Los hongos silvestres comestibles

Anuncio
PRODUCTOS FORESTALES NO MADEREROS
\
17
Los hongos silvestres
comestibles
Perspectiva global
de su uso e importancia
para la poblaci6n
PRODUCTOS FORESTALES NO MADEREROS '..
17
Los hongos silvestres
comestibles
I
I
;.
"
Perspectiva global
de su uso e importancia
para la poblaci6n
par
Eric Boa
ORGANIZACION DE LAS NACIONES UNIDAS PARA LA AGRICULTURA Y LA ALiMENTACION
Rama, 2005
&TUBQVCMJDBDJÓOBOBMJ[BBMHVOPTVTPTUSBEJDJPOBMFTZDPOUFNQPSÃOFPTEFMPTIPOHPTDPNPBMJNFOUPPNFEJDJOB&TUF
NBUFSJBMFTQSFTFOUBEPTPMBNFOUFBUÎUVMPEFJOGPSNBDJÓOZOPJNQMJDBBQSPCBDJÓOQPSQBSUFEFMB0SHBOJ[BDJÓOEFMBT
/BDJPOFT6OJEBTQBSBMB"HSJDVMUVSBZMB"MJNFOUBDJÓO'"0
OJEFMBVUPS&MVTPEFFTUFQSPEVDUPFTSFDPNFOEBEP
ÙOJDBZFYDMVTJWBNFOUFCBKPFMDPOUSPMZSFDPNFOEBDJPOFTEFFYQFSUPTDVBMJàDBEPTPNÊEJDPT-BJOGPSNBDJÓOTPCSF
MBTFTQFDJFTDPNFTUJCMFTPWFOFOPTBTTFCBTBFOMBTGVFOUFTNFODJPOBEBT-BQSFDJTJÓOEFFTUPTEBUPTTFCBTBFOFTUBT
GVFOUFTPSJHJOBMFT
&MUSBOTQPSUFEFBMHVOBTFTQFDJFTEFIPOHPTBUSBWÊTEFMBTGSPOUFSBTJOUFSOBDJPOBMFTQPESÎBQSPWPDBSFMSJFTHP
EF JOUSPEVDDJÓO BDDJEFOUBM EF JOTFDUPT V PUSPT BHFOUFT QPUFODJBMNFOUF QFSKVEJDJBMFT 4F SFDPNJFOEB DPOUBDUBS MBT
BVUPSJEBEFTDPNQFUFOUFTFOMPTQBÎTFTEFEPOEFFMQSPEVDUPWBBTFSFYQPSUBEPZBRVFMMPTEPOEFWBBTFSMMFWBEP
BOUFTEFMMFWBSBDBCPFMUSBOTQPSUFEFIPOHPTFOFMÃNCJUPJOUFSOBDJPOBMQBSBMPTUSÃNJUFTOFDFTBSJPTEFJNQPSUBDJÓO
DFSUJGJDBEPTGJUPTBOJUBSJPTPSFTUSJDDJPOFTRVFQVFEBOTFSBQMJDBEBT
&MUSBOTQPSUFEFBMHVOPTUJQPTEFIPOHPTPEFPUSPTQSPEVDUPTGPSFTUBMFTOPNBEFSFSPTBUSBWÊTEFMBTGSPOUFSBT
JOUFSOBDJPOBMFT QPESÎB FTUBS TVKFUP B SFTUSJDDJPOFT DPNFSDJBMFT BSBODFMBSJBT Z OP
&T BDPOTFKBCMF QPOFSTF FO
DPOUBDUPDPOMBTBVUPSJEBEFTDPNQFUFOUFTBOUFTEFQMBOJGJDBSFMUSBOTQPSUFEFDVBMRVJFSBEFFTUPTQSPEVDUPTFOFM
ÃNCJUPJOUFSOBDJPOBM6ODPNQFOEJPEFMBTSFTUSJDDJPOFTDPNFSDJBMFTRVFBGFDUBOFMNFSDBEPJOUFSOBDJPOBMEFMPT
QSPEVDUPTGPSFTUBMFTOPNBEFSFSPTTFQVFEFFODPOUSBSFO
'"03FTUSJDDJPOFTRVFBGFDUBOFMDPNFSDJPJOUFSOBDJPOBMEFQSPEVDUPTGPSFTUBMFTOPNBEFSFSPTQPS.*RCBM
1SPEVDUPT'PSFTUBMFTOP.BEFSFSPT/ž3PNB
-BTEFOPNJOBDJPOFTFNQMFBEBTFOFTUFQSPEVDUPJOGPSNBUJWPZMBGPSNBFORVFBQBSF
DFOQSFTFOUBEPTMPTEBUPTRVFDPOUJFOFOPJNQMJDBOEFQBSUFEFMB0SHBOJ[BDJÓOEFMBT
/BDJPOFT6OJEBTQBSBMB"HSJDVMUVSBZMB"MJNFOUBDJÓOKVJDJPBMHVOPTPCSFMBDPOEJDJÓO
KVSÎEJDBPOJWFMEFEFTBSSPMMPEFQBÎTFTUFSSJUPSJPTDJVEBEFTP[POBTPEFTVTBVUPSJEBEFT
OJSFTQFDUPEFMBEFMJNJUBDJÓOEFTVTGSPOUFSBTPMÎNJUFT
*4#/
5PEPTMPTEFSFDIPTSFTFSWBEPT4FBVUPSJ[BMBSFQSPEVDDJÓOZEJGVTJÓOEFNBUFSJBM
DPOUFOJEPFOFTUFQSPEVDUPJOGPSNBUJWPQBSBGJOFTFEVDBUJWPTVPUSPTGJOFTOP
DPNFSDJBMFTTJOQSFWJBBVUPSJ[BDJÓOFTDSJUBEFMPTUJUVMBSFTEFMPTEFSFDIPTEFBVUPS
TJFNQSFRVFTFFTQFDJGJRVFDMBSBNFOUFMBGVFOUF4FQSPIÎCFMBSFQSPEVDDJÓOEFNBUFSJBM
DPOUFOJEPFOFTUFQSPEVDUPJOGPSNBUJWPQBSBSFWFOUBVPUSPTGJOFTDPNFSDJBMFTTJOQSFWJB
BVUPSJ[BDJÓOFTDSJUBEFMPTUJUVMBSFTEFMPTEFSFDIPTEFBVUPS-BTQFUJDJPOFTQBSBPCUFOFS
UBMBVUPSJ[BDJÓOEFCFSÃOEJSJHJSTFBM
+FGFEFM4FSWJDJPEF(FTUJÓOEFMBT1VCMJDBDJPOFTEFMB%JSFDDJÓOEF*OGPSNBDJÓOEFMB
'"0
7JBMFEFMMF5FSNFEJ$BSBDBMMB3PNF*UBMZ
PQPSDPSSFPFMFDUSÓOJDPB
DPQZSJHIU!GBPPSH
¥'"0
JJJ
¶/%*$&
1SÓMPHP
4JHMBT
"HSBEFDJNJFOUPT
3FTVNFO
WJJ
WJJJ
JY
YJ
*OUSPEVDDJØOTFOUBSMBTCBTFT
*NQPSUBODJBHFOFSBM
5SBEJDJPOFTFIJTUPSJBEFMVTP
0CKFUJWPTZFTUSVDUVSBEFFTUBQVCMJDBDJØO
-BTGVFOUFTEFJOGPSNBDJØO
$BSBDUFSÓTUJDBTCJPMPHÓBFDPMPHÓBVTPTDVMUJWBDJØO
{2VÏTPOMPTIPOHPT -BJEFOUJGJDBDJØO
-PTHSVQPTQSJODJQBMFTEFIPOHPTTJMWFTUSFT
-BDPNFTUJCJMJEBEZMPTIPOHPTWFOFOPTPT
-BDVMUJWBDJØOEFIPOHPTDPNFTUJCMFT
0SEFOBDJØOMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTMPTÈSCPMFT
ZMPTVTVBSJPTEFCPTRVFT
6TPNÞMUJQMFEFMPTCPTRVFTBTVOUPTGPSFTUBMFTZDPOGMJDUPT
3FHMBNFOUBSMBSFDPMFDDJØO
-PTSFDPMFDUPSFTZQSÈDUJDBTMPDBMFT
.ÏUPEPTEFDPTFDIBZFOGPRVFT
.FEJSMBQSPEVDDJØO
1MBOJGJDBDJØOQSÈDUJDBIBDJBVOBQSPEVDDJØOTPTUFOJCMF
*NQPSUBODJBQBSBMBQPCMBDJØOBMJNFOUPTCFOFGJDJPTFDPOØNJDPT
DPNFSDJP
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTZMPTNFEJPTEFWJEB
/VUSJDJØOZCFOFGJDJPTQBSBMBTBMVE
$PNFSDJBMJ[BDJØOMPDBMFJOHSFTPTFDPOØNJDPT
&MDPNFSDJPOBDJPOBMFJOUFSOBDJPOBM
%FTBSSPMMBSFMQPUFODJBMQPTJCJMJEBEFTBDDJPOFTPQPSUVOJEBEFT
)FDIPTDMBWF
3FTUSJDDJPOFTHFOFSBMFT
1SJPSJEBEFTFOMBJOWFTUJHBDJØOMPTIPOHPTTJMWFTUSFTDPNFTUJCMFT
0SEFOBDJØOFGFDUJWB
$PNFSDJBMJ[BDJØOZDVMUJWBDJØO
&MGVUVSPEFMPTIPOHPTDPNFTUJCMFT
'VFOUFTEFBTFTPSBNJFOUPFJOGPSNBDJØO
1FSJDJBNJDPMØHJDB
(VÓBTEFDBNQPTPCSFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFT
JW
*OGPSNBDJØOTPCSFMPTIPOHPTNFEJDJOBMFTZWFOFOPTPT 4JUJPTXFC #JCMJPHSBGÓB
"/&904
4VNBSJPEFMBJNQPSUBODJBEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFT
QPSSFHJØOZQBÓT «GSJDB "TJB &VSPQB "NÏSJDBEFM/PSUFZ$FOUSBMJODMVJEBMBSFHJØOEFM$BSJCF
0DFBOÓB "NÏSJDBEFM4VS 3FHJTUSPTQPSQBÓTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
-JTUBHMPCBMEFIPOHPTTJMWFTUSFTVTBEPTDPNPBMJNFOUP
DPOTJEFSBEPTBMJNFOUPZPDPOQSPQJFEBEFTNFEJDJOBMFT )POHPTDPNFTUJCMFTZNFEJDJOBMFTRVFQVFEFOTFSDVMUJWBEPT -PT)4$WFOEJEPTFOMPTNFSDBEPTMPDBMFT W
$6"%304
/ÞNFSPEFFTQFDJFTEFIPOHPTTJMWFTUSFTDPNFTUJCMFTZNFEJDJOBMFT %JTDJQMJOBTZÈSFBTEFBDUJWJEBERVFDPOUJFOFOJOGPSNBDJØOTPCSFMPT)46
'BNJMJBTEFQMBOUBTDPOIPOHPTFDUPNJDPSSÓ[JDPTDPNFTUJCMFT /PNCSFTDJFOUÓGJDPTQSFGFSJEPTBDUVBMFTPiDPSSFDUPTw
EFMPTIPOHPT
TJMWFTUSFTFDPOØNJDBNFOUFJNQPSUBOUFT (ÏOFSPTJNQPSUBOUFTEFIPOHPTTJMWFTUSFTDPODPNFOUBSJPTTPCSFTVTVTPT
ZDPNFSDJBMJ[BDJØO )POHPTDPOJOGPSNFTDPOGMJDUJWPTTPCSFTVDPNFTUJCJMJEBE &QJTPEJPTEFFOWFOFOBNJFOUPTFOHSBOFTDBMBDBVTBEPTQPSFMDPOTVNP
EFIPOHPTTJMWFTUSFT 7FOUBEFQFSNJTPTQBSBMBSFDPMFDDJØOEFNBUTVUBLFTFOFM#PTRVF/BDJPOBM
EF8JOFNB0SFHPO 3FDPMFDDJØOEF)4$FOMB3FQÞCMJDB6OJEBEF5BO[BOJB.ÏYJDP
'FEFSBDJØO3VTB#IVUÈO'JOMBOEJB*OEJBZ$IJOB 3FOEJNJFOUPEFMPTIPOHPTTJMWFTUSFTFOEJGFSFOUFTQBÓTFT 1SPEVDDJØOOBDJPOBMEFIPOHPTDPNFTUJCMFT 1SFQBSBDJØOEFMBTEJSFDUSJDFTQBSBMBHFTUJØOEFMPTIPOHPTTJMWFTUSFT
DPNFTUJCMFT &TUVEJPTFUOPDJFOUÓGJDPTEFIPOHPTTJMWFTUSFTDPOQSPQJFEBEFTDPNFTUJCMFT
ZNFEJDJOBMFT $PNQPTJDJØOOVUSJUJWBEFBMHVOPTIPOHPTTJMWFTUSFTDPNFTUJCMFT 7BMPSOVUSJUJWPFTUJNBEPEFBMHVOPTIPOHPTDPNFTUJCMFT 7JTJØOHFOFSBMEFMPTWBMPSFTOVUSJUJWPTEFWBSJPTBMJNFOUPT
DPNQBSBEPTDPOMPTIPOHPT 1SPQJFEBEFTZDBSBDUFSÓTUJDBTEFQSJODJQBMFTNBDSPNJDFUPTNFEJDJOBMFT 3FDPMFDDJØOMPDBMDPNFSDJBMJ[BDJØOZVTPEFMPTIPOHPTTJMWFTUSFT
DPNFTUJCMFT 1SPEVDDJØONVOEJBMEFIPOHPTDVMUJWBEPT 7BMPSEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTSFDPMFDUBEPTQPSQBÓTEFPSJHFO
.BUTVUBLFQSPEVDDJØOOBDJPOBMFJNQPSUBDJPOFTB+BQØOo
FOUPOFMBEBT
.BUTVUBLFFYQPSUBDJPOFTB+BQØOEFWBSJPTQBÓTFTo
FOUPOFMBEBT
.BUTVUBLFWBMPSEFMBTFYQPSUBDJPOFTIBDJB+BQØOEFTEFWBSJPT
QBÓTFTo 7PMVNFOEFMBTFYQPSUBDJPOFTEF)4$EFTEFBMHVOPTQBÓTFT
FOUPOFMBEBT
&YJHFODJBTEFJOGPSNBDJØOZBSHVNFOUPTSFMBUJWPTBMVTPTPTUFOJCMF
EFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFT
'VFOUFTEFBTFTPSBNJFOUPUÏDOJDPZEFJOGPSNBDJØOTPCSFMPTIPOHPT
TJMWFTUSFTDPNFTUJCMFT (VÓBTEFDBNQPZTJUJPTXFCQBSBMBJEFOUJGJDBDJØOEFMPTNBDSPIPOHPT
ZEFTVTWBSJFEBEFTDPNFTUJCMFT
4JUJPTXFCHFOFSBMFTTPCSFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTZ
BSHVNFOUPTSFMBDJPOBEPT WJ
*-6453"$*0/&4
5JQPTEFNBDSPNJDFUPTPNBDSPIPOHPT
$PNPDSFDFOMPTIPOHPTNJDPSSÓ[JDPTTBQSØGJUPTZQBUØHFOPT {$VÈMFTIPOHPTTPODPNFTUJCMFT *EFOUJGJRVFNPTMBTFTQFDJFT -BSFDPMFDDJØOEFUSVGBTFO*UBMJB &MDPNFSDJPEF#PMFUVTFEVMJT -PTIPOHPTDPNFTUJCMFTFO«GSJDB -PTIPOHPTDPNFTUJCMFTFO"NÏSJDB-BUJOBZFM$BSJCF -PTIPOHPTDPNFTUJCMFTFO"TJB -PTIPOHPTDPNFTUJCMFTZNFEJDJOBMFTFO"TJB 3&$6"%304
-PTIPOHPTTFUBT
TJMWFTUSFTDPNFTUJCMFT
1FSTQFDUJWBTEFVOQBÓTFOEFTBSSPMMP
i4JDPNPFTUFCPXBTJHOJGJDBRVFFTQFSGFDUPQBSBMBWFOUBwMFDDJØO
EFNPTUSBUJWBEFM4S4BCJUJ'JEFTVODPNFSDJBOUFEF.BMBXJ
&MNBUTVUBLFZTVFYQPSUBDJØOB+BQØO
*OWFOUBSJPQSÈDUJDPFYQFSJFODJBTEFTEF.BMBXJ
-PTQSPZFDUPTEFEFTBSSPMMPZMPTIPOHPTTJMWFTUSFTDPNFTUJCMFT
"NJOPÈDJEPTQSPUFÓOBTZFMWBMPSOVUSJUJWPEFMPTIPOHPTTJMWFTUSFT
DPNFTUJCMFT
-PTQFSNJTPTZMBTMFZFTFONBUFSJBEFSFDPMFDDJØO
-BDBMJEBEEFMQSPEVDUPZTVJNQPSUBODJBQBSBFMDPNFSDJP
WJJ
13»-0(0
-BNBZPSQBSUFEFMPTEFCBUFTFOMPTGPSPTJOUFSOBDJPOBMFTTPCSFBTQFDUPTGPSFTUBMFTZ
EFM EFTBSSPMMP BOBMJ[BO MB GPSNB FO MB DVBM MPT CPTRVFT MPT QSPEVDUPT GPSFTUBMFT Z MB
TJMWJDVMUVSB FO HFOFSBM QVFEFO DPOUSJCVJS B MPT 0CKFUJWPT EF EFTBSSPMMP EFM .JMFOJP EF
MBT/BDJPOFT6OJEBTSFEVDJSBMBNJUBEMBQPCSF[BZMBJOTFHVSJEBEBMJNFOUBSJBEFOUSP
EFM BÒP &M QSPHSBNB '"0 EF QSPNPDJÓO Z EFTBSSPMMP EF 1SPEVDUPT 'PSFTUBMFT
OP .BEFSFSPT 1'/.
FTUÃ DPOUSJCVZFOEP B FTUPT PCKFUJWPT PQUJNJ[BOEP FM VTP
TPTUFOJCMFEFMPT1'/.DPOFMGJOEFNFKPSBSMBQSPEVDDJÓOEFCFOFGJDJPTFDPOÓNJDPT
ZMBTFHVSJEBEBMJNFOUBSJBQBSBGBWPSFDFSVOBPSEFOBDJÓOQSVEFOUFEFMPTCPTRVFTEFM
NVOEPZDPOTFSWBSTVEJWFSTJEBECJPMÓHJDB
&O FTUF DPOUFYUP MPT IPOHPT MMBNBEPT UBNCJÊO iTFUBTu
TPO VOP EF MPT HSVQPT
NÃT JNQPSUBOUFT EF 1'/. SFDPMFDUBEPT FO UPEP FM NVOEP Z VTBEPT QBSB GJOFT EF
TVQFSWJWFODJB WFOEJEPT UBOUP FO MPT NFSDBEPT MPDBMFT DPNP FO MPT SFTUBVSBOUFT 4JO
FNCBSHP MB NBZPS QBSUF EF MB JOGPSNBDJÓO EJTQPOJCMF TPCSF MPT IPOHPT JMVTUSB MBT
FTQFDJFT DVMUJWBEBT Z MPT EBUPT TPCSF MPT IPOHPT TJMWFTUSFT DPNFTUJCMFT )4$
TPO
UPEBWÎBFTDBTPT
&TUBQVCMJDBDJÓOUJFOFFMQSPQÓTJUPEFEPDVNFOUBSZBOBMJ[BSFMQBQFMEFMPT)4$FO
MBTFHVSJEBEBMJNFOUBSJBDPODFOUSÃOEPTFFOMPTQBÎTFTFOEFTBSSPMMP)FNPTSFDPQJMBEP
FOFTUFWPMVNFOMBJOGPSNBDJÓOBNQMJBNFOUFEJTQFSTBTPCSFFMVTPZMBTQPTJCJMJEBEFT
EF EFTBSSPMMP EF MPT )4$ JODMVZFOEP BSHVNFOUPT UBMFT DPNP FDPMPHÎB SFDPMFDDJÓO
DPTFDIBCFOFGJDJPTTPDJPFDPOÓNJDPTZDPNFSDJP
%JWVMHBOEP FTUB JOGPSNBDJÓO TF FTQFSB RVF MB BUFODJÓO EF MPT UÊDOJDPT GPSFTUBMFT
OVUSJDJPOJTUBT QMBOJGJDBEPSFT EF SFDVSTPT OBUVSBMFT SFTQPOTBCMFT EF QPMÎUJDBT Z PUSBT
QBSUFTJOUFSFTBEBTTFDPODFOUSFFOMBSFMBDJÓOFOUSFFTUBJNQPSUBOUFDBUFHPSÎBEF1'/.
MBTFHVSJEBEBMJNFOUBSJBZVOBPSEFOBDJÓOGPSFTUBMTPTUFOJCMF
4FFTQFSBRVFFTUBQVCMJDBDJÓODPOUSJCVZBBQSPNPWFSFMVTPTPTUFOJCMFEFMPT)4$
DPNPVOFMFNFOUPWBMJPTPQBSBFMQSPDFTPEFEFTBSSPMMPFDPOÓNJDPZEFTEFMVFHPQBSB
FMBMJWJPEFMBQPCSF[B
8VMG,JMMNBOO
%JSFDUPS
%JSFDDJÓOEF1SPEVDUPTZ&DPOPNÎB'PSFTUBMFT
%FQBSUBNFOUPEF.POUFTEFMB'"0
WJJJ
4*(-"4
%'*%
%FQBSUBNFOUPEF%FTBSSPMMP*OUFSOBDJPOBM
&.$
&DUPNJDPSSJ[B
)4$
)POHPTTJMWFTUSFTDPNFTUJCMFT
)46
)POHPTTJMWFTUSFTÙUJMFTJODMVZFMPTIPOHPTDPNFTUJCMFT
MPTIPOHPTNFEJDJOBMFTZMPTIPOHPTDPOPUSBTQSPQJFEBEFT
.5$
.FEJDJOBUSBEJDJPOBMDIJOB
0/(
0SHBOJ[BDJÓOOPHVCFSOBNFOUBM
1'/.
1SPEVDUPTGPSFTUBMFTOPNBEFSFSPT
4&3."/"5 4FDSFUBSÎBEF.FEJP"NCJFOUFZ3FDVSTPT/BUVSBMFT
JY
"(3"%&$*.*&/504
&TUB QVCMJDBDJÓO TF CBTB FO VOB WFSTJÓO FO JOHMÊT QSPQVFTUB QPS &SJD #PB EF $"#*
#JPTDJFODF&MBVUPSTFEFEJDÓQPSQSJNFSBWF[BMPT)4$HSBDJBTB+JN8BMMFSVODPMFHB
EF $"#* #JPTDJFODF &TUB DPMBCPSBDJÓO DPOEVKP BM QSPZFDUP )POHPT $PNFTUJCMFT EF
.JPNCP GVOEBEP QPS FM %FQBSUBNFOUP EF %FTBSSPMMP *OUFSOBDJPOBM %'*% QPS TVT
TJHMBT FO JOHMÊT
EF B Z QVFTUP FO QSÃDUJDB FO DPOKVOUP DPO FM *OTUJUVUP EF
*OWFTUJHBDJÓO'PSFTUBMEF.BMBXJ1BVM,JSL(FSBME.FLFZ+BOFU-PXPSFDPOUSJCVZFSPO
FOPSNFNFOUFDPOFTUFQSPZFDUPZDPOMBBTJNJMBDJÓOQFSTPOBMTPCSFMPT)4$ZTVVTP
QPSQBSUFEFMBQPCMBDJÓOSVSBM
&M BVUPS TF NPTUSBCB JOUSJHBEP Z FTUVQFGBDUP DPOUJOVBNFOUF QPS UPEP MP RVF TF IB
FTDSJUP TPCSF MPT )4$ EBUPT B NFOVEP FTDPOEJEPT FO JOGPSNFT Z FO PUSPT MVHBSFT
NFOPT WJTJCMFT %PT DPMFHBT CSJUÃOJDPT #SJBO .PSSJT Z (SBIBN 1JFBSDF MF TJSWJFSPO
EF JOTQJSBDJÓO QBSUJDVMBS "NCPT MMFWBSPO B DBCP JOWFTUJHBDJPOFT BNQMJBT Z DPOUJOVBT
FO NJSBT B EFNPTUSBS MB JNQPSUBODJB EF MPT )4$ QBSB MB HFOUF EF ¦GSJDB NFSJEJPOBM
Z UBNCJÊO MPHSBSPO DSFBS DPODJFODJB FO VO GSFOUF NÃT BNQMJP TPCSF FTUF SFDVSTP
GSFDVFOUFNFOUF EFTBQSPWFDIBEP (SBIBN FT VOB GVFOUF JOBHPUBCMF EF DPNFOUBSJPT
JOGPSNBDJÓOZGPUPHSBGÎBT
%BWF 1JM[ EF &TUBEPT 6OJEPT FT NJFNCSP EF VO HSVQP EF DJFOUÎGJDPT RVF IB
USBCBKBEPDPOMPT)4$FOFM1BDÎGJDPOPSPFTUF4VMBCPSUBNCJÊOIBTJEPVOBGVFOUFEF
JOTQJSBDJÓOZEFBTJNJMBDJÓO&MBVUPSBHSBEFDFB%BWJEFOQBSUJDVMBSFMCFOFGJDJPEFTVT
QFSDFQDJPOFTTPCSFBSHVNFOUPTEFBOÃMJTJTDJFOUÎGJDP+FGGFSZ#FOUMFZIJ[PNVDIPQBSB
QPOFSBMBVUPSBMDPSSJFOUFEFMPTQSPCMFNBTEFMBHFOUFZTJOFTUBWBMJPTBBZVEBFTUBSÎB
UPEBWÎBMVDIBOEPQBSBFTUBCMFDFSMBTDPOFYJPOFTGSVDUÎGFSBTFOUSFMBDJFODJBZFMEFTBSSPMMP
&OMB'"0-BVSB3VTTPTVHJSJÓRVFFTDSJCJFSBFTUFMJCSPZ4WFO8BMUFSTVQFSWJTÓTV
SFBMJ[BDJÓOSFWJTBOEPDPOQBDJFODJBBOBMÎUJDBFMEPDVNFOUP&MBVUPSBHSBEFDFUBNCJÊOB
4WFOZBTVTDPMFHBTFOQBSUJDVMBSB'MPSFODF&HBM'SBOÉPJT/%FDLFSF;JBOHCB+PSJLF
1PUUFST .FUUF -PZDIF8JMLJF .JDIFMF -BWFSEJÍSF 0MNBO 4FSSBOP 1BVM 7BOUPNNF
1FUFS#BJMFZZ5JOB&UIFSJOHUPOQPSTVTPCTFSWBDJPOFT"HSBEFDFBEFNÃTBTVGBNJMJB
QPS IBCFSMF CSJOEBEP FM UJFNQP EF DPNQMFUBS FTUF QSPZFDUP Z EF MB NJTNB NBOFSB B
MPT EFNÃT BNJHPT RVF MF BZVEBSPO DPO FM BMPKBNJFOUP Z MB USBORVJMJEBE OFDFTBSJB QBSB
FTDSJCJS
&M BVUPS FYUJFOEF VO SFDPOPDJNJFOUP B MBT EFNÃT QFSTPOBT RVF MF CSJOEBSPO BZVEB
Z RVF NFODJPOB FO PSEFO BMGBCÊUJDP "MFTTBOESB ;BNCPOFMMJ *UBMJB
"OBCFMB .BSUJOT
1PSUVHBM
"OB'SBODP.PMBOP$PMPNCJB
"OESÊEF.FJKFS#SBTJM
"OESÊEF,FTFM
#ÊMHJDB
"OESFX1VMGPSE3FJOP6OJEP
"OUPOFMMB"NJDVDDJ*UBMJB
"OYJPVT.BTVLB
;JNCBCXF
"SBJMEF'VFOUFT#SBTJM
"SJF#JKM4VEÃGSJDB
"UUJMB)FHFEVT)VOHSÎB
#BSU#VZDL'SBODJB
#SFOEB%PXO3FJOP6OJEPZ4JFSSB-FPOB
#SJBO.PSSJT3FJOP
6OJEP
$BSPMJOF#PB3FJOP6OJEP
%BOJFM8JOLMFS&&66
%BWF1JM[&&66
%BWJE.JOUFS3FJOP6OJEP
%FOOJT%FTKBSEJO&&66
%VODBO#PB3FJOP6OJEP
&MBJOF .BSTIBMM 3FJOP 6OJEP Z .ÊYJDP
&MTF 7FMMJOHB &&66
&NJEJP #PSHIJ
*UBMJB
'SBOL5BZMPS#PUTXBOB
(FOF:FUUFS&&66
(FPSHFT3FOÊ*UBMJBZ)BJUÎ
(FSBME.FLF.BMBXJ
(FSSJUU.BSBJT4VEÃGSJDB
(JBOMVJHJ(SFHPSJ*UBMJB
))PTBLB
3FQÙCMJDB %FNPDSÃUJDB 1PQVMBS -BP
(SBIBN 1JFBSDF 3FJOP 6OJEP
(JVTFQQF
$BSEJOBMF *UBMJB
)BSSZ &WBOT 3FJOP 6OJEP
)JMEFHVO 'MPN /PSVFHB
*BO )BMM
/VFWB ;FMBOEB
*CV -FZVMBOJ *OEPOFTJB
*SJOB (PSCVOPWB 'FEFSBDJÓO 3VTB
*SNB (BNVOEÎ "SHFOUJOB
+BOFU 1SPCZO -PXPSF .BMBXJ
+BWJFS -BOEFS &TQBÒB
+FSSZ $PPQFS /VFWB ;FMBOEB
+JN 8BMMFS 3FJOP 6OJEP
+JNNZ -PXPSF GBMMFDJEP
.BMBXJ
+PMBOEB3PVY4VEÃGSJDB
-BVSP3VTTP*UBMJB
-FTMFZ3BHBC3FJOP6OJEP
Y
-VCB /BOBHVZMBO "SNFOJB
-VP (IVP[IPOH $IJOB
. 4OPXBSTLJ 1PMPOJB
.BSD %VDPVTTP 'SBODJB
.BSJB $IBNCFSMBJO 3FJOP 6OJEP
.BSJB 5FSFTB 4DIJGJOP
8JUUNBOO #SBTJM
.BSJTFMB ;BNPSB.BSUÎOF[ .ÊYJDP
.BSKB )ÅSLÕOFO 'JOMBOEJB
.BSZ"QFUPSHCPS(IBOB
.FSBM(VSFS5VSRVÎB
.JLF)PXBSE4VEÃGSJDB
.JSJBN
EF 3PNÃO &TQBÒB
:MFT .BOEFS 4VEÃGSJDB
/FDMB $BHMBSJSNBSL 5VSRVÎB
1BVM
)PVTF )POEVSBT Z 3FJOP 6OJEP
1BVM ,JSL 3FJOP 6OJEP
1IVOUTIP /BNHZFM
#IVUÃO
1JFSMVJHJZTVQFSSJUB-VOB6SCJOP*UBMJB
3PCFSUP'MPSFT(VBUFNBMB
3PSZ
.D#VSOFZ3FJOP6OJEP
3PZ8BUMJOH&TDPDJB
4BSB.BMUPOJZTV.BNÃ$FSEFÒB
4FPOB "OEFSTPO 3FJOP 6OJEP
4JODMBJS 5FEEFS $BOBEÃ
4PMPNPO 8BTTFS *TSBFM
4PVMFNBOF:PSPV#FOJO
4UFQIBOPT%JBNBOEJT(SFDJB
4VTBO"MFYBOEFS&&66
4WFO 8BMUFS *UBMJB
5JN -JWFTFZ 3FJOP 6OJEP
8BSSFO 1SJFTU 3FJOP 6OJEP
:VO
8BOH$IJOBZ/VFWB;FMBOEB
&TUPTBNJHPTZDPMFHBTIBOTVNJOJTUSBEPBMBVUPSVOBWBMJPTBJOGPSNBDJÓO$VBMRVJFS
FSSPSFOMBQSFTFOUBDJÓOPJOUFSQSFUBDJÓORVFEBFOUSFFMBVUPSZMB'"01BVM,JSLDPOUSPMÓ
MPTOPNCSFTDJFOUÎGJDPTEFMPTIPOHPTTJMWFTUSFTZTVHJSJÓDBNCJPTRVFDPODPSEBSBODPO
MB UFOEFODJB UBYPOÓNJDB BDUVBM &TUB FT VO ÃSFB RVF TF QSFTUB B DPOGVTJÓO Z TJO MVHBS
B EVEBT MBT MJTUBT DPNQJMBEBT QBSB FTUF MJCSP OFDFTJUBSÎBO BMHVOPT DBNCJPT 4F FTUÃO
MMFWBOEPBDBCPOVFWBTJOJDJBUJWBTTPCSF)4$EJSJHJEBTBTVVTPTPTUFOJCMFQPSQBSUFEF
MBQPCMBDJÓOSVSBMFTQFDÎGJDBQFSPOPFYDMVTJWBNFOUFFOMPTQBÎTFTFOWÎBTEFEFTBSSPMMP
YJ
3&46.&/
-PT)4$TPOSFDPMFDUBEPTQBSBBMJNFOUBDJÓOZQBSBCFOFGJDJPFDPOÓNJDPFONÃTEF
QBÎTFTEFUPEPFMNVOEP)BZVOBBNQMJBWBSJFEBEEFFTQFDJFTEJGFSFOUFTEFTEFMBTUSVGBT
IBTUBMPTIPOHPTEFQJOPEFTEFMPTSFCP[VFMPTIBTUBMPTIPOHPT5FSNJUPNZDFTDPONÃT
EFFTQFDJFTSFHJTUSBEBTEVSBOUFMBQSFQBSBDJÓOEFFTUFMJCSP6OQFRVFÒPHSVQPEF
FTQFDJFTFTEFJNQPSUBODJBFDPOÓNJDBQBSBMBFYQPSUBDJÓOQFSPTVNBZPSJNQPSUBODJB
SFTJEF FO MPT VTPT EF TVQFSWJWFODJB EF MPT QBÎTFT FO EFTBSSPMMP 1SPQPSDJPOBO VOB
DPOUSJCVDJÓOJNQPSUBOUFBMBEJFUBFO¦GSJDBDFOUSBMZNFSJEJPOBMEVSBOUFMPTNFTFTEFM
BÒPFOMPTDVBMFTFMBCBTUFDJNJFOUPEFBMJNFOUPTFTHFOFSBMNFOUFFTDBTP&OPUSBTQBSUFT
EFMNVOEPTPOVODPNQMFNFOUPWBMJPTPZOVUSJUJWPEFMBEJFUBEFMBQPCMBDJÓOSVSBM
-B SFDPMFDDJÓO DPNFSDJBM FT JNQPSUBOUF FO QBÎTFT UBMFT DPNP ;JNCBCXF 5VSRVÎB
1PMPOJB &TUBEPT 6OJEPT 3FQÙCMJDB 1PQVMBS %FNPDSÃUJDB EF $PSFB Z #IVUÃO &M
DPNFSDJPEFFYQPSUBDJÓOFTUÃSFHVMBEPQPSVOBEFNBOEBFOGVFSUFFYQBOTJÓOQPSQBSUF
EF&VSPQBZ+BQÓOZTFFGFDUÙBGVOEBNFOUBMNFOUFEFTEFMPTQBÎTFTQPCSFTBMPTSJDPT
&TUP FT QPTJUJWP QBSB MPT DPNFSDJBOUFT Z SFDPMFDUPSFT MPDBMFT Z QSPQPSDJPOB JOHSFTPT
FDPOÓNJDPT JNQPSUBOUFT QBSB TPMWFOUBS MPT HBTUPT FTDPMBSFT EF MPT OJÒPT Z SFEVDJS MB
QPCSF[BFOÃSFBTEPOEFMBTQPTJCJMJEBEFTEFHBOBSEJOFSPTPOMJNJUBEBT-PTNFSDBEPT
MPDBMFTFOUPEPFMNVOEPSFWFMBOVOGVFSUFDSFDJNJFOUPBQFTBSEFMDPNFSDJPJOEJWJEVBM
NÃT QFRVFÒP FO VO HSBOEÎTJNP ÃNCJUP EF FTQFDJFT "VORVF FT EJGÎDJM EF DBMDVMBS
FO DPNQBSBDJÓO DPO VOB FYQPSUBDJÓO NÃT WJTJCMF EF )4$ FM NFSDBEP MPDBM FT EF
DPOTJEFSBCMFWBMPSQBSBMPTSFDPMFDUPSFTFJODSFNFOUBFMTVNJOJTUSPEFBMJNFOUPBNVDIBT
ÃSFBTEFTFHVSJEBEBMJNFOUBSJBFOEFCMF
-BSFDPMFDDJÓOZFMDPOTVNPDBNCJBOFODBEBQBÎTWBOEFTEFMPTNPEFMPTFYUFOTJWPT
F JOUFOTJWPT EF $IJOB IBTUB VO VTP NÃT SFTUSJOHJEP FO MBT QPCMBDJPOFT BVUÓDUPOBT
TVEBNFSJDBOBT &O FM QSPDFTP EF SFDPMFDDJÓO OP TF SFHJTUSBO HSBOEFT DBOUJEBEFT EF
IPOHPT VUJMJ[BEBT QBSB FM BVUPDPOTVNP &M WBMPS OVUSJUJWP EF MPT )4$ OP EFCFSÎB
TVCFTUJNBSTF TF QVFEF DPNQBSBS BM EF VOB CVFOB DBOUJEBE EF WFSEVSBT Z FO NVDIPT
DBTPTBRVFMMPTUJFOFOVOWBMPSBMJNFOUBSJPNÃTBMUP
-PT )4$ UJFOFO VO QBQFM FDPMÓHJDP JNQPSUBOUF .VDIBT EF MBT FTQFDJFT EFTUBDBEBT
WJWFOFOTJNCJPTJTDPOMPTÃSCPMFTZFTUBBTPDJBDJÓONJDPSSÎ[JDBTPTUJFOFFMDSFDJNJFOUP
EF MPT CPTRVFT OBUVSBMFT BVUÓDUPOPT Z EF MBT QMBOUBDJPOFT DPNFSDJBMFT FO MBT [POBT
UFNQMBEBT Z USPQJDBMFT -PT )4$ TBQSÓGJUPT BVORVF NFOPT JNQPSUBOUFT FO DVBOUP B
DBOUJEBEFTSFDPMFDUBEBTZHBOBODJBQBSBMBTWFOUBTMPDBMFTTPOJNQPSUBOUFTFOFMSFDJDMBKF
EFTVTUBODJBTOVUSJUJWBT-BTFTQFDJFTTBQSÓGJUBTTPOMBCBTFQBSBVODPNFSDJPHMPCBMEF
IPOHPTDVMUJWBEPTUBOJNQPSUBOUFRVFBDUVBMNFOUFSPOEBMPTNJMNJMMPOFTEFEÓMBSFT
&&66QPSBÒP­TUBFTVOBGVFOUFDSFDJFOUFEFJOHSFTPTQBSBMBTFNQSFTBTFOQFRVFÒB
FTDBMBEFMPTQBÎTFTFOEFTBSSPMMP
-PT )4$ TPO BMHVOPT EF MPT NÃT WBMJPTPT 1'/. DPO VO FOPSNF QPUFODJBM EF
FYQBOTJÓO DPNFSDJBM QFSP QSFTFOUBO UBNCJÊO SFUPT FO TV HFTUJÓO Z QSPEVDDJÓO
TPTUFOJCMFDPNPQBSUFJOUFHSBOUFEFCPTRVFTEFVTPNÙMUJQMF"MHVOBTQSFPDVQBDJPOFT
TPCSFFMJNQBDUPEFVOBSFDPMFDDJÓOFYDFTJWBTVHJFSFONFKPSFTEBUPTFOFMSFOEJNJFOUPZ
QSPEVDUJWJEBEZVOFYBNFONÃTNJOVDJPTPEFMPTSFDPMFDUPSFTZEFMBTQSÃDUJDBTMPDBMFT
4FOFDFTJUBVOBDPPQFSBDJÓONÃTFTUSFDIBFOUSFMPTSFTQPOTBCMFTEFMBPSEFOBDJÓOGPSFTUBM
ZMPTRVFVTBOMPT)4$ZIBZRVFQSPQPOFSTVHFSFODJBTTPCSFDPNPTFQVFEFBMDBO[BS
FTUFPCKFUJWP
4FIBDFIJODBQJÊFOFMVTPEFMPT)4$QBSBMBTVQFSWJWFODJBZFOTVJNQPSUBODJBQBSBMB
QPCMBDJÓOSVSBMEFMPTQBÎTFTFOEFTBSSPMMPBVORVFFTUBFTVOÃSFBEPOEFFYJTUFOUPEBWÎB
YJJ
FOPSNFTWBDÎPTFOMBJOGPSNBDJÓO)BZUBNCJÊOVOBSFDPMFDDJÓODPNFSDJBMJNQPSUBOUF
FO MPT QBÎTFT EFTBSSPMMBEPT UBMFT DPNP &TUBEPT 6OJEPT Z $BOBEÃ Z FO MBT FDPOPNÎBT
FNFSHFOUFT EF &VSPQB EFM FTUF QFK 1PMPOJB 4FSCJB Z .POUFOFHSP
4JO FNCBSHP MPT
QBÎTFT EFM /PSUF TPO NÃT JNQPSUBOUFT DPNP EFTUJOP QBSB MBT FYQPSUBDJPOFT Z DPNP
GVFOUFEFQFSJDJBDJFOUÎGJDBFTQFDJBMNFOUFFOMBNJDPMPHÎBFTUVEJPEFMPTIPOHPT
&TUBQFSJDJBDJFOUÎGJDBFTUÃTJFOEPBQMJDBEBDBEBEÎBNÃTQBSBDPOUSJCVJSBMPHSBSMPT
0CKFUJWPTEFEFTBSSPMMPEFM.JMFOJPRVFJODMVZFOFMBMJWJPEFMBQPCSF[BZFMVTPTPTUFOJCMF
EFMPTSFDVSTPTOBUVSBMFT)BTJEPBMDBO[BEPZTJHVFBMDBO[ÃOEPTF
VOQSPHSFTPFGFDUJWP
FOFMQBQFMRVFMPT)4$UJFOFOFOFMDVNQMJNJFOUPEFFTUPTPCKFUJWPT
*OUSPEVDDJØOTFOUBSMBTCBTFT
*.1035"/$*"(&/&3"-PT IPOHPT TJMWFTUSFT DPNFTUJCMFT IBO TJEP SFDPMFDUBEPT Z DPOTVNJEPT QPS MB HFOUF
EVSBOUF NJMFT EF BÒPT -PT SFHJTUSPT BSRVFPMÓHJDPT SFWFMBO FTQFDJFT DPNFTUJCMFT
BTPDJBEBT DPO MBT QPCMBDJPOFT DIJMFOBT EF IBDF BÒPT 3PKBT Z .BOTVS QFSP FT FO $IJOB EPOEF TF OPUB QPS QSJNFSB WF[ TV DPOTVNP DPNP BMJNFOUP WBSJPT
TJHMPTBOUFTEFMOBDJNJFOUPEF$SJTUP"BSPOTPO
-PTIPOHPTTJMWFTUSFTGVFSPO
SFDPMFDUBEPTFOMPTCPTRVFTFOUJFNQPTEFMBBOUJHVB(SFDJBZEFMPTSPNBOPTTJFOEP
BQSFDJBEPT NÃT QPS QFSTPOBT EF BMUP SBOHP RVF QPS MB QPCMBDJÓO FO HFOFSBM #VMMFS
-B i"NBOJUB EF MPT $ÊTBSFTu "NBOJUB DBFTBSFB
FT FM MFHBEP EF VOB BOUJHVB
USBEJDJÓO RVF UPEBWÎB FYJTUF FO NVDIBT QBSUFT EF *UBMJB Z BCBSDB VOB HSBO WBSJFEBE
EF FTQFDJFT DPNFTUJCMFT FOUSF MBT DVBMFT QSFEPNJOBO FM UBSUVGP USVGB TQ 5VCFS
Z FM
QPSDJOPCPMFUPDPNFTUJCMF#PMFUVTFEVMJT
$IJOBBQBSFDFQSFQPOEFSBOUFNFOUFFOFMSFHJTUSPIJTUÓSJDPBOUJHVPZNPEFSOPEF
MPT)4$-PTDIJOPTIBOBQSFDJBEPNVDIBTFTQFDJFTDPOFMQBTBSEFMPTTJHMPTOPTÓMP
QPS TVT QSPQJFEBEFT OVUSJUJWBT Z TBCPS TJOP UBNCJÊO QPS TVT QSPQJFEBEFT DVSBUJWBT
)PZFOEÎBFTUPTWBMPSFTZUSBEJDJPOFTTPOUBOGVFSUFTDPNPMPFSBOIBDFTJHMPTZFTUÃO
DPOGJSNBEPT QPS MB HSBO DBOUJEBE EF IPOHPT TJMWFTUSFT SFDPMFDUBEPT FO MPT CPTRVFT Z
DBNQPTRVFTFWFOEFOFOMPTNFSDBEPTEFUPEPFMNVOEP8BOH
*MVTUSBDJÓO
$IJOBFTUBNCJÊOFMMÎEFSFOFYQPSUBDJPOFTEFIPOHPTDVMUJWBEPT
&TUÃNFOPTEJGVOEJEPFMIFDIPEFRVFQBÎTFTDPNP.ÊYJDP*MVTUSBDJÓO
5VSRVÎB
Z HSBOEFT ÃSFBT EF $FOUSP Z 4VEÃGSJDB *MVTUSBDJÓO UJFOFO UBNCJÊO VOB USBEJDJÓO
BOUJHVB F JNQPSUBOUF DPO MPT )4$ -B MJTUB EF QBÎTFT EPOEF TF DJUB FM DPOTVNP Z MB
QSPEVDDJÓOEFJOHSFTPTQBSBMBQPCMBDJÓOSVSBMQPSNFEJPEFMPTIPOHPTTJMWFTUSFTFT
NVZFYUFOTB"OFYP
&O MÎOFB HFOFSBM TF FYBHFSB TPCSF MB $6"%30
BNFOB[B SFQSFTFOUBEB QPS MBT FTQFDJFT /ÞNFSPTEFFTQFDJFTEFIPOHPTTJMWFTUSFTDPNFTUJCMFTZ
WFOFOPTBT Z MFUBMFT -PT FQJTPEJPT EF NFEJDJOBMFT
/¡%&&41&$*&4 103$&/5"+&
NVFSUFT Z FOWFOFOBNJFOUPT TPO QPDPT Z $"5&(03¶"
505"SBSPTDPNQBSBEPTDPOFMDPOTVNPDPUJEJBOP 4ØMPDPNFTUJCMFT
Z TFHVSP EF MBT FTQFDJFT TJMWFTUSFT QFSP FO $PNFTUJCMFTZNFEJDJOBMFT
BMHVOBTTPDJFEBEFTMBQVCMJDJEBEZMPTFTUJMPT 4ØMPBMJNFOUP
DVMUVSBMFTTJHVFOTFNCSBOEPUFNPSSFTQFDUP
"MJNFOUPZNFEJDJOBM
B MPT IPOHPT TJMWFTUSFT &TUP BDPOUFDF DPO
4ØMPNFEJDJOBM
NBZPSGSFDVFODJBFOMPTQBÎTFTEFTBSSPMMBEPT
Z IB MMFWBEP JOEVEBCMFNFOUF B MB DSFFODJB 0USPTVTPTGVFSBEFMPT
BOUFSJPSFT
HFOFSBMJ[BEBEFRVFFMVTPNVOEJBMEF)4$ 505"-FTQFDJFTTJMWFTUSFTÞUJMFT
TFEBFOQFRVFÒBFTDBMBZFTUÃSFTUSJOHJEPB 50%04TØMPDPNFTUJCMFT
ÃSFBT DMBWF 1SPQPTJDJÓO RVF DPNP SBUJGJDB 50%04BMJNFOUP
FTUBPCSBUJFOFVOWBMPSEFWFSEBEOFHBUJWP 50%04NFEJDJOBMFT
$VBESP &M DPOTVNP EF MPT )4$ FT
FYUFOTJWP F JOUFOTJWP BVORVF MPT NPEFMPT /PUB $PNQJMBEP EF NÈT EF GVFOUFT EJGFSFOUFT PSJHJOBSJBT
EF QBÓTFT QFSP FYDMVZF VO SFTVNFO EFUBMMBEP EF FTQFDJFT EF
EFVTPTFBOWBSJBCMFT"OFYP
MPT QBÓTFT EFTBSSPMMBEPT -BT WBSJFEBEFT Z MBT TVCFTQFDJFT IBO TJEP
7ÊBTFFOFM3FDVBESPMBUFSNJOPMPHÎBVUJMJ[BEBFO
FTUFMJCSP
DBMDVMBEBT QPS TFQBSBEP -BT DBUFHPSÓBT BMJNFOUP Z DPNFTUJCMF TF
FYDMVZFO NVUVBNFOUF 1BSB EJTUJOHVJS DMBSBNFOUF FOUSF FM VTP Z MBT
QSPQJFEBEFT EF VOB FTQFDJF IBDF GBMUB VO OÞNFSP JNQPSUBOUF EF
FTQFDJFTDPNFTUJCMFTRVFTFVTBODPNPBMJNFOUP
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
3&$6"%30
-PTIPOHPTTFUBT
TJMWFTUSFTDPNFTUJCMFT
-PT IPOHPT TPO VO HSVQP CJFO EJGFSFODJBEP EF PSHBOJTNPT RVF JODMVZF FTQFDJFT DPO DBSQÓGPSPT
HSBOEFT Z WJTJCMFT FT EFDJS NBDSPNJDFUPT NBDSPIPOHPT V IPOHPT TVQFSJPSFT
-PT FKFNQMPT NÃT
DPOPDJEPTEFNBDSPNJDFUPTTPOMBTiTFUBTuQBMBCSBBNQMJBNFOUFVTBEBFO&TQBÒBQBSBSFGFSJSTFBMPT
IPOHPTDPNFTUJCMFT
5JFOFOTPNCSFSPZUBMMPZTVIÃCJUBUOBUVSBMTPOMBDBNQJÒBZMPTCPTRVFT-B
NBZPSQBSUFEFFTUPTPSHBOJTNPTTJNQMFNFOUFOPTPODPNFTUJCMFTQFSPIBZFTQFDJFTJNQPSUBOUFTRVF
QVFEFOTFSDPOTVNJEBT&MOÙNFSPEFFTQFDJFTWFOFOPTBTFTNVZSFEVDJEPNJFOUSBTMBTMFUBMFTTPOVO
NÎOJNPQPSDFOUBKF-PTIPOHPTDPNFTUJCMFTNÃTGBNJMJBSFTTPOMPTDVMUJWBEPTMPTDVBMFTTFWFOEFOFO
MPTTVQFSNFSDBEPTGSFTDPTPFODPOTFSWB
-PT NBDSPNJDFUPT UJFOFO NVDIBT GPSNBT Z BTQFDUPT EJGFSFOUFT -PT CPMFUPT DPNFTUJCMFT UJFOFO
QPSPTFOWF[EFMBNJOJMMBTFOMBQBSUFJOGFSJPSEFMTPNCSFSPMBTUSVGBTDSFDFOEFCBKPEFMBUJFSSBZOP
UJFOFOUBMMPOJTPNCSFSP*MVTUSBDJÓO
&MIVJUMBDPDIFFTVOQMBUJMMPNFKJDBOPQSPEVDJEPDVBOEPMBT
NB[PSDBTEFNBÎ[FTUÃOJOGFDUBEBTQPSIPOHPT­TUPTMÓHJDBNFOUFOPTPOiTFUBTu
4FBDPTUVNCSBEJTUJOHVJSFMPSJHFOEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTZFMIFDIPEFRVFJODMVZFO
VOB HSBO WBSJFEBE EF GPSNBT FOUSF MBT DVBMFT UFOFNPT MPT RVF JOGFDUBO MBT NB[PSDBT EF NBÎ[ MPT
HBTUFSPNZDFUFTMPTCPMFUPTMPTHSVQPTEFIPOHPTZQPSTVQVFTUPMBTiTFUBTu.VDIBTQVCMJDBDJPOFT
QFK.BZFUBMB
TFSFGJFSFOBMPTIPOHPTTJMWFTUSFTEFGJOJÊOEPMPTBNQMJBNFOUFQBSBJODMVJSMBT
EJGFSFOUFTGPSNBTZBTQFDUPT
&T JOUFSFTBOUF DPNQBSBS FTUPT UÊSNJOPT VUJMJ[BEPT FO PUSPT JEJPNBT &O JUBMJBOP MPT IPOHPT
TJMWFTUSFT TPO MMBNBEPT GVOHIJ DPNNFTUJCJMJ IPOHPT DPNFTUJCMFT
Z OP FYJTUF VOB QBMBCSB RVF
DPSSFTQPOEBBMBUSBEVDDJÓOEFiTFUBu&OJOHMÊTTFVTBiXJMEFEJCMFGVOHVTuQMGVOHJQSPOVODJBEP
HFOFSBMNFOUFDPOVOBiHuGVFSUF
i.VTISPPNTuUJFOFVOTJHOJGJDBEPTJNJMBSBiTFUBTuQFSPOPJOEJDB
RVFFTUBFTQFDJFQBSUJDVMBSEFIPOHPTTFBDPNFTUJCMF&OFMEJBMFDUP$IFXBEF.BMBXJCPXBEFTDSJCF
VOIPOHPDPNFTUJCMFVOBUFSNJOPMPHÎBRVFUJFOFFOQSÃDUJDBFMNJTNPTJHOJGJDBEPEFiIPOHPTJMWFTUSF
DPNFTUJCMFu
-PT )4$ MF BHSFHBO TBCPS B MPT BMJNFOUPT CÃTJDPT JOTÎQJEPT QFSP TPO UBNCJÊO VO
BMJNFOUP OVUSJUJWP -PT OPNCSFT MPDBMFT EF MPT IPOHPT 5FSNJUPNZDFT *MVTUSBDJÓO SFGMFKBO MBT DSFFODJBT MPDBMFT EF RVF ÊTUPT TPO VO TVTUJUVUP FGFDUJWP EF MB DBSOF VOB
DSFFODJB DPOGJSNBEB QPS MPT BOÃMJTJT OVUSJDJPOBMFT /P UPEPT MPT IPOHPT TJMWFTUSFT
DPOUJFOFOFTUBHSBODBOUJEBEEFQSPUFÎOBTQFSPTVWBMPSOVUSJUJWPQVFEFTFSDPNQBSBEP
DPOFMEFNVDIBTFTQFDJFTWFHFUBMFT
"EFNÃTEFQSPQPSDJPOBSVODPNQMFNFOUPTVTUBODJBMBMBTEJFUBTEFMBTQPCMBDJPOFT
QPCSFT EF MPT QBÎTFT FO EFTBSSPMMP TPO VOB GVFOUF JNQPSUBOUF EF JOHSFTPT -PT )4$
TFWFOEFOFONVDIPTNFSDBEPTMPDBMFTZTVSFDPMFDDJÓODPNFSDJBMIBQSPQPSDJPOBEP
OVFWBTGVFOUFTEFJOHSFTPTFDPOÓNJDPTQBSBNVDIBTQPCMBDJPOFTSVSBMFT-BTEFNBOEBT
EFIPOHPTTJMWFTUSFTTFMFDDJPOBEPTQPSQBSUFEF&VSPQBZ+BQÓOTJHVFOSFQSFTFOUBOEP
HSBOEFT JOHSFTPT FDPOÓNJDPT QBSB QBÎTFT DPNP #IVUÃO MB 3FQÙCMJDB 1PQVMBS
%FNPDSÃUJDBEF$PSFBZ1BLJTUÃO
-PTIPOHPTTJMWFTUSFTUJFOFOUBNCJÊOQSPQJFEBEFTNFEJDJOBMFTBMHVOBTEFMBTDVBMFT
TF FODVFOUSBO FO MBT FTQFDJFT DPNFTUJCMFT $VBESP -PT IPOHPT TJMWFTUSFT ÙUJMFT
)46
QPSMPUBOUPDPOUSJCVZFOBMBEJFUBBMPTJOHSFTPTFDPOÓNJDPTZBMBTBMVEEF
MBHFOUF.VDIBTFTQFDJFTUJFOFOUBNCJÊOVOQBQFMFDPMÓHJDPGVOEBNFOUBMBUSBWÊTEF
MBSFMBDJÓOTJNCJÓUJDBNJDPSSJ[B
RVFGPSNBODPOMPTÃSCPMFT-BTUSVGBTZPUSPT)4$
JNQPSUBOUFTEFQFOEFOEFMPTÃSCPMFTQBSBTVDSFDJNJFOUPZOPQVFEFOTFSDVMUJWBEPT
BSUJGJDJBMNFOUF -BT NJDPSSJ[BT QFSNJUFO RVF MPT ÃSCPMFT DSF[DBO FO UFSSFOPT QPCSFT
FO TVTUBODJBT OVUSJUJWBT -PT CPTRVFT EF NJPNCP EF ¦GSJDB DFOUSBM Z NFSJEJPOBM OP
FYJTUJSÎBOTJOMBBZVEBEFMPTIPOHPT
-B JNQPSUBODJB EF MPT )4$ TJHVF DSFDJFOEP QPS NVDIBT SB[POFT GVOEBNFOUBMFT
-B QSPIJCJDJÓO EF MB UBMB FO NVDIPT QBÎTFT IB SFOPWBEP FM JOUFSÊT QPS MPT 1'/.
*OUSPEVDDJÓOTFOUBSMBTCBTFT
DPNPVOBGVFOUFBMUFSOBUJWBEFJOHSFTPTZEFUSBCBKPQBSBMBHFOUFRVFBOUFSJPSNFOUF
USBCBKBCBFOMBTJMWJDVMUVSB-PT)4$IBOUFOJEPVOQBQFMQSFQPOEFSBOUFFOMBDSFBDJÓO
EFOVFWBTGVFOUFTEFJOHSFTPTFO$IJOBZ&TUBEPT6OJEPT1BSBNÃTJOGPSNBDJÓOWFB
MPT$BQÎUVMPTZ
&OTÎOUFTJTMPT)4$TPOJNQPSUBOUFTQPSUSFTSB[POFTQSJODJQBMFT
x 4POGVFOUFTEFBMJNFOUBDJÓONÃTMPTCFOFGJDJPTBMBTBMVE
x 4POGVFOUFTEFJOHSFTPT
x .BOUJFOFOMBTBMVEEFMPTCPTRVFT
53"%*$*0/&4&)*4503*"%&-640
-BFUOPNJDPMPHÎBFTFMFTUVEJPEFMBHFOUFZEFMPTIPOHPTZFTVOBNBUFSJBEFJOUFSÊT
BDBEÊNJDPSFDJFOUF4VTPSÎHFOFTTFSFNPOUBOBVOBEFMBTQVCMJDBDJPOFTNÃTGBNPTBT
UJUVMBEB.VTISPPNT3VTTJBBOEIJTUPSZ8BTTPOZ8BTTPO
&TUBPCSBQVCMJDBEB
EF GPSNB QSJWBEB FT SJRVÎTJNB FO JOGPSNBDJÓO TPCSF MB DVMUVSB Z MB IJTUPSJB EF MPT
IPOHPTTJMWFTUSFT4JCJFOMBFUOPNJDPMPHÎBFNQF[ÓDPOVODMBSPJOUFSÊTQPSMPT)4$FO
TVEFTBSSPMMPTVCTJHVJFOUFIBEFNPTUSBEPVOGVFSUFJOUFSÊTQPSMPTIPOHPTBMVDJOÓHFOPT
ZQPSTVJNQPSUBODJBDVMUVSBM4DIVMUFT8BTTPO
"VORVFÊTUBTJHVFTJFOEP
VOB NBUFSJB EF JOUFSÊT DPNQSFOTJCMF MPT SFGMFDUPSFT IBO WVFMUP B BMVNCSBS IBDJB MPT
)4$ %VSBOUF MPT ÙMUJNPT WFJOUFUSFJOUB BÒPT MPT JOWFTUJHBEPSFT IBO JODSFNFOUBEP
TVTUBODJBMNFOUF OVFTUSP DPOPDJNJFOUP TPCSF MBT USBEJDJPOFT MPDBMFT EF ¦GSJDB "TJB Z
.FTPBNÊSJDB.ÊYJDPZ(VBUFNBMB
6OB QSJNFSB EJTUJODJÓO BCPSEB MPT DPODFQUPT EF NJDPGJMJB Z NJDPGPCJB &O MBT
TPDJFEBEFT P DVMUVSBT NJDPGÎMJDBT MPT IPOHPT TPO NVZ BQSFDJBEPT Z FYJTUF VOB GVFSUF
USBEJDJÓO EF VTP QPQVMBS -BT DVMUVSBT NJDPGÓCJDBT UJFOFO VOB FTUJNB NFOPS QPS MPT
IPOHPTZHFOFSBMNFOUFMPTWFODPODJFSUPSFDFMP8BTTPOZ8BTTPO
&MSFHJTUSP
DPMPOJBMCSJUÃOJDPFO¦GSJDBDPOUJFOFQPDBJOGPSNBDJÓOBDFSDBEFMVTPMPDBMEFMPT)4$
BQFTBSEFRVFMBQPCMBDJÓOFOUPEB¦GSJDBNFSJEJPOBMMPTIBDPOTVNJEPEVSBOUFTJHMPT
.PSSJT1JFBSDF
-BIJTUPSJBEFMVTPEFMPT)4$IBTJEPCJFOEPDVNFOUBEBFO$IJOBBVORVFNVDIB
EFFTUBJOGPSNBDJÓOFTUÃUPEBWÎBFODIJOP*MVTUSBDJÓO
$IJOBFTVOFKFNQMPEFQBÎT
NJDPGÎMJDPNJFOUSBTFM3FJOP6OJEPFTDMBTJGJDBEPHFOFSBMNFOUFDPNPNJDPGÓCJDP4JO
FNCBSHP FTUBT EJTUJODJPOFT TF FTUÃO WPMWJFOEP NFOPT DMBSBT Z TJ CJFO FYJTUF UPEBWÎB
VOBEÊCJMUSBEJDJÓOEFSFDPMFDDJÓOFOFMOPSUFEF&VSPQBFOHFOFSBMDBEBWF[NÃTHFOUF
SFDPMFDUBNFOPTBMJNFOUPTEFMPTCPTRVFTTPCSFUPEPQPSSB[POFTDPNFSDJBMFT%ZLF
Z/FXUPO
SB[ÓOQPSMBDVBMMPTJONJHSBOUFTEFQBÎTFTNJDPGÎMJDPTUBNCJÊOIBO
DBNCJBEPTVTBDUJUVEFT&O&TUBEPT6OJEPTQPSFKFNQMPIBZVOHSVQPFOFYQBOTJÓO
EF HFOUF RVF SFDPMFDUB )4$ -BT USBEJDJPOFT DBNCJBO EF QBÎT FO QBÎT MBT SFHJPOFT
DFOUSBMFT Z NFSJEJPOBMFT EF *UBMJB TPO GVFSUFNFOUF NJDPGÎMJDBT QFSP MB USBEJDJÓO EF
SFDPMFDDJÓO Z DPOTVNP EF )4$ FT NFOPT NBSDBEB FO FM TVS EFM QBÎT $BUBMVÒB UJFOF
NBZPS JOUFSÊT FO MPT )4$ DPNQBSBEB DPO MBT EFNÃT SFHJPOFT FTQBÒPMBT 5SBEJDJPOFT
WBSJBCMFTFYJTUFOUBNCJÊOFOMB3FQÙCMJDB6OJEBEF5BO[BOJB)ÅSLÕOFO4BBSJNÅLJZ
.XBTVNCJ
'JOMBOEJB SFQSFTFOUB VO QVOUP EF FODVFOUSP EF USBEJDJPOFT NVZ JOUFSFTBOUFT MB
JOGMVFODJBIJTUÓSJDBEFMBDVMUVSBTVFDBIJ[PNVZQPDPQBSBQSPNPWFSFMJOUFSÊTMPDBMBM
PFTUFEFMQBÎTQFSPBMFTUFMBQPCMBDJÓOEF,BSFMJBRVFMMFHÓEFTEFMB'FEFSBDJÓOEF3VTJB
QBSBFTUBCMFDFSTFMMFWÓUSBEJDJPOFTNÃTGVFSUFTEFBGJDJÓOBMPT)4$)ÅSLÕOFO
-PT
SVTPTTPOGBNPTPTQPSTVBGJDJÓOHFOFSBMQFSPOPVOJWFSTBM
QPSMPTIPOHPTZEVSBOUF
MPTGJOFTEFTFNBOBTFNVFWFOFOHSBOEFTDBOUJEBEFTIBDJBMPTCPTRVFTFOCVTDBTEF
FTUFBQSFDJBEPBMJNFOUP'JMJQPW
-PTFTUPOJBOPTUJFOFOVOEJDIPRVFEFTDSJCF
FTUB QBTJÓO SVTB iEPOEF OBDF VO IPOHP IBZ VO SVTP FTQFSÃOEPMPu &O MB ,BSFMJB
GJOMBOEFTBTFBDPTUVNCSBCBEFDJSiHSJUBOEPDPNPSVTPTFO<VO>CPTRVFEFIPOHPTu
*OGPSNBDJÓOQSPQPSDJPOBEBQPS.BSJB)ÅSLÕOFO
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
3&$6"%30
1FSTQFDUJWBTEFVOQBÎTFOEFTBSSPMMP
-BNBZPSQBSUFEFMBJOGPSNBDJÓOCJPMÓHJDBZFDPMÓHJDBTPCSFMPTNBDSPNJDFUPTDPNFTUJCMFTTFCBTB
FOMBTJOWFTUJHBDJPOFTFGFDUVBEBTFOMPTQBÎTFTEFTBSSPMMBEPT-BMJUFSBUVSBTFPSJFOUBGVOEBNFOUBMNFOUF
IBDJBMBQFSDFQDJÓOEFMWBMPSZEFMBVUJMJEBEEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTFOFMi/PSUFuEFM
NVOEP"RVÎTFIBDFFOPSNFIJODBQJÊFOMBTFTQFDJFTBQFUFDJCMFTUBMFTDPNPMBTUSVGBTTQ5VCFS
MPTSFCP[VFMPTTQQ$BOUIBSFMMVT
ZMPTEJGFSFOUFTCPMFUPTFOUSFMPTDVBMFTFM#PMFUVTFEVMJTFTFMNÃT
DPOPDJEP
4FDPOPDFQPDPBÙOEFTEFFMQVOUPEFWJTUBCJPMÓHJDPTPDJBMPFDPOÓNJDPQPSFKFNQMP
TPCSFMBTNVDIBTFTQFDJFTEF-BDUBSJVTP3VTTVMBTRVFTFDPOTVNFOFO¦GSJDB
-PT CFOFGJDJPT FDPOÓNJDPT QSPEVDJEPT QPS MPT )4$ TPO VOB GVFOUF JNQPSUBOUF EF JOHSFTPT
FDPOÓNJDPT QBSB MBT DPNVOJEBEFT SVSBMFT FTQFDJBMNFOUF FO MPT QBÎTFT FO EFTBSSPMMP &O ¦GSJDB
$FOUSBM Z EFM 4VS MPT )4$ TPO VOB GVFOUF JNQPSUBOUF EF OVUSJDJÓO BM JHVBM RVF FO BMHVOBT ÃSFBT
SVSBMFTEF$IJOB*OEJBZ.ÊYJDP&O&VSPQBMPT)4$TPOVOBFTQFDJBMJEBEBMJNFOUJDJBVOBSUÎDVMP
QBSBHBTUSÓOPNPTQBSBTBCPSFBSDPOQPDBGSFDVFODJBmTPCSFUPEPQPSMPTBMUPTQSFDJPTEFNBOEBEPTm
­TUPT TF QVFEFO DPOWFSUJS FO CVFOPT JOHSFTPT FDPOÓNJDPT QBSB MPT NFOPT BEJOFSBEPT EF MBT [POBT
SVSBMFTEF&TQBÒBF*UBMJB1FSPMBJNQPSUBODJBGVOEBNFOUBMEFMPT)4$QBSBUBMFTTPDJFEBEFTZQBSB
FMQPUFODJBMEFDSFDJNJFOUPEFTVTJOHSFTPTFDPOÓNJDPTFTQPDBDPNQBSBEBDPOMPTVTPTMPDBMFTZDPO
MPTNFSDBEPTFOMPTQBÎTFTFOEFTBSSPMMP
&TUB QVCMJDBDJÓO TF DPODFOUSB FO MB BERVJTJDJÓO EF NFKPSFT DPOPDJNJFOUPT TPCSF MPT )4$ FO
MPT QBÎTFT FO EFTBSSPMMP TJO EFKBS B VO MBEP MBT JOWFTUJHBDJPOFT F JOGPSNBDJPOFT QVCMJDBEBT QPS FM
/PSUF-BTFYQFSJFODJBTFOFM1BDÎGJDPOPSPFTUFEF/PSUFBNÊSJDBIBOTJEPBNQMJBNFOUFDJUBEBTDPNP
DPOTFDVFODJBEFVOBHSBOFYQBOTJÓOEFMBTBDUJWJEBEFTRVFUJFOFORVFWFSDPOMPT1'/.BMEJTNJOVJS
MBTJOEVTUSJBTGPSFTUBMFTUSBEJDJPOBMFTZBMFODPOUSBSMBTDPNVOJEBEFTSVSBMFTFTUBTOVFWBTGVFOUFTEF
CFOFGJDJP FDPOÓNJDP 'JOMBOEJB IB QSPNPWJEP BNQMJBNFOUF VO VTP NÃT FYUFOTJWP EF MPT )4$ BM JS
FNFSHJFOEPEFMBTEJGJDVMUBEFTFDPOÓNJDBTZNJFOUSBTMBTEFNBOEBTEFNBUTVUBLFTTQQ5SJDIPMPNB
QPSQBSUFEF+BQÓOIBOJEPBERVJSJFOEPNBZPSJNQPSUBODJBQBSBMPTQBÎTFTFOEFTBSSPMMPUBMFTDPNP
$IJOBMB3FQÙCMJDB1PQVMBS%FNPDSÃUJDBEF$PSFBFJODMVTP#IVUÃO
&TUPTFKFNQMPTPGSFDFOBNQMJBTBQSFDJBDJPOFTTPCSFMBDBOUJEBEEFBTQFDUPTEJGFSFOUFTEFMPT)4$
EFTEF MB HFTUJÓO EF MPT SFDVSTPT OBUVSBMFT IBTUB MBT QSÃDUJDBT EF SFDPMFDDJÓO 4JO FNCBSHP OP FT FM
PCKFUJWPEFFTUBQVCMJDBDJÓOIBDFSVOSFTVNFOFYIBVTUJWPTPCSFFMVTPEFMPT)4$FOFM4VSZFOFM
/PSUF/PRVFSFNPTEFDJSDPOFTUPRVFMBTSFDPMFDDJPOFTEFUSVGBTFO*UBMJBP'SBODJBPEFOÎTDBMPT
-BDUBSJVTEFMJDJPTVT
FO&TQBÒBOPUJFOFOJNQPSUBODJBFDPOÓNJDBQBSBTVTQPCMBDJPOFTEF3PNÃO
DPNVOJDBDJÓOQFSTPOBM5SBEFJOOÎTDBMPTGSPN/PSUI4QBJOUP$BUBMPOJBBOEUSVGGMFQSPEVDUJPO
TJOP
RVFTPONFOPTJNQPSUBOUFTDPNPGVFOUFTEFJOHSFTPTDPNQBSBEBTDPOMBTNJTNBTFONVDIPTQBÎTFT
FOEFTBSSPMMP
-BUSBEJDJÓONJDPGÎMJDBMBUJOPBNFSJDBOBTFSFTUSJOHFDBTJFYDMVTJWBNFOUFB.ÊYJDPWÊBTF
SFTFÒBEF7JMMBSSFBMZ1ÊSF[.PSFOP
BMB[POBTVSEF(VBUFNBMBZCSFWFNFOUFFO
)POEVSBT)PVTFDPNVOJDBDJÓOQFSTPOBM8JMEFEJCMFGVOHJJO)POEVSBT
EPOEF
TF JOUFSSVNQF CSVTDBNFOUF B QFTBS EF MB BNQMJB TFDVFODJB EF CPTRVFT DPOÎGFSPT Z EF
PUSPT ÃSCPMFT DPO IPOHPT NJDPSSÎ[JDPT DPNFTUJCMFT )BZ QPDB FWJEFODJB EF MBT GVFSUFT
USBEJDJPOFTTVEBNFSJDBOBTBVORVFMPTFTUVEJPTEFMBTQPCMBDJPOFTBVUÓDUPOBTBNB[POBT
1SBODF
SFWFMBOFMDPOTVNPZVTPSFHVMBSFTEF)4$UPEPTFMMPTTBQSÓGJUPT
6O
FTUVEJPQPDPDPOPDJEPEF1BQVB/VFWB(VJOFB4JMMJUPF
SFWFMBVOBJOGPSNBDJÓO
BCVOEBOUFTPCSF)4$EFMDVBMTFEFEVDFVOVTPNÃTBNQMJPFOPUSPTQBÎTFT
-BTQPCMBDJPOFTMPDBMFTSFDIB[BOBMHVOBTFTQFDJFTEFIPOHPTDPNFTUJCMFTMPT#PMFUVT
HFOFSBMNFOUFOPTFDPOTVNFOFOQBSUFTEFMB3FQÙCMJDB6OJEBEF5BO[BOJB)ÅSLÕOFO
6ODVSBJUBMJBOPRVFWJWFFO(VBUFNBMBOPUÓRVFMBQPCMBDJÓOMPDBMJHOPSBCBMPT
#PMFUVTFEVMJTBQFTBSEFRVFFOHFOFSBMHVTUBCBOEF)4$&TUJNVMBEPTQPSÊMUVWJFSPO
MB QPTJCJMJEBE EF QSPCBS VOB FTQFDJF RVF BOUFSJPSNFOUF JHOPSBCBO 'MPSFT *OUSPEVDDJÓOTFOUBSMBTCBTFT
DPNVOJDBDJÓOQFSTPOBM)POHPTTJMWFTUSFTDPNFTUJCMFTFO(VBUFNBMB
4JOFNCBSHPB
QFTBSEFMBHSBOQPQVMBSJEBEFO$IJOBEFMiGBMPIFEJPOEPu1IBMMVTJNQVEJDVT
OPFTUÃ
TVGJDJFOUFNFOUFDMBSPRVFMPTFVSPQFPTMPDPOTVNJFSBO*MVTUSBDJÓO
PUSBTDVMUVSBT
FO DBNCJP TPO UFNFSPTBT QPS JOTUJOUP EF MBT FTQFDJFT "NBOJUBT BMHVOBT EF TBCPS
FYRVJTJUPPUSBTWFOFOPTBT*MVTUSBDJÓO
0#+&5*704:&4536$563"%&&45"16#-*$"$*»/
&TUBQVCMJDBDJÓOPGSFDFJOGPSNBDJÓOTPCSFMBJNQPSUBODJBEFMPT)4$QBSBMBQPCMBDJÓO
*ODMVZFEFUBMMFTEFFTQFDJFTSFDPMFDUBEBTZWFOEJEBTIBDJFOEPÊOGBTJTQBSUJDVMBSNFOUF
FOMPTBTQFDUPTTPDJBMFTZFDPOÓNJDPTQBSBJMVTUSBSMBGPSNBFORVFMPT)4$QPESÎBO
DPOUSJCVJSFOMPTNFEJPTEFWJEBSVSBMFT)BZVOBBNQMJBJOGPSNBDJÓOTPCSFMBCJPMPHÎB
Z DBSBDUFSÎTUJDBT HFOFSBMFT EF MPT NBDSPNJDFUPT NBDSPIPOHPT V IPOHPT TVQFSJPSFT
QFSPTÓMPTFEFCBUFEFUBMMBEBNFOUFDVBOEPTPOJNQPSUBOUFTUBOUPQBSBMBHFOUFDPNP
QBSBFMVTPEFSFDVSTPTOBUVSBMFT
6O PCKFUJWP NÃT BNCJDJPTP EF FTUB QVCMJDBDJÓO FT FM EF JODSFNFOUBS MPT
DPOPDJNJFOUPTTPCSFMPT)4$ZIBDFSÊOGBTJTFOMBSFMBDJÓOFDPMÓHJDBFOUSFMBTFTQFDJFT
QSJODJQBMFT EF )4$ Z MPT CPTRVFT 1SPQPOFNPT TVHFSFODJBT TPCSF MB HFTUJÓO EF MPT
)4$EFGPSNBTPTUFOJCMFUPNBOEPFODVFOUBFMTJOOÙNFSPEFVTPTEFMPTCPTRVFTZ
MPTEFNÃTVTVBSJPTEFCPTRVFT
&O NVDIPT EF MPT EFCBUFT IBDFNPT IJODBQJÊ FO MPT QBÎTFT FO EFTBSSPMMP FM i4VSu
EFM NVOEP
QBSUJDVMBSNFOUF FO FM JOUFOUP EF NFKPSBS MPT CFOFGJDJPT EF MPT )4$ Z
TV QSPEVDDJÓO TPTUFOJCMF 5BNCJÊO QSPQPOFNPT JOGPSNBDJÓO EF FTUVEJPT EF DBTP Z
FYQFSJFODJBTDPO)4$FOMPTQBÎTFTEFTBSSPMMBEPT-BTSB[POFTEFOVFTUSPBOÃMJTJTEFMPT
QBÎTFTFOEFTBSSPMMPTFFYQMJDBONÃTEFUBMMBEBNFOUFFOFM3FDVBESP
&TUBPCSBTFEJWJEFFODJODPDBQÎUVMPTFJODMVZFVOBTFSJFNVZEFUBMMBEBEFDVBESPTZ
BOFYPT&MMFDUPSFTDPOEVDJEPIBDJBMBTGVFOUFTQSJNBSJBTZPUSBTGVFOUFTEFJOGPSNBDJÓO
DPOTDJFOUFT EF RVF MBT DPNVOJDBDJPOFT QFSTPOBMFT DPO MPT BVUPSFT IBO TJEP VO NFEJP
JNQPSUBOUF QBSB BQSFOEFS NÃT TPCSF MPT )4$ (FOFSBMNFOUF FT EJGÎDJM BERVJSJS
QVCMJDBDJPOFTPSJHJOBMFTZGVFOUFTHFOFSBMFTUBMFTDPNPMBTSFWJTUBTEFFYDFMFOUFMJUFSBUVSB
EF3BNNFMPPZ8BMMFZO
Z8BMMFZOZ3BNNFMPP
RVFTFSFDPNJFOEBOQBSB
¦GSJDB TVCTBIBSJBOB &T OFDFTBSJP QPOFS FO NBSDIB QVCMJDBDJPOFT BOÃMPHBT QBSB PUSBT
SFHJPOFT EFM NVOEP JODSFNFOUBOEP MB DPODJFODJB EF VOB BNQMJUVE FYUSBPSEJOBSJB EF
JOGPSNBDJÓOQVCMJDBEBZFTUJNVMBOEPFMJOUFSÊTFOOVFWBTMÎOFBTEFJOWFTUJHBDJÓO
&OFM$BQÎUVMPTFEFTDSJCFOCSFWFNFOUFMBTDBSBDUFSÎTUJDBTEFMPT)4$JODMVZFOEP
BTQFDUPT DMBWFT EF CJPMPHÎB FDPMPHÎB DPNFTUJCJMJEBE Z DVMUJWBDJÓO 4F IBDF ÊOGBTJT
FO MB JOGPSNBDJÓO HFOFSBM Z TF QSFTFOUBO BMHVOPT EFUBMMFT UÊDOJDPT -PT HÊOFSPT NÃT
JNQPSUBOUFT TF EFTDSJCFO FO MPT SFDVBESPT &M OPNCSF DJFOUÎGJDP FO MBUÎO
TF VUJMJ[B
FO UPEP FM MJCSP ZB RVF FYJTUFO QPRVÎTJNPT OPNCSFT WVMHBSFT EF )4$ RVF QVFEBO
TFSDPNQSFOTJCMFTFOMPTJEJPNBTEFWBSJPTQBÎTFT&OUSFMBTFYDFQDJPOFTUFOFNPTMPT
NBUTVUBLFT 5SJDIPMPNB NBUTVUBLF 5 NBHOJWFMBSF Z PUSBT FTQFDJFT
MPT SFCP[VFMPT
TQQ$BOUIBSFMMVT
ZMPTCPMFUPTDPNFTUJCMFT#PMFUVTFEVMJT
&OFM$BQÎUVMPBCPSEBSFNPTMPTBTQFDUPTEFMBPSEFOBDJÓOJODMVZFOEPVOSFTVNFO
TPCSFMPTSFDPMFDUPSFTZMBTSFMBDJPOFTFOUSFMBDVMUJWBDJÓOZMBHFTUJÓOEFMPTCPTRVFT
&TUBTFDDJÓOFYBNJOBBMHVOPTEFMPTUFNBTNÃTJNQPSUBOUFTTPCSFMPTNÙMUJQMFTVTPTEF
MPTCPTRVFTQSPEVDUJWJEBEEFMPT)4$ZBDDFTPBMPTTJUJPTEFSFDPMFDDJÓO
&M EFCBUF JOJDJBEP FO FM DBQÎUVMP QSFDFEFOUF DPOUJOÙB FO FM $BQÎUVMP QPOJFOEP
NBZPSBUFODJÓOFOMBQPCMBDJÓOFOFMDPNFSDJPEFMPT)4$ZFOTVJNQPSUBODJBQBSBMB
EJFUBZOVUSJDJÓO-PTEBUPTTPCSFFMDPNFSDJPNFSDBEFPZDPNFSDJBMJ[BDJÓOTFFYQMPSBO
DPOVOBTFDDJÓOGJOBMRVFSFTVNFCSFWFNFOUFFMVTPEFMPT)4$QPSSFHJÓOZQBÎT
&OFMDBQÎUVMPGJOBM$BQÎUVMP
TFIBDFVOSFDPSSJEPEFTEFFMQSFTFOUFIBDJBFMGVUVSP
FYBNJOBOEPQPTJCJMJEBEFTEFJOJDJBUJWBTGVUVSBTDPOÊOGBTJTFOMPTQBTPTQSÃDUJDPTRVF
QPESÎBOTFSEBEPTQBSBJODSFNFOUBSMPTCFOFGJDJPTBGBWPSEFMBTQPCMBDJPOFTSVSBMFTQPS
NFEJPEFVOBQSPEVDDJÓOTPTUFOJCMFEF)4$ZEFVOBPSEFOBDJÓOGPSFTUBMDPNQFUFOUF
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
%JTDJQMJOBTZÈSFBTEFBDUJWJEBERVFDPOUJFOFOJOGPSNBDJØOTPCSFMPT)46
%*4$*1-*/"0
/05"4
."5&3*"
#JPMPHÓBEF
DBNQPFIJTUPSJB
OBUVSBM
-BTHVÓBTEFDBNQPDPOUJFOFOEFTDSJQDJPOFTEFFTQFDJFTZTFVUJMJ[BOMBTGPUPHSBGÓBTGSFDVFOUFNFOUF
QBSBGJOFTEFJEFOUJGJDBDJØO-BNBZPSQBSUFEFMBTHVÓBTFTQVCMJDBEBFOFM/PSUFZQPSFTPUJFOFOVO
VTPMJNJUBEPFOMPTQBÓTFTFOEFTBSSPMMP"MHVOBTHVÓBTBCBSDBOFTQFDJBMNFOUFMPTIPOHPTDPNFTUJCMFT
-BTQVCMJDBDJPOFTTPCSFIJTUPSJBOBUVSBMIBOQSPQPSDJPOBEPJOGPSNBDJØOTPCSFFMVTPEFMPT)4$QPS
QBSUFEFMBHFOUFBVORVFFTUFHSVQPHFOFSBMNFOUFFTJHOPSBEPPUSBUBEPEFGPSNBGVHB[
$VMUJWBDJØOEF
IPOHPT
)BZVOBBNQMJBMJUFSBUVSBTPCSFMPTIPOHPTDVMUJWBEPT4FEBODPOGFSFODJBTSFHVMBSNFOUFDPOVO
GVFSUFBQPZPDPNFSDJBM)BIBCJEPSFDJFOUFJOUFSÏTQFK.TIJHFOJZ$IBOH
FOMBJOUSPEVDDJØO
EFVOJEBEFTEFQSPEVDDJØOFOQFRVF×BFTDBMBFOMPTQBÓTFTFOEFTBSSPMMPZFOVOBQFRVF×BQFSP
DSFDJFOUFMJUFSBUVSBTPCSFMBHFTUJØOEFMBTÈSFBTOBUVSBMFTQBSBMBQSPEVDDJØOEFNBUTVUBLFTZUSVGBT
'ÏEÏSBUJPO'SBOÎBJTFEFT5SVGGJDVMUFVST
&UOPNJDPMPHÓB
-BFUOPNJDPMPHÓBFTVOÈSFBEFJOWFTUJHBDJØOSFMBUJWBNFOUFOVFWB&OUSFTVTNBUFSJBTTFJODMVZFOMPT
VTPTDVMUVSBMFTDFSFNPOJBMFTZNFEJDJOBMFTEFMPTIPOHPTQPSQBSUFEFMBHFOUF-BFUOPNJDPMPHÓBTF
DPODFOUSBCBPSJHJOBSJBNFOUFFOFMFTUVEJPEFMPTIPOHPTBMVDJOØHFOPTZFOTVJNQPSUBODJBDVMUVSBMZ
MFEFEJDBCBQPDBBUFODJØOBMPTVTPTEFMPT)4$QPSQBSUFEFMBHFOUF
.FSDBEPTZ
DPNFSDJP
-PTEBUPTTPCSFFMWPMVNFOZFMWBMPSEFMPT)4$SFDPMFDUBEPTTPOFTDBTPTJSSFHVMBSFTZHFOFSBMNFOUF
QPDPGJEFEJHOPT-PTDÈMDVMPTHMPCBMFTEFDPNFSDJPQVFEFOBERVJSJSVOBGBMTBDSFEJCJMJEBEBMSFQPSUBS
MBTSFGFSFODJBT"VORVFTFSFDPNJFOEBDVJEBEPDVBOEPTFSFWJTBOMPTEBUPTEFNFSDBEPTFPCTFSWB
VOBNBZPSEPDVNFOUBDJØOFOMPTÞMUJNPTB×PT
.JDPMPHÓB
JODMVZFOEP
NJDPSSJ[BT
&MFTUVEJPEFMPTIPOHPTNJDPMPHÓB
JODMVZFMBCJPMPHÓBNPMFDVMBSCJPRVÓNJDBZNBUFSJBTNVDIP
NÈTUSBEJDJPOBMFTUBMFTDPNPMBFDPMPHÓBZMBUBYPOPNÓB-BJOGPSNBDJØOQVCMJDBEBHFOFSBMNFOUF
DPOUJFOFQPDPTEFUBMMFTTPCSFFMVTPEFMPTIPOHPTQPSQBSUFEFMBQPCMBDJØOQBSUJDVMBSNFOUFTPCSF
MPTBTQFDUPTTPDJBMFTZFDPOØNJDPT-PTFTUVEJPTNJDPSSÓ[JDPTUJFOFOVOJOUFSÏTDPNCJOBEPFOUSF
MPTIPOHPTZQMBOUBT&MFTUVEJPEFMPTIPOHPTFDUPNJDPSSÓ[JDPTDPNFTUJCMFTTØMPSFDJFOUFNFOUFIB
TVSHJEPDPNPTVCEJTDJQMJOBEFVOÈSFBEFFTUVEJPTNÈTBNQMJB
/VUSJDJØO
TBMVEIVNBOB
ZTFHVSJEBE
BMJNFOUBSJB
-BMJUFSBUVSBTPCSFOVUSJDJØOFTTPSQSFOEFOUFNFOUFWBTUBBQFTBSEFRVFMPTFOGPRVFTBOBMÓUJDPT
WBSÓBOZMBDPNQBSBDJØOEFSFTVMUBEPTFTEJGÓDJM.VDIPTBOÈMJTJTTFIBODPODFOUSBEPFOMBTFTQFDJFT
DVMUJWBEBTDPOTØMPQPDPT)4$JODMVJEPT)BIBCJEPVOBHSBOFYQBOTJØOEFJOWFTUJHBDJØODJFOUÓGJDB
TPCSFMPTIPOHPTDVMUJWBEPTNFEJDJOBMFTZMPTVTBEPTDPNPTVQMFNFOUPTEJFUÏUJDPTZiOVUSJDFVUJDBMTw
QFSPFTUPFTEFJNQPSUBODJBMJNJUBEBFOMBTJOJDJBUJWBTQBSBFMEFTBSSPMMP)BZQPDPTFTUVEJPTRVF
IBODPOTJEFSBEPMPT)4$FOFMDPOUFYUPEFMBTFHVSJEBEBMJNFOUBSJBBVORVFFTUFBSHVNFOUPNFSFDF
NBZPSBUFODJØO
1SPEVDUPT
GPSFTUBMFT
NBEFSFSPTZOP
NBEFSFSPT
-PT)4$BQBSFDFOSFHVMBSNFOUFFOMPTFTUVEJPTTPCSFMPT1'/.QFSPHFOFSBMNFOUFOPTFNFODJPOBO
MBTFTQFDJFTJOEJWJEVBMFTBVORVFZBIBZBOTJEPJEFOUJGJDBEBT
)BDSFDJEPVOJOUFSÏTFTQFDÓGJDPZ
EFUBMMBEPDPNPSFTVMUBEPEFMBTBDUJWJEBEFTEFM1BDÓGJDPOPSPFTUFEF&TUBEPT6OJEPTZ$BOBEÈZPUSPT
MVHBSFT-PTFTUVEJPTHFOFSBMFTTPCSFMPT1'/.TPOTJFNQSFVOBEFDFQDJPOBOUFGVFOUFEFJOGPSNBDJØO
TPCSFMPT)4$
&TUBQVCMJDBDJÓOEFTDSJCFMPTMÎNJUFTZBDPOPDJEPTFOFMVTPTPTUFOJCMFEFMPT)4$6O
SFTQPOTBCMFEFPSEFOBDJÓOGPSFTUBMEFMBSFHJÓOPDDJEFOUBMEFMB$IJOBTFEFTFTQFSBCB
JOEVDJFOEPBMPTSFDPMFDUPSFTBBEPQUBSQSÃDUJDBTEFSFDPMFDDJÓONFOPTEFTUSVDUJWBTQBSB
VOIPOHPFYRVJTJUPDPOPDJEPDPNPNBUTVUBLF8JOLMFS
5BMFTQSÃDUJDBTQVFEFO
TFSSFEVDJEBTZTFQVFEFOFGFDUVBSDBNCJPTQFSPTÓMPTJMBTBDDJPOFTFNQSFOEJEBTTF
CBTBOFOVOBTÓMJEBDPODFQDJÓOEFMPRVFMBHFOUFIBDFZEFMQPSRVÊMPIBDF
-"4'6&/5&4%&*/'03."$*»/
)FNPT SFDPQJMBEP JOGPSNBDJÓO TPCSF MBT BDUJWJEBEFT EF QBÎTFT MB NBZPS QBSUF
EF FMMPT FO EFTBSSPMMP 3FDVBESP -B JOGPSNBDJÓO QVCMJDBEB Z EJTQPOJCMF DBNCJB
FOPSNFNFOUFFOUÊSNJOPTEFDBOUJEBE$VBESP
EFUBMMFTZQSFDJTJÓOZIBSFRVFSJEP
VOFYBNFODVJEBEPTP)BZNVDIBTQVCMJDBDJPOFTTPCSFNJDPMPHÎBQPSFKFNQMPRVF
FOVNFSBOFTQFDJFTiDPNFTUJCMFTuQFSPOPEJDFOOBEBTPCSFTVVTPMPDBM-PTJOGPSNFT
HFOFSBMFTTPCSFMPT1'/.IBCMBOEFMPTiIPOHPTuTJOFTQFDJGJDBSTVTUJQPT
4FDPOTVMUBSPONÃTEFGVFOUFTEFJOGPSNBDJÓOEPDVNFOUPTMJCSPTBSUÎDVMPTEF
QFSJÓEJDPTDPNVOJDBDJPOFTQFSTPOBMFTTJUJPTXFCNJTDFMÃOFBTZPUSBT-BJOGPSNBDJÓO
TPCSF MPT )4$ FTUÃ FTQBSDJEB FOUSF MBT EJGFSFOUFT EJTDJQMJOBT $VBESP $BEB VOB EF
FTUBTEJTDJQMJOBTSFQSFTFOUBVOHSVQPEJGFSFOUFEFJOUFSFTFTQFSPUJFOFUBNCJÊOVOQVOUP
EFJOUFSSFMBDJÓO&TUBFTMBQSJNFSBWF[RVFTFSFBMJ[BVOBNQMJPSFTVNFOTPCSFMPT)4$
ZUPEBWÎBIBZTJOEVEBTNVDIPRVFBQSFOEFSQBSUJDVMBSNFOUFEFMBTMJUFSBUVSBTSVTBZ
DIJOB-BJOGPSNBDJÓOTPCSFMPT)4$FOMB'FEFSBDJÓOEF3VTJBFTEJTQPOJCMFTÓMPHSBDJBT
B VOB USBEVDDJÓO IFDIB QPS 4FPOB "OEFSTPO EF VO UFYUP JNQPSUBOUÎTJNP 7BTJMFWB
$BSBDUFSÓTUJDBTCJPMPHÓBFDPMPHÓB
VTPTDVMUJWBDJØO
-BNJDPMPHÎBFTFMFTUVEJPEFMPTIPOHPTZMPTNJDÓMPHPTTPOMBTQFSTPOBTRVFMMFWBO
B DBCP FTUPT FTUVEJPT -PT OVFWPT NÊUPEPT EF JOWFTUJHBDJÓO IBO JODSFNFOUBEP
TVTUBODJBMNFOUF MPT DPOPDJNJFOUPT TPCSF MB OBUVSBMF[B GVOEBNFOUBM EF MPT IPOHPT
CBTÃOEPTF NVDIPT EF FTUPT FTUVEJPT FO MPT IPOHPT RVF DBVTBO FOGFSNFEBEFT B
MBT QMBOUBT -BT JOWFTUJHBDJPOFT TPCSF MPT IPOHPT DPNFTUJCMFT TF IBO DPODFOUSBEP
FO VO QFRVFÒP HSVQP EF FTQFDJFT DVMUJWBEBT DPNFSDJBMNFOUF -PT )4$ IBO TJEP
JHOPSBEPTSFMBUJWBNFOUFQPSMBDJFODJBIBTUBUJFNQPTSFDJFOUFTBVORVFMPTNJDÓMPHPT
BGJDJPOBEPTEPDVNFOUBSPOBNFOVEPMBTFTQFDJFTFODPOUSBEBTFOFMDBNQPEFFTUVEJPT
QSJODJQBMNFOUFFO&VSPQBPFOQBÎTFTFOMPTDVBMFTTFIBOFTUBCMFDJEPMPTFVSPQFPT
4JFNQSFIBIBCJEPTJOFNCBSHPNVDIPJOUFSÊTQPSVOQFRVFÒPHSVQPEF)4$RVF
OP QVFEFO TFS DVMUJWBEPT &OUSF ÊTUPT UFOFNPT MBT USVGBT TQ 5VCFS
MPT NBUTVUBLFT
TQ5SJDIPMPNB
MPTCPMFUPTPDÍQFT#PMFUVTFEVMJT
4VCJPMPHÎBZFDPMPHÎBIBOTJEP
FTUVEJBEBTEFUBMMBEBNFOUFVODBNCJPEFUFOEFODJBFWJEFOUFDPOSFGFSFODJBBMBTNVDIBT
PUSBTFTQFDJFTEF)4$VUJMJ[BEBTFOFMNVOEP
-BDPOTFDVFODJBEFFTUBTJUVBDJÓOFTRVFMBTFTQFDJFTTJMWFTUSFTDPNFTUJCMFTVUJMJ[BEBT
FOMPTQBÎTFTFOEFTBSSPMMPTPOQPDPDPOPDJEBT%JTQPOFNPTEFJOGPSNBDJÓOTPCSFMPT
FTUVEJPTEFGBNJMJBTDFSDBOBTFOMBTSFHJPOFTUFNQMBEBT-PTMBDUBSJPTZMBTSVTTVMBTQPS
FKFNQMPTFSFQSPEVDFOFOUPEPFMNVOEPZFMDPOPDJNJFOUPEFMBTFTQFDJFTFVSPQFBT
QVFEFTFSBQMJDBEPBMBTFTQFDJFTBGSJDBOBTDPODJFSUBDBVUFMBZBEWFSUFODJBT&MQSPCMFNB
QSJODJQBMFTFMSFDPOPDJNJFOUPZMBBTJHOBDJÓOEFVOOPNCSFBMBTFTQFDJFT-PTDPODFQUPT
EFOPNCSFTHFOÊSJDPTZFTQFDÎGJDPTTFCBTBOPSJHJOBSJBNFOUFFOVONBSDPEFEJWFSTJEBE
SFEVDJEPFODPOUSBEPFOMBTSFHJPOFTUFNQMBEBTZQPESÎBOOFDFTJUBSVOBSFFWBMVBDJÓOFO
MBNFEJEBFORVFMBTFTQFDJFTUSPQJDBMFTTFWVFMWFONÃTDPOPDJEBT
&OFTUFDBQÎUVMPIBDFNPTVOBCSFWFJOUSPEVDDJÓOBMPTIPOHPTNÃTHSBOEFTFTEFDJS
MPT NBDSPNJDFUPT DPO FTQFDJBM SFGFSFODJB B MPT DPNFTUJCMFT &O DBTPT EF BMUFSOBUJWBT
NÃTTFODJMMBTIBTJEPFWJUBEPFMVTPEFMBUFSNJOPMPHÎBDJFOUÎGJDB-BTHVÎBTEFDBNQP
DPOUJFOFO HMPTBSJPT ÙUJMFT Z IBZ VO OÙNFSP DSFDJFOUF EF TJUJPT XFC RVF BZVEBO B
DPNQSFOEFS MB UFSNJOPMPHÎB UÊDOJDB $BQÎUVMP &M %JDDJPOBSJP EF MPT IPOHPT FT
BDUVBMJ[BEP GSFDVFOUFNFOUF DPO EFUBMMFT TPCSF UPEPT MPT HÊOFSPT EF IPOHPT Z PUSBT
JOGPSNBDJPOFTTPCSFMBNJDPMPHÎB,JSLFUBM
{26²40/-04)0/(04
-PT IPOHPT TPO VO HSVQP EJGFSFOUF EF PSHBOJTNPT NÃT FNQBSFOUBEPT DPO MPT
BOJNBMFTRVFDPOMBTQMBOUBT#BTÃOEPOPTFOVODPOPDJNJFOUPQSFDJTPEFTVFTUSVDUVSB
CJPRVÎNJDBZHFOÊUJDBDPOTUJUVJEPFTQFDJBMNFOUFFOMPTÙMUJNPTUSFJOUBBÒPTMPTIPOHPT
TFEJWJEFOBDUVBMNFOUFFOUSFTSFJOPTTFQBSBEPTZEJTUJOUPT&TFSSÓOFPZQPESÎBTFSNBM
JOUFSQSFUBEPSFGFSJSTFBMPTIPOHPTDPNPiQMBOUBTTJODMPSPGJMBu'"0B
"QFTBSEFMBTEJGFSFODJBTGVOEBNFOUBMFTMPTIPOHPTTPODMBTJGJDBEPTHFOFSBMNFOUF
DPNPQMBOUBT-BDPNQSFOTJÓOEFMTUBUVTUBYPOÓNJDPEFMPTIPOHPTUJFOFBQBSFOUFNFOUF
QPDBJNQPSUBODJBQBSBMBHFOUFRVFSFDPMFDUBZWFOEFMPT)4$QFSPFTEFJNQPSUBODJB
DSVDJBM QBSB FM FTUBCMFDJNJFOUP EF VO TJTUFNB EF DMBTJGJDBDJÓO TFHVSP Z FGJDB[ &TUP
HBSBOUJ[B RVF DVBOEP EPT QFSTPOBT VUJMJ[BO FM NJTNP OPNCSF EF VOB FTQFDJF TBCFO
RVFFTUÃOIBCMBOEPEFMNJTNPIPOHPDPNFTUJCMF
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
-BDMBTJGJDBDJÓOEFMPTIPOHPTFOFMSFJOPWFHFUBMQSFTFOUBDPOTFDVFODJBTQSÃDUJDBT
JOWPMVOUBSJBT /P SFTVMUB TJFNQSF DMBSP TJ FO MPT FTUVEJPT FUOPCPUÃOJDPT TF JODMVZF
B MPT IPOHPT TJMWFTUSFT DPNP FO FM DBTP EF VO FTUVEJP EF 5VSRVÎB &SUSVH i&UOPNJDPMPHÎBu FT FM UÊSNJOP DPSSFDUP RVF JOEJDB RVF TF FTUÃ IBCMBOEP EF IPOHPT
BTÎDPNPiGMPSBuJOEJDBRVFFTUBNPTIBCMBOEPEFQMBOUBT&MUÊSNJOPFRVJWBMFOUFQBSB
MPTIPOHPTFTiNJDPUBu-BUFSNJOPMPHÎBRVFTFSFGJFSFBMPTIPOHPTQPESÎBQBSFDFSOPT
QPDP GBNJMJBS QFSP TV VTP OPT BZVEB B JEFOUJGJDBS EF GPSNB DMBSB MB JOGPSNBDJÓO
QVCMJDBEBTPCSFMPT)4$RVFEFOPTFSBTÎQPESÎBQFSEFSTFPJHOPSBSTF
&TUSVDUVSBZBMJNFOUBDJØO
-PT IPOHPT UJFOFO EJWFSTBT GPSNBT UBNBÒPT Z DPMPSFT *MVTUSBDJÓO .BDSPNJDFUPT
FTVOBDBUFHPSÎBHFOFSBMVTBEBQBSBMBTFTQFDJFTRVFUJFOFOVOBFTUSVDUVSBRVFTFQVFEF
PCTFSWBS B TJNQMF WJTUB Z RVF QSPEVDF FTQPSBT UBMFT DPNP MBT TFUBT P MBT USVGBT /PT
SFGFSJNPT HFOFSBMNFOUF B FTUBT FTUSVDUVSBT WJTJCMFT DPNP iDBSQÓGPSPTu P iDVFSQPT
GSVDUÎGFSPTuFTEFDJSiQPSUBEPSFTEFMGSVUPu
-PTIPOHPTTFQSFTFOUBODPNPVOUFKJEPEFGJMBNFOUPTRVFFOTVDPOKVOUPGPSNBO
VO NJDFMJP DPNP QPS FKFNQMP FO MB QBSUF FONPIFDJEB EF VO QFEB[P EF GSVUB P EF
QBO &M TPNCSFSP EF VO IPOHP P EF VO HSVQP EF IPOHPT DPOTJTUF UBNCJÊO FO VOB
TFSJF EF GJMBNFOUPT EFOTBNFOUF BHSVQBEPT QBSB GPSNBS FM DBSQÓGPSP -PT GJMBNFOUPT
FTQFDJBMJ[BEPTQSPEVDFOFTQPSBTRVFTFEJGVOEFOEFVOBHSBOWBSJFEBEEFNBOFSBT&TUBT
FTQPSBTQVFEFOTFSPCTFSWBEBTFOHSBOEFTDBOUJEBEFTQPOJFOEPFMTPNCSFSPEFVOIPOHP
TPCSFVOBIPKBEFQBQFMCMBODPZDVCSJÊOEPMPDPOVOWBTP*MVTUSBDJÓO
&MDPMPSGPSNB
ZNPEPFOMPTDVBMFTMBTFTQPSBTTFEFTBSSPMMBOBZVEBOBJEFOUJGJDBSFMIPOHP
-PT )4$ HFOFSBMNFOUF TPO DPOPDJEPT DPNP iTFUBTu TJMWFTUSFT DPNFTUJCMFT &TUP
QVFEF DBVTBS DPOGVTJPOFT QPS VO CVFO OÙNFSP EF SB[POFT MBT FTQFDJFT DPNFTUJCMFT
UJFOFO GPSNBT EJGFSFOUFT BMHVOBT DPO BOJMMPT QFMMFKJUP CBKP FM TPNCSFSP
Z PUSBT DPO
QPSPTBMHVOBTDPOUBMMPTPUSBTOP*MVTUSBDJÓO
&TUFMJCSPQSFGJFSFMBUFSNJOPMPHÎB
HFOFSBMEFiIPOHPDPNFTUJCMFuQBSBEFGJOJSMBHSBOEJWFSTJEBEEFGPSNBTZUBNCJÊOQBSB
EJTUJOHVJSMBTDMBSBNFOUFEFMBTTFUBTDVMUJWBEBT3FDVBESP
{$ØNPTFBMJNFOUBOMPTIPOHPT
-PTIPOHPTEFQFOEFOEFNBUFSJBMFTWJWPTZNVFSUPTQBSBTVDSFDJNJFOUP0CUJFOFOTV
OVUSJNFOUPFOUSFTGPSNBTCÃTJDBT
x 4BQSÓGJUPmDSFDJNJFOUPFONBUFSJBPSHÃOJDBNVFSUB
x 4JNCJÓUJDPmDSFDJNJFOUPFOBTPDJBDJÓODPOPUSPTPSHBOJTNPT
x 1BUÓHFOPP1BSBTÎUJDPmDSFDJNJFOUPDPOEBÒPBPUSPTPSHBOJTNPT
-B NBZPS QBSUF EF MBT FTQFDJFT EF )4$ TPO TJNCJÓUJDBT Z GPSNBO NJDPSSJ[BT
DPO MPT ÃSCPMFT WFB NÃT BEFMBOUF
-PT IPOHPT TBQSÓGJUPT DPNFTUJCMFT UBNCJÊO TPO
SFDPMFDUBEPTFOGPSNBTJMWFTUSFQFSPTPONÃTDPOPDJEPTZNÃTBNQMJBNFOUFWBMPSJ[BEPT
FOTVTGPSNBTDVMUJWBEBT-PTIPOHPTQBSÃTJUPTQSPEVDFOFOGFSNFEBEFTFOMBTQMBOUBT
ZVOQFRVFÒPOÙNFSPEFFTUPTNJDSPNJDFUPTPNJDSPIPOHPT
FTDPNJEPFOGPSNBEF
NBUFSJBMFTIVÊTQFEFTJOGFDUBEPT*MVTUSBDJÓO
-BTEJGFSFOUFTGPSNBTEFBMJNFOUBDJÓO
TFNVFTUSBOFOMB*MVTUSBDJÓOZTFEFTDSJCFOCSFWFNFOUFFOMPTQÃSSBGPTTJHVJFOUFT
-PTIPOHPTTBQSØGJUPT
-PTIPOHPTDPMPOJ[BOMBNBEFSBFOQVUSFGBDDJÓOZMBTTVTUBODJBTPSHÃOJDBTQSFTFOUFT
FOFMTVFMP.VDIBTFTQFDJFTOPQVFEFOTFSWJTUBTBTJNQMFWJTUBNJDSPNJDFUPT
QFSP
IBZNBDSPNJDFUPTDPNFTUJCMFT
RVFDSFDFOFOUSPODPTDBÎEPTZHSVQPTEFIPOHPTRVF
DSFDFOFOMBTQBSUFTNVFSUBTPRVFTFFTUÃONVSJFOEPEFÃSCPMFTRVFBÙOFTUÃOFOQJF
-BTFUBDPNÙOPiCPMBEFOJFWFu"HBSJDVTBSWFOTJT
FTVOBFTQFDJFTJMWFTUSFDPNFTUJCMF
DPNÙONFOUF SFDPMFDUBEB RVF TF FODVFOUSB FO MBT ÃSFBT EF QBTUPSFP Z DVCJFSUBT EF
4BQSÓGJUPEFTDSJCFVOPSHBOJTNPRVFTFBMJNFOUBQPSEJHFTUJÓOFYUFSOBEFNBUFSJBTPSHÃOJDBTNVFSUBT
$BSBDUFSÎTUJDBTCJPMPHÎBFDPMPHÎBVTPTDVMUJWBDJÓO
IJFSCB -BT FTQFDJFT DPNFTUJCMFT EF 'BWPMVT TPO SFDPMFDUBEBT EF MB NBEFSB NVFSUB EF
MPTCPTRVFTQMVWJBMFTUSPQJDBMFT-PT)4$VTBEPTQPSMPTJOEJPT:BOPNBOJEFM#SBTJM
TPO UPEPT TBQSÓGJUPT Z DSFDFO FO MBT ÃSFBT EF UBMB Z RVFNB EPOEF IBZ USPODPT FO
EFTDPNQPTJDJÓO1SBODF
&O TV IÃCJUBU OBUVSBM FM WPMVNFO Z WBMPS EF MBT FTQFDJFT TBQSÓGJUBT VTBEBT DPNP
BMJNFOUPFTSFEVDJEPFODPNQBSBDJÓODPOMPTIPOHPTTJNCJÓUJDPTDPNFTUJCMFTBVORVF
TF SFDPMFDUB MB NBZPS QBSUF EF FTQFDJFT TBQSÓGJUBT DPNFTUJCMFT 4V WBMPS HFOFSBM FT
NVDIPNÃTBMUPQPSRVFTPOBNQMJBNFOUFDVMUJWBEPTSFDJFOUFNFOUFGVFDBMDVMBEBVOB
DJGSBEFNJMNJMMPOFTEFEÓMBSFT&&66QBSBFMDPNFSDJPHMPCBMBOVBMEFFTQFDJFT
TBQSÓGJUBTDVMUJWBEBT$IBOHWÊBTFUBNCJÊOFM$VBESP
-BTFTQFDJFTTBQSÓGJUBTOFDFTJUBOVOBQSPWJTJPOBNJFOUPDPOTUBOUFEFNBUFSJBPSHÃOJDB
BEFDVBEBQBSBTPTUFOFSMBQSPEVDDJÓOFOTVIÃCJUBUOBUVSBMZFTUPQVFEFTFSVOGBDUPS
MJNJUBUJWP EF MB QSPEVDDJÓO -B DVMUJWBDJÓO EFM IPOHP KBQPOÊT TIJJUBLF -FOUJOVMB
FEPEFT
FOVOÃSFBEF$IJOBFTUÃBNFOB[BEBQPSMBGBMUBEFSBNBTEFÃSCPMFTBEFDVBEPT
EFMPTCPTRVFTWFDJOPT1BVMJ
-PTNBDSPNJDFUPTTBQSÓGJUPTTPOUBNCJÊOBMUBNFOUFWBMPSJ[BEPTQPSTVTQSPQJFEBEFT
DVSBUJWBT-BNBZPSQBSUFTPODVMUJWBEPTBVORVFMBTFTQFDJFTEFMHÊOFSP(BOPEFSNB
*MVTUSBDJÓO
UBNCJÊOTPOSFDPMFDUBEBTFOTVIÃCJUBUOBUVSBM-BMJTUBEFNBDSPNJDFUPT
TJNCJÓUJDPTDPOQSPQJFEBEFTNFEJDJOBMFTFTNVDIPNÃTCSFWFQFSPIBZJOEJDBDJPOFTEF
RVFIBOTJEPFTUVEJBEPTNFOPTQPSRVFOPQVFEFOTFSDVMUJWBEPT3FTIFUOJLPW8BTTFS
Z5BO
-PTIPOHPTTJNCJØUJDPT
-BGPSNBNÃTDPNÙOEFTJNCJPTJTBTPDJBEBDPOMPT)4$FTDPOPDJEBDPNPNJDPSSJ[B
*MVTUSBDJÓO
.VDIBTQMBOUBTEFQFOEFOEFFTUBBTPDJBDJÓOIPOHPTSBÎDFTQBSBDSFDFS
TBOBT 6O UJQP FTQFDJBM DPOPDJEP DPNP FDUPNJDPSSJ[B &.$
TF FODVFOUSB FO MPT
ÃSCPMFT RVF DSFDFO FO MB UBJHB SVTB Z FO MPT CPTRVFT USPQJDBMFT EFM #PSOFP F JODMVZF
UBOUP MFHVNJOPTBT BSCÓSFBT DPNP DPOÎGFSBT $VBESP -BT &.$ FTUÃO GPSNBEBT
UÎQJDBNFOUFQPSNBDSPNJDFUPTFJODMVZFONVDIBTEFMBTQSJODJQBMFTFTQFDJFTDPNFTUJCMFT
RVFTPOSFDPMFDUBEBTFOTVBNCJFOUFOBUVSBMUBMFTDPNPMBTFTQFDJFTEF$BOUIBSFMMVTZ
EF"NBOJUBT
-B NJDPSSJ[B DPOUSJCVZF BM DSFDJNJFOUP EF MPT ÃSCPMFT FO MPT UFSSFOPT DBSFOUFT EF
OVUSJFOUFT UBMFT DPNP MBT [POBT CPTDPTBT EF NJPNCP EF ¦GSJDB DFOUSBM Z NFSJEJPOBM
$BNQCFMM 6OB FTQFDJF EF HVBOUF EF
$6"%30
GJMBNFOUPT FOWVFMWF MB SBÎ[ QFOFUSBOEP FO TV 'BNJMJBTEFQMBOUBTDPOIPOHPTFDUPNJDPSSÓ[JDPT
FTUSVDUVSB QFSP OP FO TVT DÊMVMBT GPSNBOEP VO DPNFTUJCMFT
DPOUBDUP WJWJFOUF FOUSF MPT IPOHPT Z FM ÃSCPM -PT '".*-*"
&+&.1-04
#FUVMBBCFEVMFT
IPOHPT DPOUSJCVZFO B RVF MPT ÃSCPMFT TVDDJPOFO #FUVMBDFBF
"G[FMJB#SBDIZTUFHJB
FMBHVBEFVOBDVFODBNÃTBNQMJBZMFTVNJOJTUSBO $BFTBMQJOJPJEFBF
*TPCFSMJOJB+VMCFSOBSEJB
TVTUBODJBTOVUSJUJWBTSFDPHJEBTFOVOÃSFBNBZPS&M $BTVBSJOBDFBF
$BTVBSJOB
ÃSCPM QPS TV MBEP QSPQPSDJPOB B MPT IPOHPT MPT $VQSFTTBDFBF
$VQSFTTVT
DBSCPIJESBUPTFTFODJBMFT
%JQUFSPDBSQBDFBF
4IPSFB%JQUFSPDBSQVT
.POPUFT
-PT 5FSNJUPNZDFT QSFTFOUBO JNQPSUBOUFT
6BQBDB
FTQFDJFT TJMWFTUSFT DPNFTUJCMFT &TUPT IPOHPT &VQIPSCJBDFBF
'BHBDFBF
$BTUBOFBDBTUB×P
$BTUBOPQTJT
DSFDFO TPMBNFOUF FO BTPDJBDJÓO DPO MPT UFSNJUFT
'BHVTCBZBEFMOPSUF
/PUIPGBHVTCBZBEFMTVS
Z TVT OJEPT EFQFOEFO EF MBT NBUFSJBT PSHÃOJDBT
2VFSDVTSPCMF
RVFUSBFOFTUPTJOTFDUPTEFTVTWJBKFTFOCVTDBEF i-FHVNFTw
"DBDJB
BMJNFOUPFOMPTÃSCPMFT"VORVFMPT5FSNJUPNZDFT .ZSUBDFBF
&VDBMZQUVT
TPO IPOHPT TBQSÓGJUPT WJWFO FO TJNCJPTJT DPO 1JOBDFBF
1JOVTQJOPT
1JDFBBCFUPT
"CJFTBCFUPT
-BSJYBMFSDF
MPT UFSNJUFT )BO TJEP SFHJTUSBEBT WFJOUF FTQFDJFT
1BQJMJPOPJEFBF
1FSJDPQTJT
DPNFTUJCMFT EF FTUF HÊOFSP FO ¦GSJDB Z "TJB
/ZDUBHJOBDFBF
/FFB
1FHMFT Z 7BOIBFDLF 4PO DPUJEJBOBNFOUF 7ÏBTFEFUBMMFTTPCSFFDUPNJDPSSJ[BTFOMPTÈSCPMFTUSPQJDBMFT
SFDPMFDUBEBT Z WFOEJEBT *MVTUSBDJÓO &M IPOHP FO"MFYBOEFSZ)PHCFSH
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
DPNFTUJCMF NÃT HSBOEF EFM NVOEP FT FM 5 UJUBOJDVT BVORVF QSFTFOUB PUSBT FTQFDJFT
NVDIPNÃTQFRVFÒBT
-BQPCMBDJÓOSVSBMIBBTPDJBEPEFTEFUJFNQPTSFNPUPTMBQSFTFODJBEFMPTIPOHPT
DPNFTUJCMFTDPOMPTÃSCPMFTEFMBMPDBMJEBEZMPTIBOJODPSQPSBEPFOTVTOPNCSFTMPDBMFT
&OFMTVSEF¦GSJDBUBOUPDIJNTVLVDPNPLBNTVLVEFTDSJCFOVOBFTQFDJFEF-BDUBSJVT
RVFDSFDFCBKPMPTÃSCPMFTEFNBTVLV1JFBSDF
"MHVOPTIPOHPTFDUPNJDPSSÎ[JDPT
DPNFTUJCMFTQSPEVDFOTVTDBSQÓGPSPTCBKPUJFSSB&MFKFNQMPNÃTDPNÙOTPOMBTUSVGBT
TQ5VCFS*MVTUSBDJÓO
)BOTJEPSFHJTUSBEBTNÃTEFFTQFDJFTEF&.$DPNFTUJCMFT
8BOH#VDIBOBOZ)BMM
&YJTUFOUBNCJÊONVDIPTIPOHPTFDUPNJDPSSÎ[JDPTRVF
QSPEVDFODBSQÓGPSPTRVFTPOWFOFOPTPTPOPDPNFTUJCMFT
-B QSPEVDDJÓO EF DBSQÓGPSPT EFQFOEF EF VO DPOKVOUP DPNQMFKP EF GBDUPSFT Z FO
BMHVOPTBÒPTQPESÎBWPMWFSTFJOTJHOJGJDBOUF&O#PUTXBOBQPSFKFNQMPTFDPNQSBSPO
FO VOB QFRVFÒB DPNVOJEBE UPOFMBEBT EF 5FSGF[JB QGFJMJJ VOB EF MBT iUSVGBT EFM
EFTJFSUPu FO VOB TPMB UFNQPSBEB FM BÒP TJHVJFOUF TÓMP DVBUSP DBSQÓGPSPT GVFSPO
SFDPMFDUBEPT FO VO ÃSFB NVDIP NÃT BNQMJB 5BZMPS DPNVOJDBDJÓO QFSTPOBM
&EJCMF GVOHJ FBUFO BOE USBEFE JO #PUTXBOB BOE /BNJCJB
-B JODFSUJEVNCSF EF MB
DPTFDIBEFMBÒPTJHVJFOUFIBDFEJGÎDJMMBQMBOJGJDBDJÓOEFMBFYQMPUBDJÓODPNFSDJBMZTF
IBOEBEPBMHVOPTQBTPTQBSBTVQFSBSFTUFQSPCMFNBiDVMUJWBOEPuFTQFDJFTNJDPSSÎ[JDBT
GVOEBNFOUBMFT UBMFT DPNP MB 5SJDIPMPNB NBUTVUBLF )BMM FU BM -PT ÃSCPMFT
TPO JOGFDUBEPT DPO USVGBT )BMM ;BNCPOFMMJ Z 1SJNBWFSB Z NBOUFOJEPT CBKP
DPOEJDJPOFT DPOUSPMBEBT FO *UBMJB *MVTUSBDJÓO Z FO PUSPT MVHBSFT QFSP FM UJFNQP
FTGVFS[PZEJOFSPOFDFTBSJPTTPOKVTUJGJDBEPTTÓMPBTVNJFOEPVOBCVFOBDPODFQDJÓO
EFMBFDPMPHÎBEFMPTIPOHPTJOUFSFTBEPT
FOMBTFTQFDJFTDPNFTUJCMFTNÃTWBMJPTBTEF
IPOHPTNJDPSSÎ[JDPT
-BTFTQFDJFTBSCÓSFBTQVFEFOGPSNBSNJDPSSJ[BTDPONÃTEFVOIPOHPZVOIPOHP
QVFEF FTUBS BTPDJBEP DPO NÃT EF VO ÃSCPM "MHVOBT &$. TPO iBVUÓDUPOBTu EF VOB
SFHJÓOFO.BEBHBTDBSVOB3VTTVMBDPNFTUJCMFDSFDFFOMPTFVDBMJQUPTFYÓUJDPT#VZDL
0USBT&$.DPNFTUJCMFTIBOTJEPJOUSPEVDJEBTZIPZFOEÎBMPT#PMFUVTFEVMJT
TFFODVFOUSBOFOUPEPFMTVSEF¦GSJDBDPNPQSPEVDUPEFMBQMBOUBDJÓOEFÃSCPMFTEF
QJOP-BT&$.IBOTJEPFTUVEJBEBTDPONBZPSJOUFOTJEBEFOFMQBTBEPFOMBTFTQFDJFT
BSCÓSFBTEFMBT[POBTUFNQMBEBTQFSPUBNCJÊOIBIBCJEPGJSNFTBWBODFTFOMPTFTUVEJPT
EFMBT&$.USPQJDBMFTBGSJDBOBT5IPFO7FSCFDLFOZ#VZDL
-PT MÎRVFOFT TPO BTPDJBDJPOFT EF iBVUPTVTUFOUPu FOUSF MPT IPOHPT Z VO BMHB
P DJBOPCBDUFSJBT Z TPO FM FKFNQMP GJOBM EF VOB TJNCJPTJT RVF UJFOF QSPQJFEBEFT
DPNFTUJCMFT6OMJRVFOFTVOHSVQPCJPMÓHJDPZOPVOHSVQPTJTUFNÃUJDP,JSLFUBM
Z MBT QPCMBDJPOFT EF &VSPQB "TJB Z /PSUFBNÊSJDB DPOTVNFO NVDIBT FTQFDJFT
WBMJPTBT VTÃOEPMBT UBNCJÊO QBSB GJOFT FDPOÓNJDPT /P MPT IFNPT JODMVJEP FO FTUF
FTUVEJPQFSPTFQVFEFPCUFOFSBCVOEBOUFJOGPSNBDJÓOEFVOCVFOOÙNFSPEFGVFOUFT
QFK3JDIBSETPO.BSMFTFUBM
-PTIPOHPTQBUØHFOPTZQBSÈTJUPT
&O WBSJPT QBÎTFT TF DPOTVNFO NBUFSJBT WFHFUBMFT JOGFDUBEBT QPS IPOHPT QBUÓHFOPT
&O .ÊYJDP QPS FKFNQMP TF DPOTVNFO FO HSBOEFT DBOUJEBEFT MBT NB[PSDBT EF NBÎ[
JOGFDUBEBTDPOFMiIPOHPEFNBSSBTu6TUJMBHPNBZEJT
UBOUPGSFTDBTDPNPFODPOTFSWB
-PDBMNFOUFTFDPOPDFODPOFMOPNCSFEFIVJUMBDPDIFPDVJUMBDPDIF7JMMBOVFWB
&M6NBZEJTFTVONJDSPNJDFUPOPGPSNBVODBSQÓGPSPWJTJCMFZFMÙOJDPSBTUSPEF
TV QSFTFODJB FT VOB NBTB EF FTQPSBT PTDVSBT *MVTUSBDJÓO -BT NB[PSDBT QBSFDFO
WPMWFSTFNÃTEVMDFTDPNPSFTVMUBEPEFMBUBRVFEFFTUPTIPOHPT4PNNFS
ZIBO
TJEPOPUBEPTDBNCJPTBOÃMPHPTQSPEVDJEPTQPSFMIPOHPDPNFTUJCMFNFKJDBOPDPOPDJEP
DPNPiSPZBEFMPTQJOPTu$SPOBSUJVNDPOJHFOVN
&OUSF PUSPT FKFNQMPT UFOFNPT 6TUJMBHP FTDVMFOUB TPCSF FM BSSP[ TJMWFTUSF
4QPSJTPSJVN DSVFOUB TPCSF FM TPSHP DIJOP (VP[IPOH DPNVOJDBDJÓO QFSTPOBM
&BUJOH4QPSJTPSJVNDSVFOUBJO$IJOB
MPTGSJKPMFTBMBEPTEF*OEPOFTJBJOGFDUBEPTQPS
$BSBDUFSÎTUJDBTCJPMPHÎBFDPMPHÎBVTPTDVMUJWBDJÓO
FM 4ZODIZUSJVN QTPQIPDBSQJ 3JGBJ
$PO MPT NBDSPNJDFUPT QBSÃTJUPT
)ZQPNZDFTMBDUJGMVPSVNRVFDSFDFO
TPCSF PUSPT NBDSPIPOHPT CPMFUPT
Z TF DPOTVNFO EFTEF $BOBEÃ IBTUB
(VBUFNBMB DPNQMFUBNPT FM ÃNCJUP
EF OJDIPT FDPMÓHJDPT PDVQBEPT QPS
MPT)4$
'*(63"
-BTQBSUFTEFVOIPOHPo/PNCSFTDJFOUÓmDPTZWVMHBSFT
-"*%&/5*'*$"$*»/
-PTOPNCSFTDJFOUÓGJDPTZ
WVMHBSFT
-PT OPNCSFT WVMHBSFT IBO TJEP
CJFO EPDVNFOUBEPT FO .ÊYJDP
(V[NÃO
$IJOB.BP
Z QVFEFO TFS DPOUSPMBEPT FO MÎOFB
FO .BMBXJ XXXNBMBXJGVOHJPSH
B MB QBS EF TVT OPNCSFT DJFOUÎGJDPT
FRVJWBMFOUFT $BEB VOP EF FTUPT
QBÎTFT UJFOF VO MÊYJDP SJDP EF
OPNCSFTZUFSNJOPMPHÎBT'JHVSB
VOB TFÒBM EF MB JNQPSUBODJB EF
MB RVF HP[BO MPT )4$ FO MBT
&TUFFKFNQMPTFCBTBFOVODBSQØGPSPEFVO"NBOJUB0USPTHÏOFSPTOPQPTFFOVOBWPMWB
QPCMBDJPOFT SVSBMFT "MHVOPT
FM USPORVJUP RVF DPOUJFOF FM DBSQØGPSP FO DSFDJNJFOUP
Z B WFDFT OP QPTFFO BOJMMPT &M
OPNCSFFOJOHMÏTFTUÈFOOFHSJMMBTFMOPNCSFFOFTQB×PMFONBZÞTDVMBTTFHVJEPQPSMPT
OPNCSFTMPDBMFTIBOTJEPBEPQUBEPT
OPNCSFTWVMHBSFTEF"KVTDPZ5PQJMFKPFO.ÏYJDP
'VFOUFBEBQUBEPEF3FZHBEBT;BNPOJ.BSUÓOF[Z$JGVFOUFT
NÃT BNQMJBNFOUF QBSUJDVMBSNFOUF
FO MP RVF SFTQFDUB B MPT IPOHPT
DPNFTUJCMFTJNQPSUBOUFT&M#PMFUVT
FEVMJTTFDPOPDFHFOFSBMNFOUFQPSTVOPNCSFGSBODÊTDÍQF
PFOJUBMJBOPQPSDJOPQM
QPSDJOJ
ZMPT5SJDIPMPNBNBUTVUBLFQPSTVOPNCSFFOKBQPOÊTNBUTVUBLF
&M TJTUFNB EF OPNCSFT DJFOUÎGJDPT UJFOF FM PCKFUJWP EF BDMBSBS EVEBT TPCSF MPT
IPOHPTEFTDSJUPT6OBQFSTPOBDPO$BOUIBSFMMVTDJCBSJVTFO/FQBMTBCFRVFTPOMPT
NJTNPT IPOHPT EF .P[BNCJRVF QSFTVNJFOEP RVF BNCPT IBZBO TJEP JEFOUJGJDBEPT
DPO QSFDJTJÓO -PT OPNCSFT DJFOUÎGJDPT TF DPNQPOFO EF EPT QBSUFT MB QSJNFSB FT
FM OPNCSF HFOÊSJDP $BOUIBSFMMVT
MB TFHVOEB FM OPNCSF FTQFDÎGJDP TQ DJCBSJVT
&YJTUFO NVDIBT WBSJFEBEFT EF OPNCSFT QBSB MBT NJTNBT FTQFDJFT QFSP MB WBMJEF[
DJFOUÎGJDBBNFOVEPFTJODJFSUB
-PTOPNCSFTMPDBMFTEFMPTIPOHPTDPNFTUJCMFTTFCBTBOFOMBGPSNBTBCPSZPUSBT
QSPQJFEBEFTRVFTPODBSBDUFSÎTUJDBTPJNQPSUBOUFTQBSBMBQPCMBDJÓO-BFTQFDJFEFMJRVFO
6NCJMJDBSJBFTDVMFOUBZMBTFUBDPNFTUJCMFiPSFKBEF+VEBTu"VSJDVMBSJBBVSJDVMBKVEBF
UJFOFOOPNCSFTWVMHBSFTTÎNJMFTFO)VOBO:BOFSPSFKBEFQJFESB
Z.VFSPSFKBEF
CPTRVF
SFTQFDUJWBNFOUF1PSFTUFNFEJPTFJEFOUJGJDBFMMVHBSEPOEFDSFDFOZQVFEFO
TFSSFDPMFDUBEPT-PTNJDÓMPHPTBWFDFTOPTFGÎBOEFMBTDMBTJGJDBDJPOFTMPDBMFTQPSRVF
TFCBTBOFODBSBDUFSÎTUJDBTEFWBMPSDJFOUÎGJDPJODJFSUP)ÅSLÕOFO
-PTOPNCSFTMPDBMFTTPOQJTUBTWBMJPTBTEFMPTVTPTZMBJNQPSUBODJBQBSBMBQPCMBDJÓO
EFMPTIPOHPTDPNFTUJCMFTZIBZNVDIPRVFBQSFOEFSEFTVFTUVEJP-PTOPNCSFTMPDBMFT
QFSNJUFO B MPT JOWFTUJHBEPSFT BQSFOEFS TPCSF MBT QSÃDUJDBT EF SFDPMFDDJÓO BOBMJ[BS MPT
NFSDBEPTZIBCMBSDPOMPTSFTQPOTBCMFTEFHFTUJÓOGPSFTUBMZPUSBTQFSTPOBTRVFOPUJFOFO
OPDJPOFT GPSNBMFT EF DJFODJBT Z OP FTUÃO GBNJMJBSJ[BEPT DPO MPT OPNCSFT HFOÊSJDPT Z
FTQFDÎGJDPT&OFM$VBESPCSJOEBNPTFKFNQMPTEFFTUVEJPTFUOPHSÃGJDPTRVFDPNQSFOEFO
5PEBTMBTQÃHJOBTXFCIBOTJEPSFWJTBEBTFO
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
MPT)46"MHVOBTSFGFSFODJBTQBSBMMFWBSBDBCPUBMFTFTUVEJPTTPOEJTQPOJCMFTFOVOCVFO
OÙNFSPEFGVFOUFTEJGFSFOUFTQFK"MFYJBEFT
-BTDMBTJGJDBDJPOFTMPDBMFTZDJFOUÎGJDBTTJSWFOBEPTHSVQPTEJGFSFOUFTEFQPCMBDJPOFT
ZOPTPOJOGBMJCMFT-BTFTQFDJFTDPNFTUJCMFTEF#PMFUVTOPTPODPOTVNJEBTFOSFHJPOFT
EFMB3FQÙCMJDB6OJEBEF5BO[BOÎBQPSFKFNQMP)ÅSLÕOFO
MPDVBMSFGMFKBMBT
DPTUVNCSFTMPDBMFTZOPMPTEBUPTDJFOUÎGJDPT-BTSFGFSFODJBTEFDBNQPBNFOVEPFTUÃO
FOEFTBDVFSEPTPCSFDVÃMFTFTQFDJFTTPODPNFTUJCMFTUBOUPQPSRVFTFNBOUJFOFODBVUPT
BM SFDPNFOEBS MBT FTQFDJFT RVFOFDFTJUBOTFSQSFDPDJOBEBTDPNPQPSRVFMPTBVUPSFT
EFTDPOPDFOMBTDPTUVNCSFTMPDBMFTFOEJGFSFOUFTQBSUFTEFMNVOEP
-PRVFFTUÃDMBSPTJOFNCBSHPFTRVFIBZNVDIBTFTQFDJFTEFTDSJUBTFTDBTBNFOUF
RVFTPOSFDPMFDUBEBTQBSBVTPQFSTPOBMZDPNFSDJBMJ[BEBTFOMPTQBÎTFTFOEFTBSSPMMP
&MSJUNPEFEFTDVCSJNJFOUPFTEJSFDUBNFOUFQSPQPSDJPOBMBMPTGPOEPTQBSBQSPZFDUPT
Z B MB IBCJMJEBE EF EPDVNFOUBS MBT FYQFSJFODJBT NJDPMÓHJDBT EF MPT EJTUJOUPT QBÎTFT
&M USBCBKP FO MB 3FQÙCMJDB 6OJEB EF 5BO[BOÎB )ÅSLÕOFO $PEKJB Z :PSPV .P[BNCJRVFZ.BMBXJ#PBFUBM
#VSVOEJ#VZDLC
Z#FOJO%F,FTFM
4BBSJNÅLJZ.XBTVNCJ
FOGBUJ[BMBSJRVF[BEFMBTNJDPUBTUSPQJDBMFTDPNFTUJCMFT
Z MP NVDIP RVF RVFEB UPEBWÎB QPS IBDFS &O BVTFODJB EF UBM QFSJDJB NJDPMÓHJDB MPT
OPNCSFTMPDBMFTQVFEFOTVNJOJTUSBSJOGPSNBDJÓOÙUJMQBSUJDVMBSNFOUFTJTFEJTQPOFEF
FTQFDÎNFOFTEFTFDBEPTQBSBVOFYBNFOQPTUFSJPS
6O FTQÊDJNFO DVJEBEPTBNFOUF JEFOUJGJDBEP DPO TV OPNCSF DJFOUÎGJDP BTFHVSB RVF
DVBMRVJFSJOGPSNBDJÓOOVFWBQVFEFTFSVTBEBEFNBOFSBDPOGJBCMF6OOPNCSFDJFOUÎGJDP
FT MB GPSNB NÃT ÙUJM EF JOWFTUJHBS TJ VOB FTQFDJF FT DPNFTUJCMF P WFOFOPTB P TJ UJFOF
QSPQJFEBEFTNFEJDJOBMFTVPUSPUJQPEFQSPQJFEBEFTÙUJMFT6OJNQPSUBEPSOPOFDFTJUB
TBCFS TJ FM QJFE EF NPVUPO EF #VMHBSJB FT FM )ZEOVN SFQBOEVN ZB RVF FTUF HÊOFSP
DPOUJFOF TÓMP FTQFDJFT DPNFTUJCMFT QFSP VO DPOTVNJEPS JUBMJBOP QBHBSÃ NFOPT QPS FM
PSEJOBSJP5VCFSTJOPTVNEF$IJOBDPNQBSBEPDPOPUSBTFTQFDJFTNÃTWBMJPTBT&OFTUF
FKFNQMP VO OPNCSF DJFOUÎGJDP EFTDSJCF GJEFEJHOB Z ÙOJDBNFOUF FM IPOHP FO DVFTUJÓO
QBSBFMDVBMMBJOGPSNBDJÓOQVFEFTFSCVTDBEBFOMBMJUFSBUVSB
&MVTPEFMOPNCSFDJFOUÓGJDPBDUVBMPiDPSSFDUPwEFVOIPOHP
-PTOPNCSFTDJFOUÎGJDPTEFMPTIPOHPTTVGSFODBNCJPTDPOTUBOUFTFKFNQMPEFMPNVDIP
