'
)28)6 *367
=78)1%8-')
2831303+=-
2'+EMRIWZMPPI*0
%R ERRSXEXIH GLIGOPMWX
SJ XLI 'SPISTXIVE -RWIGXE SJ XLI &ELEQEW 6SFIVX,8YVRFS[.V
&VSSOZMI['X )RXIVTVMWI%0
1MGLEIP'8LSQEW
*PSVMHE7XEXI'SPPIGXMSRSJ%VXLVSTSHW
*PSVMHE(ITEVXQIRXSJ%KVMGYPXYVIERH'SRWYQIV7IVZMGIW 43&S\
+EMRIWZMPPI*0
Date of Issue: April 11, 2008
- 27)'8%
1 92(- A Journal of World Insect Systematics
6SFIVX,8YVRFS[.VERH1MGLEIP'8LSQEW
%RERRSXEXIHGLIGOPMWXSJXLI'SPISTXIVE-RWIGXESJXLI&ELEQEW -RWIGXE1YRHM
4YFPMWLIHMRF]
'IRXIVJSV7]WXIQEXMG)RXSQSPSK]-RG 43&S\
+EMRIWZMPPI*097%
LXXT[[[GIRXIVJSVW]WXIQEXMGIRXSQSPSK]SVK
-RWIGXE1YRHMMWENSYVREPTVMQEVMP]HIZSXIHXSMRWIGXW]WXIQEXMGWFYXEVXMGPIWGERFITYFPMWLIHSR ER]RSRQEVMRIEVXLVSTSHXE\SR1ERYWGVMTXWGSRWMHIVIHJSVTYFPMGEXMSRMRGPYHIFYXEVIRSXPMQMXIHXS W]WXIQEXMGSVXE\SRSQMGWXYHMIWVIZMWMSRWRSQIRGPEXYVEPGLERKIWJEYREPWXYHMIWFSSOVIZMI[WTL]PS KIRIXMGEREP]WIWFMSPSKMGEPSVFILEZMSVEPWXYHMIWIXG-RWIGXE1YRHMMW[MHIP]HMWXVMFYXIHERHVIJIV IRGIHSVEFWXVEGXIHF]WIZIVEPWSYVGIWMRGPYHMRKXLI>SSPSKMGEP6IGSVH'%&%FWXVEGXWIXG
%WSJ-RWIGXE1YRHMMWTYFPMWLIHMVVIKYPEVP]XLVSYKLSYXXLI]IEVRSXEWEUYEVXIVP]MWWYIW
%WQERYWGVMTXWEVIGSQTPIXIHXLI]EVITYFPMWLIHERHKMZIRERMRHMZMHYEPRYQFIV1ERYWGVMTXWQYWXFI TIIVVIZMI[IHTVMSVXSWYFQMWWMSREJXIV[LMGLXLI]EVIEKEMRVIZMI[IHF]XLIIHMXSVMEPFSEVHXSMRWYVI UYEPMX]3RIEYXLSVSJIEGLWYFQMXXIHQERYWGVMTXQYWXFIEGYVVIRXQIQFIVSJXLI'IRXIVJSV7]WXIQ EXMG)RXSQSPSK]
1EREKMRKIHMXSV4EYP)7OIPPI]IQEMPMRWIGXEQYRHM$KQEMPGSQ 4VSHYGXMSRIHMXSV1MGLEIP'8LSQEWIQEMPXLSQEWQ$HSEGWWXEXIJPYW )HMXSVMEPFSEVH.,*VERO1.4EYPWIR
4VMRXIHGSTMIWHITSWMXIHMRPMFVEVMIWSJ '7-63'ERFIVVE%'8%YWXVEPME
1YWIYHI>SSPSKME7ÇS4EYPS&VE^MP
%KVMGYPXYVIERH%KVMJSSH'EREHE3XXE[E3RXEVMS'EREHE 8LI2EXYVEP,MWXSV]1YWIYQ0SRHSR)RKPERH
1Y^IYQ--RWX]XYX>SSPSKMM4ER;EVWE[4SPERH 2EXMSREP8EM[ER9RMZIVWMX]8EMTIM8EM[ER
'EPMJSVRME%GEHIQ]SJ7GMIRGIW7ER*VERGMWGS'%97%
*PSVMHE(ITEVXQIRXSJ%KVMGYPXYVIERH'SRWYQIV7IVZMGIW+EMRIWZMPPI*097%
*MIPH1YWIYQSJ2EXYVEP,MWXSV]'LMGEKS-097%
2EXMSREP1YWIYQSJ2EXYVEP,MWXSV]7QMXLWSRMER-RWXMXYXMSR;EWLMRKXSR('97%
)PIGXVSRMGGSTMIWMR4(*JSVQEX
4VMRXIH'(QEMPIHXSEPPQIQFIVWEXIRHSJ]IEV
*PSVMHE'IRXIVJSV0MFVEV]%YXSQEXMSRTYVPJGPEIHYJGPEMRWIGXEQYRHM
%YXLSVMRWXVYGXMSRWEZEMPEFPISRXLI-RWIGXE1YRHMTEKIEX LXXT[[[GIRXIVJSVW]WXIQEXMGIRXSQSPSK]SVKMRWIGXEQYRHM -772
1
%R ERRSXEXIH GLIGOPMWX
SJ XLI 'SPISTXIVE -RWIGXE SJ XLI &ELEQEW 6SFIVX,8YVRFS[.V
&VSSOZMI['X )RXIVTVMWI%0
1MGLEIP'8LSQEW
*PSVMHE7XEXI'SPPIGXMSRSJ%VXLVSTSHW
*PSVMHE(ITEVXQIRXSJ%KVMGYPXYVIERH'SRWYQIV7IVZMGIW 43&S\
+EMRIWZMPPI*0
%FWXVEGX%JEYREPPMWXSJWTIGMIWSJ'SPISTXIVEMRKIRIVEMRJEQMPMIWMWTVIWIRXIHJSVXLI'SQQSR[IEPXL SJXLI&ELEQEW*SVQSWXWTIGMIWMWPERHERHPSGEPMX][MXLMRMWPERHGSPPIGXMRKMRJSVQEXMSRMWTVSZMHIH
-RXVSHYGXMSR
,MWXSVMGEPP]XLIFIIXPIJEYRESJXLI&ELEQEWLEWFIIRZIV]TSSVP]ORS[R0IRKERH1YXGLPIV MRXLIMVPMWXSJXLIFIIXPIWSJXLI;IWX-RHMIWVIGSVHIHSRP]WTIGMIWWTIGMJMGEPP]JVSQXLI&ELEQEW
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
8LITYFPMGEXMSRSJXLMWGLIGOPMWXGSQTPIXIWEWIXSJGLIGOPMWXWXLEXEPWSMRGPYHIW*PSVMHE4IGOERH 8LSQEWERH'YFE4IGO[LMGL[MXLXLI&ELEQEWGSQTVMWIEREXYVEPFMSKISKVETLMGYRMX [MXLQYGLMRGSQQSRJEYRMWXMGEPP]ERHJPSVMWXMGEPP]
8LIPMWXTVSZMHIHLIVIMWEGSQFMREXMSRSJPMXIVEXYVIVIGSVHWVIJIVIRGIHRI[MRJSVQEXMSRFEWIHSR SYVGSPPIGXMRKSR%RHVSW-WPERHMRERHERH+VIEX-REKYEMRERHWTIGMQIRVIGSVHW MRXLI*PSVMHE7XEXI'SPPIGXMSRSJ%VXLVSTSHW*7'%0MXIVEXYVIVIGSVHWJSVw&ELEQEWxSVw&ELEQE -WPERHWxSRP]&PEGO[IPHIV(EVPMRKXSR)V[MRERH7MQW0IRKERH1YXGLPIV 3v&VMIRERH;MFQIV4IGO8VMTPILSVRERH;EXVSYW;MFQIVERH3v&VMIRERH
=SYRKLEZIFIIRSQMXXIH[LIRQSVIWTIGMJMGHEXELEZIFIIRPSGEXIH0SGEPMX]MRJSVQEXMSRMWTVI WIRXIHZIVFEXMQGSVVIGXMSRWERHIQIRHEXMSRWETTIEVMRFVEGOIXW8LIVITSWMXSVMIWSJEPPWTIGMQIRWPMWXIH EVIWYTTPMIH[LIRORS[R
&IGEYWIXLIKVIEXQENSVMX]SJXLIWTIGMIWPMWXIHEVIRI[JSVXLI&ELEQEWRSEXXIQTXLEWFIIRQEHI XSMHIRXMJ]XLSWIEWWYGL1ER]JEQMPMIWEVILIVIRI[P]VITSVXIHJVSQXLI&ELEQEW,S[IZIVMXWIIQW NYWXMJMIHXSQIRXMSRXLIJMVWX&ELEQMERVIGSVHWSJ,IXIVSFSWXV]GLYW EIUYEPMW;EXIVLSYWI&SWXVMGLMHEI ER%WMERTS[HIVTSWXFIIXPIERH%TLERMWXMGLYWGSGLMRGLMREIWIQMRYPYQ3FIRFIVKIV&YTVIWXMHEIER
%WMERWYKEVGERITIWX&SXLEPWSEVIIWXEFPMWLIHMR*PSVMHE
8LIJEQMP]GSQTSWMXMSRERHEVVERKIQIRXSJXLIPMWXJSPPS[W%VRIXXERH8LSQEW[MXLXLI JSPPS[MRKI\GITXMSRW>STLIVMHEIMRGPYHIXLISPH1SRSQQEXMHEI1SRSQQMHEIERH'SP]HMMHEIWII-ZMI ERH,]FSWSVMHEIMRGPYHI'IVEXSGERXLMHEI3GEQTSERH']FSGITLEPMHEI7QMXLERH
&SPFSGIVEXMHEI/VÅPIXEPEVIVIGSKRM^IHEWHMWXMRGXJEQMPMIW*EQMPMIWEVIPMWXIHEPTLEFIXMGEPP]
KIRIVEEVIEVVERKIHEPTLEFIXMGEPP]YRHIVJEQMP]LIEHMRKWWTIGMIWEVIEVVERKIHEPTLEFIXMGEPP][MXLMR KIRIVE
-RQER]GEWIWXLIMRGVIEWIMRXLIRYQFIVSJ&ELEQMERWTIGMIWLEWFIIRGSRWMHIVEFPI*SVI\EQTPI (EVPMRKXSRVIGSVHIHWTIGMIWSJ'EVEFMHEII\GPYHMRK'MGMRHIPMREIJSVXLI&ELEQEW[ILIVI
8 8 VIGSVHWTIGMIWI\GPYHMRK'MGMRHIPMREIWTIGMIWMRGPYHMRKXLIXMKIVFIIXPIW3XLIVJEQMPMIW[MXL PEVKIRYQFIVWSJ&ELEQMERWTIGMIWEVI'YVGYPMSRMHEI'IVEQF]GMHEI'LV]WSQIPMHEIERH 8IRIFVMSRMHEI7TIGMQIRVIGSVHWVITSVXIHLIVIVITVIWIRXMWPERHWFYX[IPPSZIVLEPJSJXLIVIGSVHW EVIJVSQ%RHVSW-WPERH%RHVSWMWXLIPEVKIWXSJXLI&ELEQMERMWPERHWERH[SYPHFII\TIGXIHXSLEZI XLIPEVKIWXJEYREFYXXLMWRYQFIVTVSFEFP]EPWSVIJPIGXWXLIVIPEXMZIEQSYRXSJGSPPIGXMRKIJJSVXI\TIRHIH XLIVI3XLIVMWPERHW[MXLLMKLRYQFIVWSJVIGSVHWEVI+VIEX-REKYE7SYXL&MQMRMERH)PIYXLIVE
8LI&ELEQEW
8LI'SQQSR[IEPXLSJXLI&ELEQEWMWEROQPSRKEVGLMTIPEKSSJMWPERHWERHGE]WP]MRK VSYKLP]EFSZIXLIEVGJSVQIHF]*PSVMHE'YFEERH,MWTERMSPE3RP]MWPERHWEVIMRLEFMXIH&MQMRMMW OQJVSQ*PSVMHEERH+VIEX-REKYEMWEFSYXOQJVSQ'YFE1SWXSJXLIMWPERHWEVIPS[XLILMKLIWX TSMRXMRXLI&ELEQEWMW1SYRX%PZIVRMESR'EX-WPERHEXQ'SQFMRIHEVIESJXLIMWPERHWMW OQ
&VS[RIIXEP6EXGPMJJIERH'EZIERH7XIMRIVFLEZIEPPHMWGYWWIHEXPIRKXLXLI FMSKISKVETL]ERHJEYREPVIPEXMSRWLMTWSJXLI&ELEQEW[MXLIQTLEWMWSRXLI'IVEQF]GMHEI7GEVEFEIMHEI (]REWXMREIERH8IRIFVMSRMHEIVIWTIGXMZIP]8LIJEYRESJXLI&ELEQEWMWSJVIPEXMZIP]VIGIRXSVMKMRWMRGI XLI&ELEQEW[IVIGSQTPIXIP]MRYRHEXIHHYVMRKXLI4PMSGIRI(YVMRKKPEGMEPTIVMSHWSJXLI4PIMWXSGIRI XLIRSVXLIVR&ELEQEWJSVQIHEGSRXMRYSYWPERHQEWWGEPPIH4EPISTVSZMHIRGIXLEX[EWSRP]REVVS[P]
WITEVEXIHJVSQ'YFEXLIWSYXLIVR&ELEQEW'VSSOIH-WPERH%GOPMRW1E]EKYERE7ER7EPZEHSV6YQ 'E]ERH-REKYE[IVIWITEVEXIMWPERHWHYVMRKXLEXTIVMSH
8LI&ELEQMERFIIXPIJEYREGERFIFVSOIRHS[RMRXSJMZIKVSYTWWTIGMIWWLEVIH[MXL*PSVMHEERHXLI WSYXLIEWXIVR9RMXIH7XEXIWWTIGMIWWLEVIH[MXL'YFEWTIGMIWWLEVIH[MXL,MWTERMSPEWTIGMIW[MHI WTVIEHXLVSYKLSYXXLI;IWX-RHMIWERHWTIGMIWTVIGMRGXMZIwIRHIQMGxXSXLI&ELEQEW
'SPPIGXMSRGSHIRW%&7'%VGLFSPH&MSPSKMGEP7XEXMSR%12,%QIVMGER1YWIYQSJ2EXYVEP,MW XSV]%274%GEHIQ]SJ2EXYVEP7GMIRGIW4LMPEHIPTLME&'6'&VIXX'6EXGPMJJI'SPPIGXMSR&(:'
&EVV](:EPIRXMRI'SPPIGXMSR&2-'&ELEQMER2EXMSREP-RWIGX'SPPIGXMSR2EWWEY&=9'&VMKLEQ
=SYRK9RMZIVWMX]4VSZS'%7''EPMJSVRME%GEHIQ]SJ7GMIRGI7ER*VERGMWGS'12''EREHMER1Y WIYQSJ2EXYVI3XXE[E'2'-'EREHMER2EXMSREP'SPPIGXMSRSJ-RWIGXW3XXE[E'12,'EVRIKMI 1YWIYQSJ2EXYVEP,MWXSV]';3'';3v&VMIR'SPPIGXMSR)07')PFIVX07PIITIV'SPPIGXMSR )1)')WWMK1YWIYQ9RMZIVWMX]SJ'EPMJSVRME&IVOIPI]*7'%*PSVMHE7XEXI'SPPIGXMSRSJ%VXLVSTSHW +EMRIWZMPPI+6''+IVEGI6IWIEVGL'IRXIV7ER7EPZEHSV,%,',IRV]ERH%RRI,S[HIR'SPPIG XMSR-672-RWXMXYXVS]EPHIW7GMIRGIWREXYVIPPIWHI&IPKMUYI.)0'.EQIW)0PS]H'SPPIGXMSR1%-' 1MGLEIP%-ZMI'SPPIGXMSR1'>'1YWIYQSJ'SQTEVEXMZI>SSPSK]'EQFVMHKI18)'1SRXERE7XEXI 9RMZIVWMX]&S^IQER1>741YWIYHI>SSPSKMEHE9RMZIVWMHEHIHI7ÇS4EYPS379'3LMS7XEXI 9RMZIVWMX]'SPYQFYW4)7'4EYP)7OIPPI]'SPPIGXMSR4/0'4EYP0EKS'SPPIGXMSR6(''6SREPH ('EZI'SPPIGXMSR6,8'6SFIVX,8YVRFS[.V'SPPIGXMSR7)1'7RS[)RXSQSPSKMGEP1YWIYQEX XLI9RMZIVWMX]SJ/ERWEW8%198I\EW%19RMZIVWMX]814'8MQ1G'EFI'SPPIGXMSR9'&'8LI )WWMK1YWIYQSJ)RXSQSPSK]9RMZIVWMX]SJ'EPMJSVRME&IVOIPI]97217QMXLWSRMER-RWXMXYXMSR
;EWLMRKXSR('
%GORS[PIHKQIRXW
*SVLIPT[MXLMHIRXMJMGEXMSRW[IXLERO8SQ%XOMRWSR7GSP]XMREI+ISVKI&EPP'EVEFMHEI;MPPMEQ
&EVV'PIVMHEI6SFIVX&IMVMKIV&SWXVMGLMHEI1EVG&VERLEQ0EQT]VMHEI7ØRME%'EWEVM)PEXIVMHEI (SR'LERHPIV%RXLMGMHEI4WIPETLMREI7LE[R'PEVO'LV]WSQIPMHEI%RHVI['PMRI'SV]PSTLMHEI 2MXMHYPMHEI)VMG'VSRMR'MMHEI&]VH(S^MIV&YTVIWXMHEI6SFIVX+SVHSR'SGGMRIPPMHEI.SLR.EGOQER 1SVHIPPMHEI.SLR/MRKWSPZIV&VYGLMHEI(IVQIWXMHEI2EHMRI/VMWOE3IHIQIVMHEI6MGL0IWGLIR )VSX]PMHEI7XIZIR0MRKEJIPXIV'IVEQF]GMHEI2EXLER0SVH0EXVMHMMHEI%HVMIER1E]SV1IP]VMHEI 'LEVPIW3v&VMIR'YVGYPMSRMHEI7IER3v/IIJI7G]HQEIRMHEI;IWXSR3TMX^'PIVMHEI6SFIVX3XXS )YGRIQMHEI7XI[EVX4IGO0IMSHMHEI8/IMXL4LMPMTW%RSFMMHEI(EVVIR4SPPSGO1IPERHV]MHEI 1]GXIVMHEI7EPTMRKMHEI7GVETXMMHEI.EGUYIW6MJOMRH'PIVMHEI*PS]H7LSGOPI])RHSQ]GLMHEI6YHSPTL
Andros
New Providence Eleuthera
Great Inagua San Salvador Grand Bahama
