*OTUBMMBUJPO *OTUSVDUJPOT 8BSSBOUZ 4UBSDL 99 4UBSDL 99 6SRVJPMB 99
99 99 99
*OTUBMMBUJPO $POTJEFSBUJPOT p 'PS CFTU SFTVMUT )BOTHSPIF SFDPNNFOET UIBU UIJT VOJU CF JOTUBMMFE CZ B MJDFOTFE QSPGFTTJPOBM QMVNCFS p 1MFBTF SFBE PWFS UIFTF JOTUSVDUJPOT UIPSPVHIMZ CFGPSF CFHJOOJOH JOTUBMMBUJPO .
&OHMJTI *OTUBMMBUJPO "MM NPEFMT $VU UIF QMBTUFS TIJFME TP UIBU JU FYUFOET ØĬı PVUTJEF UIF TVSGBDF PG UIF ÙOJTIFE XBMM 4FBM UIF XBMM BSPVOE UIF QMBTUFS TIJFME XJUI XBUFSQSPPG TFBMBOU 'BJMVSF UP TFBM UIF XBMM NBZ SFTVMU JO XBUFS EBNBHF *OTUBMM UIF TMJQ DPOOFDUPS 4JMJDPO 99 TFF QBHF 99 TFF QBHF 99 TFF QBHF
'SBO¿BJT &TQBÉPM 5PVT MFT NPEÀMFT 5PEPT MPT NPEFMFT 3FUJSF[ MF DBQVDIPO 3FUJSF MB UBQB $PVQF[ MF QSPUFDUFVS EF GB¿PO ¸ DF RVmVOF QBSUJF EF ØĬı QP TPJU ¸ MmFYUÁSJFVS EF MB TVSGBDF EV NVS ÙOJ $PSUF FM QSPUFDUPS EF ZFTP EF NPEP RVF TPCSFTBMHB ØĬı EF MB TVQFSÙDJF EF MB QBSFE UFSNJOBEB 4DFMMF[ MF NVS BVUPVS EV QSPUFDUFVS ¸ MmBJEF EmVO BHFOU EmÁUBODIÁJUÁ 4FMMF MB QBSFE BMSFEFEPS EFM QSPUFDUPS EF ZFTP DPO VO TFMMBEPS JNQFSNFBCMF 4J MF NVS OmFTU QBT TDFMMÁ MmFBV QPVSSBJU ÁWFOUVFMMFNFOU
&OHMJTI 99 POMZ $VU UIF TMJQ DPOOFDUPS TP UIBU JU FYUFOET PVUTJEF UIF TVSGBDF PG UIF ÙOJTIFE XBMM *OTUBMM UIF TQJOEMF FYUFOTJPO $VU UIF TQJOEMF FYUFOTJPO TP UIBU JU FYUFOET Ğ PVUTJEF UIF TVSGBDF PG UIF ÙOJTIFE XBMM *OTFSU UIF DVU TQJOEMF FYUFOTJPO JO UIF TMFFWF
'SBO¿BJT &TQBÉPM 99 TFVMFNFOU 99 TPMBNFOUF $PVQF[ MF SBDDPSE ¸ HMJTTFNFOU EF GB¿PO ¸ DF RVmVOF QBSUJF EF QP TPJU ¸ MmFYUÁSJFVS EF MB TVSGBDF EV NVS ÙOJ $PSUF FM BDPQMBNJFOUP EFTMJ[BOUF EF NPEP RVF TPCSFTBMHB QP EF MB TVQFSÙDJF EF MB QBSFE UFSNJ OBEB *OTUBMMF[ MB UJHF EmFYUFOTJPO *OTUBMF FM IVTJMMP EF FYUFOTJËO $PVQF[ MB UJHF EmFYUFOTJPO EF GB¿PO ¸ DF RVmVOF QBSUJF EF Ğ QP TPJU ¸ MmFYUÁSJFVS EF MB TVSGBDF EV NVS ÙOJ $PSUF FM IVTJMMP EF FYUFOTJËO EF NPEP RVF TPCSFTBM HB Ğ