RVFRVFEBQPSEFTDVCSJSTPCSFMBEJWFSTJEBEEFFTQFDJFT4FQSPQPOFOOVFWPTOPNCSFT
Z TF SFBKVTUBO MPT MÎNJUFT HFOÊSJDPT DPNP SFTVMUBEP EF OVFWPT EFTDVCSJNJFOUPT Z EF
MBPCTFSWBDJÓOEFOVFWBTSFMBDJPOFTFOUSFMBTFTQFDJFT$VBOEPTFQSPQPOFVOBOVFWB
FTQFDJFFTKV[HBEBDPNQBSBOEPMBTSFGFSFODJBTZSFHMBTSFDPHJEBTZSFHVMBSNFOUFQVFTUBT
BMEÎBQPSMPTDJFOUÎGJDPT-BQVCMJDBDJÓODPSSFDUBEFVOOPNCSFOVFWPOPTJHOJGJDBRVF
MPTDJFOUÎGJDPTFTUÊOEFBDVFSEPTPCSFTVTUBUVTUBYPOÓNJDP-PTMÎNJUFTFOUSFHÊOFSPT
ZFTQFDJFTFTUÃOBCJFSUPTBEJGFSFOUFTJOUFSQSFUBDJPOFTZFTQPSFTUBSB[ÓORVFFYJTUFO
OPNCSFTDJFOUÎGJDPTEFIPOHPTiQSFGFSJEPTuFOWF[EFMPTOPNCSFTiDPSSFDUPTu
&TUPT DBNCJPT F JODFSUJEVNCSFT UJFOFO DPOTFDVFODJBT QSÃDUJDBT JNQPSUBOUFT QBSB MB
QPCMBDJÓORVFDPOTVNFZVTBMPT)4$-BHFOUFEFCFUFOFSMBDFSUF[BEFRVFVOBFTQFDJF
IBTJEPDPOPDJEBQSFDFEFOUFNFOUFQPSVOOPNCSFEJGFSFOUFPQPSVOTJOÓOJNPDVBOEP
CVTDBJOGPSNBDJÓO1PSFKFNQMPMPT5FSNJUPNZDFTBMCVNJOPTVTBOUFTTFDPOPDÎBDPNP
$PMMZCJBBMCVNJOPTB0USPTDBNCJPTIBOTJEPNFOPTSBEJDBMFTMPT-FOUJOVTFEPEFTP
TIJJUBLFIPZUJFOFFMOPNCSFiQSFGFSJEPuEF-FOUJOVMBFEPEFT4VBOUJHVPOPNCSFiOP
QSFGFSJEPu TF VTB UPEBWÎB DPO DJFSUB GSFDVFODJB FO MBT QVCMJDBDJPOFT -BT PQJOJPOFT TF
EJWJEFOBÙOTPCSFTJMBTFTQFDJFT$PSJPMVTDPOQSPQJFEBEFTNFEJDJOBMFTEFCJFTFOTFSSF
EFOPNJOBEBTDPNP5SBNFUFT&OMPT"VSJDVMBSJBBVSJDVMBKVEBFTViOPNCSFQSFGFSJEPu
TFQSFTFOUBJOEJGFSFOUFNFOUFDPNP)JSOFPMBBVSJDVMBKVEBFZ"VSJDVMBSJBBVSJDVMB
&M $VBESP FT VOB MJTUB EF MPT OPNCSFT QSFGFSJEPT EF MPT )4$ RVF BÙO VUJMJ[BO
PUSPT OPNCSFT EF SFGFSFODJB &O MBT QVCMJDBDJPOFT UBNCJÊO BQBSFDFO BMHVOPT FSSPSFT
EFPSUPHSBGÎBJODMVTPMBTEJGFSFODJBTNÎOJNBTQVFEFODBVTBSEVEBTTPCSFMBJEFOUJEBE
EFVOIPOHP&M%JDDJPOBSJPEFMPTIPOHPTFTVOBSFGFSFODJBFTUÃOEBSGSFDVFOUFNFOUF
$BSBDUFSÎTUJDBTCJPMPHÎBFDPMPHÎBVTPTDVMUJWBDJÓO
$6"%30
DPSSFHJEB EPOEF TF FODVFOUSBO UPEPT MPT /PNCSFTDJFOUÓGJDPTQSFGFSJEPTBDUVBMFTPiDPSSFDUPTw
HÊOFSPTEFIPOHPT,JSLFUBM
&M*OEFY EFMPTIPOHPTTJMWFTUSFTFDPOØNJDBNFOUFJNQPSUBOUFT
'VOHPSVN VO SFDVSTP EF *OUFSOFU GBDJMJUB FM 16#-*$"%04$0.0
/0.#3&13&'&3*%0
DPOUSPMEFMFTUBEPEFQSFGFSJEPTPOPQSFGFSJEPT
"SNJMMBSJFMMBNFMMFB
"SNJMMBSJBNFMMFB
FOUSF MPT OPNCSFT FTQFDÎGJDPT Z BZVEB B "VSJDVMBSJBBVSJDVMB
"VSJDVMBSJBBVSJDVMBKVEBF
FODPOUSBSTJOÓOJNPTXXXJOEFYGVOHPSVNPSH
9FSPDPNVTCBEJVT
#PMFUVTCBEJVT
*OEFY 'VOHPSVN FT EF VO CFOFGJDJP QSÃDUJDP #PMFUVTHSBOVMBUVT
4VJMMVTHSBOVMBUVT
4VJMMVTMVUFVT
DPOTJEFSBCMFBVORVFMFIBDFGBMUBFMSFTQBMEP #PMFUVTMVUFVT
-BOHFSNBOOJBHJHBOUFB
OFDFTBSJP QBSB DPOUFTUBS BNQMJBNFOUF B $BMWBUJBHJHBOUFB
-ZDPQFSEPOHJHBOUFB
UPEBT MBT TPMJDJUVEFT RVF MMFHBO TPCSF DVBM $PMMZCJBBMCVNJOPTB
5FSNJUPNZDFTBMCVNJOPTVT
OPNCSFDJFOUÎGJDPVUJMJ[BSQBSBMPT)4$&TUB $PSJPMVTIJSTVUVT
5SBNFUFTIJSTVUB
FYJHFODJB QSÃDUJDB UJFOF RVF TFS EJTDVUJEB $PSJPMVTWFSTJDPMPS
5SBNFUFTWFSTJDPMPS
%FOESPQPMZQPSVTVNCFMMBUVT
1PMZQPSVTVNCFMMBUVT
UPEBWÎBQPSMBDPNVOJEBEDJFOUÎGJDB
'PNJUPQTJTPGGJDJOBMJT
-BSJDJGPNFTPGGJDJOBMJT
(SJGPMBVNCFMMBUVT
1PMZQPSVTVNCFMMBUVT
*EFOUJGJDBSMBTFTQFDJFT
)FSJDJVNFSJOBDFVN
)FSJDJVNFSJOBDFVT
-PT HÊOFSPT EF MPT )4$ RVF TF FODVFOUSBO
)JSOFPMBBVSJDVMBKVEBF
"VSJDVMBSJBBVSJDVMBKVEBF
FO MPT DMJNBT USPQJDBMFT Z TVCUSPQJDBMFT )ZEOVNJNCSJDBUVT
4BSDPEPOJNCSJDBUVT
TPO BNQMJBNFOUF BOÃMPHPT B MPT RVF TF )ZQTJ[ZHVTVMNBSJVN
-ZPQIZMMVNVMNBSJVN
FODVFOUSBO FO MB NJDPUB EF MBT SFHJPOFT -FOUJOVTFEPEFT
-FOUJOVMBFEPEFT
.BDSPMFQJPUBQSPDFSB
UFNQMBEBT -JODPGG -B EJWFSTJEBE -FQJPUBQSPDFSB
-FQJPUBSIBDPEFT
.BDSPMFQJPUBSIBDPEFT
EF FTQFDJFT TJO FNCBSHP FT NVDIP NBZPS
1BOVTSVEJT
-FOUJOVTTUSJHPTVT
FO MPT QBÎTFT FO EFTBSSPMMP Z TF EFCF UFOFS
1MFVSPUVTDPSOVDPQJBFWBS
1MFVSPUVTDJUSJOPQJMFBUVT
DVJEBEP BM DPNQBSBSMBT DPO FM ÃNCJUP DJUSJOPQJMFBUVT
SFEVDJEP EF FTQFDJFT JMVTUSBEBT FO MBT UBOUBT 1MFVSPUVTGFSVMBF
1MFVSPUVTFSZOHJJWBS
GFSVMBF
HVÎBT EF DBNQP QVCMJDBEBT FO &VSPQB Z
1MFVSPUVTPMFBSJVT
0NQIBMPUVTPMFBSJVT
/PSUFBNÊSJDB
1MFVSPUVTPQVOUJBF
1MFVSPUVTPTUSFBUVT
)BZ EPT HSBOEFT HSVQPT UBYPOÓNJDPT 1MFVSPUVTQPSSJHFOT
1MFVSPDZCFMMBQPSSJHFOT
EF IPOHPT DPNFTUJCMFT MPT CBTJEJPNJDFUPT 1MFVSPUVTUVCFSSFHJVN
-FOUJOVTUVCFSSFHJVN
FOUSF MPT DVBMFT FTUÃO MBT TFUBT MPT HSVQPT 1PSJBDPDPT8PMGJQPSJBDPDPT 8PMGJQPSJBFYUFOTB
3P[JUFTDBQFSBUVT
EF IPOHPT Z MPT CPMFUPT *MVTUSBDJÓO Z 3P[JUFTDBQFSBUB
4QBSBTTJTDSJTQB
MPT BTDPNJDFUPT RVF JODMVZFO MBT USVGBT 4QBSBTTJTSBEJDBUB
4USPCJMPNZDFTDPTUBUJTQPSB
"GSPCPMFUVTDPTUBUJTQPSVT
*MVTUSBDJÓO Z MPT IPOHPT DPMNFOJMMB
5FSNJUPNZDFTFVSSIJ[VT
5FSNJUPNZDFTFVSIJ[VT
.PSDIFMMB FTDVMFOUB
*MVTUSBDJÓO /P 5SJDIPMPNBHBNCPTB
$BMPDZCFHBNCPTB
FYJTUF VO FYBNFO TFODJMMP QBSB EFUFSNJOBS 5SJDIPMPNBMPCBZFOTJT
.BDSPDZCFMPCBZFOTJT
MB DPNFTUJCJMJEBE -B MJUFSBUVSB DJFOUÎGJDB 5MPCBZFOTF
1UZDIPWFSQBCPIFNJDB
FT MB GVFOUF EF DPOTFKPT NÃT PCKFUJWB QFSP 7FSQBCPIFNJDB
7FBXXXJOEFYGVOHPSVNPSHQBSBVMUFSJPSJOGPSNBDJØO
MBT QSÃDUJDBT Z QSFGFSFODJBT MPDBMFT QVFEFO
iwJOEJDBVOFSSPSEFPSUPHSBGÓBDPNÞO
UBNCJÊO BSSPKBS JOGPSNBDJÓO ÙUJM -B
FWJEFODJB FNQÎSJDB FT MB ÙMUJNB JOEJDBDJÓO
TPCSFTJVOBFTQFDJFFTDPNFTUJCMFPOP
-PT NÊUPEPT DMÃTJDPT EF JEFOUJGJDBDJÓO EF NBDSPNJDFUPT JODMVZFO VO FYBNFO
NJDSPTDÓQJDP EFM UFKJEP EF MBT FTQPSBT Z EF TV FTUSVDUVSB &TUP OPT BTFHVSB RVF BM
NFOPTFMHÊOFSPIBTJEPJEFOUJGJDBEP-BJEFOUJGJDBDJÓOEFMBTFTQFDJFTUSPQJDBMFTNFOPT
DPOPDJEBT QVFEF SFRVFSJS UBNCJÊO FM FYBNFO EF VOB CVFOB DBOUJEBE EF SFGFSFODJBT
*MVTUSBDJÓO
4FQVFEFOPCUFOFSDMBWFTWJTVBMFTÙUJMFTFOMBTGPUPHSBGÎBTEFMBTHVÎBTEF
DBNQPZIBZVOOÙNFSPDSFDJFOUFEFTJUJPTXFCDPOGPUPHSBGÎBTZEFTDSJQDJPOFTFTDSJUBT
EF MBT FTQFDJFT $BQÎUVMP 6OB CVFOB JOGPSNBDJÓO TPCSF MPT 1'/. EF .ÊYJDP FT
QSPQPSDJPOBEBQPSMB4FDSFUBSÎBEF.FEJP"NCJFOUFZ3FDVSTPT/BUVSBMFT
FO
*OUFSOFUFJODMVZFMPT)4$ZFTVOFKFNQMPFYDFMFOUFEFHVÎBFOMÎOFBRVFQVFEFTFS
JNJUBEPQPSPUSBTSFHJPOFTWFBXXXTFNBSOBUHPCNY
-BT JEFOUJGJDBDJPOFT EF FYQFSUPT QVFEFO TFS DPTUPTBT BVORVF QBHBS QPS VOB
JEFOUJGJDBDJÓOQSPQPSDJPOBMBHBSBOUÎBEFPCUFOFSSFTQVFTUBTBUPEBTMBTEVEBT.FJKFS
-B QSFTFSWBDJÓO EF FTQFDÎNFOFT FT TJFNQSF ÙUJM Z FO MB QFPS EF MBT IJQÓUFTJT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
QSPQPSDJPOB VOB SFGFSFODJB MPDBM QBSB FGFDUPT EF DPNQBSBDJÓO -B NBZPSÎB EF MPT
NBDSPNJDFUPTQVFEFOTFSGÃDJMNFOUFQSFTFSWBEPTQPSNFEJPEFMTFDBEP)BMMJOH
)BZFTUBOUFTFTQFDJBMFTQBSBIPOHPT*MVTUSBDJÓO
QFSPQVFEFOTFSJNQSPWJTBEPTFO
MB MPDBMJEBE BEPQUBOEP MPT NÊUPEPT VTBEPT QBSB TFDBS MBT GSVUBT Z PUSPT QSPEVDUPT
BMJNFOUJDJPT -PT FTQFDÎNFOFT TFDBEPT QVFEFO TJ FT OFDFTBSJP TFS FOWJBEPT FO VO
TFHVOEP NPNFOUP QBSB TV JOWFTUJHBDJÓO DJFOUÎGJDB Z EFCFSÎBO TFS BDPNQBÒBEPT QPS
OPUBTEFDBNQPZPGPUPHSBGÎBTBDPMPS
-BTIFSSBNJFOUBTNPMFDVMBSFTTPODPNÙONFOUFVTBEBTQBSBJEFOUJGJDBSMPTIPOHPT
QBUÓHFOPT Z UBNCJÊO IBO TJEP BQMJDBEBT B MBT FTQFDJFT EF USVGBT QBSB EFUFDUBS DVÃMFT
EF FTUBT FSBO VUJMJ[BEBT QBSB QSFQBSBS BMJNFOUPT -B BQMJDBDJÓO QSÃDUJDB EF FTUBT
IFSSBNJFOUBTQBSBJEFOUJGJDBSZDBSBDUFSJ[BSMPTNBDSPNJDFUPTDPNFTUJCMFTUJFOFUPEBWÎB
RVFTFSFYQMPSBEB
-04(3610413*/$*1"-&4%&)0/(044*-7&453&4
)BZ NÃT EF HÊOFSPT EF NBDSPNJDFUPT RVF DPOUJFOFO FTQFDJFT EF VTP QPQVMBS MB
NBZPSQBSUFEFMBTDVBMFTEFCJEPBTVTQSPQJFEBEFTDPNFTUJCMFT&OFTUFMJCSPTFIBDFVOB
DMBSBEJTUJODJÓOFOUSFMPTIPOHPTSFHJTUSBEPTTJNQMFNFOUFDPNPiDPNFTUJCMFTuZMPTRVF
FOMBBDUVBMJEBETFDPNFOiBMJNFOUPu
4JJODMVZÊSBNPTUPEBTMBTFTQFDJFTDPNFTUJCMFT
DPNPiBMJNFOUPuFYBHFSBSÎBNPTFOPSNFNFOUFFMOÙNFSPEFFTQFDJFTDPOTVNJEBTQPS
MBTQPCMBDJPOFTEFUPEPFMNVOEP-PTIPOHPTTJMWFTUSFTDPOQSPQJFEBEFTNFEJDJOBMFT
TPO UBNCJÊO WBMPSJ[BEPT QPS MB QPCMBDJÓO SVSBM EF NVDIPT QBÎTFT BVORVF FTUP FT EF
JNQPSUBODJBTFDVOEBSJB
-PT HÊOFSPT NÃT JNQPSUBOUFT EF )4$ TF EFTDSJCFO FO FM $VBESP DPO CSFWFT
PCTFSWBDJPOFTTPCSFMBTFTQFDJFTNFEJDJOBMFT-PTHÊOFSPTEF)4$QVFEFOTFSEJWJEJEPT
FOEPTDBUFHPSÎBTMBTRVFDPOUJFOFOFTQFDJFTRVFTPOBNQMJBNFOUFDPOTVNJEBTZTPO
FYQPSUBEBT B NFOVEP FO HSBOEFT DBOUJEBEFT UBMFT DPNP #PMFUVT Z $BOUIBSFMMVT Z
BRVFMMBT RVF TPO BNQMJBNFOUF DPOTVNJEBT HFOFSBMNFOUF FO QFRVFÒBT DBOUJEBEFT Z
SBSBNFOUF DVBOEP TVDFEF
DPNFSDJBMJ[BEBT NÃT BMMÃ EF MBT GSPOUFSBT OBDJPOBMFT &M
"OFYPSFTVNFMBJNQPSUBODJBHFOFSBMEFMPT)4$QPSQBÎTNJFOUSBTFOMPT"OFYPT
ZTFFOVNFSBOMBTFTQFDJFTJOEJWJEVBMFT
-PTIPOHPTNFEJDJOBMFT
-PTIPOHPTNFEJDJOBMFTFTUÃOBUSBZFOEPGVFSUFNFOUFFMJOUFSÊTDJFOUÎGJDPZDPNFSDJBM
QSPWPDBEP QPS FM QMFOP DPOPDJNJFOUP EFM VTP EF UBMFT NBUFSJBMFT FO MB NFEJDJOB
USBEJDJPOBM DIJOB $VBESP &M *OUFSOBUJPOBM +PVSOBM PG .FEJDJOBM .VTISPPNT
FNQF[Ó TV QVCMJDBDJÓO FO Z FT VOB GVFOUF JNQPSUBOUF EF JOGPSNBDJÓO EF FTUF
DBNQPEFJOWFTUJHBDJÓOFOFYQBOTJÓO8BTTFSZ8FJTC
7FBFM$BQÎUVMPQBSB
VMUFSJPSFTEJTDVTJPOFTBDFSDBEFMPTCFOFGJDJPTQBSBMBTBMVEQPSNFEJPEFMDPOTVNPEF
MPTIPOHPTNFEJDJOBMFT
"TQFDUPTDFSFNPOJBMFT
&MQBQFMDFSFNPOJBMPSFMJHJPTPRVFUJFOFOMPTIPOHPTTJMWFTUSFTFOEJGFSFOUFTDVMUVSBT
FTUÃFTUSFDIBNFOUFBTPDJBEPDPOTVTQSPQJFEBEFTBMVDJOÓHFOBT&TUPIBBUSBÎEPNVDIP
JOUFSÊTFOHFOFSBMZEFTEFFMQVOUPEFWJTUBDJFOUÎGJDPQBSUJDVMBSNFOUFFO.ÊYJDP%BWJT
3JFEMJOHFS
%FTEFFMQVOUPEFWJTUBHFOFSBMFMVTPEFIPOHPTTJMWFTUSFTFT
EFJNQPSUBODJBNFOPSPJOFYJTUFOUFFOMBNBZPSQBSUFEFMPTQBÎTFT
-"$0.&45*#*-*%"%:-04)0/(047&/&/0404
.VDIPT NBDSPNJDFUPT OP UJFOFO WBMPS OVUSJUJWP P TJNQMFNFOUF OP TPO DPNFTUJCMFT
&TUPT HSVQPT TJO WBMPS BTÎ EFGJOJEPT QPS TV DBSBDUFSÎTUJDB EF OP DPNFTUJCJMJEBE
TPO
FOPSNFT DPNQBSBEPT DPO FM NJOÙTDVMP OÙNFSP EF FTQFDJFT UÓYJDBT P WFOFOPTBT EF
MBT DVBMFT FYJTUF VO OÙNFSP BÙO NÃT SFEVDJEP EF FTQFDJFT MFUBMFT 5BNCJÊO FT DJFSUP
RVFFTUFSFEVDJEPOÙNFSPEFFTQFDJFTMFUBMFTIBNPMEFBEPEFNBOFSBTJHOJGJDBOUFMBT
$BSBDUFSÎTUJDBTCJPMPHÎBFDPMPHÎBVTPTDVMUJWBDJÓO
BDUJUVEFTEFDPOTVNPEFIPOHPTTJMWFTUSFTDSFBOEPCBSSFSBTQPUFODJBMFTBMBFYUFOTJÓO
EFTVDPNFSDJPFONVDIPTMVHBSFT
&M DPOPDJNJFOUP EFM OPNCSF DJFOUÎGJDP EF VO IPOHP QSPQPSDJPOB VOB CVFOB
JOEJDBDJÓOTPCSFTVDPNFTUJCJMJEBE&OBMHVOPTDBTPTFTTVGJDJFOUFFMOPNCSFHFOÊSJDP
UPEBTMBTFTQFDJFTDPOPDJEBTDPNP$BOUIBSFMMVTTPODPNFTUJCMFTBVORVFOPUPEBTTPO
FYRVJTJUBT
1PSFMDPOUSBSJPMPT"NBOJUBTDPOUJFOFOUBOUPFTQFDJFTEFTBCPSFYRVJTJUP
DPNPFTQFDJFTWFOFOPTBTPNPSUBMFT-BÙOJDBHVÎBGJEFEJHOBEFTVDPNFTUJCJMJEBEFT
FM DPOPDJNJFOUP EF RVF BMHVJFO IB DPNJEP VO UJQP QBSUJDVMBS Z IB TPCSFWJWJEP -BT
QSÃDUJDBTZQSFGFSFODJBTMPDBMFTTPOQPSMPUBOUPPUSBGVFOUFEFJOGPSNBDJÓOÙUJM
)BZ JOGPSNFT DPOUSBEJDUPSJPT FO MBT HVÎBT EF DBNQP TPCSF MB DPNFTUJCJMJEBE
"MHVOBT SFDPNJFOEBO FM DPOTVNP EF FTQFDJFT RVF PUSBT DPOTJEFSBO WFOFOPTBT -B
QPCMBDJÓOEFMFTUFEF'JOMBOEJBBQSFDJBFMiDIJDIBSSÓOEFMNPOUFuViIPOHPCPOFUFu
(ZSPNJUSBFTDVMFOUB
DPNPVOCPDBEPFYRVJTJUPVOBWF[RVFIBTJEPDVJEBEPTBNFOUF
DPDJOBEP-BTHVÎBTEF&TUBEPT6OJEPTZEFPUSPTQBÎTFTBGJSNBOFOGÃUJDBNFOUFRVFFTUF
IPOHPFTWFOFOPTPZRVFOPEFCFSÎBTFSDPNJEP0USPTFKFNQMPTDPOUSBEJDUPSJPTFTUÃO
FOVNFSBEPTFOFM$VBESP
{$VÈMFTFTQFDJFTTFDPNFO
-PTJOGPSNFTTPCSFMBTFTQFDJFTDPNFTUJCMFTZWFOFOPTBTTFCBTBOFO
MBTGVFOUFTFOVNFSBEBT
-BQSFDJTJÓOEFFTUBJOGPSNBDJÓOSFTJEFFOFTUBTGVFOUFTPSJHJOBMFT
)BTJEPSFHJTUSBEPVOUPUBMEFFTQFDJFTiDPNFTUJCMFTuZEFiBMJNFOUPuFOQBÎTFT
$VBESP -BT FTQFDJFT DPNJEBT FO VO QBÎT P SFHJÓO HFOFSBMNFOUF EJGJFSFO EF MBT
ÃSFBT WFDJOBT Z FO BMHVOPT DBTPT IBZ DBNCJPT ESÃTUJDPT FO MB USBEJDJÓO -B USBEJDJÓO
NFTPBNFSJDBOBEFDPNFSIPOHPTTJMWFTUSFTWBNÃTBMMÃEF.ÊYJDPZMMFHBIBTUBFMFTUF
EF(VBUFNBMBFTJOFYJTUFOUFFOMBNBZPSQBSUFEF)POEVSBTZEF/JDBSBHVBBVORVF
BNCPTQBÎTFTDPOUJFOFOÃSFBTEFCPTRVFTRVFUFÓSJDBNFOUFUPMFSBOMBQSPEVDDJÓOEF
IPOHPTDPNFTUJCMFT
&MOÙNFSPEFFTQFDJFTDPNJEBTFTBWFDFTTÓMPVOBGSBDDJÓOEFUPEBTMBTFTQFDJFT
EJTQPOJCMFT4ÓMPEFFTQFDJFTDPNFTUJCMFTFO"SNFOJBTFDPOTVNFOSFHVMBSNFOUF
/BOBHVZMBO DPNVOJDBDJÓO QFSTPOBM &EJCMF GVOHJ JO "SNFOJB
&O EPT [POBT
EF5VSRVÎBFSBOSFDPMFDUBEBTZDPNJEBTTÓMPEFMBTQPTJCMFTFTQFDJFTDPNFTUJCMFT
:JMNB[0EFSF*TJMPHMV
-BTSB[POFTEFFTUPTEJGFSFOUFTNPEFMPTEFVTPOPTPO
TJFNQSFDMBSBTQFSPIBZVOBUFOEFODJBIBDJBVOBNFOPSGSFDVFODJBEFVTPDVBOEPMBT
QPCMBDJPOFTBCBOEPOBOFMDBNQP-BQPCMBDJÓOSVSBMEF(VBUFNBMBUJFOFVOBBDUJUVE
QPTJUJWB IBDJB FM DPOTVNP EF IPOHPT TJMWFTUSFT RVF MPT IBCJUBOUFT EF MBT DJVEBEFT OP
UJFOFO -PXZ -BT QFSTPOBT JOTUSVJEBT RVF WJWFO FO MPT QVFCMPT EF .BMBXJ
QJFSEFOMBTGVFSUFTUSBEJDJPOFTMPDBMFTRVFNBOUJFOFOMBTDPNVOJEBEFTSVSBMFTZBEPQUBO
VOBBDUJUVESFDFMPTBDPOMPTIPOHPTTJMWFTUSFT-PXPSFZ#PB
&OQBSUFTEFMB3FQÙCMJDB6OJEBEF5BO[BOÎBMPTCPMFUPTTFDPOTJEFSBOWFOFOPTPT
)ÅSLÕOFO 4BBSJNÅLJ Z .XBTVNCJ B
&O $PMPNCJB BQBSFOUFNFOUF OP FYJTUF
USBEJDJÓOEFDPOTVNPEFIPOHPTTJMWFTUSFTFOMBTSFHJPOFTBOEJOBTBVORVFDSFDFOQPS
EPRVJFS'SBODP.PMBOP"MEBOB(ÓNF[Z)BMMJOH
&M5SJDIPMPNBNBUTVUBLF
FSBEFQPDPJOUFSÊTDVMUVSBMMPDBMFO4JDIVBO$IJOB8JOLMFS
BOUFTEFMBEFNBOEB
KBQPOFTBRVFFTUJNVMÓFMDPNFSDJPEFFYQPSUBDJÓOBGJOBMFTEFMBEÊDBEBEFMPTPDIFOUBZ
RVFQBSFDFIBCFSDBVTBEPVONBZPSDPOTVNPBFTDBMBMPDBM6OBDPOUFDJNJFOUPBOÃMPHP
TVDFEJÓ FO FM 1BDÎGJDP /PSPFTUF EF &TUBEPT 6OJEPT DPO FM 5SJDIPMPNB NBHOJWFMBSF
3FEIFBE
&SBSFDPMFDUBEPZDPOTVNJEPQPSMPTDPMPOPTKBQPOFTFTFOMPTBÒPT
USFJOUB;FMMFSZ5PHBTIJ
QFSPFOMBBDUVBMJEBETFWFDPOQPDPBWFDFTJOFYJTUFOUF
JOUFSÊT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
(ÏOFSPTJNQPSUBOUFTEFIPOHPTTJMWFTUSFTDPODPNFOUBSJPTTPCSFTVTVTPTZTVDPNFSDJBMJ[BDJØO
*OGPSNBDJØO PCUFOJEB QSJODJQBMNFOUF EF MPT QBÓTFT FO EFTBSSPMMP 7FB XXXXJMEVTFGVMGVOHJPSH QBSB NBZPSFT EFUBMMFT TPCSF MPT
SFHJTUSPTJOEJWJEVBMFTQPSFTQFDJFTZQPSQBÓTFTi"MJNFOUPwTJHOJGJDBFMVTPDPOGJSNBEPEFMBTFTQFDJFTiDPNFTUJCMFTwFTVOBDBSBDUFSÓTUJDB
PCTFSWBEBTJORVFTVDPOTVNPIBZBTJEPOFDFTBSJBNFOUFDPOGJSNBEP&MOÞNFSPUPUBMEFFTQFDJFTDPNFTUJCMFTFOMBTVNBEFBNCPTEBUPT&MiVTPw
TFSFGJFSFBMPTQBÓTFTEFPSJHFOZOPBMPTEFFYQPSUBDJØOi.FEJDJOBMwANFE
FTVOBQSPQJFEBEDBSBDUFSÓTUJDBZOPDPOGJSNBFMVTPEFFTQFDJFTQPS
SB[POFTEFTBMVE-BTFTQFDJFTDPNFTUJCMFTQVFEFOUFOFSQSPQJFEBEFTNFEJDJOBMFTZQPSFTPFMUPUBMEFFTQFDJFTFOOFHSJMMBTQVFEFTFSNFOPSRVFMB
TVNBEFMPTVTPTJOEJWJEVBMFT7FBFO-JODPGG
MBEJTUSJCVDJØOEFVOHSVQPJNQPSUBOUFEFIPOHPTDPNFTUJCMFTBMSFEFEPSEFMNVOEP
(²/&30
/¡%&
0#4&37"$*0/&4
&41&$*&4 640 :
1301*&%"%&4
"HBSJDVT
BMJNFOUP
DPNFTUJCMF
NFE
"NBOJUB
BMJNFOUP
DPNFTUJCMF
"VSJDVMBSJB
NFE
BMJNFOUP
DPNFTUJCMF
NFE
#PMFUVT
BMJNFOUP
DPNFTUJCMF
NFE
$BOUIBSFMMVT
BMJNFOUP
DPNFTUJCMF
$PSEZDFQT
NFE
{DPNFTUJCMF NFE
$PSUJOBSJVT
BMJNFOUP
DPNFTUJCMF
-BDDBSJB
NFE
BMJNFOUP
DPNFTUJCMF
-BDUBSJVT
NFE
BMJNFOUP
DPNFTUJCMF
NFE
-FDDJOVN
BMJNFOUP
DPNFTUJCMF
-FOUJOVMB
BMJNFOUP
DPNFTUJCMF
NFE
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPFTDBTBNFOUFSFQPSUBEP
BVORVFTFOPUBVOBQPTJCMFDPOGVTJØOFOUSFMBTGVFOUFTTPCSFMBTFTQFDJFTTJMWFTUSFTZMBT
DVMUJWBEBT
-BTFTQFDJFT"HBSJDVTTFSFDPMFDUBOSFHVMBSNFOUFFOTVBNCJFOUFOBUVSBMQFSPTØMPTF
FYQPSUBOMBTDVMUJWBEBT"MHVOBTFTQFDJFTTPOWFOFOPTBT"CJTQPSVTFTFMIPOHPDPNFTUJCMF
NBZPSNFOUFDVMUJWBEP"CMB[FJFTVOIPOHPNFEJDJOBMRVFTFFYQPSUBEF#SBTJMB+BQØOZTF
DVMUJWBZWFOEFFO$IJOB
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPFTDBTBNFOUFSFQPSUBEP
-PT"DBFTBSFBTPOBMUBNFOUFWBMPSJ[BEPTFOQBÓTFTUBMFTDPNP.ÏYJDP5VSRVÓBZ/FQBM
1PDBTFTQFDJFTTPODPNFSDJBMJ[BEBTNÈTBMMÈEFMBTGSPOUFSBTOBDJPOBMFT)BZVOCVFOOÞNFSP
EFFTQFDJFTWFOFOPTBT-BT"QIBMMPJEFTTPOVOBEFMBTNBZPSFTDBVTBTEFNVFSUFFOFM
NVOEPQPSDPOTVNPEFIPOHPTTJMWFTUSFT
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPFTDBTBNFOUFSFQPSUBEP
&TVOHÏOFSPNVOEJBMDPOVOOÞNFSPSFMBUJWBNFOUFCBKPEFFTQFDJFT$POPDJEPT
HFOFSBMNFOUFDPNPiIPOHPTPSFKBwTPOQBSUJDVMBSFTGÈDJMNFOUFSFDPOPDJCMFTZDPOTVNJEPT
QPSMPTIBCJUBOUFTEFMPTCPTRVFTEF,BMJNBOUBOZQPSMBTDPNVOJEBEFTSVSBMFTFOUPEPT
MPTDPOUJOFOUFT"MHVOBTFTQFDJFTQPTFFOQSPQJFEBEFTNFEJDJOBMFT)BZNBZPSDPNFSDJP
EFFTQFDJFTDVMUJWBEBTBVORVFTFEJTQPOFEFQPDPTEBUPT-BTFTQFDJFTQSJODJQBMFTTPO
""VSJDVMBKVEBF
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPFTDBTBNFOUFSFQPSUBEP
-BFTQFDJFNÈTDPOPDJEBFTFM#FEVMJTSFHVMBSNFOUFSFDPMFDUBEBZWFOEJEBZBNQMJBNFOUF
JNQPSUBEBFOZGVFSBEFMDPOUJOFOUFFVSPQFP)BZBMHVOBTFTQFDJFTWFOFOPTBTQFSPQPDPT
BDDJEFOUFTi#PMFUPwFTVOBEFTDSJQDJØOHFOFSBMEFVONBDSPNJDFUPDPOUBMMPZQPSPTFOMB
QBSUFJOGFSJPSEFMTPNCSFSP&YJTUFNVDIPUFNPSTPCSFFMDPOTVNPEFCPMFUPTFOFMFTUFZTVS
EF«GSJDB
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPFTDBTBNFOUFSFQPSUBEP
6OHÏOFSPEJWFSTPZDPTNPQPMJUBDPOVOBHSBODBOUJEBEEFFTQFDJFTUBMFTDPNPFM$DJCBSJVT
&TWFOEJEPFOMPTNFSDBEPTEFNVDIPTQBÓTFTBWFDFTFONF[DMBTGVODJPOBMFTEFEJGFSFOUFT
FTQFDJFT&OPSNFTDBOUJEBEFTTPOSFDPMFDUBEBTZFYQPSUBEBTFOUPEPFMNVOEP/PUJFOF
FTQFDJFTWFOFOPTBT
&TQFDJFTÞUJMFTQSJODJQBMNFOUFNFEJDJOBMFT
SFQPSUBEBTEFUSFTQBÓTFT
&TUBFTQFDJFTFiDPNFwÞOJDBNFOUFQPSTVTCFOFGJDJPTQBSBMBTBMVE&TSFDPMFDUBEP
JOUFOTBNFOUFFO[POBTEF$IJOBZFONFOPSDBOUJEBEFO/FQBM.VDIBTFTQFDJFTEFTDSJUBT
TPOEFM+BQØOQFSPTVVTPMPDBMFTJODJFSUP"MUBNFOUFWBMPSJ[BEPQPSTVTQSPQJFEBEFT
NFEJDJOBMFTZDPNPGVFOUFEFCFOFGJDJPTFDPOØNJDPTJNQPSUBOUFTQBSBMPTSFDPMFDUPSFT-BT
QSJODJQBMFTFTQFDJFTQSPCBCMFNFOUFTPO$TJOFOTJTZ$.JMJUBSJT
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPUSFTFTDBTBNFOUFSFQPSUBEP
"NQMJBNFOUFEJTHSFHBEPTFO&VSPQBZ/PSUFBNÏSJDBEFCJEPBMBDBVUFMBQPSMBTFTQFDJFT
WFOFOPTBT-BNBZPSQBSUFEFMPTJOGPSNFTTPCSFFMVTPMPDBMFTUÈOSFTUSJOHJEPTBVOPT
DVBOUPTQBÓTFTFOUSFPUSPT$IJOB+BQØO'FEFSBDJØO3VTBZ6DSBOJB/PTFDPOPDFDPNFSDJP
EFFYQPSUBDJØO
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPDVBUSPFTDBTBNFOUFSFQPSUBEP
3FHVMBSNFOUFSFDPMFDUBEBZDPOTVNJEB7FOEJEBBNQMJBNFOUFFOMPTNFSDBEPT/PTFDPOPDF
DPNFSDJPEFFYQPSUBDJØOMPRVFOPOPTTPSQSFOEFTJBOBMJ[BNPTTVUBNB×PQFRVF×PZTV
TBCPSQPDPJOUFSFTBOUF-BFTQFDJFQSJODJQBMFTMB-MBDDBUB
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPFTDBTBNFOUFSFQPSUBEP
4FSFDPMFDUBOZDPOTVNFODPOGSFDVFODJBNVDIBTFTQFDJFTEJGFSFOUFT-BTFTQFDJFTQSJODJQBMFT
UBMFTDPNPMPT-EFMJDJPTVTTPOBQFUFDJEBTFOPSNFNFOUFZIBZVONFSDBEPJNQPSUBOUF
FO&VSPQB.VDIBTFTQFDJFTDMBWFTPOWFOEJEBTGSFDVFOUFNFOUFFOMPTNFSDBEPTMPDBMFT
4FSFQPSUBQPDBBDUJWJEBEEFFYQPSUBDJØOBQFTBSEFTVBNQMJBQPQVMBSJEBEUBMWF[QPSMB
EJWFSTJEBEEFFTQFDJFTRVFPGSFDF
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFPDIPQBÓTFTDPNPBMJNFOUPEPT
.VZSFDPMFDUBEPTZDPOTVNJEPTDPOQPDPDPNFSDJPGVFSBEFMBTGSPOUFSBT-BFTQFDJFQSJODJQBM
FTMB-4DBCSVN1PTJCMFTFYQPSUBDJPOFTEFTEFMPTCPTRVFTEFQJOPTUSPQJDBMFTQFSPTPOQPDP
DPOPDJEPT
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFTFJTQBÓTFTDPNPBMJNFOUPDVBUSP
-FOUJOVMBFEPEFTFTMBFTQFDJFQSJODJQBM-FOUJOVTFEPEFT
NFKPSDPOPDJEBDPNPTIJJUBLF
DVMUJWBEBFONVDIPTQBÓTFTZEFJNQPSUBODJBDPNFSDJBMDFSDBEFMEFMUPUBMDVMUJWBEP
-PT
TIJJUBLFTDVMUJWBEPTTPOFYQPSUBEPT
$BSBDUFSÎTUJDBTCJPMPHÎBFDPMPHÎBVTPTDVMUJWBDJÓO
-FOUJOVT
BMJNFOUP
DPNFTUJCMF
-ZDPQFSEPO
NFE
BMJNFOUP
DPNFTUJCMF
.BDSPMFQJPUB
NFE
BMJNFOUP
DPNFTUJCMF
.PSDIFMMB
NFE
BMJNFOUP
DPNFTUJCMF
1MFVSPUVT
NFE
BMJNFOUP
DPNFTUJCMF
1PMZQPSVT
NFE
BMJNFOUP
DPNFTUJCMF
3BNBSJB
NFE
BMJNFOUP
DPNFTUJCMF
3VTTVMB
NFE
BMJNFOUP
DPNFTUJCMF
NFE
4VJMMVT
BMJNFOUP
DPNFTUJCMF
5FSGF[JB
NFE
BMJNFOUP
DPNFTUJCMF
5FSNJUPNZDFT
BMJNFOUP
DPNFTUJCMF
NFE
5SJDIPMPNB
BMJNFOUP
DPNFTUJCMF
NFE
5VCFSUSVGBT
BMJNFOUP
DPNFTUJCMF
7PMWBSJFMMB
BMJNFOUP
DPNFTUJCMF
NFE
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPPDIPFTDBTBNFOUFSFQPSUBEP
4FSFDPMFDUBOZDPOTVNFOMPDBMNFOUFNVDIBTFTQFDJFTEJGFSFOUFTQFSPTØMPEPTPUSFTEFFMMBT
TPOJNQPSUBOUFT-BFTQFDJFQSJODJQBMFTQSPCBCMFNFOUFFM-UVCFSSFHJVNWBMJPTPQPSTVT
QSPQJFEBEFTNFEJDJOBMFT$PNFSDJPEFFYQPSUBDJØOQPDPPJOFYJTUFOUF
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPTJFUFFTDBTBNFOUFSFQPSUBEP
)BZNVDIPTSFHJTUSPTEFFTQFDJFTEFVTPDPNFTUJCMFQFSPMPTJOGPSNFTUÓQJDPTTPOEF
SFDPMFDDJØOZVTPFOQFRVF×BFTDBMB-PTÞOJDPTNFSDBEPTDPOPDJEPTFTUÈOFO.ÏYJDP-BT
FTQFDJFTQSJODJQBMFTTPO-QZSJGPSNFZ-QFSMBUVN
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPOVFWFFTDBTBNFOUFSFQPSUBEP
.QSPDFSBFTMBFTQFDJFQSJODJQBMZNBZPSNFOUFSFHJTUSBEBFOVOPTQBÓTFTEFUPEPT
MPTDPOUJOFOUFT4FDPOTVNFFOMBMPDBMJEBEZTVNFSDBEPFTGVOEBNFOUBMNFOUFMPDBMZFO
QFRVF×BFTDBMB
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPFTDBTBNFOUFSFQPSUBEP
(ÏOFSPBMUBNFOUFWBMPSJ[BEPDPONVDIBTFTQFDJFTRVFDSFDFOFOBCVOEBODJBEVSBOUF
BMHVOPTB×PTZTPOVOBGVFOUFQSJODJQBMEFCFOFGJDJPTFDPOØNJDPTQPSTVTFYQPSUBDJPOFT
IBDJBWBSJPTQBÓTFT
/PTJFNQSFTFDPOTVNFOFOMPTQBÓTFTEFSFDPMFDDJØO-BFTQFDJFQSJODJQBM
FTMB.FTDVMFOUB
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPFTDBTBNFOUFSFQPSUBEP
-BFTQFDJFQSJODJQBMFTMB10TUSFBUVTFOUÏSNJOPTEFDBOUJEBEDPOTVNJEBQSJODJQBMNFOUF
EFDVMUJWBDJØO0USBTFTQFDJFTTFDPOTJEFSBONÈTTBCSPTBT$SFDFOFOWBSJPTBNCJFOUFTZTPO
SFDPMFDUBEBTSFHVMBSNFOUFBVORVFSBSBTWFDFTTFDPNFSDJBMJ[BOMBTFTQFDJFTTJMWFTUSFT
&TQFDJFTDPNFTUJCMFTZNFEJDJOBMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPPNFEJDJOBTJFUF
.VDIBTFTQFDJFTTPOVTBEBTZDPNJEBTDPOSFHVMBSJEBEQFSPTPOSFMBUJWBNFOUFEFNFOPS
JNQPSUBODJB"MHVOBTTPODVMUJWBEBT4ØMPVOSFHJTUSPDPOPDJEPEFWFOUBFOFMNFSDBEP
QSPWFOJFOUFEF/FQBM/PTFDPOPDFDPNFSDJPJOUFSOBDJPOBM
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPTJFUF
)BZNVDIPTSFHJTUSPTEFTVVTPMPDBM/PSNBMNFOUFWFOEJEPTFONFSDBEPTFO/FQBM.ÏYJDP
ZPUSPTMVHBSFT.VDIBTFTQFDJFTJNQPSUBOUFTQFSPUBMWF[MB3CPUSZUJTFTMBNBZPSNFOUF
SFDPMFDUBEBZVTBEB"MHVOBTFTQFDJFTTPOWFOFOPTBTPUSBTUJFOFOQSPQJFEBEFTNFEJDJOBMFT
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPFTDBTBNFOUFSFQPSUBEP
&TVOPEFMPTHÏOFSPTNÈTBNQMJBNFOUFEJGVOEJEPTZDPOTVNJEPRVFDPOUJFOFNVDIBT
FTQFDJFTDPNFTUJCMFT5JFOFUBNCJÏOWBSJFEBEFTWFOFOPTBTMBNBZPSQBSUFEFMBTDVBMFT
QVFEFOTFSDPNJEBTEFTQVÏTEFIBCFSTJEPDPDJEBT3FHVMBSNFOUFWFOEJEPFONFSDBEPTQFSP
TVTOPNCSFTFTQFDÓGJDPTOPIBOTJEPSFHJTUSBEPTTJFNQSF(ÏOFSPEFPSJHFOUSPQJDBM&OUSFTVT
FTQFDJFTQSJODJQBMFTUFOFNPT3EFMJDBZ3WJSFTDFOT
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPFTDBTBNFOUFSFHJTUSBEP
-BFTQFDJFQSJODJQBMFT4MVUFVTFYQPSUBEPEF$IJMF&M4HSBOVMBUVTFTFMNÈTBNQMJBNFOUF
SFHJTUSBEPBVORVFTVVTPDPNPBMJNFOUPFTMJNJUBEP.VDIBTPUSBTFTQFDJFTTPOSFDPMFDUBEBT
ZDPNJEBTDPOGSFDVFODJBZWBSJBTWFOEJEBTFOMPTNFSDBEPTNFKJDBOPT
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFPDIPQBÓTFTDPNPBMJNFOUPFODVBUSP
-BTiUSVGBTEFMEFTJFSUPwDSFDFOBNQMJBNFOUFFOFMOPSUFEF«GSJDBZBMHVOBT[POBTEF"TJB
4FDPOTJEFSBOJNQPSUBOUFTQFSPTFIBFODPOUSBEPQPDBJOGPSNBDJØOTPCSFTVDPNFSDJPP
WFOUBFOFMNFSDBEP
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPFTDBTBNFOUFSFQPSUBEP
6OHÏOFSPBMUBNFOUFFTUJNBEP4FDPOTVNFFOHSBOEFTDBOUJEBEFTNVDIBTFTQFDJFTQPSTV
BMUPWBMPSOVUSJUJWP3FDPMFDUBEPTQSJODJQBMNFOUFFOUPEB«GSJDB6TBEPTBNQMJBNFOUFFO"TJB
QFSPNFOPTEPDVNFOUBEPT&OUSFMBTFTQFDJFTQSJODJQBMFTUFOFNPT5DMZQFBUVT5NJDSPQPSVT
Z5TUSJBUVT&TWFOEJEPFOMPTNFSDBEPTZBPSJMMBTEFMPTDBNJOPTEFQFOFUSBDJØOZFTVOB
CVFOBGVFOUFEFCFOFGJDJPTFDPOØNJDPT
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPFTDBTBNFOUFSFQPSUBEP
-BFTQFDJFNÈTJNQPSUBOUFFTFM5NBUTVUBLFQPSMBTDBOUJEBEFTSFDPMFDUBEBTZQPSTVWBMPS
GJOBODJFSP$IJOBMBTEPT$PSFBTZMB'FEFSBDJØO3VTBTPOMPTNBZPSFTFYQPSUBEPSFTIBDJB
+BQØO&M1BDÓGJDPOPSPFTUFEFMPT&&66.BSSVFDPTZ.ÏYJDPFYQPSUBOFTQFDJFTSFMBDJPOBEBT
QFSPTØMPEFMQSJNFSPFODBOUJEBEFTJNQPSUBOUFT"MHVOBTFTQFDJFTTPOWFOFOPTBTTJTFDPNFO
DSVEBTPUSBTJODMVTPDPDJOBEBTTPOWFOFOPTBT*HOPSBEPPTVCFTUJNBEPFOWBSJPTQBÓTFTBOUFT
EFMBTPQPSUVOJEBEFTEFFYQPSUBDJØOQPSFKFNQMP#IVUÈO.ÏYJDP0BYBDB
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPFTDBTBNFOUFSFQPSUBEP
$POUJFOFFTQFDJFTEFBMUÓTJNPWBMPSZNVZDPEJDJBEBTQBSBMBDPDJOBHBTUSPOØNJDBQFSP
EFCBKÓTJNBJNQPSUBODJBQBSBMBTDPNVOJEBEFTQPCSFTEFM4VS)BZJOUFSÏTFOMBHFTUJØOEF
MBTUSVGBTFO5VSRVÓB4FIBOBQMJDBEPQSJODJQJPTDJFOUÓGJDPTFOTVHFTUJØOZTFIBOJOJDJBEP
FTRVFNBTEFÏYJUPFO*UBMJB'SBODJB&TQB×BZ/VFWB;FMBOEB-BTiGBMTBTUSVGBTwDPNQSFOEFO
PUSPTHÏOFSPTFOUSFMPTDVBMFT5JSNBOJB3IJ[PQPHPO5FSGF[JB
&TQFDJFTDPNFTUJCMFTSFQPSUBEBTEFQBÓTFTDPNPBMJNFOUPTJFUFFTDBTBNFOUFSFQPSUBEP
BVORVFFYJTUFVOBQPTJCMFDPOGVTJØOFOUSFMBTFTQFDJFTEFPSJHFOTJMWFTUSFZMBTDVMUJWBEBT
-BFTQFDJFQSJODJQBMFT7WPMWBDFB"NQMJBNFOUFDVMUJWBEBZWFOEJEBFOMPTNFSDBEPTMPDBMFT
QFSPUBNCJÏOSFDPMFDDJPOBEBFOTVIÈCJUBUOBUVSBM
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
)POHPTDPOJOGPSNFTDPOGMJDUJWPTTPCSFTVDPNFTUJCJMJEBE
/0.#3&$*&/5¶'*$0
0#4&37"$*0/&4
"HBSJDVTBSWFOTJT
3FQPSUBEPGVOEBNFOUBMNFOUFDPNPDPNFTUJCMFZDPOTVNJEPFO.ÏYJDPTF
EJDFUBNCJÏORVFFTVOJSSJUBOUFHBTUSPJOUFTUJOBM-JODPGGZ.JUDIFM
"HBSJDVTTFNPUVT
4FDPOTJEFSBDPNFTUJCMFFO)POH,POH$IBOHZ.BP
PUSBTGVFOUFTMP
DPOTJEFSBOWFOFOPTP3BNNFMPPZ8BMMFZO
"NBOJUBTQJTTB
7BSJPTJOGPSNFTBGJSNBORVFQVFEFTFSDPNJEPBVORVFFOOJOHVOPTFMFEB
FMTUBUVTEFiBMJNFOUPw
JHVBMOÞNFSPEFJOGPSNFTMPDPOTJEFSBOWFOFOPTP
QPSFKFNQMP$IBOHZ.BP
"NBOJUBGMBWPDPOJB
7FSTJPOFTDPOGMJDUJWBTEFTEF.ÏYJDPVOJOGPSNFMPDPOTJEFSBDPNFTUJCMFPUSP
WFOFOPTP
"NBOJUBHFNNBUB
$BUBMPHBEPDPNPDPNFTUJCMFFO.ÏYJDPZ$PTUB3JDBQFSPJNQMJDBEPFOVO
DBTPEFFOWFOFOBNJFOUPFO(VBUFNBMB-PHFNBOOFUBM
#PMFUVTDBMPQVT
$PNFTUJCMFFOFMMFKBOPFTUFEF3VTJB7BTJMFWB
DPOTJEFSBEPWFOFOPTP
FO&TMPWFOJBXXXNBULVSKBDPN
ZFOPUSBTHVÓBTEFDBNQP
$IMPSPQIZMMVNNPMZCEJUFT
.VDIPTJOGPSNFTDPOGJSNBORVFFTVOBFTQFDJFWFOFOPTBQFSPUBNCJÏOTF
DPOTJEFSBDPNFTUJCMFFO.ÏYJDP7JMMBSSFBMZ1ÏSF[.PSFOP
Z#FOJO%F
,FTFM$PEKJBZ:PSPV
%FGÈDJMDPOGVTJØODPOMB.BDSPMFQJPUBQSPDFSB
VOBFTQFDJFDPNFTUJCMFCBTUBOUFDPOPDJEB
$PQSJOVTBGSJDBOVT
$PNJEPFO/JHFSJB0TP
PUSPTJOGPSNFTMPDPOTJEFSBOWFOFOPTPFO
«GSJDB8BMMFZOZ3BNNFMPP
$PQSJOVTBUSBNFOUBSJVT
$PNFTUJCMFTØMPFOBVTFODJBEFBMDPIPMQSPEVDFFGFDUPTEFTBHSBEBCMFTTJFT
DPOTVNJEPNJFOUSBTTFJOHJFSFBMDPIPMMPRVFJOEJDBRVFFTQPUFODJBMNFOUF
WFOFOPTP-JODPGGZ.JUDIFM
(ZSPNJUSBFTDVMFOUB
&O'JOMBOEJBFTDPOTJEFSBEPVOBFYRVJTJUF[)ÊSLÚOFO
ZUBNCJÏOFT
BNQMJBNFOUFDPOTVNJEPFOMB'FEFSBDJØOEF3VTJBZSFHJPOFTBMFEB×BT&O
PUSPTQBÓTFTTFDPOTJEFSBWFOFOPTPZQVFEFNBUBSTJFTDPOTVNJEPDSVEP
)BMMFUBMB
-BTQSPQJFEBEFTUØYJDBTTFQVFEFONJUJHBSQPSNFEJPEF
VOBQSFQBSBDJØOBEFDVBEBBOUFTEFTVDPOTVNP
(ZSPNJUSBJOGVMB
$PNJEPFO.ÏYJDPXXXTFNBSOBUHPCNY
QFSPUBNCJÏOSFQPSUBEPDPNP
WFOFOPTP-JODPGGZ.JUDIFM
)FMWFMMBMBDVOPTB
"NQMJBNFOUFDPOTVNJEPQFSPUBNCJÏOSFQPSUBEPDPNPUØYJDPTJDPOTVNJEP
DSVEP-JODPGGZ.JUDIFM
-BDUBSJVTQJQFSBUVT
.VDIPTJOGPSNFTMPDPOTJEFSBODPNFTUJCMFZFTDPOGJSNBEPDPNPBMJNFOUP
FO5VSRVÓB$BHMBSJSNBL6OBMZ0UMFT
QFSPUBNCJÏODPOTJEFSBEP
WFOFOPTPFO$IJOB-JVZ:BOH
-BDUBSJVTUPSNJOPTVT
.VDIPTJOGPSNFTMPDPOTJEFSBODPNFTUJCMFQFK.BMZJ
PUSPTMP
DPOTJEFSBOWFOFOPTP)BMMFUBMB
-BNQUFSPNZDFTKBQPOJDVT
$BVTBDPNÞOEFFOWFOFOBNJFOUPFO+BQØO)BMMFUBMB
1FSPQPTFF
UBNCJÏOQSPQJFEBEFTNFEJDJOBMFT)PCCT
-FO[JUFTFMFHBOT
$POTVNJEPFOMB3FQÞCMJDB6OJEBEF5BO[BOÓB3BNNFMPPZ8BMMFZO
QFSPUBMWF[WFOFOPTPFOMB3FQÞCMJDB%FNPDSÈUJDBEFM$POHP8BMMFZOZ
3BNNFMPP
-FQJPUBDMZQFPMBSJB
$PNFTUJCMFFO.ÏYJDPZFOMB3FHJØO"ENJOJTUSBUJWB&TQFDJBMEF)POH,POH
$IJOBQFSPFTUBNCJÏODPOTJEFSBEPWFOFOPTP
.PSDIFMMBFTDVMFOUB
$PNPMPTEFNÈTIPOHPTDPMNFOJMMBTFDPOTJEFSBWFOFOPTPTJFTDPOTVNJEP
DSVEP-JODPGGZ.JUDIFM
$PNFTUJCMFZFYRVJTJUPDVBOEPDPDJOBEP
1BYJMMVTJOWPMVUVT
"NQMJBNFOUFDPOTJEFSBEPWFOFOPTPQFSPFOFMMFKBOPPSJFOUFSVTP
7BTJMFWB
TFEJDFRVFQVFEFTFSDPNJEPEFTQVÏTEFVOBBEFDVBEB
QSFQBSBDJØO
1IBMMVTJOEVTJBUVT
3FQPSUBEPDPNPDPNFTUJCMF#PVSJRVFU
ZWFOFOPTP8BMMFZOZ
3BNNFMPP
BNCPTJOGPSNFTTPOEF.BEBHBTDBS
1PEBYJTQJTUJMMBSJT
3FQPSUBEPDPNPDPNFTUJCMFEFTEF*OEJBIBTUB1BLJTUÈO#BUSB
$POTJEFSBEPWFOFOPTPFO/JHFSJB8BMMFZOZ3BNNFMPP
QSPQJFEBEFT
NFEJDJOBMFT)PCCT
3BNBSJBGPSNPTB
$PNFTUJCMFFO/FQBM"EIJLBSJZ%VSSJFV
QFSPDPOTJEFSBEPWFOFOPTP
FONVDIPTPUSPTQBÓTFTJODMVZFOEP#VMHBSJB*PSEBOPW7BOFWZ'BLJSPWB
3VTTVMBFNFUJDB
*OEJTDVUJCMFNFOUFWFOFOPTPTJDPNJEPDSVEPQFSPDPOTJEFSBEPDPNFTUJCMFFO
.ÏYJDP;BNPSB.BSUÓOF["MWBSBEPZ%PNÓOHVF[
ZFOFMPSJFOUFSVTP
7BTJMFWB
4USPQIBSJBDPSPOJMMB
3FQPSUFTDPOGMJDUJWPTFO.ÏYJDPTFDPOTJEFSBDPNFTUJCMF7JMMBSSFBMZ1ÏSF[
.PSFOP
ZWFOFOPTP"SPDIFFUBM
4VJMMVTQMBDJEVT
$POTJEFSBEPDPNFTUJCMF7BTJMFWB
ZWFOFOPTP$IBOHZ.BP
5SJDIPMPNBQFTTVOEBUVN
$PNFTUJCMFFO)POH,POH$IBOHZ.BP
QFSPFM5QFTTVOEBUVN
WBSJFEBE.POUBOVNFTDPOTJEFSBEPWFOFOPTPFODVBMRVJFSPUSPMBEP-JODPGG
Z.JUDIFM
5SJDIPMPNBTVMQIVSFVN
5PEPTMPTSFHJTUSPTMPDPOTJEFSBOWFOFOPTPNFOPTVOBWFSTJØOEF*OEJBRVFMP
DPOTJEFSBDPNFTUJCMF1VSLBZBTUIBZ$IBOESB
$BSBDUFSÎTUJDBTCJPMPHÎBFDPMPHÎBVTPTDVMUJWBDJÓO
-BTFTQFDJFTWFOFOPTBT
6OBOÃMJTJTEFMPTFQJTPEJPTEFFOWFOFOBNJFOUPFOMBTQVCMJDBDJPOFTPGJDJBMFTFJOGPSNBMFT
NVFTUSBRVFMBGSFDVFODJBEFUBMFTFWFOUPTZTVFGFDUPFOMPTTFSFTIVNBOPTFTNFOPSEF
MPRVFTVHJFSFMBQVCMJDJEBEBMSFTQFDUP-PHFNBOOFUBM
%VSBOUFMBCÙTRVFEBEF
JOGPSNBDJÓOTPCSFMPT)4$GVFSPOOPUBEBTVOBTFTQFDJFTWFOFOPTBT-BNBZPSÎBEF
FTUBTFTUÃOSFMBDJPOBEBTDPOMBTFTQFDJFTDPNFTUJCMFTPTFDPOGVOEFODPOÊTUBT)BZQPS
TVQVFTUPVOQFMJHSPSFBMFOMBSFDPMFDDJÓOZDPOTVNPEFIPOHPTWFOFOPTPTTJUVBDJÓO
RVF EFCFSÎB TFS BOBMJ[BEB DPNQBSÃOEPMB DPO FM BNQMJP PSJHFO EF NJMMPOFT EF QFSTPOBT
RVFSFDPMFDUBOZDPOTVNFOIPOHPTTJMWFTUSFTEFGPSNBTFHVSBZDPOGSFDVFODJB
.VDIBT FTQFDJFT QPQVMBSFT DPNFTUJCMFT Z BMUBNFOUF BQFUFDJCMFT TPO WFOFOPTBT
DVBOEP FTUÃO DSVEBT 1PDBT QFSTPOBT MBT DPNFO FO FTUBT DPOEJDJPOFT Z FM SJFTHP EF
FOWFOFOBNJFOUP FT SFBMNFOUF CBKP -PT IPOHPT WFOFOPTPT DBNCJBO FO TVT FGFDUPT
EFTEF NBMFTUBSFT FTUPNBDBMFT Z QSPCMFNBT EJHFTUJWPT IBTUB EBÒPT BM PSHBOJTNP -BT
TPMVDJPOFT B FTUPT SJFTHPT QPTJCMFT JODMVZFO FM TVNJOJTUSP EF DPOTFKPT FO MB MPDBMJEBE
TPCSFDVBMFTFTQFDJFTSFDPMFDUBSZDVBMFTFWJUBS*MVTUSBDJÓO
ZDBNQBÒBTQVCMJDJUBSJBT
RVF FWJEFODJFO MBT FTQFDJFT WFOFOPTBT QPTJCMFNFOUF QPS NFEJP EF BGJDIFT &M 4S
4BCJUJ'JEFTVOWFOEFEPSEF.BMBXJFGFDUVÓVOBEFNPTUSBDJÓONVZUSBORVJMJ[BEPSB
DPNJFOEPIPOHPTEJSFDUBNFOUFFOGSFOUFEFTVTDPNQSBEPSFT3FDVBESP
&O 4VEÃGSJDB MPT WFOEFEPSFT BNCVMBOUFT PGSFDFO TPMBNFOUF MBT iFTQFDJFT TFHVSBTu
3ZWBSEFO1JFBSDFZ.BTVLB
ZMBNBZPSQBSUFEFMPTNFSDBEPTTPOVOBGVFOUF
TFHVSBEFJOGPSNBDJÓOTPCSFMPT)4$1VFEFOTVSHJSQSPCMFNBTDPOMBiDPOUBNJOBDJÓOu
FOMPTNFSDBEPTQFSPUBMFTBDDJEFOUFTTPOSBSÎTJNPTWÊBTFFM$VBESP
'JOMBOEJBIBDBQBDJUBEPBTVQFSWJTPSFTNJDÓMPHPTRVFDVCSFOUPEBTMBTÃSFBTSVSBMFT
)ÅSLÕOFO)ÅSLÕOFOZ+ÅSWJOFO
&O/PSVFHBMBiQPMJDÎBTWBNQuDVFSQP
EF JOGPSNBDJÓO Z QSPUFDDJÓO QBSB MPT DJVEBEBOPT BNBOUFT EF MPT IPOHPT
VCJDBEB
FO BMHVOPT DFOUSPT SFTJEFODJBMFT BZVEB B MPT SFDPMFDUPSFT B JEFOUJGJDBS MBT FTQFDJFT
DPNFTUJCMFTZIBZQSPZFDUPTBOÃMPHPTFOPUSPTQBÎTFT
-PTFOWFOFOBNJFOUPTFTUÃOBTPDJBEPTDPOBMHVOPTFWFOUPT
x /JÒPTQFRVFÒPTRVFSFDPMFDUBOJOEJTDSJNJOBEBNFOUFZDPNFOIPOHPTDSVEPT
3&$6"%30
i4JDPNPFTUFCPXBTJHOJGJDBRVFFTQFSGFDUPQBSBMBWFOUBuMFDDJÓOEFNPTUSBUJWB
EFM4S4BCJUJ'JEFTVODPNFSDJBOUFEF.BMBXJ
)BCÎBNPTFTUBEPCVTDBOEPVOUÎQJDPJOUFSNFEJBSJPPNBZPSJTUBEFiCPXBTuZGVFBTÎRVFDPOPDJNPT
BM4S4BCJUJ'JEFTBQFOBTMPTWJNPTOPOPTQBSFDJÓUBOiUÎQJDPuDPNPFTQFSÃCBNPTQFSPFTUBBWFOUVSB
TF SFWFMÓ FYDFQDJPOBM FSB FM úíā ìí ô÷û þíöìíì÷úíû ìí #08"4 &NQF[Ó DPNQSBOEP CPXBT FO
.BDIJOHBZMMFWÃOEPMPTB;PNCBQBSBSFWFOEFSMPTFOMBUFNQPSBEB1FOTBCBFOMBGPSNBEF
HBOBSTFBMHPEFEJOFSPQBSBBZVEBSTFFOFMNBOUFOJNJFOUPEFTVGBNJMJB0CTFSWBCBRVFBGJOBMFTEFMB
KPSOBEBFOMPTQVFTUPTJNQSPWJTBEPTBMPMBSHPEFMPTDBNJOPTEFQFOFUSBDJÓOTFRVFEBCBOTJOWFOEFS
CVFOBTDBOUJEBEFTEFCPXBT&OUPODFTEFDJEJÓDPNQSBSMBTZMMFWBSMBTB;PNCB
1BSB MPHSBS WFOEFS TV QSPEVDUP DBNJOBCB FO MBT ÃSFBT SFTJEFODJBMFT UBMFT DPNP MB FTDVFMB EF
FOUSFOBNJFOUP QBSB QPMJDÎBT MPT CBSSBDPOFT FM $IBODFMMPS $PMMFHF Z MPT TVCVSCJPT UBMFT DPNP
.QPOEB#XJOPZ$IJLBOEBWFOEJFOEPEFDBTBFODBTB"MQSJODJQJPFODPOUSÓRVFMBTBNBTEFDBTB
EFTDPOGJBCBOQFOTBOEPRVFUBMWF[QPESÎBOTFSIPOHPTWFOFOPTPTPOPCVFOPT1BDJFOUFNFOUFJCBB
FNQF[BSBDPOWFODFSBMPTDPNQSBEPSFTQSJODJQBMNFOUFNVKFSFT
BQSPCBSMPTDPNJÊOEPMPTÊMNJTNP
EFMBOUF EF TVT DMJFOUFT QBSB EFNPTUSBS RVF OP FSBO WFOFOPTPT %F FTUF NPEP MB WF[ TJHVJFOUF MPT
EFNÃTQPUFODJBMFTDPNQSBEPSFTJCBOBOPUBSRVFMBTQFSTPOBTRVFIBCÎBODPNQSBEPIPOHPTHP[BCBO
EFCVFOBTBMVEZTFJCBOBEFDJEJSDPNQSBSFMMPTUBNCJÊO1PDPBQPDPGVFDPOTUSVZÊOEPTFVOHSVQP
EFDPNQSBEPSFTGJFMFTRVFBMGJOBMDPNQSBCBOTJOGBMMBS
CPXBIPOHPTJMWFTUSFDPNFTUJCMF
'VFOUF-PXPSFZ#PB
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
&QJTPEJPTEFFOWFOFOBNJFOUPTFOHSBOFTDBMBDBVTBEPTQPSFMDPOTVNPEFIPOHPTTJMWFTUSFT
$)*/"
5PUBM
10-0/*"
/¡%&
/¡%&
.6&35&4
&/7&/&/"%04
-BHFOUFDPNQSØiIPOHPTWFOFOPTPTwFOVONFSDBEP*OGPSNFEFMCVSØTBOJUBSJP
EFMDPOEBEPEF:POHLJVQPSNFEJPEFXXXIDMJOGJOFUDPN
/¡%&
/¡%&
.6&35&4
&/7&/&/"%04
5PUBM
'&%&3"$*»/
%&364*"
0#4&37"$*0/&4
$POEBEPEF/JOHIVBQSPWJODJBEF'VKJBOH-JVZ:BOH
FQJTPEJPT
SFQPSUBEPT%FMBTFTQFDJFTDPOPDJEBTDPNPWFOFOPTBTTPO3VTTVMBTP
"NBOJUBT'VKJBOHUFOÓBVOBQPCMBDJØOEFNJMMPOFTEFIBCJUBOUFTFO
0#4&37"$*0/&4
OT
5PEPTOJ×PTZBTPDJBEPTQSJODJQBMNFOUFBMDPOTVNPEF"NBOJUBQIBMMPJEFT
4VDFEJEPFO1P[OBO-JODPGGZ.JUDIFM
oEFVOBWFSTJØOEF4JNPOT
$POTVNPEF$PSUJOBSJVTPSFMMBOVT-BNQFZ"NNJSBUJ
%FVOFTUVEJPEFFQJTPEJPTTVDFEJEPTEVSBOUFVOQFSÓPEPEFEJF[B×PT-PT
QSJODJQBMFTFOWFOFOBNJFOUPTZNVFSUFTGVFSPODBVTBEPTQPSFMDPOTVNPEF
$PSUJOBSJVTPSFMMBOVT(ZSPNJUSBFTDVMFOUBNVFSUFTFOWFOFOBNJFOUPT
ZQSJODJQBMNFOUF"NBOJUBQIBMMPJEFTNVFSUFTFOWFOFOBNJFOUPT
-JODPGGZ.JUDIFM
CBTBEPFO(S[ZNBMB
/¡%&
/¡%&
.6&35&4
&/7&/&/"%04
0#4&37"$*0/&4
OT
%F1SBWEBEFNBZPEF&TUBCSFWFOPUJDJBEJDFRVFMPTFQJTPEJPT
PDVSSJFSPOQSJODJQBMNFOUFFO3VTJBDFOUSBM
B
OT
5BNCJÏOEF1SBWEBEFNBZPEFZUBNCJÏOFTUBWF[MPTFQJTPEJPT
PDVSSJFSPOFO3VTJBDFOUSBM
C
D
D
"SUÓDVMPEF-PT"OHFMFT5JNFTEFKVMJPEFEJDFRVFiVOJOVTVBMBMUP
OÞNFSPEFNVFSUFTwGVFSFQPSUBEPQPSMBTBVUPSJEBEFTMPDBMFTFO#FMHPSPE
7PSPOF[IZ7PMHPHBE0CMBTUT'VFSPOBTPDJBEPTBMDPOTVNPEF"NBOJUB
QIBMMPJEFTQFSPQVFEFOFTUBSJOWPMVDSBEBTPUSBTFTQFDJFT-BQPMJDÓBQBUSVMMØMPT
CPTRVFTQBSBEFTBMFOUBSMBSFDPMFDDJØOZDPOUSPMØMPTDFTUPTEFMPTSFDPMFDUPSFT
5PUBM
6$3"/*"
/¡%&
/¡%&
.6&35&4
&/7&/&/"%04
"SUÓDVMPEF-PT"OHFMFT5JNFTEFBHPTUPEF4VDFEJØBVOBTNJMMBTEF
.PTDÞ/PTFUJFOFOPUJDJBTEFMBFTQFDJFEFIPOHPTJOWPMVDSBEPT
0#4&37"$*0/&4
"SUÓDVMPEF-PT"OHFMFT5JNFTEFBHPTUPEF-BTFTQFDJFTSFTQPOTBCMFTEFM
FQJTPEJPOPGVFSPONFODJPOBEBT
OT
"TTPDJBUFE1SFTTGFDIBEFTDPOPDJEBXXXHFPDJUJFTDPN:PTFNJUF5SBJMT
OT
*EFN
OT
5PUBM
*EFN
OToOPTF×BMBEP
4VNBDBMDVMBEBVTBOEPVOBSFMBDJØOFTUJNBEBEFEJF[FOWFOFOBNJFOUPTQPSDBEBQFSTPOBRVFNVFSFTVNBEBTFOMPTB×PTFOMPT
DVBMFTIVCPNVFSUPTQFSPOPGVFTF×BMBEPFMOÞNFSPEFQFSTPOBTFOWFOFOBEBTZRVFTFSFTUBCMFDJFSPO
x *ONJHSBOUFT RVF MMFHBO B VO OVFWP QBÎT F JEFOUJGJDBO FSSÓOFBNFOUF VOB FTQFDJF
MPDBMRVFTFSFWFMBWFOFOPTB
x &TDBTF[ZEJGJDVMUBEFTFDPOÓNJDBTRVFPCMJHBOBMBHFOUFBSFCVTDBSBMJNFOUPT
x %JGFSFOUFTSFTQVFTUBTGJTJPMÓHJDBTBVOiIPOHPDPNFTUJCMFu
-PTNFKJDBOPTRVFWJWFOFO$BMJGPSOJBIBODPNJEPMPT"NBOJUBQIBMMPJEFTVOBFTQFDJF
WFOFOPTB RVF OP TF FODVFOUSB FO TVT MPDBMJEBEFT EF PSJHFO DPOGVOEJÊOEPMPT DPO MPT
7PMWBSJFMMBWPMWBDFB*MVTUSBDJÓO
-BHVÎBEFIPOHPTDPNFTUJCMFTFO*TSBFMGVFFTDSJUB
FOIFCSFPZFOSVTP8BTTFS
DPNPSFTVMUBEPEFMBMMFHBEBEFNÃTEFVONJMMÓO
EFSVTPTFOMPTBÒPTOPWFOUBZEFTVGVFSUFUSBEJDJÓOEFSFDPMFDDJÓOEF)4$6OSVTP
TFFOWFOFOÓBMDPOGVOEJSVOBFTQFDJFWFOFOPTBDPOVOBDPNFTUJCMFEFTVQBÎTEFPSJHFO
)B[BOJ5BJUFMNBOZ4BTIB
0USPTJOGPSNFTTVHJFSFOVOBDJFSUBJNQSVEFODJBFOUSF
MPTSVTPTBMFTDPHFSDVBMFTFTQFDJFTSFDPMFDUBSZDPNFS.BUTVL
"MHVOBT QPCMBDJPOFT DPNFO -BFUJQPSVT TVMQIVSFVT TJO OJOHVOB DPOTFDVFODJB
NJFOUSBTPUSBTFOGFSNBO-BTFYQMJDBDJPOFTEBEBTBGJSNBORVFMBTSFTQVFTUBTGJTJPMÓHJDBT
EFMPTJOEJWJEVPTTPOEJWFSTBTQFSPQPESÎBIBCFSUBNCJÊOEJWFSTBTWBSJFEBEFTEFIPOHPT
$BSBDUFSÎTUJDBTCJPMPHÎBFDPMPHÎBVTPTDVMUJWBDJÓO
RVFQSFTFOUBOEJGFSFODJBTFOTVDPNQPTJDJÓORVÎNJDB4FDPOPDFQPDPTPCSFFTUFSBTHP
QBSUJDVMBSEFMBTFTQFDJFTWFOFOPTBTPQPUFODJBMNFOUFWFOFOPTBT
&O FM $VBESP PGSFDFNPT VO SFTVNFO EF MPT FQJTPEJPT GVFSUFNFOUF QVCMJDJUBEPT
EF FOWFOFOBNJFOUP HFOFSBMJ[BEP )B IBCJEP VO JODSFNFOUP TPSQSFOEFOUF EF
FOWFOFOBNJFOUPT Z NVFSUFT FO 6DSBOJB FO MPT ÙMUJNPT EJF[ BÒPT 4F IBO EBEP WBSJBT
FYQMJDBDJPOFTJODMVZFOEPVOCBKÓOFOMBTJUVBDJÓOFDPOÓNJDBZMBCÙTRVFEBEFTFTQFSBEB
EFBMJNFOUPTPQSPEVDUPTQBSBMMFWBSBMPTNFSDBEPTMPDBMFT
-PTJOGPSNFTSFHVMBSFTEFFOWFOFOBNJFOUPTFOMPT&TUBEPT6OJEPTTPOQVCMJDBEPT
FOFMQFSJÓEJDP.D*MWBJOFBQFK$PDISBO
&TUPTFQJTPEJPTTPOJOTJHOJGJDBOUFT
FODPNQBSBDJÓODPOMPTDFOUFOBSFTEFJOEJWJEVPTRVFSFDPMFDUBOZDPOTVNFOIPOHPT
TJMWFTUSFTTJOQSPCMFNBT.JMMPOFTEFQFSTPOBTEFUPEPFMNVOEPDPNFODPUJEJBOBNFOUF
IPOHPT TJMWFTUSFT TJO QSPCMFNBT EF TBMVE Z FT JNQPSUBOUF NBOUFOFS FM TFOUJEP EF MB
QFSTQFDUJWBDVBOEPTFBOBMJ[BOMPTFQJTPEJPTEFFOWFOFOBNJFOUP
-BDPOUBNJOBDJØOEFMPT)4$
" SBÎ[ EFM BDDJEFOUF EF $IFSOÓCJM FO 6DSBOJB FO MPT BÒPT PDIFOUB TF FGFDUVBSPO
JOWFTUJHBDJPOFT EF NBUFSJBMFT SBEJPBDUJWPT FO MBT GVFOUFT EF BMJNFOUP TJMWFTUSF Z
QBSUJDVMBSNFOUFFOMPT)4$'VFFYQSFTBEBVOBQSFPDVQBDJÓONBZPSUBNCJÊOTPCSFMB
BDVNVMBDJÓOEFNFUBMFTQFTBEPTZDPOUBNJOBOUFTFOMPTNBDSPNJDFUPT
6OFTUVEJPTPCSFMBBTJNJMBDJÓOEFSBEJPDFTJPQPSNFEJPEFMDPOTVNPEFIPOHPT
TJMWFTUSFTFOFM3FJOP6OJEPDPODMVZÓRVFÊTUBEFQFOEFNÃTEFMBTFTQFDJFTDPOTVNJEBT
RVF EF MB DBOUJEBE DPOTVNJEB #BSOFUU FU BM -PT IPOHPT NJDPSSÎ[JDPT
DPNQBSBEPTDPOMBTFTQFDJFTTBQSÓGJUBTQBSÃTJUBTQSFTFOUBCBOFTQFDÎGJDBNFOUFVOBNBZPS
SBEJPBDUJWJEBE &M DPOTVNP EF )4$ FO FM 3FJOP 6OJEP FT SFEVDJEP FO DPNQBSBDJÓO
DPOPUSPTQBÎTFTQFSPFMFTUVEJPSFWFMBVOBJOEJDBDJÓOHFOFSBMEFMPTSJFTHPTQPUFODJBMFT
QBSBMBTBMVE
6O DBTP SFQPSUBEP EF DPOUBNJOBDJÓO TF SFGFSÎB B MB NF[DMB BDDJEFOUBM EF FTQFDJFT
TJMWFTUSFT EF IPOHPT QPUFODJBMNFOUF WFOFOPTPT DPO MPT DPNFTUJCMFT JNQPSUBEPT QPS
MPT&TUBEPT6OJEPT(FDBOZ$JDIPXJD[
&TUPTBDPOUFDJNJFOUPTTPOSBSPTTJO
FNCBSHPZOPFYJTUFOJOHVOBOPUJDJBEFEBÒPTBMBTBMVEEFMBTQFSTPOBTFO&VSPQB
-"$6-5*7"$*»/%&)0/(04$0.&45*#-&4
)BZ NÃT P NFOPT VO DFOUFOBS EF FTQFDJFT EF IPOHPT RVF QVFEFO TFS DVMUJWBEBT
"OFYP
UPEBT TBQSÓGJUBT &O MPT NFSDBEPT DPNFSDJBMFT QSFEPNJOBO MBT FTQFDJFT
"HBSJDVT CJTQPSVT -FOUJOVMB FEPEFT Z 1MFVSPUVT $VBESP RVF SFQSFTFOUBO NÃT
P NFOPT FM QPS DJFOUP EF MBT FTQFDJFT DVMUJWBEBT EFM NVOEP $IBOH -BT
FTQFDJFTNBZPSNFOUFDVMUJWBEBTDSFDFOFOVOBBNQMJBWBSJFEBEEFTVCTUSBUPTPSHÃOJDPT
JODMVZFOEPMPTEFTFDIPTEFMBTQSPEVDDJPOFTEFBMHPEÓOZDBGÊ-BTUFDOPMPHÎBTFTUÃO
CJFO FTUBCMFDJEBT Z TF IBO JOTUJUVJEP FO NVDIPT QBÎTFT JNQPSUBOUFT JOEVTUSJBT EF
IPOHPT)BIBCJEPVOHSBOEFJODSFNFOUPFOMBQSPEVDDJÓOFOMPTÙMUJNPTEJF[BÒPT
TPCSFUPEPDPNPSFTVMUBEPEFMBVNFOUPEFMBQSPEVDUJWJEBEFO$IJOB
-PTJOGPSNFTEF¦GSJDB.TIJHFOJZ$IBOH
.ÊYJDP.BSUÎOF[$BSSFSBFUBM
ZMBTTFMWBTBNB[ÓOJDBTCSBTJMFÒBT1BVMJ
TVCSBZBORVFMBTDVMUJWBDJPOFTEF
IPOHPTPGSFDFOPQPSUVOJEBEFTFDPOÓNJDBTBMJHVBMRVFCFOFGJDJPTOVUSJDJPOBMFTZQBSB
MBTBMVE&OUPEB$IJOBTFMMFWBOBDBCPDVMUJWBDJPOFTFOQFRVFÒBFTDBMBRVFQPESÎBO
TFSNPEFMPTBQSPQJBEPTQBSBMBUSBOTGFSFODJBEFUFDOPMPHÎBT-BDVMUJWBDJÓOEFMIPOHP
EFMBDÃTDBSBEFMBSSP[7PMWBSJFMMBWPMWBDFB
TFJOUFHSBDPOMBQSPEVDDJÓOBSSPDFSBEFM
7JFU/BN%POEFRVJFSBRVFTFDVMUJWFOMBTFTQFDJFTTBQSÓGJUBTTFOFDFTJUBVODPOTUBOUF
TVNJOJTUSPEFNBUFSJBTQSJNBT-BFYQBOTJÓOEFMBQSPEVDDJÓOEFTIJJUBLFFO2JOHZVBO
/VODBIBCÎBWJTUPHFOUFFO-WJWDFOUSBM
OPTPMBNFOUFIVSHBOEPFOMPTCBTVSFSPTTJOPUBNCJÊO
MMFWÃOEPTFBMBCPDBMBTTPCSBTEFDPNJEBOJTJRVJFSBFOMBTTPDJFEBEFTRVFTFIBOEJWJEJEPDPNPQFK
(FPSHJBZ.PMEPWB"MNPOE
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$IJOBiMBDBQJUBMNVOEJBMEFMPTIPOHPTu
DPOEVKPBVOESÃTUJDPBHPUBNJFOUPEFMPT
CPTRVFTMPDBMFTRVFTVNJOJTUSBCBOMBNBEFSBTPCSFMBDVBMDSFDÎBFTUFIPOHPDPNFTUJCMF
1BVMJ
&M OÙNFSP EF FTQFDJFT TBQSÓGJUBT DVMUJWBEBT FTUÃ DSFDJFOEP DPOTUBOUFNFOUF Z MB
JOGPSNBDJÓO Z DPOTFKPT QSÃDUJDPT TPO VSHFOUFNFOUF OFDFTBSJPT 4UBNFUT -PT
IPOHPTFDUPNJDPSSÎ[JDPTQVFEFOUBNCJÊOTFSiDVMUJWBEPTu-PTÃSCPMFTTPOJOPDVMBEPT
DPOUSVGBTRVFUJFOFORVFJOGFDUBSMBTSBÎDFTZGPSNBSMB&.$-PTÃSCPMFTTPODVJEBEPT
DPO BUFODJÓO QBSB FTUJNVMBS MB QSPEVDDJÓO EF USVGBT *MVTUSBDJÓO -PT NÊUPEPT EF
iDVMUJWBDJÓOuEFUSVGBTTPODPOTUBOUFNFOUFQFSGFDDJPOBEPT)BMMFUBMB
*-6453"$*»/
5*104%&."$30.*$&5040."$30)0/(04
-PTIPOHPTDPNFTUJCMFTDSFDFOFOWBSJBTGPSNBTZUBNBÒPT/PIBZFMFNFOUPTDBSBDUFSÎTUJDPTPFYÃNFOFT
RVF
BZVEFOEJTUJOHVJSMPTEFTVTWBSJFEBEFTWFOFOPTBT-PTFKFNQMPTTPOEF.BMBXJZMBTGPUPTEF&SJD#PBBNFOPT
RVFTFFTQFDJGJRVFEJWFSTBNFOUF
4Q-BDUBSJVTUSBTSPNQFSMPT
GJMBNFOUPTTFPCTFSWBVOGMVJEPCMBODP
.VDIBTFTQFDJFTTPODPNFTUJCMFTZUPEBT
TPONJDPSSÎ[JDBT
"NBOJUBMPPTJJDPNFTUJCMF-B
WPMWBFTVOBDBSBDUFSÎTUJDBQBSUJDVMBSEFM
"NBOJUBVOHÊOFSPRVFJODMVZFFTQFDJFT
WFOFOPTBT'PUP1BVM,JSL
4Q3BNBSJBIBZVOBHSBODBOUJEBEEFWBSJFEBEFT
TJNJMBSFTRVFTFDPNFOFOUPEPFMNVOEP
"VSJDVMBSJBBVSÎDVMBKVEBFVOP
EFMPTIPOHPTDPNVOFTFOGPSNBEF
PSFKB$PNFTUJCMF'SBODJB$VMUJWBEP
BNQMJBNFOUF
&TUF"GSPCPMFUVTUJFOFVOBEFOTBSFEEFQPSPTEJNJOVUPT
FOMBQBSUFJOGFSJPSEFMTPNCSFSP
*[R
4Q-ZDPQFSEPO
/PSVFHB"CPNCBEPT
$SFDFOQPSEPRVJFSZ
TFDPNFOSFHVMBSNFOUF
BVORVFFODBOUJEBEFT
SFEVDJEBT
%FS
4Q$BOUIBSFMMVT
FMIJNFOJPTFFYUJFOEFIBTUB
VOBQBSUFEFMFTUÎQJUFZ
MPTDBSQÓGPSPTUJFOFOVOB
BQBSJFODJBDBSBDUFSÎTUJDB
*-6453"$*»/
$0.0$3&$&/-04)0/(04NJDPSSÓ[JDPTTBQSØGJUPTZQBUØHFOPT
-PTIPOHPTPCUJFOFOTVOVUSJNFOUPTJNCJÓUJDBNFOUFEFGPSNBTBQSÓàUBPQBSBTÎUJDBQBUÓHFOPT
$BEBDBUFHPSÎB
DPOUJFOF NBDSPIPOHPT DPNFTUJCMFT -BT FTQFDJFT NÃT WBMJPTBT TPO FDUPNJDPSSÎ[JDBT VOB FTQFDJF EF TJNCJPTJT
-BTSBÎDFTFDUPNJDPSSÎ[JDBTUJFOFOVOBGPSNBEJTUJOUBZWBSJBEB&TCBTUBOUFEJGÎDJMPCTFSWBSMBT JOTJUV.VDIPT
NBDSPNJDFUPTTBQSÓàUPTTPODPNFTUJCMFT1PDPTQBUÓHFOPTTFDPNFO5PEPTMPTFKFNQMPTTPOEF.BMBXJBNFOPT
RVFTFFTQFDJàRVFEJWFSTBNFOUF5PEBTMBTGPUPTTPOEF&SJD#PB
&DUPNJDPSSJ[B-BNBUFSJBCMBODB
RVFFOWVFMWFMBTSBÎDFTJOEJDBMBiWBJOBu
NJDÓUJDB
&TUBDBSBDUFSÎTUJDBFDUPNJDPSSJ[B
BNBSJMMBFTUÃBTPDJBEBDPOVOBTQ
$BOUIBSFMMVT
&TUBTFDUPNJDPSSJ[BTTPOQFRVFÒBTZ
FTQPOKPTBT&MNJDFMJPFOFMTVFMPQVFEF
UFOFSVOBGPSNBTJNJMBS
"MDPOTUBUBSFTUBDPOFYJÓOGÎTJDBDPOMBTSBÎDFTEFVOÃSCPM "HSPDZCFBFHFSJUBVOBFTQFDJFTBQSÓGJUBDPNFTUJCMFRVF
FTQPTJCMFEFUBMMBSMBTJNCJPTJTRVFFYJTUFFOUSFÊTUF
DSFDFTPCSFMBDFQBEFVOÃSCPMFO#PMPOJB*UBMJB&TUBFTQFDJF
ZFMIPOHP
UBNCJÊOFTDVMUJWBEB
7PMWBSJFMMBWPMWBDFB$PNÙONFOUF
DVMUJWBEPFTVOIPOHPTBQSÓGJUP
*OEPOFTJB$PNFTUJCMF
.B[PSDBEFNBÎ[JOGFDUBEBQPSFM
"SNJMMBSJBNFMMFBVOÃSCPM
6TUJMBHPNBZEJT#PMJWJB-BTJOGFDDJPOFT QBUÓHFOPFOMBCBTFEFVOMBCVSOP
FOFTUBEJPUFNQSBOPTFDPNFODPNP
NVFSUP-POESFT$PNFTUJCMF
IVJUMBDPDIFFO.ÊYJDP
*-6453"$*»/
{$6«-&4)0/(0440/$0.&45*#-&4 *%&/5*'*26&.04-"4&41&$*&4
-BTFTQFDJFTDPNFTUJCMFTQVFEFOTFSJEFOUJGJDBEBTVTBOEPVODPOPDJNJFOUPDJFOUÎGJDPZMPDBM/JOHÙOTJTUFNB
FTJOGBMJCMFMBTDPTUVNCSFTMPDBMFTTFCBTBOFOMBFWJEFODJBFNQÎSJDBEFDPNFTUJCJMJEBEBVORVFMBTDSFFODJBTEF
MBMPDBMJEBEQVFEFOFYDMVJSFSSÓOFBNFOUFMBTFTQFDJFTDPNFTUJCMFT&MOPNCSFDJFOUÎGJDPBZVEBBDPOUSPMBSFOMB
JOGPSNBDJÓOQVCMJDBEBTPCSFTVTQSPQJFEBEFTQFSPMBTTVHFSFODJBTQVFEFOTFSDPOGMJDUJWBT6TBEPTKVOUPTFM
DPOPDJNJFOUPDJFOUÎGJDPZFMMPDBMTPOVOBHVÎBQPUFOUFIBDJBMBTQSPQJFEBEFTEFMPTIPOHPTTJMWFTUSFT5PEBTMBT
GPUPTTPOEF&SJD#PBBNFOPTRVFTFBFTQFDJGJDBEPEJWFSTBNFOUF
*[R
&TUBGBSNBDJB
GSBODFTBPGSFDFBTJTUFODJB
MPDBMQBSBMBJEFOUJGJDBDJÓO
EFMBTFTQFDJFTDPNFTUJCMFT
%FS
-BTFHVOEB
QVCMJDBDJÓONÃTWJFKBTPCSF
MPTIPOHPTTJMWFTUSFT
DPNFTUJCMFTEF$IJOB
*ODMVZFEFTDSJQDJPOFTEF
iFTQFDJFTuZQVFEFIBCFSTJEP
VOMJCSPEFSFGFSFODJBTNVZ
ÙUJM'PUP8BSSFO1SJFTU
*[R
1BVM,JSL
EPDVNFOUBVOBDPMFDDJÓO
EFDBNQPFO.BMBXJ"
DBEBFTQÊDJNFOTFMFEB
VOOÙNFSPEFSFGFSFODJB
ZTFEFTDSJCFBOUFTEFTFS
TFDBEPZQSFTFSWBEPQBSB
VMUFSJPSFTBOÃMJTJT
%FS
)VFMMBTEF
FTQPSBTEF)ZQIPMPNB
GBTDJDVMBSFVOBFTQFDJF
WFOFOPTB-BIVFMMB
TVQFSJPSTFGPSNÓBMEFKBS
FMTPNCSFSPWBSJBTIPSBTMB
PUSBFONFOPTEFVOBIPSB
&MDPMPSEFMBTFTQPSBT
BZVEBBEJTUJOHVJSMPT
HÊOFSPTTJNJMBSFTQFSPOP
MBTFTQFDJFT
%FS
"MFTTBOESB
;BNCPOFMMJEFMB
6OJWFSTJEBEEF#PMPOJB
DPOVOBDPMFDDJÓOÙOJDB
EFFTQFDÎNFOFTEFUSVGBT
EFUPEPFMNVOEP-BT
DPMFDDJPOFTTPOGVFOUFT
EFSFGFSFODJBWJUBMFT
QBSBMBJEFOUJGJDBDJÓO
EFMPTIPOHPTZQBSB
MBEFOPNJOBDJÓOEFMBT
FTQFDJFT
*[R
&KFNQMBSFT
TFDBEPTEFUSVGBT
TPODVJEBEPTBNFOUF
FUJRVFUBEPTZBMNBDFOBEPT
FOMBDPMFDDJÓO
0SEFOBDJØOMPTIPOHPTTJMWFTUSFT
DPNFTUJCMFTMPTÈSCPMFTZMPTVTVBSJPTEF
CPTRVFT
640.Á-5*1-&%&-04#0426&4"46/504'03&45"-&4:$0/'-*$504
-B PSEFOBDJÓO EF MPT IPOHPT TJMWFTUSFT DPNFTUJCMFT Z EF TV QSPEVDDJÓO TPTUFOJCMF
EFCF UFOFS FO DVFOUB EPT BSHVNFOUPT GVOEBNFOUBMFT FO QSJNFS MVHBS MPT CPTRVFT Z
TV PSEFOBDJÓO FO TFHVOEP MPT VTVBSJPT EF CPTRVFT 6OB PSEFOBDJÓO FYJUPTB EF MPT
)4$OJWFMBFMJNQBDUPZMPTFGFDUPTEFMBSFDPMFDDJÓOZEFMBDPTFDIBDPOSFMBDJÓOBMPT
PCKFUJWPTNÃTBNQMJPTEFMBHFTUJÓOGPSFTUBMEFUFSNJOBEPTQPSMBJNQPSUBODJBSFMBUJWB
EF MPT EJGFSFOUFT VTVBSJPT EF CPTRVFT y4PO MPT )4$ NÃT QSFDJPTPT RVF MPT EFNÃT
1'/. QPS FKFNQMP : yDÓNP TF DPNQBSBO FO DVBOUP B CFOFGJDJPT FDPOÓNJDPT
DPOPUSPTQSPEVDUPTGPSFTUBMFT "MHVOPTCPTRVFTUJFOFOJNQPSUBODJBUBOUPFTUSBUÊHJDB
DPNP FDPOÓNJDB QSPUFHFO MBT DVFODBT IÎESJDBT Z MPT UFSSFOPT GSÃHJMFT FO EFDMJWF
DPOUSJCVZFOEPBMBQSFTFSWBDJÓOEFMBEJWFSTJEBECJPMÓHJDB
&M SFUP QBSB MPT QMBOJGJDBEPSFT Z MPT SFTQPOTBCMFT EF QPMÎUJDBT FT FRVJMJCSBS MBT
EFNBOEBTSFMBUJWBTBMPTCPTRVFTZQSPQPSDJPOBSVONBSDPFOFMDVBMMPTSFTQPOTBCMFT
EFPSEFOBDJÓOGPSFTUBMQVFEBOUSBCBKBSFGFDUJWBNFOUF&OMPRVFTFSFGJFSFBMPT)4$
FTUP TJHOJGJDB NJOJNJ[BS FM JNQBDUP EF MB DPTFDIB QFSNJUJFOEP B MPT SFDPMFDUPSFT VO
BDDFTP KVTUP Z FRVJUBUJWP B MPT CPTRVFT TJHOJGJDB FOGSFOUBSTF B MBT JORVJFUVEFT EF MPT
CJÓMPHPTRVFDSFFORVFMBFYQMPUBDJÓODPNFSDJBMFTJOTPTUFOJCMFQFSNJUJFOEPBMNJTNP
UJFNQP FM EFTBSSPMMP EF MBT FNQSFTBT -B QSPEVDDJÓO TPTUFOJCMF EF MPT )4$ QPS MP
UBOUPUJFOFEJNFOTJPOFTTPDJBMFTQPMÎUJDBTZFDPOÓNJDBT
-BQBMBCSBiCPTRVFuFTVUJMJ[BEBFOTFOUJEPHFOFSBMFTEFDJSQBSBJOEJDBSÃSFBTEPOEF
MPT ÃSCPMFT DSFDFO EF GPSNB OBUVSBM P QMBOUBEPT &M FOPSNF OÙNFSP EF DVMUJWBDJPOFT
EF)4$FOUÊSNJOPTEFWPMVNFOZWBMPSWJFOFEFMBTFTQFDJFTRVFGPSNBOBTPDJBDJPOFT
NJDPSSÎ[JDBT DPO MPT ÃSCPMFT 4JO MBT NJDPSSJ[BT MPT ÃSCPMFT QPESÎBO DSFDFS QPDP Z MB
JOUFHSJEBEFDPMÓHJDBEFMPTCPTRVFTEFMNVOEPQPESÎBFTUBSBNFOB[BEB&MJNQBDUPEF
MBSFDPMFDDJÓOEF)4$OPEFCFSÎBBMUFSBSMBEFQFOEFODJBNVUVBFOUSFMPTÃSCPMFTZMPT
IPOHPT-BCJPMPHÎBZFDPMPHÎBEFMPT)4$TPOUBOJNQPSUBOUFTDPNPFMDPOPDJNJFOUP
GVOEBNFOUBM EF MBT FTQFDJFT RVF DSFDFO KVOUP B VO EFUFSNJOBEP UJQP EF ÃSCPM )BZ
UPEBWÎB NVDIBT MBHVOBT FO MB JOGPSNBDJÓO SFGFSFOUF B MPT IPOHPT NJDPSSÎ[JDPT
DPNFTUJCMFTZFTQFDJFTBSCÓSFBTUSPQJDBMFT
&OUSF MPT VTVBSJPT EF CPTRVFT TF JODMVZFO MPT RVF DPTFDIBO QSPEVDUPT NBEFSFSPT
Z OP NBEFSFSPT EF MPT DVBMFT MPT )4$ TPO TÓMP VO FKFNQMP
-PT CPTRVFT UBNCJÊO
PGSFDFOVOBTFSJFEFTFSWJDJPTBMHVOPTEFFMMPTFTQFDÎGJDPTQBSBVTVBSJPTQSJWBEPTZPUSPT
NÃTHFOFSBMNFOUFWBMPSJ[BEPT&OUSFMBTGVODJPOFTFDPMÓHJDBTTFJODMVZFOMBQSPUFDDJÓO
EF MBT DVFODBT IÎESJDBT FM DPOUSPM EF MB FSPTJÓO EFM UFSSFOP Z MB DPOTFSWBDJÓO EF MB
EJWFSTJEBE CJPMÓHJDB -PT CPTRVFT PGSFDFO UBNCJÊO CFOFGJDJPT TPDJBMFT VO MVHBS QBSB
FMUJFNQPMJCSFQBSBMPTEFQPSUFTZQBSBEJTGSVUBSEFMBOBUVSBMF[B&TBCTPMVUBNFOUF
OFDFTBSJP DPNQSFOEFS MBT SFMBDJPOFT FOUSF MB DPTFDIB EF )4$ Z PUSPT QSPEVDUPT Z
TFSWJDJPT EFSJWBEPT EF MPT CPTRVFT BM JHVBM RVF FMBCPSBS NFKPSBT FO MBT QSÃDUJDBT Z
EJSFDUSJDFTQBSBTVPSHBOJ[BDJÓO
&TUPTUJQPTEFEFDJTJPOFTEFQFOEFOEFVOBJOGPSNBDJÓOBEFDVBEB)BZJORVJFUVEFT
FOPSNFT TPCSF MBT QSÃDUJDBT GPSFTUBMFT JOTPTUFOJCMFT JODMVZFOEP MB DPTFDIB EF )4$
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
3&$6"%30
&MNBUTVUBLFZTVFYQPSUBDJÓOB+BQÓO
&O +BQÓO FM 5SJDIPMPNB NBUTVUBLF FT DPOTJEFSBEP EF HSBO WBMPS Z TV DPOTVNP DFSFNPOJBM FT NVZ
JNQPSUBOUF EFTEF FM QVOUP EF WJTUB DVMUVSBM )BMM FU BM B
3FDPMFDUBEP PSJHJOBSJBNFOUF FO MPT
CPTRVFTEF+BQÓOMBQSPEVDDJÓOEFDSFDJÓWFSUJHJOPTBNFOUFFOMPTBÒPTPDIFOUB&OMBCÙTRVFEBEF
OVFWBT GVFOUFT TF JEFOUJGJDÓ FM NBUTVUBLF BNFSJDBOP 5SJDIPMPNB NBHOJWFMBSF
DPNP VO TVTUJUVUP
BDFQUBCMF EFTDVCSJFOEP EF JONFEJBUP RVF TF QPEÎBO SFDPMFDUBS HSBOEFT DBOUJEBEFT FO FM 1BDÎGJDP
OPSPFTUF EF "NÊSJDB EFM /PSUF EPOEF FM VTP MPDBM FSB NÎOJNP &M DPNFSDJP GMPSFDJFOUF DPO +BQÓO
DPJODJEJÓDPOMBQÊSEJEBEFUSBCBKPDBVTBEBQPSMBQSPIJCJDJÓOEFMBFYUSBDDJÓONBEFSFSB&MDPNFSDJP
EF FYQPSUBDJÓO CBTBEP FO FM 5 NBUTVUBLF IB TJEP FTUBCMFDJEP UBNCJÊO FO 4JDIVBO $IJOB 8JOLMFS
:FI
#IVUÃO/BNHZFM
ZFOMB3FQÙCMJDB1PQVMBS%FNPDSÃUJDBEF$PSFB
-BTFYQPSUBDJPOFTEF5NBHOJWFMBSFZPUSBTFTQFDJFTFTUSFDIBNFOUFSFMBDJPOBEBTTFEBOFO¦GSJDB
EFM OPSUF 5VSRVÎB Z .ÊYJDP QFSP MPT EFUBMMFT BM SFTQFDUP TPO FTDBTPT &M CFOFGJDJP FDPOÓNJDP QBSB
FTUPT QBÎTFT FT SFEVDJEP DPNQBSBEP DPO FM EF "TJB Z /PSUFBNÊSJDB -PT QSFDJPT QBHBEPT QPS MPT
KBQPOFTFTDBNCJBODPOTJEFSBCMFNFOUFEFQFOEJFOEPEFMBEJTQPOJCJMJEBEEFBCBTUFDJNJFOUPBOVBMZEF
MBDBMJEBEEFMPTIPOHPTDVBOEPMMFHBOBMNFSDBEP
&M NBUTVUBLF FT BQSFDJBEP QBSUJDVMBSNFOUF FO VO FTUBEJP UFNQSBOP EF EFTBSSPMMP Z SFRVJFSF VOB
SFDPMFDDJÓODVJEBEPTBFOMPTFTUSBUPTTVQFSJPSFTEFIVNVTEFMPTCPTRVFT"MHVOPTSFDPMFDUPSFTOP
TPOUBODVJEBEPTPTSBTUSJMMBOFMTVFMPQBSBEFTDVCSJSMPTDBSQÓGPSPTRVFFTUÃOOBDJFOEPMPRVFEBÒB
MPTFTUSBUPTEFIVNVTZBGFDUBMBTDPTFDIBTGVUVSBT
&M NBUTVUBLF FT VO IPOHP NJDPSSÎ[JDP Z TF IBO EFTBSSPMMBEP FTGVFS[PT QBSB MB iPSEFOBDJÓOu EFM
FDPTJTUFNB OBUVSBM FO MB 3FQÙCMJDB EF $PSFB Z FO /PSUFBNÊSJDB DPO FM PCKFUJWP EF JODSFNFOUBS MB
QSPEVDDJÓO&MSFOEJNJFOUPBOVBMFTUÃUPEBWÎBJOGMVFODJBEPQSFQPOEFSBOUFNFOUFQPSMBEJTQPOJCJMJEBE
EFQSFDJQJUBDJPOFTZQPSMBUFNQFSBUVSBEFMBNCJFOUFFOQFSÎPEPTDMBWFTEFMBÒP
7ÊBTFFO1JM[Z.PMJOB
VOSFTVNFOHFOFSBMEFMBTBDUJWJEBEFTFO/PSUFBNÊSJDB
&TUPOFDFTJUBTFSFYBNJOBEPDVJEBEPTBNFOUFVTBOEPMBJOGPSNBDJÓOEJTQPOJCMFTPCSF
FM SFOEJNJFOUP MBT DBOUJEBEFT DPTFDIBEBT Z NBZPS JOGPSNBDJÓO TPCSF MB QSPEVDDJÓO
"CPSEBSFNPTFTUPTUFNBTNÃTBEFMBOUFFOFTUFNJTNPDBQÎUVMP
-B HFTUJÓO EF MPT )4$ IB UFOEJEP B DPODFOUSBSTF FO TV CJPMPHÎB Z FDPMPHÎB
QBSUJDVMBSNFOUF MPT EF BMUP WBMPS FDPOÓNJDP )BZ VOB MJUFSBUVSB JNQPSUBOUF TPCSF
MBT USVGBT QPS FKFNQMP 'ÊEÊSBUJPO 'SBOÉBJTF EFT 5SVGGJDVMUFVST QFSP QPDPT
FTUVEJPTTPCSFMBTFTQFDJFTDPNFTUJCMFTEF3VTTVMBP-BDUBSJVTNVDIBTEFMBTDVBMFTTPO
SFDPMFDUBEBTZDPOTVNJEBTMPDBMNFOUFFOMPTQBÎTFTFOEFTBSSPMMP-PTJOWFTUJHBEPSFT
FTUÃOQPOJFOEPNBZPSBUFODJÓOFOMBTSFMBDJPOFTDPNQMFKBTFOUSFMPTBTQFDUPTCJPMÓHJDPT
TPDJBMFTZFDPOÓNJDPTVOBNBOJPCSBIBDJBFMFTUBCMFDJNJFOUPEFCBTFTTÓMJEBTQBSBMB
QSPEVDDJÓOTPTUFOJCMFEF)4$RVFFTUÃTJFOEPBDPHJEBDPOFOUVTJBTNP
.VDIP TF IB FTDSJUP Z TF IB EJDIP BDFSDB EFM NBUTVUBLF 3FDVBESP &T VO
QSPEVDUP EF FYQPSUBDJÓO JNQPSUBOUF QBSB NVDIPT QBÎTFT FO EFTBSSPMMP Z IB IBCJEP
WBSJBT FYQMJDBDJPOFT RVF FYBNJOBO MB DPTFDIB DPNFSDJBM FO FM DPOUFYUP NÃT BNQMJP EF
CPTRVFTZEFMPTVTVBSJPTEFCPTRVFT8JOLMFS:FI
&M1BDÎGJDPOPSPFTUFEF
/PSUFBNÊSJDBFTPUSBÃSFBEPOEFFMUFNBEFMBHFTUJÓOIBTJEPFYBNJOBEPEFUBMMBEBNFOUF
1JM[ Z .PMJOB 5FEEFS .JUDIFMM Z 'BSSBO &TUPT FTUVEJPT TPO ÙUJMFT
DPODSFUBNFOUF FO MB EFTDSJQDJÓO EF MPT SFDPMFDUPSFT EF IPOHPT Z EF MBT QSÃDUJDBT EF
SFDPMFDDJÓOZQSPQPSDJPOBOVODPOUSBTUPÙUJMDPOMPTQPDPTFTUVEJPTFGFDUVBEPTFOMBT
SFDPMFDDJPOFTFYJTUFOUFTFOMPTQBÎTFTFOEFTBSSPMMP-PXPSFZ#PB
)BO TVSHJEP BEFNÃT BMHVOBT QSFPDVQBDJPOFT TPCSF MB EJTNJOVDJÓO FO MB
QSPEVDUJWJEBEZMBEFTBQBSJDJÓOEFBMHVOBTFTQFDJFTEFNBDSPNJDFUPT"SOPMET
-B BUFODJÓO TF IB DFOUSBMJ[BEP FO &VSPQB Z VOP EF MPT BSHVNFOUPT JEFOUJGJDBEPT FT
FMJNQBDUPDBVTBEPQPSFMJODSFNFOUPEFMBSFDPMFDDJÓODPNFSDJBMFO&VSPQBEFMFTUF
0SEFOBDJÓOMPT IPOHPTTJMWFTUSFTDPNFTUJCMFTMPTÃSCPMFTZMPTVTVBSJPTEFCPTRVFT
1FSJOJ
-BQSFTFSWBDJÓOEFMPTIPOHPTFTIPZFOEÎBVOUFNBDPODSFUPEFEFCBUF
FOUSFMPTNJDÓMPHPT&TUFEFCBUFBQFOBTIBJOJDJBEPQPSFTPFTJNQPSUBOUFRVFBOBMJDF
MPT BNQMJPT BTQFDUPT TPDJBMFT Z FDPOÓNJDPT SFMBDJPOBEPT DPO MB DPTFDIB TJ TF RVJFSF
DPOUSJCVJSFOMBEFUFODJÓOEFMEFDMJOPEFMBTFTQFDJFTDPNFTUJCMFTBNFOB[BEBT
-BTTJHVJFOUFTTFDDJPOFTFYBNJOBOFMBDDFTPBMPTTJUJPTEFSFDPMFDDJÓOMPTSFDPMFDUPSFT
Z MPT JNQBDUPT EF MB DPTFDIB &M DBQÎUVMP QSPTJHVF DPO VO FYBNFO EF MB JOGPSNBDJÓO
QVCMJDBEB TPCSF FM SFOEJNJFOUP Z MB QSPEVDUJWJEBE BOUFT EF JOUFOUBS PGSFDFS BTFTPSÎB
QSÃDUJDBTPCSFMBHFTUJÓOEFMPT)4$QBSBVOBQSPEVDDJÓOTPTUFOJCMF
3&(-".&/5"3-"3&$0-&$$*»/
&YJTUFO MFZFT Z QPMÎUJDBT BNQMJBNFOUF EJGFSFOUFT TPCSF MB SFDPMFDDJÓO EF )4$ WÊBTF
UBNCJÊOFM3FDVBESP$BQÎUVMP
&TDBOEJOBWJBPGSFDFMJCSFBDDFTPDVBMRVJFSBQVFEF
SFDPMFDUBS IPOHPT DPNFTUJCMFT NJFOUSBT OP IBHB EBÒP B MB QSPQJFEBE 4BBTUBNPJOFO
&TUBQPMÎUJDBIBTJEPEFTBGJBEBQPSMBNJHSBDJÓOFDPOÓNJDBEFMPTQBÎTFTWFDJOPT
RVFGPSNBCBOQBSUFEFMBFY6OJÓO4PWJÊUJDBZMBEJTQPOJCJMJEBEEFUSBCBKPCBSBUPQBSB
SFDPMFDUBS )4$ Z CBZBT TJMWFTUSFT $BNCJPT BOÃMPHPT FO &VSPQB EFM FTUF IBO DSFBEP
OVFWBTPQPSUVOJEBEFTQBSBMBDPTFDIBDPNFSDJBMZIBODBVTBEPQSFPDVQBDJPOFTBDFSDB
EFMBTDPTFDIBTJOTPTUFOJCMFTZMBTGPSNBTEFSFHMBNFOUBSFTUBTSFDPMFDDJPOFT
$POUSPMBSBMPTSFDPMFDUPSFTOPTJFNQSFFTGÃDJM%FTQVÊTEFMBTFHVOEBHVFSSBNVOEJBM
FMHPCJFSOPGJOMBOEÊTJODFOUJWÓVOBNBZPSDPTFDIBEF)4$ZTJHVFQSPNPWJFOEPFMVTP
EFFTUFSFDVSTPTVCVUJMJ[BEP)ÅSLÕOFOZ+ÅSWJOFO4BMP
&MBDDFTPMJCSFBMB
DBNQJÒBFTVOQSJODJQJPEFWJEBFO4VFDJBZ/PSVFHBZFMDPOUSPMEFMBSFDPMFDDJÓOEFMPT
)4$ZEFNÃT1'/.
OFDFTJUBSÎBVODBNCJPGVOEBNFOUBMFOMBTQPMÎUJDBTOBDJPOBMFT
-BiTPCSFQSPEVDDJÓOuFTVOBQSFPDVQBDJÓODPNÙONFOUFFYQSFTBEBUBOUPQBSBMBT
SFDPMFDDJPOFTDPNFSDJBMFTDPNPQBSBMBTVCTJTUFODJB&MUFNPSFOUSFMPTSFTQPOTBCMFTEF
PSEFOBDJÓOGPSFTUBMZPUSBTQBSUFTJOUFSFTBEBTFTRVFEJTNJOVZBMBQSPEVDDJÓOGVUVSB
EF )4$ &TUBT QSFPDVQBDJPOFT FTUÃO KVTUJGJDBEBT QFSP FYJTUF FM QFMJHSP EF EBS QBTPT
ESBDPOJBOPTTJOFOUFOEFSFMJNQBDUPEFMBDPTFDIBQBSBSFHMBNFOUBSBMPTSFDPMFDUPSFT
CBTÃOEPTFFOVOBDPNQSFOTJÓOJOTVGJDJFOUFEFDVBOUPTFSFDPMFDUBZEFMPRVFIBDFO
MPTSFDPMFDUPSFT
&MJNQVMTPQSJODJQBMQBSBMBSFHMBNFOUBDJÓOEFMPTSFDPMFDUPSFTFTUÃFOFMMVHBSEF
QSPEVDDJÓOEFMBDPTFDIB-BJOUSPEVDDJÓOEFFTRVFNBTMFHBMFTUJFOFWBSJBTGVODJPOFT
x 5SBUBUFÓSJDBNFOUF
EFMJNJUBSMBDBOUJEBESFDPMFDUBEB
x "TFHVSB RVF MPT SFDPMFDUPSFT UFOHBO QSFTFOUF MBT NFKPSFT QSÃDUJDBT NÊUPEPT EF
SFDPMFDDJÓONFOPTEBÒJOPT
x 1SPEVDFHBOBODJBT
&O*UBMJBDBEBQSPWJODJBSFHMBNFOUBRVJÊOUJFOFFMEFSFDIPEFSFDPMFDUBSUSVGBTTQ
5VCFS
-PT SFDPMFDUPSFT UJFOFO RVF BQSPCBS VO FYBNFO TFODJMMP RVF DFSUJGJRVF RVF
DPNQSFOEFODÓNPZDVÃOEPSFDPMFDUBS-BDBOUJEBEEFQFSNJTPTFYUFOEJEPTFO&NJMJB
3PNBHOBVOBEFMBTSFHJPOFTJUBMJBOBT
FOFMBÒPSPOEBMPTDBEBVOPEFM
WBMPS EF EÓMBSFT &&66 ;BNCPOFMMJ DPNVOJDBDJÓO QFSTPOBM 5SVGGMFT BOE
DPMMFDUJOHQPSDJOJJO*UBMZ
&O FM QBSRVF OBDJPOBM EF 8JOFNB 0SFHPO MB WFOUB EF QFSNJTPT QSPQPSDJPOB VO
JOHSFTPDPOTJEFSBCMFBVORVFBMUBNFOUFWBSJBCMF$VBESP
&O#IVUÃOTÓMPDBOUJEBEFT
TJNCÓMJDBTTFHBOBOEFMBWFOUBEFQFSNJTPT/BNHZFM
-BTBVUPSJEBEFTMPDBMFTBENJOJTUSBOUBNCJÊOMPTQSPHSBNBTEFDPODFTJÓOEFQFSNJTPT
QBSB MJNJUBS FM BDDFTP B TJUJPT EF JOUFSÊT &TUF TJTUFNB QBSFDF TFS NFOPT JEÓOFP QBSB
SFTPMWFSMPTDPOGMJDUPTFOUSFMBTDPNVOJEBEFTDPOGJOBOUFTZIBPDBTJPOBEPQSPCMFNBTFO
MBQSPHSBNBDJÓOEFMBSFDPMFDDJÓOEFUSVGBTFO&TQBÒBEF3PNÃODPNVOJDBDJÓO
QFSTPOBM5SBEFJOOÎTDBMPTGSPN/PSUI4QBJOUP$BUBMPOJBBOEUSVGGMFQSPEVDUJPO
&TUF
FTVONFNPSÃOEVNEFMBOFDFTJEBEEFBOBMJ[BSEFUFOJEBNFOUFMBJNQBSDJBMJEBEEFMPT
FTRVFNBTRVFJOKVTUBNFOUFFYDMVZFOBMBTQFSTPOBTFOWF[EFBMFOUBSFMVTPFRVJUBUJWP
EFMPTSFDVSTPTOBUVSBMFT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
7FOUBEFQFSNJTPTQBSBMBSFDPMFDDJØOEFNBUTVUBLFTFOFM#PTRVF/BDJPOBMEF8JOFNB
0SFHPO
7"-03
&&66
'*/%&5&.103"%"
0#4&37"$*0/&4
7&/%*%04
EFPDUVCSF
-BNBZPSDPTFDIBEFTEF
EFOPWJFNCSF
EFPDUVCSF
EFTFQUJFNCSF
TJOEBUPT
EFOPWJFNCSF
%BUPTJODPNQMFUPT/PIBZJOGPSNBDJØO
EFTQVÏTEFFTUBGFDIB
EFPDUVCSF
%BUPTQSPWJTPSJPT
"º04
1&3.*404
'VFOUF XXXGTGFEVTSXJOFNBTQFDJBMQSPKFDUT -PT QFSNJTPT DPNFSDJBMFT TPO WÈMJEPT QBSB MB SFDPMFDDJØO FO
%FTDIVUFT6NQRB8JMMBNFUUFBEFNÈTEFM#PTRVF/BDJPOBMEF8JOFNB4ØMP8JOFNBQVCMJDBJOGPSNFTJNQPSUBOUFT
TPCSFMBUFNQPSBEBEFNBUTVUBLFTMBTi.VTISPPNDISPOJDMFTw
-PT DPTFDIFSPT EF MPT QBÎTFT FO EFTBSSPMMP GSFDVFOUFNFOUF SFDPMFDUBO QBSB MB
TVQFSWJWFODJBZMPTIPOHPTDPNFTUJCMFTSFQSFTFOUBOVOBGVFOUFJNQPSUBOUFEFBMJNFOUP
&O.BMBXJMPTHVBSEBCPTRVFTTBCFOQFSGFDUBNFOUFRVFQFSNJUJSRVFMBHFOUFSFDPMFDUF
)4$ FO ÃSFBT GPSFTUBMFT QSPUFHJEBT TVQPOESÎB VOB NBZPS FYUSBDDJÓO EF QSPEVDUPT
NBEFSFSPTQBSUJDVMBSNFOUFEFMFÒB-PXPSFZ#PB
/PFYJTUFVOBSFDPMFDDJÓO
DPNFSDJBM SFHJTUSBEB PGJDJBMNFOUF FO .BMBXJ Z OP IB IBCJEP OJOHÙO JOUFOUP EF
JOUSPEVDJSFMTJTUFNBEFQFSNJTPT
&M ÊYJUP EF MPT FTRVFNBT EF SFHMBNFOUBDJÓO EFQFOEF EF RVJFO DPOUSPMB P QPTFF MPT
CPTRVFT­TUFFTVOUFNBSFMBUJWBNFOUFTFODJMMPQBSBSFHMBNFOUBSMBSFDPMFDDJÓOEF#PMFUVT
FEVMJTFOMBTQMBOUBDJPOFTDPNFSDJBMFTEFQJOPTEF4VEÃGSJDBDPNQBSBEPDPOMPTQSPCMFNBT
NÃTDPNQMFKPTTVSHJEPTEFMPTNÙMUJQMFTVTPTEFMPTCPTRVFTBVUÓDUPOPTEF.BMBXJ-B
QSFTJÓOQBSBSFHMBNFOUBSFMBDDFTPBMPTTJUJPTWJFOFEFWBSJBTGVFOUFTOPUPEBTJOWPMVDSBEBT
FO MB TJMWJDVMUVSB 6O GVFSUF HSVQP EF QSFTJÓO BNCJFOUBMJTUB EF MPT &TUBEPT 6OJEPT IB
USBUBEPEFMJNJUBSMBDPTFDIBDPNFSDJBM.D-BJO$ISJTUFOTFOZ4IBOOPO
-BFYQBOTJÓOEFMBDPTFDIBDPNFSDJBMFO&VSPQBIBDBVTBEPMBJOUSPEVDDJÓOEFMFZFT
FO1PMPOJB-BXSZOPXJD[
FY:VHPTMBWJBIPZ4FSCJBZ.POUFOFHSP
*WBODFWJD
;BLMJOB Z 3VNBOJB 1PQ -B JOGPSNBDJÓO TPCSF FM ÊYJUP EF FTUPT
SFHMBNFOUPT FT NVZ TVQFSGJDJBM Z FWJEFODJB MBT EJGJDVMUBEFT HFOFSBMFT BM TFHVJS MBT
DPOEJDJPOFTFTUBCMFDJEBTQPSNFEJPEFMPUPSHBNJFOUPEFVOQFSNJTP(FOFSBMNFOUFTF
FTUBCMFDFMBDBOUJEBERVFQVFEFTFSSFDPMFDUBEBFOVOEFUFSNJOBEPQFSÎPEPEFUJFNQP
QFSPFTEJGÎDJMDPOUSPMBSZFTUBCMFDFSTBODJPOFTQBSBMPTUSBOTHSFTPSFT
-B QSPIJCJDJÓO EF MB UBMB IB JOUSPEVDJEP FO $IJOB 8JOLMFS 'JMJQJOBT
/PWFMMJOP $BOBEÃ 5FEEFS .JUDIFMM Z 'BSSBO Z PUSPT QBÎTFT OVFWBT
PQPSUVOJEBEFT QBSB MB SFDPMFDDJÓO EF )4$ Z IB HFOFSBEP JORVJFUVEFT TPCSF MB
TPCSFQSPEVDDJÓO&O4JCFSJBIBTVDFEJEPMPDPOUSBSJPVOJODSFNFOUPFOMBTBDUJWJEBEFT
EFUBMBFGFDUVBEBTQPSDPNQBÒÎBTFYUSBOKFSBTIBIFDIPNÃTEJGÎDJMQBSBMBTQPCMBDJPOFT
MPDBMFTMBSFDPMFDDJÓOEFMPT)4$EF#FFSZ;BLIBSFOLPW
6ODPOUSPMÓQUJNPEFQFOEFEFMBSFGPSNBEFMBTMFZFTRVFOPGVODJPOBOZEFMEJÃMPHP
DPO MPT SFDPMFDUPSFT 1JM[ Z .PMJOB WÊBTF UBNCJÊO 7BODF Z 5IPNBT 4F
OFDFTJUB VO FOGPRVF QSBHNÃUJDP QBSB QSPUFHFS MPT SFDVSTPT OBUVSBMFT Z HBSBOUJ[BS VO
BDDFTPKVTUPZFRVJUBUJWPBMPTSFDPMFDUPSFT
-043&$0-&$503&4:13«$5*$"4-0$"-&4
6O FTUVEJP SFDJFOUF FO .BMBXJ EFTDSJCF MP RVF TVDFEJÓ DVBOEP FM 4S ,FOBTJ "GGBE
TFGVFBSFDPMFDUBSCPXBT)4$
DFSDBEFTVDBTBFO.BDIJOHB-PBDPNQBÒBCBOEPT
JOWFTUJHBEPSFTEFMQSPZFDUP)POHPT$PNFTUJCMFTEF.JPNCP-PXPSFZ#PB
4BMJNPTBMBTVOBIPSBNÃTUBSEFEFMIPSBSJPBDPTUVNCSBEP,FOBTJOPUFOÎBOJOHÙOUJQPEF
FRVJQPOBEBNÃTMBSPQBRVFWFTUÎBZVODVCP$BNJOBCBEFTDBM[PZTJOOJOHVOBQSPUFDDJÓODPOUSB
MB MMVWJB RVF IPZ FT QFSTJTUFOUF BVORVF OP QFTBEB /P QPEÎB EFKBS RVF MB MMVWJB MP QVTJFSB GVFSB
0SEFOBDJÓOMPT IPOHPTTJMWFTUSFTDPNFTUJCMFTMPTÃSCPMFTZMPTVTVBSJPTEFCPTRVFT
EFDPNCBUFZBRVFMBSFDPMFDDJÓOEFCPXBTFTVOBBDUJWJEBEEFMBFTUBDJÓOMMVWJPTBZEFCFSÎBFTUBS
QSFQBSBEPQBSBNPKBSTF&TUFBÒPMBTMMVWJBTTPOUBOGSFDVFOUFTZQFTBEBTRVFFTFYDFMFOUFQBSBMPT
LVOHMPLXFUJUJZMPTDIJQBUXF
4FEJSJHJÓQPSVOTFOEFSPCJFOEFMJOFBEPIBDJBFMMVHBSEPOEFTBCÎBRVFJCBBFODPOUSBSMPTCPXBT
)BCÎBFTUBEPPCTFSWBOEPMBMMVWJBEVSBOUFMPTEPTEÎBTBOUFSJPSFTQPSMPRVFZBTBCÎBDVBMFTFTQFDJFT
FTUBCBOMJTUBTQBSBTFSSFDPMFDUBEBTZBTBCÎBEÓOEFIBCÎBFTUBEPMBÙMUJNBWF[ZMBTDPOEJDJPOFTEF
MBDPTFDIBRVFPCTFSWÓFOUPODFT6TBCBUPEBFTUBJOGPSNBDJÓOQBSBEFDJEJSEPOEFJS&OFTUPTEÎBT
GJOBMFTEFMBFTUBDJÓOEFMBTMMVWJBT
IBOTJEPFODPOUSBEPTQPDPTCPXBTDFSDBEFTVDBTBBQFTBSEF
RVFBQSJODJQJPTEFMBFTUBDJÓOMPTIBCÎBFODPOUSBEPFOBCVOEBODJB
%VSBOUFFTUFQFSÎPEPMBFTQFDJFQSJODJQBMRVFTFFODVFOUSBFTFMLVOHMPLXFUJUJFTQFDJFQSFGFSJEB
QPSMPTDPNQSBEPSFT4FFODVFOUSBFOMBT[POBTQFESFHPTBTZ,FOBTJEFCFUFOFSiCVFOPKPuQBSB
FODPOUSBSMPT$SFDFOQPSEPRVJFSEFCBKPEFMBTNBUJUBTEFIJFSCBNPKBEB1BSBSFDPMFDUBSMPT,FOBTJ
MPT UPNB EFTEF TVT CBTFT VTBOEP MPT EFEPT Z BSSBODÃOEPMPT EFMJDBEBNFOUF -VFHP DPSUB MB QBSUF
JOGFSJPSEFMUBMMPZMBUJSB4PQMBMBUJFSSBRVFIBRVFEBEPQFHBEBZMVFHPEFQPTJUBEFMJDBEBNFOUFFM
CPXBFOTVDVCP:BTÎDPOUJOÙB
,FOBTJTBCFRVFBMHVOPTCPXBTTFFODVFOUSBODFSDBEFDJFSUBTFTQFDJFTBSCÓSFBTZRVFUPEPTMPT
BÒPT FM NJTNP UJQP EF CPXB BQBSFDF FO MPT NJTNPT MVHBSFT 4BCF UBNCJÊO RVF BMHVOBT FTQFDJFT
OFDFTJUBOWBSJPTEÎBTEFMMVWJBTFHVJEPTEFTPMBOUFTEFBQBSFDFSNJFOUSBTPUSBTOFDFTJUBOVOBMMVWJB
QSPMPOHBEB "MHVOPT OFDFTJUBO QPDPT EÎBT QBSB DSFDFS EFTEF VO QFRVFÒÎTJNP DBSQÓGPSP IBTUB VO
CPXBMJTUPQBSBTFSSFDPMFDUBEPPUSPTDSFDFOFOQPDBTIPSBT&TUPFTJNQPSUBOUFQPSRVFFTBTÎRVF
TBCFDVBOEPSFHSFTBSBMNJTNPMVHBSQBSBCVTDBSVOOVFWPCPXB
,FOBTJ OPT FOTFÒB FM TFOEFSP IBDJB /BJTXF EPOEF JSÃ NBÒBOB -MFWB USFT P DVBUSP IPSBT EF
DBNJOPMMFHBSIBTUBBIÎQVFEFRVFEBSTFVOBIPSBSFDPMFDUBOEPCPXBTZMVFHPSFHSFTBSFOPUSBTEPT
IPSBT&TOPSNBMRVFVOWJBKFEFSFDPMFDDJÓOEVSFTFJTIPSBTNÃTPNFOPT",FOBTJMFHVTUBMMFOBS
TVDVCPDFSDBEFQMBUPT
BOUFTEFSFHSFTBSBTVDBTB4JFNQSFWBTPMPQFSPQVFEFFODPOUSBSPUSPT
SFDPMFDUPSFTNJFOUSBTFTUÃFOMPTCPTRVFT"WFDFTTFJOUFSDBNCJBOJOGPSNBDJÓOTPCSFFMQBSBEFSPEF
MPTCPXBTQFSPOPTFDVFOUBDPOFMMPQPSRVFFTTJNQMFNFOUFVOBDVFTUJÓOEFTVFSUFVOPQVFEF
IBCFSQFSEJEPMPRVFMPTEFNÃTFODVFOUSBO
,FOBTJJSÃBSFDPMFDUBSCPXBTEFEPTBDJODPWFDFTFTUB
TFNBOBEFQFOEJFOEPEFMBEJTQPOJCJMJEBEEFMPTCPXBTZEFMPTDPNQSBEPSFT
"OUFSJPSNFOUF OP IBCÎB FVDBMJQUPT TJOP CPTRVFT BVUÓDUPOPT -PT CPXBT TF FODPOUSBCBO FO
HSBOEFT DBOUJEBEFT DFSDB EF MPT QPCMBEPT 0USB SB[ÓO QPS MB DVBM UFOFNPT RVF DBNJOBS UBOUP FO
FTUPTEÎBTFTMBDBOUJEBEEFSFDPMFDUPSFT-BHFOUFWBFOCVTDBEFEJOFSPQPSMPUBOUPNÃTQFSTPOBO
QJFOTBOFOMBWFOUBEFCPXBT:PMPTFODVFOUSPTJFNQSFTJFMUJFNQPIBTJEPBEFDVBEPQFSPQVFEF
MMFWBSNVDIPUJFNQPMMFHBSBMMVHBSZUBNCJÊOMMFOBSFMDVCP
&TUB CSFWF OBSSBDJÓO EFTDSJCF FM UJQP EF QSPCMFNBT DPO MPT DVBMFT IBO UFOJEP RVF
FOGSFOUBSTF MPT SFDPMFDUPSFT ,FOBTJ TBCF EPOEF CVTDBS QFSP UBNCJÊO TBCF RVF EFCF
UFOFSTVFSUFQBSBFGFDUVBSVOBCVFOBSFDPMFDDJÓO)BDFVODPNFOUBSJPTPCSFMBQÊSEJEB
EFMPTCPTRVFTBVUÓDUPOPTEPOEFIBCÎBVOBBCVOEBOUFDBOUJEBEEFIPOHPTZEJDFRVF
UJFOF RVF DBNJOBS NVDIP QBSB SFDPMFDUBS )4$ QPSRVF IPZ FO EÎB IBZ DBEB WF[ NÃT
SFDPMFDUPSFT
,FOBTJWJWFDFSDBEFMCPTRVFZGPSNBQBSUFEFVOBDPNVOJEBERVFEFQFOEFEFMPT
CPTRVFTEFNJPNCPQBSBTVBMJNFOUBDJÓOHBOBODJBTZSFGVHJP-BSFDPMFDDJÓOEFCPXBT
FTVOBGVFOUFJNQPSUBOUFEFJOHSFTPTQBSBÊMQFSPUBNCJÊOFTTÓMPVOBEFMBTGPSNBT
EFHBOBSTFMBWJEBDPOFMNJPNCP6ODSFDJFOUFOÙNFSPEFQFSTPOBTIBBQSPWFDIBEPMB
PQPSUVOJEBEQBSBSFDPMFDUBSDPNPTPTUJFOF,FOBTJQPSRVFFOMB[POBEPOEFWJWFFYJTUF
VOCVFODPNQSBEPSVCJDBEPFOVODBNJOPEFQFOFUSBDJÓODFSDBEFMCPTRVF
,FOBTJ FT VOB FYDFQDJÓO ZB RVF MPT SFDPMFDUPSFT EF .BMBXJ TPO QSJODJQBMNFOUF
NVKFSFTDPNPFOFMDBTPEFMB3FQÙCMJDB6OJEBEF5BO[BOÎB)ÅSLÕOFO
ZEF
#VSVOEJ#VZDLC
&M$VBESPEFTDSJCFMPTSFDPMFDUPSFTZTVTQSÃDUJDBTFOVO
CVFO OÙNFSP EF QBÎTFT &O $IJOB MB NBZPS QBSUF EF MPT SFDPMFDUPSFT TPO IPNCSFT
&TQFDJF$BOUIBSFMMVT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
3FDPMFDDJØOEF)4$FOMB3FQÞCMJDB6OJEBEF5BO[BOÓB.ÏYJDP'FEFSBDJØOEF3VTJB#IVUÈO'JOMBOEJB*OEJB
Z$IJOB
"$5*7*%"%5&."
3&1Á#-*$"6/*%"%&5"/;"/¶"
{2VJÏOSFDPMFDUB
1SJODJQBMNFOUFMBTNVKFSFTZMPTOJ×PTBVORVFUBNCJÏOMPTIPNCSFTMPTMMFWBOBTVTDBTBTTJMPT
FODVFOUSBOBMDBNJOBS
3FDPMFDDJØO
4FWBBQJFIBTUBMPTTJUJPT"DDFTPMJCSF/PFYJTUFONÏUPEPTFTQFDJBMFTEFSFDPMFDDJØOOJMFZFT
FTQFDJBMFTQBSBMPTSFDPMFDUPSFT-BHFOUFTBMFUFNQSBOPQPSMBNB×BOBBSFDPMFDUBSMPTEFCJEP
BMBDPNQFUFODJBRVFFYJTUFZTFPSJFOUBOTPCSFMBJNQPSUBODJBEFWFOEFSMPTFOMPTNFSDBEPT
MPDBMFT
5SBEJDJPOFTMPDBMFT
TFMFDDJØOEFMPT
FTQFDÓNFOFT
-PTBODJBOPTDVZBTGBNJMJBTIBCÓBOWJWJEPFOFMNJTNPMVHBSEVSBOUFWBSJBTHFOFSBDJPOFTTBCÓBO
NÈTTPCSFMPTIPOHPTTJMWFTUSFT4FDPOTVNFONVDIBTNÈTFTQFDJFTFOMBTÈSFBTEFNJPNCPRVF
FOMBTDPMJOBT-PT#PMFUPTTPOFWJUBEPTiOJTJRVJFSBMPTNPOPTTFMPTDPNFSÓBOwTJOFNCBSHP
MPTNPOPTDPNFO#&EVMJTFO.BMBXJ
-BHFOUFDPOPDÓBNVZCJFOMBTFTQFDJFTWFOFOPTBT
"MHVOPTHSVQPTEFQFSTPOBTOPDPOTVNJSÓBOOJOHÞOUJQPEFIPOHPTDPNFTUJCMFT-BHFOUF
JOTUSVJEBIBPMWJEBEPDBTJUPEPBDFSDBEFMPTIPOHPTTJMWFTUSFT6OBEJTNJOVDJØOBOÈMPHBTPCSF
MBTUSBEJDJPOFTMPDBMFTQVFEFTFSPCTFSWBEBFO.BMBXJZ;JNCBCXF
"$5*7*%"%5&."
