Escolar Documentos
Profissional Documentos
Cultura Documentos
SUSTENTABILIDADE
COM CRIAO DE VALOR
A DURATEX MANTM UM MODELO DE NEGCIO QUE COMBINA ASPECTOS LIGADOS SUSTENTABILIDADE DE SUAS
OPERAES COM A CRIAO DE VALOR. DESSA FORMA, ALIA A BUSCA DE RESULTADOS ECONMICOS A UMA ATUAO
TICA, QUE ENVOLVE O RESPEITO LEGISLAO, A PRESERVAO DO MEIO AMBIENTE E A RESPONSABILIDADE
SOCIAL. PRIMEIRA EMPRESA DA AMRICA LATINA A OBTER A CERTIFICAO FSC, DO CONSELHO DE MANEJO
FLORESTAL, INVESTE EM TECNOLOGIA E INOVAO PARA FABRICAR PRODUTOS DE MADEIRA, LOUAS E METAIS
SANITRIOS QUE SO SINNIMOS DE QUALIDADE E LIDERANA DE MERCADO.
PERFIL
A Duratex S.A. uma empresa nacional privada de capital aberto com aes negociadas na Bolsa de Valores de So Paulo.
Atua com duas divises de negcios: Madeira e Deca. A Diviso Madeira lder no mercado brasileiro de produo de painis de
madeira reconstituda, com chapas de fibra, aglomerados (MDP), painis de alta, mdia e superdensidades (MDF, HDF e SDF)
e pisos laminados comercializados sob a marca Durafloor. A Diviso Deca produz e comercializa metais e louas sanitrias
e seus respectivos acessrios. Os produtos so representados pela prpria marca Deca e com a marca Hydra (para vlvulas
de descarga). Possui liderana no segmento local de metais sanitrios e ocupa posio de destaque em louas sanitrias. Os
principais consumidores de seus produtos so a indstria de mveis e da construo civil. (GRI 2.1, 2.2, 2.6 e 2.7)
A Empresa controlada pela Itasa Investimentos Ita S.A., segundo maior grupo empresarial privado do Pas, que possui
operaes de destaque tambm nas reas financeira, de informtica, seguros e qumica. Fundada em 1951 como companhia
aberta, desde 2005 a Duratex faz parte do Nvel 1 de Governana Corporativa da Bolsa de Valores de So Paulo (bovespa).
Integra o Ibovespa, ndice que rene os principais papis negociados, e o IBRX 50, formado por uma carteira composta por 50
aes selecionadas entre as de maior liquidez no mercado.
Com 6.785 funcionrios ao final de 2007, possui oito unidades industriais no Brasil, sete no Estado de So Paulo e uma
no Rio Grande do Sul. Sua sede administrativa est localizada na capital paulista, de onde administra uma carteira de
aproximadamente 11 mil clientes ativos (que realizaram alguma compra no ltimo ano). No exterior, opera uma pequena
fbrica de metais sanitrios na Argentina, a Deca Piazza, alm de subsidirias comerciais nos Estados Unidos (Duratex North
America) e na Europa (Duratex Europe). Louas e metais sanitrios so exportados para 35 pases, onde so comercializados
em cerca de 1,4mil pontos-de-venda. (GRI 2.3, 2.4, 2.5 e 2.8)
Em 2007, o bom momento econmico permitiu a utilizao de praticamente toda a capacidade industrial instalada da Duratex,
sendo 1,5 milho de metros cbicos de painis de madeira, 14,4 milhes de peas de metais sanitrios e 3,8 milhes de peas
de louas sanitrias. Dentro de seu plano de expanso a ser concludo em 2009, foram realizados alguns desengargalamentos
de processos, principalmente em metais e louas sanitrias, que passaram a contar com capacidade adicional de 8% e 5%,
respectivamente. Alm dessas expanses, foram adquiridos mais 9,4 mil hectares de terra para fazer frente expanso de
capacidade em painis de MDF que ser concluda em 2009. (GRI 2.9)
Com aproximadamente 110 mil hectares de florestas prprias, a Duratex atualmente auto-suficiente em madeira. No
interior do Estado de So Paulo, as reservas de Lenis Paulista, Botucatu, Itapetininga e Agudos so certificadas com o selo
verde da Forest Stewardship Council (FSC), organizao internacional que atesta o correto manejo florestal do ponto de vista da
sustentabilidade. A gesto das reas florestais de Botucatu e o viveiro de mudas detm ainda a certificao ISO 14.001, de gesto
ambiental.
Em 2007, a receita lquida somou R$ 1.670,6 milhes, o lucro lquido atingiu R$ 318,9 milhes, o EBITDA foi de
R$558,1milhes, equivalente a uma margem EBTIDA de 33%. No encerramento do ano, o valor de mercado da Companhia era de
R$5,6bilhes. (GRI2.8)
E:G;>A
69jgViZmH#6#jbVZbegZhVcVX^dcVaeg^kVYVYZXVe^iVaVWZgidXdbVZhcZ\dX^VYVhcV7dahVYZKVadgZhYZHdEVjad#
6ijVXdbYjVhY^k^hZhYZcZ\X^dh/BVYZ^gVZ9ZXV#69^k^hdBVYZ^gVaYZgcdbZgXVYdWgVh^aZ^gdYZegdYjdYZeV^c^hYZ
bVYZ^gVgZXdchi^ijYV!XdbX]VeVhYZWgV!V\adbZgVYdhB9E!eV^c^hYZVaiV!bY^VZhjeZgYZch^YVYZhB9;!=9;ZH9;
Ze^hdhaVb^cVYdhXdbZgX^Va^oVYdhhdWVbVgXV9jgVddg#69^k^hd9ZXVegdYjoZXdbZgX^Va^oVbZiV^hZadjVhhVc^i{g^Vh
ZhZjhgZheZXi^kdhVXZhhg^dh#DhegdYjidhhdgZegZhZciVYdheZaVegeg^VbVgXV9ZXVZXdbVbVgXV=nYgVeVgVk{akjaVh
YZYZhXVg\V#Edhhj^a^YZgVcVcdhZ\bZcidadXVaYZbZiV^hhVc^i{g^dhZdXjeVedh^dYZYZhiVfjZZbadjVhhVc^i{g^Vh#Dh
eg^cX^eV^hXdchjb^YdgZhYZhZjhegdYjidhhdV^cYhig^VYZbkZ^hZYVXdchigjdX^k^a#(GRI 2.1, 2.2, 2.6 e 2.7)
6:begZhVXdcigdaVYVeZaV>iVhV>ckZhi^bZcidh>iVH#6#!hZ\jcYdbV^dg\gjedZbegZhVg^Vaeg^kVYdYdEVh!fjZedhhj^
deZgVZhYZYZhiVfjZiVbWbcVh{gZVhcVcXZ^gV!YZ^c[dgb{i^XV!hZ\jgdhZfjb^XV#;jcYVYVZb&.*&XdbdXdbeVc]^V
VWZgiV! YZhYZ '%%* V 9jgViZm [Vo eVgiZ Yd CkZa & YZ <dkZgcVcV 8dgedgVi^kV YV 7dahV YZ KVadgZh YZ Hd EVjad WdkZheV#
>ciZ\gVd>WdkZheV!cY^XZfjZgZcZdheg^cX^eV^heVe^hcZ\dX^VYdh!Zd>7GM*%![dgbVYdedgjbVXVgiZ^gVXdbedhiVedg*%
VZhhZaZX^dcVYVhZcigZVhYZbV^dga^fj^YZocdbZgXVYd#
8db+#,-*[jcX^dc{g^dhVdcVaYZ'%%,!edhhj^d^idjc^YVYZh^cYjhig^V^hcd7gVh^a!hZiZcd:hiVYdYZHdEVjadZjbV
cd G^d <gVcYZ Yd Hja# HjV hZYZ VYb^c^higVi^kV Zhi{ adXVa^oVYV cV XVe^iVa eVja^hiV! YZ dcYZ VYb^c^higV jbV XVgiZ^gV YZ
Vegdm^bVYVbZciZ && b^a Xa^ZciZh Vi^kdh fjZ gZVa^oVgVb Va\jbV XdbegV cd ai^bd Vcd# Cd ZmiZg^dg! deZgV jbV eZfjZcV
[{Wg^XVYZbZiV^hhVc^i{g^dhcV6g\Zci^cV!V9ZXVE^VooV!VabYZhjWh^Y^{g^VhXdbZgX^V^hcdh:hiVYdhJc^Ydh9jgViZmCdgi]
6bZg^XVZcV:jgdeV9jgViZm:jgdeZ#AdjVhZbZiV^hhVc^i{g^dhhdZmedgiVYdheVgV(*eVhZh!dcYZhdXdbZgX^Va^oVYdh
ZbXZgXVYZ&!)b^aedcidh"YZ"kZcYV#(GRI 2.3, 2.4, 2.5 e 2.8)
:b'%%,!dWdbbdbZcidZXdcb^XdeZgb^i^jVji^a^oVdYZegVi^XVbZciZidYVVXVeVX^YVYZ^cYjhig^Va^chiVaVYVYV9jgViZm!
hZcYd&!*b^a]dYZbZigdhXW^XdhYZeV^c^hYZbVYZ^gV!&)!)b^a]ZhYZeZVhYZbZiV^hhVc^i{g^dhZ(!-b^a]ZhYZeZVh
YZadjVhhVc^i{g^Vh#9ZcigdYZhZjeaVcdYZZmeVchdVhZgXdcXajYdZb'%%.![dgVbgZVa^oVYdhVa\jchYZhZc\Vg\VaVbZcidh
YZegdXZhhdh!eg^cX^eVabZciZZbbZiV^hZadjVhhVc^i{g^Vh!fjZeVhhVgVbVXdciVgXdbXVeVX^YVYZVY^X^dcVaYZ-Z*!
gZheZXi^kVbZciZ#6abYZhhVhZmeVchZh![dgVbVYfj^g^YdhbV^h.!)b^a]ZXiVgZhYZiZggVeVgV[VoZg[gZciZ|ZmeVchdYZ
XVeVX^YVYZZbeV^c^hYZB9;fjZhZg{XdcXajYVZb'%%.#(GRI 2.9)
8db Vegdm^bVYVbZciZ &&% b^a ]ZXiVgZh YZ dgZhiVh egeg^Vh! V 9jgViZm VijVabZciZ Vjid"hjX^ZciZ Zb bVYZ^gV# Cd
^ciZg^dgYd:hiVYdYZHdEVjad!VhgZhZgkVhYZAZc^hEVja^hiV!7dijXVij!>iVeZi^c^c\VZ6\jYdhhdXZgi^XVYVhXdbdhZad
kZgYZYV;dgZhiHiZlVgYh]^e8djcX^a;H8!dg\Vc^oVd^ciZgcVX^dcVafjZViZhiVdXdggZidbVcZ_ddgZhiVaYdedcidYZk^hiVYV
hjhiZciVW^a^YVYZ#6\ZhidYVh{gZVhdgZhiV^hYZ7dijXVijZdk^kZ^gdYZbjYVhYZibV^cYVVXZgi^XVd>HD&)#%%&!YZ\Zhid
VbW^ZciVa#
:b '%%,! V gZXZ^iV afj^YV hdbdj G &#+,%!+ b^a]Zh! d ajXgd afj^Yd Vi^c\^j G (&-!. b^a]Zh! d :7>I96 [d^ YZ
G**-!&b^a]Zh!Zfj^kVaZciZVjbVbVg\Zb:7I>96YZ((#CdZcXZggVbZcidYdVcd!dkVadgYZbZgXVYdYV8dbeVc]^VZgVYZ
G*!+W^a]Zh#(GRI 2.8)
B>HHD(GRI 4.8)
D[ZgZXZgegdYjidhZhZgk^dhYZVaiVeZg[dgbVcXZ!YZ[dgbVhZ\jgVZgZci{kZa!YZhZckdakZcYdVXVeVX^iVdZeVgXZg^Vh
XdbXa^ZciZh![dgcZXZYdgZh!Xdbjc^YVYZhZXdaVWdgVYdgZh!\ZgVcYdkVadgZbidYVVhjVXVYZ^VegdYji^kV#
K>HD(GRI 4.8)
HZgZbegZhVaYZgYZXaVhhZbjcY^Va!VijVcYdXdbgZhedchVW^a^YVYZhdX^VaZVbW^ZciVa!cdhhZ\bZcidhYZegdYjidhYZ
bVYZ^gV gZXdchi^ijYV Z YZ VXVWVbZcid eVgV Xdchigjd X^k^a! \ZgVcYd gZidgcd h^\c^XVi^kd Z eZgbVcZciZ Vdh VX^dc^hiVh Z
egdedgX^dcVcYdVdhXdaVWdgVYdgZh!Xa^ZciZh!Xdchjb^YdgZh![dgcZXZYdgZhZXdbjc^YVYZhdhZci^bZcidYZWZb"ZhiVg!hVi^h[Vd
ZgZVa^oVd#
K6ADG:H(GRI 4.8)
>ciZ\g^YVYZ/iZgXdbedgiVbZcidi^Xd!_jhid!igVcheVgZciZZXdZgZciZXdbdfjZhZeZchV![VaVZ[Vo#
KVadg^oVd ]jbVcV/ egdbdkZg XdcY^Zh eVgV d YZhZckdak^bZcid YVh XdbeZicX^Vh ^cY^k^YjV^h Z XdaZi^kVh Z [dgbVd
YZhjXZhhdgZh#
EVgi^X^eVd/XdbeVgi^a]VgkVadgZh!ZmeZg^cX^VhZ^Y^Vh!^cXZci^kVcYdVXddeZgVd!digVWVa]dZbZfj^eZZdgZheZ^id|Y^kZgh^YVYZ#
8dbegdbZi^bZcid/V\^gXdbeZgbVcZciZZcijh^Vhbd!gZZi^cYddhZci^bZcidYZdg\ja]deZaVbVgXVZZbijYdfjZhZ[Vo#
GZhedchVW^a^YVYZ hdX^Va Z VbW^ZciVa/ ^ciZgV\^g Xdb V Xdbjc^YVYZ Z d bZ^d VbW^ZciZ YZ [dgbV Zfj^a^WgVYV! Ved^VcYd!
Zhi^bjaVcYdZegdbdkZcYdegd\gVbVhhdX^V^h!dgZVegdkZ^iVbZcidYZgZXjghdhZdYZhZckdak^bZcidhjhiZci{kZa#
89><D9:8DC9JI6
EjWa^XVYdZb'%%,!XdbdeVgiZYZjbegdXZhhdXdbjbeVgVVhZbegZhVh>iVhV>cYjhig^Va!d8Y^\dYZwi^XVZ8dcYjiV
gZcZ dh eg^cXe^dh fjZ YZkZb dg^ZciVg Vh eg{i^XVh Yd Y^V"V"Y^V Z V hjhiZciVW^a^YVYZ Ydh cZ\X^dh# 9ZcZ Vh [dgbVh YZ
gZaVX^dcVbZcidXdbdheWa^Xdh^ciZgZhhVYdh!XdbdVX^dc^hiVh!Xa^ZciZh![dgcZXZYdgZh!edYZgeWa^XdZbY^V!ZcigZdjigdh!V
eVgi^gYZeVg}bZigdhi^Xdh!igVcheVgZciZhZYZVXdgYdXdbVhaZ^hk^\ZciZh#DYdXjbZcidZhiVWZaZXZjbVXdcYjiVWVhZVYV
cdhkVadgZhYV8dbeVc]^V#
EG>C8>E6>H>C9>869DG:H(GRI 2.8)
Expedies
BVYZ^gVZbb^ab
9ZXVZbb^a]VgZhYZeZVh
'%%(
'%%)
'%%*
'%%+
'%%,
86<G
.%*!+
&#%*%!-
&#%)%!)
&#'&-!*
&#(%,!+
.!+
&(#(&-
&(#,),
&'#-'*
&(#.-&
&*#)-.
(!.
.-.!+
&#&--!'
&#',%!+
&#)-.!'
&#+,%!+
&)!%
,..!)
.*%!+
&#%+*!,
&#'+*!+
&#),-!%
&+!+
&.%!'
'(,!+
'%)!.
''(!+
&.'!+
%!(
'('!'
('%!+
(+'!+
)*-!&
**-!&
')!*
+)!%
&'*!(
&(,!&
''+!%
(&-!.
).!)
%!*)
&!%+
&!&+
&!,-
'!)+
)*!)
+*-!(
,+&!&
-+*!(
&#%%&!*
&#&(+!+
&)!+
BVg\ZbWgjiV
(+!)
(.!&
)&!*
)(!'
)*!%
"
BVg\Zb:7>I96
'(!*
',!%
'-!*
(%!-
((!)
"
BVg\Zbafj^YV
+!*
&%!*
&%!-
&*!'
&.!&
"
GZidgcdhdWgZdEAGD:
,!%
&(!&
&(!*
&-!(
'&!-
"
GZidgcdhdWgZd8Ve^iVa>ckZhi^YdGD>8
-!&
&%!+
&'!(
&*!.
&-!+
"
&#++)!'
&#-%+!.
&#.)&!,
'#(,*!'
'#+(%!*
&'!&
KVadg6Y^X^dcVYd
Rentabilidade
Financeiro
6i^kdhidiV^hGb^a]d
EVig^bc^dafj^YdGb^a]d
.(+!+
..%!)
&#%*%!.
&#(.*!-
&#*(*!-
&(!'
:cY^k^YVbZcidGb^a]d
)*'!'
*&,!,
*.&!%
+&-!'
+,%!,
&%!)
(,!%
)%!.
((!+
(!&
%!*
"
9k^YVafj^YV$EA
9k^YVafj^YV$:7>I96kZoZh
>ckZhi^bZcidhGb^a]d
&!*&
&!'-
%!.-
%!&%
%!%&
"
&,'!-
&(+!-
&%-!)
&%*!)
'''!(
"
'*!,
*-!&
)+!)
,+!.
&*)!+
*+!+
Dividendos
9^k^YZcYdhWgjidhcVXdbeZicX^VGb^a]d
9^k^YZcYdhWgjidhXV^mVGb^a]d
9^k^YZcYd$ajXgdafj^YdeVn"dji
9^k^YZcY"n^ZaYXV^mV
')!)
'.!&
*'!,
*&!-
&).!&
'%!,
)%!%
)+!)
((!-
()!%
)-!*
"
)!%
)!+
(!+
'!-
(!*
"
&&,#-',!'
&&,#-',!'
&&,#-',!'
&'-#&'*!-
&'.#+.*!)
"
&!&
&!*
&!(
-!'
',!'
''(
*&!(
Mercado de Capitais
FjVci^YVYZYZVZhZb^i^YVhb^a]VgZh
CZ\dX^VdbY^VY^{g^VGb^a]d
EgZdYVVdVdcVaYdeZgdYdG
-!(%
&'!)%
&)!-*
((!'%
)(!*%
.,-!&
&#)+&!%
&#,).!,
)#'*(!'
*#+)&!,
**!%
-!%&
-!)&
-!.*
&%!.
&&!.%
&%!)
*#-'.
*#.*&
*#-.%
+#%,+
+#,-*
&))
&('
&).
&+&
&&)
EgdYji^k^YVYZGb^a$[jcX#9ZXV
&')!-
&)'!*
&*)!,
&+%!,
&+'!)
EgdYji^k^YVYZGb^a$[jcX#BVYZ^gV
'(.!*
'-(!+
(%+!(
(-'!+
(-)!,
KVadgYZbZgXVYdGb^a]d
KVadgeVig^bdc^VaYVVdVdcVaYdeZgdYdG
Operacionais
CbZgdYZZbegZ\VYdhY^gZidh
CbZgdYZiZgXZ^gdh
Sociais
>ckZhi^bZcidYZXjc]dhdX^VaGb^a]d
8daVWdgVYdgZhigZ^cVYdh
'!)
&!)
&!-
'!%
'!+
(-#-%-
)'#.)*
((#-.)
))#(*+
+&#&'&
,!(
+!&
.!)
&%!'
&(!+
)!'
+&!+
(!+
**!+
(!+
*)!+
(!%
**!+
(!'
*)!&
Ambientais
>ckZhi^bZcidYZXjc]dVbW^ZciVaGb^a]d
8dchjbdYZ{\jVBVYZ^gVb$b
8dchjbdYZ{\jV9ZXVa$eZV
HD7G:DG:A6IG>D
6eVgi^gYZhiZgZaVig^d!V9jgViZmeVhhVVVYZfjVgdhZjgZedgiZ|hY^gZig^oZhYV<adWVaGZedgi^c\>c^i^Vi^kZ<G>!bdYZadfjZZm^\Zjb\gVj
bc^bdYZ^c[dgbVZhVhZgZbegZhiVYVhYZ[dgbVeVYgdc^oVYVaZkVcYd"hZZbXdciVVheZXidhgZaVX^dcVYdh|hjhiZciVW^a^YVYZYVhdeZgVZh#
DYdXjbZcidVegZhZciV^cY^XVYdgZhfjZ[VoZbeVgiZYVkZghd<(!aVcVYVZbdjijWgdYZ'%%+ZXdcXZW^YVYZ[dgbVV[dgiVaZXZgdheg^cXe^dhZ
YZiVa]VgdhegdidXdadhiXc^XdheVgVdh^cY^XVYdgZhYZYZhZbeZc]d#6^c^X^Vi^kV[VoeVgiZYVZhigVi\^VYV:begZhV!fjZk^hV|\ZgVdYZkVadg
ZbidYVVXVYZ^VegdYji^kVYZbVcZ^gVhdX^VabZciZ_jhiV!ZXdcdb^XVbZciZk^{kZaZVbW^ZciVabZciZXdggZiV#
6h^c[dgbVZhgZ[ZgZb"hZVdVcdYZ'%%,#DX^XadYdhgZaVig^dhVcjVa!ZdbV^hgZXZciZ[d^ejWa^XVYdZbbV^dYZ'%%,#6YZc^dYd
XdciZYd[d^gZVa^oVYVZbegdXZhhdZmXajh^kVbZciZ^ciZgcd!aZkVcYd"hZZbXdciVVeZgXZedYV:begZhVhdWgZV^bedgi}cX^VYdhiZbVheVgV
dheWa^XdhXdbdhfjV^hhZgZaVX^dcV#<G>(#&!(#'!(#(Z(#*
Dh^cY^XVYdgZhhdX^V^hZVbW^ZciV^hhZgZ[ZgZbZmXajh^kVbZciZ|hdeZgVZhcd7gVh^a#6heg{i^XVhXdci{WZ^hZVhYZbdchigVZhcVcXZ^gVh
hZ\jZbVhcdgbVhVYdiVYVhcd7gVh^a7G<VVeZhdVjY^iVYVh!VdfjZcdhZZhiZcYZVdh^cY^XVYdgZhYZcVijgZoVhdX^VaZVbW^ZciVa#
9VYdhYd7VaVcdHdX^Va>WVhZYZ'%%+[dgVbgZk^hVYdhZZhid^cY^XVYdhcVhe{\^cVh+)Z+*#<G>(#+!(#,!(#-!(#.!(#&%Z(#&(
DZhXded!dha^b^iZhZdhbidYdhYZbZY^dYdh^cY^XVYdgZhcdhd[gZgVbVaiZgVZhh^\c^XVi^kVhZbgZaVdVdhVcdhVciZg^dgZh#D
egdXZhhdYZaZkVciVbZcidYZYVYdhiZkZVYjgVdYZVegdm^bVYVbZciZighbZhZhZZckdakZjegdhh^dcV^hYZk{g^Vh{gZVhYV:begZhV!fjZ
edhhj^jbXVcVaYZgZaVZhXdb^ckZhi^YdgZhZbhZjh^iZlll#YjgViZm#Xdb#Wg#<G>(#&&
8dciVidh eVgV ZhXaVgZX^bZcidh hdWgZ d XdciZYd YZhiV ejWa^XVd edYZb hZg [Z^idh Xdb V 9^gZidg^V YZ GZaVZh Xdb >ckZhi^YdgZh
iZaZ[dcZ &&"(&,.",',. Z Z"bV^a kecVcXZ^gV#XdgedgVi^kV5YjgViZm#Xdb#Wg dj Xdb V <ZgcX^V YV {gZV iZaZ[dcZ &&"(&,.",'*. Z Z"bV^a
^ckZhi^YdgZh5YjgViZm#Xdb#Wg#<G>(#)#
B6E:6B:CID9:HI6@:=DA9:GH
6 :begZhV edhhjV! Vd cVa YZ '%%,! &&#%'* VX^dc^hiVh! &%#.', Xa^ZciZh Vi^kdh! *#)+& [dgcZXZYdgZh! +#,-* XdaVWdgVYdgZh Y^gZidh! Vab YZ
&&) ZbegZ\VYdh YZ iZgXZ^gdh Z iZbedg{g^dh# Dh XdaVWdgVYdgZh hd gZegZhZciVYdh edg YZo h^cY^XVidh# Dh bjc^Xe^dh YZ Hd EVjad! 6\jYdh!