&OHMJTI 1PTJUJPO UIF FTDVUDIFPO PWFS UIF WBMWF *OTFSU UIF TMFFWF 4FDVSF UIF TMFFWF PWFS UIF SPVHI BOE FTDVUDIFPO CZ SPUBUJOH JU DMPDLXJTF N / NN 1MBDF B EBC PG XBUFSQSPPG TFBMBOU PO UIF HSPVU MJOFT O DP MJ 4J *OTUBMM UIF IBOEMF TOBQ DPOOFDUPS BOE TDSFX 1SFTT UIF IBOEMF JOUP QMBDF PWFS UIF TOBQ DPOOFDUPS 5JHIUFO UIF IBOEMF TDSFX VTJOH B NN "MMFO XSFODI *OTUBMM UIF TDSFX DPWFS *OTUBMM UIF JDPOT N N
'SBO¿BJT &TQBÉPM *OTUBMMF[ MF SPTBDF *OTUBMF FM FNCFMMFDFEPS *OTUBMMF[ M ÁDSPV *OTUBMF MB UVFSDB 4FSSF[ M ÁDSPV ¹ M BJEF E VOF DMÁ EF NN "QSJFUF MB UVFSDB DPO VOB MMBWF EF NN 4DFMMF[ MF NVS TVS MFT MJHOFT EFT KPJOUT ¸ MmBJEF EmVO BHFOU EmÁUBODIÁJUÁ 4FMMF MB QBSFE FO MBT MÅOFBT EF MFDIBEB EF DFNFOUP DPO VO TFMMBEPS JNQFSNFBCMF *OTUBMMF[ MF DPOOFDUFVS ¸ FODMJRVFUFS *OTUBMF FM DPOFDUPS B QSFTJËO *OTUBMMF[ MB QPJHOÁF *OTUBMF FM NBOEP 4FSSF[ MB WJT ¸ M BJEF E VOF DMÁ IFYBHPOB
&OHMJTI 99 POMZ $VU UIF TMJQ DPOOFDUPS TP UIBU JU FYUFOET ğ PVUTJEF UIF TVSGBDF PG UIF ÙOJTIFE XBMM *OTUBMM UIF TQJOEMF FYUFOTJPO $VU UIF TQJOEMF FYUFOTJPO TP UIBU JU FYUFOET ġ PVUTJEF UIF TVSGBDF PG UIF ÙOJTIFE XBMM *OTFSU UIF DVU TQJOEMF FYUFOTJPO JO UIF TMFFWF
'SBO¿BJT &TQBÉPM 99 TFVMFNFOU TPMBNFOUF $PVQF[ MF SBDDPSE ¸ HMJTTFNFOU EF GB¿PO ¸ DF RVmVOF QBSUJF EF ğ QP TPJU ¸ MmFYUÁSJFVS EF MB TVSGBDF EV NVS ÙOJ $PSUF FM BDPQMBNJFOUP EFTMJ[BOUF EF NPEP RVF TPCSFTBMHB ğ QP EF MB TVQFSÙDJF EF MB QBSFE UFSNJOBEB *OTUBMMF[ MB UJHF EmFYUFOTJPO *OTUBMF FM IVTJMMP EF FYUFOTJËO $PVQF[ MB UJHF EmFYUFOTJPO EF GB¿PO ¸ DF RVmVOF QBSUJF EF ġ QP TPJU ¸ MmFYUÁSJFVS EF MB TVSGBDF EV NVS ÙOJ $PSUF FM IVTJMMP EF FYUFOTJËO EF NPEP RVF TPCSFTB
