programas licenciatura plan 1993

2TQITCOCU
Q
Q
C EWTUQU
.+%'0%+#674#'0
(+.1.1)›#+0).'5#
%ÉFKIQFG'UVWFKQU
'PXKIQTFGUFGGNEWTUQCECF¾OKEQ
&GRCTVCOGPVQFG(KNQNQIÃC+PINGUC
(CEWNVCFFG(KNQNQIÃC
7PKXGTUKFCF%QORNWVGPUGFG/CFTKF
.CUCUKIPCVWTCUCRCTGEGPQTFGPCFCURQTEKENQU[EWTUQU
5GJCPKPENWKFQÐPKECOGPVGNQURTQITCOCUFGNCUCUKIPCVWTCU
EW[CFQEGPEKCGUV±CUKIPCFCCN&GRCTVCOGPVQFG(KNQNQIÃC+PINGUC2QT
GNNQ PQ CRCTGEGP NQU EQTTGURQPFKGPVGU C CUKIPCVWTCU EQOQ .GPIWC
GURCÇQNC + .KPIÒÃUVKEC 6GQTÃC FG NC NKVGTCVWTC GVE %CFC CÇQ GN
&GRCTVCOGPVQFGEKFKT±SW¾CUKIPCVWTCUQRVCVKXCUXCCCEVKXCTRCTCGN
EWTUQUKIWKGPVG.QUCUGUVWFKCPVGUFGDGT±PKPHQTOCTUGCNTGURGEVQGP
NC5GETGVCTÃCFG#NWOPQUFGNC(CEWNVCF
%KWFCF7PKXGTUKVCTKCFG/CFTKFGPGTQFG
›PFKEG
2TQITCOCUFGNCUCUKIPCVWTCU C
2TKOGTEKENQ6TQPECNGU[QDNKICVQTKCU 2TKOGTEKENQ1RVCVKXCU 5GIWPFQEKENQ6TQPECNGU[QDNKICVQTKCU 5GIWPFQEKENQ1RVCVKXCU 5GEWGPEKC TGEQOGPFCFC GP SWG FGDGP
EWTUCTUGFGVGTOKPCFCUCUKIPCVWTCU ›PFKEGCNHCD¾VKEQFGRTQITCOCU 2TQITCOCU
EQTTGURQPFKGPVGUC
NCUCUKIPCVWTCUFG
2TKOGT%KENQ
6TQPECNGU[
QDNKICVQTKCU
#UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%NCXGU RCTC GN GUVWFKQ FG NC JKUVQTKC NKVGTCTKC KPINGUC
C 6TQPECN RCTC (KNQNQIÃC +PINGUC
D 6TQPECN EQTTGURQPFKGPVG C
(KNQNQIÃC
E 1RVCVKXC EQTTGURQPFKGPVG C
%N±UKEC 'UNCXC [ 4QO±PKEC
Q
Q
5GIWPFC NGPIWC [ UW NKVGTCVWTC 1VTCU 6KVWNCEKQPGU FG
5GIWPFC NGPIWC [ UW NKVGTCVWTC GT EKENQ RCTC (KNQNQIÃCU
%KENQ
%WTUQ
1DLGVKXQU
2TQRQTEKQPCT CN CNWOPQ WPC RGTURGEVKXC RCTC SWG C RCTVKT FG NC OKUOC RWGFC XGT [
EQORTGPFGT NC GXQNWEKÉP JKUVÉTKEC FG NC .KVGTCVWTC +PINGUC JCEKGPFQ GURGEKCN JKPECRK¾ GP NCU FKHGTGPEKCU
GPVTG NQU FKUVKPVQU RGTKQFQU CUÃ EQOQ WP RTKOGT CUQOQ C EKGTVQU VGZVQU ENCXGU FG NC .KVGTCVWTC +PINGUC
%QPVGPKFQ
2WGUVQ SWG GUVC GU WPC CUKIPCVWTC FG ECT±EVGT INQDCN G KPVGITCFQT GUVKOCOQU SWG UWU EQPVGPKFQU
JCP FG GUVCT GP HWPEKÉP FG FKEJQ ECT±EVGT 2QT VCPVQ ¾UVQU CDCTECT±P C EQPVGPKFQU FG ECT±EVGT
UQEKQEWNVWTCN GU FGEKT EQPVGZVWCN D HQTOCU FG ENCUKHKECT NQU VGZVQU NKVGTCTKQU KPINGUGU [ E XKUKÉP
KPVTQFWEVQTKC [ FKCETÉPKEC FG NQU RTKPEKRCNGU RGTKQFQU [ OQXKOKGPVQU FG NC *KUVQTKC .KVGTCTKC +PINGUC [
FG UWU TGRTGUGPVCPVGU O±U GOKPGPVGU
%CT±EVGT FG NCU RT±EVKECU
C %.#5'5 24Š%6+%#5 5G VTCDCLCT± UQDTG VGZVQU EQPETGVQU SWG GLGORNKHKSWGP NCU GZRNKECEKQPGU
VGÉTKECU JCEKGPFQ WP CP±NKUKU FGVCNNCFQ FG NC HQTOC GN EQPVGPKFQ [ NCU V¾EPKECU PCTTCVKXCU
D %.#5'5 6'¡4+%#5 5G RTQRQTEKQPCT± CN CNWOPQ NC KPHQTOCEKÉP RGTVKPGPVG UQDTG HGPÉOGPQU
UQEKQEWNVWTCNGU G JKUVÉTKEQU VTCPUOKVK¾PFQNG RQT VCPVQ CSWGNNQU EQPQEKOKGPVQU FG ECT±EVGT EQPVGZVWCN
PGEGUCTKQU RCTC WPC EQORTGPUKÉP KPVGITCFC FG NC NKVGTCVWTC &G KIWCN HQTOC UG KORCTVKT± VGQTÃC UQDTG
NQU O¾VQFQU FG ENCUKHKECEKÉP FG VGZVQU [ UQDTG NQU O±U KORQTVCPVGU OQXKOKGPVQU NKVGTCTKQU CUÃ EQOQ
UQDTG QDTCU [ CWVQTGU EQPETGVQU [ TGRTGUGPVCVKXQU
'XCNWCEKÉP
5GIÐP GN RTQHGUQTCFQ NQU O¾VQFQU FG GXCNWCEKÉP RQFT±P EQORTGPFGT FGUFG NC GNCDQTCEKÉP FG
VTCDCLQU [Q GZRQUKEKQPGU GP ENCUG JCUVC GZ±OGPGU SWG KPENW[CP RTWGDCU VGÉTKEQRT±EVKECU
$KDNKQITCHÃC D±UKEC
#061.1)›#5
*QNNCPFGT , GF ,GHHCTGU #0 CPF #NGZCPFGT / GFU
/CEOKNNCP -GCVKPI 2 GV CN GFU
6JG 1ZHQTF #PVJQNQI[ QH 'PINKUJ .KVGTCVWTG 8QNU 1ZHQTF /CEOKNNCP #PVJQNQQKGU QH 'PINKUJ .KVGTCVWTG 8QNU .QPFQP
.QPIOCP 'PINKUJ 5GTKGU .QPFQP .QPIOCO 6JG 0QTVQP #PVJQNQI[ QH 'PINKUJ .KVGTCVWTG 8NU .QPFQP 0QTVQP %Q &+%%+10#4+15
)TC[ /
# &KEVKQPCT[ QH .KVGTCT[ 6GTOU *CTNQY .QPIOCP 6JG %QPEKUG 1ZHQTF &KEVKQPCT[ QH .KVGTCT[ 6GTOU .QPFQP 172 'PE[ENQRCGFKC QH .KVGTCVWTG CPF %TKVKEKUO .QPFQP 4QWVNGFIG &TCDDNG /CTICTGV GF 6JG 1ZHQTF %QORCPKQP VQ 'PINKUJ .KVGTCVWTG .QPFQP 1ZHQTF 7 2TGUU N
#UKIPCVWTC
%WNVWTC [ UQEKGFCF EQPVGORQT±PGC GP NCU +UNCU $TKV±PKECU
%T¾FKVQU
%CT±EVGT
1DNKICVQTKC
%KENQ
Q
%WTUQ
Q
1DLGVKXQU
5G RTGVGPFG SWG NQU CNWOPQU CFSWKGTCP WPCU RQUVWTCU KPVGNGEVKXCU UQDTG WPC EWNVWTC HQT±PGC
NC DTKV±PKEC FG OCPGTC SWG UGRCP CPCNK\CT [ GXCNWCT UWU ECTCEVGTÃUVECU [ UW CRQTVCEKÉP G KPHNWGPEKC
GP GN OWPFQ EQPVGORQT±PGQ
%QPVGPKFQU
&GURW¾U FG WP TGUWOGP FG UWU CPVGEGFGPVGU JKUVÉTKEQU RGTUQPCLGU CEQPVGEKOKGPVQU [
OQXKOKGPVQU O±U KORQTVCPVGU UG GZCOKPCP FGUFG WPC RGTURGEVKXC UKPETÉPKEC NQU UKUVGOCU LWTÃFKEQ
UQEKQRQNÃVKEQ GFWECVKXQ FGOQIT±HKEQ [ EWNVWTCN CUÃ EQOQ NC KPHNWGPEKC FG PWGXCU VGPFGPEKCU
/GVQFQNQIÃC
/GFKCPVG NC NGEVWTC FG VGZVQU DKDNKQITCHÃC D±UKEC [ EQORNGOGPVCTKC CTVÃEWNQU FG RTGPUC GVE
[ QVTQU OGFKQU 68 EKPGGVE UG JCT± NNGICT CN CNWOPQ NCU ECTCEVGTÃUVKECU RTKPEKRCNGU FG NC EQORNGLC
TGCNKFCF UQEKQEWNVWTCN EQPVGORQT±PGC DTKV±PKEC
'XCNWCEKÉP
'N RTQHGUQT FG NC CUKIPCVWTC GUVCDNGEGT± NQU ETKVGTKQU FG GXCNWCEKÉP QRQTVWPQU CN RTKPEKRKQ FGN
EWTUQ
$KDNKQITCHÃC D±UKEC
.KHG KP /QFGTP $TKVCKP .QPFQP .QPIOCP 4QQO # #P #< QH $TKVKUJ .KHG 1ZHQTF 172 $TQOJGCF 2
$KDNKQITCHÃC EQORNGOGPVCTKC
(QTGKIP CPF %QOOQPYGCNVJ 1HHKEG (%1
#TVU KP $TKVCKP (%1 $TKVCKP CPF KVU 2GQRNG (%1 (%1 2CTNKCOGPVCT[ GNGEVKQPU KP $TKVCKP (%1 (%1 $TKVCKPU 5[UVGO QH )QXGTPOGPV (%1 (%1 ,WUVKEG CPF VJG .CY (%1 (%1
#UKIPCVWTC
(QP¾VKEC [ HQPQNQIÃC KPINGUCU
%T¾FKVQU
%CT±EVGT
C 1DNKICVQTKC RCTC (KNQNQIÃC +PINGUC
D 6TQPECN EQTTGURQPFKGPVG C
(KNQNQIÃC
E 1RVCVKXC EQTTGURQPFKGPVG C
%N±UKEC 'UNCXC [ 4QO±PKEC
%KENQ
Q
%WTUQ
Q
5GIWPFC NGPIWC [ UW NKVGTCVWTC GP QVTCU 6KVWNCEKQPGU FG
5GIWPFC NGPIWC [ UW NKVGTCVWTC GT EKENQ RCTC (KNQNQIÃCU
1DLGVKXQU [ EQPVGPKFQU
'N RTKPEKRCN QDLGVKXQ FGN EWTUQ GU SWG GN GUVWFKCPVG NNGIWG C EQPQEGT NQU RTKPEKRCNGU EQPEGRVQU
VGÉTKEQU FG NC HQP¾VKEC [ NC HQPQNQIÃC KPINGUCU [ GN UKUVGOC HQPQNÉIKEQ FG WPC XCTKCPVG GUVCPFCTK\CFC FG
GUVC NGPIWC RTGXKCOGPVG UGNGEEKQPCFC #UKOKUOQ NQU GUVWFKCPVGU FGDGT±P UGT ECRCEGU FG VTCPUETKDKT
RCNCDTCU [ VGZVQU DTGXGU RTGUGPVCFQU QTCNOGPVG Q RQT GUETKVQ FG WP PKXGN FG FKHKEWNVCF UKOKNCT CN HKLCFQ
GP NC CUKIPCVWTC FG
XGT R±I .GPIWC +PINGUC + FGUVTG\CU KPVGITCFCU
'P GN EWTUQ UG TGXKUCT±P NQU RTKPEKRCNGU EQPEGRVQU VGÉTKEQU FG NC HQP¾VKEC [ NC HQPQNQIÃC KPINGUCU
JCEKGPFQ GURGEKCN JKPECRK¾ GP NC HQP¾VKEC CTVKEWNCVQTKC 5G TGCNK\CT± NC FGUETKREKÉP [ ENCUKHKECEKÉP FG NQU
HQPGOCU EQTTGURQPFKGPVGU C WPC XCTKCPVG GUVCPFCTK\CFC FG NC NGPIWC KPINGUC 5G GUVCDNGEGT±P KIWCNOGPVG
NCU TGNCEKQPGU D±UKECU GPVTG RTQPWPEKCEKÉP [ ITCHÃC 2QT ÐNVKOQ UG VTCVCT±P EWGUVKQPGU TGNCVKXCU C NC
RCNCDTC CEGPVWCEKÉP [ FKHGTGPEKCU GPVTG RCNCDTCU [ UGEWGPEKCU HÉPKECU O±U CORNKCU [ UG TGCNK\CT± WPC
KPVTQFWEEKÉP C NQU HGPÉOGPQU FG TKVOQ ¾PHCUKU [ GPVQPCEKÉP
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU UG NNGXCT±P C ECDQ RTGHGTGPVGOGPVG GP ITWRQU TGFWEKFQU SWG RGTOKVCP TGCNK\CT
GLGTEKEKQU FG CP±NKUKU VTCPUETKREKÉP [ RTQPWPEKCEKÉP 5G TGCNK\CT±P CUKOKUOQ RT±EVKECU FG EQORTGPUKÉP
CWFKVKXC [ GZRTGUKÉP QTCN GP GN NCDQTCVQTKQ EW[Q QDLGVKXQ GU RGTOKVKT CN GUVWFKCPVG CRNKECT NQU
EQPQEKOKGPVQU CFSWKTKFQU RCTC OGLQTCT UW RTQPWPEKCEKÉP [ UW ECRCEKFCF FG EQOWPKECEKÉP QTCN
'XCNWCEKÉP
+PFGRGPFKGPVGOGPVG FG NCU RTWGDCU TGCNK\CFCU C NQ NCTIQ FGN EWCVTKOGUVTG GN GUVWFKCPVG FGDGT±
UWRGTCT WP GZCOGP HKPCN SWG EQPUKUVKT± GP NC VTCPUETKREKÉP FG RCNCDTCU [ VGZVQU DTGXGU 2QFT± CUKOKUOQ
TGCNK\CTUG WPC RTWGDC QTCN GP NC SWG UG NGGT± WP VGZVQ CRNKECPFQ NCU TGINCU HQP¾VKECU # GNNQ UG CÇCFKT±P
RTGIWPVCU UQDTG NQU EQPVGPKFQU VGÉTKEQU HWPFCOGPVCNGU FG NC CUKIPCVWTC
$KDNKQITCHÃC D±UKEC
.KDTQ FG VGZVQ
(KPEJ &( [ 1TVK\ .KTC * *GKPGOCPP
4QCEJ 2 # %QWTUG KP 'PINKUJ 2JQPGVKEU HQT 5RCPKUJ 5RGCMGTU .QPFTGU
'PINKUJ 2JQPGVKEU CPF 2JQPQNQI[ C 2TCEVKECN %QWTUG %CODTKFIG %72
&KEEKQPCTKQU FG HQP¾VKEC
'PINKUJ 2TQPQWPEKPI &KEVKQPCT[ VJ GF
6TCUM 4. # &KEVKQPCT[ QH 2JQPGVKEU CPF 2JQPQNQI[ .QPFQP 4QWVNGFIG
9GNNU ,% .QPIOCP 2TQPQWPEKPI &KEVKQPCT[ .QPFQP .QPIOCP
,QPGU &
#UKIPCVWTC
.GPIWC +PINGUC + FGUVTG\CU KPVGITCFCU
%T¾FKVQU
%CT±EVGT
C 6TQPECN RCTC (KNQNQIÃC +PINGUC
D 1RVCVKXC FG 2TQHWPFK\CEKÉP 1VTCU 6KVWNCEKQPGU FG (KNQNQIÃC %KENQ KPFKUV
%KENQ
Q
%WTUQ
Q
#UKIPCVWTC RTGNCVKXC EQP TGURGEVQ C
.GPIWC KPINGUC ++ FGUVTG\CU KPVGITCFCU XGT R±I 1DLGVKXQU [ EQPVGPKFQU
.C CUKIPCVWTC RCTVG FG WP PKXGN FG KPIN¾U KPKEKCN GSWKXCNGPVG C (KTUV %GTVKHKECVG 'N QDLGVKXQ GU
SWG GN CNWOPQ CHKCPEG [ FGUCTTQNNG UW FQOKPKQ FG NC NGPIWC KPINGUC JCUVC CNECP\CT GN PKXGN FG 2TG
2TQHKEKGPE[ GP NCU EWCVTQ FGUVTG\CU FG OCPGTC KPVGITCFC 5G JCT± JKPECRK¾ GP GN FQOKPKQ FG NCU
GUVTWEVWTCU D±UKECU N¾ZKECU [ ITCOCVKECNGU FG NC NGPIWC KPINGUC CUÃ EQOQ GP GN FGUCTTQNNQ FGN XQECDWNCTKQ
%CT±EVGT FG NCU RT±EVKECU
.CU ENCUGU UG NNGXCT±P C ECDQ RTGHGTGPVGOGPVG GP ITWRQU TGFWEKFQU SWG RGTOKVCP TGCNK\CT
CEVKXKFCFGU EQOWPKECVKXCU QTCNGU [ GUETKVCU GPECOKPCFCU C TGHQT\CT GN FQOKPKQ FG NCU GUVTWEVWTCU N¾ZKECU
[ ITCOCVKECNGU
'XCNWCEKÉP
+PFGRGPFKGPVGOGPVG FG NCU RTWGDCU TGCNK\CFCU C NQ NCTIQ FGN EWTUQ GN GUVWFKCPVG FGDGT± UWRGTCT
WP GZCOGP HKPCN EQP UGEEKQPGU EQTTGURQPFKGPVGU C NCU FGUVTG\CU QTCNGU [ GUETKVCU
.GEVWTCU D±UKECU TGEQOGPFCFCU
#P #< VQ 'PINKUJ )TCOOCT CPF 7UCIG .QPFQP 'FYCTF #TPQNF
5YCP / 2TCEVKECN 'PINKUJ 7UCIG 1ZHQTF 172
.GGEJ ) $KDNKQITCHÃC D±UKEC
.KDTQ FG VGZVQ EQTTGURQPFKGPVG
&KEEKQPCTKQ OQPQNKPIÒG
%QDWKNF 'PINKUJ &KEVKQPCT[
.QPIOCP &KEVKQPCT[ QH %QPVGORQTCT[ 'PINKUJ
#UKIPCVWTC
/QTHQUKPVCZKU KPINGUC
%T¾FKVQU
%CT±EVGT
C 1DNKICVQTKC RCTC (KNQNQIÃC +PINGUC
D 6TQPECN EQTTGURQPFKGPVG C
FG (KNQNQIÃC
5GIWPFC NGPIWC [ UW NKVGTCVWTC GP QVTCU 6KVWNCEKQPGU
5GIWPFC NGPIWC [ UW NKVGTCVWTC
E 1RVCVKXC EQTTGURQPFKGPVG C
(KNQNQIÃCU %N±UKEC 'UNCXC [ 4QO±PKEC
%KENQ
Q
%WTUQ
Q
GT EKENQ RCTC
1DLGVKXQU
'N GUVWFKCPVG EQPQEGT± NC FGHKPKEKÉP FG NCU WPKFCFGU ITCOCVKECNGU UWU HWPEKQPGU EGPVTCNGU [
OCTIKPCNGU [ UWU ECTCEVGTÃUVKECU HQTOCNGU 5GT± ECRC\ FG CPCNK\CT [ GUSWGOCVK\CT OGFKCPVG PQVCEKQPGU
HQTOCNGU UGPEKNNCU FKUVKPVCU GUVTWEVWTCU FG NC NGPIWC KPINGUC
%QPVGPKFQU
'N EWTUQ EQPUKUVKT± GP NC FGUETKREKÉP IGPGTCN FG NCU GUVTWEVWTCU ITCOCVKECNGU FG NC NGPIWC KPINGUC
FGUFG WP RWPVQ FG XKUVC VGÉTKEQ 5G CDQTFCT± NC ECVGIQTK\CEKÉP FG NQU FKUVKPVQU GNGOGPVQU [ WPKFCFGU
UWU HWPEKQPGU UKPV±EVKECU [ NCU RQUKDKNKFCFGU EQOWPKECVKXCU SWG QHTGEGP FKUVKPVCU GUVTWEVWTCU
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU GP ENCUG Q GP ITWRQU TGFWEKFQU UG FGFKECT±P CN CP±NKUKU FGVCNNCFQ FG GUVTWEVWTCU
PQOKPCNGU XGTDCNGU [ QTCEKQPCNGU FG WP PKXGN FG FKHKEWNVCF OGFKQCNVQ UGIÐP NQU RNCPVGCOKGPVQU
VGÉTKEQU RTQRWGUVQU
'XCNWCEKÉP
'N GZCOGP GXCNWCT± GN EQPQEKOKGPVQ FG EQPEGRVQU [ ECVGIQTÃCU OQTHQUKPV±EVKECU G KPENWKT± GN
CP±NKUKU FG QTCEKQPGU GP WP PKXGN EQTTGURQPFKGPVG C NCU WPKFCFGU GUVWFKCFCU GP
.GPIWC KPINGUC +
&GUVTG\CU KPVGITCFCU
.GEVWTCU D±UKECU TGEQOGPFCFCU
'PINKUJ 5[PVCEVKE 5VTWEVWTGU 1ZHQTF 2GTICOQP
&QYPKPI # # 7PKXGTUKV[ %QWTUG KP 'PINKUJ )TCOOCT .QPFQP 2TGPVKEG *CNN
)TGGPDCWO 5 CPF 5XCTVXKM , # 5VWFGPVU )TCOOCT QH 'PINKUJ
3WKTM 4 )TGGPDCWO 5 # 7PKXGTUKV[ )TCOOCT QH 'PINKUJ .QPFQP .QPIOCP
3WKTM GV CN # %QORTGJGPUKXG )TCOOCT QH VJG 'PINKUJ .CPIWCIG .QPFQP .QPIOCP
#CTVU ( CPF #TVU , #UKIPCVWTC
%T¾FKVQU
%CT±EVGT
.C PQXGNC KPINGUC FGN UKINQ ::
C 6TQPECN RCTC (KNQNQIÃC +PINGUC
D 1RVCVKXC FG 2TQHWPFK\CEKÉP 1VTCU 6KVWNCEKQPGU FG (KNQNQIÃC %KENQ KPFKUV
%KENQ
Q
%WTUQ
Q
#UKIPCVWTC RTGNCVKXC EQP TGURGEVQ C
XGT R±I 'XQNWEKÉP FG NC PQXGNC KPINGUC JCUVC GN UKINQ ::
1DLGVKXQU
&CT CN CNWOPQ WPC ENCTC XKUKÉP FG NCU KPHNWGPEKCU NCU OQVKXCEKQPGU NCU ECTCEVGTÃUVKECU NC
VGO±VKEC NC HKPCNKFCF [ NQU GUVKNQU PCTTCVKXQU FG NC HKEEKÉP FGN UKINQ :: UKGORTG DCUCFC GP GN GUVWFKQ
KPVGPUKXQ FG NQU VGZVQU 'N CNWOPQ VGPFT± SWG UGT ECRC\ FG KPVGTRTGVCT WPC PQXGNC CVGPFKGPFQ C CURGEVQU
EQOQ VGO±VKEC ECTCEVGTK\CEKÉP GUVKNQ RWPVQ FG XKUVC PCTTCVKXQ [ UKODQNKUOQ
%QPVGPKFQ
#URGEVQU NKVGTCTKQU FG NC ¾RQEC 2QUVXKEVQTKCPC [ GUVWFKQ FG NQU RTKPEKRCNGU CWVQTGU 'FWCTFKCPQU 'N
PCEKOKGPVQ FG NC NKVGTCVWTC OQFGTPC /QFGTPKUOQ OQXKOKGPVQU NKVGTCTKQU ECTCEVGTÃUVKECU FG NC
HKEEKÉP OQFGTPKUVC CURGEVQU HQTOCNGU FG NC PQXGNC GZRGTKOGPVCN [ GUVWFKQ KPVGPUKXQ FG UWU
TGRTGUGPVCPVGU 'UETKVQTGU FG NQU CÇQU [ RQNÃVKEC [ NKVGTCVWTC .C PQXGNC C RCTVKT FG NQU CÇQU
&G NC PQXGNC GZRGTKOGPVCN C NC HKEEKÉP %QPVGORQT±PGC
%CT±EVGT FG NCU 2T±EVKECU
%.#5'5 24#%6+%#5 5G VTCDCLCT±P NCU NGEVWTCU QDNKICVQTKCU RTKPEKRCNOGPVG RCTC NQ EWCN UG FKXKFKT±
C NC ENCUG GP ITWRQU TGFWEKFQU [ UG GPECTICT± C ECFC ITWRQ NC RTGRCTCEKÉP [ RQUVGTKQT RTGUGPVCEKÉP GP
ENCUG FG NC PQXGNC SWG UG NG JC[C CUKIPCFQ 'UVQ C UW XG\ HQOGPVCTC NC RCTVKEKRCEKÉP FGN TGUVQ FGN
CNWOPCFQ GP GN FGDCVG SWG UWEGFGT± C NC GZRQUKEKÉP .QU CNWOPQU IWKCFQU RQT GN RTQHGUQT RQFT±P
TGCNK\CT VTCDCLQU FG KPXGUVKICEKÉP FG ECT±EVGT XQNWPVCTKQ
%.#5'5 6'14+%#5 5G RTQRQTEKQPCT± CN CNWOPQ NC KPHQTOCEKÉP RGTVKPGPVG UQDTG NQU EQPVGPKFQU CTTKDC
KPFKECFQU [ UG NG FCT±P WPCU DCUGU ETÃVKECU RCTC GN CP±NKUKU FG NQU VGZVQU
$KDNKQITCHÃC D±UKEC
6JG 'PINKUJ 0QXGN
# )WKFG VQ 6YGPVKGVJ %GPVWT[ .KVGTCVWTG KP 'PINKUJ
6JG 0QXGN 6QFC[ %QPVGORQTCT[ 9TKVGTU QP /QFGTP (KEVKQP
6JG /QFGTP 9QTNF VGP )TGCV 9TKVGTU
6JG %QPVGORQTCT[ 'PINKUJ 0QXGN
6JG 0GY 2GNKECP )WKFG VQ 'PINKUJ .KVGTCVWTG
#URGEVU QH VJG 0QXGN
6JG 'PINKUJ 0QXGN KP VJG 6YGPVKGVJ %GPVWT[ 6JG &QQO QH 'ORKTG
/CEOKNNCP *KUVQT[ QH 'PINKUJ .KVGTCVWTG
6YGPVKGVJ%GPVWT[ 'PINKUJ
.KVGTCVWTG
4GCNKUO CPF 2QYGT 2QUVOQFGTP $TKVKUJ (KEVKQP
6JG 0QXGNKUV CV VJG %TQUUTQCFU CPF 1VJGT GUUC[U QP (KEVKQP CPF %TKVKEKUO
6JG 5WTXKXCN QH VJG 0QXGN $TKVKUJ (KEVKQP KP VJG .CVGT 6YGPVKGVJ %GPVWT[
#NNGP9
.QPFQP 2GPIWKP $NCOKTGU* GF
.QPFQP 4QWVNGFIG $TCFDWT[ / GF
)NCUIQY (QPVCPC
.QPFQP 2GPIWKP CPF 2CNOGT & GF
.QPFQP #TPQNF (QTF $ GF
XQNU CPF *CTOQPFUYQTVJ 2GPIWKP
(QTUVGT '/
.QPFQP 2GPIWKP )TGGP /
.QPFQP 4QWVNGFIG
,GHCTGU #0
GF
XQN .QPFQP /CEOKNNCP .GG #
.QPFQP 4QWVNGFIG .QFIG &
.QPFQP
4QWVNGFIG /E'YCP 0
.QPFQP
/CEOKNNCP #UKIPCVWTC
%NCXGU JKUVÉTKECU FG NC EWNVWTC KPINGUC
%T¾FKVQU
%CT±EVGT
C 1DNKICVQTKC RCTC (KNQNQIÃC +PINGUC
D 1RVCVKXC FG 2TQHWPFK\CEKÉP 1VTCU 6KVWNCEKQPGU FG (KNQNQIÃC %KENQ KPFKUV
%KENQ
Q
%WTUQ
Q
1DLGVKXQU
'UVC CUKIPCVWTC VKGPG EQOQ HKP QHTGEGT CN CNWOPQ WPC XKUKÉP IGPGTCN FG NC JKUVQTKC FGN 4GKPQ 7PKFQ [
UW TGHNGLQ GP NC EWNVWTC FG FKEJQ RCÃU &GDKFQ C NC GUECUG\ FG VKGORQ GUVC XKUKÉP PQ RTGVGPFG UGT
GZJCWUVKXC UKPQ O±U DKGP KPVGPVC CRQTVCT WPC UGTKG FG ENCXGU RCTC NC OGLQT EQORTGPUKÉP FG NC EWNVWTC
NC NKVGTCVWTC [ CTVG DTKV±PKEQU UKGORTG RTGUGPVCFQU GP UW CFGEWCFQ EQPVGZVQ JKUVÉTKEQ
%QPVGPKFQ
2WGUVQ SWG GU WPC CUKIPCVWTC FG ECT±EVGT INQDCN CDCTECT± RQT NQ VCPVQ GN GUVWFKQ FG NC JKUVQTKC EWNVWTCN
DTKV±PKEC JCEKGPFQ JKPECRK¾ UQDTG VQFQ GP CNIWPQU VGOCU FG KORQTVCPEKC CEVWCN SWG UGT±P QDLGVQ FG
PWGUVTQ CP±NKUKU EQOQ UQP GN ECUQ KTNCPF¾U NC TGNKIKÉP NC GFWECEKÉP GVE
/GVQFQNQIÃC
.C OGVQFQNQIÃC GORNGCFC RCTVKT± FG WPC KPVTQFWEEKÉP EQPEKUC [ GZCEVC FG WPC UGTKG FG FCVQU JKUVÉTKEQU
IGQIT±HKEQU [ UQEKCNGU SWG FGHKPCP NC RGEWNKCTKFCF FGN 4GKPQ 7PKFQ 7PC XG\ GUVCDNGEKFQU GUQU ETKVGTKQU
D±UKEQU NC CUKIPCVWTC UG FGUFQDNCT± GP WP ITWRQ FG DNQSWGU VGO±VKEQU SWG RQT UW GZVGPUKÉP [ CNECPEG
EQPUVCT±P FG WPC RTKOGTC GZRQUKEKÉP VGÉTKEC [ FG WPC RCTVG RT±EVKEC NGEVWTC FG FQEWOGPVQU XKUKQPCFQ
FG RGNÃEWNCU Q FQEWOGPVCNGU CWFKEKÉP FG EKPVCU RTQ[GEEKÉP FG FKCRQUKVKXCU GVE
'XCNWCEKÉP
.C GXCNWCEKÉP FGN EWTUQ UG JCT± RQT OGFKQ FG FQU GZ±OGPGU RCTEKCNGU EQP RTGIWPVCU FG GZVGPUKÉP
XCTKCDNG FGUFG NCU FG QREKÉP OÐNVKRNG JCUVC GN EQOGPVCTKQ FG WP VGOC Q VGZVQ FCFQ
$KDNKQITCHÃC
#WPSWG PQ UG UKIC PKPIÐP NKDTQ FG VGZVQ QHKEKCN UG QHTGEGT± CN CNWOPQ WPC DKDNKQITCHÃC D±UKEC SWG NG
C[WFG C VGPGT WPC XKUKÉP IGPGTCN FG NC JKUVQTKC EWNVWTCN DTKV±PKEC [ WPC DKDNKQITCHÃC GURGEÃHKEC RCTC
VGOCU FGVGTOKPCFQU
'PINKUJ *KUVQT[ # 5WTXG[ 172 /CECWNC[ ) +NNWUVTCVGF *KUVQT[ QH 'PINCPF .QPIOCP 5 )TGGP %Q /QTICP -1 6JG 1ZHQTF +NNWUVTCVGF *KUVQT[ QH $TKVCKP 1ZHQTF 172 6JG 0GY 'PE[ENQRCGFKC $TKVCPPKEC 6TGXGN[CP )/ # 5JQTVGPGF *KUVQT[ QH 'PINCPF .QPFQP 2GPIWKP $QQMU %NCTM 5KT )
#UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%QORTGPUKÉP [ GZRTGUKÉP FGN KPIN¾U GUETKVQ
C 1DNKICVQTKC RCTC (KNQNQIÃC +PINGUC
D 1RVCVKXC FG 2TQHWPFK\CEKÉP 1VTCU 6KVWNCEKQPGU FG (KNQNQIÃC %KENQ KPFKUV
%KENQ
Q
%WTUQ
Q
#UKIPCVWTC RTGNCVKXC EQP TGURGEVQ C
XGT R±I %QORTGPUKÉP [ GZRTGUKÉP QTCNGU
1DLGVKXQU
'UVC CUKIPCVWTC VKGPG GN HKP FG RTQRQTEKQPCT C NQU CNWOPQU [ NCU CNWOPCU NC QRQTVWPKFCF FG HCOKNKCTK\CTUG
EQP NQU FKUVKPVQU VKRQU FG VGZVQU CECF¾OKEQU SWG GPEQPVTCT±P C NQ NCTIQ FG UW ECTTGTC GURGEKCNOGPVG NQU
GPUC[QU [ QDTCU ETÃVKECU TGNCEKQPCFQU EQP NC NKPIÒÃUVKEC [ EQP NC NKVGTCVWTC
5G C[WFCT± C NQUNCU GUVWFKCPVGU C TGEQPQEGT NCU HWPEKQPGU FG FKUVKPVQU VKRQU FG TGFCEEKÉP
CECF¾OKEC FG OCPGTC SWG UWU RTQRKQU VGZVQU CNECPEGP NCU GZRGEVCVKXCU TGVÉTKECU FGN OWPFQ CECF¾OKEQ
FG JCDNC KPINGUC # VTCX¾U FG GLGTEKEKQU RT±EVKEQU NQUNCU GUVWFKCPVGU VGPFT±P NC QRQTVWPKFCF FG CFSWKTKT
V¾EPKECU SWG NGU HCEKNKVCT±P NC EQORTGUKÉP [ RTQFWEEKÉP FG VGZVQU CECF¾OKEQU
%QPVGPKFQU
5G VTCVCT±P GPVTG QVTQU NQU UKIWKGPVGU VGOCU 6GZVQ [ EQPVGZVQ TGRTGUGPVCEKÉP FGN FKUEWTUQ
QTCN [ GUETKVQ 'UVTWEVWTCEKÉP FG NC KPHQTOCEKÉP GP WP OCETQ PKXGN EQPEGRVQ FG I¾PGTQ GP GN
FKUEWTUQ CECF¾OKEQ NKVGTCTKQ [ NKPIÒÃUVKEQ FKUVKPVQU VKRQU FG FGUCTTQNNQ FG R±TTCHQ
PCTTCEKÉP
FGUETKREKÉP CTIWOGPVCEKÉP GZRQUKEKÉP 1TICPK\CEKÉP FGN VGZVQ GP WP OKETQPKXGN EN±WUWNC
EQPVKPWKFCF FGN VÉRKEQ QTICPK\CEKÉP FGN VGOC [ TGOC EQPGEVQTGU FGPUKFCF N¾ZKEQ GZRCPUKQPGU GVE
)GPGTCEKÉP FG KFGCU [ EQORQUKEKÉP FGN DQTTCFQT 6¾EPKECU FG TGXKUKÉP
/GVQFQNQIÃC
.C OGVQFQNQIÃC UGT± FG ECT±EVGT GOKPGPVGOGPVG RT±EVKEQ .QU CNWOPQU VGPFT±P NC QRQTVWPKFCF
FG TGXKUCT NQU VTCDCLQU GUETKVQU SWG FGUGCP RTGUGPVCT GP QVTCU CUKIPCVWTCU FG (KNQNQIÃC +PINGUC
'XCNWCEKÉP
.QUNCU GUVWFKCPVGU TGCNK\CT±P WPC UGTKG FG GLGTEKEKQU QDNKICVQTKQU SWG UG GPVGICT±P C HKPCN FGN
EWTUQ GP HQTOC FG
Q GP NC OCPGTC SWG FGUKIPG NC RTQHGUQTC #N RTKPEKRKQ FGN EWTUQ ECFC
RTQHGUQTC GUVCDNGEGT± NQU TGSWKUKVQU CFKEKQPCNGU
RQTVCHQNKQ
$KDNKQITCHÃC TGEQOGPFCFC
2CTCITCRJ &GXGNQROGPV # IWKFG HQT 5VWFGPVU QH 'PINKUJ
5GGKPI 6JTQWIJ .CPIWCIG
# 7PKXGTUKV[ %QWTUG KP 'PINKUJ )TCOOCT
5JCRKPI %QNNGIG 9TKVKPI
/.# *CPFDQQM HQT 9TKVGTU QH 4GUGTCEJ 2CRGTU
.CPIWCIG %QPVGZV CPF 6GZV #URGEVU QH .CPIWCIG KP C
5QEKCN 5GOKQVKE 2GTURGEVKXG
%QJGUKQP KP 'PINKUJ
6JG 5VWFGPVU 9TKVKPI )WKFG
9TKVKPI WR 4GUGCTEJ
6GZV )TCOOCT QH 'PINKUJ
#TPCWFGV / [ $CTTGVV / N
m
GFKEKÉP 'PINGYQQF %NKHHU 0, 2TGPVKEG*CNN
%CTVGT 4 [ 0CUJ 9 N
1ZHQTF $CUKN $NCEMYGNN
&QYPKPI # .QEMG 2 N
.QPFQP 2TGPVKEG *CNN
)CNNQ , N
m GFKEKÉP 0; *CTEQWTV $TCEG ,QXCPQXKEJ
)KDCNFK , [ #EJVGTV 9 N
0GY ;QTM /.#
*CNNKFC[ /#- *CUCP 4 N N
1ZHQTF 172
*CNNKFC[ /#- *CUCP 4 N
.QPFQP .QPIOCP
6C[NQT ) N
m KORTGUKÉP %CODTKFIG %72
9GKUUDGTI 4 [ $WMGT 5 N
'PINGYQQF %NKHHU 0, 2TGPVKEG*CNN
9GTNKEJ ' N
*GKFGNDGTI 3WGNNG /G[GT
#UKIPCVWTC
'XQNWEKÉP FG NC PQXGNC KPINGUC JCUVC GN UKINQ ::
%T¾FKVQU
%CT±EVGT
1DNKICVQTKC
%KENQ
Q
%WTUQ
Q
1DLGVKXQU
'N EWTUQ RTGVGPFG SWG GN CNWOPCFQ UG HCOKNKCTKEG C VTCX¾U FG NC NGEVWTC [ FGN FGDCVG ETÃVKEQ EQP
EKGTVQ PÐOGTQ FG QDTCU SWG TGRTGUGPVCP NCU EQTTKGPVGU HWPFCOGPVCNGU FG ETGCEKÉP [ HQTOWNCEKÉP GUV¾VKEC
FGN RGTÃQFQ TGUGÇCFQ
%QPVGPKFQ
.QU EQPVGPKFQU FG NC CUKIPCVWTC GUV±P GURGEÃHKECOGPVG FGNKOKVCFQU RQT GN GRÃITCHG FG UW
FGHKPKEKÉP UG VTCVC FGN GUVWFKQ FG NC RTQFWEEKÉP PQXGNÃUVKEC DTKV±PKEC SWG EQTTGURQPFG HWPFCOGPVCN
OGPVG C NQU UKINQU :8+++ [ :+:
%CT±EVGT FG NCU RT±EVKECU
7PC RCTVG KORQTVCPVG FGN VTCDCLQ RT±EVKEQ EQPUKUVG GP NGEVWTCU GZVGPUKXCU G KPVGPUKXCU [ GUC
ENCUG FG RT±EVKEC GU NC SWG UQNQ UG OKFG GP NCU TGURWGUVCU FG NQU GZ±OGPGU 5GTÃC FGUGCDNG GP GUVC
CUKIPCVWTC RQT TC\QPGU OGVQFQNÉIKECU [ GRKUVGOQNÉIKECU SWG PQ JWDKGTC WPC FKUVKPEKÉP VCLCPVG GPVTG
VGQTÃC [ RT±EVKEC # NQ NCTIQ FGN EWTUQ UG KPUKUVKT± GP NC NGEVWTC FG NCU QDTCU RTQRWGUVCU UG
RTQRQTEKQPCT±P NQU OGFKQU RCTC SWG NQU RTQRKQU CNWOPQU GZRQPICP UWU KFGCU [ TGHNGZKQPGU GP VQTPQ C
NQ SWG JC[CP NGÃFQ OGFKCPVG FGDCVGU [ GZRQUKEKQPGU KPFKXKFWCNGU Q GP ITWRQ [ UG RTQRQPFT± NC
GNCDQTCEKÉP FG VTCDCLQU GUETKVQU UQDTG CUWPVQU FG NC OCVGTKC
'XCNWCEKÉP
.QU O¾VQFQU FG GXCNWCEKÉP RQFT±P EQORTGPFGT FGUFG NC GNCDQTCEKÉP FG VTCDCLQU [Q
GZRQUKEKQPGU GP ENCUG JCUVC GZ±OGPGU RCTEKCNGU [ HKPCNGU SWG KPENW[CP RTWGDCU VGÉTKEQRT±EVKECU
$KDNKQITCHÃC D±UKEC
6TCFKVKQP &QTQVJ[ 8CP %JGPV 6JG 'PINKUJ 0QXGN (QTO CPF (WPEVKQP #TPQNF -GVVNG #P +PVTQFWEVKQP VQ VJG 'PINKUJ 0QXGN XQNU 9CNVGT #NNGP 6JG 'PINKUJ 0QXGN +CP 9CVV 6JG 4KUG QH VJG 0QXGN .KQPGN 5VGXGPUQP 6JG 'PINKUJ 0QXGN 4C[OQPF 9KNNKCOU 6JG 'PINKUJ 0QXGN (TQO &KEMGPU VQ .CYTGPEG N
4 -KGN[ 6JG 4QOCPVKE 0QXGN KP 'PINCPF 5CPFTC )KNDGTV [ 5WUCP )WDCT 6JG /CFYQOCP KP VJG #VVKE (4 .GCXKU 6JG )TGCV
#UKIPCVWTC
.GPIWC KPINGUC ++ FGUVTG\CU KPVGITCFCU
%T¾FKVQU
%CT±EVGT
C 6TQPECN RCTC (KNQNQIÃC +PINGUC
D 1RVCVKXC FG 2TQHWPFK\CEKÉP 1VTCU 6KVWNCEKQPGU FG (KNQNQIÃC %KENQ KPFKUV
%KENQ
Q
%WTUQ
Q
1DLGVKXQU [ EQPVGPKFQU
.GPIWC KPINGUC + &GUVTG\CU KPVGITCFCU
2TG2TQHKEKGPE[
2TQHKEKGPE[
'N EWTUQ EQPUVKVW[G WPC EQPVKPWCEKÉP FG NC CUKIPCVWTC
XGT R±I 'UVQ UKIPKHKEC SWG RCTVG FG WP PKXGN CFSWKTKFQ RQT GN CNWOPQ FG
GP NCU
EWCVTQ FGUVTG\CU D±UKECU # NQ NCTIQ FGN EWTUQ UG VTCDCLCT± GP GN FGUCTTQNNQ FGN FQOKPKQ FGN KPIN¾U
KPUVTWOGPVCN RCTC CNECP\CT GN PKXGN EQTTGURQPFKGPVG C
'XCNWCEKÉP
5G FGDGT± UWRGTCT WP GZCOGP HKPCN EQP RTWGDCU EQTTGURQPFKGPVGU C NCU FKUVKPVCU FGUVTG\CU
+PFGRGPFKGPVGOGPVG C NQ NCTIQ FGN EWTUQ ECFC RTQHGUQT RQFT± TGCNK\CT QVTCU RTWGDCU SWG GUVKOG
PGEGUCTKCU
$KDNKQITCHÃC
.KDTQ FG VGZVQ QDNKICVQTKQ 0KXGN FG
2TQHKEKGPE[
)TCO±VKEC
U [ NKDTQU FG EQPUWNVC TGEQOGPFCFQU RQT ECFC RTQHGUQT
&KEEKQPCTKQ
U OQPQNKPIÒG
U TGEQOGPFCFQ RQT ECFC RTQHGUQT
#UKIPCVWTC
.GZKEQNQIÃC [ UGO±PVKEC N¾ZKEC FGN KPIN¾U
%T¾FKVQU
%CT±EVGT
1DNKICVQTKC
%KENQ
Q
%WTUQ
Q
1DLGVKXQU
'N QDLGVKXQ FG GUVG EWTUQ GU GN FG KPVTQFWEKT CN CNWOPQ GP GN GUVWFKQ FG NC NGZKEQNQIÃC [ NC
UGO±PVKEC N¾ZKEC UWU FCVQU [ NC PCVWTCNG\C FG UW QDLGVQ FG GUVWFKQ NC RCNCDTC 7PC XG\ CHKCP\CFQU GUVQU
EQPEGRVQU UG RTGVGPFG SWG GN CNWOPQ RQUGC EQPQEKOKGPVQU VGÉTKEQRT±EVKEQU UQDTG CN OGPQU FQU FG NCU
ITCPFGU EQTTKGPVGU N¾ZKEQUGO±PVKECU GN CP±NKUKU EQORQPGPEKCN [ NC UGO±PVKEC EQIPKVKXC
%QPVGPKFQU
%QPEGRVQU D±UKEQU FG .¾ZKEQUGO±PVKEC [ /QTHQNQIÃC N¾ZKEC
#P±NKUKU %QORQPGPEKCN
5GO±PVKEC %QIPKVKXC
/GVQFQNQIÃC
%CFC RWPVQ FGN RTQITCOC UG RTGUGPVCT± FG OCPGTC VGÉTKEC KPOGFKCVCOGPVG UGIWKFQ FG UW
EQTTGURQPFKGPVG RT±EVKEC &G GUVC HQTOC UG RTQRKEKCT± NC RCTVKEKRCEKÉP CEVKXC FGN GUVWFKCPVG GP GN
FGUCTTQNNQ FG NC CUKIPCVWTC
$KDNKQITCHÃC
9QTFU KP VJG /KPF #P +PVTQFWEVKQP VQ VJG /GPVCN .GZKEQP 1ZHQTF $ $NCEMYGNN
#NNCP - .KPIWKUVKE /GCPKPI 8QNU .QPFQP 4-2
$CWGT . 'PINKUJ 9QTF(QTOCVKQP %CODTKFIG %72
%TWUG &# .GZKECN 5GOCPVKEU %CODTKFIG %72
,CMGPFQHH 4 5GOCPVKEU CPF %QIPKVKQP %CODTKFIG /CUU /+6 2TGUU
.CMQHH ) 9QOGP (KTG CPF &CPIGTQWU 6JKPIU 9JCV %CVGIQTKGU 4GXGCN CDQWV VJG /KPF
#KVEJKUQP , .QPFQP 7PKXGTUKV[ QH %JKECIQ 2TGUU
5GOCPVKEU %CODTKFIG %72
0KFC '# %QORQPGPVKCN #PCN[UKU QH /GCPKPI 0GY ;QTM
.[QPU , /QWVQP 2WDNKUJGTU
5GOCPVKEU %CODTKFIG %72
6C[NQT ,4 .KPIWKUVKE %CVGIQTK\CVKQP 2TQVQV[RGU KP .KPIWKUVKE 6JGQT[ 1ZHQTF %NCTGPFQP
2CNOGT (4 2TGUU
9KGT\DKEMC # .GZKEQITCRJ[ CPF %QPEGRVWCN #PCN[UKU #PP #TDQT -CTCOC
#UKIPCVWTC
6GCVTQ KPIN¾U 5JCMGURGCTG [ GN VGCVTQ KUCDGNKPQ
%T¾FKVQU
%CT±EVGT
6TQPECN
%KENQ
Q
%WTUQ
Q
1DLGVKXQU
1HTGEGT CN CNWOPQ WPC XKUKÉP IGPGTCN FGN VGCVTQ GP NC ¾RQEC FG 5JCMGURGCTG CUÃ EQOQ
HCOKNKCTK\CTNQ EQP QDTCU KPFKXKFWCNGU FG NQU RTKPEKRCNGU FTCOCVWTIQU 5G RTGVGPFG VCODK¾P HCOKNKCTK\CT
CN CNWOPQ EQP GN EQPVGZVQ UQEKQRQNÃVKEQ [ EWNVWTCN FG NC ¾RQEC RCTC HCEKNKVCT NC EQORTGPUKÉP FG NCU
QDTCU
%QPVGPKFQ
'N EWTUQ CDQTFCT± FG OCPGTC IGPGTCN Q OQPQIT±HKEC 'N VGCVTQ EQOQ UKUVGOC FG EQOWPKECEKÉP
'N EQPVGZVQ UQEKQRQNÃVKEQ FGN VGCVTQ KUCDGNKPQ %CTCEVGTÃUVKECU HÃUKECU FG NQU VGCVTQU 2TKPEKRCNGU
FTCOCVWTIQU FG NC ¾RQEC )¾PGTQU VGCVTCNGU 5GNGEEKÉP FG QDTCU TGRTGUGPVCVKXCU -[F /CTNQYG
9GDUVGT [ FGN RTQRKQ 5JCMGURGCTG
%CT±EVGT FG NCU RT±EVKECU
.CU UGUKQPGU RT±EVKECU FGN EWTUQ UG DCUCT±P GP NC NGEVWTC FG NCU QDTCU UGNGEEKQPCFCU CUÃ EQOQ
UGUKQPGU FG XÃFGQ FG EKGTVCU QDTCU 2QT QVTC RCTVG UG RQFT± FKXKFKT GN ITWRQ FG CNWOPQ GP UWDITWRQU
FG VTCDCLQ O±U RGSWGÇQU [ UG HQOGPVCT± GP VQFQ OQOGPVQ NC NKDTG FKUEWUKÉP FG NCU QDTCU GP ENCUG
'XCNWCEKÉP
2QFT± JCDGT FKUVKPVQU O¾VQFQU FG GXCNWCEKÉP UGIÐP GN RTQHGUQTCFQ NC RTGRCTCEKÉP FG WP VTCDCLQ
UQDTG CNIÐP CURGEVQ Q VGOC TGNGXCPVG FG NC QDTC FG 5JCMGURGCTG GUVG VTCDCLQ UG GPVTGICTÃC CN RTQHGUQT
RGTQ VCODK¾P UG QHTGEGTÃC C NC ENCUG GP IGPGTCN WP GZCOGP UG VQOCT± GP EWGPVC NC RCTVKEKRCEKÉP FGN
CNWOPQ GP ENCUG UW KPVGT¾U RQT NC OCVGTKC GVE
$KDNKQITCHÃC D±UKEC
5JCMGURGCTGCP 6TCIGF[ 0; 2TGOKGT $QQMU &QNNKOQTG ,QPCVJCP 4CFKECN 6TCIGF[ 4GNKIKQP +FGQNQI[ CPF 2QYGT KP VJG &TCOC QH 5JCMGURGCTG CPF
*KU %QPVGORQTCTKGU .QPFQP *CTXGUVGT 9JGCVUJGCH 'FYCTFU 2 $GPVNG[ )' /E.WUMKG - 2QVVGT . 6JG 4GXGNU JKUVQT[ QH FTCOC KP
'PINKUJ XQN +8 .QPFQP /GVJWGP
/QTICP /CTIGT[ &TCOC 2NC[U 6JGCVTG CPF 2GTHQTOCPEG .QPIOCP ;QTM 2TGUU $TCFNG[ #%
5G HCEKNKVCT± DKDNKQITCHÃC GURGEÃHKEC RCTC NCU FKUVKPVCU QDTCU [ CWVQTGU
#UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%KENQ
%WTUQ
%NCXGU EWNVWTCNGU [ QDTCU HWPFCOGPVCNGU FG NC NKVGTCVWTC PQTVGCOGTKECPC
