*'5&8(-6&20*.
3.'187:+6<+/).3/7 !/).+6.+/87 93* %'63./3;+/7+ ->@ 34< 8=10C 8=E48A4 HC 7@4@ *8274@748B ,@A0274= 5S@ *27P34= .6 3+9+6 ')04,+3 4384=54;3 C=:B8>=AEP7;4@ +0AB4= C=3 =H4864 +4
3.'187:+6<+/).
!/).+6.+/87 93* %'63.
/3;+/7+ <9 .6+6 !/).+6.+/8 +6?8+8B6 +/>+6 '66'92 84A4A 4@PB 8AB =C@ 5S@ 34= ?@8D0B4= 0CA70;B 14AB8<= *?48A4= @E027A4=4 C=3 "8=34@ 3S@54= 30A 4@PB =827B C=140C5A827B86B 14384=4= H E4== A84 :R@?4@;827 >34@ 648AB86 =827B 8= 34@ #064 A8=3 >34@ H E4== 87=4= .8AA4= C=3 @507@C=6 547;4= %84 "8=34@ <8B 34< 4@PB A?84;4= ;0AA4= %84 384 4@PB4BS@ R55=4= EP7@4=3 34A 4B@841A .
+/>+7 &9(+.A6 93* +7)./66 -4@1@4==C=6A64507@ %84 748O4A /C147R@ >34@ 4A278@@ >7=4 +>?5;0??4= 0CA 34< 0@@0C< =47<4= #37').-+2?>+ +5'6'896+3 *B@>= C=A 64A27C;B4@ "C=34=384=ABU+427=8:4@ 30@5 )4?0@0BC@4= 3C@275S7@4= .
1B77/-+ '.693-72/88+1 69).87?,8+ 970B.1+3 (+/ 4,,+3+6 +6?8+8B6 !8'60 :+67).298<8+ ')04,+3*/).893- ')04,+38B6 '17 !/854=A 148 64A27;>AA4=4@ 02:>54=BS@ 0C514E07@4= 0A <08; E8@3 14A27P386B 0A ;427 148 34@ /C14@48BC=6 D>= A05B864< &1AB:C274= =827B HC D>;; <0274= &1ABA05B 34@ D>< 02:1;427 B@>?5B 78=B4@;PAAB ;42:4= 384 =827B <47@ 4=B54@=B E4@34= :R==4= .
.6 3+9+6 ')04,+3 84@ ;4@=4= *84 7@4= =4C4= 02:>54= :4==4= = 384A4< 1A27=8BB 4@:;P@4= E8@ 7=4= 30A 4384=54;3 C=3 384 48=H4;=4= 4384=4;4<4=B4 14=A> 58=34= *84 784@ =5>@<0B8>=4= HC /C147R@ C=3 4AB0=3B48;4= 8< ==4@4= 34A 02:>54=A +*/+3,+1* 84@ A474= *84 48=4 N14@A827B 34A 4384=54;34A A 4@A2748=4= =84 0;;4 *G<1>;4 6;4827H48B86 8= 34@ =H4864 !4 =027 4@PB4BG? A8=3 1E4827C=64= ;C9?>BFP8<5A $+67+30('6+ 6+.
5(..60* 2 59O D>4 52P3; 1D6 59> 29B IF59 25>5> 5A .5>C9<1C?A E5AC597859I;QA@5AB 9> 45A *R3;F1>4 7<5938=PO97 9= 1AA1D= % '25AT ->C5A89CI5 RA #D385> D64 =175A5 A1C5>BCR3;5 I *9>4 ?45A /9<4 1D6 59>5A 25>5 95 9CI5 ;?==C 7<5938=PO97 E?> ?25> D>4 D>C5> 0 D>;C9?> (9II1 +38>5<<5 0D25A59CD>7 E?> ,956;R8<@A?4D;C5> ?8>5 .
