Fisher Paykel Washer GWL12 User Manual

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GWL12, GWM12, GWC12, MWC12  
Clothes Washer  
Installation instructions and  
User guide EN  
New Zealand  
Australia  
USA  
Canada  
Europe  
Asia  
Pacific  
 
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MFTTꢁXBUFSꢁUIBOꢁUIFꢁUSBEJUJPOBMꢁ8BUFSꢁ4BWFSꢁSJOTFꢆ  
 
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3FNPWJOHꢀUIFꢀ1BDLBHJOH  
ꢀꢁ 3FNPWFꢁUIFꢁPVUFSꢁQBDLBHJOHꢆꢁ  
ꢂꢁ 5JMUꢁUIFꢁNBDIJOFꢁCBDLXBSETꢁBOEꢁXBMLꢁJUꢁPGGꢁUIFꢁ  
CPUUPNꢁQBDLFSꢁPOFꢁGPPUꢁBUꢁBꢁUJNFꢆ  
ꢃꢁ 3FNPWFꢁUIFꢁCPUUPNꢁQBDLFSꢁGSPNꢁVOEFSꢁUIFꢁ  
NBDIJOFꢁCZꢁQVMMJOHꢁJUꢁPVUꢁUIFꢁGSPOUꢆ  
ꢄꢁ -JGUꢁUIFꢁMJEꢁBOEꢁSFNPWFꢁUIFꢁCPXMꢁQBDLFSꢁGSPNꢁ  
UIFꢁCPXMꢆ  
ꢅꢁ 3FNPWFꢁUIFꢁIPTFTꢁBOEꢁBDDFTTPSJFTꢆ  
ꢆꢁ ,FFQꢁUIFꢁCPUUPNꢁQBDLFSꢁBOEꢁCPXMꢁQBDLFSꢁJOꢁ  
DBTFꢁUIFZꢁBSFꢁSFRVJSFEꢁGPSꢁGVUVSFꢁUSBOTJUꢆ  
1MFBTFꢀFOTVSFꢀUIBUꢀUIFꢀCPUUPNꢀQBDLFSꢀIBTꢀCFFOꢀSFNPWFEꢀCFGPSFꢀPQFSBUJOHꢀZPVSꢀNBDIJOFꢁꢀ  
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N
 ꢈꢁIPTFꢁHVJEFꢆ  
N
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*OMFUꢀ)PTF  
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.BDIJOFꢁFOE  
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PGꢁUIFꢁNBDIJOFꢁCZꢁQVMMJOHꢁUIFꢁFYQPTFEꢁQBSUꢁPGꢁUIFꢁ  
IPTFꢁEPXOXBSETꢁBOEꢁPVUXBSETꢆ  
 5IFꢁESBJOꢁIPTFꢁDBOꢁCFꢑ  
N
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N
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 8IFOꢁDPOOFDUJOHꢁUIFꢁESBJOꢁIPTFꢁUPꢁBꢁUVCꢁPSꢁ  
TUBOEQJQFꢅꢁVTFꢁUIFꢁIPTFꢁHVJEFꢅꢁJODMVEFEꢁJOꢁUIFꢁ  
BDDFTTPSZꢁLJUꢅꢁUPꢁHVJEFꢁUIFꢁESBJOꢁIPTFꢁPWFSꢁUIFꢁUVCꢁPSꢁ  
JOUPꢁUIFꢁTUBOEQJQFꢆꢁ5IFꢁESBJOꢁIPTFꢁTIPVMEꢁOPUꢁFYUFOEꢁ  
NPSFꢁUIBOꢁꢀꢃNNꢁGSPNꢁUIFꢁFOEꢁPGꢁUIFꢁHVJEFꢁ UIJTꢁJTꢁUPꢁ  
QSFWFOUꢁTZQIPOJOHꢒꢆꢁ*GꢁOFDFTTBSZꢁUIFꢁESBJOꢁIPTFꢁDBOꢁ  
CFꢁUSJNNFEꢁUPꢁMFOHUIꢆ  
%SBJOꢁIPTFꢁDPOOFDUFEꢁꢁ  
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VTJOHꢁBOꢁBOUJTZQIPOꢁWFOUꢁQJQFꢆꢁ5IJTꢁJTꢁBꢁTIPSUꢁ  
TUBOEQJQFꢁ ꢍꢃꢃNNꢁMPOHꢁBOEꢁꢍꢃNNꢁJOꢁEJBNFUFSꢒꢁ  
BUUBDIFEꢁUPꢁUIFꢁCBDLꢁPGꢁUIFꢁNBDIJOFꢆ  
7FOUꢁQJQFꢁUPꢁ  
CFꢁMFWFMꢁXJUIꢁ  
IPTFꢁPVUMFU  
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/PUFꢂꢀ  
6TFꢁBOꢁBEIFTJWFꢁUPꢁBUUBDIꢁUIFꢁWFOUꢁQJQFꢁUPꢁUIFꢁCBDLꢁ  
PGꢁUIFꢁNBDIJOFꢆꢁ%PꢁOPUꢁVTFꢁTDSFXTꢁBTꢁUIFZꢁNBZꢁ  
EBNBHFꢁJOUFSOBMꢁQBSUTꢆ  
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ESBJOꢁIPTFꢁPVUMFUꢆ  
4ZQIPOJOHꢀNBZꢀPDDVSꢀJGꢀUIFꢀESBJOꢀIPTFꢀJTꢀQPTJUJPOFE  
UPPꢀMPXꢀPSꢀDPOOFDUFEꢀEJSFDUMZꢀUPꢀBꢀGMPPSꢀESBJOꢁꢀ5IJTꢀ  
NBZꢀSFTVMUꢀJOꢀBꢀVTFSꢀXBSOJOHꢀ SFGFSꢀQBHFꢀꢂꢂꢃꢁ  
%SBJOꢁIPTFꢁDPOOFDUFEꢁ  
UPꢁBꢁGMPPSꢁESBJOꢁVTJOHꢁBOꢁ  
BOUJTZQIPOꢁWFOUꢁQJQF  
"DDFTTPSJFTꢀBOEꢀ4QBSFꢀ1BSUT  
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1BSUꢁ/PꢆꢁꢍꢀꢌꢐꢀꢂQ  
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FOTVSFꢁFWFOꢁTQJOꢁQFSGPSNBODFꢆ  
4FQBSBUFꢁUIFꢁꢍꢁSVCCFSꢁGPPUꢁJOTFSUTꢁGSPNꢁUIFꢁ  
NPVMEJOHꢁBOEꢁGJUꢁJOUPꢁUIFꢁGFFUꢁPOꢁUIFꢁCBTFꢁPGꢁ  
UIFꢁNBDIJOFꢆ  
"EKVTUBCMFꢁGFFUꢁ  
3VCCFSꢁJOTFSU  
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8FꢁTVHHFTUꢁBꢁNJOJNVNꢁDMFBSBODFꢁPGꢁꢁ  
ꢀꢃNNꢁFBDIꢁTJEFꢒꢆ  
"EKVTUꢁUIFꢁGFFUꢁTPꢁUIFꢁNBDIJOFꢁJTꢁMFWFMꢁBOEꢁ  
DBOOPUꢁSPDLꢆ  
5Pꢀ$IFDLꢀJGꢀ:PVSꢀ.BDIJOFꢀJTꢀ-FWFMꢂ  
-PPLꢁEPXOꢁPOꢁUIFꢁXBTIꢁCPXMꢁBOEꢁNBLFꢁTVSFꢁ  
JUꢁTJUTꢁTMJHIUMZꢁGPSXBSEꢁPGꢁDFOUSFꢁ TFFꢁEJBHSBNꢒꢆ  
 $MPTFꢁUIFꢁMJEꢆꢁ7JTVBMMZꢁDIFDLꢁUIBUꢁUIFꢁMJEꢁGJUTꢁ  
FWFOMZꢁPOꢁCPUIꢁTJEFTꢆ  
*ODPSSFDUꢁ  
5PꢁDIFDLꢁMFWFMMJOHꢁMPPLꢁEPXOꢁPOꢁUIFꢁXBTIꢁCPXM  
$PSSFDUꢁ  
-JEꢁ"MJHONFOU  
-JE  
8JOEꢁMFGUꢁGPPUꢁEPXOꢁ  
PVUꢒꢁUPꢁDPSSFDU  
5PQEFDL  
-JE  
5PQEFDL  
5PQEFDL  
-JE  
8JOEꢁSJHIUꢁGPPUꢁEPXOꢁ  
PVUꢒꢁUPꢁDPSSFDU  
*GꢁJUꢁEPFTꢁOPUꢁMPPLꢁMJLFꢁUIFꢁEJBHSBNꢁJOꢁUIFꢁNJEEMFꢅꢁBEKVTUꢁPOFꢁPGꢁUIFꢁGSPOUꢁGFFUꢁTMJHIUMZꢁVOUJMꢁJUꢁ  
NBUDIFTꢆꢁ5IFꢁEJBHSBNꢁPOꢁUIFꢁUPQꢁBOEꢁCPUUPNꢁBSFꢁOPUꢁDPSSFDUꢆ  
 5VSOꢁPOꢁUIFꢁXBUFSꢁBOEꢁDIFDLꢁBMMꢁIPTFꢁDPOOFDUJPOTꢁGPSꢁMFBLTꢆꢁ.BLFꢁTVSFꢁUIFSFꢁBSFꢁOPꢁLJOLTꢁJOꢁꢁ  
UIFꢁIPTFꢆ  
 6ODPJMꢁQPXFSꢁDPSEꢁBOEꢁQMVHꢁJOUPꢁXBMMꢁTPDLFUꢆ  
 
&/  
*OTUBMMBUJPOꢁ*OTUSVDUJPOT  
&BSUIJOHꢀ  
&BSUIFEꢀ1MVHT  
1PXFSꢁDPSEꢁXJUIꢁꢊꢁQJOꢁQMVHꢒꢁ  
1MVHꢁJOUPꢁBꢁDPNQBUJCMFꢁꢊꢁQJOꢁXBMMꢁTPDLFUꢆ  
/POo&BSUIFEꢀ1MVHT  
1PXFSꢁDPSEꢁXJUIꢁꢀꢁQJOꢁQMVHꢁBOEꢁBꢁTFQBSBUFꢁFBSUIꢁXJSFꢒ  
 5IJTꢁBQQMJBODFꢁ.645ꢁCFꢁFBSUIFEꢁVTJOHꢁUIFꢁFBSUIꢁXJSFꢁBUUBDIFEꢁUPꢁUIFꢁSFBSꢁPGꢁUIFꢁNBDIJOFꢆꢁ5IFꢁ  
FYQPTFEꢁFOEꢁPGꢁUIFꢁFBSUIꢁXJSFꢁNVTUꢁCFꢁJOꢁDPOUBDUꢁXJUIꢁBOꢁFBSUIꢁQPJOUꢁFHꢁJOꢁDPOUBDUꢁXJUIꢁBOꢁ  
FBSUIJOHꢁCBSꢅꢁNFUBMꢁXBUFSꢁQJQFꢆ  
 *NQSPQFSꢁFBSUIJOHꢁPGꢁUIJTꢁNBDIJOFꢁDBOꢁSFTVMUꢁJOꢁBꢁSJTLꢁPGꢁFMFDUSJDꢁTIPDLꢆꢁ$IFDLꢁXJUIꢁBꢁRVBMJGJFEꢁ  
FMFDUSJDJBOꢁPSꢁTFSWJDFNBOꢁJGꢁZPVꢁBSFꢁJOꢁEPVCUꢁBTꢁUPꢁXIFUIFSꢁUIFꢁNBDIJOFꢁJTꢁQSPQFSMZꢁFBSUIFEꢆꢁ  
3FGFSꢁUPꢁQBHFꢁꢎꢒꢆ  
8BUFSꢀ4VQQMZꢀ  
N
 'PSꢁCFTUꢁPQFSBUJOHꢁDPOEJUJPOTꢁZPVSꢁIPUꢁXBUFSꢁTIPVMEꢁCFꢁBQQSPYJNBUFMZꢁꢐꢌ„$ꢆꢁ:PVSꢁDPMEꢁXBUFSꢁ  
TIPVMEꢁOPUꢁFYDFFEꢁꢊꢌ„$ꢁPSꢁZPVSꢁIPUꢁXBUFSꢁFYDFFEꢁꢂꢌ„$ꢆꢁ5FNQFSBUVSFTꢁBCPWFꢁUIJTꢁNBZꢁDBVTFꢁUIFꢁ  
NBDIJOFꢁUPꢁGBVMUꢁPSꢁDBVTFꢁEBNBHFꢁUPꢁUIFꢁNBDIJOFꢆꢁ  
N
 *GꢁZPVꢁIBWFꢁBOꢁVODPOUSPMMFEꢁXBUFSꢁIFBUJOHꢁTPVSDFꢁ FHꢁBꢁXFUꢁCBDLꢁPSꢁTPMBSꢁIFBUJOHꢁTZTUFNꢒꢁZPVꢁ  
TIPVMEꢁGJUꢁBꢁ4BGFꢁ7BMWFꢆꢁ5IJTꢁXJMMꢁFOTVSFꢁUIFꢁIPUꢁXBUFSꢁUFNQFSBUVSFꢁSFNBJOTꢁXJUIJOꢁTBGFꢁMJNJUTꢆ  
%SBJOJOH  
N
 3FHVMBSMZꢁDIFDLꢁUIBUꢁZPVSꢁTUBOEQJQFꢁPSꢁUVCꢁJTꢁGSFFꢁGSPNꢁMJOUꢁPSꢁPUIFSꢁPCTUSVDUJPOTꢅꢁBTꢁUIJTꢁNBZꢁ  
BGGFDUꢁIPXꢁZPVSꢁNBDIJOFꢁXPSLTꢆ  
N
 *OꢁNVMUJꢉTUPSFZꢁBQBSUNFOUTꢁPSꢁBOZꢁVQQFSꢁGMPPSꢅꢁUIFꢁNBDIJOFꢁTIPVMEꢁCFꢁJOTUBMMFEꢁPOꢁBꢁESBJOFEꢁGMPPSꢆ  
N
 %SBJOJOHꢁNVTUꢁDPNQMZꢁXJUIꢁMPDBMꢁCZꢉMBXTꢆ  
"VUPXBTIFSꢀ4BGFUZ  
N
 5IJTꢁBVUPXBTIFSꢁJTꢁOPUꢁJOUFOEFEꢁGPSꢁVTFꢁCZꢁZPVOHꢁDIJMESFOꢁPSꢁJOGJSNꢁQFSTPOTꢁXJUIPVUꢁTVQFSWJTJPOꢆ  
N
 $POOFDUJPOꢁUPꢁUIFꢁXBUFSꢁNBJOTꢁNVTUꢁCFꢁXJUIꢁOFXꢁIPTFTꢁBOEꢁUIFꢁPMEꢁIPTFTꢁNVTUꢁCFꢁEJTDBSEFEꢆ  
N
 :PVSꢁ4NBSUꢀ%SJWF™ꢁDBOꢁCFꢁPQFOFEꢁXIJMFꢁJUꢁJTꢁGJMMJOHꢁBOEꢁBHJUBUJOHꢅꢁTVQFSWJTFꢁZPVOHꢁDIJMESFOꢁUPꢁ  
FOTVSFꢁUIFZꢁEPꢁOPUꢁQMBZꢁXJUIꢁJUꢆ  
ꢁ$"65*0/ꢇ  
*GꢀZPVꢀBSFꢀVTJOHꢀBOꢀFYUFOTJPOꢀDPSEꢀPSꢀBꢀQPSUBCMFꢀFMFDUSJDBMꢀPVUMFUꢀEFWJDFꢀ FHꢀNVMUJꢁTPDLFUꢀPVUMFUꢀ  
CPYꢃꢄꢀFOTVSFꢀUIBUꢀJUꢀJTꢀQPTJUJPOFEꢀTPꢀUIBUꢀJUꢀEPFTꢀOPUꢀDPNFꢀJOUPꢀDPOUBDUꢀXJUIꢀXBUFSꢀPSꢀNPJTUVSFꢅꢀ  
 
