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REQITPEXI
QEXIVMEPW]QFSPIK%-7-%71)%781SV-73
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REQITPEXI
RSQMREPZEPZIWM^I FSH]SVREQITPEXISVFSXL [LIVI TVEGXMGEFPI
E JYPPSTIRMRKZEPZIWRSQMREPZEPZIWM^I F VIHYGIHSTIRMRKZEPZIWWLEPPFIQEVOIHEWWTIGMJMIHMR
VMRKNSMRXKVSSZIRYQFIV
ZEPZIJPERKIIHKI
71=7 YRMXW SJZEPZIIRHW[LIVIETTPMGEFPI
FSH][IPHFIZIPIRHW
JPS[HMVIGXMSR JSVGLIGOZEPZIWSRP]
FSH]
WIEXWIEPMRKHMVIGXMSR ZEPZIW[MXLTVIJIVVIHHMVIGXMSRSRP]
WITEVEXIMHIRXMJMGEXMSRTPEXISRZEPZIFSH]
WIEXXIWXTIV'PEYWIW&&&JSV(&&(-&SV(-& VIWTIGXMZIP] [LIVIETTPMGEFPI
REQITPEXI
YRMUYIWIVMEPRYQFIV
FSXLFSH]ERHREQITPEXI
HEXISJQERYJEGXYVI QSRXLERH]IEV
REQITPEXI
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REQITPEXI
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-73 ) %4-7TIGMJMGEXMSR(-73
4VITEVEXMSRJSVWLMTQIRX
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(SGYQIRXEXMSR 8LI HSGYQIRXEXMSR PMWXIH FIPS[ WLEPP FI VIXEMRIH F] XLI QERYJEGXYVIVJSV EQMRMQYQ SJ XIR ]IEVW JSPPS[MRK XLIHEXISJQERYJEGXYVI E HIWMKRHSGYQIRXEXMSR F [IPHTVSGIHYVIWTIGMJMGEXMSR ;47 G [IPHTVSGIHYVIUYEPMJMGEXMSRVIGSVH 456 H [IPHIVTIVJSVQERGIUYEPMJMGEXMSR ;45 I UYEPMJMGEXMSRVIGSVHWSJ2()TIVWSRRIP J
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K JSVZEPZIW(2 247 ERHPEVKIV QEXIVMEPXIWXVITSVXJSVFSH]FSRRIXGSZIV W ERHIRHGSRRIGXSV W GPSWYVI W XVEGIEFPIXSXLIYRMUYI ZEPZIWIVMEPRYQFIV WIVMEPRYQFIV TVIWWYVIXIWXVIWYPXW L JSVWSYVWIVZMGIZEPZIWGIVXMJMGEXISJGSQTPMERGIXS-73 EPPTEVXW 238)
4YVGLEWIVSVVIKYPEXSV]VIUYMVIQIRXWGERWTIGMJ]EPSRKIVVIGSVHVIXIRXMSRTIVMSH
8LI HSGYQIRXEXMSR WLEPP FI TVSZMHIH F] XLI QERYJEGXYVIV MR PIKMFPI VIXVMIZEFPI ERH VITVSHYGMFPI JSVQ ERH JVIISJHEQEKI 8LITYVGLEWIVGERWTIGMJ]WYTTPIQIRXEV]HSGYQIRXEXMSRMREGGSVHERGI[MXL%RRI\'
'ST]VMKLX%QIVMGER4IXVSPIYQ-RWXMXYXI
-73 ) %4-7TIGMJMGEXMSR(-73
%RRI\% RSVQEXMZI 6IUYMVIQIRXWJSVRSRHIWXVYGXMZII\EQMREXMSR
% +IRIVEP 8LMWERRI\WTIGMJMIWXLIVIUYMVIQIRXWJSVRSRHIWXVYGXMZII\EQMREXMSR 2() XLEXWLEPPFITIVJSVQIHF]XLI QERYJEGXYVIVMJWTIGMJMIHF]XLITYVGLEWIV
% 6EHMSKVETLMGXIWXMRK 68 SJGEWXMRKWSR SJGVMXMGEPEVIEW )\EQMREXMSRWLEPPFIGEVVMIHSYXMREGGSVHERGI[MXL%71)&%TTIRHM\- %GGITXERGIWLEPPFIMREGGSVHERGI[MXL%71)&%TTIRHM\-
% 6EHMSKVETLMGXIWXMRK 68 SJGEWXMRKWSR SJEGGIWWMFPIEVIEW )\EQMREXMSRWLEPPFIGEVVMIHSYXMREGGSVHERGI[MXL%71)&%TTIRHM\- %GGITXERGIWLEPPFIMREGGSVHERGI[MXL%71)&%TTIRHM\-
% 9PXVEWSRMGXIWXMRK 98 SJGEWXMRKWSR SJGVMXMGEPEVIEW )\EQMREXMSRWLEPPFIGEVVMIHSYXMREGGSVHERGI[MXL%71)&%TTIRHM\-: %GGITXERGIWLEPPFIMREGGSVHERGI[MXL%71)&%TTIRHM\-:
