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6CDNGQHEQPVGPVU
5CHGV[RTGECWVKQPU
5#('6;+%105
5#('6;24'%#76+105&74+0)+056#..#6+10
5#('6;24'%#76+105&74+0)12'4#6+10
5#('6;24'%#76+105&74+0)/#+06'0#0%'144'2#+4
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5#8'&#/'07
241)4#//#$.'5'66+0)5
15&QKNEQPFGPUCVGUGRCTCVQT
QRVKQPCN
15&70+6
+05647%6+105(14(+'.&+056#..#6+10
12'4#6+0)#0&/#+06'0#0%'+05647%6+105
2+%61)4#2*5
'PGTI[TGEQXGT[
QRVKQPCN
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'0'4);4'%18'4;5;56'/5
12'4#6+10
/#+06'0#0%'
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+PUVCNNCVKQP
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'.'%64+%#.%100'%6+105
%11.+0)9#6'44'37+4'/'065
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1RGTCVKPIKPUVTWEVKQPU
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+0+6+#.56#4672
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&74+0)12'4#6+10
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6#-+0)1761(12'4#6+10
/CKPVGPCPEG
24'8'06+8'/#+06'0#0%'5%*'&7.'
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1+.52'%+(+%#6+105
1+.#0&1+.(+.6'4%*#0)'
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4'#&+0)510&+52.#;
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+(&
)WKFGNKPGUHQTKPURGEVKQP
+PUVTWEVKQPOCPWCN
5CHGV[RTGECWVKQPU
5CHGV[KEQPU
'ZRNCPCVKQP
&CPIGTHQTNKHG
9CTPKPI
+ORQTVCPVPQVG
5CHGV[RTGECWVKQPUFWTKPIKPUVCNNCVKQP
#NNTGURQPUKDKNKV[HQTCP[FCOCIGQTKPLWT[TGUWNVKPIHTQOPGINGEVKPIVJGUG
RTGECWVKQPUQTPQPQDUGTXCPEGQHVJGPQTOCNECWVKQPCPFECTGTGSWKTGFHQT
KPUVCNNCVKQPQRGTCVKQPOCKPVGPCPEGCPFTGRCKTGXGPKHPQVGZRTGUUN[
UVCVGFYKNNDGFKUENCKOGFD[VJGOCPWHCEVWTGT
)GPGTCNRTGECWVKQPU
6JGQRGTCVQTOWUVGORNQ[UCHGYQTMKPIRTCEVKEGUCPFQDUGTXGCNNTGNCVGFNQECNYQTMUCHGV[
TGSWKTGOGPVUCPFTGIWNCVKQPU
+HCP[QHVJGHQNNQYKPIUVCVGOGPVUFQGUPQVEQORN[YKVJNQECNNGIKUNCVKQPVJGUVTKEVGTQHVJGVYQ
UJCNNCRRN[
+PUVCNNCVKQPQRGTCVKQPOCKPVGPCPEGCPFTGRCKTYQTMOWUVQPN[DGRGTHQTOGFD[CWVJQTKUGFVTCKPGF
URGEKCNKUGFRGTUQPPGN
6JGEQORTGUUQTKUPQVEQPUKFGTGFECRCDNGQHRTQFWEKPICKTQHDTGCVJKPISWCNKV[(QTCKTQHDTGCVJKPI
SWCNKV[VJGEQORTGUUGFCKTOWUVDGCFGSWCVGN[RWTKHKGFCEEQTFKPIVQNQECNNGIKUNCVKQPCPF
UVCPFCTFU
$GHQTGCP[OCKPVGPCPEGTGRCKTYQTMCFLWUVOGPVQTCP[QVJGTPQPTQWVKPGEJGEMUUVQRVJG
EQORTGUUQTRTGUUVJGGOGTIGPE[UVQRDWVVQPUYKVEJQHHVJGXQNVCIGCPFFGRTGUUWTKUGVJG
EQORTGUUQT+PCFFKVKQPVJGRQYGTKUQNCVKPIUYKVEJOWUVDGQRGPGFCPFNQEMGF
0GXGTRNC[YKVJEQORTGUUGFCKT&QPQVCRRN[VJGCKTVQ[QWTUMKPQTFKTGEVCPCKTUVTGCOCVRGQRNG
0GXGTWUGVJGCKTVQENGCPFKTVHTQO[QWTENQVJGU9JGPWUKPIVJGCKTVQENGCPGSWKROGPVFQUQYKVJ
GZVTGOGECWVKQPCPFYGCTG[GRTQVGEVKQP
+PUVTWEVKQPOCPWCN
2TGECWVKQPUFWTKPIKPUVCNNCVKQP
6JGOCEJKPGOWUVQPN[DGNKHVGFWUKPIUWKVCDNGGSWKROGPVKPCEEQTFCPEGYKVJNQECNUCHGV[
TGIWNCVKQPU.QQUGQTRKXQVKPIRCTVUOWUVDGUGEWTGN[HCUVGPGFDGHQTGNKHVKPI+VKUUVTKEVN[HQTDKFFGP
VQFYGNNQTUVC[KPVJGTKUM\QPGWPFGTCNKHVGFNQCF.KHVKPICEEGNGTCVKQPCPFFGEGNGTCVKQPOWUVDG
MGRVYKVJKPUCHGNKOKVU9GCTCUCHGV[JGNOGVYJGPYQTMKPIKPVJGCTGCQHQXGTJGCFQTNKHVKPI
GSWKROGPV
2NCEGVJGOCEJKPGYJGTGVJGCODKGPVCKTKUCUEQQNCPFENGCPCURQUUKDNG+HPGEGUUCT[KPUVCNNC
UWEVKQPFWEV0GXGTQDUVTWEVVJGCKTKPNGV%CTGOWUVDGVCMGPVQOKPKOKUGVJGGPVT[QHOQKUVWTGCV
VJGKPNGVCKT
#P[DNCPMKPIHNCPIGURNWIUECRUCPFFGUKEECPVDCIUOWUVDGTGOQXGFDGHQTGEQPPGEVKPIVJG
RKRGU
#KTJQUGUOWUVDGQHEQTTGEVUK\GCPFUWKVCDNGHQTVJGYQTMKPIRTGUUWTG0GXGTWUGHTC[GFFCOCIGF
QTYQTPJQUGU&KUVTKDWVKQPRKRGUCPFEQPPGEVKQPUOWUVDGQHVJGEQTTGEVUK\GCPFUWKVCDNGHQTVJG
YQTMKPIRTGUUWTG
6JGCURKTCVGFCKTOWUVDGHTGGQHHNCOOCDNGHWOGUXCRQWTUCPFRCTVKENGUGIRCKPVUQNXGPVUVJCV
ECPNGCFVQKPVGTPCNHKTGQTGZRNQUKQP
#TTCPIGVJGCKTKPVCMGUQVJCVNQQUGENQVJKPIYQTPD[RGQRNGECPPQVDGUWEMGFKP
'PUWTGVJCVVJGFKUEJCTIGRKRGHTQOVJGEQORTGUUQTVQVJGCHVGTEQQNGTQTCKTPGVKUHTGGVQGZRCPF
WPFGTJGCVCPFVJCVKVKUPQVKPEQPVCEVYKVJQTENQUGVQHNCOOCDNGOCVGTKCNU
0QGZVGTPCNHQTEGOC[DGGZGTVGFQPVJGCKTQWVNGVXCNXGVJGEQPPGEVGFRKRGOWUVDGHTGGQHUVTCKP
+HTGOQVGEQPVTQNKUKPUVCNNGFVJGOCEJKPGOWUVDGCTCENGCTUKIPUVCVKPI�)'46JKUOCEJKPGKU
TGOQVGN[EQPVTQNNGFCPFOC[UVCTVYKVJQWVYCTPKPI
6JGQRGTCVQTJCUVQOCMGUWTGVJCVVJGOCEJKPGKUUVQRRGFCPFVJCVVJGKUQNCVKPIUYKVEJKUQRGP
CPFNQEMGFDGHQTGCP[OCKPVGPCPEGQTTGRCKT#UCHWTVJGTUCHGIWCTFRGTUQPUUYKVEJKPIQP
TGOQVGN[EQPVTQNNGFOCEJKPGUUJCNNVCMGCFGSWCVGRTGECWVKQPUVQGPUWTGVJCVVJGTGKUPQQPG
EJGEMKPIQTYQTMKPIQPVJGOCEJKPG6QVJKUGPFCUWKVCDNGPQVKEGUJCNNDGCHHKZGFVQVJGUVCTV
GSWKROGPV
#KTEQQNGFOCEJKPGUOWUVDGKPUVCNNGFKPUWEJCYC[VJCVCPCFGSWCVGHNQYQHEQQNKPICKTKU
CXCKNCDNGCPFVJCVVJGGZJCWUVGFCKTFQGUPQVTGEKTEWNCVGVQVJGEQORTGUUQTCKTKPNGVQTEQQNKPICKT
KPNGV
6JGGNGEVTKECNEQPPGEVKQPUOWUVEQTTGURQPFVQVJGNQECNEQFGU6JGOCEJKPGUOWUVDGGCTVJGFCPF
RTQVGEVGFCICKPUVUJQTVEKTEWKVUD[HWUGUKPCNNRJCUGU#NQEMCDNGRQYGTKUQNCVKPIUYKVEJOWUVDG
KPUVCNNGFPGCTVJGEQORTGUUQT
1POCEJKPGUYKVJCWVQOCVKEUVCTVUVQRU[UVGOQTKHVJGCWVQOCVKETGUVCTVHWPEVKQPCHVGTXQNVCIG
HCKNWTGKUCEVKXCVGFCUKIPUVCVKPI6JKUOCEJKPGOC[UVCTVYKVJQWVYCTPKPIOWUVDGCHHKZGFPGCT
VJGKPUVTWOGPVRCPGN
+POWNVKRNGEQORTGUUQTU[UVGOUOCPWCNXCNXGUOWUVDGKPUVCNNGFVQKUQNCVGGCEJEQORTGUUQT0QP
TGVWTPXCNXGU
EJGEMXCNXGUOWUVPQVDGTGNKGFWRQPHQTKUQNCVKPIRTGUUWTGU[UVGOU
0GXGTTGOQXGQTVCORGTYKVJVJGUCHGV[FGXKEGUIWCTFUQTKPUWNCVKQPHKVVGFQPVJGOCEJKPG'XGT[
RTGUUWTGXGUUGNQTCWZKNKCT[KPUVCNNGFQWVUKFGVJGOCEJKPGVQEQPVCKPCKTCDQXGCVOQURJGTKERTGUUWTG
OWUVDGRTQVGEVGFD[CRTGUUWTGTGNKGXKPIFGXKEGQTFGXKEGUCUTGSWKTGF
2KRGYQTMQTQVJGTRCTVUYKVJCVGORGTCVWTGKPGZEGUUQHu%
u(CPFYJKEJOC[DG
CEEKFGPVCNN[VQWEJGFD[RGTUQPPGNKPPQTOCNQRGTCVKQPOWUVDGIWCTFGFQTKPUWNCVGF1VJGTJKIJ
VGORGTCVWTGRKRGYQTMOWUVDGENGCTN[OCTMGF
(QTYCVGTEQQNGFOCEJKPGUVJGEQQNKPIYCVGTU[UVGOKPUVCNNGFQWVUKFGVJGOCEJKPGJCUVQDG
RTQVGEVGFD[CUCHGV[FGXKEGYKVJUGVRTGUUWTGCEEQTFKPIVQVJGOCZKOWOEQQNKPIYCVGTKPNGV
RTGUUWTG
+PUVTWEVKQPOCPWCN
+HVJGITQWPFKUPQVNGXGNQTECPDGUWDLGEVVQXCTKCDNGKPENKPCVKQPEQPUWNVVJGOCPWHCEVWTGT
#NUQEQPUWNVHQNNQYKPIUCHGV[RTGECWVKQPU5CHGV[RTGECWVKQPUFWTKPIQRGTCVKQPCPF
5CHGV[RTGECWVKQPUFWTKPIOCKPVGPCPEG
6JGUGRTGECWVKQPUCRRN[VQOCEJKPGT[RTQEGUUKPIQTEQPUWOKPICKTQTKPGTVICU
2TQEGUUKPIQHCP[QVJGTICUTGSWKTGUCFFKVKQPCNUCHGV[RTGECWVKQPUV[RKECNVQVJG
CRRNKECVKQPYJKEJCTGPQVKPENWFGFJGTGKP
5QOGRTGECWVKQPUCTGIGPGTCNCPFEQXGTUGXGTCNOCEJKPGV[RGUCPFGSWKROGPVJGPEG
UQOGUVCVGOGPVUOC[PQVCRRN[VQ[QWTOCEJKPG
5CHGV[RTGECWVKQPUFWTKPIQRGTCVKQP
#NNTGURQPUKDKNKV[HQTCP[FCOCIGQTKPLWT[TGUWNVKPIHTQOPGINGEVKPIVJGUG
RTGECWVKQPUQTPQPQDUGTXCPEGQHVJGPQTOCNECWVKQPCPFECTGTGSWKTGFHQT
KPUVCNNCVKQPQRGTCVKQPOCKPVGPCPEGCPFTGRCKTGXGPKHPQVGZRTGUUN[
UVCVGFYKNNDGFKUENCKOGFD[VJGOCPWHCEVWTGT
)GPGTCNRTGECWVKQPU
6JGQRGTCVQTOWUVGORNQ[UCHGYQTMKPIRTCEVKEGUCPFQDUGTXGCNNTGNCVGFNQECNYQTMUCHGV[
TGSWKTGOGPVUCPFTGIWNCVKQPU
+HCP[QHVJGHQNNQYKPIUVCVGOGPVUFQGUPQVEQORN[YKVJNQECNNGIKUNCVKQPVJGUVTKEVGTQHVJGVYQ
UJCNNCRRN[
+PUVCNNCVKQPQRGTCVKQPOCKPVGPCPEGCPFTGRCKTYQTMOWUVQPN[DGRGTHQTOGFD[CWVJQTKUGFVTCKPGF
URGEKCNKUGFRGTUQPPGN
6JGEQORTGUUQTKUPQVEQPUKFGTGFECRCDNGQHRTQFWEKPICKTQHDTGCVJKPISWCNKV[(QTCKTQHDTGCVJKPI
SWCNKV[VJGEQORTGUUGFCKTOWUVDGCFGSWCVGN[RWTKHKGFCEEQTFKPIVQNQECNNGIKUNCVKQPCPF
UVCPFCTFU
$GHQTGCP[OCKPVGPCPEGTGRCKTYQTMCFLWUVOGPVQTCP[QVJGTPQPTQWVKPGEJGEMUUVQRVJG
EQORTGUUQTRTGUUVJGGOGTIGPE[UVQRDWVVQPUYKVEJQHHVJGXQNVCIGCPFFGRTGUUWTKUGVJG
EQORTGUUQT+PCFFKVKQPVJGRQYGTKUQNCVKPIUYKVEJOWUVDGQRGPGFCPFNQEMGF
0GXGTRNC[YKVJEQORTGUUGFCKT&QPQVCRRN[VJGCKTVQ[QWTUMKPQTFKTGEVCPCKTUVTGCOCVRGQRNG
0GXGTWUGVJGCKTVQENGCPFKTVHTQO[QWTENQVJGU9JGPWUKPIVJGCKTVQENGCPGSWKROGPVFQUQYKVJ
GZVTGOGECWVKQPCPFYGCTG[GRTQVGEVKQP
2TGECWVKQPUFWTKPIQRGTCVKQP
7UGQPN[VJGEQTTGEVV[RGCPFUK\GQHJQUGGPFHKVVKPIUCPFEQPPGEVKQPU9JGPDNQYKPIVJTQWIJC
JQUGQTCKTNKPGGPUWTGVJCVVJGQRGPGPFKUJGNFUGEWTGN[#HTGGGPFYKNNYJKRCPFOC[ECWUG
KPLWT[/CMGUWTGVJCVCJQUGKUHWNN[FGRTGUUWTK\GFDGHQTGFKUEQPPGEVKPIKV
2GTUQPUUYKVEJKPIQPTGOQVGN[EQPVTQNNGFOCEJKPGUUJCNNVCMGCFGSWCVGRTGECWVKQPUVQGPUWTGVJCV
VJGTGKUPQQPGEJGEMKPIQTYQTMKPIQPVJGOCEJKPG6QVJKUGPFCUWKVCDNGPQVKEGUJCNNDGCHHKZGF
VQVJGTGOQVGUVCTVGSWKROGPV
0GXGTQRGTCVGVJGOCEJKPGYJGPVJGTGKUCRQUUKDKNKV[QHVCMKPIKPHNCOOCDNGQTVQZKEHWOGU
XCRQWTUQTRCTVKENGU
+PUVTWEVKQPOCPWCN
0GXGTQRGTCVGVJGOCEJKPGDGNQYQTKPGZEGUUQHKVUNKOKVTCVKPIU
-GGRCNNDQF[YQTMFQQTUUJWVFWTKPIQRGTCVKQP6JGFQQTUOC[DGQRGPGFHQTUJQTVRGTKQFUQPN[
GIVQECTT[QWVTQWVKPGEJGEMU9GCTGCTRTQVGEVQTUYJGPQRGPKPICFQQT
2GQRNGUVC[KPIKPGPXKTQPOGPVUQTTQQOUYJGTGVJGUQWPFRTGUUWTGNGXGNTGCEJGUQTGZEGGFU
F$
#UJCNNYGCTGCTRTQVGEVQTU
2GTKQFKECNN[EJGEMVJCV
#NNIWCTFUCTGKPRNCEGCPFUGEWTGN[HCUVGPGF
#NNJQUGUCPFQTRKRGUKPUKFGVJGOCEJKPGCTGKPIQQFEQPFKVKQPUGEWTGCPFPQVTWDDKPI
6JGTGCTGPQNGCMU
#NNHCUVGPGTUCTGVKIJV
#NNGNGEVTKECNNGCFUCTGUGEWTGCPFKPIQQFQTFGT
5CHGV[XCNXGUCPFQVJGTRTGUUWTGTGNKGHFGXKEGUCTGPQVQDUVTWEVGFD[FKTVQTRCKPV
#KTQWVNGVXCNXGCPFCKTPGVKGRKRGUEQWRNKPIUOCPKHQNFUXCNXGUJQUGUGVECTGKPIQQF
TGRCKTHTGGQHYGCTQTCDWUG
+HYCTOEQQNKPICKTHTQOEQORTGUUQTUKUWUGFKPCKTJGCVKPIU[UVGOUGIVQYCTOWRCYQTMTQQO
VCMGRTGECWVKQPUCICKPUVCKTRQNNWVKQPCPFRQUUKDNGEQPVCOKPCVKQPQHVJGDTGCVJKPICKT
&QPQVTGOQXGCP[QHQTVCORGTYKVJVJGUQWPFFCORKPIOCVGTKCN