$45( !(38(0'60* 0 059C6D>;C9?>5> /53;5A V 1D5A x >45I59C y D>4 -8AI59C 0 1DBFP8<5> A %9>DB 9>BC5<75A> @ (BC5< h +38>5<<1D6859ID>7 13;?65> 25B?>45AB B38>5<< 1D6859I5> #9>45AB9385AD>7 5495>65<4 B@5AA5> D>4 5>CB@5AA5> .4;274 /48B5C=:B8>= 8= 34@ =H4864 8< ->@34@6@C=3 AB47B A474= *84 0= 34< '548; N D>@ 34< 4=BA?@4274=34= *G<1>; CA=07<4 48 34@ ,7@H48B ;4C27B4B 30A *G<1>; 0 =C@ E4== *84 P=34@= "+25+6'896;?.
'66'92 < 02:>54= 1458=34= A827 48= 41;PA4 C=3 48=4 02:>54=;054=;0 8AB 48=4 >?B8<0;4 48=@464;C=6
145 6RA 5B389AA #D385>6?A=5> A1C5> A9<4 ,956;R8<75A938C5 *?BC =9C 45A #AR==D>7 >138 D>C5> ¾ 59>B389525> .$&+(4 /$,. $&-%.(&+ RA #D385> ,597F1A5> D>4 ( 1B 13;2<538 =9C 45A 2B38AP7D>7 IDA 13;?65>CRA 9> 45> 13;?65> B389525> ,()(4 /$,. 0,7(34$.%.
%5C1<<2APC5A 0 5A APC5A 9BC 1275BC9==C 1D6 495 APC5AI?>5 45B <1B;5A1=9;T#?3865<45B A 9BC 6RA 495 #?38B5>B?A9; 125A 1D38 6RA 495 (A?7A1==T ?45A A1C1DC?=1C9; 75597>5C 5A APC5A 9BC 1DO5> 5=19<95AC D>4 9>>5> 1>C9816CT25B38938C5C <1B2APC5A 0 5A <1B2APC5A 9BC 75597>5C 6RA +38=?A75A938C5 D>4 D6 ID25A59C5> 5B?>45AB 75597>5C 9BC 5A 6RA 495 (A?7A1==T ?45A A1C1DC?=1C9; T6138 ,5<5B;?@T.
+/3/-93- *+7 &9(+.
$8B 34< C=:B8>=AEP7;4@ 384 48H0@B 48=AB4;;4= $8B 34< +434@ @8;;ABC54 48=AB4;;4= 4@ 02:>54= 1468==B HC 748H4= ')04,+3 '977).'18+3 C=:B8>=AEP7;4@ 0C5 384 %C;;AB4;;C=6 3@474= /378+1193-+3 ?3*+63 *84 :R==4= 48H0@B C=3 +434@ @8;;ABC54 9434@H48B <8B 34< 94E48;864= .
!).3+11'9,.
&+/8,9308/43+3 +/378+11+3 7@ 02:>54= 70B D4@A278434=4 /48B5C=:B8>=4= $8B +0AB4 0 @C54= *84 30A $4=S 0C5 C=3 E427A4;= HE8A274= 34= 48=H4;=4= C=:B8>=4= *>;0=64 *84 48=AB4;;4= :R==4= ;4C27B4= 0;;4 /48BAG<1>;4 4@ '548; N H486B 7=4= 148 E4;274@ /48B5C=:B8>= *84 A827 1458=34= 8=4 14@48BA 48=64AB4;;B4 /48B5C=:B8>= :R==4= *84 38@4:B <8B +0AB4 @ >34@ A P=34@= E4== D>@ 34< /48BAG<1>; 34@ '548; N AB47B %+)0+6 4= .42:4@ :R==4= *84 E84 48=4= "S274=E42:4@ 14=CBH4= @ ;PC5B C=017P=686 D>< 0@@0C< 4@ .
