
DVSSFOU
JO PSCJU
MJBCJMJUZ
JOTVSBODF
QPMJDZ
DPOUBJOT
BOE
XF
FYQFDU
BOZ
GVUVSF
QPMJDJFT
XPVME
MJLFXJTF
DPOUBJO
TQFDJGJFE
FYDMVTJPOT
BOE
NBUFSJBM DIBOHF
MJNJUBUJPOT
DVTUPNBSZ
JO
UIF
JOEVTUSZ
5IFTF
FYDMVTJPOT
NBZ
SFMBUF
UP
BNPOH
PUIFS
UIJOHT
MPTTFT
SFTVMUJOH
GSPN
JOPSCJU DPMMJTJPOT
BDUT
PG
XBS
JOTVSSFDUJPO
UFSSPSJTN
PS
NJMJUBSZ
BDUJPO
HPWFSONFOU
DPOGJTDBUJPO
TUSJLFT
SJPUT
DJWJM
DPNNPUJPOT
MBCPS EJTUVSCBODFT
TBCPUBHF
VOBVUIPSJ[FE
VTF
PG
UIF
TBUFMMJUFT
BOE
OVDMFBS
PS
SBEJPBDUJWF
DPOUBNJOBUJPO
BT
XFMM
BT
DMBJNT
EJSFDUMZ
PS JOEJSFDUMZ
PDDBTJPOFE
BT
B
SFTVMU
PG
OPJTF
QPMMVUJPO
FMFDUSJDBM
BOE
FMFDUSPNBHOFUJD
JOUFSGFSFODF
PS
JOUFSGFSFODF
XJUI
UIF
VTF
PG QSPQFSUZ 0VS
JOPSCJU
JOTVSBODF
EPFT
OPU
DPWFS
MPTTFT
UIBU
NJHIU
BSJTF
BT
B
SFTVMU
PG
B
TBUFMMJUF
GBJMVSF
PUIFS
PQFSBUJPOBM
QSPCMFNT
BGGFDUJOH PVS
DPOTUFMMBUJPO
PS
EBNBHF
SFTVMUJOH
GSPN
EFPSCJUJOH
B
TBUFMMJUF
"T
B
SFTVMU
B
GBJMVSF
PG
POF
PS
NPSF
PG
PVS
TBUFMMJUFT
PS
UIF PDDVSSFODF
PG
FRVJQNFOU
GBJMVSFT
DPMMJTJPO
EBNBHF
PS
PUIFS
SFMBUFE
QSPCMFNT
UIBU
NBZ
SFTVMU
EVSJOH
UIF
EFPSCJUJOH
QSPDFTT
DPVME DPOTUJUVUF
BO
VOJOTVSFE
MPTT
BOE
DPVME
NBUFSJBMMZ
IBSN
PVS
GJOBODJBM
DPOEJUJPO 0VS
TBUFMMJUFT
NBZ
DPMMJEF
XJUI
TQBDF
EFCSJT
XIJDI
DPVME
BEWFSTFMZ
BGGFDU
UIF
QFSGPSNBODF
PG
PVS
DPOTUFMMBUJPO 0VS
BCJMJUZ
UP
NBOFVWFS
PVS
TBUFMMJUFT
UP
BWPJE
QPUFOUJBM
DPMMJTJPOT
XJUI
TQBDF
EFCSJT
JT
MJNJUFE
CZ
BNPOH
PUIFS
GBDUPST VODFSUBJOUJFT
BOE
JOBDDVSBDJFT
JO
UIF
QSPKFDUFE
PSCJU
MPDBUJPO
PG
BOE
QSFEJDUFE
DPOKVODUJPOT
XJUI
EFCSJT
PCKFDUT
USBDLFE
BOE DBUBMPHFE
CZ
UIF
64
HPWFSONFOU
4PNF
TQBDF
EFCSJT
JT
UPP
TNBMM
UP
CF
USBDLFE
BOE
UIFSFGPSF
JUT
PSCJUBM
MPDBUJPO
JT
DPNQMFUFMZ VOLOPXO
%FCSJT
UIBU
DBOOPU
CF
USBDLFE
JT
TUJMM
MBSHF
FOPVHI
UP
QPUFOUJBMMZ
DBVTF
TFWFSF
EBNBHF
UP
PS
GBJMVSF
PG
POF
PG
PVS
TBUFMMJUFT TIPVME
B
DPMMJTJPO
PDDVS
*G
PVS
DPOTUFMMBUJPO
FYQFSJFODFT
TBUFMMJUF
DPMMJTJPOT
XJUI
TQBDF
EFCSJT
PVS
TFSWJDF
DPVME
CF
JNQBJSFE
"OZ TVDI
DPMMJTJPO
DPVME
QPUFOUJBMMZ
FYQPTF
VT
UP
TJHOJGJDBOU
MPTTFT
8F
PQFSBUF
JO
NBOZ
UBY
KVSJTEJDUJPOT
BOE
DIBOHFT
JO
UBY
SBUFT
PS
BEWFSTF
SFTVMUT
PG
UBY
FYBNJOBUJPOT
DPVME
NBUFSJBMMZ JODSFBTF
PVS
DPTUT 8F
PQFSBUF
JO
WBSJPVT
64
BOE
GPSFJHO
UBY
KVSJTEJDUJPOT
5IF
QSPDFTT
PG
EFUFSNJOJOH
PVS
BOUJDJQBUFE
UBY
MJBCJMJUJFT
JOWPMWFT NBOZ
DBMDVMBUJPOT
BOE
FTUJNBUFT
XIJDI
BSF
JOIFSFOUMZ
DPNQMFY
0VS
UBY
PCMJHBUJPOT
BSF
TVCKFDU
UP
SFWJFX
BOE
QPTTJCMF
DIBMMFOHF CZ
UIF
UBYJOH
BVUIPSJUJFT
PG
UIFTF
KVSJTEJDUJPOT
TVDI
BT
UIF
POHPJOH
JODPNF
UBY
SFUVSO
BVEJU
CFJOH
DPOEVDUFE
CZ
UIF
$BOBEB
3FWFOVF "HFODZ
PG
PVS
$BOBEJBO
TVCTJEJBSZ
*G
UBYJOH
BVUIPSJUJFT
XFSF
UP
TVDDFTTGVMMZ
DIBMMFOHF
PVS
DVSSFOU
UBY
QPTJUJPOT
PS
JG
XF
DIBOHFE UIF
NBOOFS
JO
XIJDI
XF
DPOEVDU
DFSUBJO
BDUJWJUJFT
XF
DPVME
CFDPNF
TVCKFDU
UP
NBUFSJBM
VOBOUJDJQBUFE
UBY
MJBCJMJUJFT
8F
NBZ
BMTP CFDPNF
TVCKFDU
UP
BEEJUJPOBM
UBY
MJBCJMJUJFT
BT
B
SFTVMU
PG
DIBOHFT
UP
UBY
MBXT
JO
BOZ
PG
PVS
BQQMJDBCMF
UBY
KVSJTEJDUJPOT
XIJDI
JO DFSUBJO
DJSDVNTUBODFT
DPVME
IBWF
B
SFUSPBDUJWF
FGGFDU 0VS
SFWFOVFT
BSF
TVCKFDU
UP
DIBOHFT
JO
HMPCBM
FDPOPNJD
DPOEJUJPOT
BOE
DPOTVNFS
TFOUJNFOU
BOE
SFHBSEJOH
EJTDSFUJPOBSZ TQFOEJOH 'JOBODJBM
NBSLFUT
BSF
VODFSUBJO
BOE
DPVME
BEWFSTFMZ
JNQBDU
HMPCBM
FDPOPNJD
DPOEJUJPOT
5IFTF
DPOEJUJPOT
DPVME
MFBE
UP SFEVDFE
DPOTVNFS
TQFOEJOH
FTQFDJBMMZ
GPS
EJTDSFUJPOBSZ
USBWFM
BOE
SFMBUFE
QSPEVDUT
"
TVCTUBOUJBM
QPSUJPO
PG
UIF
QPUFOUJBM BEESFTTBCMF
NBSLFU
GPS
PVS
DPOTVNFS
SFUBJM
QSPEVDUT
BOE
TFSWJDFT
SFMBUFT
UP
SFDSFBUJPOBM
VTFST
TVDI
BT
NPVOUBJO
DMJNCFST
DBNQFST LBZBLFST
TQPSU
GJTIFSNFO
BOE
XJMEFSOFTT
IJLFST
5IFTF
QPUFOUJBM
DVTUPNFST
NBZ
SFEVDF
UIFJS
SFDSFBUJPOBM
BDUJWJUJFT
PS
EJTDSFUJPOBSZ TQFOEJOH
EVF
UP
FDPOPNJD
DPOEJUJPOT
XIJDI
DPVME
BEWFSTFMZ
BGGFDU
PVS
CVTJOFTT
GJOBODJBM
DPOEJUJPO
SFTVMUT
PG
PQFSBUJPOT
BOE MJRVJEJUZ 8F
BSF
FYQPTFE
UP
USBEF
DSFEJU
SJTL
JO
UIF
PSEJOBSZ
DPVSTF
PG
PVS
CVTJOFTT
BDUJWJUJFT 8F
BSF
FYQPTFE
UP
SJTL
PG
MPTT
JO
UIF
FWFOU
PG
OPOQFSGPSNBODF
CZ
PVS
DVTUPNFST
PG
UIFJS
PCMJHBUJPOT
UP
VT
4PNF
PG
PVS DVTUPNFST
NBZ
CF
IJHIMZ
MFWFSBHFE
PS
TVCKFDU
UP
UIFJS
PXO
PQFSBUJOH
BOE
SFHVMBUPSZ
SJTLT
.BOZ
PG
PVS
DVTUPNFST
GJOBODF
UIFJS BDUJWJUJFT
UISPVHI
DBTI
GMPX
GSPN
PQFSBUJPOT
UIF
JODVSSFODF
PG
EFCU
PS
UIF
JTTVBODF
PG
FRVJUZ
'SPN
UJNF
UP
UJNF
DSFEJU
JT
MFTT BWBJMBCMF
BOE
BWBJMBCMF
PO
NPSF
SFTUSJDUJWF
UFSNT
5IF
DPNCJOBUJPO
PG
SFEVDUJPO
PG
DBTI
GMPX
SFTVMUJOH
GSPN
EFDMJOFT
JO
DPNNPEJUZ QSJDFT
BOE
UIF
MBDL
PG
BWBJMBCJMJUZ
PG
EFCU
PS
FRVJUZ
GJOBODJOH
NBZ
SFTVMU
JO
B
TJHOJGJDBOU
SFEVDUJPO
JO
PVS
DVTUPNFST
MJRVJEJUZ
BOE BCJMJUZ
UP
NBLF
QBZNFOUT
PS
QFSGPSN
PO
UIFJS
PCMJHBUJPOT
UP
VT
&WFO
JG
PVS
DSFEJU
SFWJFX
BOE
BOBMZTJT
NFDIBOJTNT
XPSL
QSPQFSMZ XF
NBZ
FYQFSJFODF
GJOBODJBM
MPTTFT
JO
PVS
EFBMJOHT
XJUI
PUIFS
QBSUJFT
"OZ
JODSFBTF
JO
UIF
OPOQBZNFOU
PS
OPOQFSGPSNBODF
CZ
PVS DVTUPNFST
DPVME
SFEVDF
PVS
DBTI
GMPXT

 5P
JMMVTUSBUF
PVS
$PNNFSDJBM
*P5
CVTJOFTT
JT
IFBWJMZ
DPODFOUSBUFE
JO
UIF
PJM
BOE
HBT
JOEVTUSZ
BOE
XBT
OFHBUJWFMZ
JNQBDUFE CZ
UIF
EPXOUVSO
JO
UIJT
JOEVTUSZ
JO
SFDFOU
ZFBST
"T
BO
FYBNQMF
PVS
MBSHFTU
DVTUPNFS
EVSJOH

BOE

JT
B
SFTFMMFS
UP
PJM
BOE HBT
DPNQBOJFT
"
IJHIWPMVNF
DVTUPNFS
OPU
QFSGPSNJOH
JUT
USBEF
PCMJHBUJPOT
UP
VT
DPVME
BEWFSTFMZ
BGGFDU
PVS
DBTI
GMPX
BOE
GJOBODJBM DPOEJUJPO
$PODFOUSBUJPOT
PG
DVTUPNFST
JO
DFSUBJO
JOEVTUSJFT
NBZ
GVSUIFS
JODSFBTF
USBEF
DSFEJU
SJTL
UP
PVS
CVTJOFTT
JG
DFSUBJO FYQFSJFODF
B
TJNJMBS
FDPOPNJD
EPXOUVSO
0VS
WBSJBCMF
SBUF
JOEFCUFEOFTT
TVCKFDUT
VT
UP
JOUFSFTU
SBUF
SJTL
XIJDI
DPVME
DBVTF
PVS
EFCU
TFSWJDF
PCMJHBUJPOT
UP
JODSFBTF TJHOJGJDBOUMZ 0VS
PCMJHBUJPOT
VOEFS
PVS
'BDJMJUZ
"HSFFNFOU
CFBS
JOUFSFTU
BU
B
WBSJBCMF
SBUF
"T
B
SFTVMU
BO
JODSFBTF
JO
JOUFSFTU
SBUFT
DPVME SFTVMU
JO
B
TVCTUBOUJBM
JODSFBTF
JO
JOUFSFTU
FYQFOTF "EEJUJPOBMMZ
JO
+VMZ

UIF
'JOBODJBM
$POEVDU
"VUIPSJUZ
JO
UIF
6OJUFE
,JOHEPN
'$"
BOOPVODFE
UIBU
UIF
-JCPS
SBUF XPVME
CF
QIBTFE
PVU
BOE
GJOBODJBM
JOTUJUVUJPOT
XPVME
OP
MPOHFS
OFFE
UP
NBLF
-JCPS
TVCNJTTJPOT
BGUFS

0VS
'BDJMJUZ
"HSFFNFOU QSPWJEFT
GPS
B
GBMMCBDL
SBUF
JO
UIF
FWFOU
-JCPS
JT
VOBCMF
UP
CF
EFUFSNJOFE
"U
UIJT
UJNF
XF
DBOOPU
QSPWJEF
BTTVSBODF
PG
UIF
JNQBDU UIJT
-JCPS
QIBTF
PVU
XJMM
IBWF
PO
PVS
GJOBODJBM
TUBUFNFOUT
BOE
JOUFSOBM
QSPDFTTFT 5IF
MPTT
PG
TLJMMFE
NBOBHFNFOU
BOE
QFSTPOOFM
DPVME
JNQBJS
PVS
PQFSBUJPOT 0VS
QFSGPSNBODF
JT
TVCTUBOUJBMMZ
EFQFOEFOU
PO
UIF
QFSGPSNBODF
BOE
JOTUJUVUJPOBM
LOPXMFEHF
PG
PVS
TFOJPS
NBOBHFNFOU
BOE LFZ
TDJFOUJGJD
BOE
UFDIOJDBM
QFSTPOOFM
'VSUIFS
XF
EFQFOE
PO
UIF
BCJMJUZ
UP
BUUSBDU
UBMFOUFE
FNQMPZFFT
UP
NBJOUBJO
DPOTJTUFOU QFSGPSNBODF
PG
PVS
NBOBHFNFOU
TDJFOUJGJD
BOE
UFDIOJDBM
UFBNT
BOE
UIF
TVDDFTTJPO
PG
JOTUJUVUJPOBM
LOPXMFEHF
-PTJOH
UIF
TFSWJDFT PG
BOZ
NFNCFS
PG
PVS
TFOJPS
NBOBHFNFOU
TDJFOUJGJD
PS
UFDIOJDBM
TUBGG
PS
UIF
JOBCJMJUZ
UP
BUUSBDU
LFZ
FNQMPZFFT
NBZ
TJHOJGJDBOUMZ EFMBZ
PS
QSFWFOU
UIF
BDIJFWFNFOU
PG
CVTJOFTT
PCKFDUJWFT
BOE
DPVME
IBWF
B
NBUFSJBM
BEWFSTF
FGGFDU
PO
PVS
CVTJOFTT
PQFSBUJOH
SFTVMUT BOE
GJOBODJBM
DPOEJUJPO "
OBUVSBM
EJTBTUFS
DPVME
EJNJOJTI
PVS
BCJMJUZ
UP
QSPWJEF
DPNNVOJDBUJPOT
TFSWJDF /BUVSBM
EJTBTUFST
DPVME
EBNBHF
PS
EFTUSPZ
PVS
HSPVOE
TUBUJPOT
BOE
EJTSVQU
TFSWJDF
UP
PVS
DVTUPNFST
*O
BEEJUJPO
UIF
DPMMBUFSBM FGGFDUT
PG
EJTBTUFST
TVDI
BT
GMPPEJOH
NBZ
JNQBJS
EBNBHF
PS
EFTUSPZ
PVS
HSPVOE
FRVJQNFOU
*G
B
OBUVSBM
EJTBTUFS
XFSF
UP
JNQBJS EBNBHF
PS
EFTUSPZ
BOZ
PG
PVS
HSPVOE
GBDJMJUJFT
XF
NBZ
CF
SFOEFSFE
VOBCMF
UP
QSPWJEF
TFSWJDF
UP
PVS
DVTUPNFST
JO
UIF
BGGFDUFE BSFB
FJUIFS
UFNQPSBSJMZ
PS
JOEFGJOJUFMZ
&WFO
JG
PVS
HBUFXBZT
BSF
OPU
BGGFDUFE
CZ
OBUVSBM
EJTBTUFST
PVS
TFSWJDF
DPVME
CF
EJTSVQUFE JG
B
OBUVSBM
EJTBTUFS
EBNBHFT
UIF
QVCMJD
TXJUDI
UFMFQIPOF
OFUXPSL
UFSSFTUSJBM
XJSFMFTT
OFUXPSLT
PS
PVS
BCJMJUZ
UP
DPOOFDU
UP
UIF QVCMJD
TXJUDI
UFMFQIPOF
OFUXPSL
PS
UFSSFTUSJBM
XJSFMFTT
OFUXPSLT
"EEJUJPOBMMZ
UIFSF
BSF
JOIFSFOU
EBOHFST
BOE
SJTL
BTTPDJBUFE
XJUI PVS
TBUFMMJUF
PQFSBUJPOT
JODMVEJOH
UIF
SJTL
PG
JODSFBTFE
SBEJBUJPO
"OZ
TVDI
GBJMVSFT
PS
TFSWJDF
EJTSVQUJPOT
DPVME
IBSN
PVS
CVTJOFTT BOE
SFTVMUT
PG
PQFSBUJPOT
8F
IBWF
CFFO
JO
UIF
QBTU
GSPN
UJNF
UP
UJNF
BOE
NBZ
CF
JO
UIF
GVUVSF
TVCKFDU
UP
MJUJHBUJPO
BOE
JOWFTUJHBUJPOT
UIBU
DPVME IBWF
B
TVCTUBOUJBM
BEWFSTF
JNQBDU
PO
PVS
CVTJOFTT 'SPN
UJNF
UP
UJNF
XF
BSF
TVCKFDU
UP
MJUJHBUJPO
JODMVEJOH
DMBJNT
SFMBUFE
UP
PVS
CVTJOFTT
BDUJWJUJFT
TVDI
BT
UIF
TFDVSJUJFT
DMBJN PS
"DUJPO
EFTDSJCFE
JO
/PUF

$POUJOHFODJFT
JO
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
JO
1BSU
**
*UFN

PG
UIJT
3FQPSU
8F
IBWF BMTP
CFFO
JO
UIF
QBTU
GSPN
UJNF
UP
UJNF
BOE
NBZ
CF
JO
UIF
GVUVSF
TVCKFDU
UP
JOWFTUJHBUJPOT
CZ
SFHVMBUPST
BOE
HPWFSONFOUBM
BHFODJFT JODMVEJOH
GSPN
UIF
6OJUFE
4UBUFT
%FQBSUNFOU
PG
UIF
5SFBTVSZT
0GGJDF
PG
'PSFJHO
"TTFUT
$POUSPM
UIF
6OJUFE
4UBUFT
%FQBSUNFOU
PG $PNNFSDF
#VSFBV
PG
*OEVTUSZ
BOE
4FDVSJUZ
BOE
UIF
6OJUFE
4UBUFT
*NNJHSBUJPO
BOE
$VTUPNT
&OGPSDFNFOU
*SSFTQFDUJWF
PG
UIFJS NFSJUT
MJUJHBUJPO
BOE
JOWFTUJHBUJPOT
NBZ
CF
CPUI
MFOHUIZ
BOE
EJTSVQUJWF
UP
PVS
PQFSBUJPOT
BOE
DPVME
DBVTF
TJHOJGJDBOU
FYQFOEJUVSF BOE
EJWFSTJPO
PG
NBOBHFNFOU
BUUFOUJPO
*O
PVS
PQJOJPO
UIFSF
JT
OP
QFOEJOH
MJUJHBUJPO
JOWFTUJHBUJPO
EJTQVUF
PS
DMBJN
UIBU
DPVME IBWF
B
NBUFSJBM
BEWFSTF
FGGFDU
PO
PVS
GJOBODJBM
DPOEJUJPO
SFTVMUT
PG
PQFSBUJPOT
PS
MJRVJEJUZ
)PXFWFS
XF
NBZ
CF
XSPOH
JO
UIJT BTTFTTNFOU
"EEJUJPOBMMZ
JO
UIF
GVUVSF
XF
NBZ
CFDPNF
TVCKFDU
UP
BEEJUJPOBM
MJUJHBUJPO
UIBU
DPVME
IBWF
B
NBUFSJBM
BEWFSTF
FGGFDU
PO PVS
GJOBODJBM
QPTJUJPO
BOE
PQFSBUJOH
SFTVMUT
PO
UIF
USBEJOH
QSJDF
PG
PVS
TFDVSJUJFT
BOE
PO
PVS
BCJMJUZ
UP
BDDFTT
DBQJUBM
NBSLFUT 8JSFMFTT
EFWJDFT
SBEJP
GSFRVFODZ
FNJTTJPOT
BSF
UIF
TVCKFDU
PG
SFHVMBUJPO
BOE
MJUJHBUJPO
DPODFSOJOH
UIFJS
FOWJSPONFOUBM FGGFDUT
XIJDI
JODMVEFT
BMMFHFE
IFBMUI
BOE
TBGFUZ
SJTLT
"T
B
SFTVMU
XF
NBZ
CF
TVCKFDU
UP
OFX
SFHVMBUJPOT
EFNBOE
GPS
PVS TFSWJDFT
NBZ
EFDSFBTF
BOE
XF
DPVME
GBDF
MJBCJMJUZ
CBTFE
PO
BMMFHFE
IFBMUI
SJTLT 5IFSF
IBT
CFFO
BEWFSTF
QVCMJDJUZ
DPODFSOJOH
BMMFHFE
IFBMUI
SJTLT
BTTPDJBUFE
XJUI
SBEJP
GSFRVFODZ
USBOTNJTTJPOT
GSPN
QPSUBCMF IBOEIFME
UFMFQIPOFT
UIBU
IBWF
USBOTNJUUJOH
BOUFOOBT
-BXTVJUT
IBWF
CFFO
GJMFE
BHBJOTU
QBSUJDJQBOUT
JO
UIF
XJSFMFTT
DPNNVOJDBUJPOT JOEVTUSZ
BMMFHJOH
B
OVNCFS
PG
BEWFSTF
IFBMUI
DPOTFRVFODFT
JODMVEJOH
DBODFS
BT
B
SFTVMU
PG
XJSFMFTT
QIPOF
VTBHF
0UIFS
DMBJNT BMMFHF
DPOTVNFS
IBSN
GSPN
GBJMVSFT
UP
EJTDMPTF
JOGPSNBUJPO
BCPVU
SBEJP
GSFRVFODZ
FNJTTJPOT
PS
BTQFDUT
PG
UIF
SFHVMBUPSZ
SFHJNFT HPWFSOJOH
UIPTF
FNJTTJPOT
"MUIPVHI
XF
IBWF
OPU
CFFO
QBSUZ
UP
BOZ
TVDI
MBXTVJUT
XF
NBZ
CF
FYQPTFE
UP
TVDI
MJUJHBUJPO
JO
UIF GVUVSF
$PVSUT
PS
HPWFSONFOUBM
BHFODJFT
DPVME
EFUFSNJOF
UIBU
XF
EP
OPU
DPNQMZ
XJUI
BQQMJDBCMF
TUBOEBSET
GPS
SBEJP
GSFRVFODZ FNJTTJPOT
BOE
QPXFS
PS
UIBU
UIFSF
JT
WBMJE
TDJFOUJGJD
FWJEFODF
UIBU
VTF
PG
PVS
EFWJDFT
QPTFT
B
IFBMUI
SJTL
"OZ
TVDI
GJOEJOH
DPVME SFEVDF
PVS
SFWFOVF
BOE
QSPGJUBCJMJUZ
BOE
FYQPTF
VT
BOE
PUIFS
DPNNVOJDBUJPOT
TFSWJDF
QSPWJEFST
PS
EFWJDF
TFMMFST
UP
MJUJHBUJPO XIJDI
FWFO
JG
GSJWPMPVT
PS
VOTVDDFTTGVM
DPVME
CF
DPTUMZ
UP
EFGFOE

 *G
DPOTVNFST
IFBMUI
DPODFSOT
PWFS
SBEJP
GSFRVFODZ
FNJTTJPOT
JODSFBTF
UIFZ
NBZ
CF
EJTDPVSBHFE
GSPN
VTJOH
XJSFMFTT
IBOETFUT 'VSUIFS
HPWFSONFOU
BVUIPSJUJFT
NJHIU
JODSFBTF
SFHVMBUJPO
PG
XJSFMFTT
IBOETFUT
BT
B
SFTVMU
PG
IFBMUI
DPODFSOT
"OZ
BDUVBM
PS
QFSDFJWFE SJTL
GSPN
SBEJP
GSFRVFODZ
FNJTTJPOT
DPVME
SFEVDF
UIF
OVNCFS
PG
PVS
TVCTDSJCFST
BOE
EFNBOE
GPS
PVS
QSPEVDUT
BOE
TFSWJDFT 3JTLT
3FMBUFE
UP
(PWFSONFOU
3FHVMBUJPOT 0VS
CVTJOFTT
JT
TVCKFDU
UP
FYUFOTJWF
HPWFSONFOU
SFHVMBUJPO
XIJDI
NBOEBUFT
IPX
XF
NBZ
PQFSBUF
PVS
CVTJOFTT
BOE
NBZ JODSFBTF
PVS
DPTU
PG
QSPWJEJOH
TFSWJDFT
TMPX
PVS
FYQBOTJPO
JOUP
OFX
NBSLFUT
BOE
TVCKFDU
PVS
TFSWJDFT
UP
BEEJUJPOBM DPNQFUJUJWF
QSFTTVSFT 0VS
PXOFSTIJQ
BOE
PQFSBUJPO
PG
BO
.44
TZTUFN
BSF
TVCKFDU
UP
TJHOJGJDBOU
SFHVMBUJPO
JO
UIF
6OJUFE
4UBUFT
CZ
UIF
'$$
BOE
JO GPSFJHO
KVSJTEJDUJPOT
CZ
TJNJMBS
BVUIPSJUJFT
"EEJUJPOBMMZ
PVS
VTF
PG
PVS
MJDFOTFE
TQFDUSVN
HMPCBMMZ
JT
TVCKFDU
UP
DPPSEJOBUJPO
CZ UIF
*56
0VS
TFDPOEHFOFSBUJPO
DPOTUFMMBUJPO
IBT
CFFO
MJDFOTFE
BOE
SFHJTUFSFE
JO
'SBODF
5IF
SVMFT
BOE
SFHVMBUJPOT
PG
UIF
'$$
PS UIFTF
GPSFJHO
BVUIPSJUJFT
NBZ
DIBOHF
BOE
NBZ
OPU
DPOUJOVF
UP
QFSNJU
PVS
PQFSBUJPOT
BT
DVSSFOUMZ
DPOEVDUFE
PS
BT
XF
QMBO
UP
DPOEVDU UIFN
'VSUIFS
DFSUBJO
GPSFJHO
KVSJTEJDUJPOT
NBZ
EFDJEF
UP
BMMPX
BEEJUJPOBM
VTFT
XJUIJO
PVS
*56BMMPDBUJPO
PG
TQFDUSVN
UIBU
NBZ CF
JODPNQBUJCMF
XJUI
PVS
DPOUJOVFE
QSPWJTJPO
PG
.44 'BJMVSF
UP
QSPWJEF
TFSWJDFT
JO
BDDPSEBODF
XJUI
UIF
UFSNT
PG
PVS
MJDFOTFT
PS
GBJMVSF
UP
PQFSBUF
PVS
TBUFMMJUFT
HSPVOE
TUBUJPOT
PS PUIFS
UFSSFTUSJBM
GBDJMJUJFT
JODMVEJOH
UIPTF
OFDFTTBSZ
UP
QSPWJEF
BODJMMBSZ
UFSSFTUSJBM
DPNQPOFOU
"5$
TFSWJDFT
BT
SFRVJSFE
CZ
PVS MJDFOTFT
BOE
BQQMJDBCMF
HPWFSONFOU
SFHVMBUJPOT
DPVME
SFTVMU
JO
UIF
JNQPTJUJPO
PG
HPWFSONFOU
TBODUJPOT
BHBJOTU
VT
VQ
UP
BOE JODMVEJOH
DBODFMMBUJPO
PG
PVS
MJDFOTFT 0VS
TZTUFN
SFRVJSFT
SFHVMBUPSZ
BVUIPSJ[BUJPO
JO
FBDI
PG
UIF
NBSLFUT
JO
XIJDI
XF
PS
UIF
*(0T
QSPWJEF
TFSWJDF
8F
BOE
UIF *(0T
NBZ
OPU
CF
BCMF
UP
PCUBJO
PS
SFUBJO
BMM
SFHVMBUPSZ
BQQSPWBMT
OFFEFE
GPS
PQFSBUJPOT
3FHVMBUPSZ
DIBOHFT
TVDI
BT
UIPTF
SFTVMUJOH GSPN
KVEJDJBM
EFDJTJPOT
PS
BEPQUJPO
PG
USFBUJFT
MFHJTMBUJPO
PS
SFHVMBUJPO
JO
DPVOUSJFT
XIFSF
XF
PQFSBUF
PS
JOUFOE
UP
PQFSBUF
NBZ BMTP
TJHOJGJDBOUMZ
BGGFDU
PVS
CVTJOFTT
#FDBVTF
SFHVMBUJPOT
JO
FBDI
DPVOUSZ
BSF
EJGGFSFOU
XF
NBZ
OPU
CF
BXBSF
JG
TPNF
PG
UIF
*(0T BOEPS
QFSTPOT
XJUI
XIJDI
XF
PS
UIFZ
EP
CVTJOFTT
EP
OPU
IPME
UIF
SFRVJTJUF
MJDFOTFT
BOE
BQQSPWBMT 0VS
DVSSFOU
SFHVMBUPSZ
BQQSPWBMT
DPVME
OPX
CF
PS
DPVME
CFDPNF
JOTVGGJDJFOU
JO
UIF
WJFX
PG
GPSFJHO
SFHVMBUPSZ
BVUIPSJUJFT 'VSUIFSNPSF
BOZ
BEEJUJPOBM
OFDFTTBSZ
BQQSPWBMT
NBZ
OPU
CF
HSBOUFE
PO
B
UJNFMZ
CBTJT
PS
BU
BMM
JO
BMM
KVSJTEJDUJPOT
JO
XIJDI
XF XJTI
UP
PGGFS
TFSWJDFT
BOE
BQQMJDBCMF
SFTUSJDUJPOT
JO
UIPTF
KVSJTEJDUJPOT
DPVME
CFDPNF
VOEVMZ
CVSEFOTPNF 0VS
PQFSBUJPOT
BSF
TVCKFDU
UP
DFSUBJO
SFHVMBUJPOT
PG
UIF
6OJUFE
4UBUFT
4UBUF
%FQBSUNFOUT
%JSFDUPSBUF
PG
%FGFOTF
5SBEF
$POUSPMT UIF
FYQPSU
PG
TBUFMMJUFT
BOE
SFMBUFE
UFDIOJDBM
EBUB
6OJUFE
4UBUFT
5SFBTVSZ
%FQBSUNFOUT
0GGJDF
PG
'PSFJHO
"TTFUT
$POUSPM
GJOBODJBM USBOTBDUJPOT
BOE
USBOTBDUJPOT
XJUI
TBODUJPOFE
QFSTPOT
PS
DPVOUSJFT
BOE
UIF
6OJUFE
4UBUFT
$PNNFSDF
%FQBSUNFOUT
#VSFBV
PG *OEVTUSZ
BOE
4FDVSJUZ
FYQPSU
PG
TBUFMMJUFT
BOE
SFMBUFE
UFDIOJDBM
EBUB
PVS
HBUFXBZT
BOE
QIPOFT
BOE
BT
XFMM
BT
PUIFS
TJNJMBS
GPSFJHO SFHVMBUJPOT
5IFTF
64
BOE
GPSFJHO
PCMJHBUJPOT
BOE
SFHVMBUJPOT
NBZ
MJNJU
PS
EFMBZ
PVS
BCJMJUZ
UP
PGGFS
QSPEVDUT
BOE
TFSWJDFT
JO
B QBSUJDVMBS
DPVOUSZ
8F
NBZ
CF
SFRVJSFE
UP
QSPWJEF
64
BOE
TPNF
GPSFJHO
HPWFSONFOU
MBX
FOGPSDFNFOU
BOE
TFDVSJUZ
BHFODJFT
XJUI DBMM
JOUFSDFQUJPO
TFSWJDFT
BOE
SFMBUFE
HPWFSONFOU
BTTJTUBODF
JO
SFTQFDU
PG
XIJDI
XF
GBDF
MFHBM
PCMJHBUJPOT
BOE
SFTUSJDUJPOT
JO
WBSJPVT KVSJTEJDUJPOT
5IFTF
SFHVMBUJPOT
NBZ
MJNJU
PS
EFMBZ
PVS
BCJMJUZ
UP
PQFSBUF
JO
B
QBSUJDVMBS
DPVOUSZ
PS
FOHBHF
JO
USBOTBDUJPOT
XJUI DFSUBJO
QBSUJFT
BOE
NBZ
JNQPTF
TJHOJGJDBOU
DPNQMJBODF
DPTUT
"T
OFX
MBXT
BOE
SFHVMBUJPOT
BSF
JTTVFE
XF
NBZ
CF
SFRVJSFE
UP
NPEJGZ PVS
CVTJOFTT
QMBOT
PS
PQFSBUJPOT
*G
XF
GBJM
UP
DPNQMZ
XJUI
UIFTF
SFHVMBUJPOT
JO
BOZ
DPVOUSZ
XF
DPVME
CF
TVCKFDU
UP
TBODUJPOT
UIBU DPVME
BGGFDU
NBUFSJBMMZ
BOE
BEWFSTFMZ
PVS
BCJMJUZ
UP
PQFSBUF
JO
UIBU
DPVOUSZ
'BJMVSF
UP
PCUBJO
UIF
BVUIPSJ[BUJPOT
OFDFTTBSZ
UP
VTF PVS
BTTJHOFE
SBEJP
GSFRVFODZ
TQFDUSVN
BOE
UP
EJTUSJCVUF
PVS
QSPEVDUT
JO
DFSUBJO
DPVOUSJFT
DPVME
IBWF
B
NBUFSJBM
BEWFSTF
FGGFDU
PO PVS
BCJMJUZ
UP
HFOFSBUF
SFWFOVF
BOE
PO
PVS
PWFSBMM
DPNQFUJUJWF
QPTJUJPO

 4QFDUSVN
WBMVFT
IJTUPSJDBMMZ
IBWF
CFFO
WPMBUJMF
BOE
NBZ
BHBJO
CF
WPMBUJMF
JO
UIF
GVUVSF
XIJDI
DPVME
DBVTF
UIF
WBMVF
PG
PVS CVTJOFTT
UP
GMVDUVBUF 0VS
CVTJOFTT
QMBO
JODMVEFT
GPSNJOH
TUSBUFHJD
QBSUOFSTIJQT
UP
NBYJNJ[F
UIF
VTF
BOE
WBMVF
PG
PVS
TQFDUSVN
OFUXPSL
BTTFUT BOE
DPNCJOFE
TFSWJDF
PGGFSJOHT
JO
UIF
6OJUFE
4UBUFT
BOE
JOUFSOBUJPOBMMZ
7BMVF
UIBU
XF
NBZ
CF
BCMF
UP
SFBMJ[F
GSPN
UIFTF
QBSUOFSTIJQT XJMM
EFQFOE
JO
QBSU
PO
UIF
WBMVF
BTDSJCFE
UP
PVS
TQFDUSVN
)JTUPSJDBMMZ
WBMVBUJPOT
PG
TQFDUSVN
JO
PUIFS
GSFRVFODZ
CBOET
IBWF
CFFO WPMBUJMF
BOE
XF
DBOOPU
QSFEJDU
UIF
GVUVSF
WBMVF
UIBU
XF
NBZ
CF
BCMF
UP
SFBMJ[F
GPS
PVS
TQFDUSVN
BOE
PUIFS
BTTFUT
*O
BEEJUJPO
UP UIF
FYUFOU
UIBU
UIF
'$$
NBLFT
BEEJUJPOBM
TQFDUSVN
BWBJMBCMF
PS
QSPNPUFT
UIF
NPSF
GMFYJCMF
VTF
PS
HSFBUFS
BWBJMBCJMJUZ
FH
WJB TQFDUSVN
MFBTJOH
PS
OFX
TQFDUSVN
TBMFT
PG
FYJTUJOH
TBUFMMJUF
PS
UFSSFTUSJBM
TQFDUSVN
BMMPDBUJPOT
UIF
BWBJMBCJMJUZ
PG
TVDI
BEEJUJPOBM TQFDUSVN
DPVME
SFEVDF
UIF
WBMVF
UIBU
XF
BSF
BCMF
UP
SFBMJ[F
GPS
PVS
TQFDUSVN 0VS
CVTJOFTT
QMBO
UP
VTF
PVS
MJDFOTFE
.44
TQFDUSVN
UP
QSPWJEF
UFSSFTUSJBM
XJSFMFTT
TFSWJDFT
EFQFOET
VQPO
BDUJPO
CZ
UIJSE QBSUJFT
XIJDI
XF
DBOOPU
DPOUSPM 0VS
CVTJOFTT
QMBO
JODMVEFT
VUJMJ[JOH
PVS
MJDFOTFE
.44
TQFDUSVN
UP
QSPWJEF
UFSSFTUSJBM
XJSFMFTT
TFSWJDFT
JODMVEJOH
NPCJMF CSPBECBOE
BQQMJDBUJPOT
BSPVOE
UIF
XPSME
*O
TVQQPSU
PG
UIFTF
QMBOT
JO
%FDFNCFS

UIF
'$$
BEPQUFE
B
3FQPSU
BOE
0SEFS FTUBCMJTIJOH
SVMFT
QFSNJUUJOH
VT
UP
PGGFS
TVDI
TFSWJDFT
*O
"VHVTU

UIF
'$$
NPEJGJFE
(MPCBMTUBST
.44
MJDFOTFT
HSBOUJOH
JU BVUIPSJUZ
UP
QSPWJEF
UFSSFTUSJBM
CSPBECBOE
TFSWJDFT
PWFS
BQQSPYJNBUFMZ

.)[
PG
JUT
TBUFMMJUF
TQFDUSVN
BU

.)[
UP
 .)[
(MPCBMTUBSgT
.44
MJDFOTFT
JODMVEJOH
JUT
UFSSFTUSJBM
BVUIPSJUZ
BSF
WBMJE
UISPVHI
WBSJPVT
TQFDJGJFE
UFSNT
XIJDI
XF
XJMM
TFFL UP
SFOFX
*O
BEEJUJPO
XF
XJMM
OFFE
UP
DPNQMZ
XJUI
DFSUBJO
DPOEJUJPOT
JO
PSEFS
UP
QSPWJEF
UFSSFTUSJBM
CSPBECBOE
TFSWJDF
VOEFS
PVS .44
MJDFOTFT
JODMVEJOH
PCUBJOJOH
'$$
DFSUJGJDBUJPOT
GPS
PVS
FRVJQNFOU
UIBU
XJMM
VUJMJ[F
UIJT
TQFDUSVN
BVUIPSJUZ
8F
BSF
TFFLJOH TJNJMBS
BQQSPWBMT
JO
WBSJPVT
GPSFJHO
KVSJTEJDUJPOT
JODMVEJOH
BQQMZJOH
GPS
MJDFOTFT
BOE
DPNNFODJOH
EVF
EJMJHFODF
FGGPSUT
8F
DBOOPU HVBSBOUFF
UIBU
TVDI
FGGPSUT
XJMM
CF
TVDDFTTGVM
8F
IBWF
FOUFSFE
JOUP
BHSFFNFOUT
XJUI
NVMUJQMF
UIJSE
QBSUJFT
UP
EFWFMPQ
BO
FDPTZTUFN
PG
SBEJPT
BOE
EFWJDFT
VTJOH
PVS UFSSFTUSJBMMZ
BVUIPSJ[FE
TQFDUSVN
5IFTF
UIJSE
QBSUJFT
JOUFOE
UP
VTF
PVS
UFSSFTUSJBMMZ
BVUIPSJ[FE
TQFDUSVN
UP
PGGFS
XJSFMFTT
TFSWJDFT UP
UIFJS
SFTQFDUJWF
DVTUPNFST
0VS
BOUJDJQBUFE
GVUVSF
SFWFOVFT
BOE
QSPGJUBCJMJUZ
JT
EFQFOEFOU
VQPO
UIF
DPNNFSDJBM
TVDDFTT
PG
UIFJS PGGFSJOHT
'VSUIFS
XF
DBO
QSPWJEF
OP
BTTVSBODF
UIBU
XF
DBO
PCUBJO
BVUIPSJ[BUJPOT
UP
VTF
PVS
.44
TQFDUSVN
GPS
UFSSFTUSJBM
XJSFMFTT TFSWJDFT
JO
BMM
DPVOUSJFT
PS
BOZ
TQFDJGJD
DPVOUSZ
/PS
DBO
XF
QSPWJEF
BOZ
BTTVSBODF
UIBU
BOZ
QBSUJDVMBS
DPVOUSZ
XJMM
OPU
MJDFOTF
UIF UFSSFTUSJBM
VTF
PG
PVS
.44
TQFDUSVN
UP
B
UIJSE
QBSUZ
XJUIPVU
PVS
DPOTFOU 0UIFS
GVUVSF
SFHVMBUPSZ
EFDJTJPOT
DPVME
SFEVDF
PVS
FYJTUJOH
TQFDUSVN
BMMPDBUJPO
PS
JNQPTF
BEEJUJPOBM
TQFDUSVN
TIBSJOH BHSFFNFOUT
PO
VT
XIJDI
DPVME
BEWFSTFMZ
BGGFDU
PVS
TFSWJDFT
BOE
PQFSBUJPOT 6OEFS
UIF
'$$T
QMBO
GPS
.44
JO
PVS
GSFRVFODZ
CBOET
XF
NVTU
TIBSF
GSFRVFODJFT
JO
UIF
6OJUFE
4UBUFT
XJUI
PUIFS
MJDFOTFE .44
PQFSBUPST
5P
EBUF
UIFSF
BSF
OP
PUIFS
BVUIPSJ[FE
$%."CBTFE
.44
PQFSBUPST
BOE
OP
QFOEJOH
BQQMJDBUJPOT
GPS
BVUIPSJ[BUJPO )PXFWFS
UIF
'$$
PS
PUIFS
SFHVMBUPSZ
BVUIPSJUJFT
NBZ
SFRVJSF
VT
UP
TIBSF
TQFDUSVN
XJUI
PUIFS
TZTUFNT
UIBU
BSF
OPU
DVSSFOUMZ MJDFOTFE
CZ
UIF
6OJUFE
4UBUFT
PS
BOZ
PUIFS
KVSJTEJDUJPO
0O
'FCSVBSZ


*SJEJVN
GJMFE
JUT
PXO
QFUJUJPO
GPS
SVMFNBLJOH
TFFLJOH UP
IBWF
UIF
'$$
SFBMMPDBUF

.)[
PG
#JH
-&0
TQFDUSVN
GSPN

.)[
GPS
*SJEJVNgT
FYDMVTJWF
VTF
4VCTFRVFOUMZ *SJEJVN
NPEJGJFE
JUT
QFUJUJPO
SFRVFTUJOH
UIF
BCJMJUZ
UP
TIBSF
BEEJUJPOBM
TQFDUSVN
MJDFOTFE
UP
(MPCBMTUBS
BU

.)[ 0O
/PWFNCFS


*SJEJVN
XJUIESFX
JUT
QFUJUJPO
GPS
SVMFNBLJOH
XJUIPVU
QSFKVEJDF
5IFSF
DBO
CF
OP
BTTVSBODF
IPXFWFS
UIBU *SJEJVN
XJMM
OPU
GJMF
B
TJNJMBS
QFUJUJPO
GPS
SVMFNBLJOH
JO
UIF
GVUVSF
UIBU
SFRVFTUT
FJUIFS
UIF
SFEFTJHOBUJPO
PG
TPNF
BNPVOU
PG
PVS 
()[
TQFDUSVN
GPS
*SJEJVNgT
FYDMVTJWF
VTF
PS
UIF
TIBSJOH
PG
BEEJUJPOBM
TQFDUSVN
MJDFOTFE
UP
VT
"O
BEWFSTF
SFTVMU
JO
UIJT QSPDFFEJOH
DPVME
NBUFSJBMMZ
BGGFDU
PVS
BCJMJUZ
UP
QSPWJEF
CPUI
POFXBZ
BOE
UXPXBZ
NPCJMF
TBUFMMJUF
TFSWJDFT
8F
SFHJTUFSFE
PVS
TFDPOEHFOFSBUJPO
DPOTUFMMBUJPO
XJUI
UIF
*56
UISPVHI
'SBODF
SBUIFS
UIBO
UIF
6OJUFE
4UBUFT
5IF
'SFODI SBEJP
GSFRVFODZ
TQFDUSVN
SFHVMBUPSZ
BHFODZ
"/'3
TVCNJUUFE
UIF
UFDIOJDBM
QBQFST
GJMJOH
UP
UIF
*56
PO
PVS
CFIBMG
JO
+VMZ
 "T
XJUI
UIF
GJSTUHFOFSBUJPO
DPOTUFMMBUJPO
UIF
*56
SFRVJSFT
VT
UP
DPPSEJOBUF
PVS
TQFDUSVN
BTTJHONFOUT
XJUI
PUIFS
BENJOJTUSBUPST BOE
PQFSBUPST
UIBU
VTF
BOZ
QPSUJPO
PG
PVS
TQFDUSVN
GSFRVFODZ
CBOET
8F
BSF
BDUJWFMZ
FOHBHFE
JO
CVU
DBOOPU
QSFEJDU
IPX
MPOH
UIF DPPSEJOBUJPO
QSPDFTT
XJMM
UBLF
IPXFWFS
XF
BSF
BCMF
UP
VTF
UIF
GSFRVFODJFT
EVSJOH
UIF
DPPSEJOBUJPO
QSPDFTT
JO
BDDPSEBODF
XJUI PVS
OBUJPOBM
MJDFOTFT
*O
.BSDI

UIF
'$$
BEPQUFE
BO
PSEFS
SFMBUFE
UP
UIF

()[
CBOE
XIJDI
BNPOH
PUIFS
UIJOHT
FYQBOEFE
UIF
VTF
PG
VOMJDFOTFE UFSSFTUSJBM
NPCJMF
CSPBECBOE
TFSWJDFT
XJUIJO
PVS
$CBOE
'PSXBSE
-JOL
&BSUI
4UBUJPO
UP
4BUFMMJUF
XIJDI
PQFSBUFT
BU
 .)[
"T
QBSU
PG
UIJT
PSEFS
UIF
'$$
BEPQUFE
DFSUBJO
UFDIOJDBM
SFRVJSFNFOUT
GPS
UIF
FYQBOEFE
VOMJDFOTFE
VTF
XJUIJO
PVS
MJDFOTFE TQFDUSVN
XIJDI
XFSF
JOUFOEFE
UP
QSPUFDU
PVS
TFSWJDFT
GSPN
IBSNGVM
JOUFSGFSFODF
)PXFWFS
TJODF
UIF
'$$
PSEFS
IBT
CFFO
BEPQUFE XF
IBWF
JEFOUJGJFE
B
OPUJDFBCMF
JODSFBTF
JO
UIF
BNCJFOU
MFWFM
PG
JOUFSGFSFODF
JO
UIF

()[
CBOE
"MUIPVHI
UIJT
JODSFBTF
EPFT
OPU DVSSFOUMZ
BGGFDU
UIF
RVBMJUZ
PG
PVS
TFSWJDF
UP
DVTUPNFST
TIPVME
UIF
OPJTF
GMPPS
SJTF
BCPWF
B
DFSUBJO
MFWFM
XF
DPVME
FYQFSJFODF
B TJHOJGJDBOU
SFEVDUJPO
JO
PVS
TBUFMMJUF
EPXOMJOL
DBQBDJUZ
SFTVMUJOH
JO
EFHSBEBUJPO
PG
RVBMJUZ
PG
PVS
TFSWJDF
UP
DVTUPNFST
*O
.BZ 
XF
QFUJUJPOFE
UIF
'$$
UP
PQFO
B
/PUJDF
PG
*ORVJSZ
UP
BTTFTT
UIF
QPUFOUJBM
GVUVSF
FGGFDUT
PG
DPOUJOVJOH
UP
BMMPX
VOMJDFOTFE VTF
PG
UIF

()[
CBOE
8F
DBOOPU
BTTVSF
ZPV
UIBU
UIF
'$$
XJMM
UBLF
BOZ
BDUJPO
JO
SFTQPOTF
UP
PVS
/PUJDF
PG
*ORVJSZ
'VSUIFSNPSF PUIFS
SFHVMBUPSZ
KVSJTEJDUJPOT
JOUFSOBUJPOBMMZ
NBZ
BMTP
DPOTJEFS
TJNJMBS
FYQBOEFE
VOMJDFOTFE
VTF
JO
UIF

()[
CBOE
UIBU
NBZ
IBWF B
TJHOJGJDBOU
BEWFSTF
JNQBDU
PO
PVS
BCJMJUZ
UP
QSPWJEF
NPCJMF
TBUFMMJUF
TFSWJDFT

 *G
UIF
'$$
SFWPLFT
NPEJGJFT
PS
GBJMT
UP
SFOFX
PS
BNFOE
PVS
MJDFOTFT
PVS
BCJMJUZ
UP
PQFSBUF
NBZ
CF
DVSUBJMFE 8F
IPME
'$$
MJDFOTFT
GPS
UIF
PQFSBUJPO
PG
DFSUBJO
PG
PVS
TBUFMMJUFT
PVS
64
HBUFXBZT
BOE
PUIFS
HSPVOE
GBDJMJUJFT
BOE
PVS NPCJMF
FBSUI
UFSNJOBMT
UIBU
BSF
TVCKFDU
UP
SFWPDBUJPO
JG
XF
GBJM
UP
TBUJTGZ
TQFDJGJFE
DPOEJUJPOT
PS
NFFU
QSFTDSJCFE
NJMFTUPOFT
5IF '$$
MJDFOTFT
BSF
BMTP
TVCKFDU
UP
NPEJGJDBUJPO
CZ
UIF
'$$
5IFSF
DBO
CF
OP
BTTVSBODF
UIBU
UIF
'$$
XJMM
SFOFX
UIF
'$$
MJDFOTFT XF
IPME
*G
UIF
'$$
SFWPLFT
NPEJGJFT
PS
GBJMT
UP
SFOFX
PS
BNFOE
BOZ
'$$
MJDFOTFT
XF
IPME
PS
JG
XF
GBJM
UP
TBUJTGZ
BOZ
PG
UIF DPOEJUJPOT
PG
PVS
SFTQFDUJWF
'$$
MJDFOTFT
UIFO
XF
NBZ
OPU
CF
BCMF
UP
DPOUJOVF
UP
QSPWJEF
NPCJMF
TBUFMMJUF
DPNNVOJDBUJPOT
TFSWJDFT XIJDI
XPVME
IBWF
B
NBUFSJBM
BEWFSTF
FGGFDU
PO
PS
CVTJOFTT
BOE
PQFSBUJPOT *G
PVS
'SFODI
SFHVMBUPS
PS
BOZ
PUIFS
SFHVMBUPS
SFWPLFT
NPEJGJFT
PS
GBJMT
UP
SFOFX
PS
BNFOE
PVS
MJDFOTFT
PVS
BCJMJUZ
UP PQFSBUF
NBZ
CF
DVSUBJMFE 8F
IPME
MJDFOTFT
JTTVFE
CZ
BOE
TVCKFDU
UP
UIF
DPOUJOVFE
SFHVMBUPSZ
KVSJTEJDUJPO
PG
UIF
'SFODI
.JOJTUSZ
GPS
UIF
&DPOPNZ *OEVTUSZ
BOE
&NQMPZNFOU
'SFODI
.JOJTUSZ
JO
DIBSHF
PG
4QBDF
"DUJWJUJFT
.&43
BOE
"3$&1
UIF
'SFODI
JOEFQFOEFOU BENJOJTUSBUJWF
BVUIPSJUZ
PG
QPTU
BOE
FMFDUSPOJD
DPNNVOJDBUJPOT
SFHVMBUJPOT
GPS
UIF
PQFSBUJPO
PG
PVS
TFDPOEHFOFSBUJPO
TBUFMMJUFT 5IFTF
MJDFOTFT
BSF
TVCKFDU
UP
SFWPDBUJPO
JG
XF
GBJM
UP
TBUJTGZ
TQFDJGJFE
DPOEJUJPOT
PS
NFFU
QSFTDSJCFE
NJMFTUPOFT
5IFTF
MJDFOTFT
BSF BMTP
TVCKFDU
UP
NPEJGJDBUJPO
CZ
UIF
'SFODI
SFHVMBUPST
5IFSF
DBO
CF
OP
BTTVSBODF
UIBU
UIF
'SFODI
SFHVMBUPST
XJMM
SFOFX
UIF
MJDFOTFT XF
IPME
*G
.&43
"3$&1
PS
PUIFS
'SFODI
SFHVMBUPST
SFWPLF
NPEJGZ
PS
GBJM
UP
SFOFX
PS
BNFOE
UIF
MJDFOTFT
XF
IPME
PS
JG
XF
GBJM UP
TBUJTGZ
BOZ
PG
UIF
DPOEJUJPOT
PG
PVS
SFTQFDUJWF
'SFODI
MJDFOTFT
UIFO
XF
NBZ
OPU
CF
BCMF
UP
DPOUJOVF
UP
QSPWJEF
NPCJMF
TBUFMMJUF DPNNVOJDBUJPOT
TFSWJDFT
XIJDI
XPVME
IBWF
B
NBUFSJBM
BEWFSTF
FGGFDU
PO
PVS
CVTJOFTT
BOE
PQFSBUJPOT
'VSUIFSNPSF
JG
XF
PQFSBUF
JO
BOZ
DPVOUSZ
XJUIPVU
B
WBMJE
MJDFOTF
XF
DPVME
GBDF
SFHVMBUPSZ
GJOFT
BOE
DSJNJOBM
TBODUJPOT
8F IPME
DFSUBJO
MJDFOTFT
JO
FBDI
DPVOUSZ
XIFSF
PVS
HSPVOE
JOGSBTUSVDUVSF
JT
MPDBUFE

*G
XF
GBJM
UP
NBJOUBJO
TVDI
MJDFOTFT
XJUIJO
BOZ QBSUJDVMBS
DPVOUSZ
XF
NBZ
OPU
CF
BCMF
UP
DPOUJOVF
UP
PQFSBUF
UIF
HSPVOE
JOGSBTUSVDUVSF
MPDBUFE
XJUIJO
UIBU
DPVOUSZ
XIJDI
DPVME QSFWFOU
VT
GSPN
DPOUJOVJOH
UP
QSPWJEF
NPCJMF
TBUFMMJUF
DPNNVOJDBUJPOT
TFSWJDFT
XJUIJO
UIBU
SFHJPO
'PS
FYBNQMF
"/"5&-
UIF OBUJPOBM
UFMFDPNNVOJDBUJPOT
BHFODZ
PG
#SB[JM
JNQPTFE
B
GJOF
BHBJOTU
VT
CFDBVTF
XF
PQFSBUFE
PVS
HBUFXBZ
TUBUJPOT
JO
#SB[JM XJUIPVU
B
WBMJE
MJDFOTF
XIJMF
XF
XFSF
XPSLJOH
UP
SFOFX
TVDI
MJDFOTF
*O
0DUPCFS

UIJT
NBUUFS
XBT
SFGFSSFE
UP
UIF
#SB[JM
GFEFSBM BVUIPSJUJFT
XIP
BSF
DVSSFOUMZ
QFSGPSNJOH
BO
JOWFTUJHBUJPO
DPODFSOJOH
UIF
BDUJPO
PG
DFSUBJO
FNQMPZFFT
8F
DBOOPU
QSFEJDU
UIF PVUDPNF
PG
UIJT
JOWFTUJHBUJPO
BU
UIJT
UJNF
CVU
UIF
JOWFTUJHBUJPO
BOE
BOZ
QPUFOUJBM
QFOBMUJFT
JT
MJNJUFE
UP
UIF
DFSUBJO
FNQMPZFFT
CFJOH JOWFTUJHBUFE $IBOHFT
JO
JOUFSOBUJPOBM
USBEF
SFHVMBUJPOT
BOE
PUIFS
SJTLT
BTTPDJBUFE
XJUI
GPSFJHO
USBEF
DPVME
BEWFSTFMZ
BGGFDU
PVS
TPVSDJOH GSPN
GPSFJHO
NBOVGBDUVSFST
8F
TPVSDF
PVS
QSPEVDUT
GSPN
CPUI
EPNFTUJD
BOE
GPSFJHO
DPOUSBDU
NBOVGBDUVSFST
UIF
MBSHFTU
DPODFOUSBUJPO
PG
XIJDI
CFJOH
JO $IJOB
5IF
BEPQUJPO
PG
SFHVMBUJPOT
SFMBUFE
UP
UIF
JNQPSUBUJPO
PG
QSPEVDUT
JODMVEJOH
RVPUBT
EVUJFT
UBYFT
BOE
PUIFS
DIBSHFT
PS SFTUSJDUJPOT
PO
JNQPSUFE
HPPET
BOE
DIBOHFT
JO
64
DVTUPNT
QSPDFEVSFT
DPVME
SFTVMU
JO
BO
JODSFBTF
JO
UIF
DPTU
PG
PVS
QSPEVDUT 3FDFOUMZ
UIF
64
JNQPTFE
JODSFBTFE
UBSJGGT
PO
DFSUBJO
JNQPSUT
GSPN
$IJOB
JODMVEJOH
TFWFSBM
PG
PVS
QSPEVDUT
SFTVMUJOH
JO
MPXFS HSPTT
NBSHJO
PO
JNQBDUFE
QSPEVDUT
5IF
DVSSFOU
UBSJGGT
DPVME
JODSFBTF
PS
FYQBOE
UP
BEEJUJPOBM
DBUFHPSJFT
PG
QSPEVDUT
OPU
DVSSFOUMZ DPWFSFE
8F
DBOOPU
QSFEJDU
IPX
BOZ
GVUVSF
UBSJGGT
PS
PUIFS
USBEF
SFTUSJDUJPOT
XJMM
JNQBDU
PVS
CVTJOFTT
CVU
GVSUIFS
USBEF
SFTUSJDUJPOT PO
PVS
QSPEVDUT
NBZ
SFTVMU
JO
GVSUIFS
SFEVDUJPOT
UP
HSPTT
NBSHJO
"EEJUJPOBMMZ
EFMBZT
JO
HPPET
DMFBSJOH
DVTUPNT
PS
UIF
EJTSVQUJPO
PG
JOUFSOBUJPOBM
USBOTQPSUBUJPO
MJOFT
VTFE
CZ
VT
DPVME
SFTVMU JO
PVS
JOBCJMJUZ
UP
EFMJWFS
HPPET
UP
DVTUPNFST
JO
B
UJNFMZ
NBOOFS
PS
UIF
MPTT
PG
TBMFT
BMUPHFUIFS
$VSSFOU
PS
GVUVSF
TPDJBM
BOE FOWJSPONFOUBM
SFHVMBUJPOT
PS
DSJUJDBM
JTTVFT
TVDI
BT
UIPTF
SFMBUJOH
UP
UIF
TPVSDJOH
PG
DPOGMJDU
NJOFSBMT
GSPN
UIF
%FNPDSBUJD
3FQVCMJD PG
UIF
$POHP
PS
UIF
OFFE
UP
FMJNJOBUF
FOWJSPONFOUBMMZ
TFOTJUJWF
NBUFSJBMT
GSPN
PVS
QSPEVDUT
DPVME
SFTUSJDU
UIF
TVQQMZ
PG
DPNQPOFOUT BOE
NBUFSJBMT
VTFE
JO
QSPEVDUJPO
BOE
JODSFBTF
PVS
DPTUT
"OZ
EFMBZ
PS
JOUFSSVQUJPO
UP
PVS
NBOVGBDUVSJOH
QSPDFTT
PS
JO
TIJQQJOH PVS
QSPEVDUT
DPVME
SFTVMU
JO
MPTU
SFWFOVF
XIJDI
XPVME
BEWFSTFMZ
BGGFDU
PVS
CVTJOFTT
GJOBODJBM
DPOEJUJPO
PS
SFTVMUT
PG
PQFSBUJPOT 3JTLT
3FMBUFE
UP
0VS
$PNNPO
4UPDL 0VS
DPNNPO
TUPDL
JT
USBEFE
PO
UIF
/:4&
"NFSJDBO
CVU
DPVME
CF
EFMJTUFE
JO
UIF
GVUVSF
XIJDI
NBZ
JNQBJS
PVS
BCJMJUZ
UP SBJTF
DBQJUBM 0VS
DPNNPO
TUPDL
JT
MJTUFE
PO
UIF
/:4&
"NFSJDBO
VOEFS
UIF
TZNCPM
a(4"5b
#SPLFSEFBMFST
NBZ
CF
MFTT
XJMMJOH
PS
BCMF
UP TFMM
BOEPS
NBLF
B
NBSLFU
JO
PVS
DPNNPO
TUPDL
JG
JU
XFSF
EFMJTUFE
XIJDI
NBZ
NBLF
JU
NPSF
EJGGJDVMU
GPS
TIBSFIPMEFST
UP
EJTQPTF PG
PS
UP
PCUBJO
BDDVSBUF
RVPUBUJPOT
GPS
UIF
QSJDF
PG
PVS
DPNNPO
TUPDL
3FNPWBM
PG
PVS
DPNNPO
TUPDL
GSPN
MJTUJOH
PO
UIF
/:4& "NFSJDBO
NBZ
BMTP
NBLF
JU
NPSF
EJGGJDVMU
GPS
VT
UP
SBJTF
DBQJUBM
UISPVHI
UIF
TBMF
PG
PVS
TFDVSJUJFT
"EEJUJPOBMMZ
JG
PVS
DPNNPO
TUPDL
JT
OPU
MJTUFE
PO
B
64
OBUJPOBM
TUPDL
FYDIBOHF
PS
BQQSPWFE
GPS
RVPUBUJPO
BOE
USBEJOH
PO
B OBUJPOBM
BVUPNBUFE
EFBMFS
RVPUBUJPO
TZTUFN
PS
FTUBCMJTIFE
BVUPNBUFE
PWFSUIFDPVOUFS
USBEJOH
NBSLFU
UIFO
IPMEFST
PG
PVS
 
/PUFT
XPVME
IBWF
UIF
PQUJPO
UP
SFRVJSF
VT
UP
SFQVSDIBTF
UIF
OPUFT
XIJDI
XF
NBZ
MBDL
TVGGJDJFOU
GJOBODJBM
SFTPVSDFT
UP
EP

 3FTUSJDUJWF
DPWFOBOUT
JO
PVS
'BDJMJUZ
"HSFFNFOU
EP
OPU
BMMPX
VT
UP
QBZ
EJWJEFOET
PO
PVS
DPNNPO
TUPDL
GPS
UIF
GPSFTFFBCMF GVUVSF
XIJDI
NBZ
BGGFDU
UIF
NBSLFU
GPS
PVS
TIBSFT
8F
EP
OPU
FYQFDU
UP
QBZ
DBTI
EJWJEFOET
PO
PVS
DPNNPO
TUPDL
0VS
'BDJMJUZ
"HSFFNFOU
DVSSFOUMZ
QSPIJCJUT
UIF
QBZNFOU
PG DBTI
EJWJEFOET
"OZ
GVUVSF
EJWJEFOE
QBZNFOUT
BSF
XJUIJO
UIF
EJTDSFUJPO
PG
PVS
CPBSE
PG
EJSFDUPST
BOE
XJMM
EFQFOE
PO
BNPOH
PUIFS UIJOHT
PVS
SFTVMUT
PG
PQFSBUJPOT
XPSLJOH
DBQJUBM
SFRVJSFNFOUT
DBQJUBM
FYQFOEJUVSF
SFRVJSFNFOUT
GJOBODJBM
DPOEJUJPO
DPOUSBDUVBM SFTUSJDUJPOT
CVTJOFTT
PQQPSUVOJUJFT
BOUJDJQBUFE
DBTI
OFFET
QSPWJTJPOT
PG
BQQMJDBCMF
MBX
BOE
PUIFS
GBDUPST
UIBU
PVS
CPBSE
PG
EJSFDUPST NBZ
EFFN
SFMFWBOU
8F
NBZ
OPU
HFOFSBUF
TVGGJDJFOU
DBTI
GSPN
PQFSBUJPOT
JO
UIF
GVUVSF
UP
QBZ
EJWJEFOET
PO
PVS
DPNNPO
TUPDL
0VS JOBCJMJUZ
UP
QBZ
EJWJEFOET
NBZ
MJNJU
UIF
NBSLFU
GPS
PVS
TIBSFT 5IF
NBSLFU
QSJDF
PG
PVS
DPNNPO
TUPDL
JT
WPMBUJMF
BOE
UIFSF
JT
B
MJNJUFE
NBSLFU
GPS
PVS
TIBSFT
5IF
USBEJOH
QSJDF
PG
PVS
DPNNPO
TUPDL
JT
TVCKFDU
UP
XJEF
GMVDUVBUJPOT
'BDUPST
BGGFDUJOH
UIF
USBEJOH
QSJDF
PG
PVS
DPNNPO TUPDL
NBZ
JODMVEF
CVU
BSF
OPU
MJNJUFE
UP
d BDUVBM
PS
BOUJDJQBUFE
WBSJBUJPOT
JO
PVS
PQFSBUJOH
SFTVMUT d GBJMVSF
JO
UIF
QFSGPSNBODF
PG
PVS
DVSSFOU
PS
GVUVSF
TBUFMMJUFT d DIBOHFT
JO
GJOBODJBM
FTUJNBUFT
CZ
SFTFBSDI
BOBMZTUT
PS
BOZ
GBJMVSF
CZ
VT
UP
NFFU
PS
FYDFFE
BOZ
TVDI
FTUJNBUFT
PS
DIBOHFT JO
UIF
SFDPNNFOEBUJPOT
PG
BOZ
SFTFBSDI
BOBMZTUT
UIBU
FMFDU
UP
GPMMPX
PVS
DPNNPO
TUPDL
PS
UIF
DPNNPO
TUPDL
PG
PVS DPNQFUJUPST d BDUVBM
PS
BOUJDJQBUFE
DIBOHFT
JO
FDPOPNJD
QPMJUJDBM
PS
NBSLFU
DPOEJUJPOT
TVDI
BT
SFDFTTJPOT
PS
JOUFSOBUJPOBM
DVSSFODZ GMVDUVBUJPOT d BDUVBM
PS
BOUJDJQBUFE
DIBOHFT
JO
UIF
SFHVMBUPSZ
FOWJSPONFOU
BGGFDUJOH
PVS
JOEVTUSZ d BDUVBM
PS
BOUJDJQBUFE
TBMFT
PG
DPNNPO
TUPDL
CZ
PVS
DPOUSPMMJOH
TUPDLIPMEFS
PS
PUIFST d DIBOHFT
JO
UIF
NBSLFU
WBMVBUJPOT
PG
PVS
JOEVTUSZ
QFFST
BOE d BOOPVODFNFOU
CZ
VT
PS
PVS
DPNQFUJUPST
PG
TJHOJGJDBOU
BDRVJTJUJPOT
TUSBUFHJD
QBSUOFSTIJQT
EJWFTUJUVSFT
KPJOU
WFOUVSFT
PS PUIFS
TUSBUFHJD
JOJUJBUJWFT 5IF
USBEJOH
QSJDF
PG
PVS
DPNNPO
TUPDL
NBZ
BMTP
EFDMJOF
JO
SFBDUJPO
UP
FWFOUT
UIBU
BGGFDU
PUIFS
DPNQBOJFT
JO
PVS
JOEVTUSZ
FWFO JG
UIFTF
FWFOUT
EP
OPU
EJSFDUMZ
BGGFDU
VT
0VS
TUPDLIPMEFST
NBZ
CF
VOBCMF
UP
SFTFMM
UIFJS
TIBSFT
PG
PVS
DPNNPO
TUPDL
BU
PS
BCPWF UIF
JOJUJBM
QVSDIBTF
QSJDF
"EEJUJPOBMMZ
CFDBVTF
XF
BSF
B
DPOUSPMMFE
DPNQBOZ
UIFSF
JT
B
MJNJUFE
NBSLFU
GPS
PVS
DPNNPO
TUPDL
BOE XF
DBOOPU
BTTVSF
PVS
TUPDLIPMEFST
UIBU
B
USBEJOH
NBSLFU
XJMM
GVSUIFS
EFWFMPQ
PS
QFSTJTU
*O
QFSJPET
PG
MPX
USBEJOH
WPMVNF
TBMFT
PG TJHOJGJDBOU
BNPVOUT
PG
TIBSFT
PG
PVS
DPNNPO
TUPDL
JO
UIF
QVCMJD
NBSLFU
DPVME
MPXFS
UIF
NBSLFU
QSJDF
PG
PVS
TUPDL 5IF
GVUVSF
JTTVBODF
PG
BEEJUJPOBM
TIBSFT
PG
PVS
DPNNPO
TUPDL
DPVME
DBVTF
EJMVUJPO
PG
PXOFSTIJQ
JOUFSFTUT
BOE
BEWFSTFMZ BGGFDU
PVS
TUPDL
QSJDF 8F
NBZ
JTTVF
PVS
QSFWJPVTMZ
BVUIPSJ[FE
BOE
VOJTTVFE
TFDVSJUJFT
SFTVMUJOH
JO
UIF
EJMVUJPO
PG
UIF
PXOFSTIJQ
JOUFSFTUT
PG
PVS DVSSFOU
TUPDLIPMEFST
8F
BSF
BVUIPSJ[FE
UP
JTTVF

CJMMJPO
TIBSFT
PG
DPNNPO
TUPDL
BOE

NJMMJPO
TIBSFT
PG
QSFGFSSFE
TUPDL
"T PG
%FDFNCFS


BQQSPYJNBUFMZ

CJMMJPO
TIBSFT
PG
DPNNPO
TUPDL
XFSF
JTTVFE
BOE
PVUTUBOEJOH
"T
PG
%FDFNCFS

 UIFSF
XFSF

NJMMJPO
TIBSFT
BWBJMBCMF
GPS
GVUVSF
JTTVBODF
PG
XIJDI

NJMMJPO
BSF
EFTJHOBUFE
BT
QSFGFSSFE
PG
XIJDI BQQSPYJNBUFMZ

NJMMJPO
TIBSFT
XFSF
DPOUJOHFOUMZ
JTTVBCMF
VQPO
UIF
FYFSDJTF
PG
TUPDL
PQUJPOT
UIF
DPOWFSTJPO
PG
DPOWFSUJCMF OPUFT
BOE
UIF
WFTUJOH
PG
SFTUSJDUFE
TUPDL
BXBSET
0O
'FCSVBSZ


5IFSNP
DPOWFSUFE
UIF
FOUJSF
QSJODJQBM
BNPVOU
PVUTUBOEJOH VOEFS
JUT

-PBO
"HSFFNFOU
SFTVMUJOH
JO
UIF
JTTVBODF
PG

NJMMJPO
TIBSFT
PG
DPNNPO
TUPDL
UIFTF
TIBSFT
XFSF
JODMVEFE
JO UIF
DPOUJOHFOUMZ
JTTVBCMF
DPVOU
BT
PG
%FDFNCFS


8F
NBZ
JTTVF
BEEJUJPOBM
TIBSFT
PG
PVS
DPNNPO
TUPDL
PS
PUIFS
TFDVSJUJFT UIBU
BSF
DPOWFSUJCMF
JOUP
PS
FYFSDJTBCMF
GPS
DPNNPO
TUPDL
GPS
SBJTJOH
DBQJUBM
PS
PUIFS
CVTJOFTT
QVSQPTFT
'VUVSF
TBMFT
PG
TVCTUBOUJBM BNPVOUT
PG
DPNNPO
TUPDL
PS
UIF
QFSDFQUJPO
UIBU
TVDI
TBMFT
DPVME
PDDVS
NBZ
IBWF
B
NBUFSJBM
BEWFSTF
FGGFDU
PO
UIF
QSJDF
PG
PVS DPNNPO
TUPDL
8F
IBWF
JTTVFE
BOE
NBZ
JTTVF
TIBSFT
PG
QSFGFSSFE
TUPDL
PS
EFCU
TFDVSJUJFT
XJUI
HSFBUFS
SJHIUT
UIBO
PVS
DPNNPO
TUPDL 0VS
DFSUJGJDBUF
PG
JODPSQPSBUJPO
BVUIPSJ[FT
PVS
CPBSE
PG
EJSFDUPST
UP
JTTVF
POF
PS
NPSF
TFSJFT
PG
QSFGFSSFE
TUPDL
BOE
TFU
UIF UFSNT
PG
UIF
QSFGFSSFE
TUPDL
XJUIPVU
TFFLJOH
BOZ
GVSUIFS
BQQSPWBM
GSPN
IPMEFST
PG
PVS
DPNNPO
TUPDL
$VSSFOUMZ
UIFSF
BSF
 NJMMJPO
TIBSFT
PG
QSFGFSSFE
TUPDL
BVUIPSJ[FE
"OZ
QSFGFSSFE
TUPDL
UIBU
JT
JTTVFE
NBZ
SBOL
BIFBE
PG
PVS
DPNNPO
TUPDL
JO
UFSNT
PG EJWJEFOET
QSJPSJUJFT
BOE
MJRVJEBUJPO
QSFNJVNT
BOE
IBWF
QSFGFSFOUJBM
WPUJOH
SJHIUT
UP
UIPTF
IFME
CZ
UIF
IPMEFST
PG
PVS
DPNNPO TUPDL

 *G
QFSTPOT
FOHBHF
JO
TIPSU
TBMFT
PG
PVS
DPNNPO
TUPDL
UIF
QSJDF
PG
PVS
DPNNPO
TUPDL
NBZ
EFDMJOF
4FMMJOH
TIPSU
JT
B
UFDIOJRVF
VTFE
CZ
B
TUPDLIPMEFS
UP
UBLF
BEWBOUBHF
PG
BO
BOUJDJQBUFE
EFDMJOF
JO
UIF
QSJDF
PG
B
TFDVSJUZ
" TJHOJGJDBOU
OVNCFS
PG
TIPSU
TBMFT
PS
B
MBSHF
WPMVNF
PG
PUIFS
TBMFT
XJUIJO
B
SFMBUJWFMZ
TIPSU
QFSJPE
PG
UJNF
DBO
DSFBUF
EPXOXBSE QSFTTVSF
PO
UIF
NBSLFU
QSJDF
PG
B
TFDVSJUZ
'VSUIFS
TBMFT
PG
DPNNPO
TUPDL
DPVME
DBVTF
FWFO
HSFBUFS
EFDMJOFT
JO
UIF
QSJDF
PG
PVS DPNNPO
TUPDL
EVF
UP
UIF
OVNCFS
PG
BEEJUJPOBM
TIBSFT
BWBJMBCMF
JO
UIF
NBSLFU
XIJDI
DPVME
FODPVSBHF
TIPSU
TBMFT
UIBU
DPVME
GVSUIFS VOEFSNJOF
UIF
WBMVF
PG
PVS
DPNNPO
TUPDL
)PMEFST
PG
PVS
TFDVSJUJFT
DPVME
UIFSFGPSF
FYQFSJFODF
B
EFDMJOF
JO
UIF
WBMVF
PG
UIFJS JOWFTUNFOU
BT
B
SFTVMU
PG
TIPSU
TBMFT
PG
PVS
DPNNPO
TUPDL
1SPWJTJPOT
JO
PVS
DIBSUFS
EPDVNFOUT
EFCU
BHSFFNFOUT
BOE
%FMBXBSF
DPSQPSBUF
MBX
NBZ
EJTDPVSBHF
UBLFPWFST
XIJDI
DPVME BGGFDU
UIF
SJHIUT
PG
IPMEFST
PG
PVS
DPNNPO
TUPDL
BOE
DPOWFSUJCMF
OPUFT
1SPWJTJPOT
PG
%FMBXBSF
MBX
BOE
PVS
BNFOEFE
BOE
SFTUBUFE
DFSUJGJDBUF
PG
JODPSQPSBUJPO
BNFOEFE
BOE
SFTUBUFE
CZMBXT
BOE
PVS EFCU
BHSFFNFOUT
DPVME
IBNQFS
B
UIJSE
QBSUZT
BDRVJTJUJPO
PG
VT
PS
EJTDPVSBHF
B
UIJSE
QBSUZ
GSPN
BUUFNQUJOH
UP
BDRVJSF
DPOUSPM
PG VT
5IFTF
QSPWJTJPOT
JODMVEF
d UIF
FMFDUJPO
PG
PVS
.JOPSJUZ
%JSFDUPST
CZ
B
QMVSBMJUZ
PG
UIF
WPUF
PG
PVS
TUPDLIPMEFST
PUIFS
UIBO
5IFSNP d UIF
SFRVJSFNFOU
UIBU
J
BOZ
FYUSBPSEJOBSZ
DPSQPSBUF
USBOTBDUJPO
TVDI
BT
B
NFSHFS
SFPSHBOJ[BUJPO
PS
MJRVJEBUJPO
JOWPMWJOH VT
PS
BOZ
PG
PVS
TVCTJEJBSJFT
BOE
JJ
BOZ
TBMF
PS
USBOTGFS
PG
B
NBUFSJBM
BNPVOU
PG
BTTFUT
PG
(MPCBMTUBS
PS
BOZ
TBMF
PS
USBOTGFS PG
BTTFUT
PG
BOZ
PG
PVS
TVCTJEJBSJFT
XIJDI
BSF
NBUFSJBM
UP
VT
IBT
UP
CF
BQQSPWFE
CZ
UIF
4USBUFHJD
3FWJFX
$PNNJUUFF
VOUJM TVDI
UJNF
BT
5IFSNP
OP
MPOHFS
CFOFGJDJBMMZ
PXOT
BU
MFBTU

PG
PVS
DPNNPO
TUPDL d UIF
BCJMJUZ
PG
PVS
CPBSE
PG
EJSFDUPST
UP
JTTVF
QSFGFSSFE
TUPDL
XJUI
WPUJOH
SJHIUT
PS
XJUI
SJHIUT
TFOJPS
UP
UIPTF
PG
UIF
DPNNPO TUPDL
XJUIPVU
BOZ
GVSUIFS
WPUF
PS
BDUJPO
CZ
UIF
IPMEFST
PG
PVS
DPNNPO
TUPDL d UIF
EJWJTJPO
PG
PVS
CPBSE
PG
EJSFDUPST
JOUP
UISFF
TFQBSBUF
DMBTTFT
TFSWJOH
TUBHHFSFE
UISFFZFBS
UFSNT d UIF
GBDU
UIBU
JG
5IFSNP
EPFT
OPU
PXO
B
NBKPSJUZ
PG
PVS
PVUTUBOEJOH
DBQJUBM
TUPDL
FOUJUMFE
UP
WPUF
JO
UIF
FMFDUJPO
PG
EJSFDUPST PVS
EJSFDUPST
XJMM
CF
BCMF
UP
CF
SFNPWFE
GPS
DBVTF
POMZ
XJUI
UIF
BGGJSNBUJWF
WPUF
PG
UIF
IPMEFST
PG
BU
MFBTU


