3&"-*5"4",56"-13",4*4,63*,6-6.
"OBMJTJTUFSIBEBQ,#,,541EBO,VSJLVMVN
-PF[JBOB6DF
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
,BUB,VODJ4JTUFN1FOEJEJLBO/BTJPOBM,VSJLVMVN4FLPMBI
1&/%")6-6"/
,VSJLVMVN QBEB IBLFLBUOZB BEBMBI TFMVSVI VQBZB VOUVL NFOKBMBOLBO QFNCFMBKBSBOVUBNBOZBEBMBNQFOEJEJLBOEJTFLPMBI 1FOHFNCBOHBOLVSJLVMVN EJMBLVLBO EFOHBO NFOHBDV QBEB GBMTBGBI TVBUV OFHBSB BUBV QBEB UVKVBO TUBOEBS EBSJQFMBLTBOBQFOEJEJLBO
4FCBHBJ CBHJBO ZBOH UJEBL UFSQJTBILBO EBSJ QFOZFMFOHHBSBBO OFHBSB EBMBN CJEBOH QFOEJEJLBO LVSJLVMVN TFLPMBI EJ *OEPOFTJB NFOHBOVU QBEB TUBOEBS TUBOEBS EBSJ QFOZFMFOHHBSBBO QFOEJEJLBO NJTBMOZB 4UBOEBS *TJ TFCBHBJ BMVS EBSJ EBTBSQJKBLBOUVKVBOQFNCFMBKBSBO
,FOZBUBBO QFSVCBIBO LVSJLVMVN ZBOH EJBOHHBQ TFCBHBJ TFTVBUV ZBOH OJTDBZBNFOEBUBOHLBO CFSCBHBJ UBOHHBQBO BOUBSBQSP EBO LPOUSB /BNVO EBMBN QSBLTJTOZB QSPCMFNBUJLB JUV NFOKBEJ TFTVBUV ZBOH QFSMV EJBOBMJTJT EFNJ QFOHFNCBOHBOQFOEJEJLBOTVBUVCBOHTB
1FNBLOBBO SFBMJUBT BLUVBM QSBLTJT LVSJLVMVN CFSLBJUBO FSBU EFOHBO BQB ZBOH UFMBI EJMBLVLBO 4FCFMVN NFOKBMBS KBVI QFOKFMBTBO NFOZBOHLVU QSBLTJT LVSJLVMVN JOJ BEB CBJLOZB QFOVMJT NFNCFSJLBO QFOKFMBTBO JTUJMBI NFOZBOHLVU EFOHBO SFBMJUBT BLUVBM EBO QSBLTJT JOJ 3FBMJUBT JUV BEBMBI UBL MBJO EBSJQBEB
FSTDIMPTFOIFJUBUBVLFUFSCVLBBOTVBUVIBNQBSBOLFNVOHLJOBOZBOHUBLUFSLBUBLBO
OBNVO NFOVOHHV QFNBLOBBO
3FBMJUBT KVHB EJBTVNTJLBO EBSJ HFKBMB ZBOH CFSMBXBOBOEBSJTFIBSVTOZBA:BOHMBJOEBOAZBOHUJEBLMBJOLFEVBOZBCFSQBTBOHBO EBMBNSFBMJUBTCFSQBTBOHBOBUBVCFSMBXBOBO
"LUVBMCFSBSUJCFUVMCFUVMBEB UFSKBEJTFTVOHHVIOZBCBSVIBOHBUTFEBOH NFOBSJL QFSIBUJBO PSBOH TFEBOH NFOKBEJ QFNCJDBSBBO PSBOH CBOZBL UFOUBOH QFSJTUJXB EBO TFCBHBJOZB CBSV TBKB UFSKBEJ NBTJI CBSV UFOUBOH QFSJTUJXB EBO TFCBHBJOZB
"LUVBMBQBZBOHTFEBOHUFSKBEJEBMBNEVOJBOZBUB
1SBLTJT CVLBOMBI QSBLUFL 1SBLTJT EBMBN #BIBTB :VOBOJ CFSBSUJ TFCVBI QFMBLTBOBBO ZBOH EJLFSKBLBO TFCBHBJ IBTJM QFSFOVOHBO 1SBLTJT BEBMBI QFLFSKBBO ZBOH UVKVBOOZB TVEBI EJQFSUJNCBOHLBO CBHJ TFNVB QJIBL +BEJ QSBLTJT BEBMBI QFLFSKBBO ZBOH EJJMIBNJ PMFI QFSFOVOHBO
,FUJLB LJUB CFSCJDBSB UFOUBOH QSBLTJT
'#VEJ)BSEJNBO'JMTBGBU'SBHNFOUBSJT+PHKBLBSUB,BOJTJVTIBM
4VMJTUJZPXBUJ EBO "OUPOJPT $BIZVBEJ3VOUVIOZB 4FLBU 1FSEBUB EBO 1FSEBOB +BLBSUB :BZBTBO0CPS*OEPOFTJBIBM
""8BTLJUP,BNVT1SBLUJT#BIBTB*OEPOFTJB+BLBSUB8BIZV.FEJPIBM "OEBS*TNBJM4FMBNBU#FSLBSZB3FOVOHBOUFOUBOH,FSKB+BLBSUB(VOVOH,FSKB IBM
LVSJLVMVNNBLBBLBOCFSBSUJBQBZBOHUFMBIEJMBLVLBOVOUVLNFNCFOUVLLPOTFQ LPOTQCBSVEBMBNQFMBLTBOBBOLVSJLVMVNEJTFLPMBINBESBTBI
1&.#")"4"/
,FCJKBLBO1FOHFNCBOHBO,VSJLVMVN
1BEB TBBU LJOJ QSPTFT QFOHFNCBOHBO LVSJLVMVN EJ *OEPOFTJB NFOHJLVUJ LFCJKBLBOZBOHEJVOEBOHLBOEBMBN66OPNPSUBIVO11OPNPSUBIVO EBO 1FSNFOEJLOBT OPNPS EBO #FSEBTBSLBO LFUFUBQBO UFSTFCVU NBLBQSPTFTQFOHFNCBOHBOLVSJLVMVNEJ*OEPOFTJBNFOHJLVUJEVBMBOHLBICFTBS ZBJUV QSPTFT QFOHFNCBOHBO LVSJLVMVN ZBOH EJMBLVLBO EJ 1FNFSJOUBI 1VTBU EBO QFOHFNCBOHBO ZBOH EJMBLVLBO EJ TFUJBQ TBUVBO QFOEJEJLBO