% 9PXVEWSRMGXIWXMRK 98 SJGEWXMRKWSR SJEGGIWWMFPIEVIEW )\EQMREXMSRWLEPPFIGEVVMIHSYXMREGGSVHERGI[MXL%71)&%TTIRHM\-: %GGITXERGIWLEPPFIMREGGSVHERGI[MXL%71)&%TTIRHM\-:
% 1EKRIXMGTEVXMGPIXIWXMRK 18 SJGEWXMRKWSR SJWYVJEGIEVIE )\EQMREXMSR WLEPP FI GEVVMIH SYX MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR: %VXMGPI %GGITXERGI WLEPP FI MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR %TTIRHM\I\GITXXLEXVIPIZERXMRHMGEXMSRW VSYRHIHERHPMRIEV SJPIWWXLERQQEVIEGGITXEFPI
% 4IRIXVERXXIWXMRK 48 SJGEWXMRKWSR SJWYVJEGIEVIE )\EQMREXMSR WLEPP FI GEVVMIH SYX MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR: %VXMGPI 'ST]VMKLX%QIVMGER4IXVSPIYQ-RWXMXYXI
-73 ) %4-7TIGMJMGEXMSR(-73
%GGITXERGI WLEPP FI MR EGGSVHERGI [MXL %71)&SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR %TTIRHM\ I\GITXXLEXVIPIZERXMRHMGEXMSRW VSYRHIHERHPMRIEV SJPIWWXLERQQEVIEGGITXEFPI
% 9PXVEWSRMGXIWXMRK 98 SJJSVKMRKWERHTPEXISR SJWYVJEGIEVIE )\EQMREXMSRWLEPPFIGEVVMIHSYXMREGGSVHERGI[MXL%781%%781%SV%781%EWETTPMGEFPI %GGITXERGIWLEPPFIMREGGSVHERGI[MXL%781%%781%SV%781%EWETTPMGEFPI
% 1EKRIXMGTEVXMGPIXIWXMRK 18 SJJSVKMRKWSR SJWYVJEGIEVIE )\EQMREXMSR WLEPP FI GEVVMIH SYX MR EGGSVHERGI [MXL %71)&SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR: %VXMGPI %GGITXERGI WLEPP FI MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR %TTIRHM\
% 4IRIXVERXXIWXMRK 48 SJJSVKMRKWSR SJWYVJEGIEVIE )\EQMREXMSR WLEPP FI GEVVMIH SYX MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR: %VXMGPI %GGITXERGI WLEPP FI MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR %TTIRHM\
% 6EHMSKVETLMGXIWXMRK 68 SJ[IPHQIRXWSR SJ[IPH )\EQMREXMSR WLEPP FI GEVVMIH SYX MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR: %VXMGPI %GGITXERGI WLEPP FI MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR 9; JSV PMRIEV MRHMGEXMSRW ERH %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR %TTIRHM\JSVVSYRHIHMRHMGEXMSRW
% 9PXVEWSRMGXIWXMRK 98 SJJYPPTIRIXVEXMSR[IPHWSR SJ[IPH )\EQMREXMSR WLEPP FI GEVVMIH SYX MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR: %VXMGPI %GGITXERGI WLEPP FI MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR %TTIRHM\
% 1EKRIXMGTEVXMGPIXIWXMRK 18 SJ[IPHWSR SJ[IPHWYVJEGIEVIE )\EQMREXMSR WLEPP FI GEVVMIH SYX MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR: %VXMGPI %GGITXERGI WLEPP FI MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR %TTIRHM\SV-73
DDDDDDDDDDDDD
'ST]VMKLX%QIVMGER4IXVSPIYQ-RWXMXYXI