0GXGTTGOQXGQTVCORGTYKVJVJGUCHGV[FGXKEGUIWCTFUQTKPUWNCVKQPUHKVVGFQPVJGOCEJKPG'XGT[
RTGUUWTGXGUUGNQTCWZKNKCT[KPUVCNNGFQWVUKFGVJGOCEJKPGVQEQPVCKPCKTCDQXGCVOQURJGTKERTGUUWTG
UJCNNDGRTQVGEVGFD[CRTGUUWTGTGNKGXKPIFGXKEGQTFGXKEGUCUTGSWKTGF
#NUQEQPUWNVHQNNQYKPIUCHGV[RTGECWVKQPU5CHGV[RTGECWVKQPUFWTKPIKPUVCNNCVKQPCPF
5CHGV[RTGECWVKQPUFWTKPIOCKPVGPCPEG
6JGUGRTGECWVKQPUCRRN[VQOCEJKPGT[RTQEGUUKPIQTEQPUWOKPICKTQTKPGTVICU
2TQEGUUKPIQHCP[QVJGTICUTGSWKTGUCFFKVKQPCNUCHGV[RTGECWVKQPUV[RKECNVQVJG
CRRNKECVKQPYJKEJCTGPQVKPENWFGFJGTGKP
5QOGRTGECWVKQPUCTGIGPGTCNCPFEQXGTUGXGTCNOCEJKPGV[RGUCPFGSWKROGPVJGPEG
UQOGUVCVGOGPVUOC[PQVCRRN[VQ[QWTOCEJKPG
5CHGV[RTGECWVKQPUFWTKPIOCKPVGPCPEGQTTGRCKT
#NNTGURQPUKDKNKV[HQTCP[FCOCIGQTKPLWT[TGUWNVKPIHTQOPGINGEVKPIVJGUG
RTGECWVKQPUQTPQPQDUGTXCPEGQHVJGPQTOCNECWVKQPCPFECTGTGSWKTGFHQT
KPUVCNNCVKQPQRGTCVKQPOCKPVGPCPEGCPFTGRCKTGXGPKHPQVGZRTGUUN[
UVCVGFYKNNDGFKUENCKOGFD[VJGOCPWHCEVWTGT
)GPGTCNRTGECWVKQPU
6JGQRGTCVQTOWUVGORNQ[UCHGYQTMKPIRTCEVKEGUCPFQDUGTXGCNNTGNCVGFNQECNYQTMUCHGV[
TGSWKTGOGPVUCPFTGIWNCVKQPU
+PUVTWEVKQPOCPWCN
+HCP[QHVJGHQNNQYKPIUVCVGOGPVUFQGUPQVEQORN[YKVJNQECNNGIKUNCVKQPVJGUVTKEVGTQHVJGVYQ
UJCNNCRRN[
+PUVCNNCVKQPQRGTCVKQPOCKPVGPCPEGCPFTGRCKTYQTMOWUVQPN[DGRGTHQTOGFD[CWVJQTKUGFVTCKPGF
URGEKCNKUGFRGTUQPPGN
6JGEQORTGUUQTKUPQVEQPUKFGTGFECRCDNGQHRTQFWEKPICKTQHDTGCVJKPISWCNKV[(QTCKTQHDTGCVJKPI
SWCNKV[VJGEQORTGUUGFCKTOWUVDGCFGSWCVGN[RWTKHKGFCEEQTFKPIVQNQECNNGIKUNCVKQPCPF
UVCPFCTFU
$GHQTGCP[OCKPVGPCPEGTGRCKTYQTMCFLWUVOGPVQTCP[QVJGTPQPTQWVKPGEJGEMUUVQRVJG
EQORTGUUQTRTGUUVJGGOGTIGPE[UVQRDWVVQPUYKVEJQHHVJGXQNVCIGCPFFGRTGUUWTKUGVJG
EQORTGUUQT+PCFFKVKQPVJGRQYGTKUQNCVKPIUYKVEJOWUVDGQRGPGFCPFNQEMGF
0GXGTRNC[YKVJEQORTGUUGFCKT&QPQVCRRN[VJGCKTVQ[QWTUMKPQTFKTGEVCPCKTUVTGCOCVRGQRNG
0GXGTWUGVJGCKTVQENGCPFKTVHTQO[QWTENQVJGU9JGPWUKPIVJGCKTVQENGCPGSWKROGPVFQUQYKVJ
GZVTGOGECWVKQPCPFYGCTG[GRTQVGEVKQP
2TGECWVKQPUFWTKPIOCKPVGPCPEGQTTGRCKT
#NYC[UYGCTUCHGV[INCUUGU
7UGQPN[VJGEQTTGEVVQQNUHQTOCKPVGPCPEGCPFTGRCKTYQTM
7UGQPN[IGPWKPGURCTGRCTVU
#NNOCKPVGPCPEGYQTMUJCNNQPN[DGWPFGTVCMGPYJGPVJGOCEJKPGJCUEQQNGFFQYP
#YCTPKPIUKIPDGCTKPICNGIGPFUWEJCUYQTMKPRTQITGUUFQPQVUVCTVUJCNNDGCVVCEJGFVQVJG
UVCTVKPIGSWKROGPV
2GTUQPUUYKVEJKPIQPTGOQVGN[EQPVTQNNGFOCEJKPGUUJCNNVCMGCFGSWCVGRTGECWVKQPUVQGPUWTGVJCV
VJGTGKUPQQPGEJGEMKPIQTYQTMKPIQPVJGOCEJKPG6QVJKUGPFCUWKVCDNGPQVKEGUJCNNDGCHHKZGF
VQVJGTGOQVGUVCTVGSWKROGPV
%NQUGVJGEQORTGUUQTCKTQWVNGVXCNXGDGHQTGEQPPGEVKPIQTFKUEQPPGEVKPICRKRG
$GHQTGTGOQXKPICP[RTGUUWTK\GFEQORQPGPVGHHGEVKXGN[KUQNCVGVJGOCEJKPGHTQOCNNUQWTEGUQH
RTGUUWTGCPFTGNKGXGVJGGPVKTGU[UVGOQHRTGUUWTG
0GXGTWUGHNCOOCDNGUQNXGPVUQTECTDQPVGVTCEJNQTKFGHQTENGCPKPIRCTVU6CMGUCHGV[RTGECWVKQPU
CICKPUVVQZKEXCRQWTUQHENGCPKPINKSWKFU
5ETWRWNQWUN[QDUGTXGENGCPNKPGUUFWTKPIOCKPVGPCPEGCPFTGRCKT-GGRFKTVCYC[D[EQXGTKPIVJG
RCTVUCPFGZRQUGFQRGPKPIUYKVJCENGCPENQVJRCRGTQTVCRG
0GXGTYGNFQTRGTHQTOCP[QRGTCVKQPKPXQNXKPIJGCVPGCTVJGQKNU[UVGO1KNVCPMUOWUVDG
EQORNGVGN[RWTIGFGID[UVGCOENGCPKPIDGHQTGECTT[KPIQWVUWEJQRGTCVKQPU0GXGTYGNFQPQT
KPCP[YC[OQFKH[RTGUUWTGXGUUGNU
9JGPGXGTVJGTGKUCPKPFKECVKQPQTCP[UWURKEKQPVJCVCPKPVGTPCNRCTVQHCOCEJKPGKUQXGTJGCVGF
VJGOCEJKPGUJCNNDGUVQRRGFDWVPQKPURGEVKQPEQXGTUUJCNNDGQRGPGFDGHQTGUWHHKEKGPVEQQNKPI
VKOGJCUGNCRUGFVJKUVQCXQKFVJGTKUMQHURQPVCPGQWUKIPKVKQPQHVJGQKNXCRQWTYJGPCKTKU
CFOKVVGF
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CPFVJCVVJG[HWPEVKQPEQTTGEVN[+HTGOQXGFEJGEMVJCVVJGEQWRNKPIIWCTFQHVJGEQORTGUUQTFTKXG
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UGRCTCVQTXGUUGNHQTECTDQPFGRQUKVUKHGZEGUUKXGVJGFGRQUKVUUJQWNFDGTGOQXGF
2TQVGEVVJGOQVQTCKTHKNVGTGNGEVTKECNCPFTGIWNCVKPIEQORQPGPVUGVEVQRTGXGPVOQKUVWTGHTQO
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U[UVGOUQHVJGEQORTGUUQTKUKPIQQFEQPFKVKQP+HFCOCIGFTGRNCEGKVD[IGPWKPGOCVGTKCNHTQO
VJGOCPWHCEVWTGTVQRTGXGPVVJGUQWPFRTGUUWTGNGXGNHTQOKPETGCUKPI
0GXGTWUGECWUVKEUQNXGPVUYJKEJECPFCOCIGOCVGTKCNUQHVJGCKTPGVGIRQN[ECTDQPCVGDQYNU
6JGHQNNQYKPIUCHGV[RTGECWVKQPUCTGUVTGUUGFYJGPJCPFNKPITGHTKIGTCPV
0GXGTKPJCNGTGHTKIGTCPVXCRQWTU%JGEMVJCVVJGYQTMKPICTGCKUCFGSWCVGN[XGPVKNCVGFKH
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YCVGT+HNKSWKFTGHTKIGTCPVEQPVCEVUVJGUMKPVJTQWIJENQVJKPIPGXGTVGCTQHHQTTGOQXGVJGNCVVGT
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5YKVEJQHHVJGXQNVCIGCPFTGOGF[VJGVTQWDNG#HVGTTGOGF[KPICPFYJGPVJGUJWVFQYPEQPFKVKQP
JCUFKUCRRGCTGFUYKVEJQPVJGXQNVCIGCPFRTGUUVJGMG[4UGV
(
2TGUUVJGMG[U/GPWCPF/CKPVQTGVWTPVQVJG/CKPUETGGPCPFTGUVCTVVJGEQORTGUUQTD[OGCPU
QHUVCTVDWVVQP
/QVQTQXGTNQCFTGUGV
5YKVEJQHHVJGXQNVCIGCPFTGOGF[VJGVTQWDNG6JGQXGTNQCFTGNC[
(CPFHCPEKTEWKVDTGCMGT
3
OWUVDGTGUGVOCPWCNN[5YKVEJQPVJGXQNVCIGCPFRTGUUVJGMG[4UGV
(
2TGUUVJGMG[U/GPWCPF/CKPVQTGVWTPVQVJG/CKPUETGGPCPFTGUVCTVVJGEQORTGUUQTD[OGCPU
QHUVCTVDWVVQP
#UJWVFQYPYCTPKPIOGUUCIGGZKUVU
#UJWVFQYPYCTPKPINGXGNKUCRTQITCOOCDNGNGXGNDGNQYVJGUJWVFQYPNGXGN
+HCUJWVFQYPYCTPKPIGZKUVU.'&
KUNKV6JG/CKPUETGGPYKNNEJCPIGKPVQCUETGGPUKOKNCTVQVJG
QPGDGNQY
%QORT1WVNGV
DCT
5JWVF
9CTP
/GPW
(
7PNF
(
(
6JGKPFKECVQTU
CTGHNCUJKPI6JGOGUUCIG5JWVF9CTPCRRGCTUCNVGTPCVGN[YKVJVJG
OGUUCIGUKPFKECVKPIYJGVJGTVJGEQORTGUUQTTWPUWPNQCFGFQTNQCFGF
2TGUUVJGMG[/GPW
(CPFVJGVCDWNCVQTMG[
VQUGNGEVVJG5VCVWUFCVCOGPWVJGQRVKQP
2TQVGEVKQPKUHNCUJKPI
5ETQNNVQVJKUQRVKQPCPFUGNGEVKVD[RTGUUKPIVJGVCDWNCVQTMG[
#UETGGPUKOKNCTVQVJGQPGDGNQY
CRRGCTU
+PUVTWEVKQPOCPWCN
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u%
5JFY
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/GPW
(
(
(
6JGUETGGPKPFKECVGUVJCVVJGVGORGTCVWTGCVVJGQWVNGVQHVJGEQORTGUUQTGNGOGPVGZEGGFUVJG
RTQITCOOGFUJWVFQYPYCTPKPINGXGN
+HPGEGUUCT[UVQRVJGEQORTGUUQTD[OGCPUQHUVQRDWVVQP
CPFYCKVWPVKNKVJCUUVQRRGF
5YKVEJQHHVJGXQNVCIGKPURGEVCPFTGOGF[
6JGYCTPKPIOGUUCIGYKNNFKUCRRGCTCWVQOCVKECNN[CUUQQPCUVJGYCTPKPIEQPFKVKQPFKUCRRGCTU
#UGTXKEGYCTPKPIGZKUVU
.'&
KUNKV6JG/CKPUETGGPYKNNEJCPIGKPVQCUETGGPUKOKNCTVQVJGQPGDGNQY
%QORT1WVNGV
DCT
5GTX4GSWKT
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(
7PNF
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(
6JGKPFKECVQTU
CTGHNCUJKPICPFVJGUGTXKEGYCTPKPIOGUUCIGCRRGCTUCNVGTPCVGN[YKVJVJG
OGUUCIGUKPFKECVKPIYJGVJGTVJGEQORTGUUQTTWPUWPNQCFGFQTNQCFGF
2TGUUVJGMG[/GPW
(CPFVJGVCDWNCVQTMG[
VQUGNGEVVJG5VCVWUFCVCOGPWVJGQRVKQP
5GTXKEGKUHNCUJKPI
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VYQQRVKQPUOC[HNCUJ
2NCPUKHCUGTXKEGRNCPKPVGTXCNKUGZEGGFGF
5VQRVJGEQORTGUUQTCPFUYKVEJQHHVJGXQNVCIG
+HVJGUGTXKEGOGUUCIGYCUTGHGTTKPIVQ2NCPUECTT[QWVVJGUGTXKEGCEVKQPUTGNCVGFVQVJGKPFKECVGF
RNCPU4GUGVVJGVKOGTUQHVJGTGNCVGFRNCPU%QPVCEV[QWT#VNCU%QREQ%WUVQOGT%GPVTG5GGUGEVKQP
5GTXKEGOGPW
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.'&
KUNKVCPFCYCTPKPIOGUUCIGYKNNCRRGCTQPVJGUETGGP
6JGKPFKECVQTU
CTGHNCUJKPICPFVJGYCTPKPIOGUUCIGCRRGCTUCNVGTPCVGN[YKVJVJGOGUUCIGU
KPFKECVKPIYJGVJGTVJGEQORTGUUQTTWPUWPNQCFGFQTNQCFGF6JKUYCTPKPIKPFKECVGUVJCV
1PYCVGTEQQNGFEQORTGUUQTUVJGEQQNKPIYCVGTVGORGTCVWTGGZEGGFUVJGRTQITCOOGFYCTPKPI
NGXGN
1P(WNN(GCVWTGEQORTGUUQTUYKVJ+(&FT[GTVJGFGYRQKPVVGORGTCVWTGKUVQQJKIJKPTGNCVKQPVQ
VJGCODKGPVVGORGTCVWTG
5VQRVJGEQORTGUUQTCPFUYKVEJQHHVJGXQNVCIG+PURGEVVJGEQORTGUUQTCPFTGOGF[
+PUVTWEVKQPOCPWCN
/GCUWTGFFCVCOGPW
%QPVTQNRCPGN
(WPEVKQP
6QECNNWRKPHQTOCVKQPTGICTFKPIVJGCEVWCNN[OGCUWTGFFCVCCPFVJGUVCVWUQHUQOGKPRWVUUWEJCUVJG
OQVQTQXGTNQCFRTQVGEVKQP%QPUWNVVJGOGPWHNQYKPUGEVKQP%QPVTQNRTQITCOU
2TQEGFWTG
5VCTVKPIHTQOVJG/CKPUETGGP
UGG/CKPUETGGPOGPW
2TGUUVJGMG[/GPW
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2TGUUVJGCTTQYFQYPMG[
WPVKN/GCUWTGFFCVCKUHQNNQYGFD[CJQTK\QPVCNCTTQY
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$[RTGUUKPIVJGUETQNNMG[U
CPWODGTQHCEVWCNN[OGCUWTGFFCVCECPDGHQWPF
+HQPGQHVJGUGPUQTUKUNKPMGFVQCUJWVFQYPUGTXKEGQTYCTPKPIHWPEVKQPDQVJVJGCEVWCNN[
OGCUWTGFXCNWGCUYGNNCUVJGEQTTGURQPFKPIUJWVFQYPYCTPKPIQTUGTXKEGNGXGNECPDGECNNGFWRD[
RTGUUKPIMG[
%QWPVGTUOGPW
%QPVTQNRCPGN
(WPEVKQP
6QECNNWR
6JGTWPPKPIJQWTU
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6JGNQCFGFJQWTU
6JGPWODGTQHOQVQTUVCTVU
6JGPWODGTQHJQWTUVJGTGIWNCVQT
OQFWNGJCUDGGPWPFGTVGPUKQP
6JGPWODGTQHNQCFE[ENGU
2TQEGFWTG
5VCTVKPIHTQOVJG/CKPUETGGP
UGG/CKPUETGGPOGPW
2TGUUVJGMG[/GPW
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2TGUUVJGCTTQYFQYPMG[
WPVKN%QWPVGTUKUHQNNQYGFD[CJQTK\QPVCNCTTQY
2TGUUVJGVCDWNCVQTMG[
VQCEVKXCVGVJGOGPW
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VJGCDQXGOGPVKQPGFFCVCECPDGHQWPF
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4WPPKPI*QWTU
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JTU
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(
(
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6GUVOGPW
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6QECTT[QWVCFKURNC[VGUVKGVQEJGEMYJGVJGTVJGFKURNC[CPF.'&UCTGUVKNNKPVCEV
2TQEGFWTG
5VCTVKPIHTQOVJG/CKPUETGGP
UGG/CKPUETGGPOGPW
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2TGUUCTTQYFQYPMG[