4FCFMVNOZB UFMBI EJCFSMBLVLBO CFCFSBQB NBTB LVSJLVMVN TFQFSUJ LVSJLVMVN EBO ,VSJLVMVN ,VSJLVMVNEJTFCVUTFCBHBJJNQMFNFOUBTJEBSJIBTSBU6OEBOH6OEBOH 4JTUFN1FOEJEJLBO/BTJPOBM 4JTEJLOBT5BIVO
4FKBL UBIVO IJOHHB UBIVO UFMBI UFSKBEJ QFSVCBIBO LVSJLVMVN TFCBOZBLLBMJZBJUVUBIVO 3FODBOB1FMBKBSBOZBOHEJSJODJEBMBN SFODBOB 1FMBKBSBOUFSVSBJ5BIVO 3FODBOB1FOEJEJLBO4FLPMBI%BTBS5BIVO ,VSJLVMVN 4FLPMBI %BTBS 5BIVO ,VSJLVMVN 1SPZFL 1FSJOUJT 4FLPMBI 1FOHFNCBOHBO 1141 5BIVO ,VSJLVMVN 4FLPMBI %BTBS 5BIVO ,VSJLVMVN5BIVO 3FWJTJ,VSJLVMVN5BIVO ,VSJLVMVN #FSCBTJT ,PNQFUFOTJ ,#, EBO 5BIVO ,VSJLVMVN 5JOHLBU 4BUVBO 1FOEJEJLBO ,541
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
5JN 1FOHFNCBOH 1FOEJEJLBO 61**MNV EBO "QMJLBTJ 1FOEJEJLBO#BOEVOH (SBTJOEP IBM
4BEVSBO EBSJ 4MJEF 6KJ 1VCMJL ,VSJLVMVN #BDB KVHB 8JOBOSOP 4VSBLINBE
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
%BTBSZVSJEJTQFSVCBIBO,VSJLVMVNNFOKBEJ,VSJLVMVNBOUBSB MBJO &WBMVBTJ ,VSJLVMVN 66% (#)/ 66 /P UBIVO 11 /P 5BIVO EBO 66 4JTUFN 1FOEJEJLBO /BTJPOBM /P 5BIVO
.FOZBEBSJ CBIXB QFOHFNCBOHBO LVSJLVMVN NFSVQBLBO QSPTFT ZBOH EJOBNJT NBLB QFOZVTVOBO EBO QFMBLTBOBBO ,#, EJEBTBSLBO QBEB TFNCJMBO QSJOTJQ ZBJUV ,FJNBOBO #VEJ 1FLFSUJ -VIVS EBO /JMBJOJMBJ #VEBZB 1FOHVBUBO *OUFHSJUBT /BTJPOBM ,FTFJNCBOHBO &UJLB -PHJLB &TUFUJLB EBO ,JOFTUFUJLB ,FTBNBBO .FNQFSPMFI ,FTFNQBUBO 1FSLFNCBOHBO 1FOHFUBIVBO EBO 5FLOPMPHJ *OGPSNBTJ 1FOHFNCBOHBO ,FDBLBQBO )JEVQ #FMBKBS4FQBOKBOH)BZBU#FSQVTBUQBEB"OBLEBO1FOEFLBUBO.FOZFMVSVI EBO,FNJUSBBO
,BSBLUFSJTUJL ,#, EJBOHHBQ DFOEFSVOH TFOUSBMJTNF ,VSJLVMVN EJTVTVO PMFI5JN1VTBUTFDBSBSJODJ%BFSBI4FLPMBIIBOZBNFMBLTBOBLBOOZBTBKB%JMJIBU EBSJ TUSVLUVS LVSJLVMVN EBQBU EJKFMBTLBO %BMBN ,VSJLVMVN ,#, CFSVCBIBO SFMBUJGCBOZBLEJCBOEJOHLBOLVSJLVMVNTFCFMVNOZB TVQMFNFO"EB QFSVCBIBO OBNB NBUB QFMBKBSBO EBO "EB QFOBNCBIBO NBUB QFMBKBSBO 5*, BUBVQFOHHBCVOHBONBUBQFMBKBSBO ,/EBO14EJ4%
,541EBO1FOBNBBOOZB
,VSJLVMVN 5JOHLBU 4BUVBO 1FOEJEJLBO ,541 BEBMBI TFCVBI LVSJLVMVN PQFSBTJPOBM QFOEJEJLBO ZBOH EJTVTVO PMFI EBO EJMBLTBOBLBO EJ NBTJOHNBTJOH
.PIBNNBE "MJ1FOEJEJLBO VOUVL 1FNCBOHVOBO /BTJPOBM +BLBSUB (SBTJOEP IBM
TBUVBO QFOEJEJLBO EJ *OEPOFTJB ,541 TFDBSB ZVSJEJT EJBNBOBULBO PMFI 6OEBOH 6OEBOH /PNPS 5BIVO UFOUBOH 4JTUFN 1FOEJEJLBO /BTJPOBM EBO 1FSBUVSBO1FNFSJOUBI3FQVCMJL*OEPOFTJB/PNPS5BIVOUFOUBOH4UBOEBS /BTJPOBM 1FOEJEJLBO 1FOZVTVOBO ,541 PMFI TFLPMBI EJNVMBJ UBIVO BKBSBO EFOHBO NFOHBDV QBEB 4UBOEBS *TJ 4* EBO 4UBOEBS ,PNQFUFOTJ -VMVTBO 4,- VOUVL QFOEJEJLBO EBTBS EBO NFOFOHBI TFCBHBJNBOB ZBOH EJUFSCJULBONFMBMVJ1FSBUVSBO.FOUFSJ1FOEJEJLBO/BTJPOBMNBTJOHNBTJOH/PNPS 5BIVOEBO/PNPS5BIVOTFSUB1BOEVBO1FOHFNCBOHBO,541 ZBOHEJLFMVBSLBOPMFI#BEBO4UBOEBS/BTJPOBM1FOEJEJLBO #4/1