,< .42:4@ V 0C4@ x =34H48B y >34@ ,7@H48B 0 01HC5@064= +0AB4 0 A> >5B 3@S2:4= 18A 34@ '548; N D>@ 34< 94E48;864= *G<1>; AB47B 4@ .4@B 30HC 4@A2748=B 5S@ 48=864 *4:C=34= 8= 34@ =H4864 '9+6 *84 :R==4= 384 0@30C4@ 7@4A 4@827BA 0< 02:>54= 48=AB4;;4= .
+0AB4 0 HE48<0; 3@S2:4= = 34@ =H4864 AB47B 84 /48BAG<1>;4 ;4C27B4= 34@ '548; N AB47B D>@ x $8B +0AB4 @ >34@ A 384 0C4@ 48=AB4;;4= ->@A27;06AE4@B +0AB4 @ $8=CB4= ->@A27;06AE4@B +0AB4 A $8=CB4= %027 E4=864= *4:C=34= AB0@B4B 34@ 02:>54= = 34@ =H4864 ;PC5B 384 0C4@ A827B10@ 01 C=3 30A *G<1>; Nx ;4C27B4B 84 0=34@4= /48BAG<1>;4 4@;RA274= '9+6 /78 '(-+1'9,+3 8= *86=0; 4@BR=B 4@ 02:>54= 7R@B 0C5 HC 748H4= = 34@ =H4864 AB47B +0AB4 0 3@S2:4= $8B +0AB4 @ >34@ A :R==4= *84 4@=4CB 48=4 0C
'9+6 1A7).+3 $8B +0AB4 A 384 0C4@ 18A 0C5 HC@S2:AB4;;4= %027 E4=864= *4:C=34= E8@3 384 K=34@C=6 S14@=><<4= 84 0C4@ 8AB 64;RA27B .4== 34@ .42:4@ 48=64AB4;;B 8AB 3@S2:4= *84 D>@74@ +0AB4 0 &+/8+/378+1193-+3 '(,6'-+3 .4== <47@4@4 /48B5C=:B8>=4= 48=64AB4;;B A8=3 ;4C27B4= 384 4=BA?@4274=34= *G<1>;4 8= 34@ =H4864 ->@ 34< *G<1>; 34@ /48B5C=:B8>= 8< ->@34@6@C=3 AB47B 34@ '548; N ,< .
+0AB4 0 3@S2:4= 4@ '548; N AB47B D>@ y A 4@A2748=B 384 ,7@H48B HC 34@ 30A 4@827B 54@B86 8AB $8B +0AB4 @ >34@ A 384 =34H48B 0C5 A?PB4@ D4@A278414= %027 E4=864= *4:C=34= S14@=8<54= 384 8=AB4;;C=64= C=3 A270;B4B 8= .0@B4?>A8B8>= = 34@ =H4864 AB47B 384 ,7@H48B HC 34@ 30A 4@827B 54@B86 8AB C=3 D>@ 34< *G<1>; y AB47B 34@ '548; N *G<1>; V C=3 0 4@;RA274= .
3*+<+/8 ?3*+63 $8B +0AB4 @ >34@ A 384 =34H48B P=34@= %027 E4=864= *4:C=34= E8@3 384 K=34@C=6 S14@=><<4= .4== 34@ .42:4@ 48=64AB4;;B 8AB 3@S2:4= *84 D>@74@ +0AB4 0 HE48<0; K=34@= *84 384 =34H48B =827B E4== 384 0C4@ 14@48BA 01;PC5B 0A 0@4@641=8A ES@34 =827B <47@ AB8<<4= 3*+<+/8 1A7).+3 $8B +0AB4 A 384 =34H48B 0C5 384 0:BC4;;4 ,7@H48B HC@S2:AB4;;4= %027 E4=864= *4:C=34= E8@3 384 K=34@C=6 S14@=><<4= 4@ 02:>54= AB0@B4B .4== 34@ .