*OTUBMMBUJPOꢁ*OTUSVDUJPOT  
4QFDJGJDBUJPOT  
*OMFUꢁXBUFSꢁQSFTTVSF  
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4QSBZꢀꢆꢀ  
%FFQꢀ3JOTF  
ꢇꢀ%FFQꢀꢀ  
3JOTF  
ꢈꢀ%FFQꢀ  
3JOTFT  
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.PEFM  
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ꢏꢃꢁꢁ-  
ꢈꢎꢃꢁꢁ-  
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ꢈꢍꢌꢁꢁ-  
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1MFBTFꢁOPUFꢁUIFTFꢁBSFꢁBQQSPYJNBUFꢁGJHVSFTꢁGPSꢁ)JHIꢁXBUFSꢁMFWFMTꢆꢒ  
 
5IBOLꢁZPVꢁGPSꢁCVZJOHꢁBꢁ'JTIFSꢁꢔꢁ1BZLFMꢁ4NBSUꢀ%SJWF™ꢁXBTIJOHꢁNBDIJOFꢆꢁꢁ8FꢁBSFꢁWFSZꢁQSPVEꢁPGꢁUIJTꢁ  
XBTIFSꢁBOEꢁUSVTUꢁJUꢁXJMMꢁTFSWFꢁZPVꢁXFMMꢁGPSꢁNBOZꢁZFBSTꢆ  
&/  
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FOFSHZꢁFGGJDJFOUꢆꢁ5IPVTBOETꢁPGꢁUPOOFTꢁPGꢁXBTIJOHꢁBOEꢁꢂꢃꢁZFBSTꢁPGꢁMBVOESZꢁFYQFSJFODFꢁIBWFꢁCFFOꢁ  
QSPHSBNNFEꢁJOUPꢁZPVSꢁXBTIJOHꢁNBDIJOFꢁUPꢁIFMQꢁHJWFꢁZPVꢁUIFꢁCFTUꢁQPTTJCMFꢁQFSGPSNBODFꢆ  
8FꢁIPQFꢁZPVꢁFOKPZꢁZPVSꢁOFXꢁXBTIJOHꢁNBDIJOFꢅꢁꢁ  
XFꢁIBWFꢁDFSUBJOMZꢁFOKPZFEꢁEFTJHOJOHꢁJUꢆ  
#FGPSFꢁ:PVꢁ%Pꢁ:PVSꢁ'JSTUꢁ8BTI  
:PVꢁPXFꢁJUꢁUPꢁZPVSTFMGꢁBOEꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁUPꢁIBWFꢁJUꢁJOTUBMMFEꢁDPSSFDUMZꢁCZꢁBOꢁBVUIPSJTFEꢁ  
TFSWJDFꢁBHFOUꢆ  
#FGPSFꢁZPVꢁTUBSUꢅꢁJUꢁJTꢁBꢁHPPEꢁJEFBꢁUPꢁHPꢁUISPVHIꢁUIFꢁGPMMPXJOHꢁDIFDLMJTUꢑ  
 )BTꢁUIFꢁCBTFQBDLFSꢁCFFOꢁSFNPWFE  
 "SFꢁBMMꢁWBMWFTꢁFJUIFSꢁDPOOFDUFEꢁUPꢁBOꢁJOMFUꢁIPTFꢁPSꢁCMBOLJOHꢁDBQ ꢁꢁ*TꢁUIFꢁDPMEꢁIPTFꢁDPOOFDUFEꢁUPꢁ  
UIFꢁDPMEꢁWBMWFꢁNBSLFEꢁA$ꢄ  
 *TꢁUIFꢁESBJOꢁIPTFꢁUISFBEFEꢁUISPVHIꢁUIFꢁA6ꢁCFOEAꢁ XJUIꢁOPꢁNPSFꢁUIBOꢁꢀꢃNNꢁFYUFOEFEꢒꢁBOEꢁPOꢁUPꢁ  
ZPVSꢁTUBOEQJQF  
 "SFꢁUIFꢁSVCCFSꢁJOTFSUTꢁTFDVSFEꢁJOUPꢁUIFꢁGFFUꢁPOꢁUIFꢁCBTFꢁPGꢁZPVSꢁNBDIJOFꢁBOEꢁJTꢁUIFꢁNBDIJOFꢁ  
MFWFMMFE  
ꢁꢁ 3FGFSꢁUPꢁ*OTUBMMBUJPOꢁ*OTUSVDUJPOTꢅꢁQBHFꢁꢍꢆ  
 *GꢁZPVꢁIBWFꢁCPVHIUꢁBꢁ1SJEFꢁNPEFMꢁJUꢁJTꢁBꢁHPPEꢁJEFBꢁUPꢁDIFDLꢁUIFꢁXBSNꢁGJMMꢁUFNQFSBUVSFꢆꢁ 3FGFSꢁUPꢁ  
QBHFꢁꢀꢎꢒꢆ  
 
6TJOHꢁ:PVSꢁ&YDFMMFODFꢁ8BTIFS  
N
N
 3FNPWFꢁGBCSJDꢁTPGUFOFSꢁEJTQFOTFSꢆ  
 1MBDFꢁUIFꢁMPBEꢁFWFOMZꢁBSPVOEꢁUIFꢁBHJUBUPSꢆꢁ 3FGFSꢁUPꢁ4PSUJOHꢁBOEꢁ-PBEJOHꢁQBHFꢁꢀꢊꢒꢆ  
"ꢁꢀ%FUFSHFOU  
N
N
 6TFꢁUIFꢁNBSLꢁPOꢁUIFꢁBHJUBUPSꢅꢁOFBSFTUꢁUPꢁUIFꢁUPQꢁ  
PGꢁUIFꢁDMPUIFTꢅꢁBTꢁBꢁHVJEFꢁUPꢁUIFꢁDPSSFDUꢁBNPVOUꢁ  
PGꢁEFUFSHFOUꢁUPꢁVTFꢆ  
 1PVSꢁUIFꢁEFUFSHFOUꢁEPXOꢁUIFꢁDFOUSFꢁPGꢁUIFꢁ  
BHJUBUPSꢁTUFNꢆꢁ3FQMBDFꢁUIFꢁGBCSJDꢁTPGUFOFSꢁ  
EJTQFOTFSꢁ UIJTꢁTUPQTꢁTNBMMꢁBSUJDMFTꢁGBMMJOHꢁEPXOꢁ  
UIFꢁDFOUSFꢁPGꢁUIFꢁBHJUBUPSꢒꢆꢁ 3FGFSꢁUPꢁ%FUFSHFOUꢁ  
QBHFꢁꢀꢍꢒꢆ  
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N
N
 *GꢁZPVꢁXJTIꢁUPꢁVTFꢁGBCSJDꢁTPGUFOFSꢅꢁQMBDFꢁJUꢁJOꢁUIFꢁ  
EJTQFOTFSꢁPOꢁUIFꢁUPQꢁPGꢁUIFꢁBHJUBUPSꢆꢁ  
 'BCSJDꢀTPGUFOFSꢀNVTUꢀOPUꢀCFꢀVTFEꢀJGꢀZPVꢀIBWFꢀ  
TFMFDUFEꢀUIFꢀ8BUFSꢀ4BWFSꢀPSꢀ&DPꢀPQUJPOꢁ  
3FGFSꢁUPꢁ'BCSJDꢁ4PGUFOFSꢁQBHFꢁꢀꢌꢒꢆ  
ꢈꢃ  
 
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$ꢁꢀ1PXFSꢀ#VUUPO  
N
N
N
 1SFTTꢁ108&3ꢁUPꢁUVSOꢁUIFꢁNBDIJOFꢁPOꢆ  
%ꢁꢀ4FMFDUꢀ8BTIꢀ$ZDMF  
 1SFTTꢁUIFꢁEFTJSFEꢁXBTIꢁDZDMFꢁCVUUPOꢆ  
&ꢁꢀ8BTIꢀ0QUJPOT  
 4FMFDUꢁUIFꢁ8"4)ꢀ5&.1&3"563&ꢀBOEꢁPUIFSꢁXBTIꢁPQUJPOTꢆꢁꢁ  
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'ꢀ4UBSU  
N
 1SFTTꢁ45"35ꢄ1"64&ꢁUPꢁTUBSUꢁUIFꢁNBDIJOFꢆ  
*Gꢀ:PVꢀ8JTIꢀUPꢀ4UPQꢀ:PVSꢀ4NBSUꢀ%SJWF™ꢀ%VSJOHꢀUIFꢀ$ZDMF  
 1SFTTꢁ45"35ꢄ1"64&  
N
N
 *GꢁJUꢁJTꢁEVSJOHꢁTQSBZꢁSJOTFꢁPSꢁTQJOꢁUIFSFꢁJTꢁBꢁTMJHIUꢁEFMBZꢁXIJMFꢁUIFꢁCPXMꢁJTꢁDPBTUFEꢁUPꢁBꢁTUPQꢁBOEꢁUIFꢁ  
MJEꢁJTꢁVOMPDLFEꢆ  
'PSꢀCFTUꢀGBCSJDꢀBOEꢀDPMPVSꢀDBSFꢀSFNPWFꢀZPVSꢀDMPUIFTꢀBTꢀTPPOꢀBTꢀUIFꢀDZDMFꢀIBTꢀGJOJTIFEꢁ  
ꢈꢈ  
 
6TJOHꢁ:PVSꢁ1SJEFꢁ8BTIFS  
N
N
 3FNPWFꢁGBCSJDꢁTPGUFOFSꢁEJTQFOTFSꢆ  
 1MBDFꢁUIFꢁMPBEꢁFWFOMZꢁBSPVOEꢁUIFꢁBHJUBUPSꢆꢁ 3FGFSꢁUPꢁ4PSUJOHꢁBOEꢁ-PBEJOHꢁQBHFꢁꢀꢊꢒꢆ  
"ꢁꢀ%FUFSHFOU  
N
N
 6TFꢁUIFꢁNBSLꢁPOꢁUIFꢁBHJUBUPSꢅꢁOFBSFTUꢁUPꢁUIFꢁUPQꢁ  
PGꢁUIFꢁDMPUIFTꢅꢁBTꢁBꢁHVJEFꢁUPꢁUIFꢁDPSSFDUꢁBNPVOUꢁ  
PGꢁEFUFSHFOUꢁUPꢁVTFꢆ  
 1PVSꢁUIFꢁEFUFSHFOUꢁEPXOꢁUIFꢁDFOUSFꢁPGꢁUIFꢁ  
BHJUBUPSꢁTUFNꢆꢁ3FQMBDFꢁUIFꢁGBCSJDꢁTPGUFOFSꢁ  
EJTQFOTFSꢁ UIJTꢁTUPQTꢁTNBMMꢁBSUJDMFTꢁGBMMJOHꢁEPXOꢁ  
UIFꢁDFOUSFꢁPGꢁUIFꢁBHJUBUPSꢒꢆꢁ 3FGFSꢁUPꢁ%FUFSHFOUꢁ  
QBHFꢁꢀꢍꢒꢆ  
$
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#ꢁꢀ'BCSJDꢀ4PGUFOFS  
N
N
 *GꢁZPVꢁXJTIꢁUPꢁVTFꢁGBCSJDꢁTPGUFOFSꢅꢁQMBDFꢁJUꢁJOꢁUIFꢁ  
EJTQFOTFSꢁPOꢁUIFꢁUPQꢁPGꢁUIFꢁBHJUBUPSꢆꢁ  
 'BCSJDꢀTPGUFOFSꢀNVTUꢀOPUꢀCFꢀVTFEꢀJGꢀZPVꢀIBWFꢀ  
TFMFDUFEꢀUIFꢀ&DPꢀPQUJPOꢁ  
3FGFSꢁUPꢁ'BCSJDꢁ4PGUFOFSꢁQBHFꢁꢀꢌꢒꢆ  
ꢈꢀ  
 
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$ꢁꢀ1PXFSꢀ#VUUPO  
N
 1SFTTꢁ108&3ꢁUPꢁUVSOꢁUIFꢁNBDIJOFꢁPOꢆ  
%ꢁꢀ4FMFDUꢀ8BTIꢀ$ZDMF  
N
 4FMFDUꢁUIFꢁDZDMFꢁZPVꢁXBOUꢁCZꢁQSFTTJOHꢁUIFꢁ$ZDMFꢁ#VUUPOꢁMPDBUFEꢁCFMPXꢁUIFꢁ3FHVMBSꢁPQUJPOꢆꢁ4DSPMMꢁ  
UISPVHIꢁUIFꢁDZDMFTꢁVOUJMꢁUIFꢁPOFꢁZPVꢁXBOUꢁJTꢁMJUꢆ  
&ꢁꢀ8BTIꢀ0QUJPOT  
N
 4FMFDUꢁUIFꢁ8"4)ꢀ5&.1&3"563&ꢀBOEꢁPUIFSꢁXBTIꢁPQUJPOTꢆꢁꢁ  
'
&
'ꢀ4UBSU  
N
 1SFTTꢁ45"35ꢄ1"64&ꢁUPꢁTUBSUꢁUIFꢁNBDIJOFꢆ  
*Gꢀ:PVꢀ8JTIꢀUPꢀ4UPQꢀ:PVSꢀ4NBSUꢀ%SJWF™ꢀ%VSJOHꢀUIFꢀ$ZDMF  
 1SFTTꢁ45"35ꢄ1"64&  
N
N
 *GꢁJUꢁJTꢁEVSJOHꢁTQSBZꢁSJOTFꢁPSꢁTQJOꢁUIFSFꢁJTꢁBꢁTMJHIUꢁEFMBZꢁXIJMFꢁUIFꢁCPXMꢁJTꢁDPBTUFEꢁUPꢁBꢁTUPQꢁBOEꢁUIFꢁ  
MJEꢁJTꢁVOMPDLFEꢆ  
'PSꢀCFTUꢀGBCSJDꢀBOEꢀDPMPVSꢀDBSFꢀSFNPWFꢀZPVSꢀDMPUIFTꢀBTꢀTPPOꢀBTꢀUIFꢀDZDMFꢀIBTꢀGJOJTIFEꢁ  
ꢈꢊ  
 
