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%HMZMREGMRHIP

(MPSKYR

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1VRHRPKRWMKRMJMGEHMIGMWMWIR=SVYFE7IVIJMIVIEPSWHMIGMWMWGEVEGSPIWUYIWSR
YWEHSW TEVE VITVIWIRXEV PSW  3HYW JYRHEQIRXEPIW YXMPM^EHSW IR PE EHMZMREGMR IR
3VMWE 3HY WI VIJMIVI EP TVMRGMTMS QIXEJWMGS UYI IW PE JYRHEGMR HI PE 'VIEGMR 0SW
3HYW YWEHSWIR1VRHRPKR WSR PEW JSVQEW TVMRGMTEPIW E TEVXMV HI PSW GYEPIW WI
HIVMZEIPGYIVTSIRXIVSHI-JE'EHESHYXMIRIYRRQIVSHIZIVWSWPPEQEHSIWI
0SWGEVEGSPIWYWEHSWTEVEPEEHMZMREGMRWSRPPEQEHSW3[SIVSUYIWSRHMJIVIRXIWEPSW
GEVEGSPIWUYIIREPKRQSQIRXSJYIVSRYWEHSWGSQSHMRIVSPSWGYEPIWWIPPEQER3[S
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GEVEGSPIWWIPPEQEEXI
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PPEQEHEWMKFS
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YREWIKYRHEZI^TEVEHIXIVQMREVPESVMIRXEGMRHIHMGLS3HY0EWIPIGGMRHIPEQERS
HIVIGLEIWMRHMGEHEWMPEWIKYRHEPER^EHEIW)NM3KFI3JYR-VSWYR3KMYRHE)NM3OS
3OERVER S )NMPE 7IFSVE )WXSW WSR PSW 3HYW QE]SVIW IR PE PMWXE ERXIVMSV 7M WEPI
3[SRVMR3WE3HM3FEVEY3WIIRPEWIKYRHEPER^EHEWIVIUYMIVIYREXIVGIVE7M  IP
XIVGIV3HYIW3[SRVMR3WE3HM3FEVEY3WIWIWIPIGGMSREPEQERSHIVIGLE7MIRIWI
XIVGIV 3HY WEPI )NM 3KFI 3JYR -VSWYR 3KYRHE )NM 3OS 3OERVER S )NMPE 7IFSVE PE
QERSM^UYMIVHEIWWIPIGGMSREHE7MWEPI-OE3XYVYTSR3JYR/ERVER-VIXIY3TMVEIRPE
WIKYRHEPER^EHEIPEWYRXSHIPESVMIRXEGMRIWXIRFEPERGI]RSTYIHIWIVHIXIVQMREHS

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MFM WYKMIVI UYI PE FYIRE JSVXYRE TYIHI SGYVVMV WM IP XVEFENS IWTMVMXYEP EHIGYEHS IW
VIEPM^EHS
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GSRWYPXER IP 1VRHRPKR XMIRIR YRE GSPIGGMR HI MQTPIQIRXSW UYI WI PIW HE E PE
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QERS GSRXMIRI GYEP MQTPIQIRXS )P MKFS TEVE IP MVI YWYEPQIRXI IW YR GEVEGSP ] IR
EPKYREW VIKMSRIW WI YWER HSW S QEW GEVEGSPIW EQEVVEHSW )P MKFS TEVE IP MFM IW
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XSQEVIPMKFSHIPMVI]XSGEVGSRPGEHEYRSHIPSWGS[VMIWUYIIWXRFSGEEVVMFEIRPE
IWXIVE 1MIRXVEWWILEGI IWXSIP EHMZMRSMRZSGEV EP3HY UYILE WMHS PER^EHSWIKYMHS
TSV PE WMKYMIRI JVEWI JYR MVI XS 4SV INIQTPS WM SGLS GS[VMIW IWXR FSGE EVVMFE IP
EHMZMRSHMV)NM3KFIJYRMVIXS)RPEQIHMHEUYIWIHMGIRIWXEWTEPEFVEWVIWTMVEVIR
IPMKFSUYIWIIWXYWERHSTEVEIPMVI0YIKSIPMKFSIWGSPSGEHSIRIPPEHSHIVIGLSHI
PE IWXIVE %LSVE IP EHMZMRS XSQE IP MKFS HIP MFM ] HMGI 3 XI S XS 1MIRXVEW PEW
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MRZSGEHS NYRXS GSR PEW TEPEFVEW 3 XI S )WXE JVEWI WMKRMJMGE WMQTPIQIRXI PE SXVE
TSWMFMPMHEH]WIHMGIHIIWXEQERIVETEVEUYIIPEHMZMRSRSMRZSUYIIPMFM)PMKFSTEVE
IP MFM WI XSGE GSR GEHE YRS HI PSW GS[VMIW UYI IWXR FSGE EFENS IR PE IWXIVE 0YIKS
EQFSW MKFSW WSR VIGSKMHSW IR PEW QERSW HIP EHMZMRS UYI RS PSW FEVENE HI RMRKYRE
QERIVE%QFSWMQTPIQIRXSWWSRWSPXEHSWIRPEWQERSWTYIWXSWIRJSVQEHIGSTEHIPE
TIVWSREUYILEZIRMHSEGSRWYPXEV
9RE ZI^ UYI PE SVMIRXEGMR LE WMHS HIXIVQMREHE IW TSWMFPI SFXIRIV YR MRWMKLX
GETEGMHEH QWTVSJYRHSHIRXVSHIPEREXYVEPI^EHIIWESVMIRXEGMREXVEZWHIWIKYMV
YWERHSHIPMKFS0EQE]SVEHIPSW3HYWIRIP1VRHRPKRXMIRIEPQIRSWYRZIVWS
UYILEFPEHIPEWFIRHMGMSRIWHIPEVKEZMHELMNSW]HMRIVS
'YERHS IP MI IW GSRJMVQEHS IW GSWXYQFVI TVIKYRXEVPI EP MKFS TEVE MHIRXMJMGEV PE
REXYVEPI^EHIHMGLSMVI)WXSWILEGIYXMPM^ERHSIPQMWQSWMWXIQEYWEHSTEVEHIXIVQMREV
PESVMIRXEGMRQMWQE)P%[SPITVIKYRXEVEPMKFSUYIGSRJMVQIMVIEMOY PEVKEZMHE 
MVIENI EFYRHERGME MVISOYRVMR IWTSWS MVISFMRVMR IWTSWE MVISQS LMNSW 'YERHS
PEVIWTYIWXETEVEXSHEWIWXEWTVIKYRXEWIWRSWIEWYQIUYIXSHEWIWXEWFIRHMGMSRIWIWXR
WMIRHSKEVERXM^EHEW
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2YIZEQIRXIIWXSWILEGIYWERHSIPQMWQSWMWXIQEYWEHSTEXEHIXIVQMREVPESVMIRXEGMR
QMWQE)P%[S TVIKYRXEV EPMKFSUYI GSRJMVQI MOY QYIVXI  EVYR IRJIVQIHEH SJS
TVHMHE MNE TIPIE ]SVER HIQERHE 
'EHE YREHI IWXEJSVQEWHI -VI I -FMWSR GSRWMHIVEHEW EWTIGXSW HI W ] XSHEWXMIRIR
YREJSVQEIWTMVMXYEPGSQSGEQMRSHIPTGEVSS8VEQTSWS 8VMGOWXIV })WXEIWYREHI
PEWVE^SRIWHIPTSVUYIE)WYWMIQTVIWIPIEPMQIRXETVMQIVSGYERHSWIVIEPM^EYR)FS

IWXS IW HIFMHS E UYI WYW IQMWEVMIHEHIW WSR PE GPEZI XERXS HI PE SVMIRXEGMR GSQS
GYERHSIWRIGIWEVMSHIPERIGIWMHEHHIPGEQFMSHISVMIRXEGMR
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8VMGOWXIV TYIHI WIV IRXIRHMHS GSQS IP )WTVMXY HI PE 4MGEVHE IP 8VEQTSWS IP )WTVMXY HI PE
.YKEVVIXEPE8VYLERIVESPE8VGEPE 2SXEHIPE8VEHYGXSVE 

)RJVMGEGYERHS)NM3KFIETEVIGIIRFERHINEEPKYRSWEHMZMRSWWMIQTVIMRXIVTVIXEVER
IWXI3HYIR-VI)WXERSIWYREVIKPEHYVE]VTMHETSVPSXERXSGEHEEHMZMRSRIGIWMXE
IWXEFPIGIV WY TVSTME VIPEGMR GSR )NM 3KFI FEWEHS IR WY TVSTME I\TIVMIRGME GSR PEW
QERIVEWHIQERMJIWXEGMRUYIIPQMWQSXMIRI
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WEGVMJMGMS  )WXS HITIRHI HI PE WIVMIHEH HIP EWYRXS HI PEW TEPEFVEW HIP 3HY ] HI PE
MRXYMGMRHIP%[S0EGSRJMVQEGMRTEVEIWXETVIKYRXETYIHIWIVIWXEFPIGMHEYWERHSIP
QMWQSTVSGIHMQMIRXSUYIHIXIVQMREIPMVI)RIWXIGEWSIPMKFSTEVEIPMVIWMKRMJMGEV
YREVIWTYIWXETSWMXMZEEPETVIKYRXE]IPMKFSTEVEIPMFMWIVYREVIWTYIWXERIKEXMZEEPE
TVIKYRXE
'YERHSETEVI^GER-OE3XYVYTSR3JYR/ERVERS-VIXIIRMFMHIWHI-OESXYVYTSR3JYR
/ERVERS-VIXIPEWYKIVIRGMEIWUYIPETIVWSREWIEPPIZEHEEPTMIHI-JE0ETVIKYRXEHI
WMWIHIFISRSGSRWYPXEV-JETYIHIWIVLIGLEHMVIGXEQIRXIEPSWGS[VMIWTEVEGSRWIKYMV
YRE GSRJMVQEGMR 0E VE^R TSV PE GYEP IWXSW 3HYW JVIGYIRXIQIRXI VIUYMIVIR HI PE
EXIRGMRHI-JEIWTSVUYIIPMFMEQIRYHSIWXEWSGMEHSGSREWYRXSWIPIQIRXEPIW]IW-JE
UYMIRXMIRIIPEWITEVEPMHMEVGSRIWXIEWYRXSHIJSVQEIJIGXMZE
'YERHSWEPI3TMVERSLE]SVMIRXEGMRLEWIVHIXIVQMREHE0ETIVWSREEPEUYIPIWEPI
3TMVEHIFIWIVPPIZEHEEPTMIHI-JETEVEHIXIVQMREVWMIP-OYUYIZMIRIHIIWXI3HYIW
TVISVHIREHSSWMI\MWXIEPKRIFSUYII\XIRHIVPEZMHEHIPETIVWSRE
-:)0)1)2837())&3
2SXSHSWPSW3HYWWSRGPEVSWWSFVIUYMIRVIGMFIPEWSJVIRHEW]WEGVMJMGMSWETYRXEHSWIR
IPIFS)WYRETVGXMGEKIRIVEPTVIKYRXEVPIEPSWGEVEGSPIWUYMREGITXEVPESJVIRHEIP
SVHIR HI PEW TVIKYRXEW IW IP WMKYMIRXI )WY )KYR 3FEXEPE SVM )FI 3KFE EFMOY 
VRQP3VMWESOS=IQS]EI-PI PPIVVE )RWMXYEGMSRIWIRUYIIP3HYIWQY]GPEVS
WSFVIUYMRIWIPSPEUYIIWXLEFPERHSIWXISVHIRTYIHIGEQFMEV 0SW )WTVMXYWUYI
LEFPERIRGEHE3HYWSRPSWWMKYMIRXIW
3OERVER 
)NM3OS 
3KYRHE 
-VSWYR

