Newspaper of Rohnert Park Cotati Penngrove

Transcription

Newspaper of Rohnert Park Cotati Penngrove
1)$!7
!1#(
%620!0%1 /&
/(.%13
!1+
/3!3)
%..'1/5%
(%
/(.%13 !1+
$4,3 01/'1!-2
>; +884 -2<,><<287 0;8>9 6..=< 7.A= 87
$>.<-*B *;,1
-2<,><<270 E $;.. ;8@<
27 ;8845B7F +B .==B #62=1 892.< 8/ =1.
+884 *;. *?*25*+5. *= =1. 52+;*;B 27/8;6*=287
-.<4
!2)# ,)"1!17 .3%1.%3
.*;7 =8 ><. =1. 52+;*;B ,*=*580 *7- -*=*
+*<.< 87 $>.<-*B *;,1
/;86
*6
#207 >9 27 *-?*7,. *< <9*,. 2< 5262=.- =8 /8>;
9.895. )8> ,*7 <207 >9 27 9.;<87 *= =1. ;./.;
.7,. 27/8;6*=287 -.<4 8; ,*55
.A=
/3!3) (!-"%1 6%,#/-%2 43(782
/(.%13 !1+ /,)#% /'2
* 6 !;8@5.; ;.98;=.- 87
8;;*27. =
* 6 !.==B =1./= ;.
98;=.- 87 "!(
*6
*;,8=2, ;.02<=;*
=287 ;.98;=.- 87 2?2, .7=.; ;
*6
*==.;B ;.98;=.87 #7B-.; 7
9 6 7-2?2->*5 -;>74
27 9>+52, ;.98;=.- 87 866.;,.
5?9 6 !.==B =1./= ;.98;=.87 866.;,. 5?9 6 !.==B =1./= ;.98;=.87 #*7=* 52,2* ;
9 6 ;>.5=B =8 *726*5<
;.98;=.- 87 ..7B ;
96
>;05*;B ;.98;=.87 "!(
*6
>=8 +>;05*;B ;.
98;=.- 87 #*7=* ;>C '*B
* 6 #=85.7 ?.12,5. ;.
98;=.- 87 8>7=;B 5>+ ;
*6
2= *7- ;>7 62<-.
6.*78; ;.98;=.- 87 866.;,.
5?9 6 !.==B =1./= ;.98;=.87 ?.5B7 ?.
9 6 &*7-*52<6 ;.98;=.87 *<,87 ;
96
>;05*;B ;.98;=.87 #7B-.; 7
9 6 7-2?2->*5 -;>74 27
9>+52, ;.98;=.- 87 866.;,.
5?96
B.*; 85- @86*7
*;;.<=.- /8; 9>+52, 27=8A2,*=287
?285*=287 8/ 9;8+*=287 62<-.
6.*78; 87 866.;,. 5?96
B.*; 85- 6*7 *;
;.<=.- /8; 8+<=;>,=287 98<<.<<287
8/ 7*;,8=2, ,87=;855.- <>+
<=*7,.< 8>=<2-. @*;;*7= /.587B
87 &*55.B 8><. ;
96
;>74 -;2?.; ;.
98;=.- 87 ".-@88- ; *= "!(
96
B.*; 85- 6*7 *;
;.<=.- /8; % -;2?270 @2=18>= *
52,.7<. 87 866.;,. 5?96
B.*; 85@86*7 *;;.<=.- /8; 98<<.<<287
8/ 7*;,8=2, ,87=;855.- <>+<=*7,.<
87 ".-@88- ;
98;=.- 87 *4 &2.@ 2;
96
>;05*;B ;.98;=.87 #*7=* ;>C '*B
96
>;05*;B ;.98;=.87 *==2,. 7
9 6 #=85.7 ?.12,5. ;.
98;=.- 87 ><27.<< !*;4 ;
9 6 *==.;B ;.98;=.- 87
5.*78; ?.
96
B.*; 85- 6*7 *;
;.<=.- /8; =1./= 98<<.<<287 8/
<=85.7 ?.12,5. ?285*=287 8/ 9;8
+*=287 87 ><27.<< !*;4 ;
9 6 !.==B =1./= ;.98;=.87 866.;,. 5?96
B.*; 85- 6*7 *;
;.<=.- /8; /*5<. 269;2<876.7=
*<<*>5= @2=1 273>;B =1;.*=.7270 =8
,8662= * ,;26. @2=1 27=.7= =8
* 6 #=85.7 ?.12,5. ;. =.;;8;2C. 87 5.*78; ?.
98;=.- 87 ".-@88- ;
9 6 ".,45.<< -;2?270
*6
B.*; 85- @86*7 ;.98;=.- 87 866.;,. 5?- *=
*;;.<=.- /8; 8>=<2-. @*;;*7=
85/ 8>;<. ;
/.587B 87 ".-@88- ;
96
;>74 -;2?.; ;.
*6
B.*; 85- 6*7 *; 98;=.- 87 2=B .7=.; ;
;.<=.- /8; 98<<.<<287 8/ * <=85.7
?.12,5. 98<<.<<287 8/ ,87=;855.<>+<=*7,.< ?285*=287 8/ 9;8+*
* 6 #=85.7 ?.12,5. ;.