Great Abaco
Cat Island
Acklins Great
Exuma Long Island
Bimini
Crooked Island
Mayaguana
1ET'SQQSR[IEPXLSJXLI&ELEQEW
7GLYL'SP]HMMREI4EYP7OIPPI])VSX]PMHEI7GEVEFEIMHEI;EVVIR7XIMRIV4LEPEGVMHEI8IRIFVMSRMHEI
%PI\I]8MWLIGLOMR,MWXIVMHEI&EVV]:EPIRXMRI%RXLVMFMHEIERH2EXEPME:ERHIRFIVK'SGGMRIPPMHEI
*SVTIVQMXWXSGSPPIGXSR%RHVSW-WPERHERH+VIEX-REKYE[IXLEROXLI&ELEQMER(ITEVXQIRXSJ
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
8LMWMW*PSVMHE(ITEVXQIRXSJ%KVMGYPXYVIERH'SRWYQIV7IVZMGIW(MZMWMSRSJ4PERX-RHYWXV]&Y VIEYSJ)RXSQSPSK]2IQEXSPSK]ERH4PERX4EXLSPSK])RXSQSPSK]'SRXVMFYXMSR2S
8 8
0-783*74)'-)7
%()6-(%)
%HIVYW FVYRRMTIRRMW0I'SRXI
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8'1EMHIRLEMV'STTMGI6,8'+6)%8-2%+9%RSVXL GSEWXVSEH2;*7'%7EPX4SRH,MPP*7'%7SYXL&E]VSEH*7'%6,8' 'RSTYWWT#MQTVIWWYW0I'SRXI
%2(637%XEPE'STTMGI*7'%6,8'*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%
+6)%8-2%+9%1EXXLI[8S[R*7'%RSVXLGSEWXVSEH2;*7'%2SVXL[IWX 4SMRX*7'%7EPX4SRH,MPP*7'%6,8'7SYXL&E]VSEH*7'%6,8'QM27EPX4SRH ,MPP*7'%
+EREWGYW ZIRXVMGSWYW0I'SRXI
%2(637%XEPE'STTMGI6,8'&ILVMRK4SMRX6,8''ETXEMR&MPPvW&PYI,SPI6,8'*SVJEV
*MIPH7XEXMSR*7'%6,8'1EMHIRLEMV'STTMGI*7'%6,8'OQ)0SRHSR'VIIO6,8' 1SRI]4SMRX6,8'9RGPI'LEVPMIvW&PYI,SPI*7'%+6)%8-2%+9%RSVXLGSEWXVSEH2
;*7'%
>SRERXIWWT
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8'+6)%8-2%+9%7EPX4SRH,MPP*7'%QM2 7EPX4SRH,MPP*7'%
#>SRERXIWWT
%2(637%XEPE'STTMGI6,8'9RGPI'LEVPMIvW&PYI,SPI6,8'
%23&--(%)
&]VVLSHIWWT
%2(6374MKISR'E]%RHIVWSR2);463:-()2')2EWWEY*7'%
'EP]QQEHIVYWWT
%2(637*SVJEV*MIPH7XEXMSR6,8'1EMHIRLEMV'STTMGI6,8' 'EP]QQEHIVYWWT
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8')0)98,)6%6EMRFS[&E]*7'%+6)%8-2%+9%
ZMG1MHHPI4SMRX*7'%6,8'RSVXLGSEWXVSEH2;*7'%2SVXL[IWX4SMRX
*7'%6,8'7EPX4SRH,MPP*7'%6,8'7SYXL&E]FIEGL6,8'7SYXL&E]VSEH*7'%
6,8'QM27EPX4SRH,MPP*7'%9RMSR'VIIO6IWIVZIIRXVERGI6,8' 'EP]QQEHIVYWWT
)0)98,)6%6EMRFS[&E]*7'%
'EXSVEQEWTSVWTT
)0)98,)6%)KK-WPERH;MGOLEQ7TERMWL;IPPW;MGOLEQ+6%2(&%,%1%
;EXIV'E];MGOLEQ
'V]TXSVEQEHIRWMTYRGXEXYW*MWLIVSVRV
%2(637&ILVMRK4SMRX6,8' 'V]TXSVEQE ZSVXMGEPI*EPP
%2(637&ILVMRK4SMRX6,8'*SVJEV*MIPH7XEXMSR*7'%6,8'OQ)0SRHSR'VIIO 6,8'4MKISR'E]%RHIVWSR)0)98,)6%6EMRFS[&E]*7'%+6)%8-2%+9%ZMG 1MHHPI4SMRX*7'%RSVXLGSEWXVSEH2;*7'%2SVXL[IWX4SMRX*7'%7EPX 4SRH,MPP*7'%7SYXL&E]VSEH*7'%
'V]TXSVEQE#RWT
%2(637*SVJEV*MIPH7XEXMSR*7'%
'V]TXSVEQE#RWT
+6)%8-2%+9%RSVXLGSEWXVSEH2;*7'%7EPX4SRH,MPP*7'%
'V]TXSVEQEWT
%2(637*SVJEV*MIPH7XEXMSR6,8' 'V]TXSVEQEWT
+68)%8-2%+9%2SVXL[IWX4SMRX6,8'7SYXL&E]VSEH6,8' 'V]TXSVEQEWT
%2(637%XEPE'STTMGI6,8')0)98,)6%6EMRFS[&E]*7'%
'V]TXSVEQEWT
+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH2;*7'%7EPX 4SRH,MPP*7'%
)YZVMPPIXXEWT
%2(637*SVJEV*MIPH7XEXMSR*7'%)0)98,)6%6EMRFS[&E]*7'%+6)%8-2%+9%ZMG 1MHHPI4SMRX*7'%7EPX4SRH,MPP*7'%7SYXL&E]VSEH*7'%QM27EPX4SRH,MPP*7'%
)YZVMPPIXXEWT
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8' )YZVMPPIXXEWT
%2(6374MKISR'E]%RHIVWSR +RSWXYW JPSVMHERYW&PEXGLPI]
2);463:-()2')'PMJXSR4SMRX0E[VIRGIERH6IMGLEVHX 0EWMSHIVQEWT
+6)%8-2%+9%7EPX4SRH,MPP*7'%6,8'7SYXL&E]VSEH*7'%
1IKSVEQEWT
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8')0)98,)6%6EMRFS[&E]*7'%
1MGVS^SKYWMRWSPIRW*EPP
%2(637&ILVMRK4SMRX6,8'*SVJEV'E]6,8'+6)%8-2%+9%WXVERH7SJ1MHHPI4SMRX 6,8'
4IXEPMYQQIHMSGEVMREXYQ*SVH
'32')48-32-70%2(&SSF]'E]*SVH 4IXEPMYQ]YGGEI*EPP
)0)98,)6%RSWTIGMJMGPSGEPMX]*SVH 4IXEPMYQFELEQIRWI*SVH
)0)98,)6%RSWTIGMJMGPSGEPMX]*SVH7%27%0:%(367SYXL:MGXSVME*SVH 4IXEPMYQWTSVWTT
%2(637%XEPE'STTMGI*7'%6,8''EVKMPP'VIIO6,8'QM77XEJJSVH'VIIO6,8'
*SVJEV*MIPH7XEXMSR*7'%6,8'1EMHIRLEMV'STTMGI*7'%6,8')0)98,)6%)KK-WPERH
;MGOLEQ+6)%8-2%+9%1EXXLI[8S[R6,8'7EPX4SRH,MPP*7'%6,8'7SYXL
&E]VSEH*7'%9RMSR'VIIO6IWIVZIIRXVERGI6,8' 4MXRYW LYIWERYW*MWLIV
%2(6374MKISR'E]%RHIVWSR+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%6,8' 4VSXLIGEHIRWE;LMXI
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8'1EMHIRLEMV'STTMGI*7'%6,8')0)98,)6%
6EMRFS[&E]*7'%+6)%8-2%+9%QM27EPX4SRH,MPP*7'%
4VSXLIGEWMRYEXE;LMXI
%2(637*SVJEV*MIPH7XEXMSR*7'%
4XMRYW GSRWXVMGXMGSPPMW&PEXGLPI]
%2(6374MKISR'E]%RHIVWSR 4XMRYWWXVERKYPEXYW*EPP
%2(637+YEVHMER&PYI,SPI*7'%+6)%8-2%+9%1EXXLI[8S[R6,8'7EPX4SRH,MPP 6,8'7SYXL&E]VSEH6,8'9RMSR'VIIO6IWIVZIIRXVERGI6,8'
7XEKIXYWWT
%2(637%XEPE'STTMGI6,8' 8VMGLSHIWQEWT
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8''EVKMPP'VIIO6,8'1EMHIRLEMV'STTMGI6,8' 7XEJJSVH'VIIO6,8')0)98,)6%6EMRFS[&E]*7'%)<91%,YQQMRKFMVH/I];SJ +ISVKIXS[R*7'%
8VMGLSHIWQEWT
%2(637*SVJEV*MIPH7XEXMSR*7'%)0)98,)6%6EMRFS[&E]*7'%
8VMGLSHIWQEWT
7398,&-1-2-RSWTIGMJMGPSGEPMX]*7'%
8VMGSV]RYW#WMQMPMW0I'SRXI
)0)98,)6%)KK-WPERH;MGOLEQ
8 8 8VMGSV]RYWWT
%2(637%XEPE'STTMGI*7'%*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%
8VMGSV]RYWWT
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8'1EMHIRLEMV'STTMGI6,8')0)98,)6%6EMRFS[
&E]*7'%+6)%8-2%+9%RSVXLGSEWXVSEH2;*7'%2SVXL[IWX4SMRX
*7'%6,8'7EPX4SRH,MPP*7'%6,8'7SYXL&E]VSEH*7'%6,8'9RMSR'VIIO6IWIVZI IRXVERGI6,8'
8VMGSV]RYWWT
%2(637%XEPE'STTMGI6,8'&ILVMRK4SMRX*7'%'ETXEMR&MPPvW&PYI,SPI6,8'*SVJEV
*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%1SRI]4SMRX*7'%)0)98,)6%6EMRFS[
&E] *7'% +6)%8 -2%+9% ZMG 1MHHPI 4SMRX *7'% 6,8' RSVXL GSEWX VSEH 2
;*7'%2SVXL[IWX4SMRX*7'%6,8'7EPX4SRH,MPP*7'%6,8'7SYXL&E]VSEH
*7'%6,8'QM27EPX4SRH,MPP*7'%
8VMGSV]RYWWT
+6)%8-2%+9%ZMG1MHHPI4SMRX6,8'7SYXL&E]VSEH*7'%6,8' 8VMGSV]RYWWT
+6)%8-2%+9%2SVXL[IWX4SMRX6,8'7EPX4SRH,MPP6,8'7SYXL&E]VSEH6,8'9RMSR 'VIIO6IWIVZIIRXVERGI6,8'
8VMGSV]RYWWT
%2(637*SVJEV*MIPH7XEXMSR*7'%
8VMGSV]RYWWT
%2(637*SVJEV*MIPH7XEXMSR*7'%
8VMGSV]RYWWT
%2(6371SRI]4SMRX*7'%6,8' 8VMGSV]RYWWT
)0)98,)6%6EMRFS[&E]*7'%
8VMGSV]RYWWT
%2(637&ILVMRK4SMRX6,8'1SRI]4SMRX6,8' 8VMGSV]RYWWT
+6)%8-2%+9%RSVXLGSEWXVSEH2;*7'%
8VMGSV]RYW#WT
)0)98,)6%7TERMWL;IPPW;MGOLEQ
%28,-'-(%)
%RXLMGYWERXMPPISVYQ;IVRIV
+6)%8-2%+9%1EXXLI[8S[R*7'%6,8'
%RXLMGYWWTWYFXMPMWWTIGMIWKVSYT
%2(6371EMHIRLEMV'STTMGI*7'%
']GPSHMRYWGEPMJSVRMGYW0E*IVXÍ7ÍRIGXÌVI
+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH2;*7'%7EPX 4SRH,MPP*7'%
7ETMRXYW JYPZMTIW0E*IVXÍ7ÍRIGXÌVI
%2(6371EMHIRLEMV'STTMGI*7'%
7XVMGXMGSQYWXSFMEW1EVWIYP
%2(6371EMHIRLEMV'STTMGI*7'%
%28,6-&-(%)
%GEVSQMQYWEQIVMGERYW1SXWGLYPWO]
%2(637RSWTIGMJMGPSGEPMX]:EPIRXMRI2);463:-()2')RSWTIGMJMGPSGEPMX]:EPIRXMRI
%GEVSQMQYWRWT:EPIRXMRI
2);463:-()2')RSWTIGMJMGPSGEPMX]:EPIRXMRI -WGLRSGIVYW MRJYWGEXYW*ÉLVEIYW
%2(637&ILVMRK4SMRX*7'%&S[IR7SYRH*7'%'EVKMPP'VIIO6,8'*SVJEV*MIPH7XEXMSR
*7'%6,8'.YRKPI4SRH*7'%1EMHIRLEMV'STTMGI*7'%6,8'1SVKERvW&PYJJ6,8' QM;7XEJJSVH'VIIO*7'%3[IRW8S[R*7'%7XEJJSVH'VIIO*7'%9RGPI'LEVPMIvW&PYI ,SPI*7'%)0)98,)6%RSWTIGMJMGPSGEPMX]:EPIRXMRI+6)%8%&%'3RSWTIGMJMGPSGEPMX]
:EPIRXMRI 3VQMWGYWWT
%2(637%XEPE'STTMGI6,8'&ILVMRK4SMRX*7'%1EMHIRLEMV'STTMGI*7'%
3VQMWGYWRWT:EPIRXMRI
%2(637RSWTIGMJMGPSGEPMX]:EPIRXMRI2);463:-()2')RSWTIGMJMGPSGEPMX]:EPIRXMRI
4LEIRSXLIVMSTWMW ZEYVMIM:EPIRXMRI
%2(637'EVKMPP'VIIO6,8'1EMHIRLEMV'STTMGI6,8'4MKISR'E]%RHIVWSR7398,
&-1-2-RSWTIGMJMGPSGEPMX]%12,:EPIRXMRI'%8-70%2(%VXLYVvW8S[R1'>':EPIRXMRI 2);463:-()2')RSWTIGMJMGPSGEPMX]:EPIRXMRI
4LSIRMGSFMIPPE GLEQEIVSTMW0I'SRXI
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8''633/)(-70%2(RSWTIGMJMGPSGEPMX]:EPIRXMRI )0)98,)6%RSWTIGMJMGPSGEPMX]:EPIRXMRI7398,&-1-2-RSWTIGMJMGPSGEPMX]
:EPIRXMRIERH 4MI^SGSV]RYWWYJJVMERM:EPIRXMRI
%2(637RSWTIGMJMGPSGEPMX]:EPIRXMRI 8S\SRSXYW JEWGMGYPEVMW7GLSIRLIVV
%2(637&ILVMRK4SMRX*7'%&S[IR7SYRH*7'%'EVKMPP'VIIO6,8'.YRKPI4SRH*7'%
1EMHIRLEMV'STTMGI*7'%1SRI]4SMRX6,8'QM;7XEJJSVH'VIIO*7'%7XEJJSVH'VIIO 6,8'9RGPI'LEVPMIvW&PYI,SPI*7'%&)66=-70%2(7*VE^MIVvW,SK'E]:EPIRXMRI 2);463:-()2')&PYI,MPP9721:EPIRXMRI2EWWEY1'>':EPIRXMRI2368,
&-1-2-RSWTIGMJMGPSGEPMX]:EPIRXMRI7398,&-1-2-RSWTIGMJMGPSGEPMX]:EPIRXMRI 8S\SRSXYWQIRHE\;SPJVYQ?!2IERXLVMFYW QIRHE\;SPJVYQA
%'/0-27RSWTIGMJMGPSGEPMX]:EPIRXMRI%2(637&ILVMRK4SMRX6,8'&S[IR7SYRH 6,8''EVKMPP'VIIO6,8'QM;7XEJJSVH'VIIO6,8'7XEJJSVH'VIIO6,8''%8 -70%2(RSWTIGMJMGPSGEPMX]:EPIRXMRI'633/)(-70%2(RSWTIGMJMGPSGEPMX]:EPIRXMRI +6)%8%&%'3RSWTIGMJMGPSGEPMX]:EPIRXMRI+6)%8-2%+9%RSWTIGMJMGPSGEPMX]
:EPIRXMRI7398,&-1-2-RSWTIGMJMGPSGEPMX]:EPIRXMRIERH 2I[KIRYWw)xRIEV+]QRSKREXLYW7GLSIRLIVVRI[WTIGMIW:EPIRXMRI
%2(637'EVKMPP'VIIO6,8'
%88)0%&-(%)
%YPIXSFMYWGYFERYW:SWW
2);463:-()2')RSWTIGMJMGPSGEPMX]';3'
%YPIXSFMYWWT
%2(637*SVJEV*MIPH7XEXMSR*7'%