C 1DNKICVQTKC
D 1RVCVKXC FG 2TQHWPFK\CEKÉP 1VTCU 6KVWNCEKQPGU FG (KNQNQIÃC %KENQ KPFKUV
Q
Q
1DLGVKXQU
'N QDLGVKXQ FG GUVC CUKIPCVWTC UGT± KPVTQFWEKT CN CNWOPQ CN GUVWFKQ FG NC NKVGTCVWTC PQTVGCOGTKECPC GP UW
EQPLWPVQ RTGUVCPFQ GURGEKCN CVGPEKÉP C UWU QTÃIGPGU [ UW GXQNWEKÉP GP NQU FKUVKPVQU RGTKQFQU
ETQPQNÉIKEQU JCUVC NNGICT CN RTGUGPVG 5G UWDTC[CT± GN EQPVGZVQ UQEKQJKUVÉTKEQ GURGEÃHKEQ GP GN SWG
UWTIGP NQU VGZVQU HWPFCOGPVCNGU FG NC NKVGTCVWTC PQTVGCOGTKECPC RCTC TGHNGZKQPCT UQDTG NQU OKUOQU GP
VCPVQ GP EWCPVQ RTQFWEVQU EWNVWTCNGU FG UW VKGORQ
%QPVGPKFQ
.C CUKIPCVWTC RTGVGPFG EWDTKT FG OCPGTC RCPQT±OKEC GN GUVWFKQ FG NQU UKIWKGPVGU RGTKQFQU
2GTKQFQ HQTOCVKXQ FGUFG NQU QTÃIGPGU JCUVC 4GNCEKQPGU FG NC NKVGTCVWTC PQTVGCOGTKECPC EQP
HQTOCU NKVGTCTKCU JGTGFCFCU FG )TCP $TGVCÇC 5WTIKOKGPVQ FG WPC NKVGTCVWTC PCEKQPCN .CU NGVTCU
COGTKECPCU GP UW RGTKQFQ FG GHGTXGUEGPEKC PCEKQPCNKUVC #WVQTGUCU FG NCU RTKOGTCU F¾ECFCU FGN :+:
#EQPVGEKOKGPVQU UQEKQJKUVÉTKEQU TGNGXCPVGU
.KVGTCVWTC PQTVGCOGTKECPC FGUFG C 6TCUEGPFGPVCNKUOQ 4GPCEKOKGPVQ #OGTKECPQ
.KVGTCVWTC TGIKQPCN #RCTKEKÉP FG NC OWLGT GUETKVQTC RTQHGUKQPCN %QOKGP\QU FGN VGCVTQ COGTKECPQ
#EQPVGEKOKGPVQU UQEKQJKUVÉTKEQU TGNGXCPVGU
.KVGTCVWTC PQTVGCOGTKECPC UKINQ :: JCUVC 4GCNKUOQ PCVWTCNKUOQ [ TGIKQPCNKUOQ EQOQ RWGPVG
GPVTG GN :+: [ :: 'N UWTIKOKGPVQ FGN OQFGTPKUOQ 4GPCEKOKGPVQ FG *CTNGO 'UETKVQTGUCU FG
GPVTGIWGTTCU #EQPVGEKOKGPVQU UQEKQJKUVÉTKEQU TGNGXCPVGU
.KVGTCVWTC PQTVGCOGTKECPC FGUFG C PWGUVTQU FÃCU .KVGTCVWTC GP NC #O¾TKEC FG NC RQUVIWGTTC
8CTKGFCF FG VGPFGPEKCU FGN PGQTTGCNKUOQ CN RQUVOQFGTPKUOQ 6GCVTQ FGN :: 1VTCU NKVGTCVWTCU GP GN
UGPQ FG NQU ''77 #EQPVGEKOKGPVQU UQEKQJKUVÉTKEQU TGNGXCPVGU
'P ECFC WPQ FG GUVQU DNQSWGU UG UGNGEEKQPCT±P VGZVQU FGUVCECFQU SWG UGT±P CPCNK\CFQU ETÃVKECOGPVG GP
CN CWNC CRQ[±PFQPQU GP FKXGTUCU CRTQZKOCEKQPGU 5G QHTGEGT± WP CORNKQ RCPQTCOC IGP¾TKEQ GP GN SWG
VGPFT±P ECDKFC PCTTCVKXC RQGUÃC VGCVTQ [ GPUC[Q
%CT±EVGT FG NCU RT±EVKECU
'N EWTUQ EQORTGPFGT± WPC UGTKG FG UGUKQPGU RT±EVKECU SWG UG FGFKECT±P CN EQOGPVCTKQ FG NQU VGZVQU
UGNGEEKQPCFQU CUÃ EQOQ C NC TGHNGZKÉP UQDTG NQU OKUOQU FGUFG NQU FKUVKPVQU GPHQSWGU ETÃVKEQU 5G
RQVGPEKCT± NC RCTVKEKRCEKÉP FGN CNWOPQ HQOGPVCPFQ GN FGDCVG [ NC GZRQUKEKÉP FG KFGCU UQDTG NCU NGEVWTCU
GP NC ENCUG
'XCNWCEKÉP
5GIÐP GN RTQHGUQTCFQ NQU O¾VQFQU FG GXCNWCEKÉP RQFT±P EQORTGPFGTFGUFG NC GNCDQTCEKÉP FG VTCDCLQU
[Q GZRQUKEKQPGU GP ENCUG JCUVC GZ±OGPGU RCTEKCNGU [ HKPCNGU SWG KPENW[CP RTWGDCU VGÉTKEQRT±EVKECU
$KDNKQITCHÃC D±UKEC
0GY 9QTNFU QH .KVGTCVWTG 0; 990QTVQP 6JG %CODTKFIG *KUVQT[ QH #OGTKECP .KVGTCVWTG 8QNU + ++ CPF HQTVJEQOKPI
%QNWODKC .KVGTCT[ *KUVQT[ QH VJG 7PKVGF 5VCVGU 0; %QNWODKC 72TGUU 6JG 0QTVQP #PVJQNQI[ QH #OGTKECP .KVGTCVWTG 8QNU + ++ 0; 990QTVQP $GCV[ ,GTQOG ,2CWN *WPVGT
$GTEQXKVEJ 5CEXCP GF
%CODTKFIG 7 2TGUU 'NNKQVV 'OQT[ GF
#UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%QORTGPUKÉP [ GZRTGUKÉP QTCNGU
%KENQ
%WTUQ
C 1DNKICVQTKC RCTC (KNQNQIÃC +PINGUC
D 1RVCVKXC FG 2TQHWPFK\CEKÉP QVTCU 6KVWNCEKQPGU FG (KNQNQIÃC %KENQ KPFKUV
Q
Q
1DLGVKXQU
'UVC CUKIPCVWTC VKGPG FQU QDLGVKXQU 'P RTKOGT NWICT VTCVCT± FG FCT C NQU CNWOPQUCU NC
RQUKDKNKFCF FG OGLQTCT UW EQORTGPUKÉP FGN KPIN¾U JCDNCFQ 'P UGIWPFQ NWICT VTCVCT± FG C[WFCTNGU C SWG
UW RTQRKC RTQFWEEKÉP FG KPIN¾U QTCN UGC O±U HNWKFC [ EQTTGEVC
5G VTCVC FG SWG NQUNCU GUVWFKCPVGU UGCP ECRCEGU FG
4GEQPQEGT [ CFSWKTKT V¾EPKECU FG EQORTGPUKÉP [ GZRTGUKÉP QTCNGU
4GEQPQEGT NCU FKHGTGPEKCU HQPQNÉIKECU ITCOCVKECNGU [ N¾ZKECU QDUGTXCDNGU GPVTG NC NGPIWC QTCN [
GUETKVC [ GPVTG TGIKUVTQU QTCNGU FKUVKPVQU [ CRNKECT GUVQU EQPQEKOKGPVQU GP NC RTQFWEEKÉP QTCN
G
G
%QPVGPKFQU
5RQMGP NCPIWCIG XGTUWU YTKVVGP NCPIWCIG 5KOKNCTKVKGU CPF FKHHGTGPEGU KP U[PVCZ NGZKU CPF QXGTCNN
VGZV QTICPK\CVKQP
#PCN[UKU QH URQMGP NCPIWCIG %QPVGZV CPF %QVGZV 5WRTCUGIOGPVCNU 5RGGEJ #EVU CPF 5RGGEJ
'XGPVU /CETQ CPF OKETQUVTWEVWTGU
)GPTGU QH URQMGP 'PINKUJ 6JG IGPTG QH EQPXGTUCVKQP #ECFGOKE IGPTGU
2QNKVGPGUU (QTOCNKV[ CPF KPHQTOCNKV[
X
X
X
X
X
X
%CT±EVGT FG NCU RT±EVKECU
5G RNCPVGCT±P VCTGCU SWG C[WFGP C FGUCTTQNNCT NC ECRCEKFCF FG EQORTGPUKÉP [ GZRTGUKÉP QTCNGU
FG NQUNCU GUVWFKCPVGU 5G WVKNK\CT±P FKXGTUQU VKRQU FG VGZVQ KPENWKFQU VGZVQU CECF¾OKEQU
'XCNWCEKÉP
.QUNCU GUVWFKCPVGU TGCNK\CT±P WPCU RTWGDCU FG EQORTGPUKÉP QTCN CN HKPCN FGN EWTUQ .C GZRTGUKÉP
QTCN UG GXCNWCT± OGFKCPVG RTWGDCU KPFKXKFWCNGU [Q GP RGSWGÇQU ITWRQU
$KDNKQITCHÃC D±UKEC
X
&GUCTTQNNQ FG FGUVTG\CU
%CFC RTQHGUQTC KPFKECT± GN NKDTQ SWG UG WVKNK\CT± RCTC NCU RT±EVKECU 5G UWIKGTG GPVTG QVTQU
,COGU - ,QTFCP 44 /CVJGYU #, ,2 1$TKGP
0GNUQP
.GEVWTCU $±UKECU
(NQYGTFGY , %CODTKFIG %72
*CNNKFC[ /#- 1ZHQTF 172
4QCEJ 2 %CODTKFIG %72 %JCRVGTU
4GCFKPI RCEM 5GNGEEKÉP FG CTVÃEWNQU [ ECRÃVWNQU FG NKDTQU C ETKVGTKQ FGN RTQHGUQTC
X
.KUVGPKPI %QORTGJGPUKQP CPF 0QVGVCMKPI
%QWTUG
#ECFGOKE .KUVGPKPI
5RQMGP CPF 9TKVVGP .CPIWCIG
'PINKUJ 2JQPGVKEU CPF 2JQPQNQI[ # 2TCEVKECN %QWTUG
X
#UKIPCVWTC
(QTOCU RQ¾VKECU FG NC NKVGTCVWTC KPINGUC JCUVC GN UKINQ ::
%T¾FKVQU
%CT±EVGT
1DNKICVQTKC
%KENQ
Q
%WTUQ
Q
1DLGVKXQU
6GPGT WPC XKUKÉP FKCETÉPKEC FG NQU VGOCU [ GUVKNQU HWPFCOGPVCNGU FG NC 2QGUÃC +PINGUC JCUVC GN
5:+: .C JKUVQTKC NKVGTCTKC VKGPG WP RTQEGUQ [ WPC GXQNWEKÉP NÉIKEC GP UWU HQTOCU
%QPVGPKFQ
'UVWFKQ FG NQU CWVQTGU ¾RQECU [ GUEWGNCU HWPFCOGPVCNGU 5G JCT± WPC TGXKUKÉP FGUFG NC 'FCF
/GFKC RCUCPFQ RQT NC NÃTKEC TGPCEGPVKUVC GN 0GQENCUKEKUOQ GN $CTTQEQ GN 4QOCPVKEKUOQ [ NC ¾RQEC
XKEVQTKCPC
%CT±EVGT FG NCU RT±EVKECU
8GT [ CPCNK\CT GP ENCUG NQU VGZVQU SWG OGLQT TGRTGUGPVGP NQU FKUVKPVQU RGTKQFQU
'XCNWCEKÉP
/GFKCPVG GLGTEKEKQU [ GZRQUKEKQPGU GP ENCUG CUÃ EQOQ GN EQTTGURQPFKGPVG GZCOGP HKPCN
$KDNKQITCHÃC D±UKEC
5VCRNGVQP /KEJCGN GF
6JG %CODTKFIG )WKFG VQ 'PINKUJ .KVGTCVWTG %CODTKFIG 7PKXGTUKV[ 2TGUU
6JG 1ZHQTF #PVJQNQI[ QH 'PINKUJ .KVGTCVWTG XQNU 1ZHQTF 7PKXGTUKV[ 2TGUU 6JG 0QTVQP #PVJQNQIKGU
6JG 2GPIWKP #PVJQNQIKGU
$CVGUQP (9 'PINKUJ 2QGVT[ # %TKVKECN +PVTQFWEVKQP )TGGPYQQF 2TGUU .QPFQP #UKIPCVWTC
+PVTQFWEEKÉP C NC GXQNWEKÉP [ FGUCTTQNNQ FG NC NGPIWC KPINGUC
%T¾FKVQU
%CT±EVGT
C 1DNKICVQTKC RCTC (KNQNQIÃC +PINGUC
D 1RVCVKXC FG 2TQHWPFK\CEKÉP 1VTCU 6KVWNCEKQPGU FG (KNQNQIÃC %KENQ KPFKUV
%KENQ
Q
%WTUQ
Q
1DLGVKXQU
'ZRQPGT NCU NÃPGCU RTKPEKRCNGU FGN FGUCTTQNNQ FG NC NGPIWC KPINGUC %QORTGPFGT NQU CURGEVQU
GUGPEKCNGU FG NC GXQNWEKÉP VKRQNÉIKEC TGIKQPCN [ ETQPQNÉIKEC FG NC OKUOC [ UWU EQPUGEWGPEKCU
KPVTCUKUV¾OKECU 4GUCNVCT NC NGPIWC CEVWCN EQOQ TGUWNVCFQ RCTEKCN FG WPC VTC[GEVQTKC JKUVÉTKEC 'UVCDNGEGT
WP OCTEQ IGPGTCN GP GN SWG KPVGITCT QVTQU GUVWFKQU RQUVGTKQTGU &GUCTTQNNCT NC ECRCEKFCF FG NQU
GUVWFKCPVGU RCTC GNCDQTCT RGSWGÇQU GPUC[QU [ EQOGPVCTKQU UQDTG JKUVQTKC FG NC NGPIWC KPINGUC FGUFG GN
RWPVQ FG XKUVC NKPIÒÃUVKEQVGÉTKEQ
%QPVGPKFQU
'N EWTUQ KPVTQFWEKT± DTGXGOGPVG CURGEVQU IGPGTCNGU FG NC NKPIÒÃUVKEC JKUVÉTKEC [ EQORCTCFC
EQPEGRVQ O¾VQFQU FG KPXGUVKICEKÉP [ QDLGVQ FG NC OKUOC [ GUVCDNGEGT± NC TGNGXCPEKC FG NQU GUVWFKQU
FKCETÉPKEQU GP GN UGPQ FG NC NKPIÒÃUVKEC CEVWCN 5G CDQTFCT±P Q TGXKUCT±P NQU EQPEGRVQU IGPGTCNGU FGN
ECODKQ NKPIÒÃUVKEQ EQOQ DCUG VGÉTKEC FGN EWTUQ
5G GUVCDNGEGT±P NCU ECTCEVGTÃUVKECU FGN KPIN¾U EQOQ NGPIWC IGTO±PKEC 'N ¾PHCUKU TGECGT± UQDTG
NCU GVCRCU O±U UKIPKHKECVKXCU GP SWG UG DCUC GN GUVWFKQ GURGEÃHKEQ FG NC JKUVQTKC FG NC NGPIWC KPINGUC &G
NQU FKUVKPVQU RGTKQFQU UG TGUCNVCT±P OQXKOKGPVQU VGPFGPEKCU G KPVGTTGNCEKQPGU QEWTTKFCU C NQ NCTIQ FGN
VKGORQ .C CVGPEKÉP FGN EWTUQ KT± FKTKIKFC CN GUVWFKQ FG HCEVQTGU VCNGU EQOQ VGPFGPEKCU FG GXQNWEKÉP
VKRQNÉIKEQNKPIÒÃUVKEC TGNCEKQPGU FG EQPVCEVQ KPVGTNKPIÒÃUVKEQ JGEJQU UQEKQEWNVWTCNGU TGNGXCPVGU GVE
VQFQU GNNQU TGHGTKFQU CN FGUCTTQNNQ FGN KPIN¾U
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU RQFT±P EQPUKUVKT GP WPQ Q GP XCTKQU FG NQU UKIWKGPVGU GLGTEKEKQU TGFCEEKÉP FG
GPUC[QU DTGXGU UQDTG NGEVWTCU TGEQOGPFCFCU CP±NKUKU FG VGZVQU FG GVCRCU O±U CPVKIWCU FG NC NGPIWC
UKGORTG IWKCFQU RQT QDLGVKXQU OW[ EQPETGVQU GLGTEKEKQU FG OCPGLQ [ WUQ FG FKEEKQPCTKQU GVKOQNÉIKEQU
[ 1'& TGCNK\CEKÉP FG VTCDCLQU O±U GZVGPUQU KPFKXKFWCNGU Q GP ITWRQ
'XCNWCEKÉP
5G GXCNWCT±P NQU VTCDCLQU [ RT±EVKECU TGCNK\CFCU C NQ NCTIQ FGN EWTUQ 5G TGCNK\CT± WP GZCOGP
HKPCN EQP RTGIWPVCU FG GZVGPUKÉP XCTKCDNG
$KDNKQITCHÃC D±UKEC
6JG UJCRG QH 'PINKUJ .QPFQP &GPV 5QPU
*WIJGU ) 9QTFU KP VKOG 1ZHQTF $NCEMYGNN
.GJOCP 9
*KUVQTKECN NKPIWKUVKEU 0; *QNV 4KPGJCTV 9KPUVQP
/E%TWO 4 GV CN 6JG UVQT[ QH 'PINKUJ .QPFQP (CDGT CPF (CDGT
.CUU 4 'UVC TGNCEKÉP RQFT± CORNKCTUG EQP WPC UGNGEEKÉP FG NGEVWTCU TGEQOGPFCFCU
#UKIPCVWTC
/QFGNQU RQ¾VKEQU FG NC NKVGTCVWTC KPINGUC UU :+: [ ::
%T¾FKVQU
%CT±EVGT
1DNKICVQTKC
%KENQ
Q
%WTUQ
Q
1DLGVKXQU
[ ::
6GPGT WPC XKUKÉP IGPGTCN FG NQU VGOCU [ HQTOCU HWPFCOGPVCNGU FG NC RQGUÃC KPINGUC FG NQU 5:+:
%QPVGPKFQ
'UVWFKQ GURGEKCN FG NQU CWVQTGU HWPFCOGPVCNGU SWG JCP OCTEC FQ NC OQFGTPKFCF 5G JCT±
VCODK¾P JKPECRK¾ GP NCU F¾ECFCU [ GP NQU FKUVKPVQU OQXKOKGPVQU NKVGTCTKQU FGN 5:: .C OGVQFQNQIÃC UG
DCUCT± GP GN GUVWFKQ FG VGOCU [ HQTOCU
%CT±EVGT FG NCU RT±EVKECU
8GT [ CPCNK\CT GP ENCUG RQGOCU EQPETGVQU SWG UWRQPICP WTC PWGXC OCPGTC FG TGVÉTKEC RQ¾VKEC
'XCNWCEKÉP
/GFKCPVG GLGTEKEKQU [ GZRQUKEKQPGU GP ENCUG CUÃ EQOQ GN EQTTGURQPFKGPVG GZCOGP HKPCN
$KDNKQITCHÃC D±UKEC
6JG 0QTVQP #PVJQNQIKGU 6JG 2GPIWKP #PVJQNQIKGU
-KPI 24 0KPG %QPVGORQTCT[ 2QGVU # %TKVKECN +PVTQFWEVKQP /GVJWGP .QPFQP .GCXKU (4 4GXCNWCVKQP 6TCFKVKQP CPF &GXGNQROGPV KP 'PINKUJ 2QGVT %JCVVQ CPF 9KPFWU .QPFQP
0GY $GCTKPIU KP 'PINKUJ 2QGVT[ # UVWF[ QH VJG %QPVGORQTCT[ 5KVWCVKQP 2GPIWKP /CZYGNN &'5 2QGVU QH VJG 6JKTVKGU 4QWVNGFIG CPF MGICP 2CWN .QPFQP 2TGUU , # /CR QH /QFGTP 'PINKUJ 8GTUG 1ZHQTF 7PKXGTUKV[ 2TGUU .QPFQP 6JYCKVG # 2QGVT[ 6QFC[ # %TKVKECN )WKFG VQ $TKVKUJ 2QGVT[ .QPIOCP .QPFQP #UKIPCVWTC
/QFGNQU VGÉTKEQU FG FGUETKREKÉP FG NC NGPIWC KPINGUC
%T¾FKVQU
%CT±EVGT
1DNKICVQTKC
%KENQ
Q
%WTUQ
Q
1DLGVKXQU
'N EWTUQ RTGVGPFG KPVTQFWEKT CN CNWOPQC CN GUVWFKQ FG NQU RTKPEKRCNGU OQFGNQU FG FGUETKREKÉP
NKPIÒÃUVKEC FGN UKINQ :: VCPVQ FGUFG GN RWPVQ FG XKUVC FG NC VGQTÃC NKPIÒÃUVKEC EQOQ FG NC FGUETKREKÉP
CPCNÃVKEC
%QPVGPKFQU
6TCU WPC DTGXG KPVTQFWEEKÉP C NC JKUVQTKC FG NCU KFGCU GP NKPIÒÃUVKEC UG GUVWFKCT±P NCU FKXGTUCU
GUEWGNCU GUVTWEVWTCNKUOQ IGPGTCVKXKUOQ HWPEKQPCNKUOQ [ NKPIÒÃUVKEC EQIPKVKXC [ RQUVGTKQT CRNKECEKÉP
CN GUVWFKQ FG NC ITCO±VKEC KPINGUC
%CT±EVGT FG NCU RT±EVKECU
#RNKECEKÉP FG NQU OQFGNQU C CURGEVQU GURGEÃHKEQU FG NC NGPIWC KPINGUC
'XCNWCEKÉP
'N RTQHGUQT RQFT± GNGIKT GPVTG CNIWPCU FG NCU UKIWKGPVGU QREKQPGU GZRQUKEKQPGU QTCNGU VTCDCLQU
KPFKXKFWCNGU Q GP ITWRQ [Q GZ±OGPGU
$KDNKQITCHÃC D±UKEC
(WPEVKQPCNKUO KP .KPIWKUVKEU #OUVGTFCO ,QJP $GPLCOKPU
'IIKP 5 #P +PVTQFWEVKQP VQ 5[UVGOKE (WPEVKQPCN .KPIWKUVKEU .QPFQP 2KPVGT
/CPQNKW / 'N GUVTWEVWTCNKUOQ NKPIWÃUVKEQ /CFTKF %±VGFTC
4QDKPU 4 * # 5JQTV *KUVQT[ QH .KPIWKUVKEU .QPFQP .QPIOCP
&KTXGP4 8TKGF 8
'UVC TGNCEKÉP RQFT± UGT EQORNGVCFC EQP WPC UGNGEEKÉP FG NGEVWTCU TGEQOGPFCFCU
2TQITCOCU
EQTTGURQPFKGPVGU
CNCUCUKIPCVWTCU
FG2TKOGT%KENQ
1RVCVKXCU
#UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%KENQ
#RTQZKOCEKÉP C NQU I¾PGTQU NKVGTCTKQU GP NC NKVGTCVWTC CPINQPQTVGCOGTKECPC
C 1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK
D 1RVCVKXC FG RTQHWPFK\CEKÉP 1VTCU 6KVWNCEKQPGU FG (KNQNQIÃC %KENQ KPFKUV
Q
1DLGVKXQU
*CEGT XGT CN CNWOPQ NC KORQTVCPEKC FG NQU I¾PGTQU GP NC GXQNWEKÉP FG NCU JKUVQTKCU NKVGTCTKCU
KPINGUC [ PQTVGCOGTKECPC UW GHKECEKC FGUETKRVKXC [ GZRNKECVKXC [ UW HWPEKÉP JGWTÃUVKEC RCTC NC NGEVWTC
[ NC KPVGTRTGVCEKÉP FG NQU VGZVQU NKVGTCTKQU
%QPVGPKFQ
.C RTGUGPVCEKÉP FG WPC KPVTQFWEEKÉP JKUVÉTKEC UQDTG NCU HQTOCEKQPGU IGP¾TKECU FG CODCU
NKVGTCVWTCU RTGUWRQPG NC NGEVWTC FG NQU CWVQTGU EN±UKEQU 2NCVÉP #TKUVÉVGNGU .QPIKPQ *QTCEKQ [ UW
KPHNWGPEKC GP NQU KPINGUGU 5KFPG[ 5&CPKGN 2WVVGPJCO $ ,QPUQP &T[FGP ,QJPUQP %QNGTKFIG
5JGNNG[ #TPQNF 5JCY [ QVTQU CUÃ EQOQ WPC GZRQUKEKÉP UWEKPVC FG NCU HQOWNCEKQPGU VGÉTKECU CXCP\CFCU
GP PWGUVTQ UKINQ +PENW[G RWGU GN EWTUQ RTQDNGOCU FG JKUVQTKC NKVGTCTKC [ NC XCNKFCEKÉP FG HQTOCU
IGP¾TKECU C NC NW\ FG NC TGXKUKÉP ETÃVKEC CEVWCN FG NQU I¾PGTQU TGEQPQEKOKGPVQ FG WPC VKRQNQIÃC D±UKEC
FG NC JKUVQTKC NKVGTCTKC [ CRNKECEKÉP FG CNIWPC HQTOC NKVGTCTKC EQPETGVC C NC KPVGTRTGVCEKÉP 'UVC CRNKECEKÉP
PQ UWRQPFT± GN FGUCTTQNNQ FGVCNNCFQ FG WPC HQTOC RQRWNCT EQPETGVC
%CT±EVGT FG NCU RT±EVKECU
.C CUKIPCVWTC EQPLWIC NC NGEVWTC FG VGZVQU D±UKEQU Q RCTVGU FG GUQU VGZVQU RTQEGFGPVGU FG NQU
CWVQTGU O±U KORQTVCPVGU SWG UG GPWOGTCP GP NC DKDNKQITCHÃC D±UKEC EQP NC CRNKECEKÉP UGNGEVKXC FG CNIWPC
HQTOC NKVGTCTKC [ UW RCRGN GZRNKECVKXQ G KPVGTRTGVCVKXQ C GZRNQTCT GP XCTKQU VGZVQU GUEQIKFQU 6CN HQTOC
FGDGT± UGT KORQTVCPVG FGPVTQ FG NC JKUVQTKC NKVGTCTKC [C EQPQEKFC
'XCNWCEKÉP
/GFKCPVG GLGTEKEKQU [ GZRQUKEKQPGU GP ENCUG CUÃ EQOQ GN EQTTGURQPFKGPVG GZCOGP HKPCN
$KDNKQITCHÃC D±UKEC
5GNGEEKÉP EQOGPVCFC FG EWCVTQ VGZVQU CN OGPQU FG GPVTG NQU UKIWKGPVGU
5KT 2JKNKR 5KFPG[ (TQO
)GQTIG 2WVVGPJCO (TQO
$GP ,QPUQP
,QJP &T[FGP (TQO
(TQO
5COWGN ,QJPUQP (TQO
*GPT[ (KGNFKPI (TQO
9KNNNCO 9QTFUYQTVJ (TQO
56 %QNGTKFIG (TQO
2$ 5JGNNG[ (TQO
*GPT[ ,COGU (TQO
65 'NKQV (TQO
0 (T[G
6JG &GHGPUG QH 2QGU[
6JG #TV QH 'PINKUJ 2QGVT[
6KODGT QT &KUEQWTUGU
#P 'UUC[ QH &TCOCVKE 2QGU[
2TGHCEG VQ (CDNGU#PEKGPV CPF /QFGTP
2TGHCEG VQ 5JCMGURGCTG
2TGHCEG VQ ,QUGRJ #PFTGYU
2TGHCEG VQ VJG 5GEQPF 'FKVKQP QH VJG .[TKECN $CNNCFU
$KQITCRJKC .KVGTCTKC
# FGHGPUG QH 2QGVT[
6JG #TV QH (KEVKQP 6JG 0QXGN
5GNGEVGF 'UUC[U
6JG #TEJGV[RGU QH .KVGTCVWTG
$KDNKQITCHÃC UGEWPFCTKC
(QYNGT #NCUVCKT .KVGTCVWTG *CTXCTF 72
(T[G 0 6JG #PCVQO[ QH %TKVKEKUO 2TKPEGVQP
*GTPCFK 2CWN $G[QPF )GPTG0GY &KTGEVKQPU KP .KVGTCT[ %NCUUKHKECVKQP+VJCEC N
%TCPG 4QPCNF 5 GF %TKVKEU CPF %TKVKEKUO %JKECIQ N
1NUQP 'NFGT 6JG 6JGQT[ QH %QOGF[$NQQOKPIVQPN
$WTMG -GPPGVJ 6JG 2JKNQUQRJ[ QH .KVGTCT[ (QTO 0GY ;QTM 2TGOKPIGT #NGZ GV CN2TKPEGVQP *CPFDQQM QH 2QGVKE 6GTOU 2TKPEGVQPN
/CFFGP &CXKF # 2TKOGT QH VJG 0QXGN 5ECTGETQY 2N
%QNGEEKÉP 6JG %TKVKECN +FKQO /CEOKNNCP
#UKIPCVWTC
$KQITCHÃC [ CWVQDKQITCHÃC CPINQPQTVGCOGTKECPCU
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
'N QDLGVKXQ FG GUVC CUKIPCVWTC UGT± KPVTQFWEKT CN CNWOPQ FGPVTQ FG GUVQU FQU I¾PGTQU NC $KQITCHÃC [ NC
#WVQDKQITCHÃC FGPVTQ FG NCU JKUVQTKCU NKVGTCTKCU KPINGUC [ PQTVGCOGTKECPC JCEKGPFQ WP TGEQTTKFQ RQT NQU
VGZVQU FG NQU RTKPEKRCNGU DKÉITCHQUCWVQDKÉITCHQU JCUVC NNGICT CN UKINQ :: .ÉIKECOGPVG UG GUVWFKCT±
NC VGQTÃC [ NC ETÃVKEC O±U TGEKGPVG UQDTG GUVQU FQU I¾PGTQU
%QPVGPKFQ
&GPVTQ FG NC NKVGTCVWTC KPINGUC UG GUVWFKCT± C NQU DKÉITCHQU EN±UKEQU FG NQU UKINQU :8++ [ :8+++ EQOQ
+\CCM 9CNVQP Q ,COGU $QUYGNN RCTC RCUCT C EQORCTCT GUVCU RTKOGTCU DKQITCHÃCU EQP NCU DKQITCHÃCU
NKVGTCTKCU O±U CEVWCNGU 'P EWCPVQ C NC CWVQDKQITCHÃC UG KPKEKCT± UW GUVWFKQ EQP NQU QTÃIGPGU FG NC
CWVQDKQITCHÃC GURKTKVWCN [ TGNKIKQUC FGUFG 5CP #IWUVÃP JCUVC ,QJP $WP[CP RCTC FGURW¾U GUVWFKCT NQU
VGZVQU FG NQU ITCPFGU CWVQDKÉITCHQU FG NC ¾RQEC XKEVQTKCPC GP +PINCVGTTC &GPVTQ FG NC VTCFKEKÉP
PQTVGCOGTKECPC UG XGT± GN FGUCTTQNNQ FGN I¾PGTQ FGUFG NCU PCTTCEKQPGU RWTKVCPCU RCUCPFQ RQT NCU
JKUVQTKCU FG ¾ZKVQ FG JQODTGU EQOQ $GPLCOKP (TCPMNKP [ VGTOKPCPFQ EQP NCU CWVQDKQITCHÃCU PQXGNK\CFCU
O±U TGEKGPVGU 7PC RCTVG FGN EWTUQ UG FGFKECT± CN CP±NKUKU FG GPUC[QU ETÃVKEQU UQDTG NQU FQU I¾PGTQU
NKVGTCTKQU JCEKGPFQ JKPECRK¾ GP NQU FGDCVGU CEVWCNGU UQDTG XGTFCF HKEEKÉP Q UQDTG NC RQUKDKNKFCF Q PQ
FG NC TGRTGUGPVCEKÉP FGN ;Q GP NC CWVQDKQITCHÃC
%CT±EVGT FG NCU RT±EVKECU
'N EWTUQ EQORTGPFGT± WPC UGTKG FG ENCUGU RT±EVKECU GP NCU SWG UG EQOGPVCT±P NQU VGZVQU UGNGEEKQPCFQU
VCPVQ HWGPVGU RTKOCTKCU EQOQ UGEWPFCTKCU 5GT±P NQU CNWOPQU NQU GPECTICFQU FG GZRQPGT UWU KFGCU UQDTG
NQU VGZVQU HQOGPVCPFQ GN FGDCVG [ NC ETÃVKEC EQP GN TGUVQ FG NQU EQORCÇGTQU
'XCNWCEKÉP
.QU O¾VQFQU FG GXCNWCEKÉP RQFT±P EQORTGPFGT FGUFG NC GNCDQTCEKÉP FG VTCDCLQU [ GZRQUKEKQPGU GP
ENCUG JCUVC WP GZCOGP CN HKPCNK\CT GN EWCVTKOGUVTG SWG EQPUKUVKT± GP WPC RTWGDC VGÉTKEQRT±EVKEC
$KDNKQITCHÃC D±UKEC
6JG +PPGT + $TKVKUJ .KVGTCT[ #WVQDKQITCRJ[ QH VJG 6YGPVKGVJ %GPVWT[ .QPFQP (CDGT
(KPPG[ $TKCP
CPF (CDGT 1P #WVQDKQITCRJ[ /KPPGCRQNKU 7PKXGTUKV[ QH /KPPGUQVC 2TGUU 1NPG[ ,COGU GF #WVQDKQITCRJ[ 'UUC[U 6JGQTGVKECN CPF %TKVKECN 2TKPEGVQP 2TKPEGVQP 7PKXGTUKV[
.GLGWPG 2JKNKRG
2TGUU 2CEJVGT /CTE GF
6GNNKPI .KXGU VJG $KQITCRJGTU #TV 9CUJKPIVQP 0GY 4GRWDNKE $QQMU #UKIPCVWTC
%CODKQU NKPIÒÃUVKEQU GP KPIN¾U EQPVGORQT±PGQ
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
'N GUVWFKCPVG CRTGPFGT± NQU RTKPEKRCNGU OGECPKUOQU FGN ECODKQ NKPIÒÃUVKEQ [ UW TGCNK\CEKÉP GP FKUVKPVQU
PKXGNGU FG NGPIWC &GDGT± KIWCNOGPVG UGT ECRC\ FG CRNKECT NCU CRTQZKOCEKQPGU VGÉTKECU C CURGEVQU
EQPETGVQU FGN KPIN¾U EQPVGORQT±PGQ
%QPVGPKFQU
'N EWTUQ CDQTFCT± FG OCPGTC IGPGTCN Q OQPQIT±HKEC NQU RTQEGUQU FG VTCPUHQTOCEKÉP NKPIÒÃUVKEC C SWG
UG XG UQOGVKFQ GN KPIN¾U EQPVGORQT±PGQ JCEKGPFQ JKPECRK¾ GP GN FKPCOKUOQ [ JGVGTQIGPGKFCF
GPEQPVTCFQU GP GUVG GUVCFKQ FG NGPIWC 5G TGXKUCT± NC XGNQEKFCF EQP SWG NQU ECODKQU UG RTQFWEGP GP NQU
FKUVKPVQU PKXGNGU [ XCTKGFCFGU FGN KPIN¾U EQPVGORQT±PGQ [ UG VTCVCT±P NQU HCEVQTGU FG GUVTWEVWTC UQEKCN
SWG KPEKFGP GP UW FGUCTTQNNQ
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P GP GN EQOGPVCTKQ FG VGZVQU UGNGEEKQPCFQU SWG RQFT±P KPENWKT EWGUVKQPGU VGÉTKECU
TGNCVKXCU CN ECODKQ NKPIÒÃUVKEQ
'XCNWCEKÉP
&GDGT± UWRGTCTUG WP GZCOGP GP GN SWG GN GUVWFKCPVG TGCNK\CT± WP EQOGPVCTKQ FG FKUVKPVQU VGZVQU
UGNGEEKQPCFQU
$KDNKQITCHÃC D±UKEC
%CFC RTQHGUQT KPFKECT± NC DKDNKQITCHÃC D±UKEC [ NCU NGEVWTCU D±UKECU TGEQOGPFCFCU
#UKIPCVWTC
%QPEGRVQU HWPFCOGPVCNGU FG NC OGVQFQNQIÃC FG NC GPUGÇCP\C FGN KPIN¾U
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
'UVC CUKIPCVWTC VKGPG GN HKP FG RTQRQTEKQPCT C NQU CNWOPQU WPC HQTOCEKÉP D±UKEC EQOQ
RTQHGUKQPCNGU FG NC GPUGÇCP\C FG 5GIWPFCU .GPIWCU 5G NGU QHTGEG C NQU CNWOPQU NC QRQTVWPKFCF FG
HCOKNKCTK\CTUG EQP NC JKUVQTKC FG NC GPUGÇCP\C FG 5GIWPFC .GPIWCU [ GURGEKCNOGPVG EQP GN &KUGÇQ
%WTTKEWNCT $CUG SWG EQPVGORNC NC .1)5' 5G RGTUKIWG EQPVTKDWKT C NC HQTOCEKÉP FGN CNWOPCFQ GP NQU
ECORQU FKUEKRNKPCTGU SWG EQORQPGP NCU ±TGCU FGN EWTTÃEWNQ [ GP NCU CRQTVCEKQPGU FG NC RUKEQNQIÃC NC
UQEKQNQIÃC [ NC RGFCIQIÃC CN GPVGPFKOKGPVQ FG NQU HGPÉOGPQU GFWECVKXQU
5G C[WFCT± CN CNWOPCFQ C RTQHWPFK\CT GP NCU V¾EPKECU RGFCIÉIKECU TGNCVKXCU C NCU EWCVTQ
FGUVTG\CU [ UG JCT±P VTCDCLQU RT±EVKEQU RCTC CRTGPFGT C TGCNK\CT WP RNCP FG CEEKÉP FQEGPVG EQPETGVQ
.GUUQP 2NCPPKPI
%QPVGPKFQU
5G VTCVCT±P GPVTG QVTQU NQU UKIWKGPVGU VGOCU
2GTURGEVKXCU JKUVÉTKECU GP NC GPUGÇCP\C FG 5GIWPFC .GPIWCU
.C .1)5' &%$
#RQTVCEKQPGU FG NC RUKEQNQIÃC NC UQEKQNQIÃC [ NC RGFCIQIÃC CN GPVGPFKOKGPVQ FG NQU HGPÉOGPQU
GFWECVKXQU
8CTKCDNGU FG NQU EQPVGZVQU GFWECVKXQU
'PUGÇCP\C FG NCU FGUVTG\CU
2NCPKHKECEKÉP FG WPKFCFGU FKF±EVKECU [ UGEWGPEKCEKÉP FG WPKFCFGU
/GVQFQNQIÃC
.C OGVQFQNQIÃC UGT± FG ECT±EVGT RT±EVKEQ .QU CNWOPQU VGPFT±P NC QRQTVWPKFCF FG QDUGTXCT C
RTQHGUKQPCNGU GP GN EQPVGZVQ FG ENCUG XÃFGQU [ FG HQTOWNCT WPKFCFGU FKF±EVKECU
'XCNWCEKÉP
.QU CNWOPQU TGCNK\CT±P WPC UGTKG FG GLGTEKEKQU QDNKICVQTKQU SWG UGT±P GPVTGICFQU C HKPCN FGN
EWTUQ GP HQTOC FG
#N RTKPEKRKQ FGN EWTUQ ECFC RTQHGUQT GUVCDNGEGT± NQU TGSWKUKVQU
CFKEKQPCNGU
RQTVHQNKQ
$KDNKQITCHÃC D±UKEC
&GXGNQRKPI 5GEQPF.CPIWCIG 5MKNNU 6JGQT[ CPF 2TCEVKEG %JCUVCKP -GPPGVJ N
*CTEQWTV $TCEG ,QXCPQXKEJ
5ECTEGNNC 4% 1ZHQTF 4 C
GF 0;
6JG 6CRGUVT[ QH .CPIWCIG .GCTPKPI $QUVQP *GKPNG *GKPNG
%CFC RTQHGUQTC HKLCT± NGEVWTCU CFKEKQPCNGU FG CEWGTFQ EQP NCU PGEGUKFCFGU FGN CNWOPCFQ
#UKIPCVWTC
%QPEGRVQU HWPFCOGPVCNGU FG UQEKQNKPIÒÃUVKEC KPINGUC
%T¾FKVQU
%CT±EVGT
C 1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'K RCTC (KNQNQIÃC +PINGUC
D 1RVCVKXC FG RTQHWPFK\CEKÉP 1VTCU 6KVWNCEKQPGU FG (KNQNQIÃC %KENQ KPFKUV
%KENQ
Q
1DLGVKXQU
%QPQEGT NCU DCUGU EKGPVÃHKECU FGN GUVWFKQ UQEKQNKPIÒÃUVKEQ UWU EQPEGRVQU V¾EPKECU [ RTKPEKRCNGU
O¾VQFQU FG KPXGUVKICEKÉP
%QPVGPKFQU
+PVTQFWEEKÉP CN GUVWFKQ FGN KPIN¾U GP UW EQPVGZVQ JWOCPQ DCUCFQ GP OQFGNQU [ O¾VQFQU
UQEKQNKPIÒÃUVKEQU 'N EWTUQ UG EGPVTCT± GP GZCOKPCT GN EQPEGRVQ FG NGPIWC GUV±PFCT [ GP EÉOQ NCU
XCTKCEKQPGU NKPIÒÃUVKECU RWGFGP TGNCEKQPCTUG FG OCPGTC UKUVGO±VKEC EQP XCTKCDNGU UQEKQNÉIKECU VCNGU EQOQ
GFCF UGZQ GPVQTPQ UQEKCN QTKIGP ¾VPKEQ GVE .C RTQHWPFK\CEKÉP GP WPCU W QVTCU EWGUVKQPGU RQFT±
JCEGTUG C VTCX¾U FG VGOCU OQPQIT±HKEQU
%CT±EVGT FG NCU RT±EVKECU
5G CPCNK\CT±P HTCIOGPVQU QTCNGU [ GUETKVQU CRNKE±PFQUG NC VGQTÃC [ FKUEWVKGPFQ CSWGNNQU
TGNGXCPVGU FG NC FGUETKREKÉP UQEKQNKPIÒÃUVKEC
'XCNWCEKÉP
5G TGCNK\CT± WP GZCOGP GP GN SWG GN CNWOPQ GZRQPFT± NQU EQPQEKOKGPVQU VGÉTKEQU CFSWKTKFQU [
EQOGPVCT± HTCIOGPVQU FG GUVWFKQU UQEKQNKPIÒÃUVKEQU
$KDNKQITCHÃC D±UKEC
.CPIWCIG CPF UQEKCN EQPVGZV 2GPIWKP
*WFUQP 4 5QEKQNKPIWKUVKEU %CODTKFIG %72
)KINKQNK 22 GF #UKIPCVWTC
'UETKVQTCU KPINGUCU FG NQU FQU ÐNVKOQU UKINQU
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK
%KENQ
Q
1DLGVKXQU
6TCU JCDGT EWTUCFQ GUVC CUKIPCVWTC GN CNWOPQ
%QPQEGT± NCU RTKPEKRCNGU GUETKVQTCU KPINGUCU FG NQU FQU ÐNVKOQU UKINQU [ UWU QDTCU O±U UKIPKHKECVKXCU
7DKECT± GUVCU QDTCU GP GN EQPVGZVQ VCPVQ FG NC NKVGTCVWTC KPINGUC GP IGPGTCN EQOQ FG NC NKVGTCVWTC
GUETKVC RQT OWLGTGU
+FGPVKHKECT± NQU TCUIQU FKUVKPVKXQU KPFKECVKXQU FG NC GUETKVWTC GUETKVC RQT OWLGTGU
+PVGTRTGVCT± NQU VGZVQU C[WFCFQ RQT NQU RTKPEKRKQU VGÉTKEQU GZRWGUVQU FWTCPVG GN EWTUQ
%QPVGPKFQ
5G GUVWFKCT±P NQU VGZVQU O±U TGNGXCPVGU FG NC NKVGTCVWTC GUETKVC RQT CWVQTCU KPINGUCU FWTCPVG NQU
UKINQU :+: [ :: RTGUVCPFQ GURGEKCN CVGPEKÉP RQT WPC NCFQ C NCU RGEWCNKCTKFCFGU FG NC NKVGTCVWTC
HGOGPKPC KPINGUC [ C UW UKIPKHKECEKÉP GP GN EQPLWPVQ FG NC NKVGTCVWTC KPINGUC [ RQT QVTQ C NC FKP±OKEC
FG NC GXQNWEKÉP FG NCU ETGCFQTCU GP NQU FKUVKPVQU PKXGNGU UQEKQEWNVWTCN JKUVÉTKEQ GUVTKEVCOGPVG CTVÃUVKEQ
GVE
%CT±EVGT FG NCU RT±EVKECU
'N EWTUQ EQORTGPFGT± UGUKQPGU RT±EVKECU GURGEÃHKECU SWG UG FGFKECT±P CN EQOGPVCTKQ FG NCU
NGEVWTCU UGNGEEKQPCFCU [ C NC TGHNGZKÉP UQDTG NCU OKUOCU FGUFG FKUVKPVQU GPHQSWGU ETÃVKEQU 5G HQOGPVCT±
GURGEKCNOGPVG GN FGDCVG [ NC GZRQUKEKÉP FG KFGCU FGN CNWOPCFQ UQDTG VQFCU NCU EWGUVKQPGU SWG KPEKFCP
GP NQU VGZVQU NC VGO±VKEC [ NC OCVGTKC FGN EWTUQ GP IGPGTCN
'XCNWCEKÉP
.QU O¾VQFQU FG GXCNWCEKÉP RQFT±P EQORTGPFGT FGUFG NC GNCDQTCEKÉP FG VTCDCLQU [Q
GZRQUKEKQPGU GP ENCUG JCUVC GZ±OGPGU SWG KPENW[CP RTWGDCU VGÉTKEQRT±EVKECU
$KDNKQITCHÃC D±UKEC
9TKVKPI CPF 5GZWCN &KHHGTGPEG %JKECIQ 7 QH %JKECIQ RTGUU $GNUG[ %CVJGTKPG ,CPG /QQTG GFU 6JG (GOKPKUV 4GCFGT .QPFQP /CEOKNNCP )KNDGTV 5CPFTC 5WUCP )WDCT 6JG /CFYQOCP KP VJG #VVKE 6JG 9QOCP 9TKVGT CPF VJG
0KPGVGGPVJ%GPVWT[ .KVGTCT[ +OCIKPCVKQP 0GY *CXGP ;CNG 7 2TGUU 0Q /CPIU .CPF 6JG 2NCEG QH VJG 9QOCP 9TKVGT KP VJG 6YGPVKGVJ %GPVWT[ 8QNU 0GY
#DGN 'NK\CDGVJ GF
*CXGP ;CNG 72TGUU )TGGPG )C[NG %QRR¾NKC -CJP GFU
/GVJWGP /CMKPI C &KHHGTGPEG (GOKPKUV .KVGTCT[ %TKVKEKUO .QPFQP
#UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%KENQ
+PIN¾U COGTKECPQ
C 1RVCVKXC RCTC (KNQNQIÃC +PINGUC
D 1RVCVKXC FG 2TQHWPFK\CEKÉP 1VTCU 6KVWNCEKQPGU FG (KNQNQIÃC %KENQ KPFKUV
Q
1DLGVKXQU
5G GURGTC SWG CN HKPCNK\CT GN EWTUQ NQU GUVWFKCPVGU UGCP ECRCEGU FG C KFGPVKHKECT [ GPVGPFGT
NC XCTKGFCF COGTKECPC FGN KPIN¾U D TGEQPQEGT [ CPCNK\CT NQU RTKPEKRCNGU TCUIQU NKPIÒÃUVKEQU FGN KPIN¾U
COGTKECPQ E CPCNK\CT NCU RTKPEKRCNGU FKHHGTGPEKCU GPVTG GN KPIN¾U DTKV±PKEQ [ GN KPIN¾U COGTKECPQ GP
FKUVKPVQU PKXGNGU F KFGPVKHKECT NCU ECTCEVGTÃUVKECU O±U KORQTVCPVGU FG NQU FKHGTGPVGU FKCNGEVQU COGTKECPQU
FGUFG WPC RGTURGEVKXC UQEKQNKPIÒÃUVKEC [ G JCDGT FGUCTTQNNCFQ JCDKNKFCFGU RCTC NC KPXGUVKICEKÉP WNVGTKQT
GP NQU VGOCU SWG UG GUVWFKCP GP GUVG RTQITCOC
%QPVGPKFQU
'N EWTUQ EQPUVC FG FQU RCTVGU RTKPEKRCNGU 6JGQT[ [ 7UCIG 'P NC RCTVG VGÉTKEC UG
CDQTFCT±P NQU UKIWKGPVGU VGOCU RTKPEKRCNGU C 1TÃIGPGU FGN KPIN¾U COGTKECPQ G KPHNWGPEKCU FG QVTCU
NGPIWCU GP GN KPIN¾U FG #O¾TKEC D %QORCTCEKÉP FG NCU FQU XCTKGFCFGU UVCPFCTF FGN KPIN¾U O±U
KORQTVCPVGU NC DTKV±PKEC [ NC COGTKECPC E +PIN¾U COGTKECPQ JCDNCFQ 6CNN VCNM 5NCPI GVE F
&KCNGEVQU FGN KPIN¾U COGTKECPQ FG ''77 KPIN¾U ECPCFKGPUG $NCEM 'PINKUJ
.C RCTVG FG WUCIG VKGPG EQOQ QDLGVKXQ RTKPEKRCN GN RTQRQTEKQPCT CN CNWOPQ RT±EVKEC QTCN [
GUETKVC FG KPIN¾U COGTKECPQ C WP PKXGN CXCP\CFQ RCTC NQ EWCN UG WUCT± GN NKDTQ #OGTKECP &KOGPUKQPU
#FXCPEGF XGT DKDNKQITCHÃC
%CT±EVGT FG NCU RT±EVKECU
2CTC NC RCTVG VGÉTKEC GN RTQHGUQT GNCDQTCT± YQTMUJGGVU RCTC SWG NQU CNWOPQU RWGFCP CRNKECT
NQ GUVWFKCFQ GP NCU ENCUGU VGÉTKECU C UKVWCEKQPGU [ RTQDNGOCU EQPETGVQU 5G VTCDCLCT± EQP FKEJCU JQLCU
FG VTCDCLQ CN HKPCNK\CT ECFC WPKFCF FG CRTGPFK\CLG .C RCTVG FG WUCIG GU GP UÃ NC RCTVG OGTCOGPVG
RT±EVKEC [ UG FGFKECT± WPC FG NCU VTGU JQTCU UGOCPCNGU FG NCU SWG EQPUVC NC CUKIPCVWTC C NC GUVKOWNCEKÉP
FG NCU FKUVKPVCU JCDKNKFCFGU NGEVWTC GUETKVWTC EQORTGPUKÉP [ GZRTGUKÉP QTCN FGPVTQ FG GUVC RCTVG
'XCNWCEKÉP
.C CUKIPCVWTC VGPFT± WP ÐPKEQ GZCOGP GUETKVQ HKPCN SWG TGHNGLCT± NQU EQPVGPKFQU [ QDLGVKXQU