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% 4IRIXVERXXIWXMRK 48 SJ[IPHWSR SJ[IPHWYVJEGIEVIE
)\EQMREXMSR WLEPP FI GEVVMIH SYX MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR: %VXMGPI %GGITXERGI WLEPP FI MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR %TTIRHM\SV-73
% 1EKRIXMGTEVXMGPIXIWXMRK 18 SJFSPXMRK )\EQMREXMSR WLEPP FI GEVVMIH SYX MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR: %VXMGPI %GGITXERGI WLEPP FI MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR %TTIRHM\
% 4IRIXVERXXIWXMRK 48 SJFSPXMRK )\EQMREXMSR WLEPP FI GEVVMIH SYX MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR: %VXMGPI %GGITXERGI WLEPP FI MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR %TTIRHM\
% 1EKRIXMGTEVXMGPIXIWXMRK 18 SR SJQEGLMRIHWYVJEGIW )\EQMREXMSR WLEPP FI GEVVMIH SYX MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR: %VXMGPI %GGITXERGI WLEPP FI MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR %TTIRHM\
% 4IRIXVERXXIWXMRK 48 SR SJQEGLMRIHWYVJEGIW )\EQMREXMSR WLEPP FI GEVVMIH SYX MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR: %VXMGPI %GGITXERGI WLEPP FI MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR %TTIRHM\
% 4IRIXVERXXIWXMRK 48 SJ[IPHFIZIPWSJ[IPHMRKIRHW )\EQMREXMSR WLEPP FI GEVVMIH SYX MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR: %VXMGPI %GGITXERGI WLEPP FI MR EGGSVHERGI [MXL %71) &SMPIV ERH 4VIWWYVI :IWWIP 'SHI 7IGXMSR:--- (MZMWMSR %TTIRHM\
'ST]VMKLX%QIVMGER4IXVSPIYQ-RWXMXYXI
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& 8]TI-- 8LIWIEXXIWXWTIGMJMIHMRWLEPPFIVITIEXIHEXEXIWXTVIWWYVISJ14E 14E FEV FEV TWM TWM YWMRKEMVSVRMXVSKIREWXLIXIWXQIHMYQ
& ,MKLTVIWWYVIKEWXIWXMRK & +IRIVEP ,MKLTVIWWYVIKEWXIWXMRKWLEPPFITIVJSVQIHEJXIVL]HVSWXEXMGWLIPPXIWXMRK ;%62-2+h ,MKLTVIWWYVI KEW XIWXMRK MRZSPZIW TSXIRXMEP LE^EVHW %TTVSTVMEXI WEJIX] TVIGEYXMSRW WLSYPHFIXEOIR
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tWHSGYQIRXIH FVIEOE[E]XSVUYIXLVYWX
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& %GGITXERGIGVMXIVME 8LIXIWXWLEPPRSXGEYWIER]TIVQERIRXZMWMFPIHIJSVQEXMSRSJXLIHVMZIXVEMR *SVFEPP ERHTPYKZEPZIWXLIXSXEPXSVWMSREP HIJPIGXMSRSJXLI I\XIRHIHHVMZI XVEMR[LIRHIPMZIVMRK XLIHIWMKR XSVUYIWLEPPRSXI\GIIHXLISZIVPETGSRXEGXERKPIFIX[IIRXLIWIEXERHSFXYVEXSV
& 'EZMX]VIPMIJXIWXMRK & *VIUYIRG] )EGLZEPZIWLEPPFIXIWXIH 'EZMX] VIPMIJ XIWXMRK MW RSX VIUYMVIH MJ TVSXIGXMSR SJ XLI GEZMX] EKEMRWX SZIVTVIWWYVI MW IRWYVIH JSV FSXL XLI STIRERHXLIGPSWIHTSWMXMSRF]ELSPIMRXLISFXYVEXSVSVEVSYRHXLIWIEXWIEP
