5: 95885;:? /51BC >454 535=25B
JHIDB:G 9:G>K6I>K: >C8DB: 6 ,:8JG>I>:H IG69>C< >C8DB:
:;:GG:9 8DBE:CH6I>DC 6HH:I G:IJGCH 7
"CK:HIB:CI 76C@>C< ;::H
"C8DB: ;GDB EG>C8>E6A >CK:HI>C< 6C9 L6GG6CIH
M
':I <6>C DC H6A: D; 7JH>C:HH 8 AA DI=:G CDC>CI:G:HI >C8DB: (I=:G CDC>CI:G:HI >C8DB:
U
- A?@;91> 01>5B-@5B1 5:/;91 5:/8A010 A:2-B;>-.81 B-8A-@5;: -06A?@91:@? ;2
95885;: -:0 95885;: 2;> @41 @C18B1 9;:@4? 1:010 1/19.1>
-:0 >1?<1/@5B18E -:0 - 2-B;>-.81 -06A?@91:@ ;2 95885;: 2;> @41 @C18B1 9;:@4? 1:010 1/19.1>
. ;9<1:?-@5;: 0121>>10 .E @41 ;><;>-@5;: ? ;225/1>? -:0 05>1/@;>? 5? 5:B1?@10 .-?10 ;: 5:B1?@91:@ ?181/@5;:? ;2 @41 ;225/1>? -:0 05>1/@;>?
:/;91 1->:10 ;: @41?1 -??1@? 5? >1<;>@10 5: :;:5:@1>1?@ 5:/;91 -:0 @41 ;22?1@@5:3 /4-:31 5: 0121>>10 /;9<1:?-@5;: <8-: 85-.585@51? 5? >1<;>@10 5: ?-8->51? -:0 .1:125@? 1D<1:?1
/ -5: ;: ?-81 ;2 @41 ;><;>-@5;: ? ( .A?5:1?? $?>9>D5B5CD H@5>C5C 5: 95885;:? /51BC >454 535=25B ,6A6G>:H 6C9 7:C:;>IH :ME:CH:
(JIH>9: EGD8:HH>C< ;:: :ME:CH: 6 (88JE6C8N :ME:CH: ,D;IL6G: :ME:CH: 6 FJ>EB:CI :ME:CH: 9K:GI>H>C< :ME:CH: " >CHJG6C8: :ME:CH: +:HIGJ8IJG>C< 8=6G<:H M U (I=:G CDC>CI:G:HI :ME:CH:H -DI6A CDC>CI:G:HI :ME:CH:H
- :/8A01? /8-??525/-@5;: -06A?@91:@? >18-@10 @; /;?@? 5:/A>>10 5: /8;A0 /;9>-:3191:@? ;2 95885;: 2;> @41 @C18B1 9;:@4? 1:010 1/19.1>
)41?1 -06A?@91:@? >10A/1 ;A@?501 <>;/1??5:3 211 1D<1:?1 -:0 5:/>1-?1 ?;2@C->1 1D<1:?1 0A1 @; @41 <>;?<1/@5B1 -0;<@5;: ;2 (* $;
1221/@5B1 !-:A->E
'DC>CI:G:HI :ME:CH:H >C8G:6H:9 B>AA>DC ID 7>AA>DC -=: 8=6C<: >C CDC>CI:G:HI :ME:CH:H L6H EG>B6G>AN 9J: ID >C8G:6H:H >C DE:G6I>DC6A ADHH:H
DJIH>9: EGD8:HH>C< ;:: :ME:CH: C:I D; 8A6HH>;>86I>DC 8=6C<: 6C9 " >CHJG6C8: :ME:CH:
E6GI>6AAN D;;H:I 7N 6 9:8G:6H: >C IG6K:A 6C9 :CI:GI6>CB:CI :ME:CH: ME:CH:H >C8JGG:9 9JG>C< >C8AJ9:9 6EEGDM>B6I:AN B>AA>DC G:A6I:9 ID (/"