.²9*$0
{2VJÏOSFDPMFDUB
'BNJMJBTFJOEJWJEVPTEFBNCPTTFYPT-BTGPUPTEFMPTNFSDBEPTNVFTUSBTTPMBNFOUFNVKFSFT
WFOEJFOEP
3FDPMFDDJØO
-PTSFDPMFDUPSFTDBNJOBOLNBMEÓBDBSHBOEPVOPTLHEFQSPEVDUPTQBSBTFSWFOEJEPTFO
FMBSDPEFIPSBT&TUPTQSPEVDUPTTPOUSBOTQPSUBEPTIBTUBLNOPFTDMBSPTJQPSQBSUFEF
MPTDPNFSDJBOUFTZPSFDPMFDUPSFT"DDFTPMJCSFBMPTTJUJPT&YJTUFOMFZFTOBDJPOBMFTRVFSFHVMBOMB
SFDPMFDDJØOEFMBTTJFUFFTQFDJFTQSJODJQBMFT
5SBEJDJPOFTMPDBMFT
TFMFDDJØOEFMPT
FTQFDÓNFOFT
4FSFDPMFDUBOUPEPTMPTUJQPTEFNBDSPNJDFUPT6OBHSBOUSBEJDJØOEFVTPEFMPTIPOHPT
TJMWFTUSFT&TUFDPOPDJNJFOUPTFQJFSEFDVBOEPMBTQFSTPOBTFNJHSBOEFTEFMBT[POBTSVSBMFT
BMBTÈSFBTVSCBOBTMBBDFQUBDJØOEFMPTIPOHPTTJMWFTUSFTEFCFSÓBNFOHVBSFTQFDJBMNFOUF
QPSFMDSFDJNJFOUPEFMBTFTQFDJFTDVMUJWBEBT&OHFOFSBMVOBCBKBGSFDVFODJBEFFQJTPEJPTEF
FOWFOFOBNJFOUP
"$5*7*%"%5&."
'&%&3"$*»/%&364*"<4*#&3*">
{2VJÏOSFDPMFDUB
-BTGBNJMJBT
3FDPMFDDJØO
"oLNEFMPTDPOGJOFTEFMPTQVFCMPTPEFMBTQBSBEBTEFMUSBOTQPSUFDPMFDUJWP"MHVOPTTF
EFTQMB[BOQPSLN/PIBZSFTUSJDDJPOFTBMBDDFTPBMPTTJUJPTFYDFQUP
FOMBTSFTFSWBTOBUVSBMFTZFOMPTQBSRVFTOBDJPOBMFT-BDPTFDIBEJBSJBQPESÓBTFSEFBLH
QPSQFSTPOBFOMBTCVFOBTUFNQPSBEBT
5SBEJDJPOFTMPDBMFT
TFMFDDJØOEFMPT
FTQFDÓNFOFT
6OBMBSHBIJTUPSJBEFSFDPMFDDJØORVFTFIBJOUFOTJGJDBEPDPOFMFNQFPSBSEFMBTJUVBDJØO
FDPOØNJDB.VDIBTQFSTPOBTRVFOPTFQVFEFOQFSNJUJSBMJNFOUPTJNQPSUBEPTNJFOUSBTMB
EJTUSJCVDJØOEFBMJNFOUPTBMJOUFSJPSEFMB'FEFSBDJØOEF3VTJBIBEJTNJOVJEP5BNCJÏOMB
SFEVDDJØOEFMBTPQPSUVOJEBEFTEFFNQMFPFOMBTNJOBTZFOMBTJOEVTUSJBTEFTJMWJDVMUVSB4F
SFDPMFDUBOVOBTFTQFDJFTMPT-BDUBSJVTEFMJDJPTVTZ#PMFUVTFEVMJTNÈTJNQPSUBOUFT-PT
FQJTPEJPTEFFOWFOFOBNJFOUPOPIBOTJEPFOVNFSBEPTQPSTFQBSBEPQBSBFTUBSFHJØOTJO
FNCBSHPWÏBTFFOFM$VBESPMPTSFQPSUFTEFPUSBTQBSUFTEFMB'FEFSBDJØOEF3VTJB
"$5*7*%"%5&."
#)65«/
{2VJÏOSFDPMFDUB
-BTGBNJMJBT
3FDPMFDDJØO
"QJF"MHVOPTBDBNQBOZFNQJF[BOBSFDPMFDDJPOBSDPOBOUPSDIBTFOMBNBESVHBEBQBSBFWJUBS
MBDPNQFUFODJB-PTUFSSBUFOJFOUFTMPDBMFTOPQFSNJUFORVFMPTUFSSBUFOJFOUFTEFPUSBT[POBT
WJTJUFOTVTÈSFBT&M/BUJPOBM.VTISPPN$FOUSFIBQSPQPSDJPOBEPFOUSFOBNJFOUPTPCSFVOB
DPTFDIBTPTUFOJCMFBGJORVFSPT)BZQSFPDVQBDJPOFTTPCSFFMEB×PBMPTNJDFMJPTEFMPT
NBUTVUBLFTFOFMTVFMPQSPEVDJEPTQPSMPTNÏUPEPTEFSFDPMFDDJØO
5SBEJDJPOFTMPDBMFT
TFMFDDJØOEFMPT
FTQFDÓNFOFT
4FTBCFQPDPTPCSFMBTUSBEJDJPOFTDPOMPT)4$QFSPQBSFDFOFTUBSCJFOFTUBCMFDJEBT-BBUFODJØO
IPZFOEÓBTFDFOUSBMJ[BFOMPTNBUTVUBLFTRVFUFOÓBOVOWBMPSCBKPMPDBMBOUFTEFFNQF[BSB
TFSFYQPSUBEPTB+BQØO
"$5*7*%"%5&."
'*/-"/%*"
{2VJÏOSFDPMFDUB
/PTFIBOPUBEPOJOHVOBEJGFSFODJBEFHÏOFSPOJEFFEBEFT
3FDPMFDDJØO
-PTSFDPMFDUPSFTWJBKBODPOUSBOTQPSUFQÞCMJDPPQSJWBEPIBTUBMPTTJUJPT)BZBDDFTPMJCSF
FYDFQUPFOMPTQBUJPTQSJWBEPT4FGPNFOUBBDUJWBNFOUFMBSFDPMFDDJØOTFHVJEBEFMPTJOWFOUBSJPT
RVFEFNVFTUSBORVFTØMPVOBNÓOJNBQSPQPSDJØOEFUPEPTMPTIPOHPT
TJMWFTUSFTDPNFTUJCMFTFTVTBEBDBEBB×P
5SBEJDJPOFTMPDBMFT
TFMFDDJØOEFMPT
FTQFDÓNFOFT
"TFTPSBNJFOUPPGJDJBMQSPQPSDJPOBEPTPCSFMPTNFKPSFTIPOHPTRVFSFDPMFDUBSBQSJODJQJPT
QPSMBTDPOEJDJPOFTEFIBNCSFZEFTQVÏTQBSBGPNFOUBSVONFKPSVTPEFMPTSFDVSTPTTJMWFTUSFT
BMJNFOUJDJPT&OFMPFTUFEF'JOMBOEJBMPTLBSFMJBOPTDVZBTUSBEJDJPOFTEFSFDPMFDDJØOZDPOTVNP
EFIPOHPTTPONVDIPNÈTGVFSUFTTBCPSFBOEJGFSFOUFTFTQFDJFT
"$5*7*%"%5&."
*/%*"<."%):"13"%&4)>
{2VJÏOSFDPMFDUB
5PEBMBGBNJMJBBVORVFMBTNVKFSFTTPONVDIPNÈTBDUJWBT
3FDPMFDDJØO
-PTNJFNCSPTEFMBTUSJCVTNÈTDPOPDJEBTDPOIÈCJUBUZQFSÓPEPTEFGSVDUJGJDBDJØO/PIBZ
SFTUSJDDJPOFTBMBDDFTPBMPTTJUJPTEFSFDPMFDDJØO
5SBEJDJPOFTMPDBMFT
TFMFDDJØOEFMPT
FTQFDÓNFOFT
4FSFDPMFDUBONVDIBTFTQFDJFT
0SEFOBDJÓOMPT IPOHPTTJMWFTUSFTDPNFTUJCMFTMPTÃSCPMFTZMPTVTVBSJPTEFCPTRVFT
"$5*7*%"%5&."
$)*/"<:6//"/>
{2VJÏOSFDPMFDUB
-PTIPNCSFTUJFOFONBZPSJOUFSÏTFOMBSFDPMFDDJØO
3FDPMFDDJØO
-BTQFSTPOBOOPWBOBSFDPMFDUBSEFGPSNBSFHVMBSQPSRVFMBTFTQFDJFTDVMUJWBEBTTPOEJTQPOJCMFT
EVSBOUFUPEPFMB×P
5SBEJDJPOFTMPDBMFT
TFMFDDJØOEFMPT
FTQFDÓNFOFT
4ØMPMBTÈSFBTNPOUB×PTBTTPOWJTJUBEBTFMNBZPSOÞNFSPDPOUBEPQPSVOIPNCSFGVFEF
FTQFDJFTDPNFTUJCMFT-BHFOUFUJFOFVOBCVFOBDPHOJDJØOEFMBTFTQFDJFTWFOFOPTBT
"$5*7*%"%5&."
$)*/"<4*$)6"/:«3&"4"'*/&4>
{2VJÏOSFDPMFDUB
/PTF×BMBEP
3FDPMFDDJØO
1SFPDVQBDJPOFTTPCSFMBEJTNJOVDJØOFOMBQSPEVDDJØOEFNBUTVUBLFTFOMB1SFGFDUVSB
"VUØOPNBEF%FHFO5JCFUBOPBMOPSPFTUFEF:VOOBO5JFOFFMQPSDFOUBKFNÈTBMUPEFEFDMJOP
FOMBQSPEVDUJWJEBE&TUPFTUÈSFMBDJPOBEPDPOMBTQÏTJNBTUÏDOJDBTEFDVMUJWBDJØOSBTUSJMMFP
-BWFOUBQPSUBNB×PTGPNFOUBMPTNÏUPEPTEB×JOPTEFSFDPMFDDJØO/PIBZEJTNJOVDJØOFO
MBQSPEVDUJWJEBEFOFMWBMMFEF-JUPOHT+VNCBEPOEFTFWFOEFOBMQFTP-PTSFDPMFDUPSFTEF
$PSEZDFQTTJOFOTJTFOFMDPOEBEPEF-JUBOHFTUÈODPOGJOBEPTBMPTUFSSFOPTEFQBTUPSFPMFHBMP
FOMPTCPTRVFTEPOEFUJFOFOEFSFDIPEFBDDFTP-BTQFSTPOBTEFGVFSBEFCFOQBHBSVOBDVPUB
BMBZVOUBNJFOUPMPDBMQBSBMBSFDPMFDDJØOMPRVFIBQSPEVDJEPBMHVOPTDPOGMJDUPT-BSFDPMFDDJØO
EFPUSBTFTQFDJFTDPNFTUJCMFTTFEBFO[POBTWBTUBT3JKTPPSUZ1JLVO
5SBEJDJPOFTMPDBMFT
TFMFDDJØOEFMPT
FTQFDÓNFOFT
6OBHSBOUSBEJDJØOEFSFDPMFDDJØOEFMBTFTQFDJFTDPNFTUJCMFTZNFEJDJOBMFT-PTNBUTVUBLFTOP
FSBODPNÞONFOUFSFDPMFDUBEPTBOUFTEF
'VFOUFT3&1Á#-*$"6/*%"%&5"/;"/¶"o)ÊSLÚOFO.²9*$0o#BOEBMB.POUPZBZ$IBQFMB.POUPZB&TRVJWFMFU
BMZXXXTFNBSOBUHPCNY'&%&3"$*»/%&364*"o7MBEZTIFWTLJZ-BMFUJOZ7MBEZTIFWTLJZ#)65«/o/BNHZFM
'*/-"/%*"o)ÊSLÚOFO1FLLBSJOFOZ.BMJSBOUB*/%*"."%):"13"%&4)
o)BSTI3BJZ4POJ$)*/":6//"/
o)ÊSLÚOFO$)*/"4*$)6"/ZÈSFBTBGJOFT
o8JOLMFS:FI
&O.ÊYJDPEPOEFFYJTUFVOBDPTFDIBFYUFOTJWBDBEBBÒPTPOIPNCSFTZNVKFSFT&O
.BMBXJ FM UJFNQP NÃYJNP VUJMJ[BEP QBSB MB SFDPMFDDJÓO EF )4$ Z TV USBOTQPSUF BM
NFSDBEPFTNFOPTEFIPSBT$VBMRVJFSSFUSBTPZMBTTFUBTQBSBMBWFOUBTFEFUFSJPSBO
ZTFEFTWBMPSJ[BO-BTNVKFSFTEFMBSFHJÓOEF.[JNCBBMOPSUFEF.BMBXJDBNJOBO
IBTUB LJMÓNFUSPT QBSB MMFHBS BM NFSDBEP NÃT DFSDBOP FO .[V[V &TUP MJNJUB MB
SFDPMFDDJÓO B VOB KPSOBEB EF USBCBKP EF TFJT IPSBT JODMVZFOEP JEB Z WVFMUB
EF TVT
DBTBT-PXPSF.VOUIBMJZ#PB
-BTEJTUBODJBTFOUSFTVTDBTBTMPTCPTRVFTZMPT
DPNQSBEPSFTTPONÃTSFEVDJEBTFO-JXPOEFDFSDBEF;PNCB-PXPSFZ#PB
HSBDJBTBMBQSPYJNJEBEEFMBDBSSFUFSBQSJODJQBMVOQVOUPEFWFOUBNVZDPNÙOQBSB
MPT)4$FONVDIPTQBÎTFTBGSJDBOPT*MVTUSBDJÓO
&OMB'FEFSBDJÓOEF3VTJBZ6DSBOJBUPEBMBGBNJMJBWBBFTUPTWJBKFTEFSFDPMFDDJÓO
MPRVFQBSFDFTFSNÃTVOBDPOUFDJNJFOUPTPDJBMRVFVOBSFDPMFDDJÓOQBSBMBWFOUB-BT
EJTUBODJBTSFDPSSJEBTIBTUBMPTTJUJPTNFKPSFTQVFEFOTFSTVTUBODJBMFT$VBESP
-PT
JONJHSBOUFTSFDPMFDUBO)4$FOMBCJPSFHJÓOEF,MBNBUI$BSPMJOBEFM/PSUF
NVDIPT
EFFMMPTEFMTVEFTUFBTJÃUJDP3JDIBSETZ$SFBTZ
BUSBÎEPTQPSMBTPQPSUVOJEBEFT
EFUSBCBKP.VZQSPOUPBQSFOEFORVFMBDPNQFUFODJBFTGFSP[ZRVFOPTFHBSBOUJ[BO
MBT HBOBODJBT )B IBCJEP DPOGMJDUPT FOUSF SFDPMFDUPSFT Z VOB EFTDPOGJBO[B HFOFSBM EF
MBHFOUFEFMTVEFTUFBTJÃUJDPFOQBSUFEFCJEPBTVFTDBTPJOHMÊTZBMBGBMUBEFSFTQFUP
EF MBT MFZFT TPCSF EÓOEF SFDPMFDUBS 6O JOGPSNF EF VO SFDPMFDUPS FTUBEPVOJEFOTF EF
NBUTVUBLF.PPSF
PGSFDFVOBWFSTJÓOQFSTPOBMEFBMHVOPTBOUBHPOJTNPTRVFMB
NBOPEFPCSBJONJHSBOUFUJFOFRVFTVQFSBSDPOÊYJUPFOFTUFDBTPQBSUJDVMBS
$VBOEP IBZ EJOFSP EF QPS NFEJP FO MB SFDPMFDDJÓO EF MPT )4$ TVSHFO BMHVOPT
QSPCMFNBTBWFDFTFOHSBOEFDJEPTQPSIJTUPSJBTFYBHFSBEBTEFQPTJCMFTHBOBODJBT-BT
QPCMBDJPOFT EF 4JDIVBO DPNQSPNFUJEBT FO CBUBMMBT DPOUJOVBT QBSB EFUFSNJOBS MPT
EFSFDIPTMPDBMFTEFMPTTJUJPTEFNBUTVUBLFTDVMNJOBSPODPOFMTBCPUBKFEFMBTGVFOUFT
EF BHVB RVFEÃOEPTF TJO BCBTUFDJNJFOUP EF FTUF MÎRVJEP WJUBM EVSBOUF EÎBT
Z DPO
MB EFTUSVDDJÓO EF VO QVFOUF JNQPSUBOUF 6O QPCMBEP BNFOB[Ó OP TPMBNFOUF DPO MB
DPOUJOVBDJÓOEFMUSBTUPSOPEFMBWJEBEFMQPCMBEPSJWBMTJOPUBNCJÊODPOiFTDPOEFSMBT
QJF[BTEFMBTDBÒFSÎBTFOFMCPTRVFEFUBMGPSNBRVFOPQVEJFSBOTFSSFQBSBEBTu:FI
5BMFTDPOGMJDUPTTPOSBSPTQFSPDVBOEPFMEJOFSPTFWVFMWFFMQSJODJQBMPCKFUJWP
EFMBSFDPMFDDJÓOMBPSEFOBDJÓOEFMPTSFDPMFDUPSFTZFMBDDFTPBMPTTJUJPT
OFDFTJUBO
VOBBEKVEJDBDJÓODVJEBEPTB
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
-BNBZPSQBSUFEFMPTSFDPMFDUPSFTUSBCBKBOBMMBEPEFMPTEFNÃTTJOOJOHÙOQSPCMFNB
&TUPOPTJHOJGJDBRVFOFDFTBSJBNFOUFDPPQFSBOFOMBDPTFDIB&OFMOPSUFEF&TQBÒBMPT
OÎTDBMPT -BDUBSJVT EFMJDJPTVT
TPO WFOEJEPT B MPT DPNQSBEPSFT EF $BUBMVÒB HBOBOEP
QFRVFÒBTQFSPÙUJMFTDBOUJEBEFTEFEJOFSP*ODMVTPMPTNFKPSFTBNJHPTSFIÙTBOSFWFMBS
MBVCJDBDJÓOEFMPTTJUJPTGBWPSJUPTEF3PNÃODPNVOJDBDJÓOQFSTPOBM5SBEFJO
OÎTDBMPTGSPN/PSUI4QBJOUP$BUBMPOJBBOEUSVGGMFQSPEVDUJPO
-BSFDPMFDDJÓODPNFSDJBMEFIPOHPTTJMWFTUSFTFTVOBBDUJWJEBESFDJFOUFZFOQFRVFÒB
FTDBMBFO&TDPDJB"OUFSJPSNFOUFIBCÎBSFDPMFDDJPOFTFTQPSÃEJDBTZNFOPSFTQBSBVTP
QFSTPOBM -PT UFSSBUFOJFOUFT EF MBT ÃSFBT GPSFTUBMFT QSJWBEBT JOWPMVDSBEBT FYQSFTBSPO
NVDIBQSFPDVQBDJÓOTPCSFMBBGMVFODJBEFSFDPMFDUPSFT%ZLFZ/FXUPO
x "DDFTPOPBVUPSJ[BEPEFSFDPMFDUPSFTFOTVTUJFSSBT
x 1ÊSEJEBEFHBOBODJBTMPTQSPQJFUBSJPTOPTFCFOFGJDJBCBOEFMBSFDPMFDDJÓOFOTVT
UJFSSBTUBNQPDPQPEÎBOHBOBSEJOFSPPSHBOJ[BOEPKPSOBEBTEFSFDPMFDDJÓOTJMBT
TFUBTZBIBCÎBOTJEPSFDPHJEBT
x %BÒPTBMPTSFDVSTPT)4$ZFMCPTRVF
x $POGMJDUPT DPO MB DB[B VOB GVFOUF JNQPSUBOUF EF HBOBODJB QBSB BMHVOPT
UFSSBUFOJFOUFT
&M QPS DJFOUP EF MPT SFDPMFDUPSFT FOUSFWJTUBEPT FO &TDPDJB OP TBCÎBO B RVJFO
QFSUFOFDÎBOMBTUJFSSBTEPOEFSFDPMFDUBCBO&TUFFTUVEJPFTVOCVFOFKFNQMPTPCSFDÓNP
SFDPHFSJOGPSNBDJÓOQBSBFMEFTBSSPMMPEFMPTQMBOFTEFHFTUJÓO
-PTSFDPMFDUPSFTQSPWJFOFOEFVOBBNQMJBFTGFSBEFDMBTFTTPDJBMFTQFSPMBJNQSFTJÓO
HFOFSBM FT RVF TPO QPCMBDJPOFT SVSBMFT QPCSFT RVF IBO WJWJEP USBEJDJPOBMNFOUF FO FM
DBNQPZQBSBMBTDVBMFTMPT)4$TPOVOBGVFOUFEFBMJNFOUPHFOFSBMNFOUFOPSFHJTUSBEB
%F,FTFM$PEKJBZ:PSPV
.²50%04%&$04&$)":&/'026&4
-BDPTFDIB
&M JNQBDUP EF MB DPTFDIB EF )4$ FT GSFDVFOUFNFOUF FMFWBEP Z VO FTUVEJP SFDJFOUF
TVNJOJTUSBVOTVNBSJPEFBZVEBTPCSFMPTBSHVNFOUPTGVOEBNFOUBMFTRVFFTUBNPTQPS
FYQMPSBSEFUBMMBEBNFOUF1JM[Z.PMJOB
-B SFDPMFDDJÓO EF )4$ TF DPNQBSB TJFNQSF DPO FM DPSUF EF GSVUBT EF VO ÃSCPM
$PSUBS UPEBT MBT GSVUBT OP BGFDUB MB TJHVJFOUF DPTFDIB B NFOPT RVF TF EBÒF FM ÃSCPM
QFSP QPESÎB QSPEVDJS JNQBDUPT FO MB SFHFOFSBDJÓO &TUP QBSFDF TFS WFSEBEFSP QBSB
MPT )4$ QFSP TVSHFO BMHVOBT EVEBT MB SFNPDJÓO EF MPT DBSQÓGPSPT DFSSBEPT OP
QFSNJUFFMFTQBSDJNJFOUPEFMBTFTQPSBT&OBMHVOBT[POBTEF*UBMJBMBTMFZFTQSPIÎCFO
MB SFDPMFDDJÓO EF MPT QSJNFSPT SFCSPUFT EF BMHVOBT FTQFDJFT DPNFTUJCMFT ;BNCPOFMMJ
DPNVOJDBDJÓO QFSTPOBM 5SVGGMFT BOE DPMMFDUJOH QPSDJOJ JO *UBMZ
&TUP UJFOF
UBNCJÊOVOTFOUJEPQSÃDUJDPZBRVFMPTQSJNFSPTDBSQÓGPSPTHFOFSBMNFOUFTPOEBÒBEPT
QPSMPTJOTFDUPT"MHVOPTSFDPMFDUPSFTEFTQMJFHBOFMTPNCSFSPEFMBTTFUBTQBSBQFSNJUJS
MBEJTQFSTJÓOEFMBTFTQPSBT
6O FTUVEJP FO 4VJ[B SFWFMÓ RVF MB SFDPMFDDJÓO EF MPT DBSQÓGPSPT EF FTQFDJFT
EF NBDSPNJDFUPT FO VO QFSÎPEP EF EJF[ BÒPT OP UFOÎB FGFDUPT TJHOJGJDBUJWPT FO MB
QSPEVDDJÓO&HMJ"ZFSZ$IBUFMBJO
4JMPTTVFMPTTPODPNQBDUPTZFMMFDIPEF
IPKBTFTQJTPUFBEPTFQVFEFBGFDUBSMBQSPEVDDJÓO-BFYDBWBDJÓOJOEJTDSJNJOBEBFOMB
CÙTRVFEB EF USVGBT QPS FKFNQMP FT EBÒJOB &M SBTUSJMMFP EVSBOUF MB CÙTRVFEB EF MPT
NBUTVUBLFTKÓWFOFTFJONBEVSPTRVFQVFEFOTFSWFOEJEPTBVOQSFDJPNBZPS
EBÒBMPT
NJDFMJPTQSFTFOUFTFOMBTDBQBTTVQFSJPSFTEFMTVFMP&TUPTFQVFEFFWJUBSJEFOUJGJDBOEP
EFBOUFNBOPMBTÃSFBTQPTJCMFTEFNBUTVUBLFTMVFHPVTBOEPMBTNBOPTQBSBMPDBMJ[BSMBT
QSPUVCFSBODJBTRVFBOVODJBOMBTBMJEBJONJOFOUFEFDBSQÓGPSPT"SPSB
-B NBZPSÎB EF MBT FTQFDJFT EF IPOHPT DPNFTUJCMFT TPO SFDPMFDUBEBT TJO DBVTBS
EBÒPT EBEP RVF TVT DBSQÓGPSPT Z QBSUFT DPNFTUJCMFT FTUÃO UPEBT TPCSF MB UJFSSB -B
SFDPMFDDJÓO EF USVGBT TQ 5VCFS
HFOFSBMNFOUF FT FGFDUVBEB DPO QFSSPT FOUSFOBEPT
*MVTUSBDJÓO
&MVTPUSBEJDJPOBMEFDFSEPTEFUSVGBTIBTJEPQSPIJCJEPFO*UBMJBQPSRVF
0SEFOBDJÓOMPT IPOHPTTJMWFTUSFTDPNFTUJCMFTMPTÃSCPMFTZMPTVTVBSJPTEFCPTRVFT
FTEJGÎDJMDPOUSPMBSMPTZQPSRVFBWFDFTTFMBTDPNFO &O$IJOBOPTFVUJMJ[BOQFSSPT
FOMBSFDPMFDDJÓOEFUSVGBTZMBTFYDBWBDJPOFTQPSEPRVJFSFGFDUVBEBTQBSBMPDBMJ[BSMPT
DBSQÓGPSPTBGFDUBSÃOMBTQSPEVDDJPOFTGVUVSBT
&M FTUVEJP TVJ[P UBNCJÊO FWJEFODJÓ FM FGFDUP EFM QJTPUFP FO MB QSPEVDDJÓO EF VOB
FTQFDJF EF SFCP[VFMPT 4JO FNCBSHP TF SFTUBCMFDJÓ FM SFOEJNJFOUP iOPSNBMu VOB WF[
RVFGVFFMJNJOBEPFMQSPCMFNBEFMQJTPUFP&HMJ"ZFSZ$IBUFMBJO
RVFEFUPEBT
GPSNBTOPFTDPOTJEFSBEPVOBGVFOUFEFEBÒPDPNÙO&MOÙNFSPEFSFDPMFDUPSFTQPS
ÃSFB VOJUBSJB EF CPTRVFT FT HFOFSBMNFOUF CBKP Z OP IBZ FWJEFODJBT EF RVF FM QJTPUFP
IBZB BGFDUBEP FM SFOEJNJFOUP FO .BMBXJ QPS FKFNQMP -B SFDPMFDDJÓO DPNFSDJBM OP
JODSFNFOUBMBQSFTJÓOFOMPTTJUJPTZBRVFMPT)4$DSFDFOTJFNQSFFOVOBBNQMJBÃSFBZ
MPTSFDPMFDUPSFTTFNBOUJFOFOTFQBSBEPTEVSBOUFMBCÙTRVFEB
"VNFOUBSMBQSPEVDUJWJEBE
-B EJTNJOVDJÓO FO MB QSPEVDDJÓO EF NBUTVUBLFT FO +BQÓO FO JNQVMTÓ
JOWFTUJHBDJPOFT TPCSF DPNP NBYJNJ[BS FM SFOEJNJFOUP JO TJUV 4F MPHSÓ BMHÙO TVDFTP
BVORVF FM JODSFNFOUP BMDBO[BEP FO MB QSPEVDDJÓO OP MPHSÓ DPOUFOFS MB EJTNJOVDJÓO
HFOFSBM&OMB3FQÙCMJDBEF$PSFBBMHVOPTNÊUPEPTJODMVZFSPOMBJSSJHBDJÓOZFMDPOUSPM
EFMBWFHFUBDJÓO,PPZ#JMFL
&O'JOMBOEJBGVFSPOFYBNJOBEPTUSBUBNJFOUPTBMB
TVQFSGJDJFEFMTVFMPQBSBFMBVNFOUPEFMBQSPEVDDJÓOEF(ZSPNJUSBFTDVMFOUB+BMLBOFO
Z +BMLBOFO &TUPT FOGPRVFT TPO QPUFODJBMNFOUF DPTUPTPT Z OP TF TBCF RVF UBO
WBMJPTPTIBZBOTJEPQBSBJODSFNFOUBSFMSFOEJNJFOUPGJOBODJFSP
6OBBMUFSOBUJWBFTMBPSEFOBDJÓOGPSFTUBMFOGPSNBUBMRVFJODSFNFOUFMBQSPEVDDJÓO
EF MPT )4$ "MHVOBT UFOUBUJWBT IBO TJEP FGFDUVBEBT FO FM 1BDÎGJDP OPSPFTUF EF
/PSUFBNÊSJDB QBSB OJWFMBS MB QSPEVDDJÓO NBEFSFSB Z EF )4$ 8FJHBOE -BT
DPODMVTJPOFTEFVOFTUVEJPTPCSFMBPSEFOBDJÓOEFMBTDPOÎGFSBTBVUÓDUPOBTFOMPT&TUBEPT
6OJEPTZMBQSPEVDDJÓOEF)4$JODMVZFOEPMPT5SJDIPMPNBNBUTVUBLFZMPTSFCP[VFMPT
TQ$BOUIBSFMMVT
FTUÃOSFTVNJEBTFOMPTTJHVJFOUFTJODJTPT1JM[Z.PMJOB
x -BT DPSUBT B IFDIP QFSUVSCBO MB QSPEVDDJÓO EF MB NBZPS QBSUF EF MPT IPOHPT
FDUPNJDPSSÎ[JDPTDPNFTUJCMFTQPSNÃTEFEJF[BÒPT4PMBNFOUFTFSFDVQFSBVOBWF[
RVFIBOTJEPSFTUBCMFDJEPTMPTIPOHPTFOMPTÃSCPMFTRVFTPOMPTVGJDJFOUFNFOUF
WJFKPTQBSBQSPQPSDJPOBSMPTOVUSJFOUFTOFDFTBSJPT
x 6O SPEBM NFOPT FTQFTP EPOEF FTUBT FTQFDJFT BSCÓSFBT TPO SFNPWJEBT
TFMFDUJWBNFOUF QBSB BMFOUBS FM DSFDJNJFOUP EF MBT SFTUBOUFT Z QBSB FMJNJOBS MPT
FTQFDÎNFOFTFOGFSNPT
GBDJMJUBFMBDDFTPBMBMMVWJBZBMBMV[TPMBSZVONPKBEPZ
TFDBEPNÃTSÃQJEPTEFMTVFMPEFMCPTRVF6OBUBMBQFTBOUFFOVOTJUJPEFBCFUPT
%PVHMBTSFEVKPEFMQPSDJFOUPMBQSFTFODJBEFSFCP[VFMPTFOMPTBÒPTTJHVJFOUFT
6OBUBMBNFOPTGSFDVFOUFQPESÎBBZVEBSBNBOUFOFSMBQSPEVDDJÓOEFIPOHPTQFSP
MB DBSFODJB EF QSPEVDDJÓO FO MPT CPTRVFT NBEFSFSPT QPESÎB DPOUSBSSFTUBS FTUPT
CFOFGJDJPT
x -BDPNQBDUBDJÓOEFMPTTVFMPTEFMBTPQFSBDJPOFTEFUBMBSFEVDFMBQSPEVDUJWJEBE
NJFOUSBT MB SFNPDJÓO EF MBT SBNBT NÃT HSBOEFT WVFMWFO NÃT GÃDJM Z TFHVSP
FODPOUSBS IPOHPT TJMWFTUSFT TJO JODSFNFOUBS OFDFTBSJBNFOUF MB QSPEVDUJWJEBE EF
CBTF
&MBTQFDUPDSÎUJDPFOFMGPSUBMFDJNJFOUPEFMBQSPEVDDJÓOEF)4$FTTVJNQPSUBODJB
FDPOÓNJDBDPNQBSBEBBMWBMPSEFMCPTRVFNBEFSFSPZEFPUSPTVTVBSJPTEFCPTRVFT
&TUPTFFOUJFOEFNVZQPDPHFOFSBMNFOUFQPSRVFIBDFOGBMUBEBUPTQSFDJTPTTPCSFFM
WBMPSEFMBTDPTFDIBT
.&%*3-"130%6$$*»/
&MSFOEJNJFOUP
&O FM $VBESP IFNPT SFTVNJEP MB JOGPSNBDJÓO TPCSF MPT FTUVEJPT FYQFSJNFOUBMFT
MMFWBEPTBDBCPFODJODPQBÎTFT&TEJGÎDJMIBDFSDPNQBSBDJPOFTQPSRVFBMHVOPTFTUVEJPT
JODMVZFO UPEBT MBT FTQFDJFT DPNFTUJCMFT NJFOUSBT PUSPT NJEFO MB QSPEVDUJWJEBE EF
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
3FOEJNJFOUPEFMPTIPOHPTTJMWFTUSFTFOBMHVOPTQBÓTFT
1"¶4
%&5"--&440#3&&-3&/%*.*&/50"/6"-
$"/5*%"%
LHIB
'6&/5&4
&TUBEPT6OJEPT
1BDÓGJDPOPSPFTUF
B
5SJDIPMPNBNBHOJWFMBSFC
TQQ.PSDIFMMB
D
TQQ$BOUIBSFMMVT
B
o
C
o
D
o
1JM[Z.PMJOB
&TUPOJBOPSPFTUF
1SPNFEJPEFUPEPTMPTIPOHPTDPNFTUJCMFTFOUSFT TJUJPTEFBBM
,BMBNFFTZ4JMWFS
&TUPOJBOPSPFTUF
1SPDFEJØEFB
4VJMMVTWBSJFHBUVToVOTJUJPZEF
C
-BDUBSJVTSVGVToUSFTTJUJPT
B
C
,BMBNFFTZ4JMWFS
'FEFSBDJØOEF3VTJB i-PTIPOHPTDPNFTUJCMFT
NÈTQPQVMBSFTw
4JCFSJBDFOUSBM
o
7MBEZTIFWTLJZ-BMFUJOZ
7MBEZTIFWTLJZ
'FEFSBDJØOEF
3VTJB"SLIBOHFMTL
B
-BDUBSJVTUPSNJOPTVTC
iIPOHPEFTPNCSFSP
SPKPwFTQFDJF3VTTVMB{ B
o
C
$IJCJTPWZ%FNJEPWB
'JOMBOEJBOPSUF
5PEPTMPTIPOHPTDPNFTUJCMFTFO4PULBNPB
ZC
B
C
,PJTUJOFO
'JOMBOEJB
(ZSPNJUSBFTDVMFOUBOPUFMBTGMVDUVBDJPOFT
ZCVFOPZFTDBTP
NFEJPDSF
o
+BMLBOFOZ+BMLBOFO
.ÏYJDP
5PEBTMBTFTQFDJFTDPNFTUJCMFTEFEPTTJUJPT
-ØQF[$SV[Z;BNPSB
.BSUÓOF[
.ÏYJDP7FSBDSV[
5PEBTMBTFTQFDJFTDPNFTUJCMFTEPTTJUJPTB
ZC
FOZSFTQFDUJWBNFOUF
B
C
7JMMBSSFBMZ(V[NÈO
B
.ÏYJDP7FSBDSV[
B
4VJMMVTHSBOVMBUVTC
$BOUIBSFMMVTDJCBSJVTD
"NBOJUBDBFTBSFBE
#PMFUVTFEVMJT1BSBZ
SFTQFDUJWBNFOUF
B
C
D
OE
E
7JMMBSSFBMZ(V[NÈO
B
&TUBTDBOUJEBEFTTPOEFQSPEVDUPTQFTPGSFTDPPTFQSFTVNFRVFMPTFBO
-BTCBTFTEFEBUPTEF7JMMBSFBMZ(V[NÈOTFCBTBOFOMB
FYUSBQPMBDJØOEFEPTÈSFBTQFSNBOFOUFTEFN FODBEBTJUJP
&MEB×PDBVTBEPQPSMPTJOTFDUPTSFEVDFMBTDBOUJEBEFTDVMUJWBEBTEFFTQFDJFTDPNFTUJCMFTFYDMVZFOEPMBT-SVGVTEFMQPSDJFOUP
BQSPYJNBEBNFOUF
OEOPIBZEBUPTEJTQPOJCMFT
FTQFDJFTJOEJWJEVBMFT-PTNÊUPEPTEFNVFTUSBTUBNCJÊODBNCJBODPOQBSDFMBTZÃSFBT
UPUBMFTPCTFSWBEBTBNFOVEPEFNBTJBEPQFRVFÒBTQBSBDPODMVTJPOFTHFOFSBMFT
-PT SFTVMUBEPT EF .ÊYJDP JOEJDBO RVF QVFEFO TFS QSPEVDJEPT IBTUB LH EF
)4$ QPS IB FO VO CVFO BÒP -PT SFOEJNJFOUPT EF PUSPT QBÎTFT TPO HFOFSBMNFOUF
NFOPSFT BMSFEFEPS EF LH QPS IB Z BÙO NFOPSFT &TUBT WBSJBDJPOFT OBUVSBMFT TF
EBOEFBÒPFOBÒP7JMMBSSFBMZ(V[NÃO7JMMBSSFBMZ(V[NÃOBC
Z
TJO MPT EBUPT DSPOPMÓHJDPT FT EJGÎDJM QMBOUFBS DPODMVTJPOFT ÙUJMFT TPCSF MB QSPEVDDJÓO
EFVOTPMPBÒP)BZVOBFYJHFODJBFGFDUJWBEFNFKPSBSMBDVBMJEBEZMBFTGFSBEFEBUPT
TPCSFFMSFOEJNJFOUP)BOTJEPFYQSFTBEBTQSFPDVQBDJPOFTTPCSFMBiEJTNJOVDJÓOEFM
SFOEJNJFOUPu BVORVF FYJTUF MB GBMUB EF EBUPT QVCMJDBEPT RVF QFSNJUJSÎBO VO FYBNFO
NÃT EFUBMMBEP EF MPT JNQBDUPT EF MB SFDPMFDDJÓO DPNFSDJBM FO 1PSUVHBM #BQUJTUB
'FSSFJSB
ZFOMB'FEFSBDJÓOEF3VTJB,PWBMFOLP
QPSFKFNQMP
&OFM$VBESPTFSFTVNFOMPTEBUPTOBDJPOBMFTEFBMHVOPTQBÎTFTTPCSFMBTDBOUJEBEFT
DPTFDIBEBTEFNVDIBTFTQFDJFTDPNFSDJBMFT-BQSPEVDDJÓOUPUBMFODVBMRVJFSQFSÎPEP
EBEPTFSÃNBZPS-PTEBUPTEFMPTQBÎTFTFOEFTBSSPMMPTPOSFQSFTFOUBEPTFTDBTBNFOUFZ
IBTJEPFGFDUVBEPVOUFOUBUJWPEFFTUJNBSMBQSPEVDDJÓOQPUFODJBMEFMFTUBEPEF5MBYDBMB
FO.ÊYJDPEPOEFTPOBNQMJBNFOUFSFDPMFDUBEPTMPT)4$5MBYDBMBUJFOFIBEF
CPTRVFT EF MPT DVBMFT IB TPO DPOÎGFSBT Z EF IPKBT BODIBT -BT ÃSFBT SFTUBOUFT
UJFOFOTPMPFTQFDJFTBSCÓSFBTEFIPKBTBODIBT6OSFOEJNJFOUPQPUFODJBMEFLHQPS
IB QPS BÒP EF )4$ FO MBT IB QSPQPSDJPOBSÎB VOB DPTFDIB QPUFODJBM EF UPOFMBEBT 6OP EF MPT GBDUPSFT SFTUSJDUJWPT QSJODJQBMFT TJ OP FM GBDUPS QSJODJQBM FO MB
DBOUJEBEDPTFDIBEBZWFOEJEBFTFMUJFNQPFNQMFBEPQBSBSFDPMFDUBSZMMFWBSMPTIPOHPT
IBTUBVOQPTJCMFQVFTUPEFDPNQSBT
-B QSFHVOUB JNQPSUBOUF TPCSF DVÃOUP EF MB QSPEVDDJÓO UPUBM FT BDUVBMNFOUF
DPTFDIBEPFODVBMRVJFSUFNQPSBEBTFRVFEBMBNBZPSQBSUFEFMBTWFDFTTJOSFTQVFTUB
JODMVTPQBSBMBTFTQFDJFTDPNFSDJBMFTEF)4$
0SEFOBDJÓOMPT IPOHPTTJMWFTUSFTDPNFTUJCMFTMPTÃSCPMFTZMPTVTVBSJPTEFCPTRVFT
$6"%30
1SPEVDDJØOOBDJPOBMEFIPOHPTDPNFTUJCMFT
1"¶4
¶5&.)4$
$"/5*%"%
UPOFMBEBT
'6&/5&
#JFMPSSVTJB
i3FDVSTPTwEFB
.BMZJ
$BOBEÈ
&YQPSUBDJØOBOVBMFTUJNBEB
o
EF(FVT
$BOBEÈ
3FCP[VFMPTCPMFUPTZIPOHPTDPMNFOJMMB
iFYQPSUBEPTFOVOBCVFOBUFNQPSBEBwi
8JMMTZ-JQTFZ
$IJOB
1SPEVDDJØOEFCPMFUPT-BDUBSJVTEFMJDJPTVTZ
iPUSPTw{IPOHPTTJMWFTUSFTDPNFTUJCMFT 4VOZ9V
&TUBEPT6OJEPT
8"Ø*%
5PEPTMPTIPOHPTTJMWFTUSFTSFDPMFDUBEPTQBSBFM
DPNFSDJP
4DIMPTTFSZ#MBUOFS
&TUPOJB
1SPNFEJPBOVBMEFFYQPSUBDJØOo
1BBM
'FEFSBDJØO
EF3VTJB
"SLIBOHFMTL
3FDPMFDUBEPTBOVBMNFOUFQPSMBQPCMBDJØOMPDBM FO
$IJCJTPWZ%FNJEPWB
'JOMBOEJB
3FOEJNJFOUPTFOB
C
ZD
B
C
D
)ÊSLÚOFO
1PMPOJB
1SPEVDDJØOEFIPOHPTTJMWFTUSFT
DPNFTUJCMFT
FO
#VLPXTLJ
&TUBTDBOUJEBEFTTPOEFQSPEVDUPTQFTPGSFTDPPRVFFOBVTFODJBEFPUSBJOGPSNBDJØOTFQSFTVNFRVFMPTFBO-PT
EBUPTTPCSFMBQSPEVDDJØOEFMPTQBÓTFTCPSFBMFTZEFUFNQFSBUVSBTGSÓBTQFK-JUVBOJB
GVFSPOEJTQPOJCMFTEFNBTJBEP
UBSEFQBSBQPEFSMPTJODMVJSFOFTUFDVBESP-VOE1BKBSJZ,PSIPOFO
#VTRVFMBJOGPSNBDJØOSFMBDJPOBEBTPCSFFM
&MJOWFOUBSJP
)BOTJEPFGFDUVBEPTFTGVFS[PTDPOKVOUPTQBSBDBMDVMBSMBQSPEVDUJWJEBEEFMBTFTQFDJFT
DPNFSDJBMFTEF)4$FO/PSUFBNÊSJDB1JM[Z.PMJOB
&OGPRVFTBOÃMPHPTGVFSPO
VUJMJ[BEPTFO.BMBXJQBSBEBSTFHVJNJFOUPBMBQSPEVDDJÓOEFMBTFTQFDJFTDPNFTUJCMFT
.FLFJO#PBFUBM
6OUPUBMEFN¤NEFQBSDFMBTGVFSPOFWBMVBEBTFO
DJODPCPTRVFTEFNJPNCP
BVUÓDUPOPTEFBZMPTSFTVMUBEPTJOJDJBMFTQVFTUPT
BEJTQPTJDJÓOFOXXXNBMBXJGVOHJPSH-BJOGPSNBDJÓOSFDPHJEBJODMVZFFMOÙNFSPZ
FMQFTPEFMPTDBSQÓGPSPTZTVQSPYJNJEBEBMPTÃSCPMFTQBSBFYBNJOBSMBTBTPDJBDJPOFT
NJDPSSÎ[JDBT
-PT DBSQÓGPSPT EF MPT NBDSPNJDFUPT TVSHFO FO VO ÃSFB QPUFODJBMNFOUF FYUFOTB Z
QPS FTUB SB[ÓO TF SFDPNJFOEB QBSB MB SFDPMFDDJÓO EF EBUPT TPCSF FM SFOEJNJFOUP FM
VTPEFQBSDFMBTMBSHBTZFTUSFDIBTDPNPQSFDFEFOUFNFOUFEFUFSNJOBEP&TUPUBNCJÊO
NJOJNJ[B FM EBÒP DBVTBEP QPS FM QJTPUFP EFM QFSTPOBM EF DBNQP -B GSFDVFODJB EF
PCTFSWBDJPOFT EFQFOEF EF DVBOEP BQBSFDF VOB FTQFDJF QBSUJDVMBS -PT SFDPMFDUPSFT
MPDBMFTIBOQSPCBEPVOBGVFOUFEFJOGPSNBDJÓOÙUJMFO.BMBXJ
4FOFDFTJUBONÃTZNFKPSFTEBUPTTPCSFFMSFOEJNJFOUPZMBQSPEVDUJWJEBEQBSBBZVEBS
BEFTBSSPMMBSQMBOFTEFHFTUJÓO6MUFSJPSFTDPOTFKPTTPCSFMPTNÊUPEPTEFFWBMVBDJÓOEF
MBQSPEVDDJÓOEFMPT1'/.IBOTJEPQVCMJDBEPTQPSMB'"0B
-PT TPOEFPT EF NFSDBEP QSPQPSDJPOBO VOB HVÎB EF MB QSPEVDUJWJEBE FO HFOFSBM Z
TPONÊUPEPTNÃTGÃDJMFTEFFGFDUVBSZNFOPTDPTUPTPTQBSBSFDPHFSEBUPTTJFNQSFRVF
DBOUJEBEFTJNQPSUBOUFTTFBOWFOEJEBTBMQÙCMJDP
1-"/*'*$"$*»/13«$5*$")"$*"6/"130%6$$*»/4045&/*#-&
&MPCKFUJWPGJOBMEFMBPSEFOBDJÓOEF)4$FTBMDBO[BSVOBQSPEVDDJÓOTPTUFOJCMF-B
JNQPSUBODJBEFEBUPTEFCVFOBDBMJEBEIBTJEPFOGBUJ[BEBZTFIBQVFTUPBUFODJÓOFOMPT
BSHVNFOUPTHFOFSBMFTEFMNBOFKPGPSFTUBMZEFMPTVTVBSJPTEFCPTRVFT%FTDSJCJSFNPT
MPT QSJNFSPT QBTPT QBSB MB GPSNVMBDJÓO EF VO QMBO EF HFTUJÓO BOBMJ[BOEP TVT
DBSBDUFSÎTUJDBTQBSBDBEBTJTUFNBEFQSPEVDDJÓO&M$VBESPTVHJFSFMBBEPQDJÓOEF
VOFOGPRVFHFOFSBMDPOMBTQSFHVOUBTGVOEBNFOUBMFTFODVFTUJÓO
'JOMBOEJB FT VO FKFNQMP SBSP EF QBÎT RVF IB JOUFOUBEP BDUJWBNFOUF MB HFTUJÓO EF
TVT SFDVSTPT NJDÓUJDPT TJMWFTUSFT DPNFTUJCMFT &TUF QBÎT IB TPTUFOJEP BDUJWBNFOUF MB
QSPEVDDJÓOEF)4$KVOUPBMBTCBZBTTJMWFTUSFT
EFTEFMBTFHVOEBHVFSSBNVOEJBMZTVT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
1SFQBSBDJØOEFMBTEJSFDUSJDFTQBSBMBHFTUJØOEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFT
."5&3*"
13&(6/5"416/504$-"7&
-PTQSPQJFUBSJPTEFCPTRVFT
{1ÞCMJDPPQSJWBEP {(FTUJØODPOUSPMBEBQPSFM&TUBEP3FHJØOPHFTUJØODPOKVOUB
DPOMBQPCMBDJØOSVSBM "MJHVBMRVFFMOÞNFSPEFQBSUFTJOUFSFTBEBTDSFDFUBNCJÏO
FMOÞNFSPEFUBSFBTQBSBEFGJOJSRVJÏOUJFOFEFSFDIPTBMVTPZEFRVÏGPSNBFTUPT
EFSFDIPTTPOBENJOJTUSBEPTZTFWVFMWFONÈTDPNQMFKPT-PTQSPQJFUBSJPTQSJWBEPT
QVFEFOOPUFOFSDPHOJDJØOEFMWBMPSEFMPT)4$MPRVFEFCFSÓBTFSFYQMJDBEP
EFUBMMBEBNFOUFEFUBMGPSNBRVFTFUFOHBOFYQFDUBUJWBTSFBMFTTPCSFFMSFOEJNJFOUP
GJOBODJFSPEFMBTPQFSBDJPOFTDPNFSDJBMFTDPNQFUFOUFT
-BJNQPSUBODJBSFMBUJWBEFMPT
IPOHPTTJMWFTUSFTDPNFTUJCMFT
{$PNFSDJBMPQFSTPOBM 1SJNFSPIBZRVFDBMDVMBSFMWBMPSEFMBTFTQFDJFTEF)4$Z
EFTQVÏTIBZRVFDPNQBSBSFTUPTWBMPSFTDPOFMEFMPTEFNÈTQSPEVDUPTZTFSWJDJPT
GPSFTUBMFT&TUPOPTEBVOSFTVNFOEFUPEBTMBTFTQFDJFTTJMWFTUSFTDPNFTUJCMFTKVOUBT
QBSBVOBFWBMVBDJØOHFOFSBMZQBSBEFTQVÏTBOBMJ[BSNBTDVJEBEPTBNFOUFFMWBMPS
EFMPTEJGFSFOUFTUJQPTRVFQVFEFODBNCJBSTFOTJCMFNFOUF
-BTSFDPMFDDJPOFTQBSB
VTPQFSTPOBMJODMVZFOMPTVTPTQBSBMBTVCTJTUFODJBZQBSBFMUJFNQPMJCSFNJDØMPHPT
BGJDJPOBEPTCJØMPHPTEFDBNQPFUD
%BUPTPCKFUJWPTZGJEFEJHOPTTPCSFMBQSPEVDDJØOZDBOUJEBEFTSFDPMFDUBEBTTPO
FTFODJBMFTQBSBVOBQMBOJGJDBDJØOFGFDUJWB4JFTUPTEBUPTOPFYJTUFOPTPOQPDP
VOJGPSNFTDPOTVMUFBMPTSFDPMFDUPSFTQBSBFWBMVBSMPTNPEFMPTEFVTPQSFWJPZ
DPOTJEFSFVOJOWFOUBSJPCBTBEPFOVOTJTUFNBEFiQBSDFMBTUJQPw
-PTSFDPMFDUPSFTZTVTQSÈDUJDBT
1FSGJMEFMBTQFSTPOBTZEFMPTNÏUPEPTEFSFDPMFDDJØO{2VJÏOFTTPOMPTSFDPMFDUPSFT {4POUSBCBKBEPSFTMPDBMFTPWJFOFOEFPUSPTMVHBSFT )BZRVFFYBNJOBSMBTQSÈDUJDBT
EFDVMUJWBDJØOZFWBMVBSTVJNQBDUPTPCSFMPTSFDVSTPTNJDPMØHJDPTTJMWFTUSFTMPT
CPTRVFTZMPTÈSCPMFT4FSFWJTBSÈTJFTOFDFTBSJPDBNCJBSFTUBTQSÈDUJDBTZTFCVTDBSÈMB
GPSNBEFFTUJNVMBSBMPTSFDPMFDUPSFTQBSBRVFVTFOMPTNÏUPEPTNFOPTEFTUSVDUJWPT
"OBMJ[BSDVJEBEPTBNFOUFMPTEFNÈTBTQFDUPTEFMPTTJTUFNBTEFWJEBZEFTBSSPMMPEFMPT
SFDPMFDUPSFTEFUBMGPSNBRVFMPT)$4QVFEBOTFSJOTFSUBEPTFODPOUFYUPTNVDIPNÈT
BNQMJPT
-BTMFZFTZOPSNBT
1FSNJTPTQBSBMBSFDPMFDDJØOZFMEFSFDIPEFBDDFTP{$ØNPIBOTJEPSFHMBNFOUBEBT
MBTSFDPMFDDJPOFTEF)4$ZDØNPBQPZBOMBTMFZFTBDUVBMFTTVVTPTPTUFOJCMF &M
QSJODJQJPGVOEBNFOUBMFTVOBDDFTPKVTUPZFRVJUBUJWPBMPTSFDVSTPTGPSFTUBMFTRVF
NBOUFOHBVOFRVJMJCSJPFOUSFFMVTPEFMPT)4$ZEFNÈTVTPTGPSFTUBMFT&YBNJOBS
MBTMFZFTFOWJHPSQBSBWFSEPOEFTFQVFEFOSFGPS[BSZHBSBOUJ[BSRVFSFGMFKFOMBT
OFDFTJEBEFTBDUVBMFTEFMPTVTVBSJPT&MFKFDFOUSBMFTFMQSBHNBUJTNPMFZFTRVF
GVODJPOFO
1SPEVDDJØOZWBMPSGJOBODJFSP
7PMVNFOZWBMPS&WBMVBSFTUFBTQFDUPBFTDBMBOBDJPOBMZBRVFMPTEBUPTTFSÈO
VUJMJ[BEPTQBSBMMFWBSBDBCPQPMÓUJDBTHVCFSOBNFOUBMFT-PTEBUPTDBSFOUFTMMFWBO
BQPMÓUJDBTDBSFOUFTZMBPSEFOBDJØOEFMPT)4$IBTJEPEJGJDVMUBEBQPSQBSUFEF
QFSDFQDJPOFTZDPOPDJNJFOUPTFSSØOFPTEFMBTQSÈDUJDBTEFSFDPMFDDJØOZEFTV
JNQPSUBODJBQSJODJQBMNFOUFQBSBMBTDPNVOJEBEFTSVSBMFT
FYQFSJFODJBTBNQMJBNFOUFQVCMJDBEBTTVNJOJTUSBOQVOUPTEFSFGMFYJÓOÙUJMFTQBSBPUSPT
QBÎTFT .ÊYJDP UBNCJÊO IB EFNPTUSBEP VO JOUFSÊT DPOUJOVP FO MB PSEFOBDJÓO EF MPT
)4$-PTJOWFTUJHBEPSFTZMPTHPCJFSOPTMPDBMFTZSFHJPOBMFTIBOFGFDUVBEPFTGVFS[PT
DPOKVOUPTQBSBDPNQSFOEFSMBJNQPSUBODJBEFMPT)4$ZEFTVPSEFOBDJÓOFOQSPEFM
CFOFGJDJPEFMBQPCMBDJÓOZEFMNFEJPBNCJFOUF
.VDIB EF MB JOGPSNBDJÓO SFRVFSJEB QBSB FNQF[BS FM QSPDFTP EF QMBOFBNJFOUP EF
MB PSEFOBDJÓO FT ZB EJTQPOJCMF FO QBÎTFT UBMFT DPNP $IJOB .BP Z 5VSRVÎB
QFK(VSFSDPNVOJDBDJÓOQFSTPOBM6OQVCMJTIFEEBUBPOXJMEFEJCMFGVOHJGPS
5VSLFZ
-BFY6OJÓO4PWJÊUJDBEFEJDÓNVDIPTFTGVFS[PTBMBJOWFTUJHBDJÓOTPCSFMPT
)4$1BBM
BVORVFUBMWF[NÃTEFTEFFMQVOUPEFWJTUBEFMPTIPOHPTRVFEFTEF
FMEFTVTBTQFDUPTTPDJBMFTZFDPOÓNJDPTSFMBDJPOBEPT&TUBFTVOBEFCJMJEBEHFOFSBM
FONVDIPTQBÎTFTZFTVOÃSFBEPOEFTFOFDFTJUBOFTGVFS[PTQBSUJDVMBSFTQBSBNFKPSBS
MPTDPOPDJNJFOUPT
6OBDDFTPKVTUPZFRVJUBUJWPBMPTCPTRVFTZBMPTSFDVSTPTGPSFTUBMFTFTVOBTQFDUP
DSÎUJDP4JMBTHFOUFTDSFFORVFTPOJOKVTUBNFOUFFYDMVJEPTQVFEFODPOUJOVBSBSFDPMFDUBS
TJOSFTQFUBSMBTMFZFTPQBHBSJNQVFTUPTPQFSNJTPT-PTJUBMJBOPTHFOFSBMNFOUFFWJUBO
FM QBHP EF JNQVFTUPT QPS MB SFDPMFDDJÓO EF #PMFUVT FEVMJT Z EF USVGBT )BMM FU BM
C
-BTFYDMVTJPOFTQVFEFOUBNCJÊODPOWFSUJSTFFOSFTFOUJNJFOUPFOFMOPSPFTUF
EF &TQBÒB FO VO TJUJP EF USVGBT GVF EFTUSVJEP ÃTQFSBNFOUF EVSBOUF MB OPDIF
Z iTBRVFBEPu ZB RVF VO BOUFSJPS SFTJEFOUF EF VO ÃSFB OP IBCÎB QPEJEP PCUFOFS VO
QFSNJTP QBSB SFDPMFDUBS FO TV QPCMBEP EF 3PNÃO DPNVOJDBDJÓO QFSTPOBM
5SBEFJOOÎTDBMPTGSPN/PSUI4QBJOUP$BUBMPOJBBOEUSVGGMFQSPEVDUJPO
0SEFOBDJÓOMPT IPOHPTTJMWFTUSFTDPNFTUJCMFTMPTÃSCPMFTZMPTVTVBSJPTEFCPTRVFT
3&$6"%30
*OWFOUBSJPQSÃDUJDPFYQFSJFODJBTEFTEF.BMBXJ
6O BNQMJP SFTVNFO EF MPT FTUVEJPT TPCSF MPT JOWFOUBSJPT EF MPT 1'/. SFWFMÓ MB FOPSNF DBSFODJB
EFDBMJEBEFOMPTEBUPTRVFBNFOVEPFNFSHFOEVSBOUFMBDPODMVTJÓOEFFTUPTBOÃMJTJTZTVCSBZÓMB
FTDBTF[ HFOFSBM EF JOGPSNBDJÓO TPCSF MB QSPEVDUJWJEBE '"0 B
&TUF FT VO BTVOUP DSÎUJDP QBSB
RVFMPTTJMWJDVMUPSFTFOUJFOEBOFMJNQBDUPEFMBTQSÃDUJDBTEFSFDPMFDDJÓOTPCSFMPT)4$ZSFTPMWFSMBT
FYJHFODJBTDPNQFUJUJWBTEFJOUFSFTFTDPNFSDJBMFTZEFPUSPTUJQPTRVFUJFOFOVOBEFTDPOGJBO[BJOTUJOUJWB
FOMPTSFDPMFDUPSFTRVFHFOFSBMNFOUFJODMVZFOBMPTTJMWJDVMUPSFTNJTNPT
&O .BMBXJ GVFSPO DPOUSBUBEPT VOPT FODVFTUBEPSFT QBSB RVF SFDPHJFSBO EBUPT EF DVBUSP TJUJPT
QSJODJQBMFT&ODPOUSBSPOQPDPTQSPCMFNBTSFMFWBOUFTBQBSUFEFMBGBMUBEFEBUPTFOVOTJUJPTJUVBDJÓO
RVF GVF SFTVFMUB FM BÒP TJHVJFOUF DVBOEP VOB 0/( MPDBM CSJOEÓ TV BZVEB 'VF OFDFTBSJB BM NFOPT
VOBUFNQPSBEBQBSBRVFMBTQBSUFTJOUFSFTBEBTTFGBNJMJBSJ[BSBODPOMPTQSPUPDPMPTZMBTUÊDOJDBT-BT
MMVWJBTGVFSPOFTDBTBTFOFMTFHVOEPZUFSDFSBÒPZMBQSPEVDUJWJEBEQPSDPOTJHVJFOUFCBKB6OCVFO
DPOPDJNJFOUPEFMPTOPNCSFTDJFOUÎGJDPTZWVMHBSFTEFMPT)4$GVFFMNBZPSCFOFGJDJPRVFSFTVMUÓEF
MBJOUFSQSFUBDJÓOEFMPTEBUPT
-PT DPTUPT EF WJBKF IBDJB MPT DVBUSP TJUJPT GVFSPO BMUPT FM DPNCVTUJCMF FT DBSP FO .BMBXJ Z MPT
QSFTVQVFTUPTUFOESÎBORVFTFSDBMDVMBEPTBOUFTEFEFUFSNJOBSMBVCJDBDJÓOEFMPTUFSSFOPT1PESÎBIBCFS
QPDB WFOUBKB FO WJBKBS UBO MFKPT B NFOPT RVF FTPT TJUJPT GVFSBO DPOTJEFSBCMFNFOUF EJGFSFOUFT EF MPT
DFSDBOPT"MQSJODJQJPGVFDSFBEPVOTJTUFNBEFFOUSBEBEFEBUPTDPNQVUBSJ[BEPRVFGVFEFJOFTUJNBCMF
WBMPSBMQSPDFTBSMPTEBUPTTPCSFFMSFOEJNJFOUPRVFJCBOTJFOEPJOTFSUBEPTDPOSBQJEF[ZQSFDJTJÓO
&O QPDP UJFNQP OPT EÃCBNPT DVFOUB TJ IBCÎBO TJEP JOUSPEVDJEPT EBUPT FRVJWPDBEPT ZP TJ FYJTUÎBO
MBHVOBTJOFYQMJDBCMFT-PTTVQFSWJTPSFTVTBSPOFTUBJOGPSNBDJÓOQBSBTVHFSJSNFKPSBTBMBTGPSNBTEF
SFDPQJMBDJÓOEFEBUPTZQSFTFOUBDJÓOEFMPTSFTVMUBEPTQPSQBSUFEFMPTFODVFTUBEPSFT
-PT BOÃMJTJT EF MPT EBUPT Z MB FOVODJBDJÓO EF MBT DPODMVTJPOFT GVFSPO NÃT EJGÎDJM EF BMDBO[BS FO
QBSUF QPSRVF MPT PQFSBEPSFT JOWPMVDSBEPT USBCBKBCBO CBTUBOUF MFKPT Z MB SFDPMFDDJÓO EF EBUPT GVF
DPOUJOVBIBTUBMBGBTFGJOBMEFMQSPZFDUP)VCJFSBTJEPNFKPSCBTÃOEPOPTFOFTUBFYQFSJFODJBBHJMJ[BS
MBSFDPQJMBDJÓOEFEBUPTZQSPQPOFSVOQFSÎPEPEFUJFNQPNÃTHSBOEFTFJTNFTFTQPSFKFNQMP
QBSB
MPTSFTQFDUJWPTBOÃMJTJT
4F QVEP IBCFS IFDIP NÃT QBSB QSPQPSDJPOBS DPOTFKPT QSÃDUJDPT TPCSF DPNP MMFWBS B DBCP MPT
JOWFOUBSJPTTPCSFMPT)4$)BZVOBHSBODBOUJEBEEFJOGPSNBDJÓOÙUJMEJTQPOJCMFTPCSFMPT1'/.
'"0B
QFSPIFNPTQSPEVDJEPVOBHVÎBQSÃDUJDBBVORVFOPGÃDJMRVFQPESÎBFTUJNVMBSBPUSBT
QFSTPOBTBFWBMVBSMBQSPEVDUJWJEBEZBQSFOEFSDPNPSFBMJ[BSBOÃMJTJTTFODJMMPTEFEBUPT
&M DÓEJHP FTDPDÊT QBSB MPT IPOHPT TJMWFTUSFT QSPQPSDJPOB MBT TJHVJFOUFT MÎOFBT
EJSFDUSJDFTBMPTSFDPMFDUPSFTEFFTQFDJFTDPNFTUJCMFTZOP
x 4ÓMPSFDPMFDUFMBDBOUJEBERVFWBZBBDPOTVNJSMBWJEBTJMWFTUSFOFDFTJUBUBNCJÊO
EFMPTIPOHPT
x /PSFDPMFDUFIBTUBRVFMPTTPNCSFSPTTFIBZBOBCJFSUPZEFKFFOTVTJUJPMPTRVF
ZBTFIBOQBTBEP
x 5FOHBDVJEBEPEFOPEBÒBSMBQBSUFQSJODJQBMEFMBTTFUBTCBKPMBTVQFSGJDJFZOP
EBÒFTVTBMSFEFEPSFT
x %JTQFSTFMBTQBSUFTSFDPSUBEBTFOMBNJTNBÃSFBEPOEFOBDFOMPTIPOHPT
x 3FDPMFDUFTÓMPMBTFTQFDJFTRVFDPOPDFZMMFWFTJFNQSFDPOTJHPTVHVÎBEFDBNQP
QBSBJEFOUJGJDBSMBTTFUBTEPOEFMBTFODVFOUSBBMHVOPTIPOHPTTPOWFOFOPTPTZMPT
RVFTPOSBSPTOPEFCFSÎBOTFSSFDPMFDUBEPT
x 1PSGBWPSSFTQFUFMBTDPOEJDJPOFTFTQFDJBMFTRVFQPESÎBOTFSBQMJDBEBTBMBTSFTFSWBT
OBUVSBMFT
%JTQPOJCMFFOXXXSCHFPSHVLSFTFBSDIDFMUJDBGVOHJTVTUBJOBCJMJUZIUN
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
-PTDÓEJHPTEFQSÃDUJDBTTPONVZÙUJMFTQFSPUJFOFORVFTFSSFBMJTUBTTJTFRVJFSFRVF
TFBOBEPQUBEPT
-BQÊSEJEBEFMPTCPTRVFTBVUÓDUPOPTSFEVDFMBQSPEVDDJÓOQPUFODJBMEF)4$-B
TJFNCSBEFOVFWBTFTQFDJFTBSCÓSFBTFYÓUJDBTBCSFOVFWBTQPTJCJMJEBEFTBMHVOBTEFMBT
DVBMFTZBIBOTJEPFYQMPUBEBT-PT #PMFUVTFEVMJTIBOTJEPJOUSPEVDJEPTFO4VEÃGSJDB
Z TF IB FTUBCMFDJEP VO QFRVFÒP NFSDBEP EF FYQPSUBDJÓO 1PUU DPNVOJDBDJÓO
QFSTPOBM&YQPSUPG#PMFUVTFEVMJTGSPN4PVUI"GSJDB
QVFTFTBFTQFDJFEFIPOHPTOPTF
DPNFFOFTUFQBÎT6OBFTQFDJFEFFVDBMJQUPEF"VTUSBMJBQMBOUBEBFO.BEBHBTDBSIB
GPSNBEP BTPDJBDJPOFT NJDPSSÎ[JDBT DPO VOB 3VTTVMB DPNFTUJCMF iBVUÓDUPOBu #VZDL
*OUFSBDDJPOFTBOÃMPHBTRVFJODMVZFOPUSBTFTQFDJFTEF)4$IBOTJEPPCTFSWBEBT
BMPFTUFEFMDPOUJOFOUFBGSJDBOP%VDPVTTP#BZ5IPFO
-B QMBOUBDJÓO EF FTQFDJFT BSCÓSFBT FYÓUJDBT QPS MP UBOUP OP OFDFTBSJBNFOUF
FNQPCSFDF MB NJDPUB MPDBM 3ZWBSEFO 1JFSDF Z .BTVLB Z QVFEF JODSFNFOUBS
TJHOJGJDBUJWBNFOUFPQPSUVOJEBEFTQBSBMBSFDPMFDDJÓOEF)4$DPNPIBTVDFEJEPDPO
MBTJFNCSBEFM1JOVTOJHSBFOFMOPSPFTUFEF&TQBÒBZMPTNFSDBEPTDPNFSDJBMFTQBSB
MPT-BDUBSJVTEFMJDJPTVTRVFTFIBOEFTBSSPMMBEPFOMPTÙMUJNPTUSFJOUBBÒPTEF3PNÃO
DPNVOJDBDJÓO QFSTPOBM 5SBEF JO OÎTDBMPT GSPN /PSUI 4QBJO UP $BUBMPOJB BOE
USVGGMF QSPEVDUJPO
/VFWB ;FMBOEB IB BQSPWFDIBEP MB PQPSUVOJEBE EF JOUSPEVDJS
IPOHPT NJDPSSÎ[JDPT DPNFTUJCMFT Z MB GBMUB EF FTQFDJFT DPNQFUJUJWBT BVUÓDUPOBT EF
IPOHPTFTWJTUBDPNPVOBPQPSUVOJEBEQPTJUJWBRVFBQPZBMBDPNFSDJBMJ[BDJÓO)BMMZ
8BOH
*-6453"$*»/
-"3&$0-&$$*»/%&536'"4&/*5"-*"
-BSFDPMFDDJÓOZMBDVMUJWBDJÓOEFMBTUSVGBTTQ5VCFS
FTEFJNQPSUBODJBDPNFSDJBM-BTUSVGBTGPUPHSBàBEBTTPOEF
MB6SCJOPFOMBSFHJÓOEFMBT.BSDBT*UBMJB
ZQFSUFOFDFOBMHÊOFSP5VCFSBFTUJWVNBNFOPTRVFTFBFTQFDJàDBEP
EJWFSTBNFOUF5PEBTMBTGPUPTTPOEF&SJD#PB
-VOBFODVFOUSBMBTUSVGBTZQJEF
TVSFDPNQFOTB4FQSFGJFSFMPTQFSSPT
DB[BEPSFTEFUSVGBTBMBTDFSEBTQPSRVF
DBVTBONFOPTEBÒPTZTFDPOUSPMBONFKPS
1JFSMVJHJNVFTUSBMBTUSVGBTMVFHP
EFIBCFSMBTFYUSBÎEPEFMUFSSFOPDPOTV
IFSSBNJFOUBRVFUJFOFVOBIPKBDVSWBFO
MBQBSUFJOGFSJPS
&MDMBSPFTVOBUBSUVGBJBiIVFSUPu
EFUSVGBTFOJUBMJBOP
PUSVGGJÍSFFO
GSBODÊT
-PTÃSCPMFTTPOJOGFDUBEPT
BSUJGJDJBMNFOUFDPOFTUFIPOHP
$PSSFDDJÓOEFMPTFYÃNFOFT
5VCFSBFTUJWVNDPSUBEPQBSB
FGFDUVBEPTQPSMPTSFDPMFDUPSFTEFUSVGBT NPTUSBSTVDBSOFDBSBDUFSÎTUJDB
FO#PMPOJBQBSBBWFSJHVBSTJTBCFOEÓOEF
ZDÓNPSFDPMFDUBS
-BWFHFUBDJÓOTVQSJNJEBCSÚMÊF
SFWFMBMBQSFTFODJBEF5VCFSBFTUJWVN
5VCFSFYDBWBUVNEFQPDPWBMPS/P
UPEBTMBTUSVGBTUJFOFOQSFDJPTJHVBMFT
1SFTFOUFFOMPTNJTNPTTJUJPTRVFMBT5
BFTUJWVN
5VCFSNBHOBUVNFOWFOUBDPNPVO
BMJNFOUPFYDMVTJWPDVFTUBVOPT
&&66BMUBSSP
"MHVOPTSFDPMFDUPSFTEFUSVGBTTF
MFWBOUBOBMBMCBZFOUSFOBOBTVTQSPQJPT
QFSSPT&MWJTJPUBNCJÊOWFOEFBPUSPT
SFDPMFDUPSFT
*-6453"$*»/
&-$0.&3$*0%&#0-&564&%6-*4
&TUPTIPOHPTTJMWFTUSFTBQFUFDJCMFTZNVZEFNBOEBEPTDSFDFOFOUPEPFMNVOEPBVORVFOPTFDPOTVNFOFOBMHVOPT
QBÎTFTQPSFKFNQMP.BMBXJ&MDPNFSDJPFTUÃEPNJOBEPQPSMPTJUBMJBOPTUBOUPFOTVQBÎTGÃCSJDBT
DPNPFOFM
SFTUPEFMNVOEPDPNPDPNFSDJBOUFT
4FFYQPSUBOHSBOEFTDBOUJEBEFTEFTEF$IJOB&VSPQBEFMFTUFZ4VEÃGSJDB
$POPDJEPTFO*UBMJBDPNPQPSDJOJTFTFDBOQBSBTFSWFOEJEPTBWFDFTFONF[DMBTDPOPUSBTFTQFDJFTEF#PMFUVTZ
PUSBTTFUBTDVMUJWBEBT5PEBTMBTGPUPHSBGÎBTTPOEF#PSHP7BMEF5PSP1BSNB*UBMJB
ZGVFSPOUPNBEBTQPS&SJD#PB
BNFOPTRVFTFFTQFDJGJRVFEJWFSTBNFOUF
#FEVMJTQSPEVDJEPTFOBCVOEBODJB
1SFQBSBDJÓOEFQPSDJOJGSFTDPTQBSB
BVORVFOPTPODPOTVNJEPTPSFDPMFDUBEPT TFSDPDJOBEPTZQBSBDPOTFSWBTBOUFTEF
1MBOUBDJPOFTEFQJOPNFTFUBEF;PNCB TFSWFOEJEPT
.BMBXJ
1PSDJOJDPDJOBEPTZMJTUPTQBSBTFS
FOWBTBEPT
1SFQBSBDJÓOEFFOWBTFTEFQPSDJOJZ
PUSPTIPOHPT
6OHSVQPEFQSPEVDUPTNJDÓUJDPT
JODMVZFOEPFTQFDJFT$BOUIBSFMMVTZ
6TUJMBHPT
1PSDJOJTFDPTZFODPOTFSWBEFWFOUB
4FOFDFTJUBVOQFSNJTPFTQFDJBMQBSB
SFDPMFDUBSIPOHPTFOFTUBSFHJÓO-PT
SFTJEFOUFTZQSPQJFUBSJPTQBHBONFOPT
RVFMBTQFSTPOBTEFBGVFSB
1PSDJOJTFDPTEFWBSJPTQBÎTFT
DVJEBEPTBNFOUFDMBTJGJDBEPT
1PSDJOJZPUSPTIPOHPTFODPOTFSWB
JNQPSUBEPTEFMFYUSBOKFSP
0USBTFTQFDJFTEF#PMFUVTBWFDFT
1IPMJPUBNBNFLPEF$IJOB
TPONF[DMBEBTDPOPUSPTQPSDJOJQBSBTFS UBNCJÊOWFOEJEPKVOUPBMPTQPSDJOJ
WFOEJEPT
&TQFDJFKÓWFOFTEFQPSDJOJFO
TBMNVFSB
*NQPSUBODJBQBSBMBQPCMBDJØO
BMJNFOUPTCFOFGJDJPTFDPOØNJDPTDPNFSDJP
-04)0/(044*-7&453&4$0.&45*#-&4:-04.&%*04%&7*%"
&TUF DBQÎUVMP BOBMJ[B MBT GPSNBT FO MBT DVBMFT MPT )4$ TPO JNQPSUBOUFT QBSB MBT
QPCMBDJPOFTQSJODJQBMNFOUFQBSBMBTEFMPTQBÎTFTFOEFTBSSPMMPZUSBUBEFBTPDJBSFTUB
JOGPSNBDJÓO DPO TVT FTUJMPT EF WJEB &M BQPZP BM EFTBSSPMMP FTUÃ BEPQUBOEP OVFWPT
FOGPRVFT QBSB BZVEBS B MB HFOUF QPCSF EF MPT QBÎTFT FO EFTBSSPMMP -PT FOGPRVFT
QSBHNÃUJDPT Z QSÃDUJDPT TPCSF MB SFEVDDJÓO EF MB QPCSF[B FTUÃO CVTDBOEP NFKPSBT
QSFGFSJCMFNFOUF FO MP JONFEJBUP -PT )4$ UJFOFO ZB VO QBQFM JNQPSUBOUF FO MB WJEB
EFNVDIBTHFOUFTZTFQVFEFOMPHSBSNVDIPTCFOFGJDJPTNÃT&MDPOPDJNJFOUPNJTNP
EFMPTIPOHPTFTJNQPSUBOUFQFSPQPSTÎNJTNPOPQSPEVDFOJOHÙOUJQPEFDBNCJP
B NFOPT RVF TF FYBNJOFO EFUBMMBEBNFOUF MBT EFDJTJPOFT Z PQDJPOFT EFGJOJEBT QPS MPT
NFEJPTEFWJEB3FDVBESP
-PT )4$ QSPQPSDJPOBO EPT CFOFGJDJPT GVOEBNFOUBMFT QBSB MB QPCMBDJÓO TPO
GVFOUFT EF BMJNFOUP Z EF CFOFGJDJPT FDPOÓNJDPT 6O TFJT QPS DJFOUP EF MBT FTQFDJFT
DPNFTUJCMFTUJFOFQSPQJFEBEFTNFEJDJOBMFTUBNCJÊOQSÓYJNBTFDDJÓO$VBESP
&TUB
DPOUSJCVDJÓOBMCJFOFTUBSIVNBOPFTEJGÎDJMEFWBMPSJ[BSZIBSFDJCJEPQPDBBUFODJÓO
-BTQSPQJFEBEFTNFEJDJOBMFTEFMPTIPOHPTNJDPSSÎ[JDPTOPIBOTJEPCJFOJOWFTUJHBEBT
3FTIFUOJLPW8BTTFSZ5BO
(FOFSBMNFOUF TF UJFOF QPDB DPODJFODJB EF MPT )4$ Z EF TV JNQPSUBODJB QBSB MB
QPCMBDJÓO -PT VTPT QBSB FM TVTUFOUP FO MPT QBÎTFT FO EFTBSSPMMP IBO TJEP JHOPSBEPT
DPOGSFDVFODJBZTÓMPFOMPTÙMUJNPTBÒPTMBTJOJDJBUJWBTTPCSFMPT1'/.IBOJOJDJBEP
BFYQMJDBSFMFOPSNFVTPZMBGVODJÓOEFMPTIPOHPTFOMPTNFEJPTEFWJEB)BIBCJEP
NVDIPJOUFSÊTEVSBOUFMPTÙMUJNPTBÒPTFOMBSFDPMFDDJÓODPNFSDJBMEFNBUTVUBLFTFOFM
1BDÎGJDPOPSPFTUFEF/PSUFBNÊSJDBJOUFSÊTSFTQBMEBEPQPSVOBMJUFSBUVSBDPOTJEFSBCMF
4JOFNCBSHPFMNBUTVUBLFZFMDPOUJOVPJOUFSÊTQPSMBTUSVGBTZQPSTVSFDPMFDDJÓO)BMM
;BNCPOFMMJ Z 1SJNBWFSB SFGMFKBO VO NPEFMP EF VTP DPNQMFUBNFOUF EJGFSFOUF
EPOEFMPT)4$TPODPOTJEFSBEPTDPNPVOBSUÎDVMPQBSBFMDPOTVNPiFYDMVTJWPu
.ÃTBMMÃEFMBTFWJEFODJBTQVCMJDJUBSJBTTPCSFMBTSFDPMFDDJÓODPNFSDJBMFTMBJOGPSNBDJÓO
QSPWFOJFOUFEFMPTQSPZFDUPTEFEFTBSSPMMPZEFMBTJOJDJBUJWBTOBDJPOBMFTQFK$IJOB
.ÊYJDP Z 5VSRVÎB
IB JEP FNFSHJFOEP QBVMBUJOBNFOUF -B SFDPMFDDJÓO DPNFSDJBM
CFOFGJDJBUBNCJÊOBMBQPCMBDJÓOSVSBMFONVDIPTPUSPTQBÎTFTQFSPMBDBOUJEBEEFEJOFSP
HBOBEPFTNFOPSRVFMPTCFOFGJDJPTPGSFDJEPTQPSMPTBNQMJPTVTPTEFMPTIPOHPTQBSB
MBTVCTJTUFODJB-PTCFOFGJDJPTGVOEBNFOUBMFTTPOPCUFOJEPTQPSMBTQPCMBDJPOFTEFMPT
QBÎTFTFOEFTBSSPMMPZFOQBSUJDVMBSQPSMBTDPNVOJEBEFTNÃTWVMOFSBCMFTRVFWJWFOFO
MBT[POBTSVSBMFTFTEFDJSQPSMPTiNÃTQPCSFTFOUSFMPTQPCSFTu
/P IBZ FTUBEÎTUJDBT NVOEJBMFT B EJTQPTJDJÓO Z MBT FWJEFODJBT RVF SFTQBMEBO
MPT JOGPSNFT TPCSF FTUPT BNQMJPT CFOFGJDJPT TF CBTBO FO QSJNFS MVHBS FO MPT
FTUVEJPT EF DBTP FYQMJDBEPT EFUBMMBEBNFOUF NÃT BEFMBOUF
Z FO TFHVOEP MVHBS
FO WFSTJPOFT NÃT P NFOPT BOFDEÓUJDBT &O FM QBTBEP IVCP QPDP JOUFSÊT QPS
7FBXXXMJWFMJIPPETPSHNÃTJOGPSNBDJPOFTZFYQMJDBDJPOFTEFMPRVFTFFOUJFOEFDPNPFOGPRVFEF
NFEJPTEFWJEBTPTUFOJCMFT&OFTUFDBQÎUVMPUBMDPODFQUPFTVUJMJ[BEPFOFMTFOUJEPNÃTBNQMJPEFMPT
NFEJPTBUSBWÊTEFMPTDVBMFTMBQPCMBDJÓOWJWF
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
3&$6"%30
-PTQSPZFDUPTEFEFTBSSPMMPZMPTIPOHPTTJMWFTUSFTDPNFTUJCMFT
4FDPNQBSBOEPTFOGPRVFTEJGFSFOUFTTPCSFMPT)4$FOFMQSJNFSQSPZFDUPIJQPUÊUJDPTFEFTDSJCFO
UPEBT MBT FTQFDJFT EF )4$ FO VOB SFHJÓO BOBMJ[BOEP TVT DBSBDUFSÎTUJDBT OVUSJDJPOBMFT 4F JOTFSUBO
UBNCJÊOMPTOPNCSFTWVMHBSFTZMBTPCTFSWBDJPOFTHFOFSBMFTTPCSFFMDPNFSDJPMPDBM
&OFMTFHVOEPQSPZFDUPMPTJOWFTUJHBEPSFTFWBMÙBOMBTGVFOUFTEFBMJNFOUPZEFCFOFGJDJPTFDPOÓNJDPT
QBSB MBT DPNVOJEBEFT MPDBMFT $PNQBSBO TV JNQPSUBODJB SFMBUJWB Z FYBNJOBO MBT PQPSUVOJEBEFT Z
EJGJDVMUBEFTFOFMNFKPSBNJFOUPEFMBOVUSJDJÓOZEFMPTJOHSFTPTFDPOÓNJDPTJODMVZFOEPMPTIPOHPT
DPNFTUJCMFT4FIBOBDPSEBEPZDPNQSPCBEPOVFWPTFTRVFNBTFJOJDJBUJWBT
"NCPTFOGPRVFTTPODPNQMFNFOUBSJPTBVORVFFMQSJNFSQSPZFDUPOPUJFOFFMPCKFUJWPEFDBNCJBS
MBT QSÃDUJDBT MPDBMFT &M TFHVOEP FO DBNCJP CVTDB DPNP NFKPSBS MB GPSNB EF WJEB EF MB HFOUF
CBTÃOEPTFFOMBJOGPSNBDJÓOEJTQPOJCMF4FQPESÎBOMPHSBSNÃTNFKPSBTTJTFDPOUBSBDPOJOGPSNBDJÓOZ
DPOPDJNJFOUPTUÊDOJDPTEFUBMGPSNBRVFMBTDPNVOJEBEFTMPDBMFTQVEJFSBOQMBOJGJDBSOVFWBTJOJDJBUJWBT
VTBOEPMPTOPNCSFTMPDBMFTEFMPT)4$PCVTDBOEPFGJDJFODJBTFOFMNFSDBEPMPDBMCBTÃOEPTFFOVO
FOUFOEJNJFOUPQSFDJTPEFMBTQSÃDUJDBTZPQPSUVOJEBEFTMPDBMFT
EPDVNFOUBS MB JOGPSNBDJÓO EFCJEP B MBT QPRVÎTJNBT PQPSUVOJEBEFT EF FTUVEJBS
MPT )4$ RVF UVWJFSPO MPT DJFOUÎGJDPT FO MPT QBÎTFT FO EFTBSSPMMP 5BNCJÊO IB
IBCJEP QSFEJTQPTJDJPOFT DVMUVSBMFT DPOUSB MPT )4$ Z QPTUVMBEPT HFOFSBMNFOUF
JOKVTUJGJDBEPT RVF MFT BTJHOBCBO NFOPS JNQPSUBODJB 1JFBSDF 8BTTPO Z
8BTTPO
-BTQVCMJDBDJPOFTNÃTSFDJFOUFTIBOIFDIPNVDIPQBSBFTUJNVMBS
VONBZPSJOUFSÊTZNÃTJOWFTUJHBDJPOFT$VBESP
-PTQSPZFDUPTGJOBODJBEPTDPOGPOEPTEFEPOBDJPOFTTPCSFMPT)4$FOMB3FQÙCMJDB
6OJEBEF5BO[BOÎB)ÅSLÕOFOFUBM
FO.BMBXJ#PBFUBM
ZFO#FOJO%F
,FTFMDPNVOJDBDJÓOQFSTPOBM8JMEFEJCMFGVOHJGSPN#FOJO
IBOBCBSDBEPEFTEF
VOQVOUPEFWJTUBNÃTBNQMJPMPTBTQFDUPTTPDJBMFTZFDPOÓNJDPTSFMBDJPOBEPTDPOMPT
)4$-PTQSPHSBNBTOBDJPOBMFTFO.ÊYJDPIBOQSPEVDJEPVODPOPDJNJFOUPTÓMJEPEF
MBTNVDIBTFTQFDJFTEF)4$DPOTVNJEBTFOUPEPFMQBÎT7JMMBSSFBMZ1ÊSF[.PSFOP
-BBUFODJÓOEFMPTJOWFTUJHBEPSFTTFFTUÃDPODFOUSBOEPFOMPTGBDUPSFTTPDJBMFTZ
FDPOÓNJDPTGPNFOUBEBQPSVOBQFSDFQDJÓONVDIPNÃTBNQMJBEFMBJNQPSUBODJBEFMPT
1'/.QBSBMBTFDPOPNÎBTSVSBMFTZQBSBMBQPCMBDJÓOFOHFOFSBM
-B JNQPSUBODJB EF MPT )4$ QBSB MB QPCMBDJÓO EF MPT QBÎTFT FO EFTBSSPMMP QVFEF
IBCFS QBTBEP EFTBQFSDJCJEB UBNCJÊO QPSRVF NVDIBT EF MBT SFDPMFDDJPOFT TPO QBSB
VTPQFSTPOBM:PSPVZ%F,FTFM
-BFYQFSJFODJBNJDPMÓHJDBMJNJUBEBFO¦GSJDB
EFMFTUFTFBEKVEJDBBMBDSFFODJBFSSÓOFBRVFFTVOiEFTJFSUPEFIPOHPTu%VDPVTTP
#B Z 5IPFO *OGPSNFT EF (IBOB 0CPEBJ Z "QFUPSHCPS Z EF 4JFSSB
-FPOB %PXO DPNVOJDBDJÓO QFSTPOBM 8JME FEJCMF GVOHJ GSPN 4JFSSB -FPOF
JOEJDBO RVF TV VTP MPDBM FT NVDIP NÃT JOUFOTP &M VTP SFHVMBS EF MPT )4$ FO MPT
CPTRVFT QMVWJBMFT USPQJDBMFT GVF SFWFMBEP DVBOEP TF SFBMJ[BSPO BOÃMJTJT EFUBMMBEPT
EF MBT QSÃDUJDBT MPDBMFT FO #SBTJM 1SBODF IPZ FO EÎB SFTQBMEBEBT QPS MB
FWJEFODJBEFTEF,BMJNBOUBO-FMVZBOJDPNVOJDBDJÓOQFSTPOBM&EJCMFGVOHJPG
,BMJNBOUBO
Z4BSBXBL$IJO+POFTDPNVOJDBDJÓOQFSTPOBM8JMEFEJCMF
GVOHJVTFJO4BSBXBL
-BJOGPSNBDJÓONJDPMÓHJDBFTQVCMJDBEBFOVOCVFOOÙNFSPEFMVHBSFTPEJTDJQMJOBT
EJGFSFOUFT $VBESP Z B WFDFT QSFTFOUBEB FO FTUVEJPT NÃT BNQMJPT TPCSF MBT
DPNVOJEBEFTQFK4IBDLMFUPOFUBM4VEÃGSJDB&SUSVH5VSRVÎB(VOBUJMMFLF
Z "CFZHVOBXBSEFOB 4SJ -BOLB
­TUPT Z NVDIPT PUSPT JOGPSNFT SFDPHJEPT FO
MB TFDDJÓO EF SFGFSFODJBT FOGBUJ[BO RVF MB DPOUSJCVDJÓO EF MPT )4$ B MB EJFUB Z B MPT
CFOFGJDJPTFDPOÓNJDPTEFMBQPCMBDJÓOSVSBMOPEFCFSÎBTFSTVCFTUJNBEB
*NQPSUBODJBQBSBMBQPCMBDJÓOBMJNFOUPTCFOFGJDJPTFDPOÓNJDPTDPNFSDJP
$6"%30
&TUVEJPTFUOPDJFOUÓGJDPTEFIPOHPTTJMWFTUSFTDPOQSPQJFEBEFTDPNFTUJCMFTZNFEJDJOBMFT
1"¶4
²/'"4*440#3&-04)0/(044*-7&453&4
"VTUSBMJB
&TQFDJFTÞUJMFTJODMVZFDPNFTUJCMFT
FOMBDVMUVSBBCPSJHFO
'6&/5&
,BMPUBT
#SBTJM
&TUVEJPEFMPTJOEJPT4BOBNBJODMVZFFTQFDJFTDPNFTUJCMF
'JEBMHPZ1SBODF
$BOBEÈ
6TPEFMBTQMBOUBTBVUØDUPOBTJODMVZFOEPMPTIPOHPTTJMWFTUSFT
NFEJDJOBMFTZDPNFTUJCMFT
.BSMFTFUBM
$IJOB
$PNQBSBDJØOFOUSF)VOBOZ$IJOBMBNBZPSQBSUFFTQFDJFT
DPNFTUJCMFT
)ÊSLÚOFO
'FEFSBDJØOEF3VTJB
.FEJDJOBQPQVMBS,IBOUZ
4BBS
'FEFSBDJØOEF3VTJB
MFKBOPPSJFOUF
)POHPTNFEJDJOBMFTFOMBOBUVSBMF[B
#VMBLI
(FOFSBM
)POHPTFOMBNFEJDJOBQPQVMBS
#JSLT
(FOFSBM
-PTPSÓHFOFTEFMBFUOPNJDPMPHÓBDPNPEJTDJQMJOBDJFOUÓGJDB
%BWJT
(FOFSBM.ÏYJDP
"OÏDEPUBTQFSTPOBMFTTPCSFFUOPNJDPMPHÓBNJUPTZDFSFNPOJBT
3JFEMJOHFS
(VBUFNBMB
'PMLMPSFDPODFSOJFOUFMBT"NBOJUBNVTDBSJBT
-PXZ
)JNBMBZBPSJFOUF
)POHPTDPNFTUJCMFTDPOQSPQJFEBEFTNFEJDJOBMFT
#PSVBIZ4JOHI
*OEJB
)POHPTFOMBNFEJDJOBQPQVMBS
7BJEZBZ3BCCB
*OEJBDFOUSBM
&UOPNJDPNFEJDJOBMFT
3BJ"ZBDIJZ3BJ
+BQØO
6TPTEFMPTIPOHPTZMÓRVFOFTQPS"JOV
:PLPZBNB
.BMBXJ
&TQFDJFTDPNFTUJCMFTNFEJDJOBMFTZVTBEBTQBSBQSPQØTJUPT
DFSFNPOJBMFT
.PSSJT
.ÏYJDP
)POHPTNFEJDJOBMFTUSBEJDJPOFTNJUPTZDPOPDJNJFOUPT
(V[NÈO
/FQBM
0CTFSWBDJPOFTHFOFSBMFTQSJODJQBMNFOUFFTQFDJFTDPNFTUJCMFT
"EIJLBSJZ%VSSJFV
/JHFSJB
1SÈDUJDBTNFEJDJOBMFTFOMBDVMUVSB:PSVCB
0TP
1BQVB/VFWB(VJOFB
1SJODJQBMNFOUFSFMBDJPOBEPTDPOMBTFTQFDJFTDPNFTUJCMFT
4JMMJUPF
1FSÞ
)POHPTQSJODJQBMNFOUFDPNFTUJCMFTQBSUFEFFTUVEJPT
FUOPCPUÈOJDPT
'SBORVFNPOUFUBM
1PMPOJB
.FEJDJOBQPQVMBSQPMBDB
(S[ZXOPXJD[
3FHJØOCBMDÈOJDB
&TQFDJFNFEJDJOBMFTUVEJPEFMPTFTMBWPTEFMFTUF
%JEVLI
3FQÞCMJDB6OJEBEF
5BO[BOÓB
$PNQBSBFMVTPEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTDPOMBT
DPTUVNCSFTFO)VOBOFO$IJOB
)ÊSLÚOFO
)ÊSLÚOFO/JFNFMÊZ
.XBTVNCJ
5VSRVÓB
)POHPTDPNFTUJCMFTQBSUFEFVOFTUVEJPFUOPCPUÈOJDP
&SUSVH
;BNCJB
$PTUVNCSFTZGPMLMPSFTPCSFWBSJPTIPOHPTDPNFTUJCMFT
1JFBSDF
/PUB7ÏBTFUBNCJÏOFOFM7PMVNFO
EFM*OUFSOBUJPOBM+PVSOBMPG.FEJDJOBM.VTISPPNTMPTSFTÞNFOFTEFVOBDPOGFSFODJB
TPCSFMPTIPOHPTNFEJDJOBMFTNVDIPTEFMPTDVBMFTUJFOFOJODMJOBDJPOFTFUOPDJFOUÓGJDBT
-BTTFDDJPOFTTJHVJFOUFTBOBMJ[BOEFUBMMBEBNFOUFMPTUJQPTEFCFOFGJDJPTPCUFOJEPT
QPS NFEJP EF MPT )4$ 4V DPOUSJCVDJÓO SFMBUJWB B MPT NFEJPT EF WJEB DBNCJB
QSPGVOEBNFOUF6OQMBUPEFIPOHPTFTVOBFYRVJTJUF[FO4VJ[BPFO&TUBEPT6OJEPT
QFSP FT VOB BMUFSOBUJWB DPOUSB FM IBNCSF FO .BMBXJ &M EJOFSP HBOBEP DPO MB WFOUB
EF MPT OÎTDBMPT -BDUBSJVT EFMJDJPTVT
TJHOJGJDB VO QFRVFÒP FTUÎNVMP GJOBODJFSP FO FM
OPSUF EF &TQBÒB EF 3PNÃO DPNVOJDBDJÓO QFSTPOBM 5SBEF JO OÎTDBMPT GSPN
/PSUI4QBJOUP$BUBMPOJBBOEUSVGGMFQSPEVDUJPO
NJFOUSBTHSBDJBTBMBSFDPMFDDJÓOEF
IPOHPTDPMNFOJMMBFO*OEJBMBQPCMBDJÓOQVFEFNBOEBSTVTOJÒPTBMBFTDVFMB4JOHIZ
3BXBU
-B JNQPSUBODJB EF MPT )4$ EFTEF VOB QFSTQFDUJWB EF EFTBSSPMMP TF PCTFSWB BM
DPNQBSBSMPT DPO PUSBT GVFOUFT EF BMJNFOUP Z EF CFOFGJDJPT FDPOÓNJDPT &YJTUFO
BMUFSOBUJWBT EFTEF MVFHP Z MBT QSPQVFTUBT QBSB JODSFNFOUBS FM VTP Z CFOFGJDJPT EF
MPT )4$ TFSÃO TJFNQSF DPNQBSBEBT DPO MBT PQDJPOFT EJTQPOJCMFT &M BMJDJFOUF QBSB
MBTBDUJWJEBEFTEFMDPNFSDJPUVSÎTUJDPFO)VOBO$IJOBFTVOBBMUFSOBUJWBJOUFSFTBOUF
QBSBTVCJSZCBKBSQPSMBTNPOUBÒBTTJOHBSBOUJ[BSRVFTFFODVFOUSFO)4$QBSBWFOEFS
)ÅSLÕOFO -B DPOUSBDDJÓO EF MBT PQPSUVOJEBEFT EF USBCBKP FO FM OFHPDJP EF
MB TJMWJDVMUVSB OP TJHOJGJDB RVF MB SFDPMFDDJÓO EF MPT )4$ TFB OFDFTBSJBNFOUF VOB
QSPQPTJDJÓO FDPOÓNJDB BUSBDUJWB JODMVTJWF QBSB MB HFOUF EFTFTQFSBEB QPS MB GBMUB EF
USBCBKP5FEEFS.JUDIFMMZ'BSSBO
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
$PNQPTJDJØOOVUSJUJWBEFBMHVOPTIPOHPTTJMWFTUSFTDPNFTUJCMFT
/0.#3&$*&/5¶'*$0
1"¶4
1305&¶/"4
$"3#0)*%3"504
(3"4"4
."5&3*"
.*/&3"-
'3&4/0
"NBOJUBDBFTBSFB
"NBOJUBMPPTJJ
'SBODJB{ E
3FQÞCMJDB%FNPDSÈUJDBEFM$POHP
E
E
E
"NBOJUBSVCFTDFOT
.ÏYJDP
E
E
E
#PMFUVTFEVMJT
5VSRVÓB
#PMFUVTFEVMJT
'JOMBOEJB
OT
#PMFUVTFSZUISPQVT
+PSEBOJB
#PMFUVTGSPTUJJ
.ÏYJDP
OT
OT
OT
#PMFUVTMPZP
$IJMF
$BOUIBSFMMVTDJCBSJVT
5VSRVÓB
$BOUIBSFMMVTDJCBSJVT
3FQÞCMJDB%FNPDSÈUJDBEFM$POHP
-BDUBSJVT
QIMFCPQIZMMVN
3FQÞCMJDB6OJEBEF5BO[BOÓB
-BDUBSJVTEFMJDJPTVT
'SBODJB{ OT
-BDUBSJVTEFMJDJPTVT
$IJMF
-BDUBSJVTJOEJHP
.ÏYJDP
OT
OT
OT
-BDUBSJVTUPSNJOPTVT
'JOMBOEJB
OT
-BDUBSJVTQJQFSBUVT
5VSRVÓB
3BNBSJBGMBWB
.ÏYJDP
OT
E
OT
3BNBSJBGMBWB
'JOMBOEJB
OT
3VTTVMBDZBOPYBOUIB
'SBODJB{ OT
3VTTVMBEFMJDB
*OEJB
OT
OT
OT
3VTTVMBTQ
3FQÞCMJDB%FNPDSÈUJDBEFM$POHP
4VJMMVTMVUFVT
$IJMF
4VJMMVTHSBOVMBUVT
$IJMF
5FSGF[JBDMBWFSZJ
*SBR
OT
5FSNJUPNZDFT
NJDSPDBSQVT
3FQÞCMJDB6OJEBEF5BO[BOÓB
5FSNJUPNZDFT
NJDSPDBSQVT
3FQÞCMJDB6OJEBEF5BO[BOÓB
5FSNJUPNZDFT
NJDSPDBSQVT
3FQÞCMJDB%FNPDSÈUJDBEFM$POHP
5SJDIPMPNB
QPQVMJOVN
$BOBEÈ
5SJDIPMPNB
TBQPOBDFVN
'SBODJB{ E
5JSNBOJBOJWFB
*SBR
E
OToOPTF×BMBEP-BTDJGSBTGVFSPOSFEPOEFBEBTBMOÞNFSPTVQFSJPSJONFEJBUPEEFTDPOPDJEP
'VFOUFT
,JHFSoTFTVQPOFRVFIBOTJEPQSPCBEPTFTQFDÓNFOFTEF'SBODJBQFSPOPGVFSPOTF×BMBEPT
%FHSFFGFUBM
-FØO(V[NÈO4JMWBZ-ØQF[
'"0C
&SFJGFKZ"M3BEEBE
$BHMBSJSNBL6OBMZ0UMFT
)ÊSLÚOFO4BBSJNÊLJZ.XBTVNCJB
,SFVMB4BBSJWJSUBZ,BSBOEP
1VSLBZBTUIBZ$IBOESB
1BSFOUZ
5IPFO
"M/BBNB&XB[FZ/FNB
4DINFEB)JSTDINBOOFUBMC
5VSOFS,VIOMFJOZ&HHFS
/653*$*»/:#&/&'*$*041"3"-"4"-6%
-PT NBDSPNJDFUPT ÙUJMFT TPO MPT RVF UJFOFO QSPQJFEBEFT DPNFTUJCMFT Z NFEJDJOBMFT
/P FYJTUF VOB EJTUJODJÓO GÃDJM FOUSF BNCBT DBUFHPSÎBT .VDIBT EF MBT FTQFDJFT
DPNFTUJCMFTDPNVOFTUJFOFOQSPQJFEBEFTUFSBQÊVUJDBTNVDIPTIPOHPTNFEJDJOBMFTTPO
UBNCJÊODPOTVNJEPTDPNPBMJNFOUP$VBESP
-BTFTQFDJFT(BOPEFSNBMJOH[IJ
PSFJTIJ
TPOMPTIPOHPTNFEJDJOBMFTNÃTWBMJPTPT*MVTUSBDJÓO
FMWBMPSNVOEJBMEF
MPTTVQMFNFOUPTEJFUÊUJDPTCBTBEPTFOMPT(BOPEFSNBIBTJEPFTUJNBEPFOVOPTNJM
NJMMPOFTEFEÓMBSFT&&66$IBOHZ#VTXFMM
-PTVTPTDFSFNPOJBMFTSFMJHJPTPTZPUSPTVTPTOPQSÃDUJDPTEFMPTIPOHPTTJMWFTUSFTTPOSFMBUJWBNFOUFEF
NFOPSJNQPSUBODJBZOPGPSNBOQBSUFEFFTUFEFCBUFWÊBTF%BWJTZ3JFEMJOHFSQBSBNBZPS
JOGPSNBDJÓO
*NQPSUBODJBQBSBMBQPCMBDJÓOBMJNFOUPTCFOFGJDJPTFDPOÓNJDPTDPNFSDJP
-PT-FOUJOVMBFEPEFTZMPT7PMWBSJFMMBWPMWBDFBTPOIPOHPTDPNFTUJCMFTBNQMJBNFOUF
DVMUJWBEPT RVF UJFOFO QSPQJFEBEFT NFEJDJOBMFT 4ÓMP MPT *OPOPUVT PCMJRVVT EF MBT FTQFDJFT NFEJDJOBMFT EFM $VBESP QBSFDFO OP TFS DVMUJWBEPT %F MBT FTQFDJFT
EF IPOHPT NFEJDJOBMFT SFQPSUBEBT FO FM "OFYP TÓMP FM DJODP QPS DJFOUP TPO
FDUPNJDPSSÎ[JDPTWFB3FTIFUOJLPW8BTTFSZ5BO
&TUPTFEFCFQSPCBCMFNFOUF
BVODÃMDVMPEFNBTJBEPCBKP.BP
ZBRVFMPTFTGVFS[PTEFMPTJOWFTUJHBEPSFTTF
IBO DPODFOUSBEP FO MBT FTQFDJFT TBQSÓGJUBT RVF QVFEFO TFS DVMUJWBEBT HBSBOUJ[BOEP FM
BQSPWJTJPOBNJFOUPZMBVOJGPSNJEBEEFMQSPEVDUP
)B IBCJEP VO JODSFNFOUP FTQFDUBDVMBS FO FM JOUFSÊT Z FO MB BDUJWJEBE DPNFSDJBM
SFMBDJPOBEPT DPO MPT TVQMFNFOUPT EJFUÊUJDPT DPO MPT BMJNFOUPT GVODJPOBMFT Z DPO
MPT EFNÃT QSPEVDUPT RVF TPO iTJNQMFNFOUF BMHP NÃT RVF VO BMJNFOUPu &ULJO Z
+PIOT8BTTFSFUBM
"VORVFFTUPTOVFWPTQSPEVDUPTUJFOFOVOQPUFODJBM
FDPOÓNJDP CBTUBOUF DMBSP TV JNQPSUBODJB QBSB MPT QBÎTFT FO EFTBSSPMMP UPEBWÎB FT
NBSHJOBM &O $IJOB TF SFDPMFDUBO IPOHPT TJMWFTUSFT NFEJDJOBMFT )BZ VO DPNFSDJP
TVTUBODJBMEF$PSEZDFQTTJOFOTJTFO4JDIVBO*MVTUSBDJÓO
1SJFTUDPNVOJDBDJÓO
QFSTPOBM &EJCMF BOE NFEJDJOBM GVOHJ JO $IJOB BOE HFOFSBM JOGPSNBUJPO 8JOLMFS
Z FO PUSPT QBÎTFT UBMFT DPNP /FQBM -BT QPCMBDJPOFT SVSBMFT HBOBO DBOUJEBEFT
DPOTJEFSBCMFTDPOMBDPTFDIBDPNFSDJBM
&M QSJODJQBM CFOFGJDJP EF MPT )4$ FT TJO FNCBSHP TV VTP DPNP BMJNFOUP 4PO
SFDPMFDUBEPT DPOTVNJEPT Z WFOEJEPT FO NÃT EF QBÎTFT "OFYPT Z Z TV
DPOUSJCVDJÓOBMBEJFUBTFSÃBOBMJ[BEBEFUBMMBEBNFOUFNÃTBEFMBOUF
&MWBMPSOVUSJUJWP
-PTFMFNFOUPTDPOTUJUVUJWPTEFVOIPOHPDPNFTUJCMFOPTPOOFDFTBSJBNFOUFVOBCVFOB
HVÎB EF TV WBMPS OVUSJUJWP #SFFOF -B GBDJMJEBE EF EJHFTUJÓO EF MPT EJGFSFOUFT
FMFNFOUPTDBNCJBNJFOUSBTMPTNÊUPEPTBOBMÎUJDPTOPTPOTJFNQSFVUJMJ[BEPTGJFMNFOUF
FO MPT FTUVEJPT $SJTBO Z 4BOET -BV &M VTP EF UÊDOJDBT EJGFSFOUFT QBSB
BOBMJ[BS FM WBMPS OVUSJUJWP MJNJUB UBNCJÊO MB DPNQBSBDJÓO EF MPT SFTVMUBEPT EF MPT
EJGFSFOUFT FTUVEJPT %FHSFFG FU BM -PT DÃMDVMPT EFM DPOUFOJEP FO QSPUFÎOBT
VUJMJ[BCMFT
EFCFSÎBOFYDMVJSMBRVJUJOBQSFTFOUFFOMBTQBSFEFTDFMVMBSFTNJDÓUJDBTQPS
FKFNQMP&TUPOPTJFNQSFTFMMFWBBDBCPFOFTUPTBOÃMJTJT
&O FM $VBESP PGSFDFNPT VO SFTVNFO EF BMHVOPT BOÃMJTJT OVUSJUJWPT 0CTFSWF
FM CVFO DPOUFOJEP EF QSPUFÎOBT Z EF NJOFSBMFT EF MBT QSJODJQBMFT FTQFDJFT TJMWFTUSFT
DPNFTUJCMFTDVBOEPIBOTJEPTFDBEBTFMDPOUFOJEPEFIVNFEBEPTDJMBFOUSFFMZFM
QPS DJFOUP FO MPT IPOHPT DBSOPTPT Z FO UJQPT TJNJMBSFT
-BT FTQFDJFT DPNFTUJCMFT
UJFOFOVOCBKPDPOUFOJEPEFHSBTBTDPOUJFOFOBNJOPÃDJEPTFTFODJBMFTNJOFSBMFTÙUJMFT
Z BVORVF OP TPO BMJNFOUPT RVF TVNJOJTUSBO FOFSHÎB $VBESP TPO VOB GVFOUF EF
OVUSJDJÓOGVOEBNFOUBMNFOUFNFKPSRVFMBRVFDPUJEJBOBNFOUFFTBTVNJEBPTFTVQPOF
RVFMPTFB3JDIBSET
&MBQPSUFBMBEJFUB
-PT $VBESPT Z DPNQBSBO FM WBMPS OVUSJUJWP EF MPT IPOHPT DPNFTUJCMFT DPO FM
EFPUSPTQSPEVDUPTBMJNFOUJDJPT&TUPTEBUPTDPOGJSNBORVFMPT)4$TPOOVUSJUJWPTZ
QVFEFTFSVOBBMUFSOBUJWBEJTQPOJCMFBMPTEFNÃTQSPEVDUPTDPNFTUJCMFTDPOPDJEPT4F
DPNQBSBOGBWPSBCMFNFOUFVTBOEPNFEJEBTFTUÃOEBSQBSBDBMDVMBSFMWBMPSOVUSJUJWPEF
MPTBMJNFOUPT&MBQPSUFBMBBMJNFOUBDJÓOEFQFOEFSÃEFMBTDBOUJEBEFTDPOTVNJEBTQPS
MBHFOUFEFMBTFTQFDJFTJOWPMVDSBEBTZEFMBGSFDVFODJBEFMDPOTVNP
-B HFOUF DPOTVNF B NFOVEP )4$ FO NVDIPT QBÎTFT Z ÊTUPT TPO VO BQPSUF
WBMJPTP Z B NFOVEP FTFODJBM B MBT EJFUBT DPNP EFNVFTUSB VO FTUVEJP FGFDUVBEP
FO .BMBXJ "CCPUU &TUF FTUVEJP EFUBMMBEP EF MBT DPTUVNCSFT BMJNFOUJDJBT
FO MPT QPCMBEPT SFWFMÓ RVF LH EF WFHFUBMFT TFDPT P EF )4$ FSB TVGJDJFOUF BM
TFS SFIJESBUBEPT
QBSB BMJNFOUBS B VOB GBNJMJB EF DVBUSP NJFNCSPT EVSBOUF EPT
TFNBOBT"CCPUU
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
3&$6"%30
"NJOPÃDJEPTQSPUFÎOBTZFMWBMPSOVUSJUJWPEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFT
%JWFSTBTNFEJEBTDÓNQVUPTÎOEJDFTWBMPSFT
CBTBEBTFOMBDPNQPTJDJÓOEFBNJOPÃDJEPTTPOVTBEBT
QBSB DPNQBSBS FM WBMPS OVUSJUJWP EF MPT )4$ DPO PUSPT BMJNFOUPT -PT DPOUFOJEPT EF HSBTBT Z EF
DBSCPIJESBUPTTPOEFNFOPSJOUFSÊTQPSRVFSBSBNFOUFTPOGBDUPSFTMJNJUBOUFTFOMBTEJFUBT-PTFTUVEJPT
BMJNFOUBSJPTTPCSFMPT)4$QPESÎBOQSPQPSDJPOBSMBFWJEFODJBNÃTEJSFDUBEFTVWBMPSOVUSJUJWPQFSP
IBTUBMBGFDIBOPIBOTJEPSFBMJ[BEPT
&Mëħõøýü÷ìíéõñö÷ĕëñì÷ûTFCBTBFOMBDBOUJEBEEFMPTBNJOPÃDJEPTNÃTMJNJUBOUFTQSFTFOUFT
FOVOBMJNFOUPFODPNQBSBDJÓODPOVOBQSPUFÎOBEFSFGFSFODJBQFKVOIVFWPEFHBMMJOB
&Mġöìñëí
ìíéõñö÷ĕëñì÷ûíûíöëñéôíûNJEFMBQSFTFODJBEFBNJOPÃDJEPTRVFMBHFOUFOPQVFEFTJOUFUJ[BSEBOEP
VOBNBZPSJOEJDBDJÓOEFMWBMPSOVUSJUJWPQPUFODJBM4JOFNCBSHPFTUFÎOEJDFOPFTQFDJGJDBMBNBOFSB
FYBDUB FO MB DVBM FTUPT BNJOPÃDJEPT TPO BCTPSCJEPT Z VUJMJ[BEPT QPS FM DVFSQP SB[ÓO QPS MB DVBM TF
DPNQVUBTVþéô÷úêñ÷ôħïñë÷RVFFTEFSJWBEPEFMġöìñëíìíéõñö÷ĕëñì÷ûíûíöëñéôíû
-PT ġöìñëíû ìí éõñö÷ĕëñì÷û íûíöëñéôíû EF MPT )4$ TF DPNQBSBO GBWPSBCMFNFOUF DPO PUSPT
BMJNFOUPT $VBESP %BEP RVF FYJTUFO GVFOUFT SFTUSJOHJEBT EF QSPUFÎOBT QBSB MB QPCMBDJÓO SVSBM
FO MPT QBÎTFT FO EFTBSSPMMP MB DPOUSJCVDJÓO EF MPT )4$ FT NÃT JNQPSUBOUF EF MP RVF TF SFDPOPDF
BNQMJBNFOUF&Mġöìñëíöýüúñëñ÷öéôQFSNJUFMBDPNQBSBDJÓOEFMPT)4$DPOQFRVFÒBTDBOUJEBEFT
EFQSPUFÎOBTEFBMUBDBMJEBEZEFMBTRVFUJFOFOVOWBMPSOVUSJUJWPNÃTCBKP-PTEBUPTEFM$VBESP
NVFTUSBOFMDBNQPNÃTBNQMJPEFWBMPSFTDPOUFOJEPTFOVOOÙNFSPMJNJUBEPEFFTQFDJFTFYBNJOBEBT
-BDPOUSJCVDJÓOGJOBMEFMPT)4$BMBTEJFUBTEFQFOEFOPTPMBNFOUFEFTVTWBMPSFTJOUSÎOTFDPTDPNP
DBMDVMBEPQPSFTUBTNFEJEBTTJOPUBNCJÊOEFMBTDBOUJEBEFTZFTQFDJFT
DPNJEBTFODPNQBSBDJÓODPO
PUSPTBMJNFOUPT-PTBOÃMJTJTOVUSJUJWPTNVFTUSBORVFMPT)4$TPOVOBGVFOUFJNQPSUBOUFEFQSPUFÎOBT
FO MPT QBÎTFT FO EFTBSSPMMP Z UJFOFO FM QPUFODJBM QBSB DPOUSJCVJS NBZPSNFOUF B MBT EJFUBT EF MBT
QPCMBDJPOFTEFNVDIPTQBÎTFT
%F$SJTBOZ4BOET
&M UJFNQP EF DPOTFSWBDJÓO EF MPT )4$ QVFEF TFS CSFWF QFSP MBT DPTFDIBTTPO
QSFTFSWBEBT UBNCJÊO FO VOB HSBO DBOUJEBE EF NPEPT EJGFSFOUFT &O MB 'FEFSBDJÓO EF
3VTJBZFO$IJOBMPT)4$TPOQSFTFSWBEPTHFOFSBMNFOUFFOTBMNVFSB*MVTUSBDJÓO
-PT SVTPT DPOHFMBO UBNCJÊO MPT )4$ QBSB TV VTP QPTUFSJPS 7MBEZTIFWTLJZ -BMFUJO
Z 7MBEZTIFWTLJZ &O 4VEÃGSJDB MPT IPOHPT DPNFTUJCMFT TF DPOTVNFO GSFTDPT Z
FTNFOPTDPNÙORVFMPTTFRVFO&OUPEBMBSFHJÓOEFMNJPNCPTVEBGSJDBOPMPT)4$
TPOVOBGVFOUFJNQPSUBOUFEFOVUSJDJÓOFOFMQFSÎPEPEFMBÒPDVBOEPFMTVNJOJTUSPEF
PUSPTQSPEVDUPTBMJNFOUJDJPTFTFTDBTPFTEFDJSFOMPTiNFTFTEFIBNCSVOBu-BEJFUB
FOFTUFQFSÎPEPDPOTJTUFQSJODJQBMNFOUFEFOTJNBVOBFTQFDJFEFBWFOBBCBTFEFNBÎ[
PEFZVDB
BMBDVBMTFBHSFHBOMPTIPOHPT*MVTUSBDJÓO
&TUBTTBMTBTTVNJOJTUSBOMPT
OVUSJFOUFTGVOEBNFOUBMFTZMFBHSFHBOTBCPSBMBOTJNBJOTÎQJEB
-BJOGPSNBDJÓOTPCSFMBTDBOUJEBEFTEF)4$DPOTVNJEPTJODMVZF
x .P[BNCJRVF BM OPSUF DFSDB EF MBT GSPOUFSBT DPO .BMBXJ MB HFOUF SFDPMFDUB EF
TFJT B LH EF )4$ EVSBOUF VOB UFNQPSBEB EJDJFNCSFNBS[P
4F FTUJNÓ RVF
DBEBHSVQPGBNJMJBSDPOTVNFFOUSFZLHQPSBÒP&MQPSDFOUBKFEFDPOTVNP
EF 5FSNJUPNZDFT TDIJNQFSJ GVF DBMDVMBEP FO VOPT LH QPS GBNJMJB BM BÒP
"OÃMPHBTDPTUVNCSFTBMJNFOUJDJBTTFQPESÎBOFTQFSBSSB[POBCMFNFOUFFO.BMBXJ
ZPUSBTSFHJPOFTEFNJPNCP.BTVLBFO#PBFUBM
x ;JNCBCXF DBEB GBNJMJB DPOTVNF IBTUB LH EF IPOHPT FO VOB UFNQPSBEB
EF QSPEVDDJÓO QFSP TÓMP LH FO MBT ÃSFBT EFGPSFTUBEBT .BTVLB DPNVOJDBDJÓOQFSTPOBM$PMMFDUJPOPGNVTISPPNTJO;JNCBCXF
x 'FEFSBDJÓOEF3VTJBm4JCFSJBMBHFOUFSFDPMFDUBLHFOVOBÒPZDPOTVNF
FM QPS DJFOUP EJSFDUBNFOUF -B QPCMBDJÓO EF MB SFHJÓO EF ,SBTOPZBSTL
SPOEBMPTUSFTNJMMPOFTEFIBCJUBOUFTFOVOÃSFBEFNJMMPOFTEFLNTFDBMDVMB
*NQPSUBODJBQBSBMBQPCMBDJÓOBMJNFOUPTCFOFGJDJPTFDPOÓNJDPTDPNFSDJP
$6"3%0
7BMPSOVUSJDJPOBMFTUJNBEPEFBMHVOPTIPOHPTDPNFTUJCMFT
&41&$*&4
¶/%*$&%&".*/0«$*%04
7"-03#*0-»(*$0
$».1650%&".*/0«$*%04
¶/%*$&/653*$*0/"-
&4&/$*"-&4
"HBSJDVTCJTQPSVT
$BOUIBSFMMVTDJCBSJVT
.BDSPMFQJPUBQSPDFSB
4VJMMVTHSBOVMBUVT
5FSNJUPNZDFT
o
&TQFDJFTEFMNVOEP
$VMUJWBEP#BTBEPFO'"0SFGFSFODFQBUUFSOTBOENFBOWBMVFTGPSTQFDJFTGSPNTFWFSBMTPVSDFT%BUPTOPQVCMJDBEPTQSFQBSBEPT
EF(SBIBN1JFBSDF7ÏBTFFOFM3FDVBESPVOEFCBUFTPCSFMBOVUSJDJØO
$6"%30
7JTJØOHFOFSBMEFMPTWBMPSFTOVUSJDJPOBMFTEFWBSJPTBMJNFOUPTDPNQBSBEPTDPOMPTIPOHPT
*/%*$&%&".*/0«$*%0&4&/$*"-&4
)
$».1650%&
".*/0«$*%04
)
*/%*$&/653*$*0/"-
$FSEPCPWJOPQPMMP
$FSEP
-FDIF
#PWJOPQPMMP
#PWJOP
1BUBUBTGSJKPMFT
-FDIF
$FSEP
.BÓ[
3FQPMMP
'SJKPMFTEFTPKB
1FQJOP
1BUBUBT
&TQJOBDBT
)
1PMMP
$BDBIVFUFT
$BDBIVFUFT
-FDIF
&TQJOBDBTGSJKPMFTEFTPKB
.BÓ[
'SJKPMFT
3FQPMMP
'SJKPMFT
$BDBIVFUFT
/BCPT
1FQJOPT
3FQPMMP
;BOBIPSJBT
/BCPT
1FQJOPT
5PNBUFT
;BOBIPSJBT
.BÓ[
&TQJOBDBT
/BCPT
'SJKPMFTEFTPKB
1BUBUBT
5PNBUFT
5PNBUFT
;BOBIPSJBT
)oMBTDPMVNOBTTPNCSFBEBTNVFTUSBOFMÈNCJUPEFWBMPSFTQBSBMPTIPOHPT-PTÓOEJDFTZMPTSFTVMUBEPTGJOBMFTGVFSPODBMDVMBEPT
FO DPNQBSBDJØO DPO MPT NPEFMPT EF SFGFSFODJB QVCMJDBEPT QPS MB '"0 MPT WBMPSFT CJPMØHJDPT TJHVFO NVZ EF DFSDB MPT ÓOEJDFT EF
BNJOPÈDJEPTFTFODJBMFT%BUPTEF$SJTBOZ4BOET
RVF FM QPS DJFOUP EF MBT GBNJMJBT SFDPMFDUB )4$ QBSB DPOTVNP QFSTPOBM QPS
QBTBUJFNQP P QBSB WFOEFSMPT CBTBEP FO MBT FOUSFWJTUBT EF FODVFTUBEPT
&M
VTPEF)4$IBDSFDJEPEFMQPSDJFOUPFOMPTÙMUJNPTBÒPTZIPZFOEÎB
QSPQPSDJPOBFMQPSDJFOUPEFMPTJOHSFTPTGBNJMJBSFT7MBEZTIFWTLJZ-BMFUJO
Z7MBEZTIFWTLJZ
$PNP SFHMB HFOFSBM DVBOUP NÃT QPCSF FT MB QPCMBDJÓO NÃT QPTJCJMJEBEFT FYJTUFO
EF RVF SFDPMFDUF Z DPOTVNB )4$ "MHVOBT USBEJDJPOFT TF IBO QFSEJEP EFCJEP B VOB
NFKPSFEVDBDJÓOZTJTUFNBTEFWJEBMFKPTEFMBDBNQJÒBMPRVFQSPEVDFVOBSFMVDUBODJB
DSFDJFOUFBMDPOTVNPEFUPEBTMBTFTQFDJFTJODMVTPEFMBTNÃTDPNVOFT3FDVBESP
-PXZ &O MB 3FQÙCMJDB EF $PSFB $IJOB 'FEFSBDJÓO EF 3VTJB Z +BQÓO MB
USBEJDJÓOEFDPNFS)4$FTNVDIPNÃTGVFSUFZQBSFDFRVFIBSFTJTUJEPBMPTDBNCJPT
RVFFTUBUSBEJDJÓONJTNBIBTVGSJEPFOMPTEFNÃTMVHBSFT
&M DPOTVNP EF )4$ QPS QBSUF EF MBT QPCMBDJPOFT SVSBMFT FT UBOUP VOB TFMFDDJÓO
JOEJWJEVBM DPNP VOB FTQFDJF EF ÙMUJNP SFDVSTP 4F EJTQPOF EF QPDB JOGPSNBDJÓO
GJEFEJHOB TJO FNCBSHP TPCSF FM VTP EF MPT )4$ FO MPT iQFSÎPEPT EF IBNCSVOBu
&O MB 'FEFSBDJÓO EF 3VTJB MPT TJTUFNBT EF EJTUSJCVDJÓO EF BMJNFOUPT IBO DPMBQTBEP
Z MPT TVCTJEJPT FTUBUBMFT QBSB MPT BMJNFOUPT IBO EFTBQBSFDJEP PCMJHBOEP B MB HFOUF B
iSFHSFTBSBMBDBNQJÒBu%FFTUFNPEPTFIBEFTBSSPMMBEPVOBEFQFOEFODJBSFOPWBEBEF
MPTQSPEVDUPTOBUVSBMFTZEFMBTUSBEJDJPOFTEFSFDPMFDDJÓOZEFDPOTVNPEFMPT)4$
&MBMDBODFEFFTUPTDBNCJPTOPFTNVZDMBSPQFSPFOGBUJ[BVOBWF[NÃTFTBDFSDBOÎBBM
DBNQPBTPDJBEBDPOFMDPOTVNPEF)4$
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
&MBQPSUFBMBTBMVE
-PT IPOHPT NFEJDJOBMFT TPO VTBEPT DPUJEJBOBNFOUF FO MB .FEJDJOB USBEJDJPOBM DIJOB
.5$
Z MB DPODJFODJB EF TVT VTPT FTUÃ DSFDJFOEP :JOH FU BM )PCCT -PTIPOHPTTJMWFTUSFTNFEJDJOBMFTTFSFDPMFDUBOZDPOTVNFOUBNCJÊOFO.ÊYJDPZFO
NVDIPTPUSPTQBÎTFT$VBESP
QFSPTVVTPNÃTBNQMJPZGSFDVFOUFFTUÃBTPDJBEPDPO
MBTQPCMBDJPOFTEF$IJOBZ"TJB-PTIPOHPTNFEJDJOBMFTTPOWFOEJEPTUBNCJÊOFOMPT
NFSDBEPT DIJOPT BVORVF MB DPOUSJCVDJÓO EF MBT SFDPMFDDJPOFT FO TV BNCJFOUF OBUVSBM
BÙOOPTPONVZDMBSBT$IBNCFSMBJO
&OUPEPFMNVOEPMBNBZPSÎBEFMBTWFOUBTQSPWJFOFOEFFTQFDJFTDVMUJWBEBTBVORVF
NVDIBTFTQFDJFTTPOUBNCJÊOSFDPMFDUBEBTFOTVIÃCJUBUOBUVSBM$VBESP
&MPCKFUJWP
EFMBSFDPMFDDJÓOTJMWFTUSFEFMPT$PSEZDFQTTJOFOTJTFOMB3FHJÓO"VUÓOPNBEF5JCFU
FO 4JDIVBO 8JOLMFS Z FO PUSBT QBSUFT EF $IJOB WFB FM NBQB EF EJTUSJCVDJÓO
FO.BP
FTHBOBSNVDIPEJOFSP*MVTUSBDJÓO
.ÃTBMMÃEF$IJOBOPFYJTUFVO
DPNFSDJPJOUFSOBDJPOBMBQSFDJBCMFEFIPOHPTNFEJDJOBMFT
-PTCFOFGJDJPTUFSBQÊVUJDPTEFMPTIPOHPTTJMWFTUSFTFTUÃOSFTVNJEPTFOFM$VBESP
FTQFDJGJDBOEPRVFNVDIPTEFFMMPTTPODPOTVNJEPTDPNPBMJNFOUP
$0.&3$*"-*;"$*»/-0$"-&*/(3&404&$0/».*$04
)BZ EPT QBVUBT TPCSF FM VTP EF MPT )4$ TVCTJTUFODJB P VTP QFSTPOBM Z SFDPMFDDJÓO
DPNFSDJBM -PT EBUPT TPCSF MBT SFDPMFDDJPOFT QBSB VTP QFSTPOBM TPO FTDBTPT QFSP FM
$6"%30
1SPQJFEBEFTZDBSBDUFSÓTUJDBTEFQSJODJQBMFTNBDSPNJDFUPTNFEJDJOBMFT
/0.#3&$*&/5¶'*$0
1301*&%"%&4
{64"%0$0.0
3&$0-&$$*»/
.&%*$*/"-&4
"-*.&/50
&/ 46 )«#*5"5
$6-5*7"%0
130%6$50
$0.&3$*"-
/"563"-
"HBSJDVTCMB[FJ
iDPNFTUJCMFw
TÓ
OP
"HSPDZCFBFHFSJUB
TÓ
TÓ
TÓ
"SNJMMBSJBNFMMFB
TÓ
TÓ
TÓ
"VSJDVMBSJBBVSJDVMBKVEBF
TÓ
TÓ
TÓ
%FOESPQPMZQPSVT
VNCFMMBUVT
OP
TÓ
OP
'MBNNVMJOBWFMVUJQFT
TÓ
TÓ
TÓ
'PNFTGPNFOUBSJVT
OP
TÓ
TÓ
(BOPEFSNBBQQMBOBUVN
OP
TÓ
TÓ
(BOPEFSNBMVDJEVN
iDPNFTUJCMFw
TÓ
OP
(SJGPMBGSPOEPTB
TÓ
TÓ
TÓ
)FSJDJVNFSJOBDFVT
TÓ
TÓ
TÓ
)ZQTJ[ZHVTNBSNPSFVT
TÓ
TÓ
OP
*OPOPUVTPCMJRVVT
OP
OP
OP
-BFUJQPSVTTVMQIVSFVT
TÓ
TÓ
TÓ
-FOUJOVMBFEPEFT
TÓ
TÓ
OP
-FO[JUFTCFUVMJOB
OP
{
OP{
TÓ
.BSBTNJVTBOESPTBDFVT
TÓ{
{
TÓ{
OP
0VEFNBOTJFMMBNVDJEB
iDPNFTUJCMFw
TÓ
OP
1JQUPQPSVTCFUVMJOVT
OP
TÓ
TÓ
1MFVSPUVTPTUSFBUVT
TÓ
TÓ
TÓ
1MFVSPUVTQVMNPOBSJVT
TÓ
TÓ
TÓ
4DIJ[PQIZMMVNDPNNVOF
TÓ
TÓ
OP
5SBNFUFTWFSTJDPMPS
iDPNFTUJCMFw
TÓ
OP
5SFNFMMBGVDJGPSNJT
iDPNFTUJCMFw
TÓ
TÓ
7PMWBSJFMMBWPMWBDFB
TÓ
TÓ
TÓ
JNQPSUBODJBNFOPSDBOUJEBEFTJNQPSUBOUFTSFDPMFDUBEBT"NCPTWBMPSFTFTUÈOFOSFMBDJØODPOMBTDBOUJEBEFTUPUBMFTVTBEBT
NVOEJBMNFOUFJODMVZFOEPMBTQSPEVDDJPOFTDVMUJWBEBT
/PUB -PT EJGFSFOUFT VTPT NFEJDJOBMFT DPOTJTUFO FO o "OUJCJØUJDPT JODMVZF BOUJNJDØUJDP BOUJCBDUÏSJDP BOUJQBSBTÓUJDP QFSP
OP BOUJWJSBM
o "OUJJOGMBNBUPSJP o "OUJUVNPSBMFT o "OUJWJSBM o 3FHVMBDJØO EF MB QSFTJØO TBOHVÓOFB o %FTØSEFOFT
DBSEJPWBTDVMBSFT o IJQFSDPMFTUFSJOFNJB <$PMFTUFSPM BMUP HSBTBT BMUBT> o "OUJEJBCÏUJDP o *ONVOPNPEVMBDJØO o 5ØOJDP
SFOBMo)FQBUPQSPUFDUPSo5ØOJDPOFVSPMØHJDP{ "OUJEFQSFTJWPJNQSFDJTP
o1PUFODJBEPSTFYVBMo#SPORVJUJTDSØOJDB
DPOUSB
'VFOUF8BTTFSZ8FJTB
*NQPSUBODJBQBSBMBQPCMBDJÓOBMJNFOUPTCFOFGJDJPTFDPOÓNJDPTDPNFSDJP
3&$6"%30
-PTQFSNJTPTZMBTMFZFTFONBUFSJBEFSFDPMFDDJÓO
6OBEFMBTDPOTFDVFODJBTJOFWJUBCMFTEFMBSFDPMFDDJÓODPNFSDJBMFTMBJOUSPEVDDJÓOEFQFSNJTPT%FTEF
#IVUÃO B 4FSCJB ÊTUPT TPO JOUSPEVDJEPT DPO FM QSFUFYUP EF SFHMBNFOUBS FM JNQBDUP DBVTBEP QPS MPT
SFDPMFDUPSFT Z QPS MB SFDPMFDDJÓO FO MBT QSPEVDDJPOFT GVUVSBT EF )4$ BVORVF FYJTUF QPDB FWJEFODJB
EF RVF FM EJOFSP QBHBEP B MBT BVUPSJEBEFT MPDBMFT TFB JOWFTUJEP FO MPT SFDVSTPT OFDFTBSJPT QBSB MBT
BDUJWJEBEFTOPSNBUJWBT
&O $BTUJMMB -FÓO BM OPSPFTUF EF &TQBÒB
FM TJTUFNB EF QFSNJTPT QBSB MB SFDPMFDDJÓO EF OÎTDBMPT
-BDUBSJVTEFMJDJPTVT
DPMBQTÓFO#VFOBWJTUBEF7BMEBWJBDVBOEPTÓMPDVBUSPQFSTPOBTTPMJDJUBSPOFTUB
BVUPSJ[BDJÓOFOBMQSFDJPEFEÓMBSFT&&66DVQPSVOBUFNQPSBEBEFTFJTNFTFT-PTEFNÃT
SFDPMFDUPSFTEFDJEJFSPORVFZBOPFSBOFDFTBSJPFTUFQFSNJTPQSJODJQBMNFOUFQPSRVFMPTHVBSEBCPTRVFT
EFM4FSWJDJPEF1SPUFDDJÓOEFMB/BUVSBMF[BTFEFNPTUSBSPOJOFGJDBDFTFOFMDPOUSPMEFMPTQFSNJTPT-PT
SFDPMFDUPSFTEFMBMPDBMJEBETFQSFPDVQBSPOQPSMBBGMVFODJBEFSFDPMFDUPSFTEFBGVFSBFOMPTDBNQPTEF
OÎTDBMPTZGVFSPOJOTVMUBEPTBMTPMJDJUBSRVFÊTUPTMFTNPTUSBSBOTVTSFTQFDUJWPTQFSNJTPT/PIBZSPDFT
PCWJPTFOUSFMBQPCMBDJÓOMPDBMZMPTSFDPMFDUPSFTEFMPTQPCMBEPTWFDJOPTQFSPNVDIPTFYQSFTBSPORVF
TFUFOÎBRVFWPMWFSBVUJMJ[BSFMTJTUFNBEFQFSNJTPTQPSRVFFTUBCBOQSFPDVQBEPTQPSMBTQFSTQFDUJWBTB
MBSHPQMB[PFOMBQSPEVDDJÓOEFIPOHPT
&O MPT BMSFEFEPSFT EF #PSHP 7BM EF 5BSP 1BSNB BM OPSUF EF *UBMJB
QBSFDF RVF FTUF TJTUFNB EF
QFSNJTPT GVODJPOB NFKPS -BT BVUPSJEBEFT MPDBMFT QVCMJDBO MBT OPSNBT DBEB BÒP FTUBCMFDJFOEP MBT
DPOEJDJPOFTZDPTUPTEFSFDPMFDDJÓOEF)4$-PTQSFDJPTDBNCJBOBQBSUJSEFDJODPEÓMBSFT&&66QPS
VOQFSNJTPEFVOEÎBQBSBMPTSFTJEFOUFTDPOVOMFWFBVNFOUPQBSBMPTOPSFTJEFOUFT-BTEJGFSFODJBTTPO
NÃTSFNBSDBEBTFOMPTQFSNJTPTEFTFJTNFTFTQBSBMPTDVBMFTMPTOPSFTJEFOUFTQBHBOIBTUBFMEPCMFEF
MPTSFTJEFOUFTIBTUBEÓMBSFT&&66
-BSFDPMFDDJÓOFTUÃSFTUSJOHJEBBUSFTDVBUSPEÎBTQPSTFNBOB
ZBVOBDBOUJEBEKPSOBMFSBEFLH&TUBÃSFBFTTFOTJCMFNFOUFNFKPSRVFMBEF#VFOBWJTUBEF7BMEBWJB
EPOEFMBOFDFTJEBEEFHBOBSEJOFSPDPOMPTOÎTDBMPTFTNÃTVSHFOUF
&O'SBODJBFMJODSFNFOUPEFSFDPMFDUPSFTEF)4$IBJOUSPEVDJEPMBOFDFTJEBEEFOPSNBTNÃTTFSJBT
TPCSFDVÃOEPZDVÃOUPQVFEFTFSSFDPMFDUBEP-PTMÎNJUFTKPSOBMFSPTEFLHIBOTJEPEFGJOJEPTDPO
QSPIJCJDJÓOEFSFDPMFDUBSMPTEÎBTNBSUFTZKVFWFT6OQFSNJTPBOVBMDVFTUBVOPTEÓMBSFT&&66
'VFOUFT&TQBÒBmEF3PNÃODPNVOJDBDJÓOQFSTPOBM5SBEFJOOÎTDBMPTGSPN/PSUI4QBJOUP$BUBMPOJBBOEUSVGGMF
QSPEVDUJPO
*UBMJBmPCTFSWBDJPOFTQFSTPOBMFTZ;BNCPOFMMJDPNVOJDBDJÓOQFSTPOBM5SVGGMFBOEDPMMFDUJOHQPSDJOJ
JO*UBMZ
'SBODJBm#ÊSFMMF
BMDBODFEFFTUBQSÃDUJDBFTHMPCBMZIBZDBEBWF[NÃTJOGPSNFTRVFBZVEBOBEFNPTUSBS
MBJNQPSUBODJBEFMPT)4$QBSBMBTQPCMBDJPOFTSVSBMFTEFMPTQBÎTFTFOEFTBSSPMMP6OB
CVFOB DBOUJEBE EF FTQFDJFT TPO DPOTVNJEBT MPDBMNFOUF DPNQBSBEBT DPO FM QFRVFÒP
OÙNFSPJNQMJDBEPFOMBSFDPMFDDJÓODPNFSDJBM
'JOMBOEJBUJFOFMBJOGPSNBDJÓONÃTEFUBMMBEBTPCSFMBTSFDPMFDDJPOFTQBSBDPOTVNP
QFSTPOBMEF)4$BVORVFÊTUPTTPOMBQBSUFNFOPTJNQPSUBOUFEFMBEJFUBGJOMBOEFTBEF
IPZFOEÎBFOUJFNQPTEFCJFOFTUBSFDPOÓNJDPSFMBUJWPQFSPFYJTUFUPEBWÎBVOBQPZP
HVCFSOBNFOUBMQBSBTVSFDPMFDDJÓO)BZVOBGVFSUFUSBEJDJÓOEFSFDPMFDDJÓOZDPOTVNP
EF)4$FOFMFTUFEF'JOMBOEJBVOBSFHJÓOEPOEFTFFTUBCMFDJÓMBQPCMBDJÓOLBSFMJBOB
PSJHJOBSJB EF MB 'FEFSBDJÓO EF 3VTJB "MSFEFEPS EFM QPS DJFOUP EF MBT GBNJMJBT
LBSFMJBOBTMPTSFDPMFDUBQBSBWFOEFSMPTFOFMNFSDBEPBVORVFMBTDBOUJEBEFTDBNCJBOEF
BÒPFOBÒPEFCJEPBMBPTDJMBDJÓOEFMBTSFDPMFDDJPOFT&MBÒPUVWPVOBQSPEVDDJÓO
FTDBTB Z DFSDB EFM QPS DJFOUP EF MBT GBNJMJBT FOUSFWJTUBEBT OP SFDPMFDUÓ OJ VO TPMP
IPOHPFOFTFQFSÎPEP-BTDPNVOJEBEFTNÃTQPCSFTSFDPMFDUBSPOQSJODJQBMNFOUFQBSB
WFOEFSFOMPTNFSDBEPTMPDBMFT)ÅSLÕOFO
-BTDBOUJEBEFTUPUBMFTWFOEJEBTFOMPTNFSDBEPTMPDBMFTQVFEFOTFSJONFOTBT$VBESP
6OB FWJEFODJB BOFDEÓUJDB EF $IJOB OBSSB EF FOPSNFT DBOUJEBEFT SFDPMFDUBEBT
Z MMFWBEBT B MPT NFSDBEPT FO MPT QFRVFÒPT QPCMBEPT Z EF BIÎ B MBT HSBOEFT DJVEBEFT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
3FDPMFDDJØOMPDBMDPNFSDJBMJ[BDJØOZVTPEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFT
1"¶4
3&$0-&$$*0/&4:640
$"/5*%"%
'6&/5&
"MFNBOJB
.ÞOJDI
#IVUÈO
1BSBMBWFOUBEVSBOUFFMWFSBOPEFUPEBTMBTFTQFDJFT
'VFOUFT
EF)4$OPDPOPDJEBT
-BHFOUFSFHVMBSNFOUFSFDPMFDUBQBSBVTPQFSTPOBMDPOTVNP
ZWFOUBFOMPTNFSDBEPT"MHVOPTNBUTVUBLFTGVFSPOWFOEJEPT
QSFDFEFOUFNFOUFFOMPTNFSDBEPTQFSPQSJODJQBMNFOUFQPS
DBTVBMJEBE-BHFOUFWFOEFBJOUFSNFEJBSJPTRVFMVFHPWFOEFO
BMPTFYQPSUBEPSFT
UPOFMBEBT
"SOPMET
/BNHZFM
$IJMF
4QQ$ZUUBSJBSFDPMFDDJØOUPUBMFOVOBUFNQPSBEBQBSBWFOUBT
MPDBMFTZDPOTVNP
%BUP
EFTDPOPDJEP
TPCSFMBT
SFDPMFDDJPOFT
QBSBVTP
QFSTPOBM
oLH
$IJOB
4JDIVBO
.VDIBTFTQFDJFTSFDPMFDUBEBTZDPOTVNJEBT-PTNBUTVUBLFT
GVFSPOiEFTDVCJFSUPTwQPSMPTKBQPOFTFTFO&YQPSUBEPT
BUSBWÏTEF,VONJOHZ$IFOHEV{ -PTNBUTVUBLFTTPO
DPNQSBEPTQPSMPTDPNFSDJBOUFTRVFUJFOFOBDDFTPBM
USBOTQPSUFMPTMMFWBOBVOBMPDBMJEBEBLNEFEJTUBODJBZMPT
WFOEFODPOVOBVUJMJEBEEFM
3FDPMFDDJPOFTEJBSJBTEFMBTFTQFDJFTDPNFTUJCMFTFO(VJMPOH
%FRJOHFOUFNQPSBEBTEFNFTFT7FOEJEPTFOMBMPDBMJEBE
)POHPTSFDPMFDUBEPTQBSBFMVTPMPDBMQSPNFEJPBOVBMQFS
DÈQJUB
3FDPMFDDJPOFTJOEJWJEVBMFTEFUPEBTMBTFTQFDJFTFOMBT
UFNQPSBEBTCVFOBT&MTPOQBSBFMDPOTVNPQFSTPOBM
FMSFTUPFTWFOEJEP.VDIBTGBNJMJBTFTUÈODPOHFMBOEPFM
QSPEVDUP&OFMOPSUFEFMB5BJHBMBHFOUFDPOTVNF)4$
DBTJUPEPTMPTEÓBT&MNFSDBEPIBDPMBQTBEPKVOUPBMBT
PSHBOJ[BDJPOFTFTUBUBMFTQSFDFEFOUFNFOUF(PTQSPNLIPW
DPNQSØIBTUBUPOFMBEBTBQSFDJPTGJKPTDVBOEPMB
UFNQPSBEBFSBCVFOBZMPTQSFDJPTEFDPNQSBFSBONÈTCBKPT
(ZSPNJUSBFTDVMFOUBDPNQSBEBQBSBFMDPNFSDJPFOB
C
MB'FEFSBDJØOEF3VTJBFTPUSBGVFOUFQPTJCMF
$IJOB
:VOOBO
&TUPOJB
'FEFSBDJØO
EF3VTJB
4JCFSJB
DFOUSBM
'JOMBOEJB
*OEJB
)JNBMBZB
*OEJB
.BEIZB
1SBEFTI
*UBMJB
.BMBXJ
-JXPOEF
.ÏYJDP
$JVEBEEF
.ÏYJDP
.ÏYJDP
5MBYDBMB
3FQÞCMJDB
%FNPDSÈUJDB
EFM$POHP
3FQÞCMJDB
6OJEBEF
5BO[BOÓB
5VSRVÓB
;JNCBCXF
%BUP
EFTDPOPDJEP
TPCSFMBT
SFDPMFDDJPOFT
QBSBVTP
QFSTPOBM
oLH
LH
LH
4DINFEB
)JSTDINBOOFUBM
B
8JOLMFS:FI
3JKTPPSUZ1JLVO
1BBMZ
4BBTUBNPJOFO
7MBEZTIFWTLJZ
-BMFUJOZ
7MBEZTIFWTLJZ
B
UPOFMBEBTC
UPOFMBEBT
)ÊSLÚOFO
1FLLBSJOFOZ
.BMJSBOUB
)BTUBLH
4JOHIZ3BXBU
UPOFMBEBT
)BSTI3BJZ4POJ
UPOFMBEBT
)BMMFUBMB
6OPTEPTNJMMPOFTEFQFSTPOBTFTUÈOJOWPMVDSBEPTFOMB
SFDPMFDDJØOEFIPOHPTZCBZBTTJMWFTUSFTDPNFTUJCMFTQBSBVTP
QFSTPOBMPQBSBMBWFOUB6OQSPNFEJPEFMEFSFDPMFDUPSFT
WFOEJØTVQSPEVDUPFOEJTUSJUPTFMFOFMOPSUFEF
,BSFMJBZOPEFMUPEPFOEPTEJTUSJUPTFTUVEJP
"DUJWJEBE
EFFYQPSUBDJØOMJNJUBEB
3FDPMFDDJØOEJBSJBEFIPOHPTDPMNFOJMMBQPSQBSUFEF
SFDPMFDUPSFTFYQFSUPTUPEPTQBSBFYQPSUBDJØO
5FSNJUPNZDFTIFJNJJWFOEJEPFONFSDBEPTEVSBOUFVOB×P
QBSBFMDPOTVNPMPDBM/PQVFEFOTFSBMNBDFOBEPTQPSNÈT
EFVOEÓBBMHVOPTTPOTFDBEPTQBSBTVDPOTVNPQPTUFSJPS&M
5)FJNJJOPHBOBMPTQSFDJPTEFQSJNFSBRVFTFNFSFDF-PT
QPMZQPSFTNFEJDJOBMFTTPOSFDPMFDUBEPTQFSPDPNQSBEPTBCBKPT
QSFDJPTDPNQBSBEPTDPOMPTQSFDJPTBMQPSNFOPSEF/VFWB
%FMIJ
4QQ5VCFSSFDPMFDUBEBTFOQSPNFEJPBOVBMJODMVZFOEPFM
EFQSFDJPTNÈTBMUPTQBSBFMNFSDBEPOFHSP7FOEJEPFOMB
MPDBMJEBE
5PEBTMBTFTQFDJFTDPNFTUJCMFTWFOEJEBTFOEVSBOUFEPT
NFTFTEFVOPTQVFTUPTEFWFOUB
)VJUMBDPDIFFMNBÓ[JOGFDUBEPQPSFM6TUJMBHPNBZEJT
WFOEJEP
FOMPTNFSDBEPT
UPOFMBEBT
#PBFUBM
UPOFMBEBT
7JMMBOVFWB
-BQSPEVDDJØOEFVOEÓBEFSFDPMFDDJØOUPEBTMBTFTQFDJFT
LH
$POTVNPBOVBMFOMBSFHJØOEFM4IBCBEFMBTSFDPMFDDJPOFT
MPDBMFT
UPOFMBEBT
.POUPZB&TRVJWFMFU
BM
%FHSFFGFUBM
7FOEJEPTBPSJMMBTEFMDBNJOPBNFOVEPDFSDBEFMMVHBSEPOEF
DSFDFOMPT5FSNJUPNZDFT
ZFOMPTNFSDBEPT/PTFUJFOFOPDJØO
TPCSFMBTFYQPSUBDJPOFT
3FDPMFDDJPOFTEFQPCMBEPTEFB
$BOUIBSFMMVTDJCBSJVT
C
#PMFUVTFEVMJTD
TQQ.PSDIFMMBE
TQQ-BDUBSJVToWBMPS
UPUBMFO&&66-BNBZPSQBSUFQBSBMBWFOUBMPDBM
7PMVNFOUPUBMEFUPOFMBEBT%BUPTEF
%BUP
EFTDPOPDJEP
)ÊSLÚOFO
B
UPOFMBEBT
C
UPOFMBEBT
D
UPOFMBEBT
E
UPOFMBEBT
oLH
$BWBMDBTFMMF
3FDPMFDDJØOEF#PMFUVTFEVMJTQPSQFSTPOBBMEÓBTØMPQBSBMB
FYQPSUBDJØO
.BTVLB$PN
1FST$PMMFDUJPO
PGNVTISPPNTJO
;JNCBCXF
/PUBMBTDBOUJEBEFTTFSFGJFSFOBMPTQSPEVDUPTQFTPGSFTDPPQSFTVNJEPTUBMFTFOBVTFODJBEFPUSBJOGPSNBDJØO
*NQPSUBODJBQBSBMBQPCMBDJÓOBMJNFOUPTCFOFGJDJPTFDPOÓNJDPTDPNFSDJP
*MVTUSBDJÓO
-BDPOTFSWBDJÓOFOTBMNVFSBEFMPT)4$FTVOFMFNFOUPJNQPSUBOUFEF
FTUFNFSDBEPZQFSNJUFVOBNBZPSPGFSUBEFHSBOEFTDBOUJEBEFTEFIPOHPTDPNFTUJCMFT
4FEFTDPOPDFTJOFNCBSHPTVDPOUSJCVDJÓOGJOBODJFSBBMPTNFEJPTEFWJEBSVSBMFTB
QFTBS EF MB BNQMJB WFOUB EF )4$ BM JOUFSOP EF $IJOB Z EFM DPOTVNP EF FYQPSUBDJÓO
DBTJFMQPSDJFOUPEF#PMFUVTFEVMJTJNQPSUBEPTQPS*UBMJBWJFOFOEF$IJOB#PSHIJ
DPNVOJDBDJÓOQFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBMXJMEFEJCMFGVOHJJO*UBMZ
RVFEFNVFTUSBODMBSBNFOUFRVFTFQSPEVDFOHSBOEFTDBOUJEBEFTEFEJOFSP
-BTFYQFSJFODJBTFO.BMBXJEFNPTUSBSPORVFFMEJOFSPHBOBEPQPSMPTSFDPMFDUPSFT
MPDBMFT FSB QPDP QFSP GVOEBNFOUBM Z RVF FYJTUF VO NFSDBEP MPDBM FO FYQBOTJÓO QBSB
MPT )4$ #PB FU BM -BT NVKFSFT WBO GSFDVFOUFNFOUF B SFDPMFDUBS FO NVDIBT
QBSUFTEFMTVSEF¦GSJDBZVOCVFOOÙNFSPEFJOGPSNFTDPOGJSNBOMBJNQPSUBODJBEF
FTUBBDUJWJEBEEVSBOUFMPTUSFTDVBUSPNFTFTRVFEVSBMBUFNQPSBEBDBEBBÒP3JDIBSET
5IPNTPO
-BEJTUBODJBEFTEFMPTTJUJPTEFSFDPMFDDJÓOIBTUBMPTQPTJCMFTNFSDBEPTFTVOGBDUPS
DMBWFQBSBMBWFOUBEFMPT)4$-PTNFSDBEPTBNCVMBOUFTBMCPSEFEFMPTDBNJOPTEF
QFOFUSBDJÓO
FO-JMPOEF.BMBXJFTUÃODFSDBEFMPTCPTRVFTEPOEFTFSFDPMFDUBOMPT
)4$-BDBSSFUFSBFTFMQSJODJQBMNFEJPEFDPNVOJDBDJÓOFOUSF#MBOUZSFZ-JMPOHXF
ZMPTQVFTUPTQSPWJTPSJPTWFOEFOBMSFEFEPSEFDJODPUPOFMBEBTEF)4$EVSBOUFVOB
UFNQPSBEB EF DVBUSP NFTFT /P IBZ FTDBTF[ EF QFSTPOBT RVF RVJFSBO SFDPMFDUBS Z
WFOEFSZFTUPQFSNJUFFMJODSFNFOUPEFMBDPNQFUFODJBQPSMPTSFDVSTPTNJDÓUJDPT
IPZ FO EÎB MB HFOUF UJFOF RVF EFTQMB[BSTF NÃT MFKPT QBSB SFDPMFDUBS -PXPSF Z
#PB
-B FTUSVDUVSB EFM NFSDBEP FO .BMBXJ FT UÎQJDB EF NVDIPT QBÎTFT BGSJDBOPT QFK
4JFSSB -FPOB %PXO DPNVOJDBDJÓO QFSTPOBM 8JME FEJCMF GVOHJ 4JFSSB -FPOF
FT EFDJS WFOUBT MPDBMFT Z FO QFRVFÒB FTDBMB -BT WFOUBT FO -JXPOEF Z PUSPT MVHBSFT
EFQFOEFOEFMGMVKPEFUSÃGJDPZBMHVOPTEÎBTQPDPTDPNQSBEPSFTTFEFUJFOFO"MHVOPT
DPNFSDJBOUFT FTQFSBO IBTUB FM GJO EF MB KPSOBEB Z DPNQSBO FM QSPEVDUP OP WFOEJEP
EFTQMB[ÃOEPTF MVFHP DPO SBQJEF[ IBDJB MPT NFSDBEPT DFOUSBMFT FO MBT DJVEBEFT NÃT
HSBOEFT &M QSFDJP RVF PGSFDFO FT CBKP QFSP MBT BMUFSOBUJWBT TPO TFDBS MPT IPOHPT P
EFTFDIBSMPT-PTNFSDBEPTMPDBMFTEF.BEIZB1SBEFTI*OEJBTPOUBNCJÊOFOQFRVFÒB
FTDBMB)BSTI3BJZ4POJ
ZQBSFDFRVFGVODJPOBOEFMBNJTNBGPSNBBMJOUFSOP
EFMPTQPCMBEPTFOWF[EFMPTCPSEFTEFMPTDBNJOPTEFQFOFUSBDJÓO
&OMB'FEFSBDJÓOEF3VTJBFMDPMBQTPEFMBTJOTUJUVDJPOFTZEFMFTUBEPNFSDBEPIBBGFDUBEP
DPOTJEFSBCMFNFOUFMBTDBOUJEBEFTEFEJOFSPRVFMBHFOUFQVFEFHBOBSQPSNFEJPEFMPT)4$
$VBESP
-BTDPOUSBSJFEBEFTQSFDFEFOUFTQPSDVMQBEFMPTCBKPTQSFDJPTPGSFDJEPTQPSFM
FTUBEPTPOWJTUBTDPOMBTBCJEVSÎBEFMBFYQFSJFODJBDPONFOPTBTQFSF[BEFTQVÊTEFMDPMBQTP
EFMPTNFSDBEPTMPDBMFT7MBEZTIFWTLJZ-BMFUJOZ7MBEZTIFWTLJZ
-B FMJNJOBDJÓO EFM DPOUSPM FTUBUBM FO $IJOB IB QSPEVDJEP VOB NBZPS BDUJWJEBE
FNQSFTBSJBM BVORVF OP TJO GSBDBTPT -BT JOEVTUSJBT RVF QSPDFTBO MPT NBUTVUBLFT
FO 4JDIVBO BQFOBT TPCSFWJWFO 8JOLMFS MBT JOTUBMBDJPOFT BOÃMPHBT QBSB MB
QSPEVDDJÓO EFM HBOCBKVN 5IFMFQIPSB HBOCBKVN
OVODB PQFSBSPO FGFDUJWBNFOUF Z
FTUBTFNQSFTBTIBOTJEPFWFOUVBMNFOUFDFSSBEBT3JKTPPSUZ1JLVO
&MDPNFSDJP
MPDBMEFHBOCBKVNIBDPOUJOVBEPBVORVFMPTSFDPMFDUPSFTFNQMFBONÃTUJFNQPFOMB
MJNQJF[BEFTVTQSPEVDUPTQBSBFMNFSDBEPIBTUBEPTIPSBTQPSLH
-PTDPOTVNJEPSFT
QBHBOQSFDJPTNÃTBMUPTQPSVOQSPEVDUPEFNFKPSDBMJEBE
&-$0.&3$*0/"$*0/"-&*/5&3/"$*0/"&MDPNFSDJPJOUFSOBDJPOBMEF)4$TFIBFGFDUVBEPEVSBOUFNVDIPTBÒPT&OMPTBÒPT
PDIFOUB /VFWB ;FMBOEJB FYQPSUBCB IPOHPT iPSFKB EF QBMPu "VSJDVMBSJB QPMZUSJDIB
B $IJOB $PMFOTP m )BMM ;BNCPOFMMJ Z 1SJNBWFSB &O 'SBODJB
FYQPSUÓ MB TPSQSFOEFOUF DBOUJEBE EF UPOFMBEBT EF USVGBT TQ 5VCFS
B *UBMJB
"JOTXPSUI *UBMJB IB JNQPSUBEP QPS NVDIP UJFNQP #PMFUVT FEVMJT Z USVGBT EF
WBSJPT QBÎTFT *MVTUSBDJPOFT Z FY :VHPTMBWJB FNQF[Ó B FYQPSUBS # FEVMJT FO MPT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
1SPEVDDJØONVOEJBMEFIPOHPTDVMUJWBEPT
¶5&.