& 8VYRRMSRQSYRXIHFEPPZEPZIWERHXLVSYKLGSRHYMXKEXIZEPZIW[MXLMRXIVREPVIPMIZMRK WIEXW 8LI TVSGIHYVI JSV GEZMX]VIPMIJ XIWXMRK SJ XVYRRMSRQSYRXIH FEPP ZEPZIW ERH XLVSYKLGSRHYMX KEXI ZEPZIW [MXL MRXIVREPVIPMIZMRKWIEXWWLEPPFIEWJSPPS[W E *MPPXLIZEPZIMRXLILEPJSTIRTSWMXMSR[MXL[EXIV F 'PSWIXLIZEPZIERHEPPS[[EXIVXSSZIVJPS[JVSQXLIXIWXGSRRIGXMSREXIEGLIRHSJXLIZEPZI G %TTP] TVIWWYVI XS XLI ZEPZI GEZMX] YRXMP SRI WIEX VIPMIZIW XLI GEZMX] TVIWWYVI MRXS XLI ZEPZI IRH VIGSVH XLMWVIPMIJTVIWWYVI H *SVZEPZIX]TIW [MXLWIGSRHWIEX VIPMIJGSRXMRYI XS MRGVIEWI XLITVIWWYVIXSXLI GEZMX] YRXMP XLI WIGSRH WIEXVIPMIZIWVIGSVHXLIVIPMIJTVIWWYVISJXLIWIGSRHWIEX *EMPYVIXSVIPMIZIEXETVIWWYVIPIWWXLERXMQIWXLIZEPZITVIWWYVIVEXMRKWLEPPFIGEYWIJSVVINIGXMSR
& *PSEXMRKFEPPZEPZIW 8LITVSGIHYVIJSVGEZMX]VIPMIJXIWXMRKSJJPSEXMRKFEPPZEPZIWWLEPPFIEWJSPPS[W E ;MXLXLIZEPZILEPJSTIRTVIWWYVM^IXLIZEPZIXSXMQIWXLIZEPZITVIWWYVIVEXMRKWTIGMJMIHMRJSV XLIQEXIVMEPEX' * F 'PSWIXLIZEPZIERHZIRXIEGLIRHXSEXQSWTLIVMGTVIWWYVI G 3TIRXLIZEPZIXSXLILEPJSTIRTSWMXMSRERHQSRMXSVJSVXLIVIPIEWISJXIWXQIHMYQXVETTIHMRXLIGEZMX] )ZMHIRGISJXVETTIHTVIWWYVM^MRKQIHMYQMRXLIGEZMX]WLEPPFIGEYWIJSVVINIGXMSR 'ST]VMKLX%QIVMGER4IXVSPIYQ-RWXMXYXI
-73 ) %4-7TIGMJMGEXMSR(-73
& ,]HVSKIRMRHYGIHGVEGOMRKXIWX
4VSGIWW[IXXIHERHTVIWWYVIGSRXEMRMRKTEVXWXLEXEVIQERYJEGXYVIHJEFVMGEXIHSVJSVQIHJVSQTPEXIWLEPPFI VIWMWXERX XS L]HVSKIRMRHYGIH GVEGOMRK ,-' 8LMW WLEPP FI HIQSRWXVEXIH F] WYGGIWWJYP ,-' XIWXMRK MR EGGSVHERGI [MXL 2%')81 I\GITX XLEX XLI XIWX WSPYXMSR WLEPP GSQTP] [MXL 2%')81 ,-'EGGITXERGI GVMXIVME WYGL EW XLI GVEGOWIRWMXMZMX] VEXMS '76 GVEGOPIRKXL VEXMS '06 ERH GVEGOXLMGORIWWVEXMS '86 WLEPPFIWTIGMJMIHF]XLITYVGLEWIV
& (SYFPIFPSGOERHFPIIH (&& ZEPZIW ;MXLXLIZEPZILEPJSTIRXLIZEPZIERHMXWGEZMX]WLEPPFIGSQTPIXIP]JMPPIH[MXLXIWXJPYMH8LIZEPZIWLEPPXLIR FIGPSWIH ERH XLI ZEPZIFSH] ZIRXZEPZISTIRIH XS EPPS[ I\GIWWXIWXJPYMH XS SZIVJPS[ JVSQXLI ZEPZIGEZMX] XIWXGSRRIGXMSR8LIXIWXTVIWWYVIWLEPPFIETTPMIHWMQYPXERISYWP]JVSQFSXLZEPZIIRHW 7IEXXMKLXRIWWWLEPPFIQSRMXSVIHZMESZIVJPS[XLVSYKLXLIZEPZIGEZMX]GSRRIGXMSR
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
& (SYFPIMWSPEXMSRERHFPIIH(-& SRIWIEXYRMHMVIGXMSREPERHSRIWIEXFM HMVIGXMSREP 8LIFMHMVIGXMSREPWIEXWLEPPFIXIWXIHMRFSXLHMVIGXMSRW 'EZMX]VIPMIJZEPZIWWLEPPFIVIQSZIHMJJMXXIH8LIZEPZIERHGEZMX]WLEPPFIJMPPIH[MXLXIWXJPYMH[MXLXLIZEPZI LEPJSTIRYRXMPXLIXIWXJPYMHSZIVJPS[WXLVSYKLXLIGEZMX]VIPMIJGSRRIGXMSR 8S XIWX JSV WIEX PIEOEKI MR XLI HMVIGXMSR SJ XLI GEZMX] XLI ZEPZI WLEPP FI GPSWIH 8LI XIWX TVIWWYVI WLEPP FI ETTPMIHWYGGIWWMZIP]XSIEGLZEPZIIRHXSXIWXIEGLWIEXWITEVEXIP]JVSQXLIYTWXVIEQWMHI0IEOEKIWLEPPFI QSRMXSVIHZMEXLIZEPZIGEZMX]TVIWWYVIVIPMIJGSRRIGXMSR 8SXIWXXLIFMHMVIGXMSREPWIEXJVSQXLIGEZMX]XIWXTVIWWYVIWLEPPFIETTPMIHWMQYPXERISYWP]XSXLIZEPZIGEZMX] ERHYTWXVIEQIRH1SRMXSVPIEOEKIEXXLIHS[RWXVIEQIRHSJXLIZEPZI
