Sanwa Electronic Instrument Co EDFCDRI EDFC Active Driver Unit User Manual INSEC ACT 01 201301

Sanwa Electronic Instrument Co Ltd EDFC Active Driver Unit INSEC ACT 01 201301

USERS MANUAL

+PQTFGTVQKPUVCNNCPFWUGVJG'&(%#%6+8'KPIQQFEQPFKVKQPDGUWTGVQTGCFVJKUOCPWCNKPKVUGPVKTGV[
VQQDVCKPCEQORNGVGWPFGTUVCPFKPIQHVJGEQPUVTWEVKQPUCPFHWPEVKQPU2NGCUGMGGRVJKUOCPWCNHQTHWVWTG
TGHGTGPEGCPFVTCPUHGTKVYJGPVJGRTQFWEVQTVJGXGJKENGKUVTCPUHGTTGFVQCPGYQYPGT
6'+0KU016NKCDNGHQTHCVCNCEEKFGPVUKPLWTKGUOCVGTKCNFCOCIGUGVEECWUGFD[FKUTGICTFKPIVJGEQPVGPVU
KPVJGOCPWCN2NGCUGPQVGVJCV6'+0UJCNNPQVCUUWOG#0;EQUVUHQTTGOQXCNKPUVCNNCVKQPTGNCVKXGNCDQT
VTCPURQTVCVKQPTGRCKTCPFNQUUQHVKOG
$GUWTGVQHQNNQYCNNVJGKPUVTWEVKQPUGURGEKCNN[VJGUVGRUYKVJVJGHQNNQYKPIU[ODQNUCUVJGUGKPXQNXG
UWDUVCPVKCNTKUMU
ҋ/GCPKPIQH/QUV+ORQTVCPV#DDTGXKCVKQPUCPF5[ODQNUKPVJKU/CPWCNҌ
5JQWNFCUVGRYKVJVJKUKPFKECVKQPDGKIPQTGFQTKORTQRGTN[EQORNGVGFVJGTGKUCTKUMQH
ECWUKPIUGTKQWUOCVGTKCNFCOCIGRJ[UKECNKPLWT[CPCEEKFGPVQTGXGPFGCVJ
5JQWNFCUVGRYKVJVJKUKPFKECVKQPDGKIPQTGFQTKORTQRGTN[EQORNGVGFVJGTGKUC
RQUUKDKNKV[QHRJ[UKECNKPLWT[QTOCVGTKCNFCOCIG
ҋ/GCPKPIQH#DDTGXKCVKQPUCPF5[ODQNUKPVJKU/CPWCNҌ
/CVVGTVQDGEQPHKTOGF 4GHGTGPEG  4GEQOOGPFGFVKIJVGPKPIVQTSWG
1RGTCVKQPUHWPEVKQPUGVEQPN[GPCDNGFYJGPQRVKQPCN)25-KVKUKPUVCNNGFWUGF
㪩㪜㪝
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
㪮㪘㪩㪥㪠㪥㪞
㪚㪘㪬㪫㪠㪦㪥
&TKXGTWPKVUJCXGDGGPRCKTGFKFGPVKHKGFYKVJVJGEQPVTQNNGTCVVJGVKOGQHUJKROGPV
6CMGCPQVGQHUGTKCNPWODGTUQHFTKXGTWPKVUCPFJQYVJGWPKVUCTGKPUVCNNGF;QWYKNNPGGFVJGUG
KPHQTOCVKQPHQTUGVWRCPFVTQWDNGUJQQVKPI
5KZFKIKVUHQNNQYKPI&4+QHUGTKCNPQCTG&TKXGT+&%QODKPCVKQPQHPWODGTUCPFNGVVGTU#VQ(
9TKVG(VQT4TFCORGTHQTYJKEJFCORGTGCEJFTKXGTWPKVKUWUGF
%JQT%JKUOCTMGFQPECDNGVCIQHFTKXGTWPKVUEQPPGEVGFVQOQVQTU9TKVGYJKEJOQVQTVJG
EJCPPGNKUEQPPGEVGFVQ
GI(QTFCORGTUYKVJUKOWNVCPGQWUEQORTGUUKQPTGDQWPFCFLWUVOGPVOQVQTHQTUJQEMCDUQTDGT
ψ9TKVGTKIJV4QTNGHV.
GI(QTFCORGTUYKVJUGRCTCVGEQORTGDQWPFCFLWUVOGPVOQVQTUHQTUJQEMCDUQTDGT
ψ9TKVG4%QOR44GDQWPF.%QORQT.4GDQWPF
(QTKPFKXKFWCNEQORTGDQWPFCFLWUVOGPVFTKXGTWPKVECPEQPVTQNOQVQTUEQORTGDQWPFQPUJQEM
CDUQTDGT4GHGTVQRI6CDNG
٨+PUVCNN'&(%#%6+8'RTQRGTN[VQEQORN[YKVJTQCFVTCHHKECEVCPFQVJGTTGNCVGFTGIWNCVKQPU
٨0GXGTQRGTCVGVJGRTQFWEVQTUVCTGCV.%&YJKNGFTKXKPICUKVOC[XKQNCVGVJGNCY6JGTGKUCNUQC
RQUUKDKNKV[QHECWUKPICPWPRTGFKEVGFCEEKFGPVTGUWNVKPIKPCPKPLWT[QTGXGPFGCVJ
٨8GJKENGURGGFUFKURNC[GFKP'%(%#%6+8'CTGHQTTGHGTGPEGQPN[#NYC[UFTKXGKPCEEQTFCPEGYKVJ
XGJKENGUURGGFQOGVGT
٨7UGTVCMGUHWNNTGURQPUKDKNKV[HQTVJGKPUVCNNCVKQP'PUWTGVJCV[QWJCXGECTGHWNN[TGCFCPFHWNN[
WPFGTUVQQFVJKU+PUVTWEVKQP/CPWCNDGHQTGCVVGORVKPIKPUVCNNCVKQP6'+0TGEQOOGPFUVJCVCPKPGZRGTKGPEGF
WUGTUJQWNFQPN[KPUVCNN'&(%#%6+8'WPFGTSWCNKHKGFUWRGTXKUKQP
٨+PUVCNN'&(%#%6+8'CHVGTVJGGPIKPGDTCMGUCPFUWTTQWPFKPIRCTVUEQORNGVGN[EQQNGFFQYP+OOGFKCVGN[
CHVGTFTKXKPIVJGGPIKPGQTVJGUWTTQWPFKPIRCTVUUWEJCURKRKPIDTCMGUGVECTGGZVTGOGN[JQV
CPFVJGTGCTGRQUUKDKNKVKGUQHUGTKQWUKPLWTKGUUWEJCUDWTPU
٨2TKQTVQKPUVCNNCVKQPECTGHWNN[UVWF[YJGTGCPFJQYVQKPUVCNN'&(%#%6+8'VQRTGXGPVKVHTQOEQOKPI
QHHQTKPVGTHGTKPIYKVJPQTOCNFTKXKPIQRGTCVKQPU+ORTQRGTKPUVCNNCVKQPOC[ECWUGFCOCIGUKPVGTHGTGPEG
YKVJFTKXKPIQTCEEKFGPVU
٨9JGPNKHVKPIQTLCEMKPIWRVJGXGJKENGHQTKPUVCNNCVKQPCNYC[UWUGCUVQRRGTQTOQWPVCZNGUVCPFU
LCEMUVCPFUVQUGEWTGVJGXGJKENG
٨2NGCUGGPUWTGVJCVVJGTGCTGPQNQQUGKVGOUKPVJGFTKXGTUEQORCTVOGPV+HCP[KVGOUJQWNFIGVECWIJV
WPFGTVJGDTCMGRGFCNKVOC[FCPIGTQWUN[ECWUGRTGXGPVKQPQHDTCMGQRGTCVKQPYJGPTGSWKTGF
+/2146#06 6JGHQNNQYKPIUUJQWNFCNYC[UDGHQNNQYGF+/2146#06 6JGHQNNQYKPIUUJQWNFCNYC[UDGHQNNQYGF
٨0GXGTKPUGTVCHNCVJGCFUETGYFTKXGTQTQVJGTRTQFWEVUKPVQVJGEQPPGEVQTUVQRTGXGPVFCOCIGUCPFQT
OCNHWPEVKQPU
٨0GXGTFKUCUUGODNGCP['&(%#%6+8'EQORQPGPVU+HFKUCUUGODNGFKVOC[DGFCOCIGFDTQMGPOC[PQVYQTM
RTQRGTN[CPFYKNN016DGEQXGTGFWPFGTYCTTCPV[
٨#U'&(%#%6+8'KURTGEKUGN[OCFGPGXGTFTQRQTECWUGUJQEMDNQYVQKV+HCUVTQPIUJQEMDNQY
KUIKXGPKOOGFKCVGN[UVQRWUKPIKVCPFKPURGEVKV
٨$GHQTGKPUVCNNCVKQPEQPHKTOVJCVVJGTGKUPQGZEGUUKXGQTUJCTROCVGTKCNQPGCEJEQORQPGPV
٨6QKPUVCNN'&(%#%6+8'KVKUPGEGUUCT[VQOQFKH[CPFQTTGOQXGRCTVUQTGNGEVTQPKECRRCTCVWUHTQO
VJGXGJKENG6'+0VCMGUPQTGURQPUKDKNKV[HQTVJGFCOCIGQHUWEJRTQFWEVU
٨'&(%#%6+8'TWPUQPN[QP8RQYGTUWRRN[
QPN[QP8RQYGTUWRRN[CPFECPPQVDGWUGFQPXGJKENGUVJCVWUGFKHHGTGPVXQNVCIGECPPQVDGWUGFQPXGJKENGUVJCVWUGFKHHGTGPVXQNVCIG
UWEJCU8UWEJCU8
٨'&(%#%6+8'KPTCTGECUGUOKIJVKPVGTHGTGYKVJXGJKENGUQVJGTGNGEVTQPKEEQORQPGPVU
٨0GXGTEQPPGEVVJGYKTGEQPXGTUGN[QTOKUVCMGVJGEQPPGEVKQPQHVJGYKTGKPQTFGTVQRTGXGPVUJQTV
EKTEWKVKPI+HKVIGVUUJQTVEKTEWKVQVJGTGNGEVTQPKECRRCTCVWUOC[CNUQDGFCOCIGF
٨$GHQTGYKTKPIDGUWTGVQTGOQXGVJGMG[HTQOVJGKIPKVKQPCPFFKUEQPPGEVVJGPGICVKXGVGTOKPCNHTQO
VJGDCVVGT[KPQTFGTVQRTGXGPVUJQTVEKTEWKVKPIFWTKPIKPUVCNNCVKQP
٨+HVJGECDNGKUFKUEQPPGEVGFHTQOVJGPGICVKXGVGTOKPCNQHVJGDCVVGT[VJGOGOQT[EQPVGPVUQHQVJGT
GNGEVTQPKEFGXKEGUUWEJCUVJGENQEMECTCWFKQGVEOKIJVDGFGNGVGF$GHQTGKPUVCNNCVKQPEQPHKTO
VJGQRGTCVKQPQHGCEJQHVJGUGHWPEVKQPUCPFKHPGEGUUCT[RNGCUGTGUGVCHVGTKPUVCNNCVKQPKUEQORNGVGF
٨&Q016FCOCIGRTGUUQTRWNN'&(%#%6+8'ECDNGVQRTGXGPVFKUEQPPGEVKQPQTGNGEVTKENGCMCIG#XQKF
IKXKPIECDNGCUVTQPIRWNNYJGPEQPPGEVKPICPFQTFKUEQPPGEVKPI
٨9JGPWUKPIFQWDNGUVKEMVCRGRNGCUGWUGCPGWVTCNFGVGTIGPVVQYKRGQHHFWUVCPFQKNHTQOVJGUWTHCEG
RTKQTVQKPUVCNNCVKQP
٨0GXGTKPUVCNNVJGEQPVTQNWPKVVJGFTKXGTWPKVCPFQTVJGRQYGTUWRRN[HKNVGTKPVJGHQNNQYKPICTGCU
VQRTGXGPVFGHQTOCVKQPQHVJGECUGCPFQTOCNHWPEVKQP
࡮*WOKFQTFWUV[CTGC
࡮#P[CTGCYKVJJKIJVGORGTCVWTGFWGVQDGKPIGZRQUGFVQFKTGEVUWPNKIJVQTYCTOCKTHTQOVJGJGCVGT
٨6QCXQKFUVCVKEFCOCIGVQVJGRTQFWEVDGUWTGVQFKUEJCTIGUVCVKEGNGEVTKEKV[VJTQWIJQVJGTOGVCNNKE
RCTVUGVEDGHQTGJCPFNKPIVJGRTQFWEV%NGCPVJGRTQFWEVRGTKQFKECNN[VQRTGXGPVFWUVCEEWOWNCVKQP
٨5WFFGPEJCPIGKPVGORGTCVWTGOKIJVECWUGFGYEQPFGPUCVKQP.GVVJGRTQFWEVFT[QWVEQORNGVGN[DGHQTG
VWTPKPIKVQPCUPQVFQKPIUQOKIJVECWUGKPVGTPCNFCOCIGU
٨+HVJGOQVQTCPFQTFTKXGTWPKVCTGKPUVCNNGFKPCXGJKENGVTWPMOCMGUWTGVJGUGCTGPQVFCOCIGF
D[VJGDCIICIGYJKNGFTKXKPI
٨/QVQTCPFQTFTKXGTWPKVOC[DGEQOGJQVVJTQWIJQRGTCVKQP+HVJGUGCTGKPUVCNNGFPGCTVJGTGCTUGCVU
QPOKPKXCPUGVEYCVEJRCUUGPIGTUGURGEKCNN[DCDKGUCPFUOCNNEJKNFTGPPQVVQVQWEJVJGO#NNQY
VJGOQVQTCPFFTKXGTWPKVVQEQORNGVGN[EQQNQHHDGHQTGJCPFNKPI
٨-GGROCIPGVKEECTFUETGFKVECTFUGVECYC[HTQO'&(%#%6+8'OQVQTCUVJGOQVQTWUGUCUVTQPIOCIPGV
YJKEJOC[FCOCIGVJGECTF
㪮㪘㪩㪥㪠㪥㪞
㪚㪘㪬㪫㪠㪦㪥
+/2146#06 6JGHQNNQYKPIUUJQWNFCNYC[UDGHQNNQYGF
٨0'8'4WUGEQOOWPKECVKQPFGXKEGUCPFQTGNGEVTQPKEUUWEJCUEGNNWNCTRJQPGUCPF2%UPGCTVJG
EQPVTQNNGTWPKVCPFQTVJGFTKXGTWPKV+VOC[ECWUGHCWNV[QRGTCVKQPDGECWUGVJGRTQFWEVGOKVUYGCM
GNGEVTQOCIPGVKEYCXG
٨$GUWTGVQVKIJVGPGCEJRCTVCEEQTFKPIVQVJGURGEKHKGFVQTSWGNKUVGFKPVJKUOCPWCN
٨&KUEQPPGEVVJGOQVQTHTQOVJGKPVGTOGFKCVGECDNGUYJGP[QWCFLWUVVJGTKFGJGKIJVQHVJGXGJKENG
+VECPECWUGVJGECDNGVQDTGCMHTQOVJGOQVQTKHJGKIJVKUCFLWUVGFYJKNGUVKNNEQPPGEVGF
٨0GXGTWUGCPKORCEVYTGPEJHQTKPUVCNNKPIVJGRCTVUQHVJGUJQEMCDUQTDGTVQRTGXGPVVJGKPUKFGPWV
HTQONQQUGPKPI+HVJGPWVEQOGUQHHVJGRKUVQPTQFOC[UJQQVQWVDGECWUGQHVJGJKIJRTGUUWTGQH
VJGKPVGTPCNICUYJKEJKUXGT[FCPIGTQWU
٨&Q016FCOCIGVJGVJTGCFQHVJGUJQEMCDUQTDGTRKUVQPTQFQTQUEKNNCVKQPRCTVUD[FKTGEVN[JCPFNKPI
YKVJCVQQNIKXKPICUJQEMDNQYFTQRRKPIQTJKVVKPI+HVJGRKUVQPTQFKUFCOCIGFVJGQKNUGCN
OC[CNUQDGFCOCIGFCPFKVEQWNFNGCFVQVJGQKNNGCMCIGCPFQTOCNHWPEVKQP
٨&CKN[KPURGEVKQPKUFTKXGTUTGURQPUKDKNKV[#HVGTKPUVCNNKPI'&(%#%6+8'KPURGEVKVRGTKQFKECNN[
VQEQPHKTOKHGXGT[RCTVKUHKTON[EQPPGEVGFCPFENGCPGF+HKVKUPQVWUGFHQTCNQPIRGTKQF
