m +d3@e8ad?3f;a@a 8˛g@5f;a@ea>gf;a@ 4eb clojri> h y g y ... .lqf@b elt tb jrpq fkmrq qeb...
TRANSCRIPT
�� M +D3@E8AD?3F;A@�A8��G@5F;A@E
#73D@;@9�&4<75F;H7E
">�D89C�C53D9?>��I?E�G9<<�
�� B1@8�6E>3D9?>C�EC9>7�F5BD931<�1>4�8?B9J?>D1<�C896DC
��� B1@8�6E>3D9?>C�EC9>7�B56<53D9?>C�12?ED�D85 � � 1H9C�1>4�D85 �
��� �5D5B=9>5�G85D85B�1�6E>3D9?>�9C�5F5>��?44��?B�>59D85B�6B?=�9DC�7B1@8
��� B1@8�6E>3D9?>C�EC9>7�3?=@B5CC9?>C�1>4�CDB5D385C
��� �?=29>5�DB1>C6?B=1D9?>C
�;9GD7���� @OBAFQ���-FPHL��&IF@HO
7B >II HKLT QE>Q > CI>Q JFOOLO BK>?IBP RP QL PBB >K >@@RO>QB FJ>DB LC LROPBISBP >KA TE>QBSBO FP ?BEFKA RP� 7EBK TB QFIQ
QEB JFOOLO� QEB FJ>DBP TB PBB J>V PEFCQ ELOFWLKQ>IIV LO SBOQF@>IIV� "RQ TE>Q E>MMBKP TEBK TB ?BKA > CIBUF?IB JFOOLO�
,FHB > @>OKFS>I CRKELRPB JFOOLO� FQ MOBPBKQP RP TFQE > AFPQLOQBA FJ>DB LC LROPBISBP� PQOBQ@EBA LO @LJMOBPPBA ELOFWLKQ>IIV LO
SBOQF@>IIV� )K > PFJFI>O T>V� TB @>K AFPQLOQ LO QO>KPCLOJ J>QEBJ>QF@>I CRK@QFLKP QL ?BQQBO >A>MQ QEBJ QL ABP@OF?FKD L?GB@QP LO
MOL@BPPBP�FK�QEB�OB>I�TLOIA��)K�QEFP�PB@QFLK��TB�TFII�Q>HB�>�ILLH�>Q�PBSBO>I�HFKAP�LC�QO>KPCLOJ>QFLKP�
�D3B:;@9��G@5F;A@E�,E;@9�-7DF;53>�3@6��AD;LA@F3>�*:;8FE
/CQBK TEBK DFSBK > MOL?IBJ� TB QOV QL JLABI QEB P@BK>OFL RPFKD J>QEBJ>QF@P FK QEB CLOJ LC TLOAP� Q>?IBP� DO>MEP� >KA
BNR>QFLKP� /KB JBQELA TB @>K BJMILV FP QL >A>MQ QEB ?>PF@ DO>MEP LC QEB QLLIHFQ CRK@QFLKP QL ?RFIA KBT JLABIP CLO > DFSBK
P@BK>OFL� 4EBOB >OB PVPQBJ>QF@ T>VP QL >IQBO CRK@QFLKP QL @LKPQOR@Q >MMOLMOF>QB JLABIP CLO QEB MOL?IBJP TB >OB QOVFKD QL
PLISB�
67@F;8K;@9�-7DF;53>�*:;8FE
/KB PFJMIB HFKA LC QO>KPCLOJ>QFLK FKSLISBP PEFCQFKD QEB BKQFOB DO>ME LC > CRK@QFLK RM� ALTK� OFDEQ� LO IBCQ� 4EB PFJMIBPQ
PEFCQ FP > H7DF;53> E:;8F� JLSFKD QEB DO>ME RM LO ALTK� ?B@>RPB QEFP QO>KPCLOJ>QFLK FKSLISBP >AAFKD > MLPFQFSB LO KBD>QFSB
@LKPQ>KQ QL QEB CRK@QFLK� )K LQEBO TLOAP� TB >AA QEB P>JB @LKPQ>KQ QL QEB LRQMRQ S>IRB LC QEB CRK@QFLK OBD>OAIBPP LC QEB FKMRQ�
&LO�>�CRK@QFLK � � QEB�CRK@QFLK � � FP�PEFCQBA�SBOQF@>IIV � � RKFQP��3BB �;9GD7���� CLO�>K�BU>JMIB�
�81@D5B����E>3D9?>C � �
�;9GD7���� 6BOQF@>I�PEFCQ�?V � � LC�QEB�@R?B�OLLQ�CRK@QFLK
�
4L EBIM VLR SFPR>IFWB QEB @LK@BMQ LC > SBOQF@>I PEFCQ� @LKPFABO QE>Q � �4EBOBCLOB� � � FP BNRFS>IBKQ QL � �
%SBOV RKFQ LC � � FP OBMI>@BA ?V � � PL QEB G S>IRB FK@OB>PBP LO AB@OB>PBP ABMBKAFKD LK QEB S>IRB LC � �4EB OBPRIQ FP >
PEFCQ�RMT>OA�LO�ALTKT>OA�
-7DF;53>�*:;8F
'FSBK > CRK@QFLK > KBT CRK@QFLK TEBOB � FP > @LKPQ>KQ� FP > H7DF;53> E:;8F LC QEB CRK@QFLK
!II QEB LRQMRQ S>IRBP @E>KDB ?V RKFQP� )C FP MLPFQFSB� QEB DO>ME TFII PEFCQ RM� )C FP KBD>QFSB� QEB DO>ME TFII
PEFCQ�ALTK�
�H1=@<5����
�66;@9�3��A@EF3@F�FA�3��G@5F;A@
4L OBDRI>QB QBJMBO>QROB FK > DOBBK ?RFIAFKD� >FOCILT SBKQP KB>O QEB OLLC LMBK >KA @ILPB QEOLRDELRQ QEB A>V� �;9GD7
��� PELTP QEB >OB> LC LMBK SBKQP � � FK PNR>OB CBBQ QEOLRDELRQ QEB A>V FK ELROP >CQBO JFAKFDEQ� � �$ROFKD QEB
PRJJBO� QEB C>@FIFQFBP J>K>DBO AB@FABP QL QOV QL ?BQQBO OBDRI>QB QBJMBO>QROB ?V FK@OB>PFKD QEB >JLRKQ LC LMBK
SBKQP�?V����PNR>OB�CBBQ�QEOLRDELRQ�QEB�A>V�>KA�KFDEQ��3HBQ@E�>�DO>ME�LC�QEFP�KBT�CRK@QFLK�
�;9GD7����
*A>GF;A@
� � �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
7B @>K PHBQ@E > DO>ME LC QEFP KBT CRK@QFLK ?V >AAFKD �� QL B>@E LC QEB LRQMRQ S>IRBP LC QEB LOFDFK>I CRK@QFLK�
4EFP�TFII�E>SB�QEB�BCCB@Q�LC�PEFCQFKD�QEB�DO>ME�SBOQF@>IIV�RM��>P�PELTK�FK �;9GD7��� �
�;9GD7���
.LQF@B QE>Q FK �;9GD7 �� � CLO B>@E FKMRQ S>IRB� QEB LRQMRQ S>IRB E>P FK@OB>PBA ?V ��� PL FC TB @>II QEB KBT
CRK@QFLK � TB�@LRIA�TOFQB
4EFP KLQ>QFLK QBIIP RP QE>Q� CLO >KV S>IRB LC � � @>K ?B CLRKA ?V BS>IR>QFKD QEB CRK@QFLK � � >Q QEB P>JB FKMRQ
>KA QEBK >AAFKD �� QL QEB OBPRIQ� 4EFP ABCFKBP � � >P > QO>KPCLOJ>QFLK LC QEB CRK@QFLK � � FK QEFP @>PB > SBOQF@>I PEFCQ
RM �� RKFQP� .LQF@B QE>Q� TFQE > SBOQF@>I PEFCQ� QEB FKMRQ S>IRBP PQ>V QEB P>JB >KA LKIV QEB LRQMRQ S>IRBP @E>KDB�
3BB +34>7�����
� � �� �� �� ��
� � ��� ��� � �
�� �� ��� ��� �� ��
+34>7����
�;H7@�3�F34G>3D�8G@5F;A@��5D73F7�3�@7I�DAI�FA�D7BD7E7@F�3�H7DF;53>�E:;8F�
)ABKQFCV�QEB�LRQMRQ�OLT�LO�@LIRJK�
� $BQBOJFKB�QEB J>DKFQRAB LC�QEB�PEFCQ�
� !AA�QEB�PEFCQ�QL�QEB�S>IRB�FK�B>@E�LRQMRQ�@BII��!AA�>�MLPFQFSB�S>IRB�CLO�RM�LO�>�KBD>QFSB�S>IRB�CLO�ALTK�
�H1=@<5����
*:;8F;@9�3�+34G>3D��G@5F;A@�-7DF;53>>K
�81@D5B����E>3D9?>C � �
� �
!�CRK@QFLK � � FP�DFSBK�FK +34>7������#OB>QB�>�Q>?IB�CLO�QEB�CRK@QFLK �
� � � �
� � � ��
+34>7����
*A>GF;A@
4EB CLOJRI> � � QBIIP RP QE>Q TB @>K CFKA QEB LRQMRQ S>IRBP LC � � ?V PR?QO>@QFKD � COLJ QEB LRQMRQ
S>IRBP�LC � � &LO�BU>JMIB�
3R?QO>@QFKD���COLJ�B>@E � � S>IRB��TB�@>K�@LJMIBQB�>�Q>?IB�LC�S>IRBP�CLO � � >P�PELTK�FK +34>7�����
� � � �
� � � ��
m� � � �
+34>7����
�@3>KE;E
