Sprache und Literatur (BK 18.30 ¸ 18.39): Sekundärliteratur 1

Sprache und Literatur (BK 18.30 ¸ 18.39): Sekundärliteratur 1

5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
)TCOOCVKMURKGNG¸5RCPKUEJJTUIXQP/CTKQ4KPXQNWETKWPF2CWN&CXKUšDGTUWDGCTDXQP5GTIKQ&QINKCPK¸
#WHN¸5VWVVICTV-NGVV=?¸5+NNITCRJ&CTUV
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&)TCOOCVKM59&¸+&.GTPURKGN59&¸+&
#WHICDGPUCOONWPI
5CEJITWRRGP5RTCEJFKFCMVKM5RCPKUEJG5RTCEJG
$
#NGOCP[4CHCGN
+PVTQFWEEKºQCN6KTCPVNQ$NCPE4CHCGN#NGOCP[¸GF¸#N\KTC$TQOGTC¸REO
'UUGPEKCN
6GZVKP%CVCNCP¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸¸
5EJNCIY¨TVGT/CTVQTGNN,QCPQV6KTCPVNQ$NCPE59&¸+&'KPH©JTWPI
5CEJITWRRGP-CVCNCPKUEJG5RTCEJGWPF.KVGTCVWT
#
#NOGKFC/CTKC#OºGNKC
1TCRC\FGDTQP\GFG5QRJKCFG/GNNQ$TG[PGT#PFTGUGPCPºCNKUGFCQDTC+TGPG%CTFQPC/CTKC#OºGNKC#NOGKFC¸
GF¸.KUDQC6GZVQ'F¸5+NN
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT#PFTGUGP5QRJKCFG/GNNQ$TG[PGT1TCRC\FGDTQP\G59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
#NXCTG\1NC¼PGVC2GFTQ
8C[CEQPFKQU4GFGPUCTVGP&GWVUEJ¸5RCPKUEJ2GFTQº#NXCTG\1NC¼PGVC6TKPKFCF$QPCEJGTCº#NXCTG\¸-¨NP
#PCEQPFC8GTN¸5+NNEO
+5$0¸¸¸¸
5EJNCIY¨TVGT&GWVUEJ59&¸+&2JTCUGQNQIKG59&¸+&9¨TVGTDWEJ5RCPKUEJ59&¸
+&
5CEJITWRRGP4JGVQTKM5VKNKUVKM5RTCEJYKUUGPUEJCHV &GWVUEJG5RTCEJG5RCPKUEJG5RTCEJG
#
#PCUVºCEKQ8CPFC
#OCTSWGUCFG#NQTPC¸8CPFC#PCUVºCEKQ¸.KUDQC2TGHºCEKQ¸5EO
%QNNGEVGFYTKVKPIU¸.GQPQTFG#NOGKFC2QTVWICN¸MPQYPCU/CTSWGUCFG#NQTPC2QTVWIWGUGYTKVGT¸8
#PCUVºCEKQVGCEJGUCVVJG7PKXGTUKV[QH.KUDQC¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸
5EJNCIY¨TVGT#NEKRG59&¸+&#WHUCV\UCOONWPI
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
#
#RCTKEKQ'FWCTFQ
5RCPKUJRTQXGTDUGPTKEJ[QWT5RCPKUJEQPXGTUCVKQPYKVJEQNQTHWNGXGT[FC[UC[KPIU'FWCTFQ#RCTKEKQ¸
&WDWSWG+QYC/E)TCY¸*KNN%QPVGORQTCT[.GCTPKPI¸5+NN%&¸41/
+PENWFGUKPFGZ¸+PENWFGU/2¸%&
+5$0¸¸¸:¸¸¸¸RDM
5EJNCIY¨TVGT4GHTºCP59&¸+&9¨TVGTDWEJ
5CEJITWRRGP5RCPKUEJG5RTCEJG4JGVQTKM5VKNKUVKM5RTCEJYKUUGPUEJCHV #
#RCTKEKQ)WKNNGTOQ
&GU'UGNU*GKOCV4GHTCPGU¸FWTEJIGU#WHN¸5VWVVICTV5EJOGVVGTNKPI¸8GTN¸55RCPKUEJH©T
$GUUGTYKUUGTYCUFGP&GWVUEJGPCO5RCPKUEJGPURCPKUEJXQTMQOOV)#RCTKEKQ$F
+5$0¸¸¸
5EJNCIY¨TVGT5RTCEJUEJYKGTKIMGKV59&¸+&
5CEJITWRRGP5RCPKUEJG5RTCEJG5RTCEJFKFCMVKM
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
#RCTKEKQ)WKNNGTOQ
*GKOCV¸5RTCEJG¸#WHN¸5VWVVICTV5EJOGVVGTNKPI¸8GTN¸5+NN5RCPKUEJH©T$GUUGTYKUUGTYCUFGP
&GWVUEJGPCO5RCPKUEJGPURCPKUEJXQTMQOOV)#RCTKEKQ$F
+5$0¸¸¸MCTV
5EJNCIY¨TVGT5RTCEJUEJYKGTKIMGKV59&¸+&
5CEJITWRRGP5RCPKUEJG5RTCEJG5RTCEJFKFCMVKM
#
#
#RCTKEKQ)WKNNGTOQ
2QGUºKCGTGUVºWYGPP5RTCEJGUKEJXGTFKEJVGV)#RCTKEKQ¸#WHN¸5VWVVICTV5EJOGVVGTNKPI¸8GTN¸5
5RCPKUEJH©T$GUUGTYKUUGT)#RCTKEKQ$F
+5$0¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&#WHICDGPUCOONWPI
5EJNCIY¨TVGT5RTCEJUEJYKGTKIMGKV59&¸+&
5CEJITWRRGP5RCPKUEJG5RTCEJG5RTCEJFKFCMVKM
#
#RCTKEKQ)WKNNGTOQ
5RCPKUEJG&¨THGT¸FWTEJIGU#WHN¸5VWVVICTV5EJOGVVGTNKPI¸8GTN¸55RCPKUEJH©T$GUUGTYKUUGT
YCUFGP&GWVUEJGPCO5RCPKUEJGPURCPKUEJXQTMQOOV)#RCTKEKQ$F
+5$0¸¸¸
5EJNCIY¨TVGT5RTCEJUEJYKGTKIMGKV59&¸+&
5CEJITWRRGP5RCPKUEJG5RTCEJG5RTCEJFKFCMVKM
#
#RCTKEKQ)WKNNGTOQ
&GT6GWHGNKO&GVCKN¸#WHN¸5VWVVICTV5EJOGVVGTNKPI¸8GTN¸55RCPKUEJH©T$GUUGTYKUUGT)
#RCTKEKQ$F
+5$0¸¸¸
5EJNCIY¨TVGT5RTCEJUEJYKGTKIMGKV59&¸+&
5CEJITWRRGP5RCPKUEJG5RTCEJG5RTCEJFKFCMVKM
#
#
#RCTKEKQ)WKNNGTOQ
9CUFGP&GWVUEJGPCO5RCPKUEJGPURCPKUEJXQTMQOOV¸FWTEJIGUWPFMQTTKIKGTVG#WHN¸5VWVVICTV
5EJOGVVGTNKPI¸8GTN¸5+NN5RCPKUEJH©T$GUUGTYKUUGT)#RCTKEKQ$F
+5$0¸¸¸MCTV
5EJNCIY¨TVGT5RTCEJUEJYKGTKIMGKV59&¸+&
5CEJITWRRGP5RCPKUEJG5RTCEJG5RTCEJFKFCMVKM
#
#
#WDºG¸$QWTNKIWGWZ,QEGN[PG
.QTECQWNCUWDNKOGOºGNCPEQNKGOQTVUGVXKGUFG(GFGTKEQ)CTEKC.QTECDKQITCRJKG,QEGN[PG#WDºG¸$QWTNKIWGWZ¸
%TQKUU[¸$GCWDQWTI'F#FGP¸5+NNEO
.GEGTENGFGURQ¹GVGUFKURCTWU
$KQITCRJ[QH()CTEºKC.QTEC¸
+5$0¸¸¸¸
5EJNCIY¨TVGT)CTEºKC.QTEC(GFGTKEQ59&¸+&$KQITCRJKG
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
$CTICNNºQ8CNNU,QUGR
3W¹GºGUNCO¹GVTKECKPVTQFWEEKºQCNCXGTUKHKECEKºQECVCNCPC,QUGR$CTICNNºQ8CNNU¸GF¸$CTEGNQPC'FKEKQPU
¸REO
#WNC
$KDNKQITCHºKCR=?¸
+5$0¸¸¸
5EJNCIY¨TVGT-CVCNCPKUEJ59&¸+&/GVTKM59&¸+&
5CEJITWRRGP-CVCNCPKUEJG5RTCEJGWPF.KVGTCVWT5VKNKUVKM4JGVQTKM.KVGTCVWTYKUUGPUEJCHV #
$GEMGT%JTKUVKPC
7PVGTUWEJWPIGP\WT5RTCEJXGTYGPFWPIFGTRQNKVKUEJGP.KPMGP5RCPKGPU%JTKUVKPC$GEMGT¸(TCPMHWTVCO/CKP=WC?
.CPI¸5ITCRJ&CTUVOOZOO
$QPPGT4QOCPKUVKUEJG#TDGKVGP
<WIN$QPP7PKX&KUU
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKGP59&¸+&&KG.KPMG59&¸+&5RTCEJIGDTCWEJ59&¸+&
(QTVUEJTKVV59&¸+&$GITKHH59&¸+&)GUEJKEJVG¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&-QOOWPKMCVKQP59&¸+&&KG.KPMG59&¸+&
5RCPKGP59&¸+&*QEJUEJWNUEJTKHV
5CEJITWRRGP5RCPKUEJG5RTCEJG5Q\KQNKPIWKUVKM5QPUVKIGU
#
$GTOGLQ%CNNGLC(GNKUC
.GUWDQTFKPCVGCXXGTDKCNKWPQUVWFKQEQPVTCUVKXQURCIPQNQ¸KVCNKCPQ(GNKUC$GTOGLQ%CNNGLC¸GF¸$QNQIPC
$QPQPKC7PKX2TGUU¸5EO
5VWFKKPVGTFKUEKRNKPCTKUWVTCFW\KQPGNKPIWGGEWNVWTG
%QPVCKPUKPVTQFWEVKQPKP+VCNKCPCPF5RCPKUJ¸($GTOGLQ%CNNGLCVGCEJGUCVVJG7PKXGTUKV[QH6WTKP¸+PENWFGU
DKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&+VCNKGPKUEJ59&¸+&#FXGTDKCNG59&¸+&
*[RQVCZG59&¸+&
5CEJITWRRGP5RCPKUEJG5RTCEJG+VCNKGPKUEJG5RTCEJG8GTINGKEJGPFG5RTCEJYKUUGPUEJCHV
#
.C$KDNKCGPNCNKVGTCVWTCGURC¼PQNCFKTRQT)TGIQTKQFGN1NOQ.GVG¸/CFTKF'F6TQVVC=WC?¸
.CFKEJCFGGPOWFGEGT
.KVGTCVWTCPICDGP
+5$0¸¸¸¸1DTCEQORNGVC
5EJNCIY¨TVGT$KDGN59&¸+&4G\GRVKQP59&¸+&5RCPKUEJ59&¸+&
.KVGTCVWT59&¸+&#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT.KVGTCTKUEJG'KPHN©UUGWPF$G\KGJWPIGP4G\GRVKQP
$KDNKQITCHºKCFGN3WKLQVGRQTWPKFCFGUPCTTCVKXCU[OCVGTKCNGUFGNCPQXGNC%GPVTQFG'UVWFKQU%GTXCPVKPQU,CKOG
(GTPºCPFG\¸#NECNºCFG*GPCTGU%GPVTQFG'UVWFKQU%GTXCPVKPQU¸
+5$0¸¸¸¸
5EJNCIY¨TVGT%GTXCPVGU5CCXGFTC/KIWGNFG&QP3WKLQVG59&¸+&$KDNKQITCRJKG
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
$QIPQNQ#PPC
.GCPFTQGN$GN6QNGFQ/KIWGN(GTTGTIWºKCFGNGEVWTCRQT#PPC$QIPQNQ¸#NECNºCFG*GPCTGU%GPVTQFG
'UVWFKQU%GTXCPVKPQU¸5
+5$0¸¸¸¸
5EJNCIY¨TVGT.GCPFTQGNDGN59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
$QPCEJGTCº#NXCTG\6TKPKFCF
8C[CEQPFKQU4GFGPUCTVGP&GWVUEJ¸5RCPKUEJ2GFTQº#NXCTG\1NC¼PGVC6TKPKFCF$QPCEJGTCº#NXCTG\¸-¨NP
#PCEQPFC8GTN¸5+NNEO
+5$0¸¸¸¸
5EJNCIY¨TVGT&GWVUEJ59&¸+&2JTCUGQNQIKG59&¸+&9¨TVGTDWEJ5RCPKUEJ59&¸
+&
5CEJITWRRGP4JGVQTKM5VKNKUVKM5RTCEJYKUUGPUEJCHV &GWVUEJG5RTCEJG5RCPKUEJG5RTCEJG
#
$QTIGU2CWNQ
2TKPEºKRKQGOCPKHGUVCÆE¼CQOGVCHºKUKECGVGQNQIKCFCQTKIGOGO6GKZGKTCFG2CUEQCGU2CWNQ$QTIGU¸.KUDQC+ORTGUC
0CEKQPCN¸EO
6FG2CUEQCGU¸¸2$QTIGUVGCEJGUCVVJG7PKXGTUKV[QH.KUDQC¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸
5EJNCIY¨TVGT2CUEQCGU6GKZGKTCFG59&¸+&/GVCRJ[UKM59&¸+&6JGQNQIKG59&¸
+&
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
$QTTGICPC#PVºQPKQ#HQPUQ
#NOGKFC)CTTGV#NGZCPFTG*GTEWNCPQQVGZVQGOCPºCNKUG#PVºQPKQ#HQPUQ$QTTGICPC¸GF¸.KUDQC6GZVQ'F
¸5
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT)CTTGVV,Q¼CQ$CRVKUVCFC5KNXC.GKV¼CQFG#NOGKFC59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
$QTTGICPC#PVºQPKQ#HQPUQ
#OQTFGRGTFKÆE¼CQFG%COKNQ%CUVGNQ$TCPEQ1UOCKCUFG'ÆECFG3WGKTQUQVGZVQGOCPºCNKUG#PVºQPKQ#HQPUQ
$QTTGICPC¸GF¸.KUDQC6GZVQ'F¸5
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT%CUVGNQ$TCPEQ%COKNQ#OQTFGRGTFKÆE¼CQ59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