/3*+67/).+693 0<8B "8=34@ 34= 02:>54= =827B D4@A474=B;827 48=A270;B4= 70B 4@ 48=4 "8=34@A8274@C=6 4@ 02:>54= @40684@B 0C5 :48=4 8=AB4;;C=64= .42:4@ C=3 ,7@H48B :R==4= *84 0C27 148 48=64A270;B4B4@ "8=34@A8274@C=6 48=AB4;;4= /3*+67/).+693+/37).'18+3 4@ C=:B8>=AEP7;4@ ; @ 84 "8=34@A8274@C=6 8AB 48=64A270;B4B /3*+67/).+693'977).
4@ 02:>54= 34@ A 384 @C=348=AB4;;C=6 P=34@= $8B +0AB4 0 14ABPB864= = 34@ =H4864 4@A2748=B 384 =P27AB4 @C=348=AB4;;C=6 *84 :R==4= <8B +0AB4 0 0;;4 14=4= 3C@276474= C=3 <8B +0AB4 @ >34@ A P=34@= /C< *27;CAA +0AB4 0 20 *4:C=34= ;0=6 3@S2:4= ;;4 @C=348=AB4;;C=64= A8=3 S14@=><<4= *84 :R==4= 7@4 @C=348=AB4;;
!+1(786+/3/-93 48 34@ *4;1AB@48=86C=6 748HB 34@ 02:>54= 18A 20 J 0C5 *> D4@1@4==4= )S2:ABP=34 D>< @0B4= @8;;4= >34@ 02:4= C=3 *84 27 384 A274 0CA 34< 0@@0C< E8A274= *84 :R==4= C=B4@ 3@48 )48=86C=6AABC54= 0CAEP7;4= +/3/-93-7789,+3 56)( (,0,*60*4*3$' $6(3 <5938C 31 +CD>45 %9>DC5> =9CC5< 31 +CD>45 %9>DC5> 9>C5>B9E 31 +CD>45> !4 ABP@:4@ C=3 P;B4@ 384 -4@A27 7R74@ A>;;B4 384 )48=86C=6AABC54 A48= A 64=S6B E4== *84 34= 0@@0C< 0;;4 HE48
$46 *+6 !+1(786+/3/-93- 4@ 0@@0C< A>;;B4 ;44@ A48= /C147R@ ">27645PO4 C=3 )>AB4 74@0CA=47<4= 8=H4;748B4= HC< 4@0CA=47<4= 34@ )>AB4 58=34= *84 8< 1A27=8BB @0=364507@ #>A4 *?48A4@4AB4 4BB C=3 @0B4=A05B :R==4= A827 4=BHS=34= .8A274= *84 34= 0@@0C< <8B 48=4< 54C27B4= +C27 0CA 84 +S@ 34A 02:>54=A C=3 384 A48B;8274= ==4=5;P274= 8= 34@ %P74 34@ 827BC=64= @48=864= %827B 0C5 34= 827BC=64= 38@4:B @4814= +2+/37'2+ +/3/-93*+7 &9(+.
4@ )>AB A>;;B4 =827B <8B 34@ C=:B8>= *4;1AB@48=86C=6 64@48=86B E4@34= 4507@ A27E4@4@ 4AC=3748BAA27P34= %84 0=B8705B14A27827B4B4 ;4274 C=3 >@<4= <8B@48=864= C@27 384 6@>O4 8BH4 E8@3 384 =B8705B14A27827BC=6 H4@ABR@B C=3 4A 4=BAB474= 685B864 0A4 /378+11+3 %027 34@ CAE07; 34@ )48=86C=6AABC54 34= 02:>54= 48=AB4;;4= 4= C=:B8>=AEP7;4@ 0C5 *4;1AB@48=86C=6 x AB4;;4= $8B 34< +4
3*+<+/8 :+67)./+(+3 *84 :R==4= 384 /48B HC 34@ 384 *4;1AB@48=86C=6 4=34B D4@A278414= 84 *4;1AB@48=86C=6 :0== A> H =027BA ;0C54= 30<8B *84 B06AS14@ 7@4= 02:>54= =CBH4= :R==4= *B4;;4= *84 48= E84 8= 'C=:B C=3 14A27@8414= 4D>@ 34@ 02:>54= AB0@B4B <8B +0AB4 @ >34@ A 384 =34H48B 0C5 A?PB4@ D4@A278414= 4@ 02:>54= A270;B4B 8= .0@B4?>A8B8>= = 34@ =H4864 AB47B 384 ,7@H48B HC 34@ 384 *4;1AB@48=86C=6 4=34B C=3 D>@ 34< *G<1>; y AB47B 34@ '548; N .
