LG Electronics USA L04B PCS GSM Phone User Manual

LG Electronics USA PCS GSM Phone

Users Manual

Part 15.21 statement
" Change or Modifications that are not expressly approved by the manufacturer could void
the user's authority to operate the equipment. “
Part 15.105 statement
This equipment has been tested and found to comply with the limits for a class B digital device, pursuant to
Part 15 of the FCC Rules. These limits are designed to provide reasonable protection against harmful interference
in a residential installation. This equipment generates uses and can radiate radio frequency energy and, if not installed
and used in accordance with the instructions, may cause harmful interference to radio communications. However, there
is no guarantee that interference will not occur in a particular installation. if this equipment does cause harmful
interference or television reception, which can be determined by turning the equipment off and on, the user is
encouraged to try to correct the interference by one or more of the following measures:
- Reorient or relocate the receiving antenna.
- Increase the separation between the equipment and receiver.
- Connect the equipment into an outlet on a circuit different from that to which the receiver is connected.
- Consult the dealer or an experienced radio/TV technician for help.
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Part 15 Class B Compliance
This device and its accessories comply with part15 of FCC rules.
Operation is subject to the following two conditions:
(1) This device & its accessories may not cause harmful interference.
(2) This device & its accessories must accept any interference received,
including interference that may cause undesired operation.
Body-worn Operation
This USB modem has been tested for typical body-worn operations
with the distance of 0.79inches (2.0cm) from the user’s body.
To comply with FCC RF exposure requirements, a minimum separation distance
of 0.79inches(2.05cm) must be maintained from the user's body.
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t<
0&
International call access code
for the country you stay
the universal number
General Inquiries
< Information Center>
Service available in: English, Portuguese, Chinese, Spanish, Korean.
Available from mobile phones and PHSs.
From mobile phones
(In Japanese only)
From land-line phones
(In Japanese only)
Unavailable from land-line phones, etc. Available from mobile phones and PHSs.
For Applications or Repairs and After-Sales Service, please contact the above-mentioned information center or the Shop
etc. near you on the website or the i-mode site.
i-mode site iMenu
Repairs
From mobile phones
(In Japanese only)
Unavailable from land-line phones, etc.
From land-line phones
(In Japanese only)
Available from mobile phones and PHSs.
Loss or theft of terminal or payment of
cumulative cost overseas
< Information Center> (available 24 hours a day)
From mobile phones
You are charged a call fee to Japan when calling from a land-line phone, etc.
If you use L-04B, you should dial the number +81-3-5366-3114
the universal number, visit the International Services website. the universal number, visit the International Services website.
(to enter '+', press and hold the '0' key for at least one second).
From land-line phones
<Universal Number>
You might be charged a domestic call fee according to the call rate for the country you stay.
From mobile phones
You are charged a call fee to Japan when calling from a land-line phone, etc.
You might be charged a domestic call fee according to the call rate for the country you stay.
When using your mobile phone in a public place, don't forget to show common courtesy and consideration to others around you.
To prevent damage to the environment,
bring used battery packs to a
service counter, a agent or a
recycle center.
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a-RJVEVIHTSVX
b)EVTMIGI7TIEOIV
c(MWTPE]
dM1IRYOI]
 (MWTPE]XLIQEMRQIRY
eg1EMPOI]
 (MWTPE]XLIQEMPQIRY
fA7XEVXOI]
 1EOIVIGIMZIEGEPP
g(MEPOI]W
)RXIVETLSRIRYQFIVSVGLEVEGXIV
h*
4YFPMGQSHI(VMZIQSHI
OI]
iY1YWMG+YMHIOI]
(MWTPE]XLIQYWMGWGVIIR
jN1YPXMXEWOOI]
 (MWTPE]XLIXEWOPMWX
k'LEVKMRKXIVQMREPW
l-RRIVGEQIVE
m-PPYQMREXMSRWIRWSV
n1YPXM7IPIGXSV
oI
MQSHIM TTPMOI]
 (MWTPE]XLIMQSHIQIRY
pG'EQIVEOI]
(MWTPE]XLIWXMPPMQEKIWLSSXMRK
WGVIIR
qQ'PIEVM'LERRIPOI]
6IXYVRXSXLITVIZMSYWWXEXISV
XSXLI7XERHF]HMWTPE]
rP4S[IV)\MXOI]
 )RHEGEPPSVI\MXEJYRGXMSR
s#1ERRIVQSHIOI]
tT8:OI]
(MWTPE]XLI7IK[EXGLMRKWGVIIR
u1SYXLTMIGI
v-PPYQMREXMSR
w)\XIVREPGSRRIGXSVXIVQMREP
x3YXIVGEQIVE
y&EGOGSZIV
(SRSXVIQSZIXLIWXMGOIVSRXLI
FEGOWMHISJXLI&EGOGSZIV-J
VIQSZMRKMXXLI-'GEVHGSRXIRXW
QE]RSXFIVIEHSV[VMXXIR
zERXIRRE
8LIERXIRREMW
MRWMHIXLIXIVQMREP
8SGSQQYRMGEXIMRFIXXIV
GSRHMXMSREZSMHGSZIVMRKXLI
ERXIRRETEVX[MXL]SYVLERHW
AQEVO
B7XVETLSPI
CF E :SPYQIOI]
%HNYWXXLIZSPYQI
DQMGVS7(GEVHWPSX
9WMRKIEVTLSRIW
'SRRIGXSTXMSREPIEVTLSRIWGSQTEXMFPI[MXL
XLII\XIVREPGSRRIGXSVXIVQMREP
-J]SYYWIXLIMRGSQTEXMFPIIEVTLSRIW
GSRRIGXXLISTXMSREPGSRZIVWMSRTPYK
EHETXIVXSXLIIEVTLSRIW
)EVTLSRIXIVQMREP
*PEXX]TI
*PEXTPYKJSVXLIxEXTPYK
)EVTLSRI1MGVSTLSRI
[MXL7[MXGL
4PYK
)\'SRRIGXMRKXLI*PEXTPYK)EVTLSRI
1MGVSTLSRI[MXL7[MXGLSTXMSREP
4VIGEYXMSRW%0;%=7*3003;8,)7)46)'%98-327
b
&IJSVIYWMRK]SYVXIVQMREPVIEHXLIWI4VIGEYXMSRW
GEVIJYPP]WSXLEX]SYGERYWIMXGSVVIGXP]%JXIVVIEHMRKXLIWI
TVIGEYXMSRWOIITXLMWQERYEPJSVPEXIVVIJIVIRGI
b
&IWYVIXSSFWIVZIXLIWITVIGEYXMSRWFIGEYWIXLI]EVI
MRXIRHIHXSTVSXIGX]SYSVSXLIVWEVSYRH]SYJVSQGEYWMRK
MRNYV]ERHXSEZSMHHEQEKIXSXLITVSTIVX]
b
8LIW]QFSPWFIPS[MRHMGEXIXLIPIZIPWSJHERKIVSVHEQEKI
XLEXQE]SGGYVMJXLITEVXMGYPEVTVIGEYXMSRMWRSXSFWIVZIHERH
XLI*31%XIVQMREPMWYWIHMQTVSTIVP]
(%2+)6
8LMWW]QFSPMRHMGEXIW
XLEXMRGSVVIGXLERHPMRK
QE]HMVIGXP]SV
MQQIHMEXIP]GEYWIHIEXL
SVWIVMSYWMRNYV]
;%62-2+
8LMWW]QFSPMRHMGEXIW
XLEXMRGSVVIGXLERHPMRK
TSWIWEVMWOSJGEYWMRK
HIEXLSVWIVMSYWMRNYV]
'%98-32
8LMWW]QFSPMRHMGEXIW
XLEXMRGSVVIGXLERHPMRK
TSWIWEVMWOSJGEYWMRK
MRNYV]SVHEQEKIXSXLI
TVSHYGXSVTVSTIVX]
b
8LIJSPPS[MRKW]QFSPWMRHMGEXIWTIGMwGHMVIGXMSRW
(SRtX
(IRSXIWXLMRKWRSXXSHS4VSLMFMXMSRW
2S
HMWEWWIQFP]
(IRSXIWRSXXSHMWEWWIQFPI
2S
[IXLERHW
(IRSXIWRSXXSXSYGL[MXL[IXLERHW
2S
PMUYMHW
(IRSXIWRSXXSYWI[LIVIMXGSYPHKIX
[IXSVRSXXS[IXMX
(S
(IRSXIWQERHEXSV]MRWXVYGXMSRW
QEXXIVWXLEXQYWXFIGSQTPMIH[MXL
9RTPYK
(IRSXIWXSYRTPYKJVSQXLISYXPIX
b
4VIGEYXMSRWEVII\TPEMRIHMRXLIJSPPS[MRKWIGXMSRW
+IRIVEP4VIGEYXMSRWJSV8IVQMREP&EXXIV]4EGO
%HETXIVERH9-1 4
4VIGEYXMSRWJSV8IVQMREP 4
4VIGEYXMSRWJSV&EXXIV]4EGO 4
4VIGEYXMSRWJSV%HETXIV 4
4VIGEYXMSRWJSV9-1 4
4VIGEYXMSRWSR9WMRKRIEV)PIGXVSRMG1IHMGEP)UYMTQIRX
   4  
+IRIVEP4VIGEYXMSRWJSV
*31%8IVQMREP&EXXIV]
4EGO%HETXIVERH9-1
(%2+)6
(SRtX
(SRSXYWIWXSVISVPIEZIXLI
XIVQMREPERHMXW
EGGIWWSVMIWMRPSGEXMSRW
WYFNIGXXSLMKLXIQTIVEXYVIW
WYGLEWRIEVwVIMRHMVIGX
WYRPMKLXSVMRWMHIEGEVYRHIV
XLILSXWYR
8LIHIZMGIWGSYPHFIHIJSVQIH
SVQEPJYRGXMSRSVXLIFEXXIV]TEGO
QE]PIEOSZIVLIEXI\TPSHISV
MKRMXIVIWYPXMRKMRXLIHIXIVMSVEXMSR
SJTIVJSVQERGIERHWLSVXIRMRKSJ
XLIPMJISJHIZMGIW%PWSTEVXSJXLI
GEWIGSYPHKIXLIEXIHGEYWMRK
FEVIWOMRFYVRW
2S
HMWEWWIQFP]
(SRSXHMWEWWIQFPISV
VIQSHIPXLIXIVQMREP
ERHMXWEGGIWWSVMIW(SRSX
WSPHIVXLIQ
*MVIMRNYV]IPIGXVMGWLSGOSV
QEPJYRGXMSRQE]VIWYPX8LI
FEXXIV]TEGOQE]PIEOSZIVLIEX
I\TPSHISVGEXGLwVI
2S
PMUYMHW
(SRSXKIXXLIXIVQMREP
ERHMXWEGGIWWSVMIW[IX
-JPMUYMHWWYGLEW[EXIVSVTIX
YVMRIKIXSRXSXLIQSZIVLIEXMRK
IPIGXVMGWLSGOwVIQEPJYRGXMSR
SVMRNYV]IXGQE]VIWYPX4E]
EXXIRXMSRXSXLITPEGISJYWIERH
XLI[E]SJLERHPMRK
(S
9WISRP]XLIFEXXIV]TEGOW
ERHEHETXIVWWTIGMwIHF]
9WMRKXLIEGGIWWSVMIWSXLIVXLER
WTIGMwIHSRIQE]GEYWIXLI
XIVQMREPFEXXIV]TEGOERH
SXLIVHIZMGIWXSPIEOSZIVLIEX
I\TPSHIMKRMXISVQEPJYRGXMSR
;%62-2+
(SRtX
(SRSXTYXXLIFEXXIV]TEGO
XIVQMREPEHETXIVSV
9-1MRLIEXMRKETTPMERGIW
WYGLEWQMGVS[EZIWSVLMKL
TVIWWYVIGSRXEMRIVW
8LIFEXXIV]TEGOQE]PIEO
SZIVLIEXI\TPSHISVMKRMXI%PWS
XLIXIVQMREPSVEHETXIVQE]
SZIVLIEXWQSOISVMKRMXISVXLI
GMVGYMXFSEVHWQE]FIHEQEKIH
(SRtX
(SRSXXLVS[XLI
XIVQMREPERHMXWEGGIWWSVMIW
SVWYFNIGXXLIQXSWIZIVI
WLSGOW
8LIFEXXIV]TEGOQE]PIEO
SZIVLIEXI\TPSHISVMKRMXI%PWS
XLIHIZMGIWQE]QEPJYRGXMSRSV
GEXGLwVI
(SRtX
/IITGSRHYGXMZIJSVIMKR
SFNIGXWQIXEPTIRGMPPIEH
IXGE[E]JVSQXLIGLEVKMRK
XIVQMREPWSVI\XIVREP
GSRRIGXSVW(SRSXMRWIVX
WYGLSFNIGXWMRWMHIXLI
XIVQMREP
*MVISVQEPJYRGXMSRQE]VIWYPXJVSQ
EWLSVXGMVGYMX
(S