CDQWVQPGOQPVJEQPHKTOKHKVQRGTCVGUPQTOCNN[DGHQTGWUKPIKV
٨9JGPYCUJKPIVJGGPIKPGTQQODC[YKVJUVGCODGUWTGPQVVQIGV'&(%#%6+8'OQVQTCPFQTFTKXGTWPKV
YGV+HYCVGTQTQKNGPVGTUOQVQTCPFQTFTKXGTWPKVKVOC[ECWUGFCOCIGCPFWUGTUJQWNFEGCUGWUG
WPVKNKVKUKPURGEVGF
٨%NGCP'&(%#%6+8'YKVJCFT[ENQVJ+HKVKUFKTV[YKRGYKVJCYGNNYTWPIENQVJ0GXGTWUGDGP\GPG
QTVJKPPGTYJKEJOC[FGVGTKQTCVGVJGRCKPVQPVJGECUG
٨9JGPFKURQUKPIVJGRTQFWEVEQPUWNV[QWTNQECNIQXGTPOGPVQTYCUVGFKURQUGTU
٨&Q016OQFKH['&(%#%6+8'EQORQPGPVUGZEGRVCUKPUVTWEVGFKPVJKUOCPWCNQTD[6'+0CUKVOC[ECWUG
RGTHQTOCPEGFGETGOGPVCPFQTDTGCMCIG
٨0'8'4FTKXGTCFKECNN[TKIJVCHVGTKPUVCNNKPI'&(%#%6+8'
ޣ6JTGCFNQEMGTCPF)TGCUGޤ
٨5JQWNFG[GEQPVCEVQEEWTHNWUJG[GUYKVJRNGPV[QHYCVGT0'8'4YKRGQTTWDG[GU5GGM
OGFKECNCVVGPVKQP
٨-GGRQWVQHTGCEJQHEJKNFTGP
٨#XQKFKPIGUVKQP
٨#XQKFEQPVCEVYKVJUMKPCUKVOC[ECWUGUMKPKTTKVCVKQP
٨+PECUGQHUMKPEQPVCEVYKRGQHHKOOGFKCVGN[CPFYCUJCYC[YKVJUQCRCPFYCVGT
٨0GXGTWUGHQTRWTRQUGUQVJGTVJCPYJCVUOGPVKQPGFKPVJKUOCPWCN
٨0GXGTWUGPGCTQRGPHNCOGUQTQVJGTUQWTEGQHKIPKVKQP
٨-GGRCYC[HTQOFKTGEVUWPNKIJV
٨9JGPVJTGCFNQEMGTQTITGCUGUQCMUKPVQENQVJKPIVJG[ECPPQVDGTGOQXGF
٨'&(%#%6+8'CPFVJKUOCPWCNCTGUWDLGEVVQEJCPIGHQTKORTQXGOGPVYKVJQWVPQVKEG
٨(QTHWTVJGTFGVCKNUCPFCP[SWGUVKQPUEQPVCEV6'+0EWUVQOGTUGTXKEGTGRTGUGPVCVKXG
&GUETKRVKQPQH6JTGCFNQEMGT
0COGQH#TVKENG#PCGTQDKECFJGUKXGCIGPV
#RRNKECVKQP5ETGYUNCEMRTGXGPVKQP
%QORQPGPV5[PVJGVKETGUKP
0GV8QNWOGON
QPN[QP8RQYGTUWRRN[ ECPPQVDGWUGFQPXGJKENGUVJCVWUGFKHHGTGPVXQNVCIG
UWEJCU8
㪚㪘㪬㪫㪠㪦㪥
㪮㪘㪩㪥㪠㪥㪞
㪚㪘㪬㪫㪠㪦㪥
㪮㪘㪩㪥㪠㪥㪞
㪩㪜㪝
ޣ%QPVTQNNGTޤ
(TQPV(CEG
=/1&'?
5JQTV2TGUU
=/1&'?
.QPI2TGUU
=&+52?
5JQTV2TGUU
=&+52?
.QPI2TGUU
=&KCN?
5JQTV2TGUU
=&KCN?
.QPI2TGUU
=&KCN?
6WTP
٨=/1&'?$WVVQP(QTUYKVEJKPIEQPVTQNOQFGUCPFTGVWTPKPIVQVJGRTGXKQWUOGPW
٨=&+52?$WVVQP(QTUYKVEJKPIFKURNC[UCPFHQTEQORNGVKPIVJGUGVVKPIQRGTCVKQP
٨=&KCN?6WTPVQUGNGEVUGVVKPIKVGOUCPFRTGUUVQEQPHKTO
٨1RVKECN5GPUQT(QT#WVQOCVKE&KOOGT(WPEVKQP(QTUGVVKPIUTGHGTVQRI
٨.%&5ETGGP
%QOOQP&KURNC[
࡮.QEM9JGPVJKUU[ODQNKNNWOKPCVGUQRGTCVKQPKUNQEMGF5GGRIVQECPEGN
࡮)25)25KEQPEQOGU10YJGP)25WPKVKUEQPPGEVGFFGVGEVGFCPFDNKPMUKHPQVEQPPGEVGFFGVGEVGF
(QTQVJGTFKURNC[UTGHGTVQGZRNCPCVKQPUQHGCEJOQFGRI㨪
=&KCN?
=&+52?$WVVQP
=/1&'?$WVVQP)25 .QEM+EQP
='ZCORNGUHQT1RGTCVKQPCN(KIWTGUKP6JKU/CPWCN?
ޣ%QPVTQNNGT9KTKPIޤ
٨2%QPPGEVQT(QTEQPPGEVKPIVQQRVKQPCN
)25-KV
٨2%QPPGEVQT(QTEQPPGEVKPIVQVJGRQYGT
UWRRN[HKNVGT
2
2
1RVKECN5GPUQT
)25
.QEM+EQP
&TKXGTWPKVTGEGKXGUUKIPCNU
HTQOVJGEQPVTQNNGTCPFUGPFU
EQOOCPFUVQGCEJOQVQT
٨2%QPPGEVQTZ
(QTEQPPGEVKPIVQVJGTKIJVCPF
NGHV'&(%#%6+8'OQVQTU
٨2%QPPGEVQT
(QTEQPPGEVKPIVQVJGRQYGT
ECDNGKPENWFGFKPVJGMKV
ޣ&TKXGT7PKVޤ
&Q016RWVFQWDNGUVKEMVCRGQPVJGQWVGTOGVCNUWTHCEGޓޓ6JGVCRGOC[EQOGQHHDGECWUGQH
JKIJVGORGTCVWTG
6JGUOCNNJQNGQPVJGUWTHCEGYKVJ6'+0NQIQKUVQTGNGCUGRTGUUWTG&Q016EQXGTVJG
JQNGYJGPKPUVCNNKPI
6CMGCPQVGQHFTKXGT+&UKPRI;QWYKNNPGGFVJGUGHQTUGVWR
%JQT%JKUYTKVVGPQPGCEJOQVQTECDNG%QPPGEVECDNGUHQNNQYKPIFKTGEVKQPUKPRI
CPFVCMGCPQVGKPRI
2
2
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪩㪜㪝
㪩㪜㪝
㪩㪜㪝
٨%QPPGEVQT̖(QTEQPPGEVKPIVQVJG
EQPVTQNNGT
٨9KTG
TGF
̖(QTEQPPGEVKPIVQVJG
CEEGUUQT[RQYGTUWRRN[
٨
9KTG
DNCEM
̖(QTITQWPFKPI
ޣ2QYGT5WRRN[(KNVGTޤ
4GF
$NCEM
#HVGTVWTPKPIQPVJGRQYGTYCKVWPVKN)25WPKVTGEGKXGUXCNKFUKIPCNU
VQOQXGVJGXGJKENG)25NCORYKNNEJCPIGHTQODNKPMKPIVQ10
#HHKZCUGTKCNPWODGTNCDGNKPEWNFGFKPVJGMKVVQ)25
UGEVKQPQHVJGEJCTVQPVJGEQXGTQHVJKUOCPWCN
&GRGPFKPIQPNQECVKQPUEKTEWOUVCPEGU)25UKIPCNUOC[DG
YGCMQTWPCXCKNCDNG
)25WPKVFGVGTOKPGUKVURQUKVKQPCPFECNEWNCVGUXGJKENGURGGFDCUGF
QPVJGKPHQTOCVKQPTGEGKXGFHTQOVJGUCVGNNKVGU
٨%QPPGEVQT(QTEQPPGEVKPIVQEQPVTQNNGT
)25WPKVPGGFUVQTGEQIPK\GCVNGCUVHQWTXCNKFUKIPCNU
HTQOVJGUCVGNNKVGUVQUVCTVYQTMKPICPFVJKUWUWCNN[
VCMGUUGEQPFUVQOKPWVGCHVGTVJGRQYGTKUVWTPGFQP
+HVJGXGJKENGOQXGUDGHQTGTGEGKXKPIGPQWIJUCVGNNKVG
UKIPCNUKVOC[VCMGNQPIGTVQTGEQIPK\G
ޣ)25-KVޤ1RVKQPCN
2TGUUWTG4GNGCUG*QNG
%QPPGEVQT
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
$GNQYGZRNCKPUVJGKPUVCNNCVKQPQHOQVQTEQPVTQNNGTCPFYKTKPI
ޓ/QVQT
+PUVCNNVJGOQVQTCHVGTCUUGODNKPIVJGUJQEMCDUQTDGTURTKPICPFWRRGTOQWPV6JGPUETGYVJGVQRPWVHKTON[VQ
VJGFGUKIPCVGFVQTSWGDGECWUGKVKUFKHHKEWNVVQVKIJVGPKVCHVGTKPUVCNNKPIVJGOQVQT+HKVKUFKHHKEWNVVQ
KPUVCNNVJGOQVQTVQVJGXGJKENGQPYJKEJVJGUJQEMCDUQTDGTUCTGCNTGCF[KPUVCNNGFYGTGEQOOGPFKPUVCNNKPI
VJGOQVQTCHVGTFGVCEJKPIVJGUJQEMCDUQTDGT+PVJKUECUGDGECTGHWNPQVVQIKXGCUJQEMDNQYVQVJGOQVQT
㧕4GOQXGVJGUKNXGTENKEMCPFGZEJCPIGJGZDQNV
࡮4GOQXGVJGENKEMD[VWTPKPIEQWPVGTENQEMYKUGYKVJ
VJGDNCEMOOURCPPGTYTGPEJKPENWFGFKPVJGOQVQT
MKV(KIWTG
࡮4GOQXGVJGDNCEMJGZDQNVKPUKFGYKVJVJGOOJGZ
YTGPEJ
࡮#RRN[VJGITGCUGTGFKPENWFGFKPVJGOQVQTMKV
VQVJGKPPGTVJTGCFCPFIQNFJGZDQNVUVJTGCFGF
RCTVCPFKPUKFGQHVJGJGZJQNG6JGPRWVVJG
IQNFJGZDQNVWPVKNKVUVQRDGEQOGUHNWUJYKVJVJG
VQRUWTHCEGQHVJGUJCHV(KIWTG
;QWECPWUGIGPGTCN/QN[DFGPWOITGCUG
KPUVGCF
-GGRVJGTGOQXGFENKEMHQTTGKPUVCNNCVKQP
&Q016VWTPVJGUJQEMCDUQTDGTWRUKFGFQYP
YJKNGKVUJGZDQNVKUTGOQXGF+PPGTRCTVU
OC[EQOGQHH
4GOQXGCPVKNQQUGPKPICIGPVTGUKFWGQP
VJTGCFGFRCTVQHRKUVQPUJCHVCUUWEJ
TGUKFWGOC[ECWUGOQVQTVQOCNHWPEVKQP
6JGENKEMKUNQECVGFCVVJGVQRQHVJGRKUVQPTQF
WRTKIJVV[RGUJQEMCDUQTDGT(KIWTGQTCVVJG
DQVVQOQHVJGUJGNNECUGKPXGTVGFV[RGUJQEM
CDUQTDGT(KIWTG
0'8'4TGOQXGDQNVUCVVJGVQRQHVJGRKUVQP
TQF(KIWTGCPFQTCVVJGDQVVQOQHVJG
UJGNNECUG(KIWTGKHCP[4GOQXKPIUWEJ
DQNVOKIJVECWUGGPENQUGFICUVQNGCMCPFQT
KPPGTRCTVUVQRQRQWV
㧕%JGEMVJTGCFUK\GQPRKUVQPUJCHVCPFOCVEJVQOQVQT
YKVJVJGUCOGUK\GVJTGCF5QOGOQVQTMKVUJCXG
FKHHGTGPVUK\GOQVQTUHQTHTQPVCPFTGCT
6JGUK\GQHVJGOQVQTECPDGFKUVKPIWKUJGF
D[VJGFKUVKPEVKQPITQQXGQWVUKFGVJGUJCHV
CVVCEJOGPVRCTV/YKVJQWVITQQXG/
1PGITQQXG/6YQITQQXGU
5JCMGVJGVJTGCFNQEMGTDQVVNGITGGPNKSWKF
KPENWFGFKPVJGOQVQTMKVYGNNCDQWVVGPVKOGU
DGHQTGGCEJWUGCUKVUKPITGFKGPVUOKIJVDG
UGRCTCVG
#RRN[VJGCRRTQRTKCVGCOQWPVQHVJTGCFNQEMGTVQVJG
OCNGVJTGCFQPVJGRKUVQPUJCHV(KIWTG
0'8'4CRRN[VJGVJTGCFNQEMGTVQVJGHGOCNG
VJTGCFQHVJGJGZCIQPUQEMGVUGVUETGYCUKV
YKNNRTGXGPVVJGUETGYHTQOVWTPKPI
(KIWTG
7PUETGY
)TGCUG
(KIWTG
(KIWTG
(KIWTG
(KIWTG (KIWTG
(KIWTG
(KIWTG
6JTGCFNQEMGT
*GZUETGYKUCV
UCOGJGKIJVCU
RKUVQPUJCHV
0'8'4TGOQXGVJGDQNV 0'8'4TGOQXGVJGDQNV
%NKEM
6JTGCFNQEMGT
)TGCUG
-; -;
%NKEM
+PUGTVVQRDRNV
5JGNNECUG
DQVVQODQNV
㪩㪜㪝
㪩㪜㪝
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
ITQQXG
GIQPGITQQXG/
(KVVJGJGZCIQPVKRQHVJGOQVQTQHVJG'&(%#%6+8'KPVQ
VJGJGZUETGYKPENWFGFKPVJGOQVQTMKV(KIWTG
5ETGYVJGOQPN[D[JCPFFWTKPIKPUVCNNCVKQP
CUVJGOQVQTCPFQVJGTRCTVUCTGRTGEKUGN[OCFG
$GUWTGPQVVQKORQUGUVTGUUVQVJGO
㧕*QNFVJGOQVQTD[JCPFCPFWUGCHNCVJGCFUETGYFTKXGT
VQVWTPVJGUNQVVGFUETGYNQECVGFQPVJGVQREGPVGT
UGEVKQPQHVJGOQVQTHWNNTGXQNWVKQPUKPVJGENQEMYKUG
FKTGEVKQP(KIWTG
㧕)GPVN[UETGYVJGOQVQTKPVJGENQEMYKUGFKTGEVKQPQPVQ
VJGRKUVQPUJCHVWPVKNKVUVQRU(KIWTG
㧕7UGCHNCVJGCFUETGYFTKXGTVQUETGYVJGUNQVHWNN
TGXQNWVKQPUKPVJGENQEMYKUGFKTGEVKQP
㧕0QYHWNN[UETGYVJGOQVQTYKVJVJGFGUKIPCVGFVQTSWG
0㨯Oޓ㧔MIH㨯OQTVJGUCOGCUVJGVQTSWGHQT/UETGY㧕
$GECTGHWNPQVVQKORQUGUVTGUUVQVJGDNCEMEQNQTGF
RCTVEQTGRCTVQPVJGUKFGQHVJGOQVQTYKVJ
VQQNUGVE+HUVTGUUKUKORQUGFVJGOQVQTOC[DG
DTQMGP#NUQ0'8'4UETGYVJGOQVQTYKVJVJGVQTSWG
QHQXGT0OQTVWTPKVHWTVJGTVJCPFGITGGU
HTQOVJGJCPFVKIJVGPGFRQUKVKQP1VJGTYKUGVJGOQVQT
OC[DGFCOCIGF
㧕
%QPHKTOVJCVVJGOQVQTUJCHVVWTPUD[WUKPIVJGHNCVJGCF
UETGYFTKXGTVQVWTPVJGUNQVEQWPVGTENQEMYKUGTGXQNWVKQP
CPFVJGPDCEMENQEMYKUGTGXQNWVKQP(KIWTG
%QPHKTOKHVJGOQVQTUJCHVTQVCVGUUOQQVJN[
CHVGTVJGOQVQTKUUETGYGFQP+HPQVUQOG
RCTVUOC[DGDTQMGPQTKPEQTTGEVN[KPUVCNNGF