)YWGIPYW EYVISPYW+]PPIRLEP
%2(6371ERKVSZI'E]%12,,EQMPXSRQM77SYXL&PEROIX7SYRH';3'+92 '%=RSWTIGMJMGPSGEPMX]%12,,EQMPXSR2);463:-()2')'PMJXSR*7'%';3' ,EQMPXSR7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,,EQMPXSR
&30&3')6%8-(%)
2ISEXL]VIYW ERHVSWIRWMW,S[HIR
%2(637QM7+SFM,S[HIR*SVJEV*MIPH7XEXMSR*7'%6,8',S[HIR1EMHIRLEMV 'STTMGI*7'%+6)%8%&%'31EVWL,EVFSYV*7'%
&3786-',-(%)
%QTLMGIVYW GSVRYXYW4EPPEW
%2(637&S[IR7SYRH*7'%6,8''EGXYW'STTMGI6,8'1EWXMG4SMRX6,8')0)98,)6%
6EMRFS[&E]*7'%+6)%8-2%+9%2SVXL[IWX4SMRX*7'%QM27EPX4SRH,MPP*7'%
6,8'
8 8 ,IXIVSFSWXV]GLYW EIUYEPMW;EXIVLSYWI
%2(6371SVKERvW&PYJJ*7'%7XEJJSVH'VIIO6,8' 1IPEPKYW NEQEMGIRWMW0IWRI
%2(637'EGXYW'STTMGI6,8'*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%1SRI]
4SMRX6,8'QM70SRHSR'VIIO*7'%7XEJJSVH'VIIO*7'%6,8')0)98,)6%6EMRFS[
&E]
7MRS\]PSRWT
)0)98,)6%7TERMWL;IPPW;MGOLEQ 8IXVETVMSGIVE PSRKMGSVRMW3PMZMIV
%2(637&S[IR7SYRH6,8''EVKMPP'VIIO6,8'QM77XEJJSVH'VIIO6,8'*SVJEV
*MIPH7XEXMSR*7'%6,8'1EMHIRLEMV'STTMGI6,8'1SRI]4SMRX*7'%1SVKERvW&PYJJ
*7'%2MGLSPPW8S[R6,8'7XEJJSVH'VIIO*7'%6,8')0)98,)6%6EMRFS[&E]*7'%
+6)%8-2%+9%RSVXLGSEWXVSEH2;*7'%2SVXL[IWX4SMRX*7'%QM 27EPX4SRH,MPP*7'%7398,&-1-2-RSWTIGMJMGPSGEPMX]:EYVMIF
8VSKS\]PSREIUYEPI;SPPEWXSR
+6)%8-2%+9%1EXXLI[8S[R*7'%
<]PSQIMVE XSVUYEXE*EFVMGMYW
%2(637&ILVMRK4SMRX6,8'QM77XEJJSVH'VIIO6,8'*SVJEV*MIPH7XEXMSR*7'%
6,8'1EWXMG4SMRX6,8'1EMHIRLEMV'STTMGI6,8'2MGLSPPW8S[R6,8')0)98,)6%
6EMRFS[&E]*7'%+6)%8-2%+9%1EXXLI[8S[R6,8'ZMG1MHHPI4SMRX*7'%RSVXL GSEWXVSEH2;*7'%2SVXL[IWX4SMRX*7'%7398,&-1-2-RSWTIGMJMG PSGEPMX]:EYVMIF
&38,6-()6-(%)
4VSP]GXYWWT?!)VSX]PEXLVMWSJ&PEGO[IPHIVA
%2(637&S[IR7SYRH*7'%'EVKMPP'VIIO6,8'1EMHIRLEMV'STTMGI*7'%)0)98,)6%
6EMRFS[&E]*7'%)<91%,YQQMRKFMVH'E]+ISVKIXS[R*7'%+6)%8-2%+9%7EPX4SRH ,MPP*7'%QM27EPX4SRH,MPP*7'%2);463:-()2')'EVQMGLEIPEVIE2Sv;Sv 9721
&6)28-(%)
%TMSR GJZIWXMXYQ+]PPIRLEP
%2(637*SVJEV*MIPH7XEXMSR*7'%
']PEW JSVQMGEVMYW*EFVMGMYW
%2(637'EVKMPP'VIIO*7'%6,8'*SVJEV*MIPH7XEXMSR*7'%6,8'1SRI]4SMRX6,8' 7%27%0:%(36RSWTIGMJMGPSGEPMX])PPMSXX
-\MEWQEVXMRI^M1EVWLEPP
+6)%8-2%+9%7EPX4SRH,MPP*7'%
-\MEW ZIWXMXYW+]PPIRLEP
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8' 4EVEXVEGLIPM^YW YRGMQERYW&SLIQER
%2(6371EMHIRLEMV'STTMGI*7'%
7XIRETMSR HS^MIVM/MWWMRKIV
7%27%0:%(367SYXL:MGXSVME/MWWMRKIV 7XIVISHIVQYW I\MPMW7YJJVMER
%2(637*SVJEV*MIPH7XEXMSR'12'1ERXMPPIVMERH7JSV^6,8'*VIWL'VIIO'12' 1ERXMPPIVMERH7JSV^1EMHIRLEMV'STTMGI*7'%+6)%8-2%+9%WXVERH7SJ1MHHPI4SMRX 6,8'IRXVERGI9RMSR'VIIO6IWIVZI6,8'
8VMGLETMSREREPSQYQ/MWWMRKIV
2);463:-()2')2EWWEY;LMXILIEH
&69',-(%)
%GERXLSWGIPMHIWJPEZIWGIRW*ÉLVEIYW
%2(6373[IRW8S[R6,8')0)98,)6%RV+VIKSV]8S[R*7'%
%GERXLSWGIPMHIW PETWEREI1SXWGLYPWO]
%2(637%XEPE'STTMGI*7'%
%GERXLSWGIPMHIW QEGVSTXLEPQYW7GLEIJJIV
%2(637*SVJEV*MIPH7XEXMSR6,8'1EWXMG4SMRX6,8'7XEJJSVH'VIIO*7'%+6)%8 -2%+9%1EXXLI[8S[R6,8'2SVXL[IWX4SMRX*7'%7EPX4SRH,MPP6,8'
%GERXLSWGIPMHIWRWT
+6)%8-2%+9%1EXXLI[8S[R*7'%)<91%,YQQMRKFMVH'E]+ISVKIXS[R*7'%
%QFP]GIVYWWGL[EV^M/MRKWSPZIV
+6)%8-2%+9%2SVXL[IWX4SMRX*7'%7SYXL&E]VSEH*7'%
'EV]SFVYGLYW KPIHMXWMEI0MRREIYW
%2(637*SVJEV*MIPH7XEXMSR*7'%7398,&-1-2-RSWTIGMJMGPSGEPMX]:EYVMIF+6)%8 -2%+9%2SVXL[IWX4SMRX*7'%6,8'7EPX4SRH,MPP*7'%6,8'7SYXL&E]VSEH*7'%
1IKEGIVYW GYFMGYPYW'EWI]
%2(6371EMHIRLEMV'STTMGI*7'%
1IVSFVYGLYWP]WMPSQEI/MRKWSPZIV
+6)%8-2%+9%1EXXLI[8S[R*7'%1%=%+9%2%RSWTIGMJMGPSGEPMX]/MRKWSPZIV 2);463:-()2')2EWWEY/MRKWSPZIV
7XEXSV FSXXMQIVM/MRKWSPZIV
%2(637'EGXYW'STTMGI*7'%*SVJEV*MIPH7XEXMSR*7'%6,8'1EMHIRLEMV'STTMGI6,8' 3[IRW8S[R*7'%7XEJJSVH'VIIO*7'%6,8'
&946)78-(%)
%GQEISHIVE GYFEIGSPE.EGUYIPMRHY:EP
)0)98,)6%7TERMWL;IPPW;MGOLEQ
%GQEISHIVE QEVKMRIRSXEXE'LIZVSPEX
7398,&-1-2-RSWTIGMJMGPSGEPMX]'E^MIV:EYVMIF
%GQEISHIVE [MGOLEQM*MWLIV
)0)98,)6%RSWTIGMJMGPSGEPMX]'E^MIV
%GXIRSHIW EYVSRSXEXE FVIHIVM'E^MIV
%2(637&ILVMRK4SMRX*7'%6,8'&S[IR7SYRH*7'%*SVJEV*MIPH7XEXMSR6,8'1SVKERvW
&PYJJ6,8'3[IRW8S[R*7'%7XEJJSVH'VIIO*7'%'%78%;%=+36(%'%=RSWTIGMJMG PSGEPMX]*7'%7398,&-1-2-+YR'E]%12,'E^MIVRSWTIGMJMGPSGEPMX]%12,'E^MIV :EYVMIF
%TLERMWXMGLYWGSGLMRGLMREIWIQMRYPYQ3FIRFIVKIV
%2(6377QEPP,STI6,8' 'LV]WSFSXLVMW GLV]WSIPE PIVRIVM'E^MIV
%2(637&ILVMRK4SMRX*7'%6,8'&S[IR7SYRH6,8'*SVJEV*MIPH7XEXMSR*7'%6,8' 1EMHIRLEMV'STTMGI6,8'1SVKERvW&PYJJ6,8'7XEJJSVH'VIIO*7'%'%78%;%=+36(%
'%=RSWTIGMJMGPSGEPMX]*7'%7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,'E^MIV:EYVMI F
'LV]WSFSXLVMW PITMHE'EWXIPREYERH+SV]
032+-70%2(RSWTIGMJMGPSGEPMX]'E^MIV*MWLIVF 'LV]WSFSXLVMWQIKEGITLEPYW'EWXIPREYERH+SV]
+6)%8-2%+9%WXVERH7SJ1MHHPI4SMRX6,8'7EPX4SRH,MPP*7'%
'LV]WSFSXLVMW WI\JEWGMEXE7GLEIJJIV
7%27%0:%(36RSWTIGMJMGPSGEPMX])PPMSXX7398,&-1-2-RSWTIGMJMGPSGEPMX]'E^MIV :EYVMIF
'LV]WSFSXLVMW XVERUYIFEVMGE+QIPMR
%2(637&ILVMRK4SMRX*7'%1ERKVSZI'E]'E^MIV'%78%;%=+36(%'%=RSWTIGMJMG PSGEPMX]*7'%7%27%0:%(36RSWTIGMJMGPSGEPMX])PPMSXX7398,&-1-2-RSWTIGMJMG PSGEPMX]'E^MIV
'MR]VE FELEQMGE'E^MIV
7398,&-1-2-RSWTIGMJMGPSGEPMX]'E^MIV)0)98,)6%7TERMWL;IPPW;MGOLEQ
8 8 0EQTIXMW7TMRXLSTXIVEFELEQMGE*MWLIV?!4WMPSTXIVE FELEQMGE*MWLIVA
%2(637'EVKMPP'VIIO6,8'*SVJEV*MIPH7XEXMSR6,8'+YEVHMER&PYI,SPI*7'%6,8' )0)98,)6%RSWTIGMJMGPSGEPMX]'E^MIV7398,&-1-2-RSWTIGMJMGPSGEPMX]'E^MIV :EYVMIF
1EWXSKIRMYW GEWXPIM'LEQTPEMRERH/RYPP?!1EWXSKIRMYW ERXIRREXYW'E^MIVA 7398,&-1-2-RSWTIGMJMGPSGEPMX]'E^MIV
1EWXSKIRMYWWT
+6)%8-2%+9%1EXXLI[8S[R6,8'7EPX4SRH,MPP6,8' 1IPERSTLMPE RSXEXE'EWXIPREYERH+SV]
2);463:-()2')2EWWEY'E^MIV2368,&-1-2-RSWTIGMJMGPSGEPMX]:EYVMIF 7398,&-1-2-RSWTIGMJMGPSGEPMX]'E^MIV
4EVEX]RHEVMW/RYPPMIPPEWYXYVEPMW*EPP
%2(637&ILVMRK4SMRX6,8''EGXYW'STTMGI6,8''SRGL7SYRH6,8'*SVJEV*MIPH7XEXMSR
*7'%2368,&-1-2-RSWTIGMJMGPSGEPMX]:EYVMIF7398,&-1-2-RSWTIGMJMGPSGEPMX]
'E^MIV:EYVMIF 4SP]GIWXE EFHMXE'E^MIV
7398,&-1-2-RSWTIGMJMGPSGEPMX]'E^MIV:EYVMIF 4SP]GIWXE ERKYPSWE.EGUYIPMRHY:EP
%2(637'SRGL7SYRH6,8'+YEVHMER&PYI,SPI6,8'7398,&-1-2-RSWTIGMJMGPSGEPMX]
'E^MIV:EYVMIF 4SP]GIWXE KSV]M7EYRHIVW
+6%2(&%,%1%;EXIV'E]'E^MIV 4SP]GIWXE QERRM*MWLIV
%2(637'EGXYW'STTMGI6,8'1ERKVSZI'E]'E^MIV
<IRSVLMTMW ZEYVMIM'E^MIV
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,'E^MIV:EYVMIFEW<IRSVLMTMWRWT
<IRSVLMTMWWT
+6)%8-2%+9%7EPX4SRH,MPP6,8' '%28,%6-(%)
'LEYPMSKREXLYW QEVKMREXYW*EFVMGMYW
+6%2(&%,%1%&VSSO[SSH*EVQ*7'%;EPPEGI*EVQ*7'%+6)%8%&%'3RSWTIGMJMG PSGEPMX]0IRKERH1YXGLPIV
7MPMW QEVKMRIPPE.EGUYIPMRHY:EP
%2(6371EMHIRLEMV'STTMGI*7'%6,8' 8]XXLSR]\FELEQIRWMW;MXXQIV
+6)%8%&%'31EVWL,EVFSYV%12,;MXXQIV '%6%&-(%)
%GYTEPTYW PSRKYPYW(INIER
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR
%ITLRMHMYW%ITLRMHMYWGMPMEXYW1YXGLPIV
w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR4IGO
%KSRYQ GSTXSHIVSMHIW(EVPMRKXSR
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR
%KSRYQ HIGSVYQ7E]
%2(637%XEPE'STTMGI*7'%*SVJEV*MIPH7XEXMSR*7'%
%KSRYQ IPSRKEXYPYQ(INIER?!%KSRYQ JPSVMHERYQ0I'SRXIA
%2(637*SVJEV*MIPH7XEXMSR6,8'2368,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR 7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR
%REYPEGYWGMPMEXYW1YXGLPIV
+6)%8-2%+9%2SVXL[IWX4SMRX*7'%
%REXVMGLMW QMRYXE,SVR
%2(637'EVKMPP'VIIO*7'%
%REXVMGLMWSFPSRKE,SVR
032+-70%2((IEHQERvW'E]%12,
%TIRIWGSVMEGIE'LIZVSPEX
w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR4IGO
%TIRIW HIPMGEXE PEIZMSV(EVPMRKXSR
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,1'>'(EVPMRKXSR
%TIRIW PEXE(EVPMRKXSR
%2(637*SVJEV*MIPH7XEXMSR*7'%1ERKVSZI'E](EVPMRKXSR7398,&-1-2-RSWTIGMJMG PSGEPMX]%12,(EVPMRKXSR
%TIRIW STEGYW0I'SRXI
)0)98,)6%7TERMWL;IPPW;MGOLEQ
%TIRIW TEVEPPIPE MREKYE(EVPMRKXSR
?+6)%8#A-2%+9%RSWTIGMJMGPSGEPMX]1'>'(EVPMRKXSR
%TIRIW TEVEPPIPE TEVEPPIPE(INIER
%2(637*SVJEV*MIPH7XEXMSR*7'%)0)98,)6%RSWTIGMJMGPSGEPMX](EVPMRKXSR7TERMWL
;IPPW;MGOLEQ?XLMWPEXXIVVIGSVH[EWVIGSVHIHEW%TIRIWSTEGYW0I'SRXIFYX[EWEQMWMHIRXMJMIH I\EQTPISJXLITVIWIRXWTIGMIWWII(EVPMRKXSRA2);463:-()2')RSWTIGMJMGPSGEPMX]
(EVPMRKXSR7%27%0:%(36?;%80-2+-70%2(ARSWTIGMJMGPSGEPMX](EVPMRKXSR
%TIRIW WGSFMJIVEQIPEIRE&EPPERH7LTIPI]
1%=%+9%2%-70%2(%XPERXMG1MWWMPI6ERKI*7'%
%TIRIWWGSFMJIVE(EVPMRKXSRRWWT
+6)%8 -2%+9% ZMG 1MHHPI 4SMRX *7'% RSVXL GSEWX VSEH 2 ; *7'%
2SVXL[IWX4SMRX*7'%7EPX4SRH,MPP*7'%7SYXL&E]VSEH*7'%
%TIRIW WYPGMGSPPMW.EGUYIPMRHY:EP
2);463:-()2')RSWTIGMJMGPSGEPMX](EVPMRKXSR1'>'
%TIRIWRWT
+6)%8 -2%+9%ZMG1MHHPI4SMRX *7'%RSVXLGSEWX VSEH 2 ; *7'%
2SVXL[IWX4SMRX*7'%
%WTMHSKPSWWE QI\MGERE'LEYHSMV?!%WTMHSKPSWWE ZYPRIVEXE4YX^I]WA