-JEMPDL  
:PVSꢁ4NBSUꢀ%SJWF™ꢁIBTꢁBꢁMJEMPDLꢅꢁXIJDIꢁMPDLTꢁXIFOꢁZPVSꢁ  
NBDIJOFꢁJTꢁTQJOOJOHꢆꢁꢁ5IJTꢁFOTVSFTꢁUIFꢁMJEꢁDBOOPUꢁCFꢁ  
PQFOFEꢁEVSJOHꢁIB[BSEPVTꢁQBSUTꢁPGꢁUIFꢁDZDMFꢅꢁQSPWJEJOHꢁ  
BEEFEꢁTBGFUZꢁGPSꢁZPVꢁBOEꢁZPVSꢁGBNJMZꢆꢁꢁ  
5IFꢁMJEMPDLꢁMJHIUꢁ BCPWFꢁUIFꢁ45"35ꢄ1"64&ꢁCVUUPOꢒꢁDPNFTꢁ  
POꢁXIFOꢁUIFꢁMJEꢁJTꢁMPDLFEꢁUPꢁUFMMꢁZPVꢁXIFOꢁZPVꢁDBOOPUꢁ  
PQFOꢁUIFꢁMJEꢆꢁꢁ*OꢁTIPSUꢁJUꢁNFBOTꢁZPVꢁDBOꢁPQFOꢁUIFꢁMJEꢁXIJMFꢁ  
ZPVSꢁ4NBSUꢀ%SJWF™ꢁJTꢁGJMMJOHꢅꢁBHJUBUJOHꢅꢁBOEꢁESBJOJOHꢅꢁCVUꢁOPUꢁ  
XIJMFꢁJUꢁJTꢁTQJOOJOHꢆ  
N
N
N
 8IFOꢁUIFꢁ-JEMPDLꢁMJHIUꢁJTꢁPOꢅꢁUIFꢁMJEꢁJTꢁMPDLFEꢆ  
 8IFOꢁUIFꢁ-JEMPDLꢁMJHIUꢁJTꢁPGGꢅꢁUIFꢁMJEꢁJTꢁOPUꢁMPDLFEꢁBOEꢁUIFꢁMJEꢁDBOꢁCFꢁPQFOFEꢆ  
 *GꢁUIFꢁ-JEMPDLꢁMJHIUꢁJTꢁGMBTIJOHꢁUIFꢁ-JEMPDLꢁJTꢁJOꢁUIFꢁQSPDFTTꢁPGꢁMPDLJOHꢁPSꢁVOMPDLJOHꢅꢁ JꢆFꢆꢁXIJMFꢁUIFꢁ  
NBDIJOFꢁDPBTUTꢁEPXOꢁPSꢁ45"35ꢄ1"64&ꢁIBTꢁCFFOꢁQSFTTFEꢒꢆꢁ%VSJOHꢁUIJTꢁTUBHFꢁUIFꢁMJEꢁTUJMMꢁDBOOPUꢁ  
CFꢁMJGUFEꢆ  
*GꢀUIFꢀMJEꢀJTꢀMFGUꢀPQFOꢅꢀUIFꢀNBDIJOFꢀXJMMꢀCFꢀVOBCMFꢀUPꢀMPDLꢀBOEꢀUIFꢀDZDMFꢀXJMMꢀCFꢀIBMUFEꢁꢀꢀ  
5IFꢀNBDIJOFꢀXJMMꢀQMBZꢀBꢀUVOFꢀBOEꢀUIFꢀMJEMPDLꢀMJHIUꢀXJMMꢀGMBTIꢀVOUJMꢀUIFꢀMJEꢀJTꢀDMPTFEꢀBOEꢀꢀ  
45"35ꢄ1"64&ꢀJTꢀQSFTTFEꢁ  
5IFꢁMJEMPDLꢁSFNBJOTꢁVOMPDLFEꢁGPSꢁUIFꢁNBKPSJUZꢁPGꢁUIFꢁDZDMFꢁBMMPXJOHꢁZPVꢁUPꢁBEEꢁDMPUIFTꢅꢁEJTTPMWFꢁ  
EFUFSHFOUꢁPSꢁUPꢁBEEꢁGBCSJDꢁTPGUFOFSꢁ JGꢁZPVꢁEPꢁOPUꢁXBOUꢁUPꢁVTFꢁUIFꢁ"VUPNBUJDꢁ'BCSJDꢁ4PGUFOFSꢁ  
%JTQFOTFSꢒꢆ  
5IFꢁDIBSUꢁCFMPXꢁTIPXTꢁUIFꢁTUBHFTꢁXIFOꢁUIFꢁMJEꢁJTꢁMPDLFEꢆ  
'JMM  
6OMPDLFE  
6OMPDLFE  
-PDLFE  
"HJUBUF  
4QSBZꢁ3JOTF  
%FFQꢁ3JOTF  
4QJO  
6OMPDLFE  
-PDLFE  
,FFQꢀDIJMESFOꢀBXBZꢀGSPNꢀUIFꢀNBDIJOFꢄꢀFTQFDJBMMZꢀXIFOꢀZPVꢀBSFꢀVTJOHꢀIPUꢀXBUFSꢄꢀBTꢀUIFꢀMJEꢀDBOꢀCFꢀ  
PQFOFEꢀEVSJOHꢀGJMMꢀBOEꢀBHJUBUFꢅ  
%0ꢀ/05ꢀQVUꢀBOZUIJOHꢀEPXOꢀUIFꢀTMPUꢀJOꢀUIFꢀUPQꢀEFDLꢀPGꢀZPVSꢀNBDIJOFꢁ  
%0ꢀ/05ꢀUSZꢀUPꢀEJTBCMFꢀUIFꢀMJEMPDLꢁ  
ꢈꢍ  
 
&/  
5IFꢁ8BTIꢁ$ZDMFTꢁ  
1FSNBOFOUꢀ  
1SFTT  
3FHVMBS  
)FBWZꢀEVUZꢀ  
%FMJDBUF  
8PPM  
ꢈꢀꢁNJO  
3FHVMBS  
$PME  
ꢈꢌꢁNJO  
)FBWZꢁ%VUZ  
$PME  
ꢐꢁNJO  
%FMJDBUF  
$PME  
ꢏꢁNJO  
3FHVMBS  
$PME  
ꢐꢁNJO  
%FMJDBUF  
$PME  
8BTIꢀ5JNF  
8BTIꢀ"DUJPO  
8BTIꢀ5FNQ  
4QSBZꢁꢔꢁ  
%FFQꢁ3JOTF  
4QSBZꢁꢔꢁ  
ꢀꢁꢁ  
ꢀꢁ  
4QSBZꢁꢔꢁ  
3JOTF  
%FFQꢁ3JOTF %FFQꢁ3JOTFT %FFQꢁ3JOTFT %FFQꢁ3JOTF  
'BTU  
'BTUꢁ  
4MPX  
4MPXꢁ  
ꢊꢁNJO  
.FEJVNꢁ  
ꢐꢁNJO  
4QJOꢀ4QFFE  
4QJOꢀ5JNF  
$ZDMFꢀ5JNFTꢉ  
-BSHF  
ꢐꢁNJO  
ꢐꢁNJO  
ꢍꢁNJO  
ꢍꢌ  
ꢍꢀ  
ꢍꢈ  
ꢍꢎ  
ꢍꢌ  
ꢍꢍ  
ꢍꢀ  
ꢊꢂ  
ꢊꢌ  
ꢍꢊ  
ꢊꢎ  
ꢊꢐ  
ꢊꢂ  
ꢊꢌ  
ꢊꢌ  
.FEJVN  
$PNQBDU  
ꢕ"QQSPYJNBUFꢁUJNFTꢁ NJOVUFTꢒꢁGPSꢁBꢁIJHIꢁXBUFSꢁMFWFMꢁMPBEꢁPOꢁ&9$&--&/$&ꢁNPEFMTꢆ  
 $ZDMFꢀUJNFTꢀBSFꢀEFQFOEFOUꢀPOꢀZPVSꢀIPVTFIPMEꢀXBUFSꢀQSFTTVSFꢁ  
.PEFMꢀ7BSJBUJPOT  
ꢀ &9$&--&/$&ꢁNPEFMTꢁꢉꢁ'VMMZꢁGFBUVSFEꢅꢁXJUIꢁBMMꢁꢌꢁXBTIꢁDZDMFTꢁBOEꢁBꢁGBWPVSJUFꢁDZDMFꢆꢁ  
ꢀ 13*%&ꢁNPEFMTꢁꢉꢁ3FHVMBSꢅꢁ)FBWZꢁ%VUZꢅꢁ%FMJDBUFꢁBOEꢁ8PPMꢁDZDMFTꢆ  
N
3FHVMBSꢁDZDMFꢁ XJUIꢁUIFꢁ&DPꢁPQUJPOꢒꢁIBTꢁCFFOꢁEFTJHOFEꢁGPSꢁOPSNBMMZꢁTPJMFEꢅꢁFWFSZEBZꢁXBTIJOHꢁ  
FHꢁTIFFUTꢅꢁUPXFMTꢅꢁ5ꢉTIJSUTꢆ  
N
N
)FBWZꢀ%VUZꢁDZDMFꢁJTꢁGPSꢁIFBWJMZꢁTPJMFEꢁEVSBCMFꢁHBSNFOUTꢁFHꢁPWFSBMMTꢅꢁKFBOTꢅꢁUFBꢁUPXFMTꢆꢁ  
%FMJDBUFꢁDZDMFꢁVTFTꢁBꢁTMPXꢅꢁHFOUMFꢁBHJUBUJPOꢁEFTJHOFEꢁUPꢁDBSFꢁGPSꢁZPVSꢁNPTUꢁEFMJDBUFꢁHBSNFOUTꢁ  
FHꢁMJOHFSJFꢅꢁCMPVTFTꢆ  
N
N
1FSNBOFOUꢀ1SFTTꢁDZDMFꢁJTꢁGPSꢁHBSNFOUTꢁUIBUꢁDSFBTFꢁFBTJMZꢁFHꢁCVTJOFTTꢁTIJSUTꢆ  
8PPMꢁDZDMFꢁJTꢁGPSꢁNBDIJOFꢁXBTIBCMFꢁXPPMMFOTꢆꢁ  
ꢈꢌ  
 
8BTIꢁ0QUJPOTꢁBOEꢁ"EWBODJOHꢁUIFꢁ$ZDMF  
5Pꢀ4FMFDUꢀUIFꢀ8BTIꢀ0QUJPOT  
ꢀ.PEFM  
ꢀꢁꢁ4FMFDUꢁUIFꢁXBTIꢁDZDMFꢅꢁUFNQFSBUVSFꢅꢁXBUFSꢁMFWFMꢁBOEꢁ  
TQJOꢁTQFFEꢆꢁ 3FGFSꢁUPꢁ1BHFꢁꢈꢈꢒꢆ  
 1SFTTꢁUIFꢁ015*0/4ꢁCVUUPOꢁJGꢁZPVꢁXBOUꢁUPꢁDIPPTFꢁ  
&DPꢅꢁ4PBLꢁPSꢁ8BUFSꢁ4BWFSꢆꢁ 3FGFSꢁUPꢁQBHFTꢁꢈꢎꢁBOEꢁꢈꢏꢒꢆ  
ꢁ1SFTTꢁ45"35ꢄ1"64&  
ꢀ.PEFM  
ꢀꢁꢁ4FMFDUꢁUIFꢁXBTIꢁDZDMFꢅꢁUFNQFSBUVSFꢅꢁXBUFSꢁMFWFMꢁBOEꢁ  
TQJOꢁTQFFEꢆꢁ 3FGFSꢁUPꢁ1BHFꢁꢈꢊꢒꢆ  
 *GꢁZPVꢁXJTIꢁUPꢁTBWFꢁXBUFSꢁQSFTTꢁUIFꢁ&DPꢁCVUUPOꢆꢁ  
3FGFSꢁUPꢁQBHFꢁꢈꢎꢒꢆ  
ꢁ1SFTTꢁ45"35ꢄ1"64&  
5IFꢀ8BTIꢀ1SPHSFTTꢀ-JHIUT  
5IFꢁ8BTIꢁ1SPHSFTTꢁMJHIUTꢁTIPXꢁBMMꢁUIFꢁUBTLTꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁXJMMꢁEPꢁEVSJOHꢁUIFꢁXBTIꢁDZDMFꢆꢁ"Tꢁ  
FBDIꢁUBTLꢁJTꢁDPNQMFUFEꢁBꢁMJHIUꢁHPFTꢁPVUꢅꢁTPꢁZPVꢁDBOꢁUFMMꢁBUꢁBꢁHMBODFꢁIPXꢁGBSꢁUIFꢁDZDMFꢁIBTꢁUPꢁHPꢆꢁ  
/PUFꢂꢀ  
5XPꢁMJHIUTꢁBSFꢁVTFEꢁUPꢁTIPXꢁXBSNoIPUꢁBOEꢁXBSNoDPMEꢁXBTIꢁUFNQFSBUVSFTꢆ  
5Pꢀ"EWBODFꢀUIFꢀ8BTIꢀ$ZDMFꢀ  
ꢀꢁ 1SFTTꢁ108&3  
ꢂꢁ 1SFTTꢁUIFꢁCVUUPOꢁXJUIꢁUIFꢁiUXPꢁBSSPXTwSFQFBUFEMZꢁ  
UPꢁBEWBODFꢁUIFꢁDZDMFꢅꢁUPꢁUIFꢁEFTJSFEꢁQPTJUJPOꢆ  
ꢃꢁ 1SFTTꢁ45"35ꢄ1"64&  
/PUFꢂꢀ  
&BDIꢁXBTIꢁQSPHSFTTꢁMJHIUꢁFRVBMTꢁꢊꢁNJOVUFTꢁPGꢁBHJUBUJPOꢆꢁ5IFꢁ&DPꢁPQUJPOꢁXBTIꢁQSPHSFTTꢁMJHIUTꢁNBZꢁ  
JOꢁTPNFꢁDBTFTꢁXBTIꢁGPSꢁMPOHFSꢆꢁ5IJTꢁJTꢁEFQFOEFOUꢁPOꢁUIFꢁXBUFSꢁMFWFMꢆ  
$MPUIFTꢀ$BSFꢀ4BGFHVBSET  
5PꢁBWPJEꢁBDDJEFOUBMMZꢁEBNBHJOHꢁZPVSꢁDMPUIFTꢁUIFSFꢁBSFꢁBꢁGFXꢁPQUJPOTꢁUIBUꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁXJMMꢁ  
OPUꢁBDDFQUꢆꢁ'PSꢁFYBNQMFꢅꢁZPVꢁDBOOPUꢁTFMFDUꢁBꢁIPUꢁXBTIꢁPOꢁ%FMJDBUFꢅꢁ1FSNBOFOUꢁ1SFTTꢁPSꢁ8PPMꢁDZDMFTꢆꢁ  
ꢈꢐ  
 
&/  
8BUFSꢁ-FWFMT  
.BOVBMꢀ8BUFSꢀ-FWFMꢀ4FMFDUJPOꢀ  
5IFꢁBHJUBUPSꢁIBTꢁꢌꢁMFWFMTꢁNBSLFEꢁPOꢁJUTꢁTUFNꢁUIBUꢁDBOꢁCFꢁVTFEꢁ  
UPꢁIFMQꢁZPVꢁTFMFDUꢁUIFꢁDPSSFDUꢁXBUFSꢁMFWFMꢆꢁ4FMFDUꢁUIFꢁDPSSFDUꢁ  
XBUFSꢁMFWFMꢁCZꢁVTJOHꢁUIFꢁNBSLꢁOFBSFTUꢁUPꢁUIFꢁUPQꢁPGꢁUIFꢁMPBEꢆ  
N
N
 5IFꢀMFWFMTꢀNBSLFEꢀPOꢀUIFꢀBHJUBUPSꢀEPꢀOPUꢀDPSSFTQPOEꢀ  
FYBDUMZꢀUPꢀUIFꢀMFWFMꢀPGꢀUIFꢀXBUFSꢁꢀ5IFZꢀJOEJDBUFꢀUIFꢀMFWFMꢀPGꢀ  
ESZꢀDMPUIFTꢀTVJUBCMFꢀGPSꢀUIFꢀXBUFSꢀMFWFMꢁ  
 :PVSꢁ4NBSUꢀ%SJWF™ꢁNBZꢁPDDBTJPOBMMZꢁBEEꢁXBUFSꢁEVSJOHꢁ  
BHJUBUJPOꢆꢁ5IJTꢁJTꢁUPꢁNBJOUBJOꢁUIFꢁXBUFSꢁMFWFMꢁEVFꢁUPꢁUIFꢁ  
SFMFBTFꢁPGꢁBJSꢁUSBQQFEꢁJOꢁUIFꢁHBSNFOUTꢆ  
N
N
 0VUꢁPGꢁCBMBODFꢁMPBETꢅꢁUBOHMJOHꢁPSꢁTQMBTIꢉPWFSꢁDBOꢁCFꢁDBVTFEꢁ  
CZꢁTFMFDUJOHꢁBꢁXBUFSꢁMFWFMꢁUIBUꢁJTꢁUPPꢁIJHIꢆ  
 5IFꢀNFEJVNꢄIJHIꢀBOEꢀNFEJVNꢄMPXꢀTFUUJOHTꢀBSFꢀBWBJMBCMFꢀ  
POꢀUIFꢀ&YDFMMFODFꢀNPEFMTꢀPOMZꢁ  
"VUPꢀ8BUFSꢀ-FWFM  
ꢀ.PEFMꢀ0OMZ  
:PVSꢁ4NBSUꢀ%SJWF™ꢁDBOꢁBVUPNBUJDBMMZꢁTFMFDUꢁUIFꢁBQQSPQSJBUFꢁ  
XBUFSꢁMFWFMꢁGPSꢁUIFꢁMPBEꢆ  
ꢀꢁ 1MBDFꢁZPVSꢁDMPUIFTꢁJOꢁUIFꢁNBDIJOFꢆ  
ꢂꢁ 4FMFDUꢁUIFꢁXBTIꢁDZDMFꢁ 4FMFDUꢁ"650ꢁJGꢁOPUꢁBVUPNBUJDBMMZꢁ  
TFMFDUFEꢒꢆ  
ꢃꢁ 1SFTTꢁ45"35ꢄ1"64&  
 %VSJOHꢁGJMMꢁUIFꢁNBDIJOFꢁXJMMꢁQBVTFꢁPDDBTJPOBMMZꢁUPꢁTFOTFꢁ  
UIFꢁXBUFSꢁMFWFMꢆꢁ5IFꢁNBDIJOFꢁXJMMꢁDIFDLꢁJGꢁUIFꢁXBUFSꢁMFWFMꢁ  
JTꢁDPSSFDUꢁCZꢁVTJOHꢁBꢁTFSJFTꢁPGꢁꢀꢁEJGGFSFOUꢁBHJUBUFꢁTUSPLFTꢆꢁꢁ"ꢁ  
TMPXꢁTUSPLFꢁUPꢁTFOTFꢁUIFꢁMPBEꢁBOEꢁBOꢁBHJUBUFꢁTUSPLFꢁUPꢁNJYꢁ  
UIFꢁMPBEꢆꢁ 5IJTꢁNBZꢁUBLFꢁPWFSꢁBꢁNJOVUFꢆꢒꢁ*GꢁJUꢁEFUFDUTꢁUIBUꢁUIFꢁ  
XBUFSꢁMFWFMꢁJTꢁOPUꢁIJHIꢁFOPVHIꢅꢁJUꢁXJMMꢁGJMMꢁXJUIꢁNPSFꢁXBUFSꢁ  
BOEꢁSFꢉDIFDLꢁUIFꢁMFWFMꢆ  
N
 8IFOꢀXBTIJOHꢀBOꢀVOVTVBMꢀMPBEꢅꢀFHꢀMBSHFꢀCVMLZꢀHBSNFOUTꢀ  
PSꢀQJMMPXTꢅꢀXFꢀSFDPNNFOEꢀZPVꢀNBOVBMMZꢀTFMFDUꢀUIFꢀXBUFSꢀ  
MFWFMꢀBOEꢀTFMFDUꢀUIFꢀ%FMJDBUFꢀDZDMFꢁ  
N
 .BOVBMMZꢁTFMFDUꢁUIFꢁXBUFSꢁMFWFMꢁJGꢁUIFSFꢁJTꢁBMSFBEZꢁXBUFSꢁJOꢁ  
UIFꢁCPXMꢆ  
/PUFꢂꢀ  
*GꢁZPVꢁGFFMꢁUIFꢁ"VUPꢁ8BUFSꢁ-FWFMꢁEPFTꢁOPUꢁGJMMꢁUPꢁUIFꢁDPSSFDUꢁMFWFMꢅꢁZPVꢁDBOꢁBEKVTUꢁUIFꢁMFWFMꢁUIFꢁ  
NBDIJOFꢁTFMFDUTꢆꢁ 3FGFSꢁUPꢁ$IBOHJOHꢁ1SFꢉTFUꢁPQUJPOTꢁQBHFꢁꢀꢐꢁoꢁꢀꢏꢒꢆ  
ꢈꢂ  
 
