DKDBSQNKTW
.MCDQGNTC1DO@Q@SHD
q $DMDUDMSTDDKMNNCY@JDKHIJD
VHIYHFHMF@@MCDDKDJSQHRBGD
GTHRHMRS@KK@SHDNEGDS@@MRKTHSRMNDQ
SDMADGNDUDU@MCDHMRS@KK@SHDU@M
CHS@OO@Q@@SL@FTHSRKTHSDMCCNNQ
DDMC@@QSNDADUNDFCODQRNNM
THSFDUNDQCVNQCDM'DSADSQDEEDMCD
RSNOBNMS@BSCHDMSNNJM@DUDMSTDKD
NMCDQNEHMANTVFDL@JJDKHIJ
ADQDHJA@@QSDYHIM6DQJY@@LGDCDM
VDKJDCNNQODQRNMDMYNMCDQCD
MNNCY@JDKHIJDJDMMHRTHSFDUNDQC
VNQCDMJTMMDMRBG@CDNEKDSRDKSNS
FDUNKFGDAADM
q +@@SHMRODBSHDDMNE
GDQRSDKVDQJY@@LGDCDMTHSUNDQDM
CNNQCD$+$"31.+472$15("$DM
K@@SFDDM@MCDQDC@MNQHFHMDKD
#(231(/ 132NMCDQCDKDMOK@@SRDM
q #HS@OO@Q@@SADU@SJNNKV@SDQRSNEEDM
HMCDJNTCDJQHMFKNNOGDS
NMCDQGNTCDMGDSAHIUTKKDMCHDMS
C@@QNLTHSRKTHSDMCCNNQCNNQGDS
ADCQHIE@@MFDVDYDMCDRJTMCHF
ODQRNMDDKTHSFDUNDQCSDVNQCDM
q 3Q@BGSHMFDU@KU@MRSNQHMFNEDDM
CDEDBSCHS@OO@Q@@SMHDSYDKESD
QDO@QDQDM1DO@Q@SHDRVDKJDCNNQ
MHDSCDRJTMCHFDODQRNMDM
THSFDUNDQCVNQCDMJTMMDMSNS
RBG@CDNEKDSRDKKDHCDM1@@COKDDF
$+$"31.+472$15("$
&DAQTHJ
q 'THRGNTCDKHIJDJNDKDMNE
UQHDR@OO@Q@SDMYHIMTHSRKTHSDMC
ADCNDKCUNNQGDSADV@QDMDMNE
HMUQHDYDMU@MDDSNECQHMJA@QD
OQNCTBSDM
q #DADRSDQDRTKS@SDMVNQCDMADQDHJS
AHIDDMNLFDUHMFRSDLODQ@STTQ
STRRDM¦"DM¦"JK@RRD3
STRRDM¦"DM¦"JK@RRD23
STRRDM¦"DM¦"JK@RRD-
¦"DM¦"JK@RRD2-CDJK@RRD
RS@@SNOGDSJDMOK@@SIDUDQLDKC
SSDMSHD
TCHDMSMHDS@KKDDMQDJDMHMF
SDGNTCDMLDSCD
NLFDUHMFRSDLODQ@STTQUNNQCHS
SXODOQNCTBSL@@QSDUDMRLDSCD
UNKFDMCD@@MVHIYHMFDMV@MMDDQCD
NLFDUHMFRSDLODQ@STTQNMCDQCD
@@MFDCTHCDLHMHLTLV@@QCDC@@KS
VNQCSCDADV@@QSDLODQ@STTQHMGDS
UQHDRU@JMHDSLDDQFDF@Q@MCDDQCT
JTMSCDADV@@QCDKDUDMRLHCCDKDM
C@MGDSADRSDYNRMDKLNFDKHIJ
MTSSHFDM
q 5NKFCDQ@@CFDUHMFDMU@MCD
E@AQHJ@MSNOLDSADSQDJJHMFSNS
V@@QDMGNDTROHIYDMDMCQ@MJDM
ADV@@QSNEHMUQHDRS.MSCNNHCD
CHDOUQHDROQNCTBSDMLNFDMNL
FDYNMCGDHCRQDCDMDMMHDSVDCDQNL
HMFDUQNQDMVNQCDM
q #DUQHDYDMCDAHMMDMV@MCDMNE
UK@JJDMHMGDS@OO@Q@@SADU@SSDM
JNDKLHCCDK/K@@SRFDDMRBGDQOD
UNNQVDQODMSDFDMYNMV@MCNE
UK@JDMRBGQ@@ODUDMLHMLDS
LDS@KDMUNNQVDQODMQHIONEHIR@E
+DJJ@FDJ@MGDSFDUNKFYHIM
GDSFDDMDDMNMGDQRSDKA@QDRBG@CD
@@MGDS@OO@Q@@SDMADCDQEU@MCD
KDUDMRLHCCDKDMUDQNNQY@@JS
q /K@@SRFDDMJNNKYTTQGNTCDMCDNE
LNTRRDQDMCDCQ@MJDMHMGDS
UQHDRU@JGDSUQHDRFDCDDKSDNECD
UQHDYDQCDAKHJIDRNEEKDRIDRJTMMDM