PG
UIF PVUTUBOEJOH
TIBSFT
PG
DBQJUBM
TUPDL
FOUJUMFE
UP
WPUF
JO
UIF
FMFDUJPO
PG
EJSFDUPST d QSPIJCJUJPOT
BU
TVDI
UJNF
XIFO
5IFSNP
EPFT
OPU
PXO
B
NBKPSJUZ
PG
PVS
PVUTUBOEJOH
DBQJUBM
TUPDL
FOUJUMFE
UP
WPUF
JO
UIF FMFDUJPO
PG
EJSFDUPST
PO
PVS
TUPDLIPMEFST
BDUJOH
CZ
XSJUUFO
DPOTFOU d QSPIJCJUJPOT
PO
PVS
TUPDLIPMEFST
DBMMJOH
TQFDJBM
NFFUJOHT
PG
TUPDLIPMEFST
PS
GJMMJOH
WBDBODJFT
PO
PVS
CPBSE
PG
EJSFDUPST d UIF
SFRVJSFNFOU
BU
TVDI
UJNF
XIFO
5IFSNP
EPFT
OPU
PXO
B
NBKPSJUZ
PG
PVS
PVUTUBOEJOH
DBQJUBM
TUPDL
FOUJUMFE
UP
WPUF
JO UIF
FMFDUJPO
PG
EJSFDUPST
UIBU
PVS
TUPDLIPMEFST
NVTU
PCUBJO
B
TVQFSNBKPSJUZ
WPUF
UP
BNFOE
PS
SFQFBM
PVS
BNFOEFE
BOE SFTUBUFE
DFSUJGJDBUF
PG
JODPSQPSBUJPO
PS
CZMBXT d DIBOHF
PG
DPOUSPM
QSPWJTJPOT
JO
PVS
'BDJMJUZ
"HSFFNFOU
BOE
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XIJDI
QSPWJEF
UIBU
B
DIBOHF PG
DPOUSPM
XJMM
DPOTUJUVUF
BO
FWFOU
PG
EFGBVMU
BOE
VOMFTT
XBJWFE
CZ
UIF
MFOEFST
XJMM
SFTVMU
JO
UIF
BDDFMFSBUJPO
PG
UIF NBUVSJUZ
PG
BMM
JOEFCUFEOFTT
VOEFS
UIBU
BHSFFNFOU d DIBOHF
PG
DPOUSPM
QSPWJTJPOT
SFMBUJOH
UP
PVS


/PUFT
XIJDI
QSPWJEF
UIBU
B
DIBOHF
PG
DPOUSPM
XJMM
QFSNJU
IPMEFST PG
UIPTF
OPUFT
UP
EFNBOE
JNNFEJBUF
SFQBZNFOU
BOE d DIBOHF
PG
DPOUSPM
QSPWJTJPOT
JO
PVS

&RVJUZ
*ODFOUJWF
1MBO
XIJDI
QSPWJEF
UIBU
B
DIBOHF
PG
DPOUSPM
NBZ
BDDFMFSBUF UIF
WFTUJOH
PG
BMM
PVUTUBOEJOH
TUPDL
PQUJPOT
TUPDL
BQQSFDJBUJPO
SJHIUT
BOE
SFTUSJDUFE
TUPDL 8F
BMTP
BSF
TVCKFDU
UP
4FDUJPO

PG
UIF
%FMBXBSF
(FOFSBM
$PSQPSBUJPO
-BX
XIJDI
TVCKFDU
UP
DFSUBJO
FYDFQUJPOT
QSPIJCJUT VT
GSPN
FOHBHJOH
JO
BOZ
CVTJOFTT
DPNCJOBUJPO
XJUI
BOZ
JOUFSFTUFE
TUPDLIPMEFS
BT
EFGJOFE
JO
UIBU
TFDUJPO
GPS
B
QFSJPE
PG
UISFF ZFBST
GPMMPXJOH
UIF
EBUF
PO
XIJDI
UIBU
TUPDLIPMEFS
CFDBNF
BO
JOUFSFTUFE
TUPDLIPMEFS
5IJT
QSPWJTJPO
EPFT
OPU
BQQMZ
UP
5IFSNP XIJDI
CFDBNF
PVS
QSJODJQBM
TUPDLIPMEFS
QSJPS
UP
PVS
JOJUJBM
QVCMJD
PGGFSJOH
5IFTF
QSPWJTJPOT
BMTP
DPVME
NBLF
JU
NPSF
EJGGJDVMU
GPS
PVS
TUPDLIPMEFST
UP
UBLF
DFSUBJO
DPSQPSBUF
BDUJPOT
BOE
DPVME
MJNJU
UIF QSJDF
UIBU
JOWFTUPST
NJHIU
CF
XJMMJOH
UP
QBZ
JO
UIF
GVUVSF
GPS
TIBSFT
PG
PVS
DPNNPO
TUPDL

 8F
BSF
DPOUSPMMFE
CZ
5IFSNP
XIPTF
JOUFSFTUT
NBZ
DPOGMJDU
XJUI
ZPVST
"T
PG
%FDFNCFS


5IFSNP
PXOFE
BQQSPYJNBUFMZ

PG
PVS
PVUTUBOEJOH
DPNNPO
TUPDL
BEEJUJPOBMMZ
5IFSNP
PXOT DPOWFSUJCMF
OPUFT
BOE
XBSSBOUT
UIBU
NBZ
CF
DPOWFSUFE
JOUP
BEEJUJPOBM
TIBSFT
PG
DPNNPO
TUPDL
"T
QSFWJPVTMZ
EJTDMPTFE
JO
'FCSVBSZ 
5IFSNP
DPOWFSUFE
UIF
FOUJSF
QSJODJQBM
BNPVOU
PVUTUBOEJOH
EVF
VOEFS
JUT

-PBO
"HSFFNFOU
SFTVMUJOH
JO
UIF
JTTVBODF
PG 
NJMMJPO
TIBSFT
PG
WPUJOH
DPNNPO
TUPDL
UIJT
JTTVBODF
JODSFBTFE
5IFSNPT
PXOFSTIJQ
PG
DPNNPO
TUPDL
UP
BQQSPYJNBUFMZ 
"MUIPVHI
FYUSBPSEJOBSZ
DPSQPSBUF
USBOTBDUJPOT
NBUFSJBM
TBMFT
PG
BTTFUT
BOE
DFSUBJO
USBOTBDUJPOT
XJUI
SFMBUFE
QBSUJFT
NVTU
CF BQQSPWFE
CZ
UIF
4USBUFHJD
3FWJFX
$PNNJUUFF
UP
UIF
FYUFOU
UIFTF
BOE
PUIFS
NBUUFST
BSF
BMTP
TVCKFDU
UP
B
WPUF
PG
PVS
TIBSFIPMEFST 5IFSNP
JT
BCMF
UP
DPOUSPM
TVDI
WPUF
5IFTF
NBUUFST
JODMVEF
UIF
FMFDUJPO
PG
DFSUBJO
NFNCFST
PG
PVS
CPBSE
PG
EJSFDUPST
BOE
OVNFSPVT PUIFS
NBUUFST
JODMVEJOH
DIBOHFT
PG
DPOUSPM
BOE
PUIFS
TJHOJGJDBOU
DPSQPSBUF
USBOTBDUJPOT
TP
MPOH
BT
UIFTF
USBOTBDUJPOT
BSF
OPU CFUXFFO
5IFSNP
BOE
(MPCBMTUBS
BOE
VOUJM
TVDI
UJNF
BT
5IFSNP
TIBMM
OP
MPOHFS
CF
UIF
CFOFGJDJBM
PXOFS
PG

PS
NPSF
PG
PVS PVUTUBOEJOH
DPNNPO
TUPDL
8F
IBWF
EFQFOEFE
TVCTUBOUJBMMZ
PO
5IFSNP
UP
QSPWJEF
DBQJUBM
UP
GJOBODF
PVS
CVTJOFTT
*O

BOE

5IFSNP
QVSDIBTFE BO
BHHSFHBUF
PG

NJMMJPO
PG
DPNNPO
TUPDL
BU
QSJDFT
TVCTUBOUJBMMZ
BCPWF
NBSLFU
0O
%FDFNCFS


5IFSNP
BTTVNFE
BMM PG
UIF
PCMJHBUJPOT
BOE
XBT
BTTJHOFE
BMM
PG
UIF
SJHIUT
PUIFS
UIBO
JOEFNOJGJDBUJPO
SJHIUT
PG
UIF
BENJOJTUSBUJWF
BHFOU
BOE
UIF
MFOEFST VOEFS
PVS
BNFOEFE
BOE
SFTUBUFE
DSFEJU
BHSFFNFOU
5P
GVMGJMM
UIF
DPOEJUJPOT
QSFDFEFOU
UP
PVS
'BDJMJUZ
"HSFFNFOU
JO

5IFSNP DPOWFSUFE
UIF
MPBOT
PVUTUBOEJOH
VOEFS
UIF
DSFEJU
BHSFFNFOU
JOUP
FRVJUZ
BOE
UFSNJOBUFE
UIF
DSFEJU
BHSFFNFOU
*O
BEEJUJPO
5IFSNP BOE
JUT
BGGJMJBUFT
EFQPTJUFE

NJMMJPO
JO
B
DPOUJOHFOU
FRVJUZ
BDDPVOU
UP
GVMGJMM
B
DPOEJUJPO
QSFDFEFOU
GPS
CPSSPXJOH
VOEFS
UIF 'BDJMJUZ
"HSFFNFOU
QVSDIBTFE

NJMMJPO
PG
PVS

/PUFT
XIJDI
XFSF
TVCTFRVFOUMZ
DPOWFSUFE
JOUP
TIBSFT
PG
DPNNPO
TUPDL JO

QVSDIBTFE

NJMMJPO
PG
PVS


/PUFT
XIJDI
XFSF
TVCTFRVFOUMZ
DPOWFSUFE
JOUP
TIBSFT
PG
DPNNPO
TUPDL MPBOFE
VT

NJMMJPO
UP
GVOE
PVS
EFCU
TFSWJDF
SFTFSWF
BDDPVOU
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
BOE
GVOEFE
B
UPUBM
PG

NJMMJPO EVSJOH

QVSTVBOU
UP
UIF
UFSNT
PG
UIF
&RVJUZ
$PNNJUNFOU
3FTUSVDUVSJOH
BOE
$POTFOU
"HSFFNFOU
UIF
$PNNPO
4UPDL
1VSDIBTF "HSFFNFOU
BOE
UIF
$PNNPO
4UPDL
1VSDIBTF
BOE
0QUJPO
"HSFFNFOU
*O
+VOF

5IFSNP
QVSDIBTFE

NJMMJPO
PG
PVS
DPNNPO TUPDL
UP
QSPWJEF
GVOET
SFRVJSFE
CZ
PVS
MFOEFST
UP
PCUBJO
BO
BNFOENFOU
UP
PVS
'BDJMJUZ
"HSFFNFOU
*O
0DUPCFS

BOE
%FDFNCFS 
5IFSNP
QVSDIBTFE

NJMMJPO
BOE

NJMMJPO
SFTQFDUJWFMZ
PG
PVS
DPNNPO
TUPDL
JO
DPOOFDUJPO
XJUI
PVS
QVCMJD
TUPDL PGGFSJOHT
*O
+VMZ

5IFSNP
MPBOFE
VT

NJMMJPO
JO
B
4VCPSEJOBUFE
-PBO
"HSFFNFOU
XJUI
PUIFS
VOBGGJMJBUFE
MFOEFST
*O /PWFNCFS

UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
XBT
QBJE
JO
GVMM
XJUI
QSPDFFET
GSPN
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
JO XIJDI
5IFSNP
DPOUSJCVUFE
BO
BEEJUJPOBM

NJMMJPO
GPS
B
UPUBM
QSJODJQBM
MPBO
BNPVOU
PG

NJMMJPO
JO
UIF
4FDPOE
-JFO
5FSN -PBO
'BDJMJUZ
5IFSNP
JT
DPOUSPMMFE
CZ
+BNFT
.POSPF
***
PVS
&YFDVUJWF
$IBJSNBO
5ISPVHI
5IFSNP
.S
.POSPF
IPMET
FRVJUZ
JOUFSFTUT
JO BOE
TFSWFT
BT
BO
FYFDVUJWF
PGGJDFS
PS
EJSFDUPS
PG
B
EJWFSTF
HSPVQ
PG
QSJWBUFMZPXOFE
CVTJOFTTFT
OPU
PUIFSXJTF
SFMBUFE
UP
VT
8F SFJNCVSTF
5IFSNP
BOE
.S
.POSPF
GPS
DFSUBJO
UIJSE
QBSUZ
EPDVNFOUFE
PVUPGQPDLFU
FYQFOTFT
UIFZ
JODVS
JO
DPOOFDUJPO
XJUI
PVS CVTJOFTT
5IF
JOUFSFTUT
PG
5IFSNP
NBZ
DPOGMJDU
XJUI
UIF
JOUFSFTUT
PG
PVS
PUIFS
TUPDLIPMEFST
5IFSNP
NBZ
UBLF
BDUJPOT
JU
CFMJFWFT
XJMM CFOFGJU
JUT
FRVJUZ
JOWFTUNFOU
JO
VT
PS
MPBOT
UP
VT
FWFO
UIPVHI
TVDI
BDUJPOT
NJHIU
OPU
CF
JO
ZPVS
CFTU
JOUFSFTUT
BT
B
IPMEFS
PG
PVS DPNNPO
TUPDL

*UFN
#
6OSFTPMWFE
4UBGG
$PNNFOUT
/PU
"QQMJDBCMF

 *UFN

1SPQFSUJFT

"T
PG
%FDFNCFS


PVS
QSJODJQBM
IFBERVBSUFST
BSF
MPDBUFE
JO
$PWJOHUPO
-PVJTJBOB
8F
PXO
PS
MFBTF
UIF
GBDJMJUJFT EFTDSJCFE
JO
UIF
GPMMPXJOH
UBCMF
JO
BQQSPYJNBUF
TRVBSF
GFFU 
4RVBSF -PDBUJPO $PVOUSZ 'FFU 'BDJMJUZ
6TF 0XOFE-FBTFE $PWJOHUPO
-PVJTJBOB 64"   $PSQPSBUF
0GGJDFT -FBTFE .JMQJUBT
$BMJGPSOJB 64"   4BUFMMJUF
BOE
(SPVOE
$POUSPM
$FOUFS -FBTFE .BOBHVB /JDBSBHVB   (BUFXBZ 0XOFE $MJGUPO
5FYBT 64"   (BUFXBZ 0XOFE -PT
7FMBTRVF[
&EP
.JSBOEB 7FOF[VFMB   (BUFXBZ 0XOFE .JTTJTTBVHB
0OUBSJP $BOBEB   $BOBEB
0GGJDF -FBTFE 4FCSJOH
'MPSJEB 64"   (BUFXBZ -FBTFE "VTTBHVFM 'SBODF   4BUFMMJUF
$POUSPM
$FOUFS
BOE
(BUFXBZ -FBTFE 4NJUI
'BMMT
0OUBSJP $BOBEB   (BUFXBZ 0XOFE )JHI
3JWFS
"MCFSUB $BOBEB   (BUFXBZ 0XOFE #BSSJP
PG
-BT
1BMNBT
$BCP
3PKP 1VFSUP
3JDP   (BUFXBZ 0XOFE 8BTJMMB
"MBTLB 64"   (BUFXBZ 0XOFE 4FMFUBS
4BUFMMJUF
&BSUI
4UBUJPO 4JOHBQPSF   (BUFXBZ -FBTFE 1FUSPMJOB #SB[JM   (BUFXBZ 0XOFE 3JP
EF
+BOFJSP #SB[JM   #SB[JM
0GGJDF -FBTFE (BCPSPOF #PUTXBOB   (BUFXBZ -FBTFE .BOBVT #SB[JM   (BUFXBZ 0XOFE 1SFTJEFOUF
1SVEFOUF #SB[JM   (BUFXBZ 0XOFE %VCMJO *SFMBOE   *SFMBOE
0GGJDF -FBTFE 1BOBNB
$JUZ 1BOBNB   1BOBNB
0GGJDF -FBTFE #PTRVF
"MFHSF
"SHFOUJOB "SHFOUJOB  (BUFXBZ 0XOFE (BCPSPOF #PUTXBOB  #PUTXBOB
0GGJDF -FBTFE

0VS
PXOFE
QSPQFSUJFT
JO
$MJGUPO
5FYBT
BOE
8BTJMMB
"MBTLB
BSF
FODVNCFSFE
CZ
MJFOT
JO
GBWPS
PG
UIF
BENJOJTUSBUJWF
BHFOUT VOEFS
PVS
'BDJMJUZ
"HSFFNFOU
BOE
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
GPS
UIF
CFOFGJU
PG
UIF
MFOEFST
UIFSFVOEFS
4FF
1BSU
**
*UFN
 .BOBHFNFOUT
%JTDVTTJPO
BOE
"OBMZTJT
PG
'JOBODJBM
$POEJUJPO
BOE
3FTVMUT
PG
0QFSBUJPOT

-JRVJEJUZ
BOE
$BQJUBM
3FTPVSDFT
 $POUSBDUVBM
0CMJHBUJPOT
BOE
$PNNJUNFOUT
JO
UIJT
3FQPSU

*UFN

-FHBM
1SPDFFEJOHT
'PS
B
EFTDSJQUJPO
PG
PVS
NBUFSJBM
MFHBM
BOE
SFHVMBUPSZ
QSPDFFEJOHT
BOE
TFUUMFNFOUT
TFF
/PUF

$POUJOHFODJFT
JO
PVS $POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
JO
1BSU
**
*UFN

PG
UIJT
3FQPSU

*UFN

.JOF
4BGFUZ
%JTDMPTVSFT
/PU
"QQMJDBCMF

 1"35
**
*UFN

.BSLFU
GPS
3FHJTUSBOUT
$PNNPO
&RVJUZ
3FMBUFE
4UPDLIPMEFS
.BUUFST
BOE
*TTVFS
1VSDIBTFT
PG
&RVJUZ
4FDVSJUJFT
$PNNPO
4UPDL
*OGPSNBUJPO
0VS
DPNNPO
TUPDL
USBEFT
PO
UIF
/:4&
"NFSJDBO
VOEFS
UIF
TZNCPM
(4"5
"T
PG
'FCSVBSZ


   
TIBSFT
PG
PVS
DPNNPO
TUPDL
XFSF
PVUTUBOEJOH
IFME
CZ

IPMEFST
PG
SFDPSE
5IF OVNCFS
PG
IPMEFST
PG
SFDPSE
JT
CBTFE
VQPO
UIF
BDUVBM
OVNCFS
PG
IPMEFST
SFHJTUFSFE
BU
TVDI
EBUF
BOE
EPFT
OPU
JODMVEF
IPMEFST
PG TIBSFT
JO
TUSFFU
OBNF
PS
QFSTPOT
QBSUOFSTIJQT
BTTPDJBUFT
DPSQPSBUJPOT
PS
PUIFS
FOUJUJFT
JO
TFDVSJUZ
QPTJUJPO
MJTUJOHT
NBJOUBJOFE
CZ EFQPTJUPSJFT

%JWJEFOE
*OGPSNBUJPO
8F
IBWF
OFWFS
EFDMBSFE
PS
QBJE
BOZ
DBTI
EJWJEFOET
PO
PVS
DPNNPO
TUPDL
0VS
'BDJMJUZ
"HSFFNFOU
BOE
4FDPOE
-JFO
5FSN
-PBO 'BDJMJUZ
QSPIJCJU
VT
GSPN
QBZJOH
EJWJEFOET
8F
DVSSFOUMZ
JOUFOE
UP
SFUBJO
BOZ
GVUVSF
FBSOJOHT
BOE
EP
OPU
FYQFDU
UP
QBZ
BOZ
EJWJEFOET JO
UIF
GPSFTFFBCMF
GVUVSF
4FF
/PUF

-POH5FSN
%FCU
BOE
0UIFS
'JOBODJOH
"SSBOHFNFOUT
JO
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT GPS
GVSUIFS
EJTDVTTJPO

 *UFN

4FMFDUFE
'JOBODJBM
%BUB
5IF
GPMMPXJOH
UBCMF
QSFTFOUT
PVS
TFMFDUFE
DPOTPMJEBUFE
GJOBODJBM
EBUB
GPS
UIF
QFSJPET
JOEJDBUFE
8F
EFSJWFE
UIF
IJTUPSJDBM
EBUB GSPN
PVS
BVEJUFE
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
:PV
TIPVME
SFBE
UIF
EBUB
TFU
GPSUI
CFMPX
UPHFUIFS
XJUI
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
BOE
UIF
SFMBUFE
OPUFT
UIFSFUP JODMVEFE
JO
1BSU
**
*UFN

PG
UIJT
3FQPSU
BOE
UIF
EJTDVTTJPO
JO
1BSU
**
*UFN

.BOBHFNFOUT
%JTDVTTJPO
BOE
"OBMZTJT
PG
'JOBODJBM $POEJUJPO
BOE
3FTVMUT
PG
0QFSBUJPOT
JO
UIJT
3FQPSU

0O
+BOVBSZ


XF
BEPQUFE
"DDPVOUJOH
4UBOEBSET
$PEJGJDBUJPO
"4$
5PQJD

a-FBTFTb
a"4$
b 
8F
BEPQUFE UIJT
TUBOEBSE
VTJOH
UIF
NPEJGJFE
SFUSPTQFDUJWF
NFUIPE
BOE
BT
TVDI
QSJPS
QFSJPE
BNPVOUT
SFGMFDUFE
JO
UIF
UBCMFT
BOE
EJTDVTTJPO CFMPX
IBWF
OPU
CFFO
BEKVTUFE
0O
+BOVBSZ


XF
BEPQUFE
"DDPVOUJOH
4UBOEBSET
$PEJGJDBUJPO
"4$
5PQJD

a3FWFOVF
GSPN
$POUSBDUT
XJUI $VTUPNFSTb
a"4$
b 
8F
BEPQUFE
UIJT
TUBOEBSE
VTJOH
UIF
NPEJGJFE
SFUSPTQFDUJWF
NFUIPE
BOE
BT
TVDI
QSJPS
QFSJPE
BNPVOUT SFGMFDUFE
JO
UIF
UBCMFT
BOE
EJTDVTTJPO
CFMPX
IBWF
OPU
CFFO
BEKVTUFE

%FDFNCFS

JO
UIPVTBOET      4UBUFNFOU
PG
0QFSBUJPOT
%BUB
ZFBS
FOEFE  3FWFOVF                0QFSBUJOH
MPTT           0UIFS
JODPNF
FYQFOTF           *ODPNF
MPTT
CFGPSF
JODPNF
UBYFT           /FU
JODPNF
MPTT           /FU
JODPNF
MPTT
QFS
TIBSF

CBTJD      /FU
JODPNF
MPTT
QFS
TIBSF

EJMVUFE     

#BMBODF
4IFFU
%BUB
FOE
PG
QFSJPE  $BTI
BOE
DBTI
FRVJWBMFOUT           1SPQFSUZ
BOE
FRVJQNFOU
OFU             5PUBM
BTTFUT               $VSSFOU
NBUVSJUJFT
PG
MPOHUFSN
EFCU k         -POHUFSN
EFCU
MFTT
DVSSFOU
NBUVSJUJFT           4UPDLIPMEFSTg
FRVJUZ          

%VSJOH
UIF
UIJSE
RVBSUFS
PG

XF
JEFOUJGJFE
B
NJTBQQMJDBUJPO
PG
(""1
JO
UIF
QSFWJPVTMZ
SFQPSUFE
DBMDVMBUJPO
PG
OFU
JODPNF MPTT
BUUSJCVUBCMF
UP
DPNNPO
TUPDLIPMEFST
JO
UIF
OVNFSBUPS
PG
EJMVUFE
&14
GPS
DFSUBJO
QSJPS
QFSJPET
5IF
DPSSFDUJPO
PG
UIJT DBMDVMBUJPO
IBE
OP
JNQBDU
PO
OFU
JODPNF
MPTT
SFUBJOFE
EFGJDJU
PS
BOZ
PUIFS
GJOBODJBM
TUBUFNFOU
MJOF
JUFNT
'PS
DPNQBSBUJWF QVSQPTFT
QSJPS
QFSJPE
DBMDVMBUJPOT
PG
EJMVUFE
&14
IBWF
CFFO
BEKVTUFE
UP
DPOGPSN
UP
DVSSFOU
QFSJPE
QSFTFOUBUJPO
BT
OFDFTTBSZ UISPVHIPVU
UIJT
GJMJOH

*UFN

.BOBHFNFOU`T
%JTDVTTJPO
BOE
"OBMZTJT
PG
'JOBODJBM
$POEJUJPO
BOE
3FTVMUT
PG
0QFSBUJPOT

5IF
GPMMPXJOH
EJTDVTTJPO
BOE
BOBMZTJT
TIPVME
CF
SFBE
JO
DPOKVODUJPO
XJUI
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
BOE
BQQMJDBCMF OPUFT
UP
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
BOE
PUIFS
JOGPSNBUJPO
JODMVEFE
FMTFXIFSF
JO
UIJT
3FQPSU
JODMVEJOH
SJTL
GBDUPST EJTDMPTFE
JO
1BSU
*
*UFN
*"
3JTL
'BDUPST
5IF
GPMMPXJOH
JOGPSNBUJPO
DPOUBJOT
GPSXBSEMPPLJOH
TUBUFNFOUT
XIJDI
BSF
TVCKFDU
UP SJTLT
BOE
VODFSUBJOUJFT
4IPVME
POF
PS
NPSF
PG
UIFTF
SJTLT
PS
VODFSUBJOUJFT
NBUFSJBMJ[F
PVS
BDUVBM
SFTVMUT
NBZ
EJGGFS
GSPN
UIPTF FYQSFTTFE
PS
JNQMJFE
CZ
UIF
GPSXBSEMPPLJOH
TUBUFNFOUT
4FF
a'PSXBSE-PPLJOH
4UBUFNFOUTb
BU
UIF
CFHJOOJOH
PG
UIJT
3FQPSU

 1FSGPSNBODF
*OEJDBUPST
0VS
NBOBHFNFOU
SFWJFXT
BOE
BOBMZ[FT
TFWFSBM
LFZ
QFSGPSNBODF
JOEJDBUPST
JO
PSEFS
UP
NBOBHF
PVS
CVTJOFTT
BOE
BTTFTT
UIF RVBMJUZ
BOE
QPUFOUJBM
WBSJBCJMJUZ
PG
PVS
FBSOJOHT
BOE
DBTI
GMPXT
5IFTF
LFZ
QFSGPSNBODF
JOEJDBUPST
JODMVEF
d UPUBM
SFWFOVF
XIJDI
JT
BO
JOEJDBUPS
PG
PVS
PWFSBMM
CVTJOFTT
HSPXUI d TVCTDSJCFS
HSPXUI
BOE
DIVSO
SBUF
XIJDI
BSF
CPUI
JOEJDBUPST
PG
UIF
TBUJTGBDUJPO
PG
PVS
DVTUPNFST d BWFSBHF
NPOUIMZ
SFWFOVF
QFS
VTFS
PS
"316
XIJDI
JT
BO
JOEJDBUPS
PG
PVS
QSJDJOH
BOE
BCJMJUZ
UP
PCUBJO
FGGFDUJWFMZ
MPOH UFSN
IJHIWBMVF
DVTUPNFST
8F
DBMDVMBUF
"316
TFQBSBUFMZ
GPS
FBDI
UZQF
PG
PVS
%VQMFY
$PNNFSDJBM
*P5
4105
BOE *(0
SFWFOVF d PQFSBUJOH
JODPNF
BOE
BEKVTUFE
&#*5%"
CPUI
PG
XIJDI
BSF
JOEJDBUPST
PG
PVS
GJOBODJBM
QFSGPSNBODF
BOE d DBQJUBM
FYQFOEJUVSFT
XIJDI
BSF
BO
JOEJDBUPS
PG
GVUVSF
SFWFOVF
HSPXUI
QPUFOUJBM
BOE
DBTI
SFRVJSFNFOUT

$PNQBSJTPO
PG
UIF
3FTVMUT
PG
0QFSBUJPOT
GPS
UIF
ZFBST
FOEFE
%FDFNCFS


BOE


3FWFOVF
%VSJOH
UIF
UXFMWF
NPOUIT
FOEFE
%FDFNCFS


UPUBM
SFWFOVF
JODSFBTFE

NJMMJPO
UP

NJMMJPO
GSPN
 NJMMJPO
JO

5IJT
JODSFBTF
XBT
JNQBDUFE
CZ
BO
PVUPGQFSJPE
BEKVTUNFOU
PG

NJMMJPO
EVSJOH
UIF
UIJSE
RVBSUFS
PG

SFMBUFE UP
B
DIBOHF
JO
UIF
DBMDVMBUJPO
PG
UIF
FTUJNBUFE
JNQBDU
GSPN
UIF
JOJUJBM
BEPQUJPO
PG
"4$


&YDMVEJOH
UIJT
BEKVTUNFOU
UPUBM SFWFOVF
EFDSFBTFE

NJMMJPO
GSPN

5IJT
EFDSFBTF
XBT
EVF
QSJNBSJMZ
UP
B

NJMMJPO
EFDSFBTF
JO
TFSWJDF
SFWFOVF
ESJWFO CZ
GFXFS
%VQMFY
TVCTDSJCFST
BT
XFMM
BT
MPXFS
SFWFOVF
SFDPHOJ[FE
GSPN
HPWFSONFOU
DPOUSBDUT
5IFTF
JUFNT
XFSF
PGGTFU
CZ
JODSFBTFT JO
$PNNFSDJBM
*P5
TVCTDSJCFST
BOE
"316
BT
XFMM
BT
%VQMFY
"316
3FWFOVF
HFOFSBUFE
GSPN
TVCTDSJCFS
FRVJQNFOU
TBMFT
EFDSFBTFE 
NJMMJPO
XIJDI
SFTVMUFE
QSJNBSJMZ
GSPN
MPXFS
WPMVNF
BOE
QSJDJOH
PG
%VQMFY
BOE
4105
VOJUT
TPME

5IF
GPMMPXJOH
UBCMF
TFUT
GPSUI
BNPVOUT
BOE
QFSDFOUBHFT
PG
PVS
SFWFOVF
CZ
UZQF
PG
TFSWJDF
EPMMBST
JO
UIPVTBOET 
:FBS
&OEFE :FBS
&OEFE %FDFNCFS

 %FDFNCFS

 
PG
5PUBM 
PG
5PUBM 3FWFOVF 3FWFOVF 3FWFOVF 3FWFOVF 4FSWJDF
3FWFOVF %VQMFY
        4105       $PNNFSDJBM
*P5       *(0  k   0UIFS       5PUBM
4FSWJDF
3FWFOVF       


"T
QSFWJPVTMZ
EJTDMPTFE
XF
SFDPSEFE
BO
PVUPGQFSJPE
BEKVTUNFOU
PG

NJMMJPO
EVSJOH

BT
B
SFTVMU
PG
B
DIBOHF
JO
UIF FTUJNBUFE
JNQBDU
PG
"4$

5IJT
BEKVTUNFOU
XIJDI
JODSFBTFE
%VQMFY
TFSWJDF
SFWFOVF
JT
FYDMVEFE
GSPN
%VQMFY
TFSWJDF
SFWFOVF JO
UIF
UBCMF
BCPWF
5IF
QFSDFOUBHF
PG
UPUBM
SFWFOVF
DBMDVMBUJPOT
BMTP
FYDMVEF
UIJT
BEKVTUNFOU

 5IF
GPMMPXJOH
UBCMF
TFUT
GPSUI
BNPVOUT
BOE
QFSDFOUBHFT
PG
PVS
SFWFOVF
HFOFSBUFE
GSPN
FRVJQNFOU
TBMFT
EPMMBST
JO
UIPVTBOET  :FBS
&OEFE :FBS
&OEFE %FDFNCFS

 %FDFNCFS

 
PG
5PUBM 
PG
5PUBM 3FWFOVF 3FWFOVF 3FWFOVF 3FWFOVF &RVJQNFOU
3FWFOVF %VQMFY        4105       $PNNFSDJBM
*P5       0UIFS  k  k 5PUBM
&RVJQNFOU
3FWFOVF       





5IF
GPMMPXJOH
UBCMF
TFUT
GPSUI
PVS
BWFSBHF
OVNCFS
PG
TVCTDSJCFST
BOE
"316
CZ
UZQF
PG
SFWFOVF

%FDFNCFS
   "WFSBHF
OVNCFS
PG
TVCTDSJCFST
GPS
UIF
ZFBS
FOEFE %VQMFY     4105     $PNNFSDJBM
*P5     *(0     0UIFS    5PUBM    

"316
NPOUIMZ  %VQMFY
     4105   $PNNFSDJBM
*P5   *(0  


"T
QSFWJPVTMZ
EJTDMPTFE
XF
SFDPSEFE
BO
PVUPGQFSJPE
BEKVTUNFOU
PG

NJMMJPO
EVSJOH

BT
B
SFTVMU
PG
B
DIBOHF
JO
UIF FTUJNBUFE
JNQBDU
PG
"4$

5IJT
BEKVTUNFOU
XIJDI
JODSFBTFE
%VQMFY
TFSWJDF
SFWFOVF
JT
FYDMVEFE
GSPN
%VQMFY
"316
JO
UIF UBCMF
BCPWF
8IFO
UIF
PVUPGQFSJPE
BEKVTUNFOU
JT
JODMVEFE
JO
UIF
DBMDVMBUJPO
"316
GPS
UIF
UXFMWF
NPOUIT
FOEFE
%FDFNCFS
 
JT


5IF
OVNCFST
SFQPSUFE
JO
UIF
BCPWF
UBCMF
BSF
TVCKFDU
UP
JNNBUFSJBM
SPVOEJOH
JOIFSFOU
JO
DBMDVMBUJOH
BWFSBHFT

%VSJOH
UIF
UXFMWF
NPOUIT
FOEFE
%FDFNCFS


HSPTT
%VQMFY
BOE
4105
TVCTDSJCFS
BEEJUJPOT
XFSF
 
BOE
  SFTQFDUJWFMZ
%VSJOH

HSPTT
%VQMFY
BOE
4105
TVCTDSJCFS
BEEJUJPOT
XFSF
 
BOE
 
SFTQFDUJWFMZ
%VQMFY
HSPTT TVCTDSJCFS
BEEJUJPOT
XFSF
IJHIFS
JO

BT
XF
FYQFSJFODFE
IJHIFS
EFNBOE
EVF
UP
MPXFS
TFSWJDF
QMBO
QSJDFT
JO
FGGFDU
BOE
IJHIFS BWBJMBCJMJUZ
PG
JOWFOUPSZ
4105
HSPTT
TVCTDSJCFS
BDUJWBUJPOT
JODSFBTFE
TMJHIUMZ
GSPN

UP

EVF
QSJNBSJMZ
UP
TBMFT
PG
4105 9e
EFTQJUF
B
IJHI
WPMVNF
PG
TBMFT
GSPN
JUT
MBVODI
JO
.BZ

UIF
JODSFBTF
JO
4105
9e
BDUJWBUJPOT
XBT
PGGTFU
CZ
MPXFS
BDUJWBUJPOT PG
PUIFS
4105
QSPEVDUT
#FDBVTF
PVS
$PNNFSDJBM
*P5
TVCTDSJCFST
BSF
BCMF
UP
BDUJWBUF
BOE
EFBDUJWBUF
UIFJS
VOJUT
TFWFSBM
UJNFT EVSJOH
UIF
ZFBS
HSPTT
$PNNFSDJBM
*P5
TVCTDSJCFS
BEEJUJPOT
BSF
OPU
DPOTJEFSFE
UP
CF
B
NFBOJOHGVM
NFUSJD

8F
DPVOU
TVCTDSJCFST
CBTFE
PO
UIF
OVNCFS
PG
EFWJDFT
UIBU
BSF
TVCKFDU
UP
BHSFFNFOUT
UIBU
FOUJUMF
UIFN
UP
VTF
PVS
WPJDF
PS
EBUB DPNNVOJDBUJPOT
TFSWJDFT
SBUIFS
UIBO
UIF
OVNCFS
PG
QFSTPOT
PS
FOUJUJFT
XIP
PXO
PS
MFBTF
UIPTF
EFWJDFT

0UIFS
TFSWJDF
SFWFOVF
JODMVEFT
SFWFOVF
HFOFSBUFE
QSJNBSJMZ
GSPN
TPVSDFT
XIJDI
BSF
OPU
TVCTDSJCFS
ESJWFO
TVDI
BT
FOHJOFFSJOH TFSWJDFT
"DDPSEJOHMZ
XF
EP
OPU
QSFTFOU
"316
GPS
PUIFS
TFSWJDF
SFWFOVF
JO
UIF
UBCMF
BCPWF

 4FSWJDF
3FWFOVF
"T
EJTDVTTFE
BCPWF
XF
SFDPSEFE
B
POFUJNF
PVUPGQFSJPE
BEKVTUNFOU
PG

NJMMJPO
EVSJOH
UIF
UIJSE
RVBSUFS
PG

XIJDI JODSFBTFE
%VQMFY
TFSWJDF
SFWFOVF
&YDMVEJOH
UIJT
BEKVTUNFOU
%VQMFY
TFSWJDF
SFWFOVF
EFDSFBTFE

JO

ESJWFO
CZ
B
EFDSFBTF JO
BWFSBHF
TVCTDSJCFST
PGGTFU
QBSUJBMMZ
CZ
BO
JODSFBTF
JO
"316
5IF
EFDSFBTF
JO
BWFSBHF
TVCTDSJCFST
XBT
EVF
UP
MPXFS
HSPTT BDUJWBUJPOT
SFTVMUJOH
GSPN
GFXFS
FRVJQNFOU
TBMFT
PWFS
UIF
MBTU
UXFMWF
NPOUIT
BT
XFMM
BT
OPSNBM
DIVSO
JO
UIF
TVCTDSJCFS
CBTF
8F IBWF
WBSJPVT
JOJUJBUJWFT
VOEFSXBZ
UP
ESJWF
IJHIFS
%VQMFY
BDUJWBUJPOT
8F
SFMFBTFE
BO
JNQSPWFE
4BU'Je
EFWJDF
EVSJOH
4FQUFNCFS 
BT
XFMM
BT
B
EFSJWBUJWF
QSPEVDU
UIF
4BU'Je
3FNPUF
"OUFOOB
4UBUJPO
3"4
EVSJOH
0DUPCFS

UP
FYQBOE
UIF
VTF
DBTFT GPS
UIF
4BU'Je
EFWJDF
'VSUIFS
EFWFMPQNFOU
FGGPSUT
BSF
VOEFSXBZ
UP
MBVODI
BEEJUJPOBM
EFSJWBUJWF
QSPEVDUT
PG
UIJT
EFWJDF
"T TIPXO
JO
UIF
UBCMF
BCPWF
FYDMVEJOH
UIF
POFUJNF
BEKVTUNFOU
EVSJOH

"316
JODSFBTFE

EVF
UP
SBUF
QMBO
DIBOHFT
GSPN QSFWJPVT
QFSJPET
UIBU
IBWF
OPX
CFFO
SPMMFE
PVU
UP
NPTU
PG
UIF
TVCTDSJCFS
CBTF
4105
TFSWJDF
SFWFOVF
EFDSFBTFE

JO

EVF
QSJNBSJMZ
UP
B

EFDSFBTF
JO
BWFSBHF
TVCTDSJCFST
%VSJOH

UIF
$PNQBOZ EFBDUJWBUFE
BQQSPYJNBUFMZ
 
OPOQBZJOH
DVTUPNFST
QBSUJDVMBSMZ
JO
-BUJO
"NFSJDB
BOE
BQQSPYJNBUFMZ
 
DVTUPNFST
EVF UP
JOBEWFSUFOU
DSFEJU
DBSE
QSPDFTTJOH
JTTVFT
SFTVMUJOH
GSPN
B
DIBOHF
JO
NFSDIBOU
TFSWJDF
QSPDFTTPST
&YDMVEJOH
UIJT
JOWPMVOUBSZ DIVSO
FOEJOH
4105
TVCTDSJCFST
XPVME
IBWF
CFFO
JO
MJOF
XJUI

BOE
BWFSBHF
TVCTDSJCFST
XPVME
IBWF
EFDSFBTFE

"316 SFNBJOFE
SFMBUJWFMZ
GMBU
GPS

DPNQBSFE
UP

IPXFWFS
JU
XBT
JNQBDUFE
CZ
UIF
UJNJOH
BOE
BNPVOU
PG
DFSUBJO
USBOTBDUJPOT EVSJOH

UIBU
EJE
OPU
SFDVS
EVSJOH

JODMVEJOH
QSJNBSJMZ
JODSFNFOUBM
SFWFOVF
SFDPSEFE
EVSJOH
UIF
TFDPOE
RVBSUFS
PG
 PG

NJMMJPO
SFMBUFE
UP
UIF
DPMMFDUJPO
PG
B
DVTUPNFS
BDDPVOU
UIBU
XBT
QSFWJPVTMZ
USFBUFE
BT
VODPMMFDUJCMF
$PNNFSDJBM
*P5
TFSWJDF
SFWFOVF
JODSFBTFE

JO

EVF
UP
JODSFBTFT
JO
CPUI
"316
BOE
BWFSBHF
TVCTDSJCFST
)JHIFS
"316 DPOUSJCVUFE

NJMMJPO
UP
UIF
JODSFBTF
JO
TFSWJDF
SFWFOVF
GSPN

5IF
JODSFBTF
JO
"316
XBT
ESJWFO
JO
QBSU
CZ
IJHIFS
VTBHF BOE
B
NPSF
GBWPSBCMF
CMFOE
PG
SBUF
QMBOT
JO
QMBDF
EVSJOH

)JHIFS
BWFSBHF
TVCTDSJCFST
DPOUSJCVUFE

NJMMJPO
UP
UIF
JODSFBTF JO
$PNNFSDJBM
*P5
TFSWJDF
SFWFOVF
GSPN

5IF
JODSFBTF
JO
BWFSBHF
TVCTDSJCFST
XBT
ESJWFO
CZ
IJHIFS
$PNNFSDJBM
*P5
FRVJQNFOU TBMFT
EVSJOH
UIF
MBTU
UXFMWF
NPOUIT
QSJNBSJMZ
EVF
UP
DPOUJOVFE
TVDDFTT
XJUI
PVS
4NBSU0OF
GBNJMZ
PG
BTTFU
USBDLJOH
VOJUT

0UIFS
TFSWJDF
SFWFOVF
EFDSFBTFE

NJMMJPO
PS

JO

-PXFS
SFWFOVF
HFOFSBUFE
GSPN
HPWFSONFOU
DPOUSBDUT
EVF
UP SFHVMBUPSZ
EFMBZT
SFQSFTFOUFE
OFBSMZ
BMM
PG
UIF
EFDMJOF
4VCTDSJCFS
&RVJQNFOU
4BMFT
3FWFOVF
GSPN
%VQMFY
FRVJQNFOU
TBMFT
EFDSFBTFE

NJMMJPO
PS

JO

5IF
EFDMJOF
JO
SFWFOVF
XBT
ESJWFO
QSJNBSJMZ CZ
B
MPXFS
TBMFT
WPMVNF
PG
%VQMFY
BDDFTTPSJFT
BT
XFMM
BT
GJYFE
EFWJDFT
BOE
EBUB
NPEFNT
EVF
UP
UIF
BWBJMBCJMJUZ
PG
UIFTF
GJSTU HFOFSBUJPO
QSPEVDUT
*O
"QSJM

XF
SFMFBTFE
B
TFDPOEHFOFSBUJPO
%VQMFY
EFWJDF
4BU'Je
#BTFE
PO
JOJUJBM
DVTUPNFS
GFFECBDL XF
TMPXMZ
SFMFBTFE
UIJT
QSPEVDU
JOUP
UIF
NBSLFU
BT
XF
GPDVTFE
PO
PQUJNJ[JOH
GVODUJPOBMJUZ
QFSGPSNBODF
BOE
VTBCJMJUZ
UIFSFGPSF TBMFT
PG
UIJT
EFWJDF
IBWF
CFFO
MPXFS
UIBO
FYQFDUFE
8F
SFMFBTFE
BO
JNQSPWFE
4BU'Je
EFWJDF
EVSJOH
UIF
UIJSE
RVBSUFS
PG

BOE B
4BU'Je
3"4
EFWJDF
JO
0DUPCFS

%FWFMPQNFOU
FGGPSUT
BSF
VOEFSXBZ
UP
MBVODI
GVSUIFS
EFSJWBUJWF
QSPEVDUT
PG
UIF
4BU 'Je
EFWJDF
3FWFOVF
GSPN
4105
FRVJQNFOU
TBMFT
EFDSFBTFE

NJMMJPO
PS

JO

5IF
EFDSFBTF
XBT
ESJWFO
CZ
MPXFS
WPMVNF BOE
QSJDJOH
PG
DFSUBJO
4105
QSPEVDUT
5IF
JNQBDU
EVF
UP
QSJDJOH
XBT
ESJWFO
CZ
NPSF
BHHSFTTJWF
EJTDPVOUT
BOE
QSPNPUJPOT
PGGFSFE EVSJOH

UIFTF
QSPNPUJPOT
BSF
FYQFDUFE
UP
DPOUSJCVUF
UP
IJHIFS
BDUJWBUJPOT
BOE
TFSWJDF
SFWFOVF
JO
GVUVSF
QFSJPET
5IF
JNQBDU EVF
UP
B
MPXFS
TBMFT
WPMVNF
XBT
EVF
QSJNBSJMZ
UP
GFXFS
TBMFT
PG
PVS
4105
(FOeEFWJDF
XIJDI
XBT
ESJWFO
CZ
WBSJPVT
GBDUPST JODMVEJOH
IJHIFS
TFSWJDF
QSJDJOH
JO
FGGFDU
EVSJOH
NPTU
PG

BOE
UIF
TVDDFTT
PG
4105
9e
4BMFT
PG
PVS
4105
9e
EFWJDF
PVS GJSTU
UXPXBZ
4105
QSPEVDU
JODSFBTFE
ZFBS
PWFS
ZFBS
BOE
BSF
TPME
BU
B
IJHIFS
QSJDF
UIBO
PVS
PUIFS
4105
QSPEVDUT
QPTJUJWFMZ JNQBDUJOH
SFWFOVF
GSPN
4105
FRVJQNFOU
TBMFT
3FWFOVF
GSPN
$PNNFSDJBM
*P5
FRVJQNFOU
TBMFT
JODSFBTFE

NJMMJPO
PS

JO

7PMVNF
GPS
BMNPTU
BMM
$PNNFSDJBM *P5
EFWJDFT
JODSFBTFE
GSPN

UP

IPXFWFS
GPS
DFSUBJO
QSPEVDUT
UIF
SFWFOVF
DPOUSJCVUJPO
XBT
GMBU
EVF
UP
QSJDJOH
5IF JODSFBTF
JO
SFWFOVF
GSPN
$PNNFSDJBM
*P5
FRVJQNFOU
TBMFT
JT
BUUSJCVUBCMF
QSJNBSJMZ
UP
TBMFT
PG
PVS
OFX
4NBSU0OF
4PMBS5.

0QFSBUJOH
&YQFOTFT
5PUBM
PQFSBUJOH
FYQFOTFT
JODSFBTFE

NJMMJPO
PS

UP

NJMMJPO
JO

GSPN

NJMMJPO
JO

"T
EJTDVTTFE GVSUIFS
CFMPX
UIF
JODSFBTF
JO
UPUBM
PQFSBUJOH
FYQFOTFT
XBT
ESJWFO
QSJNBSJMZ
CZ
B

NJMMJPO
SFWJTJPO
UP
PVS
DPOUSBDU
UFSNJOBUJPO DIBSHF
XJUI
5IBMFT
EVSJOH

UIBU
SFEVDFE
PQFSBUJOH
FYQFOTFT
JO

BOE
EJE
OPU
SFDVS
JO

*ODSFBTFT
JO
EFQSFDJBUJPO BNPSUJ[BUJPO
BOE
BDDSFUJPO
FYQFOTF
IJHIFS
DPTU
PG
TVCTDSJCFS
FRVJQNFOU
TBMFT
BOE
SFEVDUJPOT
JO
UIF
WBMVF
PG
CPUI
MPOHMJWFE
BTTFUT BOE
JOWFOUPSZ
BMTP
DPOUSJCVUFE
UP
IJHIFS
PQFSBUJOH
FYQFOTFT
0GGTFUUJOH
UIFTF
JODSFBTFT
XFSF
MPXFS
NBSLFUJOH
HFOFSBM
BOE BENJOJTUSBUJWF
DPTUT


$PTU
PG
4FSWJDFT
$PTU
PG
TFSWJDFT
EFDSFBTFE

NJMMJPO
PS
MFTT
UIBO

UP

NJMMJPO
JO

GSPN

NJMMJPO
JO

5IF
EFDSFBTF XBT
ESJWFO
CZ
B
EFDSFBTF
JO
WFOEPS
TVQQPSU
DPTUT
GPS
PVS
HSPVOE
OFUXPSL
PG

NJMMJPO
-PXFS
SFTFBSDI
BOE
EFWFMPQNFOU
DPTUT PG

NJMMJPO
BTTPDJBUFE
XJUI
UIF
UJNJOH
BOE
TDPQF
PG
QSPEVDU
EFWFMPQNFOU
JOJUJBUJWFT
BMTP
DPOUSJCVUFE
UP
UIF
EFDSFBTF
5IFTF EFDSFBTFT
XFSF
PGGTFU
CZ
IJHIFS
QFSTPOOFM
DPTUT
PG

NJMMJPO
EVF
UP
UIF
UJNJOH
BOE
TDPQF
PG
DBQJUBM
QSPKFDUT

$PTU
PG
4VCTDSJCFS
&RVJQNFOU
4BMFT
$PTU
PG
TVCTDSJCFS
FRVJQNFOU
TBMFT
JODSFBTFE
CZ

NJMMJPO
PS

UP

NJMMJPO
JO

GSPN

NJMMJPO
JO


*O
4FQUFNCFS

64
$VTUPNT
BOE
#PSEFS
1SPUFDUJPO
$#1
JTTVFE
B
SVMJOH
SFMBUFE
UP
UIF
DMBTTJGJDBUJPO
PG
DFSUBJO
PG
PVS DPSF
QSPEVDUT
JNQPSUFE
GSPN
$IJOB
5IJT
DMBTTJGJDBUJPO
XIJDI
DBSSJFT

UBSJGGT
VQPO
JNQPSU
JT
JODPOTJTUFOU
XJUI
UIF
DMBTTJGJDBUJPO XF
QSFWJPVTMZ
VTFE
CBTFE
PO
FYUFSOBM
MFHBM
BEWJDF
"T
B
SFTVMU
PG
UIF
$#1
SVMJOH
EVSJOH

XF
IBWF
FYQFOTFE

NJMMJPO
JO UBSJGGT
GPS
QSPEVDUT
TPME
TJODF
+VMZ

8F
QMBO
PO
GJMJOH
B
QSPUFTU
BHBJOTU
UIJT
SVMJOH
UP
DIBMMFOHF
UIF
DMBTTJGJDBUJPO
BOE
SFEVDF UIF
BNPVOUT
PXFE
CVU
DBOOPU
QSPWJEF
BOZ
BTTVSBODF
UIBU
XF
NBZ
CF
TVDDFTTGVM
JO
BDIJFWJOH
B
GBWPSBCMF
PVUDPNF
&YDMVEJOH
UIF 
NJMMJPO
JODSFBTF
JO
DPTU
PG
FRVJQNFOU
TBMFT
EVF
UP
UIF
$IJOB
UBSJGG
SVMJOH
UIF
SFNBJOJOH
GMVDUVBUJPO
JT
HFOFSBMMZ
DPOTJTUFOU XJUI
UIF
DIBOHFT
JO
SFWFOVF
HFOFSBUFE
GSPN
TVCTDSJCFS
FRVJQNFOU
TBMFT
EVSJOH
UIF
SFTQFDUJWF
QFSJPET

$PTU
PG
4VCTDSJCFS
&RVJQNFOU
4BMFT

3FEVDUJPO
JO
UIF
7BMVF
PG
*OWFOUPSZ

%VSJOH

XF
XSPUF
EPXO
UIF
WBMVF
PG
JOWFOUPSZ
CZ

NJMMJPO
BGUFS
BEKVTUJOH
GPS
DIBOHFT
JO
UIF
OFU
SFBMJ[BCMF
WBMVF
PG HBUFXBZ
TQBSF
QBSUT
EVF
UP
FYDFTT
"
TJNJMBS
JOWFOUPSZ
SFTFSWF
XBT
OPU
SFRVJSFE
EVSJOH


.BSLFUJOH
(FOFSBM
BOE
"ENJOJTUSBUJWF
.BSLFUJOH
HFOFSBM
BOE
BENJOJTUSBUJWF
FYQFOTFT
EFDSFBTFE

NJMMJPO
PS

UP

NJMMJPO
JO

GSPN

NJMMJPO JO



JODMVEFE
DPTUT
UP
TVQQPSU
UIF
OPXUFSNJOBUFE
NFSHFS
BOE
BTTPDJBUFE
MJUJHBUJPO
TFF
/PUF

$POUJOHFODJFT
GPS
GVSUIFS EJTDVTTJPO 
UIFTF
DPTUT
EJE
OPU
SFDVS
BU
UIF
TBNF
MFWFM
JO

SFTVMUJOH
JO
B
EFDSFBTF
JO
DPTUT
PG

NJMMJPO
JODMVEJOH
B
HBJO PG

NJMMJPO
GPS
BO
JOTVSBODF
SFDPWFSZ
QSFWJPVTMZ
USFBUFE
BT
B
DPOUJOHFOU
HBJO
SFMBUFE
UP
UIJT
TIBSFIPMEFS
MJUJHBUJPO
8F
BMTP IBE
B
EFDSFBTF
JO
TUPDL
CBTFE
DPNQFOTBUJPO
PG

NJMMJPO
ESJWFO
CZ
BEEJUJPOBM
HSBOUT
UP
DFSUBJO
FNQMPZFFT
EVSJOH
UIF
GPVSUI RVBSUFS
PG

JODMVEJOH
UIF
NPEJGJDBUJPO
PG
DFSUBJO
TUPDL
BXBSET
SFTVMUJOH
GSPN
UIF
EFQBSUVSF
PG
GPVS
NFNCFST
PG
UIF
#PBSE
PG %JSFDUPST
JO
%FDFNCFS

0GGTFUUJOH
UIFTF
FYQFOTF
SFEVDUJPOT
XBT
UIF
XSJUFPGG
PG

NJMMJPO
PG
QSFWJPVTMZDBQJUBMJ[FE GJOBODJOH
DPTUT
BTTPDJBUFE
XJUI
PVS
JOJUJBM
FGGPSUT
UP
SFGJOBODF
PVS
EFCU
PCMJHBUJPOT
UISPVHI
UIF
JTTVBODF
PG
B
OFX
GJSTU
MJFO
GBDJMJUZ 5IJT
XSJUFPGG
XBT
NBEF
EVSJOH
UIF
UIJSE
BOE
GPVSUI
RVBSUFST
PG

GPMMPXJOH
UIF
BNFOENFOU
PG
PVS
FYJTUJOH
'BDJMJUZ
"HSFFNFOU BOE
DMPTJOH
PG
PVS
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
JO
/PWFNCFS

0DDVQBODZ
DPTUT
BMTP
JODSFBTFE

NJMMJPO
SFTVMUJOH QSJNBSJMZ
GSPN
PVS
NPWF
JOUP
B
OFX
IFBERVBSUFST
MPDBUJPO
JO
'FCSVBSZ

"T
B
SFTVMU
PG
UIJT
SFMPDBUJPO
PVS
BOOVBM
SFOU
FYQFOTF JODMVEJOH
BTTPDJBUFE
UBYFT
BOE
PUIFS
PQFSBUJOH
DPTUT
IBT
JODSFBTFE
UIF
FTUJNBUFE
BOOVBMJ[FE
JNQBDU
PG
UIFTF
IJHIFS
PDDVQBODZ DPTUT
JT

NJMMJPO
0UIFS
TNBMMFS
JUFNT
DPOUSJCVUFE
UP
UIF
SFNBJOJOH
DIBOHF

3FEVDUJPO
JO
UIF
7BMVF
PG
-POH-JWFE
"TTFUT

%VSJOH

XF
SFDPSEFE
B
SFEVDUJPO
JO
UIF
DBSSZJOH
WBMVF
PG
MPOHMJWFE
BTTFUT
PG

NJMMJPO
SFTVMUJOH
GSPN
UIF
DIBOHF
JO DMBTTJGJDBUJPO
GSPN
IFME
BOE
VTFE
UP
IFME
GPS
TBMF
PG
PVS
GPSNFS
HBUFXBZ
MPDBUJPO
JO
/JDBSBHVB
8F
SFEVDFE
UIF
DBSSZJOH
WBMVF
UP UIF
MPXFS
PG
DPTU
PS
GBJS
WBMVF
MFTT
FTUJNBUFE
DPTU
UP
TFMM
EVSJOH
UIF
GPVSUI
RVBSUFS
PG


3FWJTJPO
UP
$POUSBDU
5FSNJOBUJPO
$IBSHF

*O
.BZ

UIF
TUBUVUF
PG
MJNJUBUJPOT
GPS
5IBMFT
UP
FOGPSDF
UIF
BSCJUSBUJPO
BXBSE
QVSTVBOU
UP
UIF
'FEFSBM
"SCJUSBUJPO
"DU FYQJSFE
"DDPSEJOHMZ
XF
CFMJFWF
UIBU
QBZNFOU
PG
UIF
DPOUSBDU
UFSNJOBUJPO
DIBSHF
JT
OPU
QSPCBCMF
BOE
XF
SFNPWFE
UIJT
MJBCJMJUZ GSPN
PVS
DPOTPMJEBUFE
CBMBODF
TIFFU
EVSJOH
UIF
TFDPOE
RVBSUFS
PG

SFTVMUJOH
JO
B
SFEVDUJPO
JO
PQFSBUJOH
FYQFOTFT
PG
j NJMMJPO
PS

NJMMJPO
4FF
/PUF

$POUJOHFODJFT
JO
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
JO
PVS

"OOVBM
3FQPSU
PO
'PSN ,
GPS
GVSUIFS
EJTDVTTJPO

 %FQSFDJBUJPO
"NPSUJ[BUJPO
BOE
"DDSFUJPO
%FQSFDJBUJPO
BNPSUJ[BUJPO
BOE
BDDSFUJPO
FYQFOTF
JODSFBTFE

NJMMJPO
UP

NJMMJPO
JO

DPNQBSFE
UP

NJMMJPO JO

5IJT
JODSFBTF
XBT
EVF
QSJNBSJMZ
UP
QMBDJOH
PVS
OFYUHFOFSBUJPO
HSPVOE
JOGSBTUSVDUVSF
JOUP
TFSWJDF
EVSJOH

4JODF
"QSJM 

XF
IBWF
QMBDFE
JOUP
TFSWJDF
BQQSPYJNBUFMZ

NJMMJPO
PG
DPOTUSVDUJPO
JO
QSPHSFTT
JODMVEJOH
DBQJUBMJ[FE
JOUFSFTU BTTPDJBUFE
XJUI
PVS
OFYUHFOFSBUJPO
HSPVOE
JOGSBTUSVDUVSF
5IF
DPTUT
QMBDFE
JOUP
TFSWJDF
SFQSFTFOU
QSJNBSJMZ
UIF
HBUFXBZT
DBQBCMF PG
TVQQPSUJOH
DPNNFSDJBM
USBGGJD
GSPN
4BU'Je
UIF
GJSTU
EFWJDF
UP
XPSL
PO
PVS
VQHSBEFE
OFUXPSL
8F
FYQFDU
EFQSFDJBUJPO
FYQFOTF GPS
UIFTF
BTTFUT
UP
CF
BQQSPYJNBUFMZ

NJMMJPO
QFS
RVBSUFS
GPS
BO
FTUJNBUFE
MJGF
PG
GJGUFFO
ZFBST

0UIFS
*ODPNF
&YQFOTF 

*OUFSFTU
*ODPNF
BOE
&YQFOTF
*OUFSFTU
JODPNF
BOE
FYQFOTF
OFU
JODSFBTFE

NJMMJPO
UP
FYQFOTF
PG

NJMMJPO
GPS

DPNQBSFE
UP
FYQFOTF
PG
 NJMMJPO
GPS

5IJT
JODSFBTF
XBT
ESJWFO
CZ
BO
JODSFBTF
JO
HSPTT
JOUFSFTU
DPTUT
PG

NJMMJPO
BT
XFMM
BT
B
SFEVDUJPO
UP
DBQJUBMJ[FE JOUFSFTU
PG

NJMMJPO
XIJDI
JODSFBTFT
JOUFSFTU
FYQFOTF 
5IFTF
JODSFBTFT
XFSF
QBSUJBMMZ
PGGTFU
CZ
IJHIFS
JOUFSFTU
JODPNF
PG
 NJMMJPO
FBSOFE
PO
PVS
SFTUSJDUFE
DBTI
BDDPVOU

5IF
JODSFBTF
JO
HSPTT
JOUFSFTU
DPTUT
XBT
JNQBDUFE
CZ
B
GFX
JUFNT
JODMVEJOH

NJMMJPO
PG
JOUFSFTU
JODMVEJOH

NJMMJPO
PG BNPSUJ[BUJPO
PG
EFGFSSFE
GJOBODJOH
DPTUT
BTTPDJBUFE
XJUI
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
UIBU
XF
FOUFSFE
JOUP
JO
+VOF
 XIJDI
XBT
SFQBJE
JO
/PWFNCFS


NJMMJPO
PG
JOUFSFTU
JODMVEJOH

NJMMJPO
PG
BDDSFUJPO
PG
EFCU
EJTDPVOU
BOE
BNPSUJ[BUJPO PG
EFGFSSFE
GJOBODJOH
DPTUT
BTTPDJBUFE
XJUI
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
UIBU
XF
FOUFSFE
JOUP
JO
/PWFNCFS

BOE
 NJMMJPO
PG
JOUFSFTU
JODMVEJOH

NJMMJPO
PG
BDDSFUJPO
PG
EFCU
EJTDPVOU
ESJWFO
CZ
B
IJHIFS
QSJODJQBM
CBMBODF
PVUTUBOEJOH
PO
PVS -PBO
"HSFFNFOU
XJUI
5IFSNP
"NPSUJ[BUJPO
SFMBUFE
UP
UIF
'BDJMJUZ
"HSFFNFOU
BMTP
JODSFBTFE
JOUFSFTU
FYQFOTF
CZ

NJMMJPO JODMVEJOH
QSJNBSJMZ
UIF
XSJUFPGG
PG
B
QPSUJPO
PG
SFNBJOJOH
EFGFSSFE
GJOBODJOH
DPTUT
SFTVMUJOH
GSPN
UIF
NPEJGJDBUJPO
PG
UIF
'BDJMJUZ "HSFFNFOU
JO
/PWFNCFS

0GGTFUUJOH
UIFTF
JODSFBTFT
XBT
B
EFDSFBTF
PG

NJMMJPO
JO
JOUFSFTU
GPS
PVS
'BDJMJUZ
"HSFFNFOU ESJWFO
CZ
B
MPXFS
QSJODJQBM
BNPVOU
PVUTUBOEJOH
BOE
PUIFS
JOUFSFTU
DPTUT
PG

NJMMJPO

%FSJWBUJWF
(BJO
8F
SFDPSEFE
EFSJWBUJWF
HBJOT
PG

NJMMJPO
BOE

NJMMJPO
JO

BOE

SFTQFDUJWFMZ
8F
SFDPHOJ[F
HBJOT
PS
MPTTFT EVF
UP
UIF
DIBOHF
JO
UIF
WBMVF
PG
DFSUBJO
FNCFEEFE
GFBUVSFT
XJUIJO
PVS
EFCU
JOTUSVNFOUT
UIBU
SFRVJSF
TUBOEBMPOF
EFSJWBUJWF
BDDPVOUJOH "MUIPVHI
GMVDUVBUJPO
JO
PVS
TUPDL
QSJDF
JT
B
TJHOJGJDBOU
DBVTF
GPS
UIF
DIBOHF
JO
WBMVF
PG
UIFTF
EFSJWBUJWF
JOTUSVNFOUT
PUIFS
JOQVUT JNQBDU
UIF
WBMVF
JODMVEJOH
TUPDL
QSJDF
WPMBUJMJUZ
EJTDPVOU
SBUF
NBUVSJUZ
EBUF
QSPCBCJMJUJFT
PG
DPOWFSTJPO
BOE
DIBOHF
PG
DPOUSPM UIF
CBTF
DPOWFSTJPO
SBUF
BOE
DIBOHFT
JO
UIF
QSJODJQBM
BNPVOU
PG
OPUFT
PVUTUBOEJOH
%VSJOH

UIF
EFSJWBUJWF
HBJOT
XFSF
SFDPHOJ[FE QSJNBSJMZ
EVF
UP
UIF
BTTVNFE
IJHI
QSPCBCJMJUZ
PG
DPOWFSTJPO
PG
UIF
-PBO
"HSFFNFOU
XJUI
5IFSNP
JO
FBSMZ

XIJDI
EFDSFBTFT UIF
WBMVF
PG
PVS
EFSJWBUJWF
MJBCJMJUJFT
4FF
/PUF

'BJS
7BMVF
.FBTVSFNFOUT
UP
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
GPS
GVSUIFS EJTDVTTJPO
PG
UIF
DPNQVUBUJPO
PG
UIF
GBJS
WBMVF
PG
PVS
EFSJWBUJWFT

(BJO
PO
-FHBM
4FUUMFNFOU



*O
.BZ

XF
DPODMVEFE
UIF
TFUUMFNFOU
PG
B
CVTJOFTT
FDPOPNJD
MPTT
DMBJN
JO
XIJDI
XF
SFDFJWFE
QSPDFFET
PG

NJMMJPO OFU
PG
MFHBM
GFFT
8F
SFDFJWFE
UIF
UXP
JOTUBMMNFOUT
PG

NJMMJPO
JO
FBDI
PG
+BOVBSZ

BOE

%VSJOH
UIF
TFDPOE
RVBSUFS PG

XF
SFDPSEFE

NJMMJPO
UIF
QSFTFOU
WBMVF
PG
TVDI
QSPDFFET
BT
PUIFS
JODPNF
JO
PVS
DPOTPMJEBUFE
TUBUFNFOU
PG
PQFSBUJPOT %VSJOH
UIF
TFDPOE
RVBSUFS
PG

JO
DPOOFDUJPO
XJUI
B
GPMMPXPO
TFUUMFNFOU
SFMBUFE
UP
UIJT
NBUUFS
XF
SFDFJWFE
BEEJUJPOBM
QSPDFFET PG

NJMMJPO
BOE
SFDPSEFE
UIF
HSPTT
BNPVOU
PG
UIFTF
QSPDFFET
BT
PUIFS
JODPNF
JO
PVS
DPOTPMJEBUFE
TUBUFNFOU
PG
PQFSBUJPOT
4FF /PUF

$POUJOHFODJFT
UP
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
GPS
GVSUIFS
EJTDVTTJPO

 0UIFS
0UIFS
FYQFOTF
EFDSFBTFE
UP

NJMMJPO
JO

DPNQBSFE
UP

NJMMJPO
JO

$IBOHFT
JO
PUIFS
JODPNF
FYQFOTF
BSF EVF
QSJNBSJMZ
UP
GPSFJHO
DVSSFODZ
HBJOT
BOE
MPTTFT
SFDPHOJ[FE
EVSJOH
UIF
SFTQFDUJWF
QFSJPET
HJWFO
UIF
TJHOJGJDBOU
GJOBODJBM
TUBUFNFOU JUFNT
XF
IBWF
EFOPNJOBUFE
JO
GPSFJHO
DVSSFODJFT
JODMVEJOH
QSJNBSJMZ
UIF
#SB[JMJBO
SFBM
FVSP
BOE
$BOBEJBO
EPMMBS
5PUBM
GPSFJHO DVSSFODZ
MPTTFT
XFSF

NJMMJPO
JO

DPNQBSFE
UP
HBJOT
PG

NJMMJPO
JO

0GGTFUUJOH
UIJT
EFDSFBTF
XFSF

NJMMJPO JO
MFHBM
BOE
PUIFS
BEWJTFS
DPTUT
JODVSSFE
SFMBUFE
UP
UIF
NPEJGJDBUJPO
PG
PVS
'BDJMJUZ
"HSFFNFOU
EVSJOH

TFF
/PUF

-POH 5FSN
%FCU
BOE
0UIFS
'JOBODJOH
"SSBOHFNFOUT
GPS
GVSUIFS
EJTDVTTJPO
XIJDI
XFSF
SFDPSEFE
UP
OPOPQFSBUJOH
FYQFOTF
VOEFS BQQMJDBCMF
BDDPVOUJOH
HVJEBODF
8F
BMTP
SFDPSE
UIF
OPOPQFSBUJOH
DPNQPOFOUT
PG
OFU
QFSJPEJD
CFOFGJU
DPTU
UP
PUIFS
JODPNF
MPTT XIJDI
JODSFBTFE

NJMMJPO
GSPN

UP

EVF
QSJNBSJMZ
UP
UIF
TFUUMFNFOU
PG
B
QPSUJPO
PG
PVS
QFOTJPO
MJBCJMJUZ
SFMBUFE
UP UFSNJOBUFE
WFTUFE
FNQMPZFFT
JO
%FDFNCFS


*ODPNF
5BY
&YQFOTF

*ODPNF
UBY
FYQFOTF
JODSFBTFE

NJMMJPO
UP

NJMMJPO
JO

DPNQBSFE
UP

NJMMJPO
JO

%VSJOH

XF
SFDPSEFE B
EFGFSSFE
TUBUF
UBY
MJBCJMJUZ
XJUI
BO
PGGTFUUJOH
FYQFOTF
PG

NJMMJPO
SFMBUFE
UP
OFU
PQFSBUJOH
MPTT
MJNJUBUJPOT
PO
EFGFSSFE
UBY CBMBODFT
JO
DFSUBJO
TUBUFT
XJUIJO
UIF
6OJUFE
4UBUFT

$PNQBSJTPO
PG
UIF
3FTVMUT
PG
0QFSBUJPOT
GPS
UIF
ZFBST
FOEFE
%FDFNCFS


BOE


%JTDVTTJPO
PG
UIF
SFTVMUT
PG
PQFSBUJPOT
GPS
UIF
ZFBST
FOEFE
%FDFNCFS


BOE

DBO
CF
GPVOE
JO
UIF
(MPCBMTUBS
"OOVBM 3FQPSU
PO
'PSN
,
GPS
UIF
ZFBS
FOEFE
%FDFNCFS


BT
GJMFE
XJUI
UIF
4&$
PO
'FCSVBSZ



 -JRVJEJUZ
BOE
$BQJUBM
3FTPVSDFT
0VS
QSJODJQBM
MJRVJEJUZ
SFRVJSFNFOUT
JODMVEF
QBZJOH
PVS
EFCU
TFSWJDF
PCMJHBUJPOT
BOE
GVOEJOH
PVS
PQFSBUJOH
DPTUT
JODMVEJOH DFSUBJO
DPOUSBDUVBM
PCMJHBUJPOT
EJTDVTTFE
JO
UIF
$POUSBDUVBM
0CMJHBUJPOT
BOE
$PNNJUNFOUT
TFDUJPO
CFMPX
0VS
QSJODJQBM
TPVSDFT PG
MJRVJEJUZ
JODMVEF
DBTI
PO
IBOE
SFTUSJDUFE
DBTI
BOE
DBTI
GMPXT
GSPN
PQFSBUJPOT
$BTI
'MPXT
GPS
UIF
ZFBST
FOEFE
%FDFNCFS



BOE

5IF
GPMMPXJOH
UBCMF
TIPXT
PVS
DBTI
GMPXT
GSPN
PQFSBUJOH
JOWFTUJOH
BOE
GJOBODJOH
BDUJWJUJFT
JO
UIPVTBOET 

:FBS
&OEFE
%FDFNCFS
 4UBUFNFOUT
PG
$BTI
'MPXT    /FU
DBTI
QSPWJEFE
CZ
PQFSBUJOH
BDUJWJUJFT          /FU
DBTI
VTFE
JO
JOWFTUJOH
BDUJWJUJFT       /FU
DBTI
QSPWJEFE
CZ
VTFE
JO
GJOBODJOH
BDUJWJUJFT       &GGFDU
PG
FYDIBOHF
SBUF
DIBOHFT
PO
DBTI
DBTI
FRVJWBMFOUT
BOE
SFTUSJDUFE
DBTI    /FU
JODSFBTF
EFDSFBTF
JO
DBTI
DBTI
FRVJWBMFOUT
BOE
SFTUSJDUFE
DBTI         

$BTI
'MPXT
1SPWJEFE
CZ
0QFSBUJOH
"DUJWJUJFT
/FU
DBTI
QSPWJEFE
CZ
PQFSBUJPOT
JODMVEFT
QSJNBSJMZ
DBTI
SFDFJQUT
GSPN
TVCTDSJCFST
SFMBUFE
UP
UIF
QVSDIBTF
PG
FRVJQNFOU
BOE TBUFMMJUF
WPJDF
BOE
EBUB
TFSWJDFT
8F
VTF
DBTI
JO
PQFSBUJOH
BDUJWJUJFT
QSJNBSJMZ
GPS
QFSTPOOFM
DPTUT
JOWFOUPSZ
QVSDIBTFT
BOE
PUIFS HFOFSBM
DPSQPSBUF
FYQFOEJUVSFT
/FU
DBTI
QSPWJEFE
CZ
PQFSBUJOH
BDUJWJUJFT
XBT

NJMMJPO
EVSJOH

DPNQBSFE
UP

NJMMJPO EVSJOH

5IJT
EFDSFBTF
XBT
EVF
QSJNBSJMZ
UP
MPXFS
OFU
JODPNF
BGUFS
BEKVTUJOH
GPS
OPODBTI
JUFNT
-PXFS
OFU
JODPNF
XBT
ESJWFO CZ

IJHIFS
JOUFSFTU
FYQFOTF
ESJWFO
CZ
B
MPXFS
BNPVOU
PG
DBTI
JOUFSFTU
DBQJUBMJ[FE
EVSJOH

BT
XFMM
BT
IJHIFS
HSPTT
JOUFSFTU QBZNFOUT
EVF
UP
UIF
QBZNFOU
PG
BDDSVFE
JOUFSFTU
PO
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
JO
/PWFNCFS


DPTUT
BTTPDJBUFE XJUI
FGGPSUT
UP
SFGJOBODF
PVS
EFCU
PCMJHBUJPOT
JODMVEJOH
B
UIF
XSJUFPGG
PG
GJOBODJOH
DPTUT
GPS
UIF
JTTVBODF
PG
OFX
GJSTUMJFO
EFCU UIBU
XBT
VMUJNBUFMZ
OPU
QVSTVFE
BT
XFMM
BT
UIJSEQBSUZ
DPTUT
UP
TVQQPSU
UIF
NPEJGJDBUJPO
PG
PVS
'BDJMJUZ
"HSFFNFOU
BOE
C
UIF
XSJUF PGG
PG
B
QPSUJPO
PG
SFNBJOJOH
EFGFSSFE
GJOBODJOH
DPTUT
SFTVMUJOH
GSPN
UIF
QBSUJBM
QBZEPXO
PG
UIF
'BDJMJUZ
"HSFFNFOU
BOE

UIF IJHIFS
DPTU
PG
HPPET
TPME
GPS
UBSJGGT
SFTVMUJOH
GSPN
B
SFDFOU
SVMJOH
PO
UIF
DMBTTJGJDBUJPO
PG
DFSUBJO
PG
PVS
QSPEVDUT

0GGTFUUJOH
UIF EFDSFBTF
EVF
UP
MPXFS
OFU
JODPNF
XFSF
GBWPSBCMF
XPSLJOH
DBQJUBM
DIBOHFT
JODMVEJOH
QSJNBSJMZ
UIF
UJNJOH
PG
QSFQBJE
BOE
PUIFS BTTFUT
BT
XFMM
BT
PUIFS
OPODVSSFOU
MJBCJMJUJFT

/FU
DBTI
QSPWJEFE
CZ
PQFSBUJOH
BDUJWJUJFT
XBT

NJMMJPO
EVSJOH

DPNQBSFE
UP

NJMMJPO
EVSJOH

5IJT
EFDSFBTF XBT
EVF
UP
VOGBWPSBCMF
DIBOHFT
JO
DFSUBJO
PQFSBUJOH
BTTFUT
BOE
MJBCJMJUJFT
QSJNBSJMZ
SFTVMUJOH
GSPN
UIF
UJNJOH
PG
QSFQBJE
BTTFUT 5IFTF
VOGBWPSBCMF
DIBOHFT
XFSF
PGGTFU
CZ
IJHIFS
OFU
JODPNF
BGUFS
BEKVTUJOH
GPS
OPODBTI
JUFNT
ESJWFO
JO
QBSU
CZ
QSJDF
JODSFBTFT GPS
PVS
%VQMFY
BOE
4105
TVCTDSJCFST
DPVQMFE
XJUI
IJHIFS
$PNNFSDJBM
*P5
BOE
4105
FRVJQNFOU
TBMFT

$BTI
'MPXT
6TFE
JO
*OWFTUJOH
"DUJWJUJFT
/FU
DBTI
VTFE
JO
JOWFTUJOH
BDUJWJUJFT
XBT

NJMMJPO
EVSJOH

DPNQBSFE
UP

NJMMJPO
EVSJOH

5IJT
EFDSFBTF XBT
EVF
QSJNBSJMZ
UP
B
SFEVDUJPO
JO
UIF
BNPVOU
PG
DBTI
JOUFSFTU
DBQJUBMJ[FE
PG

NJMMJPO
"T
QSFWJPVTMZ
EJTDMPTFE
PVS
DPOTUSVDUJPO JO
QSPHSFTT
CBMBODF
IBT
EFDSFBTFE
TJHOJGJDBOUMZ
TJODF

TQFDJGJDBMMZ
SFMBUFE
UP
PVS
HSPVOE
OFUXPSL
UIFSFGPSF
UIF
BNPVOU
PG JOUFSFTU
FMJHJCMF
UP
CF
DBQJUBMJ[FE
JT
MPXFS
"MTP
DPOUSJCVUJOH
UP
UIF
WBSJBODF
JO
DBTI
VTFE
JO
JOWFTUJOH
BDUJWJUJFT
XFSF
GFXFS
QSPQFSUZ BOE
FRVJQNFOU
QVSDIBTFT
SFMBUFE
UP
PVS
HSPVOE
OFUXPSL
BOE
QSPEVDU
EFWFMPQNFOU
JODMVEJOH
TPGUXBSF
BOE
PUIFS
CBDLPGGJDF
FGGPSUT

/FU
DBTI
VTFE
JO
JOWFTUJOH
BDUJWJUJFT
XBT

NJMMJPO
EVSJOH

DPNQBSFE
UP

NJMMJPO
EVSJOH

5IJT
EFDSFBTF XBT
ESJWFO
CZ
MPXFS
TFDPOEHFOFSBUJPO
OFUXPSL
BEEJUJPOT
JO

BT
XF
TVCTUBOUJBMMZ
DPNQMFUFE
UIF
EFQMPZNFOU
PG
PVS
OFYU HFOFSBUJPO
HSPVOE
JOGSBTUSVDUVSF
5IJT
EFDSFBTF
XBT
PGGTFU
QBSUJBMMZ
CZ
IJHIFS
QSPQFSUZ
BOE
FRVJQNFOU
BEEJUJPOT
EVSJOH