!P�TFQE�QEB�B>OIFBO�SBOQF@>I�PEFCQ��KLQF@B�QEB�FKMRQ�S>IRBP�PQ>V�QEB�P>JB�>KA�LKIV�QEB�LRQMRQ�S>IRBP�@E>KDB�
4EB CRK@QFLK � � DFSBP QEB EBFDEQ � � LC > ?>II FK JBQBOP QEOLTK RMT>OA COLJ QEB
DOLRKA >CQBO � � PB@LKAP� 3RMMLPB QEB ?>II T>P FKPQB>A QEOLTK COLJ QEB QLM LC > �� J ?RFIAFKD� 2BI>QB QEFP KBT
EBFDEQ�CRK@QFLK � � QL � � >KA�QEBK�CFKA�>�CLOJRI>�CLO �
67@F;8K;@9��AD;LA@F3>�*:;8FE
7B GRPQ P>T QE>Q QEB SBOQF@>I PEFCQ FP > @E>KDB QL QEB LRQMRQ� LO LRQPFAB� LC QEB CRK@QFLK� 7B TFII KLT ILLH >Q ELT @E>KDBP QL
FKMRQ� LK QEB FKPFAB LC QEB CRK@QFLK� @E>KDB FQP DO>ME >KA JB>KFKD� ! PEFCQ QL QEB FKMRQ OBPRIQP FK > JLSBJBKQ LC QEB DO>ME LC
QEB�CRK@QFLK�IBCQ�LO�OFDEQ�FK�TE>Q�FP�HKLTK�>P�> :AD;LA@F3>�E:;8F��PELTK�FK �;9GD7�����
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
�;9GD7���� (LOFWLKQ>I�PEFCQ�LC�QEB�CRK@QFLK � �.LQB
QE>Q � � PEFCQP�QEB�DO>ME�QL�QEB�IBCQ��QE>Q�FP��QLT>OAP
<35/B7D3 S>IRBP�LC �
&LO BU>JMIB� FC � � QEBK � � FP > KBT CRK@QFLK� %>@E FKMRQ FP OBAR@BA ?V � MOFLO QL PNR>OFKD QEB
CRK@QFLK� 4EB OBPRIQ FP QE>Q QEB DO>ME FP PEFCQBA � RKFQP QL QEB OFDEQ� ?B@>RPB TB TLRIA KBBA QL FK@OB>PB QEB MOFLO FKMRQ ?V �
RKFQP�QL�VFBIA�QEB�P>JB�LRQMRQ�S>IRB�>P�DFSBK�FK �
�AD;LA@F3>�*:;8F
'FSBK > CRK@QFLK � � > KBT CRK@QFLK � �TEBOB � � FP > @LKPQ>KQ� FP > :AD;LA@F3> E:;8F LC QEB CRK@QFLK � �
)C � � FP�MLPFQFSB��QEB�DO>ME�TFII�PEFCQ�OFDEQ��)C � � FP�KBD>QFSB��QEB�DO>ME�TFII�PEFCQ�IBCQ�
�H1=@<5���
�66;@9�3��A@EF3@F�FA�3@� @BGF
2BQROKFKD QL LRO ?RFIAFKD >FOCILT BU>JMIB COLJ �;9GD7 ���� PRMMLPB QE>Q FK >RQRJK QEB C>@FIFQFBP J>K>DBO
AB@FABP QE>Q QEB LOFDFK>I SBKQFKD MI>K PQ>OQP QLL I>QB� >KA T>KQP QL ?BDFK QEB BKQFOB SBKQFKD MOLDO>J � ELROP B>OIFBO�
3HBQ@E�>�DO>ME�LC�QEB�KBT�CRK@QFLK�
*A>GF;A@
7B�@>K�PBQ � � QL�?B�QEB�LOFDFK>I�MOLDO>J�>KA � � QL�?B�QEB�OBSFPBA�MOLDO>J�
)K QEB KBT DO>ME� >Q B>@E QFJB� QEB >FOCILT FP QEB P>JB >P QEB LOFDFK>I CRK@QFLK � �T>P � ELROP I>QBO� &LO BU>JMIB�
FK QEB LOFDFK>I CRK@QFLK � � QEB >FOCILT PQ>OQP QL @E>KDB >Q � >�J�� TEBOB>P CLO QEB CRK@QFLK � � QEB >FOCILT PQ>OQP QL
@E>KDB >Q � >�J� 4EB @LJM>O>?IB CRK@QFLK S>IRBP >OB � � 3BB �;9GD7 ���� .LQF@B >IPL QE>Q QEB SBKQP
CFOPQ�LMBKBA�QL � � >Q����>�J��RKABO�QEB�LOFDFK>I�MI>K��TEFIB�RKABO�QEB�KBT�MI>K�QEB�SBKQP�OB>@E � � >Q
��>�J���PL �
)K ?LQE @>PBP� TB PBB QE>Q� ?B@>RPB � � PQ>OQP � ELROP PLLKBO� � �4E>Q JB>KP QE>Q QEB P>JB LRQMRQ S>IRBP
>OB�OB>@EBA�TEBK �
�81@D5B����E>3D9?>C ��
�;9GD7����
�@3>KE;E
.LQB�QE>Q � � E>P�QEB�BCCB@Q�LC�PEFCQFKD�QEB�DO>ME�QL�QEB :34B�
(LOFWLKQ>I @E>KDBP LO hFKPFAB @E>KDBPi >CCB@Q QEB ALJ>FK LC > CRK@QFLK QEB FKMRQ FKPQB>A LC QEB O>KDB >KA
LCQBK PBBJ @LRKQBOFKQRFQFSB� 4EB KBT CRK@QFLK � � RPBP QEB P>JB LRQMRQP >P � � ?RQ J>Q@EBP QELPB LRQMRQP QL
FKMRQP � ELROP B>OIFBO QE>K QELPB LC � � 3>FA >KLQEBO T>V� TB JRPQ >AA � ELROP QL QEB FKMRQ LC � � QL CFKA QEB
@LOOBPMLKAFKD�LRQMRQ�CLO
�;H7@�3�F34G>3D�8G@5F;A@��5D73F7�3�@7I�DAI�FA�D7BD7E7@F�3�:AD;LA@F3>�E:;8F�
)ABKQFCV�QEB�FKMRQ�OLT�LO�@LIRJK�
� $BQBOJFKB�QEB�J>DKFQRAB�LC�QEB�PEFCQ�
� !AA�QEB�PEFCQ�QL�QEB�S>IRB�FK�B>@E�FKMRQ�@BII�
�H1=@<5����
*:;8F;@9�3�+34G>3D��G@5F;A@��AD;LA@F3>>K
!�CRK@QFLK � � FP�DFSBK�FK +34>7������#OB>QB�>�Q>?IB�CLO�QEB�CRK@QFLK �
� � � �
� � � ��
+34>7����
*A>GF;A@
4EB CLOJRI> � � QBIIP RP QE>Q QEB LRQMRQ S>IRBP LC � � >OB QEB P>JB >P QEB LRQMRQ S>IRB LC � � TEBK QEB
FKMRQ S>IRB FP � IBPP QE>K QEB LOFDFK>I S>IRB� &LO BU>JMIB� TB HKLT QE>Q � �4L DBQ QEB P>JB LRQMRQ COLJ
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
QEB CRK@QFLK � �TB TFII KBBA >K FKMRQ S>IRB QE>Q FP � :/@53@� 7B FKMRQ > S>IRB QE>Q FP � I>ODBO CLO � � ?B@>RPB
QEB�CRK@QFLK�Q>HBP���>T>V�?BCLOB�BS>IR>QFKD�QEB�CRK@QFLK �
7B�@LKQFKRB�TFQE�QEB�LQEBO�S>IRBP�QL�@OB>QB +34>7�����
� � � ��
� � � �
� � � ��
� � � ��
+34>7����
4EB OBPRIQ FP QE>Q QEB CRK@QFLK � � E>P ?BBK PEFCQBA QL QEB OFDEQ ?V �� .LQF@B QEB LRQMRQ S>IRBP CLO � � OBJ>FK
QEB P>JB >P QEB LRQMRQ S>IRBP CLO � � ?RQ QEB @LOOBPMLKAFKD FKMRQ S>IRBP� � � E>SB PEFCQBA QL QEB OFDEQ ?V ��
3MB@FCF@>IIV����PEFCQBA�QL������PEFCQBA�QL������PEFCQBA�QL����>KA���PEFCQBA�QL����
�@3>KE;E
�;9GD7���� OBMOBPBKQP�?LQE�LC�QEB�CRK@QFLKP��7B�@>K�PBB�QEB�ELOFWLKQ>I�PEFCQ�FK�B>@E�MLFKQ�
�81@D5B����E>3D9?>C ���
�H1=@<5����
67@F;8K;@9�3��AD;LA@F3>�*:;8F�A8�3�+AA>=;F��G@5F;A@
�;9GD7 ��� OBMOBPBKQP > QO>KPCLOJ>QFLK LC QEB QLLIHFQ CRK@QFLK � �2BI>QB QEFP KBT CRK@QFLK � � QL
� � >KA�QEBK�CFKA�>�CLOJRI>�CLO �
�;9GD7����
*A>GF;A@
.LQF@B QE>Q QEB DO>ME FP FABKQF@>I FK PE>MB QL QEB � � CRK@QFLK� ?RQ QEB F�S>IRBP >OB PEFCQBA QL QEB OFDEQ �
RKFQP� 4EB SBOQBU RPBA QL ?B >Q ���� ?RQ KLT QEB SBOQBU FP >Q ���� 4EB DO>ME FP QEB ?>PF@ NR>AO>QF@ CRK@QFLK
PEFCQBA���RKFQP�QL�QEB�OFDEQ��PL
.LQF@B ELT TB JRPQ FKMRQ QEB S>IRB � � QL DBQ QEB LRQMRQ S>IRB � � QEB F S>IRBP JRPQ ?B � RKFQP I>ODBO