1EOIWYVIXSXYVRXLITS[IV
SJEQSFMPITLSRISJJFIJSVI
]SYKSRIEVxEQQEFPIKEW
WYGLEWEKEWWXEXMSR(SRSX
GLEVKIXLIXIVQMREP
'EXGLMRKwVIQE]VIWYPX
&IWYVIXSXYVRXLITS[IVSJJ
FIJSVI]SYYWI3WEMJY/IMXEMMRE
TPEGIWYGLEWEKEWWXEXMSR-J
XLI-'GEVHPSGOMWWIXYRPSGOXLI
-'GEVHPSGOFIJSVIXYVRMRKXLI
TS[IVSJJ
(S
-J]SYRSXMGIER]WXVERKI
WQIPPWSZIVLIEXMRK
HMWGSPSVEXMSRSVHIJSVQEXMSR
[LMPIYWMRKGLEVKMRKSV
WXSVMRKXLI*31%XIVQMREP
MQQIHMEXIP]XEOIXLI
JSPPS[MRKEGXMSRW
6IQSZIXLITS[IVTPYKJVSQXLI
SYXPIXSVGMKEVIXXIPMKLXIVWSGOIX
8YVRXLI*31%XIVQMREPTS[IVSJJ
6IQSZIXLIFEXXIV]TEGOJVSQXLI
*31%XIVQMREP
-J]SYGSRXMRYIXSYWIXLI
*31%XIVQMREPERHMXW
EGGIWWSVMIWSZIVLIEXMRK
I\TPSWMSRMKRMXMSRSVPIEOEKI
SJXLIFEXXIV]TEGOQE]VIWYPX
'%98-32
(SRtX
(SRSXTPEGIXLI*31%
XIVQMREPERHMXWEGGIWWSVMIW
MRYRWXEFPITPEGIWWYGLEW
[SFFP]XEFPIWSVWPSTMRK
WLIPZIW
8LI*31%XIVQMREPSVMXW
EGGIWWSVMIWQE]JEPPVIWYPXMRKMR
MRNYV]SVQEPJYRGXMSR
(SRtX
(SRSXWXSVIXLI*31%
XIVQMREPERHMXWEGGIWWSVMIW
MRLYQMHSVHYWX]TPEGIWSV
MRLMKLXIQTIVEXYVIW
1EPJYRGXMSRQE]VIWYPX
(S
-JGLMPHVIRYWIXLI*31%
XIVQMREPEKYEVHMERWLSYPH
I\TPEMRXLIWEJIX]MRWXVYGXMSRW
ERHGSVVIGXSTIVEXMSRW8LI
KYEVHMERWLSYPHEPWSQEOI
WYVIXLEXXLIMRWXVYGXMSRWEVI
JSPPS[IHHYVMRKYWI
-
RNYV]QE]VIWYPX
(S
/IITSYXSJXLIVIEGLSJ
FEFMIWERHMRJERXW
%GGMHIRXEPW[EPPS[MRKSVMRNYV]
QE]VIWYPX
(S
4E]I\XVEEXXIRXMSR[LIR]SY
YWIXLI*31%XIVQMREPJSVER
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-JXLIFEXXIV]xYMHKIXWMRXS
]SYVI]IWHSRSXVYFXLIQ
-QQIHMEXIP]xYWL[MXLGPIER
[EXIVERHGSRWYPXEHSGXSV
&PMRHRIWWQE]VIWYPX
;%62-2+
(SRtX
-JEREFRSVQEPMX]SGGYVWXS
XLIFEXXIV]TEGO[LIRMXMW
HEQEKIHSVHIJSVQIHF]
XLI*31%XIVQMREPFIMRK
HVSTTIHWXSTYWMRKXLI
*31%XIVQMREPMQQIHMEXIP]
8LIPIEOEKISZIVLIEXMRK
I\TPSWMSRSVMKRMXMSRSJXLI
FEXXIV]TEGOSVQEPJYRGXMSRSJXLI
HIZMGIWSVwVIQE]VIWYPX
(S
-JGLEVKMRKMWRSXGSQTPIXIH
[LIRXLIWTIGMwIHGLEVKMRK
XMQIIPETWIHWXSTGLEVKMRK
8LIPIEOEKISZIVLIEXMRK
I\TPSWMSRSVMKRMXMSRSJXLI
FEXXIV]TEGOQE]VIWYPX
(S
-JXLIFEXXIV]PIEOWSVIQMXW
WXVERKIWQIPPMQQIHMEXIP]
WXSTYWMRKXLI*31%XIVQMREP
ERHOIITMXE[E]JVSQwVI
8LIPIEOIHFEXXIV]xYMHQE]
MKRMXIVIWYPXMRKMRwVISVFYVWX
(S
1EOIWYVIXLEX]SYVTIXWHS
RSXFMXIXLIFEXXIV]TEGO
8LIPIEOEKISZIVLIEXMRK
I\TPSWMSRSVMKRMXMSRSJXLI
FEXXIV]TEGOSVQEPJYRGXMSRSJXLI
HIZMGIWSVwVIQE]VIWYPX
'%98-32
(SRtX
(SRSXHMWTSWISJI\LEYWXIH
FEXXIVMIW[MXLSVHMREV]
LSYWILSPH[EWXI
-KRMXMSRSVIRZMVSRQIRXEPHEQEKI
QE]VIWYPX'SZIVXLIFEXXIV]
XIVQMREPW[MXLERSRGSRHYGXMZI
XETIERHXEOIXLIQXSXLI
HSGSQS7LSTIXGSVHMWTSWI
SJXLIQMREGGSVHERGI[MXLPSGEP
[EWXIHMWTSWEPVIKYPEXMSRW
(SRtX
(SRSXGLEVKIE[IXFEXXIV]
TEGO
8LIFEXXIV]TEGOQE]SZIVLIEX
I\TPSHISVMKRMXI
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-JFEXXIV]xYMHKIXWSR]SYV
WOMRSVGPSXLIWMQQIHMEXIP]
WXSTYWMRKERHxYWL[MXL
GPIER[EXIV
-RNYV]XS]SYVWOMRQE]VIWYPX
4VIGEYXMSRWJSV
%HETXIV
;%62-2+
(SRtX
(SRSXYWIEHEQEKIH
EHETXIVGSVHSVTS[IVGSVH
)PIGXVMGWLSGOSZIVLIEXMRKSVwVI
QE]VIWYPX
(SRtX
(SRSXYWIXLI%'EHETXIV
ERHHIWOXSTLSPHIVMRETPEGI
[MXLLMKLLYQMHMX]WYGLEWE
FEXLVSSQ
)PIGXVMGWLSGOQE]VIWYPX
(SRtX
8LI('EHETXIVMWJSV
YWISRP]MRERIKEXMZI
KVSYRHIHZILMGPI(SRSXYWI
MXMRETSWMXMZIKVSYRHIH
ZILMGPI
*MVIQE]VIWYPX
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XSYGLXLI*31%XIVQMREPSV
EHETXIV
0MKLXRMRKSVIPIGXVMGWLSGOQE]
VIWYPX
(SRtX
(SRSXWLSVXGMVGYMXXLI
GLEVKMRKXIVQMREPW[LIR
XLIEHETXIVMWTPYKKIHMRXS
ERSYXPIXSVGMKEVIXXIPMKLXIV
WSGOIX%PWSRIZIVXSYGL
XLIGLEVKMRKXIVQMREPW[MXL
wRKIVWSVSXLIVFEVIWOMR
*MVIQEPJYRGXMSRIPIGXVMGWLSGO
SVMRNYV]QE]VIWYPX
(SRtX
4PEGIXLIGLEVKIVSVHIWOXST
LSPHIVMREWXEFPIPSGEXMSR
[LMPIGLEVKMRK%PWSHSRSX
GSZIVSV[VETXLIGLEVKIVSV
HIWOXSTLSPHIV[MXLGPSXLSV
FIHHMRK
8LI*31%XIVQMREPQE]HVSTSJJ
SVGLEVKIVERHHIWOXSTLSPHIV
QE]SZIVLIEXVIWYPXMRKMRwVISV
QEPJYRGXMSR
(SRtX
(SRSXTPEGILIEZ]SFNIGXW
SRXLIEHETXIVGSVHSVTS[IV
GSVH
)PIGXVMGWLSGOSVwVIQE]VIWYPX
2S
[IXLERHW
(SRSXXSYGLXLIEHETXIVGSVH
SVSYXPIX[MXL[IXLERHW
)PIGXVMGWLSGOQE]VIWYPX
(S
9WIXLIEHETXIVEXXLI
WTIGMwIHTS[IVWSYVGIERH
ZSPXEKI
*EMPMRKXSHSWSQE]VIWYPXMRwVI
SVQEPJYRGXMSR;LIR]SYYWI
XLI*31%XIVQMREPSZIVWIEW
YWIER%'EHETXIVETTVSTVMEXI
JSVXLIPSGEXMSR
%'EHETXIV:%'
('EHETXIV:('JSV
RIKEXMZIKVSYRHIHZILMGPIW
SRP]
%'EHETXIVEZEMPEFPISZIVWIEW
XS:%''SRRIGXSRP]
[MXLLSYWILSPH%'SYXPIX
(S
-JXLIJYWISJXLI('EHETXIV
FPS[WVITPEGIMX[MXLXLI
WTIGMwIHJYWI
8LIYWISJERMRGSVVIGXJYWIQE]
GEYWIwVISVQEPJYRGXMSR7II
IEGLMRWXVYGXMSRQERYEPJSVXLI
WTIGMwIHJYWI
(S
/IITXLITS[IVTPYKHYWX
JVII
*MVIQE]VIWYPX
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;LIRTPYKKMRKXLI%'
EHETXIVMRXSERSYXPIXTPYKMX
MRwVQP]FIMRKGEVIJYPRSXXS
PIXMXGSRXEGX[MXLER]QIXEP
SFNIGXWWYGLEWQIXEPWXVET
)PIGXVMGWLSGOEWLSVXGMVGYMXSV
wVIQE]VIWYPX
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;LIRVIQSZMRKXLIEHETXIV
JVSQXLISYXPIXSVGMKEVIXXI
PMKLXIVWSGOIXHSRSXJSVGMFP]
TYPPXLIEHETXIVGSVHSVTS[IV
GSVHMRWXIEHLSPHXLITS[IV
TPYKERHTYPPMXSYX
-J]SYTYPPXLITPYKF]XLIGSVH
XLIGSVHQE]FIHEQEKIH
VIWYPXMRKMRIPIGXVMGWLSGOSVwVI
9RTPYK
-J]SYHSRSXYWIXLIEHETXIV
JSVEPSRKTIVMSHSJXMQI
YRTPYKXLITS[IVTPYKJVSQ
XLISYXPIX
)PIGXVMGWLSGOwVISVQEPJYRGXMSR
QE]VIWYPX
9RTPYK
-JPMUYMHWWYGLEW[EXIVKIX
MRXSXLIEHETXIVYRTPYKXLI
TS[IVGSVHJVSQXLISYXPIX
SVGMKEVIXXIPMKLXIVWSGOIX
MQQIHMEXIP]
)PIGXVMGWLSGOWQSOISVwVI
QE]VIWYPX
9RTPYK
&IJSVIGPIERMRKTYPPXLITPYK
SYXSJXLISYXPIXSVGMKEVIXXI
PMKLXIVWSGOIX
)PIGXVMGWLSGOQE]VIWYPX
4VIGEYXMSRWJSV9-1
'%98-32
(S
&IGEVIJYPRSXXSXSYGLXLI
IHKISJ9-1-'TSVXMSR[LIR
VIQSZMRKMX
=SYV LERHWS VwRKIVWQE]FI
MRNYVIH
4VIGEYXMSRWSR9WMRKRIEV
)PIGXVSRMG1IHMGEP)UYMTQIRX
b
8LIJSPPS[MRKHIWGVMTXMSRQIIXW
+YMHIPMRISRXLI9WISJ6EHMS
GSQQYRMGEXMSR)UYMTQIRXWYGLEW
'IPPYPEV8IPITLSRIW7EJIKYEVHWJSV
)PIGXVSRMG1IHMGEP)UYMTQIRXF]
XLI)PIGXVSQEKRIXMG'SQTEXMFMPMX]
'SRJIVIRGI.ETER
;%62-2+
(S
'SQTP][MXLXLIJSPPS[MRK
MRWXVYGXMSRWMRWMHIQIHMGEP
JEGMPMXMIW
(SRSXFVMRKXLI*31%
XIVQMREPMRSTIVEXMRKVSSQW
MRXIRWMZIGEVIYRMXW-'9SV
GSVSREV]GEVIYRMXW''9
8YVRXLI*31%XIVQMREPSJJ
MRLSWTMXEP[EVHW
8YVRXLI*31%XIVQMREP
SJJMRLSWTMXEPPSFFMIW
ERHGSVVMHSVWMJIPIGXVSRMG
QIHMGEPHIZMGIWGSYPHFI
RIEVF]
-JXLIQIHMGEPJEGMPMX]LEW
WTIGMwG^SRIW[LIVIYWI
SVTSWWIWWMSRSJQSFMPI
TLSRIWMWTVSLMFMXIHJSPPS[
XLSWIVIKYPEXMSRW
-JXLI*31%XIVQMREPMWWIX
XSFIXYVRIHSR
EYXSQEXMGEPP]GERGIPXLI
WIXXMRKFIJSVIXYVRMRKMXSJJ
(S
8YVRXLI*31%XIVQMREPSJJMR
GVS[HIHTPEGIWWYGLEWSRE
XVEMR[LIVIMQTPERXIHGEVHMEG
TEGIQEOIVSVHIwFVMPPEXSV
[IEVIVWGSYPHFIRIEVF]
3TIVEXMSRSJERMQTPERXIH
GEVHMEGTEGIQEOIVSVMQTPERXIH
HIwFVMPPEXSVQE]FIEJJIGXIHF]
VEHMS[EZIW
(S
-J]SYYWIERMQTPERXIH
GEVHMEGTEGIQEOIVSV
MQTPERXIHHIwFVMPPEXSVYWI
SVGEVV]XLI*31%XIVQMREP
GQSVQSVIE[E]JVSQXLI
MQTPERXIHGEVHMEGTEGIQEOIV
SVMQTPERXIHHIwFVMPPEXSV
3TIVEXMSRWSJERMQTPERXIH
GEVHMEGTEGIQEOIVSVMQTPERXIH
HIwFVMPPEXSVQE]FIEJJIGXIHF]
VEHMS[EZIW
(S
4EXMIRXWYWMRKIPIGXVSRMG
QIHMGEPIUYMTQIRXSXLIV
XLERMQTPERXIHGEVHMEG
TEGIQEOIVWSVMQTPERXIH
HIwFVMPPEXSVWSYXWMHIQIHMGEP
JEGMPMXMIWJSVXVIEXQIRXEX
LSQIIXGWLSYPHGLIGOXLI
MRxYIRGISJVEHMS[EZIWYTSR
XLIIUYMTQIRXF]GSRWYPXMRK
XLIQERYJEGXYVIV
3TIVEXMSRWSJIPIGXVSRMG
QIHMGEPIUYMTQIRXQE]FI
EJJIGXIHF]VEHMS[EZIW
+IRIVEPRSXIW
b(SRSX[IXXLIIUYMTQIRX
8LI*31%XIVQMREPFEXXIV]TEGO
EHETXIVERH9-1EVIRSX[EXIVTVSSJ
(SRSXYWIXLIQMRTPEGIW[MXLLMKL
LYQMHMX]WYGLEWEFEXLVSSQSV
[LIVIVEMRQE]KIXXLIQ[IX-J]SY
EVIGEVV]MRKXLIQEKEMRWX]SYVFSH]
QSMWXYVIJVSQW[IEXQE]GSVVSHIXLI
MRXIVREPTEVXWGEYWMRKQEPJYRGXMSR
2SXIXLEXQEPJYRGXMSRHIIQIHXSFI
GEYWIHHYIXSI\TSWYVIXSPMUYMHW
MWRSXGSZIVIHF]XLI[EVVERX]ERH
VITEMVQE]FIMQTSWWMFPI8LMWQE]
FIVITEMVIHEX]SYVI\TIRWIIZIRMJ
VITEMVWEVITSWWMFPI
b9WIEHV]WSJXGPSXLPIRWGPIERMRK
GPSXLXSGPIERXLIIUYMTQIRX
-RWSQIQSHIPWXLIHMWTPE]SJ
XLI*31%XIVQMREPLEWEWTIGMEP
GSEXMRKMRSVHIVXSQEOIXLIGSPSV
HMWTPE]GPIEV-J]SYVYFXLIHMWTPE]
WXVSRKP][MXLEHV]GPSXLMXQE]FI
WGVEXGLIH8EOIGEVISJLERHPMRK
XLI*31%XIVQMREPERHYWIEHV]
WSJXGPSXLPIRWGPIERMRKGPSXLXS
GPIERXLIIUYMTQIRX-JXLIHMWTPE]
MWPIJX[MXL[EXIVHVSTSVWXEMR
EHLIVIHWQIEVQE]FIKIRIVEXIH
SVXLIGSEXMRKQE]TIIPSJJ
(SRSXYWIEPGSLSPXLMRRIV
FIR^IRIHIXIVKIRXSVSXLIV
WSPZIRXWJSVGPIERMRKSXLIV[MWI
XLITVMRXIHMQEKIWSVXI\XQE]
HMWETTIEVSVHMWGSPSVEXMSRQE]
VIWYPX
b3GGEWMSREPP]GPIERXLIXIVQMREPW
[MXLEHV]GSXXSRW[EF
-JXLIXIVQMREPWFIGSQIHMVX]XLI
GSRXEGXQE]FIGSQIPSSWIERHXLI
*31%XIVQMREPTS[IVQE]FIXYVRIH
SJJSVXLIXIVQMREPQE]RSXFIJYPP]
GLEVKIH
&IGEVIJYPRSXXSHEQEKIXLI
XIVQMREPW[LIR]SYGPIERXLIQ
b(SRSXTPEGIXLIIUYMTQIRXRIEV
EMVGSRHMXMSRIVSYXPIXW
'SRHIRWEXMSRQE]JSVQHYIXS
VETMHGLERKIWMRXIQTIVEXYVIERH
XLMWQE]GSVVSHIMRXIVREPTEVXWERH
GEYWIQEPJYRGXMSR
b
(SRSXTPEGII\GIWWMZIJSVGISRXLI
*31%XIVQMREPSVXLIFEXXIV]TEGO
-JXLI*31%XIVQMREPMWTYXYRHIV
LIEZ]SFNIGXWMREFEKSVMJMXMW
WEXYTSR[LMPIMR]SYVTSGOIXXLI