BT XF
JODVSSFE
DPTUT
UP
CSJOH
PVS
OFXMZ
EFWFMPQFE
QSPEVDUT
JOUP
QSPEVDUJPO
JODMVEJOH
TPGUXBSF
BOE
PUIFS
CBDLPGGJDF
FGGPSUT

 $BTI
'MPXT
1SPWJEFE
6TFE
JO
CZ
'JOBODJOH
"DUJWJUJFT
/FU
DBTI
VTFE
JO
GJOBODJOH
BDUJWJUJFT
XBT

NJMMJPO
JO

DPNQBSFE
UP

NJMMJPO
JO

*O
+VOF

XF
FOUFSFE JOUP
B

NJMMJPO
4VCPSEJOBUFE
-PBO
"HSFFNFOU
UIF
QSPDFFET
GSPN
XIJDI
XFSF
VTFE
JO
QBSU
UP
QBZ
QSJODJQBM
PG

NJMMJPO UPXBSET
PVS
'BDJMJUZ
"HSFFNFOU
*O
/PWFNCFS

XF
DPNQMFUFE
B
CSPBE
SFGJOBODJOH
XIJDI
JODMVEFE
UIF
JTTVBODF
PG
B
 NJMMJPO
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
5IF
QSPDFFET
OFU
PG
B

NJMMJPO
PS

0*%
DPNCJOFE
XJUI
DBTI
PO
IBOE
BOE
SFTUSJDUFE DBTI
XFSF
VTFE
UP
QSFQBZ
B
QPSUJPO
PG
PVS
'BDJMJUZ
"HSFFNFOU
PG

NJMMJPO
1SPDFFET
GSPN
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ XFSF
BMTP
VTFE
UP
QBZ
PGG
UIF
FOUJSF
CBMBODF
PG
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
PG

NJMMJPO
QMVT
BDDSVFE
JOUFSFTU
PG
 NJMMJPO
8F
JODVSSFE

NJMMJPO
JO
EFCU
GJOBODJOH
DPTUT
BTTPDJBUFE
XJUI
UIF
/PWFNCFS

SFGJOBODJOH
"EEJUJPOBMMZ
XF
JTTVFE XBSSBOUT
UP
QVSDIBTF
TIBSFT
PG
PVS
DPNNPO
TUPDL
UP
FBDI
PG
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
MFOEFST
*O
%FDFNCFS
 5IFSNP
FYFSDJTFE

NJMMJPO
XBSSBOUT
SFTVMUJOH
JO
DBTI
QSPDFFET
UP
VT
PG

NJMMJPO

/FU
DBTI
VTFE
JO
GJOBODJOH
BDUJWJUJFT
XBT

NJMMJPO
JO

DPNQBSFE
UP
DBTI
QSPWJEFE
CZ
GJOBODJOH
BDUJWJUJFT
PG
 NJMMJPO
JO

5IF
DIBOHF
JO
GJOBODJOH
BDUJWJUJFT
XBT
ESJWFO
QSJNBSJMZ
CZ
MPXFS
DBTI
QSPDFFET
GSPN
FRVJUZ
GJOBODJOHT
JO
 SFTVMUJOH
JO
B
EFDMJOF
PG
DBTI
QSPWJEFE
UP
VT
PG

NJMMJPO
PGGTFU
QBSUJBMMZ
CZ
MPXFS
EFCU
TFSWJDF
QBZNFOUT
EVF
QSJNBSJMZ
CZ UIF
QBZNFOU
PG
B

NJMMJPO
EFCU
SFTUSVDUVSJOH
GFF
JO

UIBU
EJE
OPU
SFDVS
JO


0WFSWJFX
"T
PG
%FDFNCFS


XF
IFME
DBTI
BOE
DBTI
FRVJWBMFOUT
PG

NJMMJPO
BOE
SFTUSJDUFE
DBTI
PG

NJMMJPO
DPOTJTUJOH PG
UIF
CBMBODF
JO
PVS
EFCU
TFSWJDF
SFTFSWF
BDDPVOU
VOEFS
PVS
'BDJMJUZ
"HSFFNFOU
5IF
'BDJMJUZ
"HSFFNFOU
SFTUSJDUT
UIF
VTF
PG
UIFTF GVOET
UP
NBLJOH
QSJODJQBM
BOE
JOUFSFTU
QBZNFOUT
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
4FF
CFMPX
GPS
GVSUIFS
EJTDVTTJPO
"T
PG
%FDFNCFS
 
XF
IFME
DBTI
BOE
DBTI
FRVJWBMFOUT
PG

NJMMJPO
BOE
IBE

NJMMJPO
JO
SFTUSJDUFE
DBTI

5IF
DBSSZJOH
BNPVOU
PG
PVS
MPOHUFSN
EFCU
PVUTUBOEJOH
XBT

NJMMJPO
BU
%FDFNCFS


DPNQBSFE
UP
DVSSFOU
BOE MPOHUFSN
EFCU
PG

NJMMJPO
BOE

NJMMJPO
SFTQFDUJWFMZ
BU
%FDFNCFS


5IF
DVSSFOU
QPSUJPO
PG
PVS
EFCU
SFQSFTFOUT QSJNBSJMZ
QSJODJQBM
QBZNFOUT
VOEFS
PVS
'BDJMJUZ
"HSFFNFOU
TDIFEVMFE
UP
PDDVS
XJUIJO

NPOUIT
PG
UIF
CBMBODF
TIFFU
EBUF
8F IBE
OP
DVSSFOU
EFCU
PVUTUBOEJOH
BU
%FDFNCFS


GPMMPXJOH
UIF
BNFOENFOU
UP
UIF
QSJODJQBM
BNPSUJ[BUJPO
TDIFEVMF
JO
PVS 'BDJMJUZ
"HSFFNFOU
JO
/PWFNCFS


5IF

NJMMJPO
JODSFBTF
JO
UIF
DBSSZJOH
BNPVOU
PG
PVS
UPUBM
EFCU
CBMBODF
XBT
EVF
UP
UIF
GPMMPXJOH

UIF
JTTVBODF
PG
UIF 4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
JO
/PWFNCFS

UIF
DBSSZJOH
WBMVF
PG
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XBT

NJMMJPO BU
%FDFNCFS


XIJDI
JODMVEFT
1*,
JOUFSFTU
PG

NJMMJPO
BOE
JT
OFU
PG
B

NJMMJPO
EFCU
EJTDPVOU

B
IJHIFS
DBSSZJOH WBMVF
PG
UIF
-PBO
"HSFFNFOU
XJUI
5IFSNP
EVF
UP
JOUFSFTU
BDDSVJOH
PO
UIBU
EFCU
BOE
BDDSFUJPO
PG
UIF
EFCU
EJTDPVOU
PG

NJMMJPO BOE

B
IJHIFS
DBSSZJOH
WBMVF
PG
UIF
'BDJMJUZ
"HSFFNFOU
EVF
UP
BDDSFUJPO
BOE
B
QBSUJBM
XSJUFPGG
PG
EFCU
GJOBODJOH
DPTUT
PG
 NJMMJPO
GPMMPXJOH
UIF
'BDJMJUZ
"HSFFNFOU
BNFOENFOU
5IJT
JODSFBTF
JO
PVS
UPUBM
EFCU
CBMBODF
XBT
PGGTFU
QBSUJBMMZ
CZ
QSJODJQBM QBZNFOUT
PG

NJMMJPO
PG
UIF
'BDJMJUZ
"HSFFNFOU
JODMVEJOH

NJMMJPO
VTJOH
QSPDFFET
GSPN
UIF
EFCU
TFSWJDF
SFTFSWF
BDDPVOU BOE
DBTI
PO
IBOE
JO
/PWFNCFS

BOE

NJMMJPO
VTJOH
QSPDFFET
GSPN
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
BOE
4FDPOE
-JFO 5FSN
-PBO
'BDJMJUZ
*OEFCUFEOFTT
BOE
"WBJMBCMF
$SFEJU

'BDJMJUZ
"HSFFNFOU
*O

XF
FOUFSFE
JOUP
UIF
'BDJMJUZ
"HSFFNFOU
XIJDI
XBT
BNFOEFE
BOE
SFTUBUFE
JO
+VMZ

"VHVTU

+VOF

BOE /PWFNCFS

5IF
'BDJMJUZ
"HSFFNFOU
JT
TDIFEVMFE
UP
NBUVSF
JO
%FDFNCFS


0VS
JOEFCUFEOFTT
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
CFBST
JOUFSFTU
BU
B
GMPBUJOH
SBUF
PG
-*#03
QMVT

UISPVHI
+VOF
 JODSFBTJOH
CZ
BO
BEEJUJPOBM

FBDI
ZFBS
UIFSFBGUFS
UP
B
NBYJNVN
SBUF
PG
-*#03
QMVT

*OUFSFTU
PO
UIF
'BDJMJUZ
"HSFFNFOU JT
QBZBCMF
TFNJBOOVBM
JO
BSSFBST
JO
+VOF
BOE
%FDFNCFS
PG
FBDI
DBMFOEBS
ZFBS
/JOFUZGJWF
QFSDFOU
PG
PVS
PCMJHBUJPOT
VOEFS
UIF 'BDJMJUZ
"HSFFNFOU
BSF
HVBSBOUFFE
CZ
#QJGSBODF
"TTVSBODF
&YQPSU
4"4
#1*'"&
GPSNFSMZ
$0'"$& 
0VS
PCMJHBUJPOT
VOEFS UIF
'BDJMJUZ
"HSFFNFOU
BSF
HVBSBOUFFE
PO
B
TFOJPS
TFDVSFE
CBTJT
CZ
BMM
PG
PVS
EPNFTUJD
TVCTJEJBSJFT
BOE
BSF
TFDVSFE
CZ
B
GJSTU QSJPSJUZ
MJFO
PO
TVCTUBOUJBMMZ
BMM
PG
PVS
BTTFUT
BOE
PVS
EPNFTUJD
TVCTJEJBSJFT
PUIFS
UIBO
UIFJS
'$$
MJDFOTFT
JODMVEJOH
QBUFOUT
BOE USBEFNBSLT

PG
UIF
FRVJUZ
PG
PVS
EPNFTUJD
TVCTJEJBSJFT
BOE

PG
UIF
FRVJUZ
PG
DFSUBJO
GPSFJHO
TVCTJEJBSJFT

5IF
'BDJMJUZ
"HSFFNFOU
DPOUBJOT
DVTUPNBSZ
FWFOUT
PG
EFGBVMU
BOE
SFRVJSFT
UIBU
XF
TBUJTGZ
WBSJPVT
GJOBODJBM
BOE
OPOGJOBODJBM DPWFOBOUT
5IF
DPNQMJBODF
DBMDVMBUJPOT
PG
UIF
GJOBODJBM
DPWFOBOUT
PG
UIF
'BDJMJUZ
"HSFFNFOU
QFSNJU
VT
UP
JODMVEF
DFSUBJO
DBTI GVOET
XF
SFDFJWF
GSPN
UIF
JTTVBODF
PG
PVS
DPNNPO
TUPDL
BOEPS
TVCPSEJOBUFE
JOEFCUFEOFTT
8F
SFGFS
UP
UIFTF
GVOET
BT
&RVJUZ $VSF
$POUSJCVUJPOT
*G
XF
WJPMBUF
BOZ
DPWFOBOUT
BOE
BSF
VOBCMF
UP
PCUBJO
B
TVGGJDJFOU
&RVJUZ
$VSF
$POUSJCVUJPO
PS
B
XBJWFS
PS

 BSF
VOBCMF
UP
NBLF
QBZNFOUT
UP
TBUJTGZ
PVS
EFCU
PCMJHBUJPOT
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
BOE
BSF
VOBCMF
UP
PCUBJO
B
XBJWFS
XF XPVME
CF
JO
EFGBVMU
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
BOE
UIF
MFOEFST
DPVME
BDDFMFSBUF
QBZNFOU
PG
UIF
JOEFCUFEOFTT
"T
PG
%FDFNCFS
 
XF
XFSF
JO
DPNQMJBODF
XJUI
SFTQFDU
UP
UIF
DPWFOBOUT
PG
UIF
'BDJMJUZ
"HSFFNFOU

5IF
'BDJMJUZ
"HSFFNFOU
SFRVJSFT
UIBU
XF
NBJOUBJO
B
EFCU
TFSWJDF
SFTFSWF
BDDPVOU
UIBU
JT
QMFEHFE
UP
TFDVSF
PVS
PCMJHBUJPOT
VOEFS UIF
'BDJMJUZ
"HSFFNFOU
"T
QBSU
PG
UIF
BNFOENFOU
UP
UIF
'BDJMJUZ
"HSFFNFOU
JO
/PWFNCFS

UIF
SFRVJSFE
CBMBODF
JO
UIF
EFCU TFSWJDF
SFTFSWF
BDDPVOU
JT
OPX
GJYFE
"T
PG
%FDFNCFS


UIF
CBMBODF
JO
UIF
EFCU
TFSWJDF
SFTFSWF
BDDPVOU
XBT
BQQSPYJNBUFMZ 
NJMMJPO
PG
XIJDI

NJMMJPO
JT
DMBTTJGJFE
BT
OPODVSSFOU
SFTUSJDUFE
DBTI
PO
PVS
DPOTPMJEBUFE
CBMBODF
TIFFU
BT
JU
XJMM
CF VTFE
UPXBSET
UIF
GJOBM
TDIFEVMFE
QBZNFOU
EVF
VQPO
NBUVSJUZ
PG
UIF
'BDJMJUZ
"HSFFNFOU
JO
%FDFNCFS

5IF
SFNBJOJOH
CBMBODF PG

NJMMJPO
JT
DMBTTJGJFE
BT
DVSSFOU
BOE
SFQSFTFOUT
UIF
QPSUJPO
PG
UIF
EFCU
TFSWJDF
SFTFSWF
BDDPVOU
JO
FYDFTT
PG
UIF
SFRVJSFE CBMBODF
8F
FYQFDU
UP
SFDFJWF
UIJT
BNPVOU
GSPN
PVS
MFOEFST
EVSJOH
UIF
OFYU
UXFMWF
NPOUIT

*O
/PWFNCFS

XF
BNFOEFE
BOE
SFTUBUFE
UIF
'BDJMJUZ
"HSFFNFOU
BOE
FOUFSFE
JOUP
B
'PVSUI
(MPCBM
"NFOENFOU
BOE 3FTUBUFNFOU
"HSFFNFOU
UIF
a
("3"b 
5IF

("3"
BNPOH
PUIFS
UIJOHT
SFWJTFE
UIF
SFNBJOJOH
QSJODJQBM
BNPSUJ[BUJPO TDIFEVMF
UP
SFGMFDU
JO
QBSU
B

NJMMJPO
QSFQBZNFOU
VTJOH
QSJNBSJMZ
UIF
QSPDFFET
GSPN
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ EJTDVTTFE
CFMPX 
SFEVDFE
UIF
SFRVJSFE
CBMBODF
JO
UIF
EFCU
TFSWJDF
SFTFSWF
BDDPVOU
SFRVJSFE
VT
UP
SBJTF
OP
MFTT
UIBO

NJMMJPO PG
FRVJUZ
QSJPS
UP
.BSDI


WJB
UIF
DBTI
FYFSDJTF
PG
PVUTUBOEJOH
XBSSBOUT
UP
CF
BQQMJFE
UPXBSET
UIF
QSJODJQBM
QBZNFOU
EVF PO
+VOF


SFTFU
GJOBODJBM
DPWFOBOU
MFWFMT
BOE
FYUFOEFE
PVS
BCJMJUZ
UP
NBLF
&RVJUZ
$VSF
$POUSJCVUJPOT
UISPVHI
UIF
NBUVSJUZ EBUF

4FF
/PUF

-POH5FSN
%FCU
BOE
0UIFS
'JOBODJOH
"SSBOHFNFOUT
UP
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
GPS
GVSUIFS
EJTDVTTJPO PG
UIF
'BDJMJUZ
"HSFFNFOU

4VCPSEJOBUFE
-PBO
"HSFFNFOU

0O
+VMZ


XF
FOUFSFE
JOUP
B
4VCPSEJOBUFE
-PBO
"HSFFNFOU
UIF
a4VCPSEJOBUFE
-PBO
"HSFFNFOUb
FGGFDUJWF
BT
PG
+VOF 

XJUI
5IFSNP
'VOEJOH
$PNQBOZ
--$
BO
BGGJMJBUFE
FOUJUZ
UP
5IFSNP
BT
QSFWJPVTMZ
EFGJOFE
JO
UIJT
GJMJOH
BOE
DFSUBJO PUIFS
VOBGGJMJBUFE
QBSUJFT
UPHFUIFS
XJUI
5IFSNP
UIF
a-FOEFSTb 
6OEFS
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
XF
CPSSPXFE
 NJMMJPO
GSPN
UIF
-FOEFST
PO
+VOF


GPS
UIF
QSJNBSZ
QVSQPTF
PG
GVOEJOH
UIF
+VOF


TDIFEVMFE
QBZNFOU
PG
JOUFSFTU BOE
QSJODJQBM
VOEFS
PVS
'BDJMJUZ
"HSFFNFOU
BOE
NBJOUBJOJOH
DPNQMJBODF
XJUI
UIF
GJOBODJBM
DPWFOBOUT
UIFSFVOEFS
5IF
QSPDFFET GSPN
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
RVBMJGJFE
BT
BO
&RVJUZ
$VSF
$POUSJCVUJPO
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
5IF
4VCPSEJOBUFE -PBO
"HSFFNFOU
BDDSVFE
JOUFSFTU
BU

QFS
BOOVN
XIJDI
XBT
DBQJUBMJ[FE
BOE
BEEFE
UP
UIF
PVUTUBOEJOH
QSJODJQBM
JO
MJFV
PG
DBTI QBZNFOUT

1SJPS
UP
SFQBZNFOU
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
IBE
BDDSVFE
B
UPUBM
PG

NJMMJPO
*O
/PWFNCFS

UIF 4VCPSEJOBUFE
-PBO
"HSFFNFOU
XBT
QBJE
JO
GVMM
GSPN
B
QPSUJPO
PG
UIF
QSPDFFET
GSPN
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
TFF GVSUIFS
EJTDVTTJPO
CFMPX 
5IFSF
XFSF
OP
VOBNPSUJ[FE
EFGFSSFE
GJOBODJOH
DPTUT
PO
UIF
SFQBZNFOU
EFCU

4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ

*O
/PWFNCFS

XF
FOUFSFE
JOUP
B

NJMMJPO
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XJUI
5IFSNP
&DIP4UBS
$PSQPSBUJPO
BOE DFSUBJO
PUIFS
VOBGGJMJBUFE
MFOEFST
5IF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
JT
TDIFEVMFE
UP
NBUVSF
JO
/PWFNCFS

5IF
MPBOT
VOEFS UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
CFBS
JOUFSFTU
BU
B
CMFOEFE
SBUF
PG

QFS
BOOVN
UP
CF
QBJEJOLJOE
PS
JO
DBTI
BU
PVS
PQUJPO TVCKFDU
UP
SFTUSJDUJPOT
JO
UIF
'BDJMJUZ
"HSFFNFOU 

5IF
DBTI
QSPDFFET
GSPN
UIJT
MPBO
XFSF
OFU
PG
B

PSJHJOBM
JTTVF
EJTDPVOU

"T
BEEJUJPOBM
DPOTJEFSBUJPO
GPS
UIF
MPBO
XF
JTTVFE
UIF
MFOEFST
XBSSBOUT
UP
QVSDIBTF

NJMMJPO
TIBSFT
PG
DPNNPO
TUPDL
BO FYFSDJTF
QSJDF
PG

QFS
TIBSF
5IFTF
XBSSBOUT
FYQJSF
PO
.BSDI


*O
%FDFNCFS

5IFSNP
FYFSDJTFE

NJMMJPO XBSSBOUT
SFTVMUJOH
JO
DBTI
QSPDFFET
PG

NJMMJPO
UP
UIF
$PNQBOZ

"
QPSUJPO
PG
UIF
QSPDFFET
GSPN
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XBT
VTFE
UP
SFQBZ
BMM
PG
PVS
PCMJHBUJPOT
VOEFS
UIF
4VCPSEJOBUFE -PBO
"HSFFNFOU
5IF
SFNBJOJOH
QSPDFFET
PG
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XFSF
VTFE
UPXBSET
UIF
QSFQBZNFOU
PG
TDIFEVMFE QSJODJQBM
QBZNFOUT
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU

5IF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
DPOUBJOT
DVTUPNBSZ
FWFOUT
PG
EFGBVMU
BOE
SFRVJSFT
VT
UP
TBUJTGZ
WBSJPVT
GJOBODJBM
BOE
OPO GJOBODJBM
DPWFOBOUT
"T
PG
%FDFNCFS


XF
XFSF
JO
DPNQMJBODF
XJUI
BMM
UIF
DPWFOBOUT
PG
UIF
4FDPOE
-JFO
5FSN
-PBO 'BDJMJUZ

4FF
/PUF

-POH5FSN
%FCU
BOE
0UIFS
'JOBODJOH
"SSBOHFNFOUT
JO
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
GPS
GVSUIFS
EJTDVTTJPO PG
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ

 5IFSNP
-PBO
"HSFFNFOU
8F
IBWF
BO
BNFOEFE
BOE
SFTUBUFE
MPBO
BHSFFNFOU
XJUI
5IFSNP
UIF
a-PBO
"HSFFNFOUb 
0VS
PCMJHBUJPOT
UP
5IFSNP
VOEFS
UIF -PBO
"HSFFNFOU
BSF
TVCPSEJOBUFE
UP
BMM
PG
PVS
PCMJHBUJPOT
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
BOE
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ 5IF
-PBO
"HSFFNFOU
JT
DPOWFSUJCMF
JOUP
TIBSFT
PG
DPNNPO
TUPDL
BU
B
DPOWFSTJPO
QSJDF
PG

BT
BEKVTUFE
QFS
TIBSF
PG
DPNNPO TUPDL
"NPVOUT
PVUTUBOEJOH
VOEFS
UIF
-PBO
"HSFFNFOU
BDDSVF
JOUFSFTU
BU

QFS
BOOVN
XIJDI
XF
DBQJUBMJ[F
BOE
BEE
UP
UIF PVUTUBOEJOH
QSJODJQBM
JO
MJFV
PG
DBTI
QBZNFOUT
"T
PG
%FDFNCFS


UIF
QSJODJQBM
BNPVOU
PVUTUBOEJOH
XBT

NJMMJPO JODMVEJOH

NJMMJPO
PG
JOUFSFTU
UIBU
IBE
BDDSVFE
TJODF

VOEFS
UIF
-PBO
"HSFFNFOU

1SJODJQBM
BOE
JOUFSFTU
VOEFS
UIF
-PBO
"HSFFNFOU
CFDPNF
EVF
BOE
QBZBCMF
TJY
NPOUIT
BGUFS
UIF
PCMJHBUJPOT
VOEFS
UIF
'BDJMJUZ "HSFFNFOU
IBWF
CFFO
QBJE
JO
GVMM
IPXFWFS
UIF
/PWFNCFS

'JOBODF
%PDVNFOUT
JODMVEJOH
UIF
BNFOEFE
BOE
SFTUBUFE
'BDJMJUZ "HSFFNFOU
BOE
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
QFSNJU
UIF
DPOWFSTJPO
PG
BMM
BNPVOUT
PVUTUBOEJOH
VOEFS
UIF
-PBO
"HSFFNFOU CZ
+VOF


PS
FBSMJFS
JG
UIFSF
JT
B
DIBOHF
JO
DPOUSPM
PS
BOZ
BDDFMFSBUJPO
PG
UIF
NBUVSJUZ
PG
UIF
MPBOT
VOEFS
UIF
'BDJMJUZ "HSFFNFOU
PS
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
PDDVST
*O
DPOOFDUJPO
XJUI
UIF
/PWFNCFS

SFGJOBODJOH
5IFSNP
DPNNJUUFE UP
DPOWFSU
UIF
UPUBM
QSJODJQBM
CBMBODF
PVUTUBOEJOH
VOEFS
UIF
-PBO
"HSFFNFOU
CZ
.BSDI


PO
'FCSVBSZ


5IFSNP DPOWFSUFE
UIF
FOUJSF
QSJODJQBM
CBMBODF
PVUTUBOEJOH
SFTVMUJOH
JO
UIF
JTTVBODF
PG

NJMMJPO
TIBSFT
PG
DPNNPO
TUPDL

4FF
/PUF

-POH5FSN
%FCU
BOE
0UIFS
'JOBODJOH
"SSBOHFNFOUT
JO
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
GPS
GVSUIFS
EJTDVTTJPO PG
UIF
5IFSNP
-PBO
"HSFFNFOU

$POWFSUJCMF
4FOJPS
/PUFT
*TTVFE
JO

0VS


/PUFT
BSF
DPOWFSUJCMF
JOUP
TIBSFT
PG
PVS
DPNNPO
TUPDL
BU
B
DPOWFSTJPO
QSJDF
PG

BT
BEKVTUFE
QFS
TIBSF PG
DPNNPO
TUPDL
"T
PG
%FDFNCFS


UIF
QSJODJQBM
BNPVOU
PVUTUBOEJOH
PG
UIF


/PUFT
XBT

NJMMJPO
5IF 

/PUFT
XJMM
NBUVSF
PO
"QSJM


TVCKFDU
UP
WBSJPVT
DBMM
BOE
QVU
GFBUVSFT
*OUFSFTU
PO
UIF


/PUFT
JT QBZBCMF
TFNJBOOVBMMZ
JO
BSSFBST
PO
"QSJM

BOE
0DUPCFS

PG
FBDI
ZFBS
8F
QBZ
JOUFSFTU
JO
DBTI
BU
B
SBUF
PG

QFS
BOOVN
BOE CZ
JTTVJOH
BEEJUJPOBM


/PUFT
BU
B
SBUF
PG

QFS
BOOVN

"
IPMEFS
PG


/PUFT
IBT
UIF
SJHIU
BU
UIF
IPMEFSgT
PQUJPO
UP
SFRVJSF
VT
UP
QVSDIBTF
TPNF
PS
BMM
PG
UIF

 /PUFT
PO
"QSJM


BU
B
QSJDF
FRVBM
UP
UIF
QSJODJQBM
BNPVOU
PG
UIF


/PUFT
UP
CF
QVSDIBTFE
QMVT
BDDSVFE
BOE
VOQBJE JOUFSFTU

5IF
JOEFOUVSF
HPWFSOJOH
UIF


/PUFT
QSPWJEFT
GPS
DVTUPNBSZ
FWFOUT
PG
EFGBVMU
"T
PG
%FDFNCFS


XF
XFSF JO
DPNQMJBODF
XJUI
UIF
UFSNT
PG
UIF


/PUFT
BOE
UIF
*OEFOUVSF

4FF
/PUF

-POH5FSN
%FCU
BOE
0UIFS
'JOBODJOH
"SSBOHFNFOUT
JO
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
GPS
GVSUIFS
EJTDVTTJPO PG
UIF


/PUFT

$POUSBDUVBM
0CMJHBUJPOT
BOE
$PNNJUNFOUT
$POUSBDUVBM
PCMJHBUJPOT
BU
%FDFNCFS


BSF
BT
GPMMPXT
JO
UIPVTBOET 

$POUSBDUVBM
0CMJHBUJPOT      5IFSFBGUFS 5PUBM %FCU
PCMJHBUJPOT
              k       *OUFSFTU
PO
MPOHUFSN
EFCU
        k k   /FUXPSL
QVSDIBTF
PCMJHBUJPOT
       k k k   *OWFOUPSZ
QVSDIBTF
PCMJHBUJPOT
   k k k k k   0QFSBUJOH
MFBTF
PCMJHBUJPOT               1FOTJPO
PCMJHBUJPOT               5PUBM
                     
 5IFTF
BNPVOUT
JODMVEF
QSJODJQBM
BOE
QBZNFOU
JO
LJOE
JOUFSFTU
QBZNFOUT

*OUFSFTU
PO
UIF
-PBO
"HSFFNFOU
XJUI
5IFSNP
BDDSVFT
BU

QFS
BOOVN
BOE
JT
DBQJUBMJ[FE
BOE
BEEFE
UP
UIF
UPUBM
PVUTUBOEJOH QSJODJQBM
JO
MJFV
PG
DBTI
QBZNFOUT
1SJODJQBM
BOE
JOUFSFTU
VOEFS
UIF
-PBO
"HSFFNFOU
XJUI
5IFSNP
XBT
EVF
BOE
QBZBCMF
JO +VOF

5IFSNP
DPOWFSUFE
UIF
QSJODJQBM
BNPVOU
PVUTUBOEJOH
VOEFS
UIF
-PBO
"HSFFNFOU
JOUP
TIBSFT
PG
DPNNPO
TUPDL
PO 'FCSVBSZ


UIFSFGPSF
XF
TIPX
UIJT
QBZNFOU
JO


 *O
DPOOFDUJPO
XJUI
UIF

("3"
XF
XFSF
SFRVJSFE
UP
TXFFQ
FYDFTT
DBTI
JO
+BOVBSZ

NFBTVSFE
BT
PG
%FDFNCFS
 
5IF
UPUBM
QBZNFOU
PG

NJMMJPO
XBT
DBMDVMBUFE
BDDPSEJOH
UP
UIF
'BDJMJUZ
"HSFFNFOU
BOE
JT
TIPXO
JO
UIF
UBCMF
BCPWF JO

5IJT
QBZNFOU
SFEVDFE
UIF
OFYU
QSJODJQBM
QBZNFOU
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
XIJDI
JT
TDIFEVMFE
GPS
+VOF


*OUFSFTU
PO
UIF


/PUFT
JT
QBZBCMF
TFNJBOOVBMMZ
JO
DBTI
BU
B
SBUF
PG

QFS
BOOVN
BOE
JO
BEEJUJPOBM
OPUFT
BU
B SBUF
PG

QFS
BOOVN
5IF
NBUVSJUZ
EBUF
PG
UIF


/PUFT
JT
"QSJM


IPXFWFS
UIF
IPMEFST
PG
UIFTF
OPUFT DBO
SFRVJSF
VT
UP
QVSDIBTF
BOZ
PS
BMM
PG
UIF
OPUFT
BU
QBS
JO
DBTI
PO
"QSJM


'PS
QVSQPTFT
PG
UIJT
TDIFEVMF
XF
TIPX
UIFTF OPUFT
BT
EVF
JO

CFDBVTF
PG
UIJT
QVU
PQUJPO

*OUFSFTU
PO
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
BDDSVFT
JOUFSFTU
BU
B
CMFOEFE
SBUF
PG

QFS
BOOVN
BOE
JT
DBQJUBMJ[FE
BOE BEEFE
UP
UIF
UPUBM
PVUTUBOEJOH
QSJODJQBM
JO
MJFV
PG
DBTI
QBZNFOUT
1SJODJQBM
BOE
JOUFSFTU
VOEFS
UIF
4FDPOE
-JFO
5FSN
-PBO 'BDJMJUZ
CFDPNF
EVF
BOE
QBZBCMF
JO
/PWFNCFS


4FF
/PUF

-POH5FSN
%FCU
BOE
0UIFS
'JOBODJOH
"SSBOHFNFOUT
JO
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
GPS
GVSUIFS EJTDVTTJPO
PG
UIFTF
EFCU
BSSBOHFNFOUT

 "NPVOUT
JODMVEF
QSPKFDUFE
JOUFSFTU
QBZNFOUT
UP
CF
NBEF
JO
DBTI
%FCU
PVUTUBOEJOH
VOEFS
PVS
'BDJMJUZ
"HSFFNFOU
CFBST
JOUFSFTU BU
B
GMPBUJOH
SBUF
BOE
BDDPSEJOHMZ
XF
FTUJNBUFE
PVS
JOUFSFTU
DPTUT
JO
GVUVSF
QFSJPET
"NPVOUT
BMTP
JODMVEF
QSPKFDUFE
DBTI JOUFSFTU
UP
CF
QBJE
PO
UIF


/PUFT
UISPVHI
"QSJM


TFF
GVSUIFS
EJTDVTTJPO
BCPWF 

 8F
IBWF
QVSDIBTF
DPNNJUNFOUT
XJUI
DFSUBJO
WFOEPST
SFMBUFE
UP
UIF
QSPDVSFNFOU
EFQMPZNFOU
BOE
NBJOUFOBODF
PG
PVS
TFDPOE HFOFSBUJPO
OFUXPSL
8F
JOUFOE
UP
DPOUJOVF
UP
QVSDIBTF
NBJOUFOBODF
BOE
XBSSBOUJFT
GPS
PVS
TFDPOEHFOFSBUJPO
OFUXPSL )PXFWFS
UIFSF
JT
OP
DPOUSBDUVBM
PCMJHBUJPO
BU
UIJT
UJNF
GPS
GVUVSF
BOOVBM
QBZNFOUT
UIFSFGPSF
XF
IBWF
FYDMVEFE
NBJOUFOBODF BOE
XBSSBOUZ
QBZNFOUT
GPS
UIFTF
DPOUSBDUT
JO
UIF
UBCMF
BCPWF

"NPVOUT
JO
UIF
UBCMF
BCPWF
JODMVEF
UIF
NJOJNVN
QVSDIBTF
DPNNJUNFOU
PG
-&0
USBDLJOH
BOUFOOBT
"EEJUJPOBMMZ
JO
DPOOFDUJPO XJUI
UIJT
DPOUSBDU
XF
BSF
PCMJHBUFE
UP
JODVS
BEEJUJPOBM
DPTUT
GPS
BVYJMJBSZ
FRVJQNFOU
BU
FBDI
JOTUBMMBUJPO
TJUF
BT
XFMM
BT
DPTUT GPS
JOTUBMMJOH
UIF
BOUFOOBT
BU
FBDI
PG
PVS
HBUFXBZT
UIFTF
BNPVOUT
BSF
OPU
JODMVEFE
JO
UIF
UBCMF
BCPWF
BT
XF
DBO
QFSGPSN
TPNF PG
UIF
XPSL
JOUFSOBMMZ
PS
UISPVHI
PUIFS
WFOEPST
5IF
BEEJUJPOBM
JOTUBMMBUJPO
DPTUT
BCPWF
BOE
CFZPOE
UIF
NJOJNVN
QVSDIBTF DPNNJUNFOU
BSF
BQQSPYJNBUFMZ

NJMMJPO
JO
FBDI
PG


BOE


4FF
/PUF

$PNNJUNFOUT
JO
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
GPS
EJTDVTTJPO
PO
PVS
DPOUSBDUVBM
DPNNJUNFOUT

 "NPVOUT
JODMVEF
PCMJHBUJPOT
GPS
OPODBODFMBCMF
QVSDIBTF
PSEFST
GPS
JOWFOUPSZ
BT
PG
%FDFNCFS


5IJT
BNPVOU
JT SFGMFDUFE
JO

CBTFE
PO
DVSSFOU
GPSFDBTUFE
FRVJQNFOU
TBMFT

0GG#BMBODF
4IFFU
5SBOTBDUJPOT

8F
IBWF
OP
NBUFSJBM
PGGCBMBODF
TIFFU
USBOTBDUJPOT

3FDFOUMZ
*TTVFE
"DDPVOUJOH
1SPOPVODFNFOUT

'PS
B
EJTDVTTJPO
PG
SFDFOU
BDDPVOUJOH
HVJEBODF
BOE
UIF
FYQFDUFE
JNQBDU
UIBU
UIF
HVJEBODF
DPVME
IBWF
PO
PVS
$POTPMJEBUFE 'JOBODJBM
4UBUFNFOUT
TFF
/PUF

4VNNBSZ
PG
4JHOJGJDBOU
"DDPVOUJOH
1PMJDJFT
JO
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT

$SJUJDBM
"DDPVOUJOH
1PMJDJFT
BOE
&TUJNBUFT

0VS
EJTDVTTJPO
BOE
BOBMZTJT
PG
PVS
GJOBODJBM
DPOEJUJPO
BOE
SFTVMUT
PG
PQFSBUJPOT
BSF
CBTFE
PO
PVS
$POTPMJEBUFE
'JOBODJBM 4UBUFNFOUT
XIJDI
IBWF
CFFO
QSFQBSFE
JO
BDDPSEBODF
XJUI
BDDPVOUJOH
QSJODJQMFT
HFOFSBMMZ
BDDFQUFE
JO
UIF
6OJUFE
4UBUFT
5IF QSFQBSBUJPO
PG
UIFTF
GJOBODJBM
TUBUFNFOUT
SFRVJSFT
VT
UP
NBLF
FTUJNBUFT
BOE
BTTVNQUJPOT
UIBU
BGGFDU
UIF
BNPVOUT
SFQPSUFE
JO
PVS $POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
BOE
BDDPNQBOZJOH
OPUFT
/PUF

4VNNBSZ
PG
4JHOJGJDBOU
"DDPVOUJOH
1PMJDJFT
JO
PVS $POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
DPOUBJOT
B
EFTDSJQUJPO
PG
UIF
BDDPVOUJOH
QPMJDJFT
VTFE
JO
UIF
QSFQBSBUJPO
PG
PVS
GJOBODJBM TUBUFNFOUT
BT
XFMM
BT
UIF
DPOTJEFSBUJPO
PG
SFDFOUMZ
JTTVFE
BDDPVOUJOH
TUBOEBSET
BOE
UIF
FTUJNBUFE
JNQBDU
UIFTF
TUBOEBSET
XJMM
IBWF PO
PVS
GJOBODJBM
TUBUFNFOUT
8F
FWBMVBUF
PVS
FTUJNBUFT
PO
BO
POHPJOH
CBTJT
JODMVEJOH
UIPTF
SFMBUFE
UP
SFWFOVF
SFDPHOJUJPO
QSPQFSUZ BOE
FRVJQNFOU
JODPNF
UBYFT
BOE
EFSJWBUJWF
JOTUSVNFOUT
8F
CBTF
PVS
FTUJNBUFT
PO
IJTUPSJDBM
FYQFSJFODF
BOE
PO
WBSJPVT
PUIFS BTTVNQUJPOT
UIBU
XF
CFMJFWF
BSF
SFBTPOBCMF
VOEFS
UIF
DJSDVNTUBODFT
"DUVBM
BNPVOUT
DPVME
EJGGFS
TJHOJGJDBOUMZ
GSPN
UIFTF
FTUJNBUFT VOEFS
EJGGFSFOU
BTTVNQUJPOT
BOE
DPOEJUJPOT

 8F
EFGJOF
B
DSJUJDBM
BDDPVOUJOH
QPMJDZ
PS
FTUJNBUF
BT
POF
UIBU
JT
CPUI
JNQPSUBOU
UP
PVS
GJOBODJBM
DPOEJUJPO
BOE
SFTVMUT
PG
PQFSBUJPOT BOE
SFRVJSFT
VT
UP
NBLF
EJGGJDVMU
TVCKFDUJWF
PS
DPNQMFY
KVEHNFOUT
PS
FTUJNBUFT
BCPVU
NBUUFST
UIBU
BSF
VODFSUBJO
8F
CFMJFWF
UIBU UIF
GPMMPXJOH
BSF
UIF
DSJUJDBM
BDDPVOUJOH
QPMJDJFT
BOE
FTUJNBUFT
VTFE
JO
UIF
QSFQBSBUJPO
PG
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT *O
BEEJUJPO
UIFSF
BSF
PUIFS
JUFNT
XJUIJO
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
UIBU
SFRVJSF
FTUJNBUFT
CVU
BSF
OPU
EFFNFE
DSJUJDBM BT
EFGJOFE
JO
UIJT
QBSBHSBQI

3FWFOVF
3FDPHOJUJPO

0VS
QSJNBSZ
UZQFT
PG
SFWFOVF
JODMVEF
J
TFSWJDF
SFWFOVF
GSPN
UXPXBZ
WPJDF
DPNNVOJDBUJPO
BOE
EBUB
USBOTNJTTJPOT
BOE
POF XBZ
EBUB
USBOTNJTTJPOT
CFUXFFO
B
NPCJMF
PS
GJYFE
EFWJDF
BOE
JJ
TVCTDSJCFS
FRVJQNFOU
SFWFOVF
GSPN
UIF
TBMF
PG
GJYFE
BOE
NPCJMF EFWJDFT
BT
XFMM
BT
PUIFS
QSPEVDUT
BOE
BDDFTTPSJFT
"EEJUJPOBMMZ
XF
HFOFSBUF
SFWFOVF
CZ
QSPWJEJOH
FOHJOFFSJOH
BOE
TVQQPSU
TFSWJDFT UP
DFSUBJO
DVTUPNFST

6OMFTT
PUIFSXJTF
EJTDMPTFE
TFSWJDF
SFWFOVF
JT
SFDPHOJ[FE
PWFS
B
QFSJPE
PG
UJNF
DPOTJTUFOU
XJUI
UIF
DVTUPNFST
SFDFJQU
BOE DPOTVNQUJPO
PG
UIF
CFOFGJUT
PG
PVS
QFSGPSNBODF
BOE
SFWFOVF
GSPN
UIF
TBMF
PG
TVCTDSJCFS
FRVJQNFOU
JT
SFDPHOJ[FE
BU
B
QPJOU
JO UJNF
DPOTJTUFOU
XJUI
UIF
USBOTGFS
PG
SJTLT
BOE
SFXBSET
PG
PXOFSTIJQ
PG
UIF
IBSEXBSF 
8F
SFDPSE
DVTUPNFS
QBZNFOUT
SFDFJWFE
JO BEWBODF
PG
UIF
DPSSFTQPOEJOH
TFSWJDF
QFSJPE
BT
EFGFSSFE
SFWFOVF
8F
QSPWJEF
%VQMFY
4105
BOE
$PNNFSDJBM
*P5
TFSWJDFT
EJSFDUMZ UP
DVTUPNFST
BOE
JOEJSFDUMZ
UISPVHI
SFTFMMFST
BOE
*(0T
$SFEJUT
HSBOUFE
UP
DVTUPNFST
BSF
FYQFOTFE
PS
DIBSHFE
BHBJOTU
SFWFOVF
PS BDDPVOUT
SFDFJWBCMF
PWFS
UIF
SFNBJOJOH
UFSN
PG
UIF
DVTUPNFS
DPOUSBDU
4VCTDSJCFS
BDRVJTJUJPO
DPTUT
QSJNBSJMZ
JODMVEF
EFBMFS
BOE JOUFSOBM
TBMFT
DPNNJTTJPOT
BOE
DFSUBJO
PUIFS
DPTUT
JODMVEJOH
CVU
OPU
MJNJUFE
UP
QSPNPUJPOBM
DPTUT
DPPQFSBUJWF
NBSLFUJOH
DSFEJUT BOE
TIJQQJOH
BOE
GVMGJMMNFOU
DPTUT
8F
DBQJUBMJ[F
JODSFNFOUBM
DPTUT
UP
PCUBJO
B
DPOUSBDU
UP
UIF
FYUFOU
XF
FYQFDU
UP
SFDPWFS
UIFN UIFTF
DPTUT
JODMVEF
JOUFSOBM
BOE
FYUFSOBM
JOJUJBM
BDUJWBUJPO
DPNNJTTJPOT
"MM
PUIFS
TVCTDSJCFS
BDRVJTJUJPOT
DPTUT
BSF
FYQFOTFE
BU
UIF UJNF
PG
UIF
SFMBUFE
TBMF

%VQMFY
4FSWJDF
3FWFOVF

8F
SFDPHOJ[F
SFWFOVF
GPS
NPOUIMZ
BDDFTT
GFFT
JO
UIF
QFSJPE
TFSWJDFT
BSF
SFOEFSFE

"DDFTT
GFFT
SFQSFTFOU
UIF
NJOJNVN
NPOUIMZ DIBSHF
GPS
FBDI
MJOF
PG
TFSWJDF
CBTFE
PO
JUT
BTTPDJBUFE
SBUF
QMBO
8F
BMTP
SFDPHOJ[F
SFWFOVF
GPS
BJSUJNF
NJOVUFT
BOE
EBUB
JO
FYDFTT PG
UIF
NPOUIMZ
BDDFTT
GFFT
JO
UIF
QFSJPE
TVDI
NJOVUFT
PS
EBUB
BSF
VTFE
6OEFS
DFSUBJO
BOOVBM
QMBOT
XIFSFCZ
B
DVTUPNFS
QSFQBZT GPS
B
QSFEFUFSNJOFE
BNPVOU
PG
NJOVUFT
BOE
EBUB
SFWFOVF
JT
SFDPHOJ[FE
DPOTJTUFOU
XJUI
UIF
DVTUPNFST
FYQFDUFE
QBUUFSO
PG
VTBHF CBTFE
PO
IJTUPSJDBM
FYQFSJFODF
CFDBVTF
XF
CFMJFWF
UIBU
UIJT
NFUIPE
NPTU
BDDVSBUFMZ
EFQJDUT
UIF
TBUJTGBDUJPO
PG
PVS
PCMJHBUJPO
UP UIF
DVTUPNFS
'PS
BOOVBM
QMBOT
XIFSF
UIF
DVTUPNFS
JT
DIBSHFE
BO
BOOVBM
GFF
UP
BDDFTT
PVS
TZTUFN
XF
SFDPHOJ[F
SFWFOVF
PO
B TUSBJHIUMJOF
CBTJT
PWFS
UIF
UFSN
PG
UIF
QMBO

4105
4FSWJDF
3FWFOVF

8F
TFMM
4105
TFSWJDFT
BT
NPOUIMZ
BOOVBM
PS
NVMUJZFBS
QMBOT
BOE
SFDPHOJ[F
SFWFOVF
PO
B
TUSBJHIUMJOF
CBTJT
PWFS
UIF
TFSWJDF UFSN
CFHJOOJOH
XIFO
UIF
TFSWJDF
JT
BDUJWBUFE
CZ
UIF
DVTUPNFS

$PNNFSDJBM
*P5
4FSWJDF
3FWFOVF

8F
TFMM
$PNNFSDJBM
*P5
TFSWJDFT
BT
NPOUIMZ
BOOVBM
PS
NVMUJZFBS
QMBOT
BOE
SFDPHOJ[F
SFWFOVF
SBUBCMZ
PWFS
UIF
TFSWJDF
UFSN PS
BT
TFSWJDF
JT
VTFE
CFHJOOJOH
XIFO
UIF
TFSWJDF
JT
BDUJWBUFE
CZ
UIF
DVTUPNFS

*(0
4FSWJDF
3FWFOVF

8F
FBSO
B
QPSUJPO
PG
PVS
SFWFOVFT
UISPVHI
UIF
TBMF
PG
BJSUJNF
NJOVUFT
PS
EBUB
PO
B
XIPMFTBMF
CBTJT
UP
*(0T
3FWFOVF
GSPN TFSWJDFT
QSPWJEFE
UP
*(0T
JT
SFDPHOJ[FE
CBTFE
VQPO
BJSUJNF
NJOVUFT
PS
EBUB
QBDLBHFT
VTFE
CZ
DVTUPNFST
PG
UIF
*(0
BOE
JO BDDPSEBODF
XJUI
DPOUSBDUVBM
GFF
BSSBOHFNFOUT

0UIFS
4FSWJDF
3FWFOVF

8F
QSPWJEF
DFSUBJO
FOHJOFFSJOH
TFSWJDFT
UP
BTTJTU
DVTUPNFST
JO
EFWFMPQJOH
OFX
BQQMJDBUJPOT
SFMBUFE
UP
PVS
TZTUFN
8F
HFOFSBMMZ SFDPHOJ[F
UIF
SFWFOVFT
BTTPDJBUFE
XJUI
UIFTF
TFSWJDFT
XIFO
UIF
TFSWJDFT
BSF
SFOEFSFE
BOE
PVS
PCMJHBUJPO
UP
UIF
DVTUPNFS
JT
TBUJTGJFE

 &RVJQNFOU
3FWFOVF

4VCTDSJCFS
FRVJQNFOU
SFWFOVF
SFQSFTFOUT
UIF
TBMF
PG
GJYFE
BOE
NPCJMF
VTFS
UFSNJOBMT
4105
BOE
$PNNFSDJBM
*P5
QSPEVDUT BOE
BDDFTTPSJFT
UP
UIFTF
QSPEVDUT
8F
SFDPHOJ[F
SFWFOVF
VQPO
TIJQNFOU
QSPWJEFE
DPOUSPM
IBT
USBOTGFSSFE
UP
UIF
DVTUPNFS
8F
TFMM FRVJQNFOU
EFTJHOFE
UP
XPSL
PO
PVS
OFUXPSL
UISPVHI
WBSJPVT
DIBOOFMT

.VMUJQMF&MFNFOU
"SSBOHFNFOU
$POUSBDUT

"U
UJNFT
XF
TFMM
TVCTDSJCFS
FRVJQNFOU
UISPVHI
NVMUJQMFFMFNFOU
BSSBOHFNFOU
DPOUSBDUT
XJUI
TFSWJDFT
8IFO
XF
TFMM
TVCTDSJCFS FRVJQNFOU
BOE
TFSWJDFT
JO
CVOEMFE
BSSBOHFNFOUT
BOE
EFUFSNJOF
UIBU
XF
IBWF
TFQBSBUF
QFSGPSNBODF
PCMJHBUJPOT
XF
BMMPDBUF
UIF CVOEMFE
DPOUSBDU
QSJDF
BNPOH
UIF
WBSJPVT
QFSGPSNBODF
PCMJHBUJPOT
CBTFE
PO
SFMBUJWF
TUBOEBMPOF
TFMMJOH
QSJDFT
BU
DPOUSBDU
JODFQUJPO PG
UIF
EJTUJODU
HPPET
PS
TFSWJDFT
VOEFSMZJOH
FBDI
QFSGPSNBODF
PCMJHBUJPO
BOE
SFDPHOJ[FT
UIFN
XIFO
PS
BT
FBDI
QFSGPSNBODF PCMJHBUJPO
JT
TBUJTGJFE

1SPQFSUZ
BOE
&RVJQNFOU

8F
DBQJUBMJ[F
DPTUT
BTTPDJBUFE
XJUI
UIF
EFTJHO
NBOVGBDUVSF
UFTU
BOE
MBVODI
PG
PVS
MPX
FBSUI
PSCJU
TBUFMMJUFT
8F
USBDL
DBQJUBMJ[FE DPTUT
BTTPDJBUFE
XJUI
PVS
TBUFMMJUFT
CZ
GJYFE
BTTFU
DBUFHPSZ
BOE
BMMPDBUF
UIFN
UP
FBDI
BTTFU
BT
JU
DPNFT
JOUP
TFSWJDF
'PS
BTTFUT
UIBU BSF
TPME
PS
SFUJSFE
JODMVEJOH
TBUFMMJUFT
UIBU
BSF
EFPSCJUFE
BOE
OP
MPOHFS
QSPWJEJOH
TFSWJDFT
XF
SFNPWF
UIF
FTUJNBUFE
DPTU
BOE BDDVNVMBUFE
EFQSFDJBUJPO
8F
SFDPHOJ[F
B
MPTT
GSPN
BO
JOPSCJU
GBJMVSF
PG
B
TBUFMMJUF
FRVBM
UP
JUT
OFU
CPPL
WBMVF
JG
BOZ
JO
UIF
QFSJPE JU
JT
EFUFSNJOFE
UIBU
UIF
TBUFMMJUF
JT
OPU
SFDPWFSBCMF

8F
EFQSFDJBUF
TBUFMMJUFT
PWFS
UIFJS
FTUJNBUFE
VTFGVM
MJWFT
CFHJOOJOH
PO
UIF
EBUF
FBDI
TBUFMMJUF
JT
QMBDFE
JOUP
TFSWJDF
8F
FWBMVBUF UIF
BQQSPQSJBUFOFTT
PG
FTUJNBUFE
EFQSFDJBCMF
MJWFT
BTTJHOFE
UP
PVS
QSPQFSUZ
BOE
FRVJQNFOU
BOE
SFWJTF
TVDI
MJWFT
UP
UIF
FYUFOU XBSSBOUFE
CZ
DIBOHJOH
GBDUT
BOE
DJSDVNTUBODFT

8F
DBQJUBMJ[F
DPTUT
BTTPDJBUFE
XJUI
UIF
EFTJHO
NBOVGBDUVSF
BOE
UFTU
PG
PVS
HSPVOE
TUBUJPOT
BOE
PUIFS
DBQJUBM
BTTFUT
8F
USBDL DBQJUBMJ[FE
DPTUT
BTTPDJBUFE
XJUI
PVS
HSPVOE
TUBUJPOT
BOE
PUIFS
DBQJUBM
BTTFUT
CZ
GJYFE
BTTFU
DBUFHPSZ
BOE
BMMPDBUF
UIFN
UP
FBDI BTTFU
BT
JU
DPNFT
JOUP
TFSWJDF

8F
SFWJFX
UIF
DBSSZJOH
WBMVF
PG
PVS
BTTFUT
GPS
JNQBJSNFOU
XIFOFWFS
FWFOUT
PS
DIBOHFT
JO
DJSDVNTUBODFT
JOEJDBUF
UIBU
UIF SFDPSEFE
WBMVF
NBZ
OPU
CF
SFDPWFSBCMF
8F
MPPL
UP
DVSSFOU
BOE
GVUVSF
VOEJTDPVOUFE
DBTI
GMPXT
FYDMVEJOH
GJOBODJOH
DPTUT
BT QSJNBSZ
JOEJDBUPST
PG
SFDPWFSBCJMJUZ
*G
XF
EFUFSNJOF
UIBU
JNQBJSNFOU
FYJTUT
XF
DBMDVMBUF
BOZ
SFMBUFE
JNQBJSNFOU
MPTT
CBTFE
PO GBJS
WBMVF

*ODPNF
5BYFT

8F
VTF
UIF
BTTFU
BOE
MJBCJMJUZ
NFUIPE
PG
BDDPVOUJOH
GPS
JODPNF
UBYFT
5IJT
NFUIPE
UBLFT
JOUP
BDDPVOU
UIF
EJGGFSFODFT
CFUXFFO GJOBODJBM
TUBUFNFOU
USFBUNFOU
BOE
UBY
USFBUNFOU
PG
DFSUBJO
USBOTBDUJPOT
8F
SFDPHOJ[F
EFGFSSFE
UBY
BTTFUT
BOE
MJBCJMJUJFT
GPS
UIF GVUVSF
UBY
DPOTFRVFODFT
BUUSJCVUBCMF
UP
EJGGFSFODFT
CFUXFFO
UIF
GJOBODJBM
TUBUFNFOU
DBSSZJOH
BNPVOUT
PG
FYJTUJOH
BTTFUT
BOE
MJBCJMJUJFT BOE
UIFJS
SFTQFDUJWF
UBY
CBTJT
8F
NFBTVSF
EFGFSSFE
UBY
BTTFUT
BOE
MJBCJMJUJFT
VTJOH
FOBDUFE
UBY
SBUFT
FYQFDUFE
UP
BQQMZ
UP
UBYBCMF JODPNF
JO
UIF
ZFBST
JO
XIJDI
UIPTF
UFNQPSBSZ
EJGGFSFODFT
BSF
FYQFDUFE
UP
CF
SFDPWFSFE
PS
TFUUMFE
0VS
EFGFSSFE
UBY
DBMDVMBUJPO SFRVJSFT
VT
UP
NBLF
DFSUBJO
FTUJNBUFT
BCPVU
PVS
GVUVSF
PQFSBUJPOT
$IBOHFT
JO
TUBUF
GFEFSBM
BOE
GPSFJHO
UBY
MBXT
BT
XFMM
BT
DIBOHFT JO
PVS
GJOBODJBM
DPOEJUJPO
PS
UIF
DBSSZJOH
WBMVF
PG
FYJTUJOH
BTTFUT
BOE
MJBCJMJUJFT
DPVME
BGGFDU
UIFTF
FTUJNBUFT
8F
SFDPHOJ[F
UIF FGGFDU
PG
B
DIBOHF
JO
UBY
SBUFT
BT
JODPNF
PS
FYQFOTF
JO
UIF
QFSJPE
UIBU
UIF
SBUF
JT
FOBDUFE
IPXFWFS
BT
XF
IBWF
B
GVMM
WBMVBUJPO BMMPXBODF
PO
PVS
EFGFSSFE
UBY
BTTFUT
UIFSF
JT
OP
JNQBDU
UP
UIF
DPOTPMJEBUFE
TUBUFNFOUT
PG
PQFSBUJPOT
BOE
CBMBODF
TIFFUT

(""1
SFRVJSFT
VT
UP
BTTFTT
XIFUIFS
JU
JT
NPSF
MJLFMZ
UIBO
OPU
UIBU
XF
XJMM
CF
BCMF
UP
SFBMJ[F
TPNF
PS
BMM
PG
PVS
EFGFSSFE
UBY BTTFUT
*G
XF
DBOOPU
EFUFSNJOF
UIBU
EFGFSSFE
UBY
BTTFUT
BSF
NPSF
MJLFMZ
UIBO
OPU
UP
CF
SFDPWFSBCMF
(""1
SFRVJSFT
VT
UP
QSPWJEF
B WBMVBUJPO
BMMPXBODF
BHBJOTU
UIPTF
BTTFUT
5IJT
BTTFTTNFOU
UBLFT
JOUP
BDDPVOU
GBDUPST
JODMVEJOH
B
UIF
OBUVSF
GSFRVFODZ
BOE TFWFSJUZ
PG
DVSSFOU
BOE
DVNVMBUJWF
GJOBODJBM
SFQPSUJOH
MPTTFT
C
TPVSDFT
PG
FTUJNBUFE
GVUVSF
UBYBCMF
JODPNF
BOE
D
UBY
QMBOOJOH TUSBUFHJFT
8F
NVTU
XFJHI
IFBWJMZ
B
QBUUFSO
PG
SFDFOU
GJOBODJBM
SFQPSUJOH
MPTTFT
BT
B
TPVSDF
PG
OFHBUJWF
FWJEFODF
XIFO
EFUFSNJOJOH PVS
BCJMJUZ
UP
SFBMJ[F
EFGFSSFE
UBY
BTTFUT
1SPKFDUJPOT
PG
FTUJNBUFE
GVUVSF
UBYBCMF
JODPNF
FYDMVTJWF
PG
SFWFSTJOH
UFNQPSBSZ
EJGGFSFODFT BSF
B
TPVSDF
PG
QPTJUJWF
FWJEFODF
POMZ
XIFO
UIF
QSPKFDUJPOT
BSF
DPNCJOFE
XJUI
B
IJTUPSZ
PG
SFDFOU
QSPGJUBCMF
PQFSBUJPOT
BOE
DBO CF
SFBTPOBCMZ
FTUJNBUFE
0UIFSXJTF
(""1
SFRVJSFT
UIBU
XF
DPOTJEFS
QSPKFDUJPOT
JOIFSFOUMZ
TVCKFDUJWF
BOE
HFOFSBMMZ
JOTVGGJDJFOU UP
PWFSDPNF
OFHBUJWF
FWJEFODF
UIBU
JODMVEFT
DVNVMBUJWF
MPTTFT
JO
SFDFOU
ZFBST
*G
OFDFTTBSZ
BOE
BWBJMBCMF
XF
XPVME
JNQMFNFOU UBY
QMBOOJOH
TUSBUFHJFT
UP
BDDFMFSBUF
UBYBCMF
BNPVOUT
UP
VUJMJ[F
FYQJSJOH
DBSSZGPSXBSET
5IFTF
TUSBUFHJFT
XPVME
CF
B
TPVSDF
PG BEEJUJPOBM
QPTJUJWF
FWJEFODF
TVQQPSUJOH
UIF
SFBMJ[BUJPO
PG
EFGFSSFE
UBY
BTTFUT

 %FSJWBUJWF
*OTUSVNFOUT

8F
SFDPHOJ[F
BMM
EFSJWBUJWF
JOTUSVNFOUT
BT
FJUIFS
BTTFUT
PS
MJBCJMJUJFT
PO
UIF
CBMBODF
TIFFU
BU
UIFJS
SFTQFDUJWF
GBJS
WBMVFT
8F SFDPSE
SFDPHOJ[FE
HBJOT
PS
MPTTFT
PO
EFSJWBUJWF
JOTUSVNFOUT
JO
UIF
DPOTPMJEBUFE
TUBUFNFOUT
PG
PQFSBUJPOT

8F
FTUJNBUF
UIF
GBJS
WBMVFT
PG
PVS
EFSJWBUJWF
GJOBODJBM
JOTUSVNFOUT
VTJOH
WBSJPVT
UFDIOJRVFT
UIBU
BSF
DPOTJEFSFE
UP
CF
DPOTJTUFOU XJUI
UIF
PCKFDUJWF
PG
NFBTVSJOH
GBJS
WBMVFT
*O
TFMFDUJOH
UIF
BQQSPQSJBUF
UFDIOJRVF
XF
DPOTJEFS
BNPOH
PUIFS
GBDUPST
UIF
OBUVSF PG
UIF
JOTUSVNFOU
UIF
NBSLFU
SJTLT
UIBU
FNCPEZ
JU
BOE
UIF
FYQFDUFE
NFBOT
PG
TFUUMFNFOU
5IFSF
BSF
WBSJPVT
GFBUVSFT
FNCFEEFE
JO PVS
EFCU
JOTUSVNFOUT
UIBU
SFRVJSF
CJGVSDBUJPO
GSPN
UIF
EFCU
IPTU
'PS
UIF
DPOWFSTJPO
PQUJPOT
BOE
UIF
DPOUJOHFOU
QVU
GFBUVSFT
JO
UIF -PBO
"HSFFNFOU
XJUI
5IFSNP
BOE
UIF


/PUFT
XF
VTF
B
.POUF
$BSMP
TJNVMBUJPO
NPEFM
UP
EFUFSNJOF
GBJS
WBMVF
'PS UIF
NBOEBUPSZ
QSFQBZNFOUT
JO
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XF
VTF
B
QSPCBCJMJUZ
XFJHIUFE
EJTDPVOUFE
DBTI
GMPX
NPEFM
UP EFUFSNJOF
GBJS
WBMVF
7BMVBUJPOT
EFSJWFE
GSPN
UIFTF
NPEFMT
BSF
TVCKFDU
UP
POHPJOH
JOUFSOBM
BOE
FYUFSOBM
WFSJGJDBUJPO
BOE
SFWJFX &TUJNBUJOH
GBJS
WBMVFT
PG
EFSJWBUJWF
GJOBODJBM
JOTUSVNFOUT
SFRVJSFT
UIF
EFWFMPQNFOU
PG
TJHOJGJDBOU
BOE
TVCKFDUJWF
FTUJNBUFT
UIBU NBZ
BOE
BSF
MJLFMZ
UP
DIBOHF
PWFS
UIF
EVSBUJPO
PG
UIF
JOTUSVNFOU
XJUI
SFMBUFE
DIBOHFT
JO
JOUFSOBM
BOE
FYUFSOBM
NBSLFU
GBDUPST 0VS
GJOBODJBM
QPTJUJPO
BOE
SFTVMUT
PG
PQFSBUJPOT
NBZ
WBSZ
NBUFSJBMMZ
GSPN
RVBSUFSUPRVBSUFS
CBTFE
PO
DPOEJUJPOT
PUIFS
UIBO
PVS PQFSBUJOH
SFWFOVFT
BOE
FYQFOTFT

*UFN
"
2VBOUJUBUJWF
BOE
2VBMJUBUJWF
%JTDMPTVSFT
"CPVU
.BSLFU
3JTL

0VS
TFSWJDFT
BOE
QSPEVDUT
BSF
TPME
EJTUSJCVUFE
PS
BWBJMBCMF
JO
PWFS

DPVOUSJFT
0VS
JOUFSOBUJPOBM
TBMFT
BSF
EFOPNJOBUFE QSJNBSJMZ
JO
$BOBEJBO
EPMMBST
#SB[JMJBO
SFBJT
BOE
FVSPT
*O
TPNF
DBTFT
JOTVGGJDJFOU
TVQQMJFT
PG
64
DVSSFODZ
NBZ
SFRVJSF
VT
UP BDDFQU
QBZNFOU
JO
PUIFS
GPSFJHO
DVSSFODJFT
8F
SFEVDF
PVS
DVSSFODZ
FYDIBOHF
SJTL
GSPN
SFWFOVFT
JO
DVSSFODJFT
PUIFS
UIBO
UIF
64 EPMMBS
CZ
SFRVJSJOH
QBZNFOU
JO
64
EPMMBST
XIFOFWFS
QPTTJCMF
BOE
QVSDIBTJOH
GPSFJHO
DVSSFODJFT
PO
UIF
TQPU
NBSLFU
XIFO
SBUFT BSF
GBWPSBCMF
8F
DVSSFOUMZ
EP
OPU
QVSDIBTF
IFEHJOH
JOTUSVNFOUT
UP
IFEHF
GPSFJHO
DVSSFODJFT
8F
BSF
PCMJHBUFE
UP
FOUFS
JOUP
DVSSFODZ IFEHFT
XJUI
UIF
MFOEFST
UP
UIF
'BDJMJUZ
"HSFFNFOU
OP
MBUFS
UIBO

EBZT
BGUFS
BOZ
GJTDBM
RVBSUFS
EVSJOH
XIJDI
NPSF
UIBO

PG SFWFOVFT
JT
EFOPNJOBUFE
JO
B
TJOHMF
DVSSFODZ
PUIFS
UIBO
64
PS
$BOBEJBO
EPMMBST
0UIFSXJTF
XF
DBOOPU
FOUFS
JOUP
IFEHJOH BHSFFNFOUT
PUIFS
UIBO
JOUFSFTU
SBUF
DBQ
BHSFFNFOUT
PS
PUIFS
IFEHFT
EFTDSJCFE
BCPWF
XJUIPVU
UIF
DPOTFOU
PG
UIF
BHFOU
GPS
UIF
'BDJMJUZ "HSFFNFOU
BOE
XJUI
UIBU
DPOTFOU
UIF
DPVOUFSQBSUJFT
NBZ
POMZ
CF
UIF
MFOEFST
UP
UIF
'BDJMJUZ
"HSFFNFOU

8F
BMTP
IBWF
PQFSBUJPOT
JO
7FOF[VFMB
BOE
"SHFOUJOB
CPUI
DPVOUJFT
BSF
DPOTJEFSFE
UP
IBWF
IJHIMZ
JOGMBUJPOBSZ
FDPOPNJFT
8F DPOUJOVF
UP
NPOJUPS
UIF
TJHOJGJDBOU
VODFSUBJOUZ
TVSSPVOEJOH
DVSSFOU
7FOF[VFMBO
BOE
"SHFOUJOJBO
FYDIBOHF
NFDIBOJTNT
0QFSBUJPOT JO
UIFTF
DPVOUSJFT
BSF
OPU
DPOTJEFSFE
TJHOJGJDBOU
UP
PVS
DPOTPMJEBUFE
PQFSBUJPOT

0VS
JOUFSFTU
SBUF
SJTL
BSJTFT
GSPN
PVS
WBSJBCMF
SBUF
EFCU
VOEFS
PVS
'BDJMJUZ
"HSFFNFOU
VOEFS
XIJDI
MPBOT
CFBS
JOUFSFTU
BU
B GMPBUJOH
SBUF
CBTFE
PO
UIF
-*#03
8F
IBWF

NJMMJPO
JO
QSJODJQBM
PVUTUBOEJOH
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
"

DIBOHF JO
JOUFSFTU
SBUFT
XPVME
SFTVMU
JO
B
DIBOHF
UP
JOUFSFTU
FYQFOTF
PG
BQQSPYJNBUFMZ

NJMMJPO
BOOVBMMZ

4FF
/PUF

'BJS
7BMVF
.FBTVSFNFOUT
JO
PVS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
GPS
EJTDVTTJPO
PG
PVS
GJOBODJBM
BTTFUT
BOE MJBCJMJUJFT
NFBTVSFE
BU
GBJS
NBSLFU
WBMVF
BOE
UIF
NBSLFU
GBDUPST
BGGFDUJOH
DIBOHFT
JO
GBJS
NBSLFU
WBMVF
PG
FBDI

 *UFN

'JOBODJBM
4UBUFNFOUT
BOE
4VQQMFNFOUBSZ
%BUB

*/%&9
50
$0/40-*%"5&%
'*/"/$*"-
45"5&.&/54

1BHF "VEJUFE
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
PG
(MPCBMTUBS
*OD  3FQPSU
PG
$SPXF
--1
JOEFQFOEFOU
SFHJTUFSFE
QVCMJD
BDDPVOUJOH
GJSN  $POTPMJEBUFE
CBMBODF
TIFFUT
BU
%FDFNCFS


BOE
  $POTPMJEBUFE
TUBUFNFOUT
PG
PQFSBUJPOT
GPS
UIF
ZFBST
FOEFE
%FDFNCFS



BOE
  $POTPMJEBUFE
TUBUFNFOUT
PG
DPNQSFIFOTJWF
JODPNF
MPTT
GPS
UIF
ZFBST
FOEFE
%FDFNCFS



BOE
  $POTPMJEBUFE
TUBUFNFOUT
PG
TUPDLIPMEFSTg
FRVJUZ
GPS
UIF
ZFBST
FOEFE
%FDFNCFS



BOE
  $POTPMJEBUFE
TUBUFNFOUT
PG
DBTI
GMPXT
GPS
UIF
ZFBST
FOEFE
%FDFNCFS



BOE
  /PUFT
UP
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT 

 [This page intentionally left blank] Report of Independent Registered Public Accounting Firm To the Stockholders and the Board of Directors of Globalstar, Inc. Covington, Louisiana

Opinions on the Financial Statements and Internal Control Over Financial Reporting We have audited the accompanying consolidated balance sheets of Globalstar, Inc. (the ‘‘Company’’) as of December 31, 2019 and 2018, the related consolidated statements of operations, comprehensive income (loss), stockholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 2019, and the related notes (collectively referred to as the ‘‘financial statements’’). We also have audited the Company’s internal control over financial reporting as of December 31, 2019, based on criteria established in Internal Control - Integrated Framework: (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2019 and 2018, and the results of its operations and its cash flows for each of the years in the threeyear period ended December 31, 2019 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2019, based on criteria established in Internal Control - Integrated Framework: (2013) issued by COSO.