+PVJKUECUGTGOQXGVJGOQVQTCPFEJGEM
VJCVPQRCTVUCTGDTQMGP
㧕#VVCEJTWDDGTEQXGTQPOQVQT(KIWTG
*CPFNGTWDDGTEQXGTYKVJGZVTCECTG2WNNKPI
D[ITGCVHQTEGOC[ECWUGFCOCIG
#XQKFNGCXKPICP[ICRDGVYGGPTWDDGTEQXGTCPF
OQVQT/CMGUWTGVJCVECDNGRTQVGEVKQPVWDGKU
EQXGTGFD[TWDDGTEQXGT$GUWTGVQCVVCEJ
TWDDGTEQXGTRTQRGTN[(CKNWTGVQFQUQOKIJV
ECWUGFWUVQTYCVGTVQGPVGTCPFCUCTGUWNV
FCOCIGQTUJQTVGPVJGNKHGQHOQVQT
#RRN[CUOCNNCOQWPVQHTWUVRTQQHQTITGCUG
VQTWDDGTEQXGTQRGPKPIHQTGCUKGT
KPUVCNNCVKQP
㧕2NCEGECDNGVKGQXGTVJGRTQVGEVKQPVWDGPGCTEQPPGEVQT
CPFVJGPHCUVGP(KIWTG
$GUWTGVQHCUVGPVWDGYKVJECDNGVKG(CKNWTG
VQFQUQOKIJVECWUGFWUVQTYCVGTVQGPVGTCPF
CUCTGUWNVFCOCIGQTUJQTVGPVJGNKHGQHOQVQT
㧕#RRN[UGCNCPVVQVJGUJCFGFCTGCKP(KIWTG6JGOQVQT
OKIJVIGVYGVFGRGPFKPIQPYJGTGKVUKPUVCNNGF
1RGPKPIQHECDNGRTQVGEVKQPVWDGPGGFUVQDGUGCNGF
WRYKVJUKNKEQPUGCNCPVCUYGNN(KIWTG
٨(QTKPUVCNNCVKQPQPKPXGTVGFV[RGFCORGT
ޓ࡮9JGPKPUVCNNKPIOQVQTQPVQKPXGTVGFV[RGFCORGT
CRRN[UGCNCPVVQVJGUJCFGFCTGKP(KIWTGCVVCEJ
OQVQTVQFCORGTCPFVJGPRWVTWDDGTEQXGTQP
+HTWDDGTEQXGTKUWPGXGPQTKVUQRGPKPIGPF
KUTQNNGFWRHKZD[RWNNKPICPFTGNGCUKPI
EQTPGTUUGXGTCNVKOGU(KIWTG
-;
-;
-;
(KIWTG
(KIWTG
(KIWTG
(KIWTG (KIWTG
(KIWTG
(KIWTG
(KIWTG (KIWTG
(KIWTG
(KIWTG
(KVVJG
JGZCIQP
OQVQTVKRKPVQ
VJGJGZUETGY
7UGHNCVJGCF
UETGYFTKXGT
VQVWTPHWNN
TGXQNWVKQPU
TQVCVKQPU
)'06.;UETGYVJGOQVQTQP
WPVKNKVUVQRU
%QPHKTOVJGOQVQT
UJCHVTQVCVKQP
/CMGUWTGVJCVECDNG
RTQVGEVKQPVWDGKUEQXGTGF
D[TWDDGTEQXGT
2NGCUGECDNGVKGQXGTRTQVGEVKQP
VWDGPGCTEQPPGEVQTCPFVJGPHCUVGP
#RRN[UGCNCPV
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪩㪜㪝
㪩㪜㪝
%QPVTQNNGT %QPVTQNNGTWPKVECPDGKPUVCNNGFWUKPICJQQMCPFNQQRHCUVGPGTQTC
FQWDNG
UVKEMVCRGFGRGPFKPIQPVJGNQECVKQPCPFQTVJGRTGHGTGPEG(KZ
KVUGEWTGN[
UQVJCVVJGEQPVTQNNGTFQGUPQVXKDTCVGFWTKPIFTKXKPI
$GHQTGKPUVCNNCVKQPECTGHWNN[GZCOKPGYJGTGCPFJQYVQKPUVCNN
KVCUKVUJQWNFPGXGTHCNNQHHQTKPVGTHGTGYKVJFTKXKPI
+PEQTTGEVKPUVCNNCVKQPCPFQTKPCFGSWCVGRQUKVKQPKPIKUFCPIGTQWU
CUKVOKIJVECWUGXGJKENGFCOCIGCPFKPVGTHGTGYKVJFTKXKPI
0'8'4KPUVCNNVJGEQPVTQNNGTWPKVKPVJGHQNNQYKPICTGCUVQCXQKF
OCNHWPEVKQPU
࡮*WOKFQTFWUV[
࡮#P[CTGCYJKEJDGEQOGUJKIJVGORGTCVWTGKGRNCEGUGZRQUGF
VQFKTGEVUWPNKIJVPGCTJGCVGTQWVNGVU
+HPQVUGEWTGN[KPUVCNNGFVJGEQPVTQNNGTOKIJVPQVDGCDNGVQFGVGEV)HQTEGUVCDN[6JKUOC[
UJQTVGPVJGNKHGQHVJGCRRCTCVWUCPFQTUWURGPUKQP
0'8'4KPUVCNNVJGEQPVTQNNGTWPKVPGCTEQOOWPKECVKQPFGXKEGUUWEJCUEGNNWNCTRJQPGU$NWGVQQVJ
CPFYKTGNGUU.#0+VOC[ECWUGOKUUQRGTCVKQP
9JGPWUKPIFQWDNGUVKEMVCRGRNGCUGWUGCPGWVTCNFGVGTIGPVVQYKRGQHHFWUVCPFQKNHTQOVJG
UWTHCEGRTKQTVQKPUVCNNCVKQP
)HQTEGOKIJVPQVDGFGVGEVGFRTQRGTN[KHVJGEQPVTQNNGTWPKVKUKPUVCNNGFCVCITGCVGTCPING
#FLWUVVJGEQPVTQNNGTWPKVUQVJGUETGGPKUHCEKPIYKVJKPFGITGGUVQVJGQRRQUKVGFKTGEVKQP
QHVTCXGNDQVJJQTK\QPVCNN[CPFXGTVKECNN[
㪮㪘㪩㪥㪠㪥㪞
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪩㪜㪝
&TKXGT7PKV
&Q016EQXGTVJGFTKXGTWPKVYKVJOGVCN
6CMGCPQVGQHFTKXGT+&KPRI
9JGPWUKPIFQWDNGUVKEMVCRGRNGCUGWUGCPGWVTCNFGVGTIGPVVQYKRGQHHFWUVCPFQKNHTQO
VJGUWTHCEGRTKQTVQKPUVCNNCVKQP
#PEJQTVJGFTKXGTWPKVWUKPICECDNGVKGQTFQWDNGUVKEMVCRGU
#NNQYVJGFTKXGTWPKVVQEQORNGVGN[EQQNQHHDGHQTGJCPFNKPI+VOC[
DGEQOGJQVYJKNGQRGTCVKPI
&Q016KPUVCNNVJGFTKXGTWPKVKPVJGHQNNQYKPICTGCUVQCXQKF
OCNHWPEVKQPU
࡮*WOKFQTFWUV[CTGC
࡮#P[CTGCYJKEJDGEQOGUJKIJVGORGTCVWTGKGRNCEGUGZRQUGFVQ
FKTGEVUWPNKIJVPGCTJGCVGTQWVNGVU
&Q016RNCEGCP[QDLGEVUCTQWPFVJGFTKXGTWPKV
&Q016RWVFQWDNGUVKEMVCRGQPVJGOGVCNUWTHCEGQHVJGECUG
)25-KV1RVKQPCN
#VVCEJVJG)25WPKVQPVJGFCUJDQCTFRCPGNDGNQYVJGHTQPVYKPFUJKGNF
/CMGUWTGVJGECDNGKUNQPIGPQWIJHQTVJGKPUVCNNCVKQPNQECVKQP
&Q016KPUVCNN)25WPKVKPVJGHQNNQYKPICTGCUVQCXQKFOCNHWPEVKQPU
࡮*WOKFQTFWUV[CTGC
࡮#P[CTGCYJKEJDGEQOGUJKIJVGORGTCVWTGKGPGCTJGCVGTQWVNGVU
)25WPKVKU016YCVGTRTQQH+PUVCNNVJGWPKVKPVJGCTGCYJKEJFQGUPQV
IGVYGV
9JGPWUKPIFQWDNGUVKEMVCRGRNGCUGWUGCPGWVTCNFGVGTIGPVVQYKRGQHH
FWUVCPFQKNHTQOVJGUWTHCEGRTKQTVQKPUVCNNCVKQP
&GRGPFKPIQPNQECVKQPUEKTEWOUVCPEGU)25UKIPCNUOC[DGYGCMQTWPCXCKNCDNG
㪩㪜㪝
㪩㪜㪝
㪩㪜㪝
㪩㪜㪝
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
2QYGT5WRRN[(KNVGT +PUVCNNVJGRQYGTUWRRN[HKNVGTUGEWTGN[WUKPIFQWDNGUVKEMVCRGUGVE
&Q016KPUVCNNVJGRQYGTUWRRN[HKNVGTKPVJGHQNNQYKPICTGCUVQ
CXQKFOCNHWPEVKQPU
࡮*WOKFQTFWUV[CTGC
࡮#P[CTGCYJKEJDGEQOGUJKIJVGORGTCVWTGKGRNCEGUGZRQUGFVQ
FKTGEVUWPNKIJVPGCTJGCVGTQWVNGVU
9JGPWUKPIFQWDNGUVKEMVCRGRNGCUGWUGCPGWVTCNFGVGTIGPVVQ
YKRGQHHFWUVCPFQKNHTQOVJGUWTHCEGRTKQTVQKPUVCNNCVKQP
㪩㪜㪝
9KTKPI
㧕2QYGT5WRRN[(KNVGT
%QPPGEVVQ2EQPPGEVQTQPEQPVTQNNGTWPKV
٨
#EEGUUQT[RQYGTUWRRN[4GFECDNG%QPPGEVWUKPIVJGDTCPEJEQPPGEVQTHTQOCEEGUUQT[RQYGTUWRRN[QH
UWHHKEKGPVECRCEKV[UWEJCUC
EKICTGVVG
NKIJVGT
٨
)TQWPFECDNG$NCEMECDNG(KTON[EQPPGEVVQCDCTGOGVCNRCTVQHVJGXGJKENGCXQKFEQPPGEVKPIVQCRCKPVFCTGC
㧕(TQPV4GCT&TKXGT7PKVU
#DQXGFKCITCOUCTGHQTTGHGTGPEGQPN[#UVJGOQVQTRQUKVKQPUXCT[D[XGJKENGUVTWEVWTGRNCEGCTTCPIG
VJGFTKXGTWPKVUCPFECDNGUVQVJGOQUVCRRTQRTKCVGRQUKVKQPUHQTGCEJXGJKENGOQFGN
6JGMKVKPENWFGUNQPICPFUJQTVECDNGU7UGVJGOFGRGPFKPIQPEQPPGEVKPIRNCEGU6JGUJQTVQPGKU
FGUKIPGFUWKVCDNGHQTVJGHTQPV
٨
8RQYGTUWRRN[YKTG4GFECDNG6JGYKTGUECPDGEQPPGEVGFGKVJGTFKTGEVN[VQVJGDCVVGT[EQPUVCPVRQYGTUWRRN[
QTYKVJCEEGUUQT[RQYGTUWRRN[EQOGUQPYJGPVJGMG[KUKPCEEGUUQT[RQUKVKQP6CMGRQYGTHTQOGKVJGTUWRRN[
UWKVCDNGHQTWPKVURQUKVKQP5VCPFD[EWTTGPVKHEQPPGEVGFVQEQPUVCPVRQYGTUWRRN[O#RGTFTKXGTWPKV
٨
)TQWPFECDNG$NCEMECDNG(KTON[EQPPGEVVQCDCTGOGVCNRCTVQHVJGXGJKENGCXQKFEQPPGEVKPIVQCRCKPVFCTGC
9JGPEQPPGEVKPIVQCEEGUUQT[RQYGTUWRRN[EJQQUGVJGQPGYKVJGPQWIJEWTTGPVECRCEKV[
+HVJGECRCEKV[KUPQVGPQWIJKVYKNNPQVRQYGTVJGOQVQT6JKUYKNNPQVQPN[FKOKPKUJVJG
RTQFWEVUGHHGEVUDWVCNUQOKIJVECWUGPGICVKXGGHHGEVQPXGJKENGUQVJGTGNGEVTQPKEEQORQPGPVU
6CMGCPQVGQHHTQPVTGCTFTKXGT+&UQPRI
#UVJGEQPVTQNNGTCPFVJGFTKXGTUJCXGDGGPRCKTGFRTKQTVQUJKROGPVOCVEJVJG+&UKPVJG
UGVVKPIYKVJVJGCEVWCN+&U
%QPPGEVKQPVQVJGCEEGUUQT[RQYGTUWRRN[KUTGEQOOGPFGF
%QPPGEVKPI/QVQTU
٨(KTON[EQPPGEVVJGOQVQTCPFVJGFTKXGTWPKV
٨(KZVJGEQPPGEVQTYKVJECDNGVKGCHVGTCNNQYKPIUWHHKEKGPVUNCEMQPVJGOQVQTUKFG
٨&TKXGTWPKVECPDGEQPPGEVGFFKTGEVN[VQOQVQTUYKVJQWVWUKPIOQVQTECDNGU
2NGCUGCNNQYGPQWIJECDNGUNCEMHQTVJGOQVQTVQVWTPYKVJVJGTQVCVKPIOQVKQPQHVJGFCORGT
5WHHKEKGPVUNCEMKUGURGEKCNN[KORQTVCPVHQT(VUVTWVV[RGXGJKENGUKPQTFGTVQRTGXGPVVJGECDNG
HTQODTCMKPIFWTKPIUVGGTKPICPFRQUUKDN[ECWUKPIUJQTVEKTEWKVU%JGEMYKTKPITGIWNCTN[CPF
TGYKTGKHECDNGUCTGVYKUVGFCPFQTVCPINGFVQVJGOQVQT&KUEQPPGEVVJGOQVQTYJGP[QWCFLWUV
VJGTKFGJGKIJVQHVJGXGJKENG+HPQVKVECPECWUGVJGECDNGVQDTGCMQTUJQTVEKTEWKV
&Q016CNNQYCURTKPIVQJCXGRNC[+VOC[ECWUGRKUVQPTQFVQTQVCVGCPFVJGECDNGVQVCPINGFWR
'CEJOQVQTJCU%JCPF%J$GUWTGVQTGEQTFYJKEJOQVQT(VQT4TGCEJEJCPPGNKUEQPPGEVGFVQRI
%QPPGEV%JVQTGDQWPFCPF%JVQEQORYJGPFTKXGTEQPVTQNUUGRCTCVGN[CFLWUVCDNG
UJQEMCDUQTDGT4GHGTVQRI6CDNG4GEQTFGXGT[EQPPGEVKQPKPRIVQKFGPVKH[
GCEJFTKXGTCUUWEJKPHQTOCVKQPKUTGSWKTGFHQTVTQWDNGUJQQVKPI
6JGYKTKPIFKCITCOUCTGUJQYPDGNQY+PQTFGTVQRTGXGPVWPGZRGEVGFUJQTVEKTEWKVCNYC[UFKUEQPPGEVVJG
PGICVKXGDCVVGT[VGTOKPCNDGHQTGEQOOGPEKPICP[YKTKPIYQTM4GOGODGTVQTGEQPPGEVCHVGTEQORNGVKQP
%QPPGEVGCEJWPKVVQRQYGTUQWTEGUUWEJCUCEKICTGVVGNKIJVGTYJKEJFQGUPQVKPHNWGPEGQPFTKXKPI
KPECUGQHWPKVUVTQWDNG
2QYGTUWRRN[HKNVGTHQTEQPVTQNNGTCPF)25WPKVUUJQWNFDGEQPPGEVGFVQCEEGUUQT[RQYGTUWRRN[
+HKVWUGUVJGEQPUVCPVRQYGTUWRRN[VJGDCVVGT[YKNNDGFGCFKPCUJQTVRGTKQF
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
㪚㪘㪬㪫㪠㪦㪥
'PIKP4QQO$C[
.WIICIG6TWPM4QQO
/QVQT
%CDNG
#%%TGF
/#:#
)TQWPF
DNCEM 2
/QVQT
(4
/QVQT
(.
/QVQT
%CDNG