HMWTPE]MRXIVREPGMVGYMXFSEVHSV
FEXXIV]TEGOQE]FIHEQEKIH
SVQEPJYRGXMSR ;LMPII\XIVREP
HIZMGIWEVIMRWIVXIHXSXLII\XIVREP
GSRRIGXSVXIVQMREPWXLIGSRRIGXSV
QE]FIHEQEKIHSVQEPJYRGXMSR
b'EVIJYPP]VIEHIEGLQERYEP
EXXEGLIHXSXLI*31%XIVQMREP
EHETXIVERHHIWOXSTLSPHIV
b(SRSXVYFSVWGVEXGLXLIHMWTPE]
[MXLEQIXEPSFNIGX
(SMRKWSQE]GEYWIHEQEKISV
QEPJYRGXMSR
2SXIWSRXLI*31%XIVQMREP
b%ZSMHYWMRKMRI\XVIQIP]LMKLSV
PS[XIQTIVEXYVIW
9WIXLI*31%XIVQMREP[MXLMRE
XIQTIVEXYVIVERKISJ XS
ERHELYQMHMX]VERKISJXS
b8LI*31%XIVQMREPQE]EJJIGX
KIRIVEPTLSRIWXIPIZMWMSRWSV
VEHMSWIXGMRYWIRIEVF]9WIXLI
*31%XIVQMREPEWJEVE[E]JVSQ
WYGLIUYMTQIRXEWTSWWMFPI
b/IITEWITEVEXIVIGSVHSJER]
MRJSVQEXMSRWXSVIHSRXLI*31%
XIVQMREPERHWXSVIXLIGSTMIWMRE
WEJIPSGEXMSR
EWWYQIWRSVIWTSRWMFMPMX]
JSVXLIPSWWSJER]SJ]SYVHEXE
b(SRSXHVSTXLI*31%XIVQMREPSV
WYFNIGXMXXSWLSGOW
(EQEKISVQEPJYRGXMSRQE]VIWYPX
,ERHPMRK4VIGEYXMSRW
b
(SRSXMRWIVXERI\XIVREPHIZMGI
XSXLII\XIVREPGSRRIGXSVXIVQMREP
IEVTLSRIQMGVSTLSRIXIVQMREP
GVSSOIHP]SVHSRSXTYPPMX[LIRMXMW
MRWIVXIH
(EQEKISVQEPJYRGXMSRQE]VIWYPX
b
(SRSXGPSWIXLI*31%XIVQMREP[MXL
EWXVETGEYKLXMRWMHI
(EQEKISVQEPJYRGXMSRQE]VIWYPX
b
-XMWRSVQEPJSVXLI*31%XIVQMREPXS
FIGSQI[EVQHYVMRKYWISVFIMRK
GLEVKIH=SYGERGSRXMRYIXSYWIMX
b
(SRSXPIEZIXLIGEQIVEMRETPEGI
I\TSWIHXSHMVIGXWYRPMKLX
4M\IPWQE]FIHMWGSPSVIHSVFYVRWQE]
VIWYPX
b
9WYEPP]GPSWIXLIGSZIVWSJXLI
I\XIVREPGSRRIGXSVXIVQMREPWERH
QMGVS7(GEVHWPSX
(YWXSVQSMWXYVIQE]WIITMRERH
GEYWIQEPJYRGXMSR
b
(SRSXYWIXLI*31%XIVQMREP[MXL
XLIFEGOGSZIVVIQSZIH
8LIFEXXIV]TEGOQE]JEPPSYXSV
QEPJYRGXMSRSVHEQEKIQE]VIWYPX
b
(SRSXEXXEGLI\XVIQIP]XLMGO
WXMGOIVWSRXLIHMWTPE]SVOI]TEH
1EPJYRGXMSRQE]VIWYPX
b
;LMPIYWMRKEQMGVS7(GEVHHSRSX
VIQSZIMXSVXYVRXLI*31%XIVQMREP
TS[IVSJJ
(EXEPSWWSVQEPJYRGXMSRQE]VIWYPX
b
(SRSXTPEGIQEKRIXMGQIHMERIEV
XLI*31%XIVQMREP
(EXESRQEKRIXMGQIHMEWYGLEWGEWL
GEVHWGVIHMXGEVHWXIPITLSRIGEVHWSV
xSTT]HMWOWQE]FIPSWX
b
(SRSXTPEGIEQEKRIXM^IHMXIQRIEV
XLI*31%XIVQMREP
%WXVSRKQEKRIXMGwIPHQE]GEYWI
QEPJYRGXMSRSJXLI*31%XIVQMREP
2SXIWSRXLIFEXXIV]TEGO
b
8LIFEXXIV]TEGOMWEGSRWYQEFPI
(ITIRHMRKSRXLIYWEKIEFEXXIV]
TEGOQE]VYRSYXSJMXWGLEVKI
I\XVIQIP]UYMGOP]IZIRMJMXMWJYPP]
GLEVKIH4YVGLEWIERI[FEXXIV]TEGO
WTIGMwIHMRXLMWQERYEP
b
'LEVKIXLIFEXXIV]TEGOMRETPEGI
[MXLEREQFMIRXXIQTIVEXYVISJ
XS
b
;LIR]SYYWIXLI*31%XIVQMREP
JSVXLIwVWXXMQISV[LIR]SYLEZI
RSXYWIHJSVEPSRKXMQIFIWYVIXS
GLEVKIXLIFEXXIV]TEGOFIJSVIYWI
b
8LIEGXYEPYWEKIXMQISJXLI
FEXXIV]TEGOHITIRHWSRXLIYWEKI
IRZMVSRQIRXSVXLIHIXIVMSVEXMSR
PIZIPSJXLIFEXXIV]TEGO
b
8LIFEXXIV]TEGOQE]W[IPPEWXLI
FEXXIV]PMJIMWRIEVMXWIRHHITIRHMRK
SRXLIFEXXIV]TEGOGSRHMXMSRFYXMX
MWRSXEQEPJYRGXMSR
b
;LIR]SYWXSVIXLIFEXXIV]TEGO
JSVEPSRKXMQIEZSMHXLIJSPPS[MRK
GSRHMXMSRW
*YPP]GLEVKIHMQQIHMEXIP]EJXIV
GLEVKIMWGSQTPIXIH
2SFEXXIV]XLIWXEXI[LIVIXLI
TS[IVGERRSXFIXYVRIHSRHYIXS
FEXXIV]HVEMR
8LITIVJSVQERGISVPMJISJXLIFEXXIV]
TEGOQE]FIVIHYGIH
-XMWVIGSQQIRHIHXLEX]SYWXSVIXLI
FEXXIV]TEGO[LIRXLIFEXXIV]PIZIP
MGSRWLS[WX[SFEVW
2SXIWSRXLIEHETXIV
b
'LEVKIXLIFEXXIV]TEGOMRETPEGI
[MXLEREQFMIRXXIQTIVEXYVISJ
XS
b
'LEVKIXLIFEXXIV]TEGO[LIVI
8LIVIMWZIV]PMXXPILYQMHMX]ZMFVEXMSR
ERHHYWX
8LIVIEVIRSPERHPMRITLSRIW
XIPIZMWMSRWIXWSVVEHMSWRIEVF]
b
-XMWRSVQEPJSVXLIEHETXIVWXS
FIGSQI[EVQ[LMPIYWMRKSV
GLEVKMRKXLI*31%XIVQMREP=SYGER
GSRXMRYIXSYWIMX
b
9WIXLI('EHETXIVSRP][LIRXLI
GEVIRKMRIMWVYRRMRK
8LIGEVFEXXIV]QE]FII\LEYWXIH
b
;LIRYWMRKERSYXPIX[MXLEPEXGL
QIGLERMWQJSPPS[XLIMRWXVYGXMSR
QERYEPSJXLISYXPIX
b
(SRSXTPEGIWXVSRKMQTEGXW%PWSHS
RSXHIJSVQXLIGLEVKMRKXIVQMREPW
1EPJYRGXMSRQE]VIWYPX
2SXIWSRXLI9-1
b
(SRSXYWII\GIWWMZIJSVGIXSMRWIVX
VIQSZIXLI9-1
b
-XMWRSVQEPJSVXLI9-1XSFIGSQI
[EVQ[LMPIYWMRKXLI*31%
XIVQMREP=SYGERGSRXMRYIXSYWIMX
b
2SXIXLEX]SYEVIVIWTSRWMFPIJSV
QEPJYRGXMSRGEYWIHF]MRWIVXMRKXLI
9-1MRXSEHMJJIVIRX-'GEVHVIEHIV
[VMXIV
b
%P[E]WOIITXLI-'TSVXMSRSJXLI
9-1GPIER
b
'PIERXLI9-1[MXLEWSJXHV]GPSXL
PIRWGPIERMRKGPSXL
b
/IITEWITEVEXIVIGSVHSJER]
MRJSVQEXMSRWXSVIHSRXLI9-1ERH
WXSVIXLIGSTMIWMREWEJIPSGEXMSR
EWWYQIWRSVIWTSRWMFMPMX]
JSVXLIPSWWSJER]SJ]SYVHEXE
b
8STVSXIGXXLIIRZMVSRQIRXTPIEWI
FVMRKYRRIGIWWEV]9-1XSEWIVZMGI
GSYRXIVWYGLEWXLI7LST
b
%ZSMHYWMRKMRI\XVIQIP]LMKLSVPS[
XIQTIVEXYVIW
b
(SRSXWGVEXGLGEVIPIWWP]XSYGLSV
WLSVXGMVGYMXXLI-'TSVXMSR
(EXEPSWWSVQEPJYRGXMSRQE]VIWYPX
b
(SRSXHVSTXLI9-1SVWYFNIGXMXXS
WLSGOW
1EPJYRGXMSRQE]VIWYPX
b
(SRSXFIRHXLI9-1SVTYXLIEZ]
SFNIGXWSRMX
1EPJYRGXMSRQE]VIWYPX
b
(SRSXMRWIVXXLI9-1[MXLPEFIPW
SVWXMGOIVWEXXEGLIHMRXSXLI*31%
XIVQMREP
1EPJYRGXMSRQE]VIWYPX
'EYXMSRW
b
2IZIVYWIEQSHMwIH*31%XIVQMREP
9WMRKEQSHMwIHHIZMGIZMSPEXIWXLI
6EHMS0E[
8LI*31%XIVQMREPEGUYMVIWXLI
GIVXMwGEXMSRSJGSRJSVQMX][MXLXIGLRMGEP
WXERHEVHWSJWTIGMwIHVEHMSIUYMTQIRX
FEWIHSRXLI6EHMS0E[%WETVSSJ
8IGLRMGEPGSRJSVQMX]QEVO MW
TVMRXIHSRXLIREQITPEXISJXLI*31%
XIVQMREP
-J]SYVIQSZIWGVI[WXSQSHMJ]XLI
MRXIVREPGSQTSRIRXWSJXLI*31%
XIVQMREPXLIGIVXMwGEXMSRSJGSRJSVQMX]
[MXLXIGLRMGEPWXERHEVHWFIGSQIW
MRZEPMH
(SRSXYWIXLI*31%XIVQMREP[MXLXLI
MRZEPMHGIVXMwGEXMSRSJGSRJSVQMX][MXL
XIGLRMGEPWXERHEVHW(SMRKWSZMSPEXIW
XLI6EHMS0E[
b
&IGEVIJYP[LIRYWMRKXLI*31%
XIVQMREP[LMPIHVMZMRK
9WMRKEQSFMPITLSRIMRLERH[LMPI
HVMZMRKMWWYFNIGXXSTYRMWLQIRXF]PE[
-J]SYVIGIMZIEGEPPYREZSMHEFP]YWI
,ERHWJVIIXSXIPPXLIGEPPIVXSGEPPFEGO
ERHTEVOXLIGEVEXEWEJITPEGIERH
XLIRQEOIEGEPP
&IJSVI9WMRK
%XXEGLMRK9-1*31%'EVH&EXXIV]4EGO
8LI9-1MWER-'GEVHXLEXGSRXEMRWWYFWGVMTXMSR
MRJSVQEXMSRWYGLEW]SYVTLSRIRYQFIV
;LIRMRWIVXMRKGPSWIXLI*31%XIVQMREPERHLSPHMX
[MXLFSXLLERHW
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FIJSVILERHXSQEOIYWISJXLI*31%XIVQMREP
'LEVEGXIVIRXV]WGVIIR
3RXLI'LEVEGXIVIRXV]WGVIIRXLIGYVVIRXMRTYX
QSHIERHSTIVEXMSRKYMHIEVIHMWTPE]IH
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SVF]XIWXSFIMRTYX 'LEVEGXIV
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7[MXGLMRKMRTYXQSHI
7[MXGLXLIMRTYXQSHIEGGSVHMRKXSXLIGLEVEGXIV
X]TIXSFIMRTYX-RWSQIMRTYXQSHIWW[MXGLMRK
FIX[IIRJYPPTMXGLERHLEPJTMXGLGLEVEGXIVWMW
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'LEVEGXIVIRXV]QIXLSH
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GSRZIVWMSRSTXMSRW2I\XTLVEWITVIHMGXMSR
JYRGXMSRTVIHMGXWXLIRI\XTLVEWIJVSQXLI
GLEVEGXIVWFIMRKIRXIVIH
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8EVSMR,MVEKEREERH/ERNMMRTYXQSHI
3RXLI'LEVEGXIVIRXV]WGVIIRIRXIV
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MRTYXwIPH
4VIHMGXMSR
STXMSRwIPH
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 7wZIXMQIW
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4VIHMGXMSRMRTYXJYRGXMSRETTIEV
9WI HXSQSZIXLIGYVWSVXSXLI
4VIHMGXMSRSTXMSRwIPH
7IPIGX ......
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 4SRGI
 9wZIXMQIW
 1XLVIIXMQIW
9WI HXSQSZIXLIGYVWSVXSXLI
4VIHMGXMSRSTXMSRwIPH
7IPIGX 8EVS
)RXIVMRKTMGXSKVEQWW]QFSPWIQSXMGSRW
'LEVEGXIVIRXV]WGVIIR G?4MGX7]QA
9WI I?'LERKIAXSWIPIGXERMRTYXQSHI
9WI MXSW[MXGLX]TIW
7IPIGXETMGXSKVEQW]QFSPIQSXMGSRXS
IRXIV
7SYRH7GVIIR7IXXMRK
'LERKMRK6MRK8SRI
7XERHF]HMWTPE] M7IXXMRKW
7SYRHW:MFVEXMSR 7IPIGXVMRKXSRI
7IPIGXERMXIQERHWIPIGXEwPI
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7XERHF]HMWTPE] M7IXXMRKW
7SYRHW:MFVEXMSR :SPYQI
7IPIGXERMXIQERHEHNYWXZSPYQI
I?(SRIA
7IXXMRK:MFVEXSV
7XERHF]HMWTPE] M7IXXMRKW
7SYRHW:MFVEXMSR :MFVEXSV
1SZIXLIGYVWSVXSXLIMXIQXSWIX
C?323**A
I?(SRIA
9WMRK1ERRIV1SHI
7XERHF]HMWTPE]
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;LIRXLI1ERRIVQSHIMWWIX ETTIEVWEXXLIXST
SJXLIWGVIIR
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XSRIWSYRHW
b
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7IXXMRK/I]TEH7SYRH3**
7XERHF]HMWTPE] M7IXXMRKW
7SYRHW:MFVEXMSR :SPYQI
1SZIXLIGYVWSVXS/I]TEHXSRI
9WI LXSWIX 1YXI
I?(SRIA
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7XERHF]HMWTPE] M7IXXMRKW
(MWTPE] 7XERHF]HMWTPE]
7IXIEGLMXIQ
I?(SRIA
&EGOPMKLX
7IXXLIFEGOPMKLXSJXLIHMWTPE]
7XERHF]HMWTPE] M7IXXMRKW
(MWTPE] &EGOPMKLX
1SZIXLIGYVWSVXS%YXSFVMKLXRIWW
C?323**A
7IXXS3**XSWIPIGXWIXIEGLMXIQ
I
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7IXXLIQIRYHIWMKRHMWTPE]IH[LIRMMW
TVIWWIHMR7XERHF]
7XERHF]HMWTPE]
M M
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QIRY'SWQIXMGQIRY =IW
'SWQIXMGQIRY
8SW[MXGLXLIQIRYTVIWW
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g
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HMWTPE]IH
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/MWIOEI8SSPMWWIX
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/MWIOEI8SSP
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7XERHF]HMWTPE] M(EXEFS\