%2(637*SVJEV*MIPHWXEXMSR6,8''%8-70%2(%VXLYVW8S[R(EVPMRKXSR1'>'
%\MRSTEPTYWRWT
+6)%8-2%+9%7EPX4SRH,MPP*7'%
&EHMWXIV JPEZMTIW0I'SRXI
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR
&EHMWXIV VIJPI\YW0I'SRXI?!&EHMWXIV WIGPYWYW&PEXGLPI]A
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8'3[IRW8S[R*7'%'%8-70%2(%VXLYVW8S[R (EVPMRKXSR1'>'+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH2
;*7'%2SVXL[IWX4SMRX*7'%7EPX4SRH,MPP*7'%7SYXL&E]VSEH*7'%QM 27EPX4SRH,MPP*7'%
&IQFMHMSR GLIZVSPEXM+IQQMRKIVERH,EVSPH
'%8-70%2(%VXLYVW8S[R(EVPMRKXSR1'>'
&IQFMHMSRJEWXMHMSWYQ0E*IVXÍ7ÍRIGXÌVI +6)%8-2%+9%7SYXL&E]VSEH*7'%
&IQFMHMSR ZMVMHMGSPPI0E*IVXÍ7ÍRIGXÌVI
%2(637%XEPE'STTMGI6,8'*SVJEV*MIPH7XEXMSR*7'%6,8'1EMHIRLEMV'STTMGI*7'%
1EWXMG4SMRX6,8'+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%2SVXL[IWX4SMRX*7'%7EPX 4SRH,MPP*7'%QM27EPX4SRH,MPP*7'%
&IQFMHMSRWTSVWTT
%2(6374MKISR'E]%RHIVWSR7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR
&VEH]GIPPYW XERXMPPYW(INIER
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR
8 8 'EPPIMHE FELEQIRWMW(EVPMRKXSR
2368,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR7398,&-1-2-RSWTIGMJMGPSGEPMX]
%12,(EVPMRKXSR1'>' 'EPPIMHE HIGSVE*EFVMGMYW
+6%2(&%,%1%)MKLX1MPI6SGO(EVPMRKXSR1'>' 'EPSWSQE WTPIRHMHYQ(INIER
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8' 'LPEIRMYW JPSVMHERYW,SVR
?+6)%8#A-2%+9%RSWTIGMJMGPSGEPMX](EVPMRKXSR1'>' 'LPEIRMYW QE\MPPSWYW,SVR
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR 'MGMRHIPEFSSTW(INIER
+6)%8-2%+9%1EXXLI[8S[R6,8'2SVXL[IWX4SMRX*7'%7EPX4SRH,MPP*7'%7SYXL
&E]VSEH*7'%QM27EPX4SRH,MPP*7'%IRXVERGI9RMSR'VIIO6IWIVZI6,8' 'MGMRHIPE QEVKMREXE*EFVMGMYW
%2(637'SRGL7SYRH6,8'1SRI]4SMRX6,8'6IH&E]W6,8')0)98,)6%7TERMWL
;IPPW;MGOLEQ+6)%8-2%+9%7EPX4SRH,MPP*7'%7SYXL&E]VSEH*7'%QM2 7EPX4SRH,MPP*7'%2368,&-1-2-RSWTIGMJMGPSGEPMX]:EYVMIF7398,&-1-2-RS WTIGMJMGPSGEPMX]:EYVMIF
'MGMRHIPE XVMJEWGMEXE XVMJEWGMEXE*EFVMGMYW?!'MGMRHIPE XSVXYSWE(INIERA
%2(637'EPEFEWL&E]6,8'*SVJEV*MIPH7XEXMSR6,8'1SRI]4SMRX6,8'6IH&E]W 6,8')0)98,)6%7TERMWL;IPPW;MGOLEQ+6)%8-2%+9%1EXXLI[8S[R6,8' 7EPX4SRH,MPP*7'%QM27EPX4SRH,MPP*7'%7SYXL&E]VSEH*7'%7%27%0:%(36 RIEV*VIRGL&E])PPMSXXERH7EPFIVXFIX[IIR7XSVVWvW0EOIERH+VERR]0EOI)PPMSXXERH 7EPFIVXRIEV;EXPMRKvW'EWXPI)PPMSXXERH7EPFIVXwWSYXLIEWXIVRXMTx)PPMSXXERH7EPFIVX
'PMZMRE EQIVMGERE(INIER
w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR2MGLSPW 'PMZMREFMKYXXEXE4YX^I]W
+6)%8-2%+9%2SVXL[IWX4SMRX*7'%
'PMZMRE JEWGMEXE4YX^I]W?!(]WGLMVMYWMRWYPEVMW.EGUYIPMRHY:EPA w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR2MGLSPW 'PMZMRE QSVYPE0I'SRXI
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR 'STXSHIVE TMGIE(INIER
%2(637&S[IR7SYRH6,8'1EMHIRLEMV'STTMGI*7'%6,8' (MWGSHIVYWFIEYZSMWM(INIER
w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR4IGO (]WGLMVMSHIW PEVSGLIPPIM&SYWUYIX
%2(637%XEPE'STTMGI*7'%*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%3[IRW 8S[R*7'%+6)%8-2%+9%1EXXLI[8S[R6,8'ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH 2;*7'%2SVXL[IWX4SMRX*7'%7EPX4SRH,MPP*7'%
(]WGLMVMSHIWWYFPEIZMW4YX^I]W
+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%QM27EPX4SRH,MPP*7'%
(]WGLMVMSHIWIV]XLVSGIVYW0I'SRXI
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR )PETLVSTYWWT
%2(6374MKISR'E]%RHIVWSR )YTLSVXMGYW TYFIWGIRW EIRISPYW&EXIW
%2(6371EMHIRLEMV'STTMGI*7'%
)YTLSVXMGYWWT
%2(637*SVJEV*MIPH7XEXMSR6,8' +EPIVMXE PIGSRXIM(INIER
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR
,EPSGSV]^E EVIREVME(EVPMRKXSR
w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR2MGLSPW ,EVTEPYW TIRW]PZERMGYW(I+IIV
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR 0IFME EREPMW(INIER
%2(637%XEPE'STTMGI6,8'*SVJEV*MIPH7XEXMSR*7'%
0IFME FMXEIRMEXE'LIZVSPEX
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8' 0IFME G]ERIE(INIER
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR 0IFME IWYVMEPMW'EWI]
%2(637*SVJEV*MIPHWXEXMSR6,8'1EMHIRLEMV'STTMGI*7'%
0IFMEWTRIEVQIPERSTXIVE'LEYHSMV
%2(637*SVJEV*MIPH7XEXMSR*7'%
0IFMEWT
+6)%8-2%+9%RSVXLGSEWXVSEH2;*7'%7EPX4SRH,MPP6,8' 0S\ERHVYW GIPIVMW(INIER
'%8-70%2(%VXLYVW8S[R(EVPMRKXSR1'>'?+6)%8#A-2%+9%RSWTIGMJMGPSGEPMX]
(EVPMRKXSR1'>' 0S\ERHVYW GYFERYW8WGLMXWGLÍVMRI
+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH2;*7'%2SVXL[IWX 4SMRX*7'%7EPX4SRH,MPP*7'%
0S\ERHVYW JPSVMHERYW0I'SRXI
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR 0S\ERHVYWVIGXERKYPYW0I'SRXI
+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH2;*7'%2SVXL[IWX 4SMRX*7'%QM27EPX4SRH,MPP*7'%
1IKEGITLEPE GEVSPMRE0MRREIYW
7%27%0:%(363PH2EZEP&EWIEX+VELEQvW,EVFSYV)PPMSXXERH7EPFIVX 1IRMHMYWEQERHYWEQERHYW2I[QER
%2(637'EGXYW'STTMGI6,8'*SVJEV*MIPH7XEXMSR*7'%6,8'1EMHIRLEMV'STTMGI6,8' 7SJ*VIWL'VIIO*7'%7XEJJSVH'VIIO6,8'
1IRMHMYW EQERHYW HMWGSMHIYW7GLEYTT
2368,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR 1IRMHMYWEQERHYWRWWT
+6)%8-2%+9%WXVERH7SJ1MHHPI4SMRX6,8'RSVXLGSEWXVSEH2;*7'%
2SVXL[IWX4SMRX*7'%6,8'7EPX4SRH,MPP*7'%6,8'7SYXL&E]VSEH*7'%QM2 7EPX4SRH,MPP*7'%IRXVERGI9RMSR'VIIO6IWIVZI6,8'
1MGVEXSTYW MRWYPEVMW(EVPMRKXSR
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR 1MGVEXSTYWWT
+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH2;*7'%
3SHMRYW TWIYHSTMGIYW&SYWUYIX
%2(637*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%4MKISR'E]EW3SHMRYW TMGIYW 1SXWGLYPWO]%RHIVWSR+6)%8-2%+9%7EPX4SRH,MPP*7'%
3\]HVITERYW VYJYW4YX^I]W
+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH2;*7'%2SVXL[IWX 4SMRX*7'%
4EVEXEGL]WWT
%2(637%XEPE'STTMGI*7'%*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%3[IRW 8S[R*7'%+6)%8-2%+9%1EXXLI[8S[R6,8'ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH 2;*7'%2SVXL[IWX4SMRX*7'%7EPX4SRH,MPP*7'%WXVERH7SJ1MHHPI 4SMRX6,8'
8 8 4EVEXEGL]WWT
%2(637*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%3[IRW8S[R*7'%
4EVEXEGL]WWT
+6)%8-2%+9%1EXXLI[8S[R6,8'2SVXL[IWX4SMRX*7'%7EPX4SRH,MPP*7'%
4EVEXEGL]WWT
+6)%8-2%+9%7EPX4SRH,MPP*7'%
4IRXEKSRMGE JPEZMTIW JPEZMTIW0I'SRXI
%2(637%XEPE'STTMGI*7'%*SVJEV*MIPH7XEXMSR*7'%6,8'1EMHIRLEMV'STTMGI*7'%
RSWTIGMJMGPSGEPMX](EVPMRKXSR9721+6)%8-2%+9%RSVXLGSEWXVSEH2;
*7'%7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR 4IRXEKSRMGE RMKVMGSVRMW(EVPMRKXSR
%2(6371EMHIRLEMV'STTMGI*7'%+6)%8-2%+9%RSVXLGSEWXVSEH2;
*7'%2SVXL[IWX4SMRX*7'%
4IVMKSRE RMKVMGITW(INIER
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8'7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR
4PEX]RYWGSTXSHIVSMHIW(EVPMRKXSR
%2(637*SVJEV*MIPH7XEXMSR0MIFLIVV)<91%7MQSRvW4SMRX0MIFLIVV2);
463:-()2')2EWWEY&PYI,MPPW0MIFLIVV7398,&-1-2-RSWTIGMJMGPSGEPMX]0MIFLIVV
4PSGLMSRYW TEPPIRW*EFVMGMYW?!1IRMHMYW TEPPIRW*EFVMGMYWA )0)98,)6%7TERMWL;IPPW;MGOLEQ
4SKSRSHETXYWVSWXVEXYW(EVPMRKXSR
+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH2;*7'%2SVXL[IWX 4SMRX*7'%
7GEVMXIW QEVMRYW2MGLSPW
)0)98,)6%RSWTIGMJMGPSGEPMX]2MGLSPW9721 7GEVMXIWWTTVSFEFP]WYFXIVVERIYW*EFVMGMYW
)0)98,)6%7TERMWL;IPPW;MGOLEQ 7IPIRSTLSVYWEPXIVRERW(INIER
w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR4IGO 7IPIRSTLSVYW GLEP]FIYW(INIER
%2(637RSWTIGMJMGPSGEPMX](EVPMRKXSR'%8-70%2(RSWTIGMJMGPSGEPMX](EVPMRKXSR 032+-70%2(RSWTIGMJMGPSGEPMX](EVPMRKXSR2);463:-()2')RSWTIGMJMGPSGEPMX]
(EVPMRKXSR7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR 7IPIRSTLSVYW GYFERYW GYFERYW(EVPMRKXSR
%2(637*SVJEV*MIPH7XEXMSR*7'%
7IPIRSTLSVYW HMWGSTYRGXEXYW(INIER
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8''%8-70%2(RSWTIGMJMGPSGEPMX](EVPMRKXSR 1'>'+6%2(&%,%1%RSWTIGMJMGPSGEPMX](EVPMRKXSR1'>'+6)%8-2%+9%7EPX 4SRH,MPP*7'%7SYXL&E]VSEH*7'%
7IPIRSTLSVYW JPEZMPEFVMW(INIER
w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR4IGO 7IPIRSTLSVYW MRXIKIV*EFVMGMYW
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8' 7IPIRSTLSVYW TEPPMEXYW*EFVMGMYW
2368,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR7398,&-1-2-RSWTIGMJMGPSGEPMX]
%12,(EVPMRKXSR 7IPIRSTLSVYW TVSTMRUYYW4YX^I]W
%2(637*SVJEV*MIPHWXEXMSR6,8'3[IRW8S[R*7'%
7IPIRSTLSVYW T]VMXSWYW(INIER?!7IPIRSTLSVYW EPXIVRERW T]VMXSWYW(INIERA
%2(637*SVJEV*MIPH7XEXMSR*7'%)0)98,)6%RSWTIGMJMGPSGEPMX](EVPMRKXSR1'>' 97212);463:-()2')RSWTIGMJMGPSGEPMX](EVPMRKXSR1'>'
7IPIRSTLSVYW WMRYEXYW+]PPIRLEP