3WI

3FEVE

3HM 

)NM3KFI 
3WE

3JYR

3;SRVMR 
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3VER]ER %RGIWXVSWHI-P-J 
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3KYR=IQS]E
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7LERKS-J
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3XYVYTSR
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3TMVE


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3OMVMOMWLM-PI3KFSRM
3KYR
3PSJMR3FEXEPE
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)\MWXIRYREWIVMIHISVEGMSRIWUYIWSRYWEHEWTEVEEFVMVIP1VRHRPKRQYGLEWHI
IPPEW TSWIIR PE JPI\MFMPMHEH RIGIWEVME TEVE PE ZEVMEGMR TIVWSREP 0SW IPIQIRXSW
JYRHEQIRXEPIWWSRPSWWMKYMIRXIW
3TRMJYR3PVYR
+VEXMXYHEP7ISVHIP6IMRSHIPSW%RGIWXVSW
F3PHQEV3FENO1NPSR1S[S KYRQVMRE]
=S VIWTIXS EP 'VIEHSV IP 6I] EP UYI PI VI^EQSW TVMQIVS =S IWXS] EPIVXE LS] =S
GSRXIQTPSPEWGYEXVSIWUYMREWHIP1YRHS
F WIMP3VR
=SVIWTIXSIPTSHIVHIP)WXI
F WIM[3VR
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F WI%V[
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F WI+W
=SVIWTIXSIPTSHIVHIP7YV
F3FEKFEP]I
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F3VYRO
=SVIWTIXSIP6IMRS-RZMWMFPIHIPEW1SRXEEW
FE%XM[VYR
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F3POYRWSVSHE]
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FEEJJPKPKE[SWPE]
=SVIWTIXSIPTSHIVHIPZMIRXSIP1MWXIVMSHIP1YRHS1MWXIVMSWS
FEKK3FE
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IRPE2EXYVEPI^E
FWI PMWXEHI%RGIWXVSW 
=SVIWTIXS 0MWXEHI%RGIWXVSW]HIPSW%RGIWXVSWHIWYWQE]SVIW 
F3VM
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FTSRVRXMS[E - VYR
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FW RSQFVIIPGEQMRS OYRVMRSVMXEVOXEWISJMMHVIPP
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)RGVYGMNEHEWHIWHIPE'SPMREHIPEGVIEGMRRSWSXVSWYWEVIQSWXYIWTEHETEVEXSGEVPE
8MIVVE

FWWSHIQEXE
=SVIWTIXSEP)WTVMXYHIP6EWXVIEHSV7ISVHIP1MWXIVMSHIPE1IHMGMRE1SXIEHE
FKRE[S3RPIORKYORKYVYR
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6IMRSHIPSW%RGIWXVSW
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TEVXIHIWYEPXEVTIVWSREP 
F3FXPVWWV-KF3RMOXOXE[SS[V-OMO3FETXTXXM
[SRKF SHVERN
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7ISVHIPSW1MWXIVMSW%RXMKYSWHIPE8IPE&PERGEIP)WTVMXYUYIIWEPEFEHSIRIPHE
WEKVEHSHIP&SWUYI+YEVHMR HI EUYIPPSW GSR MRGETEGMHEHIW JWMGEW 6I] HI XSHEW PEW
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F=IQS]E3PKFVIVI
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F3WYRSPSVM]EMKREV[ESFMVMR
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FPYOWEMVEFQFSQSEVMKFTEWIKR
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FNEPM]]PVYR3]E3P[IOY
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IP)WTVMXYHIP:MIRXSIWIPKYEEPSWQIHMYQWHIPSW%RGIWXVSW
FFINISV
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)PWMKYMIRXIWIKQIRXSIWMRGPYMHSGSQSPETSVGMRHIGMIVVIHIPEMRZSGEGMR 
/MOERQEWI PMWXEHIQE]SVIW 
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F3NYFSRQJ
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5YIEWWIE
3/%26%2
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3OMRVMROEVERMRMOYIRMGSRWYPXTEVEIPLMNSHI3FEPYJSRIPUYIGSQMKYMWEHS
WMR GSRHMQIRXEV TSV WMIXI HEW IP HE UYI IP UYIVE XIRIV LMNSW 3VMWE EGSRWIN E
3FEPYJYREUYILMGMIVEIFS)PIFSJYILIGLS]3FEPSJYRVIGMZMYERFIRHMGMRHILMNSW
IWXIZIVWSIWTEVEYRLSQFVIUYIUYMIVELMNSW PGERXIREPEFER^EE3VMWLE
%XYOERIVSOSMTIOSMNMRRESVMQMR NIFYXYSQS
2SWSXVSWETEGMKYEQSWEPSW)WTVMXYWRSWIVXEVHEVQYGLSRSIWXPINSWUYIZIEWYRE
EFYRHERGMEHILMNSW

)FSFEFSWEWGEYVMWRYI^HIGSPEYREKEPPMRE TEVEIPWIXHIEHMZMREGMR 
4VITEVEVYRKYMWEHSWMRGSRHMQIRXEVGSRMKIHI SVEGMRTEVEPEJIVXMPMHEH UYIHIFIWIV
GSQMHETSVHEW

3OERVERYRSYRSYRSGSRWYPXTEVEPE +EPPMRE+YMRIEIPHEIRUYI IPPEFYWGEFE
EKYE TSVUYI IWXEFE JEPXE HI LMNSW 3VMWLE PI EGSRWIN E PE +EPPMRE +YMRIE UYI LMGMIVE
IFS)PIFSJYILIGLS0SWLMNSWHIPE+EPPMRE+YMRIEJYIVSRMRGSRXEFPIW )WXIZIVWSIW
TEVEYREQYNIVUYIHIWIEXIRIVLMNSW 0E+EPPMRE+YMRIEGERXIREPEFER^EE3VMWLE
%XYOERIVYOSMTIOSMNMRRESVMQMR NIFYXYSQS3VMWE[MTIMVISQSP SRJSWIS

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FIRHMGMRHILMNSW
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EHMZMREGMR )[S+EPPMRE+YMRIE

9REQERSRSTYIHIPIZERXEVYREZEWMNEWSFVIPEGEFI^EYRTMIRSIWX
WIKYVSWSFVIYRTYIRXIGSRWYPXTEVEIPTYIFPSHI-KFSLS1SVSIPHEUYIWYFYIRE
JSVXYREWI JYI ZSPERHS GSQS TNEVSW 3VMWLE EGSRWINE PE KIRXIHI -KFSLS 1SVSUYI
LMGMIVERIFSTEVEUYIEWPEFYIREJSVXYREWIUYIHEWIIRGEWE)PIFSJYILIGLSPEKIRXI
HI -KFSLS 1SVS JYIVSR GETEGIW HI EJIVVEVWI E WY FYIRE JSVXYRE )PPSW GERXEVSR IR
EPEFER^EE3VMWLE
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ELSVS KFEPI [E W E[S EQS XMS WM PS RFS EPI 8IXMTSRSPE RFS E ELSVS KFEPI [E
W E[S
2SWSXVSW ETEGMKYEQSW E PSW )WTVMXYW :MRMIRHS E PEW VYMREW HIP LYIVXS E EHMZMREV )P
UYMIRWIJYIPINSWVIXSVREEGEWE&VERGE9VWMRE RSQFVIHIPE,MIVFE ZMRMIRHSHIPEW
VYMREW HIP LYIVXS E EHMZMREV )P LMNS UYI WI JYI PINSW VIKVIWE E GEWE &VERGE 9VWMRE
ZMRMIRHSHIPEWVYMREWHIPLYIVXSEEHMZMREV
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TEPSQE YRE VEXE ] EGIMXI HI GSVSNS 6STE FPERGE ] FEFSWEW TEVE 3FXP KEPPMRE
TEPSQEVEXE]GSVSNSTEVEW 

0E  TPERXE SHYRHYR  XSGE  IP  TMWS  XMIRI HSWGMIRXEW  LSNEW  PE  TPERXE 
TIVIKYR XSGE  IP  TMWS XMIRI HSWGMIRXEW  ZEMREW  HI IWTEHE  TEVE  3VMWLE
GSRWYPXTEVEIPTYIFPSHI-KFSLS1SVSIPHEIRUYIIPPSWRSXIRERPYKEVTEVELEGIV
IFS6SMWLEEGSRWINEPEKIRXIHI-KFSLS1SVSLEGIVIFSTEVEUYIEWXYZMIVEYRPYKEV
TEVE EHSVEV E 3VMWLE )P IFS JYI LIGLS PE KIRXI HI -KFSLS 1SVS XYZS YR PYKEV TEVE
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EPEFER^EE3VMWLE
%XYOER IVY OS M TI OS M NMRRE IVM [E R NIFYXY VI -[SVS 3VMWE I OE V SNY FS
SKFSRHI-[SVS3VMWEIOEV SNY FSSVSXS
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EFYRHERGMEHIFIRHMGMSRIW-[SVS3VMWLEZIIPPYKEVHIEHSVEGMRFMIRIWXEVZIRHV