/MWIOEI8SSP
MQSHI4VIMRWXEPPIH
1SZIXLIGYVWSVXSE/MWIOEI8SSP
I?7IXEPPA =IW
/MWIOEI8SSPGEREPWSFIWIXYWMRKXLIJSPPS[MRKWXITW
7XERHF]HMWTPE]M I ?/MWIOEIA MQSHI
4VIMRWXEPPIH
8SVIWIXXLIWIXXMRKTVIWWM?1IRYASRXLI/MWIOEI
8SSPPMWXWGVIIR 6IWIXWGVIIRHMWTPE]WSYRH
WIXXMRK IRXIVXLI8IVQMREPWIGYVMX]GSHI
-RJSVQEXMSR
'LERKMRK-PPYQMREXMSR[LIR6IGIMZMRK
7XERHF]HMWTPE] M7IXXMRKW
(MWTPE] 0MKLXMRK0)( 1SZIXLI
GYVWSVXS0MKLXMRK0)( C?32A
-RGSQMRKZSMGIGEPP-RGSQMRKZMHIS
GEPP2I[QEMP7IPIGXERMPPYQMREXMSR
TEXXIVR
I?(SRIA
'LIGOMRK1MWWIH'EPPWSV2I[
1EMPW[MXL0MKLXMRK
7XERHF]HMWTPE] M7IXXMRKW
(MWTPE] 0MKLXMRK0)( 1SZIXLI
GYVWSVXS0MKLXMRK0)( C?32A
1SZIXLIGYVWSVXS1MWWIHGEPPSV
9RVIEHQIWWEKI C?32A
I?(SRIA
8LIMPPYQMREXMSRWJSV1MWWIHGEPPERH9RVIEH
QIWWEKIPMKLXSVFPMROJSVYTXSLSYVEXWIGSRHW
MRXIVZEPERHSXLIVMPPYQMREXMSRWPMKLXSVFPMROJSVYTXS
WIGSRHW
-RJSVQEXMSR
7EZMRK4S[IV'SRWYQTXMSR
7IXXLIFEGOPMKLXFVMKLXRIWWSJXLIHMWTPE]XSXLI
PS[IWXTS[IVWEZMRKPIZIPERHWIXXLIFEGOPMKLXXS
FIXYVRIHSJJ[LIRWIGSRHWIPETWIHEJXIVXLI
PEWXSTIVEXMSR
7XERHF]HMWTPE] M7IXXMRKW
3XLIV 4S[IVWEZIVQSHI 32
3**
0SGO7IGYVMX]
:EVMSYW7IGYVMX]'SHIW
'EYXMSRWSRWIGYVMX]GSHIW
%ZSMHWIXXMRKWIGYVMX]GSHIWYWMRK]SYVFMVXLHE]TEVX
SJ]SYVTLSRIRYQFIV]SYVEHHVIWWSVVSSQRYQFIV
SVXLEXGERFIIEWMP]KYIWWIHF]SXLIVW
&IWYVIXS[VMXIHS[RXLIWIXWIGYVMX]GSHIWERHWXSVI
XLIQMREWITEVEXIPSGEXMSR
(SRSXVIZIEP]SYVWIGYVMX]GSHIWXSSXLIVW
MWRSXVIWTSRWMFPIJSVHEQEKIGEYWIHF]QMWYWISJ
]SYVWIGYVMX]GSHIWF]SXLIVW
-J]SYJSVKIX]SYVWIGYVMX]GSHIW]SYRIIHXSFVMRK]SYV
MHIRXMwGEXMSRHSGYQIRXHVMZIVWPMGIRWIIXGXLI*31%
XIVQMREPERH9-1XSXLIHSGSQS7LST*SVHIXEMPW
GSRXEGXE+IRIVEP-RUYMVMIWEXXLIFEGOSJXLMWQERYEP
8IVQMREPWIGYVMX]GSHI(IJEYPX
=SYGERGLERKIXLI8IVQMREPWIGYVMX]GSHIF]]SYVWIPJ
7XERHF]HMWTPE]M7IXXMRKW 0SGO7IGYVMX]
'LERKIWIGYVMX]GSHI
2IX[SVOWIGYVMX]GSHI
%XXLIXMQISJGSRXVEGXER]RYQFIV
8LI2IX[SVOWIGYVMX]GSHIMWEJSYVHMKMXRYQFIVXSFI
YWIHJSV]SYVMHIRXMwGEXMSREXEREGGITXERGISJSVHIVEXXLI
HSGSQS7LSTHSGSQS-RJSVQEXMSR'IRXIVSV
YWIVWYTTSVXSVJSVEGGIWWMRKRIX[SVOWIVZMGIW
=SYGERWIXER]RYQFIVEXWYFWGVMTXMSRERHGERGLERKIMX
F]]SYVWIPJ
-J]SYLEZIHSGSQS-(ERH4EWW[SVHJSV
EXSXEPWYTTSVXWMXIJSVE4']SYGERGLERKIXLI2IX[SVO
WIGYVMX]GSHIJVSQE4'*VSQMQSHI]SYGERGLERKIMX
F]EGGIWWMRK YWIVWYTTSVXXLIR
WIXXMRKWGLIGOGLERKIYWI
*SVERH YWIVWYTTSVXWIIXLI
FEGOWMHISJXLIFEGOGSZIVSJXLMWQERYEP.ETERIWISRP]
MQSHITEWW[SVH
%XXLIXMQISJGSRXVEGX
8LIMQSHITEWW[SVHMWEJSYVHMKMXRYQFIVVIUYMVIH
XSVIKMWXIVVIQSZIGSRXIRXWMR1]1IRYERHWYFWGVMFI
XSGERGIPXLIQIWWEKIWIVZMGISVJIIFEWIHMQSHI
WIVZMGIW7SQISXLIVMRJSVQEXMSRWIVZMGITVSZMHIVWQE]
WIXMRHMZMHYEPTEWW[SVHW
=SYGERGLERKIXLITEWW[SVHF]]SYVWIPJ
*VSQMQSHI]SYGERGLERKIMXF]EGGIWWMRKM1IRY
)RKPMWL 3TXMSRW 'LERKIMQSHI4EWW[SVH
4-2GSHI4-2GSHI
%XXLIXMQISJGSRXVEGX
=SYGERWIX4-2ERH4-2GSHIWXSXLI9-14-2GSHI
MWEXSHMKMXRYQFIVXSFIIRXIVIHXSMHIRXMJ]XLI
YWIVIZIV]XMQI9-1MWMRWIVXIHMRXSXLI*31%XIVQMREP
SVXLIXIVQMREPTS[IVMWXYVRIHSRMRSVHIVXSTVIZIRX
YREYXLSVM^IHYWIF]XLMVHTEVX]4-2GSHIMWEXS
HMKMXRYQFIVYWIHXSVIWIXEGGYQYPEXIHGEPPGLEVKIW
IXG=SYGERGLERKIXLIQF]]SYVWIPJ8SGLERKI4-2
GSHIWIX4-2GSHIVIUYIWXXS32FIJSVILERH
7XERHF]HMWTPE]M7IXXMRKW 0SGO7IGYVMX]
4-2GSHI )RXIVXLI8IVQMREPWIGYVMX]GSHI
'LERKI4-2GSHI'LERKI4-2GSHI
49/GSHI4-2YRFPSGOGSHI
8LI49/GSHIMWERIMKLXHMKMXRYQFIVYWIHXSYRFPSGO
4-2GSHISV4-2GSHI-XMW[VMXXIRMRXLIETTPMGEXMSR
JSVQGST]JSVWYFWGVMFIVKMZIREXXLIXMQISJGSRXVEGX
=SYGERRSXGLERKIMXF]]SYVWIPJ
)RXIV
4-2GSHI
)RXIV
4-2GSHI
)RXIV49/
GSHI4-2
YRFPSGOGSHI
7IXRI[4-24-2
GSHI
'SRXEGXXLI
HSGSQS7LST
*EMPIH
XMQIWMREVS[
3/
*EMPIH
XMQIWMREVS[
:EVMSYW0SGO*YRGXMSRW
0SGOJYRGXMSR (IWGVMTXMSR
0SGOEPP 0SGOWXLI*31%XIVQMREPXSTVIZIRX
STIVEXMSRWF]SXLIVW
 7XERHF]HMWTPE] M
7IXXMRKW 0SGO7IGYVMX]
0SGO 0SGOEPP )RXIVXLI
8IVQMREPWIGYVMX]GSHI =IW
2S
b8SGERGIP0SGOEPP
-R7XERHF]TVIWWM?9RPSGOA
SVTVIWWER]HMEPOI] IRXIVXLI
8IVQMREPWIGYVMX]GSHI
-JJEMPIHXSIRXIVXLIGSVVIGX
8IVQMREPWIGYVMX]GSHIwZIXMQIW
MREVS[XLITS[IVEYXSQEXMGEPP]
XYVRWSJJ
)QIVKIRG]RYQFIVW
GERFIGEPPIHHYVMRK0SGOEPP
-R7XERHF]TVIWWI?)QIVKIRG]A
WIPIGXERIQIVKIRG]RYQFIV
C?3/A
0SGOJYRGXMSR (IWGVMTXMSR
3QEOEWI
0SGO
0SGOW]SYVTIVWSREPHEXEWYGLEW
4LSRIFSSOERH-'GEVHJYRGXMSRWSJ
3WEMJY/IMXEMF]GEPPMRK
[LIR]SYPSWXXLI*31%XIVQMREP
7IXXMRK'ERGIPMRK3QEOEWI0SGO
%ZEMPEFPILSYVW
EHE].ETERIWISRP]
=SYGERWIXGERGIPXLIPSGOJVSQXLI
1]HSGSQSWMXI.ETERIWISRP]
YWMRKE4'
*SVHIXEMPWSR3QEOEWI0SGOWII
1SFMPI4LSRI9WIVW+YMHI?MQSHIA
*31%ZIVWMSR
'EPP1EMPPSGO (MWEFPIWSYXKSMRKGEPPWEHHVIWW
IRXVMIW[MXLHMEPOI]WMRGSQMRKGEPPW
SVHMWTPE]SJQEMPQIWWEKIWXSTVIZIRX
STIVEXMSRWSJXLI*31%XIVQMREPF]
SXLIVW
 7XERHF]HMWTPE] M
7IXXMRKW 0SGO7IGYVMX]
0SGO 'EPP1EMPPSGO )RXIV
XLI8IVQMREPWIGYVMX]GSHI
 1SZIXLIGYVWSVXS'EPP1EMP
PSGO C?32A 1EVOMXIQWXS
VIWXVMGX
I?(SRIA
0SGOJYRGXMSR (IWGVMTXMSR
7IPJQSHI (MWEFPIWEPPJYRGXMSRWXLEXVIUYMVI
GSQQYRMGEXMSRWYGLEWQEOMRK
VIGIMZMRKGEPPWYWMRKMQSHISV
WIRHMRKVIGIMZMRKQEMPW
 7XERHF]HMWTPE] M
7IXXMRKW 'EPP:8(MEPMRK
7IPJQSHI =IW2S
(EXEEGGIWW
PSGO
7TIGMwIWERHPSGOJYRGXMSRWXSTVIZIRX
YREYXLSVM^IHYWIF]SXLIVW
 7XERHF]HMWTPE] M
7IXXMRKW 0SGO7IGYVMX]
0SGO (EXEEGGIWWPSGO
)RXIVXLI8IVQMREPWIGYVMX]GSHI
 1SZIXLIGYVWSVXS(EXEEGGIWW
PSGO C?32A 1EVOJYRGXMSRW
XSPSGO
I?(SRIA
0SGOJYRGXMSR (IWGVMTXMSR
(MWTPE]'EPP
1EMPPSKW
,MHIWVIHMEPGEPPVIGIMZIHGEPPWIRX
QEMPERHVIGIMZIHQEMPPSKW
 7XERHF]HMWTPE] M
7IXXMRKW 0SGO7IGYVMX]
(MWTPE]'EPP1EMPPSKW )RXIV
XLI8IVQMREPWIGYVMX]GSHI
 1SZIXLIGYVWSVXSXLIMXIQXSWIX
C?323**A
-'GEVHPSGO 4VIZIRXWYREYXLSVM^IHYWISJ-'GEVH
JYRGXMSRF]SXLIVW
 7XERHF]HMWTPE] CJSVSZIV
WIGSRH
b8SGERGIP-'GEVHPSGO
-R7XERHF]TVIWWCJSVSZIV
WIGSRH IRXIVXLI8IVQMREP
WIGYVMX]GSHI
-RGSQMRK'EPP6IWXVMGXMSR
%RSR]QSYWGEPPIV
6INIGXMRGSQMRKGEPPW[MXLSYXGEPPIV-(TIVVIEWSR
JSVERSR]QSYWGEPP
7XERHF]HMWTPE] M7IXXMRKW
'EPP:8(MEPMRK -RGSQMRKGEPP
%RSR]QSYWGEPPIV )RXIVXLI8IVQMREP
WIGYVMX]GSHI 7IPIGXWIXIEGLMXIQ
6INIGXYRORS[R
7IXXSVINIGXGEPPWJVSQGEPPIVWRSXWEZIHXS
4LSRIFSSOSV[MXLSYXGEPPIV-(
7XERHF]HMWTPE] M7IXXMRKW
'EPP:8(MEPMRK -RGSQMRKGEPP
%GGITX6INIGXGEPP )RXIVXLI
8IVQMREPWIGYVMX]GSHI 1SZIXLI
GYVWSVXS6INIGXYRORS[R C?323**A
6IWIXXMRKXS(IJEYPX
6IWIXXMRKZEVMSYWJYRGXMSRWIXXMRKWXS
HIJEYPXW
6IWIXXLIWIXXMRKW]SYLEZIGLERKIHMRJYRGXMSRW
XSHIJEYPXW
7XERHF]HMWTPE] M7IXXMRKW
3XLIV 6IWIX'PIEV 6IWIX
WIXXMRKW =IW )RXIVXLI8IVQMREP
WIGYVMX]GSHI
(IPIXMRKEPPWEZIHHEXEEXSRGI
(IPIXIWEZIHHEXE
7XERHF]HMWTPE]
M
7IXXMRKW
3XLIV 6IWIX'PIEV 'PIEVQIQSV]
1EVOMXIQWXSHIPIXI I?(SRIA
=IW )RXIVXLI8IVQMREPWIGYVMX]GSHI
'EPP8IPITLSRI
1EOMRKE'EPP:MHISTLSRI'EPP
)RXIVETLSRIRYQFIV
ASVC?'EPPA
%VMRKMRKXSRIWSYRHWJVSQXLIIEVTMIGIERHXLI
(MEPMRKWGVIIRMWHMWTPE]IHYRXMPXLISXLIVTEVX]
ERW[IVWXLIGEPP
b8SQEOIEZMHISTLSRIGEPP
4VIWWg?:TLSRIA
8SIRHXLIGEPPP
1EOMRKEGEPPJVSQXLI4LSRIFSSO
7XERHF]HMWTPE]D
1SZIXLIGYVWSVXSXLIIRXV]XSGEPP
A
b8SQEOIEZMHISTLSRIGEPP
4VIWWg?:4LSRIA
1EOMRKEZSMGIGEPPYWMRKVIHMEPPSKW
SVVIGIMZIHGEPPPSKW
7XERHF]HMWTPE] R6IHMEPSV
L6IGZ'EPPW
1SZIXLIGYVWSVXSXLIIRXV]XSGEPP
C?(IXEMPA
ASVC?'EPPA
b8SQEOIEZMHISTLSRIGEPP
4VIWWg?:TLSRIA
-JI\GIIHIHIRXVMIWXLIIRXV]MWHIPIXIHJVSQXLI
SPHIWX
-RJSVQEXMSR
2SXMJ]MRKSXLIVTEVX]SJ]SYVTLSRIRYQFIV
7IX[LIXLIVXSRSXMJ]RSXXSRSXMJ]SXLIVTEVX]SJ
]SYVGEPPIV-(SRXLIRIX[SVOFIJSVILERH
7XERHF]HMWTPE] M7IXXMRKW
2;7IVZMGIW 'EPPIV-(RSXMwGEXMSR
%GXMZEXI(IEGXMZEXI
2SXMJ]2SXRSXMJ]
=SYGEREPWSWIXRSXXSRSXMJ]XSRSXMJ]SJ]SYVGEPPIV
-(JSVIEGLGEPPF]TVIw\MRKXSXLISXLIV
TEVX]WTLSRIRYQFIV
-RJSVQEXMSR
9WMRKMRXIVREXMSREPGEPPW
;360('%00MWERMRXIVREXMSREPGEPPWIVZMGI
EZEMPEFPIJVSQQSFMPITLSRIW
;LIRLEZMRKWYFWGVMFIHXSXLI*31%WIVZMGI]SY
LEZIEPWSWYFWGVMFIHXS;360('%00I\GITX
XLSWI[LSLEZIETTPMIHRSXXSYWIXLIWIVZMGI
=SYGERQEOIGEPPWXSETTVS\MQEXIP]GSYRXVMIW
ERHVIKMSRW
'LEVKIWJSV;360('%00EVIEHHIHXSXLIQSRXLP]
FMPPJSVXLI*31%WIVZMGI
8LIETTPMGEXMSRQSRXLP]JIIMWJVIISJGLEVKI
7SQIFMPPMRKTPERWEVIRSXEZEMPEFPIJSVXLMWWIVZMGI
)ZIRMJXLIGEPPIV-(RSXMwGEXMSRMWWIXMXQE]RSX
FIRSXMwIHSVTLSRIRYQFIVQE]RSXFIHMWTPE]IH
GSVVIGXP]HITIRHMRKSRXLIXIPIGSQQYRMGEXMSRGEVVMIV
-RXLMWGEWI]SYGERRSXQEOIEGEPPJVSQXLI6IGIMZIH
GEPPWWGVIIR
*SVHIXEMPWSR;360('%00GSRXEGX+IRIVEP
-RUYMVMIWEXXLIFEGOSJXLMWQERYEP
-J]SYYWIMRXIVREXMSREPGEVVMIVWSXLIVXLER
GSRXEGXXLIQHMVIGXP]
)RXIVMRKETLSRIRYQFIVXSQEOIER
MRXIVREXMSREPGEPP
)RXIV'SYRXV]GSHI%VIEGSHI'MX]
GSHI3XLIVTEVX]WTLSRIRYQFIV
-JEREVIEGSHIGMX]GSHIWXEVXW[MXLVIQSZI
;LIRGEPPMRKWSQIGSYRXVMIWWYGLEW-XEP]QE]FI
VIUYMVIH
A
b
8SQEOIERMRXIVREXMSREPZMHISTLSRIGEPP
4VIWWg?:TLSRIA
6IGIMZMRKE'EPP:MHISTLSRI'EPP
%GEPPEVVMZIW
b;LIREZMHISTLSRIGEPPEVVMZIW
C
?-QEKIA%RW[IVEGEPP[MXLXLIWYFWXMXYXIMQEKI
A
b(YVMRKEZMHISTLSRIGEPP
I
?-QEKI'EQIVEA7[MXGLXLIMQEKIXSWIRH