WPVKN6GUVKUHQNNQYGFD[CJQTK\QPVCNCTTQY
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6JGQRVKQP&KURNC[VGUVYKNNDGHQNNQYGFD[CJQTK\QPVCNCTTQY
6QVGUVVJGFKURNC[RTGUUVJGMG[
&WTKPIVGUVKPIVJGTGIWNCVQTYKNNIGPGTCVGCUGTKGUQHRCVVGTPU
QPVJGFKURNC[YJKEJGPCDNGVJGQRGTCVQTVQEJGEMVJCVGCEJRKZGNUVKNNHWPEVKQPUPQTOCNN[CVVJGUCOG
VKOGVJG.'&UCTGNKV
/QFKH[RCTCOGVGTUOGPW
(WPEVKQP
6QOQFKH[CPWODGTQHRTQITCOOCDNGUGVVKPIU
2CTCOGVGTU
UGGUGEVKQP/QFKH[KPIRCTCOGVGTU
2TQVGEVKQPU
UGGUGEVKQP/QFKH[KPIRTQVGEVKQPU
5GTXKEGRNCPUGVVKPIU
UGGUGEVKQP/QFKH[KPIUGTXKEGRNCPUGVVKPIU
%NQEMHWPEVKQPUGVVKPIU
UGGUGEVKQP/QFKH[KPIENQEMHWPEVKQPUGVVKPIU
%QPHKIWTCVKQPUGVVKPIU
UGGUGEVKQP/QFKH[KPIEQPHKIWTCVKQPUGVVKPIU
/QFKH[KPIRCTCOGVGTU
%QPVTQNRCPGN
(WPEVKQP
6QOQFKH[CPWODGTQHRCTCOGVGTU%QPUWNVVJGOGPWHNQYKPUGEVKQP%QPVTQNRTQITCOU
2TQEGFWTG
5VCTVKPIHTQOVJG/CKPUETGGP
UGG/CKPUETGGPOGPW
2TGUUVJGMG[/GPW
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2TGUUVJGCTTQYFQYPMG[
WPVKN/QFKH[2CTCOUKUHQNNQYGFD[CJQTK\QPVCNCTTQY
#EVKXCVGVJGOGPWD[RTGUUKPIVJGVCDWNCVQTMG[
6JGHKTUVKVGO2CTCOGVGTUYKNNDGHQNNQYGFD[CJQTK\QPVCNCTTQY
2TGUUVJGVCDWNCVQTMG[
VJGHKTUVKVGO.QCFKPI2TGUUCPFKVUUGVVKPIYKNNCRRGCT
2TGUUVJGCTTQYFQYPMG[
WPVKNVJGRCTCOGVGTVQDGOQFKHKGFKUHQNNQYGFD[CJQTK\QPVCNCTTQY
+PUVTWEVKQPOCPWCN
/QFKH[KPIVJGNQCFKPICPFWPNQCFKPIRTGUUWTGU
+HFGUKTGFVJGQRGTCVQTECPRTQITCOVYQRTGUUWTGDCPFU
DCPFCPFDCPFYKVJFKHHGTGPVNQCFKPICPF
WPNQCFKPIRTGUUWTGU6JGUGVVKPIUHQTDCPFCTGKPFKECVGFCU.QCFKPI2TGUUCPF7PNQCFKPI2TGUU
VJGUGVVKPIUHQTDCPFCTGKPFKECVGFCU.QCFKPI2TGUUCPF7PNQCFKPI2TGUU
'ZCORNG
(QTRTGUUWTGDCPF
.QCFKPIRTGUUWTGDCT
7PNQCFKPIRTGUUWTGDCT
(QTRTGUUWTGDCPF
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7PNQCFKPIRTGUUWTGDCT
2TQEGFWTG
%QPUWNVVJGUGEVKQP2TQEGFWTGCDQXGVQUGNGEV.QCFKPI2TGUU
.QCFKPI2TGUU
DCT
/GPW
/QF
(
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6JGUETGGPUJQYUVJCVVJGEWTTGPVUGVVKPIKUDCT
G6QOQFKH[VJKUUGVVKPIRTGUUVJGMG[/QF
(VJGUGVVKPIYKNNHNCUJ
6JGMG[.KO
(ECPDGWUGFVQHKPFQWVVJGNKOKVCVKQPUHQTVJGRCTCOGVGT
7UGVJGUETQNNMG[U
VQEJCPIGVJGUGVVKPI
2TGUUVJGMG[2TQI
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QRGTCVKQP
6JGRTQEGFWTGVQOQFKH[VJGWPNQCFKPIRTGUUWTGKUUKOKNCT
+HTGSWKTGFTGRGCVVJGRTQEGFWTGHQTRTGUUWTGDCPF
6JGRTQEGFWTGVQOQFKH[QVJGTRCTCOGVGTUKUUKOKNCT
6JGTGIWNCVQTYKNNPQVCEEGRVPGYXCNWGUDG[QPFVJGNKOKVU2TGUUVJGMG[.KOVQ
EJGEMVJGNKOKVCVKQPUHQTVJGRCTCOGVGT%QPUWNVUGEVKQP2TQITCOOCDNGUGVVKPIUHQTVJG
OQUVKORQTVCPVUGVVKPIU
+PUVTWEVKQPOCPWCN
/QFKH[KPIRTQVGEVKQPUGVVKPIU
%QPVTQNRCPGN
(WPEVKQP
6QOQFKH[RTQVGEVKQPUGVVKPIU
5JWVFQYP
5JFGIHQTVJGEQORTGUUQTGNGOGPVQWVNGVVGORGTCVWTG
5JWVFQYPYCTPKPI
5JFYGIHQTVJGEQORTGUUQTGNGOGPVQWVNGVVGORGTCVWTG
9CTPKPI
9CTPGIVJGYCVGTVGORGTCVWTGHQTYCVGTEQQNGFEQORTGUUQTU
6QEJGEMXCTKQWUEQORTGUUQTEQPFKVKQPUGIVJGUVCVWUQHVJGOQVQTQXGTNQCFEQPVCEVU5QOG
RCTCOGVGTUECPPQVDGOQFKHKGF
2TQEGFWTG
5VCTVKPIHTQOVJG/CKPUETGGP
UGG/CKPUETGGPOGPW
2TGUUVJG/GPWMG[
(
2TGUUVJGCTTQYFQYPMG[
WPVKNVJGQRVKQP/QFKH[2CTCOUKUHQNNQYGFD[CJQTK\QPVCNCTTQY
#EVKXCVGVJGOGPWD[RTGUUKPIVJGVCDWNCVQTMG[
2TGUUVJGCTTQYFQYPMG[
WPVKNVJGQRVKQP2TQVGEVKQPUKUHQNNQYGFD[CJQTK\QPVCNCTTQY
2TGUUVJGVCDWNCVQTMG[
VJGHKTUVKVGOCPFKVUXCNWGYKNNCRRGCT
2TGUUVJGCTTQYFQYPMG[
WPVKNVJGKVGOVQDGOQFKHKGFKUHQNNQYGFD[CJQTK\QPVCNCTTQYCPF
RTGUUVJGVCDWNCVQTMG[
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%QPUWNVVJGUGEVKQP2TQEGFWTGVQUGNGEVVJGRCTCOGVGT'NGOGPVQWVNGV'ZCORNG
'NGOGPV1WVNGV
u%
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6JG.KOMG[
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7UGVJGUETQNNMG[U
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2TGUU2TQIMG[
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6JGUETGGPCNUQUJQYUCJQTK\QPVCNCTTQYKPFKECVKPIVJCVVJGUJWVFQYPYCTPKPIXCNWGECPDG
OQFKHKGF
VJGRTQEGFWTGKUUKOKNCTVQVJGFGUETKRVKQPCDQXG
6JGRTQEGFWTGVQOQFKH[QVJGTKVGOUKUUKOKNCT(QTUQOGUGVVKPIUCFGNC[ECPDGRTQITCOOGF
6JGTGIWNCVQTYKNNPQVCEEGRVPGYXCNWGUDG[QPFVJGNKOKVU2TGUUVJGMG[.KOVQ
EJGEMVJGNKOKVUHQTVJGRCTCOGVGT%QPUWNV2TQITCOOCDNGUGVVKPIUHQTVJGOQUV
KORQTVCPVUGVVKPIU
/QFKH[KPIUGTXKEGRNCPU
%QPVTQNRCPGN
(WPEVKQP
6QOQFKH[VJGJQWTKPVGTXCNUHQTVJGUGTXKEGNGXGNU
5GTXKEGRNCPU
6JGUGTXKEGCEVKQPUVQDGECTTKGFQWVCTGITQWRGFKPRNCPUECNNGF5GTXKEGNGXGN#$%QT&9JGP
TGCEJKPICPKPVGTXCNCOGUUCIGYKNNCRRGCTQPVJGUETGGPKPFKECVKPIYJKEJ5GTXKEGRNCPUCTGVQDG
ECTTKGFQWV
#NYC[UEQPUWNV[QWT#VNCU%QREQ%WUVQOGT%GPVTGKHCP[VKOGTUJQWNFDGEJCPIGF6JG
KPVGTXCNUOWUVPQVGZEGGFVJGKPVGTXCNUDGNQYCPFOWUVEQKPEKFGNQIKECNN[
+PUVTWEVKQPOCPWCN
2TQITCOOGFUGTXKEGRNCPKPVGTXCNU
5GTXKEGRNCPU
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EJGEMVJGNKOKVUHQTVJGRCTCOGVGT%QPUWNV2TQITCOOCDNGUGVVKPIUHQTVJGOQUV
KORQTVCPVUGVVKPIU
4GUWNVKPIUGTXKEGCEVKQPUVQDGECTTKGFQWV
5GTXKEGCEVKQPUCEEQTFKPIVQ
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WPVKN/QFKH[2CTCOUKUHQNNQYGFD[CJQTK\QPVCNCTTQY
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2TGUUVJGCTTQYFQYPMG[
WPVKN5GTXKEG2NCPKUHQNNQYGFD[CJQTK\QPVCNCTTQY
2TGUUVJGVCDWNCVQTMG[
CUETGGPUKOKNCTVQVJGQPGDGNQYYKNNCRRGCT
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6JGUETGGPUJQYUVJGCEVWCNTWPPKPIJQWTU
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CUETGGPUKOKNCTVQVJGQPGDGNQYYKNNCRRGCT
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5GTXKEG6KOGT
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/QF
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6JGUETGGPKPFKECVGUVJCVVJGNGXGNHQT5GTXKEGRNCP#KUUGVCVTWPPKPIJQWTU
2TGUUVJG/QFMG[
(6JGMG[.KO
(ECPDGWUGFVQHKPFQWVVJGNKOKVCVKQPUHQTVJG
RCTCOGVGT7UGVJGCTTQYWRCPFCTTQYFQYPMG[UVQOQFKH[VJGKPVGTXCN
2TGUUVJG2TQIMG[
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6JGRTQEGFWTGVQOQFKH[VJG5GTXKEGRNCPU$%CPF&KUUKOKNCT
2TQITCOOKPIENQEMHWPEVKQP
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6QRTQITCO
6KOGDCUGFUVCTVUVQREQOOCPFUHQTVJGEQORTGUUQT
6KOGDCUGFEJCPIGQXGTEQOOCPFUHQTVJGPGVRTGUUWTGDCPF
2TQITCOOKPIUVCTVUVQRCPFRTGUUWTGDCPFEQOOCPFU
+PVJKUGZCORNGVJGEQORTGUUQTYKNNDGRTQITCOOGFCUHQNNQYU
1P/QPFC[CVUVCTVKPIKPRTGUUWTGDCPF
1P(TKFC[CVEJCPIKPIQXGTVQRTGUUWTGDCPF
1P5CVWTFC[CVUVQRRKPI
5VCTVKPIHTQOVJG/CKPUETGGP
UGG/CKPUETGGPOGPW
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WPVKN/QFKH[2CTCOUKUHQNNQYGFD[CJQTK\QPVCNCTTQY
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7UGVJGCTTQYFQYPMG[
VQUETQNNWPVKNVJGQRVKQP%NQEM(WPEVKQPKUHQNNQYGFD[CJQTK\QPVCN
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JQTK\QPVCNCTTQY2TGUUVJGVCDWNCVQTMG[
VJGHQNNQYKPIUETGGPCRRGCTU
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/QF
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2TGUUVJGMG[/QF
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VQGPVGT2TGUU
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VQLWORVQVJGHQNNQYKPIVYQFCUJGU7UGVJGUETQNNMG[UVQGPVGT2TGUUVJG
VCDWNCVQTMG[VQLWORVQVJGTQYQHFCUJGU7UGVJGUETQNNMG[UVQGPVGTVJGEQOOCPF5VCTV
2TGUUVJGMG[2TQIVQRTQITCOVJGEQOOCPF5VCTV%QORTGUUQT
2TGUUVJGCTTQYFQYPMG[
VJGJQTK\QPVCNCTTQYKPFKECVGUVJCVVJGUGEQPFNKPGKUCEEGUUKDNG2TGUU
VJGMG[/QFCPFOQFKH[VJKUNKPGKPCUKOKNCTYC[VQVJGHQNNQYKPIEQOOCPF2TGUUWTG$CPF
2TGUUVJGMG[/GPW
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6JWTUFC[
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/GPW
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2TQITCOOKPIVJGEQOOCPFVQEJCPIGQXGTCVQENQEMVQ2TGUUWTG$CPFKUECTTKGFQWVKPCUKOKNCT
YC[CUFGUETKDGFCDQXG
2TGUUVJGMG[/GPW
(CPFUETQNNVQ5CVWTFC[2TQITCOOKPIVJGEQOOCPF%QORTGUUQT
5VQRKUECTTKGFQWVKPCUKOKNCTYC[CUFGUETKDGFCDQXG
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#EVKXCVKPIFGCEVKXCVKPIVJGVKOGT
6JGVKOGTECPQPN[DGCEVKXCVGFKHCVNGCUVQPGUVCTVUVQREQOOCPFKURTQITCOOGF
5VCTVKPIHTQOVJG/CKPUETGGPRTGUUVJGMG[/GPW
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7UGCTTQYFQYPMG[
WPVKNVJGQRVKQP/QFKH[2CTCOUKUHQNNQYGFD[CJQTK\QPVCNCTTQY
2TGUUVJGVCDWNCVQTMG[
VQCEVKXCVGVJGOGPW
7UGVJGCTTQYFQYPMG[WPVKNVJGQRVKQP%NQEM(WPEVKQPKUHQNNQYGFD[CJQTK\QPVCNCTTQYRTGUUVJG
VCDWNCVQTMG[
VJGHQNNQYKPIUETGGPCRRGCTU
%NQEM(WPEVKQP
0QV#EVKXCVGF
/GPW
/QF
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(
(
(
2TGUUVJGMG[/QF0QV#EVKXCVGFUVCTVUHNCUJKPI
2TGUUVJGCTTQYFQYPMG[
0QV#EVKXCVGFEJCPIGUVQ#EVKXCVGF
2TGUUVJGMG[2TQI
+VKUPGEGUUCT[VQRTQITCOVJGUVCTVUVQREQOOCPFUKPUWEEGUUKXGQTFGTVKOGYKUG
2TQITCOVJGEQOOCPFUHTQO/QPFC[VKNN5WPFC[GI
5VCTV%QORTGUUQT
2TGUUWTG$CPF
2TGUUWTG$CPF
5VQR%QORTGUUQT
/CMGUWTGVJCVVJGVKOGTHWPEVKQPKUCEVKXCVGF
#EVKXCVGF+HPQVVJGRTQITCOOGF
UVCTVUVQREQOOCPFUYKNNPQVDGGZGEWVGF
6JGVKOGTECPDGFGCEVKXCVGFCICKP+PVJKUECUGVJGRTQITCOOGFUVCTVUVQREQOOCPFU
YKNNPQVDGGZGEWVGF
DWVTGOCKPKPVJGOGOQT[QHVJGTGIWNCVQT
/QFKH[KPICEQOOCPF
5WRRQUGVJGEQOOCPFVQUVQRVJGEQORTGUUQTQP5CVWTFC[KUVQDGOQFKHKGFKGUVQRRKPICV
Q ENQEMKPUVGCFQHQ ENQEM
5VCTVKPIHTQOVJG/CKPUETGGPRTGUUVJGMG[/GPW
(RTGUUVJGCTTQYFQYPMG[
WPVKNVJG
QRVKQP/QFKH[2CTCOUKUHQNNQYGFD[CJQTK\QPVCNCTTQY