1BEB QSJOTJQOZB ,541 NFSVQBLBO CBHJBO ZBOH UJEBL UFSQJTBILBO EBSJ 4* OBNVO QFOHFNCBOHBOOZB EJTFSBILBO LFQBEB TFLPMBI BHBS TFTVBJ EFOHBO LFCVUVIBOTFLPMBIJUVTFOEJSJ,541UFSEJSJEBSJUVKVBOQFOEJEJLBOUJOHLBUTBUVBO QFOEJEJLBO TUSVLUVS EBO NVBUBO LVSJLVMVN UJOHLBU TBUVBO QFOEJEJLBO LBMFOEFS QFOEJEJLBOEBOTJMBCVT1FMBLTBOBBO ,541NFOHBDV QBEB1FSNFOEJLOBT /PNPS
5BIVOUFOUBOH1FMBLTBOBBO4*EBO4,-4UBOEBS JTJ BEBMBI SVBOH MJOHLVQ NBUFSJ EBO UJOHLBU LPNQFUFOTJ ZBOH EJUVBOHLBO EBMBN QFSTZBSBUBO LPNQFUFOTJ UBNBUBO LPNQFUFOTJ CBIBO LBKJBO LPNQFUFOTJNBUBQFMBKBSBOEBOTJMBCVTQFNCFMBKBSBOZBOHIBSVTEJQFOVIJQFTFSUB EJEJLQBEBKFOKBOHEBOKFOJTQFOEJEJLBOUFSUFOUV4UBOEBSJTJNFSVQBLBOQFEPNBO VOUVL QFOHFNCBOHBO LVSJLVMVN UJOHLBU TBUVBO QFOEJEJLBO ZBOH NFNVBU ,FSBOHLB EBTBS EBO TUSVLUVS LVSJLVMVN #FCBO CFMBKBS LVSJLVMVN UJOHLBU TBUVBO QFOEJEJLBO ZBOH EJLFNCBOHLBO EJ UJOHLBU TBUVBO QFOEJEJLBO EBO LBMFOEFSQFOEJEJLBO
4,- EJHVOBLBO TFCBHBJ QFEPNBO QFOJMBJBO EBMBN QFOFOUVBO LFMVMVTBO QFTFSUBEJEJLEBSJTBUVBOQFOEJEJLBO4,-NFMJQVUJLPNQFUFOTJVOUVLTFMVSVINBUB QFMBKBSBO BUBV LFMPNQPL NBUB QFMBKBSBO ,PNQFUFOTJ MVMVTBO NFSVQBLBO LVBMJGJLBTJ LFNBNQVBO MVMVTBO ZBOH NFODBLVQ TJLBQ QFOHFUBIVBO EBO LFUFSBNQJMBOTFTVBJEFOHBOTUBOEBSOBTJPOBMZBOHUFMBIEJTFQBLBUJ
1FNCFSMBLVBO ,541 TFCBHBJNBOB ZBOH EJUFUBQLBO EBMBN QFSBUVSBO .FOUFSJ 1FOEJEJLBO /BTJPOBM /P 5BIVO UFOUBOH 1FMBLTBOBBO 4* EBO 4,- EJUFUBQLBO PMFI LFQBMB TFLPMBI TFUFMBI NFNQFSIBUJLBO QFSUJNCBOHBO EBSJ
)."INBE1FOHFNCBOHBO,VSJLVMVN#BOEVOH1VTUBLB4FUJBIBM
1FSBUVSBO .FOUFSJ 1FOEJEJLBO /BTJPOBM /P 5BIVO UFOUBOH 4UBOEBS *TJ VOUVL 4BUVBO1FOEJEJLBO%BTBSEBO.FOFOHBI
LPNJUF TFLPMBI %FOHBO LBUB MBJO QFNCFSMBLVBO ,541 TFQFOVIOZB EJTFSBILBO LFQBEB TFLPMBI EBMBN BSUJ UJEBL BEB JOUFSWFOTJ EBSJ %JOBT 1FOEJEJLBO BUBV %FQBSUFNFO1FOEJEJLBO/BTJPOBM1FOZVTVOBO,541TFMBJONFMJCBULBOHVSV EBO LBSZBXBOKVHBNFMJCBULBOLPNJUFTFLPMBITFSUBCJMBQFSMVQBSBBIMJEBSJQFSHVSVBO UJOHHJ TFUFNQBU %FOHBO LFUFSMJCBUBO LPNJUF TFLPMBI EBMBN QFOZVTVOBO ,541 NBLB ,541 ZBOH EJTVTVO BLBO TFTVBJ EFOHBO BTQJSBTJ NBTZBSBLBU TJUVBTJ EBO LPOEJTJMJOHLVOHBOEBOLFCVUVIBONBTZBSBLBU
,541EJLFNCBOHLBOCFSEBTBSLBOQSJOTJQQSJOTJQCFSJLVU#FSQVTBUQBEB QPUFOTJ QFSLFNCBOHBO LFCVUVIBO EBO LFQFOUJOHBO QFTFSUB EJEJL EBO MJOHLVOHBOOZB#FSBHBNEBOUFSQBEVUBOHHBQUFSIBEBQQFSLFNCBOHBOJMNV QFOHFUBIVBO UFLOPMPHJ EBO TFOJ 3FMFWBO EFOHBO LFCVUVIBO LFIJEVQBO NFOZFMVSVIEBOCFSLFTJOBNCVOHBO#FMBKBSTFQBOKBOHIBZBUEBO4FJNCBOH BOUBSBLFQFOUJOHBOOBTJPOBMEBOLFQFOUJOHBOEBFSBI
4FMBJOJUV,541EJTVTVOEFOHBONFNQFSIBUJLBOBDVBOPQFSBTJPOBMTFCBHBJ CFSJLVU1FOJOHLBUBOJNBOEBOUBLXBTFSUBBLIMBLNVMJB1FOJOHLBUBOQPUFOTJ LFDFSEBTBO EBO NJOBU TFTVBJ EFOHBO UJOHLBU QFSLFNCBOHBO EBO LFNBNQVBO QFTFSUB EJEJL ,FSBHBNBO QPUFOTJ EBO LBSBLUFSJTUJL EBFSBI EBO *MOHLVOHBO 5VOUVUBO QFNCBOHVOBO EBFSBI EBO OBTJPOBM 5VOUVUBO EVOJB LFSKB 1FSLFNCBOHBO JMNV QFOHFUBIVBO UFLOPMPHJ EBO TFOJ "HBNB %JOBNJLB QFSLFNCBOHBO HMPCBM 1FSTBUVBO OBTJPOBM EBO OJMBJOJMBJ LFCBOHTBBO ,POEJTJTPTJBMCVEBZBNBTZBSBLBUTFUFNQBUEBO,FTFUBSBBO(FOEFS