FIX[IIRXLIWYFWXMXYXIMQEKIERHXLIGEQIVEMQEKI
8SIRHXLIGEPPP
%HNYWXMRK)EVTMIGI:SPYQI
(YVMRKEGEPP
F
E
;LIR=SYGERRSX%RW[IVE'EPP
4YFPMGQSHIMWEREYXSQEXMGVIWTSRWIWIVZMGIXS
EWWMWXMRSFWIVZMRKQERRIVWMRTYFPMGPSGEXMSRW
4YFPMGQSHIMRGPYHIWJSPPS[MRKX[SX]TIW
(VMZIQSHI
4S[IV3**
9WMRK4YFPMGQSHI(VMZIQSHI
8LIKYMHERGIMWTPE]IHERRSYRGMRKXLEX]SYGERRSX
ERW[IVXLIGEPPFIGEYWI]SYEVIGYVVIRXP]HVMZMRKSVMR
ETPEGI[LIVI]SYWLSYPHVIJVEMRJVSQXEPOMRKSRXLI
TLSRIXVEMRFYWSVQSZMIXLIEXIVERHXLIRXLIGEPPMW
HMWGSRRIGXIH
7XERHF]HMWTPE]
*
JSVSZIVWIGSRH
;LIRXLI4YFPMGQSHI(VMZIQSHIMWWIX
ETTIEVWEXXLIXSTSJXLIWGVIIR
b8SGERGIPXLI4YFPMGQSHI(VMZIQSHI
4VIWW
*
JSVSZIVWIGSRH[LMPIXLI7XERHF]
HMWTPE]ETTIEVW
9WMRK4YFPMGQSHI4S[IV3**
;LIREGEPPEVVMZIW[LMPIXLITS[IVMWXYVRIH3**XLI
KYMHERGIMWTPE]IHERRSYRGMRKXLEX]SYGERRSXERW[IV
XLIGEPPFIGEYWI]SYEVIMRETPEGI[LIVI]SYWLSYPH
XYVRXLITS[IV3**LSWTMXEPEMVTPERIRIEVTVMSVMX]
WIEXWSREXVEMRERHXLIRXLIGEPPMWHMWGSRRIGXIH
)RXIV: A
b8SGERGIPXLI4YFPMGQSHI4S[IV3**
)RXIV:ERHTVIWWA
7IXXMRK6IGSVHQIWWEKI
-JXLI6IGSVHQIWWEKIMWEGXMZEXIHXLIZSMGIKYMHERGI
MWTPE]IH[LIR]SYGERRSXERW[IVEZSMGIGEPPERHXLI
SXLIVTEVX]WQIWWEKIMWVIGSVHIH
8LI6IGSVHQIWWEKIHSIWRSXEGXMZEXI[LIRE
ZMHISTLSRIGEPPEVVMZIW%GEPPEVVMZIWMRERSVQEP[E]
7XERHF]HMWTPE] M1IHME
6IGSVHQIWWEKI 6IGSVHQWKWIXXMRK
1SZIXLIGYVWSVXS%GXMZEXIVIGSVHQWK
C?323**A
7IXXS32XSWIPIGXWIXIEGLMXIQ
I?(SRIA
;LIRXLI6IGSVHQIWWEKIMWWIX ETTIEVWEXXLI
XSTSJXLIWGVIIR
4PE]MRK6IGSVHQIWWEKI
7XERHF]HMWTPE] M1IHME
6IGSVHQIWWEKI 6IGSVHQWKPMWX
1SZIXLIGYVWSVXSEVIGSVHIHQIWWEKI
C?4PE]A
9WMRK:EVMSYW2IX[SVO7IVZMGIW
%ZEMPEFPIRIX[SVOWIVZMGIW
8LIJSPPS[MRKRIX[SVOWIVZMGIWEVIEZEMPEFPI
JSVXLI*31%XIVQMREP
7IVZMGIREQI 7YFWGVMTXMSR 1SRXLP]JII
:SMGI1EMP7IVZMGI 6IUYMVIH 'LEVKIH
'EPP;EMXMRK 6IUYMVIH 'LEVKIH
'EPP*SV[EVHMRK7IVZMGI
6IUYMVIH *VII
2YMWERGI'EPP&PSGOMRK
7IVZMGI
2SXVIUYMVIH *VII
'EPPIV-(2SXMwGEXMSR
7IVZMGI
2SXVIUYMVIH *VII
'EPPIV-(6IUYIWX7IVZMGI
2SXVIUYMVIH *VII
(YEP2IX[SVO7IVZMGI 6IUYMVIH 'LEVKIH
)RKPMWL+YMHERGI 2SXVIUYMVIH *VII
1YPXM2YQFIV 6IUYMVIH 'LEVKIH
3**-'))( 6IUYMVIH 'LEVKIH
4YFPMGQSHI(VMZIQSHI
2SXVIUYMVIH *VII
4YFPMGQSHI4S[IV3**
2SXVIUYMVIH *VII
1IPSH]'EPP 6IUYMVIH 'LEVKIH
=SYGERRSXYWIRIX[SVOWIVZMGIW[LMPI]SYEVISYXSJ
WIVZMGIEVIESV[LIVIXLIVIMWRSWMKREPVIGITXMSR
*SVWYFWGVMTXMSRSVMRUYMVMIWGSRXEGX+IRIVEP
-RUYMVMIWEXXLIFEGOSJXLMWQERYEP
3**-'))(MWEJIIFEWIHWIVZMGIVIUYMVMRK
EWYFWGVMTXMSR*SVHIXEMPWZMWMXXLIJSPPS[MRK
W[IFWMXIJSVGSVTSVEXMSRW
.ETERIWISRP]
*SVHIXEMPWSRRIX[SVOWIVZMGIWWII1SFMPI4LSRI
9WIVW+YMHI?2IX[SVO7IVZMGIWA
-RJSVQEXMSR
:SMGIQEMPWIVZMGI
7XERHF]HMWTPE]
M
7IXXMRKW 2;
7IVZMGIW :SMGIQEMP 7IPIGXERMXIQ
'EPP[EMXMRKWIVZMGI
7XERHF]HMWTPE]
M
7IXXMRKW 2;
7IVZMGIW 'EPP[EMXMRK 7IPIGXERMXIQ
'EPPJSV[EVHMRKWIVZMGI
7XERHF]HMWTPE]
M
7IXXMRKW 2;
7IVZMGIW 'EPPJSV[EVHMRK 7IPIGXERMXIQ
7IVZMGIW%ZEMPEFPIJSVXLI*31%8IVQMREP
%ZEMPEFPIWIVZMGI 4LSRIRYQFIV
2STVIw\
8IPIKVEQW'LEVKIETTPMIWXIPIKVEQJII
2STVIw\
8MQIGLIGO'LEVKIWETTP] 2STVIw\
;IEXLIVJSVIGEWX'LEVKIWETTP]
'MX]GSHISJXLI
HIWMVIHEVIE
)QIVKIRG]GEPPWXSTSPMGI 2STVIw\
)QIVKIRG]GEPPWXSwVIWXEXMSRERH
EQFYPERGI
2STVIw\
)QIVKIRG]GEPPWJSVEGGMHIRXWEXWIE
2STVIw\
(MWEWXIVIQIVKIRG]QIWWEKIHMEP
'LEVKIWETTP]
2STVIw\
'SPPIGXGEPPW'LEVKIWETTP]
KYMHERGIJIIGEPPJII
2STVIw\
;LIR]SYYWI'EPPJSV[EVHMRKSJEPERHPMRITLSRI
ERHLEZIWTIGMwIHEQSFMPITLSRIEWXLIJSV[EVHMRK
HIWXMREXMSRXLIGEPPIVQE]LIEVEVMRKXSRIIZIRMJXLI
QSFMPITLSRIMWFYW]SYXSJWIVZMGIEVIESVXYVRIHSJJ
HITIRHMRKSRXLIWIXXMRKWSJXLIPERHPMRITLSRIERH
QSFMPITLSRI
-RJSVQEXMSR
)ZIR[LIRXLI9-1MWRSXMRWIVXIHIQIVKIRG]TLSRI
RYQFIVWERHGERFIHMEPIHXS
QEOIERIQIVKIRG]GEPPSZIVWIEW,S[IZIV[LIR7IPJ
QSHIMWWIXIQIVKIRG]GEPPWGERRSXFIQEHI
8LMW*31%XIVQMREPWYTTSVXW
)QIVKIRG]0SGEXMSR6ITSVX;LIRQEOMRKIQIVKIRG]
GEPPWXSSV]SYVGYVVIRXPSGEXMSRPSGEXMSR
MRJSVQEXMSR[MPPEYXSQEXMGEPP]FIRSXMwIHXSIQIVKIRG]
VITSVXVIGITXMSREKIRGMIWWYGLEWXLI4SPMGI8LIEKIRG]
QE]RSXVIGIMZIEGGYVEXIPSGEXMSRMRJSVQEXMSRHITIRHMRK
SR]SYVGYVVIRXPSGEXMSRSVWMKREPGSRHMXMSRW;LIR]SY
HSRSXRSXMJ]]SYVGEPPIV-(F]HMEPMRKWYGLEW[MXL
EHHIH]SYVPSGEXMSRMRJSVQEXMSRERHGEPPIV-(EVIRSX
RSXMwIH,S[IZIV[LIRXLIEKIRG]NYHKIWXLEXXLI
PSGEXMSRMRJSVQEXMSRERHGEPPIV-(EVIRIGIWWEV]XSTVSXIGX
ELYQERPMJIMXQE]EGUYMVI]SYVPSGEXMSRMRJSVQEXMSRERH
GEPPIV-(VIKEVHPIWWSJ]SYVWIXXMRK
8LIVIKMSRERHXMQMRK)QIVKIRG]0SGEXMSR6ITSVX
MWMRXVSHYGIHZEV]HITIRHMRKSRXLITVITEVEXMSRSJ
VIWTIGXMZIIQIVKIRG]VITSVXVIGITXMSREKIRGMIW
;LIRQEOMRKEGEPPEXSVJVSQXLI*31%
XIVQMREPMRJSVQERSTIVEXSVXLEX]SYEVIGEPPMRKJVSQE
QSFMPITLSRIERH]SYVGEPPIV-(ERHEGXYEPPSGEXMSR
(SRSXQSZIEVSYRH[LMPI]SYEVIXEPOMRKHYVMRK
ERIQIVKIRG]GEPPXSTVIZIRXXLIGEPPJVSQFIMRK
HMWGSRRIGXIHYRI\TIGXIHP](SRSXXYVRXLITS[IVSJJ
MQQIHMEXIP]EJXIVXLIGEPPMWSZIVERHOIITXLI*31%
XIVQMREPVIEH]XSVIGIMZIGEPPWJSVETTVS\MQEXIP]
QMRYXIW
(ITIRHMRKSRXLIEVIE[LIVI]SYEVIGEPPMRK]SYQE]
RSXFIGSRRIGXIHXSXLIPSGEPTSPMGISVwVIWXEXMSR-RWYGL
EGEWIYWIETYFPMGTLSRISVPERHPMRITLSRIRIEVF]
9WMRK3ZIVWIEW
-RXIVREXMSREPVSEQMRK;360(;-2+MWEWIVZMGI
XLEXEPPS[W]SYXSXEPOSVQEOIGSQQYRMGEXMSRW
ZMEMRXIVREXMSREPGEVVMIVWRIX[SVOYWMRKXLIWEQI
TLSRIRYQFIVEWYWIHHSQIWXMGEPP]
&IJSVIYWMRKGLIGOXLIWYFWGVMTXMSRWXEXYWJSV
;360(;-2+
7IIXLIJSPPS[MRKMXIQWFIJSVIYWMRKXLI*31%
XIVQMREPSZIVWIEW
1SFMPI4LSRI9WIVW+YMHI?-RXIVREXMSREP7IVZMGIWA
1SFMPI4LSRI9WIVW+YMHI?2IX[SVO7IVZMGIWA
-RXIVREXMSREP7IVZMGIW[IFWMXI
-RXP7IVZMGI+YMHITVIMRWXEPPIHSRXLI*31%XIVQMREP
'SRZIRMIRXJYRGXMSRWERHWIVZMGIWEZEMPEFPISZIVWIEW
*YRGXMSRWIVZMGI (IWGVMTXMSR
6SEQMRK
KYMHI-RX
2SXMJ]XLISXLIVTEVX][MXLEZSMGI
KYMHERGIXLEXXLIXIVQMREPMWMR
MRXIVREXMSREPVSEQMRK
'EPPFEVVMRK 6INIGXMRGSQMRKGSQQYRMGEXMSRW
HYVMRKMRXIVREXMSREPVSEQMRK
(YEPGPSGO
HMWTPE]
(MWTPE]X[SGPSGOWSJX[SHMJJIVIRXGMXMIW
WMQYPXERISYWP]SRXLI7XERHF]HMWTPE]
9RMXGSRZIVXIV 'SRZIVXGYVVIRG]F]WIXXMRKER
I\GLERKIVEXI
3ZIVWIEWRIX[SVOW
2IX[SVO (IWGVMTXMSR
;'(1%+
8LMVHKIRIVEXMSRQSFMPIGSQQYRMGEXMSR
RIX[SVOGSQTPMERX[MXLXLIMRXIVREXMSREP
WXERHEVH+44

+71
(MKMXEPFEWIHWIGSRHKIRIVEXMSRQSFMPI
GSQQYRMGEXMSRRIX[SVOQSWXYWIH[SVPH[MHI
+467
KIRIVEXMSRQSFMPIGSQQYRMGEXMSR
RIX[SVOXLEXWYTTSVXWLMKLWTIIHTEGOIX
GSQQYRMGEXMSRYWMRK+71GSQQYRMGEXMSR
 8LIEFFVIZMEXMSRSJVH+IRIVEXMSR4EVXRIVWLMT4VSNIGX
%VIKMSREPWXERHEVHM^EXMSRSVKERM^EXMSRXSIWXEFPMWL
GSQQSRXIGLRMGEPWTIGMwGEXMSRWJSVXLMVHKIRIVEXMSR
QSFMPIGSQQYRMGEXMSRW]WXIQW-18

8LIEFFVIZMEXMSRSJ+PSFEP7]WXIQJSV1SFMPI
'SQQYRMGEXMSRW7IGSRHKIRIVEXMSRQSFMPIGSQQYRMGEXMSR
W]WXIQMRHMKMXEPQIXLSHQSWXYWIH[SVPH[MHI
 8LIEFFVIZMEXMSRSJ+IRIVEP4EGOIX6EHMS7IVZMGI
(EXEGSQQYRMGEXMSRWYGLEWTEGOIXGSQQYRMGEXMSRMW
JEGMPMXEXIHF]WTIIHMRKYT+71
7YFWGVMFMRKXS;360(;-2+
-J]SYWYFWGVMFIHXSXLI*31%WIVZMGIEJXIV7ITXIQFIV
EWYFWGVMTXMSRJSV;360(;-2+MWRSXVIUYMVIH
,S[IZIVMJ]SYGERGIPIHXLIWYFWGVMTXMSRJSV;360(
;-2+EXSVEJXIVEWYFWGVMTXMSRJSVXLI*31%WIVZMGIE
WYFWGVMTXMSRJSV;360(;-2+MWVIUYMVIHEKEMR
-J]SYWYFWGVMFIHXSXLI*31%WIVZMGIFIJSVI%YKYWX
ERHLEZIRSXWYFWGVMFIHXS;360(;-2+E
WYFWGVMTXMSRMWVIUYMVIH
7IVZMGIWEZEMPEFPISZIVWIEW
'SQQYRMGEXMSRWIVZMGI
+ +71 +467
:SMGIGEPP
:MHISTLSRI
717
MQSHI
MQSHIQEMP
M'LERRIP
4EGOIX
GSQQYRMGEXMSRF]
GSRRIGXMRKXSE4'
%ZEMPEFPI 2SXEZEMPEFPI
 =SYRIIHXSQEOISZIVWIEWYWEKIWIXXMRKWJSVMQSHI
 =SYRIIHXSQEOIM'LERRIPWIXXMRKW4EGOIX
GSQQYRMGEXMSRGLEVKIWETTP]XSVIGIMZIIEGL
M'LERRIPMRGPYHMRK&EWMGGLERRIP
 %YXSYTHEXIMWWYWTIRHIHEYXSQEXMGEPP]MJXLI*31%
XIVQMREPMWGSRRIGXIHXSERMRXIVREXMSREPGEVVMIV8S
VIWYQI%YXSYTHEXISJM'LERRIPSZIVWIEW]SYRIIH
XSQEOIM'LERRIPWIXXMRKWEKEMR,S[IZIVTEGOIX
GSQQYRMGEXMSRGLEVKIWETTP]MREHHMXMSRXSXLI
QSRXLP]JII
9WEKIJIIWSZIVWIEWGEPPGLEVKIWTEGOIX
GSQQYRMGEXMSRGLEVKIWHMJJIVJVSQHSQIWXMGJIIW
-RJSVQEXMSR
1EOMRKEGEPPXSSYXWMHIXLIGSYRXV]]SY
WXE]MRGPYHMRK.ETER
1EOIEGEPP[MXLERHEGSYRXV]GSHITVIw\IHXS
XLISXLIVTEVX]WTLSRIRYQFIV
8SQEOIEGEPPXSERSZIVWIEW;360(;-2+YWIV
IRXIVEWEGSYRXV]GSHIXSQEOIERMRXIVREXMSREP
GEPPXS.ETER
7XERHF]HMWTPE]
0
JSVSZIVWIGSRH
)RXIV'SYRXV]GSHI%VIEGSHI'MX]
GSHI4LSRIRYQFIV
-JEREVIEGSHIGMX]GSHIWXEVXW[MXLVIQSZI
;LIRGEPPMRKWSQIGSYRXVMIWWYGLEW-XEP]
QE]FIVIUYMVIH
A
b8SQEOIEZMHISTLSRIGEPP
4VIWWg?:TLSRIA
1EOMRKEGEPPXSETIVWSRMRXLIGSYRXV]
]SYWXE]
1EOIEGEPPF]HMEPMRKXLISXLIVTEVX]WTLSRI
RYQFIVJVSQXLIEVIEGSHIGMX]GSHI
8SQEOIEGEPPXSERSZIVWIEW;360(;-2+YWIVQEOI
ERMRXIVREXMSREPGEPPYWMRKXLIWEQITVSGIHYVIWMR1EOMRK
EGEPPXSSYXWMHIXLIGSYRXV]]SYWXE]MRGPYHMRK.ETER
IZIRMRXLIWEQIGSYRXV]SVVIKMSR
1EMP
7IRHMRKMQSHI1EMP
9TSRWYFWGVMTXMSRXSMQSHI]SYGERI\GLERKI
IQEMPZMEXLI-RXIVRIXEW[IPPEWFIX[IIRMQSHI
XIVQMREPW
*SVHIXEMPWSRMQSHIQEMPWII1SFMPI4LSRI9WIVW
+YMHI?MQSHIA*31%ZIVWMSR
7XERHF]HMWTPE] g'SQTSWI
QIWWEKI
%HHVIWW
7YFNIGX
%XXEGLQIRX