8BTIꢁ0QUJPOTꢁoꢁ4BWJOHꢁ8BUFS  
&DP  
ꢀꢆꢀ  
ꢀ.PEFMT  
1SFTTꢁUIFꢁ&DPꢁPQUJPOꢁUPꢁTBWFꢁMBSHFꢁBNPVOUTꢁPGꢁXBUFSꢆꢁ  
5IFꢁ&DPꢁPQUJPOꢁVTFTꢁBOꢁ&DPꢁ4QSBZꢁSJOTFꢁXIJDIꢁIBTꢁCFFOꢁ  
TQFDJBMMZꢁEFTJHOFEꢁUPꢁVTFꢁꢀꢌꢋꢁMFTTꢁXBUFSꢁUIBOꢁUIFꢁ8BUFSꢁ  
4BWFSꢁPQUJPOꢆꢁ6TFꢁUIJTꢁPQUJPOꢁXIFOꢁZPVꢁXBOUꢁUPꢁVTFꢁ  
MFTTꢁEFUFSHFOUꢁBOEꢁMFTTꢁXBUFSꢆꢁ*GꢀZPVꢀIBWFꢀMPXꢀXBUFSꢀ  
QSFTTVSFꢀPSꢀTFOTJUJWFꢀTLJOꢀJUꢀJTꢀCFUUFSꢀUPꢀVTFꢀUIFꢀ8BUFSꢀ  
4BWFSꢀPQUJPOꢀ &YDFMMFODFꢀNPEFMꢀPOMZꢃꢁ  
5IFꢀ&DPꢀPQUJPOꢀIBTꢀOPUꢀCFFOꢀEFTJHOFEꢀUPꢀCFꢀVTFEꢀXJUIꢀ  
GBCSJDꢀTPGUFOFSꢁBTꢁJUꢁEPFTꢁOPUꢁIBWFꢁBꢁTFDPOEꢁEFFQꢁSJOTFꢁ  
UPꢁEJTQFOTFꢁUIFꢁTPGUFOFSꢁDPSSFDUMZꢆ  
8BUFSꢀ4BWFS  
ꢀ.PEFMꢀ0OMZ  
0VSꢁ&YDFMMFODFꢁNPEFMꢁQSPWJEFTꢁBOꢁFYDFMMFOUꢁPQQPSUVOJUZꢁ  
UPꢁTBWFꢁPOꢁXBUFSꢆꢁ6TFꢁUIFꢁ8BUFSꢁ4BWFSꢁPQUJPOꢁXIFOꢁZPVꢁ  
XBOUꢁUPꢁNJOJNJTFꢁUIFꢁBNPVOUꢁPGꢁXBUFSꢁVTFEꢁEVSJOHꢁBꢁ  
3FHVMBSꢁPSꢁ)FBWZꢁ%VUZꢁXBTIꢁDZDMFꢆ  
1SFTTꢁUIFꢁ8BUFSꢁ4BWFSꢁPQUJPOꢁUPꢁDIBOHFꢁUIFꢁSJOTFꢁGSPNꢁ  
Bꢁ4QSBZꢁꢔꢁ%FFQꢁSJOTFꢁUPꢁBꢁ4IPXFSꢁSJOTFꢆꢁ"ꢁ4IPXFSꢁSJOTFꢁ  
BMUFSOBUJWFMZꢁTIPXFSTꢁUIFꢁDMPUIFTꢁXJUIꢁXBUFSꢁBOEꢁTQJOTꢁ  
UIFNꢁUPꢁSFNPWFꢁUIFꢁTVETZꢁXBUFSꢆꢁ *GꢁZPVꢁXJTIꢁUPꢁTBWFꢁ  
FWFOꢁNPSFꢁXBUFSꢁTFMFDUꢁUIFꢁ&DPꢁPQUJPOꢒꢆ  
5IFꢁ8BUFSꢁ4BWFSꢁPQUJPOꢁIBTꢁOPUꢁCFFOꢁEFTJHOFEꢁUPꢁCFꢁ  
VTFEꢁXJUIꢁGBCSJDꢁTPGUFOFSꢁBTꢁJUꢁEPFTꢁOPUꢁIBWFꢁBꢁTFDPOEꢁ  
EFFQꢁSJOTFꢁUPꢁEJTQFOTFꢁUIFꢁTPGUFOFSꢁDPSSFDUMZꢆ  
/PUFꢂꢀꢀ  
8BUFSꢁ4BWFSꢁBOEꢁ&DPꢁPQUJPOTꢁBSFꢁPOMZꢁBWBJMBCMFꢁPOꢁUIFꢁ3FHVMBSꢁBOEꢁ)FBWZꢁ%VUZꢁDZDMFTꢆꢁ*GꢁZPVꢁꢁ  
USZꢁUPꢁTFMFDUꢁUIFTFꢁPQUJPOTꢁPOꢁUIFꢁ8PPMꢅꢁ%FMJDBUFꢁPSꢁ1FSNBOFOUꢁ1SFTTꢁDZDMFꢅꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁ  
XJMMꢁTLJQꢁPWFSꢁUIFꢁPQUJPOꢆꢁ8BUFSꢁ4BWFSꢁBOEꢁ&DPꢁXJMMꢁUBLFꢁTMJHIUMZꢁMPOHFSꢁUIBOꢁBꢁ4QSBZꢁꢔꢁ%FFQꢁ  
SJOTFꢆ  
5IFSFꢁBSFꢁTPNFꢁXBTIꢁMPBETꢁUIBUꢁNBZꢁOPUꢁTVJUꢁCFJOHꢁXBTIFEꢁVTJOHꢁFJUIFSꢁUIFꢁ|&DP}ꢁPSꢁ|8BUFSꢁ  
4BWFS}ꢁPQUJPOTꢆꢁ'PSꢁJOTUBODFꢅꢁMPBETꢁUIBUꢁIBWFꢁBꢁMPUꢁPGꢁTBOEꢁPSꢁTBXEVTUꢁJOꢁUIFNꢁPSꢁHBSNFOUTꢁ  
XIFSFꢁUIFꢁDPMPVSꢁTUJMMꢁSVOTꢁGSPNꢁUIFNꢆ  
ꢈꢎ  
 
&/  
8BTIꢁ0QUJPOT  
4PBL  
ꢀ.PEFMꢀ0OMZ  
6TFꢁUIFꢁ4PBLꢁPQUJPOꢁUPꢁTPBLꢁDMPUIFTꢁBUꢁUIFꢁFOEꢁPGꢁUIFꢁ  
XBTIꢁQIBTFꢁPSꢁXIFOꢁZPVꢁXJTIꢁUPꢁSFꢉVTFꢁUIFꢁXBTIꢁXBUFSꢆ  
 8IFOꢁZPVꢁTFMFDUꢁ4PBLꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁXJMMꢁTPBLꢁGPSꢁ  
BꢁQFSJPEꢁPGꢁꢈꢁIPVSꢁCFGPSFꢁDPNQMFUJOHꢁSJOTFꢁBOEꢁTQJOꢆꢁ  
%VSJOHꢁTPBLꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁXJMMꢁBHJUBUFꢁGPSꢁBꢁGFXꢁ  
TFDPOETꢁFWFSZꢁNJOVUFꢆ  
/BQQZꢀ4BOJUJTFSTꢄꢀ#MFBDI  
/BQQZꢁTBOJUJTFSTꢁBOEꢁCMFBDIꢁBSFꢁWFSZꢁDPSSPTJWFꢁUPꢁNFUBMꢁ  
TVSGBDFTꢆꢁꢁ%0ꢀ/05ꢀVTFꢀZPVSꢀ4NBSUꢀ%SJWF™ꢀUPꢀTPBLꢀJUFNTꢀ  
JOꢀCMFBDIꢀPSꢀTBOJUJTFSꢅꢀPSꢀUJQꢀUIFꢀDPOUFOUTꢀPGꢀUIFꢀOBQQZꢀ  
CVDLFUꢀJOUPꢀZPVSꢀNBDIJOFꢁꢀꢁ3JOTFꢁBOEꢁXSJOHꢁJUFNTꢁPVUꢁ  
UIPSPVHIMZꢁCFGPSFꢁQMBDJOHꢁUIFNꢁJOꢁZPVSꢁNBDIJOFꢆ  
4QJOꢀ)PMEꢀ  
6TFꢁUIFꢁ4QJOꢁ)PMEꢁPQUJPOꢁUPꢑ  
N
 3FNPWFꢁESJQꢁESZꢁHBSNFOUTꢁGSPNꢁBꢁNJYFEꢁMPBEꢁCFGPSFꢁUIFꢁ  
XBTIꢁHPFTꢁJOUPꢁTQJOꢆ  
N
 .JOJNJTFꢁUIFꢁDMPUIFTꢁDSFBTJOHꢁXIFOꢁUIFZꢁBSFꢁMFGUꢁUPꢁTJUꢁJOꢁ  
UIFꢁCPUUPNꢁPGꢁUIFꢁCPXMꢁBUꢁUIFꢁFOEꢁPGꢁUIFꢁDZDMFꢆ  
 8IFOꢁZPVꢁIBWFꢁTFMFDUFEꢁ4QJOꢁ)PMEꢅꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁ  
XJMMꢁQBVTFꢁBUꢁUIFꢁFOEꢁPGꢁSJOTFꢅꢁCFFQꢁBOEꢁUIFꢁTQJOꢁMJHIUꢁXJMMꢁ  
GMBTIꢁUPꢁUFMMꢁZPVꢁUIBUꢁJUꢁJTꢁXBJUJOHꢁGPSꢁBOPUIFSꢁJOTUSVDUJPOꢆꢁ  
 1SFTTꢁ45"35ꢄ1"64&ꢁUPꢁCFHJOꢁUIFꢁTQJOꢆ  
%FMBZꢀ4UBSU  
ꢀ.PEFMꢀ0OMZ  
%FMBZꢁ4UBSUꢁXJMMꢁEFMBZꢁUIFꢁTUBSUꢁPGꢁUIFꢁXBTIꢁDZDMFꢁꢁ  
GPSꢁꢈꢅꢁꢊꢁPSꢁꢏꢁIPVSTꢆ  
 1SFTTꢁ%&-":ꢀ45"35ꢁPODFꢁGPSꢁBꢁEFMBZꢁPGꢁꢈꢁIPVSꢆꢁ1SFTTꢁBHBJOꢁGPSꢁꢊꢁ  
IPVSTꢅꢁBꢁUIJSEꢁUJNFꢁGPSꢁꢏꢁIPVSTꢁ BOEꢁBHBJOꢁUPꢁSFUVSOꢁUPꢁOPSNBMꢒꢆ  
N
 0ODFꢁZPVꢁQSFTTꢁ%FMBZꢁ4UBSUꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁXJMMꢁCFHJOꢁUIFꢁ  
EFMBZꢁQFSJPEꢅꢁZPVꢁEPꢁOPUꢁIBWFꢁUPꢁQSFTTꢁ45"35ꢄ1"64&  
N
 #FꢁDBSFGVMꢁJGꢁVTJOHꢁ%FMBZꢁ4UBSUꢁGPSꢁOPOꢉDPMPVSGBTUꢁDMPUIFTꢁBTꢁ  
EZFTꢁNBZꢁSVOꢁJGꢁUIFꢁDMPUIFTꢁBSFꢁEBNQꢆ  
N
 :PVSꢁ4NBSUꢀ%SJWF™ꢁXJMMꢁOPUꢁCFFQꢁBUꢁUIFꢁFOEꢁPGꢁUIFꢁDZDMFꢁJGꢁ%FMBZꢁ  
4UBSUꢁJTꢁTFMFDUFEꢆ  
ꢈꢏ  
 