2
#%%TGF
/#:#
)TQWPF
DNCEM
/QVQT
(4
/QVQT
(.
%CDKP
2
2
#%%TGF
/#:#
)TQWPF
DNCEM
)HQTEGOKIJVPQVDGFGVGEVGFRTQRGTN[KHVJGEQPVTQNNGTWPKV
KUKPUVCNNGFCVCITGCVGTCPING#FLWUVVJGEQPVTQNNGTWPKV
UQVJGUETGGPKUHCEKPIYKVJKPFGITGGUVQVJGQRRQUKVG
FKTGEVKQPQHVTCXGNDQVJJQTK\QPVCNN[CPFXGTVKECNN[
㪩㪜㪝
٨6QEWUVQOGTUYJQRWTEJCUGFUVTWVMKV'&--
7UCIG%QPFKVKQPU
ޣ%QORQPGPVUޤ
2CTV5VQRRGT
2CTV5VQRRGT
2CTV%QNNCT
2CTV$QNVUJQTV
+HVJGJGKIJVQHVJGRKNNQYDCNN
ECUGRKEVWTGVQVJGTKIJVYKVJ
UVCTOCTMKUNGUUVJCPOO ڎ72
(KIWTG
2CTV$QNV%QNNCT
2CTV5VQRRGT
2CTV$QNVUJQTV
2CTV%QNNCT
2CTV5VQRRGT
2KNNQY$CNN%CUG
2KNNQY$CNN7RRGT/QWPV
7RRGT525GCV
2KUVQP4QF
䬈䎬䏑䏖䏗䏄䏏䏏䏄䏗䏌䏒䏑䎃䎳䏕䏒䏆䏈䏇䏘䏕䏈䬉䎃
䎔䎌䎃䎬䏑䏖䏗䏄䏏䏏䎃䎊䎳䏄䏕䏗䎃䎆䎔䎃䎋䎶䏗䏒䏓䏓䏈䏕䎃䎆䎔䎌䎊䎃䏘䏖䏌䏑䏊䎃䏅䏒䏏䏗䏖䎃
䏌䏑䏆䏏䏘䏇䏈䏇䎃䏌䏑䎃䏗䏋䏈䎃䏎䏌䏗䎑
䎃䎃䎃䎍䎷䏋䏈䏕䏈䎃䏄䏕䏈䎃䏗䏚䏒䎃䏕䏒䏚䏖䎃䏒䏉䎃䏉䏒䏘䏕䎃䏖䏆䏕䏈䏚䎃䏋䏒䏏䏈䏖䎃䏒䏑䎃
䏗䏋䏈䎃䏕䏈䏙䏈䏕䏖䏈䎃䏖䏌䏇䏈䎃䏒䏉䎃䎳䏌䏏䏏䏒䏚䎃䎥䏄䏏䏏䎃䎸䏓䏓䏈䏕䎃䎰䏒䏘䏑䏗䎑䫹
䎸䏖䏈䎃䏗䏚䏒䎃䏋䏒䏏䏈䏖䎃䏄䏗䎃䏗䏋䏈䎃䏈䏑䏇䎃䏒䏉䎃䏈䏄䏆䏋䎃䏕䏒䏚䎑
䎃䎃䎃䎍䎬䏉䎃䏗䏋䏈䎃䏄䏅䏒䏙䏈䎃䏌䏖䎃䏑䏒䏗䎃䏄䏙䏄䏌䏏䏄䏅䏏䏈䎏䎃䏐䏒䏙䏈䎃䏗䏋䏈䎃䏆䏄䏐䏅䏈䏕䎃
䏄䏇䏍䏘䏖䏗䏌䏑䏊䎃䏅䏒䏏䏗䏖䎃䏗䏒䎃䏗䏋䏈䎃䏒䏑䏈䏖䎃䏌䏑䏖䏌䏇䏈䎑
䎕䎌䎰䏒䏘䏑䏗䎃䎊䎳䏄䏕䏗䎃䎆䎕䎃䎋䎶䏗䏒䏓䏓䏈䏕䎃䎆䎕䎌䎊䎃䏗䏒䎃䎸䏓䏓䏈䏕䎃
䎶䏓䏕䏌䏑䏊䎃䎶䏈䏄䏗䎑
䎃䎃䎃䎍䎩䏌䏗䎃䏓䏕䏒䏗䏕䏘䏇䏌䏑䏊䎃䏓䏄䏕䏗䎃䎊䎤䎊䎃䏗䏒䎃䏒䏑䏈䎃䏒䏉䎃䏗䏋䏈䎃䏙䏈䏕䏗䏌䏆䏄䏏䎃
䏖䏏䏒䏗䏖䎃䏒䏑䎃䏗䏋䏈䎃䏖䏌䏇䏈䎃䏒䏉䎃䎸䏓䏓䏈䏕䎃䎶䏓䏕䏌䏑䏊䎃䎶䏈䏄䏗䎑
䎃䎃䎃䎍䎬䏑䏖䏈䏕䏗䎃䏘䏓䏓䏈䏕䎃䏓䏕䏒䏗䏕䏘䏇䏌䏑䏊䎃䏓䏄䏕䏗䎃䏒䏉䎃䎸䏓䏓䏈䏕䎃䎶䏓䏕䏌䏑䏊䎃
䎶䏈䏄䏗䎃䏗䏋䏕䏒䏘䏊䏋䎃䏗䏋䏈䎃䏋䏒䏏䏈䎃䏌䏑䎃䏗䏋䏈䎃䏖䏗䏒䏓䏓䏈䏕䎑
䎖䎌䎰䏒䏘䏑䏗䎃䎸䏓䏓䏈䏕䎃䎶䏓䏕䏌䏑䏊䎃䎶䏈䏄䏗䎏䎃䏄䏖䏖䏈䏐䏅䏏䏈䏇䎃䏌䏑䎃
䏖䏗䏈䏓䎃䎕䎌䎃䏄䏅䏒䏙䏈䎏䎃䏗䏒䎃䎳䏌䏖䏗䏒䏑䎃䎵䏒䏇䎑
䎃䎃䎃䎍䎤䏏䏌䏊䏋䎃䏗䏋䏈䎃䏖䏏䏒䏗䎃䏒䏑䎃䎳䏌䏖䏗䏒䏑䎃䎵䏒䏇䎃䏚䏌䏗䏋䎃䏗䏋䏈䎃䏒䏑䏈䎃䏒䏑䎃
䎸䏓䏓䏈䏕䎃䎶䏓䏕䏌䏑䏊䎃䎶䏈䏄䏗䎑
䎗䎌䎬䏑䏖䏈䏕䏗䎃䎊䎳䏄䏕䏗䎃䎆䎖䎃䎋䎦䏒䏏䏏䏄䏕䎌䎊䎑
䎃䎃䎃䎍䎳䏏䏄䏆䏈䎃䏗䏋䏈䎃䏖䏌䏇䏈䎃䏚䏌䏗䏋䎃䏖䏐䏄䏏䏏䏈䏕䎃䏒䏘䏗䏈䏕䎃䏇䏌䏄䏐䏈䏗䏈䏕䎃䏗䏒䏓䎑
䎘䎌䎰䏒䏘䏑䏗䎃䎳䏌䏏䏏䏒䏚䎃䎥䏄䏏䏏䎃䎸䏓䏓䏈䏕䎃䎰䏒䏘䏑䏗䎑
䎃䎃䎃䎍䎩䏌䏗䎃䏗䏋䏈䎃䏓䏕䏒䏗䏕䏘䏇䏌䏑䏊䎃䏓䏄䏕䏗䎃䎊䎥䎊䎃䏒䏉䎃䎊䎳䏄䏕䏗䎃䎆䎕䎃䎋䎶䏗䏒䏓䏓䏈䏕䎃
䎆䎕䎌䎊䎃䏌䏑䎃䏅䏈䏗䏚䏈䏈䏑䎃䏓䏄䏕䏗䏖䎃䎊䎦䎊䎃䎋䏑䏒䏗䎃䏉䏄䏆䏌䏑䏊䎃䏗䏋䏈䎃䏅䏒䏏䏗䏖䎌䎃
䏒䏉䎃䎊䎳䏄䏕䏗䎃䎆䎔䎃䎋䎶䏗䏒䏓䏓䏈䏕䎃䎆䎔䎌䎑
䎙䎌䎷䏌䏊䏋䏗䏈䏑䎃䎳䏌䏏䏏䏒䏚䎃䎱䏘䏗䎑
䎷䏋䏌䏖䎃䏓䏕䏒䏇䏘䏆䏗䎃䏓䏕䏈䏙䏈䏑䏗䏖䎃䏗䏋䏈䎃䏚䏌䏕䏌䏑䏊䎃䏉䏕䏒䏐䎃䏆䏒䏌䏏䏌䏑䏊䎃䏄䏕䏒䏘䏑䏇䎃䏚䏋䏈䏑䎃䏄䏇䏍䏘䏖䏗䏌䏑䏊䎃䏗䏋䏈䎃䏕䏌䏇䏈䎃䏋䏈䏌䏊䏋䏗䎃䏘䏓䏒䏑䎃䏖䏈䏗䎐䏘䏓䎃䎃
䏚䏌䏗䏋䏒䏘䏗䎃䏗䏋䏈䎃䏑䏈䏈䏇䎃䏗䏒䎃䏇䏌䏖䏆䏒䏑䏑䏈䏆䏗䎃䏗䏋䏈䎃䏐䏒䏗䏒䏕䎑
䎧䏈䏓䏈䏑䏇䏌䏑䏊䎃䏘䏓䏒䏑䎃䏇䏕䏌䏙䏌䏑䏊䎃䏆䏒䏑䏇䏌䏗䏌䏒䏑䏖䎃䏄䏑䏇䎒䏒䏕䎃䏖䏈䏗䏗䏌䏑䏊䏖䎏䎃䏗䏋䏈䎃䎨䎧䎩䎦䎃䏐䏒䏗䏒䏕䎃䏐䏄䏜䎃䏕䏒䏗䏄䏗䏈䎃䏌䏑䎃䏒䏑䏈䎃䏇䏌䏕䏈䏆䏗䏌䏒䏑䎑䎃䎬䏉䎃䏏䏈䏗䎃
䏄䏏䏒䏑䏈䎏䎃䏗䏋䏈䎃䏚䏌䏕䏌䏑䏊䎃䏐䏌䏊䏋䏗䎃䏊䏈䏗䎃䏗䏄䏑䏊䏏䏈䏇䎃䏘䏓䎃䏚䏌䏗䏋䎃䏓䏌䏖䏗䏒䏑䎃䏕䏒䏇䎃䏄䏑䏇䎏䎃䏆䏒䏑䏖䏈䏔䏘䏈䏑䏗䏏䏜䎏䎃䏐䏌䏊䏋䏗䎃䏅䏈䎃䏅䏕䏒䏎䏈䏑䎃䏒䏕䎃
䏇䏌䏖䏆䏒䏑䏑䏈䏆䏗䏈䏇䎑
䎬䏗䎃䏘䏖䏘䏄䏏䏏䏜䎃䏇䏒䏈䏖䎃䏑䏒䏗䎃䏆䏕䏈䏄䏗䏈䎃䏄䏑䏜䎃䏓䏕䏒䏅䏏䏈䏐䎃䏌䏉䎃䏗䏋䏈䎃䏚䏌䏕䏌䏑䏊䎃䏌䏖䎃䏘䏑䏚䏒䏘䏑䏇䎃䏚䏋䏈䏑䏈䏙䏈䏕䎃䏗䏋䏈䎃䏗䏄䏑䏊䏏䏌䏑䏊䎃䏌䏖䎃䏉䏒䏘䏑䏇䎃䏒䏕䎃䏘䏓䏒䏑䎃
䏓䏈䏕䏌䏒䏇䏌䏆䎃䏌䏑䏖䏓䏈䏆䏗䏌䏒䏑䏖䎏䎃䏋䏒䏚䏈䏙䏈䏕䎃䏌䏑䎃䏕䏄䏕䏈䎃䏆䏄䏖䏈䏖䎃䏗䏋䏈䎃䏌䏑䏆䏌䏇䏈䏑䏆䏈䎃䏌䏖䎃䏔䏘䏌䏗䏈䎃䏋䏌䏊䏋䎃䏈䏑䏒䏘䏊䏋䎃䏗䏒䎃䏆䏄䏘䏖䏈䎃䏅䏕䏈䏄䏎䏄䏊䏈䎃䏒䏕䎃
䏇䏌䏖䏆䏒䏑䏑䏈䏆䏗䏌䏒䏑䎃䏌䏑䎃䏅䏈䏗䏚䏈䏈䏑䎃䏕䏒䏘䏗䏌䏑䏈䎃䏐䏄䏌䏑䏗䏈䏑䏄䏑䏆䏈䎑
䎬䏉䎃䏗䏄䏑䏊䏏䏌䏑䏊䎃䏒䏉䎃䏗䏋䏈䎃䏚䏌䏕䏌䏑䏊䎃䏒䏆䏆䏘䏕䏖䎃䏚䏌䏗䏋䏌䏑䎃䏄䎃䏉䏈䏚䎃䏇䏄䏜䏖䎃䏒䏉䎃䎨䎧䎩䎦䎃䏌䏑䏖䏗䏄䏏䏏䏄䏗䏌䏒䏑䎏䎃䏌䏑䏖䏗䏄䏏䏏䎃䏗䏋䏌䏖䎃䏓䏕䏒䏇䏘䏆䏗䎃䏗䏒䎃䏓䏕䏈䏙䏈䏑䏗䎃
䏉䏘䏗䏘䏕䏈䎃䏒䏆䏆䏘䏕䏕䏈䏑䏆䏈䎑䎃
䎬䏑䏖䏗䏄䏏䏏䏄䏗䏌䏒䏑䎃䏒䏉䎃䏗䏋䏌䏖䎃䏓䏕䏒䏇䏘䏆䏗䎃䏌䏖䎃䏒䏓䏗䏌䏒䏑䏄䏏䎑䎃
+HVJGJGKIJVQHVJGRKNNQYDCNN
ECUGRKEVWTGVQVJGTKIJVYKVJ
UVCTOCTMKUOOQTJKIJGT 72
ڎ
(KIWTG
2CTV2NCKP9CUJGT
2CTV$QNV%QNNCT
2CTV5VQRRGT
2CTV$QNVNQPI
2CTV%QNNCT
2CTV5VQRRGT
2KNNQY$CNN%CUG
2KNNQY$CNN7RRGT/QWPV
7RRGT525GCV
2CTV
%CODGT#FLWUVKPI$QNV.QY6[RG
2CTV5RTKPI9CUJGT
2KUVQP4QF
ޣ%QORQPGPVUޤ
2CTV5VQRRGT
2CTV5VQRRGT
2CTV%QNNCT
2CTV$QNVNQPI
2CTV$QNV%QNNCT
2CTV%CODGT#FLWUVKPI$QNV.QY6[RG
2CTV5RTKPI9CUJGT
2CTV2NCKP9CUJGT
RE
RE
RE
RE
RE
RE
RE
RE
䬈䎬䏑䏖䏗䏄䏏䏏䏄䏗䏌䏒䏑䎃䎳䏕䏒䏆䏈䏇䏘䏕䏈䬉䎃
䎔䎌䎃䎬䏑䏖䏗䏄䏏䏏䎃䎊䎳䏄䏕䏗䎃䎆䎔䎃䎋䎶䏗䏒䏓䏓䏈䏕䎃䎆䎔䎌䎊䎃䏘䏖䏌䏑䏊䎃䏅䏒䏏䏗䏖䎃
䏌䏑䏆䏏䏘䏇䏈䏇䎃䏌䏑䎃䏗䏋䏈䎃䏎䏌䏗
䎃䎃䎃䎍䎷䏋䏈䏕䏈䎃䏄䏕䏈䎃䏗䏚䏒䎃䏕䏒䏚䏖䎃䏒䏉䎃䏉䏒䏘䏕䎃䏖䏆䏕䏈䏚䎃䏋䏒䏏䏈䏖䎃䏒䏑䎃
䏗䏋䏈䎃䏕䏈䏙䏈䏕䏖䏈䎃䏖䏌䏇䏈䎃䏒䏉䎃䎳䏌䏏䏏䏒䏚䎃䎥䏄䏏䏏䎃䎸䏓䏓䏈䏕䎃䎰䏒䏘䏑䏗䎑䫹
䎸䏖䏈䎃䏗䏚䏒䎃䏋䏒䏏䏈䏖䎃䏄䏗䎃䏗䏋䏈䎃䏈䏑䏇䎃䏒䏉䎃䏈䏄䏆䏋䎃䏕䏒䏚䎑
䎃䎃䎃䎍䎬䏉䎃䏗䏋䏈䎃䏄䏅䏒䏙䏈䎃䏌䏖䎃䏑䏒䏗䎃䏄䏙䏄䏌䏏䏄䏅䏏䏈䎏䎃䏐䏒䏙䏈䎃䏗䏋䏈䎃䏆䏄䏐䏅䏈䏕䎃
䏄䏇䏍䏘䏖䏗䏌䏑䏊䎃䏅䏒䏏䏗䏖䎃䏗䏒䎃䏗䏋䏈䎃䏒䏑䏈䏖䎃䏌䏑䏖䏌䏇䏈䎑
䎃䎃䎃䎍䎸䏖䏈䎃䎊䎳䏄䏕䏗䎃䎆䎗䎃䎋䎥䏒䏏䏗䎃䎟䏏䏒䏑䏊䎡䎌䎊䎃䏄䏑䏇䎃䎊䎳䏄䏕䏗䎃䎆䎃䎘䎋䎥䏒䏏䏗䎃
䎦䏒䏏䏏䏄䏕䎌䎊䎃䏉䏒䏕䎃䏗䏋䏈䎃䏎䏌䏗䎃䏚䏌䏗䏋䎃䏗䏋䏈䎃䏓䏌䏏䏏䏒䏚䎃䏅䏄䏏䏏䎃䏆䏄䏖䏈䎃
䎕䎗䎑䎓䏐䏐䎃䏋䏌䏊䏋䎃䎋䏕䏈䏉䏈䏕䎃䏗䏒䎃䏗䏋䏈䎃䏉䏌䏊䏘䏕䏈䎃䎔䎃䏖䏋䏒䏚䏑䎃
䏅䏈䏏䏒䏚䎌䎑
䎃䎃䎃䎍䎤䏏䏖䏈䎏䎃䏉䏒䏕䎃䏗䏋䏈䎃䏎䏌䏗䎃䏚䏌䏗䏋䎃䏗䏋䏈䎃䏓䏌䏏䏏䏒䏚䎃䏅䏄䏏䏏䎃䏆䏄䏖䏈䎃
䎕䎗䎑䎓䏐䏐䎃䏋䏌䏊䏋䎏䎃䎨䎧䎩䎦䎃䏐䏒䏗䏒䏕䎃䏐䏌䏊䏋䏗䎃䏌䏑䏗䏈䏕䏉䏈䏕䏈䎃䏚䏌䏗䏋䎃
䏗䏋䏈䎃䏆䏄䏐䏅䏈䏕䎃䏄䏇䏍䏘䏖䏗䏌䏑䏊䎃䏅䏒䏏䏗䎏䎃䏇䏈䏓䏈䏑䏇䏌䏑䏊䎃䏒䏑䎃䏗䏋䏈䎃
䏆䏄䏐䏅䏈䏕䎃䏄䏑䏊䏏䏈䎃䏖䏈䏗䏗䏌䏑䏊䎑䎃䎬䏑䎃䏗䏋䏄䏗䎃䏆䏄䏖䏈䎏䎃䏘䏖䏈䎃䎊䎳䏄䏕䏗䎃
䎆䎚䎃䎋䎦䏄䏐䏅䏈䏕䎃䎤䏇䏍䏘䏖䏗䏌䏑䏊䎃䎥䏒䏏䏗䎃䎟䏏䏒䏚䎃䏗䏜䏓䏈䎡䎌䎊䎏䎃䎊䎳䏄䏕䏗䎃
䎆䎛䎃䎋䎶䏓䏕䏌䏑䏊䎃䎺䏄䏖䏋䏈䏕䎌䎊䎃䏄䏑䏇䎃䎊䎳䏄䏕䏗䎃䎆䎜䎃䎋䎳䏏䏄䏌䏑䎃
䎺䏄䏖䏋䏈䏕䎌䎊䎃䏗䏒䎃䏄䏙䏒䏌䏇䎃䏌䏑䏗䏈䏕䏉䏈䏕䏈䏑䏆䏈䎑
䎕䎌䎰䏒䏘䏑䏗䎃䎊䎳䏄䏕䏗䎃䎆䎕䎃䎋䎶䏗䏒䏓䏓䏈䏕䎃䎆䎕䎌䎊䎃䏗䏒䎃䎸䏓䏓䏈䏕䎃
䎶䏓䏕䏌䏑䏊䎃䎶䏈䏄䏗䎑
䎃䎃䎃䎍䎩䏌䏗䎃䏓䏕䏒䏗䏕䏘䏇䏌䏑䏊䎃䏓䏄䏕䏗䎃䎊䎤䎊䎃䏗䏒䎃䏒䏑䏈䎃䏒䏉䎃䏗䏋䏈䎃䏙䏈䏕䏗䏌䏆䏄䏏䎃
䏖䏏䏒䏗䏖䎃䏒䏑䎃䏗䏋䏈䎃䏖䏌䏇䏈䎃䏒䏉䎃䎸䏓䏓䏈䏕䎃䎶䏓䏕䏌䏑䏊䎃䎶䏈䏄䏗䎑
䎃䎃䎃䎍䎬䏑䏖䏈䏕䏗䎃䏘䏓䏓䏈䏕䎃䏓䏕䏒䏗䏕䏘䏇䏌䏑䏊䎃䏓䏄䏕䏗䎃䏒䏉䎃䎸䏓䏓䏈䏕䎃䎶䏓䏕䏌䏑䏊䎃
䎶䏈䏄䏗䎃䏗䏋䏕䏒䏘䏊䏋䎃䏗䏋䏈䎃䏋䏒䏏䏈䎃䏌䏑䎃䏗䏋䏈䎃䏖䏗䏒䏓䏓䏈䏕䎑
䎖䎌䎰䏒䏘䏑䏗䎃䎸䏓䏓䏈䏕䎃䎶䏓䏕䏌䏑䏊䎃䎶䏈䏄䏗䎏䎃䏄䏖䏖䏈䏐䏅䏏䏈䏇䎃䏌䏑䎃
䏖䏗䏈䏓䎃䎕䎌䎃䏄䏅䏒䏙䏈䎏䎃䏗䏒䎃䎳䏌䏖䏗䏒䏑䎃䎵䏒䏇䎑
䎃䎃䎃䎍䎤䏏䏌䏊䏋䎃䏗䏋䏈䎃䏖䏏䏒䏗䎃䏒䏑䎃䎳䏌䏖䏗䏒䏑䎃䎵䏒䏇䎃䏚䏌䏗䏋䎃䏗䏋䏈䎃䏒䏑䏈䎃䏒䏑䎃
䎸䏓䏓䏈䏕䎃䎶䏓䏕䏌䏑䏊䎃䎶䏈䏄䏗䎑
䎗䎌䎬䏑䏖䏈䏕䏗䎃䎊䎳䏄䏕䏗䎃䎆䎕䎃䎋䎦䏒䏏䏏䏄䏕䎌䎊䎑
䎃䎃䎃䎍䎳䏏䏄䏆䏈䎃䏗䏋䏈䎃䏖䏌䏇䏈䎃䏚䏌䏗䏋䎃䏖䏐䏄䏏䏏䏈䏕䎃䏒䏘䏗䏈䏕䎃䏇䏌䏄䏐䏈䏗䏈䏕䎃䏗䏒䏓䎑
䎘䎌䎰䏒䏘䏑䏗䎃䎳䏌䏏䏏䏒䏚䎃䎥䏄䏏䏏䎃䎸䏓䏓䏈䏕䎃䎰䏒䏘䏑䏗䎑
䎃䎃䎃䎍䎩䏌䏗䎃䏗䏋䏈䎃䏓䏕䏒䏗䏕䏘䏇䏌䏑䏊䎃䏓䏄䏕䏗䎃䎊䎥䎊䎃䏒䏉䎃䎊䎳䏄䏕䏗䎃䎆䎕䎃䎋䎶䏗䏒䏓䏓䏈䏕䎃
䎆䎕䎌䎊䎃䏌䏑䎃䏅䏈䏗䏚䏈䏈䏑䎃䏓䏄䏕䏗䏖䎃䎊䎦䎊䎃䎋䏑䏒䏗䎃䏉䏄䏆䏌䏑䏊䎃䏗䏋䏈䎃䏅䏒䏏䏗䏖䎌䎃
䏒䏉䎃䎊䎳䏄䏕䏗䎃䎆䎔䎃䎋䎶䏗䏒䏓䏓䏈䏕䎃䎆䎔䎌䎑
䎙䎌䎷䏌䏊䏋䏗䏈䏑䎃䎳䏌䏏䏏䏒䏚䎃䎱䏘䏗䎑
6QVWTP10
5JQTVRTGUUQH
=/1&'?=&+52?QT=&KCN?
6WTPKPIVJG2QYGT101((
6Q.QEM1RGTCVKQP
+PKVKCN5GVWR
6QVWTP1((
=/1&'?.QPIRTGUU
5GNGEV'#5;QT%7561/UGVWR
FTKXGTWPKVUJCXGDGGPRCKTGFKFGPVKHKGFYKVJVJGEQPVTQNNGTCVVJGVKOGQHUJKROGPV+HWUKPI
CUKUKPKVKCNRCKTKPIUGVWRKUPQVTGSWKTGF4GEQPHKIWTGYJGPGXGTVJGUGVVKPIUCTGKPKVKCNK\GF
2CKTKPIKUVQOCMGVJGEQPVTQNNGTTGEQIPK\GKFGPVKH[VJGURGEKHKEFTKXGTWPKVU
6QNQEMCPFWPNQEMQRGTCVKQP
=/1&'?=&+52?
.QPIRTGUUUKOWNVCPGQWUN[
9JGPVJGQRGTCVKQPKUNQEMGF
####
KEQPQPVJGWRRGTTKIJV
EQTPGTQPVJGFKURNC[YKNN
KNNWOKPCVG
+PKVKCNK\CVKQP
4GEQIPK\KPI%QPVTQNNGT+PUVCNNCVKQP#PING%QTTGEVKQPQH)(QTEG&KTGEVKQP
٨5GNGEV'#5;5'672KHFTKXGTWPKVUCTGWUGFCPFCNUQ[QWYCPVVQUGV
WRGCUKN[4GHGTVQRI㧕
٨5GNGEV%7561/KHQTFTKXGTWPKVUKUCTGWUGFCPFQT[QWYCPV
VQEWUVQOK\GUGVVKPIU4GHGTVQRI㨪
6JKURTQFWEVGPCDNGU)CEVWCVGFCFLWUVOGPVCPF)HQTEGFKURNC[WUKPI)UGPUQTDWKNVKPUKFGVJGEQPVTQNNGT
WPKV1PEGVJGEQPVTQNNGTKUKPUVCNNGFXGJKENGUFTKXKPIFKTGEVKQPPGGFUVQDGEQPHKIWTGF
$GUWTGVQEQTTGEV)HQTEGFKTGEVKQPHQNNQYKPIVJGRTQEGFWTGUFGUETKDGFQPRI
%QTTGEV)HQTEGFGTGEVKQPYJGPGXGTVJGRQUKVKQPCPFQTVJGCPINGQHVJGEQPVTQNNGTKUEJCPIGF
)HQTEGOKIJVPQVDGFGVGEVGFRTQRGTN[KHVJGEQPVTQNNGTWPKVKUKPUVCNNGFCVCITGCVGTCPING
#FLWUVVJGEQPVTQNNGTWPKVUQVJGUETGGPKUHCEKPIYKVJKPFGITGGUVQVJGQRRQUKVGFKTGEVKQP
QHVTCXGNDQVJJQTK\QPVCNN[CPFXGTVKECNN[
;QWECPKPKVKCNK\GUGVVKPIUVQTGUVQTGVJGFGHCWNVUGVVKPIUCVVJGVKOGQHUJKROGPV
&KUEQPPGEVVJGRQYGTEQPPGEVQT
2TGUUCPFJQNF=&+52?CPF=&KCN?UKOWNVCPGQWUN[
4GEQPPGEVVJGRQYGTEQPPGEVQTYJKNGJQNFKPIVJGCDQXGVYQDWVVQPU
#..%.'#4HNCUJGUQPUETGGP
+HNGHVYKVJPQQRGTCVKQPHQTUGEQPFUVJGU[UVGOYKNNTGVWTP
VQPQTOCNQRGTCVKQPYKVJQWVKPKVKCNK\KPI
9JKNG#..%.'#4HNCUJGURTGUUCPFJQNF=&+52?CPF=&KCN?
UKOWNVCPGQWUN[HQTCDQWVUGEQPF
%.'#41-HNCUJGUQPUETGGPCPFVJGU[UVGOGPVGTU'#5;5'672
OQFG+PKVKCNK\CVKQPEQORNGVGF
㪩㪜㪝
㪚㪘㪬㪫㪠㪦㪥
㪩㪜㪝
+PKVKCNUGVWRYJGPFTKXGTWPKVUCTGWUGFFTKXGTHQTHTQPVCPFHQTTGCT
٨
+P'#5;OQFGFCORKPIHQTEGCFLWUVOGPVKUUGVVQNGXGNOQFGCPFXGJKENGURGGFKUFKURNC[GFKPMOJ
+H[QWYCPVVQEJCPIGTGHGTVQ%7561/UGVWR
٨5JQTVRTGUUQH=/1&'?TGVWTPUVQVJGRTGXKQWUQRGTCVKQP
٨$GHQTGUVCTVKPIUGVWRJCXG[QWTPQVGQHFTKXGT+&RICXCKNCDNG
6JGCDQXGUCORNGUUJQYVJCVFTKXGT+&HQTHTQPVKU(CPFHQTTGCTKU
5GNGEVQPGQH(QTHQTRCTKPIHTQPVFTKXGT
+H(KUUGNGEVGFUGNGEVGKVJGTQTHQTTGCT
5GNGEVVQKPRWV+&FKTGEVN[
+HVJGCRRTQRTKCVGFTKXGT+&KUPQVFKURNC[GFKPRWV+&FKTGEVN[4GHGTVQRI
5GVVKPI +PUVTWEVKQP
5GNGEVGF+VGO
1RGTCVKQP&KURNC[
(TQPV&TKXGT
2CKTKPI
4GCT&TKXGT
2CKTKPI
4GCT&TKXGT
+&
(TQPV&TKXGT
+&
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
5JQTVRTGUU
5GNGEVKPIFCORKPIHQTEG&(CFLWUVOGPVOQFGCPFURGGFWPKVCPFHQTPKVKCNUGVWRHQTWUKPIQTFTKXGTWPKVU
٨5JQTVRTGUUQH=/1&'?TGVWTPUVQVJGRTGXKQWUQRGTCVKQP
٨$GHQTGUVCTVKPIUGVWRJCXG[QWTPQVGQHFTKXGT+&RICXCKNCDNG
MOJ.GHV㧦/2*
4KIJV㧦MOJ
52''&
56'2
&4/1&'
&4#55+)0
5RGGF
7PKV
/GPW
5GNGEVKQP
5GVVKPI
+PUVTWEVKQP
#XCKNCDNG1RVKQPU
&GHCWNV1RGTCVKQP&KURNC[
=&KCN?ޓ
6WTP
.QPIRTGUU
=&KCN?
6WTP
=&KCN?
5JQTVRTGUU
&(5VGRU
=&KCN?
5JQTVRTGUU
=&KCN?
5JQTVRTGUU