#EVKXCVGVJGOGPWD[RTGUUKPIVJGVCDWNCVQTMG[
7UGVJGCTTQYFQYPMG[
VQUETQNNWPVKNVJGQRVKQP%NQEM(WPEVKQPKUHQNNQYGFD[CJQTK\QPVCN
CTTQY2TGUUVJGVCDWNCVQTMG[VJGHQNNQYKPIUETGGPCRRGCTU
%NQEM(WPEVKQP
0QV#EVKXCVGF
/GPW
/QF
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(
(
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2TGUUVJGVCDWNCVQTMG[
VJGHQNNQYKPIUETGGPCRRGCTU
+PUVTWEVKQPOCPWCN
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6WGUFC[
9GFPGUFC[
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(
(
5ETQNNVJTQWIJVJGFKURNC[WPVKN5CVWTFC[KUHQNNQYGFD[CJQTK\QPVCNCTTQY2TGUUVJGVCDWNCVQTMG[
+HPGEGUUCT[UETQNNVJTQWIJVJGEQOOCPFUWPVKNVJGEQOOCPFVQDGOQFKHKGFKUHQNNQYGFD[C
JQTK\QPVCNCTTQY2TGUUVJGMG[/QFVJGHKTUVVYQFKIKVUQHVJGEQOOCPFUVCTVHNCUJKPI/QFKH[CU
TGSWKTGFWUKPIVJGUETQNNMG[UKGKPVJGGZCORNGCDQXGEJCPIGVQWUKPIVJGCTTQYWRMG[
+HPGEGUUCT[RTGUUVJGVCDWNCVQTMG[
VQIQVQVJGPGZVHKGNFVQDGOQFKHKGFVJGOKPWVGUKPFKECVKQP
CPFVJGUVCTVUVQRRTGUUWTGDCPFKPFKECVKQP
2TGUUVJGMG[2TQIVQRTQITCOVJGPGYEQOOCPFQTVJGMG[%CPEVQSWKVYKVJQWVTGRTQITCOOKPI
#FFKPICEQOOCPFCVVJGGPFQHCPGZKUVKPINKUV
5VCTVKPIHTQOVJG/CKPUETGGPRTGUUVJGMG[/GPW
(RTGUUVJGCTTQYFQYPMG[WPVKNVJGQRVKQP
/QFKH[2CTCOUKUHQNNQYGFD[CJQTK\QPVCNCTTQY
#EVKXCVGVJGOGPWD[RTGUUKPIVJGVCDWNCVQTMG[
7UGVJGCTTQYFQYPMG[
VQUETQNNWPVKNVJGQRVKQP%NQEM(WPEVKQPKUHQNNQYGFD[CJQTK\QPVCN
CTTQY2TGUUVJGVCDWNCVQTMG[VJGHQNNQYKPIUETGGPCRRGCTU
%NQEM(WPEVKQP
0QV#EVKXCVGF
/GPW
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(
(
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5WRRQUGVJGEQOOCPFVQUVQRVJGEQORTGUUQTCVOWUVDGCFFGFVQVJGNKUVQH/QPFC[
2TGUUVJGVCDWNCVQTMG[
VJGHQNNQYKPIUETGGPCRRGCTU
/QPFC[
6WGUFC[
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(
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5ETQNNVJTQWIJVJGFKURNC[WPVKN/QPFC[KUHQNNQYGFD[CJQTK\QPVCNCTTQY2TGUUVJGVCDWNCVQTMG[
5ETQNNVJTQWIJVJGEQORTGUUQTUVCTVUVQRRTGUUWTGDCPFEQOOCPFUWPVKNVJGHKTUVGORV[
EQOOCPFNKPGKUKPFKECVGFD[VJGJQTK\QPVCNCTTQY
2TGUUVJGMG[/QFVJGHKTUVVYQFKIKVUUVCTVHNCUJKPI'PVGT%QORTGUUQT5VQRWUKPIVJG
UETQNNMG[U
VQOQFKH[CHKGNFCPFVJGVCDWNCVQTMG[
VQLWORHTQOQPGHKGNFVQCPQVJGT
2TGUUVJGMG[2TQIVQRTQITCOVJGPGYEQOOCPFQTVJGMG[%CPEVQSWKVYKVJQWVTGRTQITCOOKPI
#FFKPICEQOOCPFDGVYGGPVYQGZKUVKPIEQOOCPFU
5WRRQUGVJGEQOOCPF2TGUUWTG$CPFOWUVDGCFFGFVQVJGHQNNQYKPINKUV
+PUVTWEVKQPOCPWCN
5VCTV%QORTGUUQT
2TGUUWTG$CPF
5VQR%QORTGUUQT
6JGTGIWNCVQTFQGUPQVCNNQYVJGGPVGTKPIQHCPGYEQOOCPFYJKEJVKOGYKUGKUUKVWCVGFDGHQTGVJGNCUV
EQOOCPFKPVJGNKUV
5ETQNNVJTQWIJVJGFKURNC[WPVKNVJGEQOOCPFDGHQTGYJKEJVJGPGYEQOOCPFOWUVDGGPVGTGFKU
HQNNQYGFD[CJQTK\QPVCNCTTQY
KPVJGGZCORNGCDQXG5VQR%QORTGUUQTCPFRTGUUVJGMG[
/QF
%JCPIGVJKUEQOOCPFVQVJGPGYEQOOCPF
KPVJGGZCORNGCDQXG2TGUUWTG$CPF
2TGUUVJGCTTQYFQYPMG[CPFCFFVJGNCUVEQOOCPFQHVJGNKUV
KPVJGGZCORNGCDQXG5VQR
%QORTGUUQTCPFRTGUUVJGMG[2TQI
&GNGVKPICEQOOCPF
5VCTVKPIHTQOVJG/CKPUETGGPRTGUUVJGMG[/GPW
(RTGUUVJGCTTQYFQYPMG[WPVKNVJGQRVKQP
/QFKH[2CTCOUKUHQNNQYGFD[CJQTK\QPVCNCTTQY
#EVKXCVGVJGOGPWD[RTGUUKPIVJGVCDWNCVQTMG[
7UGVJGUETQNNMG[U
VQUETQNNWPVKNVJGQRVKQP%NQEM(WPEVKQPKUHQNNQYGFD[CJQTK\QPVCNCTTQY
2TGUUVJGVCDWNCVQTMG[VJGHQNNQYKPIUETGGPCRRGCTU
%NQEM(WPEVKQP
0QV#EVKXCVGF
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(
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2TGUUVJGMG[&GNKPVJGUETGGPCDQXG#SWGUVKQPVQEQPHKTOVJGFGNGVKPIQRGTCVKQPYKNNCRRGCT
&GNGVKPICNNEQOOCPFUQHCURGEKHKEFC[
5ETQNNVJTQWIJVJGFKURNC[WPVKNVJGFGUKTGFFC[KUHQNNQYGFD[CJQTK\QPVCNCTTQY2TGUUVJGMG[&GN
CSWGUVKQPVQEQPHKTOVJGFGNGVKPIQRGTCVKQPYKNNCRRGCT
&GNGVKPICURGEKHKEEQOOCPF
5ETQNNVJTQWIJVJGFKURNC[WPVKNVJGEQOOCPFVQDGFGNGVGFKUHQNNQYGFD[CJQTK\QPVCNCTTQY2TGUU
VJGMG[&GNCSWGUVKQPVQEQPHKTOVJGFGNGVKPIQRGTCVKQPYKNNCRRGCT
+PUVTWEVKQPOCPWCN
/QFKH[KPIEQPHKIWTCVKQPUGVVKPIU
%QPVTQNRCPGN
(WPEVKQP
6QOQFKH[CPWODGTQHRCTCOGVGTU%QPUWNVVJGOGPWHNQYKPUGEVKQP%QPVTQNRTQITCOU
2TQEGFWTG
5VCTVKPIHTQOVJG/CKPUETGGP
UGG/CKPUETGGPOGPW
2TGUUVJGMG[/GPW
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VQUETQNNWPVKN%QPHKIWTCVKQPKUHQNNQYGFD[CJQTK\QPVCNCTTQY
#EVKXCVGVJGOGPWD[RTGUUKPIVCDWNCVQTMG[
VJGHKTUVKVGO6KOGYKNNCRRGCT+HCPQVJGTQRVKQPKU
FGUKTGFUETQNNVJTQWIJVJGFKURNC[WPVKNVJGQRVKQPKUHQNNQYGFD[CJQTK\QPVCNCTTQY5GNGEVVJGQRVKQP
D[RTGUUKPIVJGVCDWNCVQTMG[
(QTVJGQRVKQP6KOGVJGUGEQPFNKPGQPVJGUETGGPKPFKECVGUVJGCEVWCNUGVVKPIGI6Q
OQFKH[VJKUUGVVKPIRTGUUVJGMG[/QF
(VJGHKTUVHKGNFYKNNHNCUJ
7UGVJGUETQNNMG[U
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VQIQVQVJGPGZVHKGNF
6JGUGVVKPIQHVJKUHKGNFECPPQYDGOQFKHKGFWUKPIVJGUETQNNMG[U
2TGUUVJGMG[2TQI
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6JGRTQEGFWTGVQOQFKH[QVJGTRCTCOGVGTUKUUKOKNCT
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2TQITCOOKPIEQORTGUUQTEQPVTQNOQFGU
%QPVTQNRCPGN
%QORTGUUQTEQPVTQNOQFGU
6JGEQORTGUUQTECPDGEQPVTQNNGFNQECNN[TGOQVGN[QTXKCCNQECNCTGCPGVYQTM
.#0
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2TQIVQRTQITCOQTVJGMG[%CPEVQECPEGNVJGOQFKHKECVKQP
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5GTXKEGOGPW
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6QTGUGVVJGUGTXKEGRNCPUYJKEJCTGECTTKGFQWV
6QEJGEMYJGPVJGPGZVUGTXKEGRNCPUCTGVQDGECTTKGFQWV
6QHKPFQWVYJKEJUGTXKEGRNCPUYGTGECTTKGFQWVRTGXKQWUN[
5GTXKEGRNCPU
#PWODGTQHUGTXKEGQRGTCVKQPUCTGITQWRGF
ECNNGF.GXGN#.GXGN$GVE'CEJNGXGNUVCPFUHQTC
PWODGTQHUGTXKEGCEVKQPUVQDGECTTKGFQWVCVVJGVKOGKPVGTXCNURTQITCOOGFKPVJG'NGMVTQPKMQP
TGIWNCVQT
9JGPCUGTXKEGRNCPKPVGTXCNKUTGCEJGFCOGUUCIGYKNNCRRGCTQPVJGUETGGPUGGUGEVKQP5VCVWUFCVC
#HVGTECTT[KPIQWVVJGUGTXKEGCEVKQPUTGNCVGFVQVJGKPFKECVGFNGXGNUVJGVKOGTUOWUVDGTGUGV
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5GTXKEGRNCPU
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6JGUETGGPUJQYUVJCVVJGPGZVUGTXKEGRNCPUVQDGECTTKGFQWVCTGRNCPU#$CPF%CPFVJCVVJGUG
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2TGUUVJGCTTQYFQYPMG[
VQHKPFQWVYJKEJUGTXKEGRNCPUYGTGECTTKGFQWVRTGXKQWUN[VJG
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6JGUETGGPUJQYUVJCVUGTXKEGRNCPU#CPF$YGTGECTTKGFQWVCVTWPPKPIJQWTU
5VQRVJGEQORTGUUQTUYKVEJQHHVJGXQNVCIGCPFECTT[QWVVJGUGTXKEGQRGTCVKQPUTGNCVGFVQRNCPU#
$CPF%UGGUGEVKQP2TGXGPVKXGOCKPVGPCPEGUEJGFWNG
5YKVEJQPVJGXQNVCIGCPFUETQNNVQVJG0GZV6KOGTUGTXKEGUETGGP
2TGUUVJG4UGVDWVVQP
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6JG4UGVDWVVQPQPN[CRRGCTUYJGPVJG0GZV6KOGTNGXGNKUCNOQUVTGCEJGF
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CTGUJQYPKGVJGPWODGTQHJQWTUGNCRUGFUKPEGKPKVKCNRTQITCOOKPIGZHCEVQT[6JKU
VKOGTKUPQVVCMGPKPVQCEEQWPV
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5CXGFFCVCOGPW
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6JGNKUVQHNCUVUJWVFQYPCPFGOGTIGPE[UVQRECUGUKUUJQYP
5ETQNNVJTQWIJVJGKVGOUVQUGNGEVVJGFGUKTGFUJWVFQYPQTGOGTIGPE[UVQRKVGO
2TGUUVCDWNCVQTMG[
VQHKPFVJGFCVGVKOGCPFQVJGTFCVCTGHNGEVKPIVJGUVCVWUQHVJGEQORTGUUQT
YJGPVJGNCUVUJWVFQYPQEEWTTGF
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RUK
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DCTEQORTGUUQTU
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DCTEQORTGUUQTU
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DCTEQORTGUUQTU
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RUKEQORTGUUQTU
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RUKEQORTGUUQTU
RUKI
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RUKEQORTGUUQTU
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/KPKOWO
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7PNQCFKPIRTGUUWTGU
7PNQCFKPIRTGUUWTG
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DCTEQORTGUUQTU RUKI
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DCTEQORTGUUQTU DCT
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DCTEQORTGUUQTU RUKI
7PNQCFKPIRTGUUWTG
RUK
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RUK
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RUKI
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RUK
EQORTGUUQTU
DCT
G
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RUK
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RUKI
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RUK
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DCT
G
7PNQCFKPIRTGUUWTG
RUK
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RUKI
7PNQCFKPIRTGUUWTG
RUK
EQORTGUUQTU
DCT
G
7PNQCFKPIRTGUUWTG
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DCTEQORTGUUQTU
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G
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RUKI
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DCTEQORTGUUQTU
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DCTEQORTGUUQTU
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DCTEQORTGUUQTU
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RUKEQORTGUUQTU
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RUKEQORTGUUQTU