8BTIꢁ0QUJPOT  
8BTIJOHꢀ#VMLZꢀ*UFNT  
 'PSDJOHꢁMBSHFꢁJUFNTꢁJOUPꢁUIFꢁNBDIJOFꢁNBZꢁSFTVMUꢁJOꢁ  
UIFNꢁCFJOHꢁEBNBHFEꢁEVSJOHꢁXBTIJOHꢆꢁ.BLFꢁTVSFꢁUIFSFꢁ  
JTꢁFOPVHIꢁSPPNꢁJOꢁUIFꢁNBDIJOFꢁGPSꢁJUFNTꢁUPꢁNPWFꢁ  
XIFOꢁCFJOHꢁXBTIFEꢆ  
 4PNFꢁJUFNTꢁGMPBUꢁVQꢁEVSJOHꢁUIFꢁXBTIꢅꢁ FHꢁEVWFUTꢖ  
EPPOBTꢁBOEꢁQJMMPXTꢒꢆꢁ*GꢁUIFZꢁTJUꢁUPPꢁIJHIꢁUIFZꢁNBZꢁUPVDIꢁ  
TUBUJPOBSZꢁQBSUTꢁPGꢁUIFꢁNBDIJOFꢁEVSJOHꢁBHJUBUFꢁPSꢁTQJOꢆꢁ  
5PꢁNJOJNJ[FꢁUIFꢁDIBODFꢁPGꢁUIJTꢁIBQQFOJOHꢅꢁCVMLZꢀJUFNTꢀ  
TIPVMEꢀCFꢀQVTIFEꢀEPXOꢀCFMPXꢀUIFꢀXBUFSꢀMFWFMꢀBGUFSꢀ  
GJMMꢀBOEꢀQVTIFEꢀUPꢀTJUꢀCFMPXꢀUIFꢀNFEJVNꢀIJHIꢀXBUFSꢀ  
MFWFMꢀNBSLꢀPOꢀUIFꢀBHJUBUPSꢀCFGPSFꢀTQJOOJOHꢁꢀ4FMFDUꢀBꢀ  
TMPXꢀTQJOꢁ  
#VMLZꢁJUFNTꢁTIPVMEꢁTJUꢁCFMPXꢁUIFꢁ  
NFEJVNꢁIJHIꢁXBUFSꢁMFWFMꢁNBSLꢆ  
 5PꢀQSFWFOUꢀBOꢀPVUꢀPGꢀCBMBODFꢀMPBEꢀPSꢀTQMBTIPWFSꢀXFꢀ  
SFDPNNFOEꢀXBTIJOHꢀUIFTFꢀJUFNTꢀPOꢀUIFꢀ%FMJDBUFꢀ  
DZDMFꢁꢁ*GꢁZPVꢁXJTIꢁUPꢁSFꢉTQJOꢁUIFꢁMPBEꢁBUꢁBꢁGBTUFSꢁTQFFEꢁ  
NBLFꢁTVSFꢁUIFꢁMPBEꢁJTꢁTJUUJOHꢁCFMPXꢁUIFꢁNFEJVNꢉIJHIꢁ  
NBSLꢁCFGPSFꢁTQJOOJOHꢆ  
8BTIJOHꢀ8PPMMFOT  
5IFꢁ8PPMꢁ$ZDMFꢁIBTꢁCFFOꢁBQQSPWFEꢁCZꢁUIFꢁ/FXꢁ;FBMBOEꢁ  
8PPMꢁ#PBSEꢁBOEꢁUIFꢁ"VTUSBMJBOꢁ8PPMꢁ$PSQPSBUJPOꢁGPSꢁ  
8PPMNBSLꢁQSPEVDUTꢁDBSSZJOHꢁBꢁ."$)*/&ꢁ8"4)"#-&ꢁ  
DBSFꢁDMBJNꢆꢁ5IFꢁGJCSFTꢁPGꢁUIFTFꢁXPPMMFOTꢁIBWFꢁCFFOꢁ  
USFBUFEꢁUPꢁQSFWFOUꢁGFMUJOHꢁXIFOꢁUIFZꢁBSFꢁNBDIJOFꢁ  
XBTIFEꢆꢁ.PTUꢁIBOELOJUUFEꢁHBSNFOUTꢁBSFꢁOPUꢁNBEFꢁPGꢁ  
NBDIJOFꢁXBTIBCMFꢁXPPMꢁBOEꢁXFꢁSFDPNNFOEꢁUIBUꢁZPVꢁ  
XBTIꢁUIFNꢁCZꢁIBOEꢆ  
N
 $IFDLꢁUIFꢁDBSFꢁMBCFMꢆꢁ  
N
 6TFꢁBꢁXPPMꢁEFUFSHFOUꢆꢁ  
N
 6TFꢁUIFꢁ8PPMꢁDZDMFꢆ  
N
 )BOEꢁXBTIFEꢁXPPMMFOTꢁNBZꢁCFꢁTQVOꢁJOꢁZPVSꢁ4NBSUꢀ%SJWF™ꢆ  
N
 5PꢁESZꢁXPPMMFOTꢁMJFꢁUIFNꢁGMBUꢁPOꢁBꢁUPXFMꢁBOEꢁQBUꢁJOUPꢁTIBQFꢆꢁ%SZꢁPVUꢁPGꢁEJSFDUꢁTVOMJHIUꢆꢁ  
N
 4PNFꢁXPPMꢁVOEFSMBZTꢁBOEꢁTIFFQTLJOꢁQSPEVDUTꢁDBOꢁCFꢁXBTIFEꢁJOꢁBꢁXBTIJOHꢁNBDIJOFꢁCVUꢁNBZꢁ  
QSPEVDFꢁFYDFTTJWFꢁBNPVOUTꢁPGꢁMJOUꢁUIBUꢁNBZꢁDBVTFꢁQVNQꢁCMPDLBHFTꢆꢁ  
ꢀꢃ  
 
&/  
'BWPVSJUFꢁ$ZDMF  
'BWPVSJUFꢀ$ZDMF  
ꢀ.PEFMꢀ0OMZ  
'BWPVSJUFꢁDZDMFꢁMFUTꢁZPVꢁEFTJHOꢁUIFꢁXBTIꢁDZDMFꢆꢁ*UꢁDBOꢁCFꢁBOZꢁXBTIꢁDZDMFꢁXJUIꢁBOZꢁPGꢁJUTꢁXBTIꢁ  
PQUJPOTꢁBOEꢁJUꢁDBOꢁTUBSUꢁGSPNꢁBOZꢁQPJOUꢁJOꢁUIFꢁDZDMFꢆꢁ'PSꢁJOTUBODFꢅꢁJUꢁNBZꢁCFꢁBꢁDZDMFꢁUPꢁXBTIꢁZPVSꢁ  
HZNꢁHFBSꢁPSꢁJUꢁNBZꢁCFꢁBꢁSJOTFꢁBOEꢁTQJOꢁUPꢁGJOJTIꢁXBTIJOHꢁUIFꢁOBQQJFTꢆ  
5Pꢀ4FUꢀ:PVSꢀ'BWPVSJUFꢀ$ZDMF  
 1SFTTꢁ1PXFSꢆ  
ꢂꢁ 1SFTTꢁUIFꢁ'"7063*5&ꢁDZDMFꢁCVUUPOꢆꢁ)PMEꢁEPXOꢁGPSꢁꢀꢁTFDPOETꢆ  
ꢃꢁ :PVꢁXJMMꢁIFBSꢁꢀꢁRVJDLꢁCFFQTꢁBOEꢁUIFꢁ'BWPVSJUFꢁMJHIUꢁXJMMꢁGMBTIꢆ  
ꢄꢁ 4FMFDUꢁZPVSꢁGBWPVSJUFꢁDZDMFꢅꢁ FHꢁ3FHVMBSꢅꢁ%FMJDBUFꢒꢆ  
ꢅꢁ 4FMFDUꢁUIFꢁXBTIꢁPQUJPOTꢅꢁ FHꢁDPMEꢁXBTIꢅꢁTPBLꢒꢆꢁ6TFꢁ"%7"/$&ꢁJGꢁZPVꢁXBOUꢁQBSUꢁPGꢁBꢁDZDMFꢅꢁ FHꢁUPꢁ  
SJOTFꢁOBQQJFTꢒꢆ  
ꢆꢁ 1SFTTꢁ'"7063*5&ꢁBHBJOꢁUPꢁTUPSFꢁZPVSꢁGBWPVSJUFꢁDZDMFꢆ  
 5PꢁDIBOHFꢁZPVSꢁGBWPVSJUFꢁDZDMFꢁTJNQMZꢁSFQFBUꢁUIFTFꢁTUFQTꢆ  
/PUFꢂ  
:PVSꢁ4NBSUꢀ%SJWF™ꢁXJMMꢁSFNFNCFSꢁZPVSꢁGBWPVSJUFꢁDZDMFꢁFWFOꢁXIFOꢁJUꢁJTꢁUVSOFEꢁPGGꢁBUꢁUIFꢁXBMMꢆꢁꢁ*UꢁJTꢁ  
OPUꢁQPTTJCMFꢁUPꢁQSPHSBNꢁBꢁEFMBZFEꢁTUBSUꢁJOUPꢁUIFꢁ'BWPVSJUFꢁDZDMFꢆ  
5Pꢀ6TFꢀ'BWPVSJUFꢀ$ZDMF  
ꢀꢁ 1SFTTꢁ108&3  
ꢂꢁ 1SFTTꢁ'"7063*5&ꢆꢁ  
:PVSꢁGBWPVSJUFꢁDZDMFꢁBOEꢁXBTIꢁPQUJPOTꢁXJMMꢁ  
CFꢁBVUPNBUJDBMMZꢁTFMFDUFEꢒꢆ  
ꢃꢁ 1SFTTꢁ45"35ꢄ1"64&  
ꢀꢈ  
 
$VTUPNJTJOHꢁUIFꢁ8BTIꢁ$ZDMFT  
5Pꢀ$VTUPNJTFꢀ"ꢀ8BTIꢀ$ZDMF  
ꢀ.PEFMꢀ0OMZ  
 :PVꢁDBOꢁQSPHSBNꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁUPꢁSFNFNCFSꢁUIFꢁXBTIꢁPQUJPOTꢁZPVꢁQSFGFSꢁGPSꢁFBDIꢁXBTIꢁ  
DZDMFꢆꢁ'PSꢁJOTUBODFꢅꢁZPVꢁNBZꢁXBOUꢁUPꢁTFUꢁUIFꢁ3FHVMBSꢁDZDMFꢁUPꢁBꢁDPMEꢁXBTIꢁPSꢁTFUꢁ)FBWZꢁ%VUZꢁUPꢁ  
JODMVEFꢁBꢁTPBLꢆ  
 1SFTTꢁ108&3  
 1SFTTꢁUIFꢁXBTIꢁDZDMFꢁCVUUPOꢆꢁ)PMEꢁEPXOꢁGPSꢁꢀꢁTFDPOETꢆ  
 :PVꢁXJMMꢁIFBSꢁꢀꢁRVJDLꢁCFFQTꢁBOEꢁUIFꢁXBTIꢁDZDMFꢁMJHIUꢁXJMMꢁGMBTIꢆ  
ꢃꢁ 4FMFDUꢁZPVSꢁXBTIꢁPQUJPOTꢅꢁ FHꢁDPMEꢁXBTIꢅꢁTPBLꢒꢆ  
 1SFTTꢁUIFꢁXBTIꢁDZDMFꢁBHBJOꢁUPꢁTUPSFꢁZPVSꢁDVTUPNJTFEꢁDZDMFꢆ  
5PꢁDIBOHFꢁZPVSꢁDVTUPNJTFEꢁXBTIꢁDZDMFꢁTJNQMZꢁSFQFBUꢁUIFTFꢁTUFQTꢆ  
8IFOꢁZPVꢁBSFꢁDVTUPNJTJOHꢁBꢁXBTIꢁDZDMFꢁZPVꢁDBOꢁTIPSUFOꢁPSꢁMFOHUIFOꢁUIFꢁBHJUBUJPOꢁUJNFꢆ  
N
 5PꢁTIPSUFOꢁUIFꢁBHJUBUJPOꢁUJNFꢅꢁQSFTTꢁ"%7"/$&ꢁUPꢁSFEVDFꢁUIFꢁOVNCFSꢁPGꢁHSFFOꢁMJHIUTꢆꢁ  
 5PꢁJODSFBTFꢁUIFꢁBHJUBUJPOꢁUJNFꢁLFFQꢁQSFTTJOHꢁ"%7"/$&ꢁVOUJMꢁBMMꢁUIFꢁHSFFOꢁMJHIUTꢁBSFꢁPOꢆ  
N
/PUFꢂꢀ  
6OMJLFꢁUIFꢁ'BWPVSJUFꢁDZDMFꢁZPVꢁDBOOPUꢁDVTUPNJTFꢁBꢁXBTIꢁDZDMFꢁUPꢁTUBSUꢁBUꢁUIFꢁSJOTFꢁPSꢁTQJOꢁTUBHFꢆꢁ  
0Oꢁ)FBWZꢁ%VUZꢁBOEꢁ8PPMꢁZPVꢁDBOꢁPOMZꢁEFDSFBTFꢁUIFꢁXBTIꢁUJNFꢆ  
ꢀꢀ  
 
&/  
#FGPSFꢁ:PVꢁ8BTI  
4PSUJOHꢀ  
.BDIJOFꢀ8BTIBCMF  
8BSNꢀꢊꢋ„$ꢀNBYꢀꢀ  
8BSNꢀ3JOTFꢀ8FMM  
/PSNBMꢀ4QJO  
5PꢁHFUꢁUIFꢁCFTUꢁXBTIꢁSFTVMUTꢁJUꢁQBZTꢁUPꢁTPSUꢁZPVSꢁ  
DMPUIFTꢁCFGPSFꢁXBTIJOHꢆ  
$BSFꢀ-BCFMT  
5IFꢁDBSFꢁMBCFMꢁXJMMꢁUFMMꢁZPVꢁBCPVUꢁUIFꢁGBCSJDꢁPGꢁUIFꢁ  
HBSNFOUꢁBOEꢁIPXꢁJUꢁTIPVMEꢁCFꢁXBTIFEꢆ  
%PꢀOPUꢀCMFBDI  
4PJM  
4PSUꢁDMPUIFTꢁBDDPSEJOHꢁUPꢁUIFꢁUZQFꢁBOEꢁBNPVOUꢁ  
PGꢁTPJMꢆꢁ4PNFꢁTPJMTꢁTVJUꢁXBSNFSꢁXBTIFTꢁFHꢁPJMZꢁ  
TPJMTꢅꢁXIJMFꢁPUIFSTꢁBSFꢁCFTUꢁXBTIFEꢁJOꢁDPMEꢁXBUFSꢁ  
FHꢁNVEꢅꢁCMPPEꢆ  
%PꢀOPUꢀUVNCMFꢀESZ  
%SZꢀJOꢀTIBEF  
8BSNꢀJSPO  
$PMPVS  
4PSUꢁXIJUFꢁGBCSJDTꢁGSPNꢁDPMPVSFEꢁGBCSJDTꢆ  
%SZꢀ$MFBOBCMF  
-JOU  
8BTIꢁMJOUꢁHJWFSTꢁBOEꢁMJOUꢁDPMMFDUPSTꢁTFQBSBUFMZꢆꢁ  
8IFSFꢁQPTTJCMFꢅꢁUVSOꢁMJOUꢁDPMMFDUPSTꢁJOTJEFꢁPVUꢆ  
&YBNQMFTꢁPGꢁ%JGGFSFOUꢁ$BSFꢁ-BCFMꢁ4ZNCPMTꢆ  
-JOUꢀ(JWFST  
-JOUꢀ$PMMFDUPST  
4ZOUIFUJDT  
$PSEVSPZ  
-PBEJOH  
$IFDLꢀ1PDLFUTꢅ  
-PPTFꢁJUFNTꢁDBOꢁEBNBHFꢁCPUIꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁ  
BOEꢁZPVSꢁDMPUIFTꢆ  
5PXFMT  
$IFOJMMF  
/BQQJFT  
1PMZꢁDPUUPO  
4PDLT  
$MPTFꢀ;JQQFSTꢄꢀ)PPLTꢀBOEꢀ&ZFTꢅ  
5IJTꢁJTꢁUPꢁNBLFꢁTVSFꢁUIBUꢁUIFTFꢁJUFNTꢁEPꢁOPUꢁTOBHꢁ  
POꢁPUIFSꢁDMPUIFTꢆ  
.FOEꢀ"OZꢀ5PSOꢀ(BSNFOUTꢀPSꢀ-PPTFꢀ#VUUPOTꢅ  
5FBSTꢁPSꢁIPMFTꢁNBZꢁCFDPNFꢁMBSHFSꢁEVSJOHꢁ  
XBTIJOHꢆꢁ3FNPWFꢁBOZꢁMPPTFꢁCSBꢁXJSFTꢁBTꢁUIFZꢁDBOꢁ  
EBNBHFꢁZPVSꢁXBTIJOHꢁNBDIJOFꢁBOEꢖPSꢁESZFSꢆ  
1SFUSFBUꢀ"OZꢀ4UBJOTꢅ  
.BLFꢀ4VSFꢀUIFꢀ8BUFSꢀ-FWFMꢀ4VJUTꢀUIFꢀ-PBEꢀ4J[Fꢅ  
 4FMFDUꢁUIFꢁDPSSFDUꢁXBUFSꢁMFWFMꢁCZꢁVTJOHꢁUIFꢁNBSLꢁPOꢁUIFꢁBHJUBUPSꢁOFBSFTUꢁUPꢁUIFꢁUPQꢁPGꢁUIFꢁMPBEꢆ  
N
N
 &OTVSFꢁUIBUꢁUIFꢁMPBEꢁEPFTꢁOPUꢁFYUFOEꢁBCPWFꢁUIFꢁGBCSJDꢁTPGUFOFSꢁEJTQFOTFSꢁBTꢁTQMBTIJOHꢁNBZꢁ  
PDDVSꢆ  
'PSꢀBꢀ#BMBODFEꢀ-PBE  
 1MBDFꢁVOGPMEFEꢁDMPUIFTꢁGJSNMZꢁBOEꢁFWFOMZꢁBSPVOEꢁUIFꢁBHJUBUPSꢆ  
N
N
N
 %PꢁOPUꢁXSBQꢁMBSHFꢁJUFNTꢅꢁTVDIꢁBTꢁTIFFUTꢅꢁBSPVOEꢁUIFꢁBHJUBUPSꢆ  
 "ꢁNJYUVSFꢁPGꢁTNBMMꢁBOEꢁMBSHFꢁJUFNTꢁXJMMꢁXBTIꢁUIFꢁCFTUꢆꢁ  
ꢀꢊ  
 