)FSGEYVMWYRETEPSQEFEFSWEW]RYI^HIGSPE TEVEW 
46)(-''-32)7
3OERVERHMGIUYIIWXTIVWSREIWXTIPIERHSTSVYRELIVIRGME)PIFSHIFIVEWIVLIGLS
TEVEUYIEWIWXETIVWSRERSWYJVEHIIRJIVQIHEHIWZIVKIR^EVEFME]LSWXMPMHEH)FS
EW)WXETIVWSREHIFIYWEVGYIRXEWWIKM GYIRXEWE^YPIW TEVEWYTVSXIGGMR
3OERVERHMGIUYIIWXETIVWSREHIFIHINEVHISVEVTSVIPLSRSV]IQTI^EVESVEVTSVPSW
LMNSW
3OERVERHMGIUYIIWXETIVWSREHIFIGSPSGEVYREPXEVIRWYGEWE
46-2'-4-371)8%*7-'37
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RYIWXVETVSTMEGSRGMIRGME%XVEZWHIIWXITVSGIWSTSHIQSWWIVMRWTMVEHSWEIRGSRXVEV
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3&%6%
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(IFIQSW  GSRWXVYMV  TSV  EHIPERXEHS  YR  HITWMXS  TEVE  IP  HMRIVS 
HIFIQSWLEGIVTSVEHIPERXEHSYRTSVGLITEVEPEWVMUYI^EWHIFIQSW
GSQTVEVTSVEHIPERXEHSVSTERYIZETEVEPSWRMSWUYIZIRHVRIR
PSWTV\MQSWESWGSRWYPXTEVE 3FEVEIPHEIRUYIPIHMNIVSRUYIPEEFYRHERGME
IWXEFETSVZIRMV3VMWLEEGSRWINUYIGYERHSZIEQSWEWIMWERGMERSWIRHSWSGEWMSRIW
IWUYIZMIRIPEFYIREJSVXYREHI3FEVE )RIWXIZIVWSPEEFYRHERGMEIWXKEVERXM^EHEWM
IPMVIIWGSRJMVQEHSIR3FEVE 
)FS  GEYVMW TSPPS TEPSQE ] VSTE RIKVE TEVE 7LERKS  )I[S LEGIV
TVITEVEGMSRIWTEVEPEFYIREJSVXYREUYIIWXTSVZIRMV

3VMWLEHMGIFIRHMGMSRIWHIEFYRHERGME]PEVKEZMHEEEUYIPPSWUYIIWXRHMWTYIWXSWE
PPIZEVEKYETEVE3PSOYR3VMWLEHMGIUYIIWXETIVWSREHIFIXSQEVEKYEHIPVS]PPIZEVPE
EPSGERS )WXIZIVWSWYKMIVIUYIIWXETIVWSREHIFIZIRIVEVE3PSOYR]IZIRXYEPQIRXI
GSPSGEVE3PSOYRIRPEZEWMNEUYIWISJVIGIGSQSIFS 3VMOMMVI
8X KYRPTSR QMSPPTSR QMEN
8X KYRPTSR QMSPPTSR QMSQS
8X KYRPTSR QMSPPTSR QMVIKFSKFS
0MP]PPIZIPEKYEHIPEEFYRHERGME0MP]PPIZIPEKYEHIPHMRIVS
0MP]PPIZIPEKYEHIPSWRMSW0MP]PPIZIPEKYE
HIPEEFYRHERGME0MP]PPIZIPEKYEHIXSHEWPEWFIRHMGMSRIW

%UYIPUYIIRXMIRHIE-JERSGSRSGIIPGEQMRSE3JEEUYIPUYI
GSRSGIIPGEQMRSE3JERSGSRSGIE-JEGSRWYPXTEVEIPNIJIHI3JE1ENS
IPHEIRUYIWIPIHMNSUYIPIWXEFEETYRXSHIWIVXVEMGMSREHSTSVYREQMKS)PJINIHI
3JE1ENS[EWHMNSUYITVSRXSIPWIVEGETE^HITEKEVWYWHIYHEW3VMWLEEGSRWINEPNIJI
HI3JE1ENSUYILMGMIVEIFSTEVEWSFVIPPIZEVPSWQEPSWGSRWINSW)PIFSJYILIGLSIP
NIJIHI3JE1ENS
IRGSRXV WY GEQMRS )WXI SHY WYKMIVI UYI IWXE TIVWSRE TYHS LEGIV VIGMFMHS YR QEP
GSRWINSHIEPKREHMZMRSIRIPTEWEHS 
)FS  GEYVMW  RYIGIW HI GSPE TEPSQE ] KEPPMREW SJVIGMHSW E  GEQMRSW UYI
IRXVIREPTYIFPS TEVE3KYR 


3VMWLE HMGI UYI IWXE TIVWSRE XIRHV YRE FIRHMGMR HI EFYRHERGME WM WI LEGI IFS TEVE
3WER]MR)FSGEYVMWEPEHIVIGLEGEYVMWEPEM^UYMIVHETSPPSRIKVS
TEPSQE RIKVE ]  LSNEW )WXI IFS IW TEVE EUYIPPSW UYI WYJVIR HI IRJIVQIHEHIW
JWMGEW 

3VMWLEHMGIUYIWMIWXETIVWSREUYMIVIIWXEFPIGIVYREVIPEGMR]XIRIVLMNSWHIFILEGIV
IFS)PIFSHIFILEGIVWIIRRSQFVIHIPEVIPEGMR]HIPSWLMNSWJYXYVSWTEVEGVIEVYRE
TVSXIGGMR IR GSRXVE HI %FMOY)FSGEYVMW TSPPS RIKVS ] YRTIHE^S HIXIPE
RIKVE TEVE7LERKS 

3VMWLE HMGI UYI IWXE TIVWSRE XIRHV FIRHMGMSRIW HI EFYRHERGME WM PI PPIZE EHMQY E
3FEXEPE )WXE TIVWSRE HIFI GSPSGEV YRE WSTIVE FSGE EFENS IR WY GYEVXS TEVE
GSRXVEVVIWXEVPERIKEXMZMHEH3FEVEHMGIUYIPERIKEXMZMHEHWIQERXIRHVIR3VYR

3VMWLEHMGIUYIWMIWXETIVWSREHIWIEYRLMNSHIFIJVSXEV3WYRIRPEWTEVIHIWGIVGEHIWY
GEQE3VMWLEHMGIUYILEFVFIRHMGMSRIWHILMNSW)FSGEYVMWVEXETEPSQE
]3WYR
46)(-''-32)7
3VMWLEHMGIUYIIWXETIVWSREWSFVITEWEVEWYWIRIQMKSW7MPETIVWSREWIZIIRZYIPXE
IRYRGSRJPMGXSI\XVIQSHIFIEGYHMVE-JEIRFYWGEHITVSXIGGMR
3VMWLEHMGIUYIIWXETIVWSRERSHIFIEGXYEVGSRHSWGSVE^SRIW
3VMWLEHMGIUYIIWXETIVWSREHIFIXIRIVYRGSVE^RGEPQEHS
)WXSWYKMIVIUYIPETIVWSRERIGIWMXEXIRIVYRQINSVWYISQWHIWGERWS]XSQEVYREW
ZEGEGMSRIW 
3VMWLE HMGI UYI IWXE TIVWSRE RS HIFI IWXEV ETYVEHE TEVE GSRWIKYMV VMUYI^EW 0E
EFYRHERGMEZMIRIGSRPETEGMIRGME]GSRYRGSVE^RGEPQEHS 0ETIVWSREHIFIVIGMFMV
GYIRXEW HI )NMKFE TEVE UYI TYIHE HIWEVVSPPEVPE TEGMIRGME'YERHSWI PI IRXVIKYIRPEW
GYIRXEWWIHIFITVIWIRXEVYR%HMQYHIEQIW]EY]EQEE3VMWLE
3VMWLEHMGIUYIPEGEFI^EHIIWXETIVWSREPELEVVMGE7YGEFI^ERIGIWMXEWIVPMQTMEHE
3VMWLEHMGIUYIIWXETIVWSREXMIRIYRXEFYIRGSRXVEHIGSQIVGEVRIWVSNEWIRI\GIWS
3VMWLE HMGI UYI IWXE TIVWSRE HIFI LEGIV YRE SJVIRHE E -JE TEVE IZMXEV IRJIVQIHEHIW
KVEZIW]HIXIRIVPEEYXSHIGITGMR0ESJVIRHEHIFIMRGPYMVYREGSQMHETEVEWYWEQMKSW
]WYWQE]SVIW
3VMWLEHMGIUYIIWXETIVWSREHIFIVIWTIXEVPSWGEQMRSWHI-JE
3VMWLEHMGIUYIIWXETIVWSREHIFIZEPSVEVPSUYI]EXMIRI
3VMWLE HMGI UYI IP XVEFENS UYI IWXE TIVWSRE LE IWXEHS LEGMIRHS WMR SFXIRIV KERERGMEW
WIVVIRXEFPI]SFXIRHVKERERGMEW