&CORKPIHQTEGCFLWUVOGPVTCPIGECPDGFKXKFGFKPVQQTUVGRUVJGJCTFGUVVJGUQHVGUVQT
9JGPVJGPWODGTQHCFLWUVOGPVUVGRUKUEJCPIGFXCNWGUKPCOGOQT[YKNNDGECPEGNGFCPFTGVWTPGFVQFGHCWNV
(QTOCPWCNKPRWVQHFTKXGT+&TGHGTVQRI

5GNGEVCPFKPRWV&4YJGPQPGFTKXGTKUWUGF&4YJGPWUGF&4YJGPWUGFCPF&4YJGPWUGF
5GNGEVKPI%.'#4YKNNECPEGN#..FTKXGTRCKTKPIUGVVKPIU
6JGCDQXGUCORNGUUJQYVJCVFTKXGT+&HQTHTQPVKU(CPFHQTTGCTKU
5GNGEVQPGQH(QTHQTRCTKPIHTQPVFTKXGT
+H(KUUGNGEVGFUGNGEVGKVJGTQTHQTTGCT
5GNGEVVQKPRWV+&FKTGEVN[
+HVJGCRRTQRTKCVGFTKXGT+&KUPQVFKURNC[GFKPRWV+&FKTGEVN[4GHGTVQRI




4GVWTPVQ
+PKVKCN
&KURNC[
&TKXGT+&
&4VQ&4
%.'#4

4GRGCVVJG
RTQEGFWTGU

=/1&'?
5JQTVRTGUU
VKOGU
Z
NGXGN

&4
/1&'
CVVJG
UJKROGPV



52''&
56'2
&4/1&'
&4#55+)0
VQ
4GHGT
VQ
6CDNG
HQTFGVCKNU
&4VQ&4
%.'#4

.GHV㧦
%GPVGT㧦
4KIJV㧦
&TKXGT
2CKTKPI
/GPW
5GNGEVKQP
&TKXGT
5GNGEVKQP
&TKXGT
#UUKIPOGPV
+PUVTWEVKQP
#XCKNCDNG1RVKQPU
&GHCWNV1RGTCVKQP&KURNC[5GVVKPI
=&KCN?ޓ
6WTP
.QPIRTGUU
=&KCN?ޓ
6WTP
.QPIRTGUU
=&KCN?ޓ
6WTP
.QPIRTGUU
=&KCN?ޓ
6WTP
.QPIRTGUU
=&KCN?ޓ
6WTP
.QPIRTGUU
=&KCN?
6WTP
=&KCN?
5JQTVRTGUU
=&KCN?
5JQTVRTGUU

(QTEQPVTQNNKPIKPFKXKFWCNEQORTGDQWPFCFLWUVCDNGFCORGTYKVJFTKXGTWPKV%JQPTGDQWPFUKFGCPF%JQPEQOR
(QTEQPVTQNNKPIKPFKXKFWCNEQORTGDQWPFCFLWUVCDNGFCORGTUYKVJFTKXGTWPKVUWPKVVQEQPVTQN
TGDQWPFUKFGQHDQVJFCORGTUCPFCPQVJGTWPKVVQEQPVTQNEQOR
(V
UKOWNVCPGQWU
UKOWNVCPGQWU
016CFLWUVCDNG
UGRCTCVG
UGRCTCVG
UGRCTCVG
UGRCTCVG
UGRCTCVG
UGRCTCVG
UGRCTCVG
UGRCTCVG
UKOWNVCPGQWU
UKOWNVCPGQWU
016CFLWUVCDNG
016CFLWUVCDNG
016CFLWUVCDNG
&4
4T
4TTGDQWPF
4T
4TTGDQWPF
4T
4T
4T
4TEQOR
&4
4T
4TEQOR
4T
4TEQOR
&4
4T
(V
(V
(VEQOR
(VEQOR
(V
(VEQOR
(V
(VEQOR
4T
4TTGDQWPF
4T
4TEQOR
&4
(V
(V
4T
(V
(V
(VTGDQWPF
(VTGDQWPF
(V
(VTGDQWPF
(V
(VTGDQWPF
(V
(V
4T
4TTGDQWPF
4T
UKOWNVCPGQWU
016CFLWUVCDNG
UKOWNVCPGQWU
UGRCTCVG
UGRCTCVG
UGRCTCVG
UGRCTCVG
UKOWNVCPGQWU
UKOWNVCPGQWU
016CFLWUVCDNG
016CFLWUVCDNG
UGRCTCVG
UGRCTCVG
UGRCTCVG
UGRCTCVG
016CFLWUVCDNG
















6CDNG%QODKPCVKQPQH&CORKPI(QTEG&(#FLWUVOGPV6[RGUCPF&TKXGT7PKV&4
6[RGQH%QOR4GDQWPF&(#FLWUVOGPV
6JGEJCTVUJQYUVJGUCORNGFTKXGT+&CPFHQTTGHGTGPEGQPN[$GUWTGVQGPVGT[QWTQYP+&U
5GVVKPI
+PUVTWEVKQP
#XCKNCDNG1RVKQPU
1RGTCVKQP&KURNC[
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
4GRGCVVJG
RTQEGFWTGU
=&KCN?
.QPIRTGUU
+PRWV
UV&KIKV
&KTGEV+PRWV
+PRWV
PFVJ
&KIKVU
/CPWCN+PRWV
#
(
#
(
4GVWTPVQ
+PKVKCN
&KURNC[
=/1&'?
5JQTVRTGUU
&4㨪&4
%.'#4
5JQTVRTGUUQH=/1&'?UYKVEJGUDGVYGGPEQPVTQNOQFGU
(QTFGVCKNUQHGCEJOQFG
TGHGTVQVJGHQNNQYKPIRCIGU
/CPWCN/QFGޓ̖̖̖̖̖̖̖̖RI
#WVQOCVKE%QPVTQN/QFGUޓ̖̖̖RI
)#EVWCVGF)#FLWUVOGPV
̖̖̖RI㨪
5RGGF5GPUKVKXG5#FLWUVOGPV
̖̖̖RI㨪
%JQQUGHTQOQPGQHVJGEQPVTQNOQFGUCPFQTEQODKPGFOQFGU
5YKVEJKPI%QPVTQN/QFGU
/QFGUYKVJ)25U[ODQNECPDGUGNGEVGFQPN[YJGPQRVKQPCN)25-KVKUKPUVCNNGF
/CPWCN/QFG
)#TTCPIG㧗5#TTCPIG
)#TTCPIG
#WVQOCVKE%QPVTQN/QFG
).KPGCT
5#TTCPIG
5.KPGCT
).KPGCT㧗5#TTCPIG
)#TTCPIG㧗5.KPGCT
).KPGCT㧗5.KPGCT
/CPWCN/QFG
9KVJQWV)(QTEG$CT)TCRJ
$CUKE1RGTCVKQPU 5GNGEV/GOQT[0Q
(TQPV&(#FLWUVOGPV 4GCT&(#FLWUVOGPV
;QWECPUGNGEVHTQOFKHHGTGPVFCORKPIHQTEGCFLWUVOGPVOQFGUQTCVKPKVKCNUGVWR
4GHGTVQRI
=&KCN?
5JQTVRTGUUVQUYKVEJDGVYGGPOGPWU
8GJKENGURGGFECPQPN[DGFKURNC[GFYJGPVJGQRVKQPCN)25MKVKUEQPPGEVGFWUGF
6WTP=&KCN?VQ.GHV
VQ5OCNNGTPWODGT
6WTP=&KCN?VQ4KIJV
VQUGV&(*CTFGT VQUGV&(5QHVGT
VQ.CTIGTPWODGT
4GCT&(
$CT)TCRJ
(TQPV&(
$CT)TCRJ
(TQPV
&CORKPI(QTEG.GXGN
/CPWCN/QFG
4GCT
&CORKPI(QTEG.GXGN
8GJKENG5RGGF
/GOQT[0Q/QFKHKCDNG+VGO
8GJKENG5RGGF
9KVJ)(QTEG$CT)TCRJ4GHGTVQRI
4KIJVYCTF)(QTEG
$CT)TCRJ
.GHVYCTF)(QTEG
$CT)TCRJ
&GEGNGTCVKQP)(QTEG
$CT)TCRJ
#EEGNGTCVKQP)(QTEG
$CT)TCRJ
࡮'ZRNCPCVKQPQH&KURNC[
࡮*QYVQ%JCPIG&CORKPI(QTEG

0QVG&Q016NQPIRTGUU&KCN$[FQKPIUQCPGYPWODGTQHUVGRUYKNNDGTGIKUVGTGF
5GVVKPI +PUVTWEVKQP
#XCKNCDNG
1RVKQPU
1RGTCVKQP&KURNC[
=&KCN?
6WTP
5JQTVRTGUU
2㨪2
4GVTKGXG
/GOQT[0Q
5GVVKPI +PUVTWEVKQP
#XCKNCDNG
1RVKQPU
1RGTCVKQP&KURNC[
5GNGEVVJG
FGUKTGFNGXGN
=&KCN?
6WTP
.QPIRTGUU
2㨪2
4GVTKGXG
/GOQT[0Q
&(
#FLWUVOGPV
(QTJQYVQEJCPIG&(CFLWUVOGPVOQFGUNGXGNNGXGNNGXGNTGHGTVQRI
6CDNG&GHCWNV/GOQT[2CTCOGVGTU/CPWCN/QFG
8CNWGUKPVJGVCDNGCTGKPNGXGNNGXGNCPFNGXGNOQFGUHTQONGHVVQTKIJV
4T
%QOR










4T
4GDQWPF










(V
4GDQWPF










(V
%QOR










4T










(V










%QOR4GDQWPF
5KOWNVCPGQWU#FLWUVOGPV
%QOR4GDQWPF
5GRCTCVG#FLWUVOGPV
/GOQT[
0Q
2
2
2
2
2
2
2
2
2
2
࡮*QYVQ5GV&GUKTGF&CORKPI(QTEG.GXGNKPVQ/GOQT[
࡮*QYVQ4GECNN&CORKPI(QTEG5GVVKPIHTQO/GOQT[
࡮&GHCWNV/GOQT[2CTCOGVGTU
#WVQOCVKE%QPVTQN/QFGU
)(QTEG5GVVKPI4GHGTVQRIFGHCWNVRI6CDNG
5RGGF5GVVKPI4GHGTVQRIFGHCWNVRI6CDNG
1PN[5KUFKURNC[GFHQTURGGFUGPUKVKXGOQFGCPFQPN[)HQT)CEVWCVGFOQFG
࡮*QYVQ/QFKH[5GVVKPIU
࡮*QYVQ%JCPIG%QPVTQN/QFGU
5GVVKPI +PUVTWEVKQP
#XCKNCDNG
1RVKQPU
1RGTCVKQP&KURNC[
=&KCN?
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
)5
)5
)5
)5
+OCIGQH#WVQOCVKE%QPVTQN/QFGU
+PRWVFCVCHQTUYKVEJVKOKPIKUDCUGFQP
CEEGNGTCVKQPFGEGNGTCVKQP)HQTEGCPFQTURGGFHQTDQVJ#TTCPIG
CPF.KPGCTOQFGUHQWTRCVVGTPUKPVQVCN
#TTCPIG/QFG
1WVRWV
/GVJQF
.KPGCT/QFG
)(QTEG )#TTCPIG/QFG
)(QTEG ).KPGCT/QFG
5#TTCPIG/QFG
8GJKENG
5RGGF
8GJKENG
5RGGF 5.KPGCT/QFG
'&(%#%6+8'GPCDNGUCWVQOCVKE
CFLWUVOGPVQHFCORKPIHQTEG&(
DCUGFQPCEEGNGTCVKQPFGEGNGTCVKQP
)HQTEGCPFXGJKENGURGGFQVKQPCN
)25-KVKUTGSWKTGF
#WVQOCVKECFLWUVOGPVKUCXCKNCDNGKP
FKHHGTGPVOQFGUCTTCPIGOQFGVQ
CFLWUV&(CVRTGUGVRQKPVUCPF
NKPGCTOQFGVQCFLWUV&(OQTG
UOQQVJN[EQPPGEVKPIRTGUGVRQKPVU
6JGUGOQFGUECPDGEQODKPGFHQT
OQTGEQORTGJGPUKXGCFLWUVOGPV
+PRWV
&CVC
#EEGNGTCVKQP&GEGNGTCVKQP
)(QTEG
8GJKENG5RGGF
6JGUGQRVKQPUCTG016UGNGEVCDNGKP/CPWCN/QFG
)#TTCPIG).KPGCT/QFGU
(TQPV
&CORKPI(QTEG.GXGN
#EGNGTCVKQP)(QTEG$CT)TCRJ
4GCT
&CORKPI(QTEG.GXGN
㪞㪄㪘㪺㫋㫌㪸㫋㪼㪻㩷㪦㫇㪼㫉㪸㫋㫀㫆㫅㩷㪛㫀㫊㫇㫃㪸㫐
㩿㫆㫅㫃㫐㩷㫊㪿㫆㫎㫅㩷㫎㪿㪼㫅㩷㪸㪺㫋㫀㫍㪸㫋㪼㪻㪀
#EEGNGTCVKQP&GEGNGTCVKQP)(QTEG
4KIJVYCTF)(QTEG
$CT)TCRJ
.GHVYCTF)HQTEG
$CT)TCRJ
&GEGNGTCVKQP)(QTEG
$CT)TCRJ
࡮'ZRNCPCVKQPQH&KURNC[
࡮&GHCWNV8CNWGU
(QTJQYVQEJCPIG&(CFLWUVOGPVOQFGUNGXGNNGXGNNGXGNTGHGTVQRI
)(QTEGD&GEGNGTCVKQPC#EEGNGTCVKQP
6CDNG&GHCWNV/GOQT[2CTCOGVGTU)#EVWCVGF#FLWUVOGPV
8CNWGUKPVJGVCDNGCTGKPNGXGNNGXGNCPFNGXGNOQFGUHTQONGHVVQTKIJV
4T
%QOR


