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%RRI\' MRJSVQEXMZI
7YTTPIQIRXEV]HSGYQIRXEXMSRVIUYMVIQIRXW
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LEVHRIWWXIWXVITSVXSRTVIWWYVIGSRXEMRMRKTEVXW
K LEVHRIWWXIWXVITSVXSRTVIWWYVIGSRXVSPPMRKTEVXW L GIVXMJMGEXISJGSRJSVQERGIXSXLMW-RXIVREXMSREP7XERHEVH M
LIEXXVIEXQIRXGIVXMJMGEXMSRVIGSVHW IKGLEVXW
N
HIWMKRGEPGYPEXMSRWJSVTVIWWYVIGSRXEMRMRKTEVXWERHSVXLIHVMZIXVEMR
O HIWMKRGEPGYPEXMSRWJSVTVIWWYVIGSRXVSPPMRKTEVXW P
TVIWWYVIXIWXVITSVX MRGPYHMRKTVIWWYVIXIWXHYVEXMSRXIWXQIHMYQERHEGGITXERGIGVMXIVME
Q 2()TIVWSRRIPUYEPMJMGEXMSRVIGSVHW R GSEXMRKTPEXMRKGIVXMJMGEXMSR S 2()TVSGIHYVIW T GEPMFVEXMSRVIGSVHW TYVGLEWIVXSMHIRXMJ]VIUYMVIQIRXWJSVIUYMTQIRX[LIRSVHIVMRK U JMVIX]TIXIWXGIVXMJMGEXI V
QEXIVMEPMRWTIGXMSRGIVXMJMGEXIWMREGGSVHERGI[MXL-73SV)2EWETTPMGEFPI XLITYVGLEWIV WLEPPWTIGMJ]XLIX]TISJGIVXMJMGEXMSRERHJSV[LMGLTEVXW[LIRSVHIVMRK
W HIWMKRZIVMJMGEXMSRF]GIVXMJMGEXMSRFSH]EKIRG] X
X]TIETTVSZEPF]GIVXMJMGEXMSRFSH]EKIRG]
Y MRWXEPPEXMSRSTIVEXMSRERHQEMRXIRERGIMRWXVYGXMSRWQERYEPW Z KIRIVEPEVVERKIQIRXWHVE[MRKW [ GVSWWWIGXMSREPHVE[MRKW[MXLTEVXWERHQEXIVMEPWPMWX \ JPS[GSIJJMGMIRX ZSV Z ] GYVVIRXUYEPMX]QEREKIQIRXW]WXIQGIVXMJMGEXI 'ST]VMKLX%QIVMGER4IXVSPIYQ-RWXMXYXI
-73 ) %4-7TIGMJMGEXMSR(-73
%RRI\( MRJSVQEXMZI 4YVGLEWMRKKYMHIPMRIW
( +IRIVEP 8LMWERRI\TVSZMHIWKYMHIPMRIWXSEWWMWXXLITYVGLEWIV[MXLZEPZIX]TIWIPIGXMSRERHWTIGMJMGEXMSRSJWTIGMJMG VIUYMVIQIRXW[LIRSVHIVMRKZEPZIW
( *MIPHXIWXMRK 4VIWWYVIW HYVMRK XLI XIWXMRK SJ MRWXEPPIH ZEPZIW WLSYPH RSX I\GIIH XLI TVIWWYVI VEXMRK SJ XLI ZEPZI F] QSVI XLER [LIR XIWXMRK [MXL XLI ZEPZI TEVXMEPP] STIR SV F] QSVI XLER [LIR XIWXMRK EKEMRWX E GPSWIH ZEPZI 8IWXWWTIGMJMIH[MXLXLIZEPZILEPJSTIRQE]EPWSFITIVJSVQIH[MXLXLI ZEPZIJYPP]STIRTVSZMHIHXLI FSH] GEZMX]MWWMQYPXERISYWP]JMPPIHERHTVIWWYVM^IHXLVSYKLEGEZMX]GSRRIGXMSR 238)
8LIQE\MQYQXIWXTVIWWYVIJSVZEPZIWJMXXIH[MXLERI\XIVREPTVIWWYVIVIPMIJGERFIPS[IV WII
( 4VIWWYVIVIPMIJ 'IVXEMRZEPZIHIWMKRWXVETTVIWWYVIMRXLIZEPZIFSH]GEZMX][LIRXLIZEPZIMWMRXLIJYPP]STIRERHSVGPSWIH TSWMXMSR,MKLMRXIVREPTVIWWYVIWGERVIWYPXJVSQXLIXLIVQEPI\TERWMSRSJXLIJPYMHXVETTIHMRXLIWIGSRJMRIH EVIEW -J XLI ZEPZI LEW RS WIPJVIPMIZMRK HIWMKR TVSZMWMSR TVIWWYVIVIPMIJ JMXXMRKW WLEPP FI JMXXIH MR XLI ZEPZI FSH] MR EGGSVHERGI[MXL