3VMWLEHMGIUYIPEVIPEGMRMRZSPYGVEVEEPKYMIRHIPTEWEHS
3VMWLEHMGIUYIFIRHMGMSRIWHILSKEV]HIJEQMPMEZMIRIRIRGEQMRS
46-2'-4-371)8%*7-'37
-JE IRWIE UYI PE MPYQMREGMR IW XVERWMXSVME (IWTYW HI GEHE HIWGYFVMQMIRXS LE] YR
TIVSHS HI HIWGERWS ] UYMIXYH IR ERXMGMTEGMR E PSW GEQFMSW UYI IWXR HIWXMREHSW E
QERMJIWXEVWI)WIPHIWGERWSUYIWYGIHIHIWTYWHIYREPYGLEPEVKE]IWPEUYMIXYHUYI
SGYVVIQMIRXVEWWIGSRXIQTPEIPTV\MQSQSZMQMIRXS8VEWGIRHIVEPIKS]IRJVIRXEVPEW
PIGGMSRIW TVSJYRHEW UYI ETEVIGIR IR PE FWUYIHE HIP ]S ZIVHEHIVS XVEI GSRWMKS PE
TVSQIWEHIEFYRHERGME]PEVKEZMHE-JEIRWIEUYIPE8MIVVETVSZIIHIPEEFYRHERGME
RIGIWEVMETEVEPEWSFVIZMZIRGME]PEPEVKEZMHE%WGSQSIRSGERSTVSZIITEVEXSHSW
EUYIPPSWUYIZMZIRIR7YWEKYEWPE8MIVVETVSZIIPSWQEXIVMEPIWIRFVYXSTEVEGSQMHE
VIJYKMS ] PE GVIEGMR HI PE GYPXYVE 0E GPEZI TEVE EGGIHIV E IWXSW VIGYVWSW IW ZMZMV IR
EVQSRE GSR PE 2EXYVEPI^E IR ZI^ HI XVEXEV HI MQTSRIV PE ZSPYRXEH TIVWSREP IR PE
HMWXVMFYGMRHIPEWVMUYI^EW2EXYVEPIW
)REPKYRSWQSQIRXSWPEMPYQMREGMRTYIHIXVEIVHIGITGMR]YRJEPWSWIRXMHSHIPSKVS
4EVEIZMXEVIWXEXVEQTEHIFILEFIVQSQIRXSWTIVMHMGSWHIGSRXIQTPEGMR]VIXMVEHE
(IFI I\MWXMV YR QSQIRXS TEVE VIGSRSGIV PSW PSKVSW ] GSRWMHIVEV PEW JYXYVEW
MQTPMGEGMSRIW HI IWS UYI LIQSW PSKVEHS % TIWEV HI UYI IWXI 3HY WYKMIVI PE
GSRXIQTPEGMR XEQFMR EHZMIVXI IR GSRXVE HI PE GSQTPEGIRGME )P TIPMKVS EG IW IP
VMIWKSHIGSRJYRHMVPEEQFMGMRTIVWSREPGSRPSWMQTIVEXMZSWIWTMVMXYEPIW)RPEQIHMHE
IR UYI YRE TIVWSRE HSQMRE YRE LEFMPMHEH TEVXMGYPEV WI GSRZMIVXIR GEHE ZI^ QW
MRWXMRXMZEW IR WYW HIGMWMSRIW TIVWSREPIW ] QIRSW MRZSPYGVEHEW GSR IP HIWSVHIR ] PSW
GSRJPMGXSWMRXIVRSW)WXSTSHVETEVIGIVYRETVHMHEHIZSPYRXEHTIVWSREPTIVSIWQW
FMIR YRE EPMRIEGMR IRXVI PE ZSPYRXEH TIVWSREP ] PE ZSPYRXEH IWTMVMXYEP UYI GVIE YRE
QE]SVWIRWEGMRHIVIEPM^EGMRUYIPEHIPEEQFMGMRTIVWSREP
)PJSPOPSVIIR3FEVELEFPEHIPEQERSHIVIGLEUYIPEZEPEQERSM^UYMIVHE]WIVIJMIVI
EPLIGLSHIUYIYRVFSPRSLEGIYRFSWUYI)WXSIWYREEHQSRMGMRTEVEPERIGIWMHEH
HI GSRWMHIVEV  PEW RIGIWMHEHIW GSQYRMXEVMEW PE NYWXMGME WSGMEP ] PE WSFVIZMZIRGME HI PE
JEQMPMEGSQSIPIQIRXSWHIPHIWXMRSTIVWSREP%UYIPPSWUYIWPSGSRWMHIVERWYWTVSTMEW
RIGIWMHEHIW TMIVHIR IP ETS]S HI EUYIPPSW UYI TYIHIR KYMEVPSW LEGME WY QW EPXS
HIWXMRS

3(-
'3;6-)7 
(IQEWMEHEFSRHEHIWTEKEHEGSRQEPHEHGSRWYPXTEVEIP4ETEKE]SIPHEIR
UYIPUYIVETSRIVPIJMREPEQEPHEH3VMWLEEGSRWINEP4ETEKE]SUYILMGMIVEIFS)P
IFS JYI LIGLS ] REHMI QW PEWXMQ EP 4ETEKE]S )WXE TIVWSRE TSHVE XIRIV YRE
XIRHIRGMEEGYPTEVEPEHMZMRSTSVPSWTVSFPIQEWHMWGYXMHSW 
)FSGEYVMWTEPSQEKEPPSTMIHVE TEVE7LERKS]3]E 

9REZEWMNEVSXEVIGMFIYREGYIVHEHILMIVVSYREWSTIVEVSXEVIGMFI
 YRE  GYIVHE  TEVE  WY GYIPPS GSRWYPX TEVE PE 1IHMHE IP HE IR UYI PE 1IHMHE
UYIVE WEFIV UY LEGIV TEVE XIRIV PEVKE ZMHE 3VMWLE EGSRWIN E PE 1IHMHE UYI LMGMIVE
IFS)PIFSJYILIGLS%PE1IHMHEWIPIHMNSUYIREHETSHVEWIVZIRHMHSIRIPQYRHS
WMRPEEWMWXIRGMEHIPE1IHMHE)PPEGERXIREPEFER^EE3VMWLE
WR[R QQ O S KFH WR[R QQS O S KFH HERHER WR[R
QQSOSKFHHERHERWR[RQQSOSKH

1IHMHE RS QYIVEW HI QERIVE UYI TYIHEW WIV TVIGMWE 1IHMHE RS QYIVEW HI
QERIVEUYITYIHEWWIVVIEPQIRXITVIGMWE \ 
)FS8VEIVWIQMPPEW]KVERSWIRGERXMHEHIWQIHMHEW TEVE3]E]=IQE]E 
3VMWLE HMGI UYI WI HIFI LEGIV WEGVMJMGMS TEVE IZMXEV PE PSGYVE IR YR RMS )P IFS JYI
LIGLS]LYFSEFYRHERGMEHIFIRHMGMSRIW
)FSGS[VMIWYREZEWMNE VSTE GSRVE]EW RIKVEW VSNEW ]FPERGEWYRGYGLMPPS ]
3WYR TEVE)WY 

-HMHIPHSPSVEHMZMRSHIPEGEFI^EHI3FEHI%VE GYIVTS -HMHHI
PE  EKSRE  EHMZMRS  HI  PE  GSPMRE  HI  -NIVS GSRWYPX TEVE IP JINI HI 3VS PE
TEPEFVE IPHEIRUYI3VSTYWSEWY-JIRYREVITMWE]ETEVXEWYW3VMWLEWIRYREZMKE
0EZMHEHI3VSIVETVSFPIQXMGEPEZMHEHI3VSIVEMRJIPM^5YWIHIFELEGIV#3VMWLE
EGSRWIN E 3VS UYI XVENIVE EHMQY TEVE IP )KYRKYR HI PE GEWE ] TEVE IP 3VMWLE HIP
QIVGEHS 3]E  )P EHMQY JYI TVIWIRXEHS -JE JYI GSPSGEHE IR WY EPXEV 3VMWLE JYI
GSPSGEHSIRWYEPXEV(IWHIIWIHEIREHIPERXI3VSJYITVWTIVS
3VMWLE HMGI UYI IWXE TIVWSRE RIGIWMXE HEVPI GSQMHE E 3KYR 7LERKS 3OS ] )KYR
%HMQYQE^WERGSGLEHSTYVHIEQI ]WIQMPPEWHIQIPRGSGMHEW3VMWLEHMGIUYI
IWXETIVWSREHIFILSRVEVPSW)WTVMXYWUYIJYIVSREHSVEHSWTSVWYWERGIWXVSW
46)(-''-32)7
3VMWLE HMGI UYI IWXE TIVWSRE XIRHV YRE FIRHMGMR HI EFYRHERGME YRE FIRHMGMR HI
PEVKE ZMHE]YREFIRHMGMRHILMNSWWMLEGIIFSTEVE-FINM]TEVE-JE
3VMWLEHMGIUYIIWXETIVWSREHIFISJVIGIVRYI^HIGSPEEPVFSPHIEOSOS WEKVEHSTEVE
%NI ] )KYR  WMIXI ZIGIW 0E GEFI^E HI IWXE TIVWSRE HIFI WIV PMQTMEHE PYIKS WI PIW
EGSRWINETVEGXMGEVIPTIVHR

3VMWLE HMGI UYI IWXE TIVWSRE WIV MRWYPXEHE ] UYI RS HIFI GSRWYQMVWI HI VEFME 7M PE
TIVWSREWIQERXMIRIGSRPEGEFI^EJVEZIRHVRFIRHMGMSRIW)WXETIVWSREHIFIZIWXMV
HIFPERGSGSQSTVSXIGGMRHIPSWMRWYPXSW
3VMWLE HMGI UYI IWXE TIVWSRE RS HIFI PEWXMQEVWI E W QMWQE JWMGEQIRXI S
IQSGMSREPQIRXI 
3VMWLE HMGI UYI IWXE TIVWSRE WI IRGYIRXVE IR HMWTYXE GSR YR EQMKS ] UYI IWE HMWTYXE
HIFIWIVEVVIKPEHEGEPQEHEQIRXI'YERHSPEHMWTYXEWIEEVVIKPEHEEQFEWTEVXIWHIFIR
GSQTEVXMVYREGSQMHENYRXSW
3VMWLEHMGIUYIIWXETIVWSREHYHEHIPEWFYIREWRSXMGMEWUYI3VMWLEPILEHMGLS
46-2'-4-371)8%*7-'37
3HMIWIPHIWGERWS]IPPSKVSUYIWYGIHIEPEERXMGMTEGMR)WGSRSGMHSGSQSIPd7IPPSe
)RXSHEWPEWJSVQEWHIGIVIQSRMEWHI-JE]3VMWLEIPGSRGITXSHIP7IPPSIWYRIPIQIRXS
VMXYEPIWIRGMEP7IPPEVEPKSIRYREGIVIQSRMEIWKEVERXM^EVUYIWIQERMJIWXEV9RWIPPS
IWGYEPUYMIVGSWEUYIWIGSRZMIVXIIRYRLIGLSMVVIZIVWMFPIGSQSIPREGMQMIRXSEPKYREW
JSVQEWHIVIZIPEGMRSPEIQIVKIRGMEHIRYIZEWIWTIGMIW0SWWIPPSWWSRYWEHSWHIYRE
QERIVE VMXYEPWXMGE TEVE HIJMRMV EUYIPPS UYI WI HIWIE ] TEVE FPSUYIEV EUYIPPS UYI IW
MRHIWIEHS%PJMREPHIYREMRZSGEGMRIPE[SI\LEPEVWSFVIPEIWXIVESWSFVIIPXEFPIVS
] HMGI PE TEPEFVE XS TVSRYRGMEHS HI QERIVE EPEVKEHE  )R =SVYFE PE TEPEFVE dXSe
WMKRMJMGEWYJMGMIRXIIWXXIVQMREHSSEWIWGSQS]SHMKSUYIHIFIWIV0ETEPEFVE
XS GPEVEQIRXI QEVGE IP JMREP HI YRE MRZSGEGMR HI IWXE QERIVE PEW SVEGMSRIW HMGLEW
HIWTYWRSEJIGXERIPTVSGIWSHIMRZSGEGMRHIPVMXYEP
'SQSTVMRGMTMSQIXEJWMGS3HMIWIP7IPPSHIJMREPM^EGMRIRPE2EXYVEPI^E4IVSIRPE
GSWQSKSREHI-JIPJMREPWMIQTVIQEVGEIPTVMRGMTMSHIYRERYIZEJEWIYRRYIZSGMGPS
HIREGMQMIRXSZMHEQYIVXI]VIREGMQMIRXS4SVINIQTPSPEJMREPM^EGMRHIPEMRJERGME
IW GIVIQSRMEPQIRXI WIPPEHE TSV IP VMXS HI PE TYFIVXEH )W YR VMXYEP UYI JMREPM^E PE
HITIRHIRGME UYI IP RMS XMIRI GSR PSW TEHVIW I MRXVSHYGI EP NSZIR EHYPXS E GSRJPMGXSW
EWSGMEHSWGSRIRGSRXVEVWYPYKEVIRIPQYRHS
'YERHSIPJYIKSUYIIWXIRIPGIRXVSHIPEXMIVVEEPGER^GMIVXSIWXEHSHIIRJVMEQMIRXS
TIVQMXMPEIQIVKIRGMEHISGERSWIRPEWYTIVJMGMIHIPEXMIVVE)R3HMIPREGMQMIRXSHI
PEWEKYEWSGIRMGEWWIPPEIPJMREPHIPHIWEVVSPPSHIPEXMIVVEGSQSYRTPERIXEWMRZMHE]
KIRIVEPEWGSRHMGMSRIWUYITIVQMXMIVSRIPWYVKMQMIRXSHIPEIZSPYGMR
)PJSPOPSVIHI3HMLEFPEHIPEWQYNIVIWIRIPQIVGEHSUYILEGIRYWSHIPEQMIPGSQS
YREQERIVEHIIRHYP^EVPEWGSWEWFYIREWIRPEZMHE)R-JE]3VMWLEPEQMIPIWSJVIRHEHE
EPSW)WTVMXYWGYERHSWIIWXTMHMIRHSEFYRHERGMEIVSXMWQSILMNSW
3HMXEQFMRLEFPEHIPTVMRGMTMSHIPEQEXIVRMHEH]PEWVIWTSRWEFMPMHEHIWEWSGMEHEWGSR
IPXVEIVYRLMNSEPQYRHS