4T
4GDQWPF


















)(QTEG
D
D
D
D
D
C
C
C
C
C
D
D
D
D
D
C
C
C
C
C
(V
4GDQWPF


















(V
%QOR


















4T


















(V


















%QOR4GDQWPF
5KOWNVCPGQWU#FLWUVOGPV
%QOR4GDQWPF
5GRCTCVG#FLWUVOGPV
0Q
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
/1&'
/GOQT[
0QTOCN
/GOQT[
&[PCOKE
$GHQTGUVCTVKPIQRGTCVKQPUGVVJGWPKVVQVJGHQNNQYKPIEQPFKVKQPU
࡮/QFG)#0QVG8CNWGUECP016DGOQFKHKGFKP)#5#QT)#5.OQFG
࡮&KURNC[&CORKPIHQTEGNGXGN
*QYVQ/QFKH[)(QTEG%JCPIG2QKPVU

=&KCN?
.QPIRTGUU
4GRGCVVJG
CDQXG
RTQEGFWTGU

=/1&'?
5JQTVRTGUU
ZVKOGU
Z
=&KCN?
.QPIRTGUU
5GNGEV+VGO
VQ/QFKH[
5GV)(QTEG
%JCPIG2QKPV
4GVWTPVQ
+PKVKCN
&KURNC[
5GVVKPI +PUVTWEVKQP
#XCKNCDNG
1RVKQPU
1RGTCVKQP&KURNC[
=&KCN?
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
)OGOQT[
)OGOQT[
)
̖
)
D
C
㧗
㧙
㧗
㧗
㧙
㧙
㧗
㧗
㧙
㧙
5GV(TQPV
&(.GXGN
5GV4GCT
&(.GXGN
4GVTKGXG
/GOQT[VQ
/QFKH[
#DQXGRTQEGFWTGUCPFOC[CRRGCTKPFKHHGTGPVQTFGTFGRGPFKPIQPVJGRTGXKQWUOQFKHKECVKQP
QRGTCVKQPFQPG
+H)HQTEGGPVGTGFKUVJGUCOGCUVJGRTGXKQWUN[KPRWVXCNWGVJGQNFUGVVKPIYKNNDGTGRNCEGFYKVJ
VJGPGYQPG
/GOQT[PWODGTU)VQ)CTGCWVQOCVKECNN[CNNQECVGFDCUGFQPVJGKPRWV)HQTEGXCNWGKPVJG
CUEGPFKPIQTFGTFGEGNGTCVKQPCEEGNGTCVKQP0WODGTUCTGEQPUVCPVN[TGCNNQECVGFGXGPYJKNG
KPRWVVKPI
6QFGNGVGVJGOGOQT[GPVGTVQ)HQTEGXCNWGCPFUCXG
ECPDGHQWPFDGVYGGP#CPF$
5#TTCPIG5.KPGCT/QFGU
࡮'ZRNCPCVKQPQH&KURNC[
࡮&GHCWNV8CNWGU
(QTJQYVQEJCPIG&(CFLWUVOGPVOQFGUNGXGNNGXGNNGXGNTGHGTVQRI
6CDNGޓ&GHCWNV/GOQT[2CTCOGVGTU5RGGF5GPUKVKXG#FLWUVOGPV
8CNWGUKPVJGVCDNGCTGKPNGXGNNGXGNCPFNGXGNOQFGUHTQONGHVVQTKIJV
4T
%QOR










4T
4GDQWPF










MOJ








/2*








(V
4GDQWPF










(V
%QOR










4T










(V










%QOR4GDQWPF
5KOWNVCPGQWU#FLWUVOGPV
%QOR4GDQWPF
5GRCTCVG#FLWUVOGPV 5RGGF
0Q
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
/QFG
#VVCEJ)25WPKVHKTON[QPVJGFCUJDQCTFRCPGNDGNQYVJG
YKPFUJKGNF
)25WPKVPGGFUVQTGEQIPK\GCVNGCUVHQWTXCNKFUKIPCNUHTQO
VJGUCVGNNKVGUVQUVCTVYQTMKPICPFVJKUWUWCNN[VCMGU
UGEQPFUVQOKPWVGCHVGTVJGRQYGTKUVWTPGFQP
+HVJGXGJKENGOQXGUDGHQTGTGEGKXKPIGPQWIJUCVGNNKVGUKIPCNUKVOC[VCMGNQPIGTVQTGEQIPK\G#HVGT
VWTPKPIQPVJGRQYGTYCKVWPVKN)25WPKVTGEGKXGUXCNKFUKIPCNUVQOQXGVJGXGJKENG)25NCORYKNN
EJCPIGHTQODNKPMKPIVQ10)25NCORYKNNEJCPIGHTQODNKPMKPIVQ10QPEG)25KUCEVKXCVGF
(TQPV
&CORKPI(QTEG.GXGN
4GCT
&CORKPI(QTEG.GXGN
4GCT&(
$CT)TCRJ
(TQPV&(
$CT)TCRJ
8GJKENG5RGGF
/GOQT[
0QTOCN
/GOQT[
5RQTV[
㪚㪘㪬㪫㪠㪦㪥
$GHQTGUVCTVKPIQRGTCVKQPUGVVJGWPKVVQVJGHQNNQYKPIEQPFKVKQPU
࡮/QFG5#0QVG8CNWGUECP016DGOQFKHKGFKP)#5#QT)#5.OQFG
࡮&KURNC[&CORKPIHQTEGNGXGN
*QYVQ/QFKH[5RGGF%JCPIG2QKPVU
5RGGFKPOGOQT[0Q5ECP016DGOQFKHKGF
5RGGFECPDGUGVKPMOJQT/2*KPETGOGPVU
9JGPVJGUCOGXCNWGKUKPRWVVJGQNFUGVVKPIYKNNDGTGRNCEGF
/GOQT[PWODGTU5VQ5CTGCWVQOCVKECNN[CNNQECVGFDCUGFQPVJGKPRWVURGGFXCNWGKPVJG
CUEGPFKPIQTFGT0WODGTUCTGEQPUVCPVN[TGCNNQECVGFGXGPYJKNGKPRWVVKPI6QFGNGVGVJGOGOQT[
GPVGTVQURGGFXCNWGCPFUCXG

=&KCN?
.QPIRTGUU
4GRGCVVJG
CDQXG
RTQEGFWTGU

=&KCN?
.QPIRTGUU
5GNGEV+VGO
VQ/QFKH[
5GV5RGGF
%JCPIG2QKPV
4GVWTPVQ
+PKVKCN
&KURNC[
5GVVKPI +PUVTWEVKQP
#XCKNCDNG
1RVKQPU
1RGTCVKQP&KURNC[
=&KCN?
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
5OGOQT[
5OGOQT[
5㨪5
㨪
㨪
㨪
㨪
㨪
㨪
㨪
5GV(TQPV
&(.GXGN
5GV4GCT
&(.GXGN
4GVTKGXG
/GOQT[VQ
/QFKH[
=/1&'?
5JQTVRTGUU
ZVKOGU
Z
٨5JQTVRTGUUQH=&+52?UYKVEJGUDGVYGGPCXCKNCDNG
FKURNC[QRVKQPU
٨6WTP=&KCN?VQUYKVEJUGNGEVFKURNC[GFKVGOU
YKVJKPVJGQRVKQPCNFKURNC[
*QYVQ5YKVEJ&KURNC[
%NQEM&KURNC[
1RVKQPCN&KURNC[U
QPN[CXCKNCDNGYKVJ)25-KV
8GJKENG5RGGF&KURNC[
1RVKQPCN&KURNC[U
٨=&KCN?.QPIRTGUUVKOGFKHHGTGPEGKPRWV
#HVGTKPRWVNQPIRTGUU=&KCN?VQTGVWTP
,CRCPUVKOGFKHHGTGPEGHTQO76%KUJQWTU
1RVKQPCN)25-KVKUTGSWKTGF
٨5RGGFWPKVECPDGUYKVEJGFDGVYGGPMOJCPF/2*CV
KPKVKCNUGVWR4GHGTVQRI
٨=&KCN?5JQTVRTGUUFKURNC[RGCMURGGF
٨=&KCN?.QPIRTGUUTGUGVRGCMURGGF
5RGGFKUPQVFKURNC[GFYJGP)25TGEGRVKQP
KUPQVIQQF
1RVKQPCN)25-KVKUTGSWKTGF
)(QTEG
٨.GHVUKFGQH.%&)(QTEG
$&GEGNGTCVKQP##EEGNGTCVKQP
٨4KIJVUKFGQH.%&.GHVCPF4KIJV)(QTEG
44KIJVYCTF..GHVYCTF
٨=&KCN?5JQTVRTGUUFKURNC[RGCMXCNWG
6JGNCTIGUV)HQTEGXCNWGUKPFGEGNGTCVKQPNGHVYCTF
CPFCEEGNGTCVKQPTKIJVYCTFYKNNDGFKURNC[GF
CNVGTPCVGN[
٨=&KCN?.QPIRTGUUTGUGVRGCMXCNWG
#EEGNGTCVKQP
)(QTEG
$CT)TCRJ
.GHVYCTF
)(QTEG
$CT)TCRJ
4KIJVYCTF
)(QTEG
$CT)TCRJ
&GEGNGTCVKQP
)(QTEG
$CT)TCRJ
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
㪩㪜㪝
㪩㪜㪝
)25+PHQTOCVKQP&KURNC[
٨.CVKVWFGNQPIKVWFGCPFCNVKVWFGCTGFKURNC[GF
#.6#NVKVWFG7PKVQHCNVKVWFGKUNKPMGFVQWPKVQHURGGF
MOJ//2*HV
'9.QPIKVWFG
05.CVKVWFG

٨=&KCN?5JQTVRTGUUUYKVEJFKURNC[DGVYGGPNQPIKVWFGNCVKVWFGCPFCNVKVWFG
٨
=&KCN?.QPIRTGUUEJCPIGEQQTFKPCVGFKURNC[UFGITGGUFGIOKPQTFGIOKPUGE
'TTQTKP)25KPHQTOCVKQPKUFKURNC[GFCUKU
1RVKQPCN)25-KVKUTGSWKTGF
6TKR/GVGT&KURNC[
٨6TKROGVGTHWPEVKQPDCUGFQP)25KPHQTOCVKQPECPUVQTGWRVQ
TGEQTFUKP6262
٨=&KCN?5JQTVRTGUUUYKVEJVQVJGPGZVVTKRFCVC6262
٨=&KCN?.QPIRTGUUTGUGVVTKRFCVC
'TTQTKP)25KPHQTOCVKQPKUFKURNC[GFCUKU
9JGP)25TGEGRVKQPKUKPVGTTWRVGFVJGU[UVGOECNEWNCVGUVJGVTKRFCVCHTQO
VJGUVTCKIJVNKPGFKUVCPEGDGVYGGPVJGRQUKVKQPUDGHQTGCPFCHVGTVJG
KPVGTTWRVKQP
1RVKQPCN)25-KVKUTGSWKTGF
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
㪩㪜㪝
㪩㪜㪝
㪩㪜㪝
%JCPIKPI%QPVTQN2CTCOGVGTU
*QYVQ%JCPIG/GOQT[5GVVKPIUKP/CPWCN/QFG4GHGTVQRI
*QYVQ/QFKH[)(QTEG%JCPIG2QKPVU4GHGTVQRI
*QYVQ/QFKH[5RGGF%JCPIG2QKPVU4GHGTVQRI
%QOOQP1RGTCVKQPUVQ%JCPIG5GVVKPIU
%JCPIKPI$CUKE5GVVKPIU
*QVVQ6WTP)(QTEG$CT)TCRJ101((
*QYVQ%JCPIG$CT)TCRJ5ECNG
*QYVQ%JCPIGVJG$GGRGT8QNWOG
*QYVQ%JCPIG&KURNC[%QNQT
%JCPIKPI&KURNC[1RGTCVKQP/GPW
*QYVQ%JCPIG$CUKE5GVVKPIU
=&+52?.QPIRTGUU
9JGPUGVVKPIKUEQORNGVGF
٨6QOQXGVQ
QVJGTUGVVKPIOGPW
=&KCN?5JQTVRTGUU
٨6WTP=&KCN?VQUGNGEVHTQOVJGHQNNQYKPI
UGVVKPIOGPWU
)HQTEGDCTITCRJFKURNC[̖̖̖RI
)HQTEGDCTITCRJUECNG̖̖̖̖RI
8QNWOG̖̖̖̖̖̖̖̖̖̖̖̖̖RI
&KURNC[EQNQT̖̖̖̖̖̖̖̖̖̖RI
$TKIJVPGUU̖̖̖̖̖̖̖̖̖̖̖RI
&KOOGT̖̖̖̖̖̖̖̖̖̖̖̖̖RI
.%&XKGY̖̖̖̖̖̖̖̖̖̖̖̖RI
%QTTGEVKQPQH)HQTEG̖̖̖̖̖̖RI
%QPHKTOKPIEQOOWPKECVKQPUVCVWU̖RI
6QEQORNGVGQRGTCVKQPCPFTGVWTPVQKPKVKCN
FKURNC[
=&+52?5JQTVRTGUU

6QTGVWTPHTQOUGVVKPIFKURNC[U
=/1&'?5JQTVRTGUU
=/1&'?=&+52?=&KCN?
.QPIRTGUUUKOWNVCPGQWUN[
٨6WTP=&KCN?VQUGNGEVHTQOVJGHQNNQYKPIUGVVKPIOGPWU
8GJKENGURGGFWPKV̖̖̖̖̖̖̖RI㨪
&CORKPIHQTEGCFLWUVOGPVOQFG̖RI㨯㨪
&TKXGTOQFG̖̖̖̖̖̖̖̖̖̖RI㨪
&TKXGTWPKV̖̖̖̖̖̖̖̖̖̖RI㨪
*QY6Q5GV%WUVQO%QNQT
*QYVQ#FLWUV$TKIJVPGUU
*QYVQ%QPHKTO5VCVWU
6TQWDNGUJQQVKPI
*QYVQ6WTP&KOOGT(WPEVKQP101((
*QYVQ#FLWUV.%&8+'9
4GEQIPK\KPI%QPVTQNNGT+PUVCNNCVKQP#PING㧔%QTTGEVKQPQH)(QTEG&KTGEVKQP㧕
*QVVQ6WTP)(QTEG$CT)TCRJ101((*QVVQ6WTP)(QTEG$CT)TCRJ101((
*QYVQ%JCPIG$CT)TCRJ5ECNG*QYVQ%JCPIG$CT)TCRJ5ECNG
*QYVQ%JCPIGVJG$GGRGT8QNWOG*QYVQ%JCPIGVJG$GGRGT8QNWOG
*QYVQ%JCPIG&KURNC[%QNQT
#XCKNCDNG1RVKQPU &GHCWNV
10
1(( 10
5GVVKPI
+PUVTWEVKQP
1RGTCVKQP&KURNC[
#XCKNCDNG1RVKQPU &GHCWNV5GVVKPI
+PUVTWEVKQP
1RGTCVKQP&KURNC[
=&KCN?
5JQTVRTGUU
=&KCN?
6WTP
=&KCN?
5JQTVRTGUU
=&KCN?
6WTP
81.㧦5GVVKPI1RGTCVKQP5QWPF8QNWOG
81.㧦5GVVKPI%QPVTQN8QNWOGKP)#5#/QFGU
JKIJOGFKWONQYOWVG
JKIJOGFKWONQYOWVG
٨6QVWTP101(()HQTEGDCTITCRJFKURNC[KPOCPWCNOQFGRI##
٨9JGPVJG)HQTEGDCTITCRJKU1((FCORKPIHQTEGNGXGNDCTITCRJ
KUFKURNC[GF
٨6JGUECNGQHDCTITCRJECPDGUGNGEVGFHTQOVJGHQNNQYKPIU
)HQEWUGUQPNQYGTNGXGN
)HQEWUGUYKFGTTCPIG
5GPUKVKXGPGUU))
 