&OHMJTI 1PTJUJPO UIF FTDVUDIFPO PWFS UIF WBMWF *OTFSU UIF TMFFWF 4FDVSF UIF TMFFWF PWFS UIF SPVHI BOE FTDVUDIFPO CZ SPUBUJOH JU DMPDLXJTF N / NN 1MBDF B EBC PG XBUFSQSPPG TFBMBOU PO UIF HSPVU MJOFT PO MJD 4J *OTUBMM UIF IBOEMF TOBQ DPOOFDUPS 1SFTT UIF IBOEMF JOUP QMBDF PWFS UIF TOBQ DPOOFDUPS *OTUBMM BOE UJHIUFO UIF TDSFX *OTUBMM UIF TDSFX DPWFS
'SBO¿BJT &TQBÉPM *OTUBMMF[ MF SPTBDF *OTUBMF FM FNCFMMFDFEPS *OTUBMMF[ M ÁDSPV *OTUBMF MB UVFSDB 4FSSF[ M ÁDSPV ¹ M BJEF E VOF DMÁ EF NN "QSJFUF MB UVFSDB DPO VOB MMBWF EF NN 4DFMMF[ MF NVS TVS MFT MJHOFT EFT KPJOUT ¸ MmBJEF EmVO BHFOU EmÁUBODIÁJUÁ 4FMMF MB QBSFE FO MBT MÅOFBT EF MFDIBEB EF DFNFOUP DPO VO TFMMBEPS JNQFSNFBCMF *OTUBMMF[ MF DPOOFDUFVS ¸ FODMJRVFUFS *OTUBMF FM DPOFDUPS B QSFTJËO *OTUBMMF[ MB QPJHOÁF *OTUBMF FM NBOEP 4FSSF[ MB WJT "QSJFUF FM UPSOJMMP *OT
&OHMJTI 99 POMZ $VU UIF TMJQ DPOOFDUPS TP UIBU JU FYUFOET ĪØĬı PVUTJEF UIF TVSGBDF PG UIF ÙOJTIFE XBMM *OTUBMM UIF TQJOEMF FYUFOTJPO $VU UIF TQJOEMF FYUFOTJPO TP UIBU JU FYUFOET PVUTJEF UIF TVSGBDF PG UIF ÙOJTIFE XBMM *OTUBMM UIF FTDVUDIFPO -JHIUMZ MVCSJDBUF P SJOH PO UIF OVU XJUI XIJUF QMVNCFST HSFBTF *OTUBMM UIF OVU 5JHIUFO JU VTJOH B NN XSFODI NN NBY /N
'SBO¿BJT &TQBÉPM 99 TFVMFNFOU 99 TPMBNFOUF $PVQF[ MF SBDDPSE ¸ HMJTTFNFOU EF GB¿PO ¸ DF RVmVOF QBSUJF EF ĪØĬı QP TPJU ¸ MmFYUÁSJFVS EF MB TVS GBDF EV NVS ÙOJ $PSUF FM BDPQMBNJFOUP EFTMJ[BOUF EF NPEP RVF TP CSFTBMHB ĪØĬı EF MB TVQFSÙDJF EF MB QBSFE UFSNJOBEB *OTUBMF FM IVTJMMP EF FYUFOTJËO *OTUBMMF[ MB UJHF EmFYUFOTJPO $PVQF[ MB UJHF EmFYUFOTJPO EF GB¿PO ¸ DF RVmVOF QBS UJF EF QP TPJU ¸ MmFYUÁSJFVS EF MB TVSGBDF EV NVS ÙOJ $PSUF FM IVTJMMP EF FYUFOTJËO EF NPEP RVF TPCSF T
&OHMJTI 1MBDF B EBC PG XBUFSQSPPG TFBMBOU BU UIF HSPVU KPJOUT O JLP M J 4 *OTUBMM UIF IBOEMF *OTQFDU UIF BMJHONFOU PG UIF IBOEMF
'SBO¿BJT &TQBÉPM 4DFMMF[ MF NVS TVS MFT MJHOFT EFT KPJOUT ¸ MmBJEF EmVO BHFOU EmÁUBODIÁJUÁ 4FMMF MB QBSFE FO MBT MÅOFBT EF MFDIBEB EF DFNFOUP DPO VO TFMMBEPS JNQFSNFBCMF 1PVTTF[ MB QPJHOÁF TVS M ÁDSPV $PMPRVF FM NBOEP TPCSF MB UVFSDB 7ÁSJÙF[ MmBMJHOFNFOU EF QPJHOÁF *OTQFDDJPOF MB BMJOFBDJËO EFM NBOEP