( 4MKKMRK 8LI TYVGLEWIV WLSYPH I\EQMRI XLI ZEPZI HIWMKR JSV TMKKEFMPMX] [LIR SVHIVMRK ZEPZIW JSV YWI MR TMTIPMRIW VIUYMVMRKTMKKMRK 238) :IRXYVM SV VIHYGIHFSVI ZEPZIW EVI RSXWYMXEFPI JSV QSWX TMKKMRKSTIVEXMSRWMRGPYHMRK MRXIPPMKIRX TMKKMRK FYX GEREPPS[XLITEWWEKISJJSEQTMKW 238) %ZEPZIMR[LMGLXLIHVMZIQIQFIVSVXLISFXYVEXSVSFWXVYGXWXLIFSVIMRXLISXLIV[MWIJYPP]STIRTSWMXMSR IK EHYEPTPEXIGLIGOZEPZI MWRSXTMKKEFPI 238)
'IVXEMRJYPPSTIRMRKZEPZIW[MXLTSGOIXWGEREPPS[F]TEWWSJJPYMHEVSYRHEWLSVXTMKSVWTLIVI
( *MVIX]TIXIWXMRK 8LIJMVIVIWMWXERGIHIWMKRSJZEPZIWWLEPPFIUYEPMJMIHF]JMVIX]TIXIWXMRKMREGGSVHERGI[MXL-73 *MVI VIWMWXERGI HIWMKRW EPVIEH] UYEPMJMIH XS -73 %4-*% %4-*' %4-*( SV %4- EVI EPWS EGGITXEFPI 'ST]VMKLX%QIVMGER4IXVSPIYQ-RWXMXYXI
-73 ) %4-7TIGMJMGEXMSR(-73
( %HHMXMSREPXIWXMRK
8LITYVGLEWIVWLEPPWTIGMJ]ER]EHHMXMSREPXIWXVIUYMVIQIRXWRSXGSZIVIHF]XLMW-RXIVREXMSREP7XERHEVH
( :EPZIHEXEWLIIX 8LIZEPZIHEXEWLIIXMR8EFPI(GERFIYWIHXSEWWMWX[MXLXLIWTIGMJMGEXMSRSJZEPZIWJSVSVHIVMRK
( -RJSVQEXMSRXSFITVSZMHIH 8EFPI(TVSZMHIWEPMWXSJMRJSVQEXMSRXLEXMXMWRIGIWWEV]JSVXLITYVGLEWIVERHSVQERYJEGXYVIVXSTVSZMHI
DDDDDDDDDDDDD
'ST]VMKLX%QIVMGER4IXVSPIYQ-RWXMXYXI
-73 ) %4-7TIGMJMGEXMSR(-73
8EFPI(h:EPZIHEXEWLIIX
1EXIVMEPWSJGSRWXVYGXMSR CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC :EPZIPSGEXMSRERHJYRGXMSR CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 2SQMREPZEPZIWM^ICCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 1E\MQYQSTIVEXMRKTVIWWYVI CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 1E\MQYQJMIPHXIWXTVIWWYVI WII'PEYWI( CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC :EPZITVIWWYVIGPEWW CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 1E\MQYQWIVZMGIXIQTIVEXYVICCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 1MRMQYQWIVZMGIXIQTIVEXYVI CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 0MUYMHSVKEWWIVZMGI CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC *PS[QIHMYQGSQTSWMXMSR CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 7TIGMEPJPS[VIUYMVIQIRXW&PS[HS[RWSPMHWTMKWIXG CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC :EPZI 8]TISJZEPZI CCCCC +EXI CCCCCCCCCCCC 4PYK CCCCCCCCCCCC &EPPCCCCCCCCCCCCCC 'LIGO CCCCCCCCCCC (IWMKRX]TI CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC *YPPVSYRHSTIRMRKVIUYMVIH#CCCCCCCCCCCCCCCCCCCCCCCCCCCCC 1MRMQYQFSVI CCCCCCCCCCCCCCCCCCCCCCCCCCC )RHGSRRIGXMSRW 9TWXVIEQTMTI3( CCCCCCCCCCCCCCCCCCC -( CCCCCCCCCCCCCCCCCCCCCCCCCCCCC1EXIVMEP CCCCCCCCCCCCCCCCCC *PERKIHIRH#=IWCCCCCCCC 2S CCCCCCCCCCC