1SPEVDDJØONVOEJBMUPOFMBEBT
1SPEVDDJØOEF$IJOB
7BMPSEFMBQSPEVDDJØONVOEJBM
&&66NJMMBSFTEFNJMMPOFT
"HBSJDVTCJTQPSVT
-FOUJOVMBFEPEFTTIJJUBLF
OE
OE
1MFVSPUVT
OE
-PTEBUPTEFMTPOFTUJNBEPTCBTÈOEPTFFOVOQPSDJFOUPBOVBMEFJODSFNFOUPFOFMWPMVNFOZEFMQPSDJFOUPEF
JODSFNFOUPFOMPTQSFDJPTEF
'VFOUFT$IBOH$IBOHZ.JMFT
$6"%30
7BMPSEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTSFDPMFDUBEPTQPSQBÓTEFPSJHFO
1"¶4
3&$0-&$$*»/:&91035"$*»/
&/.*--0/&4
&&66
'6&/5&
$BOBEÈ
"OUFTEFMBSFDBVEBDJØOUSJCVUBSJBEFDPNQB×ÓBT
JOWPMVDSBEBTFOMBDVMUJWBDJØODPNQSBPWFOUBEFUPEPT
MPT)4$6OPTSFDPMFDUPSFTFTUÈOJOWPMVDSBEPT&M
QSPNFEJPFTEFMBTUFNQPSBEBTiCVFOBTwZiNBMBTw
8JMMTZ-JQTFZ
$IJOB4JDIVBO
B
$PTFDIBBOVBMEF$PSEZDFQTEFIBTUBNFEJBEPTEF
MPTB×PT
B
C
8JOLMFS
C
$PTFDIBEF$PSEZDFQTTJOFOTJTFO-JUBOH
$IJOBPFTUFEF
4JDIVBO
5SJDIPMPNBNBUTVUBLFSFOUBTQBSBMPTBHSJDVMUPSFT
8JOLMFS
$IJMF
)4$FYQPSUBEPTTBMBEPTTBMNVFSBEPT
ZTFDBEPT
EFTIJESBUBEPT
7BMPSBOVBMB
QSPNFEJP
C
JOUFSWBMP
B
C
'"0B
&TUBEPT6OJEPT
B
IPOHPTDPMNFOJMMBC
SFCP[VFMPTD
NBUTVUBLFTE
CPMFUPT%BUPTQBSB
B
C
D
E
4DIMPTTFSZ#MBUOFS
.ÏYJDPFO
FTUBEPT
5SJDIPMPNBNBHOJWFMBSFQBSBMBFYQPSUBDJØOB
C
"CBSDBVOBTGBNJMJBT
B
C
XXXTFNBSOBUHPCNY
5VSRVÓB
5FSGF[JBCPVEJFSJTQQ#PMFUVTTQQ.PSDIFMMB$BOUIBSFMMVT B
DJCBSJVTQBSBMBFYQPSUBDJØOFOB
C
C
4BCSBZ8BMUFS
;JNCBCXF
#PMFUVTFEVMJTQBSBMBFYQPSUBDJØOFOB×P4FDBMDVMBVOB
QBSUJDJQBDJØOEFoSFDPMFDUPSFT
#PBFUBM
BÒPTTFUFOUB#PSHIJDPNVOJDBDJÓOQFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBMXJME
FEJCMFGVOHJJO*UBMZ
-BT FYQPSUBDJPOFT EF NBUTVUBLFT SFCP[VFMPT IPOHPT DPMNFOJMMB Z PUSPT )4$
iFYÓUJDPTuTPOVOFWFOUPNVDIPNÃTSFDJFOUFZEPOEFBOUFSJPSNFOUF'SBODJBFYQPSUBCB
USVGBTB*UBMJBIPZ$IJOBFYQPSUB5VCFSTJOPTVN-PTÙMUJNPTÓBÒPTIBOWJTUP
VODSFDJFOUFNPWJNJFOUPEFSFCP[VFMPTIPOHPTDPMNFOJMMBZCPMFUPTDPNFTUJCMFTEFTEF
FMIFNJTGFSJPTVSIBDJBFMOPSUF&O&VSPQBFMTVNJOJTUSPMPDBMEF)4$OPIBMPHSBEP
JODSFNFOUBSMBEFNBOEBEFiIPOHPTFYÓUJDPTu*MVTUSBDJÓO
&MDSFDJNJFOUPEFMBEFNBOEBIBHFOFSBEPPQPSUVOJEBEFTDPNFSDJBMFTQBSBMPTQBÎTFT
EF &VSPQB EFM FTUF 5VSRVÎB Z .ÊYJDP FOUSF PUSPT &TUBEPT 6OJEPT Z $BOBEÃ IBO
JODSFNFOUBEPMBTFYQPSUBDJPOFTEFVOCVFOOÙNFSPEF)4$BVORVFTPONBZPSNFOUF
BTPDJBEPT B MPT NBUTVUBLFT FOWJBEPT B +BQÓO 3FDVBESP -B EFNBOEB KBQPOFTB EF
NBUTVUBLFTIBQSPEVDJEPFGFDUPTJNQPSUBOUFTFOMPTNFEJPTEFWJEBEFMBTQPCMBDJPOFT
EF"TJBZ/PSUFBNÊSJDB&OMPT$VBESPTZQSPQPSDJPOBNPTVOSFTVNFOEFM
DPNFSDJPNVOEJBMEFNBUTVUBLFT
&MQSFDJPEFMNBUTVUBLFDBNCJBDPOTJEFSBCMFNFOUFEFQFOEJFOEPEFMBTSFDPMFDDJPOFT
BOVBMFT BTJÃUJDB FTUBEPVOJEFOTF Z DBOBEJFOTF -PT CFOFGJDJPT GJOBODJFSPT QBSB MPT
SFDPMFDUPSFT TPO EJGÎDJMFT EF DVBOUJGJDBS BVORVF ZB TF PCTFSWBO MBT TFÒBMFT EF VOB
SJRVF[BFODSFDJNJFOUPFOQBSUFTEF4JDIVBO&O,ZBOCHBFMEJOFSPHBOBEPDPOMBWFOUB
EFNBUTVUBLFTZEF$PSEZDFQTQSPQPSDJPOBFMQPSDJFOUPEFMPTJOHSFTPTFOFGFDUJWP
*NQPSUBODJBQBSBMBQPCMBDJÓOBMJNFOUPTCFOFGJDJPTFDPOÓNJDPTDPNFSDJP
$6"%30
.BUTVUBLFQSPEVDDJØOOBDJPOBMFJNQPSUBDJPOFTB+BQØOoFOUPOFMBEBT
"º0
130%/"$*0/"-
*.1035"$*0/&4
%&*.1035
/"$*0/"-&4&
*.1035"%04
$0/46.0$0.0%&
OE
o
<>
OE
o
<>
OE
o
<>
OE
o
<>
OE
o
<>
-PTQSJNFSPTB×PTFOMPTDVBMFTTFIBOOPUBEPMBTJNQPSUBDJPOFT
OEoEBUPTOPEJTQPOJCMFT-BQSPEVDDJØOOBDJPOBMEFBTFFTUJNBFOVOBTUPOFMBEBTQPSB×P
'VFOUFT -PT EBUPT IBO TJEP UPNBEPT EF WBSJPT BVUPSFT -BT GVFOUFT PSJHJOBMFT QBSFDFO TFS MBT FTUBEÓTUJDBT KBQPOFTBT EF DPNFSDJP
7ÏBTFMPTEBUPTEFBFOXXXGJOUSBDDPN
$6"%30
.BUTVUBLFFYQPSUBDJPOFTB+BQØOEFWBSJPTQBÓTFToFOUPOFMBEBT
1"¶4
#IVUÈO
$BOBEÈ
$IJOB
50/&-"%"4"º0
7"-03%&"º04
.*--0/&4&&66
3FQÞCMJDB1PQVMBS
%FNPDSÈUJDBEF$PSFB
3FQÞCMJDBEF$PSFB
.ÏYJDP
7ÏBTFNÈTBEFMBOUF
.BSSVFDPT
5VSRVÓB
&TUBEPT6OJEPT
5SJDIPMPNBNBUTVUBLF5NBHOJWFMBSFQSPCBCMFNFOUF5DBMJHBUVN4FJODMVZFOGSFTDPTZDPOHFMBEPT
/PUB &M UPOFMBKF EF FYQPSUBDJPOFT EF VOB iCBTF EF EBUPT EFM HPCJFSOP NFYJDBOPw .BSUÓOF[$BSSFSB FU BM TF IB FTDSJUP FO
DVSTJWBJODMVZFOEPEBUPTEFUPOFMBEBTUPOFMBEBT
ZEFUPOFMBEBT
'VFOUFXXXGJOUSBDDPN
8JOLMFS &M FOUVTJBTNP QPS MB SFDPMFDDJÓO MBT KPSOBEBT DMBOEFTUJOBT MBCPSBMFT
MFWBOUÃOEPTFFOMBNBESVHBEBZSFDPMFDUBOEPDPOMJOUFSOBTFO#IVUÃO/BNHZFM
ZMPTOPSBSPTDPOGMJDUPTWJPMFOUPTFOUSFMPTSFDPMFDUPSFT:FI
JOEJDBMBBUSBDDJÓO
QFSDJCJEBQPSMBSFDPNQFOTBGJOBODJFSBQPUFODJBM
-B DBMJEBE EF MPT NBUTVUBLFT BGFDUB DPOTJEFSBCMFNFOUF MPT QSFDJPT PCUFOJEPT QPS
MPTSFDPMFDUPSFT-BTFYQPSUBDJPOFTEFMB3FQÙCMJDBEF$PSFBUJFOFOVOWBMPSBOÃMPHPB
MBTEFMB3FQÙCMJDB1PQVMBS%FNPDSÃUJDBEF$PSFBDVBOEPTFDPNQBSBOFOVOQFSÎPEP
EF DJODP BÒPT $VBESP BVORVF FM WPMVNFO QSPNFEJP EF FYQPSUBDJÓO EVSBOUF FM
NJTNPQFSÎPEPIBZBTJEPTÓMPEFMQPSDJFOUPFOMB3FQÙCMJDB1PQVMBS%FNPDSÃUJDB
EF$PSFB-PTDPNFSDJBOUFTJUBMJBOPTIBOTVNJOJTUSBEPBQPZPUÊDOJDPQBSBNFKPSBSZ
NBOUFOFSMBDBMJEBEEFMBTFYQPSUBDJPOFTEF#PMFUVTFEVMJTFO4FSCJBZIBIBCJEPVOCVFO
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
.BUTVUBLFWBMPSEFMBTFYQPSUBDJPOFTIBDJB+BQØOEFTEFWBSJPTQBÓTFTo
1"¶4
.*--0/&4:&/
.*--0/&4:&/
.*--0/&4:&/
.*--0/&4:&/
.*--0/&4:&/
505"-
.*--0/&4:&/
505"-.*--0/&4
&&66
#IVUÈO
$BOBEÈ
$IJOB
3FQÞCMJDB1PQVMBS
%FNPDSÈUJDBEF
$PSFB
3FQÞCMJDBEF
$PSFB
.ÏYJDP
.BSSVFDPT
5VSRVÓB
&TUBEPT6OJEPT
5PUBM
5PUBMHFOFSBM
NJMMPOFT
&&66
EØMBS &&66 ZFO &O FM UPUBM HFOFSBM TF JODMVZFO WBSJPT QBÓTFT RVF GVFSPO FYQPSUBEPSFT NFOPSFT F JSSFHVMBSFT -PT EBUPT
JODMVZFOMPTNBUTVUBLFTGSFTDPTZDPOHFMBEPT
JODSFNFOUPFOMBTDBOUJEBEFTEFEJOFSPHBOBEBTFOFMÃNCJUPOBDJPOBM#PSHIJ
DPNVOJDBDJÓOQFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBMXJMEFEJCMFGVOHJJO*UBMZ
-PT QSFDJPT QPS LH QBHBEPQPSUSVGBTZNBUTVUBLFTQSPEVDFONVDIPJOUFSÊTQFSP
FTUP OP TF SFGMFKB OFDFTBSJBNFOUF FO MBT DBOUJEBEFT RVF WBO B QBSBS BM CPMTJMMP EF MPT
SFDPMFDUPSFT&TQPTJCMFDPOEVDJSVOBCVFOBWJEBQPSNFEJPEFMBSFDPMFDDJÓOEFUSVGBT
QFSP FM OÙNFSP EF CFOFGJDJBEPT FT SFMBUJWBNFOUF CBKP *MVTUSBDJÓO -B QPCMBDJÓO
SVSBMHBOBDBOUJEBEFTÙUJMFTFOVOCSFWFQFSÎPEPEFUJFNQPDPOMBSFDPMFDDJÓOEFMPT
IPOHPTDPMNFOJMMBTQ.PSDIFMMB
FO*OEJB1SBTBEFUBM
ZFO1BLJTUÃO1BLJTUBO
&DPOPNJTU
QFSPFMDPNFSDJPFO/FQBMZ"GHBOJTUÃOQBSFDFTFSNFOPTMVDSBUJWP
-PTIPOHPTDPMNFOJMMBTPOSFDPMFDUBEPTFOFM)JNBMBZBZMPTSFDPMFDUPSFTQVFEFOHBOBS
VOPTEÓMBSFT&&66BMEÎB-BDBOUJEBEUPUBMEFEJOFSPHBOBEPFOVOBUFNQPSBEB
TJHOJGJDB FM QPS DJFOUP EF MPT JOHSFTPT FO FGFDUJWP QBSB QPCMBEPT 4JOHI Z
3BXBU
ZVOJOHSFTPBOVBMEFEÓMBSFT&&66GVFSFWFMBEPFOPUSPTPOEFP
FGFDUVBEPTPCSFVOBCBTFEFGBNJMJBTFOQPCMBEPT1SBTBEFUBM
&O 5VSRVÎB GVFSPO WFOEJEBT BMSFEFEPS EF UPOFMBEBT EF -BDUBSJVT EFMJDJPTVT
GSFTDPTFOQPCMBEPT$VBESP
&MWBMPSUPUBMBOVBMEFDVBUSPFTQFDJFTTJMWFTUSFT
QSJODJQBMFTSPOEÓMPTEÓMBSFT&&66FTEFDJSVOBGVFOUFFTFODJBMEFJOHSFTPT
MPDBMFT &M QBQFM EF MPT DPNFSDJBOUFT FT JNQPSUBOUF FO FM GPNFOUP EF MPT NFSDBEPT
MPDBMFTZEFMDPNFSDJPJOUFSOBDJPOBM1SPQPSDJPOBOFMUSBOTQPSUFDSÊEJUPTFJODMVTJWF
BQPZPUÊDOJDP.VDIPNÃTJNQPSUBOUFBÙOFTVOBHBSBOUÎBQBSBMBWFOUB5BNCJÊOTF
CFOFGJDJBOGJOBODJFSBNFOUFEFMPTQSFDJPTNÃTBMUPTDVBOEPMPTQSPEVDUPTTPOWFOEJEPT
MPRVFIBQSPEVDJEPVODJFSUPFTDFQUJDJTNP)BSTI3BJZ"ZBDIJ
1FSPTJOMPT
DPNFSDJBOUFTOPFYJTUJSÎBOMPTNFSDBEPTEFFYQPSUBDJÓOZFTUPSFEVDJSÎBFOPSNFNFOUF
MPT CFOFGJDJPT HBOBEPT FO FM ÃNCJUP MPDBM Z OBDJPOBM QPS NFEJP EF MB SFDPMFDDJÓO
DPNFSDJBMEF)4$
-B WFOUB EF QFSNJTPT QBSB MB SFDPMFDDJÓO $BQÎUVMP TFDDJÓO 3FHMBNFOUBS MB
SFDPMFDDJÓO
ZMPTJNQVFTUPTMPDBMFTTPOPUSBTGVFOUFTQPUFODJBMFTEFHBOBODJB)BTJEP
FTUJNBEPRVFTFSFDPMFDUBHFOFSBMNFOUFFMEPCMFEFMBDBOUJEBETQQ5VCFS
SFHJTUSBEB
EVSBOUFVOBUFNQPSBEBEFQSPEVDDJÓO)BMM;BNCPOFMMJZ1SJNBWFSB
$ÃMDVMPT
BOÃMPHPTZNÃTBMUPTIBOTJEPFGFDUVBEPTFOFY:VHPTMBWJBZFOVOÃNCJUPEFFTQFDJFT
DPNFSDJBMNFOUFJNQPSUBOUFT*WBODFWJD
-PTJOHSFTPTQSPWFOJFOUFTEFQFSNJTPT
FJNQVFTUPTOPTJFNQSFFYQSFTBOMBTDBOUJEBEFTEF)4$SFDPMFDUBEPT
-PTCFOFGJDJPTFDPOÓNJDPTQSPEVDJEPTQPSMBSFDPMFDDJÓODPNFSDJBMTPOJODJFSUPT
-B GMVDUVBDJÓO FO MBT DBOUJEBEFT SFDPMFDUBEBT Z MB DPNQFUFODJB EF MPT EFNÃT QBÎTFT
*NQPSUBODJBQBSBMBQPCMBDJÓOBMJNFOUPTCFOFGJDJPTFDPOÓNJDPTDPNFSDJP
$6"%30
7PMVNFOEFMBTFYQPSUBDJPOFTEF)4$EFTEFBMHVOPTQBÓTFTFOUPOFMBEBT
1"¶4
"º0
#0-&564&%6-*4
$"/5)"3&--64
.03$)&--"
&Y:VHPTMBWJBIPZ4FSCJBZ
.POUFOFHSP
BOVBM
OJOHVOB{
OE
1BLJTUÈO
OJOHVOB
OJOHVOB
1BÓTFTCÈMUJDPT-JUVBOJB
OE
OE
*OEJB
1PMPOJB
OE
OE
4VEÈGSJDB
BOVBM
o
OJOHVOB
OJOHVOB
5VSRVÓB
OE
OE
OE
OE
OE
;JNCBCXF
OE
BOVBM
OJOHVOB
/E EBUPT OP EJTQPOJCMFT /JOHVOB OP IBZ FWJEFODJB EF FYQPSUBDJPOFT QFTP FO TFDP -PT EFNÈT EBUPT TF
QSFTVNFOQFTPFOGSFTDP
'VFOUFT1BLJTUBO&DPOPNJTU#PBFUBM(VSFSDPNVOJDBDJØOQFSTPOBM6OQVCMJTIFEUSBEFEBUBPO
XJMEFEJCMFGVOHJGPS5VSLFZ,BVM,SPFHFS1PUUDPNVOJDBDJØOQFSTPOBM&YQPSUPG#PMFUVTFEVMJT
GSPN4PVUI"GSJDB4BCSBZ8BMUFS
QVFEFO QSPEVDJS BNQMJBT PTDJMBDJPOFT FO MPT QSFDJPT QBSUJDVMBSNFOUF EF MBT USVGBT Z
EF MPT NBUTVUBLFT -B DBMJEBE EFM QSPEVDUP SFDPMFDUBEP FT JNQPSUBOUF UBNCJÊO Z FT
VO NPEP TFODJMMP EF NBYJNJ[BS MBT FOUSBEBT Z MB BUFODJÓO EF MPT SFDPMFDUPSFT B FTUF
UJQP EF EFUBMMFT &M DSFDJFOUF TVNJOJTUSP EF SFCP[VFMPT BM 3FJOP 6OJEP EVSBOUF MPT
BÒPT OPWFOUB IB SFEVDJEP FM QSFDJP BM QPS NBZPS BM QPS DJFOUP EF TV WBMPS JOJDJBM
BQSPYJNBEBNFOUF-JWFTFZDPNVOJDBDJÓOQFSTPOBM*NQPSUPGXJMEFEJCMFGVOHJ
UP UIF 6,
BVORVF FM JODSFNFOUP EFM WPMVNFO FYQPSUBEP QPS 1PMPOJB $VBESP IBZBBVNFOUBEPMPTJOHSFTPTUPUBMFT
&OTFOUJEPHFOFSBMQPEFNPTBGJSNBSRVFIBZQPDBTQFSTPOBTRVFTFHBOBOMBWJEB
ÙOJDBNFOUFDPOMBSFDPMFDDJÓOEFMPT)4$/PIBZFWJEFODJBTEFSFDPMFDDJÓODPNFSDJBM
%ZLFZ/FXUPO
RVFSFTQBMEFOVOJOHSFTPIJQPUÊUJDPEFVOPTNJMMPOFTEF
EÓMBSFT&&66QSPEVDJEPQPSVOFTGVFS[PMBCPSBMEFVOBTFNBOBFOFM3FJOP6OJEP
3PUIFSPF &M HSFNJP DPNFSDJBM EF )4$ IB HBOBEP FO NVDIPT QBÎTFT TJO
FNCBSHPHSBOEFTDBOUJEBEFTEFEJOFSP-B3FQÙCMJDB1PQVMBS%FNPDSÃUJDBEF$PSFB
HBOÓNJMMPOFTEFEÓMBSFT&&66QPSNFEJPEFMBTFYQPSUBDJPOFTEFNBUTVUBLFT
B+BQÓOEVSBOUFVOQFSÎPEPEFDJODPBÒPT$VBESP
4POOFDFTBSJPTFTUVEJPTNÃT
EFUBMMBEPTQBSBFYBNJOBSDÓNPTFCFOFGJDJBOMPTSFDPMFDUPSFTEFFTUFDPNFSDJP
-PT EBUPT QPDP VOJGPSNFT TPCSF FM WPMVNFO EF FYQPSUBDJPOFT EF MBT FTQFDJFT
DPNFSDJBMFT GVOEBNFOUBMFT SFWFMBO RVF TPO JNQMJDBEBT SFMBUJWBNFOUF QFRVFÒBT
DBOUJEBEFT$VBESP
1PMPOJBFYQPSUÓBMSFEFEPSEFUPOFMBEBTEFSFCP[VFMPT
FOMBFY6OJÓO4PWJÊUJDBBMSFEFEPSEF5VSRVÎBFYQPSUÓUPOFMBEBTEF
#PMFUVT FEVMJT FO NJFOUSBT *OEJB 1BLJTUÃO /FQBM "GHBOJTUÃO Z QPTJCMFNFOUF
*SÃOSFDPMFDUBOUPOFMBEBTEFIPOHPTDPMNFOJMMBGSFTDPTFOVOBÒP-PTCFOFGJDJPT
BMPTNFEJPTEFWJEBTPOJNQPSUBOUFTZNBZPSFTDBOUJEBEFTEFQFSTPOBTFO[POBTNÃT
FYUFOTBTDBEBEÎBHBOBOCVFOBTDBOUJEBEFTEFEJOFSP
&MDPNFSDJPNVOEJBMEFIPOHPTDVMUJWBEPT
)BIBCJEPVOJODSFNFOUPTPSQSFOEFOUFFOMBQSPEVDDJÓONVOEJBMEVSBOUFMPTÙMUJNPT
EJF[BÒPT$VBESP
&OMPTTIJJUBLF-FOUJOVMBFEPEFT
ZMBTFTQFDJFT1MFVSPUVT
TPCSFQBTBSPOFMWBMPSEFWFOUBTEFMPT"HBSJDVTCJTQPSVTVOIPOHPBQFUFDJEPNÃTQPS
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
TVGPSNBRVFQPSTVTBCPS6ODÃMDVMPNVOEJBMEFQSPEVDDJÓOQBSBFMBÒPCBTBEP
FOMPTEBUPTEFDPMPDBFMWBMPSNVOEJBMEFMPTIPOHPTDVMUJWBEPTFOVOPTNJM
NJMMPOFTEFEÓMBSFT&&66MPRVFTVQFSBFMWBMPSEFNVDIPTPUSPTQSPEVDUPT
&M DPNFSDJP EF )4$ Z MPT OFHPDJPT DPO MBT FTQFDJFT DVMUJWBEBT TF IBO FYQBOEJEP
FOPSNFNFOUF $BOUJEBEFT DPOTJEFSBCMFT EF FTQFDJFT TJMWFTUSFT Z DVMUJWBEBT TF WFOEFO
FOFMDPNFSDJP*MVTUSBDJÓO
-BTWFOUBTEF)4$TFIBOJODSFNFOUBEPFOPSNFNFOUF
QBSBMFMBNFOUFBMJODSFNFOUPEFMBTFTQFDJFTDPNFSDJBMFTWFOEJEBTFOFM3FJOP6OJEP&O
$IJOBMPTDPNQSBEPSFTIBONBOJGFTUBEPQSFGFSFODJBQPSMBTFTQFDJFTTJMWFTUSFTEVSBOUF
MBUFNQPSBEBFOWF[EFMPTIPOHPTDVMUJWBEPTRVFTPOEJTQPOJCMFTEVSBOUFUPEPFMBÒP
1SJFTUDPNVOJDBDJÓOQFSTPOBM&EJCMFBOENFEJDJOBMGVOHJJO$IJOBBOEHFOFSBM
JOGPSNBUJPO
-PTIPOHPTDVMUJWBEPTTPOIPZFOEÎBMBNBZPSFYQPSUBDJÓOiWFHFUBMuFO$IJOBZ
FYJTUFODBOUJEBEFTJNQPSUBOUFTEFQSPEVDUPSFTFOQFRVFÒBFTDBMBFOQBÎTFTUBMFTDPNP
7JFU/BNF*OEPOFTJB(VOBXBO
$IJOBZ7JFU/BNFYQPSUBOIPOHPTDVMUJWBEPT
B&VSPQB*MVTUSBDJÓO
*-6453"$*»/
-04)0/(04$0.&45*#-&4&/«'3*$"
'PUPTEFMB3FQÙCMJDB6OJEBEF5BO[BOÎBQPS.BSKB)ÅSLÕOFO)BSSZ&WBOTMBTEF(IBOB-BTEFNÃTGPUPTTPO
EF&SJD#PB
%FS
"PSJMMBTEFMPT
DBNJOPTEFQFOFUSBDJÓOVO
QVFTUPEFWFOUBDPNÙOFO
.BMBXJ-PTDPNFSDJBOUFT
SBSBNFOUFWBOIBTUBMPT
NFSDBEPTZMPTSFDPMFDUPSFT
UJFOFORVFJSBFTUPTQVFTUPT
TJEFDJEFOOPWFOEFSQPSTV
QSPQJBDVFOUB
*[R
$POTUSVJEPTDPO
IPKBTTFDBTEF6QBDBFTUPT
DFTUPTTPOVTBEPTQBSBDPOUFOFS
MPTIPOHPTTFDPTZIPSUBMJ[BT
EFIPKBT
SFDPMFDUBEPTFOMPT
CPTRVFT.BMBXJ
"SSJCB
-JNQJBOEPFMQSPEVDUP
EFVOBSFDPMFDDJÓO5FSNJUPNZDFT
3FQÙCMJDB6OJEBEF5BO[BOÎB
*[R
6OSFDPMFDUPSSFHSFTBDPO
TVDPTFDIBNBUVUJOB.BMBXJ
%FS
$PDJOBOEP$BOUIBSFMMVT
&TUFIPOHPHVJTBEPFTDPNJEP
HFOFSBMNFOUFDPOBWFOBEFNBÎ[P
ZVDB3FQÙCMJDB6OJEBEF5BO[BOÎB
"SSJCB
-PTIPOHPTTJMWFTUSFT
DPNFTUJCMFTUBNCJÊOTFWFOEFOTFDPT
3FQÙCMJDB6OJEBEF5BO[BOÎB
*[R
-MFWBOEPMPT5FSNJUPNZDFT
BMNFSDBEPMPDBMFO(IBOB
%FS
&YDBWBOEPDVJEBEPTBNFOUF
5FSNJUPNZDFTFOMB3FQÙCMJDB6OJEB
EF5BO[BOÎB$PNQBSFFMUBNBÒPDPO
MBTFTQFDJFTEF(IBOB
*-6453"$*»/
-04)0/(04$0.&45*#-&4&/".²3*$"-"5*/":&-$"3*#&
-BGVFSUFUSBEJDJÓOEFSFDPMFDDJÓOZDPOTVNPEF)4$TFFYUJFOEFEFTEF.ÊYJDPIBTUB(VBUFNBMBZMVFHPQBSFDFJOUFS
SVNQJSTFSFQFOUJOBNFOUF4ÓMPIBZVOSFHJTUSPRVFBRVÎJMVTUSBNPT
TPCSF#PMJWJB&OMB[POBEFM$BSJCFUBNCJÊOFT
BVTFOUFMBUSBEJDJÓOEFDPOTVNPEF)4$BVORVFSFDPSEBNPTEFOVFWPRVFMPTIBJUJBOPTDPOTVNFOSFHVMBSNFOUFFM
EKPOEKPOEPOEFRVJFSBRVFWBZBO-BTGPUPTEF(VBUFNBMBTPOEF3PCFSUP'MPSFTMBTEF/VFWB:PSLEF(FOF:FUUFS
ZMBGFSJBEFIPOHPT0BYBDBEF'BCSJDF&EVBSEMPTWFOEFEPSFTEF&MBJOF.BSTIBMM#PMJWJBEF&SJDL#PB
'FSJBTEFIPOHPTQBSBMFWBOUBSDPODJFODJBEFMBTFTQFDJFT
DPNFTUJCMFT0BYBDB.ÊYJDP
.FSDBEPMPDBMEF0BYBDB.ÊYJDPMPT)4$TFFYIJCFOB
MBEFSFDIBy"NBOJUBT ZBMGSFOUFEFMBWFOEFEPSB
.FSDBEPEF1BU[ÙO(VBUFNBMB
7FOEFEPSBBPSJMMBTEFMDBNJOPEF
-BDUBSJVTEFMJDJPTVTZ-*OEJHPTFOWFOUB QFOFUSBDJÓO(VBUFNBMBDPO-BDUBSJVT
FOMBNBOPZFOFMDFTUP
EFMJDJPTVTZ"NBOJUBTDBMJQUSPEFSNBT
-BTDPNVOJEBEFTIBJUJBOBTFOUPEPFMNVOEPDPNQSBO
BNFOVEPEKPOEKPOFTQFDJFEFMBGBNJMJB1TBUIZSFMMB/VFWB
:PSL
(SFHPSJBFSBMBÙOJDBWFOEFEPSB
EFLBMMBNQBOPNCSF2VFDIVBEFMPT
-FVDPBHBSJDVTIPSUFOTJT
FOFMNFSDBEP
EF$PDIBCBNCB#PMJWJB
-PTEKPOEKPOGSFTDPTTPODVMUJWBEPTFO)BJUÎZ
FYQPSUBEPTB&TUBEPT6OJEPT$BOBEÃZPUSPTQBÎTFT
#SPPLMZO/VFWB:PSL
*-6453"$*»/
-04)0/(04$0.&45*#-&4&/"4*"
-BTGPUPTEF#IVUÃOTPOEF"MFYBOESB;BNCPOFMMJMBTEF7JFU/BNZ,VONJOHEF.BSJB$IBNCFSMBJO
MBTEFMTVEFTUFEF$IJOBEF.BSKB)ÅSLÕOFOMBTEFNÃTGPUPTEF$IJOBTPOEF8BSSFO1SJFTU
"SSJCB
1SFQBSBDJÓOEFNBU
TVUBLFTQBSBMBFYQPSUBDJÓOB+BQÓO
EFTEF#IVUÃO-BDVBMJEBEUJFOFVOB
JNQPSUBODJBGVOEBNFOUBMFOMPTQSF
DJPTPCUFOJEPT
*[R
.BUTVUBLF5SJDIPMPNB
NBUTVUBLF
#IVUÃO
%FS
7FOEJFOEPFTQFDJFT
$BOUIBSFMMVTZ3BNBSJBFOMBNBOP
5IJNQV#IVUÃO
$VMUJWBDJÓOEF"HBSJDVTCJTQPPSVT $FTUBEFVOSFDPMFDUPSBMOPSUFEF (SBODBOUJEBEEF)4$WFOEJEPTFO
1PLIBSB/FQBM1BUSPDJOBEBQPSQSPZFD 7JFU/BN
TBMNVFSB$IFOHEV$IJOB
UPEFBZVEBKBQPOÊT
"SSJCB
-ZPQIZMMVNEFDBTUFTFO
WFOUBFO,VONJOH$IJOB
*[R
-PT5FSNJUPNZDFTTPOVO
CVFOBMJNFOUPQBSBMPTOJÒPTEFM
DPOEBEPEF)BOZVBO4JDIVBO$IJOB
%FS
6OSFDPMFDUPSEFMTVSEF
$IJOB
%FTBSSPMMBSFMQPUFODJBM
QPTJCJMJEBEFTBDDJPOFTPQPSUVOJEBEFT
)&$)04$-"7&
-BTQSJODJQBMFTDBSBDUFSÎTUJDBTEFMPT)4$CBTBEPTFOFTUBQSJNFSBWBMPSBDJÓOHFOFSBM
TPO
x FTQFDJFTEFIPOHPTTJMWFTUSFTDBUBMPHBEBTTPODPNFTUJCMFTZFTUFMJCSP
IBUPNBEPFODVFOUBFTQFDJFTVTBEBTDPNPBMJNFOUPDPOBMNFOPTPUSBT
FTQFDJFTSFDPOPDJEBTDPNPiBMJNFOUPuEFMBTRVFBÙOIBDFOGBMUBMBTFWJEFODJBT
x FTQFDJFTUJFOFOQSPQJFEBEFTNFEJDJOBMFTEFMBTDVBMFTOPTPODPOTVNJEBT
ZOPTFDPOTJEFSBODPNFTUJCMFTPUSBTFTQFDJFTUJFOFOPUSBTQSPQJFEBEFTZVTPT
QBSBMBQPCMBDJÓOQPSFKFNQMPSFMJHJPTPDPNPIPOHPTZFTRVFSPTFUD
x TPOSFDPMFDUBEPTDPOTVNJEPTZWFOEJEPTFONÃTEFQBÎTFTEFUPEPFMNVOEP
x MBDBOUJEBEHMPCBMSFDPMFDUBEBDBEBBÒPFTEFWBSJPTNJMMPOFTEFUPOFMBEBTDPOVO
WBMPSNÃYJNPRVFSPOEBMPTNJMNJMMPOFTEFEÓMBSFT&&66
-PT NBZPSFT CFOFGJDJPT Z DBSBDUFSÎTUJDBT EF MPT )4$ DPNP TF EFCBUF FO MPT
$BQÎUVMPTZTPO
x TPO VOB WBMJPTB GVFOUF EF OVUSJNFOUP DPO DPSSFTQPOEJFOUFT CFOFGJDJPT QBSB MB
TBMVE
x TPOVOBGVFOUFJNQPSUBOUFEFCFOFGJDJPTFDPOÓNJDPTQBSBMBTDPNVOJEBEFTZQBSB
MBTFDPOPNÎBTOBDJPOBMFT
x MBTFTQFDJFTQSJODJQBMFTTPOFDUPNJDPSSÎ[JDBTZBZVEBOBTPTUFOFSFMDSFDJNJFOUPEF
MPTÃSCPMFTZMBTBMVEEFMPTCPTRVFT
x TPO FTQFDJBMNFOUF WBMJPTPT QBSB MBT QPCMBDJPOFT SVSBMFT EF MPT QBÎTFT FO
EFTBSSPMMP
3&453*$$*0/&4(&/&3"-&4
(SBO QBSUF EFM USBCBKP PSJHJOBM TPCSF MPT )4$ TF IB DPODFOUSBEP FO MPT BTQFDUPT
NJDPMÓHJDPT P DJFOUÎGJDPT Z BVORVF RVFEB UPEBWÎB NVDIP QPS IBDFS MBT MBHVOBT NÃT
JNQPSUBOUFT FO MB JOGPSNBDJÓO Z FO FM DPOPDJNJFOUP DPODJFSOFO MPT BTQFDUPT TPDJBMFT
ZFDPOÓNJDPTEFTVVTP4FDPOPDFQPDPBDFSDBEFMPTSFDPMFDUPSFTZEFMBTQSÃDUJDBT
EFSFDPMFDDJÓOQPSFKFNQMPPMBJNQPSUBODJBSFMBUJWBEFMPT)4$DPNQBSBEBDPOMBT
GVFOUFTBMUFSOBUJWBTEFBMJNFOUPPEFCFOFGJDJPTFDPOÓNJDPT-BQSPEVDDJÓOTPTUFOJCMF
EF)4$OPFTTPMBNFOUFVOBGPSNBEFNBYJNJ[BSFMSFOEJNJFOUPTJOPFMSFFRVJMJCSJP
EFMPTSFDVSTPTDPOMPTEFNÃTVTPTZVTVBSJPTEFCPTRVFT
" QFTBS EF MBT MBHVOBT JNQPSUBOUFT FO FM DPOPDJNJFOUP FT GVOEBNFOUBM FOGBUJ[BS
UBNCJÊORVFTFIBOQSPEVDJEPBWBODFTJNQPSUBOUFTFOMBEFTDSJQDJÓOEFMPTBTQFDUPT
EFMBSFDPMFDDJÓODPNFSDJBMFOWBSJPTQBÎTFT)BZVOBFOPSNFDBOUJEBEEFJOGPSNBDJÓO
QVCMJDBEB QPS &TUBEPT 6OJEPT Z $BOBEÃ QPS FKFNQMP Z MPT JOWFTUJHBEPSFT DIJOPT
UBNCJÊOIBOTVNJOJTUSBEPTOVFWPTQVOUPTEFSFGMFYJÓOTPCSFFMVTPEFMPT)4$RVF
EFNVFTUSBO TV JNQPSUBODJB HFOFSBMJ[BEB &O ¦GSJDB DFOUSBM EFM TVS Z SFDJFOUFNFOUF
PSJFOUBM MPT QSPZFDUPT EF EFTBSSPMMP IBO FYQMPSBEP FM VTP MPDBM EF )4$ NJFOUSBT
MPT QSPHSBNBT OBDJPOBMFT FO .ÊYJDP Z 5VSRVÎB IBO TPTUFOJEP MPT QSPHSBNBT EF
JOWFTUJHBDJÓOMPDBMEVSBOUFHSBOEFTQFSÎPEPTEFUJFNQP
)PZ FO EÎB FT BQSPQJBEP EFGJOJS MPT BSHVNFOUPT NÃT JNQPSUBOUFT RVF OFDFTJUBO
VMUFSJPSJOWFTUJHBDJÓO-BTTJHVJFOUFTTFDDJPOFTEFCBUFOMBTQSJPSJEBEFTEFJOWFTUJHBDJÓO
-PT)POHPT4JMWFTUSFT$PNFTUJCMFT1FSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
TPCSF MB NJDPMPHÎB EJFUB FDPMPHÎB NJDÓUJDB NJDPSSJ[BT
Z BMNBDFOBNJFOUP Z TPCSF
DÓNP FGFDUVBS VO NFKPS VTP EF MB QSPEVDDJÓO BOVBM &TUBT TPO MBT ÃSFBT DMBWF FO MBT
DVBMFT TF OFDFTJUB NÃT JOGPSNBDJÓO )BZ NVDIBT QSFHVOUBT TPCSF MB NFKPS GPSNB EF
BENJOJTUSBS MPT )4$ Z EF MPHSBS VOB QSPEVDDJÓO TPTUFOJCMF Z FTUF UFNB TF FYBNJOB
EFUBMMBEBNFOUFFOMBTTFDDJPOFTTJHVJFOUFT&OFM$VBESPTFSFTVNFOMPTBSHVNFOUPT
QSJODJQBMFTSFMBDJPOBEPTZTFEJTDVUFOUFOJFOEPFODVFOUBMBSFDPMFDDJÓODPNFSDJBMZMPT
VTPTQBSBMBTVCTJTUFODJB
&OMPT$VBESPTZTFUSBUBEFEFTBSSPMMBSVOFOGPRVFQSÃDUJDPBMBHFTUJÓORVF
TFSÃ VUJMJ[BEP QPS MPT SFTQPOTBCMFT EF HFTUJÓO GPSFTUBM -BT EPT JORVJFUVEFT DPNVOFT
FO MB FYQMPSBDJÓO EF MB DBOUJEBE UPUBM EF )4$ TPO VO FTDBTP DPOPDJNJFOUP EF MBT
BDUJWJEBEFTBDUVBMFTZMBGBMUBEFEBUPTGJEFEJHOPT
13*03*%"%&4&/-"*/7&45*("$*»/-04)0/(044*-7&453&4$0.&45*#-&4
-BJEFOUJGJDBDJØOEFMBTFTQFDJFT
-BNJDPUBUSPQJDBMTFDPOPDFNVZQPDPZMPTDJFOUÎGJDPTIBOFYQSFTBEPJORVJFUVEFTTPCSF
FMFTUBEPJODPNQMFUPEFTVDPOPDJNJFOUPUBYPOÓNJDP.FJKFS
4FIBMPHSBEPVO
QSPHSFTPBDFQUBCMFFOMBEFOPNJOBDJÓOEFMBTOVFWBTFTQFDJFTEFNBDSPNJDFUPTQFK
7FSCFDLFO FU BM "GZPO Z NJFOUSBT UPEBWÎB IBZ NVDIP RVF IBDFS OP
IBZ FWJEFODJBT PCWJBT EF RVF FTUBT MBHVOBT FO FM DPOPDJNJFOUP UBYPOÓNJDP FTUÊO
MJNJUBOEPFMVTPEFMPT)4$-BTDMBTJGJDBDJPOFTMPDBMFTTPOVOBHVÎBÙUJMEFMBTFTQFDJFT
iDPNFTUJCMFTuZiOPDPNFTUJCMFTuRVFQVFEFOTFSWFOFOPTBTPOP
-BTJOWFTUJHBDJPOFT
DJFOUÎGJDBTQVFEFOBZVEBSBEFGJOJSDPODMBSJEBEMBDPNFTUJCJMJEBEEFMBTFTQFDJFTZTPO
TJFNQSFVOBJOGPSNBDJÓOÙUJMVMUFSJPSTPCSFMBJEFOUJGJDBDJÓOEFMPTNBDSPNJDFUPT
-B SFOVFODJB BM DPOTVNP EF )4$ TJFNQSF TF CBTB FO FM UFNPS EF DPNFS IPOHPT
WFOFOPTPT Z FTUP MJNJUB FM VTP EF MBT FTQFDJFT DPNFTUJCMFT Z UBNCJÊO MPT JOUFOUPT EF
FYQBOEJSMPTNFSDBEPTMPDBMFT-PXPSFZ#PB
&OUPEB¦GSJDBEFMTVSMPT#PMFUVT
FEVMJTTFSFQSPEVDFOFOMBTQMBOUBDJPOFTEFQJOPTQFSPOPTFDPOTVNFOFOMBMPDBMJEBE
6OB QVCMJDJEBE BQSPQJBEB Z FM GPNFOUP QPS QBSUF EF MBT BVUPSJEBEFT SFDPOPDJEBT
BZVEBSÃBTVQFSBSFTUFUFNPSQFSPTPOOFDFTBSJPTFTGVFS[PTDPOKVOUPTQBSBDBNCJBSFTUF
UFNPSQSPGVOEBNFOUFBSSBJHBEPQPSMPTIPOHPTTJMWFTUSFT-PTFTGVFS[PTMPDBMFTQBSBMB
QSPNPDJÓOEFMPT)4$FTUÃONFKPSDPODFOUSBEPTFOMBTÃSFBTEPOEFZBTFDPOTVNFO
4FOFDFTJUBBNQMJBNFOUFEFHVÎBTTFODJMMBTMPDBMFTRVFJMVTUSFOMBTFTQFDJFTDPNFTUJCMFT
ÙUJMFTEFDBEBSFHJÓO-BTHVÎBTEFDBNQPJOUFHSBMFTTPONVDIPNÃTÙUJMFTQFSPTPONÃT
DPTUPTBTZTVQSPEVDDJÓOFTNÃTDPNQMJDBEB-BTHVÎBTEFFTQFDJFTDPNFTUJCMFTOPTPO
QPSTÎNJTNBTTVGJDJFOUFTOFDFTJUBOTFSBQPZBEBTQPSDBNQBÒBTQÙCMJDBTRVFUSBUFOEF
USBORVJMJ[BS B MB HFOUF TPCSF MBT FTQFDJFT RVF TF QVFEFO DPOTVNJS FO UPEB TFHVSJEBE
-BT iBVUPSJEBEFT SFDPOPDJEBTu TPO UBOUP MPT DJFOUÎGJDPT RVF QVFEFO JEFOUJGJDBS MPT
NBDSPNJDFUPTDPNPMBHFOUFEFMMVHBSDPOIBCJMJEBEFTBOÃMPHBTBERVJSJEBTQPSNFEJP
EFMBFYQFSJFODJBFOMPRVFTFSFGJFSFBMPTIPOHPTRVFTFQVFEFODPOTVNJSDPOUPEB
TFHVSJEBEZBMBTUSBEJDJPOFTMPDBMFT
4JUVBDJØOOVUSJDJPOBM
-PT CFOFGJDJPT OVUSJDJPOBMFT EF MPT )4$ OP IBO TJEP FYQMPSBEPT UPUBMNFOUF -B
JOGPSNBDJÓOQVCMJDBEBFTEFDBMJEBEWBSJBCMFZMPTQSPDFEJNJFOUPTEFBOÃMJTJTOFDFTJUBO
TFS FTUBOEBSEJ[BEPT #SFFOF &M OÙNFSP EF FTQFDJFT TJMWFTUSFT RVF IBO TJEP
BOBMJ[BEBTFTUPEBWÎBSFEVDJEPZTFTBCFQPDPEFMBTEJGFSFODJBTFOUSFFTQFDJFTRVFTFEB
FOMPTEJGFSFOUFTQBÎTFTQPSFKFNQMPMPT$BOUIBSFMMVTZMPT#PMFUVTFEVMJT4FOFDFTJUB
JOWFTUJHBDJÓOTPCSFMBTFTQFDJFTRVFUJFOFOVONBZPSQPUFODJBMEFNFSDBEPZTFEFCFSÎB
IBDFS FTGVFS[PT QBSB TVCSBZBS MBT QSPQJFEBEFT OVUSJDJPOBMFT Z MBT WFOUBKBT .VDIBT
QPCMBDJPOFT KV[HBO MPT WBMPSFT EJFUÊUJDPT EF MPT IPOHPT DPO QPDPT DPOPDJNJFOUPT
EF TVT WFSEBEFSBT QSPQJFEBEFT CVTRVF NÃT JOGPSNBDJÓO FO FM $BQÎUVMP TFDDJÓO
$PNFTUJCJMJEBEZIPOHPTWFOFOPTPTZFOFM$BQÎUVMPTFDDJÓO/VUSJDJÓOZCFOFGJDJPT
QBSBMBTBMVE
%FTBSSPMMBSFMQPUFODJBMQPTJCJMJEBEFTBDDJPOFTPQPSUVOJEBEFT
.JDPSSJ[B
-BT SFMBDJPOFT FOUSF MPT )4$ Z MPT ÃSCPMFT TPO NVZ DPOPDJEBT FO MBT FTQFDJFT
FDPOÓNJDBNFOUFJNQPSUBOUFTUBMFTDPNPMPT#PMFUVT5VCFSZ$BOUIBSFMMVTRVFGPSNBO
NJDPSSJ[BTDPONVDIBTFTQFDJFTBSCÓSFBTFOMPTQBÎTFTUSPQJDBMFT)BZVOBDBOUJEBEEF
JOGPSNBDJÓOFODPOUJOVPDSFDJNJFOUPTPCSFNVDIBTPUSBTBTPDJBDJPOFTFOUSFMPTIPOHPT
DPNFTUJCMFTZMPTÃSCPMFTQFSPOPIBOTJEPQSPDFTBEBTFOGPSNBEFCBTFTEFEBUPTQPS
FKFNQMPRVFQPESÎBOQFSNJUJSJOWFTUJHBDJPOFTQSFWJTJCMFT-BTJOWFTUJHBDJPOFTTPCSFMPT
NBUTVUBLFTFO"TJBGVFSPODPBEZVWBEBTQPSFMDPOPDJNJFOUPEFTVTÃSCPMFTBOGJUSJPOFT
/BNHZFM
ZFTUFFOGPRVFBZVEBSÎBFOMBQFSTQFDUJWBEFPUSPT)4$&MDPOPDJNJFOUP
TPCSFMBTBTPDJBDJPOFTNJDPSSÎ[JDBTEFMBTFTQFDJFTDPNFTUJCMFTEF"NBOJUBT-BDUBSJVTZ
3VTTVMBTFTUÃDSFDJFOEPTÓMJEBNFOUFQFK7FSCFDLFOZ#VZDL
1PUFODJBMNFOUF IBZ HSBOEFT ÃSFBT EF CPTRVFT EF NJPNCP FO .BMBXJ RVF OP TPO
BDDFTJCMFTQBSBMPTSFDPMFDUPSFTMPDBMFTRVFUSBCBKBOBQJFZVONFKPSDPOPDJNJFOUPTPCSF
MBTFTQFDJFTNJDPSSÎ[JDBTRVFDSFDFODPOEFUFSNJOBEBTFTQFDJFTBSCÓSFBTQPESÎBBZVEBS
BJEFOUJGJDBSMBTÃSFBTQSPEVDUJWBT&OUÊSNJOPTHFOFSBMFTVOBCBTFEFEBUPTTPCSFMBT
BTPDJBDJPOFTNJDPSSÎ[JDBTSFMBDJPOBOEPMBTFTQFDJFTBMPTÃSCPMFTBOGJUSJPOFTBZVEBSÎBB
MPTQMBOJGJDBEPSFTZBMPTSFTQPOTBCMFTEFMBHFTUJÓOGPSFTUBM-BTCBTFTEFEBUPTQPESÎBO
OFDFTJUBSJOEJDBSEFRVÊGPSNBTFIBFTUBCMFDJEPFTUBBTPDJBDJÓO-BTSFMBDJPOFTGÎTJDBT
FOUSFMPTNBDSPNJDFUPTZMPTÃSCPMFTGVFSPOSFMBUJWBNFOUFGÃDJMFTEFUSB[BSEVSBOUFVO
CSFWFFKFSDJDJPFO.BMBXJ*MVTUSBDJÓO
ZMPTUSBCBKPTQVCMJDBEPTZBIBODPOGJSNBEP
FTUBTBTPDJBDJPOFT*ODMVTPBGJSNBDJPOFTUBMFTDPNPiDSFDÎBFOBTPDJBDJÓODPOuQPESÎBO
BZVEBSFOFMJOUFOUPEFJEFOUJGJDBSMBTÃSFBTEPOEFQVFEFODSFDFSMPT)4$
&MBMNBDFOBNJFOUP
-PT)4$BNFOVEPUJFOFOVOCSFWFQFSÎPEPEFWJEBEVSBOUFFMDVBMQVFEFOTFSDPOTVNJEPT
%FTQVÊT EF FTUF UJFNQP TF QVESFO P NBSDIJUBO 1VFEFO TFS DPOTFSWBEPT FO VOB HSBO
WBSJFEBEEFGPSNBTQBSBTVVTPQPTUFSJPS"MHVOBTFTQFDJFTTPOTFDBEBTJONFEJBUBNFOUF
Z QPS FKFNQMP FM TBCPS EF MPT #PMFUVT FEVMJT NFKPSB DPO FTUF QSPDFTP *MVTUSBDJÓO -PT SFCP[VFMPT UJFOFO VO QFSÎPEP EF WJEB NBZPS RVF NVDIBT PUSBT FTQFDJFT TJMWFTUSFT
DPNFTUJCMFTMPRVFGPSUBMFDFTVDPNFSDJBCJMJEBE-BTUSVGBTUBNCJÊOTFQVFEFOBMNBDFOBS
NVZCJFOQFSPNVDIPTPUSPTIPOHPTDPNFTUJCMFTTPOBMUBNFOUFQFSFDFEFSPT&O$IJOB
MPTIPOHPTDPNFTUJCMFTTPODPNÙONFOUFQSFTFSWBEPTFOTBMNVFSBZWFOEJEPTFODBKJMMBT
*MVTUSBDJÓO
5BNCJÊOTPOJNQPSUBEPTEFFTUBGPSNBB*UBMJB
-BT UFDOPMPHÎBT QBSB MB DPOTFSWBDJÓO EF MPT )4$ TPO TFODJMMBT QFSP QVFEFO
SFRVFSJS JOWFSTJPOFT EF DBQJUBM &M TFDBEP EF MPT IPOHPT FT NÃT BQSPQJBEP QBSB MPT
VTPTEFTVCTJTUFODJBZQBSBMPTNÊUPEPTTFODJMMPTVTBEPTFO.BMBXJBMNBDFOBEPTFO
DPOUFOFEPSFTOBUVSBMFTIFDIPTDPOIPKBTTFDBTEF6BQBDBLJSLJBOBVOÃSCPMBVUÓDUPOP
ZRVFUJFOFOBQMJDBDJPOFTNÃTBNQMJBT*MVTUSBDJÓO
-B DPOTFSWBDJÓO FO TBMNVFSB EF MPT )4$ UJFOF UBNCJÊO BNQMJBT BQMJDBDJPOFT F
JODSFNFOUBTVTUBODJBMNFOUFTVVTPZWBMPSFO$IJOB&MÊYJUPEFFTUFFOGPRVFEFQFOEF
EF MB EJTQPTJDJÓO EF FRVJQPT Z EF NBUFSJBT QSJNBT QBSB EFTBSSPMMBS FM QSPDFTP EF
QSFTFSWBDJÓO QFSP FT JNQPSUBOUF EFUFSNJOBS QSJNFSP TJ MPT IPOHPT DPNFTUJCMFT FO
TBMNVFSB TPO BDFQUBCMFT QBSB FM NFSDBEP BM RVF TF WB B EJSJHJS /P IBZ FYQFSJFODJB
EF FTUF NÊUPEP FO ¦GSJDB FO MBT DPNVOJEBEFT SVSBMFT QPS FKFNQMP Z TF OFDFTJUBO
JOWFTUJHBDJPOFT EF NFSDBEP BOUFT EF UPNBS FO DVFOUB MB DPOTFSWBDJÓO FO TBMNVFSB B
NBZPSFTDBMB
"VORVFBMHVOPTIPOHPTTPOTFDBEPTFOFMTVSEF¦GSJDB*MVTUSBDJÓO
IBZFTQBDJP
QBSBMBFYQBOTJÓOEFFTUFFOGPRVF4JMPTNÊUPEPTBEFDVBEPTEFTFDBEPOPTPOVTBEPT
UPEBWÎB QPESÎBO TFS BEPQUBEPT PUSPT NÊUPEPT EF PUSBT ÃSFBT EF MB BHSJDVMUVSB QFK
FM TFDBEP EF TFNJMMBT
&T JNQPSUBOUF FO UPEPT FTUPT FTGVFS[PT QBSB JODSFNFOUBS FM
TVNJOJTUSP EF )4$ RVF QSJNFSP TF DPODFOUSFO FO SFHJPOFT EPOEF ZB TPO QPQVMBSFT
ZTFHVOEPRVFDVBMRVJFSOVFWPNÊUPEPEFBMNBDFOBNJFOUPTFEFTBSSPMMFFODPOKVOUP
DPOMBTDPNVOJEBEFTMPDBMFT
-PT)POHPT4JMWFTUSFT$PNFTUJCMFT1FSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
&YJHFODJBTEFJOGPSNBDJØOZBSHVNFOUPTSFMBUJWPTBMVTPTPTUFOJCMFEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFT
"3(6.&/504
3&$0-&$$*»/$0.&3$*"-
6401&340/"-7&/5"4-0$"-&4
&TQFDJFTDVÈMFTTPO
SFDPMFDUBEBT
&MJOUFSWBMPFTQFRVF×PZCJFO
EFGJOJEP-PTDPNQSBEPSFTQPESÓBO
OFDFTJUBSDPOGJSNBDJØOEFMBTFTQFDJFT
FYJTUFONVDIBTNÈTFTQFDJFTUSPQJDBMFT
RVFFVSPQFBTEF$BOUIBSFMMVT-PT
#PMFUVTFEVMJTDIJOPTUJFOFOVOTBCPS
NVZEJGFSFOUFEFMPTFVSPQFPT
&MJOUFSWBMPEFFTQFDJFTFTNVDIPNBZPSBVORVFOP
UPEBTTPOEFJHVBMJNQPSUBODJB-PTOPNCSFTMPDBMFT
QVFEFOTFSÞUJMFTTJIBZEJGJDVMUBEFTFOMBEFOPNJOBDJØO
EFMBTFTQFDJFT/PUFMBJNQPSUBODJBFOMBBGJSNBDJØOEF
RVFMPTIPOHPTDPNFTUJCMFTBDUVBMNFOUFTPODPOTVNJEPT
iBMJNFOUPw
%F,FTFM$PEKJBZ:PSPV#FOJO
)BMMFUBMJOUSPEVDDJØOHFOFSBM
3FDPMFDUPSFT
RVJÏOFTTPO
1VFEFOTFSEFMBMPDBMJEBEPEFGVFSB
)BZDPOGMJDUPTFOMPTHSVQPTRVF
EFQFOEFOEFMWBMPSEFMBTFTQFDJFT
RVFTFFTUÈOSFDPMFDUBOEP%FCFSÓB
TFSFTUBCMFDJEBMBJNQPSUBODJBEFMPT
JOHSFTPTFDPOØNJDPTHBOBEPTQPSMPT
SFDPMFDUPSFT
1SJODJQBMNFOUFQBSBVTPTEFTVCTJTUFODJBZUBNCJÏO
DPNPQBTBUJFNQPFOFM/PSUF-PTVTPTQBSBMB
TVCTJTUFODJBDBNCJBOBNQMJBNFOUFFOTVTDBSBDUFSÓTUJDBT
FDPOØNJDBTZTPDJBMFTMPRVFOFDFTJUBSÈFTUVEJPT
DVJEBEPTPT
.D-BJO$ISJTUFOTFOZ4IBOOPO64"-PXPSFZ
#PB.BMBXJ
)ÊSLÚOFOFUIOJDHSPVQTJO
'JOMBOE
3FDPMFDDJØORVÏ
DBOUJEBEZDVÈM
JNQBDUP
&MBMJDJFOUFEFMPTBMUPTQSFDJPTQVFEF
MMFWBSBMVTPEFNÏUPEPTEB×JOPT
DPOTDJFOUFPJODPOTDJFOUFNFOUF
&YJTUFVOBDBQBDJUBDJØOPCMJHBUPSJB
FO&&66ZMPTSFDPMFDUPSFTEFUSVGBT
UJFOFORVFBQSPCBSVOFYBNFOFO
*UBMJBQBSBBERVJSJSVOQFSNJTP
-BTSFDPMFDDJPOFTHFOFSBMNFOUFTFEBOFOQFRVF×B
FTDBMBZEFBDVFSEPBMBTMFZFTEFIFDIPFTUBCMFDJEBT
QPSMBDPNVOJEBE4FOFDFTJUBOEBUPTQBSBEFUFSNJOBSFM
WBMPSSFMBUJWPEFMBTSFDPMFDDJPOFTQBSBMBTQPCMBDJPOFT
SVSBMFT&TUFUJQPEFJOGPSNBDJØOHFOFSBMNFOUFFT
FTDBTP.BMZJ#FMBSVT
*WBODFWJD:VHPTMBWJB
-FZFTFMVTPEF
QFSNJTPT
"DDFTPRVJÏOUJFOF
EFSFDIPBSFDPMFDUBS
&OWBSJPTQBÓTFTTFWFOEFOQFSNJTPT
QFSPQVFEFTFSEJGÓDJMTVTFHVJNJFOUPZ
DPOUSPM1PESÓBTFSOFDFTBSJPNPEJGJDBS
MPTFTRVFNBTZSFWJTBSMBTFYQFSJFODJBT
EFPUSPTQBÓTFT
-BTJORVJFUVEFTTFEBONFOPTTPCSFMBTDBOUJEBEFT
SFDPMFDDJPOBEBTRVFTPCSFMBQSFTFODJBHFOFSBM
EFSFDPMFDUPSFTFOMPTCPTRVFTQSPUFHJEPTEBOEP
JNQPSUBODJBBMPTEB×PTBMPTCPTRVFTZFMDSFDJFOUF
SJFTHPEFJODFOEJPTFOBMHVOPTMVHBSFT&&66
1JM[FUBMXJMEFEJCMFGVOHJ64"
7JMMBSSFBMZ1ÏSF[.PSFOP.ÏYJDP
-BSFDPMFDDJØODPNFSDJBMHFOFSBMNFOUF
QSPEVDFVOBJOTQFDDJØOEFUBMMBEBEF
RVJFOUJFOFEFSFDIPEFBDDFTPBMPT
TJUJPT-PTCPTRVFTEFHFTUJØOFTUBUBMP
NVOJDJQBMTPONÈTEJGÓDJMFTEFDPOUSPMBS
DPNQBSBEPTDPOMBTQMBOUBDJPOFT
QSJWBEBT
&MVTPEFCBKBJOUFOTJEBEBTPDJBEPBMBTSFDPMFDDJPOFT
QFSTPOBMFTSBSBNFOUFTFDPNQBSBDPOMBTFYJHFODJBT
HFOFSBMFTTPCSFMBFYUSBDDJØOEFMPT1'/.EFMPT
CPTRVFTQSPUFHJEPTZÈSFBTEFDPOTFSWBDJØO
4JOHIZ3BXBU.PSFMTGSPN*OEJB
:FI.BUTVUBLFJO$IJOB
$PNFSDJPRVJÏO
DPNQSBZWFOEF
)BZVOGVFSUFJNQFSBUJWPFO
MPTTJTUFNBTEFDPNFSDJPQBSB
EFTBSSPMMBSMPTEFGPSNBKVTUBZ
FGFDUJWB4FQJFOTBDPOGSFDVFODJB
RVFMPTJOUFSNFEJBSJPTFYQMPUBO
BMPTSFDPMFDUPSFTQFSPBRVFMMPT
QSPQPSDJPOBODSÏEJUPTVOBDBEFOB
EFEFQFOEFODJBQBSBMBTWFOUBTZMB
TFHVSJEBEEFRVFFMQSPEVDUPMMFHVFB
MPTNFSDBEPT
-PTNFSDBEPTEFMTVSEF«GSJDBTPOQFRVF×PTZBPSJMMBT
EFMPTDBNJOPTEFQFOFUSBDJØOMPRVFMJNJUBMBDBOUJEBE
WFOEJEB&MDPNFSDJPMPDBMFTBFONFOPSFTDBMBZ
SFMBUJWBNFOUFTFODJMMP
-PXPSFZ#PB.BMBXJ
/BNHZFM#IVUÈO
3FOEJNJFOUPTZ
QSPEVDUJWJEBE
DBOUJEBEFT
-BBNFOB[BQPUFODJBMRVFTVSHFEF
VOBDVMUJWBDJØOJOTPTUFOJCMFQVFEF
TFSEFUFSNJOBEBQPSNFEJPEF
VODPOPDJNJFOUPEFUBMMBEPEFMPT
SFOEJNJFOUPTZEFMBQSPEVDUJWJEBEFO
QFSÓPEPTEFWBSJPTB×PT
&MSFOEJNJFOUPBZVEBBFWBMVBSFMQPUFODJBMEF
DPNFSDJBMJ[BDJØOEFMPTNFSDBEPTMPDBMFT7MBEZTIFWTLJZ
-BMFUJOZ7MBEZTIFWTLJZ'FEFSBDJØOEF3VTJB
,VKBMB'JOMBOEJB
.FSDBEPT
DBOUJEBEFT
DPNFSDJBMJ[BEBT
FYQPSUBDJPOFT
$IJOBUJFOFVONFSDBEPiJOUFSOPwEF
FYQPSUBDJØOTVTUBODJBMDPOHSBOEFT
DBOUJEBEFTQSPWFOJFOUFTEFMPTCPTRVFT
BMBTQSJODJQBMFTDJVEBEFT&OPUSPT
MBEPTMBTFYQPSUBDJPOFTWBOIBDJB
&VSPQBZ/PSUFBNÏSJDB6OBDPOWJDDJØO
EFMPTDPTUPTTBMBSJBMFTSFMBUJWPT
EFUFSNJOBOMBTPQPSUVOJEBEFTEF
DPNFSDJBMJ[BDJØO
XXXmOUSBDDPNEBUPTTPCSF
FYQPSUBDJPOFTEFWBSJPTQBÓTFT
-PTTPOEFPTEFNFSDBEPTPONÏUPEPTÞUJMFTQBSB
DBMDVMBSMBDBOUJEBESFDPMFDUBEBFOMBMPDBMJEBE"ZVEBO
UBNCJÏOBEFNPTUSBSFMQPUFODJBMEFFYQBOTJØOEFMBT
WFOUBTMPDBMFT
.POUPZB&TRVJWFMFUBM.ÏYJDP#PBFUBM
.BMBXJ
%FTBSSPMMBSFMQPUFODJBMQPTJCJMJEBEFTBDDJPOFTPQPSUVOJEBEFT
-BSFDPMFDDJØOEFFTQFDJFTEFBMUPWBMPS
QVFEFTFSMBQSJODJQBMQSPEVDDJØOEF
VOCPTRVFZQPSFTPMPTPCKFUJWPTEF
RVJÏOFTTPOZMB
HFTUJØOEFCFSÓBOTFSSFEBDUBEPTFO
JNQPSUBODJBSFMBUJWB
DPOTFDVFODJB
EFMBTSFDPMFDDJPOFT
5FEEFS.JUDIFMMZ'BSSBO
EF)4$
$BOBEB
6TVBSJPTEF
CPTRVFT
0SEFOBDJØO
EFNPOUFT
JNQPSUBODJBSFMBUJWB
EFMPTCPTRVFT
WTMPT1'/.Z
FTQFDÓGJDBNFOUFWT
MPT)4$
6OFYBNFOEFUBMMBEPEFMPTPCKFUJWPT
GPSFTUBMFTDPOVOBOÈMJTJTEFMPT
QSJODJQBMFTQSPEVDUPTZTFSWJDJPTTF
OFDFTJUBFOMBQMBOJGJDBDJØOFGFDUJWB
QBSBVTPTNÞMUJQMFT
%JWFSTJEBE
CJPMØHJDBFTUBEPEF
DPOTFSWBDJØOEFMPT
)4$ZEFMBTQMBOUBT
-BTFYJHFODJBTEFDPOTFSWBDJØOEFCFO
EJSJHJSMBTOFDFTJEBEFTEFUPEPTMPT
VTVBSJPTEFCPTRVFTJODMVZFOEPMB
SFDPMFDDJØODPNFSDJBM&TUPDBVTB
JORVJFUVEFTQBSUJDVMBSFTBDBVTB
EFMBTQÏSEJEBTQFSDJCJEBTZMBT
DBVTBTEFEB×PT&TUPTQSPCMFNBT
QVFEFOTFSSFTVFMUPTTPMBNFOUFDPO
EBUPTGJEFEJHOPTZDPOVOBTØMJEB
DPNQSFOTJØOEFMPRVFMBHFOUFIBDFZ
EFMQPSRVÏMPIBDF
"MFYBOEFSFUBM64"
-PTNÏUPEPTEFFWBMVBDJØOSÈQJEBIBOJODSFNFOUBEP
HSBOEFNFOUFFMDPOPDJNJFOUPTPCSFMPTVTVBSJPTEF
CPTRVFT4FOFDFTJUBOBOÈMJTJTDVJEBEPTPTEFMPT)4$
-PTJOGPSNFTHFOFSBMFTTPCSFMPTVTVBSJPTEFCPTRVFT
QPESÓBOOPSFQPSUBSUBMFTQSÈDUJDBT
$BNQCFMM.JPNCPTPVUIFSO"GSJDB
&MVTPEFCBKBJOUFOTJEBEQSFTFOUBQPDBTBNFOB[BT
JONFEJBUBTQBSBMPTCPTRVFTEFQSPEVDDJØOBVORVF
OPTQSPQPSDJPOØVODPOPDJNJFOUPNÈTBNQMJPTPCSFMB
SFDPMFDDJØOEFMPT)4$QVFEFBMUFSBSFTUBQFSDFQDJØO
-VOE1BKBSJZ,PSIPOFO#PSFBMBOEDPME
UFNQFSBUFGPSFTUT
6OBQSFPDVQBDJØOQSJODJQBMFOMPTQBÓTFTUSPQJDBMFTFT
MBFTDBTBEFTDSJQDJØOEFMBNJDPUB-PTFTUVEJPTFTUÈO
BDUVBMNFOUFEJGJDVMUBEPTQPSMBGBMUBEFUBYPOPNJTUBT
FOUSFOBEPTBEFDVBEBNFOUF-BDPNQSFOTJØOEFMBT
BTPDJBDJPOFTFDUPNJDPSSÓ[JDBTQPESÓBBZVEBSBJEFOUJGJDBS
MBQSPEVDDJØOEF)4$DPNPTVDFEFDPOMBTFTQFDJFT
5VCFSFO&VSPQB
5JCJMFUUJZ;BNCPOFMMJ*UBMJB
1FSJOJ&VSPQB
03%&/"$*»/&'&$5*7"
&MQSJODJQBMPCKFUJWPEFMBPSEFOBDJÓOEFMPT)4$FTBTFHVSBSMBQSPEVDDJÓOTPTUFOJCMF
&TUP TF MPHSB FYBNJOBOEP TV CJPMPHÎB FDPMPHÎB Z NPEFMPT EF VTP FO SFMBDJÓO DPO
PUSPTVTPTEFMPTCPTRVFTZDPOFMHSVQPEFQFSTPOBTJOWPMVDSBEBT$BQÎUVMP
&OFM
$VBESPTFEFTDSJCFOMPTUFNBTQSJODJQBMFTRVFOFDFTJUBOTFSBCPSEBEPT&M$VBESP
PGSFDFVOFOGPRVFFTUSVDUVSBEPEFVOBQSPEVDDJÓOTPTUFOJCMFEFMPT)4$ZEFMPT
CPTRVFT
-B DMBWF EFM ÊYJUP FT UFOFS VO DPOPDJNJFOUP TÓMJEP EF MP RVF MB HFOUF IBDF FO MPT
CPTRVFTZEFMQPSRVÊMPIBDFZMMFWBSBDBCPVOBFWBMVBDJÓOEFMBJNQPSUBODJBSFMBUJWB
EF MB QSJPSJEBE EF CFOFGJDJPT PCUFOJEPT QSPEVDUPT Z TFSWJDJPT
Z EF MBT BDUJWJEBEFT
SFMBDJPOBEBT "M QMBOJGJDBS QSPZFDUPT P JOJDJBUJWBT FTQFDÎGJDBNFOUF TPCSF MPT )4$
MPTPCKFUJWPTEFMBHFTUJÓOGPSFTUBMOFDFTJUBOTFSDMBSBNFOUFEFGJOJEPTMPTCPTRVFTEF
QSPEVDDJÓOTPOBENJOJTUSBEPTQBSBEJGFSFOUFTQSPQÓTJUPTDPNQBSBEPTDPOMPTCPTRVFT
QSPUFHJEPT
4JO FNCBSHP FM QVOUP EF JOJDJP QBSB DVBMRVJFS QSPHSBNB EF PSEFOBDJÓO TPO MPT
NJTNPT)4$4FOFDFTJUBOEBUPTGJEFEJHOPTTPCSFTVSFOEJNJFOUPZTVQSPEVDUJWJEBE
$POTFKPTSFDJFOUFTTPCSFMPTNÊUPEPTEFJOWFOUBSJPEFMPT1'/.SFWFMBODPNPQPESÎB
TFSPCUFOJEBFTUBJOGPSNBDJÓO'"0B
4FOFDFTJUBOMBTMJTUBTEFMBTFTQFDJFTKVOUP
DPOMBJOGPSNBDJÓOTPCSFTVJNQPSUBODJBSFMBUJWBQBSBMBDPNVOJEBEMPDBM
&M VTP TPTUFOJCMF EF MPT )4$ EFQFOEF EF MB SFEVDDJÓO BM NÎOJNP EFM JNQBDUP EF
MPTQSPDFEJNJFOUPTEFSFDPMFDDJÓOTPCSFMPTSFDVSTPTNJDÓUJDPTZTPCSFFMCPTRVF"M
NJTNPUJFNQPEFCFSÎBTFSSFVOJEBMBJOGPSNBDJÓOTPCSFPUSPTVTPT"MHVOPTVTPTEFVO
CPTRVFQPESÎBOTFSJODPNQBUJCMFTZFTOFDFTBSJPSFBMJ[BSBKVTUFTBTVHFTUJÓO
&MFRVJMJCSJPEFMBTOFDFTJEBEFTEFMPTVTVBSJPTEFCPTRVFTFOMPTQBÎTFTFOEFTBSSPMMP
FTBNFOVEPDPNQMJDBEPQPSRVFMBTQSFTJPOFTFOMPTSFDVSTPTGPSFTUBMFTTPOHSBOEFTZ
MPTVTVBSJPTUJFOFOVOBWP[EÊCJMFOMBEFDJTJÓOEFMPTPCKFUJWPTEFHFTUJÓO-PTHSVQPT
EF VTVBSJPT EFCFO TFS DBQBDFT EF FYQSFTBS TVT OFDFTJEBEFT Z EFCFO TFOUJS RVF TVT
PQJOJPOFTIBOTJEPUPNBEBTFODPOTJEFSBDJÓO
$0.&3$*"-*;"$*»/:$6-5*7"$*»/
-BDPNFSDJBMJ[BDJØO
"WFDFTIBZFYQFDUBUJWBTQPDPSFBMJTUBTTPCSFFMEJOFSPRVFTFQVFEFHBOBSBUSBWÊTEF
MBFYQPSUBDJÓOEFMPT)4$.VDIPEFQFOEFEFMDPTUPEFMBNBOPEFPCSBZEFMBDDFTP
-PT)POHPT4JMWFTUSFT$PNFTUJCMFT1FSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
BMPTNFSDBEPT-BTFYQPSUBDJPOFTEF/PSUFBNÊSJDBIBOTVGSJEPQPSRVFMBSFDPMFDDJÓO
EF )4$ FT NÃT CBSBUB FO &VSPQB EFM FTUF Z MPT DPTUPT EF USBOTQPSUF TPO NFOPSFT
&M SJUNP EF MBT UFNQPSBEBT GSVDUÎGFSBT BGFDUBSÃ MPT QSFDJPT RVF TF QVFEFO PCUFOFS
$VBOEP MBT UFNQPSBEBT EF QSPEVDDJÓO TF TVQFSQPOFO FO EJGFSFOUFT QBÎTFT MB PGFSUB
EF MBT FTQFDJFT DPNFTUJCMFT DPNVOFT QFK SFCP[VFMPT
JODSFNFOUBSÃ Z MPT QSFDJPT TF
SFEVDJSÃO"OVBMNFOUFTFEBOGMVDUVBDJPOFTFOMBQSPEVDDJÓOEJGÎDJMFTEFQSFEFDJSZ
MBTPTDJMBDJPOFTEFMQSFDJPQBHBEPQPSMBTFTQFDJFTDSFBOJODFSUJEVNCSFZVONFSDBEP
QPUFODJBMNFOUFJOFTUBCMF
&TUP OP TJHOJGJDB RVF MPT DPNFSDJPT EF FYQPSUBDJÓO OP QVFEBO TFS TPTUFOJEPT DPO
ÊYJUP TJOP RVF TF OFDFTJUB VOB QMBOJGJDBDJÓO DVJEBEPTB MB IBCJMJEBE EF SFTJTUJS B FTUF
SFGMVKPEFMNFSDBEPZMBFOUSFHBBUJFNQPEFVOQSPEVDUPEFCVFOBDVBMJEBE1PSFTUP
MBT JOJDJBUJWBT FO QSP EF MB FYQBOTJÓO EF MPT NFSDBEPT MPDBMFT TPO MB NFKPS GPSNB EF
DPNFSDJBMJ[BDJÓOEFMPT)4$4FOFDFTJUBSÃQPOFSBUFODJÓOBMPTEFUBMMFTMMFWBOEPFM
QSPEVDUPBMNFSDBEPEFGPSNBSÃQJEB
QFSPMPTSFUPTQPUFODJBMFTTFSÃONFOPSFTZNÃT
NBOFKBCMFTMPRVFJODSFNFOUBSÃMBTQPTJCJMJEBEFTEFTVDFTP
6OBDMBSBFWJEFODJBEFFTUBTJUVBDJÓOTPOMPTNFSDBEPTMPDBMFTEF4VEÃGSJDBZEF.ÊYJDP
RVF IBO EFTBSSPMMBEP JOJDJBUJWBT MPDBMFT B NFOVEP DPO QPDB P OJOHVOB BTJTUFODJB QPS
QBSUFEFMPTHPCJFSOPTPEFMPTQSPZFDUPTEFEFTBSSPMMP&MQBQFMEFMPTJOWFTUJHBEPSFTZ
EFMBT0/(FOFTUBTDJSDVOTUBODJBTFTFMEFDPOTPMJEBSMPTTJTUFNBTEFDPNFSDJPFYJTUFOUFT
FJEFOUJGJDBSEÓOEFDPOMBNFOPSDBOUJEBEEFDBNCJPTQPTJCMFTTFQVFEFMMFHBSBNBZPSFT
NFKPSBT&MFKFNQMPTJHVJFOUFJMVTUSBFMQPUFODJBMEFFTUFTFODJMMPFOGPRVF
&O MB SFHJÓO EF .[JNCB BM OPSUF EF .BMBXJ MBT NVKFSFT SFDPSSFO HSBOEFT
EJTUBODJBT QBSB MMFHBS IBTUB MPT DPNFSDJBOUFT RVF DPNQSBO DPO FOUVTJBTNP DVBOEP
TF MFT QSFTFOUB MB PQPSUVOJEBE -B GVFSUF EFNBOEB MPDBM EF )4$ HBSBOUJ[B CVFOPT
QSFDJPTEFNFSDBEPTJTÓMPVOOÙNFSPSFEVDJEPEFSFDPMFDUPSFTWFOEFTVTQSPEVDUPT
EJSFDUBNFOUF(FOFSBMNFOUFMPTWFOEFOBMPTDPNFSDJBOUFTRVJFOFTMVFHPMPTSFWFOEFO
FOMPTNFSDBEPTBMEPCMFEFMQSFDJPQBHBEP)PZFOEÎBTFFTUÃOQPOJFOEPFONBSDIB
FTGVFS[PTQBSBBMFOUBSNÃTSFDPMFDUPSFTBWFOEFSEJSFDUBNFOUFZBFTUBCMFDFSQVOUPTEF
DPNFSDJBMJ[BDJÓO DFSDB EF TVT DBTBT JODSFNFOUBOEP EF FTUB GPSNB MBT DBOUJEBEFT RVF
QVFEFOTVNJOJTUSBSBMPTNFSDBEPTMPDBMFT-PXPSF.VOUIBMJZ#PB
-BDVMUJWBDJØO
)BZQPTJCJMJEBEFTEFFYQBOTJÓOEFMBDVMUJWBDJÓOEFIPOHPTDPNFTUJCMFT-PTNÊUPEPT
FOFTDBMBTNÃTBNQMJBTTPOJOBQSPQJBEPTQBSBMBTDPNVOJEBEFTMPDBMFTRVFQJFSEFOFM
EJOFSPBMFTUBCMFDFSUBMFTOFHPDJPT-PTFOGPRVFTFOQFRVFÒBFTDBMBiIVFSUPTDBTFSPTu
EFTDSJUPT FO 4UBNFUT TPO BNQMJBNFOUF VTBEPT FO UPEB $IJOB ­TUPT UJFOFO VO
NBZPSQPUFODJBMQBSBMBTQPCMBDJPOFTSVSBMFTRVFSFDPMFDUBOMPTIPOHPTEFMBDÃTDBSBEF
BSSP[DPNPQBSUFEFTJTUFNBTJOUFHSBEPTEFFYQMPUBDJÓOFO7JFU/BNQPSFKFNQMP
&-'65630%&-04)0/(04$0.&45*#-&4
&MDSFDJFOUFJOUFSÊTZMBJNQPSUBODJBEFMPT1'/.IBOBZVEBEPBFOBMUFDFSFMQFSGJMEF
MPT)4$FOUPEPFMNVOEP6OBSFDPMFDDJÓODPNFSDJBMCJFOQVCMJDJUBEBFO/PSUFBNÊSJDB
EFTEFMPTBÒPTOPWFOUBZMBFYQBOTJÓOEFJOGPSNFTEFTEF&VSPQBEFMFTUFZ$IJOBIBO
JODSFNFOUBEP MB DPODJFODJB TPCSF MPT )4$ Z IPZ FYJTUF VO DPNFSDJP TVTUBODJBM Z
TJHOJGJDBOUFEFTEFMPTQBÎTFTFOEFTBSSPMMPIBDJBFM/PSUF6OJOUFSÊTDSFDJFOUFFOMPT
IPOHPT NFEJDJOBMFT IB BUSBÎEP JOUFSFTFT DPNFSDJBMFT BVORVF TJFNQSF IB IBCJEP VOB
GVFSUFEFNBOEBFO"TJBEF(BOPEFSNBZEFPUSBTFTQFDJFTJNQPSUBOUFT
-BFYQBOTJÓOEFMBSFDPMFDDJÓODPNFSDJBMZEFMDPNFSDJPJOUFSOBDJPOBMIBMMFWBEP
B VO BNQMJP JOUFSÊT QPS MB TPCSFQSPEVDDJÓO Z QPS FM EBÒP DBVTBEP B MPT SFDVSTPT
NJDPMÓHJDPT Z B MPT CPTRVFT &YJTUF FM QFMJHSP EF SFTUSJOHJS MB SFDPMFDDJÓO DPNFSDJBM
TJOFYBNJOBSMPTEBUPTEJTQPOJCMFTPTJOJEFOUJGJDBSMBOFDFTJEBEEFSFDPHFSEBUPTQBSB
SFTQPOEFS B QSFHVOUBT JNQPSUBOUFT TPCSF FM JNQBDUP Z MB TPTUFOJCJMJEBE 6O JOUFOUP
SFDJFOUF EF SFTUSJDDJÓO EF MBT SFDPMFDDJPOFT EF NBUTVUBLFT FO &TUBEPT 6OJEPT GVF
%FTBSSPMMBSFMQPUFODJBMQPTJCJMJEBEFTBDDJPOFTPQPSUVOJEBEFT
3&$6"%30
-BDBMJEBEEFMQSPEVDUPZTVJNQPSUBODJBQBSBFMDPNFSDJP
-PT WFOEFEPSFT BNCVMBOUFT EF )4$ FO .BMBXJ TBCFO RVF MPT DPNQSBEPSFT QBHBSÃO NÃT QPS MBT
FTQFDJFTGSFTDBTZQSFTFOUBEBTFOGPSNBBUSBDUJWB-JNQJBODPODVJEBEPMPTDBSQÓGPSPTZTFMFDDJPOBO
MPTNFKPSFTQBSBQPOFSMPTFODJNBEFMPTNPOUPOFTEFIPOHPTEFTVTQVFTUPTEFWFOUBQFSPFOHFOFSBM
EFEJDBOQPDPUJFNQPBFTUBTBDDJPOFT-BTEJGFSFODJBTQPSMPRVFBMEJOFSPDPODJFSOFTPOQFRVFÒBT-P
NÃTJNQPSUBOUFFTSFVOJSMPT)4$MPNÃTQSPOUPQPTJCMFEFTEFMPTCPTRVFTIBTUBFTUBTWFOUBT
"M TVCJS FM WBMPS EF MBT FTQFDJFT UBNCJÊO TVCF FM QSFDJP RVF MPT SFDPMFDUPSFT Z MPT DPNFSDJBOUFT
FTQFSBO-BTEJGFSFODJBTEFDBMJEBEFOUSFMPTNBUTVUBLFTRVFMMFHBOB+BQÓOEFTEF$IJOBZMB3FQÙCMJDB
EF $PSFB FT JONFEJBUBNFOUF FWJEFOUF QBSB DVBMRVJFSB RVF DPNQBSF MBT DBKBT -PT FTQFDÎNFOFT EF MB
3FQÙCMJDBEF$PSFBFTUÃONFOPTEBÒBEPTTPOBDPNPEBEPTDPODVJEBEPZTPOEFQSJNFSBDBMJEBEMP
RVFTBUJTGBDFMBTFYJHFODJBTEFMPTDPNQSBEPSFTKBQPOFTFTRVFFTUBSÃOEJTQVFTUPTBQBHBSMPTNFKPSFT
QSFDJPT
&MUSBOTQPSUFEFMPTFTQFDÎNFOFTGSFTDPTIBTUBMPTNFSDBEPTFTVOSFUPDPOTJEFSBCMF-BBQBSJFODJB
GÎTJDB EF MPT DBSQÓGPSPT PCWJBNFOUF FT JNQPSUBOUF Z TF UJFOF RVF PCTFSWBS MBT QSFGFSFODJBT EF MPT
DPNQSBEPSFT"MHVOBTFTQFDJFTQJFSEFOFMDPMPSTJTFMFTEBÒBFMTPNCSFSPPMPTGJMBNFOUPTZUJFOFORVF
TFSNBOFKBEBTDPODVJEBEP-PTDPNQSBEPSFTUJFOFORVFFTUBSTFHVSPTRVFMPTDBSQÓGPSPTOPIBZBO
TJEPDPOUBNJOBEPTQPSMPTJOTFDUPTBMHVOPTSFDPMFDUPSFTMPTFTDPOEFOFOFMGPOEPEFMPTDPOUFOFEPSFT
QFSPUBMUSVDPSBSBTWFDFTQBTBEFTBQFSDJCJEPQPSNVDIPUJFNQP
%FQFOEJFOEPEFMTVFMPEPOEFDSFDFO
MPTIPOHPTQPESÎBTFSOFDFTBSJPVOBMJNQJF[BQSFMJNJOBSEFMPTTPNCSFSPTPGJMBNFOUPTZQVFEFOTFS
OFDFTBSJPTFTQBDJPTQBSBSFNPWFSFTUBTQBSUÎDVMBT-PT4QBSBTTJTDSJTQBZEFNÃTFTQFDJFTDPOTPNCSFSPT
FOGPSNBEFQBOBMBDVNVMBOGÃDJMNFOUFQPMWPEJGÎDJMEFFMJNJOBS
-BSFDPMFDDJÓOEFMPTDBSQÓGPSPTFOTVFTUBEJPDPSSFDUPEFEFTBSSPMMPFTJNQPSUBOUF"MNBEVSBS
BMHVOBTFTQFDJFTTFWVFMWFOMFÒPTBTZNFOPTBQFUFDJCMFTRVFPUSBTUBMFTDPNPMPT$PSQJOVTDPNBUVT
RVF TF EFTIBDFO P QVESFO DPO GBDJMJEBE -B DPOTFDVFODJB TFODJMMB QBSB MPT SFDPMFDUPSFT FT RVF MPT
FTQFDÎNFOFTJOGFSJPSFTTPONFOPTBQFUFDJEPTZDVFTUBONFOPT%FKBOEPBVOMBEPFTUBQSPQPTJDJÓOMPT
#PMFUVTFEVMJTUJFOFOEJGFSFOUFTDBSBDUFSÎTUJDBTFOTVTBCPSEFQFOEJFOEPEFTVMVHBSEFQSPWFOJFODJB
-PTDPNQSBEPSFTFYQFSUPTEF*UBMJBQVFEFOJEFOUJGJDBSFMQBÎTEFPSJHFOEFFTUPTIPOHPTQPSNFEJPEFM
PMPSEFMPTDBSQÓGPSPTTFDBEPT&TUPEFUFSNJOBBTVWF[FMQSFDJPRVFMPTDPNQSBEPSFTQBHBOQPSVO
NFSDBEPQBSUJDVMBS
-BEJGFSFODJBNÃTFTQFDUBDVMBSFOMPTSFTVMUBEPTFDPOÓNJDPTCBTBEPTFOMBDVBMJEBEEFMQSPEVDUP
TFNVFTUSBOFOMBTDBOUJEBEFTSBEJDBMNFOUFEJGFSFOUFTEFEJOFSPRVFTFHBOBFOMB3FQÙCMJDB1PQVMBS
%FNPDSÃUJDBEF$PSFBZFOMB3FQÙCMJDBEF$PSFBSFTQFDUJWBNFOUFDPOMBTFYQPSUBDJPOFTEFNBUTVUBLFT
"QFTBSEFFYQPSUBSTPMBNFOUFUPOFMBEBTFOVOQFSÎPEPEFDJODPBÒPTFODPNQBSBDJÓODPOMB
EFMB3FQÙCMJDB1PQVMBS%FNPDSÃUJDBEF$PSFBMB3FQÙCMJDBEF$PSFBHBOÓDBTJFMQPSDJFOUPNÃT
$VBESPTZ
'VFOUFT -PXPSF Z #PB PCTFSWBDJPOFT EFM BVUPS Z ;BNCPOFMMJ DPNVOJDBDJÓO QFSTPOBM 5SVGGMFT BOE
DPMMFDUJOHQPSDJOJJO*UBMZ
SFDIB[BEPCBTÃOEPTFFOVOBOÃMJTJTNÃTEFUBMMBEPEFFTUPTSFDVSTPTZEFTVTNPEFMPT
EFVTPBDUVBMFT.VTISPPNUIF+PVSOBMPG8JME.VTISPPNJOH
-BTJORVJFUVEFTTPCSFMPTVTPTQBSBMBTVCTJTUFODJBFOMPTQBÎTFTFOEFTBSSPMMPTVSHFO
QSFQPOEFSBOUFNFOUFTPCSFFMVTPTPTUFOJCMFEFMPTSFDVSTPTOBUVSBMFT-BDMBWFQBSBFM
EFTBSSPMMPEFMPT)4$DPNPBMJNFOUPMPDBMPGVFOUFEFJOHSFTPTFTFMFYBNFOEFMPT
EJGFSFOUFTBTQFDUPTEFTVVTPZEFTVSFDPMFDDJÓOZBQSFOEFSNÃTBDFSDBEFMBTQSÃDUJDBT
MPDBMFTZTPCSFMBTOFDFTJEBEFTEFMBDPNVOJEBE
)B IBCJEP NVDIP FOUVTJBTNP TPCSF FM EFTBSSPMMP CBTBEP FO MPT 1'/.