,1+-+ 93* +/3/-937@ 02:>54= 1;481B ;0=64 AB@07;4=3 C=3 D>;; 5C=:B8>=AB0C6;827 E4== 4@ @827B86 64@48=86B C=3 64?5;46B E8@3 .
(3(,&+ (,0,*60*4/,55(.
(3(,&+ (,0,*60*4/,55(. 5BC5<<5 59O5 +@R<<1D75 9>F59385> D>4 =9C 59>5= +@R5A RABC5 A59>975> ,5<5B;?@1DBIR75 59O5 +@R<<1D75 %9C 59>5= +@R5A RABC5 A59>975> &938C 59>F59385> ?45A 9= 5B389AAB@R<5A A59>975> 0D258QA 59O5 +@R<<1D75 9>F59385> D>4 =9C 59>5= +@R5A RABC5 A59>975> ')04,+31'25+ S@ 48=4 4@;4827B4@B4 02:>54=@48=86C=6 8AB 4A 54=A 48=HCA270;B4= /+ ')04,+31'25+ +/37).
)48=864= *84 384 4AB4;;4 <8B *?S;<8BB4; C=3 48=4< *?S;A27E0<< 48 70@B=P2:864= -4@A27@34@4 C27A4 48=7P=64= 8;3 84 4AB4;;4 ?0AA4= @427BA C=3 ;8=:A 84 CA1C27BC=6
"B6 '97.?3-+3 -4@;4BHC=6A64507@ .4== 384 *270@=84@4 C=64A8274@B A8=3 :R==4= A84 ?;RBH;827 HCA27=0??4= 27B4= *84 30@0C5 30AA 384 *?4@@7414; 8<<4@ 60=H HC64:;0??B 1HE 148< CA7P=64= 34@ 02:>54=BS@ 60=H 0C564:;0??B A8=3 02:>54=BS@ 60=H R55=4= 4834 *?4@@7414; ;8=:A C=3 @427BA 0C5:;0??4= 11 02:>54=BS@ 18A =A27;06 A27;84O4= 11 $8B 14834= P=34= ;8=:A C=3 @427BA 0=50AA4= %>27 4BE0A E48B4@ A27;84O4= C=3 74@0CAH8474= "B6 +/3.
.4== 384 *270@=84@4 =827B :>@@4:B 48=6410CB E4@34= :0== 384 +S@ D4@A27>14= A48= 4834 *?4@@7414; E8434@ HC:;0??4= 11 02:>54=BS@ A27;84O4= "B67).+/(+3 '97C 93* +/3('9+3 97('9+3 -4@;4BHC=6A64507@ .