CNNQADUQHDYHMFU@MCDHMGNTC
DWOKNCDQDM
DKDBSQNKTW
1DO@Q@SHDUNNQV@@QCDM
.MYD QDO@Q@SHDUNNQV@@QCDM YHIM BNMENQL CD @EROQ@@J STRRDM CD
"NMRTLDMSDMANMCDM5KDG@M
QS @MCDBNMRTLDMSY@KM@DDMLDKCHMFU@MDDMRSNQHMFYNLNFDKHIJCHQDBS
CNBGTHSDQKHIJAHMMDMġġMVDQJC@FVNQCDMLDCDFDCDDKCNOVDKJDC@FGDS
ADYNDJU@MCDSDBGMHBTRY@KOK@@SRUHMCDM#DQDO@Q@SHDY@K@KRQDFDKAHMMDM
YDUDMVDQJC@FDMM@CDLDKCHMFYHIMTHSFDUNDQC
QS
@ KUNQDMR CD QDO@Q@SHD VNQCS UDQQHBGS Y@K CD SDBGMHBTR DDM NMCDQYNDJ
THSUNDQDMM@@QCDUDQLNDCDKHIJDNNQY@@JU@MCDFDLDKCDRSNQHMF @MCD
G@MCGHDQU@MY@KGHIDDMYNM@TVJDTQHFLNFDKHIJDFDRODBHEHBDDQCDADFQNSHMF
L@JDM U@M CD SNS@KD QDO@Q@SHDJNRSDM HMBKTRHDE UNNQQHIJNRSDM DM CH@FMNRD
JNRSDM #DRFDUQ@@FC Y@K CDYD ADFQNSHMF CNNQ CD SDBGMHBTR RBGQHESDKHIJ
VNQCDMU@RSFDKDFC
A (MCHDM CD BNMRTLDMS LDS GDS ADFQNSD ADCQ@F MHDS @JJNNQC F@@S Y@K NO
UDQYNDJGDSSDQDO@QDQDMSNDRSDKVNQCDMSDQTFFDAQ@BGSHMCDRS@@SV@@QHM
GDS@@MCDSDBGMHBTRVDQC@@MFDANCDM-@C@SCHSHRFDRBGHDCYTKKDM@KKDDM
CDJNRSDMU@M UNNQQHICDM DM @QADHCRKNNM HM QDJDMHMFVNQCDMFDAQ@BGSNO
A@RHR U@M CD VDQJDKHIJD ADRSDCD SHIC C@MVDK U@M DDM UNNQ@E U@RSFDRSDKC
S@QHDE
QS (MCHDMSHICDMRGDSTHSUNDQDMU@MCDQDO@Q@SHDCTHCDKHIJVNQCSC@S
@ CD NNQROQNMJDKHIJD QDO@Q@SHD CNNQ QDCDKHIJDQVHIR MHDS SD UNNQYHDMD
NLRS@MCHFGDCDMMHDSSDFDMGDSADFQNSDADCQ@FJ@MVNQCDMTHSFDUNDQCNE
A NNJ@MCDQDC@MHMCDADFQNSHMFUNNQYHDMDQDO@Q@SHDRMNNCY@JDKHIJYHIMY@K
NUDQKDFLDSCDBNMRTLDMSOK@@SRUHMCDMDMDDMGDQYHDMDJNRSDMADFQNSHMF
VNQCDM FDL@@JS (M FDU@K CD BNMRTLDMS C@@QLDD @KRMNF MHDS @JJNNQC
F@@SFDKCSDUDMDDMRGDSHM@QSHJDKAADO@@KCD
QS #D QDO@Q@SHD Y@K YNUDDK LNFDKHIJ SHICDMR GDS DDQRSD ADYNDJ VNQCDM
THSFDUNDQC(MCHDMNLGDSSNDRSDKHMVDQJDMCDRS@@SSDAQDMFDMDDMSVDDCD
ADYNDJMNNCY@JDKHIJHRY@K
@ CHQDBS CNBG THSDQKHIJ AHMMDM ġġM VDQJC@F CNNQ CD ADSQDEEDMCD RDQUHBD
NQF@MHR@SHD NE CNNQ CD SDBGMHBTR LDS CD BNMRTLDMS CD C@STL UNNQ DDM
SVDDCDADYNDJVNQCDM@EFDROQNJDM
A DDM GDQG@KHMFRADYNDJ Y@K @KR QDFDK AHMMDM SHDM VDQJC@FDM M@ CD LDKCHM
OK@@SRUHMCDM
B UNNQDDMSVDDCDNEC@@QNOUNKFDMCADYNDJY@KFDDMUNNQQHIS@QHDEHMQDJDMHMF
VNQCDMFDAQ@BGS SDMYHI CD MNNCY@@J UNNQ DDM GDQG@KHMFRADYNDJ @@M CD
BNMRTLDMSHRSNDSDRBGQHIUDM