7dijXVij! >iVeZi^c^c\V! AZc^h EVja^hiV Z ?jcY^V! cd :hiVYd YZ Hd EVjad! Z Hd AZdedaYd! G^d <gVcYZ Yd Hja! hZ WZcZX^Vb Y^gZiVbZciZ
YVhVi^k^YVYZhYV:begZhV!VabYdh\dkZgcdhZhiVYjV^hZ[ZYZgVa!edg^ciZgbY^dYdgZXda]^bZcidYZ^bedhidh!iVmVhZXdcig^Wj^Zh!fjZ
idiVa^oVgVbG)+,!)b^a]ZhcdVcd#6:begZhViVbWbbVcibgZaVX^dcVbZcidXdbV\ZciZhcVcXZ^gdh!YZhiVXVcYd"hZVVijVdYd7VcXd
CVX^dcVaYZ9ZhZckdak^bZcid:Xdcb^XdZHdX^Va7C9:H!XgZYdgYZVegdm^bVYVbZciZ'+!*YdidiVaYZdWg^\VZh!XdbcVcX^VbZcidh
eg^cX^eVabZciZY^gZX^dcVYdh|ZmeVchdYZVi^k^YVYZh#
6h WVhZh eVgV d gZaVX^dcVbZcid Xdb ZhhZh hiV`Z]daYZgh hd YZc^YVh cd 8Y^\d YZ wi^XV Z 8dcYjiV YV :begZhV Z hd eVjiVYVh eZaV
igVcheVgcX^V!gZheZ^idZaZ\Va^YVYZ!YZcigZdjigdhegZXZ^idh#:hhZ8Y^\deWa^Xd!ZhiVcYdY^hedckZaeVgVXdchjaiVcdlZWh^iZYV8dbeVc]^V!
XdciZcYd! ^cXajh^kZ! ZheVd eVgV VXda]Zg ZkZcijV^h YZccX^Vh Vcc^bVh# 6 \Zhid YZhhZ 8Y^\d Zhi{ V XVg\d Yd 8db^i YZ G^hXdh Z wi^XV!
XdbedhidedgZmZXji^kdhYVhZbegZhVh>iVhV>cYjhig^Va9jgViZmH#6#!>iVjiZXH#6#Z:aZ`Z^gdoH#6##<G>)#&)Z)#&*
EG:B>6v:HCD6CD<G>'#&%
6hda^YZoZVedh^dgZaZkVciZcdbZgXVYdYV9jgViZm[dgVbgZXdc]ZX^YVhZb'%%,eZad>chi^ijid7gVh^aZ^gdYZ:Xdcdb^VYV;jcYVd<Zia^d
KVg\Vh>WgZ!fjZXdc[Zg^j|:begZhVdEgb^dYZ:mXZacX^V:begZhVg^Va#6Y^hi^cdXdch^YZgVYVVbV^h^bedgiVciZZcigZVhYZhi^cVYVh
|hhdX^ZYVYZhVcc^bVhcdEVhZgZhjaiVYZjbg^\dgdhdigVWVa]dYZVc{a^hZZVkVa^VdgZVa^oVYdedgZXdcdb^hiVhZVcVa^hiVhYV;jcYVd
<Zia^dKVg\Vh!gZXdc]ZX^YVZgZheZ^iVYVedghjV^hZcdZXgZY^W^a^YVYZ#69jgViZm[d^XVbeZcVXViZ\dg^VYZegdYjidhYZbVYZ^gV#
Cdegb^d6hBZa]dgZhYV9^c]Z^gd!gZVa^oVYdeZaVgZk^hiV>hidw9^c]Z^gd!V8dbeVc]^V[d^YZhiVfjZcdhZidgYZBViZg^VaYZ8dchigjdZ9ZXdgVd#
IdYdhdhVcdh!bV^hYZ*%%XdbeVc]^Vh!Xdb[VijgVbZcidVX^bVYZG*%b^a]Zh!hdVcVa^hVYVheZadXdb^iZY^idg^VaYVejWa^XVd#
Djigd^bedgiVciZegb^dgZXZW^YdcdVcd[d^dhZadYZfjVa^YVYZ^;EgdYjXi9Zh^\c6lVgY'%%,!Xdch^YZgVYddDhXVgYd9Zh^\c!cVXViZ\dg^V
=djhZ]daY#GZVa^oVYdcV6aZbVc]V!d>ciZgcVi^dcVa;dgjb9Zh^\cd[=VcdkZgYZhiVXdjVa^c]VYZbZiV^h8dciZbedg}cZV!YV9^k^hd9ZXV!eZad
YZh^\cXa{hh^XdZigVY^X^dcVaXdbidfjZhYZ^cdkVd#
G:A6IG>D6CJ6A'%%,
HJHI:CI67>A>969:
8DB8G>6vD9:K6ADG
B:CH6<:B9DEG:H>9:CI:
%)#
K6CI6<:CH8DBE:I>I>K6H
&'#
9>K>HDB69:>G6
9>K>HD9:86
<DK:GC6Cv68DGEDG6I>K6
%+#
6v:H8DBD>CK:HI>B:CID
()#
<:HID:HIG6Iw<>86:>CK:HI>B:CIDH
&%#
&)#
'%#
6CA>H:9DHG:HJAI69DH
6IJ6vD:HIG6Iw<>86
<:HID6B7>:CI6A
*-#
'-#
<:HID9:G>H8DH
(-#
<:HID9:E:HHD6H
)'#
*%#
76A6CvDHD8>6A6CJ6A'%%,
9:BDCHIG6v:H;>C6C8:>G6H
6C:MD#
+)#
HJBG>D<G>
++#
>C;DGB6v:H8DGEDG6I>K6H
,%#
8Gw9>IDH
,&#
afj^YdZkdaj^j)&!eVgVG(&-!.b^a]Zh!dfjZ
gZegZhZciVjbgZidgcdhdWgZdEVig^bc^dAfj^Yd
GD:YZ''!fjVigdedcidheZgXZcijV^hhjeZg^dg
VdYZ'%%+#
D YZhZbeZc]d gZXdgYZ YZkZj"hZ V [VidgZh
bVXgdZXdcb^Xdh Z! eg^cX^eVabZciZ! V deZh
Z ZhigVi\^Vh VYdiVYVh eZaV :begZhV Vd adc\d
YZ hjV igV_Zig^V# K^kZcX^Vbdh Zb '%%, V
igVch^d ZcigZ Yd^h X^Xadh YZ ^ckZhi^bZcid# Edg
B:CH6<:B9DEG:H>9:CI:<G>&#&
DVcdYZ'%%,[d^bVgXVYdedgk{g^dhgZXdgYZh
VbeVgVYdheZaV[dgiZYZbVcYVYZbZgXVYd!fjZ
eZgb^i^j V dXjeVd YZ fjVhZ V idiVa^YVYZ YZ
cdhhVXVeVX^YVYZ^chiVaVYV#
8dbd gZhjaiVYd! Zb gZaVd V '%%+! cdhhV
gZXZ^iV WgjiV Xdchda^YVYV XgZhXZj &(! Vi^c\^cYd
G'#''+!' b^a]Zh! Z V gZXZ^iV afj^YV VjbZcidj
&'! X]Z\VcYd V G &#+,%!+ b^a]Zh# D :7>I96
Zkdaj^j '' cd Vcd! eVgV G **-!& b^a]Zh!
Zfj^kVaZciZ V jbV bVg\Zb :7>I96 YZ ((
cd eZgdYd VciZ (& cd Vcd VciZg^dg# D ajXgd
E6JADH:I76AC:ID
EG:H>9:CI:
CdhhdZbeZc]dZbegdiZ\ZgdbZ^dVbW^ZciZ
?jcY^VHE#:bbZiV^hhVc^i{g^dh!d^cXgZbZcid
cZ\dX^VYVhZbWdahVYZkVadgZh#
YVegdYjdhZg{YZ((!XdbdVXghX^bdYZ)%%
b^aeZVhedgbh0ZbadjVh!hZg{YZ))!Xdb
djigdhZXdhh^hiZbVhZY^kZghdhi^edhYZVc^bV^h!
bV^h&)%b^aeZVhbZchV^h#
YVgZV;adgZhiVa!bdbZcidhZbfjZgZVk^kVbdh
^cX^d!Zb'%%,!VdegdXZhhdYZVYZhd|8]^XV\d
eg{i^XVhYZ\dkZgcVcVXdgedgVi^kV!YVhgZaVZh
kZobV^hVa^c]VYdh|hYZbVcYVhYdhXa^ZciZh0ZV
kVadgV\gZ\VYd#
gZV;adgZhiVaVi^c\^jdcY^XZYZ&%%YZeaVci^d
edYZg{hZgcZ\dX^VYdcZhhVWdahV#
YZbjYVhXadcV^h#
:b'%%,!Xg^Vbdhd8db^iYZHjhiZciVW^a^YVYZ
HdX^Va! 6bW^ZciVa Z 8jaijgVa Z d 8db^i YZ
CZ\dX^VdZ9^kja\VdYZ6idZ;VidGZaZkVciZ#
eVgXZ^gdhZcdhjXZhhdYZcdhhdhcZ\X^dhcdhaZkV
8dcYjiV!Xj_degdXZhhdYZY^hhZb^cVdZcXdcigV"
XdaVWdgVYdgZh!Xa^ZciZh![dgcZXZYdgZh!VX^dc^hiVhZ|
hdX^ZYVYZeZadVed^dZeZaVeVgXZg^VcZhhVZbegZ^iVYV
ZVYdiVbdhYjVhcdkVhedai^XVh/6bW^ZciVaZYZ
gjbd|Xg^VdYZkVadgXdbhjhiZciVW^a^YVYZ#
CZ\dX^VdYZKVadgZhBdW^a^{g^dh#
K>K:C8>6BDH:B'%%,JB6CD9:G:8DG9::BG:HJAI69DH:6IG6CH>vD:CIG:9D>H
8>8ADH9:>CK:HI>B:CID#D8JE6BDHEG6I>86B:CI:&%%9686E68>969:69FJ>G>96EDG
:ME6CH:HG:6A>O696H:CIG:&..,:'%%(:6CJC8>6BDHJB6CDK6;6H:9:8G:H8>B:CID#
6Iw'%%.!>CK:HI>G:BDH8:G869:G-*%B>A=:HC66BEA>6vD9:A>C=6H9:B69:>G6!
B:I6>H : ADJv6H H6C>IG>6H! CDH 86E68>I6C9D E6G6 6I:C9:G ;DGI: 9:B6C96 9:
B:G869D8DBEGD9JIDH>CDK69DG:H:9:B6>DGK6ADG6<G:<69D#
9JG6I:M#G:A6IG>D6CJ6A#
DVeZg[Z^dVbZcidYVheg{i^XVhYZ\dkZgcVcV
XdgedgVi^kVgZXdggZciZcVigV_Zig^VYV9jgViZm#
DVcdYZ'%%,iZkZXdbdbVgXVjb[dgiZVkVcd
cV{gZV!Xdb^c^X^Vi^kVhZbk{g^Vh^chi}cX^Vh#
9d^h
Xdb^ih
[dgVb
Xg^VYdh!
d
YZ
Dh
XdaVWdgVYdgZh!
Y^gZidgZh
Z
<DK:GC6Cv6
8DGEDG6I>K6
+#9JG6I:M#G:A6IG>D6CJ6A
8DCH:A=D9:69B>C>HIG6vD
egZh^YZciZYd8dchZa]dYZ6Yb^c^higVdYV>iVhV
VYb^c^higVYdgZhZVeVgi^X^eVdZbegd\gVbVYZ
>ckZhi^bZcidh>iVH#6#!egZh^YZciZYdBjhZjYZ
deZhYZVZhVigZaVYVhVbZiVhYZYZhZbeZc]d
6giZBdYZgcVYZHdEVjadB6BZYd>chi^ijid>iV
ZXdcb^Xd#<G>)#*
8jaijgVaZZbWV^mVYdgVYV7dVKdciVYZYVJcZhXd#
>CI:<G6CI:H9D8DCH:A=D
9:69B>C>HIG6vD
DaVkd :\nY^d HZiWVa EgZh^YZciZ Yd 8dchZa]d YZ
6Yb^c^higVd Z bZbWgd YZhYZ &.,,# ;dgbVYd Zb
:c\Zc]Vg^V eZaV :hXdaV Eda^iXc^XV YV Jc^kZgh^YVYZ
YZHdEVjadJHEZb&.)*#6Yb^c^higVVhZbegZhVh/
7VcXd >iV =daY^c\ H#6#! >iVhV >ckZhi^bZcidh >iV
H#6#! >iVjiZX H#6#! :aZ`Z^gdo H#6# Z ;jcYVd >iVhV
>cYjhig^Va# ;d^ b^c^higd YVh GZaVZh :miZg^dgZh!
egZ[Z^idYVX^YVYZYZHdEVjadZbZbWgdYd8dchZa]d
BdcZi{g^dCVX^dcVa!Yd8dchZa]dCVX^dcVaYZHZ\jgdh
Eg^kVYdhZYd>chi^ijidYZEZhfj^hVhIZXcda\^XVh#
AVZgiZ HZiWVa ;^a]d 8dchZa]Z^gd YZhYZ &.-%!
VijVabZciZ dXjeV d XVg\d YZ k^XZ"egZh^YZciZ Yd
8dchZa]d#;dgbVYdZb:c\Zc]Vg^VX^k^aeZaV:hXdaV
Eda^iXc^XVYVJc^kZgh^YVYZYZHdEVjadJHE!Zb
&.).#;d^VYb^c^higVYdgYV6hhdX^VdYZ8dbgX^d
:miZg^dg 7gVh^a 6:7! YV HdX^ZYVYZ 7gVh^aZ^gV YZ
H^ak^XjaijgVH7H!Yd>chi^ijidYZGVX^dcVa^oVdYd
IgVWVa]d>Ydgi!Yd>chi^ijidYZEZhfj^hVhZ:hijYdh
;adgZhiV^h>eZ[!YV;ZYZgVdYVh>cYhig^VhYZHd
EVjad ;^Zhe! HX}c^V Yd 7gVh^a H#6#! K^YgVg^V HVciV
BVg^cV! H^ZbZch H#6#! A^dc :begZZcY^bZcidh!
HVbWgVH#6#!8ViZge^aaVgYd7gVh^aZ:iZgc^iH#6#
BVg^V YZ AdjgYZh :\nY^d K^aaZaV K^XZ"egZh^YZciZ
;jcYVYdgVZegZh^YZciZYV6hhdX^Vd8dbjc^i{g^V
9ZheZgiVgZ;VVEVgiZ>chi^ijid7gVh^aKdajci{g^d
ZYd8ZcigdYdKdajciVg^VYdYZHdEVjad#
EVjad HZiWVa CZid 8dchZa]Z^gd YZhYZ &..%# w
K^XZ"egZh^YZciZ Yd 8dchZa]d YZ 6Yb^c^higVd Z
egZh^YZciZYV9jgViZmH#6#!>iVjiZXH#6#!:aZ`Z^gdoH#6#
Z ;jcYVd >iVhV >cYjhig^Va Z VYb^c^higVYdg YV
>iVhV >ckZhi^bZcidh >iV H#6# w k^XZ"egZh^YZciZ
YV;ZYZgVdYVh>cYhig^VhYd:hiVYdYZHdEVjad
;^ZheZYV6hhdX^Vd7gVh^aZ^gVYVh8dbeVc]^Vh
YZ8Ve^iVa6WZgid6WgVhXV#6ijVXdbdXdchZa]Z^gd
Yd LdgaY 8]^aY]ddY ;djcYVi^dc! Yd >chi^ijid YZ
:c\Zc]Vg^V Z Yd BjhZj YZ 6giZ BdYZgcV B6B#
:c\Zc]Z^gd![dgbVYdeZaV;VXjaYVYZYZ:c\Zc]Vg^V
>cYjhig^Va;:>!Zb&.,&!XdbbZhigVYdZb;^cVcVh
eZaV;jcYVd<Zia^dKVg\Vh;<K!Zb&.,)#
6a[gZYd :\nY^d 6ggjYV K^aaZaV ;^a]d 8dchZa]Z^gd
YZhYZ&..+#:c\Zc]Z^gdbZX}c^Xd![dgbVYdeZad>chi^ijid
BVj{YZIZXcdad\^V!Zb&..'!Xdbeh"\gVYjVdZb
6Yb^c^higVdYZ:begZhVheZaV;jcYVd<Zia^d
KVg\Vh# 6ijVabZciZ! iVbWb VYb^c^higVYdg YVh
ZbegZhVh/ >iVhV >ckZhi^bZcidh >iV H#6#! 7VcXd
>iV=daY^c\;^cVcXZ^gVH#6#Z>iVjiZXH#6#
?V^gG^WZ^gdYVH^akVCZid8dchZa]Z^gdYZhYZ'%%+#
6Ykd\VYd! [dgbVYd Zb 9^gZ^id eZaV Jc^kZgh^YVYZ
YZ Hd EVjad! Zb :Xdcdb^V eZaV ;VVe Z Xdb
9JG6I:M#G:A6IG>D6CJ6A#
bZhigVYdZb9^gZ^ideZaVJc^kZgh^YVYZYV8Va^[gc^V
8DCH:A=D;>H86A
7Zg`ZaZn#:begZh{g^d!egZh^YZciZYV8EB7g{m^h
Z[jcYVYdgYd7VcXdEVig^bc^d!VabYZedhhj^g
eZaV
Vi^k^YVYZhcdgVbdYZXdbgX^dZmiZg^dg!I>!XjaijgV
ZZYjXVd#:mZgXZjVi^k^YVYZZmZXji^kVcd7VcXd
6hhZbWa^V<ZgVaYV8dbeVc]^V#:b'%%,![dgVb
>iVhV:begZZcY^bZcidh#
8]VhZBVc]ViiVc!cd7gVh^aZZbCdkVNdg`#
VX^dc^hiVhb^cdg^i{g^dh#
9>G:IDG>6
GZhedch{kZa eZaV \Zhid Ydh cZ\X^dh Z
ZmZXjd YVh YZa^WZgVZh Yd 8dchZa]d YZ
6Yb^c^higVd! ZgV ^ciZ\gVYV Zb '%%, edg
jb egZh^YZciZ! igh k^XZ"egZh^YZciZh! Yd^h
Y^gZidgZh"ZmZXji^kdh Z hZ^h Y^gZidgZh"\ZgZciZh#
6 Y^gZidg^V gZcZ"hZ jbV kZo edg hZbVcV Z!
ZmigVdgY^cVg^VbZciZ!hZbegZfjZcZXZhh{g^d#
BVX`Zco^Z#
6ijVabZciZ!
6ijVabZciZ!iVbWbVYb^c^higVYdgYV;jcYVd
>iVhV >cYjhig^Va Z YV 6hhdX^Vd 7gVh^aZ^gV
YVh 8dbeVc]^Vh 6WZgiVh 6WgVhXV Z Y^gZidg YZ
GZaVZhXdb>ckZhi^YdgZhYV9jgViZmH#6#
GVja EZciZVYd K^XZ"egZh^YZciZ ZmZXji^kd#
6Ykd\VYd![dgbVYdeZaVJc^kZgh^YVYZBVX`Zco^Z#
6ijVabZciZ!
iVbWb
VYb^c^higVYdg
YV
>iVjiZXH#6#ZYV;jcYVd>iVhV>cYjhig^Va#
:cg^fjZ ?jYVh BVcjWZch 9^gZidg"ZmZXji^kd#
>CI:<G6CI:H969>G:IDG>6
:c\Zc]Z^gdbZX}c^XdYZegdYjd![dgbVYdeZaV
wk^XZ"egZh^YZciZYd8dchZa]dYZ6Yb^c^higVdZ
&.,'!ZVYb^c^higVYdgYZZbegZhVh[dgbVYdeZaV
YV;ZYZgVd7gVh^aZ^gVYZ7VcXdh!YV6hhdX^Vd
7gVh^aZ^gVYVh:begZhVhYZAZVh^c\Z^ciZ\gdjd
H#6#Z;jcYVd>iVhV>cYjhig^VaZVYb^c^higVYdg
8dchZa]dYdA^WgV7Vc`AiY#AdcYgZh#
egZh^YZciZYV;ZYZgVdYVh>cYhig^VhYd:hiVYd
AVb^cVYdhYZ6aiVGZh^hicX^V6W^eaVg#
YVh8dbeVc]^VhYZ8Ve^iVa6WZgid6WgVhXV#6ijV
Xdbd8dchZa]Z^gdYdLdgaY8]^aY]ddY;djcYVi^dc!