1IWWEKI
7IPIGX wIPH(MVIGXMRTYX )RXIVER
EHHVIWW
7IPIGX wIPH)RXIVEWYFNIGX
7IPIGX?1IWWEKIAwIPH)RXIVEQIWWEKI
I?7IRHA
%XXEGLMRKERHWIRHMRKEwPI
%XXEGLERMQEKISVQIPSH]XSMQSHIQEMPXSWIRH
9TXSwPIWEXSXEPSJ1&GERFIEXXEGLIH
7XERHF]HMWTPE] g'SQTSWI
QIWWEKI
7IPIGX wIPH7IPIGXEwPI
7IPIGX wIPH(MVIGXMRTYX )RXIVER
EHHVIWW
7IPIGX wIPH)RXIVEWYFNIGX
7IPIGX?1IWWEKIAwIPH)RXIVEQIWWEKI
I?7IRHA
'VIEXMRKERH7IRHMRK(IGSQEMP
'VIEXI]SYVHIWMKRIHQEMPF]EHHMRKHIGSVEXMSRW
WYGLEWGLERKMRKJSRXWM^IJSRXGSPSVSV
FEGOKVSYRHGSPSVSVMRWIVXMRKMQEKIW[LIR
IHMXMRKMQSHIQEMP
7XERHF]HMWTPE] g'SQTSWI
QIWWEKI
)RXIVEREHHVIWWERHWYFNIGX
7IPIGX?1IWWEKIAwIPHg?(IGSA
7IXXLIGLEVEGXIVMRTYXQSHIXSSXLIVXLERXLI
%PTLEFIXMGEPMRTYXQSHIXSWIPIGXg?(IGSA
9WIXLITEPIXXIXSHIGSVEXIEQIWWEKI
M?'PSWIA
b8STVIZMI[XLI(IGSQEMPQIWWEKI
4VIWWM?1IRYA 4VIZMI[
C?7IXA I?7IRHA
:MI[MRK6IGIMZIHMQSHI1EMP
;LIRXLI*31%XIVQMREPMWMRXLIWIVZMGIEVIE
MQSHIQEMPMWEYXSQEXMGEPP]WIRXJVSQXLIMQSHI
GIRXIV
;LIRMQSHIQEMPEVVMZIWETTIEVWEX
XLIXSTSJXLIWGVIIR
;LIRXLIVIGITXMSRGSQTPIXIWXLI6IGIMZIVIWYPXW
WGVIIRETTIEVW
1EMP 7IPIGXEJSPHIV
7IPIGXEQEMPXSHMWTPE]
'LIGOMRKJSVRI[MQSHIQEMP
;LIRXLI*31%XIVQMREPMWSYXSJWIVZMGIEVIE
IXGERHXLIVIJSVIMQSHIQEMPWEVIJEMPIHXSFI
VIGIMZIHXLI]EVIWXSVIHMRXLIMQSHIGIRXIV
'LIGO[MXLXLIMQSHIGIRXIVJSVRI[QIWWEKIW
XSVIGIMZIWXSVIHMQSHIQEMPW
7XERHF]HMWTPE] g'LIGORI[
QIWWEKIW
6ITP]MRKXSMQSHIQEMP
6ITP]XSXLIWIRHIVSJMQSHIQEMP6ITP]MRKGER
FIQEHIF]IRXIVMRKRI[XI\XSVUYSXMRKXLIXI\X
SJXLIVIGIMZIHMQSHIQEMP
6IGIMZIHQEMPHIXEMPWGVIIR M?1IRYA
6ITP]*SV[EVH 6ITP]6ITP][MXL
UYSXI
)RXIVEWYFNIGXERHQIWWEKI
I?7IRHA
7SVXMRKQEMPWEYXSQEXMGEPP]XSJSPHIVW
7IXWSVXMRKGVMXIVMEXSEYXSQEXMGEPP]WEZIQEMPWXS
WTIGMwIHJSPHIVW
'VIEXIWSVXMRKJSPHIVWMR-RFS\ERH3YXFS\FIJSVILERH
7XERHF]HMWTPE] g1EMPWIXXMRK
%YXSWSVX
7SVXMRFS\7SVXSYXFS\
7IPIGXXLIWSVXMRKVYPIWIXXMRKwIPH
7IPIGXXLI7SVXMRKGVMXIVMEwIPH 7IXXLI
WSVXMRKGVMXIVME
7IPIGXXLI*SPHIVXSWSVXMRXSwIPH 7IPIGX
XLIJSPHIVJSVWSVXMRKQEMPW
I
?(SRIA
9WMRK717
'VIEXMRKERHWIRHMRK717
7IRHEQIWWEKIEHHVIWWIHXSEQSFMPITLSRI
RYQFIV
7XERHF]HMWTPE] g717
'SQTSWI717
7IPIGX wIPH (MVIGXMRTYX )RXIVE
TLSRIRYQFIV
7IPIGX wIPH )RXIVEQIWWEKI
I?7IRHA
:MI[MRKVIGIMZIH717
717QIWWEKIWEVIWIRXEYXSQEXMGEPP][LIRXLI
*31%XIVQMREPMWMRXLIWIVZMGIEVIE
;LIR717EVVMZIWETTIEVWEXXLIXSTSJXLIWGVIIR
;LIRXLIVIGITXMSRGSQTPIXIWXLI6IGIMZIVIWYPXW
WGVIIRETTIEVW
717 7IPIGXEJSPHIV
7IPIGX717XSHMWTPE]
4LSRIFSSO
8[SX]TIWSJ4LSRIFSSOWEVIEZEMPEFPI[MXLXLI
*31%XIVQMREP*31%XIVQMREP4LSRIFSSOXSFI
WEZIHSRXLI*31%XIVQMREPERH9-14LSRIFSSOXS
FIWEZIHSRXLI9-1)RXV]MXIQWXLEXGERFIWEZIH
WIXJSVIEGL4LSRIFSSOEVIEWJSPPS[W
-XIQ *31%XIVQMREP
4LSRIFSSO
9-1
4LSRIFSSO
2YQFIVSJ
IRXVMIW
9TXSIRXVMIW
9TXS
IRXVMIW
)RXV]
HIXEMPW
2EQI
6IEHMRK
IRXV] IRXV]
4LSRI
RYQFIV
IRXVMIW IRXV]
1EMP
EHHVIWW
IRXVMIW IRXV]
+VSYT KVSYTW KVSYTW
-QEKI IRXV] 2SXEZEMPEFPI
3XLIV
WIXXMRKW
7IGVIXGSHI
6MRKXSRI1EMP
VMRKXSRIIXG
2SXEZEMPEFPI
%HHMRK4LSRIFSSO)RXVMIW
7XERHF]HMWTPE] DJSVSZIVWIGSRH
7IPIGX wIPH 4LSRI9-1
7IXIEGLMXIQ
I?(SRIA
%HHMRK4LSRIFSSOIRXVMIWJVSQ6IHMEP
SV6IGIMZIHGEPPW
7XERHF]HMWTPE] R6IHMEPSVL
6IGZ'EPPW
1SZIXLIGYVWSVXSXLITLSRIRYQFIVXS
EHH C?(IXEMPA M?1IRYA %HHXS
TLSRIFSSO
2I[VIKMWXVEXMSR
%HHXLIIRXV]XS4LSRIFSSO I?(SRIA
1EOMRKE'EPPJVSQ4LSRIFSSO
7XERHF]HMWTPE] D
1SZIXLIGYVWSVXSXLIIRXV]XSGEPP A
b8SQEOIEZMHISTLSRIGEPP
4VIWWg?:4LSRIA
)HMXMRK4LSRIFSSO)RXVMIW
7XERHF]HMWTPE] D7IPIGXXLIIRXV]
XSIHMX M?1IRYA )HMX )HMXIEGL
MXIQ
%JXIVIHMXMRKI?(SRIA =IW
(IPIXMRK4LSRIFSSO)RXVMIW
7XERHF]HMWTPE] D7IPIGXXLIIRXV]
XSHIPIXI M?1IRYA (IPIXI
=IW
'LIGOMRK4LSRIFSSO7XSVEKI7XEXYW
'LIGOXLI4LSRIFSSOWXSVEKIWXEXYWSJXLI*31%
XIVQMREPERH9-1
7XERHF]HMWTPE]M4LSRIFSSO
2SSJTLSRIFSSO
:MI[MRK'EPP1EMP,MWXSV]
7XERHF]HMWTPE] M4LSRIFSSO
'EPP1EMPLMWXSV] 7IPIGXXLIPSKXSZMI[
MQSHI*YPP&VS[WIV
MQSHI
MQSHIMWEWIVZMGIXLEXQEOIWYWISJXLIHMWTPE]
SJXLI*31%XIVQMREPWYTTSVXMRKMQSHIMQSHI
XIVQMREPXSIREFPI]SYXSYWISRPMRIWIVZMGIW
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XLIGST]VMKLXLSPHIVW
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JSVYWI
*SVHIXEMPWSR7IKWIVZMGIZMWMX[IFWMXIWFIPS[
8LI%WWSGMEXMSRJSV4VSQSXMSRSJ(MKMXEP&VSEHGEWXMRK
4'LXXT[[[HTESVNTIRKPMWL
MQSHILXXT[[[HTESVNTWIKO.ETERIWISRP]
7IKMWRSXEZEMPEFPISZIVWIEW
7MKREP
7IKMWSRISJXLIFVSEHGEWXMRKWIVZMGIWERH
VIGIMZIWEWMKREPFVSEHGEWX[EZIHMJJIVIRXJVSQ
XLI*31%WIVZMGI
7IKQE]RSX[SVOTVSTIVP]MRXLIJSPPS[MRKTPEGIW
4PEGIXLEXMWJEVJVSQXLIXS[IV[LMGLWIRHWXLI
FVSEHGEWX[EZI
1SYRXEMREVIEWSVFILMRHEFYMPHMRK
-REXYRRIPYRHIVKVSYRHSVVIGIWWSJEFYMPHMRK
 8LIWMKREPGSRHMXMSRQE]FIMQTVSZIHF]QSZMRK
XLI*31%XIVQMREPE[E]JVSQSVGPSWIXS]SYSVF]
QSZMRK]SYVWIPJXSERSXLIVTPEGI
&EXXIV]PIZIP
-J]SYXV]XSYWI7IK[LIRXLIFEXXIV]PIZIP
MWPS[XLIFEXXIV]EPIVXXSRIWSYRHWERHE
GSRwVQEXMSRWGVIIRETTIEVWEWOMRK[LIXLIV
XSEGXMZEXI7IK%PWS[LIRXLIFEXXIV]PIZIP
FIGSQIWPS[[LMPI[EXGLMRKSVVIGSVHMRKE7IK
TVSKVEQXLIFEXXIV]EPIVXXSRIWSYRHW
-JRSSTIVEXMSRMWTIVJSVQIHJSVETTVS\MQEXIP]SRI
QMRYXISREGSRwVQEXMSRWGVIIR7IKEYXSQEXMGEPP]
IRHW
1IWWEKIWSRXLIWGVIIR[LIR]SYYWI
7IKJSVXLIwVWXXMQI
;LIR]SYYWI7IKJSVXLIwVWXXMQIEJXIVTYVGLEWI
EGSRwVQEXMSRWGVIIRSJIWGETIGPEYWIETTIEVW
6IEHIEGLGPEYWIERHTVIWWC?3/A%JXIVXLMWE
GSRwVQEXMSRWGVIIRHSIWRSXETTIEV
;EXGLMRK7IK
7IXXMRKGLERRIPW
8S[EXGL7IKQEOI'LERRIPWIXXMRKWERHWEZIE
GLERRIPPMWXFIJSVILERH
)\EQTPI-JRSGLERRIPPMWXMWWEZIH
7XERHF]HMWTPE]M7IK
'LERRIPWIXXMRK
7IPIGXEVIE 7IPIGXEREVIE 7IPIGXE
TVIJIGXYVI
C?7IPIGXA =IW
4IVJSVQ%YXSGLERRIPWIX[MXLMRXLIWIVZMGIEVIEJSV
HMKMXEPXIVVIWXVMEPFVSEHGEWXMRK
-RJSVQEXMSR
%GXMZEXMRK7IK
7XERHF]HMWTPE]T
:MI[MRKERH3TIVEXMRK7IK;EXGLMRK7GVIIR
:MHIS
7YFXMXPI
(EXEFVSEHGEWXMRK
6IQSXIGSRXVSPPIV
RYQFIV
6IGITXMSRPIZIPSJ
FVSEHGEWX[EZI
'LERRIPREQI
TVSKVEQREQI
:SPYQI
/I]STIVEXMSRWSR7IK[EXGLMRKWGVIIR
3TIVEXMSR (IWGVMTXMSR
HFE%HNYWXZSPYQI
EJSVSZIVWIGSRH 1YXI
J
(MEPOI]W
*
#7IPIGXEGLERRIP
g(MWTPE]TVSKVEQPMWX
P=IW )\MX7IK
1YWMG
1YWMG:MHIS'LERRIP
1YWMG:MHIS'LERRIPMWEJIIFEWIHWIVZMGI
VIUYMVMRKEWYFWGVMTXMSR=SYEPWSRIIHXSWYFWGVMFI
XSMQSHIERHMQSHITEGOIXxEXVEXIWIVZMGI
-REHHMXMSRXSXLIYWEKIJIIJSVXLI1YWMG:MHIS
'LERRIPWSQITVSKVEQWQE]VIUYMVIEHHMXMSREP
MRJSVQEXMSRJIIW
%JXIVWYFWGVMFMRKXS1YWMG:MHIS'LERRIPMJ]SYMRWIVX
XLI9-1MRXSE1YWMG:MHIS'LERRIPMRGSQTEXMFPI
*31%XIVQMREPXLIWIVZMGIFIGSQIWYREZEMPEFPI
,S[IZIVWIVZMGIJIIW[MPPWXMPPETTP]YRPIWW]SYGERGIP
XLI1YWMG:MHIS'LERRIPWYFWGVMTXMSR
=SYGERRSXWIXSVSFXEMRTVSKVEQWHYVMRK
MRXIVREXMSREPVSEQMRK;LIR]SYKSSZIVWIEWLEPX
XLIHMWXVMFYXMSRSJTVSKVEQWFIJSVILERH;LIR]SY
GSQIFEGOXS.ETERVIWYQIWXEVXMRKHMWXVMFYXMSR
 4EGOIXGSQQYRMGEXMSRGLEVKIWETTP]MJXV]MRKXSWIX
SVSFXEMRTVSKVEQWHYVMRKMRXIVREXMSREPVSEQMRK
*SVHIXEMPWSR1YWMG:MHIS'LERRIPWII1SFMPI
4LSRI9WIVW+YMHI?MQSHIA*31%ZIVWMSR
7IXXMRK4PE]MRK4VSKVEQW
7IXXMRKTVSKVEQW
7XERHF]HMWTPE]M197-'
1YWMG:MHIS'L
7IXTVSKVEQ
*SPPS[SRWGVIIRMRWXVYGXMSRWXSWIX
TVSKVEQW
4PE]MRKTVSKVEQW
7XERHF]HMWTPE]M197-'
1YWMG:MHIS'L 7IPIGXETVSKVEQ
:MI[MRKERH3TIVEXMRK1YWMG
4PE]IV7GVIIR
7SRKXMXPI
EVXMWXREQI
%PFYQREQI
:SPYQI
.EGOIXMQEKI
P]VMGW
4PE]FEGO
TVSKVIWWFEV
)PETWIHXMQI
XSXEPXMQI
/I]STIVEXMSRWSR1YWMGTPE]IVWGVIIR
3TIVEXMSR (IWGVMTXMSR
C?4EYWI4PE]A 4EYWITPE]
HFE%HNYWXZSPYQI
J*MRHFIKMRRMRKSJXLIWSRKSV
TPE]TVIZMSYWWSRKRI\XWSRK
J,SPHHS[R 6I[MRHJEWXJSV[EVH[LMPI
LSPHMRKHS[R
87LS[LMHINEGOIXMQEKIP]VMGW
P)\MX197-'TPE]IV
(S[RPSEHMRK1YWMG(EXEJVSQ7MXIW
(MWTPE]EWMXIXLEXGSRXEMRW'LEOY9XE
*YPPWSRKW 7IPIGXE'LEOY9XE*YPP
WSRKXSHS[RPSEH
7EZI 7IPIGXWEZIPSGEXMSR
&IJSVIHS[RPSEHMRKQYWMGHEXEJVSQ[IFWMXIWVIEHXLI
PMGIRWIEKVIIQIRXPMGIRWIERHTVSLMFMXIHEGXMZMXMIW
IXGGEVIJYPP]
1YWMGHEXEWEZIHSRXLI*31%XIVQMREPSVSRE
QMGVS7(GEVHGERFIYWIHJSVTIVWSREPYWISRP];LIR
YWMRKHSRSXZMSPEXIEXLMVHTEVX]WMRXIPPIGXYEPTVSTIVX]
VMKLXWYGLEWGST]VMKLXERHSXLIVVMKLXW(SRSXGST]
SVQSZIQYWMGHEXEWEZIHSRXLI*31%XIVQMREPSVSR
EQMGVS7(GEVHXSSXLIVQIHMEWYGLEWE4'
'LEOY9XE*YPPMWEVIKMWXIVIHXVEHIQEVOSJ7SR]1YWMG
)RXIVXEMRQIRX-RG
-RJSVQEXMSR
4PE]MRK1YWMG(EXE
)\EQTPI8STPE]QYWMGMR%PPWSRKW
Y
%PPWSRKW
1SZIXLIGYVWSVXSQYWMGHEXE C?4PE]A
M TTPM
M TTPMMWWSJX[EVIJSVMQSHIGSQTEXMFPIQSFMPI
TLSRIW(S[RPSEHZEVMSYWWSJX[EVIJVSQMQSHI
WMXIWXSYWIXLI*31%XIVQMREPQSVIGSRZIRMIRXP]
F]YTHEXMRKWXSGOTVMGISV[IEXLIVMRJSVQEXMSR
EYXSQEXMGEPP]SVIRNS]MRKKEQIW[MXLSYX
GSRRIGXMRKXSRIX[SVOIXG
4EGOIXGSQQYRMGEXMSRGLEVKIWETTP]
*SVSZIVWIEWYWITEGOIXGSQQYRMGEXMSRGLEVKIW
HMJJIVJVSQHSQIWXMGGLEVKIW
*SVHIXEMPWSRM TTPMWII1SFMPI4LSRI9WIVW+YMHI
?MQSHIA*31%ZIVWMSR
(S[RPSEHMRKM TTPMJVSQWMXIW
(S[RPSEHWSJX[EVIJVSQEWMXIERHWEZIMXXSXLI
*31%XIVQMREP
;LMPIZMI[MRKEWMXI 7IPIGXWSJX[EVI
=IW
(S[RPSEHGSQTPIXIW =IW
8LIHS[RPSEHIHWSJX[EVIWXEVXW
7XEVXMRKM TTPM