,VSJLVMVN 5JOHLBU 4BUVBO 1FOEJEJLBO ,541 NFSVQBLBO LVSJLVMVN QFOEJEJLBOZBOH EJCFSMBLVLBO VOUVL TFUJBQTBUVBO QFOEJEJLBO LIVTVTOZB TBUVBO QFOEJEJLBOEBTBSEBONFOFOHBI,541NFMJQVUJUJHBLPNQPOFOEBMBNQFMBZBOBO QFNCFMBKBSBO ZBJUV LPNQPOFO NBUB QFMBKBSBO NVBUBO MPLBM EBO QFOHFNCBOHBO EJSJ,PNQPOFOQFOHFNCBOHBOEJSJUFSEJSJEBSJEVBTVCLPNQPOFOZBJUVQFMBZBOBO LPOTFMJOHEBOLFHJBUBOFLTUSBLVSJLVMFS
,FTJBQBO,VSJLVMVN5JOHLBU4BUVBO1FOEJEJLBO ,541EJTFLPMBIEJUBOEBJ EFOHBOUFSTFMFTBJLBOEPLVNFOLVSJLVMVN%PLVNFOLVSJLVMVNNFNVBUNJOJNBM SBTJPOBMJUBT TUSVLUVS LVSJLVMVN NVBUBO MPLBM QFOHFNCBOHBO EJSJ LFUVOUBTBO CFMBKBS EBO LBMFOEFS QFOEJEJLBO TFSUB EJMBNQJSJ EFOHBO TJMBCVT EBO 3FODBOB
1FSBUVSBO .FOUFSJ 1FOEJEJLBO /BTJPOBM /P 5BIVO UFOUBOH 4UBOEBS *TJ VOUVL 4BUVBO1FOEJEJLBO%BTBSEBO.FOFOHBI
1FMBLTBOBBO 1FNCFMBKBSBO 311 %PLVNFO JOJ NFOKBEJ QFOUJOH UBULBMB QFOKBNJOBO NVUV QFOEJEJLBO NFMBMVJ BLSFEJUBTJ TFLPMBI TFCBHBJ CBHJBO EBSJ LPNQPOFO ZBOH NFOKBEJ QFOJMBJBO EBO KVHB VOUVL LFCVUVIBO &WBMVBTJ %JSJ 4FLPMBI &%4
3FODBOB*NQMFNFOUBTJ,VSJLVMVN
%JOBNJLB CFSBSUJ QFSHFSBLBO BUBV ZBOH CFSIVCVOHBO FSBU EFOHBO CFOEB ZBOH CFSHFSBL CBJL LPOLSFU NBVQVO BCTUSBL
4FNFOUBSB EJOBNJLB LVSJLVMVN TVBUV QFSHFSBLBO QFSVCBIBO LVSJLVMVN PMFI TVBUV UVOUVUBO %BMBN EJOBNJLB LVSJLVMVN TFUJEBLOZB BEB EVB UVOUVUBO VOUVL NFODBQBJ 4%. ZBOH LPNQFUFO 1FSUBNB QFSLFNCBOHBO EVOJB HMPCBM ZBOH NFMJQVUJ QFSPTBMBO BLBEFNJL JOEVTUSJ EBO TPTJBM CVEBZB %BO LFEVB QFSVCBIBO LFCVUVIBO ZBOH UFSTBOHLVU EFOHBOOZB QFSTPBMBO QFOHFUBIVBO LFUFSBNQJMBO EBO TJLBQ 4FNVB LPNQPOFO JUV EJDBQBJ NFMBMVJQFOHFNCBOHBOLVSJLVMVNEFOHBOMBOEBTBOQFEBHPHJEBOQTJLPMPHJVOUVL NFMBIJSLBO4VNCFS%BZB.BOVTJB 4%.ZBOHCFSLPNQFUFOTJ
4FCBHBJ BEWPLBTJ LFOBQB LVSJLVMVN CFSVCBI EJBMBNBULBO QBEB LFIBSVTBO NFNFOVIJ UBOUBOHBO EBO QFSLFNCBOHBO JMNV QFOHFUBIVBO EBO LFNBKVBO UFLOPMPHJ 5FLBOBO QFSVCBIBO LVSJLMVN JUV EJTFCBCLBO PMFI %VOJB CFSVCBI EFOHBO DFQBU 5VOUVUBO NBTZBSBLBU CFSVCBI 1FSLFNCBOHBO JMNV QFOHFUBIVBOEBOUFLOPMPHJTFSUBTFOJ1BSUJTJQBTJEBMBNFSBHMPCBM1FSTBJOHBO LFNBNQVBO 4VNCFS %BZB .BOVTJB TFSUB 1FOJOHLBUBO LVBMJUBT ZBOH CFSLFMBOKVUBO
%BMBN SFODBOB QFOHFNCBOHBO LVSJLVMVN BEB MJNB BHFOEB ZBOH NBOKBEJ UJUJL QJLJS 3BTJPOBM 1FOHFNCBOHBO ,VSJLVMVN 1FOHFNCBOHBO ,VSJLVMVN 6KJ1VCMJL "MUFSOBUJG 4USVLUVS,VSJLVMVN EBO 3FODBOB *NQMFNFOUBTJ,VSJLVMVN
4FCBHBJ 3BTJPOBM QFOHFNCBOHBO LVSJLVMVN EJLBJULBO EFOHBO1FSUBNB UBOUBOHBO JOUFSOBM EBO UBOUBOHBO FLTUFSOBM 4FCBHBJ UBOUBOHBO JOUFSOBM EJLBJULBO EFOHBO B QFOHFNCBOHBO QFOEJEJLBO NFOHBDV QBEB 4UBOEBS /BTJPOBM 1FOEJEJLBO ZBJUV 4UBOEBS *TJ 4UBOEBS 1SPTFT 4UBOEBS LPNQFUFOTJ -VMVTBO 4UBOEBS 1FOHFMPMBBO 4UBOEBS &WBMVBTJ 4UBOEBS 4BSBOB EBO 1SBTBSBOB 4UBOEBS 1FNCJBZBBOC#POVTEFNPHSBGJZBOHNFMJNQBI
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