?B@>RPB LC QEB PEFCQ QL QEB OFDEQ ?V � RKFQP� 7B @>K QEBK RPB QEB ABCFKFQFLK LC QEB � � CRK@QFLK QL TOFQB > CLOJRI>
CLO � � ?V�BS>IR>QFKD �
�@3>KE;E
4L ABQBOJFKB TEBQEBO QEB PEFCQ FP � � LO � � @LKPFABO > PFKDIB OBCBOBK@B MLFKQ LK QEB DO>ME� &LO > NR>AO>QF@�
ILLHFKD >Q QEB SBOQBU MLFKQ FP @LKSBKFBKQ� )K QEB LOFDFK>I CRK@QFLK� � � )K LRO PEFCQBA CRK@QFLK� � �
4L L?Q>FK QEB LRQMRQ S>IRB LC � COLJ QEB CRK@QFLK � �TB KBBA QL AB@FAB TEBQEBO > MIRP LO > JFKRP PFDK TFII TLOH
QL�P>QFPCV � � &LO�QEFP�QL�TLOH��TB�TFII�KBBA�QL AC0B@/1B ��RKFQP�COLJ�LRO�FKMRQ�S>IRBP�
�H1=@<5����
@F7DBD7F;@9��AD;LA@F3>�H7DEGE�-7DF;53>�*:;8FE
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
�
4EB CRK@QFLK � � DFSBP QEB KRJ?BO LC D>IILKP LC D>P OBNRFOBA QL AOFSB � �JFIBP� )KQBOMOBQ � � >KA
�
*A>GF;A@
� @>K ?B FKQBOMOBQBA >P >AAFKD �� QL QEB LRQMRQ� D>IILKP� 4EFP FP QEB D>P OBNRFOBA QL AOFSB � �JFIBP� MIRP
>KLQEBO����D>IILKP�LC�D>P��4EB�DO>ME�TLRIA�FKAF@>QB�>�SBOQF@>I�PEFCQ�
� @>K ?B FKQBOMOBQBA >P >AAFKD �� QL QEB FKMRQ� JFIBP� 3L QEFP FP QEB KRJ?BO LC D>IILKP LC D>P OBNRFOBA QL
AOFSB����JFIBP�JLOB�QE>K � �JFIBP��4EB�DO>ME�TLRIA�FKAF@>QB�>�ELOFWLKQ>I�PEFCQ�
'FSBK QEB CRK@QFLK � � DO>ME QEB LOFDFK>I CRK@QFLK � � >KA QEB QO>KPCLOJ>QFLK
� � LK QEB P>JB >UBP� )P QEFP > ELOFWLKQ>I LO > SBOQF@>I PEFCQ� 7EF@E T>V FP QEB DO>ME PEFCQBA >KA ?V
ELT�J>KV�RKFQP�
�A?4;@;@9�-7DF;53>�3@6��AD;LA@F3>�*:;8FE
.LT QE>Q TB E>SB QTL QO>KPCLOJ>QFLKP� TB @>K @LJ?FKB QEBJ� 6BOQF@>I PEFCQP >OB LRQPFAB @E>KDBP QE>Q >CCB@Q QEB LRQMRQ G
S>IRBP >KA PEFCQ QEB CRK@QFLK RM LO ALTK� (LOFWLKQ>I PEFCQP >OB FKPFAB @E>KDBP QE>Q >CCB@Q QEB FKMRQ F S>IRBP >KA PEFCQ QEB
CRK@QFLK IBCQ LO OFDEQ� #LJ?FKFKD QEB QTL QVMBP LC PEFCQP TFII @>RPB QEB DO>ME LC > CRK@QFLK QL PEFCQ RM LO ALTK /<2 IBCQ LO
OFDEQ�
�;H7@�3�8G@5F;A@�3@6�4AF:�3�H7DF;53>�3@6�3�:AD;LA@F3>�E:;8F��E=7F5:�F:7�9D3B:�
)ABKQFCV�QEB�SBOQF@>I�>KA�ELOFWLKQ>I�PEFCQP�COLJ�QEB�CLOJRI>�
� 4EB SBOQF@>I PEFCQ OBPRIQP COLJ > @LKPQ>KQ >AABA QL QEB LRQMRQ� -LSB QEB DO>ME RM CLO > MLPFQFSB @LKPQ>KQ
>KA�ALTK�CLO�>�KBD>QFSB�@LKPQ>KQ�
� 4EB ELOFWLKQ>I PEFCQ OBPRIQP COLJ > @LKPQ>KQ >AABA QL QEB FKMRQ� -LSB QEB DO>ME IBCQ CLO > MLPFQFSB @LKPQ>KQ
>KA�OFDEQ�CLO�>�KBD>QFSB�@LKPQ>KQ�
� !MMIV�QEB�PEFCQP�QL�QEB�DO>ME�FK�BFQEBO�LOABO�
�H1=@<5����
�D3B:;@9��A?4;@76�-7DF;53>�3@6��AD;LA@F3>�*:;8FE
'FSBK � � PHBQ@E�>�DO>ME�LC �
*A>GF;A@
4EB CRK@QFLK � � FP LRO QLLIHFQ >?PLIRQB S>IRB CRK@QFLK� 7B HKLT QE>Q QEFP DO>ME E>P > 6 PE>MB� TFQE QEB MLFKQ >Q QEB
LOFDFK� 4EB DO>ME LC � � E>P QO>KPCLOJBA � � FK QTL T>VP� � � FP > @E>KDB LK QEB FKPFAB LC QEB CRK@QFLK� DFSFKD
> ELOFWLKQ>I PEFCQ IBCQ ?V �� >KA QEB PR?QO>@QFLK ?V � FK � � FP > @E>KDB QL QEB LRQPFAB LC QEB CRK@QFLK�
DFSFKD�>�SBOQF@>I�PEFCQ�ALTK�?V����4EB�QO>KPCLOJ>QFLK�LC�QEB�DO>ME�FP�FIIRPQO>QBA�FK �;9GD7�����
,BQ�RP�CLIILT�LKB�MLFKQ�LC�QEB�DO>ME�LC �
j 4EB�MLFKQ FP�QO>KPCLOJBA�CFOPQ�?V�PEFCQFKD�IBCQ���RKFQ�
�81@D5B����E>3D9?>C ���
� �
j 4EB�MLFKQ FP�QO>KPCLOJBA�KBUQ�?V�PEFCQFKD�ALTK���RKFQP�
�;9GD7����
�;9GD7���� PELTP�QEB�DO>ME�LC �
�;9GD7����
'FSBK � � PHBQ@E�>�DO>ME�LC �
�H1=@<5����
67@F;8K;@9��A?4;@76�-7DF;53>�3@6��AD;LA@F3>�*:;8FE
7OFQB > CLOJRI> CLO QEB DO>ME PELTK FK �;9GD7 ���� TEF@E FP > QO>KPCLOJ>QFLK LC QEB QLLIHFQ PNR>OB OLLQ CRK@QFLK�
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
� �
�;9GD7����
*A>GF;A@
4EB DO>ME LC QEB QLLIHFQ CRK@QFLK PQ>OQP >Q QEB LOFDFK� PL QEFP DO>ME E>P ?BBK PEFCQBA � QL QEB OFDEQ >KA RM �� )K
CRK@QFLK�KLQ>QFLK��TB�@LRIA�TOFQB�QE>Q�>P
5PFKD�QEB�CLOJRI>�CLO�QEB�PNR>OB�OLLQ�CRK@QFLK��TB�@>K�TOFQB
�@3>KE;E
.LQB QE>Q QEFP QO>KPCLOJ>QFLK E>P @E>KDBA QEB ALJ>FK >KA O>KDB LC QEB CRK@QFLK� 4EFP KBT DO>ME E>P ALJ>FK
� � >KA�O>KDB �
7OFQB > CLOJRI> CLO > QO>KPCLOJ>QFLK LC QEB QLLIHFQ OB@FMOL@>I CRK@QFLK � � QE>Q PEFCQP QEB CRK@QFLKgP
DO>ME�LKB�RKFQ�QL�QEB�OFDEQ�>KA�LKB�RKFQ�RM�
�D3B:;@9��G@5F;A@E�,E;@9�)78>75F;A@E�34AGF�F:7��J7E
!KLQEBO QO>KPCLOJ>QFLK QE>Q @>K ?B >MMIFBA QL > CRK@QFLK FP > OBCIB@QFLK LSBO QEB F LO G >UFP� ! H7DF;53> D78>75F;A@ OBCIB@QP
> DO>ME SBOQF@>IIV >@OLPP QEB F >UFP� TEFIB > :AD;LA@F3> D78>75F;A@ OBCIB@QP > DO>ME ELOFWLKQ>IIV >@OLPP QEB G >UFP� 4EB
OBCIB@QFLKP�>OB�PELTK�FK �;9GD7�����
�81@D5B����E>3D9?>C ���
�;9GD7���� 6BOQF@>I�>KA�ELOFWLKQ>I�OBCIB@QFLKP�LC�>�CRK@QFLK�
.LQF@B QE>Q QEB SBOQF@>I OBCIB@QFLK MOLAR@BP > KBT DO>ME QE>Q FP > JFOOLO FJ>DB LC QEB ?>PB LO LOFDFK>I DO>ME >?LRQ QEB F >UFP�
4EB�ELOFWLKQ>I�OBCIB@QFLK�MOLAR@BP�>�KBT�DO>ME�QE>Q�FP�>�JFOOLO�FJ>DB�LC�QEB�?>PB�LO�LOFDFK>I�DO>ME�>?LRQ�QEB G >UFP�
)78>75F;A@E
'FSBK > CRK@QFLK � > KBT CRK@QFLK � � FP > H7DF;53> D78>75F;A@ LC QEB CRK@QFLK � � PLJBQFJBP @>IIBA
>�OBCIB@QFLK�>?LRQ�LO�LSBO��LO�QEOLRDE�QEB F >UFP�
'FSBK > CRK@QFLK � � > KBT CRK@QFLK � � FP > :AD;LA@F3> D78>75F;A@ LC QEB CRK@QFLK � � PLJBQFJBP
@>IIBA�>�OBCIB@QFLK�>?LRQ�QEB G >UFP�
�;H7@�3�8G@5F;A@��D78>75F�F:7�9D3B:�4AF:�H7DF;53>>K�3@6�:AD;LA@F3>>K�
-RIQFMIV >II LRQMRQP ?V e� CLO > SBOQF@>I OBCIB@QFLK� 4EB KBT DO>ME FP > OBCIB@QFLK LC QEB LOFDFK>I DO>ME
>?LRQ�QEB F >UFP�
� -RIQFMIV >II FKMRQP ?V e� CLO > ELOFWLKQ>I OBCIB@QFLK� 4EB KBT DO>ME FP > OBCIB@QFLK LC QEB LOFDFK>I DO>ME
>?LRQ�QEB G >UFP�
�H1=@<5����
)78>75F;@9�3��D3B:��AD;LA@F3>>K�3@6�-7DF;53>>K
2BCIB@Q�QEB�DO>ME�LC � >�SBOQF@>IIV�>KA�?�ELOFWLKQ>IIV�
*A>GF;A@
>� 2BCIB@QFKD QEB DO>ME SBOQF@>IIV JB>KP QE>Q B>@E LRQMRQ S>IRB TFII ?B OBCIB@QBA LSBO QEB ELOFWLKQ>I B�>UFP >P
PELTK�FK �;9GD7�����
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
� � �
�;9GD7���� 6BOQF@>I�OBCIB@QFLK�LC�QEB�PNR>OB�OLLQ�CRK@QFLK
"B@>RPB�B>@E�LRQMRQ�S>IRB�FP�QEB�LMMLPFQB�LC�QEB�LOFDFK>I�LRQMRQ�S>IRB��TB�@>K�TOFQB
.LQF@B QE>Q QEFP FP >K LRQPFAB @E>KDB� LO SBOQF@>I PEFCQ� QE>Q >CCB@QP QEB LRQMRQ � � S>IRBP� PL QEB KBD>QFSB
PFDK�?BILKDP�LRQPFAB�LC�QEB�CRK@QFLK�
?� 2BCIB@QFKD ELOFWLKQ>IIV JB>KP QE>Q B>@E FKMRQ S>IRB TFII ?B OBCIB@QBA LSBO QEB SBOQF@>I >UFP >P PELTK FK
�;9GD7��� �
�;9GD7��� (LOFWLKQ>I�OBCIB@QFLK�LC�QEB�PNR>OB�OLLQ�CRK@QFLK
"B@>RPB�B>@E�FKMRQ�S>IRB�FP�QEB�LMMLPFQB�LC�QEB�LOFDFK>I�FKMRQ�S>IRB��TB�@>K�TOFQB
�81@D5B����E>3D9?>C ���
� �
.LQF@B QE>Q QEFP FP >K FKPFAB @E>KDB LO ELOFWLKQ>I @E>KDB QE>Q >CCB@QP QEB FKMRQ S>IRBP� PL QEB KBD>QFSB PFDK
FP�LK�QEB�FKPFAB�LC�QEB�CRK@QFLK�
.LQB QE>Q QEBPB QO>KPCLOJ>QFLKP @>K >CCB@Q QEB ALJ>FK >KA O>KDB LC QEB CRK@QFLKP� 7EFIB QEB LOFDFK>I
PNR>OB OLLQ CRK@QFLK E>P ALJ>FK � � >KA O>KDB � � QEB SBOQF@>I OBCIB@QFLK DFSBP QEB � �
CRK@QFLK�QEB�O>KDB � >KA�QEB�ELOFWLKQ>I�OBCIB@QFLK�DFSBP�QEB � � CRK@QFLK�QEB�ALJ>FK �
2BCIB@Q�QEB�DO>ME�LC � >�SBOQF@>IIV�>KA�?�ELOFWLKQ>IIV�
�H1=@<5����
)78>75F;@9�3�+34G>3D��G@5F;A@��AD;LA@F3>>K�3@6�-7DF;53>>K
!�CRK@QFLK � � FP�DFSBK�>P +34>7������#OB>QB�>�Q>?IB�CLO�QEB�CRK@QFLKP�?BILT�
>� �
?� �
� � � �
� � � ��
+34>7����
*A>GF;A@
>� &LO � � QEB KBD>QFSB PFDK LRQPFAB QEB CRK@QFLK FKAF@>QBP > SBOQF@>I OBCIB@QFLK� PL QEB F S>IRBP PQ>V QEB
P>JB�>KA�B>@E�LRQMRQ�S>IRB�TFII�?B�QEB�LMMLPFQB�LC�QEB�LOFDFK>I�LRQMRQ�S>IRB��3BB +34>7��� �
� � � �
� � e� e� e� e��
+34>7���
?� &LO � � QEB KBD>QFSB PFDK FKPFAB QEB CRK@QFLK FKAF@>QBP > ELOFWLKQ>I OBCIB@QFLK� PL B>@E FKMRQ S>IRB TFII
?B QEB LMMLPFQB LC QEB LOFDFK>I FKMRQ S>IRB >KA QEB � � S>IRBP PQ>V QEB P>JB >P QEB � � S>IRBP� 3BB
+34>7�����
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
� �
m� m� m� m�
� � � ��
+34>7����
!�CRK@QFLK � � FP�DFSBK�>P +34>7������#OB>QB�>�Q>?IB�CLO�QEB�CRK@QFLKP�?BILT�
>�
?�
m� � � �
� �� �� ��
+34>7����
�H1=@<5����
�BB>K;@9�3�#73D@;@9�$A67>��CG3F;A@
! @LJJLK JLABI CLO IB>OKFKD E>P >K BNR>QFLK PFJFI>O QL � TEBOB FP QEB MBO@BKQ>DB LC
J>PQBOV QE>Q @>K ?B >@EFBSBA >CQBO MO>@QF@B PBPPFLKP� 4EFP FP > QO>KPCLOJ>QFLK LC QEB CRK@QFLK PELTK
FK �;9GD7������3HBQ@E�>�DO>ME�LC
�81@D5B����E>3D9?>C ��
�;9GD7����
*A>GF;A@
4EFP�BNR>QFLK�@LJ?FKBP�QEOBB�QO>KPCLOJ>QFLKP�FKQL�LKB�BNR>QFLK�
j !�ELOFWLKQ>I�OBCIB@QFLK�
j !�SBOQF@>I�OBCIB@QFLK� �
j !�SBOQF@>I�PEFCQ� �
7B @>K PHBQ@E > DO>ME ?V >MMIVFKD QEBPB QO>KPCLOJ>QFLKP LKB >Q > QFJB QL QEB LOFDFK>I CRK@QFLK� ,BQ RP CLIILT QTL
MLFKQP�QEOLRDE�B>@E�LC�QEB�QEOBB�QO>KPCLOJ>QFLKP��7B�TFII�@ELLPB�QEB�MLFKQP������>KA������
�� &FOPQ��TB�>MMIV�>�ELOFWLKQ>I�OBCIB@QFLK�������e�����
�� 4EBK��TB�>MMIV�>�SBOQF@>I�OBCIB@QFLK�����m�����e��
�� &FK>IIV��TB�>MMIV�>�SBOQF@>I�PEFCQ������������
4EFP�JB>KP�QE>Q�QEB�LOFDFK>I�MLFKQP������>KA�����?B@LJB�����>KA�����>CQBO�TB�>MMIV�QEB�QO>KPCLOJ>QFLKP�
)K �;9GD7 ���� QEB CFOPQ DO>ME OBPRIQP COLJ > ELOFWLKQ>I OBCIB@QFLK� 4EB PB@LKA OBPRIQP COLJ > SBOQF@>I OBCIB@QFLK�
4EB�QEFOA�OBPRIQP�COLJ�>�SBOQF@>I�PEFCQ�RM���RKFQ�
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
� �
�;9GD7����
�@3>KE;E
!P�>�JLABI�CLO�IB>OKFKD��QEFP�CRK@QFLK�TLRIA�?B�IFJFQBA�QL�>�ALJ>FK�LC � �TFQE�@LOOBPMLKAFKD�O>KDB �
'FSBK QEB QLLIHFQ CRK@QFLK � � DO>ME � � >KA � �4>HB KLQB LC >KV
PROMOFPFKD�?BE>SFLO�CLO�QEBPB�CRK@QFLKP�
�7F7D?;@;@9��H7@�3@6�&66��G@5F;A@E
3LJB CRK@QFLKP BUEF?FQ PVJJBQOV PL QE>Q OBCIB@QFLKP OBPRIQ FK QEB LOFDFK>I DO>ME� &LO BU>JMIB� ELOFWLKQ>IIV OBCIB@QFKD QEB
QLLIHFQ CRK@QFLKP LO TFII OBPRIQ FK QEB LOFDFK>I DO>ME� 7B P>V QE>Q QEBPB QVMBP LC DO>MEP >OB PVJJBQOF@
>?LRQ�QEB G >UFP��!�CRK@QFLK�TELPB�DO>ME�FP�PVJJBQOF@�>?LRQ�QEB G >UFP�FP�@>IIBA�>K 7H7@�8G@5F;A@�
)C QEB DO>MEP LC � � LO � �TBOB OBCIB@QBA LSBO 0=B6 >UBP� QEB OBPRIQ TLRIA ?B QEB LOFDFK>I DO>ME� >P PELTK FK
�;9GD7�����
�81@D5B����E>3D9?>C ���
�;9GD7���� >�4EB�@R?F@�QLLIHFQ�CRK@QFLK�?�(LOFWLKQ>I�OBCIB@QFLK�LC�QEB�@R?F@�QLLIHFQ�CRK@QFLK�@�(LOFWLKQ>I�>KA�SBOQF@>I