).-3+&)
'3;6-)7 
9RE  GEFI^E  EJSVXYREHE  PPIZE  YRE  GSVSRE  HI GEYVMW  YR  GYIPPS 
EJSVXYREHSYWEYREWGYIRXEWHINEWTIGEHIVEWEJSVXYREHEWWIWMIRXER
IR  YR  XVSRS GSRWYPX TEVE 1M  'YIVTS  IWX  GQSHS UYMIR IVE PE IWTSWE HI
3VMWLE)PPEHMNSE3VMWLEWM]SYWSXYXVSRSXIWS]MRJMIP3VMWLE)PTVMQSKRMXSHIPE
GSPMRERSIWYREHIWKVEGMEEPSWSNSWHIPQEIWXVS
%WIW)NM3KFI
)FS EHMQY TEVE )KYR ] YR GSQTVSQMWS HI EGITXEV EPKYRE JSVQE HI HMWGMTPMRE
IWTMVMXYEP )WXIZIVWSWYKMIVIPETSWMFMPMHEHHIPEMRMGMEGMR 

4SGSETSGSPEFSEGSRWXVMGXSVWILEGIQWKVYIWETSGSETSGSPE
FEWYVE  EQSRXSREHE GVIGI  GSR  WY  GEVE  LEGME  PE  PEKYRE  IP  QMVE  E
3PSVYRIRPSEPXSGSRWYPXTEVEIPNIJIEPUYIWIPIHMSYREFIRHMGMRHIPEVKEZMHE
3VMWLEHMNSUYILMGMIVEIFSTEVEPEPEVKEZMHE
)FSPMQTMEVWIGSRWMIXIKVERSW]PYIKSIRXIVVEVPSWIRPEXMIVVE )WXIZIVWSWYKMIVIUYI
IWXETIVWSREIWXLEGMIRHSYRPIRXS]GSRXMRYEHSTVSKVIWSIRIPGEQMRSEPEEPMRIEGMR
TIVJIGXEIRXVIIP=S]IPQYRHS 

3XS[YXS[YXS[Y3VS[YVS[YVS[YYRSEdYRSGEQMREQSWIRIPFEVVS
YRSEYRSGEQMREQSWIRIPTSPZSGSRWYPXTEVEIPGIVHSIPHEIRUYIIPGIVHS
UYIVE LMNSW 3VMWLE HMNS UYI WM IWXE TIVWSRE UYMIVI LMNSW IP LEGIV IFS XVEIVE YRE
FIRHMGMRHILMNSW
)FSTEPSQEKEPPMRE
)[SGSGLMRS
0SWLSPKE^ERIWZMZIRTSVWYWEFMHYVEWPSPSWXSRXSWRSWEFIRGQS
VIWSPZIVWYWEWYRXSWGSRWYPXTEVE3VYRQMPE3VMWLEHMNSUYIHIMHEHIWMVER
GSR3VYRQMPEIPHEIRUYIPUYIVEMRMGMEVYREKVERNE3VMWLEEGSRWINE
3VYRQMPEUYILMGMIVEIFSTEVEUYIPEKVERNEJYIWII\MXSWE)PIFSJYILIGLS3VMWLEHMNS
UYI RS XEVHEVE XERXS UYI RS IWX PINSW XY ZIVEW E 3VMWLE IR YRE EFYRHERGME HI
FIRHMGMSRIW3VMWLEHMNSUYIYREFIRHMGMRHIHMRIVSZMIRI
)FSEQIWTEVE3FXP
46)(-''-32)7
)NM3KFIHMGIUYIPEQYIVXIRSVIGSRSGIVEIWXETIVWSREPEIRJIVQIHEHWISPZMHEVHI
EJPMKMVEIWXETIVWSREPETVHMHERSIRGSRXVEVEIWXETIVWSREPEWSPIHEHLYMVHIIWXE
TIVWSRE PE TSFVI^E PI TEWEV E IWXE TIVWSRE TSV YR PEHS PS RMGS UYI WI VIUYMIVI IW
TEGMIRGME

)NM 3KFI HMGI UYI WM IWXE TIVWSRE IW MQTSXIRXI LEKE IFS  GEYVMW  TEV HI
GEP^SRGMPPSW  TEPSQE  KEPPMRE TEVE 3VMWLE 3OS )P IFS JYI LIGLS LYFS YRE
FIRHMGMRHILMNSW
)NM3KFIHMGIUYIWMIWXETIVWSRERIGIWMXEYRPYKEVTEVEZMZMVHIFILEGIVIFS
GEYVMW  IWXIVE ] VSTE TEVE PSW TSFVIW )P IFS JYI LIGLS YRE FIRHMGMR HI GEWE JYI
VIGMFMHE
)NM 3KFI HMGI UYI RS LE] RIGIWMHEH HI GSQTIXIRGME 0E TEGMIRGME IW PS RMGS UYI WI
RIGIWMXETEVEVIGMFMVPEWFIRHMGMSRIWHIIWXI3HY
)NM 3KFI HMGI UYI IWXE TIVWSRE RIGIWMXE EHUYMVMV WEFMHYVE ] LYQMPHEH -RHMGE PE
TSWMFMPMHEH HI MRMGMEGMR  7STSVXEV IP WYJVMQMIRXS TYIW IW WPS XIQTSVEP ,SRVEV WYW
XEFIW]PSWXEFIWHIPSWHIQW
)NM 3KFI HMGI UYI WM IWXE TIVWSRE IWX IQFEVE^EHE HIFI PPIZEV EHMQY E 3FXP TEVE
XIRIVLMNSWWEPYHEFPIW
)NM 3KFI HMGI UYI 3WLYR SJVIGIVFIRHMGMSRIW IRGEWE ] FIRHMGMSRIW IRYR ZMENI
)FSEHMQYTEVE3WLYR
)NM3KFIHMGIUYIWMIWXETIVWSREXMIRIYREHMWTYXEHIFIWIVVIWYIPXEJVIRXIEPSVGYPS
0EWTIVWSREWLSRIWXEWGSRWYPXERPERYI^HIGSPETEVEUYIWYWEWYRXSWWIVIWYIPZERFMIR
)NM3KFIHMGIUYIIP\MXSZMIRITEVEEUYIPPSWUYIWIZIR]EGXERI\MXSWEQIRXI
)NM3KFIHMGIUYIIWXETIVWSREHIFIVEWIVYRPMHIVUYIKYMIWTVMXYWEJMRIWEP )WXS
WYKMIVIMRMGMEGMR]IPGSQMIR^SHIYREJEQMPMEIWTMVMXYEP 
)NM3KFIHMGIUYIWMIWXETIVWSREUYMIVITIHMVHMRIVSTVIWXEHSSTEVEMRMGMEVYRERYIZE
IQTVIWEUYIXSQEVYRTVWXEQSXVEIVFYIREJSVXYRE
)NM3KFIHMGIUYIWMIWXETIVWSREPIHEVSTEEPSWTSFVIWIPPSWWIVRGETEGIWHIGEQFMEV
WYERXMKYETMIP
)NM3KFIHMGIUYIIWXETIVWSREHIFIPPIZEVEHMQYE3FXP]QERXIRIVYREHMWGMTPMRE
VIPMKMSWE 7M IWXE TIVWSRE IWX WMKYMIRHS ZEVMSW GEQMRSW IWTMVMXYEPIW RIGIWMXE IWGSKIV
YRS]GSQTVSQIXIVWIGSRP
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IPPEHIFILEFPEVHIWTYWHISJVIGIVEHMQY
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LEFPEVHIWTYWHISJVIGIVEHMQY