$QTTGICPC#PVºQPKQ#HQPUQ
%CO¼QGUNºKTKEQQVGZVQGOCPºCNKUG#PVºQPKQ#HQPUQ$QTTGICPC¸GF¸.KUDQC6GZVQ'F¸5
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT%CO¼QGU.WK\FG59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
$QTTGICPC#PVºQPKQ#HQPUQ
%CPEKQPGKTQIGTCN$GTPCTFKO4KDGKTQ5ºCFG/KTCPFC#PVºQPKQ(GTTGKTC&KQIQ$GTPCTFGUQVGZVQGOCPºCNKUG#PVºQPKQ
#HQPUQ$QTTGICPC¸GF¸.KUDQC6GZVQ'F¸5
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT%CPEKQPGKTQIGTCN59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
$QTTGICPC#PVºQPKQ#HQPUQ
(GTPCPFQ2GUUQCGJGVGTºQPKOQUQVGZVQGOCPºCNKUG#PVºQPKQ#HQPUQ$QTTGICPC¸GF¸.KUDQC6GZVQ'F¸
5
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT2GUUQC(GTPCPFQ59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
$QTTGICPC#PVºQPKQ#HQPUQ
2QGUKCDCTTQEC2CFTG#PVºQPKQ8KGKTCPGQENCUUKEKUOQ$QECIGCPºCNKUGFCQDTC#PVºQPKQ#HQPUQ$QTTGICPC¸GF¸
.KUDQC6GZVQ'F¸5
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT2QTVWIKGUKUEJ59&¸+&.KVGTCVWT59&¸+&%WNVGTCPKUOQ59&¸+&
.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM.KVGTCVWTIGUEJKEJVG
#
$QTTGICPC#PVºQPKQ#HQPUQ
1UUQPGVQUFG#PVGTQFG3WGPVCNQVGZVQGOCPºCNKUG#PVºQPKQ#HQPUQ$QTTGICPC¸GF¸.KUDQC6GZVQ'F
¸5
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT3WGPVCN#PVGTQFG59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
$WICTºKP.ºQRG\/C:GUºWU
1ICNGIQHWPFCOGPVCNFKEKQPCTKQFGHTGEWGPEKCU/C:GUºWU$WICTºKP.ºQRG\¸#%QTW¼PC(WPFCEKºQP2GFTQ$CTTKºGFG
NC/C\C¸REO
$KDNKQVGEC(KNQNºQZKECICNGIC
&KEVKQPCT[¸6GZVKP)CNKEKCP
+5$0¸¸¸¸
5EJNCIY¨TVGT)CNKEKUEJ59&¸+&9QTVJ§WHKIMGKV59&¸+&9¨TVGTDWEJ
5CEJITWRRGP4QOCPKUEJG5RTCEJGPWPF.KVGTCVWTGP5QPUVKIGU.GZKMQNQIKG
#
%CNFGTºQPGPNC%QORC¼PºKCPCEKQPCNFGVGCVTQENºCUKEQC¼PQFKTKIKFQRQT,QUºG/CTºKC&ºKG\$QTSWG¸GF¸/CFTKF
%QORC¼PºKC0CEKQPCN6GCVTQ%NºCUKEQ¸RKNNUQOGEQNEO
%WCFGTPQUFGVGCVTQENºCUKEQ
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
5EJNCIY¨TVGT%CNFGTºQPFGNC$CTEC2GFTQ.CXKFCGUUWG¼PQ59&¸+&%CNFGTºQPFGNC$CTEC2GFTQ.C
FCOCFWGPFG59&¸+&%CNFGTºQPFGNC$CTEC2GFTQ'NCNECNFGFG<CNCOGC59&¸+&
/CFTKF%QORC¼PºKC0CEKQPCNFG6GCVTQ%NºCUKEQ59&¸+&+PU\GPKGTWPI59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT&TCOCVKM6JGCVGTIGUEJKEJVG
#
%CTFQPC+TGPG
1TCRC\FGDTQP\GFG5QRJKCFG/GNNQ$TG[PGT#PFTGUGPCPºCNKUGFCQDTC+TGPG%CTFQPC/CTKC#OºGNKC#NOGKFC¸
GF¸.KUDQC6GZVQ'F¸5+NN
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT#PFTGUGP5QRJKCFG/GNNQ$TG[PGT1TCRC\FGDTQP\G59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
%CTG[&QWINCU/E#TVJWT
#UKFGUCPFKPVGTKQTKV[KP5RCPKUJNKVGTCVWTGQHVJG)QNFGP#IG&QWINCU/E#TVJWT%CTG[¸¸+:5
-QRKG¸<WIN&WTJCO&WMG7PKX&KUU
4GRQTVPT##6
5EJNCIY¨TVGT5RCPKUEJ59&¸+&.KVGTCVWT59&¸+&5KINQFGQTQ59&¸+&
+PPGTGT/QPQNQI59&¸+&*QEJUEJWNUEJTKHV
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
%CTOQ)TCÆEC
#OGPKPCFQOCTFG5QRJKCFG/GNNQ$TG[PGT#PFTGUGPQVGZVQGOCPºCNKUG)TCÆEC%CTOQ.GQPQT1NKXGKTC¸GF
¸.KUDQC6GZVQ'FKVQTC¸5
0QXCU.GKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT#PFTGUGP5QRJKCFG/GNNQ$TG[PGT#OGPKPCFQOCT59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
%CTPGTQ)WKNNGTOQ
'N)TWRQ%ºCPVKEQFG%ºQTFQDCWPGRKUQFKQENCXGFGNCJKUVQTKCFGNCRQGUºKCGURC¼PQNCFGRQUIWGTTC)WKNNGTOQ
%CTPGTQ¸/CFTKF8KUQT¸5+NNEO
$KDNKQVGECHKNQNºQIKECJKURºCPC
+5$0¸¸¸¸
5EJNCIY¨TVGT%ºCPVKEQ59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT.[TKM
#
%CTTKNJQ(GTPCPFC
5GTO¼CQFG5CPVQ#PVºQPKQCQURGKZGUFG2CFTG#PVºQPKQ8KGKTCQVGZVQGOCPºCNKUG(GTPCPFC%CTTKNJQ¸GF¸.KUDQC
6GZVQ'F¸5
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT8KGKTC#PVQPKQ5GTO¼CQCQURGKZGU59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
%CTTKºQP,QTIG
8KCLGEQPVTCGURCEKQ,WCP)Q[VKUQNQ[9)5GDCNF,QTIG%CTTKºQP¸/CFTKF+DGTQCOGTKECPC¸5
EO
0WGXQU*KURCPKUOQU
,)Q[VKUQNQ¸5RCPKUJYTKVGT9KPHTKGF)GQTI5GDCNF¸)GTOCPYTKVGT¸.KVGTCVWTXGT\5=?¸
+5$0¸¸¸¸¸+5$0¸¸¸¸
5EJNCIY¨TVGT)Q[VKUQNQ,WCP59&¸+&.KVGTCVWTVJGQTKG59&¸+&2QUVOQFGTPG59&¸
+&4GKUG/QVKX 59&¸+&5VKNNUVCPF/QVKX 59&¸+&(TCPSWKUOWU
59&¸+&
5GDCNF9KPHTKGF)59&¸+&.KVGTCVWTVJGQTKG59&¸+&2QUVOQFGTPG59&¸+&
4GKUG/QVKX 59&¸+&5VKNNUVCPF/QVKX 59&¸+&0CVKQPCNUQ\KCNKUOWU
59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT&GWVUEJG.KVGTCVWT.KVGTCTKUEJG5VQHHGNKVGTCTKUEJG/QVKXG
NKVGTCTKUEJG6JGOGP
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
%CTVQITCHKCKOCIKPºCTKCFG'FWCTFQ.QWTGPÆEQ¸FQUETºKVKEQUEQQTFFG/CTKC/CPWGN$CRVKUVC¸GF¸/CKC8GTQ
8GTUQ¸5+NN
%WNVWTCRQTVWIWGUC0T
&QURQGVCUGCOKIQU
+5$0¸¸
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5CEJITWRRGP2QTVWIKGUKUEJG5RTCEJG.GZKMQITCRJKG
#
%CUVTQ2KPVQ,/FG
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5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
#
%GNFTºCP)QOCTK\2CPETCEKQ
'NITCPNKDTQFGNQUKPUWNVQUVGUQTQETºKVKEQGVKOQNºQIKEQGJKUVºQTKEQFGNQUKPUWNVQUGURC¼PQNGU2CPETCEKQ%GNFTºCP
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5CEJITWRRGP5RCPKUEJG.KVGTCVWT&TCOCVKM6JGCVGTIGUEJKEJVG
#
%GTXCPVGUGPVTGNCUFQUQTKNNCU'FFG/CTºKC,GUºWU4WDKGTC/CVC¸=5CPV8KEGPVFGN4CURGKI?7PKXFG#NKECPVG
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5EJNCIY¨TVGT%GTXCPVGU5CCXGFTC/KIWGNFG59&¸+&-QPITGUU
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
'N%KFRQGUºKC[VGCVTQGF/CT<WDKGVC¸GF¸/CFTKF%QORC¼PºKC0CEKQPCNFG6GCVTQ%NºCUKEQ¸5
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5EJNCIY¨TVGT%KF'N59&¸+&2QGOCFGN%KF59&¸+&5RCPKUEJ59&¸+&
&TCOC59&¸+&#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
%NºCUKEQUFGURWºGUFGNQUENºCUKEQU%QORC¼PºKC0CEKQPCNFG6GCVTQ%NºCUKEQ¸/CFTKF/KPKUVGTKQFG%WNVWTC+PUVKVWVQ
0CEKQPCNFGNC#TVGU'UEºGPKECU[FGNC/ºWUKEC¸RKNNEO
%WCFGTPQUFGVGCVTQENºCUKEQ
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5EJNCIY¨TVGT5RCPKUEJ59&¸+&&TCOC59&¸+&5KINQFGQTQ59&¸+&
5RCPKGP59&¸+&6JGCVGT59&¸+&#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT&TCOCVKM
#
%NºCUKEQUGPVTGUKINQUFKTGEEKºQP,CXKGT*WGTVC%CNXQEQNCDQTCEKºQP*ºGEVQT7T\ºCK\6QTVCLCFCGFKEKºQP/CT<WDKGVC¸
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5CEJITWRRGP5RCPKUEJG.KVGTCVWT&TCOCVKM6JGCVGTIGUEJKEJVG
#
%QTTGVIGT/QPVUGTTCV
'UETKRVQTURGTKQFKUVGUKETºKVKEUGNEQODCVRGTNCPQXGNNC¸/QPVUGTTCV%QTTGVIGT¸GF¸$CTEGNQPC
#DCFºKCFG/QPVUGTTCV¸REO
6GZVQUKGUVWFKUFGEWNVWTCECVCNCPC
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5CEJITWRRGP-CVCNCPKUEJG5RTCEJGWPF.KVGTCVWT'RKM2TQUC
#
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5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT.[TKM.KVGTCVWTMTKVKM
#
%\GTYGPMC%JTKUVKPG
5WDUVCPVKX5WDUVCPVKXKO5RCPKUEJGP9QTVDKNFWPIWPF)TCOOCVKM%JTKUVKPG%\GTYGPMC¸(TCPMHWTVCO/CKP
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<WIN*GKFGNDGTI7PKX&KUU
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5EJNCIY¨TVGT5RCPKUEJ59&¸+&.KPIWKUVKM59&¸+&5WDUVCPVKX59&¸+&
9QTVDKNFWPI59&¸+&)TCOOCVKM59&¸+&¸3¸¸$5<
5CEJITWRRGP5RCPKUEJG5RTCEJG/QTRJQNQIKG9QTVDKNFWPI
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
&G$TW[PG,CESWGU
'NJWOQTGPGNGURC¼PQNHQTOCN,CESWGUFG$TW[PG¸%ºCEGTGU7PKFG'ZVTGOCFWTC5GTXKEKQFG2WDN¸5
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6TCDCLQUFGN&GRCTVCOGPVQFG(KNQNQIºKC*KURºCPKEC