%2(637%XEPE'STTMGI*7'%'EVKMPP'VIIO*7'%*SVJEV*MIPH7XEXMSR*7'%6,8'1EMHIRLEMV 'STTMGI*7'%4MKISR'E]%RHIVWSR'%8-70%2(RSWTIGMJMGPSGEPMX](EVPMRKXSR +6)%8-2%+9%7EPX4SRH,MPP*7'%+6)%8%&%'3&ELEQE7XEV+VSZIW*7'%2368,
&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR7398,&-1-2-RSWTIGMJMGPSGEPMX]%12, (EVPMRKXSR
7IPIRSTLSVYW WXVMEXSTYRGXEXYW4YX^I]W
%2(637%XEPE'STTMGI6,8'*SVJEV*MIPH7XEXMSR*7'%6,8'3[IRW8S[R*7'%7398,
&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR 7IQMEVHMWXSQMW ZMVMHMW7E]
w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR2MGLSPW 7XIRSGVITMW HYSHIGMQWXVMEXE'LIZVSPEX
%2(637%XEPE'STTMGI6,8'*SVJEV*MIPH7XEXMSR6,8'1EMHIRLEMV'STTMGI6,8''%8 -70%2(RSWTIGMJMGPSGEPMX](EVPMRKXSR+6)%8-2%+9%2SVXL[IWX4SMRX*7'%7EPX 4SRH,MPP*7'%?+6)%8#A-2%+9%RSWTIGMJMGPSGEPMX](EVPMRKXSR7398,&-1-2-RS WTIGMJMGPSGEPMX]%12,(EVPMRKXSR
7XIRSGVITMWQI\MGERYW'LIZVSPEX
+6)%8-2%+9%2SVXL[IWX4SMRX*7'%
7XIRSPSTLYWMRJYWGEXYW0I'SRXI
+6)%8-2%+9%1EXXLI[8S[R6,8'ZMG1MHHPI4SMRX*7'%2SVXL[IWX4SMRX*7'%7EPX 4SRH,MPP*7'%
7XIRSPSTLYW SGLVSTI^YW7E]
%2(637RSWTIGMJMGPSGEPMX](EVPMRKXSR?+6)%8#A-2%+9%RSWTIGMJMGPSGEPMX](EVPMRKXSR 7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR
8EGL]W-WSXEGL]WSGGYPXEXSV'EWI]?TVSZMWMSREPHIXIVQMREXMSREJXIV(EVPMRKXSRA
%2(637RSWTIGMJMGPSGEPMX](EVPMRKXSR'%8-70%2(RSWTIGMJMGPSGEPMX](EVPMRKXSR -2%+9%-70%2(7RSWTIGMJMGPSGEPMX](EVPMRKXSR7398,&-1-2-RSWTIGMJMGPSGEPMX]%12, (EVPMRKXSR
8EGL]W1MSTXEGL]W\ERXLSTYW(INIER
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR
8EGL]W8EGL]WGSVYWGYW0I'SRXI?TVSZMWMSREPHIXIVQMREXMSREJXIV(EVPMRKXSRA 7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR
8EGL]W8EGL]WZSVE\0I'SRXI?TVSZMWMSREPHIXIVQMREXMSREJXIV(EVPMRKXSRA 7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR
8EGL]WWTSVWTT
%2(637*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%4MKISR'E]%RHIVWSR 8EGL]WGJZMXXMKIV0I'SRXI
+6)%8-2%+9%1EXXLI[8S[R6,8'WXVERH7SJ1MHHPI4SMRX6,8'ZMG1MHHPI4SMRX*7'%
2SVXL[IWX4SMRX*7'%7EPX4SRH,MPP*7'%7SYXL&E]VSEH*7'%QM27EPX4SRH,MPP
*7'%
8IXVEKSRSHIVYW MRXIVWIGXYW+IVQEV
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,(EVPMRKXSR 8LEPTMYW GYFERYW'LEYHSMV
%2(637%XEPE'STTMGI*7'%*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%3[IRW 8S[R*7'%+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH2;
*7'%2SVXL[IWX4SMRX*7'%
8LEPTMYWHSVWEPMW&VYPPÍ
+6)%8-2%+9%QM27EPX4SRH,MPP*7'%
')6%1&='-(%)
%GERXLSGMRYWSFWSPIXYW3PMZMIV
+6)%8%&%'31EVWL,EVFSYV*7'%
%IKSQSVTLYW QSHIWXYW+]PPIRLEP?!%GERXLSHIVIW QSHIWXE+]PPIRLEPA w&%,%1%-70%2(7x&VS[RIIXEP'E^MIVERH0EGI]
8 8
%PGMHMSR YQFVEXMGYQ.EGUYIPMRHY:EP
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8'*VIWL'VIIO&VS[RIIXEP1EMHIRLEMV'STTMGI
*7'%6,8'9RGPI'LEVPMIvW&PYI,SPI*7'%6,8')0)98,)6%6EMRFS[&E]*7'%
%RIPETLYW GMRIVIYW3PMZMIV?!%RSTPMYQ RERYQ*EFVMGMYWA
%2(637%HHIVP]vW4PEGI&VS[RIIXEP&%6',SYWI2YQFIV&VS[RIIXEP&S[IR 7SYRH*7'%6,8''('*EVQW&VS[RIIXEP*SVJEV*MIPH7XEXMSR&VS[RIIXEP
*7'%6,8'*VIWL'VIIO&VS[RIIXEP0I[MW'STTMGI&VS[RIIXEP0SRHSR6MHKI
&VS[RIIXEP1ERKVSZI'E]'E^MIVERH0EGI]1SVKERvW&PYJJ6,8'2&PEROIX 7SYRH&VS[RIIXEP3[IRW8S[R*7'%6,8'6IH&E]W&VS[RIIXEP6SGO]vW&EV
&VS[RIIXEP7ER%RHVSW&VS[RIIXEP7LSXKYR'STTMGI&VS[RIIXEP7
&PEROIX7SYRH&VS[RIIXEP7XEJJSVH'VIIO6,8'QM7*SVJEV*MIPH7XEXMSRSR5YIIRvW ,MKL[E]&VS[RIIXEP)0)98,)6%6EMRFS[&E]*7'%)<91%RSWTIGMJMGPSGEPMX]
&VS[RIIXEP18)'+6%2(&%,%1%;IWX)RH'E^MIVERH0EGI]+6)%8-2%+9%
2SVXL[IWX4SMRX*7'%032+RSWTIGMJMGPSGEPMX]&VS[RIIXEP7%27%0:%(36?;%80-2+
-70%2(ARSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]18)'7398,&-1-2- RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]18)':EYVMIF
%RIPETLYW JEWGMEXYQ*MWLIV?!)PETLMHMSR JEWGMEXYQ*MWLIVA
%2(637*SVJEV*MIPH7XEXMSR6,8')0)98,)6%6EMRFS[&E]*7'%)<91%,YQQMRKFMVH 'E];SJ+ISVKIXS[R*7'%7398,&-1-2-RSWTIGMJMGPSGEPMX]'E^MIVERH0EGI]*7'%
:EYVMIF
%RIPETLYW MRIVQMW2I[QER
%2(637'('*EVQW&VS[RIIXEP*SVJEV*MIPH7XEXMSR&VS[RIIXEP*VIWL'VIIO
&VS[RIIXEP0I[MW'STTMGI&VS[RIIXEP1ERKVSZI'E]'E^MIVERH0EGI]
*MWLIV2&PEROIX7SYRH&VS[RIIXEP6IH&E]W&VS[RIIXEP7ER%RHVSW
&VS[RIIXEP7LSXKYR'STTMGI&VS[RIIXEP)0)98,)6%6EMRFS[&E]*7'%
7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]:EYVMIF
%RIPETLYW QYXEXYQ+ELER?!4EVIPETLEHMSR QYXEXSV?WMGA+ELERA )0)98,)6%6EMRFS[&E]*7'%
%RSTPMSQSVTLE ERXMPPEVYQ*MWLIV?!%RSTPMSQSVTLE \]PIFSVE'E^MIVERH0EGI]A
%2(6372&PEROIX7SYRH&VS[RIIXEP'EGXYW'STTMGI6,8'*SVJEV*MIPH7XEXMSR&VS[RI IXEP6,8'*VIWL'VIIO&VS[RIIXEP1EMHIRLEMV'STTMGI6,8'6SGO]vW&EV
&VS[RIIXEP7ER%RHVSW&VS[RIIXEP)0)98,)6%)KK-WPERH'E^MIVERH0EGI]
6EMRFS[&E]*7'%)<91%RSWTIGMJMGPSGEPMX]&VS[RIIXEP18)'7398,&-1-2- RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]:EYVMIF
%VLSTEPYW VYWXMGYW RYFMPYW0I'SRXI
%2(6372&PEROIX7SYRH&VS[RIIXEP*SVJEV*MIPH7XEXMSR&VS[RIIXEP*7'%
6,8'7ER%RHVSW&VS[RIXEP+6%2(&%,%1%RSWTIGMJMGPSGEPMX]'LIQWEO +6)%8%&%'31EVWL,EVFSYV*7'%
%XE\ME WTMRMGEYHE7GLEIJJIV
%2(637%XEPE'STTMGI6,8'&ILVMRK4SMRX*7'%6,8''EVKMPP'VIIO6,8'*SVJEV*MIPH 7XEXMSR&VS[RIIXEP*7'%6,8'1EMHIRLEMV'STTMGI*7'%1ERKVSZI'E]'E^MIVERH 0EGI]1IRRIRMXIvW*EVQ&VS[RIIXEP2&PEROIX7SYRH&VS[RIIXEPQM;
7XEJJSVH'VIIO*7'%6,8'7XEJJSVH'VIIO&VS[RIIXEP*7'%6,8')0)98,)6%
)KK-WPERH'E^MIVERH0EGI]6EMRFS[&E]*7'%+6)%8%&%'31ERS;EV'E]&VS[RI IXEP+6)%8-2%+9%RSVXLGSEWXVSEH2;*7'%7SYXL&E]VSEH
*7'%2);463:-()2')&PYI,MPP2EWWEY'E^MIVERH0EGI]RSWTIGMJMGPSGEPMX]&VS[RI IXEP7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP
&IFMPMW WGL[EV^M*MWLIV
%2(6371EMHIRLEMV'STTMGI*7'%8LSQEWERH8YVRFS[
'EPSGSWQYW ZIRYWXYW'LIZVSPEX
7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]:EYVMIF 'EPPMTSKSR(IRHVSFPETXYWFEVFMJPEZYQ'LIZVSPEX
%2(637*SVJEV*MIPH7XEXMSR*7'%8LSQEWERH8YVRFS[+6%2(&%,%1%RSWTIGMJMG PSGEPMX]&VS[RIIXEP'LIQWEO
'EVMFFSQIVYW EXXIRYEXYW'LIZVSPEX?!1IVSWXIRYW EXXIRYEXYW'LIZVSPEXA
%2(637*SVJEV*MIPH7XEXMSR&VS[RIIXEP6,8'*VIWL'VIIO&VS[RIIXEP2
&PEROIX7SYRH&VS[RIIXEP6SGO]vW&EV&VS[RIIXEP7&PEROIX7SYRH&VS[RIIXEP 7XEJJSVH'VIIO6,8'&33&='%=RSWTIGMJMGPSGEPMX]&VS[RIIXEP'633/)(
-70%2(RSWTIGMJMGPSGEPMX]&VS[RIIXEP)0)98,)6%6EMRFS[&E]*7'%)<91%RS WTIGMJMGPSGEPMX]&VS[RIIXEP18)'+6)%8-2%+9%1EXXLI[8S[R6,8'ZMG1MHHPI 4SMRX*7'%7EPX4SRH,MPP*7'%7SYXL&E]VSEH*7'%QM27EPX4SRH,MPP*7'%691 '%=RSWTIGMJMGPSGEPMX]&VS[RIIXEP18)'7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIX EP'E^MIVERH0EGI]:EYVMIF
'YVXSQIVYW JPEZYW*EFVMGMYW?!']PMRHIVE JPEZE*EFVMGMYWA
%2(637&S[IR7SYRH*7'%6,8'*SVJEV*MIPH7XEXMSR&VS[RIIXEP*7'%6,8'
*VIWL'VIIO&VS[RIIXEP'E^MIVERH0EGI]0SRHSR6MHKI&VS[RIIXEP1ERKVSZI 'E]'E^MIVERH0EGI]2&PEROIX7SYRH&VS[RIIXEP7XEJJSVH'VIIO*7'%6,8' '%8-70%2(%VXLYVW8S[R'E^MIVERH0EGI]RSWTIGMJMGPSGEPMX]&VS[RIIXEP '633/)(-70%2(RSWTIGMJMGPSGEPMX]&VS[RIIXEP)0)98,)6%6EMRFS[&E]*7'%
)<91%RSWTIGMJMGPSGEPMX]&VS[RIIXEP+6)%8%&%'30MXXPI,EVFSYV&VS[RIXEP +6)%8-2%+9%1EXXLI[8S[R6,8'ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH*7'%
7EPX4SRH,MPP*7'%7SYXL&E]VSEH6,8'QM27EPX4SRH,MPP6,8'2);463:-()2') 2EWWEY'E^MIVERH0EGI]RSWTIGMJMGPSGEPMX]&VS[RIIXEP7%27%0:%(36?;%80-2+
-70%2(ARSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI])PPMSXX7398,
&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]:EYVMIF )FYVME FELEQMGEI*MWLIV
%2(637&ILVMRK4SMRX6,8')QMP].SLRWSRvW4PEGI&VS[RIIXEP*SVJEV*MIPH7XEXMSR
&VS[RIIXEP*7'%6,8'*VIWL'VIIO&VS[RIIXEP'E^MIVERH0EGI]*MWLIV 0SRHSR6MHKI&VS[RIIXEP1ERKVSZI'E]'E^MIVERH0EGI]*MWLIV 1EWXMG4SMRX6,8'2&PEROIX7SYRH&VS[RIIXEP3[IRW8S[R*7'%6,8'6SGO]vW
&EV&VS[RIIXEP7XEJJSVH'VIIO*7'%6,8'QM7*SVJEV*MIPH7XEXMSRSR5YIIRvW ,MKL[E]&VS[RIIXEP9RGPI'LEVPMIvW&PYI,SPI*7'%'%8-70%2(%VXLYVW8S[R 'E^MIVERH0EGI])0)98,)6%)KK-WPERH'E^MIVERH0EGI]6EMRFS[&E]*7'%
+6)%8%&%'31ERS;EV'E]&VS[RIIXEP032+-70%2(7MQQW'E^MIVERH0EGI]
7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]*7'%:EYVMI F
)FYVME HMWXMRGXE,EPHIQER
%2(637&PYI,SPI'STTMGI&VS[RIIXEPQM7SJ*VIWL'VIIOSR5YIIRvW,MKL[E]
&VS[RIIXEP)QMP].SLRWSRvW4PEGI&VS[RIIXEP*VIWL'VIIO&VS[RIIXEP2
&PEROIX7SYRH&VS[RIIXEP )FYVME WXMKQE3PMZMIV
)0)98,)6%)KK-WPERH;MGOLEQ7TERMWL;IPPW;MGOLEQ+6)%8-2%+9%1MHHPI 4SMRX6,8'RSVXLGSEWXVSEH2;*7'%2SVXL[IWX4SMRX*7'%7EPX4SRH ,MPP*7'%7SYXL&E]VSEH*7'%
)FYVME XIXVEWXEPEGXE;LMXI
6%++)(-70%2(RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]
)G]VYW LMVXMTIW+ELER?!)G]VYW MRWYPEVMW*MWLIVA
%2(637&ILVMRK4SMRX6,8'8LSQEWERH8YVRFS['EVKMPP'VIIO6,8'8LSQEWERH 8YVRFS[*SVJEV*MIPH7XEXMSR*7'%6,8'8LSQEWERH8YVRFS[1EMHIRLEMV'STTMGI
*7'%7XEJJSVH'VIIO6,8'8LSQEWERH8YVRFS[7398,&-1-2-RSWTIGMJMGPSGEPMX]
%12,&VS[RIIXEP'%7''E^MIVERH0EGI])1)'-ZMIERH'LIQWEO1%-' 379'9721