OBCIB@QFLKP�OBMOLAR@B�QEB�LOFDFK>I�@R?F@�CRK@QFLK�
7B P>V QE>Q QEBPB DO>MEP >OB PVJJBQOF@ >?LRQ QEB LOFDFK� ! CRK@QFLK TFQE > DO>ME QE>Q FP PVJJBQOF@ >?LRQ QEB LOFDFK FP @>IIBA
>K A66�8G@5F;A@�
.LQB� ! CRK@QFLK @>K ?B KBFQEBO BSBK KLO LAA FC FQ ALBP KLQ BUEF?FQ BFQEBO PVJJBQOV� &LO BU>JMIB� � � FP KBFQEBO BSBK
KLO�LAA��!IPL��QEB�LKIV�CRK@QFLK�QE>Q�FP�?LQE�BSBK�>KA�LAA�FP�QEB�@LKPQ>KQ�CRK@QFLK �
�H7@�3@6�&66��G@5F;A@E
!�CRK@QFLK�FP�@>IIBA�>K 7H7@�8G@5F;A@ FC�CLO�BSBOV�FKMRQ �
4EB�DO>ME�LC�>K�BSBK�CRK@QFLK�FP�PVJJBQOF@�>?LRQ�QEB >UFP�
!�CRK@QFLK�FP�@>IIBA�>K A66�8G@5F;A@ FC�CLO�BSBOV�FKMRQ �
4EB�DO>ME�LC�>K�LAA�CRK@QFLK�FP�PVJJBQOF@�>?LRQ�QEB�LOFDFK�
�;H7@�F:7�8AD?G>3�8AD�3�8G@5F;A@��67F7D?;@7�;8�F:7�8G@5F;A@�;E�7H7@��A66��AD�@7;F:7D�
$BQBOJFKB�TEBQEBO�QEB�CRK@QFLK�P>QFPCFBP � � )C�FQ�ALBP��FQ�FP�BSBK�
� $BQBOJFKB�TEBQEBO�QEB�CRK@QFLK�P>QFPCFBP � � )C�FQ�ALBP��FQ�FP�LAA�
� )C�QEB�CRK@QFLK�ALBP�KLQ�P>QFPCV�BFQEBO�ORIB��FQ�FP�KBFQEBO�BSBK�KLO�LAA�
�H1=@<5����
�7F7D?;@;@9�I:7F:7D�3��G@5F;A@� E��H7@��&66��AD�%7;F:7D
)P�QEB�CRK@QFLK � � BSBK��LAA��LO�KBFQEBO�
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
� �
*A>GF;A@
7FQELRQ ILLHFKD >Q > DO>ME� TB @>K ABQBOJFKB TEBQEBO QEB CRK@QFLK FP BSBK LO LAA ?V CFKAFKD CLOJRI>P CLO QEB
OBCIB@QFLKP�>KA�ABQBOJFKFKD�FC�QEBV�OBQROK�RP�QL�QEB�LOFDFK>I�CRK@QFLK��,BQgP�?BDFK�TFQE�QEB�ORIB�CLO�BSBK�CRK@QFLKP�
4EFP ALBP KLQ OBQROK RP QL QEB LOFDFK>I CRK@QFLK� PL QEFP CRK@QFLK FP KLQ BSBK� 7B @>K KLT QBPQ QEB ORIB CLO LAA
CRK@QFLKP�
"B@>RPB � � QEFP�FP�>K�LAA�CRK@QFLK�
�@3>KE;E
#LKPFABO QEB DO>ME LC � � FK �;9GD7 ���� .LQF@B QE>Q QEB DO>ME FP PVJJBQOF@ >?LRQ QEB LOFDFK� &LO BSBOV MLFKQ
� � LK QEB DO>ME� QEB @LOOBPMLKAFKD MLFKQ � � FP >IPL LK QEB DO>ME� &LO BU>JMIB� �� � FP LK QEB DO>ME
LC � � >KA�QEB�@LOOBPMLKAFKD�MLFKQ FP�>IPL�LK�QEB�DO>ME�
�;9GD7����
)P�QEB�CRK@QFLK � � BSBK��LAA��LO�KBFQEBO�
�D3B:;@9��G@5F;A@E�,E;@9�*FD7F5:7E�3@6��A?BD7EE;A@E
!AAFKD > @LKPQ>KQ QL QEB FKMRQP LO LRQMRQP LC > CRK@QFLK @E>KDBA QEB MLPFQFLK LC > DO>ME TFQE OBPMB@Q QL QEB >UBP� ?RQ FQ AFA
KLQ�>CCB@Q�QEB�PE>MB�LC�>�DO>ME��7B�KLT�BUMILOB�QEB�BCCB@QP�LC�JRIQFMIVFKD�QEB�FKMRQP�LO�LRQMRQP�?V�PLJB�NR>KQFQV�
7B @>K QO>KPCLOJ QEB FKPFAB FKMRQ S>IRBP LC > CRK@QFLK LO TB @>K QO>KPCLOJ QEB LRQPFAB LRQMRQ S>IRBP LC > CRK@QFLK� %>@E
@E>KDB�E>P�>�PMB@FCF@�BCCB@Q�QE>Q�@>K�?B�PBBK�DO>MEF@>IIV�
�81@D5B����E>3D9?>C ���
-7DF;53>�*FD7F5:7E�3@6��A?BD7EE;A@E
7EBK TB JRIQFMIV > CRK@QFLK ?V > MLPFQFSB @LKPQ>KQ� TB DBQ > CRK@QFLK TELPB DO>ME FP PQOBQ@EBA LO @LJMOBPPBA SBOQF@>IIV
FK OBI>QFLK QL QEB DO>ME LC QEB LOFDFK>I CRK@QFLK� )C QEB @LKPQ>KQ FP DOB>QBO QE>K �� TB DBQ > H7DF;53> EFD7F5:� FC QEB @LKPQ>KQ FP
?BQTBBK � >KA �� TB DBQ > H7DF;53> 5A?BD7EE;A@� �;9GD7 ��� PELTP > CRK@QFLK JRIQFMIFBA ?V @LKPQ>KQ C>@QLOP � >KA ���
>KA�QEB�OBPRIQFKD�SBOQF@>I�PQOBQ@E�>KA�@LJMOBPPFLK�
�;9GD7���� 6BOQF@>I�PQOBQ@E�>KA�@LJMOBPPFLK
-7DF;53>�*FD7F5:7E�3@6��A?BD7EE;A@E
'FSBK > CRK@QFLK � � > KBT CRK@QFLK � �TEBOB � � FP > @LKPQ>KQ� FP > H7DF;53> EFD7F5: LO H7DF;53>
5A?BD7EE;A@ LC�QEB�CRK@QFLK �
Q )C � � QEBK�QEB�DO>ME�TFII�?B�PQOBQ@EBA�
Q )C � � QEBK�QEB�DO>ME�TFII�?B�@LJMOBPPBA�
Q )C � � QEBK�QEBOB�TFII�?B�@LJ?FK>QFLK�LC�>�SBOQF@>I�PQOBQ@E�LO�@LJMOBPPFLK�TFQE�>�SBOQF@>I�OBCIB@QFLK�
�;H7@�3�8G@5F;A@��9D3B:�;FE�H7DF;53>�EFD7F5:�
)ABKQFCV�QEB�S>IRB�LC �
� -RIQFMIV�>II�O>KDB�S>IRBP�?V �
� )C �� �� QEB�DO>ME�FP�PQOBQ@EBA�?V�>�C>@QLO�LC �
)C � � QEB�DO>ME�FP�@LJMOBPPBA�?V�>�C>@QLO�LC �
)C � � QEB�DO>ME�FP�BFQEBO�PQOBQ@EBA�LO�@LJMOBPPBA�>KA�>IPL�OBCIB@QBA�>?LRQ�QEB F >UFP�
�H1=@<5���
�D3B:;@9�3�-7DF;53>�*FD7F5:
!�CRK@QFLK � �JLABIP�QEB�MLMRI>QFLK�LC�CORFQ�CIFBP��4EB�DO>ME�FP�PELTK�FK �;9GD7�����
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
�;9GD7����
! P@FBKQFPQ FP @LJM>OFKD QEFP MLMRI>QFLK QL >KLQEBO MLMRI>QFLK� � �TELPB DOLTQE CLIILTP QEB P>JB M>QQBOK� ?RQ
FP�QTF@B�>P�I>ODB��3HBQ@E�>�DO>ME�LC�QEFP�MLMRI>QFLK�
*A>GF;A@
"B@>RPB QEB MLMRI>QFLK FP >IT>VP QTF@B >P I>ODB� QEB KBT MLMRI>QFLKgP LRQMRQ S>IRBP >OB >IT>VP QTF@B QEB LOFDFK>I
CRK@QFLKgP�LRQMRQ�S>IRBP��'O>MEF@>IIV��QEFP�FP�PELTK�FK �;9GD7�����
)C�TB�@ELLPB�CLRO�OBCBOBK@B�MLFKQP�������������������>KA������TB�TFII�JRIQFMIV�>II�LC�QEB�LRQMRQP�?V���
4EB�CLIILTFKD�PELTP�TEBOB�QEB�KBT�MLFKQP�CLO�QEB�KBT�DO>ME�TFII�?B�IL@>QBA�
�;9GD7����
3VJ?LIF@>IIV��QEB�OBI>QFLKPEFM�FP�TOFQQBK�>P
�81@D5B����E>3D9?>C ���
4EFP JB>KP QE>Q CLO >KV FKMRQ � � QEB S>IRB LC QEB CRK@QFLK � � FP QTF@B QEB S>IRB LC QEB CRK@QFLK � �.LQF@B QE>Q QEB
BCCB@Q LK QEB DO>ME FP > SBOQF@>I PQOBQ@EFKD LC QEB DO>ME� TEBOB BSBOV MLFKQ ALR?IBP FQP AFPQ>K@B COLJ QEB ELOFWLKQ>I
>UFP��4EB�FKMRQ�S>IRBP� � � PQ>V�QEB�P>JB�TEFIB�QEB�LRQMRQ�S>IRBP�>OB�QTF@B�>P�I>ODB�>P�?BCLOB�
�;H7@ 3 F34G>3D 8G@5F;A@ 3@6 3EEG?;@9 F:3F F:7 FD3@E8AD?3F;A@ ;E 3 H7DF;53> EFD7F5: AD 5A?BD7EE;A@� 5D73F7
3�F34>7�8AD�3�H7DF;53>�5A?BD7EE;A@�
$BQBOJFKB�QEB�S>IRB�LC �
� -RIQFMIV�>II�LC�QEB�LRQMRQ�S>IRBP�?V �
�H1=@<5����
�;@6;@9�3�-7DF;53>��A?BD7EE;A@�A8�3�+34G>3D��G@5F;A@
!�CRK@QFLK � � FP�DFSBK�>P +34>7������#OB>QB�>�Q>?IB�CLO�QEB�CRK@QFLK �
� � � �
� � � � ��
+34>7����
*A>GF;A@
4EB CLOJRI> � � QBIIP RP QE>Q QEB LRQMRQ S>IRBP LC � � >OB E>IC LC QEB LRQMRQ S>IRBP LC � �TFQE QEB P>JB
FKMRQP��&LO�BU>JMIB��TB�HKLT�QE>Q � �4EBK
7B�AL�QEB�P>JB�CLO�QEB�LQEBO�S>IRBP�QL�MOLAR@B +34>7�����
+34>7����
�@3>KE;E
4EB OBPRIQ FP QE>Q QEB CRK@QFLK � � E>P ?BBK @LJMOBPPBA SBOQF@>IIV ?V � �%>@E LRQMRQ S>IRB FP AFSFABA FK E>IC� PL
QEB�DO>ME�FP�E>IC�QEB�LOFDFK>I�EBFDEQ�
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
�� !�CRK@QFLK � � FP�DFSBK�>P +34>7������#OB>QB�>�Q>?IB�CLO�QEB�CRK@QFLK �
� � � �
�� �� �� �
+34>7����
�H1=@<5����
)75A9@;L;@9�3�-7DF;53>�*FD7F5:
4EB DO>ME FK �;9GD7 ��� FP > QO>KPCLOJ>QFLK LC QEB QLLIHFQ CRK@QFLK � �2BI>QB QEFP KBT CRK@QFLK � �
QL � � >KA�QEBK�CFKA�>�CLOJRI>�CLO �
�;9GD7����
*A>GF;A@
7EBK QOVFKD QL ABQBOJFKB > SBOQF@>I PQOBQ@E LO PEFCQ� FQ FP EBIMCRI QL ILLH CLO > MLFKQ LK QEB DO>ME QE>Q FP OBI>QFSBIV
@IB>O� )K QEFP DO>ME� FQ >MMB>OP QE>Q � �7FQE QEB ?>PF@ @R?F@ CRK@QFLK >Q QEB P>JB FKMRQ� � �
">PBA LK QE>Q� FQ >MMB>OP QE>Q QEB LRQMRQP LC � � >OB � � QEB LRQMRQP LC QEB CRK@QFLK � � ?B@>RPB � � &OLJ
QEFP�TB�@>K�C>FOIV�P>CBIV�@LK@IRAB�QE>Q �
7B�@>K�TOFQB�>�CLOJRI>�CLO � � ?V�RPFKD�QEB�ABCFKFQFLK�LC�QEB�CRK@QFLK �
�81@D5B����E>3D9?>C ���
��� 7OFQB QEB CLOJRI> CLO QEB CRK@QFLK QE>Q TB DBQ TEBK TB PQOBQ@E QEB FABKQFQV QLLIHFQ CRK@QFLK ?V > C>@QLO LC
���>KA�QEBK�PEFCQ�FQ�ALTK�?V���RKFQP�
�AD;LA@F3>�*FD7F5:7E�3@6��A?BD7EE;A@E
.LT TB @LKPFABO @E>KDBP QL QEB FKPFAB LC > CRK@QFLK� 7EBK TB JRIQFMIV > CRK@QFLKgP FKMRQ ?V > MLPFQFSB @LKPQ>KQ� TB DBQ >
CRK@QFLK TELPB DO>ME FP PQOBQ@EBA LO @LJMOBPPBA ELOFWLKQ>IIV FK OBI>QFLK QL QEB DO>ME LC QEB LOFDFK>I CRK@QFLK� )C QEB @LKPQ>KQ
FP ?BQTBBK � >KA �� TB DBQ > :AD;LA@F3> EFD7F5:� FC QEB @LKPQ>KQ FP DOB>QBO QE>K �� TB DBQ > :AD;LA@F3> 5A?BD7EE;A@ LC QEB
CRK@QFLK�
�;9GD7����
'FSBK > CRK@QFLK � � QEB CLOJ � � OBPRIQP FK > ELOFWLKQ>I PQOBQ@E LO @LJMOBPPFLK� #LKPFABO QEB CRK@QFLK
� �/?PBOSB �;9GD7 ���� 4EB DO>ME LC � � FP > ELOFWLKQ>I PQOBQ@E LC QEB DO>ME LC QEB CRK@QFLK � � ?V >
C>@QLO�LC����4EB�DO>ME�LC � � FP�>�ELOFWLKQ>I�@LJMOBPPFLK�LC�QEB�DO>ME�LC�QEB�CRK@QFLK � � ?V�>�C>@QLO�LC���
�AD;LA@F3>�*FD7F5:7E�3@6��A?BD7EE;A@E
'FSBK > CRK@QFLK � � > KBT CRK@QFLK � �TEBOB � � FP > @LKPQ>KQ� FP > :AD;LA@F3> EFD7F5: LO :AD;LA@F3>
5A?BD7EE;A@ LC�QEB�CRK@QFLK �
Q )C � � QEBK�QEB�DO>ME�TFII�?B�@LJMOBPPBA�?V �
Q )C � � QEBK�QEB�DO>ME�TFII�?B�PQOBQ@EBA�?V �
Q )C � � QEBK�QEBOB�TFII�?B�@LJ?FK>QFLK�LC�>�ELOFWLKQ>I�PQOBQ@E�LO�@LJMOBPPFLK�TFQE�>�ELOFWLKQ>I�OBCIB@QFLK�
�;H7@�3�67E5D;BF;A@�A8�3�8G@5F;A@��E=7F5:�3�:AD;LA@F3>�5A?BD7EE;A@�AD�EFD7F5:�
7OFQB�>�CLOJRI>�QL�OBMOBPBKQ�QEB�CRK@QFLK�
� 3BQ � �TEBOB � � CLO�>�@LJMOBPPFLK�LO � � CLO�>�PQOBQ@E�
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
�H1=@<5����
�D3B:;@9�3��AD;LA@F3>��A?BD7EE;A@
3RMMLPB > P@FBKQFPQ FP @LJM>OFKD > MLMRI>QFLK LC CORFQ CIFBP QL > MLMRI>QFLK QE>Q MOLDOBPPBP QEOLRDE FQP IFCBPM>K
QTF@B >P C>PQ >P QEB LOFDFK>I MLMRI>QFLK� )K LQEBO TLOAP� QEFP KBT MLMRI>QFLK� � �TFII MOLDOBPP FK � ELRO QEB
P>JB >JLRKQ >P QEB LOFDFK>I MLMRI>QFLK ALBP FK � ELROP� >KA FK � ELROP� FQ TFII MOLDOBPP >P JR@E >P QEB LOFDFK>I
MLMRI>QFLK�ALBP�FK���ELROP��3HBQ@E�>�DO>ME�LC�QEFP�MLMRI>QFLK�
*A>GF;A@
3VJ?LIF@>IIV��TB�@LRIA�TOFQB
3BB �;9GD7��� CLO�>�DO>MEF@>I�@LJM>OFPLK�LC�QEB�LOFDFK>I�MLMRI>QFLK�>KA�QEB�@LJMOBPPBA�MLMRI>QFLK�
�;9GD7��� >�/OFDFK>I�MLMRI>QFLK�DO>ME�?�#LJMOBPPBA�MLMRI>QFLK�DO>ME
�@3>KE;E
.LQB QE>Q QEB BCCB@Q LK QEB DO>ME FP > ELOFWLKQ>I @LJMOBPPFLK TEBOB >II FKMRQ S>IRBP >OB E>IC LC QEBFO LOFDFK>I
AFPQ>K@B�COLJ�QEB�SBOQF@>I�>UFP�
�H1=@<5����
�;@6;@9�3��AD;LA@F3>�*FD7F5:�8AD�3�+34G>3D��G@5F;A@
!�CRK@QFLK � � FP�DFSBK�>P +34>7������#OB>QB�>�Q>?IB�CLO�QEB�CRK@QFLK �
�81@D5B����E>3D9?>C ��
� � � �
� � � ��
+34>7����
*A>GF;A@
4EB CLOJRI> � � QBIIP RP QE>Q QEB LRQMRQ S>IRBP CLO � � >OB QEB P>JB >P QEB LRQMRQ S>IRBP CLO QEB
CRK@QFLK � � >Q >K FKMRQ E>IC QEB PFWB� .LQF@B QE>Q TB AL KLQ E>SB BKLRDE FKCLOJ>QFLK QL ABQBOJFKB � � ?B@>RPB
� � >KA TB AL KLQ E>SB > S>IRB CLO � � FK LRO Q>?IB� /RO FKMRQ S>IRBP QL � �TFII KBBA QL
?B�QTF@B�>P�I>ODB�QL�DBQ�FKMRQP�CLO � � QE>Q�TB�@>K�BS>IR>QB��&LO�BU>JMIB��TB�@>K�ABQBOJFKB �
7B�AL�QEB�P>JB�CLO�QEB�LQEBO�S>IRBP�QL�MOLAR@B +34>7�����
� � �� ��
� � � ��
+34>7����
�;9GD7���� PELTP�QEB�DO>MEP�LC�?LQE�LC�QEBPB�PBQP�LC�MLFKQP�
�;9GD7����
�@3>KE;E
"B@>RPB B>@E FKMRQ S>IRB E>P ?BBK ALR?IBA� QEB OBPRIQ FP QE>Q QEB CRK@QFLK � � E>P ?BBK PQOBQ@EBA ELOFWLKQ>IIV ?V
>�C>@QLO�LC���
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
���
�H1=@<5����
)75A9@;L;@9�3��AD;LA@F3>��A?BD7EE;A@�A@�3��D3B:
2BI>QB�QEB�CRK@QFLK � � QL � � FK �;9GD7�����
�;9GD7����
*A>GF;A@
4EB DO>ME LC � � ILLHP IFHB QEB DO>ME LC � � ELOFWLKQ>IIV @LJMOBPPBA� "B@>RPB � � BKAP >Q � � >KA � �
BKAP >Q � �TB @>K PBB QE>Q QEB � S>IRBP E>SB ?BBK @LJMOBPPBA ?V � � ?B@>RPB � �7B JFDEQ >IPL
KLQF@B QE>Q � � >KA � �%FQEBO T>V� TB @>K ABP@OF?B QEFP OBI>QFLKPEFM >P � �4EFP FP
>�ELOFWLKQ>I�@LJMOBPPFLK�?V �
�@3>KE;E
.LQF@B QE>Q QEB @LBCCF@FBKQ KBBABA CLO > ELOFWLKQ>I PQOBQ@E LO @LJMOBPPFLK FP QEB OB@FMOL@>I LC QEB PQOBQ@E LO
@LJMOBPPFLK� 3L QL PQOBQ@E QEB DO>ME ELOFWLKQ>IIV ?V > P@>IB C>@QLO LC �� TB KBBA > @LBCCF@FBKQ LC � � FK LRO
CRK@QFLK� � �4EFP JB>KP QE>Q QEB FKMRQ S>IRBP JRPQ ?B CLRO QFJBP I>ODBO QL MOLAR@B QEB P>JB OBPRIQ� OBNRFOFKD
QEB�FKMRQ�QL�?B�I>ODBO��@>RPFKD�QEB�ELOFWLKQ>I�PQOBQ@EFKD�
7OFQB�>�CLOJRI>�CLO�QEB�QLLIHFQ�PNR>OB�OLLQ�CRK@QFLK�ELOFWLKQ>IIV�PQOBQ@EBA�?V�>�C>@QLO�LC���
'7D8AD?;@9�3�*7CG7@57�A8�+D3@E8AD?3F;A@E
7EBK @LJ?FKFKD QO>KPCLOJ>QFLKP� FQ FP SBOV FJMLOQ>KQ QL @LKPFABO QEB LOABO LC QEB QO>KPCLOJ>QFLKP� &LO BU>JMIB� SBOQF@>IIV
PEFCQFKD ?V � >KA QEBK SBOQF@>IIV PQOBQ@EFKD ?V � ALBP KLQ @OB>QB QEB P>JB DO>ME >P SBOQF@>IIV PQOBQ@EFKD ?V � >KA QEBK
SBOQF@>IIV PEFCQFKD ?V �� ?B@>RPB TEBK TB PEFCQ CFOPQ� ?LQE QEB LOFDFK>I CRK@QFLK >KA QEB PEFCQ DBQ PQOBQ@EBA� TEFIB LKIV QEB
LOFDFK>I�CRK@QFLK�DBQP�PQOBQ@EBA�TEBK�TB�PQOBQ@E�CFOPQ�
7EBK TB PBB >K BUMOBPPFLK PR@E >P �� �TEF@E QO>KPCLOJ>QFLK PELRIA TB PQ>OQ TFQE� 4EB >KPTBO EBOB CLIILTP
KF@BIV COLJ QEB LOABO LC LMBO>QFLKP� 'FSBK QEB LRQMRQ S>IRB LC � �TB CFOPQ JRIQFMIV ?V �� @>RPFKD QEB SBOQF@>I PQOBQ@E� >KA
QEBK�>AA����@>RPFKD�QEB�SBOQF@>I�PEFCQ��)K�LQEBO�TLOAP��JRIQFMIF@>QFLK�?BCLOB�>AAFQFLK�
(LOFWLKQ>I QO>KPCLOJ>QFLKP >OB > IFQQIB QOF@HFBO QL QEFKH >?LRQ� 7EBK TB TOFQB � � CLO BU>JMIB� TB E>SB QL
QEFKH >?LRQ ELT QEB FKMRQP QL QEB CRK@QFLK � � OBI>QB QL QEB FKMRQP QL QEB CRK@QFLK �� � 3RMMLPB TB HKLT � �7E>Q
FKMRQ QL � �TLRIA MOLAR@B QE>Q LRQMRQ� )K LQEBO TLOAP� TE>Q S>IRB LC � �TFII >IILT � �7BTLRIA KBBA
�81@D5B����E>3D9?>C ���
� �4L PLISB CLO � �TB TLRIA CFOPQ PR?QO>@Q �� OBPRIQFKD FK > ELOFWLKQ>I PEFCQ� >KA QEBK AFSFAB ?V �� @>RPFKD >
ELOFWLKQ>I�@LJMOBPPFLK�
4EFP CLOJ>Q BKAP RM ?BFKD SBOV AFCCF@RIQ QL TLOH TFQE� ?B@>RPB FQ FP RPR>IIV JR@E B>PFBO QL ELOFWLKQ>IIV PQOBQ@E > DO>ME ?BCLOB
PEFCQFKD��7B�@>K�TLOH�>OLRKA�QEFP�?V�C>@QLOFKD�FKPFAB�QEB�CRK@QFLK�
,BQgP�TLOH�QEOLRDE�>K�BU>JMIB�
7B�@>K�C>@QLO�LRQ�>���
.LT TB @>K JLOB @IB>OIV L?PBOSB > ELOFWLKQ>I PEFCQ QL QEB IBCQ � RKFQP >KA > ELOFWLKQ>I @LJMOBPPFLK� &>@QLOFKD FK QEFP T>V
>IILTP�RP�QL�ELOFWLKQ>IIV�PQOBQ@E�CFOPQ�>KA�QEBK�PEFCQ�ELOFWLKQ>IIV�
�A?4;@;@9�+D3@E8AD?3F;A@E
7EBK @LJ?FKFKD SBOQF@>I QO>KPCLOJ>QFLKP TOFQQBK FK QEB CLOJ � � CFOPQ SBOQF@>IIV PQOBQ@E ?V � � >KA QEBK
SBOQF@>IIV�PEFCQ�?V �
7EBK @LJ?FKFKD ELOFWLKQ>I QO>KPCLOJ>QFLKP TOFQQBK FK QEB CLOJ � � CFOPQ ELOFWLKQ>IIV PEFCQ ?V � � >KA QEBK
ELOFWLKQ>IIV�PQOBQ@E�?V �
7EBK @LJ?FKFKD ELOFWLKQ>I QO>KPCLOJ>QFLKP TOFQQBK FK QEB CLOJ � � CFOPQ ELOFWLKQ>IIV PQOBQ@E ?V � � >KA QEBK
ELOFWLKQ>IIV�PEFCQ�?V �
(LOFWLKQ>I >KA SBOQF@>I QO>KPCLOJ>QFLKP >OB FKABMBKABKQ� )Q ALBP KLQ J>QQBO TEBQEBO ELOFWLKQ>I LO SBOQF@>I
QO>KPCLOJ>QFLKP�>OB�MBOCLOJBA�CFOPQ�
�H1=@<5����
�;@6;@9�3�+D;B>7�+D3@E8AD?3F;A@�A8�3�+34G>3D��G@5F;A@
'FSBK +34>7���� CLO�QEB�CRK@QFLK � � @OB>QB�>�Q>?IB�LC�S>IRBP�CLO�QEB�CRK@QFLK �
� �� �� ��
�� �� �� ��
+34>7����
*A>GF;A@
4EBOB >OB QEOBB PQBMP QL QEFP QO>KPCLOJ>QFLK� >KA TB TFII TLOH COLJ QEB FKPFAB LRQ� 3Q>OQFKD TFQE QEB ELOFWLKQ>I
QO>KPCLOJ>QFLKP� � � FP > ELOFWLKQ>I @LJMOBPPFLK ?V � �TEF@E JB>KP TB JRIQFMIV B>@E � S>IRB ?V � 3BB
+34>7�����
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
� � � �
�� �� �� ��
+34>7����
,LLHFKD KLT QL QEB SBOQF@>I QO>KPCLOJ>QFLKP� TB PQ>OQ TFQE QEB SBOQF@>I PQOBQ@E� TEF@E TFII JRIQFMIV QEB LRQMRQ
S>IRBP�?V����7B�>MMIV�QEFP�QL�QEB�MOBSFLRP�QO>KPCLOJ>QFLK��3BB +34>7��� �
� � � �
�� �� �� ��
+34>7���
&FK>IIV��TB�@>K�>MMIV�QEB�SBOQF@>I�PEFCQ��TEF@E�TFII�>AA���QL�>II�QEB�LRQMRQ�S>IRBP��3BB +34>7�����
� � � �
�� �� �� ��
+34>7����
�H1=@<5����
�;@6;@9�3�+D;B>7�+D3@E8AD?3F;A@�A8�3��D3B:
5PB�QEB�DO>ME�LC � � FK �;9GD7���� QL�PHBQ@E�>�DO>ME�LC �
�81@D5B����E>3D9?>C ���
�;9GD7����
*A>GF;A@
4L�PFJMIFCV��IBQgP�PQ>OQ�?V�C>@QLOFKD�LRQ�QEB�FKPFAB�LC�QEB�CRK@QFLK�
"V C>@QLOFKD QEB FKPFAB� TB @>K CFOPQ ELOFWLKQ>IIV PQOBQ@E ?V �� >P FKAF@>QBA ?V QEB � � LK QEB FKPFAB LC QEB CRK@QFLK�
2BJBJ?BO QE>Q QTF@B QEB PFWB LC � FP PQFII �� PL QEB MLFKQ ��� OBJ>FKP >Q ��� TEFIB QEB MLFKQ ��� TFII PQOBQ@E QL
�����3BB �;9GD7�����
�;9GD7����
.BUQ��TB�ELOFWLKQ>IIV�PEFCQ�IBCQ�?V���RKFQP��>P�FKAF@>QBA�?V � � 3BB �;9GD7�����
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
�;9GD7����
,>PQ� TB SBOQF@>IIV PEFCQ ALTK ?V � QL @LJMIBQB LRO PHBQ@E� >P FKAF@>QBA ?V QEB � � LK QEB LRQPFAB LC QEB CRK@QFLK�
3BB �;9GD7�����
�;9GD7����
!@@BPP�QEFP�LKIFKB�OBPLRO@B�CLO�>AAFQFLK>I�FKPQOR@QFLK�>KA�MO>@QF@B�TFQE�QO>KPCLOJ>QFLK�LC�CRK@QFLKP�
R �G@5F;A@�+D3@E8AD?3F;A@E��:FFB���AB7@EF3J5A>>797AD9�>�8G@5FD3@E�
�81@D5B����E>3D9?>C ���
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����/�)� *�*
-7D43>
7EBK BU>JFKFKD QEB CLOJRI> LC > CRK@QFLK QE>Q FP QEB
OBPRIQ LC JRIQFMIB QO>KPCLOJ>QFLKP� ELT @>K VLR QBII >
ELOFWLKQ>I�PEFCQ�COLJ�>�SBOQF@>I�PEFCQ�
7EBK BU>JFKFKD QEB CLOJRI> LC > CRK@QFLK QE>Q FP QEB
OBPRIQ LC JRIQFMIB QO>KPCLOJ>QFLKP� ELT @>K VLR QBII >
ELOFWLKQ>I�PQOBQ@E�COLJ�>�SBOQF@>I�PQOBQ@E�
7EBK BU>JFKFKD QEB CLOJRI> LC > CRK@QFLK QE>Q FP QEB
OBPRIQ LC JRIQFMIB QO>KPCLOJ>QFLKP� ELT @>K VLR QBII >
ELOFWLKQ>I�@LJMOBPPFLK�COLJ�>�SBOQF@>I�@LJMOBPPFLK�
7EBK BU>JFKFKD QEB CLOJRI> LC > CRK@QFLK QE>Q FP QEB
OBPRIQ LC JRIQFMIB QO>KPCLOJ>QFLKP� ELT @>K VLR QBII >
OBCIB@QFLK TFQE OBPMB@Q QL QEB F >UFP COLJ > OBCIB@QFLK TFQE
OBPMB@Q�QL�QEB G >UFP�
(LT @>K VLR ABQBOJFKB TEBQEBO > CRK@QFLK FP LAA LO
BSBK�COLJ�QEB�CLOJRI>�LC�QEB�CRK@QFLK�
�>974D3;5
&LO QEB CLIILTFKD BUBO@FPBP� TOFQB > CLOJRI> CLO QEB CRK@QFLK
L?Q>FKBA�TEBK�QEB�DO>ME�FP�PEFCQBA�>P�ABP@OF?BA�
� � FP�PEFCQBA�RM���RKFQ�>KA�QL�QEB�IBCQ���RKFQP�
� FP PEFCQBA ALTK � RKFQP >KA QL QEB OFDEQ �
RKFQ�
� � FP PEFCQBA ALTK � RKFQP >KA QL QEB OFDEQ �
RKFQP�
� � FP PEFCQBA RM � RKFQP >KA QL QEB IBCQ � RKFQP�
&LO QEB CLIILTFKD BUBO@FPBP� ABP@OF?B ELT QEB DO>ME LC QEB
CRK@QFLK FP > QO>KPCLOJ>QFLK LC QEB DO>ME LC QEB LOFDFK>I
CRK@QFLK �
&LO QEB CLIILTFKD BUBO@FPBP� ABQBOJFKB QEB FKQBOS>IP LK
TEF@E�QEB�CRK@QFLK�FP�FK@OB>PFKD�>KA�AB@OB>PFKD�
�D3B:;53>
&LO QEB CLIILTFKD BUBO@FPBP� RPB QEB DO>ME LC �
PELTK FK �;9GD7 ��� QL PHBQ@E > DO>ME LC B>@E
QO>KPCLOJ>QFLK�LC �
�;9GD7����
&LO QEB CLIILTFKD BUBO@FPBP� PHBQ@E > DO>ME LC QEB CRK@QFLK
>P > QO>KPCLOJ>QFLK LC QEB DO>ME LC LKB LC QEB QLLIHFQ
CRK@QFLKP�
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
����
����
����
����
����
����
����
����
%G?7D;5
4>?RI>O OBMOBPBKQ>QFLKP CLO QEB CRK@QFLKP � � � >KA
� � >OB DFSBK ?BILT� 7OFQB � � >KA � � >P
QO>KPCLOJ>QFLKP�LC �
m� m� � � �
m� m� m� � �
m� � � � �
m� m� m� � �
m� m� � � �
m� � m� � �
4>?RI>O OBMOBPBKQ>QFLKP CLO QEB CRK@QFLKP � � � >KA
� � >OB DFSBK ?BILT� 7OFQB � � >KA � � >P
QO>KPCLOJ>QFLKP�LC �
m� m� � � �
m� m� � � �
m� m� m� � �
m� m� � � �
m� m� � � �
m� m� � � �
&LO QEB CLIILTFKD BUBO@FPBP� TOFQB >K BNR>QFLK CLO B>@E
DO>MEBA CRK@QFLK ?V RPFKD QO>KPCLOJ>QFLKP LC QEB DO>MEP LC
LKB�LC�QEB�QLLIHFQ�CRK@QFLKP�
�81@D5B����E>3D9?>C ���
����
����
����
����
����
����
&LO QEB CLIILTFKD BUBO@FPBP� RPB QEB DO>MEP LC
QO>KPCLOJ>QFLKP LC QEB PNR>OB OLLQ CRK@QFLK QL CFKA >
CLOJRI>�CLO�B>@E�LC�QEB�CRK@QFLKP�
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
����
&LO QEB CLIILTFKD BUBO@FPBP� RPB QEB DO>MEP LC QEB
QO>KPCLOJBA QLLIHFQ CRK@QFLKP QL TOFQB > CLOJRI> CLO B>@E LC
QEB�OBPRIQFKD�CRK@QFLKP�
&LO QEB CLIILTFKD BUBO@FPBP� ABQBOJFKB TEBQEBO QEB CRK@QFLK
FP�LAA��BSBK��LO�KBFQEBO�
&LO QEB CLIILTFKD BUBO@FPBP� ABP@OF?B ELT QEB DO>ME LC B>@E
CRK@QFLK FP > QO>KPCLOJ>QFLK LC QEB DO>ME LC QEB LOFDFK>I
CRK@QFLK �
&LO QEB CLIILTFKD BUBO@FPBP� TOFQB > CLOJRI> CLO QEB CRK@QFLK
� � QE>Q OBPRIQP TEBK QEB DO>ME LC > DFSBK QLLIHFQ CRK@QFLK FP
QO>KPCLOJBA�>P�ABP@OF?BA�
4EB DO>ME LC � � FP OBCIB@QBA LSBO QEB � �>UFP
>KA�ELOFWLKQ>IIV�@LJMOBPPBA�?V�>�C>@QLO�LC � �
4EB DO>ME LC � � FP OBCIB@QBA LSBO QEB � >UFP
>KA�ELOFWLKQ>IIV�PQOBQ@EBA�?V�>�C>@QLO�LC���
4EB DO>ME LC � � FP SBOQF@>IIV @LJMOBPPBA ?V
> C>@QLO LC � � QEBK PEFCQBA QL QEB IBCQ � RKFQP >KA ALTK �
RKFQP�
4EB DO>ME LC � � FP SBOQF@>IIV PQOBQ@EBA ?V >
C>@QLO�LC����QEBK�PEFCQBA�QL�QEB�OFDEQ���RKFQP�>KA�RM���RKFQP�
�81@D5B����E>3D9?>C ��
����
����
����
����
����
����
����
����
����
����
����
����
����
����
4EB DO>ME LC � � FP SBOQF@>IIV @LJMOBPPBA ?V >
C>@QLO�LC � � QEBK�PEFCQBA�QL�QEB�OFDEQ���RKFQP�>KA�RM���RKFQ�
4EB DO>ME LC � � FP ELOFWLKQ>IIV PQOBQ@EBA ?V
> C>@QLO LC �� QEBK PEFCQBA QL QEB IBCQ � RKFQP >KA ALTK �
RKFQP�
&LO QEB CLIILTFKD BUBO@FPBP� ABP@OF?B ELT QEB CLOJRI> FP >
QO>KPCLOJ>QFLK LC > QLLIHFQ CRK@QFLK� 4EBK PHBQ@E > DO>ME LC
QEB�QO>KPCLOJ>QFLK�
&LO QEB CLIILTFKD BUBO@FPBP� RPB QEB DO>ME FK �;9GD7 ���
QL�PHBQ@E�QEB�DFSBK�QO>KPCLOJ>QFLKP�
�;9GD7����
��� �81@D5B����E>3D9?>C
,89C�3?>D5>D�9C�1F19<12<5�6?B�6B55�1D�8DD@C��� �3?>D5>D�3?< ���� �