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5EJNCIY¨TVGT5RCPKUEJ59&¸+&5VCPFCTFURTCEJG59&¸+&*WOQT59&¸+&
5CEJITWRRGP5RCPKUEJG5RTCEJG5Q\KQNKPIWKUVKM5QPUVKIGU
#
.GUFºGHKUFGNC%CVCNQIPGCWVQWTPCPVFWUK¹GENG¸%JTKUVKCP.CICTFGºGF¸2GTRKIPCP2TGUUGU7PKXFG
2GTRKIPCP¸5EO
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%QNNGEVGFGUUC[U¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
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5CEJITWRRGP0CVKQPCNKUOWU-CVCNCPKUEJG5RTCEJGWPF.KVGTCVWT
#
&GKZKU[OQFCNKFCFGPVGZVQUPCTTCVKXQU)GTFC*C•NGTGFU¸/©PUVGT0QFWU¸2WDN¸5ITCRJ
&CTUV
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5VWFKWO5RTCEJYKUUGPUEJCHV$GKJGHV
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5EJNCIY¨TVGT5RCPKUEJ59&¸+&2TQUC59&¸+&&GKZKU59&¸+&
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#
&K2CUSWCNG&CPKGNC
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&CPKGNC&K2CUSWCNG¸4QOC#TCEPG¸5+NNITCRJ&CTUVEO
6GTTC+DGTKEC5G\4KEGTEC
5EKGP\GFGNN
CPVKEJKV¹CHKNQNQIKEQ¸NGVVGTCTKGGUVQTKEQ¸CTVKUVKEJG
4GXKUGFVJGUKU¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU¸6GZVDGKVTKPRQTVWI5RTCEJG
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5EJNCIY¨TVGT/GVCUVCUKQ2KGVTQ59&¸+&/GNQFTCOC59&¸+&šDGTUGV\WPI59&¸+&
$GCTDGKVWPI59&¸+&2QTVWIKGUKUEJ59&¸+&*QEJUEJWNUEJTKHV
5CEJITWRRGP+VCNKGPKUEJG.KVGTCVWT2QTVWIKGUKUEJG.KVGTCVWT.KVGTCTKUEJG'KPHN©UUGWPF
$G\KGJWPIGP4G\GRVKQP
#
&ºKC\0CXCTTQ'RKEVGVQ
,WGIQUFGNGPIWCLGGPVQTPQCNCPCTTCVKXCGURC¼PQNCCEVWCN'RKEVGVQ&ºKC\0CXCTTQ¸)KLºQP.NKDTQUFGN2GZG¸
5
5KIPQUNGPIWCNKVGTCVWTCEQOWPKECEKºQPKOCIGP
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5EJNCIY¨TVGT5RCPKUEJ59&¸+&2TQUC59&¸+&^\^)GUEJKEJVG¸¸3¸¸1$8
5CEJITWRRGP5RCPKUEJG.KVGTCVWT'RKM2TQUC
#
&KEKQPCTKQFCQDTCFG#PVºQPKQ.QDQ#PVWPGU=FKTKIKFQRQT/CTKC#N\KTC5GKZQ?CWVQTGU/CTKC#N\KTC5GKZQ¸
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5EJNCIY¨TVGT#PVWPGU#PVºQPKQ.QDQ59&¸+&9¨TVGTDWEJ
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
&QEGEQOGFKCUDWUECPWPVCDNCFQ%QORC¼PºKC0CEKQPCNFG6GCVTQ%NºCUKEQ&KTKIKFQRQT(GNKRG$2GFTC\C,KOºGPG\¸
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%WCFGTPQUFGVGCVTQENºCUKEQ
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5EJNCIY¨TVGT5RCPKUEJ59&¸+&-QO¨FKG59&¸+&5KINQFGQTQ59&¸+&
#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT&TCOCVKM
#
&QO3WKZQVGCNGVTCGQUECOKPJQU/ºCTKC#WIWUVCFC%QUVC8KGKTCQTI¸5¼CQ2CWNQ'&752¸5
'PUCKQUFGEWNVWTC
5EJNCIY¨TVGT%GTXCPVGU5CCXGFTC/KIWGNFG&QP3WKLQVG59&¸+&#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
.CFTCOCVWTIKCFG.C%GNGUVKPCGF,QUºG/CTºKC4WCPQFGNC*C\C,GUºWU)/CGUVTQ¸8KIQ#ECFGOKCFGN
*KURCPKUOQ¸R
6JGCVTCNKCTGXKUVCFGRQºGVKECFGNVGCVTQ
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7PKXGTUKV[QH1VVCYC
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5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
&TCOCVWTIKCUHGOGPKPCUGPGNVGCVTQGURC¼PQNEQPVGORQTºCPGQGPVTGRCUCFQ[RTGUGPVG9KNHTKGF(NQGEM*GTDGTV(TKV\
#PC)CTEºKC/CTVºKPG\GFU¸*KNFGUJGKO=WC?1NOU¸5
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6GQTºKC[RTºCEVKECFGNVGCVTQ
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#
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¸.KUDQC&KFºCEVKEC'F¸5+NN
%JCOQ¸OG
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5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
#
'UVGDCU8KNCRNCPC'XC
6JGWUGCPFTGCNKUCVKQPQHCEEGPVWCNHQEWUKPEGPVTCN%CVCNCPYKVJCEQORCTKUQPVQ'PINKUJ'XC'UVGDCU8KNCRNCPC¸
/©PEJGP.+0%1/'WTQRC¸=8++?5+NN\CJNTITCRJ&CTUV
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.KVGTCVWTXGT\5¸
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5EJNCIY¨TVGT-CVCNCPKUEJ59&¸+&#M\GPV59&¸+&'PINKUEJ59&¸+&
5CEJITWRRGP8GTINGKEJGPFG5RTCEJYKUUGPUEJCHV'PINKUEJG5RTCEJG5RCPKUEJG5RTCEJG
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
(GTPCPFQ2GUUQC=P¼CQUGKSWCPVCUCNOCUVGPJQ%KFºCNKC(GTPCPFGUVGZVQ,QTIG/KIWGNKN?¸GF¸.KUDQC
&KFºCEVKEC'F¸5+NN
%JCOQ¸OG
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5EJNCIY¨TVGT2GUUQC(GTPCPFQ59&¸+&,WIGPFUCEJDWEJ
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
#
(KIWGKTGFQ%GEºKNKC5KNXC
*KUVºQTKCUFCVGTTCGFQOCTFG5QRJKCFG/GNNQ$TG[PGTCPºCNKUGFCQDTC#PVºQPKQ2GTGKTC%GEºKNKC5KNXC(KIWGKTGFQ¸
GF¸.KUDQC6GZVQ'F¸5+NN
0QXCUNGKVWTCU
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5EJNCIY¨TVGT#PFTGUGP5QRJºKCFG/GNNQ$TG[PGT*KUVºQTKCUFCVGTTCGFQOCT59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
(KIWTCUFCHKEÆE¼CQ%CTNQU4GKUEQQTF¸%QKODTC%GPVTQFG.KVGTCVWTC2QTVWIWGUC¸5
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5EJNCIY¨TVGT2QTVWIKGUKUEJ59&¸+&4QOCPIGUVCNV59&¸+&-QPITGUU
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT.KVGTCVWTMTKVKM
#
(NQGEM9KNHTKGF
'UVWFKQUETºKVKEQUUQDTGGNVGCVTQGURC¼PQNOGZKECPQ[RQTVWIWºGUEQPVGORQTºCPGQ9KNHTKGF(NQGEM¸*KNFGUJGKO=WC?
1NOU¸5
6GQTºKC[RTºCEVKECFGNVGCVTQ
.KVGTCVWTCPICDGP
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#WHUCV\UCOONWPI
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/GZKMQ59&¸+&6JGCVGT59&¸+&)GUEJKEJVG¸#WHUCV\UCOONWPI
5RCPKUEJ59&¸+&&TCOC59&¸+&)GUEJKEJVG¸#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT5RCPKUEJG.KVGTCVWTCW•GTJCND5RCPKGPU2QTVWIKGUKUEJG
.KVGTCVWT&TCOCVKM
#
#HNQTGUVCFG5QRJKCFG/GNNQ$TG[PGT#PFTGUGPQVGZVQGOCPºCNKUG#PC2CWNC&KCU¸GF¸.KUDQC6GZVQ'F
¸5+NN
0QXCUNGKVWTCU
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5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
(WVWTQGJKUVºQTKCFCNWUQHQPKCINQDCNQTIRQT/KIWGN,CUOKPU4QFTKIWGU¸.KUDQC+PUVKVWVQFG+PXGUVKIC¸E¼CQ
%KGPVºKHKEC6TQRKECN¸5EO&8&
%QNNGEVGFGUUC[U¸1PVJGEQWPVTKGUQHVJG%.2.%QOWPKFCFGFQU2CºKUGUFG.ºKPIWC2QTVWIWGUC¸+PENWFGU
DKDNKQITCRJKECNTGHGTGPEGU
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5CEJITWRRGP2QTVWIKGUKUEJG5RTCEJG5RTCEJNGPMWPI5RTCEJRQNKVKM
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
)CTQHCNQ)KQXCPPK
)ºGPGTQUFKUEWTUKXQUFGNCLWUVKEKCRGPCNWPCPºCNKUKUEQPVTCUVKXQGURC¼PQN¸KVCNKCPQQTKGPVCFQCNCVTCFWEEKºQP)KQXCPPK
)CTQHCNQ¸4KUVCORC¸/KNCPQ(TCPEQ#PIGNK¸REO
.KPIWCVTCFW\KQPGFKFCVVKEC
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
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5EJNCIY¨TVGT5RCPKUEJ59&¸+&+VCNKGPKUEJ59&¸+&5VTCHXGTHCJTGP59&¸+&
(CEJURTCEJG59&¸+&6GZVCPCN[UG59&¸+&
5CEJITWRRGP5RCPKUEJG5RTCEJG+VCNKGPKUEJG5RTCEJGšDGTUGV\WPIUYKUUGPUEJCHV
)TWRRGPURTCEJGP(CEJURTCEJGP5QPFGTURTCEJGP
#
)ºQOG\%CPUGEQ.WKU/CTºKC
2QGUºKC[EQPVGORNCEKºQPNCU&KXKPCUPWREKCUFG$GPKVQ#TKCU/QPVCPQ[UWGPVQTPQNKVGTCTKQ.WKU)ºQOG\%CPUGEQ
¸*WGNXC7PKXFG*WGNXC¸5+NNEO
$KDNKQVJGECOQPVCPKCPC
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5EJNCIY¨TVGT#TKCU/QPVCPQ$GPKVQ&KXKPCTWOPWRVKCTWOEQPXGPVCGVCEVC59&¸+&-WPUV59&¸
+&¸3¸¸$5<
5CEJITWRRGP)GUEJKEJVGFGT)TCRJKM5RCPKUEJG.KVGTCVWT5QPUVKIGNKVGTCTKUEJG)CVVWPIGP
#
)QPÆECNXGU/CTKC0GXGU.
1UOCKCUFG'ÆECFG3WGKTºQ\CPºCNKUGFCQDTC(GTPCPFQ'IºKFKQ4GKU/CTKC/CPWGNC8GPVWTC/CTKC0GXGU.GCN
)QPÆECNXGU¸GF¸.KUDQC6GZVQ'F¸5+NN
0QXCUNGKVWTCU
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5EJNCIY¨TVGT3WGKTºQU'ÆECFG1U/CKCU59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
)QPÆECNXGU/CTKC0GXGU.