QBSUJDVMBSNFOUF FO MPT CPTRVFT QSPUFHJEPT 4F OFDFTJUB QSFDBVDJÓO BM FWBMVBS MPT
CFOFGJDJPT QPUFODJBMFT EF FTUB FTUSBUFHJB FO MB DVBM USFT DSFFODJBT DPNVOFT OFDFTJUBO
VOBJOWFTUJHBDJÓONÃTEFUBMMBEB#FMDIFS
-PT)POHPT4JMWFTUSFT$PNFTUJCMFT1FSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
-PT1'/.DPOUSJCVZFONÃTRVFMPTQSPEVDUPTNBEFSBCMFTFOMPTTJTUFNBTEF
WJEBZEFTBSSPMMPZFOFMCJFOFTUBSEFMBTQPCMBDJPOFTRVFWJWFOFOPDFSDBEFMPT
CPTRVFTQBSUJDVMBSNFOUFFOUJFNQPTEFFTDBTF[
4VFYQMPUBDJÓOQSPEVDFNFOPTEBÒPDPNQBSBEBDPOMBFYQMPUBDJÓOGPSFTUBMZFT
VOBCBTFTÓMJEBQBSBVOBHFTUJÓOGPSFTUBMTPTUFOJCMF
&MBVNFOUPEFMBSFDPMFDDJÓODPNFSDJBMBHSFHBWBMPSBMPTCPTRVFTUSPQJDBMFT
QPS MP UBOUP JODSFNFOUB FM JODFOUJWP B NBOUFOFSMPT FO WF[ EF DPOWFSUJSMPT FO
PUSPTVTPTEFMTVFMP
)BZVOBFWJEFODJBNÃTRVFFTQFSBEBQBSBBQPZBSMPTQSJNFSPTEPTQVOUPTQBSBMPT
)4$NJFOUSBTTFPCTFSWBMBOFDFTJEBEEFVOBJOGPSNBDJÓONBZPSZNÃTBNQMJB&TUÃ
NFOPT DMBSP RVF MBT SFDPMFDDJPOFT DPNFSDJBMFT BZVEFO B QSPUFHFS MPT CPTRVFT -BT
BTPDJBDJPOFT NJDPSSÎ[JDBT EF MPT )4$ QSJODJQBMFT TJO FNCBSHP FOGBUJ[BO FTUF ÙOJDP
QBQFMRVFUJFOFOFOFMNBOUFOJNJFOUPEFMBTBMVEEFMBTFTQFDJFTBSCÓSFBT
&MDÃMDVMPEFMDPNFSDJPNVOEJBMEF)4$FDUPNJDPSSÎ[JDPT
FTEFBQSPYJNBEBNFOUF
NJMNJMMPOFTEFEÓMBSFT&&66)BMMFUBM
4VWFSEBEFSPWBMPSTJOFNCBSHP
JODMVZFFMWBMPSRVFÊTUPTUJFOFOQBSBNJMMPOFTEFQFSTPOBTEFMBTQPCMBDJPOFTSVSBMFTEF
UPEPFMNVOEPRVFTFCFOFGJDJBOEFTVDPOTVNPBMJNFOUPRVFEFOPTFSBTÎFTUBSÎBO
PCMJHBEPTBDPNQSBSPBOPDPOTVNJS
ZEFMPTCFOFGJDJPTFDPOÓNJDPTHFOFSBEPTQPS
TVSFDPMFDDJÓO
&YJTUFOSB[POFTQFSTVBTJWBTRVFOPTEBOMBFTQFSBO[BEFVOGVUVSPNFKPSQBSBMPT
)4$ NBOUJFOFO MB TBMVE EF MPT CPTRVFT TPO VOB GVFOUF WBMJPTB EF OVUSJDJÓO Z EF
CFOFGJDJPTFDPOÓNJDPT-BTOVFWBTJOJDJBUJWBTEFCFSÎBODPODFOUSBSTFFOFMBVNFOUPEFM
VTPZJOHSFTBTFOBRVFMMBTÃSFBTRVFZBUJFOFOVOBGVFSUFUSBEJDJÓOEFVTPZDPOTVNP
EF)4$-BTPQPSUVOJEBEFTEFFYQPSUBDJÓOFYJTUFOUBNCJÊOQFSPTPOTVCTUBODJBMNFOUF
NÃTBSSJFTHBEBT
%VSBOUF MB QSFQBSBDJÓO EF FTUF MJCSP TPCSF MPT )4$ Z MPT )46 MB JOGPSNBDJÓO
GVF QSPDFTBEB FO VOB CBTF EF EBUPT TFODJMMB %BUPT RVF IBO TJEP QVFTUPT BM EÎB Z
NPEJGJDBEPTDPOMBBZVEBEFM4S1BVM,JSLEF$"#*#JPTDJFODFZTPOEJTQPOJCMFTFO
MÎOFB FO MB EJSFDDJÓO XXXXJMEVTFGVMGVOHJPSH JOGPSNBDJÓO SFTVNJEB EF VOBT FTQFDJFTZFOMPTSFHJTUSPTPSJHJOBMFTEFNÃTEFSFGFSFODJBTZMJTUBTQVCMJDBEBTFO
UPEPFMNVOEP1PSNFEJPEFFTUFOVFWPTJUJPXFCTFQVFEFODPOUSPMBSGÃDJMNFOUFMPT
OPNCSFTDJFOUÎGJDPTZQSFGFSJEPTEFMBTFTQFDJFTEF)4$
*-6453"$*»/
-04)0/(04$0.&45*#-&4:.&%*$*/"-&4&/"4*"
5PEBTMBTGPUPTTPOEF&SJD#PBFYDFQUPMBTEFMPT$PSEZDFQTTJOFOTJTEF8BSSFO1SJFTU
1SFTFOUBDJÓOEFM1IBMMVTJNQVEJDVT 1IBMMVTJNQVEJDVTTFDPT
)POHPTDPMNFOJMMBTFDPTDPNQSB
EPTFO#ÊMHJDB
"SSJCB
)ZEOVNSFQBOEVN
GSFTDPTJ[RVJFSEBPCTFSWFMBTFTQJOBT
TJOGJMBNFOUPT
F)ZQTJ[ZHVTUFTTVMBUVT
EFWFOUBFOVOTVQFSNFSDBEPEFM3FJOP
6OJEP
*[R
$BOUIBSFMMVTDJCBSJVTTFDPTEF
WFOUBFO)VOHSÎB
%FS
(BOPEFSNBTFDPWFOEJEP
QBSBVTPNFEJDJOBM4JOHBQVS
1VCMJDJEBEEFMDIPOHDBP$PSEZDFQTTJOFOTJT
MBT
iSBNJUBTuOBSBOKBTBMBJ[RVJFSEBFO9JOJOH$IJOB
-JNQJBOEPMPTDIPOHDBPTFO,BOHEJOH$IJOBEVSBOUF
MBQSFQBSBDJÓOQBSBMBWFOUB
'VFOUFTEFBTFTPSBNJFOUPF
JOGPSNBDJØO
1&3*$*".*$0-»(*$"
6OB EF MBT ÃSFBT NÃT DPNVOFT EPOEF TF OFDFTJUB QFSJDJB UÊDOJDB FT MB JEFOUJGJDBDJÓO
EF MPT FTQFDÎNFOFT Z MB BTJHOBDJÓO EFM OPNCSF DJFOUÎGJDP )BZ NJDÓMPHPT FO UPEPT
MPT QBÎTFT QSJODJQBMFT EFTBSSPMMBEPT P FO EFTBSSPMMP BVORVF TV FYQFSJFODJB DPO MPT
NBDSPNJDFUPTQVFEFSFEVDJSTFBHSVQPTQBSUJDVMBSFT.VDIPTNJDÓMPHPTUSBCBKBODPO
MPTNJDSPNJDFUPTZFOPUSBTÃSFBTEFBQMJDBDJÓOUBMFTDPNPMBQBUPMPHÎBEFMBTQMBOUBT
1BSFDFRVFMPTFYQFSUPTEFIPOHPTDPNFTUJCMFTUFOÎBONBZPSFTDPOPDJNJFOUPTTPCSF
MBTFTQFDJFTDVMUJWBEBT-PT)4$OPIBOTJEPFMDFOUSPEFJOWFTUJHBDJPOFTDPODFSUBEBT
IBTUBMPTÙMUJNPTEJF[PWFJOUFBÒPTZMBQFSJDJBQSPGFTJPOBMFTUÃTVKFUBBMPTDBQSJDIPTEF
MPTGPOEPTBCSFWFUÊSNJOPQBSUJDVMBSNFOUFDVBOEPTPOQBSBFMFTUVEJPEFMPTVTPTQBSB
MBTVCTJTUFODJB-PTJOWFTUJHBEPSFTQSJWBEPTNBOUJFOFOVOFTUSFDIPJOUFSÊTQSPGFTJPOBM
FOMPT)4$BVORVFTFBEFGPSNBHFOFSBMZOPFTQFDJBMJ[BEBFOMBJEFOUJGJDBDJÓOEFMBT
FTQFDJFT
&YJTUFOTJOFNCBSHPWBSJPTHSVQPTEFQSPGFTJPOBMFTDPOVOJOUFSÊTDPNQBSUJEPFO
MPT )4$ TPCSF CBTFT SFHVMBSFT -PT NJFNCSPT EF FTUPT HSVQPT FTUÃO FTQBSDJEPT QPS
UPEP FM NVOEP &M FKFNQMP NÃT DPOPDJEP FT FM &EJCMF &DUPNZDPSSIJ[BM (SPVQ RVF
QVFEFTFSDPOUBDUBEPBUSBWÊTEFMTJUJPXFCMJTUBEPFOFM$VBESP
)BZ VO CVFO OÙNFSP EF JOTUJUVDJPOFT FO &VSPQB Z /PSUFBNÊSJDB RVF UJFOFO VO
BMDBODF JOUFSOBDJPOBM Z RVF IFNPT MJTUBEP NÃT BEFMBOUF -PT QSJODJQBMFT IFSCBSJPT
EPOEF FTUÃO BMNBDFOBEBT MBT SFGFSFODJBT TPCSF MB SFDPMFDDJÓO EF NBDSPNJDFUPT FTUÃO
FOMPTQBÎTFTEFTBSSPMMBEPTBVORVFTFFTUÃOMMFWBOEPBDBCPFTGVFS[PTQBSBFTUBCMFDFS
SFDPMFDDJPOFT FO PUSPT MVHBSFT -B QFSJDJB NJDPMÓHJDB FO MB JEFOUJGJDBDJÓO EF MPT
FTQFDÎNFOFT FT EJTQPOJCMF FO VOB CVFOB DBOUJEBE EF QBÎTFT UBMFT DPNP .ÊYJDP Z
$IJOB/PFTUÃTJFNQSFDMBSPDVBMJOTUJUVDJÓOQÙCMJDBPQSJWBEBQPESÎBFTUBSFOHSBEP
EFBZVEBSDPOMBJEFOUJGJDBDJÓOZMPTNFKPSFTDPOTFKPTHFOFSBMFTRVFQPEFNPTPGSFDFS
FTJOTUBSBCVTDBSBUSBWÊTEF*OUFSOFUUBOUPFOMPTTJUJPTXFCDPNPFOMPTNPUPSFTEF
CÙTRVFEBQSFGFSJEPT
&OMPTUFNBTNÃTBNQMJPTEF1'/.FUOPDJFODJBFOGPRVFTQBSUJDJQBUJWPTTPCSFFM
EFTBSSPMMPZPUSBTEJTDJQMJOBTSFMFWBOUFTQBSBFMVTPEFMPT)4$MB'"0FTVOQVOUPEF
QBSUJEBÓQUJNPEPOEFCVTDBSBZVEB
-BTTPDJFEBEFTNJDPMÓHJDBTFYJTUFOFONVDIPTQBÎTFTEJGFSFOUFTZTPOVOQVOUPEF
QBSUJEBÙUJMQBSBCVTDBSTPMVDJPOFTBTVTQSFHVOUBTWÊBTFFOFM$VBESPEFUBMMFTTPCSF
TJUJPTXFC
(6¶"4%&$".1040#3&-04)0/(044*-7&453&4$0.&45*#-&4
)BZ NVDIBT HVÎBT EF DBNQP TPCSF MPT NBDSPNJDFUPT F JODMVZFO JOGPSNBDJÓO TPCSF
MBTFTQFDJFTDPNFTUJCMFTZWFOFOPTBT&TUBTHVÎBTFTUÃOEJSJHJEBTBMPTOBUVSBMJTUBTZB
MB HFOUF RVF WB B SFDPMFDUBS PDBTJPOBMNFOUF IPOHPT QBSB DPNFS -BT HVÎBT EF DBNQP
EFUBMMBEBT DPOUJFOFO MBT EFTDSJQDJPOFT DJFOUÎGJDBT EF MBT FTQFDJFT FYQSFTBEBT FO VO
MFOHVBKF DMBSP Z OP BNCJHVP RVF HFOFSBMNFOUF FT EJGÎDJM EF DPNQSFOEFS QBSB MPT OP
FTQFDJBMJTUBT&YJTUFOTJOFNCBSHPMJCSPTEFCPMTJMMPNÃTCSFWFTRVFTFCBTBONÃTFO
MBTGPUPHSBGÎBTZUJFOFOEFTDSJQDJPOFTFTDSJUBTEFMBTFTQFDJFT"NCPTUJQPTEFHVÎBTTPO
ÙUJMFTQBSBMBJEFOUJGJDBDJÓOEFMBTFTQFDJFTQFSPHFOFSBMNFOUFIBOTJEPFTDSJUPTQBSB
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$6"%30
'VFOUFTEFBTFTPSBNJFOUPUÏDOJDPZEFJOGPSNBDJØOTPCSFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFT
03("/*;"$*»/
*/'03."$*»/%&$0/5"$50
0#4&37"$*0/&4
$"#*#JPTDJFODF
#BLFIBN-BOF
&HIBN
4VSSFZ585:
3FJOP6OJEP
$PNQSFOEFFM*OTUJUVUP.JDPMØHJDP*OUFSOBDJPOBMIFSCBSJP
QVCMJDBDJPOFTCJCMJPUFDBEFDPOTVMUBQFSJDJBTUBYPOØNJDBT
FYQFSJFODJBTBNQMJBTFOFMEFTBSSPMMPCBTFTEFEBUPTF*OEFY
'VOHPSVN
XXXXJMEVTFGVMGVOHJPSHXXXDBCJCJPTDJFODFPSH
+BSEJOFT#PUÈOJDPT
3FBMFT,FX
5IF)FSCBSJVN
4VSSFZ58"#
3FJOP6OJEP
)FSCBSJPQFSJDJBTUBYPOØNJDBTFONBDSPNJDFUPT$FOUSPEF#PUÈOJDB
&DPOØNJDBJODMVZFIPOHPTDPNFTUJCMFT
CJCMJPUFDBEFDPOTVMUB
XXXSCHLFXPSHVLTDJIPSUNZDPMFYQIUN
.VTFP/BDJPOBMEF
#ÏMHJDB
%PNFJOWBO#PVDIPU
#.FJTF
#ÏMHJDB
1FSJDJBUBYPOØNJDB)4$IFSCBSJPTFOMBDFTJOUFSOBDJPOBMFT
QVCMJDBDJPOFT
XXXCSGHPWCF
*OTUJUVUPEF
*OWFTUJHBDJØOTPCSFFM
DVMUJWPZMPTBMJNFOUPT
1#
$ISJTUDIVSDI
/VFWB;FMBOEJB
%FTBSSPMMPEFUFDOPMPHÓBT$VMUJWBDJPOFTEFUSVGBTZEFNÈT)4$FO
DPOEJDJPOFTiDPOUSPMBEBTwXXXDSPQDSJO[QTQFNNVTISPPNT
JOEFYIUN
$6"%30
(VÓBTEFDBNQPZTJUJPTXFCQBSBMBJEFOUJGJDBDJØOEFMPTNBDSPIPOHPTZEFTVTWBSJFEBEFTDPNFTUJCMFT
1"¶4
*/'03."$*»/:'6&/5&4
"SHFOUJOB
#FOJO
#VMHBSJB
#VSVOEJ
$IJOB
(BNVOEÓZ)PSBL.BDSPNJDFUPTMJCSPEFCPMTJMMPDPOGPUPT&OFTQB×PM
%F,FTFM$PEKJBZ:PSPVGPUPHSBGÓBTTFMFDDJPOBEBTEFTDSJQDJØOEFMBTFTQFDJFT&OGSBODÏT
*PSEBOPW7BOFWZ'BLJSPWBFTQFDJFTDPNFTUJCMFTZWFOFOPTBTFOCÞMHBSP%JCVKPT
#VZDLCFEJDJØOBOPUBEBHVÓBBMBTFTQFDJFTDPNFTUJCMFT&OGSBODÏT'PUPHSBGÓBT
-BHVÓBNÈTDPNQMFUBZNFKPSJMVTUSBEBFT.BPVODPNQFOEJPJOUFSFTBOUÓTJNPEFNJDPMPHÓB
EFDBNQPDPOGPUPHSBGÓBTBUPEPDPMPS:JOHFUBMFTQFDJFTDPNFTUJCMFTFODIJOP<OPWJTUP>
.BP&TQFDJFTDPNFTUJCMFTFODIJOP:JOHFUBMFTQFDJFTNFEJDJOBMFTFODIJOP<OPWJTUP>
XXXJNBDDOUJFOFGPUPHSBGÓBTEFMBTQSJODJQBMFTFTQFDJFTQPSTVWBMPSFDPOØNJDP
'SBODP.PMBOP"MEBOB(ØNF[Z)BMMJOHHVÓBBMPTNBDSPIPOHPTGPUPHSBGÓBT
4FQVFEFOFODPOUSBSEPTHVÓBTFYDFMFOUFTDPOGPUPHSBGÓBTBDPMPSFTZUFYUPTFOFTQB×PMFJOHMÏT.BUB
)BMMJOHZ.VFMMFS
3PESÓHVF[FUBM
NBDSPIPOHPTDPOBOPUBDJPOFTTPCSFTVDPNFTUJCJMJEBEGPUPTBDPMPSFOFTQB×PM
"SPSBHVÓBQPQVMBSEFUPEPTMPTNJDSPIPOHPTDPOGPUPHSBGÓBTXXXNZLPXFCDPNFTQFDJFT
DPNFTUJCMFTGPUPHSBGÓBTEFTDSJQDJPOFT.PMJOBFUBMQSJODJQBMFTFTQFDJFTDPNFTUJCMFTFOFM1BDÓGJDP
OPSPFTUFGPUPHSBGÓBT
7BTJMFWBFTQFDJFTDPNFTUJCMFTWFOFOPTBTZNFEJDJOBMFTFOSVTPWJTUPTØMPMBUSBEVDDJØO)BZ
NVDIBTHVÓBTQPQVMBSFTEFMPTIPOHPTEFDBNQPZMBTJHVJFOUFFTVOFKFNQMPÞUJMZSÈQJEBNFOUF
EJTQPOJCMF&OSVTPZUJFOFEJCVKPT4FSHFFWB
$PMPNCJB
$PTUB3JDB
&TQB×B
&TUBEPT
6OJEPT
'FEFSBDJØO
EF3VTJB
MFKBOP
PSJFOUF
*OEJB
1VSLBZBTUIBZ$IBOESBSFTVNFOÞUJMEFMBTFTQFDJFTDPNFTUJCMFTEBUPTOVUSJDJPOBMFT4JO
GPUPHSBGÓBTOJEJCVKPT
*TSBFM
8BTTFSFTQFDJFTDPNFTUJCMFTZWFOFOPTBTFOSVTPZIFCSFP<OPWJTUB>
*UBMJB
5FTUJFTVOBHVÓBQPQVMBSVOBEFMBTNVDIBTQVCMJDBEBT-PTIPOHPTDPNFTUJCMFTEFMBSFHJØO
#BTJMJDBUBTFEFTDSJCFOFO5BHMJBWJOJZ5BHMJBWJOJ"NCBTHVÓBTUJFOFOGPUPHSBGÓBTZFTUÈOFTDSJUBTFO
JUBMJBOP
+BQØO
*NB[FLJFUBMIPOHPTEF+BQØOFOKBQPOÏTQFSPMPTOPNCSFTEFMBTFTQFDJFTFTUÈOFTDSJUPTFO
JOHMÏTZUJFOFGPUPTFYDFMFOUFT
,JSHVJTUÈO
&MDIJCBFWIPOHPTDPNFTUJCMFTEJCVKPTFOSVTP
.BMBXJ
XXXNBMBXJGVOHJPSHFTQFDJFTDPNFTUJCMFTDPOGPUPHSBGÓBTSFQPSUFTZCBTFTEFEBUPTDPOMPTOPNCSFT
MPDBMFT.PSSJTFTQFDJFTDPNFTUJCMFT%JCVKPT
.ÏYJDP
XXXTFNBSOBUHPCNYFTQFDJFTDPNFTUJCMFTWFOFOPTBTZNFEJDJOBMFTFOFTQB×PM5FYUPZGPUPHSBGÓBT
1PMPOJB
XXXHS[ZCZQMHVÓBCSFWFEFMBTFTQFDJFTDPNFSDJBMFTDPOGPUPHSBGÓBTFOQPMBDPFJOHMÏT
3FJOP6OJEP 1IJMMJQTFUBMFTQFDJFTDPNFTUJCMFTZWFOFOPTBTGPUPHSBGÓBTFYDFMFOUFT
3FQÞCMJDBEF 1BSLZ-FFHVÓBBMPTIPOHPTEF$PSFB/PWJTUB&ODPSFBOP
$PSFB
IUUQHJFDIHSPVQIQJOGPTFFLDPKQLJOPLPFOHIUNMQSJODJQBMNFOUFGPUPHSBGÓBTUFYUPMJNJUBEP
3FQÞCMJDB
%FNPDSÈUJDB
1PQVMBS-BP
)ÊSLÚOFO/JFNFMÊZ.XBTVNCJ
3FQÞCMJDB
6OJEBEF
5BO[BOÓB
4VEÈGSJDB
3ZWBSEFO1JFBSDFZ.BTVLBEFTDSJCFMPTNBDSPIPOHPTFOHFOFSBMJODMVZFOEPMBTFTQFDJFT
DPNFTUJCMFT'PUPHSBGÓBT7BOEFS8FTUIVJ[FOZ&JDLFSHVÓBHFOFSBMEFMPTNBDSPIPOHPT
GPUPHSBGÓBTZEFTDSJQDJØOEFMBTFTQFDJFTEFNBZPSJNQPSUBODJBQBSB4VEÈGSJDB
5JCFU3FHJØO .BPZ+JBOH.BDSPIPOHPTFDPOØNJDPTFODIJOP<OPWJTUB>
"VUØOPNB
$IJOB
5VSRVÓB
XXXPHNHPWUSFTQFDJFTDPNFTUJCMFTFOJOHMÏT'PUPHSBGÓBTZVOUFYUPCSFWF
6DSBOJB
;FSPWBZ3P[IFOLPFTQFDJFTDPNFTUJCMFTZWFOFOPTBTFOSVTP%JCVKPT8BTTFSHVÓBBMBT
FTQFDJFTDPNFTUJCMFTZWFOFOPTBTEFMPTNPOUFT$ÈSQBUPT
6HBOEB
,BUFOEF4FHBXBZ#JSOJFÈNCJUPMJNJUBEPEFMBTFTQFDJFTDPNFTUJCMFTEJCVKPT
'VFOUFTEFBTFTPSBNJFOUPFJOGPSNBDJÓO
$6"%30
4JUJPTXFCHFOFSBMFTTPCSFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTBSHVNFOUPTSFMBDJPOBEPT
%*3&$$*»/
0#4&37"$*0/&4
IUUQNZDPMPHZDPSOFMMFEV
-JCSFSÓBWJSUVBMTPCSFNJDPMPHÓB1PSUBMQSJODJQBMQBSBJOGPSNBDJØOTPCSFMPTIPOHPT
JODMVZFOEPMBTFTQFDJFTÞUJMFT#VFOQVOUPEFQBSUJEBQBSBJOWFTUJHBDJPOFTHFOFSBMFT
XXXNVTIXPSMEDPN
6OPEFMPTNÈTWJTJUBEPTEFMPTTJUJPTiDPNFSDJBMFTwJOWFTUJHBEPT&MBDDFTPFT
MJCSFVOBWF[RVFTFIBZBJOTDSJUP5JFOFSFQPSUFTTPCSFMBQSPEVDDJØOEFIPOHPT
DVMUJWBEPT
ZUJFOFVOBCVFOBDPCFSUVSBNVOEJBM
IUUQNZDPSSIJ[BBHVULFEV
%JSFDUPSJPJOUFSOBDJPOBMEFMPTi.JDPSSJ[ØMPHPTw5JFOFFOMBDFTIBDJBTJUJPTTPCSF
IPOHPTFDUPNJDPSSÓ[JDPTDPNFTUJCMFTFOVNFSBMPT<OPNCSFT>DJFOUÓGJDPTZUJFOF
NVDIBJOGPSNBDJØOCÈTJDB6OCVFOQVOUPEFSFGFSFODJBHFOFSBM
XXXJOEFYGVOHPSVNPSH
)FSSBNJFOUBEFSFGFSFODJBFTFODJBM$POUSPMBMPTOPNCSFTEFMBTFTQFDJFTEFUPEPTMPT
IPOHPTJODMVZFOEPMPTNBDSPIPOHPTUBNCJÏOMBTBVUPSJEBEFTDPSSFDUBT
IUUQHNSMBOEGPPEVOJNFMCFEV
BV_QMBOUT
(VÓBFOWBSJPTJEJPNBTEFMPTOPNCSFTEFMPTIPOHPTJODMVZFOEPFMDIJOP/PQPOF
ÏOGBTJTFTQFDJBMFOMPTIPOHPTTJMWFTUSFT
XXXNBMBXJGVOHJPSH
)POHPTTJMWFTUSFTÞUJMFTEF.BMBXJDPOVOBCBTFEFEBUPTEJTQPOJCMFEFMPTOPNCSFT
MPDBMFTZTVTDPSSFTQPOEJFOUFTOPNCSFTDJFOUÓGJDPT-PTJOGPSNFTEFMPTQSPZFDUPT
QVFEFOTFSEFTDBSHBEPTGPUPHSBGÓBTEFNVDIBTFTQFDJFTEJTQPOJCMFT
XXXJNBDDO
)POHPTFDPOØNJDPTEF$IJOB.VDIBTGPUPHSBGÓBTPSUPHSBGÓBDBQSJDIPTBEFMPT
OPNCSFTDJFOUÓGJDPT
XXXTFNBSOBUHPCNY
&YDFMFOUFTJUJPFOFTQB×PM
TVNJOJTUSBEFUBMMFTEFMPTQSJODJQBMFT)4$EF.ÏYJDP
JODMVZFOEPEFTDSJQDJPOFTEFUBMMBEBTZGPUPHSBGÓBT
XXXHS[ZCZQM
)POHPTDPNFTUJCMFTEF1PMPOJBDPOBMHVOPTUFYUPTFOJOHMÏT
IUUQGVOHJNBQSHCWJDHPWBV
*OGPSNBDJØOHFOFSBMTPCSFMBTFTQFDJFTDPNFTUJCMFTZWFOFOPTBTEF"VTUSBMJB
XXXGJOUSBDDPN
$POUJFOFEBUPTÞUJMFTTPCSFFMDPNFSDJPEFEFMBTFYQPSUBDJPOFTEFiIPOHPTw
BBMHVOPTQBÓTFTZQSJODJQBMNFOUFEFMBTFYQPSUBDJPOFTEFNBUTVUBLFTB+BQØO
XXXGVOHJDPN
'VOHJ1FSGFDUJVOBDPNQB×ÓBDPNFSDJBMFTQFDJBMJ[BEBFOMBDVMUJWBDJØOEFIPOHPT
HBTUSPOØNJDPTZNFEJDJOBMFT#VFOBJOGPSNBDJØOHFOFSBMZNVDIPTFOMBDFT
XXXNZDPQBUTMVTFNZDPSSIJ[B
FEJCMFIPNFQIUNM
)POHPTNJDPSSÓ[JDPTDPNFTUJCMFT)BOTJEPSFBMJ[BEBTEPTDPOGFSFODJBT
JOUFSOBDJPOBMFTZFTUFTJUJPCSJOEBJOGPSNBDJØOTPCSFFTUBTDIBSMBTZPUSPTBTVOUPTEF
JNQPSUBODJBHFOFSBMQBSBMPT)4$
XXXNVTISPPNUIFKPVSOBMDPN
&MQFSJØEJDPEFMBSFDPMFDDJØOEFIPOHPTQVCMJDBEPFO&TUBEPT6OJEPTDPOBSUÓDVMPT
EJTQPOJCMFTFOMÓOFB1SFTFOUBVOFOGPRVFNVZQSÈDUJDPZVOBOÈMJTJTEFMBSFDPMFDDJØO
EFIPOHPTZBVORVFFTUÏJODMJOBEPIBDJBMPTBGJDJPOBEPTEF&&66FYQMPSBUFNBT
NVOEJBMFTMFZFTEFSFDPMFDUPSFT
EFNBZPSJNQPSUBODJB
XXXGTGFEVT
*OGPSNBDJØOTPCSFMBDVMUJWBDJØODPNFSDJBMFOFM1BDÓGJDPOPSPFTUFEF&&66
JODMVZFOEPJOGPSNFTEFUBMMBEPTEFM#PTRVF/BDJPOBMEF8JOFNB
XXXXJMEVTFGVMGVOHJPSH
VOQÙCMJDPRVFWJWFFOMPTQBÎTFTEFTBSSPMMBEPTZUJFOFOQPSMPUBOUPVOVTPMJNJUBEP
FOMPTQBÎTFTFOWÎBTEFEFTBSSPMMP
)BZQPDPTMJCSPTRVFBCBSDBOMPTUFNBTEFMPT)4$FTQFDÎGJDBNFOUFEFTEFFMQVOUP
EFWJTUBEFMBQPCMBDJÓOZMBNBZPSQBSUFEFMBJOGPSNBDJÓOSFMFWBOUFFTUÃEJTQFSTBFOVO
BNQMJPSBEJPEFEJTDJQMJOBTNÃTJOGPSNBDJÓOFOFM$VBESP
-BNFKPSJOUSPEVDDJÓO
HFOFSBMBMPT)4$JODMVZFOEPEFUBMMFTÙUJMFTFTVOMJCSPQVCMJDBEPFO/VFWB;FMBOEB
)BMMFUBMB
6OBTFHVOEBFEJDJÓOEFFTUFMJCSPGVFQVCMJDBEBFO)BMMFU
BM
6OEJDDJPOBSJPTPCSFMPTIPOHPTDPNFTUJCMFTDPOUJFOFMBTMJTUBTEFNVDIBT
FTQFDJFTEFMPTQBÎTFTEFM4VSZEFM/PSUFEFMNVOEPJODMVZFOEPTVTOPNCSFTMPDBMFT
­TUBFTVOBSFGFSFODJBÙUJMQFSPOPFTFODJBM$IBOESB
-BTHVÓBTEFMPTQBÓTFT
.VDIBTHVÎBTEFDBNQPTFCBTBOFOMBTFTQFDJFTFODPOUSBEBTFOMBTSFHJPOFTUFNQMBEBT
)BZ VOB QMÊUPSB EF UBMFT HVÎBT FO &TUBEPT 6OJEPT Z MPT QBÎTFT EF &VSPQB EFM FTUF
FTUÃO JHVBMNFOUF CJFO QSPWFÎEPT -PT FKFNQMPT QSJODJQBMFT FTUÃO FOVNFSBEPT FO FM
$VBESP QFSP TF IBDF IJODBQJÊ FO MPT MJCSPT NFOPT DPOPDJEPT EF MPT QBÎTFT FO
EFTBSSPMMP-BNBZPSQBSUFEFFMMPTTFIBOBHPUBEPZTPOEJTQPOJCMFTTPMBNFOUFFOMBT
CJCMJPUFDBTFTQFDJBMJ[BEBT-BTHVÎBTQVCMJDBEBTFO&TUBEPT6OJEPTQFK"SPSB
Z&VSPQBQFK1IJMMJQTFUBM
UPEBWÎBQVFEFOTFSDPNQSBEBTPDPOTVMUBEBTFOMBT
CJCMJPUFDBT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
*/'03."$*»/40#3&-04)0/(04.&%*$*/"-&4:7&/&/0404
.VDIPTIPOHPTDPNFTUJCMFTUJFOFOUBNCJÊOQSPQJFEBEFTNFEJDJOBMFT&M*OUFSOBUJPOBM
+PVSOBMPG.FEJDJOBM.VTISPPNTFNQF[ÓTVQVCMJDBDJÓOFOZDPOUJFOFBSUÎDVMPTEF
SFWJTUBTBMJHVBMRVFDPOUSJCVDJPOFTPSJHJOBMFT6OCVFOSFTVNFOTPCSFFTUFBSHVNFOUP
TFFODVFOUSBFO)PCCT
4*5*048&#
-B *OUFSOFU FT VOB GVFOUF ÙUJM EF JOGPSNBDJÓO QFSP MB DBMJEBE Z QSFDJTJÓO EF FTUB
JOGPSNBDJÓO QVFEF TFS EJGÎDJM EF FWBMVBS &TDSJCB MB QBMBCSB iIPOHPu V iIPOHP
DPNFTUJCMFu FO VO NPUPS EF CÙTRVFEB QPS FKFNQMP (PPHMF XXXHPPHMFDPN
Z
BQBSFDFSÃ VOB FOPSNF DBOUJEBE EF EJSFDDJPOFT FMFDUSÓOJDBT -PT TJUJPT FOVNFSBEPT
FOFM$VBESPTPOVOQVOUPEFQBSUJEBQBSBMBJOWFTUJHBDJÓOZQSPQPSDJPOBOWBSJPT
FMFNFOUPT RVF JOEJDBO MP ÙUJM RVF IBO TJEP EVSBOUF MB QSFQBSBDJÓO EF FTUF MJCSP -B
NBZPSQBSUFEFMPTTJUJPTFOVNFSBEPTFOFM$VBESPIBDFOIJODBQJÊQSJNFSPFOMPT
IPOHPTZEFTQVÊTFOMPTVTPTQPSMBTQPCMBDJPOFTTJMPIBDFO
&M$VBESPFTTPMBNFOUFVOBTFMFDDJÓOEFMPTTJUJPTXFCEJTQPOJCMFTDPOJOGPSNBDJÓO
TPCSFMPT)4$1BSBCÙTRVFEBTNÃTEFUBMMBEBTEFMBJOGPSNBDJÓOEJTQPOJCMFQVCMJDBEB
OBEB QVFEF TVTUJUVJS MBT NJOVDJPTBT SFWJTUBT EF MJUFSBUVSB QFSJÓEJDPT Z PUSBT GVFOUFT
QVCMJDBEBT QSPGFTJPOBMNFOUF &M $VBESP JODMVZF FKFNQMPT EF TJUJPT XFC EF QBÎTFT
FTQFDÎGJDPTFJMVTUSBMBFYDFMFOUFJOGPSNBDJÓOEJTQPOJCMFQBSB.ÊYJDP
#JCMJPHSBGÓB
"BSPOTPO 4 'VOHJ &O ,' ,JQMF Z ,$ 0SOFMBT FET 5IF $BNCSJEHF XPSME
IJTUPSZPGGPPE1ÃHTm$BNCSJEHF3FJOP6OJEP$BNCSJEHF6OJWFSTJUZ1SFTT
1ÃHT
"CBUF%"HBSJDVTDBNQFTUSJTJOVQMBOE&UIJPQJB.ZDPMPHJTU
"CCPUU 1 /POUJNCFS GPSFTU QSPEVDUT IBSWFTUJOH MFTTPOT GPS TFBTPOBMMZTFOTJUJWF
NBOBHFNFOU JO NJPNCP &O .3 /HVMVCF - .XBCVNCB Z 1 $IJSXB FET (FTUJÓO
DPNVOBMEFMPTCPTRVFTEFNJPNCPFO.BMBXJ1ÃHTm"DUBTEFVOUBMMFSOBDJPOBM
4VOZ4BOE)PMJEBZ3FTPSU.BOHPDIJ.BMBXJEFTFQUJFNCSFEF;PNCB
.BMBXJ*OTUJUVUPEF*OWFTUJHBDJÓO'PSFTUBMEF.BMBXJ
"EIJLBSJ ,4 Z "EIJLBSJ ., 3FDPMFDDJÓO Z DPOTVNP EF IPOHPT TJMWFTUSFT
DPNFTUJCMFT WFOEJEPT FO FM WBMMF EF ,BUNBOEÙ /FQBM 5IF (FPHSBQIFST 1PJOU m
m
"EIJLBSJ ., 8JME SFMBUJWFT PG TPNF BSBCMF NVTISPPNT GPVOE JO /FQBM &O
/BUJPOBM $POGFSFODF PO 8JME 3FMBUJWFT PG $VMUJWBUFE 1MBOUT JO /FQBM 1ÃHT m
,BUNBOEÙ.JTJÓO(SFFO&OFSHZ
"EIJLBSJ ., Z %VSSJFV ( &UIOPNZDPMPHJF /ÊQBMBJTF #VMMFUJO 4PDJÊUÊ
.ZDPMPHJRVFEF'SBODFm
"EIJLBSZ3,#BSVBI1,BMJUB1Z#PSEPMPJ%&EJCMFNVTISPPNTHSPXJOHJO
UIFGPSFTUTPG"SVOBDIBM1SBEFTI"EWBODFTJO)PSUJDVMUVSFBOE'PSFTUSZ
m
"GZPO " .BDSPGVOHJ PG 4FZEJTFIJS EJTUSJDU ,POZB
5VSLJTI +PVSOBM PG #PUBOZ
m
"JOTXPSUI($*OUSPEVDUJPOUPUIFIJTUPSZPGNZDPMPHZ$BNCSJEHF3FJOP6OJEP
$BNCSJEHF6OJWFSTJUZ1SFTT1ÃHT
"MFYBOEFS*+Z)PHCFSH1&DUPNZDPSSIJ[BTPGUSPQJDBMBOHJPTQFSNPVTUSFFT/FX
1IZUPMPHJTU
m
"MFYBOEFS 4 1JM[ % 8FCFS /4 #SPXO & Z 3PDLXFMM 7" .VTISPPNT
USFFT BOE NPOFZ WBMVF FTUJNBUFT PG DPNNFSDJBM NVTISPPNT BOE UJNCFS JO UIF 1BDJGJD
/PSUIXFTU&OWJSPONFOUBM.BOBHFNFOU
m
"MFYJBEFT./FE4FMFDUFEHVJEFMJOFTGPSFUIOPCPUBOJDBMSFTFBSDIBGJFMENBOVBM
/VFWB:PSL&&66+BSEÎO#PUÃOJDPEF/VFWB:PSL1ÃHT
"MNPOE.&EEJF(FPSHFUBLFTPWFS6LSBJOF/FX4UBUFTNBOEFBCSJMEF
"M/BBNB/.&XB[F+0Z/FNB+)$IFNJDBMDPOTUJUVFOUTPG*SBRJUSVGGMFT
*SBRJ+PVSOBMPG"HSJDVMUVSBM4DJFODFT
m
"MPGF'70EFZFNJ0Z0LF0-5ISFFFEJCMFXJMENVTISPPNTGSPN/JHFSJB
UIFJSQSPYJNBUFBOENJOFSBMDPNQPTJUJPO1MBOU'PPETGPS)VNBO/VUSJUJPO
m
"MQIPOTF.&-FTDIBNQJHOPOTDPNFTUJCMFTE)BÐUJ1VFSUP1SÎODJQFDBTBFEJUPSJBM
EFTDPOPDJEB
"MTIFJLI".Z5SBQQF+.%FTFSUUSVGGMFTUIFHFOVT5JSNBOJB5SBOTBDUJPOTPG
UIF#SJUJTI.ZDPMPHJDBM4PDJFUZ
m
"OUPOJO7Z'SBJUVSF".BSBTNJVTIFJOFNBOOJBOVTBOFXFEJCMFTQFDJFTGSPN
#FOJO8FTU"GSJDB#FMHJBO+PVSOBMPG#PUBOZ
m
"SOPMET & $POTFSWBUJPO BOE NBOBHFNFOU PG OBUVSBM QPQVMBUJPOT PG FEJCMF GVOHJ
$BOBEJBO+PVSOBMPG#PUBOZ
m
"SPDIF3.$JGVFOUFT+-PSFB''VFOUFT1#POBWJEFT+(BMJDJB).FOÊOEF[
& "HVJMBS 0 Z 7BMFO[VFMB 7 .BDSPNJDFUPT WFOFOPTPT Z DPNFTUJCMFT EF VOB
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
SFHJÓO DPNVOBM EFM 7BMMF EF .ÊYJDP * #PMFUÎO EF MB 4PDJFEBE .FKJDBOB EF .JDPMPHÎB
m
"SPSB%.VTISPPNTEFNZTUJGJFE#FSLFMFZ$"&&665FO4QFFE1SFTT1ÃHT
"SPSB%5IFXBZPGUIFXJMENVTISPPN$BMJGPSOJB8JME
m
#BOEBMB7..POUPZB-Z$IBQFMB*)8JMEFEJCMFNVTISPPNTJO.FYJDPB
DIBMMFOHFBOEPQQPSUVOJUZGPSTVTUBJOBCMFEFWFMPQNFOU&O.&1BMNZ*)$IBQFMB
FET.ZDPMPHZJOTVTUBJOBCMFEFWFMPQNFOUFYQBOEJOHDPODFQUTWBOJTIJOHCPSEFST1ÃHT
m#PPOF/$&&661BSLXBZ1VCMJTIFST
#BQUJTUB'FSSFJSB +- 8IBUT HPJOH PO BCPVU DPOTFSWBUJPO PG GVOHJ JO 1PSUVHBM
&O $ 1FSJOJ FE $POTFSWBUJPO PG GVOHJ 1ÃHT m 4JFOB *UBMJB 6OJWFSTJEBE EF MPT
&TUVEJPTEF4JFOB
#BSOFUU $- #FSFTGPSE /" 'SBOLMBOE +$ 4FMG 1- )PXBSE #+ Z .BSSJPUU
+733BEJPDBFTJVNJOUBLFJO(SFBU#SJUBJOBTBDPOTFRVFODFPGUIFDPOTVNQUJPO
PGXJMEGVOHJ.ZDPMPHJTU
m
#BUSB -3 &EJCMF EJTDPNZDFUFT BOE HBTUFSPNZDFUFT PG "GHIBOJTUBO 1BLJTUBO BOE
OPSUIXFTUFSO*OEJB#JPMPHÎB-BIPSF
m
#BVFS1FUSPWTLB # +PSEBOPTLJ # 4UFGPW 7 Z ,VMFWBOPWB 4 *OWFTUJHBUJPO PG
EJFUBSZ GJCSF JO TPNF FEJCMF NVTISPPNT GSPN .BDFEPOJB /VUSJUJPO BOE 'PPE 4DJFODF
m
#FMDIFS#JOWFTUJHBDJÓO$*'03GPSFTUQSPEVDUTBOEQFPQMFSBUUBOJTTVFT&O'"0
1SPEVDUPT'PSFTUBMFT/P.BEFSFSPT3BUUBO$VSSFOUSFTFBSDIJTTVFTBOEQSPTQFDUTGPS
DPOTFSWBUJPOBOETVTUBJOBCMFEFWFMPQNFOU1ÃHTm+%SBOTGJFME'05FTPSPZ/
.BOPLBSBOFET3PNB'"0
#ÊSFMMF(0SHBOJTFSMFSBNBTTBHFEFTDIBNQJHOPOT0SHBOJ[BOEPMBSFDPMFDDJÓOEF
IPOHPT
'PSFUTEF'SBODF
#JSLT""'VOHJJOGPMLNFEJDJOF.D*MWBJOFB
m
#PB &3 )PX EP MPDBM QFPQMF NBLF VTF PG XJME FEJCMF GVOHJ /BSSBDJPOFT
QFSTPOBMFTEFTEF.BMBXJ&O*3)BMM:8BOH";BNCPOFMMJZ&%BOFMMFET&EJCMF
FDUPNZDPSSIJ[BM NVTISPPNT BOE UIFJS DVMUJWBUJPO "DUBT EF MB TFHVOEB DPOGFSFODJB
JOUFSOBDJPOBM TPCSF MPT IPOHPT FDUPNJDPSSÎ[JDPT DPNFTUJCMFT EF KVMJP EF $ISJTUDIVSDI $%30. $ISJTUDIVSDI /FX ;FBMBOE *OTUJUVUF GPS $SPQ BOE 'PPE
3FTFBSDI-JNJUFE
#PB &3 /HVMVCF . .FLF ( Z .VOUIBMJ $ &ET 'JSTU 3FHJPOBM 8PSLTIPQ
PO 4VTUBJOBCMF 6TF PG 'PSFTU 1SPEVDUT .JPNCP 8JME &EJCMF 'VOHJ ;PNCB .BMBXJ
*OTUJUVUPEF*OWFTUJHBDJÓO'PSFTUBMEF.BMBXJZ$"#*#JPTDJFODF1ÃHT
#PLIBSZ)"Z1BSWF[4$IFNJDBMDPNQPTJUJPOPGEFTFSUUSVGGMFT5FSGF[JBDMBWFSZJ
+PVSOBMPG'PPE$PNQPTJUJPOBOE"OBMZTJT
m
#PSVBI1"EIJLBSZ3,,BMJUB1Z#PSEPMPJ%4PNFFEJCMFGVOHJHSPXJOHJO
UIFGPSFTUPG&BTU,IBTJ)JMMT.FHIBMBZB
"EWBODFTJO'PSFTUSZ3FTFBSDIJO*OEJB
m
#PSVBI1Z4JOHI34&EJCMFGVOHJPGNFEJDJOBMWBMVFGSPNUIFFBTUFSO)JNBMBZB
SFHJPO*OUFSOBUJPOBM+PVSOBMPG.FEJDJOBM.VTISPPNT
#PVSJRVFU ( -FT QSJODJQBVY DIBNQJHOPOT EF .BEBHBTDBS 5FSSF .BMBHBDIF m
#SFFOF 8. /VUSJUJPOBM BOE NFEJDJOBM WBMVF PG TQFDJBMUZ NVTISPPNT +PVSOBM PG
'PPE1SPUFDUJPO
m
#SFTJOTLZ"Z#FTM)"DPMPVSBUMBTPGQPJTPOPVTGVOHJ-POESFT8PMGF
#VLPXTLJ 5 .VTISPPN HSPXJOH JO 1PMBOE &O .VTISPPN 4DJFODF *7 1ÃHT
m "DUBT EF MB DVBSUB DPOGFSFODJB JOUFSOBDJPOBM TPCSF MPT BTQFDUPT DJFOUÎGJDPT EFM
DSFDJNJFOUP EF MPT IPOHPT m EF KVMJP EF $PQFOIBHVF 0EFOTF %JOBNBSDB
"OEFMTCPHUSZLLFSJFU
#VMBLI&..FEJDJOBMNVTISPPNTPGUIF3VTTJBO'BS&BTUJOOBUVSF*OUFSOBUJPOBM
+PVSOBMPG.FEJDJOBM.VTISPPNT
#JCMJPHSBGÎB
#VMMFS ")3 5IF GVOHVT MPSFT PG UIF (SFFLT BOE 3PNBOT 5SBOTBDUJPOT PG UIF
#SJUJTI.ZDPMPHJDBM4PDJFUZ
m
#VSLIJMM*)"EJDUJPOBSZPGUIFFDPOPNJDQSPEVDUTPGUIF.BMBZ1FOJOTVMB-POESFT
$SPXO"HFOUTGPSUIF$PMPOJFT
#VULVT 7 +BTLPOJT * 6SCPOBT 7 Z $FSWPLBT 7 .JOPS GPSFTU SFTPVSDFT GSVJU
CFBSJOHQMBOUTNFEJDJOBMQMBOUTGVOHJ-JUVBOJB1ÃHT
#VZDL # B &DUPUSPQIZ JO USPQJDBM "GSJDBO FDPTZTUFNT &O +) 4FZBOJ Z "$
$IJLVOJ FET "DUBT EFM 9** FODVFOUSP QMFOBSJP EF "&5'"5 1ÃHT m ;PNCB
.BMBXJmEFBCSJMEF;PNCB.BMBXJ)FSCBSJP/BDJPOBMZ+BSEJOFT#PUÃOJDPT
EF.BMBXJ
#VZDL#C6CXPCB-FTDIBNQJHOPOTDPNFTUJCMFTEFM0VFTUEV#VSVOEJ#SVTFMBT
"ENJOJTUSBDJÓO(FOFSBMEF$PPQFSBDJÓOBM%FTBSSPMMP1ÃHT
#VZDL # 0CTFSWBDJPOFT QSFMJNJOBSFT TPCSF MB EJWFSTJEBE Z IÃCJUBU EF MBT 3VTTVMB
3VTTVMBMFT #BTJEJPNZDPUJOB
FO .BEBHBTDBS .JDPMPHJB F 7FHFUB[JPOF .FEJUFSSBOFB
m
$BHMBSJSNBL / 6OBM , Z 0UMFT 4 /VUSJUJPOBM WBMVF PG XJME FEJCMF NVTISPPNT
DPMMFDUFEGSPNUIF#MBDL4FBSFHJPOPG5VSLFZ.JDPMPHÎB"QMJDBEB*OUFSOBDJPOBM
m
$BNQCFMM#FE5IFNJPNCPJOUSBOTJUJPOXPPEMBOETBOEXFMGBSFJO"GSJDB#PHPS
*OEPOFTJB$FOUSP*OUFSOBDJPOBMEF*OWFTUJHBDJPOFT'PSFTUBMFT1ÃHT
$BP + 6O IPOHP TJMWFTUSF DPNFTUJCMF OVFWP 8ZOOFMMB TJMWJDPMB ;IPOHHVP
4IJZPOHKVO)POHPTDPNFTUJCMFTEF$IJOBBCJNPOUIMZKPVSOBM
m
$BWBMDBTFMMF#&EJCMFNVTISPPNQSPEVDUJPOJOGPSFTUWJMMBHFTPG5VSLFZ4ZSJBBOE
+PSEBO&O.FEJDJOBMBOEDVMJOBSZQMBOUTJOUIF/FBS&BTU"DUBTEFMNJUJOJOUFSOBDJPOBM
EFFYQFSUPT$BJSP'"0
$FSWFSB.Z$PMJOBT$$PNFSDJBMJ[BDJÓOEFTFUBTJMWFTUSFFOMBDJVEBEEF-MFJEB
&O'1VFSUBTZ.3JWBTFET"DUBTEFM*$POHSFTP'PSFTUBM)JTQBOP-VTP**$POHSFTP
'PSFTUBM&TQBÒPM*3"5*1ÃHTm1BNQMPOB&TQBÒBmEFKVOJPEF
$IBNCFSMBJO . &UIOPNZDPMPHJDBM FYQFSJFODFT JO 4PVUI 8FTU $IJOB .ZDPMPHJTU
m
$IBOESB"&MTFWJFSTEJDUJPOBSZPGFEJCMFNVTISPPNT#PUBOJDBMBOEDPNNPOOBNFT
JOWBSJPVTMBOHVBHFTPGUIFXPSME¦NTUFSEBN&MTFWJFS1ÃHT
$IBOH45.VTISPPNCJPMPHZBOENVTISPPNQSPEVDUJPO.VTISPPN+PVSOBMGPS
UIF5SPQJDT
m
$IBOH 45 8PSME QSPEVDUJPO PG DVMUJWBUFE FEJCMF BOE NFEJDJOBM NVTISPPNT JO
XJUI FNQIBTJT PO -FOUJOVT FEPEFT JO $IJOB *OUFSOBUJPOBM +PVSOBM PG .FEJDJOBM
.VTISPPNT
m
$IBOH 45 Z #VTXFMM +" (BOPEFSNB MVDJEVN m B NVTISPPNJOH NFEJDJOBM
NVTISPPN*OUFSOBUJPOBM+PVSOBMPG.FEJDJOBM.VTISPPNTm
$IBOH45Z.BP9)POHPTEF)POH,POH)POH,POH6OJWFSTJEBE$IJOBEF
)POH,POH1ÃHT
$IBOH 45 Z .JMFT 1( 5FOEFODJBT NVOEJBMFT FO MB QSPEVDDJÓO EF IPOHPT
DVMUJWBEPTDPNFTUJCMFT.VTISPPN+PVSOBM
m
$IFO ;$ %JTUSJCVUJPO PG "HBSJDBMFT JO 5BJXBO 5SBOTBDUJPOT PG UIF .ZDPMPHJDBM
4PDJFUZPG3FQVCMJDPG$IJOB
m
$IJCJTPW(Z%FNJEPWB/1SPEVDUPTGPSFTUBMFTOPNBEFSFSPTZTVJOWFTUJHBDJÓO
FO "SLIBOHFMTL 3VTJB &O )( -VOE # 1BKBSJ Z . ,PSIPOFO FET 4VTUBJOBCMF
EFWFMPQNFOU PG OPOXPPE HPPET BOE CFOFGJUT GSPN CPSFBM BOE DPME UFNQFSBUF GPSFTUT
1ÃHTm"DUBTEFMUBMMFSJOUFSOBDJPOBM+PFOTVV'JOMBOEJBmEFFOFSPEF
&'*1SPDFFEJOHT/P
$IJO ') B &EJCMF BOE QPJTPOPVT GVOHJ GSPN UIF GPSFTUT PG 4BSBXBL 1BSU 5IF
4BSBXBL.VTFVN+PVSOBM
m
$IJO ') C &EJCMF BOE QPJTPOPVT GVOHJ GSPN UIF GPSFTUT PG 4BSBXBL 1BSU 5IF
4BSBXBL.VTFVN+PVSOBM
m
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$PDISBO ,8 &OWFOFOBNJFOUPT EFCJEP B IPOHPT NBM JEFOUJGJDBEPT .D*MWBJOFB
m
$PMFOTP8m0OB/FX;FBMBOEGVOHVTUIBUIBTPGMBUFZFBSTCFDPNFBWBMVBCMF
BSUJDMF PG DPNNFSDF 3FQPSU BOE 5SBOTBDUJPOT PG UIF 1FO[BODF /BUVSBM )JTUPSZ BOE
"OUJRVBSJBO4PDJFUZQÃHTm
$SJTBO&7Z4BOET"/VUSJUJPOBMWBMVF&O45$IBOH:8")BZFTFET5IFCJPMPHZ
BOEDVMUJWBUJPOPGFEJCMFGVOHJQÃHTm/VFWB:PSL&&66"DBEFNJD1SFTT
%BWJT + -B JOEVTUSJB EF MPT IPOHPT DPNFTUJCMFT Z NFEJDJOBMFT FO "VTUSBMJB
*OUFSOBUJPOBM+PVSOBMPG.FEJDJOBM.VTISPPNT
m
%BWJT80OF3JWFS/VFWB:PSL&&664JNPOZ4DIVTUFSQÃHT
EF#FFS+Z;BLIBSFOLPW"5JHFSTNVTISPPNTBOECPOBO[BTJOUIF3VTTJBO'BS
&BTUUIF6EFHFATDBNQBJHOGPSFDPOPNJDTVSWJWBMBOEDPOTFSWBUJPO&O18PMWFLBNQ
"% 6TIFS 7 1BSBOKQZF Z . 3BNOBUI FET 'PSFTUT GPS UIF GVUVSF MPDBM TUSBUFHJFT
GPS GPSFTU QSPUFDUJPO FDPOPNJD XFMGBSF BOE TPDJBM KVTUJDF QÃHT m -POESFT ;FE
#PPLT
%F(FVT/#PUBOJDBMGPSFTUQSPEVDUTJO#SJUJTI$PMVNCJB"OPWFSWJFX7JDUPSJB
#$$BOBEÃ#SJUJTI$PMVNCJB.JOJTUSZPG'PSFTUT
%FHSFFG + *OWFOUBJSF WBMFVS BMJNFOUBJSF FU DVMUVSF EF DIBNQJHOPOT EV 4IBCB
.ÊNPJSF GJO EÊUVEFT $IBJSF E&DPMPHJF FU 1IZUPTPDJPMPHJF 'BD 4DJFODFT "HSPO EF
(FNCMPVY#ÊMHJDB
%FHSFFG + .BMBJTTF ' 3BNNFMPP + Z #BVEBSU & &EJCMF NVTISPPNT PG UIF
;BNCF[JBOXPPEMBOEBSFBBOVUSJUJPOBMBOEFDPMPHJDBMBQQSPBDI#"4&#JPUFDIOPMPHJF
"HSPOPNJF4PDJFUFFU&OWJSPOOFNFOU
m
%F ,FTFM " $PEKJB +5$ Z :PSPV 4/ (VJEF EFT DIBNQJHOPOT DPNFTUJCMFT EV
#ÊOJO $PUPOPV 3FQÙCMJDB EF #FOJO +BSEÎO #PUÃOJDP /BDJPOBM EF #ÊMHJDB Z $FOUSP
*OUFSOBDJPOBM EF &DPEFTBSSPMMP JOUFHSBEP $&$0%*
*NQS $PDP.VMUJNFEJB QÃHT
%F-FÓO3)POHPTDVMUJWBEPTDPNFTUJCMFTZNFEJDJOBMFTEF(VBUFNBMBEJTQPOJCMF
FOFMTJUJPXXXNVTIXPSMEDPN
%FNJSCBT""DDVNVMBUJPOPGIFBWZNFUBMTJOTPNFFEJCMFNVTISPPNTGSPN5VSLFZ
'PPE$IFNJTUSZ
m
%FTDIBNQT+3)POHPTTJMWFTUSFTDPNFTUJCMFTEFM.&3$0463DPOWBMPSHBTUSPOÓNJDP
%PDVNFOUPTEFUSBCBKP/P6OJWFSTJEBEEF#FMHSBOP"SHFOUJOBQÃHT
%JBNBOEJT4$POTFSWBUJPOPGGVOHJJO(SFFDF&O$1FSJOJFE$POTFSWBUJPOPG
'VOHJQÃHTm4JFOB*UBMJB6OJWFSTJEBEEFMPT&TUVEJPTEF4JFOB
%JEVLI*".VTISPPNTJOGPMLNFEJDJOFPGUIFFBTUFSO4MBWT*OUFSOBUJPOBM+PVSOBM
PG.FEJDJOBM.VTISPPNT
%POH.Z4IFO"4UVEJFTPO-BDUBSJVTDBNQIPSBUVT#JPMPHJDBMDIBSBDUFSJTUJDT
PG-DBNQIPSBUVT;IPOHHVP4IJZPOHKVO&EJCMFGVOHJPG$IJOBBCJNPOUIMZKPVSOBM
m
%VDPVTTP.#B".Z5IPFO%&DUPNZDPSSIJ[BMGVOHJBTTPDJBUFEXJUIOBUJWF
BOE QMBOUFE USFF TQFDJFT JO 8FTU "GSJDB B QPUFOUJBM TPVSDF PG FEJCMF NVTISPPNT &O *3)BMM:8BOH";BNCPOFMMJZ&%BOFMMFET&EJCMFFDUPNZDPSSIJ[BMNVTISPPNT
BOE UIFJS DVMUJWBUJPO "DUBT EF MB TFHVOEB DPOGFSFODJB JOUFSOBDJPOBM TPCSF MPT IPOHPT
NJDPSSÎ[JDPT DPNFTUJCMFT +VMJP $ISJTUDIVSDI $%30. $ISJTUDIVSDI /FX
;FBMBOE*OTUJUVUFGPS$SPQBOE'PPE3FTFBSDI-JNJUFE
%VELB *" Z 8BTTFS 41 )POHPT 6O MJCSP EF SFGFSFODJBT QBSB MPT NJDÓMPHPT Z
SFDPMFDUPSFTEFIPOHPTFOSVTP
,JFW/BVLPWB%VNLB1SFTTQÃHT
%ZLF"+Z/FXUPO"$$PNNFSDJBMIBSWFTUJOHPGXJMENVTISPPNTJO4DPUUJTI
GPSFTUTJTJUTVTUBJOBCMF 4DPUUJTI'PSFTUSZ
m
&HMJ4"ZFS'Z$IBUFMBJO'%JF#FTDISFJCVOHEFS%JWFSTUBUWPO.BLSPNZ[FUFO
&SGBISVOHFO BVT QJM[POLPMPHJTDIFO -BOH[FJUTUVEJFO JN 1JM[SFTFSWBU -B $IBOÊB[ '3
.JDPMPHÎB)FMWÊUJDB
m
#JCMJPHSBGÎB
&MDIJCBFW "" 4FEPCOZF HSJCZ ,JSHJ[JJ <)POHPT DPNFTUJCMFT EF ,JSHIJ[ 443>
,JSHJ[TLPJ443*[EBUFMTUWP"LBEFNJJ/BVLQÃHT
&SFJGFK ,* Z "M3BEEBE ". *EFOUJGJDBUJPO BOE RVBMJUZ FWBMVBUJPO PG UXP XJME
NVTISPPNTJOSFMBUJPOUP"HBSJDVTCJTQPSVTGSPN+PSEBO&O-7BO(SJFOTWFOFE4DJFODF
BOE DVMUJWBUJPO PG FEJCMF GVOHJ QÃHT m "DUBT EFM  $POHSFTP *OUFSOBDJPOBM
TPCSF MB $JFODJB Z $VMUJWBDJÓO EF MPT )POHPT $PNFTUJCMFT .BBTUSJDIU 1BÎTFT #BKPT
mEFNBZPEF
&SUSVH'"OFUIOPCPUBOJDBMTUVEZJO$FOUSBM"OBUPMJB5VSLFZ
&DPOPNJD#PUBOZ
m
&ULJO /- Z +PIOT 5 A1IBSNBGPPET BOE A/VUSJDFVUJDBMT QBSBEJHN TIJGUT JO
CJPUIFSBQFVUJDT &O )7 1SFOEFSHBTU /- &ULJO %3 )BSSJT Z 1+ )PVHIUPO FET
1MBOUTGPSGPPEBOENFEJDJOFQÃHTm,FX-POESFT+BSEJOFT#PUÃOJDPT3FBMFT
&WBOT-8IZTPNBOZQPJTPOJOHTJO3VTTJB DBSUBT
+PVSOBMPG8JME.VTISPPNJOH
'"0 B $PTFDIB EF IPOHPT FO MB 7** SFHJÓO EF $IJMF &TUVEJP NPOPHSÃGJDP EF
FYQMPUBDJÓOGPSFTUBMm3PNB'"0QÃHT
'"0C$PNFSDJPJOUFSOBDJPOBMEFQSPEVDUPTGPSFTUBMFTOPNBEFSFSPTSFTVNFOQPS.
*RCBM%PDVNFOUPTEF5SBCBKP.JTD3PNBQÃHT
'"0 B 1SJODJQBMFT QSPEVDUPT GPSFTUBMFT OP NBEFSFSPT FO $IJMF QPS + $BNQPT
4BOUJBHP
'"0 C /POXPPE GPSFTU QSPEVDUT GSPN DPOJGFST QPS 8. $JFTMB 1SPEVDUPT
'PSFTUBMFTOP.BEFSFSPT3PNBQÃHT
'"0 B &WBMVBDJÓO EF MPT SFDVSTPT EF QSPEVDUPT GPSFTUBMFT OP NBEFSFSPT FYQFSJFODJB
ZQSJODJQJPTCJPNÊUSJDPT1PS+8POH,5IPSOCFSZ/#BLFS1SPEVDUPT'PSFTUBMFTOP
.BEFSFSPT3PNBQÃHT
'"0C1SPEVDUPTGPSFTUBMFTOPNBEFSFSPTFO¦GSJDBQFSTQFDUJWBOBDJPOBMZSFHJPOBM
CZ48BMUFS3PNBQÃHT
'ÊEÊSBUJPO'SBOÉBJTFEFT5SVGGJDVMUFVST4DJFODFFUDVMUVSFEFMBUSVGGF"DUBTEFM7
$POHSFTP*OUFSOBDJPOBMmEFNBS[PEF"JYFO1SPWFODF'SBODJBQÃHT
'JEBMHP0Z1SBODF(55IFFUIOPNZDPMPHZPGUIF4BOBNB*OEJBOT .JDPMPHÎB
m
'JMJQPW % .VTISPPN TFBTPO IBT 3VTTJBOT JO GVOHJ GSFO[Z #PTUPO (MPCF EF
TFQUJFNCSFEF
'MPSFT 3 #SBO .E$ Z )POSVCJB . &EJCMF NZDPSSIJ[BM NVTISPPNT PG UIF
XFTU )JHIMBOE (VBUFNBMB &O *3 )BMM : 8BOH " ;BNCPOFMMJ Z & %BOFMM FET
&EJCMFFDUPNZDPSSIJ[BMNVTISPPNTBOEUIFJSDVMUJWBUJPO"DUBTEFMBTFHVOEBDPOGFSFODJB
JOUFSOBDJPOBMTPCSFMPTIPOHPTNJDPSSÎ[JDPTDPNFTUJCMFT+VMJP$ISJTUDIVSDI$%
30.$ISJTUDIVSDI/FX;FBMBOE*OTUJUVUFGPS$SPQBOE'PPE3FTFBSDI-JNJUFE
'SBODP.PMBOP " "MEBOB(ÓNF[ 3 Z )BMMJOH 3& 4FUBT EF $PMPNCJB
"HBSJDBMFT #PMFUBMFT Z PUSPT IPOHPT (VÎB EF $BNQP .FEFMMÎO $PMPNCJB
$0-$*&/$*"46OJWFSTJEBEEF"OUJPRVJBQÃHT
'SBORVFNPOU$1MPXNBO5'SBORVFNPOU&,JOH43/JF[HPEB$%BWJT8
Z4QFSMJOH$3-BFUOPCPUÃOJDBEF$IJODIFSPVOBDPNVOJEBEBOEJOBBMTVSEF
1FSÙ'JFMEJBOB
m
(BNVOEÎ * Z )PSBL & )POHPT EF MPT CPTRVFT BOEJOPQBUBHPOFT #VFOPT "JSFT
7Ã[RVF[.B[[JOJ&EJUPSFTQÃHT
(BSEF[J 3" "HBSJD GVOHJ GSPN 3BXBMBLPU "[BE ,BTINJS 4BSIBE +PVSOBM PG
"HSJDVMUVSF
m
(FDBO+4Z$JDIPXJD[4.5PYJDNVTISPPNDPOUBNJOBUJPOPGXJMENVTISPPNT
JODPNNFSDJBMEJTUSJCVUJPO+PVSOBMPG'PPE1SPUFDUJPO
m
(POH$-Z1FOH(1$VMUVSFPG$PSEZDFQTNJMJUBSJTPO$IJOFTFTJMLXPSNTBOE
UIFBOBMZTJTPGJUTDPNQPOFOUT;IPOHHVP4IJZPOHKVO)POHPT$PNFTUJCMFTEF$IJOBB
CJNPOUIMZKPVSOBM
m
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
(SVOFSU)Z(SVOFSU3(PNCÃL<4FUBT>#VEBQFTU.BHZBS,POZWLMVC
(S[ZNBMB4-FTSFDIFSDIFTTVSMBGSÊRVFODFEFTJOUPYJDBUJPOTQBSMFTDIBNQJHOPOT
#VMM.FE-ÊHBMF
m
(S[ZXOPXJD[ , .FEJDJOBM NVTISPPNT JO 1PMJTI GPML NFEJDJOF *OUFSOBUJPOBM
+PVSOBMPG.FEJDJOBM.VTISPPNT
(VOBUJMMFLF*"6/(VOBUJMMFLF$74Z"CFZHVOBXBSEFOB1*OUFSEJTDJQMJOBSZ
SFTFBSDIUPXBSETNBOBHFNFOUPGOPOUJNCFSGPSFTUSFTPVSDFTJOMPXMBOESBJOGPSFTUTPG
4SJ-BOLB&DPOPNJD#PUBOZ
m
(VOBXBO"86TBIBQFNCJCJUBOKBNVS<IPOHPTFODSFDJNJFOUP>:BLBSUB1FOFCBS
4XBEBZBQÃHT
(V[NÃO(-PTOPNCSFTEFMPTIPOHPTZMPSFMBDJPOBEPDPOFMMPTFO"NÊSJDB-BUJOB
JOUSPEVDDJÓO B MB FUOPNJDPCJPUB Z NJDPMPHÎB BQMJDBEB EF MB SFHJÓO 4JOPOJNJB WVMHBS Z
DJFOUÎGJDB
+BMBQB7FSBDSV[$0/"#*0m*OTUJUVUPEF&DPMPHÎB
(V[NÃO ( .FEJDJOBM GVOHJ JO .FYJDP USBEJUJPOT NZUIT BOE LOPXMFEHF
*OUFSOBUJPOBM+PVSOBMPG.FEJDJOBM.VTISPPNT
)BMM*Z8BOH:5SVGGMFTBOEPUIFSFEJCMFNZDPSSIJ[BMNVTISPPNTmTPNFOFX
DSPQTGPSUIFTPVUIFSOIFNJTQIFSF&O*3)BMM:8BOH";BNCPOFMMJZ&%BOFMMFET
&EJCMFFDUPNZDPSSIJ[BMNVTISPPNTBOEUIFJSDVMUJWBUJPO"DUBTEFMBTFHVOEBDPOGFSFODJB
JOUFSOBDJPOBM TPCSF MPT IPOHPT FDUPNJDPSSÎ[JDPT DPNFTUJCMFT +VMJP $ISJTUDIVSDI
$%30.$ISJTUDIVSDI/FX;FBMBOE*OTUJUVUFGPS$SPQBOE'PPE3FTFBSDI-JNJUFE
)BMM*;BNCPOFMMJ"Z1SJNBWFSB&&DUPNZDPSSIJ[BMGVOHJXJUIFEJCMFGSVJUJOH
CPEJFT5VCFSNBHOBUVN5VCFSBDFBF&DPOPNJD#PUBOZ
m
)BMM *3 #VDIBOBO 1, 8BOH : Z $PMF "-+ B &EJCMF BOE QPJTPOPVT
NVTISPPNT BO JOUSPEVDUJPO $ISJTUDIVSDI /FX ;FBMBOE *OTUJUVUF GPS $SPQ BOE 'PPE
3FTFBSDI-JNJUFEQÃHT
)BMM*3-ZPO"+&8BOH:Z4JODMBJS-C&DUPNZDPSSIJ[BMGVOHJXJUIFEJCMF
GSVJUJOHCPEJFT#PMFUVTFEVMJT&DPOPNJD#PUBOZ
m
)BMM *3 4UFQIFOTPO 4 #VDIBOBO 1 8BOH : Z $PMF "-+ &EJCMF BOE
QPJTPOPVTNVTISPPNTPGUIFXPSME1PSUMBOE0SFHPO&&665JNCFS1SFTT
)BMMJOH 3& 3FDPNNFOEBUJPOT GPS DPMMFDUJOH NVTISPPNT &O ./ "MFYJBEFT
4FMFDUFE HVJEFMJOFT GPS FUIOPCPUBOJDBM SFTFBSDI B GJFME NBOVBM QÃHT m /VFWB
:PSL&&66+BSEÎO#PUÃOJDPEF/VFWB:PSL
)ÅSLÕOFO.5SBJOJOHQFPQMFUPDPMMFDUBOETFMMOBUVSBMQSPEVDUTJO'JOMBOE"DUB
#PUBOJDB'FOOJDB
m
)ÅSLÕOFO."OFUIOPNZDPMPHJDBMBQQSPBDIUP5BO[BOJBOTQFDJFTPG"NBOJUB"DUB
6OJWFSTJUBT6QQTBMB4ZNC#PU6QT
m
)ÅSLÕOFO.6TFTPGNVTISPPNTCZ'JOOTBOE,BSFMJBOT*OUFSOBUJPOBM+PVSOBMPG
$JSDVNQPMBS)FBMUI
m
)ÅSLÕOFO . 5IF GBCVMPVT GPSFTUT PG 4PVUIFSO $IJOB BT B DPPQFSBUJWF GJFME PG
FYQMPSBUJPO6OJWFSTJUBT)FMTJOHJFOTJT<9*9>m
)ÅSLÕOFO.3FDPMFDDJÓOEFIPOHPTFO5BO[BOJBZ)VOBOTVSEF$IJOB
TBCJEVSÎB
IFSFEBEB Z GPMLMPSF EF EPT DVMUVSBT EJGFSFOUFT &O 3 8BUMJOH +$ 'SBOLMBOE ".
"JOTXPSUI4*TBBDZ$)3PCJOTPOFET5SPQJDBMNZDPMPHZ7PM.BDSPNZDFUFTQÃHT
m8BMMJOHGPSE3FJOP6OJEP$"#*OUFSOBUJPOBM
)ÅSLÕOFO . Z +ÅSWJOFO * &WBMVBUJPO PG DPVSTFT GPS NVTISPPN BEWJTPST JO
'JOMBOE"RVJMP4FS#PUBOJDBm
)ÅSLÕOFO./JFNFMÅ5Z.XBTVNCJ-5BO[BOJBONVTISPPNT&EJCMFIBSNGVM
BOEPUIFSGVOHJ/PSSMJOFB)FMTJOLJ.VTFP#PUÃOJDP.VTFP'JOMBOEÊTEF)JTUPSJB
/BUVSBMQÃHT
)ÅSLÕOFO.4BBSJNÅLJ5Z.XBTVNCJ-B&EJCMFBOEQPJTPOPVTNVTISPPNTPG
5BO[BOJB5IF"GSJDBO+PVSOBMPG.ZDPMPHZBOE#JPUFDIOPMPHZ
m
)ÅSLÕOFO . 4BBSJNÅLJ 5 Z .XBTVNCJ - C 5BO[BOJBO NVTISPPNT BOE UIFJS
VTFT4PNFSFEEJTIFEJCMFBOEQPJTPOPVT"NBOJUBTQFDJFT,BSTUFOJB
m
#JCMJPHSBGÎB
)ÅSLÕOFO . 4BBSJNÅLJ 5 Z .XBTVNCJ - &EJCMF NVTISPPNT PG 5BO[BOJB
,BSTUFOJBTVQQMFNFOU
)ÅSLÕOFO.4BBSJNÅLJ5.XBTVNCJ-Z/JFNFMB5$PMFDDJÓOEFMQBUSJNPOJP
NJDPMÓHJDPEF5BO[BOJBDPNPGPSNBEFDPPQFSBDJÓOBMEFTBSSPMMPFOUSFMBTVOJWFSTJEBEFT
EF)FMTJOLJZ%BSFT4BMBBN"RVJMP4FS#PUBOJDB
m
)BSTI/4,3BJ#,Z"ZBDIJ44'PSFTUGVOHJBOEUSJCBMFDPOPNZmBDBTFTUVEZ
JO#BJHBUSJCFPG.BEIZB1SBEFTI<*OEJB>+PVSOBMPG5SPQJDBM'PSFTUSZ
m
)BSTI /4, 3BJ #, Z 4POJ 7, 4PNF FUIOPNZDPMPHJDBM TUVEJFT GSPN
.BEIZB 1SBEFTI *OEJB &O + 4JOHI Z ,3 "OFKB FET 'SPN FUIOPNZDPMPHZ UP GVOHBM
CJPUFDIOPMPHZQÃHTm/VFWB:PSL&&661MFOVN1SFTT
)BSTI/4,5JXBSJ$,Z3BJ#,'PSFTUGVOHJJOUIFBJEPGUSJCBMXPNFOPG
.BEIZB1SBEFTI<*OEJB>4VTUBJOBCMF'PSFTUSZ
m
)B[BOJ&5BJUFMNBO6Z4BTIB4."NBOJUBWFSOBQPJTPOJOHJO*TSBFMmJOGPSNF
EF VO DBTP SBSP GVFSB EFM UJFNQP Z EFM FTQBDJP "SDIJWFT PG 5PYJDPMPHZ 4VQMFNFOUP m
)F 9 7FSQB CPIFNJDB m B TFMEPN LOPXO BOE EFMJDJPVT FEJCMF GVOHVT ;IPOHHVP
4IJZPOHKVO)POHPT$PNFTUJCMFTEF$IJOBBCJNPOUIMZKPVSOBM
)FEHFS+4VJMMVTMVUFVTPOUIF&RVBUPS#VMMFUJOPGUIF#SJUJTI.ZDPMPHJDBM4PDJFUZ
m
)FJN 3 /PUF TVDDJODUF TVS MFT DIBNQJHOPOT BMJNFOUBJSFT EFT (BETVQ /PVWFMMF
(VJOÊF$BIJFSTEV1BDJGJRVF
m
)FZOF , %F /VUUJHF 1MBOUFO WBO /FEFSMBOETDI *OEJF F <MBT QMBOUBT ÙUJMFT EF
MBT JOEJBT PSJFOUBMFT IPMBOEFTBT> WPMT #BUBWJB %VUDI &BTU *OEJFT %FQBSUFNFOU WBO
-BOECPVX/JKWFSIFJEFO)BOEFMQÃHT
)FUUVMB " .VTISPPNT JO BODJFOU (SFFDF BOE 3PNF 0QVTDVMB *OTUJUVUJ 3PNBOJ
'JOMBOEJBF
m
)PCCT$.FEJDJOBMNVTISPPNTBOFYQMPSBUJPOPGUSBEJUJPOIFBMJOHBOEDVMUVSFB
FEJDJÓO4BOUB$SV[$"&&66#PUBOJDB1SFTTQÃHT
)VBOH//FXNFUIPEPGJODSFBTJOHQSPEVDUJPOPO3IJ[PQPHPOQJDFVTJOUIFTPVUI
PG'VKJBO1SPWJODF;IPOHHVP4IJZPOHKVO)POHPT$PNFTUJCMFTEF$IJOBBCJNPOUIMZ
KPVSOBM
PWFSBMM/P
)VBOH/&EJCMFGVOHJDZDMPQFEJB#FJKJOH"HSJDVMUVSBM1VCMJTIJOH)PVTFPG$IJOB
QÃHT
*NB[FLJ30UBOJ:)POHP5*[BXB.Z.J[VOP/'VOHJPG+BQBO5PLZP
:BNBLFJ
*PSEBOPW%7BOFW4(:'BLJSPWB7*(VCJUFW#VMHBSJZB0QSFEFMJUFMOBOBJ
SB[QSPTUSBOFOJUFZBEMJWJJPUSPWOJHVCJ<)POHPTEF#VMHBSJBDMBWFTQBSBMBJEFOUJGJDBDJÓO
EF MPT IPOHPT DPNFTUJCMFT Z WFOFOPTPT NÃT BNQMJBNFOUF EJTUSJCVJEPT> 4PGÎB *[EWP OB
#VMH"LBEOB/BVLJUF
*TJMPHMV . Z 8BUMJOH 3 .BDSPNZDFUFT PG .FEJUFSSBOFBO 5VSLFZ &EJOCVSHI
+PVSOBMPG#PUBOZ
m
*WBODFWJD#$POTFSWBUJPOPGGVOHJJO:VHPTMBWJB&O$1FSJOJFE$POTFSWBUJPOPG
GVOHJQÃHTm4JFOB*UBMJB6OJWFSTJEBEEFMPT&TUVEJPTEF4JFOB
+BDPCTPO,..BDSPGVOHBMFDPMPHZJOUIF/BNJCEFTFSUBGSVJUGVMPSGVUJMFTUVEZ .D*MWBJOFB
m
+BMLBOFO3Z+BMLBOFO&4UVEJFTPOUIFFGGFDUTPGTPJMTVSGBDFUSFBUNFOUTPODSPQPG
GBMTFNPSFM(ZSPNJUSBFTDVMFOUB
JOTQSVDFGPSFTUT,BSTUFOJBTVQMFNFOUP
m
+POFT&#(Z-JN(&EJCMFNVTISPPNTJO4JOHBQPSFBOEPUIFSTPVUIFBTU"TJBO
DPVOUSJFT.ZDPMPHJTUm
+POFT&#(8IBMMFZ"+4Z)ZXFM+POFT/-"GVOHVTGPSBZUP$IJBOH.BJ
NBSLFUJO/PSUIFSO5IBJMBOE.ZDPMPHJTU
m
,BMBNFFT,Z4JMWFS4'VOHBMQSPEVDUJWJUZPGQJOFIFBUITJO/PSUI8FTU&TUPOJB
"DUB#PUBOJDB'FOOJDB
m
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
,BMJOPXTLJ . 1SPEVDUPT GPSFTUBMFT OP NBEFSFSPT FO 1PMPOJB &O )( -VOE #
1BKBSJ Z . ,PSIPOFO FET 4VTUBJOBCMF EFWFMPQNFOU PG OPOXPPE HPPET BOE CFOFGJUT
GSPN CPSFBM BOE DPME UFNQFSBUF GPSFTUT QÃHT m "DUBT EFM 5BMMFS *OUFSOBDJPOBM
+PFOTVV'JOMBOEJBmEFFOFSPEF&'*1SPDFFEJOHT/P
,BMPUBT " "CPSJHJOBM LOPXMFEHF BOE VTF PG GVOHJ &O 'VOHJ PG "VTUSBMJB 7PM
# *OUSPEVDUJPO m 'VOHJ JO UIF FOWJSPONFOU QÃHT m $BOCFSSB &TUVEJP EF MPT
3FDVSTPT#JPMÓHJDPT"VTUSBMJBOPT
,BTJL(Z0[UVSL$"MHVOPTIPOHPTDPNFTUJCMFTOPDPNFTUJCMFTZWFOFOPTPTEF
"LTBSZ<FOUVSDP>5VSLJTI+PVSOBMPG#PUBOZ
m
,BUFOEF"#4FHBXB1Z#JSOJF"8JMEGPPEQMBOUTBOENVTISPPNTPG6HBOEB
/BJSPCJ3FHJPOBM-BOE.BOBHFNFOU6OJU"HFODJB4VFDBEF$PPQFSBDJÓO*OUFSOBDJPOBM
QBSBFM%FTBSSPMMPQÃHT
,BVM5/$POTFSWBUJPOPGNVTISPPNSFTPVSDFTJO*OEJB.VTISPPN3FTFBSDI
m
,BXBHPF 4 5IF NBSLFU GVOHJ PG +BQBO 5SBOTBDUJPOT PG UIF #SJUJTI .ZDPMPHJDBM
4PDJFUZ
m
,FFXBZEJOPRVBZ1VIQPIXFFGPSUIFQFPQMFBOBSSBUJWFBDDPVOUPGTPNFVTFTPGGVOHJ
BNPOH UIF "IOJTIJOBBCFH %FLBMC *MMJOPJT &&66 -&14 1SFTT /PSUIFSO *MMJOPJT
6OJWFSTJUZQÃHT
,JHFS$+&UVEFEFMBDPNQPTJUJPODIJNJRVFFUEFMBWBMFVSBMJNFOUBJSFEFFTQÍDFT
EFDIBNQJHOPOTTVQÊSJFVST3FWVFEF.ZDPMPHJF
m
,JN:4Z,JN44*MMVTUSBUFE,PSFBONVTISPPNT4FPVM:VQPPOH1VCMQÃHT
,JSL 1. $BOOPO 1' %BWJE +$ Z 4UBMQFST +" %JDUJPOBSZ PG UIF GVOHJ ‰
FEJDJÓO8BMMJOHGPSE3FJOP6OJEP$"#*OUFSOBUJPOBMQÃHT
,PJTUJOFO 3 5IF DPNNFSDJBM NVTISPPN ZJFME JO /PSUIFSO 'JOMBOE JO ,BSTUFOJBTVQMFNFOUP
m
,PP $% Z #JMFL &. 'JOBODJBM BOBMZTJT PG WFHFUBUJPO DPOUSPM GPS TVTUBJOBCMF
QSPEVDUJPOPG4POHZJ5SJDIPMPNBNBUTVUBLF
JO,PSFB+PVSOBMPG,PSFBO'PSFTU4PDJFUZ
m
,PWBMFOLP"5IFQSFTFOUTUBUFPGUIFDPOTFSWBUJPOPGGVOHJJO3VTTJB&O$1FSJOJ
FE $POTFSWBUJPO PG GVOHJ QÃHT m 4JFOB *UBMJB 6OJWFSTJEBE EF MPT &TUVEJPT EF
4JFOB
,SFVMB.4BBSJWJSUB.Z,BSBOLP4-0OUIFDPNQPTJUJPOPGOVUSJFOUTJOXJME
BOEDVMUJWBUFENVTISPPNT,BSTUFOJBm
,SPFHFS1.VTISPPNTJNQPSUFECZ(FSNBOZ.ZDFOB/FXT
,VKBMB . 5FO ZFBST PG JORVJSJFT PO UIF CFSSZ BOE NVTISPPN ZJFMET JO 'JOMBOE
m"DUB#PUBOJDB'FOOJDB
m
,ZUPWVPSJ * 5IF 5SJDIPMPNB DBMJHBUVN HSPVQ JO &VSPQF BOE /PSUI "GSJDB
,BSTUFOJB
m
-BNQF ,' Z "NNJSBUJ +' )VNBO QPJTPOJOH CZ NVTISPPNT JO UIF HFOVT
$PSUJOBSJVT.D*MWBJOFB
m
-BV0.FUIPETPGDIFNJDBMBOBMZTJTPGNVTISPPNT&O45$IBOHZ5)2VJNJP
FET5SPQJDBMNVTISPPNT#JPMPHJDBMOBUVSFBOEDVMUJWBUJPONFUIPETQÃHTm)POH
,POH$IJOFTF6OJWFSTJUZ1SFTT
-BXSZOPXJD[-$POTFSWBUJPOPGGVOHJJO1PMBOE&O$1FSJOJFE$POTFSWBUJPOPG
GVOHJQÃHTm4JFOB*UBMJB6OJWFSTJEBEEFMPT&TUVEJPTEF4JFOB
-FHH":PVSUPQUXFOUZGVOHJmUIFGJOBMMJTU.ZDPMPHJTU
m
-FPO(V[NÃO .' 4JMWB * Z -ÓQF[ .( 1SPYJNBUF DIFNJDBM DPNQPTJUJPO
GSFF BNJOP BDJE DPOUFOUT BOE GSFF GBUUZ BDJE DPOUFOUT PG TPNF FEJCMF NVTISPPNT GSPN
2VFSÊUBSP.ÊYJDP+PVSOBMPG"HSJDVMUVSBMBOE'PPE$IFNJTUSZ
m
-J;1$PNQBSJTPOPGNFEJDJOBMFGGFDUCFUXFFOXJME(BOPEFSNBBQQMBOBUVNBOE
DVMUJWBUFE(BOPEFSNBMVDJEVN;IPOHHVP4IJZPOHKVO)POHPT$PNFTUJCMFTEF$IJOBB
CJNPOUIMZKPVSOBM
m
#JCMJPHSBGÎB
-JODPGG ( 5IFSF BSF POMZ B EP[FO CBTJD HSPVQT .VTISPPN UIF +PVSOBM PG 8JME
.VTISPPNJOH
m
-JODPGG ( Z .JUDIFM %) 5PYJD BOE IBMMVDJOPHFOJD NVTISPPN QPJTPOJOH "
IBOECPPL GPS QIZTJDJBOT BOE NVTISPPN IVOUFST /VFWB :PSL &&66 7BO /PTUSBOE
3FJOIPME$PNQBOZQÃHT
-JV 1( *OWFTUJHBUJPO PG UIF FEJCMF NVTISPPN SFTPVSDFT PG .U %BRJOH PG *OOFS
.POHPMJB;IPOHHVP4IJZPOHKVO<)POHPT$PNFTUJCMFTEF$IJOB>
m
-JV81::BOH)3"OJOWFTUJHBUJPOPGNVTISPPNQPJTPOJOHJO/JOHIVBDPVOUZ
EVSJOHUIFMBTUZFBST$IJOFTF+PVSOBMPG1SFWFOUBUJWF.FEJDJOF
m
-PDRVJO . 6OF DIBOUFSFMMF DPNFTUJCMF EF MB $ÔUF E*WPJSF )ZHSPQIPSPQTJT
NBOHFOPUJJTQOPW+"HSJD#PU5SPQ"QQM
m
-PHFNBOO)"SHVFUB+(V[NÃO(.POUPZB#FMMP-#BOEBMB.VÒP[7.:
EF-FÓO$IPDPPK3&OWFOFOBNJFOUPNPSUBMQPSIPOHPTFO(VBUFNBMB3FWJTUB
.FYJDBOBEF.JDPMPHÎB
m
-ÓQF[("$SV[+..Z;BNPSB.BSUÎOF[.$&WBMVBDJÓOEFMBQSPEVDDJÓO
EF IPOHPT DPNFTUJCMFT TJMWFTUSFT FO 4BO +VBO 5FUMB 1VFCMB $JDMP *O 3FVOJÓO
$JFOUÎGJDB'PSFTUBMZ"HSPQFDVBSJBQÃHTm$PZPDÃO.ÊYJDP
-PXPSF+Z#PB&#PXBNBSLFUTMPDBMQSBDUJDFTBOEJOEJHFOPVTLOPXMFEHFPGXJME
FEJCMFGVOHJ&HIBN3FJOP6OJEP$"#*#JPTDJFODF
-PXPSF + .VOUIBMJ $ Z #PB & #PXB NBSLFUJOH DIBOOFMT BOE JOEJHFOPVT
LOPXMFEHFJO.[JNCB%JTUSJDU.BMBXJ&HIBN3FJOP6OJEP$"#*#JPTDJFODF
-PXZ#/FXSFDPSETPGNVTISPPNTUPOFTGSPN(VBUFNBMB.JDPMPHÎB
m
-PXZ#"NBOJUBNVTDBSJBBOEUIF5IVOEFSCPMUMFHFOEJO(VBUFNBMBBOE.FYJDP
.JDPMPHÎB
m
-VOE )( 1BKBSJ # Z ,PSIPOFO . 4VTUBJOBCMF EFWFMPQNFOU PG OPOXPPE
HPPETBOECFOFGJUTGSPNCPSFBMBOEDPMEUFNQFSBUFGPSFTUT"DUBTEFM5BMMFS*OUFSOBDJPOBM
+PFOTVV'JOMBOEmEFFOFSPEF&'*1SPDFFEJOHT/P+PFOTTV'JOMBOEJB
*OTUJUVUPEF#PTRVFT&VSPQFPT
.BMFODPO(Z#FSUBVMU3'MPSFEFTDIBNQJHOPOTTVQÊSJFVSTEV.BSPDWPMÙNFOFT
3BCBU'BDVMUBEEF$JFODJBT7PMQÃHT
.BMZJ-13FTPVSDFTPGFEJCMFGVOHJJO#FMPSVTTJB<#JFMPSSVTJB>BOEUIFQPTTJCJMJUZPG
UIFJSVUJMJ[BUJPO3BTUJUFMPOZF3FTVSTZ
m
.BP9-)POHPTFDPOÓNJDPTEF$IJOBFODIJOP
#FJKJOHQÃHT
.BP9--PTNBDSPIPOHPTEF$IJOB#FJKJOH)FOBO4DJFODFBOE5FDIOPMPHZ1SFTT
QÃHTEJTQPOJCMFFOXXXIDFJTDPN
.BP9-Z+JBOH$1&DPOPNJDNBDSPGVOHJPG5JCFU#FJKJOH#FJKJOH4DJFODFBOE
5FDIOPMPHZ1VCMJTIJOH)PVTFQÃHT
.BQFT $ (V[NÃO ( Z $BCFMMFSP + &MFNFOUT PG UIF 1VSFQFDIB NZDPMPHJDBM
DMBTTJGJDBUJPO+PVSOBMPG&UIOPCJPMPHZ
m
.BSLIBN 1 'VOHBM GPPE JO 'JKJ B TVTQJDJPVTMZ GBNJMJBS TUPSZ .ZDPMPHJTU m
.BSMFT3+$MBWFMMF$.POUFMFPOF-5BZT/Z#VSOT%"CPSJHJOBMQMBOUVTFJO
$BOBEBTOPSUIXFTUCPSFBMGPSFTU7BODPVWFS$BOBEÃ6OJWFSTJEBEEF$PMPNCJB#SJUÃOJDB
.BSUÎOF[ " 0SJB EF 3VFEB +" Z .BSUÎOF[ 1 &TUVEJP TPCSF MB QPUFODJBMJEBE
EFMPTEJGFSFOUFTVTPTEFMCPTRVFQBSBMBDSFBDJÓOEFFNQMFPZBDUJWJEBEFDPOÓNJDBFOFM
NFEJPSVSBMEF$BTUJMMB-FÓO*OGPSNFQBSBMB6OJWFSTJEBE+VOUBEF$BTUJMMBZ-FÓOZQBSB
FM'POEP4PDJBM&VSPQFPQÃHT
.BSUÎOF[$BSSFSB % "HVJMBS " .BSUÎOF[ 8 .PSBMFT 1 4PCBM . #POJMMB .
Z -BSRVF4BBWFESB " 6O NPEFMP TPTUFOJCMF QBSB MB QSPEVDDJÓO EF IPOHPT
DPNFTUJCMFTFO.ÊYJDP.JDPMPHÎB/FPUSPQJDBM"QMJDBEB
m
.BSUÎOF[$BSSFSB % #POJMMB . .BSUÎOF[ 8 4PCBM . "HVJMBS " Z 1FMMJDFS
(PO[ÃMF[ & $BSBDUFSJ[BDJÓO Z DVMUJWBDJÓO EF MBT FTQFDJFT TJMWFTUSFT "HBSJDVT FO
.ÊYJDP.JDPMPHÎB"QMJDBEB*OUFSOBDJPOBM
m
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
.BSUÎOF[$BSSFSB % 7FSHBSB ' +VÃSF[ 4 "HVJMBS " 4PCBM . .BSUÎOF[ 8 Z
-BSRVF4BBWFESB " 5FDOPMPHÎB TFODJMMB QBSB FM FOMBUBEP EF IPOHPT DVMUJWBEPT
DPNFTUJCMFT FO DPOEJDJPOFT SVSBMFT FO .ÊYJDP .JDPMPHÎB /FPUSPQJDBM "QMJDBEB m
.BSUÎOF[$BSSFSB%.PSBMFT11FMMJDFS(PO[ÃMF[&-FÓO)"HVJMBS"3BNÎSF[
1 0SUFHB 1 -BSHP " #POJMMB . Z (ÓNF[ . &TUVEJPT TPCSF MB HFTUJÓO
USBEJDJPOBMZFMQSPDFTBNJFOUPEFMPTNBUTVUBLFTFO0BYBDB.ÊYJDP.JDPMPHÎB"QMJDBEB
*OUFSOBDJPOBM
m
.BSUÎOF[EF"SBHÓO+'MPSJU&Z$PMJOBT$1SPEVDDJÓOEFTFUBTNJDPSSÎ[JDBTZ
DPNFTUJCMFTFOMBDPNBSDBEFM4PMTPOFTFO*O***'PSVNEF1PMÎUJDB'PSFTUBMQÃHT
m4PMTPOB-MFJEB
$FOUSP5FDOPMÓHJDP'PSFTUBMEF$BUBMVÒB
.BSUJOT"#BQUJTUB14PVTB.+.FJSFMFT5Z1BJT.4&EJCMFNZDPSSIJ[BM
GVOHJXJUI$BTUBOFBTBUJWBUSFFTJOUIFOPSUIFBTUPG1PSUVHBM&O*3)BMM:8BOH"
;BNCPOFMMJ Z & %BOFMM FET &EJCMF FDUPNZDPSSIJ[BM NVTISPPNT BOE UIFJS DVMUJWBUJPO
"DUBT EF MB TFHVOEB DPOGFSFODJB JOUFSOBDJPOBM TPCSF MPT IPOHPT FDUPNJDPSSÎ[JDPT
DPNFTUJCMFT+VMJP$ISJTUDIVSDI$%30.$ISJTUDIVSDI/FX;FBMBOE*OTUJUVUF
GPS$SPQBOE'PPE3FTFBSDI-JNJUFE
.BUB(*OUSPEVDDJÓOBMBFUOPNJDPMPHÎBNBZBEF:VDBUÃOFMDPOPDJNJFOUPEFMPT
IPOHPTFO1JYPZ7BMMBEPMJE3FWJTUB.FYJDBOBEF.JDPMPHÎB
m
.BUB..BDSPIPOHPTEF$PTUB3JDB7PMVNFO4BOUP%PNJOHPEF)FSFEJB$PTUB
3JDB*/#*0QÃHT
.BUB . )BMMJOH 3 Z .VFMMFS (. .BDSPIPOHPT EF $PTUB 3JDB 7PMVNFO 4BOUP%PNJOHPEF)FSFEJB$PTUB3JDB*/#*0QÃHT
.BUB)JEBMHP . .BDSPIPOHPT EF $PTUB 3JDB 4BO +PTÊ *OTUJUVUP /BDJPOBM EF
#JPEJWFSTJEBE
.BUTVL51JDLJOHUISPVHI3VTTJBTGJFMEPGBVUVNO5IF3VTTJB+PVSOBMEF
TFQUJFNCSF
.D,FO[JF&)$$PMMFDUGVOHJPOTUBNQT-POESFT4UBOMFZ(JCCPOT-UE
.D-BJO3+$ISJTUFOTFO))Z4IBOOPO."8IFOUIFBNBUFVSTBSFFYQFSUT
BNBUFVSNZDPMPHJTUTBOEXJMENVTISPPNQPMJUJDTJOUIF1BDJGJD/PSUIXFTU64"4PDJFUZ
GPS/BUVSBM3FTPVSDFT
m
.FJKFS""3.ZDPMPHJDBMXPSLJOUIF#SB[JMJBOTUBUFPG1BSBOÃ/PWB)FEXJHJB
m
.FOEP[B+.1IJMJQQJOFTNVTISPPNT1IJMJQQJOF+PVSOBMPG4DJFODF
mZ
JMVTUSBDJPOFT
.JMEI65IFPSHBOJ[BUJPOGPSDPMMFDUJOHGPSFTUNVTISPPNTJO'JOMBOE,BSTUFOJB
TVQMFNFOUP
m
.JOUFS % $BOOPO 1' Z 1FSFEP )- &TQFDJFT TVEBNFSJDBOBT EF $ZUUBSJB VO
HSVQPJNQPSUBOUFZCPOJUPEFBTDPNJDFUPTDPNFTUJCMFT
.ZDPMPHJTU
m
.PMJOB 3 0%FMM 5 -VPNB % "NBSBOUIVT . $BTUFMMBOP . Z 3VTTFMM ,
#JPMPHZ FDPMPHZ BOE TPDJBM BTQFDUT PG XJME FEJCMF NVTISPPNT JO UIF GPSFTUT PG
UIF 1BDJGJD OPSUIXFTU B QSFGBDF UP NBOBHJOH DPNNFSDJBM IBSWFTU 1PSUMBOE 0SFHPO
&&66%FQBSUBNFOUPEF"HSJDVMUVSBEFMPT&&664FSWJDJPT'PSFTUBMFT&TUBDJÓOEF
*OWFTUJHBDJÓOEFM1BDÎGJDP/PSPFTUFQÃHT
.PMJOB 3 7BODF / 8FJHBOE + 1JM[ % Z "NBSBOUIVT . 4QFDJBM GPSFTU
QSPEVDUT JOUFHSBUJOH TPDJBM FDPOPNJD BOE CJPMPHJDBM DPOTJEFSBUJPOT JOUP FDPTZTUFN
NBOBHFNFOU&O,,PIOZ+'SBOLMJOFET$SFBUJOHBGPSFTUSZGPSUIFTUDFOUVSZ5IF
TDJFODFPGFDPTZTUFNNBOBHFNFOUQÃHTm8BTIJOHUPO%$*TMBOE1SFTT
.POUPZB&TRVJWFM"&UOPNJDPMPHÎBEF5MBYDBMB.ÊYJDP.D*MWBJOFB
m
.POUPZB&TRVJWFM " &TUSBEB5PSSFT " ,POH " Z +VÃSF[4ÃODIF[ - $PNNFSDJBMJ[BUJPO PG XJME NVTISPPNT EVSJOH NBSLFU EBZT PG 5MBYDBMB .ÊYJDP
.JDPMPHÎB"QMJDBEB*OUFSOBDJPOBM
m
.PPSF".FFUJOH"TJBOQJDLFSTEJTQPOJCMFFOXXXNBUTJNBODPN
#JCMJPHSBGÎB
.PSFOP"SSPZP#3FDJP+.(ÓNF[+Z1VMJEP&5VCFSPMJHPTQFSNVNGSPN
.PSPDDP.ZDPMPHJTU
m
.PSFOP'VFOUFT " $JGVFOUFT + #ZF 3 Z 7BMFO[VFMB 3 ,VUFNPLPB VO
IPOHP DPNFTUJCMF EF MPT JOEJPT 3BSBNVSJ EF .ÊYJDP 3FWJTUB .FYJDBOB EF .JDPMPHÎB
m
.PSSJT#B.BDSPGVOHJPG.BMBXJTPNFFUIOPCPUBOJDBMOPUFT#VMMFUJOPGUIF#SJUJTI
.ZDPMPHJDBM4PDJFUZ
m
.PSSJT#C&MQSBHNBUJTNPEFMBDMBTJGJDBDJÓOQPQVMBS+PVSOBMPG&UIOPCJPMPHZ
m
.PSSJT#$PNNPONVTISPPNTPG.BMBXJ0TMP'VOHJGMPSBQÃHT
.PSSJT#.VTISPPNTGPSNFEJDJOFNBHJDBOENVODIJOH/ZBMB
m
.PSSJT # #PXB &UIOPNZDPMPHJDBM OPUFT PO UIF NBDSPGVOHJ PG .BMBXJ &O +)
4FZBOJZ"$$IJLVOJFET"DUBTEFM9***NJUJOQMPFOBSJPEF"&5'"5
m
;PNCB.BMBXJmEFBCSJMEF;PNCB.BMBXJ)FSCBSJP/BDJPOBMZ+BSEJOFT
#PUÃOJDPTEF.BMBXJ
.TIJHFOJ ,& Z $IBOH 45 FET " HVJEF UP TVDDFTTGVM NVTISPPN GBSNJOH XJUI
FNQIBTJT PO UFDIOPMPHJFT BQQSPQSJBUF BOE BDDFTTJCMF UP "GSJDBT SVSBM BOE QFSJVSCBO
DPNNVOJUJFT6/%16/014QSPZFDUPSFHJPOBM3"'8JOEIPFL6OJWFSTJEBE
EF/BNJCJBQÃHT
.VTISPPNUIF+PVSOBMPG8JME.VTISPPNJOH(PBIFBEBOEFBUUIFN.BUTVUBLFBSF
OPUFOEBOHFSFE
m
/BNHZFM 1 -B IJTUPSJB EFM IPOHP EF #VEB 5SJDIPMPNB NBUTVUBLF .BOVTDSJUP
JOÊEJUP5IJNQV#IVUBOQÃHT
/JFNFMB 5 Z 6PUJMB 1 -JHOJDPMPVT NBDSPGVOHJ GSPN 5VSLFZ BOE *SBO ,BSTUFOJB
m
/JFWFT3JWFSB".0SJHJOPGNZDPQIBHZJOUIF8FTU*OEJFT*OPDVMVNOFXTMFUUFS
PGUIF.ZDPMPHJDBM4PDJFUZPG"NFSJDB
m
/PWFMMJOP%5IFPNJOPVTTXJUDIGSPNJOEJHFOPVTGPSFTUNBOBHFNFOUUPDPOTFSWBUJPO
mUIFDBTFPGUIF#BUBLPO1BMBXBO*TMBOE1IJMJQQJOFT$PQFOIBHVF*8(*"
0CPEBJ . Z "QFUPSHCPS . "O FUIOPCPUBOJDBM TUVEZ PG NVTISPPN HFSNQMBTN
BOE JUT EPNFTUJDBUJPO JO UIF #JB #JPTQIFSF 3FTFSWF PG (IBOB *OGPSNF QSFTFOUBEP B MB
6/&4$0QPSNFEJPEFMB"HFODJBEF(IBOBQBSBMB1SPUFDDJÓOEFM.FEJP"NCJFOUF
"DDSB
0IFOPKB & .VTISPPNT BOE NVTISPPN ZJFMET JO GFSUJMJTFE GPSFTUT "DUB #PUBOJDB
'FOOJDB
m
0MMJLBJOFO 5 #FMBSVT GPSFTUSZ TUSBUFHJD QMBO BOE UIF OPOXPPE GPSFTU QSPEVDUT
&O )( -VOE # 1BKBSJ Z . ,PSIPOFO FET 4VTUBJOBCMF EFWFMPQNFOU PG OPOXPPE
HPPETBOECFOFGJUTGSPNCPSFBMBOEDPMEUFNQFSBUFGPSFTUTQÃHTm"DUBTEFM5BMMFS
*OUFSOBDJPOBM+PFOTVV'JOMBOEJBmEFFOFSPEF&'*1SPDFFEJOHT/P
0TP#.VTISPPNTBOEUIF:PSVCBQFPQMFPG/JHFSJB.ZDPMPHJB
m
0TP#.VTISPPNTJO:PSVCBNZUIPMPHZBOENFEJDJOBMQSBDUJDFT&DPOPNJD#PUBOZ
m
1BBM56UJMJTBUJPOBOESFTFBSDIPGOPOXPPEQSPEVDUTJOUIFGPSNFS4PWJFU6OJPO&O
)(-VOE#1BKBSJZ.,PSIPOFOFET4VTUBJOBCMFEFWFMPQNFOUPGOPOXPPEHPPETBOE
CFOFGJUTGSPNCPSFBMBOEDPMEUFNQFSBUFGPSFTUTQÃHTm"DUBTEFM5BMMFS*OUFSOBDJPOBM
+PFOTVV'JOMBOEJBmEFFOFSPEF&'*1SPDFFEJOHT/P
1BBM 5 #BZBT TJMWFTUSFT Z SFDVSTPT NJDÓUJDPT FO &TUPOJB Z TV FYQMPUBDJÓO
.FUTBOEVTMJLVE6VSJNVTFE
m
1BBM 5 Z 4BBTUBNPJOFO 0 /POXPPE QMBOU QSPEVDUT JO &TUPOJBO GPSFTUT &O
)(-VOE#1BKBSJZ.,PSIPOFOFET4VTUBJOBCMFEFWFMPQNFOUPGOPOXPPEHPPET
BOE CFOFGJUT GSPN CPSFBM BOE DPME UFNQFSBUF GPSFTUT QÃHT m "DUBT EFM 5BMMFS
*OUFSOBDJPOBM+PFOTVV'JOMBOEJBmEFFOFSP&'*1SPDFFEJOHT/P
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
1BLJTUBO&DPOPNJTU#SJHIUQSPTQFDUTGPSNVTISPPNFYQPSUTIPOHPTDPMNFOJMMB.
FTDVMFOUB
1BSFOU(Z5IPFO%'PPEWBMVFPGFEJCMFNVTISPPNTGSPN6QQFS4IBCBSFHJPO
&DPOPNJD#PUBOZ
m
1BSL8)Z-FF)%,PSFBONVTISPPNT4FPVM,ZP)BL4B
1BVMJ(2JOHZVBOUIFNVTISPPNDBQJUBMPGUIFXPSMEEJTQPOJCMFFOXXX[FSJPSH
OFXTBVHVTUBVH@DIJOIUN
1BVMJ ( 4VTUBJOBCMF EFWFMPQNFOU JO UIF "NB[PO GPSFTU EJTQPOJCMF FO
XXX[FSJPSH
1FFSBMMZ " 5SJDIPMPNB TQFDUBCJMJT VO FYDFMFOUF IPOHP DPNFTUJCMF HJHBOUF EF
.BVSJDJP &O + %FMNBT FE .VTISPPN TDJFODF 9 QÃHT m "DUBT EFM %ÊDJNP
$POHSFTP*OUFSOBDJPOBMTPCSF$JFODJBTZ$VMUJWBDJÓOEF)POHPT4JMWFTUSFT$PNFTUJCMFT
1FHMFS%/Z1JFBSDF(%-PTIPOHPTDPNFTUJCMFTEF;BNCJB,FX#VMMFUJO
m
1FHMFS%/Z7BOIBFDLF.5FSNJUPNZDFTEFMTVEFTUFBTJÃUJDP,FX#VMMFUJO
m
1FLLBSJOFO.Z.BMJSBOUB)1SFMJNJOBSZTUVEZPGUIFDPOTVNQUJPOPGNVTISPPNT
JO'JOMBOE,BSTUFOJBTVQMFNFOUP
m
1FSJOJ$FE$POTFSWBUJPOPGGVOHJJO&VSPQF"DUBTEFMNJUJOEFM$POTFKP&VSPQFP
QBSB MB DPOTFSWBDJÓO EF MPT IPOHPT 7JQJUFOP 4UFS[JOH *UBMJB
m EF TFQUJFNCSF EF
4JFOB*UBMJB6OJWFSTJEBEEFMPT&TUVEJPTEF4JFOBQÃHT
1IJMMJQT34IFBSFS-3FJE%Z3BZOFS3.VTISPPNTBOEPUIFSGVOHJPG(SFBU
#SJUBJOBOE&VSPQF-POESFT1BOQÃHT
1JFBSDF (% )POHPT EF ;BNCJB m DPTUVNCSFT Z GPMLMPSF #VMMFUJO PG UIF #SJUJTI
.ZDPMPHJDBM4PDJFUZ
m
1JFBSDF (% -JWJOHTUPOF BOE GVOHJ JO USPQJDBM "GSJDB #VMMFUJO PG UIF #SJUJTI
.ZDPMPHJDBM4PDJFUZ
m
1JMÃU".VTISPPNT-POESFT4QSJOH#PPLTQÃHT
1JM[%Z.PMJOB3$PNNFSDJBMIBSWFTUPGFEJCMFNVTISPPNTGSPNUIFGPSFTUTPGUIF
1BDJGJD/PSUIXFTU6OJUFE4UBUFTJTTVFTNBOBHFNFOUBOENPOJUPSJOHGPSTVTUBJOBCJMJUZ
'PSFTU&DPMPHZBOE.BOBHFNFOUm
1JM[ % 4NJUI + "NBSBOUIVT .1 "MFYBOEFS 4 .PMJOB 3 Z -VPNB % .VTISPPNT BOE UJNCFS .BOBHJOH DPNNFSDJBM IBSWFTUJOH JO UIF 0SFHPO $BTDBEFT
+PVSOBMPG'PSFTUSZm
1MVN1.%FONBSLOPOXPPEGPSFTUSZJOBEFOTFMZQPQVMBUFEUFNQFSBUFDPVOUSZ
&O )( -VOE # 1BKBSJ Z . ,PSIPOFO FET 4VTUBJOBCMF EFWFMPQNFOU PG OPOXPPE
HPPETBOECFOFGJUTGSPNCPSFBMBOEDPMEUFNQFSBUFGPSFTUTQÃHTm"DUBTEFM5BMMFS
*OUFSOBDJPOBM+PFOTVV'JOMBOEJBmEFFOFSPEF&'*1SPDFFEJOHT/P
1PQ"#SFWFJOGPSNFTPCSFMBDPOTFSWBDJÓOEFMPTIPOHPTFO3VNBOJB&O$1FSJOJ
FE$POTFSWBUJPOPGGVOHJQ4JFOB*UBMJB6OJWFSTJEBEEFMPT&TUVEJPTEF4JFOB
1SBODF ( 5IF VTF PG FEJCMF GVOHJ CZ "NB[POJBO *OEJBOT "EWBODFT JO &DPOPNJD
#PUBOZ
m
1SBTBE1$IBVIBO,,BOEBSJ-4.BJLIVSJ3,1VSPIJU"#IBUU31Z3BP
,4 .PSDIFMMB FTDVMFOUB OFFE GPS TDJFOUJGJD JOUFSWFOUJPO GPS JUT DVMUJWBUJPO JO
DFOUSBM)JNBMBZB$VSSFOU4DJFODF
m
1VSLBZBTUIB 31 Z $IBOESB " .BOVBM EF IPOHPT DPNFTUJCMFT /VFWB %FMIJ
5PEBZBOE5PNPSSPXT1SJOUFSTBOE1VCMJTIFST
3BJ #, "ZBDIJ 44 Z 3BJ " " OPUF PO FUIOPNZDPNFEJDJOFT GSPN $FOUSBM
*OEJB.ZDPMPHJTU
m
3BNNFMPP + -BT DPOUSJCVDJPOFT EFM KBSEÎO CPUÃOJDP OBDJPOBM EF #ÊMHJDB B MB
NJDPMPHÎBFO¦GSJDB&O+)4FZBOJZ"$$IJLVOJFET"DUBTEFM9***NJUJOQMFOBSJPEF
#JCMJPHSBGÎB
"&5'"5;PNCB.BMBXJmEFBCSJMEF7PMQÃHTm;PNCB.BMBXJ
)FSCBSJP/BDJPOBMZ+BSEJOFT#PUÃOJDPTEF.BMBXJ
3BNNFMPP + Z 8BMMFZO 3 5IF FEJCMF GVOHJ PG "GSJDB TPVUI PG UIF 4BIBSB B
MJUFSBUVSFTVSWFZ4DSJQUB#PUBOJDB#FMHJDB
m
3BVUBWBBSB54VPNFOTJFOJTBUP4VNNBSZ4UVEJFTPOUIFNVTISPPNDSPQJO'JOMBOE
BOEJUTVUJMJTBUJPOy 8FSOFS4QFEFSTUSPN0TBLFZIUJP'PSTTBO,JSKBQBJOP0Z
3FEIFBE4"5IFQJOFNVTISPPNJOEVTUSZJO$BOBEBBOEUIF6OJUFE4UBUFTXIZJU
FYJTUTBOEXIFSFJUJTHPJOH&O*)$IBQFMBZ.&1BMNFET.ZDPMPHZJOTVTUBJOBCMF
EFWFMPQNFOU FYQBOEJOH DPODFQUT QÃHT m #PPO $BSPMJOB EFM /PSUF 1BSLXBZ
1VCMJTIFST
3FNPUUJ$%Z$PMBO+"*EFOUJGJDBDJÓOEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTFO
MPTCPTRVFTEF%BOUBT)VBOVDP3FWJTUB'PSFTUBMEFM1FSÙm
3FTIFUOJLPW 47 8BTTFS 41 Z 5BO ,, )JHIFS CBTJEJPNZDPUB BT B TPVSDF PG
"OUJUVNPVSBOEJNNVOPTUJNVMBUJOHQPMZTBDDIBSJEFT"SFWJFX*OUFSOBUJPOBM+PVSOBMPG
.FEJDJOBM.VTISPPNT
m
3FZHBEBT';BNPSB.BSUÎOF[.Z$JGVFOUFT+$POPDJNJFOUPTPCSFMPTIPOHPT
TJMWFTUSFTDPNFTUJCMFTFOMBTDPNVOJEBEFTEF"KVTDPZ5PQJMFKP%'3FWJTUB.FYJDBOBEF
.JDPMPHÎB
m
3FZOB 4 3PESÎHVF[#BSSFBM + 'PMDI - 1ÊSF[#BEJB 3 (BSDÎB 4 Z +JNÊOF[ &
5SVGGMFTJMWJDVMUVSFJO.FEJUFSSBOFBOGPSFTUT&O*3)BMM:8BOH";BNCPOFMMJ
Z & %BOFMM FET &EJCMF FDUPNZDPSSIJ[BM NVTISPPNT BOE UIFJS DVMUJWBUJPO "DUBT EF MB
4FHVOEBDPOGFSFODJBJOUFSOBDJPOBMTPCSFMPTIPOHPTFDUPNJDPSSÎ[JDPTDPNFTUJCMFT+VMJP
EF$ISJTUDIVSDI$%30.$ISJTUDIVSDI/FX;FBMBOE*OTUJUVUFGPS$SPQBOE
'PPE3FTFBSDI-JNJUFE
3JDIBSET"-BOE-BCPVSBOE%JFUJO/PSUIFSO3IPEFTJB"OFDPOPNJDTUVEZPGUIF
#FNCBUSJCF-POEPO3FJOP6OJEP0YGPSE6OJWFSTJUZ1SFTT
3JDIBSET 35 Z $SFBTZ . &UIOJD EJWFSTJUZ SFTPVSDF WBMVFT BOE FDPTZTUFN
NBOBHFNFOU NBUTVUBLF NVTISPPN IBSWFTUJOH JO UIF ,MBNBUI CJPSFHJPO 4PDJFUZ BOE
/BUVSBM3FTPVSDFT
m
3JDIBSETPO%)4.FEJDJOBMBOEPUIFSFDPOPNJDBTQFDUTPGMJDIFOT&O.(BMVO
FE$3$IBOECPPLPOMJDIFOPMPHZ
m#BUPO3PVHF$3$
3JDIBSETPO %)4 -JDIFOT BOE NBO &O %- )BXLTXPSUI FE 'SPOUJFST JO
NZDPMPHZQÃHTm8BMMJOHGPSE$"#*OUFSOBUJPOBM
3JFEMJOHFS 5+ FE 5IF TBDSFE NVTISPPN TFFLFS &TTBZT GPS 3 (PSEPO 8BTTPO
1PSUMBOE0SFHPO&&66%JPTDPSJEFT1SFTTQÃHT
3JGBJ . WBO 0WFSFFNT VOQVCMJTIFE JDPOFT PG *OEPOFTJBO FEJCMF GVOHJ &O +4
4JFNPOTNB Z / 8VMJHBSOJ4PFUKJQUP FET 1MBOU SFTPVSDFT PG 4PVUI&BTU "TJB QÃHT
m "DUBT EFM 1SJNFS 4JNQPTJP *OUFSOBDJPOBM 1304&" m EF NBZP EF :BLBSUB8BHFOJOHFO1BÎTFT#BKPT16%0$1304&"
3JKTPPSU +7 Z 1JLVO ) 4FNJOBSJP JOUFSOBDJPOBM TPCSF MPT QSPEVDUPT GPSFTUBMFT
OP NBEFSBCMFT m $IJOB :VOOBO -BPT 7JFUOBN 4JNBP :VOOBO 13 $IJOB :VOOBO
6OJWFSTJUZ1SFTTQÃHT
3PESÎHVF[ +" -MBNBT'SBEF # 5FSSÓO"MGPOTP " 4ÃODIF[3PESÎHVF[ +"
(BSDÎB1SJFUP 0 "SSPKP.BSUÎO & Z +BSBVUB 51 (VÎB EF )POHPT EF MB
1FOÎOTVMB*CÊSJDBBFEJDJÓO-FÓO$FMBSBZO
3PKBT $ Z .BOTVS & &DVBEPS JOGPSNBDJPOFT HFOFSBMFT TPCSF QSPEVDUPT OPO
NBEFSFSPT FO &DVBEPS &O .FNPSJB DPOTVMUB EF FYQFSUPT TPCSF QSPEVDUPT GPSFTUBMFT OP
NBEFSFSPTQBSB"NÊSJDB-BUJOBZFM$BSJCF1ÃHTm4FSJF'PSFTUBM4BOUJBHP
'"00GJDJOB3FHJPOBMQBSB"NÊSJDB-BUJOBZFM$BSJCF
3PUIFSPF . 8JME GVOHJ BOE UIF DPOUSPWFSTZ PWFS DPMMFDUJOH GPS UIF QPU #SJUJTI
8JMEMJGF
m
3VULBVTLBT " /POXPPE SFTPVSDFT BOE UIFJS VUJMJTBUJPO JO -JUIVBOJB &O )(
-VOE # 1BKBSJ Z . ,PSIPOFO FET 4VTUBJOBCMF EFWFMPQNFOU PG OPOXPPE HPPET
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
BOE CFOFGJUT GSPN CPSFBM BOE DPME UFNQFSBUF GPSFTUT QÃHT m "DUBT EFM 5BMMFS
*OUFSOBDJPOBM+PFOTVV'JOMBOEJBm+BOVBSZ&'*1SPDFFEJOHT/P
3ZWBSEFO - 1JFBSDF (% Z .BTVLB " "O JOUSPEVDUJPO UP UIF MBSHFS GVOHJ PG
4PVUI$FOUSBM"GSJDB0TMP'VOHJGMPSB
4BBS.'VOHJJO,IBOUZGPMLNFEJDJOF+PVSOBMPG&UIOPQIBSNBDPMPHZm
4BBTUBNPJOFO 0 'PSFTU QPMJDJFT BDDFTT SJHIUT BOE OPOXPPE GPSFTU QSPEVDUT JO
OPSUIFSO&VSPQF6OBTZMWB
m
4BBTUBNPJOFO0,BOHBT+/BTLBMJ"Z4BMP,/POXPPEGPSFTUQSPEVDUTJO
'JOMBOE TUBUJTUJDT FYQFSU FTUJNBUFT BOE SFDFOU EFWFMPQNFOU &O )( -VOE # 1BKBSJ
Z . ,PSIPOFO FET 4VTUBJOBCMF EFWFMPQNFOU PG OPOXPPE HPPET BOE CFOFGJUT GSPN
CPSFBMBOEDPMEUFNQFSBUFGPSFTUT1ÃHTm"DUBTEFM5BMMFS*OUFSOBDJPOBM+PFOTVV
'JOMBOEJBmEFFOFSPEF&'*1SPDFFEJOHT/P
4BCSB " Z 8BMUFS 4 /POXPPE GPSFTU QSPEVDUT JO UIF /FBS &BTU B SFHJPOBM BOE
OBUJPOBMPWFSWJFX%PDVNFOUPEFUSBCBKP'0183PNB'"0QÃHT
4BFO[ +" -J[BOP "7. Z /BTTBS .$ &EJCMF QPJTPOPVT BOE IBMMVDJOBUPSZ
GVOHJJO$PTUB3JDB3FWJTUBEF#JPMPHÎB5SPQJDBM
m
4BMP,1SJODJQMFTBOEEFTJHOPGBQSPHOPTJTTZTUFNGPSBOBOOVBMGPSFDBTUPGOPO
XPPE GPSFTU QSPEVDUT &O " /JTLBOFO Z / %FNJEPWB FET 3FTFBSDI BQQSPBDIFT UP
TVQQPSU OPOXPPE GPSFTU QSPEVDUT TFDUPS EFWFMPQNFOU DBTF PG "SLIBOHFMTL 3FHJPO
3VTTJBQÃHTm"DUBTEFM*OTUJUVUP'PSFTUBM&VSPQFP/P+PFOTVV&'*
4BOPO ,# #B ". Z %FYIFJNFS + .ZDPSSIJ[BM TUBUVT PG TPNF GVOHJ GSVJUJOH
CFOFBUIJOEJHFOPVTUSFFTJO#VSLJOB'BTP'PSFTU&DPMPHZBOE.BOBHFNFOUm
4BSFNJ ) "NNBSFMMPV " Z .PIBNNBEJ + .PSQIPMPHJDBM BOE FDPMPHJDBM
FWBMVBUJPO PG USVGGMFT JO *SBO &O *3 )BMM : 8BOH " ;BNCPOFMMJ Z & %BOFMM FET
"DUBTEFMBTFHVOEBDPOGFSFODJBJOUFSOBDJPOBMTPCSFMPTIPOHPTNJDPSSÎ[JDPTDPNFTUJCMFT
+VMJPEF$ISJTUDIVSDI$%30.$ISJTUDIVSDI/FX;FBMBOE*OTUJUVUFGPS$SPQ
BOE'PPE3FTFBSDI-JNJUFE
4BSLBS##$IBLSBCPSUZ%,Z#IBUUBDIBSKFF"8JMEFEJCMFNVTISPPNGMPSB
PG5SJQVSB*OEJBO"HSJDVMUVSJTU
m
4$#%4VTUBJOBCMFNBOBHFNFOUPGOPOUJNCFSGPSFTUSFTPVSDFT$#%5FDIOJDBM4FSJFT
/P.POUSFBM4FDSFUBSJBUPGUIF$POWFOUJPOPO#JPMPHJDBM%JWFSTJUZEJTQPOJCMFFO
XXXCJPEJWPSH
QÃHT
4DIMPTTFS8&Z#MBUOFS,"5IFXJMEFEJCMFNVTISPPNJOEVTUSZPG8BTIJOHUPO
0SFHPOBOE*EBIPBTVSWFZ+PVSOBMPG'PSFTUSZm
4DINFEB)JSTDINBOO(3B[NJMJD*3FZFT4(VUJÊSSF[.*Z-PZPMB+*B
#JPMPHJDBMBDUJWJUZBOEGPPEBOBMZTJTPG$ZUUBSJBQÃHT%JTDPNJDFUPT
&DPOPNJD#PUBOZ
m
4DINFEB)JSTDINBOO(3B[NJMJD*(VUJÊSSF[.*Z-PZPMB+*C1SPYJNBUF
DPNQPTJUJPO BOE CJPMPHJDBM BDUJWJUZ PG GPPE QMBOUT HBUIFSFE CZ $IJMFBO "NFSJOEJBOT
&DPOPNJD#PUBOZ
m
4DIVMUFT 3( 5FPOBODBUM FM IPOHP OBSDÓUJDP EF MPT "[UFDBT "NFSJDBO
"OUISPQPMPHJTU9-**m
4FSHFFWB . )POHPT FTQFDJFT EF IPOHPT DPNFTUJCMFT WFOFOPTPT Z NFEJDJOBMFT
.PTDÙ$VMUVSFBOE5SBEJUJPOTQÃHT
4IBDLMFUPO 4& 4IBDLMFUPO $. /FUTIJMVWIJ 53 (FBDI #4 #BMMBODF " Z
'BJSCBOLT %), 6TF QBUUFSOT BOE WBMVF PG TBWBOOB SFTPVSDFT JO UISFF SVSBM
WJMMBHFTJO4PVUI"GSJDB&DPOPNJD#PUBOZ
m
4IBSEB 3. ,BVTIBM 4$ Z /FHJ (4 &EJCMF GVOHJ PG (BSIXBM )JNBMBZBT
.VTISPPN+PVSOBMm
4IBSNB :, Z %PTIJ " 4PNF TUVEJFT PO BO FEJCMF XJME GVOHVT 1IFMMPSJOJB
JORVJOBOTJO3BKBTUIBO*OEJB.VTISPPN3FTFBSDI
m
4IBX % .JDSPPSHBOJTNT JO 1BQVB /FX (VJOFB 3FTFBSDI #VMMFUJO /P
%FQBSUNFOUPG1SJNBSZ*OEVTUSZ1PSU.PSFTCZ
#JCMJPHSBGÎB
4JEEJRJ/"&UIOPCPUBOZPGOPOUJNCFSGPSFTUQSPEVDUTPG$IJUUBHPOH)JMM5SBDUT
&O3-#BOJL.,"MBN4+1FJZ"3BTUPHJFET"QQMJFEFUIOPCPUBOZQÃHTm
$IJUUBHPOH#BOHMBEFTI*OTUJUVUPEF*OWFTUJHBDJÓO'PSFTUBMEF#BOHMBEFTI
4JMMJUPF1&UIOPTDJFOUJGJDPCTFSWBUJPOTPOFOUPNPMPHZBOENZDPMPHZJOUIFTPVUIFSO
IJHIMBOETPG1BQVB/FX(VJOFB4DJFODFJO/FX(VJOFB
m
4JNNPOT$)FOLFM5Z#BT$5IFHFOVT"NBOJUBJOUIF1BLBSBJNBNPVOUBJOT
PG(VZBOB1FSTPPOJB
m
4JNPOT%.5IFNVTISPPNUPYJOT%FMBXBSF.FEJDBM+PVSOBM
m
4JOHFS3'PVSZFBSTPGNZDPMPHJDBMXPSLJOTPVUIFSO4PVUI"NFSJDB.JDPMPHÎB
m
4JOHI 4, Z 3BXBU (4 .PSFM NVTISPPN JOEVTUSZ JO *OEJB 1MBOU 5BML m
4JTBL - *NQPSUBODF PG NBJO OPOXPPE GPSFTU QSPEVDUT JO UIF $[FDI 3FQVCMJD
&O )( -VOE # 1BKBSJ Z . ,PSIPOFO FET 4VTUBJOBCMF EFWFMPQNFOU PG OPOXPPE
HPPETBOECFOFGJUTGSPNCPSFBMBOEDPMEUFNQFSBUFGPSFTUTQÃHTm"DUBTEFM5BMMFS
*OUFSOBDJPOBM+PFOTVV'JOMBOEJBmEFFOFSP&'*1SPDFFEJOHT/P
4PNNFS38IZ*XJMMDPOUJOVFUPFBUDPSOTNVU/BUVSBM)JTUPSZm
4PNNFSLBNQ*Z(V[NÃO()POHPTEF(VBUFNBMB**&TQFDJFTEFQPTJUBEBTFOFM
IFSCBSJPEFMB6OJWFSTJEBEEF4BO$BSMPTEF(VBUFNBMB3FWJTUB.FYJDBOBEF.JDPMPHÎB
m
4UBNFUT 1 (SPXJOH HPVSNFU BOE NFEJDJOBM NVTISPPNT B FEJDJÓO #FSLFMFZ
$BMJGPSOJB5FO4QFFE1SFTTQÃHT
4VIBSEJ5SFBUNFOUUPEFWFMPQNZDPSSIJ[BGPSNBUJPOPOEJQUFSPDBSQTFFEMJOHT&O
&(VIBSEJB.'BUBXJ.4VUJTOB5.PSJZ40IUBFET3BJOGPSFTUFDPTZUFNTPG&BTU
,BMJNBOUBOQÃHTm&DPMPHJDBM4UVEJFT7PM5PLZP4QSJOHFS
4VO 84 Z 9V +: $VMUJWBUJPO PG FEJCMF GVOHJ IBT CFDPNF POF PG UIF CBDLCPOF
JOEVTUSJFTJOSVSBMFDPOPNZPG$IJOB&EJCMF'VOHJPG$IJOB
m
4ZFE3JB["(Z.BINPPE,IBO4&EJCMFNVTISPPNTGSPN"[BE+BNNVBOE
,BTINJS1BLJTUBO+PVSOBMPG1IZUPQBUIPMPHZ
m
5BHMJBWJOJ 0 Z 5BHMJBWJOJ 3 "UMBOUF EFJ GVOHIJ DPNNFTUJCJMJ EFMMB #BTJMJDBUB
<"UMBTEFMPTIPOHPTDPNFTUJCMFTEF#BTJMJDBUB>1PUFO[B$POTFKP3FHJPOBMEF#BTJMJDBUB
#BTJMJDBUBQÃHT
5BZMPS'85IBNBHF%.#BLFS/3PUI#FKFSBOP/Z,BHBO;VS7/PUFT
POUIF,BMBIBSJEFTFSUUSVGGMF5FSGF[JBQGFJMMJJ.ZDPMPHJDBM3FTFBSDI
m
5FEEFS 4 .JUDIFMM % Z 'BSSBO 3 4FFJOH UIF GPSFTU CFOFBUI UIF USFFT UIF TPDJBM
BOEFDPOPNJDQPUFOUJBMPGOPOUJNCFSGPSFTUQSPEVDUTBOETFSWJDFTJOUIF2VFFO$IBSMPUUF
*TMBOET)BJEB (XBJJ .JUDIFMM $POTVMUJOH BOE UIF #$ .JOJTUSZ PG 'PSFTUT $PMPNCJB
#SJUÃOJDB
5FEEFS4.JUDIFMM%Z'BSSBO31SPQFSUZSJHIUTJOUIFTVTUBJOBCMFNBOBHFNFOU
PG OPOUJNCFS GPSFTU QSPEVDUT 7JDUPSJB $PMPNCJB #SJUÃOJDB .JOJTUSZ PG 'PSFTUT QÃHT
5FTUJ"*M-JCSPEFJ'VOHIJE*UBMJB$PMPHOPMBBJ$PMMJ73
%FNFUSBQÃHT
5IPFO%-PPLJOHGPSFDUPNZDPSSIJ[BMUSFFTBOEFDUPNZDPSSIJ[BMGVOHJJOUSPQJDBM
"GSJDB&O4*TBBD+$'SBOLMBOE38BUMJOHZ"+48IBMMFZFET"TQFDUTPGUSPQJDBM
NZDPMPHZQÃHTm$BNCSJEHF$BNCSJEHF6OJWFSTJUZ1SFTT
5IPFO%Z#B".&DUPNZDPSSIJ[BTBOEQVUBUJWFFDUPNZDPSSIJ[BMGVOHJPG"G[FMJB
BGSJDBOBBOE6BQBDBTFOFHBMFOTJTJOTPVUIFSO4FOFHBM/FX1IZUPMPHJTUm
5IPNTPO#15XPTUVEJFTJO"GSJDBOOVUSJUJPO"OVSCBOBOEBSVSBMDPNNVOJUZJO
/PSUIFSO3IPEFTJB3IPEFT-JWJOHTUPOF1BQFST
m
5JCJMFUUJ&Z;BNCPOFMMJ"*5BSUVGJEFMMB1SPWJODJBEJ'PSMJ$FTFOB#PMPÒB*UBMJB
1BUSPO&EJUPSFQÃHT
5SBQQF+.6TFPGUSVGGMFTBOEGBMTFUSVGGMFTBSPVOEUIFXPSME&O.#FODJWFOHBZ
#(SBOFUUJFET1SPDFFEJOHT"DUBTEFM4FHVOEP$POHSFTP*OUFSOBDJPOBMTPCSF5SVGBT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
4QPMFUPQÃHTm4QPMFUP*UBMJB$PNVOJEBE.POUBOBEF.POUJ.BSUJOJZEF
4FSBOP
5V(-6TJOHCBHBTTFBOEXBTUFDPUUPOBTTVCTUSBUFGPSCBHDVMUJWBUJPOPG1MFVSPUVT
TBKPSDBKV;IPOHHVP4IJZPOHKVO)POHPT$PNFTUJCMFTEF$IJOBBCJNPOUIMZKPVSOBM
PWFSBMM/P
m
5VOP/.VTISPPNVUJMJ[BUJPOCZUIF.BKBOHJSBO&UIJPQJBOUSJCF5IF.ZDPMPHJTU
m
5VSOFS/+,VIOMFJO)7Z&HHFS,/5IFDPUUPOXPPENVTISPPN5SJDIPMPNB
QPQVMJOVN
BGPPESFTPVSDFPGUIF*OUFSJPS4BMJTI*OEJBOQFPQMFTPG#SJUJTI$PMVNCJB
$BOBEJBO+PVSOBMPG#PUBOZ
m
6BDJRVFUF"%BJ.E-Z.PUUB)%JTUSJCVÉÈPWBMPSFDPOPNJDPFVTPTVTUFOUBWFM
EPDPHVNFMPDPNFTUÎWFMFN.PÉBNCJRVF<%JTUSJCVDJÓOWBMPSFDPOÓNJDPZVTPTPTUFOJCMF
EFMPTIPOHPTDPNFTUJCMFTFO.P[BNCJRVF>(SVQPEF5SBCBKP"NCJFOUBM.BQVUP
6SCPOBT7,BMBNFFT,Z-VLJO75IFMJTUPGUIFBHBSJDBMFTGMPSBPGUIF#BMUJD
3FQVCMJDT-JUVBOJB-FUPOJB&TUPOJB
<FO3VTJB>$BTBFEJUPSJBMEFTDPOPDJEB
7BDIVTLB1Z7BDIVTLB$.VTISPPNQPJTPOJOHTJO3VTTJBNVTISPPNEFBUITJO
UIF6LSBJOF5IF/FXTMFUUFSPGUIF8JTDPOTJO.ZDPMPHJDBM4PDJFUZ
7BJEZB+(Z3BCCB"4'VOHJJOGPMLNFEJDJOF.ZDPMPHJTUm
7BODF/$Z5IPNBT+4QFDJBMGPSFTUQSPEVDUT#JPEJWFSTJUZNFFUTUIFNBSLFUQMBDF
1PSUMBOE0SFHPO%FQBSUBNFOUPEF"HSJDVMUVSBEFMPT&&664FSWJDJPGPSFTUBM
WBOEFS8FTUIVJ[FO($"Z&JDLFS"'JFMEHVJEFNVTISPPNTPGTPVUIFSO"GSJDB
$JVEBEEFM$BCP4USVJL1VCMJTIFST1UZ
-UE1ÃHT
7BTJMFWB -/ &EJCMF NVTISPPNT PG UIF 'BS &BTU 7MBEJWPTUPDL 'BS &BTUFSO
1VCMJTIJOH)PVTF
7FSCFDLFO " 8BMMFZO 3 4IBSQ $ Z #VZDL # 4UVEJFT PO USPQJDBM "GSJDBO
-BDUBSJVTTQFDJFT3FHJTUSPTEF;JNCBCXF4ZTU(FPHS1M
m
7FSCFDLFO " Z #VZDL # %JWFSTJEBE Z FDPMPHÎB EF MPT IPOHPT FDPNJDPSSÎ[JDPT
USPQJDBMFT EF "GSJDB &O 3 8BUMJOH +$ 'SBOLMBOE ". "JOTXPSUI 4 *TBBD Z $)
3PCJOTPO FET 5SPQJDBM NZDPMPHZ m .BDSPNZDFUFT 8BMMJOHGPSE $"#
*OUFSOBUJPOBM
7JMLSJTUF-/8'1SFTPVSDFTBOEUIFJSGVUVSFVUJMJTBUJPOJO-BUWJB&O)(-VOE
#1BKBSJZ.,PSIPOFOFET4VTUBJOBCMFEFWFMPQNFOUPGOPOXPPEHPPETBOECFOFGJUT
GSPN CPSFBM BOE DPME UFNQFSBUF GPSFTUT QÃHT m "DUBT EFM 5BMMFS *OUFSOBDJPOBM
+PFOTVV'JOMBOEJBmEFFOFSPEF&'*1SPDFFEJOHT/P
7JMMBOVFWB$A)VJUMBDPDIF6TUJMBHPNBZEJT
DPNPBMJNFOUPFO.ÊYJDP.JDPMPHÎB
/FPUSPQJDBM"QMJDBEB
m
7JMMBSSFBM-Z(V[NÃO(1SPEVDDJÓOEFMPTIPOHPTDPNFTUJCMFTTJMWFTUSFTFOMPT
CPTRVFTEF.ÊYJDP*3FWJTUBEFMB4PDJFEBE.FYJDBOBEF.JDPMPHÎB
m
7JMMBSSFBM-Z(V[NÃO(B1SPEVDDJÓOEFMPTIPOHPTDPNFTUJCMFTTJMWFTUSFTFOMPT
CPTRVFTEF.ÊYJDP**#JÓUJDB
m
7JMMBSSFBM-Z(V[NÃO(C1SPEVDDJÓOEFMPTIPOHPTDPNFTUJCMFTTJMWFTUSFTFOMPT
CPTRVFTEF.ÊYJDP***3FWJTUBEFMB4PDJFEBE.FYJDBOBEF.JDPMPHÎB
m
7JMMBSSFBM-Z1ÊSF[.PSFOP+-PTIPOHPTDPNFTUJCMFTTJMWFTUSFTEF.ÊYJDPVO
FOGPRVFJOUFHSBM.JDPMPHÎB/FPUSPQJDBM"QMJDBEBm
7MBEZTIFWTLJZ%7-BMFUJO"1Z7MBEZTIFWTLJZ"%3PMFPGXJMEMJGFBOEPUIFS
OPOXPPEGPSFTUQSPEVDUTJOGPPETFDVSJUZJODFOUSBM4JCFSJB6OBTZMWB
m
8BMMFZO3Z3BNNFMPP+5IFQPJTPOPVTBOEVTFGVMGVOHJPG"GSJDBTPVUIPGUIF
4BIBSBBMJUFSBUVSFTVSWFZ4DSJQUB#PUBOJDB#FMHJDB
m
8BMLFS"$IBNQJHOPODPNFTUJCMFTEFMB#BTTF/HPVOJÊ(BCÓO
3FWVF#PU"QQ
FU"HSJDVMUVSF5SPQJDBM
m
8BOH:$-BNJDPMPHÎBFOMBBOUJHVB$IJOB.ZDPMPHJTUm
8BOH:)BMM*3Z&WBOT-"&DUPNZDPSSIJ[BMGVOHJXJUIFEJCMFGSVJUJOHCPEJFT
5SJDIPMPNBNBUTVUBLFBOESFMBUFEGVOHJ&DPOPNJD#PUBOZ
m
#JCMJPHSBGÎB
8BOH:#VDIBOBO1Z)BMM*"MJTUPGFEJCMFFDUPNZDPSSIJ[BMNVTISPPNT&O
*3)BMM:8BOH";BNCPOFMMJZ&%BOFMMFET&EJCMFFDUPNZDPSSIJ[BMNVTISPPNT
BOE UIFJS DVMUJWBUJPO "DUBT EF MB TFHVOEB DPOGFSFODJB JOUFSOBDJPOBM TPCSF MPT IPOHPT
FDUPNJDPSSÎ[JDPT DPNFTUJCMFT +VMJP $%30. $ISJTUDIVSDI /FX ;FBMBOE
*OTUJUVUFGPS$SPQBOE'PPE3FTFBSDI-JNJUFE
8BTTFS 41 &EJCMF BOE QPJTPOPVT NVTISPPNT PG UIF $BSQBUIJBO .PVOUBJOT ‰
FEJDJÓOy 6[IHPSPE6DSBOJB,BSQBUZ1SFTT1ÃHT
8BTTFS41&EJCMFBOEQPJTPOPVTNVTISPPNTPG*TSBFM5FM"WJW.PEBO1SFTT
1ÃHT
8BTTFS 41 /FWP & 4PLPMPW % 3FTIFUOJLPW 4 Z 5JNPS5JTNFOFUTLZ . %JFUBSZ TVQQMFNFOUT GSPN NFEJDJOBM NVTISPPNT EJWFSTJUZ PG UZQFT BOE WBSJFUZ PG
SFHVMBUJPOT*OUFSOBUJPOBM+PVSOBMPG.FEJDJOBM.VTISPPNT
m
8BTTFS 41 Z 8FJT "- B (FOFSBM EFTDSJQUJPO PG UIF NPTU JNQPSUBOU NFEJDJOBM
IJHIFS CBTJEJPNZDFUFT NVTISPPNT *OUFSOBUJPOBM +PVSOBM PG .FEJDJOBM .VTISPPNT
m
8BTTFS 41 Z 8FJT "- C .FEJDJOBM QSPQFSUJFT PG TVCTUBODFT PDDVSSJOH JO IJHIFS
CBTJEJPNZDFUFT NVTISPPNT DVSSFOU QFSTQFDUJWFT SFTVNFO
*OUFSOBUJPOBM +PVSOBM PG
.FEJDJOBM.VTISPPNT
m
8BTTFS 41 Z 8FJT "- D 5IFSBQFVUJD FGGFDUT PG TVCTUBODFT PDDVSSJOH JO IJHIFS
CBTJEJPNZDFUFT NVTISPPNT B NPEFSO QFSTQFDUJWF $SJUJDBM 3FWJFXT JO *NNVOPMPHZ
m
8BTTPO3(4PNBEJWJOFNVTISPPNPGJNNPSUBMJUZ-B)BZB.PVUPO1ÃHT
8BTTPO71Z8BTTPO3(.VTISPPNT3VTTJBBOEIJTUPSZ7PMT/VFWB:PSL
1BOUIFPO#PPLT
8FJHBOE +' .BOBHFNFOU FYQFSJNFOUT GPS IJHIFMFWBUJPO BHSPGPSFTUSZ TZTUFNT
KPJOUMZ QSPEVDJOH NBUTVUBLF NVTISPPNT BOE IJHIRVBMJUZ UJNCFS JO UIF $BTDBEF SBOHF
PG TPVUIFSO 0SFHPO (FOFSBM 5FDIOJDBM 3FQPSU 1/8(53 1PSUMBOE 0SFHPO
%FQBSUBNFOUPEF"HSJDVMUVSBEF&&664FSWJDJP'PSFTUBM1BDJGJD/PSUIXFTU3FTFBSDI
4UBUJPO1ÃHT
8JMMT3.Z-JQTFZ3("OFDPOPNJDTUSBUFHZUPEFWFMPQOPOUJNCFSGPSFTUQSPEVDUT
BOETFSWJDFTJO#SJUJTI$PMVNCJB$PMPNCJB#SJUÃOJDB.JOJTUSZPG'PSFTUT
8JMTPO,$BNNBDL%Z4IVNCB''PPEQSPWJTJPOJOHBNPOHTU.P[BNCJDBO
SFGVHFFTJO.BMBXJ"TUVEZPGBJEMJWFMJIPPEBOEEFWFMPQNFOU*OGPSNFQSFQBSBEPQBSB
FM1SPHSBNB"MJNFOUBSJP.VOEJBM6OJWFSTJEBEEF0YGPSE0YGPSE3FJOP6OJEP
8JOLMFS%4VTUBJOBCMFEFWFMPQNFOUJOUIF5JCFUBOBSFBTPG8FTU4JDIVBOBGUFSUIF
MPHHJOHCBO1SFTFOUBDJÓOJOÊEJUBQBSBFMOPWFOP4JNQPTJP*"54-FJEFO1BÎTFT#BKPT
mEFKVOJPEFEJTQPOJCMFFOIUUQPVSXPSMEDTDPNEBOXJOLEBOJFM@XJOLMFS@
T@TFMFDUFE@QVCMJDBUJPOTIUN GGT
8JOLMFS%6TPGPSFTUBMFJNQMJDBDJPOFTEFMBQSPIJCJDJÓOEFMBUBMBFOFOMBT
QSFGFDUVSBT UJCFUBOBT EF 4JDIVBO &TUVEJP EF DBTP TPCSF TJMWJDVMUVSBM SFGPSFTUBDJÓO Z
1'/.FOFMDPOEBEPEF-JUBOH(BO[J5"1$IJOB&O;;JBOH.$FOUSJUUP4-JV
Z 4 ;IBOH FET 5IF FDPMPHJDBM CBTJT BOE TVTUBJOBCMF NBOBHFNFOU PG GPSFTU SFTPVSDFT
*OGPSNBUPSF#PUBOJDP*UBMJBOP4VQMFNFOUP
<FOJNQSFOUB>
9JBOH :5 Z )BO ; 6TJOH TVODVSFE CFE UP JODSFBTF UFNQFSBUVSF JO UIF FBSMZ
TQSJOH GPS DVMUVSJOH TUSBX NVTISPPN 7PMWBSJFMMB FTDVMFOUB ;IPOHHVP 4IJZPOHKVO
)POHPT$PNFTUJCMFTEF$IJOBBCJNPOUIMZKPVSOBM
PWFSBMM/P
m
:BOH;6OIPOHPUSPQJDBMEFMJDJPTPm5FSNJUPNZDFTIFJNJJRVFDSFDFFO:VOOBO$IJOB
;IPOHHVP4IJZPOHKVO)POHPT$PNFTUJCMFTEF$IJOBBCJNPOUIMZKPVSOBM
m
:BOH ; 1PMZP[FMMVT NVMUJQMFY m VO IPOHP DPNFTUJCMF SBSP ;IPOHHVP 4IJZPOHKVO
)POHPT$PNFTUJCMFTEF$IJOBBCJNPOUIMZKPVSOBM
m
:BOH ;- Z :BOH $ 3FDPOPDJNJFOUP EF MPT )ZQTJ[ZHVT NBSNPSFVT Z EF TV
DVMUJWBDJÓO;IPOHHVP4IJZPOHKVO)POHPTDPNFTUJCMFTEF$IJOBBCJNPOUIMZKPVSOBM
m
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
:FI & 'PSFTU DMBJNT DPOGMJDUT BOE DPNNPEJGJDBUJPO UIF QPMJUJDBM FDPMPHZ PG 5JCFUBO
NVTISPPNIBSWFTUJOH WJMMBHFT JO :VOOBO 1SPWJODF $IJOB $IJOB 2VBSUFSMZ m
:JMNB[ ' 0EFS / Z *TJMPHMV . -PT NBDSPIPOHPT EF MPT EJTUSJUPT EF 4PNB
.BOJTB
Z4BWBTUFQF#BMJLFTJS
5VSLJTI+PVSOBMPG#PUBOZ
m
:JOH+;.BP9-.B2.;POH:$Z8FO)"*DPOFTPGNFEJDJOBMGVOHJ
GSPN$IJOB#FJKJOH4DJFODF1SFTT1ÃHT
:JOH +; ;IBP +# .BP 9- .B 2. ;IBP -8 Z ;POH :$ )POHPT
$PNFTUJCMFT<EF$IJOB>#FJKJOH4DJFODF1VCMJTIJOH)PVTF
:PLPZBNB,"JOVOBNFTBOEVTFTGPSGVOHJMJDIFOTBOENPTTFT5SBOTBDUJPOTPGUIF
.ZDPMPHJDBM4PDJFUZ+BQBO
m
:PSPV4/Z%F,FTFM"$POOBJTTBODFTFUIOPNZDPMPHJRVFTEFTQFVQMFT/BHPUEV
DFOUSFEV#ÊOJO"GSJRVFEFM0VFTU
&O&3PCCSFDIU+%FHSFFGZ*'SJJTFET1MBOU
TZTUFNBUJDTBOEQIZUPHFPHSBQIZGPSUIFVOEFSTUBOEJOHPG"GSJDBOCJPEJWFSTJUZ"DUBTEFM
97$POHSFTP"&5'"5.FJTF+BSEÎO/BDJPOBM#PUÃOJDPEF#ÊMHJDB4ZTU(FPHS
1M
m
:PSPV4/%F,FTFM"4JOTJO#Z$PEKJB+5$%JWFSTJUÊFUQSPEVDUJWJUÊEFT
DIBNQJHOPOT DPNFTUJCMFT EF MB GPSFU DMBTTÊF EF 8BSJ .BSP #FOJO
&O & 3PCCSFDIU
+ %FHSFFG Z * 'SJJT FET 1MBOU TZTUFNBUJDT BOE QIZUPHFPHSBQIZ GPS UIF VOEFSTUBOEJOH
PG"GSJDBOCJPEJWFSTJUZ"DUBTEFM97$POHSFTP"&5'"5.FJTF+BSEÎO/BDJPOBM
#PUÃOJDPEF#ÊMHJDB4ZTU(FPHS1M
m
:VO8#VDIBOBO1Z)BMM* "MJTUPGFEJCMFFDUPNZDPSSIJ[BMNVTISPPNT&O
*3)BMM:8BOH";BNCPOFMMJZ&%BOFMMFET&EJCMFFDUPNZDPSSIJ[BMNVTISPPNT
BOE UIFJS DVMUJWBUJPO "DUBT EF MB TFHVOEB DPOGFSFODJB JOUFSOBDJPOBM TPCSF MPT IPOHPT
FDUPNJDPSSÎ[JDPTDPNFTUJCMFT+VMJP$ISJTUDIVSDI$%30.$ISJTUDIVSDI/FX
;FBMBOE*OTUJUVUFGPS$SPQBOE'PPE3FTFBSDI-JNJUFE
;BLIBSZ +8 "CP#BLS 5. &M.BIEZ "3 Z &M5BCFSZ 4". $IFNJDBM
DPNQPTJUJPO PG XJME NVTISPPNT DPMMFDUFE GSPN "MFYBOESJB &HJQUP 'PPE $IFNJTUSZ
m
;BLMJOB.)POHPTNJDPSSÎ[JDPTDPNFTUJCMFTFO4FSCJBmQSPCMFNBTDPOMBQSPUFDDJÓO
4FHVOEB $POGFSFODJB *OUFSOBDJPOBM TPCSF .JDPSSJ[B 6QQTBMB 4VFDJB m EF KVMJP EF
EJTQPOJCMFFOXXXNZDPSSIJ[BBHVULFEV
;BNPSB.BSUÎOF[ .$ "MWBSEP ( Z %PNÎOHVF[ +. )POHPT 4JMWFTUSFT
$PNFTUJCMFTSFHJÓOEF;BDVBMUJQÃO)JEBMHP1BDIVDB)JEBMHP.ÊYJDP*/*'"1$*3
$&/530
;BNPSB.BSUÎOF[ .$ 3FZHBEBT (' Z $JGVFOUFT + )POHPT DPNFTUJCMFT
TJMWFTUSFT EF MB TVCDVFODB "SSPZB &M ;PSSJMMP %JTUSJUP 'FEFSBM $PZPBDÃO %' .ÊYJDP
*/*'"1