RGTUGIWKFQU FWTCPVG GN EWTUQ RQT NQ SWG FKEJQ GZCOGP VGPFT± WPC RCTVG FGFKECFC C NC VGQTÃC [ QVTC C
NC RCTVG FG WUCIG #UKOKUOQ GN RTQHGUQT VGPFT± GP EWGPVC RCTC NC GXCNWCEKÉP GN VTCDCLQ TGCNK\CFQ [
RTGUGPVCFQ RQT ECFC CNWOPQ FWTCPVG GN EWTUQ [ C VTCX¾U FG NCU YQTMUJGGVU
$KDNKQITCHÃC D±UKEC
# 7UCIG
#OGTKECP &KOGPUKQPU #FXCPEGF 0GY ;QTM .QPIOCP
&KNNCTF , . # *KUVQT[ QH #OGTKECP 'PINKUJ 0GY ;QTM .QPIOCP
/CTEMYCTFV # * #OGTKECP 'PINKUJ 0GY ;QTM 1ZHQTF 7PKXGTUKV[ 2TGUU
2GVGTU (,, 5YCP 6 #OGTKECP 'PINKUJ # *CPFDQQM CPF 5QEKQNKPIWKUVKE 2GTURGEVKXG
1UNQ 0QXWU (QTNCI
5XGLEGT # 5VCPFCTF 'PINKUJ KP VJG 7PKVGF 5VCVGU CPF 'PINCPF 6JG *CIWG /QWVQP
2WDNKUJGTU
6TWFIKNN 2 CPF *CPPCJ , +PVGTPCVKQPCN 'PINKUJ # )WKFG VQ 8CTKGVKGU QH 5VCPFCTF 'PINKUJ
10GKNN 4 /WIINGUVQPG 2 $ 6JGQT[
)TGCV $TKVCKP 'FYCTF #TPQNF 2WDNKUJGTU
#UKIPCVWTC
'N KPIN¾U GP NC ¾RQEC FG 5JCMGURGCTG
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
'N EWTUQ FGDGT± FGURGTVCT GP GN GUVWFKCPVG NC UGPUKDKNKFCF JCEKC NQU RTQEGUQU FG ECODKQ
NKPIÒÃUVKEQ [ FG GXQNWEKÉP JKUVÉTKEC FG NC NGPIWC EGPVTCPFQ GN GUVWFKQ GP GN CP±NKUKU FGN RGTKQFQ EQPQEKFQ
EQOQ
1HTGEGT± NQU OGECPKUOQU PGEGUCTKQU RCTC CDQTFCT WP CP±NKUKU VGZVWCN FGUFG
WPC RGTURGEVKXC NKPIÒÃUVKEC RNWTKFKOGPUKQPCN /GFKCPVG GN EQOGPVCTKQ FG VGZVQU QTKIKPCNGU UGNGEEKQ
PCFQU GN GUVWFKCPVG CRTGPFGT± NQU HGPÉOGPQU O±U TGRTGUGPVCVKXQU FGN FGUCTTQNNQ NKPIÒÃUVKEQ FGN RGTKQFQ
'P ÐNVKOC KPUVCPEKC GN EWTUQ RTGVGPFG UGTXKT FG KPUVTWOGPVQ C QVTCU OCVGTKCU FG NKVGTCVWTC Q EWNVWTCNGU
O±U CORNKCU KPENWKFCU GP GN 2NCP FG 'UVWFKQU
'CTN[ /QFGTP 'PINKUJ
%QPVGPKFQU
'N EWTUQ CDQTFCT± FG OCPGTC IGPGTCN Q OQPQIT±HKEC NC UKVWCEKÉP NKPIÒÃUVKEC FG NC +PINCVGTTC FG
NQU UKINQU :8+ [ :8++ 'P GUVG UGPVKFQ UG CPCNK\CT±P NCU EKTEWPUVCPEKCU UQEKQEWNVWTCNGU GP SWG UG
KPUETKDGP NCU VTCPUHQTOCEKQPGU UWHTKFCU RQT NC NGPIWC NCU HWGPVGU RCTC GN GUVWFKQ [ NQU RTQDNGOCU C NQU
SWG UG GPHTGPVC GN NKPIÒKUVC +IWCNOGPVG UG GUVWFKCT±P EWGUVKQPGU TGNCVKXCU C NC DÐUSWGFC FG KFGPVKFCF
[ TGIWNCTK\CEKÉP NKPIÒÃUVKEC 2QT ÐNVKOQ UG TGXKUCT±P NQU RTKPEKRCNGU CURGEVQU HQPQNÉIKEQU OQTHQNÉIKEQU
UKPV±EVKEQU UGO±PVKEQU [ VGZVWCNGU FGN 'CTN[ /QFGTP 'PINKUJ C VTCX¾U FGN EQOGPVCTKQ FG VGZVQU
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P HWPFCOGPVCNOGPVG GP GN CP±NKUKU [ EQOGPVCTKQ RTQITGUKXCOGPVG
OGPQU IWKCFQ [ O±U INQDCN FG VGZVQU UGNGEEKQPCFQU
'XCNWCEKÉP
.C GXCNWCEKÉP VGPFT± ECT±EVGT EQPVKPWQ 'P GUVG UGPVKFQ UG XCNQTCT± NC RCTVKEKRCEKÉP GP ENCUG
C VTCX¾U FG VTCDCLQU FG FKXGTUC ÃPFQNG [ GZVGPUKÉP SWG JCDT±P FG TGCNK\CTUG C NQ NCTIQ FGN EWTUQ 'UVQU
EQPUKUVKT±P GP NC NGEVWTC FG CTVÃEWNQU Q NKDTQU UGNGEEKQPCFQU NC RTGRCTCEKÉP KPFKXKFWCN FG VGOCU
EQPETGVQU NC TGCNK\CEKÉP FG GLGTEKEKQU RWPVWCNGU SWG HCXQTG\ECP NC EQORTGPUKÉP [ CUKOKNCEKÉP FG NQU
EQPEGRVQU [ EQPVGPKFQU FGN RTQITCOC GVE +IWCNOGPVG FGDGT± UWRGTCTUG WP GZCOGP EQP RTGIWPVCU FG
GZVGPUKÉP XCTKCDNG FGUFG NCU FG QREKÉP OÐNVKRNG JCUVC GN EQOGPVCTKQ FG WP VGOC Q VGZVQ FCFQ ¾UVG
ÐNVKOQ PQ XKUVQ GP ENCUG
$KDNKQITCHÃC D±UKEC
+PVTQFWEVKQP VQ 'CTN[ /QFGTP 'PINKUJ %CODTKFIG %72
$CTDGT % 'CTN[ /QFGTP 'PINKUJ .QPFQP #PFT¾ &GWVUEJ
.CUU 4 GF GP RWDNKECEKÉP 6JG %CODTKFIG JKUVQT[ QH VJG 'PINKUJ NCPIWCIG XQN +++ %CODTKFIG
)ÌTNCEJ / %72
#UKIPCVWTC
+PVTQFWEEKÉP C NC NÉIKEC [ NQU O¾VQFQU HQTOCNGU GP NKPIÒÃUVKEC KPINGUC
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'K
%KENQ
Q
1DLGVKXQU
C %QPQEGT NCU PQVCEKQPGU UKODÉNKECU WVKNK\CFCU GP NÉIKEC HQTOCN
D 6TCFWEKT GP V¾TOKPQU NÉIKEQU GZRTGUKQPGU FGN KPIN¾U
E 4GCNK\CT CFGEWCFCOGPVG FGFWEEKQPGU NÉIKECU UQDTG NGPIWCLG PCVWTCN KPIN¾U
F 4GEQPQEGT NCU NKOKVCEKQPGU FG NQU NGPIWCLGU NÉIKEQU RCTC UW CRNKECEKÉP CN NGPIWCLG PCVWTCN
%QPVGPKFQU
'N EWTUQ EQPUKUVKT± GP NC RTGUGPVCEKÉP FG NQU EQPEGRVQU HWPFCOGPVCNGU FG NÉIKEC HQTOCN FG OC[QT
CRNKECEKÉP RCTC NC NKPIÒÃUVKEC 5G RQPFT± GURGEKCN ¾PHCUKU GP GN CP±NKUKU HQTOCN FG GPWPEKCFQU KPINGUGU
NC EQPUKFGTCEKÉP FG NCU XGPVCLCU [ NKOKVCEKQPGU FG FKEJQ VKRQ FG CP±NKUKU NC TGCNK\CEKÉP FG FGFWEEKQPGU
HQTOCNGU NC EWCPVKHKECEKÉP NQU QRGTCFQTGU OQFCNGU NC NÉIKEC FKHWUC [ NQU O¾VQFQU FG GUVWFKQ HQTOCN
PQ FKUETGVQ FGN NGPIWCLG PCVWTCN
%CT±EVGT FG NCU RT±EVKECU
5G FGFKECT±P JQTCU FGN EWTUQ C RT±EVKECU EQPUKUVGPVGU GP NC TGCNK\CEKÉP FG CP±NKUKU FG
GPWPEKCFQU [ TGCNK\CEKÉP FG FGFWEEKQPGU NÉIKECU .QU CNWOPQU JCT±P GLGTEKEKQU SWG NWGIQ UG EQOGPVCT±P
GP ENCUG
'XCNWCEKÉP
5G TGCNK\CT± WP ÐPKEQ GZCOGP HKPCN SWG EQPUVCT± FG FQU RCTVGU C RTGIWPVCU VGÉTKECU UQDTG
VGOCU VTCVCFQU GP ENCUG RTGHGTGPVGOGPVG FG EQOGPVCTKQ ETÃVKEQ FG NC CRNKECEKÉP FG NQU O¾VQFQU HQTOCNGU
CN GUVWFKQ FGN NGPIWCLG D TGUQNWEKÉP FG GLGTEKEKQU FG CP±NKUKU HQTOCN FG GPWPEKCFQU KPINGUGU .QU
CNWOPQU FGDGT±P TGCNK\CT CFGO±U WP VTCDCLQ UQDTG TGNCEKÉP NGPIWCLG PCVWTCNNÉIKEC HQTOCN &KEJQ
VTCDCLQ UG JCT± DCLQ NC UWRGTXKUKÉP FGN RTQHGUQT
$KDNKQITCHÃC D±UKEC
)CTTKFQ , .ÉIKEC [ NKPIÒÃUVKEC /CFTKF 5ÃPVGUKU
.GEVWTCU D±UKECU TGEQOGPFCFCU
.ÉIKEC RCTC NKPIÒKUVCU /CFTKF 2CTCPKPHQ
&GCÇQ # +PVTQFWEEKÉP C NC NÉIKEC HQTOCN /CFTKF #NKCP\C
/CE%CYNG[ , 'XGT[VJKPI VJCV NKPIWKUVU JCXG CNYC[U YCPVGF VQ MPQY CDQWV NQIKE 1ZHQTF
#NNYQQF , #PFGTUQP .) &CJN ¤ $NCEMYGNN
#UKIPCVWTC
.KVGTCVWTC EQPVGORQT±PGC GP NGPIWC KPINGUC FG NQU RCÃUGU FG NC %QOOQPYGCNVJ
%T¾FKVQU
%CT±EVGT
C 1RVCVKXC RCTC (KNQNQIÃC +PINGUC
D 1RVCVKXC FG 2TQHWPFK\CEKÉP 1VTCU 6KVWNCEKQPGU FG (KNQNQIÃC %KENQ KPFKUV
%KENQ
Q
1DLGVKXQU
2TQRQTEKQPCT CN CNWOPQ WPC XKUKÉP INQDCN FG NC EQORNGLKFCF UQEKQEWNVWTCN RQNÃVKEC NKVGTCTKC
[ NKPIÒÃUVKEC FGN ECORQ GOGTIGPVG FG NCU
C RCTVKT FG WP CP±NKUKU FG NC
UKVWCEKÉP RQUVEQNQPKCN CRQ[CFC GP VGZVQU UKIPKHKECVKXQU FG FKXGTUQU RCÃUGU FGN EQPVKPGPVG CHTKECPQ
#WUVTCNKC %CPCF± GN %CTKDG NC +PFKC [ 0WGXC <GNCPFC HWPFCOGPVCNOGPVG
0GY .KVGTCVWTGU KP 'PINKUJ
5KVWCT CN CNWOPQ GP GN EGPVTQ FGN FGDCVG EQPVGORQT±PGQ UQDTG GN ECPQP [ NCU 0GY .KVGTCVWTGU
KP 'PINKUJ UQDTG OWNVKEWNVWTCNKUOQ RQNÃVKEC FG NC KFGPVKFCF RQNKVKECN EQTTGEVPGUU [ UQDTG GN TGVQ SWG
RNCPVGCP NCU UQEKGFCFGU OWNVKTTCEKCNGU [ OWNVK¾VPKECU
(QOGPVCT NC NGEVWTC NC TGHNGZKÉP GN VTCDCLQ ETÃVKEQ [ NC KPXGUVKICEKÉP UQDTG VGZVQU EQPVGORQT±
PGQU FG GZEQNQPKCU GUETKVQU GP KPIN¾U
%QPVGPKFQ
%QPEGRVQ FG NQ RQUVEQNQPKCN [ FGUCTTQNNQ FG NCU NKVGTCVWTCU RQUVEQNQPKCNGU .C VGQTÃC
RQUVEQNQPKCN GP GN EQPVGZVQ FG NC VGQTÃC ETÃVKEC GP NGPIWC KPINGUC /QFGNQU CRTQZKOCVKXQU C NCU FKUVKPVCU
NKVGTCVWTCU FG GZEQNQPKCU .GPIWCLG [ GUVTCVGIKCU VGZVWCNGU GP NCU NKVGTCVWTCU RQUVEQNQPKCNGU 6GQTÃCU [
VTCFKEKÉP NKVGTCTKC GP #HTKEC GN %CTKDG NC +PFKC [ GN DNQSWG HQTOCFQ RQT %CPCF± #WUVTCNKC [ 0WGXC
<GNCPFC .C GUETKVWTC [ NC NGEVWTC FG NQ RQUVEQNQPKCN JQ[
%CT±EVGT FG NCU RT±EVKECU
'N EWTUQ VKGPG WPC PGEGUCTKC QTKGPVCEKÉP VGÉTKEQRT±EVKEC ,WPVQ EQP GN FGUCTTQNNQ FG NQU
EQPVGPKFQU VGÉTKEQU GURGEKHKECFQU GP GN RTQITCOC UG EQODKPCT± NC NGEVWTC ETÃVKEC FG WPC CORNKC
UGNGEEKÉP FG VGZVQU RQUVEQNQPKCNGU EQPVGORQT±PGQU 5G QHTGEGT±P FKHGTGPVGU CRTQZKOCEKQPGU ETÃVKECU C
NQU VGZVQU CNGPVCPFQ C NC TGHNGZKÉP GP GN ±ODKVQ OWNVKEWNVWTCN SWG RNCPVGC NC CUKIPCVWTC
'XCNWCEKÉP
.QU O¾VQFQU FG GXCNWCEKÉP RQFT±P EQORTGPFGT FGUFG NC GNCDQTCEKÉP FG VTCDCLQU [Q
GZRQUKEKQPGU GP ENCUG JCUVC GZ±OGPGU SWG KPENW[CP RTWGDCU VGÉTKEQRT±EVKECU
$KDNKQITCHKC D±UKEC
2CUV VJG .CUV 2QUV 6JGQTK\KPI 2QUV%QNQPKCNKUO CPF 2QUVOQFGTPKUO
#FCO +CP *GNGP 6KHHKP GFU
.QPFQP *CTXGUVGT 9JGCVUJGCH 6JG 'ORKTG 9TKVGU $CEM 6JGQT[ CPF 2TCEVKEG KP 2QUV%QNQPKCN .KVGTCVWTGU
#UJETQHV $KNN GV CN
.QPFQP 4QWVNGFIG $GPUQP 'WIGPG .9%QPPQNN[ GFU
4QWVNGFIG 'PE[ENQRGFKC QH 2QUV%QNQPKCN .KVGTCVWTGU KP 'PINKUJ 0;
0CVKQP CPF 0CTTCVKQP 0; 4QWVNGFIG 5RKXCM )C[CVTK %JCMTCXQTV[ +P 1VJGT 9QTNFU 0; /GVJWGP 5RKXCM )C[CVTK %JCMTCXQTV[ 6JG 2QUV%QNQPKCN %TKVKE 0; 4QWVNGFIG $JCDJC *QOK
#UKIPCVWTC
.KVGTCVWTC RQRWNCT GP ''77 GN 9GUVGTP [ NC PQXGNC FGN QGUVG
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
&CT C EQPQEGT CN CNWOPQ EÉOQ NCU HQTOCU RQRWNCTGU JCP EQPVTKDWKFQ C HQTOCT NC NKVGTCVWTC
PQTVGCOGTKECPC 'ZCOKPCT GURGEKCNOGPVG NQU RTQEGUQU FG OQFKHKECEKÉP FG ETKVGTKQU FG CEGRVCEKÉP
TGEGREKÉP [ GXCNWCEKÉP KPVGTRTGVCVKXC SWG JCP FGVGTOKPCFQ NC XKFC FG GUVCU HQTOCU RQRWNCTGU [ UW
KORQTVCPEKC FGPVTQ FG NC JKUVQTKC NKVGTCTKC
%QPVGPKFQ
G
'ZRQPGT FG HQTOC EQPETGVC NC HQTOC GP SWG CNIWPCU GZRTGUKQPGU NKVGTCTKCU OCU EQPQEKFCU GP
GUVG ECUQ GN 9GUVGTP [ UW TGNCEKÉP EQP NC PQXGNC FGN 1GUVG JCP EQPVTKDWKFQ C HQTOCT NC JKUVQTKC
NKVGTCTKC COGTKECPC .C UGNGEEKÉP FG VGZVQU EQODKPC QDTCU FG XCTKCU OQFCNKFCFGU 8CTFKU (KUJGT (TCPM
0QTTKU *)CTNCPF (TCPM 9CVGTU 1XGP 9KUVGT (TGFGTKEM /CPHTGF GVE FG NC PQXGNC FG 1GUVG
FGLCPFQ CUÃ XGT UW KPVGTFGRGPFGPEKC [ EQPUVCPVG TGEKRTQEKFCF
G
G
%CT±EVGT FG NCU RT±EVKECU
%QOGPVCTKQ GURGEÃHKEQ FG CN OGPQU EKPEQ QDTCU CP±NKUKU [ WVKNK\CEKÉP FG OGFKQU CWFKQXKUWCNGU
UK GZKUVGP
'XCNWCEKÉP
/GFKCPVG GZ±OGPGU [ VTCDCLQU FG KPXGUVKICEKÉP
$KDNKQITCHÃC D±UKEC [ IGPGTCN
6JG 0QXGN QH VJG #OGTKECP 9GUV .QPFQP .KPEQNP 7 QH 0GDTCUMC 2TGUU ,COGU - (QNUQO 6JG #OGTKECP 9GUVGTP 0QXGN 0GY *CXGP %QNNGIG 7 2TGUU (TGF 'TKUOCP CPF 4KEJCTF 'VWNCKP GFU (KHV[ 9GUVGTP 9TKVGTU # $KQDKDNKQITCRJKECN 5QWTEGDQQM
,QJP /KNVQP
)TGGPYQQF 2TGUU 6JG #OGTKECP .KVGTCT[ 9GUV /CPJCVVCP -CPUCU 5WPHNQYGT 72TGUU ,C[ )WTKCP 9GUVGTP #OGTKECP 9TKVKPI 6TCFKVKQP CPF 2TGOKUGU &GNCPF (NQT 4KEJCTF 'VWNCKP
#UKIPCVWTC
.KVGTCVWTC RQRWNCT GP +PINCVGTTC
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
&CT C EQPQEGT CN CNWOPQ NC HQTOC GP SWG NCU HQTOCU NKVGTCTKCU RQRWNCTGU JCP EQPVTKDWKFQ C
HQTOCT NC NKVGTCVWTC KPINGUC 5WDTC[CT GP GURGEKCN NQU RTQEGUQU FG OQFKHKECEKÉP FG ETKVGTKQU FG
CEGRVCEKÉP TGEGREKÉP [ GXCNWCEKÉP KPVGTRTGVCVKXC SWG JCP EQPNNGXCFQ GUVCU HQTOCU RQRWNCTGU [ UW
KPEQTRQTCEKÉP Q GNKOKPCEKÉP FGPVTQ FG NC JKUVQTKC NKVGTCTKC
%QPVGPKFQ
'ZRQPGT FG HQTOC EQPETGVC NC HQTOC GP SWG CNIWPCU GZRTGUKQPGU NKVGTCTKCU O±U EQPQEKFCU
TGNCVQU FG CXGPVWTCU NKDTQU FG XKCLGU
TQOCPEGU HKEEKÉP FGVGEVKXGUEC EKGPEKC HKEEKÉP PQXGNC
UGPUCEKQPCNKUVC PQXGNC IÉVKEC GVEUG JCP FGUCTTQNNCFQ [ EQPVTKDWKFQ C NC HQTOCEKÉP FG NC HKEEKÉP
KPINGUC &GVGPGTUG GURGEKCNOGPVG GP WPC FG GUVCU HQTOCU [ UGNGEEKQPCT QDTCU FG NC OKUOC OQUVTCPFQ
CN OKUOQ VKGORQ TCUIQU FG UKOKNKVWF EQP QVTCU HQTOCU IGP¾TKECU
VJTKNNGTU
5GNGEEKQPCT HQTOCU GP VQTPQ C WPC TCOC IGP¾TKEC FQOKPCPVG
%CT±EVGT FG NCU RT±EVKECU
%QOGPVCTKQ GURGEÃHKEQ FG NCU HQTOCU GUEQIKFCU CP±NKUKU [ WVKNK\CEKÉP FG OGFKQU CWFKQXKUWCNGU
UK GZKUVGP
'XCNWCEKÉP
/GFKCPVG GZ±OGPGU TGINCFQU [ VTCDCLQU FG KPXGUVKICEKÉP
$KDNKQITCHÃC D±UKEC
'P VQTPQ C HQTOCU RQRWNCTGU FG NC HKEEKÉP
6JG 'PINKUJ %QOOQP 4GCFGT %JKECIQ .GCXKU 3# (KEVKQP CPF VJG 4GCFKPI 2WDNKE .QPFQP .QYGPVJCN . .KVGTCVWTG 2QRWNCT %WNVWTG CPF 5QEKGV[ 2TGPVKEG *CNN 0GWDGTI $' 2QRWNCT .KVGTCVWTG # *KUVQT[ )WKFG 2GPIWKP 9CTRQNG - 4GCFKPI D[ 0WODGTU %QPVGORQTCT[ 2WDNKUJKPI CPF 2QRWNCT (KEVKQP .QPFQP *QICTVJ 4 6JG 7UGU QH .KVGTCE[ .QPFQP #NVKEM 4
#UKIPCVWTC
4GIKUVTQU [ XCTKGFCFGU NKPIÒÃUVKECU FGN KPIN¾U
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'K
%KENQ
Q
'UVG EWTUQ GU EQPVKPWCEKÉP [ FGUCTTQNNQ FGN FG
R±I %QPEGRVQU HWPFCOGPVCNGU FG UQEKQNKPIÒÃUVKEC KPINGUC XGT
1DLGVKXQU
#FGO±U FG WPQU EQPVGPKFQU VGÉTKEQU OÃPKOQU GN GUVWFKCPVG FGDGT± EQPQEGT NCU ECTCEVGTÃUVKECU
XGTDCNGU [ RTCIO±VKEQEQOWPKECVKXCU FG CNIWPC FG NCU XCTKGFCFGU FG NC NGPIWC KPINGUC
%QPVGPKFQU
'P GUVG EWTUQ UG CDQTFCT±P FUKVKPVQU EQPEGRVQU EQOQ GUVKNQ TGIKUVTQ FKCNGEVQ WUQ XCTKGFCF
NKPIÒÃUVKEC GVE TGNCVKXQU C NCU FKUVKPVCU WVKNK\CEKQPGU [ UGNGEEKQPGU FG NGPIWC SWG NQU JCDNCPVGU RWGFGP
TGCNK\CT 5G VTCVCT±P FG OCPGTC IGPGTCN Q OQPQIT±HKEC NCU FKHGTGPEKCU GPVTG NGPIWC QTCN [ GUETKVC
NKVGTCTKC [ EQNQSWKCN HQTOCN G KPHQTOCN FKCNGEVQU IGQIT±HKEQU [ UQEKCNGU CEGPVQU FGN KPIN¾U GVE
EQPUKFGTCPFQ CURGEVQU UKPETÉPKEQU [ FKCETÉPKEQU FG VCNGU ENCUKHKECEKQPGU
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU UG FGFKECT±P CN TGEQPQEKOKGPVQ GP VGZVQU FG NQU RTKPEKRCNGU TCUIQU NKPIÒÃUVKEQU FG
NCU XCTKGFCFGU FG NGPIWC VTCVCFCU GP ENCUG
'XCNWCEKÉP
&GDGT± UWRGTCTUG WP GZCOGP GP GN SWG GN GUVWFKCPVG TGCNK\CT± NC FGUETKREKÉP FG RGSWGÇQU
HTCIOGPVQU FG NGPIWC KPINGUC
$KDNKQITCHÃC D±UKEC
%CFC RTQHGUQT KPFKECT± NC DKDNKQITCHÃC D±UKEC
.GEVWTCU D±UKECU TGEQOGPFCFCU
6QYCTFU C 8CTKGVKGU )TCOOCT QH 'PINKUJ $GTNKP 2GVGT .CPI
2NCVV , 2NCVV * 6JG 5QEKCN 5KIPKHKECPEG QH 5RGGEJ #OUVGTFCO 0QTVJ *QNNCPF
8KGTGEM 9 # $KDNKQITCRJ[ QH 9TKVKPIU QP 8CTKGVKGU QH 'PINKUJ #OUVGTFCO , $GPLCOKPU
&ÒTOÒNNGT 7TU #UKIPCVWTC
&GN TGNCVQ C NC PQXGNC GP NC HKEEKÉP COGTKECPC
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
'N QDLGVKXQ FG GUVC CUKIPCVWTC UGT± KPVTQFWEKT CN CNWOPQ CN GUVWFKQ FG NC KORQTVCPEKC FGN TGNCVQ
EQOQ I¾PGTQ GP GN FGUCTTQNNQ FG NCU NGVTCU PQTVGCOGTKECPCU KPECTFKP±PFQNQ GP NC VTCFKEKÉP NKVGTCTKC FG
NQU ''77 [ GUVCDNGEKGPFQ UWU EQPGZKQPGU EQP QVTQU I¾PGTQU NKOÃVTQHGU 'N TGNCVQ UGT± GUVWFKCFQ GP
UW GURGEKHKEKFCF CRQTVCPFQ GLGORNQU EQPETGVQU FG UWU OCPKHGUVCEKQPGU EQOQ HQTOC NKVGTCTKC DCUVCPVG
CWVÉPQOC 6CODK¾P UG RQPFT± GURGEKCN ¾PHCUKU GP GN CP±NKUKU FG NC TGNCEKÉP FGN TGNCVQ EQP NC PQXGNC
EGPVTCPFQ WPC RCTVG FGN EWTUQ GP GN GUVWFKQ FG NCU HQTOCU FG KPENWUKÉP G KPEQTRQTCEKÉP FGN TGNCVQ C NC
GUVTWEVWTC [ OWPFQ PQXGNÃUVKEQU
%QPVGPKFQ
+ 2CT±OGVTQU VGÉTKEQU RCTC NC FGHKPKEKÉP FGN I¾PGTQ FGN TGNCVQ %CTCEVGTK\CEKÉP [ RTQDNGO±VKEC
%QPGZKQPGU FGN TGNCVQ EQP QVTCU HQTOCU NKVGTCTKCU NC \QPC NKOÃVTQHG FG NC PQXGNC [ GN GPUC[Q PCTTCVKXQ
++ .C VTCFKEKÉP FGN TQOCPEG GP NC NKVGTCVWTC PQTVGCOGTKECPC [ UW KPHNWGPEKC GP GN FGUCTTQNNQ FGN TGNCVQ
'N TGNCVQ GP NC UGIWPFC OKVCF FGN :+: TGXKUVCU NKVGTCTKCU 4GGXCNWCEKÉP FGN TGNCVQ GP NC JKUVQTKC NKVGTCTKC
PQTVGCOGTKECPC #WVQTGUCU FGUVCECFQUCU
+++ 'N TGNCVQ [ UW KPENWUKÉP GP GN NKDTQ %QNGEEKQPGU FG TGNCVQU 4GNCVQ [ PQXGNC TGNCEKQPGU
+8 'N NGEVQT HTGPVG CN TGNCVQ [ C NC PQXGNC
%CT±EVGT FG NCU RT±EVKECU
'N EWTUQ EQORTGPFGT± WPC UGTKG FG UGUKQPGU RT±EVKECU SWG UG FGFKECT±P CN EQOGPVCTKQ FG TGNCVQU
UGNGEEKQPCFQU FGUFG GN RWPVQ FG XKUVC HQTOCN GUVKNÃUVKEQ VGO±VKEQ CUÃ EQOQ CN GUVWFKQ FG UWU
TGNCEKQPGU EQP NC PQXGNC
'XCNWCEKÉP
5GIÐP GN RTQHGUQTCFQ NQU O¾VQFQU FG GXCNWCEKÉP RQFT±P EQORTGPFGT FGUFG NC GNCDQTCEKÉP FG
VTCDCLQU [Q GZRQUKEKQPGU GP ENCUG JCUVC RTWGDCU [ GZ±OGPGU HKPCNGU SWG KPENW[CP GLGTEKEKQU
VGÉTKEQRT±EVKEQU
$KDNKQITCHÃC D±UKEC
5VQT[ CPF &KUEQWTUG+VJCEC %QTPGNN 72TGUU *CPUQP %NCTG GF 4GTGCFKPI VJG 5JQTV 5VQT[ 0; 5V /CTVKPIU 2TGUU .QJCHGT 5WUCP ,Q 'NN[P %NCTG[ 5JQTV 5VQT[ 6JGQT[ CV C %TQUUTQCFU $CVQP 4QWIG .QWKUKCPC 5VCVG
%JCVOCP 5G[OQWT
7PKX 2TGUU /CTVKP 9CNNCEG
4GEGPV 6JGQTKGU QH 0CTTCVKXG +VJCEC %QTPGNN 72TGUU #UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%KENQ
6¾EPKECU FG KPVGTRTGVCEKÉP NKVGTCTKC
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK C GUEQIGT HTGPVG C
XGT R±I Q
FG NC RQ¾VKEC KPINGUC
6GZVQU HWPFCOGPVCNGU
1DLGVKXQU
'N QDLGVKXQ FG GUVC CUKIPCVWTC GU KPVTQFWEKT CN CNWOPQ C CNIWPCU V¾EPKECU FG KPVGTRTGVCEKÉP [
CP±NKUKU FG VGZVQU NKVGTCTKQU VCPVQ GP RTQUC EQOQ GP XGTUQ 5G VTCVC FG RTQRQTEKQPCT CN CNWOPQ WPC UGTKG
FG KPUVTWOGPVQU CPCNÃVKEQU SWG NG RQUKDKNKVCT±P FGUFG GUVG OQOGPVQ UW GPEWGPVTQ ETÃVKEQ EQP NC
NKVGTCVWTC
%QPVGPKFQ
6TCU WPC KPVTQFWEEKÉP C NQ NKVGTCTKQ HTGPVG C NQ PQ NKVGTCTKQ FKXKFKTGOQU NC CUKIPCVWTC GP VTGU
RCTVGU KPVGTRTGVCEKÉP FG HKEEKÉP FG RQGUÃC [ FG FTCOC &GPVTQ FG ECFC I¾PGTQ GN RTQHGUQT HCEKNKVCT±
WPC OGVQFQNQIÃC CPCNÃVKEC DCUCFC RTKPEKRCNOGPVG GP GN CP±NKUKU FG NQU RGTUQPCLGU GN OWPFQ
GURCEKQVGORQTCN GN VGOC GN RWPVQ FG XKUVC NC GUVTWEVWTC PCTTCVKXC GN UKODQNKUOQ NQU TCUIQU
GUVKNÃUVKEQU GN WUQ FG TGEWTUQU NKVGTCTKQU GVE &GPVTQ FGN CP±NKUKU FG NC RQGUÃC UG GUVWFKCT± VCODK¾P NC
O¾VTKEC KPINGUC GN TKVOQ [ GN UQPKFQ RQPKGPFQ GURGEKCN ¾PHCUKU GP GN GUVWFKQ FGVCNNCFQ FG NCU HKIWTCU
TGVÉTKECU [ FG NQU OQFQU NKVGTCTKQU
%CT±EVGT FG NCU RT±EVKECU
%QPUKUVKT±P GP CRNKECT C NQU VGZVQU SWG RTQRQTEKQPG GN RTQHGUQT NCU V¾EPKECU SWG ¾UVG JC[C
GZRNKECFQ GP ENCUG 2CTC HKEEKÉP UG WVKNK\CT±P RTKOQTFKCNOGPVG TGNCVQU EQTVQU SWG RWGFGP CPCNK\CTUG GP
UW VQVCNKFCF FWTCPVG NC ENCUG FGLCPFQ NC NGEVWTC FG PQXGNCU RCTC QVTCU CUKIPCVWTCU 'P RQGUÃC UG XGT±P
RQGOCU VCPVQ FG VQFCU NCU HQTOCU HKLCU UQPGVQU DCNCFCU RQGOCU PCTTCVKXQU GVE CUÃ EQOQ FG XGTUQ
NKDTG (KPCNOGPVG EGPVTCTGOQU NC KPVGTRTGVCEKÉP FTCO±VKEC GP GN GUVWFKQ FGVCNNCFQ FG WPC QDTC SWG UK
GU RQUKDNG NQU CNWOPQU XGT±P DKGP GP XÃFGQ Q DKGP GP GN VGCVTQ 5GT±P NQU RTQRKQU GUVWFKCPVGU NQU SWG
NNGIWGP CN CWNC EQP UWU VGZVQU RTGXKCOGPVG NGÃFQU G KPVGTRTGVCFQU RCTC SWG CUÃ NC ENCUG UG EQPXKGTVC GP
WP HQTQ CDKGTVQ FG FKUEWUKÉP NKVGTCTKC
'XCNWCEKÉP
.QU O¾VQFQU FG GXCNWCEKÉP RQFT±P EQORTGPFGT FGUFG NC GNCDQTCEKÉP FG VTCDCLQU RT±EVKEQU [
GZRQUKEKQPGU GP ENCUG JCUVC WP GZCOGP CN VGTOKPCT GN EWCVTKOGUVTG SWG EQPUKUVKT± GP WPC RTWGDC
RT±EVKEC
$KDNKQITCHÃC D±UKEC
#P +PVTQFWEVKQP VQ .KVGTCVWTG
6JG #PCVQO[ QH 2QGVT[
9C[U QH 4GCFKPI
+PVGTRTGVKPI VJG 6GZV # %TKVKECN +PVTQFWEVKQP VQ VJG 6JGQT[ CPF 2TCEVKEG QH .KVGTCT[
+PVGTRTGVCVKQP
$CTPGV 5[NXCP GV CN
.QPFQP *CTRGT %QNNKPU $QWNVQP /CTLQTKG
.QPFQP 4QWVNGFIG /QPVIQOGT[ /CTVKP GV CN
.QPFQP 4QWVNGFIG 0GYVQP - /
.QPFQP *CTXGUVGT #UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%KENQ
6GQTÃC FG NC HKEEKÉP CPINQPQTVGCOGTKECPC
C 1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK
D 1RVCVKXC FG RTQHWPFK\CEKÉP 1VTCU 6KVWNCEKQPGU FG (KNQNQIÃC %KENQ KPFKUV
Q
1DLGVKXQU
+PVTQFWEKT CN CNWOPQ C NC CRQTVCEKÉP CPINQPQTVGCOGTKECPC GP GN ECORQ FG NC VGQTÃC FG NC HKEEKÉP
[ UW NGEVWTC ETÃVKEC
%QPVGPKFQ
'N EWTUQ EQORTGPFG GN GUVWFKQ FG NQU VGZVQU D±UKEQU UQDTG NC VGQTÃC FG NC PQXGNC GP NGPIWC
KPINGUC NC RTQRWGUVC RQUVGTKQT FG WPC RQ¾VKEC FG NC HKEEKÉP [ UWU CRNKECEKQPGU O±U TGEKGPVGU C NC NGEVWTC
FG QDTCU PCTTCVKXCU 'N EQPVCEVQ EQP NQU VGZVQU HWPFCOGPVCNGU FG NQU PQXGNKUVCUFGUFG 4KEJCTFUQP JCUVC
PWGUVTQU FÃCU JC FG RGTOKVKT GPVTGXGT NC HQTOCEKÉP [ CRNKECEKÉP OGVQFQNÉIKEC FG EQPEGRVQU FG RQ¾VKEC
PCTTCVKXC SWG JCP EQPVTKDWKFQ C CEGTECTPQU CN VGZVQ PCTTCVKXQ FG OCPGTC ECFC XG\ O±U KPPQXCFQTC
%CT±EVGT FG NCU RT±EVKECU
&CFQ GN ECT±EVGT VGÉTKEQ [ RT±EVKEQ FGN EWTUQ UG EQVGLCT±P VGZVQU RTKOCTKQU [ EN±UKEQU UQDTG GN
CTVG FG PQXGNCT 4KEJCTFUQP 5VGTPG 5EQVV 2QG *CYVJQTPG 5VGXGPUQP &KEMGPU ,COGU %QPTCF
9QQNH (QTUVGT GVEEQP GUVWFKQU VGÉTKEQU KPVTQFWEVQTGU FG NQU EQPEGRVQU [ V¾EPKECU CPCNÃVKECU [
FGUETKRVKXCU FG ,COGU (QTUVGT 5EJQTGT .WDDQEM $QQVJ %TCPG (T[G (TKGFOCP [ QVTQU[ CRNKECEKÉP
EQPETGVC FG GUQU EQPEGRVQU [ V¾EPKECU GP CNIWPC PQXGNC Q TGNCVQ CUÃ EQOQ UW KPEKFGPEKC [ FGUCTTQNNQ
GP NQU FGN CP±NKUKU ÐNVKOQ FGN VGZVQ PCTTCVKXQ
'XCNWCEKÉP
.QU O¾VQFQU FG GXCNWCEKÉP RQFT±P EQORTGPFGT FGUFG NC GNCDQTCEKÉP FG VTCDCLQU [Q
GZRQUKEKQPGU GP ENCUG JCUVC GZ±OGPGU SWG KPENW[CP RTWGDCU VGÉTKEQRT±EVKECU
$KDNKQITCHÃC D±UKEC
2TÉNQIQU G KPVTQFWEEKQPGU C NCU PQXGNCU FG NQU CWVQTGU C UGNGEEKQPCT RQT GN RTQHGUQT 6GZVQU
UGNGEEKQPCFQU FG VTCVCFQU GPUC[QU Q RTGHCEKQU
#NNQV /KTKCO
0GY ;QTM%QNWODNC 72
5VGXKEM 2JKNNKR
.QPFQP /CEOKNNCP
.WDDQEM 2GTE[
0GY ;QTM8KMKPI (QTUVGT '/
0GY ;QTM *CTEQWTV $TCEG ,QXCPQEKEJ
,COGU *
0;QTM $KDNKQITCHÃC UGEWPFCTKC [ ETÃVKEC
$QQVJ 8CTPG %
7 QH %JKECIQ 2TGUU *CNRGTKP ,QJP
172TGUU
&CXKU 4/WTTC[
2TGPVKEG *CNN
*CTXG[ 9,
0GY ;QTM+VJCEC
.QFIG &CXKF
0GY ;QTM .GKVEJ6JQOCU
2GPP 5VCVG 7PKX
*CTVKP 9CNNCEG
%QTPGNN 72TGUU $CN /
5EJQNGU4QDGTV CPF 4QDGTV -GNNQI
172
5EJQNGU4QDGTV 5VTWEVWTCNKUO KP .KVGTCVWTG#P +PVTQFWEVNQP 0GY *CXGP;CNG
6QQNCP/KEJGN ,
.QPFQP 4QWVNGFIG 4KOOQP-GPPCP 5JNQOKVJ
/GVJWGP N
5VCP\GN(-
%CODTKFIG 72
) 2TKPEG
/QWVQP 5G TGEQOKGPFC CUKOKUOQ EQPVTCUVCT GUVWFKQU FG %WNNGT 6QFQTQX $CTVJGU %JCVOCP )TGKOCU
$TGOQPF ) )GPGVVG [ QVTQU KORQTVCPVGU FG ECT±EVGT HQTOCNKUVC GUVTWEVWTCNKUVC UGOKÉVKEQ JKUVQTKEKUVC
[ FG CP±NKUKU FGN FKUEWTUQ
0QXGNKUVU QP VJG 0QXGN
6JG 6JGQT[ QH VJG 0QXGN
6JG %TCHV QH (KEVKQP
#URGEVU QH VJG 0QXGN
6JG #TV QH VJG 0QXGN
6JG 4JGVQTKE QH (KEVKQP
6JG 6JGQT[ QH VJG 0QXGN 0GY 'UUC[U
6JG 0QXGN 0GY 'UUC[U KP %TKVKEKUO
%JCTCEVGT CPF VJG 0QXGN
6JG .CPIWCIG QH (KEVKQP
9JCV 5VQTKGU #TG
4GEGPV 6JGQTKGU QH 0CTTCVKXG
0CTTCVQNQI[ +PVTQFWEVKQP VQ VJG 6JGQT[ QH 0CTTCVKXG
6JG 0CVWTG QH 0CTTCVKXG
0CTTCVKXG # %TKVKECN .KPIWKUVKE +PVTQFWEVNQP
0CTTCVKXG (KEVKQPU %QPVGORQTCT[ 2QGVKEU
# 6JGQT[ QH 0CTTCVKXG
0CTTCVQNQI[ VJG (QTO CPF (WPEVKQPKPI QH 0CTTCVKXG
#UKIPCVWTC
6GZVQU HWPFCOGPVCNGU FG NC RQ¾VKEC KPINGUC
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK C GUEQIGT HTGPVG C
XGT R±I %KENQ
KPVGTRTGVCEKÉP NKVGTCTKC
6¾EPKECU FG
Q
1DLGVKXQU
3WG NQU CNWOPQU UG HCOKNKCTKEGP EQP NQU VGZVQU O±U TGRTGUGPVCVKXQU FG RQ¾VKEC FG NC NKVGTCVWTC
KPINGUC SWG UGRCP TGEQPQEGT GN XCNQT FG ¾UVQU EQOQ IWÃC FG NC KPVGTRTGVCEKÉP [ EQOQ GZRNKECEKÉP FG
NQU TCUIQU RTQRKQU FG NC RQGUÃC FG ECFC RGTÃQFQ SWG EQPQ\ECP NCU FKHGTGPVGU RGTKQFK\CEKQPGU FG NC
JKUVQTKC FG NC RQGUÃC KPINGUC C VTCX¾U FG NQU VGZVQU VGÉTKEQU O±U UKIPKHKECVKXQU GP SWG UG JC[CP TGEQIKFQ
NCU ECTCEVGTÃUVKECU FG NC GXQNWEKÉP FG NC RQGUÃC KPINGUC
%QPVGPKFQ
'N EWTUQ EQPUKUVG GP WPC QTFGPCEKÉP ETQPQNÉIKEC [ UGNGEEKÉP FG NQU VGZVQU O±U UKIPKHKECVKXQU FG
NCU RQ¾VKECU FG NC NKVGTCVWTC KPINGUC 5G KPENWKT±P RQ¾VKECU FG ECT±EVGT VGÉTKEQ FQEVTKPCN RTGHGTGPVGOGPVG
GUETKVCU RQT RQGVCU GP RTÉNQIQU GPUC[QU GVE [ VCODK¾P UG KPENWKT±P RQ¾VKECU GP XGTUQ GU FGEKT
RQGOCU GP NQU SWG UG TGHNGZKQPC UQDTG NC PCVWTCNG\C FG NC RTQRKC RQGUÃC
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU FG GUVC CUKIPCVWTC VKGPGP WPC FQDNG PCVWTCNG\C RQT WP NCFQ EQPUKUVKT±P GP NC
NGEVWTC EQOGPVCFC FG WP TGRGTVQTKQ FG VGZVQU TGRTGUGPVCVKXQ FG NCU FKHGTGPVGU ¾RQECU [ OQFQU RQ¾VKEQU
SWG UG NNGXCT± ECDQ GP GN CWNC
2GTQ RQT QVTQ NCFQ WPC RCTVG OW[ UKIPKHKECVKXC FG GUVCU RT±EVKECU EQPUKUVKT± GP NC NGEVWTC FG
FKHGTGPVGU RQ¾VKECU Q CPVQNQIÃCU FG RQ¾VKECU SWG ECFC CNWOPQ JCT± FG HQTOC KPFKXKFWCN HWGTC FG NCU
JQTCU NGEVKXCU
'XCNWCEKÉP
.C GXCNWCEKÉP UG EWORNKT± OGFKCPVG GN EQOGPVCTKQ RQT GUETKVQ FG VGZVQU FG RQ¾VKEC SWG CWPSWG
PQ JC[CP UGTXKFQ FKTGEVCOGPVG FG OQFGNQU FG GUVWFKQ TGHNGLGP CNIWPQ Q CNIWPQU FG NQU CURGEVQU SWG
UGCP TGRTGUGPVCVKXQU FG NCU RQ¾VKECU SWG UÃ UG JC[CP EQOGPVCFQ GP NCU RT±EVKECU Q SWG UG JC[CP FGUETKVQ
GP NC RCTVG FG GZRQUKEKÉP VGÉTKEC
$KDNKQITCHÃC D±UKEC
6JG (CDGT $QQM QH 2QGVU QP 2QGVT[
(9 $CVGUQP 'PINKUJ 2QGVT[ # %TKVKECN +PVTQFWEVKQP
&QWINCU $WUJ 'PINKUJ 2QGVT[ 6JG /CKP %WTTGPVU HTQO %JCWEGT VQ VJG 2TGUGPV
65 'NKQV 6JG 7UG QH 2QGVT[ CPF VJG 7UG QH %TKVKEKUO
'/9 6KNN[CTF 6JG 'PINKUJ 'RKE CPF KVU $CEMITQWPF
/KTKCO #NNQVV
#UKIPCVWTC
6TCFWEEKÉP FG VGZVQU KPINGUGU
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
C %QPQEGT NQU EQPEGRVQU HWPFCOGPVCNGU FG VGQTÃC FG NC VTCFWEEKÉP
D 6TCFWEKT EQP EQTTGEEKÉP VGZVQU KPINGUGU FG FKHKEWNVCF OGFKC C ECUVGNNCPQ EQTTGEVQ [ CFGEWCFQ
%QPVGPKFQU
'N EWTUQ EQPUKUVKT± GP NC RTGUGPVCEKÉP FG NQU EQPEGRVQU HWPFCOGPVCNGU FG VGQTÃC FG NC VTCFWEEKÉP
SWG RQUGGP WPC CRNKECDKNKFCF RT±EVKEC FKTGEVC GU FGEKT GN EWTUQ PQ UG FGFKECT± C NC GPUGÇCP\C FG NQU
CURGEVQU VGÉTKEQU FG NC VTCFWEEKÉP UKPQ SWG ¾UVQU UG GZRNKECT±P GP VCPVQ GP EWCPVQ RGTOKVCP TGCNK\CT FG
HQTOC EQPUEKGPVG DWGPCU VTCFWEEKQPGU FGN KPIN¾U CN GURCÇQN 5G OQUVTCT±P NCU V¾EPEKCU VTCFWEVQNÉIKECU
HWPFCOGPVCNGU JCEKGPFQ GURGEKCN JKPECRK¾ GP NC EQPUGEWEKÉP FG WP ECUVGNNCPQ GSWKXCNGPVG GP EWCPVQ C
GUVKNQ TGIKUVTQ GVE CN QTKIKPCN KPIN¾U 5G TGCNK\CT±P GLGTEKEKQU FG VTCFWEEKÉP SWG UG EQOGPVCT±P GP ENCUG
FWTCPVG NCU JQTCU FGFKECFCU C RT±EVKECU
%CT±EVGT FG NCU RT±EVKECU
5G FGFKECT± WP OÃPKOQ FG JQTCU FGN EWTUQ ÃPVGITCOGPVG C RT±EVKECU EQPUKUVGPVGU GP NC
VTCFWEEKÉP FG VGZVQU FG FKXGTUQU VKRQU NKVGTCTKQU [ PQ NKVGTCTKQU FG FKHKEWNVCF OGFKC .QU CNWOPQU
FGDGT±P TGCNK\CT NCU VTCFWEEKQPGU SWG UG EQOGPVCT±P [ EQTTGIKT±P GP ENCUG 5G RTGUVCT± GURGEKCN CVGPEKÉP
PQ UÉNQ C NC EQORTGPUKÉP CFGEWCFC FG NQU VGZVQU UKPQ C UW TGHNGLQ GP WP GURCÇQN EQTTGEVQ [ CFGEWCFQ
CN QTKIKPCN FG CEWGTFQ EQP GN VKRQ FG VTCFWEEKÉP SWG JC[C FG TGCNK\CTUG GP ECFC ECUQ VTCPUHGTGPEKC
PCVWTCNK\CEKÉP VTCFWEEKÉP UGO±PVKEC GVE
6QFQU NQU CNWOPQU FGDGT±P TGCNK\CT C NQ NCTIQ FGN EWTUQ NC VTCFWEEKÉP FG 61&15 NQU VGZVQU SWG
UG RTQRQTEKQPCT±P HQVQEQRKCFQU
'XCNWCEKÉP
5G TGCNK\CT± WP ÐPKEQ GZCOGP HKCPN SWG EQPUVCT± FG FQU RCTVGU C RTGIWPVCU VGÉTKECU UQDTG
VGOCU VTCVCFQU GP ENCUG TGHGTGPVGU C VGQTÃC FG NC VTCFWEEKÉP D VTCFWEEKÉP CN GURCÇQN FG FQU VGZVQU
KPINGUGU WPQ EQP FKEEKQPCTKQ [ QVTQ UKP ¾N
.QU CNWOPQU RQFT±P TGCNK\CT CFGO±U EQOQ VTCDCLQ FG EWTUQ WPC VTCFWEEKÉP O±U GZVGPUC EQP
EQOGPVCTKQ VGÉTKEQ
'P NC ECNKHKECEKÉP HKPCN UG XCNQTCT±P NCU VTCFWEEKQPGU [ NQU VTCDCLQU FG EWTUQ CFGO±U FGN
GZCOGP
$KDNKQITCHÃC D±UKEC
0GYOCTM 2 /CPWCN FG VTCFWEEKÉP /CFTKF %±VGFTC
2QFT± HCEKNKVCTUG C RTKPEKRKQ FG EWTUQ WP RCSWGVG FG HQVQEQRKCU EQP GLGTEKEKQU FG VTCFWEEKÉP [ NGEVWTCU
VGÉTKECU TGEQOGPFCFCU
2TQITCOCU
EQTTGURQPFKGPVGU
CNCUCUKIPCVWTCU
FG5GIWPFQ%KENQ
6TQPECNGU[QDNK
ICVQTKCU
#UKIPCVWTC
%NCXGU JKUVÉTKECU FG NC EWNVWTC [ UQEKGFCF ''77
%T¾FKVQU
%CT±EVGT
6TQPECN
%KENQ