4PEMRVEMWIHJEGISVVMRKNSMRX# CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
-JVMRKNSMRXJPEXSVVEMWIHJEGI# CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
7M^IERHTVIWWYVIGPEWWEWTIV%71)& SV17774 CCCCC SV%71)&7IVMIW%CCCCCC
6MRKKEWOIXSVSXLIVKEWOIXX]TIERHWM^I CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 2SXI
+EWOIXWEVIRSXJYVRMWLIHEWETEVXSJXLIZEPZI
;IPHMRKIRH#=IWCCCCCCCC 2S CCCCCCCCCCC
%XXEGLWTIGMJMGEXMSRWJSV[IPHMRKIRHGSRJMKYVEXMSR
7TIGMEPJPERKIWSVQIGLERMGEPNSMRXW# CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC (S[RWXVIEQTMTI3( CCCCCCCCCCCCCCCCC -( CCCCCCCCCCCCCCCCCCCCCCCCCCC 1EXIVMEP CCCCCCCCCCCCCCCCCC *PERKIHIRH#=IWCCCCCCCC 2S CCCCCCCCCCCCCCCCCCCCCCCCC
4PEMRVEMWIHJEGISVVMRKNSMRX# CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
-JVMRKNSMRXJPEXSVVEMWIHJEGI# CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
7M^IERHTVIWWYVIGPEWWEWTIV%71)& SV17774 CCCCCC SV%71)&7IVMIW%CCCC
6MRKKEWOIXSVSXLIVKEWOIXX]TIERHWM^I CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 2SXI
+EWOIXWEVIRSXJYVRMWLIHEWETEVXSJXLIZEPZI
;IPHMRKIRH#=IWCCCCCCCC 2S CCCCCCCCCCCCC
%XXEGLWTIGMJMGEXMSRWJSV[IPHMRKIRHGSRJMKYVEXMSR
7TIGMEPJPERKIWSVQIGLERMGEPNSMRXW# CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 0IRKXL%R]WTIGMEPVIUYMVIQIRXWJSVIRHXSIRHSVJEGIXSJEGIHMQIRWMSRW# CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
'ST]VMKLX%QIVMGER4IXVSPIYQ-RWXMXYXI
-73 ) %4-7TIGMJMGEXMSR(-73
8EFPI( GSRXMRYIH
:EPZISTIVEXMSR -WKIEVFS\[MXLLERH[LIIPVIUYMVIH#-JWSKMZIHIXEMPW CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC *SVELERH[LIIPSRELSVM^SRXEPWLEJXKMZIHMWXERGIJVSQGIRXVIPMRISJZEPZISTIRMRKXSLERH[LIIP CCCCCCCCCC QQ 3V JSV E LERH[LIIP SR E ZIVXMGEP WLEJX KMZI HMWXERGI JVSQ GIRXVIPMRI SJ ZEPZI STIRMRK XS GIRXVI SJ VMQ SJ LERH[LIIP CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC QQ 238)
*SVTPYKZEPZIWLEZMRKPSSWI[VIRGLIWMXMWRIGIWWEV]XSSVHIV[VIRGLIWWITEVEXIP]
;VIRGLVIUYMVIH#CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 0SGOMRKHIZMGIVIUYMVIH# CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
8]TI CCCCCCCCCCCCCCCCCCCCCCCCCCCC
:EPZIWYTTSVX 7YTTSVXVMFWSVPIKWVIUYMVIH# CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 3XLIVVIUYMVIQIRXW 7YTTPIQIRXEV]VIUYMVIQIRXW WII%RRI\&ERH%RRI\' CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC *MVIXIWXHIWMKR#=IW CCCCCCCCCCC 2S CCCCCCCCCCCC
-73 EPPTEVXW #=IW CCCCCC 2S CCCCCCCCCCCC