Basis for Opinions The Company’s management is responsible for these financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Item 9A - Management’s Annual Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Company’s financial statements and an opinion on the Company’s internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (‘‘PCAOB’’) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects. Our audits of the financial statements included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, and as well as evaluating the overall presentation of the financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

Definition and Limitations of Internal Control Over Financial Reporting A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. /s/ Crowe LLP We have served as the Company’s auditor since 2006. Oak Brook, Illinois February 28, 2020

 (-0#"-45"3
*/$ $0/40-*%"5&%
#"-"/$&
4)&&54 *O
UIPVTBOET
FYDFQU
QBS
WBMVF
BOE
TIBSF
EBUB

%FDFNCFS
   "44&54 $VSSFOU
BTTFUT $BTI
BOE
DBTI
FRVJWBMFOUT       3FTUSJDUFE
DBTI    "DDPVOUT
SFDFJWBCMF
OFU
PG
BMMPXBODF
PG
 
BOE
 
SFTQFDUJWFMZ     *OWFOUPSZ     1SFQBJE
FYQFOTFT
BOE
PUIFS
DVSSFOU
BTTFUT     5PUBM
DVSSFOU
BTTFUT     1SPQFSUZ
BOE
FRVJQNFOU
OFU     3FTUSJDUFE
$BTI   k 0QFSBUJOH
MFBTF
SJHIU
PG
VTF
BTTFUT
OFU   k *OUBOHJCMF
BOE
PUIFS
BTTFUT
OFU
PG
BDDVNVMBUFE
BNPSUJ[BUJPO
PG
 
BOE
 
SFTQFDUJWFMZ     5PUBM
BTTFUT        -*"#*-*5*&4
"/%
450$,)0-%&34`
&26*5: $VSSFOU
MJBCJMJUJFT $VSSFOU
QPSUJPO
PG
MPOHUFSN
EFCU  k    "DDPVOUT
QBZBCMF     "DDSVFE
FYQFOTFT     1BZBCMFT
UP
BGGJMJBUFT   %FSJWBUJWF
MJBCJMJUJFT k  %FGFSSFE
SFWFOVF     5PUBM
DVSSFOU
MJBCJMJUJFT     -POHUFSN
EFCU
MFTT
DVSSFOU
QPSUJPO     -FBTF
-JBCJMJUJFT   k &NQMPZFF
CFOFGJU
PCMJHBUJPOT     %FSJWBUJWF
MJBCJMJUJFT     %FGFSSFE
SFWFOVF     0UIFS
OPODVSSFOU
MJBCJMJUJFT     5PUBM
OPODVSSFOU
MJBCJMJUJFT     $PNNJUNFOUT
BOE
DPOUJOHFOU
MJBCJMJUJFT
/PUFT

BOE
 4UPDLIPMEFSTg
FRVJUZ 1SFGFSSFE
4UPDL
PG

QBS
WBMVF
  
TIBSFT
BVUIPSJ[FE
BOE
OPOF
JTTVFE
BOE kk PVUTUBOEJOH
BU
%FDFNCFS


BOE

SFTQFDUJWFMZ 4FSJFT
"
1SFGFSSFE
$POWFSUJCMF
4UPDL
PG

QBS
WBMVF
POF
TIBSF
BVUIPSJ[FE
BOE
OPOF
JTTVFE kk BOE
PVUTUBOEJOH
BU
%FDFNCFS


BOE

SFTQFDUJWFMZ 7PUJOH
$PNNPO
4UPDL
PG

QBS
WBMVF
   
TIBSFT
BVUIPSJ[FE
BOE
      TIBSFT
JTTVFE
BOE
PVUTUBOEJOH
BU
%FDFNCFS


   
TIBSFT
BVUIPSJ[FE
BOE    
TIBSFT
JTTVFE
BOE
PVUTUBOEJOH
BU
%FDFNCFS

 /POWPUJOH
$PNNPO
4UPDL
PG

QBS
WBMVF
OP
TIBSFT
BVUIPSJ[FE
BOE
OPOF
JTTVFE
BOE kk PVUTUBOEJOH
BU
%FDFNCFS


  
TIBSFT
BVUIPSJ[FE
BOE
OPOF
JTTVFE
BOE
PVUTUBOEJOH BU
%FDFNCFS

 "EEJUJPOBM
QBJEJO
DBQJUBM       "DDVNVMBUFE
PUIFS
DPNQSFIFOTJWF
MPTT     3FUBJOFE
EFGJDJU       5PUBM
TUPDLIPMEFSTg
FRVJUZ     5PUBM
MJBCJMJUJFT
BOE
TUPDLIPMEFSTg
FRVJUZ        4FF
BDDPNQBOZJOH
OPUFT
UP
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT

 (-0#"-45"3
*/$ $0/40-*%"5&%
45"5&.&/54
0'
01&3"5*0/4 *O
UIPVTBOET
FYDFQU
QFS
TIBSF
EBUB

:FBS
&OEFE
%FDFNCFS
    3FWFOVF 4FSWJDF
SFWFOVF          4VCTDSJCFS
FRVJQNFOU
TBMFT       5PUBM
SFWFOVF       0QFSBUJOH
FYQFOTFT $PTU
PG
TFSWJDFT
FYDMVTJWF
PG
EFQSFDJBUJPO
BNPSUJ[BUJPO
BOE
BDDSFUJPO
TIPXO TFQBSBUFMZ
CFMPX       $PTU
PG
TVCTDSJCFS
FRVJQNFOU
TBMFT       $PTU
PG
TVCTDSJCFS
FRVJQNFOU
TBMFT

SFEVDUJPO
JO
UIF
WBMVF
PG
JOWFOUPSZ  k  .BSLFUJOH
HFOFSBM
BOE
BENJOJTUSBUJWF       3FEVDUJPO
JO
UIF
WBMVF
PG
MPOHMJWFE
BTTFUT   k   3FWJTJPO
UP
DPOUSBDU
UFSNJOBUJPO
DIBSHF k   k %FQSFDJBUJPO
BNPSUJ[BUJPO
BOE
BDDSFUJPO       5PUBM
PQFSBUJOH
FYQFOTFT       -PTT
GSPN
PQFSBUJPOT       0UIFS
JODPNF
FYQFOTF  -PTT
PO
FYUJOHVJTINFOU
PG
EFCU k k   (BJO
PO
FRVJUZ
JTTVBODF k k   *OUFSFTU
JODPNF
BOE
FYQFOTF
OFU
PG
BNPVOUT
DBQJUBMJ[FE       %FSJWBUJWF
HBJO       (BJO
PO
MFHBM
TFUUMFNFOU    k 0UIFS       5PUBM
PUIFS
JODPNF
FYQFOTF       *ODPNF
MPTT
CFGPSF
JODPNF
UBYFT       *ODPNF
UBY
FYQFOTF    /FU
JODPNF
MPTT          /FU
JODPNF
MPTT
QFS
DPNNPO
TIBSF #BTJD       %JMVUFE    8FJHIUFEBWFSBHF
TIBSFT
PVUTUBOEJOH #BTJD          %JMVUFE         
4FF
BDDPNQBOZJOH
OPUFT
UP
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT

 (-0#"-45"3
*/$ $0/40-*%"5&%
45"5&.&/54
0'
$0.13&)&/4*7&
*/$0.&
-044 *O
UIPVTBOET

:FBS
&OEFE
%FDFNCFS
    /FU
JODPNF
MPTT          0UIFS
DPNQSFIFOTJWF
JODPNF
MPTT  %FGJOFE
CFOFGJU
QFOTJPO
QMBO
MJBCJMJUZ
BEKVTUNFOU     /FU
GPSFJHO
DVSSFODZ
USBOTMBUJPO
BEKVTUNFOU      5PUBM
PUIFS
DPNQSFIFOTJWF
JODPNF
MPTT      5PUBM
DPNQSFIFOTJWF
JODPNF
MPTT         

4FF
BDDPNQBOZJOH
OPUFT
UP
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT

 (-0#"-45"3
*/$ $0/40-*%"5&%
45"5&.&/54
0'
450$,)0-%&34`
&26*5: *O
UIPVTBOET

"DDVNVMBUFE $PNNPO "EEJUJPOBM 0UIFS $PNNPO 4UPDL 1BJE*O $PNQSFIFOTJWF 3FUBJOFE 4IBSFT "NPVOU $BQJUBM *ODPNF
-PTT %FGJDJU 5PUBM #BMBODFT
i
%FDFNCFS

                   *TTVBODFT
GPSGFJUVSFT
PG
SFTUSJDUFE
TUPDL
BXBSET TUPDL
GPS
FNQMPZFF
TUPDL
PQUJPO
FYFSDJTFT
BOE SFDPHOJUJPO
PG
TUPDLCBTFE
DPNQFOTBUJPO      k k   $POUSJCVUJPO
PG
TFSWJDFT k k  k k  *TTVBODF
BOE
SFDPHOJUJPO
PG
TUPDLCBTFE DPNQFOTBUJPO
PG
FNQMPZFF
TUPDL
QVSDIBTF
QMBO  k   k k   *TTVBODF
PG
TUPDL
UP
5FSSBQJO      k k   *TTVBODF
PG
TUPDL
UP
5IFSNP
GSPN
FYFSDJTF
PG XBSSBOUT     k k  *TTVBODF
PG
TUPDL
UP
5IFSNP
GPS
FRVJUZ
GJOBODJOH      k k   $PNNPO
TUPDL
JTTVFE
JO
DPOOFDUJPO
XJUI DPOWFSTJPOT
PG


/PUFT      k k   *TTVBODF
PG
TUPDL
GPS
MFHBM
TFUUMFNFOU  k  k k  *TTVBODF
PG
TUPDL
GPS
QVCMJD
PGGFSJOH      k k   4UPDL
PGGFSJOH
JTTVBODF
DPTUT k k  k k  *OWFTUNFOU
JO
CVTJOFTT k k  k k  0UIFS
DPNQSFIFOTJWF
MPTT k k k   k   /FU
MPTT k k k k     #BMBODFT
i
%FDFNCFS

                   *TTVBODFT
GPSGFJUVSFT
PG
SFTUSJDUFE
TUPDL
BXBSET TUPDL
GPS
FNQMPZFF
TUPDL
PQUJPO
FYFSDJTFT
BOE SFDPHOJUJPO
PG
TUPDLCBTFE
DPNQFOTBUJPO      k k   $POUSJCVUJPO
PG
TFSWJDFT k k  k k  *TTVBODF
BOE
SFDPHOJUJPO
PG
TUPDLCBTFE DPNQFOTBUJPO
PG
FNQMPZFF
TUPDL
QVSDIBTF
QMBO   k   k k   *TTVBODF
PG
TUPDL
GPS
QVCMJD
PGGFSJOH      k k   4UPDL
PGGFSJOH
JTTVBODF
DPTUT k k  k k  0UIFS
DPNQSFIFOTJWF
JODPNF k k k   k   *NQBDU
PG
BEPQUJPO
PG
"4$
 k k k k     /FU
MPTT k k k k     #BMBODFT
i
%FDFNCFS

                   *TTVBODFT
GPSGFJUVSFT
PG
SFTUSJDUFE
TUPDL
BXBSET TUPDL
GPS
FNQMPZFF
TUPDL
PQUJPO
FYFSDJTFT
BOE SFDPHOJUJPO
PG
TUPDLCBTFE
DPNQFOTBUJPO   k   k k   $POUSJCVUJPO
PG
TFSWJDFT k k  k k  *TTVBODF
BOE
SFDPHOJUJPO
PG
TUPDLCBTFE DPNQFOTBUJPO
PG
FNQMPZFF
TUPDL
QVSDIBTF
QMBO   k   k k   4UPDL
PGGFSJOH
JTTVBODF
DPTUT k k  k k  *OWFTUNFOU
JO
CVTJOFTT k k  k k  'BJS
WBMVF
PG
XBSSBOUT
JTTVFE
JO
DPOOFDUJPO
XJUI 4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ k k   k k   *TTVBODF
PG
TUPDL
GPS
XBSSBOU
FYFSDJTFT      k k   0UIFS
DPNQSFIFOTJWF
JODPNF k k k  k  /FU
JODPNF k k k k     #BMBODFT
i
%FDFNCFS

                   4FF
BDDPNQBOZJOH
OPUFT
UP
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT

 (-0#"-45"3
*/$ $0/40-*%"5&%
45"5&.&/54
0'
$"4)
'-084 *O
UIPVTBOET

:FBS
&OEFE
%FDFNCFS
    $BTI
GMPXT
QSPWJEFE
CZ
VTFE
JO
PQFSBUJOH
BDUJWJUJFT /FU
JODPNF
MPTT          "EKVTUNFOUT
UP
SFDPODJMF
OFU
JODPNF
MPTT
UP
OFU
DBTI
QSPWJEFE
CZ
VTFE
JO PQFSBUJOH
BDUJWJUJFT %FQSFDJBUJPO
BNPSUJ[BUJPO
BOE
BDDSFUJPO       $IBOHF
JO
GBJS
WBMVF
PG
EFSJWBUJWF
BTTFUT
BOE
MJBCJMJUJFT       4UPDLCBTFE
DPNQFOTBUJPO
FYQFOTF       "NPSUJ[BUJPO
PG
EFGFSSFE
GJOBODJOH
DPTUT       3FEVDUJPO
JO
UIF
WBMVF
PG
MPOHMJWFE
BTTFUT
BOE
JOWFOUPSZ   k   1SPWJTJPO
GPS
CBE
EFCUT       /PODBTI
JOUFSFTU
BOE
BDDSFUJPO
FYQFOTF       -PTT
PO
FYUJOHVJTINFOU
PG
EFCU k k   $IBOHF
JO
GBJS
WBMVF
SFMBUFE
UP
FRVJUZ
JTTVBODF k k   3FWJTJPO
UP
DPOUSBDU
UFSNJOBUJPO
DIBSHF k   k $IBOHF
UP
FTUJNBUFE
JNQBDU
VQPO
BEPQUJPO
PG
"4$
   k k 6OSFBMJ[FE
GPSFJHO
DVSSFODZ
HBJO
MPTT      0UIFS
OFU    $IBOHFT
JO
PQFSBUJOH
BTTFUT
BOE
MJBCJMJUJFT "DDPVOUT
SFDFJWBCMF       *OWFOUPSZ     1SFQBJE
FYQFOTFT
BOE
PUIFS
DVSSFOU
BTTFUT      0UIFS
BTTFUT     "DDPVOUT
QBZBCMF
BOE
BDDSVFE
FYQFOTFT      1BZBCMFT
UP
BGGJMJBUFT    0UIFS
OPODVSSFOU
MJBCJMJUJFT     %FGFSSFE
SFWFOVF     /FU
DBTI
QSPWJEFE
CZ
PQFSBUJOH
BDUJWJUJFT       $BTI
GMPXT
VTFE
JO
JOWFTUJOH
BDUJWJUJFT 4FDPOEHFOFSBUJPO
OFUXPSL
DPTUT
JODMVEJOH
JOUFSFTU       1SPQFSUZ
BOE
FRVJQNFOU
BEEJUJPOT       1VSDIBTF
PG
JOUBOHJCMF
BTTFUT       /FU
DBTI
VTFE
JO
JOWFTUJOH
BDUJWJUJFT       $BTI
GMPXT
QSPWJEFE
CZ
VTFE
JO
GJOBODJOH
BDUJWJUJFT 1SJODJQBM
QBZNFOUT
PG
UIF
'BDJMJUZ
"HSFFNFOU       /FU
QSPDFFET
GSPN
DPNNPO
TUPDL
PGGFSJOH
BOE
FYFSDJTF
PG
XBSSBOUT       1SPDFFET
GSPN
5IFSNP
$PNNPO
4UPDL
1VSDIBTF
"HSFFNFOU k k   1BZNFOU
PG
EFCU
SFTUSVDUVSJOH
GFF k k   1BZNFOU
PG
GJOBODJOH
DPTUT     1SPDFFET
GSPN
4VCPSEJOBUFE
-PBO
"HSFFNFOU   k k 1BZPGG
PG
4VCPSEJOBUFE
-PBO
"HSFFNFOU   k k 1SPDFFET
GSPN
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ   k k 1SPDFFET
GSPN
JTTVBODF
PG
TUPDL
UP
5FSSBQJO k k   1SPDFFET
GSPN
JTTVBODF
PG
DPNNPO
TUPDL
BOE
FYFSDJTF
PG
PQUJPOT
BOE
XBSSBOUT k    /FU
DBTI
QSPWJEFE
CZ
VTFE
JO
GJOBODJOH
BDUJWJUJFT       &GGFDU
PG
FYDIBOHF
SBUF
DIBOHFT
PO
DBTI
DBTI
FRVJWBMFOUT
BOE
SFTUSJDUFE
DBTI    /FU
JODSFBTF
EFDSFBTF
JO
DBTI
DBTI
FRVJWBMFOUT
BOE
SFTUSJDUFE
DBTI       $BTI
DBTI
FRVJWBMFOUT
BOE
SFTUSJDUFE
DBTI
CFHJOOJOH
PG
QFSJPE       $BTI
DBTI
FRVJWBMFOUT
BOE
SFTUSJDUFE
DBTI
FOE
PG
QFSJPE         

 "T
PG
%FDFNCFS
    3FDPODJMJBUJPO
PG
DBTI
DBTI
FRVJWBMFOUT
BOE
SFTUSJDUFE
DBTI $BTI
BOE
DBTI
FRVJWBMFOUT          3FTUSJDUFE
DBTI
4FF
/PUF

GPS
GVSUIFS
EJTDVTTJPO
PO
SFTUSJDUJPOT       5PUBM
DBTI
DBTI
FRVJWBMFOUT
BOE
SFTUSJDUFE
DBTI
TIPXO
JO
UIF
TUBUFNFOU
PG
DBTI GMPXT         

4VQQMFNFOUBM
EJTDMPTVSF
PG
DBTI
GMPX
JOGPSNBUJPO $BTI
QBJE
GPS *OUFSFTU          *ODPNF
UBYFT   

:FBS
&OEFE
%FDFNCFS
    4VQQMFNFOUBM
EJTDMPTVSF
PG
OPODBTI
GJOBODJOH
BOE
JOWFTUJOH
BDUJWJUJFT *ODSFBTF
JO
DBQJUBMJ[FE
BDDSVFE
JOUFSFTU
GPS
TFDPOEHFOFSBUJPO
OFUXPSL
DPTUT         'BJS
WBMVF
PG
XBSSBOUT
JTTVFE
XJUI
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ   k k $BQJUBMJ[FE
BDDSFUJPO
PG
EFCU
EJTDPVOU
BOE
BNPSUJ[BUJPO
PG
QSFQBJE
GJOBODJOH DPTUT      *TTVBODF
PG
DPNNPO
TUPDL
GPS
MFHBM
TFUUMFNFOU k k  1SJODJQBM
BNPVOU
PG
EFCU
DPOWFSUFE
JOUP
DPNNPO
TUPDL k k   3FEVDUJPO
PG
EFCU
EJTDPVOU
BOE
JTTVBODF
DPTUT
EVF
UP
OPUF
DPOWFSTJPOT k k   'BJS
WBMVF
PG
DPNNPO
TUPDL
JTTVFE
VQPO
DPOWFSTJPO
PG
EFCU k k   3FEVDUJPO
JO
EFSJWBUJWF
MJBCJMJUZ
EVF
UP
DPOWFSTJPO
PG
EFCU k k  
4FF
BDDPNQBOZJOH
OPUFT
UP
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT

 (-0#"-45"3
*/$
/05&4
50
$0/40-*%"5&%
'*/"/$*"-
45"5&.&/54

46.."3:
0'
4*(/*'*$"/5
"$$06/5*/(
10-*$*&4

#VTJOFTT
(MPCBMTUBS
*OD
a(MPCBMTUBSb
PS
UIF
a$PNQBOZb
XBT
GPSNFE
BT
B
%FMBXBSF
MJNJUFE
MJBCJMJUZ
DPNQBOZ
JO
/PWFNCFS

BOE XBT
DPOWFSUFE
JOUP
B
%FMBXBSF
DPSQPSBUJPO
PO
.BSDI


(MPCBMTUBS
QSPWJEFT
.PCJMF
4BUFMMJUF
4FSWJDFT
a.44b
JODMVEJOH WPJDF
BOE
EBUB
DPNNVOJDBUJPOT
TFSWJDFT
UISPVHI
JUT
HMPCBM
TBUFMMJUF
OFUXPSL
5IFSNP
$PNQBOJFT
UISPVHI
DPNNPOMZ
DPOUSPMMFE BGGJMJBUFT
DPMMFDUJWFMZ
a5IFSNPb
JT
UIF
QSJODJQBM
PXOFS
BOE
MBSHFTU
TUPDLIPMEFS
PG
(MPCBMTUBS
5IF
$PNQBOZT
&YFDVUJWF $IBJSNBO
PG
UIF
#PBSE
DPOUSPMT
5IFSNP
5XP
PUIFS
NFNCFST
PG
UIF
$PNQBOZT
#PBSE
PG
%JSFDUPST
BSF
BMTP
EJSFDUPST
PGGJDFST
PS NJOPSJUZ
FRVJUZ
PXOFST
PG
WBSJPVT
5IFSNP
FOUJUJFT
5IF
$PNQBOZgT
TBUFMMJUF
DPNNVOJDBUJPOT
CVTJOFTT
CZ
QSPWJEJOH
DSJUJDBM
NPCJMF
DPNNVOJDBUJPOT
UP
TVCTDSJCFST
TFSWFT QSJODJQBMMZ
UIF
GPMMPXJOH
NBSLFUT
SFDSFBUJPO
BOE
QFSTPOBM
HPWFSONFOU
QVCMJD
TBGFUZ
BOE
EJTBTUFS
SFMJFG
PJM
BOE
HBT
NBSJUJNF BOE
GJTIJOH
OBUVSBM
SFTPVSDFT
NJOJOH
BOE
GPSFTUSZ
DPOTUSVDUJPO
VUJMJUJFT
BOE
USBOTQPSUBUJPO
(MPCBMTUBS
DVSSFOUMZ
QSPWJEFT
UIF
GPMMPXJOH
DPNNVOJDBUJPOT
TFSWJDFT
WJB
TBUFMMJUF
XIJDI
BSF
BWBJMBCMF
POMZ
XJUI
FRVJQNFOU EFTJHOFE
UP
XPSL
PO
UIF
(MPCBMTUBS
OFUXPSL

d UXPXBZ
WPJDF
DPNNVOJDBUJPO
BOE
EBUB
USBOTNJTTJPOT
VTJOH
NPCJMF
PS
GJYFE
EFWJDFT
JODMVEJOH
UIF
(41
QIPOF UXP
HFOFSBUJPOT
PG
PVS
4BU'J
e
UIF
4BU'J
e
3FNPUF
"OUFOOB
4UBUJPO
BOE
PUIFS
GJYFE
BOE
EBUBPOMZ
EFWJDFT
%VQMFY  d POFXBZ
PS
UXPXBZ
DPNNVOJDBUJPO
BOE
EBUB
USBOTNJTTJPOT
VTJOH
NPCJMF
EFWJDFT
JODMVEJOH
UIF
4105
GBNJMZ
PG
QSPEVDUT TVDI
BT
4105
9
e
4105
(FOe
BOE
4105
5SBDFe
UIBU
USBOTNJU
NFTTBHFT
BOE
UIF
MPDBUJPO
PG
UIF
EFWJDF
4105 
BOE d POFXBZ
EBUB
USBOTNJTTJPOT
VTJOH
B
NPCJMF
PS
GJYFE
EFWJDF
UIBU
USBOTNJUT
JUT
MPDBUJPO
BOE
PUIFS
JOGPSNBUJPO
UP
B
DFOUSBM NPOJUPSJOH
TUBUJPO
JODMVEJOH
DPNNFSDJBM
*P5
QSPEVDUT
TVDI
BT
UIF
CBUUFSZ
BOE
TPMBSQPXFSFE
4NBSU0OF
459
BOE 45*/(3
$PNNFSDJBM
*P5 

(MPCBMTUBS
QSPWJEFT
%VQMFY
4105
BOE
$PNNFSDJBM
*P5
QSPEVDUT
BOE
TFSWJDFT
UP
DVTUPNFST
EJSFDUMZ
BOE
UISPVHI
B
WBSJFUZ
PG JOEFQFOEFOU
BHFOUT
EFBMFST
BOE
SFTFMMFST
BOE
JOEFQFOEFOU
HBUFXBZ
PQFSBUPST
a*(0Tb 
6TF
PG
&TUJNBUFT
JO
1SFQBSBUJPO
PG
'JOBODJBM
4UBUFNFOUT
5IF
QSFQBSBUJPO
PG
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
JO
DPOGPSNJUZ
XJUI
BDDPVOUJOH
QSJODJQMFT
HFOFSBMMZ
BDDFQUFE
JO
UIF 6OJUFE
4UBUFT
PG
"NFSJDB
64
(""1
SFRVJSFT
NBOBHFNFOU
UP
NBLF
FTUJNBUFT
BOE
BTTVNQUJPOT
UIBU
BGGFDU
UIF
SFQPSUFE
BNPVOUT PG
BTTFUT
BOE
MJBCJMJUJFT
BOE
EJTDMPTVSF
PG
DPOUJOHFOU
BTTFUT
BOE
MJBCJMJUJFT
BU
UIF
EBUF
PG
UIF
GJOBODJBM
TUBUFNFOUT
BOE
UIF
SFQPSUFE BNPVOUT
PG
SFWFOVFT
BOE
FYQFOTFT
EVSJOH
UIF
SFQPSUJOH
QFSJPE
"DUVBM
SFTVMUT
DPVME
EJGGFS
GSPN
FTUJNBUFT
$FSUBJO
SFDMBTTJGJDBUJPOT IBWF
CFFO
NBEF
UP
QSJPS
ZFBS
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
UP
DPOGPSN
UP
DVSSFOU
ZFBS
QSFTFOUBUJPO
5IF
$PNQBOZ
FWBMVBUFT FTUJNBUFT
PO
BO
POHPJOH
CBTJT
4JHOJGJDBOU
FTUJNBUFT
JODMVEF
UIF
WBMVF
PG
EFSJWBUJWF
JOTUSVNFOUT
UIF
BMMPXBODF
GPS
EPVCUGVM
BDDPVOUT UIF
OFU
SFBMJ[BCMF
WBMVF
PG
JOWFOUPSZ
UIF
VTFGVM
MJGF
BOE
WBMVF
PG
QSPQFSUZ
BOE
FRVJQNFOU
UIF
WBMVF
PG
TUPDLCBTFE
DPNQFOTBUJPO BOE
JODPNF
UBYFT
1SJODJQMFT
PG
$POTPMJEBUJPO
5IF
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
JODMVEF
UIF
BDDPVOUT
PG
(MPCBMTUBS
BOE
BMM
JUT
TVCTJEJBSJFT
"MM
TJHOJGJDBOU
JOUFSDPNQBOZ USBOTBDUJPOT
BOE
CBMBODFT
IBWF
CFFO
FMJNJOBUFE
JO
UIF
DPOTPMJEBUJPO
$BTI
BOE
$BTI
&RVJWBMFOUT
$BTI
BOE
DBTI
FRVJWBMFOUT
DPOTJTU
PG
DBTI
PO
IBOE
BOE
IJHIMZ
MJRVJE
JOWFTUNFOUT
XJUI
PSJHJOBM
NBUVSJUJFT
PG
UISFF
NPOUIT
PS MFTT

 3FTUSJDUFE
$BTI
3FTUSJDUFE
DBTI
JT
DPNQSJTFE
PG
GVOET
IFME
JO
FTDSPX
CZ
UIF
BHFOU
GPS
UIF
$PNQBOZgT
TFOJPS
TFDVSFE
GBDJMJUZ
BHSFFNFOU
UIF a'BDJMJUZ
"HSFFNFOUb
UP
TFDVSF
UIF
$PNQBOZgT
QSJODJQBM
BOE
JOUFSFTU
QBZNFOU
PCMJHBUJPOT
SFMBUFE
UP
JUT
'BDJMJUZ
"HSFFNFOU 3FTUSJDUFE
DBTI
JT
DMBTTJGJFE
BT
FJUIFS
B
DVSSFOU
PS
OPODVSSFOU
BTTFU
PO
UIF
$PNQBOZT
$POTPMJEBUFE
#BMBODF
4IFFU
CBTFE
PO
XIFO UIFTF
GVOET
BSF
FYQFDUFE
UP
CF
VTFE
UP
QBZ
QSJODJQBM
BOE
JOUFSFTU
EVF
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU

$PODFOUSBUJPO
PG
$SFEJU
3JTL
'JOBODJBM
JOTUSVNFOUT
UIBU
QPUFOUJBMMZ
TVCKFDU
UIF
$PNQBOZ
UP
TJHOJGJDBOU
DPODFOUSBUJPOT
PG
DSFEJU
SJTL
DPOTJTU
QSJODJQBMMZ
PG DBTI
BOE
DBTI
FRVJWBMFOUT
BOE
SFTUSJDUFE
DBTI
$BTI
BOE
DBTI
FRVJWBMFOUT
BOE
SFTUSJDUFE
DBTI
DPOTJTU
QSJNBSJMZ
PG
IJHIMZ
MJRVJE TIPSUUFSN
JOWFTUNFOUT
EFQPTJUFE
XJUI
GJOBODJBM
JOTUJUVUJPOT
UIBU
BSF
PG
IJHI
DSFEJU
RVBMJUZ

"DDPVOUT
BOE
/PUFT
3FDFJWBCMF
3FDFJWBCMFT
BSF
SFDPSEFE
XIFO
UIF
SJHIU
UP
DPOTJEFSBUJPO
GSPN
UIF
DVTUPNFS
CFDPNFT
VODPOEJUJPOBM
XIJDI
JT
HFOFSBMMZ
VQPO CJMMJOH
PS
VQPO
TBUJTGBDUJPO
PG
B
QFSGPSNBODF
PCMJHBUJPO
XIJDIFWFS
JT
FBSMJFS
"DDPVOUT
SFDFJWBCMF
BSF
VODPMMBUFSBMJ[FE
XJUIPVU JOUFSFTU
BOE
DPOTJTU
QSJNBSJMZ
PG
SFDFJWBCMFT
GSPN
UIF
TBMF
PG
(MPCBMTUBS
TFSWJDFT
BOE
FRVJQNFOU
'PS
TFSWJDF
DVTUPNFST
QBZNFOU JT
HFOFSBMMZ
EVF
XJUIJO
UIJSUZ
EBZT
PG
UIF
JOWPJDF
EBUF
BOE
GPS
FRVJQNFOU
DVTUPNFST
QBZNFOU
JT
HFOFSBMMZ
EVF
XJUIJO
UIJSUZ
UP
TJYUZ EBZT
PG
UIF
JOWPJDF
EBUF
PS
GPS
TPNF
DVTUPNFST
NBZ
CF
NBEF
JO
BEWBODF
PG
TIJQNFOU

5IF
$PNQBOZ
QFSGPSNT
POHPJOH
DSFEJU
FWBMVBUJPOT
PG
JUT
DVTUPNFST
BOE
JNQBJST
SFDFJWBCMF
CBMBODFT
CZ
SFDPSEJOH
TQFDJGJD BMMPXBODFT
GPS
CBE
EFCUT
CBTFE
PO
GBDUPST
TVDI
BT
DVSSFOU
USFOET
UIF
MFOHUI
PG
UJNF
UIF
SFDFJWBCMFT
BSF
QBTU
EVF
BOE
IJTUPSJDBM DPMMFDUJPO
FYQFSJFODF
"DDPVOUT
SFDFJWBCMF
BSF
DPOTJEFSFE
QBTU
EVF
JO
BDDPSEBODF
XJUI
UIF
DPOUSBDUVBM
UFSNT
PG
UIF
BSSBOHFNFOUT "DDPVOUT
SFDFJWBCMF
CBMBODFT
UIBU
BSF
EFUFSNJOFE
MJLFMZ
UP
CF
VODPMMFDUJCMF
BSF
JODMVEFE
JO
UIF
BMMPXBODF
GPS
EPVCUGVM
BDDPVOUT "GUFS
BUUFNQUT
UP
DPMMFDU
B
SFDFJWBCMF
IBWF
GBJMFE
UIF
SFDFJWBCMF
JT
XSJUUFO
PGG
BHBJOTU
UIF
BMMPXBODF

&GGFDUJWF
+BOVBSZ


UIF
$PNQBOZ
BEPQUFE
"46
/P

$SFEJU
-PTTFT
.FBTVSFNFOU
PG
$SFEJU
-PTTFT
PO
'JOBODJBM *OTUSVNFOUT
5IF
DPOTPMJEBUFE
GJOBODJBM
TUBUFNFOUT
JODMVEJOH
SFMBUFE
EJTDMPTVSFT
XJMM
SFGMFDU
UIJT
BEPQUJPO
JO
QSPTQFDUJWF
GJOBODJBM QFSJPET
5IF
GPMMPXJOH
JT
B
TVNNBSZ
PG
UIF
BDUJWJUZ
JO
UIF
BMMPXBODF
GPS
EPVCUGVM
BDDPVOUT
JO
UIPVTBOET  :FBS
&OEFE
%FDFNCFS
    #BMBODF
BU
CFHJOOJOH
PG
QFSJPE          1SPWJTJPO
OFU
PG
SFDPWFSJFT       8SJUFPGGT
BOE
PUIFS
BEKVTUNFOUT       #BMBODF
BU
FOE
PG
QFSJPE         

*OWFOUPSZ
*OWFOUPSZ
DPOTJTUT
QSJNBSJMZ
PG
QVSDIBTFE
QSPEVDUT
JODMVEJOH
TVCTDSJCFS
FRVJQNFOU
EFWJDFT
XIJDI
XPSL
PO
UIF
$PNQBOZgT OFUXPSL
PG
BQQSPYJNBUFMZ

NJMMJPO
BOE

NJMMJPO
BT
PG
%FDFNCFS


BOE

SFTQFDUJWFMZ
BT
XFMM
BT
HSPVOE JOGSBTUSVDUVSF
BTTFUT
FYQFDUFE
UP
CF
VTFE
BT
TQBSF
QBSUT
PG
BQQSPYJNBUFMZ

NJMMJPO
BOE

NJMMJPO
BT
PG
%FDFNCFS

 BOE

SFTQFDUJWFMZ
*OWFOUPSZ
JT
TUBUFE
BU
UIF
MPXFS
PG
DPTU
BOE
OFU
SFBMJ[BCMF
WBMVF
$PTU
JT
DPNQVUFE
VTJOH
UIF
GJSTUJO
GJSTU PVU
'*'0
NFUIPE
*OWFOUPSZ
XSJUF
EPXOT
BSF
NFBTVSFE
BT
UIF
EJGGFSFODF
CFUXFFO
UIF
DPTU
PG
JOWFOUPSZ
BOE
UIF
OFU
SFBMJ[BCMF WBMVF
BOE
BSF
SFDPSEFE
BT
B
DPTU
PG
TVCTDSJCFS
FRVJQNFOU
TBMFT

SFEVDUJPO
JO
UIF
WBMVF
PG
JOWFOUPSZ
JO
UIF
$PNQBOZgT
$POTPMJEBUFE 'JOBODJBM
4UBUFNFOUT
"U
UIF
QPJOU
PG
BOZ
JOWFOUPSZ
XSJUF
EPXO
UP
OFU
SFBMJ[BCMF
WBMVF
B
OFX
MPXFS
DPTU
CBTJT
GPS
UIBU
JOWFOUPSZ JT
FTUBCMJTIFE
BOE
BOZ
TVCTFRVFOU
DIBOHFT
JO
GBDUT
BOE
DJSDVNTUBODFT
EP
OPU
SFTVMU
JO
UIF
SFTUPSBUJPO
PG
UIF
GPSNFS
DPTU
CBTJT
PS JODSFBTF
JO
UIBU
OFXMZ
FTUBCMJTIFE
DPTU
CBTJT
1SPEVDU
TBMFT
BOE
SFUVSOT
GSPN
UIF
QSFWJPVT

NPOUIT
BOE
GVUVSF
EFNBOE
GPSFDBTUT BSF
SFWJFXFE
BOE
FYDFTT
BOE
PCTPMFUF
JOWFOUPSZ
JT
XSJUUFO
PGG

'PS
UIF
ZFBST
FOEFE
%FDFNCFS


BOE

UIF
$PNQBOZ
XSPUF
EPXO
UIF
WBMVF
PG
JOWFOUPSZ
CZ

NJMMJPO
BOE
 NJMMJPO
SFTQFDUJWFMZ
BGUFS
BEKVTUJOH
GPS
DIBOHFT
JO
OFU
SFBMJ[BCMF
WBMVF
*O

UIF
$PNQBOZ
SFEVDFE
UIF
DBSSZJOH
WBMVF
PG HBUFXBZ
TQBSF
QBSUT
EVF
UP
FYDFTT
IBSEXBSF
QBSUT
*O

UIF
DBSSZJOH
WBMVF
PG
DFSUBJO
QSPEVDUT
QBSUJDVMBSMZ
JO
JOUFSOBUJPOBM MPDBUJPOT
XBT
IJHIFS
UIBO
UIF
OFU
SFBMJ[BCMF
WBMVF
BEEJUJPOBMMZ
UIF
$PNQBOZ
SFDPSEFE
B
SFEVDUJPO
JO
UIF
WBMVF
PG
QSFQBJE
JOWFOUPSZ

 EVF
UP
EFTJHO
DIBOHFT
GPS
QSPEVDUT
VOEFS
EFWFMPQNFOU
%VSJOH
UIF
ZFBS
FOEFE
%FDFNCFS


OP
XSJUF
EPXO
PG
JOWFOUPSZ XBT
SFRVJSFE

1SPQFSUZ
BOE
&RVJQNFOU
5IF
(MPCBMTUBS
4ZTUFN
JODMVEFT
DPTUT
GPS
UIF
EFTJHO
NBOVGBDUVSF
UFTU
BOE
MBVODI
PG
B
DPOTUFMMBUJPO
PG
MPX
FBSUI
PSCJU
TBUFMMJUFT UIF
a4QBDF
$PNQPOFOUb
BOE
QSJNBSZ
BOE
CBDLVQ
DPOUSPM
DFOUFST
BOE
HBUFXBZT
UIF
a(SPVOE
$PNQPOFOUb 

1SPQFSUZ
BOE FRVJQNFOU
JT
TUBUFE
BU
DPTU
OFU
PG
BDDVNVMBUFE
EFQSFDJBUJPO

$PTUT
BTTPDJBUFE
XJUI
UIF
EFTJHO
NBOVGBDUVSF
UFTU
BOE
MBVODI
PG
UIF
$PNQBOZgT
4QBDF
BOE
(SPVOE
$PNQPOFOUT
BSF
DBQJUBMJ[FE $BQJUBMJ[FE
DPTUT
BTTPDJBUFE
XJUI
UIF
$PNQBOZgT
4QBDF
$PNQPOFOU
(SPVOE
$PNQPOFOU
BOE
PUIFS
BTTFUT
BSF
USBDLFE
CZ
GJYFE BTTFU
DBUFHPSZ
BOE
BSF
BMMPDBUFE
UP
FBDI
BTTFU
BT
JU
DPNFT
JOUP
TFSWJDF
8IFO
B
TFDPOEHFOFSBUJPO
TBUFMMJUF
XBT
JODPSQPSBUFE
JOUP UIF
TFDPOEHFOFSBUJPO
DPOTUFMMBUJPO
UIF
$PNQBOZ
CFHBO
EFQSFDJBUJPO
PO
UIF
EBUF
UIF
TBUFMMJUF
XBT
QMBDFE
JOUP
TFSWJDF
XIJDI
XBT UIF
QPJOU
UIBU
UIF
TBUFMMJUF
SFBDIFE
JUT
PSCJUBM
BMUJUVEF
PWFS
JUT
FTUJNBUFE
EFQSFDJBCMF
MJGF
5IF
$PNQBOZ
DBQJUBMJ[FT
JOUFSFTU
DPTUT
BTTPDJBUFE
XJUI
UIF
DPTUT
PG
BTTFUT
JO
QSPHSFTT
$BQJUBMJ[FE
JOUFSFTU
JT
BEEFE
UP
UIF
DPTU PG
UIF
VOEFSMZJOH
BTTFU
BOE
JT
BNPSUJ[FE
PWFS
UIF
EFQSFDJBCMF
MJGF
PG
UIF
BTTFU
BGUFS
JU
JT
QMBDFE
JOUP
TFSWJDF
"T
UIF
$PNQBOZgT DPOTUSVDUJPO
JO
QSPHSFTT
EFDSFBTFT
UIF
$PNQBOZ
DBQJUBMJ[FT
MFTT
JOUFSFTU
SFTVMUJOH
JO
B
IJHIFS
BNPVOU
PG
OFU
JOUFSFTU
FYQFOTF SFDPHOJ[FE
VOEFS
64
(""1

%FQSFDJBUJPO
JT
QSPWJEFE
VTJOH
UIF
TUSBJHIUMJOF
NFUIPE
PWFS
UIF
FTUJNBUFE
VTFGVM
MJWFT
PG
UIF
SFTQFDUJWF
BTTFUT
BT
GPMMPXT

4QBDF
$PNQPOFOU


ZFBST
GSPN
UIF
DPNNFODFNFOU
PG
TFSWJDF (SPVOE
$PNQPOFOU

6Q
UP

ZFBST
GSPN
DPNNFODFNFOU
PG
TFSWJDF 4PGUXBSF
'BDJMJUJFT

&RVJQNFOU


UP

ZFBST
#VJMEJOHT


ZFBST -FBTFIPME
*NQSPWFNFOUT

4IPSUFS
PG
MFBTF
UFSN
PS
UIF
FTUJNBUFE
VTFGVM
MJWFT
PG
UIF
JNQSPWFNFOUT

5IF
$PNQBOZ
FWBMVBUFT
BOE
SFWJTFT
UIF
FTUJNBUFE
EFQSFDJBCMF
MJWFT
BTTJHOFE
UP
QSPQFSUZ
BOE
FRVJQNFOU
CBTFE
PO
DIBOHFT
JO GBDUT
BOE
DJSDVNTUBODFT
8IFO
DIBOHFT
BSF
NBEF
UP
FTUJNBUFE
VTFGVM
MJWFT
UIF
SFNBJOJOH
DBSSZJOH
BNPVOUT
BSF
EFQSFDJBUFE QSPTQFDUJWFMZ
PWFS
UIF
SFNBJOJOH
VTFGVM
MJWFT
'PS
BTTFUT
UIBU
BSF
TPME
PS
SFUJSFE
JODMVEJOH
TBUFMMJUFT
UIBU
BSF
EFPSCJUFE
BOE
OP
MPOHFS
QSPWJEJOH
TFSWJDFT
UIF
FTUJNBUFE
DPTU BOE
BDDVNVMBUFE
EFQSFDJBUJPO
JT
SFNPWFE
GSPN
QSPQFSUZ
BOE
FRVJQNFOU

5IF
$PNQBOZ
BTTFTTFT
UIF
JNQBJSNFOU
PG
MPOHMJWFE
BTTFUT
XIFO
JOEJDBUPST
PG
JNQBJSNFOU
BSF
QSFTFOU

3FDPWFSBCJMJUZ
PG
BTTFUT JT
NFBTVSFE
CZ
DPNQBSJOH
UIF
DBSSZJOH
BNPVOUT
PG
UIF
BTTFUT
UP
UIF
FTUJNBUFE
GVUVSF
VOEJTDPVOUFE
DBTI
GMPXT
FYDMVEJOH
GJOBODJOH DPTUT
*G
UIF
$PNQBOZ
EFUFSNJOFT
UIBU
BO
JNQBJSNFOU
FYJTUT
BOZ
SFMBUFE
JNQBJSNFOU
MPTT
JT
FTUJNBUFE
CBTFE
PO
GBJS
WBMVFT

"TTFUT
IFME
GPS
TBMF
BSF
DBSSJFE
BU
UIF
MPXFS
PG
DPTU
PS
GBJS
WBMVF
MFTT
FTUJNBUFE
DPTU
UP
TFMM
UIFTF
BTTFUT
BSF
HFOFSBMMZ
DMBTTJGJFE BT
DVSSFOU
PO
UIF
$PNQBOZT
DPOTPMJEBUFE
CBMBODF
TIFFUT
BT
UIF
EJTQPTBM
PG
UIFTF
BTTFUT
JT
FYQFDUFE
XJUIJO
POF
ZFBS
"T
PG
%FDFNCFS 

UIF
$PNQBOZ
IBE
BQQSPYJNBUFMZ

NJMMJPO
PG
BTTFUT
DMBTTJGJFE
BT
IFME
GPS
TBMF
EVF
UP
UIF
BOUJDJQBUFE
EJTQPTBM
PG
JUT GPSNFS
HBUFXBZ
MPDBUJPO
JO
/JDBSBHVB
5IF
DIBOHF
JO
DMBTTJGJDBUJPO
GSPN
IFME
BOE
VTFE
UP
IFME
GPS
TBMF
SFTVMUFE
JO
BO
JNQBJSNFOU GPS
MPOHMJWFE
BTTFUT
PG

NJMMJPO
XIJDI
XBT
SFDPSEFE
EVSJOH

JO
UIF
$PNQBOZT
DPOTPMJEBUFE
TUBUFNFOU
PG
PQFSBUJPOT

-FBTFT
5IF
$PNQBOZ
IBT
PQFSBUJOH
BOE
GJOBODF
MFBTFT
GPS
GBDJMJUJFT
BOE
FRVJQNFOU
UISPVHIPVU
UIF
6OJUFE
4UBUFT
BOE
BSPVOE
UIF
XPSME JODMVEJOH
DPSQPSBUF
PGGJDFT
TBUFMMJUF
DPOUSPM
DFOUFST
HSPVOE
DPOUSPM
DFOUFST
HBUFXBZT
BOE
DFSUBJO
FRVJQNFOU

 6QPO
JODFQUJPO
PG
B
DPOUSBDU
UIF
$PNQBOZ
FWBMVBUFT
JG
UIF
DPOUSBDU
PS
QBSU
PG
UIF
DPOUSBDU
DPOUBJOT
B
MFBTF
"
MFBTF
DPOWFZT UIF
SJHIU
UP
DPOUSPM
UIF
VTF
PG
BO
JEFOUJGJFE
BTTFU
GPS
B
QFSJPE
PG
UJNF
JO
FYDIBOHF
GPS
DPOTJEFSBUJPO
-FBTFT
JODMVEF
CPUI
B
SJHIU PGVTF
BTTFU
BOE
B
MFBTF
MJBCJMJUZ
5IF
SJHIUPGVTF
BTTFU
SFQSFTFOUT
UIF
$PNQBOZgT
SJHIU
UP
VTF
UIF
VOEFSMZJOH
BTTFU
JO
UIF
MFBTF $FSUBJO
JOJUJBM
EJSFDU
DPTUT
BTTPDJBUFE
XJUI
DPOTVNNBUJOH
B
MFBTF
BSF
JODMVEFE
JO
UIF
JOJUJBM
NFBTVSFNFOU
PG
UIF
SJHIUPGVTF
BTTFU 5IF
SJHIUPGVTF
BTTFU
BMTP
JODMVEFT
QSFQBJE
MFBTF
QBZNFOUT
BOE
MFBTF
JODFOUJWFT
5IF
MFBTF
MJBCJMJUZ
SFQSFTFOUT
UIF
QSFTFOU
WBMVF PG
UIF
SFNBJOJOH
MFBTF
QBZNFOUT
EJTDPVOUFE
VTJOH
UIF
JNQMJDJU
SBUF
JO
UIF
MFBTF
PO
UIF
MFBTF
DPNNFODFNFOU
EBUF
'PS
MFBTFT
JO XIJDI
UIF
JNQMJDJU
SBUF
JT
OPU
SFBEJMZ
EFUFSNJOBCMF
BO
FTUJNBUFE
JODSFNFOUBM
CPSSPXJOH
SBUF
JT
VTFE
XIJDI
SFQSFTFOUT
B
SBUF
PG JOUFSFTU
UIBU
UIF
$PNQBOZ
XPVME
QBZ
UP
CPSSPX
PO
B
DPMMBUFSBMJ[FE
CBTJT
PWFS
B
TJNJMBS
UFSN
5IF
$PNQBOZ
IBT
FMFDUFE
UP
DPNCJOF MFBTF
BOE
OPOMFBTF
DPNQPOFOUT
JG
BQQMJDBCMF
"T
PG
%FDFNCFS


UIFSF
BSF
OP
MFBTFT
OPU
ZFU
DPNNFODFE
UIBU
DSFBUF TJHOJGJDBOU
SJHIUT
BOE
PCMJHBUJPOT

'PS
PQFSBUJOH
MFBTFT
UIF
$PNQBOZ
SFDPSET
MFBTF
FYQFOTF
PO
B
TUSBJHIUMJOF
CBTJT
PWFS
UIF
MFBTF
UFSN
JO
FJUIFS
NBSLFUJOH
HFOFSBM BOE
BENJOJTUSBUJWF
FYQFOTF
PS
DPTU
PG
TFSWJDFT
EFQFOEJOH
PO
UIF
OBUVSF
PG
UIF
VOEFSMZJOH
BTTFU
'PS
GJOBODF
MFBTFT
UIF
$PNQBOZ SFDPSET
UIF
BNPSUJ[BUJPO
PG
UIF
SJHIUPGVTF
BTTFU
UISPVHI
EFQSFDJBUJPO
BNPSUJ[BUJPO
BOE
BDDSFUJPO
FYQFOTF
BOE
SFDPSET
UIF
JOUFSFTU FYQFOTF
PO
UIF
MFBTF
MJBCJMJUZ
UISPVHI
JOUFSFTU
FYQFOTF
OFU
VTJOH
UIF
FGGFDUJWF
JOUFSFTU
NFUIPE

7BSJBCMF
MFBTF
QBZNFOUT
BSF
QBZNFOUT
NBEF
UP
B
MFTTPS
EVF
UP
DIBOHFT
JO
DJSDVNTUBODFT
PDDVSSJOH
BGUFS
UIF
DPNNFODFNFOU EBUF
7BSJBCMF
MFBTF
QBZNFOUT
EFQFOEFOU
VQPO
BO
JOEFY
PS
SBUF
BSF
JODMVEFE
JO
UIF
NFBTVSFNFOU
PG
UIF
MFBTF
MJBCJMJUZ
BMM
PUIFS WBSJBCMF
MFBTF
QBZNFOUT
BSF
OPU
JODMVEFE
JO
UIF
NFBTVSFNFOU
PG
UIF
MFBTF
MJBCJMJUZ
BOE
SFDPHOJ[FE
XIFO
JODVSSFE
7BSJBCMF
MFBTF QBZNFOUT
FYDMVEFE
GSPN
UIF
NFBTVSFNFOU
PG
UIF
MFBTF
MJBCJMJUZ
BSF
VODPNNPO
BOE
XIFO
JODVSSFE
BSF
JNNBUFSJBM
GPS
UIF
$PNQBOZ

5IF
$PNQBOZgT
MFBTFT
IBWF
SFNBJOJOH
MFBTF
UFSNT
PG
MFTT
UIBO

ZFBS
UP

ZFBST
-FBTF
UFSNT
JODMVEF
SFOFXBM
PS
UFSNJOBUJPO PQUJPOT
UIBU
UIF
$PNQBOZ
JT
SFBTPOBCMZ
DFSUBJO
UP
FYFSDJTF
'PS
MFBTFT
XJUI
B
UFSN
PG
UXFMWF
NPOUIT
PS
MFTT
UIF
$PNQBOZ
EPFT OPU
SFDPSE
B
SJHIUPGVTF
BTTFU
BOE
BTTPDJBUFE
MFBTF
MJBCJMJUZ
PO
JUT
DPOEFOTFE
DPOTPMJEBUFE
CBMBODF
TIFFU

5IF
$PNQBOZ
SFWJFXT
UIF
DBSSZJOH
WBMVF
PG
JUT
SJHIUPGVTF
BTTFUT
GPS
JNQBJSNFOU
XIFOFWFS
FWFOUT
PS
DIBOHFT
JO
DJSDVNTUBODFT JOEJDBUF
UIBU
UIF
SFDPSEFE
WBMVF
NBZ
OPU
CF
SFDPWFSBCMF
3FDPWFSBCJMJUZ
PG
BTTFUT
JT
NFBTVSFE
CZ
DPNQBSJOH
UIF
DBSSZJOH
BNPVOUT PG
UIF
BTTFUT
UP
UIF
FTUJNBUFE
GVUVSF
VOEJTDPVOUFE
DBTI
GMPXT
FYDMVEJOH
GJOBODJOH
DPTUT
*G
UIF
$PNQBOZ
EFUFSNJOFT
UIBU
BO JNQBJSNFOU
FYJTUT
BOZ
SFMBUFE
JNQBJSNFOU
MPTT
JT
FTUJNBUFE
CBTFE
PO
GBJS
WBMVFT

%FSJWBUJWF
*OTUSVNFOUT
5IF
$PNQBOZ
IBT
GJOBODJOH
BSSBOHFNFOUT
UIBU
BSF
IZCSJE
JOTUSVNFOUT
UIBU
DPOUBJO
FNCFEEFE
EFSJWBUJWF
GFBUVSFT
%FSJWBUJWF JOTUSVNFOUT
BSF
SFDPHOJ[FE
BT
FJUIFS
BTTFUT
PS
MJBCJMJUJFT
JO
UIF
DPOTPMJEBUFE
CBMBODF
TIFFUT
BOE
BSF
NFBTVSFE
BU
GBJS
WBMVF
XJUI HBJOT
PS
MPTTFT
SFDPHOJ[FE
JO
FBSOJOHT
5IF
$PNQBOZ
EFUFSNJOFT
UIF
GBJS
WBMVF
PG
EFSJWBUJWF
JOTUSVNFOUT
CBTFE
PO
BWBJMBCMF
NBSLFU EBUB
VTJOH
BQQSPQSJBUF
WBMVBUJPO
NPEFMT
%FGFSSFE
'JOBODJOH
$PTUT
%FGFSSFE
GJOBODJOH
DPTUT
BSF
UIPTF
DPTUT
EJSFDUMZ
JODVSSFE
JO
PCUBJOJOH
MPOHUFSN
EFCU
5IFTF
DPTUT
BSF
BNPSUJ[FE
BT
BEEJUJPOBM JOUFSFTU
FYQFOTF
PWFS
UIF
FYQFDUFE
UFSN
PG
UIF
DPSSFTQPOEJOH
EFCU
%FGFSSFE
GJOBODJOH
DPTUT
BSF
SFDPSEFE
PO
UIF
$PNQBOZT DPOTPMJEBUFE
CBMBODF
TIFFUT
BT
B
SFEVDUJPO
JO
UIF
DBSSZJOH
BNPVOU
PG
UIF
SFMBUFE
EFCU
MJBCJMJUZ
5IF
$PNQBOZ
DMBTTJGJFT
EFGFSSFE GJOBODJOH
DPTUT
DPOTJTUFOU
XJUI
UIF
DMBTTJGJDBUJPO
PG
UIF
SFMBUFE
EFCU
PVUTUBOEJOH
BU
UIF
FOE
PG
UIF
SFQPSUJOH
QFSJPE
"T
PG
%FDFNCFS
 
BOE

UIF
$PNQBOZ
IBE
OFU
EFGFSSFE
GJOBODJOH
DPTUT
PG

NJMMJPO
BOE

NJMMJPO
SFTQFDUJWFMZ
5IF
JODSFBTF
JO EFGFSSFE
GJOBODJOH
DPTUT
GSPN

UP

JT
ESJWFO
CZ
BEEJUJPOT
GPS
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
"HSFFNFOU
FOUFSFE
JOUP JO
/PWFNCFS

PGGTFU
CZ
B
SFEVDUJPO
JO
DPTUT
SFMBUFE
UP
UIF
$PNQBOZT
'BDJMJUZ
"HSFFNFOU
UIBU
XBT
NPEJGJFE
JO
/PWFNCFS 
TFF
/PUF

-POH5FSN
%FCU
BOE
0UIFS
'JOBODJOH
"SSBOHFNFOUT 
'BJS
7BMVF
PG
'JOBODJBM
*OTUSVNFOUT
5IF
$PNQBOZ
CFMJFWFT
JU
JT
OPU
QSBDUJDBCMF
UP
EFUFSNJOF
UIF
GBJS
WBMVF
PG
UIF
'BDJMJUZ
"HSFFNFOU
BOE
4FDPOE
-JFO
5FSN
-PBO 'BDJMJUZ
*OUFSFTU
SBUFT
BOE
PUIFS
UFSNT
GPS
MPOHUFSN
EFCU
BSF
OPU
SFBEJMZ
BWBJMBCMF
BOE
HFOFSBMMZ
JOWPMWF
B
WBSJFUZ
PG
GBDUPST JODMVEJOH
EVF
EJMJHFODF
CZ
UIF
EFCU
IPMEFST
'PS
UIF
$PNQBOZT
PUIFS
EFCU
JOTUSVNFOUT
XIJDI
JODMVEF
UIF
-PBO
"HSFFNFOU
XJUI 5IFSNP
BOE
UIF
$PNQBOZgT

$POWFSUJCMF
4FOJPS
/PUFT
*TTVFE
JO

a

/PUFTb
UIF
GBJS
WBMVF
PG
EFCU
JT DBMDVMBUFE
VTJOH
JOQVUT
DPOTJTUFOU
XJUI
UIPTF
VTFE
UP
DBMDVMBUF
UIF
GBJS
WBMVF
PG
UIF
EFSJWBUJWFT
FNCFEEFE
JO
UIFTF
JOTUSVNFOUT

 -JUJHBUJPO
$PNNJUNFOUT
BOE
$POUJOHFODJFT
5IF
$PNQBOZ
JT
TVCKFDU
UP
WBSJPVT
DMBJNT
BOE
MBXTVJUT
UIBU
BSJTF
JO
UIF
PSEJOBSZ
DPVSTF
PG
CVTJOFTT
&TUJNBUJOH
MJBCJMJUJFT
BOE DPTUT
BTTPDJBUFE
XJUI
UIFTF
NBUUFST
SFRVJSFT
KVEHNFOU
BOE
BTTFTTNFOU
CBTFE
PO
QSPGFTTJPOBM
LOPXMFEHF
BOE
FYQFSJFODF
PG
PVS NBOBHFNFOU
BOE
MFHBM
DPVOTFM
8IFO
B
MPTT
JT
DPOTJEFSFE
QSPCBCMF
BOE
SFBTPOBCMZ
FTUJNBCMF
B
MJBCJMJUZ
JT
SFDPSEFE
GPS
UIF $PNQBOZT
CFTU
FTUJNBUF
*G
UIFSF
JT
B
SBOHF
PG
MPTT
UIF
$PNQBOZ
XJMM
SFDPSE
B
SFTFSWF
CBTFE
PO
UIF
MPX
FOE
PG
UIF
SBOHF
VOMFTT GBDUT
BOE
DJSDVNTUBODFT
DBO
TVQQPSU
B
EJGGFSFOU
QPJOU
JO
UIF
SBOHF
8IFO
B
MPTT
JT
QSPCBCMF
CVU
OPU
SFBTPOBCMZ
FTUJNBCMF
EJTDMPTVSF JT
QSPWJEFE
BT
DPOTJEFSFE
OFDFTTBSZ
3FTFSWFT
GPS
QPUFOUJBM
DMBJNT
PS
MBXTVJUT
NBZ
CF
SFMJFWFE
JG
UIF
MPTT
JT
OP
MPOHFS
DPOTJEFSFE QSPCBCMF
5IF
VMUJNBUF
SFTPMVUJPO
PG
BOZ
TVDI
FYQPTVSF
NBZ
WBSZ
GSPN
FBSMJFS
FTUJNBUFT
BT
GVSUIFS
GBDUT
BOE
DJSDVNTUBODFT
CFDPNF LOPXO

(BJO-PTT
PO
&YUJOHVJTINFOU
PG
%FCU
(BJO
PS
MPTT
PO
FYUJOHVJTINFOU
PG
EFCU
HFOFSBMMZ
JT
SFDPSEFE
VQPO
BO
FYUJOHVJTINFOU
PG
B
EFCU
JOTUSVNFOU
PS
UIF
DPOWFSTJPO PG
DFSUBJO
PG
UIF
$PNQBOZgT
DPOWFSUJCMF
OPUFT
(BJO
PS
MPTT
PO
FYUJOHVJTINFOU
PG
EFCU
JT
DBMDVMBUFE
BT
UIF
EJGGFSFODF
CFUXFFO
UIF SFBDRVJTJUJPO
QSJDF
BOE
OFU
DBSSZJOH
BNPVOU
PG
UIF
EFCU
BOE
JT
SFDPSEFE
BT
BO
FYUJOHVJTINFOU
HBJO
PS
MPTT
JO
UIF
$PNQBOZgT DPOTPMJEBUFE
TUBUFNFOU
PG
PQFSBUJPOT
3FWFOVF
3FDPHOJUJPO
BOE
%FGFSSFE
3FWFOVF
&GGFDUJWF
+BOVBSZ


UIF
$PNQBOZ
BEPQUFE
"4$

VTJOH
UIF
NPEJGJFE
SFUSPTQFDUJWF
NFUIPE
"T
TVDI
UIF
SFWFOVF BDDPVOUJOH
QPMJDJFT
CFMPX
SFGMFDU
UIF
$PNQBOZT
QPMJDJFT
BGUFS
BEPQUJPO
PG
UIJT
TUBOEBSE
3FGFS
UP
UIF
$PNQBOZT
BOOVBM
SFQPSU
PO 'PSN
,
GPS
UIF
ZFBS
FOEFE
%FDFNCFS


GPS
JUT
SFWFOVF
BDDPVOUJOH
QPMJDJFT
JO
QMBDF
EVSJOH

BOE


3FWFOVF
DPOTJTUT
QSJNBSJMZ
PG
TBUFMMJUF
WPJDF
BOE
EBUB
TFSWJDF
SFWFOVF
BOE
SFWFOVF
HFOFSBUFE
GSPN
UIF
TBMF
PG
GJYFE
BOE
NPCJMF EFWJDFT
BT
XFMM
BT
PUIFS
QSPEVDUT
BOE
BDDFTTPSJFT
"
QFSGPSNBODF
PCMJHBUJPO
JT
B
QSPNJTF
JO
B
DPOUSBDU
UP
USBOTGFS
B
EJTUJODU
HPPE PS
TFSWJDF
UP
UIF
DVTUPNFS
&BDI
UZQF
PG
SFWFOVF
JT
B
TFQBSBUF
QFSGPSNBODF
PCMJHBUJPO
XJUI
EJTUJODU
EFMJWFSBCMFT
BOE
JT
UIFSFGPSF BDDPVOUFE
GPS
EJTDSFUFMZ
3FWFOVF
JT
NFBTVSFE
CBTFE
PO
UIF
DPOTJEFSBUJPO
TQFDJGJFE
JO
B
DPOUSBDU
XJUI
B
DVTUPNFS
BEKVTUFE
GPS DSFEJUT
BOE
EJTDPVOUT
BT
BQQMJDBCMF
BOE
JT
SFDPHOJ[FE
XIFO
UIF
$PNQBOZ
TBUJTGJFT
B
QFSGPSNBODF
PCMJHBUJPO
CZ
USBOTGFSSJOH
DPOUSPM PWFS
B
QSPEVDU
PS
TFSWJDF
UP
B
DVTUPNFS

6OMFTT
PUIFSXJTF
EJTDMPTFE
TFSWJDF
SFWFOVF
JT
SFDPHOJ[FE
PWFS
B
QFSJPE
PG
UJNF
BOE
SFWFOVF
GSPN
UIF
TBMF
PG
TVCTDSJCFS FRVJQNFOU
JT
SFDPHOJ[FE
BU
B
QPJOU
JO
UJNF
5IF
SFDPHOJUJPO
PG
SFWFOVF
GPS
TFSWJDF
JT
PWFS
UJNF
BT
UIF
DVTUPNFS
TJNVMUBOFPVTMZ SFDFJWFT
BOE
DPOTVNFT
UIF
CFOFGJUT
PG
UIF
$PNQBOZgT
QFSGPSNBODF
PWFS
UIF
DPOUSBDU
UFSN
5IF
SFDPHOJUJPO
PG
SFWFOVF
GPS
TVCTDSJCFS FRVJQNFOU
JT
BU
B
QPJOU
JO
UJNF
BT
UIF
SJTLT
BOE
SFXBSET
PG
PXOFSTIJQ
PG
UIF
IBSEXBSF
USBOTGFS
UP
UIF
DVTUPNFS
HFOFSBMMZ
VQPO TIJQNFOU
XIJDI
JT
XIFO
MFHBM
UJUMF
PG
UIF
QSPEVDU
USBOTGFST
UP
UIF
DVTUPNFS
BNPOH
PUIFS
UIJOHT
BT
EJTDVTTFE
GVSUIFS
CFMPX 

5IF
$PNQBOZ
EPFT
OPU
SFDPSE
TBMFT
UBYFT
UFMFDPNNVOJDBUJPO
UBYFT
PS
PUIFS
HPWFSONFOUBM
GFFT
DPMMFDUFE
GSPN
DVTUPNFST
JO SFWFOVF
5IF
$PNQBOZ
FYDMVEFT
UIFTF
UBYFT
GSPN
UIF
NFBTVSFNFOU
PG
DPOUSBDU
USBOTBDUJPO
QSJDFT

5IF
$PNQBOZ
SFDFJWFT
QBZNFOU
GSPN
DVTUPNFST
JO
BDDPSEBODF
XJUI
CJMMJOH
TUBUFNFOUT
PS
JOWPJDFT
GPS
DVTUPNFS
DPOUSBDUT
UIFTF QBZNFOUT
NBZ
CF
JO
BEWBODF
PS
BSSFBST
PG
TFSWJDFT
QSPWJEFE
UP
UIF
DVTUPNFS
CZ
UIF
$PNQBOZ
$VTUPNFS
QBZNFOUT
SFDFJWFE
JO BEWBODF
PG
UIF
DPSSFTQPOEJOH
TFSWJDF
QFSJPE
BSF
SFDPSEFE
BT
EFGFSSFE
SFWFOVF

6QPO
BDUJWBUJPO
PG
B
(MPCBMTUBS
EFWJDF
DFSUBJO
DVTUPNFST
BSF
DIBSHFE
BO
BDUJWBUJPO
GFF
XIJDI
JT
SFDPHOJ[FE
PWFS
UIF
UFSN
PG UIF
FYQFDUFE
DVTUPNFS
MJGF
$SFEJUT
HSBOUFE
UP
DVTUPNFST
BSF
FYQFOTFE
PS
DIBSHFE
BHBJOTU
SFWFOVF
PS
BDDPVOUT
SFDFJWBCMF
PWFS
UIF SFNBJOJOH
UFSN
PG
UIF
DPOUSBDU
&TUJNBUFT
SFMBUFE
UP
FBSOFE
CVU
VOCJMMFE
TFSWJDF
SFWFOVF
BSF
DBMDVMBUFE
QSJNBSJMZ
VTJOH
DVSSFOU TVCTDSJCFS
EBUB
JODMVEJOH
QMBO
TVCTDSJQUJPOT
BOE
VTBHF
CFUXFFO
UIF
FOE
PG
UIF
CJMMJOH
DZDMF
BOE
UIF
FOE
PG
UIF
QFSJPE
5IF
SFDPHOJUJPO PG
TFSWJDF
SFWFOVF
SFMBUFE
UP
BNPVOUT
BMMPDBUFE
UP
QFSGPSNBODF
PCMJHBUJPOT
UIBU
XFSF
TBUJTGJFE
PS
QBSUJBMMZ
TBUJTGJFE
JO
B
QSFWJPVT QFSJPE
JT
OPU
NBUFSJBM
UP
UIF
$PNQBOZgT
GJOBODJBM
TUBUFNFOUT
"NPVOUT
SFMBUFE
UP
FBSOFE
CVU
VOCJMMFE
SFWFOVF
GSPN
UIF
TBMF
PG TVCTDSJCFS
FRVJQNFOU
BSF
SFDPHOJ[FE
JG
IBSEXBSF
JT
TIJQQFE
QSJPS
UP
UIF
JOWPJDF
CFJOH
HFOFSBUFE
5IJT
TJUVBUJPO
NBZ
SFTVMU
GSPN NVMUJEFMJWFSBCMF
DPOUSBDUT
XIFSFCZ
FRVJQNFOU
BOE
TFSWJDF
SFWFOVF
BSF
CVOEMFE
BOE
CJMMFE
PWFS
UJNF
UP
B
TJOHMF
DVTUPNFS

1SPWJTJPOT
GPS
FTUJNBUFE
GVUVSF
XBSSBOUZ
DPTUT
SFUVSOT
BOE
SFCBUFT
BSF
SFDPSEFE
BT
B
DPTU
PG
TBMF
PS
B
SFEVDUJPO
UP
SFWFOVF
BT BQQMJDBCMF
5IFTF
DPTUT
BSF
CBTFE
PO
IJTUPSJDBM
USFOET
BOE
UIF
QSPWJTJPO
JT
SFWJFXFE
SFHVMBSMZ
BOE
QFSJPEJDBMMZ
BEKVTUFE
UP
SFGMFDU DIBOHFT
JO
FTUJNBUFT

 $FSUBJO
DPOUSBDUT
XJUI
DVTUPNFST
NBZ
DPOUBJO
B
GJOBODJOH
DPNQPOFOU
6OEFS
"4$

BO
FOUJUZ
TIPVME
BEKVTU
UIF
QSPNJTFE BNPVOU
PG
UIF
DPOTJEFSBUJPO
GPS
UIF
FGGFDUT
PG
UJNF
WBMVF
PG
NPOFZ
JG
UIF
UJNJOH
PG
UIF
QBZNFOUT
BHSFFE
VQPO
CZ
UIF
QBSUJFT
UP
UIF DPOUSBDU
QSPWJEFT
UIF
DVTUPNFS
PS
UIF
FOUJUZ
XJUI
B
TJHOJGJDBOU
CFOFGJU
PG
GJOBODJOH
GPS
UIF
USBOTGFS
PG
HPPET
PS
TFSWJDFT
UP
UIF DVTUPNFS
5IJT
UZQF
PG
USBOTBDUJPO
JT
JOGSFRVFOU
BOE
OPU
DPOTJEFSFE
NBUFSJBM
UP
UIF
$PNQBOZ
"EEJUJPOBMMZ
JO
DPOOFDUJPO
XJUI
UIF BEPQUJPO
PG
"4$

UIF
$PNQBOZ
IBT
BQQMJFE
UIF
QSBDUJDBM
FYQFEJFOU
SFMBUFE
UP
UIF
FYJTUFODF
PG
B
TJHOJGJDBOU
GJOBODJOH
DPNQPOFOU BT
JU
FYQFDUT
BU
DPOUSBDU
JODFQUJPO
UIBU
UIF
QFSJPE
CFUXFFO
QBZNFOU
CZ
UIF
DVTUPNFS
BOE
USBOTGFS
PG
UIF
QSPNJTFE
HPPET
PS
TFSWJDFT XJMM
CF
POF
ZFBS
PS
MFTT

5IF
GPMMPXJOH
EFTDSJCFT
UIF
QSJODJQBM
BDUJWJUJFT
GSPN
XIJDI
UIF
$PNQBOZ
HFOFSBUFT
JUT
SFWFOVF
5IF
$PNQBOZgT
POMZ
SFQPSUBCMF TFHNFOU
JT
JUT
.44
CVTJOFTT

%VQMFY
4FSWJDF
3FWFOVF
5IF
$PNQBOZ
SFDPHOJ[FT
SFWFOVF
GPS
NPOUIMZ
BDDFTT
GFFT
JO
UIF
QFSJPE
TFSWJDFT
BSF
SFOEFSFE
"DDFTT GFFT
SFQSFTFOU
UIF
NJOJNVN
NPOUIMZ
DIBSHF
GPS
FBDI
MJOF
PG
TFSWJDF
CBTFE
PO
JUT
BTTPDJBUFE
SBUF
QMBO
5IF
$PNQBOZ
BMTP
SFDPHOJ[FT SFWFOVF
GPS
BJSUJNF
NJOVUFT
BOE
EBUB
JO
FYDFTT
PG
UIF
NPOUIMZ
BDDFTT
GFFT
JO
UIF
QFSJPE
TVDI
NJOVUFT
PS
EBUB
BSF
VTFE
5IF
$PNQBOZ PGGFST
DFSUBJO
BOOVBM
QMBOT
XIFSFCZ
B
DVTUPNFS
QSFQBZT
GPS
B
QSFEFUFSNJOFE
BNPVOU
PG
NJOVUFT
BOE
EBUB
*O
UIFTF
DBTFT
SFWFOVF JT
SFDPHOJ[FE
DPOTJTUFOU
XJUI
B
DVTUPNFST
FYQFDUFE
QBUUFSO
PG
VTBHF
CBTFE
PO
IJTUPSJDBM
FYQFSJFODF
CFDBVTF
UIF
$PNQBOZ
CFMJFWFT UIBU
UIJT
NFUIPE
NPTU
BDDVSBUFMZ
EFQJDUT
UIF
TBUJTGBDUJPO
PG
UIF
$PNQBOZT
PCMJHBUJPO
UP
UIF
DVTUPNFS
5IJT
VTBHF
QBUUFSO
JT
UZQJDBMMZ TFBTPOBM
BOE
IJHIFTU
JO
UIF
TFDPOE
BOE
UIJSE
DBMFOEBS
RVBSUFST
PG
UIF
ZFBS
5IF
$PNQBOZ
PGGFST
PUIFS
BOOVBM
QMBOT
XIFSFCZ
UIF DVTUPNFS
JT
DIBSHFE
BO
BOOVBM
GFF
UP
BDDFTT
UIF
$PNQBOZgT
TZTUFN
XJUI
BO
VOMJNJUFE
BNPVOU
PG
VTBHF
"OOVBM
GFFT
GPS
VOMJNJUFE QMBOT
BSF
SFDPHOJ[FE
PO
B
TUSBJHIUMJOF
CBTJT
PWFS
UIF
UFSN
PG
UIF
QMBOT


4105
4FSWJDF
3FWFOVF
5IF
$PNQBOZ
TFMMT
4105
TFSWJDFT
BT
NPOUIMZ
BOOVBM
PS
NVMUJZFBS
QMBOT
BOE
SFDPHOJ[FT
SFWFOVF
PO B
TUSBJHIUMJOF
CBTJT
PWFS
UIF
TFSWJDF
UFSN
CFHJOOJOH
XIFO
UIF
TFSWJDF
JT
BDUJWBUFE
CZ
UIF
DVTUPNFS

$PNNFSDJBM
*P5
4FSWJDF
3FWFOVF
5IF
$PNQBOZ
TFMMT
$PNNFSDJBM
*P5
TFSWJDFT
BT
NPOUIMZ
BOOVBM
PS
NVMUJZFBS
QMBOT
BOE SFDPHOJ[FT
SFWFOVF
SBUBCMZ
PWFS
UIF
TFSWJDF
UFSN
PS
BT
TFSWJDF
JT
VTFE
CFHJOOJOH
XIFO
UIF
TFSWJDF
JT
BDUJWBUFE
CZ
UIF
DVTUPNFS

*OEFQFOEFOU
(BUFXBZ
0QFSBUPS
*(0
4FSWJDF
3FWFOVF
5IF
$PNQBOZ
PXOT
BOE
PQFSBUFT
JUT
TBUFMMJUF
DPOTUFMMBUJPO
BOE
FBSOT B
QPSUJPO
PG
JUT
SFWFOVFT
UISPVHI
UIF
TBMF
PG
BJSUJNF
NJOVUFT
PS
EBUB
PO
B
XIPMFTBMF
CBTJT
UP
*(0T
3FWFOVF
GSPN
TFSWJDFT
QSPWJEFE UP
*(0T
JT
SFDPHOJ[FE
CBTFE
VQPO
BJSUJNF
NJOVUFT
PS
EBUB
QBDLBHFT
VTFE
CZ
DVTUPNFST
PG
UIF
*(0T
BOE
JO
BDDPSEBODF
XJUI DPOUSBDUVBM
GFF
BSSBOHFNFOUT


&RVJQNFOU
3FWFOVF
4VCTDSJCFS
FRVJQNFOU
SFWFOVF
SFQSFTFOUT
UIF
TBMF
PG
GJYFE
BOE
NPCJMF
VTFS
UFSNJOBMT
4105
BOE $PNNFSDJBM
*P5
QSPEVDUT
BOE
BDDFTTPSJFT
5IF
$PNQBOZ
SFDPHOJ[FT
SFWFOVF
VQPO
TIJQNFOU
QSPWJEFE
DPOUSPM
IBT
USBOTGFSSFE
UP UIF
DVTUPNFS
*OEJDBUPST
PG
USBOTGFS
PG
DPOUSPM
JODMVEF
CVU
BSF
OPU
MJNJUFE
UP

UIF
$PNQBOZgT
SJHIU
UP
QBZNFOU

UIF
DVTUPNFS IBT
MFHBM
UJUMF
PG
UIF
FRVJQNFOU

UIF
$PNQBOZ
IBT
USBOTGFSSFE
QIZTJDBM
QPTTFTTJPO
PG
UIF
FRVJQNFOU
UP
UIF
DVTUPNFS
PS
DBSSJFS BOE

UIF
DVTUPNFS
IBT
TJHOJGJDBOU
SJTLT
BOE
SFXBSET
PG
PXOFSTIJQ
PG
UIF
FRVJQNFOU
5IF
$PNQBOZ
TFMMT
FRVJQNFOU
EFTJHOFE
UP XPSL
PO
JUT
OFUXPSL
UISPVHI
WBSJPVT
DIBOOFMT
JODMVEJOH
UISPVHI
EFBMFST
SFUBJMFST
BOE
SFTFMMFST
JODMVEJOH
*(0T
BT
XFMM
BT
EJSFDU UP
DPOTVNFST
PS
PUIFS
CVTJOFTTFT
CZ
JUT
HMPCBM
TBMFT
UFBN
BOE
UISPVHI
JUT
FDPNNFSDF
XFCTJUF
5IF
TBMFT
DIBOOFM
EFQFOET
QSJNBSJMZ PO
UIF
UZQF
PG
FRVJQNFOU
BOE
HFPHSBQIJD
SFHJPO
1SPNPUJPOBM
SFCBUFT
BSF
PGGFSFE
GSPN
UJNF
UP
UJNF
"
SFEVDUJPO
UP
SFWFOVF
JT SFDPSEFE
UP
SFGMFDU
UIF
MPXFS
USBOTBDUJPO
QSJDF
CBTFE
PO
BO
FTUJNBUF
PG
UIF
DVTUPNFS
UBLF
SBUF
BU
UIF
UJNF
PG
UIF
TBMF
VTJOH
QSJNBSJMZ IJTUPSJDBM
EBUB
5IJT
FTUJNBUF
JT
BEKVTUFE
QFSJPEJDBMMZ
UP
SFGMFDU
BDUVBM
SFCBUFT
HJWFO
UP
UIF
$PNQBOZgT
DVTUPNFST
4IJQQJOH
BOE IBOEMJOH
DPTUT
BTTPDJBUFE
XJUI
PVUCPVOE
GSFJHIU
BGUFS
DPOUSPM
PWFS
B
QSPEVDU
IBT
USBOTGFSSFE
UP
B
DVTUPNFS
BSF
BDDPVOUFE
GPS
BT
B GVMGJMMNFOU
DPTU
BOE
BSF
JODMVEFE
JO
DPTU
PG
SFWFOVFT
0UIFS
4FSWJDF
3FWFOVF
0UIFS
TFSWJDF
SFWFOVF
JODMVEFT
QSJNBSJMZ
SFWFOVF
BTTPDJBUFE
XJUI
FOHJOFFSJOH
TFSWJDFT
UP
BTTJTU DVTUPNFST
JO
EFWFMPQJOH
OFX
BQQMJDBUJPOT
SFMBUFE
UP
JUT
TZTUFN
5IF
SFWFOVF
BTTPDJBUFE
XJUI
UIFTF
FOHJOFFSJOH
TFSWJDFT
JT
HFOFSBMMZ SFDPSEFE
PWFS
UJNF
BT
UIF
TFSWJDFT
BSF
SFOEFSFE
BOE
UIF
$PNQBOZT
PCMJHBUJPO
UP
UIF
DVTUPNFS
JT
TBUJTGJFE

.VMUJQMF&MFNFOU
"SSBOHFNFOU
$POUSBDUT
"U
UJNFT
UIF
$PNQBOZ
XJMM
TFMM
TVCTDSJCFS
FRVJQNFOU
UISPVHI
NVMUJQMFFMFNFOU BSSBOHFNFOU
DPOUSBDUT
XJUI
TFSWJDFT
8IFO
UIF
$PNQBOZ
TFMMT
TVCTDSJCFS
FRVJQNFOU
BOE
TFSWJDFT
JO
CVOEMFE
BSSBOHFNFOUT
BOE EFUFSNJOFT
UIBU
JU
IBT
TFQBSBUF
QFSGPSNBODF
PCMJHBUJPOT
UIF
$PNQBOZ
BMMPDBUFT
UIF
CVOEMFE
DPOUSBDU
QSJDF
BNPOH
UIF
WBSJPVT QFSGPSNBODF
PCMJHBUJPOT
CBTFE
PO
SFMBUJWF
TUBOEBMPOF
TFMMJOH
QSJDFT
BU
DPOUSBDU
JODFQUJPO
PG
UIF
EJTUJODU
HPPET
PS
TFSWJDFT
VOEFSMZJOH FBDI
QFSGPSNBODF
PCMJHBUJPO
BOE
SFDPHOJ[FT
SFWFOVF
XIFO
PS
BT
FBDI
QFSGPSNBODF
PCMJHBUJPO
JT
TBUJTGJFE

 4UPDL#BTFE
$PNQFOTBUJPO
5IF
$PNQBOZ
SFDPHOJ[FT
DPNQFOTBUJPO
FYQFOTF
JO
UIF
GJOBODJBM
TUBUFNFOUT
GPS
CPUI
FNQMPZFF
BOE
OPOFNQMPZFF
TIBSFCBTFE BXBSET
CBTFE
PO
UIF
HSBOU
EBUF
GBJS
WBMVF
PG
UIPTF
BXBSET
'PS
TUPDL
PQUJPOT
UIF
$PNQBOZ
VTFT
UIF
#MBDL4DIPMFT
PQUJPO
QSJDJOH NPEFM
UP
FTUJNBUF
GBJS
WBMVFT
PG
TUPDL
PQUJPOT
0QUJPO
QSJDJOH
NPEFMT
JODMVEJOH
UIF
#MBDL4DIPMFT
NPEFM
SFRVJSF
UIF
VTF
PG
JOQVU FTUJNBUFT
BOE
BTTVNQUJPOT
JODMVEJOH
FYQFDUFE
WPMBUJMJUZ
UFSN
BOE
SJTLGSFF
JOUFSFTU
SBUF
5IF
BTTVNQUJPOT
GPS
FYQFDUFE
WPMBUJMJUZ BOE
FYQFDUFE
UFSN
NPTU
TJHOJGJDBOUMZ
BGGFDU
UIF
FTUJNBUFE
HSBOUEBUF
GBJS
WBMVF
'PS
SFTUSJDUFE
TUPDL
BXBSET
BOE
VOJUT
UIF
GBJS
WBMVF JT
EFUFSNJOFE
GSPN
UIF
TUPDL
QSJDF
PO
UIF
HSBOU
EBUF
5IF
$PNQBOZT
FTUJNBUF
PG
UIF
GPSGFJUVSF
SBUF
PG
JUT
TIBSFCBTFE
BXBSET
BMTP JNQBDUT
UIF
UJNJOH
PG
FYQFOTF
SFDPSEFE
PWFS
UIF
WFTUJOH
QFSJPE
PG
UIF
BXBSE
5IF
$PNQBOZT
FTUJNBUF
GPS
QSFWFTUJOH
GPSGFJUVSFT JT
SFDPHOJ[FE
PWFS
UIF
SFRVJTJUF
TFSWJDF
QFSJPET
PG
UIF
BXBSET
PO
B
TUSBJHIUMJOF
CBTJT
XIJDI
JT
HFOFSBMMZ
DPNNFOTVSBUF
XJUI
UIF WFTUJOH
UFSN
4FF
/PUF

4UPDL
$PNQFOTBUJPO
GPS
B
EFTDSJQUJPO
PG
NFUIPET
VTFE
UP
EFUFSNJOF
UIF
$PNQBOZT
BTTVNQUJPOT

'PS
TIBSFCBTFE
BXBSET
XJUI
B
QFSGPSNBODF
DPOEJUJPO
UIBU
BGGFDUT
WFTUJOH
UIF
$PNQBOZ
SFDPHOJ[FT
DPNQFOTBUJPO
DPTU
GPS BXBSET
JG
BOE
XIFO
UIF
QFSGPSNBODF
DPOEJUJPO
JT
QSPCBCMF
PG
BDIJFWFNFOU
'PS
BXBSET
XJUI
B
QFSGPSNBODF
DPOEJUJPO
UIF
$PNQBOZ SFBTTFTTFT
UIF
QSPCBCJMJUZ
PG
WFTUJOH
BU
FBDI
SFQPSUJOH
QFSJPE
BOE
BEKVTUT
DPNQFOTBUJPO
DPTU
CBTFE
PO
UIF
$PNQBOZT
QSPCBCJMJUZ BTTFTTNFOU


'PSFJHO
$VSSFODZ

5IF
GVODUJPOBM
DVSSFODZ
PG
UIF
$PNQBOZgT
GPSFJHO
DPOTPMJEBUFE
TVCTJEJBSJFT
JT
HFOFSBMMZ
UIFJS
MPDBM
DVSSFODZ
VOMFTT
UIF TVCTJEJBSZ
PQFSBUFT
JO
B
IZQFSJOGMBUJPOBSZ
FDPOPNZ
TVDI
BT
7FOF[VFMB
BOE
"SHFOUJOB
"TTFUT
BOE
MJBCJMJUJFT
PG
JUT
GPSFJHO TVCTJEJBSJFT
BSF
USBOTMBUFE
JOUP
6OJUFE
4UBUFT
EPMMBST
CBTFE
PO
FYDIBOHF
SBUFT
BU
UIF
FOE
PG
UIF
SFQPSUJOH
QFSJPE
*ODPNF
BOE
FYQFOTF JUFNT
BSF
USBOTMBUFE
BU
UIF
BWFSBHF
FYDIBOHF
SBUFT
QSFWBJMJOH
EVSJOH
UIF
SFQPSUJOH
QFSJPE
'PS


BOE

UIF
GPSFJHO DVSSFODZ
USBOTMBUJPO
BEKVTUNFOUT
XFSF
OFU
MPTTFT
PG

NJMMJPO
OFU
HBJOT
PG

NJMMJPO
BOE
OFU
MPTTFT
PG

NJMMJPO
SFTQFDUJWFMZ
'PSFJHO
DVSSFODZ
USBOTBDUJPO
HBJOTMPTTFT
XFSF
BQQSPYJNBUFMZ
OFU
HBJOT
PG

NJMMJPO
OFU
MPTTFT
PG

NJMMJPO
BOE
OFU
MPTTFT PG

NJMMJPO
GPS
FBDI
PG


BOE

SFTQFDUJWFMZ
5IFTF
XFSF
DMBTTJGJFE
BT
PUIFS
JODPNF
FYQFOTF
PO
UIF
DPOTPMJEBUFE TUBUFNFOU
PG
PQFSBUJPOT

"TTFU
3FUJSFNFOU
0CMJHBUJPO
-JBCJMJUJFT
BSJTJOH
GSPN
MFHBM
PCMJHBUJPOT
BTTPDJBUFE
XJUI
UIF
SFUJSFNFOU
PG
MPOHMJWFE
BTTFUT
BSF
NFBTVSFE
BU
GBJS
WBMVF
BOE SFDPSEFE
BT
B
MJBCJMJUZ
6QPO
JOJUJBM
SFDPHOJUJPO
PG
B
MJBCJMJUZ
GPS
SFUJSFNFOU
PCMJHBUJPOT
UIF
$PNQBOZ
SFDPSET
BO
BTTFU
XIJDI
JT EFQSFDJBUFE
PWFS
UIF
MJGF
PG
UIF
BTTFU
UP
CF
SFUJSFE
"DDSFUJPO
PG
UIF
BTTFU
SFUJSFNFOU
PCMJHBUJPO
MJBCJMJUZ
BOE
EFQSFDJBUJPO
PG
UIF SFMBUFE
BTTFUT
BSF
JODMVEFE
JO
EFQSFDJBUJPO
BNPSUJ[BUJPO
BOE
BDDSFUJPO
JO
UIF
BDDPNQBOZJOH
DPOTPMJEBUFE
TUBUFNFOUT
PG
PQFSBUJPOT
5IF
$PNQBOZ
DBQJUBMJ[FT
BT
QBSU
PG
UIF
DBSSZJOH
BNPVOU
UIF
FTUJNBUFE
DPTUT
BTTPDJBUFE
XJUI
UIF
FWFOUVBM
SFUJSFNFOU
PG
HBUFXBZT PXOFE
CZ
UIF
$PNQBOZ
"T
PG
CPUI
%FDFNCFS