,FEVB QFOZFNQVSOBBO QPMB QJLJS 5FSLBJU EFOHBO QFOZFNQVSOBBO QPMB
QJLJS EJCBIBT UFOUBOH %JOBNJLB LVSJLVMVN ,POTFQ QFOHFNCBOHBO LVSJLVMVN CFSCBTJT LPNQFUFOTJ 1FOEFLBUBO EBMBN QFOZVTVOBO 4,- EBO 1FOZFNQVSOBBOQPMBQJLJSQFSVNVTBOLVSJLVMVN
,FUJHB1FOHVBUBOUBUBLFMPMBLVSJLVMVNZBOHNFODBLVQ1FSLFNCBOHBO
LVSJLVMVN EJ *OEPOFTJB ,FUFOUVBO QFOHFNCBOHBO LVSJLVMVN QBEB 6OEBOH 6OEBOH 4JTUFN 1FOEJEJLBO /BTJPOBM 1FSCBOEJOHBO UBUB LFMPMB LVSJLVMVN BOUBSB ,#, ,541 EBO ,VSJLVMVN 3FGMFLTJ )BTJM 1*4"
EBO "OBMJTJT)BTJM5*.44EBO1*3-4
1*4"TJOHLBUBO EBSJ 1SPHSBN1FOJMBJBO1FMBKBS *OUFSOBTJPOBM #BIBTB*OHHSJT1SPHSBN
GPS *OUFSOBUJPOBM 4UVEFOU "TTFTTNFOU EJTJOHLBU 1*4" BEBMBI QFOJMBJBO UJOHLBU EVOJB ZBOH EJTFMFOHHBSBLBOUJHBUBIVOBO VOUVL NFOHVKJQFSGPSNB BLBEFNJT BOBLBOBL TFLPMBI ZBOHCFSVTJB UBIVO EBO QFOZFMFOHHBSBBOOZB EJMBLTBOBLBO PMFI 0SHBOJTBTJ VOUVL ,FSKBTBNB EBO 1FOHFNCBOHBO &LPOPNJ 0&$% 5VKVBO EBSJ TUVEJ 1*4" BEBMBI VOUVL NFOHVKJ EBO NFNCBOEJOHLBO QSFTUBTJ BOBLBOBL TFLPMBI EJ TFMVSVI EVOJB EFOHBO NBLTVE VOUVL NFOJOHLBULBONFUPEFNFUPEFQFOEJEJLBOEBOIBTJMIBTJMOZB
-BOHLBI1FOHVBUBO.BUFSJTFCBHBJFWBMVBTJVMBOHSVBOHMJOHLVQNBUFSJ .FOJBEBLBO NBUFSJ ZBOH UJEBL FTFOTJBM BUBV UJEBL SFMFWBO CBHJ TJTXB .FNQFSUBIBOLBO NBUFSJ ZBOH TFTVBJ EFOHBO LFCVUVIBO TJTXB .FOBNCBILBO NBUFSJZBOHEJBOHHBQQFOUJOHEBMBNQFSCBOEJOHBOJOUFSOBTJPOBM&WBMVBTJVMBOH LFEBMBNBO NBUFSJ TFTVBJ EFOHBO UVOUVUBO QFSCBOEJOHBO JOUFSOBTJPOBM <TE
SFBTPOJOH> EBO NFOZVTVO LPNQFUFOTJ EBTBS ZBOH TFTVBJ EFOHBO NBUFSJ ZBOH
EJCVUVILBO
1FOHVBUBOQSPTFTQFNCFMBKBSBONFMJQVUJ,FSBOHLB,PNQFUFOTJBCBE 1SPTFT 1FNCFMBKBSBO ZBOH NFOEVLVOH LSFBUJGJUBT EBO -BOHLBI QFOHVBUBO QSPTFT 4FNFOUBSB 1FOZFTVBJBO CFCBO KBOHBO EJBOHHBQ TJTXB TVEBI CJTB NFNCBDB%JUFNVLBOTFBLBOBLBOBOBLTVEBIEBQBUNFNCBDBEJLFMBT*4FLPMBI %BTBS 4% +VHB EJUFNVLBO UJOHLBU LFTVMJUBO CFMBKBS TFQFSUJ VOTVSVOTVS QFOHFUBIVBO QPMJUJL QBEB QFNCFMBKBSBO UJOHLBU 4FLPMBI %BTBS BUBV 4FLPMBI .FOFOHBI1FSUBNB 4.1
-BOHLBI 1FOZFTVBJBO #FCBO (VSV EBO .VSJE 4% EJLBJULBO EFOHBO CFCFSBQB QFOZFMFTBJBO TFQFSUJ %JTFEJBLBO CVLV QFHBOHBO HVSV 1FOEFLBUBO UFNBUJL UFSQBEV NFOHHVOBLBO TBUV CVLV VOUVL TFNVB NBUB QFMBKBSBO TFIJOHHB EBQBU TFMBSBT EFOHBO LFNBNQVBO #BIBTB *OEPOFTJB TFCBHBJ BMBU LPNVOJLBTJ EBO QFNCBXBJMNVQFOHFUBIVBOQFOZFEJBOCVLVUFLTPMFIQFNFSJOUBIEBFSBI
1FOHFNCBOHBO ,VSJLVMVN EJLBJULBO EFOHBO LFTJOBNCVOHBO ,#, ,541EBO,VSJLVMVN1SPTFEVS1FOZVTVOBO,PNQFUFOTJ%BTBS ,VSJLVMVN ZBOH NFOHLBJULBO EFOHBO ZBOH EJUVSVOLBO EBSJ 4UBOEBS ,PNQFUFOTJ -VMVTBO #BSV 4,,% -BNB NBUB QFMBKBSBO QFS LFMBT ,541
)BNQJS TFNVB TJTXB *OEPOFTJB IBOZB NFOHVBTBJ QFMBKBSBO TBNQBJ MFWFM TBKB TFNFOUBSB OFHBSB MBJO CBOZBL ZBOHTBNQBJ MFWFM CBILBO %FOHBO LFZBLJOBOCBIXBTFNVB NBOVTJB EJDJQUBLBO TBNB JOUFSQSFUBTJ EBSJ IBTJM JOJ IBOZB TBUV ZBJUV ZBOH LJUB BKBSLBO CFSCFEB EFOHBOUVOUVUBO[BNBO6OUVLJUVQFSMVQFOZFTVBJBOLVSJLVMVN