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WY XSXEPMHEH ] RS WPS E WY MRXIPIGXS )WXE JSVQE HI GSRSGMQMIRXS RS WI TVIWXE GSR
JEGMPMHEHEPPIRKYENISFNIXMZS)RWYPYKEVEFVIYREHMQIRWMRHIGSRSGMQMIRXSIRUYI
VIWYIRE GSR WIKYVMHEH MRXIVMSV )NM 3KFI IRGEVRE PE PY^ UYI MPYQMRE XERXS EP YRMZIVWS
JWMGSGSQSEPYRMZIVWSIWTMVMXYEP)WXEQMWQEPY^WIIRGYIRXVEIRPEJYRHEGMRHIXSHEW
PEW GSRGMIRGMEW ] GSQS XEPIW RYRGE WI GSRZMIVXI IR IP GSRXIRMHS HIP TIRWEQMIRXS
GSRGMIRXI 'SQS PE PY^ TVMQSVHMEP )NM 3KFI PI HE PE GSRGMIRGME PE WIRWEGMR HI UYI
I\MWXIEPKSHIXVWHIIPPE)NM3KFIGSRIGXEXSHEWPEWGSWEWEYREJYIRXIGSQR]IWXI
IPIQIRXSHIMRXIVVIPEGMRIWPEQSXMZEGMRHIXVWHIPEGSRHYGXEXMGE
-JGSRWMHIVEUYI)NM3KFIIWYREJYIRXIMPMQMXEHEHIWEFMHYVEUYITYIHIWIVYXMPM^EHE
TEVE IPIZEV IP IWTVMXY LYQERS QW EPP HI GYEPUYMIV HMJMGYPXEH 0E IPIZEGMR IWXE
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TIVWSREP ] HI PE ZMWMR QWXMGE 'EHE ZI^ UYI SGYVVI IWXE EPMRIEGMR PE TIVWSRE UYI
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LE ETVIRHMHS PE PIGGMR HI PE LYQMPHEH IWXE MRXIKVEGMR HIP RYIZS TSHIV XIRHV
GSRWIGYIRGMEW TSWMXMZEW 7M PE TIVWSRE XSHEZE  IWX PYGLERHS GSR TVSFPIQEW HI
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WMQTPIQIRXI EFERHSRE IP QYRHS ] IRXSRGIW PE 8MIVVE WYJVI HIWEWXVIW REXYVEPIW
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(IWTYWUYIIPMKMUYIHEVWIIRIP'MIPS3VYRQMPEPIWIRWIEEWYWLMNSWIPEVXIHIPE[S
EHMZMREGMR  0E MRZSGEGMR TEVE PE EHMZMREGMR WMIQTVI GSQMIR^E GSR EPEFER^EW
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37%
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IQTEVINEVWI3VMWLEEGSRWINUYIYREYRMRRSHIFIHEVWIEQIRSWUYIWIGSRJMVQIGSR
PSW GEVEGSPIW UYI WXE ZMIRI GSR FIRHMGMSRIW %W JYI GSQS 3VYRQMPE ] 3WLYR WI
YRMIVSR9REFIRHMGMRTEVEEUYIPPSWUYIIWGYGLERPSWGSRWINSWHI3VMWLE


3VMWLEGSRWYPXPSWGEVEGSPIWTEVE3]EIPHEIRUYIIPPEUYIVEXIRIVLMNSWIRPEXMIVVE
3VMWLEEGSRWINEE]EUYILMGMIVEIFS)PIFSJYILIGLS]EWJYIGSQS3]ETYHSXIRIV
RYIZI LMNSW )P IFS TYIHI WIV LIGLS S TEVE 3WLYR S TEVE 3]E  )FS 3WLYR 
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0SWIRIQMKSWHIEJYIVERSWSRXERQEPSWGSQSEUYIPPSWIRGEWE
EUYIPPSWIRGEWEWSRPSWUYIXIHEERGSRWYPXTEVE%JEPEIPHEIRUYIP
UYIVE PEZEV YRE VSTE RIKVE LEWXE GSRZIVXMVPE IR FPERGE 3VMWLE EGSRWIN E %JEPE UYI
LMGMIVEIFSTEVEIWGETEVHIPTIPMKVS)PIFSJYILIGLS%JEPEIWGETHIPTIPMKVS%JEPE
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)PTIPMKVSHIPJYIKSRSQEXEEPTETEKE]S%JEPEWEPYHEEPTIPMKVS
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)WIRPETSFVI^EUYIYRRMSETVIRHIPEEHMZMREGMRIWHIWTYWHI
PE  EHMZMREGMR  UYI  PE VMUYI^E  PPIKE GSRWYPX TEVE %JMNEFIVY IP HE IR UYI P
IWXEFEFYWGERHSVMUYI^EW3VMWLEEGSRWINE%JMNEFIVYUYILMGMIVEIFS]UYIETVIRHMIVE
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%JMNEFIVYGERXIREPEFER^EE3VMWLE
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1MVEIRJVIRXIHI%PETERMSWHIXVWHIPHMRIVSHI%PETE
%JMNEFIVYYRFYIREHMZMRS%JMNEFIVYYRFYIREHMZMRS
)FSGEYVMWKEPPSTEPSQEVSTETEVEPSWTSFVIW]EGIMXIHITEPQE TEVE3]E 

3VMWLEGSRWYPXTEVEIP(IWXMRSIPHEIRUYIPUYIVEMRHITIRHIRGME3VMWLEHMNSUYIIP
(IWXMRS WI LEVE MRHITIRHMIRXI WM WI HMWGYPTEFE GSR EUYIPPS UYI WYJVMIVSR TSV WY
MRWSPIRGME3VMWLEPIEGSRWINEP(IWXMRSUYILMGMIVEIFS)PIFSJYILIGLS]IP(IWXMRS
VIGMFMMRHITIRHIRGME]WIGSRZMVXMIRHIZSXSE3VMWLE
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46)(-''-32)7
3VMWLE HMGI UYI YR EQMKS IWX TSRMIRHS E IWXE TIVWSRE IR TIPMKVS )WXE TIVWSRE HIFI
UYIHEVWIIRGEWETSVHEWTEVEIZMXEVGSRJPMGXSW9REQMKSUYIXVEMGMSREEYREQMKS
WIXVEMGMSREEWQMWQS
3VMWLEHMGIUYIIPTIPMKVSIWIZMXEHSFIRHMGMSRIWHIPEVKEZMHE

3VMWLE HMGI UYI IWXE TIVWSRE IWX WMIRHS EGYWEHE HI WIV YRE TIVWSRE UYI IGLE
QEPIJMGMSW)WXIEWYRXSHIFIWIVPPIZEHSE7LERKS
3VMWLEHMGIUYIIWXETIVWSREHIFIIWXEVGPEVEWSFVIPSUYIHIWIE3VMWLEPSLEVVIEPMHEH
GSQSWMWIXVEXEWIHIYRWYIS2SWIHIFIFYWGEVEUYIPPSUYIIWMRHIWIEHS
3VMWLE HMGI UYI WM IWXE TIVWSRE XMIRI LMNSW WI HIFI LEGIV YR IFS IR RSQFVI HIP
TVMQSKRMXS TEVE IZMXEV IRJIVQIHEHIW 3VMWLE HMGI UYI IWXE TIVWSRE HIFI GYMHEV E WY
TVMQIVLMNS)FSGEYVMW]VEXE TEVE3KYR 
3VMWLE HMGI UYI IWXE TIVWSRE IWX FYWGERHS YRE TSWMGMR HI PMHIVE^KS )P PMHIVE^KS
TYIHI WIV IRGSRXVEHS IR IP FSWUYI %HMQY TEVE 3VMWLE 3OS ZIKIXEPIW HI NEVHR
GSPSGEHSW GIVGE HI YR VFSP  3VMWLE HMGI UYI IWXE TIVWSRE VIGMFMV YRE FIRHMGMR HI
PMHIVE^KS
46-2'-4-371)8%*7-'37
3WE IW IP TVMRGMTMS QIXEJWMGS UYI XVEI PSW ZMIRXSW HI GEQFMS )W GSRSGMHS GSQS IP
IWTVMXYHIPE,YHE)P)WTVMXYHIPE,YMHEIWGYEPUYMIVMRXIRXSHIIZEHMVIPHIWEWXVI
UYI KYE E QW HIWEWXVI3WEIWWMQMPEV E PE GEVXEHIPE8SVVI IRPEW 'EVXEWHIP 8EVSX
,E]YRIPIQIRXSHIGESWJSVXYMXSHIRXVSHIPSWWMWXIQEWUYIVIKYPERIPEQFMIRXIIRPE
8MIVVE )P GESW HI PEW JYIV^EW REXYVEPIW UYI TYIHI GEYWEV XIVVIQSXSW MRYRHEGMSRIW ]
IVYTGMSRIW ZSPGRMGEW EWIKYVE YR GMIVXS RMZIP HI LYQMPHEH VIPEGMSREHE EP TSHIV
MRLIVIRXI UYI KIRIVEPQIRXI ]EGI PEXIRXI HIRXVS HI PE XMIVVE 0SW GEQFMSW GEXEGPWXMGSW
TYIHIR TEVIGIV HYVSW I MRNYWXSW TIVS VITVIWIRXER IP QEPIRXIRHMHS IWXVYIRHS HI PE
8MIVVE IR PE QIHMHE IR UYI )PPE WI QYIZI LEGME YR WIRXMHS HIP SVHIR QYGLS QW
TVSJYRHS
%PKYRSWXMTSWHIXYVFYPIRGMEWEQFMIRXEPIWWSRVIEGGMSRIWEPEFYWSIGSPKMGS0E8MIVVE
TEWETSVTIVSHSWHIWSPIZERXEQMIRXSWXVIQIRHSWHYVERXIIPGYEPPE2EXYVEPI^ETEVIGI
IWXEVFSVVERHSPETM^EVVETSVGSQTPIXSTEVEUYI EW)PPETYIHEGSQIR^EVHIRYIZS)WXI
TVSGIWS IW TEVEPIPS E PE JSVQE GSQS IP GYIVTS TVSHYGI JMIFVI TEVE GSQFEXMV YRE
MRJIGGMR
)P JSPOPSVIIR IWXI 3HY LEFPE HIPTSHIVHIPSW %NI 0SW %NIWSRIWTVMXYW IPIQIRXEPIW
UYIPEWIWGVMXYVEWHIJEHIWGVMFIRGSQSWMIXIXMTSWHITNEVSWQXMGSWUYIZMZIRIRIP
VFSP -VSOS 8ERXS PSW LSQFVIW GSQS PEW QYNIVIW MRZSGER E %NI GSQS YRE JYIRXI
TSHIVSWEHIEFYRHERGME0SW%NIXEQFMRWSRPSWKYEVHMERIWHIPTSHIVHIPEWQYNIVIW]
TYIHIR WIV I\XVIQEHEQIRXI HMWVYTXMZSW TEVE GSR EUYIPPSW UYI WSR EFYWMZSW GSR PEW
QYNIVIW 0E MRWXVYGGMR IR IWXI 3HY IW WIV TEGMIRXI GSR PEW HMJMGYPXEHIW IR PEW
VIPEGMSRIW
3*92
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%JYR  ]IR]IR  %OER  ]IR]IR  3]IR]IR  FPERGS GSQS  YRE  XIPE  FPERGE
GSRWYPXTEVE3VMWLERPE3WLIVIKFS 3FXP IPHEIRUYIPUYIVELMNSW3VMWLEHMNS
LEW IFS ] XYW LMNSW WIVR MRGSRXEFPIW )P IFS JYI LIGLS 3VMWLERPE 3WLIVIKFS XYZS
XERXSWLMNSWUYIPRSTYHSGSRXEVPSWEXSHSW)PGERXIREPEFER^EE3VMWLE
3QSIRMOEWEMFERMKFEPESQSIRMFEFMQS