)PETLMHMSR ERHVSWIRWMW*MWLIV
%2(637RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]*MWLIV )PETLMHMSR FELEQMGEI'E^MIVERH0EGI]
%2(6372&PEROIX7SYRH&VS[RIIXEP)0)98,)6%6EMRFS[&E]*7'%)<91%RS WTIGMJMGPSGEPMX]&VS[RIIXEP18)'2368,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP
8 8 'E^MIVERH0EGI]7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIXEP'E^MIVERH0EGI]
)PETLMHMSR GSRWTIVWYQ2I[QER
'633/)(-70%2(RSWTIGMJMGPSGEPMX]&VS[RIIXEP18)')<91%RSWTIGMJMGPSGEPMX]
&VS[RIIXEP18)'+6)%8%&%'31EVWL,EVFSYV*7'%2);463:-()2')RS WTIGMJMGPSGEPMX]&VS[RIIXEP18)'
)PETLMHMSR GV]TXYQ0MRWPI]
%2(637*SVJEV*MIPH7XEXMSR6,8'8LSQEWERH8YVRFS[1EMHIRLEMV'STTMGI*7'%
6,8'8LSQEWERH8YVRFS[1EWXMG4SMRX6,8'8LSQEWERH8YVRFS[7XEJJSVH 'VIIO6,8')0)98,)6%6EMRFS[&E]*7'%8LSQEWERH8YVRFS[
)PETLMHMSR KPEFVEXYQ*EFVMGMYW
w&%,%1%-70%2(7x'E^MIVERH0EGI]
)PETLMHMSR MVVSVEXYQ0MRREIYW
%2(637'('*EVQW&VS[RIIXEP'EVKMPP'VIIO6,8'*SVJEV*MIPH7XEXMSR&VS[RIIX EP6,8'*VIWL'VIIO&VS[RIIXEP0SRHSR6MHKI&VS[RIIXEP1EMHIRLEMV 'STTMGI6,8'1ERKVSZI'E]'E^MIVERH0EGI]2&PEROIX7SYRH&VS[RIIXEP 3[IRW8S[R6,8'7ER%RHVSW&VS[RIIXEP7LSXKYR'STTMGI&VS[RIIXEP7XEJJSVH 'VIIO &VS[RI IX EP 6,8' '%8 -70%2( %VXLYVW 8S[R 'E^MIV ERH 0EGI]
)0)98,)6%6EMRFS[&E]*7'%+6)%8-2%+9%1MHHPI4SMRX6,8'7SYXL&E]VSEH*7'%
QM27EPX4SRH,MPP*7'%032+-70%2('PEVIRGI8S[R'E^MIVERH0EGI]7MQQvW 'E^MIVERH0EGI]2);463:-()2')2EWWEY'E^MIVERH0EGI]2368,&-1-2- RSWTIGMJMGPSGEPMX]&VS[RIIXEP7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP 'E^MIVERH0EGI]:EYVMIF
)PETLMHMSR PEREXYQ'LIZVSPEX
%2(637*SVJEV*MIPH7XEXMSR*7'%8LSQEWERH8YVRFS[
)PETLMHMSR QERRM*MWLIV?!)PETLMHMSR [MGOLEQM*MWLIVA
%2(637'('*EVQW&VS[RIIXEP)QMP].SLRWSRvW4PEGI&VS[RIIXEP*SVJEV
*MIPH7XEXMSR&VS[RIIXEP6,8'*VIWL'VIIO&VS[RIIXEP'E^MIVERH0EGI]
*MWLIV1EMHIRLEMV'STTMGI6,8'2&PEROIX7SYRH&VS[RIIXEP7LSXKYR'STTMGI
&VS[RI IX EP QM 7 *SVJEV *MIPH 7XEXMSR SR 5YIIRvW ,MKL[E] &VS[RI IX EP )0)98,)6%6EMRFS[&E]*7'%+6%2(&%,%1%RSWTIGMJMGPSGEPMX]&VS[RIIXEP 'LIQWEO+6)%8%&%'31ERS;EV'E]&VS[RIIXEP1EVWL,EVFSYV*7'%
2368,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]7%27%0:%(36 RSWTIGMJMGPSGEPMX])PPMSXX7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH 0EGI]:EYVMIF
)PETLMHMSR UYEHVMXYFIVGYPEXYQ'LIZVSPEX
+6)%8%&%'31ERS;EV'E]&VS[RIIXEP18)' )PETLMHMSR [MPPMEQWM'LIQWEO
+6%2(&%,%1%*VIITSVX&VS[RIIXEP'LIQWEO )PEXIVSTWMWFELEQMGYW+EPMPISERH1EVXMRW
+6%2(&%,%1%*VIITSVX+EPMPISERH1EVXMRW9'&' )PEXIVSTWMW IFIRMRYW'LIZVSPEX?!(IVERGMWXVYW IFIRMRYW'LIZVSPEXA
'633/)(-70%2(RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]
)PEXIVSTWMWJSPMEGIYW+EPMPISERH1EVXMRW
7398,&-1-2-RSWTIGMJMGPSGEPMX]%12,+EPMPISERH1EVXMRW1>74 )PEXIVSTWMWVYKSWYW+ELER?!(IVERGMWXVYW VYKSWYW+ELERA
'%8-70%2(%VXLYVW8S[R%12,+EPMPISERH1EVXMRW)0)98,)6%)KK-WPERH+EPMPIS ERH1EVXMRW-6727TERMWL;IPPW%274'%7'+EPMPISERH1EVXMRW9721;MGOLEQ )<91%,YQQMRKFMVH'E];SJ+ISVKIXS[R%12,+EPMPISERH1EVXMRW032+
-70%2('PEVIRGI8S[R'E^MIVERH0EGI]2);463:-()2')*X'LEVPSXXIRV2EWWEY
%12,+EPMPISERH1EVXMRW2EWWEY%12,'E^MIVERH0EGI]+EPMPISERH1EVXMRW 6%++)(-70%2(%VXLYVW8S[R&VS[RIIXEP'E^MIVERH0EGI]
)PEXIVSTWMW WGEFVSWYW+ELER?!(IVERGMWXVYW WGEFVSWYW+ELERA
%2(637-70%2(%RHVSW8S[R%MVTSVX&VS[RIIXEP*7'%%XPERXMG9RHIV[EXIV8IWXMRK
ERH)ZEPYEXMSR'IRXVI&VS[RIIXEP&ILVMRK4SMRX6,8''EVKMPP'VIIO6,8'*SVJEV
*MIPH7XEXMSR&VS[RIIXEP*7'%*VIWL'VIIO&VS[RIIXEP1SRI]4SMRX6,8'2
&PEROIX7SYRH&VS[RIIXEP)0)98,)6%RSWTIGMJMGPSGEPMX]&VS[RIIXEP+6%2(
&%,%1%RSWTIGMJMGPSGEPMX]&VS[RIIXEP'LIQWEO*7'%+6)%8%&%'3+YR'E]
%12,+EPMPISERH1EVXMRW1ERS;EV'E]+EPMPISERH1EVXMRW7398,&-1-2- +YR'E]'E^MIVERH0EGI]2M\SRW,EVFSYV'E^MIVERH0EGI]
)PEXIVSTWMW XVMQEVKMREXYW'E^MIVERH0EGI]?!(IVERGMWXVYWXVMQEVKMREXYW'E^MIVERH0EGI]A +6)%8-2%+9%IRXVERGI9RMSR'VIIO6IWIVZI6,8'7%27%0:%(36RSWTIGMJMGPSGEPMX]
)PPMSXX )WXSPSMHIWWT
%2(637%XEPE'STTMGI6,8'8LSQEWERH8YVRFS[*SVJEV*MIPH7XEXMSR6,8'8LSQEW ERH8YVRFS[
)YTSKSRMYW XSQIRXSWYW,EPHIQER
%2(6371SRI]4SMRX6,8'8LSQEWERH8YVRFS[
)YTSKSRMYW [MGOLEQM*MWLIV
%2(637&S[IR7SYRH*7'%*SVJEV*MIPH7XEXMSR&VS[RIIXEP1EMHIRLEMV'STTMGI*7'%
6,8'1EWXMG4SMRX6,8'2&PEROIX7SYRH&VS[RIIXEPQM;7XEJJSVH'VIIO*7'%
6,8'7XEJJSVH'VIIO*7'%6,8')0)98,)6%)KK-WPERH*MWLIV)<91%RSWTIGMJMG PSGEPMX]&VS[RIIXEP18)'+6)%8%&%'31ERS;EV'E]&VS[RIIXEP2);
463:-()2')&PYI,MPP2EWWEY'E^MIVERH0EGI]7398,&-1-2-RSWTIGMJMGPSGEPMX]
&VS[RIIXEP'E^MIVERH0EGI]*7'%:EYVMIF )YV]WGIPMW WYXYVEPMW3PMZMIV
%2(637&ILVMRK4SMRX&VS[RIIXEP'EVKMPP'VIIO6,8')QMP].SLRWSRvW4PEGI&VS[RI IXEPQM7*SVJEV*MIPH7XEXMSRSRSPHPSKKMRKVSEH&VS[RIIXEP*SVJEV*MIPH7XEXMSR
&VS[RIIXEP*7'%6,8'*VIWL'VIIO&VS[RIIXEP+SFM0EOI&VS[RIIXEP 0SRHSR6MHKI&VS[RIIXEP1ERKVSZI'E]'E^MIVERH0EGI]1EWXMG4SMRX6,8' 1IRRIRMXIvW*EVQ&VS[RIIXEP2&PEROIX7SYRH&VS[RIIXEP2SXXEKIvW'SXXEKIW
&VS[RIIXEP7XEJJSVH'VIIO&VS[RIIXEP*7'%6,8''%8-70%2(%VXLYVW8S[R 'E^MIVERH0EGI])0)98,)6%6EMRFS[&E]*7'%+6%2(&%,%1%)MKLX1MPI6SGO 'E^MIVERH0EGI])<91%RSWTIGMJMGPSGEPMX]&VS[RIIXEP18)'1%=%+9%2%RS WTIGMJMGPSGEPMX]&VS[RIIXEP*7'%7%27%0:%(36RSWTIGMJMGPSGEPMX]&VS[RIIXEP )PPMSXX*7'%7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]
:EYVMIF
*MWLIVSWX]PYW FVYRIVM*MWLIV
%2(637&S[IR7SYRH*7'%6,8'*SVJEV*MIPH7XEXMSR&VS[RIIXEP*7'%6,8'
*VIWL'VIIO&VS[RIIXEP1EMHIRLEMV'STTMGI*7'%6,8'1SVKERvW&PYJJ6,8'2MGLSPPW 8S[R6,8')0)98,)6%6EMRFS[&E]*7'%+6)%8-2%+9%7EPX4SRH,MPP6,8' ,IXIVEGLXLIWIFIRYW2I[QER
w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR4IGO ,IXIVEGLXLIW WEFPIRWMW&PEXGLPI]
%2(637&ILVMRK4SMRX6,8'8LSQEWERH8YVRFS[
,IXIVSTW HMQMHMEXYW'LIZVSPEX
%2(637*SVJEV*MIPH7XEXMSR6,8'8LSQEWERH8YVRFS[7398,&-1-2-RSWTIGMJMG PSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]:EYVMIF
,IXIVSTW VSFYWXE'E^MIVERH0EGI]
%2(637'EVKMPP'VIIO6,8'8LSQEWERH8YVRFS[1EMHIRLEMV'STTMGI*7'%8LSQEW ERH8YVRFS[7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]
,IXIVSTWRWT
)0)98,)6%6EMRFS[&E]*7'%
/RYPPMERE GMRGXE WTMRMJIVE*EFVMGMYW?!'IVEWTLSVYW GMRGXYQ SGLVEGIYW&EXIW!/RYPPMERE GMRGXE SGLVEGIE&EXIWA
7398,&-1-2-RSWTIGMJMGPSGEPMX]'E^MIVERH0EGI]
8 8 0EKSGLIMVYW EVERIMJSVQMW WXVSLIGOIVM(MPPSR
%2(6371EWXMG4SMRX*7'%6,8'8LSQEWERH8YVRFS[)0)98,)6%RSWTIGMJMGPSGEPMX]
&VS[RIIXEP*7'%)<91%RSWTIGMJMGPSGEPMX]&VS[RIIXEP 0ITXSWX]PSTWMW EVKIRXEXYW.EGUYIPMRHY:EP?!0ITXSWX]PYW EVKIRXEXYW(YZEPA
%2(637&S[IR7SYRH*7'%6,8'*SVJEV*MIPH7XEXMSR&VS[RIIXEP6,8'*VIWL 'VIIO&VS[RIIXEP1ERKVSZI'E]'E^MIVERH0EGI]1EWXMG4SMRX6,8'2&PEROIX 7SYRH&VS[RIIXEP)0)98,)6%6EMRFS[&E]*7'%)<91%RSWTIGMJMGPSGEPMX]&VS[RI IXEP18)'+6%2(&%,%1%RSWTIGMJMGPSGEPMX]'LIQWEO+6)%8%&%'31EVWL ,EVFSYV*7'%2);463:-()2')2EWWEY'E^MIVERH0EGI]7%27%0:%(36RSWTIGMJMG PSGEPMX])PPMSXX7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]
:EYVMIF
0ITXSWX]PSTWMWMRGVEWWEXYW/PYK?!0ITXSWX]PYW MRGVEWWEXYW/PYKA
%2(637&ILVMRK4SMRX*7'%6,8''EGXYW'STTMGI6,8''EVKMPP'VIIO6,8'QM7 7XEJJSVH'VIIO6,8'*SVJEV*MIPH7XEXMSR&VS[RIIXEP*7'%6,8'*VIWL'VIIO&VS[RI IXEP'E^MIVERH0EGI]1EMHIRLEMV'STTMGI6,8'1ERKVSZI'E]'E^MIVERH0EGI]
1EWXMG4SMRX6,8'1SRI]4SMRX6,8'1SVKERvW&PYJJ6,8'2MGLSPPW8S[R6,8' 3[IRW8S[R*7'%2&PEROIX7SYRH&VS[RIIXEPQM;7XEJJSVH'VIIO*7'%6,8' 3[IRW8S[R6,8'7XEJJSVH'VIIO*7'%6,8'9RGPI'LEVPMIvW&PYI,SPI*7'%6,8' )0)98,)6%6EMRFS[&E]*7'%)<91%RSWTIGMJMGPSGEPMX]&VS[RIIXEP18)'+6)%8
%&%'31ERS;EV'E]&VS[RIIXEP18)',-+,6-(+)'%=RSWTIGMJMGPSGEPMX]&VS[RI IXEP2);463:-()2')2EWWEY'E^MIVERH0EGI]7398,&-1-2-RSWTIGMJMG PSGEPMX]:EYVMIF
0ITXSWX]PSTWMWWT
+6)%8-2%+9%7SYXL&E]VSEH*7'%QM27EPX4SRH,MPP*7'%
0ITXYVKIW0ITXYVKIWQIKEPSTW,EQMPXSRERH0IRK
%2(637*SVJEV*MIPH7XEXMSR*7'%8LSQEWERH8YVRFS[
0MRWPI]SRMHIW EPFSQEGYPEXYW'LEQTPEMRERH/RYPP
%2(637*SVJEV*MIPH7XEXMSR&VS[RIIXEP2&PEROIX7SYRH&VS[RIIXEP 0]TWMQIRE JYWGEXE,EPHIQER
%2(637&S[IR7SYRH*7'%1EMHIRLEMV'STTMGI6,8'1SVKERvW&PYJJ6,8'QM;
7XEJJSVH'VIIO*7'%6,8'3[IRW8S[R*7'%7XEJJSVH'VIIO*7'%6,8'QM77SYXL
&PEROIX7SYRH*7'%6,8'+6%2(&%,%1%*VIITSVX'LIQWEO+6)%8%&%'31ER S;EV'E]&VS[RIIXEP18)'2);463:-()2')RSWTIGMJMGPSGEPMX]&VS[RIIXEP 7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP
1IXLME RIG]HEPIE*EFVMGMYW
%2(637%HHIVP]vW4PEGI&VS[RIIXEP&PYI,SPI'STTMGI&VS[RIIXEPQM7
*VIWL'VIIOSR5YIIRvW,MKL[E]&VS[RIIXEP)QMP].SLRWSRvW4PEGI&VS[RIIXEP
*SVJEV*MIPH7XEXMSR&VS[RIIXEP*7'%6,8'*VIWL'VIIO&VS[RIIXEP1ERKVSZI 'E]'E^MIVERH0EGI]6IH&E]W&VS[RIIXEP7ER%RHVSW&VS[RIIXEP7XEJJSVH 'VIIO&VS[RIIXEP'%78%;%=+36(%'%=RSWTIGMJMGPSGEPMX]*7'%'%8-70%2(
%VXLYVW8S[R&VS[RIIXEP'E^MIVERH0EGI])0)98,)6%6EMRFS[&E]*7'%
*36892)-70%2(RSWTIGMJMGPSGEPMX]1%-'+6%2(&%,%1%RSWTIGMJMGPSGEPMX]'LIQWEO 814'+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH2;