>chi^ijidYZ:c\Zc]Vg^VZBjhZjYZ6giZBdYZgcV
HjeZg^dgYZ6\g^XjaijgVAj^oYZFjZ^gdo:hVaf$JHE
HZ\jgdh<gVa]V6oja!7Zb\ZHZ\jgVYdgV!EVgVc{
8^V#YZHZ\jgdhZ<gVa]V6ojaH#6#
YZ:begZhVheZaV;VXjaYVYZ6cX]^ZiV#
KVg\Vh;<K!Zb&.,)#
;dgbVYdZb8^cX^Vh8dci{WZ^hZ6Yb^c^higVd
YZ:begZhVheZaV;VXjaYVYZBVX]VYdHdWg^c]d!
9ZoZbWgdYZ'%%,
EVgi^X^eVdVX^dc{g^V
EC
DC EC
>I6H6
-!%
)&!(
;JC9DH9:E:CHD
&%!&
*!-
>CK:HI>9DG:H:HIG6C<:>GDH
)(!.
'-!,
DJIGDH
(,!'
'(!-
%!-
%!)
&%%!%
&%%!%
I:HDJG6G>6
IDI6A
-#9JG6I:M#G:A6IG>D6CJ6A
8DB>IH<G>)#)
G:A6v:H8DB>CK:HI>9DG:H
bZhbV^chi^ij^d#6ijVabZciZ!iVbWbY^gZidg
YV6hhdX^Vd7gVh^aZ^gVYVh>cYhig^VhYZEV^c^h
:b
'%%,!
[dgVb
gZVa^oVYVh
fjVigd
YZBVYZ^gV6W^eV#
VabYZgZjc^Zh^cY^k^YjV^hZZb\gjedZk^h^iVh|h
[{Wg^XVhVi^c\^cYdjbeWa^XdVegdm^bVYdYZ&!)b^a
dgZhiVa![dgbVYdeZaVJc^kZgh^YVYZYZK^dhV!Zb
VcVa^hiVhZ^ckZhi^YdgZh#Dh^iZYV:begZhV!XdbkZghZh
&.-)!XdbbZhigVYdZb:Xdcdb^VZEaVcZ_VbZcid
Zb^c\ahZZbedgij\jh!iZkZ()+b^aVXZhhdh!'*
YjgVciZ'%%,!ZVeg^bdgdjhZj8Y^\dYZwi^XVZYZ
bV^hfjZcdVcdVciZg^dg#9ZcigZdXdciZYdY^hedckZa
:heZX^Va^oVYdZb<Zhid:higVi\^XVYZCZ\X^dh
8dcYjiV!Zb[VhZYZ^beaVciVdZbhjVhjc^YVYZh#
cV>ciZgcZi!YZhiVXVb"hZVhViVhYZVhhZbWa^VhZYZ
YZ
Zb9^gZ^ideZaVEdci^[X^VJc^kZgh^YVYZ8Via^XVYZ
ZVgfj^kdhXdciZcYddhbViZg^V^hYZY^kja\VdYdh
HdEVjadEJ8HE!Zb&.-'!XdbZheZX^Va^oVd
gZhjaiVYdhig^bZhigV^h!VXdbeVc]VYdheZad{jY^dYV
gZheZXi^kViZaZXdc[ZgcX^V#
Jc^kZgh^i{g^V8:J!Zb&..)#6ijVabZciZ!iVbWb
Y^gZidgYV6hhdX^VdYdh;jcYdhYZEZchdYZ
:begZhVhEg^kVYVh6eZe#
gZhedch{kZaeZaVYZc^dZZbegZ\dYVEdai^XV
YZ9^kja\Vd#
DjigV
eZaV;jcYVd<Zia^dKVg\Vh!Zb&..)#
bZY^YV
YZ
VeZg[Z^dVbZcid
KVcoda^c^$JHE#
>cYjhig^Va/>ciZa^\cX^V8dgedgVi^kV!G^hXdhZwi^XV!
ZbegZhVh![dgbVYdeZaV;jcYVd6gbVcYdakVgZh
EZciZVYd;VVe!Xdbeh"\gVYjVdZb;^cVcVh
8dbdVhZfj^eZhhd[dgbVYVhedgZmZXji^kdhYZ
eZaVJc^kZgh^YVYZYZHdEVjadJHE#
djigVh^cYhig^VhYd<gjed>iVhV!VVijVdYdh
6J9>IDG>6:MI:GC6
6 ^cYZeZcYcX^V V WVhZ YV gZaVd YV
9jgViZmXdbVVjY^idg^VZmiZgcV!gZVa^oVYVYZhYZ
'%%) eZaV Eg^XZlViZg]djhZ8ddeZgh# Eg^cXe^dh
^ciZgcVX^dcVabZciZ VXZ^idh [jcYVbZciVb V
edai^XVYZVijVdYV8dbeVc]^V!fjZYZcZfjZ
d VjY^idg cd YZkZ VkVa^Vg hZj egeg^d igVWVa]d!
cd YZkZ ZmZgXZg [jcZh \ZgZcX^V^h cd Xa^ZciZ
cZb egdbdkZg hZjh ^ciZgZhhZh# :b '%%, cd
[dgVb XdcigViVYdh YV :begZhV hZgk^dh cd"
gZaVX^dcVYdh|VjY^idg^VZmiZgcV#
:HIGJIJG668>DCG>6
Xdb^iheZgb^iZbV^dgh^cZg\^V!Y^hhZb^cVdYZ
bZX}c^Xd![dgbVYdeZaV;VXjaYVYZYZ:c\Zc]Vg^V
G.)(!+b^a]Zh!didiVaYZVZhZb^i^YVhZgVYZ
>cYjhig^Va
YZkVadgVdhVX^dc^hiVh#
&'.!,b^a]Zh!hZcYd*(!+b^a]ZhVZhdgY^c{g^Vh
;:>!
Xdb
eh\gVYjVd
Zb
Z,+!&b^a]ZhegZ[ZgZcX^V^h#
E6G">ckZhi^bZcidhZbVi^kdh
ZbGb^a]Zh
'''!(
&,'!-
&(+!-
<:HID
:HIG6Iw<>86:
>CK:HI>B:CIDH
%(
%)
&%-!)
&%*!)
%*
%+
%,
DH>CK:HI>B:CIDH:B6I>KDHE:GB6C:CI:HIDI6A>O6G6BG'''!(B>A=:H:B'%%,!
BDCI6CI:&&%68>B66D9D6CD6CI:G>DG!EG:E6G6C9D6:BEG:H6E6G66I:C9:G
6D8G:H8>B:CID969:B6C96EDGH:JHEGD9JIDH#6Iw'%%.!H:G6EA>869DDIDI6A
9:G-*%B>A=:HC6HJC>969:HEGD9JI>K6H!8DCI:BEA6C9DJB6CDK6A>C=69:
E6>Cw>H9:B9;!66FJ>H>vD9:I:GG6H:6:ME6CHD9:86E68>969:9:G:K:HI>B:CID
:B76>M6EG:HHD!B:I6>H:ADJv6HH6C>IG>6H#
&%#9JG6I:M#G:A6IG>D6CJ6A
>CK:HI>B:CIDH
^ckZhi^bZcidh#:b'%%,[d^YZc^YVVZbegZhVfjZ
[dgcZXZg{ZVea^XVg{dH^hiZbV>ciZ\gVYdYZ<Zhid!
VjbZcidYZ&&%ZbgZaVdV'%%+!fjVcYd[dgVb
eVgVXdc[Zg^gbV^hV\^a^YVYZZhZ\jgVcVcVZmZXjd
^cX^dYZjbcdkdX^XadYZZmeVchdYVXVeVX^YVYZ
h^hiZbVH6E!Xj_degdXZhhdYZ^beaVciVdZhi{Zb
XdbeZi^d_{fjZdWdbbdbZcidZXdcb^Xd
XjghdZYZkZhZgcVa^oVYdZb'%%.#
eZgheZXi^kVhYZVjbZcidYZYZbVcYVYZbZgXVYd!
:XdZX^cX^V/DhXj^YVYdhXdbdbZ^dVbW^ZciZ
hdegZdXjeVZhXZcigV^hYV:begZhV!fjZ^ckZhiZ
Xdbegd_ZZhYZjbXZc{g^dZXdcb^Xdedh^i^kd
cdhegm^bdhVcdh#
ZbiZXcdad\^VheVgVgZYjo^gdXdchjbdYZZcZg\^V!
Veg^bdgVgdcY^XZYZgZVegdkZ^iVbZcidYZbViZg^V^h
ZegdYjo^gdb{m^bdXdbdbc^bdYZgZXjghdh#6
gZV;adgZhiVa^ckZhiZeZadbZcdhG&!*b^a]dVd
VcdZbVeZg[Z^dVbZcid\Zci^Xd!cdkdhbViZg^V^hZ
djigVhVZh!fjZaZkVbhjVheaVciVZhVdWiZgZb
jbYdhbZa]dgZhcY^XZhYZegdYji^k^YVYZYdhZidg#
iZcYcX^Vh^ciZgcVX^dcV^h#69^k^hd9ZXVbVciZkZ
hjV[dgiZVijVdcdhhZ\bZcidhYZajmdZVaidajmd
Vcd!ZcfjVcidZhi^bV"hZfjZXdcXdggZciZhYdhZidg
YZeV^c^hXda]Vb(-ZZbegZhVhcdgiZ"VbZg^XVcVh
XdhijbVbVi^c\^gVbY^VYZ&'#
bV^hVXZhhkZaZ YZh^\cbV^hVijVa!XdbddXVhd
YVa^c]VBVmYZbZiV^hhVc^i{g^dh#
eVgV
gZYjo^g
dh
bZiV^hZb((ZVYZadjVhhVc^i{g^VhZb))#
Xjhidh
FjVa^YVYZ/IdYdhdhegdYjidh9jgViZmhZ\jZb
dgZhiVhegeg^VhgZcdk{kZ^hadXVa^oVYVhegm^bVh
XgZY^W^a^YVYZYVhbVgXVhZcigZdhXa^ZciZh#
egdXZhhdYZ^beaVciVd#
IZXcdad\^V/DeVgfjZegdYji^kdYV9jgViZmXdciV
Y^gZX^dcVYVhVdgZVegdkZ^iVbZcidYZ^chjbdhcdh
cdVfjZX^bZcidYZXVaYZ^gVhVjm^a^VbcVgZYjd
ZcigZ'%%,Z'%%.!fjVcYdZhiVg{XdcXajYVbV^h
YZXjhidhZcdjhdYZ^chjbdhcd"gZcdk{kZ^h#
ZhhV[VhZYZZmeVchd#
9JG6I:M#G:A6IG>D6CJ6A#
&&
76>MD8JHID
6a^YZgVcVcdhhZidgZhYZeV^c^hYZbVYZ^gV
Z bZiV^h hVc^i{g^dh edhh^W^a^iV ZXdcdb^Vh YZ
ZhXVaVY^X^abZciZgZea^XVYVhZbdjigVhZbegZhVh
Yd hZidg# 6ab YZ WZcZX^Vg"hZ YZhhV edh^d
YZ YZhiVfjZ eVgV egdYjo^g bV^h Xdb bZcdgZh
Xjhidh! iVbWb XdchZ\jZ Zcg^fjZXZg hZj b^m YZ
K6CI6<:CH
8DBE:I>I>K6H
kZcYVhXdbdYZhZckdak^bZcidYZcdkdhegdYjidh
Z eVYgZh# :b '%%,! [dgVb aVcVYdh -% eVYgZh
Z VXZhhg^dh cV 9^k^hd BVYZ^gV! ,+ egdYjidh Zb
bZiV^hhVc^i{g^dhZ&%cdkVhadjVh!cdk^YVYZhfjZ
k^ZgVbVjbZciVgdVbeadZY^kZgh^XVYdedgi[a^d#
6EDH>vD9:9:HI6FJ:969JG6I:M:BH:JHB:G869DH9:6IJ6vDwG:;DGv696
EDG 9>;:G:C8>6>H 8DBE:I>I>KDH :B G:A6vD 8DC8DGGC8>6# HD 6I>KDH >CI6C<K:>H
FJ: 6HH:<JG6B K6CI6<:CH C6 8DCHIGJvD 9: H:JH G:HJAI69DH! 8DBD D 76>MD
8JHID G:EG:H:CI69D E:A6H :8DCDB>6H 9: :H86A6! D 8DBEDHID B:G869DA<>8D! 6
A>9:G6Cv6 9: B:G869D! 6 HDA>9:O ;>C6C8:>G6 EGDEDG8>DC696 E:A6 :HIGJIJG6 9:
86E>I6A:JB6<:HID:ME:G>:CI:!9>G:8>DC6968G>6vD9:K6ADG#
&'#9JG6I:M#G:A6IG>D6CJ6A
EDH>8>DC6B:CID8DBE:I>I>KD
BV9Z;^WgV!BVYZeVc!BVYZeaVXZ6XgedaZ!Vab
ZcigZdjigVh!hdiVbWbgZ\^higVYVhcdZmiZg^dg#
idYVVbVYZ^gVjhVYVeZaV9jgViZmZVadXVa^oVd
hda^Y^XVghjVhbVgXVh#:b'%%,!jbVXVbeVc]V
afj^YVG,!.b^a]ZhcdZcXZggVbZcidYZ'%%,#
:hhVZhigjijgVYZXVe^iVaeZgb^iZd^ckZhi^bZcid
bY^VYZ&)%fj^abZigdh!cV:begZhVhd**#
[dgiVaZXZjVgZaVdZcigZdhegdYjidhYZbVYZ^gV
:hhVXVgVXiZghi^XVeZgb^iZZXdcdb^VcVad\hi^XV/
Zdg^cdXZgdciZ!Xdbhad\VchXdbd9jgViZm#Ha^YV!
dXjhidbY^dYd[gZiZYVbVYZ^gVXdbXVhXVedg
Xdc{kZaZXdbegdbZi^YVXdbkdX#Dg^cdXZgdciZ
jbVgZaVdYZXdcVcVfjZ[VkdgZXZdVXZhhdV
XdcXdggcX^V\VhiZJH.!*%cVbZhbVdeZgVd#
jbVY^kZgh^XVYV[dciZYZcVcX^VbZcid#
ZbXdbeVgVd|hdjigVh^cYhig^VhYdhZidg#Hd
)'bZigdhXW^Xdhedg]ZXiVgZVdVcd!ZVbY^V
YVhdjigVhZbegZhVhYZ(-#
8DBEDHIDB:G869DA<>8D
Dh egdYjidh YV 9jgViZm hd ^YZVa^oVYdh Z
egd_ZiVYdh eVgV ViZcYZg | YZbVcYV Ydh k{g^dh
hZ\bZcidhYZXdchjbd!hZcYdaYZgcdhbZgXVYdh
hjeZg^dgZh! eg^cX^eVabZciZ Xdb V bVgXV 9ZXV#
:b '%%,! d hZj aZfjZ YZ egdYjidh [d^ Vbea^VYd
XdbaVcVbZcidhYZhZckdak^YdheVgVeWa^XdhYZ
bZcdgedYZgVfj^h^i^kd!dWiZcYdjbVgZXZei^k^YVYZ
hjgegZZcYZciZ!VX^bVYVhZmeZXiVi^kVh#
6 :begZhV YZib d gZ\^higd YZ fjVhZ &+(
bVgXVh cd >chi^ijid CVX^dcVa YV Egdeg^ZYVYZ
>cYjhig^Va >CE># 6h bV^h gZXdc]ZX^YVh! Xdbd
9ZXV! =nYgV! 9jgVddg! 9jgVigZZ! 9jgVeaVX!
<:HID
6 ^Y^V YZ Xdci^cj^YVYZ fjZ eZgbZ^V \gVcYZ
eVgiZ YVh VZh YV 8dbeVc]^V hZ YZkZ! Zb
eVgiZ! | ZmeZg^cX^V YZ hZjh VYb^c^higVYdgZh#
HZj Xdc]ZX^bZcid hdWgZ d bZgXVYd! V WV^mV
gdiVi^k^YVYZ cdh XVg\dh Z d Xdbegdb^hhd Xdb d
XgZhX^bZcid gZhjaiVb Zb jbV VYb^c^higVd
hZ\jgV Z ZX^ZciZ# 6 ZhigjijgV YZ \dkZgcVcV
XdgedgVi^kV! fjZ eg^k^aZ\^V V igVcheVgcX^V Z
WVa^oVYV eZaVh bZa]dgZh eg{i^XVh Yd bZgXVYd!
djigdedcidVY^[ZgZcX^VgVVijVdYV9jgViZm#
9JG6I:M#G:A6IG>D6CJ6A#
&(
DKDAJB:9:K:C96H8G:H8:J,:B'%%,!E6G6&#(%,!+B>AB:IGDH
87>8DH!8DB6D8JE6vD9:EG6I>86B:CI:ID96686E68>969:
>CHI6A696 96H JC>969:H >C9JHIG>6>H# D 9:H:BE:C=D ;D>
>BEJAH>DC69DE:ADA6Cv6B:CID9:-%E69G:H:68:HHG>DH!
E:A6H:<B:CI6vD8DB:G8>6A:E:A66BEA>6vD96EG:H:Cv6
9:E6>Cw>HC6HH:v:H9:8DO>C=6:BK:>H9::H8G>IG>D#
9>K>HDB69:>G6
9JG6I:M#G:A6IG>D6CJ6A#
&*
:meZY^d
ZbbZigdhXW^Xdh
egdYjidgZhYZeV^c^hYZbVYZ^gVgZXdchi^ijYV#D
bZgXVYdXdchjb^YdgXdciVXdbVegdm^bVYVbZciZ
'%%+
'%%,
KVg^Vd
HiVcYVgY
-**#-**
--.#,-,
)
ZbegZhVh[Vb^a^VgZhZYZeZfjZcdZbY^dedgiZ#6
GZkZhi^Ydh
(+'#+*.
)&,#-++
&*
^cYhig^VbdkZaZ^gVYZZmigZbVgZaZk}cX^VeVgVV
IdiVa
&#'&-#*&)
&#(%,#+*(
,
9^k^hdBVYZ^gV!ed^hXdchdbZVegdm^bVYVbZciZ
+%YdkdajbZYZeV^c^hZmeZY^YdhcdbZgXVYd
^ciZgcd# D hZidg YV Xdchigjd X^k^a \Vc]V
GZXZ^iVafj^YV
Zbb^a]ZhYZgZV^h
'%%+
'%%,
BZgXVYd^ciZgcd
-'*!+
.*&!.
&*
BZgXVYdZmiZgcd
&,-!-
&*'!+
"&*
&#%%)!)
&#&%)!*
&%
IdiVa
KVg^Vd
^ciZgcd#6Y^k^hdji^a^odjegVi^XVbZciZidYVVhjV
XVeVX^YVYZ ^chiVaVYV YjgVciZ d Vcd! ZmeZY^cYd
&#(%,!+ b^a bZigdh XW^Xdh! , bV^h Yd fjZ cd
ZmZgXX^d VciZg^dg# D :7>I96 XgZhXZj &+! eVgV
G)&%!% b^a]Zh! Xdb bVg\Zb YZ (, XdcigV
(*cdVcdVciZg^dg#
8db fjVigd jc^YVYZh ^cYjhig^V^h cd :hiVYd
YZHdEVjadZb6\jYdh!7dijXVij!>iVeZi^c^c\V
Z ?jcY^V! egdYjo eV^c^h YZ WgV YZ bY^V
BVYZ^gVkZcYVhbZgXVYd^ciZgcd
G:<>D
H:<B:CID
HjYZhiZ
*+!,
>cYhig^VbdkZaZ^gV
*.!&
Hja
((!-
GZkZcYV
',!%
CdgYZhiZ
*!-
8dchigjdX^k^a
8Zcigd"DZhiZ
(!(
KZcYVhiXc^XVh
)!%
CdgiZ
%!)
Djigdh
(!,
&%%!%
+!'
&%%!%
YVbVgXV9jgVddg!X]VeVhYZWgVZeV^c^hYZ
V\adbZgVYdB9E#HjVXVeVX^YVYZ^chiVaVYV!YZ
&!*b^a]dYZbZigdhXW^XdhVcjV^h!XdggZhedcYZ
VVegdm^bVYVbZciZjbiZgdYdidiVaWgVh^aZ^gd!d
fjZa]Z\VgVciZVa^YZgVcVYdhZidg#
&!(b^a]dYZb
;D> :ME:9>9D :B '%%,! KDAJB: , B6>DG FJ: D 9: '%%+! 9:K>9D 6D 6JB:CID 96
9:B6C96>CI:GC696>C9HIG>6BDK:A:>G6#
&+#9JG6I:M#G:A6IG>D6CJ6A
:7>I96ZbGb^a]ZhZBVg\Zb:7>I96
BVg\Zb:7>I96
8jhidZbGb^a]ZhZBVg\Zb7gjiV
BVg\Zb7gjiV
(,!&
(*!(
)*!.
(&!+
(&!&
),!&
)'!(
)%!.
',!&
)&%!%
(,!%
*'.!+
)-,!&
(*)!)
)'*!-
)(.!*
(,+!*
'**!*
'+,!&
&,,!,
%(
%)
%*
%+
%,
%(
%)
%*
%+
%,
9JG6I:M#G:A6IG>D6CJ6A#
&,
EgdYji^k^YVYZ9^k^hdBVYZ^gV
9Zhi^cdYVh:medgiVZh
,-eVhZh
EgdYjdb($XdaVWdgVYdg
GZXZ^iVAfj^YVGb^a$XdaVWdgVYdg
*%*!-
)%*!)
(-'!+
).&!)
(-)!,
:J6#(+!)
:jgdeV#'+!%
(.(!%
GZhiVciZYVh
6bg^XVh#&.!'
(+*!'-(!+
(%+!(
'(.!*
Djigdh#&-!)
%(
%)
&-#9JG6I:M#G:A6IG>D6CJ6A
%*
%+
%,
8dbedh^dYZXjhidhBVYZ^gV
egdYjidedgbZ^dYZjbVgZbdYZaVd\ZgVaYdh
eVYgZh9jgVddg#:bkZoYVVciZg^dghZeVgVdedg
XViZ\dg^VYZjhd=dbZ!EgdZEgZb^jb!VeVgi^g
8]VeVYZWgV
B9E
B9;$=9;$H9;
YZ'%%,!VhZ\bZciVdeVhhdjVhZg[Z^iVYZVXdgYd
Bd"YZ"dWgV
'(!'