%FUFSHFOU  
$IPPTJOHꢀUIFꢀ3JHIUꢀ%FUFSHFOU  
8FꢁSFDPNNFOEꢁVTJOHꢁEPNFTUJDꢁEFUFSHFOUTꢅꢁ QPXEFSꢅꢁMJRVJEꢅꢁDPODFOUSBUFꢁPSꢁUBCMFUTꢒꢆ  
4PBQꢁGMBLFTꢁPSꢁHSBOVMBUFEꢁTPBQꢁQPXEFSTꢁTIPVMEꢁOPUꢁCFꢁVTFEꢁJOꢁZPVSꢁ4NBSUꢀ%SJWFꢁFHꢁ-VYꢁ4PBQꢁ  
'MBLFTꢆꢁ8IFOꢁXBTIJOHꢁXPPMMFOTꢁSFNFNCFSꢁUPꢁVTFꢁBꢁSFDPNNFOEFEꢁXPPMꢁEFUFSHFOUꢆ  
)PXꢀ.VDIꢀ%FUFSHFOU  
6TFꢁUIFꢁJOTUSVDUJPOTꢁPOꢁUIFꢁCBDLꢁPGꢁUIFꢁEFUFSHFOUꢁQBDLFUꢁBTꢁBꢁHVJEFꢁUPꢁUIFꢁDPSSFDUꢁBNPVOUꢁPGꢁ  
EFUFSHFOUꢁUPꢁVTFꢆꢁ5IFꢁDPSSFDUꢁBNPVOUꢁPGꢁEFUFSHFOUꢁXJMMꢁWBSZꢁEFQFOEJOHꢁPOꢁUIFꢁBNPVOUꢁPGꢁTPJMꢁJOꢁ  
ZPVSꢁDMPUIFTꢁBOEꢁUIFꢁTJ[FꢁPGꢁZPVSꢁMPBEꢆꢁ+FBOTꢁBOEꢁXPSLꢁDMPUIFTꢁNBZꢁOFFEꢁNPSFꢁEFUFSHFOUꢅꢁXIJMFꢁ  
UPXFMTꢁVTVBMMZꢁOFFEꢁMFTTꢆꢁ5IFꢁMBSHFSꢁZPVSꢁNBDIJOFꢁUIFꢁNPSFꢁEFUFSHFOUꢅꢁZPVꢁNBZꢁIBWFꢁUPꢁBEEꢆ  
5PꢁDIFDLꢁZPVꢁBSFꢁVTJOHꢁUIFꢁSJHIUꢁBNPVOUꢁPGꢁEFUFSHFOUꢅꢁMJGUꢁUIFꢁMJEꢁPGꢁZPVSꢁNBDIJOFꢁBCPVUꢁIBMGꢉXBZꢁ  
UISPVHIꢁUIFꢁXBTIꢆꢁ5IFSFꢁTIPVMEꢁCFꢁBꢁUIJOꢁMBZFSꢁPGꢁGPBNꢁPWFSꢁUIFꢁTVSGBDFꢁPGꢁUIFꢁXBUFSꢆꢁ-PUTꢁPGꢁGPBNꢁꢁ  
NBZꢁMPPLꢁHPPEꢅꢁCVUꢁJUꢁEPFTꢁOPUꢁDPOUSJCVUFꢁUPꢁDMFBOJOHꢁZPVSꢁDMPUIFTꢆꢁ/PꢁGPBNꢁNFBOTꢁOPUꢁFOPVHIꢁ  
EFUFSHFOUꢁIBTꢁCFFOꢁVTFEꢇꢁTPJMꢁBOEꢁMJOUꢁDBOꢁTFUUMFꢁCBDLꢁPOꢁUIFꢁDMPUIFTꢁPSꢁUIFꢁXBTIJOHꢁNBDIJOFꢆꢁ  
"EEJOHꢀUIFꢀ%FUFSHFOU  
5BCMFUTꢂꢀ  
1MBDFꢁUIFꢁSFRVJSFEꢁOVNCFSꢁPGꢁUBCMFUTꢁEPXOꢁUIFꢁDFOUSFꢁPGꢁUIFꢁBHJUBUPSꢆ  
%0ꢀ/05ꢁVTFꢁUIFꢁCBHꢁQSPWJEFEꢁXJUIꢁUIFꢁUBCMFUꢁQSPEVDUTꢒꢆꢁ  
 'PSꢁMPXꢁXBUFSꢁMFWFMꢁMPBETꢁ JꢆFꢆꢁXBTIJOHꢁꢀꢁPSꢁꢊꢁHBSNFOUTꢒꢁEPꢁOPUꢁQMBDFꢁUBCMFUꢁEPXOꢁUIFꢁBHJUBUPSꢆꢁ  
*OTUFBEꢁQMBDFꢁEJSFDUMZꢁJOUPꢁUIFꢁNBDIJOFꢁCFGPSFꢁBEEJOHꢁZPVSꢁDMPUIFTꢆ  
-JRVJEꢀPSꢀ1PXEFSFEꢀ%FUFSHFOUTꢆ  
ꢀꢁ 3FNPWFꢁGBCSJDꢁTPGUFOFSꢁEJTQFOTFSꢆ  
 1PVSꢁMJRVJEꢁPSꢁQPXEFSFEꢁEFUFSHFOUꢁEPXOꢁUIFꢁDFOUSFꢁ  
PGꢁUIFꢁBHJUBUPSꢆ  
N
 4PNFꢁEFUFSHFOUTꢁ.645ꢁCFꢁGVMMZꢁEJTTPMWFEꢁCFGPSFꢁ  
BEEJOHꢁUPꢁZPVSꢁNBDIJOFꢁUPꢁHFUꢁUIFꢁCFTUꢁXBTIꢁSFTVMUTꢆꢁ  
$IFDLꢁUIFꢁJOTUSVDUJPOTꢁPOꢁUIFꢁEFUFSHFOUꢁQBDLFUꢆ  
N
 1SFꢉEJTTPMWJOHꢁUIFꢁEFUFSHFOUꢁXIFOꢁXBTIJOHꢁJOꢁDPMEꢁ  
XBUFSꢁDBOꢁJNQSPWFꢁJUTꢁQFSGPSNBODFꢆ  
ꢃꢁ 3FQMBDFꢁGBCSJDꢁTPGUFOFSꢁEJTQFOTFSꢆꢁ 5IJTꢁQSFWFOUTꢁ  
TNBMMꢁBSUJDMFTꢁGBMMJOHꢁEPXOꢁUIFꢁDFOUSFꢁPGꢁUIFꢁBHJUBUPSꢒꢆ  
ꢀꢍ  
 
&/  
'BCSJDꢁ4PGUFOFS  
)PXꢀUIFꢀ'BCSJDꢀ4PGUFOFSꢀJTꢀ%JTQFOTFE  
5IFꢁGBCSJDꢁTPGUFOFSꢁHPFTꢁJOUPꢁUIFꢁEJTQFOTFSꢁPOꢁUIFꢁUPQꢁPGꢁUIFꢁBHJUBUPSꢆꢁ%VSJOHꢁUIFꢁSJOTFꢁUIFꢁ  
NBDIJOFꢁTQJOTꢁUPꢁSFMFBTFꢁUIFꢁGBCSJDꢁTPGUFOFSꢅꢁEFMJWFSJOHꢁJUꢁEPXOꢁUIFꢁBHJUBUPSꢁTUFNꢁBTꢁUIFꢁNBDIJOFꢁ  
GJMMTꢁGPSꢁUIFꢁGJOBMꢁEFFQꢁSJOTFꢆ  
/PUFꢂꢀ  
8BUFSꢁ4BWFSꢁBOEꢁ&DPꢁBSFꢁOPUꢁEFTJHOFEꢁUPꢁCFꢁVTFEꢁXJUIꢁGBCSJDꢁTPGUFOFSꢆꢁꢁ5IFZꢁEPꢁOPUꢁVTFꢁBꢁEFFQꢁ  
SJOTFꢁTPꢁUIFꢁNBDIJOFꢁDBOOPUꢁEJTQFOTFꢁGBCSJDꢁTPGUFOFSꢁDPSSFDUMZꢆ  
5PꢁSFNPWFꢁDVQ  
)PXꢀ.VDIꢀ'BCSJDꢀ4PGUFOFS  
5IFꢁSJOHꢁPOꢁUIFꢁEJTQFOTFSꢁDVQꢁJTꢁBꢁHVJEFꢁGPSꢁUIFꢁBNPVOUꢁPGꢁ  
GBCSJDꢁTPGUFOFSꢁUPꢁBEEꢁGPSꢁBꢁGVMMꢁMPBEꢆꢁꢁ4NBMMFSꢁMPBETꢁSFRVJSFꢁ  
MFTTꢁGBCSJDꢁTPGUFOFSꢆ  
$MFBOJOHꢀUIFꢀ%JTQFOTFS  
8IFOꢁVTJOHꢁGBCSJDꢁTPGUFOFSꢅꢁSJOTFꢁZPVSꢁEJTQFOTFSꢁBUꢁUIFꢁFOEꢁ  
PGꢁFBDIꢁXBTIꢆꢁꢁ  
ꢀꢁ 4FQBSBUFꢁUIFꢁDVQꢁGSPNꢁUIFꢁEJTQFOTFSꢁCPEZꢁCZꢁQVTIJOHꢁ  
EPXOXBSEꢁPOꢁUIFꢁCBTFꢁPGꢁUIFꢁDVQꢆꢁ  
ꢂꢁ 3JOTFꢁCPUIꢁQBSUTꢁPGꢁUIFꢁEJTQFOTFSꢁVTJOHꢁXBSNꢁTPBQZꢁXBUFSꢆ  
1VTIꢁDVQꢁUISPVHIꢁ  
EJTQFOTFSꢁXJUIꢁUIVNC  
4DSVE  
4DSVEꢁJTꢁUIFꢁOBNFꢁHJWFOꢁUPꢁUIFꢁXBYZꢁCVJMEꢉVQꢁUIBUꢁDBOꢁPDDVSꢁXJUIJOꢁBOZꢁXBTIFSꢁXIFOꢁUIFꢁGBCSJDꢁ  
TPGUFOFSꢁDPNFTꢁJOUPꢁDPOUBDUꢁXJUIꢁEFUFSHFOUꢆꢁꢁ5IJTꢁCVJMEꢉVQꢁJTꢁOPUꢁCSPVHIUꢁBCPVUꢁCZꢁBꢁGBVMUꢁJOꢁUIFꢁ  
NBDIJOFꢆꢁ*GꢁTDSVEꢁJTꢁBMMPXFEꢁUPꢁCVJMEꢉVQꢁJOꢁUIFꢁNBDIJOFꢁJUꢁDBOꢁSFTVMUꢁJOꢁTUBJOTꢁPOꢁZPVSꢁDMPUIFTꢁPSꢁ  
BOꢁVOQMFBTBOUꢁTNFMMꢁJOꢁZPVSꢁXBTIFSꢆ  
*GꢁZPVꢁXJTIꢁUPꢁVTFꢁGBCSJDꢁTPGUFOFSꢁXFꢁSFDPNNFOEꢑ  
N
 6TJOHꢁGBCSJDꢁTPGUFOFSꢁTQBSJOHMZꢆ  
N
 8IFOꢁGJMMJOHꢁUIFꢁEJTQFOTFSꢅꢁEPꢁOPUꢁTQMBTIꢁPSꢁPWFSGJMMꢆ  
N
 $MFBOꢁEJTQFOTFSꢁBTꢁTPPOꢁBTꢁUIFꢁDZDMFꢁIBTꢁGJOJTIFEꢆ  
N
 $MFBOꢁZPVSꢁNBDIJOFꢁSFHVMBSMZꢁ SFGFSꢁQBHFꢁꢊꢈꢒꢆ  
N
 $PMEꢁXBUFSꢁXBTIJOHꢁJODSFBTFTꢁUIFꢁDIBODFꢁPGꢁUIJTꢁCVJMEꢉVQꢁPDDVSSJOHꢆꢁꢁ8FꢁSFDPNNFOEꢁBꢁXBSNꢁPSꢁ  
IPUꢁXBTIꢁBUꢁSFHVMBSꢁJOUFSWBMTꢁFHꢁBQQSPYꢆꢁFWFSZꢁꢌUIꢁXBTIꢆ  
N
 'BCSJDꢁTPGUFOFSꢁPGꢁBꢁUIJOOFSꢁDPOTJTUFODZꢁJTꢁMFTTꢁMJLFMZꢁUPꢁMFBWFꢁSFTJEVFꢁPOꢁUIFꢁEJTQFOTFSꢁBOEꢁ  
DPOUSJCVUFꢁUPꢁBꢁCVJMEꢉVQꢆ  
ꢀꢌ  
 
$IBOHJOHꢁ1SFꢉTFUꢁ0QUJPOT  
0QUJPOꢀ"EKVTUNFOUꢀ.PEF  
 "GUFSꢁVTJOHꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁZPVꢁNBZꢁXBOUꢁUPꢁGJOFꢁUVOFꢁTPNFꢁPGꢁUIFꢁPQUJPOTꢁUPꢁTVJUꢁZPVSꢁꢁ  
XBTIꢁOFFETꢆ  
 5IFSFꢁBSFꢁBꢁOVNCFSꢁPGꢁQSFTFUꢁPQUJPOTꢅꢁXIJDIꢁDBOꢁCFꢁBMUFSFEꢆ  
*OꢁUIFꢁ&9$&--&/$&ꢁ.PEFMꢁUIFꢁGPMMPXJOHꢁQSFꢉTFUꢁPQUJPOTꢁDBOꢁCFꢁDIBOHFEꢑ  
N
 UIFꢁXBTIꢁUFNQFSBUVSFTꢆꢁ  
N
 UIFꢁSJOTFꢁPQUJPOꢁPOꢁ)FBWZꢁ%VUZꢅꢁ3FHVMBSꢁBOEꢁ8PPMꢁDZDMFTꢆ  
N
 UIFꢁDPMEꢁXBTIꢁUPꢁ$POUSPMMFEꢁ$PMEꢆ  
N
 UIFꢁOVNCFSꢁPGꢁCFFQTꢁBUꢁUIFꢁFOEꢁPGꢁUIFꢁDZDMFꢆ  
N
 UIFꢁBNPVOUꢁPGꢁXBUFSꢁVTFEꢁJOꢁUIFꢁ8BUFSꢁ4BWFSꢁPQUJPOꢆ  
N
 UIFꢁGJMMꢁMFWFMꢁTFMFDUFEꢁCZꢁ"VUPꢁ8BUFSꢁ-FWFMꢆ  
N
 UIFꢁ0VUꢁPGꢁ#BMBODFꢁSFDPWFSZꢁSPVUJOFꢆ  
*OꢁUIFꢁ13*%&ꢁ.PEFMꢁUIFꢁGPMMPXJOHꢁQSFꢉTFUꢁPQUJPOTꢁDBOꢁCFꢁDIBOHFEꢑ  
N
 UIFꢁXBSNꢁXBTIꢁUFNQFSBUVSFꢆꢁ  
N
 UIFꢁSJOTFꢁPQUJPOꢁPOꢁ)FBWZꢁ%VUZꢅꢁ3FHVMBSꢁBOEꢁ8PPMꢁDZDMFTꢆ  
N
 UIFꢁ0VUꢁPGꢁ#BMBODFꢁSFDPWFSZꢁSPVUJOFꢆ  
5Pꢀ&OUFSꢀ0QUJPOꢀ"EKVTUNFOUꢀ.PEF  
ꢀꢁ 5VSOꢁNBDIJOFꢁPOꢁBUꢁUIFꢁXBMMꢁCVUꢁEPꢁOPUꢁQSFTTꢁ108&3  
 1SFTTꢁ45"35ꢄ1"64&ꢁBOEꢁIPMEꢁEPXOꢅꢁUIFOꢁQSFTTꢁ108&3  
 :PVꢁXJMMꢁIFBSꢁUXPꢁRVJDLꢁCFFQTꢁBOEꢁUIFꢁNBDIJOFꢁXJMMꢁTIPXꢁ  
BOꢁVOVTVBMꢁQBUUFSOꢁPGꢁMJHIUTꢆ  
 *OꢁUIJTꢁNPEFꢁUIFꢁMJHIUTꢁBSFꢁVTFEꢁUPꢁJOEJDBUFꢁUIFꢁEJGGFSFOUꢁ  
PQUJPOTꢁBWBJMBCMFꢆꢁ  
 5IFꢀEJBHSBNꢀPOꢀQBHFꢀꢇꢈꢀTIPXTꢀIPXꢀUIFꢀMJHIUTꢀSFMBUFꢀUPꢀ  
UIFꢀPQUJPOTꢀZPVꢀDBOꢀDIBOHFꢁꢀ  
 1BHFTꢁꢀꢎꢁoꢁꢊꢃꢁFYQMBJOꢁUIFꢁEJGGFSFOUꢁPQUJPOTꢁJOꢁNPSFꢁEFUBJMꢆ  
ꢂꢁ 6TFꢁUIFꢁCVUUPOTꢁPOꢁUIFꢁQBOFMꢁUPꢁNBLFꢁZPVSꢁDIBOHFTꢁUPꢁUIFꢁ  
QSFꢉTFUꢁPQUJPOTꢆꢁ  
1SFTTꢁ108&3ꢁUPꢁSFUVSOꢁUPꢁOPSNBMꢁNPEFꢆ  
:PVSꢁ4NBSUꢀ%SJWF™ꢁXJMMꢁBVUPNBUJDBMMZꢁSFNFNCFSꢁZPVSꢁ  
DIBOHFTꢆ  
ꢀꢐ  
 