">34= 01=47<4= 8;3 84 14834= ";0<<4@= >14= D>= 34@ *274814 4=B54@=4= 8;3 0HC <8B 34< 0C<4= 384 ";0<<4@ 4BE0A =027 C=B4= 3@S2:4= C=3 <8B 34< /486458=64@ 384 #0A274 =027 0CO4= H8474= 8;3 84 ==4=A274814 0=7414= 4BE0A =027 >14= A278414= C=3 =027 C=B4= 74@0CAH8474= 8;3 )48=864= *84 384 *274814= <8B ;0A@48=864@ C=3 48=4< E48274= +C27
/3('9+3 4=CBH4= *84 :48=4 A270@54= >34@ A274C4@=34= $8BB4; C=3 :48=4= ;0AA27014@ 0A ;0A :0== 14A27P386B E4@34= 27B4= *84 148< 8=10C4= 30@0C5 30AA @427BA >14= 34@ *27@85BHC6 I@867B 01>D4 AB47B ==4=A274814 A27@P6 =027 >14= 48=A278414= C=3 C=B4= 0=;464= 8;3 84 ";0<<4@= >14= ;8=:A C=3 @427BA E8434@ 48=A4BH4= 8;3 0HC 384 ";0<<4@= 8< >14@4= 4@4827 34@ 0;B4@C=6 48=7P=64= C=3 54AB 0=3@S2:4= 18A A84 48=@0AB4B 8;3 ">34= E8434@ 0C5A4BH4= 8;3 @AB 1
/3+ !8A693- ;'7 893 .4== 48=4 *BR@C=6 0C5B@8BB ;846B 4A >5B =C@ 0= 48=4@ ";48=86:48B 4D>@ *84 34= "C=34=384=AB @C54= D4@AC274= *84 18BB4 <8B 8;54 34@ +014;;4 384 *BR@C=6 A4;1AB HC 147414= !8A693-78'(+11+ 5=360* =*.,&+( 34$&+( %+,.
.4== 8= 34@ =H4864 48=4 47;4@<4;3C=6 <8B 4@A2748=B 3@S2:4= *84 384 +0AB4 0 84 $4;3C=6 D4@A27E8=34B 8=4 48=64AB4;;B4 /48B5C=:B8>= E8@3 64;RA27B .4== 384 47;4@<4;3C=6 =827B E8434@ D4@A27E8=34B @C54= *84 34= "C=34=384=AB +.1+62+1*93-+3 48 34@ 5>;64=34= 47;4@<4;3C=6 :R==4= *84 A4;1AB 178;54 A270554= (+.(3/(.'60* =*.,&+( 34$&+( %+,.
;0A01342:C=6 3C@27 #8=:A3@474= 74@0CAA27@0C14= #0
93*+3*/+378 ,=A4@ "C=34=384=AB AB47B 4=CBH4@= 5S@ )4?0@0BC@4= 34A 4@PBA 34= "0C5 D>= /C147R@ >34@ @A0BHB48;4= C=3 5S@ @064= 9434@ @B 8< /CA0<<4=70=6 <8B C=A4@4= '@>3C:B4= C=3 84=AB;48ABC=64= HC@ -4@5S6C=6 84 ">=B0:B30B4= C=A4@4A "C=34=384=AB4A :R==4= 34@ =;064 4=B=><<4= E4@34= +6?8+ 93* '(6/0'8/4373922+6 .
/3;+/7+ <9 3+6-/++/375'693- 93* #2;+187).
"'(+11+3 93* $467).1?-+ 84@ 58=34= *84 48=4 CAE07; 0= 4@827B4= C=3 384 305S@ 94E48;A >?B8<0;4 8=AB4;;C=6 *84 58=34= 0C27 =5>@<0B8>=4= S14@ 30A /C147R@ C=3 0C5 E4;274@ R74 34A 02:>54=A 384 4@827B4 48=64AB4;;B E4@34= A>;;B4= CO4@34< 7014= E8@ 5S@ *84 ->@A27;P64 5S@ 30A ">2764A278@@ C=3 384 /C14@48BC=6 34@ 4@827B4 HCA0<<4=64AB4;;B C=3 6414= 7=4= 48=4 :;48=4 8;54AB4;;C=6 50;;A 48=<0; 4BE0A =827B A> 6CB 64;8=6B .