&&!%
.!&
XdbVa^c]V#6hh^bhjg\^gVbVha^c]Vh=dbZ!HijY^d!
BVYZ^gV
'-!)
'*!%
')!%
9Zh^\c!K^ciV\Z!CVijgZZEgZb^jb!fjZhdbVb)(
BVig^Vh"eg^bVhZdjigdhbViZg^V^h
'+!-
*%!)
*%!*
eVYgZhZighiZmijgVh#
:cZg\^VZaig^XV
.!.
*!+
-!)
6gZbdYZaVdYdhegdYjidh[d^XdbeaZbZciVYV
8dbWjhikZ^h
-!,
'!+
&!+
9ZegZX^Vd
(!%
*!)
+!)
B:G869D:MI:GCD
eZaV9jgViZmeVgVdeZgdYdZcigZ'%%,Z'%%.#6
9jgVddg![dgVb^ciZch^XVYVhVhVZhYZkZcYVZb
cdkVa^c]VYZB9;iZg{XVeVX^YVYZeVgVegdYjo^g
]dbZXZciZgh!ad_VhZheZX^Va^oVYVhZXdchigjidgVh#
,hjeZg^dgVdYZ'%%+!iZcYdVhZmedgiVZhYZ
-%%b^abZigdhXW^XdhVdVcd!jbVXghX^bdYZ
X]VeVhYZWgVgZegZhZciVYd.&YZhhZidiVa#
K6ADG6<G:<69D
JbYdheg^cX^eV^h^c\gZY^ZciZhYVV\gZ\Vd
YZkVadgVVedhiVcVfjVa^YVYZZVkVg^VYVa^c]V
YZ egdYjidh Xg^VYdh eVgV V\gVYVg Vdh Y^[ZgZciZh
hZ\bZcidhYZXdchjbd#:b'%%,!jbVXVbeVc]V
YZkVadg^oVdYVbVgXV[d^XdadXVYVZbVd!hdW
dhad\VcBVYZ^gVcdijYd^\jVa#EgdXjgZdG^cd!
YZhiVXVcYdVfjVa^YVYZ!VhZ\jgVcVZV\VgVci^V
YdhegdYjidh#
>CK:HI>B:CIDH
6 cdkV [{Wg^XV YZ 6\jYdh! V hZg ^cVj\jgVYV
Zb '%%.! d eg^cX^eVa egd_Zid Yd eaVcd YZ
>CDK6vD
EGB>DH<G>'#&%
:cigZ dh gZXdc]ZX^bZcidh gZXZW^Ydh eZaV
9^k^hd BVYZ^gV! YZhiVXVb"hZ d Egb^d E^c^!
eZaV hZmiV kZo XdchZXji^kV! Xdb *'!++ Ydh
kdidh! Z d egb^d Ide BVgXVh! eZaV iZgXZ^gV kZo
XdchZXji^kV! VbWdh cV XViZ\dg^V e^hd aVb^cVYd#
GZaZkVciZ iVbWb [d^ d Egb^d YV :mXZacX^V
:begZhVg^Va! egdbdk^Yd eZad >chi^ijid 7gVh^aZ^gd
YZ :Xdcdb^V >WgZ YV ;jcYVd <Zia^d KVg\Vh
9VcYdhZfcX^VVZhigVi\^VYZZcg^fjZX^bZcidYd
;<K!XdbdbZa]dgZbegZhVYdhZidgYZegdYjidh
XdbedhidYZkZcYV![dgVbaVcVYdhYjgVciZdVcd-%
YZbVYZ^gV#9ZcigZdhXg^ig^dhYZegZb^VdZhi{
eVYgZhZVXZhhg^dhYZVXVWVbZcid#CdhZ\bZcid
dYZhZbeZc]dZXdcb^Xd"cVcXZ^gd#
)&%!%b^a]Zh
G
;D>D:7>I96969>K>HDB69:>G6:B'%%,!DFJ:G:EG:H:CI668GwH8>BD9:&+:B
G:A6vD6DK6ADGG:<>HIG69DCD6CD6CI:G>DG#
9JG6I:M#G:A6IG>D6CJ6A#
&.
9>K>HD9:86
'%#9JG6I:M#G:A6IG>D6CJ6A
9JG6I:M#G:A6IG>D6CJ6A#
'&
9^hig^Wj^dYVhKZcYVhcdBZgXVYd>ciZgcd
GZ\^d
9^hig^Wj^dYVhKZcYVhcdBZgXVYd>ciZgcd
8VcV^h
HjYZhiZ#+'!&
GZkZcYV#**!%
Hja#&)!+
8dchigjdX^k^a#&-!*
CdgYZhiZ#&'!%
=dbZXZciZg#&,!'
8Zcigd"DZhiZ#-!*
CdgiZ#'!-
6iVXVY^hiV#,!'
Djigdh#'!'
9:86 8DBEA:IDJ +% 6CDH 9: EG:H:Cv6 CD B:G869D 8DB D A6Cv6B:CID 9: ,+
EGD9JIDH :B B:I6>H H6C>IG>DH : &% :B ADJv6H! E6G6 9>;:G:CI:H H:<B:CIDH 9:
8DCHJBD# 6 B6G86 =N9G6 8DB:BDGDJ DH ,* 6CDH 8DB FJ6IGD CDK6H K:GH:H 96
KAKJA6FJ:wA9:G9:B:G869D!6A>6C9D7:A:O6:HIwI>86::8DCDB>69:<J6#
''#9JG6I:M#G:A6IG>D6CJ6A
8dbedh^dYZXjhidh
XdbdbZa]dgYZhZbeZc]dYZhjV]^hig^V/ZmeZY^j
&*#)-.b^aeZVh!gZegZhZciVcYdVjbZcidYZ&&Zb
BZiV^h
AdjVh
BVig^Vh"eg^bVhZdjigdhbViZg^V^h
*.!'
)&!%
Bd"YZ"dWgV
(&!)
))!*
9ZegZX^Vd
*!,
&%!(
:cZg\^VZaig^XV
(!(
)!'
VjbZcidYdhegVodhYZcVcX^VbZcid!cVgZYjdYV
8dbWjhikZ^h
%!)
.!'
gZaVdVdVcdVciZg^dg#DVfjZX^bZcidYdbZgXVYd
^bdW^a^{g^d!bdk^bZcid^c^X^VYdZb'%%*![d^jbYdh
iVmVYZ_jgdhZcVXVe^iVa^oVdZb7dahVYZKVadgZh
YZ ZbegZhVh Yd hZidg# IgViV"hZ YZ jbV Xdc_jcijgV
EgdYji^k^YVYZ9^k^hd9ZXV
EgdYjdeZVh$XdaVWdgVYdg
]VW^iVX^dcVaZm^hiZciZcdEVh#
GZXZ^iVAfj^YVGb^a$XdaVWdgVYdg
*#'-(
*#&%,
)#-+)
^cYhig^VYZbViZg^VaYZXdchigjd!fjZXgZhXZj&*!),
)#*-,
)#*-%
&+%!,
&+'!)
ZbXdbeVgVdV'%%+!hZ\jcYdV6hhdX^Vd7gVh^aZ^gV
YV>cYhig^VYZBViZg^V^hYZ8dchigjd6WgVbVi#D
:7>I96Zkdaj^j)(!Vi^c\^cYdG&)-!&b^a]Zh!Xdb
bVg\Zb:7>I96YZ'+'&cdVcdVciZg^dg#
:hhZ gZhjaiVYd gZZiZ V bZa]dgV Yd Xdbedhid
&*)!,
YZkZcYVh!jbVkZofjZdhegdYjidhYZVXVWVbZcid
&)'!*
VegZhZciVgVbjbXgZhX^bZcidcdkdajbZZmeZY^YdYZ''#
6hZmedgiVZhZkdajgVb+!Vi^c\^cYdJH&%!)b^a]Zh!
XdbYZhiVfjZeVgVVhkZcYVhZmiZgcVhYZadjVhhVc^i{g^Vh!
fjZhdbVgVbJH,!+b^a]Zh#
&')!%(
%)
%*
%+
%,
8dbfjVigdjc^YVYZh^cYjhig^V^hcdEVhBZiV^h
HdEVjad!cV8Ve^iVa!BZiV^h?jcY^V!8Zg}b^XV?jcY^V
Z8Zg}b^XVHdAZdedaYd!VabYV9ZXVE^VooV!cV
6g\Zci^cV ! V 9^k^hd 9ZXV iZb jbV XVeVX^YVYZ
^chiVaVYV YZ egdYjd YZ &-!' b^a]Zh YZ eZVh#
:hhZhegdYjidhhdXdbZgX^Va^oVYdhXdbVhbVgXVh
=nYgV!eVgVk{akjaVhYZYZhXVg\V!Z9ZXV!eVgVbZiV^h
ZadjVhhVc^i{g^VhZgZheZXi^kdhVXZhhg^dh#
9JG6I:M#G:A6IG>D6CJ6A#
'(
:7>I96ZbGb^a]ZhZBVg\Zb:7>I96
BVg\Zb:7>I96
8jhidZbGb^a]ZhZBVg\Zb7gjiV
BVg\Zb7gjiV
'+!'
)&!%
'(!(
(.!+
'&!)
&+!)
&,!&
(,!+
&)-!&
(*!%
(%-!.
(*!&
'-&!,
''-!*
''+!+
%)
%*
&%(!,
.*!*
&.,!.
+*!'
*)!+
%(
%)
%*
')#9JG6I:M#G:A6IG>D6CJ6A
%+
%,
%(
%+
%,
GZhiVciZYVh6bg^XVh#+%!*
:J6#&-!*
Djigdh#&*!.
:jgdeV#*!&
9Zhi^cdYVhZmedgiVZh
&*!*b^a]Zh
9:E:v6H;DG6B:ME:9>9DH:B'%%,#DKDAJB:!&&B6>DGFJ:D9D6CD6CI:G>DG!
G:;A:I:D8G:H8>B:CID968DCHIGJvD8>K>A#
9JG6I:M#G:A6IG>D6CJ6A#
'*
9:HI6FJ:H9D6CD
XdbdhViVXVY^hiVh!Xg^VcYdZhigVi\^VhYZkZcYV
Vhh^hicX^ViXc^XV!fjZ]d_ZXdciVXdb&&%edcidh
eVgVdWdbYZhZbeZc]dYV:begZhV#EZVhXdb
edjXVVXZ^iVdhVgVbYZXVi{ad\d!XZYZcYdZheVdV
egdYjidhYZYZh^\cXdciZbedg}cZd!^cXajh^kZY^g^\^Ydh
VdhZ\bZcidXdbeZi^i^kd#CZhhVhjWY^k^hd!Va\jbVh
a^c]VhX]Z\VgVbVkZcYZg&%%b^aeZVhVdbhad\d
VehdaVcVbZcid!kdajbZhjeZg^dg|XVeVX^YVYZ
idiVaYZegdYjdYZVa\jchXdcXdggZciZh#
igZ^cVbZcidYV[dgVYZkZcYVZYZ[dgbVYdgZhYZ
de^c^d#:b'%%,![dgVbd[ZgZX^YVh'+!*]dgVhYZ
:begZhV!_{fjZd^cZY^i^hbdYdhegdYjidhZm^\Z
igZ^cVbZcidedgXdaVWdgVYdg#
egdhh^dcV^hVeidhVbVc^eja{"adh#
>CK:HI>B:CIDH
>CDK6vD
'+#9JG6I:M#G:A6IG>D6CJ6A
:b'%%,!V9^k^hd9ZXVXdadXdjcdbZgXVYd
VZmeVchdeZgb^i^g{VegdYjdYZbV^h)%%b^a
eZVhedgbhVijVabZciZhd&!'b^a]d!dfjZ
\gVcYZediZcX^VaYZXgZhX^bZcidcZhhZhZ\bZcid
eZVhVdbh!XgZhX^bZcidYZ))#
YZVaidXdchjbd#
CdcVaYZ'%%,!V:begZhVZmedgiVkVeVgV)%
kZghZhfjZVa^VbVWZaZoVZhii^XVZVZXdcdb^V
kZcYV#9ZhhZh!'%%ZhidadXVa^oVYdhcdh:hiVYdh
YZ{\jVXdbdY^[ZgZcX^VaYZegZhZgkVdYdbZ^d
9ZXV#9jgVciZdVcd!k{g^dhegd_Zidhi^kZgVbXdbd
dW_Zi^kdXdcfj^hiVgXVYVkZobV^hdhZ\bZcidYZ
Vaidajmd!VeZg[Z^dVgZgbVgV^bV\ZbYVbVgXV
cdeVh#;d^gZVa^oVYVjbVgZVYZfjVdcVa^c]VYZ
YZh^\c^che^gVYdcdhVcdhYZ&.(%!iVbWba^b^iV
XaZVcZhdhi^XVYd!XdbVeZcVh&%b^abZigdhYZ
XdchigjidgVhZVgfj^iZidh[dgVb^cXZci^kVYVh#
ZheZhhjgVcVXV^mVZighcdWdid#
:MEDGI6vD
6VedhiVZbegdYjidhYZbV^dgkVadgV\gZ\VYd
V eg^cX^eVa ZhigVi\^V YV 9ZXV cd bZgXVYd
ZmiZgcd!i{i^XVfjZhZgZZiZcVhkZcYVhgZVa^oVYVh
Zb'%%,#:bgZaVdV'%%+!dXdggZjjbVjbZcid
YZ&)cdcbZgdYZeZVhYZbZiVaZmedgiVYVh!
Vi^c\^cYdJH&%!)b^a]ZhYZ[VijgVbZcid#
bV^h\gVcY^dhdh!XdbdV@^iX]ZcVcY7Vi]!bV^h
VYZfjVYVVdeZgdYdZbfjZZhiVkVZcigVcYdcd
bZgXVYd! V :begZhV ejakZg^odj hjV eVgi^X^eVd
Zb k{g^Vh ^c^X^Vi^kVh! Xdb d ^cij^id YZ VjbZciVg
EGB>DH<G>'#&%
6ab Yd ^; EgdYjXi 9Zh^\c 6lVgY! gZXZW^Yd
eZaV a^c]V 8dciZbedg}cZV YZ bZiV^h hVc^i{g^dh! V
9^k^hd9ZXVdWiZkZdjigVh^bedgiVciZhY^hi^cZh#
<Vc]djZbighXViZ\dg^Vhcd&+Egb^d6cVbVXd/
BZiV^h
HVc^i{g^dh
:Xdcdb^oVYdgZh!
BZiV^h
HVc^i{g^dhZH^hiZbVhYZ9ZhXVg\V#DhkZcXZYdgZh
[dgVbZaZ^idhedgjbVeZhfj^hVgZVa^oVYVXdb&#)('
ad_^hiVhYZidYddEVh#
6 :begZhV iVbWb \Vc]dj d Egb^d E^c^!
fjZ gZhjaiV YZ jbV ZcfjZiZ gZhedcY^YV edg &!-
b^aaZ^idgZhYVhejWa^XVZhYVZY^idgVYZbZhbd
cdbZ! Xdb *+!)% YV egZ[ZgcX^V cV XViZ\dg^V
BZiV^hHVc^i{g^dhZ++!*)ZbAdjVhHVc^i{g^Vh#
:dBZgXVYd9Zh^\cIde'&"egZb^djVk{akjaV9jd#
&)-!&b^a]Zh
G
;D> D :7>I96 96 9>K>HD 9:86# :HH: K6ADG G:EG:H:CI6 JB 6JB:CID 9: )(
:BG:A6vD6D6CD6CI:G>DG#
9JG6I:M#G:A6IG>D6CJ6A#
',
6CA>H:
9DHG:HJAI69DH
'-#9JG6I:M#G:A6IG>D6CJ6A
8:CG>DB68GD:8DCB>8D
G:8:>I6
DVcdYZ'%%,[d^bVgXVYdeZadWdbYZhZbeZc]d
6hh^b!
:7>I96
Vi^c\^j
G'#''+!'b^a]Zh!dfjZgZegZhZciVZkdajdYZ
&(ZbgZaVdV'%%+#6hZmedgiVZhZkdajgVb
hjeZg^dgVdYZ'%%+#6bVg\Zb:7>I96idiVa^odj
6
*!)YdE>7#DhhZidgZhYZVijVdYV9jgViZm
bViZg^V^hYZVXVWVbZcideVgVVXdchigjdX^k^aZ
YZ'%%+#
gZXZ^iV
V
gZXZ^iV
afj^YV
WgjiV
Xdchda^YVYV
idiVa^odj
^cYhig^VbdkZaZ^gV[dgVbVaiVbZciZ[VkdgZX^Ydh
DajXgdafj^YdVegZhZcidjZmegZhh^kVbZa]dgV
YZ)&!iZcYdidiVa^oVYdG(&-!.b^a]ZhcdVcd!
YV:begZhV#
dfjZgZegZhZciVjbgZidgcdhdWgZdEVig^bc^d
G:HJAI69DH
DgZhjaiVYdYV9jgViZmVegZhZciVYdZb'%%,
[d^ d bZa]dg YZ hjV ]^hig^V# 6 Xdc_jcd Yd
Wdb bdbZcid k^k^Yd eZaV ZXdcdb^V WgVh^aZ^gV Z
V bVijgVd Ydh ^ckZhi^bZcidh Z[ZijVYdh eZaV
:begZhV Vd adc\d Ydh ai^bdh Vcdh eZgb^i^j
ZhhZYZhZbeZc]d#
Afj^YdGD:YZ''VciZ&-cdVcdVciZg^dg#
8JHIDH9DHEGD9JIDHK:C9>9DH
D Xjhid Ydh egdYjidh kZcY^Ydh hdbdj
G.&-!-b^]Zh! kVadg . hjeZg^dg |fjZaZ YZ
'%%+# :hiZ ^cXgZbZcid hZ YZkZ! eg^cX^eVabZciZ!
Vd VjbZcid Ydh Xjhidh kVg^{kZ^h! Zfj^kVaZciZh V
+% Yd Xjhid idiVa! Zb YZXdggcX^V Yd VjbZcid
YVhZmeZY^Zh#
:b gZaVd | gZXZ^iV afj^YV! ]djkZ Y^aj^d
YdhXjhidh!fjZeVhhVgVbVgZegZhZciVg**YVh
gZXZ^iVh VciZ *, Zb '%%+! d fjZ Zfj^kVaZ V jb
^cXgZbZcid cV bVg\Zb WgjiV YZ )( eVgV )*
AJ8GDAFJ>9D
DajXgdafj^YdVegZhZcidjZmegZhh^kVbZa]dgV!
YZ)&!iZcYdidiVa^oVYdG(&-!.b^a]ZhcdVcd!
dfjZgZegZhZciVjbgZidgcdhdWgZdEVig^bc^d
Afj^YdGD:YZ''VciZ&-Zb'%%+#
:C9>K>96B:CID
6d cVa YZ '%%,! V 9jgViZm VegZhZciVkV jbV
Yk^YV afj^YV XdggZhedcYZciZ V G,!.b^a]Zh!
Zfj^kVaZciZ V %!* Yd EVig^bc^d Afj^Yd Z %!%&
kZoYd:7>I96#:bgVodYdeaVcdYZ^ckZhi^bZcid
fjZ hZ ZcXdcigV Zb VcYVbZcid! d ckZa YZ
ZcY^k^YVbZcid YZkZ VjbZciVg Vd adc\d YZ '%%-#
6eVgiZbV^hgZaZkVciZYdhcdkdhcVcX^VbZcidh
k^g{Yd7C9:H#
<:G6vD:9>HIG>7J>vD9:G>FJ:O6:8&
D kVadg VY^X^dcVYd YZ '%%, idiVa^odj
Zb'%%,#
9:HE:H6HDE:G68>DC6>H
6h
^cXgZbZcidYVhkZcYVh#
YZheZhVh
deZgVX^dcV^h
idiVa^oVgVb
G',+!)b^a]ZhZbXdbeVgVdVG'+)!*b^a]Zh
Zb '%%+! d fjZ gZegZhZciV jb VjbZcid YZ )
bV^h jbV kZo ]djkZ Y^aj^d YVh YZheZhVh
Zb gZaVd | gZXZ^iV afj^YV! ^bejah^dcVcYd Vh
bVg\ZchdeZgVX^dcV^h#
GZXZ^iVAfj^YV#ZbGb^a]Zh
:cY^k^YVbZcid#ZbGb^a]Zh
:cY^k^YVbZcidGb^a]Zh
9k^YVAfj^YV$EA
)%!.
(,!%
((!+
+,%!,
&#+,%!+
+&-!'
&#)-.!'
*.&
*&,!,
&#',%!+
&#&--!'
)*'!'
.-.!+
(!&
%!*
%(
%)
%*
%+
%,
''
%(
%)
%*
%+
%,
;D>DG:IDGCDHD7G:DE6IG>BC>DAFJ>9DGD:!6CI:&-6D6CD6CI:G>DG#
(%#9JG6I:M#G:A6IG>D6CJ6A
9ZbdchigVdYdkVadgVY^X^dcVYdXdchda^YVYd:8&
GZXZ^iVh
Egdk#8gY^idA^fj^YVd9jk^YdhV
>chjbdh6Yfj^g^YdhIZgXZ^gdh
'%%(
'%%)
'%%*
'%%+
'%%,
&#'*)!,
&#*-%!+
&#,%+!)
&#.+*!'
'#''+!'
*!,
%!,
)!'
+!*
(!-
).*!*
+)+!,
++(!'
,,,!.
--(!-
KVadg6Y^X^dcVYd7gjid
,*(!*
.()!+
&#%(.!%
&#&-%!-
&#((-!,
9ZegZX^Vd$6bdgi^oVd$:mVjhid
*-!*
,'!(
-(!-
-'!'
-+!%
(!,
(!*
(!(
(!'
(!(
,/."-
.,+".
/+.",
'$'&'".
'$(++"/
)%!)
&%)!,
.(!'
&%%!(
&&.!(
9ZegZX^Vd7ZchGZVkVa^VYdh
KVadg6Y^X^dcVYdAfj^Yd
GZX#9Zhe#DeZgVX^dcV^hZCd"deZgVX^dcV^h
KVadg6Y^X^dcVYdV9^hig^Wj^g
+*-!(
,+&!&
-+*!)