5*.44 BEBMBI TJOHLBUBO EBSJ5SFOET JO *OUFSOBUJPOBM .BUIFNBUJDT BOE 4DJFODF 4UVEZ 4FNFOUBSB1*3-4TJOHLBUBOEBSJ1SPHSFTTJO*OUFSOBUJPOBM3FBEJOH-JUFSBDZ4UVEZ)BTJM.BUFNBUJLB
-FCJI EBSJ TJTXB *OEPOFTJB IBOZB NBNQV TBNQBJ MFWFM NFOFOHBI TFNFOUBSB IBNQJS TJTXB 5BJXBO NBNQV NFODBQBJ MFWFM UJOHHJ EBO BEWBODF %FOHBO LFZBLJOBO CBIXB TFNVB BOBL EJMBIJSLBO TBNBLFTJNQVMBOEBSJIBTJMJOJBEBMBIZBOHEJBKBSLBOEJ*OEPOFTJBCFSCFEBEFOHBOZBOHEJVKJLBO<ZBOH EJTUBOEBSLBO> JOUFSOBTJPOBM )BTJM 4BJOT-FCJI EBSJ TJTXB *OEPOFTJB IBOZB NBNQV TBNQBJ MFWFM NFOFOHBI TFNFOUBSB IBNQJS TJTXB 5BJXBO NBNQV NFODBQBJ MFWFM UJOHHJ EBO BEWBODF %FOHBO LFZBLJOBO CBIXB TFNVB BOBL EJMBIJSLBO TBNB LFTJNQVMBO EBSJ IBTJM JOJ BEBMBI ZBOH EJBKBSLBO EJ *OEPOFTJB CFSCFEB EFOHBO ZBOH EJVKJLBO <ZBOH EJTUBOEBSLBO> JOUFSOBTJPOBM .PEFM TPBM 5.44 EBO 1*3-4 NFOKBEJ FNQBU LBUBHPSJ -PX NFOHVLVS LFNBNQVBO TBNQBJ MFWFM LOPXJOH *OUFSNFEJBUF NFOHVLVS LFNBNQVBO TBNQBJ MFWFM BQQMZJOH )JHI NFOHVLVS LFNBNQVBO TBNQBJ MFWFM SFBTPOJOH EBO "EWBODF NFOHVLVS LFNBNQVBO TBNQBJ MFWFM SFBTPOJOH XJUI JODPNQMFUFJOGPSNBUJPO
EJFWBMVTJ EFOHBO NFNQFSUBIBOLBO 4,,% MBNB ZBOH TFTVBJ EFOHBO 4,- #BSV .FSFWJTJ4,,%MBNBEJTFTVBJLBOEFOHBO4,-CBSVEBONFOZVTVO4,,%#BSV
1SPTFEVS 1FOZVTVOBO ,PNQFUFOTJ %BTBS ,VSJLVMVN EJNVMBJ EBSJ FWBMVBTJ UFSIBEBQ 4VNCFS ,PNQFUFOTJ -VMVTBO ZBOH CBSV TFSUB 4UBOEBS ,PNQFUFOTJ EBO ,PNQFUFOTJ %BTBS ZBOH MBNB QFS LFMBT ,541 %BSJ FWBMVBTJ UFSTFCVU NFMBIJSLBO TVNCFS LPNQFUFOTJ .BQFM QFS LFMBT VOUVL LFNVEJBONFMBIJSLBO,PNQFUFOTJ*OUJEBO,PNQFUFOTJ%BTBS#BSV
5FNB LVSJLVMVN BEBMBI LVSJLVMVN ZBOH EBQBU NFOHIBTJMLBO JOTBO JOEPOFTJB ZBOH QSPEVLUJG LSFBUJG JOPWBUJG BGFLUJG NFMBMVJ QFOHVBUBO TJLBQ LFUFSBNQJMBO EBO QFOHFUBIVBO ZBOH UFSJOUFHSBTJ 1FSCFEBBO FTFOTJBM LVSJLVMVN 4% BOUBSB MBJO CBIXB UJBQ NBUB QFMBKBSBO EJBKBSLBO EFOHBO QFOEFLBUBO CFSCFEB 4FNVBNBUBQFMBKBSBOEJBKBSLBOEFOHBOQFOEFLBUBOZBOHTBNB TBJOUJGJLNFMBMVJ NFOHBNBUJNFOBOZBNFODPCBEBONFOBMBS
1SFEJLTJ LVODJ LFCFSIBTJMBO JNQMFNFOUBTJ ,VSJLVMVN BEBMBI ,FUFSTFEJBBO#VLV1FHBOHBO1FNCFMBKBSBO TJTXBEBOHVSV,FUFSTFEJBBO#VLV 1FEPNBO 1FOJMBJBO ,FTJBQBO (VSV QFOZFTVBJBO LPNQFUFOTJ HVSV %VLVOHBO .BOBKFNFO ,FQBMB 4FLPMBI 1FOHBXBT 4FLPMBI EBO "ENJOJTUSBTJ TFLPMBI LIVTVTOZBVOUVL4."EBO4.,%VLVOHBO*LMJN#VEBZB"LBEFNJL ,FUFSMJCBUBOEBO LFTJBQBOTFNVB QFNBOHLV LFQFOUJOHBO TJTXBHVSV PSBOH UVB LFQBMBTFLPMBIQFOHBXBTTFLPMBI
4FLJUBS,SJUJLEBO6KJ1VCMJL1FSVCBIBO,VSJLVMVN
4FCFMVNSFODBOBQFOFSBQBO,VSJLVMVN,FNFOUFSJBO1FOEJEJLBOEBO ,FCVEBZBBO NFMBLTBOBLBO VKJ QVCMJL TFKBL /PWFNCFS EFOHBO QFTFSUB ,FQBMB %JOBT 1FOEJEJLBO 1SPWJOTJ,BC,PUB ,PQFSUJT %FXBO 1FOEJEJLBO "OHHPUB%13%,FQBMB4FLPMBI(VSV1FOHBXBT1FNFSIBUJ1FOEJEJLBO-4.EBO 8BSUBXBO%BMBNUBOZBKBXBCQBEBLFHJBUBOVKJQVCMJLCFSCBHBJJTVEJNVODVMLBO PMFI QFOBOHHBQ TFQFSUJ #BIBTB %BFSBI 5FLOPMPHJ *OGPSNBTJ EBO ,PNVOJLBTJ 5*,#JNCJOHBOEBO,POTFMJOH #,#BIBTB*OHHSJT1FOEJEJLBO"HBNB<USB ,VSJLVMFS <LVM+BN1FMBKBSBO6/EBO1SBLBSZB