7XERHF]HMWTPE]IJSVSZIVWIGSRH
7IPIGXWSJX[EVI
b8SI\MXM TTPM
4VIWWP=IW
(IPIXMRKM TTPM
7XERHF]HMWTPE]
I
JSVSZIVWIGSRH
1SZIXLIGYVWSVXSWSJX[EVI
M
?1IRYA
(IPIXI 8LMWMXIQ =IW
-JHIPIXIHTVIMRWXEPPIHM TTPM]SYGERHS[RPSEH
JVSQ;3;0+WMXI.ETERIWISRP]*VSQXLMWWMXI
]SYGERHS[RPSEHTVIMRWXEPPIH(IGSQEMPTMGXYVI
(IGSQEMPTMGXSKVEQ[EPPTETIVQIPSH]MQSXMSR
IXGEW[IPPEWM TTPM
7XERHF]HMWTPE] IM1IRY 
1IRY0MWX  1SFMPI4LSRI
1ERYJEGXYVIVW ;3;0+
 4EGOIXGSQQYRMGEXMSRGLEVKIETTPMIWJSV
HS[RPSEHMRK
-RJSVQEXMSR
MQSXMSR
MQSXMSRMWEQSZMRKTMGXYVIHEXE[MXLZMHISERH
WSYRHMQSXMSRGERFIHS[RPSEHIHJVSQMQSXMSR
WMXIWERHGERFITPE]IHWEZIHERHWIXEWXLI
7XERHF]HMWTPE]SVVMRKXSRIIXG
(S[RPSEHMRKMQSXMSRJVSQWMXIW
;LMPIZMI[MRKEWMXI 7IPIGXMQSXMSR
%JXIVTPE]FEGOSVHS[RPSEHMRK7EZI
4PE]MRKMQSXMSR
4PE]QSZMRKTMGXYVIW]SYVIGSVHIHSVMQSXMSR
HS[RPSEHIHJVSQWMXIWSVMQSHIQEMPW
7XERHF]HMWTPE]M(EXEFS\
MQSXMSR
1SZIXLIGYVWSVXSEJSPHIV C?3TIRA
1SZIXLIGYVWSVXSEwPIC?4PE]A
*MPIHMWTPE]
REQI
:SPYQI
4PE]FEGO
TVSKVIWWFEV
)PETWIHXMQI
XSXEPXMQI
MQSXMSRTPE]FEGO
WGVIIR
/I]STIVEXMSRWSRMQSXMSRTPE]FEGOWGVIIR
3TIVEXMSR (IWGVMTXMSR
C?4EYWI4PE]A 4EYWITPE]
I?7XSTA 7XST
J4PE]TVIZMSYWwPIRI\XwPI
L,SPHHS[R 6I[MRHZMHISWSYRH
[LMPILSPHMRKHS[R
R,SPHHS[R *EWXJSV[EVHZMHISWSYRH
[LMPILSPHMRKHS[R
FEH%HNYWXZSPYQI
3WEMJY/IMXEM
3WEMJY/IMXEMMWIUYMTTIH[MXLXLI-'GEVHERH
IREFPIW]SYXSTE]F]LSPHMRKXLI*31%XIVQMREPSR
XLIWGERRMRKHIZMGIEXWLSTWIXG
-REHHMXMSR]SYGERHITSWMXIPIGXVSRMGQSRI]ERH
GLIGO]SYVFEPERGISVZMI[YWEKILMWXSV]YWMRK
GSQQYRMGEXMSR-RSVHIVXSYWIWEJIP]WIGYVMX]MW
JYPP]WIGYVI
*SVHIXEMPWSR3WEMJY/IMXEMWII1SFMPI4LSRI
9WIVW+YMHI?MQSHIA*31%ZIVWMSR
8SYWI3WEMJY/IMXEMGSQTEXMFPIWIVZMGIW]SYRIIH
XSHS[RPSEH3WEMJY/IMXEMGSQTEXMFPIM TTPMJVSQ
3WEMJY/IMXEMGSQTEXMFPIWMXIWERHQEOIWIXXMRKW
(EXEMRGPYHMRKIPIGXVSRMGQSRI]TSMRXWIXGWEZIH
MRXLI-'GEVHQE]FIPSWXSVEPXIVIHHYIXSXLI
*31%XIVQMREPQEPJYRGXMSR2SXIXLEX]SYEVIEWOIH
XSHIPIXIHEXEMJ]SYPIEZIXLI*31%XIVQMREPJSV
VITEMVWIXG*SVWIVZMGIWWYGLEWVIMWWYIVIWXSVEXMSR
XIQTSVEV]WXSVEKISVXVERWJIVSJHEXEI\GITXJSVXLI
XVERWJIVF]M'XVERWJIVWIVZMGIGSRXEGXXLITVSZMHIVSJ
3WEMJY/IMXEMGSQTEXMFPIWIVZMGI1EOIWYVIXSYWIE
WIVZMGIXLEXTVSZMHIWEFEGOYTWIVZMGIJSVMQTSVXERX
HEXE
WLEPPRSXFIPMEFPIJSVER]PSWWSVEPXIVEXMSR
SJHEXEWEZIHMRXLI-'GEVHSVHEQEKIVIPEXIHXS
3WEMJY/IMXEMWIVZMGIGEYWIHF]ER]VIEWSRWYGLEW
QEPJYRGXMSRSVQSHIPGLERKI
-JXLI*31%XIVQMREPMWWXSPIRSVPSWXMQQIHMEXIP]
GSRXEGX]SYVTVSZMHIVSJ3WEMJY/IMXEMGSQTEXMFPI
WIVZMGIEFSYXLERHPMRKXLIXVSYFPI
)ZIR[LIR]SYEVIGEPPMRKGSRRIGXMRKXLI*31%
XIVQMREPXSMQSHIXLITS[IVMWXYVRIHSJJSVFEXXIV]
PIZIPFIGSQIWPS[IV]SYGERYWIXLI3WEMJY/IMXEM
JYRGXMSRF]LSPHMRK QEVOSRXLIWGERRMRKHIZMGI
3WEMJY/IMXEMGSQTEXMFPIM TTPMGERRSXFIEGXMZEXIH
9WMRK3WEMJY/IMXEM
,SPH QEVOSJXLI*31%XIVQMREPSRXLIWGERRMRK
HIZMGIXSYWIEWIPIGXVSRMGQSRI]JSVTE]QIRXSVXVEJwG
XMGOIX8LMWJYRGXMSRGERFIYWIH[MXLSYXWXEVXMRKWSJX[EVI
8LIWXMGOIVMWEXXEGLIHEXXLIFEGOWMHISJXLIFEGO
GSZIVXSOIITXLITIVJSVQERGISJXLMWJYRGXMSR(SRSX
VIQSZIXLIWXMGOIV
,SPH QEVOSRXLIGIRXIVSJXLIWGERRMRKTEVX
7GERRMRKTEVXSJXLI
WGERRMRKHIZMGI
QEVO
'SRZIRMIRX8SSPW
9WMRK7GLIHYPI
7XERHF]HMWTPE]U1SZIXLIGYVWSV
XSHEXIXSWEZIXS7GLIHYPI I?2I[A
+IRIVEP
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XSWIPIGX+IRIVEPMWRSXVIUYMVIH
7IXIEGLMXIQ
I?(SRIA
9WMRK%PEVQ
7XERHF]HMWTPE]M0MJI/MX
%PEVQ
1SZIXLIGYVWSVXSEREPEVQXSIHMX
C?)HMXA
7IXIEGLMXIQ
I?(SRIA
9WMRK&EV'SHI6IEHIV
7GERMRJSVQEXMSRIQFIHHIHMR.%2GSHISV56GSHI
YWMRKXLI3YXIVGEQIVE
;LIRWGERRMRKEFEVGSHIOIITXLI3YXIVGEQIVE
GQE[E]JVSQEFEVGSHI
7XERHF]HMWTPE]M0MJI/MX
&EVGSHIVIEHIV
(MWTPE]XLIGSHIXSWGERSRXLIWGVIIR
C?7GERA
%JXIVJSGYWMWEHNYWXIHEYXSQEXMGEPP]XLIGSHIMW
WGERRIH%JXIVWGERRMRKGSQTPIXIWXLIXSRIWSYRHW
ERHXLIWGERRIHHEXEMWHMWTPE]IH
;LMPIXLI1ERRIVQSHIMWWIXXLIXSRIHSIWRSX
WSYRH
9WIWGERRIHHEXE
8LIHMWTPE]SVSTIVEXMSRHMJJIVWHITIRHMRKSRXLI
X]TIWSJWGERRIHHEXE
(EXE1EREKIQIRX
9WMRKQMGVS7('EVH
'ST]wPIWWEZIHMR(EXEFS\SRXLI*31%XIVQMREP
WYGLEWMQEKIWQSZMRKTMGXYVIWMQSXMSRXSE
QMGVS7(GEVH%PWSHMWTPE]wPIWWEZIHJVSQE4'XS
EQMGVS7(GEVHSRXLI*31%XIVQMREP
0&WYTTSVXWEQMGVS7(GEVHSJYTXS+&ERH
EQMGVS7(,'GEVHSJYTXS+&GSQQIVGMEPP]
EZEMPEFPIEWSJ2SZIQFIV
-RWIVXMRKEQMGVS7(GEVH
&IJSVIMRWIVXMRKEQMGVS7(GEVHQEOIWYVIXSXYVR
XLITS[IVSJJ
3TIRXLIQMGVS7(GEVHWPSXGSZIVa
ERHVSXEXIMXMRXLIHMVIGXMSRSJb
7PS[P]MRWIVXEQMGVS7(GEVH[MXLXLI
QIXEPGSRXEGXWWMHIYTYRXMPMXGPMGO
'PSWIXLIQMGVS7(GEVHWPSXGSZIV
6IQSZMRKEQMGVS7(GEVH
*SPPS[7XITMR-RWIVXMRKEQMGVS7(GEVH
XSSTIRXLIGSZIVERHTYWLEQMGVS7(GEVH
WSJXP]MRXLIHMVIGXMSRSJXLIEVVS[
8LIQMGVS7(GEVHTSTWSYXWPMKLXP]
6IQSZIXLIQMGVS7(GEVH
6IWIXXMRKEQMGVS7(GEVH
6IWIXMRMXMEPM^IEQMGVS7(GEVHWSXLEXMXGERFI
YWIHSRXLI*31%XIVQMREP
7XERHF]HMWTPE]M0MJI/MX
QMGVS7( 6IWIXQMGVS7(
=IW )RXIVXLI8IVQMREPWIGYVMX]GSHI
1EOIWYVIXSYWIXLMW*31%XIVQMREP[LIRVIWIXXMRK
EQMGVS7(GEVH
2SXIXLEXEPPHEXESRXLIQMGVS7(GEVHMWHIPIXIH
[LIRVIWIXXMRK
-RJSVQEXMSR
:MI[MRKTPE]MRKwPIWSREQMGVS7(GEVH
:MI[TPE]wPIWSREQMGVS7(GEVHMRXLIWEQI[E]
EWSRXLI*31%XIVQMREPYWMRK(EXEFS\
7XERHF]HMWTPE]M(EXEFS\
1]TMGXYVI1YWMGMQSXMSR1IPSH]
1SZIXLIGYVWSVXSQMGVS7(
C?3TIRA
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MWHMWTPE]IHMRWXIEHSJQMGVS7(
'ST]MRKQSZMRKwPIWFIX[IIRXLI*31%
XIVQMREPERHEQMGVS7(GEVH
'ST]QSZIwPIWFIX[IIRXLI*31%XIVQMREPERH
EQMGVS7(GEVHF]GST]MRKQSZMRKwPIWFIX[IIR
XLIQMGVS7(JSPHIVERHSXLIVJSPHIVWMR(EXE
FS\
)\EQTPI8SQSZIEGEQIVEMQEKIWEZIHSRXLI
*31%XIVQMREPXSEQMGVS7(GEVH
7XERHF]HMWTPE]M(EXEFS\
1]TMGXYVI
1SZIXLIGYVWSVXSEJSPHIV C?3TIRA
7IPIGXEJSPHIVSXLIVXLERQMGVS7(
1SZIXLIGYVWSVXSEwPIM?1IRYA
1SZI 3RI
)\XIVREPQIQSV]
1SZIXLIGYVWSVXSEHIWXMREXMSRJSPHIV
I?3TIRA C?7IPIGXA
&EGOMRKYTHEXE
&EGOYTHEXESRXLI*31%XIVQMREPXSEQMGVS7(
GEVHIXG
4IVWSREPMRJSVQEXMSRMRGPYHIWXLIJSPPS[MRKMXIQW
4LSRIFSSO
7GLIHYPI
8I\XQIQS
8SH S PM W X
-RFS\
3YXFS\
9RWIRXQIWWEKI
&SSOQEVO
7XERHF]HMWTPE]M0MJI/MX
QMGVS7( 4-1
I?&EGOYTA 7IPIGXEX]TISJHEXEXS
GST]
)RXIVXLI8IVQMREPWIGYVMX]GSHI =IW
4IVJSVQMRK-RJVEVIH'SQQYRMGEXMSR
9WIMRJVEVIHHIZMGIW[MXLMREHMWXERGISJ
ETTVS\MQEXIP]GQ
(SRSXQSZIXLI*31%XIVQMREPYRXMPHEXEI\GLERKI
GSQTPIXIW
-J]SYLSPHXLI*31%XIVQMREPMR]SYVLERH[LIR
TIVJSVQMRKMRJVEVIHGSQQYRMGEXMSRFIWYVIXSLSPHMX
WIGYVIP]WSXLEXMXMWRSXWLEOIR
-RJVEVIHTSVX
HIKVIIW
;MXLMRETTVS\
GQ
HIKVIIW
7IRHMRK6IGIMZMRK(EXEF]
-RJVEVIH'SQQYRMGEXMSR
7IXXLIVIGIMZMRKHIZMGIXSXLIMRJVEVIHVIGIMZMRKQSHI
FIJSVIWIRHMRKHEXE
7IRHMRKETMIGISJHEXE
)\EQTPI8SWIRHE4LSRIFSSOIRXV]
7XERHF]HMWTPE]D1SZIXLI
GYVWSVXSXLIIRXV]XSWIRH M?1IRYA
7IRH-VHEXE *SGYWIHHEXE =IW
6IGIMZMRKETMIGISJHEXE
7XERHF]HMWTPE]M0MJI/MX
6IGIMZI-VHEXE 6IGIMZI =IW
4IVJSVQMRJVEVIHXVERWQMWWMSRSTIVEXMSRW
SRXLIWIRHMRKHIZMGI
-RJVEVIHGSQQYRMGEXMSRWXEVXW
=IW
7IRHMRKEPPHEXE
)\EQTPI8SWIRHEPP4LSRIFSSOIRXVMIW
7XERHF]HMWTPE]D M ?1IRYA
7IRH-VHEXE EPPMRTLSRI
)RXIVXLI8IVQMREPWIGYVMX]GSHI )RXIV
EREYXLIRXMGEXMSRTEWW[SVH =IW
-RJVEVIHGSQQYRMGEXMSRWXEVXW
6IGIMZMRKEPPHEXE
6IGIMZMRKEPPHEXESZIV[VMXIWHEXESRXLI*31%
XIVQMREPERHHIPIXIWEPPWEZIHHEXEMRGPYHMRK
TVSXIGXIHQEMPW1EOIWYVIXLEXMQTSVXERXHEXEMW
RSXWEZIHFIJSVII\GLERKMRKEPPHEXE
7XERHF]HMWTPE]M0MJI/MX
6IGIMZI-VHEXE 6IGIMZIEPP =IW
)RXIVXLI8IVQMREPWIGYVMX]GSHI )RXIV
EREYXLIRXMGEXMSRTEWW[SVH
7IRHMRJVEVIHHEXESRXLIWIRHMRKHIZMGI
-RJVEVIHGSQQYRMGEXMSRWXEVXW
=IW
-RJVEVIHGSQQYRMGEXMSR[MXLMRJVEVIHHIZMGIWSXLIV
XLER0&QE]VIWYPXMRHEXERSXFIMRKVIGIMZIHSV
HMWTPE]IHGSVVIGXP]SRXLIVIGIMZMRKHIZMGI
-RJSVQEXMSR
7]QTXSQ 'LIGO
&IGSQIW
LSXHYVMRK
STIVEXMSRWSV
GLEVKMRK
8LI*31%XIVQMREPFEXXIV]TEGO
SVEHETXIVWQE]FIGSQILSXHYVMRK
STIVEXMSRWSVGLEVKMRKSV[LIR
YWMRKM TTPMZMHISTLSRISV7IK
JYRGXMSRIXGJSVEPSRKXMQI[LMPI
GLEVKMRK-RXLMWGEWII\MXJYRGXMSRW
MRYWIERH[EMXYRXMPXLI*31%
XIVQMREPFIGSQIWGSSPHS[R
&EXXIV]YWEKI
XMQIMWWLSVX
-WXLI*31%XIVQMREPPIJX[MXLXLI
SYXSJWIVZMGIEVIEGSRHMXMSRJSVE
PSRKXMQI#%WXLI*31%XIVQMREP
WIEVGLIWJSVVEHMS[EZIXSQEOI
GSQQYRMGEXMSRTSWWMFPIYRHIVXLI
SYXSJWIVZMGIEVIEGSRHMXMSRQSVI
IPIGXVMGMX]MWGSRWYQIHXLERYWYEP
8LIFEXXIV]TEGOYWEKIXMQI
HMJJIVWHITIRHMRKSRXLIEQFMIRX
IRZMVSRQIRXSVXLIHIKVEHEXMSRPIZIP
8LIFEXXIV]TEGOMWEGSRWYQEFPI
8LIEZEMPEFPIYWEKIXMQIWLSVXIRW
IZIV]XMQIXLIFEXXIV]TEGOMW
VIGLEVKIH
-JXLIYWEKIXMQIFIGSQIWI\XVIQIP]
WLSVXIVXLEREXXLIXMQISJTYVGLEWI
IZIRMJXLIFEXXIV]TEGOMWJYPP]
GLEVKIHTYVGLEWIXLIWTIGMwIH
FEXXIV]TEGO
7]QTXSQ 'LIGO
4S[IV
XYVRWSJJSV
EYXSQEXMG
VIWXEVXSGGYVW
-JXLIFEXXIV]TEGOXIVQMREPMWHMVX]
XLIGSRXEGXQE]FIGSQITSSVERH
XLITS[IVQE]FIXYVRIHSJJ-JMXMW
HMVX]GPIER[MXLEHV]GPSXLSVGSXXSR
W[EF
/I]WHSRSX
VIWTSRH
-W0SGOEPPEGXMZEXIH#
9-1MWRSX
VIGSKRM^IH
-WXLI9-1MRWXEPPIHMRXLIVMKLX
HMVIGXMSR#
'EPPWGERRSX
FIQEHI[MXL
HMEPOI]W
-W(MEPMRKGEPPPSGOWIX#
-W0SGOEPPWIX#