;BOH.%JTUSJCVDJÓOEFIPOHPTZEFMBEJWFSTJEBEEFMPTIÃCJUBUFO5JCFU$IJOB
.D*MWBJOFB
m
;BOH%$B$PMMZCJBBMCVNJOPTBFOFMEJTUSJUPEF-JBOTIBO;IPOHHVP4IJZPOHKVO
)POHPTDPNFTUJCMFTEF$IJOBBCJNPOUIMZKPVSOBM
PWFSBMM/P
m
;BOH.C"OJOUFSFTUJOHFEJCMFNVTISPPN"HBSJDVTHFOOBEJJ;IPOHHVP4IJZPOHKVO
)POHPTDPNFTUJCMFTEF$IJOBBCJNPOUIMZKPVSOBM
PWFSBMM/P
m
;BOH.Z%PJ:4FDPUJVNKJNBMBJDVNTQOPWEF/FQBMmVOGPMLMPSFBDFSDBEFM
BMJNFOUPEFMBCPNJOBCMFIPNCSFEFMBTOJFWFT"DUB#PUBOJDB:VOOBOJDB
m
;BOH.Z1FUFSTFO36OIPOHPDPNFTUJCMFZFOEÊNJDPm&OEPQIZMMVTZVOOBOFOTJT
EF $IJOB ;IPOHHVP 4IJZPOHKVO &EJCMF 'VOHJ PG $IJOB B CJNPOUIMZ KPVSOBM
m
;BOH . Z 1V $ $POGJSNBUPSZ 5VCFS JOEJDB EJTUSJCVJEP FO $IJOB ;IPOHHVP
4IJZPOHKVO&EJCMF'VOHJPG$IJOBBCJNPOUIMZKPVSOBM
;BOH . Z :BOH ;- "HSPDZCF TBMJDBDPMB VO IPOHP DPNFTUJCMF EFMJDJPTP BQFOBT
EFTDVCJFSUP FO :VOOBO ;IPOHHVP 4IJZPOHKVO )POHPT $PNFTUJCMFT EF $IJOB B
#JCMJPHSBGÎB
CJNPOUIMZKPVSOBM
;FMMFS4.Z5PHBTIJ,-PTNBUTVUBLFTBNFSJDBOPTZKBQPOFTFT.JDPMPHÎB
m
;FSPWB.:Z3P[IFOLP(-"UMBTTFEPCOZLIJZBEPWJUZLIHSJCPW<"UMBTEFMPT
IPOHPTDPNFTUJCMFTZWFOFOPTPT6DSBOJB>,ZJW3BEZBOTLBTILPMB1ÃHT
;FSPWB.:Z8BTTFS41&EJCMFBOEUPYJDNVTISPPNTPGUIF$BSQBUIJBOGPSFTUT
6[IPSPE,BSQBUZ1SFTTQÃHT
;IBOH(*MMVTUSBUJPOGPS$IJOBQPQVMBSFEJCMFNVTISPPN#FJKJOH$IJOB4DJFOUJGJD
#PPL4FSWJDFTQÃHT
;IVBOH:$IBSBDUFSJ[BUJPOBOEUFYUVBMDSJUJDJTNPG)VBJFS5SBNFUFTSPCJOJPQIJMB
;IPOHHVP 4IJZPOHKVO )POHPT $PNFTUJCMFT EF $IJOB B CJNPOUIMZ KPVSOBM
m
;IVBOH:Z8BOH:4"QQMJFESFTFBSDIGPSTFDPOEOVUSJUJPOPG(BTUSPEJBFMBUB
2VBMJUZPG(BTUSPEJBFMBUBXJUIUSBDFFMFNFOU;O;IPOHHVP4IJZPOHKVO&EJCMF'VOHJ
PG$IJOBBCJNPOUIMZKPVSOBM
m
"/&90
4VNBSJPEFMBJNQPSUBODJBEFMPT
IPOHPTTJMWFTUSFTDPNFTUJCMFTQPS
SFHJØOZQBÓT
(36104
-PTQBÎTFTIBOTJEPEJWJEJEPTFOTFJTSFHJPOFT
r¦GSJDB
r"TJB
r&VSPQB
r"NÊSJDBEFM/PSUFZ$FOUSBMJODMVJEBMBSFHJÓOEFM$BSJCF
r0DFBOÎB
r"NÊSJDBEFM4VS
'6&/5&4%&*/'03."$*»/
&MTVNBSJPEFQBÎTFTFWJEFODJBMBJOGPSNBDJÓODMBWFTPCSFMPT)4$BVORVFMPTEFUBMMFT
HFOFSBMNFOUFFTUÃOEJTQFSTPTTPCSFUPEPFOMPRVFTFSFGJFSFBMPTNÃTBNQMJPTDPOUFYUPT
EFVTPTTPDJBMFTZFDPOÓNJDPT-BTMJTUBTEFMBTFTQFDJFTiDPNFTUJCMFTuQVCMJDBEBTFO
MBMJUFSBUVSBNJDPMÓHJDBTPOEFVTPNVZMJNJUBEPBVORVFDPOUJFOFOFOGPSNBDMBSBMBT
FTQFDJFTRVFBDUVBMNFOUFTFDPOTVNFO
%PT FTUVEJPT FYIBVTUJWPT TPCSF MPT IPOHPT TJMWFTUSFT EF ¦GSJDB TVETBIBSJBOB IBO
TJEPQBSUJDVMBSNFOUFÙUJMFT3BNNFMPPZ8BMMFZO
TPCSFMPTIPOHPTDPNFTUJCMFT
Z8BMMFZOZ3BNNFMPP
TPCSFMPTWFOFOPTPTZÙUJMFT-BTSFGFSFODJBTDMBWFIBO
TJEPFOVNFSBEBTQPSTFQBSBEP
&O NVDIPT QBÎTFT GVF FODPOUSBEB QPRVÎTJNB JOGPSNBDJÓO QVCMJDBEB Z B WFDFT
JOFYJTUFOUF )BZ BMHVOBT QJTUBT RVF TVHJFSFO MB FYJTUFODJB EFM VTP MPDBM QFSP UPEBWÎB
UJFOF RVF TFS EFTDSJUP /P IFNPT FODPOUSBEP EFUBMMFT TPCSF MPT IPOHPT TJMWFTUSFT
DPNFTUJCMFTFO3VBOEBBVORVFMBTQPCMBDJPOFTGSPOUFSJ[BTEF#VSVOEJMPTSFDPMFDUBO
DPOTVNFO Z WFOEFO SFHVMBSNFOUF 4F FODPOUSBSPO QPDPT EFUBMMFT EF 7JFU /BN Z
OJOHVOPEF.ZBONBSBQFTBSEFTVTMB[PTDVMUVSBMFTDPO$IJOBFMQBÎTDPOMBNBZPS
USBEJDJÓOEFVTPEFMPT)4$&TEJTQPOJCMFQPDBJOGPSNBDJÓOTPCSF"OHPMBBQFTBSEF
MBTHSBOEFTÃSFBTEFNJPNCPQSPEVDUJWBTFOMPTQBÎTFTWFDJOPT
$0.&3$*0:&91035"$*0/&4
(FOFSBMNFOUF FTUB JOGPSNBDJÓO FTUÃ JODPNQMFUB Z BNQMJBNFOUF EJTQFSTB Z MPT EBUPT
TPCSF FM DPNFSDJP TPO JODPNQMFUPT FO QBÎTFT EPOEF MPT IPOHPT TPO JNQPSUBOUFT QPS
TV FYQPSUBDJÓO -B NFKPS JOGPSNBDJÓO EJTQPOJCMF TF FODVFOUSB GVOEBNFOUBMNFOUF FO
XXXGJOUSBDDPNQFSPBCBSDBTPMBNFOUFFMQFSÎPEP
-04)0/(0426&"1"3&$&/&/-044&--04
&TEJTQPOJCMFVOBEFTDSJQDJÓODPNQMFUBEFUPEBTMBTFTQFDJFTNJDÓUJDBTQSJODJQBMNFOUF
MPTNBDSPNJDFUPT
RVFIBOBQBSFDJEPFOTFMMPTQPTUBMFTEFTEFRVF3VNBOJBQSPEVKPFM
QSJNFSFKFNQMBSFO.D,FO[JF
-BNBZPSQBSUFEFMPTFKFNQMBSFTTPO
FTQFDJFTDPNFTUJCMFT5BNCJÊOBQBSFDFOMBTWBSJFEBEFTNFEJDJOBMFTZWFOFOPTBT-BMJTUB
EFMBTFTQFDJFTRVFBQBSFDFOFOMPTTFMMPTFTÙUJMQBSBBRVFMMPTQBÎTFTEPOEFIBZQPDBT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
GVFOUFT EF JOGPSNBDJÓO QPS FKFNQMP MB 3FQÙCMJDB 1PQVMBS %FNPDSÃUJDB EF $PSFB
-BT QFRVFÒBT OBDJPOFT JOTVMBSFT FYQMPUBO MBT FTQFDJFT DPMPSJEBT QBSB JODSFNFOUBS MPT
CFOFGJDJPTFDPOÓNJDPTQSPWFOJFOUFTEFMBTWFOUBTEFTFMMPTZMPTFKFNQMBSFTVTBEPTTPO
QPSMPUBOUPVOBQPCSFJOEJDBDJÓOEFJNQPSUBODJBMPDBM
"OFYP4VNBSJPEFMBJNQPSUBODJBEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTQPSSFHJÓOZQBÎT
«GSJDB
/P IB TJEP FODPOUSBEB JOGPSNBDJÓO TPCSF MPT )4$ Z PUSBT FTQFDJFT ÙUJMFT FO MPT
TJHVJFOUFTQBÎTFT
$BCP7FSEF3FQÙCMJDBEFM$IBE$PNPSBT%KJCPVUJ(VJOFB&DVBUPSJBM&SJUSFB
(BNCJB-JCFSJB.BMÎ3FQÙCMJDBEF.BVSJDJP/JHFSJB4BOUP5PNÊZ1SÎODJQF
4FZDIFMMFT4U)FMFOB4VEÃO5PHP4BIBSBPDDJEFOUBM
%PT UFYUPT GSFDVFOUFNFOUF DJUBEPT BQBSFDFO DPNP 38 3BNNFMPP Z 8BMMFZO
Z838BMMFZOZ3BNNFMPP
1BSBJOGPSNBDJÓOHFOFSBMTPCSFMPT1'/.FO¦GSJDBWÊBTFUBNCJÊO'"0C
-B
ÙOJDBJOGPSNBDJÓOFODPOUSBEBTPCSFMPTIPOHPTDPNPBMJNFOUPEFFNFSHFODJBFODBTPT
EFIBNCSVOB
TFSFGJFSFBMPTSFGVHJBEPTEF.P[BNCJRVFRVFFTDBQBSPOIBDJB.BMBXJ
FOMPTBÒPTPDIFOUB8JMTPOFUBM
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
"/(0-"
)BZJOGPSNBDJØOMJNJUBEBTPCSFMBTFTQFDJFTDPNFTUJCMFTSFDPMFDUBEBTZVTBEBT
MPDBMNFOUF'"0B
&KFNQMPTBJTMBEPTEFFTQFDJFTTJMWFTUSFTDPNFTUJCMFTTF
QVFEFOFODPOUSBSFO38"OHPMBUJFOFCPTRVFTEFNJPNCPTJNJMBSFTBMPTEFTVT
QBÓTFTWFDJOPTEPOEFMBTFTQFDJFTDPNFTUJCMFTTPOSFDPMFDUBEBTZDPOTVNJEBTDPO
NVDIBGSFDVFODJB4FOFDFTJUBVMUFSJPSJOGPSNBDJØO
"3(&-*"
)BFYQPSUBEPNBUTVUBLFTFOQFRVF×BTDBOUJEBEFTB+BQØOQSJODJQBMNFOUFMPT
5SJDIPMPNBDBMJHBUVN$SFDFOMBTiUSVGBTEFMEFTJFSUPwQFSPIBZQPDPTEFUBMMFTBM
SFTQFDUP"MTIFJLIZ5SBQQF
)BZQPTJCMFTFYQPSUBDJPOFTB&TQB×B#PSHIJ
DPNVOJDBDJØOQFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBMXJMEFEJCMFGVOHJJO
*UBMZ
#&/*/
-PTÞMUJNPTUSBCBKPTSFWFMBOVOÈNCJUPFYUFOTPEFFTQFDJFTRVFTPODPOTVNJEBT
MPDBMNFOUF%F,FTFM$PEKJBZ:PSPV
ZVOBHSBOUSBEJDJØOEFDPOTVNPEF
)4$1PDPTTPOWFOEJEPTOPSNBMNFOUF
#0548"/"
38MJTUBQPDBTFTQFDJFT-BTUSVGBTEFMEFTJFSUPTFDPNFOZTFFYQPSUBOQFSPMBT
SFDPMFDDJPOFTTPONVZWBSJBCMFT5BZMPSFUBM
#63,*/"'"40
38QSFTFOUBOVOBMJTUBEFQPDBTFTQFDJFT6OFTUVEJPTPCSFMPTIPOHPT
FDUPNJDPSSÓ[JDPT4BOPO#BZ%FYIFJNFS
DPOGJSNBRVFMBTFTQFDJFTDPNFTUJCMFT
FYJTUFOBVORVFOPTFEFCBUFTPCSFTVVTP
#636/%*
&YJTUFONVDIBTFTQFDJFTEJGFSFOUFTRVFTPOSFDPMFDUBEBTZWFOEJEBTDBEBB×PQPS
MBTQPCMBDJPOFTSVSBMFT#VZDLC
)BZQSFGFSFODJBTDMBSBTQPSBMHVOBTFTQFDJFT
FOUSFMPTFYQBUSJBEPTBGSJDBOPTZFVSPQFPT
$".&3Á/
&YJTUFONVDIBTFTQFDJFTEJGFSFOUFTRVFTPOSFDPMFDUBEBTZWFOEJEBTDBEBB×PQPS
MBTQPCMBDJPOFTSVSBMFT#VZDLC
)BZQSFGFSFODJBTDMBSBTQPSBMHVOBTFTQFDJFT
FOUSFMPTFYQBUSJBEPTBGSJDBOPTZFVSPQFPT
$¼5&%*70*3&
38FOVNFSBQPDPTSFHJTUSPTQFSPIBZTVHFSFODJBTTPCSFFMVTPEFMPT)4$
FTDBTBNFOUFSFQPSUBEPZTPCSFMBTWBSJBTFTQFDJFTDPOTVNJEBTZDPNFSDJBMJ[BEBT
&(*150
4ØMPQPDPTJOGPSNFTIBOTJEPFTUVEJBEPT;BLIBSZFUBM
/PIBZFWJEFODJBTRVF
TVHJFSBORVFMPT)4$TPOBCVOEBOUFTPVUJMJ[BEPTDPUJEJBOBNFOUF
&5*01¶"
4ØMPEPTCSFWFTJOGPSNFTTPODPOPDJEPT"CBUF5VOP
/PIBZFWJEFODJBT
TPCSFVOVTPBNQMJPOJTPCSFMBJNQPSUBODJBEFMPT)4$
("#»/
38DPOUJFOFEPTSFHJTUSPTSFDPQJMBEPTEFBOUFSJPSFTJOGPSNFTRVFIBOOPNJOBEP
UJQPTEJGFSFOUFTEF)4$QFSPVTBOEPMPTOPNCSFMPDBMFTQBSBMBNBZPSQBSUFEF
FMMPT8BMLFS
ZRVFTVHJFSFFMDPOTVNPDPNÞO
()"/"
38DPOUJFOFQPDPTSFHJTUSPT-BJOGPSNBDJØOEFM*OTUJUVUPEF*OWFTUJHBDJØOQBSBMB
4JMWJDVMUVSBEF(IBOBDPOGJSNBRVFWBSJBTFTQFDJFTTPOSFDPMFDUBEBTZVTBEBT0CPEBJ
Z"QFUPSHCPS
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
(6*/&"
83UJFOFVOSFHJTUSP4FTVQPOFRVFFYJTUFVOVTPNVDIPNÈTBNQMJPZQVFEF
IBCFSTFFTDBQBEPTVEFUFDDJØOQPSRVFMBSFDPMFDDJØOTFEBEFGPSNBMPDBMZQPS
UFNQPSBEB
("#»/
38DPOUJFOFEPTSFHJTUSPTFYUSBÓEPTEFJOGPSNFTBOUFSJPSFTRVFFOVODJBCBO
UJQPTEJGFSFOUFTEF)4$VUJMJ[BOEPTVTOPNCSFTMPDBMFTQBSMBNBZPSQBSUFEFFMMPT
8BMLFS
FJOEJDBCBTVDPOTVNPGSFDVFOUF
(6*/&"#*44"6
/PIBZJOGPSNBDJØOTPCSFMPT)4$BVORVFVOFTUVEJPEFMPTIPOHPTNJDPSSÓ[JDPT
DPOGJSNBMBQSFTFODJBEFWBSJFEBEFTDPNFTUJCMFT5IPFOZ#B
(6*/&"
83UJFOFVOSFHJTUSP4FTVQPOFVODPOTVNPNÈTGSFDVFOUFZMBSFDPQJMBDJØO
EFEBUPTQVFEFIBCFSTJEPFTDBTBEFCJEPBRVFMBTSFDPMFDDJPOFTTPO
GVOEBNFOUBMNFOUFMPDBMFTZQPSUFNQPSBEB
+".")*3*:"«3"#&
-*#*"
4ØMPVOBSFGFSFODJBTPCSFMBTiUSVGBTEFMEFTJFSUPw"MTIFJLIZ5SBQQF
,&/:"
38Z83DPOUJFOFWBSJPTSFHJTUSPTQFSPOPIBZFWJEFODJBTRVFSFTQBMEFOVOB
SFDPMFDDJØOZDPNFSDJPNÈTBNQMJPT
-&405)0
38DPOUJFOFVOSFHJTUSPEFVOIPOHP5FSNJUPNZDF/PIBZPUSBTJOGPSNBDJPOFT
EJTQPOJCMFTQFSPTFQVFEFPCTFSWBSMBQSFTFODJBEFFTQFDJFTBSCØSFBTFOMPTCPTRVFT
QJOPT
BTPDJBEBTDPOMPTIPOHPTNJDPSSÓ[JDPTDPNFTUJCMFT
."%"("4$"3
38Z83PCTFSWBOWBSJBTFTQFDJFTDPNFTUJCMFTBVORVFOPFYJTUFOEFUBMMFT
EFSFDPMFDDJØODPOTVNPZWFOUB#PVSJRVFU
/PTFUJFOFOOPUJDJBTEF
FYQPSUBDJPOFT4FOFDFTJUBOFTUVEJPTNÈTEFUBMMBEPTEBEBTMBTDMBSBTTF×BMFTEF
NBZPSFTBDUJWJEBEFT#VZDL
."-"8*
&TVOQFRVF×PQBÓTDPOVOBUSBEJDJØOCJFOBSSBJHBEBEFVTPEF)4$)BTJEP
FTUVEJBEPEFUBMMBEBNFOUFDPNQBSÈOEPMPDPOQBÓTFTBOÈMPHPT3883.PSSJT
#PBFUBM
7ÏBTFUBNCJÏOXXXNBMBXJGVOHJPSH
."336&$04
-PTNBDSPNJDFUPTFTUÈOCJFOEFTDSJUPTZIBZVOBNQMJPOÞNFSPEFFTQFDJFT
DPNFTUJCMFT.BMFODPOZ#FSUBVMU
4VJNQPSUBODJBQBSBMBTQPCMBDJPOFTMPDBMFT
OPFTCJFODPOPDJEBUPEBWÓB&YJTUFOFYQPSUBDJPOFTFOQFRVF×BFTDBMBIBDJB+BQØO
JODMVZFOEPVOQBSJFOUFEFMPTNBUTVUBLFT5SJDIPMPNBDBMJHBUVNWFB,ZUPWVPSJ
."63*$*0
&YJTUFOQPDPTSFHJTUSPT38831FFSBMMZ
QFSPOPIBZEFUBMMFTEJTQPOJCMFT
.0;".#*26&
&TVOQBÓTSJDPFOFTQFDJFTDPNFTUJCMFT&TUPTIPOHPTTPOSFDPMFDUBEPT
SVUJOBSJBNFOUFDPOTVNJEPTZWFOEJEPTBMJOUFSOPQFSPMPTEFUBMMFTTPONVZ
TVQFSGJDJBMFT6BDJRVFUF%BJZ.PUUB#PBFUBM
4FSFRVJFSFOFTUVEJPT
VMUFSJPSFT5BNCJÏOIBZFWJEFODJBTEFFYQPSUBDJPOFTEF#FEVMJTB*UBMJBBUSBWÏTEF
DPNQB×ÓBTFTUBCMFDJEBTFO4VEÈGSJDB#PSHIJDPNVOJDBDJØOQFSTPOBM1PSDJOJ
BOEPUIFSDPNNFSDJBMXJMEFEJCMFGVOHJJO*UBMZ
/".*#*"
1PDPTSFHJTUSPTBJTMBEPT38Z83
/PFTJOEJDBEPVOVTPNBZPSEFFTQFDJFT
TJMWFTUSFTDPNFTUJCMFTQFSPIBZFYQPSUBDJPOFTSFHVMBSFTEFiUSVGBTEFMEFTJFSUPw
5BZMPSDPNVOJDBDJØOQFSTPOBM&EJCMFGVOHJFBUFOBOEUSBEFEJO#PUTXBOB
BOE/BNJCJB
.BDSPNJDFUPTÞUJMFTDSFDFOFOFMEFTJFSUPEF/BNJC+BDPCTPO
/*(&3*"
#SFWFTMJTUBTEFFTQFDJFTDPNFTUJCMFTIBOTJEPOPUBEBTQSJODJQBMNFOUFFODPOFYJØO
DPOMBTQPCMBDJPOFT:PSVCB38Z83
&YJTUFONVDIBTPUSBTFTQFDJFTQFK0TP
QFSPBNFOVEPSFQJUFOEFUBMMFTQVCMJDBEPTQSFDFEFOUFNFOUF
3&1Á#-*$"
$&/530"'3*$"/"
38FOVNFSBFTQFDJFTEFWBSJBTGVFOUFT-PTIBCJUBOUFTEFMPTCPTRVFTQBSFDFO
TFSMPTNBZPSFTDPOTVNJEPSFTEFMPTIPOHPTTJMWFTUSFTBVORVFFTUPQPESÓBSFGMFKBS
FTUVEJPTNÈTEFUBMMBEPTEFFTUBTDPNVOJEBEFT
3&1Á#-*$"%&-$0/(0
38UJFOFQPDBJOGPSNBDJØO6OQBÓTFTDBTBNFOUFFTUVEJBEPEPOEFQPESÓB
FTQFSBSTFVOVTPNÈTBNQMJP
3&1Á#-*$"
%&.0$3«5*$"%&-
$0/(0&9;"*3&
.VDIBTQVCMJDBDJPOFTZNVDIPJOUFSÏTFOJOWFTUJHBDJPOFTSFWFMBOVOVTPBNQMJPZ
TJHOJGJDBUJWPEFMBTFTQFDJFTDPNFTUJCMFT.VDIPTSFQPSUFTTFDPODFOUSBOFOMBSFHJØO
EF4IBCBQFK%FHSFFG
*OGPSNBDJØOUBNCJÏOFO38
3&1Á#-*$"6/*%"%&
5"/;"/¶"
38Z83FOVNFSBONVDIBTFTQFDJFT#VFOBTEFTDSJQDJPOFTEJTQPOJCMFTFOVO
BNQMJPSBEJPEFIPOHPTDPNFTUJCMFTRVFTPOSFHVMBSNFOUFSFDPMFDUBEPTDPOTVNJEPT
ZWFOEJEPTMPDBMNFOUF%JGFSFOUFTFTQFDJFTDPOTVNJEBTFOMPTCPTRVFTEFNJPNCP
ZFOMBTÈSFBTNPOUB×PTBT)BTJEPQVCMJDBEBVOBHVÓBEFIPOHPTFYDFMFOUFZCJFO
JMVTUSBEB)ÊSLÚOFO/JFNFMÊZ.XBTVNCJ
38"/%"
/PIBZSFHJTUSPTFO38P83TJOPJOGPSNBDJPOFTJNQPSUBOUFTEF#VSVOEJ#VZDL
C
"OFYP4VNBSJPEFMBJNQPSUBODJBEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTQPSSFHJÓOZQBÎT
1"¶4
640%&-04)0/(3044*-7&453&4$0.&45*#-&4
4&/&("-
-PTJOGPSNFTTPCSFMBTFTQFDJFTFDUPNJDPSSÓ[JDBTDPOGJSNBOMBQSFTFODJBEFFTQFDJFT
DPNFTUJCMFT5IPFOZ#B
QFSPTFTBCFQPDPTPCSFTVVTPQPSQBSUFEFMBT
QPCMBDJPOFTMPDBMFT%VDPVTTP#BZ5IPFO
4*&33"-&0/"
4ØMPVOBSFGFSFODJBQBTBKFSBBMPT5FSNJUPNZDFT
IBTJEPFODPOUSBEB1FHMFSZ
7BOIBFDLF
-BTNVKFSFT.FOEFSFDPMFDUBOZWFOEFOIPOHPTDPNFTUJCMFT
FO4FHCXFNBZQSFTVNJCMFNFOUFFTUPTVDFEFFOPUSPTNFSDBEPTMPDBMFT%PXO
DPNVOJDBDJØOQFSTPOBM8JMEFEJCMFGVOHJ4JFSSB-FPOF
4FOFDFTJUBOFTUVEJPT
VMUFSJPSFT
40."-*"
/PIBZJOGPSNBDJØOOJJOEJDBDJPOFTEFVOVTPBNQMJPPSFHVMBS38
46%«'3*$"
.VDIBJOGPSNBDJØONJDPMØHJDBQFSPEFUBMMFTTPCSFMBTQSFGFSFODJBTMPDBMFTZQSÈDUJDBT
OPFVSPQFBTFTUÈOTPMBNFOUFTJFOEPSFWFMBEPQPDPBQPDP4IBDLMFUPOFUBM
7FBVMUFSJPSFTEFCBUFTFO38Z83-PT5FSNJUPNZDFTTPOSFDPMFDUBEPT
ZWFOEJEPTFO,XB;VMVWBOEFS8FTUIVJ[FOZ&JDLFS
)BZFYQPSUBDJPOFT
SFHVMBSFTEF#PMFUVTFEVMJTEFMBTQMBOUBDJPOFTEFQJOPT.BSBJTDPNVOJDBDJØO
QFSTPOBM$PMMFDUJOH#FEVMJTJO4PVUI"GSJDB
RVFFNQF[BSPOFOMPTB×PTTFUFOUB
1PUUDPNVOJDBDJØOQFSTPOBM&YQPSUPG#FEVMJTGSPN4PVUI"GSJDB
48";*-"/%*"
1PDPTEFUBMMFTEJTQPOJCMFTTPCSFFMVTPMPDBM4FIBOFGFDUVBEPFYQPSUBDJPOFT
JSSFHVMBSFTB&VSPQBEFCPMFUPTFOQFRVF×BTDBOUJEBEFTEVSBOUFMPTB×PTOPWFOUB
ZQBSFDFRVFUPEBWÓBTFMMFWBOBDBCP#PSHIJDPNVOJDBDJØOQFSTPOBM1PSDJOJ
BOEPUIFSDPNNFSDJBMXJMEFEJCMFGVOHJJO*UBMZ
5Á/&;
4FFODPOUSBSPOTØMPCSFWFTJOGPSNFTTPCSFMBTUSVGBTEFMEFTJFSUP"MTIFJLIZ5SBQQF
&YQPSUBEPSFTNFOPSFTFJSSFHVMBSFTEFiTFUBTwQPTJCMFNFOUFB&TQB×B
#PSHIJDPNVOJDBDJØOQFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBMXJMEFEJCMF
GVOHJJO*UBMZ
6("/%"
38DPOUJFOFTPMBNFOUFQPDPTSFHJTUSPT4FJOEJDBVOBUSBEJDJØONÈTBNQMJBZNÈT
GVFSUFWFB,BUFOEFFUBM
-BJOGPSNBDJØOEF#VSVOEJFTSFMFWBOUF#VZDL
C
;".#*"
&MVTPBNQMJPDPNÞOFJNQPSUBOUFEFMBTFTQFDJFTTJMWFTUSFTDPNFTUJCMFTIBTJEP
CJFOEFTDSJUPQFK1FHMFSZ1JFBSDF1JFBSDF
38Z83SFTVNFOMPT
SFHJTUSPT
;*.#"#8&
4FSFDPMFDUBODPOTVNFOZWFOEFODPNÞONFOUF)4$4FFYQPSUBO#PMFUPTFEVMJTB
&VSPQB#PBFUBM
7FBUBNCJÏO3ZWBSEFO1JFBSDFZ.BTVLB
Z83-BT
USBEJDJPOFTMPDBMFTIBOTJEPJOWFTUJHBEBTEFUBMMBEBNFOUFTØMPFOMPTÞMUJNPT
B×PTZTPONFOPTEFTDSJUBTDPNQBSBEBTDPO.BMBXJZ;BNCJB6MUFSJPSJOGPSNBDJØO
FTHBSBOUJ[BEB
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
"TJB
/PTFIBFODPOUSBEPJOGPSNBDJÓOTPCSFMPT)4$ZPUSBTFTQFDJFTÙUJMFTFOMPTTJHVJFOUFT
QBÎTFTPSFHJPOFT
"[FSCBJZÃO#BISFJO#SVOFJ%BSVTTBMBN$BNCPZB$IJQSF'SBOKBEF(B[B
(FPSHJB,B[BKTUÃO.BMEJWBT4VMUBOÎBEF0NÃO2BUBS3FQÙCMJDB¦SBCFEF4JSJB
5BZJLJTUÃO5JNPS-FTUF&NJSBUPT¦SBCFT6OJEPT6[CFLJTUÃO
3JCFSB0DDJEFOUBM:FNFO
-B QSPYJNJEBE EF "[FSCBJZÃO Z (FPSHJB DPO MPT QBÎTFT RVF UJFOFO VOB JOEVEBCMF
USBEJDJÓO EF )4$ QFK "SNFOJB Z 5VSRVÎB
TVHJFSF VO VTP NÃT BNQMJP EF )4$ EFM
RVF IB TJEP SFQPSUBEP 6OBT JOGPSNBDJPOFT BOFDEÓUJDBT JOEJDBO RVF ,B[BKTUÃO UJFOF
iQPDBPOJOHVOBuUSBEJDJÓOEF)4$4FTVQPOFFMDPOTVNPEF)4$FO5BZJLJTUÃOZ
6[CFLJTUÃOQFSPUJFOFUPEBWÎBRVFTFSDPOGJSNBEP&O$BNCPZBEFJHVBMGPSNBIBZ
VOBUSBEJDJÓOEFVTPEF)4$FOUSFMBTQPCMBDJPOFTBVUÓDUPOBTEFMBSFHJÓO)PTBLB
DPNVOJDBDJÓOQFSTPOBM-BPTFEJCMFGVOHJ
7FMBT*MVTUSBDJPOFTZ
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
"'("/*45«/
4FIBOEFTDSJUPQPDBTFTQFDJFTDPNFTUJCMFT#BUSB
4FIBOPCTFSWBEP
FYQPSUBDJPOFTEFIPOHPTDPMNFOJMMB4BCSBZ8BMUFS
"3"#*"4"6%*5"
4FFODPOUSØTØMPJOGPSNBDJØOMJNJUBEBTPCSFMBTUSVGBTEFMEFTJFSUP5JSNBOJB
#PLIBSZZ1BSWF[
"3.&/*"
6OHSVQPEFFTQFDJFTDPNFTUJCMFTFTSFDPMFDUBEPDPOTVNJEPZDPNFSDJBMJ[BEP
MPDBMNFOUF/PTFIBOPCTFSWBEPFYQPSUBDJPOFT/BOBHVZMBODPNVOJDBDJØO
QFSTPOBM&EJCMFGVOHJJO"SNFOJB
#"/(-"%&4)
)BTJEPPCTFSWBEPVOVTPFOQFRVF×BFTDBMBQPSQBSUFEFMBQPCMBDJØO$IBLNBFO
MBTFYUFOTJPOFTNPOUB×PTBT4JEEJRJ
#)65«/
4FIBOPCTFSWBEPFYQPSUBDJPOFTEFNBUTVUBLFTB+BQØOFOQFRVF×BFTDBMB
JNQPSUBOUFTQBSBMBFDPOPNÓBMPDBM-BTFTQFDJFTTJMWFTUSFTDPNFTUJCMFTTFWFOEFO
SFHVMBSNFOUFFOMPTNFSDBEPTBVORVFTFEFTDPOPDFDVÈMFTZMBDBOUJEBE/BNHZFM
$)*/"
&TFMMÓEFSFOMBQSPEVDDJØOVTPZFYQPSUBDJØOEF)4$EFUPEPFMNVOEPDPO
VOBUSBEJDJØOJNQPSUBOUFZBOUJHVBFOFMVTPEFMBTFTQFDJFTNFEJDJOBMFT)BZ
JNQPSUBOUFTFYQPSUBDJPOFTEFNBUTVUBLFTB+BQØOBVORVFMBTQSÈDUJDBTEF
SFDPMFDDJØOFTUÈODBVTBOEPQSFPDVQBDJØOBDFSDBEFMBTPTUFOJCJMJEBEEFMB
QSPEVDDJØOFOBMHVOBTÈSFBT8JOLMFS
5SVGBTZ#PMFUVTFEVMJTFYQPSUBEPTNÈT
SFDJFOUFNFOUFFODBOUJEBEFTJNQPSUBOUFTB&VSPQB#PSHIJDPNVOJDBDJØO
QFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBMXJMEFEJCMFGVOHJJO*UBMZ
-BTMJTUBTHFOFSBMFTEFFTQFDJFTEFVTPDPUJEJBOPIBOTJEPQVCMJDBEBTGVFSBEF$IJOB
QFK)BMMFUBMB
QFSPEFCFSÓBOTFSDPOTVMUBEBTDPOVOBMJUFSBUVSBDIJOBFO
DPOUJOVBFYQBOTJØO7FB.BPZ+JBOHQBSBMB3FHJØO"VUØOPNBEF5JCFU
:JOHFUBM:JOHFUBM;IPOHHVP4IJZPOHKVO<)POHPT$PNFTUJCMFTEF
$IJOB>JOGPSNBDJØOQVCMJDBEBDPOGSFDVFODJBQFSPFODIJOP)BTJEPQVCMJDBEBQPDB
FYQMJDBDJØOTPCSFMPTIPOHPTWFOEJEPTFOMPTNFSDBEPT$IBNCFSMBJO
BVORVF
FTVOBBDUJWJEBEBNQMJBFJNQPSUBOUF1BSBMBTFTQFDJFTNFEJDJOBMFTHFOFSBMNFOUF
WFB)PCCT
-BNFKPSHVÓBZGVFOUFEFJOGPSNBDJØOTPCSFNJDPMPHÓBZFTQFDJFT
EF)4$FT.BP
'*-*1*/"4
6OEPDVNFOUPNJDPMØHJDPJNQPSUBOUF.FOEP[B
FOVNFSBVOBTFTQFDJFT
NVDIBTEFMBTDVBMFTDPOOPNCSFTMPDBMFTZBNQMJBTTVHFSFODJBTEFTVVTP&TUB
JOGPSNBDJØOOPTFJODMVZFFOMPTBOFYPT-PTIBCJUBOUFTEFMPTCPTRVFTEF1BMBXBO
DPOTVNFOUBNCJÏO)4$/PWFMMJOP
)0/(,0/(3FHJØO
BENJOJTUSBUJWB
FTQFDJBM$IJOB
$IBOHZ.BP
FTVOBWFSTJØODPNQMFUBEFNBDSPIPOHPTZEFTVTDBSBDUFSÓTUJDBT
ÞUJMFTFODIJOP
5JFOFVOBBNQMJBSFMFWBODJBQBSB$IJOB
"OFYP4VNBSJPEFMBJNQPSUBODJBEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTQPSSFHJÓOZQBÎT
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
*/%*"
-BTMJTUBTEFMBTFTQFDJFTDPNFTUJCMFTEFMPTFOPSNFTSFHJTUSPTNJDPMØHJDPTTPO
EJGÓDJMFTEFJOUFSQSFUBSZMPTBTQFDUPTTPDJBMFTZFDPOØNJDPTBQBSFDFOFTDBTBNFOUF
FTUVEJBEPT1BSBJOGPSNBDJØOHFOFSBMWFB1VSLBZBTUIBZ$IBOESB-PTFTUVEJPT
TPCSFMBTDPTUVNCSFTMPDBMFTJODMVZFO)BSTI3BJZ"ZBDIJ)BSTI3BJZ4POJ
"EIJLBSZFUBM4FSFDPMFDUBOIPOHPTDPMNFOJMMBQBSBMBFYQPSUBDJØOFO
MBTSFHJPOFT)JNBMBZBOBT'"0C
ZTPOEFJNQPSUBODJBFDPOØNJDB4FOFDFTJUBO
VMUFSJPSFTFTUVEJPTQBSUJDVMBSNFOUFFOMBT[POBTNPOUB×PTBTEPOEFWJWFOMBT
QPCMBDJPOFTBVUØDUPOBTQPSFKFNQMP5SJQVSBZ.J[PSBN
*/%0/&4*"
)BTJEPQVCMJDBEBNVZQPDBJOGPSNBDJØOBVORVFIBZVOBDMBSBFWJEFODJBEFVO
BNQMJPVTPZEFWFOUBTFOMPTNFSDBEPT#VSLIJMM)FZOF3JGBJ
)BZNVDIPJOUFSÏTFOMBDVMUJWBDJØOEFIPOHPTQFK(VOBXBO
ZÏTUPT
TPOBNQMJBNFOUFEJTQPOJCMFT-BFOPSNFMJUFSBUVSBTPCSFMPT1'/.UJFOFQPDPT
EFUBMMFTTPCSFMPT)4$BVORVFMBTGVFOUFTMPDBMFTEF,BMJNBOUBO-FMVZBOJ
DPNVOJDBDJØOQFSTPOBM&EJCMFGVOHJPG,BMJNBOUBO
IBOFOVNFSBEPNÈTEFEJF[
EJGFSFOUFTUJQPTDPUJEJBOBNFOUFSFDPMFDUBEPTZDPOTVNJEPTFOMBTÈSFBTGPSFTUBMFTMB
NBZPSQBSUFEFMBTDVBMFTTPOFTQFDJFTTBQSØGJUBT4FWFOEFOMBTFTQFDJFT4DMFSPEFSNB
FODPOTFSWB%VDPVTTP#BZ5IPFO
-PTJOGPSNFTQVCMJDBEPTTPCSFMPTBHÈSJDPT
ZCPMFUPTTPOEJTQPOJCMFTFOXXXNZDFOBTGTVFEVFJODMVZFOWBSJBTFTQFDJFT
TJMWFTUSFTDPNVOFT
*3«/
4FSFQSPEVDFOMBTUSVGBTQFSPEFTDPOPDFNPTTVJNQPSUBODJBQBSBMBQPCMBDJØOMPDBM
4BSFNJ"NNBSFMMPVZ.PIBNNBEJ
0USBTFTQFDJFTDPNFTUJCMFTZNFEJDJOBMFT
IBOTJEPSFHJTUSBEBTFOMBMJUFSBUVSBNJDPMØHJDBWFB/JFNFMÊZ6PUJMB*TJMPHMVZ
8BUMJOH
*3"2
4FDPOPDFTØMPVOBSFGFSFODJB<TPCSFMBTUSVGBTEFMEFTJFSUP>"M/BBNB&XB[FZ
/FNB
*43"&-
-BMMFHBEBSFDJFOUFEFNVDIPTSVTPTIBJOUSPEVDJEPVOBJOGMVFODJBNJDPGÓMJDB
CBTUBOUFGVFSUF8BTTFS
BVORVFIBZQPDBJOGPSNBDJØOEJTQPOJCMFTPCSFMPT
DBNCJPTTVGSJEPTQPSTVSFDPMFDDJØOZDPOTVNP1SFDFEFOUFNFOUFIBCÓBTØMPVO
JOUFSÏTMJNJUBEPFOQPDBTFTQFDJFTQSJODJQBMFT
+"1»/
5JFOFVOBUSBEJDJØOOPUPSJBFJNQPSUBOUFEFSFDPMFDDJØODPOTVNPZWFOUBEF
)4$QFK,BXBHPF4UBNFUT
)BZVOBFYUFOTBMJUFSBUVSBTPCSFMPT
NBDSPNJDFUPTQFK*NB[FLJFUBM
ZMBTJOWFTUJHBDJPOFTTPCSFMBTFTQFDJFT
DPNFTUJCMFTQBSUJDVMBSNFOUFTPCSFMPTNBUTVUBLFT+BQØOFTVOQSJODJQBMJNQPSUBEPS
EFNBUTVUBLFTZEFTVTFTQFDJFTSFMBDJPOBEBTEFUPEPFMNVOEP
+03%"/*"
4FDPOTVNFONVDIBTFTQFDJFTFOMBMPDBMJEBE$BWBMDBTFMMF4BCSBZ8BMUFS
,*3(6*45«/
6OBMJTUBDPNQMFUBEFMBTFTQFDJFTDPNFTUJCMFTIBTJEPQVCMJDBEB&MDIJCBFW
RVFTVHJFSFVOBNQMJPQFSPOPOFDFTBSJBNFOUFJNQPSUBOUFVTPEFMBTFTQFDJFT
TJMWFTUSFT
,68"*5
4FDPOPDFTØMPVOBWFSTJØODPOVOBSFGFSFODJBQBTBKFSBTPCSFMBTUSVGBTEFMEFTJFSUP
"MTIFJLIZ5SBQQF
-¶#"/0
4FSFDPMFDUBONVDIBTFTQFDJFTMPDBMNFOUFQFSPBQBSFOUFNFOUFTVDPOTVNPTFEBFO
QFRVF×BFTDBMBZOPFTUÈHFOFSBMJ[BEP4BCSBZ8BMUFS
."-"4*"
-PTIPOHPT5FSNJUPNZDFTPOSFDPMFDUBEPTZWFOEJEPTSFHVMBSNFOUF1FHMFSZ
7BOIBFDLF
-PTJOGPSNFTNJDPMØHJDPTEF4BSBXBL$IJO$IJO
JOTJOÞBOVOVTPSFHVMBSEFFTQFDJFTTJMWFTUSFTDPNFTUJCMFTDPOGJSNBEPQPSWFSTJPOFT
BOFDEØUJDBT+POFTDPNVOJDBDJØOQFSTPOBM8JMEFEJCMFGVOHJVTFJO4BSBXBL
.0/(0-*"
/PIBZJOGPSNBDJØOQFSPTFTVQPOFRVFFYJTUFOUSBEJDJPOFTBOÈMPHBTBMBTEFMPT
QBÓTFTGSPOUFSJ[PTQFK$IJOB
.:"/."3
4FIBOSFHJTUSBEPMPTIPOHPT5FSNJUPNZDFFOMBMJUFSBUVSBNJDPMØHJDB1FHMFS
Z7BOIBFDLF
ZTJOMVHBSBEVEBTTPODPOTVNJEPTQFSPOPFYJTUFOPUSPT
EFUBMMFTTPCSFFTUBJOGPSNBDJØO4JOFNCBSHPTFTVQPOFRVFFYJTUFONPEFMPTEF
DPNQPSUBNJFOUPBOÈMPHPTFOMBTSFHJPOFTNPOUB×PTBTCBTÈOEPTFFOMBTUSBEJDJPOFT
EFMPTQBÓTFTGSPOUFSJ[PT
/&1"-
&YJTUFVOBBNQMJBSFDPMFDDJØOWFOUBZDPOTVNPQFK"EIJLBSJZ"EIJLBSJ
NÈT
BDUJWBNFOUFFOMBT[POBTNPOUB×PTBT
1",*45«/
4FFODPOUSØQPDBJOGPSNBDJØO4FSFDPMFDUBOZFYQPSUBOIPOHPTDPMNFOJMMB'"0
C
-PTJOGPSNFTNJDPMØHJDPTOPEFTDSJCFOMBTQSÈDUJDBTOJMBTQSFGFSFODJBTMPDBMFT
QPSMBTFTQFDJFT#BUSB4ZFE3JB[Z.BINPPE,IBO
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
3&1Á#-*$"%&$03&"
5JFOFVOBGVFSUFUSBEJDJØOMPDBMEFVTPEF)4$ZFTVOQSJODJQBMFYQPSUBEPSEF
NBUTVUBLFTB+BQØO1BSBVMUFSJPSJOGPSNBDJØOWFB,JNZ,JN
3&1Á#-*$"
%&.0$3«5*$"
1016-"3-"0
&TEJTQPOJCMFVOBMJTUBEFMBTFTQFDJFTDPNFTUJCMFTDPOGPUPTFOIUUQHJFDIHSPVQIQ
JOGPTFFLDPKQLJOPLPFOHIUNM-PTFTUVEJPTEFMPT1'/.JODMVZFOSFGFSFODJBTIBDJB
MPT)4$3JKTPPSUZ1JLVO
&MVTPMPDBMFTBNQMJP)PTBLBDPNVOJDBDJØO
QFSTPOBM-BPTFEJCMFGVOHJ
QFSPFTDBTBNFOUFEFTDSJUP4FOFDFTJUBOVMUFSJPSFT
FTUVEJPTRVFSFWFMFONÈTEFUBMMFTTPCSFMPTVTPTEFMPT)4$QPSQBSUFEFMBT
QPCMBDJPOFTRVFWJWFOFOMBT[POBTNPOUB×PTBTEFMBSFHJØO
3&1Á#-*$"1016-"3
%&.0$3«5*$"%&
$03&"
)BZJOEVEBCMFNFOUFVOBGVFSUFUSBEJDJØOMPDBMEFSFDPMFDDJØOZDPOTVNPEF)4$
QFSPMBJOGPSNBDJØOFTFTDBTB)BZJNQPSUBOUFFYQPSUBDJPOFTEFNBUTVUBLFTB+BQØO
XXXGJOUSBDDPN
4*/("163
*NQPSUBOUFJNQPSUBEPSZDPOTVNJEPSEFIPOHPTTJMWFTUSFTBVORVFMBNBZPSQBSUFTF
TVQPOFTPOFTQFDJFTDVMUJWBEBT+POFTZ-JN
4FHVSBNFOUFFYJTUFVOBGVFSUF
JOGMVFODJBEFMBUSBEJDJØODVMUVSBMDIJOB
43*-"/,"
)BZSFDPMFDDJPOFTMPDBMFTQFSPTØMPTFIBFODPOUSBEPJOGPSNBDJØOMJNJUBEB
(VOBUJMMFLF(VOBUJMMFLFZ"CFZHVOBXBSEFOB
4FSFQSPEVDFOMPTIPOHPT
5FSNJUPNZDFZQSPCBCMFNFOUFTPODPOTVNJEPT1FHMFSZ7BOIBFDLF
5"*-"/%*"
)BZVOBUSBEJDJØOJNQPSUBOUFEFSFDPMFDDJØOWFOUBZDPOTVNPQFSPTFIB
FODPOUSBEPTØMPVOJOGPSNFEFUBMMBEP+POFT8IBMMFZZ)ZXFM+POFT
5"*8«/1SPWJODJB
EF$IJOB
5SBEJDJPOFTBOÈMPHBTBMBTEFMB$IJOBDPOUJOFOUBMBVORVFMBJOGPSNBDJØOOPIBTJEP
SFVOJEBBDUJWBNFOUF(SBOEFTUSBEJDJPOFTEFJOWFTUJHBDJØONJDPMØHJDBEFMPTIPOHPT
TVQFSJPSFTWFB$IFO
563,.&/*45«/
)BFYQPSUBEPiTFUBTwB"MFNBOJBDPOUPEBTFHVSJEBEFTQFDJFTTJMWFTUSFTDPNFTUJCMFT
XXXGJOUSBDDPN
56326¶"
)BZVOBJOEVTUSJBEFFYQPSUBDJØOB&VSPQBGVFSUFQFSPUBMWF[SFMBUJWBNFOUF
QFRVF×BCBTBEBGVOEBNFOUBMNFOUFFOMBSFDPMFDDJØOEFMPT)4$(VSFS
DPNVOJDBDJØOQFSTPOBM6OQVCMJTIFEUSBEFEBUBPOXJMEFEJCMFGVOHJJO5VSLFZ
-PT
JOGPSNFTNJDPMØHJDPTTVHJFSFOVOBNQMJPVTPZSFMFWBODJBQFK"GZPO,BTJLZ
0[UVSL
7FBUBNCJÏOXXXPHNHPWUSZ4BCSBZ8BMUFS
7*&5/".
)BZDMBSBTIVFMMBTEFVOBNQMJPVTPMPDBMZEFMBSFDPMFDDJØOFOMBTUJFSSBTBMUBT
$IBNCFSMBJODPNVOJDBDJØOQFSTPOBM8JMEFEJCMFGVOHJJO7JFU/BN
QFSPIB
TJEPFTDBTBNFOUFEPDVNFOUBEB-BTJOWFTUJHBDJPOFTTPCSFMPT1'/.GSFDVFOUFNFOUF
NFODJPOBOBMPT)4$QFK3JKTPPSUZ1JLVO
&MIPOHPEFMBDÈTDBSBEFBSSP[
TQQ7PMWBSJFMMB
TFSFQSPEVDFOBUVSBMNFOUFFOMBTUJFSSBTCBKBTEPOEFTFDVMUJWB
UBNCJÏO0USBTFTQFDJFTDVMUJWBEBTUBMFTDPNPMBTTIJJUBLFTZMPTiIPOHPTPSFKBw
TQ"VSJDVMBSJB
TFWFOEFOGSFTDBTPTFDBEBTFOMPTNFSDBEPTEFMBDJVEBEEF)P$IJ
.JOI
"OFYP4VNBSJPEFMBJNQPSUBODJBEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTQPSSFHJÓOZQBÎT
&VSPQB
-PTNBDSPIPOHPTEF&VSPQBBTÎDPNPEFGJOJEPTQPSMBTGSPOUFSBTBDUVBMFTEFMB6OJÓO
&VSPQFBZQBÎTFTDPOUJHVPTTPONVZDPOPDJEPTZEFTDSJUPT'JOMBOEJBUJFOFMBMJUFSBUVSB
NÃTDPNQMFUBTPCSFMBSFDPMFDDJÓOZFMVTPEFMPTIPOHPTDPNFTUJCMFTZIBQVFTUPVOB
BUFODJÓOQBSUJDVMBSFOTVJNQPSUBODJBQBSBMBQPCMBDJÓO
/P GVF FODPOUSBEB JOGPSNBDJÓO TPCSF MPT IPOHPT DPNFTUJCMFT FO -JFDIUFOTUFJO
.BMUBF*TMBOEJB
-PTQBÎTFTTFSFÙOFOFOEPTHSBOEFTHSVQPTFMQSJNFSPDPOMBTOBDJPOFTEFFDPOPNÎBT
EÊCJMFTHFOFSBMNFOUFDPOVOBUSBEJDJÓOMPDBMJNQPSUBOUFEFVTPEF)4$BMHVOBTEFMBT
DVBMFTUBNCJÊOUJFOFODPNFSDJPTEFFYQPSUBDJÓO&MTFHVOEPMPTQBÎTFTNÃTSJDPTRVF
JNQPSUBO QFSP QPESÎBO OP UFOFS VOB GVFSUF USBEJDJÓO EF SFDPMFDDJÓO 3VNBOJB FT VO
FKFNQMPEFMQSJNFSHSVQPZMPT1BÎTFT#BKPTEFMTFHVOEPNBZPSFYQPSUBEPSNVOEJBM
EFDIBNQJÒPOFT"HBSJDVTCJTQPSVT
ZUFSDFSFYQPSUBEPSEFTQVÊTEF$IJOBZ&TUBEPT
6OJEPTEFUPEBTMBTFTQFDJFTDVMUJWBEBT
-BTVQSFTJÓOEFMBTCBSSFSBTFDPOÓNJDBTZQPMÎUJDBTFOMPTBÒPTOPWFOUBIBFTUJNVMBEP
MBTFYQPSUBDJPOFTEFMPTQBÎTFTEFMBFY6OJÓO4PWJÊUJDBEFMBSFHJÓOEFMPT#BMDBOFT
ZEFFY:VHPTMBWJBFTQFDÎGJDBNFOUF1FSJOJ
&OMPTQBÎTFTNÃTSJDPTEF&VSPQB
MBSFDPMFDDJÓOEFMPT)4$TFEBQSJODJQBMNFOUFFOQFRVFÒBFTDBMBZQBSBVTPQFSTPOBM
Z FT EF NFOPS JNQPSUBODJB FDPOÓNJDB QBSB MPT SFDPMFDUPSFT BVORVF IBZ VO JOUFSÊT
JOEJWJEVBMDSFDJFOUFFOMBSFDPMFDDJÓOEFUSVGBTZCPMFUPTFO*UBMJB;BNCPOFMMJ
DPNVOJDBDJÓOQFSTPOBM5SVGGMFTBOEDPMMFDUJOHQPSDJOJJO*UBMZ
7ÊBTFMBT*MVTUSBDJPOFT
Z
1BSB MBT WFSTJPOFT TPCSF MPT )4$ SFDPMFDUBEPT FO MPT CPTRVFT CPSFBMFT GSÎPT Z
UFNQMBEPTWÊBTF-VOE1BKBSJZ,PSIPOFO
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
"-#"/*"
)BFYQPSUBEPDBOUJEBEFTMJNJUBEBTEFIPOHPTDPNFTUJCMFTB*UBMJBQSPCBCMFNFOUF
#PMFUVTFEVMJT#PSHIJDPNVOJDBDJØOQFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBM
XJMEFEJCMFGVOHJJO*UBMZ
ZQPDPTPUSPTUJQPTQFSPOPFYJTUFVODPNFSDJPSFHVMBS
#*&-03364*"
4FEFTDSJCFOCSFWFNFOUFMBTFTQFDJFTTJMWFTUSFTDPNFTUJCMFT.BMZJ
QFSPTJO
EFUBMMFTEFMBTQSÈDUJDBTMPDBMFT5BNCJÏOFYQPSUBFTQFDJFTTJMWFTUSFTFOQFRVF×BT
DBOUJEBEFTB*UBMJB#PSHIJDPNVOJDBDJØOQFSTPOBM1PSDJOJBOEPUIFS
DPNNFSDJBMXJMEFEJCMFGVOHJJO*UBMZ
ZPUSPTQBÓTFTOPFTQFDJGJDBEPT0MMJLBJOFO
#04/*":)&3;&(07*/"
&YQPSUBOiTFUBTwJODMVZFOEP#PMFUVTFEVMJTB*UBMJB#PSHIJDPNVOJDBDJØO
QFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBMXJMEFEJCMFGVOHJJO*UBMZ
/PIFNPT
FODPOUSBEPPUSBJOGPSNBDJØOPJOGPSNFT
#6-("3*"
1SJODJQBMFTFYQPSUBEPSFTEFiTFUBTTJMWFTUSFTw-BTFTQFDJFTDPNFTUJCMFTZWFOFOPTBT
IBOTJEPEFTDSJUBTFOMBMJUFSBUVSBNJDPMØHJDB*PSEBOPW7BOFWZ'BLJSPWB
BVORVFOPTFDPOPDFOCJFOMBTUSBEJDJPOFTMPDBMFT
$30"$*"
&YQPSUBEPSQFSPFTUBTBDUJWJEBEFTGVFSPOEFUFSJPSBEBTQPSMBTMVDIBTJOUFTUJOBT-PT
EFUBMMFTFYBDUPTOPTPODMBSPTQFSPWFBMPTDPNFOUBSJPTTPCSF4FSCJBZ.POUFOFHSP
&4-07"26*"
*OGPSNFTOPDPOGJSNBEPTEFBNQMJBTSFDPMFDDJPOFTBOÈMPHBTBMBTUSBEJDJPOFTEFMPT
QBÓTFTGSPOUFSJ[PTQPSFKFNQMP1PMPOJB
&4-07&/*"
4POFYQPSUBEBTDBOUJEBEFTNPEFSBEBTJODMVZFOEP#PMFUVTFEVMJTB*UBMJB5JFOFVOB
USBEJDJØOMPDBMSFOPNCSBEBBVORVFOPGVFSUFXXXNBULVSKBDPN
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
&41"º":"/%033"
$MBSBNFOUFEJGFSFOUFTUSBEJDJPOFTEFVTPMPDBMDPOMBTUSBEJDJPOFTNÈTGVFSUFT
EFMPTBNBOUFTEFMPTIPOHPTDBUBMBOFTZWBTDPT4VJOUFSÏTNVFWFNVDIPEFM
DPNFSDJPJOUFSOBDJPOBMEF)4$&YJTUFVODPNFSDJPJNQPSUBOUFEFOÓTDBMPT
-BDUBSJVTEFMJDJPTVT
EFMOPSPFTUFEF&TQB×B$BTUJMMBZ-FØO
IBTUB$BUBMV×B
NJFOUSBTMBTUSVGBTTPOEFJNQPSUBODJBDSFDJFOUFQBSBMBTQPCMBDJPOFTMPDBMFTEF
MPT1JSJOFPTEF3PNÈODPNVOJDBDJØOQFSTPOBM5SBEFJOOÓTDBMPTGSPN/PSUI
4QBJOUP$BUBMPOJBBOEUSVGGMFQSPEVDUJPO
1BSBVOBWFSTJØOFYIBVTUJWBEFMPT
)4$WFB.BSUÓOF[0SJBEF3VFEBZ.BSUÓOF[
-PTDPNFSDJBOUFTFTQB×PMFT
WJTJUBO1PSUVHBMQBSBMBTBDUJWJEBEFTDPNFSDJBMFTNJFOUSBTMPTSFDPMFDUPSFTGSBODFTFT
WJTJUBO&TQB×BFOCVTDBEFUSVGBT7FBUBNCJÏOFO8BTTPOZ8BTTPO
MB
JOGPSNBDJØOIJTUØSJDBTPCSFMBTUSBEJDJPOFTMPDBMFT
&450/*"
4FTBCFRVFUJFOFVOBGVFSUFUSBEJDJØOMPDBMEFVTPFJOWFTUJHBDJØOTPCSFMPT
)4$,BMBNFFTZ4JMWFS
-PTEBUPTTPCSFMBQSPEVDDJØOJOEJDBORVFFTVO
FYQPSUBEPSNFOPS1BBMZ4BBTUBNPJOFO
BMNFOPTEFTEFIBTUB
XXXGJOUSBDUPSH
'&%&3"$*»/%&364*"
&YJTUFVOBUSBEJDJØOGVFSUFZQSPMPOHBEBEFSFDPMFDDJØOZDPOTVNPEF)4$8BTTPO
Z8BTTPO
&TEJGÓDJMFODPOUSBSMPTEFUBMMFTQSFDJTPTEFMVTPBDUVBMBVORVF
FYJTUFVOBJNQSFTJPOBOUFMJUFSBUVSBNJDPMØHJDBFIJTUPSJBEFJOWFTUJHBDJØOEFMBT
EJGFSFOUFTFTQFDJFTQFK%VELBZ8BTTFS7BTJMFWB8BTTFS
&TFM
TFHVOEPQBÓTPSFHJØOFOJNQPSUBODJBQBSBMPT)4$EFTQVÏTEF$IJOBFOUÏSNJOPT
EFDBOUJEBEFTSFDPMFDUBEBTOPBTÓFOWBMPSFTEFFYQPSUBDJPOFTBVORVFTFEFO
EFTEFIBDFNVDIPTB×PT1BBM
&YJTUFVOBDJFSUBJOUSFQJEF[FOMBSFDPMFDDJØO
EFIPOHPTDPNPJOEJDBEPQPSMPTGSFDVFOUFTFOWFOFOBNJFOUPTFJODMVTPNVFSUFT
$IJCJTPWZ%FNJEPWB&WBOT
)BTJEPFYQSFTBEBQSFPDVQBDJØO
TPCSFMBTFYQPSUBDJPOFTEFTFOGSFOBEBTEFiDFOUFOBSFTEFUPOFMBEBTwDPO4BO
1FUFSTCVSHPBMBWBOHVBSEJB
'*/-"/%*"
-BTUSBEJDJPOFTDBNCJBOEFTEFFMPSJFOUFNJDPGÓMJDPJOGMVJEPQPSTVQSPYJNJEBE
DPOMB'FEFSBDJØO3VTBBMNFOPTFOUVTJBTUBPDDJEFOUFRVFUPNBTVJOGMVFODJBEF
4VFDJB)ÊSLÚOFO
)BIBCJEPVOGPNFOUPHFOFSBMQBSBMBSFDPMFDDJØOEF
IPOHPTTJMWFTUSFTEFTEFMBTFHVOEBHVFSSBNVOEJBMZVOTJOOÞNFSPEFEFCBUFT
FJOWFTUJHBDJPOFTTPCSFFMJOWFOUBSJPZFTUVEJPTEFMSFOEJNJFOUPBMBSHPQMB[P
3BVUBWBBSB,PJTUJOFO
BDDFTPBMBTUJFSSBT4BBTUBNPJOFO
QFSJUPTNJDPMØHJDPTMPDBMFT.JMEI)ÊSLÚOFO
(3&$*"
$PNÞONFOUFSFDPMFDUBEPTEFMPTCPTRVFTZDPOTVNJEPTFOMBTÈSFBTSVSBMFT
%JBNBOEJT
1PDPTTPOWFOEJEPTFOMPTNFSDBEPTEFMPTBHSJDVMUPSFT
BVORVFIBIBCJEPVOJODSFNFOUPFOMBSFDPMFDDJØODPNFSDJBMRVFFTUÈDBVTBOEP
QFSQMFKJEBEFT%JBNBOEJT
)BOTJEPDPOTVNJEPTEFTEFUJFNQPTBOUJHVPT
)FUUVMB
)6/(3¶"
$PNFSDJPEFFYQPSUBDJØOZUJFOFVOBUSBEJDJØOMPDBMEFSFDPMFDDJØOZDPOTVNP
QFSPQPDPTEFUBMMFTEJTQPOJCMFTBQBSUFEFMBTMJTUBTEFMBTFTQFDJFT(SVOFSUZ
(SVOFSU
*5"-*"
*NQPSUBDJPOFTQSFQPOEFSBOUFTEF#PMFUVTFEVMJTCPMFUPT
EFVOBHSBODBOUJEBE
EFQBÓTFTFYUFOEJÏOEPTFIBTUB$IJOBNÈTEFMEFMBTJNQPSUBDJPOFTTFHÞO
#PSHIJDPNVOJDBDJØOQFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBMXJMEFEJCMF
GVOHJJO*UBMZ
Z4VEÈGSJDB#VTRVFFO)BMMFUBMC
JOGPSNBDJØOHFOFSBM
TPCSFMPTCPMFUPT3FDJFOUFNFOUFVO5VCFSJOGFSJPSEF$IJOBIBTJEPJNQPSUBEP
)BMM;BNCPOFMMJZ1SJNBWFSBB;BOHZ1V
7JTVBMJDFFO#VMMFS
MBTQFSTQFDUJWBTIJTUØSJDBT&OFMQBTBEPMBSFDPMFDDJØOEF)4$FSBJNQPSUBOUF
QBSBMPTTJTUFNBTEFWJEBZEFTBSSPMMPEFNVDIBTQPCMBDJPOFTEFMBTSFHJPOFT
EFMOPSUF.JFOUSBTUPEBWÓBIBZVOGVFSUFJOUFSÏTFOMBSFDPMFDDJØOZDPOTVNP
QBSUJDVMBSNFOUFEFCPMFUPTZUSVGBTIBEFDMJOBEPTVJNQPSUBODJBFDPOØNJDBQBSB
MBTQPCMBDJPOFTMPDBMFT4JOFNCBSHPFYJTUFVOHSBOJOUFSÏTDPNFSDJBMFOBNCPT
HSVQPTEFIPOHPTDPOEFNBOEBTRVFTPCSFQBTBOFMTVNJOJTUSPMPDBM#PSHIJ
DPNVOJDBDJØOQFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBMXJMEFEJCMFGVOHJJO*UBMZ
*UBMJBUJFOFVOBJNQSFTJPOBOUFUSBEJDJØONJDPMØHJDBQFSPIBZVOBFTDBTF[FOMB
JOGPSNBDJØOTPCSFMBTUSBEJDJPOFTMPDBMFTZMPTVTPTEF)4$QPSQBSUFEFMBTHFOUFT
-&50/*"
&YQPSUBDJPOFTSFMBUJWBNFOUFNFOPSFTBMNFOPTEFTEFIBTUB
XXXGJOUSBDDPN
5JFOFUSBEJDJPOFTEFVTPMPDBMBOÈMPHBTBMBTEF&TUPOJBZ
-JUVBOJB7JMLSJTUF
1BSBMBMJTUBTFMFDDJPOBEBEFMBTFTQFDJFTDPNFTUJCMFT
DPOTVMUF6SCPOBT,BMBNFFTZ-VLJO
-*56"/*"
1SJODJQBMFTFYQPSUBEPSFTIBDJB"MFNBOJBFOFMQFSÓPEPEFTEFIBTUB
QFSPFODBOUJEBEFTWBSJBCMFTXXXGJOUSBDDPN
6OBTFTQFDJFTDPNFTUJCMFT
GVFSPOFOVNFSBEBTQPS#VULVTFUBM
6MUFSJPSJOGPSNBDJØOFTEJTQPOJCMFFO
3VULBVTLBT
"OFYP4VNBSJPEFMBJNQPSUBODJBEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTQPSSFHJÓOZQBÎT
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
."$&%0/*"<FY
3FQÞCMJDBEF
:VHPTMBWJB>
&YQPSUBEPSFTSFHVMBSFTEFIPOHPTB*UBMJBJODMVZFOEPEF#PMFUVTFEVMJT#PSHIJ
DPNVOJDBDJØOQFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBMXJMEFEJCMFGVOHJJO
*UBMZ
ZDPOVOBGVFSUFUSBEJDJØOTVHFSJEBEFVTPMPDBM#BVFS1FUSPWTLBFUBM
10-0/*"
"MBDBCF[BEFMBTFYQPSUBDJPOFTEFiTFUBTwFO&VSPQBVOBEFTVTNBZPSFTGVFOUFT
EFJOHSFTPT4FEJDFRVFTPOQJPOFSPTFOMBQSPUFDDJØOEFMPT)4$DPOMBTMFZFT
BQSPCBEBTFO-BXSZOPXJD[
5BNCJÏOUJFOFVOBGVFSUFUSBEJDJØOMPDBM
FOMBTSFHJPOFTNÈTQPCSFT4OPXBSTLJDPNVOJDBDJØOQFSTPOBM8JMEFEJCMF
GVOHJJO1PMBOE
1BSBJOGPSNBDJØOHFOFSBMDPOTVMUFFMTJUJPXFCXXXHS[ZCZQMZ
,BMJOPXTLJ
3&1Á#-*$"$)&$"
&YQPSUBEPSNFOPSBMBWFDJOB"MFNBOJBQPTJCMFNFOUFSFDPMFDUBEPTFOTVIÈCJUBU
OBUVSBM-BSFDPMFDDJØOZFMDPOTVNPMPDBMGVFSPOSFHMBNFOUBEPTIBDFUJFNQP
1JMÈU
ZQBSFDFOTFSQSJODJQBMNFOUFQBSBFMDPOTVNPJOUFSOP4JTBL
3&1Á#-*$"%&.0-%07"
&YQPSUBDJPOFTNFOPSFTEF#PMFUVTFEVMJTB*UBMJB#PSHIJDPNVOJDBDJØO
QFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBMXJMEFEJCMFGVOHJJO*UBMZ
1BSFDFUFOFSVOB
USBEJDJØOEFSFDPMFDDJØOZVTPBOÈMPHBBMBEFMB'FEFSBDJØO3VTB
36."/*"
.BZPSFYQPSUBEPSEF)4$1PQ
DPOFOWÓPTSFHVMBSFTEF#PMFUVTFEVMJTB
*UBMJB#PSHIJDPNVOJDBDJØOQFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBMXJME
FEJCMFGVOHJJO*UBMZ
4&3#*":.0/5&/&(30
<&Y3FQÞCMJDBEF
:VHPTMBWJB>
-BTFYQPSUBDJPOFTEF#PMFUVTFEVMJTIBDJB*UBMJBFNQF[BSPOFOMPTB×PTTFUFOUB
#PSHIJDPNVOJDBDJØOQFSTPOBM1PSDJOJBOEPUIFSDPNNFSDJBMXJMEFEJCMF
GVOHJJO*UBMZ
ZEFTEFFOUPODFTIBTJEPSFHVMBSFT-BTFYQPSUBDJPOFTEF#FEVMJTZ
PUSBTFTQFDJFTDSFDJFSPODPOTJEFSBCMFNFOUFFOMPTB×PTOPWFOUBDPOJODSFNFOUPT
JNQPSUBOUFTFOFMOÞNFSPEFQFSTPOBTRVFTFHBOBOMBWJEBEFFTUBTBDUJWJEBEFT
DPNFSDJBMFT*WBODFWJD
1FSPQPSFMDPOUSBSJPIBZEÏCJMFTUSBEJDJPOFTEFVTPT
MPDBMFT;BLMJOB
6$3"/*"
1PTFFJNQPSUBOUFTSFDVSTPTRVFFTUÈOBMUBNFOUFWBMPSJ[BEPTQPSMBQPCMBDJØOMPDBM
;FSPWBZ8BTTFS;IBOH
)BIBCJEPNVDIBTQSFPDVQBDJPOFTQPSMB
DPOUBNJOBDJØOEFNBUFSJBMFTSBEJPBDUJWPTEFTQVÏTEFMBDDJEFOUFEF$IFSOØCJM
QFSPFTUBTJUVBDJØOIBTJEPFOTPNCSFDJEBQPSFMDSÓUJDPJODSFNFOUPEFNVFSUFT
QSPEVDJEPQPSFMDPOTVNPEFMBTFTQFDJFTWFOFOPTBT7BDIVTLBZ7BDIVTLB
BDPOUFDJNJFOUPTSFMBDJPOBEPTDPOVOBFDPOPNÓBEÏCJMZDPOVOBEFTFTQFSBEB
CÞTRVFEBEFBMJNFOUPT"MNPOE
-BT SFDPMFDDJPOFT FO MPT TJHVJFOUFT QBÎTFT TPO FTFODJBMNFOUF QBSB VTPT PDBTJPOBMFT
JOEJWJEVBMFT-PTDPNFOUBSJPTHFOFSBMFTTFSFGJFSFOBMBTFYQPSUBDJPOFTFJNQPSUBDJPOFT
EFQFOEJFOEPEFMBEJTQPOJCJMJEBEEFJOGPSNBDJÓO
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
"-&."/*"
1SJODJQBMFTJNQPSUBEPSFTEF)4$QPSFKFNQMPEF$BOUIBSFMMVT
#²-(*$":-69&.#63(0
&YQPSUBDJPOFTEFBMHVOBTFTQFDJFTQFSPDPOEFUBMMFTFTDBTPT-PTDJFOUÓGJDPTIBO
TVNJOJTUSBEPNBZPSFTDPOUSJCVDJPOFTBMBNJDPMPHÓBBGSJDBOB3BNNFMPP
%*/"."3$"
4PMBNFOUFSFDPMFDDJPOFTMPDBMFTQPDPGSFDVFOUFTZFOQFRVF×BFTDBMB1MVN
'3"/$*"
1SJODJQBMJNQPSUBEPSZFYQPSUBEPSBWFDFTEFUFSDFSPTQBÓTFTFOUSFFMMPT1PSUVHBM
Z&TQB×B"OUFTFYQPSUBCBHSBOEFTDBOUJEBEFTEFUSVGBTB*UBMJB
"JOTXPSUI
)BZVOBGVFSUFUSBEJDJØOEFSFDPMFDDJØOZDPOTVNPEF)4$FOFMTVSQFK
(BTDPOZ1SPWFO[B
QFSPOPIFNPTFODPOUSBEPJOGPSNBDJØOQVCMJDBEBTPCSFMBT
USBEJDJPOFTMPDBMFT
*3-"/%"
6OPEFMPTQSJODJQBMFTFYQPSUBEPSFTBM3FJOP6OJEPQFSPGVOEBNFOUBMNFOUF
{TØMP FTQFDJFTDVMUJWBEBTXXXGJOUSBDDPN
/036&("
&TQFDJFTDPNFTUJCMFTDPNVOFTUBMFTDPNPMPT$BOUIBSFMMVTZMPT#PMFUVTTF
SFDPMFDUBOQBSBDPOTVNPQFSTPOBM
1"¶4&4#"+04
-ÓEFSFTFVSPQFPTFOMBFYQPSUBDJØOEFIPOHPTQSJODJQBMNFOUFEFMBTFTQFDJFT
DVMUJWBEBT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
10356("-
-BTUSBEJDJPOFTMPDBMFTTPOEÏCJMFT.BSUJOTFUBM
MPRVFIBTJEPFYQMPUBEP
QPSMPTDPNFSDJBOUFTFTQB×PMFTZGSBODFTFTRVFIBODSFBEPVOBiBDUJWJEBE
DPNFSDJBMGMPSFDJFOUFZTJODPOUSPMw#BQUJTUB'FSSFJSB
DFOUFOBSFTEF
UPOFMBEBTEF#PMFUVTFEVMJTZFTQFDJFTSFMBDJPOBEBTFYQPSUBEBT
3&*/06/*%0
1SJODJQBMFTJNQPSUBEPSFTEFIPOHPTGVOEBNFOUBMNFOUFEF*SMBOEBWFB
XXXGJOUSBDPN
)BJOJDJBEPVOBDPNFSDJBMJ[BDJØOFOQFRVF×BFTDBMBEF)4$Z
FYJTUFOFTUVEJPTÞUJMFTTPCSFMPTSFDPMFDUPSFTZFMDPNFSDJPFOEFTBSSPMMP%ZLFZ
/FXUPO
)BZQSFPDVQBDJPOFTQPSMBTPCSFFYQMPUBDJØOZMPTEB×PTDBVTBEPT
QPSMPTSFDPMFDUPSFTIBOMMFWBEPBMBJOUSPEVDDJØOEFMFZFTMPDBMFTFONVDIPTTJUJPT
FOFMTVSEFMQBÓTQFKFO/FX'PSFTU&QQJOH'PSFTU
46&$*"
$BOUIBSFMMVTZPUSBTFTQFDJFTDPNVOFTDPNFTUJCMFTTFWFOEFOQFSPOPFYJTUFVOB
GVFSUFUSBEJDJØOEFSFDPMFDDJØO)BZVOJOUFSÏTDSFDJFOUFFOMBDVMUJWBDJØOEF
USVGBT
46*;"
)BZVOBDPNQFUFODJBJOUFOTBFOUSFMPTSFDPMFDUPSFTQPSMPTSFDVSTPTMPDBMFTWFB
&HMJ"ZFSZ$IBUFMBJO
4FFODVFOUSBJOGPSNBDJØOTPCSFMBTJNQPSUBDJPOFTEF
)4$FO8JMMTZ-JQTFZ
"OFYP4VNBSJPEFMBJNQPSUBODJBEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTQPSSFHJÓOZQBÎT
"NÏSJDBEFM/PSUFZ$FOUSBM
JODMVJEBMBSFHJØOEFM$BSJCF
7ÊBTF MB *MVTUSBDJÓO /P IFNPT FODPOUSBEP JOGPSNBDJÓO TPCSF MPT )4$ Z PUSBT
FTQFDJFTÙUJMFTFOMPTTJHVJFOUFQBÎTFT
"OUJHVBZ#BSCVEB"OUJMMBT/FFSMBOEFTBT#BIBNBT#BSCBEPT#FMJDF#FSNVEB
*TMBT7ÎSHFOFT#SJUÃOJDBT*TMBT$BJNÃO%PNJOJDB3FQÙCMJDB%PNJOJDBOB(SBOBEB
(VBEBMVQF.BSUJOJDB.POUTFSSBU/JDBSBHVB1BOBNÃ1VFSUP3JDP4BJOU,JUUTZ
/FWJT4BOUB-VDÎB4BO1FESPZ.JHVFMÓO4BO7JDFOUFZMBT(FSBMEJOBT5SJOJEBEZ
5BCBHP*TMBT7ÎSHFOFT&&66
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
$"/"%«
&YQPSUBDJPOFTB+BQØOZB&VSPQB.VDIBTQVCMJDBDJPOFTEFTDSJCFOMBFYQBOTJØO
FOMBSFDPMFDDJØOZFMDPNFSDJPEF)4$QSJODJQBMNFOUFEF$PMPNCJB#SJUÈOJDB
FMi1BDÓGJDPOPSPFTUFw
WFB3FEIFBE5FEEFS.JUDIFMMZ'BSSBO
"MHVOBTQVCMJDBDJPOFTFTUBEPVOJEFOTFTJODMVZFOB$BOBEÈFOTVTEFCBUFT1JM[Z
.PMJOB
"OUFSJPSNFOUFMBTQPCMBDJPOFTEFFTUBOBDJØOIBCÓBOSFDPMFDUBEP
ZVTBEPMPT)4$EVSBOUFNVDIPTB×PT.BSMFTFUBM
$045"3*$"
&TUVEJPTBWBO[BEPTTPCSFMBEJWFSTJEBEEFNBDSPNJDFUPTBVORVFTJOOJOHÞO
ÏOGBTJTDMBSPTPCSFMBTFTQFDJFTDPNFTUJCMFT.BUB)JEBMHP
-BTMJTUBTEFMBT
FTQFDJFTDPNFTUJCMFTZWFOFOPTBT4ÈFO[-J[BOPZ/BTTBS
DPOGJSNBOVOB
EÏCJMUSBEJDJØOMPDBM
$6#"
1PDBPJOFYJTUFOUFUSBEJDJØOEFVTPEFMPT)4$.JOUFSDPNVOJDBDJØO
QFSTPOBM&EJCMFGVOHJJO$IJMF$VCBBOE"SHFOUJOB
&-4"-7"%03
&YQPSUBDJPOFTIBDJB"MFNBOJBQFSPJSSFHVMBSFTZFOQFRVF×BFTDBMB-B
BHSJDVMUVSBJOUFOTJWBZMBEFGPSFTUBDJØOTVHJFSFOQPDBTSFDPMFDDJPOFTBVORVFTF
PCTFSWBVOBGVFSUFUSBEJDJØOFOMBTSFHJPOFTGSPOUFSJ[BTDPO(VBUFNBMB
&45"%046/*%04%&
".²3*$"
4POMPTNBZPSFTFYQPSUBEPSFTEFNBUTVUBLFTB+BQØOQFSPTPOUBNCJÏOVO
JNQPSUBOUFJNQPSUBEPSEFVOBHSBODBOUJEBEEFQBÓTFT5JFOFVOBSJRVÓTJNB
MJUFSBUVSBZUSBEJDJØOTPCSFMBTDJFODJBTNJDPMØHJDBTZTPOFMBMNBNBUFSEF
MBFUOPNJDPMPHÓBWFB4DIVMUFT3JFEMJOHFS
-BTUSBEJDJPOFTEFTV
VTPMPDBMZSFDPMFDDJØOTPONFOPSFTEFMPRVFTVHJFSFOMPTFOPSNFTDÈOPOFT
DJFOUÓGJDPT&TUBSFBMJEBEEFCFNVDIPBMBGPSNBDJØODVMUVSBMEFMPTJONJHSBOUFT
QSPWFOJFOUFTEF&VSPQBZ+BQØOTFTBCFNFOPTTPCSFMBJOGMVFODJBEFMPT
JONJHSBOUFTDIJOPTWFBUBNCJÏOMPTEBUPTEF)BJUÓ
4JOFNCBSHPIBZWFSTJPOFT
JNQPSUBOUFTEFMPTOBUJWPTBNFSJDBOPTQFK,FFXBZEJOPRVBZ
6OJOUFSÏTNVDIPNÈTSFDJFOUFTFIBDFOUSBEPFOMBTSFDPMFDDJPOFTQBSBMB
FYQPSUBDJØOZMBHSBOFYQBOTJØOTVCTJHVJFOUFEFMBTBDUJWJEBEFTDPNFSDJBMFTRVF
HJSBOBMSFEFEPSEFM1BDÓGJDPOPSPFTUF&TUFDPNFSDJPIBTJEPFTUJNVMBEPQPSVO
EFDMJOPFOMPTUSBCBKPTEFMCPTRVFZFOMBEFNBOEBEFNBUTVUBLFTEFQBSUFEF
+BQØO)BZVOBFOPSNFMJUFSBUVSBBMSFTQFDUPWFBVOSFTVNFOJOUFHSBMFO1JM[Z
.PMJOB
(6"5&."-"
'VFSUFTUSBEJDJPOFTFOMBTUJFSSBTBMUBTEFMPFTUF'MPSFTDPNVOJDBDJØO
QFSTPOBM(VBUFNBMBFEJCMFGVOHJ'MPSFT#SBOZ)POSVCJBEF-FØO
6OBWFSTJØOEFMPTFOWFOFOBNJFOUPT-PHFNBOOFUBM
TVHJFSF
VOBJNQPSUBODJBBNQMJBEFMPT)4$BVORVFQSJODJQBMNFOUFFOMBTNPOUB×BTEF
OVFWP-BTFTQFDJFTMPDBMFTDPNFTUJCMFTIBOTJEPEPDVNFOUBEBT4PNNFSLBNQZ
(V[NÈO
ZIBZJOGPSNFTIJTUØSJDPTEFTVFYJTUFODJBZVTPQFK-PXZ
)"*5¶
-PTFYQBUSJBEPTIBJUJBOPTDPNQSBOSFHVMBSNFOUF%KPOEKPOH1TBUIZSFMMB
/JFWFT3JWFSB
RVFTFDVMUJWBTPMBNFOUFFO)BJUÓ:FUUFS
DPNVOJDBDJØOQFSTPOBM&EJCMFGVOHJGSPN)BJUJGPSTBMFJO#SPPLMZOMJOLUP
FBUJOH1TBUIZSFMMBJO"GSJDB
ZFYQPSUBEPTBUPEPFMNVOEP-PTEFUBMMFTMPDBMFT
EFQSPEVDDJØOTPONVZTVQFSGJDJBMFT1PDBTPUSBTFTQFDJFTTJMWFTUSFTDPNFTUJCMFT
TFSFDPMFDUBOZTFQVFEFFODPOUSBSJOGPSNBDJØOFO"MQIPOTFBVORVFDPO
QPDPTEFUBMMFT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
)0/%63"4
«SFBTFYUFOTBTEFCPTRVFTOBUVSBMFTEFQJOPTPOBTPDJBEBTDPOMPT)4$)BZVOB
USBEJDJØOBMOPSUFDFSDBEFMBTGSPOUFSBTDPO(VBUFNBMBEPOEFUSFTPDVBUSP
FTQFDJFTTFWFOEFOFOMPTNFSDBEPTMPDBMFT)PVTFDPNVOJDBDJØOQFSTPOBM
8JMEFEJCMFGVOHJJO)POEVSBT
+"."*$"
&YQPSUBDJPOFTNFOPSFTFJSSFHVMBSFTEFiTFUBTwIBDJB"MFNBOJB
XXXGJOUSBDDPN
QFSPMPTEFUBMMFTTPONVZFTDBTPT/PFYJTUFVOBUSBEJDJØO
PCWJBEF)4$FOFM$BSJCFBFYDFQDJØOEF)BJUÓ
.²9*$0
6OPEFMPTQBÓTFTNÈTJNQPSUBOUFTQPSFMVTPFJNQPSUBODJBEFMBSFDPMFDDJØO
QBSBMBTQPCMBDJPOFTSVSBMFT&TJOVTVBMFMTFOUJEPFOFMRVFIBTJEPEFTDSJUP
QPSMPTDJFOUÓGJDPTMPDBMFTWFBFO7JMMBSSFBMZ1ÏSF[.PSFOP
VOSFTVNFO
JOUFSFTBOUF
6OCVFOBDDFTPFOMÓOFBBEBUPTJNQPSUBOUFTFO4&3."/"5
&YQPSUBDJPOFTFOQFRVF×BFTDBMBEFMBTFTQFDJFTTFMFDDJPOBEBT-PTIPOHPT
TJMWFTUSFTUJFOFOUBNCJÏOVOQBQFMDVMUVSBMJNQPSUBOUF3JFEMJOHFS
)BZ
WJHPSPTPTDVFSQPTEFJOWFTUJHBEPSFTRVFUSBCBKBODPOMPT)4$ZQVCMJDBDJPOFT
SFHVMBSFTRVFFTUÈODFOUSBOEPEFOVFWPMBBUFODJØOFOBTQFDUPTTPDJBMFTZ
FDPOØNJDPTJNQPSUBOUFT
"OFYP4VNBSJPEFMBJNQPSUBODJBEFMPTIPOHPTTJMWFTUSFTDPNFTUJCMFTQPSSFHJÓOZQBÎT
0DFBOÓB
/P IFNPT FODPOUSBEP JOGPSNBDJÓO TPCSF MPT )4$ Z PUSBT FTQFDJFT ÙUJMFT FO MPT
TJHVJFOUFQBÎTFT
*TMBT$PPL1PMJOFTJB'SBODFTB(VBN,JSJCBUJ*TMBT.BSTIBMM.JDSPOFTJB/BVSV
/VFWB$BMFEPOJB3FQÙCMJDBEF/JVF*TMBT.BSJBOBTEFM/PSUF3FQÙCMJDBEF1BMBV
4BNPB4BNPB"NFSJDBOB*TMBT4BMPNÓO5POHB7BOVBUV
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
"6453"-*"
&YJTUFOÞUJMFTJOGPSNFTTPCSFMPTVTPTBVUØDUPOPT,BMPUBT
'*+*
6OCSFWFJOGPSNF.BSLIBN
EFTDSJCFVOBEÏCJMUSBEJDJØOEFSFDPMFDDJØOFO
TVIÈCJUBUOBUVSBM
/6&7";&-"/%*"
.ÈTGBNPTBQPSMBTJNQPSUBOUFTJOWFTUJHBDJPOFTZFTGVFS[PTEFEFTBSSPMMPFO
MBDVMUJWBDJØOEFMBTFTQFDJFT5VCFSWFBMBJOGPSNBDJØOHFOFSBMFO)BMMFUBM
<B>
"OUFTFYQPSUBCBSFMBUJWBNFOUFHSBOEFTDBOUJEBEFTEF"VSJDVMBSJBB$IJOB
$PMFOTP
1"16"/6&7"(6*/&"
6OFTUVEJPFUOPNJDPMØHJDPTPCSFVOHSVQPEFHFOUFTEFMBTUJFSSBTBMUBTBSSPKB
VOBJNQPSUBODJBNVDIPNÈTBNQMJB4JMMJUPF
6OJOGPSNFTPCSFMPT)4$
VTBEPQPSMBTQPCMBDJPOFTEF(BETVQFOVNFSBNVDIBTFTQFDJFTMPDBMFT4IBX
JODMVZFOEPMBT"NBOJUBTZMBT3VTTVMBTQFSPMBTGVFOUFTPSJHJOBMFTEFFTUB
JOGPSNBDJØO)FJN
OPIBOTJEPFODPOUSBEBT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
"NÏSJDBEFM4VS
)BZ QPDPT JOGPSNFT DPNQMFUPT TPCSF MPT )4$ FO MB SFHJÓO QFSP EPT EPDVNFOUPT
JNQPSUBOUFTRVFQSFTFOUBOJOGPSNBDJÓOÙUJMQSJNFSP1BSBOÃFO#SBTJM.FJKFS
ZTFHVOEPMBSFHJÓOEFM.FSDBEP$PNÙO4VEBNFSJDBOP.&3$0463
JODMVZFOEP
"SHFOUJOB$IJMFZ6SVHVBZ%FTDIBNQT
7FBMB*MVTUSBDJÓO
/PTFIBFODPOUSBEPJOGPSNBDJÓOQBSBMPTTJHVJFOUFTQBÎTFT
(VZBOB'SBODFTB(VZBOB1BSBHVBZ4VSJOBNF7FOF[VFMB
1"¶4
640%&-04)0/(044*-7&453&4$0.&45*#-&4
"3(&/5*/"
-PTIPOHPTDPMNFOJMMBTFSFDPMFDUBOZTFWFOEFOMPDBMNFOUFZIBZSFDPMFDDJPOFT
DPNFSDJBMFTEF4VJMMVTMVUFVTDFSDBEF#BSJMPDIF(BNVOEÓDPNVOJDBDJØO
QFSTPOBM&EJCMFGVOHJDPMMFDUFEJO"SHFOUJOB
-BTFTQFDJFT$JUUBSJBTPODPOTVNJEBT
FOFMTVS.JOUFS$BOOPOZ1FSFEP
3FDJFOUFNFOUFIBTJEPQVCMJDBEBVOB
QFSTQFDUJWBHFOFSBMTPCSFMPT)4$FOMBTSFHJPOFTEFM.&3$0463%FTDIBNQT
#0-*7*"
/PTFIBFODPOUSBEPJOGPSNBDJØOTPCSFTVVTPMPDBM6OBNVKFSFTUBCBWFOEJFOEP
-FVDPBHBSJDVTIPSUFOTJTFOVONFSDBEPEF$PDIBCBNCBFOMPRVFTVHJFSFRVF
TFFGFDUÞBOBMHVOBTSFDPMFDDJPOFTPCTFSWBDJØOQFSTPOBM
-BWFOEFEPSBFSBMBÞOJDB
QFSTPOBRVFWFOEÓB)4$ZFODBOUJEBEFTEFNFOPTEFVOLH
#3"4*-
1BÓTDPOVOBSJDBUSBEJDJØONJDPMØHJDBEFTEFFMQVOUPEFWJTUBDJFOUÓGJDPQFSPVOBEÏCJM
USBEJDJØOEFVTPEF)4$-PTFTUVEJPTFUOPNJDPMØHJDPTFOFM"NB[POBT1SBODF
SFWFMBOVOVTPJNQPSUBOUFFOQFRVF×BFTDBMBDPONJSBTBNBZPSFTSFDPMFDDJPOFT
QBSBMPTEFNÈTIBCJUBOUFTEFMBTGPSFTUBTFO$PMPNCJB#PMJWJB1FSÞZ7FOF[VFMB
"QFTBSEFMBJNQPSUBOUFJONJHSBDJØOJUBMJBOBB3ÓP(SBOEFEP4VMOPTFSFQPSUBO
SFDPMFDDJPOFTBVORVFFYJTUFOHSBOEFTQMBOUBDJPOFTEFQJOPT4DIJGJOP8JUUNBOO
DPNVOJDBDJØOQFSTPOBM&BUJOHGVOHJJOTPVUI#SB[JM
-BJOGMVFODJBEFVOB
QPCMBDJØOÏUOJDBKBQPOFTBNÈTHSBOEFFYUSB×BNFOUFIBEFTBQBSFDJEPBVORVFMPT
"HBSJDVTCMB[FJVOBFTQFDJFNFEJDJOBMGVFSPOEFTDVCJFSUPTBQBSFOUFNFOUFQPSVO
EFTDFOEJFOUFKBQPOÏT&MIPOHPFTFYQPSUBEPB+BQØO&MVTPFOQFRVF×BFTDBMBEF
)4$FOUSFMPTFVSPQFPTFTDPNFOUBEPQPS.FJKFS
$)*-&
&M4VJMMVTMVUFVTFTFYQPSUBEPEFMBTQMBOUBDJPOFTGPSFTUBMFTWFB'"0B
)BZ
VOBUSBEJDJØOJOEÓHFOBMPDBM<.BQVDIF>EFDPOTVNPEF$ZUUBSJBVOIPOHPQBSÈTJUP
DVSJPTÓTJNPFOGPSNBEFCPMBEFHPMGFOMBT[POBTEFMPT/PUIPGBHVTSBVMÓ
DIJMFOPT
.JOUFS$BOOPOZ1FSFEP
6OBMJTUBDPNQMFUBEFMPTIPOHPTDPOTVNJEPT
MPDBMNFOUFFTEJTQPOJCMF'"0C
ZMBBOUFSJPSJOGPSNBDJØOQSPQPSDJPOBEFUBMMFT
EFMBTPQFSBDJPOFTEFSFDPMFDDJØOFOMB3FHJØO7**'"0B
$0-0.#*"
6OBHVÓBSFDJFOUFTPCSFMPTNBDSPNJDFUPT'SBODP.PMBOP"MEBOB(ØNF[Z)BMMJOH
JODMVZFMBTFTQFDJFTDPNFTUJCMFTQFSPOPUJFOFJOGPSNBDJØOEFMBTQSÈDUJDBT
MPDBMFTFOMBSFHJØOBOEJOB
&$6"%03
&YQPSUBEPSFTJSSFHVMBSFTZFOQFRVF×BFTDBMBEFCPMFUPTEFQJOPT
QSJODJQBMNFOUF
BVORVFOPUPUBMNFOUFB&TUBEPT6OJEPT3PKBTZ.BOTVS
-BQSJODJQBMFTQFDJF
FODPOUSBEBFTMB4VJMMVTMVUFVT)FEHFS
1&3Á
-BMJTUBQSFMJNJOBSEFMPT)4$OPQSFTFOUBEFUBMMFTEFMBTQSÈDUJDBTMPDBMFT3FNPUUJZ
$PMBO
6OFTUVEJPFUOPDJFOUÓGJDPTVHJFSFVOBSFDPMFDDJØONÈTBNQMJBQPSQBSUF
EFMBQPCMBDJØOSVSBM'SBORVFNPOUFUBM
636(6":
6OBSFDJFOUFQFSTQFDUJWBHFOFSBMTPCSFMP)4$IBTJEPQVCMJDBEB%FTDIBNQT
&OVNFSBWBSJBTFTQFDJFTRVFIBOTJEPDPNFSDJBMJ[BEBTWFBFM"OFYP
"/&90
3FHJTUSPTQPSQBÓTEFMPT)46
DPNFTUJCMFTNFEJDJOBMFTZPUSPT
VTPT
&TUB MJTUB JODMVZF VOBT FTQFDJFT SFHJTUSBEBT FO QBÎTFT Z IB TJEP QSFQBSBEB B
QBSUJS EF VOB CBTF EF EBUPT QSFMJNJOBS EF JOGPSNBDJÓO QVCMJDBEB -B JOGPSNBDJÓO EF
MB3FQÙCMJDBEF$PSFB+BQÓOZ5BJXÃOQSPWJODJBEF$IJOBOPIBTJEPJODMVJEBZMPT
SFHJTUSPTEFMPTQBÎTFTFVSPQFPTTPOMJNJUBEPT3FDVBESP
-BMJUFSBUVSBNJDPMÓHJDBFT
FYUFOTJWBFONVDIPTQBÎTFTEFTBSSPMMBEPTQFSPBNFOVEPOPIBZJOEJDBDJPOFTDMBSBTEF
DVBMFTFTQFDJFTTPODPOTVNJEBTDPNPiBMJNFOUPu-PTSFHJTUSPTEF&TUBEPT6OJEPTZ
$BOBEÃTPOEFM1BDÎGJDPOPSPFTUFPEFJOGPSNFTEFMBTQSJNFSBTQPCMBDJPOFTBVUÓDUPOBT
-PTJOGPSNFTEF"VTUSBMJBTPOTPMBNFOUFTPCSFFMVTPQPSQBSUFEFMPTBCPSÎHFOFT
-BTFTQFDJFTBÙOOPEFOPNJOBEBTIBOTJEPFYDMVJEBTBNFOPTRVFTFIBZBFODPOUSBEP
PUSPTOPNCSFTEFFTQFDJFTQBSBFTFHÊOFSPFOVOQBÎTQBSUJDVMBS%FFTUFNPEPOPIBO
TJEPJODMVJEBTMBTFTQFDJFT"HBSJDVTBVORVFTFIBZBOJODMVJEPMPT"HBSJDVTDBNQFTUSJT
4ÓMPMPTVTPTEFJNQPSUBODJBFDPOÓNJDBZPQSÃDUJDBIBOTJEPJODMVJEPTIBCJFOEP
PNJUJEPMPTVTPTDFSFNPOJBMFTPSFMJHJPTPT
-PTDPSDIFUFTQPSFKFNQMP<DPNFTUJCMF>TPOVUJMJ[BEPTQBSBJOEJDBSJODFSUJEVNCSF
BDFSDBEFMVTPFOMBGVFOUFEFJOGPSNBDJÓO
-PT UBYPOPNJTUBT VTBO WBSJBT GPSNBT QBSB DMBTJGJDBS VO OPNCSF FTQFDÎGJDP DG Z
BGG JOEJDBO RVF FM FTQÊDJNFO FYBNJOBEPFTNVZDFSDBOPBMBFTQFDJFDMBTJGJDBEBQFK
"NBOJUBBGGSVCFTDFOT
QFSPOPFTUÃOTFHVSPTBMDJFOQPSDJFO-BTMFUSBTTMTJHOJGJDBO
TFOTVMBUPPiFOTFOUJEPHFOFSBMu
6OB MJTUB DPNQMFUB EF UPEBT MBT FTQFDJFT Z QBÎTFT QVFEF TFS WJTVBMJ[BEB FO
XXXXJMEVTFMGVOHJPSH $POUJFOF UPEPT MPT EFUBMMFT TPCSF MPT VTPT SFHJTUSBEPT Z
QSPQJFEBEFT F JODMVZF +BQÓO Z MB 'FEFSBDJÓO EF 3VTJB 4FSHFFWB DPO VOB MJTUB
FYIBVTUJWBEFMPT)4$EF$IJOB.BP
&TUBCBTFEFEBUPTRVFTFQVFEFCVTDBS
GÃDJMNFOUFDPOUJFOFVOPTSFHJTUSPTEFQBÎTFTZTVNJOJTUSBMPTOPNCSFTWÃMJEPT
EFMBTFTQFDJFT
"'("/*45«/
#BUSB4BCSBZ8BMUFS
"3(&-*"
"MTIFJLIZ5SBQQF,ZUPWVPSJ
.PSDIFMMB
DPNFTUJCMF
5JSNBOJBOJWFB
DPNFTUJCMF
1PEBYJTQJTUJMMBSJT
DPNFTUJCMF
5JSNBOJBQJOPMJ
DPNFTUJCMF
5SJDIPMPNBOBVTFPTVN
DPNFTUJCMF
"/(0-"
3BNNFMPPZ8BMMFZO
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
"3(&/5*/"
%FTDIBNQT(BNVOEÓZ)PSBL
5FSNJUPNZDFTTQ
DPNFTUJCMF
$ZUUBSJBIBSJPUJJ
BMJNFOUP
.PSDIFMMBFMBUB
BMJNFOUP
.PSDIFMMBJOUFSNFEJB
BMJNFOUP
1IMFCPQVTCSVDIJJ
BMJNFOUP
4VJMMVTMVUFVT
BMJNFOUP
"3"#*"4"6%*5"
"MTIFJLIZ5SBQQF#PLIBSZZ1BSWF[
,JSLFUBM
1BSNFMJBBVTUSPTJOFOTJT
BMJNFOUP
5FSGF[JBDMBWFSZJ
DPNFTUJCMF
5JSNBOJBOJWFB
DPNFTUJCMF
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
"3.&/*"
/BOBHVZMBODPNVOJDBDJØOQFSTPOBM
"HBSJDVTCJTQPSVT
BMJNFOUP
"HBSJDVTDBNQFTUSJT
BMJNFOUP
"HBSJDVTTJMWBUJDVT
BMJNFOUP
"SNJMMBSJBNFMMFB
BMJNFOUP
$BMPDZCFHBNCPTB
BMJNFOUP
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
-BDUBSJVTEFMJDJPTVT
BMJNFOUP
-FQJTUBOVEB
BMJNFOUP
-FQJTUBQFSTPOBUB
BMJNFOUP
.BDSPMFQJPUBFYDPSJBUB
BMJNFOUP
.BDSPMFQJPUBQSPDFSB
BMJNFOUP
1MFVSPUVTFSZOHJJ
BMJNFOUP
1MFVSPUVTPTUSFBUVT
BMJNFOUP
4VJMMVTHSBOVMBUVT
BMJNFOUP
4VJMMVTMVUFVT
BMJNFOUP
"6453"-*"
,BMPUBT
"NBOJUBTUSPCJMBDFPWPMWBUB
BMJNFOUP
"NBOJUBTVCWJTDPTB
BMJNFOUP
"NBOJUBYBOUIPHBMB
BMJNFOUP
"VSJDVMBSJBDPSOFB
BMJNFOUP
#PMFUVTQTFVEPMPPTJJ
BMJNFOUP
#PMFUVTTQ
BMJNFOUP
$BMWBUJBTVCUPNFOUPTB
BMJNFOUP
$BOUIBSFMMVTDPOHPMFOTJT
BMJNFOUP
$BOUIBSFMMVTGMPSJEVMVT
BMJNFOUP
$BOUIBSFMMVTQMBUZQIZMMVT
BMJNFOUP
$IMPSPQIZMMVNDG
NPMZCEJUFT
BMJNFOUP
$MJUPDZCFTMTQ
BMJNFOUP
$MJUPDZCVMBTQ
BMJNFOUP
$SBUFSFMMVTCFOJOFOTJT
BMJNFOUP
$SBUFSFMMVTDPSOVDPQJPJEFT
BMJNFOUP
%BMEJOJBDPODFOUSJDB
NFEJDJOBM
(FSSPOFNBTQ
BMJNFOUP
(ZNOPQVTMVYVSJBOT
BMJNFOUP
#BUUBSSFBTUFWFOJJ
EFTDPOPDJEP
)FCFMPNBUFSNJUBSJB
BMJNFOUP
#PMFUVTTQ
DPNFTUJCMF
*OPDZCFHCBEKJJ
BMJNFOUP
$IPJSPNZDFTBCPSJHJOVN
BMJNFOUP
*OPDZCFTRVBNBUB
BMJNFOUP
$ZUUBSJBHVOOJJ
BMJNFOUP
-BDUBSJVTCBMJPQIBFVT
BMJNFOUP
'JTUVMJOBIFQBUJDB
BMJNFOUP
-BDUBSJVTEFOTJGPMJVT
BMJNFOUP
.POUBHOJUFTDBOEPMMFJ
EFTDPOPDJEP
-BDUBSJVTFEVMJT
BMJNFOUP
.ZDPDMFMBOEJBCVMVOEBSJ
BMJNFOUPNFEJDJOBM
-BDUBSJVTGMBNNBOT
BMJNFOUP
1IFMMJOVTSJNPTVT
NFEJDJOBM
-BDUBSJVTHZNOPDBSQPJEFT
BMJNFOUP
1IFMMPSJOJBIFSDVMFBOB
PUSPToNPSUBM
-BDUBSJVTMBUJGPMJVT
BMJNFOUP
1IFMMPSJOJBTUSPCJMJOB
EFTDPOPDJEP
-BDUBSJVTMVUFPQVT
BMJNFOUP
1JTPMJUIVTUJODUPSJVT
BMJNFOUPNFEJDJOBM
BMJNFOUP
1PEBYJTQJTUJMMBSJT
PUSPToDPTNÏUJDB
-BDUBSJVT
QTFVEPHZNOPDBSQVT
-BDUBSJVTQVNJMVT
BMJNFOUP
1PMZQPSVTFVDBMZQUPSVN
BMJNFOUPZFTDB
-BDUBSJVTTBQPOBDFPVT
BMJNFOUP
1PMZQPSVTNZMJUUBF
BMJNFOUP
-BDUBSJVTTQFDJFT
BMJNFOUP
1ZDOPQPSVTTBOHVJOFVT
NFEJDJOBM
-BDUBSJVTTQFDJFT
BMJNFOUP
4FDPUJVNTQ
NFEJDJOBM
-BDUBSJVTUFOFMMVT
BMJNFOUP
#&/*/
"OUPOJOZ'SBJUVSF%F(SPPUF
%F,FTFMDPNVOJDBDJØOQFSTPOBM
%F,FTFM$PEKJBZ:PSPV8BMMFZO
Z3BNNFMPP:PSPVZ%F,FTFM
:PSPVFUBM
-BDUBSJVTWPMFNPJEFT
BMJNFOUP
"HBSJDVTCJTQPSVT
BMJNFOUP
"HBSJDVTCVMCJMMPTVT
-FOUJOVTTQ
BMJNFOUP
-FOUJOVTUVCFSSFHJVN
BMJNFOUP
-FOUJOVTWFMVUJOVT
BMJNFOUP
-FOUJOVTTRVBSSPTVMVT
BMJNFOUP
BMJNFOUP
-FQJTUBEJOBIPVOB
BMJNFOUP
"HBSJDVTHPPTTFOTJBF
BMJNFOUP
-FQJTUBTQ
BMJNFOUP
"HBSJDVTWPMWBUVMVT
BMJNFOUP
-FVDPBHBSJDVTCSFTBEPMBF
BMJNFOUP
"HSPDZCFIPXFBOB
BMJNFOUP
-FVDPBHBSJDVTTQOPW
BMJNFOUP
"NBOJUBBGGSVCFTDFOT
BMJNFOUP
-FVDPBHBSJDVTTQ
BMJNFOUP
"NBOJUBDSBTFPEFSNB
BMJNFOUP
-ZDPQFSEPOTQ
BMJNFOUP
"NBOJUBDSBTTJDPOVT
BMJNFOUP
.BDSPDZCFMPCBZFOTJT
BMJNFOUP
"NBOJUBMPPTJJ
BMJNFOUP
.BSBTNJVTCFDPMBDPOHPMJ
BMJNFOUP
"NBOJUBNBTBTJFOTJT
BMJNFOUP
.BSBTNJVTIFJOFNBOOJBOVT
DPNFTUJCMF
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
.BSBTNJVTIFJOFNBOOJBOVT
BMJNFOUP
5SJDIPMPNBNBUTVUBLF
.BSBTNJVTTQQ
BMJNFOUP
/PUIPQBOVTIZHSPQIBOVT
BMJNFOUP
#*&-03364*"
.BMZJ
0DUBWJBOJBJWPSZBOB
BMJNFOUP
"SNJMMBSJBNFMMFB
DPNFTUJCMF
1IMFCPQVTTVEBOJDVT
BMJNFOUP
#PMFUVTFEVMJT
DPNFTUJCMF
1MFVSPUVTDZTUJEJPTVT
BMJNFOUP
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
1MFVSPUVTEKBNPS
BMJNFOUP
(ZSPNJUSBFTDVMFOUB
DPNFTUJCMF
1MFVSPUVTTQ
BMJNFOUP
-BDUBSJVTEFMJDJPTVT
DPNFTUJCMF
1PMZQPSVTTQ
NFEJDJOBM
-BDUBSJVTOFDBUPS
DPNFTUJCMF
1TBUIZSFMMBTQ
BMJNFOUP
-BDUBSJVTUPSNJOPTVT
DPNFTUJCMF
1TBUIZSFMMBUVCFSDVMBUB
BMJNFOUP
-FDDJOVNBVSBOUJBDVN
DPNFTUJCMF
3VCJOPCPMFUVTSPTFPBMCVT
BMJNFOUP
-FDDJOVNTDBCSVN
DPNFTUJCMF
3VTTVMBBGGWJSFTDFOT
BMJNFOUP
.PSDIFMMBFTDVMFOUB
DPNFTUJCMF
3VTTVMBDFMMVMBUBWBSOJHSB
BMJNFOUP
4VJMMVTMVUFVT
DPNFTUJCMF
3VTTVMBDFMMVMBUB
BMJNFOUP
5SJDIPMPNBGMBWPWJSFOT
DPNFTUJCMF
3VTTVMBDPNQSFTTB
BMJNFOUP
5SJDIPMPNBQPSUFOUPTVN
DPNFTUJCMF
3VTTVMBDPOHPBOB
BMJNFOUP
9FSPDPNVTTVCUPNFOUPTVT
DPNFTUJCMF
3VTTVMBHSJTFB
BMJNFOUP
3VTTVMBNFMFBHSJT
BMJNFOUP
#0-*7*"
#PBDPNVOJDBDJØOQFSTPOBM
3VTTVMBPMFJGFSB
BMJNFOUP
3VTTVMBQTFVEPQVSQVSFB
BMJNFOUP
3VTTVMBUFTUBDFB
BMJNFOUP
4DIJ[PQIZMMVNDPNNVOF
BMJNFOUP
5FSNJUPNZDFTBVSBOUJBDVT
BMJNFOUP
5FSNJUPNZDFTDMZQFBUVT
BMJNFOUP
5FSNJUPNZDFTGVMHJOPTVT
BMJNFOUP
#3"4*1SBODFXXXBHBSJDVTOFU
5FSNJUPNZDFTMFUFTUVJ
BMJNFOUP
"HBSJDVTCMB[FJ
NFEJDJOBM
5FSNJUPNZDFTNFEJVT
BMJNFOUP
"VSJDVMBSJBGVTDPTVDDJOFB
BMJNFOUP
5FSNJUPNZDFTNJDSPDBSQVT
BMJNFOUP
$PMMZCJBQTFVEPDBMPQVT
BMJNFOUP
5FSNJUPNZDFTSPCVTUVT
BMJNFOUP
$PMMZCJBTVCQSVJOPTB
BMJNFOUP
5FSNJUPNZDFTTDIJNQFSJ
BMJNFOUP
'BWPMVTCSBTJMJFOTJT
BMJNFOUP
5FSNJUPNZDFTTUSJBUVT
BMJNFOUP
'BWPMVTCSVOOFPMVT
BMJNFOUP
5ZMPQJMVTTQ
BMJNFOUP
'BWPMVTTUSJBUVMVT
BMJNFOUP
7PMWBSJFMMBFBSMFJ
BMJNFOUP
'BWPMVTUFTTFMBUVT
BMJNFOUP
7PMWBSJFMMBWPMWBDFB
BMJNFOUP
(MPFPQPSVTDPODIPJEFT
BMJNFOUP
(ZNOPQJMVTFBSMFJ
BMJNFOUP
(ZNOPQJMVTIJTQJEFMMVT
BMJNFOUP
)ZEOPQPMZQPSVTQBMNBUVT
BMJNFOUP
-BDUPDPMMZCJBBFRVBUPSJBMJT
BMJNFOUP
-FOUJOVTDSJOJUVT
BMJNFOUP
-FOUJOVTHMBCSBUVT
BMJNFOUP
-FOUJOVTTUSJHPTVT
BMJNFOUP
-FOUJOVTWFMVUJOVT
BMJNFOUP
#)65«/
/BNHZFM
-FVDPBHBSJDVTIPSUFOTJT
BMJNFOUP
BMJNFOUP
#0548"/"
3BNNFMPP:8BMMFZO5BZMPSFUBM
.PSDIFMMBDPOJDB
DPNFTUJCMF
5FSGF[JBCPVEJFSJ
DPNFTUJCMF
5FSGF[JBQGFJMJJ
BMJNFOUP
"MCBUSFMMVTTQ
<DPNFTUJCMF>
$BMPDFSBWJTDPTB
<DPNFTUJCMF>
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
$PQSJOVTTQ
<DPNFTUJCMF>
(PNQIVTGMPDDPTVT
DPNFTUJCMF
)ZHSPQIPSVTSVTTVMB
<DPNFTUJCMF>
-BDUBSJVTIBUTVEBLF
<DPNFTUJCMF>
DPNFTUJCMF
-FVDPDPQSJOVT
DIFJNPOPDFQT
BMJNFOUP
-BDUBSJVTQJQFSBUVT
-ZDPQFSEPOQZSJGPSNF
DPNFTUJCMF
/FPDMJUPDZCFCZTTJTFEB
BMJNFOUP
-ZPQIZMMVNGVNPTVN
<DPNFTUJCMF>
1IPMJPUBCJDPMPS
BMJNFOUP
3BNBSJBTQ
<DPNFTUJCMF>
1MFVSPUVTDPODBWVT
BMJNFOUP
<DPNFTUJCMF>
1PMZQPSVTBRVPTVT
BMJNFOUP
4VJMMVTQJDUVT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
1PMZQPSVTJOEJHFOVT
BMJNFOUP
#PMFUVTSFHJVT
<DPNFTUJCMF>
1PMZQPSVTTBQVSFNB
BMJNFOUP
#PMFUVTSIPEPYBOUIVT
EFTDPOPDJEP
1PMZQPSVTTUJQJUBSJVT
BMJNFOUP
#PMFUVTSVGVT
EFTDPOPDJEP
1PMZQPSVTUSJDIPMPNB
BMJNFOUP
#PMFUVTTDBCFS
<DPNFTUJCMF>
1ZDOPQPSVTTBOHVJOFVT
BMJNFOUP
#PMFUVTTVCUPNFOUPTVT
<DPNFTUJCMF>
5SBNFUFTDVCFOTJT
BMJNFOUP
#PMFUVTTVMQIVSFVT
EFTDPOPDJEP
5SBNFUFTPDISBDFB
BMJNFOUP
#PMFUVTUVCFSPTVT
EFTDPOPDJEP
5SJDIBQUVNUSJDIPNBMMVN
BMJNFOUP
#PMFUVTWFSTJQFMMJT
EFTDPOPDJEP
#6-("3*"
*PSEBOPW7BOFWBOE'BLJSPWB
#PWJTUBHJHBOUFB
EFTDPOPDJEP
#PWJTUBOJHSFTDFOT
EFTDPOPDJEP
"HBSJDVTBSWFOTJT
<DPNFTUJCMF>
$BMPDZCFHBNCPTB
DPNFTUJCMF
"HBSJDVTBVSBOUJVT
EFTDPOPDJEP
$BMWBUJBDBFMBUB
<DPNFTUJCMF>
"HBSJDVTCVMCPTVT
EFTDPOPDJEP
$BMWBUJBNBYJNB
EFTDPOPDJEP
"HBSJDVTDBNQFTUSJT
<DPNFTUJCMF>
$BMWBUJBVUSJGPSNJT
<DPNFTUJCMF>
"HBSJDVTDPNQUVMVT
EFTDPOPDJEP
$BNBSPQIZMMVTQSBUFOTJT
<DPNFTUJCMF>
"HBSJDVTNBDVMBUVT
EFTDPOPDJEP
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
"HBSJDVTQTFVEPBVSBOUJBDVT
EFTDPOPDJEP
$BOUIBSFMMVTDMBWBUVT
EFTDPOPDJEP
"HBSJDVTTJMWBUJDVT
<DPNFTUJCMF>
<DPNFTUJCMF>
"MCBUSFMMVTDPOGMVFOT
<DPNFTUJCMF>
$BOUIBSFMMVT
JOGVOEJCVMJGPSNJT
"MCBUSFMMVTPWJOVT
<DPNFTUJCMF>
$BOUIBSFMMVTUVCJGPSNJT
DPNFTUJCMF
"NBOJUBBSHFOUFB
<DPNFTUJCMF>
$ISPPHPNQIVTSVUJMVT
<DPNFTUJCMF>
$MBWBSJBGPSNPTB
EFTDPOPDJEP
$MBWBSJBQBMMJEB
EFTDPOPDJEP
$MBWBSJBQJTUJMMBSJT
EFTDPOPDJEP
$MBWBSJBEFMQIVTQJTUJMMBSJT
DPNFTUJCMF
$MJUPDZCFHFPUSPQB
<DPNFTUJCMF>
$MJUPDZCFHJCCB
<DPNFTUJCMF>
$MJUPDZCFJOGVOEJCVMJGPSNJT
<DPNFTUJCMF>
$MJUPDZCFMBDDBUB
EFTDPOPDJEP
$MJUPDZCFNBYJNB
EFTDPOPDJEP
"NBOJUBDBFTBSFB
<DPNFTUJCMF>
"NBOJUBGVMWB
<DPNFTUJCMF>
"NBOJUBQVTUVMBUB
EFTDPOPDJEP
"NBOJUBSVCFOT
EFTDPOPDJEP
"NBOJUBSVCFTDFOT
DPNFTUJCMF
"NBOJUBTQJTTB
<OPDPNJEP>
"NBOJUBWBHJOBUB
<DPNFTUJCMF>
"NBOJUPQTJTWBHJOBUB
<DPNFTUJCMF>
"NBOJUPQTJTWBHJOBUBWBS
BMCB
<DPNFTUJCMF>
$MJUPDZCFOFCVMBSJT
DPNFTUJCMF
"NBOJUPQTJTWBHJOBUBWBS
QMVNCFB
<DPNFTUJCMF>
$MJUPDZCFPEPSB
DPNFTUJCMF
"NBOJUPQTJTWBHJOBUBWBS
VNCSJOPMVUFB
<DPNFTUJCMF>
$MJUPDZCFPMFBSJB
EFTDPOPDJEP
$MJUPDZCFQIPTQIPSFB
EFTDPOPDJEP
"SNJMMBSJBNFMMFB
DPNFTUJCMF
$MJUPDZCFWJSJEJT
EFTDPOPDJEP
"SNJMMBSJBPTUPZBF
EFTDPOPDJEP
$MJUPQJMVTQSVOVMVT
<DPNFTUJCMF>
#PMFUVTBFSFVT
<DPNFTUJCMF>
$PMMZCJBCBEJB
EFTDPOPDJEP
#PMFUVTCVMCPTVT
EFTDPOPDJEP
$PQSJOVTBUSBNFOUBSJVT
<DPNFTUJCMF>
#PMFUVTDBVEJDJOVT
EFTDPOPDJEP
$PQSJOVTDPNBUVT
DPNFTUJCMF
#PMFUVTDPNNVOJT
EFTDPOPDJEP
$PQSJOVTQPSDFMBOVT
EFTDPOPDJEP
#PMFUVTDSBTTVT
EFTDPOPDJEP
$PSUJOBSJVTQSBFTUBOT
<DPNFTUJCMF>
#PMFUVTDZBOFTDFOT
EFTDPOPDJEP
$SBUFSFMMVTDMBWBUVT
EFTDPOPDJEP
#PMFUVTFEVMJT
DPNFTUJCMF
$SBUFSFMMVTDPSOVDPQJPJEFT
DPNFTUJCMF
#PMFUVTFMFHBOT
<DPNFTUJCMF>
%FOUJOVNSFQBOEVN
EFTDPOPDJEP
#PMFUVTFSZUISPQVT
<DPNFTUJCMF>
'JTUVMJOBCVHMPTTPJEFT
EFTDPOPDJEP
#PMFUVTFTDVMFOUVT
EFTDPOPDJEP
'JTUVMJOBIFQBUJDB
DPNFTUJCMF
#PMFUVTMFVDPQIBFVT
EFTDPOPDJEP
'MBNNVMJOBWFMVUJQFT
<DPNFTUJCMF>
#PMFUVTMVSJEVT
<DPNFTUJCMF>
(PNQIJEJVTHMVUJOPTVT
DPNFTUJCMF
#PMFUVTNJOJBUPQPSVT
EFTDPOPDJEP
(PNQIJEJVTWJTDJEVT
EFTDPOPDJEP
#PMFUVTQVSQVSFVT
EFTDPOPDJEP
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
(PNQIVTDMBWBUVT
DPNFTUJCMF
(ZSPNJUSBFTDVMFOUB
<DPNFTUJCMF>
(ZSPQPSVTDBTUBOFVT
<DPNFTUJCMF>
(ZSPQPSVTDZBOFTDFOT
<DPNFTUJCMF>
)FMWFMMBDSJTQB
DPNFTUJCMF
)FMWFMMBMBDVOPTB
DPNFTUJCMF
)FMWFMMBNJUSB
EFTDPOPDJEP
)FMWFMMBNPOBDFMMB
EFTDPOPDJEP
)FMWFMMBOJWFB
EFTDPOPDJEP
)FMWFMMBTVMDBUB
.PSDIFMMBFTDVMFOUBWBS
WVMHBSJT
EFTDPOPDJEP
.PSDIFMMBSJNPTJQFT
EFTDPOPDJEP
/FWSPQIZMMVNDMBWBUVN
EFTDPOPDJEP
1IBMMVTDSJTQVT
EFTDPOPDJEP
1IMFHNBDJVNQSBFTUBOT
EFTDPOPDJEP
1IPMJPUBDBQFSBUB
EFTDPOPDJEP
1MFVSPUVTPTUSFBUVT
DPNFTUJCMF
1MFVSPUVTPTUSFBUVTG
TBMJHOVT
<DPNFTUJCMF>
EFTDPOPDJEP
1MFVSPUVTPTUSFBUVTWBS
DPMVNCJOVT
<DPNFTUJCMF>
)ZEOVNSFQBOEVN
DPNFTUJCMF
1MFVSPUVTQVMNPOBSJVT
<DPNFTUJCMF>
)ZHSPDZCFQVOJDFB
<DPNFTUJCMF>
1MVUFVTDFSWJOVT
DPNFTUJCMF
)ZHSPQIPSVTFCVSOFVT
<DPNFTUJCMF>
1PMZQPSVTDPOGMVFOT
EFTDPOPDJEP
)ZHSPQIPSVTQVOJDFVT
EFTDPOPDJEP
1PMZQPSVTPWJOVT
EFTDPOPDJEP
)ZHSPQIPSVTSVTTVMB
<DPNFTUJCMF>
1PMZQPSVTTRVBNPTVT
DPNFTUJCMF
*YPDPNVTCPWJOVT
EFTDPOPDJEP
1TFVEPIZEOVNHFMBUJOPTVN <DPNFTUJCMF>
*YPDPNVTFMFHBOT
EFTDPOPDJEP
1UZDIPWFSQBCPIFNJDB
DPNFTUJCMF
*YPDPNVTMVUFVT
EFTDPOPDJEP
3BNBSJBBVSFB
DPNFTUJCMF
,SPNCIPM[JBBVSBOUJBDB
EFTDPOPDJEP
3BNBSJBCPUSZUJT
DPNFTUJCMF
,VFIOFSPNZDFTNVUBCJMJT
<DPNFTUJCMF>
3BNBSJBGMBWB
<DPNFTUJCMF>
-BDDBSJBBNFUIZTUJOB
DPNFTUJCMF
3BNBSJBNBJSFJ
<DPNFTUJCMF>
-BDDBSJBMBDDBUB
DPNFTUJCMF
3IPEPQBYJMMVTQFSTPOBUVT
EFTDPOPDJEP
-BDUBSJVTEFMJDJPTVT
DPNFTUJCMF
3IPEPQIZMMVTTJOVBUVT
EFTDPOPDJEP
-BDUBSJVTQFSHBNFOVT
EFTDPOPDJEP
3P[JUFTDBQFSBUVT
DPNFTUJCMF
-BDUBSJVTQJQFSBUVT
DPNFTUJCMF
3VTTVMBBMVUBDFB
DPNFTUJCMF
-BDUBSJVTUPSNJOPTVT
<DPNFTUJCMF>
3VTTVMBDZBOPYBOUIB
DPNFTUJCMF
-BDUBSJVTWFMMFSFVT
DPNFTUJCMF
3VTTVMBFNFUJDB
<DPNFTUJCMF>
-BDUBSJVTWPMFNVT
DPNFTUJCMF
3VTTVMBPMJWBDFB
<DPNFTUJCMF>
-BFUJQPSVTTVMQIVSFVT
<DPNFTUJCMF>
3VTTVMBWFTDB
<DPNFTUJCMF>
-BOHFSNBOOJBHJHBOUFB
DPNFTUJCMF
3VTTVMBWJSFTDFOT
<DPNFTUJCMF>
-BTJPTQIBFSBHJHBOUFB
EFTDPOPDJEP
3VTTVMBYFSBNQFMJOB
DPNFTUJCMF
-FDDJOVNBVSBOUJBDVN
<DPNFTUJCMF>
4BSDPEPOJNCSJDBUVT
DPNFTUJCMF
-FDDJOVNTDBCSVN
DPNFTUJCMF
4DMFSPEFSNBDJUSJOVN
<DPNFTUJCMF>
-FQJTUBOVEB
<DPNFTUJCMF>
4DMFSPEFSNBWVMHBSF
EFTDPOPDJEP
-FQJTUBQFSTPOBUB
DPNFTUJCMF
4DVUJHFSDPOGMVFOT
EFTDPOPDJEP
-JNBDJVNFCVSOFVN
EFTDPOPDJEP
4DVUJHFSPWJOVT
<DPNFTUJCMF>
-ZDPQFSEPODBFMBUVN
<DPNFTUJCMF>
4VJMMVTCPWJOVT
<DPNFTUJCMF>
-ZDPQFSEPOFDIJOBUVN
EFTDPOPDJEP
4VJMMVTHSBOVMBUVT
<DPNFTUJCMF>
-ZDPQFSEPOHFNNBUVN
DPNFTUJCMF
4VJMMVTHSFWJMMFJ
<DPNFTUJCMF>
-ZDPQFSEPOQFSMBUVN
DPNFTUJCMF
4VJMMVTMVUFVT
DPNFTUJCMF
-ZDPQFSEPOQZSJGPSNF
DPNFTUJCMF
5SJDIPMPNBDPMVNCFUUB
EFTDPOPDJEP
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
5SJDIPMPNBFRVFTUSF
EFTDPOPDJEP
.BDSPMFQJPUBSIBDPEFT
DPNFTUJCMF
5SJDIPMPNBGMBWPWJSFOT
DPNFTUJCMF
.BSBTNJVTBMMJBDFVT
EFTDPOPDJEP
5SJDIPMPNBHFPSHJJ
EFTDPOPDJEP
.BSBTNJVTDBSZPQIZMMFVT
DPNFTUJCMF
5SJDIPMPNBQFSTPOBUVN
EFTDPOPDJEP
.BSBTNJVTPSFBEFT
DPNFTUJCMF
5SJDIPMPNBQPSUFOUPTVN
DPNFTUJCMF
.BSBTNJVTTDPSPEPOJVT
<DPNFTUJCMF>
5SJDIPMPNBSVTTVMB
EFTDPOPDJEP
.PSDIFMMBDPOJDB
<DPNFTUJCMF>
5SJDIPMPNBSVUJMBOT
EFTDPOPDJEP
.PSDIFMMBFTDVMFOUB
DPNFTUJCMF
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
5SJDIPMPNBUFSSFVN
<DPNFTUJCMF>
-FQJPUBEJTDJQFT
DPNFTUJCMF
5SJDIPMPNBUJHSJOVN
EFTDPOPDJEP
.BSBTNJVTIVOHP
DPNFTUJCMF
5SJDIPMPNPQTJTSVUJMBOT
<DPNFTUJCMF>
.ZDFOBBTDIJ
DPNFTUJCMF
7FSQBDPOJDB
<DPNFTUJCMF>
.ZDFOBCJQJOEJFOTJT
DPNFTUJCMF
7FSQBEJHJUBMJGPSNJT
EFTDPOPDJEP
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
9FSPDPNVTCBEJVT
<DPNFTUJCMF>
9FSPDPNVTDISZTFOUFSPO
DPNFTUJCMF
$"/"%«
.BSMFTFUBM5FEEFS.JUDIFMMZ'BSSBO
XXXGPSHPWCDDB
9FSPDPNVTTVCUPNFOUPTVT
DPNFTUJCMF
"DUJOPHZSBNVFIMFOCFSHJJ
BMJNFOUPNFE
"HBSJDVTDBNQFTUSJT
BMJNFOUP
"HBSJDVTTJMWBUJDVT
DPNFTUJCMF
"NBOJUBNVTDBSJB
NFEJDJOBM
"SNJMMBSJBNFMMFB
BMJNFOUP
#636/%*
#VZDLC8BMMFZOZ3BNNFMPP
"SNJMMBSJBPTUPZBF
DPNFTUJCMF
"GSPCPMFUVTMVUFPMVT
DPNFTUJCMF
#PMFUVTFEVMJT
BMJNFOUP
"NBOJUBMPPTJJ
DPNFTUJCMF
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
"NBOJUBSVCFTDFOT
DPNFTUJCMF
$BOUIBSFMMVTGPSNPTVT
DPNFTUJCMF
$DJCBSJVTWBSEFGJCVMBUVT
DPNFTUJCMF
$BOUIBSFMMVT
JOGVOEJCVMJGPSNJT
DPNFTUJCMF
$BOUIBSFMMVTDPOHPMFOTJT
DPNFTUJCMF
$BOUIBSFMMVTTVCBMCJEVT
DPNFTUJCMF
$BOUIBSFMMVTDZBOFTDFOT
DPNFTUJCMF
$FUSBSJBJTMBOEJDB
NFEJDJOBM
$BOUIBSFMMVTDZBOPYBOUIVT
DPNFTUJCMF
$MBEJOBTUFMMBSJT
BMJNFOUP
$BOUIBSFMMVTEFOTJGPMJVT
DPNFTUJCMF
$SBUFSFMMVTDPSOVDPQJPJEFT
BMJNFOUP
$BOUIBSFMMVTQMBUZQIZMMVT
DPNFTUJCMF
&WFSOJBNFTPNPSQIB
NFEJDJOBM
$BOUIBSFMMVTQTFVEPDJCBSJVT
DPNFTUJCMF
'PNFTGPNFOUBSJVT
PUSPToZFTDB
$BOUIBSFMMVTSVCFS
DPNFTUJCMF
'PNJUPQTJTQJOJDPMB
NFEJDJOBMZFTDB
$SVGPQVODUBUVTWBS
PDISBDFVT
DPNFTUJCMF
(ZSPNJUSBFTDVMFOUB
<DPNFTUJCMF>
$BOUIBSFMMVTTQMFOEFOT
DPNFTUJCMF
)FSJDJVNBCJFUJT
BMJNFOUP
$BOUIBSFMMVTTZNPFOTJJ
DPNFTUJCMF
)FSJDJVNFSJOBDFVT
<DPNFTUJCMF>
$MBWBSJBBMCJSBNFB
DPNFTUJCMF
)ZEOVNSFQBOEVN
DPNFTUJCMF
$PMMZCJBBVSFB
DPNFTUJCMF
)ZQPNZDFTMBDUJGMVPSVN
BMJNFOUP
-BDUBSJVTFEVMJT
DPNFTUJCMF
*OPOPUVTPCMJRVVT
NFEJDJOBM
-BDUBSJVTJOWFSTVT
DPNFTUJCMF
*TDIOPEFSNBSFTJOPTVN
NFEJDJOBM
-BDUBSJVTLBCBOTVT
DPNFTUJCMF
-BDDBSJBMBDDBUB
DPNFTUJCMF
-FOUJOVTUVCFSSFHJVN
<DPNFTUJCMF>
-BDUBSJVTEFMJDJPTVT
BMJNFOUP
.BDSPDZCFTQFDUBCJMJT
DPNFTUJCMF
-BFUJQPSVTTVMQIVSFVT
DPNFTUJCMF
1IMFCPQVTDPMPTTVT
<DPNFTUJCMF>
-BOHFSNBOOJBHJHBOUFB
BMJNFOUP
1MFVSPUVTDZTUJEJPTVT
DPNFTUJCMF
-FQJTUBOVEB
BMJNFOUP
3VTTVMBDFMMVMBUB
DPNFTUJCMF
-ZDPQFSEPOQFSMBUVN
BMJNFOUP
3VTTVMBQIBFPDFQIBMB
DPNFTUJCMF
.BDSPMFQJPUBSIBDPEFT
DPNFTUJCMF
4VJMMVTMVUFVT
DPNFTUJCMF
.BSBTNJVTPSFBEFT
BMJNFOUP
5FSNJUPNZDFTMFUFTUVJ
DPNFTUJCMF
.PSDIFMMBFMBUB
BMJNFOUP
5FSNJUPNZDFTNJDSPDBSQVT
DPNFTUJCMF
.ZSJPTDMFSPUJOJBDBSJDJT
BNQVMMBDFBF
NFEJDJOBM
5FSNJUPNZDFTSPCVTUVT
DPNFTUJCMF
1BSNFMJBTVMDBUB
NFEJDJOBM
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
1MFVSPDZCFMMBQPSSJHFOT
DPNFTUJCMF
5FSNJUPNZDFTUJUBOJDVT
DPNFTUJCMF
#63,*/"'"40
3BNNFMPPZ8BMMFZO
$PQSJOVT
DPNFTUJCMF
1IMFCPQVTTVEBOJDVT
DPNFTUJCMF
1MFVSPUVTPTUSFBUVT
BMJNFOUP
$".&3Á/
1FHMFSZ7BOIBFDLF3BNNFMPPZ
8BMMFZO
1PMZP[FMMVTNVMUJQMFY
DPNFTUJCMF
1UZDIPWFSQBCPIFNJDB
BMJNFOUP
$BOUIBSFMMVTQTFVEPDJCBSJVT
3VTTVMBYFSBNQFMJOB
DPNFTUJCMF
DPNFTUJCMF
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
4QBSBTTJTDSJTQB
DPNFTUJCMF
"HBSJDVTTJMWBUJDVT
DPNFTUJCMF
4VJMMVTDBWJQFT
BMJNFOUP
"HBSJDVTTJMWJDPMB
DPNFTUJCMF
5SBNFUFTTVBWFPMFOT
NFEJDJOBMZFTDB
"HSPDZCFDZMJOESBDFB
DPNFTUJCMF
5SJDIPMPNBDBMJHBUVN
BMJNFOUP
"HSPDZCFTBMJDBDJDPMB
DPNFTUJCMF
5SJDIPMPNBNBHOJWFMBSF
DPNFTUJCMF
"MCBUSFMMVTDPOGMVFOT
DPNFTUJCMF
6TOFBIJSUB
NFEJDJOBM
"MFVSJBBVSBOUJB
DPNFTUJCMF
"NBOJUBDBFTBSFB
DPNFTUJCMF
"NBOJUBGVMWB
DPNFTUJCMF
"NBOJUBSVCFTDFOT
DPNFTUJCMF
"NBOJUBWBHJOBUB
DPNFTUJCMF
"SNJMMBSJBNFMMFB
<DPNFTUJCMF>
"SNJMMBSJBUBCFTDFOT
DPNFTUJCMF
"VSJDVMBSJBBVSJDVMBKVEBF
DPNFTUJCMF
"VSJDVMBSJBQPMZUSJDIB
DPNFTUJCMF
#BOLFSBGVMJHJOFPBMCB
NFEJDJOBM
#PMFUFMMVTSVTTFMMJJ
DPNFTUJCMF
#PMFUJOVTQJOFUPSVN
DPNFTUJCMF
#PMFUVTBFSFVT
DPNFTUJCMF
#PMFUVTDJUSJGSBHSBOT
DPNFTUJCMF
#PMFUVTFEVMJT
DPNFTUJCMF
#PMFUVTTQFDJPTVT
DPNFTUJCMF
#PMFUVTWJPMBDFPGVTDVT
DPNFTUJCMF
$BMPDZCFHBNCPTB
DPNFTUJCMF
$BMWBUJBDBFMBUB
DPNFTUJCMF
$BMWBUJBMJMBDJOB
DPNFTUJCMF
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
$BUBUIFMBTNBWFOUSJDPTVN
DPNFTUJCMF
$ISPPHPNQIVTSVUJMVT
DPNFTUJCMF
$MBWBSJBQVSQVSFB
DPNFTUJCMF
$)*-&
'"0C.JOUFS$BOOPOZ1FSFEP
4DINFEB)JSTDINBOOFUBMB
"SNJMMBSJBNFMMFB
BMJNFOUP
"VSJDVMBSJBBVSJDVMBKVEBF
DPNFTUJCMF
"VSJDVMBSJBQPMZUSJDIB
DPNFTUJCMF
#PMFUVTMPZP
BMJNFOUP
$MJUPDZCFOFCVMBSJT
BMJNFOUP
$PQSJOVTBUSBNFOUBSJVT
DPNFTUJCMF
$PQSJOVTDPNBUVT
DPNFTUJCMF
$ZUUBSJBCFSUFSPJ
<DPNFTUJCMF>
$ZUUBSJBEBSXJOJJ
BMJNFOUP
$ZUUBSJBFTQJOPTBF
BMJNFOUP
$ZUUBSJBIBSJPUJJ
DPNFTUJCMF
$ZUUBSJBIPPLFSJ
DPNFTUJCMF
$ZUUBSJBKPIPXJJ
<DPNFTUJCMF>
'JTUVMJOBIFQBUJDB
DPNFTUJCMF
'MBNNVMJOBWFMVUJQFT
BMJNFOUP
(ZSPNJUSBBOUBSUJDB
DPNFTUJCMF
(ZSPNJUSBFTDVMFOUB
DPNFTUJCMF
-BDUBSJVTEFMJDJPTVT
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
.PSDIFMMBDPOJDB
DPNFTUJCMF
NFEJDJOBM
1IPMJPUBFEVMJT
DPNFTUJCMF
$MJUPDZCFDMBWJQFT
DPNFTUJCMF
3BNBSJBTVCBVSBOUJBDB
BMJNFOUP
$MJUPDZCFHFPUSPQB
DPNFTUJCMF
4VJMMVTMVUFVT
BMJNFOUP
$MJUPDZCFOFCVMBSJT
DPNFTUJCMF
7PMWBSJFMMBTQFDJPTB
DPNFTUJCMF
$MJUPQJMVTQSVOVMVT
DPNFTUJCMF
$)*/"
#JSLT$BP$IBNCFSMBJO
%POHZ4IFO(POHZ1FOH
)BMMFUBMB)ÊSLÚOFO
)F)VBOH-J-JV
-JVZ:BOH(VP[IPOH
DPNVOJDBDJØOQFSTPOBM;BOH1FHMFS
Z7BOIBFDLF5V8JOLMFS
XXX[FSJPSH9JBOHZ)BO:BOH
:BOH:BOHZ:BOH
;BOHC;BOHZ1FUFSTFO;BOHZ
1V;BOHZ:BOH;BOHB
;IVBOH;IVBOHZ8BOH
$PMMZCJBSBEJDBUB
DPNFTUJCMF
$PQSJOVTBUSBNFOUBSJVT
DPNFTUJCMF
$PQSJOVTDJOFSFVT
DPNFTUJCMF
$PQSJOVTDPNBUVT
DPNFTUJCMF
$PQSJOVTNJDBDFVT
DPNFTUJCMF
$PSEZDFQTNJMJUBSJT
NFEJDJOBM
$PSEZDFQTTJOFOTJT
DPNFTUJCMF
$PSUJOBSJVTDMBSJDPMPSWBS
UVSNBMJT
DPNFTUJCMF
"HBSJDVTBSWFOTJT
DPNFTUJCMF
$PSUJOBSJVTDPMMJOJUVT
DPNFTUJCMF
"HBSJDVTBVHVTUVT
DPNFTUJCMF
$PSUJOBSJVTFMBUJPS
DPNFTUJCMF
"HBSJDVTCJTQPSVT
DPNFTUJCMF
$PSUJOBSJVTQSBFTUBOT
DPNFTUJCMF
"HBSJDVTCJUPSRVJT
DPNFTUJCMF
$PSUJOBSJVTQVSQVSBTDFOT
DPNFTUJCMF
"HBSJDVTCMB[FJ
DPNFTUJCMF
$PSUJOBSJVTSVGPPMJWBDFVT
BMJNFOUP
"HBSJDVTDBNQFTUSJT
DPNFTUJCMF
$SBUFSFMMVTDPSOVDPQJPJEFT
DPNFTUJCMF
"HBSJDVTHFOOBEJJ
DPNFTUJCMF
$SZQUPQPSVTWPMWBUVT
NFEJDJOBM
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
%JDUZPQIPSBFDIJOPWPMWBUB
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
&OEPQIBMMVTZVOOBOFOTJT
DPNFTUJCMF
.BDSPMFQJPUBSIBDPEFT
DPNFTUJCMF
'JTUVMJOBIFQBUJDB
DPNFTUJCMF
.BSBTNJVTBOESPTBDFVT
NFEJDJOBM
'MBNNVMJOBWFMVUJQFT
DPNFTUJCMF
.BSBTNJVTPSFBEFT
DPNFTUJCMF
'PNFTGPNFOUBSJVT
NFEJDJOBM
.PSDIFMMBDPOJDBWBSSJHJEB
DPNFTUJCMF
(BOPEFSNBBQQMBOBUVN
NFEJDJOBM
.PSDIFMMBDSBTTJQFT
DPNFTUJCMF
(BOPEFSNBMVDJEVN
DPNFTUJCMF
.PSDIFMMBEFMJDJPTB
DPNFTUJCMF
(BOPEFSNBTJOFOTF
NFEJDJOBM
.PSDIFMMBFMBUB
DPNFTUJCMF
(BOPEFSNBUTVHBF
DPNFTUJCMF
.PSDIFMMBFTDVMFOUB
DPNFTUJCMF
(BTUSPEJBFMBUB
DPNFTUJCMF
.FTDVMFOUBWBSSPUVOEB
DPNFTUJCMF
(SJGPMBGSPOEPTB
DPNFTUJCMF
.FTDVMFOUBWBSVNCSJOB
DPNFTUJCMF
)FSJDJVNDMBUISPJEFT
DPNFTUJCMF
.FTDVMFOUBWBSWVMHBSJT
DPNFTUJCMF
)FSJDJVNDPSBMMPJEFT
DPNFTUJCMF
/FPMFOUJOVTBEIBFSFOT
DPNFTUJCMF
)FSJDJVNFSJOBDFVN
DPNFTUJCMF
/FPMFOUJOVTMFQJEFVT
DPNFTUJCMF
)FSJDJVNSBNPTVN
DPNFTUJCMF
0NQIBMJBMBQJEFTDFOT
NFEJDJOBM
)ZEOVNSFQBOEVN
DPNFTUJCMF
0VEFNBOTJFMMBNVDJEB
DPNFTUJCMF
)ZHSPQIPSVTBSCVTUJWVT
DPNFTUJCMF
1BFDJMPNZDFTTJOFOTJT
NFEJDJOBM
)ZHSPQIPSVTSVTTVMB
DPNFTUJCMF
1BOFMMVTTFSPUJOVT
DPNFTUJCMF
)ZQTJ[ZHVTNBSNPSFVT
DPNFTUJCMF
1IBFPMFQJPUBBVSFB
DPNFTUJCMF
,VFIOFSPNZDFTNVUBCJMJT
DPNFTUJCMF
1IBMMVTGSBHSBOT
DPNFTUJCMF
-BDDBSJBMBDDBUB
BMJNFOUP
1IBMMVTJNQVEJDVT
DPNFTUJCMF
-BDDPDFQIBMVNNZMJUUBF
DPNFTUJCMF
1IFMMJOVTCBVNJJ
NFEJDJOBM
-BDUBSJVTBLBIBUTV
DPNFTUJCMF
1IPMJPUBBEJQPTB
DPNFTUJCMF
-BDUBSJVTDBNQIPSBUVT
DPNFTUJCMF
1IPMJPUBBVSJWFMMB
DPNFTUJCMF
-BDUBSJVTEFMJDJPTVT
DPNFTUJCMF
1IPMJPUBOBNFLP
DPNFTUJCMF
-BDUBSJVTIBUTVEBLF
DPNFTUJCMF
1IPMJPUBTRVBSSPTB
DPNFTUJCMF
-BDUBSJVTRVJFUVT
DPNFTUJCMF
1MFVSPUVTBCBMPOVT
DPNFTUJCMF
-BDUBSJVTTBOHVJGMVVT
DPNFTUJCMF
1MFVSPUVTDJUSJOPQJMFBUVT
DPNFTUJCMF
-BDUBSJVTTVCJOEJHP
BMJNFOUP
1MFVSPUVTDPSOVDPQJBF
BMJNFOUP
-BDUBSJVTWPMFNVT
DPNFTUJCMF
DPNFTUJCMF
1MFVSPUVTFSZOHJJWBS
GFSVMBF
DPNFTUJCMF
-BFUJQPSVTTVMQIVSFVT
-BOHFSNBOOJBHJHBOUFB
DPNFTUJCMF
1MFVSPUVTGMPSJEBOVT
DPNFTUJCMF
-BSJDJGPNFTPGGJDJOBMJT
DPNFTUJCMF
1MFVSPUVTPTUSFBUVT
DPNFTUJCMF
-FDDJOVNTDBCSVN
DPNFTUJCMF
1MFVSPUVTQVMNPOBSJVT
DPNFTUJCMF
-FOUJOVMBFEPEFT
DPNFTUJCMF
1MFVSPUVTTBQJEVT
DPNFTUJCMF
-FOUJOVTKBWBOJDVT
DPNFTUJCMF
1PMZP[FMMVTNVMUJQMFY
DPNFTUJCMF
-FOUJOVTTBKPSDBKV
DPNFTUJCMF
1PMZQPSVTDSJTUBUVT
OPDPNFTUJCMF
-FQJTUBDBFTQJUPTB
DPNFTUJCMF
1PMZQPSVTTRVBNPTVT
DPNFTUJCMF
-FQJTUBJSJOB
DPNFTUJCMF
1PMZQPSVTUVCBFGPSNJT
NFEJDJOBM
-FQJTUBMVTDJOB
DPNFTUJCMF
1PMZQPSVTVNCFMMBUVT
DPNFTUJCMF
-FQJTUBOVEB
DPNFTUJCMF
1PMZTUJDUVTVOJDPMPS
NFEJDJOBM
-FQJTUBQFSTPOBUB
DPNFTUJCMF
1TBUIZSFMMBDBOEPMMFBOB
DPNFTUJCMF
-FQJTUBTPSEJEB
DPNFTUJCMF
-FVDPQBYJMMVTHJHBOUFVT
DPNFTUJCMF
-PCBSJBTQ
BMJNFOUP
-ZDPQFSEPOQFSMBUVN
DPNFTUJCMF
-ZDPQFSEPOQZSJGPSNF
DPNFTUJCMF
-ZPQIZMMVNEFDBTUFT
DPNFTUJCMF
-ZPQIZMMVNTZLPTQPSVN
DPNFTUJCMF
1TFVEPIZEOVNHFMBUJOPTVN DPNFTUJCMF
1UZDIPWFSQBCPIFNJDB
DPNFTUJCMF
3BNBMJOBTQ
BMJNFOUP
3BNBSJBCPUSZUJT
DPNFTUJCMF
3BNBSJBGMBWPCSVOOFTDFOT
DPNFTUJCMF
3BNBSJBPCUVTJTTJNB
DPNFTUJCMF
3BNBSJBTUSJDUB
BMJNFOUPNFEJDJOBM
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
DPNFTUJCMF
5SJDIPMPNBTBQPOBDFVN
DPNFTUJCMF
3IJ[PQPHPOSVCFTDFOT
DPNFTUJCMF
5SJDIPMPNBTFKVODUVN
DPNFTUJCMF
3IPEPQIZMMVTDMZQFBUVT
DPNFTUJCMF
5SJDIPMPNBUFSSFVN
DPNFTUJCMF
3IPEPQIZMMVTDSBTTJQFT
DPNFTUJCMF
5VCFSBFTUJWVN
DPNFTUJCMF
3P[JUFTDBQFSBUVT
DPNFTUJCMF
5VCFSCSVNBMF
DPNFTUJCMF
3VTTVMBBMVUBDFB
DPNFTUJCMF
5VCFSJOEJDVN
DPNFTUJCMF
3VTTVMBDZBOPYBOUIB
DPNFTUJCMF
5VCFSNFMBOPTQPSVN
DPNFTUJCMF
3VTTVMBEFMJDB
DPNFTUJCMF
5VCFSSVGVN
DPNFTUJCMF
3VTTVMBEFQBMMFOT
EFTDPOPDJEP
5VCFSTJOPTVN
DPNFTUJCMF
3VTTVMBQFDUJOBUB
EFTDPOPDJEP
5ZSPNZDFTTVMQIVSFVT
NFEJDJOBM
3VTTVMBSVCSB
DPNFTUJCMF
6NCJMJDBSJBFTDVMFOUB
DPNFTUJCMF
3VTTVMBWFTDB
DPNFTUJCMF
6TOFBTQ
NFEJDJOBM
3VTTVMBWJSFTDFOT
DPNFTUJCMF
7PMWBSJFMMBCPNCZDJOB
DPNFTUJCMF
4BSDPEPOBTQSBUVT
DPNFTUJCMF
7PMWBSJFMMBFTDVMFOUB
DPNFTUJCMF
4BSDPEPOJNCSJDBUVT
DPNFTUJCMF
7PMWBSJFMMBWPMWBDFB
DPNFTUJCMF
4DIJ[PQIZMMVNDPNNVOF
DPNFTUJCMF
8PMGJQPSJBFYUFOTB
DPNFTUJCMF
4DMFSPEFSNBTQ
NFEJDJOBM
8ZOOFMMBTJMWJDPMB
DPNFTUJCMF
4IJSBJBCBNCVTJDPMB
NFEJDJOBM
4QBSBTTJTDSJTQB
DPNFTUJCMF
4QPSJTPSJVNDSVFOUVN
BMJNFOUP
$¼5&%*70*3&
%VDPVTTP#BZ5IPFO-PDRVJO
1FHMFSZ7BOIBFDLF3BNNFMPPZ
8BMMFZO
4VJMMVTCPWJOVT
DPNFTUJCMF
)ZHSPQIPSPQTJTBVSBOUJBDB
DPNFTUJCMF
4VJMMVTHSBOVMBUVT
DPNFTUJCMF
)ZHSPQIPSPQTJTNBOHFOPUJJ
DPNFTUJCMF
4VJMMVTHSFWJMMFJ
DPNFTUJCMF
3VTTVMBTQ
BMJNFOUP
4VJMMVTMVUFVT
DPNFTUJCMF
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
5FSNJUPNZDFTBMCVNJOPTVT
DPNFTUJCMF
5FSNJUPNZDFTDMZQFBUVT
DPNFTUJCMF
$045"3*$"
4BFO[-J[BOPZ/BTTBS
5FSNJUPNZDFTDZMJOESJDVT
DPNFTUJCMF
3IJ[PQPHPOQJDFVT
5FSNJUPNZDFTFVSIJ[VT
DPNFTUJCMF
5FSNJUPNZDFTIFJNJJ
DPNFTUJCMF
5FSNJUPNZDFTNJDSPDBSQVT
DPNFTUJCMF
"HBSJDVTTJMWBUJDVT
DPNFTUJCMF
"NBOJUBDBFTBSFB
DPNFTUJCMF
"NBOJUBHFNNBUB
DPNFTUJCMF
"NBOJUBJOBVSBUB
DPNFTUJCMF
"NBOJUBNVTDBSJB
BMVDJOØHFOP
WFOFOPTP
5IBNOPMJBWFSNJDVMBSJT
<BMJNFOUP>
5IFMFQIPSBHBOCBKVO
BMJNFOUP
"NBOJUBSVCFTDFOT
DPNFTUJCMF
5IFMFQIPSBWJBMJT
OPDPNFTUJCMF
"NBOJUBWBHJOBUB
DPNFTUJCMF
5SBNFUFTSPCJOJPQIJMB
DPNFTUJCMF
"SNJMMBSJBNFMMFB
DPNFTUJCMF
5SBNFUFTTBOHVJOFB
NFEJDJOBM
"SNJMMBSJBUBCFTDFOT
DPNFTUJCMF
5SBNFUFTWFSTJDPMPS
DPNFTUJCMF
"TQSPQBYJMMVTMFQJTUPJEFT
DPNFTUJCMF
5SFNFMMBBVSBOUJB
DPNFTUJCMF
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
5SFNFMMBGPMJBDFB
DPNFTUJCMF
$PMMZCJBEJTUPSUB
DPNFTUJCMF
5SFNFMMBGVDJGPSNJT
<NFEJDJOBM>
$PMMZCJBESZPQIJMB
DPNFTUJCMF
5SFNFMMBMVUFTDFOT
DPNFTUJCMF
$PMMZCJBGBNJMJB
DPNFTUJCMF
5SFNFMMBNFTFOUFSJDB
DPNFTUJCMF
$PMMZCJBQMBUZQIZMMB
DPNFTUJCMF
5SJDIPMPNBCBLBNBUTVUBLF
DPNFTUJCMF
$PQSJOVTDPNBUVT
DPNFTUJCMF
5SJDIPMPNBDBMJHBUVN