"EBLFLIBXBUJSBOUFSIBEBQLFNBNQVBOHVSVEBMBNNFOKBMBOLBOUFNBUJL OBNVOEJBLVJCBIXB CFHJUVQFOUJOHOZB UFNBUJLUFSQBEV#FCFSBQB IBMZBOH MBZBL VOUVL EJDFSNBUJ )BTJM QFOFMJUJBO NFOVOKVLLBO CBIXB BOBL NFMJIBU EVOJB TFCBHBJTVBUVLFVUVIBOZBOHUFSIVCVOHCVLBOOZBQFOHHBMBOQFOHHBMBOMFQBTEBO
UFSQJTBI .BQFMNBQFM TFLPMBI EBTBS EFOHBO EFGJOJTJ LPNQFUFOTJ ZBOH CFSCFEB NFOHIBTJMLBO CBOZBL LFMVBSBO ZBOH TBNB ,FUFSLBJUBO TBUV TBNB MBJO BOUBS NBQFMNBQFMTFLPMBIEBTBSNFOZFCBCLBOLFUFSQBEVBOLPOUFOQBEBCFSCBHBJNBQFM EBO BSBIBO CBHJ TJTXB VOUVL NFOHBJULBO BOUBS NBQFM BLBO NFOJOHLBULBO IBTJM QFNCFMBKBSBO TJTXB 'MFLTJCJMJUBT QFNBOGBBUBO XBLUV EBO NFOZFTVBJLBOOZB EFOHBO LFCVUVIBO TJTXB .FOZBUVLBO QFNCFMBKBSBO TJTXB VOUVL LPOWFSHFOTJ QFNBIBNBO ZBOH EJQFSPMFIOZB TBNCJM NFODFHBI UFSKBEJOZB JOLPOTJTUFOTJ BOUBS NBUB QFMBKBSBO .FSFGMFLTJLBO EVOJB OZBUB ZBOH EJIBEBQJ BOBL EJ SVNBI EBO MJOHLVOHBOOZB EBO 4FMBSBT EFOHBO DBSB BOBL CFSGJLJS EJNBOB IBTJM QFOFMJUJBO PUBL NFOEVLVOH UFPSJ QFEBHPHJ EBO QTJLPMPHJ CBIXB BOBL NFOFSJNB CBOZBL IBM EBO NFOHPMBI EBO NFSBOHLVNOZB NFOKBEJ TBUV 4FIJOHHB NFOHBKBSLBO TFDBSB IPMJTUJLUFSQBEVBEBMBITFKBMBOEFOHBOCBHBJNBOBPUBLBOBLNFOHPMBIJOGPSNBTJ
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
"OBMJTJT1SBLTJT,VSJLVMVN
%BMBN QSBLTJT LVSJLVMVN BEB ZBOH NFTUJ CFSVCBI NFOZFTVBJLBO EFOHBO QFSLFNCBOHBO [BNBO EBO IBSVT CFSBOJ CFSVCBI VOUVL LFNBKVBO TVBUV CBOHTB 1MVT NJOVT UBOHHBQBO BLJCBU QFSVCBIBO LVSJLVMVN MFCJI EJBLJCBULBO PMFI FGFL ZBOH NFOZFMJNVUJOZB NJTBMOZB LVBOUJUBT BOHHBSBO ZBOH NFOHJLVUJOZB UFSLBJU EFOHBO QFOHBEBBO CVLV QFMBUJIBO TFSUB TPTJBMJTBTJTPTJBMJTBTJ CBJL UJOHLBU QVTBU NBVQVO UJOHLBU OBTJPOBM 1FSVCBIBO TVCTUBOTJ JUV TFOEJSJ UJEBL NFOKBEJ QFSNBTBMBIBO ,FTFTVBJBO LVSJLVMVN EFXBTB JOJ NFHJLVUJ BQB ZBOH UFMBI EJMBLVLBO OFHBSB EBMBN 1*4" 5*.44 EBO MBJO TFCBHBJOZB ,FOZBUBBOOZB NBTJI BEBUPQJLZBOHCFMVNEJKFMBTLBOBUBVEJCFMBKBSLBOEJUJOHLBUTFLPMBITFIJOHHBBEB
TFTVBUV ZBOH NBTJI LVSBOH 5JEBL BEB LFCFSMBOKVUBO EBMBN LFCFSMBOHTVOHBO QFOHFNCBOHBOJMNVQFOHFUBIVBO
4FMBJO QSPCMFNB EJ BUBT BEB ZBOH NFOHHBOHHV QFSKBMBOBO LFQFOEJEJLBO LFUJLB EJIVCVOHLBO EFOHBO IBTJM 6KJ ,PNQFUFOTJ (VSV 6,( TFDBSB OBTJPOBM 5FSOZBUB LPNQFUFOTJ HVSV NBTJI EJSBHVLBO BQBMBHJ KJLB QFSVCBIBO LVSJLVMVN EJLBJULBOEFOHBOLFXFOBOHBOHVSV4FKBUJOZBEFOHBOLPOTFQ,541HVSVNFOKBEJ MFCJI LSFBUJG EBO QSPEVLUJG 5FUBQJ LFOZBUBBOOZB LFCBOZBLBO HVSV NBTJI TVLB EJIBOUBS EBMBN CFSCBHBJ NFEJB ZBOH TVEBI EJTFEJBLBO QFNFSJOUBI TFQFSUJ HBZB (#11QBEBFSB,VSJLVMVNUBIVOBUBV