-W7IPJQSHIWIX#
7]QTXSQ 'LIGO
'ERRSXXEPO
 HSIW
RSXHMWETTIEV
IZIR[LIR
]SYQSZI
SVQEOMRK
VIGIMZMRKGEPPW
MWYREZEMPEFPI
EPXLSYKLVEHMS
[EZIMWWXVSRK
IRSYKL
8YVRXLITS[IVSJJERHSRSVVIQSZI
ERHMRWXEPPFEXXIV]TEGOSVXLI9-1
)ZIR[LIR*31%XIVQMREPMWRSXSYX
SJWIVZMGIEVIESVWMKREPWXVIRKXL
MWWLS[REW GEPPWQE]RSXFI
QEHISVVIGIMZIHHYIXSXLIX]TISJ
VEHMS[EZIW1SZIXSSXLIVTPEGIERH
GEPPEKEMR
-WMRGSQMRKVIWXVMGXMSRWYGLEW6INIGX
SRPMWXSV%GGITX6INIGXGEPPWIX#
(ITIRHMRKSRGVSWWMRKSJVEHMS
[EZIWGEPPWSVQEMPWEVIGVSWWIHEX
XLIGVS[HIHTPEGIWERHGSRRIGXMSR
WXEXYWQE]RSXFIKSSH-RXLMWGEWI
4PIEWI[EMXJSVE[LMPIETTIEVWERH
XLIGEPPIVLIEVWEFYW]XSRI1SZIXS
SXLIVTPEGISVGEPPEKEMRPEXIV
'ERRSXYWI
3WEMJY/IMXEM
;LMPIVIQSZMRKXLIFEXXIV]TEGO
SVWIXXMRK3QEOEWI0SGO-'GEVH
JYRGXMSRWFIGSQIYREZEMPEFPI
VIKEVHPIWWSJ-'GEVHPSGOWIXXMRKW
-WXLI-'GEVHPSGOWIX#
-W QEVOSRXLI*31%XIVQMREP
LIPHSZIVEWGERRMRKHIZMGI#
;EVVERX]ERH%JXIV7EPIW7IVZMGI
;EVVERX]
&IWYVIXSVIGIMZIE[EVVERX]EXXLIXMQISJTYVGLEWI
SJXLI*31%XIVQMREP6IEHGSRXIRXWSJXLI[EVVERX]
ERHGSRwVQMRJSVQEXMSRWYGLEWWLSTREQIERHHEXI
SJTYVGLEWIERHOIITMXMREWEJITPEGI-JRIGIWWEV]
MXIQWEVIRSXHIWGVMFIHMQQIHMEXIP]GSRXEGXXLIWLST
SJTYVGLEWI8LI[EVVERX]JSVJVIIVITEMVMWZEPMHJSV
SRI]IEVJVSQXLIHEXISJTYVGLEWI
8LMWTVSHYGXERHMXWEGGIWWSVMIWEVIWYFNIGXXS
GLERKIMRTEVXSV[LSPIJSVMQTVSZIQIRX[MXLSYX
TVMSVRSXMGI
%JXIVWEPIWWIVZMGI
*SVTVSFPIQW[MXL]SYV*31%XIVQMREP
&IJSVIEWOMRKVITEMVWGLIGO8VSYFPIWLSSXMRKMR
XLMWQERYEPSV+YMHI.ETERIWISRP]MRWXEPPIH
MRXLMW*31%XIVQMREP-JXLITVSFPIQWXMPPTIVWMWXW
GSRXEGX6ITEMVWEXXLIFEGOSJXLMWQERYEPERH
GSRWYPXXLIQ
*SVVITEMVWEJXIVMRUYMV]
&VMRK]SYV*31%XIVQMREPXSEVITEMVGSYRXIV
WTIGMwIHF]XXX6ITEMVWEVIEGGITXIH
HYVMRKFYWMRIWWLSYVWSJEVITEMVGSYRXIV2SXI
XLEXMXQE]XEOIWSQIHE]WXSVITEMVXLIXIVQMREP
HITIRHMRKSRXLIQEPJYRGXMSRWXEXI
b
(YVMRKXLI[EVVERX]TIVMSH
8LI*31%XIVQMREPMWVITEMVIHEXRSGLEVKIYRHIVXLI
GSRHMXMSRWSJXLI[EVVERX]
1EOIWYVIXSFVMRKXLI[EVVERX]JSVVITEMV=SY[MPP
FIGLEVKIHIZIRHYVMRKXLI[EVVERX]TIVMSHMJXLI
[EVVERX]MWRSXTVIWIRXIHSVXLIXVSYFPISVHEQEKI
MWGEYWIHF]]SYVMRETTVSTVMEXILERHPMRKWYGLEW
HEQEKIXS0'(SVGSRRIGXSVIXG
=SY[MPPFIGLEVKIHIZIRHYVMRKXLI[EVVERX]TIVMSH
MJQEPJYRGXMSRMWGEYWIHF]XLIYWISJHIZMGIWERH
GSRWYQEFPIWSXLIVXLERXLSWIWTIGMwIHF]
b
6ITEMVQE]RSXFITSWWMFPIMRXLIJSPPS[MRKGEWIW
;LIREVITEMVGSYRXIVNYHKIWXLIGEYWISJ
QEPJYRGXMSRMWI\TSWYVIXS[EXIV)\EQTPI[LIRXLI
[EXIVTVSSJWXMGOIVVIEGXW
;LIREWXLIVIWYPXSJMRWTIGXMSRGSVVSWMSRMW
JSYRHHYIXSI\TSWYVIXS[EXIVGSRHIRWEXMSRSV
W[IEXSVER]SJXLIMRXIVREPFSEVHWEVIHEQEKIHSV
HIJSVQIHHEQEKIXSXLII\XIVREPGSRRIGXSVXIVQMREP
LIEHTLSRIQMGVSTLSRIXIVQMREP0'(SVGVEGOIH
FSH]GSYPHFIXLIGEWIEW[IPP

7
MRGIXLIWIGSRHMXMSRWEVISYXWMHIXLIWGSTISJXLI
[EVVERX]ER]VITEMVWMJEXEPPTSWWMFPI[MPPFIGLEVKIH
b
%JXIVI\TMVEXMSRSJXLI[EVVERX]
%PPVITEMVWXLEXEVIVIUYIWXIHEVIGLEVKIH
b
6ITPEGIQIRXTEVXW
6ITPEGIQIRXTEVXWTEVXWVIUYMVIHXSQEMRXEMR
TVSHYGXMSRJYRGXMSR[MPPFIOITXMRWXSGOJSVJSYV
]IEVWMRTVMRGMTPIEJXIVXIVQMREXMSRSJTVSHYGXMSR
,S[IZIVVITEMVQE]RSXFITSWWMFPIHYIXSEPEGOSJ
VITPEGIQIRXTEVXWHITIRHMRKSRXLIJEMPYVITEVX
2SXIW
(SRSXQSHMJ]XLI*31%XIVQMREPSVMXWEGGIWWSVMIW
 (ITIRHMRKSRXLIHIXEMPWSJQSHMwGEXMSRVITEMVQE]
FIVIJYWIH1SHMwGEXMSRWQE]MRGPYHIXLIJSPPS[MRK
GEWIW
4YXEWXMGOIVSR0'(SVOI]W
%HHEHIGSVEXMSRXSXLI*31%XIVQMREP[MXLEHLIWMZI
6ITPEGII\XIVMSV[MXLSRISXLIVXLER
KIRYMRITVSHYGXW
 6ITEMVSJQEPJYRGXMSRSVHEQEKIGEYWIHF]
QSHMwGEXMSRMWGLEVKIHIZIRHYVMRKXLI[EVVERX]
TIVMSH
(SRSXVIQSZIXLIREQITPEXITPEGIHSRXLI*31%
XIVQMREP-JXLIHIXEMPWHIWGVMFIHSRXLIREQITPEXI
GERRSXFIGLIGOIHVITEMVQE]FIVIJYWIHEW[IGERRSX
ZIVMJ]XLIGSRJSVQMX]SJXLITVSHYGXXSXLIXIGLRMGEP
WXERHEVH
8LIWIXXMRKWSJZEVMSYWJYRGXMSRWERHMRJSVQEXMSRWYGL
EWXSXEPGEPPXMQIQE]FIGPIEVIHVIWIXF]QEPJYRGXMSR
VITEMVSVSXLIVLERHPMRKSJ*31%XIVQMREP-RWYGLE
GEWIQEOIWIXXMRKWEKEMR
8LITEVXWKIRIVEXMRKQEKRIXMWQEVIYWIHMRXLI
JSPPS[MRKTSVXMSRWSJXLI*31%XIVQMREP2SXIXLEXXLI
GEVHQE]FIGSQIYRYWEFPIMJTPEGMRKEQEKRIXMWQ
WIRWMXMZISFNIGXWYGLEWGEWLGEVHRIEVXLI*31%
XIVQMREP
4SVXMSRW7TIEOIVERHIEVTMIGI
-JXLI*31%XIVQMREPKIXW[IXSVQSMWXMQQIHMEXIP]
XYVRXLITS[IVSJJERHVIQSZIXLIFEXXIV]TEGO
ERHXLIRZMWMXEVITEMVGSYRXIV(ITIRHMRKSRXLI
GSRHMXMSRWSJXLI*31%XIVQMREPVITEMVQE]RSXFI
TSWWMFPI
MQSHI*EYPX(MEKRSWMWWMXI
'LIGO[LIXLIV]SYV*31%XIVQMREPMWTVSTIVP]
WIRHMRKVIGIMZMRKQEMPWHS[RPSEHMRKMQEKIW
QIPSHMIW%WEVIWYPXSJ]SYVGLIGOMJ]SYXLMRO
XLEXXLI*31%XIVQMREPMWQEPJYRGXMSRMRKGSRXEGX
6ITEMVWEXXLIFEGOSJXLMWQERYEP
8SEGGIWW
MQSHIJEYPXHMEKRSWMWWMXI
.ETERIWISRP]
MQSHIWMXIM1IRY
-RJSVQEXMSR
7IVZMGI*YRGXMSR
MQSHI
MQSHIJEYPXHMEKRSWMW
56GSHIJSV
EGGIWWMRK
XLIWMXI
2STEGOIXGSQQYRMGEXMSRGLEVKIWETTP]JSVMQSHI
JEYPXHMEKRSWMW
'LEVKIWETTP][LIREGGIWWMRKJVSQSZIVWIEW
9THEXMRK7SJX[EVI
9THEXIXLI*31%XIVQMREPWSJX[EVIF]TEGOIX
GSQQYRMGEXMSR[LIRMXMWRIGIWWEV]
4EGOIXGSQQYRMGEXMSRGLEVKIWHSRSXETTP]
*SVMRJSVQEXMSRSRYTHEXMRKWSJX[EVIGLIGO
XLI[IFWMXIERH YWIV
WYTTSVXMRM1IRY.ETERIWISRP]EYXSYTHEXI
2S[YTHEXIERH6IWIVZIEVIEZEMPEFPIJSV
YTHEXMRKWSJX[EVI
7SJX[EVIGERFIYTHEXIH[MXLHEXEWYGLEW
4LSRIFSSOIRXVMIWGEQIVEMQEKIWHS[RPSEHIH
HEXEVIXEMRIHMRXLI*31%XIVQMREP2SXIXLEX
LS[IZIVWYGLHEXEQE]RSXFITVSXIGXIHHITIRHMRK
SRXLIGSRHMXMSRWSJXLI*31%XIVQMREPQEPJYRGXMSR
HEQEKII\TSWYVIXS[EXIVIXG-XMWVIGSQQIRHIH
XLEX]SYQEOIEFEGOYTSJMQTSVXERXHEXE2SXIXLEX
WSQIHEXEWYGLEWHS[RPSEHIHHEXEGERRSXFI
FEGOIHYT
&IJSVIYTHEXMRKWSJX[EVI
(SRSXVIQSZIXLIFEXXIV]TEGO[LMPIYTHEXMRK
WSJX[EVI*EMPYVISJYTHEXMRKWSJX[EVIQE]VIWYPX
*YPP]GLEVKIXLIFEXXIV]TEGOFIJSVIYTHEXMRK
WSJX[EVI
7SJX[EVIYTHEXIHS[RPSEHMRKSVVI[VMXMRKQE]XEOI
XMQI
=SYGERRSXQEOISVVIGIMZIGEPPWYWIGSQQYRMGEXMSR
JYRGXMSRWSVSXLIVJYRGXMSRW[LMPIYTHEXMRKWSJX[EVI
=SYGERVIGIMZIZSMGIGEPPW[LMPIHS[RPSEHMRK
-XMWVIGSQQIRHIHXSYTHEXIWSJX[EVIMREPSGEXMSR
[MXLWXVSRKWMKREPVIGITXMSR[MXLXLVIIERXIRREFEVW
HMWTPE]IH[LMPI]SYEVIRSXQSZMRK(YVMRKWSJX[EVI
HS[RPSEHMJWMKREPWFIGSQI[IEOSVHS[RPSEHMW
WYWTIRHIHVIXV]WSJX[EVIYTHEXIMREPSGEXMSR[MXL
WXVSRKWMKREPVIGITXMSR
;LIRYTHEXMRKWSJX[EVIXLIMRJSVQEXMSRSJ]SYV
*31%XIVQMREPWYGLEWQSHIPREQISVWIVMEP
RYQFIVMWEYXSQEXMGEPP]WIRXXSXLIWIVZIVWSJX[EVI
YTHEXIWIVZIVQEREKIHF]
HSIWRSXYWIXLIWIRXMRJSVQEXMSRJSVSXLIVTYVTSWIW
XLERJSVWSJX[EVIYTHEXI
-JWSJX[EVIYTHEXIJEMPWXLIQIWWEKI6I[VMXIJEMPIH
ETTIEVWERHEPPSTIVEXMSRWFIGSQIYREZEMPEFPI-R
XLMWGEWI]SYRIIHXSFVMRKXLI*31%XIVQMREPXSE
VITEMVGSYRXIVWTIGMwIHF]
7SJX[EVIYTHEXIMWYREZEMPEFPISZIVWIEW
,S[XSYTHEXIWSJX[EVI
8SWXEVXWSJX[EVIYTHEXIWIPIGX YTHEXIRSXMGI
MGSRHMWTPE]IHSRXLI7XERHF]HMWTPE]SV
TIVJSVQJVSQXLIQIRYWGVIIR
8SWIPIGX YTHEXIRSXMGIMGSR
7XERHF]HMWTPE] C9WIKXSQSZI
XLIGYVWSVXS YTHEXIRSXMGIMGSR
C=IW )RXIVXLI8IVQMREPWIGYVMX]
GSHI
8STIVJSVQJVSQXLIQIRYWGVIIR
7XERHF]HMWTPE] M7IXXMRKW
3XLIV 7SJX[EVI9THEXI )RXIVXLI
8IVQMREPWIGYVMX]GSHI 9THEXI
'SQQYRMGEXMSRWXEVXWERHGLIGOJSVWSJX[EVI
YTHEXI
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GSRwVQEXMSRWGVIIRETTIEVW
-JYTHEXIMWRSXVIUYMVIH2SYTHEXIMWRIIHIH
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GEYWISTIVEXMSREPQEPJYRGXMSRSVWXSTEGXMZEXMRK
ETTPMGEXMSRW
8LIWGERRMRKJYRGXMSRLIPTWXSTVSXIGXXLI*31%
XIVQMREPJVSQMRZEWMSRSJHEXEXLEXGEYWIJEMPYVI[LIR
FVS[WMRK[IFTEKIWSVVIGIMZMRKQEMPIXG-JXLI
TEXXIVRHIwRMXMSRGSVVIWTSRHMRKXSIEGLJEMPYVIMWRSX
HS[RPSEHIHSVJSYRHXLIWGERRMRKJYRGXMSRGERRSX
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4EXXIVRHIwRMXMSRWZEV]HITIRHMRKSRXLI*31%
XIVQMREPQSHIP8LIVIJSVIQE]HMWGSRXMRYI
HMWXVMFYXMSRSJTEXXIVRHIwRMXMSRWJSVQSHIPWXLVII
]IEVWEJXIVXLIVIPIEWIHEXI
9THEXMRKTEXXIVRHIwRMXMSRW
*MVWXYTHEXIXLITEXXIVRHIwRMXMSRXSXLIPEXIWXSRI
7XERHF]HMWTPE] M7IXXMRKW
0SGO7IGYVMX] 7GERRMRKJYRGXMSR
9THEXI =IW =IW
9THEXMRKWXEVXW%JXIVYTHEXIGSQTPIXIWXLI
RSXMwGEXMSRWGVIIRETTIEVW
-JXLITEXXIVRHIwRMXMSRMWXLIPEXIWXSRIXLI
WGVIIRRSXMJ]MRKXLEXMXMWXLIPEXIWXETTIEVW
C?3/A
(MWTPE]MRKWGERRIHVIWYPX
(MWTPE]MRKWGERRIHTVSFPIQJEGXSVW
7IPIGX(IXEMPSRXLIEPIVXPIZIPWGVIIRXSHMWTPE]XLITVSFPIQJEGXSVPMWXWGVIIRWLS[RSRXLIVMKLX
8LIWGVIIRMQEKIMWERI\EQTPI3RXLIEGXYEPWGVIIRXLIHIXIGXIHHEXEREQIMWHMWTPE]IHMRXLI
TPEGISJ<<<<<<<<
(ITIRHMRKSRXLIX]TISJXLIHIXIGXIHHEXE(IXEMPQE]RSXFIHMWTPE]IH
;LIRWM\SVQSVITVSFPIQJEGXSVWEVIHIXIGXIHWYFWIUYIRXJEGXSVWEJXIVWM\XLSRIEVISQMXXIHERH
SRP]XLIXSXEPRYQFIVSJJEGXSVWMWHMWTPE]IH
(MWTPE]MRKWGERRIHVIWYPX
%PIVXPIZIP %PIVXPIZIP %PIVXPIZIP %PIVXPIZIP %PIVXPIZIP
3/'SRXMRYIXLI
STIVEXMSR
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STIVEXMSRERHI\MX
2S'SRXMRYIXLI
STIVEXMSR
3/7XSTXLI
STIVEXMSRERHI\MX
=IW(IPIXIHEXE
ERHI\MX
2S7XSTXLI
STIVEXMSRERHI\MX
3/(IPIXIHEXE
ERHI\MX
8LIWGVIIRQE]FIHMJJIVIRXJVSQXLIEFSZIHITIRHMRKSRXLIWGERRIHVIWYPX

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