&OHMJTI *G JU JT OPU TUSBJHIU SFNPWF UIF IBOEMF SFQPTJUJPO BOE SFJOTUBMM JU 5JHIUFO UIF IBOEMF TDSFX *OTUBMM UIF TDSFX DPWFS NN
'SBO¿BJT &TQBÉPM 4mJM OF DPOWJFOU QBT SFUJSF[ MB QPJHOÁF 4J OP FT TBUJTGBDUPSJB RVJUF FM NBOEP 5PVSOF[ MB QPJHOÁF (JSF FM NBOEP 3FNQMBDF[ MB QPJHOÁF 3FFNQMBDF FM NBOEP 4FSSF[ MB WJT "QSJFUF FM UPSOJMMP *OTUBMMF[ MF DBDIF WJT *OTUBMF MB UBQB EFM UPSOJMMP
3FQMBDFNFOU 1BSUT 1JÀDFT EÁUBDIÁFT 3FQVFTUPT 99 99 6SRVJPMB 99 Y 99 99 99 99 99 4UBSDL 99 Y 99 4UBSDL 99 99 99 DPMPST DISPNF CSVTIFE OJDLFM QPMJTIFE OJDLFM
$MFBOJOH 3FDPNNFOEBUJPO GPS )BOTHSPIF 1SPEVDUT .
p 1PVS MF OFUUPZBHF BWFD QSPEVJU WBQPSJTÁ MJRVJEF FO BVDVO DBT TVS MB SPCJOFUUFSJF NBJT BV DPOUSBJSF BTQFSHÁ TVS MF DIJñPO UPSDIPO ÁQPOHF FU FñFDUVFS DPNNF DFMB MF OFUUPZBHF DBS MFT BÁSPTPMT QFVWFOU QÁOÁUSFS EBOT MFT PVWFSUVSFT FU GFOUFT EF MB SPCJOFUUFSJF FU QFVWFOU QSPWPRVFS EFT EÁUÁSJPSBUJPOT p "QSÀT MF OFUUPZBHF SJODF[ BWFD TVòTBNNFOU EmFBV DMBJSF QPVS ÁMJNJOFS MFT SFTUFT EF QSPEVJUT BUUBDIÁT p -mVUJMJTBUJPO EmBQQBSFJM EF OFUUPZBHF ¸ WBQFVS OmFTU QBT BVUPSJTÁF DBS MFT UFNQÁSBUVSFT JNQPSUBO
-JNJUFE $POTVNFS 8BSSBOUZ 5IJT QSPEVDU IBT CFFO NBOVGBDUVSFE BOE UFTUFE UP UIF IJHIFTU RVBMJUZ TUBOEBSET CZ )BOTHSPIF *OD n)BOTHSPIFo 5IJT XBSSBOUZ JT MJNJUFE UP )BOTHSPIF QSPEVDUT UIBU BSF QVSDIBTFE CZ B DPOTVNFS JO UIF 6OJUFE 4UBUFT PS $BOBEB BGUFS .
8IFO XBSSBOUZ TFSWJDF JT DPNQMFUFE BOZ SFQBJSFE PS SFQMBDFNFOU QSPEVDU PS QBSU XJMM CF SFUVSOFE UP ZPV QPTUBHF QSFQBJE &9$-64*0/4 "/% -*.*5"5*0/4 3&1"*3 03 3&1-"$&.&/5 03 */ -*.*5&% $*3$6.45"/$&4 3&'6/% 0' 5)& 163$)"4& 13*$& "4 1307*%&% 6/%&3 5)*4 8"33"/5: *4 5)& &9$-64*7& 3&.&%: 0' 5)& 163$)"4&3 )"/4(30)& /&*5)&3 "446.