&#%%&!*
&#&(+!+
GZbjcZgVdYdIgVWVa]d
&.,!%
'&-!%
')%!(
'+&!&
'-,!,
GZbjcZgVdYd<dkZgcd
'**!+
('+!&
(+&!+
)&*!%
)+,!)
'*!,
*-!&
)+!)
,+!.
&*)!+
&)&!*
.&!&
&'+!%
..!)
+'!'
(-!*
+,!-
.&!&
&).!&
&+)!,
GZbjcZgVdYdh6X^dc^hiVh
GZbjcZgVdYZ;^cVcX^VbZcidh
IgVch[ZgcX^VeVgVGZhZgkV
9JG6I:M#G:A6IG>D6CJ6A#
(&
>bedhidhZ8dcig^Wj^Zh#)&!&
HVa{g^dhZ:cXVg\dh#'*!(
GZ^ckZhi^bZcidYZAjXgdh#&)!*
?jgdhhdWgZd8Ve^iVaEgeg^d#&(!+
?jgdhhdWgZ;^cVcX^VbZcidh#*!*
&!&W^a]d
G
;D>DIDI6A9DK6ADG69>8>DC69DCDE:GD9D!:FJ>K6A:CI:6JB>C8G:B:CID9:
&(:BG:A6vD6'%%+#
('#9JG6I:M#G:A6IG>D6CJ6A
**-!&b^a]Zh
G
;D>D:7>I96G:<>HIG69D:B'%%,!:KDAJvD9:'':BG:A6vD6D6CD6CI:G>DG!
8DBB6G<:B:7>I96:FJ>K6A:CI:6((#
9JG6I:M#G:A6IG>D6CJ6A#
((
6v:H8DBD
>CK:HI>B:CID
>C8G:B:CID 9: A>FJ>9:O! 8DB Bw9>6 9>G>6 9: KDAJB: C:<D8>69D IGH K:O:H
68>B6 6D 9D 6CD 6CI:G>DG! 6HH:<JGDJ D >C<G:HHD 96H 6v:H 96 9JG6I:M CDH
B6>H >BEDGI6CI:H C9>8:H 9: G:;:GC8>6 9D B:G869D 68>DCG>D 7G6H>A:>GD! D
>7DK:HE6:D>7GM"*%#DKDAJB:;>C6C8:>GDC:<D8>69DIDI6A>ODJG+!+7>A=:H!8DB
Bw9>69>G>69:G'+!'B>A=:H#CD:C8:GG6B:CID9D6CD!DK6ADG9:B:G869D
96:BEG:H66I>C<>JG*!+7>A=:H!:B8DBE6G6vD6DHG)!'7>A=:HK:G>;>869DH
CD;>C6A9:'%%+#
()#9JG6I:M#G:A6IG>D6CJ6A
6hVZhegZ[ZgZcX^V^hYV9jgViZm!cZ\dX^VYVh
bZgXVYd|k^hiV!ZckdakZcYdbV^hYZ&(-b^a]Zh
YZG+!+W^a]Zh#6bY^VY^{g^VYZcZ\dX^VZh
bZgXVYdadXVa!YZXdggcX^VYZhhZ^cXgZbZcidYZ
kVadg^oVdYd>WdkZheVhZg^VYZ')#
a^fj^YZo#DkVadgYZbZgXVYdYV:begZhVcdcVa
YZ'%%,ZgVYZG*!+W^a]Zh!((!(hjeZg^dgVdh
G)!'W^a]ZhkZg^XVYdhcdcVaYZ'%%+#
CZ\dX^VdYVh6ZhEgZ[ZgZcX^V^h
CZ\dX^VdYVh6ZhEgZ[ZgZcX^V^h
'%%+
'%%,
KVg^Vd
8diVdYZ[ZX]VbZcidG
((!'%
)(!*%
(&
KdajbZcZ\dX^VYdZbbY^V$bhGb^a]d
'#%&+
+#*..
'',!(
**!.
&*'!)
&,'!+
CYZcZ\X^dhbY^V$bhGb^a
9JG6I:M#G:A6IG>D6CJ6A#
(*
G:BJC:G6vD9DH68>DC>HI6H
9JG6)
KdajbZ;^cVcXZ^gd
Gb^a]d
FjVci^YVYZhYZCZ\X^dh
KdajbZ;^cVcXZ^gdBY^d
9^{g^dGb^a]d
&..,
&%'
'#(+.
%!)
&..-
*&
&#(+,
%!'
&...
+-
&#',-
%!(
'%%%
&'&
'#,(&
%!*
'%%&
--
'#&+(
%!(
'%%'
&%%
'#&+.
%!)
'%%(
',)
)#+-+
&!&
'%%)
(-'
(#.,,
&!*
'%%*
()%
+#,.,
&!(
afj^YdYdeZgdYd#
'%%+
'#%&+
**#.%(
-!'
'%%,
+#*..
&*'#)%*
',!'
&*)!+b^a]Zh
G
;D> 6 G:BJC:G6vD 9DH 68>DC>HI6H C6 ;DGB6 9: 9>K>9:C9DH : ?JGDH HD7G: D
86E>I6AEGEG>D#
(+#9JG6I:M#G:A6IG>D6CJ6A
9^hig^Wj^dcVXdbeZicX^VY^k^YZcYdZ?E8ZbGb^a]Zh
EVn"dji
'%%(
'*!,
)%!%
'%%)
*-!&
)+!*
'%%*
)+!(
((!-
'%%+
,+!.
()!%
'%%,
&*)!+
)-!*
9^k^YZcYd$?8EcVXdbeZicX^V
9^k^YZcYdZmigVdgY^c{g^d
&*)!+
*%!%
&%)!+
,+!.
*-!&
&*!(
'*!,
%(
)+!(
)'!-
%)
%*
%+
%,
9JG6)M>WdkZheV*Vcdh
KVadg^oVdYZ9JG6)2,(,Z>WdkZheV2)+,
9jgViZm
>WdkZheV
&#'%%
&#%%%
-%%
+%%
)%%
'%%
%
YZo$%' bVg$%( _jc$%( hZi$%( YZo$%( bVg$%) _jc$%) hZi$%) YZo$%) bVg$%* _jc$%* hZi$%* YZo$%* bVg$%+ _jc$%+ hZi$%+ YZo$%+ bVg$%, _jc$%, hZi$%, YZo$%,
9JG6I:M#G:A6IG>D6CJ6A#
(,
<:HID
9:G>H8DH
(-#9JG6I:M#G:A6IG>D6CJ6A
;>C6C8:>GDH
deZgVZh!Zhi{hj_Z^iVVjbVhg^ZYZg^hXdh!dh
DWV^mdckZaYZZcY^k^YVbZcid!fjZVegZhZciVkV
gZaVdYZ%!%&kZoZcigZYk^YVafj^YVZ:7>I96Vd
edhhkZa^beVXidhdWgZdhZjYZhZbeZc]d#
cVaYZ'%%,!ZVWdV\ZgVdYZXV^mVeZgb^iZb
Y^hig^Wj^dZVhh^hicX^ViXc^XVZdhegd\gVbVh
YZigZ^cVbZcidYZgZkZcYZYdgZhZjhj{g^dh#
:hhZhg^hXdhhdhZ\bZciVYdhXdbdYZbZgXVYd!
deZgVX^dcVa!cVcXZ^gd!XgY^id!iZXcdad\^V!Xjhid
Ydh^chjbdh!^bV\ZbZgZejiVd#6hZ\j^g!hd
WgZkZbZciZ YZhXg^idh iV^h g^hXdh Z Vh bZY^YVh
^ciZgcVhVYdiVYVheVgVb^i^\{"adh#
B:G869D
DE:G68>DC6>H
6:begZhV[VojhdYZjbXdch^hiZciZeVXdiZ
YZ [ZggVbZciVh Z egd\gVbVh eVgV b^c^b^oVg dh
g^hXdhdeZgVX^dcV^h!fjZhd^cZgZciZh|Vi^k^YVYZ
^cYjhig^Va#6bVcjiZcdegZkZci^kVYZb{fj^cVh
ZZfj^eVbZcidh!XdbVcYVYVeZadhbV^hbdYZgcdh
bVXgdZXdcb^XVh^cY^XVbXgZhX^bZcidYdE>7cV
dgYZbYZ)!+cdVcd#
hZ\jgdhXdbY^[ZgZciZhXdWZgijgVh!XdbdVbeaV!
9Zk^Yd|\gVcYZZmiZchdYZiZggVhZdgZhiVh
Vaidajmd#
YZiZXdYZ[dXdhYZ[d\d#Dh^hiZbVYZk^\^a}cX^V
XdciZbeaVidggZhYZdWhZgkVdZeVigja]VbZcid
gZXdggZciZ|h{gZVh#
8Gw9>ID
8JHID9DH>CHJBDH
>B6<:B:G:EJI6vD
DhegZdhYZbVig^Vh"eg^bVh!XdbdgZh^cVh!
eVe^h!i^ciVhZbZiV^h!jhVYVheZaV9^k^hd9ZXV
ZeZaV9^k^hdBVYZ^gVZhidhj_Z^idhVjijVZh
cdhbZgXVYdh^ciZgcVX^dcV^h#6eZhVgYZcdXdciVg
egdYjidhhdiZhiVYdh^cY^k^YjVabZciZZhZ\jZb
ZbegZhVhYZhZjhZ\bZcid!dfjZcdegZ_jY^XVg^V
9^k^hdBVYZ^gV!'!*b^a#DcY^XZYZ^cVY^beacX^V
hjVedh^dZbgZaVd|XdcXdggcX^V#6Vfj^h^d
Zb(&YZYZoZbWgdYZ'%%,!bZY^YdeZadkdajbZ
YZZcZg\^V[Z^iVedgbZ^dYZXdcigVidhYZXjgid
VbW^ZciVa!V:begZhV[d^!Zb&..*!Veg^bZ^gVcV
hZcYdhj_Z^iVVdegZdk^\ZciZcdbdbZcid#
egdXZhhdYZVYZhd|8]^XV\d8a^bViZ:mX]Vc\Z!
VZhXVWkZ^h!YZX^Y^YVhcd}bW^idYZhhZXdb^i#
iZggVhZcdVeZg[Z^dVbZcid\Zci^XdYVhbjYVh
egdYji^k^YVYZ!dbV^dgYZhjV^cYhig^V#:b'%%,!
[dgVbeaVciVYdh&%b^a]ZXiVgZh!ZbXdbeVgVd
:begZhVhZ\jZdEg^cXe^dYVEgZXVjd!hZ\jcYd
V-b^aZb'%%+#
dfjVacdYZkZbhZgVY^VYVhbZY^YVhZXVoZhZ
I:8CDAD<>6
6 ^cdkVd iZXcda\^XV eVgiZ ^bedgiVciZ
YV ZhigVi\^V YV :begZhV! fjZ ^ckZhiZ YZ
[dgbV XdchiVciZ Z ^ciZchV cV eZhfj^hV Z cd
YZhZckdak^bZcid YZ egdYjidh# 6 a^YZgVcV YZ
bZgXVYd cdh eg^cX^eV^h hZ\bZcidh YZ VijVd
eZgb^iZ gZciVW^a^oVd Y^[ZgZcX^VYV Z \Vc]dh
YZ ZhXVaV# 8dbd Vh iZXcdad\^Vh Y^hedckZ^h cd
bjYVbXdchiVciZbZciZ!dg^hXdYZdWhdaZhXcX^V
WV^md#
&%b^a]ZXiVgZh
9:;ADG:HI6H;DG6BEA6CI69DH:B'%%,E6G6HJEG>G6HC:8:HH>969:H9:B69:>G6
96HJC>969:H>C9JHIG>6>H#
)%#9JG6I:M#G:A6IG>D6CJ6A
&%!.b^aXa^ZciZh
9JG6I:M#G:A6IG>D6CJ6A#
)&
<:HID9:
E:HHD6H
)'#9JG6I:M#G:A6IG>D6CJ6A
8daVWdgVYdgZhedgXdcigVidYZigVWVa]dB7'
:BEG:<D
'%%*
'%%+
'%%,
7gVh^a
,$'(&
,$)''
-$&&/
;jcX^dc{g^dh
*#-.%
+#%,+
+#,-*
:hiViji{g^dh
&'
&&
&'
:hiV\^{g^dh
+.
+(
.-
IZgXZ^gdh
&).
&+&
&&)
:miZg^dg
&,&
&.-
&.-
,(
&,&
&-)
"
"
"
;jcX^dc{g^dh
:hiViji{g^dh
:hiV\^{g^dh
IZgXZ^gdh
"
"
.-
''
&)
:b(&YZYZoZbWgdYZ'%%,!V9jgViZmbVci^c]V
+#,-* XdaVWdgVYdgZh egeg^dh cd 7gVh^a Z &-) cd
9^hig^Wj^dYZ[jcX^dc{g^dhedg
gZ\^dB7'
Xdch^YZgVcYdVbY^VVcjVaYZ+#),.[jcX^dc{g^dh#
7gVh^a
IVmVhYZgdiVi^k^YVYZB7(
Hja
dXjeVd^cYjhig^Va!YZXdggZciZhYdWdbbdbZcid
HjYZhiZ
+#(&&
ZXdcb^XdZYVhZmeVchZhegZk^hiVh#
:miZg^dg
&.-
6g\Zci^cV
&--
6bg^XVYdCdgiZ
:jgdeV
IdiVa
+#..(
IjgcdkZg
<cZgd
=dbZch
&(!)
Bja]ZgZh
&!&
;V^mVZi{g^V
6i'%Vcdh
'!'
9Z'&V'*
*!%
9Z'+V(%
(!%
9Z(&V(*
&!+
9Z(+V)%
%!.
9Z)&V)*
%!,
9Z)+V*%
%!)
9Z*&V**
%!(
6X^bVYZ*+Vcdh
%!)
79>iVjiZXZ79>iVhV!Xj_VYZcdb^cVdeVhhdj
igVchedgiZ[gZiVYdZbVa\jbVhgZ\^ZhZkZcYV
VhZgEaVcdYZ7ZcZ[X^d9Zc^YdEaVcd79#
ZbfjZZhi{^chZg^YV#;9-
W#EaVcdYZ8dcig^Wj^d9Zc^YV89"E6>
:hhZeaVcdd[ZgZX^YdVidYdhdh[jcX^dc{g^dh
ZXdciVkV!Zb(&YZYZoZbWgdYZ'%%,!Xdb*#%,,
8ZhiVhYZCViVa#B7)
eZaV:begZhV!YZG*#*'-!&,![d^&!'kZohjeZg^dg
bZhbdeZgdYd#;9+
jbEaVcdYZ7ZcZ[X^d9Zc^Yd79ZjbEaVcd
7gVh^aedgZhiZXg^ig^d#;9)
V#EaVcdYZ7ZcZ[X^d9Zc^Yd79
egdYji^k^YVYZ!fjVa^YVYZZXjhidhYZXVYVjc^YVYZ#
XdbeaZbZciVdYZVedhZciVYdg^V!edgiZbedYZ
:cigZdhWZcZ[X^dhXdcXZY^YdhVdh[jcX^dc{g^dh
Xdcig^Wj^d!ZheZX^Va!edg^YVYZ!^ckVa^YZo!gZcYV
eZXa^dedgbdgiZ#:hi{kZYVYddVXZhhdYZcdkdh
eVgi^X^eVciZhVZhhZeaVcd#:b[ZkZgZ^gdYZ'%%,![d^
VegdkVYVVjc^XVdYdhEaVcdh799M9jgViZm!
+#,-*
G:A6v:H8DB6:BEG:H6
:b '%%,! [dgVb XZaZWgVYdh YZo VXdgYdh
XdaZi^kdh YZ igVWVa]d eZaVh ZbegZhVh 9jgViZm
Y^gZiVbZciZ Xdb h^cY^XVidh egdhh^dcV^h Z igh
XdckZcZh XdaZi^kVh YZ igVWVa]d edg bZ^d Ydh
h^cY^XVidheVigdcV^hfjZgZegZhZciVbVhjc^YVYZh
^cYjhig^V^h Z VWgVc\Zb &%% Ydh ZbegZ\VYdh#
Cd[dgVbgZ\^higVYVh\gZkZhdjeVgVa^hVZhZb
cZc]jbVjc^YVYZYV:begZhV#69jgViZmhZ\jZVh
Y^gZig^oZhYVDg\Vc^oVd>ciZgcVX^dcVaYdIgVWVa]d
D>IZbgZaVd|a^WZgYVYZh^cY^XVa!VdY^gZ^idYZ
cZ\dX^Vd XdaZi^kV Z | gZegZhZciVd ^ciZgcV#
9jgVciZdeZgdYd!VgZaVdXdbdhh^cY^XVidh[d^
Veg^bdgVYV!XdbV^cY^XVdYZjbgZegZhZciVciZ
YZ XVYV [{Wg^XV eVgV bVciZg XdckZghVZh Xdb
Vh Zci^YVYZh d Vcd ^ciZ^gd! Zb jbV Vi^ijYZ YZ
Vegdm^bVdZYZegdVi^k^YVYZ#B7*">H+
6hjc^YVYZhVYdiVbegd\gVbVhYZhj\ZhiZh!
^cXZci^kVcYd V eVgi^X^eVd Ydh XdaVWdgVYdgZh#
DCB:GD9:8DA67DG69DG:HEGEG>DH6D;>C6A9:'%%,#
))#9JG6I:M#G:A6IG>D6CJ6A
FJ6A>969:9:K>96:H:<JG6Cv6
6egZdXjeVdXdbVhVYZ!VfjVa^YVYZYZk^YV
ZVhZ\jgVcVYdh[jcX^dc{g^dhjbVXdchiVciZ
ZbidYVhVhjc^YVYZhYV:begZhV#6hXdchiVciZh
VXVggZiVgegdWaZbVhYZhVYZ#:b'%%,![d^Xg^VYd
Xdcig^WjVbeVgVVXdchZgkVdYdbZ^dVbW^ZciZ!
jbegd\gVbVYZeVaZhigVhcV{gZVYZhVYZeVgV
Veg^bdgVgV[dgbVYZjhVgdViZcY^bZcidbY^Xd
VX^YZciZhVXVYVVcd#:b'%%,![dgVb&)+!dj&(
d[ZgZX^YdeZadeaVcdYZhVYZ!fjZiZbhZjkVadg
bZcdhYdfjZZb'%%+#:hhZeZgXZcijVahjeZgdj
k^cXjaVYdVdjhd#B7.
k^h^iVh:cigZ";{Wg^XVh!fjZk^hV|^ciZ\gVdZcigZ
VbZiV!fjZZgVYZ+YZgZYjd#
6eg{i^XVYZZhedgiZh^cXZci^kVYVeZaV:begZhV!
iVcidedghZjhWZcZ[X^dhZbiZgbdhYZfjVa^YVYZYZ
dhXdaVWdgVYdgZhZVigdXVYZZmeZg^cX^Vh#
k^YVfjVcideZadVeg^bdgVbZcidegdhh^dcVafjZ
egdedgX^dcV! [dgiVaZXZcYd d igVWVa]d Zb Zfj^eZ
HVYZZhZ\jgVcVB7-
9jgViZm
'%%+
'%%,
Xdch^YZgVYVZmZbead#A{!Vegdm^bVYVbZciZ+%
6X^YZciZhXdbV[VhiVbZcid
&&&
&%&
&%,
6X^YZciZhhZbV[VhiVbZcid
.,
.,
(.
9^VheZgY^YdhedgV[VhiVbZcid
&#%*,
-&%
&#(-+
HZh^HZgk^dHdX^VaYV>cYhig^V!Xdb((igd[jh#
9^VheZgY^YdhigVchedgiVYdh
+#%('
*#&--
(#'-'
<Vc]VgVb))Ydhegb^dhYZeg^bZ^gdaj\VgYZ
+#%%%
,#%-.
*#..-
&%#++-
6WhZciZhbd6iZhiVYdh
%!,(
%!*.
%!,-
8ZcigVa!cV6kZc^YVEVja^hiV!fjZXdciVXdbjbV
6WhZciZhbd6X^YZciZh
%!%,
%!%+
%!%.
&
,!*
*!-
*!.
*,)!.
),)!'
,.*!)
9^VhXdbejiVYdhZYZW^iVYdh
9^VhidiV^h
W^idhgZaVX^dcVYdhVdigVWVa]d
IVmVYZ[gZfcX^VYZVX^YZciZhY^VheZgY^Ydh$==I&
IVmVYZ\gVk^YVYZYZVX^YZciZh68B'$==I&
X^YZciZXdbV[VhiVbZcidbY^Xd#
'#=dgVh$]dbZbigVWVa]VYVh#
hZjhXdaVWdgVYdgZh#
9JG6I:M#G:A6IG>D6CJ6A#
)*
DH^cZg\^V!egd\gVbVXdcicjdXdbegZk^hdYZ
jbVcdZbZ^dYZYjgVd![d^^c^X^VYdZbV\dhid!
fjVa^XVgdheVgi^X^eVciZhZb[jcZhYZa^YZgVcV!
HjhiZciVW^a^YVYZ!XdaZiVhZaZi^kV!H^hiZbVYZ<Zhid
6bW^ZciVaZigZ^cVbZcidhiXc^XdhhdWgZVhedai^XVh
adjVhhVc^i{g^VhZbHdAZdedaYdGH#
YVXZgi^XVd;H8;dgZhiHiZlVYh]^e8djcX^a#
cd 9^V YVh BZh! 9^V Ydh EV^h Z cV [ZhiV YZ +%
G)%.b^aZb'%%,#6didYd![dgVb.'#)-%]dgVh
VcdhYV9ZXV!ZcigZdjigdh#CdY^V'+YZdjijWgd!
]dgVhYZigZ^cVbZcidZbXVYVjc^YVYZ#DeWa^Xd"
Vakdcd:hXg^ig^d8ZcigVaYZVcVa^hiVhZX]Z[Zh!
Xjghdh#6bY^VVcjVaYZ]dgVhYZigZ^cVbZcidedg
AdjVh?jcY^VZAdjVhHjahZgk^gVbjbVabdd
XdbVgZVa^oVdYZZcXdcigdhbZchV^h#CVh{gZVh
eZhhdV[d^YZ'+!*#DjigdhXjghdhZegd\gVbVhYZ
XdbXVgY{e^dZheZX^VaVdhdbYZbh^XVVdk^kd
^cYjhig^V^h!Y^g^\^YdVhjeZgk^hdgZh!Zc\Zc]Z^gdh!
igZ^cVbZcidZYZhZckdak^bZcid[dgVb/*b^cjidh
eVgV[ZhiZ_VgdVc^kZgh{g^dYVY^k^hdgZhedch{kZa
VcVa^hiVh!iXc^XdhZdjigdh#
IG:>C6B:CID::9J86vD
:b'%%,!V9jgViZmYZhi^cdjG&!&b^a]dVd
igZ^cVbZcid Z XVeVX^iVd Ydh XdaVWdgVYdgZh!