*7'%2SVXL[IWX4SMRX*7'%6,8'7EPX4SRH,MPP*7'%7SYXL&E]VSEHQM27EPX 4SRH,MPP*7'%9RMSR'VIIO*7'%7398,&-1-2-RSWTIGMJMGPSGEPMX]'%7''E^MIVERH 0EGI])1)'4LMPMTWERH-ZMI9721:EYVMIF
1SRSGLEQYW XMXMPPEXSV*EFVMGMYW
+6%2(&%,%1%*VIITSVX&VS[RIIXEP'LIQWEO 1SRSHIWQYW GEPPMHMSMHIW%YHMRIX7IVZMPPI
%2(637%XEPE'STTMGI6,8'&ELEQEW%KVMGYPXYVEP6IWIEVGL'IRXVI&VS[RIIXEP)QMP]
.SLRWSRvW4PEGI&VS[RIIXEP*SVJEV*MIPH7XEXMSR&VS[RIIXEP*7'%6,8'*VIWL 'VIIO&VS[RIIXEP1EMHIRLEMV'STTMGI*7'%2&PEROIX7SYRH&VS[RIIXEP7ER
%RHVSW&VS[RIIXEP
2ISGP]XYW FELEQMGYW'E^MIVERH0EGI]
%2(637&S[IR7SYRH*7'%6,8''EVKMPP'VIIO*7'%6,8'*SVJEV*MIPH7XEXMSR&VS[RI IXEP6,8'7XEJJSVH'VIIO6,8')0)98,)6%6EMRFS[&E]*7'%2);463:-()2') 2EWWEY'E^MIVERH0EGI]7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH 0EGI]:EYVMIF
2ISGP]XYW GSVHMJIV/PYK
+6)%8%&%'31ERS;EV'E]&VS[RIIXEP18)'
2IWERSTPMYQ TYFIVYPYQ*PIYXMEY\ERH7EPPÍ?!']PMRHIVE TYFIVYPE*PIYXMEY\ERH7EPPÍA w&%,%1%-70%2(7x&VS[RIIXEP'E^MIVERH0EGI]
2IWSTLERIW JYPKMHYQ'LIQWEO
)<91%RSWTIGMJMGPSGEPMX]&VS[RIIXEP+6)%8-2%+9%1EXXLI[8S[R6,8'7EPX 4SRH,MPP*7'%7SYXL&E]VSEH*7'%+6%2(&%,%1%*VIITSVX'LIQWEO
3VISHIVE KPEYGE KPEYGE0MRREIYW
%2(637*SVJEV*MIPH7XEXMSR&VS[RIIXEP0SRHSR6MHKI&VS[RIIXEP1ERKVSZI 'E]'E^MIVERH0EGI]7XEJJSVH'VIIO6,8')0)98,)6%RSWTIGMJMGPSGEPMX]&VS[RIIX EP)<91%RSWTIGMJMGPSGEPMX]&VS[RIIXEP
4PEGSWXIVRYW HMJJMGMPMW'LIZVSPEX
%2(6371EWXMG4SMRX*7'%6,8'8LSQEWERH8YVRFS[)0)98,)6%6EMRFS[&E]
*7'%+36(%'%=6SGOPERH,EQQSGO*7'%+6)%8%&%'3RSWTIGMJMGPSGEPMX]&VS[RIIX EP2);463:-()2')2EWWEY'E^MIVERH0EGI]7398,&-1-2-RSWTIGMJMGPSGEPMX]
&VS[RIIXEP'E^MIVERH0EGI]*7'%
4PIGXVSGIVYQWTMRMGSVRI3PMZMIV
+6)%8-2%+9%7EPX4SRH,MPP*7'%
4PIGXVSQIVYW HIRXMTIW3PMZMIV?!4PIGXVSQIVYW GSWXEXYW'E^MIVERH0EGI]WII2IEVRWERH&VERLEQ A
%2(637&S[IR7SYRH*7'%6,8'8LSQEWERH8YVRFS['EVKMPP'VIIO6,8'8LSQEW ERH8YVRFS[0SRHSR6MHKI&VS[RIIXEP1EWXMG4SMRX6,8'8LSQEWERH8YVRFS[
1SRI]4SMRX6,8'8LSQEWERH8YVRFS[2MGLSPPW8S[R*7'%8LSQEWERH8YVRFS[
3[IRW8S[R6,8'8LSQEWERH8YVRFS[7XEJJSVH'VIIO*7'%6,8'8LSQEWERH 8YVRFS[9RGPI'LEVPMIW&PYI,SPI*7'%6,8'8LSQEWERH8YVRFS[)0)98,)6%
6EMRFS[&E]*7'%6,8'7TERMWL;IPPW;MGOLEQ+6)%8%&%'31ERS;EV'E]&VS[RI IXEP18)'7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]
4PIGXVSQIVYW TYQMPYW'E^MIVERH0EGI]
%2(637 &ILVMRK 4SMRX *7'% *SVJEV *MIPH 7XEXMSR 6,8' 1EMHIRLEMV 'STTMGI *7'%
)0)98,)6%6EMRFS[&E]*7'%)<91%,YQQMRKFMVH'E][SJ+ISVKIXS[R*7'%2);
463:-()2')RSWTIGMJMGPSGEPMX]&VS[RIIXEP18)'6%++)(-70%2(RSWTIGMJMGPSGEPMX]
&VS[RIIXEP7398,&-1-2-RSWTIGMJMGPSGEPMX]*7'%&VS[RIIXEP'E^MIVERH 0EGI]
4PMRXLSGSIPMYQ ZMVIRW(VYV]?!'EPPMGLVSQE GSPYQFMRE+YÍVMR1ÍRIZMPPIA
2);463:-()2')&PYI,MPP2EWWEY'E^MIVERH0EGI]2EWWEY'E^MIVERH0EGI]
4VSWXIVRSHIW GMRREQMTIRRMW'LIZVSPEX?!(IVERGMWXVYW GMRREQMTIRRMW'LIZVSPEXA
%2(637RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]&)66=-70%2(7,SJJQERW 'E]*7'%'%8-70%2(%VXLYVW8S[R'E^MIVERH0EGI]'633/)(-70%2(RSWTIGMJMG PSGEPMX]&VS[RIIXEP)0)98,)6%6EMRFS[&E]*7'%2967)'%=RSWTIGMJMGPSGEPMX]
&VS[RIIXEP7398,&-1-2-RSWTIGMJMGPSGEPMX]'E^MIVERH0EGI]:EYVMIF 4W]VEWWE NEYQIM*MWLIV
%2(637*SVJEV*MIPH7XEXMSR*7'%8LSQEWERH8YVRFS[
7TEPEGSTWMW JMPYQ JMPYQ/PYK
%2(637'EVKMPP'VIIO6,8'8LSQEWERH8YVRFS[*SVJEV*MIPH7XEXMSR6,8'1EWXMG 4SMRX6,8'3[IRW8S[R*7'%QM77SYXL&PEROIX7SYRH*7'%6,8')0)98,)6%
,EVFSYV-WPERH;MGOLEQ6EMRFS[&E]*7'%7TERMWL;IPPW;MGOLEQ+6)%8
%&%'31ERS;EV'E]&VS[RIIXEP+6)%8-2%+9%7EPX4SRH,MPP6,8'7398,
&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]
8 8 7XIRSHSRXIW GLIZVSPEXM+ELER
%2(6377XEJJSVH'VIIO*7'%8LSQEWERH8YVRFS[7398,&-1-2-RSWTIGMJMGPSGEPMX]
&VS[RIIXEP'E^MIVERH0EGI]:EYVMIF
7XM^SGIVE MRWYPERE+ELER?!7XM^SGIVE TYRGXMZIRXVMW'E^MIVERH0EGI]!2IWSWXM^SGIVE TYRGXMZIRXVMW 0MRWPI]A
%2(6370SRHSR6MHKI&VS[RIIXEP)0)98,)6%6EMRFS[&E]*7'%6,8')<91%
RSWTIGMJMGPSGEPMX]&VS[RIIXEP18)'+6)%8%&%'31ERS;EV'E]&VS[RIIXEP 18)'7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]
7X]PSPITXYW FMYWXYW FELEQMGYW*MWLIV?!0ITXSWX]PYW FELEQMGYW*MWLIV!0IMSTYW FELEQMGYW*MWLIVA
%2(637&ILVMRK4SMRX6,8'&S[IR7SYRH*7'%'EVKMPP'VIIO6,8'*SVJEV*MIPH7XEXMSR
&VS[RIIXEP6,8'*VIWL'VIIO&VS[RIIXEP'E^MIVERH0EGI]*MWLIVE 0SRHSR6MHKI&VS[RIIXEP1EMHIRLEMV'STTMGI6,8'1ERKVSZI'E]'E^MIVERH0EGI]
*MWLIVE1IRRIRMXIvW*EVQ&VS[RIIXEP1SRI]4SMRX6,8'1SVKERvW&PYJJ 6,8'QM;7XEJJSVH'VIIO*7'%6,8'3[IRW8S[R6,8'7XEJJSVH'VIIO*7'%
6,8')0)98,)6%6EMRFS[&E]*7'%)<91%RSWTIGMJMGPSGEPMX]&VS[RIIXEP18)' +6%2(&%,%1%)MKLX1MPI6SGO'E^MIVERH0EGI]'LIQWEO+6)%8%&%'31ER S;EV'E]&VS[RIIXEP18)'+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%2SVXL[IWX4SMRX
*7'%QM27EPX4SRH,MPP*7'%9RMSR'VIIO6IWIVZIIRXVERGI6,8'2967)'%=RS WTIGMJMGPSGEPMX]&VS[RIIXEP18)'7398,&-1-2-RSWTIGMJMGPSGEPMX]:EYVMIF 7X]PSPITXYW PEXMGSPPMW*MWLIV?!0IMSTYW PEXMGSPPMW*MWLIVA
)0)98,)6%RSWTIGMJMGPSGEPMX]&VS[RIIXEP18)')<91%RSWTIGMJMGPSGEPMX]&VS[RI IXEP2);463:-()2')RSWTIGMJMGPSGEPMX]&VS[RIIXEP18)'7398,&-1-2- RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]
7X]PSPITXYW TMPSWIPPYW*MWLIV?!0IMSTYW TMPSWIPPYW*MWLIVA
'%8-70%2(%VXLYVW8S[R&VS[RIIXEP'E^MIVERH0EGI]*MWLIV 7X]PSPITXYW WGYVVE'LIZVSPEX?!0IMSTYW WGYVVE'LIZVSPEXA
'32')48-32-70%2(&SSF]'E]&VS[RIIXEP18)''633/)(-70%2(RSWTIGMJMG PSGEPMX]&VS[RIIXEP18)'+6%2(&%,%1%*VIITSVX'LIQWEO)<91%RS WTIGMJMGPSGEPMX]&VS[RIIXEP18)'+6)%8%&%'31ERS;EV'E]&VS[RIIXEP 18)'2);463:-()2')2EWWEY&VS[RIIXEP'E^MIVERH0EGI]7398,&-1-2- RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIVERH0EGI]
8VMGLSTLSVSMHIW WMKREXMGSPPI'LIZVSPEX?!)PETLMHMSR WMKREXMGSPPI'LIZVSPEXA
%2(6372MGLSPPW8S[R*7'%2368,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP'E^MIV ERH0EGI]
8VMGLVSYW HMQMHMEXMTIRRMW'LIZVSPEX
%2(6377XEJJSVH'VIIO6,8'8LSQEWERH8YVRFS[
8VMGLVSYW TMPMTIRRMW'LIZVSPEX
%2(637*VIWL'VIIO&VS[RIIXEP7XEJJSVH'VIIO6,8'8LSQEWERH8YVRFS[
'633/)(-70%2(RSWTIGMJMGPSGEPMX]&VS[RIIXEP7398,&-1-2-RSWTIGMJMGPSGEPMX]
&VS[RIIXEP'E^MIVERH0EGI]
8VMGLVSYW TVEWMRYW'E^MIVERH0EGI]
%2(6377XEJJSVH'VIIO*7'%8LSQEWERH8YVRFS[7398,&-1-2-RSWTIGMJMGPSGEPMX]
&VS[RIIXEP'E^MIVERH0EGI]
9VKPITXIW GLEQEIVSTWMW*MWLIV
%2(637*SVJEV*MIPH7XEXMSR6,8'8LSQEWERH8YVRFS[1SRI]?4SMRXA&IEGL*7'%
9VKPITXIW KYEHIPSYTIRWMW *PIYXMEY\ ERH 7EPPÍ ?!0ITXYVKIW KYEHIPSYTIRWMW *PIYXMEY\ ERH 7EPPÍA
%2(637&ILVMRK4SMRX6,8'&S[IR7SYRH*7'%'EGXYW'STTMGI*7'%'EVKMPP'VIIO6,8' QM77XEJJSVH'VIIO6,8'*SVJEV*MIPH7XEXMSR*7'%6,8'*VIWL'VIIO&VS[RIIXEP +YEVHMER&PYI,SPI6,8'1EMHIRLEMV'STTMGI*7'%6,8'1EWXMG4SMRX6,8'1SRI]
4SMRX6,8'2MGLSPPW8S[R6,8'QM;7XEJJSVH'VIIO*7'%6,8'3[IRW8S[R6,8' 7ER%RHVSW&VS[RIIXEP7XEJJSVH'VIIO*7'%6,8'QM77SYXL&PEROIX7SYRH
*7'%6,8'9RGPI'LEVPMIvW&PYI,SPI*7'%6,8')0)98,)6%6EMRFS[&E]*7'%
+6)%8-2%+9%1EXXLI[8S[R6,8'7398,&-1-2-RSWTIGMJMGPSGEPMX]&VS[RIIXEP 'E^MIVERH0EGI]:EYVMIF
>ETPSYWWTTVSFEFP]ERRYPEXYW'LIZVSPEX
%2(637%XEPE'STTMGI6,8'8LSQEWERH8YVRFS[*SVJEV*MIPH7XEXMSR*7'%6,8' 8LSQEWERH8YVRFS[1EMHIRLEMV'STTMGI*7'%6,8'8LSQEWERH8YVRFS[3[IRW 8S[R6,8'8LSQEWERH8YVRFS[
')6=032-(%)
)Y\IWXYWIVMXLEGYW'LIZVSPEX
2);463:-()2')'EVQMGLEIPEVIE2Sv;Sv9721 ',)032%6--(%)
'LIPSREVMYQWT
%2(6371EMHIRLEMV'STTMGI*7'%
',6=731)0-(%)
%TLXLSRE#GVYGMJIVE&PEOI
+6)%8-2%+9%7EPX4SRH,MPP*7'%6,8'
%TVEIE IPIYXLIVIRWMW&PEOI
%2(637%XEPE'STTMGI*7'%&ILVMRK4SMRX*7'%'EGXYW'STTMGI6,8''ETXEMR&MPPvW&PYI ,SPI *7'% *SVJEV *MIPH 7XEXMSR &=9' *7'% 6,8' *VIWL 'VIIO %12, &PEOI 1EMHIRLEMV'STTMGI*7'%7XEJJSVH'VIIO6,8'9RGPI'LEVPMIvW&PYI,SPI*7'%'633/)(
-70%2(0ERHVEMP4SMRX%12,&PEOI+6%2(&%,%1%;IWX)RH%12,&PEOI )0)98,)6%+SZIVRSVW,EVFSYV%12,&PEOI
%TVEIE#T]VMXSWE7YJJVMER
%2(637'EVKMPP'VIIO6,8'
%VKSTMWXIWRWT
%2(6371EMHIRLEMV'STTMGI6,8' 'ETVEMXE#RWT
%2(637%XEPE'STTMGI6,8''EGXYW'STTMGI6,8'1EMHIRLEMV'STTMGI*7'%6,8' 'LEIXSGRIQE FVYRRIWGIRW,SVR
%2(637&ILVMRK4SMRX&=9'*7'%6,8''EGXYW'STTMGI&=9'6,8''EVKMPP'VIIO6,8' 1SRI]4SMRX6,8'7SJ*VIWL'VIIOSRVSEHXS972EZEP7XEXMSR*7'%+6)%8-2%+9%
1EXXLI[8S[R6,8'1MHHPI4SMRX6,8'WXVERH7SJ1MHHPI4SMRX6,8'ZMG1MHHPI4SMRX
*7'%RSVXLGSEWXVSEH2;&=9'*7'%7EPX4SRH,MPP&=9'*7'%6,8' 7SYXL&E]VSEH6,8'
'LEIXSGRIQE SFIWYPE0I'SRXI
%2(637%XEPE'STTMGI6,8'7QEPP,STI6,8'7XEJJSVH'VIIO&=9'6,8' 'LEPGSWMG]E ERHVSWIRWMW&PEOI
%2(637'EVKMPP'VIIO*7'%*VIWL'VIIO%12,&PEOI'%8-70%2(&IRRIXXvW,EVFSYV 9721&PEOI
'LEPGSWMG]E#RWT
+6)%8-2%+9%WXVERHWSJ1MHHPI4SMRX6,8'2SVXL[IWX4SMRX*7'%6,8'7EPX4SRH,MPP
*7'%6,8'7SYXL&E]VSEH*7'%6,8'QM27EPX4SRH,MPP*7'%IRXVERGI9RMSR 'VIIO4VIWIVZI*7'%
'LEPITYW WERKYMRMGSPPMW0MRREIYW
%2(637*SVJEV*MIPH7XEXMSR*7'%
#'LEVMHSXIPPEWT
%2(637*SVJEV*MIPH7XEXMSR6,8' 'LPEQMWYW GSRMJIVE0EGSVHEMVI