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RUKEQORTGUUQTU
DCT
G
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RUKEQORTGUUQTU
RUKI
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RUKEQORTGUUQTU
DCT
G
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RUKEQORTGUUQTU
RUKI
.QCFKPIRTGUUWTG
RUKEQORTGUUQTU
DCT
G
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RUKEQORTGUUQTU
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+PUVTWEVKQPOCPWCN
2CTCOGVGTU
/KPKOWO
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UGVVKPI
/QVQTTWPPKPIVKOGKPUVCT
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UVCTFGNVC
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0WODGTQHOQVQTUVCTVU
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2TQITCOOGFUVQRVKOG
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#4#8(
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6JGQRGTCVQTOWUVCRRN[CNNTGNGXCPVUCHGV[RTGECWVKQPUKPENWFKPIVJQUGOGPVKQPGFKP
VJKUDQQM
1WVFQQTCNVKVWFGQRGTCVKQP
+HVJGEQORTGUUQTKUKPUVCNNGFQWVFQQTUQTKHVJGCKTKPNGVVGORGTCVWTGECPDGDGNQYu%u(
RTGECWVKQPUOWUVDGVCMGP+PVJKUECUGCPFCNUQKHQRGTCVKPICDQXGO
HVEQPUWNV#VNCU
%QREQ
/QXKPINKHVKPI
6JGEQORTGUUQTECPDGOQXGFD[CNKHVVTWEMWUKPIVJGUNQVUKPVJGHTCOG6CMGECTGPQVVQFCOCIGVJG
DQF[YQTMFWTKPINKHVKPIQTVTCPURQTV$GHQTGNKHVKPITGKPUVCNNVJGVTCPURQTVUGEWTKPIDQNVU/CMGUWTGVJCV
VJGHQTMURTQVTWFGHTQOVJGQVJGTUKFGQHVJGHTCOG6JGEQORTGUUQTECPCNUQDGNKHVGFCHVGTKPUGTVKPI
DGCOUKPVJGUNQVU/CMGUWTGVJCVVJGDGCOUECPPQVUNKFGCPFVJCVVJG[RTQVTWFGHTQOVJGHTCOG
GSWCNN[6JGEJCKPUOWUVDGJGNFRCTCNNGNVQVJGDQF[YQTMD[EJCKPURTGCFGTUKPQTFGTPQVVQFCOCIGVJG
EQORTGUUQT6JGNKHVKPIGSWKROGPVOWUVDGRNCEGFKPUWEJCYC[VJCVVJGEQORTGUUQTKUNKHVGF
RGTRGPFKEWNCTN[.KHVIGPVN[CPFCXQKFVYKUVKPI
+PECUGQHWPKVUGSWKRRGFYKVJVJG.KHVKPI&GXKEG1RVKQPKVKUPQVCNNQYGFVQNKHVVJG
EQORTGUUQTKHVJGECPQR[RCTVUQTNKHVKPIUWRRQTVUCTGPQVEQORNGVGN[KPUVCNNGF9JGP
VJGEQORTGUUQTKUDGKPINKHVGFKVKUCNUQHQTDKFFGPVQEQOGWPFGTVJGNQCFQTVQRGTHQTO
OCKPVGPCPEGCEVKXKVKGUVQKV
'ZVGTPCNEQORTGUUQTUVCVWUKPFKECVKQPQPEQORTGUUQTUGSWKRRGFYKVJCP'NGMVTQPKMQP++TGIWNCVQT
6JG'NGMVTQPKMQP++TGIWNCVQTKURTQXKFGFYKVJCWZKNKCT[EQPVCEVU
---CPF-CVVJGDCEMQH
VJGGNGEVTQPKEOQFWNGHQTGZVGTPCNKPFKECVKQPQH
NQYQTJKIJCKTRTGUUWTG
-ENQUGFOGCPUJKIJCKTRTGUUWTG
OCPWCNNQCFWPNQCFQTCWVQOCVKEQRGTCVKQP
-
YCTPKPIEQPFKVKQP
-
UJWVFQYPEQPFKVKQP
-
/CZKOWONQCFHQTVJGUGEQPVCEVU#8#%5VQRVJGEQORTGUUQTCPFUYKVEJQHHVJGXQNVCIG
DGHQTGEQPPGEVKPIGZVGTPCNGSWKROGPV%QPUWNV#VNCU%QREQ
%QORTGUUQTEQPVTQNOQFGUQPEQORTGUUQTUGSWKRRGFYKVJCP'NGMVTQPKMQP++TGIWNCVQT
*CXGVJGOQFKHKECVKQPUEJGEMGFD[#VNCU%QREQ5VQRVJGEQORTGUUQTCPFUYKVEJQHH
VJGXQNVCIGDGHQTGEQPPGEVKPIGZVGTPCNGSWKROGPV1PN[XQNVCIGHTGGEQPVCEVUCTG
CNNQYGF
+PUVTWEVKQPOCPWCN
%QPUWNVUGEVKQP2TQITCOOKPIEQORTGUUQTEQPVTQNOQFGUKHKVKUFGUKTGFVQUYKVEJVQCPQVJGTEQPVTQN
OQFG
6JGHQNNQYKPIEQPVTQNOQFGUECPDGUGNGEVGF
.QECNEQPVTQN6JGEQORTGUUQTYKNNTGCEVVQEQOOCPFUGPVGTGFD[VJGDWVVQPUQPVJGEQPVTQNRCPGN
%QORTGUUQTUVCTVUVQREQOOCPFUXKC%NQEMHWPEVKQPCTGCEVKXGKHRTQITCOOGF
4GOQVGEQPVTQN6JGEQORTGUUQTYKNNTGCEVVQEQOOCPFUHTQOGZVGTPCNUYKVEJGU'OGTIGPE[UVQR
TGOCKPUCEVKXG%QORTGUUQTUVCTVUVQREQOOCPFUXKC%NQEMHWPEVKQPCTGUVKNNRQUUKDNG
(QTTGOQVGUVCTVKPICPFUVQRRKPI
%QPPGEVCUVCTVRTQITCOOGFUVQRDWVVQPDGVYGGPVGTOKPCNUCPFQHEQPPGEVQT
:5GG
UGEVKQP'NGEVTKECNU[UVGOVQNQECVGVJGEQPPGEVQT
$TKFIGVGTOKPCNUCPFQHEQPPGEVQT
:+PVJKUOQFGVJGQWVNGVRTGUUWTGKUUVKNNUGPUGFD[
RTGUUWTGVTCPUFWEGT
26TGUWNVKPIKPNQCFKPICPFWPNQCFKPIQHVJGEQORTGUUQTCVVJGRTGUUWTGU
RTQITCOOGFKPVJGGNGEVTQPKETGIWNCVQT+HVGTOKPCNUCPFQHEQPPGEVQT
:CTGPQVDTKFIGF
VJGEQORTGUUQTKUUYKVEJGFQWVQHCWVQOCVKENQCFWPNQCFQRGTCVKQPCPFTGOCKPUTWPPKPIWPNQCFGF
5GGUGEVKQP'NGEVTKECNU[UVGOVQNQECVGVJGEQPPGEVQT
(QTTGOQVGNQCFKPIWPNQCFKPI
XKCGZVGTPCNRTGUUWTGUYKVEJ
$TKFIGVGTOKPCNUCPFQHEQPPGEVQT
:CPFEQPPGEVCNQCFWPNQCFUYKVEJDGVYGGP
VGTOKPCNUCPFQHEQPPGEVQTUVTKR
:6JKUTGUWNVUKPNQCFKPICPFWPNQCFKPIQHVJG
EQORTGUUQTCVVJGENQUKPICPFQRGPKPIRTGUUWTGUQHVJGGZVGTPCNRTGUUWTGUYKVEJTGURGEVKXGN[
.#0EQPVTQN6JGEQORTGUUQTKUEQPVTQNNGFXKCCNQECNPGVYQTM%QPUWNV#VNCU%QREQ
+PKVKCNUVCTVWR
5CHGV[
6JGQRGTCVQTOWUVCRRN[CNNTGNGXCPV5CHGV[RTGECWVKQPU
2TQEGFWTG
(QTVJGNQECVKQPQHVJGCKTQWVNGVXCNXGCPFVJGFTCKPEQPPGEVKQPUUGGUGEVKQPU
+PVTQFWEVKQPCPF%QPFGPUCVGU[UVGO
+PUVTWEVKQPOCPWCN
#KTTGEGKXGTVTCPURQTVHKZVWTGU
/QVQTCPFIGCTECUKPIVTCPURQTVHKZVWTGU
+PUVTWEVKQPOCPWCN
'NGEVTKEEWDKENGV[RKECNGZCORNG
%QPUWNVVJGUGEVKQPU'NGEVTKEECDNGUK\G+PUVCNNCVKQPRTQRQUCNCPF&KOGPUKQPFTCYKPIU
6JGHQNNQYKPIVTCPURQTVHKZVWTGURCKPVGFTGFOWUVDGTGOQXGF
$QNVU
$WUJGU
5WRRQTVU
%JGEMVJCVVJGGNGEVTKECNEQPPGEVKQPUEQTTGURQPFVQVJGNQECNEQFGUCPFVJCVCNNYKTGUCTG
ENCORGFVKIJVVQVJGKTVGTOKPCNU
6JGKPUVCNNCVKQPOWUVDGGCTVJGFCPFRTQVGEVGFCICKPUVUJQTVEKTEWKVUD[HWUGUQHVJGKPGTVV[RGKP
CNNRJCUGU#PKUQNCVKPIUYKVEJOWUVDGKPUVCNNGFPGCTVJGEQORTGUUQT
%JGEMVTCPUHQTOGT
6HQTEQTTGEVEQPPGEVKQP
%JGEMVJGUGVVKPIUQHFTKXGOQVQTQXGTNQCFTGNC[
(
%JGEMVJCVVJGOQVQTQXGTNQCFTGNC[KUUGVHQTOCPWCNTGUGVVKPI
1PCKTEQQNGFEQORTGUUQTUEJGEMVJGUGVVKPIQHEKTEWKVDTGCMGT
3#NUQEJGEMVJCVVJG
UYKVEJQPVJGEKTEWKVDTGCMGTKUKPRQUKVKQP+
(KVCKTQWVNGVXCNXG
#8UGGUGEVKQP+PVTQFWEVKQPHQTVJGNQECVKQPQHVJGXCNXG
%NQUGVJGXCNXG
%QPPGEVVJGCKTPGVVQVJGXCNXG
1PEQORTGUUQTUGSWKRRGFYKVJCFT[GTD[RCUUHKVVJGCKTQWVNGVXCNXGVQVJGFT[GTD[RCUURKRG
+PUVTWEVKQPOCPWCN
%QPPGEVVJGEQPFGPUCVGFTCKPQWVNGV
UVQCFTCKPEQNNGEVQT
5GGUGEVKQP%QPFGPUCVGU[UVGO
6JGFTCKPRKRGUVQVJGFTCKPEQNNGEVQTOWUVPQVFKRKPVQVJGYCVGT+HVJGRKRGUJCXGDGGPHKVVGF
QWVUKFGVJGTQQOYJGTGHTGG\KPIKURQUUKDNGVJG[OWUVDGKPUWNCVGF(QTFTCKPKPIQHRWTG
EQPFGPUCVGYCVGTKPUVCNNCPQKNYCVGTUGRCTCVQTYJKEJKUCXCKNCDNGHTQO#VNCU%QREQCUCP
QRVKQP5GGUGEVKQP15&WPKV
(QTEQORTGUUQTUYKVJC&&QTC&&CPF2&HKNVGTEQPPGEVVJGCWVQOCVKEFTCKPQHVJGHKNVGTUVQC
UWKVCDNGFTCKPEQNNGEVQT
1PYCVGTEQQNGFEQORTGUUQTUFTCKPXCNXGUUJWVQHHXCNXGUCPFCTGIWNCVKPIXCNXGUJQWNFDG
HKVVGFD[VJGEWUVQOGTKPVJGEQQNKPIYCVGTRKRKPI
%JGEMVJGQKNNGXGN5GGUGEVKQP1KNCPFQKNHKNVGTEJCPIG
2TQXKFGNCDGNUYCTPKPIVJGQRGTCVQTVJCV
6JGEQORTGUUQTOC[CWVQOCVKECNN[TGUVCTVCHVGTXQNVCIGHCKNWTG
KHCEVKXCVGFEQPUWNV#VNCU
%QREQ
6JGEQORTGUUQTKUCWVQOCVKECNN[EQPVTQNNGFCPFOC[DGTGUVCTVGFCWVQOCVKECNN[
1PYCVGTEQQNGFEQORTGUUQTUENQUGVJGEQQNKPIYCVGTFTCKPXCNXGU1RGPVJGEQQNKPIYCVGTKPNGV
XCNXGCPFVJGTGIWNCVKQPXCNXG
5YKVEJQPVJGXQNVCIG5VCTVVJGEQORTGUUQTCPFUVQRKVKOOGFKCVGN[%JGEMVJGTQVCVKQP
FKTGEVKQPQHFTKXGOQVQT
/YJKNGVJGOQVQTKUEQCUVKPIVQCUVQR6JGEQTTGEVTQVCVKQPFKTGEVKQP
QHVJGFTKXGOQVQTKUKPFKECVGFD[CPCTTQYUJQYPQPVJGOQVQTHCPEQYN
1PCKTEQQNGFEQORTGUUQTUEJGEMCNUQVJGTQVCVKQPFKTGEVKQPQHVJGHCPOQVQT4QVCVKQPCTTQYU
XKUKDNGVJTQWIJVJGITCVKPIKPVJGTQQHCTGRTQXKFGFQPVJGRNCVGDGNQYVJGHCPVQKPFKECVGVJG
EQTTGEVTQVCVKQPFKTGEVKQPQHVJGHCPOQVQT
+HVJGTQVCVKQPFKTGEVKQPQHVJGFTKXGOQVQTKUKPEQTTGEVQRGPVJGKUQNCVKPIUYKVEJCPFTGXGTUGVYQ
KPEQOKPIGNGEVTKENKPGU
+HVJGTQVCVKQPFKTGEVKQPQHVJGHCPOQVQTKUKPEQTTGEVQRGPVJGKUQNCVKPIUYKVEJCPFTGXGTUGVYQ
KPEQOKPIGNGEVTKEEQPPGEVKQPUCVVJGVGTOKPCNUQHEKTEWKVDTGCMGT
3
+PEQTTGEVTQVCVKQPFKTGEVKQPQHVJGFTKXGOQVQTOC[ECWUGFCOCIGVQVJGEQORTGUUQT
1PEQORTGUUQTUGSWKRRGFYKVJCP'NGMVTQPKMQP++TGIWNCVQTEJGEMVJGRTQITCOOGFUGVVKPIU
%QPUWNVUGEVKQP2TQITCOOCDNGUGVVKPIU
5VCTVCPFTWPVJGEQORTGUUQTHQTCHGYOKPWVGU%JGEMVJCVVJGEQORTGUUQTQRGTCVGUPQTOCNN[
$GHQTGUVCTVKPI
4GOCTMU
+HVJGEQORTGUUQTJCUPQVTWPHQTVJGRCUVOQPVJUKVKUUVTQPIN[TGEQOOGPFGF
VQKORTQXGVJGNWDTKECVKQPQHVJGEQORTGUUQTGNGOGPVCVUVCTVKPI&KUEQPPGEVVJG
KPNGVJQUGTGOQXGVJGWPNQCFGT
7#CPFRQWTN
75ICN+ORICN
QHQKNKPVQVJGEQORTGUUQTGNGOGPV4GKPUVCNNVJGWPNQCFGTCPFTGEQPPGEVVJGKPNGV
JQUG/CMGUWTGVJCVCNNEQPPGEVKQPUCTGVKIJV
1P(WNN(GCVWTGEQORTGUUQTUUYKVEJQPVJGXQNVCIGJQWTUDGHQTGUVCTVKPIVQ
GPGTIKUGVJGETCPMECUGJGCVGTQHVJGTGHTKIGTCPVEQORTGUUQTQHVJGFT[GT
+PUVTWEVKQPOCPWCN
2TQEGFWTG
.QECVKQPQHWPNQCFGT
5GGUGEVKQP+PKVKCNUVCTVWRHQTNQECVKQPQHVJGQKNU[UVGOEQORQPGPVU
%JGEMQKNNGXGN
)NVQRWRKHPGEGUUCT[6JGRQKPVGTUJQWNFDGKPVJGWRRGTHKGNFQHVJGITGGP
TCPIGQTKPVJGQTCPIGTCPIG+HVJGRQKPVGTTGIKUVGTUKPVJG.19TCPIGFGRTGUUWTK\GVJGQKN
U[UVGO
UGGUGEVKQP2TQDNGOUQNXKPI9CKVWPVKNVJGEQORTGUUQTJCUFGRTGUUWTK\GF7PUETGYQKN
HKNNGTRNWI
(%QPN[QPGVWTPVQRGTOKVCP[RTGUUWTGKPVJGU[UVGOVQGUECRG4GOQXGVJGHKNNGT
ECRCPFCFFQKNWPVKNVJGNGXGNTGCEJGUVJGHKNNGTPGEM6KIJVGPVJGRNWI
+HPGEGUUCT[GORV[VJGFWUVVTCRQHVJGHKNVGTUGGUGEVKQP#KTHKNVGT
+HVJGTGFRCTVQHVJGCKTHKNVGTUGTXKEGKPFKECVQTUJQYUHWNNQWVTGRNCEGVJGCKTHKNVGTGNGOGPV4GUGV
VJGUGTXKEGKPFKECVQT
8+D[RWUJKPIVJGMPQDKPVJGGZVTGOKV[QHVJGDQF[CPFTGUGVVJGUGTXKEG
YCTPKPI
1PEQORTGUUQTUGSWKRRGFYKVJCP'NGMVTQPKMQP++TGIWNCVQTUGGUGEVKQP5GTXKEGOGPW
1PYCVGTEQQNGFEQORTGUUQTUCNUQ
%JGEMVJCVVJGEQQNKPIYCVGTFTCKPXCNXGUKPVJGKPNGVCPFQWVNGVRKRGUCTGENQUGF
1RGPVJGEQQNKPIYCVGTKPNGVXCNXG
1RGPVJGYCVGTHNQYTGIWNCVKPIXCNXG6JKUUVGRECPDGUMKRRGFKHCHVGTRTGXKQWUQRGTCVKQP
VJGUGVVKPIQHVJKUXCNXGJCUPQVDGGPEJCPIGF
5VCTVKPI
2TQEGFWTG
(QTVJGRQUKVKQPQHVJGCKTQWVNGVXCNXGCPFVJGFTCKPEQPPGEVKQPUUGGUGEVKQPU
+PVTQFWEVKQPCPF%QPFGPUCVGU[UVGO
+PUVTWEVKQPOCPWCN
%QPVTQNRCPGNQH'NGMVTQPKMQP++
5VGR
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5YKVEJQPVJGXQNVCIG%JGEMVJCVXQNVCIGQP.'&