DPNFTUJCMF
$PSUJOBSJVTQVSQVSBTDFOT
DPNFTUJCMF
5SJDIPMPNBGMBWPWJSFOT
DPNFTUJCMF
$SBUFSFMMVTDPSOVDPQJPJEFT
DPNFTUJCMF
5SJDIPMPNBNBHOJWFMBSF
DPNFTUJCMF
'JTUVMJOBIFQBUJDB
DPNFTUJCMF
5SJDIPMPNBNBUTVUBLF
DPNFTUJCMF
)FMWFMMBMBDVOPTB
DPNFTUJCMF
5SJDIPMPNBNPOHPMJDVN
DPNFTUJCMF
)FSJDJVNFSJOBDFVT
DPNFTUJCMF
5SJDIPMPNBQPSUFOUPTVN
DPNFTUJCMF
)ZEOVNVNCJMJDBUVN
DPNFTUJCMF
5SJDIPMPNBRVFSDJDPMB
DPNFTUJCMF
)ZHSPQIPSVTQFOBSJVT
DPNFTUJCMF
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
-BDDBSJBBNFUIZTUJOB
DPNFTUJCMF
#PMFUVTBFTUJWBMJT
DPNFTUJCMF
-BDDBSJBMBDDBUB
DPNFTUJCMF
#PMFUVTFSZUISPQVT
DPNFTUJCMF
-BDSZNBSJBWFMVUJOB
DPNFTUJCMF
$BMPDZCFHBNCPTB
DPNFTUJCMF
-BDUBSJVTEFMJDJPTVT
DPNFTUJCMF
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
-BDUBSJVTJOEJHP
DPNFTUJCMF
$PQSJOVTDPNBUVT
DPNFTUJCMF
-BDUBSJVTNJUJTTJNVT
DPNFTUJCMF
$SBUFSFMMVTDPSOVDPQJPJEFT
DPNFTUJCMF
-BDUBSJVTWFMMFSFVT
DPNFTUJCMF
-FDDJOVNHSJTFVN
DPNFTUJCMF
-FQJTUBOVEB
DPNFTUJCMF
-FDDJOVNTDBCSVN
DPNFTUJCMF
-FVDPQBYJMMVTHJHBOUFVT
DPNFTUJCMF
-FDDJOVNUFTUBDFPTDBCSVN
DPNFTUJCMF
-ZPQIZMMVNBHHSFHBUVN
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
.BDSPMFQJPUBHSBDJMFOUB
DPNFTUJCMF
.BDSPMFQJPUBSIBDPEFT
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
.PSDIFMMBFTDVMFOUB
DPNFTUJCMF
.BSBTNJVTPSFBEFT
DPNFTUJCMF
1MFVSPUVTPTUSFBUVT
DPNFTUJCMF
.FMBOPMFVDBHSBNNPQPEJB
DPNFTUJCMF
3VTTVMBDZBOPYBOUIB
DPNFTUJCMF
.PSDIFMMBFTDVMFOUB
DPNFTUJCMF
5SJDIPMPNBQPSUFOUPTVN
DPNFTUJCMF
.PSDIFMMBFTDVMFOUBWBS
SPUVOEB
DPNFTUJCMF
9FSPDPNVTCBEJVT
DPNFTUJCMF
.ZDFOBQVSB
DPNFTUJCMF
9FSPDPNVTTVCUPNFOUPTVT
DPNFTUJCMF
1BOBFPMVTDZBOFTDFOT
BMVDJOØHFOP
1MFVSPUVTPTUSFBUVT
DPNFTUJCMF
1MFVSPUVTTBMJHOVT
DPNFTUJCMF
&41"º"
$FSWFSBZ$PMJOBT.BSUÓOF[0SJBEF
3VFEBZ.BSUÓOF[.BSUÓOF['MPSJUZ
$PMJOBT
1MVUFVTDFSWJOVT
DPNFTUJCMF
"HBSJDVTBSWFOTJT
1TJMPDZCFB[UFDPSVN
BMVDJOØHFOP
"HSPDZCFBFHFSJUB
BMJNFOUP
1TJMPDZCFDVCFOTJT
BMVDJOØHFOP
"NBOJUBDBFTBSFB
BMJNFOUP
1TJMPDZCFNFYJDBOB
BMVDJOØHFOP
"NBOJUBQPOEFSPTB
BMJNFOUP
3IPEPQIZMMVTBQSJMJT
DPNFTUJCMF
"SNJMMBSJBNFMMFB
BMJNFOUP
3VTTVMBBUSPQVSQVSFB
DPNFTUJCMF
#PMFUVTBFSFVT
BMJNFOUP
3VTTVMBDIBNBFMFPOUJOB
DPNFTUJCMF
#PMFUVTBFTUJWBMVT
BMJNFOUP
3VTTVMBDZBOPYBOUIB
DPNFTUJCMF
#PMFUVTFEVMJT
BMJNFOUP
3VTTVMBFSZUISPQVT
DPNFTUJCMF
#PMFUVTQJOJDPMB
BMJNFOUP
3VTTVMBMFQJEB
DPNFTUJCMF
#PMFUVTSFHJVT
BMJNFOUP
3VTTVMBNJOVUVMB
DPNFTUJCMF
#PMFUVTSFUJDVMBUVT
BMJNFOUP
3VTTVMBWJTDJEB
DPNFTUJCMF
$BMPDZCFHBNCPTB
BMJNFOUP
7PMWBSJFMMBCBLFSJ
DPNFTUJCMF
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
7PMWBSJFMMBCPNCZDJOB
DPNFTUJCMF
$BOUIBSFMMVTMVUFTDFOT
BMJNFOUP
7PMWBSJFMMBTQFDJPTB
DPNFTUJCMF
$BOUIBSFMMVTUVCBFGPSNJT
BMJNFOUP
DPNFTUJCMF
$MJUPDZCFHFPUSPQB
BMJNFOUP
$MJUPDZCFOFCVMBSJT
BMJNFOUP
9FSVMBSBEJDBUB
&(*150
;BLIBSZFUBM
BMJNFOUP
$PQSJOVTDPNBUVT
BMJNFOUP
"HBSJDVTDBNQFTUSJT
DPNFTUJCMF
$SBUFSFMMVTDPSOVDPQJPJEFT
BMJNFOUP
"HBSJDVTSPENBOJ
DPNFTUJCMF
)FMWFMMBMFVDPNFMBFOB
BMJNFOUP
DPNFTUJCMF
)FMWFMMBNPOBDIFMMB
BMJNFOUP
)ZEOVNSFQBOEVN
BMJNFOUP
)ZEOVNSVGFTDFOT
BMJNFOUP
$PMMZCJBTQ
&4-07&/*"
XXXNBULVSKBDPN
"HBSJDVTCJUPSRVJT
DPNFTUJCMF
)ZHSPQIPSVTFCVSOFVT
BMJNFOUP
"HBSJDVTDBNQFTUSJT
DPNFTUJCMF
)ZHSPQIPSVTMBUJUBCVOEVT
BMJNFOUP
"NBOJUBDBFTBSFB
DPNFTUJCMF
)ZHSPQIPSVTMJNBDJOVT
BMJNFOUP
"NBOJUBSVCFTDFOT
DPNFTUJCMF
)ZHSPQIPSVTPMJWBDFPBMCVT
BMJNFOUP
"SNJMMBSJBNFMMFB
DPNFTUJCMF
)ZHSPQIPSVTSVTTVMB
BMJNFOUP
"TUSBFVTIZHSPNFUSJDVT
OPDPNFTUJCMF
-BDUBSJVTEFMJDJPTVT
BMJNFOUP
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
-BDUBSJVTTBOHVJGMVVT
BMJNFOUP
"HBSJDVTTVCSVUJMFTDFOT
DPNFTUJCMF
-FDDJOVNBVSBOUJBDVN
BMJNFOUP
"MFVSJBBVSBOUJB
DPNFTUJCMF
-FDDJOVNMFQJEVN
BMJNFOUP
"NBOJUBDBMZQUSBUB
DPNFTUJCMF
-FQJTUBOVEB
BMJNFOUP
"NBOJUBDPOTUSJDUB
DPNFTUJCMF
-FQJTUBQFSTPOBUB
BMJNFOUP
"NBOJUBQBDIZDPMFB
DPNFTUJCMF
-FVDPQBYJMMVTDBOEJEVT
BMJNFOUP
"NBOJUBWBHJOBUB
DPNFTUJCMF
-FVDPQBYJMMVTMFQJTUPJEFT
BMJNFOUP
"NBOJUBWFMPTB
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
BMJNFOUP
"SNJMMBSJBNFMMFB
DPNFTUJCMF
.BDSPMFQJPUBSIBDPEFT
BMJNFOUP
"SNJMMBSJBQPOEFSPTB
DPNFTUJCMF
.BSBTNJVTPSFBEFT
BMJNFOUP
#BUUBSSFBQIBMMPJEFT
NFEJDJOBM
.PSDIFMMBFTDVMFOUB
BMJNFOUP
#PMFUVTBFSFVT
DPNFTUJCMF
1MFVSPUVTFSZOHJJ
BMJNFOUP
#PMFUVTBQQFOEJDVMBUVT
DPNFTUJCMF
1MFVSPUVTOFCSPEFOTJT
BMJNFOUP
#PMFUVTFEVMJT
DPNFTUJCMF
1MFVSPUVTPTUSFBUVT
BMJNFOUP
#PMFUVTUSVODBUVT
DPNFTUJCMF
3IPEPDZCFUSVODBUB
BMJNFOUP
#PMFUVT[FMMFSJ
DPNFTUJCMF
3VTTVMBDZBOPYBOUIB
BMJNFOUP
#PWJTUBQJMB
NFEJDJOBM
3VTTVMBWJSFTDFOT
BMJNFOUP
#PWJTUBQMVNCFB
NFEJDJOBM
4VJMMVTCFMMJOJJ
BMJNFOUP
$BMWBUJBDSBOJJGPSNJT
NFEJDJOBM
4VJMMVTCPWJOVT
BMJNFOUP
$BMWBUJBDZBUIJGPSNJT
NFEJDJOBM
4VJMMVTHSBOVMBUVT
BMJNFOUP
$BMWBUJBVUSJGPSNJT
NFEJDJOBM
4VJMMVTMVUFVT
BMJNFOUP
$BNBSPQIZMMVTQSBUFOTJT
DPNFTUJCMF
4VJMMVTWBSJFHBUVT
BMJNFOUP
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
5FSGF[JBBSFOBSJB
BMJNFOUP
$BOUIBSFMMVTTVCBMCJEVT
DPNFTUJCMF
5FSGF[JBDMBWFSZJ
BMJNFOUP
$BOUIBSFMMVTUVCJGPSNJT
DPNFTUJCMF
5FSGF[JBMFQUPEFSNB
BMJNFOUP
$ISPPHPNQIVTWJOJDPMPS
DPNFTUJCMF
5SJDIPMPNBFRVFTUSF
BMJNFOUP
$MJUPQJMVTQSVOVMVT
DPNFTUJCMF
5SJDIPMPNBHPOJPTQFSNVN
BMJNFOUP
$PQSJOVTDPNBUVT
DPNFTUJCMF
5SJDIPMPNBQPSUFOUPTVN
BMJNFOUP
$SBUFSFMMVTDPSOVDPQJPJEFT
DPNFTUJCMF
5SJDIPMPNBUFSSFVN
BMJNFOUP
&OUPMPNBCMPYBNJJ
DPNFTUJCMF
5VCFSBFTUJWVN
BMJNFOUP
&OUPMPNBNBEJEVN
DPNFTUJCMF
5VCFSCSVNBMF
BMJNFOUP
'MBNNVMJOBWFMVUJQFT
DPNFTUJCMF
5VCFSNFMBOPTQPSVN
BMJNFOUP
'MPDDVMBSJBBMCPMBOBSJQFT
DPNFTUJCMF
(FBTUSVN
NFEJDJOBM
(PNQIVTDMBWBUVT
DPNFTUJCMF
)FMWFMMBMBDVOPTB
DPNFTUJCMF
)FSJDJVNBCJFUJT
DPNFTUJCMF
)FSJDJVNFSJOBDFVT
DPNFTUJCMF
)FSJDJVNSBNPTVN
DPNFTUJCMF
)ZEOVNSFQBOEVN
DPNFTUJCMF
)ZEOVNVNCJMJDBUVN
DPNFTUJCMF
)ZQTJ[ZHVTUFTTVMBUVT
BMJNFOUP
&45"%046/*%04%&".²3*$"
#JSLT-JODPGGZ.JUDIFM4JOHFS
XXXNZLPXFCDPN
"HBSJDVTBSWFOTJT
DPNFTUJCMF
"HBSJDVTBVHVTUVT
DPNFTUJCMF
"HBSJDVTCFOFTJJ
DPNFTUJCMF
"HBSJDVTCFSOBSEJJ
DPNFTUJCMF
"HBSJDVTCJTQPSVT
DPNFTUJCMF
"HBSJDVTCJUPSRVJT
DPNFTUJCMF
"HBSJDVTDBNQFTUSJT
DPNFTUJCMF
"HBSJDVTDVQSFPCSVOOFVT
DPNFTUJCMF
-BDDBSJBBNFUIZTUFP
PDDJEFOUBMJT
DPNFTUJCMF
"HBSJDVTGVTDPGJCSJMMPTVT
DPNFTUJCMF
-BDUBSJVTEFMJDJPTVT
DPNFTUJCMF
"HBSJDVTGVTDPWFMBUVT
DPNFTUJCMF
-BDUBSJVTSVCJEVT
DPNFTUJCMF
"HBSJDVTMJMBDFQT
DPNFTUJCMF
-BDUBSJVTSVCSJMBDUFVT
DPNFTUJCMF
"HBSJDVTQBUUFSTPOBF
DPNFTUJCMF
-BFUJQPSVTTVMQIVSFVT
DPNFTUJCMF
"HBSJDVTQFSPCTDVSVT
DPNFTUJCMF
-FDDJOVNNBO[BOJUBF
DPNFTUJCMF
"HBSJDVTTJMWJDPMB
DPNFTUJCMF
-FDDJOVNTDBCSVN
DPNFTUJCMF
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
DPNFTUJCMF
#PWJTUBQMVNCFB
DPNFTUJCMF
-FVDPBHBSJDVTMFVDPUIJUFT
DPNFTUJCMF
#VDIXBMEPCPMFUVT
TQFDUBCJMJT
DPNFTUJCMF
-ZDPQFSEPOQFSMBUVN
DPNFTUJCMF
NFEJDJOBM
$BMPDZCFHBNCPTB
DPNFTUJCMF
-ZDPQFSEPOQZSJGPSNF
NFEJDJOBM
$BMWBUJBFYDJQVMJGPSNJT
DPNFTUJCMF
.BDSPMFQJPUBSIBDPEFT
DPNFTUJCMF
$BMWBUJBVUSJGPSNJT
DPNFTUJCMF
.BSBTNJVTPSFBEFT
DPNFTUJCMF
$BNBSPQIZMMVTOJWFVT
DPNFTUJCMF
.PSDIFMMBEFMJDJPTB
DPNFTUJCMF
$BNBSPQIZMMVTQSBUFOTJT
DPNFTUJCMF
.PSHBOFMMBTVCJODBSOBUB
NFEJDJOBM
$BNBSPQIZMMVTWJSHJOFVT
EFTDPOPDJEP
1MFVSPUVTPTUSFBUVT
DPNFTUJCMF
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
1MVUFVTDFSWJOVT
DPNFTUJCMF
$BOUIBSFMMVTGMPDDPTVT
DPNFTUJCMF
4BSDPEPOJNCSJDBUVT
DPNFTUJCMF
$BUBUIFMBTNBWFOUSJDPTVN
DPNFTUJCMF
4QBSBTTJTDSJTQB
DPNFTUJCMF
$IBMDJQPSVTQJQFSBUVT
DPNFTUJCMF
4VJMMVTCSFWJQFT
DPNFTUJCMF
$ISPPHPNQIVTSVUJMVT
DPNFTUJCMF
4VJMMVTQVOHFOT
DPNFTUJCMF
$MBWBSJBQVSQVSFB
DPNFTUJCMF
4VJMMVTUPNFOUPTVT
DPNFTUJCMF
$MBWBSJBEFMQIVTQJTUJMMBSJT
DPNFTUJCMF
5SJDIPMPNBGMBWPWJSFOT
DPNFTUJCMF
$MBWBSJBEFMQIVT
TBDIBMJOFOTJT
DPNFTUJCMF
5SJDIPMPNBNBHOJWFMBSF
DPNFTUJCMF
$MBWBSJBEFMQIVTUSVODBUVT
DPNFTUJCMF
5QFTTVOEBUVNWBS
QPQVMJOVN
DPNFTUJCMF
$MBWVMJOBBNFUIZTUJOB
DPNFTUJCMF
5VMPTUPNBCSVNBMF
NFEJDJOBM
$MBWVMJOBDSJTUBUB
DPNFTUJCMF
7PMWBSJFMMBTQFDJPTB
DPNFTUJCMF
$MJUPDZCFJOGVOEJCVMJGPSNJT
DPNFTUJCMF
DPNFTUJCMF
$MJUPDZCFOFCVMBSJT
DPNFTUJCMF
$MJUPDZCFPEPSB
DPNFTUJCMF
$MJUPDZCFTVBWFPMFOT
DPNFTUJCMF
-FQJTUBOVEB
9FSPDPNVTDISZTFOUFSPO
&5*01¶"
5VOP
-FOUJOVTTQ
DPNFTUJCMF
$MJUPQJMVTQSVOVMVT
DPNFTUJCMF
4DIJ[PQIZMMVNDPNNVOF
DPNFTUJCMF
$PMMZCJBDPOUPSUB
DPNFTUJCMF
'&%&3"$*»/%&364*"
4BBS7BTJMFWB/PUB7BMF
TPMBNFOUFQBSBFMMFKBOPPSJFOUFSVTP
"HBSJDVTDBNQFTUSJT
DPNFTUJCMF
"HBSJDVTQMBDPNZDFT
DPNFTUJCMF
"HBSJDVTTJMWBUJDVT
DPNFTUJCMF
"HBSJDVTTJMWJDPMB
DPNFTUJCMF
"MFVSJBBVSBOUJB
<DPNFTUJCMF>
"NBOJUBDBFTBSFPJEFT
DPNFTUJCMF
"NBOJUBDSPDFB
DPNFTUJCMF
"NBOJUBNVTDBSJB
WFOFOPTP
NFEJDJOBM
"NBOJUBWBHJOBUB
DPNFTUJCMF
"SNJMMBSJBNFMMFB
DPNFTUJCMF
"VSJDVMBSJBBVSJDVMBKVEBF
DPNFTUJCMF
"VSJDVMBSJBQPMZUSJDIB
DPNFTUJCMF
#PMFUJOVTBTJBUJDVT
DPNFTUJCMF
#PMFUJOVTQBMVTUFS
EFTDPOPDJEP
#PMFUVTDBMPQVT
DPNFTUJCMF
#PMFUVTFEVMJT
OPDPNFTUJCMF
#PMFUVTFSZUISPQVT
DPNFTUJCMF
#PMFUVTMVSJEVT
DPNFTUJCMF
#PMFUVTSFHJVT
DPNFTUJCMF
#UPNFOUPTPTRVBNVMPTVT
OPDPNFTUJCMF
$PMMZCJBESZPQIJMB
DPNFTUJCMF
$PQSJOVTBUSBNFOUBSJVT
DPNFTUJCMF
$PQSJOVTDPNBUVT
DPNFTUJCMF
$PQSJOVTNJDBDFVT
DPNFTUJCMF
$PSUJOBSJVTBMCPWJPMBDFVT
DPNFTUJCMF
$PSUJOBSJVTBSNFOJBDVT
DPNFTUJCMF
$PSUJOBSJVTBSNJMMBUVT
DPNFTUJCMF
$PSUJOBSJVTDPMMJOJUVT
DPNFTUJCMF
$PSUJOBSJVTHMBVDPQVT
DPNFTUJCMF
$PSUJOBSJVTPSJDIBMDFVT
DPNFTUJCMF
$PSUJOBSJVTQSBTJOVT
DPNFTUJCMF
$SBUFSFMMVTDPSOVDPQJPJEFT
DPNFTUJCMF
'MBNNVMJOBWFMVUJQFT
DPNFTUJCMF
'PNFTGPNFOUBSJVT
NFEJDJOBM
(PNQIJEJVTNBDVMBUVT
DPNFTUJCMF
(PNQIJEJVTQVSQVSBTDFOT
DPNFTUJCMF
(PNQIVTDMBWBUVT
DPNFTUJCMF
(ZSPNJUSBBNCJHVB
DPNFTUJCMF
(ZSPNJUSBFTDVMFOUB
EFTDPOPDJEP
(ZSPNJUSBJOGVMB
EFTDPOPDJEP
(ZSPNJUSBVTTVSJFOTJT
DPNFTUJCMF
)FMWFMMBDSJTQB
DPNFTUJCMF
)FSJDJVNFSJOBDFVT
DPNFTUJCMF
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
)ZEOPUSZBUVMBTOFJ
DPNFTUJCMF
-FDDJOVNIPMPQVT
EFTDPOPDJEP
)ZEOVNSFQBOEVN
DPNFTUJCMF
-FDDJOVNPYZEBCJMF
DPNFTUJCMF
)ZHSPDZCFDBOUIBSFMMVT
DPNFTUJCMF
-FDDJOVNTDBCSVN
DPNFTUJCMF
)ZHSPDZCFDPDDJOFB
DPNFTUJCMF
-FDDJOVNUFTUBDFPTDBCSVN
DPNFTUJCMF
)ZHSPDZCFDPOJDB
DPNFTUJCMF
-FQJTUBHMBVDPDBOB
DPNFTUJCMF
)ZHSPDZCFMBFUB
DPNFTUJCMF
-FVDPBHBSJDVTMFVDPUIJUFT
DPNFTUJCMF
)ZHSPDZCFPCSVTTFB
DPNFTUJCMF
-FVDPDPSUJOBSJVTCVMCJHFS
DPNFTUJCMF
)ZHSPDZCFQTJUUBDJOB
DPNFTUJCMF
-JNBDFMMBJMMJOJUB
DPNFTUJCMF
)ZHSPDZCFQVOJDFB
DPNFTUJCMF
-ZDPQFSEPOQFSMBUVN
DPNFTUJCMF
)ZHSPDZCFVOHVJOPTB
DPNFTUJCMF
-ZDPQFSEPOQZSJGPSNF
<DPNFTUJCMF>
)ZHSPQIPSVTBHBUIPTNVT
DPNFTUJCMF
-ZPQIZMMVNDPOOBUVN
DPNFTUJCMF
)ZHSPQIPSVTDBNBSPQIZMMVT
DPNFTUJCMF
-ZPQIZMMVNEFDBTUFT
DPNFTUJCMF
)ZHSPQIPSVTDISZTPEPO
DPNFTUJCMF
-ZPQIZMMVNVMNBSJVN
DPNFTUJCMF
)ZHSPQIPSVTFCVSOFVT
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
)ZHSPQIPSVTFSVCFTDFOT
DPNFTUJCMF
.BDSPMFQJPUBQVFMMBSJT
DPNFTUJCMF
)ZHSPQIPSVTMJNBDJOVT
DPNFTUJCMF
.BSBTNJVTPSFBEFT
DPNFTUJCMF
)ZHSPQIPSVTMVDPSVN
DPNFTUJCMF
.BSBTNJVTTDPSPEPOJVT
DPNFTUJCMF
)ZHSPQIPSVTPMJWBDFPBMCVT
DPNFTUJCMF
.FMBOPMFVDBCSFWJQFT
DPNFTUJCMF
)ZHSPQIPSVTQVEPSJOVT
DPNFTUJCMF
.FMBOPMFVDBHSBNNPQPEJB
DPNFTUJCMF
)ZHSPQIPSVTSVTTVMB
DPNFTUJCMF
.FMBOPMFVDBWFSSVDJQFT
EFTDPOPDJEP
*OPOPUVTPCMJRVVT
NFEJDJOBM
.PSDIFMMBDPOJDB
DPNFTUJCMF
,VFIOFSPNZDFTNVUBCJMJT
DPNFTUJCMF
.PSDIFMMBFTDVMFOUB
DPNFTUJCMF
-BDDBSJBBNFUIZTUJOB
DPNFTUJCMF
0UJEFBPOPUJDB
DPNFTUJCMF
-BDDBSJBMBDDBUB
DPNFTUJCMF
0VEFNBOTJFMMB
CSVOOFPNBSHJOBUB
DPNFTUJCMF
-BDUBSJVTDISZTPSSIFVT
DPNFTUJCMF
0VEFNBOTJFMMBNVDJEB
DPNFTUJCMF
-BDUBSJVTDPOUSPWFSTVT
DPNFTUJCMF
1BOFMMVTTFSPUJOVT
DPNFTUJCMF
-BDUBSJVTEFMJDJPTVT
DPNFTUJCMF
1BYJMMVTJOWPMVUVT
DPNFTUJCMF
-BDUBSJVTGMBWJEVMVT
DPNFTUJCMF
1IBFPMFQJPUBBVSFB
DPNFTUJCMF
-BDUBSJVTJOTVMTVT
DPNFTUJCMF
1IBMMVTJNQVEJDVT
OPDPNFTUJCMF
-BDUBSJVTKBQPOJDVT
DPNFTUJCMF
1IFMMJOVTJHOJBSJVT
NFEJDJOBM
-BDUBSJVTOFDBUPS
DPNFTUJCMF
1IPMJPUBBVSJWFMMB
DPNFTUJCMF
-BDUBSJVTQJQFSBUVT
DPNFTUJCMF
1MFVSPUVTDJUSJOPQJMFBUVT
DPNFTUJCMF
-BDUBSJVTQVCFTDFOT
DPNFTUJCMF
1MFVSPUVTPTUSFBUVT
DPNFTUJCMF
-BDUBSJVTQZSPHBMVT
DPNFTUJCMF
1MJDBSJBCBEJB
DPNFTUJCMF
-BDUBSJVTSFQSBFTFOUBOFVT
<DPNFTUJCMF>
1MVUFVTDFSWJOVT
DPNFTUJCMF
-BDUBSJVTSFTJNVT
DPNFTUJCMF
1MVUFVTDPDDJOFVT
DPNFTUJCMF
-BDUBSJVTSVGVT
DPNFTUJCMF
1PMZQPSVTTRVBNPTVT
DPNFTUJCMF
-BDUBSJVTTDSPCJDVMBUVT
DPNFTUJCMF
1PSQIZSFMMVTBUSPCSVOOFVT
DPNFTUJCMF
-BDUBSJVTUPSNJOPTVT
DPNFTUJCMF
1PSQIZSFMMVTQTFVEPTDBCFS
DPNFTUJCMF
-BDUBSJVTUSJWJBMJT
DPNFTUJCMF
1TFVEPIZEOVNHFMBUJOPTVN DPNFTUJCMF
-BDUBSJVTVWJEVT
<DPNFTUJCMF>
1TJMPCPMFUJOVTMBSJDFUJ
DPNFTUJCMF
-BDUBSJVTWFMMFSFVT
DPNFTUJCMF
1UZDIPWFSQBCPIFNJDB
DPNFTUJCMF
-BDUBSJVTWPMFNVT
DPNFTUJCMF
3BNBSJBBVSFB
DPNFTUJCMF
-BFUJQPSVTTVMQIVSFVT
DPNFTUJCMF
3BNBSJBCPUSZUPJEFT
DPNFTUJCMF
-BOHFSNBOOJBHJHBOUFB
DPNFTUJCMF
3BNBSJBGMBWB
DPNFTUJCMF
-FDDJOVNBVSBOUJBDVN
DPNFTUJCMF
3BNBSJBGPSNPTB
OPDPNFTUJCMF
-FDDJOVNDISPNBQFT
DPNFTUJCMF
3BNBSJBJOWBMJJ
OPDPNFTUJCMF
-FDDJOVNFYUSFNJPSJFOUBMF
DPNFTUJCMF
3BNBSJBPCUVTJTTJNB
OPDPNFTUJCMF
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
3BNBSJBQVMDIFSSJNB
DPNFTUJCMF
5SJDIPMPNBUFSSFVN
DPNFTUJCMF
3IJ[PQPHPOSPTFPMVT
DPNFTUJCMF
5SJDIPMPNPQTJTEFDPSB
DPNFTUJCMF
3IPEPQIZMMVTBQSJMJT
DPNFTUJCMF
5SJDIPMPNPQTJTSVUJMBOT
DPNFTUJCMF
3IPEPQIZMMVTDMZQFBUVT
DPNFTUJCMF
5ZMPQJMVTOFPGFMMFVT
OPDPNFTUJCMF
3P[JUFTDBQFSBUVT
DPNFTUJCMF
7PMWBSJFMMBTQFDJPTB
DPNFTUJCMF
3VTTVMBBEVTUB
DPNFTUJCMF
9FSPDPNVTCBEJVT
DPNFTUJCMF
3VTTVMBBFSVHJOFB
DPNFTUJCMF
9FSPDPNVTDISZTFOUFSPO
DPNFTUJCMF
3VTTVMBBMCPOJHSB
DPNFTUJCMF
9FSPDPNVTSVCFMMVT
DPNFTUJCMF
3VTTVMBBMVUBDFB
DPNFTUJCMF
9FSPDPNVTTVCUPNFOUPTVT
DPNFTUJCMF
3VTTVMBBVSBUB
DPNFTUJCMF
3VTTVMBDPOTPCSJOB
DPNFTUJCMF
'*+*
.BSLIBN
3VTTVMBDZBOPYBOUIB
DPNFTUJCMF
"VSJDVMBSJBTQ
3VTTVMBEFMJDB
DPNFTUJCMF
3VTTVMBFNFUJDB
DPNFTUJCMF
3VTTVMBGMBWB
DPNFTUJCMF
'*-*1*/"4
/PWFMMJOP1FHMFSZ7BOIBFDLF
7FBUBNCJÏO.FOEP[BoSFHJTUSPTOP
JODMVJEPT
3VTTVMBGPFUFOT
DPNFTUJCMF
"HBSJDVT{ TQQ
BMJNFOUP
3VTTVMBGSBHJMJT
DPNFTUJCMF
(BOPEFSNB{ TQQ
BMJNFOUP
3VTTVMBPMJWBTDFOT
DPNFTUJCMF
1MFVSPUVT{ TQQ
BMJNFOUP
3VTTVMBQFDUJOBUPJEFT
DPNFTUJCMF
1PMZQPSVT{ TQQ
BMJNFOUP
3VTTVMBQVODUBUB
DPNFTUJCMF
5FSNJUPNZDFTFVSIJ[VT
DPNFTUJCMF
3VTTVMBRVFMFUJJ
EFTDPOPDJEP
5FSNJUPNZDFTNJDSPDBSQVT
DPNFTUJCMF
3VTTVMBWFTDB
DPNFTUJCMF
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
3VTTVMBWJSFTDFOT
DPNFTUJCMF
3VTTVMBYFSBNQFMJOB
DPNFTUJCMF
4BSDPEPOJNCSJDBUVT
DPNFTUJCMF
("#»/
3BNNFMPP:8BMMFZO8BMMFZOZ
3BNNFMPP/PUBPUSPTUJQPTNÈTFTUÈO
FOVNFSBEPTFOJO8BMLFSDPOTVTOPNCSFT
WVMHBSFTTPMBNFOUF
4BSDPEPOMPCBUVT
DPNFTUJCMF
4BSDPTDZQIBDPDDJOFB
DPNFTUJCMF
4DVUJHFSPWJOVT
DPNFTUJCMF
4QBSBTTJTDSJTQB
DPNFTUJCMF
4USPCJMPNZDFTGMPDDPQVT
DPNFTUJCMF
4USPQIBSJBSVHPTPBOOVMBUB
DPNFTUJCMF
4VJMMVTBCJFUJOVT
DPNFTUJCMF
4VJMMVTBNFSJDBOVT
DPNFTUJCMF
4VJMMVTCPWJOVT
DPNFTUJCMF
4VJMMVTDBWJQFT
DPNFTUJCMF
4VJMMVTHSBOVMBUVT
DPNFTUJCMF
4VJMMVTHSFWJMMFJ
DPNFTUJCMF
4VJMMVTMVUFVT
BMJNFOUP
$BOUIBSFMMVT
DPNFTUJCMF
%BMEJOJB
NFEJDJOBM
-FOUJOVTUVCFSSFHJVN
DPNFTUJCMF
1PMZQPSVTSIJ[PNPSQIVT
PUSPToZFTDB
1ZDOPQPSVT
NFEJDJOBM
()"/"
%VDPVTTP#BBOE5IPFO0CPEBJBOE
"QFUPSHCPS3BNNFMPPBOE8BMMFZO
8BMMFZOBOE3BNNFMPP
"HBSJDVTDBNQFTUSJT
DPNFTUJCMF
"HBSJDVTHPPTTFOTJBF
DPNFTUJCMF
"JSJDVMBSJBTQ
DPNFTUJCMF
NFEJDJOBM
DPNFTUJCMF
$BMWBUJBFYDJQVMJGPSNJT
DPNFTUJCMF
NFEJDJOBM
4VJMMVTQJDUVT
DPNFTUJCMF
$BOUIBSFMMVTGMPSJEVMVT
BMJNFOUP
4VJMMVTQMBDJEVT
DPNFTUJCMF
$PQSJOVTNJDBDFVT
DPNFTUJCMF
4VJMMVTQMPSBOT
DPNFTUJCMF
%BMEJOJB$PODÏOUSJDB
NFEJDJOBM
4VJMMVTTVCMVUFVT
DPNFTUJCMF
(BOPEFSNBMVDJEVN
NFEJDJOBM
4VJMMVTWBSJFHBUVT
DPNFTUJCMF
-FOUJOVTUVCFSSFHJVN
NFEJDJOBM
4VJMMVTWJTDJEVT
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
5SFNJTDVTIFMWFMMPJEFT
DPNFTUJCMF
.ZVDFOBGMBGFTDFOT
DPNFTUJCMF
5SJDIPMPNBBUSPTRVBNPTVN
DPNFTUJCMF
1ÏIMFCPQVTDPMPTTVT
DPNFTUJCMF
5SJDIPMPNBGVMWVN
DPNFTUJCMF
1MFVUVTTVCDFSWJOVT
DPNFTUJCMF
5SJDIPMPNBPSJSVCFOT
DPNFTUJCMF
1TBUIZSFMMBTQ
DPNFTUJCMF
5SJDIPMPNBQPSUFOUPTVN
DPNFTUJCMF
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
4DIJ[PQIZMMVNDPNVOF
DPNFTUJCMF
NFEJDJOBM
5FSNJUPNZDFTTQ
DPNFTUJCMF
7PMWBSJFMMBWPMWBDFB
DPNFTUJCMF
3BNBSJBGMBWB
BMJNFOUP
3VTTVMBEFMJDB
BMJNFOUP
4DIJ[PQIZMMVNDPNNVOF
BMJNFOUP
5SFNFMMBSFUJDVMBUB
BMJNFOUP
(3&$*"
%JBNBOEJTDPNVOJDBDJØOQFSTPOBM
5SJDIPMPNBGMBWPWJSFOT
BMJNFOUP
"HBSJDVTBSWFOTJT
BMJNFOUP
5SPHJBTQ
BMJNFOUP
"HBSJDVTDBNQFTUSJT
BMJNFOUP
"NBOJUBDBFTBSFB
BMJNFOUP
(6*/&"
8BMMFZOZ3BNNFMPP
#PMFUVTTQQ
BMJNFOUP
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
$PQSJOVTTQ
BMJNFOUP
-BDUBSJVTEFMJDJPTVT
BMJNFOUP
.BDSPMFQJPUBTQ
BMJNFOUP
)0/(,0/(3FHJØOBENJOJTUSBUJWBFTQFDJBM$IJOB
$IBOHZ.BP
1MFVSPUVTPTUSFBUVT
BMJNFOUP
"HBSJDVTBCSVQUJCVMCVT
DPNFTUJCMF
3BNBSJBTQ
BMJNFOUP
"HBSJDVTBSWFOTJT
(6"5&."-"
'MPSFTDPNVOJDBDJØOQFSTPOBM
DPNFTUJCMF
NFEJDJOBM
"HBSJDVTCJTQPSVT
DPNFTUJCMF
NFEJDJOBM
"HBSJDVTDBNQFTUSJT
BMJNFOUP
"HBSJDVTDBNQFTUSJT
"HSPDZCFBFHFSJUB
BMJNFOUP
DPNFTUJCMF
NFEJDJOBM
"NBOJUBDBFTBSFB
BMJNFOUP
"HBSJDVTDPNUVMVT
DPNFTUJCMF
"HBSJDVTNJDSPNFHFUIVT
DPNFTUJCMF
"HBSJDVTQMBDPNZDFT
<DPNFTUJCMF>
"HBSJDVTQVSQVSFMMVT
<DPNFTUJCMF>
"HBSJDVTSVCFMMVT
DPNFTUJCMF
"HBSJDVTTFNPUVT
<DPNFTUJCMF>
"HBSJDVTTJMWBUJDVT
DPNFTUJCMF
"HBSJDVTTJMWJDPMB
DPNFTUJCMF
"HSPDZCFDZMJOESBDFB
DPNFTUJCMF
NFEJDJOBM
"HSPDZCFEVSB
DPNFTUJCMF
NFEJDJOBM
"HSPDZCFGBSJOBDFB
DPNFTUJCMF
"HSPDZCFQBMVEPTB
DPNFTUJCMF
"HSPDZCFQFEJBEFT
DPNFTUJCMF
"HSPDZCFQSBFDPY
DPNFTUJCMF
NFEJDJOBM
"NBOJUBDBMZQUSPEFSNB
BMJNFOUP
"NBOJUBIFNJCBQIB
BMJNFOUP
"NBOJUBSVCFTDFOT
BMJNFOUP
"SNJMMBSJBNFMMFB
BMJNFOUP
"VSJDVMBSJBEFMJDBUB
BMJNFOUP
#PMFUVTFEVMJT
BMJNFOUP
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
-FQJPUBHSBTTFJ
DPNFTUJCMF
(6:"/"
4JNNPOT)FOLFMZ#BT
"NBOJUBQFSQIBFB
DPNFTUJCMF
$BOUIBSFMMVTJHOJDPMPS
BMJNFOUP
$BOUIBSFMMVTPEPSBUVT
BMJNFOUP
$BUBUIFMBTNBWFOUSJDPTVN
BMJNFOUP
$MBWVMJOBDJOFSFB
BMJNFOUP
$PSUJOBSJVTQSBFTUBOT
BMJNFOUP
)FMWFMMBDSJTQB
BMJNFOUP
)FMWFMMBMBDVOPTB
BMJNFOUP
)ZEOVNSFQBOEVN
BMJNFOUP
"NBOJUBSVCFTDFOT
DPNFTUJCMF
)ZHSPQIPSVTSVTTVMB
BMJNFOUP
"NBOJUBWBHJOBUB
<DPNFTUJCMF>
)ZQPNZDFTMBDUJGMVPSVN
BMJNFOUP
"NBOJUBWJSHJOFPJEFT
DPNFTUJCMF
-BDDBSJBBNFUIZTUFB
BMJNFOUP
"NBVSPEFSNBOJHSVN
NFEJDJOBM
-BDDBSJBCJDPMPS
BMJNFOUP
"NBVSPEFSNBSVEF
NFEJDJOBM
-BDDBSJBMBDDBUB
BMJNFOUP
"SNJMMBSJBNFMMFB
DPNFTUJCMF
NFEJDJOBM
-BDUBSJVTDPSSVHJT
BMJNFOUP
"TUSBFVTIZHSPNFUSJDVT
NFEJDJOBM
-BDUBSJVTEFMJDJPTVT
BMJNFOUP
"VSJDVMBSJBBVSJDVMBKVEBF
-BDUBSJVTJOEJHP
BMJNFOUP
DPNFTUJCMF
NFEJDJOBM
-BDUBSJVTSVCSJMBDUFVT
BMJNFOUP
"VSJDVMBSJBEFMJDBUB
DPNFTUJCMF
NFEJDJOBM
-BDUBSJVTTBMNPOJDPMPS
BMJNFOUP
"VSJDVMBSJBGVTDPTVDDJOFB
DPNFTUJCMF
.PSDIFMMBFTDVMFOUB
BMJNFOUP
"VSJDVMBSJBQPMZUSJDIB
1MFVSPUVTTQ
BMJNFOUP
DPNFTUJCMF
NFEJDJOBM
#PMFUVTFNPEFOTJT
DPNFTUJCMF
3BNBSJBBSBJPTQPSB
BMJNFOUP
#PMFUVTHSJTFVT
DPNFTUJCMF
3BNBSJBCPUSZUJT
BMJNFOUP
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
#PMFUVTTQFDJPTVT
<DPNFTUJCMF>
'PNJUPQTJTVMNBSJB
NFEJDJOBM
#PWJTUBQMVNCFB
DPNFTUJCMF
NFEJDJOBM
(BOPEFSNBBQQMBOBUVN
NFEJDJOBM
#PWJTUFMMBTJOFOTJT
NFEJDJOBM
(BOPEFSNBDBQFOTF
NFEJDJOBM
(BOPEFSNBMPCBUVN
NFEJDJOBM
(BOPEFSNBMVDJEVN
NFEJDJOBM
(BOPEFSNBTJOFOTF
NFEJDJOBM
(BOPEFSNBUFOVF
NFEJDJOBM
(BOPEFSNBUSPQJDVN
NFEJDJOBM
$BMPDFSBDPSOFB
DPNFTUJCMF
$BMPDFSBWJTDPTB
DPNFTUJCMF
$BMPDZCFMFVDPDFQIBMB
DPNFTUJCMF
$BMWBUJBDBFMBUB
NFEJDJOBM
$BMWBUJBDSBOJJGPSNJT
DPNFTUJCMF
NFEJDJOBM
(BOPEFSNBUTVHBF
NFEJDJOBM
$BMWBUJBDZBUIJGPSNJT
DPNFTUJCMF
NFEJDJOBM
(FBTUSVNUSJQMFY
NFEJDJOBM
$BMWBUJBMJMBDJOB
DPNFTUJCMF
NFEJDJOBM
(PNQIVTDMBWBUVT
DPNFTUJCMF
(SJGPMBGSPOEPTB
$BNBSPQIZMMVTWJSHJOFVT
DPNFTUJCMF
DPNFTUJCMF
NFEJDJOBM
$BOUIBSFMMVTDJOFSFVT
DPNFTUJCMF
(ZSPEPOMJWJEVT
DPNFTUJCMF
$BOUIBSFMMVTDJOOBCBSJOVT
DPNFTUJCMF
(ZSPQPSVTDBTUBOFVT
<DPNFTUJCMF>
$FSSFOBVOJDPMPS
NFEJDJOBM
)FSJDJVNFSJOBDFVT
DPNFTUJCMF
NFEJDJOBM
$MBWBSJBWFSNJDVMBSJT
DPNFTUJCMF
)FYBHPOJBBQJBSJB
NFEJDJOBM
$MBWJDPSPOBQZYJEBUB
DPNFTUJCMF
)JSTDIJPQPSVTBCJFUJOVN
NFEJDJOBM
$MBWVMJOBDSJTUBUB
DPNFTUJCMF
DPNFTUJCMF
)JSTDIJPQPSVT
GVTDPWJPMBDFVN
NFEJDJOBM
$MBWVMJOPQTJTIFMWPMB
$MBWVMJOPQTJTNJZBCFBOB
DPNFTUJCMF
)PIFOCVFIFMJBQFUBMPJEFT
DPNFTUJCMF
)ZHSPDZCFDBOUIBSFMMVT
DPNFTUJCMF
)ZHSPQIPSPQTJTBVSBOUJBDB
DPNFTUJCMF
)ZHSPQIPSVTFCVSOFVT
DPNFTUJCMF
$MJUPDZCFDMBWJQFT
DPNFTUJCMF
$MJUPDZCFGSBHSBOT
<DPNFTUJCMF>
NFEJDJOBM
$MJUPQJMVTQSVOVMVT
DPNFTUJCMF
)ZQTJ[ZHVTNBSNPSFVT
DPNFTUJCMF
$PMMZCJBBDFSWBUB
<DPNFTUJCMF>
*TDIOPEFSNBSFTJOPTVN
NFEJDJOBM
$PMMZCJBCVUZSBDFB
<DPNFTUJCMF>
,PCBZBTJBOJQQPOJDB
DPNFTUJCMF
$PMMZCJBDPOGMVFOT
DPNFTUJCMF
,VFIOFSPNZDFTNVUBCJMJT
DPNFTUJCMF
$PMMZCJBESZPQIJMB
<DPNFTUJCMF>
-BDDBSJBBNFUIZTUFB
DPNFTUJCMF
$PQSJOVTDPNBUVT
<DPNFTUJCMF>
NFEJDJOBM
-BDDBSJBMBDDBUB
DPNFTUJCMF
$PQSJOVTNJDBDFVT
<DPNFTUJCMF>
NFEJDJOBM
-BDSZNBSJBWFMVUJOB
DPNFTUJCMF
-BDUBSJVTBLBIBUTV
DPNFTUJCMF
$PQSJOVTQMJDBUJMJT
DPNFTUJCMF
NFEJDJOBM
-BDUBSJVTEFMJDJPTVT
DPNFTUJCMF
$PQSJOVTSBEJBOT
DPNFTUJCMF
NFEJDJOBM
-BDUBSJVTIBUTVEBLF
DPNFTUJCMF
NFEJDJOBM
$PQSJOVTTUFSRVJMJOVT
DPNFTUJCMF
NFEJDJOBM
-BDUBSJVTIZHSPQIPSPJEFT
DPNFTUJCMF
NFEJDJOBM
$SBUFSFMMVTBVSFVT
DPNFTUJCMF
-BDUBSJVTWPMFNVT
$SBUFSFMMVTDPSOVDPQJPJEFT
DPNFTUJCMF
DPNFTUJCMF
NFEJDJOBM
-BOHFSNBOOJBHJHBOUFB
$SFQJEPUVTBQQMBOBUVT
DPNFTUJCMF
DPNFTUJCMF
NFEJDJOBM
$SFQJEPUVTNPMMJT
DPNFTUJCMF
-BOPQJMBOJQQPOJDB
DPNFTUJCMF
$ZBUIVTTUFSDPSFVT
NFEJDJOBM
-FOUJOFMMVTDPDIMFBUVT
DPNFTUJCMF
$ZTUPEFSNBBNJBOUIJOVN
DPNFTUJCMF
-FOUJOVMBFEPEFT
DPNFTUJCMF
NFEJDJOBM
$ZTUPEFSNBUFSSFJ
DPNFTUJCMF
-FOUJOVTTBKPSDBKV
DPNFTUJCMF
%BDSZNZDFTQBMNBUVT
DPNFTUJCMF
-FOUJOVTTUSJHPTVT
DPNFTUJCMF
%BDSZPQJOBYTQBUIVMBSJB
DPNFTUJCMF
-FOUJOVTUJHSJOVT
DPNFTUJCMF
%JDUZPQIPSBEVQMJDBUB
DPNFTUJCMF
NFEJDJOBM
-FQJPUBBTQFSB
DPNFTUJCMF
%JOEVTJBUBGMVUFB
DPNFTUJCMF
-FQJPUBDMZQFPMBSJB
<DPNFTUJCMF>
%JDUZPQIPSBNVMUJDPMPS
<NFEJDJOBM>
-FQJPUBWFOUSJPTPTQPSB
DPNFTUJCMF
'MBNNVMJOBWFMVUJQFT
DPNFTUJCMF
-FQJTUBOVEB
DPNFTUJCMF
NFEJDJOBM
-FQJTUBTPSEJEB
DPNFTUJCMF
'PNFTGPNFOUBSJVT
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
-FVDPBHBSJDVTQVEJDVT
<DPNFTUJCMF>
1MFVSPUVTDPSUJDBUVT
-FVDPDPQSJOVTDFQBFTUJQFT
<DPNFTUJCMF>
NFEJDJOBM
DPNFTUJCMF
NFEJDJOBM
1MFVSPUVTDZTUJEJPTVT
DPNFTUJCMF
-JNBDFMMBHMJPEFSNB
DPNFTUJCMF
1MFVSPUVTGMFYJMJT
DPNFTUJCMF
-ZDPQFSEPOBTQFSVN
NFEJDJOBM
1MFVSPUVTPTUSFBUVT
-ZDPQFSEPOQFSMBUVN
DPNFTUJCMF
NFEJDJOBM
DPNFTUJCMF
NFEJDJOBM
1MFVSPUVTQVMNPOBSJVT
DPNFTUJCMF
-ZDPQFSEPOQVTJMMVN
NFEJDJOBM
1MFVSPUVTSIPEPQIZMMVT
DPNFTUJCMF
-ZDPQFSEPOQZSJGPSNF
DPNFTUJCMF
NFEJDJOBM
1MFVSPUVTTQPEPMFVDVT
DPNFTUJCMF
-ZDPQFSEPOTQBEJDFVN
NFEJDJOBM
1MVUFVTMFPOJOVT
DPNFTUJCMF
-ZPQIZMMVNGVNPTVN
DPNFTUJCMF
1MVUFVTQFMMJUVT
DPNFTUJCMF
-ZPQIZMMVNVMNBSJVN
DPNFTUJCMF
1MVUFVTUSJDVTQJEBUVT
DPNFTUJCMF
-ZTVSVTNPLVTJO
NFEJDJOBM
1PMZQPSVTBMWFPMBSJT
NFEJDJOBM
.BDSPDZCFMPCBZFOTJT
DPNFTUJCMF
1PMZQPSVTBSDVMBSJVT
DPNFTUJCMF
NFEJDJOBM
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
NFEJDJOBM
1PMZQPSVTFMFHBOT
NFEJDJOBM
.BDSPMFQJPUBSIBDPEFT
DPNFTUJCMF
NFEJDJOBM
1PMZQPSVTVNCFMMBUVT
DPNFTUJCMF
NFEJDJOBM
.BSBTNJFMMVTSBNFBMJT
DPNFTUJCMF
NFEJDJOBM
1TBUIZSFMMBDBOEPMMFBOB
DPNFTUJCMF
1TBUIZSFMMBQJMVMJGPSNJT
DPNFTUJCMF
.BSBTNJVTDPIBFSFOT
DPNFTUJCMF
NFEJDJOBM
1TBUIZSFMMBSVHPDFQIBMB
DPNFTUJCMF
.BSBTNJVTDSJOJTFRVJ
DPNFTUJCMF
1VMWFSPCPMFUVTSBWFOFMJJ
.BSBTNJVTNBYJNVT
DPNFTUJCMF
<DPNFTUJCMF>
NFEJDJOBM
1ZDOPQPSVTDJOOBCBSJOVT
NFEJDJOBM
.BSBTNJVTPSFBEFT
DPNFTUJCMF
NFEJDJOBM
1ZDOPQPSVTDPDDJOFVT
NFEJDJOBM
.BSBTNJVTQFSTPOBUVT
DPNFTUJCMF
3BNBSJBBQJDVMBUB
DPNFTUJCMF
.BSBTNJVTQVSQVSFPTUSJBUVT
DPNFTUJCMF
3IJ[PQPHPOSVCFTDFOT
DPNFTUJCMF
.FHBDPMMZCJBQMBUZQIZMMB
DPNFTUJCMF
NFEJDJOBM
3VTTVMBBFSVHJOFB
DPNFTUJCMF
.FMBOPMFVDBBMCPGMBWJEB
DPNFTUJCMF
3VTTVMBDSVTUPTB
DPNFTUJCMF
NFEJDJOBM
.FMBOPMFVDBNFMBMFVDB
DPNFTUJCMF
3VTTVMBEFMJDB
.ZDFOBQVSB
DPNFTUJCMF
DPNFTUJCMF
NFEJDJOBM
3VTTVMBFNFUJDB
<NFEJDJOBM>
/FPMFOUJOVTMFQJEFVT
DPNFTUJCMF
NFEJDJOBM
3VTTVMBGPFUFOT
<NFEJDJOBM>
0TTJDBVMJTMJHOBUJMJT
DPNFTUJCMF
3VTTVMBMJMBDFB
0VEFNBOTJFMMBNVDJEB
DPNFTUJCMF
NFEJDJOBM
DPNFTUJCMF
NFEJDJOBM
3VTTVMBTBOHVJOFB
1BOFMMVTTFSPUJOVT
DPNFTUJCMF
DPNFTUJCMF
NFEJDJOBM
3VTTVMBTFOFDJT
<NFEJDJOBM>
1BOFMMVTTUJQUJDVT
<NFEJDJOBM>
3VTTVMBWFTDB
1IBMMVTJNQVEJDVT
DPNFTUJCMF
NFEJDJOBM
DPNFTUJCMF
NFEJDJOBM
3VTTVMBWJSFTDFOT
1IBMMVTSVCJDVOEVT
<NFEJDJOBM>
DPNFTUJCMF
NFEJDJOBM
1IBMMVTUFOVJT
NFEJDJOBM
4BSDPTDZQIBDPDDJOFB
DPNFTUJCMF
1IFMMJOVTDPODIBUVT
NFEJDJOBM
4DIJ[PQIZMMVNDPNNVOF
DPNFTUJCMF
1IFMMJOVTJHOJBSJVT
NFEJDJOBM
4DMFSPEFSNBCPWJTUB
DPNFTUJCMF
NFEJDJOBM
1IPMJPUBGMBNNBOT
DPNFTUJCMF
NFEJDJOBM
4DMFSPEFSNBDJUSJOVN
<NFEJDJOBM>
1IPMJPUBIJHIMBOEFOTJT
DPNFTUJCMF
4DMFSPEFSNBGMBWJEVN
NFEJDJOBM
1IPMJPUBOBNFLP
DPNFTUJCMF
NFEJDJOBM
4DMFSPEFSNBQPMZSIJ[VN
DPNFTUJCMF
NFEJDJOBM
1IZMMPQPSVTSIPEPYBOUIVT
DPNFTUJCMF
4DMFSPEFSNBWFSSVDPTVN
NFEJDJOBM
1JTPMJUIVTUJODUPSJVT
NFEJDJOBM
4USPCJMPNZDFTDPOGVTVT
DPNFTUJCMF
1MFVSPDZCFMMBQPSSJHFOT
DPNFTUJCMF
4USPCJMPNZDFTTUSPCJMBDFVT
DPNFTUJCMF
NFEJDJOBM
1MFVSPUVTDJUSJOPQJMFBUVT
DPNFTUJCMF
NFEJDJOBM
4USPQIBSJBDPSPOJMMB
DPNFTUJCMF
NFEJDJOBM
1MFVSPUVTDPSOVDPQJBF
DPNFTUJCMF
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
4USPQIBSJBSVHPTPBOOVMBUB
DPNFTUJCMF
$FUSBSJBTUSVNTQ
PUSPToFTQFDJB
4USPQIBSJBTFNJHMPCBUB
DPNFTUJCMF
NFEJDJOBM
$MBWBSJBBVSFB
DPNFTUJCMF
4VJMMVTBNFSJDBOVT
DPNFTUJCMF
$MJUPDZCFTQ
DPNFTUJCMF
$PMMZCJBTQ
DPNFTUJCMF
$PQSJOVTBDVNJOBUVT
DPNFTUJCMF
$PQSJOVTBUSBNFOUBSJVT
DPNFTUJCMF
4VJMMVTCSFWJQFT
DPNFTUJCMF
4VJMMVTHSBOVMBUVT
DPNFTUJCMF
NFEJDJOBM
4VJMMVTMBDUJGMVVT
DPNFTUJCMF
$PQSJOVTDPNBUVT
DPNFTUJCMF
4VJMMVTTVCMVUFVT
DPNFTUJCMF
$ZBUIVTMJNCBUVT
NFEJDJOBM
4VJMMVTUPNFOUPTVT
DPNFTUJCMF
%BMEJOJBDPODFOUSJDB
NFEJDJOBM
5FSNJUPNZDFTBMCVNJOPTVT
DPNFTUJCMF
NFEJDJOBM
&OUPMPNBNJDSPDBSQVN
DPNFTUJCMF
5FSNJUPNZDFTDMZQFBUVT
DPNFTUJCMF
&WFSOJBQSVOBTUSJ
PUSPToQFSGVNF
5FSNJUPNZDFTNJDSPDBSQVT
DPNFTUJCMF
(BOPEFSNBMVDJEVN
NFEJDJOBM
5SBNFUFTBMCJEB
NFEJDJOBM
(FBTUSVNGJNCSJBUVN
DPNFTUJCMF
5SBNFUFTIJSTVUB
NFEJDJOBM
(FBTUSVNUSJQMFY
DPNFTUJCMF
5SBNFUFTPSJFOUBMJT
NFEJDJOBM
(FPQPSBTQ
DPNFTUJCMF
5SBNFUFTQVCFTDFOT
NFEJDJOBM
)FMWFMMBTQ
DPNFTUJCMF
5SBNFUFTWFSTJDPMPS
NFEJDJOBM
-BDUBSJVTEFUFSSJNVT
DPNFTUJCMF
5SFNFMMBGVDJGPSNJT
DPNFTUJCMF
NFEJDJOBM
-BDUBSJVTQSJODFQT
DPNFTUJCMF
-BOHFSNBOOJBHJHBOUFB
DPNFTUJCMF
-FOUJOVMBFEPEFT
DPNFTUJCMF
-FOUJOVTTBKPSDBKV
DPNFTUJCMF
5SJDIPMPNBJNCSJDBUVN
DPNFTUJCMF
5SJDIPMPNBQFTTVOEBUVN
DPNFTUJCMF
5SJDIPMPNBSVUJMBOT
<DPNFTUJCMF>
5ZMPQJMVTCBMMPVJJ
DPNFTUJCMF
7PMWBSJFMMBCPNCZDJOB
7PMWBSJFMMBTQFDJPTB
-FOUJOVTTVCOVEVT
DPNFTUJCMF
-FQJPUBNBTUPJEFB
DPNFTUJCMF
DPNFTUJCMF
NFEJDJOBM
-JNBDFMMBTQ
DPNFTUJCMF
DPNFTUJCMF
-ZDPQFSEPOQVTJMMVN
DPNFTUJCMF
7TQFDJPTBWBSHMPJPDFQIBMB <DPNFTUJCMF>
-ZDPQFSEPOQZSJGPSNF
DPNFTUJCMF
7PMWBSJFMMBWPMWBDFB
.BDSPDZCFHJHBOUFB
DPNFTUJCMF
.BDSPDZCFMPCBZFOTJT
DPNFTUJCMF
DPNFTUJCMF
NFEJDJOBM
8PMGJQPSJBFYUFOTB
DPNFTUJCMF
NFEJDJOBM
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
9FSPDPNVTDISZTFOUFSPO
DPNFTUJCMF
.BSBTNJVTTQ
DPNFTUJCMF
9FSPNQIBMJOBDBNQBOFMMB
DPNFTUJCMF
.JDSPQPSVTYBOUIPQVT
NFEJDJOBM
9FSVMBSBEJDBUB
DPNFTUJCMF
.PSDIFMMBBOHVTUJDFQT
DPNFTUJCMF
9ZMBSJBQPMZNPSQIB
NFEJDJOBM
.PSDIFMMBFTDVMFOUB
DPNFTUJCMF
.ZDFOBTUSVNDPSJVN
DPNFTUJCMF
1BSNPUSFNBTQ
PUSPToFTQFDJB
1FMUJHFSBDBOJOB
NFEJDJOBM
1IBMMVTJNQVEJDVT
NFEJDJOBM
1IFMMPSJOJBJORVJOBOT
DPNFTUJCMF
1MFVSPUVTFSZOHJJ
DPNFTUJCMF
1MFVSPUVTGPTTVMBUVT
DPNFTUJCMF
1MFVSPUVTPTUSFBUVT
DPNFTUJCMF
1PEBCSFMMBNJDSPDBSQB
DPNFTUJCMF
1PEBYJTQJTUJMMBSJT
DPNFTUJCMF
1PEPTDZQIBOJUJEVMB
DPNFTUJCMF
3GMBWPCSVOOFTDFOTWBS
BVSFB
BMJNFOUP
*/%*"
#JSLT#PSVBIFUBM4JOHIZ
3BXBU)BSTI5JXBSJZ3BJ1FHMFS
Z7BOIBFDLF1VSLBZBTUIBZ$IBOESB
3JDIBSETPO4BSLBS$IBLSBCPSUZ
Z#IBUUBDIBSKFF4IBSEB,BVTIBMZ/FHJ
4IBSNBZ%PTIJ
"HBSJDVTDBNQFTUSJT
DPNFTUJCMF
"NBOJUBWBHJOBUB
DPNFTUJCMF
"TUSBFVTIZHSPNFUSJDVT
DPNFTUJCMF
"VSJDVMBSJBEFMJDBUB
DPNFTUJCMF
#PMFUVTFEVMJT
DPNFTUJCMF
#PWJTUBBQFEJDFMMBUB
NFEJDJOBM
#PWJTUBHJHBOUFB
DPNFTUJCMF
$BMPDZCFJOEJDB
DPNFTUJCMF
$BMWBUJBDZBUIJGPSNJT
DPNFTUJCMF
3GMBWPCSVOOFTDFOTWBS
GPSNPTPJEFT
<DPNFTUJCMF>
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
DPNFTUJCMF
3GMBWPCSVOOFTDFOTWBS
UZQJDB
BMJNFOUP
$BOUIBSFMMVTGMPDDPTVT
3BNBSJBPCUVTJTTJNB
BMJNFOUP
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
3BNBSJBTBOEBSBDJOB
<DPNFTUJCMF>
#PMFUVTFSZUISPQVT
DPNFTUJCMF
3BNBSJBTBOHVJOFB
BMJNFOUP
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
3BNBSJBTVCCPUSZUJT
BMJNFOUP
&OUPMPNBDMZQFBUVN
DPNFTUJCMF
3VTTVMBEFMJDB
DPNFTUJCMF
-BDUBSJVTEFMJDJPTVT
BMJNFOUP
3VTTVMBEFOTJGPMJB
DPNFTUJCMF
-FQJTUBOVEB
BMJNFOUP
4DIJ[PQIZMMVNDPNNVOF
DPNFTUJCMF
-ZPQIZMMVNEFDBTUFT
BMJNFOUP
4DMFSPEFSNBSBEJDBOT
DPNFTUJCMF
1MFVSPUVTFSZOHJJ
BMJNFOUP
4DMFSPEFSNBWFSSVDPTVN
DPNFTUJCMF
4QBSBTTJTDSJTQB
DPNFTUJCMF
,&/:"
1FHMFSZ7BOIBFDLF3BNNFMPPZ
8BMMFZO8BMMFZOZ3BNNFMPP
5FSNJUPNZDFTBMCVNJOPTVT
DPNFTUJCMF
5FSNJUPNZDFTDMZQFBUVT
DPNFTUJCMF
5FSNJUPNZDFTFVSIJ[VT
DPNFTUJCMF
5FSNJUPNZDFTIFJNJJ
DPNFTUJCMF
5FSNJUPNZDFTNJDSPDBSQVT
DPNFTUJCMF
5FSNJUPNZDFTSBEJDBUVT
DPNFTUJCMF
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
5SJDIPMPNBTVMQIVSFVN
BMJNFOUP
5VCFSTQ
DPNFTUJCMF
7PMWBSJFMMBEJQMBTJB
DPNFTUJCMF
7PMWBSJFMMBUFSBTUSJB
"HBSJDVTDBNQFTUSJT
DPNFTUJCMF
$PQSJOVTTUFSRVJMJOVT
DPNFTUJCMF
&OHMFSPNZDFTHPFU[FJ
NFEJDJOBM
-BOHFSNBOOJBXBIMCFSHJJ
PUSPToNPSUBM
-JHOPTVTTBDFS
NFEJDJOBM
.BDSPMFQJPUBEPMJDIBVMB
DPNFTUJCMF
1IMFCPQVTTVEBOJDVT
<BMVDJOØHFOP>
1PEBYJTQJTUJMMBSJT
PUSPToNPSUBM
1TJMPDZCFNFSEBSJB
BMVDJOØHFOP
WFOFOPTP
DPNFTUJCMF
5FSNJUPNZDFTFVSIJ[VT
DPNFTUJCMF
7PMWBSJFMMBWPMWBDFB
DPNFTUJCMF
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
9ZMBSJBQPMZNPSQIB
NFEJDJOBM
,*3(6*45«/
&MDIJCBFW
*/%0/&4*"
#VSLIJMM%VDPVTTP#BZ5IPFO
"SNJMMBSJBNFMMFB
DPNFTUJCMF
"VSJDVMBSJBBVSJDVMBKVEBF
BMJNFOUPNFEJDJOBM
#PWJTUBQMVNCFB
DPNFTUJCMF
$BMWBUJBDBFMBUB
DPNFTUJCMF
$MJUPDZCFIZQPDBMBNVT
BMJNFOUP
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
.BSBTNJVTTQ
BMJNFOUP
$PQSJOVTBUSBNFOUBSJVT
DPNFTUJCMF
1PMZQPSVTHSBNNPDFQIBMVT
BMJNFOUP
$PQSJOVTDPNBUVT
<DPNFTUJCMF>
3VTTVMBTQ
DPNFTUJCMF
'MBNNVMJOBWFMVUJQFT
DPNFTUJCMF
4DMFSPEFSNBTQ
BMJNFOUP
(ZSPNJUSBFTDVMFOUB
<DPNFTUJCMF>
5FSNJUPNZDFTBMCVNJOPTVT
BMJNFOUP
-BDUBSJVTEFMJDJPTVT
DPNFTUJCMF
*3"2
"M/BBNB&XB[FZ/FNB"MTIFJLIZ
5SBQQF
-BFUJQPSVTTVMQIVSFVT
DPNFTUJCMF
-FDDJOVNTDBCSB
DPNFTUJCMF
5FSGF[JBDMBWFSZJ
DPNFTUJCMF
-FQJTUBOVEB
DPNFTUJCMF
5JSNBOJBOJWFB
DPNFTUJCMF
-ZDPQFSEPOHFNNBUVN
DPNFTUJCMF
5JSNBOJBQJOPZJ
DPNFTUJCMF
-ZDPQFSEPOQZSJGPSNF
DPNFTUJCMF
.BDSPMFQJPUBFYDPSJBUB
DPNFTUJCMF
*43"&8BTTFS
.PSDIFMMBDPOJDB
DPNFTUJCMF
1MFVSPUVTFSZOHJJWBS
GFSVMBF
DPNFTUJCMF
.PSDIFMMBJOUFSNFEJB
DPNFTUJCMF
4VJMMVTHSBOVMBUVT
DPNFTUJCMF
1BYJMMVTBUSPUPNFOUPTVT
DPNFTUJCMF
DPNFTUJCMF
1MFVSPUVTFSZOHJJ
DPNFTUJCMF
1MFVSPUVTPTUSFBUVT
DPNFTUJCMF
1PMZQPSVTTRVBNPTVT
DPNFTUJCMF
7PMWBSJFMMBTQFDJPTB
+".")*3*:"«3"#&-*#*"
"MTIFJLIZ5SBQQF
5JSNBOJBOJWFB
DPNFTUJCMF
1UZDIPWFSQBCPIFNJDB
DPNFTUJCMF
5JSNBOJBQJOPZJ
DPNFTUJCMF
3BNBSJBGMBWB
DPNFTUJCMF
+03%"/*"
&SFJGFKZ"M3BEEBE4BCSBZ8BMUFS
3VTTVMBBFSVHJOFB
DPNFTUJCMF
3VTTVMBEFMJDB
DPNFTUJCMF
"HBSJDVTDBNQFTUSJT
BMJNFOUP
3VTTVMBOJUJEB
DPNFTUJCMF
#PMFUVTBFTUJWBMJT
BMJNFOUP
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
3VTTVMBPMJWBTDFOT
DPNFTUJCMF
-FO[JUFTQBMJTPUJ
<DPNFTUJCMF>
3VTTVMBSPTBDFB
DPNFTUJCMF
-FQJPUBBTQFSB
<DPNFTUJCMF>
3VTTVMBTBSEPOJB
DPNFTUJCMF
-FQJPUBJNFSJOFOTJT
<DPNFTUJCMF>
4BSDPEPOJNCSJDBUVT
DPNFTUJCMF
-FQJPUBNBEBHBTDBSJFOTJT
<DPNFTUJCMF>
4DMFSPEFSNBDJUSJOVN
<DPNFTUJCMF>
-FQJPUBNBEJSPLFMFOTJT
DPNFTUJCMF
5SJDIPMPNBQPSUFOUPTVN
DPNFTUJCMF
-FQJPUBSBCBSJKBOPOBF
<DPNFTUJCMF>
-FQJPUBSPTFPBMCB
<DPNFTUJCMF>
-FVDPDPQSJOVTCBEIBNJJ
<DPNFTUJCMF>
-FVDPDPQSJOVTJNFSJOFOTJT
DPNFTUJCMF
-FVDPDPQSJOVTOBOJBOBF
DPNFTUJCMF
-FVDPDPQSJOVTUBOFUFOTJT
DPNFTUJCMF
-ZDPQFSEPOFOEPUFQISVN
DPNFTUJCMF
-ZTVSVTQFSJQISBHNPJEFT
<DPNFTUJCMF>
.BDSPDZCFTQFDUBCJMJT
DPNFTUJCMF
.BDSPMFQJPUBFYDPSJBUB
<DPNFTUJCMF>
.FYDPSJBUBWBSSVCFTDFOT
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
<DPNFTUJCMF>
.QSPDFSBWBSWF[P
DPNFTUJCMF
.JDSPQPSVTTBOHVJOFVT
<DPNFTUJCMF>
.PSDIFMMBJOUFSNFEJB
DPNFTUJCMF
.VUJOVTCBNCVTJOVT
<DPNFTUJCMF>
1IBFPMVTNBOJIPUJT
<DPNFTUJCMF>
1IBMMVTBSNFOJBDVT
<DPNFTUJCMF>
1IBMMVTJNQVEJDVT
<DPNFTUJCMF>
1IMFCPQVTDPMPTTVT
DPNFTUJCMF
1MFVSPUVTEBDUZMPQIPSVT
<DPNFTUJCMF>
1PEBYPOUFSNJUPQIJMVT
<DPNFTUJCMF>
1PMZQPSVTDSPDFPMFVDVT
<DPNFTUJCMF>
1PMZTUJDUVTTQ
<DPNFTUJCMF>
3BNBSJBTUSJDUB
<DPNFTUJCMF>
3PDDFMMBTQ
PUSPToNPSUBM
3VTTVMBDZBOPYBOUIB
<DPNFTUJCMF>
,68"*5
"MTIFJLI:5SBQQF
5JSNBOJBOJWFB
DPNFTUJCMF
5JSNBOJBQJOPZJ
BMJNFOUPNFEJDJOBM
-&405)0
3BNNFMPPZ8BMMFZO
5FSNJUPNZDFT
DPNFTUJCMF
."%"("4$"3
#PVSJRVFU%VDPVTTP#BZ5IPFO
3BNNFMPPZ8BMMFZO3JDIBSETPO
8BMMFZOZ3BNNFMPP
"HBSJDVTDBNQFTUSJT
DPNFTUJCMF
"HBSJDVTTJMWJDPMB
<DPNFTUJCMF>
"NBOJUBIPWBF
DPNFTUJCMF
"NBOJUBSPCVTUB
<DPNFTUJCMF>
"NBOJUBWBHJOBUB
<DPNFTUJCMF>
"OUIVSVTQFOUVMVT
<DPNFTUJCMF>
"SNJMMBSJBIFJNJJ
<DPNFTUJCMF>
"SNJMMBSJFMMBFMFHBOT
<DPNFTUJCMF>
"TFSPÑTQ
<DPNFTUJCMF>
"VSJDVMBSJBBVSJDVMBKVEBF
<DPNFTUJCMF>
#PMFUVTCPVSJRVFUJ
<DPNFTUJCMF>
#PMFUVTDPMPTTVT
<DPNFTUJCMF>
$BOUIBSFMMVTDJCBSJVT
<DPNFTUJCMF>
$BOUIBSFMMVTDZBOPYBOUIVT
<DPNFTUJCMF>
$BOUIBSFMMVTFVDBMZQUPSVN
BMJNFOUP
$BOUIBSFMMVT
NBEBHBTDBSJFOTJT
<DPNFTUJCMF>
$IMPSPQIZMMVN
NBEBHBTDBSJFOTF
DPNFTUJCMF
3VTTVMBNBEBHBTTFOTJT
DPNFTUJCMF
$IMPSPQIZMMVNNPMZCEJUFT
DPNFTUJCMF
4DIJ[PQIZMMVNDPNNVOF
DPNFTUJCMF
$MBUISVTNBEBHBTDBSJFOTJT
<DPNFTUJCMF>
4USPCJMPNZDFT
<DPNFTUJCMF>
$MBWBSJBNJOJBUB
<DPNFTUJCMF>
4USPCJMPNZDFTDPUVSOJY
DPNFTUJCMF
$PMMZCJBUBNBUBWBF
DPNFTUJCMF
4VJMMVTHSBOVMBUVT
DPNFTUJCMF
$PSUJOBSJVTMBSHVT
DPNFTUJCMF
5FSGF[JBEFDBSZJ
<DPNFTUJCMF>
$ZBUIVTTUFSDPSFVT
<DPNFTUJCMF>
5SJDIPMPNBTDBCSVN
DPNFTUJCMF
(BMJFMMBKBWBOJDB
NFEJDJOBM
7PMWBSJFMMBFTDVMFOUB
<DPNFTUJCMF>
(BOPEFSNBMVDJEVN
<DPNFTUJCMF>
7PMWBSJFMMBWPMWBDFB
DPNFTUJCMF
(FBTUSVNGJNCSJBUVN
<DPNFTUJCMF>
9FSPDPNVTDISZTFOUFSPO
<DPNFTUJCMF>
*OPDZCF
<DPNFTUJCMF>
9FSPDPNVTWFSTJDPMPS
DPNFTUJCMF
*OPDZCFUVMFBSFOTJT
<DPNFTUJCMF>
-BDDBSJBFEVMJT
DPNFTUJCMF
."-"4*"
#VSLIJMM1FHMFSZ7BOIBFDLF
-BDUBSJVTSVCSPWJPMBTDFOT
<DPNFTUJCMF>
-FOUJOVTCFSUFSJ
<DPNFTUJCMF>
-FOUJOVTUVCFSSFHJVN
DPNFTUJCMF
NFEJDJOBM
5FSNJUPNZDFTBMCVNJOPTVT
BMJNFOUP
5FSNJUPNZDFTDMZQFBUVT
DPNFTUJCMF
5FSNJUPNZDFTFOUPMPNPJEFT
DPNFTUJCMF
5FSNJUPNZDFTFVSIJ[VT
DPNFTUJCMF
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
5FSNJUPNZDFTIFJNJJ
DPNFTUJCMF
1FSFOOJQPSJBNVOEVMB
NFEJDJOBM
5FSNJUPNZDFTNJDSPDBSQVT
DPNFTUJCMF
1IMFCPQVTDPMPTTVT
DPNFTUJCMF
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
1IMFCPQVTTVEBOJDVT
DPNFTUJCMF
."-"8*
3BNNFMPPZ8BMMFZO
8BMMFZOZ3BNNFMPPWFBUBNCJÏO
XXXNBMBXJGVOHJPSH
1PMZQPSVTCSBTJMJFOTJT
DPNFTUJCMF
1PMZQPSVTNPMVDDFOTJT
DPNFTUJCMF
1TBUIZSFMMBBUSPVNCPOBUB
<DPNFTUJCMF>
"GSPCPMFUVTDPTUBUJTQPSVT
DPNFTUJCMF
1TBUIZSFMMBDBOEPMMFBOB
DPNFTUJCMF
"GSPCPMFUVTMVUFPMVT
DPNFTUJCMF
1VMWFSPCPMFUVTBCFSSBOT
DPNFTUJCMF
"HBSJDVTCJOHFOTJT
DPNFTUJCMF
1ZDOPQPSVTTBOHVJOFVT
DPNFTUJCMF
"HBSJDVTDBNQFTUSJT
DPNFTUJCMF
DPNFTUJCMF
"HBSJDVTDSPDFPMVUFTDFOT
DPNFTUJCMF
3VCJOPCPMFUVT
MVUFPQVSQVSFVT
3VTTVMBBGSPOJHSJDBOT
DPNFTUJCMF
"HBSJDVTFOEPYBOUIVT
DPNFTUJCMF
3VTTVMBDZBOPYBOUIB
DPNFTUJCMF
"NBOJUBCJOHFOTJT
DPNFTUJCMF
3VTTVMBEFMJDB
DPNFTUJCMF
"NBOJUBDBMPQVT
DPNFTUJCMF
3VTTVMBPDISPMFVDB
DPNFTUJCMF
"NBOJUBGMBNNFPMB
DPNFTUJCMF
3VTTVMBSPTFB
DPNFTUJCMF
"NBOJUBGVMWB
DPNFTUJCMF
3VTTVMBTDIJ[PEFSNB
DPNFTUJCMF
"NBOJUBHPPTFOTJBF
DPNFTUJCMF
4DIJ[PQIZMMVNDPNNVOF
DPNFTUJCMF
"NBOJUBIFNJCBQIB
DPNFTUJCMF
4UFSFPQTJTIJTDFOT
DPNFTUJCMF
"NBOJUBNVTDBSJB
BMVDJOØHFOP
WFOFOPTP
4VJMMVTHSBOVMBUVT
DPNFTUJCMF
"NBOJUBQSBFDMBSB
<DPNFTUJCMF>
JOTFDUJDJEB
4VJMMVTMVUFVT
DPNFTUJCMF
"NBOJUBSIPEPQIZMMB
DPNFTUJCMF
5FSNJUPNZDFTBVSBOUJBDVT
DPNFTUJCMF
5FSNJUPNZDFTDMZQFBUVT
DPNFTUJCMF
5FSNJUPNZDFTFVSIJ[VT
DPNFTUJCMF
5FSNJUPNZDFTNJDSPDBSQVT
DPNFTUJCMF
5FSNJUPNZDFTSPCVTUVT
DPNFTUJCMF
5FSNJUPNZDFTTDIJNQFSJ
DPNFTUJCMF
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
5FSNJUPNZDFTUJUBOJDVT
DPNFTUJCMF
5SPHJBJOGVOEJCVMJGPSNJT
<DPNFTUJCMF>
5VCPTBFUBCSVOOFPTFUPTB
DPNFTUJCMF
7BTDFMMVNQSBUFOTF
DPNFTUJCMF
7PMWBSJFMMBWPMWBDFB
DPNFTUJCMF
9FSPDPNVTQBMMJEPTQPSVT
DPNFTUJCMF
9FSPDPNVTTPZFSJ
DPNFTUJCMF
9FSVMBSBEJDBUB
DPNFTUJCMF
"NBOJUBSPCVTUB
DPNFTUJCMF
"NBOJUBSVCFTDFOT
DPNFTUJCMF
"NBOJUBWBHJOBUB
DPNFTUJCMF
"NBOJUB[BNCJBOB
DPNFTUJCMF
"VSJDVMBSJBBVSJDVMBKVEBF
DPNFTUJCMF
"VSJDVMBSJBEFMJDBUB
DPNFTUJCMF
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
$BOUIBSFMMVTDPOHPMFOTJT
DPNFTUJCMF
$BOUIBSFMMVTMPOHJTQPSVT
DPNFTUJCMF
$BOUIBSFMMVTUFOVJT
DPNFTUJCMF
$MBWBSJBBMCJSBNFB
DPNFTUJCMF
$PMMZCJBDPOGMVFOT
DPNFTUJCMF
$PMMZCJBESZPQIJMB
DPNFTUJCMF
$PQSJOVTEJTTFNJOBUVT
DPNFTUJCMF
$ZNBUPEFSNBEFOESJUJDVN
DPNFTUJCMF
(ZSPQPSVTDBTUBOFVT
DPNFTUJCMF
*OPDZCF
<DPNFTUJCMF>
-BDUBSJVTHZNOPDBSQVT
DPNFTUJCMF
-BDUBSJVTQJQFSBUVT
DPNFTUJCMF
-BDUBSJVTWFMMFSFVT
DPNFTUJCMF
-FOUJOVTDMBEPQVT
DPNFTUJCMF
-FOUJOVTTRVBSSVMPTVT
DPNFTUJCMF
-FQJTUBDBGGSPSVN
DPNFTUJCMF
.BDSPDZCFMPCBZFOTJT
DPNFTUJCMF
.BDSPMFQJPUBEPMJDIBVMB
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
.JDSPQTBMMJPUB
CSVOOFPTQFSNB
DPNFTUJCMF
."336&$04
"MTIFJLIZ5SBQQF,ZUPWVPSJ
.PSFOP"SSPZPFUBM3JDIBSETPO
'"0C
"HBSJDVTCJTQPSVT
DPNFTUJCMF
#PMFUVTFEVMJT
DPNFTUJCMF
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
&WFSOJBQSVOBTUSJ
PUSPToQFSGVNF
.PSDIFMMBTQ
DPNFTUJCMF
1MFVSPUVTPTUSFBUVT
DPNFTUJCMF
1TFVEFWFSOJBGVSGVSBDFB
PUSPToQFSGVNF
5FSGF[JBMFPOJT
DPNFTUJCMF
5JSNBOJBOJWFB
DPNFTUJCMF
5SJDIPMPNBDBMJHBUVN
DPNFTUJCMF
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
5SJDIPMPNBOBVTFPTVN
DPNFTUJCMF
5VCFSPMJHPTQFSNVN
DPNFTUJCMF
"NBOJUBNVTDBSJB
NFEJDJOBM
JOTFDUJDJEB
"NBOJUBSVCFTDFOT
BMJNFOUP
."63*$*0
3BNNFMPPZ8BMMFZO8BMMFZOZ
3BNNFMPP
"NBOJUBUV[B
BMJNFOUP
"NBOJUBVNCPOBUB
BMJNFOUP
$PQSJOVTDBTUBOFVT
DPNFTUJCMF
"NBOJUBWBHJOBUB
BMJNFOUP
.BDSPDZCFTQFDUBCJMJT
<DPNFTUJCMF>
"SBDIOJPOBMCVN
BMJNFOUP
1TFVEPIZEOVNHFMBUJOPTVN DPNFTUJCMF
"SNJMMBSJBMVUFPWJSFOT
BMJNFOUP
5SJDIPMPNBNBVSJUJBOVN
DPNFTUJCMF
"SNJMMBSJBNFMMFB
BMJNFOUP
7PMWBSJFMMBWPMWBDFB
DPNFTUJCMF
"SNJMMBSJBPTUPZBF
BMJNFOUP
.²9*$0
-ØQF[$SV[Z;BNPSB.BSUÓOF[.BUB
.POUPZB&TRVJWFM.POUPZB
&TRVJWFMFUBM.PSFOP'VFOUFTFU
BM3JDIBSETPO7JMMBSSFBMZ
1ÏSF[.PSFOPXXXTFNBSOBUHPCNY
;BNPSB.BSUÓOF["MWBSBEPZ%PNÓOHVF[
;BNPSB.BSUÓOF[3FZHBEBTZ$JGVFOUFT
"SNJMMBSJBUBCFTDFOT
BMJNFOUP
"VSJDVMBSJBBVSJDVMBKVEBF
DPNFTUJCMF
"VSJDVMBSJBEFMJDBUB
DPNFTUJCMF
"VSJDVMBSJBGVTDPTVDDJOFB
DPNFTUJCMF
"VSJDVMBSJBNFTFOUFSJDB
DPNFTUJCMF
"HBSJDVTBSWFOTJT
BMJNFOUP
"VSJDVMBSJBQPMZUSJDIB
DPNFTUJCMF
"HBSJDVTBVHVTUVT
BMJNFOUP
#PMFUFMMVTBOBOBT
BMJNFOUP
"HBSJDVTCJTQPSVTWBS
BMCJEVT
DPNFTUJCMF
#PMFUFMMVTCFUVMB
BMJNFOUP
#PMFUFMMVTSVTTFMMJJ
BMJNFOUP
"HBSJDVTCJTQPSVTWBS
CJTQPSVT
DPNFTUJCMF
#PMFUJOVTMBLFJ
DPNFTUJCMF
"HBSJDVTCJUPSRVJT
BMJNFOUP
#PMFUVTBFTUJWBMJT
BMJNFOUP
"HBSJDVTDBNQFTUSJT
BMJNFOUP
#PMFUVTBULJOTPOJJ
DPNFTUJCMF
"HBSJDVTDPNUVMVT
BMJNFOUP
#PMFUVTCBSSPXTJJ
DPNFTUJCMF
"HBSJDVTFTTFUUFJ
BMJNFOUP
#PMFUVTCJDPMPSPJEFT
BMJNFOUP
"HBSJDVTGVTDPGJCSJMMPTVT
BMJNFOUP
#PMFUVTFEVMJT
BMJNFOUP
"HBSJDVTJNQVEJDVT
BMJNFOUP
#PMFUVTFSZUISPQVT
BMJNFOUP
"HBSJDVTQMBDPNZDFT
DPNFTUJCMF
#PMFUVTGFMMFVT
DPNFTUJCMF
"HBSJDVTTJMWBUJDVT
BMJNFOUP
#PMFUVTGSPTUJJ
BMJNFOUP
"HBSJDVTTJMWJDPMB
BMJNFOUP
#PMFUVTMVSJEJGPSNJT
DPNFTUJCMF
"TRVBNVMJGFSVTWBSDBSPMJ
BMJNFOUP
#PMFUVTMVSJEVT
DPNFTUJCMF
"HBSJDVTTVCQFSPOBUVT
BMJNFOUP
#PMFUVTNJDIPBDBOVT
BMJNFOUP
"HBSJDVTTVCSVUJMFTDFOT
BMJNFOUP
#PMFUVTQJOJDPMB
BMJNFOUP
"HSPDZCFWFSWBDUJ
DPNFTUJCMF
#PMFUVTQJOPQIJMVT
BMJNFOUP
"MCBUSFMMVTPWJOVT
BMJNFOUP
#PMFUVTSFHJVT
DPNFTUJCMF
"MFVSJBBVSBOUJB
DPNFTUJCMF
#PMFUVTSFUJDVMBUVT
BMJNFOUP
"NBOJUBDBFTBSFB
BMJNFOUP
#PMFUVTWBSJJQFT
BMJNFOUP
"DBFTBSFBGTQBNFSJDBOB
BMJNFOUP
BMJNFOUP
"NBOJUBDBMZQUSBUPJEFT
DPNFTUJCMF
#PWJTUBQMVNCFBWBS
PWBMJTQPSB
$IBMDJQPSVTQJQFSBUVT
DPNFTUJCMF
"NBOJUBDBMZQUSPEFSNB
DPNFTUJCMF
$BMWBUJBDZBUIJGPSNJT
BMJNFOUP
"NBOJUBDFDJMJBF
BMJNFOUP
$BNBSPQIZMMVTQSBUFOTJT
DPNFTUJCMF
"NBOJUBDSPDFB
BMJNFOUP
$BOUIBSFMMVMBVNCPOBUB
DPNFTUJCMF
"NBOJUBGMBWJWPMWB
<DPNFTUJCMF>
NFEJDJOBM
JOTFDUJDJEB
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
$BOUIBSFMMVTPEPSBUVT
BMJNFOUP
"NBOJUBGMBWPDPOJB
BMJNFOUP
$BOUIBSFMMVTUVCJGPSNJT
BMJNFOUP
"NBOJUBGMBWPSVCFTDFOT
DPNFTUJCMF
$IMPSPQIZMMVNNPMZCEJUFT
DPNFTUJCMF
"NBOJUBGVMWB
BMJNFOUP
$ISPPHPNQIVTKBNBJDFOTJT
BMJNFOUP
"NBOJUBHFNNBUB
DPNFTUJCMF
$ISPPHPNQIVTSVUJMVT
BMJNFOUP
"NBOJUBJOBVSBUB
BMJNFOUP
$ISPPHPNQIVTWJOJDPMPS
BMJNFOUP
$MBWBSJBWFSNJDVMBSJT
BMJNFOUP
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
)FCFMPNBGBTUJCJMF
BMJNFOUP
BMJNFOUP
)FCFMPNBNFTPQIBFVN
BMJNFOUP
$MBWBSJBEFMQIVTUSVODBUVT
BMJNFOUP
)FMWFMMBBDFUBCVMVN
BMJNFOUP
$MBWBSJBEFMQIVTVOJDPMPS
BMJNFOUP
)FMWFMMBDSJTQB
BMJNFOUP
$MBWJDPSPOBQZYJEBUB
BMJNFOUP
)FMWFMMBFMBTUJDB
BMJNFOUP
$MBWVMJOBDJOFSFB
BMJNFOUP
)FMWFMMBJOGVMB
BMJNFOUP
$MBWVMJOBDSJTUBUB
DPNFTUJCMF
)FMWFMMBMBDVOPTB
BMJNFOUP
$MBWVMJOBSVHPTB
DPNFTUJCMF
)FSJDJVNDBQVUVSTJ
DPNFTUJCMF
$MJNBDPDZTUJTCPSFBMJT
DPNFTUJCMF
)FSJDJVNDPSBMMPJEFT
DPNFTUJCMF
$MJUPDZCFDMBWJQFT
BMJNFOUP
)FSJDJVNFSJOBDFVT
BMJNFOUP
$MJUPDZCFHJCCB
BMJNFOUPNFEJDJOBM
)PIFOCVFIFMJBQFUBMPJEFT
DPNFTUJCMF
$MJUPDZCFOFCVMBSJT
BMJNFOUP
)ZEOPQPMZQPSVTGJNCSJBUVT
DPNFTUJCMF
$MJUPDZCFPEPSB
DPNFTUJCMF
)ZEOPQPMZQPSVTQBMNBUVT
BMJNFOUP
$MJUPDZCFTRVBNVMPTB
DPNFTUJCMF
)ZEOVNSFQBOEVN
BMJNFOUP
$MJUPDZCFTVBWFPMFOT
BMJNFOUP
)ZHSPDZCFOJHSFTDFOT
BMJNFOUP
$MJUPQJMVTQSVOVMVT
BMJNFOUP
)ZHSPQIPSPQTJTBVSBOUJBDB
BMJNFOUP
$PMMZCJBBDFSWBUB
DPNFTUJCMF
)ZHSPQIPSVTDISZTPEPO
BMJNFOUP
$PMMZCJBCVUZSBDFB
BMJNFOUP
)ZHSPQIPSVTOJWFVT
BMJNFOUP
$PMMZCJBDPOGMVFOT
BMJNFOUP
)ZHSPQIPSVTQVSQVSBTDFOT
BMJNFOUP
$PMMZCJBESZPQIJMB
BMJNFOUP
)ZHSPQIPSVTSVTTVMB
BMJNFOUP
$PMMZCJBQPMZQIZMMB
DPNFTUJCMF
)ZQPNZDFTMBDUJGMVPSVN
BMJNFOUP
$PPLFJOBTVMDJQFT
DPNFTUJCMF
)ZQPNZDFTNBDSPTQPSVT
DPNFTUJCMF
$PPLFJOBUSJDIPMPNB
DPNFTUJCMF
-BDDBSJBBNFUIZTUJOB
BMJNFOUP
$PQSJOVTDPNBUVT
DPNFTUJCMF
-BDDBSJBCJDPMPS
BMJNFOUP
$PSUJOBSJVTHMBVDPQVT
BMJNFOUP
-BDDBSJBGBSJOBDFB
DPNFTUJCMF
$SBUFSFMMVTDPSOVDPQJPJEFT
BMJNFOUP
-BDDBSJBMBDDBUB
BMJNFOUP
$SBUFSFMMVTGBMMBY
BMJNFOUP
-BDDBSJBQSPYJNB
BMJNFOUP
$SPOBSUJVNDPOJHFOVN
DPNFTUJCMF
-BDDBSJBTDSPCJDVMBUVT
DPNFTUJCMF
%BMEJOJBDPODFOUSJDB
NFEJDJOBM
-BDUBSJVTDBSCPOJDPMB
DPNFTUJCMF
&OUFSJEJVNMZDPQFSEPO
DPNFTUJCMF
-BDUBSJVTEFMJDJPTVT
BMJNFOUP
&OUPMPNBBCPSUJWVN
BMJNFOUP
-BDUBSJVTJOEJHP
BMJNFOUP
&OUPMPNBDMZQFBUVN
BMJNFOUP
-BDUBSJVTQJQFSBUVT
BMJNFOUP
'BWPMVTBMWFPMBSJVT
DPNFTUJCMF
-BDUBSJVTTBMNPOJDPMPS
BMJNFOUP
'BWPMVTCSBTJMJFOTJT
DPNFTUJCMF
-BDUBSJVTTBOHVJGMVVT
DPNFTUJCMF
'MBNNVMJOBWFMVUJQFT
BMJNFOUP
-BDUBSJVTTDSPCJDVMBUVT
BMJNFOUP
'PNJUPQTJTQJOJDPMB
NFEJDJOBM
-BDUBSJVTTVCEVMDJT
DPNFTUJCMF
'VMJHPTFQUJDB
DPNFTUJCMF
-BDUBSJVTWFMMFSFVT
DPNFTUJCMF
(BOPEFSNBMPCBUVN
NFEJDJOBM
-BDUBSJVTWPMFNVT
BMJNFOUP
(BVUJFSJBNFYJDBOB
DPNFTUJCMF
-BDUBSJVTZB[PPFOTJT
BMJNFOUP
(FBTUSVNTBDDBUVN
NFEJDJOBM
-BFUJQPSVTTVMQIVSFVT
BMJNFOUP
(FBTUSVNUSJQMFY
BMJNFOUP
NFEJDJOBM
-BOHFSNBOOJBHJHBOUFB
BMJNFOUPNFEJDJOBM
(PNQIJEJVTHMVUJOPTVT
DPNFTUJCMF
-FDDJOVNBVSBOUJBDVN
BMJNFOUP
(PNQIVTDMBWBUVT
BMJNFOUP
-FDDJOVNDISPNBQFT
DPNFTUJCMF
(PNQIVTGMPDDPTVT
BMJNFOUP
-FDDJOVNSVHPTJDFQT
DPNFTUJCMF
(PNQIVTLBVGGNBOJJ
BMJNFOUP
-FOUJOVMBCPSZBOB
BMJNFOUP
(ZSPEPONFSVMJPJEFT
DPNFTUJCMF
-FOUJOVTDPODIBUVT
DPNFTUJCMF
(ZSPNJUSBJOGVMB
BMJNFOUP
-FQJPUBBTQFSB
DPNFTUJCMF
(ZSPQPSVTDBTUBOFVT
DPNFTUJCMF
-FQJPUBDMZQFPMBSJB
DPNFTUJCMF
$MBWBSJBEFMQIVTDPLFSJ
BMJNFOUP
$MBWBSJBEFMQIVTQJTUJMMBSJT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
1TJMPDZCF[BQPUFDPSVN
DPNFTUJCMF
BMVDJOØHFOP
BMJNFOUP
1ZDOPQPSVTTBOHVJOFVT
NFEJDJOBM
DPNFTUJCMF
3BNBMJOBFDLMPOJJ
DPNFTUJCMF
-ZDPQFSEPODBOEJEVN
DPNFTUJCMF
3BNBSJBBVSFB
BMJNFOUP
-ZDPQFSEPONBSHJOBUVN
DPNFTUJCMF
3BNBSJBCPOJJ
DPNFTUJCMF
-ZDPQFSEPOPCMPOHJTQPSVN
DPNFTUJCMF
3BNBSJBCPUSZUJT
BMJNFOUP
-ZDPQFSEPOQFDLJJ
BMJNFOUP
3BNBSJBCPUSZUPJEFT
DPNFTUJCMF
-ZDPQFSEPOQFSMBUVN
BMJNFOUP
3BNBSJBDZTUJEJPQIPSB
DPNFTUJCMF
-ZDPQFSEPOQZSJGPSNF
BMJNFOUP
3BNBSJBGMBWB
DPNFTUJCMF
-ZDPQFSEPOSJNVMBUVN
DPNFTUJCMF
3BNBSJBGMBWPCSVOOFTDFOT
BMJNFOUP
-ZDPQFSEPOVNCSJOVN
BMJNFOUP
3BNBSJBSPTFMMB
DPNFTUJCMF
-VNCSJOVNWBSGMPDDPTVN
DPNFTUJCMF
3BNBSJBSVCJHJOPTB
BMJNFOUP
-ZPQIZMMVNEFDBTUFT
BMJNFOUP
3BNBSJBSVCSJQFSNBOFOT
BMJNFOUP
-ZPQIZMMVNPWJTQPSVN
BMJNFOUP
3BNBSJBTBOHVJOFB
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
3BNBSJBTUSJDUB
DPNFTUJCMF
.BDSPQPEJBNBDSPQVT
BMJNFOUP
3IJ[PQPHPO
BMJNFOUP
.BSBTNJVTBMCPHSJTFVT
DPNFTUJCMF
3IPEPQIZMMVTDMZQFBUVT
BMJNFOUP
.BSBTNJVTPSFBEFT
BMJNFOUP
3PDDFMMB
PUSPToNPSUBM
.FMBOPMFVDBFWFOPTB
DPNFTUJCMF
3P[JUFTDBQFSBUVT
BMJNFOUP
.FMBOPMFVDBHSBNNPQPEJB
DPNFTUJCMF
3VTTVMBBDJDVMPDZTUJT
DPNFTUJCMF
.FMBOPMFVDBNFMBMFVDB
DPNFTUJCMF
3VTTVMBBMVUBDFB
BMJNFOUP
.FSVMJVTJODBSOBUVT
BMJNFOUP
3VTTVMBCSFWJQFT
BMJNFOUP
.PSDIFMMBBOHVTUJDFQT
DPNFTUJCMF
3VTTVMBDZBOPYBOUIB
BMJNFOUP
.PSDIFMMBDPOJDB
BMJNFOUP
3VTTVMBEFMJDB
BMJNFOUP
.PSDIFMMBDPTUBUB
DPNFTUJCMF
3VTTVMBEFOTJGPMJB
DPNFTUJCMF
.PSDIFMMBDSBTTJQFT
BMJNFOUP
3VTTVMBFNFUJDB
DPNFTUJCMF
.PSDIFMMBFMBUB
BMJNFOUP
3VTTVMBMFQJEB
BMJNFOUP
.PSDIFMMBFTDVMFOUB
BMJNFOUP
3VTTVMBMVUFB
BMJNFOUP
.ZDFOBQVSB
BMJNFOUP
3VTTVMBNBDSPQPEB
DPNFTUJCMF
/FPMFOUJOVTMFQJEFVT
DPNFTUJCMF
3VTTVMBNBSJBF
BMJNFOUP
/FPMFOUJOVTQPOEFSPTVT
BMJNFOUP
3VTTVMBNFYJDBOB
DPNFTUJCMF
0VEFNBOTJFMMBDBOBSJJ
BMJNFOUP
3VTTVMBOJHSJDBOT
BMJNFOUP
1BOVTDSJOJUVT
DPNFTUJCMF
3VTTVMBPMJWBDFB
BMJNFOUP
1BYJOBBDFUBCVMVN
BMJNFOUP
3VTTVMBPSOBUJDFQT
DPNFTUJCMF
1F[J[BCBEJB
BMJNFOUP
3VTTVMBRVFMFUJJ
DPNFTUJCMF
1IPMJPUBMFOUB
BMJNFOUP
3VTTVMBSPNBHOFTJBOB
BMJNFOUP
1MFVSPUVTDPSOVDPQJBF
DPNFTUJCMF
3VTTVMBSVCSPBMCB
DPNFTUJCMF
1MFVSPUVTEKBNPS
BMJNFOUP
3VTTVMBWFTDB
DPNFTUJCMF
1MFVSPUVTESZJOVT
BMJNFOUP
3VTTVMBYFSBNQFMJOB
BMJNFOUP
1MFVSPUVTMFWJT
BMJNFOUP
4BSDPEPOJNCSJDBUVT
BMJNFOUP
1MFVSPUVTPTUSFBUPSPTFVT
DPNFTUJCMF
4BSDPTDZQIBDPDDJOFB
BMJNFOUP
1MFVSPUVTPTUSFBUVT
BMJNFOUP
NFEJDJOBM
4BSDPTQIBFSBFYJNJB
BMJNFOUP
4DIJ[PQIZMMVNDPNNVOF
DPNFTUJCMF
4DIJ[PQIZMMVNGBTDJBUVN
DPNFTUJCMF
4QBSBTTJTDSJTQB
BMJNFOUP
4USPCJMPNZDFTDPOGVTVT
DPNFTUJCMF
4USPCJMPNZDFTGMPDDPQVT
BMJNFOUP
4USPQIBSJBDPSPOJMMB
BMJNFOUP
4VJMMVTBDJEVT
DPNFTUJCMF
-FQJTUBJSJOB
DPNFTUJCMF
-FQJTUBOVEB
-FQJTUBQFSTPOBUB
1MFVSPUVTTNJUIJJ
DPNFTUJCMF
1MVUFVTBVSBOUJPSVHPTVT
BMJNFOUP
1MVUFVTDFSWJOVT
BMJNFOUP
1PHPOPNZDFTIZEOPJEFT
BMJNFOUP
1TBUIZSFMMBTQBEJDFB
DPNFTUJCMF
1TFVEPIZEOVNHFMBUJOPTVN DPNFTUJCMF
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
4VJMMVTBNFSJDBOVT
BMJNFOUP
4VJMMVTCSFWJQFT
BMJNFOUP
.JDSPQTBMMJPUB
CSVOOFPTQFSNB
BMJNFOUP
4VJMMVTDBWJQFT
BMJNFOUP
1IMFCPQVTDPMPTTVT
BMJNFOUP
1TBUIZSFMMBDBOEPMMFBOB
4VJMMVTHSBOVMBUVT
BMJNFOUP
BMJNFOUP
4VJMMVTIJSUFMMVT
BMJNFOUP
4DIJ[PQIZMMVNDPNNVOF
BMJNFOUP
5FSNJUPNZDFT
4VJMMVTMVUFVT
BMJNFOUP
BMJNFOUP
4VJMMVTQTFVEPCSFWJQFT
BMJNFOUP
5FSNJUPNZDFTDMZQFBUVT
BMJNFOUP
5FSNJUPNZDFTFVSIJ[VT
4VJMMVTUPNFOUPTVT
BMJNFOUP
BMJNFOUP
5FQISPDZCFBUSBUB
DPNFTUJCMF
5FSNJUPNZDFTNJDSPDBSQVT
BMJNFOUP
5FSNJUPNZDFTTDIJNQFSJ
5IFMFQIPSBQBSBHVBZFOTJT
NFEJDJOBM
BMJNFOUP
5SBNFUFTWFSTJDPMPS
NFEJDJOBM
.:"/."3
1FHMFSZ7BOIBFDLF
5SFNFMMBDPODSFTDFOT
DPNFTUJCMF
5FSNJUPNZDFTFVSIJ[VT
5SFNFMMPEFOESPO
TDIXFJOJU[JJ
DPNFTUJCMF
5SJDIPMPNBGMBWPWJSFOT
BMJNFOUP
/".*#*"
3BNNFMPPZ8BMMFZO5BZMPSFUBM
8BMMFZOZ3BNNFMPP
5SJDIPMPNBNBHOJWFMBSF
BMJNFOUP
#BUUBSSFBTUFWFOJJ
5SJDIPMPNBTFKVODUVN
BMJNFOUP
NFEJDJOBMDPTNÏUJDB
5SJDIPMPNBVTUBMPJEFT
DPNFTUJCMF
5FSGF[JBQGFJMJJ
BMJNFOUP
5SJDIPMPNBWBDDJOVN
DPNFTUJCMF
5FSNJUPNZDFTTDIJNQFSJ
DPNFTUJCMF
5FSNJUPNZDFTVNLPXBBOJJ
DPNFTUJCMF
DPNFTUJCMF
5ZMPQJMVTGFMMFVT
BMJNFOUP
6TUJMBHPNBZEJT
BMJNFOUP
7BTDFMMVNDVSUJTJJ
DPNFTUJCMF
/&1""EIJLBSJ"EIJLBSJZ%VSSJFV
3JDIBSETPO;BOHZ%PJ
7BTDFMMVNJOUFSNFEJVN
BMJNFOUP
"HBSJDVTCJUPSRVJT
BMJNFOUP
7BTDFMMVNQSBUFOTF
DPNFTUJCMF
NFEJDJOBM
"HBSJDVTDBNQFTUSJT
DPNFTUJCMF
"HBSJDVTTJMWJDPMB
BMJNFOUP
7BTDFMMVNRVEFOJJ
BMJNFOUPNFEJDJOBM
"HBSJDVTTVCSVGFTDFOT
BMJNFOUP
7PMWBSJFMMBCPNCZDJOB
DPNFTUJCMF
"NBOJUBDBFTBSFB
BMJNFOUP
7PMWBSJFMMBWPMWBDFB
DPNFTUJCMF
"NBOJUBDIFQBOHJBOB
DPNFTUJCMF
9BOUIPDPOJVNTFQBSBOT
DPNFTUJCMF
"NBOJUBIFNJCBQIB
DPNFTUJCMF
9FSPDPNVTCBEJVT
DPNFTUJCMF
"NBOJUBWBHJOBUB
DPNFTUJCMF
9FSPDPNVTDISZTFOUFSPO
DPNFTUJCMF
"SNJMMBSJBNFMMFB
DPNFTUJCMF
9FSPDPNVTTQBEJDFVT
DPNFTUJCMF
"TUSBFVTTQ
DPNFTUJCMF
9FSPNQIBMJOBDBNQBOFMMB
NFEJDJOBM
"VSJDVMBSJBBVSJDVMBKVEBF
DPNFTUJCMF
.0;".#*26&
"VSJDVMBSJBEFMJDBUB
DPNFTUJCMF
6BDJRVFUF%BJZ.PUUB8JMTPO
$BNNBDLZ4IVNCB
"VSJDVMBSJBNFTFOUFSJDB
DPNFTUJCMF
"VSJDVMBSJBQPMZUSJDIB
DPNFTUJCMF
#PMFUVTFEVMJT
DPNFTUJCMF
#PMFUVTMVSJEVT
DPNFTUJCMF
#PMFUVTWJUFMMJOVT
DPNFTUJCMF
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
$BOUIBSFMMVTPEPSBUVT
DPNFTUJCMF
$BOUIBSFMMVTTVCBMCJEVT
DPNFTUJCMF
$BOUIBSFMMVTTVCDJCBSJVT
DPNFTUJCMF
$BOUIBSFMMVTUVCJGPSNJT
DPNFTUJCMF
$MBWBSJBWFSNJDVMBSJT
DPNFTUJCMF
$MBWVMJOBDJOFSFB
BMJNFOUP
$MBWVMJOBDSJTUBUB
BMJNFOUP
$MBWVMJOPQTJTGVTJGPSNJT
DPNFTUJCMF
$PMMZCJBCVUZSBDFB
DPNFTUJCMF
"GSPCPMFUVTMVUFPMVT
BMJNFOUP
"NBOJUBIFNJCBQIB
BMJNFOUP
"SNJMMBSJBNFMMFB
BMJNFOUP
"VSJDVMBSJBBVSJDVMBKVEBF
BMJNFOUP
#PMFUVTFEVMJT
BMJNFOUP
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
$BOUIBSFMMVTEFOTJGPMJVT
BMJNFOUP
$BOUIBSFMMVTMPOHJTQPSVT
BMJNFOUP
$BOUIBSFMMVTQTFVEPDJCBSJVT
BMJNFOUP
$BOUIBSFMMVTTZNPFOTJJ
BMJNFOUP
$PQSJOVTNJDBDFVT
BMJNFOUP
-FOUJOVTTRVBSSVMPTVT
BMJNFOUP
-FVDPBHBSJDVTMFVDPUIJUFT
BMJNFOUP
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
$PQSJOVTDPNBUVT
DPNFTUJCMF
1PMZQPSVTCSVNBMJT
NFEJDJOBM
$PSEZDFQTTJOFOTJT
NFEJDJOBM
1ZDOPQPSVTDJOOBCBSJOVT
DPNFTUJCMF
$SBUFSFMMVTDPSOVDPQJPJEFT
DPNFTUJCMF
3BNBSJBBVSFB
BMJNFOUP
$SFQJEPUVTNPMMJT
<DPNFTUJCMF>
3BNBSJBCPUSZUJT
BMJNFOUP
&WFSOJBQSVOBTUSJ
PUSPToQFSGVNF
3BNBSJBGMBWB
BMJNFOUP
'JCSPQPSJBWBJMMBOUJJ
NFEJDJOBM
3BNBSJBGPSNPTB
DPNFTUJCMF
'JTUVMJOBIFQBUJDB
NFEJDJOBM
3BNBSJBGVTDPCSVOOFB
BMJNFOUP
'MBNNVMJOBWFMVUJQFT
DPNFTUJCMF
3BNBSJBPCUVTJTTJNB
BMJNFOUP
(BOPEFSNBBQQMBOBUVN
NFEJDJOBM
3IJ[PQPHPOMVUFPMVT
DPNFTUJCMF
(BOPEFSNBMVDJEVN
<NFEJDJOBM>
3VTTVMBDIMPSPJEFT
BMJNFOUP
(FBTUSVNTQ
DPNFTUJCMF
3VTTVMBEFMJDB
DPNFTUJCMF
(SJGPMBGSPOEPTB
BMJNFOUP
3VTTVMBOJHSJDBOT
DPNFTUJCMF
)FSJDJVNDMBUISPJEFT
DPNFTUJCMF
3VTTVMBWJSFTDFOT
BMJNFOUP
)FSJDJVNDPSBMMPJEFT
BMJNFOUP
4DMFSPEFSNBDJUSJOVN
DPNFTUJCMF
)FSJDJVNFSJOBDFVT
BMJNFOUP
4DMFSPEFSNBUFYFOTF
DPNFTUJCMF
)FSJDJVNGMBHFMMVN
BMJNFOUP
4FDPUJVNIJNBMBJDVN
DPNFTUJCMF
)FSJDJVNMBDJOJBUVN
DPNFTUJCMF
5FSNJUPNZDFTFVSIJ[VT
BMJNFOUP
)ZEOVNSBODFPGPFUJEVN
<DPNFTUJCMF>
5SBNFUFTIJSTVUB
NFEJDJOBM
)ZEOVNSFQBOEVN
BMJNFOUP
5SFNFMMBNFTFOUFSJDB
DPNFTUJCMF
*OPOPUVTIJTQJEVT
NFEJDJOBM
7PMWBSJFMMBWPMWBDFB
BMJNFOUP
-BDDBSJBBNFUIZTUJOB
BMJNFOUP
9FSVMBSBEJDBUB
BMJNFOUP
-BDDBSJBMBDDBUB
BMJNFOUP
-BDUBSJVTEFMJDJPTVT
BMJNFOUP
-BDUBSJVTQJQFSBUVT
DPNFTUJCMF
/*(&3*"
"MPGF0EFZFNJZ0LF0TP
3BNNFMPPZ8BMMFZO8BMMFZOZ
3BNNFMPP
-BDUBSJVTWPMFNVT
DPNFTUJCMF
"HSPDZCFCSPBEXBZJ
BMJNFOUP
-BFUJQPSVTTVMQIVSFVT
BMJNFOUP
"SNJMMBSJBNFMMFB
DPNFTUJCMF
-FOUJOVMBFEPEFT
BMJNFOUP
"VSJDVMBSJBBVSJDVMBKVEBF
BMJNFOUP
-ZDPQFSEPOTQ
DPNFTUJCMF
$BMWBUJBDZBUIJGPSNJT
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
BMJNFOUPNFEJDJOBM
$IMPSPQIZMMVNNPMZCEJUFT
DPNFTUJCMF
.BSBTNJVTPSFBEFT
DPNFTUJCMF
$PQSJOVTBGSJDBOVT
BMJNFOUP
.FSJQJMVTHJHBOUFVT
BMJNFOUP
-FOUJOVTTVCOVEVT
DPNFTUJCMF
.PSDIFMMBDPOJDB
DPNFTUJCMF
-FOUJOVTUVCFSSFHJVN
.PSDIFMMBEFMJDJPTB
DPNFTUJCMF
.PSDIFMMBFMBUB
<DPNFTUJCMF>
BMJNFOUP
NFEJDJOBMDPTNÏUJDB
-FOUJOVTWFMVUJOVT
NFEJDJOBM
.PSDIFMMBFTDVMFOUB
DPNFTUJCMF
.BDSPDZCFMPCBZFOTJT
BMJNFOUP
.PSDIFMMBTNJUIJBOB
<DPNFTUJCMF>
1BOVTGMBWVT
NFEJDJOBM
.PSDIFMMBFTDVMFOUBWBS
WVMHBSJT
DPNFTUJCMF
1IBMMVTBVSBOUJBDVT
1IPMJPUBOBNFLP
DPNFTUJCMF
<WFOFOPTP>
NFEJDJOBM
1MFVSPUVTTRVBSSPTVMVT
BMJNFOUP
1MFVSPUVTDJSDJOBUVT
DPNFTUJCMF
1TBUIZSFMMBBUSPVNCPOBUB
BMJNFOUP
1MFVSPUVTDPSOVDPQJBF
DPNFTUJCMF
4DIJ[PQIZMMVNDPNNVOF
BMJNFOUP
1MFVSPUVTESZJOVT
BMJNFOUP
5FSNJUPNZDFTDMZQFBUVT
BMJNFOUP
1MFVSPUVTOFQBMFOTJT
DPNFTUJCMF
5FSNJUPNZDFTHMPCVMVT
1MFVSPUVTPTUSFBUVT
BMJNFOUP
BMJNFOUP
WFOFOPBOJNBM
1PTUSFBUVTWBSNBHOJGJDVT
DPNFTUJCMF
5FSNJUPNZDFTNBNNJGPSNJT
BMJNFOUP
1MFVSPUVTQVMNPOBSJVT
DPNFTUJCMF
5FSNJUPNZDFTNJDSPDBSQVT
BMJNFOUP
NFEJDJOBM
1MVUFVTDFSWJOVT
BMJNFOUP
5FSNJUPNZDFTSPCVTUVT
BMJNFOUP
1PMZQPSVTBSDVMBSJVT
BMJNFOUP
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
1PMZQPSVTCBEJVT
DPNFTUJCMF
7PMWBSJFMMBFTDVMFOUB
BMJNFOUP
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
7PMWBSJFMMBWPMWBDFB
BMJNFOUP
1",*45«/
#BUSB(BSEF[J'"0C
1FHMFSZ7BOIBFDLF4ZFE3JB[Z
.BINPPE,IBO
"HBSJDVTBVHVTUVT
DPNFTUJCMF
1IPMJPUBBVTUSPTQVNPTB
DPNFTUJCMF
1IZMMPQPSVTCFMMVT
OPFTDPNJEP
1MFVSPUVTEKBNPS
DPNFTUJCMF
1PMZQPSVTBSDVMBSJVT
DPNFTUJCMF
1PMZQPSVTCMBODIFUJBOVT
DPNFTUJCMF
1PMZQPSVTUFOVJDVMVT
DPNFTUJCMF
1ZDOPQPSVTDPDDJOFVT
PUSPToNBUFSJB
QSJNB
"HBSJDVTDBNQFTUSJT
DPNFTUJCMF
"HBSJDVTQMBDPNZDFT
DPNFTUJCMF
"HBSJDVTSPENBOJ
DPNFTUJCMF
1ZDOPQPSVTTBOHVJOFVT
DPNFTUJCMF
"HBSJDVTTJMWBUJDVT
DPNFTUJCMF
3BNBSJBGJTUVMPTB
DPNFTUJCMF
"HBSJDVTTJMWJDPMB
DPNFTUJCMF
3VTTVMBBNBFOEVN
DPNFTUJCMF
"SNJMMBSJBNFMMFB
DPNFTUJCMF
3VTTVMBFCVSOFPBSFPMBUB
DPNFTUJCMF
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
3VTTVMBQTFVEPBNBFOEVN
DPNFTUJCMF
$SBUFSFMMVTDPSOVDPQJPJEFT
DPNFTUJCMF
4USPCJMPNZDFTWFMVUJQFT
DPNFTUJCMF
'MBNNVMJOBWFMVUJQFT
DPNFTUJCMF
5SBNFUFTWFSTJDPMPS
OPFTDPNJEP
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
5SPHJBTQ
DPNFTUJCMF
.PSDIFMMBBOHVTUJDFQT
DPNFTUJCMF
.PSDIFMMBDPOJDB
DPNFTUJCMF
.PSDIFMMBFTDVMFOUB
DPNFTUJCMF
1&3Á
%JF[DPNVOJDBDJØOQFSTPOBM$PMMFDUJOH
#PMFUVTFEVMJTGPSDPNNFSDJBMQVSQPTFTJO1FSV
3FNPUUJZ$PMBO
1PEBYJTQJTUJMMBSJT
DPNFTUJCMF
"VSJDVMBSJBEFMJDBUB
DPNFTUJCMF
5FSNJUPNZDFTDMZQFBUVT
DPNFTUJCMF
"VSJDVMBSJBGVTDPTVDDJOFB
DPNFTUJCMF
5FSNJUPNZDFTFVSIJ[VT
DPNFTUJCMF
#PMFUVTFEVMJT
BMJNFOUP
5FSNJUPNZDFTIFJNJJ
DPNFTUJCMF
'BWPMVTBMWFPMBSJVT
DPNFTUJCMF
5FSNJUPNZDFTNJDSPDBSQVT
DPNFTUJCMF
'BWPMVTCSBTJMJFOTJT
DPNFTUJCMF
5FSNJUPNZDFTSBEJDBUVT
DPNFTUJCMF
-FOUJOVTDPODIBUVT
DPNFTUJCMF
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
1MFVSPUVTDPODBWVT
DPNFTUJCMF
1MFVSPUVTPTUSFBUVT
DPNFTUJCMF
1MFVSPUVTSPTFPQJMFBUVT
DPNFTUJCMF
1MVUFVTDFSWJOVT
DPNFTUJCMF
1PMZQPSVTBSDVMBSJVT
DPNFTUJCMF
1PMZQPSVTTBOHVJOFVT
DPNFTUJCMF
4DIJ[PQIZMMVN
CSFWJMBNFMMBUVN
DPNFTUJCMF
4DIJ[PQIZMMVNDPNNVOF
DPNFTUJCMF
7PMWBSJFMMBCBLFSJ
DPNFTUJCMF
1"16"/6&7"(6*/&"
4JMMJUPF
"SNJMMBSJBTQ
OPFTDPNJEP
"VSJDVMBSJBQPMZUSJDIB
OPFTDPNJEP
#PMFUVTFSZUISPQVTWBS
OPWPHVJOFFOTJT
DPNFTUJCMF
#PMFUVTOJHSPWJPMBDFVT
DPNFTUJCMF
#POEBS[FXJBNPOUBOB
DPNFTUJCMF
$BOUIBSFMMVT
DPNFTUJCMF
$PMMZCJBTQ
OPFTDPNJEP
$PSUJOBSJVTTQ
DPNFTUJCMF
10-0/*"
XXXHS[ZCZQM
(SJGPMBGSPOEPTB
DPNFTUJCMF
"SNJMMBSJBNFMMFB
BMJNFOUP
(ZNOPQJMVTOPWPHVJOFFOTJT
OPFTDPNJEP
"VSJDVMBSJBBVSJDVMBKVEBF
BMJNFOUP
*OPDZCFTQ
DPNFTUJCMF
#PMFUVTFEVMJT
BMJNFOUP
-BDDBSJBBNFUIZTUFB
DPNFTUJCMF
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
-BDUBSJVT
DPNFTUJCMF
-BDUBSJVTEFMJDJPTVT
BMJNFOUP
-FOUJOVMBMBUFSJUJB
DPNFTUJCMF
-FDDJOVNHSJTFVN
BMJNFOUP
-FOUJOVTBSBVDBSJBF
DPNFTUJCMF
-FDDJOVNTDBCSVN
BMJNFOUP
-FOUJOVTVNCSJOVT
OPFTDPNJEP
.BDSPMFQJPUBQSPDFSB
BMJNFOUP
.JDSPQPSVTBGGJOJT
DPNFTUJCMF
1MFVSPUVTPTUSFBUVT
BMJNFOUP
.JDSPQPSVTYBOUIPQVT
OPFTDPNJEP
3P[JUFTDBQFSBUVT
BMJNFOUP
0VEFNBOTJFMMBDBOBSJJ
DPNFTUJCMF
3VTTVMBDZBOPYBOUIB
BMJNFOUP
1IBFPNBSBTNJVTBGGJOJT
DPNFTUJCMF
5SJDIPMPNBFRVFTUSF
BMJNFOUP
1IFMMJOVTTFOFY
OPFTDPNJEP
9FSPDPNVTCBEJVT
BMJNFOUP
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
9FSPDPNVTTVCUPNFOUPTVT
BMJNFOUP
$BOUIBSFMMVTEFOTJGPMJVT
DPNFTUJCMF
3&1Á#-*$"$&/530"'3*$"/"
3BNNFMPPZ8BMMFZO8BMMFZOZ
3BNNFMPP
$BOUIBSFMMVTJODBSOBUVT
DPNFTUJCMF
$BOUIBSFMMVTMVUFPQVODUBUVT
DPNFTUJCMF
"HBSJDVTTVCFEVMJT
DPNFTUJCMF
$BOUIBSFMMVTNJOJBUFTDFOT
DPNFTUJCMF
$PMMZCJBBUUFOVBUB
DPNFTUJCMF
$BOUIBSFMMVTQMBUZQIZMMVT
DPNFTUJCMF
(BOPEFSNBDVSUJTJJ
NFEJDJOBM
$BOUIBSFMMVTQTFVEPGSJFTJJ
DPNFTUJCMF
-FOUJOVTBSBVDBSJBF
DPNFTUJCMF
$BOUIBSFMMVTSVCFS
DPNFTUJCMF
-FOUJOVTCSVOOFPGMPDDPTVT
DPNFTUJCMF
$BOUIBSFMMVTSVGPQVODUBUVT
DPNFTUJCMF
-JHOPTVTTBDFS
NFEJDJOBM
$BOUIBSFMMVTTZNPFOTJJ
DPNFTUJCMF
.BDSPMFQJPUBBGSJDBOB
DPNFTUJCMF
$MBWBSJBBMCJSBNFB
DPNFTUJCMF
1IMFCPQVTTVEBOJDVT
DPNFTUJCMF
$PMMZCJBQJQFSBUB
DPNFTUJCMF
1PMZQPSVTSIJ[PNPSQIVT
PUSPToDPSEFMFT
$PPLFJOBTVMDJQFT
DPNFTUJCMF
4DIJ[PQIZMMVNDPNNVOF
DPNFTUJCMF
$PSEJUVCFSBCPWPOFJ
DPNFTUJCMF
5FSNJUPNZDFTDMZQFBUVT
DPNFTUJCMF
$PUZMJEJBBVSBOUJBDB
DPNFTUJCMF
5FSNJUPNZDFTTDIJNQFSJ
DPNFTUJCMF
$SBUFSFMMVTBVSFVT
DPNFTUJCMF
7PMWBSJFMMBWPMWBDFB
DPNFTUJCMF
$DPSOVDPQJPJEFTWBS
DPSOVDPQJPJEFT
DPNFTUJCMF
9ZMBSJBQBQZSJGFSB
NFEJDJOBM
$DPSOVDPQJPJEFTWBS
QBSWJTQPSVT
DPNFTUJCMF
$ZNBUPEFSNBFMFHBOT
TVCTQJOGVOEJCVMJGPSNF
DPNFTUJCMF
(PPTTFOTJBDJCBSJPJEFT
DPNFTUJCMF
(ZNOPQJMVTTQ
DPNFTUJCMF
)ZQIPMPNBXBNCFOTJT
DPNFTUJCMF
-BDUBSJVTBOHVTUVT
DPNFTUJCMF
-BDUBSJVTDPOHPMFOTJT
DPNFTUJCMF
-BDUBSJVTFEVMJT
DPNFTUJCMF
-BDUBSJVTJOWFSTVT
DPNFTUJCMF
-BDUBSJVTLBCBOTVT
DPNFTUJCMF
-BDUBSJVTMBUJGPMJVT
DPNFTUJCMF
DPNFTUJCMF
3&1Á#-*$"%&-$0/(0
3BNNFMPPZ8BMMFZO
"SNJMMBSJBEJTUBOT
DPNFTUJCMF
$IMPSPQIZMMVNNPMZCEJUFT
DPNFTUJCMF
$PMMZCJBBOPNCF
DPNFTUJCMF
$PMMZCJBPSPOHB
DPNFTUJCMF
-FVDPDPQSJOVTHBOEPVS
DPNFTUJCMF
1IMFCPQVTTVEBOJDVT
DPNFTUJCMF
3&1Á#-*$"%&.0$3«5*$"%&-$0/(0
%FHSFFGFUBM1FHMFS:7BOIBFDLF
3BNNFMPP:8BMMFZO8BMMFZO:
3BNNFMPP
"HBSJDVTFSZUISPUSJDIVT
DPNFTUJCMF
"HBSJDVTHPPTTFOTJBF
DPNFTUJCMF
-BDUBSJVTQFMMJDVMBUVTG
QBMMJEVT
"HBSJDVTOJWFTDFOT
DPNFTUJCMF
-BDUBSJVTQTFVEPWPMFNVT
DPNFTUJCMF
"HBSJDVTWPMWBUVMVT
DPNFTUJCMF
-BDUBSJVTTFTFNPUBOJ
DPNFTUJCMF
"NBOJUBBVSFB
DPNFTUJCMF
-FOUJOVTDJUSJOVT
DPNFTUJCMF
"NBOJUBHPPTFOTJBF
DPNFTUJCMF
-FOUJOVTTBKPSDBKV
DPNFTUJCMF
"NBOJUBMPPTJJ
DPNFTUJCMF
-FOUJOVTTRVBSSVMPTVT
DPNFTUJCMF
"NBOJUBSPCVTUB
DPNFTUJCMF
-FOUJOVTUVCFSSFHJVN
DPNFTUJCMF
"NBOJUB[BNCJBOB
DPNFTUJCMF
-FOUJOVTWFMVUJOVT
DPNFTUJCMF
"NBOJUPQTJTQVEJDB
DPNFTUJCMF
-FO[JUFTFMFHBOT
"VSJDVMBSJBBVSJDVMBKVEBF
DPNFTUJCMF
NFEJDJOBM
<WFOFOPTP>
-FQJPUBIFOOJOHTJJ
DPNFTUJCMF
"VSJDVMBSJBEFMJDBUB
DPNFTUJCMF
-FVDPBHBSJDVTCJTQPSVT
DPNFTUJCMF
"VSJDVMBSJBQPMZUSJDIB
DPNFTUJCMF
-FVDPDPQSJOVTEJTDPJEFVT
DPNFTUJCMF
"VSJDVMBSJBUFOVJT
DPNFTUJCMF
.BDSPMFQJPUBBGSJDBOB
DPNFTUJCMF
#POEBS[FXJBCFSLFMFZJ
DPNFTUJCMF
DPNFTUJCMF
$BNBSPQIZMMVTTVCQSBUFOTJT
DPNFTUJCMF
.HSBDJMFOUBWBS
HPPTTFOTJBF
$BOUIBSFMMVTDJCBSJVT
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
$DJCBSJVTWBSEFGJCVMBUVT
DPNFTUJCMF
.BDSPMFQJPUBQSPNJOFOT
DPNFTUJCMF
.BDSPMFQJPUB[FZIFSJ
DPNFTUJCMF
.BSBTNJVTBSCPSFTDFOT
DPNFTUJCMF
.BSBTNJVTCV[VOHPMP
DPNFTUJCMF
$DJCBSJVTWBSMBUJGPMJVT
DPNFTUJCMF
$BOUIBSFMMVTDPOHPMFOTJT
DPNFTUJCMF
$BOUIBSFMMVTDZBOPYBOUIVT
DPNFTUJCMF
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
.BSBTNJVTDSJOJTFRVJ
PUSPToKPZFSÓB
"SNJMMBSJBTQ
<DPNFTUJCMF>
.BSBTNJVTHSBOEJTFUVMPTVT
DPNFTUJCMF
$BOUIBSFMMVTMVUFPDPNVT
<DPNFTUJCMF>
.BSBTNJVTQJQFSPEPSB
DPNFTUJCMF
$PMMZCJBBDFSWBUB
<DPNFTUJCMF>
/PUIPQBOVTIZHSPQIBOVT
DPNFTUJCMF
$PQSJOVTEJTTFNJOBUVT
<DPNFTUJCMF>
0VEFNBOTJFMMBDBOBSJJ
DPNFTUJCMF
(BOPEFSNBMVDJEVN
<NFEJDJOBM>
1F[J[BWFTJDVMPTB
DPNFTUJCMF
)ZHSPDZCFDBOUIBSFMMVT
<DPNFTUJCMF>
1IBMMVTJOEVTJBUVT
NFEJDJOBM
)ZHSPDZCFDPOJDB
<DPNFTUJCMF>
1IMFCPQVTDPMPTTVT
<DPNFTUJCMF>
)ZHSPDZCFQVOJDFB
<DPNFTUJCMF>
1MFVSPUVTEKBNPS
DPNFTUJCMF
-BDDBSJBBNFUIZTUFB
<DPNFTUJCMF>
1MVUFVTDFSWJOVTWBS
FBMBFOTJT
DPNFTUJCMF
-BDDBSJBMBDDBUB
<DPNFTUJCMF>
1TBUIZSFMMBTQBEJDFB
DPNFTUJCMF
-BDUBSJVTWPMFNVT
<DPNFTUJCMF>
1TFVEPDSBUFSFMMVTMBFUJDPMPS
DPNFTUJCMF
-FDDJOVNFYUSFNJPSJFOUBMF
<DPNFTUJCMF>
1ZDOPQPSVTTBOHVJOFVT
NFEJDJOBM
-FOUJOVTTUSJHPTVT
BMJNFOUP
3BNBSJBPDISBDFB
DPNFTUJCMF
-ZPQIZMMVNTQ
<DPNFTUJCMF>
3VTTVMBBUSPWJSFOT
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
<DPNFTUJCMF>
3VTTVMBDFMMVMBUB
DPNFTUJCMF
0VEFNBOTJFMMBTQ
<DPNFTUJCMF>
3VTTVMBDZDMPTQFSNB
DPNFTUJCMF
1ZDOPQPSVTDPDDJOFVT
<PUSPT>
3VTTVMBEJGGVTBWBSEJGGVTB
DPNFTUJCMF
3BNBSJB
NFEJDJOBM
3VTTVMBIJFNJTJMWBF
DPNFTUJCMF
3VTTVMB
BMJNFOUP
3VTTVMBQTFVEPTUSJBUPWJSJEJT
DPNFTUJCMF
3VTTVMBEFOTJGPMJB
<DPNFTUJCMF>
3VTTVMBSPTFPBMCB
DPNFTUJCMF
3VTTVMBWJSFTDFOT
<DPNFTUJCMF>
3VTTVMBSPTFPTUSJBUB
DPNFTUJCMF
4DIJ[PQIZMMVNDPNNVOF
BMJNFOUP
3VTTVMBTFTF
DPNFTUJCMF
4VJMMVTHSBOVMBUVT
<DPNFTUJCMF>
3VTTVMBTFTFOBHVMB
DPNFTUJCMF
5FSNJUPNZDFT
BMJNFOUP
3VTTVMBTUSJBUPWJSJEJT
DPNFTUJCMF
5SBNFUFTWFSTJDPMPS
<NFEJDJOBM>
4DIJ[PQIZMMVNDPNNVOF
DPNFTUJCMF
4DMFSPEFSNBCPWPOFJ
DPNFTUJCMF
3&1Á#-*$"1016-"3%&.0$3«5*$"%&$03&"
8BOH)BMMZ&WBOT
5FSNJUPNZDFTBVSBOUJBDVT
DPNFTUJCMF
5FSNJUPNZDFTDMZQFBUVT
DPNFTUJCMF
5FSNJUPNZDFTFOUPMPNPJEFT
DPNFTUJCMF
5FSNJUPNZDFTHMPCVMVT
DPNFTUJCMF
3&1Á#-*$"6/*%"%&5"/;"/¶"
)ÊSLÚOFO4BBSJNÊLJZ.XBTVNCJB
)ÊSLÚOFO4BBSJNÊLJZ.XBTVNCJC
3BNNFMPPZ8BMMFZO8BMMFZOZ
3BNNFMPP
5FSNJUPNZDFTMFUFTUVJ
DPNFTUJCMF
"HBSJDVTDBNQFTUSJT
5FSNJUPNZDFTNBNNJGPSNJT
DPNFTUJCMF
"NBOJUBUBO[BOJDB
DPNFTUJCMF
5FSNJUPNZDFTNJDSPDBSQVT
DPNFTUJCMF
"NBOJUB[BNCJBOB
DPNFTUJCMF
5FSNJUPNZDFTSPCVTUVT
DPNFTUJCMF
"SNJMMBSJBNFMMFB
DPNFTUJCMF
5FSNJUPNZDFTTDIJNQFSJ
DPNFTUJCMF
"VSJDVMBSJBEFMJDBUB
DPNFTUJCMF
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
"VSJDVMBSJBGVTDPTVDDJOFB
DPNFTUJCMF
5TUSJBUVTWBSBVSBOUJBDVT
DPNFTUJCMF
"VSJDVMBSJBQPMZUSJDIB
DPNFTUJCMF
5FSNJUPNZDFTUJUBOJDVT
DPNFTUJCMF
$BOUIBSFMMVTDPOHPMFOTJT
DPNFTUJCMF
5SPHJBJOGVOEJCVMJGPSNJT
DPNFTUJCMF
$BOUIBSFMMVTJTBCFMMJOVT
DPNFTUJCMF
7PMWBSJFMMBCPNCZDJOB
DPNFTUJCMF
$BOUIBSFMMVTQMBUZQIZMMVT
DPNFTUJCMF
7PMWBSJFMMBQBSWJTQPSB
DPNFTUJCMF
$BOUIBSFMMVTTZNPFOTJJ
DPNFTUJCMF
9FSPDPNVTQBMMJEPTQPSVT
DPNFTUJCMF
$PQSJOVTDJOFSFVT
DPNFTUJCMF
3&1Á#-*$"%&.0$3«5*$"1016-"3-"0
)PTBLBDPNVOJDBDJØOQFSTPOBMIUUQHJFD
IHSPVQIQJOGPTFFLDPKQLJOPLPFOHIUNM
&OUPMPNBBSHZSPQVT
DPNFTUJCMF
)ZQIPMPNBTVCWJSJEF
OPDPNJEP
"NBOJUBIFNJCBQIB
BMJNFOUP
,VFIOFSPNZDFTNVUBCJMJT
DPNFTUJCMF
"NBOJUBWBHJOBUB
<DPNFTUJCMF>
-BDUBSJVTHZNOPDBSQVT
DPNFTUJCMF
"NBOJUBWJSHJOFPJEFT
<DPNFTUJCMF>
-BDUBSJVTLBCBOTVT
BMJNFOUP
5SJDIPMPNBNBUTVUBLF
DPNFTUJCMF
DPNFTUJCMF
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
-BDUBSJVTQFMMJDVMBUVT
DPNFTUJCMF
-BDUBSJVTQIMFCPQIZMMVT
BMJNFOUP
-BDUBSJVTSVCSPWJPMBTDFOT
DPNFTUJCMF
4*&33"-&0/"
1FHMFSZ7BOIBFDLF
-FOUJOVTTBKPSDBKV
DPNFTUJCMF
5FSNJUPNZDFTTUSJBUVT
-FOUJOVTUVCFSSFHJVN
DPNFTUJCMF
NFEJDJOBM
-FO[JUFTFMFHBOT
DPNFTUJCMF
-FVDPBHBSJDVTMFVDPUIJUFT
DPNFTUJCMF
-FVDPBHBSJDVT
SIPEPDFQIBMVT
DPNFTUJCMF
40."-*"
3BNNFMPPZ8BMMFZO
-JHOPTVTTBDFS
NFEJDJOBM
"HBSJDVTBNCPFOTJT
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
"HBSJDVTDBNQFTUSJT
DPNFTUJCMF
1IFMMJOVTTQ
NFEJDJOBM
1MFVSPUVTEKBNPS
DPNFTUJCMF
43*-"/,"
1FHMFSZ7BOIBFDLF
1PMZQPSVTNPMVDDFOTJT
DPNFTUJCMF
3VTTVMBDFMMVMBUB
BMJNFOUP
3VTTVMBDJMJBUB
DPNFTUJCMF
3VTTVMBDPNQSFTTB
DPNFTUJCMF
46%«'3*$"
1FHMFSZ7BOIBFDLF8BMMFZOZ
3BNNFMPP
3VTTVMBDPOHPBOB
DPNFTUJCMF
"NBOJUBFYDFMTB
<DPNFTUJCMF>
3VTTVMBIFJNJJ
DPNFTUJCMF
"NBOJUBGPFUJEJTTJNB
<DPNFTUJCMF>
3VTTVMBIJFNJTJMWBF
DPNFTUJCMF
"NBOJUBNVTDBSJB
3VTTVMBMJCFSJFOTJT
DPNFTUJCMF
BMVDJOØHFOP
WFOFOPTP
3VTTVMBQIBFPDFQIBMB
DPNFTUJCMF
"NBOJUBSVCFTDFOT
<DPNFTUJCMF>
3VTTVMBTVCMBFWJT
DPNFTUJCMF
)FMWFMMBMBDVOPTB
<DPNFTUJCMF>
3VTTVMBUBO[BOJBF
DPNFTUJCMF
)FSJDJVNDPSBMMPJEFT
<DPNFTUJCMF>
4VJMMVTHSBOVMBUVT
DPNFTUJCMF
-FQJTUBDBGGSPSVN
<DPNFTUJCMF>
5FSNJUPNZDFTBVSBOUJBDVT
DPNFTUJCMF
.BDSPMFQJPUBSIBDPEFT
<DPNFTUJCMF>
5FSNJUPNZDFTFVSIJ[VT
DPNFTUJCMF
NFEJDJOBM
1TJMPDZCFTFNJMBODFBUB
BMVDJOØHFOP
4VJMMVTHSBOVMBUVT
<DPNFTUJCMF>
5FSNJUPNZDFTMFUFTUVJ
BMJNFOUP
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
5FSNJUPNZDFTNJDSPDBSQVT
DPNFTUJCMF
5FSNJUPNZDFTTJOHJEFOTJT
BMJNFOUP
7PMWBSJFMMBCPNCZDJOB
DPNFTUJCMF
7PMWBSJFMMBWPMWBDFB
DPNFTUJCMF
5VCPTBFUBCSVOOFPTFUPTB
<DPNFTUJCMF>
DPNFTUJCMF
4*/("163
#VSLIJMM
5FSNJUPNZDFTBMCVNJOPTVT
BMJNFOUP
5FSNJUPNZDFTFVSIJ[VT
DPNFTUJCMF
5FSNJUPNZDFTNJDSPDBSQVT
DPNFTUJCMF
5"*-"/%*"
+POFT8IBMMFZZ)ZXFM+POFT1FHMFSZ
7BOIBFDLF4UBNFUT
"VSJDVMBSJBTQ
BMJNFOUP
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
$BOUIBSFMMVTNJOPS
BMJNFOUP
-FOUJOVMBFEPEFT
BMJNFOUP
-FOUJOVTQSBFSJHJEVT
BMJNFOUP
1MFVSPUVTDZTUJEJPTVT
BMJNFOUP
<DPNFTUJCMF>
3VTTVMBBFSVHJOFB
BMJNFOUP
"NBOJUBDSBTTJDPOVT
<DPNFTUJCMF>
3VTTVMBEFMJDB
BMJNFOUP
"NBOJUBIFNJCBQIB
<DPNFTUJCMF>
3VTTVMBEFOTJGPMJB
BMJNFOUP
"NBOJUBSVCFTDFOT
<DPNFTUJCMF>
3VTTVMBGPFUFOT
BMJNFOUP
$BOUIBSFMMVTDPOHPMFOTJT
<DPNFTUJCMF>
3VTTVMBIFUFSPQIZMMB
BMJNFOUP
$BOUIBSFMMVTQTFVEPGSJFTJJ
<DPNFTUJCMF>
3VTTVMBMFQJEB
BMJNFOUP
(ZSPEPOJOUFSNFEJVT
BMJNFOUP
3VTTVMBOJHSJDBOT
BMJNFOUP
-BDUBSJVTHZNOPDBSQVT
<DPNFTUJCMF>
3VTTVMBTBOHVJOFB
BMJNFOUP
1IMFCPQVTTVEBOJDVT
BMJNFOUP
3VTTVMBWJPMFJQFT
BMJNFOUP
1PMZQPSVT
NFEJDJOBM
3VTTVMBWJSFTDFOT
BMJNFOUP
3VTTVMBGPFUFOT
<DPNFTUJCMF>
5FSNJUPNZDFTBVSBOUJBDVT
BMJNFOUP
3VTTVMBQFDUJOBUB
<DPNFTUJCMF>
5FSNJUPNZDFTDMZQFBUVT
BMJNFOUP
3&6/*»/
3BNNFMPPZ8BMMFZO
7PMWBSJFMMBWPMWBDFB
DPNFTUJCMF
4&/&("%VDPVTTP#BZ5IPFO5IPFOZ#B
"GSPCPMFUVTDPTUBUJTQPSVT
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
5FSNJUPNZDFTHMPCVMVT
7PMWBSJFMMBWPMWBDFB
BMJNFOUP
BMJNFOUP
5Á/&;
"MTIFJLI:5SBQQF
5JSNBOJBOJWFB
DPNFTUJCMF
56326¶"
"GZPO$BHMBSJSNBL6OBMZ0UMFT
%FNJSCBT4BCSBZ8BMUFSIUUQ
XXXPHNHPWUS:JMNB[0EFSF*TJMPHMV
4VJMMVTHSFWJMMFJ
DPNFTUJCMF
4VJMMVTMVUFVT
DPNFTUJCMF
5FSGF[JBCPVEJFSJ
BMJNFOUP
5SJDIPMPNBQPQVMJOVN
BMJNFOUP
5SJDIPMPNBUFSSFVN
DPNFTUJCMF
5VCFSBFTUJWVN
DPNFTUJCMF
5VCFSCPSDIJJ
DPNFTUJCMF
9FSPDPNVTCBEJVT
DPNFTUJCMF
"HBSJDVTCJTQPSVT
BMJNFOUP
"HBSJDVTCJUPSRVJT
DPNFTUJCMF
"HBSJDVTDBNQFTUSJT
BMJNFOUP
"HBSJDVTTJMWJDPMB
DPNFTUJCMF
"NBOJUBDBFTBSFB
DPNFTUJCMF
"SNJMMBSJBNFMMFB
DPNFTUJCMF
#PMFUVTFEVMJT
BMJNFOUP
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
$ISPPHPNQIVTSVUJMVT
DPNFTUJCMF
$PQSJOVTDPNBUVT
BMJNFOUP
$PSUJOBSJVTWBSJFDPMPS
DPNFTUJCMF
$SBUFSFMMVTDPSOVDPQJPJEFT
DPNFTUJCMF
'JTUVMJOBIFQBUJDB
DPNFTUJCMF
)FMWFMMBMBDVOPTB
BMJNFOUP
6$3"/*"
;FSPWBZ3P[IFOLP
)FSJDJVNDPSBMMPJEFT
BMJNFOUP
"HBSJDVTBSWFOTJT
)ZEOVNSFQBOEVN
DPNFTUJCMF
"HBSJDVTCJTQPSVT
<DPNFTUJCMF>
)ZHSPQIPSVTDISZTPEPO
DPNFTUJCMF
"HBSJDVTCJUPSRVJT
<DPNFTUJCMF>
-BDDBSJBMBDDBUB
DPNFTUJCMF
"HBSJDVTDBNQFTUSJT
<DPNFTUJCMF>
-BDUBSJVTEFMJDJPTVT
BMJNFOUP
"HBSJDVTNBDSPTQPSVT
<DPNFTUJCMF>
-BDUBSJVTQJQFSBUVT
BMJNFOUP
"HBSJDVTQMBDPNZDFT
<DPNFTUJCMF>
-BDUBSJVTTBMNPOJDPMPS
BMJNFOUP
"HBSJDVTTJMWBUJDVT
<DPNFTUJCMF>
-BDUBSJVTWPMFNVT
DPNFTUJCMF
"NBOJUBDBFTBSFB
<DPNFTUJCMF>
-BFUJQPSVTTVMQIVSFVT
DPNFTUJCMF
"NBOJUBFYDFMTB
<DPNFTUJCMF>
-ZDPQFSEPOQFSMBUVN
BMJNFOUP
"NBOJUBQPSQIZSJB
<DPNFTUJCMF>
.BDSPMFQJPUBQSPDFSB
DPNFTUJCMF
"NBOJUBSVCFTDFOT
<DPNFTUJCMF>
.PSDIFMMBDPOJDB
BMJNFOUP
"NBOJUBWBHJOBUB
<DPNFTUJCMF>
.PSDIFMMBDSBTTJQFT
DPNFTUJCMF
"NBOJUBYBOUIPEFSNVT
<DPNFTUJCMF>
.PSDIFMMBEFMJDJPTB
DPNFTUJCMF
"SNJMMBSJBNFMMFB
<DPNFTUJCMF>
.PSDIFMMBFMBUB
DPNFTUJCMF
"TUSPTQPSJOBBTUFSPTQPSB
<DPNFTUJCMF>
.PSDIFMMBFTDVMFOUB
BMJNFOUP
#PMFUVTBQQFOEJDVMBUVT
<DPNFTUJCMF>
.FTDVMFOUBWBSSPUVOEB
DPNFTUJCMF
#PMFUVTBVSBOUJBDVT
<DPNFTUJCMF>
1MFVSPUVTDPSOVDPQJBF
DPNFTUJCMF
#PMFUVTDBMPQVT
<DPNFTUJCMF>
1MFVSPUVTFSZOHJJ
BMJNFOUP
#PMFUVTFEVMJT
<DPNFTUJCMF>
1MFVSPUVTPTUSFBUVT
BMJNFOUP
#PMFUVTFMFHBOT
<DPNFTUJCMF>
1PMZQPSVTTRVBNPTVT
DPNFTUJCMF
#PMFUVTFSZUISPQVT
<DPNFTUJCMF>
3IJ[PQPHPOMVUFPMVT
DPNFTUJCMF
#PMFUVTJNQPMJUVT
<DPNFTUJCMF>
3IJ[PQPHPOSPTFPMVT
BMJNFOUP
#PMFUVTMVSJEVT
<DPNFTUJCMF>
3IJ[PQPHPOSVCFTDFOT
DPNFTUJCMF
#PMFUVTSFHJVT
<DPNFTUJCMF>
3VTTVMBEFMJDB
BMJNFOUP
#PMFUVTSVCFMMVT
<DPNFTUJCMF>
4QBSBTTJTDSJTQB
DPNFTUJCMF
#PMFUVTTDBCFS
<DPNFTUJCMF>
4VJMMVTCPWJOVT
DPNFTUJCMF
6("/%"
,BUFOEF4FHBXBZ#JSOJF1FHMFSZ
7BOIBFDLF3BNNFMPPZ8BMMFZO
"HBSJDVTCJOHFOTJT
DPNFTUJCMF
"SNJMMBSJBNFMMFB
DPNFTUJCMF
-FOUJOVTQSPMJGFS
DPNFTUJCMF
5FSNJUPNZDFTBVSBOUJBDVT
DPNFTUJCMF
5FSNJUPNZDFTFVSIJ[VT
DPNFTUJCMF
5FSNJUPNZDFTMFUFTUVJ
DPNFTUJCMF
5FSNJUPNZDFTNJDSPDBSQVT
DPNFTUJCMF
5FSNJUPNZDFTSPCVTUVT
DPNFTUJCMF
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
5SJDIPMPNBTQ
DPNFTUJCMF
<DPNFTUJCMF>
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
#PMFUVTTVCUPNFOUPTVT
<DPNFTUJCMF>
#PMFUVTWBSJFHBUVT
<DPNFTUJCMF>
$BMWBUJBVUSJGPSNJT
<DPNFTUJCMF>
$BOUIBSFMMVTDJCBSJVT
<DPNFTUJCMF>
$IBMDJQPSVTQJQFSBUVT
<DPNFTUJCMF>
$MJUPDZCFBVSBOUJBDB
<DPNFTUJCMF>
$MJUPDZCFDMBWJQFT
<DPNFTUJCMF>
$MJUPDZCFOFCVMBSJT
<DPNFTUJCMF>
$MJUPDZCFPMFBSJB
<DPNFTUJCMF>
$MJUPDZCFSJWVMPTB
<DPNFTUJCMF>
$MJUPQJMVTQSVOVMVT
<DPNFTUJCMF>
$PMMZCJBCVUZSBDFB
<DPNFTUJCMF>
$PQSJOVTDPNBUVT
<DPNFTUJCMF>
$PQSJOVTNJDBDFVT
<DPNFTUJCMF>
$PSUJOBSJVTDSBTTVT
<DPNFTUJCMF>
$PSUJOBSJVTNVDPTVT
<DPNFTUJCMF>
$PSUJOBSJVTNVMUJGPSNJT
<DPNFTUJCMF>
$PSUJOBSJVTWBSJVT
<DPNFTUJCMF>
&OUPMPNBDMZQFBUVN
<DPNFTUJCMF>
&OUPMPNBSIPEPQPMJVN
<DPNFTUJCMF>
'MBNNVMJOBWFMVUJQFT
<DPNFTUJCMF>
(PNQIJEJVTHMVUJOPTVT
<DPNFTUJCMF>
(ZSPEPOMJWJEVT
<DPNFTUJCMF>
636(6":
%FTDIBNQT
(ZSPNJUSBFTDVMFOUB
<DPNFTUJCMF>
(ZNOPQJMVTTQFDUBCJMJT
BMJNFOUP
(ZSPQPSVTDBTUBOFVT
<DPNFTUJCMF>
-BDUBSJVTEFMJDJPTVT
BMJNFOUP
(ZSPQPSVTDZBOFTDFOT
<DPNFTUJCMF>
-BFUJQPSVTTVMQIVSFVT
BMJNFOUP
)ZEOVNSFQBOEVN
<DPNFTUJCMF>
3IJ[PQPHPOMVUFPMVT
BMJNFOUP
)ZHSPQIPSVTIZQPUIFKVT
<DPNFTUJCMF>
3IJ[PQPHPOSPTFPMVT
BMJNFOUP
)ZQIPMPNBDBQOPJEFT
<DPNFTUJCMF>
4VJMMVTHSBOVMBUVT
BMJNFOUP
)ZQIPMPNBFQJYBOUIVN
<DPNFTUJCMF>
5SJDIPMPNBTVMQIVSFVT
BMJNFOUP
,VFIOFSPNZDFTNVUBCJMJT
<DPNFTUJCMF>
-BDDBSJBMBDDBUB
<DPNFTUJCMF>
7*&5/".