%WTUQ

1DLGVKXQU
2TQRQTEKQPCT CN CNWOPQ EQPQEKOKGPVQU D±UKEQU UQDTG NQU JKVQU O±U TGNGXCPVGU FG NC JKUVQTKC
PQTVGCOGTKECPC [ UWU TGRGTEWUKQPGU GP NC XKFC EWNVWTCN [ UQEKCN
%QPVGPKFQU
5G GUVWFKCT±P CSWGNNQU CEQPVGEKOKGPVQU JKUVÉTKEQU SWG JCP VGPKFQ WPC KPHNWGPEKC FGVGTOKPCPVG
GP NC UQEKGFCF [ EWNVWTC PQTVGCOGTKECPCU EQOQ RQT GLGORNQ %QNQPK\CEKÉP G KPOKITCEKÉP NC
4GXQNWEKÉP GUENCXKVWF [ EQPUGEWGPEKCU GN RTQEGUQ FG KPFWUVTKCNK\CEKÉP [ NC HQTOCEKÉP FGN ECRKVCNKUOQ
COGTKECPQ KFGQNQIÃC UQEKGFCF [ RQFGT RQNÃVKEQ NC IWGTTC HTÃC [ UWU EQPUGEWGPEKCU RQDTG\C [
TCEKUOQ
%CT±EVGT FG NCU RT±EVKECU
.QU EQPVGPKFQU VGÉTKEQU FGN EWTUQ UG EQORNGVCT±P EQP WPC UGNGEEKÉP FG VGZVQU TGRTGUGPVCVKXQU
FG NQU CEQPVGEKOKGPVQU JKUVÉTKEQU [ EWNVWTCNGU O±U FGUVCECFQU 'UVG OCVGTKCN PQ UÉNQ UGTXKT± RCTC CEGTECT
CN CNWOPQ C NCU HWGPVGU UKPQ VCODK¾P RCTC HQOGPVCT GN FGDCVG GP ENCUG
'XCNWCEKÉP
.C GXCNWCEKÉP EQPVKPWC FGN CNWOPQ VGPFT± GP EWGPVC NC RCTVKEKRCEKÉP GP NQU FGDCVGU NC
GZRQUKEKÉP FG VGOCU Q NC GNCDQTCEKÉP FG VTCDCLQU
.C GXCNWCEKÉP HKPCN EQPUVCT± FG WPC RTWGDC VGÉTKEQRT±EVKEC UQDTG NQU EQPVGPKFQU FGN EWTUQ
$KDNKQITCHÃC
6JG 2GPIWKP *KUVQT[ QH VJG 7PKVGF 5VCVGU QH #OGTKEC .QPIOCP )TQWR
$TQOJGCF 2 .KHG KP /QFGTP #OGTKEC .QPFQP .QPIOCP
/CTM & CPF , 1CMNCPF #OGTKECP %KXKNK\CVKQP 0GY ;QTM 4QWVNGFIG
/KVEJGNN , CPF 4 /CKFOGPV 6JG 7PKVGF 5VCVGU KP VJG 6YGPVKGVJ %GPVWT[ %WNVWTG 5GXGPQCMU
$TQICP , *QNFGT CPF 5VCWIJVQP 6JG 1RGP 7PKXGTUKV[
0[G & %QPVGORQTCT[ #OGTKECP 5QEKGV[ %QRGPJCIWGP #ECFGOKE 2TGUU
#UKIPCVWTC
%NCXGU FGN RGPUCOKGPVQ PQTVGCOGTKECPQ
%T¾FKVQU
%CT±EVGT
6TQPECN
%KENQ

%WTUQ

1DLGVKXQU
%QPUKFGTCT CURGEVQU FGUVCECFQU FG NC OGPVCNKFCF PQTVGCOGTKECPC C VTCX¾U FGN CP±NKUKU FG CNIWPCU FG UWU
QDTCU NKVGTCTKCU O±U TGRTGUGPVCVKXCU EQP GUVG RWPVQ FG RCTVKFC JCEGT WPC DTGXG KPVTQFWEEKÉP C NC
JKUVQTKC IGQITCHÃC EWNVWTC [ UQEKQNQIÃC FG NQU 'UVCFQU 7PKFQU
%QPVGPKFQU
'N ECNXKPKUOQ FG NC GOKITCEKÉP RWTKVCPC [ UW XKIGPEKC GP NC UQEKGFCF PQTVGCOGTKECPC EQPVGORQT±PGC
.C VGPUKÉP GPVTG NCU GZKIGPEKCU UQEKCNGU G KPFKXKFWCNGU EQOQ EQPHNKEVQ D±UKEQ FG NC EQOWPKFCF
COGTKECPC 5W TGHNGLQ GP NC NKVGTCVWTC [ GN EKPG
*KUVQTKC FG NCU TGNCEKQPGU TCEKCNGU C VTCX¾U FG UWU EQPVTCFKEEKQPGU GUENCXKVWF [ GN KFGCN NKDGTVCTKQ
FKUETKOKPCEKÉP TCEKCN G KIWCNFCF FG QRQTVWPKFCFGU
.C KPOKITCEKÉP TGRCUQ JKUVÉTKEQ FG NQU RTKPEKRCNGU OQXKOKGPVQU OKITCVQTKQU JCUVC NC CEVWCN GOKITCEKÉP
JKURCPC [ CUK±VKEC %TKUKU FG KFGPVKFCF EWNVWTCN GN FGDCVG OWNVKEWNVWTCN
.C HTQPVGTC EQOQ OKVQ NC VKGTTC FG QRQTVWPKFCFGU GN UWGÇQ COGTKECPQ
'N &GUVKPQ /CPKHKGUVQ GN OGUKCPKUOQ [ GN NKFGTC\IQ OWPFKCN FG 'UVCFQU 7PKFQU
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P GP C RTGUGPVCEKQPGU KPFKXKFWCNGU Q GP ITWRQ GP NQU SWG UG GZRQPFT±P CUWPVQU
TGNCVKXQU C NQU EQPVGPKFQU FGN EWTUQ D WP VTCDCLQ GP ITWRQ UQDTG CNIÐP VGOC C FGVGTOKPCT RQT GN
RTQHGUQT E WP GZCOGP HKPCN
$KDNKQITCHÃC
/CT[ $GVJ 0QTVQP GT CN *QWIJVQP /KHHNKP GFU # RGQRNG CPF C 0CVKQP # *KUVQT[ QH VJG 7PKVGF
5VCVGU $QUVQP 'XCPU 5CTC $QTP HQT .KDGTV[ # *KUVQT[ QH 9QOGP KP #OGTKEC (TGG 2TGUU 0GY ;QTM N
6CMCMK 4QPCNF # FKHHGTGPV /KTTQT # *KUVQT[ QH /WNVKEWNVWTCN #OGTKEC .KVVNG $TQYP %Q $QUVQP
.GEVWTCU
.C NGVTC 'UECTNCVC
%NGOGPU 5COWGN #FXGPVWTGU QH *WEMNGDGTT[ (KPP
%JQRKP -CVG 6JG #YCMGPKPI
&TGKUGT 6JGQFQTG 5KUVGT %CTTKG
$GNNQY 5CWN # 6JGHV
*CYVJQTPG 0CVJCPKGN
#UKIPCVWTC
)TCO±VKEC KPINGUC FKUEWTUQ [ VGZVQ
%T¾FKVQU
%CT±EVGT
6TQPECN
%KENQ

#UKIPCVWTC RTGNCVKXC EQP TGURGEVQ C
2TCIO±VKEC FGN KPIN¾U XGT R±I 1DLGVKXQU
(COKNKCTK\CT CN CNWOPQ EQP NQU EQPEGRVQU HWPFCOGPVCNGU [ NQU VGOCU FG OC[QT TGNGXCPEKC GP NQU
GUVWFKQU FGN FKUEWTUQ [ UWU EQPGZKQPGU EQP NC ITCO±VKEC KPINGUC
'ZCOKPCT G KPVGTRTGVCT NCU TGNCEKQPGU HWPEKQPCNGU SWG RWGFGP GZKUVKT GPVTG NC GUVTWEVWTCEKÉP [
FGUCTTQNNQ FGN VGZVQ [ NQU TGEWTUQU ITCOCVKECNGU FG NC NGPIWC KPINGUC EQP NCU QREKQPGU SWG ¾UVCU
EQPNNGXCP EQOQ TGCNK\CEKÉP FG HKPGU EQOWPKECVKXQU FGN JCDNCPVGGUETKVQT FGPVTQ FG WP EQPVGZVQ [ I¾PGTQ
FGVGTOKPCFQU
%QPVGPKFQU
'N EQPEGRVQ FG VGZVQ EQOQ WPKFCF EQOWPKECVKXC [ UW TGNCEKÉP EQP NC QTCEKÉP EQOQ WPKFCF ITCOCVKECN
%QJGUKÉP [ EQJGTGPEKC VGZVWCNGU
'UVTWEVWTCEKÉP [ RTGUGPVCEKÉP FG NC KPHQTOCEKÉP GP GN VGZVQ
%CT±EVGT FG NCU RT±EVKECU
2CTC ECFC VGOC FGN RTQITCOC UG GNCDQTCT± WP EWGUVKQPCTKQ FG RWPVQU D±UKEQU C TGEQTFCT RQT GN
GUVWFKCPVG SWG UG EQTTGIKT± GP ENCUG FGURW¾U FG NCU GZRNKECEKQPGU VGÉTKECU +IWCNOGPVG UG QTICPK\CT±P
ITWRQU FG VTCDCLQ O±ZKOQ CNWOPQU GPECTICFQU FG TGCNK\CT TGEQRKNCEKÉP [ CP±NKUKU VGZVWCNGU SWG
GLGORNKHKSWGP NQU EQPEGRVQU D±UKEQU GUVWFKCFQU 'UVQU GLGTEKEKQU UG RTGUGPVCT±P GP ENCUG RCTC UW
FKUEWUKÉP
'XCNWCEKÉP
5G GXCNWCT± NC ECRCEKFCF FGN CNWOPQ FG C TGUWOKT [ EQOGPVCT FG HQTOC ETÃVKEC NQU OQFGNQU [
VGQTÃCU CRNKECFQU C NQ NCTIQ FGN EWTUQD KFGPVKHKECT CPCNK\CT [ EQOGPVCT RTGHGTGPVGOGPVG VGZVQU GPVGTQU
GP EWCPVQ C UW I¾PGTQ VKRQ EQPHKIWTCEKÉP EQPVGZVWCN [ GUVTCVGIKCU NKPIÒÃUVKECU WVKNK\CFCU
$KDNKQITCHÃC D±UKEC
+PVTQFWEEKÉP C NC NKPIÒÃUVKEC FGN VGZVQ /CFTKF 'URCUC %CNRG
%QQM ) &KUEQWTUG 1ZHQTF 7PKXGTUKV[ 2TGUU
&QYPKPI # CPF 2 .QEMG # 7PKXGTUKV[ %QWTUG KP 'PINKUJ )TCOOCT .QPFQP 2TGPVKEG*CNN
*CNNKFC[ /#- CPF 4 *CUCP .CPIWCIG %QPVGZV CPF 6GZV 172
/CPP 9% CPF 5 6JQORUQP 'FU &KUEQWTUG &GUETKRVKQP #OUVGTFCO ,QJP $GPLCOKPU
/CTVKP , 'PINKUJ 6GZV 5[UVGO CPF 5VTWEVWTG #OUVGTFCO ,QJP $GPLCOKPU
4GPMGOC , &KUEQWTUG 5VWFKGU CP +PVTQFWEVQT[ 6GZVDQQM #OUVGTFCO ,QJP $GPLCOKPU
8CP &KLM 6 *CPFDQQM QH &KUEQWTUG #PCN[UKU .QPFQP #ECFGOKE 2TGUU
$GTP±TFG\ '
#UKIPCVWTC
)TCO±VKEC KPINGUC UKPVCZKU [ UGO±PVKEC QTCEKQPCN
%T¾FKVQU
%CT±EVGT
6TQPECN
%KENQ

%WTUQ

1DLGVKXQU
1HTGEGT CN CNWOPQ WPC DCUG VGÉTKEC [ RT±EVKEC RCTC GN CP±NKUKU GP RTQHWPFKFCF FG NCU
EQPHKIWTCEKQPGU UKPV±EVKECU [ UGO±PVKECU FG NC QTCEKÉP
%QPVGPKFQ
&GUETKREKÉP [ CP±NKUKU UKPV±EVKEQ FG NC QTCEKÉP #P±NKUKU UGO±PVKEQ FG NC QTCEKÉP UKUVGOC FG
VTCPUKVKXKFCF NC PGICEKÉP #P±NKUKU UKPV±EVKEQ [ UGO±PVKEQ FG NQU ITWRQU PQOKPCN [ XGTDCN
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P GP EQOGPVCT [ CPCNK\CT GN OC[QT PÐOGTQ RQUKDNG FG QTCEKQPGU [ VGZVQU
KNWUVTCVKXQU FG NQU CURGEVQU VGÉTKEQU GZRNKECFQU GP ENCUG
'XCNWCEKÉP
5G GXCNWCT± NC ECRCEKFCF FGN CNWOPQ FG C TGUWOKT [ EQOGPVCT NQU EQPEGRVQU VGÉTKEQU
GUVWFKCFQU [ D CPCNK\CT QTCEKQPGU FGUFG GN RWPVQ FG XKUVC UKPV±EVKEQ [ UGO±PVKEQ
$KDNKQITCHÃC D±UKEC
'PINKUJ 5[PVCEVKE 5VTWEVWTGU 1ZHQTF 2GTICOQP
&QYPKPI # CPF .QEMG 2 # 7PKXGTUKV[ %QWTUG KP 'PINKUJ )TCOOCT %JCRVGTU
)KXÉP 6 'PINKUJ )TCOOCT # (WPEVKQPDCUGF +PVTQFWEVKQP 8QN #OUVGTFCO
#CTVU ( #CTVU , $GPLCOKPU
,QJP
#P +PVTQFWEVKQP VQ (WPEVKQPCN )TCOOCT .QPFQP #TPQNF
*WFFNGUVQP 4 +PVTQFWEVKQP VQ VJG )TCOOCT QH 'PINKUJ %CODTKFIG %72
5JQRGP GF .CPIWCIG 6[RQNQI[ CPF U[PVCEVKE FGUETKRVKQP 8QN + %72 %JCRVGTU CPF *CNNKFC[ /#- #UKIPCVWTC
.KVGTCVWTC PQTVGCOGTKECPC 2GTÃQFQ HQTOCVKXQ JCUVC %T¾FKVQU
%CT±EVGT
6TQPECN
%KENQ

%WTUQ

#UKIPCVWTC RTGNCVKXC EQP TGURGEVQ C
.KVGTCVWTC PQTVGCOGTKECPC XGT R±I 1DLGVKXQU
(COKNKCTK\CT CN GUVWFKCPVG EQP NCU HQTOCU NKVGTCTKCU O±U KORQTVCPVGU FGUFG NQU EQOKGP\QU FG NC
NKVGTCVWTC PQTVGCOGTKECPC JCUVC GN #OGTKECP 4GPCKUUCPEG
%QPVGPKFQ
.C ¾RQEC RWTKVCPC EQP GURGEKCN CVGPEKÉP C 9KNNKCO $TCFHQTF #PPG $TCFUVTGGV 'FYCTF 6C[NQT
%QVVQ /CVJGT ,QPCVJCP 'FYCTFU V 2JKNKU 9JGCVNG[
.C ¾RQEC FG NC KNWUVTCEKÉP EQP GURGEKCN CVGPEKÉP C $GPLCOKP (TCPMNKP 6JQOCU 2CKPG 6JQOCU
,GHHGTUQP 2JKNKR (TGPGCW /KEJGN%JKNNCWOG ,GCP FG %TGXGEQGWT
.QU EQOKGP\QU FGN 4QOCPVKEKUOQ 0QTVGCOGTKECPQ EQP GURGEKCN CVGPEKÉP C %JCTNGU $TQEMFGP
$TQYP 9CUJKPIVQP +TXKPI ,CPGU (GPKOQTG %QQRGT 9KNNKCO %WNNGP $T[CPV [ 'FICT #NNCP 2QG
2T±EVKECU
.QU CNWOPQU VGPFT±P NC QDNKICEKÉP FG GZRQPGT GP ENCUG RCTVG FG CNIÐP VGOC SWG GN RTQHGUQT
RTQRQPFT± EQP CPVGNCEKÉP
'XCNWCEKÉP
5G VGPFT± GP EWGPVC UQDTG VQFQ GN TGUWNVCFQ FGN GZCOGP HKPCN CWPSWG VCODK¾P UG XCNQTCT± NCU
GZRQUKEKQPGU GP ENCUG
$KDNKQITCHÃC D±UKEC
#OGTKECP .KVGTCVWTG $CTTQPU 'FWECVKQPCN 5GTKGU 0GY ;QTM
4QDGTV 5RKNNGT GF .KVGTCT[ *KUVQT[ QH VJG 75#
.C %QNWODKC *KUVQT[ QH #OGTKECP .KVGTCVWTG VTCFWEKFC [ GFKVCFC RQT %±VGFTC
&CTTGN #DGN
'N RTQHGUQT RTQRQTEKQPCT± WPC DKDNKQITCHÃC O±U GURGEÃHKEC GN RTKOGT FÃC FG ENCUG
#UKIPCVWTC
.KVGTCVWTC PQTVGCOGTKECPC %T¾FKVQU
%CT±EVGT
6TQPECN
%KENQ