/GOQTKCNFQEQPXGPVQFG,QUºG5CTCOCIQQVGZVQGOCPºCNKUG(GTPCPFQ'IºKFKQ4GKU/CTKC/CPWGNC8GPVWTC5CPVQU
/CTKC0GXGU.GCN)QPÆECNXGU¸GF¸.KUDQC6GZVQ'F¸5+NN
0QXCUNGKVWTCU
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5EJNCIY¨TVGT5CTCOCIQ,QUºG/GOQTKCNFQEQPXGPVQ59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
)QP\ºCNG\$NCPEQ#\WEGPC
'NKPUVCPVGNCEQPVTCFKEEKºQPNCRQGUºKCEQOQGZRGTKGPEKC[EQPQEKOKGPVQGP4QUCWTCº#NXCTG\[º#PIGNGU/QTC
#\WEGPC)QP\ºCNG\$NCPEQ¸)TCPCFC&KRWVCEKºQPFG)TCPCFC¸5EO
%QNGEEKºQP)GPKNFGNKVGTCVWTC
#NUQEQPVRQGOURCTVN[CNTGCF[RWDN¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸¸
5EJNCIY¨TVGTº#NXCTG\4QUCWTC59&¸+&/QTCº#PIGNGU59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
)QP\ºCNG\4COºKTG\&CXKF
.CJKUVQTKQITCHºKCNKVGTCTKCGURC¼PQNC[NCTGRTGUKºQPHTCPSWKUVCº#PIGN8CNDWGPC2TCVGPNCGPETWEKLCFC&CXKF)QP\ºCNG\
4COºKTG\¸/ºCNCIC7PKX¸5EO
'UVWFKQU[GPUC[QU
&KG8QTNCIGGPVJKPUIGUCOV9GTMG¸#8CNDWGPC2TCV¸5RCPKUJNKVGTCVWTGJKUVQTKCP¸&)QP\ºCNG\
4COºKTG\VGCEJGUCV7PKXGTUKV[QH/ºCNCIC
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKGP59&¸+&.KVGTCVWTIGUEJKEJVUUEJTGKDWPI59&¸+&(TCPSWKUOWU
59&¸+&¸3¸¸$5<
5CEJITWRRGP5RCPKUEJG.KVGTCVWT#WUDKNFWPI$GTWH1TICPKUCVKQPGP5RTCEJ¸WPF
.KVGTCVWTYKUUGPUEJCHV #
)TKNNK)KWUGRRG
%TQPCEJGFGNFKUCOQTGRGTEQTUKFGNTQOCP\QKDGTKEQVTCKN:+:GKN::UGEQNQ)KWUGRRG)TKNNK¸GF¸4QOC
#TCEPG¸5EO
#KQ
#¸¸5GTVR¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGUR¸CPFKPFGZ
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&4QOCP59&¸+&#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
*GKUVGTDGTI*GPFTKM
&QP3WKLQVGKOWPUKEJVDCTGP-KPQGKPG#PCN[UGHGJNIGUEJNCIGPGT8GTHKNOWPIGPXQP%GTXCPVGU
&QP3WKLQVGFGNC
/CPEJC*GPFTKM*GKUVGTDGTI¸#WHN¸/©PUVGT6GNQU8GTN5GKO¸5+NNOOZOO
+5$0¸¸¸¸
5EJNCIY¨TVGT%GTXCPVGU5CCXGFTC/KIWGNFG&QP3WKLQVG59&¸+&8GTHKNOWPI59&¸+&
/KUUGTHQNI59&¸+&)GUEJKEJVG
5CEJITWRRGP5RCPKUEJG.KVGTCVWT5[UVGOCVKUEJG(KNOYKUUGPUEJCHV
#
*GTP¹CPFG\K5QPCNK.NWºKU
&GUEQDTKPV/GTE¹G4QFQTGFC.NWºKU*GTP¹CPFG\K5QPCNK¸GF¸$CTEGNQPC.C)CNGTC¸RKNNEO
.CENCWOGUVTC
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸¸
5EJNCIY¨TVGT4QFQTGFCK)WTIWK/GTE¹G59&¸+&
5CEJITWRRGP-CVCNCPKUEJG5RTCEJGWPF.KVGTCVWT
#
*QOGO#OCFGW%CTXCNJQ
&QTQOCPVKUOQCQTGCNKUOQVGOCUFGEWNVWTCRQTVWIWGUCUºGEWNQ:+:#OCFGW%CTXCNJQ*QOGO¸2QTVQ
(WPFCÆE¼CQ'PI#PVºQPKQFG#NOGKFC=WC?¸5EO
#%*QOGORTQHGUUQTQHVJG%QPVGORQTCT[JKUVQT[QH2QTVWICNCV7PKXGTUKFCFGFG%QKODTC¸+PENWFGU
DKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸
5EJNCIY¨TVGT2QTVWIKGUKUEJ59&¸+&.KVGTCVWT59&¸+&
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT.KVGTCVWTUQ\KQNQIKG5RCPKGP2QTVWICN)GUEJKEJVG -WNVWTIGUEJKEJVG
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
+INGUKCU;QNCPFC
7PCPWGXCOKTCFCCNCRCTQFKCFGNCPQXGNCUGPVKOGPVCNGP.C%GNGUVKPC;QNCPFC+INGUKCU¸/CFTKF+DGTQCOGTKECPC
=WC?¸5EO
/GFKGXCNKC*KURCPKEC
.KVGTCVWTXGT\5¸
+5$0¸¸¸¸+DGTQCOGTKECPC
5EJNCIY¨TVGT%QOGFKCFG%CNKUVQ[/GNKDGC59&¸+&*¨HKUEJG/KPPG59&¸+&2CTQFKG
59&¸+&)GUEJKEJVG¸
5EJNCIY¨TVGT%QOGFKCFG%CNKUVQ[/GNKDGC59&¸+&0QXGNCUGPVKOGPVCN59&¸+&
2CTQFKG59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
+OCIGPGPGNXGTUQFGNUKINQFGQTQCNUKINQ::=GZRQUKEKºQP$KDNKQVGEC0CEKQPCN/CFTKFFGOCT\QCNFGOC[Q
FG?=EQOKUCTKQU,QUºG/CTºKC&ºKG\$QTSWG,QUºG2CWNKPQ#[WUQ?¸/CFTKF$KDNKQVGEC0CEKQPCN¸R
EQNKNNEO
=-QPIT?'ZRQUKEKºQP+OCIGPGPGN8GTUQFGN5KINQFG1TQCN5KINQ::/CFTKF¸
1PVJGTGNCVKQPUJKRDGVYGGPXKUWCNCTVUCPFRQGVT[
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&(KIWTGPIGFKEJV59&¸+&#WUUVGNNWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
%
,WCP$QNWHGT#ORCTQFG
8CNNG¸+PENºCPECPFKFCVQTGRWDNKECPQ,WCP$QNWHGT¸5CPVKCIQFG%QORQUVGNC7PKXFG5CPVKCIQFG%QORQUVGNC
¸5+NN
$KDNKQVGECFGNC%ºCVGFTC8CNNG¸+PENºCP
$KDNKQVGECFGNC%ºCVGFTC8CNNG¸+PENºCPFGNC7PKXGTUKFCFGFG5CPVKCIQFG%QORQUVGNC/QPQITCHºKCU
+5$0¸¸¸¸
5EJNCIY¨TVGT8CNNG¸+PENºCP4COºQPFGN59&¸+&5RCPKGP8GTHCUUWPIIGDGPFG8GTUCOONWPI¸
59&¸+&#DIGQTFPGVGT59&¸+&-CPFKFCVWT59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT5RCPKGP2QTVWICN)GUEJKEJVG #
-GTP8CPGUUC
5RKGNGPKO5RKGNFCU5RKGNFGT2TQVCIQPKUVGPCO$GKURKGNCWUIGY§JNVGTEQOGFKCUXQP.QRGFG8GIC8CPGUUC-GTP
¸5CCTDT©EMGP8&//©NNGT¸5EO
*GTIGUVGNNVQPFGOCPF¸.KVGTCVWTXGT\5¸
+5$0¸¸¸¸
5EJNCIY¨TVGT8GIC%CTRKQ.QRG(ºGNKZFG59&¸+&-QO¨FKG59&¸+&5RKGNKO5RKGN
59&¸+&)GUEJKEJVG
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
-W/GPIJUWCP
.CVTCFWEEKºQPFGNQUGNGOGPVQUNKPI©ºKUVKEQUEWNVWTCNGUEJKPQ¸GURC¼PQN'UVWFKQFG5WG¼PQGPNCUGUVCPEKCUTQLCU
/GPIJUWCP-W¸$CTEGNQPC7PKXGTUKVCV#WVQPQOCFG$CTEGNQPC¸1PNKPG4GUUQWTEG
<WUCV\GPVJ§NVEJKPGUKUEJG5EJTKHV\GKEJGPYGNEJGPKEJVVTCPUNKVGTKGTVYWTFGP¸<WIN$CTEGNQPC7PKX#WVQPQOC
&KUU
5EJNCIY¨TVGT%JKPGUKUEJ59&¸+&šDGTUGV\WPI59&¸+&5RCPKUEJ59&¸+&
*QEJUEJWNUEJTKHV1PNKPG¸2WDNKMCVKQP
5CEJITWRRGP5RCPKUEJG.KVGTCVWT%JKPGUKUEJG5RTCEJGWPF.KVGTCVWT
šDGTUGV\WPIUYKUUGPUEJCHV
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
.CXQ\FGNQUFTCOCVWTIQUGNVGCVTQGURC¼PQN[NCVKPQCOGTKECPQCEVWCN5WUCPPG*CTVYKI[-NCWU2¨TVNGFU¸
6©DKPIGP0KGOG[GT¸5
$GKJGHVG\WT+DGTQTQOCPKC
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKGP59&¸+&&TCOCVKMGT59&¸+&)GUEJKEJVG¸+PVGTXKGY
#WHUCV\UCOONWPI
.CVGKPCOGTKMC59&¸+&&TCOCVKMGT59&¸+&)GUEJKEJVG¸+PVGTXKGY
#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT5RCPKUEJG.KVGTCVWTCW•GTJCND5RCPKGPU&TCOCVKM
4GIKG&TCOCVWTIKG6JGCVGT #
.COGNC#PVQPKQ
&GNKFKQOCGURC¼PQN[UWHWVWTQ#PVQPKQ.COGNC+NNWUVTCEKQPGUFG#PVQPKQ/KPIQVG¸2Q\WGNQFG#NCTEQP/CFTKF
'URCUC¸5+NN
'URCUCJQ[
5EJNCIY¨TVGT5RCPKUEJ59&¸+&5Q\KQNKPIWKUVKM59&¸+&¸3¸¸$8$
5CEJITWRRGP5RCPKUEJG5RTCEJG*KUVQTKUEJG.KPIWKUVKM5RTCEJNGPMWPI5RTCEJRQNKVKM
#
.CRGUC4CHCGN
*KUVQTKCFGNCNGPIWCGURC¼PQNC4CHCGN.CRGUC2TºQNQIQFG4COºQP/GPºGPFG\2KFCN¸/CFTKF'F)TGFQU¸
5-V
0WGXC$KDNKQVGECTQOºCPKECJKURºCPKEC
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&^\^)GUEJKEJVG¸3¸¸1$8
5CEJITWRRGP5RCPKUEJG5RTCEJG*KUVQTKUEJG.KPIWKUVKM
#
.GPIWCPCEKºQPGKFGPVKFCFNCTGIWNCEºKQPFGNRNWTKNKPIÀWKUOQGP'URC¼PC[#OºGTKEC.CVKPC=UWTIKFQUFGN%QNQSWKQ
+PVGTPCEKQPCN4GNCEKQPGUGPVTG.GPIWC0CEKºQP+FGPVKFCF[2QFGTGP'URC¼PC*KURCPQCOºGTKEC['UVCFQU7PKFQU
$GTNKP+PUVKVWVQ+DGTQ¸#OGTKECPQ?-KTUVGP5©UGNDGEMGFU¸/CFTKF+DGTQCOGTKECPC=WC?¸
5+NNEO
=-QPIT?%QNQSWKQ+PVGTPCEKQPCN4GNCEKQPGUGPVTG.GPIWC0CEKºQP+FGPVKFCF[2QFGTGP'URC¼PC*KURCPQCOºGTKEC[
'UVCFQU7PKFQU$GTNKP
$KDNKQVJGEC+DGTQ¸#OGTKECPC
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU¸$GKVTVGKNYURCPVGKNYGPIN
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKGP59&¸+&-CVCNCPKUEJ59&¸+&/GJTURTCEJKIMGKV59&¸+&
0CVKQPCNDGYWUUVUGKP59&¸+&-QPITGUU$GTNKP .CVGKPCOGTKMC59&¸+&+PFKCPGTURTCEJGP59&¸+&/GJTURTCEJKIMGKV59&¸+&
0CVKQPCNDGYWUUVUGKP59&¸+&-QPITGUU$GTNKP 5EJNCIY¨TVGT5RCPKUEJ59&¸+&0CVKQPGPDKNFWPI59&¸+&.CVGKPCOGTKMC59&¸+&
^H^#WHUCV\UCOONWPI¸3¸¸$8$
5CEJITWRRGP5RTCEJNGPMWPI5RTCEJRQNKVKM'KP\GNPG5RTCEJGPWPF.KVGTCVWTGPCNNIGOGKP
5RCPKUEJG5RTCEJG
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
.KRUMK,QJP/
8CTKGVKGUQH5RCPKUJKPVJG7PKVGF5VCVGU,QJP/.KRUMK¸9CUJKPIVQP&%)GQTIGVQYP7PKX2TGUU¸:++