^cXaj^cYdXjghdhYZZYjXVdXdci^cjVYV!^Y^dbVh
Z eh"\gVYjVd# Dh Xjghdh gZ\^higVgVb +&#&'&
eVgi^X^eVZh! Xdb V bY^V YZ (%!) ]dgVh edg
[jcX^dc{g^d# D VeZg[Z^dVbZcid! V [dgbVd Z V
gZX^XaV\ZbhdXdchiVciZh!XdbVeVgi^X^eVdYZ
egdhh^dcV^h ^ciZgcdh Z ZmiZgcdh YZ gZXdc]ZX^YV
XdbeZicX^VcdbZgXVYd#B7'&
:cigZdhegd\gVbVhYZXVeVX^iVd!YZhiVXV"hZ
d8ZcigdYZ;dgbVd!ZbHdAZdedaYd!fjZViZcYZ
VegZcY^oZhZegdhh^dcV^h#Degd\gVbVYZk^h^iVhVd
ZmiZg^dg iZkZ V eVgi^X^eVd YZ hZ^h egdhh^dcV^h!
fjZ k^h^iVgVb [Z^gVh ^ciZgcVX^dcV^h! Xa^ZciZh Z
[dgcZXZYdgZh!VabYZeVgi^X^eVgYZgZjc^Zh#
8Y^\dYZwi^XVZ8dcYjiVhZ^c^X^djZbhZiZbWgd
XdaVWdgVYdgZhVdadc\dYZ'%%-#
eZaV[VWg^XVdYZbZiV^hZadjVhhVc^i{g^Vh#
9^k^hdBVYZ^gV:b'%%,![dgVbgZVa^oVYdh
8dbZgX^VabVci^Yddegd\gVbV9ZhZckdak^bZcid
&&#+&&
eaVcZ_VYVZXdch^hiZciZ!VZhfjZXdcig^WjVbXdb
dYZhZckdak^bZcidXdcicjdYdhXdaVWdgVYdgZh#
-.+
igZ^cVbZcidh!
fjZ
idiVa^oVgVb
+&#&'&eVgi^X^eVZh
)+#9JG6I:M#G:A6IG>D6CJ6A
IgZ^cVbZcid#]dgVh$XdaVWdgVYdg
(%!)
''!.
'%!-
8daVWdgVYdgZh/^ckZhi^bZcidZbigZ^cVbZcid
'%%+
KVadg^ckZhi^YdG
=dgVhYZigZ^cVbZcidedgZbegZ\VYd$Vcd
CYZigZ^cVcYdh
CYZWdahVhYZZhijYdXdcXZY^YVhV[jcX^dc{g^dh
KVadg^ckZhi^YdZbWdahVhYZZhijYdG
%*
%+
'%%,
-&(#,''!'+ &#&&*#*(&!%%
''!.
(%!)
))#(*+
+&#+'&
(,
*'
&(+#&.'!&+
&&.#&),!&%
%,
9JG6I:M#G:A6IG>D6CJ6A#
),
EgdedgdhVaVg^Vaedg\cZgdB7'*
BY^VhHVaVg^V^hA6&)
=dbZchidiVa
G'#)%&!-)
CZ\gdh$eVgYdh
G&#-(&!-%
7gVcXdh
G'#*(%!-&
9ZbV^h
G(#(-&!)-
Bja]ZgZhidiVa
G'#*&.!&,
Zc\adWVgVbVegdm^bVYVbZciZ(&b^aeVgi^X^eVZh
CZ\gVh$eVgYVh
G&#&&(!%*
Z^ckZhi^bZcidhYZVegdm^bVYVbZciZG&b^a]d#
7gVcXVh
G'#+)(!+&
9ZbV^h
G(#*)-!)'
bVgXZcZ^gdh!Vgfj^iZidh!YZXdgVYdgZh!^chiVaVYdgZh
YZe^hdaVb^cVYd!WVaXdc^hiVhZYdcdhYZgZkZcYV!
YZcigZdjigdh#
9>K:GH>969:
:cigZ dh +#,-* XdaVWdgVYdgZh! +%& hd
bja]ZgZh! d fjZ XdggZhedcYZ V -!-* Yd idiVa#
6egZYdb^c}cX^VbVhXja^cVZmea^XV"hZeZadgVbd
YZVi^k^YVYZYV:begZhV!ZbfjZVh[jcZhcVh
{gZVh dgZhiV^h Z [{Wg^XVh hd YZhZbeZc]VYVh
bV_dg^iVg^VbZciZ edg ]dbZch# 6 egdedgd YZ
hVa{g^dh ZcigZ ]dbZch Z bja]ZgZh edg XViZ\dg^V
[jcX^dcVa YZcdiV eVg^YVYZ ZcigZ dh \cZgdh
Z Vh Y^[ZgZcVh dWhZgkVYVh edg Zic^V Zhid
>cY^XVYdgZhYZY^kZgh^YVYZB7'*
9jgViZm
CYZbja]ZgZh
CYZbja]ZgZhcZ\gVhZeVgYVh
CYZbja]ZgZhZbXVg\dYZ\ZgcX^V
CYZbja]ZgZhZbXVg\dYZY^gZidg^V
CYZcZ\gdhZeVgYdh
CYZcZ\gdhZeVgYdhZbXVg\dYZY^gZidg^V
'%%+
'%%,
).*
+%&
-!.
)'
*(
%!-
'
'
%!%
%!%
&#%-(
&#'&&
&,!-
%!%
CYZedgiVYdgZhYZYZX^cX^VdjcZXZhh^YVYZhZheZX^V^h
'('
'),
(!+
EZhhdVhXdbbV^hYZ)*Vcdh
-%%
..(
&)!+
(&b^aeVgi^X^eVZh
)-#9JG6I:M#G:A6IG>D6CJ6A
-!.
9JG6I:M#G:A6IG>D6CJ6A#
).
6IJ6vD:HIG6Iw<>86
9JG6I:M#G:A6IG>D6CJ6A#
*&
Xdbjc^YVYZ
EGD;>HH>DC6A>O6vD9DH?DK:CH::9J86vD6B7>:CI6AHDDHI:B6HFJ:8:CIG6A>O6B
66vD969JG6I:MC6H8DBJC>969:H:BFJ:6IJ6!EDG>9:CI>;>86GC:HH6H>C>8>6I>K6H
6B:A=DG;DGB69:EGDBDK:G6>C8AJHDHD8>6A:D9:H:CKDAK>B:CIDHJHI:CIK:A#
DH 9:HI6FJ:H HD 6 :H8DA6 I>9: H:I76A : 6 G:6 9: K>KC8>6 6B7>:CI6A E>6I6C!
6B76H:B6<J9DH#
*'#9JG6I:M#G:A6IG>D6CJ6A
Hda^YVg^ZYVYZZb;dXd!fjZegdbdkZXVbeVc]Vh
^ckZhi^bZcidhYZG'!+b^a]Zh!VciZG'b^a]Zh
cdVcdVciZg^dg#;9.
[gVaYVhVggZXVYVYVh[dgVbZcigZ\jZhVdAVgHd
6:hXdaVBjc^X^eVaYZBVgXZcVg^VI^YZHZiWVa!
K^XZciZYZEVjaV!YZ>iVeZi^c^c\V!fjZZm^hiZYZhYZ
YZ"dWgVcVgZ\^d!gZXdc]ZX^YVXdbd^bedgiVciZ
^YVYZYdHZh^adXVa#
egZ[Z^ijgVYdbjc^Xe^dZXdbdHZgk^dCVX^dcVa
EdgbZ^dYVYdVdYZ&Yd>bedhidYZGZcYV
Ydh9^gZ^idhYV8g^VcVZYd6YdaZhXZciZ8B986!
egd_ZidG')!-b^acdVcd#
Xg^VcVhZVdhVYdaZhXZciZh#6Vd[d^Y^gZX^dcVYV
Vdh8dchZa]dhYVhX^YVYZheVja^hiVhYZ7dijXVij!
VbW^ZciVaZgZXZWZYZhYZZhijYVciZhViegdhh^dcV^h
?jcY^V!6\jYdh!>iVeZi^c^c\V!6gVd^VWVYVHZggV
<dcVakZhZHdAZdedaYd#
:b'%%,!V9jgViZm[ZodgZeVhhZYZG)-*b^a
eVgVdEgd_Zid7Zb"FjZgZg!fjZViZcYZXg^VcVh
bdhigVbVhZiVeVhYVXVYZ^VegdYji^kVYVhX]VeVh
fjZZhidXVYVhigVYVhcdh8dchZa]dhBjc^X^eV^h!
9jgViZm!Zk^YZcX^VcYdVhbZY^YVhYZXdchZgkVd
Yd6YdaZhXZciZ#DEgd_Zid7Zb"FjZgZgcdZm^hiZ
YZhZckdakZgcdhk^h^iVciZhVXdchX^cX^VVbW^ZciVa#
'!+b^a]Zh
G
;DG6B>CK:HI>9DH:B>C>8>6I>K6HHD8>6>H!(%68>B69DK6ADG9:HI>C69D6:HH6H
6v:H:B'%%+#
9JG6I:M#G:A6IG>D6CJ6A#
*(
[dgcZXZYdgZh
6 :begZhV edhhjV! Vd cVa YZ '%%,! *#)+&
[dgcZXZYdgZh Vi^kdh# 6egdm^bVYVbZciZ &&
YVh XdbegVh [dgVb gZVa^oVYVh YZ [dgcZXZYdgZh
adXVa^oVYdhcdhbjc^Xe^dhdcYZVh[{Wg^XVhZhid
^chiVaVYVh# 9Z VXdgYd Xdb d 8Y^\d YZ wi^XV Z
8dcYjiVYV9jgViZm!ZheZgVYdYdh[dgcZXZYdgZh
dh bZhbdh eg^cXe^dh YZ aZ\Va^YVYZ Z edhijgV
i^XV VYdiVYdh eZaV :begZhV! hdW d g^hXd YV
YZhXdci^cj^YVYZYdgZaVX^dcVbZcid#;9,
&&
\dkZgcdZhdX^ZYVYZ
6AwB 9D E6<6B:CID 9: >BEDHIDH! I6M6H : 8DCIG>7J>v:H E6G6 DH <DK:GCDH
C6H :H;:G6H ;:9:G6A! :HI69J6>H : BJC>8>E6>H! FJ: IDI6A>ODJ G )+,!) B>A=:H
CD E:GD9D! 6 9JG6I:M EGD8JG6 8DCIG>7J>G E6G6 6 HD8>:969: EDG B:>D 96
86E68>I6vD:9DIG:>C6B:CID9:EGD;>HH>DC6>H9DB:G869D:96E6GI>8>E6vD
CD9:H:CKDAK>B:CID:C6;DGBJA6vD9:EDAI>86HE7A>86H#
H>;!HX^Zci^X8Zgi^XVi^dcHnhiZbh!6hhdX^Vd
cd"bdcZi{g^VhgZhjaiVciZhYVcd"Xdc[dgb^YVYZ
eZgdYdhdbVgVbG'-(b^a!hZcYdfjZVc^XV
h^\c^XVi^kV[d^YZXdggZciZYZXgY^id^cYZk^YdYZ
>8BH!cdkVadgG',%b^a#IE-[IE.
6WZgiVh
6hhdX^Vd7gVh^aZ^gVYZ8ZajadhZZEVeZa6W^eaV
6WgVhXV!
>chi^ijid
7gVh^aZ^gd
YZ
Xdggjed#HD'
Z;dgZhiHiZlVgYh]^e8djcX^a;H8#<G>)#&(
9JG6I:M#G:A6IG>D6CJ6A#
**
Xa^ZciZhZ
Xdchjb^YdgZh
6 7JH86 E:A6 H6I>H;6vD 8DB 6 FJ6A>969: 9DH H:GK>vDH : EGD9JIDH :HI C6
76H: 9D G:A68>DC6B:CID 96 9JG6I:M 8DB 8A>:CI:H : 8DCHJB>9DG:H# D D7?:I>KD
w 8DCFJ>HI6G CK:>H :A:K69DH 9: 8DC;>6Cv6 : 9: EG:;:GC8>6 E:A6H B6G86H 96
8DBE6C=>6!68DBE6C=69DHEDGE:HFJ>H6HE:G>9>86H>9:CI>;>86GEDCIDHE6HHK:>H
9:B:A=DG>6#
VcdZXdcidjXdbVeVgi^X^eVdYZ&#*+'eZhhdVh!
ZhigZ^iVgdhaVdhYZXdcVcVXdbhZjhXa^ZciZh!
9jgVddg!eVYgZh!jhdhZVea^XVZhZY^XVh
XdbZgX^Va^oVbde^hd9jgVddg#
YZXdbW^cVdXdbVheVgZYZhZbdW^a^{g^d#
DX^XadXdbedhidYZYd^hbYjadh#Deg^bZ^gd
9ZhhV[dgbV!VabYZc^kZaVgVh^c[dgbVZh
gZ\ZbVgZaVdXdbdhXa^ZciZheZgb^i^gVbjb
edhijgVYdkZcYZYdg!i^edhYZXdchjb^YdgZh!Xdbd
Y^kja\VYVh^c[dgbVZhhdWgZV9jgViZm#
YdhXdchjb^YdgZh#
ViZXcdad\^V^beVXiVV[dgbVYZXdbZgX^Va^oVd
YZ
kZcYZYdgZhhZVijVa^oVgZbXdchiVciZbZciZ!ZcigZ
aVb^cVYdh!VabYZWVaXdc^hiVhgZegZhZciVgVb
djigdh#DhZ\jcYdhdWgZV9jgViZmZV ]daY^c\
.'b^aegdhh^dcV^h#
eVgV'%%-#
D
igZ^cVbZcid
Z
V
XVeVX^iVd
:b'%%,!dhZgk^dYZ6hh^hicX^VIXc^XV
Vea^XVYdZbY^kZghVhX^YVYZhYd7gVh^aYjgVciZd
a^\VZh!'*#.-+gZXZW^YVhZ&(#&+(Z[ZijVYVh0
*+#9JG6I:M#G:A6IG>D6CJ6A
HZgk^dYZViZcY^bZcidVdXdchjb^Ydg9jgVddg
IdiVaYZa^\VZhViZcY^YVheZadH68
YZgZXaVbVZhZbgZaVdVdidiVaYZa^\VZhViZcY^YVh
YZgZXaVbVZhcdViZcY^YVheZadH68
IZbedbY^dYZZheZgVVdiZaZ[dcZVid^cX^dYdViZcY^bZcid
'%%,
egZhiVYdheZaV9^k^hd#D XVaaXZciZgViZcYZjjb
'-#%&(
'*#.-+
,!'
-!%
%
%
*h
*h
HZgk^dYZViZcY^bZcidVdXdchjb^Ydg9^k^hd9ZXV
'%%,
6iZcY^bZcidVd8dchjb^YdgegdbdkZV^cYVjbV
IdiVaYZa^\VZhViZcY^YVheZadH68
.,#,'+
.'#-)*
YZgZXaVbVZhZbgZaVdVdidiVaYZa^\VZhViZcY^YVh
%!',
%!')
iXc^XV!dhZidgYZViZcY^bZcidZcigVZbXdciVid
YZgZXaVbVZhcdViZcY^YVheZadH68
%!%)
%!%*
()h
&&*h
IZbedbY^dYZZheZgVVdiZaZ[dcZVid^cX^dYdViZcY^bZcid
hZgk^degZhiVYd#FH+
6ab YZ dWhZgkVg YZ [dgbV g^\dgdhV d
Xjbeg^bZcidYVhaZ^h!cdgbVhZXY^\dhadXV^hZ
^ciZgcVX^dcV^h fjZ gZ\Zb V Y^kja\Vd edg bZ^d
'#**+XdciVidhk^VZ"bV^a0dZck^dYZ(#,*+XVgiVh0
GZ\^higdYZEgdeg^Zi{g^d8GE#
gZXaVbVYd!ZbgZV^h![d^YZ%!&.!ZYdhVXZhhg^dh!
YZ%!%.#
9JG6I:M#G:A6IG>D6CJ6A#
*,
<:HID
6B7>:CI6A
egZhZciZZbk{g^dheVhZh!fjZ^cXZci^kVVVYddYd
XdcXZ^idYVhjhiZciVW^a^YVYZcV^cYhig^VYVXdchigjd
X^k^a#=H?;9(
6ZaVWdgVdZVVea^XVdYVEdai^XV6bW^ZciVa
[dgVb gZVa^oVYVh eZad 8db^i YZ HjhiZciVW^a^YVYZ
HdX^Va! 6bW^ZciVa Z 8jaijgVa! Xg^VYd Zb '%%,# 6
Zfj^eZ iVbWb gZhedch{kZa eZaV hXVa^oVd Z
edgVhhZ\jgVgdXjbeg^bZcidYZidYVhVhY^gZig^oZh
ZhiVWZaZX^YVh cd YdXjbZcid# Cd Vcd! cd [dgVb
gZ\^higVYVhbjaiVhh^\c^XVi^kVhcZbhVcZhcd"
bdcZi{g^VhgZhjaiVciZhYVcd"Xdc[dgb^YVYZXdbaZ^h
ZgZ\jaVbZcidhVbW^ZciV^h#;D(.
*-#9JG6I:M#G:A6IG>D6CJ6A
7>D9>K:GH>969:
eZXj{g^V#Dh^cXcY^dhdgZhiV^hhdXdbWVi^Ydh
6gZV;adgZhiVa[ZhiZ_djhZjh*%VcdhXdbV
Xdbjc^kZgh^YVYZhegdXjgVcYdaZkVciVgZbdc^idgVg
XdbbZY^YVhYZegZkZcdfjZ^cXajZbh^hiZbVh
Xg^VdYZjbV{gZVYZegZhZgkVdeZgbVcZciZ
kVg^{kZ^hYVW^dY^kZgh^YVYZ#CdZm^hiZb^beVXidh
XdaVWdgVYdgZhZYVhXdbjc^YVYZhadXV^h#
^ciZg^dgYd:hiVYdYZHdEVjad!dZheVdiZbjbV
eVgVVW^dY^kZgh^YVYZYZXdggZciZYVXdchZgkVd
g^XVW^dY^kZgh^YVYZ!XdbbV^hYZ&(%ZheX^ZhYZ
{gkdgZh^YZci^XVYVh!(YZeg^bViVhZ'-(YZVkZh!
VabYZk{g^VhdjigVh[dgbVhYZk^YV#CdidiVa!hd
XdbWViZVdh^cXcY^dhdgZhiV^h#;D''
ZjXVa^eid#6c^bV^hfjZ^ciZ\gVbVha^hiVhcVX^dcVa
ZZhiVYjVaYZZheX^ZhVbZVVYVhYZZmi^cd
XdbdVhjjVgVcVdjdcV"eVgYV!djgjWj"gZ^!d
YZVaiVW^dY^kZgh^YVYZ#;D''[;D')
bZa]dgVgVgZYZYZ{gZVhegdiZ\^YVhcVhgZ\^Zh
_VXVg"YZ"eVed"VbVgZad Z d iVbVcYj{"WVcYZ^gV
edYZbhZgZcXdcigVYdhXdbgZaVi^kV[VX^a^YVYZ
IdiVaYZ^ckZhi^bZcidhZ\VhidhZbegdiZdVbW^ZciVa!edgi^ed;D)&
Xg^i^XVbZciZVbZVVYd#;D'+
:bGb^a
'%%+
'%%,
KVg#
IgViVbZcidYZZjZciZh
+#'%)
-#(.-
(*
8daZiVYZgZhYjdh
&#+*'
&#+),
"
EgZhZgkVddgZhiVa
-*%
-.)
*
8Zgi^XVd6K6E
&,*
(-+
&'%
Djigdh
&#(++
'#'.'
+-
IDI6A
&%#'),
&(#+&,
((
EGI>86H;D'([;D'*
6VijVdYV9jgViZmegdkVfjZedhhkZaVa^Vg
VegZhZgkVdYVcVijgZoV!\VgVci^cYdVeZgZc^YVYZ
Yd cZ\X^d! Xdb egdYji^k^YVYZ VX^bV YV bY^V#
DYZhZckdak^bZcidYZcdkVhiXc^XVh!VhXdchiVciZh
eZhfj^hVhV:begZhVYZhi^cVG&!*b^a]dVdVcd
Vd egd_Zid YZ bZa]dgVbZcid \Zci^Xd Z djigVh
VZhYZVeg^bdgVbZcidVdadc\dYdbZ^dhXjadYV
{gZVdgZhiVaeZgb^i^gVbVjbZcidYZegdYji^k^YVYZ
hjeZg^dg V &+%! gZegZhZciVcYd \Vc]d eVgV dh
VX^dc^hiVhZhjhiZciVdeVgVVZmeVchd^cYjhig^Va#
:b'%%,!VgZV;adgZhiVaWViZjgZXdgYZhiVcid
Y^X^abZciZXdchZ\jZbhZegda^[ZgVg#6XVYVb^a
ZbVfj^h^dYZcdkVhiZggVhfjVcidZbeaVci^dYZ
cdkVhgZ\^Zh#;dgVbXdbegVYdh.!)b^a]ZXiVgZh!