&/  
$IBOHJOHꢁ1SFꢉTFUꢁ0QUJPOT  
 1SFTTꢁ45"35ꢄ1"64&ꢁBOEꢁIPMEꢁEPXOꢆꢁ1SFTTꢁ108&3  
 5IFꢁEJBHSBNꢁCFMPXꢁTIPXTꢁIPXꢁUIFꢁMJHIUTꢁSFMBUFꢁUPꢁUIFꢁPQUJPOTꢁZPVꢁDBOꢁDIBOHFꢆꢁ*UꢁBMTPꢁTIPXTꢁ  
XIBUꢁMJHIUTꢁXJMMꢁCFꢁPOꢁXIFOꢁZPVꢁGJSTUꢁFOUFSꢁUIFꢁ0QUJPOꢁ"EKVTUNFOUꢁ.PEFꢆ  
6TFꢀUIJTꢀEJBHSBNꢀUPꢀIFMQꢀZPVꢀBEKVTUꢀUIFꢀPQUJPOTꢀPOꢀUIFꢀ  
ꢀNPEFMꢁ  
6TFꢀUIJTꢀEJBHSBNꢀUPꢀIFMQꢀZPVꢀBEKVTUꢀUIFꢀPQUJPOTꢀPOꢀUIFꢀ  
ꢀNPEFMꢁ  
ꢃꢁ 6TFꢁUIFꢁCVUUPOTꢁPOꢁUIFꢁQBOFMꢁUPꢁDIBOHFꢁUIFꢁQSFꢉTFUꢁPQUJPOTꢆ  
ꢀꢂ  
 
$IBOHJOHꢁ1SFꢉTFUꢁ0QUJPOT  
8BTIꢀ5FNQFSBUVSFTꢀ  
0OꢁUIFꢁ13*%&ꢁNPEFMTꢁUIFꢁXBSNꢁUFNQFSBUVSFꢁDBOꢁCFꢁBEKVTUFEꢁJGꢁZPVꢁUIJOLꢁJUꢁJTꢁUPPꢁIPUꢁPSꢁUPPꢁDPMEꢆꢁ  
/PUFꢂꢀ  
0OꢁUIFTFꢁNPEFMTꢁUIFꢁIPUꢁUFNQFSBUVSFꢁXJMMꢁCFꢁUIFꢁTBNFꢁBTꢁUIFꢁIPUꢁXBUFSꢁTVQQMZꢁUFNQFSBUVSFꢆ  
0OꢁUIFꢁ&9$&--&/$&ꢁNPEFMTꢁBMMꢁXBTIꢁUFNQFSBUVSFTꢁDBOꢁCFꢁJOEJWJEVBMMZꢁBEKVTUFEꢆ  
 4FMFDUꢁUIFꢁ8"4)ꢀ5&.1&3"563&ꢁZPVꢁXBOUꢁUPꢁBEKVTUꢆ  
 5IFꢁXBTIꢁQSPHSFTTꢁMJHIUTꢁTIPXꢁUIFꢁUFNQFSBUVSFꢁBEKVTUNFOUꢁQPTTJCMFꢁGPSꢁUIBUꢁUFNQFSBUVSFꢆ  
N
 1SFTTJOHꢁUIFꢁ"%7"/$&ꢁXJMMꢁDBVTFꢁUIFꢁXBTIꢁQSPHSFTTꢁMJHIUꢁUIBUꢁJTꢁPOꢁUPꢁDIBOHFꢆ  
N
 "EWBODJOHꢁUIFꢁ8BTIꢁ1SPHSFTTꢁMJHIUꢁXJMMꢁJODSFBTFꢁUIFꢁXBTIꢁUFNQFSBUVSFꢆꢁ*GꢁZPVꢁLFFQꢁQSFTTJOHꢁUIFꢁ  
"%7"/$&ꢅꢁUIFꢁMJHIUꢁXJMMꢁTDSPMMꢁCBDLꢁUPꢁUIFꢁDPMEFTUꢁTFUUJOHꢁBWBJMBCMFꢁGPSꢁUIBUꢁXBTIꢁUFNQFSBUVSFꢆ  
/PUFꢂꢀ  
*GꢁZPVꢁIBWFꢁBꢁ13*%&ꢁNPEFMꢁBOEꢁTUJMMꢁDBOꢄUꢁHFUꢁUIFꢁUFNQFSBUVSFꢁZPVꢁSFRVJSFꢅꢁBEWBODFꢁUIFꢁQSPHSFTTꢁ  
MJHIUꢁ XIJMFꢁJOꢁUIFꢁPQUJPOTꢁBEKVTUNFOUꢁNPEFꢒꢁBDSPTTꢁUPꢁTQJOꢁBOEꢁNBOVBMMZꢁBEKVTUꢁUIFꢁGMPXꢁPGꢁUIFꢁUBQTꢆ  
3JOTFꢀ0QUJPOT  
0OꢁUIFꢁ)FBWZꢁ%VUZꢅꢁ3FHVMBSꢁBOEꢁ8PPMꢁDZDMFTꢁ  
ZPVꢁDBOꢁDIBOHFꢁUIFꢁQSFꢉTFUꢁSJOTFꢁPQUJPOꢆꢁ  
3JOTFꢀ0QUJPOT  
 5IFꢁQSFꢉTFUꢁSJOTFꢁPQUJPOꢁPOꢁUIFTFꢁDZDMFTꢁJTꢁBꢁ  
4QSBZꢁꢔꢁ%FFQꢁSJOTFꢆꢁ5IFꢁ4QSBZꢁꢔꢁ%FFQꢁSJOTFꢁ  
DBOꢁCFꢁSFQMBDFEꢁXJUIꢁBꢁEPVCMFꢁEFFQꢁSJOTFꢅꢁPSꢁBꢁ  
.&%ꢀTQJOꢀ  
MJHIUꢀPOꢀ  
%FFQꢁSJOTF  
%FFQꢁSJOTF  
%FFQꢁSJOTF  
%FFQꢁSJOTF  
TJOHMFꢁEFFQꢁSJOTFꢆꢁ  
4-08ꢀTQJOꢀ  
MJHIUꢀPO  
 *GꢁZPVꢁIBWFꢁUSPVCMFꢁXJUIꢁJNQVSJUJFTꢁJOꢁZPVSꢁ  
XBUFSꢁJUꢁJTꢁCFTUꢁUPꢁTFUꢁZPVSꢁXBTIJOHꢁNBDIJOFꢁUPꢁ  
UXPꢁEFFQꢁSJOTFTꢆꢁ*GꢁZPVꢁXBOUꢁUPꢁDPOTFSWFꢁXBUFSꢅꢁ  
DIBOHFꢁUIFꢁSJOTFꢁPQUJPOꢁUPꢁPOFꢁEFFQꢁSJOTFꢆꢁ*Gꢁ  
ZPVꢁXBOUꢁUPꢁDPOTFSWFꢁFWFOꢁNPSFꢁXBUFSꢅꢁDIPPTFꢁ  
FJUIFSꢁUIFꢁ&DPꢁPSꢁ8BUFSꢁ4BWFSꢁPQUJPOꢆ  
4IPSUꢁTQJOꢁ  
4QSBZꢁSJOTF  
)0-%ꢀꢀ  
MJHIUꢀPO  
ꢀꢎ  
 
&/  
$IBOHJOHꢁ1SFꢉTFUꢁ0QUJPOT  
$POUSPMMFEꢀ$PME  
ꢀ.PEFMꢀ0OMZ  
*GꢁZPVSꢁDPMEꢁXBUFSꢁUFNQFSBUVSFꢁJTꢁWFSZꢁMPXꢁZPVꢁXJMMꢁOPUꢁHFUꢁBꢁWFSZꢁFGGFDUJWFꢁXBTIꢆꢁꢁ5IFꢁDPOUSPMMFEꢁ  
DPMEꢁPQUJPOꢁTPMWFTꢁUIJTꢁQSPCMFNꢁCZꢁBEEJOHꢁBꢁTNBMMꢁBNPVOUꢁPGꢁIPUꢁXBUFSꢁUPꢁSBJTFꢁUIFꢁUFNQFSBUVSFꢁ  
PGꢁUIFꢁXBTIꢆꢁꢁ8FꢁIBWFꢁDBMMFEꢁUIJTꢁ|$POUSPMMFEꢁ$PME}ꢆ  
ꢀꢁ 4FMFDUꢁ$0-%ꢁXBTIꢁUFNQFSBUVSFꢆ  
ꢂꢁ 5IFꢁ8BTIꢁ1SPHSFTTꢁMJHIUTꢁTIPXꢁUIFꢁUFNQFSBUVSFꢁBEKVTUNFOUꢁQPTTJCMFꢆ  
N
 8IFOꢁUIFꢁGJSTUꢁQSPHSFTTꢁMJHIUꢁJTꢁPOꢅꢁUIFꢁNBDIJOFꢁXJMMꢁGJMMꢁXJUIꢁDPMEꢁXBUFSꢁPOMZꢆ  
N
 1SFTTꢁ"%7"/$&ꢁUPꢁTFMFDUꢁUIFꢁTFDPOEꢁMJHIUꢁBOEꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁXJMMꢁDPOUSPMꢁUIFꢁUFNQFSBUVSFꢁUPꢁ  
BQQSPYJNBUFMZꢁꢀꢃ„$ꢆꢁ&BDIꢁGPMMPXJOHꢁMJHIUꢁFRVBMTꢁBQQSPYJNBUFMZꢁBꢁꢈ„$ꢁUFNQFSBUVSFꢁSJTFꢆ  
/PUFꢂꢀ  
*GꢁZPVꢁBMXBZTꢁVTFꢁDPMEꢁPSꢁDPOUSPMMFEꢁDPMEꢁXBUFSꢅꢁXFꢁSFDPNNFOEꢁUIBUꢁBꢁXBSNꢁPSꢁIPUꢁXBTIꢁCFꢁVTFEꢁ  
SFHVMBSMZꢅꢁFHꢆꢁFWFSZꢁꢌUIꢁXBTIꢁTIPVMEꢁCFꢁBUꢁMFBTUꢁBꢁXBSNꢁPOFꢆ  
&OEꢀPGꢀ$ZDMFꢀ#FFQT  
5IFꢁCFFQTꢁTJHOBMMJOHꢁUIFꢁFOEꢁPGꢁUIFꢁDZDMFꢁDBOꢁCFꢁJODSFBTFEꢁPSꢁEFDSFBTFEꢆꢁꢁ1SFTTꢁUIFꢁPQUJPOTꢁ  
CVUUPOꢁVQꢁUPꢁJODSFBTFꢁCFFQTꢁPSꢁEPXOꢁGPSꢁOPꢁCFFQTꢆ  
8BUFSꢀ4BWFS  
ꢀ.PEFMꢀ0OMZ  
:PVꢁDBOꢁJODSFBTFꢁPSꢁEFDSFBTFꢁUIFꢁWPMVNFꢁPGꢁXBUFSꢁBEEFEꢁEVSJOHꢁUIFꢁSJOTFꢁPOꢁUIFꢁXBUFSꢁTBWFSꢁPQUJPOꢆ  
"VUPꢀ8BUFSꢀ'JMMꢀ-FWFM  
ꢀ.PEFMꢀ0OMZ  
*GꢁZPVꢁBSFꢁOPUꢁTBUJTGJFEꢁXJUIꢁUIFꢁMFWFMꢁUIBUꢁZPVSꢁ  
4NBSUꢀ%SJWF™ꢁGJMMTꢁUPꢁPOꢁ"VUPꢁ8BUFSꢁ-FWFMꢅꢁZPVꢁDBOꢁ  
JODSFBTFꢁPSꢁEFDSFBTFꢁUIFꢁGJMMꢁMFWFMꢁUIBUꢁ"VUPꢁXJMMꢁTFMFDUꢆ  
-JHIUꢀPO  
'"7063*5&  
1&3.ꢅꢀ13&44  
800-ꢀ  
0QUJPO  
MFTTꢁXBUFS  
GBDUPSZꢁTFUUJOH  
NPSFꢁXBUFSꢁꢗ  
NPSFꢁXBUFSꢁꢗꢗ  
NPSFꢁXBUFSꢁꢗꢗꢗ  
/PUFꢂꢀ  
*GꢁZPVꢁGFFMꢁUIFSFꢁJTꢁOPUꢁFOPVHIꢁXBUFSꢁGPSꢁUIFꢁMPBEꢅꢁ  
XFꢁSFDPNNFOEꢁZPVꢁDIFDLꢁCZꢁQBVTJOHꢁUIFꢁNBDIJOFꢁ  
BOEꢁQVTIJOHꢁUIFꢁDMPUIFTꢁEPXOꢁUPꢁTFFꢁIPXꢁNVDIꢁ  
TQBSFꢁXBUFSꢁJTꢁBUꢁUIFꢁCPUUPNꢁPGꢁUIFꢁCPXMꢆꢁ$MPUIFTꢁ  
PGUFOꢁGMPBUꢁBOEꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁDBOꢁTFOTFꢁUIFꢁ  
XBUFSꢁVOEFSꢁUIFꢁDMPUIFTꢆ  
%&-*$"5&  
)&"7:ꢀ%65:  
ꢀꢏ  
 
$IBOHJOHꢁ1SFꢉTFUꢁ0QUJPOT  
0VUꢉPGꢉ#BMBODFꢀ3FDPWFSZꢀ3PVUJOF  
8IFOꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁJTꢁTQJOOJOHꢁJUꢁDBOꢁTFOTFꢁJGꢁUIFꢁXBTIꢁMPBEꢁJTꢁPVUꢉPGꢉCBMBODFꢁBOEꢁXJMMꢁTUPQꢁ  
BOEꢁSFꢉUSZꢁTQJOOJOHꢁVQꢁUPꢁꢊꢁUJNFTꢆꢁ*GꢁJUꢁTUJMMꢁTFOTFTꢁBOꢁVOCBMBODFEꢁMPBEꢁUIFSFꢁBSFꢁUXPꢁPQUJPOTꢁUIFꢁ  
NBDIJOFꢁDBOꢁUBLFꢆ  
"VUPNBUJDꢀ3FDPWFSZꢀ0QUJPO  
:PVSꢁ4NBSUꢀ%SJWF™ꢁXJMMꢁUSZꢁUPꢁBVUPNBUJDBMMZꢁDPSSFDUꢁ  
UIFꢁPVUꢉPGꢉCBMBODFꢁMPBEꢆꢁ*UꢁXJMMꢁGJMMꢁXJUIꢁXBUFSꢁBOEꢁ  
BHJUBUFꢁUPꢁSFEJTUSJCVUFꢁUIFꢁMPBEꢁCFGPSFꢁUSZJOHꢁUPꢁ  
TQJOꢁVQꢁBHBJOꢆ  
3&(6-"3  
MJHIUꢁPOꢁꢓꢁBVUPNBUJDꢁSFDPWFSZ  
.BDIJOFꢀTUPQTꢀ0QUJPO  
:PVSꢁ4NBSUꢀ%SJWF™ꢁXJMMꢁTUPQꢅꢁHJWFꢁBꢁTIPSUꢁCVSTUꢁPGꢁ  
CFFQTꢁFWFSZꢁꢌꢁTFDPOETꢅꢁBOEꢁUIFꢁ3*/4&ꢁPSꢁ41*/  
MJHIUꢁXJMMꢁGMBTIꢆꢁ:PVꢁNVTUꢁSFEJTUSJCVUFꢁUIFꢁMPBEꢁ  
NPSFꢁFWFOMZꢁZPVSTFMGꢆꢁ 6TFꢁUIJTꢁPQUJPOꢁJGꢁZPVꢁXJTIꢁ  
UPꢁDPOTFSWFꢁXBUFSꢒꢆ  
3&(6-"3  
MJHIUꢁPGGꢁꢓNBDIJOFꢁTUPQT  
ꢊꢃ  
 