5
)GQTIGVQYPUVWFKGUKP5RCPKUJNKPIWKUVKEU
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGUCPFKPFGZ¸6JGKORQTVCPEGQH5RCPKUJKPVJG7PKVGF5VCVGU¸¸1XGTXKGYQH
UEJQNCTUJKRQP5RCPKUJKPVJG7PKVGF5VCVGU¸¸5RCPKUJ'PINKUJQT¬5RCPINKUJ¬!¸¸/GZKECP5RCPKUJKPVJG7PKVGF
5VCVGU¸¸%WDCP5RCPKUJKPVJG7PKVGF5VCVGU¸¸2WGTVQ4KECP5RCPKUJKPVJG7PKVGF5VCVGU¸¸&QOKPKECP5RCPKUJKP
VJG7PKVGF5VCVGU¸¸%GPVTCN#OGTKECP5RCPKUJKPVJG7PKVGF5VCVGU¸¸5CNXCFQTCP5RCPKUJKPVJG7PKVGF5VCVGU¸¸
0KECTCIWCP5RCPKUJKPVJG7PKVGF5VCVGU¸¸)WCVGOCNCPCPF*QPFWTCP5RCPKUJKPVJG7PKVGF5VCVGU¸¸6TCFKVKQPCN
XCTKGVKGU0GY/GZKEQCPF.QWKUKCPC¸¸.CPIWCIGOKZKPICPFEQFG¸UYKVEJKPI
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&75#59&¸+&5RTCEJXCTKCPVG59&¸+&¸
3¸¸$5<
5CEJITWRRGP5RCPKUEJG5RTCEJG
#
.NQTGF;CPPKEM
,WCP)Q[VKUQNQNGUQKNGOQPFGGVNCETºGCVKQPNKVVºGTCKTG;CPPKEM.NQTGF¸8KNNGPGWXG¸F
#UES0QTF2TGUUGU7PKX
FW5GRVGPVTKQP¸5EO
,)Q[VKUQNQ¸
+5$0¸¸¸¸
5EJNCIY¨TVGT)Q[VKUQNQ,WCP59&¸+&4QOCP59&¸+&^\^)GUEJKEJVG¸¸3¸
¸1$8
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
.QRGFG8GICGPNC%QORC¼PºKC0CEKQPCNFG6GCVTQ%NºCUKEQC¼PQFKTKIKFQRQT(GNKRG$2GFTC\C,KOºGPG\¸GF
¸/CFTKF%QORC¼PºKC0CEKQPCNFG6GCVTQ%NºCUKEQ¸RKNNEO
%WCFGTPQUFGVGCVTQENºCUKEQ
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
5EJNCIY¨TVGT8GIC%CTRKQ.QRG(GNKZFG.CFCOCDQDC59&¸+&8GIC%CTRKQ.QRG(ºGNKZFG
2GTKDºC¼PG\[GNEQOGPFCFQTFG1EC¼PC59&¸+&/CFTKF%QORC¼PºKC0CEKQPCNFG6GCVTQ%NºCUKEQ59&¸
+&+PU\GPKGTWPI59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT&TCOCVKM6JGCVGTIGUEJKEJVG
#
.QWTGPÆEQ'FWCTFQ
(GTPCPFQTGKFCPQUUCDCXKGTC'FWCTFQ.QWTGPÆEQ¸.KUDQC+ORTGPUC0CEKQPCN¸%CUCFC/QGFC¸5
+5$0¸¸
5EJNCIY¨TVGT2GUUQC(GTPCPFQ59&¸+&#WHUCV\UCOONWPI
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
#
/CPWCNFGGURC¼PQNWTIGPVG(WPFCEKºQPFGN'URC¼PQN7TIGPVG¸GFEQTTFGN/CPWCNFGGUVKNQFGNC#IGPEKC'('¸
/CFTKF'F%ºCVGFTC¸5EO
.KPI©ºKUVKEC
(KTUVGFVJTGXGPNCTIGFCPFWRFCVGFGF¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU¸0GDGPV/CPWCNFGGUVKNQFG
NC#IGPEKC'('
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&5RTCEJHGTVKIMGKV59&¸+&^H^9¨TVGTDWEJ¸3¸¸1$8
5CEJITWRRGP5RCPKUEJG5RTCEJG4JGVQTKM5VKNKUVKM5RTCEJYKUUGPUEJCHV *4QO
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
/CTVºKP4GDGEC
.CCOGPC\CFGN[QGNFQDNGGPGNEWGPVQGURC¼PQNFGNUKINQ:+:4GDGEC/CTVºKP¸8KIQ#ECFGOKCFGN*KURCPKUOQ
¸R
2WDNKECEKQPGUCECFºGOKECU$KDNKQVGECFGGUETKVWTCURTQHCPCU
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&'T\§JNWPI59&¸+&&QRRGNI§PIGT59&¸+&
^\^)GUEJKEJVG¸¸3¸¸$8$
5CEJITWRRGP5RCPKUEJG.KVGTCVWT'RKM2TQUC.KVGTCTKUEJG5VQHHGNKVGTCTKUEJG/QVKXG
NKVGTCTKUEJG6JGOGP
#
/CTVºKP4QOGTQ,QUºG,WNKQ
'PVTGGN4GPCEKOKGPVQ[GN$CTTQEQ2GFTQFGNC5KGTTC[UWQDTC,QUºG,WNKQ/CTVºKP4QOGTQ¸<CTCIQ\C2TGPUCU
7PKXGTUKVCTKCUFG<CTCIQ\C¸REO
*WOCPKFCFGU
2GFTQFGNC5KGTTCVJEGPV5RCPKUJYTKVGT
+5$0¸¸¸¸
5EJNCIY¨TVGT5KGTTC2GFTQFGNC59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
/CTVºKPG\4WK\(NQTGPEKQ
#RTQZKOCEKºQPCNCQDTCPCTTCVKXCFG/GNKCPQ2GTCKNGOºCIKEQNGPIWCLG[HGTXQTºGVKEQGPNQUTGNCVQUFGWP\CJQTºKFGNC
/CPEJWGNC(NQTGPEKQ/CTVºKPG\4WK\¸%WGPEC&KRWVCEKºQP2TQXKPEKCNFG%WGPEC¸REO
%QNGEEKºQP#VCNC[C.KDTQUFGDQNUKNNQ
+5$0¸¸¸
5EJNCIY¨TVGT2GTCKNG/GNKCPQ59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
/CTZ9CNVGT
6TCPUHGTFGU5CMTCNGPFKG5§MWNCTKUKGTWPIEJTKUVNKEJGT&GPMHQTOGP/QVKXGWPF)GDT§WEJGKP%GTXCPVGU
&QP3WKLQVG
9CNVGT/CTZ¸(TCPMHWTVCO/CKP=WC?.CPI¸5EO
'WTQR§KUEJG*QEJUEJWNUEJTKHVGP4GKJG+DGTQ¸TQOCPKUEJG5RTCEJGPWPF.KVGTCVWTGP
<WIN$GTNKP(TGKG7PKX&KUU
+5$0¸¸¸¸
5EJNCIY¨TVGT%GTXCPVGU5CCXGFTC/KIWGNFG&QP3WKLQVG59&¸+&+PVGTVGZVWCNKV§V59&¸+&
2GTKMQRG59&¸+&-KTEJGPLCJT59&¸+&-CVJQNKUEJG-KTEJG59&¸+&
%GTXCPVGU5CCXGFTC/KIWGNFG&QP3WKLQVG59&¸+&'T\§JNVGEJPKM59&¸+&0CEJHQNIG
%JTKUVK59&¸+&&CU-CTPGXCNGUMG59&¸+&
5CEJITWRRGP
#
/CUK5C¼PºG5ºKNXKC
.GUPQXGNNGUF
GZKNKF
#XGNNºK#TVºKU¸)GPGT5ºKNXKC/CUK5C¼PºG¸GF¸$CTEGNQPC2WDNKECEKQPUFGN
#DCFKCFG
/QPVUGTTCV¸R
6GZVQUK'UVWFKUFG%WNVWTC%CVCNCPC
9KPPGTQH2TGOKQ(WPFCEKºQP/GTE¹G4QFQTGFC¸##TVºKU¸)GPGT¸%CVCNCPYTKVGT
+5$0¸¸¸¸
5EJNCIY¨TVGT#TVºKU¸)GPGT#XGNNºK59&¸+&'ZKNTQOCP59&¸+&*QEJUEJWNUEJTKHV
5CEJITWRRGP-CVCNCPKUEJG5RTCEJGWPF.KVGTCVWT
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
/CUK8KXGU,QCP
&COK¹C*WIWGVUGSÀW¹GPEKGU,QCP/CUK8KXGU¸GF¸$CTEGNQPC#DCFKCFG/QPVUGTTCV¸R
$KDNKQVGEC/KSWGNFGNU5CPVU1NKXGT
&*WIWGV¸%CVCNCPRQGV¸6GZVKP%CVCNCP
+5$0¸¸¸¸
5EJNCIY¨TVGT*WIWGV&COK¹C59&¸+&
5CEJITWRRGP-CVCNCPKUEJG5RTCEJGWPF.KVGTCVWT
#
/E-GPPC5WUCP/
%TCHVKPIVJGHGOCNGUWDLGEVPCTTCVKXGKPPQXCVKQPKPVJGUJQTVHKEVKQPQH'OKNKC2CTFQ$C\ºCP5WUCP//E-GPPC¸
9CUJKPIVQP&%%CVJQNKE7PKXQH#OGTKEC2TGUU¸:5
+5$0¸¸¸¸
5EJNCIY¨TVGT2CTFQ$C\ºCP'OKNKC59&¸+&-WT\IGUEJKEJVG59&¸+&'T\§JNVGEJPKM
59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
/ºGPFG\/Q[C#FGNCTFQ
.CXGTUCVKNKFCFFGNEQOGFKCPVGWPCCRTQZKOCEKºQPCNVGCVTQFG#PVQPKQ/CTVºKPG\$CNNGUVGTQU#FGNCTFQ/ºGPFG\
/Q[C¸6QNGFQ,WPVCFG%QOWPKFCFGUFG%CUVKNNC¸.C/CPEJC¸REQNKNNEO
%TGCEKºQPNKVGTCTKC
#PVQPKQ/CTVºKPG\$CNNGUVGT¸5RCPKUJRNC[YTKIJVYKPPGTQHUGXGTCN5RCPKUJRTK\GUHQTFTCOC
+5$0¸¸¸¸
5EJNCIY¨TVGT/CTVºKPG\$CNNGUVGTQU#PVQPKQ59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
/KITCEKºQP[GZKNKQGURC¼PQNGUGPGNUKINQ::=GNFGPQXKGODTGFGUGEGNGDTºQGPNC7PKXGTUKFCFFG<ºWTKEJWPC
,QTPCFC+PVGTFKUEKRNKPCTUQDTGNCOKITCEKºQP[GNGZKNKQGURC¼PQNGUGPGNUKINQ::?.WºKU/%CNXQ5CNICFQ+V\ºKCT.ºQRG\
)WKN8GTC<KUYKNGT[%TKUVKPC#NDK\W;GTGIWKGFU¸/CFTKF+DGTQCOGTKECPC=WC?¸5+NNITCRJ
&CTUVEO
=-QPIT?,QTPCFC+PVGTFKUEKRNKPCTUQDTGNC/KITCEKºQP[GN'ZKNKQ'URC¼PQNGUGPGN5KINQ::<ºWTKEJ
.KVGTCVWTCPICDGP
+5$0¸¸¸¸¸+5$0¸¸¸¸+DGTQCOGTKECPC
5EJNCIY¨TVGT5RCPKUEJ59&¸+&.KVGTCVWT59&¸+&)GUEJKEJVG¸-QPITGUU
<©TKEJ 5EJNCIY¨TVGT5RCPKGT59&¸+&#WUYCPFGTWPI59&¸+&^\^)GUEJKEJVG¸^H^
#WHUCV\UCOONWPI¸3¸¸1$8
5CEJITWRRGP5RCPKUEJG.KVGTCVWTCW•GTJCND5RCPKGPU
#
/QOEKNQXKE0CVCUC
#UQEKQNKPIWKUVKECPCN[UKUQHU¸CURKTCVKQPKPUGEQPFIGPGTCVKQP/CFTKFURGCMGTU0CVCUC/QOEKNQXKE¸/©PEJGP
.+0%1/¸+:5+NNITCRJ&CTUV-V
.+0%1/5VWFKGUKP4QOCPEGNKPIWKUVKEU
+5$0¸¸¸¸
5EJNCIY¨TVGT/CFTKF/WPFCTV59&¸+&5GUGQ59&¸+&5Q\KQNKPIWKUVKM59&¸+&
5EJNCIY¨TVGT/CFTKF/WPFCTV59&¸+&5GUGQ59&¸+&5Q\KQNKPIWKUVKM59&¸+&
¸3¸¸$8$
5CEJITWRRGP&KCNGMVQNQIKG5Q\KQNKPIWKUVKM#NNIGOGKPGU2JQPGVKM2JQPQNQIKG
5RCPKUEJG5RTCEJG
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
/QTC$WUVQU#TOCPFQ
.CVTCPUKVKXKFCFGPEQPUVTWEEKQPGUUWDQTFKPCFCUKPVTQFWEKFCURQTSWG#TOCPFQ/QTC$WUVQU¸/©PEJGP
.+0%1/'WTQRC¸5ITCRJ&CTUVEO
.+0%1/UVWFKGUKP4QOCPEGNKPIWKUVKEU
<WIN&KUU
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&6TCPUKVKXGU8GTD59&¸+&4GNCVKXUCV\59&¸+&
5EJNCIY¨TVGT5RCPKUEJ59&¸+&4GNCVKXUCV\59&¸+&6TCPUKVKXKV§V59&¸+&
¸3¸¸1$8
5CEJITWRRGP5RCPKUEJG5RTCEJG#NNIGOGKPG)TCOOCVKM5RCPKUEJG5RTCEJG
#
/QTCKU#TOKPFQ,QUºG
1K$TCUKNFGT-WTUH©TDTCUKNKCPKUEJGU2QTVWIKGUKUEJ0CKT0CICOKPG5QOOGT1FGVG0CICOKPG9GKFOCPP
#TOKPFQ,/QTCKU¸+UOCPKPI*WGDGT¸
5CEJITWRRGP2QTVWIKGUKUEJG5RTCEJG5RTCEJFKFCMVKM
/QTGPQ8ºKEVQT
¬3WGJCEGOQUEQP$CTQLC!4GHNGZKQPGUUQDTGNCEQJGTGPEKCDCTQLKCPC8ºKEVQT/QTGPQ¸2CORNQPC2COKGNC
¸RKNNEO
2COKGNCGPUC[Q[VGUVKOQPKQ