#XCKNCDNG1RVKQPU &GHCWNV5GVVKPI
+PUVTWEVKQP
1RGTCVKQP&KURNC[
=&KCN?
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
㨪 
#FLWUV
8QNWOG
#XCKNCDNG1RVKQPU &GHCWNV5GVVKPI
+PUVTWEVKQP
1RGTCVKQP&KURNC[
#FLWUV
8QNWOG
=&KCN?
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
㨪
*QY6Q5GV%WUVQO%QNQT
*QYVQ#FLWUV$TKIJVPGUU
*QYVQ%QPHKTO5VCVWU
6TQWDNGUJQQVKPI
*QYVQ6WTP&KOOGT(WPEVKQP101((
*QYVQ#FLWUV.%&8+'9
4GEQIPK\KPI%QPVTQNNGT+PUVCNNCVKQP#PING㧔%QTTGEVKQPQH)(QTEG&KTGEVKQP㧕
*QVVQ6WTP)(QTEG$CT)TCRJ101((
*QYVQ%JCPIG$CT)TCRJ5ECNG
*QYVQ%JCPIGVJG$GGRGT8QNWOG
*QYVQ%JCPIG&KURNC[%QNQT
*QYVQ%JCPIG&KURNC[%QNQT
#/#ODGT)4)TGGP$.$NWG9*9JKVG75'4%WUVQO%QNQT
#FLWUV&KURNC[$TKIJVPGUU
5YKVEJ&KURNC[%QNQTU
#FLWUVNWOKPCPEGQHTGFITGGPCPFDNWGVQUGNGEVUGVEWUVQOEQNQT
=&KCN?
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
#XCKNCDNG1RVKQPU &GHCWNV5GVVKPI
+PUVTWEVKQP
1RGTCVKQP&KURNC[
#XCKNCDNG1RVKQPU &GHCWNV5GVVKPI
+PUVTWEVKQP
1RGTCVKQP&KURNC[
#XCKNCDNG1RVKQPU &GHCWNV5GVVKPI
+PUVTWEVKQP
1RGTCVKQP&KURNC[
#/
)4
$.
9*
75'4
9*
*QY6Q5GV%WUVQO%QNQT
*QY6Q5GV%WUVQO%QNQT
*QYVQ#FLWUV$TKIJVPGUU
*QYVQ#FLWUV$TKIJVPGUU
(KTUVFKIKVUQHFKIKVEQNQTEQFGCTGHQTTGFTFVJFKIKVUCTGHQTITGGPCPFNCUVFKIKVU
CTGHQTDNWG
$TKIJVPGUUDTKIJVPQTOCNFCTMWPUGGP
㨪
㨪
#FLWUV
7UGT
%QNQT
5GV7UGT
%QNQT
=&KCN?
.QPIRTGUU
=&KCN?
.QPIRTGUU
=&KCN?
6WTP
5JQTVRTGUU
4GRGCVVJG
CDQXG
RTQEGFWTG
*QYVQ%QPHKTO5VCVWU
6TQWDNGUJQQVKPI
*QYVQ6WTP&KOOGT(WPEVKQP101((
*QYVQ#FLWUV.%&8+'9
4GEQIPK\KPI%QPVTQNNGT+PUVCNNCVKQP#PING㧔%QTTGEVKQPQH)(QTEG&KTGEVKQP㧕
*QVVQ6WTP)(QTEG$CT)TCRJ101((
*QYVQ%JCPIG$CT)TCRJ5ECNG
*QYVQ%JCPIGVJG$GGRGT8QNWOG
*QYVQ%JCPIG&KURNC[%QNQT
#XCKNCDNG1RVKQPU &GHCWNV5GVVKPI
+PUVTWEVKQP
1RGTCVKQP&KURNC[
#XCKNCDNG1RVKQPU &GHCWNV5GVVKPI
+PUVTWEVKQP
1RGTCVKQP&KURNC[
*QY6Q5GV%WUVQO%QNQT
*QYVQ#FLWUV$TKIJVPGUU
*QYVQ%QPHKTO5VCVWU
6TQWDNGUJQQVKPI
*QYVQ6WTP&KOOGT(WPEVKQP101((*QYVQ6WTP&KOOGT(WPEVKQP101((
*QYVQ#FLWUV.%&8+'9*QYVQ#FLWUV.%&8+'9
6JKUHWPEVKQPCWVQOCVKECNN[CFLWUVUDTKIJVPGUUQHVJG.%&CEEQTFKPIVQVJGDTKIJVPGUUQHKVUUWTTQWPFKPIU
10GPCDNGF1((FKUCDNGF
#NNQYVJG)UGPUQTVQTGEQIPK\GKVUCPINGCICKPUVVJGXGJKENG
$GHQTGUVCTVKPIQRGTCVKQPRCTMVJGXGJKENGQPVJGNGXGNUWTHCEGYJGTG[QWECPOQXGVJGXGJKENGO
CRRTQZHVUVTCKIJVHQTYCTF
#UVJGUGPUQTLWFIGUHTQOCEEGNGTCVKQPVJGXGJKENGPGGFUVQJCXGCRRTQZ)
.%&XKGYCPINGECPDGCFLWUVGFHQTDGVVGTXKUKDKNKV[CEEQTFKPIVQVJGEQPVTQNNGTURQUKVKQP
.%&8+'9VJGEQPVTQNNGTKUKPUVCNNGFCVQTCTQWPFG[GNGXGN
.%&8+'9VJGEQPVTQNNGTKUKPUVCNNGFCVNQYGTRQUKVKQP
10
1(( 10
=&KCN?
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
$GHQTGOQXKPIEQPHKTOVJGUCHGV[QHUWTTQWPFKPIEQPFKVKQPU
/QXGVJGXGJKENGUVTCKIJVHQTYCTFITCFWCNN[CEEGNGTCVKPI
5VQRVJGXGJKENGYJGP5612KUUJQYPCPFVJGDGGRGTUQWPFU
YJGPVJGUGPUQTFGVGEVUOQTGVJCP)
4GFQKHVJGXGJKENGFGEGNGTCVGUQTDCEMUWRDGHQTGVJGDGGRGTUQWPFU
#XCKNCDNG1RVKQPU5GVVKPI
+PUVTWEVKQP
1RGTCVKQP&KURNC[
=&KCN?
5JQTVRTGUU
=&KCN?
5JQTVRTGUU
5VQRVJGXGJKENGYJGP
VJGDGGRGTUQWPFU
CHVGTUGEQPFU
#HVGTVJGDGGRGT
OQXGVJGXGJKENG
UVTCKIJVHQTYCTF
㪚㪘㪬㪫㪠㪦㪥
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
4GEQIPK\KPI%QPVTQNNGT+PUVCNNCVKQP#PING4GEQIPK\KPI%QPVTQNNGT+PUVCNNCVKQP#PING%QTTGEVKQPQH)(QTEG&KTGEVKQP%QTTGEVKQPQH)(QTEG&KTGEVKQP
.%&8+'9
.%&8+'9
.%&8+'9
=&KCN?
5JQTVRTGUU
*QVVQ6WTP)(QTEG$CT)TCRJ101((
*QYVQ%JCPIG$CT)TCRJ5ECNG
*QYVQ%JCPIGVJG$GGRGT8QNWOG
*QYVQ%JCPIG&KURNC[%QNQT
*QY6Q5GV%WUVQO%QNQT
*QYVQ#FLWUV$TKIJVPGUU
*QYVQ%QPHKTO5VCVWU*QYVQ%QPHKTO5VCVWU
٨;QWECPEQPHKTOEQOOWPKECVKQPUVCVWUYKVJFTKXGTWPKVU



5GVVKPI 1RGTCVKQP
&KURNC[ +PUVTWEVKQP
=/1&'?
5JQTVRTGUU
=/QFG?
5JQTVRTGUU
ZVKOGU
=/QFG?
5JQTVRTGUU
ZVKOGU
=/QFG?
5JQTVRTGUU
ZVKOGU
0QTOCN
'TTQT(QWPF
&TKXGT
7PTGEQIPK\GF
Z
6TQWDNGUJQQVKPI6TQWDNGUJQQVKPI
&TKXGTWPTGEQIPK\GF
٨%QPHKTOVJCVFTKXGTURQYGTUWRRN[KUEQPPGEVGFRTQRGTN[ψRI
٨%QPHKTOVJCVCNNFTKXGT+&UCTGEQTTGEVN[UGV+HPQVUGVEQTTGEV+&UψRI
٨%QPVTQNNGTFQGUPQVTGEQIPK\GCP[QHFTKXGTWPKVU
ψ6JGTGKUCRQUUKDKNKV[VJCVVJGEQPVTQNNGTHCKNUVQQRGTCVGRTQRGTN[
٨%QPVTQNNGTTGEQIPK\GUFTKXGTWPKVUGZEGRVQPGψ1PGFTKXGTWPKVUOC[PQVDGYQTMKPI
5JQTVEKTEWKVQT&KUEQPPGEVKQP
٨%QPHKTOVJCVCNNFTKXGTWPKVUCPFVJGOQVQTUCTGRTQRGTN[EQPPGEVGF
٨5YKVEJOQVQTUEQPPGEVGFVQ%JCPF%J
ψ+HVJGUCOGGTTQTKUFGVGEVGFVJGFTKXGTWPKVOC[PQVDGQRGTCVKPIRTQRGTN[
ψ+HVJGGTTQTEJCPPGNKUEJCPIGFVJGTGOKIJVDGRTQDNGOKPOQVQTCPFQTVJGYKTKPI
&4KUUJQYPCUUCORNG#EVWCNFTKXGT+&YKVJCP[VTQWDNGUYKNNDGFKURNC[GF
&4KUUJQYPCUUCORNG&4KPFKECVGUFTKXGT+&CPFKUEJCPPGNQT
5JQTV
%KTEWKV
&KUEQPPGEVGF
Z
Z

=/QFG?
5JQTVRTGUU
ZVKOGU
&TKXGT
1XGTJGCVGF
Z
=&KCN?
5JQTVRTGUU
&TKXGT1XGTJGCVGF
٨%JGEMKHVJGFCORKPIHQTEGFKURNC[KU
٨%JGEMKHVJGFTKXGTWPKVUUWTTQWPFKPIUCTGJGCVGF
ψ
+HVJKUQEEWTUQHVGPTGNQECVGVJGFTKXGTWPKVVQYJGTGKVYKNNPQVDGGZRQUGFVQJKIJVGORGTCVWTG
٨%JGEMKHVJGFTKXGTWPKVKVUGNHKUJGCVGF&Q016VQWEJVJGWPKVYKVJDCTGJCPFUVQRTGXGPVDWTPU
6QQRGTCVGCICKPVWTPQHHVJGRQYGTYCKVWPVKNVJGFTKXGTWPKVCPFKVUUWTTQWPFKPIUCTG
EQQNGFFQYPCPFVJGPVWTPVJGRQYGTDCEMQP
+VKUPQTOCNHQTVJGFTKXGTWPKVVQIGVJGCVGFFWGVQHTGSWGPVOQVQTTQVCVKQPWPFGT
EGTVCKPUGVVKPIU
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
㪩㪜㪝
*QYVQ6WTP&KOOGT(WPEVKQP101((
*QYVQ#FLWUV.%&8+'9
4GEQIPK\KPI%QPVTQNNGT+PUVCNNCVKQP#PING㧔%QTTGEVKQPQH)(QTEG&KTGEVKQP㧕
9JCV6Q&Q9JGP;QW'PEQWPVGTGF2TQDNGOU
+PECUGQHCP[VTQWDNGEJGEMVJGHQNNQYKPIU+HVJGVTQWDNGKUPQVUQNXGFRNGCUGEQPVCEVVJGPGCTGUV
6'+0QHHKEGNKUVGFQPVJGHTQPVEQXGTQHVJKUOCPWCN
2QYGTFQGUPQVVWTP10
٨%JGEMKHVJGEQPVTQNNGTCPFVJGEQPPGEVQTQHRQYGTUWRRN[HKNVGTCTGHKTON[EQPPGEVGFψRI
٨%JGEMKHVJGRQYGTUWRRN[HKNVGTUHWUGJCUDNQYP
٨%JGEMKHVJGRQYGTUWRRN[HKNVGTUKURTQRGTN[EQPPGEVGFψRI
٨%JGEMVJGDTKIJVPGUUQH.%&+HVJGDTKIJVPGUUKUUGVVQFKURNC[KUDCTGN[XKUKDNG
ψRI
$WVVQPUFQ016YQTM
٨+UVJGNQEMHWPEVKQPQP!ψRI
&TKXGTWPKVUKUCTGPQVTGEQIPK\GF
٨%JGEMFTKXGTWPKVUEQOOWPKECVKQPUVCVWUψRI
٨%JGEMKHVJGFTKXGTWPKVKURTQRGTN[EQPPGEVGFVQVJGRQYGTUQWTEGψRI
٨%JGEMKHVJGFTKXGTWPKVUHWUGJCUDNQYP
٨%JGEMKHVJGFTKXGT+&UCTGKPRWVEQTTGEVN[ψRI
%QPVTQNNKPIHTQPVFCORKPIHQTEGEJCPIGUTGCTFCORKPIHQTEGQTXKEGXGTUC
٨%JGEMKHVJGFTKXGT+&UCTGPQVGPVGTGFVJGYTQPIYC[CTQWPFψRI
٨%JGEMKHVJGFTKXGTOQFGKUUGVEQTTGEVN[ψRI
5RGGFENQEMNCVKVWFGNQPIKVWFGCPFQTCNVKVWFGCTGPQVFKURNC[GF
٨%JGEMKH)25MKVKUEQPPGEVGFRTQRGTN[ψRI
٨+U)25TGEGKXKPIXCNKFUKIPCNU!
ψ9JGP)25KEQPޓޓޓޓޓKUDNKPMKPIUKIPCNUCTGYGCMQTWPCXCKNCDNGRI
٨4QCFUKFGVTGGUCPFQTVCNNDWKNFKPIUDGUKFGUVWPPGNUOC[KPVGTHGTGYKVJQTKPVGTTWRV)25UKIPCNU
%NQEMUJQYUYTQPIVKOG
٨*CXG[QWUGVVKOGFKHHGTGPEGEQTTGEVN[!ψRI%NQEM&KURNC[
&CORKPIHQTEGNGXGNFQGUPQVEJCPIGVJQWIJVJGXGJKENGURGGFKUKPETGCUKPI
٨+U)25GHHGEVKXG!
٨%JGEMKH)25MKVKUEQPPGEVGFRTQRGTN[ψRI
٨+U5#QT5.OQFGUGNGEVGF!ψRI
٨*CXG[QWKPRWV5#OQFGUGVVKPIU!ψRI
٨#TG[QWFTKXKPIHCUVGTVJCPVJGURGGFUGVKP5!ψRI
&CORKPIHQTEGNGXGNFQGUPQVEJCPIGCU[QWUGV
٨*CXG[QWUGVVJGOGOQTKGUEQTTGEVN[!
ψ6JGTGCTGUGRCTCVGOGOQT[RCVVGTPUCXCKNCDNGCEEQTFKPIVQURGGFQT)HQTEG
ψRI*QYVQ%JCPIG%QPVTQN/QFGU
٨*CXG[QWKPRWVVJGUGVVKPIUKPGCEJOGOQT[CUFGUKTGF!
ψ)(QTEG%JCPIG2QKPVURI5RGGF%JCPIG2QKPVURI
5RGGFFKURNC[GFQP.%&KUPQVYJGPVJGECTKURCTMGFQTFQGU016OCVEJVJGXGJKENGUURGGFQOGVGT
٨&GRGPFKPIQP)25TGEGRVKQPURGGFOC[PQVDGECNEWTCVGFEQTTGEVN[
٨+PIGPGTCNXGJKENGUURGGFQOGVGTTGCFUHCUVGTVJCPVJGCEVWCNURGGF
5RGGFFKURNC[GFKPVJKURTQFWEVKUHQTTGHGTGPEGQPN[#NYC[UFTKXGCEEQTFKPIVQXGJKENGU
URGGFQOGVGT
)HQTEGFKURNC[GFQP.%&KUPQVYJGPVJGECTKURCTMGF)HQTEGXCNWGKUYTQPI
٨&KF[QWEQTTGEV)HQTEGQPCNGXGNUWTHCEG!ψRI
٨+UVJGXGJKENGRCTMGFQPCNGXGNUWTHCEG!ψKHPQVVJG)UGPUQTOC[FGVGEV)HQTEG
٨&KFPV[QWDTCMGUWFFGPN[CPFVJGXGJKENGKUUVQRRGFPQPJQTK\QPVCNN[!
ψ4GNGCUGDTCMGUNQYN[VQOCMGVJGXGJKENGJQTK\QPVCN
٨+UVJGEQPVTQNNGTWPKVKPUVCNNGFCVCPCPING!
ψ#FLWUVVJGEQPVTQNNGTWPKVUQVJGUETGGPKUHCEKPIYKVJKPFGITGGUVQVJGQRRQUKVGFKTGEVKQPQH
VTCXGNDQVJJQTK\QPVCNN[CPFXGTVKECNN[
㪚㪘㪬㪫㪠㪦㪥
/QVQTGOKVUUQWPFU
٨
+VKUPQTOCNVJCV[QWJGCTVJGOQVQTUQRGTCVKPIUQWPFYJGPFCORKPIHQTEGKUDGKPICFLWUVGF6JGXQNWOG
QHVJGUQWPFXCTKGUD[XGJKENG
٨
+VKUCNUQPQTOCNVJCV[QWOC[JGCTCUOCNNUQWPFYJGPVJGRTQFWEVKUQRGTCVKPIVQMGGRVJGCRRTQRTKCVG
FCORKPIHQTEGNGXGNGXGPYJGPVJGCFLWUVOGPVKUPQVDGKPIOCFG
&KURNC[FCORKPIHQTEGNGXGNFQGUPQVTGCEVKPUVCPVN[VQFKCNQRGTCVKQPFCORKPIHQTEGCFLWUVOGPV
٨
.%&OKIJVDGUNQYVQTGURQPFKPNQYVGORGTCVWTGUWTTQWPFKPIUUWEJCUUWD\GTQVGORGTCVWTG6JKUKU
PQTOCNCPFFQGUPQVCHHGEVVJGQRGTCVKQPQHOQVQTU
٨
/QVQTUOKIJVCNUQDGUNQYVQTGCEVWPFGTGZVTGOGEQNFDWVKVYKNNKORTQXGQPEGVJGVGORGTCVWTGKU
TCKUGF
/QVQTUCTGUNQYVQTGCEVTKIJVCHVGTVJGGPIKPGKUUVCTVGF
٨
+VKUPQTOCNHQTVJGFTKXGTWPKVUCPFOQVQTUVQVCMGNQPIGTVKOGVQEQOOWPKECVGQPUVCTVWRKPNQY
VGORGTCVWTGGPXKTQPOGPVUWEJCUUWD\GTQVGORGTCVWTG
'TTQT&KURNC[
9JGPVJGU[UVGOFGVGEVUCUJQTVEKTEWKVCPGTTQTFKURNC[EQOGUQPHQTEKDN[
GXGT[UGEQPFU
&4KPFKECVGUFTKXGT+&CPFKUEJCPPGNQT
٨6QECPEGNVJGGTTQTVWTPVJGRQYGTQHHQPEGCPFVWTPKVDCEMQPCICKP
/QVQTTQVCVGUD[KVUGNHCPFQTOCNHWPEVKQPU
٨2CTKPICUKPINGFTKXGT+&YKVJOWNVKRNGEQPVTQNNGTWPKVUOKIJVECWUGHCNUGQRGTCVKQP%CPEGNVJG
KPEQTTGEVRCTKPIUGVVKPICPFTGUGVYKVJVJGEQTTGEVFTKXGT+&4GHGTVQRI
&TKXGTUKUCTGRCKTGFKPEQTTGEVN[
٨1PEGRCKTGFCFTKXGTWPKVDGEQOGUWPUGCTEJCDNG+PRWVFTKXGT+&UOCPWCNN[QTTGUGVECPEGNVJG
RCTKPIUGVVKPIUVQUGCTEJFTKXGT+&UCICKP4GHGTVQRI
6QTGUGVFTKXGTRCTKPIUGVVKPIUFKUEQPPGEV2EQPPGEVQTUEQPPGEV2EQPPGEVQTVQRQYGT
UWRRN[CPFMGGRKVEQPPGEVGFHQTCVNGCUVUGEQPFU1PEGTGUGVFTKXGTWPKVUECPDGUGCTEJGF
HTQOVJGEQPVTQNNGTWPKV
2FKUEQPPGEVGF
2EQPPGEVGFVQRQYGT
㪚㪦㪥㪝㪠㪩㪤㪘㪫㪠㪦㪥
=.KOKVGF9CTTCPV[?
5WDLGEVVQVJGVGTOUQHVJG.KOKVGF9CTTCPV[UGVHQTVJDGNQY6'+0YCTTCPVUVJCV'&(%#%6+8'
HQTVJGVKOGRGTKQFUVCVGFDGNQYVQVJGQTKIKPCNRWTEJCUGTHQTVJGWUGCICKPUVFGHGEVUKP
OCVGTKCNCPFQTYQTMOCPUJKRYJGPKPUVCNNGFVQCPFWUGFQPVJGRCUUGPIGTXGJKENGUCEEQTFKPI
VQKPUVTWEVKQPUYCTPKPIUCPFECWVKQPUFGUETKDGFKPVJKUOCPWCNCPFWPFGTPQTOCNQRGTCVKPI
EQPFKVKQPU+HVJGFGHGEVKUHQWPFWPFGTUWEJEQPFKVKQPU6'+0UJCNNTGRCKTQTTGRNCEGVJG
RTQFWEVHTGGQHEJCTIG9KVJVJGTGIKUVGTKPIQHVJGRTQFWEVKUUWKPIQHVJG9CTTCPV[%GTVKHKECVG
UJCNNPQVKPCP[YC[NKOKVVJGNGICNTKIJVQHVJGRWTEJCUGT6JKU.KOKVGF9CTTCPV[KUXQKF
KHCP[QHVJGGZGORVKQPUUGVHQTVJGDGNQYCRRNKGUGXGPYKVJKPVJGYCTTCPV[RGTKQFUVCVGFDGNQY
6JQWIJCNNVJGRQUUKDNGOGCUWTGUVCMGP6'+0CUUWOGU01TGURQPUKDKNKV[HQTCP[ENGTKECNGTTQT
KPENWFKPIDWVPQVNKOKVGFVQOKURTKPVKPICPFQTQOKUUKQPKPVJGEQPVGPVUQHVJGECVCNQIU
RWDNKUJGFD[6'+0
6'+0TGUGTXGUVJGTKIJVVQTGXKUGVJG.KOKVGF9CTTCPV[YKVJQWVPQVKEGYJGPGXGTVJGPGGFCTKUG
5JQWNFUWEJTGXKUKQPKUOCFG6'+0UJCNNRTQXKFGVJG.KOKVGF9CTTCPV[VQVJGRWTEJCUGTCEEQTFKPI
VQVJGTGXKUGFVGTOU
6'+0KPCP[GXGPVUJCNNPQVDGJGNFNKCDNGVQVJGRWTEJCUGTHQTGEQPQOKENQUUEQORGPUCVQT[
KPEKFGPVCNEQPUGSWGPVKCNQTRWPKVKXGFCOCIGUHQTNQUVRTQHKVUFQYPVKOGNQUVRTQFWEVKQP
QTFGHGEVUKPRWTEJCUGTUOCVGTKCNQTYQTMOCPUJKRCPFQTHQTNCDQTQTUJKRRKPIEJCTIGUCTKUKPI
FKTGEVN[QTKPFKTGEVN[HTQOVJGWUGQHVJGRTQFWEVKPENWFKPIDWVPQVNKOKVGFVQHWPEVKQPCN
HCKNWTGUKPQVJGTGNGEVTQPKECRRNKCPEGUHKTGUCPFQVJGTCEEKFGPVU
=6GTOUCPF%QPFKVKQPU?
2TQXKFGFVJCVVJGRTQFWEVKUKPUVCNNGFCPFWUGFWPFGTVJGPQTOCNEQPFKVKQP6'+0UJCNNTGRCKTQT
TGRNCEGVJGRTQFWEVHTGGQHEJCTIGKHVJGFGHGEVKUHQWPF
6GTOU(QTVJGRGTKQFQHQPG[GCTHTQOVJGFCVGQHRWTEJCUG