ZeaVciVYVh&%b^a]ZXiVgZhYZ[dgZhiV#
jbcdkd[dgb^\jZ^gd#
bVcZ_dbZa]dgYdhgZXjghdh]Yg^Xdh#
jhdbZcdgYZeZhi^X^YVhfjZV\g^YZbVcVijgZoV
DjhdYZVYjWdhZYZV\gdim^XdhYZc^Ydedg
ZbZa]dgVegdkZ^iVbZcid]Yg^Xd!_{fjZdhXadcZh
VYjWd!fjZ!ZbkZoYZhZgZheVg\^Yd!Vea^XVYdcV
eaVci^dXdb\ZaZb'%%+!eVhhVcYdXdbdeg{i^XV
bjYV!Xdb\Vc]dhVbW^ZciV^hZYZgVX^dcVa^oVd
eVgVidYVhVhjc^YVYZhdgZhiV^hVeVgi^gYZ'%%,#
cdjhdYdegdYjid#DXdchiVciZbdc^idgVbZcidYVh
DeaVci^dgZVa^oVYdcdeZgdYdbV^hhZXdYdVcd
dgZhiVhedgiXc^XdhZbcjig^dZegdiZddgZhiVa
ZZbbdbZcidhYZkZgVc^Xd#D\ZajbedabZgd
edhh^W^a^iVdY^V\chi^XdZVVdZX^ZciZh#
VWhdgkZciZfjZ!ZbXdciVidXdbV{\jV!VgZib!
igVch[dgbVcYdZb\Za#6XVeVX^YVYZYZgZiZcd
YZ XVYV \gVbV YZ edabZgd YZ Vi (%% ba YZ
YVhdgZhiVhZVXdchZgkVdYdbZ^dVbW^ZciZ#
{\jV!dfjZXdcig^Wj^eVgVVZXdcdb^VYdgZXjghd!
egZhZgkVcYdbVcVcX^V^hZWVX^Vh]^Ygd\g{XVh#
H:ADK:G9:
:hhVXjaijgVYZegdiZdVdbZ^dVbW^ZciZ[Vo
:C:G<>6
D Xdchjbd YZ ZcZg\^V Zb '%%, idiVa^odj
,#&&,#)%) <?! d fjZ gZegZhZciV XgZhX^bZcid cd
XdchjbdYZ,ZbgZaVdVdVcdVciZg^dg#;D)
;dciZh gZcdk{kZ^h W^dbVhhV YZ bVYZ^gV Z
gZhYjdh YZ bVYZ^gV XdggZhedcYZb V *& YV
bVig^o ZcZg\i^XV YV :begZhV! ZcfjVcid '-
gZ[ZgZb"hZVXdbWjhikZ^hYZg^kVYdhYZeZigaZd#
6 ZcZg\^V Zaig^XV! hjeg^YV edg XdcXZhh^dc{g^V
adXVa! Zfj^kVaZ V '& Yd Xdchjbd idiVa# :hhV
Xdbedh^d eZgb^iZ Yd^h \Vc]dh ^bedgiVciZh/
ZXdcb^Xd Z VbW^ZciVa! eZad bZcdg kdajbZ YZ
Zb^hhZhVibdh[g^XVh#
CV 9^k^hd BVYZ^gV! V ji^a^oVd YZ aZd cV
bVig^oZcZg\i^XV[d^gZYjo^YVZb,.#'+(idcZaVYVh
YZk^Yd Vd VjbZcid YV ji^a^oVd YZ W^dbVhhV#
EVgV iVcid! [d^ VYZfjVYd d h^hiZbV YZ XVaYZ^gVh!
fjZ eZgb^i^j d ^cXgZbZcid Zb &-.#,,, idcZaVYVh
cdjhdYZW^dbVhhVcZhhVbVig^o#;D+
eVgiZYV]^hig^VYV:begZhV!YZcdiVe^dcZ^g^hbd
Z hZbegZ [d^ gZXdc]ZX^YV eZaV de^c^d eWa^XV
Z g\dh YZY^XVYdh V egdiZ\Zg V cVijgZoV# 6
9jgViZm[d^Veg^bZ^gV^cYhig^VYV6bg^XVAVi^cV
V Xdcfj^hiVg V XZgi^XVd HZad KZgYZ YZ hjVh
dgZhiVheaVciVYVh!Zb&..*!Ze^dcZ^gVZbdWiZg
dHZadKZgYZYV;dgZhiHiZlVgYh]^e8djcX^a;H8!
Zb &..+! XZgi^XVd fjZ [d^ gZcdkVYV Zb '%%,#
IVbWbedhhj^VXZgi^XVdYd>HD&)%%&#
&(!+b^a]Zh
G
:B>CK:HI>B:CIDH:<6HIDH:BEGDI:vD6B7>:CI6A;DG6BJI>A>O69DH:B'%%,#
+%#9JG6I:M#G:A6IG>D6CJ6A
8dchjbdYZZcZg\^VY^gZiV<?:C(
BVYZ^gV#*&
:cZg\^VZaig^XV#'&
<{hcVjgVa#&)
,#&&,#)%)
,#%&%#',%
.&&#+,+
aZd7E;#&&
+#++.#'%% &#')*#*-.
&#%)-#&.*
9^ZhZa#(
+#%.-#*.)
*#-,&#-&*
*#+'&#%%*
%*
%+
%,
9ZXV
BVYZ^gV
BVig^o:cZg\i^XV
*&
9JG6I:M#G:A6IG>D6CJ6A#
+&
<J6
Hd k{g^Vh Vh ^c^X^Vi^kVh Y^gZX^dcVYVh |
ZXdcdb^V cd Xdchjbd YZ {\jV fjZ! Zb '%%,!
[VoZgeVgiZYd7VcXdYZ7dVhEg{i^XVhYdegd_Zid#
Zhij[VhZfZhigVYVYVVibdh[ZgVeZaVWVhZdgZhiVa
;79H;jcYVd7gVh^aZ^gVeVgVd9ZhZckdak^bZcid
Jc^kZgh^i{g^VYVJc^kZgh^YVYZYZHdEVjadJHE#
cdgZegZhZciVkdajbZh^\c^XVi^kdZbgZaVd|
DZkZcidgZjc^j&%b^aeZhhdVh!ZcigZVgfj^iZidh!
YZXdgVYdgZh!ZbegZh{g^dh![dgbVYdgZhYZde^c^d!
gZkZcYZYdgZhZdeWa^XdYZbdYd\ZgVa#6abYZ
WdahVZbfjZhdcZ\dX^VYdhXgY^idhYZXVgWdcd#
Xdchjb^YVZgZX^Xadj)#;D.";D/[;D'&
hdWgZdjhdgVX^dcVaYV{\jVZbidYddigV_Zid#
hZ\bZcidYZadjVhhVc^i{g^Vh#;dgVbhjWhi^ijYdh
:B>HH:H6IBDH;wG>86H
6 9jgViZm gZVa^odj! Zb '%%,! d aZkVciVbZcid
YZ hjVh Zb^hhZh YZ 8D' Y^m^Yd YZ XVgWdcd#
EVgV ZhhZ igVWVa]d! [d^ XdcigViVYV jbV ZbegZhV
^cYZeZcYZciZ Z ZheZX^Va^oVYV cd Vhhjcid! V >8;
>ciZgcVi^dcVa# D aZkVciVbZcid YZbdchigdj fjZ
YZ 8D'! d fjZ gZegZhZciV gZYjd YZ &+ Zb
G:H9JDH::;AJ:CI:H
EZhdidiVaYZgZhYjdhidcZaVYVh
YVVi^k^YVYZ^cYjhig^VaZYZigVchedgiZYZbVYZ^gV#
8dchda^YVYdXdc[dgbZC7G&%#%%)
GZhYjdh8aVhhZ>
GZhYjdh8aVhhZ>>6
&&.#+).
gZVa^oVYdZb'%%-#:C&+Z:C'.
GZhYjdh8aVhhZ>>7
&-#-*)
aZkVciVbZcid#DYVYd^cXaj^Zb^hhZhYZXdggZciZh
'%%+
'%%,
(#*-,#.)-
(#*(+#.(&
(#.(&#)''
-'
EddVgiZh^Vcd
+&,#,''
+.'#((%
+,*#((.
&)
8dcXZhh^dc{g^V
&*)#-+-
&+)#-&+
&--#*)-
)
)#(+%#*(-
)#(.)#%,,
)#,.*#(%.
EZgXZcijVaZkdajbZidiVaYZ{\jVgZX^XaVYVZgZji^a^oVYV;D'&
JejWbc)
cVijgVa#;dgVbiVbWb^chiVaVYdhcdkdhaigdhZ
'%%*
IdiVa
dh[dgcdhVaZdedgdjigdhbV^hbdYZgcdhV\{h
[d^Zb^i^YdZb'%%+jbidiVaYZ&&.#.)%idcZaVYVh
IdiVaYZgZi^gVYVYZ{\jVedg[dciZb$Vcd;D.
8VeiVdg^d
)/
GZji^a^oVYV
(*
GZX^XaVYV
)
'$./)$-+)
&#+&+
:b^hhdYZ8D'#idcZaVYVh:C(
EZhdidiVaYZgZhYjdh!edgi^edZbidYdYZY^hedh^didcZaVYVh;D((
BVYZ^gV
EZg^\dhdh&!)Zcd"eZg^\dhdh.-!+
&%+#(&(
9ZXV
EZg^\dhdh%!+Zcd"eZg^\dhdh..!)
((#,%)
IdiVa
&+%#&%)
&*(#&)&
&)(#'-%
&(.#.**
&(%#*')
&''#(&.
&&.#.)%
&)%#%&,
6\ZhidYZgZhYjdhZZjZciZhWjhXVgZYjo^g
ZbgZVhYZGZXjeZgVdYZBViZg^V^h6GBhZ
gZVegdkZ^iVYdhcdegdXZhhdegdYji^kd#CdVcd!cd
bZi{a^XdhhdgZ[jcY^Ydh#
YZfjVafjZgZheX^Z#;D()
EVgiZYdhgZhYjdhkZcY^YVXdbdhjWegdYjidh!
^cYhig^VYZ[Zgi^a^oVciZh!ZYZ]^Ygm^YdYZcfjZa!
VegdkZ^iVYdeZaV^cYhig^Vfjb^XV#
9ZhXVgiZidiVaYZ{\jVb$Vcd!edgfjVa^YVYZZYZhi^cVd;D('
IgViVbZcidZb:I:adYdVi^kVYdZYZhXVgiZZbgZYZeWa^XV
'%(#..*
:jZciZEVgh]VaaIgViVbZcidYZE]ZZck^deVgVZb^hh{g^d?jcY^VZXVbedYZ
^gg^\Vd7dijXVij
IgViVbZcidZb:I:/AdYdVi^kVYd!IgViVbZcidYZ97D&%*b\$abY^dZZck^deVgV
XjghdY{\jV
IdiVa
(#&)%#-).
'&&#+%)
(#**+#))-
GZhYjdheZg^\dhdhigVchedgiVYdh;D(*
%%
%&
%'
%(
%)
%*
DhYVYdhgZ[ZgZciZhV'%%,hZgd
aZkVciVYdhZb'%%-#
%+
GZhYjd
9Zhi^cd
FjVci^YVYZ
aZdjhVYd
GZggZcd
&(#.)%a^igdh
IdVa]Vh^cYjhig^V^h
AVkV\Zb$gZjhd
)#%)+jc^YVYZh
IVbWdgZh^begZ\cVYdhedg]^YgdXVgWdcZidh
GZXjeZgVd
(',jc^YVYZh
;^aigdhZbVc\jZ^gVh^begZ\cVYdhedg]^YgdXVgWdcZidh 8d"egdXZhhVbZcid
*!.'idcZaVYVh
:bWVaV\ZchYZV\gdim^Xdh
(-#+,.jc^YVYZh
8ZcigV^hdX^V^hYZgZXda]^bZcid
;dciZ/gZaVig^d^ciZgcdYZgZhYjdheVgVdhfjV^hZm^hiZdYZk^YdgZ\^higdcV8ZiZhWZ8VYg^eVgVYZhi^cVd#
9JG6I:M#G:A6IG>D6CJ6A#
+(
76A6CvDHD8>6A6CJ6A'%%,CD"6J9>I69D
&"7VhZYZ8{aXjad
'%%,KVadgb^agZV^h
'%%+KVadgb^agZV^h
GZXZ^iVafj^YVGA
&#+,%!+
&#)-.!'
GZhjaiVYddeZgVX^dcVaGD
),*!)
(,.!&
;da]VYZEV\VbZcid7gjiV;E7
&+.!.
&*(!%
'">cY^XVYdgZhHdX^V^h>ciZgcdh
KVadgb^a hdWgZ;E7
hdWgZGA
KVadgb^a hdWgZ;E7
hdWgZGA
6a^bZciVd
&&!%
+!*
%!,
.!&
*!.
%!+
:cXVg\dhhdX^V^hXdbejahg^dh
.*!&
*+!%
*!,
-)!-
**!)
*!,
EgZk^YcX^Veg^kVYV
)!*
'!,
%!(
(!*
'!(
%!'
HVYZ
.!.
*!-
%!+
.!'
+!%
%!+
HZ\jgVcVZhVYZcdigVWVa]d
+!*
(!.
%!)
*!(
(!*
%!)
:YjXVd
%!&
%!&
%!%
%!&
%!&
%!%
8jaijgV
%!%
%!%
%!%
%!%
%!%
%!%
8VeVX^iVdZYZhZckdak^bZcidegdhh^dcVa
%!%
%!%
%!%
%!%
%!%
%!%
8gZX]ZhdjVjma^d"XgZX]Z
EVgi^X^eVdcdhajXgdhdjgZhjaiVYdh
Djigdh
IdiVa>cY^XVYdgZhhdX^V^h^ciZgcdh
(">cY^XVYdgZhHdX^V^h:miZgcdh
:YjXVd
%!%
%!%
%!%
%!%
%!%
%!%
&.!-
&&!'
&!&
&)!%
.!'
%!.
%!%
%!%
%!%
,!(
)!-
%!*
'*,"/
.,"+
.".
'))")
.-"'
/"&
KVadgb^a
hdWgZGD
hdWgZGA
KVadgb^a
hdWgZGD
hdWgZGA
%!%
%!%
%!%
%!%
%!%
%!%
8jaijgV
%!%
%!%
%!%
%!%
%!%
%!%
HVYZZhVcZVbZcid
%!%
%!%
%!%
%!%
%!%
%!%
:hedgiZ
%!%
%!%
%!%
%!%
%!%
%!%
8dbWViZ|[dbZZhZ\jgVcVVa^bZciVg
%!%
%!%
%!%
%!%
%!%
%!%
Djigdh
%!%
%!%
%!%
%!%
%!%
%!%
IdiVaYVhXdcig^Wj^ZheVgVVhdX^ZYVYZ
&"&
&"&
&"&
&"&
&"&
&"&
Ig^WjidhZmXajYdhZcXVg\dhhdX^V^h
++,!'
&)%!(
)%!%
*+-!(
&*%!%
(-!'
IdiVa>cY^XVYdgZhhdX^V^hZmiZgcdh
,,-"(
'*&")
*&"&
+,.")
'+&"&
)."(
KVadgb^a
hdWgZGD
hdWgZGA
KVadgb^a
hdWgZGD
hdWgZGA
&(!+
'!.
%!-
&%!%
'!+
%!,
)">cY^XVYdgZh6bW^ZciV^h
>ckZhi^bZcidhgZaVX^dcVYdhXdbVegdYjd$deZgVdYV:begZhV
>ckZhi^bZcidhZbegd\gVbVhZ$djegd_ZidhZmiZgcdh
IdiVaYdh^ckZhi^bZcidhZbbZ^dVbW^ZciZ
'!+
%!+
%!'
'!%
%!*
%!&
',"(
)"*
'"&
'("&
)"(
&".
cdedhhj^bZiVh
FjVcidVdZhiVWZaZX^bZcidYZbZiVhVcjV^heVgVb^c^b^oVggZhYjdh!
XjbegZYZ*&V,*
dXdchjbdZb\ZgVacVegdYjd$deZgVdZVjbZciVgVZX{X^VcV
XjbegZYZ%V*%
ji^a^oVdYZgZXjghdhcVijgV^h!V:begZhV/
mXjbegZYZ,+V&%%
cdedhhj^bZiVh
XjbegZYZ%V*%
XjbegZYZ*&V,*
mXjbegZYZ,+V&%%
*">cY^XVYdgZhYd8dged;jcX^dcVa
'%%,
'%%+
CYZZbegZ\VYdhVhVdcVaYdeZgdYd
+#,-*
+#%,+
CYZVYb^hhZhYjgVciZdeZgdYd
&#+))
&#%++
&&)
&+&
.-
+(
..(
-%%
CYZZbegZ\VYdhVhiZgXZ^g^oVYdhVh
CYZZhiV\^{g^dhVh
CYZZbegZ\VYdhVhVX^bVYZ)*Vcdh
CYZbja]ZgZhfjZigVWVa]VbcV:begZhV
YZXVg\dhYZX]ZVdXjeVYdhedgbja]ZgZh
CYZcZ\gdhVhfjZigVWVa]VbcV:begZhV
YZXVg\dhYZX]ZVdXjeVYdhedgcZ\gdhVh
CYZedgiVYdgZhVhYZYZX^cX^VdjcZXZhh^YVYZhZheZX^V^h
+)#9JG6I:M#G:A6IG>D6CJ6A
+%&
).*
&'!-%
,!&%
&#'&&
&#%-(
.!&%
)!.+
'),
'('
+">c[dgbVZhgZaZkVciZhfjVcidVdZmZgXX^dYVX^YVYVc^VZbegZhVg^Va
GZaVdZcigZVbV^dgZVbZcdggZbjcZgVdcV:begZhV
'%%,
BZiVh'%%-
,+!+,
,,!))
&)+
&+-
CbZgdidiVaYZVX^YZciZhYZigVWVa]d
Dhegd_ZidhhdX^V^hZVbW^ZciV^hYZhZckdak^YdheZaV:begZhV[dgVb
YZc^Ydhedg/
DheVYgZhYZhZ\jgVcVZhVajWg^YVYZcdVbW^ZciZYZigVWVa]d[dgVb
YZc^Ydhedg/
FjVcid|a^WZgYVYZh^cY^XVa!VdY^gZ^idYZcZ\dX^VdXdaZi^kVZ|
gZegZhZciVd^ciZgcVYdhVhigVWVa]VYdgZhVh!V:begZhV/
6egZk^YcX^Veg^kVYVXdciZbeaV/
6eVgi^X^eVdYdhajXgdhdjgZhjaiVYdhXdciZbeaV/
'%%,
Y^gZdY^gZdZ\ZgcX^VhMidYdhVhZbegZ\VYdhVh
BZiV'%%-
Y^gZdY^gZdZ\ZgcX^VhidYdhVhZbegZ\VYdhVh
'%%,
Y^gZdY^gZdZ\ZgcX^VhidYdhVhZbegZ\VYdhVh
MidYdhVh V8^eV
BZiV'%%-
Y^gZdY^gZdZ\ZgcX^VhidYdhVhZbegZ\VYdhVh
idYdhVh V8^eV
'%%,
cdhZZckdakZhZ\jZVhcdgbVhYVD>I
M^cXZci^kVZhZ\jZVD>I
BZiV'%%-
cdhZZckdakZg{hZ\j^g{VhcdgbVhYVD>I
^cXZci^kVg{ZhZ\j^g{VD>I
'%%,
Y^gZdY^gZdZ\ZgcX^VhMidYdhVhZbegZ\VYdhVh
BZiV'%%-
Y^gZdY^gZdZ\ZgcX^VhidYdhVhZbegZ\VYdhVh
'%%,
Y^gZdY^gZdZ\ZgcX^VhMidYdhVhZbegZ\VYdhVh
BZiV'%%-
Y^gZdY^gZdZ\ZgcX^VhidYdhVhZbegZ\VYdhVh
CVhZaZdYdh[dgcZXZYdgZh!dhbZhbdheVYgZhi^XdhZYZ
gZhedchVW^a^YVYZhdX^VaZVbW^ZciVaVYdiVYdheZaV:begZhV/
'%%,
cdhdXdch^YZgVYdhhdhj\Zg^YdhMhdZm^\^Ydh
BZiV'%%-
cdhZgdXdch^YZgVYdhhZgdhj\Zg^YdhhZgdZm^\^Ydh
FjVcid|eVgi^X^eVdYZZbegZ\VYdhVhZbegd\gVbVhYZigVWVa]d
kdajci{g^d!V:begZhV/
'%%,
cdhZZckdakZVe^Vdg\Vc^oVZ^cXZci^kV
BZiV'%%-
cdhZZckdakZg{Ved^Vg{dg\Vc^oVg{Z^cXZci^kVg{
'%%,
cV:begZhV'#)'%cdEgdXdc&)cV?jhi^V'(
BZiV'%%-
cV:begZhVTTTTTTTcdEgdXdcTTTTTTTcV?jhi^VTTTTTTT
'%%,
cV:begZhV.+cdEgdXdc-+cV?jhi^V(%
BZiV'%%-
cV:begZhVTTTTTTTcdEgdXdcTTTTTTTcV?jhi^VTTTTTTT
CbZgdidiVaYZgZXaVbVZhZXgi^XVhYZXdchjb^YdgZhVh/
YZgZXaVbVZhZXgi^XVhViZcY^YVhdjhdajX^dcVYVh/
LWbehWZ_Y_edWZejejWbWZ_ijh_Xk_h[cc_bH
:b'%%,/&#&(+#+&,
:b'%%+/&#%%&#*)%
9^hig^Wj^dYdKVadg6Y^X^dcVYd9K6/:8&
)&\dkZgcd
'*XdaVWdgVYdgZhVh
&)VX^dc^hiVh
+iZgXZ^gdh
&)gZi^Yd
)&\dkZgcd
'+XdaVWdgVYdgZhVh
-VX^dc^hiVh
&*iZgXZ^gdh
&%gZi^Yd
,"DjigVh>c[dgbVZh
DXdggZjVVaiZgVdYZkVadgZhfjZZhiVkVbXdciZbeaVYdh^cYZk^YVbZciZ#
9JG6I:M#G:A6IG>D6CJ6A#
+*
HJBG>D<G>
>c[dgbVYdXdbeaZiVbZciZ
>c[dgbVYdeVgX^VabZciZ
Cd^c[dgbVYd
E{\^cV
CkZaYZ
Vea^XVd
K^hdZZhigVi\^V
&#&
9ZXaVgVdYdEgZh^YZciZ
&#'
Eg^cX^eV^h^beVXidh!g^hXdhZdedgijc^YVYZh
"
EZgadg\Vc^oVX^dcVa
'#&
CdbZYVdg\Vc^oVd
XdcigVXVeV
'#'
Eg^cX^eV^hbVgXVh!egdYjidhZ$djhZgk^dh
XdcigVXVeV
'#(
:higjijgVdeZgVX^dcVa
XdcigVXVeV
'#)
AdXVa^oVdYVhZYZ
XdcigVXVeV
'#*
CbZgdYZeVhZhZbfjZdeZgV
XdcigVXVeV
'#+
I^edZcVijgZoV_jgY^XV
XdcigVXVeV
'#,
BZgXVYdhViZcY^Ydh
XdcigVXVeV
'#-
EdgiZYVdg\Vc^oVd
XdcigVXVeV
'#.
