
7&*-*()&*%470034$)3*'5&/
%JUBQQBSBBUJTHFFOTQFFMHPFEFOEJFOUBMMFFOHFCSVJLUUFXPSEFOWPPSEPFMFJOEFO[PBMTCFTDISFWFO
JOEF[FHFCSVJLTBBOXJK[JOH-FFTEFPOEFSTUBBOEFWPPSTDISJGUFO[PSHWVMEJHEPPSWPPSEBUVEJU
BQQBSBBUJOHFCSVJLOFFNU
)PVEVXLJOEFSFOFOIVJTEJFSFOVJUEFCVVSUWBOEFBQQBSBUVVS)FUFOUIPVTJBTNFWBOLJOEFSFO
LBOMFJEFOUPUPOKVJTUHFCSVJLWBOIFUBQQBSBBU*OEJFOLJOEFSFOUPFTUFNNJOHLSJKHFOEJUBQQBSBBUUF
HFCSVJLFOEBOEJFOUNFOEFLJOEFSFOUFDPOUSPMFSFOFOJOTUSVDUJFTUFHFWFOPWFSIFUKVJTUFHFCSVJL
WBOIFUBQQBSBBU0OEFSHFFOHFWBMJTIFUBQQBSBBUUFHFCSVJLFOBMTTQFFMHPFE
3BBEQMFFHBMUJKEFFSTUVXBSUTWPPSEBUVEJUBQQBSBBUPGBOEFSFGJUOFTTBQQBSBUFOJOHFCSVJLOFFNU
%SBBHBMUJKEWFJMJHFFOHFNBLLFMJKLFLMFEJOHBMTVHFCSVJLNBBLUWBOGJUOFTTBQQBSBUVVS%SBBHCJK
WPPSLFVSTQPSUTDIPFOFOPGBFSPCJDTTDIPFOFO
*OEJFOV[JDIOJFUHPFEWPFMUPGBOEFSFLMBDIUFOLSJKHUEJFOUVPONJEEFMMJKLNFUEFPFGFOJOHUF
TUPQQFO6EJFOUUFWFOTUFTUPQQFOBMTVQJKOPGESVLPQVXHFXSJDIUFOWPFMU
;PSHEBUIFUBQQBSBBUKVJTUJTHF©OTUBMMFFSEWPPSEBUIFUJOHFCSVJLXPSEUHFOPNFO8FFTFS[FLFSWBO
EBUBMMFTDISPFWFOCPVUFOFONPFSFOPQEFKVJTUFXJK[F[JKOHFQMBBUTUFOWBTUHFESBBJE(FCSVJL
BMMFFOPOEFSEFMFOEJFEPPSEFJNQPSUFVSXPSEFOBBOCFWPMFOFO[JKONFFHFMFWFSE
(FCSVJLIFUBQQBSBBUOJFUJOEJFOIFUCFTDIBEJHEPGLBQPUJT
-FUJOIFUCJK[POEFSPQEFSFBDUJFWBOVXMJDIBBNOBHFCSVJL%VJ[FMJHIFJEHFFGUBBOEBUVUF
JOUFOTJFGNFUIFUBQQBSBBUCF[JHCFOUHFXFFTU"MTV[JDIEVJ[FMJHWPFMUHBEBOPQEFHSPOEMJHHFO
FOLPNOJFUFFSEFSPWFSFJOEUPUEBUV[JDIXFFSCFUFSWPFMU
(FCSVJLIFUBQQBSBBUBMUJKEPQFFOHMBEEFFOTDIPOFPOEFSHSPOE(FCSVJLIFUOPPJUCVJUFO
(FCSVJLHFFOPOEFSEFMFOEJFOJFUEPPSEFGBCSJLBOUXPSEFOBBOCFWPMFO
;PSHEBU[JDIHFFOTDIFSQFPCKFDUFOJOEFCVVSUWBOEJUGJUOFTTBQQBSBBUCFWJOEFO
8JKBEWJTFSFOHFIBOEJDBQUFPGNJOEFSWBMJEFQFSTPOFOEJUBQQBSBBUBMMFFOUFHFCSVJLFOJOCJK[JKOWBO
HFLXBMJGJDFFSEFCFHFMFJEFST