3QSIRMOEWEMFERMKFEPEEQSIR
7MYRSXMIRIHMRIVSWYWLMNSWPPIZEVRYREXIPEFPERGEGSRIPPSW
7MYRSXMIRILMNSWWYLMNSPPIZEVYREXIPEFPERGEGSRPWYLMNS
)FS  GEYVMW XIPE FPERGE FEFSWEW ]YRE KEPPMREFPERGE XIPE ] FEFSWEWTEVE
3FXPKEPPMRETEVE)WY 
)[SLSRVEVPSWXEFIWHI3FXP

9RTIVVS]QYIVIHINEWYWLYIWSW  IRPEXMIVVE YRTSPPSFPERGS
QYIVI]HINEYRQSRXRHITPYQEWYREFEFSWEQYIVI]SPZMHEWY
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XVEMGMSREVPI3VMWLEHMNSUYILMGMIVEIFSTEVEXIRIVZMGXSVMEWSFVIPSWIRIQMKSW)PIFS
JYILIGLSIP3FERSJYIHEEHSPGERX
3FE-JEQYPISHE-JE3OIXISFE]MRM [EVI3FE-JEQYPISHE-JE
+EPPSIWXIIWXYHIWXMRSXYLMGMWXIYRNYVEQIRXIERXI-JETIVSPSXVEMGMSREWXI6EXESL
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IVEIPLMNSHI3PSHYQEVIIPHEIRUYIPE1EVEZMPPEUYIVEYREZMHETPEGIRXIVE3VMWLE
HMNS UYI XSHSW PSW WYISW HI 1EVEZMPPE WI LEVER VIEPMHEH WM P LEGE IFS )P IFS JYI
LIGLSXSHSWPSWHIWISWHI1EVEZMPPEWIQERMJIWXEVSRIRPEXMIVVEPGERX
& EFEP S[SIRMEHE VEVHISQS3PHQEV-KFEX EFEFM QSEHE VEV
HISQS3PHQEV2MKFEX EFEVM VIKFSKFSP EHE VE
7MYRSXMIRIHMRIVSVIEPM^EQEVEZMPPEW1EVEZMPPEZMIRILMNSHI3PSHYQEVIGYERHSYRS
GSRGMFILMNSWVIEPM^EQEVEZMPPEW1EVEZMPPEZMIRILMNSHI3PSHYQEVIGYERHSYRSXMIRI
XSHEWPEWFIRHMGMSRIWVIEPM^EQEVEZMPPEW
)FSGEYVMWLYIZSWTEPSQEFPERGEFEFSWEW GEYVMWLYIZSW]FEFSWEWTEVE
3FXPTEPSQETEVE3V 3VEGMRE3PSHYQEVITEVEPEEFYRHERGME

=SSJVIGHSWGMIRXSWGEYVMWPEWGSWEWIWXRHMJGMPIWTEVEQM]SSJVIG
HSW  QMP  GYIRXEW  HI FVSRGI  PEW  GSWEW  WI  LMGMIVSR  JGMPIW TEVE  QM
GSRWYPX TEVE IP 7LIOIVI IP HE IR UYI P LEFE LIGLS SJVIRHEW TIVS ER IWXEFE
RIGIWMXEHS3VMWLEEGSRWINEP7LIOIVIUYIPISJVIGMIVEFVSRGIE3WLYR0ESJVIRHEJYI
LIGLE]PEWGSWEWWILMGMIVSRQWJGMPIWTEVEIP7LIOIVI

9RE  KVER   WEFMHYVE  IW  PE  PPEZI  TEVE  SFXIRIV  KVER  WEFMHYVE  WM 
RSWSXVSWRSSFXIRIQSWYREKVERWEFMHYVERS4SHIQSWETVIRHIVPE
QIHMGMRETSHIVSWEWMRSETVIRHIQSWPEQIHMGMRETSHIVSWERS4SHIQSW

GYVEVPEIRJIVQIHEHWMRSTSHIQSWGYVEVPEIRJIVQIHEHRSKEREQSW
KVERHIWVMUYI^EWWMRSKEREQSWKVERHIWVMUYI^EWRSTSHIQSWLEGIV
GSWEW  KVERHMSWEW GSRWYPX TEVE 3VYRQMPE IP HE IR UYI P JYI EXVETEHS TSV PE
IWGPEZMXYH3VMWLEHMNSUYIIWXETIVWSRERSIVEYRIWGPEZS )WXI3HYWYKMIVIUYIIWXE
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MRJPYIRGME)WXIEWYRXSHIFIWIVPPIZEHSE-JE 
3VMWLEUYIWMIWXETIVWSREIWXWIVMEQIRXIIRJIVQEWIHIFILEGIVIFSTEVE3]E)PIFS
JYILIGLSYREFIRHMGMRHIFYIREWEPYH
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EJIMXEV 
46)(-''-32)7
3VMWLEHMGIUYIWMIWXEQYNIVIWIWXVMPHIFILEGIVIFSTEVE3]E)FSGEYVMW
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3VMWLE HMGI UYI WM IWXI LSQFVI IW MQTSXIRXI HIFI LEGIV IFS TEVE 3KYR )FS 
GEYVMW]YRKEPPSFPERGS
3VMWLE HMGI UYI IWXE TIVWSRE HIFI E]YREV TSV QSXMZSW HI WEPYH )WXS WYKMIVI E]YRSW
TIVMHMGSWXERXSTEVEPMQTMI^EJWMGEGSQSTEVEPMQTMI^EIWTMVMXYEPWMPETIVWSRERSIWX
IRJIVQEIPE]YRSHIFIWIVVIGSQIRHEHSTEVEXIRIVGPEVMHEHIWTMVMXYEP 
3VMWLEHMGIUYIIWXETIVWSREHIFIQIHMXEV]TIHMVPIE3PSHYQEVIWYKYE
3VMWLEHMGIUYIIWXETIVWSREHIFIEPEFEVE3FXPWMUYMIVIYREFYIREZMHE
3VMWLE HMGI UYI IWXE TIVWSRE XMIRI YRE VIPEGMR UYI EPKYMIR IWX XVEXERHS HI
HIWTVIWXMKMEV )WXE TIVWSRE HIFI GERXEVPI E 3WLYR TEVE TIHMV GPEVMHEH IR IWXI EWYRXS
%HMQY TEVE 3WLYR ] 3HY )P %HMQY TEVE 3HY TYIHI WIV LIGLS HMVIGXEQIRXI E PSW
GEVEGSPIWHIEHMZMREGMR 
3VMWLEHMGIUYIEPKYMIRUYILELIGLSYRNYVEQIRXSGSRIWXETIVWSREPSVSQTIV3VMWLE
EGSRWINEUYIWIWIEGYMHEHSWSGSRIWXIEWYRXS
46-2'-4-371)8%*7-'37
3JYRIWGSRSGMHSGSQSIR(EHSV)R3JYRIPYRMZIVWSGSRGIHIEUYIPPEWFIRHMGMSRIW
UYIZMIRIR GSQSVIWYPXEHS HIPE FWUYIHE TIVWMWXIRXIHI PEMPYQMREGMR'EHEMRXIRXS
HIGVIGMQMIRXSIWTMVMXYEPTYIHIXVEIVYRVIWYPXEHSTSWMXMZSMRGPYWSWMRSLEGIQWUYI
GPEVMJMGEVRYIWXVSIRXIRHMQMIRXSHIUYRSWIHIFILEGIV)WIPTSHIVHIPETEPEFVEIRIP
WIRXMHS %PUYQMGS HI XIRIV PE LEFMPMHEH HI XVERWJSVQEV IP TPSQS IR SVS )P TPSQS
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MKRSVERGME PEW PI]IW 2EXYVEPIW )P SVS IW IP JVYXS WMQFPMGS HI RYIWXVE PEFSV GYERHS
XVEFENEQSW IR EVQSRE GSR PE PI] 2EXYVEP 0E ZIVHEH HI IWXI TVMRGMTMS QIXEJWMGS IW
IRGSRXVEHE IR PSW VIWYPXEHSW FIRJMGSW UYI PPIKER GYERHS PSW KVERNIVSW VSXER WYW
GYPXMZSW)WWEFMHSGYERHSHEV]GYERHSXSQEVGYERHSGSRWXVYMV]GYERHSHIWXVYMV

)PJSPOPSVIHIIWXI3HYHMGIUYIGYERHSPSW-RQSVXEPIWZMZERIRPE8MIVVELEFEQYGLE
GSRJYWMR ] GESW 0E VE^R HI IWXE HIWEVQSRE IVE TSVUYI PSW -RQSVXEPIW HINEFER PE
8MIVVEIMFEREP'MIPSIRQSQIRXSWHMJIVIRXIWTSVPSUYIRSLEFEYRMHEHIRIP'MIPS
3VYRQMPE PPEQEXSHSW PSW -RQSVXEPIW ] TVITEVYR FERUYIXI (IWTYW HI PE GSQMHE
3VYRQMPE PI HMNS E PSW -RQSVXEPIW UYI WYFMIVER EP 'MIPS IR KVYTS (IWHI IWI HE IR
EHIPERXI LYFS YRMHEH IR IP 'MIPS )WXS WYKMIVI UYI XSHEW PEW WSGMIHEHIW VIPMKMSWEW
JVEXIVRMHEHIW S LIVQERHEHIWUYII\MWXIR HIRXVS HIPEXVEHMGMR HI -J3VMWLE RSHIFI
GSRWMHIVEVWIEWQMWQEWGSQSIRGSRJPMGXSSIRGSQTIXIRGME
3;326-2
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9RSUYIHIWTMIVXEIRPEGMYHEHYRSUYIGEQMREIRPEGMYHEHYRS
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PEZEVWYVSWXVSGSRWYPXTEVE3[SRVMRLMNSHI9RSUYIXSVXEQEHIVETSV
HMRIVS]TEVEPE'YPIFVELMNEHI9RSUYIGE^EGSRYRELSRHETEVEXIRIV
VMUYI^EW IP HE IR UYI EQFSW IWXEFER FYWGERHS PE FYIRE JSVXYRE 3VMWLE EGSRWIN E
3[SRVMR ] E PE 'YPIFVE UYI LMGMIVER IFS )P IFS JYI LIGLS 3[SRVMR ] PE 'YPIFVE
VIGMFMIVSRFIRHMGMSRIW
)FSGEYVMWYRELSRHE YREGLMRE ]YRQEGLIXI TEVE3KYR 