4VIWWYVIVIPMIJ-JTVIWWYVIVIPMIJHIZMGIWEVIVIUYMVIHEVIXLIVIWTIGMEPVIUYMVIQIRXWJSVXLIWIHIZMGIW# CCCCCCCCCCC (VEMRGSRRIGXMSRW%R]VIUYMVIQIRXW#CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC &]TEWWGSRRIGXMSRW%R]VIUYMVIQIRXW# CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 7YTTPIQIRXEV]HSGYQIRXEXMSRVIUYMVIH# WII%RRI\' CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 8LMVHTEVX][MXRIWWSJTVSGIWWIWXIWXMRK CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC 4EMRXMRKSVGSEXMRKVIUYMVIH# CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
DDDDDDDDDDDDD
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8EFPI(h7YQQEV]SJMRJSVQEXMSRRIIHIHXSFITVSZMHIHF]QERYJEGXYVIVERHSVTYVGLEWIV
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6IHYGIHFSVIWM^IWSXLIVXLERXLSWIWLS[RMRXEFPIW
4
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4
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4
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4
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1
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%
4VIWWYVIVIPMIJMJVIUYMVIHJSVKEWWIVZMGI
%
6IUYMVIQIRXWJSVMRWIVZMGIXIWXMRK
4
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8LVIEHTVSJMPIW
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7IEPERXMRNIGXMSR
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6IUYMVIQIRXJSVI\XIRHIHHVEMRZIRXSVMRNIGXMSRTSMRXW
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7IGYVMRKSJHVEMRZIRXERHWIEPERXPMRIW
%
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4
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1
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Z
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8EFPI( GSRXMRYIH 'PEYWIWYFGPEYWI
4VSZMHIVE
0MJXMRKTSMRXW
%
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1
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4
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4
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%
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4
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%
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%
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%
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7SYVWIVZMGIVIUYMVIQIRXW
4
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4
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%
8LVSYKL[EPP[IPHVITEMVW
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