EG>B6G>AN ;DG 8DBE:CH6I>DC 6C9 HI>E:C9H ID 8DAA:6I67A: 8DCIG>7JI>DCH
8A:6C>C< HJEEA>:H
E:GHDC6A EGDI:8I>K: :FJ>EB:CI 6C9 ))) I:8=CDAD:H 6C9 7:C:;>IH :ME:CH: L6H HI67A: 6I 7>AA>DC
G:;A:8I>C< ADL:G >C8:CI>K: 6C9 6CCJ6A HID8@ 76H:9 8DBE:CH6I>DC
BDHIAN D;;H:I 7N B:G>I >C8G:6H:H 6C9 =><=:G 9:;:GG:9 8DBE:CH6I>DC :ME:CH: D;;H:I >C CDC>CI:G:HI >C8DB: (JIH>9: EGD8:HH>C< ;:: :ME:CH:
C:I D; I=: B>AA>DC 8A6HH>;>86I>DC 8=6C<:
>C8G:6H:9 B>AA>DC
DG E:G8:CI
EG>B6G>AN 9J: ID KDAJB: 9G>K:C >C8G:6H:H >C C< :ME:CH:H I>:9 ID 86G9 ;:: G:K:CJ:H 6C9 >C8G:6H:9 BDGI<6<: 6EEA>86I>DC KDAJB:H
E6GI>6AAN D;;H:I 7N 9:8G:6H:H >C H:GK>8: ;::H 6HHD8>6I:9 L>I= 8G:9>I 6C9 8DAA:8I>DC " >CHJG6C8: :ME:CH: >C8G:6H:9 B>AA>DC
DG E:G8:CI
ID B>AA>DC
EG>B6G>AN 9J: ID =><=:G G>H@ 76H:9 6HH:HHB:CI ;::H (I=:G CDC>CI:G:HI :ME:CH:H >C8G:6H:9 B>AA>DC 6C9 >C8AJ9:9 >C8G:6H:H D; B>AA>DC >C DE:G6I>DC6A ADHH:H G:A6I:9 ID H:K:G6A JCG:A6I:9 :K:CIH
B>AA>DC >C DI=:G E:CH>DC 6C9 EDHIG:I>G:B:CI 7:C:;>I 8DHIH 6C9 B>AA>DC >C 8=6G>I67A: 8DCIG>7JI>DCH
E6GI>6AAN D;;H:I 7N 6 B>AA>DC G:9J8I>DC >C IG6K:A 6C9 :CI:GI6>CB:CI :ME:CH: G:A6I:9 ID I=: E6C9:B>8 >3?=5 *1H5C 1>4 (5<1D54 D5=C -=: EGDK>H>DC ;DG >C8DB: I6M:H L6H B>AA>DC >C
8DBE6G:9 ID B>AA>DC >C -=: B>AA>DC 9:8G:6H: >C I=: EGDK>H>DC ;DG >C8DB: I6M:H EG>B6G>AN G:;A:8I:9 ADL:G EG: I6M >C8DB: E6GI>6AAN D;;H:I 7N 6C B>AA>DC 9:8G:6H: >C I6M 7:C:;>IH ;GDB :BEADN:: HID8@ IG6CH68I>DCH ':I 9:;:GG:9 I6M 6HH:IH L:G: B>AA>DC 6I :8:B7:G
8DBE6G:9 ID B>AA>DC 6I :8:B7:G
+:;:G ID 'DI: ID I=: 8DCHDA>96I:9 ;>C6C8>6A HI6I:B:CIH ;DG >C;DGB6I>DC 67DJI I=: 8DBEDC:CIH D; C:I 9:;:GG:9 I6M 6HH:IH :;:GG:9 I6M 6HH:IH D; B>AA>DC L:G: :K6AJ6I:9 ;DG G:6A>O6I>DC 6C9 >I L6H 9:I:GB>C:9 I=6I 6 K6AJ6I>DC 6AADL6C8: D; B>AA>DC G:A6I:9 ID HI6I: C:I DE:G6I>C< ADHH 86GGN;DGL6G9H L6H C::9:9 6I 7DI= :8:B7:G
6C9 -=:H: 8DC8AJH>DCH L:G: 76H:9 DC