%WTUQ

#UKIPCVWTC RTGNCVKXC EQP TGURGEVQ C
.KVGTCVWTC PQTVGCOGTKECPC UKINQ :: XGT R±I 1DLGVKXQU
1HTGEGT WP RCPQTCOC NQ O±U EQORNGVQ RQUKDNG FG NCU QDTCU O±U KORQTVCPVGU FG NC NKVGTCVWTC
PQTVGCOGTKECPC FGUFG GN #OGTKECP 4GPCKUUCPEG JCUVC GN 0CVWTCNKUOQ
%QPVGPKFQ
#OGTKECP 4GPCKUUCPEG EQP GURGEKCN CVGPEKÉP C *CYVJQTPG /GNXKNNG 9CNV 9JKVOCP [
6JQTGCW
.C PQXGNC TGCNKUVC PQTVGCOGTKECPC EQP GURGEKCN CVGPEKÉP C /CTM 6YCKP 9KNNKCO &GCP *QYGNNU
[ *GPT[ ,COGU
.C PQXGNC PCVWTCNKUVC EQP GURGEKCN CVGPEKÉP C *CONKP )CTNCPF 5VGRJGP %TCPG (TCPM 0QTTKU
[ ,CEM .QPFQP
'UVWFKQ GURGEKCN FG NC QDTC RQ¾VKEC FG 'OKN[ &KEMKPUQP
2T±EVKECU
.QU CNWOPQU VGPFT±P NC QDNKICEKÉP FG GZRQPGT GP ENCUG RCTVG FG CNIÐP VGOC SWG GN RTQHGUQT
RTQRQPFT± EQP CPVGNCEKÉP
'XCNWCEKÉP
5G VGPFT± GP EWGPVC UQDTG VQFQ GN TGUWNVCFQ FGN GZCOGP HKPCN CWPSWG VCODK¾P UG XCNQTCT±P NCU
GZRQUKEKQPGU GP ENCUG
$KDNKQITCHÃC D±UKEC
#OGTKECP .KVGTCVWTG $CTTQPU 'FWECVKQPCN 5GTKGU 0GY ;QTM
(1 /CVJKGUGP #OGTKECP 4GPCKUUCPEG
.C %QNWODKC *KUVQT[ QH #OGTKECP .KVGTCVWTG 'FKEKÉP FG %±VGFTC
&CTTGN #DGN
#UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%KENQ
%WTUQ
/CPKHGUVCEKQPGU KPUVKVWEKQPCNGU FG NC EWNVWTC KPINGUC
6TQPECN


1DLGVKXQU
'UVC CUKIPCVWTC VKGPG GN HKP FG RTQRQTEKQPCT CN CNWOPQ
C NC QRQTVWPKFCF FG HCOKNKCTK\CTUG EQP
NQU CURGEVQU IGQIT±HKEQU JKUVÉTKEQU CTVÃUVKEQU [ EWNVWTCNGU FG NQU RCÃUGU FG JCDNC KPINGUC VTC\CPFQ
VCODK¾P GN FGUCTTQNNQ JKUVÉTKEQ FG NCU KPUVKVWEKQPGU O±U KORQTVCPVGU FG OCPGTC SWG UGRC GXCNWCT NC
CRQTVCEKÉP G KPHNWGPEKC FGN 4GKPQ 7PKFQ GP GN OCTEQ EQPVGORQT±PGQ [ GUVCDNGEGT WP OCTEQ IGPGTCN GP
GN SWG KPVGITCT GUVWFKQU RQUVGTKQTGU
%QPVGPKFQU
5G VTCVCT±P GPVTG QVTQU NQU UKIWKGPVGU VGOCU
+PVTQFWEVKQP 6JG 7PKVGF -KPIFQO 2J[UKECN HGCVWTGU 6QRQITCRJ[ 4GIKQPU %NKOCVG 6JG
RGQRNG 0CVKQPCN +FGPVKVKGU +OOKITCVKQP CPF RQRWNCVKQP OQXGOGPVU KP VJG VJ EGPVWT[ 6JG %KV[
6JG $TKVKUJ 2QNKVKECN 5[UVGO .QECN )QXGTPOGPV +PVGTPCVKQPCN TGNCVKQPU (QTGKIP RQNKE[ 6JG
'WTQRGCP 7PKQP 'KTG CPF 0QTVJGTP +TGNCPF 6JG %QOOQPYGCNVJ 6JG .GICN 5[UVGO 'EQPQOKE CPF +PFWUVTKCN +PUVKVWVKQPU 'ORNQ[OGPV (KPCPEKCN +PUVKVWVKQPU 6TCPURQTV CPF %QOOWPKEC
VKQPU 9GNHCTG 5QEKCN 5GEWTKV[ *GCNVJ CPF *QWUKPI 6JG $TKVKUJ 5[UVGO QH 'FWECVKQP 6JG
/GFKC 4GNKIKQWU +PUVKVWVKQPU .GKUWTG 5RQTVU CPF %WNVWTCN .KHG
/GVQFQNQIÃC
.C CUKIPCVWTC UG FGUFQDNCT± GP NQU VGOCU CTTKDC OGPEKQPCFQU SWG RQT UW GZVGPUKÉP [ CNECPEG
EQPUVCT±P FG WPC RTKOGTC GZRQUKEKÉP VGÉTKEC [ FG WPC RCTVG RT±EVKEC XKUKQPCFQ FG FQEWOGPVCNGU
CWFKEKÉP FG EKPVCU RTQ[GEEKÉP FG FKCRQUKVKXCU GVE
'XCNWCEKÉP
.QU O¾VQFQU FG GXCNWCEKÉP RQFT±P EQORTGPFGT FGUFG NC GNCDQTCEKÉP FG VTCDCLQU [Q
GZRQUKEKQPGU GP ENCUG JCUVC GZ±OGPGU FQPFG GN CNWOPQ GZRQPFT± NQU EQPQEKOKGPVQU VGÉTKEQU CFSWKTKFQU
$KDNKQITCHÃC D±UKEC
.KHG KP /QFGTP $TKVCKP .QPIOCP # &KEVKQPCT[ QH $TKVKUJ +PUVKVWVKQPU .QPFQP 4QWVNGFIG $TKVKUJ %KXKNK\CVKQP .QPFQP 4QWVNGFIG $KDNKQITCHÃC EQORNGOGPVCTKC
#DGTETQODKG 0 %QPVGORQTCT[ $TKVKUJ 5QEKGV[ .QPFQP 2QNKV[ 2TGUU $TQVJGTU , 4GNKIKQWU +PUVKVWVKQPU .QPFQP .QPIOCP %GPVTCN 1HHKEG +PHQTOCVKQP .QPFQP $TKVCKP CP 1HHKEKCN *CPFDQQM 'NNKQV $ $ # *KUVQT[ QH 'PINKUJ #FXGTVKUKPI .QPFQP $WUKPGUU 2WDNKECVKQPU .VF (QTGKIP %QOOQPY 1HHKEG %GPVTCN 1HHKEG +PHQTOCVKQP .QPFQP 6JG %QOOQPYGCNVJ ;GCTDQQM
)CODNG # 6JG (TGG 'EQPQO[ VJG 5VTQPI 5VCVG 6JG 2QNKVKEU QH 6JCVEJGTKUO .QPFQP /CEOKNNCP
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
1CMNCPF ,
1CMNCPF ,
#UKIPCVWTC
4GCNKUOQ [ OQFGTPKUOQ GP NC NKVGTCVWTC KPINGUC :+:::
%T¾FKVQU
%CT±EVGT
6TQPECN
%KENQ

%WTUQ

1DLGVKXQU
2TQHWPFK\CT GP NQU EQPQEKOKGPVQU FG GUVCU FQU VGPFGPEKCU [ RGTÃQFQU FGPVTQ FG NC .KVGTCVWTC
+PINGUC RGTQ GPVGPFKFC ¾UVC FGPVTQ FG WP EQPVGZVQ GWTQRGQ GURGEKCNOGPVG GP GN ECUQ FGN /QFGTPKUOQ
5G GUVWFKCT± NC HKEEKÉP FG CWVQTGU PQ XKUVQU CPVGTKQTOGPVG [ UG CORNKCT± NC NGEVWTC FG VGZVQU FG CWVQTGU
[C GUVWFKCFQU GP EWTUQU CPVGTKQTGU
%QPVGPKFQ
4GCNKUOQ [ PQXGNC FGN 4QOCPVKEKUOQ CN 4GCNKUOQ NC GUEGPC 8KEVQTKCPC PQXGNC FG VGO±VKEC
UQEKCN &KEMGPU 6JCEMGTC[ [ 6TQNNQRG NQU PQXGNKUVCU CWVQDKQIT±HKEQU GN 0CVWTCNKUOQ KPIN¾U .C
VTCFKEKÉP NKVGTCTKC 'FWCTFKCPC NC KFGPVKFCF KORGTKCN VJG EQPFKVKQP QH 'PINCPF PQXGN
.C GUGPEKC FGN JQODTG /QFGTPQ GN ENKOC KPVGNGEVWCN [ EWNVWTCN FGN /QFGTPKUOQ 'N
/QFGTPKUOQ GP +PINCVGTTC 'N ITWRQ FG $NQQOUDWT[ [ NC PWGXC PQXGNC RTQHWPFK\CEKÉP GP NC QDTC FG
,Q[EG 9QQNH .CYTGPEG [ (QTUVGT .QU OQXKOKGPVQU NKVGTCTKQU 5KODQNKUOQ +OCIKUOQ (WVWTKUOQ
'ZRTGUKQPKUOQ [ 5WTTGCNKUOQ .C NKVGTCVWTC FG GPVTGIWGTTCU
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P D±UKECOGPVG GP NC NGEVWTC RGTUQPCNK\CFC FG NCU PQXGNCU [Q GPUC[QU
QDLGVQ FG GUVWFKQ KPVGPUKXQ [ FG UW RQUVGTKQT EQOGPVCTKQ [ CP±NKUKU EQPLWPVQ GP ENCUG )TWRQU FG
CNWOPQU UG GPECTICT±P FG RTGRCTCT GUVQU EQOGPVCTKQU EQP NC IWÃC FGN RTQHGUQT
'XCNWCEKÉP
5G TGCNK\CT± WP GZCOGP HKPCN SWG EQPUVCT± FG WPC RCTVG VGÉTKEC [ QVTC RT±EVKEC FG GXCNWCEKÉP
FG NCU NGEVWTCU 6CODK¾P UG XCNQTCT± NC RCTVKEKRCEKÉP CEVKXC FGN CNWOPQU GP NCU FKUEWUKQPGU GP ENCUG [
UG FCT± NC RQUKDKNKFCF FG GNCDQTCT WP VTCDCLQ FG KPXGUVKICEKÉP UQDTG CNIÐP VGOC EQPETGVQ
$KDNKQITCHÃC D±UKEC
$TCFDWT[ CPF /E(CTNCPG GFU
2GPIWKP /QFGTPKUO C )WKFG VQ 'WTQRGCP .KVGTCVWTG .QPFQP
6JG 0GY 2GNKECP )WKFG VQ 'PINKUJ .KVGTCVWTG 8QNU [ .QPFQP 2GPIWKP .GCXKU (4 6JG )TGCV 6TCFKVKQP .QPFQP 2GPIWKP .QFIG &CXKF 6JG #TV QH (KEVKQP .QPFQP 2GPIWKP 5VGXGPUQP 4CPFCNN # 4GCFGTU )WKFG VQ VJG 6YGPVKGVJ%GPVWT[ 0QXGN KP $TKVCKP .QPFQP *CTXGUVGT
(QTF $QTKU GF
6TQFF #
# 4GCFGTU )WKFG VQ 'FYCTFKCP .KVGTCVWTG .QPFQP *CTXGUVGT #UKIPCVWTC
5QEKQNKPIÒÃUVKEC JKUVÉTKEC FGN KPIN¾U
%T¾FKVQU
%CT±EVGT
6TQPECN
%KENQ
Q
%WTUQ
Q
#UKIPCVWTC RTGNCVKXC EQP TGURGEVQ C
/QTHQUKPVCZKU JKUVÉTKEC FGN KPIN¾U XGT R±I 1DLGVKXQU
%QOQ EQPVKPWCEKÉP FG NCU CUKIPCVWTCU FGFKECFCU CN GUVWFKQ FKCETÉPKEQ FG NC NGPIWC GN EWTUQ
RTGVGPFG RTQHWPFK\CT GP CSWGNNQU CURGEVQU Q RTQEGUQU UQEKCNGU SWG JC[CP TGRGTEWVKFQ FKTGEVCOGPVG UQDTG
GN FGUCTTQNNQ FGN KPIN¾U CUÃ EQOQ GP NCU GZRNKECEKQPGU UQEKQNKPIÒÃUVKECU SWG UG JCP QHTGEKFQ RCTC ECODKQU
NKPIÒÃUVKEQU EQPETGVQU FG GUVC NGPIWC
%QPVGPKFQ
'N EWTUQ RTGUGPVCT± WPC CRTQZKOCEKÉP VGÉTKEC C NCU XCTKCPVGU NKPIÒÃUVKECU EQTTGURQPFKGPVGU C
GVCRCU CPVKIWCU FG NC NGPIWC [ FGDGT± FGVGPGTUG GP NC FGUETKREKÉP FG FKUVKPVCU OCPKHGUVCEKQPGU FKCNGEVCNGU
FG NQU FKUVKPVQU RGTKQFQU CPVKIWQ OGFKQ [ OQFGTPQ CVGPFKGPFQ GPVTG QVTQU C HCEVQTGU IGQIT±HKEQU
HWPEKQPCNGU FG GFCF PKXGN UQEKCN Q ITCFQ FG HQTOCNKFCF %QPUKFGTCT± FKUVKPVQU VKRQU FG VGZVQU
TGNGXCPVGU [ CPCNK\CT± UWU ECTCEVGTÃUVKECU VKRQNÉIKECU [ RWTCOGPVG NKPIÒÃUVKECU
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P GP GN CP±NKUKU FG VGZVQU JKUVÉTKEQU [ GP NC TGCNK\CEKÉP FG VTCDCLQU FG
FKXGTUC ÃPFQNG [ GZVGPUKÉP GPUC[QU DTGXGU UQDTG NGEVWTCU TGEQOGPFCFCU VTCDCLQU O±U GZVGPUQU
KPFKXKFWCNGU Q GP ITWRQ GVE
'XCNWCEKÉP
5G GXCNWCT±P NQU VTCDCLQU [ RT±EVKECU TGCNK\CFCU C NQ NCTIQ FGN EWTUQ 5G TGCNK\CT± WP GZCOGP
HKPCN EQP RTGIWPVCU FG GZVGPUKÉP XCTKCDNG
$KDNKQITCHÃC D±UKEC
&GDGT± GNGIKTUG WP OCPWCN FG *KUVQTKC FG NC NGPIWC KPINGUC FG GPVTG NQU SWG QHTGEG GN OGTECFQ
6JG 'PINKUJ NCPIWCIG C JKUVQTKECN KPVTQFWEVKQP %72
$CWIJ #% %CDNG 6 # JKUVQT[ QH VJG 'PINKUJ NCPIWCIG .QPFQP 4QWVNGFIG
$CTDGT %  GF
(TQO 1NF 'PINKUJ VQ 5VCPFCTF 'PINKUJ .QPFQP /E/KNNCP
5VTCPI $/* # JKUVQT[ QH 'PINKUJ .QPFQP /GVJWGP
(TGGDQTP & 5G VTCDCLCT± EQP CTVÃEWNQU EQOQ NQU UKIWKGPVGU
&GECOR & 6JG IGPGUKU QH VJG 1NF 'PINKUJ FKCNGEVU # PGY J[RQVJGUKU
RR .CPIWCIG .CDQX 9 1P VJG OGEJCPKUO QH NKPIWKUVKE EJCPIG GP )WORGT\ *[OGU GFU
1ZHQTF $NCEMYGNN RR KP UQEKQNKPIWKUVKEU
&KTGEVKQPU
4QOCKPG 5 C 6JG TGEQPUVTWEVKQP QH NCPIWCIG KP KVU UQEKCN EQPVGZV OGVJQFQNQI[ HQT C
UQEKQJKUVQTKECN NKPIWKUVKE VJGQT[ GP #JNSXKUV GF
#OUVGTFCO ,QJP $GPLCOKPU RR 2CRGTU HTQO VJG VJ +PVGTPCVKQPCN
%QPHGTGPEG QP *KUVQTKECN .KPIWKUVKEU
#UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%KENQ
%WTUQ
6GCVTQ KPIN¾U EQPVGORQT±PGQ
6TQPECN


1DLGVKXQU
2TQRQTEKQPCT WP EQPQEKOKGPVQ ETÃVKEQ CUÃ EQOQ WPC ECRCEKFCF CPCNÃVKEC FG NQU VGZVQU
FTCO±VKEQU KPINGUGU HWPFCOGPVCNGU C NQ NCTIQ FGN UKINQ ::
%QPVGPKFQU
.C VTCPUKEKÉP FGN :+: CN :: 'N OGNQFTCOC XKEVQTKCPQ [ 1UECT 9KNFG )GQTIG $GTPCTF 5JCY [ GN &TCOC QH +FGCU +PHNWGPEKC FG *GPTKM +DUGP
'N FTCOC UQEKCN FGN RGTÃQFQ GFWCTFKCPQ ,QJP )CNUYQTVJ[ [ *CTNG[ )TCPXKNNG $CTMGT
'N VGCVTQ GZRGTKOGPVCN [ GN EQORTQOKUQ RQNÃVKEQ FG 9 * #WFGP [ %J +UJGTYQQF
'N TGCNKUOQ FG , $ 2TKGUVNG[ 'N FTCOC RQ¾VKEQ FG 6 5 'NKQV [ %JTKUVQRJGT (T[ 'N VGCVTQ EQOGTEKCN FG 9KNNKCO UQOGTUGV /CWIJCO 0QÀN %QYCTF [
6GTGPEG 4CVVKICP 'N GUVTGPQ FG
GP .QU #PIT[ ;QWPI /GP 1UDQTPG [ 9GUMGT
'N 6GCVTQ FGN #DUWTFQ $GEMGVV [ 2KPVGT
&GURW¾U FG NC +TC 6QO 5VQRRCTF ,QG 1TVQP 2GVGT 0KEJQNU %JTKUVQRJGT *CORVQP [ 2GVGT 5JCHHGT
.C ETÃVKEC UQEKCN FG &CXKF 5VQTG[ [ GN VGCVTQ RQNÃVKEQ FG NC IGPGTCEKÉP FG 'FYCTF $QPF
6TGXQT )TKHHKVJU [ &CXKF *CTG
6GCVTQ HGOKPKUVC 2CO )GOU [ %CT[N %JWTEJKNN
K
L
K
.QQM $CEM KP #PIGT
L
%CT±EVGT FG NCU RT±EVKECU
5G GUVCDNGEGT±P KPVGTXGPEKQPGU KPFKXKFWCNGU FG NQU CNWOPQU GP NCU SWG RTQEGFGT±P C CPCNK\CT
ETÃVKECOGPVG GN UKIPKHKECFQ FTCO±VKEQ FG GUEGPCU [ QDTCU RTGUGPVCPFQ GN EQTTGURQPFKGPVG VTCDCLQ
'XCNWCEKÉP
.C GXCNWCEKÉP FG NCU RT±EVKECU UG EQORNGOGPVCT± EQP NC TGCNK\CEKÉP FG WP GZCOGP HKPCN
.GEVWTCU UWIGTKFCU
6JG +ORQTVCPEG QH $GKPI 'CTPGUV 5CKPV ,QCP ,WUVKEG 6JG /CFTCU *QWUG 6JG &QI $GPGCVJ VJG 5MKP
6KOG CPF VJG %QPYC[U 6JG %QEMVCKN 2CTV[ 6JG .CF[U PQV HQT $WTPKPI 6JG %QPUVCPV 9KHG 2TKXCVG
.KXGU 5GRCTCVG 6CDNGU .QQM $CEM KP #PIGT 6JG -KVEJGP 9CKVKPI HQT )QFQV 6JG %CTGVCMGT
4QUGPETCPV\ CPF )WKNFGPUVGTP #TG &GCF 'SWWU $KPIQ %QOGFKCPU 2NGPV[ 1YPGTU
$KDNKQITCHÃC D±UKEC
$TKVKUJ 6JGCVTG UKPEG 172 *KUVQTKC ETÃVKEC FGN VGCVTQ KPIN¾U 'F /CTHKN #NEQ[ 6JG 0GY $TKVKUJ &TCOC .QPFQP #PIGT CPF #HVGT .QPFQP *C[OCP 4
*KFCNIQ 2 GF
-GTGPUM[ 1
6C[NQT , 4
#UKIPCVWTC
.KVGTCVWTC PQTVGCOGTKECPC UKINQ :: + JCUVC %T¾FKVQU
%CT±EVGT
1DNKICVQTKC
%KENQ
Q
%WTUQ
Q
#UKIPCVWTC RTGNCVKXC
.KVGTCVWTC PQTVGCOGTKECPC XGT R±I 1DLGVKXQU
'ZRQUKEKÉP IGPGTCN FG NCU EQTTKGPVGU NKVGTCTKCU FWTCPVG NC RTKOGTC OKVCF FGN UKINQ :: RQPKGPFQ
GURGEKCN ¾PHCUKU GP NQU ITCPFGU OCGUVTQU FG NC PQXGNC UWTIKFC FWTCPVG GN RGTÃQFQ FG GPVTGIWGTTCU NC
RQGUÃC OQFGTPKUVC [ GN PCEKOKGPVQ FGN VGCVTQ PQTVGCOGTKECPQ
%QPVGPKFQ
5G GUVWFKCT± NC QDTC FG 'TPGUV *GOKPIYC[ ,QJP &QU 2CUUQU ( 5EQVV (KV\IGTCNF ,QJP
5VGKPDGEM [ 9KNNKCO (CWNMPGT CUÃ EQOQ NC RQGUÃC FG 4QDGTV (TQUV '\TC 2QWPF 65 'NKQV [ 9CNNCEG
5VGXGPU LWPVQ EQP GN FTCOC FG 'WIGPG 10GKNN
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P GP NC NGEVWTC RGTUQPCNK\CFC FG NQU VGZVQU FG HKEEKÉP [ FG VGCVTQ [ FG
UW RQUVGTKQT EQOGPVCTKQ [ CP±NKUKU EQPLWPVQ GP ENCUG
'XCNWCEKÉP
5G GXCNWCT±P NQU VTCDCLQU [ RCTVKEKRCEKQPGU GP ENCUG FWTCPVG NCU ENCUGU RT±EVKECU CFGO±U FGN
GZCOGP HKPCN
$KDNKQITCHÃC
.KDTQU FG EQPUWNVC
/QFGTPKUO
'..+16 'OQT[ GF 6JG %QNWODKC .KVGTCT[ *KUVQT[ QH VJG 7PKVGF 5VCVGU %QNWODKC 72 0GY
$4#&$74; /CNEQNO GF
;QTM 6JG %CODTKFIG *KUVQT[ QH #OGTKECP .KVGTCVWTG %CODTKFIG 72 56#7(('4 &QPCNF $ # 5JQTV *KUVQT[ QH #OGTKECP 2QGVT[ 0GY ;QTM &WVVQP $+)5$; %9' # %TKVKECN +PVTQFWEVKQP VQ 6YGPVKGVJ %GPVWT[ #OGTKECP &TCOC XQN %CODTKFIG
$'4%18+6%* 5CEXCP GF
72 .QPFQP $1)#4& 6TCXKU
%QPVQWT KP 6KOG 6JG 2NC[U QH 'WIGPG 10GKNN
#PVQNQIÃCU
#OGTKECP .KVGTCVWTG 6JG /CMGTU
CPF VJG /CMKPI
6JG 0QTVQP #PVJQNQI[ QH #OGTKECP .KVGTCVWTG XQNU 0QTVQP 0GY ;QTM TF GF
$411-5 %NGCPVJ 49$ .'9+5 CPF 4QDGTV 2GPP 9#44'0
XQNU 5V /CTVKPU 2TGUU 0GY ;QTM #UKIPCVWTC
.KVGTCVWTC PQTVGCOGTKECPC UKINQ :: ++ JCUVC PWGUVTQU FÃCU
%T¾FKVQU
%CT±EVGT
1DNKICVQTKC
%KENQ
Q
%WTUQ
Q
1DLGVKXQU
'ZRQUKEKÉP FGN RCPQTCOC FG NC PQXGNC EQPVGORQT¾PGC NQU GUETKVQTGU YCUR NC GENQUKÉP FG NC
PQXGNC LWFÃC GN CUGPVCOKGPVQ FG NC PQXGNC CHTQPQTVGCOGTKECPC [ NC PQXGNC UWTGÇC .C RQGUÃC
EQPHGUKQPCN [ FG NC DGCV IGPCTCVKQP 'N VGVTQ TGCNKUVC [ PCVWTCNKUVC
%QPVGPKFQ
.CU PQXGNCU FG ,QJP %JGGXGT CPF ,QJP 7RFKMG *GPT[ 4QVJ [ NC KFGPVKFCF LWFÃC GP $GTPCTF
/CNCOWF 5CWN $GNNQY [ 2JKNKR 4QVJ .C DÐUSWGFC FG TCÃEGU GP NC NKVGTCVWTC CHTQPQTVGCOGTKECPC
4KEJCTF 9TKIJV 4CNRJ 'NNKUQP [ ,COGU $CNFYKP 'N HNQTGEKOKGPVQ FGN UWT (NCPPGT[ 1%QPPQT %CTUQP
/E%WNNGTU [ $QDDKG #PP /CUQP .C RQGUÃC FG 4QDGTV .QYGNN [ 5[NXKC 2NCVJ 'N VGCVTQ FG #TVJWT
/KNNGT 6GPPGUUGG 9KNNKCOU [ 'FYCTF #NDGG
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P GP NC NGEVWTC RGTUQPCNK\CFC FG VGZVQU [ RQUVGTKQT EQOGPVCTKQ [ CP±NKUKU
EQPLWPVQ GP ENCUG
'XCNWCEKÉP
5G GXCNWCT±P NQU VTCDCLQU [ RCTVKEKRCEKQPGU GP ENCUG FWTCPVG NCU ENCUGU RT±EVKECU CFGO±U FGN
GZCOGP HKPCN
$KDNKQITCHÃC D±UKEC
6JG %QNWODKC *KUVQT[ QH #OGTKECP .KVGTCVWTG %QNWODKC 72 0GY ;QTM 5VCWHHGT &QPCNF $ # 5JQTV *KUVQT[ QH #OGTKECP 2QGVT[
6CPPGT 6QP[ %KV[ QH 9QTFU
$KIUD[ %9' # %TKVKECN +PVTQFWEVKQP VQ 6YGPVKGVJ %GPVWT[ #OGTKECP &TCOC 8QN %72 6JG 0QTVQP #PVJQNQI[ QH #OGTKECP .KVGTCVWTG 8QNU 0QTVQP 0GY ;QTM TF GF
0GY 1ZHQTF $QQM QH #OGTKECP 8GTUG 172
'NNKQV 'OQT[ GF
#UKIPCVWTC
/GVQFQNQIÃC FG NC GPUGÇCP\C FGN KPIN¾U
%T¾FKVQU
%CT±EVGT
1DNKICVQTKC
%KENQ
Q
%WTUQ
Q
1DLGVKXQU
2TGUGPVCEKÉP FG NQU EQPEGRVQU [ RTQDNGOCU D±UKEQU FG NC CFSWKUKEKÉP FG UGIWPFCU NGPIWCU
%QPQEKOKGPVQ FG NCU RTKPEKRCNGU VGQTÃCU FG CFSWKUKEKÉP FG UGIWPFCU NGPIWCU
(COKNKCTK\CT CN CNWOPQ EQP FKUVKPVQU GUVKNQU [ GUVTCVGIKCU FG CRTGPFK\CLG FG UGIWPFCU NGPIWCU
%QPVGPKFQ
+PVTQFWEEKÉP C NC CFSWKUKEKÉP [ CRTGPFK\CLG FG UGIWPFCU NGPIWCU EQPEGRVQU D±UKEQU 6GQTÃCU FG
CFSWKUKEKÉP #TGCU FG CFSWKUKEKÉP 5KPVCZKU XQECDWNCTKQ RTCIO±VKEC HQPQNQIÃC FKUEWTUQ 'N
KPVGTNGPIWCLG VGQTÃCU FGN KPVGTNGPIWCLG 8CTKCPVGU NKDTG [ UKUVGO±VKEC 'UVKNQU [ GUVTCVGIKCU FG
CRTGPFK\CLG +PVGTCEEKÉP RTQHGUQTCNWOPQ OCPGTCU FG FGUCTTQNNCT GUVTCVGIKCU FG CFSWKUKEKÉP [
CRTGPFK\CLG
%CT±EVGT FG NCU RT±EVKECU
5G JCT±P GLGTEKEKQU RT±EVKEQU FG CRNKECEKÉP GP ITWRQ FG NQU FKUVKPVQU RWPVQU VGÉTKEQU GP ENCUG
'XCNWCEKÉP
5G JCT± WPC GXCNWCEKÉP QDLGVKXC FGN VTCDCLQ FGN CNWOPQ GP NC HQTOC SWG GN RTQHGUQT ETGC
EQPXGPKGPVG
$KDNKQITCHÃC D±UKEC
5G UGNGEEKQPCT±P NGEVWTCU FG NQU UKIWKGPVGU VGZVQU
2TKPEKRNGU QH .CPIWCIG .GCTPKPI CPF 6GCEJKPI PF GF 'PINGYQQF %NKHHU 0,
$TQYP & N
2TGPVKEG *CNN
+PVTQFWEKPI #RRNKGF .KPIWKUVKEU 'PINCPF 2GPIWKP
)CUU 5 5GNKPMGT . N 5GEQPF .CPIWCIG #ESWKUKVKQP *KNNUFCNG 0, .CYTGPEG 'TNDCWO
)CUU
-TCUJGP 5 5GEQPF .CPIWCIG #ESWKUKVKQP CPF 5GEQPF .CPIWCIG .GCTPKPI )TGCV $TKVCKP
%QTFGT 2 2GTICOQP +PUVKVWVG QH 'PINKUJ
0WPCP & .CPIWCIG 6GCEJKPI /GVJQFQNQI[ )TGCV $TKVCKP 2TGPVKEG *CNN
#UKIPCVWTC
/QTHQUKPVCZKU JKUVÉTKEC FGN KPIN¾U
%T¾FKVQU
%CT±EVGT
6TQPECN
%KENQ
Q
%WTUQ
Q
#UKIPCVWTC RTGNCVKXC
5QEKQNKPIÒÃUVKEC JKUVÉTKEC FGN KPIN¾U XGT R±I 1DLGVKXQU
'N EWTUQ RTGVGPFG GZRQPGT NCU RTKPEKRCNGU NÃPGCU FG GXQNWEKÉP FG NC NGPIWC KPINGUC GP GN VGTTGPQ
OQTHQUKPV±EVKEQ GP WP TGEQTTKFQ JKUVÉTKEQ SWG CDCTSWG FGUFG UW RGTKQFQ CPVKIWQ JCUVC NC CEVWCNKFCF
'N GUVWFKCPVG FGDGT± UCDGT HGEJCT CRTQZKOCFCOGPVG WP VGZVQ [ TGEQPQEGT GP UWU GUVTWEVWTCU NQU ECODKQU
OQTHQUKPV±EVKEQU UWEGFKFQU GP NCU FKUVKPVCU ¾RQECU CUÃ EQOQ GN ECT±EVGT GUV±PFCT Q FKCNGEVCN FG NQU
OKUOQU OCPKHGUVCFQ GP GUVQU CURGEVQU
%QPVGPKFQ
5G GUVWFKCT±P NCU ECTCEVGTÃUVKECU OQTHQUKPV±EVKECU FG ECFC WPQ FG NQU RGTKQFQU FG NC NGPIWC
KPINGUC FGUFG GN KPIN¾U CPVKIWQ JCUVC GN KPIN¾U OQFGTPQ GUVCDNGEKGPFQ EQORCTCEKQPGU GPVTG NCU FKXGTUCU
¾RQECU FG OCPGTC SWG UG QDUGTXG UW GXQNWEKÉP #UKOKUOQ UG CPCNK\CT±P NQU HCEVQTGU VCPVQ
KPVTCNKPIÒÃUVKEQU EQOQ GZVTCNKPIÒÃUVKEQU SWG CHGEVCP C ECFC RGTKQFQ [ C VQFQU GP EQOÐP
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P GP WP CP±NKUKU FG VGZVQU UGNGEEKQPCFQU [ GP TGEQPQEGT FGUFG WPC
RGTURGEVKXC FKCETÉPKEC NQU CURGEVQU OQTHQUKPV±EVKEQU TGNGXCPVGU
'XCNWCEKÉP
.C GXCNWCEKÉP UGT± EQPVKPWC RWFK¾PFQUG TGCNK\CT VTCDCLQU KPFKXKFWCNGU Q GP ITWRQ FWTCPVG GN
EWTUQ 'N GZCOGP KPENWKT± WPQ Q XCTKQU VGZVQU GP GN SWG UG FGDGT±P EQPVGUVCT RTGIWPVCU TGNCVKXCU C
EWGUVKQPGU OQTHQUKPV±EVKECU UGNGEEKQPCFCU
$KDNKQITCHÃC D±UKEC
*KUVQT[ QH VJG 'PINKUJ NCPIWCIG .GKR\KI 8'$ 8GTNCI 'P\[MNQR·FKG
564#0) $/* # JKUVQT[ QH 'PINKUJ .QPFQP /GVJWGP
*1)) 4/ GF IGPGTCN 6JG %CODTKFIG JKUVQT[ QH VJG 'PINKUJ NCPIWCIG %CODTKFIG %72
$'40&6 4 5GNGEEKÉP FG ECRÃVWNQU FG NQU FKHGTGPVGU XQNÐOGPGU TGNCVKXQU C CURGEVQU OQTHQUKPV±EVKEQU
#UKIPCVWTC
2TCIO±VKEC FGN KPIN¾U
%T¾FKVQU
%CT±EVGT
1DNKICVQTKC
%KENQ
Q
%WTUQ
Q
'U PGEGUCTKQ JCDGT EWTUCFQ CPVGU
)TCO±VKEC KPINGUC FKUEWTUQ [ VGZVQ XGT R±I 1DLGVKXQU
(COKNKCTK\CT CN CNWOPQ EQP NQU EQPEGRVQU HWPFCOGPVCNGU [ NQU JKVQU O±U KORQTVCPVGU FGN
FGUCTTQNNQ FG NC RTCIO±VKEC OQUVTCPFQ NCU RQUKDKNKFCFGU GZRNKECVKXCU [ NCU XGPVCLCU FG FKEJQ GPHQSWG
CRNKECFQ C NC NGPIWC KPINGUC
%QPVGPKFQ
&GHKPKEKÉP 2TCIO±VKEC [ 5GO±PVKEC .C &GKZKU 'N RTKPEKRKQ FG %QQRGTCVKXKFCF FG
)TKEG +ORNKECVWTC EQPXGPEKQPCN [ EQPXGTUCEKQPCN .C RTGUWRQUKEKÉP .QU CEVQU FG JCDNC #PCNKUKU FGN FKUEWTUQ [ CP±NKUKU EQPXGTUCEKQPCN 4GNCEKQPGU GPVTG NC 2TCIO±VKEC [ NC 5KPVCZKU 6GQTÃC FG NC %QTVGUÃC 6GQTÃC FG NC 4GNGXCPEKC
%CT±EVGT FG NCU RT±EVKECU
5G GNCDQTCT±P ITWRQU FG VTCDCLQ GPVTG NQU CNWOPQU UQDTG ECFC WPQ FG NQU RWPVQU FGN RTQITCOC
GPECTICFQU FG GZRQPGT NC RTQDNGO±VKEC SWG GPEKGTTC ECFC WPQ FG GNNQU [ GNCDQTCT NC FKUEWUKÉP
#UKOKUOQ UG TGCNK\CT±P GLGTEKEKQU RT±EVKEQU DCUCFQU GP NC CRNKECEKÉP FG NQU RTKPEKRKQU [ VGQTÃCU
RTCIO±VKECU C GLGORNQU NKPIÒÃUVKEQU EQPETGVQU
'XCNWCEKÉP
5G GXCNWCT± C VTCX¾U FG GLGTEKEKQU [ RTWGDCU QDLGVKXCU NC ECRCEKFCF FGN CNWOPQ FG C GZRNKECT
[ GLGORNKHKECT NQU EQPEGRVQU VGÉTKEQU GUVWFKCFQU [ D CPCNK\CT GPWPEKCFQU [ VGZVQU FGUFG GN RWPVQ FG
XKUVC RTCIO±VKEQ
$KDNKQITCHÃC D±UKEC
2TCIOCVKEU # 4GCFGT 1ZHQTF 1ZHQTF 7PKXGTUKV[ 2TGUU
/G[ , 2TCIOCVKEU #P +PVTQFWEVKQP )TGCV $TKVCKP $NCEMYGNN
6JQOCU , /GCPKPI KP +PVGTCEVKQP #P +PVTQFWEVKQP VQ 2TCIOCVKEU .QPFQP .QPIOCP
;WNG ) 2TCIOCVKEU 1ZHQTF 1ZHQTF 7PKXGTUKV[ 2TGUU
&CXKU 5 #UKIPCVWTC
2QGUÃC KPINGUC FG NQU UKINQU :+: [ ::
%T¾FKVQU
%CT±EVGT
1DNKICVQTKC
%KENQ
Q
%WTUQ
Q
1DLGVKXQU
'ZRQPGT NCU NÃPGCU RTKPEKRCNGU FG NC GXQNWEKÉP FG NC RQGUÃC KPINGUC C NQ NCTIQ FG NQU FQU ÐNVKOQU
UKINQU 'N CNWOPCFQ JCDT± FG VGPGT WPC RGTURGEVKXC FKCETÉPKEC FG NQU FKUVKPVQU OQXKOKGPVQU RQ¾VKEQU
[ UWU CWVQTGU O±U TGRTGUGPVCVKXQU
%QPVGPKFQ
'UVWFKQ [ RTQHWPFK\CEKÉP GP NQU EQPEGRVQU FG VTCFKEKÉP G KPPQXCEKÉP GP RQGUÃC 5G GUVWFKCT± GP
RTQHWPFKFCF C NQU CWVQTGU EQP RGTURGEVKXC JKUVÉTKEC GP UW EQPVTKDWEKÉP O±U KORQTVCPVG C NC JKUVQTKC
[ GXQNWEKÉP FG NC RQGUÃC FGUFG EQOKGP\QU FGN UKINQ :+: JCUVC NCU OCPKHGUVCEKQPGU RQ¾VKECU FG NCU
Ð N V K O C U
F ¾ E C F C U
F G N
U K I N Q
: : %CT±EVGT FG NCU RT±EVKECU
%QOGPVCTKQ [ CP±NKUKU FG RQGOCU EQPETGVQU TGRTGUGPVCVKXQU VCPVQ FG NQU FKUVKPVQU CWVQTGU EQOQ
FG NQU FKUVKPVQU RGTÃQFQU Q OQXKOKGPVQU 5G RTQEWTCT± GP VQFQ OQOGPVQ NC RCTVKEKRCEKÉP CEVKXC FGN
CNWOPCFQ EQP GN HKP FG NQITCT NC KORNKECEKÉP RGTUQPCN PGEGUCTKC RCTC NC ECRVCEKÉP FGN JGEJQ RQ¾VKEQ
'XCNWCEKÉP
HKPCN
5G GXCNWCT±P NQU VTCDCLQU [ RCTVKEKRCEKQPGU GP ENCUG FWTCPVG NCU RT±EVKECU CFGOCU FGN GZCOGP
$KDNKQITCHÃC D±UKEC
6JG 1ZHQTF #PVJQNQI[ QH 'PINKUJ 2QGVT[ 8QN $NCMG VQ *GCPG[ 1ZHQTF 72
$NCEMDWTP , *CTF[ VQ *GCPG[ .QPFQP .QPIOCP
%WTTCPV 5 2QGVKE (QTO CPF $TKVKUJ 4QOCPVKEKUO 1ZHQTF 72
)TKGTUQP *,% 5OKVJ , %
# ETKVKECN *KUVQT[ QH 'PINKUJ 2QGVT[ .QPFQP #VJNQPG 2TGUU
.GCXKU (4 0GY $GCTKPIU KP 'PINKUJ 2QGVT[ 2GPIWKP
2TQITCOCU
EQTTGURQPFKGPVGU
CNCUCUKIPCVWTCU
FG5GIWPFQ%KENQ
1RVCVKXCU
#UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%KENQ
#P±NKUKU FG NC EQPXGTUCEKÉP KPIN¾U
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'K