BOE

UIF
$PNQBOZ
IBE
BDDSVFE
BQQSPYJNBUFMZ

NJMMJPO SFTQFDUJWFMZ
GPS
BTTFU
SFUJSFNFOU
PCMJHBUJPOT
5IF
$PNQBOZ
CFMJFWFT
UIJT
FTUJNBUF
XJMM
CF
TVGGJDJFOU
UP
TBUJTGZ
UIF
$PNQBOZgT PCMJHBUJPO
VOEFS
MFBTFT
UP
SFNPWF
UIF
HBUFXBZ
FRVJQNFOU
BOE
SFTUPSF
UIF
TJUFT
UP
UIFJS
PSJHJOBM
DPOEJUJPO
8BSSBOUZ
&YQFOTF
8BSSBOUZ
UFSNT
FYUFOE
GSPN

EBZT
PO
FRVJQNFOU
BDDFTTPSJFT
UP
POF
ZFBS
GPS
GJYFE
BOE
NPCJMF
VTFS
UFSNJOBMT
"
QSPWJTJPO GPS
FTUJNBUFE
GVUVSF
XBSSBOUZ
DPTUT
JT
SFDPSEFE
BT
DPTU
PG
TBMFT
XIFO
QSPEVDUT
BSF
TIJQQFE
8BSSBOUZ
DPTUT
BSF
CBTFE
PO
IJTUPSJDBM USFOET
JO
XBSSBOUZ
DIBSHFT
BT
B
QFSDFOUBHF
PG
HSPTT
QSPEVDU
TIJQNFOUT
5IF
SFTVMUJOH
BDDSVBM
JT
SFWJFXFE
SFHVMBSMZ
BOE
QFSJPEJDBMMZ BEKVTUFE
UP
SFGMFDU
DIBOHFT
JO
XBSSBOUZ
DPTU
FTUJNBUFT
3FTFBSDI
BOE
%FWFMPQNFOU
&YQFOTFT
3FTFBSDI
BOE
EFWFMPQNFOU
DPTUT
XFSF

NJMMJPO

NJMMJPO
BOE

NJMMJPO
GPS


BOE

SFTQFDUJWFMZ
5IFTF DPTUT
BSF
FYQFOTFE
BT
JODVSSFE
BT
DPTU
PG
TFSWJDFT
BOE
JODMVEF
QSJNBSJMZ
UIF
DPTU
PG
OFX
QSPEVDU
EFWFMPQNFOU
DIJQ
TFU
EFTJHO
BOE PUIFS
FOHJOFFSJOH
XPSL

 "EWFSUJTJOH
&YQFOTFT

"EWFSUJTJOH
DPTUT
XFSF

NJMMJPO

NJMMJPO
BOE

NJMMJPO
GPS


BOE

SFTQFDUJWFMZ
5IFTF
DPTUT
BSF FYQFOTFE
BT
JODVSSFE
BT
NBSLFUJOH
HFOFSBM
BOE
BENJOJTUSBUJWF
FYQFOTFT
*ODPNF
5BYFT
5IF
$PNQBOZ
JT
UBYFE
BT
B
$
DPSQPSBUJPO
GPS
64
UBY
QVSQPTFT
5IF
$PNQBOZ
SFDPHOJ[FT
EFGFSSFE
UBY
BTTFUT
BOE
MJBCJMJUJFT GPS
GVUVSF
UBY
DPOTFRVFODFT
BUUSJCVUBCMF
UP
EJGGFSFODFT
CFUXFFO
UIF
GJOBODJBM
TUBUFNFOU
DBSSZJOH
BNPVOUT
PG
FYJTUJOH
BTTFUT
BOE MJBCJMJUJFT
BOE
UIFJS
SFTQFDUJWF
UBY
CBTJT
PQFSBUJOH
MPTTFT
BOE
UBY
DSFEJU
DBSSZGPSXBSET
5IF
$PNQBOZ
NFBTVSFT
EFGFSSFE
UBY
BTTFUT BOE
MJBCJMJUJFT
VTJOH
UBY
SBUFT
FYQFDUFE
UP
BQQMZ
UP
UBYBCMF
JODPNF
JO
UIF
ZFBST
JO
XIJDI
UIPTF
UFNQPSBSZ
EJGGFSFODFT
BSF
FYQFDUFE UP
CF
SFDPWFSFE
PS
TFUUMFE
5IF
$PNQBOZ
SFDPHOJ[FT
UIF
FGGFDU
PO
EFGFSSFE
UBY
BTTFUT
BOE
MJBCJMJUJFT
PG
B
DIBOHF
JO
UBY
SBUFT
JO JODPNF
JO
UIF
QFSJPE
UIBU
JODMVEFT
UIF
FOBDUNFOU
EBUF
IPXFWFS
BT
UIF
$PNQBOZ
IBT
GVMM
WBMVBUJPO
BMMPXBODF
PO
JUT
EFGFSSFE
UBY BTTFUT
UIFSF
JT
OP
JNQBDU
UP
UIF
DPOTPMJEBUFE
TUBUFNFOUT
PG
PQFSBUJPOT
BOE
CBMBODF
TIFFUT

5IF
$PNQBOZ
BMTP
SFDPHOJ[FT
WBMVBUJPO
BMMPXBODFT
UP
SFEVDF
EFGFSSFE
UBY
BTTFUT
UP
UIF
BNPVOU
UIBU
JT
NPSF
MJLFMZ
UIBO
OPU
UP CF
SFBMJ[FE
*O
BTTFTTJOH
UIF
MJLFMJIPPE
PG
SFBMJ[BUJPO
NBOBHFNFOU
DPOTJEFST
J
GVUVSF
SFWFSTBMT
PG
FYJTUJOH
UBYBCMF
UFNQPSBSZ EJGGFSFODFT
JJ
GVUVSF
UBYBCMF
JODPNF
FYDMVTJWF
PG
SFWFSTJOH
UFNQPSBSZ
EJGGFSFODFT
BOE
DBSSZGPSXBSET
JJJ
UBYBCMF
JODPNF
JO QSJPS
DBSSZCBDL
ZFBS T
JG
DBSSZCBDL
JT
QFSNJUUFE
VOEFS
BQQMJDBCMF
UBY
MBX
BOE
JW
UBY
QMBOOJOH
TUSBUFHJFT
$PNQSFIFOTJWF
*ODPNF
-PTT
"MM
DPNQPOFOUT
PG
DPNQSFIFOTJWF
JODPNF
MPTT
JODMVEJOH
UIF
NJOJNVN
QFOTJPO
MJBCJMJUZ
BEKVTUNFOU
BOE
GPSFJHO
DVSSFODZ USBOTMBUJPO
BEKVTUNFOU
BSF
SFQPSUFE
JO
UIF
GJOBODJBM
TUBUFNFOUT
JO
UIF
QFSJPE
JO
XIJDI
UIFZ
BSF
SFDPHOJ[FE
$PNQSFIFOTJWF
JODPNF MPTT
JT
EFGJOFE
BT
UIF
DIBOHF
JO
FRVJUZ
EVSJOH
B
QFSJPE
GSPN
USBOTBDUJPOT
BOE
PUIFS
FWFOUT
BOE
DJSDVNTUBODFT
GSPN
OPOPXOFS TPVSDFT
&BSOJOHT
-PTT
1FS
4IBSF
5IF
$PNQBOZ
JT
SFRVJSFE
UP
QSFTFOU
CBTJD
BOE
EJMVUFE
FBSOJOHT
MPTT
QFS
TIBSF
#BTJD
FBSOJOHT
MPTT
QFS
TIBSF
JT
DPNQVUFE
CZ EJWJEJOH
JODPNF
MPTT
BWBJMBCMF
UP
DPNNPO
TUPDLIPMEFST
CZ
UIF
XFJHIUFE
BWFSBHF
OVNCFS
PG
TIBSFT
PG
DPNNPO
TUPDL
PVUTUBOEJOH EVSJOH
UIF
QFSJPE
5IF
OVNFSBUPS
VTFE
UP
DBMDVMBUF
EJMVUFE
&14
JODMVEFT
UIF
FGGFDU
PG
EJMVUJWF
TFDVSJUJFT
JODMVEJOH
JOUFSFTU
FYQFOTF OFU
BOE
EFSJWBUJWF
HBJOT
PS
MPTTFT
SFGMFDUFE
JO
OFU
JODPNF
MPTT 
$PNNPO
TUPDL
FRVJWBMFOUT
BSF
JODMVEFE
JO
UIF
DBMDVMBUJPO
PG EJMVUFE
FBSOJOHT
QFS
TIBSF
POMZ
XIFO
UIF
FGGFDU
PG
UIFJS
JODMVTJPO
XPVME
CF
EJMVUJWF
1PUFOUJBMMZ
EJMVUJWF
TFDVSJUJFT
JODMVEF
QSJNBSJMZ PVUTUBOEJOH
TUPDLCBTFE
BXBSET
DPOWFSUJCMF
OPUFT
XBSSBOUT
BOE
TIBSFT
JTTVBCMF
QVSTVBOU
UP
UIF
$PNQBOZT
&NQMPZFF
4UPDL 1VSDIBTF
1MBO

*OUBOHJCMF
BOE
0UIFS
"TTFUT
*OUBOHJCMF
"TTFUT
/PU
4VCKFDU
UP
"NPSUJ[BUJPO

"
TJHOJGJDBOU
QPSUJPO
PG
UIF
$PNQBOZT
JOUBOHJCMF
BTTFUT
BSF
MJDFOTFT
UIBU
QSPWJEF
UIF
$PNQBOZ
UIF
FYDMVTJWF
SJHIU
UP
QSPWJEF .44
TFSWJDFT
PWFS
UIF
(MPCBMTUBS
4ZTUFN
PS
UP
VUJMJ[F
EFTJHOBUFE
SBEJP
GSFRVFODZ
TQFDUSVN
UP
QSPWJEF
UFSSFTUSJBM
XJSFMFTT DPNNVOJDBUJPO
TFSWJDFT
JO
B
QBSUJDVMBS
SFHJPO
PG
UIF
XPSME
8IJMF
MJDFOTFT
BSF
JTTVFE
GPS
POMZ
B
GJYFE
UJNF
TVDI
MJDFOTFT
BSF
TVCKFDU UP
SFOFXBM
CZ
UIF
'FEFSBM
$PNNVOJDBUJPOT
$PNNJTTJPO
'$$
PS
FRVJWBMFOU
JOUFSOBUJPOBM
SFHVMBUPSZ
BVUIPSJUJFT
5IFTF
MJDFOTF SFOFXBMT
BSF
FYQFDUFE
UP
PDDVS
SPVUJOFMZ
BOE
BU
OPNJOBM
DPTU
.PSFPWFS
UIF
$PNQBOZ
IBT
EFUFSNJOFE
UIBU
UIFSF
BSF
DVSSFOUMZ
OP MFHBM
SFHVMBUPSZ
DPOUSBDUVBM
DPNQFUJUJWF
FDPOPNJD
PS
PUIFS
GBDUPST
UIBU
MJNJU
UIF
VTFGVM
MJGF
PG
JUT
XJSFMFTT
MJDFOTFT
"T
B
SFTVMU UIF
$PNQBOZ
USFBUT
UIF
XJSFMFTT
MJDFOTFT
BT
BO
JOEFGJOJUFMJWFE
JOUBOHJCMF
BTTFU
5IF
$PNQBOZ
SFFWBMVBUFT
UIF
VTFGVM
MJGF EFUFSNJOBUJPO
GPS
XJSFMFTT
MJDFOTFT
BOOVBMMZ
PS
NPSF
GSFRVFOUMZ
JG
OFFEFE
UP
EFUFSNJOF
XIFUIFS
FWFOUT
BOE
DJSDVNTUBODFT
DPOUJOVF UP
TVQQPSU
BO
JOEFGJOJUF
VTFGVM
MJGF

*OUBOHJCMF
"TTFUT
4VCKFDU
UP
"NPSUJ[BUJPO

0VS
JOUBOHJCMF
BTTFUT
UIBU
EP
OPU
IBWF
JOEFGJOJUF
MJWFT
QSJNBSJMZ
EFWFMPQFE
UFDIOPMPHZ
BOE
DVTUPNFS
SFMBUJPOTIJQT
BSF
BNPSUJ[FE PWFS
UIFJS
FTUJNBUFE
VTFGVM
MJWFT
'PS
JOGPSNBUJPO
SFMBUFE
UP
FBDI
NBKPS
DMBTTFT
PG
JOUBOHJCMF
BTTFUT
JODMVEJOH
BDDVNVMBUFE BNPSUJ[BUJPO
BOE
FTUJNBUFE
BWFSBHF
VTFGVM
MJWFT
TFF
/PUF

*OUBOHJCMF
BOE
0UIFS
"TTFUT

 0UIFS
"TTFUT

1SFQBJE
-JDFOTFT
BOE
3PZBMUJFT

5IF
$PNQBOZ
IBT
TJHOFE
WBSJPVT
MJDFOTJOH
BOE
SPZBMUZ
BHSFFNFOUT
OFDFTTBSZ
GPS
UIF
NBOVGBDUVSF
BOE
EJTUSJCVUJPO
PG
JUT
TFDPOE HFOFSBUJPO
QSPEVDUT
"NPVOUT
UIBU
BSF
QSFQBJE
BSF
SFDPSEFE
QSJNBSJMZ
JO
OPODVSSFOU
BTTFUT
PO
UIF
$PNQBOZT
DPOTPMJEBUFE
CBMBODF TIFFU
5IF
$PNQBOZ
FTUJNBUFT
UIF
QPSUJPO
PG
FYQFOTF
JODVSSFE
PS
SPZBMUJFT
FBSOFE
GPS
UIF
OFYU

NPOUIT
BOE
SFDMBTTJGJFT
UIFTF BNPVOUT
UP
DVSSFOU
BTTFUT
PO
UIF
$PNQBOZT
DPOTPMJEBUFE
CBMBODF
TIFFU
FBDI
SFQPSUJOH
QFSJPE
5IF
$PNQBOZ
XJMM
FYQFOTF
UIFTF BNPVOUT
UISPVHI
EFQSFDJBUJPO
FYQFOTF
PWFS
UIF
MJGF
PG
UIF
HBUFXBZ
NBJOUFOBODF
FYQFOTF
PWFS
UIF
UFSN
PG
UIF
TFSWJDFT
PS
DPTU
PG HPPET
TPME
PO
B
QFS
VOJU
CBTJT
BT
UIFTF
VOJUT
BSF
NBOVGBDUVSFE
TPME
PS
BDUJWBUFE

#VTJOFTT
&DPOPNJD
-PTT
$MBJN
3FDFJWBCMF

*O
BDDPSEBODF
XJUI
"4$

UIF
$PNQBOZ
CFMJFWFT
UIBU
UIF
SFDPHOJUJPO
PG
B
HBJO
JT
BQQSPQSJBUF
BU
UIF
FBSMJFS
PG
XIFO
UIF
HBJO JT
SFBMJ[BCMF
PS
SFBMJ[FE
"
SFBMJ[FE
HBJO
JT
POF
XIFSF
DBTI
PS
PUIFS
BTTFUT
TVDI
BT
DMBJNT
UP
DBTI
IBT
BMSFBEZ
CFFO
SFDFJWFE XJUIPVU
FYQFDUBUJPO
PG
SFQBZNFOU
"
HBJO
JT
SFBMJ[BCMF
XIFO
BTTFUT
BSF
SFBEJMZ
DPOWFSUJCMF
UP
LOPXO
BNPVOUT
PG
DBTI
PS
DMBJNT
UP DBTI
*O
.BZ

UIF
$PNQBOZ
FOUFSFE
JOUP
B
TFUUMFNFOU
BHSFFNFOU
SFMBUFE
B
CVTJOFTT
FDPOPNJD
MPTT
DMBJN
"T
QBSU
PG
UIF $PNQBOZT
BTTFTTNFOU
JU
DPOTJEFSFE
UIBU
UIF
UFSNT
PG
UIF
TFUUMFNFOU
BHSFFNFOU
BSF
GJOBM
FH
OPU
TVCKFDU
UP
BQQFBM
BOE
UIF DPVOUFSQBSUZ
IBT
UIF
BCJMJUZ
UP
QBZ
UIF
BNPVOU
5IFSFGPSF
UIF
$PNQBOZ
SFDPSEFE
B
SFDFJWBCMF
BOE
OPOPQFSBUJOH
JODPNF
GPS
UIF BNPVOU
PG
UIF
TFUUMFNFOU
5IF
$PNQBOZ
JNQVUFE
JOUFSFTU
PO
UIJT
SFDFJWBCMF
JO
BDDPSEBODF
XJUI
"4$

BT
JU
SFQSFTFOUT B
DPOUSBDUVBM
SJHIU
UP
SFDFJWF
NPOFZ
PO
GJYFE
PS
EFUFSNJOBCMF
EBUFT
5IF
EJGGFSFODF
CFUXFFO
UIF
QSFTFOU
WBMVF
BOE
UIF
GBDF
BNPVOU XBT
USFBUFE
BT
B
EJTDPVOU
BOE
JT
CFJOH
BNPSUJ[FE
BT
JOUFSFTU
JODPNF
PWFS
UIF
MJGF
PG
UIF
DMBJN
VTJOH
UIF
JOUFSFTU
NFUIPE
4FF
/PUF 
$POUJOHFODJFT
GPS
GVSUIFS
EJTDVTTJPO

$PTUT
UP
0CUBJO
B
$POUSBDU

5IF
$PNQBOZ
BMTP
DBQJUBMJ[FT
DPTUT
UP
PCUBJO
B
DPOUSBDU
XIJDI
JODMVEF
DFSUBJO
EFGFSSFE
TVCTDSJCFS
BDRVJTJUJPO
DPTUT
XIJDI
BSF BNPSUJ[FE
DPOTJTUFOUMZ
XJUI
UIF
QBUUFSO
PG
USBOTGFS
PG
UIF
HPPE
PS
EFMJWFSZ
PG
UIF
TFSWJDF
UP
XIJDI
UIF
BTTFU
SFMBUFT
8IFO
B
DPOUSBDU UFSNJOBUFT
QSJPS
UP
UIF
FOE
PG
JUT
FYQFDUFE
MJGF
UIF
SFNBJOJOH
EFGFSSFE
DPTUT
BTTFU
BTTPDJBUFE
XJUI
JU
CFDPNFT
JNQBJSFE
"O
JNNFEJBUF SFDPHOJUJPO
PG
FYQFOTF
GPS
JOEJWJEVBM
SFNBJOJOH
DPTUT
UP
PCUBJO
B
DPOUSBDU
GPMMPXJOH
EFBDUJWBUJPO
JT
OPU
QSBDUJDBCMF
#FDBVTF
FBSMZ UFSNJOBUJPOT
BSF
GBDUPSFE
JOUP
UIF
EFUFSNJOBUJPO
PG
UIF
FYQFDUFE
DVTUPNFS
MJGF
BOE
UIFSFGPSF
BGGFDU
UIF
BNPSUJ[BUJPO
QFSJPE
UIF $PNQBOZ
EPFT
OPU
SFDPHOJ[F
FBSMZ
UFSNJOBUJPO
FYQFOTF
PO
JOEJWJEVBM
BTTFUT
CFDBVTF
UIF
JODSFNFOUBM
FGGFDU
XPVME
CF
JNNBUFSJBM BOE
EPJOH
TP
XPVME
CF
JNQSBDUJDBM

*NQBJSNFOU
PG
*OUBOHJCMF
BOE
0UIFS
"TTFUT

5IF
$PNQBOZ
BTTFTTFT
UIFTF
JOUBOHJCMF
BTTFUT
GPS
JNQBJSNFOU
BOOVBMMZ
PS
NPSF
GSFRVFOUMZ
JG
FWFOUT
PS
DIBOHFT
JO
DJSDVNTUBODFT JOEJDBUF
UIBU
JU
JT
NPSF
MJLFMZ
UIBO
OPU
UIBU
UIF
BTTFU
JT
JNQBJSFE
*O
BTTFTTJOH
XIFUIFS
JU
JT
NPSF
MJLFMZ
UIBO
OPU
UIBU
TVDI
BO
BTTFU JT
JNQBJSFE
UIF
$PNQBOZ
BTTFTTFT
SFMFWBOU
FWFOUT
BOE
DJSDVNTUBODFT
UIBU
DPVME
BGGFDU
UIF
TJHOJGJDBOU
JOQVUT
VTFE
UP
EFUFSNJOF
UIF GBJS
WBMVF
PG
UIF
BTTFU
*G
UIF
$PNQBOZ
EFUFSNJOFT
UIBU
BO
JNQBJSNFOU
FYJTUT
BOZ
SFMBUFE
MPTT
JT
FTUJNBUFE
CBTFE
PO
GBJS
WBMVFT

3FDFOUMZ
*TTVFE
"DDPVOUJOH
1SPOPVODFNFOUT

*O
"VHVTU

UIF
'JOBODJBM
"DDPVOUJOH
4UBOEBSET
#PBSE
'"4#
JTTVFE
"DDPVOUJOH
4UBOEBSET
6QEBUF
"46
/P 
$PNQFOTBUJPO

3FUJSFNFOU
#FOFGJUT

%FGJOFE
#FOFGJU
1MBOT

(FOFSBM
%JTDMPTVSF
'SBNFXPSL

$IBOHFT
UP
UIF
%JTDMPTVSF 3FRVJSFNFOUT
GPS
%FGJOFE
#FOFGJU
1MBOT
"T
QBSU
PG
UIF
'"4#T
EJTDMPTVSF
GSBNFXPSL
QSPKFDU
JU
IBT
DIBOHFE
UIF
EJTDMPTVSF SFRVJSFNFOUT
GPS
EFGJOFE
QFOTJPO
BOE
PUIFS
QPTUSFUJSFNFOU
CFOFGJU
QMBOT
5IF
'"4#
FMJNJOBUFE
EJTDMPTVSF
SFRVJSFNFOUT
SFMBUFE UP
UIF
BNPVOUT
JO
BDDVNVMBUFE
PUIFS
DPNQSFIFOTJWF
JODPNF
FYQFDUFE
UP
CF
SFDPHOJ[FE
BT
DPNQPOFOUT
PG
OFU
QFSJPEJD
CFOFGJU
DPTU PWFS
UIF
OFYU
GJTDBM
ZFBS
UIF
BNPVOU
BOE
UJNJOH
PG
QMBO
BTTFUT
FYQFDUFE
UP
CF
SFUVSOFE
UP
UIF
FNQMPZFS
JG
BOZ
JOGPSNBUJPO
SFMBUFE UP
+BQBOFTF
8FMGBSF
1FOTJPO
*OTVSBODF
-BX
JOGPSNBUJPO
BCPVU
UIF
BNPVOU
PG
GVUVSF
BOOVBM
CFOFGJUT
DPWFSFE
CZ
JOTVSBODF
DPOUSBDUT BOE
TJHOJGJDBOU
USBOTBDUJPOT
CFUXFFO
UIF
FNQMPZFS
PS
SFMBUFE
QBSUJFT
BOE
UIF
QMBO
BOE
UIF
EJTDMPTVSF
PG
UIF
FGGFDUT
PG
B
POF QFSDFOUBHFQPJOU
DIBOHF
JO
UIF
BTTVNFE
IFBMUI
DBSF
DPTU
USFOE
SBUFT
PO
UIF

BHHSFHBUF
PG
UIF
TFSWJDF
BOE
JOUFSFTU
DPTU
DPNQPOFOUT PG
OFU
QFSJPEJD
CFOFGJU
DPTUT
BOE
UIF

CFOFGJU
PCMJHBUJPO
GPS
QPTUSFUJSFNFOU
IFBMUI
DBSF
CFOFGJUT
&OUJUJFT
XJMM
CF
SFRVJSFE
UP EJTDMPTF
UIF
XFJHIUFEBWFSBHF
JOUFSFTU
DSFEJUJOH
SBUF
GPS
DBTI
CBMBODF
QMBOT
BOE
PUIFS
QMBOT
XJUI
QSPNJTFE
JOUFSFTU
DSFEJUJOH
SBUFT BT
XFMM
BT
BO
FYQMBOBUJPO
PG
UIF
SFBTPOT
GPS
TJHOJGJDBOU
HBJOT
BOE
MPTTFT
SFMBUFE
UP
DIBOHFT
JO
UIF
CFOFGJU
PCMJHBUJPO
GPS
UIF
QFSJPE 5IJT
"46
JT
FGGFDUJWF
GPS
QVCMJD
FOUJUJFT
GPS
BOOVBM
QFSJPET
CFHJOOJOH
BGUFS
%FDFNCFS


&BSMZ
BEPQUJPO
JT
QFSNJUUFE
BT
PG UIF
CFHJOOJOH
PG
BOZ
BOOVBM
SFQPSUJOH
QFSJPE
5IJT
"46
XJMM
IBWF
BO
JNQBDU
PO
UIF
$PNQBOZT
EJTDMPTVSFT

 3FDFOUMZ
*TTVFE
BOE
*NQMFNFOUFE
'JOBODJBM
3FQPSUJOH
3VMFT

*O
"QSJM

UIF
4&$
BEPQUFE
UIF
GJOBM
SVMFT
VOEFS
4&$
3FMFBTFT

BOE

'"45
"DU
.PEFSOJ[BUJPO
BOE 4JNQMJGJDBUJPO
PG
3FHVMBUJPO
4,
"NPOH
PUIFS
UIJOHT
UIF
BNFOENFOUT

BMMPX
SFHJTUSBOUT
XIP
QSFTFOU
GJOBODJBM
TUBUFNFOUT DPWFSJOH
UISFF
ZFBST
JO
UIFJS
QFSJPEJD
SFQPSUT
UP
PNJU
EJTDVTTJPO
PG
UIF
FBSMJFTU
ZFBS
GSPN
NBOBHFNFOUT
EJTDVTTJPO
BOE
BOBMZTJT
JG UIF
EJTDVTTJPO
XBT
JODMVEFE
JO
B
QSJPS
GJMJOH

BMMPX
SFHJTUSBOUT
UP
PNJU
DFSUBJO
JOGPSNBUJPO
BOE
FYIJCJUT
GSPN
UIFJS
QFSJPEJD
SFQPSUT XJUIPVU
TVCNJUUJOH
DPOGJEFOUJBM
USFBUNFOU
SFRVFTUT
UP
UIF
$PNNJTTJPO

DMBSJGZ
BOE
TUSFBNMJOF
DFSUBJO
SJTL
GBDUPS
BOE
QSPQFSUZ EJTDMPTVSF
SFRVJSFNFOUT

SFRVJSF
BMM
GJMJOHT
UP
JODMVEF
IZQFSMJOLT
UP
JOGPSNBUJPO
UIBU
JT
JODPSQPSBUFE
CZ
SFGFSFODF
JO
DVSSFOU GJMJOHT
UP
UIF
JOGPSNBUJPO
BWBJMBCMF
PO
&%("3
BT
BQQMJDBCMF
BOE

SFRVJSF
SFHJTUSBOUT
UP
BQQMZ
9#3-
UBHT
UP
DFSUBJO
JOGPSNBUJPO PO
DPWFS
QBHFT
PG
4&$
GJMJOHT
$FSUBJO
PG
UIF
BNFOEFE
SVMFT
CFDBNF
FGGFDUJWF
"QSJM


PS
.BZ


BOE
IBWF
CFFO
BQQMJFE UP
BOZ
GJMJOHT
BGUFS
UIFTF
EBUFT
FYDFQU
GPS
UIF
9#3-
UBHHJOH
SFRVJSFNFOU
XIJDI
JT
FGGFDUJWF
GPS
BDDFMFSBUFE
GJMFST
GPS
GJTDBM
SFQPSUT FOEJOH
PO
PS
BGUFS
+VOF


5IFTF
GJOBM
SVMFT
EJE
OPU
PS
XJMM
OPU
IBWF
B
NBUFSJBM
JNQBDU
PO
JUT
EJTDMPTVSFT
BOE
GJOBODJBM TUBUFNFOUT

3FDFOUMZ
"EPQUFE
"DDPVOUJOH
1SPOPVODFNFOUT

*O
'FCSVBSZ

UIF
'"4#
JTTVFE
"46
/P

-FBTFT
"46

BNFOEFE
UIF
'"4#
"DDPVOUJOH
4UBOEBSET $PEJGJDBUJPO
a"4$b
BOE
DSFBUFE
B
OFX
"4$
5PQJD

a-FBTFTb
a"4$
b 
5IJT
"46
CFDBNF
FGGFDUJWF
GPS
QVCMJD
CVTJOFTT FOUJUJFT
JO
GJTDBM
ZFBST
BOE
JOUFSJN
QFSJPET
XJUIJO
UIPTF
GJTDBM
ZFBST
CFHJOOJOH
BGUFS
%FDFNCFS


5IF
$PNQBOZ
BEPQUFE UIJT
TUBOEBSE
XIFO
JU
CFDBNF
FGGFDUJWF
PO
+BOVBSZ


4FF
/PUF

-FBTFT
GPS
GVSUIFS
EJTDVTTJPO
JODMVEJOH
UIF
JNQBDU
PO
UIF $PNQBOZT
DPOEFOTFE
DPOTPMJEBUFE
GJOBODJBM
TUBUFNFOUT
BOE
SFRVJSFE
EJTDMPTVSFT

*O
+VOF

UIF
'"4#
JTTVFE
"46
/P

$SFEJU
-PTTFT
.FBTVSFNFOU
PG
$SFEJU
-PTTFT
PO
'JOBODJBM
*OTUSVNFOUT "46
/P

BT
BNFOEFE
TJHOJGJDBOUMZ
DIBOHFT
IPX
FOUJUJFT
XJMM
NFBTVSF
DSFEJU
MPTTFT
GPS
NPTU
GJOBODJBM
BTTFUT
BOE
DFSUBJO PUIFS
JOTUSVNFOUT
UIBU
BSF
OPU
NFBTVSFE
BU
GBJS
WBMVF
UISPVHI
OFU
JODPNF
5IF
TUBOEBSE
XJMM
SFQMBDF
UPEBZgT
JODVSSFE
MPTT
BQQSPBDI XJUI
BO
FYQFDUFE
MPTT
NPEFM
GPS
JOTUSVNFOUT
NFBTVSFE
BU
BNPSUJ[FE
DPTU
&OUJUJFT
XJMM
BQQMZ
UIF
TUBOEBSEgT
QSPWJTJPOT
BT
B DVNVMBUJWFFGGFDU
BEKVTUNFOU
UP
SFUBJOFE
FBSOJOHT
BT
PG
UIF
CFHJOOJOH
PG
UIF
GJSTU
SFQPSUJOH
QFSJPE
JO
XIJDI
UIF
HVJEBODF
JT
FGGFDUJWF 5IJT
"46
CFDBNF
FGGFDUJWF
GPS
QVCMJD
FOUJUJFT
GPS
BOOVBM
BOE
JOUFSJN
QFSJPET
CFHJOOJOH
BGUFS
%FDFNCFS


5IF
$PNQBOZ BEPQUFE
UIJT
TUBOEBSE
PO
+BOVBSZ


5IF
BEPQUJPO
PG
UIJT
TUBOEBSE
EJE
OPU
IBWF
B
NBUFSJBM
JNQBDU
PO
UIF
$PNQBOZT
DPOTPMJEBUFE GJOBODJBM
TUBUFNFOUT
BOE
XJMM
JNQBDU
DFSUBJO
PG
UIF
$PNQBOZT
SFMBUFE
EJTDMPTVSFT
JO
GVUVSF
GJMJOHT

*O
'FCSVBSZ

UIF
'"4#
JTTVFE
"46
/P

3FDMBTTJGJDBUJPO
PG
$FSUBJO
5BY
&GGFDUT
GSPN
"DDVNVMBUFE
0UIFS $PNQSFIFOTJWF
*ODPNF
5IJT
HVJEBODF
BMMPXT
DPNQBOJFT
UP
SFDMBTTJGZ
JUFNT
JO
BDDVNVMBUFE
PUIFS
DPNQSFIFOTJWF
JODPNF
UP SFUBJOFE
FBSOJOHT
GPS
TUSBOEFE
UBY
FGGFDUT
SFTVMUJOH
GSPN
UIF
)3
a"O
"DU
UP
1SPWJEF
GPS
3FDPODJMJBUJPO
1VSTVBOU
UP
5JUMFT
**
BOE 7
PG
UIF
$PODVSSFOU
3FTPMVUJPO
PO
UIF
#VEHFU
GPS
'JTDBM
:FBS
b
UIF
a5BY
"DUb
QSFWJPVTMZ
LOPXO
BT
a5IF
5BY
$VUT
BOE +PCT
"DUb 
5IJT
"46
JT
FGGFDUJWF
GPS
BMM
FOUJUJFT
GPS
BOOVBM
BOE
JOUFSJN
QFSJPET
CFHJOOJOH
BGUFS
%FDFNCFS


5IF
$PNQBOZ BEPQUFE
UIJT
TUBOEBSE
PO
+BOVBSZ


5IF
BEPQUJPO
PG
UIJT
TUBOEBSE
EJE
OPU
IBWF
B
NBUFSJBM
FGGFDU
PO
UIF
$PNQBOZT
GJOBODJBM TUBUFNFOUT
PS
SFMBUFE
EJTDMPTVSFT

*O
+VOF

UIF
'"4#
JTTVFE
"46
/P

$PNQFOTBUJPO

4UPDL
$PNQFOTBUJPO
*NQSPWFNFOUT
UP
/POFNQMPZFF
4IBSF #BTFE
1BZNFOU
"DDPVOUJOH
"46

BMJHOT
UIF
BDDPVOUJOH
GPS
TIBSFCBTFE
QBZNFOU
BXBSET
JTTVFE
UP
FNQMPZFFT
BOE OPOFNQMPZFFT
.FBTVSFNFOU
PG
FRVJUZDMBTTJGJFE
OPOFNQMPZFF
BXBSET
XJMM
OPX
CF
WBMVFE
PO
UIF
HSBOU
EBUF
BOE
XJMM
OP
MPOHFS CF
SFNFBTVSFE
UISPVHI
UIF
QFSGPSNBODF
DPNQMFUJPO
EBUF
5IJT
BNFOENFOU
BMTP
DIBOHFT
UIF
BDDPVOUJOH
GPS
OPOFNQMPZFF
BXBSET XJUI
QFSGPSNBODF
DPOEJUJPOT
UP
SFDPHOJ[F
DPNQFOTBUJPO
DPTU
XIFO
BDIJFWFNFOU
PG
UIF
QFSGPSNBODF
DPOEJUJPO
JT
QSPCBCMF
SBUIFS UIBO
VQPO
BDIJFWFNFOU
PG
UIF
QFSGPSNBODF
DPOEJUJPO
BT
XFMM
BT
FMJNJOBUJOH
UIF
SFRVJSFNFOU
UP
SFBTTFTT
UIF
FRVJUZ
PS
MJBCJMJUZ DMBTTJGJDBUJPO
GPS
OPOFNQMPZFF
BXBSET
VQPO
WFTUJOH
FYDFQU
GPS
DFSUBJO
BXBSE
UZQFT
5IJT
"46
JT
FGGFDUJWF
GPS
QVCMJD
FOUJUJFT
GPS BOOVBM
BOE
JOUFSJN
QFSJPET
CFHJOOJOH
BGUFS
%FDFNCFS


5IF
$PNQBOZ
BEPQUFE
UIJT
TUBOEBSE
PO
+BOVBSZ


5IF BEPQUJPO
PG
UIJT
TUBOEBSE
EJE
OPU
IBWF
B
NBUFSJBM
FGGFDU
PO
UIF
$PNQBOZT
GJOBODJBM
TUBUFNFOUT
PS
SFMBUFE
EJTDMPTVSFT

*O
"VHVTU

UIF
'"4#
JTTVFE
"46
/P

'BJS
7BMVF
.FBTVSFNFOU
%JTDMPTVSF
'SBNFXPSL

$IBOHFT
UP
UIF %JTDMPTVSF
3FRVJSFNFOUT
GPS
'BJS
7BMVF
.FBTVSFNFOU
"T
QBSU
PG
UIF
'"4#T
EJTDMPTVSF
GSBNFXPSL
QSPKFDU
JU
IBT
FMJNJOBUFE BNFOEFE
BOE
BEEFE
EJTDMPTVSF
SFRVJSFNFOUT
GPS
GBJS
WBMVF
NFBTVSFNFOUT
&OUJUJFT
XJMM
OP
MPOHFS
CF
SFRVJSFE
UP
EJTDMPTF
UIF
BNPVOU PG
BOE
SFBTPOT
GPS
USBOTGFST
CFUXFFO
-FWFM

BOE
-FWFM

PG
UIF
GBJS
WBMVF
IJFSBSDIZ
UIF
QPMJDZ
PG
UJNJOH
PG
USBOTGFST
CFUXFFO MFWFMT
PG
UIF
GBJS
WBMVF
IJFSBSDIZ
BOE
UIF
WBMVBUJPO
QSPDFTTFT
GPS
-FWFM

GBJS
WBMVF
NFBTVSFNFOUT
1VCMJD
DPNQBOJFT
XJMM
CF SFRVJSFE
UP
EJTDMPTF
UIF
SBOHF
BOE
XFJHIUFE
BWFSBHF
VTFE
UP
EFWFMPQ
TJHOJGJDBOU
VOPCTFSWBCMF
JOQVUT
GPS
-FWFM

GBJS
WBMVF NFBTVSFNFOUT
5IJT
"46
CFDBNF
FGGFDUJWF
GPS
QVCMJD
FOUJUJFT
GPS
BOOVBM
BOE
JOUFSJN
QFSJPET
CFHJOOJOH
BGUFS
%FDFNCFS

 5IF
$PNQBOZ
BEPQUFE
UIJT
TUBOEBSE
PO
+BOVBSZ


5IF
BEPQUJPO
PG
UIJT
TUBOEBSE
XJMM
JNQBDU
DFSUBJO
PG
UIF
$PNQBOZT EJTDMPTVSFT
JO
GVUVSF
GJMJOHT

 *O
"VHVTU

UIF
'"4#
JTTVFE
"46
/P

*OUBOHJCMFT

(PPEXJMM
BOE
0UIFS

*OUFSOBM6TF
4PGUXBSF
$VTUPNFSaT "DDPVOUJOH
GPS
*NQMFNFOUBUJPO
$PTUT
*ODVSSFE
JO
B
$MPVE
$PNQVUJOH
"SSBOHFNFOU
5IBU
*T
B
4FSWJDF
$POUSBDU
5IJT
"46
SFRVJSFT DPNQBOJFT
UP
EFGFS
TQFDJGJFE
JNQMFNFOUBUJPO
DPTUT
JO
B
DMPVE
DPNQVUJOH
BSSBOHFNFOU
UIBU
BSF
PGUFO
FYQFOTFE
VOEFS
DVSSFOU
64 (""1
BOE
SFDPHOJ[F
UIFTF
DPTUT
UP
FYQFOTF
PWFS
UIF
OPODBODFMMBCMF
UFSN
PG
UIF
BSSBOHFNFOU
5IJT
"46
CFDBNF
FGGFDUJWF
GPS QVCMJD
FOUJUJFT
GPS
BOOVBM
BOE
JOUFSJN
QFSJPET
CFHJOOJOH
BGUFS
%FDFNCFS


5IF
$PNQBOZ
BEPQUFE
UIJT
TUBOEBSE
PO
+BOVBSZ 

5IF
BEPQUJPO
PG
UIJT
TUBOEBSE
EJE
OPU
IBWF
B
NBUFSJBM
JNQBDU
PO
UIF
$PNQBOZT
DPOTPMJEBUFE
GJOBODJBM
TUBUFNFOUT


3&7&/6&

%JTBHHSFHBUJPO
PG
3FWFOVF

5IF
GPMMPXJOH
UBCMF
EJTDMPTFT
SFWFOVF
EJTBHHSFHBUFE
CZ
UZQF
PG
QSPEVDU
BOE
TFSWJDF
BNPVOUT
JO
UIPVTBOET 

:FBS
&OEFE %FDFNCFS

 %FDFNCFS

 %FDFNCFS

 4FSWJDF
SFWFOVF %VQMFY          4105       $PNNFSDJBM
*P5       *(0     0UIFS       5PUBM
TFSWJDF
SFWFOVF      

4VCTDSJCFS
FRVJQNFOU
TBMFT %VQMFY          4105       $PNNFSDJBM
*P5       0UIFS    5PUBM
TVCTDSJCFS
FRVJQNFOU
TBMFT      

5PUBM
SFWFOVF         


&GGFDUJWF
+BOVBSZ


UIF
$PNQBOZ
BEPQUFE
"DDPVOUJOH
4UBOEBSET
$PEJGJDBUJPO
"4$
5PQJD

a3FWFOVF
GSPN $POUSBDUT
XJUI
$VTUPNFSTb
a"4$
b 
5IJT
TUBOEBSE
XBT
BEPQUFE
VTJOH
UIF
NPEJGJFE
SFUSPTQFDUJWF
NFUIPE
BOE
BT
TVDI

BNPVOUT SFGMFDUFE
JO
UIF
UBCMF
GPS
UIF
ZFBS
FOEFE
%FDFNCFS


IBWF
OPU
CFFO
BEKVTUFE

 5IF
$PNQBOZ
BUUSJCVUFT
FRVJQNFOU
SFWFOVF
UP
WBSJPVT
DPVOUSJFT
CBTFE
PO
UIF
MPDBUJPO
XIFSF
FRVJQNFOU
JT
TPME
4FSWJDF SFWFOVF
JT
HFOFSBMMZ
BUUSJCVUFE
UP
UIF
WBSJPVT
DPVOUSJFT
CBTFE
PO
UIF
(MPCBMTUBS
FOUJUZ
UIBU
IPMET
UIF
DVTUPNFS
DPOUSBDU
5IF
GPMMPXJOH UBCMF
EJTDMPTFT
SFWFOVF
EJTBHHSFHBUFE
CZ
HFPHSBQIJDBM
NBSLFU
BNPVOUT
JO
UIPVTBOET 

:FBS
&OEFE %FDFNCFS

 %FDFNCFS

 %FDFNCFS


 4FSWJDF
SFWFOVF 6OJUFE
4UBUFT          $BOBEB       &VSPQF       $FOUSBM
BOE
4PVUI
"NFSJDB       0UIFST    5PUBM
TFSWJDF
SFWFOVF      

4VCTDSJCFS
FRVJQNFOU
TBMFT 6OJUFE
4UBUFT          $BOBEB       &VSPQF       $FOUSBM
BOE
4PVUI
"NFSJDB       0UIFST    5PUBM
TVCTDSJCFS
FRVJQNFOU
TBMFT      

5PUBM
SFWFOVF         


&GGFDUJWF
+BOVBSZ


UIF
$PNQBOZ
BEPQUFE
"DDPVOUJOH
4UBOEBSET
$PEJGJDBUJPO
"4$
5PQJD

a3FWFOVF
GSPN $POUSBDUT
XJUI
$VTUPNFSTb
a"4$
b 
5IJT
TUBOEBSE
XBT
BEPQUFE
VTJOH
UIF
NPEJGJFE
SFUSPTQFDUJWF
NFUIPE
BOE
BT
TVDI

BNPVOUT SFGMFDUFE
JO
UIF
UBCMF
GPS
UIF
ZFBS
FOEFE
%FDFNCFS


IBWF
OPU
CFFO
BEKVTUFE

%VSJOH
UIF
UIJSE
RVBSUFS
PG

UIF
$PNQBOZ
DIBOHFE
JUT
DBMDVMBUJPO
PG
UIF
FTUJNBUFE
JNQBDU
GSPN
UIF
JOJUJBM
BEPQUJPO
PG "4$

PO
+BOVBSZ


*O
BDDPSEBODF
XJUI
"4$

UIF
$PNQBOZ
BDDSVFT
DPOUSBDU
CSFBLBHF
UP
SFWFOVF
CBTFE
PO
IJTUPSJDBM VTBHF
QBUUFSOT
5IF
PSJHJOBM
DBMDVMBUJPO
PG
UIF
BEPQUJPO
JNQBDU
EJE
OPU
SFEVDF
EFGFSSFE
SFWFOVF
BOE
SFUBJOFE
EFGJDJU
FOPVHI
GPS SFWFOVF
UIBU
XPVME
IBWF
CFFO
SFDPHOJ[FE
VOEFS
"4$

GPS
DPOUSBDUT
UIBU
XFSF
PQFO
BU
UIF
BEPQUJPO
EBUF
5IJT
BEKVTUNFOU
XBT JNNBUFSJBM
UP
UIF
$PNQBOZgT
GJOBODJBM
TUBUFNFOUT
GPS
FBDI
QFSJPE
TJODF
+BOVBSZ


"DDPSEJOHMZ
UIF
$PNQBOZ
SFDPSEFE
B DVNVMBUJWF
BEKVTUNFOU
UP
JODSFBTF
TFSWJDF
SFWFOVF
EVSJOH
UIF
UIJSE
RVBSUFS
PG

UIJT
BEKVTUNFOU
JODMVEFE
BO
PVUPGQFSJPE BNPVOU
PG

NJMMJPO

$POUSBDU
#BMBODFT

5IF
GPMMPXJOH
UBCMF
EJTDMPTFT
JOGPSNBUJPO
BCPVU
BDDPVOUT
SFDFJWBCMF
DPTUT
UP
PCUBJO
B
DPOUSBDU
BT
SFDPSEFE
JO
JOUBOHJCMF
BOE PUIFS
BTTFUT
OFU
PO
UIF
$PNQBOZT
DPOTPMJEBUFE
CBMBODF
TIFFU
BOE
DPOUSBDU
MJBCJMJUJFT
BT
SFDPSEFE
JO
CPUI
DVSSFOU
BOE
MPOHUFSN EFGFSSFE
SFWFOVF
PO
UIF
$PNQBOZT
DPOTPMJEBUFE
CBMBODF
TIFFU
GSPN
DPOUSBDUT
XJUI
DVTUPNFST
BNPVOUT
JO
UIPVTBOET 

%FDFNCFS

 %FDFNCFS

 "DDPVOUT
SFDFJWBCMF       $BQJUBMJ[FE
DPTUT
UP
PCUBJO
B
DPOUSBDU     $POUSBDU
MJBCJMJUJFT    

"DDPVOUT
3FDFJWBCMF

*ODMVEFE
JO
UIF
BDDPVOUT
SFDFJWBCMF
CBMBODF
JO
UIF
UBCMF
BCPWF
BSF
DPOUSBDU
BTTFUT
XIJDI
SFQSFTFOU
QSJNBSJMZ
VOCJMMFE
BNPVOUT SFMBUFE
UP
QFSGPSNBODF
PCMJHBUJPOT
TBUJTGJFE
CZ
UIF
$PNQBOZ
PG

NJMMJPO
BOE

NJMMJPO
BT
PG
%FDFNCFS


BOE
 SFTQFDUJWFMZ
5IF
JODSFBTF
JO
UIJT
CBMBODF
JT
QSJNBSJMZ
BUUSJCVUBCMF
UP
UIF
UJNJOH
BOE
IJHIFS
WPMVNF
PG
TBMFT
UP
POF
PG
PVS
$PNNFSDJBM *P5
WBMVFBEEFESFTFMMFST
7"3 
5IF
$PNQBOZ
SFDPHOJ[FT
UIF
SFWFOVF
GPS
QFSGPSNBODF
PCMJHBUJPOT
JO
UIF
QFSJPE
UIFZ
BSF TBUJTGJFE
BOE
UIFO
CJMMT
UIJT
7"3
GPS
CPUI
IBSEXBSF
BOE
TFSWJDF
PO
B
NPOUIMZ
CBTJT
PWFS
UIF
TVCTFRVFOU
UXFMWFNPOUI
QFSJPE

 5IF
$PNQBOZ
IBT
BHSFFNFOUT
XJUI
DFSUBJO
PG
JUT
*(0T
XIFSFCZ
UIF
QBSUJFT
OFU
TFUUMF
PVUTUBOEJOH
QBZBCMFT
BOE
SFDFJWBCMFT CFUXFFO
UIF
SFTQFDUJWF
FOUJUJFT
PO
B
QFSJPEJD
CBTJT
"T
PG
%FDFNCFS


BOE


NJMMJPO
BOE

NJMMJPO
SFTQFDUJWFMZ SFMBUFE
UP
UIFTF
BHSFFNFOUT
XBT
JODMVEFE
JO
BDDPVOUT
SFDFJWBCMF
PO
UIF
$PNQBOZgT
DPOTPMJEBUFE
CBMBODF
TIFFU
5IF
SFEVDUJPO
JO UIJT
BDDPVOUT
SFDFJWBCMF
CBMBODF
GSPN
%FDFNCFS


SFTVMUFE
QSJNBSJMZ
GSPN
UIF
XSJUFPGG
PG
UIF
SFDFJWBCMF
EVF
GSPN
UIF $PNQBOZT
.FYJDBO
*(0
QBSUOFS
GPMMPXJOH
UIBU
HBUFXBZ
CFJOH
TIVU
EPXO
EVSJOH

BOE
UIF
TFUUMFNFOU
PG
UIF
SFDFJWBCMF
EVF GSPN
UIF
"SHFOUJOJBO
*(0
QBSUOFS
GPMMPXJOH
UIF
BDRVJTJUJPO
PG
UIFJS
.44
MJDFOTF
CZ
(MPCBMTUBS
JO


%VSJOH
UIF
ZFBS
FOEFE
%FDFNCFS


BOE

JNQBJSNFOU
MPTT
PO
SFDFJWBCMFT
GSPN
DPOUSBDUT
XJUI
DVTUPNFST
XBT
 NJMMJPO
BOE

NJMMJPO
SFTQFDUJWFMZ
JODMVEJOH
CPUI
QSPWJTJPOT
GPS
CBE
EFCU
BOE
UIF
SFWFSTBM
PG
SFWFOVF
GPS
BDDPVOUT
XIFSF DPMMFDUBCJMJUZ
JT
OPU
SFBTPOBCMZ
BTTVSFE
5IF
JODSFBTF
JO
UIF
JNQBJSNFOU
MPTT
PO
SFDFJWBCMFT
EVSJOH

DPNQBSFE
UP

XBT ESJWFO
QSJNBSJMZ
CZ
B
TQFDJGJD
SFTFSWF
SFMBUFE
UP
POF
PG
UIF
$PNQBOZT
*(0T
XIJDI
TIVU
EPXO
HBUFXBZ
PQFSBUJPOT
EVSJOH
UIF RVBSUFS
FOEFE
.BSDI



$PTUT
UP
0CUBJO
B
$POUSBDU

5IF
$PNQBOZ
BMTP
DBQJUBMJ[FT
DPTUT
UP
PCUBJO
B
DPOUSBDU
XIJDI
JODMVEF
DFSUBJO
EFGFSSFE
TVCTDSJCFS
BDRVJTJUJPO
DPTUT
UIBU
BSF BNPSUJ[FE
DPOTJTUFOUMZ
XJUI
UIF
QBUUFSO
PG
USBOTGFS
PG
UIF
HPPE
PS
EFMJWFSZ
PG
UIF
TFSWJDF
UP
XIJDI
UIF
BTTFU
SFMBUFT
5IF
$PNQBOZgT TVCTDSJCFS
BDRVJTJUJPO
DPTUT
QSJNBSJMZ
JODMVEF
EFBMFS
BOE
JOUFSOBM
TBMFT
DPNNJTTJPOT
BOE
DFSUBJO
PUIFS
DPTUT
JODMVEJOH
CVU
OPU MJNJUFE
UP
QSPNPUJPOBM
DPTUT
DPPQFSBUJWF
NBSLFUJOH
DSFEJUT
BOE
TIJQQJOH
BOE
GVMGJMMNFOU
DPTUT
5IF
$PNQBOZ
DBQJUBMJ[FT JODSFNFOUBM
DPTUT
UP
PCUBJO
B
DPOUSBDU
UP
UIF
FYUFOU
JU
FYQFDUT
UP
SFDPWFS
UIFN
5IFTF
DBQJUBMJ[FE
DPOUSBDU
DPTUT
JODMVEF
POMZ
JOUFSOBM BOE
FYUFSOBM
JOJUJBM
BDUJWBUJPO
DPNNJTTJPOT
CFDBVTF
UIFTF
DPTUT
BSF
DPOTJEFSFE
JODSFNFOUBM
BOE
XPVME
OPU
IBWF
CFFO
JODVSSFE
JG UIF
DPOUSBDU
IBE
OPU
CFFO
PCUBJOFE
5IFTF
DBQJUBMJ[FE
DPTUT
BSF
JODMVEFE
JO
PUIFS
BTTFUT
PO
UIF
$PNQBOZgT
DPOTPMJEBUFE
CBMBODF TIFFU
BOE
BSF
BNPSUJ[FE
UP
NBSLFUJOH
HFOFSBM
BOE
BENJOJTUSBUJWF
FYQFOTFT
PO
UIF
$PNQBOZgT
DPOTPMJEBUFE
TUBUFNFOU
PG
PQFSBUJPOT PO
B
TUSBJHIUMJOF
CBTJT
PWFS
UIF
FTUJNBUFE
DVTUPNFS
MJGF
PG
UISFF
ZFBST
XIJDI
DPOTJEFST
BOUJDJQBUFE
DPOUSBDU
SFOFXBMT

'PS
UIF
ZFBS
FOEFE
%FDFNCFS


BOE

UIF
BNPVOU
PG
BNPSUJ[BUJPO
SFMBUFE
UP
QSFWJPVTMZ
DBQJUBMJ[FE
DPTUT
UP
PCUBJO B
DPOUSBDU
XBT

NJMMJPO
BOE

NJMMJPO
SFTQFDUJWFMZ

$POUSBDU
-JBCJMJUJFT

$POUSBDU
MJBCJMJUJFT
XIJDI
BSF
JODMVEFE
JO
EFGFSSFE
SFWFOVF
PO
UIF
$PNQBOZgT
DPOTPMJEBUFE
CBMBODF
TIFFU
SFQSFTFOU
UIF $PNQBOZgT
PCMJHBUJPO
UP
USBOTGFS
TFSWJDF
PS
FRVJQNFOU
UP
B
DVTUPNFS
GPS
XIJDI
JU
IBT
QSFWJPVTMZ
SFDFJWFE
DPOTJEFSBUJPO
GSPN
B DVTUPNFS
"T
PG
%FDFNCFS


UIF
UPUBM
USBOTBDUJPO
QSJDF
BMMPDBUFE
UP
VOTBUJTGJFE
PS
QBSUJBMMZ
VOTBUJTGJFE
QFSGPSNBODF PCMJHBUJPOT
XBT

NJMMJPO
5IF
BNPVOU
PG
SFWFOVF
SFDPHOJ[FE
EVSJOH
UIF
ZFBS
FOEFE
%FDFNCFS


GSPN
QFSGPSNBODF PCMJHBUJPOT
JODMVEFE
JO
UIF
DPOUSBDU
MJBCJMJUZ
CBMBODF
BU
UIF
CFHJOOJOH
PG
UIF
QFSJPE
XBT

NJMMJPO
5IF
BNPVOU
PG
SFWFOVF SFDPHOJ[FE
EVSJOH
UIF
ZFBS
FOEFE
%FDFNCFS


GSPN
QFSGPSNBODF
PCMJHBUJPOT
JODMVEFE
JO
UIF
DPOUSBDU
MJBCJMJUZ
CBMBODF
BU UIF
CFHJOOJOH
PG
UIF
QFSJPE
XBT

NJMMJPO

*O
HFOFSBM
UIF
EVSBUJPO
PG
UIF
$PNQBOZgT
DPOUSBDUT
JT
POF
ZFBS
PS
MFTT
IPXFWFS
GSPN
UJNF
UP
UJNF
UIF
$PNQBOZ
PGGFST
NVMUJ ZFBS
DPOUSBDUT
"T
PG
%FDFNCFS


UIF
$PNQBOZ
FYQFDUT
UP
SFDPHOJ[F

NJMMJPO
PS
BQQSPYJNBUFMZ

PG
JUT
SFNBJOJOH QFSGPSNBODF
PCMJHBUJPOT
EVSJOH
UIF
OFYU
UXFMWF
NPOUIT
BOE

NJMMJPO
PS
BQQSPYJNBUFMZ

CFUXFFO
UXP
UP
TJY
ZFBST
GSPN UIF
CBMBODF
TIFFU
EBUF
5IF
SFNBJOJOH

NJMMJPO
PS
BQQSPYJNBUFMZ

JT
SFMBUFE
UP
B
TJOHMF
DPOUSBDU
BOE
XJMM
CF
SFDPHOJ[FE
BT XPSL
JT
QFSGPSNFE
CZ
UIF
$PNQBOZ
UIF
UJNJOH
PG
XIJDI
JT
DVSSFOUMZ
VOLOPXO


-&"4&4

"EPQUJPO
PG
"4$
5PQJD

a-FBTFTb

0O
+BOVBSZ


UIF
$PNQBOZ
BEPQUFE
"4$

VTJOH
UIF
NPEJGJFE
SFUSPTQFDUJWF
NFUIPE
5IF
$PNQBOZ
IBT
QSFTFOUFE GJOBODJBM
SFTVMUT
BOE
BQQMJFE
JUT
BDDPVOUJOH
QPMJDJFT
GPS
UIF
QFSJPE
CFHJOOJOH
+BOVBSZ


VOEFS
"4$

XIJMF
QSJPS
QFSJPE SFTVMUT
BOE
BDDPVOUJOH
QPMJDJFT
IBWF
OPU
CFFO
BEKVTUFE
BOE
BSF
SFGMFDUFE
VOEFS
MFHBDZ
(""1
QVSTVBOU
UP
"4$


*O
DPOOFDUJPO
XJUI
UIF
BEPQUJPO
PG
"4$

UIF
$PNQBOZ
QFSGPSNFE
BO
BOBMZTJT
PG
DPOUSBDUT
VOEFS
"4$

UP
FOTVSF
QSPQFS BTTFTTNFOU
PG
MFBTFT
PS
FNCFEEFE
MFBTFT
JO
FYJTUFODF
BT
PG
+BOVBSZ


5IF
$PNQBOZ
FMFDUFE
UIF
QBDLBHF
PG
QSBDUJDBM FYQFEJFOUT
QFSNJUUFE
VOEFS
"4$

XIJDI
BMMPXT
UIF
$PNQBOZ
OPU
UP
SFBTTFTT

XIFUIFS
BOZ
FYQJSFE
PS
FYJTUJOH
DPOUSBDUT
BT PG
UIF
BEPQUJPO
EBUF
BSF
PS
DPOUBJO
B
MFBTF

MFBTF
DMBTTJGJDBUJPO
GPS
BOZ
FYQJSFE
PS
FYJTUJOH
MFBTFT
BT
PG
UIF
BEPQUJPO
EBUF
BOE
 JOJUJBM
EJSFDU
DPTUT
GPS
BOZ
FYJTUJOH
MFBTFT
BT
PG
UIF
BEPQUJPO
EBUF

 5IF
NPTU
TJHOJGJDBOU
JNQBDU
PG
BQQMZJOH
"4$

XBT
UIF
SFDPHOJUJPO
PG
SJHIUPGVTF
BTTFUT
BOE
MFBTF
MJBCJMJUJFT
GPS
PQFSBUJOH MFBTFT
JO
JUT
DPOEFOTFE
DPOTPMJEBUFE
CBMBODF
TIFFU
'PS
GJOBODF
MFBTFT
UIF
BDDPVOUJOH
SFNBJOFE
HFOFSBMMZ
DPOTJTUFOU
XJUI
MFHBDZ (""1
IPXFWFS
UIF
FYJTUJOH
DBQJUBM
MFBTF
BOE
PCMJHBUJPO
GPS
UIFTF
MFBTFT
IBWF
CFFO
SFDMBTTJGJFE
UP
B
SJHIUPGVTF
BTTFU
BOE
MFBTF MJBCJMJUZ
0O
+BOVBSZ


UIF
$PNQBOZ
SFDPHOJ[FE
BO
JOJUJBM
PQFSBUJOH
SJHIUPGVTF
BTTFU
PG

NJMMJPO
BOE
BTTPDJBUFE
PQFSBUJOH MFBTF
MJBCJMJUJFT
PG

NJMMJPO
4JODF
BEPQUJPO
PG
"4$

PO
+BOVBSZ


UIF
$PNQBOZ
FOUFSFE
JOUP
BEEJUJPOBM
MFBTFT
NPTU TJHOJGJDBOUMZ
B
MFBTF
BHSFFNFOU
GPS
JUT
OFX
IFBERVBSUFST
MPDBUJPO
TFF
GVSUIFS
EJTDVTTJPO
JO
/PUF

3FMBUFE
1BSUZ
5SBOTBDUJPOT SFTVMUJOH
JO
UIF
SFDPHOJUJPO
PG
BEEJUJPOBM
SJHIUPGVTF
BTTFUT
BOE
BTTPDJBUFE
MFBTF
MJBCJMJUJFT
PG

NJMMJPO
5IFSF
XBT
OP
JNQBDU UP
PQFOJOH
SFUBJOFE
EFGJDJU
BT
PG
+BOVBSZ



-FBTFT

5IF
GPMMPXJOH
UBCMFT
EJTDMPTF
UIF
DPNQPOFOUT
PG
UIF
$PNQBOZgT
GJOBODF
BOE
PQFSBUJOH
MFBTFT
BNPVOUT
JO
UIPVTBOET 

"T
PG %FDFNCFS

 0QFSBUJOH
MFBTFT 3JHIUPGVTF
BTTFU
OFU   

4IPSUUFSN
MFBTF
MJBCJMJUZ
BT
SFDPSEFE
JO
BDDSVFE
FYQFOTFT   -POHUFSN
MFBTF
MJBCJMJUZ   5PUBM
PQFSBUJOH
MFBTF
MJBCJMJUJFT   

'JOBODF
MFBTFT 3JHIUPGVTF
BTTFU
OFU
BT
SFDPSEFE
JO
JOUBOHJCMF
BOE
PUIFS
DVSSFOU
BTTFUT
OFU  

4IPSUUFSN
MFBTF
MJBCJMJUZ
BT
SFDPSEFE
JO
BDDSVFE
FYQFOTFT  -POHUFSN
MFBTF
MJBCJMJUZ
BT
SFDPSEFE
JO
OPODVSSFOU
MJBCJMJUJFT  5PUBM
GJOBODF
MFBTF
MJBCJMJUJFT  

*NQBDU
PO
'JOBODJBM
4UBUFNFOUT

5IF
GPMMPXJOH
UBCMF
TVNNBSJ[FT
UIF
JNQBDU
PG
UIF
BEPQUJPO
PG
"4$

PO
UIF
$PNQBOZgT
DPOEFOTFE
DPOTPMJEBUFE
CBMBODF TIFFU
5IFSF
XBT
OP
JNQBDU
PO
UIF
$PNQBOZgT
DPOEFOTFE
DPOTPMJEBUFE
TUBUFNFOU
PG
PQFSBUJPOT
BT
B
SFTVMU
PG
UIJT
BEPQUJPO
"NPVOUT BSF
JO
UIPVTBOET

$POEFOTFE
$POTPMJEBUFE
#BMBODF
4IFFU "T
PG
%FDFNCFS


*NQBDU
PO
DIBOHF
JO
BDDPVOUJOH
QPMJDZ "T
SFQPSUFE
*NQBDU
PG
-FHBDZ
%FDFNCFS

 "4$
 (""1 3JHIUPGVTF
BTTFU
OFU        k *OUBOHJCMF
BOE
PUIFS
BTTFUT
OFU   k 1SPQFSUZ
BOE
FRVJQNFOU
OFU k   "DDSVFE
FYQFOTFT      -FBTF
MJBCJMJUJFT     k 0UIFS
OPODVSSFOU
MJBCJMJUJFT  k 

 -FBTF
$PTU

5IF
DPNQPOFOUT
PG
MFBTF
DPTU
BSF
SFGMFDUFE
JO
UIF
UBCMF
CFMPX
BNPVOUT
JO
UIPVTBOET 
"T
OPUFE
BCPWF
QSJPS
QFSJPET
IBWF
OPU CFFO
BEKVTUFE
VOEFS
UIF
NPEJGJFE
SFUSPTQFDUJWF
NFUIPE
PG
BEPQUJPO

5XFMWF
.POUIT
&OEFE %FDFNCFS



0QFSBUJOH
MFBTF
DPTU "NPSUJ[BUJPO
PG
SJHIUPGVTF
BTTFUT    *OUFSFTU
PO
MFBTF
MJBCJMJUJFT   'JOBODF
MFBTF
DPTU "NPSUJ[BUJPO
PG
SJHIUPGVTF
BTTFUT  *OUFSFTU
PO
MFBTF
MJBCJMJUJFT  4IPSUUFSN
MFBTF
DPTU  5PUBM
MFBTF
DPTU   

"T
SFQPSUFE
VOEFS
MFHBDZ
(""1
UPUBM
SFOU
FYQFOTF
GPS

BOE

XBT
BQQSPYJNBUFMZ

NJMMJPO
BOE

NJMMJPO SFTQFDUJWFMZ

8FJHIUFE"WFSBHF
3FNBJOJOH
-FBTF
5FSN
BOE
%JTDPVOU
3BUF

5IF
GPMMPXJOH
UBCMF
EJTDMPTFT
UIF
XFJHIUFEBWFSBHF
SFNBJOJOH
MFBTF
UFSN
BOE
EJTDPVOU
SBUF
GPS
GJOBODF
BOE
PQFSBUJOH
MFBTFT

"T
PG %FDFNCFS



8FJHIUFEBWFSBHF
MFBTF
UFSN 'JOBODF
MFBTFT 
ZFBST 0QFSBUJOH
-FBTFT 
ZFBST

8FJHIUFEBWFSBHF
EJTDPVOU
SBUF 'JOBODF
MFBTFT  0QFSBUJOH
MFBTFT 

4VQQMFNFOUBM
$BTI
'MPX
*OGPSNBUJPO

5IF
CFMPX
UBCMF
EJTDMPTFT
TVQQMFNFOUBM
DBTI
GMPX
JOGPSNBUJPO
GPS
GJOBODF
BOE
PQFSBUJOH
MFBTFT
JO
UIPVTBOET 

5XFMWF
.POUIT
&OEFE %FDFNCFS



$BTI
QBJE
GPS
BNPVOUT
JODMVEFE
JO
UIF
NFBTVSFNFOU
PG
MFBTF
MJBCJMJUJFT 0QFSBUJOH
DBTI
GMPXT
GSPN
PQFSBUJOH
MFBTFT    0QFSBUJOH
DBTI
GMPXT
GSPN
GJOBODF
MFBTFT  'JOBODJOH
DBTI
GMPXT
GSPN
GJOBODF
MFBTFT 

 .BUVSJUZ
"OBMZTJT

5IF
GPMMPXJOH
UBCMF
SFGMFDUT
VOEJTDPVOUFE
DBTI
GMPXT
PO
BO
BOOVBM
CBTJT
GPS
UIF
$PNQBOZgT
MFBTF
MJBCJMJUJFT
BT
PG
%FDFNCFS
 
BNPVOUT
JO
UIPVTBOET 

0QFSBUJOH
-FBTFT 'JOBODF
-FBTFT

                     k 5IFSFBGUFS   k 5PUBM
MFBTF
QBZNFOUT      *NQVUFE
JOUFSFTU    %JTDPVOUFE
MFBTF
MJBCJMJUZ     


1301&35:
"/%
&26*1.&/5

1SPQFSUZ
BOE
FRVJQNFOU
DPOTJTUT
PG
UIF
GPMMPXJOH
JO
UIPVTBOET 

%FDFNCFS
 %FDFNCFS
   (MPCBMTUBS
4ZTUFN 4QBDF
DPNQPOFOU 'JSTU
BOE
TFDPOEHFOFSBUJPO
TBUFMMJUFT
JO
TFSWJDF         4FDPOEHFOFSBUJPO
TBUFMMJUF
POHSPVOE
TQBSF     (SPVOE
DPNQPOFOU     $POTUSVDUJPO
JO
QSPHSFTT (SPVOE
DPNQPOFOU     /FYUHFOFSBUJPO
TPGUXBSF
VQHSBEFT     0UIFS     5PUBM
(MPCBMTUBS
4ZTUFN       *OUFSOBMMZ
EFWFMPQFE
BOE
QVSDIBTFE
TPGUXBSF     &RVJQNFOU     -BOE
BOE
CVJMEJOHT     -FBTFIPME
JNQSPWFNFOUT     5PUBM
QSPQFSUZ
BOE
FRVJQNFOU       "DDVNVMBUFE
EFQSFDJBUJPO     5PUBM
QSPQFSUZ
BOE
FRVJQNFOU
OFU      
"NPVOUT
JO
UIF
BCPWF
UBCMF
DPOTJTU
QSJNBSJMZ
PG
DPTUT
JODVSSFE
SFMBUFE
UP
UIF
DPOTUSVDUJPO
PG
UIF
$PNQBOZgT
TFDPOEHFOFSBUJPO DPOTUFMMBUJPO
BOE
HSPVOE
VQHSBEFT
5IF
SFNBJOJOH
HSPVOE
DPNQPOFOU
PG
DPOTUSVDUJPO
JO
QSPHSFTT
SFQSFTFOUT
DPTUT
JODMVEJOH DBQJUBMJ[FE
JOUFSFTU
JODVSSFE
GPS
BTTFUT
UP
VQHSBEF
UIF
$PNQBOZT
HSPVOE
JOGSBTUSVDUVSF
JO
DFSUBJO
SFHJPOT
BSPVOE
UIF
XPSME
5IFTF HBUFXBZ
BTTFUT
XJMM
CF
EFQMPZFE
CBTFE
PO
DPWFSBHF
PQUJNJ[BUJPO
5IF
HSPVOE
DPNQPOFOU
PG
DPOTUSVDUJPO
JO
QSPHSFTT
BMTP
JODMVEFT DPTUT
JODMVEJOH
DBQJUBMJ[FE
JOUFSFTU
BTTPDJBUFE
XJUI
UIF
$PNQBOZT
DPOUSBDU
GPS
UIF
QSPDVSFNFOU
BOE
QSPEVDUJPO
PG
OFX
HBUFXBZ BOUFOOBT

*O
+BOVBSZ

UIF
$PNQBOZ
DPNQMFUFE
UFDIOPMPHZ
VQHSBEFT
UP
BMMPX
DVTUPNFST
UP
VTF
4BU'Je
JO
DFSUBJO
BSFBT
PG
-BUJO "NFSJDB
"DDPSEJOHMZ
JU
QMBDFE
JOUP
TFSWJDF
BQQSPYJNBUFMZ

NJMMJPO
PG
DPOTUSVDUJPO
JO
QSPHSFTT
JODMVEJOH
DBQJUBMJ[FE
JOUFSFTU

 SFMBUFE
UP
UIF
EFQMPZNFOU
PG
UXP
3"/T
UP
UIJT
SFHJPO
"EEJUJPOBMMZ
B
QPSUJPO
PG
JOUFSOBMMZ
EFWFMPQFE
BOE
QVSDIBTFE
TPGUXBSF BTTFUT
XFSF
SFUJSFE
EVSJOH

ESJWJOH
UIF
EFDSFBTF
JO
UIF
UBCMF
BCPWF
0GGTFUUJOH
UIFTF
EFDSFBTFT
XBT
BO
JODSFBTF
JO
DPOTUSVDUJPO JO
QSPHSFTT
SFMBUFE
UP
UIF
QSPDVSFNFOU
BOE
QSPEVDUJPO
PG
OFX
BOUFOOBT
GPS
TVCTUBOUJBMMZ
BMM
PG
UIF
$PNQBOZT
HBUFXBZT
5IF $PNQBOZ
QMBOT
UP
EFQMPZ
UIFTF
BOUFOOBT
PWFS
UIF
OFYU
GFX
ZFBST

"NPVOUT
JODMVEFE
JO
UIF
$PNQBOZgT
TFDPOEHFOFSBUJPO
TBUFMMJUF
POHSPVOE
TQBSF
CBMBODF
BT
PG
%FDFNCFS


BOE
 DPOTJTU
QSJNBSJMZ
PG
DPTUT
SFMBUFE
UP
B
TQBSF
TFDPOEHFOFSBUJPO
TBUFMMJUF
UIBU
IBT
OPU
CFFO
QMBDFE
JO
PSCJU
CVU
JT
DBQBCMF
PG
CFJOH JODMVEFE
JO
B
GVUVSF
MBVODI
"T
PG
%FDFNCFS


UIJT
TBUFMMJUF
IBT
OPU
CFFO
QMBDFE
JOUP
TFSWJDF
UIFSFGPSF
UIF
$PNQBOZ
IBT OPU
TUBSUFE
UP
SFDPSE
EFQSFDJBUJPO
FYQFOTF

$BQJUBMJ[FE
*OUFSFTU
BOE
%FQSFDJBUJPO
&YQFOTF
5IF
GPMMPXJOH
UBCMF
TVNNBSJ[FT
DBQJUBMJ[FE
JOUFSFTU
GPS
UIF
QFSJPET
JOEJDBUFE
CFMPX
JO
UIPVTBOET 

:FBS
&OEFE
%FDFNCFS
    *OUFSFTU
DPTU
FMJHJCMF
UP
CF
DBQJUBMJ[FE          *OUFSFTU
DPTU
SFDPSEFE
JO
JOUFSFTU
JODPNF
FYQFOTF
OFU       /FU
JOUFSFTU
DBQJUBMJ[FE         
5IF
GPMMPXJOH
UBCMF
TVNNBSJ[FT
EFQSFDJBUJPO
FYQFOTF
GPS
UIF
QFSJPET
JOEJDBUFE
CFMPX
JO
UIPVTBOET 

:FBS
&OEFE
%FDFNCFS
    %FQSFDJBUJPO
&YQFOTF         
5IF
GPMMPXJOH
UBCMF
TVNNBSJ[FT
BNPSUJ[BUJPO
FYQFOTF
GPS
UIF
QFSJPET
JOEJDBUFE
CFMPX
JO
UIPVTBOET 
:FBS
&OEFE
%FDFNCFS
    "NPSUJ[BUJPO
&YQFOTF        

%VSJOH

UIF
$PNQBOZ
QMBDFE
JOUP
TFSWJDF
EFWFMPQFE
UFDIOPMPHZ
BTTPDJBUFE
XJUI
UIF
MBVODI
PG
JUT
OFYU
HFOFSBUJPO
PG QSPEVDUT
5IF
BNPSUJ[BUJPO
FYQFOTF
JO
UIF
UBCMF
BCPWF
SFGMFDUT
QSJNBSJMZ
UIF
ZFBS
MJGF
PG
UIFTF
BTTFUT
GSPN
UIF
JOTFSWJDF
EBUF

(FPHSBQIJD
-PDBUJPO
PG
-POH-JWFE
"TTFUT

-POHMJWFE
BTTFUT
DPOTJTU
QSJNBSJMZ
PG
QSPQFSUZ
BOE
FRVJQNFOU
BOE
BSF
BUUSJCVUFE
UP
WBSJPVT
DPVOUSJFT
CBTFE
PO
UIF
QIZTJDBM MPDBUJPO
PG
UIF
BTTFU
FYDFQU
GPS
UIF
$PNQBOZgT
TBUFMMJUFT
XIJDI
BSF
JODMVEFE
JO
UIF
MPOHMJWFE
BTTFUT
PG
UIF
6OJUFE
4UBUFT
5IF $PNQBOZgT
JOGPSNBUJPO
CZ
HFPHSBQIJD
BSFB
JT
BT
GPMMPXT
JO
UIPVTBOET 



:FBS
&OEFE
%FDFNCFS
   -POHMJWFE
BTTFUT 6OJUFE
4UBUFT       $BOBEB     &VSPQF     $FOUSBM
BOE
4PVUI
"NFSJDB     0UIFS   5PUBM
MPOHMJWFE
BTTFUT      

 
*/5"/(*#-&
"/%
05)&3
"44&54

*OUBOHJCMF
"TTFUT

5IF
$PNQBOZ
IBT
JOUBOHJCMF
BTTFUT
OPU
TVCKFDU
UP
BNPSUJ[BUJPO
XIJDI
JODMVEF
DFSUBJO
DPTUT
UP
PCUBJO
PS
EFGFOE
SFHVMBUPSZ BVUIPSJ[BUJPOT
BOE
B
QPSUJPO
PG
DBQJUBMJ[FE
JOUFSFTU
BTTPDJBUFE
XJUI
UIFTF
BTTFUT
5IFTF
DPTUT
JODMVEF
QSJNBSJMZ
FGGPSUT
SFMBUFE
UP
UIF FOIBODFNFOU
PG
UIF
$PNQBOZT
MJDFOTFE
.44
TQFDUSVN
UP
QSPWJEF
UFSSFTUSJBM
XJSFMFTT
TFSWJDFT
BT
XFMM
BT
DPTUT
XJUI
JOUFSOBUJPOBM SFHVMBUPSZ
BHFODJFT
UP
PCUBJO
TJNJMBS
UFSSFTUSJBM
BVUIPSJ[BUJPOT
PVUTJEF
PG
UIF
6OJUFE
4UBUFT
5IJT
DBUFHPSZ
JODMVEFT
XPSL
JO
QSPHSFTT BTTFUT
BT
XFMM
BT
JOEFGJOJUF
MJWFE
BTTFUT
BMSFBEZ
QMBDFE
JOUP
TFSWJDF
5IF
$PNQBOZ
BMTP
IBT
JOUBOHJCMF
BTTFUT
TVCKFDU
UP
BNPSUJ[BUJPO XIJDI
JODMVEF
QSJNBSJMZ
EFWFMPQFE
UFDIOPMPHZ
BOE
EFGJOJUF
MJWFE
.44
MJDFOTFT

5IF
HSPTT
DBSSZJOH
BNPVOU
BOE
BDDVNVMBUFE
BNPSUJ[BUJPO
PG
UIF
$PNQBOZT
JOUBOHJCMF
BTTFUT
DPOTJTU
PG
UIF
GPMMPXJOH
JO UIPVTBOET 

%FDFNCFS

 %FDFNCFS

 (SPTT /FU (SPTT /FU $BSSZJOH "DDVNVMBUFE $BSSZJOH $BSSZJOH "DDVNVMBUFE $BSSZJOH "NPVOU "NPSUJ[BUJPO "NPVOU "NPVOU "NPSUJ[BUJPO "NPVOU *OUBOHJCMF
"TTFUT
/PU
4VCKFDU
UP
"NPSUJ[BUJPO     k        k   

*OUBOHJCMF
"TTFUT
4VCKFDU
UP
"NPSUJ[BUJPO %FWFMPQFE
UFDIOPMPHZ                   $VTUPNFS
SFMBUJPOTIJQT     k     k 3FHVMBUPSZ
BVUIPSJ[BUJPOT          5SBEF
OBNF   k   k                  

5PUBM                  

%VSJOH

UIF
$PNQBOZ
DPNQMFUFE
UIF
BDRVJTJUJPO
PG
DFSUBJO
BTTFUT
BOE
SFMBUFE
HPWFSONFOU
BVUIPSJ[BUJPOT
GSPN
UIF
PXOFS PG
JUT
*(0
JO
"SHFOUJOB
*ODMVEFE
JO
UIJT
BTTFU
QVSDIBTF
XBT
BO
JOEFGJOJUF
MJWFE
TQFDUSVN
MJDFOTF
UPUBMJOH

NJMMJPO

'PS

BOE

UIF
$PNQBOZ
SFDPSEFE
BNPSUJ[BUJPO
FYQFOTF
PO
UIFTF
JOUBOHJCMF
BTTFUT
PG

NJMMJPO
BOE

NJMMJPO SFTQFDUJWFMZ
"NPSUJ[BUJPO
FYQFOTF
JT
SFDPSEFE
JO
PQFSBUJOH
FYQFOTFT
JO
UIF
$PNQBOZgT
DPOTPMJEBUFE
TUBUFNFOUT
PG
PQFSBUJPOT