%2(637.YRKPI4SRH*7'%
'V]TXSGITLEPYW E^YVIMTIRRMW7YJJVMER
7398,&-1-2-RSWTIGMJMGPSGEPMX]:EYVMIF
8 8 'V]TXSGITLEPYW QEVKMRMGSPPMW7YJJVMER
)0)98,)6%)KK-WPERH;MGOLEQ2);463:-()2')2EWWEY;EXWSR 'V]TXSGITLEPYW WEYGMYW7YJJVMERSVRIEV
%2(637&S[IR7SYRH*7'%'EGXYW'STTMGI6,8'*SVJEV*MIPH7XEXMSR*7'%6,8' 1EMHIRLEMV'STTMGI*7'%6,8'2MGLSPPW8S[R*7'%3[IRW8S[R*7'%6,8'7XEJJSVH 'VIIO&=9'6,8'QM77SYXL&PEROIX7SYRH6,8'
'V]TXSGITLEPYW ZMVMHMTIRRMW7YJJVMER
%2(637&ILVMRK4SMRX*7'%&S[IR7SYXL6,8''ETXEMR&MPPvW&PYI,SPI*7'%6,8' 'EVKMPP'VIIO*7'%6,8'*SVJEV*MIPH7XEXMSR*7'%6,8'1EMHIRLEMV'STTMGI*7'%3[IRW 8S[R*7'%RV7ER%RHVSW&=9'*7'%6,8'7QEPP,STI6,8'7XEJJSVH'VIIO&=9' 6,8'9RGPI'LEVPMIvW&PYI,SPI*7'%+6%2(&%,%1%&VSSO[SSH*EVQ*7'%;EPPEGI
*EVQ&=9'*7'%
'V]TXSGITLEPYWRWT
%2(637%XEPE'STTMGI*7'%6,8''ETXEMR&MPPvW&PYI,SPI*7'%6,8''EVKMPP'VIIO 6,8'*SVJEV*MIPH7XEXMSR6,8'1EMHIRLEMV'STTMGI*7'%6,8'1SVKERvW&PYJJ6,8' 7XEJJSVH'VIIO6,8'9RGPI'LEVPMIvW&PYI,SPI*7'%
'V]TXSGITLEPYWRWT
%2(637&ILVMRK4SMRX*7'%6,8''EGXYW'STTMGI*7'%6,8''ETXEMR&MPPvW&PYI,SPI
*7'%'EVKMPP'VIIO*7'%6,8'*SVJEV*MIPH7XEXMSR*7'%6,8'1EMHIRLEMV'STTMGI*7'%
1SRI]4SMRX*7'%QM;7XEJJSVH'VIIO6,8'7QEPP,STI6,8'7SJ*VIWL'VIIOSR VSEHXS972EZEP7XEXMSR*7'%7XEJJSVH'VIIO6,8'QM77SYXL&PEROIX7SYRH6,8' 'V]TXSGITLEPYWRWT
%2(637&S[IR7SYRH*7'%*SVJEV*MIPH7XEXMSR*7'%6,8'QM;7XEJJSVH'VIIO
*7'%7XEJJSVH'VIIO6,8'QM77SYXL&PEROIX7SYRH6,8'9RGPI'LEVPMIvW&PYI,SPI 6,8'
'V]TXSGITLEPYWRWT
+6)%8-2%+9%2SVXL[IWX4SMRX*7'%6,8'7EPX4SRH,MPP6,8' (MEGLYW EYVEXYW*EFVMGMYW
%2(6373[IRW8S[R6,8'7XEJJSVH'VIIO6,8' (MEGLYWWUYEPIRW7YJJVMER
w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR4IGO (MWSR]GLE HMWGSMHIE*EFVMGMYW
%2(637&S[IR7SYRH*7'%
(MWSR]GLE TIRW]PZERMGE-PPMKIV
%2(637*SVJEV*MIPH7XEXMSR6,8' (MWSR]GLEWTMPSXVEGLIPE&PEOI
+6)%8-2%+9%7SYXL&E]VSEH&=9'*7'%7EPX4SRH,MPP&=9'6,8' )TMXVM\JEWGMEXE&PEXGLPI]
w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR4IGO )TMXVM\WT
%2(637*SVJEV*MIPH7XEXMSR*7'%7XEJJSVH'VIIO6,8' )TMXVM\WT
%2(637'ETXEMR&MPPvW&PYI,SPI6,8' )YV]TITPEGEPSGLVSQE&PEOI
%2(637(VMKKW,MPPWRIEV7SYXL&MKLX&PEOI )YV]TITPEZMXVIE&SLIQER
w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR4IGO )\IQE#KMFFIV*EFVMGMYW
%2(637'EGXYW'STTMGI&=9'*7'%6,8''EVKMPP'VIIO6,8'3[IRW8S[R*7'%7XEJJSVH 'VIIO6,8'
+P]TXMRE#RWT
%2(6371EMHIRLEMV'STTMGI*7'%+6)%8-2%+9%1EXXLI[8S[R6,8'
,IQMPEGXMGERWT
%2(637*SVJEV*MIPH7XEXMSR*7'%.YRKPI4SRH*7'%1EMHIRLEMV'STTMGI*7'%+6)%8 -2%+9%WXVERH7SJ1MHHPI4SMRX6,8'ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH2
;*7'%2SVXL[IWX4SMRX*7'%7EPX4SRH,MPP6,8' ,IQMWTLEIVSXETVSFRWT
%2(637'EVKMPP'VIIO*7'%
,SQSWGLIQE ERHVSWIRWMW&PEOI
%2(637%XEPE'STTMGI6,8''EGXYW'STTMGI&=9'*7'%'ETXEMR&MPPvW&PYI,SPI*7'%
'EVKMPP'VIIO*7'%.YRKPI4SRH*7'%3[IRW8S[R6,8'7QEPP,STI&=9'6,8' ,SQSWGLIQE#PSRKIRWI&PEOI
%2(637*SVJEV*MIPH7XEXMSR&=9'*7'%6,8'032+-70%2((IEHQERvW'E]%12,
&PEOI
/YWGLIPMREFVEGL]WGIPYW&PEOI?!3IHMSR]GLYWFVEGL]WGIPYW&PEOIA +6%2(&%,%1%;IWX)RH%12,&PEOI
0IYGSGIVEWT
%2(637&ILVMRK4SMRX*7'%6,8'.YRKPI4SRH*7'%7SJ*VIWL'VIIOSRVSEHXS97 2EZEP7XEXMSR*7'%
0SRKMXEVWYW#TVSZMHIRWMW&PEOI
%2(637*SVJEV*MIPH7XEXMSR&=9'*7'%6,8')0)98,)6%+SZIVRSVW,EVFSYV%12,
&PEOI+6)%8-2%+9%1EXXLI[8S[R%12,&PEOI2);463:-()2')QM;
2EWWEY%12,&PEOI 0SRKMXEVWYW#VSWIRWMW&PEOI
%2(637*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI&=9'*7'%+6%2(&%,%1%4MRI 6MHKI%12,&PEOI9721
0SRKMXEVWYW#XIWXEGIYW1IPWLIMQIV
%2(637&ILVMRK4SMRX*7'%
0SRKMXEVWYW#RWT
+6)%8-2%+9%ZMG1MHHPI4SMRX*7'%
1IKMWXSTW FELEQIRWMW&PEOI
%2(637'ETXEMR&MPPvW&PYI,SPI*7'%)0)98,)6%,EVFSYV-WPERH&PEOI 1IXEGLVSQEEHYWXYQ7YJJVMER
+6)%8-2%+9%WXVERHWSJ1MHHPI4SMRX6,8'ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH 2;*7'%2SVXL[IWX4SMRX&=9'*7'%7EPX4SRH,MPP&=9'*7'%6,8' 7SYXL&E]VSEH*7'%
1IXEGLVSQE JIPMW&PEOI
%2(637&ILVMRK4SMRX6,8''EGXYW'STTMGI6,8''EVKMPP'VIIO6,8'*SVJEV*MIPH7XEXMSR
*7'%6,8'QM)0SRHSR'VIIO6,8'3[IRW8S[R&=9'6,8'7SJ*VIWL'VIIOSR VSEHXS972EZEP7XEXMSR*7'%7XEJJSVH'VIIO6,8''%8-70%2(%VXLYVW8S[R&PEOI 1'>'
1IXEGLVSQE#JIPMW,SVR
%2(637*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%QM70SRHSR'VIIO*7'%
3[IRW8S[R*7'%6,8' 1IXEGLVSQE REWWEYIRWI&PEOI
2);463:-()2')2EWWEY&PEOI9721 1IXEGLVSQE XIWXEGIYQ&PEXGLPI]
)0)98,)6%RSWTIGMJMGPSGEPMX]&PEOI 1IXEGLVSQE#XIWXEGIYQ&PEXGLPI]
+6)%8-2%+9%1MHHPI4SMRX6,8' 1IXEGLVSQE XIWXEGIYQ IPEGLMWXYQ&PEOI
%2(637%XEPE'STTMGI*7'%'EVKMPP'VIIO&=9'*7'%6,8'*SVJEV*MIPH7XEXMSR&=9'
*7'%6,8'1EMHIRLEMV'STTMGI&=9'*7'%6,8'1SRI]4SMRX*7'%6,8'7SJ*VIWL 'VIIOSRVSEHXS972EZEP7XEXMSR*7'%7XEJJSVH'VIIO6,8'
1IXEGLVSQERWT
%2(637*SVJEV*MIPH7XEXMSR*7'%)0)98,)6%6EMRFS[&E]*7'%
8 8 1IXEGLVSQE#RWT
%2(637%XEPE'STTMGI*7'%'EGXYW'STTMGI6,8'*SVJEV*MIPH7XEXMSR*7'%6,8'3[IRW 8S[R*7'%6,8'
1IXEGLVSQE#RWT
)0)98,)6%6EMRFS[&E]*7'%
1IXEGLVSQE#RWT
+6)%8-2%+9%1MHHPI4SMRX6,8'ZMG1MHHPI4SMRX*7'%RSVXLGSEWXVSEH2
;*7'%2SVXL[IWX4SMRX*7'%
1SRSQEGVEEPFMRE&PEOI
%2(6374MKISR'E]%RHIVWSR)0)98,)6%)KK-WPERH&PEOI 1SRSQEGVEERHVSWIRWMW&PEOI
%2(637'ETXEMR&MPPvW&PYI,SPI*7'%'EVKMPP'VIIO&=9'*7'%*SVJEV*MIPH7XEXMSR&=9'
*7'%1EMHIRLEMV'STTMGI&=9'*7'%3[IRW8S[R*7'%7XEJJSVH'VIIO6,8'9RGPI 'LEVPMIvW&PYI,SPI*7'%
1SRSQEGVEIPIYXLIVEI&PEOI
)0)98,)6%RSWTIGMJMGPSGEPMX]&PEOI 3SQSVTLYW JPSVMHERYW,SVR
%2(637%XEPE'STTMGI&=9'*7'%*SVJEV*MIPH7XEXMSR*7'%6,8'1SRI]4SMRX*7'%
3[IRW8S[R6,8'RV7ER%RHVSW*7'%7XEJJSVH'VIIO6,8' 4EGL]FVEGLMWWT
%2(637&ILVMRK4SMRX*7'%*SVJEV*MIPH7XEXMSR*7'%6,8'7XEJJSVH'VIIO6,8' 4EGL]FVEGLMWWT
%2(637*SVJEV*MIPH7XEXMSR*7'%7XEJJSVH'VIIO6,8' 4EGL]FVEGLMWWT
%2(637*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%QM77SYXL&PEROIX7SYRH
*7'%6,8' 4EGL]FVEGLMWWT
%2(637*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%QM77SYXL&PEROIX7SYRH
*7'%6,8' 4EGL]FVEGLMWWT
%2(637&ILVMRK4SMRX*7'%6,8'*SVJEV*MIPH7XEXMSR6,8' 4EGL]FVEGLMWWT
+6)%8-2%+9%7EPX4SRH,MPP*7'%
4EGL]FVEGLMWWTSVWTT
%2(6374MKISR'E]%RHIVWSR)0)98,)6%)KK-WPERH;MGOLEQ 7]TLVIEFELEQIRWMW&PEOI?!,IVQEISTLEKEFELEQIRWMW&PEOIA
)<91%&MXXIV+YERE'E]&PEOI9721032+-70%2('PEVIRGI8S[R%12,&PEOI
7]TLVIE#FELEQIRWMW&PEOI
+6)%8-2%+9%1EXXLI[8S[R6,8'RSVXLGSEWXVSEH2;*7'%7EPX 4SRH,MPP*7'%6,8'7SYXL&E]VSEH*7'%
8VMEGLYW GIVMRYW0I'SRXI
%2(637&ILVMRK4SMRX6,8''ETXEMR&MPPvW&PYI,SPI&=9'*7'%6,8'*SVJEV*MIPH7XEXMSR
*7'%1EMHIRLEMV'STTMGI*7'%6,8'+6)%8-2%+9%7EPX4SRH,MPP&=9'*7'%6,8'
=MRKEVIWGERWT
%2(637'ETXEMR&MPPvW&PYI,SPI6,8'*SVJEV*MIPH7XEXMSR*7'%3[IRW8S[R*7'%6,8'
=MRKEVIWGERWT
%2(637*SVJEV*MIPH7XEXMSR6,8'7SJ*VIWL'VIIOSRVSEHXS972EZEP7XEXMSR*7'%
6,8'
>ITLIVMRERWT
%2(637%XEPE'STTMGI*7'%6,8''ETXEMR&MPPvW&PYI,SPI*7'%6,8'*SVJEV*MIPH7XEXMSR
*7'%6,8'.YRKPI4SRH*7'%1EMHIRLEMV'STTMGI*7'%6,8'7QEPP,STI6,8'9RGPI 'LEVPMIvW&PYI,SPI*7'%
'--(%)
'IVEGMWQMRYXYW(YV]
w&%,%1%7xRSSXLIVPSGEPMX]MRJSVQEXMSR4IGO 'IVEGMWRMKVSTYRGXEXYW0E[VIRGI
%2(637*SVJEV*MIPH7XEXMSR*7'%6,8' 'MWGVIFIVVMQYW1IPPMÍ
%2(637*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%+6)%8-2%+9%7EPX4SRH ,MPP*7'%
'MWGVMRMXYW0E[VIRGI
+6)%8-2%+9%QM)'SRGL7LIPP,MPP0E[VIRGI 'MWLMVWYXYW'EWI]
+6)%8-2%+9%1EXXLI[8S[R0E[VIRGI 'MWWT
%2(6371EMHIRLEMV'STTMGI*7'%
3VXLSGMW#LYIWERYW/VEYW
%2(637*SVJEV*MIPH7XEXMSR*7'%
'0)6-(%)
'EPPSXMPPYW FELEQIRWMW:EYVMI
%2(637&ILVMRK4SMRX*7'%7398,&-1-2-RSWTIGMJMGPSGEPMX]:EYVMIE 1EHSRMIPPERWT
%2(6371EMHIRLEMV'STTMGI*7'%
2ISVXLSTPIYVE RIWMSXIW&EVV
%2(637'EVKMPP'VIIO6,8'*SVJEV*MIPH7XEXMSR6,8'1EMHIRLEMV'STTMGI*7'%+6)%8
%&%'31EVWL,EVFSYV&EVV7398,&-1-2-RSWTIGMJMGPSGEPMX]&EVV:EYVMIE 4IPSRMYQRWT
+6)%8-2%+9%1MHHPI4SMRX6,8' 4IPSRMYQTMGMZIRXVI'LIZVSPEX
%2(6371EMHIRLEMV'STTMGI*7'%
'3''-2)00-(%) 'EXEREGPEYWIRM'LETMR
w#&%,%1%-7x&PEGO[IPHIV 'LMPSGSVYW GEGXM0MRREIYW
%2(637*SVJEV*MIPH7XEXMSR*7'%1EMHIRLEMV'STTMGI*7'%+6)%8-2%+9%1EXXLI[
8S[R6,8'7398,&-1-2-RSWTIGMJMGPSGEPMX]:EYVMIF ']GPSRIHE WERKYMRIE PMQFMJIV'EWI]
%2(637&ILVMRK4SMRX*7'%'EGXYW'STTMGI6,8'*SVJEV*MIPH7XEXMSR*7'%+YEVHMER
&PYI,SPI6,8'1SRI]4SMRX6,8'3[IRW8S[R6,8')0)98,)6%)KK-WPERH;MGOLEQ ,EVFSYV-WPERH;MGOLEQ?VITSVXIHEW'SGGMRIPPE WERKYMRIE0MRREIYWa
(IGEHMSQYWFELEQMGYW'EWI]
)0)98,)6%)KK-WPERH'LETMR (IGEHMSQYWWT
%2(637*SVJEV*MIPH7XEXMSR6,8'1EMHIRLEMV'STTMGI6,8'3[IRW8S[R6,8' (IGEHMSQYWWT
)0)98,)6%6EMRFS[&E]*7'%+6)%8-2%+9%1EXXLI[8S[R6,8'7SYXL&E]VSEH 6,8'
(IPTLEWXYWTEPPMHYW0I'SRXI
+6)%8-2%+9%1EXXLI[8S[R6,8' (MSQYW VSWIMGSPPMW1YPWERX
%2(637%XEPE'STTMGI6,8'*SVJEV*MIPH7XEXMSR*7'%6,8'1SVKERvW&PYJJ6,8'7QEPP ,STI6,8'7XEJJSVH'VIIO6,8'+6)%8-2%+9%1EXXLI[8S[R*7'%6,8'WXVERH7SJ 1MHHPI4SMRX6,8'7EPX4SRH,MPP*7'%