NKIJVUWR
1RGPVJGCKTQWVNGVXCNXG
2TGUUUVCTVDWVVQP
QPVJGEQPVTQNRCPGN6JGEQORTGUUQTUVCTVUTWPPKPICPFVJGCWVQOCVKE
QRGTCVKQP.'&
NKIJVUWR6GPUGEQPFUCHVGTUVCTVKPIVJGFTKXGOQVQTUYKVEJGUQXGTHTQOUVCT
VQFGNVCCPFVJGEQORTGUUQTUVCTVUTWPPKPINQCFGF
1PYCVGTEQQNGFEQORTGUUQTUTGIWNCVGVJGEQQNKPIYCVGTHNQYFWTKPINQCFGFTWPPKPIVQQDVCKP
VJGOQUVUWKVCDNGVGORGTCVWTGCVVJGQWVNGVQHVJGEQORTGUUQTGNGOGPVKGDGVYGGPCPF
u%
CPFu(CDQXGVJGTGNGXCPVVGORGTCVWTGKPVJGHKIWTGDGNQY(QTQRVKOWOQRGTCVKQP
VJGEQQNKPIYCVGTQWVNGVVGORGTCVWTGOWUVPGXGTGZEGGFVJGXCNWGURGEKHKGFKPUGEVKQP
%QORTGUUQTFCVC%QPUWNV#VNCU%QREQKHEQPFGPUCVGUJQWNFHQTOFWTKPIHTGSWGPVWPNQCFKPI
RGTKQFU
+PUVTWEVKQPOCPWCN
/KPKOWOEQORTGUUQTGNGOGPVVGORGTCVWTGHQTYCVGTEQQNGFWPKVU
##KTKPNGVVGORGTCVWTG
$%QPFGPUCVKQPVGORGTCVWTG
%9QTMKPIRTGUUWTG
&4GNCVKXGCKTJWOKFKV[
'ZCORNG+HQRGTCVKPICVCRTGUUWTGQHDCT
G
RUKIKPCPCODKGPVVGORGTCVWTGQHu%
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CPFCVCTGNCVKXGCKTJWOKFKV[QHVJGOKPKOWOVGORGTCVWTGVQRTGXGPVEQPFGPUCVGHTQOHQTOKPIKU
u%
u(4GIWNCVGVJGEQQNKPIYCVGTHNQYFWTKPINQCFGFQRGTCVKQPVQQDVCKPCVGORGTCVWTG
DGVYGGPCPFCRRTQZu%
CPFCRRTQZu(CVVJGQWVNGVQHVJGEQORTGUUQTGNGOGPV
&WTKPIQRGTCVKQP
2TQEGFWTG
6JGQRGTCVQTOWUVCRRN[CNNTGNGXCPV5CHGV[RTGECWVKQPU#NUQEQPUWNVUGEVKQP2TQDNGO
UQNXKPI
-GGRVJGFQQTUENQUGFFWTKPIQRGTCVKQPVJG[OC[DGQRGPGFHQTUJQTVRGTKQFUQPN[VQ
ECTT[QWVEJGEMU
9JGPVJGOQVQTUCTGUVQRRGFCPF.'&
KUCNKIJVVJGOQVQTUOC[UVCTV
CWVQOCVKECNN[
+PUVTWEVKQPOCPWCN
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2QUKVKQPQHQKNNGXGNUKIJVINCUU
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2QUKVKQPQHVJGUGTXKEGKPFKECVQT
%JGEMVJGQKNNGXGNFWTKPINQCFGFQRGTCVKQPVJGRQKPVGTQHNGXGNICWIG
)NOWUVTGIKUVGTKPVJGITGGP
TCPIGKHPQVRTGUUUVQRDWVVQP
%NQUGVJGCKTQWVNGVXCNXGCPFRTGUUVJGVGUVDWVVQPQPVQRQHVJGGNGEVTQPKEYCVGTFTCKP
VYQYCVGT
FTCKPUCTGRTQXKFGFQP(WNN(GCVWTGEQORTGUUQTUWPVKNVJGCKTU[UVGODGVYGGPVJGCKTTGEGKXGTCPFQWVNGV
XCNXGKUHWNN[FGRTGUUWTKUGF5GGUGEVKQP+PVTQFWEVKQPCPFUGEVKQP%QPFGPUCVGU[UVGOHQTNQECVKQPQHVJG
QWVNGVXCNXGCPFYCVGTFTCKP
2TGUUVJGGOGTIGPE[UVQRDWVVQP
9CKVWPVKNVJGEQORTGUUQTJCUFGRTGUUWTKUGF7PUETGYQKNHKNNGTRNWI
(%QPGVWTPVQRGTOKVCP[RTGUUWTG
KPVJGU[UVGOVQGUECRG9CKVCHGYOKPWVGU4GOQXGVJGRNWICPFCFFQKNWPVKNVJGNGXGNTGCEJGUVJG
HKNNGTQRGPKPI(KVCPFVKIJVGPVJGRNWI
(%
+HVJGEQNQWTGFRCTVQHUGTXKEGKPFKECVQT
8+UJQYUHWNNQWVTGRNCEGVJGCKTHKNVGTGNGOGPV4GUGVVJG
UGTXKEGKPFKECVQTD[RWUJKPIVJGMPQDKPVJGGZVTGOKV[QHVJGDQF[
9JGPCWVQOCVKEQRGTCVKQP.'&
KUNKVVJGTGIWNCVQTKUCWVQOCVKECNN[EQPVTQNNKPIVJGEQORTGUUQTKG
NQCFKPIWPNQCFKPIUVQRRKPIQHVJGOQVQTUCPFTGUVCTVKPI
4GIWNCTN[EJGEMVJCVEQPFGPUCVGKUFKUEJCTIGFFWTKPIQRGTCVKQP5GGUGEVKQP%QPFGPUCVGU[UVGOCPFKP
ECUGQHCP15&CNUQEJGEMVJGNGXGNKPVJGQKNEQNNGEVQTUGGUGEVKQP15&/CKPVGPCPEGCPFQRGTCVKPI
KPUVTWEVKQP6JGCOQWPVQHEQPFGPUCVGFGRGPFUQPGPXKTQPOGPVCNCPFYQTMKPIEQPFKVKQPU
+PUVTWEVKQPOCPWCN
%JGEMKPIVJGFKURNC[
2TQEGFWTG
%QPVTQNRCPGN'NGMVTQPKMQP++
1PEQORTGUUQTUGSWKRRGFYKVJCP'NGMVTQPKMQP++TGIWNCVQTEJGEMVJGFKURNC[
TGIWNCTN[HQTTGCFKPIU
CPFOGUUCIGU0QTOCNN[VJGFKURNC[UJQYUVJGEQORTGUUQTQWVNGVRTGUUWTGVJGUVCVWUQHVJG
EQORTGUUQTCPFVJGCDDTGXKCVKQPUQHVJGHWPEVKQPUQHVJGMG[UDGNQYVJGFKURNC[4GOGF[VJGVTQWDNGKH
CNCTO.'&
KUNKVQTHNCUJGUUGGUGEVKQP5VCVWUFCVCOGPW
6JGFKURNC[
YKNNUJQYCUGTXKEGOGUUCIGKHCUGTXKEGRNCPKPVGTXCNJCUDGGPGZEGGFGFQTKHCUGTXKEG
NGXGNHQTCOQPKVQTGFEQORQPGPVJCUDGGPGZEGGFGF%CTT[QWVVJGUGTXKEGCEVKQPUQHVJGKPFKECVGFRNCPU
QTTGRNCEGVJGEQORQPGPVCPFTGUGVVJGTGNGXCPVVKOGTUGGUGEVKQP5VCVWUFCVCOGPW
5VQRRKPI
'NGMVTQPKMQPTGIWNCVQT
%QPVTQNRCPGNQH'NGMVTQPKMQP++
+PUVTWEVKQPOCPWCN
2TQEGFWTG
5VGR
#EVKQP
2TGUUUVQRDWVVQP
#WVQOCVKEQRGTCVKQP.'&
IQGUQWVCPFVJGEQORTGUUQT
UVQRUCHVGTUGEQPFUQHWPNQCFGFQRGTCVKQP
6QUVQRVJGEQORTGUUQTKPVJGGXGPVQHCPGOGTIGPE[RTGUUGOGTIGPE[UVQRDWVVQP
#NCTO.'&HNCUJGU
1PEQORTGUUQTUYKVJ'NGMVTQPKMQP++CHVGTTGOGF[KPIVJGHCWNVWPNQEMVJGDWVVQPD[
RWNNKPIKVQWVCPFRTGUU4UGVMG[
DGHQTGTGUVCTVKPI
%NQUGCKTQWVNGVXCNXG
#8UGGUGEVKQP+PVTQFWEVKQP
2TGUUVJGVGUVDWVVQPQPVQRQHVJGGNGEVTQPKEYCVGTFTCKP
UWPVKNVJGCKTU[UVGO
DGVYGGPCKTTGEGKXGTCPFQWVNGVXCNXGKUHWNN[FGRTGUUWTK\GF5GGUGEVKQP
%QPFGPUCVGU[UVGO
5YKVEJQHHVJGXQNVCIG
1PYCVGTEQQNGFEQORTGUUQTU
%NQUGVJGEQQNKPIYCVGTKPNGVXCNXG
+HHTGG\KPIVGORGTCVWTGUECPDGGZRGEVGFFTCKPVJGEQQNKPIU[UVGOEQORNGVGN[
6CMKPIQWVQHQRGTCVKQP
9CTPKPI
6JGQRGTCVQTOWUVCRRN[CNNTGNGXCPV5CHGV[RTGECWVKQPU
2TQEGFWTG
5VGR
#EVKQP
5VQRVJGEQORTGUUQTCPFENQUGVJGCKTQWVNGVXCNXG
2TGUUVJGVGUVDWVVQPQPVQRQHVJGGNGEVTQPKEYCVGTFTCKP
UWPVKNVJGCKTU[UVGO
DGVYGGPCKTTGEGKXGTCPFQWVNGVXCNXGKUHWNN[FGRTGUUWTK\GF%QPUWNVUGEVKQP
%QPFGPUCVGU[UVGOVQNQECVGVJGFTCKPXCNXG
5YKVEJQHHVJGXQNVCIGCPFFKUEQPPGEVVJGEQORTGUUQTHTQOVJGOCKPU
7PUETGYVJGQKNHKNNGTRNWIQPN[QPGVWTPVQRGTOKVCP[RTGUUWTGKPVJGU[UVGOVQ
GUECRG
%QPUWNVUGEVKQP1KNCPFQKNHKNVGTEJCPIGVQNQECVGVJGHKNNGTRNWI
5JWVQHHCPFFGRTGUUWTKUGVJGRCTVQHVJGCKTPGVYJKEJKUEQPPGEVGFVQVJGQWVNGV
XCNXG&KUEQPPGEVVJGEQORTGUUQTCKTQWVNGVRKRGHTQOVJGCKTPGV
1PYCVGTEQQNGFEQORTGUUQTU
+UQNCVGCPFFKUEQPPGEVVJGYCVGTU[UVGOHTQOVJGEQQNKPIYCVGTPGV
&TCKPVJGYCVGTEKTEWKV
&TCKPVJGQKN
&TCKPVJGEQPFGPUCVGEKTEWKVCPFFKUEQPPGEVVJGEQPFGPUCVGRKRKPIHTQOVJG
EQPFGPUCVGPGV
+PUVTWEVKQPOCPWCN
/CKPVGPCPEG
2TGXGPVKXGOCKPVGPCPEGUEJGFWNG
%QPVTQNRCPGN
%QPVTQNRCPGN'NGMVTQPKMQP++
9CTPKPI
$GHQTGECTT[KPIQWVCP[OCKPVGPCPEGTGRCKTYQTMQTCFLWUVOGPVURTQEGGFCU
HQNNQYU
5VQRVJGEQORTGUUQT
%NQUGVJGCKTQWVNGVXCNXGCPFRTGUUVJGVGUVDWVVQPQPVQRQHVJGGNGEVTQPKEYCVGT
FTCKP
UWPVKNVJGCKTU[UVGODGVYGGPCKTTGEGKXGTCPFCPFQWVNGVXCNXGKUHWNN[
FGRTGUUWTK\GF
2TGUUVJGGOGTIGPE[UVQRDWVVQP
5YKVEJQHHVJGXQNVCIG
&GRTGUUWTKUGVJGEQORTGUUQT
(QTFGVCKNGFKPUVTWEVKQPUUGGUGEVKQP2TQDNGOUQNXKPI
6JGQRGTCVQTOWUVCRRN[CNNTGNGXCPV5CHGV[RTGECWVKQPU
9CTTCPV[2TQFWEV.KCDKNKV[
7UGQPN[CWVJQTKUGFRCTVU#P[FCOCIGQTOCNHWPEVKQPECWUGFD[VJGWUGQHWPCWVJQTKUGFRCTVUKUPQV
EQXGTGFD[9CTTCPV[QT2TQFWEV.KCDKNKV[
5GTXKEGMKVU
(QTQXGTJCWNKPIQTECTT[KPIQWVRTGXGPVKXGOCKPVGPCPEGUGTXKEGMKVUCTGCXCKNCDNG
UGGUGEVKQP5GTXKEG
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%QPUWNV[QWT#VNCU%QREQ%WUVQOGT%GPVTG
+PUVTWEVKQPOCPWCN
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9JGPUGTXKEKPITGRNCEGCNNTGOQXGFICUMGVU1TKPIUCPFYCUJGTU
+PVGTXCNU
6JGNQECN#VNCU%QREQ%WUVQOGT%GPVTGOC[QXGTTWNGVJGOCKPVGPCPEGUEJGFWNGGURGEKCNN[VJGUGTXKEG
KPVGTXCNUFGRGPFKPIQPVJGGPXKTQPOGPVCNCPFYQTMKPIEQPFKVKQPUQHVJGEQORTGUUQT
6JGNQPIGTKPVGTXCNEJGEMUOWUVCNUQKPENWFGVJGUJQTVGTKPVGTXCNEJGEMU
5GTXKEGRNCPUHQTEQORTGUUQTUYKVJ'NGMVTQPKMQP++
$GUKFGUVJGFCKN[CPFOQPVJN[EJGEMUVJGUGTXKEGQRGTCVKQPUCTGITQWRGFKPRNCPU
ECNNGFUGTXKEGRNCPU#$CUURGEKHKGFKPVJGUEJGFWNGDGNQY
'CEJRNCPJCUCRTQITCOOGFVKOGKPVGTXCNCVYJKEJCNNUGTXKEGCEVKQPUDGNQPIKPIVQVJCV
RNCPCTGVQDGECTTKGFQWV9JGPTGCEJKPIVJGKPVGTXCNCOGUUCIGYKNNCRRGCTQPVJG
UETGGPKPFKECVKPIYJKEJUGTXKEGRNCPUCTGVQDGECTTKGFQWVUGGUGEVKQP5VCVWUFCVC
OGPW#HVGTUGTXKEKPIVJGKPVGTXCNUOWUVDGTGUGVUGGUGEVKQP5GTXKEGOGPW
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%JGEMCKTHKNVGTUGTXKEGKPFKECVQT
1PYCVGTEQQNGFWPKVU%JGEMHQTEQQNKPIYCVGTHNQY
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4GOQXGCKTHKNVGTGNGOGPV%NGCPWUKPICPCKTLGVCPFKPURGEV
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4GRNCEGFCOCIGFQTJGCXKN[EQPVCOKPCVGFGNGOGPVU
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GNGEVTQPKEYCVGTFTCKP
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HKNVGT
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4GRNCEGCKTHKNVGTGNGOGPV
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%CTT[QWVCP.'&FKURNC[VGUV
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1PYCVGTEQQNGFWPKVU%JGEMHQTRQUUKDNGYCVGTNGCMCIG
%NGCPEQQNGTU
+PUVTWEVKQPOCPWCN
4WPPKPIJQWTU
5GTXKEGRNCP
1RGTCVKQP
%NGCPEQPFGPUGTQHFT[GT
6GUVVGORGTCVWTGUJWVFQYPHWPEVKQP
6GUVUCHGV[XCNXGU
+H#VNCU%QREQ4QVQ:VGPF&WV[(NWKFKUWUGFEJCPIGQKNCPFQKN
HKNVGT
4GRNCEGQKNUGRCTCVQT
1TYJGPVJGRTGUUWTGFTQRQXGTVJGUGRCTCVQTGZEGGFUDCT
RUK%JGEMVJGRTGUUWTGFTQRYJGPVJGEQORTGUUQTKU
TWPPKPINQCFGFCPFRTGHGTCDN[YKVJCUVCDNGYQTMKPIRTGUUWTG
+ORQTVCPV
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(QTVJGEJCPIGKPVGTXCNQHQKNCPFQKNHKNVGTKPGZVTGOGEQPFKVKQPUQHVGORGTCVWTG
JWOKFKV[QTEQQNKPICKTEQPUWNV[QWT#VNCU%QREQ%WUVQOGT%GPVTG
#P[NGCMCIGUJQWNFDGCVVGPFGFVQKOOGFKCVGN[&COCIGFHNGZKDNGUQTHNGZKDNG
LQKPVUOWUVDGTGRNCEGF
&TKXGOQVQT
&GUETKRVKQP
6JGDGCTKPICVVJGPQPFTKXGGPFUKFGKUITGCUGFHQTNKHG
6JGDGCTKPICVVJGFTKXGGPFUKFGKUNWDTKECVGFD[VJGQKNU[UVGO
1KNURGEKHKECVKQPU
0GXGTOKZNWDTKECPVUQHFKHHGTGPVDTCPFUQTV[RGUCUVJG[OC[PQVDGEQORCVKDNGCPF
VJGQKNOKZYKNNJCXGKPHGTKQTRTQRGTVKGU#NCDGNKPFKECVKPIVJGV[RGQHQKNHKNNGFGZ
HCEVQT[KUUVWEMQPVJGCKTTGEGKXGTQKNVCPM
#NYC[UFTCKPVJGEQORTGUUQTQKNCVCNNFTCKPRQKPVU7UGFQKNNGHVKPVJGEQORTGUUQT
ECPEQPVCOKPCVGVJGQKNU[UVGOCPFECPUJQTVGPVJGNKHGVKOGQHVJGPGYQKN
+VKUUVTQPIN[TGEQOOGPFGFVQWUGIGPWKPG#VNCU%QREQ.WDTKECPVU6JG[CTGVJGTGUWNVQH[GCTUQH
GZVGPUKXGHKGNFGZRGTKGPEGCPFTGUGCTEJKPQWTNCDU5GGUGEVKQP2TGXGPVKXGOCKPVGPCPEGUEJGFWNGHQT