6&+(0 )>3 #6%(3(,560* ,0 '(3 $&-)13/ $&-)13/ $6) '(/ 145 =+( (,9$35 (/2(3$ 563 : $&-9(,5 ,0 ,065(0 ,?AC5 ,?AC5>213;6?A= 1DB <538 M 3= % 2 T T T T % T T % T T )D9385 #D385>213;6?A= 1DB <538 M 3= #D385> #D385>213;6?A= 1DB <538 3= 0D= 7<5938I59C975> 13;5> E?> =58A5A5> #D385> BC5<<5> +95 =58A5A5 13;6?A=5> 1D6 45> *?BC .
$&-8$3(0 =+( (,9$35 13;2<538 9D=2<538 6<1385B 13;2<538 9D=2<538 C9565B ->9E5AB1<2<538 % T T 2 T T 2 T T 19B5ACQAC385> 13;2<538 2 /9>425DC5< 13;2<538 % %1;A?>5> 13;2<538 9D=2<538 6<1385B 13;2<538 9D=2<538 C9565B ->9E5AB1<2<538 % T T 2 T T 2 T T #5;B5 D>4 ( (/2(3$ $&-9(,5 563 : ,0 ,065(0 T T T T 59= 13;5> 1D6 IF59 25>5> 9==5A 41B
(3 6&+(0 ,45 1%(0 96 4(+3 *(%3<605 +389525> +95 45> #D385> 1D6 59>5 C9565A5 +CD65 FP8<5> +95 59>5 >954A975A5 13;C5=@5A1CDA D>4 <1BB5> +95 45> #D385>
75A 213;5> (3 6&+(0 ,45 96 531&-(0 +C5385> +95 45> 65AC975> #D385> =58A=15= 659>5> ? 59> ,APD65<> +95 >D> 59>975 ,A?@65> AD38CB16C ?45A <;?8?< 41AR25A A8Q85> +95 259= >P38BC5> %1< 495 13;C5=@5A1CDA D= A14 D>4 E5A;RAI5> +95 495 13;I59C $4 315 1'(3 $&-8(3- 96/ (,42,(.
6'08/7).+ 6'8+3 '87).1?-+ <92 .84 34@ @0B4= 64;8=6B 7P=6B D>= 34@ @B C=3 34@ (C0;8BPB 34A D4@E4=34B4= ;48A274A 01 .4== *84 48=4= <064@4= @0B4= HC14@48B4= 6414= *84 18A AA;R554; ;SAA86:48B HC .
.(,4&+ (8,&+5 ()<; =+( (,9$35 (/2(3$5 $39(,5 ,0 63 : ,065(0 3,..
84 5>;64=34 N14@A827B H486B 384 0@H48B4= D>= 34< /48B?C=:B 0= HC 34< 30A 0@6CB 8= 34= :0;B4= &54= 64AB4;;B E8@3 +,1B-+1 84 4E827BA0=6014= 8= 34@ +014;;4 14H8474= A827 0C5 45;S64; >7=4 S;;C=6 30A HC< 0@4= D>@14@48B4B EC@34 .4== *84 38@4:B 0C5 34< )>AB 6@8;;4= A278414= *84 30A <08; 02:1;427 8= R74 *B4274= *84 148 34@ /C14@48BC=6 D>= =B4 C=3 0=A 384 0CB C=B4@ 34= ;S64;= <47@<0;A 48= A> :0== 30A 4BB 4=BE48274= .
,4&+ (8,&+5 ()<; =+( (,9$35 (/2(3$563 $39(,5 ,0 : 3,..456)( ,065(0 57A9< +385925> =19< 13;2<538 1D6 Q85 T T T T T T 59>B389525> 6'08/7).+ '87).1?-+ ,B6 */+ &9(+6+/893- :43 6'8+3 /2 ')04,+3 93* 938+6 *+2 6/11 4 *,%5 ,0 '(3 $%(..