1DLGVKXQU
&CT C NQU CNWOPQU WP EQPQEKOKGPVQ IGPGTCN FG NQ SWG GU GN ±TGC FG #P±NKUKU FG NC %QPXGTUCEKÉP [
FQVCTNGU FG WPC JGTTCOKGPVC RCTC RQFGT CPCNK\CT [ EQORTGPFGT UCVKUHCEVQTKCOGPVG GN I¾PGTQ FG NC
EQPXGTUCEKÉP KPHQTOCN GP KPIN¾U
%QPVGPKFQU
5EQRG CPF RWTRQUG QH %QPXGTUCVKQP #PCN[UKU
%QPXGTUCVKQP #PCN[UKU CPF NKPIWKUVKEU
%QPEGRVU QH %QPXGTUCVKQP #PCN[UKU
/GVJQFQNQI[ QH %#
&CVC %QNNGEVKQP
%QPXGTUCVKQP #PCN[UKU CPF &KUEQWTUG #PCN[UKU
6JG #FLCEGPE[ 2CKT XU VJG 'ZEJCPIG
%QPXGTUCVKQP #PCN[UKU CPF VJG 'VJPQITCRJ[ QH 5RGCMKPI
6JG 5RGGEJ 'XGPV
%CT±EVGT FG NCU RT±EVKECU
5G CPCNK\CT±P EQPXGTUCEKQPGU TGCNGU GP KPIN¾U 6CODK¾P UG KPVGPVCT± SWG NQU CNWOPQU ITCDGP [
VTCPUETKDCP UW RTQRKQ OCVGTKCN JCDNCFQ
'XCNWCEKÉP
.QU CNWOPQU VGPFT±P SWG CPCNK\CT WPC Q XCTKCU EQPXGTUCEKQPGU CRNKECPFQ VQFQU NQU EQPQEKOKGPVQU
CRTGPFKFQU C NQ NCTIQ FGN EWTUQ
$KDNKQITCHÃC D±UKEC
2QNKVGPGUU 5QOG WPKXGTUCNU KP NCPIWCIG WUCIG
6JG 2TGFKEVCDKNKV[ QH KPHQTOCN EQPXGTUCVKQP
6QRKE +PVTQFWEVKQP KP 'PINKUJ %QPXGTUCVKQP
5RGGEJ #EVU 5[PVCZ CPF
$TQYP 2 5 .GXKPUQP %CODTKFIG %72
%JGGRGP %J .QPFQP2KPVGT
)GNW[MGPU 4 !
%CODTKFIG%72
)TKEG *2 .QIKE CPF EQPXGTUCVKQP KP %QNG 2 ,/QTICP GFU
XQN 0;#ECFGOKE 2TGUU
5CEMU * '5EJGINQHH ) ,GHHGTUQP # UKORNGUV U[UVGOCVKEU HQT VJG QTICPK\CVKQP QH VWTP
VCMKPI KP EQPXGTUCVKQP KP
5EJGINQHH ' *5CEMU 1RGPKPI WR ENQUKPIU KP
5EJKHHTKP & %QPXGTUCVKQP #PCN[UKU KP 0GYOG[GT ( GF
XQN %CODTKFIG%72
6UWK # 1ZHQTF172
9CTFCWIJ 4 1ZHQTF$NCEMYGNN
.GEVWTCU QDNKICVQTKCU
#VMKPUQP ,/ , *GTKVCIG GFU %CODTKFIG%72
UGNGEVGF EJCRVGTU
%JGGRGP % , /QPCIJCP .QPFQP2KPVGT UGNGEVGF RCTVU
.GXKPUQP 5 %CODTKFIG%72 %JCRVGT QPN[
5GOCPVKEU
.CPIWCIG
5WTXG[
5GOKQVKEC
6JG UQEKQEWNVWTCN EQPVGZV
'PINKUJ %QPXGTUCVKQP
*QY %QPXGTUCVKQP 9QTMU
.KPIWKUVKEU 6JG %CODTKFIG
5VTWEVWTGU QH 5QEKCN #EVKQP 5VWFKGU KP %QPXGTUCVKQP
#PCN[UKU
2TCIOCVKEU
5RQMGP 'PINKUJ
#UKIPCVWTC
%KPG [ NKVGTCVWTC FG JCDNC KPINGUC
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
2TQHWPFK\CT GP NQU EQPQEKOKGPVQU FG NC TGNCEKÉP GPVTG NC NKVGTCVWTC PCTTCVKXC [ GN EKPG PCTTCVKXQ
FG JCDNC KPINGUC FGPVTQ FG WP EQPVGZVQ DTKV±PKEQ [ COGTKECPQ [ DCUCFQU GP GUVWFKQU FG VGZVQU NKVGTCTKQU
[ CWFKQXKUWCNGU EQPETGVQU .C RCTVG VGÉTKEC UG FGFKEC C NCU UKOKNKVWFGU [ FKHGTGPEKCU GPVTG NQU FKUVKPVQU
NGPIWCLGU FG NC PQXGNC [ GN EKPG WP CEGTECOKGPVQ C EWGUVKQPGU FG NC V¾EPKEC PCTTCVKXC XCTKCEKQPGU GP
NC TGCNK\CEKÉP VGZVQ [ NGEVQTGURGEVCFQT GPVTG NKVGTCVWTC [ EKPG ETKVGTKQU FG XCNQT CTVÃUVKEQ GVE
%QPVGPKFQ
%QORCTCEKQPGU V¾EPKECU [ VGO±VKECU GPVTG PCTTCVKXCU COGTKECPCU G KPINGUCU GP RTQUC SWG JCP
UKFQ VTCFWEKFCU CN OGFKQ CWFKQXKUWCN UGIÐP NCU PQTOCU FG UW I¾PGTQ NKVGTCTKQ Q EKPGOCVQIT±HKEQ QDTC
VGCVTCN PQXGNC TGCNKUVC PQXGNC GZRGTKOGPVCN CWVQDKQITCHÃC EKPG PGITQ GVE .QU VGZVQU [ NCU RGNÃEWNCU
UGT±P UGNGEEKQPCFQUCU FGUFG RQT GLGORNQ /CEDGVJ 5JCMGURGCTG2QNCPUMK *CONGV 5JCMGURGC
TG1NKXKGT 6QO ,QPGU (KGNFKPI4KEJCTFUQP )TGCV 'ZRGEVCVKQPU &KEMGPU.GCP # 2CUUCIG VQ
+PFKC (QTUVGT.GCP 7N[UUGU ,Q[EG 6JG $KI 5NGGR %JCPFNGT*CYMU .QNKVC 0CDQ
MQX-WDTKEM /[ $TKNNKCPV
%CTGGT (TCPMNKP#TOUVTQPI 6JG 5JKPKPI -KPI-WDTKEM
6TCKPURQVVKPI 9GNUJ$Q[NG
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P D±UKECOGPVG GP NC NGEVWTC RGTUQPCNK\CFC FG NCU PQXGNCU [ GN RQUVGTKQT
CP±NKUKU FG NC RGNÃEWNC EQTTGURQPFKGPVG [Q UW IWKÉP EQP EQOGPVCTKQU [ RTQHWPFK\CEKÉP GP ENCUG )TWRQU
FG CNWOPQU UG GPECTICT±P FG RTGRCTCT CNIWPQU FG GUVQU EQOGPVCTKQU IWKCFQU RQT GN RTQHGUQT
'XCNWCEKÉP
2QT VTCDCLQU FG KPXGUVKICEKÉP
$KDNKQITCHÃC D±UKEC
$GPPGV $Q[F$QYOCP /GTEGT CPF 9QQNNCEQVV GFU
7PKX 2TGUU CPF $(+ 2QRWNCT 6GNGXKUKQP CPF (KNO .QPFQP 1RGP
0CTTCVKQP KP VJG (KEVKQP (KNO .QPFQP /GVJWGP %JCVOCP 5 5VQT[ CPF &KUEQWTUG 0CTTCVKXG 5VTWEVWTG KP (KNO CPF 2TQUG (KEVKQP +VJCEC .QPFQP
$QTFYGNN & %QTPGNN 7PKX 2TGUU 5ETGGPKPI VJG 0QXGN 6JG 6JGQT[ CPF 2TCEVKEG QH .KVGTCT[ &TCOCVK\CVKQP
)KFFKPIU 5GND[ 9GPUNG[
.QPFQP /CE/KNNCP 5VQT[VGNNKPI CPF /[VJOCMKPI +OCIGU HTQO (KNO CPF .KVGTCVWTG
/E%QPPGNN (TCPM
172 0GY ;QTM
#UKIPCVWTC
%QOGPVCTKQ NKPIÒÃUVKEQ FG VGZVQU RQ¾VKEQU KPIN¾U CPVKIWQ
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
#UKIPCVWTC SWG TGSWKGTG EQPQEKOKGPVQU RTGXKQU FG KPIN¾U CPVKIWQ 4GEQOGPFCFC FGURW¾U FG JCDGT
EWTUCFQ
XGT R±I +PVTQFWEEKÉP CN KPIN¾U CPVKIWQ
1DLGVKXQU
#ORNKCEKÉP FGN EQPQEKOKGPVQ FG NQU GUVWFKCPVGU UQDTG GN OWPFQ CPINQUCLÉP GP NC CNVC GFCF
OGFKC UGIÐP UG TGHNGLC GP NQU VGZVQU RQ¾VKEQU
'ZVGPUKÉP FGN GUVWFKQ FG NC NGPIWC KPINGUC FWTCPVG GN RGTKQFQ FGN KPIN¾U CPVKIWQ EQP CRNKECEKÉP
GURGEÃHKEC GP QDTCU RGTVGPGEKGPVGU CN VKRQ FG VGZVQU RQ¾VKEQU
+PVTQFWEEKÉP FG NCU ECTCEVGTÃUVKECU VGZVWCNGU TGVÉTKEQEQIPKVKXCU UKPV±EVKECU N¾ZKECU [
RTQUÉFKECU FG NC RQGUÃC GP GN RGTKQFQ FGN KPIN¾U CPVKIWQ
%QPVGPKFQ
'UVCDNGEKOKGPVQ FGN OCTEQ UQEKQEWNVWTCN GP GN SWG UG KPUETKDG NC RTQFWEEKÉP RQ¾VKEC CPINQUCLQPC
FGUFG GN UKINQ 8+++ JCUVC GN :+ +IWCNOGPVG UG UGNGEEKQPCT±P [ CRNKECT±P EQPEGRVQU HWPFCOGPVCNGU FGN
CP±NKUKU [ FGUETKREKÉP FG RTQFWEEKÉP [ EQORQUKEKÉP VGZVWCN
5G RTGUGPVCT± WP RCPQTCOC IGPGTCN UQDTG NC RTQFWEEKÉP RQ¾VKEC CPINQUCLQPC 5G GUVWFKCT±P NCU
GUVTWEVWTCU NKPIÒÃUVKECU [ ECTCEVGTÃUVKECU FG FKEEKÉP GURGEÃHKECU FG NC RQGUÃC FG NC CNVC GFCF OGFKC CUÃ
EQOQ NCU GUVTWEVWTCU O¾VTKECU FG CEGPVWCEKÉP TÃVOQ [ CNKVGTCEKÉP GP NQU VGZVQU RQ¾VKEQU FGN KPIN¾U
CPVKIWQ #UKOKUOQ UG XGT± NC GXQNWEKÉP [ NCU KPHNWGPEKCU RQUVGTKQTGU FG GUVG VKRQ FG RTQFWEEKÉP RQ¾VKEC
%CT±EVGT FG NCU RT±EVKECU
.QU EQPVGPKFQU FGN EWTUQ UG XGT±P CRNKECFQU GP GN CP±NKUKU FGUETKREKÉP [ EQOGPVCTKQ GZJCWUVKXQ
FG VGZVQU RQ¾VKEQU CPINQUCLQPGU
'XCNWCEKÉP
.C GXCNWCEKÉP UG JCT± FG HQTOC EQPVKPWC FWTCPVG GN EWTUQ XCNQT±PFQUG NC RCTVKEKRCEKÉP FG NQU
CNWOPQU GP ENCUG OGFKCPVG NC TGCNK\CEKÉP FG VTCDCLQU FG FKHGTGPVGU VKRQU +IWCNOGPVG NQUNCU GUVWFKCPVGU
FGDGT±P UWRGTCT WP GZCOGP HKPCN FG RTGIWPVCU FG GZVGPUKÉP XCTKCDNG [Q EQOGPVCTKQ VGZVWCN
$KDNKQITCHÃC D±UKEC
1NF 'PINKUJ 2QGVT[ 'UUC[U QP 5V[NG 7PKXGTUKV[ QH %CNKHQTPKC 2TGUU
)4''0(+'.& 5$ 6JG +PVGTRTGVCVKQP QH 1' 2QGOU .QPFQP 4QWVNGFIG
94'00 %. # 5VWF[ QH 1NF 'PINKUJ .KVGTCVWTG .QPFQP *CTTCR
%#.&'4 &) #UKIPCVWTC
%QOGPVCTKQU FG VGZVQU NKVGTCTKQU OGFKGXCNGU KPINGUGU
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
4GNCEKQPCT NCU OCPKHGUVCEKQPGU NKVGTCTKCU FG FQU RGTKQFQU ETQPQNÉIKEQU EQTTGURQPFKGPVGU C NC
'FCF /GFKC UKINQU 8++ : [ UKINQU :++ :8 RTGUGPVCFQU C XGEGU EQOQ IGPGTCFQTGU FG NKVGTCVWTCU
FKUVKPVCU
%QPVGPKFQ
5GNGEEKÉP FG HTCIOGPVQU FG QDTCU EQTTGURQPFKGPVGU C
6GZVQU NKVGTCTKQU FGN RGTÃQFQ +PIN¾U #PVKIWQ 6JG 2QGV %CGFOQP $GFG $GQYWNH %[PGYWNH
CPF %[PGJGCTF #PINQ5CZQP %JTQPKENG 6JG $CVVNG QHH (KPPUDWTIJ 6JG &TGCO QH VJG
4QQF 6JG 5GCHCTGT 6JG 8Q[CIG QH 1VJGTG -KPI #NHTGF /CNFQP
5KINQ :++ 6JG EQTQPCVK QH #TVJWT ) QH /QPOQXVJ
5KINQ :+++ 1H 5RGGEJ #PETGPG 4KYNG 6JG 1YN CPF VJG 0KIJVKPICNG
5KINQ :+8:8 6JG 2GCTN 5KT )CYCKP 2KGTU 2NQYOCP 9 .CPINCPF # 4WNG QH NKHG
9[ENKHHG 5KT 6TKUVTCO CPF +UQXF /CNQT[ 6JG %CPVGTDWT[ 6CNGU %JCWEGT
%CT±EVGT FG NCU RT±EVKECU
#P±NKUKU [ EQOGPVCTKQ FG NC UGNGEEKÉP FG VGZVQU RTQRWGUVQU 'ZRQUKEKÉP FG EQPENWUKQPGU FGURW¾U
FG GUVCDNGEGT EQORCTCEKQPGU FG VGZVQU RGTVGPGEKGPVGU C FKUVKPVCU ¾RQECU [ I¾PGTQU
'XCNWCEKÉP
5G XCNQTCT±P NCU GZRQUKEKQPGU QTCNGU VTCDCLQU RCTVKEKRCEKÉP GP ENCUG LWPVQ EQP GN TGUWNVCFQ FGN
GZCOGP HKPCN
$KDNKQITCHÃC D±UKEC
#PINQ5CZQP 2QGVT[
#
%JQKEG QH
5#, $TCFNG[ 'F 'XGT[OCPU .QPFQP #PINQ 5CZQP 8GTUG
(CDGT
CPF
(CDGT
.QPFQP
#P #PVJQNQI[ QH 'PINKUJ 2TQUG 'XGT[OCPU .KDTCT[ 6JG 1ZHQTF $QQM QH /GFKCGXCN 'PINKUJ 8GTUG 1 7 2 VJ %GPVWT[ 8GTUG CPF 2TQUG - 5KUCO GF 1 7 2 'CTN[ /KFFNG 'PINKUJ 8GTUG CPF 2TQUG , # $GPPGV ) 8 5OKVJGTU GFU 0 ;QTM #UKIPCVWTC
.C ETÃVKEC NKVGTCTKC GP NGPIWC KPINGUC QTÃIGPGU GXQNWEKÉP GUEWGNCU [ OQFGNQU
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ

1LGVKXQU
+PVTQFWEKT CN CNWOPQC GP GN GUVWFKQ FG FKHGTGPVGU OQFGNQU ETÃVKEQU [ VGÉTKEQU FGUFG NQU QTÃIGPGU
FG NC ETÃVKEC NKVGTCTKC GP KPIN¾U JCUVC NC ¾RQEC CEVWCN /GFKCPVG FKEJQ GUVWFKQ UG RTGVGPFG SWG GN CNWOPQC
EQPQ\EC NC GXQNWEKÉP FG GUVC VTCFKEKÉP ETÃVKEC [ NQU RTQDNGOCU SWG RNCPVGC NC NGEVWTC ETÃVKEC
%QPVGPKFQ
2TGUGPVCEKÉP FG WPC XKUKÉP FKCETÉPKEC FG NC VTCFKEKÉP ETÃVKEC NKVGTCTKC GP KPIN¾U FGUFG UWU
EQOKGP\QU JCUVC JQ[ GP FÃC 5G RTGUVCT± GURGEKCN CVGPEKÉP C NCU GUEWGNCU ETÃVKECU [ VGÉTKECU O±U
TGNGXCPVGU FGN UKINQ :: [ C NQU RTQDNGOCU SWG RTGUGPVC NC NGEVWTC ETÃVKEC CEVWCN
2T±EVKECU
#RNKECT CNIWPQU OQFGNQU ETÃVKEQU C WPC UGNGEEKÉP FG VGZVQU NKVGTCTKQU
'XCNWCEKÉP
/GFKCPVG GZ±OGPGU [Q VTCDCLQU [Q GZRQUKEKQPGU QTCNGU GP ENCUG
$KDNKQITCHÃC D±UKEC
*KUVQTKECN *CPFDQQM QH .KVGTCT[ %TKVKEKUO$CUKPIUVQMG /CEOKNNCP
$GTIQP\K $ 'ZRNQFKPI 'PINKUJ %TKVKEKUO 6JGQT[ %WNVWTG 1ZHQTF %NCTGPFQP 2TGUU
&CKEJGU & %TKVKECN #RRTQCEJ VQ .KVGTCVWTG .QPFQP .QPIOCP
'CINGVQP 6 .KVGTCT[ 6JGQT[ 1ZHQTF $CUKN $NCEMYGNN
5GNFGP 4 GF 6JG 6JGQT[ QH %TKVKEKUO .QPFQP .QPIOCP
5GNFGP 4 9KFFQYUQP 2 %QPVGORQTCT[ .KVGTCT[ 6JGQT[ .QPFQP *CTXGUVGT 9JGCVUJGCH
9CNFGT & GF .KVGTCVWTG KP VJG /QFGTP 9QTNF 1ZHQTF 1ZHQTF 7PKXGTUKV[ 2TGUU
#UJG #* &KEEKQPCTKQU
/QFGTP %TKVKECN 6GTOU .QPFQP 4QWVNGFIG -GICP 2CWN
*CYVJQTP , # %QPEKUG )NQUUCT[ QH %QPVGORQTCT[ .KVGTCT[ 6JGQT[ .QPFQP 'FYCTF #TPQNF
(QYNGU 4 'UVC TGNCEKÉP RQFT± UGT EQORNGVCFC EQP GUVWFKQU GURGEÃHKEQU FG NCU FKHGTGPVGU GUEWGNCU ETÃVKECU [ VGÉTKECU
#UKIPCVWTC
'PVQPCEKÉP FGN KPIN¾U
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'K
%KENQ

1DLGVKXQU
#N VGTOKPCT GN EWTUQ UG GURGTC SWG GN CNWOPQ C UGRC KFGPVKHKECT NQU FKUVKPVQU VQPQU UKORNGU [
EQORWGUVQU FGN KPIN¾U KFGPVKHKSWG NC HWPEKÉP FG FKEJQU VQPQU UGIÐP GN VKRQ FG FKUEWTUQ [ NQU
GNGOGPVQU FGN EQPVGZVQ RWGFC KOKVCT FKEJQU VQPQU RWGFC KFGPVKHKECT QVTQU TCUIQU RTQUÉFKEQU SWG
CEQORCÇCP NC GPVQPCEKÉP CUK EQOQ NC HWPEKÉP SWG GNNQU EWORNGP FGPVTQ FGN FKUEWTUQ WVKNKEG WPC
GPVQPCEKÉP CRTQRKCFC GP UKVWCEKQPGU EQOWPKECVKXCU GP NCU SWG WUG GN KPIN¾U
%QPVGPKFQU
)GPGTCN HGCVWTGU QH KPVQPCVKQP 4QNGU QH KPVQPCVKQP 6QPGU .'8'. 4+5' (#..
(#..4+5' 4+5'(#.. 5KORNG VWPGU &GXKEGU HQT IKXKPI GORJCUKU *KIJNKIJVKPI 6GNNKPI CPF TGHGTTKPI 4QNGU CPF UVCVWU QH URGCMGTU .QYMG[ KPHQTOCVKQP %QPVTCUVU 1VJGT RTQUQFKE HGCVWTGU CEQORCP[KPI KPVQPCVKQP
'XCNWCEKÉP
5G JCT± WPC GXCNWCEKÉP EQPVKPWC OGFKCPVG ENCUGU RT±EVKECU GP GN NCDQTCVQTKQ CFGO±U FG WP
GZCOGP HKPCN GP GN EWCN GN CNWOPQ FGDC KFGPVKHKECT NQU FKHGTGPVGU VQPQU [ TCUIQU RTQUÉFKEQU GUVWFKCFQU
CUÃ EQOQ OCTECT NC GPVQPCEKÉP FG WP HTCIOGPVQ FG FKUEWTUQ SWG UG NG JCIC GUEWEJCT
$KDNKQITCHÃC
+PVQPCVKQP KP EQPVGZV %CODTKFIG %72
(KPEJ & 1TVK\ .KTC * # EQWTUG KP 'PINKUJ 2JQPGVKEU HQT 5RCPKUJ 5RGCMGTU .QPFQP
$TCFHQTF $ *GKPGOCPP
#P +PVTQFWEVKQP VQ VJG 2TQPWPEKCVKQP QH 'PINKUJ $TKUVQN 'FYCTF #TPQNF
1%QPPQT , & #TPQNF ) ( +PVQPCVKQP QH %QNNQSWKCN 'PINKUJ .QPFQP .QPIOCP
-KPIFQP 4 6JG )TQWPFYQTM QH 'PINKUJ +PVQPCVKQP .QPFQP .QPIOCP
)KOUQP # % #UKIPCVWTC
'UVKNÃUVKEC KPINGUC [ VKRQNQIÃC VGZVWCN
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'K
%KENQ

1DLGVKXQU
1HTGEGT CN CNWOPQ WPC DCUG RCTC GN CP±NKUKU VGZVWCN [ GUVKNÃUVKEQ FG VGZVQU GP NGPIWC KPINGUC SWG
RGTOKVC FGHKPKT NQU ETKVGTKQU HQTOCNGU GUVKNÃUVKEQU [ UGO±PVKEQU RCTC WPC VKRQNQIÃC VGZVWCN [ HQOGPVCT
UW GURÃTKVW ETÃVKEQ
%QPVGPKFQU
.GPIWCLG [ GUVKNQ .C KPVGITCEKÉP FGN GUVWFKQ FG NC NKVGTCVWTC [ NC NKPIÒÃUVKEC %QPEGRVQU
KORQTVCPVGU FG NC 'UVKNÃUVKEC KPINGUC *GTTCOKGPVCU NKPIÒÃUVKECU RCTC GN CP±NKUKU GUVKNÃUVKEQ FG VGZVQU 6KRQU
FG VGZVQU
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P GP GN CP±NKUKU GZJCWUVKXQ VCPVQ GP ENCUG EQOQ KPFKXKFWCNOGPVG FG WPC
CORNKC UGNGEEKÉP FG VGZVQU
'XCNWCEKÉP
6TCDCLQU KPFKXKFWCNGU [ GP ITWRQ CUÃ EQOQ WP GZCOGP HKPCN
$KDNKQITCHÃC D±UKEC
%CTVGT 4 9 0CUJ GF
1ZHQTF $CUKN $NCEMYGNN
5GGKPI 6JTQWIJ .CPIWCIG # )WKFG VQ 5V[NGU QH 'PINKUJ 9TKVKPI
+PVTQFWEKPI 5V[NKUVKEU .QPFQP7PYKP *[OCP
.GGEJ )0 # .KPIWKUVKE )WKFG VQ 2QGVT[ .QPFQP.QPIOCP
.GGEJ )0 / 5JQTV 5V[NG KP (KEVKQP .QPFQP.QPIOCP
9CNGU -
# &KEVKQPCT[ QH 5V[NKUVKEU .QPFQP.QPIOCP
*C[PGU , #UKIPCVWTC
'UVTWEVWTCEKÉP EQIPKVKXC FGN VGZVQ KPIN¾U
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
#RNKECEKÉP GURGEÃHKEC FG NQU EQPQEKOKGPVQU FG RUKEQNKPIÒÃUVKEC CN RTQEGUCOKGPVQ FG VGZVQU VCPVQ
GP UW FKTGEEKÉP FG RTQFWEEKÉP VGZVWCN EQOQ GP UW RTQEGUQ FG EQORTGPUKÉP GP FKHGTGPVGU VKRQU FG VGZVQ
GP NGPIWC KPINGUC
%QPVGPKFQ
5GNGEEKÉP GURGEÃHKEC FG VGZVQU KPINGUGU [ CRNKECEKÉP FG OQFGNQU EQIPKVKXQU GP RTQEGUQU FG
RTQFWEEKÉP [ EQORTGPUKÉP VGZVWCN 7PKFCFGU GNGOGPVQU [ RTQEGUQU WVKNK\CFQU RCTC GN CP±NKUKU [
GZRNKECEKÉP FG NC GUVTWEVWTCEKÉP RTQEGUWCN FGN VGZVQ +ORNKECEKQPGU [ FGUCTTQNNQ FG NQU GUVWFKQU UQDTG
GUVTWEVWTCEKÉP EQIPKVKXC VGZVWCN GP ECORQU FG GUVWFKQ EQOQ RQT GLGORNQ NC +PVGNKIGPEKC #TVKHKEKCN GVE
%CT±EVGT FG NCU RT±EVKECU
&WTCPVG GN EWTUQ UG FGUCTTQNNCT±P RT±EVKECU FG CP±NKUKU FG VGZVQU CUÃ EQOQ FG EQOGPVCTKQ UQDTG
VTCDCLQU GZRGTKOGPVCNGU [ VGÉTKEQU SWG UG FGUCTTQNNGP GP ENCUG
'XCNWCEKÉP
.C GXCNWCEKÉP UGT± FG ECT±EVGT EQPVKPWQ XCNQT±PFQUG NC RCTVKEKRCEKÉP FGN CNWOPQ GP NQU VTCDCLQU
FG ENCUG [ GP CSWGNNQU SWG UG FGUCTTQNNGP GP ITWRQU Q KPFKXKFWCNOGPVG #UKOKUOQ NQUNCU GUVWFKCPVGU
FGDGT±P RCUCT WP GZCOGP HKPCN CN V¾TOKPQ FGN EWTUQ
$KDNKQITCHÃC D±UKEC
+PVTQFWEVKQP VQ 6GZV .KPIWKUVKEU .QPFQP .QPIOCP
$GTP±TFG\ ' 6GQTÃC [ 'RKUVGOQNQIÃC FGN 6GZVQ /CFTKF %±VGFTC
&KLM XCP 6 # CPF 9 -KPVUEJ 5VTCVGIKGU QH &KUEQWTUG %QORTGJGPUKQP 0GY ;QTM #ECFGOKE
$GCWITCPFG FG 4 CPF 9 &TGUUNGT 2TGUU
#UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%KENQ
*KUVQTKC [ HKEEKÉP GP NC NKVGTCVWTC KPINGUC
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK

1DLGVKXQU
4GXKUCT FKCETÉPKECOGPVG GN QTKIGP GXQNWEKÉP G KPHNWGPEKC FG NC 0QXGNC *KUVÉTKEC VCPVQ FGUFG
WP RWPVQ FG XKUVC UWDIGP¾TKEQ EQOQ GP UWU EQPGZKQPGU EQP QVTCU HQTOCU FG HKEEKÉP SWG VKGPG TGNCEKÉP
EQP NC JKUVQTKC DTKV±PKEC
%QPVGPKFQ
+PVTQFWEEKÉP IGPGTCN CN TGCNKUOQ [ C NC VTCFKEKÉP FGEKOQPÉPKEC KPINGUC +PHNWGPEKC FG NC 0QXGNC
*KUVÉTKEC HTCPEGUC GUVWFKQ GURGEKCN FG .C (C[GVVG +ORQTVCPEKC FG NC PQXGNC IÉVKEC [ FG CWVQTGU EQOQ
/CTKC 'FIGYQTVJ 4QOCPVKEKUOQ [ 0QXGNC *KUVÉTKEC 9CNVGT 5EQVV TGEWRGTCEKÉP FGN OWPFQ OGFKGXCN [ ETGCEKÉP FGN $QTFGT %QWPVT[ +PHNWGPEKC FG 5EQVV GP CWVQTGU EQOQ
/TU )CUMGNN )GQTIG 'NKQV Q NCU JGTOCPCU $TQPVÀ 4GEWRGTCEKÉP FG NC VTCFKEKÉP RQRWNCT FG DCNCFCU
[ EWGPVQU .QU CPVKEWCTKQU GN EQNGEEKQPKUOQ [ NC GTWFKEKÉP +PHNWGPEKC FG NC 0QXGNC *KUVÉTKEC GP
CWVQTGU EQOQ 9/ 6JCEMGTC[ %JCTNGU &KEMGPU $WNYGT.[VVQP %JCTNGU 4GCFG %JCTNGU -KPIUN[ )GQTIG 'NKQV 6JQOCU *CTF[ Q /* *GYNGVV .C PWGXC 0QXGNC *KUVÉTKEC /CT[ 4GPCWNV 9KNNKCO
)QNFKPI ,) (CTTGNN .C ETÃVKEC GWTQRGC OCTZKUVC [ GN JKUVQTKEKUOQ CPCNÃVKEQ 2QUVOQFGTPKFCF RCUVKEJG NKVGTCTKQ [ VTCFKEKÉP JKUVÉTKEC 'N HGPÉOGPQ FG NC (CEVKQP (CEV CPF (KEVKQP
%CT±EVGT FG NCU RT±EVKECU
&KUEWUKÉP KPFKXKFWCN [ GP ITWRQ FG NCU NGEVWTCU QDNKICVQTKCU
'XCNWCEKÉP
6TCDCLQU [ GZRQUKEKQPGU QTCNGU GP ENCUG [ WP GZCOGP HKPCN
$KDNKQITCHÃC D±UKEC
1TKIGP [ 'XQNWEKÉP FG NC 0QXGNC *KUVÉTKEC
ŠNXCTG\ 4QFTÃIWG\ 4QO±P
7PKXGTUKFCF FG 5CNCOCPEC
)QUUOCP .KQPGN
*CTXCTF 7PKXGTUKV[ 2TGUU %CODTKFIG /CUU
*CYVJQTP ,GTGO[ GF
'FYCTF #TPQNF .QPFQP *WIJGU *GNGP
4QWVNGFIG .QPFQP .GXKPG )GQTIG
7PKXGTUKV[ QH %JKECIQ 2TGUU /CECPFTGY 'NKUCDGVJ
%QNWODKC 7PKXGTUKV[ 2TGUU 0; /CEGYCP 0GKN
/CEOKNNCP .QPFQP 4C[ 9KNNKCO
$CUKN $NCEMYGNN %CODTKFIG /CUU 5CPFGTU #PFTGY
/CEOKNNCP .QPFQP ,QJPUQP 'FICT
XQNU # $KQITCRJ[
%TCYHQTF 6
&GXNKP && GF
&CKEJGU &CXKF 5EQVVU CEJKGXGOGPV CU C PQXGNKUV KP
)QTFQP 5 5VGYCTV 9CXGTNG[ CPF VJG 7PKHKGF &GUKIP KP
$GVYGGP *KUVQT[ CPF .KVGTCVWTG
6JG 0KPGVGGPVJ %GPVWT[ $TKVKUJ 0QXGN
6JG *KUVQTKECN 4QOCPEG
6JG 4GCNKUVKE +OCIKPCVKQP
6JG )QVJKE 6TCFKVKQP KP (KEVKQP
2GTURGEVKXGU KP $TKVKUJ *KUVQTKECN (KEVKQP 6QFC[
5VQT[ CPF *KUVQT[
6JG 8KEVQTKCP *KUVQTKECN 0QXGN 5KT 9CNVGT 5EQVV VJG )TGCV 7PMPQYP
9CNVGT 5EQVV
9CNVGT 5EQVV /QFGTP ,WFIGOGPVU
0KPGVGGPVJ %GPVWT[ (KEVKQP
'PINKUJ .KVGTCT[ *KUVQT[
#UKIPCVWTC
+PIN¾U OGFKQ
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
'N EWTUQ RTGVGPFG HCOKNKCTK\CT CN GUVWFKCPVG EQP GN RGTKQFQ EQORTGPFKFQ GPVTG NQU UU :++ [ :8
FG NC NGPIWC KPINGUC C VTCX¾U FG UWU VGZVQU O±U TGRTGUGPVCVKXQU 2CTC OGLQT CRTQXGEJCOKGPVQ FGN EWTUQ
UG CEQPUGLC JCDGT EWTUCFQ RTGXKCOGPVG NC CUKIPCVWTC
XGT R±I +PVTQFWEEKÉP CN KPIN¾U CPVKIWQ
%QPVGPKFQ
&GUETKREKÉP FG NQU TCUIQU HQPQNÉIKEQU OQTHQUKPV±EVKEQU N¾ZKEQU [ GUVKNÃUVKEQU RTQRKQU FGN KPIN¾U
OGFKQ C RCTVKT FGN UKUVGOC NKPIÒÃUVKEQ CPINQUCLÉP
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P GP GN CP±NKUKU NKPIÒÃUVKEQ RTQITGUKXCOGPVG GZJCWUVKXQ FG FKUVKPVQU VGZVQU
FGN RGTKQFQ RTQUC [ RQGUÃC FG ECTCEVGTÃUVKECU FKCNGEVCNGU FKUVKPVCU
'XCNWCEKÉP
'N GZCOGP EQPUKUVKT± GP GN EQOGPVCTKQ O±U Q OGPQU IWKCFQ FG CNIÐP VGZVQ FGN KPIN¾U OGFKQ
UKINQU :++:8 C VTCX¾U FG RTGIWPVCU TGHGTGPVGU C GUVTWEVWTCU FG NQU FKUVKPVQU PKXGNGU NKPIÒÃUVKEQU
$KDNKQITCHÃC D±UKEC
# $QQM QH /KFFNG 'PINKUJ 1ZHQTF $CUKN $NCEMYGNN
/QUU¾ ( *CPFDQQM QH /KFFNG 'PINKUJ 6JG ,QJP *QRMKPU 72
$WTTQY , 6WTXKNNG2GVTG 6 #UKIPCVWTC
+PPQXCEKÉP [ GZRGTKOGPVCEKÉP GP NC HKEEKÉP PQTVGCOGTKECPC CEVWCN
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK
%KENQ

1DLGVKXQU
'ZRNQTCT GN RTQEGUQ FG GZRGTKOGPVCEKÉP [ TGPQXCEKÉP FG NC HKEEKÉP PQTVGCOGTKECPC FG NCU
ÐNVKOCU EWCVTQ F¾ECFCU .GGT QDTCU [ VGZVQU PCTTCVKXQU SWG TGXGNGP NC TKSWG\C FG GUVG RTQEGUQ UW
XCTKGFCF [ EQORNGLKFCF
%QPVGPKFQU
8GPFT±P FGVGTOKPCFQU RQT NC UGNGEEKÉP FG ENCXGU GNGIKFCU NQU GZVTGOQU FGN TGCNKUOQ [ UW
TGIGPGTCEKÉP NC EKGPEKC HKEEKÉP NC OGVC HKEEKÉP GN TGRQTVCLG NKVGTCTKQ ETGCVKXG YTKVKPI GN HGOKPKUOQ
GN TGIKQPCNKUOQ OWNVKEWNVWTCNKUOQ [ QVTQU HTGPVGU FG ETGCEKÉP NKVGTCTKC .C UGNGEEKÉP [ CITWRCOKGPVQ
FG QDTCU FGDG JCEGT XKUKDNG NC EQORNGLKFCF FG NC RTQFWEEKÉP PCTTCVKXC CEVWCN [ UWU FKXGTUCU QREKQPGU
2T±EVKECU
%QORTGPFGT± GUVWFKQ EQPETGVQ FG VGZVQU GP NC ENCUG [ NC TGCNK\CEKÉP FG GZ±OGPGU [ VTCDCLQU FG
KPXGUVKICEKÉP
'XCNWCEKÉP
6TCDCLQU [ GZRQUKEKQPGU QTCNGU GP ENCUG [ WP GZCOGP HKPCN
$KDNKQITCHÃC D±UKEC
$G[QPF VJG 9CUVGNCPF ;CNG 7PKX 2TGUU (TGFGTKE -CTN #OGTKECP (KEVKQPU *CTRGT CPF 4QY %JCTNGU %CTCOGNQ 5KNXGTNGU /KTTQTU 7PKX QH (NQTKFC 2TGUU .CTT[ /E%CHHGT[ 6JG /GVCHKEVKQPCN /WUG 6JG 7PKXGTUKV[ QH 2KVVUDWTIJ 2TGUU /KEMG[ 2GCTNOCP 'F #OGTKECP 9QOGP 9TKVKPI (KEVKQP 7PKX QH -GPVWEM[
%CVJGTKPG 4CKPYCVGT 9KNNKCO , 5EJGKEM 'F %QPVGORQTCT[ #OGTKECP 9QOGP 9TKVGTU 7PKX 1H
4C[OQPF / 1NFGTOCP
-GPVWEM[ 2TGUU .CTT[ /E%CHHGT[ 6QO .G %NCKT GFVU
#P[VJKPI %CP *CRRGP 7PKX QH +NNKPQKU 2TGUU #UKIPCVWTC
+PVTQFWEEKÉP CN KPIN¾U CPVKIWQ
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
'N EWTUQ RTGVGPFG HCOKNKCTK\CT CN GUVWFKCPVG EQP GN RGTKQFQ CPINQUCLÉP FGUFG NC RGTURGEVKXC
NKPIÒÃUVKEC
$TGXG FGUETKREKÉP FGN EQPVGPKFQ
'N EWTUQ TGCNK\CT± WP CP±NKUKU FG NCU FKXGTUCU HWGPVGU FKTGEVCU G KPFKTGEVCU FG SWG FKURQPG GN
NKPIÒKUVC RCTC TGCNK\CT UWU JKRÉVGUKU 'P ¾N UG FGHKPKT± GN OCTEQ UQEKQEWNVWTCN FG RTQFWEEKÉP NKPIÒÃUVKEC
[ UG FGUETKDKT±P KIWCNOGPVG NQU RTKPEKRCNGU TCUIQU HQPQNÉIKEQU OQTHQUKPV±EVKEQU [ N¾ZKEQU FGN KPIN¾U
CPVKIWQ 5G TGCNK\CT±P RQT ÐNVKOQ CP±NKUKU [ VTCFWEEKQPGU FG VGZVQU TGRTGUGPVCVKXQU FGN RGTKQFQ VCPVQ
FG RTQUC EQOQ FG RQGUÃC
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P GP GN CP±NKUKU RTQITGUKXCOGPVG GZJCWUVKXQ FG VGZVQU CPINQUCLQPGU
'XCNWCEKÉP
'N GZCOGP RQFT± KPENWKT RTGIWPVCU TGNCVKXCU CN GPVQTPQ UQEKQEWNVWTCN CPINQUCLÉP CFGO±U FGN
EQOGPVCTKQ FG WP VGZVQ Q FG GUVTWEVWTCU ECTCEVGTÃUVKECU FGN OKUOQ
$KDNKQITCHÃC D±UKEC
5G TGEQOKGPFC GN WUQ FG NQU UKIWKGPVGU NKDTQU
# IWKFG VQ 1NF 'PINKUJ 1ZHQTF $ $NCEMYGNN
/KVEJGNN $ #P KPXKVCVKQP VQ 1NF 'PINKUJ CPF #PINQ5CZQP 'PINCPF 1ZHQTF $NCEMYGNN
/KVEJGNN $ 4QDKPUQP ( #UKIPCVWTC
+PXGUVKICEKÉP [ HWGPVGU DKDNKQIT±HKECU FG NC NKVGTCVWTC CPINQPQTVGCOGTKECPC
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK
%KENQ
Q
1DLGVKXQU
&CT C EQPQEGT CN CNWOPQ NC OGVQFQNQIÃC FG NC KPXGUVKICEKÉP [ FGN GUVWFKQ FG NCU NKVGTCVWTCU
KPINGUC [ PQTVGCOGTKECPC C VTCX¾U FG NQU FKUVKPVQU CEGTECOKGPVQU CN VGZVQ NKVGTCTKQ C UW JKUVQTKC [ C UWU
TGEWTUQU DKDNKQIT±HKEQU
%QPVGPKFQ
&GUCTTQNNCT GP WP EWTUQ EWCVTKOGUVTCN NCU UKIWKGPVGU HCUGU FG GUVWFKQ C VTCX¾U FGN CP±NKUKU FG
XCTKCU QDTCU [ NC RTQRWGUVC FG WP VTCDCLQ FG KPXGUVKICEKÉP UQDTG GNNCU
.C GZRGTKGPEKC NKVGTCTKC GP GN GUVWFKQ FG NCU NKVGTCVWTCU KPINGUC [ PQTVGCOGTKECPC /QVKXCEKQPGU
RTGUWRWGUVQU [ GZRGEVCEKQPGU
'N GPEWGPVTQ EQP GN VGZVQ &KHGTGPVGU HQTOCU FG NGEVWTC FG FGUETKREKÉP [ FG CP±NKUKU %QORCTCEKÉP
FG CRTQZKOCEKQPGU [ O¾VQFQU 'NGEEKÉP FG XCTKQU VGZVQU W QDTCU
'N VGZVQ FGPVTQ FG NC JKUVQTKC NKVGTCTKC 4GEQPQEKOKGPVQ FG EQPXGPEKQPGU VTCFKEKQPGU CITWRCOKGPVQU
IGP¾TKEQU [ GUVKNÃUVKEQU ETKVGTKQU JKUVÉTKEQU ENCUGU FG NGEVQTGU [ HQTOCU FG KPVGTRTGVCEKÉP
.C KPKEKCEKÉP C NC KPXGUVKICEKÉP NKVGTCTKC /GVQFQNQIÃC &QEWOGPVCEKÉP EQPUWNVC FG HWGPVGU [
TGHGTGPEKCU DKDNKQIT±HKECU [ GNCDQTCEKÉP FGN GPUC[Q ETÃVKEQ
%CT±EVGT FG NCU RT±EVKECU
'N CNWOPQ FGDG TGCNK\CT CN OGPQU WP VTCDCLQ FG KPXGUVKICEKÉP UQDTG NCU QDTCU Q VGZVQU HKLCFQU
FG CPVGOCPQ 'P NC ENCUG FGDGP JCEGTUG GLGTEKEKQU UQDTG HQTOCU FG NGGT GN VGZVQ [ DÐUSWGFC FG
TGHGTGPEKCU EQPUWNVC [ GNCDQTCEKÉP FG NCU HCUGU FG EQORQUKEKÉP ETÃVKEC
$KDNKQITCHÃC D±UKEC
6JG %JKECIQ /CPWCN QH 5V[NG 7PKX QH %JKECIQ 2TGUU 4KEJCTF & #NVKEM 6JG #TV QH .KVGTCT[ 4GUGCTEJ 0QTVQP -CVG . 6WTCDKCP # /CPWCN HQT 9TKVGTU QH 6GTO 2CRGTU 6JGUKU CPF &KUUGTVCVKQPU 7PKX QH %JKECIQ
2TGUU .CPIWCIG .KVGTCVWTG CPF %TKVKECN 2TCEVKEG 4QWVNGFIG #NCP &WTCPV 0KIGN (CDD GF .KVGTCT[ 5VWFKGU KP #EVKQP
/GGM / .GCTPKPI VQ 4GCF .QPFQP 6JG $QFNG[ *GCF %CTVGT 4 # $WTVQP ' GFU .KVGTCT[ 6GZVU CPF .CPIWCIG 5VWF[ .QPFQP #TPQNF &CXKF $KTEJ
#UKIPCVWTC
.GPIWC GUV±PFCT [ PQTOCVKXC GP NC JKUVQTKC FG NC NGPIWC KPINGUC
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
'N EWTUQ RTGVGPFG GZRQPGT NC VTC[GEVQTKC FG NC CEVKXKFCF PQTOCVKXC FGUCTTQNNCFC C NQ NCTIQ FG
NC JKUVQTKC FG NC NGPIWC KPINGUC CUÃ EQOQ WP CP±NKUKU IGPGTCN FG NQU FKHGTGPVGU GUV±PFCTGU KFGPVKHKECDNGU
GP NC OKUOC 2QT QVTC RCTVG UG RQFT± QHTGEGT WP RCPQTCOC IGPGTCN FG NC CEVKXKFCF PQTOCVKXC UWTIKFC
TGEKGPVGOGPVG GP QVTQU RCÃUGU FG JCDNC KPINGUC 'N EWTUQ RQT UW RTQRKC PCVWTCNG\C RTGVGPFG UGTXKT FG
KPUVTWOGPVQ C QVTCU OCVGTKCU FG NKVGTCVWTC Q FG EWNVWTC O±U CORNKCU KPENWKFCU GP GN 2NCP FG 'UVWFKQU
%QPVGPKFQ
'N EWTUQ CDQTFCT± FG OCPGTC IGPGTCN Q OQPQIT±HKEC NC CEVKXKFCF PQTOCVKXC FGUCTTQNNCFC GP
FKHGTGPVGU RGTKQFQU FG NC JKUVQTKC FG NC NGPIWC KPINGUC EQP WP CP±NKUKU FG NQU HCEVQTGU SWG JCP KPVGTXGPKFQ
GP NC OKUOC 2CTC GNNQ UG TGXKUCT±P NQU EQPEGRVQU HWPFCOGPVCNGU FG NC CEVKXKFCF KPXGUVKICFQTC TGCNK\CFC
GP GUVG VGTTGPQ
%CT±EVGT FG NCU RT±EVKECU
5G EQOGPVCT±P VGZVQU KPINGUGU FG FKHGTGPVGU ¾RQECU SWG CDQTFGP EWGUVKQPGU PQTOCVKXCU CUÃ
EQOQ VGZVQU UGNGEEKQPCFQU UQDTG GN VGOC
'XCNWCEKÉP
5G GXCNWCT±P NQU VTCDCLQU [ RT±EVKECU TGCNK\CFCU C NQ NCTIQ FGN EWTUQ 5G TGCNK\CT± WP GZCOGP
HKPCN EQP RTGIWPVCU FG GZVGPUKÉP XCTKCDNG
$KDNKQITCHÃC D±UKEC
# JKUVQT[ QH VJG 'PINKUJ NCPIWCIG .QPFQP /E/KNNCP
.GKVJ & # UQEKCN JKUVQT[ QH 'PINKUJ .QPFQP 4QWVNGFIG
/KNTQ[ , #WVJQTKV[ KP NCPIWCIG 4QWVNGFIG
$NCMG 0 #UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%KENQ
.KPIÒÃUVKEC EQORWVCEKQPCN
1RVCVKXC