1FNCFSMBLVBO ,VSJLVMVN NFOKBEJLBO BLUJGJUBT HVSV NFOKBEJ LVSBOH CFSEBZB BQBMBHJ KJLB EJIVCVOHLBO EFOHBO QPUFOTJ ZBOH EJNJMJLJ HVSV VOUVL LFNVEJBO EJIVCVOHLBOEFOHBO QFOJNCVOBOQFNJMJLBO BOHLB LSFEJU HVSVEBMBN LFOBJLBO QBOHLBU TFSUB QFSCFOEBIBSBO QPSUPGPMJP NFOVKV HVSV CFSLVBMJUBT 1FOZVTVOBO CBIBO BKBS PMFI QFNFSJOUBI EJLIBXBUJSLBO BLBO UJEBL NFNFOVIJ LFCVUVIBOMPLBMZBOHMFCJIEFLBUEFOHBOBOBL.JTBMOZBQFOBNBBOOBNBZBOHBEB IVCVOHBO EFOHBO LVMUVS EBFSBI )BM JUV UJEBL BLBO EJLFOBM PMFI TJTXBTJTXB MBJO QBEB EBFSBI MBJOOZB BLJCBUOZB UJNCVM LFUJEBLCFSLFTBOBO EBMBN CFMBKBS 4FKBUJOZB QFNCFMBKBSBO JUV TBOHBU EFLBU BOBL KJLB LPTB LBUB BUBV JTUJMBI ZBOH EJUJNCVMLBO CFSEFLBUBO EFOHBO LPOEJTJ BOBL EJNBOB NFSFLB UJOHHBM UFSNBTVL DPOUPIDPOUPI ZBOH NFOKBEJ UBNQJMBOOZB /BNB A5POP MFCJI EFLBU EFOHBO BOBLBOBL EJ 1VMBV +BXB UFUBQJ "INBE EBO OBNBOBNB JTMBNJ MBJOOZB MFCJI EFLBU EFOHBO LPOEJTJ "DFI
1FOEJEJLBO "HBNB KVHB NFOKBEJ QFSMV EJCJDBSBLBO QBEB TFOUSBTFOUSB EBFSBI ZBOH NFNFOUJOHLBO QFOEJEJLBO BHBNB TFCBHBJ JOEVL QFOHVBUBO LBSBLUFS BOBL TFQFSUJ EJ "DFI NJTBMOZB 1FOEJEJLBO "HBNB TFSJOH NFOKBEJ QFNCJDBSBBO LBSFOB LFLIBXBUJSBO TFOUVIBO QFOEJEJLBO BHBNB NFOKBEJ TFEJLJU QBEB TFLPMBI TFLPMBIVNVN TFMBJONBESBTBI
5VOUVUBO QFOZFMFTBJBO EPLVNFO ,541 TFCBHBJ DJSJ CBIXB TVBUV TBUVBO QFOEJEJLBO TFEBOH NFMBLTBOBLBO ,541 *OJ KVHB QFSUBOEB CBHJBO EBSJ LVBMJUBT QFOZFMFOHHBSBBO QFOEJEJLBO EJ TVBUV TFLPMBI "QBLBI EFOHBO LVSJLVMVN NBTJI BEB QFSTJBQBO EPLVNFO PMFI TFLPMBI .JSJTOZB TFCFSBQB CBOZBL TFLPMBI TFLPMBI NFOZVTVO EPLVNFO TFCBHBJNBOB EJIBSBQLBO XBMBVQVO #4/1 UFMBI NFOZJBQLBODPOUPIDPOUPIZBOHQBUVUNFOKBEJNPEFM4FMBJOJUVKVHBLFNBNQVBO HVSV EBMBN NFOZJBQLBO TJMBCVT EFOHBO CFSCBHBJ UVOUVUBO JOUFHSBTJ 4FCFOBSOZB
NVOHLJO NVEBI UFUBQJ UFSIBOUVJ PMFI CFSCBHBJ JTUJMBI ZBOH KBSBOH UFSEFOHBS 4FQFSUJJOUFHSBTJCFODBOBLFMVBSHBCFSFODBOBEBOMBJOTFCBHBJOZB
%BSJ TFHJ QFOEFLBUBO QFOHFNCBOHBO LVSJLVMVN EFOHBO CBOZBLOZB UFSCBOUV EBMBN NBNFOFK LVSJLVMVN EJ TFLPMBI TFQFSUJ BLBO NFOHBSBI LFQBEB TFOUSBMJTUJL ZBOH BLBO NFOHBUVS TFDBSB OBTJPOBM ,FTBO ZBOH NVODVM QBSB HVSV CFSIBSBQ TFQFSUJ JUV LBSFOB LFFOHHBOBOBO VOUVL CFSLFNCBOH TFSUB NFOHFNCBOHLBOEJSJVOUVLCFSLBSZBEBOCFSJOPWBTJ
4*.16-"/
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
%"'5"31645","
"INBE).1FOHFNCBOHBO,VSJLVMVN#BOEVOH1VTUBLB4FUJB
"MJ.PIBNNBE1FOEJEJLBOVOUVLQFNCBOHVOBOOBTJPOBM+BLBSUB(SBTJOEP )BSEJNBO'#VEJ'JMTBGBU'SBHNFOUBSJT+PHKBLBSUB,BOJTJVT
*TNBJM"OEBS4FMBNBU#FSLBSZB3FOVOHBOUFOUBOH,FSKB+BLBSUB(VOVOHLFSKB
,FNFOEJLOBT4MJEF6KJ1VCMJL,VSJLVMVN
1FSBUVSBO .FOUFSJ 1FOEJEJLBO /BTJPOBM /P 5BIVO UFOUBOH4UBOEBS *TJ
VOUVL4BUVBO1FOEJEJLBO%BTBSEBO.FOFOHBI
1SBZJUOP%BTBS5FPSJEBO1SBLTJT1FOEJEJLBO#BOEVOH(SBTJOEP
3PTZBEB%FEF1BSBEJHNB1FOEJEJLBO%FNPLSBUJT+BLBSUB1SFOBEB.FEJB 4VMJTUJZPXBUJEBO"OUPOJPT$BIZVBEJ3VOUVIOZBTFLBU1FSEBUBEBO1FSEBOB+BLBSUB
:BZBTBO0CPS*OEPOFTJB
4VSBLINBE8JOBSOP1FOEJEJLBO/BTJPOBMo4USBUFHJEBO5SBHFEJ+BLBSUB,PNQBT
5JN 1FOHFNCBOH 1FOEJEJLBO 61* *MNV EBO "QMJLBTJ 1FOEJEJLBO #BOEVOH (SBTJOEP
8BTLJUP"",BNVT1SBLUJT#BIBTB*OEPOFTJB+BLBSUB8BIZV.FEJP ;BIOE.BSLVT1FSBODBOHBO,PUB4FDBSB5FSQBEV+PHKBLBSUB,BOJTJVT