9,1?9,+ !49,,1@7 "4'78 84 =0275>;64=34 N14@A827B H486B 384 0@H48B4= D>= 34< /48B?C=:B 0= HC 34< 384 *?48A4= 8= 34= :0;B4= &54= 64AB4;;B E4@34= $3*65 ()<; =+( (,9$35 +RO5 D6 D6<1D66?A= % T T 5AI816C5 D6 0DC1C5> I &D45<1D6<1D6 D6<1D66?A= ?45A =19< 13;2<538 % % T T T T 5AI816C5 D6 0DC1C5> I #1AC?665<1D6<1D6 D6<1D66?A= ?45A =19< 13;2<538 4 4 T T T
+,+8+/- -+.
A66+3 %C@ 5@8A274A &1AB C=3 4?54= ;0AA4= C=3 D>;;ABP=386 B@>2:=4= <08; 02:1;427 C=3 )>AB <8B 02:?0?84@ 01342:4= $3*65 =+( (,9$35 (/2(3$563 : =339(,5 ,0 560'(0 7 M@65< 9> *9>75> 2 5CF1 2 5CF1 2 5CF1 T 2 5CF1 L +CD>45> 7 9A>5> 9> +CR3;5> ;7 (6<1D=5> 7 #R385>;APDC5A 75@DCIC =B7P;B 30A &1AB >34@ 434@ .
/304).+3 :43 '62+1'*+ $46(+6+/893- %C@ A0C14@4 C=3 48=E0=35@484 8=E42:6;PA4@ C=3 C<<8@8=64 D4@E4=34= 84 8=E42:6;PA4@ A>;;B4= E4== O A48= 84 .4@B4 8= 34@ +014;;4 14H8474= A827 0C5 @C=34 8=E42:6;PA4@ <8B 48=4< 0AAC=6AD4@= #8B4@ 27BC=6 "48=4 6@RO4@4= >34@ 7R74@4= 8=E42:6;PA4@ D4@E4=34= 84 42:4; :R==B4= H4@?;0BH4= %C@ 5@8A274A &1AB C=3 434@ 4
/304).+3 :43 '62+1'*+ *>10;3 34@ =70;B 8= 34= 8=E42:6;PA4@= 8= :C@H4= 1ABP=34= ;0A4= E8@5B =027 20 18A $8=CB4= U 384 +4=AEP7;4@ 1;481B 48=64A270;B4B %027 18A $8=CB4= 8= 34@ )4ABEP@<4 34A 02:>54=A :R==4= 384 8=E42:6;PA4@ 4=B=><<4= E4@34= .4== A84 ;P=64@4 /48B 8< 02:>54= 01:S7;4= E8@3 384 8;3C=6 D>= "48<4= C=3 384 =APC4@C=6 34@ $0@<4;034 645R@34@B 4= C=:B8>=AEP7;4@ 01A270;B4= %45 ,0 ,08(&-*.
462/+68+ +(+372/88+1 4;64=34 N14@A827B H486B 384 0@H48B4= D>= 34< /48B?C=:B 0= HC 34< 30A 0@6CB 8= 34= :0;B4= &54= 64AB4;;B E8@3 ')0+3 $3*65 #6%(+=3 60' ,08(,4( =+( (,9$35 DCC5A@ <1385B 13;2<538 ,9565B ->9E5AB1<2<538 9D=2<538 6<1385B 13;2<538 9D=2<538 C9565B ->9E5AB1<2<538 % % T T T T 2 T T 2 T T 13;2<538 % T T 2 T T 2 T T % T
84 5>;64=34 N14@A827B H486B 384 0@H48B4= D>= 34< /48B?C=:B 0= HC 34< 30A 0@6CB 8= 34= :0;B4= &54= 64AB4;;B E8@3 6/11+3 $3*65 #6%(+=3 =+( (,9$35 3,..456)( ,?1BC 2APD>5> .
::: 6.*1*26B.27*52&7.