2KQ$CTQLC¸¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸¸
5EJNCIY¨TVGT$CTQLC2ºKQ59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
/QTGTC/CTEKCN
.CITCOºCVKECFGNNºGZKEQGURC¼PQN/CTEKCN/QTGTC¸GF¸$CFCLQ\'F#DGEGFCTKQ¸5
5GTKG)TCOºCVKEC
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&.GZKMQITCRJKG59&¸+&¸3¸¸1$8
5CEJITWRRGP5RCPKUEJG5RTCEJG.GZKMQNQIKG
#
.COWLGTFGNGVTCUQNCNGVTCJGTKFCFKUEWTUQU[TGRTGUGPVCEKQPGUUQDTGNCOWLGTGUETKVQTCGPGNUKINQ:+:GFKEKºQP[
FKTGEEKºQPFG2WTC(GTPºCPFG\[/CTKG¸.KPFC1TVGIC¸/CFTKF%QPUGLQ5WRGTKQTFG+PXGUVKICEKQPGU%KGPVºKHKECU
¸RKNNEO
%QNNGEVGFGUUC[U¸$QWPF¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKGP59&¸+&5EJTKHVUVGNNGTKP59&¸+&5Q\KCNG5VGNNWPI59&¸+&
#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT$GUQPFGTG.KVGTCVWTMCVGIQTKGP
#
0CICOKPG9GKFOCPP1FGVG
1K$TCUKNFGT-WTUH©TDTCUKNKCPKUEJGU2QTVWIKGUKUEJ0CKT0CICOKPG5QOOGT1FGVG0CICOKPG9GKFOCPP
#TOKPFQ,/QTCKU¸+UOCPKPI*WGDGT¸
5CEJITWRRGP2QTVWIKGUKUEJG5RTCEJG5RTCEJFKFCMVKM
0CTWOQX$QTKU2
(QTOKTQXCPKGTQOCPUMKEJNKVGTCVWTP[EJLC\[MQXUQXTGOGPP[LICNKUKLUMKLLC\[M$20CTWOQX¸+\FFQR¸
/QUMXC7455+\FCV.-+¸5
,C\[MKPCTQFQXOKTC
+5$0¸¸¸¸
5EJNCIY¨TVGT)CNKEKUEJ59&¸+&
5CEJITWRRGP4QOCPKUEJG5RTCEJGPWPF.KVGTCVWTGP5QPUVKIGU*KUVQTKUEJG.KPIWKUVKM
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
0CXCTTQ&WTºCP4QUC
5WRNKEQCXWGUVTCOGTEGFKPXKVCEKºQPCNCNGEVWTCFGN.C\CTKNNQFG6QTOGU4QUC0CXCTTQ&WTºCP¸8KIQ
#ECFGOKCFGN*KURCPKUOQ¸REO
2WDNKECEKQPGUCECFºGOKECU$KDNKQVGECGUETKVWTCURTQHCPCU
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸¸
5EJNCIY¨TVGT.CXKFCFG.C\CTKNNQFG6QTOGU[FGUWUHQTVWPCU[CFXGTUKFCFGU59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
0GITºQ#EGFQ.WKU
&KUEWTUQNKVGTCTKQ[FKUEWTUQRQNºKVKEQFGNHTCPSWKUOQNCNKVGTCVWTCEQOQUQRQTVG[EQTTGCFGVTCPUOKUKºQPFGNQU
RQUVWNCFQUKFGQNºQIKEQUFGNCFKEVCFWTC¸.WKU0GITºQ#EGFQ¸6TGU%CPVQU/CFTKF(QEC¸
5EO
(QECKPXGUVKICEKºQP
.KVGTCVWTXGT\5¸
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKGP59&¸+&(TCPSWKUOWU59&¸+&.KVGTCVWT59&¸+&
2TQRCICPFC59&¸+&^\^)GUEJKEJVG¸¸3¸¸$5<
5CEJITWRRGP5RCPKUEJG.KVGTCVWT.KVGTCVWTMTKVKM
#
0ºW¼PG\#PºKDCN
%CTVCRCEKQU¸#PºKDCN0ºW¼PG\GFKEKºQPKPVTQFWEEKºQPEQOGPVCTKQU(GTPCPFQ4FGNC(NQT)GTOºCP.CDTCFQT
/ºGPFG\RTºQNQIQ.WKU(GNKRG%QOGPFCFQT¸/ºGTKFC$CFCLQ\=WC?&GNC.WPC.KDTQU=WC?¸RKN
EO
'PNCRQTV%QGFKEKºQP+H'FKEKQPGU&GNC.WPC.KDTQU¸¸'UVCGFKEKºQPJCUKFQTGCNK\CFCGPGNOCTEQFGNRTQ[GEVQFG
KPXGUVKICEKºQP.KVGTCVWTCUGPVTºCPU
+5$0¸¸¸5RCPKUEJG.KVGTCVWT
#
1NKXGKTC.GQPQT
#OGPKPCFQOCTFG5QRJKCFG/GNNQ$TG[PGT#PFTGUGPQVGZVQGOCPºCNKUG)TCÆEC%CTOQ.GQPQT1NKXGKTC¸GF
¸.KUDQC6GZVQ'FKVQTC¸5
0QXCU.GKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT#PFTGUGP5QRJKCFG/GNNQ$TG[PGT#OGPKPCFQOCT59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
1UºQTKQ2CWNQ
+PVTQFWÆE¼CQ¹CJKUVºQTKCFCNºKPIWCRQTVWIWGUCFQUHCEVQTGUGZVGTPQU¹CFKP»COKECFQUKUVGOCNKPIWºKUVKEQ,CKOG(GTTGKTCFC
5KNXC2CWNQ1UºQTKQ¸.KUDQC'F%QUOQU¸5EO
5KPETQPKCGFKCETQPKC
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸
5EJNCIY¨TVGT2QTVWIKGUKUEJ59&¸+&'PVYKEMNWPI59&¸+&
5CEJITWRRGP2QTVWIKGUKUEJG5RTCEJG*KUVQTKUEJG.KPIWKUVKM
#
2C\QU/CTKC¸.NWÀKUC
.
COGPCÆECFGNECVCN¹CNKIJV/CTKC.NWÀKUC2C\QU¸GF¸$CTEGNQPC.C$WUEC'FKEKQPU¸REO
+5$0¸¸¸
5EJNCIY¨TVGT-CVCNCPKUEJ59&¸+&5RTCEJRQNKVKM59&¸+&
5CEJITWRRGP-CVCNCPKUEJG5RTCEJGWPF.KVGTCVWT5RTCEJNGPMWPI5RTCEJRQNKVKM
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
2GFTC\C,KOºGPG\(GNKRG$
.QRGFG8GICIGPKQ[HKIWTC(GNKRG$2GFTC\C,KOºGPG\¸)TCPCFC7PKXGTUKFCFFG)TCPCFC¸5EO
$KDNKQVGECFGDQNUKNNQFKXWNICVKXCEQNNGEVCPGCNKOKVCPGC
%QNNGEVKQPQHCNTGCF[RWDNGUUC[UPQYEQNNGEVGFKPQPGXQNWOG¸(ºGNKZ.QRGFG8GIC¸5RCPKUJFTCOCVKUV
+5$0¸¸¸¸
5EJNCIY¨TVGT8GIC%CTRKQ.QRG(ºGNKZFG59&¸+&^H^#WHUCV\UCOONWPI¸3¸¸1$8
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
2GTGKTC#PVºQPKQ
*KUVºQTKCUFCVGTTCGFQOCTFG5QRJKCFG/GNNQ$TG[PGTCPºCNKUGFCQDTC#PVºQPKQ2GTGKTC%GEºKNKC5KNXC(KIWGKTGFQ¸
GF¸.KUDQC6GZVQ'F¸5+NN
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT#PFTGUGP5QRJºKCFG/GNNQ$TG[PGT*KUVºQTKCUFCVGTTCGFQOCT59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
2GUSWKUCUGPNCQDTCVCTFºKCFG,WCP)Q[VKUQNQDCLQNCFKTFG$TKIKVVG#FTKCGPUGP[/CTEQ-WP\¸#OUVGTFCO=WC?
4QFQRK¸REO
(QTQJKURºCPKEQ
+5$0¸¸¸¸
5EJNCIY¨TVGT)Q[VKUQNQ,WCP59&¸+&2TQUC59&¸+&^\^)GUEJKEJVG¸^H^
#WHUCV\UCOONWPI¸3¸¸1$8
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
2KGFCFG#PC0CUEKOGPVQ
1WVTCOCTIGOGUVWFKQUFGNKVGTCVWTCGEWNVWTCRQTVWIWGUCU#PC0CUEKOGPVQ2KGFCFG¸.KUDQC+ORTGPUC0CEKQPCN¸
%CUCFC/QGFC¸5EO
6GOCURQTVWIWGUGU
%QNNGEVKQPQHCNTGCF[RWDNYTKVKPIU¸#02KGFCFGVGCEJGUCVVJG7PKXGTUKFCFG#DGTVC¸+PENWFGUDKDNKQITCRJKECN
TGHGTGPEGU
+5$0¸¸¸
5EJNCIY¨TVGT2QTVWIKGUKUEJ59&¸+&5RCPKUEJ59&¸+&.KVGTCVWT59&¸+&
-WNVWT59&¸+&#WHUCV\UCOONWPI
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RCPKUEJG.KVGTCVWT.KVGTCVWTMTKVKM
#
2KWU
'RºKUVQNCCN)TCP6WTEQ'PGC5KNXKQ2KEEQNQOKPK'FETKVKECGUVWFKQKPVTQFFK#PFTGC$CNFKUUGTC¸GF¸%QOQ
+DKU¸5EO
%CWVGTKQUWCXG
%TKVKECNGF¸+PENQTKI.CVKPVGZVVTCPUNKP5RCPKUJD[(GTPCPFQFG%ºQTFQDC¸¸+PENWFGUDKDNKQITCRJKECN
TGHGTGPEGU¸+VCNKCP5RCPKUJ.CVKP
+5$0¸¸¸¸
5EJNCIY¨TVGT2KWU2CRUV++ 'RKUVQNCCF/CJQOCVGO59&¸+&šDGTUGV\WPI59&¸+&
(GTPCPFQFG%ºQTFQDC 59&¸+&
5CEJITWRRGP5RCPKUEJG5RTCEJG/KVVGNNCVGKPKUEJG.KVGTCVWT.KVGTCTKUEJGšDGTUGV\WPI
#
2QºGVKECUFGNHTCECUQ;XGVVG5ºCPEJG\4QNCPF5RKNNGT'FU¸6©DKPIGP0CTT(TCPEMG#VVGORVQ8GTN¸5
+NNITCRJ&CTUV
(TCPMHWTVGT5VWFKGP\WT+DGTQTQOCPKCWPF(TCPMQRJQPKG
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&.KVGTCVWT59&¸+&8GTUCIGP/QVKX 59&¸+&
)GUEJKEJVG-QPITGUU5CPMV)CNNGP 5CEJITWRRGP5RCPKUEJG.KVGTCVWT5RCPKUEJG.KVGTCVWTCW•GTJCND5RCPKGPU.KVGTCTKUEJG5VQHHG
NKVGTCTKUEJG/QVKXGNKVGTCTKUEJG6JGOGP
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
3WGKTQ\%TKUVKPC$CTTQU
#GUVTGNCFG8GTIºKNKQ(GTTGKTCQVGZVQGOCPºCNKUG#PCFG5QWUCG%JTKUVKPC$CTTQU3WGKTQ\¸GF¸.KUDQC6GZVQ
'F¸5+NN
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT(GTTGKTC8GTIºKNKQ#GUVTGNC59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
3WGKTQ\)NºCWEKC/CTKCFG
.GMV©TGPH©TFGP2QTVWIKGUKUEJ¸7PVGTTKEJV)NºCWEKC/CTKCFG3WGKTQ\¸#WHN¸5VWVVICTV5EJOGVVGTNKPI¸8GTN
¸5+NNEO
+5$0¸¸¸¸¸¸¸
5EJNCIY¨TVGT2QTVWIKGUKUEJWPVGTTKEJV59&¸+&^H^.GJTOKVVGN¸3¸¸1$8
5CEJITWRRGP5RTCEJFKFCMVKM2QTVWIKGUKUEJG5RTCEJGWPF.KVGTCVWT
#
3WKTQ\%TKUVKPC$CTTQU
#GUVTGNC=FG8GTIºKNKQ(GTTGKTC?VGZVQGOCPºCNKUG#PCFG5QWUC%TKUVKPC$CTTQU3WKTQ\¸GF¸.KUDQC6GZVQ'F
¸5+NN
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT(GTTGKTC8GTIºKNKQ#GUVTGNC59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
4COQU0QºGOKQ
#WVQFCCNOCFG)KN8KEGPVG'TCUOQQW'PSWKTKFKQPG,ºWNKQ++CUHKIWTCUGVQFQUQUCWVQU0QºGOKQ4COQU¸.KUDQC
4COQU¸5EO
*KUVºQTKCFC'WTQRC
)8KEGPVG¸2QTVWIWGUGFTCOCVKUV'TCUOWU&GUKFGTKWUF¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸
5EJNCIY¨TVGT8KEGPVG)KN#WVQFCCNOC59&¸+&
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
#
4GKU(GTPCPFQ'IºKFKQ
1UOCKCUFG'ÆECFG3WGKTºQ\CPºCNKUGFCQDTC(GTPCPFQ'IºKFKQ4GKU/CTKC/CPWGNC8GPVWTC/CTKC0GXGU.GCN