&YDMVEJOH
UIF
FGGFDUT
PG
BOZ
BDRVJTJUJPOT
EJTQPTJUJPOT
PS
XSJUFEPXOT
TVCTFRVFOU
UP
%FDFNCFS


UPUBM
FTUJNBUFE
BOOVBM BNPSUJ[BUJPO
PG
JOUBOHJCMF
BTTFUT
JT
BT
GPMMPXT
JO
UIPVTBOET                5IFSFBGUFS   5PUBM   

 0UIFS
"TTFUT

0UIFS
BTTFUT
DPOTJTU
PG
UIF
GPMMPXJOH
JO
UIPVTBOET  %FDFNCFS
   $PTUT
UP
PCUBJO
B
DPOUSBDU       -POHUFSN
QSFQBJE
MJDFOTFT
BOE
SPZBMUJFT     #VTJOFTT
FDPOPNJD
MPTT
DMBJN
SFDFJWBCMF
TFF
/PUF

GPS
GVSUIFS
EJTDVTTJPO k   *OUFSOBUJPOBM
UBY
SFDFJWBCMFT   *OWFTUNFOUT
JO
CVTJOFTTFT     0UIFS
MPOHUFSN
BTTFUT         


-0/(5&3.
%
"/%
05)&3
'*/"/$*/(
"33"/(&.&/54

-POHUFSN
EFCU
DPOTJTUT
PG
UIF
GPMMPXJOH
JO
UIPVTBOET 

%FDFNCFS

 %FDFNCFS



6OBNPSUJ[FE 6OBNPSUJ[FE %JTDPVOU
BOE %JTDPVOU
BOE %FGFSSFE %FGFSSFE 1SJODJQBM 'JOBODJOH $BSSZJOH 1SJODJQBM 'JOBODJOH $BSSZJOH "NPVOU $PTUT 7BMVF "NPVOU $PTUT 7BMVF 'BDJMJUZ
"HSFFNFOU                   4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ       k k k -PBO
"HSFFNFOU
XJUI
5IFSNP             
$POWFSUJCMF
4FOJPS
/PUFT *TTVFE
JO
   k     k   5PUBM
%FCU             -FTT
$VSSFOU
1PSUJPO k k k   k   -POH5FSN
%FCU                  
5IF
QSJODJQBM
BNPVOUT
TIPXO
BCPWF
JODMVEF
QBZNFOU
PG
JOLJOE
JOUFSFTU
BT
BQQMJDBCMF
5IF
DBSSZJOH
WBMVF
JT
OFU
PG
EFGFSSFE GJOBODJOH
DPTUT
BOE
BOZ
EJTDPVOUT
UP
UIF
MPBO
BNPVOUT
BU
JTTVBODF
JODMVEJOH
BDDSFUJPO
BT
GVSUIFS
EFTDSJCFE
CFMPX
"T
PG %FDFNCFS


UIFSF
JT
OP
DVSSFOU
QPSUJPO
PG
MPOHUFSN
EFCU
TJODF
UIFSF
BSF
OP
TDIFEVMFE
QSJODJQBM
SFQBZNFOUT
EVF
XJUIJO POF
ZFBS
PG
UIF
CBMBODF
TIFFU
EBUF
"T
EJTDVTTFE
GVSUIFS
CFMPX
UIF
$PNQBOZ
DPNQMFUFE
B
CSPBETDBMF
SFGJOBODJOH
EVSJOH
/PWFNCFS 
JODMVEJOH
BO
BNFOENFOU
BOE
SFTUBUFNFOU
PG
UIF
'BDJMJUZ
"HSFFNFOU
BOE
JTTVBODF
PG
B
TFDPOE
MJFO
UFSN
MPBO
GBDJMJUZ
BHSFFNFOU UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ 

'BDJMJUZ
"HSFFNFOU
*O

UIF
$PNQBOZ
FOUFSFE
JOUP
UIF
'BDJMJUZ
"HSFFNFOU
XJUI
B
TZOEJDBUF
PG
CBOL
MFOEFST
JODMVEJOH
#/1
1BSJCBT
4PDJfUf (fOfSBMF
/BUJYJT
$SfEJU
"HSJDPMF
$PSQPSBUF
BOE
*OWFTUNFOU
#BOL
BOE
$SfEJU
*OEVTUSJFM
FU
$PNNFSDJBM
BT
BSSBOHFST
BOE
#/1 1BSJCBT
BT
UIF
TFDVSJUZ
BHFOU
5IF
'BDJMJUZ
"HSFFNFOU
XBT
BNFOEFE
BOE
SFTUBUFE
JO
+VMZ

"VHVTU

+VOF

BOE /PWFNCFS


5IF
'BDJMJUZ
"HSFFNFOU
JT
TDIFEVMFE
UP
NBUVSF
JO
%FDFNCFS

*OEFCUFEOFTT
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
CFBST
JOUFSFTU BU
B
GMPBUJOH
SBUF
PG
-*#03
QMVT
B
NBSHJO
UIBU
JODSFBTFT
CZ

FBDI
ZFBS
UP
B
NBYJNVN
SBUF
PG
-*#03
QMVT

5IF
DVSSFOU JOUFSFTU
SBUF
JT
-*#03
QMVT

*OUFSFTU
PO
UIF
'BDJMJUZ
"HSFFNFOU
JT
QBZBCMF
TFNJBOOVBMMZ
JO
BSSFBST
PO
+VOF

BOE
%FDFNCFS 
PG
FBDI
DBMFOEBS
ZFBS
/JOFUZGJWF
QFSDFOU
PG
UIF
$PNQBOZT
PCMJHBUJPOT
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
BSF
HVBSBOUFFE
CZ #QJGSBODF
"TTVSBODF
&YQPSU
4"4
#1*'"&
UIF
'SFODI
FYQPSU
DSFEJU
BHFODZ
5IF
$PNQBOZT
PCMJHBUJPOT
VOEFS
UIF
'BDJMJUZ "HSFFNFOU
BSF
HVBSBOUFFE
PO
B
TFOJPS
TFDVSFE
CBTJT
CZ
BMM
PG
JUT
EPNFTUJD
TVCTJEJBSJFT
BOE
BSF
TFDVSFE
CZ
B
GJSTU
QSJPSJUZ
MJFO
PO TVCTUBOUJBMMZ
BMM
PG
UIF
BTTFUT
PG
UIF
$PNQBOZ
BOE
JUT
EPNFTUJD
TVCTJEJBSJFT
PUIFS
UIBO
UIFJS
'$$
MJDFOTFT
JODMVEJOH
QBUFOUT
BOE USBEFNBSLT

PG
UIF
FRVJUZ
PG
UIF
$PNQBOZT
EPNFTUJD
TVCTJEJBSJFT
BOE

PG
UIF
FRVJUZ
PG
DFSUBJO
GPSFJHO
TVCTJEJBSJFT

 5IF
'BDJMJUZ
"HSFFNFOU
DPOUBJOT
DVTUPNBSZ
FWFOUT
PG
EFGBVMU
BOE
SFRVJSFT
UIBU
UIF
$PNQBOZ
TBUJTGZ
WBSJPVT
GJOBODJBM
BOE
OPO GJOBODJBM
DPWFOBOUT
JODMVEJOH
UIF
GPMMPXJOH

d 5IF
$PNQBOZT
DBQJUBM
FYQFOEJUVSFT
EP
OPU
FYDFFE

NJMMJPO
QFS
ZFBS

d 5IF
$PNQBOZT
FYQFOEJUVSFT
JO
DPOOFDUJPO
XJUI
JUT
TQFDUSVN
SJHIUT
EP
OPU
FYDFFE

NJMMJPO

d 5IF
$PNQBOZ
NBJOUBJOT
BU
BMM
UJNFT
B
NJOJNVN
MJRVJEJUZ
CBMBODF
PG

NJMMJPO

d 5IF
$PNQBOZ
BDIJFWFT
GPS
FBDI
QFSJPE
UIF
GPMMPXJOH
NJOJNVN
BEKVTUFE
DPOTPMJEBUFE
&#*5%"
BT
EFGJOFE
JO
UIF 'BDJMJUZ
"HSFFNFOU
BNPVOUT
JO
UIPVTBOET 

1FSJPE .JOJNVN
"NPVOU                

d 5IF
$PNQBOZ
NBJOUBJOT
B
NJOJNVN
EFCU
TFSWJDF
DPWFSBHF
SBUJP
PG


d 5IF
$PNQBOZ
NBJOUBJOT
B
NBYJNVN
OFU
EFCU
UP
BEKVTUFE
DPOTPMJEBUFE
&#*5%"
SBUJP
PG

GPS
UIF
%FDFNCFS

 NFBTVSFNFOU
QFSJPE
EFDSFBTJOH
HSBEVBMMZ
FBDI
TFNJBOOVBM
QFSJPE
VOUJM
UIF
SFRVJSFNFOU
FRVBMT

GPS
UIF
GPVS
TFNJ BOOVBM
NFBTVSFNFOU
QFSJPET
MFBEJOH
VQ
UP
%FDFNCFS



d 5IF
$PNQBOZ
NBJOUBJOT
B
NJOJNVN
JOUFSFTU
DPWFSBHF
SBUJP
PG

GPS
UIF
%FDFNCFS


NFBTVSFNFOU
QFSJPE JODSFBTJOH
HSBEVBMMZ
FBDI
TFNJBOOVBM
QFSJPE
VOUJM
UIF
SFRVJSFNFOU
FRVBMT

GPS
UIF
UXP
TFNJBOOVBM
NFBTVSFNFOU QFSJPET
MFBEJOH
VQ
UP
%FDFNCFS


BOE

d 5IF
$PNQBOZ
NBLFT
NBOEBUPSZ
QSFQBZNFOUT
JO
TQFDJGJFE
DJSDVNTUBODFT
BOE
BNPVOUT
JODMVEJOH
JG
UIF
$PNQBOZ
HFOFSBUFT FYDFTT
DBTI
GMPX
NPOFUJ[FT
JUT
TQFDUSVN
SJHIUT
SFDFJWFT
UIF
QSPDFFET
PG
DFSUBJO
BTTFU
EJTQPTJUJPOT
PS
SFDFJWFT
NPSF
UIBO 
NJMMJPO
GSPN
UIF
TBMF
PG
BEEJUJPOBM
EFCU
PS
FRVJUZ
TFDVSJUJFT

"EEJUJPOBMMZ
UIF
DPWFOBOUT
JO
UIF
'BDJMJUZ
"HSFFNFOU
MJNJU
UIF
$PNQBOZT
BCJMJUZ
UP
BNPOH
PUIFS
UIJOHT
JODVS
PS
HVBSBOUFF BEEJUJPOBM
JOEFCUFEOFTT
NBLF
DFSUBJO
JOWFTUNFOUT
BDRVJTJUJPOT
PS
DBQJUBM
FYQFOEJUVSFT
BCPWF
DFSUBJO
BHSFFE
MFWFMT
QBZ
EJWJEFOET PS
SFQVSDIBTF
PS
SFEFFN
DBQJUBM
TUPDL
PS
TVCPSEJOBUFE
JOEFCUFEOFTT
HSBOU
MJFOT
PO
JUT
BTTFUT
JODVS
SFTUSJDUJPOT
PO
UIF
BCJMJUZ
PG
JUT TVCTJEJBSJFT
UP
QBZ
EJWJEFOET
PS
UP
NBLF
PUIFS
QBZNFOUT
UP
UIF
$PNQBOZ
FOUFS
JOUP
USBOTBDUJPOT
XJUI
JUT
BGGJMJBUFT
NFSHF
PS DPOTPMJEBUF
XJUI
PUIFS
FOUJUJFT
PS
USBOTGFS
BMM
PS
TVCTUBOUJBMMZ
BMM
PG
JUT
BTTFUT
BOE
USBOTGFS
PS
TFMM
BTTFUT

*O
DBMDVMBUJOH
DPNQMJBODF
XJUI
UIF
GJOBODJBM
DPWFOBOUT
PG
UIF
'BDJMJUZ
"HSFFNFOU
UIF
$PNQBOZ
NBZ
JODMVEF
DFSUBJO
DBTI
GVOET DPOUSJCVUFE
UP
UIF
$PNQBOZ
GSPN
UIF
JTTVBODF
PG
UIF
$PNQBOZT
DPNNPO
TUPDL
BOEPS
TVCPSEJOBUFE
JOEFCUFEOFTT
5IFTF
GVOET BSF
SFGFSSFE
UP
BT
&RVJUZ
$VSF
$POUSJCVUJPOT
BOE
NBZ
CF
VTFE
UP
BDIJFWF
DPNQMJBODF
XJUI
GJOBODJBM
DPWFOBOUT
UISPVHI
NBUVSJUZ *G
UIF
$PNQBOZ
WJPMBUFT
BOZ
DPWFOBOUT
BOE
JT
VOBCMF
UP
PCUBJO
B
TVGGJDJFOU
&RVJUZ
$VSF
$POUSJCVUJPO
PS
PCUBJO
B
XBJWFS
PS
JT
VOBCMF UP
NBLF
QBZNFOUT
UP
TBUJTGZ
JUT
EFCU
PCMJHBUJPOT
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
XIFO
EVF
BOE
JT
VOBCMF
UP
PCUBJO
B
XBJWFS
JU
XPVME CF
JO
EFGBVMU
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
BOE
QBZNFOU
PG
UIF
JOEFCUFEOFTT
DPVME
CF
BDDFMFSBUFE
5IF
BDDFMFSBUJPO
PG
UIF
$PNQBOZT JOEFCUFEOFTT
VOEFS
POF
BHSFFNFOU
NBZ
QFSNJU
BDDFMFSBUJPO
PG
JOEFCUFEOFTT
VOEFS
PUIFS
BHSFFNFOUT
UIBU
DPOUBJO
DSPTTBDDFMFSBUJPO QSPWJTJPOT
"T
PG
%FDFNCFS


UIF
$PNQBOZ
XBT
JO
DPNQMJBODF
XJUI
SFTQFDU
UP
UIF
DPWFOBOUT
PG
UIF
'BDJMJUZ
"HSFFNFOU

5IF
'BDJMJUZ
"HSFFNFOU
BMTP
SFRVJSFT
UIF
$PNQBOZ
UP
NBJOUBJO
B
EFCU
TFSWJDF
SFTFSWF
BDDPVOU
XIJDI
JT
QMFEHFE
UP
TFDVSF
BMM PG
UIF
$PNQBOZT
PCMJHBUJPOT
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
"T
QBSU
PG
UIF
BNFOENFOU
UP
UIF
'BDJMJUZ
"HSFFNFOU
JO
/PWFNCFS 
UIF
SFRVJSFE
CBMBODF
JO
UIF
EFCU
TFSWJDF
SFTFSWF
BDDPVOU
JT
GJYFE
BOE
NVTU
FRVBM
BU
MFBTU

NJMMJPO
"T
PG
%FDFNCFS
 
UIF
CBMBODF
JO
UIF
EFCU
TFSWJDF
SFTFSWF
BDDPVOU
XBT
BQQSPYJNBUFMZ

NJMMJPO
PG
XIJDI

NJMMJPO
JT
DMBTTJGJFE
BT OPODVSSFOU
SFTUSJDUFE
DBTI
PO
UIF
$PNQBOZT
DPOTPMJEBUFE
CBMBODF
TIFFU
BT
JU
XJMM
CF
VTFE
UPXBSET
UIF
GJOBM
TDIFEVMFE
QBZNFOU EVF
VQPO
NBUVSJUZ
PG
UIF
'BDJMJUZ
"HSFFNFOU
JO
%FDFNCFS

5IF
SFNBJOJOH
CBMBODF
PG

NJMMJPO
JT
DMBTTJGJFE
BT
DVSSFOU BOE
SFQSFTFOUT
UIF
QPSUJPO
PG
UIF
EFCU
TFSWJDF
SFTFSWF
BDDPVOU
JO
FYDFTT
PG
UIF
SFRVJSFE
CBMBODF
5IF
$PNQBOZ
FYQFDUT
UP
SFDFJWF UIJT
BNPVOU
GSPN
JUT
MFOEFST
EVSJOH
UIF
OFYU
UXFMWF
NPOUIT

 0O
/PWFNCFS


UIF
$PNQBOZ
5IFSNP
UIF
MFOEFST
BOE
UIF
#1*'"&
BOE
4FDVSJUZ
"HFOU
FOUFSFE
JOUP
B
'PVSUI
(MPCBM "NFOENFOU
BOE
3FTUBUFNFOU
"HSFFNFOU
UIF
a
("3"b 
1VSTVBOU
UP
UIF

("3"
UIF
'BDJMJUZ
"HSFFNFOU
XBT
BNFOEFE BOE
SFTUBUFE
BOE
UIF
$PNQBOZ
5IFSNP
BOE
UIF
MFOEFST
BHSFFE
UP
UIF
GPMMPXJOH

d 5IF

NJMMJPO
QSFQBZNFOU
PG
UIF
OFYU
UISFF
TDIFEVMFE
QSJODJQBM
QBZNFOUT
BOE
B
QPSUJPO
PG
UIF
GPVSUI
TDIFEVMFE QSJODJQBM
QBZNFOU
VTJOH
QSPDFFET
GSPN
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
BT
EFTDSJCFE
JO
NPSF
EFUBJM
CFMPX
DBTI
PO IBOE
BOE
QSPDFFET
GSPN
UIF
SFEVDUJPO
PG
UIF
$PNQBOZT
EFCU
TFSWJDF
SFTFSWF
BDDPVOU

d "

NJMMJPO
SFEVDUJPO
UP
UIF
SFRVJSFE
CBMBODF
JO
UIF
EFCU
TFSWJDF
SFTFSWF
BDDPVOU
XIJDI
XJMM
SFNBJO
BU
BQQSPYJNBUFMZ 
NJMMJPO
UISPVHI
UIF
NBUVSJUZ
EBUF

d 3FWJTJPOT
UP
UIF
SFNBJOJOH
SFQBZNFOU
TDIFEVMF
UP
SFEVDF
UIF
BNPVOU
PG
TDIFEVMFE
QSJODJQBM
QBZNFOUT
QSJPS
UP
NBUVSJUZ MFBWJOH
B
GJOBM
TDIFEVMFE
QSJODJQBM
QBZNFOU
VQPO
NBUVSJUZ
PG

NJMMJPO

d "
SFRVJSFNFOU
UIBU
UIF
$PNQBOZ
SBJTF
OP
MFTT
UIBO

NJMMJPO
PG
FRVJUZ
QSJPS
UP
.BSDI


WJB
UIF
DBTI
FYFSDJTF PG
PVUTUBOEJOH
XBSSBOUT
PS
PUIFS
FRVJUZ
UP
CF
BQQMJFE
UPXBSET
UIF
QSJODJQBM
QBZNFOU
EVF
PO
+VOF


BOE
UIFO
JG BQQMJDBCMF
UP
UIF
OFYU
TDIFEVMFE
QSJODJQBM
QBZNFOUT

d "
SFTFU
PG
GJOBODJBM
DPWFOBOU
MFWFMT
CBTFE
PO
UIF
$PNQBOZT

CVTJOFTT
QMBO
BHSFFE
XJUI
UIF
MFOEFST
VOEFS
UIF
'BDJMJUZ "HSFFNFOU

d "O
FYUFOTJPO
PG
UIF
$PNQBOZT
BCJMJUZ
UP
NBLF
&RVJUZ
$VSF
$POUSJCVUJPOT
UP
QSFWFOU
DFSUBJO
GJOBODJBM
DPWFOBOU
EFGBVMUT UISPVHI
UIF
NBUVSJUZ
EBUF
BOE

d "NFOENFOU
GFFT
PG

NJMMJPO
QBJE
UP
UIF
BHFOU
GPS
UIF
-FOEFST
BOE
#1*
JO
DPOOFDUJPO
XJUI
UIF

("3"

5IF

("3"
XBT
DPOTJEFSFE
B
EFCU
NPEJGJDBUJPO
QVSTVBOU
UP
BQQMJDBCMF
BDDPVOUJOH
HVJEBODF
"T
TVDI
GFFT
QBJE
UP
UIF DSFEJUPST
XFSF
DBQJUBMJ[FE
PO
UIF
$PNQBOZT
DPOTPMJEBUFE
CBMBODF
TIFFU
BT
EFGFSSFE
GJOBODJOH
DPTUT
BOE
GFFT
QBJE
UP
UIF
$PNQBOZT BEWJTPST
BOE
PUIFS
UIJSE
QBSUJFT
XFSF
FYQFOTFE
JO
UIF
$PNQBOZT
TUBUFNFOU
PG
PQFSBUJPOT
GPS
UIF
QFSJPE
FOEFE
%FDFNCFS

 "EEJUJPOBMMZ
BT
B
SFTVMU
PG
UIJT
NPEJGJDBUJPO
UIF
$PNQBOZ
XSPUF
PGG

NJMMJPO
JO
EFGFSSFE
GJOBODJOH
DPTUT
XIJDI
SFQSFTFOUT UIF
QPSUJPO
PG
EFCU
QSFQBJE
CZ
UIF
$PNQBOZ
JO
/PWFNCFS


4VCPSEJOBUFE
-PBO
"HSFFNFOU

*O
+VMZ

UIF
$PNQBOZ
FOUFSFE
JOUP
B
4VCPSEJOBUFE
-PBO
"HSFFNFOU
UIF
a4VCPSEJOBUFE
-PBO
"HSFFNFOUb
XJUI
5IFSNP 'VOEJOH
$PNQBOZ
--$
BO
BGGJMJBUFE
FOUJUZ
UP
5IFSNP
BOE
DFSUBJO
VOBGGJMJBUFE
QBSUJFT
UPHFUIFS
XJUI
5IFSNP
UIF
a-FOEFSTb  6OEFS
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
UIF
-FOEFST
MFOU

NJMMJPO
UP
UIF
$PNQBOZ
GPS
UIF
QSJNBSZ
QVSQPTF
PG
GVOEJOH
UIF +VOF


TDIFEVMFE
QBZNFOU
PG
JOUFSFTU
BOE
QSJODJQBM
VOEFS
UIF
$PNQBOZgT
'BDJMJUZ
"HSFFNFOU
BOE
GPS
DFSUBJO
PUIFS
QVSQPTFT 5IF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
BDDSVFE
JOUFSFTU
BU

QFS
BOOVN
XIJDI
XBT
DBQJUBMJ[FE
BOE
BEEFE
UP
UIF
PVUTUBOEJOH
QSJODJQBM JO
MJFV
PG
DBTI
QBZNFOUT
1SJPS
UP
SFQBZNFOU
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
IBE
BDDSVFE
B
UPUBM
PG

NJMMJPO
*O
/PWFNCFS 
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
XBT
QBJE
JO
GVMM
GSPN
B
QPSUJPO
PG
UIF
QSPDFFET
GSPN
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ TFF
GVSUIFS
EJTDVTTJPO
CFMPX 
5IFSF
XFSF
OP
VOBNPSUJ[FE
EFGFSSFE
GJOBODJOH
DPTUT
PO
UIF
SFQBZNFOU
EFCU

5IF
QBZPGG
PG
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
XBT
DPOTJEFSFE
B
EFCU
FYUJOHVJTINFOU
QVSTVBOU
UP
BQQMJDBCMF
BDDPVOUJOH HVJEBODF
"T
TVDI
GFFT
QBJE
UP
UIF
$PNQBOZT
BEWJTPST
BOE
PUIFS
UIJSE
QBSUJFT
XFSF
DBQJUBMJ[FE
PO
UIF
$PNQBOZT
DPOTPMJEBUFE CBMBODF
TIFFU
BT
EFGFSSFE
GJOBODJOH
DPTUT
BOE
GFFT
QBJE
UP
UIF
$PNQBOZT
DSFEJUPST
JODMVEJOH
UIF
WBMVF
PG
UIF
PSJHJOBM
JTTVF
EJTDPVOU BOE
XBSSBOUT
XFSF
FYQFOTFE
JO
UIF
$PNQBOZT
TUBUFNFOU
PG
PQFSBUJPOT
GPS
UIF
QFSJPE
FOEFE
%FDFNCFS


"EEJUJPOBMMZ
B HBJO
PS
MPTT
PO
FYUJOHVJTINFOU
PG
EFCU
JT
HFOFSBMMZ
SFDPSEFE
VQPO
BO
FYUJOHVJTINFOU
PG
B
EFCU
JOTUSVNFOU
4VDI
HBJO
PS
MPTT
PO FYUJOHVJTINFOU
PG
EFCU
JT
DBMDVMBUFE
BT
UIF
EJGGFSFODF
CFUXFFO
UIF
SFBDRVJTJUJPO
QSJDF
JODMVEJOH
UIF
OFX
4FDPOE
-JFO
5FSN
-PBO 'BDJMJUZ
XBSSBOUT
JTTVFE
UP
UIF
IPMEFST
BOE
GFFT
QBJE
UP
UIF
MFOEFST
BOE
OFU
DBSSZJOH
BNPVOU
PG
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU #BTFE
PO
BO
BTTFTTNFOU
PG
UIF
USBOTBDUJPO
UIF
$PNQBOZ
FTUJNBUFE
UIF
SFBDRVJTJUJPO
QSJDF
UP
CF

NJMMJPO
XIJDI
JT
FRVBM
UP UIF
OFU
DBSSZJOH
WBMVF
PG
UIF
FYUJOHVJTIFE
EFCU
5IFSFGPSF
UIF
$PNQBOZ
EJE
OPU
SFDPSE
B
HBJO
PS
MPTT
PO
FYUJOHVJTINFOU
PG
EFCU 'VSUIFSNPSF
UIF
$PNQBOZ
XBT
SFRVJSFE
UP
SFDPSE
UIF
QPSUJPO
PG
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XIJDI
XBT
VTFE
UP
QBZ
PGG UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
BU
GBJS
WBMVF
BU
JODFQUJPO
5IF
GBJS
WBMVF
XBT
EFUFSNJOFE
CBTFE
PO
WBSJPVT
GBDUPST
BOE
JODMVEFE UIF
WBMVF
PG
UIF
XBSSBOUT
JTTVFE
UP
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
IPMEFST

5IF
$PNQBOZgT
#PBSE
PG
%JSFDUPST
DPOTJEFSFE
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
BOE
UIF
SFMBUFE
USBOTBDUJPOT
BOE
VOBOJNPVTMZ DPODMVEFE
UIBU
UIFZ
DPOTUJUVUF
B
a1FSNJUUFE
'JOBODJOHb
VOEFS
"SUJDMF
&MFWFOUI
PG
UIF
4FDPOE
"NFOEFE
BOE
3FTUBUFE
$FSUJGJDBUF PG
*ODPSQPSBUJPO
PG
UIF
$PNQBOZ

 4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ

*O
/PWFNCFS

UIF
$PNQBOZ
FOUFSFE
JOUP
B

NJMMJPO
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XJUI
5IFSNP
&DIP4UBS $PSQPSBUJPO
BOE
DFSUBJO
PUIFS
VOBGGJMJBUFE
MFOEFST
5IF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
JT
TDIFEVMFE
UP
NBUVSF
JO
/PWFNCFS
 5IF
MPBOT
VOEFS
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
CFBS
JOUFSFTU
BU
B
CMFOEFE
SBUF
PG

QFS
BOOVN
UP
CF
QBJE
JO
LJOE
PS
JO DBTI
BU
UIF
PQUJPO
PG
UIF
$PNQBOZ
TVCKFDU
UP
SFTUSJDUJPOT
JO
UIF
'BDJMJUZ
"HSFFNFOU 

5IF
DBTI
QSPDFFET
GSPN
UIJT
MPBO
XFSF
OFU
PG
B

PS

NJMMJPO
PSJHJOBM
JTTVF
EJTDPVOU
UIF
0*% 
5IF
QPSUJPO
PG
UIJT 0*%
UIBU
XBT
OPU
JODMVEFE
JO
UIF
SFBDRVJTJUJPO
QSJDF
PG
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
TFF
QSFWJPVT
TFDUJPO
XBT
SFDPSEFE
BT B
EFCU
EJTDPVOU
PG

NJMMJPO
5IJT
EFCU
EJTDPVOU
XBT
OFUUFE
BHBJOTU
UIF
QSJODJQBM
BNPVOU
PG
UIF
MPBO
BOE
JT
CFJOH
BDDSFUFE
VTJOH BO
FGGFDUJWF
JOUFSFTU
NFUIPE
UP
JOUFSFTU
FYQFOTF
PWFS
UIF
UFSN
PG
UIF
MPBO

"T
BEEJUJPOBM
DPOTJEFSBUJPO
GPS
UIF
MPBO
UIF
$PNQBOZ
JTTVFE
UIF
MFOEFST
XBSSBOUT
UP
QVSDIBTF

NJMMJPO
TIBSFT
PG
WPUJOH DPNNPO
TUPDL
BU
BO
FYFSDJTF
QSJDF
PG

QFS
TIBSF
5IFTF
XBSSBOUT
FYQJSF
PO
.BSDI


5IF
$PNQBOZ
EFUFSNJOFE
UIBU UIF
XBSSBOUT
XFSF
FRVJUZ
JOTUSVNFOUT
BOE
SFDPSEFE
UIFN
BT
B
QBSU
PG
TUPDLIPMEFSTg
FRVJUZ
5IF
QPSUJPO
PG
UIF
XBSSBOUT
GBJS
WBMVF UIBU
XBT
OPU
JODMVEFE
JO
UIF
SFBDRVJTJUJPO
QSJDF
PG
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
TFF
QSFWJPVT
TFDUJPO
XBT
SFDPSEFE
BT
B
EFCU EJTDPVOU
PG

NJMMJPO
5IJT
EFCU
EJTDPVOU
XBT
OFUUFE
BHBJOTU
UIF
QSJODJQBM
BNPVOU
PG
UIF
MPBO
BOE
JT
CFJOH
BDDSFUFE
VTJOH
BO FGGFDUJWF
JOUFSFTU
NFUIPE
UP
JOUFSFTU
FYQFOTF
PWFS
UIF
UFSN
PG
UIF
MPBO
*O
%FDFNCFS

5IFSNP
FYFSDJTFE

NJMMJPO
XBSSBOUT SFTVMUJOH
JO
DBTI
QSPDFFET
UP
UIF
$PNQBOZ
PG

NJMMJPO

"
QPSUJPO
PG
UIF
QSPDFFET
GSPN
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XBT
VTFE
UP
SFQBZ
BMM
PG
UIF
$PNQBOZgT
4VCPSEJOBUFE
-PBO "HSFFNFOU
5IF
SFNBJOJOH
QSPDFFET
PG
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XFSF
VTFE
UPXBSET
UIF
QSFQBZNFOU
PG
TDIFEVMFE QSJODJQBM
QBZNFOUT
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU

5IF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
DPOUBJOT
DVTUPNBSZ
FWFOUT
PG
EFGBVMU
BOE
SFRVJSFT
UIBU
UIF
$PNQBOZ
TBUJTGZ
WBSJPVT GJOBODJBM
BOE
OPOGJOBODJBM
DPWFOBOUT
6OMFTT
TIPXO
CFMPX
DPWFOBOUT
VOEFS
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
BSF
DPOTJTUFOU XJUI
UIF
DPWFOBOUT
VOEFS
UIF
$PNQBOZT
'BDJMJUZ
"HSFFNFOU
EJTDVTTFE
BCPWF 
5IF
GJOBODJBM
DPWFOBOUT
JO
UIF
4FDPOE
-JFO
5FSN -PBO
'BDJMJUZ
SFRVJSF
UIF
$PNQBOZ
UP

d NBJOUBJO
BU
BMM
UJNFT
B
NJOJNVN
MJRVJEJUZ
CBMBODF
PG

NJMMJPO

d BDIJFWF
GPS
FBDI
QFSJPE
UIF
GPMMPXJOH
NJOJNVN
BEKVTUFE
DPOTPMJEBUFE
&#*5%"
BT
EFGJOFE
JO
UIF
4FDPOE
-JFO
5FSN -PBO
'BDJMJUZ
BNPVOUT
JO
UIPVTBOET 

1FSJPE .JOJNVN
"NPVOU            

d NBJOUBJO
B
NJOJNVN
EFCU
TFSWJDF
DPWFSBHF
SBUJP
PG


d NBJOUBJO
B
NBYJNVN
OFU
EFCU
UP
BEKVTUFE
DPOTPMJEBUFE
&#*5%"
SBUJP
PG

GPS
UIF
%FDFNCFS


NFBTVSFNFOU QFSJPE
EFDSFBTJOH
HSBEVBMMZ
FBDI
TFNJBOOVBM
QFSJPE
VOUJM
UIF
SFRVJSFNFOU
FRVBMT

GPS
UIF
GPVS
TFNJBOOVBM NFBTVSFNFOU
QFSJPET
MFBEJOH
VQ
UP
%FDFNCFS



d NBJOUBJO
B
NJOJNVN
JOUFSFTU
DPWFSBHF
SBUJP
PG

GPS
UIF
%FDFNCFS


NFBTVSFNFOU
QFSJPE
JODSFBTJOH
HSBEVBMMZ FBDI
TFNJBOOVBM
QFSJPE
VOUJM
UIF
SFRVJSFNFOU
FRVBMT

GPS
UIF
UXP
TFNJBOOVBM
NFBTVSFNFOU
QFSJPET
MFBEJOH
VQ
UP %FDFNCFS


BOE

"T
PG
%FDFNCFS


UIF
$PNQBOZ
XBT
JO
DPNQMJBODF
XJUI
UIF
DPWFOBOUT
PG
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ

 5IF
QPSUJPO
PG
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
QSPDFFET
UIBU
XBT
VTFE
UP
SFQBZ
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
XBT DPOTJEFSFE
B
EFCU
FYUJOHVJTINFOU
QVSTVBOU
UP
BQQMJDBCMF
BDDPVOUJOH
HVJEBODF
4FF
EJTDVTTJPO
JO
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU TFDUJPO
BCPWF
GPS
GVSUIFS
JOGPSNBUJPO
5IF
SFNBJOJOH
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XBT
SFDPSEFE
BU
JUT
DBSSZJOH
WBMVF
BU
JODFQUJPO

5IF
$PNQBOZ
FWBMVBUFE
UIF
WBSJPVT
FNCFEEFE
EFSJWBUJWFT
XJUIJO
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
SFMBUFE
UP
DFSUBJO DPOUJOHFOUMZ
FYFSDJTBCMF
QVU
PQUJPOT
%VF
UP
UIF
TVCTUBOUJBM
EJTDPVOU
VQPO
JTTVBODF
BT
DBMDVMBUFE
VOEFS
BQQMJDBCMF
BDDPVOUJOH HVJEBODF
UIFTF
QSFQBZNFOU
GFBUVSFT
XJUIJO
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XFSF
SFRVJSFE
UP
CF
CJGVSDBUFE
BOE
TFQBSBUFMZ WBMVFE
5IF
$PNQBOZ
SFDPSEFE
UIF
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
BT
B
OPODVSSFOU
MJBCJMJUZ
PO
JUT
DPOTPMJEBUFE
CBMBODF TIFFUT
XJUI
B
DPSSFTQPOEJOH
EFCU
EJTDPVOU
XIJDI
JT
OFUUFE
BHBJOTU
UIF
GBDF
WBMVF
PG
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ

5IF
$PNQBOZ
JT
BDDSFUJOH
UIF
EFCU
EJTDPVOU
BTTPDJBUFE
XJUI
UIF
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
UP
JOUFSFTU
FYQFOTF UISPVHI
UIF
NBUVSJUZ
PG
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
VTJOH
BO
FGGFDUJWF
JOUFSFTU
SBUF
NFUIPE
5IF
GBJS
WBMVF
PG
UIF
DPNQPVOE FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
JT
NBSLFEUPNBSLFU
BU
UIF
FOE
PG
FBDI
SFQPSUJOH
QFSJPE
XJUI
BOZ
DIBOHFT
JO
WBMVF
SFQPSUFE
JO
UIF DPOTPMJEBUFE
TUBUFNFOUT
PG
PQFSBUJPOT
5IF
$PNQBOZ
EFUFSNJOFT
UIF
GBJS
WBMVF
PG
UIF
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
VTJOH
B QSPCBCJMJUZ
XFJHIUFE
EJTDPVOUFE
DBTI
GMPX
NPEFM

5IFSNPT
QBSUJDJQBUJPO
JO
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XBT
SFWJFXFE
BOE
BQQSPWFE
PO
UIF
$PNQBOZT
CFIBMG
CZ
UIF 4USBUFHJD
3FWJFX
$PNNJUUFF
XIJDI
JT
B
DPNNJUUFF
PG
EJTJOUFSFTUFE
BOE
JOEFQFOEFOU
EJSFDUPST
XIP
BSF
SFQSFTFOUFE
CZ
JOEFQFOEFOU MFHBM
DPVOTFM
4FF
/PUF

3FMBUFE
1BSUZ
5SBOTBDUJPOT
GPS
GVSUIFS
JOGPSNBUJPO
PO
UIF
SPMF
BOE
SFTQPOTJCJMJUZ
PG
UIF
4USBUFHJD
3FWJFX $PNNJUUFF

5IFSNP
-PBO
"HSFFNFOU
*O
DPOOFDUJPO
XJUI
UIF
BNFOENFOU
BOE
SFTUBUFNFOU
PG
UIF
'BDJMJUZ
"HSFFNFOU
JO
+VMZ

UIF
$PNQBOZ
BNFOEFE
BOE
SFTUBUFE JUT
MPBO
BHSFFNFOU
XJUI
5IFSNP
UIF
a-PBO
"HSFFNFOUb 
"MM
PCMJHBUJPOT
PG
UIF
$PNQBOZ
UP
5IFSNP
VOEFS
UIF
-PBO
"HSFFNFOU BSF
TVCPSEJOBUFE
UP
UIF
$PNQBOZgT
PCMJHBUJPOT
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
BOE
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
5IF
-PBO "HSFFNFOU
JT
DPOWFSUJCMF
JOUP
TIBSFT
PG
DPNNPO
TUPDL
BU
B
DPOWFSTJPO
QSJDF
PG

BT
BEKVTUFE
QFS
TIBSF
PG
DPNNPO
TUPDL

5IF
-PBO
"HSFFNFOU
BDDSVFT
JOUFSFTU
BU

QFS
BOOVN
XIJDI
JT
DBQJUBMJ[FE
BOE
BEEFE
UP
UIF
PVUTUBOEJOH
QSJODJQBM
JO
MJFV
PG DBTI
QBZNFOUT
"T
PG
%FDFNCFS



NJMMJPO
PG
JOUFSFTU
IBE
BDDSVFE
TJODF

XJUI
SFTQFDU
UP
UIF
-PBO
"HSFFNFOU UIF
-PBO
"HSFFNFOU
JT
JODMVEFE
JO
MPOHUFSN
EFCU
PO
UIF
$PNQBOZT
DPOTPMJEBUFE
CBMBODF
TIFFUT
CBTFE
PO
JUT
DPOUSBDUVBM
NBUVSJUZ EBUF

5IF
$PNQBOZ
XJMM
NBLF
QBZNFOUT
UP
5IFSNP
POMZ
XIFO
QFSNJUUFE
CZ
UIF
'BDJMJUZ
"HSFFNFOU
BOE
UIF
4FDPOE
-JFO
5FSN
-PBO 'BDJMJUZ
1SJODJQBM
BOE
JOUFSFTU
VOEFS
UIF
-PBO
"HSFFNFOU
CFDPNF
EVF
BOE
QBZBCMF
TJY
NPOUIT
BGUFS
UIF
PCMJHBUJPOT
VOEFS
UIF 'BDJMJUZ
"HSFFNFOU
IBWF
CFFO
QBJE
JO
GVMM
IPXFWFS
UIF
/PWFNCFS

'JOBODF
%PDVNFOUT
JODMVEJOH
UIF
BNFOEFE
BOE
SFTUBUFE 'BDJMJUZ
"HSFFNFOU
BOE
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
QFSNJU
UIF
DPOWFSTJPO
PG
BMM
BNPVOUT
PVUTUBOEJOH
VOEFS
UIF
-PBO "HSFFNFOU
CZ
+VOF


PS
FBSMJFS
JG
UIF
$PNQBOZ
IBT
B
DIBOHF
JO
DPOUSPM
PS
JG
BOZ
BDDFMFSBUJPO
PG
UIF
NBUVSJUZ
PG
UIF
MPBOT VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
PS
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
PDDVST
*O
DPOOFDUJPO
XJUI
UIF
/PWFNCFS

SFGJOBODJOH 5IFSNP
DPNNJUUFE
UP
DPOWFSU
UIF
UPUBM
QSJODJQBM
CBMBODF
PVUTUBOEJOH
VOEFS
UIF
-PBO
"HSFFNFOU
CZ
.BSDI


PO
'FCSVBSZ 

5IFSNP
DPOWFSUFE
UIF
FOUJSF
QSJODJQBM
CBMBODF
PVUTUBOEJOH
SFTVMUJOH
JO
UIF
JTTVBODF
PG

NJMMJPO
TIBSFT
PG
DPNNPO TUPDL
6QPO
DPOWFSTJPO
UIF
SFNBJOJOH
EFCU
EJTDPVOU
BOE
EFGFSSFE
GJOBODJOH
DPTUT
JT
XSJUUFO
PGG
UISPVHI
UIF
TUBUFNFOU
PG
PQFSBUJPOT BOE
UIF
BTTPDJBUFE
EFSJWBUJWF
MJBCJMJUZ
EJTDVTTFE
CFMPX
JT
NBSLFEUPNBSLFU
BU
UIF
DPOWFSTJPO
EBUF
BOE
UIFO
FYUJOHVJTIFE
UISPVHI UIF
TUBUFNFOU
PG
PQFSBUJPOT

5IF
$PNQBOZ
FWBMVBUFE
UIF
WBSJPVT
FNCFEEFE
EFSJWBUJWFT
XJUIJO
UIF
-PBO
"HSFFNFOU
4FF
/PUF

'BJS
7BMVF
.FBTVSFNFOUT GPS
BEEJUJPOBM
JOGPSNBUJPO
BCPVU
UIF
FNCFEEFE
EFSJWBUJWF
JO
UIF
-PBO
"HSFFNFOU 
5IF
$PNQBOZ
EFUFSNJOFE
UIBU
UIF
DPOWFSTJPO PQUJPO
BOE
UIF
DPOUJOHFOU
QVU
GFBUVSF
VQPO
B
GVOEBNFOUBM
DIBOHF
SFRVJSFE
CJGVSDBUJPO
GSPN
UIF
-PBO
"HSFFNFOU
5IF
DPOWFSTJPO PQUJPO
BOE
UIF
DPOUJOHFOU
QVU
GFBUVSF
XFSF
OPU
EFFNFE
DMFBSMZ
BOE
DMPTFMZ
SFMBUFE
UP
UIF
-PBO
"HSFFNFOU
BOE
XFSF
TFQBSBUFMZ BDDPVOUFE
GPS
BT
B
TUBOEBMPOF
EFSJWBUJWF
5IF
$PNQBOZ
SFDPSEFE
UIJT
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
BT
B
OPODVSSFOU MJBCJMJUZ
PO
JUT
DPOTPMJEBUFE
CBMBODF
TIFFUT
XJUI
B
DPSSFTQPOEJOH
EFCU
EJTDPVOU
XIJDI
JT
OFUUFE
BHBJOTU
UIF
GBDF
WBMVF
PG
UIF
-PBO "HSFFNFOU

5IF
$PNQBOZ
JT
BDDSFUJOH
UIF
EFCU
EJTDPVOU
BTTPDJBUFE
XJUI
UIF
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
UP
JOUFSFTU
FYQFOTF UISPVHI
UIF
NBUVSJUZ
PG
UIF
-PBO
"HSFFNFOU
VTJOH
BO
FGGFDUJWF
JOUFSFTU
SBUF
NFUIPE
5IF
TUBUFE
NBUVSJUZ
JT
VTFE
BT
UIF
FYQFDUFE UFSN
GPS
QVSQPTFT
PG
BNPSUJ[JOH
UIF
EFCU
EJTDPVOU
EFTQJUF
UIF
$PNQBOZT
FYQFDUBUJPO
PG
BO
FBSMJFS
DPOWFSTJPO
BT
PG
%FDFNCFS
 
CBTFE
PO
UIF
BQQMJDBCMF
BDDPVOUJOH
SVMFT
5IF
GBJS
WBMVF
PG
UIF
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
JT
NBSLFEUPNBSLFU

 BU
UIF
FOE
PG
FBDI
SFQPSUJOH
QFSJPE
PS
VQPO
DPOWFSTJPO
XJUI
BOZ
DIBOHFT
JO
WBMVF
SFQPSUFE
JO
UIF
DPOTPMJEBUFE
TUBUFNFOUT
PG PQFSBUJPOT
5IF
$PNQBOZ
EFUFSNJOFT
UIF
GBJS
WBMVF
PG
UIF
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
VTJOH
B
.POUF
$BSMP
TJNVMBUJPO
NPEFM


$POWFSUJCMF
4FOJPS
/PUFT
*TTVFE
JO

*O
.BZ

UIF
$PNQBOZ
JTTVFE

NJMMJPO
BHHSFHBUF
QSJODJQBM
BNPVOU
PG
JUT


/PUFT
5IF


/PUFT BSF
DPOWFSUJCMF
JOUP
TIBSFT
PG
DPNNPO
TUPDL
BU
B
DPOWFSTJPO
QSJDF
PG

QFS
TIBSF
PG
DPNNPO
TUPDL
BT
BEKVTUFE
QVSTVBOU
UP UIF
UFSNT
PG
UIF
'PVSUI
4VQQMFNFOUBM
*OEFOUVSF
CFUXFFO
UIF
$PNQBOZ
BOE
64
#BOL
/BUJPOBM
"TTPDJBUJPO
BT
5SVTUFF
UIF a*OEFOUVSFb 
5IF


/PUFT
BSF
TFOJPS
VOTFDVSFE
EFCU
PCMJHBUJPOT
UIBU
XJMM
NBUVSF
PO
"QSJM


TVCKFDU
UP
WBSJPVT DBMM
BOE
QVU
GFBUVSFT
BOE
CFBS
JOUFSFTU
BU
B
SBUF
PG

QFS
BOOVN
*OUFSFTU
JT
QBJE
JO
DBTI
BU
B
SBUF
PG

BOE
JO
BEEJUJPOBM OPUFT
BU
B
SBUF
PG

4JODF
JTTVBODF

NJMMJPO
PG
QSJODJQBM
BNPVOU
PG
UIF


/PUFT
IBWF
CFFO
DPOWFSUFE
OP BNPVOU
XBT
DPOWFSUFE
EVSJOH


4VCKFDU
UP
DFSUBJO
DPOEJUJPOT
TFU
GPSUI
JO
UIF
*OEFOUVSF
UIF
$PNQBOZ
NBZ
SFEFFN
UIF


/PUFT
XJUI
UIF
QSJPS
BQQSPWBM PG
UIF
NBKPSJUZ
MFOEFST
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
BOE
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
JO
XIPMF
PS
JO
QBSU
BU
B
QSJDF
FRVBM UP
UIF
QSJODJQBM
BNPVOU
PG
UIF


/PUFT
UP
CF
SFEFFNFE
QMVT
BMM
BDDSVFE
BOE
VOQBJE
JOUFSFTU
UIFSFPO
"T
PG
%FDFNCFS
 
UIF


/PUFT
IBWF
OPU
CFFO
SFEFFNFE
CZ
UIF
$PNQBOZ
"
IPMEFS
PG
UIF


/PUFT
IBT
UIF
SJHIU
BU
UIF
IPMEFSgT
PQUJPO
UP
SFRVJSF
UIF
$PNQBOZ
UP
QVSDIBTF
TPNF
PS
BMM
PG
UIF 

/PUFT
IFME
CZ
JU
PO
"QSJM


PS
BU
BOZ
UJNF
JG
UIFSF
JT
B
'VOEBNFOUBM
$IBOHF
BT
EFGJOFE
JO
UIF
*OEFOUVSF
BU
B QSJDF
FRVBM
UP
UIF
QSJODJQBM
BNPVOU
PG
UIF


/PUFT
UP
CF
QVSDIBTFE
QMVT
BDDSVFE
BOE
VOQBJE
JOUFSFTU
4VCKFDU
UP
UIF QSPDFEVSFT
GPS
DPOWFSTJPO
BOE
PUIFS
UFSNT
BOE
DPOEJUJPOT
PG
UIF
*OEFOUVSF
B
IPMEFS
NBZ
DPOWFSU
JUT


/PUFT
BU
JUT
PQUJPO BU
BOZ
UJNF
QSJPS
UP
"QSJM


JOUP
TIBSFT
PG
DPNNPO
TUPDL
PS
BU
UIF
PQUJPO
PG
UIF
$PNQBOZ
DBTI
JO
MJFV
PG
BMM
PS
B
QPSUJPO UIFSFPG
QSPWJEFE
UIBU
VOEFS
UIF
'BDJMJUZ
"HSFFNFOU
BOE
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
UIF
$PNQBOZ
NBZ
QBZ
DBTI
POMZ XJUI
UIF
DPOTFOU
PG
UIF
NBKPSJUZ
MFOEFST 

5IF
*OEFOUVSF
QSPWJEFT
GPS
DVTUPNBSZ
FWFOUT
PG
EFGBVMU
*G
UIFSF
JT
BO
FWFOU
PG
EFGBVMU
UIF
5SVTUFF
NBZ
BU
UIF
EJSFDUJPO
PG
UIF IPMEFST
PG

PS
NPSF
JO
BHHSFHBUF
QSJODJQBM
BNPVOU
PG
UIF


/PUFT
BDDFMFSBUF
UIF
NBUVSJUZ
PG
UIF


/PUFT "T
PG
%FDFNCFS


UIF
$PNQBOZ
XBT
JO
DPNQMJBODF
XJUI
SFTQFDU
UP
UIF
UFSNT
PG
UIF


/PUFT
BOE
UIF
*OEFOUVSF
5IF
$PNQBOZ
FWBMVBUFE
UIF
WBSJPVT
FNCFEEFE
EFSJWBUJWFT
XJUIJO
UIF
*OEFOUVSF
GPS
UIF


/PUFT
5IF
$PNQBOZ EFUFSNJOFE
UIBU
UIF
DPOWFSTJPO
PQUJPO
BOE
UIF
DPOUJOHFOU
QVU
GFBUVSF
XJUIJO
UIF
*OEFOUVSF
SFRVJSFE
CJGVSDBUJPO
GSPN
UIF
 
/PUFT
5IF
$PNQBOZ
EJE
OPU
EFFN
UIF
DPOWFSTJPO
PQUJPO
BOE
UIF
DPOUJOHFOU
QVU
GFBUVSF
UP
CF
DMFBSMZ
BOE
DMPTFMZ
SFMBUFE UP
UIF


/PUFT
BOE
TFQBSBUFMZ
BDDPVOUFE
GPS
UIFN
BT
B
TUBOEBMPOF
EFSJWBUJWF
5IF
$PNQBOZ
SFDPSEFE
UIJT
DPNQPVOE FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
BT
B
MJBCJMJUZ
PO
JUT
DPOTPMJEBUFE
CBMBODF
TIFFUT
XJUI
B
DPSSFTQPOEJOH
EFCU
EJTDPVOU
XIJDI
XBT
OFUUFE BHBJOTU
UIF
GBDF
WBMVF
PG
UIF


/PUFT
5IF
EFCU
EJTDPVOU
BTTPDJBUFE
XJUI
UIF
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ IBT
CFFO
GVMMZ
BDDSFUFE
BT
PG
4FQUFNCFS


GPMMPXJOH
TJHOJGJDBOU
DPOWFSTJPOT
JO
"VHVTU

5IF
$PNQBOZ
JT
NBSLJOH
UP NBSLFU
UIF
GBJS
WBMVF
PG
UIF
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
BU
UIF
FOE
PG
FBDI
SFQPSUJOH
QFSJPE
PS
NPSF
GSFRVFOUMZ
BT EFFNFE
OFDFTTBSZ
XJUI
BOZ
DIBOHFT
JO
WBMVF
SFQPSUFE
JO
UIF
DPOTPMJEBUFE
TUBUFNFOUT
PG
PQFSBUJPOT
5IF
$PNQBOZ
EFUFSNJOFT
UIF GBJS
WBMVF
PG
UIF
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
VTJOH
B
.POUF
$BSMP
TJNVMBUJPO
NPEFM
%FCU
NBUVSJUJFT
"OOVBM
EFCU
NBUVSJUJFT
GPS
FBDI
PG
UIF
GJWF
ZFBST
GPMMPXJOH
%FDFNCFS


BOE
UIFSFBGUFS
BSF
BT
GPMMPXT
JO
UIPVTBOET   k           k 5IFSFBGUFS   5PUBM   
"NPVOUT
JO
UIF
BCPWF
UBCMF
BSF
DBMDVMBUFE
CBTFE
PO
BNPVOUT
PVUTUBOEJOH
BU
%FDFNCFS


BOE
UIFSFGPSF
FYDMVEF
QBJE JOLJOE
JOUFSFTU
QBZNFOUT
UIBU
XJMM
CF
NBEF
JO
GVUVSF
QFSJPET
0O
'FCSVBSZ


5IFSNP
DPOWFSUFE
JOUP
TIBSFT
PG
DPNNPO
TUPDL
UIF
QSJODJQBM
BNPVOU
PVUTUBOEJOH
VOEFS
UIF
-PBO "HSFFNFOU
IPXFWFS
UIF
NBUVSJUZ
PG
UIF
-PBO
"HSFFNFOU
JT
TIPXO
JO

JO
UIF
UBCMF
BCPWF
DPOTJTUFOU
XJUI
JUT
DPOUSBDUVBM
MJGF

 
%&3*7"5*7&4
*O
DPOOFDUJPO
XJUI
DFSUBJO
FYJTUJOH
CPSSPXJOH
BSSBOHFNFOUT
UIF
$PNQBOZ
XBT
SFRVJSFE
UP
SFDPSE
EFSJWBUJWF
JOTUSVNFOUT
PO JUT
DPOTPMJEBUFE
CBMBODF
TIFFUT
/POF
PG
UIFTF
EFSJWBUJWF
JOTUSVNFOUT
BSF
EFTJHOBUFE
BT
B
IFEHF
5IF
GPMMPXJOH
UBCMF
EJTDMPTFT
UIF GBJS
WBMVFT
PG
UIF
EFSJWBUJWF
JOTUSVNFOUT
PO
UIF
$PNQBOZgT
DPOTPMJEBUFE
CBMBODF
TIFFUT
JO
UIPVTBOET 
%FDFNCFS
 %FDFNCFS
   %FSJWBUJWF
MJBCJMJUJFT $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF


/PUFT     $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF
-PBO
"HSFFNFOU
XJUI
5IFSNP     $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ   k 5PUBM
EFSJWBUJWF
MJBCJMJUJFT      
5IF
GPMMPXJOH
UBCMF
EJTDMPTFT
UIF
DIBOHFT
JO
WBMVF
SFDPSEFE
BT
B
EFSJWBUJWF
HBJO
JO
UIF
$PNQBOZgT
DPOTPMJEBUFE
TUBUFNFOU
PG PQFSBUJPOT
JO
UIPVTBOET 
:FBS
FOEFE
%FDFNCFS
    *OUFSFTU
SBUF
DBQ  k  k   $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF


/PUFT     $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF
-PBO
"HSFFNFOU
XJUI
5IFSNP       5PUBM
EFSJWBUJWF
HBJO         
*OUBOHJCMF
BOE
0UIFS
"TTFUT
*OUFSFTU
3BUF
$BQ
*O
+VOF

JO
DPOOFDUJPO
XJUI
FOUFSJOH
JOUP
UIF
'BDJMJUZ
"HSFFNFOU
VOEFS
XIJDI
JOUFSFTU
BDDSVFT
BU
B
WBSJBCMF
SBUF
UIF $PNQBOZ
FOUFSFE
JOUP
GJWF
UFOZFBS
JOUFSFTU
SBUF
DBQ
BHSFFNFOUT
XIJDI
NBUVSFE
JO
%FDFNCFS

5IF
JOUFSFTU
SBUF
DBQ
BHSFFNFOUT SFGMFDU
B
WBSJBCMF
OPUJPOBM
BNPVOU
BU
JOUFSFTU
SBUFT
UIBU
QSPWJEF
DPWFSBHF
UP
UIF
$PNQBOZ
GPS
FYQPTVSF
SFTVMUJOH
GSPN
FTDBMBUJOH JOUFSFTU
SBUFT
PWFS
UIF
UFSN
PG
UIF
'BDJMJUZ
"HSFFNFOU
5IF
JOUFSFTU
SBUF
DBQ
QSPWJEFT
MJNJUT
PO
UIF
TJYNPOUI
-JCPS
SBUF
a#BTF 3BUFb
VTFE
UP
DBMDVMBUF
UIF
DPVQPO
JOUFSFTU
PO
PVUTUBOEJOH
BNPVOUT
PO
UIF
'BDJMJUZ
"HSFFNFOU
BOE
JT
DBQQFE
BU

TIPVME
UIF #BTF
3BUF
OPU
FYDFFE

4IPVME
UIF
#BTF
3BUF
FYDFFE

UIF
$PNQBOZgT
#BTF
3BUF
XJMM
CF

MFTT
UIBO
UIF
UIFO
TJYNPOUI -JCPS
SBUF
5IF
$PNQBOZ
QBJE
BO
BQQSPYJNBUFMZ

NJMMJPO
VQGSPOU
GFF
GPS
UIF
JOUFSFTU
SBUF
DBQ
BHSFFNFOUT
5IF
JOUFSFTU
SBUF DBQ
EJE
OPU
RVBMJGZ
GPS
IFEHF
BDDPVOUJOH
USFBUNFOU
BOE
DIBOHFT
JO
UIF
GBJS
WBMVF
PG
UIF
BHSFFNFOUT
BSF
JODMVEFE
JO
UIF
DPOTPMJEBUFE TUBUFNFOUT
PG
PQFSBUJPOT
5IF
WBMVF
PG
UIF
JOUFSFTU
SBUF
DBQ
XBT
[FSP
BT
PG
CPUI
%FDFNCFS


BOE
%FDFNCFS


%FSJWBUJWF
-JBCJMJUJFT
5IF
$PNQBOZ
IBT
JEFOUJGJFE
WBSJPVT
FNCFEEFE
EFSJWBUJWFT
SFTVMUJOH
GSPN
DFSUBJO
GFBUVSFT
JO
UIF
$PNQBOZgT
EFCU
JOTUSVNFOUT JODMVEJOH
UIF
DPOWFSTJPO
PQUJPO
BOE
UIF
DPOUJOHFOU
QVU
GFBUVSF
XJUIJO
CPUI
UIF


/PUFT
BOE
UIF
-PBO
"HSFFNFOU
XJUI 5IFSNP
BT
XFMM
BT
DFSUBJO
DPOUJOHFOUMZ
FYFSDJTBCMF
QVU
GFBUVSFT
XJUIJO
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
5IF
GBJS
WBMVF
PG
FBDI FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
JT
NBSLFEUPNBSLFU
BU
UIF
FOE
PG
FBDI
SFQPSUJOH
QFSJPE
PS
NPSF
GSFRVFOUMZ
BT
EFFNFE
OFDFTTBSZ XJUI
BOZ
DIBOHFT
JO
WBMVF
SFQPSUFE
JO
JUT
DPOTPMJEBUFE
TUBUFNFOUT
PG
PQFSBUJPOT
BOE
JUT
DPOTPMJEBUFE
TUBUFNFOUT
PG
DBTI
GMPXT
BT BO
PQFSBUJOH
BDUJWJUZ
5IF
$PNQBOZ
DMBTTJGJFT
JUT
EFSJWBUJWF
MJBCJMJUJFT
DPOTJTUFOU
XJUI
UIF
DMBTTJGJDBUJPO
PG
UIF
VOEFSMZJOH
EFCU
PO UIF
$PNQBOZT
DPOTPMJEBUFE
CBMBODF
TIFFU
4FF
/PUF

'BJS
7BMVF
.FBTVSFNFOUT
GPS
GVSUIFS
EJTDVTTJPO
&BDI
MJBCJMJUZ
BOE
UIF GFBUVSFT
FNCFEEFE
JO
UIF
EFCU
JOTUSVNFOU
XIJDI
SFRVJSFE
UIF
$PNQBOZ
UP
BDDPVOU
GPS
UIF
JOTUSVNFOU
BT
B
EFSJWBUJWF
BSF
EFTDSJCFE CFMPX

 $PNQPVOE
&NCFEEFE
%FSJWBUJWF
XJUI


/PUFT
"T
B
SFTVMU
PG
UIF
DPOWFSTJPO
PQUJPO
BOE
UIF
DPOUJOHFOU
QVU
GFBUVSF
XJUIJO
UIF


/PUFT
UIF
$PNQBOZ
SFDPSEFE
B DPNQPVOE
FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
PO
JUT
DPOTPMJEBUFE
CBMBODF
TIFFUT
XJUI
B
DPSSFTQPOEJOH
EFCU
EJTDPVOU
UIBU
JT
OFUUFE
BHBJOTU UIF
GBDF
WBMVF
PG
UIF


/PUFT
5IF
$PNQBOZ
EFUFSNJOFE
UIF
GBJS
WBMVF
PG
UIF
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ VTJOH
B
.POUF
$BSMP
TJNVMBUJPO
NPEFM
5IF
$PNQBOZ
DMBTTJGJFT
UIJT
EFSJWBUJWF
MJBCJMJUZ
DPOTJTUFOU
XJUI
UIF
DMBTTJGJDBUJPO
PG
UIF 

/PUFT
PO
UIF
$PNQBOZT
DPOTPMJEBUFE
CBMBODF
TIFFU
$PNQPVOE
&NCFEEFE
%FSJWBUJWF
XJUI
UIF
-PBO
"HSFFNFOU
XJUI
5IFSNP
"T
B
SFTVMU
PG
UIF
DPOWFSTJPO
PQUJPO
BOE
UIF
DPOUJOHFOU
QVU
GFBUVSF
XJUIJO
UIF
-PBO
"HSFFNFOU
XJUI
5IFSNP
BT
BNFOEFE
BOE SFTUBUFE
JO

UIF
$PNQBOZ
SFDPSEFE
B
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
PO
JUT
DPOTPMJEBUFE
CBMBODF
TIFFUT
XJUI
B DPSSFTQPOEJOH
EFCU
EJTDPVOU
UIBU
JT
OFUUFE
BHBJOTU
UIF
GBDF
WBMVF
PG
UIF
-PBO
"HSFFNFOU
5IF
$PNQBOZ
EFUFSNJOFE
UIF
GBJS
WBMVF PG
UIF
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
VTJOH
B
.POUF
$BSMP
TJNVMBUJPO
NPEFM

$PNQPVOE
&NCFEEFE
%FSJWBUJWF
XJUI
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ

"T
B
SFTVMU
PG
DFSUBJO
DPOUJOHFOUMZ
FYFSDJTBCMF
QVU
GFBUVSFT
XJUIJO
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
UIF
$PNQBOZ
SFDPSEFE B
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
PO
JUT
DPOTPMJEBUFE
CBMBODF
TIFFU
XJUI
B
DPSSFTQPOEJOH
EFCU
EJTDPVOU
UIBU
JT
OFUUFE BHBJOTU
UIF
GBDF
WBMVF
PG
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
5IF
$PNQBOZ
EFUFSNJOFE
UIF
GBJS
WBMVF
PG
UIF
DPNQPVOE
FNCFEEFE EFSJWBUJWF
MJBCJMJUZ
VTJOH
B
QSPCBCJMJUZ
XFJHIUFE
EJTDPVOUFE
DBTI
GMPX
NPEFM


'"*3
7"-6&
.&"463&.&/54

5IF
$PNQBOZ
GPMMPXT
UIF
BVUIPSJUBUJWF
HVJEBODF
GPS
GBJS
WBMVF
NFBTVSFNFOUT
SFMBUJOH
UP
GJOBODJBM
BOE
OPOGJOBODJBM
BTTFUT BOE
MJBCJMJUJFT
JODMVEJOH
QSFTFOUBUJPO
PG
SFRVJSFE
EJTDMPTVSFT
IFSFJO

5IJT
HVJEBODF
FTUBCMJTIFT
B
GBJS
WBMVF
GSBNFXPSL
SFRVJSJOH UIF
DBUFHPSJ[BUJPO
PG
BTTFUT
BOE
MJBCJMJUJFT
JOUP
UISFF
MFWFMT
CBTFE
VQPO
UIF
BTTVNQUJPOT
JOQVUT
VTFE
UP
QSJDF
UIF
BTTFUT
BOE MJBCJMJUJFT

-FWFM

QSPWJEFT
UIF
NPTU
SFMJBCMF
NFBTVSF
PG
GBJS
WBMVF
XIFSFBT
-FWFM

HFOFSBMMZ
SFRVJSFT
TJHOJGJDBOU
NBOBHFNFOU KVEHNFOU

5IF
UISFF
MFWFMT
BSF
EFGJOFE
BT
GPMMPXT
-FWFM

6OBEKVTUFE
RVPUFE
QSJDFT
JO
BDUJWF
NBSLFUT
UIBU
BSF
BDDFTTJCMF
BU
UIF
NFBTVSFNFOU
EBUF
GPS
JEFOUJDBM
BTTFUT
PS
MJBCJMJUJFT
-FWFM

2VPUFE
QSJDFT
JO
NBSLFUT
UIBU
BSF
OPU
BDUJWF
PS
JOQVUT
XIJDI
BSF
PCTFSWBCMF
FJUIFS
EJSFDUMZ
PS
JOEJSFDUMZ
GPS
TVCTUBOUJBMMZ UIF
GVMM
UFSN
PG
UIF
BTTFU
PS
MJBCJMJUZ
-FWFM

1SJDFT
PS
WBMVBUJPO
UFDIOJRVFT
UIBU
SFRVJSF
JOQVUT
UIBU
BSF
CPUI
TJHOJGJDBOU
UP
UIF
GBJS
WBMVF
NFBTVSFNFOU
BOE
VOPCTFSWBCMF JF
TVQQPSUFE
CZ
MJUUMF
PS
OP
NBSLFU
BDUJWJUZ 
3FDVSSJOH
'BJS
7BMVF
.FBTVSFNFOUT
5IF
GPMMPXJOH
UBCMFT
QSPWJEF
B
TVNNBSZ
PG
UIF
MJBCJMJUJFT
NFBTVSFE
BU
GBJS
WBMVF
PO
B
SFDVSSJOH
CBTJT
JO
UIPVTBOET 
'BJS
7BMVF
.FBTVSFNFOUT
BU
%FDFNCFS

 5PUBM -FWFM
 -FWFM
 -FWFM

#BMBODF -JBCJMJUJFT $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF

 /PUFT  k  k     $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF
-PBO "HSFFNFOU
XJUI
5IFSNP k k     $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF
4FDPOE
-JFO 5FSN
-PBO
'BDJMJUZ k  k     5PUBM
MJBCJMJUJFT
NFBTVSFE
BU
GBJS
WBMVF  k  k      
'BJS
7BMVF
.FBTVSFNFOUT
BU
%FDFNCFS

 5PUBM -FWFM
 -FWFM
 -FWFM

#BMBODF

 -JBCJMJUJFT $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF

 /PUFT  k  k     $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF
-PBO "HSFFNFOU
XJUI
5IFSNP k k     5PUBM
MJBCJMJUJFT
NFBTVSFE
BU
GBJS
WBMVF  k  k      

"TTFUT
*OUFSFTU
3BUF
$BQ
5IF
GBJS
WBMVF
PG
UIF
JOUFSFTU
SBUF
DBQ
JT
EFUFSNJOFE
VTJOH
PCTFSWBCMF
QSJDJOH
JOQVUT
JODMVEJOH
CFODINBSL
ZJFMET
SFQPSUFE USBEFT
BOE
CSPLFSEFBMFS
RVPUFT
BU
UIF
SFQPSUJOH
EBUF
"T
QSFWJPVTMZ
EJTDMPTFE
UIF
WBMVF
PG
UIF
JOUFSFTU
SBUF
DBQ
XBT
[FSP
BT
PG CPUI
%FDFNCFS


BOE
%FDFNCFS


BDDPSEJOHMZ
UIF
JOUFSFTU
SBUF
DBQ
JT
OPU
SFGMFDUFE
JO
UIF
UBCMFT
BCPWF
4FF
/PUF 
%FSJWBUJWFT
GPS
GVSUIFS
EJTDVTTJPO

-JBCJMJUJFT

5IF
$PNQBOZ
IBT
UISFF
EFSJWBUJWF
MJBCJMJUJFT
DMBTTJGJFE
BT
-FWFM

5IF
$PNQBOZ
NBSLTUPNBSLFU
UIFTF
MJBCJMJUJFT
BU
FBDI SFQPSUJOH
EBUF
PS
NPSF
GSFRVFOUMZ
BT
EFFNFE
OFDFTTBSZ
XJUI
UIF
DIBOHFT
JO
GBJS
WBMVF
SFDPHOJ[FE
JO
UIF
$PNQBOZgT
DPOTPMJEBUFE TUBUFNFOUT
PG
PQFSBUJPOT
4FF
/PUF

%FSJWBUJWFT
GPS
GVSUIFS
EJTDVTTJPO
%FSJWBUJWF
-JBCJMJUJFT



/PUFT
BOE
-PBO
"HSFFNFOU
XJUI
5IFSNP

5IF
TJHOJGJDBOU
RVBOUJUBUJWF
-FWFM

JOQVUT
VUJMJ[FE
JO
UIF
WBMVBUJPO
NPEFMT
BSF
TIPXO
JO
UIF
UBCMFT
CFMPX

%FDFNCFS

 /PUF .BSLFU
1SJDF 4UPDL
1SJDF 3JTL'SFF $POWFSTJPO %JTDPVOU
PG
$PNNPO

7PMBUJMJUZ *OUFSFTU
3BUF 1SJDF 3BUF 4UPDL $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF
 
/PUFT 

     $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF
-PBO "HSFFNFOU
XJUI
5IFSNP 

    

%FDFNCFS

 /PUF .BSLFU
1SJDF 4UPDL
1SJDF 3JTL'SFF $POWFSTJPO %JTDPVOU
PG
$PNNPO
7PMBUJMJUZ *OUFSFTU
3BUF
1SJDF 3BUF 4UPDL $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF
 
/PUFT 

     $PNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF
-PBO "HSFFNFOU
XJUI
5IFSNP 

    

'MVDUVBUJPO
JO
UIF
$PNQBOZgT
TUPDL
QSJDF
JT
B
TJHOJGJDBOU
ESJWFS
PG
UIF
DIBOHFT
JO
UIF
EFSJWBUJWF
WBMVBUJPOT
EVSJOH
FBDI
SFQPSUJOH QFSJPE
5IF
$PNQBOZgT
TUPDL
QSJDF
EFDSFBTFE

GSPN
%FDFNCFS


UP
%FDFNCFS


"T
UIF
TUPDL
QSJDF
EFDSFBTFT UIF
WBMVF
UP
UIF
IPMEFS
PG
UIF
JOTUSVNFOU
HFOFSBMMZ
EFDSFBTFT
UIFSFCZ
EFDSFBTJOH
UIF
MJBCJMJUZ
PO
UIF
$PNQBOZgT
DPOTPMJEBUFE CBMBODF
TIFFUT
4UPDL
QSJDF
WPMBUJMJUZ
JT
BOPUIFS
TJHOJGJDBOU
VOPCTFSWBCMF
JOQVU
VTFE
JO
UIF
GBJS
WBMVF
NFBTVSFNFOU
PG
FBDI
PG
UIF $PNQBOZgT
EFSJWBUJWF
JOTUSVNFOUT
5IF
TJNVMBUFE
GBJS
WBMVF
PG
UIFTF
MJBCJMJUJFT
JT
TFOTJUJWF
UP
DIBOHFT
JO
UIF
FYQFDUFE
WPMBUJMJUZ PG
UIF
$PNQBOZgT
TUPDL
QSJDF
%FDSFBTFT
JO
FYQFDUFE
WPMBUJMJUZ
XPVME
HFOFSBMMZ
SFTVMU
JO
B
MPXFS
GBJS
WBMVF
NFBTVSFNFOU
1SPCBCJMJUZ
PG
B
DIBOHF
PG
DPOUSPM
JT
BOPUIFS
TJHOJGJDBOU
VOPCTFSWBCMF
JOQVU
VTFE
JO
UIF
GBJS
WBMVF
NFBTVSFNFOU
PG
UIF
$PNQBOZgT EFSJWBUJWF
JOTUSVNFOUT
4VCKFDU
UP
DFSUBJO
SFTUSJDUJPOT
JO
FBDI
JOEFOUVSF
UIF
$PNQBOZgT
EFCU
JOTUSVNFOUT
DPOUBJO
DFSUBJO
QSPWJTJPOT XIFSFCZ
IPMEFST
NBZ
SFRVJSF
UIF
$PNQBOZ
UP
QVSDIBTF
BMM
PS
BOZ
QPSUJPO
PG
UIF
DPOWFSUJCMF
EFCU
JOTUSVNFOU
VQPO
B
DIBOHF
PG DPOUSPM
"
DIBOHF
PG
DPOUSPM
XJMM
PDDVS
VQPO
DFSUBJO
DIBOHFT
JO
UIF
PXOFSTIJQ
PG
UIF
$PNQBOZ
PS
DFSUBJO
FWFOUT
SFMBUJOH
UP
UIF USBEJOH
PG
UIF
$PNQBOZgT
DPNNPO
TUPDL
5IF
TJNVMBUFE
GBJS
WBMVF
PG
UIF
EFSJWBUJWF
MJBCJMJUJFT
BCPWF
JT
TFOTJUJWF
UP
DIBOHFT
JO UIF
BTTVNFE
QSPCBCJMJUJFT
PG
B
DIBOHF
PG
DPOUSPM
*ODSFBTFT
JO
UIF
BTTVNFE
QSPCBCJMJUZ
PG
B
DIBOHF
PG
DPOUSPM
JO
UIF
TIPSUUFSN

 XPVME
HFOFSBMMZ
SFTVMU
JO
B
MPXFS
GBJS
WBMVF
NFBTVSFNFOU
XIJMF
JODSFBTFT
JO
UIF
BTTVNFE
QSPCBCJMJUZ
PG
B
DIBOHF
JO
DPOUSPM
JO UIF
MPOHUFSN
XPVME
HFOFSBMMZ
SFTVMU
JO
B
IJHIFS
GBJS
WBMVF
NFBTVSFNFOU

&YQFDUFE
UFSN
JT
BOPUIFS
TJHOJGJDBOU
JOQVU
VTFE
JO
UIF
GBJS
WBMVF
NFBTVSFNFOU
PG
UIF
$PNQBOZT
EFSJWBUJWF
JOTUSVNFOUT
"T QSFWJPVTMZ
EJTDVTTFE
JO
/PWFNCFS

UIF
$PNQBOZ
DPNQMFUFE
UIF
SFGJOBODJOH
PG
JUT
EFCU
PCMJHBUJPOT
*O
DPOOFDUJPO
XJUI
UIJT SFGJOBODJOH
5IFSNP
DPNNJUUFE
UP
DPOWFSU
UIF
UPUBM
QSJODJQBM
CBMBODF
PVUTUBOEJOH
VOEFS
UIF
-PBO
"HSFFNFOU
CZ
.BSDI

 PO
'FCSVBSZ


5IFSNP
DPOWFSUFE
UIF
FOUJSF
QSJODJQBM
CBMBODF
PVUTUBOEJOH
SFTVMUJOH
JO
UIF
JTTVBODF
PG

NJMMJPO
TIBSFT PG
DPNNPO
TUPDL
'PS
UIF
WBMVBUJPO
PG
UIF
BTTPDJBUFE
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
UIJT
QSPCBCJMJUZ
PG
DPOWFSTJPO
XBT
NPEFMFE JOUP
UIF
WBMVBUJPO
BT
PG
%FDFNCFS


XIJDI
SFTVMUFE
JO
B
SFEVDUJPO
PG
UIF
EFSJWBUJWF
WBMVF
EVSJOH


*O
BEEJUJPO
UP
UIF
JOQVUT
EFTDSJCFE
BCPWF
UIF
WBMVBUJPO
NPEFM
VTFE
UP
DBMDVMBUF
UIF
GBJS
WBMVF
NFBTVSFNFOU
PG
UIF
DPNQPVOE FNCFEEFE
EFSJWBUJWFT
XJUIJO
UIF
$PNQBOZgT


/PUFT
BOE
-PBO
"HSFFNFOU
XJUI
5IFSNP
JODMVEFE
UIF
GPMMPXJOH
JOQVUT BOE
GFBUVSFT
QBZNFOU
JO
LJOE
JOUFSFTU
QBZNFOUT
NBLF
XIPMF
QSFNJVNT
B
EBZ
TUPDL
JTTVBODF
TFUUMFNFOU
QFSJPE
VQPO DPOWFSTJPO
BOE
UIF
QSJODJQBM
CBMBODF
PG
FBDI
MPBO
BU
UIF
CBMBODF
TIFFU
EBUF
5IFSF
BSF
BMTP
DFSUBJO
QVU
BOE
DBMM
GFBUVSFT
XJUIJO UIF


/PUFT
UIBU
JNQBDU
UIF
WBMVBUJPO
NPEFM

%FSJWBUJWF
-JBCJMJUJFT

4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ

5IF
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
JT
WBMVFE
VTJOH
B
QSPCBCJMJUZ
XFJHIUFE EJTDPVOUFE
DBTI
GMPX
NPEFM
5IF
TJHOJGJDBOU
VOPCTFSWBCMF
JOQVUT
VTFE
JO
UIF
GBJS
WBMVF
NFBTVSFNFOU
JODMVEF
FTUJNBUFE
UJNJOH BOE
BNPVOUT
PG
DBTI
GMPXT
BTTPDJBUFE
XJUI
DFSUBJO
NBOEBUPSZ
QSFQBZNFOUT
XJUIJO
UIF
EFCU
BHSFFNFOU
5IFTF
NBOEBUPSZ QSFQBZNFOUT
JODMVEF
CVU
BSF
OPU
MJNJUFE
UP
QSFQBZNFOUT
VQPO
DIBOHF
PG
DPOUSPM
FYDFTT
DBTI
GMPX
GSPN
TQFDUSVN
NPOFUJ[BUJPO BOE
FYDFTT
DBTI
GMPX
GSPN
UIF
$PNQBOZT
DPSF
TBUFMMJUF
CVTJOFTT

3PMMGPSXBSE
PG
3FDVSSJOH
-FWFM

-JBCJMJUJFT

5IF
GPMMPXJOH
UBCMF
QSFTFOUT
B
SPMMGPSXBSE
GPS
BMM
MJBCJMJUJFT
NFBTVSFE
BU
GBJS
WBMVF
PO
B
SFDVSSJOH
CBTJT
VTJOH
TJHOJGJDBOU VOPCTFSWBCMF
JOQVUT
-FWFM

JO
UIPVTBOET 

:FBS
&OEFE
%FDFNCFS
   #BMBODF
BU
CFHJOOJOH
PG
QFSJPE       *TTVBODF
PG
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
XJUI
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ   k 6OSFBMJ[FE
HBJO
JODMVEFE
JO
EFSJWBUJWF
HBJO     #BMBODF
BU
FOE
PG
QFSJPE      
'BJS
7BMVF
PG
%FCU
*OTUSVNFOUT

5IF
$PNQBOZ
CFMJFWFT
JU
JT
OPU
QSBDUJDBCMF
UP
EFUFSNJOF
UIF
GBJS
WBMVF
PG
UIF
'BDJMJUZ
"HSFFNFOU
BOE
UIF
4FDPOE
-JFO
5FSN -PBO
'BDJMJUZ
XJUIPVU
JODVSSJOH
TJHOJGJDBOU
BEEJUJPOBM
DPTUT
6OMJLF
UZQJDBM
MPOHUFSN
EFCU
JOUFSFTU
SBUFT
BOE
PUIFS
UFSNT
GPS
UIFTF JOTUSVNFOUT
BSF
OPU
SFBEJMZ
BWBJMBCMF
BOE
HFOFSBMMZ
JOWPMWF
B
WBSJFUZ
PG
GBDUPST
JODMVEJOH
EVF
EJMJHFODF
CZ
UIF
EFCU
IPMEFST
5IF GPMMPXJOH
UBCMF
TFUT
GPSUI
UIF
DBSSZJOH
WBMVFT
BOE
FTUJNBUFE
GBJS
WBMVFT
PG
UIF
$PNQBOZT
PUIFS
EFCU
JOTUSVNFOUT
XIJDI
BSF DMBTTJGJFE
BT
-FWFM