Eg^cX^eV^hbjYVcVh
XdcigVXVeV
'#&%
Egb^dhgZXZW^Ydh
'!&.!',
EZgaYdgZaVig^d
(#&
EZgdYdXdWZgideZadgZaVig^d
&
(#'
9ViVYdgZaVig^dVciZg^dg
&
(#(
8^XadYZZb^hhdYZgZaVig^dh
&
(#)
9VYdheVgVXdciVid
&
:hXdedZa^b^iZYdgZaVig^d
(#*
EgdXZhhdeVgVYZc^dYdXdciZYd
&
(#+
A^b^iZYdgZaVig^d
&
(#,
A^b^iVZhfjVcidVdZhXdeddja^b^iZ
&
(#-
7VhZeVgVXdch^YZgVdYZ_d^cikZcijgZhZhjWh^Y^{g^Vh
&
(#.
IXc^XVhYZbZY^dYZYVYdh
&
(#&%
GZ[dgbjaVZhYZ^c[dgbVZhejWa^XVYVhVciZg^dgbZciZ
&
(#&&
BjYVcVhcdZhXded!a^b^iZhdjbidYdYZbZY^d
&
(#&'
Hjb{g^dYZXdciZYd<G>
++
(#&(
KZg^XVdZmiZgcVYZYVYdh
&
<dkZgcVcV!Xdbegdb^hhdhZZc\V_VbZcid
)#&
:higjijgVYZ\dkZgcVcV
)#'
EgZh^YcX^VYd8dchZa]dYZ6Yb^c^higVd
)#(
BZbWgdh^cYZeZcYZciZhdjcd"ZmZXji^kdhcd8dchZa]dYZ6Yb^c^higVd
)#)
BZXVc^hbdheVgVgZXdbZcYVZhVg\dhYZ\dkZgcVcV
,!.
)#*
GZaVdZcigZgZbjcZgVdZYZhZbeZc]dYVdg\Vc^oVd
)#+
EgdXZhhdheVgVZk^iVgXdc^idhYZ^ciZgZhhZ
"
)#,
EgdXZhhdheVgVfjVa^XVZhYdhbZbWgdhYd8dchZa]dYZ6Yb^c^higVd
)#-
B^hhd!K^hd!Eg^cXe^dh!KVadgZhZ8Y^\dYZ8dcYjiV
)#.
)#&%
"
XdcigVXVeV
EgdXZY^bZcidheVgVhjeZgk^h^dcVgdYZhZbeZc]dZXdcb^Xd!hdX^VaZVbW^ZciVa
"
EgdXZhhdeVgVVjid"VkVa^VdYdYZhZbeZc]dYd8dchZa]dYZ6Yb^c^higVd
"
)%
8dbegdb^hhdhXdb^c^X^Vi^kVhZmiZgcVh
)#&&
Eg^cXe^dYVegZXVjd
)#&'
8VgiVh!eg^cXe^dhdjdjigVh^c^X^Vi^kVhZmiZgcVh
)#&(
EVgi^X^eVdZbVhhdX^VZh
"
**
:c\V_VbZcidYdhhiV`Z]daYZgh
)#&)
GZaVdYdh\gjedhZc\V_VYdheZaVZbegZhV
&
)#&*
7VhZeVgV^YZci^XVdZhZaZd
&
)#&+
6WdgYV\ZcheVgVdZc\V_VbZcid
"
)#&,
Eg^cX^eV^hiZbVhZegZdXjeVZh
"
++#9JG6I:M#G:A6IG>D6CJ6A
>c[dgbVYdXdbeaZiVbZciZ
>c[dgbVYdeVgX^VabZciZ
Cd^c[dgbVYd
E{\^cV
CkZaYZ
Vea^XVd
>C9>869DG:H9:9:H:BE:C=D
9:H:BE:C=D:8DCB>8D
9ZhZbeZc]dZXdcb^Xd
:8&
KVadgZXdcb^Xd\ZgVYdZY^hig^WjYd
'.!(&!+*
:8'
G^hXdhZdedgijc^YVYZhgZaVX^dcVYdhVbjYVcVhXa^b{i^XVh
*-
:8(
8dWZgijgVYVhdWg^\VZhYdeaVcdYZeZchd
))
:8)
6_jYVcVcXZ^gVgZXZW^YVYd\dkZgcd
"
EgZhZcVYZbZgXVYd
:8*
EgdedgdZcigZhVa{g^dbV^hWV^mdZhVa{g^dbc^bd
))
:8+
Edai^XVhZ\VhidhXdb[dgcZXZYdgZhadXV^h
*)
:8,
EgdXZY^bZcidheVgVXdcigViVdadXVa
))
*(
"
>beVXidhZXdcb^Xdh^cY^gZidh
:8-
>ckZhi^bZcidhZb^c[gV"ZhigjijgVeVgVWZcZ[X^deWa^Xd
:8.
>beVXidhZXdcb^Xdh^cY^gZidhh^\c^XVi^kdh
9:H:BE:C=D6B7>:CI6A
BViZg^V^h
:C&
BViZg^V^hjhVYdh
"
:C'
BViZg^V^hegdkZc^ZciZhYZgZX^XaV\Zb
"
+%!+&!+(
:cZg\^V
:C(
8dchjbdYZZcZg\^VY^gZiV
:C)
8dchjbdYZZcZg\^V^cY^gZiV
:C*
:cZg\^VZXdcdb^oVYV
:C+
:C,
"
+%
>c^X^Vi^kVheVgV[dgcZXZgegdYjidhZhZgk^dhXdbWV^mdXdchjbdYZZcZg\^V
"
>c^X^Vi^kVheVgVgZYjo^gdXdchjbdYZZcZg\^V^cY^gZiV
"
\jV
:C-
IdiVaYZ{\jVedg[dciZ
+'
:C.
;dciZh]Yg^XVhV[ZiVYVh
+'
:C&%
EZgXZcijVaYZ{\jVgZX^XaVYVZgZji^a^oVYV
+'
7^dY^kZgh^YVYZ
:C&&
AdXVa^oVdZiVbVc]dYZ{gZVedhhjYV
*.
:C&'
>beVXidhcVW^dY^kZgh^YVYZ
*.
:C&(
=VW^iVihegdiZ\^YdhdjgZhiVjgVYdh
*.
:C&)
<ZhidYZ^beVXidhcVW^dY^kZgh^YVYZ
*.
:C&*
CbZgdYZZheX^ZhVbZVVYVh
*.
+'
"
+'
:b^hhZh!ZjZciZhZgZhYjdh
:C&+
IdiVaYZZb^hhZhYZ\VhZhYZZ[Z^idZhij[V
:C&,
DjigVhZb^hhZhgZaZkVciZhYZ\VhZhYZZ[Z^idZhij[V
:C&-
>c^X^Vi^kVheVgVgZYjo^gZb^hhZhYZ\VhZhYdZ[Z^idZhij[V
:C&.
:b^hhZhYZhjWhi}cX^VhYZhigj^YdgVhYVXVbVYVYZdoc^d
"
:C'%
CDm!HDmZdjigVhZb^hhZhVibdh[g^XVh
"
:C'&
9ZhXVgiZidiVaYZ{\jV
+(
:C''
EZhd!i^edZYZhi^cVdYZgZhYjdh
+(
:C'(
9ZggVbVbZcidhh^\c^XVi^kdh
+(
:C')
GZhYjdhigVchedgiVYdh
+(
:C'*
>YZci^XVdZhiVijhYZegdiZdYZ[dciZh]Yg^XVh
"
EgdYjidhZhZgk^dh
:C'+
>c^X^Vi^kVheVgVb^i^\Vg^beVXidhVbW^ZciV^hYZegdYjidhZhZgk^dh
"
:C',
EgdYjidhZZbWVaV\ZchgZXjeZgVYdh
"
*-
8dc[dgb^YVYZ
:C'-
KVadgbdcZi{g^dYZbjaiVhh^\c^XVi^kVh
9JG6I:M#G:A6IG>D6CJ6A#
+,
>c[dgbVYdXdbeaZiVbZciZ
>c[dgbVYdeVgX^VabZciZ
Cd^c[dgbVYd
E{\^cV
CkZaYZ
Vea^XVd
>beVXidhYdigVchedgiZ
+'
>ckZhi^bZcidZbegdiZdVbW^ZciVa
*.
IgVchedgiZ
:C'.
<ZgVa
:C(%
9:H:BE:C=DHD8>6A
EGI>86HIG676A=>HI6H:IG676A=D9:8:CI:
:begZ\d
A6&
IgVWVa]VYdgZhedgi^edYZZbegZ\dZgZ\^d
)(
A6'
GdiVi^k^YVYZ
)(
A6(
7ZcZ[X^dhVZbegZ\VYdh
))
))
"
"
GZaVZhXdbVZbegZhV
A6)
6XdgYdhYZcZ\dX^VdXdaZi^kV
A6*
EgVodeVgVcdi^XVdhdWgZbjYVcVhcVdeZgVd
HVYZZhZ\jgVcV
A6+
GZegZhZciVdZbXdb^ihYZhVYZZhZ\jgVcV
A6,
6X^YZciZhZYdZcVhdXjeVX^dcV^h
)*
A6-
:YjXVdZigZ^cVbZcid
)*
A6.
HVYZZhZ\jgVcVZbVXdgYdhXdbh^cY^XVidh
"
)+
IgZ^cVbZcidZZYjXVd
A6&%
=dgVhYZigZ^cVbZcid
A6&&
<ZhidYZXdbeZicX^VhZVegZcY^oV\ZbXdcicjV
"
A6&'
6c{a^hZYZYZhZbeZc]d
"
"
)-
9^kZgh^YVYZZ^\jVaYVYZYZdedgijc^YVYZh
A6&(
8dbedh^dYdh\gjedhgZhedch{kZ^heZaV\dkZgcVcV
A6&)
EgdedgdYZhVa{g^dhZcigZ]dbZchZbja]ZgZh
9>G:>IDH=JB6CDH
>ckZhi^bZcidhZegdXZhhdhYZXdbegV
=G&
8dcigVidhYZ^ckZhi^bZcidhfjZ^cXajVbXa{jhjaVhYZ9^gZ^idh=jbVcdh
"
=G'
8dcigVidhYZ[dgcZXZYdgZhfjZ^cXajVbXa{jhjaVhYZ9^gZ^idh=jbVcdh
"
=G(
IgZ^cVbZcidZb9^gZ^idh=jbVcdh
"
)-
))
"
"
"
9^gZ^idhYdhedkdh^cY\ZcVh
"
<ZhidYd^beVXidYVhdeZgVZhcVhXdbjc^YVYZh
"
Cd"Y^hXg^b^cVd
=G)
8VhdhYZY^hXg^b^cVdZbZY^YVhidbVYVh
A^WZgYVYZYZVhhdX^VdZcZ\dX^VdXdaZi^kV
=G*
DeZgVZhXdbg^hXd|a^WZgYVYZYZVhhdX^VdZcZ\dX^VdXdaZi^kV
IgVWVa]d^c[Vci^a
=G+
DeZgVZhXdbg^hXdYZigVWVa]d^c[Vci^a
IgVWVa]d[dgVYddjZhXgVkd
=G,
DeZgVZhXdbg^hXdYZigVWVa]d[dgVYddjVc{ad\d
Eg{i^XVhYZhZ\jgVcV
=G-
IgZ^cVbZcidYVhZ\jgVcVZbY^gZ^idh]jbVcdh
9^gZ^idh^cY\ZcVh
=G.
HD8>:969:
8dbjc^YVYZ
HD&
8dggjed
HD'
6kVa^VdYZg^hXdgZaVX^dcVYd|Xdggjed
**
HD(
IgZ^cVbZcidZbedai^XVhVci^Xdggjed
"
HD)
BZY^YVhidbVYVhZbgZhedhiVVXVhdhYZXdggjed
"
Edai^XVheWa^XVh
HD*
EVgi^X^eVdcVZaVWdgVdYZedai^XVheWa^XVhZadWW^Zh
"
HD+
8dcig^Wj^ZhVeVgi^Ydhedai^Xdh
"
+-#9JG6I:M#G:A6IG>D6CJ6A
>c[dgbVYdXdbeaZiVbZciZ
>c[dgbVYdeVgX^VabZciZ
Cd^c[dgbVYd
E{\^cV
CkZaYZ
Vea^XVd
**
**
8dcXdggcX^VYZhaZVa
HD,
6Zh_jY^X^V^hedgXdcXdggcX^VYZhaZVa!eg{i^XVhYZigjhiZZbdcdea^d
8dc[dgb^YVYZ
HD-
BjaiVhZhVcZhcd"bdcZi{g^Vhedgcd"Xdc[dgb^YVYZVaZ^hZgZ\jaVbZcidh
G:HEDCH67>A>969:HD7G:DEGD9JID
HVYZZhZ\jgVcVYdXa^ZciZ
EG&
6kVa^VdYZbZa]dg^VVdadc\dYdX^XadYZk^YVYdhegdYjidh
"
EG'
8VhdhYZcd"Xdc[dgb^YVYZZbgZaVdVXY^\dhkdajci{g^dhgZaVX^dcVYdh|hVYZZhZ\jgVcVYdXdchjb^Ydg
"
GdijaV\ZbYZegdYjidhZhZgk^dh
EG(
EgdXZY^bZcidhYZgdijaV\ZbYZegdYjidhZhZgk^dh
"
EG)
Cd"Xdc[dgb^YVYZhZbgZaVd|gdijaV\Zb
"
EG*
Eg{i^XVhZeZhfj^hVhgZaVX^dcVYVh|hVi^h[VdYdXa^ZciZ
*,
8dbjc^XVdYZbVg`Zi^c\
EG+
6YZhdVaZ^h!cdgbVhZXY^\dhkdajci{g^dhYZXdbjc^XVdZbVg`Zi^c\
*,
EG,
Cd"Xdc[dgb^YVYZXdbXY^\dhkdajci{g^dhYZbVg`Zi^c\
*,
*,
"
Eg^kVX^YVYZYdXa^ZciZ
EG-
GZXaVbVZhgZaVX^dcVYVh|k^daVdYVeg^kVX^YVYZYZXa^ZciZh
8dc[dgb^YVYZ
EG.
BjaiVhgZaVX^dcVYVhVd[dgcZX^bZcidZjhdYdhegdYjidhZhZgk^dh
CkZaYZVea^XVd<G>
9
9!
8!
7!
7kje
Z[YbWhWZe
;nWc_dWZe
feh
j[hY[_hei
;nWc_dWZe
f[bW=H?
9JG6I:M#G:A6IG>D6CJ6A#
+.
>C;DGB6v:H8DGEDG6I>K6H
8DCH:A=D9:69B>C>HIG6vD
HJ7H>9>G>6HCD7G6H>A
EgZh^YZciZ
9>G:IDG>69:G:A6v:H8DB
>CK:HI>9DG:H
DaVkd:\nY^dHZiWVa
9^gZidg/Eac^dYd6bVgVaE^c]Z^gd
9jgViZm8dbZgX^Va:medgiVYdgVH#6#
IZa#/&&"(&,.",',.
6k#EVja^hiV!&#.(-7ZaVK^hiV
;Vm/&&"(&,.",(%%
%&(&%".)'HdEVjad"HE
K^XZ"egZh^YZciZh
AVZgiZHZiWVa;^a]d
BVg^VYZAdjgYZh:\nY^dK^aaZaV
EVjadHZiWVaCZid
kecVcXZ^gV#XdgedgVi^kV5YjgViZm#Xdb#Wg
<ZgZciZ/6akVgdEZciZVYdYZ8Vhigd
IZa#/&&"(&,.",'*.
8dchZa]Z^gdh
;Vm/&&"(&,.",*%%
6a[gZYd:\nY^d6ggjYVK^aaZaV;^a]d
^ckZhi^YdgZh5YjgViZm#Xdb#Wg
?V^gG^WZ^gdYVH^akVCZid
?V^gd8jeZgi^cd
?dh8VgadhBdgVZh6WgZj
DaVkd:\nY^dHZiWVa?g#
6I:C9>B:CID6DH68>DC>HI6H
6k#EVja^hiV!&#.(-&+VcYVg7ZaVK^hiV
%&(&%".)'HdEVjad"HE
8V^mVEdhiVa/,+&&
8DCH:A=D;>H86A
IZa#/&&"(&,.",*()
EgZh^YZciZ
;Vm/&&"(&,.",(&*
EVjadG^XVgYdBdgVZh6bVgVa
8dchZa]Z^gdh
VX^dc^hiVh5YjgViZm#Xdb#Wg
>gVcH^fjZ^gVA^bV
B{gX^dAjX^VcdBVcX^c^
9>G:IDG>6
89><DH9:C:<D8>6vDC67DK:HE6
9JG6(VZhdgY^c{g^Vh
9JG6)VZhegZ[ZgZcX^V^h
9jgVdgVH#6#
HJ7H>9>G>6HCD:MI:G>DG
9ZXVE^VooV
OVkVaZiV!&.%&)(,
7jZcdh6^gZh!6g\Zci^cV
IZa#/%%*)&&").%."%.%%
;Vm/%%*)&&").%."%..'
9ZXVCdgi]6bZg^XV
&'%-:VhiiX]ZhiZg9g^kZ!Hj^iZ'%'
=^\]Ed^ciC8
','+*(&+*JH6
Idaa[gZZ/-,,"-%'&'*%
IZa#/%%&"((+"--*"&''*
;Vm/%%&"((+"--*"&*%&
9jgViZmCdgi]6bZg^XV
&'%-:VhiiX]ZhiZg9g^kZ!Hj^iZ'%'
6J9>IDG:H>C9:E:C9:CI:H
=^\]Ed^ciC8
Eg^XZlViZg]djhZ8ddeZgh6jY^idgZh
','+*(&+*JH6
>cYZeZcYZciZhH#6#
IZa#/%%&"((+"--*"&*%%
K^XZ"egZh^YZciZhZmZXji^kdh
6k#;gVcX^hXdBViVgVood!&#)%%
;Vm/%%&"((+"--*"&*%&
<j^a]ZgbZ6gX]ZgYZ8Vhi^a]d
%*%%&".%(HdEVjad"HE
Eac^dYd6bVgVaE^c]Z^gd
IdggZIdg^cd\jV7gVcXV
GVjaEZciZVYd
IZa/&&"(+,)"'%%%
EgZh^YZciZ
EVjadHZiWVaCZid
9^gZidgZh"ZmZXji^kdh
:cg^fjZ?jYVhBVcjWZch
B{g^d8dadbWZaa^;^a]d
9^gZidgZh
6aZmVcYgZ8dZa]dCZidYdCVhX^bZcid
6cidc^d?dVfj^bYZDa^kZ^gV
6cidc^dBVhh^cZaa^
:aX^Y^g:aX^d7Zgcjhh^
;a{k^d9^VhHdVgZh
BVgXd6cic^dB^aaZd
,%#9JG6I:M#G:A6IG>D6CJ6A
;Vm/&&"(+,)"'%,,
8V^mVEdhiVa/+&%%*
H:9:
9jgViZmH#6#
6k#EVja^hiV!&#.(-*VcYVg7ZaVK^hiV
%&(&%".)'HdEVjad"HE
8V^mVEdhiVa/,+&&
IZa#/&&"(&,.",,((
lll#YjgViZm#Xdb#Wg
9jgViZm:jgdeZ
7ViiZahZhiZZclZ\)**9
7jh^cZhhEVg`'-%%
BZX]ZaZc7Za\^
IZa#/%%('"&*"'-"+%",%
;Vm/%%('"&*"'-"+%",.
8Gw9>IDH
8DDG9:C6vD
;dide{\^cV'&
<ZgcX^VYZGZaVZhXdb>ckZhi^YdgZh
BZiVa/A^c]V8jWd
8DCI:9D:G:96vD
:Y^idgV8dciVY^cd
AdjV/8jWVfjVYgVYVXdbWd_dgZYdcYd!YZ
hdWgZedgZbVbW^ZciZXg^VYdedg9Zc^hZOjWV
BZiVa/8]jkZ^gdfjVYgVYd
EGD?:ID<G;>8D
I]ZBZY^V<gdje
>BEG:HHD
<g{XV7gVhedg
;dide{\^cV'(
BZiVa/A^c]V9gZVb!hVWdcZiZ^gVfjVYgViiV
AdjV/8jWVk{akjaVdXjaiVYZhdWgZedgZb
VbW^ZciZXg^VYdedg6cic^d;ZggZ^gV?jc^dgZ
B{g^d8Zahd7ZgcVgYZh
;DIDH
;dide{\^cV%,
9jgVddg8VbjgV9ZiVa]Z:hhZcX^Va
;dide{\^cV&&
BZiVa/A^c]V8jWd
AdjV/8jWVZheZX^VaYZhZb^"ZcXV^mZfjVYgVYV
;dide{\^cV&(
9jgVddg9Zh^\c8VgkVa]d8gZiV
;dide{\^cV&*
9jgVddg=dbZ6bcYdaV8jgVVd
;dide{\^cV&,
BkZa6YgZhhZZbB9;XdbVXVWVbZcidZb
7V^mVEgZhhd7EXdbYZh^\cYdHijY^d7daV
;dide{\^cV&BkZa@^iX]ZchZbB9EXdbVXVWVbZcidZb
7V^mVEgZhhd7EXdbYZh^\cYZ?dh7dcZii^
;dide{\^cV')
BZiVa/A^c]V8dciZbedg}cZV
AdjV/8jWVgZiVc\jaVgHg^ZHa^b
;dide{\^cV'+
BZiVa/A^c]V9gZVb
AdjV/8jWVk{akjaVdXjaiVYZVed^dZbVbW^ZciZ
Xg^VYdedg6cVBVg^VK^Z^gVHVcidhZ8Vb^aV
K^Z^gVHVcidh
;dide{\^cV((
BZiVa/A^c]VFjVYgViiV8a{hh^XV
AdjV/A^c]VA--ZbVbW^ZciZXg^VYdedg
;ZgcVcYVBVgfjZh
;dide{\^cV)(
:kZcideVigdX^cVYdeZaV9ZXV
;dide{\^cV*,
9jgVddgCVijgZ8VgkVa]dK^ZcVZbVbW^ZciZ
Xg^VYdedgKVcZhhV<j^bVgZh
6<G69:8>B:CIDH
CdhhdhV\gVYZX^bZcidhVdhXdaVWdgVYdgZhYV9jgViZmZeVgi^X^eVciZhYdhegd\gVbVhYZhZckdak^Ydh
^ciZgcVbZciZ!eZaVeVgi^X^eVdcVh[didhfjZ^ajhigVbZhiZgZaVig^dZVhjVgZVa^oVd#
9JG6I:M#G:A6IG>D6CJ6A#
,&
6k#EVja^hiV!&#.(-#*VcYVg
7ZaVK^hiV#%&(&%.)'
HdEVjad#HE#7gVh^a
lll#YjgViZm#Xdb#Wg