)QPÆECNXGU¸GF¸.KUDQC6GZVQ'F¸5+NN
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT3WGKTºQU'ÆECFG1U/CKCU59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
4GKU(GTPCPFQ'IºKFKQ
/GOQTKCNFQEQPXGPVQFG,QUºG5CTCOCIQQVGZVQGOCPºCNKUG(GTPCPFQ'IºKFKQ4GKU/CTKC/CPWGNC8GPVWTC5CPVQU
/CTKC0GXGU.GCN)QPÆECNXGU¸GF¸.KUDQC6GZVQ'F¸5+NN
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT5CTCOCIQ,QUºG/GOQTKCNFQEQPXGPVQ59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
4QFTºKIWG\$CTEKC5WUCPC
.CTGCNKFCFTGNCVKXCGXQNWEKºQPKFGQNºQIKECGPGNVTCDCLQNGZKEQITºCHKEQFGNC4GCN#ECFGOKC'URC¼PQNC¸
5WUCPC4QFTºKIWG\$CTEKC¸8KIQ5GTXK\QFG2WDNKECEKºQPU7PKXGTUKFCFFG8KIQ¸REO
/QPQITCHºKCUFC7PKXGTUKFCFGFG8KIQ*WOCPKFCFGUGEKGPEKCUZWTºKFKEQ¸UQEKCKU
+5$0¸¸¸¸
5EJNCIY¨TVGT/CFTKF-¨PKINKEJG5RCPKUEJG#MCFGOKG59&¸+&.GZKMQITCRJKG59&¸+&
+FGQNQIKG59&¸+&^\^)GUEJKEJVG¸¸3¸¸1$8
5CEJITWRRGP5RCPKUEJG5RTCEJG.GZKMQITCRJKG
#
4QNGUFGIºGPGTQ[ECODKQUQEKCNGPNCNKVGTCVWTCGURC¼PQNCFGNUKINQ::EQQTF[GFKVCFQRQT2KNCT0KGXC¸FGNC2C\¸
#OUVGTFCO=GVE?4QFQRK¸REO
(QTQJKURºCPKEQ
/GVNKVQRI
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&.KVGTCVWT59&¸+&(TCW/QVKX 59&¸+&
)GUEJNGEJVGTTQNNG/QVKX 59&¸+&5RCPKGP59&¸+&5Q\KCNGT9CPFGN59&¸+&
#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT.KVGTCTKUEJG5VQHHGNKVGTCTKUEJG/QVKXGNKVGTCTKUEJG6JGOGP
#
4QUGU.Q\CPQ,QCSWºKP
)ºQPIQTCUQNGFCFGUJCDKVCFCU,QCSWºKP4QUGU.Q\CPQ¸/ºCNCIC7PKXGTUKFCFFG/ºCNCIC¸REO
6JGOC
.WKUFG)ºQPIQTC¸5RCPKUJRQGV¸,4QUGU.Q\CPQVGCEJGUCV7PKXGTUKV[QH%ºQTFQDC
+5$0¸¸¸¸
5EJNCIY¨TVGT)ºQPIQTC[#TIQVG.WKUFG5QNGFCFGU59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
4WK0WPGUCPVQNQIKCETºKVKECGRGUUQCN#PPCDGNC4KVCEQQTF¸.KUDQC4QOC¸5
(CEGUFG2GPºGNQRG
+5$0¸¸¸
5EJNCIY¨TVGT0WPGU4WK59&¸+&#WHUCV\UCOONWPI
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
#
4WVC/CTKC%CVGTKPC
/GOQTKCFGN3WKLQVG/CTºKC%CVGTKPC4WVC¸#NECNºCFG*GPCTGU%GPVTQFG'UVWFKQU%GTXCPVKPQU¸R
EO
$KDNKQVGECFGGUVWFKQUEGTXCPVKPQU
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸¸
5EJNCIY¨TVGT%GTXCPVGU5CCXGFTC/KIWGNFG&QP3WKLQVG59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
5CDGTGUGORQTVWIW»GUGPUKPQGHQTOCÆE¼CQFQEGPVG'FNGKUG/GPFGU¸%CORKPCU2QPVGU¸5
+5$0¸¸¸¸
5EJNCIY¨TVGT2QTVWICN59&¸+&2QTVWIKGUKUEJWPVGTTKEJV59&¸+&.GJTGTDKNFWPI59&¸
+&#WHUCV\UCOONWPI
5CEJITWRRGP2QTVWIKGUKUEJG5RTCEJG5RTCEJFKFCMVKM
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
5CPVQU/CTKC/CPWGNC8GPVWTC
1UOCKCUFG'ÆECFG3WGKTºQ\CPºCNKUGFCQDTC(GTPCPFQ'IºKFKQ4GKU/CTKC/CPWGNC8GPVWTC/CTKC0GXGU.GCN
)QPÆECNXGU¸GF¸.KUDQC6GZVQ'F¸5+NN
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT3WGKTºQU'ÆECFG1U/CKCU59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
5CPVQU/CTKC/CPWGNC8GPVWTC
/GOQTKCNFQEQPXGPVQFG,QUºG5CTCOCIQQVGZVQGOCPºCNKUG(GTPCPFQ'IºKFKQ4GKU/CTKC/CPWGNC8GPVWTC5CPVQU
/CTKC0GXGU.GCN)QPÆECNXGU¸GF¸.KUDQC6GZVQ'F¸5+NN
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT5CTCOCIQ,QUºG/GOQTKCNFQEQPXGPVQ59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
5CPVQU0KEQNCW
,CECTCPFºCGOWNGODCRQGUKC#PVºQPKQ%QUVC5KNXC0KEQNCW5CPVQU2TGH,QUºG5ºC%CTPGKTQ+NFCECRC#OºKNECT5QCTGU
¸.KUDQC)WKOCT¼CGU¸5
+5$0¸¸¸
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
#
5CUVTG#NHQPUQ
)TCPFGURCTCFQLCUFGNVGCVTQCEVWCN#NHQPUQ5CUVTG¸*QPFCTTKDKC)WKRºW\EQC*KTW¸5EO
'PUC[Q
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&&TCOC59&¸+&5RCPKGP59&¸+&
6JGCVGT59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT&TCOCVKM6JGCVGTIGUEJKEJVG
#
5EJWTNMPKIJV&QPCNF'CTN
2QYGTCPFFKUUGPV.CTTCCPFFGOQETCE[KPPKPGVGGPVJ¸EGPVWT[5RCKP&QPCNF'5EJWTNMPKIJV¸.GYKUDWTI
$WEMPGNN7PKX2TGUU¸5
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGUCPFKPFGZ
+5$0¸¸¸¸
5EJNCIY¨TVGT.CTTC/CTKCPQ,QUºGFG59&¸+&2QNKVKUEJGU&GPMGP59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT5RCPKGP2QTVWICN)GUEJKEJVG #
5GKUECOKPQUJCEKCGNOKVQFG&QP,WCPFKTKIKFQRQT%ºGUCT1NKXC¸GF¸/CFTKF%QORC¼PKC0CEKQPCNFG6GCVTQ
%NºCUKEQ¸RKNNUQOGEQNEO
%WCFGTPQUFGVGCVTQENºCUKEQ
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGUR¸
5EJNCIY¨TVGT&QP,WCP59&¸+&5RCPKUEJ59&¸+&&TCOC59&¸+&
+PU\GPKGTWPI59&¸+&#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT&TCOCVKM6JGCVGTIGUEJKEJVG
#
5ºGTIKQ/CPWGN
#PVºQPKQ1NKXGKTC%TW\QRQGVCFQFGUGLQ/CPWGN5ºGTIKQ¸.KUDQC+PUV2KCIGV¸5
2QPVQUFGXKUVC
+5$0¸¸¸
5EJNCIY¨TVGT%TW\#PVºQPKQ1NKXGKTC59&¸+&
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
5GTTCPQ#NQPUQ,CXKGT
8CNNG¸+PENºCPECPFKFCVQTGRWDNKECPQ,WCP$QNWHGT¸5CPVKCIQFG%QORQUVGNC7PKXFG5CPVKCIQFG%QORQUVGNC
¸5+NN
$KDNKQVGECFGNC%ºCVGFTC8CNNG¸+PENºCP
$KDNKQVGECFGNC%ºCVGFTC8CNNG¸+PENºCPFGNC7PKXGTUKFCFGFG5CPVKCIQFG%QORQUVGNC/QPQITCHºKCU
+5$0¸¸¸¸
5EJNCIY¨TVGT8CNNG¸+PENºCP4COºQPFGN59&¸+&5RCPKGP8GTHCUUWPIIGDGPFG8GTUCOONWPI¸
59&¸+&#DIGQTFPGVGT59&¸+&-CPFKFCVWT59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT5RCPKGP2QTVWICN)GUEJKEJVG #
5GTTCPQ5GTTCPQ,QCSWºKP
#PVQPKQFG8CNDWGPC¸RQGVCPCTTCFQT[ETºKVKEQRQNºGOKEQ,QCSWºKP5GTTCPQ5GTTCPQ¸.GºQP
7PKXGTUKFCFFG.GºQP5GETGVCTKCFQFG2WDN¸R+NNEO
$KQITCRJ[QH#8CNDWGPC5RCPKUJYTKVGT
+5$0¸¸¸¸
5EJNCIY¨TVGT8CNDWGPC#PVQPKQFG59&¸+&$KQITCRJKG
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
5KNXC#PVºQPKQ%QUVC
,CECTCPFºCGOWNGODCRQGUKC#PVºQPKQ%QUVC5KNXC0KEQNCW5CPVQU2TGH,QUºG5ºC%CTPGKTQ+NFCECRC#OºKNECT5QCTGU
¸.KUDQC)WKOCT¼CGU¸5
+5$0¸¸¸
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
#
5KNXC,CKOGFC
+PVTQFWÆE¼CQ¹CJKUVºQTKCFCNºKPIWCRQTVWIWGUCFQUHCEVQTGUGZVGTPQU¹CFKP»COKECFQUKUVGOCNKPIWºKUVKEQ,CKOG(GTTGKTCFC
5KNXC2CWNQ1UºQTKQ¸.KUDQC'F%QUOQU¸5EO
5KPETQPKCGFKCETQPKC
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸
5EJNCIY¨TVGT2QTVWIKGUKUEJ59&¸+&'PVYKEMNWPI59&¸+&
5CEJITWRRGP2QTVWIKGUKUEJG5RTCEJG*KUVQTKUEJG.KPIWKUVKM
#
5QOOGT0CKT0CICOKPG
1K$TCUKNFGT-WTUH©TDTCUKNKCPKUEJGU2QTVWIKGUKUEJ0CKT0CICOKPG5QOOGT1FGVG0CICOKPG9GKFOCPP
#TOKPFQ,/QTCKU¸+UOCPKPI*WGDGT¸
5CEJITWRRGP2QTVWIKGUKUEJG5RTCEJG5RTCEJFKFCMVKM
5QTKC1NOGFQ#PFTºGU
5KGVGGUVWFKQUUQDTGNC'FCFFG1TQ#PFTºGU5QTKC1NOGFQ¸)TCPCFC#NJWNKC¸RKNNEO
/KTVQ#ECFGOKC
%QNNGEVKQPQHGUUC[UQTKIKPCNN[RWDNKUJGF¸KPXCTKQWURWDNKECVKQPU¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGUR
=?¸
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&.KVGTCVWT59&¸+&5KINQFGQTQ59&¸+&
#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT.KVGTCVWTMTKVKM
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
5QWUC#PCFG
#GUVTGNCFG8GTIºKNKQ(GTTGKTCQVGZVQGOCPºCNKUG#PCFG5QWUCG%JTKUVKPC$CTTQU3WGKTQ\¸GF¸.KUDQC6GZVQ
'F¸5+NN
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT(GTTGKTC8GTIºKNKQ#GUVTGNC59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
5QWUC#PCFG
#GUVTGNC=FG8GTIºKNKQ(GTTGKTC?VGZVQGOCPºCNKUG#PCFG5QWUC%TKUVKPC$CTTQU3WKTQ\¸GF¸.KUDQC6GZVQ'F
¸5+NN
0QXCUNGKVWTCU
+5$0¸¸¸
5EJNCIY¨TVGT(GTTGKTC8GTIºKNKQ#GUVTGNC59&¸+&.GJTOKVVGN
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT5RTCEJFKFCMVKM
#
5RTCIWG2CWNC#
'N'WTQRGQ$CTEGNQPC¸RTGPUCOQFGTPKFCF[WPKXGTUCNKUOQ2CWNC#5RTCIWG¸/CFTKF