)FUBQQBSBBUEJFOUFFSTUTUJMUFTUBBOBMWPSFOTVIFUBQQBSBBUWFSMBBU
)FUNBYJNBBMUPFMBBUCBSFHFXJDIUPQEJUBQQBSBBUJTLH
1MBBUTIFUBQQBSBBUPQFFOTUBCJFMFFOWMBLLFPOEFSHSPOE;PSHFSWPPSEBUPQEFQMBBUTXBBSVIFU
BQQBSBBUOFFS[FUPQFOJOHFOWBOXBSNUFPGWFOUJMBUJFCSPOOFO/*&5HFCMPLLFFSEXPSEFO
"MMFQFSTPOFOEJFEF.JOJ#JLFHFCSVJLFOEJFOFOPQEFIPPHUFUF[JKOHFCSBDIUWBOEF
XBBSTDIVXJOHFOFOWFJMJHIFJETNBBUSFHFMFO
;PSHFSWPPSEBUVBBOBMMFLBOUFOSPOEPNIFUBQQBSBBU.SVJNUFIFFGU[PEBUVPOHFIJOEFSELVOU
USBJOFO
%SBBJVOJFUPNUFSXJKMVPQIFUBQQBSBBUBBOIFUUSBJOFOCFOU,JKLBMUJKESFDIUWPPSVVJU
8JKSBEFOVBBOFFONBUPOEFSIFUBQQBSBBUUFMFHHFOPNNPHFMJKLFTDIBEFBBOEFWMPFSUF
WPPSLPNFO
(FCSVJLIFUBQQBSBBUOJFUJOEJFOEFTUFLLFSIFUTOPFSPGBOEFSFPOEFSEFMFOCFTDIBEJHE[JKO
*OEJFOIFUOFUTOPFSCFTDIBEJHEJTNPFUVIFUMBUFOWFSWBOHFOEPPS7BOEFO#FSH1SPEVDUTFFOEPPS
7BOEFO#FSH1SPEVDUTHFBVUPSJTFFSETFSWJDFDFOUSVNPGQFSTPOFONFUWFSHFMJKLCBSFLXBMJGJDBUJFTPN
HFWBBSUFWPPSLPNFO
%JUBQQBSBBUJTOJFUCFEPFMEWPPSHFCSVJLEPPSQFSTPOFO XBBSPOEFSLJOEFSFONFUWFSNJOEFSEF
MJDIBNFMJKLF[JOUVJHMJKLFPGHFFTUFMJKLFWFSNPHFOTPGEJFHFCSFLBBOFSWBSJOHPGLFOOJTIFCCFOUFO[JK
JFNBOEEJFWFSBOUXPPSEFMJKLJTWPPSIVOWFJMJHIFJEUPF[JDIUPQIFOIPVEUPGIFOIFFGUVJUHFMFHEIPF
IFUBQQBSBBUEJFOUUFXPSEFOHFCSVJLU
8""34$)68*/(
3BBEQMFFHVXBSUTWPPSEBUVNFUPFGFOJOHFOCFHJOU&FOGSFRVFOUFOJOTQBOOFOEUSBJOJOHTQSPHSBNNB
NPFUFFSTUEPPSVXIVJTBSUTXPSEFOHPFEHFLFVSE%JUJTWPPSBMCFMBOHSJKLWPPSNFOTFOEJFKBBSPG
PVEFS[JKOPGNFOTFOEJFMJDIBNFMJKLFQSPCMFNFOIFCCFO-FFTEFHFIFMFHFCSVJLTBBOXJK[JOH[PSHWVMEJH
EPPSWPPSEBUVNFUEFUSBJOJOHCFHJOU8JK[JKOJOHFFOHFWBMWFSBOUXPPSEFMJKLWPPSQFSTPPOMJKLMFUTFMPG
MJDIBNFMJKLFLMBDIUFOEJF[JKOPOUTUBBOEPPSHFCSVJLWBOEJUBQQBSBBUFOLVOOFOEFSIBMWFOJFU
BBOTQSBLFMJKLXPSEFOHFTUFME#FXBBSEF[FJOTUSVDUJFT[PSHWVMEJH-FUTFMLBOPOUTUBBOEPPSJODPSSFDUPG