6JGRTQFWEVUJCNN016DGEQXGTGFD[VJGYCTTCPV[KHCP[QHVJGEQPFKVKQPUUGVHQTVJJGTGWPFGTCRRNKGU
=&KUENCKOGTVJGRTQFWEVOC[DGTGRCKTGFHQTCHGGKHTGSWGUVGF?
6JGRTQFWEVKUTGHQTOGFQTOQFKHKGFKPCP[YC[D[VJGRWTEJCUGTVJGKPUVCNNGTQTVJGYQTMUJQR
&COCIGQTFGHGEVECWUGFFKTGEVN[QTKPFKTGEVN[D[FTQRRKPIVJGRTQFWEVCEEKFGPVPCVWTCN
FKUCUVGTCDPQTOCNXQNVCIGCPFQTVJGWUGQHRQYGTPQVURGEKHKGFD[6'+0&GHQTOCVKQPQHEQPVTQNNGT
CPFQT.%&HCKNWTGECWUGFFKTGEVN[QTKPFKTGEVN[D[GZRQUWTGVQFKTGEVUWPNKIJV
&COCIGQTFGHGEVECWUGFFWTKPIKPUVCNNCVKQPCPFQTTGOQXCNRTQEGUU

6JGRTQFWEVKUKPUVCNNGFQTWUGFKPEQTTGEVN[QTKPUVTWEVKQPUCPFYCTPKPIUCTGKIPQTGFQTXKQNCVGF
&COCIGQTFGHGEVCTKUKPIHTQOVJGEQODKPGFWUGQHVJGRTQFWEVYKVJVJGQVJGTOCPWHCEVWTGU
RTQFWEVU
9QTMQTLQDKPENWFKPIDWVPQVNKOKVGFVQVJGRGTHQTOCPEGVGUVQHVJGRTQFWEVTGSWGUVGFD[
VJGRWTEJCUGT
&COCIGQTFGHGEVECWUGFD[TWUVCPFQTEQTTQUKQPFWGVQEQPVCEVYKVJUCNVYCVGTUPQYOGNVKPI
CIGPVCPFUWEJ
&COCIGFGHGEVQTFGVGTKQTCVKQPCHVGTVJGGZRKTCVKQPQHVJGYCTTCPV[VGTO
='ZENWUKQPUVJGYCTTCPV[KUXQKFQTPQVCRRNKECDNG?
7PCXQKFCDNGPQKUGFWGVQVJGEJCTCEVGTKUVKEUQHVJGRTQFWEVKPENWFKPIDWVPQVNKOKVGFVQ
VJGUQWPFIGPGTCVGFD[VJGOQVQT
6JGRTQFWEVKUWUGFHQTQHHTQCFRWTRQUGUCPFQTTCEKPIV[RGEQORGVKVKQPUQTCEVKXKVKGU
6JGRTQFWEVKUPQVTGIKUVGTGF6JGRWTEJCUGTECPPQVRTQXKFGVJGYCTTCPV[EGTVKHKECVG
&KHHGTGPEGHTQOPGYGT6'+0RTQFWEVUFWGVQRTQFWEVKORTQXGOGPVU
'EQPQOKENQUUEQORGPUCVQT[KPEKFGPVCNEQPUGSWGPVKCNQTRWPKVKXGFCOCIGUHQTNQUVRTQHKVU
FQYPVKOGNQUVRTQFWEVKQPQTFGHGEVUKPRWTEJCUGTUOCVGTKCNQTYQTMOCPUJKRCPFQTHQTNCDQT
QTUJKRRKPIEJCTIGUCTKUKPIFKTGEVN[QTKPFKTGEVN[HTQOVJGWUGQHVJGRTQFWEV
&COCIGVQQTKPVGTHGTGPEGYKVJVJGOQVQTCTKUKPIHTQOVJGEQODKPGFWUGQHVJGRTQFWEVYKVJ
VJGQVJGTOCPWHCEVWTGTUDQPPGVJQQFCPFQTUVTWVVQYGTDCTU
&COCIGQTFGHGEVFWGVQQXGTVKIJVGPKPIQHOQVQTCVCDQXGVJGURGEKHKGFVQTSWG
%NGTKECNGTTQTKPENWFKPIDWVPQVNKOKVGFVQOKURTKPVKPICPFQTQOKUUKQPKPVJGEQPVGPVUQH
VJGECVCNQIUQTOCPWCNURWDNKUJGFD[6'+0

6JGVGTOUCPFEQPFKVKQPUQHVJGYCTTCPV[CTGPQNQPIGTGHHGEVKXGFWGVQVJGTGXKUKQPOCFGD[6'+0
ޣᩣᑼળ␠࠹ࠗࡦޤ
6'+0+0%㧚
(QT,CRCP#UKCGZEGRVOCKPNCPF%JKPC
1EGCPKC/KFFNG'CUV4WUUKCCPF#HTKEC
6'+00+0%㧚%㧚
-COK[CDGEJQ6QVUWMCMW
;QMQJCOCUJK-CPCICYC,CRCP
2JQPG㧦
(CZ㧦
74.㧦JVVRYYYVGKPEQLR
6'+075#+0%㧚 6'+07-.+/+6'&
ϛϔѻકߎ⦄䯂乬៪ᇍᴀкݙᆍ᳝ϡᯢП໘ˈ
䇋㘨㒰ᴀ݀ৌDŽ
໽ᕵ䖰ϰ೑䰙䌌ᯧ  ࣫Ҁ  ᳝䰤݀ৌ
ޣᩣᑼળ␠࠹ࠗࡦޤ
(QT0QTVJ%GPVTCNCPF5QWVJ#OGTKEC
6'+075#075#+0%㧚%㧚
(KTGUVQPG$NXF&QYPG[%#75#
2JQPG㧦
(CZ㧦
74.㧦JVVRYYYVGKPEQO
'OCKNVWUAUCNGU"VGKPEQO
(QT7-'WTQRGCPF6WTMG[
6'+07-.+/+6'&07-.+/+6'&
7PKV#XCPV$WUKPGUU%GPVTG
&GPDKIJ9GUV+PFWUVTKCN'UVCVG
/KNVQP-G[PGU/-&.7PKVGF-KPIFQO
2JQPG㧦
(CZ㧦
74.㧦JVVRYYYVGKPEQWM
'OCKNUCNGU"VGKPEQWM
ϛϔѻકߎ⦄䯂乬៪ᇍᴀкݙᆍ᳝ϡᯢП໘
ϛϔѻકߎ⦄䯂乬៪ᇍᴀкݙᆍ᳝ϡᯢП໘ˈˈ
䇋㘨㒰ᴀ݀ৌDŽ䇋㘨㒰ᴀ݀ৌDŽ
໽ᕵ䖰ϰ೑䰙䌌໽ᕵ䖰ϰ೑䰙䌌ᯧᯧҀҀ᳝䰤݀ৌ᳝䰤݀ৌ
ഄഔ˖ᑓᎲᏖ㢅䛑ऎᮄढ㸫䬰␪໻䘧  ো
೑ܝᎹϮು  ো䮼໪ሩख़  ো
⬉䆱˖
Ӵⳳ˖
㔥ഔ˖JVVREPVGKPEQO
ޣᩣᑼળ␠࠹ࠗࡦޤ
6'+0+0%㧚
6'+075#+0%㧚 6'+07-.+/+6'&
ϛϔѻકߎ⦄䯂乬៪ᇍᴀкݙᆍ᳝ϡᯢП໘ˈ䇋㘨㒰ᴀ݀ৌDŽ
໽ᕵ䖰ϰ೑䰙䌌ᯧ  ࣫Ҁ  ᳝䰤݀ৌ
ع0COGQH2TQFWEV'&(%#%6+8''NGEVTQPKE&CORKPI(QTEG%QPVTQNNGT#EVKXG
ع#RRNKECVKQP%QPVTQNNKPIVJGFCORKPIHQTEGHTQOVJGFTKXGTUUGCV
ع8GJKENGVQDGKPUVCNNGF6JGXGJKENGUURGEKHKGFD[6'+0CPFVJGXGJKENGU
GSWKRRGFYKVJUJQEMCDUQTDGTUURGEKHKGFD[6'+0PGICVKXGITQWPF8&%
ع%QPFKVKQPU1RGTCVKQPYJKNGVJGXGJKENGKUUVQRRGF
ع2QYGT%QPUWORVKQP
CEEGUUQT[RQYGTUWRRN[1((O#
CEEGUUQT[RQYGTUWRRN[10YQ)25-KVO#
CEEGUUQT[RQYGTUWRRN[10Y)25-KVO#
KHFTKXGTUCTGEQPPGEVGFVQEQPUVCPVRQYGTUWRRN[1((O#
◲ᤃᠲ૞ࡑ࠾ࡘࠕ࡞ߪ៤Ꮺ↪ߦ૶↪㗫ᐲߩᄙ޿⸳ቯࠍᛮ☴ߒߚ߽ߩߢߔޕ
ᧄᦠࠍゞਔߦ៤Ꮺߒߥ޿႐วޔᧄࡍ࡯ࠫᏀ஥ߩὐ✢ಾࠅขࠅ✢ߦᴪߞߡࠞ࠶࠻ߒߡ៤Ꮺߔࠆߎߣࠍ೨ឭߣ
ߒߡ߅ࠅ߹ߔߩߢޔᔅⷐߦᔕߓߡߏ೑↪ਅߐ޿ޕ
࡮ࠗࡦࠬ࠻࡯࡞✬
࠼࡜ࠗࡃࠍ୘૶↪ߔࠆ႐วߩߺޕߘߩઁߩ႐วߪขᛒ⺑᣿ᦠ2߆ࠄߩ⸳ቯࠍෳᾖߒߡਅߐ޿ޕ
̪ᠲ૞ߦ౉ࠆ೨ߦޔ੐೨ߦ⸥㍳ߒߚ࠼࡜ࠗࡃ+&ࠍ߅ᚻరߦߏ↪ᗧਅߐ޿ޕ
ᠲ૞⺑᣿ ㆬᛯ㗄⋡ᠲ૞ౝኈ
ޟ࠳ࠗࡗ࡞ޠ
⍴᛼ߒ
ޟ࠳ࠗࡗ࡞ޠ
⍴᛼ߒ
ޟ࠳ࠗࡗ࡞ޠ
⍴᛼ߒ
ޟ࠳ࠗࡗ࡞ޠ
⍴᛼ߒ
ޟ࠳ࠗࡗ࡞ޠ
⍴᛼ߒ
ޟ࠳ࠗࡗ࡞ޠ
࿁ォ
㧗⍴᛼ߒ
ޟ࠳ࠗࡗ࡞ޠ
࿁ォ
㧗⍴᛼ߒ
ࡉࠩ࡯㖸߇
㡆ߞߚᓟ
⌀⋥ߋ೨ㅴ
̪
ࡈࡠࡦ࠻ߩ
࠼࡜ࠗࡃ+&ࠍ
ㆬ߱
࡝ࠕߩ࠼࡜
ࠗࡃ+&ࠍ
ㆬ߱
̪㧦๟࿐ߩ⁁ᴫࠍ⏕⹺ߒޔ቟ోߥߎߣࠍ⏕⹺ߒߚ਄ߢ⌀ߞ⋥ߋ೨ㅴߒ߹ߔޕ
ޓޓޓࡉࠩ࡯㖸߇㡆ߞߚࠄ஗ᱛ㧔)એ਄ࠍᗵ⍮ߢ⚳ੌ㧕
ޓޓޓࡉࠩ࡯㖸ߩ೨ߦᷫㅦߒߚ႐ว߿ޔᓟㅌߒߚ႐วߪ߿ࠅ⋥ߒߡਅߐ޿ޕ
ゞਔࠍ᳓ᐔߥ⁁ᘒߦߢ߈ޔ߆ߟ⌀ߞ⋥ߋ೨ㅴߢ߈ࠆ႐ᚲࠍㆬࠎߢ஗ゞߒߚߩߜ૞ᬺࠍ㐿ᆎߔࠆޕ
⸳ቯ㗄⋡ ⴫␜↹㕙
࠼࡜ࠗࡃ
ࡍࠕ࡝ࡦࠣ
ᠲ૞↹㕙ߦ
ᚯࠆ
࡮5GVWR
٨
1PN[HQTVJGWUGQHFTKXGTU(QTQVJGTECUGUTGHGTVQUGVWRRTQEGFWTGUUVCTVKPIHTQORI
KPVJGOCPWCN
٨$GHQTGUVCTVKPIQRGTCVKQPJCXG[QWTFTKXGT+&UTGCF[
$GHQTGOQXKPIEQPHKTOVJGUCHGV[QHUWTTQWPFKPIEQPFKVKQPU/QXGVJGXGJKENGUVTCKIJVHQTYCTF
ITCFWCNN[CEEGNGTCVKPI
5VQRVJGXGJKENGYJGP5612KUUJQYPCPFVJGDGGRGTUQWPFUYJGPVJGUGPUQTFGVGEVUOQTGVJCP)
4GFQKHVJGXGJKENGFGEGNGTCVGUQTDCEMUWRDGHQTGVJGDGGRGTUQWPFU
6JKUIWKFGUJQYUOQUVHTGSWGPVN[RGTHQTOGFQRGTCVKQPUGZGTVGFHTQOVJGOCPWCN+PECUGVJGOCPWCN
KUPQVMGRVYKVJVJGECTEWVQWVVJKURCIGCNQPIVJGFQVVGFNKPGCPFECTT[HQTSWKEMTGHGTGPEG
#XCKNCDNG1RVKQPU
1RGTCVKQP
5GNGEV(V
&TKXGT+&
5GNGEV4T
&TKXGT+&
$GHQTGUVCTVKPIQRGTCVKQPRCTMVJGXGJKENGQPVJGNGXGNUWTHCEGYJGTG[QWECPOQXGVJG
XGJKENGOCRRTQZHVUVTCKIJVHQTYCTF
5GVVKPI &KURNC[
&TKXGT
2CKTKPI
4GVWTPVQ
+PKVKCN
&KURNC[
=&KCN?
5JQTVRTGUU
=&KCN?
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
6WTP
5JQTVRTGUU
=&KCN?
5JQTVRTGUU
5VQRVJGXGJKENGYJGP
VJGDGGRGTUQWPFU
CHVGTUGEQPFU
#HVGTVJGDGGRGT
OQXGVJGXGJKENG
UVTCKIJVHQTYCTF
=&KCN?
5JQTVRTGUU
+PUVTWEVKQP

Navigation menu