+DGTQCOGTKECPC=WC?¸IGVT<§JN
.CEWGUVKºQPRCNRKVCPVG
'PVJ(CMUFGT<GKVUEJTKHV'N'WTQRGQ¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸¸¸+5$0¸¸¸¸
5EJNCIY¨TVGT'N'WTQRGQ<GKVUEJTKHV$CTEGNQPC 59&¸+&)GUEJKEJVG
5EJNCIY¨TVGT5RCPKGP59&¸+&.KVGTCTKUEJG<GKVUEJTKHV59&¸+&^\^)GUEJKEJVG¸
¸3¸¸$8$
5CEJITWRRGP5RCPKGP2QTVWICN)GUEJKEJVG 2TGUUGYGUGP5RCPKUEJG.KVGTCVWT
#
5V2KGTTG$GTPCTF4
.CHKIWTCFGNUQNFCFQGPNCUPQXGNCURKECTGUECUGZRC¼PQNCUFGN5KINQFG1TQD[$GTPCTF45V2KGTTG¸1VVCYC
0CVKQPCN.KDTCT[QH%CPCFC¸KZ=KG?NGCXGUKNN
%CPCFKCPVJGUGUQPOKETQHKEJG
#DUVTCEVUKP5RCPKUJCPF'PINKUJ¸.GCHCKPUGTVGF¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGUNGCXGUC¸¸
7PKXGTUKV[QH#NDGTVC&KUU
5EJNCIY¨TVGT5RCPKUEJ59&¸+&5EJGNOGPTQOCP59&¸+&5KINQFGQTQ59&¸+&
5QNFCV/QVKX 59&¸+&*QEJUEJWNUEJTKHV/KMTQHQTO
5CEJITWRRGP5RCPKUEJG.KVGTCVWT.KVGTCTKUEJG5VQHHGNKVGTCTKUEJG/QVKXGNKVGTCTKUEJG6JGOGP
'RKM2TQUC
()
5VWFKGUKPJQPQTQH.CPKP#)[WTMQGFKVGFD[-GP*CNNCPF4WVJ/WPQ\¸*LGNO¸0GYCTM&GNCYCTG,WCPFGNC
%WGUVCE¸RKNNEO
*QOGPCLGU
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&*KURCPQCOGTKMCPKUEJ59&¸+&.KVGTCVWT59&¸+&
#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG5RTCEJGWPF.KVGTCVWT.KVGTCVWTMTKVKM
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
6CXCTGU,QUºG(GTPCPFQ
1TGHNGZQFG&GWUPCRQGUKCFG#PVºQPKQ1NKXGKTC%TW\GPUCKQGKPVGTRTGVCÆE¼CQFQUKIPKHKECFQGKFºGVKEQGUKODºQNKEQFG
%CPVCTGUFG#OKIQ+G++.KTCOKPJCNKTCG%»CPVKEQFQUE»CPVKEQU,QUºG(GTPCPFQ6CXCTGU¸.KUDQC+PUVKVWVQ2KCIGV
¸5EO
6GQTKCFCU#TVGUG.KVGTCVWTC
#1NKXGKTC%TW\¸¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸
5EJNCIY¨TVGT%TW\#PVºQPKQ1NKXGKTC59&¸+&.[TKM59&¸+&
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
#
'NVGCVTQUGIºWP%GTXCPVGUFKTGEEKºQP#PVQPKQ4G[*C\CUUGNGEEKºQPFQEWOGPVCN;QNCPFC/CPEGTQGFKEKºQP/CT
<WDKGVC¸GF¸/CFTKF%QORC¼PKC0CEKQPCNFG6GCVTQ%NºCUKEQ¸RKNNUQOGEQNEO
%WCFGTPQUFGVGCVTQENºCUKEQ
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
5EJNCIY¨TVGT%GTXCPVGU5CCXGFTC/KIWGNFG59&¸+&8GIC%CTRKQ.QRG(ºGNKZFG59&¸+&
&TCOC59&¸+&5RCPKGP59&¸+&6JGCVGT59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT6JGCVGTIGUEJKEJVG
#
6GKZGKTC/CFCNGPC6GNNGU&KCU
#GPVTCFCFGGUVTCPIGKTKUOQUPCNºKPIWCRQTVWIWGUC/CFCNGPC6GNNGU&KCU6GKZGKTC¸%JCOWUEC%QUOQU¸
5ITCRJ&CTUVEO
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸
5EJNCIY¨TVGT2QTVWIKGUKUEJ59&¸+&(TGOFYQTV59&¸+&5RTCEJIGDTCWEJ59&¸+&
5Q\KQNKPIWKUVKM59&¸+&
5CEJITWRRGP2QTVWIKGUKUEJG5RTCEJG.GZKMQNQIKG
#
6GNGU/CPWGN6CXCTGU
%COKNQG#PC2NºCEKFQGRKUºQFKQUKIPQTCFQUFCEºGNGDTGRCKZ¼CQTQO»CPVKEC/CPWGN6CXCTGU6GNGU¸2QTVQ%CKZQVKO
¸5-VEO
4GNCVKQPUJKRDGVYGGP%COKNQ%CUVGNQ$TCPEQ¸CPFJKUYKHG#PC#WIWUVC2NºCEKFQ¸YTKVGT¸
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸
5EJNCIY¨TVGT%CUVGNQ$TCPEQ%COKNQ59&¸+&2NºCEKFQ#PC#WIWUVC59&¸+&
5CEJITWRRGP2QTVWIKGUKUEJG.KVGTCVWT
#
6QTTGU,QTFK2GTG#PVQPK
&GN
KFGCNKUOGCN
QDNKVRQGUKCKVGCVTGFG2GTG#PVQPK6QTTGU,QTFK,QUGR/8CNN¹GUK/CTVºK=EQORKNCFQT?¸GF¸
8CNNU%QUUGV¹CPKC'FKEKQPU¸REO
%QNNGEEKºQ2GTHKNU
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGUR¸
+5$0¸¸¸¸
5EJNCIY¨TVGT6QTTGU,QTFK2GTG#PVQPK59&¸+&
5CEJITWRRGP-CVCNCPKUEJG5RTCEJGWPF.KVGTCVWT
#
6TCFKVKQPCPFOQFGTPKV[%GTXCPVGU
URTGUGPEGKP5RCPKUJEQPVGORQTCT[NKVGTCVWTG+FQ[C2WKIGF¸1ZHQTF=WC?
2GVGT.CPI¸:85
*KURCPKEUVWFKGUEWNVWTGCPFKFGCU
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGUCPFKPFGZ
+5$0¸¸¸¸
5EJNCIY¨TVGT%GTXCPVGU5CCXGFTC/KIWGNFG59&¸+&4G\GRVKQP59&¸+&5RCPKUEJ
59&¸+&.KVGTCVWT59&¸+&#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
6TCFWEKTCNQUENºCUKEQU%QORC¼PºKC0CEKQPCNFG6GCVTQ%NºCUKEQ¸/CFTKF%QORC¼PºKC0CEKQPCNFG6GCVTQ%NºCUKEQ
¸RKNNEO
%WCFGTPQUFGVGCVTQENºCUKEQ
/KPKUVGTKQFG%WNVWTC+PUVKVWVQ0CEKQPCNFGNCU#TVGU'UEºGPKECU[FGNC/ºWUKEC¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
5EJNCIY¨TVGT5RCPKUEJ59&¸+&&TCOC59&¸+&5KINQFGQTQ59&¸+&
šDGTUGV\WPI59&¸+&#WHUCV\UCOONWPI
5CEJITWRRGP5RCPKUEJG.KVGTCVWT&TCOCVKM.KVGTCTKUEJGšDGTUGV\WPI
#
6UCNKMK)TCOOCVKMºK
.CUCPVQNQIºKCUFGNCRQGUºKCGURC¼PQNCTGEKGPVG)TCOOCVKMºK6UCNKMK¸)TCPCFC7PKXGTUKFCFFG)TCPCFC¸R
EO
/QPQITºCHKEC$KDNKQVGECFGJWOCPKFCFGU6GQTºKC[ETºKVKECNKVGTCTKCU
4GXVJGUKU
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&.[TKM59&¸+&#PVJQNQIKG59&¸+&
*QEJUEJWNUEJTKHV
5CEJITWRRGP5RCPKUEJG.KVGTCVWT.KVGTCVWTUQ\KQNQIKG
#
7VTGTC(GFGTKEQ
&GURWºGUFGVCPVQUFGUGPECPVQUXKFC[QDTCRQºGVKECUFGNQU2CPGTQ(GFGTKEQ7VTGTC¸GF¸/CFTKF*KLQUFG
/WNG[4WDKQ¸RKNNEO
#NUQEQPVRQGOUQH.GQRQNFQ/CTºKC2CPGTQ¸¸$QWPF¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸¸
5EJNCIY¨TVGT2CPGTQ.GQRQNFQ59&¸+&2CPGTQ.GQRQNFQ/CTºKC59&¸+&2CPGTQ,WCP
.WKU59&¸+&2CPGTQ/KEJK59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
8GP[,QCP
2GTWPCJKUV¹QTKCFKCV¹QRKECFGNCNNGPIWCECVCNCPC,QCP8GP[¸$CTEGNQPC2WDNKECEKQPUFGN
#DCFKCFG/QPVUGTTCV
¸REO
6GZVQUKGUVWFKUFGEWNVWTCECVCNCPC
6GZVKP%CVCNCP
+5$0¸¸¸¸
5EJNCIY¨TVGT-CVCNCPKUEJ59&¸+&#WHUCV\UCOONWPI
5CEJITWRRGP-CVCNCPKUEJG5RTCEJGWPF.KVGTCVWT*KUVQTKUEJG.KPIWKUVKM
#
8KNNCPWGXC&CTºKQ
+OºCIGPGUFGNCEKWFCFRQGUºKC[EKPGFG9JKVOCPC.QTEC&CTºKQ8KNNCPWGXC¸8CNNCFQNKF5GTXKXKQFGRWDNG
KPVGTECODKQGF7PKXGTUKFCFFG8CNNCFQNKF¸5+NNEO
'PUC[QUNKVGTCTKQU
$QWPF¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸¸
5EJNCIY¨TVGT#XCPVICTFG59&¸+&.[TKM59&¸+&(KNO59&¸+&
)TQ•UVCFV/QVKX 59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT.KVGTCVWTKP$G\KGJWPI\WCPFGTGP$GTGKEJGPXQP9KUUGPUEJCHVWPF
-WNVWT
#
8QTUKEJV5RCPKUEJWP\GPUKGTVG#WUICDG5RCPKUEJYKGGUYKTMNKEJIGURTQEJGPYKTF=JTUIXQPFGT8QTUKEJV¸4GF
1TKI¸6GZV+UCDGN/GPFQ\C+NN-[NG9GDUVGT?¸/©PEJGP8QTUKEJV¸8GTN¸5+NNEO¸4GF
1TKI¸6GZV+UCDGN/GPFQ\C+NN-[NG9GDUVGT?
6GZVFVWPFURCP
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&7OICPIUURTCEJG59&¸+&5RTCEJH©JTGT
5CEJITWRRGP5RTCEJFKFCMVKM5RCPKUEJG5RTCEJG
#
5RTCEJGWPF.KVGTCVWT$-¸5GMWPF§TNKVGTCVWT
9QOGPKPVJG5RCPKUJPQXGNVQFC[GUUC[UQPVJGTGHNGEVKQPQHUGNHKPVJGYQTMUQHVJTGGIGPGTCVKQPUGFD[-[TC#
-KGVT[UCPF/QPVUGTTCV.KPCTGU¸,GHHGTUQP0%=WC?/E(CTNCPF%QORCP[¸8+++5
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGUCPFKPFGZ
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&(TCWGPTQOCP59&¸+&+FGPVKV§V/QVKX 59&¸+&
#WHUCV\UCOONWPI59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT.KVGTCTKUEJG5VQHHGNKVGTCTKUEJG/QVKXGNKVGTCTKUEJG6JGOGP
'RKM2TQUC
#
<CHTC'PTKSWGVC
2TQUVKVWKFCURQTGNVGZVQFKUEWTUQRTQUVKDWNCTKQGPNCRKECTGUECHGOGPKPC'PTKSWGVC<CHTC¸9GUV.CHC[GVVG+0
2WTFWG7PKXGTUKV[E¸XKREO
2WTFWGUVWFKGUKP4QOCPEGNKVGTCVWTGU
+PENWFGUDKDNKQITCRJKECNTGHGTGPEGUR¸CPFKPFGZ
+5$0¸¸¸¸
5EJNCIY¨TVGT5RCPKUEJ59&¸+&.KVGTCVWT59&¸+&5KINQFGQTQ59&¸+&
2TQUVKVWKGTVG/QVKX 59&¸+&5EJGNOKP59&¸+&
5CEJITWRRGP5RCPKUEJG.KVGTCVWT
#
<WECN5KNXCPQ
/CTºKC<CODTCPQKNFQPQFGNNCRCTQNC5KNXCPQ<WECN2QUVHC\KQPGFK#PPCTQUC$WVVCTGNNK¸/KNCPQ/QPFCFQTK
¸5EO
%CORWU
/<CODTCPQ¸¸5<WECNVGCEJGUCVVJG7PKXGTUKV[QH6TGPVQ¸+PENWFGUDKDNKQITCRJKECNTGHGTGPEGU
+5$0¸¸¸¸
5EJNCIY¨TVGT<CODTCPQ/CTºKC59&¸+&5RTCEJRJKNQUQRJKG59&¸+&
5CEJITWRRGP0GWGYGUVNKEJG2JKNQUQRJKG5RCPKUEJG.KVGTCVWT
#