TGRNCEGOGPVKPVGTXCNUCPFUGEVKQP5GTXKEG-KVUHQTRCTVPWODGTKPHQTOCVKQP
#VNCU%QREQ4QVQ+PLGEV(NWKF
#VNCU%QREQ4QVQ+PLGEV(NWKFKUCURGEKCNN[FGXGNQRRGFNWDTKECPVHQTWUGKPUKPINGUVCIGQKNKPLGEVGFUETGY
EQORTGUUQTU+VUURGEKHKEEQORQUKVKQPMGGRUVJGEQORTGUUQTKPGZEGNNGPVEQPFKVKQP4QVQ+PLGEV(NWKFECP
DGWUGFHQTEQORTGUUQTUQRGTCVKPICVCODKGPVVGORGTCVWTGUDGVYGGPu%
u(CPFu%
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EQORTGUUQTUYJKEJMGGRUVJGEQORTGUUQTKPGZEGNNGPVEQPFKVKQP4QVQ:VGPF&WV[(NWKFECPDGWUGFHQT
EQORTGUUQTUQRGTCVKPICVCODKGPVVGORGTCVWTGUDGVYGGPu%
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KPLGEVGFUETGYEQORTGUUQTUVJCVRTQXKFGCKTHQTVJGHQQFKPFWUVT[6JKUNWDTKECPVMGGRUVJGEQORTGUUQT
KPGZEGNNGPVEQPFKVKQP4QVQ(QQFITCFG(NWKFECPDGWUGFHQTEQORTGUUQTUQRGTCVKPICVCODKGPV
VGORGTCVWTGUDGVYGGPu%
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1KNCPFQKNHKNVGTEJCPIG
9CTPKPI
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WPUETGYKPIQKNHKNNGTRNWI
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RQUKVKQPQHVJGXGPVRNWI
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FTCKPCPFXGPVRNWIUCHVGTFTCKPKPI
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4WPVJGEQORTGUUQTNQCFGFHQTCHGYOKPWVGU5VQRVJGEQORTGUUQTCPFYCKVCHGYOKPWVGU
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VJGU[UVGOVQGUECRG4GOQXGVJGRNWI
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6KIJVGPVJGHKNNGTRNWI
4GUGVVJGUGTXKEGVKOGT
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CEVKQPUKPVJGTGNGXCPV5GTXKEG2NCPTGUGVVJGUGTXKEGYCTPKPIUGGUGEVKQP5GTXKEGOGPW
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7UGFHKNVGTUQTCP[QVJGTWUGFOCVGTKCN
GIFGUKEECPVNWDTKECPVUENGCPKPITCIUOCEJKPGRCTVUGVE
OWUVDGFKURQUGFQHKPCPGPXKTQPOGPVCNN[HTKGPFN[CPFUCHGOCPPGTCPFKPNKPGYKVJVJGNQECN
TGEQOOGPFCVKQPUCPFGPXKTQPOGPVCNNGIKUNCVKQP
5VQTCIGCHVGTKPUVCNNCVKQP
2TQEGFWTG
4WPVJGEQORTGUUQTGIVYKEGCYGGMWPVKNYCTO.QCFCPFWPNQCFVJGEQORTGUUQTCHGYVKOGU
+HVJGEQORTGUUQTKUIQKPIVQDGUVQTGFYKVJQWVTWPPKPIHTQOVKOGVQVKOG
RTQVGEVKXGOGCUWTGUOWUVDGVCMGP%QPUWNV#VNCU%QREQ
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5GTXKEGMKVU
5GTXKEGMKVU
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EQORTKUGCNNRCTVUTGSWKTGFHQTUGTXKEKPIVJGEQORQPGPVCPFQHHGTVJGDGPGHKVUQHIGPWKPG#VNCU%QREQ
RCTVUYJKNGMGGRKPIVJGOCKPVGPCPEGDWFIGVNQY
#NUQCHWNNTCPIGQHGZVGPUKXGN[VGUVGFNWDTKECPVUUWKVCDNGHQT[QWTURGEKHKEPGGFUKUCXCKNCDNGVQMGGRVJG
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5GTXKEGKPFKECVQT
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5VQRVJGEQORTGUUQT5YKVEJQHHVJGXQNVCIG
4GNGCUGVJGUPCRENKRUQHCKTHKNVGT
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VTCR&KUECTFVJGHKNVGTGNGOGPV
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4GUGVUGTXKEGKPFKECVQT
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4GUGVVJGCKTHKNVGTUGTXKEGYCTPKPI
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%QQNGTU
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1PCKTEQQNGFEQORTGUUQTU
5VQRVJGEQORTGUUQTENQUGVJGCKTQWVNGVXCNXGCPFUYKVEJQHHVJGXQNVCIG
%QXGTCNNRCTVUWPFGTVJGEQQNGTU
4GOQXGVJGUKFGDCHHNGVJCVGPENQUGUVJGHCPEQORCTVOGPV
4GOQXGCP[FKTVHTQOVJGEQQNGTUYKVJCHKDTGDTWUJ$TWUJKPVJGFKTGEVKQPQHVJGEQQNKPIHKPU
#NUQTGOQXGCP[FKTVHTQOVJGHCPYKVJCHKDTGDTWUJ
6JGPENGCPYKVJCPCKTLGVKPVJGTGXGTUGFKTGEVKQPVQPQTOCNHNQY7UGNQYRTGUUWTGCKTKHPGEGUUCT[
VJGRTGUUWTGOC[DGKPETGCUGFWRVQDCT
G
RUKI
+HKVKUPGEGUUCT[VQYCUJVJGEQQNGTUYKVJCENGCPKPICIGPVEQPUWNV#VNCU%QREQ
4GOQXGVJGEQXGTWUGFFWTKPIENGCPKPI
/QWPVVJGUKFGDCHHNGVJCVGPENQUGUVJGHCPEQORCTVOGPV
1PYCVGTEQQNGFEQORTGUUQTU
%QPUWNV#VNCU%QREQCDQWVENGCPKPI
5CHGV[XCNXGU
.QECVKQPQHUCHGV[XCNXG
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1RGTCVKPI
1RGTCVGVJGUCHGV[XCNXGD[WPUETGYKPIVJGECRQPGQTVYQVWTPUCPFTGVKIJVGPKPIKV
6GUVKPI
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5GGUGEVKQP2TQDNGOUQNXKPI
8CNXG
58ECPDGVGUVGFQPCUGRCTCVGCKTNKPG+HVJGXCNXGFQGUPQVQRGPCVVJGUGVRTGUUWTGUVCORGF
QPVJGXCNXGEQPUWNV#VNCU%QREQ
9CTPKPI
0QCFLWUVOGPVUCTGCNNQYGF0GXGTTWPVJGEQORTGUUQTYKVJQWVUCHGV[XCNXG
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2TQDNGOUQNXKPI
2TQDNGOUQNXKPI
9CTPKPI
$GHQTGECTT[KPIQWVCP[OCKPVGPCPEGTGRCKTYQTMQTCFLWUVOGPVRTGUUVJGUVQR
DWVVQPYCKVWPVKNVJGEQORTGUUQTJCUUVQRRGF
CRRTQZUGEQPFUCPFENQUGVJG
CKTQWVNGVXCNXG
2TGUUVJGVGUVDWVVQPQPVQRQHVJGGNGEVTQPKEYCVGTFTCKPWPKVVJGCKTU[UVGO
DGVYGGPVJGCKTTGEGKXGTCPFQWVNGVXCNXGKUHWNN[FGRTGUUWTK\GF
2TGUUVJGGOGTIGPE[UVQRDWVVQPCPFUYKVEJQHHVJGXQNVCIG
&GRTGUUWTKUGVJGEQORTGUUQTD[QRGPKPIVJGQKNHKNNGTRNWIQPGVWTP
(QTNQECVKQPQHEQORQPGPVUUGGUGEVKQPU
+PVTQFWEVKQP
%QPFGPUCVGU[UVGO
+PKVKCNUVCTVWR
1RGPCPFNQEMVJGKUQNCVKPIUYKVEJ
6JGCKTQWVNGVXCNXGECPDGNQEMGFFWTKPIOCKPVGPCPEGQTTGRCKTCUHQNNQYU
%NQUGVJGXCNXG
4GOQXGVJGUETGYHKZKPIVJGJCPFNGYKVJVJGYTGPEJFGNKXGTGFYKVJVJG
EQORTGUUQT
.KHVVJGJCPFNGCPFVWTPKVWPVKNVJGUNQVQHVJGJCPFNGHKVUQXGTVJGDNQEMKPIGFIG
QPVJGXCNXGDQF[
(KVVJGUETGY
6JGQRGTCVQTOWUVCRRN[CNNTGNGXCPV5CHGV[RTGECWVKQPU
(CWNVUCPFTGOGFKGU
1PEQORTGUUQTUGSWKRRGFYKVJCP'NGMVTQPKMQP++TGIWNCVQTKHVJGCNCTO.'&KUNKVQTHNCUJGUEQPUWNV
UGEVKQPU5VCVWUFCVCOGPWCPF5GTXKEGOGPW
%QPFKVKQP
(CWNV
%QORTGUUQTUVCTVUTWPPKPIDWV 5QNGPQKFXCNXGQWVQHQTFGT
FQGUPQVNQCFCHVGTCFGNC[VKOG
4GOGF[
4GRNCEGXCNXG
+PNGVXCNXGUVWEMKPENQUGF
RQUKVKQP
*CXGXCNXGEJGEMGF
.GCMKPEQPVTQNCKTHNGZKDNGU
4GRNCEGNGCMKPIHNGZKDNG
/KPKOWORTGUUWTGXCNXGNGCMKPI *CXGXCNXGEJGEMGF
YJGPPGVKUFGRTGUUWTKUGF
%QPFKVKQP
(CWNV
4GOGF[
%QORTGUUQTFQGUPQVWPNQCF
UCHGV[XCNXGDNQYU
5QNGPQKFXCNXGQWVQHQTFGT
4GRNCEGXCNXG
+PNGVXCNXGFQGUPQVENQUG
*CXGXCNXGEJGEMGF
+PUVTWEVKQPOCPWCN
%QPFKVKQP
(CWNV
4GOGF[
%QPFGPUCVGKUPQVFKUEJCTIGF
HTQOEQPFGPUCVGUGRCTCVQT
FWTKPINQCFKPI
&KUEJCTIGHNGZKDNGENQIIGF
%JGEMCPFEQTTGEVCU
PGEGUUCT[
%QPFKVKQP
(CWNV
4GOGF[
%QORTGUUQTCKTQWVRWVQT
RTGUUWTGDGNQYPQTOCN
#KTEQPUWORVKQPGZEGGFUCKT
FGNKXGT[QHEQORTGUUQT
%JGEMGSWKROGPVEQPPGEVGF
%JQMGFCKTHKNVGTGNGOGPV
4GRNCEGHKNVGTGNGOGPV
5QNGPQKFXCNXGOCNHWPEVKQPKPI
4GRNCEGXCNXG
.GCMKPEQPVTQNCKTHNGZKDNGU
4GRNCEGNGCMKPIHNGZKDNGU
+PNGVXCNXGFQGUPQVHWNN[QRGP
*CXGXCNXGEJGEMGF
1KNUGRCTCVQTENQIIGF
*CXGGNGOGPVTGRNCEGF
#KTNGCMCIG
*CXGNGCMUTGRCKTGF
5CHGV[XCNXGNGCMKPI
*CXGXCNXGTGRNCEGF
%QORTGUUQTGNGOGPVQWVQH
QTFGT
%QPUWNV#VNCU%QREQ
%QPFKVKQP
(CWNV
4GOGF[
'ZEGUUKXGQKNHNQYVJTQWIJCKT
KPNGVHKNVGTCHVGTUVQRRKPI
%JGEMXCNXGNGCMKPIQTQKNUVQR
XCNXGLCOOGF
4GRNCEGFGHGEVKXGRCTVU
4GRNCEGCKTHKNVGTGNGOGPV
%QPFKVKQP
(CWNV
4GOGF[
5CHGV[XCNXGDNQYUCHVGT
NQCFKPI
+PNGVXCNXGOCNHWPEVKQPKPI
*CXGXCNXGEJGEMGF
/KPKOWORTGUUWTGXCNXG
OCNHWPEVKQPKPI
*CXGXCNXGEJGEMGF
5CHGV[XCNXGQWVQHQTFGT
*CXGXCNXGTGRNCEGF
%QORTGUUQTGNGOGPVQWVQH
QTFGT
%QPUWNV#VNCU%QREQ
1KNUGRCTCVQTGNGOGPVENQIIGF
*CXGGNGOGPVTGRNCEGF
+PUVTWEVKQPOCPWCN
%QPFKVKQP
(CWNV
4GOGF[
%QORTGUUQTGNGOGPVQWVNGV
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6QVCNCOQWPV
TGHTKIGTCPV(WNN
(GCVWTGWPKVUYKVJ
+(&
6QVCNCOQWPV
ND
TGHTKIGTCPV(WNN
(GCVWTGWPKVUYKVJ
+(&
NOKP
%QQNKPIYCVGT
EQPUWORVKQP
CV
YCVGTKPNGV
VGORGTCVWTGDGNQY
u%CPF
VGORGTCVWTGTKUGQH
u%YCVGT
EQQNGFWPKVU
+PUVTWEVKQPOCPWCN
7PKVU
DCT
DCT
DCT
DCT
EHO
%QQNKPIYCVGT
EQPUWORVKQP
CV
YCVGTKPNGV
VGORGTCVWTGDGNQY
u(CPF
VGORGTCVWTGTKUGQH
u(YCVGT
EQQNGFWPKVU
NOKP
%QQNKPIYCVGT
EQPUWORVKQP
CV
YCVGTKPNGV
VGORGTCVWTG
DGVYGGPCPF
u%CPF
VGORGTCVWTGTKUGQH
u%YCVGT
EQQNGFWPKVU
EHO
%QQNKPIYCVGT
EQPUWORVKQP
CV
YCVGTKPNGV
VGORGTCVWTG
DGVYGGPCPF
u(CPF
VGORGTCVWTGTKUGQH
u(YCVGT
EQQNGFWPKVU
1KNECRCEKV[CKT
EQQNGFWPKVU
1KNECRCEKV[CKT
EQQNGFWPKVU
75
ICN
1KNECRCEKV[CKT
EQQNGFWPKVU
+OR
ICN
1KNECRCEKV[CKT
EQQNGFWPKVU
EWHV
1KNECRCEKV[
YCVGTEQQNGFWPKVU
1KNECRCEKV[
YCVGTEQQNGFWPKVU
75
ICN
1KNECRCEKV[
YCVGTEQQNGFWPKVU
+OR
ICN
1KNECRCEKV[
YCVGTEQQNGFWPKVU
EWHV
5QWPFRTGUUWTG
NGXGN9QTMRNCEG
CPF9QTMRNCEG
(WNN(GCVWTG
CEEQTFKPIVQ+51
F$
#
+PUVTWEVKQPOCPWCN
)#
7PKVU
DCT DCT
DCT
DCT
RUK
RUK
RUK
RUK
(TGSWGPE[
*\
/CZKOWO
WPNQCFKPIRTGUUWTG
DCT
G
/CZKOWO
WPNQCFKPIRTGUUWTG
RUKI
/CZKOWO
DCT
G
WPNQCFKPIRTGUUWTG
(WNN(GCVWTGWPKVU
YKVJ+(&
/CZKOWO
RUKI
WPNQCFKPIRTGUUWTG
(WNN(GCVWTGWPKVU
YKVJ+(&
0QOKPCNYQTMKPI
RTGUUWTG
DCT
G
0QOKPCNYQTMKPI
RTGUUWTG
RUKI
DCT
G
0QOKPCNYQTMKPI
RTGUUWTG9QTMRNCEG
(WNN(GCVWTGWPKVU
YKVJ+(&
RUKI
0QOKPCNYQTMKPI
RTGUUWTG9QTMRNCEG
(WNN(GCVWTGWPKVU
YKVJ+(&
2TGUUWTGFTQRQXGT
FT[GT(WNN(GCVWTG
WPKVUYKVJ+(&
DCT
G
2TGUUWTGFTQRQXGT
FT[GT(WNN(GCVWTG
WPKVUYKVJ+(&
RUKI
5GVRQKPV
VJGTOQUVCVKEXCNXG
u%
5GVRQKPV
VJGTOQUVCVKEXCNXG
u(
6GORGTCVWTGQHCKT
NGCXKPIQWVNGVXCNXG
CRRTQZCKTEQQNGF
WPKVU
u%
6GORGTCVWTGQHCKT
NGCXKPIQWVNGVXCNXG
CRRTQZCKTEQQNGF
WPKVU
u(
6GORGTCVWTGQHCKT
NGCXKPIQWVNGVXCNXG
CRRTQZYCVGT
EQQNGFWPKVU
u%
+PUVTWEVKQPOCPWCN
7PKVU
DCT DCT
DCT
DCT
RUK
RUK
RUK
RUK
6GORGTCVWTGQHCKT
NGCXKPIQWVNGVXCNXG
CRRTQZYCVGT
EQQNGFWPKVU
u(
6GORGTCVWTGQHCKT
NGCXKPIQWVNGVXCNXG
CRRTQZ(WNN
(GCVWTGWPKVUYKVJ
+(&
u%
6GORGTCVWTGQHCKT
NGCXKPIQWVNGVXCNXG
CRRTQZ(WNN
(GCVWTGWPKVUYKVJ
+(&
u(
2TGUUWTGFGYRQKPV
(WNN(GCVWTGWPKVU
YKVJ+(&
u%
2TGUUWTGFGYRQKPV
(WNN(GCVWTGWPKVU
YKVJ+(&
u(
.)