1DLGVKXQU
(COKNKCTK\CT CN CNWOPQ EQP NQU HWPFCOGPVQU FG NC NKPIÒÃUVKEC EQORWVCEKQPCN Q RTQEGUCOKGPVQ
FGN NGPIWCLG PCVWTCN GP UWU CURGEVQU UKPV±EVKEQU UGO±PVKEQU [ RTCIO±VKEQFKUEWTUKXQU
2TGUGPVCT FKHGTGPVGU JGTTCOKGPVCU FG WVKNKFCF RCTC GN RTQEGUCOKGPVQ FGN NGPIWCLG CUÃ EQOQ
CNWIWPC FG UWU CRNKECEKQPGU
%QPVGPKFQ
+PVTQFWEVKQP VQ VJG HKGNF QH %QORWVCVKQPCN .KPIWKUVKEU CPF TGNCVGF CTGCU
(WPFCOGPVCN EQPEGRVU KP RCTUKPI
#WIOGPVGF VTCPUKVKQP PGVYQTMU
7PKHKECVKQP
5GOCPVKEU CPF -PQYNGFIG 4GRTGUGPVKQP
)TCOOCTU
)GPGTCNK\GF 2JTCUG 5VTWEVWTG )TCOOCT .GZKECN (WPEVKQPCN )TOOCT 5[UVGOKE )TCOOCT
(WPFCOGPVCN EQPEGRVU KP IGPGTCVKQP
5GPVGPEG IGPGTCVKQP
6GZV CPF UGPVGPEG RNCPPKPI
%QORWVGT 6QQNU CPF #RRNKECVKQPU
%QORWVGT %QTRQTC
%QORWVGTCUUKUVGF 6GZV 2TQEGUUKPI
%QORWVGT CPF FKEVKQPCTKGU
/CEJKPG 6TCPUNCVKQP
5RGGEJ 5[PVJGUKU
%CT±EVGT FG NCU RT±EVKECU
5G TGCNK\CT±P GLGTEKEKQU GP ENCUG CRNKECPFQ NQU EQPEGRVQU VGÉTKEQU C GLGORNQU EQPETGVQU FG
HQTOC SWG GN CNWOPQ UG HCOKNKCTKEG EQP NC FKUEKRNKPC [ FGUCTTQNNG UW GURÃTKVW ETÃVKEQ #UKOKUOQ UG
RTGUGPVCT±P CNIWPQU RTQITCOCU [
GURGEÃHKEQ
UQHVYCTG
'XCNWCEKÉP
5G TGCNK\CT± FG HQTOC EQPVKPWCFC OGFKCPVG NC CUKIPCEKÉP FG VTCDCLQU TGHGTKFQU C ECFC WPQ FG
NQU RWPVQU FGN RTQITCOC
$KDNKQITCHÃC
0CVWTCN .CPIWCIG 7PFGTUVCPFKPI
%JCNNGPIGU KP 0CVWTCN .CPIWCIG 2TQEGUUKPI
%QORWVGTU CPF 9TKVVGP 6GZVU
0CVWTCN .CPIWCIG 2TQEGUUKPI KP .+52 #P +PVTQFWEVKQP VQ
%QORWVCEKQPCN .KPIWKUVKEU
%QORWVCEKQPCN CPF %QPXGTUCVKQPCN &KUEQWTUG
%QORWVGTU CPF *WOCP .CPIWCIG
#NNGP ,( $GPLCOKPU %WOOKPIU /GPNQ 2CTM
$CVGU / CPF 9GKUEJGFGN 4/ %72
$WVNGT %5 $NCEMYGNN
)C\FCT ) CPF /GNNKUJ % #FFKUQP9GUNG[ 2WDNKUJKPI %QORCP[
*QX[ '* CPF 5EQVV & 5RTKPIGT8GTNCI
5OKVJ ) 1ZHQTF 7PKXGTUKV[ 2TGUU
#UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%KENQ
.KVGTCVWTC CPINQKTNCPFGUC
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK C GUEQIGT HTGPVG C

FKGPUG
.KVGTCVWTC CPINQECPC
1DLGVKXQU
'N QDLGVKXQ FG GUVC CUKIPCVWTC UGT± KPVTQFWEKT CN CNWOPQ GP GN GUVWFKQ FG NC NKVGTCVWTC CPINQ
KTNCPFGUC GP UW EQPLWPVQ 5G UWDTC[CT± GN EQPVGZVQ UQEKQJKUVÉTKEQ GURGEÃHKEQ GP GN SWG UWTIGP NQU
FKHGTGPVGU VGZVQU
%QPVGPKFQ
'N EWTUQ CDQTFCT± FG OCPGTC RCPQT±OKEC NQU FKXGTUQU I¾PGTQU NKVGTCTKQU [ RTKPEKRCNGU CWVQTGU
FG ECFC WPQ 'PVTG QVTQU
2QGUÃC 9KNNKCO $WVNGT ;GCVU 2CVTKEM -CXCPCIJ 5GCOWU *GCPG[ &TCOC 9KNNKCO %QPITGXG 1NKXGT
)QNFUOKVJ 4KEJCTF $TKPUNG[ 5JGTKFCP 1UECT 9KNFG )GQTIG $GTPCTF 5JCY 5GCP 1%CUG[ ,QJP /
5[PIG 5COWGN $GEMGVV 2TQUC ,COGU ,Q[EG .KCO (NCJGTV[ (TCPM 1%QPPQT -CVG 1$TKGP 'NK\CDGVJ
$QYGP /QNN[ -GCPG 4QFF[ &Q[NG /CTKC 'FIGYQTVJ $TGPFCP $GJCP
%CT±EVGT FG NCU RT±EVKECU
%QOGPVCTKQ GURGEÃHKEQ FG CN OGPQU EKPEQ FG NCU QDTCU UGNGEEKQPCFCU 5G TGHNGZKQPCT± UQDTG NQU
FKUVKPVQU GPHQSWGU ETÃVKEQU [ UG HQOGPVCT± GN FGDCVG
'XCNWCEKÉP
.QU O¾VQFQU FG GXCNWCEKÉP RQFT±P EQORTGPFGT FGUFG NC GNCDQTCEKÉP FG VTCDCLQU [Q
GZRQUKEKQPGU GP ENCUG JCUVC GZ±OGPGU FQPFG GN CNWOPQ GZRQPFT± NQU EQPQEKOKGPVQU VGÉTKEQU CFSWKTKFQU
[ TGCNK\CT± WP EQOGPVCTKQ FG CNIWPQ
U FG NQU VGZVQU NGÃFQU
.GEVWTCU UWIGTKFCU
6JG %QORNGVG &TCOCVKE 9QTMU
6JG 3WCTG (GNNQY
0QTVG
&WDNKPGTU
(KXG )TGCV +TKUJ 2NC[U
'UC FCOC
6JTGG 2NC[U ,WPQ CPF VJG 2C[EQEM 6JG 5JCFQY QH C )WPOCP 6JG 2NQWIJ CPF VJG 5VCTU
6JG 2NC[U
# 6CNG QH VJG 6WD 6JG $CVVNG QH VJG DQQMU CPF QVJGT UCVKTGU
%QNNGEVGF 2NC[U
6JG +ORQTVCPEG QH $GKPI 'CTPGUV CPF QVJGT 2NC[U
6JG %QNNGEVGF 2NC[U
#PVQNQIÃC DKNKPIWG
$KDNKQITCHÃC IGPGTCN
%CTPG[ , 5VWFKGU KP +TKUJ .KVGTCVWTG CPF *KUVQT[ &WDNKP +PUVKVWVG HQT #XCPEGF 5VWFKGU 'NNOCP 4 %WCVTQ FWDNKPGUGU 9KNFG ;GCVU ,Q[EG $GEMGVV 6TCF #PVQPKQ 2TQOGVGQ /Q[C
$CTEGNQPC 6WUSWGVU (KV\ 5KOQP % 6JG +TKUJ 6JGCVTG .QPFQP 6JCOGU *WFUQP )NQFCIJ $ * %QPVGORQTCT[ +TKUJ 6TCFKVKQPCN 0CTTCVKXG VJG 'PINKUJ NCPIWCIG VTCFKVKQP $GTMGNG[
7PKXGTUKV[ QH %CNKHQTPKC 2TGUU 1TT , 6TCIKE FTCOC CPF OQFGTP UQEKGV[ UVWFKGU KP VJG UQEKCN CPF NKVGTCT[ VJGQT[ QH FTCOC HTQO VQ VJG RTGUGPV .QPFQP /CEOKNNCP 9KNNKCO ,' 6JG +TKUJ .KVGTCT[ 6TCFKVKQP %CTFKHH 7PKXGTUKV[ QH 9CNGU 2TGUU 9QTVJ - 6JG +TKUJ &TCOC QH 'WTQRG HTQO ;GCVU VQ $GEMGVV 6JG #VJNQPG 2TGUU 7PKXGTUKV[ QH
$GEMGV 5
.QPFQP (CDGT CPF (CDGT $GJCP $
6TCF #PC #PVÉP 2CEJGEQ /CFTKF %WCFGTPQU RCTC GN FK±NQIQ *GCPG[ 5
6TCFWEEKÉP DKNKPIWG FG / #TFCPC\ *KRGTKÉP [ ,Q[EG ,
4QDGTV 5EJQNGU GF .QPFQP )TCPCFC 0CVJCP ), GF
6JG /QFGTP .KDTCT[ 0GY ;QTM 1$TKGP -
$CTEGNQPC 'FJCUC 1%CUG[ ,
.QPFQP 2CP $QQMU 5JGTKFCP 4$
.QPFQP 1ZHQTF 7PKXGTUKV[ 2TGUU 5YKHV ,
.QPFQP &GPV CPF 5QPU 5[PIG ,/
2GPIWKP 9KNFG 1
.QPFQP 2GPIWKP ;GCVU 9$
.QPFQP 2CRGTOCE ;GCVU 9$
6TCF 'PTKSWG %CTCPKQNQ 6TGLQ /CFTKF #NKCP\C .QPFQP $KDNKQITCHÃC GURGEÃHKEC
5G KPFKECT± GP ENCUG
#UKIPCVWTC
.KVGTCVWTC FG OKPQTÃCU GP 'UVCFQU 7PKFQU
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK
%KENQ

1DLGVKXQU
+PVTQFWEKT CN CNWOPQ GP NC HQTOCEKÉP FG NC JKUVQTKC NKVGTCTKC PQTVGCOGTKECPC C RCTVKT FG NCU
FKXGTUCU VTCFKEKQPGU EWNVWTCNGU [ ¾VPKECU FKHGTGPEKCFCU 'N EWTUQ GPVTCÇC CDQTFCT GN RTQDNGOC FGN
OWNVKEWNVWTCNKUOQ [ GN GUVWFKQ GURGEÃHKEQ FG NC VTCFKEKÉP CHTQCOGTKECPC
%QPVGPKFQ
4CÃEGU FG NC VTCFKEKÉP CHTQCOGTKECPC QTCNGU [ GUETKVCU 2TKOGTCU PCTTCEKQPGU [ TGNCVQU FG
GUENCXKVWF ( &QWINCUU
'N KORWNUQ FGN TGPCEKOKGPVQ FG *CTNGO [ NC PWGXC EQPEKGPEKC TCEKCN 6QQOGT /E-C[ .
*WIJGU %WNNGP *WTUVQP
'N EQORTQOKUQ FG NC PCEKGPVG GUV¾VKEC %JGUVPWV &WDCT ,QJPUQP 9CUJKPIVQP &W $QKU
'N NGICFQ PCVWTCNKUVC [ OÃVKEQ 9TKIJV 'NNKUQP $CNFYKP
/QXKOKGPVQU RQNÃVKEQU [ UQEKCNGU FG NQU UGUGPVC [ UGVGPVC #NVGTPCVKXCU GZRGTKOGPVCNGU GP VGCVTQ
RQGUÃC [ HKEEKÉP 'N RQFGT PGITQ .CU PWGXCU GUETKVQTCU 9CNMGT /QTTKUQP 0C[NQT 5JPCIG
6% $CODCTC
.C HKEEKÉP O±U GZRGTKOGPVCN &GNCPG[ 9KFGOCP 4GGF $CMCTC
'XCNWCEKÉP
2TGUGPVCEKQPGU GP ENCUG RGTUQPCNK\CFCU [ FGDCVKFCU 'ZCOGP INQDCN
6GZVQU D±UKEQU FG NGEVWTC
0CTTCVKXG QH VJG NKHG QH ( &QWINCUU
<QTC 0GCN *WTUVQP 6JGKT '[GU YGTG YCVEJKPI )QF
4CNRJ 'NNKUQP +PXKUKDNG /CP
4KEJCTF 9TKIJV $NCEM $Q[
6QP[ /QTTKUQP 5QPI QH 5QNQOQP
#NKEG 9CNMGT /GTKFKCP
+UJOCGN 4GGF /WODQ ,WODQ
( &QWINCUU
$KDNKQITCHÃC D±UKEC
(TQO $GJKPF VJG 8GKN # 5VWF[ QH CHTQCOGTKECP 0CTTCVKXG %JKECIQ $CMGT 6JG ,QWTPG[ $CEM +557'5 +0 $.#%- .KVGTCVWTG CPF %TKVKEKUO 7PKXGTUKV[ QH
5VGRVQ 4QDGTV $
*QWUVQP
%JKECIQ 2TGUU /KEJCGN *CTRGT 4QDGTV $ 5VGRVQ
(KUJGT &GZVGT CPF 4QDGTV 5VGRVQ
/.# 'TKE , 5WPFSWKUV
%JCPV QH 5CKPVU 7 QH +NNKPQKU 2 #HTQCOGTKECP .KVGTCVWTG VJG TGEQPUVTWEVKQP QH +PUVTWEVKQP 0;
6Q YCMG VJG PCVKQPU 4CEG KP VJG OCMKPI QH #OGTKECP .KVGTCVWTG *CTXCTF 72
#UKIPCVWTC
/GVQFQNQIÃC FG NC KPXGUVKICEKÉP NKPIÒÃUVKEC KPINGUC
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNKFCF 10'K
%KENQ
Q
1DLGVKXQU
(COKNKCTK\CT CN CNWOPQ EQP NQU RTKPEKRKQU D±UKEQU FG NC KPXGUVKICEKÉP UWU V¾EPKECU [ O¾VQFQU
'UVWFKCT NCU HQTOCU CECF¾OKECU FG RTGUGPVCEKÉP FG TGUWNVCFQU
%QPVGPKFQ
'UVWFKQ FG NQ SWG UKIPKHKEC KPXGUVKICT [ FG NCU VTCFKEKQPGU KPXGUVKICFQTCU GP .KPIÒÃUVKEC (QTOWNCEKÉP FG RTGIWPVCU G JKRÉVGUKU FG KPXGUVKICEKÉP 4GXKUKÉP FG NC NKVGTCVWTC [ GNCDQTCEKÉP FG WP
OCTEQ VGÉTKEQ RCTC NC KPXGUVKICEKÉP 4GEQRKNCEKÉP [ QTICPK\CEKÉP FG NQU FCVQU #P±NKUKU EWCNKVCVKXQ
FKHGTGPVGU VKRQU GUVWFKQU FG EQTRWU GUVWFKQU FG ECUQU CP±NKUKU FKUEWTUKXQ CP±NKUKU KPVGTCEEKQPCN GVE
#P±NKUKU EWCPVKVCVKXQ VCDNCU [ IT±HKEQU FCVQU PWO¾TKEQU [ ECVGIÉTKEQU EQORCTCEKÉP FG HTGEWGPEKCU
RTWGDCU GUVCFÃUVKECU PQRCTCO¾VTKECU EJKEWCFTCFC OGFKCPC -TWUMCNN 9CNNKU +PVGTRTGVCEKÉP FG NQU
TGUWNVCFQU
%CT±EVGT FG NCU RT±EVKECU
.QU CNWOPQU TGCNK\CT±P GLGTEKEKQU RT±EVKEQU C RCTVKT C RCTVKT FG NCU GZRNKECEKQPGU VGÉTKECU
EQPUKUVGPVGU GP FKUGÇCT GUVWFKQU RKNQVQ SWG TGHNGLGP NCU V¾EPKECU FG KPXGUVKICEKÉP GUVWFKCFCU
'XCNWCEKÉP
.C GXCNWCEKÉP UG TGCNK\CT± GP HQTOC EQPVKPWC C NQ NCTIQ FGN EWTUQ [ C VTCX¾U FG NCU RTWGDCU SWG
GN RTQHGUQT EQPUKFGTG QRQTVWPCU RCTC GUVG VKRQ FG CUKIPCVWTC
$KDNKQITCHÃC D±UKEC
'NOGU &) -CPVQYKV\ $* 4QGFKIGT *. 2WDNKUJKPI %QORCP[
4GUGCTEJ /GVJQFU KP 2U[EJQNQI[ 9GUV
2TCEVKECN 4GUGCTEJ 2NCPPKPI CPF &GUKIP 0GY ;QTM /CE/KNNCP
0WPCP & 4GUGCTEJ /GVJQFU KP .CPIWCIG .GCTPKPI %CODTKFIG %72
2KEM 5 .ÉRG\ #. %ÉOQ +PXGUVKICT GP %KGPEKCU 5QEKCNGU /¾ZKEQ 6TKNNCU
.GGF[ 2 & #UKIPCVWTC
/QFGNQU HQPQNÉIKEQU FGN KPIN¾U
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'K
%KENQ

1DLGVKXQU
&GUETKREKÉP FG FKUVKPVQU OQFGNQU VGÉTKEQU FG FGUETKREKÉP HQPQNÉIKEC FGN KPIN¾U EQPVGORQTCPGQ
'N RTKPEKRCN QDLGVKXQ FGN EWTUQ GU SWG GN GUVWFKCPVG NNGIWG C EQPQEGT NQU RTKPEKRCNGU OQFGNQU
HQPQNÉIKEQU FGN KPIN¾U UGC ECRC\ FG VTCPUETKDKT UGEWGPEKCU HÉPKECU DTGXGU FGUFG GN GPHQSWG FG ECFC
OQFGNQ [ NNGIWG C WPC EQORTGUKÉP INQDCN FG NC OCVGTKC
%QPVGPKFQ
'UEWGNC FG 2TCIC
'UVTWEVWTCNKUOQ
%JQOUM[ [ GN RCTCFKIOC IGPGTCVKXKUVC
7PKXGTUCNGU [ ENCUGU PCVWTCNGU 6 8GPGOCPP
2T±EVKECU
.CU RT±EVKECU UG NNGXCT±P C ECDQ RTGHGTGPVGOGPVG GP ITWRQU TGFWEKFQU SWG RGTOKVCP TGCNK\CT
GLGTEKEKQU FG CP±NKUKU [ VTCPUETKREKÉP
'XCNWCEKÉP
$KDNKQITCHÃC D±UKEC
6JG 5QWPF 2CVVGTP QH 'PINKUJ 0GY ;QTM *CTRGT 4QY
,CMQDUQP 4 *CNNG / (WPFCOGPVCNU QH .CPIWCIG .C *C[C /QWVQP
.CFGHQIGF 2 N # %QWTUG KP 2JQPGVKEU .QPFQP *CTEQWTV $TCEG ,QXCPQXKEJ
6TCUM 4. # &KEVKQPCT[ QH 2JQPGVKEU CPF 2JQPQNQI[ .QPFQP 4QWVNGFIG
8GPPGOCP 6
4WNG KPXGTUKQP .KPIWC RR 9QNHTCO 9 ,QJPUQP 4 N 2JQPQNQIKECN #PCN[UKU (QEWU QP #OGTKECP 'PINKUJ 9CUJKPIVQP
%JQOUM[0 *CNNG/ N
&% %GPVGT HQT #RRNKGF .KPIWKUVKEU
#UKIPCVWTC
/QFGNQU HWPEKQPCNGU FG NC ITCO±VKEC KPINGUC
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'K
%KENQ
1DLGVKXQU
&GUETKDKT [ CPCNK\CT NQU RTGUWRWGUVQU VGÉTKEQU O±U UKIPKHKECVKXQU FGN GUVWFKQ FG NC NGPIWC FGUFG
WPC RGTURGEVKXC HWPEKQPCN [ RTQHWPFK\CT GP CNIWPC
U FG NCU GUEWGNCU O±U KORQTVCPVGU GP GUVC EQTTKGPVG
NKPIÒÃUVKEC
%QPVGPKFQU
'N EWTUQ EQPUKUVKT± GP WPC KPVTQFWEEKÉP CN GUVWFKQ FGN HWPEKQPCNKUOQ NKPIÒÃUVKEQ LWPVQ CN GUVWFKQ
O±U FGVCNNCFQ FG CNIWPQ FG NQU UKIWKGPVGU OQFGNQU NKPIÒÃUVKEQU C NC 'UEWGNC FG 2TCIC , (KTDCU D
NC )TCO±VKEC (WPEKQPCN FG 5% &KM E GN HWPEKQPCNKUOQ PQTVGCOGTKECPQ FG 6 )KXÉP [ F NC
)TCO±VKEC 5KUV¾OKEC (WPEKQPCN FG /#- *CNNKFC[
%CT±EVGT FG NCU RT±EVKECU
%QOGPVCTKQ FG NQU EQPVGPKFQU VGÉTKEQU GZRNKECFQU RQT OGFKQ FGN CP±NKUKU FG GLGTEKEKQU [
GLGORNQU KNWUVTCVKXQU [ UW CRNKECEKÉP C HTCIOGPVQU GP NGPIWC KPINGUC
'XCNWCEKÉP
6TCDCLQU GP ITWRQ [Q KPFKXKFWCNGU [ GZCOGP HKPCN
$KDNKQITCHÃC D±UKEC
6JG 6JGQT[ QH (WPEVKQPCN )TCOOCT 2CTV 6JG 5VTWEVWTG QH VJG 5GPVGPEG
&KM 5% &QTFTGEJV (QTKU
#P +PVTQFWEVKQP VQ 5[UVGOKE (WPEVKQPCN .KPIWKUVKEU .QPFQP 2KPVGT
(KTDCU , (WPEVKQPCN 5GPVGPEG 2GTURGEVKXG KP 9TKVVGP CPF 5RQMGP %QOOWPKECVKQP %CODTKFIG
'IIKPU 5W\CPPG 7PKXGTUKV[ 2TGUU
)KXÉP 6 'PINKUJ )TCOOCT # (WPEVKQP$CUGF +PVTQFWEVKQP #OUVGTFCO ,QJP $GPLCOKPU
#UKIPCVWTC
2GTKQFKUOQ [ HKEEKÉP GP NQU 'UVCFQU 7PKFQU
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK
%KENQ
Q
1DLGVKXQU
%QPUKFGTCT NC GXQNWEKÉP FG NCU TGNCEKQPGU GPVTG RGTKQFKUOQ [ HKEEKÉP C NQ NCTIQ FG NC JKUVQTKC
FG 'UVCFQU 7PKFQU EQP GURGEKCN ¾PHCUKU GP GN UKINQ :: 4GRCUCT NQU RTKPEKRCNGU OQXKOKGPVQU
KFGQNÉIKEQU PQTVGCOGTKECPQU FWTCPVG GN UKINQ ::
%QPVGPKFQ
.C CEVKXKFCF RGTKQFÃUVKEC UGIÐP NC JC KFQ TGHNGLCPFQ NC HKEEKÉP PCTTCVKXC COGTKECPC FG /GNXKNNG
C &QUU 2CUUQU [ C $GP *GEJV
5KUVGOCU KFGQNÉIKEQU XKIGPVGU GP NC UQEKGFCF COGTKECPC FGN UKINQ :: [ UW TGHNGLQ VCPVQ GP NC
HKEEKÉP EGPVTCFC GP GN OWPFQ RGTKQFÃUVKEQ EQOQ GP GN FKUEWTUQ RGTKQFÃUVKEQ
.C KPHNWGPEKC FGN FKUEWTUQ RGTKQFÃUVKEQ GP GN FGUCTTQNNQ FGN I¾PGTQ PCTTCVKXQ GP 'UVCFQU
7PKFQU
HKEVKQP
4GNCEKQPGU GPVTG NC RTGPUC UGPUCEKQPCNKUVC [ NC NKVGTCVWTC RQRWNCT
[GNNQY LQWTPCNKUO CPF RWNR
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P GP C RTGUGPVCEKQPGU KPFKXKFWCNGU Q GP ITWRQ D WP RQUKDNG VTCDCLQ GP
ITWRQ UQDTG CNIÐP VGOC RTQRWGUVQ RQT GN RTQHGUQT E WP GZCOGP HKPCN
'XCNWCEKÉP
2CTC NC ECNKHKECEKÉP HKPCN FGN EWTUQ UG VGPFT± GP EWGPVC C NCU RTGUGPVCEKQPGU D GN VTCDCLQ GP
ITWRQ E NC RCTVKEKRCEKÉP GP NCU FKUEWUKQPGU FG ENCUG [ F NC PQVC FGN GZCOGP HKPCN
$KDNKQITCHÃC D±UKEC
6JG PGYURCRGT KP VJG #OGTKECP 0QXGN 6QTTGPVG /QTCNGU /CTVC 6QO 9QNHG 0WGXQ RGTKQFKUOQ PQTVGCOGTKECPQ [ NKVGTCVWTC FG PQ HKEEKÉP
$CTT[ 6JQOCU 'NNKQVV
5WTEQU %KWFCF 4GCN 6JG 0GY ,QWTPCNKUO YKVJ CP CPVJQNQI[ #PCITCOC 0CUJ 9CNVGT .CPIWCIG KP 2QRWNCT (KEVKQP 4QWVNGFIG 0GY ;QTM 9QNHG 6QO
#UKIPCVWTC
'N RQGOC NCTIQ GP NC JKUVQTKC NKVGTCTKC PQTVGCOGTKECPC
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ

1DLGVKXQU
'UVG EWTUQ VKGPG RQT QDLGVQ KPVTQFWEKT CN CNWOPQ GP NC RQGUÃC PQTVGCOGTKECPC C VTCX¾U FG
CSWGNNCU QDTCU SWG JCP UWRWGUVQ WPC ETGCEKÉP FGEKFKFC [ CVTGXKFC FG RTQ[GEVCT WPC RQ¾VKEC CTTCKICFC
GP VGTTKVQTKQU IGQIT±HKEQU G KOCIKPCTKQU PQTVGCOGTKECPQU 'N TGEQTTKFQ FG NCU NGEVWTCU [ FG NC UGNGEEKÉP
ETÃVKEC FG NQU CWVQTGU RTGVGPFG EQPQEGT GUVG RTQ[GEVQ UWU RTGUWRWGUVQU ETGCFQTGU [ UWU TGRGTEWUKQPGU
GP NC RQGUÃC PQTVGCOGTKECPC
%QPVGPKFQ
'N TGEQTTKFQ GZCOKPC
/QOGPVQ [ QTÃIGPGU FG WP RTQ[GEVQ IGPGTCN FG EQJGTGPEKC RCTC NC RQGUÃC PQTVGCOGTKECPC #RQ[Q
GP NC KOCIKPCEKÉP KFÃNKEC FG $[CPV 'OGTUQP [ .QPIHGNNQY 9JKVOCP [ UW
EQOQ RNCPQ
QTKIKPCN [ QTKIKPCTKQ
5QPI QH /[UGNH
.CU XGTUKQPGU XCPIWCTFKUVCU FGN RTQ[GEVQ CPVG NC JKUVQTKC 2QWPF [ 'NKQV #NECPEG [ GZKIGPEKCU FG
NQU
[ FG
%CPVQU
6JG 9CUVG NCPF
4GETGCEKÉP FG NC JKUVQTKC PQTVGCOGTKECPC GP 9KNNKCO %CTNQU 9KNNKCOU 2CVVGTUQP [ 9CNNCEG 5VGXGPU
0QVGU 6QYCTFU C 5WRTGOG (KEVKQP
1VTQU OQFGNQU *CTV %TCPG 6JG $TKFIG [ %JCTNGU 1NUQP 6JG /CZKOWU 2QGOU
2QUKDKNKFCFGU FG NC VTCFKEKÉP GP ,QJP $CTT[OCP &TGCO 5QPIU [ #NNGP )KPUDGTI -CFFKUJ
.C NKUVC FG NGEVWTCU UG EQORQPG FG GZVTCEVQU FG GUVCU EQNGEEKQPGU OGPEKQPCFCU UGNGEEKQPCFCU
FG NC
Q FG QVTCU CPVQNQIÃCU 5G TGEQOKGPFC NC GFKEKÉP FG GUVCU
QDTCU GP
0QTVQP #PVJQNQI[ QH #OGTKECP .KVGTCVWTG
6JG 0GY #OGTKECP .KDTCT[
'XCNWCEKÉP
6TCDCLQU [ GZRQUKEKQPGU QTCNGU GP ENCUG [ WP GZCOGP HKPCN
$KDNKQITCHÃC D±UKEC
/ . 4QUGPVJCN CPF 5CNN[ / )CNN
6JG /QFGTP 2QGVKE 5GSWGPEG 172 # %QJGTGPV 5RNGPFQT 6JG #OGTKECP 2QGVKE 4GPCKUUCPEG %72 $GTPCTF &WHHG[ 2QGVT[ KP #OGTKEC &WMG 72 .QWKU 5KORUQP 6JTGG QP VJG 6QYGT 0; 9KNNKCO /QTTQY /WVNW -QPWV $NCUKPI #OGTKECP 2QGVT[ 6JG 4GVJQTKE QH KVU (QTOU ;CNG 72 #NDGTV )GNRK
#UKIPCVWTC
2QGUÃC OQFGTPKUVC CPINQPQTVGCOGTKECPC
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK
%KENQ
Q
1DLGVKXQU
2TGUGPVCT CN CNWOPCFQ NQU GLGORNQU O±U CFGEWCFQU G KNWUVTCVKXQU FG NCU QDTCU [ CWVQTGU O±U
KORQTVCPVGU RCTC EQORTGPFGT CPCNK\CT [ FGUETKDKT NQU FKHGTGPVGU CURGEVQU FG NC RQGUÃC OQFGTPKUVC CPINQ
PQTVGCOGTKECPC 5G VGPFT±P GP EWGPVC NQU EQPQEKOKGPVQU RTGXKQU FGN CNWOPCFQ CFSWKTKFQU GP EWTUQU
RTGEGFGPVGU ; GP EWCPVQ C NCU QDTCU QDLGVQ FG EQOGPVCTKQ UG GUVWFKCT± NC QRQTVWPKFCF FG CORNKCT GN
TGRGTVQTKQ FG NGEVWTCU FG CWVQTGU EQP NQU SWG [C UG JC[C HCOKNKCTK\CFQ GN CNWOPCFQ Q UG QHTGEGT±P QDTCU
FG CWVQTGU FG NQU SWG CÐP PQ JC[CP NGÃFQ PCFC
%QPVGPKFQ
.C FKUQNWEKÉP FGN UKODQNKUOQ PCVWTCNKUOQ [ GUVGVKEKUOQ 'N EQPVGZVQ GUV¾VKEQ G KPVGNGEVWCN FGN
/QFGTPKUOQ .CU XCPIWCTFKCU +OCIKUOQ [ 8QTVKEKUOQ (WVWTKUOQ 5WTTGCNKUOQ [ 'ZRTGUKQPKUOQ 'N
EQPVGZVQ GWTQRGQ [ COGTKECPQ FGN /QFGTPKUOQ
0QODTGU FG CNIWPCU FG NCU HKIWTCU O±U TGRTGUGPVCVKXCU 65 'NKQV *KNFC &QQNKVVNG /CTKCPPG
/QQTG '\TC 2QWPF 9CNNCEG 5VGXGPU 9KNNKCO %CTNQU 9KNNKCOU 9$ ;GCVU
%CT±EVGT FG NCU RT±EVKECU
.C ÐPKEC RT±EVKEC RQUKDNG FG NC NKVGTCVWTC EQPUKUVG GP NC NGEVWTC RGTUQPCN FG NQU CNWOPQU CU
UGIWKFC FG WP EQOGPVCTKQ ETÃVKEQ GP NCU CWNCU 2WGFGP RTQRQPGTUG XCTKQU OGFKQU RCTC NNGXCT GUVQ C NC
RT±EVKEC HQTOCEKÉP FG ITWRQU FG VTCDCLQ Q GZRQUKEKQPGU KPFKXKFWCNGU Q EQNGEVKXCU
'XCNWCEKÉP
'P WPC CUKIPCVWTC FG EWCVTQ ET¾FKVQU UGT±P UWHKEKGPVGU FQU GZ±OGPGU O±U WP ÐNVKOQ GZCOGP
RCTC SWKGP PQ JWDKGTC CRTQDCFQ CNIWPQ FG NQU CPVGTKQTGU 'P UW ECUQ GN RTQHGUQT RQFT± RTQRQPGT SWG
UG JCIC CNIÐP VTCDCLQ
$KDNKQITCHÃC D±UKEC
6JG 5JCRKPI 5RKTKV
%/ $QYTC 6JG %TGCVKXG 'ZRGTKOGPV
# #NXCTG\
/QFGTPKUO &CXKF &CKEJGU 2QGVT[ CPF VJG /QFGTP 9QTNF # 5VWF[ QH 2QGVT[ KP 'PINCPF 'FYCTF .WEKG5OKVJ GF 2TKOGT QH 'ZRGTKOGPVCN 2QGVT[
/CNEQNO $TCFDWT[ [ ,COGU /E(CTNCPG GFU
#UKIPCVWTC
2UKEQNKPIÒÃUVKEC CRNKECFC C NC NGPIWC KPINGUC
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ

1DLGVKXQU
2TGUGPVCT NQU EQPEGRVQU D±UKEQU FG NC RUKEQNKPIÒÃUVKEC .C CUKIPCVWTC UG EGPVTCT± HWPFCOGPVCN
OGPVG GP NCU VGQTÃCU OQFGTPCU FGN CRTGPFK\CLG [ FG NC RGTEGREKÉP EQP GURGEKCN TGHGTGPEKC C NC TGEGREKÉP
[ RTQFWEEKÉP FG WPC NGPIWC
%QPVGPKFQU
&WTCPVG GN EWTUQ UG JCT± WPC CRTQZKOCEKÉP C NQU UKIWKGPVGU VGOCU
%QPEGRVQU D±UKEQU FG RUKEQNKPIÒÃUVKEC
2UKEQNKPIÒÃUVKEC [ ITCO±VKEC
'N EGTGDTQ [ GN NGPIWCLG
.GPIWCLG [ EQIPKEKÉP
&GUCTTQNNQ NKPIÒÃUVKEQ GP NQU PKÇQU
%QORTGPUKÉP FGN NGPIWCLG JCDNCFQ [ GUETKVQ
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU RQFT±P EQPUKUVKT GP GN CP±NKUKU EQOGPVCFQ UQDTG GUVWFKQU VGÉTKEQU [ GZRGTKOGPVCNGU
TGCNK\CFQU GP GN ECORQ FG NC RUKEQNKPIÒÃUVKEC CUÃ EQOQ GP NC TGCNK\CEKÉP FG VTCDCLQU KPFKXKFWCNGU Q GP
ITWRQU
'XCNWCEKÉP
5G GXCNWCT±P NQU VTCDCLQU [ RT±EVKECU TGCNK\CFCU FWTCPVG GN EWTUQ #UKOKUOQ CN EQOKGP\Q FGN
EWTUQ ECFC RTQHGUQTC FGVGTOKPCT± NQU ETKVGTKQU FG GXCNWCEKÉP QRQTVWPQU
$KDNKQITCHÃC D±UKEC
%NCTM ** CPF ' 8 %NCTM 0GY ;QTM *CTEQWTV
2U[EJQNQI[ CPF .CPIWCIG #P +PVTQFWEVKQP VQ 2UKEQNKPIWKUVKEU
-KPVUEJ 9 CPF 6# XCP &KLM 6QYCTF C OQFGN QH VGZV EQORTGJGPUKQP CPF RTQFWEVKQP GP
RR 2U[EJQNQIKECN 4GXKGY
/CE0GKNN & 2U[EJQNKPIWKUVKEU # 0GY #RRTQCEJ %CODTKFIG *CTRGT CPF 4QY
5NQDKP & 2U[EJQNKPIÒKUVKEU )NGPXKGY +NN 5EQVV (QTGUOCP CPF %Q
#UKIPCVWTC
%T¾FKVQU
%CT±EVGT
%KENQ
.C TGXKUKÉP HGOKPKUVC FG NC JKUVQTKC NKVGTCTKC PQTVGCOGTKECPC
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK
Q
1DLGVKXQU
'N QDLGVKXQ FG GUVC CUKIPCVWTC UGT± KPVTQFWEKT CN CNWOPQ CN GUVWFKQ [ GN CP±NKUKU FG NC VCTGC FG
TGNGEVWTC [ TGXKUKÉP FG NC JKUVQTKC NKVGTCTKC PQTVGCOGTKECPC SWG NC ETÃVKEC HGOKPKUVC GORTGPFKÉ GP NQU CÇQU
UGVGPVC FGUFG UWU RNCPVGOKGPVQU KPKEKCNGU UWU EQPVTKDWEKQPGU CN FGDCVG GP VQTPQ CN ECPQP GP NQU QEJGPVC
[ GN GUVCFQ FG NC EWGUVKÉP CEVWCN 'UVC OCVGTKC KPVGPVCT± TGHNGLCT NCU KORNKECEKQPGU FG NC VGQTÃC [ FG NCU
PWGXCU EQTTKGPVGU [ VGPFGPEKCU GP NC RT±EVKEC FG NC NGEVWTC FG VGZVQU [ GP NC KPENWUKÉP FG EWGUVKQPGU
NKOÃVTQHGU EQP NQU GUVWFKQU FGN I¾PGTQ GP UW O±U CORNKQ UGPVKFQ
%QPVGPKFQ
.C JKUVQTKC NKVGTCTKC PQTVGCOGTKECPC C FGDCVG O¾VQFQU [ CRTQZKOCEKÉP FG NC ETÃVKEC HGOKPKUVC
FGUFG NQU CÇQU UGVGPVC JCUVC GN RTGUGPVG 'N EQPVGZVQ UQEKQEWNVWTCN FG NC NKVGTCVWTC [ NC ETÃVKEC
&GUEWDTKOKGPVQ [ TGGXCNWCEKÉP FG WPC VTCFKEKÉP NKVGTCTKC HGOGPKPC 4GCEEKQPGU EQPVTC GN UGZKUOQ GP
NC JKUVQTKC NKVGTCTKC [ NC KPUVKVWEKÉP CECF¾OKEC .C KPXGUVKICEKÉP EGPVTCFC GP NC GUETKVWTC HGOGPKPC .C
CRGTVWTC JCEKC NC VGQTÃC ETÃVKEC RUKEQUQEKCN [ EWNVWTCN 9QOGPU 5VWFKGU GP GN OCTEQ CECF¾OKEQ [ UW
ECNCFQ UQEKCN %WGUVKQPGU KFGQNÉIKECU RQNÃVKECU [ UW KODTKECEKÉP EQP NC NGEVWTC 2GFCIQIÃC HGOKPKUVC
.QU VTCDCLQU KPKEKCNGU FG -CVG /KNNGVV 2CVTKEKC /G[GT 5RCEMU 'NNGP /QGTU 'NCKPG 5JQYCNVGT 0KPC
$C[O 5CPFTC )KNDGTV 5WUCP )WDCT /CTICTGV *QOCPU #PPKU 2TCVV #PPGVVG -QNQFP[ .C ETÃVKEC
CEVWCN [ NQU PWGXQU VGZVQU KPEQTRQTCFQU CN ECPQP 6GPFGPEKCU GP NC VGQTÃC [ NC NGEVWTC ETÃVKEC GP NQU CÇQU
PQXGPVC 2WDNKECEKQPGU GPUC[QU CPVQNQIÃCU GFKEKQPGU ETÃVKECU TGXKUVCU
%CT±EVGT FG NCU RT±EVKECU
.CU UGUKQPGU RT±EVKECU UG GPHQECT±P JCEKC NC NGEVWTC [ GN EQOGPVCTKQ FG NQU VGZVQU GURGEÃHKEQU
NKVGTCTKQU [ ETÃVKEQU UGNGEEKQPCFQU RCTC GN EWTUQ 5G RTGVGPFG HQOGPVCT NC RCTVKEKRCEKÉP CEVKXC FGN
GUVWFKCPVG RQT OGFKQ FG KPVGTXGPEKQPGU [Q DTGXGU GZRQUKEKQPGU GP ENCUG
'XCNWCEKÉP
.QU O¾VQFQU FG GXCNWCEKÉP RQFT±P EQORTGPFGT FGUFG NC GNCDQTCEKÉP FG VTCDCLQU [Q
GZRQUKEKQPGU GP ENCUG JCUVC GZ±OGPGU SWG KPENW[CP RTWGDCU VGÉTKEQRT±EVKECU
$KDNKQITCHÃC D±UKEC
(GOKPKUV +UUWGU KP .KVGTCT[ 5EJQNCTUJKR
4GEQPUVTWEVKPI 9QOCPJQQF 6JG 'OGTIGPEG QH VJG #HTQ#OGTKECP 9QOCP 0QXGNKUV
$NCEM (GOKPKUV %TKVKEKUO 2GTURGEVKXGU QP $NCEM 9QOGP 9TKVGTU
9QOGP 4CEG CPF %NCUU
6JG 4GUKUVKPI 4GCFGT
6JG 0QTVQP #PVJQNQI[ QH .KVGTCVWTG D[ 9QOGP
/CMKPI C &KHHGTGPEG (GOKPKUV .KVGTCT[ %KTVKEKUO
5GZWCN6GZVWCN 2QNKVKEU (GOKPKUV .KVGTCT[ 6JGQT[
6JG 0GY (GOKPKUV %TKVKEKUO 'UUC[U QP 9QOGP .KVGTCVWTG CPF 6JGQT[
$GPUVQEM 5JCTK GF
$NQQOKPIVQP +PFKCPC 72 %CTD[ *C\GN
0; 1ZHQTF 172 %JTKUVKCP $CTDCTC
0; 2GTICOQP
&CXKU #PIGNC
0; 4CPFQO *QWUG (GVVGTNG[ ,WFKVJ
$NQQOKPIVQP +PFKCPC 72TGUU )KNDGTV 5CPFTC 5WUCP )WDCT
0; 0QTVQP )TGGP )C[NG %QRR¾NKC -CJP
0; /GVJWGP
/QK 6QTKN
.QPFQP /GVJWGP 5JQYCNVGT 'NCKPG GF
0;
2CPVJGQP #UKIPCVWTC
5GO±PVKEC [ EQORNGOGPVCTKGFCF FGN XGTDQ KPIN¾U
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'K
%KENQ