#VSLIJMM
-BDUBSJVTBDSJT
<DPNFTUJCMF>
"NBOJUJOBNBOHJOJBOB
-BDUBSJVTDPOUSPWFSTVT
<DPNFTUJCMF>
-BDUBSJVTEFMJDJPTVT
<DPNFTUJCMF>
:6(04-"7*"IPZ4FSCJBZ.POUFOFHSP
3JDIBSETPO;BLMJOB
-BDUBSJVTHMZDJPTNVT
<DPNFTUJCMF>
-BDUBSJVTIFMWVT
<DPNFTUJCMF>
-BDUBSJVTJOTVMTVT
<DPNFTUJCMF>
-BDUBSJVTMJHOZPUVT
<DPNFTUJCMF>
-BDUBSJVTOFDBUPS
<DPNFTUJCMF>
-BDUBSJVTQBMMJEVT
<DPNFTUJCMF>
-BDUBSJVTQJQFSBUVT
<DPNFTUJCMF>
-BDUBSJVTQPSOJOTJT
<DPNFTUJCMF>
-BDUBSJVTRVJFUVT
<DPNFTUJCMF>
-BDUBSJVTSFQSBFTFOUBOFVT
<DPNFTUJCMF>
-BDUBSJVTSFTJNVT
<DPNFTUJCMF>
-BDUBSJVTSVGVT
<DPNFTUJCMF>
-BDUBSJVTTBOHVJGMVVT
<DPNFTUJCMF>
-BDUBSJVTTDSPCJDVMBUVT
<DPNFTUJCMF>
-BDUBSJVTTFNJTBOHVJGMVVT
<DPNFTUJCMF>
-BDUBSJVTTVCEVMDJT
<DPNFTUJCMF>
-BDUBSJVTUPSNJOPTVT
<DPNFTUJCMF>
-BDUBSJVTWFMMFSFVT
<DPNFTUJCMF>
-BDUBSJVTWJFUVT
<DPNFTUJCMF>
-BDUBSJVTWJPMBTDFOT
<DPNFTUJCMF>
-BDUBSJVTWPMFNVT
<DPNFTUJCMF>
-BDUBSJVT[POBSJVT
<DPNFTUJCMF>
-BOHFSNBOOJBHJHBOUFB
<DPNFTUJCMF>
-FQJPUBMJMBDFB
<DPNFTUJCMF>
-FQJTUBJSJOB
<DPNFTUJCMF>
-FQJTUBOVEB
<DPNFTUJCMF>
-FVDPQBYJMMVTHJHBOUFVT
<DPNFTUJCMF>
-ZDPQFSEPOQFSMBUVN
<DPNFTUJCMF>
-ZPQIZMMVNEFDBTUFT
<DPNFTUJCMF>
.BDSPMFQJPUBFYDPSJBUB
<DPNFTUJCMF>
.BDSPMFQJPUBQSPDFSB
<DPNFTUJCMF>
.BSBTNJVTBMMJBDFVT
<DPNFTUJCMF>
.BSBTNJVTPSFBEFT
<DPNFTUJCMF>
9FSPDPNVTQBSBTJUJDVT
<DPNFTUJCMF>
BMJNFOUP
#PMFUVT
BMJNFOUP
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
$SBUFSFMMVTDPSOVDPQJPJEFT
BMJNFOUP
&WFSOJBQSVOBTUSJ
PUSPoQFSGVNF
;".#*"
1FHMFSZ1JFBSDF1JFBSDF
3BNNFMPPZ8BMMFZO8BMMFZOZ
3BNNFMPP
"GSPCPMFUVTDPTUBUJTQPSVT
DPNFTUJCMF
"NBOJUBGMBNNFPMB
BMJNFOUP
"NBOJUB[BNCJBOB
BMJNFOUP
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
$BOUIBSFMMVTEFOTJGPMJVT
BMJNFOUP
$BOUIBSFMMVTMPOHJTQPSVT
BMJNFOUP
$BOUIBSFMMVTNJOJBUFTDFOT
BMJNFOUP
"OFYP3FHJTUSPTQPSQBÎTEFMPT)46DPNFTUJCMFTNFEJDJOBMFTZPUSPTVTPT
$BOUIBSFMMVTQTFVEPDJCBSJVT
BMJNFOUP
-BDUBSJVTHZNOPDBSQVT
BMJNFOUP
-BDUBSJVTLBCBOTVT
BMJNFOUP
-BDUBSJVTQJQFSBUVT
BMJNFOUP
-FOUJOVTDMBEPQVT
DPNFTUJCMF
.BDSPMFQJPUBQSPDFSB
BMJNFOUP
1PMZQPSVTNPMVDDFOTJT
DPNFTUJCMF
4DIJ[PQIZMMVNDPNNVOF
BMJNFOUP
4VJMMVTHSBOVMBUVT
DPNFTUJCMF
5FSNJUPNZDFTDMZQFBUVT
BMJNFOUP
5FSNJUPNZDFTFVSIJ[VT
BMJNFOUP
5FSNJUPNZDFTNFEJVT
BMJNFOUP
5FSNJUPNZDFTNJDSPDBSQVT
BMJNFOUP
5FSNJUPNZDFTTDIJNQFSJ
BMJNFOUP
5FSNJUPNZDFTUJUBOJDVT
BMJNFOUP
7BOEFSCZMJBVOHVMBUB
NFEJDJOBM
;*.#"#8&
#PBFUBM
"NBOJUBBVSFB
BMJNFOUP
"NBOJUBMPPTJJ
BMJNFOUP
"NBOJUB[BNCJBOB
BMJNFOUP
$BOUIBSFMMVTDJCBSJVT
BMJNFOUP
$BOUIBSFMMVTDPOHPMFOTJT
BMJNFOUP
$BOUIBSFMMVTNJOJBUFTDFOT
BMJNFOUP
$BOUIBSFMMVTTZNPFOTJJ
BMJNFOUP
-BDUBSJVTLBCBOTVT
BMJNFOUP
-ZDPQFSEPO
BMJNFOUP
3VTTVMBDFMMVMBUB
BMJNFOUP
5FSNJUPNZDFTDMZQFBUVT
BMJNFOUP
5FSNJUPNZDFTTDIJNQFSJ
BMJNFOUP
"/&90
-JTUBHMPCBMEFIPOHPTTJMWFTUSFT
VTBEPTDPNPBMJNFOUP
DPOTJEFSBEPTBMJNFOUPZPDPO
QSPQJFEBEFTNFEJDJOBMFT
&TUPTSFHJTUSPTGVFSPOUPNBEPTEFNÃTEFGVFOUFTJODMVZFOEPEPDVNFOUPTMJCSPT
TJUJPT XFC Z PUSPT DPOUBDUPT -PT EFUBMMFT DPNQMFUPT TF FODVFOUSBO FO VOB CBTF EF
EBUPTFTUBCMFDJEBQPSFMBVUPS-PTOPNCSFTEFMBTFTQFDJFTIBOTJEPFTDSJUPTBTÎDPNP
BQBSFDFOFOMBQVCMJDBDJÓOPSJHJOBMDPOFYDFQDJÓOEFMPTFSSPSFTEFPSUPHSBGÎBPCWJPT
PFODBTPTFOMPTDVBMFTIBZBTJEPDBNCJBEPFMOPNCSFQSFGFSJEP$VBESP
$IBOH
Z.BP
BOBMJ[BOMPTIPOHPTQPSTVGPSNBEFOVUSJSTFTBQSÓGJUPTNJDPSSÎ[JDPT
FUD
8POH #VDIBOBO Z .BZ FOVNFSBO MPT IPOHPT DPNFTUJCMFT RVF TPO
NJDPSSÎ[JDPT -B MJUFSBUVSB NJDPMÓHJDB OP TJFNQSF FYQMJDB DPO DMBSJEBE TJ VO IPOHP
iDPNFTUJCMFu FT FGFDUJWBNFOUF iDPNJEPu .VDIBT FTQFDJFT FTUÃO FOVNFSBEBT FO
XXXXJMEVTFGVMGVOHJPSH
N
QSPQJFEBEFTNFEJDJOBMFT
/0.#3&$*&/5¶'*$0
640
/0.#3&$*&/5¶'*$0
640
"GSPCPMFUVTDPTUBUJTQPSB
DPNFTUJCMF
"HBSJDVTMJMBDFQT
DPNFTUJCMF
"GSPCPMFUVTMVUFPMVT
BMJNFOUP
"HBSJDVTNBDSPTQPSVT
DPNFTUJCMF
"HBSJDVTBCSVQUJCVMCVT
DPNFTUJCMF
"HBSJDVTNJDSPNFHFUIVT
DPNFTUJCMF
"HBSJDVTBNCPFOTJT
DPNFTUJCMF
"HBSJDVTOJWFTDFOT
DPNFTUJCMF
"HBSJDVTBSWFOTJT
BMJNFOUPN
"HBSJDVTQBUUFSTPOBF
DPNFTUJCMF
"HBSJDVTBVHVTUVT
BMJNFOUP
"HBSJDVTQFSPCTDVSVT
DPNFTUJCMF
"HBSJDVTCFOFTJJ
DPNFTUJCMF
"HBSJDVTQMBDPNZDFT
DPNFTUJCMF
"HBSJDVTCFSOBSEJJ
DPNFTUJCMF
"HBSJDVTSPENBOJ
DPNFTUJCMF
"HBSJDVTCJOHFOTJT
DPNFTUJCMF
"HBSJDVTSVCFMMVT
DPNFTUJCMF
"HBSJDVTCJTQPSVT
BMJNFOUPN
"HBSJDVTTJMWBUJDVT
BMJNFOUP
"HBSJDVTCJTQPSVTWBSBMCJEVT
DPNFTUJCMF
"HBSJDVTTJMWJDPMB
BMJNFOUP
"HBSJDVTCJTQPSVTWBSCJTQPSVT
DPNFTUJCMF
"HBSJDVTTRVBNVMJGFSVTWBSDBSPMJ
BMJNFOUP
"HBSJDVTCJUPSRVJT
BMJNFOUP
"HBSJDVTTVCFEVMJT
DPNFTUJCMF
"HBSJDVTCMB[FJ
DPNFTUJCMFN
"HBSJDVTTVCQFSPOBUVT
BMJNFOUP
"HBSJDVTDBNQFTUSJT
BMJNFOUPN
"HBSJDVTTVCSVGFTDFOT
BMJNFOUP
"HBSJDVTDPNUVMVT
BMJNFOUP
"HBSJDVTTVCSVUJMFTDFOT
BMJNFOUP
"HBSJDVTDSPDFPMVUFTDFOT
DPNFTUJCMF
"HSPDZCFBFHFSJUB
BMJNFOUP
"HBSJDVTDVQSFPCSVOOFVT
DPNFTUJCMF
"HSPDZCFCSPBEXBZJ
BMJNFOUP
"HBSJDVTFOEPYBOUIVT
DPNFTUJCMF
"HSPDZCFDZMJOESBDFB
DPNFTUJCMF
"HBSJDVTFSZUISPUSJDIVT
DPNFTUJCMF
"HSPDZCFGBSJOBDFB
DPNFTUJCMF
"HBSJDVTFTTFUUFJ
BMJNFOUP
"HSPDZCFQBMVEPTB
DPNFTUJCMF
"HBSJDVTGVTDPGJCSJMMPTVT
BMJNFOUP
"HSPDZCFQBSBTJUJDB
DPNFTUJCMF
"HBSJDVTGVTDPWFMBUVT
DPNFTUJCMF
"HSPDZCFQFEJBEFT
DPNFTUJCMF
"HBSJDVTHFOOBEJJ
DPNFTUJCMF
"HSPDZCFTBMJDBDJDPMB
DPNFTUJCMF
"HBSJDVTHPPTTFOTJBF
DPNFTUJCMF
"HSPDZCFWFSWBDUJ
DPNFTUJCMF
"HBSJDVTJNQVEJDVT
BMJNFOUP
"MCBUSFMMVTDPOGMVFOT
DPNFTUJCMFN
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
/0.#3&$*&/5¶'*$0
640
/0.#3&$*&/5¶'*$0
640
"MCBUSFMMVTPWJOVT
BMJNFOUP
"VSJDVMBSJBUFOVJT
DPNFTUJCMF
"MFVSJBBVSBOUJB
DPNFTUJCMF
#BOLFSBGVMJHJOFPBMCB
DPNFTUJCMF
"NBOJUBBMMJPEPSB
NFEJDJOBM
#BUUBSFBQIBMMPJEFT
NFEJDJOBM
"NBOJUBBVSFB
BMJNFOUP
#BUUBSSFBTUFWFOJJ
NFEJDJOBM
"NBOJUBCJOHFOTJT
DPNFTUJCMF
#KFSLBOEFSBGVNPTB
NFEJDJOBM
"NBOJUBDBFTBSFB
BMJNFOUP
#PMFUFMMVTBOBOBT
BMJNFOUP
"NBOJUBDBFTBSFBGTQ
BNFSJDBOB
BMJNFOUP
#PMFUFMMVTCFUVMB
BMJNFOUP
#PMFUFMMVTFNPEFOTJT
DPNFTUJCMF
"NBOJUBDBFTBSFPJEFT
DPNFTUJCMF
#PMFUFMMVTSVTTFMMJJ
BMJNFOUP
"NBOJUBDBMPQVT
DPNFTUJCMF
#PMFUJOVTBTJBUJDVT
DPNFTUJCMF
"NBOJUBDBMZQUSBUB
DPNFTUJCMF
#PMFUJOVTMBLFJ
DPNFTUJCMF
"NBOJUBDBMZQUSBUPJEFT
DPNFTUJCMF
#PMFUJOVTQJOFUPSVN
DPNFTUJCMF
"NBOJUBDBMZQUSPEFSNB
BMJNFOUP
#PMFUPQJTMFVDPNFMBFOB
DPNFTUJCMF
"NBOJUBDFDJMJBF
BMJNFOUP
#PMFUVTBFSFVT
DPNFTUJCMF
"NBOJUBDIFQBOHJBOB
DPNFTUJCMF
#PMFUVTBFTUJWBMJT
BMJNFOUP
"NBOJUBDPOTUSJDUB
DPNFTUJCMF
#PMFUVTBQQFOEJDVMBUVT
DPNFTUJCMF
"NBOJUBDSPDFB
BMJNFOUP
#PMFUVTBULJOTPOJJ
DPNFTUJCMF
"NBOJUBGMBNNFPMB
BMJNFOUP
#PMFUVTCBSSPXTJJ
DPNFTUJCMF
"NBOJUBGMBWPDPOJB
BMJNFOUP
#PMFUVTCJDPMPSPJEFT
BMJNFOUP
"NBOJUBGMBWPSVCFTDFOT
DPNFTUJCMF
#PMFUVTDBMPQVT
DPNFTUJCMF
"NBOJUBGVMWB
BMJNFOUP
#PMFUVTDJUSJGSBHSBOT
DPNFTUJCMF
"NBOJUBHFNNBUB
DPNFTUJCMF
#PMFUVTFEVMJT
BMJNFOUPN
"NBOJUBHPPTFOTJBF
DPNFTUJCMF
#PMFUVTFNPEFOTJT
DPNFTUJCMF
"NBOJUBIFNJCBQIB
BMJNFOUP
#PMFUVTFSZUISPQVT
BMJNFOUP
"NBOJUBIPWBF
DPNFTUJCMF
DPNFTUJCMF
"NBOJUBJOBVSBUB
BMJNFOUP
#PMFUVTFSZUISPQVTWBS
OPWPHVJOFFOTJT
"NBOJUBMPPTJJ
BMJNFOUP
#PMFUVTGFMMFVT
DPNFTUJCMF
"NBOJUBNVTDBSJB
NFEJDJOBM
#PMFUVTGSPTUJJ
BMJNFOUP
"NBOJUBQBDIZDPMFB
DPNFTUJCMF
#PMFUVTHSJTFVT
DPNFTUJCMF
"NBOJUBQFSQIBFB
BMJNFOUP
#PMFUVTMPZP
BMJNFOUP
"NBOJUBSIPEPQIZMMB
DPNFTUJCMF
#PMFUVTMVSJEJGPSNJT
DPNFTUJCMF
"NBOJUBSPCVTUB
DPNFTUJCMF
#PMFUVTMVSJEVT
DPNFTUJCMF
"NBOJUBSVCFTDFOT
BMJNFOUP
#PMFUVTNJDIPBDBOVT
BMJNFOUP
"NBOJUBUBO[BOJDB
DPNFTUJCMF
#PMFUVTOJHSPWJPMBDFVT
DPNFTUJCMF
"NBOJUBUV[B
BMJNFOUP
#PMFUVTQJOJDPMB
BMJNFOUP
"NBOJUBVNCPOBUB
BMJNFOUP
#PMFUVTQJOPQIJMVT
BMJNFOUP
"NBOJUBWBHJOBUB
BMJNFOUP
#PMFUVTSFHJVT
DPNFTUJCMF
"NBOJUBWFMPTB
DPNFTUJCMF
#PMFUVTSFUJDVMBUVT
BMJNFOUP
"NBOJUBWJSHJOFPJEFT
DPNFTUJCMF
#PMFUVTTFQBSBOT
DPNFTUJCMF
"NBOJUB[BNCJBOB
BMJNFOUP
#PMFUVTTQFDJPTVT
DPNFTUJCMF
"NBOJUJOBNBOHJOJBOB
BMJNFOUP
#PMFUVTUSVODBUVT
DPNFTUJCMF
"NBOJUPQTJTQVEJDB
DPNFTUJCMF
#PMFUVTWBSJJQFT
BMJNFOUP
"NBVSPEFSNBOJHFS
NFEJDJOBM
#PMFUVTWJPMBDFPGVTDVT
DPNFTUJCMF
"NBVSPEFSNBSVEF
NFEJDJOBM
#PMFUVTWJUFMMJOVT
DPNFTUJCMF
"SBDIOJPOBMCVN
BMJNFOUP
#PMFUVT[FMMFSJ
DPNFTUJCMF
"SNJMMBSJBEJTUBOT
DPNFTUJCMF
#POEBS[FXJBCFSLFMFZJJ
DPNFTUJCMF
"SNJMMBSJBMVUFPWJSFOT
BMJNFOUP
#POEBS[FXJBNPOUBOB
DPNFTUJCMF
"SNJMMBSJBNFMMFB
BMJNFOUPN
#PWJTUBBQFEJDFMMBUB
NFEJDJOBM
"SNJMMBSJBPTUPZBF
BMJNFOUP
#PWJTUBHJHBOUFB
DPNFTUJCMF
"SNJMMBSJBQPOEFSPTB
DPNFTUJCMF
#PWJTUBQJMB
NFEJDJOBM
"SNJMMBSJBUBCFTDFOT
BMJNFOUP
#PWJTUBQMVNCFB
DPNFTUJCMFN
"TQSPQBYJMMVTMFQJTUPJEFT
DPNFTUJCMF
#PWJTUBQMVNCFBWBSPWBMJTQPSB
BMJNFOUP
"TUSBFVTIZHSPNFUSJDVT
DPNFTUJCMFN
#PWJTUBQVTJMMB
NFEJDJOBM
"VSFPCBTJEJVNQVMMVMBOTWBS
QVMMVMBOT
NFEJDJOBM
#PWJTUFMMBTJOFOTJT
NFEJDJOBM
#VDIXBMEPCPMFUVTTQFDUBCJMJT
DPNFTUJCMF
"VSJDVMBSJBBVSJDVMBKVEBF
BMJNFOUPN
$BMPDFSBDPSOFB
DPNFTUJCMF
"VSJDVMBSJBEFMJDBUB
BMJNFOUP
$BMPDFSBWJTDPTB
DPNFTUJCMF
"VSJDVMBSJBGVTDPTVDDJOFB
DPNFTUJCMF
$BMPDZCFHBNCPTB
BMJNFOUPN
"VSJDVMBSJBNFTFOUFSJDB
DPNFTUJCMFN
$BMPDZCFJOEJDB
DPNFTUJCMF
"VSJDVMBSJBQPMZUSJDIB
DPNFTUJCMF
$BMPDZCFMFVDPDFQIBMB
DPNFTUJCMF
"OFYP-JTUBHMPCBMEFIPOHPTTFHÙOTVTQSPQJFEBEFTDPNFTUJCMFTBMJNFOUPTNFEJDJOBMFT
/0.#3&$*&/5¶'*$0
640
/0.#3&$*&/5¶'*$0
640
$BMWBUJBCPWJTUB
NFEJDJOBM
$ISPPHPNQIVTKBNBJDFOTJT
BMJNFOUP
$BMWBUJBDBFMBUB
DPNFTUJCMFN
$ISPPHPNQIVTSVUJMVT
BMJNFOUP
$BMWBUJBDSBOJJGPSNJT
NFEJDJOBM
$ISPPHPNQIVTWJOJDPMPS
BMJNFOUP
$BMWBUJBDZBUIJGPSNJT
BMJNFOUP
$MBEJOBTUFMMBSJT
BMJNFOUP
$BMWBUJBFYDJQVMJGPSNJT
DPNFTUJCMFN
$MBEPOJBTQQ
NFEJDJOBM
$BMWBUJBMJMBDJOB
DPNFTUJCMF
$MBWBSJBBMCJSBNFB
DPNFTUJCMF
$BMWBUJBQVSQVSFB
DPNFTUJCMF
$MBWBSJBBVSFB
DPNFTUJCMF
$BMWBUJBVUSJGPSNJT
DPNFTUJCMFN
$MBWBSJBDPSBMMPJEFT
BMJNFOUP
$BNBSPQIZMMVTOJWFVT
DPNFTUJCMF
$MBWBSJBQVSQVSFB
DPNFTUJCMF
$BNBSPQIZMMVTQSBUFOTJT
DPNFTUJCMF
$MBWBSJBWFSNJDVMBSJT
BMJNFOUP
$BNBSPQIZMMVTTVCQSBUFOTJT
DPNFTUJCMF
$MBWBSJBEFMQIVTDPLFSJ
BMJNFOUP
$BNBSPQIZMMVTWJSHJOFVT
DPNFTUJCMF
$MBWBSJBEFMQIVTQJTUJMMBSJT
BMJNFOUP
$BOUIBSFMMVMBVNCPOBUB
DPNFTUJCMF
$MBWBSJBEFMQIVTTBDIBMJOFOTJT
DPNFTUJCMF
$BOUIBSFMMVTDJCBSJVT
BMJNFOUPN
$MBWBSJBEFMQIVTUSVODBUVT
BMJNFOUP
$BOUIBSFMMVTDJCBSJVTWBS
EFGJCVMBUVT
DPNFTUJCMF
$MBWBSJBEFMQIVTVOJDPMPS
BMJNFOUP
$MBWJDFQTQVSQVSFB
NFEJDJOBM
$BOUIBSFMMVTDJCBSJVTWBS
MBUJGPMJVT
DPNFTUJCMF
$MBWJDPSPOBQZYJEBUB
BMJNFOUP
$BOUIBSFMMVTDJOFSFVT
DPNFTUJCMF
$MBWVMJOBBNFUIZTUJOB
DPNFTUJCMF
$BOUIBSFMMVTDJOOBCBSJOVT
DPNFTUJCMF
$MBWVMJOBDJOFSFB
BMJNFOUP
$BOUIBSFMMVTDPOHPMFOTJT
BMJNFOUP
$MBWVMJOBDSJTUBUB
BMJNFOUP
$BOUIBSFMMVTDZBOFTDFOT
DPNFTUJCMF
$MBWVMJOBSVHPTB
DPNFTUJCMF
$BOUIBSFMMVTDZBOPYBOUIVT
DPNFTUJCMF
$MBWVMJOPQTJTGVTJGPSNJT
DPNFTUJCMF
$BOUIBSFMMVTEFOTJGPMJVT
BMJNFOUP
$MBWVMJOPQTJTIFMWPMB
DPNFTUJCMF
$BOUIBSFMMVTFVDBMZQUPSVN
BMJNFOUP
$MBWVMJOPQTJTNJZBCFBOB
DPNFTUJCMF
$BOUIBSFMMVTGMPDDPTVT
DPNFTUJCMF
$MJNBDPDZTUJTCPSFBMJT
DPNFTUJCMF
$BOUIBSFMMVTGMPSJEVMVT
BMJNFOUP
$MJUPDZCFDMBWJQFT
BMJNFOUP
$BOUIBSFMMVTGPSNPTVT
DPNFTUJCMF
$MJUPDZCFHFPUSPQB
DPNFTUJCMF
$BOUIBSFMMVTJHOJDPMPS
BMJNFOUP
$MJUPDZCFHJCCB
BMJNFOUP
$BOUIBSFMMVTJODBSOBUVT
DPNFTUJCMF
$MJUPDZCFIZQPDBMBNVT
BMJNFOUP
$BOUIBSFMMVTJOGVOEJCVMJGPSNJT
DPNFTUJCMF
$MJUPDZCFJOGVOEJCVMJGPSNJT
DPNFTUJCMF
$BOUIBSFMMVTJTBCFMMJOVT
DPNFTUJCMF
$MJUPDZCFOFCVMBSJT
BMJNFOUP
$BOUIBSFMMVTMPOHJTQPSVT
BMJNFOUP
$MJUPDZCFPEPSB
DPNFTUJCMF
$BOUIBSFMMVTMVUFPDPNVT
DPNFTUJCMF
$MJUPDZCFTRVBNVMPTB
DPNFTUJCMF
$BOUIBSFMMVTMVUFPQVODUBUVT
DPNFTUJCMF
$MJUPDZCFTVBWFPMFOT
BMJNFOUP
$BOUIBSFMMVTNJOJBUFTDFOT
BMJNFOUP
$MJUPQJMVTBCPSUJWVT
NFEJDJOBM
$BOUIBSFMMVTNJOPS
BMJNFOUP
$MJUPQJMVTQSVOVMVT
BMJNFOUP
$BOUIBSFMMVTPEPSBUVT
BMJNFOUP
$PMMZCJBBDFSWBUB
DPNFTUJCMF
$BOUIBSFMMVTQMBUZQIZMMVT
DPNFTUJCMF
$PMMZCJBBOPNCF
DPNFTUJCMF
$BOUIBSFMMVTQTFVEPDJCBSJVT
BMJNFOUP
$PMMZCJBBUUFOVBUB
DPNFTUJCMF
$BOUIBSFMMVTQTFVEPGSJFTJJ
DPNFTUJCMF
$PMMZCJBBVSFB
DPNFTUJCMF
$BOUIBSFMMVTSVCFS
DPNFTUJCMF
$PMMZCJBCVUZSBDFB
BMJNFOUP
$BOUIBSFMMVTSVGPQVODUBUVT
DPNFTUJCMF
$PMMZCJBDPOGMVFOT
BMJNFOUP
$BOUIBSFMMVTSVGPQVODUBUVTWBS
PDISBDFVT
DPNFTUJCMF
$PMMZCJBDPOUPSUB
DPNFTUJCMF
$PMMZCJBEJTUPSUB
DPNFTUJCMF
DPNFTUJCMF
$PMMZCJBESZPQIJMB
DPNFTUJCMF
DPNFTUJCMF
$PMMZCJBGBNJMJB
DPNFTUJCMF
$BOUIBSFMMVTTVCDJCBSJVT
DPNFTUJCMF
$PMMZCJBPSPOHB
DPNFTUJCMF
$BOUIBSFMMVTTZNPFOTJJ
BMJNFOUP
$PMMZCJBQJQFSBUB
DPNFTUJCMF
$BOUIBSFMMVTUFOVJT
DPNFTUJCMF
$PMMZCJBQMBUZQIZMMB
DPNFTUJCMF
$BOUIBSFMMVTUVCJGPSNJT
BMJNFOUP
$PMMZCJBQPMZQIZMMB
DPNFTUJCMF
$BUBUIFMBTNBJNQFSJBMF
DPNFTUJCMF
$PMMZCJBQTFVEPDBMPQVT
BMJNFOUP
$BUBUIFMBTNBWFOUSJDPTVN
BMJNFOUP
$PMMZCJBSBEJDBUB
DPNFTUJCMF
$FSSFOBVOJDPMPS
NFEJDJOBM
$PMMZCJBTVCQSVJOPTB
BMJNFOUP
$FUSBSJBJTMBOEJDB
NFEJDJOBM
$PMMZCJBUBNBUBWBF
DPNFTUJCMF
$IBMDJQPSVTQJQFSBUVT
DPNFTUJCMF
$PMUSJDJBDJOOBNPNFB
NFEJDJOBM
DPNFTUJCMF
$PPLFJOBTVMDJQFT
DPNFTUJCMF
DPNFTUJCMF
$PPLFJOBUSJDIPMPNB
DPNFTUJCMF
$IPJSPNZDFTBCPSJHJOVN
BMJNFOUP
$PQSJOVTBDVNJOBUVT
DPNFTUJCMF
$IPJSPNZDFTNFBOESJGPSNJT
DPNFTUJCMF
$PQSJOVTBGSJDBOVT
BMJNFOUP
$BOUIBSFMMVTTQMFOEFOT
$BOUIBSFMMVTTVCBMCJEVT
$IMPSPQIZMMVNNBEBHBDBSJFOTF
$IMPSPQIZMMVNNPMZCEJUFT
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
/0.#3&$*&/5¶'*$0
640
/0.#3&$*&/5¶'*$0
640
$PQSJOVTBUSBNFOUBSJVT
DPNFTUJCMFN
&MBQIPNZDFTHSBOVMBUVT
NFEJDJOBM
$PQSJOVTDBTUBOFVT
DPNFTUJCMF
&OEPQIZMMVTZVOOBOFOTJT
DPNFTUJCMF
$PQSJOVTDJOFSFVT
DPNFTUJCMF
&OHMFSPNZDFTHPFU[JJ
NFEJDJOBM
$PQSJOVTDPNBUVT
DPNFTUJCMF
&OUFSJEJVNMZDPQFSEPO
DPNFTUJCMF
$PQSJOVTEJTTFNJOBUVT
DPNFTUJCMF
&OUPMPNBBCPSUJWVN
BMJNFOUP
$PQSJOVTNJDBDFVT
BMJNFOUP
&OUPMPNBBQSJMJT
DPNFTUJCMF
$PQSJOVTTUFSRVJMJOVT
DPNFTUJCMF
&OUPMPNBBSHZSPQVT
DPNFTUJCMF
$PSEJUVCFSBCPWPOFJ
DPNFTUJCMF
&OUPMPNBCMPYBNJ
DPNFTUJCMF
$PSEZDFQTNJMJUBSJT
NFEJDJOBM
&OUPMPNBDMZQFBUVN
BMJNFOUP
$PSEZDFQTPQIJPHMPTTPJEFT
NFEJDJOBM
&OUPMPNBDSBTTJQFT
DPNFTUJCMF
$PSEZDFQTTJOFOTJT
DPNFTUJCMFN
&OUPMPNBNBEJEVN
DPNFTUJCMF
$PSJPMVTDPOTPST
NFEJDJOBM
&OUPMPNBNJDSPDBSQVN
DPNFTUJCMF
$PSUJOBSJVTBMCPWJPMBDFVT
DPNFTUJCMF
&WFSOJBNFTPNPSQIB
NFEJDJOBM
$PSUJOBSJVTBSNFOJBDVT
DPNFTUJCMF
'BWPMVTBMWFPMBSVT
DPNFTUJCMF
$PSUJOBSJVTBSNJMMBUVT
DPNFTUJCMF
'BWPMVTCSBTJMJFOTJT
BMJNFOUP
$PSUJOBSJVTDMBSJDPMPSWBSUVSNBMJT
DPNFTUJCMF
'BWPMVTCSVOOFPMVT
BMJNFOUP
$PSUJOBSJVTDPMMJOJUVT
DPNFTUJCMF
'BWPMVTTUSJBUVMVT
BMJNFOUP
$PSUJOBSJVTFMBUJPS
DPNFTUJCMF
'BWPMVTUFTTFMBUVT
BMJNFOUP
$PSUJOBSJVTHMBVDPQVT
BMJNFOUP
'JCSPQPSJBWBJMMBOUJJ
NFEJDJOBM
$PSUJOBSJVTMBSHVT
DPNFTUJCMF
'JTUVMJOBIFQBUJDB
BMJNFOUPN
$PSUJOBSJVTPSJDIBMDFVT
DPNFTUJCMF
'MBNNVMJOBWFMVUJQFT
BMJNFOUPN
$PSUJOBSJVTQSBFTUBOT
BMJNFOUP
'MPDDVMBSJBBMCPMBOBSJQFT
DPNFTUJCMF
$PSUJOBSJVTQSBTJOVT
DPNFTUJCMF
'PNFTGPNFOUBSJVT
NFEJDJOBM
$PSUJOBSJVTQTFVEPTBMPS
DPNFTUJCMF
'PNFTNFMBOPQPSVT
NFEJDJOBM
$PSUJOBSJVTQVSQVSBTDFOT
DPNFTUJCMF
'PNJUPQTJTQJOJDPMB
NFEJDJOBM
$PSUJOBSJVTSVGPPMJWBDFVT
BMJNFOUP
'PNJUPQTJTVMNBSJB
NFEJDJOBM
$PSUJOBSJVTUFOVJQFT
DPNFTUJCMF
'VMJHPTFQUJDB
DPNFTUJCMF
$PSUJOBSJVTWBSJFDPMPS
DPNFTUJCMF
(BMJFMMBKBWBOJDB
NFEJDJOBM
$PUZMJEJBBVSBOUJBDB
DPNFTUJCMF
(BOPEFSNBBQQMBOBUVN
NFEJDJOBM
$SBUFSFMMVTBVSFVT
DPNFTUJCMF
(BOPEFSNBDBQFOTF
NFEJDJOBM
$SBUFSFMMVTDPSOVDPQJPJEFT
BMJNFOUPN
(BOPEFSNBDVSUJTJJ
NFEJDJOBM
$DPSOVDPQJPJEFTWBS
DPSOVDPQJPJEFT
DPNFTUJCMF
(BOPEFSNBMPCBUVN
NFEJDJOBM
(BOPEFSNBMVDJEVN
DPNFTUJCMFN
$DPSOVDPQJPJEFTWBS
QBSWJTQPSVT
DPNFTUJCMF
(BOPEFSNBTJOFOTF
NFEJDJOBM
$SBUFSFMMVTGBMMBY
BMJNFOUP
(BOPEFSNBUFOVF
NFEJDJOBM
$SFQJEPUVTBQQMBOBUVT
DPNFTUJCMF
(BOPEFSNBUSPQJDVN
NFEJDJOBM
$SFQJEPUVTNPMMJT
DPNFTUJCMF
(BOPEFSNBUTVHBF
DPNFTUJCMFN
$SPOBSUJVNDPOJHFOVN
DPNFTUJCMF
(BTUSPEJBFMBUB
DPNFTUJCMF
$SZQUPEFSNBDJUSJOVN
NFEJDJOBM
(BVUJFSJBNFYJDBOB
DPNFTUJCMF
$SZQUPQPSVTWPMWBUVT
NFEJDJOBM
(FBTUSVNGJNCSJBUVN
DPNFTUJCMF
$ZBUIVTMJNCBUVT
NFEJDJOBM
(FBTUSVNIZHSPNFUSJDVN
NFEJDJOBM
$ZBUIVTTUFSDPSFVT
NFEJDJOBM
(FBTUSVNTBDDBUVN
NFEJDJOBM
$ZNBUPEFSNBEFOESJUJDVN
DPNFTUJCMF
(FBTUSVNUSJQMFY
BMJNFOUPN
$FMFHBOTTVCTQ
JOGVOEJCVMJGPSNF
DPNFTUJCMF
(FPQPSBTQ
DPNFTUJCMF
(MPFPQPSVTDPODIPJEFT
BMJNFOUP
DPNFTUJCMF
(MPFPTUFSFVNJODBSOBUVN
DPNFTUJCMF
DPNFTUJCMF
(PNQIJEJVTHMVUJOPTVT
DPNFTUJCMF
DPNFTUJCMF
$ZTUPEFSNBBNJBOUIJOVN
$ZTUPEFSNBUFSSFJJ
$ZUUBSJBEBSXJOJJ
BMJNFOUP
(PNQIJEJVTNBDVMBUVT
$ZUUBSJBFTQJOPTBF
BMJNFOUP
(PNQIJEJVTQVSQVSBTDFOT
DPNFTUJCMF
$ZUUBSJBHVOOJJ
BMJNFOUP
(PNQIVTDMBWBUVT
BMJNFOUP
$ZUUBSJBIBSJPUJJ
BMJNFOUP
(PNQIVTGMPDDPTVT
BMJNFOUP
DPNFTUJCMF
(PNQIVTLBVGGNBOJJ
BMJNFOUP
DPNFTUJCMF
(PPTTFOTJBDJCBSJPJEFT
DPNFTUJCMF
%BDSZPQJOBYTQBUIVMBSJB
DPNFTUJCMF
(SJGPMBGSPOEPTB
DPNFTUJCMFN
%BFEBMFPQTJTDPOGSBHPTBWBS
USJDPMPS
NFEJDJOBM
(SJGPMBHBSHBM
BMJNFOUP
(ZNOPQJMVTFBSMFJ
BMJNFOUP
%BMEJOJBDPODFOUSJDB
NFEJDJOBM
(ZNOPQJMVTIJTQJEFMMVT
BMJNFOUP
%JDUZPQIPSBFDIJOPWPMWBUB
DPNFTUJCMF
(ZSPEPOJOUFSNFEJVT
BMJNFOUP
%JDUZPQIPSBJOEVTJBUBGMVUFB
DPNFTUJCMF
(ZSPEPOMJWJEVT
DPNFTUJCMF
$ZUUBSJBIPPLFSJ
%BDSZNZDFTQBMNBUVT
"OFYP-JTUBHMPCBMEFIPOHPTTFHÙOTVTQSPQJFEBEFTDPNFTUJCMFTBMJNFOUPTNFEJDJOBMFT
/0.#3&$*&/5¶'*$0
640
/0.#3&$*&/5¶'*$0
640
(ZSPEPONFSVMJPJEFT
DPNFTUJCMF
)ZQPNZDFTMBDUJGMVPSVN
BMJNFOUP
(ZSPNJUSBBNCJHVB
DPNFTUJCMF
)ZQPNZDFTNBDSPTQPSVT
DPNFTUJCMF
(ZSPNJUSBBOUBSUJDB
DPNFTUJCMF
)ZQTJ[ZHVTNBSNPSFVT
BMJNFOUP
(ZSPNJUSBFTDVMFOUB
DPNFTUJCMF
)ZQTJ[ZHVTUFTTVMBUVT
BMJNFOUP
(ZSPNJUSBJOGVMB
BMJNFOUP
*MFPEJDUZPODJCBSJVN
DPNFTUJCMF
(ZSPNJUSBVTTVSJFOTJT
DPNFTUJCMF
*OPDZCFTQ
DPNFTUJCMF
(ZSPQPSVTDBTUBOFVT
DPNFTUJCMF
*OPOPUVTIJTQJEVT
NFEJDJOBM
)FCFMPNBGBTUJCJMF
BMJNFOUP
*OPOPUVTPCMJRVVT
NFEJDJOBM
)FCFMPNBNFTPQIBFVN
BMJNFOUP
*TDIOPEFSNBSFTJOPTVN
NFEJDJOBM
)FMWFMMBBDFUBCVMVN
BMJNFOUP
,PCBZBTJBOJQQPOJDB
DPNFTUJCMF
)FMWFMMBDSJTQB
BMJNFOUP
,VFIOFSPNZDFTNVUBCJMJT
DPNFTUJCMF
)FMWFMMBFMBTUJDB
BMJNFOUP
-BDDBSJBBNFUIZTUFB
BMJNFOUP
)FMWFMMBJOGVMB
BMJNFOUP
-BDDBSJBBNFUIZTUFPPDDJEFOUBMJT
DPNFTUJCMF
)FMWFMMBMBDVOPTB
BMJNFOUP
-BDDBSJBBNFUIZTUJOB
BMJNFOUP
)FSJDJVNBCJFUJT
BMJNFOUP
-BDDBSJBCJDPMPS
BMJNFOUP
)FSJDJVNDBQVUVSTJ
DPNFTUJCMF
-BDDBSJBFEVMJT
DPNFTUJCMF
)FSJDJVNDMBUISPJEFT
DPNFTUJCMF
-BDDBSJBGBSJOBDFB
DPNFTUJCMF
)FSJDJVNDPSBMMPJEFT
DPNFTUJCMF
-BDDBSJBMBDDBUB
BMJNFOUP
)FSJDJVNFSJOBDFVT
BMJNFOUPN
-BDDBSJBQSPYJNB
BMJNFOUP
)FSJDJVNGMBHFMMVN
BMJNFOUP
-BDDBSJBTDSPCJDVMBUVT
DPNFTUJCMF
)FSJDJVNMBDJOJBUVN
DPNFTUJCMF
-BDDPDFQIBMVNNZMJUUBF
DPNFTUJCMF
)FSJDJVNSBNPTVN
DPNFTUJCMF
-BDSZNBSJBWFMVUJOB
DPNFTUJCMF
)FUFSPCBTJEJPOBOOPTVN
NFEJDJOBM
-BDUBSJVTBLBIBUTV
BMJNFOUP
)FYBHPOJBBQJBSJB
NFEJDJOBM
-BDUBSJVTBOHVTUVT
DPNFTUJCMF
)JSTDIJPQPSVTBCJFUJOVT
NFEJDJOBM
-BDUBSJVTBOOVMBUPBOHVTUJGPMJVT
BMJNFOUP
)JSTDIJPQPSVTGVTDPWJPMBDFVT
NFEJDJOBM
-BDUBSJVTDBNQIPSBUVT
DPNFTUJCMF
)PIFOCVFIFMJBQFUBMPJEFT
DPNFTUJCMF
-BDUBSJVTDBSCPOJDPMB
DPNFTUJCMF
)ZEOPQPMZQPSVTGJNCSJBUVT
DPNFTUJCMF
-BDUBSJVTDISZTPSSIFVT
DPNFTUJCMF
)ZEOPQPMZQPSVTQBMNBUVT
BMJNFOUP
-BDUBSJVTDPOHPMFOTJT
DPNFTUJCMF
)ZEOPUSZBUVMBTOFJ
DPNFTUJCMF
-BDUBSJVTDPOUSPWFSTVT
DPNFTUJCMF
)ZEOVNSFQBOEVN
BMJNFOUP
-BDUBSJVTDPSSVHVJT
BMJNFOUP
)ZEOVNVNCJMJDBUVN
DPNFTUJCMF
-BDUBSJVTEFMJDJPTVT
BMJNFOUP
)ZHSPDZCFDBOUIBSFMMVT
DPNFTUJCMF
-BDUBSJVTEFUFSSJNVT
DPNFTUJCMF
)ZHSPDZCFDPDDJOFB
DPNFTUJCMF
-BDUBSJVTEFOJHSJDBOT
BMJNFOUP
)ZHSPDZCFDPOJDB
DPNFTUJCMF
-BDUBSJVTEFOTJGPMJVT
BMJNFOUP
)ZHSPDZCFMBFUB
DPNFTUJCMF
-BDUBSJVTFEVMJT
DPNFTUJCMF
)ZHSPDZCFOJHSFTDFOT
BMJNFOUP
-BDUBSJVTGMBWJEVMVT
DPNFTUJCMF
)ZHSPDZCFPCSVTTFB
DPNFTUJCMF
-BDUBSJVTHZNOPDBSQPJEFT
BMJNFOUP
)ZHSPDZCFQTJUUBDJOB
DPNFTUJCMF
-BDUBSJVTHZNOPDBSQVT
BMJNFOUP
)ZHSPDZCFQVOJDFB
DPNFTUJCMF
-BDUBSJVTIBUTVEBLF
BMJNFOUP
)ZHSPDZCFVOHVJOPTB
DPNFTUJCMF
-BDUBSJVTIFJNJJ
BMJNFOUP
)ZHSPQIPSPQTJTBVSBOUJBDB
BMJNFOUP
-BDUBSJVTJOEJHP
BMJNFOUP
)ZHSPQIPSPQTJTNBOHFOPUJJ
DPNFTUJCMF
-BDUBSJVTJOTVMTVT
DPNFTUJCMF
)ZHSPQIPSVTBHBUIPTNVT
DPNFTUJCMF
-BDUBSJVTJOWFSTVT
DPNFTUJCMF
)ZHSPQIPSVTBSCVTUJWVT
DPNFTUJCMF
-BDUBSJVTKBQPOJDVT
DPNFTUJCMF
)ZHSPQIPSVTDBNBSPQIZMMVT
DPNFTUJCMF
-BDUBSJVTLBCBOTVT
BMJNFOUP
)ZHSPQIPSVTDISZTPEPO
BMJNFOUP
-BDUBSJVTMBFWJHBUVT
BMJNFOUP
)ZHSPQIPSVTFCVSOFVT
DPNFTUJCMF
-BDUBSJVTMBFUJDPMPS
DPNFTUJCMF
)ZHSPQIPSVTFSVCFTDFOT
DPNFTUJCMF
-BDUBSJVTMBUJGPMJVT
DPNFTUJCMF
)ZHSPQIPSVTMJNBDJOVT
DPNFTUJCMF
-BDUBSJVTMVUFPQVT
BMJNFOUP
)ZHSPQIPSVTMVDPSVN
DPNFTUJCMF
-BDUBSJVTNFEVTBF
BMJNFOUP
)ZHSPQIPSVTOJWFVT
BMJNFOUP
-BDUBSJVTNJUJTTJNVT
DPNFTUJCMF
)ZHSPQIPSVTPMJWBDFPBMCVT
DPNFTUJCMF
-BDUBSJVTOFDBUPS
DPNFTUJCMF
)ZHSPQIPSVTQFOBSJVT
DPNFTUJCMF
-BDUBSJVTQFMMJDVMBUVT
DPNFTUJCMF
)ZHSPQIPSVTQVEPSJOVT
DPNFTUJCMF
-BDUBSJVTQFMMJDVMBUVTGQBMMJEVT
DPNFTUJCMF
)ZHSPQIPSVTQVSQVSBTDFOT
BMJNFOUP
-BDUBSJVTQIMFCPQIZMMVT
BMJNFOUP
)ZHSPQIPSVTSVTTVMB
BMJNFOUP
-BDUBSJVTQJQFSBUVT
BMJNFOUP
)ZQIPMPNBTVCMBUFSJUJVN
BMJNFOUP
-BDUBSJVTQSJODFQT
DPNFTUJCMF
)ZQIPMPNBXBNCFOTJT
DPNFTUJCMF
-BDUBSJVTQTFVEPWPMFNVT
DPNFTUJCMF
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
/0.#3&$*&/5¶'*$0
640
/0.#3&$*&/5¶'*$0
640
-BDUBSJVTQVCFTDFOT
DPNFTUJCMF
-FOUJOVTWFMVUJOVT
BMJNFOUPN
-BDUBSJVTQZSPHBMVT
DPNFTUJCMF
-FO[JUFTCFUVMJOB
NFEJDJOBM
-BDUBSJVTRVJFUVT
DPNFTUJCMF
-FO[JUFTFMFHBOT
DPNFTUJCMF
-BDUBSJVTSFTJNVT
DPNFTUJCMF
-FQJPUBBTQFSB
DPNFTUJCMF
-BDUBSJVTSVCJEVT
DPNFTUJCMF
-FQJPUBDMZQFPMBSJB
DPNFTUJCMF
-BDUBSJVTSVCSJMBDUFVT
BMJNFOUP
-FQJPUBEJTDJQFT
DPNFTUJCMF
-BDUBSJVTSVCSPWJPMBTDFOT
DPNFTUJCMF
-FQJPUBHSBTTFJ
DPNFTUJCMF
-BDUBSJVTSVGVT
DPNFTUJCMF
-FQJPUBIFOOJOHTJJ
DPNFTUJCMF
-BDUBSJVTTBMNPOJDPMPS
BMJNFOUP
-FQJPUBNBEJSPLFMFOTJT
DPNFTUJCMF
-BDUBSJVTTBOHVJGMVVT
DPNFTUJCMF
-FQJPUBNBTUPJEFB
DPNFTUJCMF
-BDUBSJVTTDSPCJDVMBUVT
BMJNFOUP
-FQJPUBWFOUSJPTPTQPSB
DPNFTUJCMF
-BDUBSJVTTFTFNPUBOJ
DPNFTUJCMF
-FQJTUBDBFTQJUPTB
DPNFTUJCMF
-BDUBSJVTTVCEVMDJT
DPNFTUJCMF
-FQJTUBDBGGSPSVN
DPNFTUJCMF
-BDUBSJVTTVCJOEJHP
BMJNFOUP
-FQJTUBHMBVDPDBOB
DPNFTUJCMF
-BDUBSJVTUBO[BOJDVT
BMJNFOUP
-FQJTUBJSJOB
DPNFTUJCMF
-BDUBSJVTUPSNJOPTVT
DPNFTUJCMF
-FQJTUBMVTDJOB
DPNFTUJCMF
-BDUBSJVTUSJWJBMJT
DPNFTUJCMF
-FQJTUBOVEB
BMJNFOUPN
-BDUBSJVTWFMMFSFVT
DPNFTUJCMF
-FQJTUBQFSTPOBUB
BMJNFOUP
-BDUBSJVTWPMFNPJEFT
BMJNFOUP
-FQJTUBTPSEJEB
DPNFTUJCMF
-BDUBSJVTWPMFNVT
BMJNFOUPN
-FVDPBHBSJDVTCJTQPSVT
DPNFTUJCMF
-BDUBSJVTYFSBNQFMJOVT
BMJNFOUP
-FVDPBHBSJDVTIPSUFOTJT
BMJNFOUP
-BDUBSJVTZB[PPFOTJT
BMJNFOUP
-FVDPBHBSJDVTMFVDPUIJUFT
BMJNFOUP
-BDUPDPMMZCJBBFRVBUPSJBMJT
BMJNFOUP
-FVDPBHBSJDVTSIPEFDFQIBMVT
DPNFTUJCMF
-BFUJQPSVTTVMQIVSFVT
BMJNFOUP
-FVDPDPQSJOVTDIFJNPOPDFQT
BMJNFOUP
-BNQUFSPNZDFTKBQPOJDVT
NFEJDJOBM
-FVDPDPQSJOVTEJTDPJEFVT
DPNFTUJCMF
-BOHFSNBOOJBHJHBOUFB
DPNFTUJCMFN
-FVDPDPQSJOVTHBOEPVS
DPNFTUJCMF
-BOPQJMBOJQQPOJDB
DPNFTUJCMF
-FVDPDPQSJOVTJNFSJOFOTJT
DPNFTUJCMF
-BSJDJGPSNFTPGGJDJBOBMJT
DPNFTUJCMFN
-FVDPDPQSJOVTOBOJBOBF
DPNFTUJCMF
-BTJPTQIBFSBGFO[MJJ
NFEJDJOBM
-FVDPDPQSJOVTUBOFUFOTJT
DPNFTUJCMF
-FDDJOVNBVSBOUJBDVN
BMJNFOUP
-FVDPDPSUJOBSJVTCVMCJHFS
DPNFTUJCMF
-FDDJOVNDISPNBQFT
DPNFTUJCMF
-FVDPQBYJMMVTHJHBOUFVT
DPNFTUJCMF
-FDDJOVNFYUSFNJPSJFOUBMF
DPNFTUJCMF
-JHOPTVTTBDFS
NFEJDJOBM
-FDDJOVNHSJTFVN
BMJNFOUP
-JNBDFMMBHMJPEFSNB
DPNFTUJCMF
-FDDJOVNNBO[BOJUBF
DPNFTUJCMF
-JNBDFMMBJMMJOJUB
DPNFTUJCMF
-FDDJOVNPYZEBCJMF
DPNFTUJCMF
-PCBSJBQVMNPOBSJB
NFEJDJOBM
-FDDJOVNSVHPTJDFQT
DPNFTUJCMF
-PCBSJBTQ
BMJNFOUP
-FDDJOVNTDBCSVN
BMJNFOUP
-ZDPQFSEPOBTQFSVN
NFEJDJOBM
-FDDJOVNUFTUBDFPTDBCSVN
DPNFTUJCMF
-ZDPQFSEPODBOEJEVN
DPNFTUJCMF
-FDDJOVNWFSTJQFMMF
DPNFTUJCMF
-ZDPQFSEPOFOEPUFQISVN
DPNFTUJCMF
-FOUJOFMMVTDPDIMFBUVT
DPNFTUJCMF
-ZDPQFSEPOHFNNBUVN
DPNFTUJCMF
-FOUJOVMBCPSZBOB
BMJNFOUP
-ZDPQFSEPONBSHJOBUVN
DPNFTUJCMF
-FOUJOVMBFEPEFT
BMJNFOUPN
-ZDPQFSEPOPCMPOHJTQPSVN
DPNFTUJCMF
-FOUJOVMBMBUFSJUJB
DPNFTUJCMF
-ZDPQFSEPOQFDLJJ
BMJNFOUP
-FOUJOVTBSBVDBSJBF
DPNFTUJCMF
-ZDPQFSEPOQFSMBUVN
BMJNFOUPN
-FOUJOVTCSVOOFPGMPDDPTVT
DPNFTUJCMF
-ZDPQFSEPOQVTJMVN
DPNFTUJCMFN
-FOUJOVTDSJUJOVT
DPNFTUJCMF
-ZDPQFSEPOQZSJGPSNF
BMJNFOUPN
-FOUJOVTDMBEPQVT
DPNFTUJCMF
-ZDPQFSEPOSJNVMBUVN
DPNFTUJCMF
-FOUJOVTDPODIBUVT
DPNFTUJCMF
-ZDPQFSEPOTQBEJDFVN
NFEJDJOBM
-FOUJOVTDSJOJUVT
BMJNFOUP
-ZDPQFSEPOVNCSJOVN
BMJNFOUP
-FOUJOVTHMBCSBUVT
BMJNFOUP
DPNFTUJCMF
-FOUJOVTKBWBOJDVT
DPNFTUJCMF
-ZDPQFSEPOVNCSJOVNWBS
GMPDDPTVN
-FOUJOVTQSBFSJHJEVT
BMJNFOUP
-ZPQIZMMVNBHHSFHBUVN
DPNFTUJCMF
-FOUJOVTQSPMJGFS
DPNFTUJCMF
-ZPQIZMMVNDPOOBUVN
DPNFTUJCMF
-FOUJOVTTBKPSDBKV
DPNFTUJCMF
-ZPQIZMMVNEFDBTUFT
BMJNFOUPN
-FOUJOVTTRVBSSVMPTVT
BMJNFOUP
-ZPQIZMMVNGVNPTVN
DPNFTUJCMF
-FOUJOVTTUSJHPTVT
BMJNFOUP
-ZPQIZMMVNPWJTQPSVN
BMJNFOUP
DPNFTUJCMF
-ZPQIZMMVNTIJNFKJ
DPNFTUJCMF
-FOUJOVTUJHSJOVT
DPNFTUJCMF
-ZPQIZMMVNTZLPTQPSVN
DPNFTUJCMF
-FOUJOVTUVCFSSFHJVN
BMJNFOUPN
-ZPQIZMMVNVMNBSJVN
DPNFTUJCMF
-ZTVSVTNPLVTJO
NFEJDJOBM
-FOUJOVTTVCOVEVT
"OFYP-JTUBHMPCBMEFIPOHPTTFHÙOTVTQSPQJFEBEFTDPNFTUJCMFTBMJNFOUPTNFEJDJOBMFT
/0.#3&$*&/5¶'*$0
640
/0.#3&$*&/5¶'*$0
640
.BDSPDZCFHJHBOUFB
DPNFTUJCMF
.ZDFOBTUSVNDPSJVN
DPNFTUJCMF
.BDSPDZCFMPCBZFOTJT
BMJNFOUP
.ZDPMFQUPEPOPJEFTBJUDIJTPOJJ
DPNFTUJCMF
.BDSPDZCFTQFDUBCJMJT
BMJNFOUP
NFEJDJOBM
.BDSPMFQJPUBBGSJDBOB
DPNFTUJCMF
.ZSJPTDMFSPUJOJBDBSJDJT
BNQVMMBDFB
.BDSPMFQJPUBEPMJDIBVMB
DPNFTUJCMF
/FPDMJUPDZCFCJTTJTFEB
BMJNFOUP
.BDSPMFQJPUBFYDPSJBUB
BMJNFOUP
/FPMFOUJOVTBEIBFSFOT
DPNFTUJCMF
.BDSPMFQJPUBFYDPSJBUBWBS
SVCFTDFOT
DPNFTUJCMF
/FPMFOUJOVTMFQJEFVT
DPNFTUJCMF
/FPMFOUJOVTQPOEFSPTVT
BMJNFOUP
.BDSPMFQJPUBHSBDJMFOUB
DPNFTUJCMF
/PUIPQBOVTIZHSPQIBOVT
DPNFTUJCMF
.BDSPMFQJPUBHSBDJMFOUBWBS
HPPTTFOTJBF
DPNFTUJCMF
0NQIBMJBMBQJEFTDFOT
NFEJDJOBM
0OOJBUPNFOUPTB
NFEJDJOBM
.BDSPMFQJPUBQSPDFSB
BMJNFOUP
0QIJHMPTTVNFOHFMNBOOJJ
NFEJDJOBM
.BDSPMFQJPUBQSPDFSBWBSWF[P
DPNFTUJCMF
0TTJDBVMJTMJHOBUJMJT
DPNFTUJCMF
.BDSPMFQJPUBQSPNJOFOT
DPNFTUJCMF
0UJEFBPOPUJDB
DPNFTUJCMF
.BDSPMFQJPUBQVFMMBSJT
DPNFTUJCMF
DPNFTUJCMF
.BDSPMFQJPUBSIBDPEFT
DPNFTUJCMF
0VEFNBOTJFMMB
CSVOOFPNBSHJOBUB
.BDSPMFQJPUB[FZIFSJ
DPNFTUJCMF
0VEFNBOTJFMMBDBOBSJJ
BMJNFOUP
.BDSPQPEJBNBDSPQVT
BMJNFOUP
0VEFNBOTJFMMBNVDJEB
DPNFTUJCMF
.BSBTNJVTBMCPHSJTFVT
DPNFTUJCMF
0VEFNBOTJFMMBWFOPTMBNFMMBUB
DPNFTUJCMF
.BSBTNJVTBOESPTBDFVT
NFEJDJOBM
1BDIZNBIPFMFO
DPNFTUJCMF
.BSBTNJVTBSCPSFTDFOT
DPNFTUJCMF
1BFDJMPNZDFTTJOFOTJT
NFEJDJOBM
.BSBTNJVTCV[VOHPMP
DPNFTUJCMF
1BOFMMVTTFSPUJOVT
DPNFTUJCMF
.BSBTNJVTDBSZPQIZMMFVT
DPNFTUJCMF
1BOFMMVTTUJQUJDVT
NFEJDJOBM
.BSBTNJVTDSJOJTFRVJ
DPNFTUJCMF
1BOVTDPODIBUVT
DPNFTUJCMF
.BSBTNJVTHSBOEJTFUVMPTVT
DPNFTUJCMF
1BOVTDSJOJUVT
DPNFTUJCMF
.BSBTNJVTIFJOFNBOOJBOVT
DPNFTUJCMF
1BOVTGMBWVT
NFEJDJOBM
.BSBTNJVTIVOHP
DPNFTUJCMF
1BSNFMJBBVTUSPTJOFOTJT
BMJNFOUP
.BSBTNJVTNBYJNVT
DPNFTUJCMF
1BSNFMJBTVMDBUB
NFEJDJOBM
.BSBTNJVTPSFBEFT
BMJNFOUP
1BYJMMVTBUSPUPNFOUPTVT
DPNFTUJCMF
.BSBTNJVTQFSTPOBUVT
DPNFTUJCMF
1BYJOBBDFUBCVMVN
BMJNFOUP
.BSBTNJVTQJQFSPEPSB
DPNFTUJCMF
1FMUJHFSBDBOJOB
NFEJDJOBM
.BSBTNJVTQVSQVSFPTUSJBUVT
DPNFTUJCMF
1FSFOOJQPSJBNVOEVMB
NFEJDJOBM
.BSBTNJVTTDPSPEPOJVT
DPNFTUJCMF
1F[J[BCBEJB
BMJNFOUP
.FMBOPMFVDBBMCPGMBWJEB
DPNFTUJCMF
1F[J[BWFTJDVMPTB
DPNFTUJCMFN
.FMBOPMFVDBCSFWJQFT
DPNFTUJCMF
1IBFBOHJVNMFGFCWSFJ
DPNFTUJCMF
.FMBOPMFVDBFWFOPTB
DPNFTUJCMF
1IBFPMFQJPUBBVSFB
DPNFTUJCMF
.FMBOPMFVDBHSBNNPQPEJB
DPNFTUJCMF
1IBFPMVTTDIXFJOJU[JJ
NFEJDJOBM
.FMBOPMFVDBNFMBMFVDB
BMJNFOUP
1IBFPNBSBTNJVTBGGJOJT
DPNFTUJCMF
.FSJQJMVTHJHBOUFVT
BMJNFOUP
1IBMMVTGSBHSBOT
DPNFTUJCMF
.FSVMJVTJODBSOBUVT
BMJNFOUP
1IBMMVTJNQVEJDVT
DPNFTUJCMFN
.JDSPQPSVTBGGJOJT
DPNFTUJCMF
1IBMMVTJOEVTJBUVT
NFEJDJOBM
.JDSPQPSVTYBOUIPQVT
NFEJDJOBM
1IBMMVTUFOVJT
NFEJDJOBM
.JDSPQTBMMJPUBCSVOOFPTQFSNB
BMJNFOUP
1IFMMJOVTSJNPTVT
NFEJDJOBM
.PSDIFMMBBOHVTUJDFQT
DPNFTUJCMF
1IFMMJOVTCBVNJJ
NFEJDJOBM
.PSDIFMMBDPOJDB
BMJNFOUP
1IFMMJOVTDPODIBUVT
NFEJDJOBM
.PSDIFMMBDPOJDBWBSSJHJEB
DPNFTUJCMF
1IFMMJOVTJHOJBSJVT
NFEJDJOBM
.PSDIFMMBDPTUBUB
DPNFTUJCMF
1IFMMJOVTOJHSJDBOT
NFEJDJOBM
.PSDIFMMBDSBTTJQFT
BMJNFOUP
1IFMMPSJOJBJORVJOBOT
DPNFTUJCMF
.PSDIFMMBEFMJDJPTB
DPNFTUJCMFN
1IMFCPQVTDPMPTTVT
BMJNFOUP
.PSDIFMMBFMBUB
BMJNFOUP
1IMFCPQVTTVEBOJDVT
DPNFTUJCMF
.PSDIFMMBFTDVMFOUB
BMJNFOUPN
1IPMJPUBBEJQPTB
DPNFTUJCMF
.PSDIFMMBFTDVMFOUBWBSSPUVOEB
DPNFTUJCMF
1IPMJPUBBVSJWFMMB
DPNFTUJCMF
.PSDIFMMBFTDVMFOUBWBSVNCSJOB
DPNFTUJCMF
1IPMJPUBBVTUSPTQVNPTB
DPNFTUJCMF
.PSDIFMMBFTDVMFOUBWBSWVMHBSJT
DPNFTUJCMF
1IPMJPUBCJDPMPS
BMJNFOUP
.PSDIFMMBJOUFSNFEJB
DPNFTUJCMF
1IPMJPUBFEVMJT
DPNFTUJCMF
.PSHBOFMMBTVCJODBSOBUB
NFEJDJOBM
1IPMJPUBIJHIMBOEFOTJT
DPNFTUJCMF
.ZDFOBBTDIJ
DPNFTUJCMF
1IPMJPUBMFOUB
BMJNFOUP
.ZDFOBCJQJOEJFOTJT
DPNFTUJCMF
1IPMJPUBMVCSJDB
DPNFTUJCMF
.ZDFOBGMBWFTDFOT
DPNFTUJCMF
1IPMJPUBOBNFLP
DPNFTUJCMF
.ZDFOBQVSB
BMJNFOUP
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
/0.#3&$*&/5¶'*$0
640
/0.#3&$*&/5¶'*$0
640
1IPMJPUBTRVBSSPTB
DPNFTUJCMF
1PMZQPSVTSVHVMPTVT
NFEJDJOBM
1IZMMPQPSVTSIPEBYBOUIVT
DPNFTUJCMF
1PMZQPSVTTBOHVJOFVT
DPNFTUJCMF
1JDPBDBSUIVTJBOB
DPNFTUJCMF
1PMZQPSVTTBQVSFNB
BMJNFOUP
1JQUPQPSVTCFUVMJOVT
NFEJDJOBM
1PMZQPSVTTRVBNPTVT
DPNFTUJCMF
1JTPMJUIVTUJODUPSJVT
NFEJDJOBM
1PMZQPSVTTUJQJUBSJVT
BMJNFOUP
1MFVSPDZCFMMBQPSSJHFOT
DPNFTUJCMF
1PMZQPSVTUFOVJDVMVT
DPNFTUJCMF
1MFVSPUVTBCBMPOVT
DPNFTUJCMF
1PMZQPSVTUJOPTVT
NFEJDJOBM
1MFVSPUVTDJSDJOBUVT
DPNFTUJCMF
1PMZQPSVTUSJDIPMPNB
BMJNFOUP
1MFVSPUVTDJUSJOPQJMFBUVT
DPNFTUJCMF
1PMZQPSVTUVCBFGPSNJT
NFEJDJOBM
1MFVSPUVTDPODBWVT
BMJNFOUP
1PMZQPSVTUVCFSBTUFS
NFEJDJOBM
1MFVSPUVTDPSOVDPQJBF
BMJNFOUP
1PMZQPSVTVNCFMMBUVT
DPNFTUJCMFN
1MFVSPUVTDZTUJEJPTVT
DPNFTUJCMF
1PMZTUJDUVTVOJDPMPS
NFEJDJOBM
1MFVSPUVTEKBNPS
BMJNFOUP
1PSQIZSFMMVTBUSPCSVOOFVT
DPNFTUJCMF
1MFVSPUVTESZJOVT
BMJNFOUP
1PSQIZSFMMVTQTFVEPTDBCFS
DPNFTUJCMF
1MFVSPUVTFSZOHJJ
BMJNFOUP
1TBUIZSFMMBBUSPVNCPOBUB
BMJNFOUP
1MFVSPUVTFSZOHJJWBSGFSVMBF
DPNFTUJCMF
1TBUIZSFMMBDBOEPMMFBOB
BMJNFOUP
1MFVSPUVTGFSVMBF
DPNFTUJCMF
1TBUIZSFMMBDPQSJOPDFQT
BMJNFOUP
1MFVSPUVTGMFYJMJT
DPNFTUJCMF
1TBUISZFMMBIZNFOPDFQIBMB
BMJNFOUP
1MFVSPUVTGMPSJEBOVT
DPNFTUJCMF
1TBUIZSFMMBQVMVMJGPSNJT
DPNFTUJCMF
1MFVSPUVTGPTTVMBUVT
DPNFTUJCMF
1TBUIZSFMMBSVHPDFQIMB
DPNFTUJCMF
1MFVSPUVTMFWJT
BMJNFOUP
1TBUIZSFMMBTQBEJDFB
DPNFTUJCMF
1MFVSPUVTOFQBMFOTJT
DPNFTUJCMF
1TFVEPDSBUFSFMMVTMBFUJDPMPS
DPNFTUJCMF
1MFVSPUVTPTUSFBUPSPTFVT
DPNFTUJCMF
1TFVEPIZEOVNHFMBUJOPTVN
DPNFTUJCMF
1MFVSPUVTPTUSFBUVT
BMJNFOUPN
1TJMPCPMFUJOVTMBSJDFUJ
DPNFTUJCMF
1MFVSPUVTPTUSFBUVT
WBSNBHOJGJDVT
DPNFTUJCMF
1TJMPDZCFTQQ
NFEJDJOBM
1TJMPDZCF[BQPUFDPSVN
DPNFTUJCMF
1MFVSPUVTQVMNPOBSJVT
DPNFTUJCMF
1UZDIPWFSQBCPIFNJDB
BMJNFOUP
1MFVSPUVTSIPEPQIZMMVT
DPNFTUJCMF
1VMWFSPCPMFUVTBCFSSBOT
DPNFTUJCMF
1MFVSPUVTSPTFPQJMFBUVT
DPNFTUJCMF
1ZDOPQPSVTDJOOBCBSJOVT
DPNFTUJCMFN
1MFVSPUVTTBMJHOVT
DPNFTUJCMF
1ZDOPQPSVTDPDDJOFVT
NFEJDJOBM
1MFVSPUVTTBQJEVT
DPNFTUJCMF
1ZDOPQPSVTTBOHVJOFVT
BMJNFOUPN
1MFVSPUVTTNJUIJJ
DPNFTUJCMF
3BNBMJOBFDLMPOJJ
DPNFTUJCMF
1MFVSPUVTTQPEPMFVDVT
DPNFTUJCMF
3BNBSJBBQJDVMBUB
DPNFTUJCMF
1MFVSPUVTTRVBSSPTVMVT
BMJNFOUP
3BNBSJBBSBJPTQPSB
BMJNFOUP
1MJDBSJBCBEJB
DPNFTUJCMF
3BNBSJBBVSFB
BMJNFOUP
1MVUFVTBVSBOUJPSVHPTVT
BMJNFOUP
3BNBSJBCPOJJ
DPNFTUJCMF
1MVUFVTDFSWJOVT
BMJNFOUP
3BNBSJBCPUSZUJT
BMJNFOUP
1MVUFVTDFSWJOVTWBSFBMBFOTJT
DPNFTUJCMF
3BNBSJBCPUSZUPJEFT
DPNFTUJCMF
1MVUFVTDPDDJOFVT
DPNFTUJCMF
3BNBSJBDZTUJEJPQIPSB
DPNFTUJCMF
1MVUFVTMFPOJOVT
DPNFTUJCMF
3BNBSJBGJTUVMPTB
DPNFTUJCMF
1MVUFVTQFMMJUVT
DPNFTUJCMF
3BNBSJBGMBWB
BMJNFOUP
1MVUFVTTVCDFSWJOVT
DPNFTUJCMF
3BNBSJBGMBWPCSVOOFTDFOT
BMJNFOUP
1MVUFVTUSJDVTQJEBUVT
DPNFTUJCMF
BMJNFOUP
1PEBCSFMMBNJDSPDBSQB
DPNFTUJCMF
3BNBSJBGMBWPCSVOOFTDFOTWBS
BVSFB
1PEBYJTQJTUJMMBSJT
DPNFTUJCMFN
3BNBSJBGPSNPTB
DPNFTUJCMF
1PEPTDZQIBOJUJEVMB
DPNFTUJCMF
3BNBSJBGVTDPCSVOOFB
BMJNFOUP
1PHPOPNZDFTIZEOPJEFT
BMJNFOUP
3BNBSJBPCUVTJTTJNB
BMJNFOUP
1PMZP[FMMVTNVMUJQMFY
DPNFTUJCMF
3BNBSJBPDISBDFB
DPNFTUJCMF
1PMZQPSVTBMWFPMBSJT
NFEJDJOBM
3BNBSJBQVMDIFSSJNB
DPNFTUJCMF
1PMZQPSVTBRVPTVT
BMJNFOUP
3BNBSJBSPTFMMB
DPNFTUJCMF
1PMZQPSVTBSDVMBSJVT
BMJNFOUP
3BNBSJBSVCJHJOPTB
BMJNFOUP
1PMZQPSVTCBEJVT
DPNFTUJCMF
3BNBSJBSVCSJQFSNBOFOT
BMJNFOUP
1PMZQPSVTCMBODIFUJBOVT
DPNFTUJCMF
3BNBSJBTBOHVJOFB
BMJNFOUP
1PMZQPSVTCSBTJMJFOTJT
DPNFTUJCMF
3BNBSJBTUSJDUB
DPNFTUJCMF
1PMZQPSVTFMFHBOT
NFEJDJOBM
3BNBSJBTVCBVSBOUJBDB
BMJNFOUP
1PMZQPSVTHSBNNPDFQIBMVT
BMJNFOUP
3BNBSJBTVCCPUSZUJT
BMJNFOUP
1PMZQPSVTJOEJHFOVT
BMJNFOUP
3IJ[PQPHPOMVUFPMVT
DPNFTUJCMF
1PMZQPSVTNPMVDDFOTJT
DPNFTUJCMF
3IJ[PQPHPOQJDFVT
DPNFTUJCMF
1PMZQPSVTNZMJUUBF
BMJNFOUPN
3IJ[PQPHPOSPTFPMVT
DPNFTUJCMF
"OFYP-JTUBHMPCBMEFIPOHPTTFHÙOTVTQSPQJFEBEFTDPNFTUJCMFTBMJNFOUPTNFEJDJOBMFT
/0.#3&$*&/5¶'*$0
640
/0.#3&$*&/5¶'*$0
640
3IJ[PQPHPOSVCFTDFOT
DPNFTUJCMF
3VTTVMBRVFMFUJJ
DPNFTUJCMF
3IPEPQIZMMVTBQSJMJT
DPNFTUJCMF
3VTTVMBSPNBHOFTJBOB
BMJNFOUP
3IPEPQIZMMVTDMZQFBUVT
BMJNFOUP
3VTTVMBSPTBDFB
DPNFTUJCMF
3IPEPQIZMMVTDSBTTJQFT
DPNFTUJCMF
3VTTVMBSPTFB
DPNFTUJCMF
3JHJEPQPSVTTBOHVJOPMFOUVT
NFEJDJOBM
3VTTVMBSPTFPBMCB
DPNFTUJCMF
3JHJEPQPSVTVMNBSJVT
NFEJDJOBM
3VTTVMBSPTFPTUSJBUB
DPNFTUJCMF
3P[JUFTDBQFSBUVT
BMJNFOUP
3VTTVMBSVCSB
DPNFTUJCMF
3VCJOPCPMFUVTMVUFPQVSQVSFVT
DPNFTUJCMF
3VTTVMBSVCSPBMCB
DPNFTUJCMF
3VTTVMBBDJDVMPDZTUJT
DPNFTUJCMF
3VTTVMBTBOHVJOFB
BMJNFOUP
3VTTVMBBEVTUB
DPNFTUJCMF
3VTTVMBTBSEPOJB
DPNFTUJCMF
3VTTVMBBFSVHJOFB
BMJNFOUP
3VTTVMBTDIJ[PEFSNB
DPNFTUJCMF
3VTTVMBBGSPOJHSJDBOT
DPNFTUJCMF
3VTTVMBTFTF
DPNFTUJCMF
3VTTVMBBMCPOJHSB
DPNFTUJCMF
3VTTVMBTFTFOBHVMB
DPNFTUJCMF
3VTTVMBBMVUBDFB
BMJNFOUP
3VTTVMBTUSJBUPWJSJEJT
DPNFTUJCMF
3VTTVMBBNBFOEVN
DPNFTUJCMF
3VTTVMBTVCMBFWJT
DPNFTUJCMF
3VTTVMBBUSPQVSQVSFB
DPNFTUJCMF
3VTTVMBUBO[BOJBF
DPNFTUJCMF
3VTTVMBBUSPWJSFOT
DPNFTUJCMF
3VTTVMBWFTDB
DPNFTUJCMF
3VTTVMBBVSBUB
DPNFTUJCMF
3VTTVMBWJPMFJQFT
BMJNFOUP
3VTTVMBCSFWJQFT
BMJNFOUP
3VTTVMBWJSFTDFOT
BMJNFOUPN
3VTTVMBDFMMVMBUB
BMJNFOUP
3VTTVMBWJTDJEB
DPNFTUJCMF
3VTTVMBDIBNBFMFPOUJOB
DPNFTUJCMF
3VTTVMBYFSBNQFMJOB
BMJNFOUP
3VTTVMBDIMPSPJEFT
DPNFTUJCMF
4BSDPEPOBTQSBUVT
BMJNFOUP
3VTTVMBDJMJBUB
DPNFTUJCMF
4BSDPEPOJNCSJDBUVT
BMJNFOUP
3VTTVMBDPNQSFTTB
DPNFTUJCMF
4BSDPEPOMPCBUVT
DPNFTUJCMF
3VTTVMBDPOHPBOB
DPNFTUJCMF
4BSDPTDZQIBDPDDJOFB
BMJNFOUP
3VTTVMBDPOTPCSJOB
DPNFTUJCMF
4BSDPTQIBFSBFYJNJB
BMJNFOUP
3VTTVMBDZBOPYBOUIB
BMJNFOUP
4DIJ[PQIZMMVNCSFWJMBNFMMBUVN
DPNFTUJCMF
3VTTVMBDZDMPTQFSNB
DPNFTUJCMF
4DIJ[PQIZMMVNDPNNVOF
BMJNFOUPN
3VTTVMBEFMJDB
BMJNFOUP
4DIJ[PQIZMMVNGBTDJBUVN
DPNFTUJCMF
3VTTVMBEFOTJGPMJB
BMJNFOUP
4DMFSPEFSNBCPWPOFJ
DPNFTUJCMF
3VTTVMBEJGGVTBWBSEJGGVTB
DPNFTUJCMF
4DMFSPEFSNBDJUSJOVN
DPNFTUJCMF
3VTTVMBFCVSOFPBSFPMBUB
DPNFTUJCMF
4DMFSPEFSNBGMBWJEVN
NFEJDJOBM
3VTTVMBFNFUJDB
DPNFTUJCMF
4DMFSPEFSNBSBEJDBOT
DPNFTUJCMF
3VTTVMBFSZUISPQVT
DPNFTUJCMF
4DMFSPEFSNBUFYFOTF
DPNFTUJCMF
3VTTVMBGMBWB
DPNFTUJCMF
4DMFSPEFSNBWFSSVDPTVN
DPNFTUJCMFN
3VTTVMBGPFUFOT
BMJNFOUP
4DMFSPUJVNHMVDBOJDVN
NFEJDJOBM
3VTTVMBGSBHJMJT
DPNFTUJCMF
4DVUJHFSPWJOVT
DPNFTUJCMF
3VTTVMBIFJNJJ
DPNFTUJCMF
4FDPUJVNIJNBMBJDVN
DPNFTUJCMF
3VTTVMBIFUFSPQIZMMB
BMJNFOUP
4FDPUJVNTQ
NFEJDJOBM
3VTTVMBIJFNJTJMWBF
DPNFTUJCMF
4IJSBJBCBNCVTJDPMB
NFEJDJOBM
3VTTVMBMFQJEB
BMJNFOUP
4QBSBTTJTDSJTQB
BMJNFOUP
3VTTVMBMJCFSJFOTJT
DPNFTUJCMF
4QIBFSPUIBMMJBFTDVMFOUB
BMJNFOUP
3VTTVMBMVUFB
BMJNFOUP
4QPSJTPSJVNDSVFOUVN
BMJNFOUP
3VTTVMBNBDSPQPEB
DPNFTUJCMF
4UFSFPQTJTIJTDFOT
DPNFTUJCMF
3VTTVMBNBEFHBTTFOTJT
DPNFTUJCMF
4UFSFVNIJSTVUVN
NFEJDJOBM
3VTTVMBNBSJBF
BMJNFOUP
4UFSFVNNFNCSBOBDFVN
NFEJDJOBM
3VTTVMBNFYJDBOB
DPNFTUJCMF
4USPCJMPNZDFTDPOGVTVT
DPNFTUJCMF
3VTTVMBNJOVUVMB
DPNFTUJCMF
4USPCJMPNZDFTDPUVSOJY
DPNFTUJCMF
3VTTVMBOJHSJDBOT
BMJNFOUP
4USPCJMPNZDFTGMPDDPQVT
BMJNFOUP
3VTTVMBOJUJEB
DPNFTUJCMF
4USPCJMPNZDFTWFMVUJQFT
DPNFTUJCMF
3VTTVMBPDISPMFVDB
DPNFTUJCMF
4USPQIBSJBDPSPOJMMB
BMJNFOUP
3VTTVMBPMJWBDFB
BMJNFOUP
4USPQIBSJBSVHPTPBOOVMBUB
DPNFTUJCMF
3VTTVMBPMJWBTDFOT
DPNFTUJCMF
4VJMMVTBCJFUJOVT
DPNFTUJCMF
3VTTVMBPSOBUJDFQT
DPNFTUJCMF
4VJMMVTBDJEVT
DPNFTUJCMF
3VTTVMBQFDUJOBUPJEFT
DPNFTUJCMF
4VJMMVTBNFSJDBOVT
BMJNFOUP
3VTTVMBQIBFPDFQIBMB
DPNFTUJCMF
4VJMMVTCPWJOVT
DPNFTUJCMF
3VTTVMBQTFVEPBNBFOEVN
DPNFTUJCMF
4VJMMVTCSFWJQFT
BMJNFOUP
3VTTVMBQTFVEPTUSJBUPWJSJEJT
DPNFTUJCMF
4VJMMVTDBWJQFT
BMJNFOUP
3VTTVMBQVODUBUB
DPNFTUJCMF
4VJMMVTHSBOVMBUVT
BMJNFOUP
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
/0.#3&$*&/5¶'*$0
640
/0.#3&$*&/5¶'*$0
640
4VJMMVTHSFWJMMFJ
DPNFTUJCMFN
5SFNFMMBNFTFOUFSJDB
DPNFTUJCMFN
4VJMMVTIJSUFMMVT
BMJNFOUP
5SFNFMMBSFUJDVMBUB
BMJNFOUP
4VJMMVTMBDUJGMVVT
DPNFTUJCMF
5SFNFMMPEFOESPOTDIXFJOJU[JJ
DPNFTUJCMF
4VJMMVTMVUFVT
BMJNFOUPN
5SFNJTDVTIFMWFMMPJEFT
DPNFTUJCMF
4VJMMVTQMBDJEVT
DPNFTUJCMF
5SJDIBQUVNUSJDIPNBMMVN
BMJNFOUP
4VJMMVTQMPSBOT
DPNFTUJCMF
5SJDIPMPNBBUSPTRVBNPTVN
DPNFTUJCMF
4VJMMVTQTFVEPCSFWJQFT
BMJNFOUP
5SJDIPMPNBCBLBNBUTVUBLF
DPNFTUJCMF
4VJMMVTQVOHFOT
DPNFTUJCMF
5SJDIPMPNBDBMJHBUVN
BMJNFOUP
4VJMMVTTVCMVUFVT
DPNFTUJCMF
5SJDIPMPNBFRVFTUSF
BMJNFOUP
4VJMMVTUPNFOUPTVT
BMJNFOUP
5SJDIPMPNBGMBWPWJSFOT
BMJNFOUP
4VJMMVTWBSJFHBUVT
DPNFTUJCMF
5SJDIPMPNBGVMWVN
DPNFTUJCMF
4VJMMVTWJTDJEVT
DPNFTUJCMF
5SJDIPMPNBJNCSJDBUVN
DPNFTUJCMF
5FQISPDZCFBUSBUB
DPNFTUJCMF
5SJDIPMPNBKBQPOJDVN
DPNFTUJCMF
5FSGF[JBBSFOBSJB
DPNFTUJCMF
5SJDIPMPNBNBHOJWFMBSF
BMJNFOUP
5FSGF[JBCPVEJFSJ
DPNFTUJCMF
5SJDIPMPNBNBUTVUBLF
BMJNFOUPN
5FSGF[JBDMBWFSZJ
DPNFTUJCMF
5SJDIPMPNBNBVSJUJBOVN
DPNFTUJCMF
5FSGF[JBMFPOJT
DPNFTUJCMF
5SJDIPMPNBNPOHPMJDVN
DPNFTUJCMF
5FSGF[JBQGFJMJJ
BMJNFOUP
5SJDIPMPNBNVTDBSJVN
DPNFTUJCMF
5FSNJUPNZDFTBMCVNJOPTVT
BMJNFOUP
5SJDIPMPNBPSJSVCFOT
DPNFTUJCMF
5FSNJUPNZDFTBVSBOUJBDVT
BMJNFOUP
5SJDIPMPNBQFTTVOEBUVN
DPNFTUJCMF
5FSNJUPNZDFTDMZQFBUVT
BMJNFOUP
DPNFTUJCMF
5FSNJUPNZDFTDZMJOESJDVT
DPNFTUJCMF
5SJDIPMPNBQFTTVOEBUVNWBS
QPQVMJOVN
5FSNJUPNZDFTFOUPMPNPJEFT
DPNFTUJCMF
5SJDIPMPNBQPQVMJOVN
BMJNFOUP
5FSNJUPNZDFTFVSIJ[VT
BMJNFOUP
5SJDIPMPNBQPSUFOUPTVN
DPNFTUJCMF
5FSNJUPNZDFTGVMJHJOPTVT
DPNFTUJCMF
5SJDIPMPNBRVFSDJDPMB
DPNFTUJCMF
5FSNJUPNZDFTHMPCVMVT
BMJNFOUP
5SJDIPMPNBTBQPOBDFVN
DPNFTUJCMF
5FSNJUPNZDFTIFJNJJ
DPNFTUJCMF
5SJDIPMPNBTDBCSVN
DPNFTUJCMF
BMJNFOUP
5SJDIPMPNBTFKVODUVN
BMJNFOUP
5FSNJUPNZDFTNBNNJGPSNJT
BMJNFOUP
5SJDIPMPNBTQFDUBCJMJT
DPNFTUJCMF
5FSNJUPNZDFTNFEJVT
BMJNFOUP
5SJDIPMPNBTVMQIVSFVN
BMJNFOUP
5FSNJUPNZDFTNJDSPDBSQVT
BMJNFOUPN
5SJDIPMPNBUFSSFVN
DPNFTUJCMF
5FSNJUPNZDFTSBEJDBUVT
DPNFTUJCMF
5SJDIPMPNBVTUBMPJEFT
DPNFTUJCMF
BMJNFOUP
5SJDIPMPNBWBDDJOVN
DPNFTUJCMF
BMJNFOUP
5SJDIPMPNPQTJTEFDPSB
DPNFTUJCMF
5FSNJUPNZDFTTJOHJEFOTJT
BMJNFOUP
5SJDIPMPNPQTJTSVUJMBOT
DPNFTUJCMF
5FSNJUPNZDFTTUSJBUVT
DPNFTUJCMF
5SPHJBJOGVOEJCVMJGPSNJT
DPNFTUJCMF
5FSNJUPNZDFTTUSJBUVT
WBSBVSBOUJBDVT
DPNFTUJCMF
5VCFSBFTUJWVN
BMJNFOUP
5VCFSCPSDIJJ
BMJNFOUP
5FSNJUPNZDFTUJUBOJDVT
BMJNFOUP
5VCFSCSVNBMF
DPNFTUJCMF
5FSNJUPNZDFTVNLPXBBOJJ
DPNFTUJCMF
5VCFSDBMJGPSOJDVN
DPNFTUJCMF
5IFMFQIPSBHBOCBKVN
BMJNFOUP
5VCFSHJCCPTVN
DPNFTUJCMF
5IFMFQIPSBQBSBHVBZFOTJT
NFEJDJOBM
5VCFSIJFNBMCVN
DPNFTUJCMF
5JSNBOJBBGSJDBOB
DPNFTUJCMF
5VCFSJOEJDVN
DPNFTUJCMF
5JSNBOJBOJWFB
DPNFTUJCMF
5VCFSNBHOBUVN
BMJNFOUP
5JSNBOJBQJOPZJ
DPNFTUJCMF
5VCFSNFMBOPTQPSVN
BMJNFOUP
5SBNFUFTBMCJEB
NFEJDJOBM
5VCFSNFTFOUFSJDVN
DPNFTUJCMF
5SBNFUFTDVCFOTJT
BMJNFOUP
5VCFSNPTDIBUVN
DPNFTUJCMF
5SBNFUFTIJSTVUB
NFEJDJOBM
5VCFSPMJHPTQFSNVN
DPNFTUJCMF
5SBNFUFTPDISBDFB
BMJNFOUP
5VCFSSVGVN
DPNFTUJCMF
5SBNFUFTPSJFOUBMJT
NFEJDJOBM
5VCFSTJOPTVN
BMJNFOUP
5SBNFUFTQVCFTDFOT
NFEJDJOBM
5VCPTBFUBCSVOOFPTFUPTB
DPNFTUJCMF
5SBNFUFTSPCJOJPQIJMB
DPNFTUJCMF
5VMPTUPNBCSVNBMF
NFEJDJOBM
5SBNFUFTTBOHVJOFB
NFEJDJOBM
5ZMPQJMVTCBMMPVJJ
DPNFTUJCMF
5SBNFUFTTVBWFPMFOT
NFEJDJOBM
5ZMPQJMVTGFMMFVT
BMJNFOUP
5SBNFUFTWFSTJDPMPS
DPNFTUJCMFN
5ZSPNZDFTTVMQIVSFVT
NFEJDJOBM
5SFNFMMBBVSBOUJB
DPNFTUJCMFN
6NCJMJDBSJBFTDVMFOUB
BMJNFOUPN
5SFNFMMBDPODSFTDFOT
DPNFTUJCMF
6NCJMJDBSJBNVFIMFOCFSHJJ
BMJNFOUP
5SFNFMMBGPMJBDFB
DPNFTUJCMF
6TOFBIJSUB
NFEJDJOBM
5SFNFMMBGVDJGPSNJT
DPNFTUJCMFN
6TUJMBHPFTDVMFOUB
BMJNFOUPN
5SFNFMMBMVUFTDFOT
DPNFTUJCMF
6TUJMBHPNBZEJT
BMJNFOUPN
5FSNJUPNZDFTMFUFTUVJ
5FSNJUPNZDFTSPCVTUVT
5FSNJUPNZDFTTDIJNQFSJ
"OFYP-JTUBHMPCBMEFIPOHPTTFHÙOTVTQSPQJFEBEFTDPNFTUJCMFTBMJNFOUPTNFEJDJOBMFT
/0.#3&$*&/5¶'*$0
640
7BOEFSCZMJBVOHVMBUB
NFEJDJOBM
7BTDFMMVNDVSUJTJJ
DPNFTUJCMF
7BTDFMMVNHVEFOJJ
DPNFTUJCMF
7BTDFMMVNJOUFSNFEJVN
BMJNFOUP
7BTDFMMVNQSBUFOTF
DPNFTUJCMF
7FSQBDPOJDB
DPNFTUJCMF
7PMWBSJFMMBCBLFSJ
DPNFTUJCMF
7PMWBSJFMMBCPNCZDJOB
DPNFTUJCMF
7PMWBSJFMMBEJQMBTJB
DPNFTUJCMF
7PMWBSJFMMBFTDVMFOUB
BMJNFOUP
7PMWBSJFMMBQBSWJTQPSB
DPNFTUJCMF
7PMWBSJFMMBTQFDJPTB
DPNFTUJCMF
7PMWBSJFMMBUFSBTUSJB
DPNFTUJCMF
7PMWBSJFMMBWPMWBDFB
BMJNFOUPN
8PMGJQPSJBFYUFOTB
DPNFTUJCMFN
8ZOOFMMBTJMWJDPMB
DPNFTUJCMF
9BOUIPDPOJVNTFQBSBOT
DPNFTUJCMF
9FSPDPNVTCBEJVT
BMJNFOUP
9FSPDPNVTDISZTFOUFSPO
DPNFTUJCMF
9FSPDPNVTQBMMJEPTQPSVT
DPNFTUJCMF
9FSPDPNVTSVCFMMVT
DPNFTUJCMF
9FSPDPNVTTPZFSJ
DPNFTUJCMF
9FSPDPNVTTQBEJDFVT
DPNFTUJCMF
9FSPDPNVTTVCUPNFOUPTVT
BMJNFOUP
9FSPDPNVTWFSTJDPMPS
DPNFTUJCMF
9FSPNQIBMJOBDBNQBOFMMB
DPNFTUJCMFN
9FSVMBSBEJDBUB
NFEJDJOBM
9ZMBSJBQBQZSJHFSB
NFEJDJOBM
9ZMBSJBQPMZNPSQIB
NFEJDJOBM
9ZMPTNBGMFYVPTVN
DPNFTUJCMF
"/&90
)POHPTDPNFTUJCMFTZNFEJDJOBMFT
RVFQVFEFOTFSDVMUJWBEPT
&TUB MJTUB EF OPNCSFT IB TJEP QSFQBSBEB B QBSUJS EF 4UBNFUT Z $IBOH Z
.BP &M TJHOP iu JHVBM
EFOPUB FM OPNCSF DPNP QVCMJDBEP PSJHJOBMNFOUF Z
RVF EFTEF FOUPODFT IB TVGSJEP DBNCJPT &TUB MJTUB DPOUJFOF TÓMP FTQFDJFT TBQSÓGJUBT
ZFYDMVZFMBTFTQFDJFTFDUPNJDPSSÎ[JDBTUBMFTDPNPUSVGBTTQ5VCFS
DPOMBTDVBMFTTF
PQFSBFOTVBNCJFOUFOBUVSBM
/0.#3&$*&/5¶'*$0
/0.#3&$*&/5¶'*$0
/0.#3&$*&/5¶'*$0
"HBSJDVTBSWFOTJT
)FSJDJVNDPSBMMPJEFT
1BOFPMVTTVCBMUFBUVT
"HBSJDVTBVHVTUVT
)FSJDJVNFSJOBDFVN
"HBSJDVTCJTQPSVT
)ZQIPMPNBDBQOPJEFT
"HBSJDVTCJUPSRVJT
"HBSJDVTCMB[FJ
"HBSJDVTCSVOOFTDFOT
)ZQIPMPNBTVCMBUFSJUJVN
)ZQTJ[ZHVTNBSNPSFVT
)ZQTJ[ZHVTUFTTVMBUVT
1BOFPMVTUSPQJDBMJT
1IBMMVTJNQVEJDVT
1IFMMJOVTTQQ
1IPMJPUBOBNFLP
1JQUPQPSVTCFUVMJOVT
"HBSJDVTDBNQFTUSJT
*OPOPUVTPCMJRVVT
"HBSJDVTTVCSVGFTDFOT
,VFIOFSPNZDFTNVUBCJMJT
1MFVSPDZCFMMBQPSSJHFOT
-BFUJQPSVTTVMQIVSFVT
1MFVSPUVTDJUSJOPQJMFBUVT
"HSPDZCFBFHFSJUB
"HSPDZCFDZMJOESBDFB
"HSPDZCFNPMFTUB
"HSPDZCFQSBFDPY
"MCBUSFMMVTTQQ
"SNJMMBSJBNFMMFB
"VSJDVMBSJBBVSJDVMBKVEBF
"VSJDVMBSJBGVTDPTVDDJOFB
"VSJDVMBSJBQPMZUSJDIB
$BMWBUJBHJHBOUFB
$PQSJOVTDPNBUVT
%BFEBMFBRVFSDJOB
%JDUZPQIPSBEVQMJDBUB
'MBNNVMJOBWFMVUJQFT
'PNFTGPNFOUBSJVT
(BOPEFSNBBQQMBOBUVN
(BOPEFSNBDVSUJTJJ
(BOPEFSNBMVDJEVN
-BSJDJGPNFTPGGJDJOBMJT
'PNJUPQTJTPGGJDJOBMJT
-FOUJOVMBFEPEFT
-FOUJOVTTUSJHPTVT
1BOVTSVEJT
-FOUJOVTUJHSJOVT
-FOUJOVTUVCFSSFHJVN
-FQJTUBOVEB
-FQJTUBTPSEJEB
-ZPQIZMMVNGVNPTVN
-ZPQIZMMVNVMNBSJVN
)ZQTJ[ZHVTVMNBSJVN
.BDSPDZCFHJHBOUFB
5SJDIPMPNBHJHBOUFVN
.BDSPMFQJPUBQSPDFSB
.BSBTNJVTPSFBEFT
.PSDIFMMBBOHVTUJDFQT
.PSDIFMMBFTDVMFOUB
1JQUPQPSVTJOEJHFOVT
1MFVSPUVTDPSOVDPQJBF
1MFVSPUVTDZTUJEJPTVT
1MFVSPUVTEKBNPVS
1MFVSPUVTFSZOHJJ
1MFVSPUVTFVPTNVT
1MFVSPUVTPTUSFBUVT
1MFVSPUVTQVMNPOBSJVT
1MFVSPUVTSIPEPQIZMMVT
1MVUFVTDFSWJOVT
1PMZQPSVTJOEJHFOVT
1PMZQPSVTTBQPSFNB
1PMZQPSVTVNCFMMBUVT
%FOESPQPMZQPSVT
VNCFMMBUVT
1TJMPDZCFDZBOFTDFOT
4DIJ[PQIZMMVNDPNNVOF
4QBSBTTJTDSJTQB
4USPQIBSJBSVHVTPBOOVMBUB
(BOPEFSNBPSFHPOFOTF
/FPMFOUJOVTMFQJEFVT
-FOUJOVTMFQJEVT
(BOPEFSNBTJOFOTF
0MJHPQPSVTTQQ
(BOPEFSNBUFOVT
0VEFNBOTJFMMBSBEJDBUB
5SFNFMMBGVDJGPSNJT
(BOPEFSNBUTVHBF
0YZQPSVTOPCJMJTTJNVT
7PMWBSJFMMBCPNCBDZJOB
(SJGPMBGSPOEPTB
1BOFMMVTTFSPUJOVT
)PIFOCVFIFMJBTFSPUJOB
5SBNFUFTDJOOBCBSJOVN
5SBNFUFTWFSTJDPMPS
7PMWBSJFMMBWPMWBDFB
7WPMWBDFBWBSHMPJPDFQIBMB
"/&90
-PT)4$WFOEJEPTFOMPTNFSDBEPT
MPDBMFT
-PT TJHVJFOUFT FKFNQMPT TPO QSJODJQBMNFOUF EF QBÎTFT FO EFTBSSPMMP &T VOB QFRVFÒB
TFMFDDJÓOEFMBTNVDIBTFTQFDJFTRVFTPOWFOEJEBTFOUPEPFMNVOEPQBSUJDVMBSNFOUF
FO $IJOB -BT FTQFDJFT QPQVMBSFT UBMFT DPNP #PMFUVT FEVMJT $BOUIBSFMMVT DJCBSJVT Z
1MFVSPUVTPTUSFBUVTTFWFOEFOFONVDIPTQBÎTFTZOPMBTIFNPTJODMVJEP-BTFTQFDJFT
RVFTFWFOEFOFOMPTNFSDBEPTEF.BMBXJP.P[BNCJRVFTPOEJTQPOJCMFTQPSTFQBSBEP
FO FM TJUJP XFC XXXNBMBXJGVOHJPSH )BZ NFSDBEPT QBSB IPOHPT DPNFTUJCMFT FO MB
3FQÙCMJDB6OJEBEF5BO[BOÎB)ÅSLÕOFO
ZFO#VSVOEJ#VZDLC
QFSPTF
OFDFTJUBVMUFSJPSJOGPSNBDJÓOTPCSFMBTFTQFDJFTWFOEJEBT"MHVOPTNFSDBEPTSFQPSUBO
MJTUBTDPOTÓMPMPTOPNCSFTMPDBMFT
JOEJDBMBTFTQFDJFTRVFTPOUBNCJÊODVMUJWBEBTOPFTTJFNQSFDMBSPFMPSJHFORVFUJFOFO
FOBMHVOPTNFSDBEPT
"3.&/*"
/BOBHVZMBODPNVOJDBDJØOQFSTPOBM
"HBSJDVTDBNQFTUSJT
"HBSJDVTTJMWBUJDVT
"SNJMMBSJBNFMMFB
$BMPDZCFHBNCPTB
$BOUIBSFMMVTDJCBSJVT
-BDUBSJVTEFMJDJPTVT
-FQJTUBOVEB
-FQJTUBQFSTPOBUB
.BDSPMFQJPUBFYDPSJBUB
.BDSPMFQJPUBQSPDFSB
1MFVSPUVTFSZOHJJ
4VJMMVTHSBOVMBUVT
4VJMMVTMVUFVT
#0-*7*"
#PBDPNVOJDBDJØOQFSTPOBM
-FVDPBHBSJDVTIPSUFOTJT
%JDUZPQIPSBJOEVTJBUB
'MBNNVMJOBWFMVUJQFT
(BOPEFSNBMVDJEVN
)FSJDJVNFSJOBDFVT
)ZEOVNSFQBOEVN
-BDUBSJVTBLBIBUTV
-BDUBSJVTEFMJDJPTVT
-BDUBSJVTIBUTVEBLF
-BDUBSJVTTVCJOEJDP
-ZPQIZMMVNEFDBTUFT
1MFVSPUVTPTUSFBUVT
3BNBSJBTUSJDUB
3VTTVMBTQQ
5SJDIPMPNBNBUTVUBLF
5SJDIPMPNBRVFSDJDPMB
6NCJMJDBSJBFTDVMFOUB
(6"5&."-"
'MPSFTDPNVOJDBDJØOQFSTPOBM
)ZQPNZDFTMBDUJGMVPSVN
3BNBSJBBSBJPTQPSB
$)*-&
5SFNFMMBSFUJDVMBUB
.JOUFSDPNVOJDBDJØOQFSTPOBM
5SJDIPMPNBGMBWPWJSFOT
$ZUUBSJBFTQJOPTBF
*/%*"
$)*/"
$IBNCFSMBJO)ÊSLÚOFO1SJFTU
DPNVOJDBDJØOQFSTPOBM8JOLMFS
1VSLBZBTUIBZ$IBOESB
$PQSJOVTBDVNJOBUVT
5SJDIPMPNBTVMQIVSFVN
"HBSJDVTCMB[FJ
"VSJDVMBSJBBVSJDVMBKVEBF
*/%0/&4*"
#PMFUVTJOUIFCSPBETFOTF
%VDPVTTP#BZ5IPFO
#PMFUVTFEVMJT
$PSEZDFQTTJOFOTJT
4DMFSPEFSNBTQQ
-PTIPOHPTTJMWFTUSFTDPNFTUJCMFTQFSTQFDUJWBHMPCBMEFTVVTPFJNQPSUBODJBQBSBMBQPCMBDJÓO
,68"*5
"MTIFJLIZ5SBQQF
5JSNBOJBQJOPZJ
)ZHSPQIPSPQTJTBVSBOUJBDB
)ZHSPQIPSVTDISZTPEPO
)ZHSPQIPSVTOJWFVT
)ZHSPQIPSVTSVTTVMB
)ZQPNZDFTMBDUJGMVPSVN
."%"("4$"3
-BDDBSJBBNFUIZTUJOB
%VDPVTTP#BZ5IPFO
-BDDBSJBCJDPMPS
$BOUIBSFMMVTFVDBMZQUPSVN
-BDDBSJBMBDDBUB
-BDUBSJVTEFMJDJPTVT
-BDUBSJVTJOEJHP
.²9*$0
.POUPZB&TRVJWFM7JMMBSSFBMZ1FSF[
.PSFOPBXXXTFNBSOBUHPCNY
-BDUBSJVTTBMNPOJDPMPS
-BDUBSJVTZB[PPFOTJT
-BFUJQPSVTTVMQIVSFVT
"HBSJDVTDBNQFTUSJT
-FDDJOVNBVSBOUJBDVN
"HBSJDVTTJMWBUJDVT
-FOUJOVMBCPSZBOB
"NBOJUBDBFTBSFB
-FQJTUBOVEB
"NBOJUBDBFTBSFBWBSBNFSJDBOB
-ZDPQFSEPOQFSMBUVN
"NBOJUBGVMWB
-ZDPQFSEPOQZSJGPSNF
"NBOJUBSVCFTDFOT
-ZPQIZMMVNEFDBTUFT
"NBOJUBUV[B
-ZPQIZMMVNPWJTQPSVN
"NBOJUBWBHJOBUB
.BSBTNJVTPSFBEFT
"SNJMMBSJBNFMMFB
.PSDIFMMBDPOJDB
"SNJMMBSJBPTUPZBF
.PSDIFMMBDSBTTJQFT
"SNJMMBSJBUBCFTDFOT
.PSDIFMMBFMBUB
#PMFUVTCJDPMPSPJEFT
.PSDIFMMBFTDVMFOUB
#PMFUVTFEVMJT
1BYJOBBDFUBCVMVN
#PMFUVTGSPTUJJ
1IPMJPUBMFOUB
#PMFUVTQJOJDPMB
1MVUFVTBVSBOUJPSVHPTVT
#PMFUVTQJOPQIJMVT
1MVUFVTDFSWJOVT
#PMFUVTSFUJDVMBUVT
3BNBSJBBVSFB
#PMFUVTWBSJJQFT
3BNBSJBCPUSZUJT
$BMWBUJBDZBUIJGPSNJT
3BNBSJBGMBWPCSVOOFTDFOT
$BOUIBSFMMVTDJCBSJVT
3BNBSJBSVCJHJOPTB
$BOUIBSFMMVTPEPSBUVT
3BNBSJBSVCSJQFSNBOFOT
$BOUIBSFMMVTUVCBFGPSNJT
3IPEPQIZMMVTBCPSUJWVT&OUPMPNBBCPSUJWVN $ISPPHPNQIVTKBNBJDFOTJT
3P[JUFTDBQFSBUVT
$ISPPHPNQIVTSVUJMVT
3VTTVMBBMVUBDFB
$ISPPHPNQIVTWJOJDPMPS
3VTTVMBCSFWJQFT
$MBWBSJBEFMQIVTUSVODBUVT
3VTTVMBDZBOPYBOUIB
$MBWJDPSPOBQZYJEBUB
3VTTVMBEFMJDB
$MBWVMJOBDJOFSFB
3VTTVMBNBSJBF
$MJUPDZCFDMBWJQFT
3VTTVMBPMJWBDFB
$MJUPDZCFHJCCB
3VTTVMBSPNBHOFTJBOB
$PMMZCJBESZPQIJMB
3VTTVMBYFSBNQFMJOB
$PSUJOBSJVTHMBVDPQVT
4BSDPEPOJNCSJDBUVT
$SBUFSFMMVTDPSOVDPQJPJEFT
4BSDPTQIBFSBFYJNJB
$SBUFSFMMVTGBMMBY
4QBSBTTJTDSJTQB
&OUPMPNBDMZQFBUVN
4USPQIBSJBDPSPOJMMB
(PNQIVTDMBWBUVT
4VJMMVTBNFSJDBOVT
(PNQIVTGMPDDPTVT
4VJMMVTCSFWJQFT
(PNQIVTLBVGGNBOJJ
4VJMMVTDBWJQFT
(ZSPNJUSBJOGVMB
4VJMMVTHSBOVMBUVT
)FCFMPNBGBTUJCJMF
4VJMMVTMVUFVT
)FCFMPNBNFTPQIBFVN
4VJMMVTQTFVEPCSFWJQFT
)FMWFMMBBDFUBCVMB
5SJDIPMPNBGMBWPWJSFOT
)FMWFMMBDSJTQB
5SJDIPMPNBNBHOJWFMBSF
)FMWFMMBFMBTUJDB
5ZMPQJMVTGFMMFVT
)FMWFMMBJOGVMB
6TUJMBHPNBZEJT
)FMWFMMBMBDVOPTB
)ZHSPDZCFOJHSFTDFOT
"OFYP-PT)4$WFOEJEPTFOMPTNFSDBEPTMPDBMFT
/&1"-
3VTTVMBBFSVHJOFB
"EIJLBSJ"EIJLBSJZ%VSSJFV
3VTTVMBMFQJEB
$BOUIBSFMMVTDJCBSJVT
$MBWVMJOBDJOFSFB
$MBWVMJOBDSJTUBUB
3VTTVMBTBOHVJOFB
3VTTVMBWJPMFJQFT
7PMWBSJFMMBWPMWBDFB
$SBUFSFMMVTDPSOVDPQJPJEFT
(SJGPMBGSPOEPTB
)FSJDJVNFSJOBDFVT
56326¶"
4BCSBZ8BMUFS
)FSJDJVNGMBHFMMVN
#PMFUVTFEVMJT
)ZEOVNSFQBOEVN
$BOUIBSFMMVTDJCBSJVT
-BDDBSJBBNFUIZTUJOB
3IJ[PQPHPOTQ
-BDDBSJBMBDDBUB
5FSGF[JBCPVEJFSJ
-BFUJQPSVTTVMQIVSFVT
.FSJQJMVTHJHBOUFVT
1MVUFVTDFSWJOVT
1PMZQPSVTBSDVMBSJVT
3BNBSJBBVSFB
3BNBSJBCPUSZUJT
3BNBSJBGMBWB
3BNBSJBGVTDPCSVOOFB
3BNBSJBPCUVTJTTJNB
5FSNJUPNZDFTFVSIJ[VT
;".#*"
1FHMFSZ1JFBSDF
"NBOJUB[BNCJBOB
$BOUIBSFMMVTDJCBSJVT
$BOUIBSFMMVTEFOTJGPMJVT
$BOUIBSFMMVTMPOHJTQPSVT
$BOUIBSFMMVTNJOJBUFTDFOT
$BOUIBSFMMVTQTFVEPDJCBSJVT
-BDUBSJVTLBCBOTVT
4DIJ[PQIZMMVNDPNNVOF
3&1Á#-*$"%&.0$3«5*$"1016-"3-"0
)PTBLBDPNVOJDBDJØOQFSTPOBM
5FSNJUPNZDFTDMZQFBUVT
"NBOJUBIFNJCBQIB
5FSNJUPNZDFTUJUBOJDVT
1BOVTSVEJT
3BNBSJBTQ
3VTTVMBTQQ
4DIJ[PQIZMMVNDPNNVOF
5FSNJUPNZDFTTQ
3&1Á#-*$"6/*%"%&5"/;"/¶"
)ÊSLÚOFO4BBSJNÊLJZ.XBTVNCJB
-BDUBSJVTLBCBOTVT
-BDUBSJVTQIMFCPQIZMMVT
3VTTVMBDFMMVMBUB
5FSNJUPNZDFTMFUFTUVJ
5FSNJUPNZDFTTJOHJEFOTJT
4&/&("%VDPVTTP#BZ5IPFO
(ZSPEPOJOUFSNFEJVT
1IMFCPQVTTVEBOJDVT
5"*8«/1307*/$*"%&$)*/"
,BXBHPF
6TUJMBHPFTDVMFOUB
5"*-"/%*"
+POFT8IBMMFZZ)ZXFM+POFT
"VSJDVMBSJBTQ
$BOUIBSFMMVTNJOPS
-FOUJOVMBFEPEFT
-FOUJOVTQSBFSJHJEVT
5FSNJUPNZDFTNJDSPDBSQVT
los hongos silvestres comestibles son un grupo importante
de productos forestales no madereros. Son utilizados como
alimento y medicina y su venta proporciona ingresos
economicos a muchos usuarios de bosques y comerciantes.
Esta publicacion resume las caracterrsticas biologicas
y ecologicas de los hongos, y su ordenacion e importancia
para las poblaciones. la informacion ofrecida en
la publicacion sera de utilidad para los tecnicos forestales,
nutricionistas, planificadores de recursos naturales,
formuladores de polrticas y otras personas interesadas
que se encargan de evaluar las posibilidades
y limitaciones del uso sostenible de los hongos.
Descargar