.)
.)
.)
.)
.)
.)
.)
0QOKPCNOQVQTTCVKPI M9
0QOKPCNOQVQTTCVKPI JR
&TKXGOQVQT
5+'/'05
/QVQTUJCHVURGGF
TOKP
2QYGTEQPUWORVKQP
FT[GTCVHWNNNQCF
(WNN(GCVWTGWPKVU
YKVJ+(&
M9
2QYGTEQPUWORVKQP
FT[GTCVHWNNNQCF
(WNN(GCVWTGWPKVU
YKVJ+(&
JR
2QYGTEQPUWORVKQP
FT[GTCVPQNQCF
(WNN(GCVWTGWPKVU
YKVJ+(&
M9
2QYGTEQPUWORVKQP
FT[GTCVPQNQCF
(WNN(GCVWTGWPKVU
YKVJ+(&
JR
4C
4C
4C
4C
4C
4C
4C
4C
4GHTKIGTCPVV[RG
(WNN(GCVWTGWPKVU
YKVJ+(&
6QVCNCOQWPV
TGHTKIGTCPV(WNN
(GCVWTGWPKVUYKVJ
+(&
MI
+PUVTWEVKQPOCPWCN
7PKVU
DCT DCT
DCT
DCT
RUK
RUK
RUK
RUK
ND
NOKP
%QQNKPIYCVGT
EQPUWORVKQP
CV
YCVGTKPNGV
VGORGTCVWTGDGNQY
u%CPF
VGORGTCVWTGTKUGQH
u%YCVGTEQQNGF
WPKVU
EHO
%QQNKPIYCVGT
EQPUWORVKQP
CV
YCVGTKPNGV
VGORGTCVWTGDGNQY
u(CPF
VGORGTCVWTGTKUGQH
u(YCVGTEQQNGF
WPKVU
1KNECRCEKV[
1KNECRCEKV[
75
ICN
1KNECRCEKV[
+OR
ICN
1KNECRCEKV[
EWHV
6QVCNCOQWPV
TGHTKIGTCPV(WNN
(GCVWTGWPKVUYKVJ
+(&
5QWPFRTGUUWTGNGXGN F$
#
9QTMRNCEGCPF
9QTMRNCEG(WNN
(GCVWTG
CEEQTFKPIVQ
+51
)#
7PKVU
DCT DCT
DCT
DCT
RUK
RUK
RUK
RUK
(TGSWGPE[
*\
/CZKOWO
WPNQCFKPIRTGUUWTG
DCT
G
/CZKOWO
WPNQCFKPIRTGUUWTG
RUKI
/CZKOWO
DCT
G
WPNQCFKPIRTGUUWTG
(WNN(GCVWTGWPKVU
YKVJ+(&
/CZKOWO
RUKI
WPNQCFKPIRTGUUWTG
(WNN(GCVWTGWPKVU
YKVJ+(&
+PUVTWEVKQPOCPWCN
7PKVU
DCT DCT
DCT
DCT
RUK
RUK
RUK
RUK
0QOKPCNYQTMKPI
RTGUUWTG
DCT
G
0QOKPCNYQTMKPI
RTGUUWTG
RUKI
0QOKPCNYQTMKPI
DCT
G
RTGUUWTG9QTMRNCEG
(WNN(GCVWTGWPKVU
YKVJ+(&
0QOKPCNYQTMKPI
RUKI
RTGUUWTG9QTMRNCEG
(WNN(GCVWTGWPKVU
YKVJ+(&
2TGUUWTGFTQRQXGT
FT[GT(WNN(GCVWTG
WPKVUYKVJ+(&
DCT
G
2TGUUWTGFTQRQXGT
FT[GT(WNN(GCVWTG
WPKVUYKVJ+(&
RUKI
5GVRQKPV
VJGTOQUVCVKEXCNXG
u%
5GVRQKPV
VJGTOQUVCVKEXCNXG
u(
6GORGTCVWTGQHCKT
NGCXKPIQWVNGVXCNXG
CRRTQZCKTEQQNGF
WPKVU
u%
6GORGTCVWTGQHCKT
NGCXKPIQWVNGVXCNXG
CRRTQZCKTEQQNGF
WPKVU
u(
6GORGTCVWTGQHCKT
NGCXKPIQWVNGVXCNXG
CRRTQZYCVGT
EQQNGFWPKVU
u%
6GORGTCVWTGQHCKT
NGCXKPIQWVNGVXCNXG
CRRTQZYCVGT
EQQNGFWPKVU
u(
6GORGTCVWTGQHCKT
NGCXKPIQWVNGVXCNXG
CRRTQZ(WNN
(GCVWTGWPKVUYKVJ
+(&
u%
6GORGTCVWTGQHCKT
NGCXKPIQWVNGVXCNXG
CRRTQZ(WNN
(GCVWTGWPKVUYKVJ
+(&
u(
+PUVTWEVKQPOCPWCN
7PKVU
DCT DCT
DCT
DCT
RUK
RUK
RUK
RUK
2TGUUWTGFGYRQKPV
(WNN(GCVWTGWPKVU
YKVJ+(&
u%
2TGUUWTGFGYRQKPV
(WNN(GCVWTGWPKVU
YKVJ+(&
u(
.)
.)
.)
.)
.)
.)
.)
.)
0QOKPCNOQVQTTCVKPI M9
0QOKPCNOQVQTTCVKPI JR
2QYGTEQPUWORVKQP
FT[GTCVHWNNNQCF
(WNN(GCVWTGWPKVU
YKVJ+(&
M9
2QYGTEQPUWORVKQP
FT[GTCVHWNNNQCF
(WNN(GCVWTGWPKVU
YKVJ+(&
JR
2QYGTEQPUWORVKQP
FT[GTCVPQNQCF
(WNN(GCVWTGWPKVU
YKVJ+(&
M9
2QYGTEQPUWORVKQP
FT[GTCVPQNQCF
(WNN(GCVWTGWPKVU
YKVJ+(&
JR
4C
4C
4C
4C
4C
4C
4C
4C
&TKXGOQVQT
5+'/'05
/QVQTUJCHVURGGF
TOKP
4GHTKIGTCPVV[RG
(WNN(GCVWTGWPKVU
YKVJ+(&
6QVCNCOQWPV
TGHTKIGTCPV(WNN
(GCVWTGWPKVUYKVJ
+(&
MI
6QVCNCOQWPV
TGHTKIGTCPV(WNN
(GCVWTGWPKVUYKVJ
+(&
ND
+PUVTWEVKQPOCPWCN
7PKVU
DCT DCT
DCT
DCT
RUK
RUK
RUK
RUK
1KNECRCEKV[
1KNECRCEKV[
75
ICN
1KNECRCEKV[
+OR
ICN
1KNECRCEKV[
EWHV
F$
#
5QWPFRTGUUWTG
NGXGN9QTMRNCEGCPF
9QTMRNCEG(WNN
(GCVWTG
CEEQTFKPIVQ
+51
+PUVTWEVKQPOCPWCN
+PUVTWEVKQPUHQTWUGQHCKTTGEGKXGT
+PUVTWEVKQPUHQTWUG
+PUVTWEVKQPU
6JKUXGUUGNECPEQPVCKPRTGUUWTKUGFCKTVJKUECPDGRQVGPVKCNN[FCPIGTQWUKHVJG
GSWKROGPVKUOKUWUGF
6JKUXGUUGNOWUVQPN[DGWUGFCUCEQORTGUUGFCKTQKNUGRCTCVQTCPFOWUVDGQRGTCVGF
YKVJKPVJGNKOKVUURGEKHKGFQPVJGFCVCRNCVG
0QCNVGTCVKQPUOWUVDGOCFGVQVJKUXGUUGND[YGNFKPIFTKNNKPIQTQVJGTOGEJCPKECN
OGVJQFUYKVJQWVVJGYTKVVGPRGTOKUUKQPQHVJGOCPWHCEVWTGT
6JGRTGUUWTGCPFVGORGTCVWTGQHVJKUXGUUGNOWUVDGENGCTN[KPFKECVGF
6JGUCHGV[XCNXGOWUVEQTTGURQPFYKVJRTGUUWTGUWTIGUQHVKOGUVJGOCZKOWO
CNNQYCDNGQRGTCVKPIRTGUUWTG+VUJQWNFIWCTCPVGGVJCVVJGRTGUUWTGYKNNPQV
RGTOCPGPVN[GZEGGFVJGOCZKOWOCNNQYCDNGQRGTCVKPIRTGUUWTGQHVJGXGUUGN
7UGQPN[QKNCUURGEKHKGFD[VJGOCPWHCEVWTGT
1TKIKPCNDQNVUJCXGVQDGWUGFCHVGTQRGPKPIHQTKPURGEVKQP6JGOCZKOWOVQTSWGJCUVQ
DGVCMGPKPVQEQPUKFGTCVKQPHQT/DQNVU0O
NDHHV
HQT/DQNVU
0O
NDHHV
+PUVTWEVKQPOCPWCN
)WKFGNKPGUHQTKPURGEVKQP
)WKFGNKPGUHQTKPURGEVKQP
)WKFGNKPGU
1PVJG&GENCTCVKQPQH%QPHQTOKV[&GENCTCVKQPD[VJG/CPWHCEVWTGTVJGJCTOQPKUGFCPFQTQVJGT
UVCPFCTFUVJCVJCXGDGGPWUGFHQTVJGFGUKIPCTGUJQYPCPFQTTGHGTTGFVQ
6JG&GENCTCVKQPQH%QPHQTOKV[&GENCTCVKQPD[VJG/CPWHCEVWTGTKURCTVQHVJGFQEWOGPVCVKQPVJCVKU
UWRRNKGFYKVJVJKUEQORTGUUQT
.QECNNGICNTGSWKTGOGPVUCPFQTWUGQWVUKFGVJGNKOKVUCPFQTEQPFKVKQPUCUURGEKHKGFD[#VNCU%QREQOC[
TGSWKTGQVJGTKPURGEVKQPRGTKQFUCUOGPVKQPGFDGNQY
+PUVTWEVKQPOCPWCN
2'&
2TGUUWTGGSWKROGPVFKTGEVKXGU
%QORQPGPVUUWDLGEVVQ'%2TGUUWTG'SWKROGPV&KTGEVKXG
6JGHQNNQYKPIVCDNGEQPVCKPUVJGPGEGUUCT[KPHQTOCVKQPHQTVJGKPURGEVKQPQHCNNRTGUUWTGGSWKROGPVQH
ECVGIQT[++CPFJKIJGTCEEQTFKPIVQVJG2TGUUWTG'SWKROGPV&KTGEVKXG'%CPFCNNRTGUUWTG
GSWKROGPVCEEQTFKPIVQVJG5KORNG2TGUUWTG8GUUGN&KTGEVKXG''%
%QORTGUUQTV[RG
%QORQPGPV
&GUETKRVKQP
8QNWOG
&GUKIP
RTGUUWTG
/KPKOWOCPF 2'&
OCZKOWO
%NCUU
FGUKIP
VGORGTCVWTG
)#
WRVQ)#
8GUUGN
N
DCT
G
u%
u%
++
5CHGV[XCNXG
+8
5CHGV[XCNXG
+8
5CHGV[XCNXG
+8
5CHGV[XCNXG
+8
%QORTGUUQTV[RG
%QORQPGPV
*[FTQUVCVKE
KPURGEVKQP
TGSWKTGOGPVU
8GUUGN
Z
OO
[GCTU
[GCTU
5CHGV[
XCNXG
5CHGV[
XCNXG
5CHGV[
XCNXG
5CHGV[
XCNXG
6JGPWODGTQHE[ENGUTGHGTUVQVJGPWODGTQHE[ENGUHTQODCT
GVQOCZKOWORTGUUWTG
1VJGTKPURGEVKQPVGEJPKSWGUUWEJCUWNVTCUQPKEQT:TC[CTGGSWKXCNGPVVQJ[FTQUVCVKEVGUVKPIHQTVJKU
GSWKROGPV
6JGEQORTGUUQTUEQPHQTOVQ2'&UOCNNGTVJCPECVGIQT[++
Instruction Book