GJOBODJBM
JOTUSVNFOUT
JO
UIPVTBOET 

%FDFNCFS

 %FDFNCFS

 $BSSZJOH &TUJNBUFE $BSSZJOH &TUJNBUFE 7BMVF 'BJS
7BMVF 7BMVF 'BJS
7BMVF -PBO
"HSFFNFOU
XJUI
5IFSNP             

/PUFT      

 /POSFDVSSJOH
'BJS
7BMVF
.FBTVSFNFOUT

8BSSBOUT

5IF
$PNQBOZ
GPMMPXT
UIF
BVUIPSJUBUJWF
HVJEBODF
SFHBSEJOH
OPOGJOBODJBM
BTTFUT
BOE
OPOGJOBODJBM
MJBCJMJUJFT
UIBU
BSF
SFNFBTVSFE BU
GBJS
WBMVF
PO
B
OPOSFDVSSJOH
CBTJT
QVSTVBOU
UP
BQQMJDBCMF
BDDPVOUJOH
HVJEBODF
NFBTVSJOH
UIF
GBJS
WBMVF
PG
BO
JOTUSVNFOU DMBTTJGJFE
JO
TIBSFIPMEFSTg
FRVJUZ
JT
HFOFSBMMZ
DPOTJTUFOU
XJUI
UIF
SFRVJSFNFOU
GPS
NFBTVSJOH
MJBCJMJUJFT
0O
/PWFNCFS

 UIF
$PNQBOZ
FOUFSFE
JOUP
B
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
"HSFFNFOU
"T
BEEJUJPOBM
DPOTJEFSBUJPO
GPS
UIF
MPBO
UIF
$PNQBOZ JTTVFE
UIF
MFOEFST
XBSSBOUT
UP
QVSDIBTF

NJMMJPO
TIBSFT
PG
WPUJOH
DPNNPO
TUPDL
BU
B
TUSJLF
QSJDF
PG

5IF
$PNQBOZ EFUFSNJOFE
UIBU
UIF
XBSSBOUT
XFSF
FRVJUZ
JOTUSVNFOUT
BOE
SFDPSEFE
UIFN
BT
B
QBSU
PG
TUPDLIPMEFSTg
FRVJUZ
5IF
GBJS
WBMVF
PG
UIF XBSSBOUT
XBT
FTUJNBUFE
VTJOH
B
#MBDL4DIPMFT
PQUJPOQSJDJOH
NPEFM
0O
UIF
EBUF
PG
JTTVBODF
UIF
GBJS
WBMVF
PG
UIF
XBSSBOUT
XBT 
NJMMJPO
5IF
TJHOJGJDBOU
RVBOUJUBUJWF
-FWFM

JOQVUT
VUJMJ[FE
JO
UIF
WBMVBUJPO
NPEFM
BT
PG
UIF
JTTVBODF
EBUF
BSF
TIPXO
JO
UIF UBCMF
CFMPX /PWFNCFS

 .BSLFU
1SJDF 4UPDL
1SJDF 3JTL'SFF &YFSDJTF PG
$PNNPO
7PMBUJMJUZ *OUFSFTU
3BUF 1SJDF 4UPDL 8BSSBOUT
JTTVFE
JO
DPOOFDUJPO
XJUI
UIF
4FDPOE
-JFO
5FSN -PBO
'BDJMJUZ     

-POH-JWFE
"TTFUT

-POHMJWFE
BTTFUT
BOE
JOUBOHJCMF
BOE
PUIFS
BTTFUT
BSF
SFWJFXFE
GPS
JNQBJSNFOU
XIFOFWFS
FWFOUT
PS
DIBOHFT
JO
DJSDVNTUBODFT JOEJDBUF
UIBU
UIF
DBSSZJOH
BNPVOU
PG
TVDI
BTTFUT
NBZ
OPU
CF
SFDPWFSBCMF

%VSJOH

UIF
$PNQBOZ
SFDMBTTJGJFE
JUT
GPSNFS
HBUFXBZ
MPDBUJPO
JO
/JDBSBHVB
UP
IFME
GPS
TBMF
BT
BNPOH
PUIFS
GBDUPST
UIF $PNQBOZ
JOUFOET
PO
EJTQPTJOH
PG
UIJT
BTTFU
JO
UIF
OFYU
UXFMWF
NPOUIT
*O
JUT

DPOTPMJEBUFE
TUBUFNFOU
PG
PQFSBUJPOT
UIF $PNQBOZ
SFDPSEFE
B
SFEVDUJPO
JO
UIF
DBSSZJOH
WBMVF
PG
UIJT
BTTFU
PG

NJMMJPO
UP
FRVBM
GBJS
WBMVF
MFTT
FTUJNBUFE
DPTUT
UP
TFMM 5IJT
BTTFU
XBT
PSJHJOBMMZ
SFDPSEFE
BU
B
UPUBM
GBJS
WBMVF
PG

NJMMJPO
QSJPS
UP
UIF
SFEVDUJPO
JO
JUT
WBMVF
SFTVMUJOH
JO
B
UPUBM
MPTT PG

NJMMJPO
EVSJOH

%VSJOH

B
SFEVDUJPO
JO
UIF
WBMVF
PG
MPOHMJWFE
BTTFUT
BOEPS
JOUBOHJCMF
BOE
PUIFS
BTTFUT
XBT
OPU SFRVJSFE


$0..*5.&/54
$POUSBDUVBM
0CMJHBUJPOT

4FDPOE(FOFSBUJPO
/FUXPSL
"T
PG
%FDFNCFS


UIF
$PNQBOZ
IBE
QVSDIBTF
DPNNJUNFOUT
XJUI
DFSUBJO
WFOEPST
SFMBUFE
UP
UIF
QSPDVSFNFOU
EFQMPZNFOU BOE
NBJOUFOBODF
PG
UIF
TFDPOEHFOFSBUJPO
OFUXPSL
5IFTF
DPNNJUNFOUT
JODMVEF
QSJNBSJMZ
B
QVSDIBTF
DPNNJUNFOU
XJUI
.*- 4"5
--$
GPS
UIF
QSPDVSFNFOU
BOE
QSPEVDUJPO
PG
OFX
BOUFOOBT
GPS
TVCTUBOUJBMMZ
BMM
PG
UIF
$PNQBOZT
HBUFXBZT
"T
PG
%FDFNCFS
 
UIF
$PNQBOZT
SFNBJOJOH
QVSDIBTF
PCMJHBUJPOT
VOEFS
UIJT
DPNNJUNFOU
BSF
BQQSPYJNBUFMZ

NJMMJPO
UIF
UJNJOH
PG QBZNFOUT
JT
ESJWFO
CZ
XPSL
QFSGPSNFE
VOEFS
UIF
DPOUSBDU
PWFS
UIF
SFNBJOJOH
DPOUSBDU
QFSJPE
BQQSPYJNBUFMZ
UISFF
ZFBST

0UIFS
$PNNJUNFOUT

5IF
$PNQBOZ
IBT
JOWFOUPSZ
QVSDIBTF
DPNNJUNFOUT
XJUI
JUT
UIJSE
QBSUZ
QSPEVDU
NBOVGBDUVSFST
JO
UIF
OPSNBM
DPVSTF
PG
CVTJOFTT 5IFTF
DPNNJUNFOUT
BSF
HFOFSBMMZ
OPODBODFMBCMF
BOE
BSF
CBTFE
PO
TBMFT
GPSFDBTUT
5IF
$PNQBOZ
FTUJNBUFT
UIBU
JUT
PQFO
JOWFOUPSZ QVSDIBTF
DPNNJUNFOUT
BT
PG
%FDFNCFS


XFSF
BQQSPYJNBUFMZ

NJMMJPO
"T
PG
%FDFNCFS


BQQSPYJNBUFMZ
 NJMMJPO
SFMBUFE
UP
UIFTF
DPNNJUNFOUT
XBT
SFDPSEFE
JO
QSFQBJE
FYQFOTFT
BOE
PUIFS
DVSSFOU
BTTFUT
PO
UIF
$PNQBOZT
DPOTPMJEBUFE CBMBODF
TIFFU

 
$0/5*/(&/$*&4

4FDVSJUJFT
$MBJN

0O
4FQUFNCFS


B
TIBSFIPMEFS
BDUJPO
XBT
GJMFE
BHBJOTU
(MPCBMTUBS
*OD
UIF
a$PNQBOZb
PS
a(MPCBMTUBSb
NFNCFST
PG UIF
#PBSE
PG
%JSFDUPST
5IFSNP
$PNQBOJFT
*OD
BOE
DFSUBJO
NFNCFST
PG
(MPCBMTUBS
NBOBHFNFOU
JO
UIF
$PVSU
PG
$IBODFSZ
PG
UIF 4UBUF
PG
%FMBXBSF
UIF
a$PVSUb
DBQUJPOFE
.VESJDL
$BQJUBM
.BOBHFNFOU
-1
FU
BM
W
.POSPF
FU
BM
$"
/P
5.3 UIF
"DUJPO 
"T
QSFWJPVTMZ
EJTDMPTFE
PO
%FDFNCFS


BMM
QBSUJFT
UP
UIF
"DUJPO
JODMVEJOH
QMBJOUJGGT
.VESJDL
$BQJUBM .BOBHFNFOU
-1
a.VESJDL
$BQJUBMb
BOE
8BSMBOEFS
"TTFU
.BOBHFNFOU
a8BSMBOEFSb
BOE
UPHFUIFS
XJUI
.VESJDL
$BQJUBM
UIF a1MBJOUJGGTb
FOUFSFE
JOUP
B
TUJQVMBUJPO
BOE
BHSFFNFOU
PG
TFUUMFNFOU
DPNQSPNJTF
BOE
SFMFBTF
PG
TUPDLIPMEFS
EFSJWBUJWF
BDUJPO
UIF a4FUUMFNFOU
"HSFFNFOUb
UP
TFUUMF
BMM
DMBJNT
BTTFSUFE
BHBJOTU
BMM
EFGFOEBOUT
JO
UIF
"DUJPO

0O
4FQUFNCFS


UIF
$PVSU
BQQSPWFE
UIF
4FUUMFNFOU
"HSFFNFOU
BOE
BXBSEFE
UP
UIF
1MBJOUJGGT
BUUPSOFZT
B
GFF
PG
 NJMMJPO
JODMVTJWF
PG
FYQFOTFT
XIJDI
XBT
QBJE
JO
/PWFNCFS

5IF
1MBJOUJGGT
BXBSE
BT
XFMM
BT
PUIFS
DPTUT
JODVSSFE
CZ
UIF $PNQBOZ
EJSFDUMZ
BTTPDJBUFE
XJUI
UIF
"DUJPO
FYDFFEFE
UIF
$PNQBOZT
SFUFOUJPO
MJNJU
PG

NJMMJPO
GPS
B
TFDVSJUJFT
DMBJN
VOEFS JUT
EJSFDUPST
BOE
PGGJDFST
JOTVSBODF
QPMJDZ
5IF
$PNQBOZT
QSJNBSZ
JOTVSBODF
QSPWJEFS
QBJE
UIF

NJMMJPO
TFUUMFNFOU
BXBSE EJSFDUMZ
UP
UIF
1MBJOUJGGT
JO
/PWFNCFS

"EEJUJPOBMMZ
UIF
$PNQBOZ
SFDFJWFE
B
UPUBM
PG

NJMMJPO
EVSJOH

BT SFJNCVSTFNFOU
GPS
PUIFS
DPTUT
JODVSSFE
CZ
UIF
$PNQBOZ
EJSFDUMZ
BTTPDJBUFE
XJUI
UIF
"DUJPO
"DDPSEJOH
UP
"4$

B
SFDPWFSZ SFMBUFE
UP
B
DPOUJOHFOU
MPTT
FH
JOTVSBODF
SFDPWFSZ
JT
B
DPOUJOHFOU
HBJO
3FDPWFSZ
PG
B
SFDPSEFE
DPOUJOHFOU
MPTT
TIBMM
CF
SFDPHOJ[FE POMZ
XIFO
SFBMJ[BUJPO
PG
UIF
SFDPWFSZ
JT
EFFNFE
QSPCBCMF
BOE
SFBTPOBCMZ
FTUJNBCMF

"DDPSEJOHMZ
JO
%FDFNCFS

UIF
$PNQBOZ SFDPSEFE
B
HBJO
PG

NJMMJPO
XIJDI
SFQSFTFOUT
UIF
QPSUJPO
PG
UIF
UPUBM

NJMMJPO
JOTVSBODF
SFDPWFSZ
UIBU
XBT
QSFWJPVTMZ USFBUFE
BT
B
DPOUJOHFOU
HBJO
5IJT
HBJO
XBT
SFDPSEFE
JO
NBSLFUJOH
HFOFSBM
BOE
BENJOJTUSBUJWF
FYQFOTFT
EVSJOH
UIF
GPVSUI
RVBSUFS PG


5BSJGG
3VMJOH

*O
4FQUFNCFS

64
$VTUPNT
BOE
#PSEFS
1SPUFDUJPO
$#1
JTTVFE
B
SVMJOH
SFMBUFE
UP
UIF
DMBTTJGJDBUJPO
PG
DFSUBJO
PG
UIF $PNQBOZT
DPSF
QSPEVDUT
JNQPSUFE
GSPN
$IJOB
5IJT
DMBTTJGJDBUJPO
XIJDI
DBSSJFT

UBSJGGT
VQPO
JNQPSU
JT
JODPOTJTUFOU
XJUI UIF
DMBTTJGJDBUJPO
UIF
$PNQBOZ
QSFWJPVTMZ
VTFE
CBTFE
PO
FYUFSOBM
MFHBM
BEWJDF
"T
B
SFTVMU
PG
UIF
$#1
SVMJOH
UIF
$PNQBOZ
SFDPSEFE B
QBZBCMF
PG
BQQSPYJNBUFMZ

NJMMJPO
JO
BDDSVFE
FYQFOTFT
PO
UIF
$PNQBOZT
%FDFNCFS


DPOTPMJEBUFE
CBMBODF
TIFFU SFMBUFE
UP
HPPET
JNQPSUFE
GSPN
$IJOB
TJODF
+VMZ

5IF
$PNQBOZ
SFDPSEFE
BO
PGGTFUUJOH
SFDFJWBCMF
GPS
B
QPSUJPO
PG
UIF
QBZBCMF UIBU
JT
SFDPWFSBCMF
BT
B
EVUZ
ESBXCBDL
UIJT
SFDFJWBCMF
SFQSFTFOUT
UIF
QPSUJPO
PG
EVUJFT
PXFE
GPS
FRVJQNFOU
USBOTGFSSFE
UP
GPSFJHO TVCTJEJBSJFT
GPS
TBMF

5IF
$PNQBOZ
QMBOT
PO
GJMJOH
B
QSPUFTU
BHBJOTU
UIJT
SVMJOH
UP
DIBMMFOHF
UIF
DMBTTJGJDBUJPO
BOE
SFEVDF
UIF
BNPVOUT
PXFE
5IF $PNQBOZ
DBOOPU
QSPWJEF
BOZ
BTTVSBODF
UIBU
JU
NBZ
CF
TVDDFTTGVM
JO
BDIJFWJOH
B
GBWPSBCMF
PVUDPNF
BT
TVDI
UIF
$PNQBOZ
JT BDDPVOUJOH
GPS
UIJT
NBUUFS
BT
B
HBJO
DPOUJOHFODZ
BOE
NBZ
SFDPSE
BOZ
TVDI
HBJO
GSPN
B
SFJNCVSTFNFOU
PS
DIBOHF
JO
SVMJOH
JO
GVUVSF QFSJPET
JG
BOE
XIFO
UIF
DPOUJOHFODZ
JT
SFTPMWFE

#VTJOFTT
&DPOPNJD
-PTT
$MBJN

*O
.BZ

UIF
$PNQBOZ
DPODMVEFE
UIF
TFUUMFNFOU
PG
B
CVTJOFTT
FDPOPNJD
MPTT
DMBJN
JO
XIJDI
JU
XBT
BO
BCTFOU
NFNCFS
JO B
UPSU
DMBTT
BDUJPO
MBXTVJU
5IF
$PNQBOZ
SFDFJWFE
QSPDFFET
PG

NJMMJPO
OFU
PG
MFHBM
GFFT
SFMBUFE
UP
UIJT
TFUUMFNFOU
5IF
$PNQBOZ SFDFJWFE
UIF
UXP
JOTUBMMNFOUT
PG

NJMMJPO
FBDI
JO
+BOVBSZ

BOE
+BOVBSZ

"T
PG
%FDFNCFS


UIF

NJMMJPO SFDFJWFE
JO
+BOVBSZ

XBT
SFDPSEFE
JO
QSFQBJE
BOE
PUIFS
DVSSFOU
BTTFUT
PO
UIF
$PNQBOZT
DPOTPMJEBUFE
CBMBODF
TIFFU
5IF $PNQBOZ
FWBMVBUFE
UIF
GBDUT
BOE
DJSDVNTUBODFT
TVSSPVOEJOH
UIJT
TFUUMFNFOU
BOE
EFUFSNJOFE
UIBU
VOEFS
"4$

UIJT
DPOUJOHFOU HBJO
XBT
DPOTJEFSFE
SFBMJ[BCMF
BT
UIF
TJHOFE
TFUUMFNFOU
XBT
FOGPSDFBCMF
UIF
DPVOUFSQBSUZ
IBE
UIF
XIFSFXJUIBM
UP
QBZ
UIF
BNPVOU BOE
UIF
QSPDFFET
NFU
UIF
EFGJOJUJPO
PG
BO
BTTFU
"DDPSEJOHMZ
EVSJOH

UIF
$PNQBOZ
SFDPSEFE
UIF
QSFTFOU
WBMVF
PG
UIF
QSPDFFET PG

NJMMJPO
BOE
B
EJTDPVOU
PG

NJMMJPO
5IF
QSFTFOU
WBMVF
PG
UIF
OFU
QSPDFFET
PG

NJMMJPO
XBT
SFDPSEFE
JO
PUIFS
JODPNF PO
UIF
$PNQBOZT
DPOTPMJEBUFE
TUBUFNFOU
PG
PQFSBUJPOT
5IF
EJTDPVOU
PG

NJMMJPO
XBT
SFDPSEFE
PO
UIF
$PNQBOZT
DPOTPMJEBUFE CBMBODF
TIFFU
BOE
XBT
BDDSFUFE
UP
JOUFSFTU
JODPNF
PWFS
UIF
UFSN
PG
UIF
SFDFJWBCMF
VTJOH
UIF
FGGFDUJWF
JOUFSFTU
NFUIPE

0UIFS
-JUJHBUJPO

%VF
UP
UIF
OBUVSF
PG
UIF
$PNQBOZT
CVTJOFTT
UIF
$PNQBOZ
JT
JOWPMWFE
GSPN
UJNF
UP
UJNF
JO
WBSJPVT
MJUJHBUJPO
NBUUFST
PS TVCKFDU
UP
EJTQVUFT
PS
SPVUJOF
DMBJNT
SFHBSEJOH
JUT
CVTJOFTT
BDUJWJUJFT
-FHBM
DPTUT
SFMBUFE
UP
UIFTF
NBUUFST
BSF
FYQFOTFE
BT
JODVSSFE

*O
NBOBHFNFOUT
PQJOJPO
UIFSF
JT
OP
QFOEJOH
MJUJHBUJPO
EJTQVUF
PS
DMBJN
PUIFS
UIBO
UIPTF
EFTDSJCFE
JO
UIJT
SFQPSU
XIJDI
DPVME CF
FYQFDUFE
UP
IBWF
B
NBUFSJBM
BEWFSTF
FGGFDU
PO
UIF
$PNQBOZT
GJOBODJBM
DPOEJUJPO
SFTVMUT
PG
PQFSBUJPOT
PS
MJRVJEJUZ

 
"$$36&%
&91&/4&4
"/%
05)&3
/0/$633&/5
-*"#*-*5*&4

"DDSVFE
FYQFOTFT
DPOTJTU
PG
UIF
GPMMPXJOH
JO
UIPVTBOET  %FDFNCFS
   "DDSVFE
DPNQFOTBUJPO
BOE
CFOFGJUT       "DDSVFE
QSPQFSUZ
BOE
PUIFS
UBYFT     "DDSVFE
DVTUPNFS
MJBCJMJUJFT
BOE
EFQPTJUT     "DDSVFE
QSPGFTTJPOBM
BOE
PUIFS
TFSWJDF
QSPWJEFS
GFFT     "DDSVFE
DPNNJTTJPOT     "DDSVFE
UFMFDPNNVOJDBUJPOT
FYQFOTFT    "DDSVFE
JOWFOUPSZ   "DDSVFE
BTTFU
QVSDIBTF k   "DDSVFE
UBSJGGT   k 4IPSUUFSN
MFBTF
MJBCJMJUZ   k 0UIFS
BDDSVFE
FYQFOTFT     5PUBM
BDDSVFE
FYQFOTFT      
0UIFS
BDDSVFE
FYQFOTFT
JODMVEF
QSJNBSJMZ
BEWFSUJTJOH
DPTUT
WFOEPS
TFSWJDFT
XBSSBOUZ
SFTFSWF
PDDVQBODZ
DPTUT
BDDSVFE OFUXPSL
DPTUT
BOE
FTUJNBUFE
QBZSPMM
TIPSUGBMM
VOEFS
UIF
$PPQFSBUJWF
&OEFBWPS
"HSFFNFOU
XJUI
UIF
-PVJTJBOB
%FQBSUNFOU
PG &DPOPNJD
%FWFMPQNFOU
a-&%b 
5IF
GPMMPXJOH
JT
B
TVNNBSZ
PG
UIF
BDUJWJUZ
JO
UIF
XBSSBOUZ
SFTFSWF
BDDPVOU
XIJDI
JT
JODMVEFE
JO
PUIFS
BDDSVFE
FYQFOTFT BCPWF
JO
UIPVTBOET  :FBS
&OEFE
%FDFNCFS
    #BMBODF
BU
CFHJOOJOH
PG
QFSJPE       1SPWJTJPO    6UJMJ[BUJPO    #BMBODF
BU
FOE
PG
QFSJPE      
0UIFS
OPODVSSFOU
MJBCJMJUJFT
DPOTJTU
PG
UIF
GPMMPXJOH
JO
UIPVTBOET 

%FDFNCFS
   "TTFU
SFUJSFNFOU
PCMJHBUJPO       %FGFSSFE
UBY
MJBCJMJUZ  k %FGFSSFE
SFOU
BOE
PUIFS
EFGFSSFE
FYQFOTF   $BQJUBM
MFBTF
PCMJHBUJPOT   -JBCJMJUZ
SFMBUFE
UP
UIF
$PPQFSBUJWF
&OEFBWPS
"HSFFNFOU
XJUI
UIF
4UBUF
PG
-PVJTJBOB k  'PSFJHO
UBY
DPOUJOHFODJFT     5PUBM
PUIFS
OPODVSSFOU
MJBCJMJUJFT      
"TTFU
SFUJSFNFOU
PCMJHBUJPOT
SFGMFDU
UIF
FTUJNBUFE
MJBCJMJUZ
BSJTJOH
GSPN
MFHBM
PCMJHBUJPOT
BTTPDJBUFE
XJUI
UIF
SFUJSFNFOU
PG
DFSUBJO MPOHMJWFE
BTTFUT
GPS
GVSUIFS
EJTDVTTJPO
SFGFS
UP
/PUF

4VNNBSZ
PG
4JHOJGJDBOU
"DDPVOUJOH
1PMJDJFT

'PSFJHO
UBY
DPOUJOHFODJFT
SFGMFDU
QSJNBSJMZ
BNPVOUT
PXFE
CZ
UIF
$PNQBOZT
#SB[JMJBO
TVCTJEJBSZ
QVSTVBOU
UP
SFGJOBODJOH QSPHSBNT
JO
DPVOUSZ
BT
XFMM
BT
DFSUBJO
QSFBDRVJTJUJPO
UBY
MJBCJMJUJFT
BSJTJOH
GSPN
UIF
$PNQBOZT
BDRVJTJUJPO
PG
UIF
GPSNFS
*(0
JO #SB[JM
JO


 5IF
$PNQBOZ
SFMPDBUFE
JUT
IFBERVBSUFST
UP
-PVJTJBOB
JO

*O
DPOOFDUJPO
XJUI
JUT
SFMPDBUJPO
UIF
$PNQBOZ
FOUFSFE
JOUP
B $PPQFSBUJWF
&OEFBWPS
"HSFFNFOU
XJUI
UIF
-&%
XIJDI
FYQJSFE
PO
%FDFNCFS


XIFSFCZ
UIF
$PNQBOZ
XBT
SFJNCVSTFE GPS
DFSUBJO
RVBMJGJFE
SFMPDBUJPO
DPTUT
BOE
BOOVBM
MFBTF
FYQFOTFT
6OEFS
UIF
UFSNT
PG
UIF
BHSFFNFOU
TJODF
JUT
SFMPDBUJPO
JO
 UIF
$PNQBOZ
XBT
SFJNCVSTFE
B
UPUBM
PG

NJMMJPO
GPS
RVBMJGZJOH
SFMPDBUJPO
BOE
MFBTF
FYQFOTFT
BOE

NJMMJPO
GPS
GBDJMJUZ JNQSPWFNFOUT
BOE
SFQMBDFNFOU
FRVJQNFOU
JO
DPOOFDUJPO
XJUI
UIF
SFMPDBUJPO
UISPVHI
%FDFNCFS




3&-"5&%
1"35:
53"/4"$5*0/4
1BZBCMFT
UP
5IFSNP
BOE
PUIFS
BGGJMJBUFT
SFMBUFE
UP
OPSNBM
QVSDIBTF
USBOTBDUJPOT
XFSF

NJMMJPO
BOE

NJMMJPO
BT
PG %FDFNCFS


BOE

SFTQFDUJWFMZ
5IJT
EFDSFBTF
JT
SFMBUFE
UP
UIF
UJNJOH
PG
FYQFOTFT
JODVSSFE
CZ
5IFSNP
PO
CFIBMG
PG UIF
$PNQBOZ
SFMBUFE
UP
UIF
TIBSFIPMEFS
MJUJHBUJPO
EJTDVTTFE
JO
/PUF

$POUJOHFODJFT
5SBOTBDUJPOT
XJUI
5IFSNP
$FSUBJO
HFOFSBM
BOE
BENJOJTUSBUJWF
FYQFOTFT
BSF
JODVSSFE
CZ
5IFSNP
PO
CFIBMG
PG
UIF
$PNQBOZ
5IFTF
FYQFOTFT
XIJDI
JODMVEF OPODBTI
FYQFOTFT
UIBU
UIF
$PNQBOZ
BDDPVOUT
GPS
BT
B
DPOUSJCVUJPO
UP
DBQJUBM
SFMBUFE
UP
TFSWJDFT
QSPWJEFE
CZ
DFSUBJO
FYFDVUJWF PGGJDFST
PG
5IFSNP
BOE
FYQFOTFT
JODVSSFE
CZ
5IFSNP
PO
CFIBMG
PG
UIF
$PNQBOZ
XIJDI
BSF
DIBSHFE
UP
UIF
$PNQBOZ
5IF
FYQFOTFT DIBSHFE
BSF
CBTFE
PO
BDUVBM
BNPVOUT
XJUI
OP
NBSLVQ
JODVSSFE
CZ
5IFSNP
PS
VQPO
BMMPDBUFE
FNQMPZFF
UJNF
5IF
FYQFOTFT DIBSHFE
UP
UIF
$PNQBOZ
XFSF

NJMMJPO

NJMMJPO
BOE

NJMMJPO
GPS
UIF
QFSJPET
FOEFE
%FDFNCFS



BOE 
SFTQFDUJWFMZ

JODMVEFE
BQQSPYJNBUFMZ

NJMMJPO
PG
FYQFOTFT
JODVSSFE
CZ
5IFSNP
PO
CFIBMG
PG
UIF
$PNQBOZ
SFMBUFE UP
UIF
TIBSFIPMEFS
MJUJHBUJPO
UIBU
EJE
OPU
SFDVS
JO


*O
'FCSVBSZ

UIF
$PNQBOZ
FOUFSFE
JOUP
B
MFBTF
BHSFFNFOU
XJUI
5IFSNP
$PWJOHUPO
--$
GPS
UIF
$PNQBOZT
OFX IFBERVBSUFST
PGGJDF
"OOVBM
MFBTF
QBZNFOUT
GPS
UIF
OFX
MPDBUJPO
BSF

NJMMJPO
QFS
ZFBS
JODSFBTJOH
BU
B
SBUF
PG

QFS
ZFBS GPS
B
MFBTF
UFSN
PG
UFO
ZFBST
%VSJOH
UIF
UXFMWF
NPOUIT
FOEFE
%FDFNCFS


UIF
$PNQBOZ
JODVSSFE
MFBTF
FYQFOTF
PG
 NJMMJPO
EVF
UP
5IFSNP
VOEFS
UIJT
MFBTF
BHSFFNFOU
"T
PG
%FDFNCFS


UIF
QSJODJQBM
BNPVOU
PVUTUBOEJOH
VOEFS
UIF
-PBO
"HSFFNFOU
XJUI
5IFSNP
XBT

NJMMJPO
BOE UIF
GBJS
WBMVF
PG
UIF
DPNQPVOE
FNCFEEFE
EFSJWBUJWF
MJBCJMJUZ
BTTPDJBUFE
XJUI
UIF
-PBO
"HSFFNFOU
XBT

NJMMJPO
%VSJOH
 BOE

JOUFSFTU
BDDSVFE
PO
UIF
-PBO
"HSFFNFOU
XBT
BQQSPYJNBUFMZ

NJMMJPO
BOE

NJMMJPO
SFTQFDUJWFMZ
"T
QSFWJPVTMZ EJTDMPTFE
5IFSNP
DPNNJUUFE
UP
DPOWFSU
UIF
UPUBM
QSJODJQBM
CBMBODF
PVUTUBOEJOH
VOEFS
UIF
-PBO
"HSFFNFOU
CZ
.BSDI

 PO
'FCSVBSZ


5IFSNP
DPOWFSUFE
UIF
FOUJSF
QSJODJQBM
CBMBODF
PVUTUBOEJOH
SFTVMUJOH
JO
UIF
JTTVBODF
PG

NJMMJPO
TIBSFT PG
DPNNPO
TUPDL

*O
+VMZ

UIF
$PNQBOZ
FOUFSFE
JOUP
B
4VCPSEJOBUFE
-PBO
"HSFFNFOU
FGGFDUJWF
+VOF


XJUI
5IFSNP
BOE
DFSUBJO VOBGGJMJBUFE
QBSUJFT
5IFSNPT
QBSUJDJQBUJPO
JO
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
XBT

NJMMJPO
BOE

NJMMJPO
PG
JOUFSFTU IBE
BDDSVFE
QSJPS
UP
JUT
QBZ
EPXO
*O
/PWFNCFS

UIF
$PNQBOZ
FOUFSFE
JOUP
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XIJDI
XBT VTFE
JO
QBSU
UP
SFQBZ
UIF
FOUJSF
CBMBODF
PG
UIF
4VCPSEJOBUFE
-PBO
"HSFFNFOU
5IFSNPT
QBSUJDJQBUJPO
JO
UIF
4FDPOE
-JFO
5FSN -PBO
'BDJMJUZ
XBT

NJMMJPO
5IJT
QSJODJQBM
CBMBODF
FBSOT
QBJEJOLJOE
JOUFSFTU
BU
B
SBUF
PG

QFS
BOOVN
%VSJOH
 JOUFSFTU
BDDSVFE
XJUI
SFTQFDU
UP
5IFSNPT
QPSUJPO
PG
UIF
EFCU
PVUTUBOEJOH
PO
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
XBT
BQQSPYJNBUFMZ 
NJMMJPO
*O
DPOOFDUJPO
XJUI
UIF
JTTVBODF
PG
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
UIF
IPMEFST
SFDFJWFE
XBSSBOUT
UP
QVSDIBTF TIBSFT
PG
WPUJOH
DPNNPO
TUPDL
PG
XIJDI
5IFSNP
SFDFJWFE

NJMMJPO
XBSSBOUT
XJUI
BO
FYFSDJTF
QSJDF
PG

QFS
TIBSF
*O %FDFNCFS

5IFSNP
FYFSDJTFE

NJMMJPO
XBSSBOUT
SFTVMUJOH
JO
DBTI
QSPDFFET
UP
UIF
$PNQBOZ
PG

NJMMJPO
4FF
/PUF
 -POH5FSN
%FCU
BOE
0UIFS
'JOBODJOH
"SSBOHFNFOUT
GPS
GVSUIFS
EJTDVTTJPO
PG
UIF
$PNQBOZT
EFCU
BOE
GJOBODJOH
USBOTBDUJPOT
XJUI 5IFSNP

*O
"QSJM

(MPCBMTUBS
FOUFSFE
JOUP
B
NFSHFS
BHSFFNFOU
XJUI
DFSUBJO
5IFSNP
FOUJUJFT
XIJDI
BSF
DPOUSPMMFE
CZ
+BNFT
.POSPF ***
&YFDVUJWF
$IBJSNBO
PG
UIF
#PBSE
PG
%JSFDUPST
PG
(MPCBMTUBS
BOE
GPSNFS
$IJFG
&YFDVUJWF
0GGJDFS
PG
(MPCBMTUBS
5IF
USBOTBDUJPO XBT
VOBOJNPVTMZ
SFDPNNFOEFE
CZ
UIF
4QFDJBM
$PNNJUUFF
PG
UIF
#PBSE
PG
%JSFDUPST
PG
(MPCBMTUBS
DPOTJTUJOH
FOUJSFMZ
PG EJTJOUFSFTUFE
JOEFQFOEFOU
EJSFDUPST
BOE
VOBOJNPVTMZ
BQQSPWFE
CZ
UIF
GVMM
#PBSE
PG
%JSFDUPST
0O
+VMZ


(MPCBMTUBS GPMMPXJOH
UIF
VOBOJNPVT
SFDPNNFOEBUJPO
PG
JUT
4QFDJBM
$PNNJUUFF
PG
JOEFQFOEFOU
EJSFDUPST
BOE
5IFSNP
UFSNJOBUFE
UIF
NFSHFS BHSFFNFOU
CZ
NVUVBM
XSJUUFO
BHSFFNFOU

5IF
'BDJMJUZ
"HSFFNFOU
SFRVJSFT
5IFSNP
UP
NBJOUBJO
NJOJNVN
BOE
NBYJNVN
PXOFSTIJQ
MFWFMT
JO
UIF
$PNQBOZT
DPNNPO TUPDL

 "T
QSFWJPVTMZ
EJTDMPTFE
JO
DPOOFDUJPO
XJUI
UIF
4FUUMFNFOU
"HSFFNFOU
EJTDVTTFE
JO
/PUF

$POUJOHFODJFT
UIF
$PNQBOZ GPSNFE
B
4USBUFHJD
3FWJFX
$PNNJUUFF
UIBU
JT
SFRVJSFE
UP
SFNBJO
JO
FYJTUFODF
GPS
BT
MPOH
BT
5IFSNP
BOE
JUT
BGGJMJBUFT
CFOFGJDJBMMZ PXO
GPSUZGJWF
QFSDFOU

PS
NPSF
PG
(MPCBMTUBSgT
PVUTUBOEJOH
DPNNPO
TUPDL
5P
UIF
FYUFOU
QFSNJUUFE
CZ
BQQMJDBCMF
MBX
UIF 4USBUFHJD
3FWJFX
$PNNJUUFF
XJMM
IBWF
FYDMVTJWF
SFTQPOTJCJMJUZ
GPS
UIF
PWFSTJHIU
SFWJFX
BOE
BQQSPWBM
PG
BNPOH
PUIFS
UIJOHT
BOE TVCKFDU
UP
DFSUBJO
FYDFQUJPOT
BOZ
BDRVJTJUJPO
CZ
5IFSNP
BOE
JUT
BGGJMJBUFT
PG
BEEJUJPOBM
OFXMZJTTVFE
TFDVSJUJFT
PG
UIF
$PNQBOZ BOE
BOZ
USBOTBDUJPO
CFUXFFO
UIF
$PNQBOZ
BOE
5IFSNP
BOE
JUT
BGGJMJBUFT
XJUI
B
WBMVF
JO
FYDFTT
PG
 
5IF
BQQSPWBM
PG
BOZ PG
UIF
GPSFHPJOH
USBOTBDUJPOT
XJMM
SFRVJSF
UIF
WPUF
PG
BU
MFBTU
B
NBKPSJUZ
PG
UIF
4USBUFHJD
3FWJFX
$PNNJUUFF

 1&/4*0/4
"/%
05)&3
&.1-0:&&
#&/&'*54

%FGJOFE
#FOFGJU
1MBO

6OUJM
+VOF


TVCTUBOUJBMMZ
BMM
0ME
BOE
/FX
(MPCBMTUBS
FNQMPZFFT
BOE
SFUJSFFT
XIP
QBSUJDJQBUFE
BOEPS
NFU
UIF
WFTUJOH DSJUFSJB
GPS
UIF
QMBO
XFSF
QBSUJDJQBOUT
JO
UIF
3FUJSFNFOU
1MBO
PG
4QBDF
4ZTUFNT-PSBM
UIF
-PSBM
1MBO
B
EFGJOFE
CFOFGJU
QFOTJPO QMBO
5IF
BDDSVBM
PG
CFOFGJUT
JO
UIF
0ME
(MPCBMTUBS
TFHNFOU
PG
UIF
-PSBM
1MBO
XBT
DVSUBJMFE
PS
GSP[FO
CZ
UIF
BENJOJTUSBUPS
PG
UIF -PSBM
1MBO
JO

1SJPS
UP

CFOFGJUT
GPS
UIF
-PSBM
1MBO
XFSF
HFOFSBMMZ
CBTFE
VQPO
DPOUSJCVUJPOT
MFOHUI
PG
TFSWJDF
XJUI
UIF $PNQBOZ
BOE
BHF
PG
UIF
QBSUJDJQBOU
0O
+VOF


UIF
BTTFUT
BOE
GSP[FO
QFOTJPO
PCMJHBUJPOT
PG
UIF
(MPCBMTUBS
4FHNFOU
PG
UIF -PSBM
1MBO
XFSF
USBOTGFSSFE
JOUP
B
OFX
(MPCBMTUBS
3FUJSFNFOU
1MBO
UIF
(MPCBMTUBS
1MBO 
5IF
(MPCBMTUBS
1MBO
SFNBJOT
GSP[FO BOE
QBSUJDJQBOUT
BSF
OPU
DVSSFOUMZ
BDDSVJOH
CFOFGJUT
CFZPOE
UIPTF
BDDSVFE
BT
PG
0DUPCFS


5IF
$PNQBOZT
GVOEJOH
QPMJDZ JT
UP
GVOE
UIF
(MPCBMTUBS
1MBO
JO
BDDPSEBODF
XJUI
UIF
*OUFSOBM
3FWFOVF
$PEF
BOE
SFHVMBUJPOT

*O
%FDFNCFS

UIF
$PNQBOZ
TFUUMFE
B
QPSUJPO
PG
UIF
QFOTJPO
MJBCJMJUZ
SFMBUFE
UP
UFSNJOBUFE
WFTUFE
FNQMPZFFT
JO
UIF
(MPCBMTUBS 1MBO
BT
B
EFSJTLJOH
TUSBUFHZ
5IF
UPUBM
TFUUMFNFOU
PG

NJMMJPO
XBT
QBJE
PVU
UISPVHI
UIF
BTTFUT
IFME
JO
UIF
(MPCBMTUBS
1MBO
5IF TFUUMFNFOU
SFTVMUFE
JO
B
SFEVDUJPO
UP
UIF
QSPKFDUFE
CFOFGJU
PCMJHBUJPO
BOE
B
DPSSFTQPOEJOH
EFDSFBTF
UP
QMBO
BTTFUT
BT
PG
%FDFNCFS 

"EEJUJPOBMMZ
JO
BDDPSEBODF
XJUI
"4$

$PNQFOTBUJPO
b
3FUJSFNFOU
#FOFGJUT
UIF
$PNQBOZ
SFDPHOJ[FE
B
MPTT
PG
 NJMMJPO
JO
JUT
DPOTPMJEBUFE
TUBUFNFOU
PG
PQFSBUJPOT
EVSJOH
UIF
UXFMWFNPOUI
QFSJPE
FOEFE
%FDFNCFS


BTTPDJBUFE
XJUI
UIJT TFUUMFNFOU
5IJT
MPTT
SFQSFTFOUT
UIF
QSP
SBUB
QPSUJPO
PG
BDUVBSJBM
MPTTFT
UIBU
XFSF
QSFWJPVTMZ
EFGFSSFE
JO
PUIFS
DPNQSFIFOTJWF
JODPNF

%FGJOFE
#FOFGJU
1FOTJPO
0CMJHBUJPO
BOE
'VOEFE
4UBUVT

#FMPX
JT
B
SFDPODJMJBUJPO
PG
QSPKFDUFE
CFOFGJU
PCMJHBUJPO
QMBO
BTTFUT
BOE
UIF
GVOEFE
TUBUVT
PG
UIF
$PNQBOZgT
EFGJOFE
CFOFGJU QMBO
JO
UIPVTBOET 

:FBS
&OEFE
%FDFNCFS
   $IBOHF
JO
QSPKFDUFE
CFOFGJU
PCMJHBUJPO 1SPKFDUFE
CFOFGJU
PCMJHBUJPO
CFHJOOJOH
PG
ZFBS       4FSWJDF
DPTU   *OUFSFTU
DPTU   "DUVBSJBM
HBJO
MPTT     4FUUMFNFOU   k #FOFGJUT
QBJE     1SPKFDUFE
CFOFGJU
PCMJHBUJPO
FOE
PG
ZFBS       $IBOHF
JO
GBJS
WBMVF
PG
QMBO
BTTFUT 'BJS
WBMVF
PG
QMBO
BTTFUT
CFHJOOJOH
PG
ZFBS       3FUVSO
PO
QMBO
BTTFUT    &NQMPZFS
DPOUSJCVUJPOT   4FUUMFNFOU   k #FOFGJUT
QBJE     'BJS
WBMVF
PG
QMBO
BTTFUT
FOE
PG
ZFBS       'VOEFE
TUBUVT
FOE
PG
ZFBSOFU
MJBCJMJUZ      

 /FU
#FOFGJU
$PTU
BOE
"NPVOUT
3FDPHOJ[FE
$PNQPOFOUT
PG
UIF
OFU
QFSJPEJD
CFOFGJU
DPTU
PG
UIF
$PNQBOZgT
EFGJOFE
CFOFGJU
QFOTJPO
QMBO
XFSF
BT
GPMMPXT
JO
UIPVTBOET 

:FBS
&OEFE
%FDFNCFS
    /FU
QFSJPEJD
CFOFGJU
DPTU 4FSWJDF
DPTU       *OUFSFTU
DPTU    &YQFDUFE
SFUVSO
PO
QMBO
BTTFUT    "NPSUJ[BUJPO
PG
VOSFDPHOJ[FE
OFU
BDUVBSJBM
MPTT    4FUUMFNFOU  k k 5PUBM
OFU
QFSJPEJD
CFOFGJU
DPTU      
"NPVOUT
SFDPHOJ[FE
JO
UIF
DPOTPMJEBUFE
CBMBODF
TIFFU
XFSF
BT
GPMMPXT
JO
UIPVTBOET  %FDFNCFS
   "NPVOUT
SFDPHOJ[FE 'VOEFE
TUBUVT
SFDPHOJ[FE
JO
PUIFS
OPODVSSFOU
MJBCJMJUJFT       /FU
BDUVBSJBM
MPTT
SFDPHOJ[FE
JO
BDDVNVMBUFE
PUIFS
DPNQSFIFOTJWF
MPTT     /FU
BNPVOU
SFDPHOJ[FE
JO
SFUBJOFE
EFGJDJU     
5IF
FTUJNBUFE
OFU
BDUVBSJBM
MPTT
UIBU
XJMM
CF
BNPSUJ[FE
GSPN
BDDVNVMBUFE
PUIFS
DPNQSFIFOTJWF
MPTT
JOUP
OFU
QFSJPEJD
CFOFGJU DPTU
JO

JT

NJMMJPO
/P
BNPVOUT
BSF
FYQFDUFE
UP
CF
BNPSUJ[FE
GSPN
BDDVNVMBUFE
PUIFS
DPNQSFIFOTJWF
MPTT
JOUP
OFU
QFSJPEJD CFOFGJU
DPTU
JO

SFMBUFE
UP
QSJPS
TFSWJDF
DPTUT
PS
OFU
USBOTJUJPO
PCMJHBUJPOT

"TTVNQUJPOT
5IF
XFJHIUFEBWFSBHF
BTTVNQUJPOT
VTFE
UP
EFUFSNJOF
UIF
CFOFGJU
PCMJHBUJPO
BOE
OFU
QFSJPEJD
CFOFGJU
DPTU
XFSF
BT
GPMMPXT
'PS
UIF
:FBS
&OEFE
%FDFNCFS
    #FOFGJU
PCMJHBUJPO
BTTVNQUJPOT %JTDPVOU
SBUF    3BUF
PG
DPNQFOTBUJPO
JODSFBTF /" /" /" /FU
QFSJPEJD
CFOFGJU
DPTU
BTTVNQUJPOT %JTDPVOU
SBUF    &YQFDUFE
SBUF
PG
SFUVSO
PO
QMBO
BTTFUT    3BUF
PG
DPNQFOTBUJPO
JODSFBTF /" /" /"

5IF
BTTVNQUJPOT
JOWFTUNFOU
QPMJDJFT
BOE
TUSBUFHJFT
GPS
UIF
(MPCBMTUBS
1MBO
BSF
EFUFSNJOFE
CZ
UIF
(MPCBMTUBS
1MBO
$PNNJUUFF 5IF
(MPCBMTUBS
1MBO
$PNNJUUFF
JT
SFTQPOTJCMF
GPS
FOTVSJOH
UIF
JOWFTUNFOUT
PG
UIF
QMBOT
BSF
NBOBHFE
JO
B
QSVEFOU
BOE
FGGFDUJWF NBOOFS
"NPVOUT
SFMBUFE
UP
UIF
QFOTJPO
QMBO
BSF
EFSJWFE
GSPN
BDUVBSJBM
BOE
PUIFS
BTTVNQUJPOT
JODMVEJOH
EJTDPVOU
SBUFT
NPSUBMJUZ FYQFDUFE
SBUF
PG
SFUVSO
QBSUJDJQBOU
EBUB
BOE
UFSNJOBUJPO
5IF
$PNQBOZ
SFWJFXT
BTTVNQUJPOT
PO
BO
BOOVBM
CBTJT
BOE
NBLFT BEKVTUNFOUT
BT
DPOTJEFSFE
OFDFTTBSZ
5IF
FYQFDUFE
MPOHUFSN
SBUF
PG
SFUVSO
PO
QFOTJPO
QMBO
BTTFUT
JT
TFMFDUFE
CZ
UBLJOH
JOUP
BDDPVOU
UIF
FYQFDUFE
EVSBUJPO
PG
UIF QSPKFDUFE
CFOFGJU
PCMJHBUJPO
GPS
UIF
QMBO
UIF
BTTFU
NJY
PG
UIF
QMBO
BOE
UIF
GBDU
UIBU
UIF
QMBO
BTTFUT
BSF
BDUJWFMZ
NBOBHFE
UP
NJUJHBUF SJTL
%JTDPVOU
SBUFT
BSF
EFUFSNJOFE
BOOVBMMZ
CBTFE
PO
UIF
1MBO
BENJOJTUSBUPSgT
ZJFME
DVSWF
JOEFY
XIJDI
DPOTJEFST
FYQFDUFE
CFOFGJU QBZNFOUT
BOE
JT
EJTDPVOUFE
XJUI
SBUFT
GSPN
UIF
ZJFME
DVSWF
UP
EFUFSNJOF
B
TJOHMF
FRVJWBMFOU
EJTDPVOU
SBUF

 1MBO
"TTFUT
BOE
*OWFTUNFOU
1PMJDJFT
BOE
4USBUFHJFT
5IF
QMBO
BTTFUT
BSF
JOWFTUFE
JO
WBSJPVT
NVUVBM
GVOET
XIJDI
IBWF
RVPUFE
QSJDFT
5IF
QMBO
IBT
B
UBSHFU
BMMPDBUJPO
0O
B
XFJHIUFE BWFSBHF
CBTJT
UBSHFU
BMMPDBUJPOT
GPS
FRVJUZ
TFDVSJUJFT
SBOHF
GSPN

UP

GPS
EFCU
TFDVSJUJFT

UP

BOE
GPS
PUIFS JOWFTUNFOUT

UP

5IF
EFGJOFE
CFOFGJU
QFOTJPO
QMBO
BTTFU
BMMPDBUJPOT
BT
PG
UIF
NFBTVSFNFOU
EBUF
QSFTFOUFE
BT
B
QFSDFOUBHF PG
UPUBM
QMBO
BTTFUT
XFSF
BT
GPMMPXT

%FDFNCFS
   &RVJUZ
TFDVSJUJFT   %FCU
TFDVSJUJFT   5PUBM  
5IF
GBJS
WBMVFT
PG
UIF
$PNQBOZgT
QFOTJPO
QMBO
BTTFUT
CZ
BTTFU
DBUFHPSZ
XFSF
BT
GPMMPXT
JO
UIPVTBOET 

%FDFNCFS

 2VPUFE
1SJDFT JO
"DUJWF 4JHOJGJDBOU .BSLFUT
GPS 0UIFS 4JHOJGJDBOU *EFOUJDBM
"TTFUT 0CTFSWBCMF 6OPCTFSWBCMF 5PUBM -FWFM
 *OQVUT
-FWFM
 *OQVUT
-FWFM
 6OJUFE
4UBUFT
FRVJUZ
TFDVSJUJFT     k     k *OUFSOBUJPOBM
FRVJUZ
TFDVSJUJFT   k   k 'JYFE
JODPNF
TFDVSJUJFT   k   k 0UIFS   k   k 5PUBM     k     k

%FDFNCFS

 2VPUFE
1SJDFT JO
"DUJWF 4JHOJGJDBOU .BSLFUT
GPS 0UIFS 4JHOJGJDBOU *EFOUJDBM
"TTFUT 0CTFSWBCMF 6OPCTFSWBCMF 5PUBM -FWFM
 *OQVUT
-FWFM
 *OQVUT
-FWFM
 6OJUFE
4UBUFT
FRVJUZ
TFDVSJUJFT     k     k *OUFSOBUJPOBM
FRVJUZ
TFDVSJUJFT   k   k 'JYFE
JODPNF
TFDVSJUJFT   k   k 0UIFS   k   k 5PUBM     k     k
"DDVNVMBUFE
#FOFGJU
0CMJHBUJPO
5IF
BDDVNVMBUFE
CFOFGJU
PCMJHBUJPO
PG
UIF
EFGJOFE
CFOFGJU
QFOTJPO
QMBO
XBT

NJMMJPO
BOE

NJMMJPO
BU
%FDFNCFS
 
BOE

SFTQFDUJWFMZ

 #FOFGJUT
1BZNFOUT
BOE
$POUSJCVUJPOT
5IF
CFOFGJU
QBZNFOUT
UP
SFUJSFFT
PWFS
UIF
OFYU
UFO
ZFBST
BSF
FYQFDUFE
UP
CF
QBJE
BT
GPMMPXT
JO
UIPVTBOET 
                

  
'PS

BOE

UIF
$PNQBOZ
DPOUSJCVUFE

NJMMJPO
BOE

NJMMJPO
SFTQFDUJWFMZ
UP
UIF
(MPCBMTUBS
1MBO
'PS

UIF $PNQBOZT
FYQFDUFE
DPOUSJCVUJPOT
UP
UIF
(MPCBMTUBS
1MBO
XJMM
CF

NJMMJPO
 L
1MBO

5IF
$PNQBOZ
IBT
B
EFGJOFE
DPOUSJCVUJPO
FNQMPZFF
TBWJOHT
QMBO
PS
a L b
XIJDI
QSPWJEFT
UIBU
UIF
$PNQBOZ
NBZ
NBUDI UIF
DPOUSJCVUJPOT
PG
QBSUJDJQBUJOH
FNQMPZFFT
VQ
UP
B
EFTJHOBUFE
MFWFM
6OEFS
UIJT
QMBO
UIF
NBUDIJOH
DPOUSJCVUJPOT
XFSF BQQSPYJNBUFMZ

NJMMJPO

NJMMJPO
BOE

NJMMJPO
GPS


BOE

SFTQFDUJWFMZ
5IF
JODSFBTF
JO
NBUDIJOH DPOUSJCVUJPOT
EVSJOH

XBT
EVF
UP
JODSFBTFE
IFBEDPVOU
BT
XFMM
BT
BO
JODSFBTF
UP
UIF
NBUDIJOH
DPOUSJCVUJPO
QFSDFOUBHF
CZ
UIF $PNQBOZ
EVSJOH


5"9&4
5IF
DPNQPOFOUT
PG
JODPNF
UBY
FYQFOTF
CFOFGJU
XFSF
BT
GPMMPXT
JO
UIPVTBOET 

:FBS
&OEFE
%FDFNCFS
    $VSSFOU 'FEFSBM
UBY  k  k  k 4UBUF
UBY    'PSFJHO
UBY    5PUBM    %FGFSSFE 'FEFSBM
BOE
TUBUF
UBY  k k 'PSFJHO
UBY k k k 5PUBM  k k *ODPNF
UBY
FYQFOTF      

64
BOE
GPSFJHO
DPNQPOFOUT
PG
JODPNF
MPTT
CFGPSF
JODPNF
UBYFT
BSF
QSFTFOUFE
CFMPX
JO
UIPVTBOET 

:FBS
&OEFE
%FDFNCFS
    64
JODPNF
MPTT          'PSFJHO
JODPNF
MPTT
OFU       5PUBM
JODPNF
MPTT
CFGPSF
JODPNF
UBYFT         
"T
PG
%FDFNCFS


UIF
$PNQBOZ
IBE
DVNVMBUJWF
64
BOE
GPSFJHO
OFU
PQFSBUJOH
MPTT
DBSSZGPSXBSET
GPS
JODPNF
UBY SFQPSUJOH
QVSQPTFT
PG
BQQSPYJNBUFMZ

CJMMJPO
BOE

NJMMJPO
SFTQFDUJWFMZ
"T
PG
%FDFNCFS


UIF
$PNQBOZ
IBE DVNVMBUJWF
64
BOE
GPSFJHO
OFU
PQFSBUJOH
MPTT
DBSSZGPSXBSET
GPS
JODPNF
UBY
SFQPSUJOH
QVSQPTFT
PG
BQQSPYJNBUFMZ

CJMMJPO
BOE 
NJMMJPO
SFTQFDUJWFMZ
5IF
DVSSFOU
OFU
PQFSBUJOH
MPTT
DBSSZGPSXBSET
FYQJSF
GSPN

UISPVHI

XJUI
MFTT
UIBO
 FYQJSJOH
QSJPS
UP


 5IF
DPNQPOFOUT
PG
OFU
EFGFSSFE
JODPNF
UBY
BTTFUT
XFSF
BT
GPMMPXT
JO
UIPVTBOET 

%FDFNCFS
   'FEFSBM
BOE
GPSFJHO
OFU
PQFSBUJOH
MPTT
JOUFSFTU
MJNJUBUJPO
BOE
DSFEJU
DBSSZGPSXBSET       1SPQFSUZ
BOE
FRVJQNFOU
BOE
PUIFS
MPOHUFSN
BTTFUT     "DDSVBMT
BOE
SFTFSWFT     %FGFSSFE
UBY
BTTFUT
CFGPSF
WBMVBUJPO
BMMPXBODF     7BMVBUJPO
BMMPXBODF     /FU
EFGFSSFE
JODPNF
UBY
BTTFU
MJBCJMJUZ    k
5IF
DIBOHF
JO
UIF
WBMVBUJPO
BMMPXBODF
EVSJOH

PG

NJMMJPO
XBT
EVF
UP
UIF
$PNQBOZ
QSPWJEJOH
WBMVBUJPO
BMMPXBODFT BHBJOTU
BMM
PG
UIF
UBY
CFOFGJU
HFOFSBUFE
GSPN
JUT
DPOTPMJEBUFE
OFU
MPTTFT
%VF
UP
UIF
SFNFBTVSFNFOU
PG
UIF
TUBUF
JNQBDU
PO
64 EFGFSSFE
UBY
BTTFUT
BOE
UIF
$PNQBOZgT
SFDPODJMJBUJPO
PG
WBSJPVT
EFGFSSFE
UBY
BTTFUT
UP
SFGMFDU
UIF
SFNBJOJOH
DVNVMBUJWF
EJGGFSFODFT UIF
$PNQBOZ
IBT
SFNFBTVSFE
BMM
64
EFGFSSFE
UBY
BTTFUT
SFTVMUJOH
JO
B
EFDSFBTF
JO
CPUI
UIF
EFGFSSFE
UBY
BTTFU
BOE
UIF
BTTPDJBUFE WBMVBUJPO
BMMPXBODF
%VF
UP
UIF
MJNJUBUJPO
PO
VUJMJ[BUJPO
PG
TUBUF
OFU
PQFSBUJOH
MPTTFT
UIF
$PNQBOZ
SFDPSEFE
B
EFGFSSFE
UBY
MJBCJMJUZ BOE
JODPNF
UBY
FYQFOTF
EVSJOH

5IF
DIBOHF
JO
QSPQFSUZ
BOE
FRVJQNFOU
BOE
PUIFS
MPOHUFSN
BTTFUT
XBT
ESJWFO
QSJNBSJMZ
CZ EFQSFDJBUJPO
EVF
UP
UIF
EJGGFSFODF
CFUXFFO
UBY
BOE
CPPL
EFQSFDJBCMF
MJWFT

5IF
BDUVBM
QSPWJTJPO
GPS
JODPNF
UBYFT
EJGGFST
GSPN
UIF
TUBUVUPSZ
64
GFEFSBM
JODPNF
UBY
SBUF
BT
GPMMPXT
JO
UIPVTBOET 


:FBS
&OEFE
%FDFNCFS
    1SPWJTJPO
BU
64
TUBUVUPSZ
SBUF
PG

GPS
FBDI
PG

BOE

BOE
 GPS
          4UBUF
JODPNF
UBYFT
OFU
PG
GFEFSBM
CFOFGJU      $IBOHF
JO
WBMVBUJPO
BMMPXBODF
FYDMVEJOH
JNQBDU
PG
GPSFJHO
FYDIBOHF
SBUFT       &GGFDU
PG
GPSFJHO
JODPNF
UBY
BU
WBSJPVT
SBUFT     1FSNBOFOU
EJGGFSFODFT       /FU
DIBOHF
JO
QFSNBOFOU
JUFNT
EVF
UP
QSPWJTJPO
UP
UBY
SFUVSO       "EKVTUNFOU
UP
SFTFSWFE
EFGFSSFE
BTTFUT   k k 3FNFBTVSFNFOU
PG
64
EFGFSSFE
UBY
BTTFUT
'FEFSBM
BOE
4UBUF k k   "EKVTUNFOU
UP
TUBUF
EFGFSSFE
SBUF   k k 0UIFS
JODMVEJOH
BNPVOUT
SFMBUFE
UP
QSJPS
ZFBS
UBY
NBUUFST    5PUBM      
5BY
"VEJUT

5IF
$PNQBOZ
PQFSBUFT
JO
WBSJPVT
64
BOE
GPSFJHO
UBY
KVSJTEJDUJPOT
5IF
QSPDFTT
PG
EFUFSNJOJOH
JUT
BOUJDJQBUFE
UBY
MJBCJMJUJFT JOWPMWFT
NBOZ
DBMDVMBUJPOT
BOE
FTUJNBUFT
XIJDI
BSF
JOIFSFOUMZ
DPNQMFY
5IF
$PNQBOZ
CFMJFWFT
UIBU
JU
IBT
DPNQMJFE
JO
BMM
NBUFSJBM SFTQFDUT
XJUI
JUT
PCMJHBUJPOT
UP
QBZ
UBYFT
JO
UIFTF
KVSJTEJDUJPOT
)PXFWFS
JUT
QPTJUJPO
JT
TVCKFDU
UP
SFWJFX
BOE
QPTTJCMF
DIBMMFOHF CZ
UIF
UBYJOH
BVUIPSJUJFT
PG
UIFTF
KVSJTEJDUJPOT
*G
UIF
BQQMJDBCMF
UBYJOH
BVUIPSJUJFT
XFSF
UP
DIBMMFOHF
TVDDFTTGVMMZ
JUT
DVSSFOU
UBY QPTJUJPOT
PS
JG
UIFSF
XFSF
DIBOHFT
JO
UIF
NBOOFS
JO
XIJDI
UIF
$PNQBOZ
DPOEVDUT
JUT
BDUJWJUJFT
UIF
$PNQBOZ
DPVME
CFDPNF
TVCKFDU UP
NBUFSJBM
VOBOUJDJQBUFE
UBY
MJBCJMJUJFT
*U
NBZ
BMTP
CFDPNF
TVCKFDU
UP
BEEJUJPOBM
UBY
MJBCJMJUJFT
BT
B
SFTVMU
PG
DIBOHFT
JO
UBY
MBXT XIJDI
DPVME
JO
DFSUBJO
DJSDVNTUBODFT
IBWF
B
SFUSPBDUJWF
FGGFDU
*O
+VMZ

UIF
$PNQBOZT
$BOBEJBO
TVCTJEJBSZ
XBT
OPUJGJFE
UIBU
JUT
JODPNF
UBY
SFUVSOT
GPS
UIF
ZFBST
FOEFE
0DUPCFS

 BOE

IBE
CFFO
TFMFDUFE
GPS
BVEJU
5IF
$PNQBOZ
IBT
QSPWJEFE
BMM
SFRVFTUFE
JOGPSNBUJPO
UP
UIF
$BOBEB
3FWFOVF
"HFODZ
$3" BOE
JT
XPSLJOH
XJUI
UIF
$3"
UP
DPNQMFUF
UIF
BVEJU

&YDFQU
GPS
UIF
BVEJU
OPUFE
BCPWF
OFJUIFS
UIF
$PNQBOZ
OPS
BOZ
PG
JUT
TVCTJEJBSJFT
JT
DVSSFOUMZ
VOEFS
BVEJU
CZ
UIF
*34
PS
CZ
BOZ TUBUF
JODPNF
UBY
KVSJTEJDUJPO
JO
UIF
6OJUFE
4UBUFT
5IF
$PNQBOZT
DPSQPSBUF
64
UBY
SFUVSOT
GPS

BOE
TVCTFRVFOU
ZFBST
SFNBJO TVCKFDU
UP
FYBNJOBUJPO
CZ
UBY
BVUIPSJUJFT
4UBUF
JODPNF
UBY
SFUVSOT
BSF
HFOFSBMMZ
TVCKFDU
UP
FYBNJOBUJPO
GPS
B
QFSJPE
PG
UISFF
UP GJWF
ZFBST
BGUFS
GJMJOH
PG
UIF
SFTQFDUJWF
SFUVSO
5IF
TUBUF
JNQBDU
PG
BOZ
GFEFSBM
DIBOHFT
SFNBJOT
TVCKFDU
UP
FYBNJOBUJPO
CZ
WBSJPVT TUBUFT
GPS
B
QFSJPE
PG
VQ
UP
POF
ZFBS
BGUFS
GPSNBM
OPUJGJDBUJPO
UP
UIF
TUBUFT



*O
UIF
$PNQBOZT
JOUFSOBUJPOBM
UBY
KVSJTEJDUJPOT
OVNFSPVT
UBY
ZFBST
SFNBJO
TVCKFDU
UP
FYBNJOBUJPO
CZ
UBY
BVUIPSJUJFT
JODMVEJOH UBY
SFUVSOT
GPS

BOE
TVCTFRVFOU
ZFBST
JO
NPTU
PG
UIF
$PNQBOZT
JOUFSOBUJPOBM
UBY
KVSJTEJDUJPOT

5IFSF
BSF
OP
VOSFDPHOJ[FE
UBY
CFOFGJUT
BT
PG
%FDFNCFS


BOE
%FDFNCFS



0UIFS

"T
PG
%FDFNCFS


UIF
$PNQBOZ
IBE
OPU
QSPWJEFE
GPSFJHO
XJUIIPMEJOH
UBYFT
PO
BQQSPYJNBUFMZ

NJMMJPO
PG VOEJTUSJCVUFE
FBSOJOHT
GSPN
DFSUBJO
GPSFJHO
TVCTJEJBSJFT
JOEFGJOJUFMZ
JOWFTUFE
PVUTJEF
UIF
64

0O
%FDFNCFS


UIF
6OJUFE
4UBUFT
a64b
FOBDUFE
TJHOJGJDBOU
DIBOHFT
UP
UIF
64
UBY
MBX
GPMMPXJOH
UIF
QBTTBHF
BOE TJHOJOH
PG
UIF
5BY
"DU
5IF
5BY
"DU
JODMVEFE
TJHOJGJDBOU
DIBOHFT
UP
FYJTUJOH
UBY
MBX
TVCTUBOUJBMMZ
FGGFDUJWF
+BOVBSZ

 JODMVEJOH
B
QFSNBOFOU
SFEVDUJPO
UP
UIF
64
GFEFSBM
DPSQPSBUF
JODPNF
UBY
SBUF
GSPN

UP

DIBOHFT
UP
UIF
/0-
VUJMJ[BUJPO SFHVMBUJPOT
SFQFBM
PG
BMUFSOBUJWF
NJOJNVN
UBY
B
POFUJNF
EFFNFE
SFQBUSJBUJPO
UBY
PO
EFGFSSFE
GPSFJHO
JODPNF
a5SBOTJUJPO
5BYb JNQMFNFOUBUJPO
PG
B
UFSSJUPSJBM
UBY
TZTUFN
JNQMFNFOUBUJPO
PG
BOUJEFGFSSBM
BOE
BOUJCBTF
FSPTJPO
QSPWJTJPOT
BOE
QSPWJTJPOT
UP
CPUI BDDFMFSBUF
BOE
MJNJU
DFSUBJO
EFEVDUJPOT
5IF
$PNQBOZ
IBT
SFWBMVFE
JUT
EFGFSSFE
UBY
BTTFUT
BOE
MJBCJMJUJFT
CBTFE
PO
UIF
OFX
DPSQPSBUF UBY
SBUF
"T
UIF
$PNQBOZgT
EFGFSSFE
UBY
BTTFUT
IBWF
B
GVMM
WBMVBUJPO
BMMPXBODF
UIF
$PNQBOZ
IBT
OPU
SFDPSEFE
BOZ
JODPNF
TUBUFNFOU JNQBDU
BT
B
SFTVMU
PG
UIF
SFNFBTVSFNFOU
PG
OFU
EFGFSSFE
UBY
BTTFUT
"DDPSEJOHMZ
UIF
UBY
MBX
DIBOHFT
EJE
OPU
IBWF
B
NBUFSJBM
JNQBDU UP
UIF
GJOBODJBM
TUBUFNFOUT
PG
UIF
$PNQBOZ

"MTP
PO
%FDFNCFS


UIF
4&$
TUBGG
JTTVFE
4UBGG
"DDPVOUJOH
#VMMFUJO
4"#

UP
QSPWJEF
HVJEBODF
GPS
DPNQBOJFT UIBU
BSF
OPU
BCMF
UP
DPNQMFUF
UIFJS
BDDPVOUJOH
GPS
UIF
JODPNF
UBY
FGGFDUT
PG
UIF
5BY
"DU
JO
UIF
QFSJPE
PG
FOBDUNFOU
4"#

QSPWJEFT GPS
B
NFBTVSFNFOU
QFSJPE
PG
VQ
UP
POF
ZFBS
GSPN
UIF
EBUF
PG
FOBDUNFOU
%VSJOH
UIF
NFBTVSFNFOU
QFSJPE
DPNQBOJFT
OFFE
UP
SFGMFDU BEKVTUNFOUT
UP
BOZ
QSPWJTJPOBM
BNPVOUT
JG
JU
PCUBJOT
QSFQBSFT
PS
BOBMZ[FT
BEEJUJPOBM
JOGPSNBUJPO
BCPVU
GBDUT
BOE
DJSDVNTUBODFT UIBU
FYJTUFE
BT
PG
UIF
FOBDUNFOU
EBUF
UIBU
JG
LOPXO
XPVME
IBWF
BGGFDUFE
UIF
JODPNF
UBY
FGGFDUT
JOJUJBMMZ
SFQPSUFE
BT
QSPWJTJPOBM BNPVOUT
5IF
$PNQBOZ
DPNQMFUFE
JUT
BOBMZTJT
PG
UIF
5BY
"DU
BOE
OP
BEKVTUNFOUT
XFSF
NBEF
UP
UIF
QSPWJTJPOBM
BNPVOUT
SFDPSEFE JO
UIF
$PNQBOZgT
GJOBODJBM
TUBUFNFOUT
GPS
UIF
QFSJPE
FOEJOH
PO
%FDFNCFS



*O
+BOVBSZ

UIF
'"4#
SFMFBTFE
HVJEBODF
PO
UIF
BDDPVOUJOH
GPS
UBY
PO
UIF
HMPCBM
JOUBOHJCMF
MPXUBYFE
JODPNF
(*-5* QSPWJTJPOT
PG
UIF
5BY
"DU
5IF
(*-5*
QSPWJTJPOT
JNQPTF
B
UBY
PO
GPSFJHO
JODPNF
JO
FYDFTT
PG
B
EFFNFE
SFUVSO
PO
UBOHJCMF
BTTFUT PG
GPSFJHO
DPSQPSBUJPOT
5IF
HVJEBODF
JOEJDBUFT
UIBU
FJUIFS
BDDPVOUJOH
GPS
EFGFSSFE
UBYFT
SFMBUFE
UP
(*-5*
JODMVTJPOT
PS
USFBUJOH BOZ
UBYFT
PO
(*-5*
JODMVTJPOT
BT
QFSJPE
DPTUT
BSF
CPUI
BDDFQUBCMF
NFUIPET
TVCKFDU
UP
BO
BDDPVOUJOH
QPMJDZ
FMFDUJPO
5IF
$PNQBOZ IBT
FMFDUFE
UP
BDDPVOU
GPS
(*-5*
UBY
JO
UIF
QFSJPE
JO
XIJDI
JU
JT
JODVSSFE
BOE
UIFSFGPSF
IBT
OPU
QSPWJEFE
BOZ
EFGFSSFE
UBY
JNQBDUT PG
(*-5*
JO
JUT
DPOTPMJEBUFE
GJOBODJBM
TUBUFNFOUT
GPS
UIF
ZFBST
FOEFE
%FDFNCFS


BOE
%FDFNCFS



 
&"3/*/(4
-044
1&3
4)"3&

#BTJD
FBSOJOHT
MPTT
QFS
TIBSF
JT
DPNQVUFE
CZ
EJWJEJOH
JODPNF
MPTT
BWBJMBCMF
UP
DPNNPO
TUPDLIPMEFST
CZ
UIF
XFJHIUFE BWFSBHF
OVNCFS
PG
TIBSFT
PG
DPNNPO
TUPDL
PVUTUBOEJOH
EVSJOH
UIF
QFSJPE
5IF
OVNFSBUPS
VTFE
UP
DBMDVMBUF
EJMVUFE
&14
JODMVEFT UIF
FGGFDU
PG
EJMVUJWF
TFDVSJUJFT
JODMVEJOH
JOUFSFTU
FYQFOTF
OFU
BOE
EFSJWBUJWF
HBJOT
PS
MPTTFT
SFGMFDUFE
JO
OFU
JODPNF
MPTT 
$PNNPO TUPDL
FRVJWBMFOUT
BSF
JODMVEFE
JO
UIF
DBMDVMBUJPO
PG
EJMVUFE
FBSOJOHT
QFS
TIBSF
POMZ
XIFO
UIF
FGGFDU
PG
UIFJS
JODMVTJPO
XPVME
CF EJMVUJWF
1PUFOUJBMMZ
EJMVUJWF
TFDVSJUJFT
JODMVEF
QSJNBSJMZ
PVUTUBOEJOH
TUPDLCBTFE
BXBSET
DPOWFSUJCMF
OPUFT
XBSSBOUT
BOE
TIBSFT JTTVBCMF
QVSTVBOU
UP
UIF
$PNQBOZT
&NQMPZFF
4UPDL
1VSDIBTF
1MBO

5IF
GPMMPXJOH
UBCMF
TFUT
GPSUI
UIF
DBMDVMBUJPO
PG
CBTJD
BOE
EJMVUFE
FBSOJOHT
MPTT
QFS
TIBSF
BOE
SFDPODJMFT
CBTJD
XFJHIUFE BWFSBHF
TIBSFT
UP
EJMVUFE
XFJHIUFE
BWFSBHF
TIBSFT
PG
DPNNPO
TUPDL
PVUTUBOEJOH
GPS
UIF
QFSJPET
JOEJDBUFE
JO
UIPVTBOET 

:FBS
FOEFE
%FDFNCFS
    /FU
JODPNF
MPTT          &GGFDU
PG
EJMVUJWF
TFDVSJUJFT 

/PUFT  kk -PBO
"HSFFNFOU
XJUI
5IFSNP   kk -PTT
UP
DPNNPO
TUPDLIPMEFST
QMVT
BTTVNFE
DPOWFSTJPOT          8FJHIUFE
BWFSBHF
DPNNPO
TIBSFT
PVUTUBOEJOH #BTJD
TIBSFT
PVUTUBOEJOH          *ODSFNFOUBM
TIBSFT
GSPN
BTTVNFE
FYFSDJTFT
DPOWFSTJPOT
BOE PUIFS
JTTVBODF
PG 4UPDL
PQUJPOT
SFTUSJDUFE
TUPDL
SFTUSJDUFE
TUPDL
VOJUT
BOE &411   k k 

/PUFT   k k -PBO
"HSFFNFOU
XJUI
5IFSNP   k k 8BSSBOUT
JTTVFE
JO
DPOOFDUJPO
XJUI
4FDPOE
-JFO
5FSN -PBO
'BDJMJUZ   k k %JMVUFE
TIBSFT
PVUTUBOEJOH          *ODPNF
MPTT
QFS
TIBSF #BTJD       %JMVUFE      

'PS
UIF
ZFBST
FOEFE
%FDFNCFS


BOE


NJMMJPO
BOE

NJMMJPO
TIBSFT
PG
QPUFOUJBM
DPNNPO
TUPDL SFTQFDUJWFMZ
XFSF
FYDMVEFE
GSPN
EJMVUFE
TIBSFT
PVUTUBOEJOH
CFDBVTF
UIF
FGGFDUT
PG
QPUFOUJBMMZ
EJMVUJWF
TFDVSJUJFT
XPVME
CF
BOUJ EJMVUJWF

*O
DPOOFDUJPO
XJUI
UIF
4FDPOE
-JFO
5FSN
-PBO
'BDJMJUZ
FOUFSFE
JOUP
JO
/PWFNCFS

UIF
$PNQBOZ
JTTVFE

NJMMJPO XBSSBOUT
UP
QVSDIBTF
UIF
$PNQBOZT
DPNNPO
TUPDL
UP
UIF
EFCU
IPMEFST
BT
DPOTJEFSBUJPO
GPS
UIF
MPBO
"T
PG
%FDFNCFS

 BQQSPYJNBUFMZ

NJMMJPO
XBSSBOUT
SFNBJO
PVUTUBOEJOH
3FGFS
UP
/PUF

-POH5FSN
%FCU
BOE
0UIFS
'JOBODJOH
"SSBOHFNFOUT GPS
GVSUIFS
EJTDVTTJPO
PO
UIFTF
XBSSBOUT


450$,
$0.1&/4"5*0/

5IF
$PNQBOZgT

&RVJUZ
*ODFOUJWF
1MBO
a&RVJUZ
1MBOb
QSPWJEFT
MPOHUFSN
JODFOUJWFT
UP
UIF
$PNQBOZgT
LFZ
FNQMPZFFT JODMVEJOH
PGGJDFST
EJSFDUPST
DPOTVMUBOUT
BOE
BEWJTFST
a&MJHJCMF
1BSUJDJQBOUTb
BOE
JT
EFTJHOFE
UP
BMJHO
TUPDLIPMEFS
BOE
FNQMPZFF JOUFSFTUT
6OEFS
UIF
&RVJUZ
1MBO
UIF
$PNQBOZ
NBZ
HSBOU
JODFOUJWF
TUPDL
PQUJPOT
OPOTUBUVUPSZ
TUPDL
PQUJPOT
SFTUSJDUFE
TUPDL BXBSET
SFTUSJDUFE
TUPDL
VOJUT
BOE
PUIFS
TUPDL
CBTFE
BXBSET
PS
BOZ
DPNCJOBUJPO
UIFSFPG
UP
&MJHJCMF
1BSUJDJQBOUT
5IF
$PNQFOTBUJPO $PNNJUUFF
PG
UIF
$PNQBOZgT
#PBSE
PG
%JSFDUPST
FTUBCMJTIFT
UIF
UFSNT
BOE
DPOEJUJPOT
PG
BOZ
BXBSET
HSBOUFE
VOEFS
UIF
QMBOT
"T PG
%FDFNCFS


BOE

UIF
OVNCFS
PG
TIBSFT
PG
DPNNPO
TUPDL
UIBU
XBT
BVUIPSJ[FE
BOE
SFNBJOFE
BWBJMBCMF
GPS
JTTVBODF VOEFS
UIF
&RVJUZ
1MBO
XBT

NJMMJPO
BOE

NJMMJPO
SFTQFDUJWFMZ
*O

UIF
TUPDLIPMEFST
PG
(MPCBMTUBS
BQQSPWFE
BNFOENFOUT UP
UIF
$PNQBOZT
&RVJUZ
1MBO
LFZ
DIBOHFT
JODMVEFE
UIF
BVUIPSJ[BUJPO
PG
BO
BEEJUJPOBM

NJMMJPO
TIBSFT
GPS
GVUVSF
JTTVBODF
BT XFMM
BT
FYUFOTJPO
PG
UIF
UFSN
PG
UIF
&RVJUZ
1MBO
UISPVHI
'FCSVBSZ




4UPDL
0QUJPOT
5IF
$PNQBOZ
IBT
HSBOUFE
JODFOUJWF
TUPDL
PQUJPOT
VOEFS
UIF
&RVJUZ
1MBO
5IFTF
PQUJPOT
IBWF
WBSJPVT
WFTUJOH
UFSNT
CVU
HFOFSBMMZ WFTU
JO
FRVBM
JOTUBMMNFOUT
PWFS
UISFF
PS
GPVS
ZFBST
BOE
FYQJSF
JO
UFO
ZFBST
/POWFTUFE
PQUJPOT
BSF
HFOFSBMMZ
GPSGFJUFE
VQPO
UFSNJOBUJPO PG
FNQMPZNFOU 5IF
$PNQBOZ
SFDPHOJ[FT
DPNQFOTBUJPO
FYQFOTF
GPS
TUPDL
PQUJPO
HSBOUT
CBTFE
PO
UIF
GBJS
WBMVF
BU
UIF
EBUF
PG
HSBOU
VTJOH
UIF #MBDL4DIPMFT
PQUJPO
QSJDJOH
NPEFM
5IF
$PNQBOZ
VTFT
IJTUPSJDBM
EBUB
BNPOH
PUIFS
GBDUPST
UP
FTUJNBUF
UIF
FYQFDUFE
TUPDL
QSJDF WPMBUJMJUZ
UIF
FYQFDUFE
PQUJPO
MJGF
BOE
UIF
FYQFDUFE
GPSGFJUVSF
SBUF
5IF
NBSLFU
QSJDF
PG
DPNNPO
TUPDL
IBT
CFFO
WPMBUJMF
BU
UJNFT JO
SFDFOU
ZFBST
5IF
$PNQBOZ
NBLFT
KVEHNFOUBM
BEKVTUNFOUT
UP
QSPKFDU
WPMBUJMJUZ
EVSJOH
UIF
FYQFDUFE
UFSN
PG
UIF
PQUJPOT DPOTJEFSJOH
BNPOH
PUIFS
UIJOHT
IJTUPSJDBM
WPMBUJMJUZ
PG
UIF
TIBSF
QSJDFT
PG
JUT
QFFS
HSPVQ
BOE
FYQFDUBUJPOT
XJUI
SFHBSE
UP
CVTJOFTT DPOEJUJPOT
UIBU
NBZ
JNQBDU
TUPDL
QSJDF
GMVDUVBUJPOT
PS
TUBCJMJUZ
5IF
$PNQBOZ
FTUJNBUFT
UIF
FYQFDUFE
UFSN
DPOTJEFSJOH
GBDUPST TVDI
BT
IJTUPSJDBM
FYFSDJTF
QBUUFSOT
BOE
UIF
SFDJQJFOUT
PG
UIF
PQUJPOT
HSBOUFE
5IF
SJTLGSFF
SBUF
JT
CBTFE
PO
UIF
6OJUFE
4UBUFT
5SFBTVSZ %FQBSUNFOU
ZJFME
DVSWF
JO
FGGFDU
BU
UIF
UJNF
PG
HSBOU
GPS
UIF
FYQFDUFE
MJGF
PG
UIF
PQUJPO
5IF
$PNQBOZ
BTTVNFT
BO
FYQFDUFE
EJWJEFOE ZJFME
PG
[FSP
GPS
BMM
QFSJPET
5IF
UBCMF
CFMPX
TVNNBSJ[FT
UIF
BTTVNQUJPOT
GPS
UIF
JOEJDBUFE
QFSJPET