3VMWLE HMGI UYI IWXE TIVWSRE RS HIFI WIV HIWSFIHMIRXI E PE ZSPYRXEH HI PSW ERGIWXVSW
3VMWLEEGSRWINEUYIWILEKEIFS)PIFSJYILIGLSLYFSYREFIRHMGMRHIEFYRHERGME
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)FS VSTE TEVE PSW TSFVIW JVMNSPIW VSNSW FYYIPSW LEVMRE HI QE^ EQEWEHE TSPPS ]
GIVZI^ETEVEPSWERGIWXVSW

9REIWGEWI^  HIHMRIVS  IW  GYERHSFYWGEQSW HMRIVSYRE IWGEWI^  HI
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P3OERVER
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XKEREHSKF SHVERN
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TVSTMIXEVMSHIP1MWXIVMSERXMKYEHIP4ES&PERGSIP)WTVMXY5YMIRWIPSEWSFVIIPHE
WEKVEHSHIP&SWUYIIP8YXSVHIIWSWGSRMRGETEGMHEHIWJWMGEW)PVI]HIXSHEWJYXYVEW
KIRIVEGMSRIW
FHI=IQSNE3PKFVIVI
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F3WYRSPSVM]EMKREV[ESFMVMR
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FPYOWEMVEFQFSVRSVMKFWIKR
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F%NPM]NPVYR3]E3P[OY 
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FEMFINMSVS
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WYJSVXYREFYIREZSPPINSWGSQSTNEVSW3VMWEEGSRWINPEKIRXIHI-KFSLS1SVSLEGIV
IFS TEVE UYI JSVXYRE FYIRE TIVQERI^GE EP LSKEV 0E IFS WI LM^S PE KIRXI HI -KFSLS
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%XYOERIVY2FS[LSVKFEPI[EW E[SIRMX SWMPSRFPI


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TVIWEKMEV)PUYMIRIRZMPINSWVIKVIWEEGEWE,SK[IIH EGETEVEVHIWLMIVFEV ZIRMHEE
PEW  VYMREW HI PE EVFSPIHE TEVE  TVIWEKMEV )P RMS UYMIR JYI PINSW VIKVIWE E GEWE
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TMGLR9REVEXE]IWGEQSXIETIXVPIS )PGEVEGSP]TESFPERGSE3FXPKEPPMRE
TMGLRPEVEXE]IWGEQSXIETIXVPISE)WY 

0EWSHYRHYRTPERXEVXSGEPEWGSRIGXEHSPSLEHSWGMIRXSfPMGIRGMEWPE
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PYKEVTEVELEGIVIFS3VMWEEGSRWINPEKIRXIHI-KFSLS1SVSLEGIVIFSTEVEUYIIPPSW
XIRKERYRPYKEVTEVEEHSVEV3VMWE0EIFSWILM^SPEKIRXIHI-KFSLS1SVSXYZSYRPYKEV
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PEEPEFER^EHIP3VMWE
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037463+2378-'37
3OERVERHMGIUYIIWXETIVWSREIWPETIPIEWSFVIYRELIVIRGME)FSHIFIVELEGIVWITEVE
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3OERVERHMGIUYIIWXETIVWSREHIFIVETEVEVVI^ERHSTEVEIPLSRSV]VI^ERHSTEVE
RMSW
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03746-2'-4-371)8%*7-'37
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PEMRNYWXMGME-JIRWIEUYIIR3OERVER7ERKSPPIKEEWIVIRGEVREHSGSQSYR3VMWETSV
PSWTVMRGMTMSWHI.YWXMGMEUYIWSRIPQERMJMIWXSQIHMERXIPE'VIEGMR)P7ERKSLMWXVMGS
IVEYRKYIVVIVSIJIGXMZSUYMIRYRMJMGPETSVGMRSVMIRXEPHIPE2EGMR=SVYFE(IWTYW
HIWYWZMGXSVMEWWSFVIIPGEQTSHIFEXEPPE7ERKSPPIKEWIVEFYWMZSIRWYYWSHITSHIV
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WMKRMJMGEUYIIP'VIEHSVIWYREMRHYPKIRXI(IMHEH4SV7ERKSIRGEQEVGSQS3VMWEIP
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JEPWSTYIHIGVIEVYREMPYWMRHIVIEPM^EGMR]LSRSVTIVSPEWPI]IWHI2EXYVEPI^EWSR
XEPUYIPEMPYWMRRSTYIHIWIVQERXIRMHETSVWQMWQSMRHIJQMXIP]'YERHSPEMPYWMR

HIWQSVSRE TYIHI WIV YRE HIWXVS^ERHS I\TIVMIRGME TIVS TYIHI XVEIV XEQFMR
GSRSGMQMIRXSW HI XVERWJSVQEGMR 'YERHS IWSW UYMIR IWXR IR YRE TSWMGMR HI
EYXSVMHEH EFYWEHS WY TSHIV TYIHI GSRHYGMV VIWYPXEHSW HIWEWXVSWSW 'YERHS UYI PE
QMWQETIVWSREETVIRHIPEWPIGGMSRIWSGEWMSREHETSVWYTIVWSREPMHEHTVSTMEHIGITGMR
IPPSWPEPEXEJVIGYIRXIQIRXIPPIKEVEWIVJYIV^EWJYIVXIWTEVEIPGEQFMS
)WXI 3HY IW GEVEGXIVM^EHS TSV PE I\TVIWMR )P 1YRHS GSQMIR^E GSR 9RS 0E ZMHE
TVMQIVEHIGPYPERMGEJSVQEQIHMERXIPETYKRE]PEXIREGMHEHGSRHYNSEPEGVIEGMRHI
XSHEPEZMHEWSFVIPEXMIVVE'EHEKVERHITVSJIXE LEFPJYIVEGSRXVEPEMRNYWXMGMEHIWYW
ZIGIWIRYRIWJYIV^SEVIHIJMRIPSWTIVQIXVSWHITE^]EVQSRE9REHITIVWSREUYMIR
ZEPMIRXIQIRXIVIXMIRIEPE:IVHEHTYIHIXVERWJSVQEVYREREGMR
)R IWXI 3HY IP JSPOPSVI LEFPE HI 7ERKW TVITEVEGMSRIW GSR GEWEV 3]E IP )WTVMXY HIP
:MIRXS]IP8YXSVHIPE4YIVXEEPVIMRSHIPSWEWGIRHMIRXIW 3VMWEEGSRWIN7ERKSUYIA
HIFILEGIVIFSEQIWHI IRXVEVIRIPGEWEQMIRXS)PWIEGSRWINUYIWMPRSLM^SIFS
3]E PPIKEVE E WIV QW I\MXSWS UYI PS 7ERKS RS GVI] UYI PE EHZIVXIRGME ] VILYWEVE
LEGIVIFS% IWXIHE IP VIPQTEKSYWEHS TSV 7ERKSTEVEHMWTIRWEV .YWXMGME (MZMREIW
KIRIVEHSTSVPSW:MIRXSWHI3]E
'YERHS -JEHMGIIPQYRHSGSQMIR^EGSRYRSVIJMIVI EPYRSUYIWIJSVQEQIHMERXIIP
FEPERGITIVJIGXSIRXVIPEWJEGYPXEHIWHII\TERWMR]PEGSRXVEGGMRPY^]SWGYVMHEH=
IRIPMHMSQEHIPJSPOXEPIIPFEPERGIIRXVIJEGYPXEHIWQEWGYPMREW]JIQIRMREW7ERKSIR
WY EVVSKERGME GVII UYI WY TSHIV WSPS IW WYJMGMIRXI TEVE PS GSRHYGMV \MXS )W UYI PE
QMWQE EVVSKERGME UYI PS SGEWMSRE TEVE GEIV HIWHI IP JYZKV HIWTYW UYI P PPIKE E WIV
NIJI)PQYRHSGSQMIR^EGSRYRS]UYIYRSIWYRQMGVSGSWQSWHIXSHSWUYIIW
).-3/3
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0EFSRHEHIWRSWEXMWJEGIPEQEPHEHIWRSHIZYIPXSLEGMIRHSPEFSRHEH
GSRQEPHEH PEWMRXIRGMSRIWSGEWMSREFSRHEH  EWIV  MRWEXMWJIGLS  UYIPPSW
LEGIRTEVEYRTSPPSIWRSMRWEXMWJIGLS HIWTYWHIYRTSGSQMIRXVEW
RSWSXVSWLIGLEGEPHSTEVEPSWEGSQMHEIPPERGITEVE%KERREWSFVIIPHEUYIP
MFETEVE WIV MRWXEPEHS GSQS3FE HI 3OS'YEPUYMIV %KERREXYZS P HEVE PINSW E IWSW
UYMIRIWXEFERIRPERIGIWMHEH7SFVIIPHEUYIPEKIRXIHI3OSRIGIWMXWIPIGGMSRYR
RYIZS 3FE 0E KIRXI HI 3OS WIPIGGMSR %KERRE E GEYWE HI WYW EGXSW FYIRSW 3VMWE
EGSRWIN%KERRELEGIVIFSTEVEUYIWYXVQMRSGSQS3FEPSXVEMKEVMUYI^E)PIFSWI
LM^S%KERREVIGMFMYRFIRHIGMVHIVMUYI^E%KERREGERXIRPEEPEFER^EHI3VMWE
/MP S[EW %KERREH 3POSJMVS[S#3VMVIR. SW %KERREH 3PO
/MP S[EW %KERREH 3POSJMFQS#3VMVIR. SW %KERREH 3PO
/MP S[EW %KERREH 3POSJMN 3FE#3VMVIR. SW %KERREH 3PO
/MP S[EW %KERREH 3POSXMSNISOY#3VMVIR. SW %KERREH 3PO
5YLM^S%KERREPPIKSIPNIJIHI3OS]XMIRIHMRIVS#
0EFSRHEHIWUYLM^S%KERREPPIKEVEWIVNIJIHI3OS
5YLM^S%KERREPPIKEEWIVIPNIJIHI3OS]XMIRIRMSW#
0EFSRHEHIWUYLM^S%KERREPPIKEVEWIVNIJIHI3OS

5YLM^S%KERREPPIKEEWIVNIJIHI3OS]PPIKEEWIV6I]#
/MRHIWWIWUYLM^S%KERREPPIKEVEWIVNIJIHI3OS
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0EFSRHEHIWUYLM^S%KERREPPIKEVEWIVNIJIHI3OS
)FS0EWHHMZEWHIEPMQIRXSHMRIVS=VSTEEPTSFVI
)[S0EWEGGMSRIWTSGSEQEFPIW

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