&/  
$BSJOHꢁ'PSꢁ:PVSꢁ4NBSUꢁ%SJWF™  
8IFOꢀ:PVꢀ)BWFꢀ'JOJTIFE  
N
N
 5VSOꢁPGGꢁUIFꢁUBQTꢁUPꢁQSFWFOUꢁUIFꢁDIBODFꢁPGꢁGMPPEJOHꢁTIPVMEꢁ  
BꢁIPTFꢁCVSTUꢆ  
 5VSOꢁPGGꢁUIFꢁQPXFSꢁBUꢁUIFꢁXBMMꢆ  
$PMEꢀ8BUFSꢀ8BTIJOH  
*GꢁZPVꢁBMXBZTꢁVTFꢁDPMEꢁXBUFSꢅꢁXFꢁSFDPNNFOEꢁUIBUꢁBꢁXBSNꢁ  
PSꢁIPUꢁXBTIꢁCFꢁVTFEꢁBUꢁSFHVMBSꢁJOUFSWBMTꢅꢁFHꢁFWFSZꢁꢌUIꢁXBTIꢁ  
TIPVMEꢁCFꢁBUꢁMFBTUꢁBꢁXBSNꢁPOFꢆ  
$MFBOJOHꢀ:PVSꢀ4NBSUꢀ%SJWF™  
N
 $MFBOꢁXJUIꢁBꢁTPGUꢁEBNQꢁDMPUIꢁBOEꢁXJQFꢁESZꢆꢁ%PꢀOPUꢀ  
VTFꢀTDPVSJOHꢀDMFBOFSTꢀBTꢀUIFZꢀDBOꢀEBNBHFꢀUIFꢀQBJOUꢅꢀ  
QMBTUJDꢀBOEꢀQBOFMꢀTVSGBDFTꢁ  
N
N
 $MFBOꢁUIFꢁGBCSJDꢁTPGUFOFSꢁEJTQFOTFSꢁBGUFSꢁFBDIꢁDZDMFꢁ  
VTJOHꢁXBSNꢁTPBQZꢁXBUFSꢆ  
 :PVꢁDBOꢁSFNPWFꢁUIFꢁMJEꢁGPSꢁDMFBOJOHꢆꢁ0QFOꢁUIFꢁMJEꢁGVMMZꢅꢁ  
IPMEꢁPOFꢁTJEFꢁXJUIꢁPOFꢁIBOEꢁBOEꢁHFOUMZꢁUBQꢁUIFꢁPUIFSꢁ  
TJEFꢁXJUIꢁBOꢁVQXBSEꢁNPUJPOꢆ  
 5PꢁSFQMBDFꢁUIFꢁMJEꢅꢁIPMEꢁUIFꢁMJEꢁWFSUJDBMMZꢁBOEꢁBMJHOꢁCPUIꢁ  
IJOHFTꢁCFGPSFꢁQVTIJOHꢁEPXOꢁGJSNMZꢆ  
N
 5PꢁSFNPWFꢁUIFꢁBHJUBUPSꢁGPSꢁDMFBOJOHꢅꢁVOTDSFXꢁUIFꢁOVUꢁ  
EPXOꢁUIFꢁDFOUSFꢁPGꢁUIFꢁBHJUBUPSꢁCZꢁUVSOJOHꢁBOUJꢉDMPDLXJTFꢆ  
 5IFꢀBHJUBUPSꢀNVTUꢀCFꢀGVMMZꢀQVTIFEꢀPOꢀUPꢀUIFꢀTIBGUꢀXIFOꢀSFGJUUJOHꢁꢀ5JHIUFOꢀUIFꢀOVUꢀGJSNMZꢀCZꢀ  
IBOEꢁꢀ&OTVSFꢀUIFꢀBHJUBUPSꢀJTꢀOPUꢀMPPTFꢁ  
$MFBOJOHꢀUIFꢀ*OTJEFꢀPGꢀ:PVSꢀ4NBSUꢀ%SJWF™  
*GꢁZPVꢁVTFꢁGBCSJDꢁTPGUFOFSꢁPSꢁEPꢁSFHVMBSꢁDPMEꢁXBUFSꢁXBTIJOHꢅꢁJUꢁJTꢁJNQPSUBOUꢁUIBUꢁZPVꢁPDDBTJPOBMMZꢁ  
DMFBOꢁUIFꢁJOTJEFꢁPGꢁZPVSꢁNBDIJOFꢆ  
N
 'JMMꢁZPVSꢁNBDIJOFꢁXJUIꢁIPUꢁXBUFSꢆꢁꢁ"EEꢁBCPVUꢁUXPꢁDVQTꢁPGꢁBꢁQPXEFSFEꢁEFUFSHFOUꢁUIBUꢁDPOUBJOTꢁ  
QIPTQIBUFꢆ  
N
 -FUꢁJUꢁBHJUBUFꢁGPSꢁꢈoꢌꢁNJOVUFTꢆ  
N
 4UPQꢁUIFꢁNBDIJOFꢅꢁPQFOꢀUIFꢀMJEꢅꢁBOEꢁMFBWFꢁJUꢁUPꢁTPBLꢁPWFSOJHIUꢆ  
N
 "GUFSꢁTPBLJOHꢅꢁESBJOꢁUIFꢁNBDIJOFꢁBOEꢁSVOꢁUIFꢁNBDIJOFꢁUISPVHIꢁBꢁSFHVMBSꢁDZDMFꢆ  
 8FꢁEPꢁOPUꢁSFDPNNFOEꢁUIBUꢁZPVꢁXBTIꢁDMPUIFTꢁEVSJOHꢁUIJTꢁQSPDFEVSFꢆ  
ꢊꢈ  
 
.BDIJOFꢁ*OGPSNBUJPO  
1SPEVDUTꢀ5IBUꢀ.JHIUꢀ%BNBHFꢀ:PVSꢀ4NBSUꢀ%SJWF™  
N
 $PODFOUSBUFEꢁCMFBDIFTꢅꢁOBQQZꢁTBOJUJTFSTꢁBOEꢁIZESPDBSCPOꢁTPMWFOUTꢁ FHꢁQFUSPMꢁBOEꢁQBJOUꢁ  
UIJOOFSTꢒꢁDBOꢁDBVTFꢁEBNBHFꢁUPꢁUIFꢁQBJOUXPSLꢁBOEꢁDPNQPOFOUTꢁPGꢁZPVSꢁBVUPXBTIFSꢆꢁ #FꢁDBSFGVMꢁ  
XIFOꢁXBTIJOHꢁHBSNFOUTꢁTUBJOFEꢁXJUIꢁTPMWFOUTꢁBTꢁUIFZꢁBSFꢁGMBNNBCMFꢆꢁ%0ꢀ/05ꢁQVUꢁUIFNꢁJOꢁ  
ZPVSꢁESZFSꢒꢆ  
N
N
 %PꢁOPUꢁVTFꢁQSFꢉUSFBUNFOUꢁTQSBZTꢁPSꢁMJRVJETꢁPOꢁPSꢁOFBSꢁZPVSꢁBVUPXBTIFSꢁBTꢁUIFZꢁDBOꢁEBNBHFꢁ  
ZPVSꢁNBDIJOFꢄTꢁDPOUSPMꢁQBOFMꢆ  
 6TFꢁPGꢁEZFTꢁJOꢁZPVSꢁBVUPXBTIFSꢁNBZꢁDBVTFꢁTUBJOJOHꢁPGꢁUIFꢁQMBTUJDꢁDPNQPOFOUTꢆꢁ5IFꢁEZFꢁXJMMꢁOPUꢁ  
EBNBHFꢁUIFꢁNBDIJOFꢁCVUꢁXFꢁTVHHFTUꢁZPVꢁUIPSPVHIMZꢁDMFBOꢁZPVSꢁBVUPXBTIFSꢁBGUFSXBSETꢆꢁ8Fꢁ  
EPꢁOPUꢁSFDPNNFOEꢁUIFꢁVTFꢁPGꢁEZFꢁTUSJQQFSTꢁJOꢁZPVSꢁBVUPXBTIFSꢆ  
4NBSUꢀ%SJWF™ꢀ4PVOETꢀBOEꢀ#FFQTꢀ  
:PVSꢁ4NBSUꢀ%SJWF™ꢁXJMMꢁNBLFꢁTPVOETꢁUIBUꢁZPVꢁXJMMꢁOPUꢁIBWFꢁIFBSEꢁGSPNꢁPUIFSꢁBVUPXBTIFSTꢆ  
N  
Nꢀ  
%VSJOHꢁESBJOꢁZPVꢁXJMMꢁIFBSꢁUIFꢁQVNQꢁJOꢁZPVSꢁNBDIJOFꢁUVSOꢁPGGꢁBOEꢁPOꢁRVJDLMZꢁBCPVUꢁFWFSZꢁꢈꢃꢁ  
TFDPOETꢆꢁ5IJTꢁJTꢁQBSUꢁPGꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁBVUPNBUJDꢁMJOUꢁSFNPWBMꢁTZTUFNꢆ  
8IJMFꢁESBJOJOHꢁZPVSꢁNBDIJOFꢁNBZꢁHJWFꢁTFWFSBMꢁMPXꢁUIVETꢆꢁ:PVSꢁNBDIJOFꢁJTꢁDIFDLJOHꢁUIBUꢁUIFꢁ  
XBUFSꢁIBTꢁESBJOFEꢁCFGPSFꢁTQJOOJOHꢆ  
Nꢀ  
Nꢀ  
:PVSꢁ4NBSUꢀ%SJWF™ꢁXJMMꢁCFFQꢁBUꢁUIFꢁFOEꢁPGꢁUIFꢁDZDMFꢁBOEꢁJGꢁZPVꢁIBWFꢁVTFEꢁ4QJOꢁ)PMEꢁPSꢁ4PBLꢆ  
*GꢁZPVSꢁNBDIJOFꢁJTꢁCFFQJOHꢁDPOUJOVPVTMZꢁPSꢁHJWJOHꢁBꢁNVTJDBMꢁTFSJFTꢁPGꢁCFFQTꢁSFGFSꢁUPꢁQBHFꢁꢊꢊꢆ  
"VUPNBUJDꢀ-JOUꢀ4ZTUFNꢀ  
:PVSꢁ4NBSUꢀ%SJWF™ꢁIBTꢁBꢁTFMGꢁDMFBOJOHꢁMJOUꢁTZTUFNꢆꢁ*UꢁBVUPNBUJDBMMZꢁTFQBSBUFTꢁUIFꢁMJOUꢁGSPNꢁUIFꢁ  
XBTIꢁXBUFSꢅꢁUSBQQJOHꢁUIFꢁMJOUꢁCFUXFFOꢁUIFꢁJOOFSꢁBOEꢁPVUFSꢁCPXMTꢁBOEꢁGMVTIFTꢁJUꢁPVUꢁBUꢁUIFꢁFOEꢁ  
PGꢁUIFꢁXBTIꢆ  
ꢊꢀ  
 
&/  
*Gꢁ:PVSꢁ4NBSUꢁ%SJWF™ꢁ#FFQTꢁGPSꢁ)FMQ  
:PVSꢁ4NBSUꢀ%SJWF™ꢁJTꢁDBQBCMFꢁPGꢁEJBHOPTJOHꢁJUTꢁPXOꢁUSPVCMFTꢆꢁ*GꢁZPVSꢁ4NBSUꢀ%SJWF™ꢁHJWFTꢁBꢁNVTJDBMꢁ  
TFSJFTꢁPGꢁCFFQTꢁFWFSZꢁꢌꢁTFDPOETꢁJUꢁJTꢁUFMMJOHꢁZPVꢁUIBUꢁJUꢁIBTꢁBꢁQSPCMFNꢁXIJDIꢁ:06ꢁDBOꢁTPMWFꢁVTJOHꢁ  
UIFꢁDIFDLMJTUꢁCFMPXꢆ  
ꢕꢁ5IFꢁCFFQTꢁBSFꢁUIFꢁTBNFꢁTPVOEꢁZPVSꢁBVUPXBTIFSꢁNBLFTꢁXIFOꢁZPVꢁUVSOꢁJUꢁPOꢁBUꢁUIFꢁXBMMꢆ  
.VTJDBMꢀ4FSJFTꢀPGꢀ#FFQTꢊꢀ&WFSZꢀꢋꢀ4FDPOETꢀBOEꢁꢁꢁꢀ1PTTJCMFꢀ4PMVUJPOT  
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4FMFDUꢁBꢁIJHIFSꢁXBUFSꢁMFWFMꢆ  
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5PPꢁNVDIꢁXBUFSꢁGPSꢁMPBEꢁ SFGFSꢁUPꢁQBHFꢁꢈꢂꢒꢆ  
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$SFBTJOH  
0WFSMPBEJOHꢁUIFꢁXBTIFSꢁPSꢁESZFSꢆ  
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5SZꢁTFMFDUJOHꢁBꢁTMPXFSꢁTQJOꢁTQFFEꢆ  
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1PPSꢀ4PJMꢀ3FNPWBM  
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/PUꢁFOPVHIꢁEFUFSHFOUꢁGPSꢁMPBEꢁTJ[FꢁPSꢁBNPVOUꢁPGꢁTPJMꢆ  
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0WFSMPBEJOHꢁUIFꢁXBTIFSꢆ  
/PUꢁFOPVHIꢁEFUFSHFOUꢁUPꢁIPMEꢁUIFꢁMJOUꢁJOꢁTVTQFOTJPOꢆ  
0WFSESZJOHꢁJOꢁBꢁESZFSꢁDBOꢁDBVTFꢁBꢁCVJMEꢉVQꢁPGꢁTUBUJDꢁFMFDUSJDJUZꢁJOꢁTZOUIFUJDꢁGBCSJDTꢁBOEꢁDBVTFꢁUIFNꢁ  
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3FTJEVFꢀ%FUFSHFOU  
0WFSMPBEJOHꢁUIFꢁXBTIFSꢆꢁ  
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3FGFSꢁUPꢁ%FUFSHFOUꢁQBHFꢁꢀꢍꢒꢆ  
%ZFꢀ5SBOTGFS  
8BTIꢁBOEꢁESZꢁOPOꢉDPMPVSGBTUꢁDMPUIFTꢁTFQBSBUFMZꢆ  
/POꢁDPMPVSGBTUꢁDMPUIFTꢁMFGUꢁTJUUJOHꢁJOꢁBꢁXBTIFSꢁPSꢁMBVOESZꢁCBTLFUꢁDBOꢁUSBOTGFSꢁEZFꢁUPꢁPUIFSꢁDMPUIFTꢆ  
5BOHMJOH  
8BTIJOHꢁXJUIꢁUPPꢁNVDIꢁXBUFSꢁ JFꢁVOEFSMPBEJOHꢒꢁDBOꢁDBVTFꢁUIFꢁDMPUIFTꢁUPꢁUBOHMFꢁBSPVOEꢁPOFꢁBOPUIFSꢆ  
%PꢁOPUꢁMPBEꢁUIFꢁXBTIFSꢁCZꢁXSBQQJOHꢁDMPUIFTꢁBSPVOEꢁUIFꢁBHJUBUPSꢆ  
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