1DLGVKXQU
'N EWTUQ QHTGEGT± CN CNWOPQ WPC DCUG VGÉTKEC [ RT±EVKEC RCTC GN GUVWFKQ GP RTQHWPFKFCF FG NC
UKPVCZKU [ NC UGO±PVKEC FGN XGTDQ
%QPVGPKFQU
5KUVGOCU FG VKGORQ [ CURGEVQ GUVWFKQ FG NQU UKIPKHKECFQU FG NCU HQTOCU XGTDCNGU KPINGUCU UKORNGU [
EQORWGUVCU [ FG NQU CWZKNKCTGU CURGEVWCNGU
5KUVGOC FG OQFCNKFCF GUVWFKQ FG NQU UKIPKHKECFQU FG NQU CWZKNKCTGU OQFCNGU
8GTDQU %CVGPCVKXQU
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P GP EQOGPVCT [ CPCNK\CT GN OC[QT PÐOGTQ RQUKDNG FG HQTOCU XGTDCNGU
[ UWU EQORNGOGPVQU GP QTCEKQPGU [ VGZVQU KNWUVTCVKXQU FG NQU CURGEVQU O±U TGNGXCPVGU FG NC VGQTÃC
'XCNWCEKÉP
+PFGRGPFKGPVGOGPVG FG NQU GLGTEKEKQU TGCNK\CFQU FWTCPVG GN EWCVTKOGUVTG GN CNWOPQ FGDGT±
UWRGTCT WP GZCOGP HKPCN GP GN SWG FGOQUVTCT± UWU EQPQEKOKGPVQU VGÉTKEQU UQDTG NC CUKIPCVWTC [ UW
ECRCEKFCF RCTC RQPGTNQU GP RT±EVKEC GP GN GUVWFKQ UKPV±EVKEQ [ UGO±PVKEQ FG NCU HQTOCU XGTDCNGU [ FG UWU
EQORNGOGPVQU EQTTGURQPFKGPVGU GP VGZVQU EQPETGVQU
$KDNKQITCHÃC D±UKEC
'PINKUJ )TCOOCT # (WPEVKQP $CUGF +PVTQFWEVKQP #OUVGTFCO ,QJP $GPLCOKP
*CNNKFC[ /#- #P +PVTQFWEVKQP VQ (WPEVKQPCN )TCOOCT .QPFQP 'FYCTF #TPQNF
2CNOGT (4 6JG 'PINKUJ 8GTD .QPFQP .QPIOCP
)KXÉP 6 #UKIPCVWTC
5KPVCZKU IGPGTCVKXC FGN KPIN¾U
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNKFCF 10'K
%KENQ
Q
1DLGVKXQU
&GUETKDKT [ CPCNK\CT NC UKPVCZKU KPINGUC FGUFG NC RGTURGEVKXC FG NC )TCO±VKEC )GPGTCVKXC #N
HKPCNK\CT GN EWTUQ UG GURGTC SWG GN CNWOPQC UGC ECRC\ FG EQORTGPFGT NCU PQEKQPGU D±UKECU FG NC VGQTÃC
FG NC GUVTWEVWTC FGN UKPVCIOC NCU VTCPUHQTOCEKQPGU [ NC VGQTÃC FG NC TGEEKÉP [ GN NKICOKGPVQ EQOQ
TGHNGLQ FG NC GXQNWEKÉP FG NC VGQTÃC UKPV±EVKEC IGPGTCVKXC
%QPVGPKFQ
2JTCUG 5VTWEVWTG 6JGQT[
6TCPUHQTOCVKQPU
:$CT 6JGQT[
)QXGTPOGPV CPF $KPFKPI
2TKPEKRNGU CPF 2CTCOGVGTU
%CT±EVGT FG NCU RT±EVKECU
'N EWTUQ GUVCT± DCUCFQ GP GLGTEKEKQU RT±EVKEQU FG FGUETKREKÉP [ CP±NKUKU UKPV±EVKEQU CUÃ EQOQ GP
VTCDCLQU KPFKXKFWCNGU UQDTG PQEKQPGU RWPVWCNGU FG NQU EQPVGPKFQU FKUEWVKFQU GP ENCUG
'XCNWCEKÉP
'XCNWCEKÉP EQPVKPWCFC OGFKCPVG GLGTEKEKQU [Q RTWGDC QDLGVKXC
$KDNKQITCHÃC D±UKEC
+PVTQFWEKPI 6TCPUHQTOCVKQPCN )TCOOCT HTQO TWNGU VQ RTKPEKRNGU CPF
1WJCNNC ,COCN .QPFQP #TPQNF
RCTCOGVGTU
6TCPUHQTOCVKQPCN 5[PVCZ C 5VWFGPVyU )WKFG VQ %JQOUM[yU 'ZVGPFGF 5VCPFCTF
4CFHQTF # %CODTKFIG %72
6JGQT[
4CFHQTF # 6TCPUHQTOCVKQPCN )TCOOCT C (KTUV %QWTUG %CODTKFIG %72
#UKIPCVWTC
'N UQPGVQ KUCDGNKPQ
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
'N EWTUQ SWKGTG RTQRQTEKQPCT WP FQOKPKQ CORNKQ [ RTQHWPFQ FG GUVC HQTOC NÃTKEC HWPFCOGPVCN
GP GN FGUCTTQNNQ FG NC RQGUÃC TGPCEGPVKUVC &GURW¾U FG CVGPFGT C UWU QTÃIGPGU [ C UWU RTKOGTQU RCUQU
GP NC NKVGTCVWTC KPINGUC GN EWTUQ UG EGPVTCT± GP GN GUVWFKQ FG NCU FKUVKPVCU XCTKCPVGU HQTOCNGU [ VGO±VKECU
NQU TGEWTUQU TGUVTKEEKQPGU [ RQUKDKNKFCFGU FG GZRTGUKÉP RQ¾VKEC SWG FGHKPGP GN UQPGVQ KUCDGNKPQ .CU
EQPENWUKQPGU C[WFCT±P C GPVGPFGT UW RGTOCPGPEKC C NQ NCTIQ FG NC JKUVQTKC NKVGTCTKC KPINGUC
%QPVGPKFQ
5G NGGT± WPC UGNGEEKÉP FG UQPGVQU FG NQU RQGVCU KUCDGNKPQU O±U TGRTGUGPVCVKXQU SWG VCODK¾P
RQFT± KPENWKT C UQPGVKUVCU CPVGTKQTGU Q RQUVGTKQTGU 5W NGEVWTC KT± CEQORCÇCFC RQT EQOGPVCTKQU VGÉTKEQU
UQDTG NQU FKUVKPVQU CURGEVQU V¾EPKEQU FG QTFGPCEKÉP FGN EQPVGPKFQ GVE SWG FKUVKPIWGP GN UQPGVQ
%CT±EVGT FG NCU RT±EVKECU
%QP NC GZEGREKÉP FG CSWGNNCU ENCUGU SWG TGSWKGTCP O±U KPHQTOCEKÉP GN EWTUQ RQT UW RTQRKC
EQPHKIWTCEKÉP UG HWPFC GP GN CP±NKUKU [ NC KPVGTRTGVCEKÉP &G OQFQ SWG NC RCTVKEKRCEKÉP CEVKXC GP UWU
OÐNVKRNGU HQTOCU UG XWGNXG KORTGUEKPFKDNG
'XCNWCEKÉP
5G WVKNK\CT±P NQU O¾VQFQU FG GXCNWCEKÉP O±U CFGEWCFQU C NC PCVWTCNG\C [ CN FGUCTTQNNQ FG NC
CUKIPCVWTC
$KDNKQITCHÃC D±UKEC
6TKWORJCN (QTOU 5VTWEVWTCN 2CVVGTPU KP 'NK\CDGVJCP 2QGVT[
(QYNGT #NCUVCKT
72 %CODTKFIG %CODTKFIG
'UUC[U QP 4GPCKUUCPEG 2QGVT[ +VJCEC %QTPGNN 72 .GYCNUMK $CTDCTC 4GPCKUUCPEG )GPTGU 'UUC[U QP 6JGQT[ *KUVQT[ CPF +PVGTRTGVCVKQP %CODTKFIG
*WVVQP ,COGU
/CUU *CTXCTF 72 5JCMGURGCTGU 5QPPGVU .QPFQP )GQTIG #NNGP 7PYKP 5NQCP 6JQOCU & 4C[OQPF $ 9CFFKPIVQP GFU 6JG 4JGVQTKE QH 4GPCKUUCPEG 2QGVT[ HTQO 9[CVV
VQ /KNVQP $GTMGNG[ 7PKXGTUKV[ QH %CNKHQTPKC 2TGUU /WKT -GPPGVJ
#UKIPCVWTC
6GCVTQ PQTVGCOGTKECPQ CEVWCN
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNK\CEKÉP 10'KK
%KENQ

1DLGVKXQU
(COKNKCTK\CT C NQU GUVWFKCPVGU EQP NCU ÐNVKOCU CRQTVCEKQPGU FGN VGCVTQ FG NQU 'UVCFQU 7PKFQU C
RCTVKT FG NC FGUCRCTKEKÉP FG NQU ÐNVKOQU FTCOCVWTIQU RGTVGPGEKGPVGU C NC IGPGTCEKÉP FG OKVCF FG UKINQ
2CTC GNNQ UG CPCNK\CT±P VCPVQ NQU VGZVQU FTCO±VKEQU EQPXGPEKQPCNGU EQOQ NCU CRQTVCEKQPGU FG NQU ITWRQU
[ ETGCFQTGU FG XCPIWCTFKC C HKP FG GUVWFKCT NCU KPVGTTGNCEKQPGU GPVTG CODQU
%QPVGPKFQU
'PVTG GUVQU GUETKVQTGU UG GPEWGPVTCP NCU FQU XQEGU O±U KORQTVCPVGU FGN VGCVTQ PQTVGCOGTKECPQ
CEVWCN 5CO 5JGRCTF [ &CXKF /COGV EW[C QDTC FTCO±VKEC JC UKFQ GUVTGPCFC C RCTVKT FG ,WPVQ
C GUVCU FQU ITCPFGU HKIWTCU UG GUVWFKCT±P /CTKC +TGPG (QTPGU ,QJP )WCTG %JTKUVQRJGT &WTCPI &CXKF
4CDG 4KEJCTF 0GNUQP &CXKF *YCPI $GVJ *GPNG[ /CTUJC 0QTOCP 9GPF[ 9CUUGTUVGKP 0VQ\CMG
5JCPIG [ #WIWUV 9KNUQP
'XCNWCEKÉP
$KDNKQITCHÃC D±UKEC
# %TKVKECN +PVTQFWEVKQP VQ 6YGPVKGVJ%GPVWT[ #OGTKECP &TCOC 8QN $G[QPF
$TQCFYC[ %CODTKFIG 7PKXGTUKV[ 2TGUU /QFGTP #OGTKECP &TCOC %CODTKFIG 7PKXGTUKV[ 2TGUU %QJP 4WD[ 0GY #OGTKECP &TCOCVKUVU /CEOKNNCP .QPFQP 5JCPM 6JGQFQTG #OGTKECP #NVGTPCVKXG 6JGCVTG /CEOKNNCP .QPFQP $KIUD[ %9'
.GEVWTCU
5KUVGT /CT[ +IPCVKWU 'ZRNCKP +V #NN HQT ;QW KP /%0#/#4# $TQQMU 2NC[U
HTQO VJG %QPVGORQTCT[ #OGTKECP 6JGCVGT 0GY #OGTKECP .KDTCT[ 0GY ;QTM *GPNG[ $GVJ %TKOGU QH VJG *GCTV KP /%0#/#4# $TQQMU 2NC[U HTQO VJG %QPVGORQTCT[ #OGTKECP
6JGCVGT
/COGV &CXKF 5GZWCN 2GTXGTUKV[ KP %JKECIQ CPF #OGTKECP $WHHCNQ GP 2NC[U 1PG /GVJWGP .QPFQP
1NGCPPC /GVJWGP .QPFQP 0QTOCP /CTUJC PKIJV /QVJGT 0GY ;QTM 4CDG &CXKF 5VTGCOGTU KP /%0#/#4# $TQQMU 2NC[U HTQO VJG %QPVGORQTCT[ #OGTKECP 6JGCVTG
5JCPIG 0VQ\CMG (QT EQNQTGF IKTNU YJQ JCXG EQPUKFGTGF UWKEKFGYJGP VJG TCKPDQY KU GPWH 0GY ;QTM
&74#0) %JTKUVQRJGT
6TWG 9GUV $WTKGF %JKNF CPF 6JG %WTUG QH VJG 5VCTXKPI %NCUU KP 5GXGP 2NC[U $CPVCO
5JGRCTF 5CO
$QQMU 0GY ;QTM #UKIPCVWTC
6¾EPKECU FG VTCFWEEKÉP RQ¾VKEC FG VGZVQU KPINGUGU
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
2CTVKGPFQ FGN RTKPEKRKQ FG SWG VQFC NGEVWTC KORNKEC WPC VTCFWEEKÉP [Q KPVGTRTGVCEKÉP
GUVTKEVCOGPVG VGZVWCN GN QDLGVKXQ HWPFCOGPVCN FGN EWTUQ UGTÃC QHTGEGT GLGORNQU EQPETGVQU FG V¾EPKECU
FG VTCFWEEKÉP NKVGTCTKC CRNKECFCU C NC RQGUÃC
%QPVGPKFQ
+PVTQFWEEKÉP C NC VGQTÃC FG NC VTCFWEEKÉP
.CU VTCFWEEKQPGU EN±UKECU [ UW TGRGTEWUKÉP GP NC JKUVQTKC NKVGTCTKC
#P±NKUKU EQORCTCVKXQ FGN UKUVGOC O¾VTKEQ GURCÇQN G KPIN¾U
'UVWFKQ FG VGZVQU ECPÉPKEQU HWPFCOGPVCNGU
%CT±EVGT FG NCU RT±EVKECU
.QU GUVWFKCPVGU VGPFT±P SWG TGCNK\CT VTCDCLQU FG VTCFWEEKÉP FG VGZVQU [C EQPQEKFQU EQOQ
GLGTEKEKQ FG ENCUG CUÃ EQOQ RTGRCTCT VTCFWEEKQPGU FG VGZVQU KP¾FKVQU GP GURCÇQN
'XCNWCEKÉP
6TCFWEEKQPGU TGCNK\CFCU GP ENCUG [ GP ECUC
'ZCOGP HKPCN
$KDNKQITCHÃC D±UKEC
6TCPUNCVKQP 5VWFKGU .QPFQP 4QWVNGFIG
6JGQ GF 6JG /CPKRWNCVKQP QH .KVGTCVWTG 5VWFKGU KP .KVGTCT[ 6TCPUNCVKQP .QPFQP
$CUUPGVV/E )WKTG 5WUCP *GTOCPU
%TQQO *GNO
5QDTG NC +ORQUKDKNKFCF FG NC 6TCFWEEKÉP 7PKX FG %CUVKNNC .C /CPEJC
GF 6GQTÃCU FG NC 6TCFWEEKÉP #PVQNQIÃC FG 6GZVQU 7PKX FG %CUVKNNC .C /CPEJC
0GYOCTM 2GVGT #RRTQCEJGU VQ 6TCPUNCVKQP 1ZHQTF 2GTICOQP 2TGUU
#DQWV 6TCPUNCVKQP %NGXGFQP /WNVKNKPIWCN /CVVGTU
5PGNN *QTPD[ /CT[ 6TCPUNCVKQP 5VWFKGU #P +PVGITCVGF #RRTQCEJ #OUVGTFCP $GPLCOKP
5VGKPGT )GQTIG #HVGT $CDGN #URGEVU QH .CPIWCIG CPF 6TCPUNCVKQP .QPFQP 1ZHQTF 7PKXGTUKV[
.ÉRG\ &±OCUQ 2TGUU
#UKIPCVWTC
6GOC HQEQ [ QTFGP FG RCNCDTCU GP KPIN¾U
%T¾FKVQU
%CT±EVGT
1RVCVKXC PGEGUCTKC FG GURGEKCNKFCF 10'K
%KENQ
Q
1DLGVKXQU
+PKEKCT CN CNWOPQ GP NC RTQDNGO±VKEC VGÉTKEC FG NQU EQPEGRVQU VGOC HQEQ [ GUVTWEVWTCEKÉP FG NC
KPHQTOCEKÉP OGFKCPVG WP GUVWFKQ FG NQU GPHQSWGU RTKPEKRCNGU
%QPVGPKFQ
4GXKUKÉP VGÉTKEC FG NQU EQPEGRVQU
VGOCTGOC [ RTQITGUKÉP VGO±VKEC
& HQEQ [ HQECNKFCF
& QTFGP FG EQPUVKVW[GPVGU [ RTKPEKRKQU HQTOCNGU [ HWPEKQPCNGU SWG NQ FGVGTOKPCP
& GUVTWEVWTCEKÉP FG NC KPHQTOCEKÉP [ GPVQPCEKÉP EQOQ OGECPKUOQ RTCIO±VKEQ GP KPIN¾U
UGIÐP FKHGTGPVGU GPHQSWGU VGÉTKEQU EQOQ RQT GLGORNQ NC 2GTURGEVKXC (WPEKQPCN FG NC 1TCEKÉP FG
(KTDCU [ &CPGU NC )TCO±VKEC (WPEKQPCN FG &KM NC )TCO±VKEC VKRQNÉIKECHWPEKQPCN FG )KXÉP NC
)TCO±VKEC 5KUV¾OKEC FG *CNNKFC[
FG (QNG[ [ XCP 8CNKP GVE
4QNG CPF 4GHGTGPEG )TCOOCT
'UVWFKQ FG NCU FKUVKPVCU TGCNK\CEKQPGU UKPV±EVKECU SWG GZRTGUCP FKHGTGPEKCU GP FKEJQU EQPEGRVQU
QTCEKQPGU
[
NC CNVGTPCVKXC RCUKXCCEVKXC KPXGTUKQPGU UWLGVQXGTDQ GZKUVGPEKCNGU
EQPUVTWEEKQPGU EQP VGOC OCTECFQ GP KPIN¾U HQEQ OCTECFQ RQT OGFKQU RTQUÉFKEQU GVE
ENGHV RUGWFQENGHV
%CT±EVGT FG NCU RT±EVKECU
#P±NKUKU FG HTCIOGPVQU [ VGZVQU DTGXGU GP KPIN¾U JCDNCFQ [ GUETKVQ GP EWCPVQ C NQU EQPEGRVQU
[ FKUVKPEKQPGU GUVWFKCFQU UGIÐP NQU FKHGTGPVGU GPHQSWGU
'XCNWCEKÉP
6TCDCLQU KPFKXKFWCNGU [Q VTCDCLQU GP ITWRQ [ RTWGDC QDLGVKXC HKPCN
$KDNKQITCHÃC D±UKEC
K
L
&CPGU ( (WPEVKQPCN 5GPVGPEG 2GTURGVKXG CPF VJG QTICPKUCVKQP QH VJG VGZV KP ( &CPGU GF
2TCIWG #ECFGOKC 6JG *CIWG
/QWVQP
2CRGTU QP (WPEVKQPCN 5GPVGPEG 2GTURGEVKXG
6JG 6JGQT[ QH (WPEVKQPCN )TCOOCT 2CTV 6JG 5VTWEVWTG QH VJG %NCWUG &QTFTGEJV
&KM 5 % (QTKU 2WDNKECVKQPU
6JG 6JGQT[ QH (WPEVKQPCN )TCOOCT 2CTV %QORNGZ CPF &GTKXGF
VQ CRRGCT KP 'FKVGF D[ - *GPIGXGNF (QTKU
5VTWEVWTGU
(KTDCU , (WPEVKQPCN 5GPVGPEG 2GTURGEVKXG KP 9TKVVGP CPF 5RQMGP %QOOWPKECVKQP %CODTKFIG
%CODTKFIG 7PKXGTUKV[ 2TGUU
(QNG[ 9# 8CP 8CNKP 4& %CODTKFIG 7PKXGTUKV[ 2TGUU
(WPEVKQPCN 5[PVCZ CPF 7PKXGTUCN )TCOOCT %CODTKFIG
'PINKUJ )TCOOCT # (WPEVKQP$CUGF +PVTQFWEVKQP #OUVGTFCO ,QJP $GPLCOKPU
*CNNKFC[ /#- +PVTQFWEVKQP VQ (WPEVKQPCN )TCOOCT GF .QPFQP #TPQNF
)KXÉP 6CNO[ PF
#UKIPCVWTC
6GQTÃC FGN ECODKQ NKPIÒÃUVKEQ CRNKECFQ C NC JKUVQTKC FGN KPIN¾U
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
'N EWTUQ RTGVGPFG CRNKECT NCU JKRÉVGUKU CXCP\CFCU GP GN UGPQ FG NCU FKHGTGPVGU VGQTÃCU FGN ECODKQ
NKPIÒÃUVKEQ C FKHGTGPVGU CURGEVQU FG NC NGPIWC KPINGUC C NQ NCTIQ FG UW JKUVQTKC 'P VCN UGPVKFQ NC
CUKIPCVWTC RTGVGPFG CEQIGT CSWGNNQU RTQEGUQU [C GUVWFKCFQU GP QVTCU CUKIPCVWTCU FG ECT±EVGT FKCETÉPKEQ
%QPVGPKFQ
5G GZRQPFT±P NQU FGDCVGU SWG UG RTQFWEGP GPVTG NCU VGQTÃCU FGUETKRVKXCU FGN ECODKQ HTGPVG C NCU
SWG RTGVGPFGP QHTGEGT ENCXGU FG GZRNKECEKÉP FGN HGPÉOGPQ [ NCU FKHGTGPVGU KPVGTRTGVCEKQPGU SWG GP
EQPUGEWGPEKC UG RTQFWEGP UQDTG NCU ECWUCU FGN ECODKQ NKPIÒÃUVKEQ 5G CRNKECT±P FKEJCU VGQTÃCU C NQU
ECODKQU O±U KORQTVCPVGU FG NC GXQNWEKÉP FG NC NGPIWC KPINGUC FGUFG UWU QTÃIGPGU JCUVC NC CEVWCNKFCF
%CT±EVGT FG NCU RT±EVKECU
5G TGCNK\CT±P CP±NKUKU FG VGZVQU FG FKHGTGPVGU ¾RQECU FG NC JKUVQTKC FGN KPIN¾U SWG KNWUVTGP
FKHGTGPVGU OGECPKUOQU G JKRÉVGUKU FG ECODKQ NKPIÒÃUVKEQ
'XCNWCEKÉP
.C GXCNWCEKÉP VGPFT± WP ECT±EVGT EQPVKPWQ XCNQT±PFQUG NQU VTCDCLQU KPFKXKFWCNGU Q GP ITWRQU
SWG UG TGCNKEGP C NQ NCTIQ FGN EWTUQ #UKOKUOQ UG RQFT± TGCNK\CT WP VTCDCLQ HKPCN Q DKGP WP GZCOGP CN
V¾TOKPQ FGN EWTUQ
$KDNKQITCHÃC D±UKEC
.CPIWCIG EJCPIG RTQITGUU QT FGEC[ PF GFKVKQP %CODTKFIG %72
.CUU 4 1P GZRNCKPKPI NCPIWCIG EJCPIG %CODTKFIG %72
#KVEJKUQP , #UKIPCVWTC
6GZVQ [ GUEGPC GP GN OCTEQ FGN VGCVTQ KPIN¾U
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ

1DLGVKXQU
'ZCOKPCT [ EQORCTCT NQU FKHGTGPVGU VKRQU FG VGCVTQ GP NC GXQNWEKÉP FGN VGCVTQ KPIN¾U UWU
TGURGEVKXQU GURCEKQU FTCO±VKEQU GUVKNQU FG GUEGPKHKECEKÉP GUEWGNCU FG CEVWCEKÉP [ VGEPQNQIÃCU [ EÉOQ
GUQU HCEVQTGU JCP KPHNWKFQ GP NC EQPUVTWEEKÉP FGN VGZVQ FTCO±VKEQ
%QPVGPKFQ
'N VGCVTQ KPIN¾U FWTCPVG GN OGFKGXQ DTGXG RCPQTCOC FG NQU FKHGTGPVGU GUEGPCTKQU 'N VGCVTQ TGNKIKQUQ
[ EÃXKEQ FG NC ¾RQEC
'N VGCVTQ TGPCEGPVKUVC 6GCVTQ EQOGTEKCN EQP CEVQTGU RTQHGUKQPCNGU 6KRQU FG VGCVTQ RÐDNKEQ RTKXCFQ
Q EQTVGUCPQ .C CTSWKVGEVWTC VGCVTCN FG NC ¾RQEC
'N VGCVTQ FG NC 4GUVCWTCEKÉP .C EQOGFKC EQTVGUCPC [ OGVTQRQNKVCPC .C CRCTKEKÉP FG CEVTKEGU GP
GUEGPC
5KINQU :8+++ [ :+: %QOGFKC FKGEKQEJGUEC .QU ITCPFGU FKTGEVQTGUCEVQTGU #FCRVCEKQPGU FG
5JCMGURGCTG 'XQNWEKÉP FG NC CTSWKVGEVWTC [ VGEPQNQIÃC VGCVTCNGU 'N OGNQFTCOC XKEVQTKCPQ .CU
EQOGFKCU FG 1UECT 9KNFG .CU KPHNWGPEKCU FG +DUGP [ %JGMJQX GP GN VGCVTQ KPIN¾U
5KINQ :: 5VCPKUNCXUMK [ GN /QUEQY #TVU 6JGCVTG 6JG &TCOC QH +FGCU 'N FTCOC RQ¾VKEQ FG NQU
CÇQU 'N VGCVTQ FGN CDUWTFQ -KVEJGPUKPM FTCOC FG NQU CÇQU 'UEGPCTKQU CEVWCNGU 6GCVTQ GZRGTKOGPVCN &TCOCVWTIQU KPINGUGU EQPVGORQT±PGQU 'N VGCVTQ GP QVTQU
OGFKQU FG EQOWPKECEKÉP EKPG 68 TCFKQ XKFGQ
6QFQ GNNQ KNWUVTCFQ RQT WPC QDTC RQT ECFC ¾RQEC UCNXQ NC OGFKGXCN
%CT±EVGT FG NCU RT±EVKECU
.CU RT±EVKECU EQPUKUVKT±P GP C KPVGTXGPEKQPGU KPFKXKFWCNGU [ GP ITWRQ GP ENCUG GP NCU SWG UG
GZRQPFT±P CP±NKUKU FG GUEGPCU QDTCU Q TGRTGUGPVCEKQPGU D GP WP VTCDCLQ TGFCEVCFQ GP ITWRQ UQDTG
CNIÐP CURGEVQ FGN EQPVGPKFQ FGN EWTUQ
'XCNWCEKÉP
#N UGT WPC CUKIPCVWTC GOKPGPVGOGPVG RCTVKEKRCVKXC UG GXCNWCT± CN CNWOPQ UQDTG NCU UKIWKGPVGU
DCUGU UW RCTVKEKRCEKÉP GP NCU FKUEWUKQPGU GP ENCUG UW VTCDCLQ GP ITWRQ [ WP GZCOGP HKPCN
$KDNKQITCHÃC D±UKEC
*KUVQTKC %TÃVKEC FGN 6GCVTQ +PIN¾U #NEQ[ /CTHKN
.GCETQHV 4KEJCTF 6JG &GXGNQROGPV QH VJG 'PINKUJ 2NC[JQWUG .QPFQP /GVJWGP
/QTICP /CTIGT[ &TCOC 2NC[U 6JGCVTG CPF 2GTHQTOCPEG $GKTWV .QPIOCP ;QTM 2TGUU
$TQEMGVV 1UECT ) *KUVQT[ QH VJG 6JGCVTG PF GF $QUVQP /CUU #NN[P $CEQP
*KFCNIQ 2KNCT GV CN #UKIPCVWTC
6KRQU FG VGZVQU HWPFCOGPVCNGU RCTC NC JKUVQTKC FG NC NGPIWC KPINGUC
%T¾FKVQU
%CT±EVGT
1RVCVKXC
%KENQ
Q
1DLGVKXQU
.QU GUVWFKCPVGU CN HKPCNK\CT GN EWTUQ FGDGT±P TGEQPQEGT FKUVKPVQU VKRQU FG VGZVQU RTQFWEKFQU C
NQ NCTIQ FG NC JKUVQTKC FG NC NGPIWC KPINGUC CUÃ EQOQ UWU ECTCEVGTÃUVKECU NKPIÒÃUVKECU [ EQPVGZVWCNGU
EQPETGVCU +IWCNOGPVG RQFT±P GUVCDNGEGT NC KORQTVCPEKC SWG FKEJQU VGZVQU [ VKRQU FG VGZVQU JCP VGPKFQ
RCTC GN FGUCTTQNNQ HQTOCN [ HWPEKQPCN FGN KPIN¾U
%QPVGPKFQ
6TCU NC TGXKUKÉP FG NQU RTKPEKRCNGU HCEVQTGU JKUVÉTKEQU UQEKCNGU [ EWNVWTCNGU SWG JCP CHGEVCFQ C
NC RTQFWEEKÉP VGZVWCN KPINGUC C NQ NCTIQ FG NC JKUVQTKC GN EWTUQ RTGVGPFG TGXKUCT NC KORQTVCPEKC SWG
TGXKUVGP FGVGTOKPCFQU VKRQU FG VGZVQU RCTC C GN RTQRKQ FGUCTTQNNQ FG NC NGPIWC KPINGUC [ D GN NKPIÒKUVC
FKCETÉPKEQ JCEKGPFQ JKPECRK¾ GP NC WVKNK\CEKÉP SWG NQU VGZVQU JCP VGPKFQ GP GN RCUCFQ [ NCU RQUKDKNKFCFGU
FG KPXGUVKICEKÉP SWG CDTGP %QP GNNQ UG TGEQPUKFGTCT±P VGOCU [ CURGEVQU HWPFCOGPVCNGU FG NC JKUVQTKC
FG NC NGPIWC KPINGUC FGUFG WPC RGTURGEVKXC FKUVKPVC C NC ETQPQNÉIKEC O±U RTÉZKOC C NQU OCVGTKCNGU FG
SWG UG UKTXG GN KPXGUVKICFQT
%CT±EVGT FG NCU RT±EVKECU
%QPUKUVKT±P HWPFCOGPVCNOGPVG GP NC TGXKUKÉP FG VGZVQU Q HTCIOGPVQU TGNGXCPVGU
'XCNWCEKÉP
G
G
5G XCNQTCT±P NCU RT±EVKECU VTCDCLQU [ GLGTEKEKQU TGCNK\CFCU C NQ NCTIQ FGN EWTUQ 'N GZCOGP
HKPCN EQPUKUVKT± GP RTGIWPVCU FG GZVGPUKÉP XCTKCDNG TGNCVKXCU C NQU EQPVGPKFQU FGN RTQITCOC 2QFT±
KPENWKTUG KIWCNOGPVG WP EQOGPVCTKQ FG VGZVQ
$KDNKQITCHÃC D±UKEC
%QOQ RWPVQ FG RCTVKFC UG WVKNK\CT±P OCPWCNGU FG *KUVQTKC FG NC NGPIWC KPINGUC [ FG EWGUVKQPGU
JKUVÉTKEQUQEKCNGU RGTVKPGPVGU CUÃ EQOQ WPC JKUVQTKC FG NC NKVGTCVWTC KPINGUC #FGO±U UG VGPFT±P GP
EWGPVC NCU UKIWKGPVGU TGHGTGPEKCU
1TCNKV[ CPF NKVGTCE[ .QPFQP 4QWVNGFIG
4KUUCPGP / GV CN GFU 'CTN[ 'PINKUJ KP VJG EQORWVGT CIG GZRNQTCVKQPU VJTQWIJ VJG *GNUKPMK
%QTRWU $GTNKP /QWVQP
1PI 9 4GEQOGPFCEKQPGU FGN &GRCTVCOGPVQ UQDTG NC UGEWGPEKC GP SWG FGDGP
EWTUCTUGFGVGTOKPCFCUCUKIPCVWTCUFG2TKOGT%KENQ
#
'
52'%+#.+<#%+¡0 '0 .+0)ª›56+%# +0).'5#
#
%QPEGRVQU HWPFCOGPVCNGU FG 5QEKQNKPIÒÃUVKEC KPINGUC
(QP¾VKEC [ HQPQNQIÃC KPINGUCU
B
¯
C
=%CODKQU NKPIÒÃUVKEQU GP KPIN¾U EQPVGORQT±PGQ?
4GIKUVTQU [ XCTKGFCFGU NKPIÒÃUVKECU FGN KPIN¾U
+PIN¾U COGTKECPQ
%CODKQU NKPIÒÃUVKEQU GP KPIN¾U EQPVGORQT±PGQ
#
+PVTQFWEEKÉP CN KPIN¾U CPVKIWQ
%QOGPVCTKQ NKPIÒÃUVKEQ FG VGZVQU RQ¾VKEQU KPIN¾U
CPVKIWQ
C
$ '52'%+#.+<#%+¡0 '0 .+6'4#674#5
=6GQTÃC FG NC HKEEKÉP CPINQCOGT
.KV RQRWNCT GP +PINCVGTTC?
'0 .'0)7# +0).'5#
.KV EQPV GP KPIN¾U %QOOQPYGCNVJ
6GQTÃC FG NC HKEEKÉP CPINQCO
6¾EPKECU KPVGTRTGVCEKÉP NKVGTCTKC
#RTQZ I¾PGTQU NKVGTCTKQU
+PIN¾U OGFKQ
'UETKVQTCU KPINGUCU FQU ÐNV UKINQU
.KV RQRWNCT GP +PINCVGTTC
¯
.KV EQPVGORQT±PGC GP KPIN¾U
'UETKVQTCU KPINGUCU ÐNVKOQU UKINQU
$KQITCHÃC [ CWVQDKQIT CPINQPQTV
¯
$KQITCHÃC [ CWVQDKQITCHÃC CPINQPQTV
&GN TGNCVQ C NC PQXGNC HKEEKÉP PQTV
.KVGTCVWTC RQRWNCT GP ''77 YGUVGTP
6GZVQU HWPF FG NC RQ¾VKEC KPINGUC
Índice alfabético
#P±NKUKU FG NC EQPXGTUCEKÉP KPIN¾U #RTQZKOCEKÉP C NQU I¾PGTQU NKVGTCTKQU GP NC NKVGTCVWTC
CPINQPQTVGCOGTKECPC
.KVGTCVWTC PQTVGCOGTKECPC UKINQ :: + JCUVC .KVGTCVWTC PQTVGCOGTKECPC UKINQ :: ++ JCUVC PWGU
VTQU FÃCU %CODKQU NKPIÒÃUVKEQU GP KPIN¾U EQPVGORQT±PGQ .KVGTCVWTC RQRWNCT GP ''77 GN 9GUVGTP [ NC 0QXGNC
%KPG [ NKVGTCVWTC FG JCDNC KPINGUC
$KQITCHÃC [ CWVQDKQITCHÃC CPINQPQTVGCOGTKECPCU
VWTC PQTVGCOGTKECPC %NCXGU JKUVÉTKECU FG NC EWNVWTC KPINGUC %NCXGU JKUVÉTKECU FG NC EWNVWTC [ UQEKGFCF ''77
%NCXGU RCTC GN GUVWFKQ FG NC JKUVQTKC NKVGTCTKC KPINGUC
%NCXGU FGN RGPUCOKGPVQ PQTVGCOGTKECPQ
%QOGPVCTKQ NKPIÒÃUVKEQ FG VGZVQU RQ¾VKEQU KPIN¾U
CPVKIWQ /CPKHGUVCEKQPGU KPUVKVWEKQPCNGU FG NC EWNVWTC KPINGUC
/GVQFQNQIÃC FG NC GPUGÇCP\C FGN KPIN¾U /GVQFQNQIÃC FG NC KPXGUVKICEKÉP NKPIÒÃUVKEC KPINGUC
/QFGNQU HQPQNÉIKEQU FGN KPIN¾U
/QFGNQU HWPEKQPCNGU FG NC ITCO±VKEC KPINGUC
/QFGNQU RQ¾VKEQU FG NC .KVGTCVWTC +PINGUC UU :+: [
%QOGPVCTKQU FG VGZVQU NKVGTCTKQU OGFKGXCNGU KPINGUGU
FGN 1GUVG
.KVGTCVWTC RQRWNCT GP +PINCVGTTC
%NCXGU EWNVWTCNGU [ QDTCU HWPFCOGPVCNGU FG NC NKVGTC
:: /QFGNQU VGÉTKEQU FG FGUETKREKÉP FG NC NGPIWC KPINGUC
/QTHQUKPVCZKU KPINGUC
%QORTGPUKÉP [ GZRTGUKÉP QTCNGU /QTHQUKPVCZKU JKUVÉTKEC FGN KPIN¾U .C PQXGNC KPINGUC FGN UKINQ ::
2GTKQFKUOQ [ HKEEKÉP GP NQU 'UVCFQU 7PKFQU %QPEGRVQU HWPFCOGPVCNGU FG NC OGVQFQNQIÃC FG NC
GPUGÇCP\C FGN KPIN¾U
%QPEGRVQU HWPFCOGPVCNGU FG UQEKQNKPIÒÃUVKEC KPINGUC
PKECU
'UETKVQTCU KPINGUCU FG NQU FQU ÐNVKOQU UKINQU
2QGUÃC KPINGUC FG NQU UKINQU :+: [ :: 2UKEQNKPIÒÃUVKEC CRNKECFC C NC NGPIWC KPINGUC 4GCNKUOQ [ OQFGTPKUOQ GP NC NKVGTCVWTC KPINGUC :+:
%WNVWTC [ UQEKGFCF EQPVGORQT±PGC GP NCU +UNCU $TKV±
'PVQPCEKÉP FGN KPIN¾U
'N RQGOC NCTIQ GP NC JKUVQTKC NKVGTCTKC PQTVGCOGTKECPC
.C ETÃVKEC NKVGTCTKC GP NGPIWC KPINGUC QTÃIGPGU GXQNW
EKÉP GUEWGNCU [ OQFGNQU
%QORTGPUKÉP [ GZRTGUKÉP FGN KPIN¾U GUETKVQ
2QGUÃC OQFGTPKUVC CPINQPQTVGCOGTKECPC
2TCIO±VKEC FGN KPIN¾U
'UVKNÃUVKEC KPINGUC [ VKRQNQIÃC VGZVWCN 4GIKUVTQU [ XCTKGFCFGU NKPIÒÃUVKECU FGN KPIN¾U 'UVTWEVWTCEKÉP EQIPKVKXC FGN VGZVQ KPIN¾U &GN TGNCVQ C NC PQXGNC GP NC HKEEKÉP COGTKECPC 'XQNWEKÉP FG NC PQXGNC KPINGUC JCUVC GN UKINQ :: .C TGXKUKÉP HGOKPKUVC FG NC JKUVQTKC NKVGTCTKC PQTVGC
(QP¾VKEC [ HQPQNQIÃC KPINGUCU OGTKECPC (QTOCU RQ¾VKECU FG NC NKVGTCVWTC KPINGUC 5GO±PVKEC [ EQORNGOGPVCTKGFCF FGN XGTDQ KPIN¾U )TCO±VKEC KPINGUC FKUEWTUQ [ VGZVQ
5KPVCZKU IGPGTCVKXC FGN KPIN¾U )TCO±VKEC KPINGUC UKPVCZKU [ UGO±PVKEC QTCEKQPCN
5QEKQNKPIÒÃUVKEC JKUVÉTKEC FGN KPIN¾U 'N UQPGVQ KUCDGNKPQ 6GCVTQ KPIN¾U EQPVGORQT±PGQ 6GCVTQ KPIN¾U 5JCMGURGCTG [ GN VGCVTQ KUCDGNKPQ 6GCVTQ PQTVGCOGTKECPQ CEVWCN
6¾EPKECU FG KPVGTRTGVCEKÉP NKVGTCTKC 'N KPIN¾U GP NC ¾RQEC FG 5JCMGURGCTG
+PIN¾U OGFKQ
+PPQXCEKÉP [ GZRGTKOGPVCEKÉP GP NC HKEEKÉP PQTVGC
OGTKECPC CEVWCN 6¾EPKECU FG VTCFWEEKÉP RQ¾VKEC FG VGZVQU KPINGUGU 6GOC HQEQ [ QTFGP FG RCNCDTCU GP KPIN¾U 6GQTÃC FG NC HKEEKÉP CPINQPQTVGCOGTKECPC 6GQTÃC FGN ECODKQ NKPIÒÃUVKEQ CRNKECFQ C NC JKUVQTKC FGN
6GZVQ [ GUEGPC GP GN OCTEQ FGN VGCVTQ KPIN¾U 6GZVQU HWPFCOGPVCNGU FG NC RQ¾VKEC KPINGUC +PVTQFWEEKÉP C NC GXQNWEKÉP [ FGUCTTQNNQ FG NC NGPIWC
KPINGUC
*KUVQTKC [ HKEEKÉP GP NC NKVGTCVWTC KPINGUC
+PIN¾U COGTKECPQ
::
+PVTQFWEEKÉP CN KPIN¾U CPVKIWQ
+PVTQFWEEKÉP C NC NÉIKEC [ NQU O¾VQFQU HQTOCNGU GP
NKPIÒÃUVKEC KPINGUC KPIN¾U +PXGUVKICEKÉP [ HWGPVGU DKDNKQIT±HKECU FG NC NKVGTCVWTC
CPINQPQTVGCOGTKECPC
6KRQU FG VGZVQU HWPFCOGPVCNGU RCTC NC JKUVQTKC FG NC
6TCFWEEKÉP FG VGZVQU KPINGUGU
.GPIWC GUV±PFCT [ PQTOCVKXC GP NC JKUVQTKC FG NC
NGPIWC KPINGUC .GPIWC KPINGUC + FGUVTG\CU KPVGITCFCU
NGPIWC KPINGUC .GPIWC KPINGUC ++ FGUVTG\CU KPVGITCFCU .GZKEQNQIÃC [ UGO±PVKEC N¾ZKEC FGN KPIN¾U .KPIÒÃUVKEC EQORWVCEKQPCN .KVGTCVWTC CPINQKTNCPFGUC
.KVGTCVWTC EQPVGORQT±PGC GP NGPIWC KPINGUC FG NQU
RCÃUGU FG NC %QOOQPYGCNVJ
.KVGTCVWTC FG OKPQTÃCU GP 'UVCFQU 7PKFQU
.KVGTCVWTC PQTVGCOGTKECPC .KVGTCVWTC PQTVGCOGTKECPC 2GTKQFQ HQTOCVKXQ JCUVC
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA
70+8'45+&#& %1/2.76'05' &' /#&4+&
&'2#46#/'061 &' (+.1.1)›# +0).'5#
(CEWNVCF FG (KNQNQIÃC 'FKHKEKQ #
%KWFCF 7PKXGTUKVCTKC UP
/CFTKF
(CZ http://www.ucm.es/info/FInglesa/index.htm