:FBS
&OEFE
%FDFNCFS
    3JTLGSFF
JOUFSFTU
SBUF  

  &YQFDUFE
UFSN
PG
PQUJPOT
ZFBST    7PMBUJMJUZ    8FJHIUFE
BWFSBHF
HSBOUEBUF
GBJS
WBMVF
QFS
TIBSF      

5IF
GPMMPXJOH
UBCMF
SFQSFTFOUT
UIF
$PNQBOZgT
TUPDL
PQUJPO
BDUJWJUZ
GPS
UIF
ZFBS
FOEFE
%FDFNCFS



8FJHIUFE
"WFSBHF 4IBSFT &YFSDJTF
1SJDF 0VUTUBOEJOH
BU
+BOVBSZ

      &YFSDJTFE    'PSGFJUFE
PS
FYQJSFE    0VUTUBOEJOH
BU
%FDFNCFS

    

&YFSDJTBCMF
BU
%FDFNCFS

     
5IF
$PNQBOZ
EJE
OPU
HSBOU
BOZ
TUPDL
PQUJPOT
EVSJOH

BDDPSEJOHMZ
OP
BNPVOUT
BSF
TIPXO
JO
UIF
UBCMF
BCPWF

5IF
GPMMPXJOH
UBCMF
TVNNBSJ[FT
UIF
BHHSFHBUF
JOUSJOTJD
WBMVF
PG
TUPDL
PQUJPOT
FYFSDJTFE
EVSJOH
UIF
ZFBST
JOEJDBUFE
CFMPX
JO UIPVTBOET 
:FBS
&OEFE
%FDFNCFS
    *OUSJOTJD
WBMVF
PG
TUPDL
PQUJPOT
FYFSDJTFE      
5IF
JOUSJOTJD
WBMVF
PG
B
TUPDL
PQUJPO
JT
UIF
BNPVOU
CZ
XIJDI
UIF
NBSLFU
WBMVF
PG
UIF
VOEFSMZJOH
TUPDL
FYDFFET
UIF
FYFSDJTF QSJDF
PG
UIF
PQUJPO
/FU
DBTI
QSPDFFET
EVSJOH
UIF
ZFBS
FOEFE
%FDFNCFS


GSPN
UIF
FYFSDJTF
PG
TUPDL
PQUJPOT
XBT
MFTT
UIBO 
NJMMJPO
5IF
BHHSFHBUF
JOUSJOTJD
WBMVF
PG
BMM
PVUTUBOEJOH
TUPDL
PQUJPOT
BU
%FDFNCFS


XBT

NJMMJPO
XJUI
B
SFNBJOJOH DPOUSBDUVBM
MJGF
PG

ZFBST
5IF
BHHSFHBUF
JOUSJOTJD
WBMVF
PG
BMM
WFTUFE
TUPDL
PQUJPOT
BU
%FDFNCFS


XBT

NJMMJPO
XJUI B
SFNBJOJOH
DPOUSBDUVBM
MJGF
PG

ZFBST
5IF
GPMMPXJOH
UBCMF
QSFTFOUT
DPNQFOTBUJPO
FYQFOTF
SFMBUFE
UP
TUPDL
PQUJPOT
GPS
UIF
ZFBST
JOEJDBUFE
CFMPX
JO
NJMMJPOT 
:FBS
&OEFE
%FDFNCFS
    5PUBM
DPNQFOTBUJPO
FYQFOTF      


*O
SFDFOU
ZFBST
UIF
$PNQBOZ
IBT
BEKVTUFE
JUT
QIJMPTPQIZ
SFMBUFE
UP
FRVJUZ
DPNQFOTBUJPO
BOE
IBT
JODSFBTFE
UIF
WPMVNF
PG
HSBOUT PG
SFTUSJDUFE
TUPDL
BXBSE
BOE
VOJUT
TIPXO
JO
NPSF
EFUBJM
CFMPX
BOE
IBT
EFDSFBTFE
UIF
WPMVNF
PG
HSBOUT
PG
TUPDL
PQUJPOT
5IJT DIBOHF
JO
DPNQFOTBUJPO
QIJMPTPQIZ
IBT
SFTVMUFE
JO
MPXFS
DPNQFOTBUJPO
DPTU
SFDPHOJ[FE
EVSJOH

"T
PG
%FDFNCFS

 VOSFDPHOJ[FE
DPNQFOTBUJPO
FYQFOTF
SFMBUFE
UP
OPOWFTUFE
TUPDL
PQUJPOT
PVUTUBOEJOH
XBT
BQQSPYJNBUFMZ

NJMMJPO
UP
CF SFDPHOJ[FE
PWFS
B
XFJHIUFEBWFSBHF
QFSJPE
PG

ZFBST

5IF
$PNQBOZ
BEKVTUT
JUT
FTUJNBUFT
PG
FYQFDUFE
GPSGFJUVSFT
PG
FRVJUZ
BXBSET
CBTFE
VQPO
JUT
SFWJFX
PG
SFDFOU
GPSGFJUVSF
BDUJWJUZ BOE
FYQFDUFE
GVUVSF
FNQMPZFF
UVSOPWFS
5IF
$PNQBOZ
DPOTJEFST
UIF
JNQBDU
PG
CPUI
QSFWFTUJOH
GPSGFJUVSFT
BOE
QPTUWFTUJOH DBODFMMBUJPOT
GPS
QVSQPTFT
PG
FWBMVBUJOH
GPSGFJUVSF
FTUJNBUFT
5IF
FGGFDU
PG
BEKVTUJOH
UIF
GPSGFJUVSF
SBUF
JT
SFDPHOJ[FE
JO
UIF
QFSJPE JO
XIJDI
UIF
GPSGFJUVSF
FTUJNBUF
JT
DIBOHFE

3FTUSJDUFE
4UPDL
4IBSFT
PG
SFTUSJDUFE
TUPDL
HFOFSBMMZ
WFTU
JNNFEJBUFMZ
POF
ZFBS
GSPN
UIF
HSBOU
EBUF
JO
FRVBM
BOOVBM
JOTUBMMNFOUT
PWFS
UISFF ZFBST
PS
CBTFE
PO
QFSGPSNBODF
DSJUFSJB
/POWFTUFE
TIBSFT
BSF
HFOFSBMMZ
GPSGFJUFE
VQPO
UIF
UFSNJOBUJPO
PG
FNQMPZNFOU
)PMEFST PG
SFTUSJDUFE
TUPDL
BXBSET
BSF
FOUJUMFE
UP
BMM
SJHIUT
PG
B
TUPDLIPMEFS
PG
UIF
$PNQBOZ
XJUI
SFTQFDU
UP
UIF
SFTUSJDUFE
TUPDL
JODMVEJOH UIF
SJHIU
UP
WPUF
UIF
TIBSFT
BOE
SFDFJWF
BOZ
EJWJEFOET
PS
PUIFS
EJTUSJCVUJPOT
$PNQFOTBUJPO
FYQFOTF
BTTPDJBUFE
XJUI
SFTUSJDUFE
TUPDL JT
NFBTVSFE
CBTFE
PO
UIF
HSBOU
EBUF
GBJS
WBMVF
PG
UIF
DPNNPO
TUPDL
BOE
JT
SFDPHOJ[FE
PO
B
TUSBJHIU
MJOF
CBTJT
PWFS
UIF
WFTUJOH QFSJPE
5IF
UBCMF
CFMPX
TVNNBSJ[FT
UIF
XFJHIUFE
BWFSBHF
HSBOU
EBUF
GBJS
WBMVF
PG
SFTUSJDUFE
TUPDL
GPS
UIF
JOEJDBUFE
QFSJPET

:FBS
&OEFE
%FDFNCFS
    8FJHIUFE
BWFSBHF
HSBOU
EBUF
GBJS
WBMVF      
5IF
GPMMPXJOH
JT
B
SPMMGPSXBSE
PG
UIF
BDUJWJUZ
JO
SFTUSJDUFE
TUPDL
GPS
UIF
ZFBS
FOEFE
%FDFNCFS



8FJHIUFE
"WFSBHF (SBOU
%BUF 4IBSFT 'BJS
7BMVF /POWFTUFE
BU
+BOVBSZ

      (SBOUFE     7FTUFE     'PSGFJUFE    /POWFTUFE
BU
%FDFNCFS

     
"QQSPYJNBUFMZ

NJMMJPO
QFSGPSNBODFCBTFE
SFTUSJDUFE
TUPDL
BXBSET
BSF
SFGMFDUFE
JO
UIF
OPOWFTUFE
CBMBODF
BU
+BOVBSZ

 BOE
%FDFNCFS



5IF
GPMMPXJOH
UBCMF
SFQSFTFOUT
UIF
DPNQFOTBUJPO
FYQFOTF
SFMBUFE
UP
SFTUSJDUFE
TUPDL
GPS
UIF
ZFBST
JOEJDBUFE
CFMPX
JO
NJMMJPOT  :FBS
&OEFE
%FDFNCFS
    5PUBM
DPNQFOTBUJPO
FYQFOTF      
5IF
UPUBM
GBJS
WBMVF
BT
DBMDVMBUFE
PO
UIF
EBZ
PG
WFTUJOH
PG
SFTUSJDUFE
TUPDL
BXBSET
UIBU
WFTUFE
EVSJOH


BOE

XBT 
NJMMJPO

NJMMJPO
BOE

NJMMJPO
SFTQFDUJWFMZ
"T
PG
%FDFNCFS


VOSFDPHOJ[FE
DPNQFOTBUJPO
FYQFOTF
SFMBUFE UP
VOWFTUFE
SFTUSJDUFE
TUPDL
PVUTUBOEJOH
XBT
BQQSPYJNBUFMZ

NJMMJPO
UP
CF
SFDPHOJ[FE
PWFS
B
XFJHIUFEBWFSBHF
QFSJPE
PG
 ZFBST

 ,FZ
&NQMPZFF
#POVT
1MBO

5IF
$PNQBOZ
IBT
BO
BOOVBM
CPOVT
QMBO
EFTJHOFE
UP
SFXBSE
EFTJHOBUFE
LFZ
FNQMPZFFT
FGGPSUT
UP
FYDFFE
UIF
$PNQBOZT
GJOBODJBM QFSGPSNBODF
HPBMT
GPS
UIF
EFTJHOBUFE
DBMFOEBS
ZFBS
1MBO
:FBS 
5IF
CPOVT
QPPM
BWBJMBCMF
GPS
EJTUSJCVUJPO
JT
EFUFSNJOFE
CBTFE PO
UIF
$PNQBOZT
BEKVTUFE
&#*5%"
QFSGPSNBODF
EVSJOH
UIF
1MBO
:FBS
5IF
CPOVT
NBZ
CF
QBJE
JO
DBTI
PS
UIF
$PNQBOZT
DPNNPO TUPDL
BT
EFUFSNJOFE
CZ
UIF
$PNQFOTBUJPO
$PNNJUUFF
BOE
XJUI
UIF
DPOTFOU
PG
PVS
-FOEFST
JG
QBJE
DBTI

'PS
UIF

1MBO
:FBS
UIF
$PNQBOZT
BEKVTUFE
&#*5%"
QFSGPSNBODF
XBT
XJUIJO
UIF
CPOVT
QBZPVU
UISFTIPME
BDDPSEJOH
UP UIF
QMBO
EPDVNFOU
"T
PG
%FDFNCFS



NJMMJPO
XBT
BDDSVFE
PO
UIF
$PNQBOZT
DPOTPMJEBUFE
CBMBODF
TIFFU
SFMBUFE
UP UIJT
CPOVT
QBZNFOU
XIJDI
JT
FYQFDUFE
UP
CF
NBEF
JO
UIF
GPSN
PG
DPNNPO
TUPDL
EVSJOH
UIF
GJSTU
RVBSUFS
PG


&NQMPZFF
4UPDL
1VSDIBTF
1MBO
5IF
$PNQBOZ
IBT
BO
&NQMPZFF
4UPDL
1VSDIBTF
1MBO
UIF
a1MBOb
XIJDI
QSPWJEFT
FMJHJCMF
FNQMPZFFT
PG
UIF
$PNQBOZ
BOE
JUT TVCTJEJBSJFT
XJUI
BO
PQQPSUVOJUZ
UP
BDRVJSF
TIBSFT
PG
JUT
DPNNPO
TUPDL
BU
B
EJTDPVOU
5IF
NBYJNVN
BHHSFHBUF
OVNCFS
PG
TIBSFT PG
DPNNPO
TUPDL
UIBU
NBZ
CF
QVSDIBTFE
UISPVHI
UIF
1MBO
JT

NJMMJPO
TIBSFT
5IF
OVNCFS
PG
TIBSFT
UIBU
NBZ
CF
QVSDIBTFE UISPVHI
UIF
1MBO
XJMM
CF
TVCKFDU
UP
QSPQPSUJPOBUF
BEKVTUNFOUT
UP
SFGMFDU
TUPDL
TQMJUT
TUPDL
EJWJEFOET
PS
PUIFS
DIBOHFT
JO
UIF $PNQBOZgT
DBQJUBM
TUPDL
*O

UIF
TUPDLIPMEFST
PG
(MPCBMTUBS
BQQSPWFE
BO
BNFOENFOU
UP
UIF
$PNQBOZT
&RVJUZ
1MBO
LFZ DIBOHFT
JODMVEFE
UIF
BVUIPSJ[BUJPO
PG
BO
BEEJUJPOBM

NJMMJPO
TIBSFT
GPS
GVUVSF
JTTVBODF
BT
XFMM
BT
B

BOOVBM
JODSFBTF
UP
UIF NBYJNVN
BHHSFHBUF
OVNCFS
PG
TIBSFT
BWBJMBCMF
GPS
HSBOU
JO
GVUVSF
ZFBST
5IF
1MBO
QFSNJUT
FMJHJCMF
FNQMPZFFT
UP
QVSDIBTF
TIBSFT
PG
DPNNPO
TUPDL
EVSJOH
UXP
TFNJBOOVBM
PGGFSJOH
QFSJPET
CFHJOOJOH PO
+VOF

BOE
%FDFNCFS

UIF
a0GGFSJOH
1FSJPETb
VOMFTT
BEKVTUFE
CZ
UIF
$PNQBOZT
#PBSE
PG
%JSFDUPST
PS
POF
PG
JUT
EFTJHOBUFE DPNNJUUFFT
&MJHJCMF
FNQMPZFFT
NBZ
QVSDIBTF
TIBSFT
PG
VQ
UP

PG
UIFJS
UPUBM
DPNQFOTBUJPO
QFS
QBZ
QFSJPE
CVU
NBZ
QVSDIBTF JO
BOZ
DBMFOEBS
ZFBS
OP
NPSF
UIBO
UIF
MFTTFS
PG
 
JO
GBJS
NBSLFU
WBMVF
PG
DPNNPO
TUPDL
PS
 
TIBSFT
PG
DPNNPO
TUPDL BT
NFBTVSFE
BT
PG
UIF
GJSTU
EBZ
PG
FBDI
BQQMJDBCMF
0GGFSJOH
1FSJPE
5IF
QSJDF
BO
FNQMPZFF
QBZT
JT

PG
UIF
GBJS
NBSLFU
WBMVF
PG DPNNPO
TUPDL

'BJS
NBSLFU
WBMVF
JT
FRVBM
UP
UIF
MFTTFS
PG
UIF
DMPTJOH
QSJDF
PG
B
TIBSF
PG
DPNNPO
TUPDL
PO
FJUIFS
UIF
GJSTU
EBZ
PS UIF
MBTU
EBZ
PG
UIF
0GGFSJOH
1FSJPE


'PS
UIF
ZFBST
FOEFE
%FDFNCFS


BOE

UIF
$PNQBOZ
SFDFJWFE

NJMMJPO
BOE

NJMMJPO
SFTQFDUJWFMZ
SFMBUFE UP
TIBSFT
JTTVFE
VOEFS
UIJT
QMBO
'PS
FBDI
PG

BOE

UIF
$PNQBOZ
SFDPSEFE
DPNQFOTBUJPO
FYQFOTF
PG
BQQSPYJNBUFMZ
 NJMMJPO
XIJDI
JT
SFGMFDUFE
JO
NBSLFUJOH
HFOFSBM
BOE
BENJOJTUSBUJWF
FYQFOTFT
"EEJUJPOBMMZ
UIF
$PNQBOZ
IBT
JTTVFE
BQQSPYJNBUFMZ 
NJMMJPO
TIBSFT
UISPVHI
%FDFNCFS


SFMBUFE
UP
UIF
1MBO
5IF
GBJS
WBMVF
PG
UIF
FNQMPZFFTg
TUPDL
QVSDIBTF
SJHIUT
HSBOUFE
VOEFS
UIF
&411
XBT
FTUJNBUFE
VTJOH
UIF
#MBDL4DIPMFT
PQUJPO QSJDJOH
NPEFM
XJUI
UIF
GPMMPXJOH
BTTVNQUJPOT
GPS
UIF
GPMMPXJOH
ZFBST

:FBS
&OEFE
%FDFNCFS
   3JTLGSFF
JOUFSFTU
SBUF   &YQFDUFE
UFSN
NPOUIT  7PMBUJMJUZ   8FJHIUFE
BWFSBHF
HSBOUEBUF
GBJS
WBMVF
QFS
TIBSF    

"$$6.6-"5&%
05)&3
$0.13&)&/4*7&
-044
"DDVNVMBUFE
PUIFS
DPNQSFIFOTJWF
MPTT
JODMVEFT
BMM
DIBOHFT
JO
FRVJUZ
EVSJOH
B
QFSJPE
GSPN
OPOPXOFS
TPVSDFT
5IF
DIBOHF
JO BDDVNVMBUFE
PUIFS
DPNQSFIFOTJWF
MPTT
GPS
BMM
QFSJPET
QSFTFOUFE
SFTVMUFE
GSPN
GPSFJHO
DVSSFODZ
USBOTMBUJPO
BEKVTUNFOUT
BOE NJOJNVN
QFOTJPO
MJBCJMJUZ
BEKVTUNFOUT

 5IF
DPNQPOFOUT
PG
BDDVNVMBUFE
PUIFS
DPNQSFIFOTJWF
MPTT
XFSF
BT
GPMMPXT
JO
UIPVTBOET  %FDFNCFS
   "DDVNVMBUFE
NJOJNVN
QFOTJPO
MJBCJMJUZ
BEKVTUNFOU       "DDVNVMBUFE
OFU
GPSFJHO
DVSSFODZ
USBOTMBUJPO
BEKVTUNFOU     5PUBM
BDDVNVMBUFE
PUIFS
DPNQSFIFOTJWF
MPTT      
5IF
NJOJNVN
QFOTJPO
MJBCJMJUZ
BEKVTUNFOU
JO
UIF
UBCMF
BCPWF
JODMVEFT
B
TFUUMFNFOU
MPTT
PG

NJMMJPO
*O
%FDFNCFS
 UIF
$PNQBOZ
TFUUMFE
B
QPSUJPO
PG
JUT
QFOTJPO
MJBCJMJUZ
SFMBUFE
UP
UFSNJOBUFE
WFTUFE
FNQMPZFFT
JO
UIF
(MPCBMTUBS
1MBO
BT
B
EFSJTLJOH TUSBUFHZ
5IF
TFUUMFNFOU
SFTVMUFE
JO
B
SFEVDUJPO
UP
UIF
QSPKFDUFE
CFOFGJU
PCMJHBUJPO
BOE
B
DPSSFTQPOEJOH
EFDSFBTF
UP
QMBO
BTTFUT
BT PG
%FDFNCFS


*O
BDDPSEBODF
XJUI
"4$

$PNQFOTBUJPO
b
3FUJSFNFOU
#FOFGJUT
UIF
$PNQBOZ
SFDPHOJ[FE
B
MPTT
PG 
NJMMJPO
JO
PUIFS
DPNQSFIFOTJWF
JODPNF
BOE
OPOPQFSBUJOH
FYQFOTF
EVSJOH

BTTPDJBUFE
XJUI
UIJT
TFUUMFNFOU
5IJT
MPTT SFQSFTFOUT
UIF
QSP
SBUB
QPSUJPO
PG
BDUVBSJBM
MPTTFT
UIBU
XFSF
QSFWJPVTMZ
EFGFSSFE
JO
PUIFS
DPNQSFIFOTJWF
JODPNF

/P
BNPVOUT
XFSF
SFDMBTTJGJFE
PVU
PG
BDDVNVMBUFE
PUIFS
DPNQSFIFOTJWF
MPTT
GPS
UIF
QFSJPET
TIPXO
BCPWF

26"35&3-:
'*/"/$*"-
*/'03."5*0/
6/"6%*5&%

5IF
GPMMPXJOH
JT
B
TVNNBSZ
PG
DPOTPMJEBUFE
RVBSUFSMZ
GJOBODJBM
JOGPSNBUJPO
BNPVOUT
JO
UIPVTBOET
FYDFQU
QFS
TIBSF
EBUB 
2VBSUFS
&OEFE  .BSDI
 +VOF
 4FQU
 %FD
 5PUBM
SFWFOVF             -PTT
GSPN
PQFSBUJPOT             /FU
JODPNF
MPTT             #BTJD
JODPNF
MPTT
QFS
DPNNPO
TIBSF         %JMVUFE
MPTT
QFS
DPNNPO
TIBSF         4IBSFT
VTFE
JO
CBTJD
QFS
TIBSF
DBMDVMBUJPOT             4IBSFT
VTFE
JO
EJMVUFE
QFS
TIBSF
DBMDVMBUJPOT            
2VBSUFS
&OEFE  .BSDI
 +VOF
 4FQU
 %FD
 5PUBM
SFWFOVF             0QFSBUJOH
JODPNF
MPTT             /FU
JODPNF
MPTT             #BTJD
JODPNF
MPTT
QFS
DPNNPO
TIBSF         %JMVUFE
MPTT
QFS
DPNNPO
TIBSF         4IBSFT
VTFE
JO
CBTJD
QFS
TIBSF
DBMDVMBUJPOT             4IBSFT
VTFE
JO
EJMVUFE
QFS
TIBSF
DBMDVMBUJPOT            
%VSJOH
UIF
UIJSE
RVBSUFS
PG

UIF
$PNQBOZ
JEFOUJGJFE
B
NJTBQQMJDBUJPO
PG
(""1
JO
UIF
QSFWJPVTMZ
SFQPSUFE
DBMDVMBUJPO
PG OFU
JODPNF
MPTT
BUUSJCVUBCMF
UP
DPNNPO
TUPDLIPMEFST
JO
UIF
OVNFSBUPS
PG
EJMVUFE
&14
GPS
DFSUBJO
QSJPS
QFSJPET
5IF
DPSSFDUJPO PG
UIJT
DBMDVMBUJPO
IBE
OP
JNQBDU
PO
OFU
JODPNF
MPTT
SFUBJOFE
EFGJDJU
PS
BOZ
PUIFS
GJOBODJBM
TUBUFNFOU
MJOF
JUFNT
'PS
DPNQBSBUJWF QVSQPTFT
QSJPS
QFSJPE
DBMDVMBUJPOT
PG
EJMVUFE
&14
IBWF
CFFO
BEKVTUFE
UP
DPOGPSN
UP
DVSSFOU
QFSJPE
QSFTFOUBUJPO
BT
OFDFTTBSZ UISPVHIPVU
UIJT
GJMJOH

 *UFN

$IBOHFT
JO
BOE
%JTBHSFFNFOUT
XJUI
"DDPVOUBOUT
PO
"DDPVOUJOH
BOE
'JOBODJBM
%JTDMPTVSF
/PU
BQQMJDBCMF
*UFN
"
$POUSPMT
BOE
1SPDFEVSFT

B &WBMVBUJPO
PG
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT

0VS
NBOBHFNFOU
XJUI
UIF
QBSUJDJQBUJPO
PG
PVS
1SJODJQBM
&YFDVUJWF
0GGJDFS
BOE
1SJODJQBM
'JOBODJBM
0GGJDFS
FWBMVBUFE
UIF FGGFDUJWFOFTT
PG
PVS
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT
QVSTVBOU
UP
3VMF
B C
VOEFS
UIF
4FDVSJUJFT
&YDIBOHF
"DU
PG

BT PG
%FDFNCFS


UIF
FOE
PG
UIF
QFSJPE
DPWFSFE
CZ
UIJT
3FQPSU
5IJT
FWBMVBUJPO
XBT
CBTFE
PO
UIF
HVJEFMJOFT
FTUBCMJTIFE
JO *OUFSOBM
$POUSPM

*OUFHSBUFE
'SBNFXPSL
JTTVFE
JO

CZ
UIF
$PNNJUUFF
PG
4QPOTPSJOH
0SHBOJ[BUJPOT
PG
UIF
5SFBEXBZ $PNNJTTJPO
$040 
*O
EFTJHOJOH
BOE
FWBMVBUJOH
UIF
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT
NBOBHFNFOU
SFDPHOJ[FE
UIBU
BOZ
DPOUSPMT BOE
QSPDFEVSFT
OP
NBUUFS
IPX
XFMM
EFTJHOFE
BOE
PQFSBUFE
DBO
QSPWJEF
POMZ
SFBTPOBCMF
BTTVSBODF
PG
BDIJFWJOH
UIF
EFTJSFE
DPOUSPM PCKFDUJWFT
#BTFE
PO
UIJT
FWBMVBUJPO
FBDI
PG
PVS
1SJODJQBM
&YFDVUJWF
0GGJDFS
BOE
1SJODJQBM
'JOBODJBM
0GGJDFS
DPODMVEFE
UIBU
BT
PG %FDFNCFS


PVS
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT
XFSF
FGGFDUJWF
UP
QSPWJEF
SFBTPOBCMF
BTTVSBODF
UIBU
JOGPSNBUJPO
XF BSF
SFRVJSFE
UP
EJTDMPTF
JO
SFQPSUT
UIBU
XF
GJMF
PS
TVCNJU
VOEFS
UIF
&YDIBOHF
"DU
JT
SFDPSEFE
QSPDFTTFE
TVNNBSJ[FE
BOE
SFQPSUFE XJUIJO
UIF
UJNF
QFSJPET
TQFDJGJFE
JO
4FDVSJUJFT
BOE
&YDIBOHF
$PNNJTTJPO
SVMFT
BOE
GPSNT
BOE
UIBU
TVDI
JOGPSNBUJPO
JT
BDDVNVMBUFE BOE
DPNNVOJDBUFE
UP
PVS
NBOBHFNFOU
JODMVEJOH
PVS
1SJODJQBM
&YFDVUJWF
0GGJDFS
BOE
1SJODJQBM
'JOBODJBM
0GGJDFS
BT
BQQSPQSJBUF UP
BMMPX
UJNFMZ
EFDJTJPOT
SFHBSEJOH
SFRVJSFE
EJTDMPTVSF
8F
CFMJFWF
UIBU
UIF
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
JODMVEFE
JO
UIJT
3FQPSU
GBJSMZ
QSFTFOU
JO
BMM
NBUFSJBM
SFTQFDUT
PVS DPOTPMJEBUFE
GJOBODJBM
QPTJUJPO
BOE
SFTVMUT
PG
PQFSBUJPOT
BT
PG
BOE
GPS
UIF
ZFBS
FOEFE
%FDFNCFS


C $IBOHFT
JO
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH

"T
PG
%FDFNCFS


PVS
NBOBHFNFOU
XJUI
UIF
QBSUJDJQBUJPO
PG
PVS
1SJODJQBM
&YFDVUJWF
0GGJDFS
BOE
1SJODJQBM
'JOBODJBM 0GGJDFS
FWBMVBUFE
PVS
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
#BTFE
PO
UIBU
FWBMVBUJPO
PVS
1SJODJQBM
&YFDVUJWF
0GGJDFS
BOE 1SJODJQBM
'JOBODJBM
0GGJDFS
DPODMVEFE
UIBU
OP
DIBOHFT
JO
PVS
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
PDDVSSFE
EVSJOH
UIF
RVBSUFS FOEFE
%FDFNCFS


UIBU
IBWF
NBUFSJBMMZ
BGGFDUFE
PS
BSF
SFBTPOBCMZ
MJLFMZ
UP
NBUFSJBMMZ
BGGFDU
PVS
JOUFSOBM
DPOUSPM
PWFS GJOBODJBM
SFQPSUJOH

.BOBHFNFOUT
"OOVBM
3FQPSU
PO
*OUFSOBM
$POUSPM
PWFS
'JOBODJBM
3FQPSUJOH

.BOBHFNFOU
PG
UIF
$PNQBOZ
JODMVEJOH
PVS
1SJODJQBM
&YFDVUJWF
0GGJDFS
BOE
1SJODJQBM
'JOBODJBM
0GGJDFS
JT
SFTQPOTJCMF
GPS FTUBCMJTIJOH
BOE
NBJOUBJOJOH
BEFRVBUF
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
BT
EFGJOFE
JO
3VMFT
B G
BOE
E G
PG
UIF 4FDVSJUJFT
&YDIBOHF
"DU
PG

BT
BNFOEFE
5IF
$PNQBOZT
JOUFSOBM
DPOUSPMT
XFSF
EFTJHOFE
UP
QSPWJEF
SFBTPOBCMF
BTTVSBODF BT
UP
UIF
SFMJBCJMJUZ
PG
PVS
GJOBODJBM
SFQPSUJOH
BOE
UIF
QSFQBSBUJPO
BOE
QSFTFOUBUJPO
PG
UIF
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT
GPS FYUFSOBM
QVSQPTFT
JO
BDDPSEBODF
XJUI
BDDPVOUJOH
QSJODJQMFT
HFOFSBMMZ
BDDFQUFE
JO
UIF
6OJUFE
4UBUFT
BOE
JODMVEFT
UIPTF
QPMJDJFT BOE
QSPDFEVSFT
UIBU

QFSUBJO
UP
UIF
NBJOUFOBODF
PG
SFDPSET
UIBU
JO
SFBTPOBCMF
EFUBJM
BDDVSBUFMZ
BOE
GBJSMZ
SFGMFDU
UIF
USBOTBDUJPOT BOE
EJTQPTJUJPOT
PG
UIF
BTTFUT
PG
UIF
$PNQBOZ

QSPWJEF
SFBTPOBCMF
BTTVSBODF
UIBU
USBOTBDUJPOT
BSF
SFDPSEFE
BT
OFDFTTBSZ
UP QFSNJU
QSFQBSBUJPO
PG
GJOBODJBM
TUBUFNFOUT
JO
BDDPSEBODF
XJUI
HFOFSBMMZ
BDDFQUFE
BDDPVOUJOH
QSJODJQMFT
BOE
UIBU
SFDFJQUT
BOE FYQFOEJUVSFT
PG
UIF
$PNQBOZ
BSF
CFJOH
NBEF
POMZ
JO
BDDPSEBODF
XJUI
BVUIPSJ[BUJPOT
PG
NBOBHFNFOU
BOE
EJSFDUPST
PG
UIF
$PNQBOZ BOE

QSPWJEF
SFBTPOBCMF
BTTVSBODF
SFHBSEJOH
QSFWFOUJPO
PS
UJNFMZ
EFUFDUJPO
PG
VOBVUIPSJ[FE
BDRVJTJUJPO
VTF
PS
EJTQPTJUJPO
PG UIF
$PNQBOZT
BTTFUT
UIBU
DPVME
IBWF
B
NBUFSJBM
FGGFDU
PO
UIF
GJOBODJBM
TUBUFNFOUT
5IF
$PNQBOZ
DPOEVDUFE
BO
FWBMVBUJPO
PG
UIF
FGGFDUJWFOFTT
PG
JUT
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
CBTFE
PO
UIF
DSJUFSJB JO
*OUFSOBM
$POUSPM

*OUFHSBUFE
'SBNFXPSL
JTTVFE
JO

CZ
UIF
$PNNJUUFF
PG
4QPOTPSJOH
0SHBOJ[BUJPOT
PG
UIF
5SFBEXBZ $PNNJTTJPO
5IJT
FWBMVBUJPO
JODMVEFE
SFWJFX
PG
UIF
EPDVNFOUBUJPO
PG
DPOUSPMT
FWBMVBUJPO
PG
UIF
EFTJHO
FGGFDUJWFOFTT
PG
DPOUSPMT UFTUJOH
PG
UIF
PQFSBUJOH
FGGFDUJWFOFTT
PG
DPOUSPMT
BOE
B
DPODMVTJPO
PO
UIJT
FWBMVBUJPO
5ISPVHI
UIJT
FWBMVBUJPO
NBOBHFNFOU
EJE OPU
JEFOUJGZ
BOZ
NBUFSJBM
XFBLOFTT
JO
UIF
$PNQBOZT
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
5IFSF
BSF
JOIFSFOU
MJNJUBUJPOT
JO UIF
FGGFDUJWFOFTT
PG
BOZ
TZTUFN
PG
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
IPXFWFS
CBTFE
PO
UIF
FWBMVBUJPO
NBOBHFNFOU
IBT DPODMVEFE
UIF
$PNQBOZT
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
XBT
FGGFDUJWF
BT
PG
%FDFNCFS


5IF
$PNQBOZgT
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
BT
PG
%FDFNCFS


IBT
CFFO
BVEJUFE
CZ
$SPXF
--1
BO JOEFQFOEFOU
SFHJTUFSFE
QVCMJD
BDDPVOUJOH
GJSN
BT
TUBUFE
JO
UIFJS
SFQPSU
XIJDI
BQQFBST
IFSFJO

 *UFN
#
0UIFS
*OGPSNBUJPO
/PU
BQQMJDBCMF

1"35
***

*UFN

%JSFDUPST
&YFDVUJWF
0GGJDFST
BOE
$PSQPSBUF
(PWFSOBODF
5IF
JOGPSNBUJPO
SFRVJSFE
CZ
UIJT
JUFN
JT
JODPSQPSBUFE
CZ
SFGFSFODF
GSPN
UIF
BQQMJDBCMF
JOGPSNBUJPO
TFU
GPSUI
JO
&YFDVUJWF 0GGJDFST 
&MFDUJPO
PG
%JSFDUPST 
*OGPSNBUJPO
BCPVU
UIF
#PBSE
PG
%JSFDUPST
BOE
JUT
$PNNJUUFFT 
BOE
4FDVSJUZ
0XOFSTIJQ
PG %JSFDUPST
BOE
&YFDVUJWF
0GGJDFST

4FDUJPO
 B
#FOFGJDJBM
0XOFSTIJQ
3FQPSUJOH
3FRVJSFNFOUT
XIJDI
XJMM
CF
JODMVEFE
JO
PVS EFGJOJUJWF
1SPYZ
4UBUFNFOU
GPS
PVS

"OOVBM
.FFUJOH
PG
4UPDLIPMEFST
UP
CF
GJMFE
XJUI
UIF
4&$
BOE
1BSU
*
*UFN

#VTJOFTT
 "EEJUJPOBM
*OGPSNBUJPO
JO
UIJT
3FQPSU
*UFN

&YFDVUJWF
$PNQFOTBUJPO
5IF
JOGPSNBUJPO
SFRVJSFE
CZ
UIJT
JUFN
JT
JODPSQPSBUFE
CZ
SFGFSFODF
GSPN
UIF
BQQMJDBCMF
JOGPSNBUJPO
TFU
GPSUI
JO
$PNQFOTBUJPO PG
&YFDVUJWF
0GGJDFST
$PNQFOTBUJPO
PG
%JSFDUPST
BOE

1BZ
3BUJP
XIJDI
XJMM
CF
JODMVEFE
JO
PVS
EFGJOJUJWF
1SPYZ
4UBUFNFOU GPS
PVS

"OOVBM
.FFUJOH
PG
4UPDLIPMEFST
UP
CF
GJMFE
XJUI
UIF
4&$
*UFN

4FDVSJUZ
0XOFSTIJQ
PG
$FSUBJO
#FOFGJDJBM
0XOFST
BOE
.BOBHFNFOU
BOE
3FMBUFE
4UPDLIPMEFS
.BUUFST
5IF
JOGPSNBUJPO
SFRVJSFE
CZ
UIJT
JUFN
JT
JODPSQPSBUFE
CZ
SFGFSFODF
GSPN
UIF
BQQMJDBCMF
JOGPSNBUJPO
TFU
GPSUI
JO
4FDVSJUZ 0XOFSTIJQ
PG
1SJODJQBM
4UPDLIPMEFST
BOE
.BOBHFNFOU
BOE
&RVJUZ
$PNQFOTBUJPO
1MBO
*OGPSNBUJPO
XIJDI
XJMM
CF
JODMVEFE
JO PVS
EFGJOJUJWF
1SPYZ
4UBUFNFOU
GPS
PVS

"OOVBM
.FFUJOH
PG
4UPDLIPMEFST
UP
CF
GJMFE
XJUI
UIF
4&$

*UFN

$FSUBJO
3FMBUJPOTIJQT
BOE
3FMBUFE
5SBOTBDUJPOT
BOE
%JSFDUPS
*OEFQFOEFODF
5IF
JOGPSNBUJPO
SFRVJSFE
CZ
UIJT
JUFN
JT
JODPSQPSBUFE
CZ
SFGFSFODF
GSPN
UIF
BQQMJDBCMF
JOGPSNBUJPO
TFU
GPSUI
JO
0UIFS *OGPSNBUJPO

3FMBUFE
1FSTPO
5SBOTBDUJPOT
BOE
*OGPSNBUJPO
BCPVU
UIF
#PBSE
PG
%JSFDUPST
BOE
JUT
$PNNJUUFFT
XIJDI
XJMM
CF JODMVEFE
JO
PVS
EFGJOJUJWF
1SPYZ
4UBUFNFOU
GPS
PVS

"OOVBM
.FFUJOH
PG
4UPDLIPMEFST
UP
CF
GJMFE
XJUI
UIF
4&$
*UFN

1SJODJQBM
"DDPVOUJOH
'FFT
BOE
4FSWJDFT
5IF
JOGPSNBUJPO
SFRVJSFE
CZ
UIJT
JUFN
JT
JODPSQPSBUFE
CZ
SFGFSFODF
GSPN
UIF
BQQMJDBCMF
JOGPSNBUJPO
TFU
GPSUI
JO
0UIFS *OGPSNBUJPO

(MPCBMTUBST
*OEFQFOEFOU
3FHJTUFSFE
"DDPVOUJOH
'JSN
XIJDI
XJMM
CF
JODMVEFE
JO
PVS
EFGJOJUJWF
1SPYZ
4UBUFNFOU
GPS PVS

"OOVBM
.FFUJOH
PG
4UPDLIPMEFST
UP
CF
GJMFE
XJUI
UIF
4&$

 1"35
*7

*UFN

&YIJCJUT
'JOBODJBM
4UBUFNFOU
4DIFEVMFT

B 5IF
GPMMPXJOH
EPDVNFOUT
BSF
GJMFE
BT
QBSU
PG
UIJT
3FQPSU

 'JOBODJBM
4UBUFNFOUT
BOE
3FQPSU
PG
*OEFQFOEFOU
3FHJTUFSFE
1VCMJD
"DDPVOUJOH
'JSN

3FQPSU
PG
*OEFQFOEFOU
3FHJTUFSFE
1VCMJD
"DDPVOUJOH
'JSN $POTPMJEBUFE
CBMBODF
TIFFUT
BU
%FDFNCFS


BOE
 $POTPMJEBUFE
TUBUFNFOUT
PG
PQFSBUJPOT
GPS
UIF
ZFBST
FOEFE
%FDFNCFS



BOE
 $POTPMJEBUFE
TUBUFNFOUT
PG
DPNQSFIFOTJWF
JODPNF
MPTT
GPS
UIF
ZFBST
FOEFE
%FDFNCFS



BOE
 $POTPMJEBUFE
TUBUFNFOUT
PG
TUPDLIPMEFSTg
FRVJUZ
GPS
UIF
ZFBST
FOEFE
%FDFNCFS



BOE
 $POTPMJEBUFE
TUBUFNFOUT
PG
DBTI
GMPXT
GPS
UIF
ZFBST
FOEFE
%FDFNCFS



BOE
 /PUFT
UP
$POTPMJEBUFE
'JOBODJBM
4UBUFNFOUT

 'JOBODJBM
4UBUFNFOU
4DIFEVMFT

"MM
TDIFEVMFT
BSF
PNJUUFE
CFDBVTF
UIFZ
BSF
OPU
BQQMJDBCMF
PS
UIF
SFRVJSFE
JOGPSNBUJPO
JT
JO
UIF
GJOBODJBM
TUBUFNFOUT
PS OPUFT
UIFSFUP

 &YIJCJUT

4FF
&YIJCJU
*OEFY

 Item 16. Form 10-K Summary None. SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. GLOBALSTAR, INC.

By: /s/ David B. Kagan Date: February 28, 2020 David B. Kagan Chief Executive Officer

POWER OF ATTORNEY KNOW BY ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints David B. Kagan and Rebecca S. Clary, jointly and severally, his or her attorney-in-fact, with the power of substitution, for him or her in any and all capacities, to sign any amendments to this Annual Report on Form 10-K and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that each of said attorneys-in-fact, or his or her substitute or substitutes, may do or cause to be done by virtue hereof. Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated as of February 28, 2020.

Signature Title /s/ David B. Kagan Chief Executive Officer David B. Kagan (Principal Executive Officer)

/s/ Rebecca S. Clary Chief Financial Officer Rebecca S. Clary (Principal Financial and Accounting Officer)

/s/ James Monroe III James Monroe III Director

/s/ William A. Hasler William A. Hasler Director

/s/ James F. Lynch James F. Lynch Director

/s/ Michael J. Lovett Michael J. Lovett Director

/s/ Keith O. Cowan Keith O. Cowan Director

/s/ Benjamin G. Wolff Benjamin G. Wolff Director

/s/ Timothy E. Taylor Timothy E. Taylor Director

 [This page intentionally left blank] &9)*#*5
*/%&9
&YIJCJU
/VNCFS %FTDSJQUJPO  "HSFFNFOU
BOE
1MBO
PG
.FSHFS
EBUFE
BT
PG
"QSJM


CZ
BOE
BNPOH
(MPCBMTUBS
*OD
(#4
"DRVJTJUJPOT
*OD 5IFSNP
"DRVJTJUJPOT
*OD
4UPDLIPMEFST
PG
5IFSNP
"DRVJTJUJPOT
*OD
BOE
5IFSNP
%FWFMPQNFOU
*OD
&YIJCJU 
UP
'PSN
,
GJMFE
"QSJM

  $PSSFDUFE
4FDPOE
"NFOEFE
BOE
3FTUBUFE
$FSUJGJDBUF
PG
*ODPSQPSBUJPO
PG
(MPCBMTUBS
*OD
&YIJCJU

UP
'PSN
, GJMFE
+VOF

  'PVSUI
"NFOEFE
BOE
3FTUBUFE
#ZMBXT
PG
(MPCBMTUBS
*OD
&YIJCJU

UP
'PSN
,
GJMFE
PO
"QSJM

  *OEFOUVSF
CFUXFFO
(MPCBMTUBS
*OD
BOE
64
#BOL
/BUJPOBM
"TTPDJBUJPO
BT
5SVTUFF
EBUFE
BT
PG
"QSJM

 &YIJCJU

UP
'PSN
,
GJMFE
"QSJM

  'PVSUI
4VQQMFNFOUBM
*OEFOUVSF
CFUXFFO
(MPCBMTUBS
*OD
BOE
64
#BOL
/BUJPOBM
"TTPDJBUJPO
BT
5SVTUFF
EBUFE
BT PG
.BZ


JODMVEJOH
'PSN
PG
(MPCBM

$POWFSUJCMF
4FOJPS
/PUF
EVF

&YIJCJU

UP
'PSN
,
GJMFE .BZ

  %FTDSJQUJPO
PG
3FHJTUSBOUT
4FDVSJUJFT
3FHJTUFSFE
1VSTVBOU
UP
4FDUJPO

PG
UIF
4FDVSJUJFT
&YDIBOHF
"DU
PG
  l $POUSBDU
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
.BZ


&YIJCJU

UP
'PSN 2
GJMFE
"VHVTU

  "NFOENFOU
/P
UP
$POUSBDU
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
FGGFDUJWF
BT
PG
"VHVTU 

"NFOENFOU
/P

4VQFSTFEFE
&YIJCJU

UP
'PSN
2
GJMFE
/PWFNCFS

  "NFOENFOU
/P
UP
$POUSBDU
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
FGGFDUJWF
BT
PG 4FQUFNCFS


&YIJCJU

UP
'PSN
2
GJMFE
/PWFNCFS

  l "NFOENFOU
/P
UP
$POUSBDU
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
BT
PG
.BSDI
 
&YIJCJU

UP
'PSN
2
GJMFE
.BZ

 
l "NFOENFOU
/P
UP
$POUSBDU
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
BT
PG
"QSJM
 
&YIJCJU

UP
'PSN
,
GJMFE
.BSDI

 
l "NFOENFOU
/P
UP
$POUSBDU
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
BT
PG
/PWFNCFS 

&YIJCJU

UP
'PSN
,"
GJMFE
+VOF

 
l "NFOENFOU
/P

UP
$POUSBDU
CFUXFFO
(MPCBMTUBS
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
BT
PG
'FCSVBSZ
 
&YIJCJU

UP
'PSN
2
GJMFE
.BZ

  l -FUUFS
"HSFFNFOU
EBUFE
.BSDI


CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
&YIJCJU 
UP
'PSN
2
GJMFE
.BZ

  l -FUUFS
"HSFFNFOU
EBUFE
+VOF


CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
&YIJCJU
 UP
'PSN
2
GJMFE
"VHVTU

  l -FUUFS
"HSFFNFOU
CZ
BOE
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
4FQUFNCFS

 &YIJCJU

UP
'PSN
2
GJMFE
/PWFNCFS

  l -FUUFS
"HSFFNFOU
CZ
BOE
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
%FDFNCFS

 &YIJCJU

UP
'PSN
,
GJMFE
.BSDI

  l "NFOENFOU
/P

UP
$POUSBDU
CFUXFFO
(MPCBMTUBS
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
BT
PG
+BOVBSZ
 
&YIJCJU

UP
'PSN
2
GJMFE
.BZ

  l -FUUFS
"HSFFNFOU
CZ
BOE
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
.BSDI

 &YIJCJU

UP
'PSN
2
GJMFE
.BZ

  l -FUUFS
"HSFFNFOU
CZ
BOE
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
+VOF

 &YIJCJU

UP
'PSN
2
GJMFE
"VHVTU

  -FUUFS
"HSFFNFOU
CZ
BOE
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
"VHVTU

 &YIJCJU

UP
'PSN
2
GJMFE
/PWFNCFS

  l "NFOENFOU
/P

UP
$POUSBDU
CFUXFFO
(MPCBMTUBS
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
BT
PG
"VHVTU
 
&YIJCJU

UP
'PSN
2
GJMFE
/PWFNCFS

  "NFOENFOU
/P

UP
$POUSBDU
CFUXFFO
(MPCBMTUBS
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
BT
PG
%FDFNCFS
 
&YIJCJU

UP
'PSN
,
GJMFE
.BSDI



  l -FUUFS
"HSFFNFOU
CZ
BOE
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
BT
PG
.BZ

 &YIJCJU

UP
'PSN
2
GJMFE
"VHVTU

  -FUUFS
"HSFFNFOU
SFHBSEJOH
FRVJUZ
QBZNFOU
CZ
BOE
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$ EBUFE
BT
PG
.BZ


&YIJCJU

UP
'PSN
2
GJMFE
"VHVTU

  l "NFOENFOU
/P
UP
$POUSBDU
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
BT
PG
0DUPCFS 

&YIJCJU

UP
'PSN
2
GJMFE
/PWFNCFS

  l "NFOENFOU
/P
UP
$POUSBDU
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
BT
PG
+VMZ
 
&YIJCJU

UP
'PSN
2
GJMFE
"VHVTU

 l "NFOENFOU
/P
UP
$POUSBDU
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
BT
PG %FDFNCFS


&YIJCJU

UP
'PSN
,
GJMFE
'FCSVBSZ

  "NFOENFOU
UP
-FUUFS
"HSFFNFOU
SFHBSEJOH
FRVJUZ
QBZNFOU
CZ
BOE
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL 4ZTUFNT
--$
EBUFE
BT
PG
%FDFNCFS


&YIJCJU

UP
'PSN
,
GJMFE
'FCSVBSZ

  "NFOENFOU
UP
-FUUFS
"HSFFNFOU
SFHBSEJOH
FRVJUZ
QBZNFOU
CZ
BOE
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL 4ZTUFNT
--$
EBUFE
BT
PG
.BSDI


&YIJCJU

UP
'PSN
2
GJMFE
.BZ

  "NFOENFOU
UP
-FUUFS
"HSFFNFOU
SFHBSEJOH
FRVJUZ
QBZNFOU
CZ
BOE
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL 4ZTUFNT
--$
EBUFE
BT
PG
+VOF

&YIJCJU

UP
'PSN
2
GJMFE
"VHVTU

  "NFOENFOU
UP
-FUUFS
"HSFFNFOU
SFHBSEJOH
FRVJUZ
QBZNFOU
CZ
BOE
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL 4ZTUFNT
--$
EBUFE
BT
PG
4FQUFNCFS


&YIJCJU

UP
'PSN
2
GJMFE
/PWFNCFS

  "NFOENFOU
UP
-FUUFS
"HSFFNFOU
SFHBSEJOH
FRVJUZ
QBZNFOU
CZ
BOE
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL 4ZTUFNT
--$
EBUFE
BT
PG
%FDFNCFS


&YIJCJU

UP
'PSN
,
GJMFE
'FCSVBSZ

  l "NFOENFOU

UP
$POUSBDU
CFUXFFO
(MPCBMTUBS
*OD
BOE
)VHIFT
/FUXPSL
4ZTUFNT
--$
EBUFE
BT
PG
+VOF
 
&YIJCJU

UP
'PSN
2
GJMFE
"VHVTU

  "NFOEFE
BOE
3FTUBUFE
-PBO
"HSFFNFOU
CFUXFFO
(MPCBMTUBS
*OD
BOE
5IFSNP
'VOEJOH
$PNQBOZ
--$
EBUFE
BT PG
+VMZ


&YIJCJU

UP
'PSN
,
GJMFE
"VHVTU

  $PNNPO
4UPDL
1VSDIBTF
"HSFFNFOU
EBUFE
BT
PG
+VOF


CFUXFFO
(MPCBMTUBS
*OD
BOE
5IFSNP
'VOEJOH
** --$
&YIJCJU

UP
$VSSFOU
3FQPSU
PO
'PSN
,
GJMFE
+VMZ

  7PUJOH
"HSFFNFOU
EBUFE
BT
PG
"QSJM


&YIJCJU

UP
'PSN
,
GJMFE
PO
"QSJM

  5FSNJOBUJPO
PG
"HSFFNFOU
BOE
1MBO
PG
.FSHFS
EBUFE
BT
PG
+VMZ


&YIJCJU

UP
'PSN
,
GJMFE
PO "VHVTU

  4FUUMFNFOU
"HSFFNFOU
EBUFE
%FDFNCFS


&YIJCJU

UP
GPSN
,
GJMFE
%FDFNCFS

  -FBTF
"HSFFNFOU
CZ
BOE
CFUXFFO
(MPCBMTUBS
*OD
BOE
5IFSNP
$PWJOHUPO
--$
EBUFE
'FCSVBSZ



&YIJCU 
UP
'PSN
2
GJMFE
.BZ

  'PSN
PG
*OEFNOJGJDBUJPO
"HSFFNFOU
CFUXFFO
(MPCBMTUBS
*OD
BOE
JUT
%JSFDUPST
EBUFE
'FCSVBSZ


&YIJCJU 
UP
'PSN
,
GJMFE
'FCSVBSZ

  4VCPSEJOBUFE
-PBO
"HSFFNFOU
%BUFE
BT
PG
+VMZ


CZ
BOE
BNPOH
(MPCBMTUBS
*OD
BOE
0UIFS
-FOEFST &YIJCJU

UP
'PSN
2
GJMFE
"VHVTU

  'PVSUI
(MPCBM
"NFOENFOU
BOE
3FTUBUFNFOU
"HSFFNFOU
EBUFE
BT
PG
/PWFNCFS


CFUXFFO
(MPCBMTUBS
*OD 5IFSNP
'VOEJOH
$PNQBOZ
--$
#/1
1BSJCBT
BOE
UIF
PUIFS
MFOEFST
UIFSFUP  'PVSUI
"NFOEFE
BOE
3FTUBUFE
'BDJMJUZ
"HSFFNFOU
EBUFE
BT
PG
/PWFNCFS


CFUXFFO
(MPCBMTUBS
*OD
#/1 1BSJCBT
BOE
UIF
PUIFS
MFOEFST
QBSUZ
UIFSFUP  4FDPOE
-JFO
'BDJMJUZ
"HSFFNFOU
EBUFE
BT
PG
/PWFNCFS


CFUXFFO
(MPCBMTUBS
*OD
(MPCBM
-PBO
"HFODZ 4FSWJDFT
-JNJUFE
(-"4
5SVTU
$PSQPSBUJPO
-JNJUFE
BOE
PUIFS
MFOEFST
UIFSFUP  'PSN
PG
$PNNPO
4UPDL
1VSDIBTF
8BSSBOU
EBUFE
/PWFNCFS


CFUXFFO
(MPCBMTUBS
*OD
BOE
PUIFS
MFOEFST UIFSFUP  3FHJTUSBUJPO
3JHIUT
"HSFFNFOU
EBUFE
/PWFNCFS


CFUXFFO
(MPCBMTUBS
*OD
BOE
PUIFS
MFOEFST
UIFSFUP  *OUFSDSFEJUPS
"HSFFNFOU
EBUFE
/PWFNCFS


CFUXFFO
#/1
1BSJCBT
(MPCBM
-PBO
"HFODZ
4FSWJDFT
-JNJUFE 5IF
4FOJPS
-FOEFST
5IF
4FDPOE
-JFO
-FOEFST
(MPCBMTUBS
*OD
#/1
1BSJCBT
(-"4
5SVTU
$PSQPSBUJPO
-JNJUFE BOE
PUIFS
MFOEFST
UIFSFUP

 &YFDVUJWF
$PNQFOTBUJPO
1MBOT
BOE
"HSFFNFOUT  5IJSE
"NFOEFE
BOE
3FTUBUFE
(MPCBMTUBS
*OD

&RVJUZ
*ODFOUJWF
1MBO
"QQFOEJY
"
UP
%FGJOJUJWF
1SPYZ 4UBUFNFOU
GJMFE
"QSJM

  "NFOEFE
BOE
3FTUBUFE
&NQMPZFF
4UPDL
1VSDIBTF
1MBO
"QQFOEJY
#
UP
%FGJOJUJWF
1SPYZ
4UBUFNFOU
GJMFE
"QSJM
   'PSN
PG
3FTUSJDUFE
4UPDL
6OJUT
"HSFFNFOU
GPS
/PO64
%FTJHOBUFE
&YFDVUJWFT
VOEFS
UIF
(MPCBMTUBS
*OD
 &RVJUZ
*ODFOUJWF
1MBO
&YIJCJU

UP
'PSN
2
GJMFE
"VHVTU

  'PSN
PG
/PUJDF
PG
(SBOU
BOE
3FTUSJDUFE
4UPDL
"HSFFNFOU
VOEFS
UIF
(MPCBMTUBS
*OD

&RVJUZ
*ODFOUJWF
1MBO &YIJCJU

UP
'PSN
,
GJMFE
.BSDI

  'PSN
PG
/PO2VBMJGJFE
4UPDL
0QUJPO
"XBSE
"HSFFNFOU
GPS
.FNCFST
PG
UIF
#PBSE
PG
%JSFDUPST
VOEFS
UIF (MPCBMTUBS
*OD

&RVJUZ
*ODFOUJWF
1MBO
&YIJCJU

UP
'PSN
,
GJMFE
/PWFNCFS

  'PSN
PG
4UPDL
0QUJPO
"XBSE
"HSFFNFOU
GPS
VTF
XJUI
FYFDVUJWF
PGGJDFST
&YIJCJU

UP
'PSN
,
GJMFE
.BSDI 
  l 
,FZ
&NQMPZFF
$BTI
#POVT
1MBO
&YIJCJU

UP
'PSN
,
GJMFE
'FCSVBSZ

  l 
,FZ
&NQMPZFF
$BTI
#POVT
1MBO
&YIJCJU

UP
'PSN
,
GJMFE
'FCSVBSZ



 l 
,FZ
&NQMPZFF
$BTI
#POVT
1MBO
&YIJCJU

UP
'PSN
,
GJMFE
'FCSVBSZ



l 
,FZ
&NQMPZFF
$BTI
#POVT
1MBO

 -FUUFS
"HSFFNFOU
XJUI
%BWJE
,BHBO
EBUFE
/PWFNCFS


&YIJCJU

UP
'PSN
,
GJMFE
'FCSVBSZ
  -FUUFS
"HSFFNFOU
XJUI
%BWJE
,BHBO
EBUFE
4FQUFNCFS


&YIJCJU

UP
'PSN
,
GJMFE
'FCSVBSZ
  

 4VCTJEJBSJFT
PG
(MPCBMTUBS
*OD  $POTFOU
PG
$SPXF
--1  1PXFS
PG
"UUPSOFZ
JODMVEFE
BT
QBSU
PG
QBHF
UJUMFE
4JHOBUVSFT  4FDUJPO

$FSUJGJDBUJPO
PG
1SJODJQBM
&YFDVUJWF
0GGJDFS
PG
(MPCBMTUBS
*OD  4FDUJPO

$FSUJGJDBUJPO
PG
1SJODJQBM
'JOBODJBM
0GGJDFS
PG
(MPCBMTUBS
*OD  4FDUJPO

$FSUJGJDBUJPO
PG
1SJODJQBM
&YFDVUJWF
0GGJDFS
PG
(MPCBMTUBS
*OD  4FDUJPO

$FSUJGJDBUJPO
PG
1SJODJQBM
'JOBODJBM
0GGJDFS
PG
(MPCBMTUBS
*OD */4 9#3-
*OTUBODF
%PDVNFOU 4$) 9#3-
5BYPOPNZ
&YUFOTJPO
4DIFNB
%PDVNFOU $"- 9#3-
5BYPOPNZ
&YUFOTJPO
$BMDVMBUJPO
-JOLCBTF
%PDVNFOU %&' 9#3-
5BYPOPNZ
&YUFOTJPO
%FGJOJUJPO
-JOLCBTF
%PDVNFOU 13& 9#3-
5BYPOPNZ
&YUFOTJPO
1SFTFOUBUJPO
-JOLCBTF
%PDVNFOU -"# 9#3-
5BYPOPNZ
&YUFOTJPO
-BCFM
-JOLCBTF
%PDVNFOU *ODPSQPSBUFE
CZ
SFGFSFODF 1PSUJPOT
PG
UIF
FYIJCJU
IBWF
CFFO
PNJUUFE
QVSTVBOU
UP
B
SFRVFTU
GPS
DPOGJEFOUJBM
USFBUNFOU
GJMFE
XJUI
UIF l $PNNJTTJPO
5IF
PNJUUFE
QPSUJPOT
IBWF
CFFO
GJMFE
XJUI
UIF
$PNNJTTJPO

 &YIJCJU


$FSUJGJDBUJPO
PG
1SJODJQBM
&YFDVUJWF
0GGJDFS
PG
(MPCBMTUBS
*OD 1VSTVBOU
UP
3VMF
B B
BOE
3VMF
E B
PG
UIF
4FDVSJUJFT
&YDIBOHF
"DU
PG

BT
BNFOEFE

*
%BWJE
#
,BHBO
DFSUJGZ
UIBU

 *
IBWF
SFWJFXFE
UIJT
BOOVBM
SFQPSU
PO
'PSN
,
PG
(MPCBMTUBS
*OD

 #BTFE
PO
NZ
LOPXMFEHF
UIJT
SFQPSU
EPFT
OPU
DPOUBJO
BOZ
VOUSVF
TUBUFNFOU
PG
B
NBUFSJBM
GBDU
PS
PNJU
UP
TUBUF
B
NBUFSJBM GBDU
OFDFTTBSZ
UP
NBLF
UIF
TUBUFNFOUT
NBEF
JO
MJHIU
PG
UIF
DJSDVNTUBODFT
VOEFS
XIJDI
TVDI
TUBUFNFOUT
XFSF
NBEF
OPU NJTMFBEJOH
XJUI
SFTQFDU
UP
UIF
QFSJPE
DPWFSFE
CZ
UIJT
SFQPSU

 #BTFE
PO
NZ
LOPXMFEHF
UIF
GJOBODJBM
TUBUFNFOUT
BOE
PUIFS
GJOBODJBM
JOGPSNBUJPO
JODMVEFE
JO
UIJT
SFQPSU
GBJSMZ
QSFTFOU JO
BMM
NBUFSJBM
SFTQFDUT
UIF
GJOBODJBM
DPOEJUJPO
SFTVMUT
PG
PQFSBUJPOT
BOE
DBTI
GMPXT
PG
UIF
SFHJTUSBOU
BT
PG
BOE
GPS
UIF QFSJPET
QSFTFOUFE
JO
UIJT
SFQPSU

 *
BN
SFTQPOTJCMF
GPS
FTUBCMJTIJOH
BOE
NBJOUBJOJOH
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT
BT
EFGJOFE
JO
&YDIBOHF
"DU 3VMFT
B F
BOE
 E  F
BOE
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
BT
EFGJOFE
JO
&YDIBOHF
"DU
3VMF
B G BOE
E G
GPS
UIF
SFHJTUSBOU
BOE
IBWF

B %FTJHOFE
TVDI
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT
PS
DBVTFE
TVDI
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT
UP
CF
EFTJHOFE VOEFS
NZ
TVQFSWJTJPO
UP
FOTVSF
UIBU
NBUFSJBM
JOGPSNBUJPO
SFMBUJOH
UP
UIF
SFHJTUSBOU
JODMVEJOH
JUT
DPOTPMJEBUFE TVCTJEJBSJFT
JT
NBEF
LOPXO
UP
NF
CZ
PUIFST
XJUIJO
UIPTF
FOUJUJFT
QBSUJDVMBSMZ
EVSJOH
UIF
QFSJPE
JO
XIJDI
UIJT
SFQPSU JT
CFJOH
QSFQBSFE

C %FTJHOFE
TVDI
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
PS
DBVTFE
TVDI
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
UP CF
EFTJHOFE
VOEFS
NZ
TVQFSWJTJPO
UP
QSPWJEF
SFBTPOBCMF
BTTVSBODF
SFHBSEJOH
UIF
SFMJBCJMJUZ
PG
GJOBODJBM
SFQPSUJOH BOE
UIF
QSFQBSBUJPO
PG
GJOBODJBM
TUBUFNFOUT
GPS
FYUFSOBM
QVSQPTFT
JO
BDDPSEBODF
XJUI
HFOFSBMMZ
BDDFQUFE
BDDPVOUJOH QSJODJQMFT

D &WBMVBUFE
UIF
FGGFDUJWFOFTT
PG
UIF
SFHJTUSBOU`T
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT
BOE
QSFTFOUFE
JO
UIJT
SFQPSU
NZ DPODMVTJPO
BCPVU
UIF
FGGFDUJWFOFTT
PG
UIF
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT
BT
PG
UIF
FOE
PG
UIF
QFSJPE
DPWFSFE
CZ UIJT
SFQPSU
CBTFE
PO
TVDI
FWBMVBUJPO
BOE

E %JTDMPTFE
JO
UIJT
SFQPSU
BOZ
DIBOHF
JO
UIF
SFHJTUSBOU`T
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
UIBU
PDDVSSFE
EVSJOH UIF
SFHJTUSBOU`T
NPTU
SFDFOU
GJTDBM
RVBSUFS
UIF
SFHJTUSBOU`T
GPVSUI
GJTDBM
RVBSUFS
JO
UIF
DBTF
PG
BO
BOOVBM
SFQPSU
UIBU IBT
NBUFSJBMMZ
BGGFDUFE
PS
JT
SFBTPOBCMZ
MJLFMZ
UP
NBUFSJBMMZ
BGGFDU
UIF
SFHJTUSBOU`T
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM SFQPSUJOH
BOE

 *
IBWF
EJTDMPTFE
CBTFE
PO
NZ
NPTU
SFDFOU
FWBMVBUJPO
PG
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
UP
UIF
SFHJTUSBOU`T
BVEJUPST BOE
UIF
BVEJU
DPNNJUUFF
PG
UIF
SFHJTUSBOU`T
CPBSE
PG
EJSFDUPST
PS
QFSTPOT
QFSGPSNJOH
UIF
FRVJWBMFOU
GVODUJPOT 

B "MM
TJHOJGJDBOU
EFGJDJFODJFT
BOE
NBUFSJBM
XFBLOFTTFT
JO
UIF
EFTJHO
PS
PQFSBUJPO
PG
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM SFQPSUJOH
XIJDI
BSF
SFBTPOBCMZ
MJLFMZ
UP
BEWFSTFMZ
BGGFDU
UIF
SFHJTUSBOU`T
BCJMJUZ
UP
SFDPSE
QSPDFTT
TVNNBSJ[F
BOE SFQPSU
GJOBODJBM
JOGPSNBUJPO
BOE

C "OZ
GSBVE
XIFUIFS
PS
OPU
NBUFSJBM
UIBU
JOWPMWFT
NBOBHFNFOU
PS
PUIFS
FNQMPZFFT
XIP
IBWF
B
TJHOJGJDBOU
SPMF
JO
UIF SFHJTUSBOU`T
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH

%BUF 'FCSVBSZ



#Z T
%BWJE
#
,BHBO %BWJE
#
,BHBO $IJFG
&YFDVUJWF
0GGJDFS
1SJODJQBM
&YFDVUJWF
0GGJDFS &YIJCJU


$FSUJGJDBUJPO
PG
1SJODJQBM
'JOBODJBM
0GGJDFS
PG
(MPCBMTUBS
*OD 1VSTVBOU
UP
3VMF
B B
BOE
3VMF
E B
PG
UIF
4FDVSJUJFT
&YDIBOHF
"DU
PG

BT
BNFOEFE

*
3FCFDDB
4
$MBSZ
DFSUJGZ
UIBU

 *
IBWF
SFWJFXFE
UIJT
BOOVBM
SFQPSU
PO
'PSN
,
PG
(MPCBMTUBS
*OD

 #BTFE
PO
NZ
LOPXMFEHF
UIJT
SFQPSU
EPFT
OPU
DPOUBJO
BOZ
VOUSVF
TUBUFNFOU
PG
B
NBUFSJBM
GBDU
PS
PNJU
UP
TUBUF
B
NBUFSJBM GBDU
OFDFTTBSZ
UP
NBLF
UIF
TUBUFNFOUT
NBEF
JO
MJHIU
PG
UIF
DJSDVNTUBODFT
VOEFS
XIJDI
TVDI
TUBUFNFOUT
XFSF
NBEF
OPU NJTMFBEJOH
XJUI
SFTQFDU
UP
UIF
QFSJPE
DPWFSFE
CZ
UIJT
SFQPSU

 #BTFE
PO
NZ
LOPXMFEHF
UIF
GJOBODJBM
TUBUFNFOUT
BOE
PUIFS
GJOBODJBM
JOGPSNBUJPO
JODMVEFE
JO
UIJT
SFQPSU
GBJSMZ
QSFTFOU JO
BMM
NBUFSJBM
SFTQFDUT
UIF
GJOBODJBM
DPOEJUJPO
SFTVMUT
PG
PQFSBUJPOT
BOE
DBTI
GMPXT
PG
UIF
SFHJTUSBOU
BT
PG
BOE
GPS
UIF QFSJPET
QSFTFOUFE
JO
UIJT
SFQPSU

 *
BN
SFTQPOTJCMF
GPS
FTUBCMJTIJOH
BOE
NBJOUBJOJOH
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT
BT
EFGJOFE
JO
&YDIBOHF
"DU 3VMFT
B F
BOE
 E  F
BOE
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
BT
EFGJOFE
JO
&YDIBOHF
"DU
3VMF
B G BOE
E G
GPS
UIF
SFHJTUSBOU
BOE
IBWF

B %FTJHOFE
TVDI
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT
PS
DBVTFE
TVDI
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT
UP
CF
EFTJHOFE VOEFS
NZ
TVQFSWJTJPO
UP
FOTVSF
UIBU
NBUFSJBM
JOGPSNBUJPO
SFMBUJOH
UP
UIF
SFHJTUSBOU
JODMVEJOH
JUT
DPOTPMJEBUFE TVCTJEJBSJFT
JT
NBEF
LOPXO
UP
NF
CZ
PUIFST
XJUIJO
UIPTF
FOUJUJFT
QBSUJDVMBSMZ
EVSJOH
UIF
QFSJPE
JO
XIJDI
UIJT
SFQPSU JT
CFJOH
QSFQBSFE

C %FTJHOFE
TVDI
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
PS
DBVTFE
TVDI
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
UP CF
EFTJHOFE
VOEFS
NZ
TVQFSWJTJPO
UP
QSPWJEF
SFBTPOBCMF
BTTVSBODF
SFHBSEJOH
UIF
SFMJBCJMJUZ
PG
GJOBODJBM
SFQPSUJOH BOE
UIF
QSFQBSBUJPO
PG
GJOBODJBM
TUBUFNFOUT
GPS
FYUFSOBM
QVSQPTFT
JO
BDDPSEBODF
XJUI
HFOFSBMMZ
BDDFQUFE
BDDPVOUJOH QSJODJQMFT

D &WBMVBUFE
UIF
FGGFDUJWFOFTT
PG
UIF
SFHJTUSBOU`T
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT
BOE
QSFTFOUFE
JO
UIJT
SFQPSU
NZ DPODMVTJPO
BCPVU
UIF
FGGFDUJWFOFTT
PG
UIF
EJTDMPTVSF
DPOUSPMT
BOE
QSPDFEVSFT
BT
PG
UIF
FOE
PG
UIF
QFSJPE
DPWFSFE
CZ UIJT
SFQPSU
CBTFE
PO
TVDI
FWBMVBUJPO
BOE

E %JTDMPTFE
JO
UIJT
SFQPSU
BOZ
DIBOHF
JO
UIF
SFHJTUSBOU`T
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
UIBU
PDDVSSFE
EVSJOH UIF
SFHJTUSBOU`T
NPTU
SFDFOU
GJTDBM
RVBSUFS
UIF
SFHJTUSBOU`T
GPVSUI
GJTDBM
RVBSUFS
JO
UIF
DBTF
PG
BO
BOOVBM
SFQPSU
UIBU IBT
NBUFSJBMMZ
BGGFDUFE
PS
JT
SFBTPOBCMZ
MJLFMZ
UP
NBUFSJBMMZ
BGGFDU
UIF
SFHJTUSBOU`T
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM SFQPSUJOH
BOE

 *
IBWF
EJTDMPTFE
CBTFE
PO
NZ
NPTU
SFDFOU
FWBMVBUJPO
PG
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH
UP
UIF
SFHJTUSBOU`T
BVEJUPST BOE
UIF
BVEJU
DPNNJUUFF
PG
UIF
SFHJTUSBOU`T
CPBSE
PG
EJSFDUPST
PS
QFSTPOT
QFSGPSNJOH
UIF
FRVJWBMFOU
GVODUJPOT 

B "MM
TJHOJGJDBOU
EFGJDJFODJFT
BOE
NBUFSJBM
XFBLOFTTFT
JO
UIF
EFTJHO
PS
PQFSBUJPO
PG
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM SFQPSUJOH
XIJDI
BSF
SFBTPOBCMZ
MJLFMZ
UP
BEWFSTFMZ
BGGFDU
UIF
SFHJTUSBOU`T
BCJMJUZ
UP
SFDPSE
QSPDFTT
TVNNBSJ[F
BOE SFQPSU
GJOBODJBM
JOGPSNBUJPO
BOE

C "OZ
GSBVE
XIFUIFS
PS
OPU
NBUFSJBM
UIBU
JOWPMWFT
NBOBHFNFOU
PS
PUIFS
FNQMPZFFT
XIP
IBWF
B
TJHOJGJDBOU
SPMF
JO
UIF SFHJTUSBOU`T
JOUFSOBM
DPOUSPM
PWFS
GJOBODJBM
SFQPSUJOH

%BUF 'FCSVBSZ



#Z T
3FCFDDB
4
$MBSZ 3FCFDDB
4
$MBSZ $IJFG
'JOBODJBM
0GGJDFS
1SJODJQBM
'JOBODJBM
0GGJDFS &YIJCJU


$FSUJGJDBUJPO
PG
1SJODJQBM
&YFDVUJWF
0GGJDFS
6OEFS
4FDUJPO

PG
UIF
4BSCBOFT0YMFZ
"DU
PG


64$
4FDUJPO


1VSTVBOU
UP
TFDUJPO

PG
UIF
4BSCBOFT0YMFZ
"DU
PG

TVCTFDUJPOT
B
BOE
C
PG
4FDUJPO

$IBQUFS

PG
5JUMF 
6OJUFE
4UBUFT
$PEF
UIF
VOEFSTJHOFE
PGGJDFS
PG
(MPCBMTUBS
*OD
UIF
`$PNQBOZa
EPFT
IFSFCZ
DFSUJGZ
UIBU

5IJT
BOOVBM
SFQPSU
PO
'PSN
,
GPS
UIF
ZFBS
FOEFE
%FDFNCFS


PG
UIF
$PNQBOZ
GVMMZ
DPNQMJFT
XJUI
UIF
SFRVJSFNFOUT PG
TFDUJPO
 B
PS
 E
PG
UIF
4FDVSJUJFT
&YDIBOHF
"DU
PG

BOE
UIF
JOGPSNBUJPO
DPOUBJOFE
JO
UIF
'PSN
,
GBJSMZ
QSFTFOUT JO
BMM
NBUFSJBM
SFTQFDUT
UIF
GJOBODJBM
DPOEJUJPO
BOE
SFTVMUT
PG
PQFSBUJPOT
PG
UIF
$PNQBOZ

'FCSVBSZ

 #Z T
%BWJE
#
,BHBO %BWJE
#
,BHBO $IJFG
&YFDVUJWF
0GGJDFS
1SJODJQBM
&YFDVUJWF
0GGJDFS &YIJCJU


$FSUJGJDBUJPO
PG
1SJODJQBM
'JOBODJBM
0GGJDFS
6OEFS
4FDUJPO

PG
UIF
4BSCBOFT0YMFZ
"DU
PG


64$
4FDUJPO


1VSTVBOU
UP
TFDUJPO

PG
UIF
4BSCBOFT0YMFZ
"DU
PG

TVCTFDUJPOT
B
BOE
C
PG
4FDUJPO

$IBQUFS

PG
5JUMF 
6OJUFE
4UBUFT
$PEF
UIF
VOEFSTJHOFE
PGGJDFS
PG
(MPCBMTUBS
*OD
UIF
`$PNQBOZa
EPFT
IFSFCZ
DFSUJGZ
UIBU

5IJT
BOOVBM
SFQPSU
PO
'PSN
,
GPS
UIF
ZFBS
FOEFE
%FDFNCFS


PG
UIF
$PNQBOZ
GVMMZ
DPNQMJFT
XJUI
UIF
SFRVJSFNFOUT PG
TFDUJPO
 B
PS
 E
PG
UIF
4FDVSJUJFT
&YDIBOHF
"DU
PG

BOE
UIF
JOGPSNBUJPO
DPOUBJOFE
JO
UIF
'PSN
,
GBJSMZ
QSFTFOUT JO
BMM
NBUFSJBM
SFTQFDUT
UIF
GJOBODJBM
DPOEJUJPO
BOE
SFTVMUT
PG
PQFSBUJPOT
PG
UIF
$PNQBOZ

'FCSVBSZ

 #Z T
3FCFDDB
4
$MBSZ 3FCFDDB
4
$MBSZ $IJFG
'JOBODJBM
0GGJDFS
1SJODJQBM
'JOBODJBM
0GGJDFS [This page intentionally left blank]

Stock Performance Graph

The following graph shows a comparison from December 31, 2014 through December 31, 2019 of cumulative total return for our Common Stock, the NASDAQ Telecommunications Index, the S&P 500 Stock Index and the Dow Jones Industrial Average Index, assuming $100 had been invested in each on December 31, 2014. Such returns are based on historical results and are not intended to suggest future performance. The calculation of cumulative total return is based on the change in stock price and assumes reinvestment of dividends for the NASDAQ Telecommunications Index and the Dow Jones Industrial Average Index. We have never paid dividends on our Common Stock and have no present plans to do so.

Globalstar, Inc. Common Stock Performance Graph

$180

$160

$140

$120

$100

$80

$60

$40

$20

$- 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019

Globalstar, Inc. Nasdaq Telecommunications Index S&P 500 Stock Index Dow Jones Industrial Average Index [This page intentionally left blank] [This page intentionally left blank] Executive Office Board of Directors Executive Officers Globalstar, Inc. James Monroe III David B. Kagan 1351 Holiday Square Blvd. Executive Chairman Chief Executive Officer Covington, LA 70433 of the Board USA Thermo Companies Rebecca S. Clary (985) 335-1500 Vice President, Chief Financial James F. Lynch Officer Company Home Page Director www.globalstar.com Thermo Companies L. Barbee Ponder IV FiberLight LLC General Counsel and Vice Stockholder Information President, Regulatory Affairs For further information about William A. Hasler the Company, hard copies of Director Corporate Secretary this Report, SEC filings, and Ataraxis Biosciences and Richard S. Roberts other published corporate Rubicon Ltd. Corporate Secretary information, please visit the Company’s website noted Benjamin G. Wolff Common Stock above. Director The Company’s voting Sarcos Robotics common stock is traded on the NYSE American under the Transfer Agent Computershare symbol “GSAT.” As of April Keith O. Cowan PO BOX 505000 21, 2020, the Company had Louisville, KY 40233-5000 Director 1,668,622,083 voting shares (800) 962-4284 Cowan Consulting outstanding and 225 holders of www.computershare.com Corporation LLC record.

Independent Auditors Timothy E. Taylor Ernst & Young, LLP Director New Orleans, LA Globalstar, Inc. Thermo Companies Legal Counsel Taft Stettinius & Hollister LLP Michael J. Lovett Cincinnati, OH Director Eagle River Partners LLC Investor Relations Denise Davila Corporate Communications Manager