=287 /.587B 87 ".-@88- ;
98;=.- 87 *;52=* 2;
96
;>74 -;2?.; ;.
* 6 #=85.7 ?.12,5. ;.
98;=.- 87 ".-@88- ;
98;=.- 87 7=.;9;2<. ;
9 6 !.==B =1./= ;.
* 6 >;05*;B ;.98;=.98;=.- 87 #7B-.; 7
87 ".-@88- ;
96
B.*; 85- 6*5.
96
B.*; 85- @86*7
*;;.<=.- /8; +>;05*;B 98<<.<<287 *;;.<=.- /8; +*==.;B ;.98;=.- 87
6*;23>*7* 98<<.<<287 8/ *5,8185 "*7,18 &.;-. 2;
87 #7B-.; 7
96
B.*; 85- 6*7 *;
9 6 ;*>- ;.98;=.- 87 ;.<=.- /8; /201=270 .A12+2=270 *
866.;,. 5?-.*-5B @.*987 87 866.;,.
96
;>74 -;2?.; ;.
5?9 6 ;*//2=2 ;.98;=.- 87
85/ 8>;<. ;
96
B.*; 85- 6*7 *;
;.<=.- /8; *<<*>5= @2=1 273>;B 87
8>+5.=;.. ;
96
;>74 -;2?.; ;.
(! .! &+%* 0. "+-
1!-3 -% 3 %#$/
++-. +,!*
)! / -/.
,)
,)
!#0(
3+0/.
03%*.
$! !*%+- !*/!- %* +$*!-/
0*/!- -
-'
(( ,-+ !! . /+ !*!"%/
222 -/-, +-#
!>+52<1.?.;B ;2-*B
.6+.;
*52/8;72* .@<9*9.; !>+52<1.;<
<<8,2*=287
!187.
55 .9*;=6.7=<
(
55 .9*;=6.7=<
D"817.;= !*;4 *52/8;72* 1)$!7
-*2+$ -
!1#(
002$ -
$*4$)#!3)/. '$ -++2,(15 -("$ 2< *7 *-3>-2,*=.- 7.@<9*9.; 8/
0.7.;*5 ,2;,>5*=287 27 *,,8;-*7,. @2=1 =1. 5*@< 8/ *52/8;72* +B -.,;..
7>6+.;
8/ =1. #>9.;28; 8>;= 8/ #8786* 8>7=B -*=.- >
0><=
*7- :>*52/2.- /8; 9>+52,*=287 8/ 6*==.;< ;.:>2;.- +B 5*@
=8 +. 9>+52<1.- 27 * 7.@<9*9.; 7 >0><=
=1. -.,;..
@*< 0;*7=.- +B =1. #>9.;28; 8>;= 8/ *52/8;72* =8 +. =1. .@<9*9.;
8/ 0.7.;*5 ,2;,>5*=287 /8; 2=B 8/ "817.;= !*;4
6.%12()0 '$ -++2,(15 -("$ 2< * <>+<2-2*;B 8/ $1. #1*1 *625B
* /*625B 8@7.- *7- 89.;*=.- +><27.<< 27 "817.;= !*;4
)22)/. 3!3%-%.3
$1. 866>72=B &82,. 2< 9>+52<1.- =8 9;8?2-. * /*2; *,,>;*=. 8+
3.,=2?. *7- 187.<= ?82,. /8; =1. ,866>72=B 2=< 5.*-.;< *7- +><27.<<.<
5.*-.;<129 =1*= ,87=;2+>=.< =8 =1. +.==.;6.7= 8/ 8>; ,866>72=B 27/8;
6*=287 =1*= ;./5.,=< 8>; ,866>72=B 27 .?.;B=1270 @. -8
'. @255 ,87=27>8><5B <.;?. *< =1. 5.*-270 27/8;6*=287 <8>;,. @125.
7.?.; ,869;862<270 8>; 9;27,295.< +B .A.;,2<270 8>; ;85. 8/ <..4270
9;*,=2,*5 <85>=287< *7- 9;8=.,=270 =18<. 52?270 @2=127 8>; ,866>72=B
)1#4,!3)/. 86. -.52?.;B =8 =1. ,866>72=2.< 8/ "817.;= !*;4
8=*=2 *7- !.770;8?. $8 <>+<,;2+. ,*55
%33%12 3/ 3(%
.==.;< $1. 866>72=B&82,. ,86
!),).' $$1%22 !
8A
"817.;= !*;4
(72)#!, $$1%22
!;8/.<<287*5 .7=.; ;2?.
"817.;= !*;4
%" 2)3% 444 '$ -++2,(15 -("$ "-+
- .*-527.<
,!22)&)%$ ).%12
* 6 $>.<-*B /8; =1. /8558@270 ;2-*B
)20,!7 !$2 9 6 ;2-*B /8; =1. /8558@270 ;2-*B
/(,1$# !5 $01$/, $!
1).3%$ /.
1%#7#,%$ 0!0%1
/)#%
/3!3) )"1!17 .%62
13 2(/6
;= A12+2=
@255 +. 87 -2<95*B 27 =1. 52
+;*;BG< ,866>72=B ;886 >7=25 #*=>;-*B *;,1
$12< <18@ /.*=>;.< =1. @8;4 8/ 727. 8>=
<=*7-270 #8786* 8>7=B *;=2<=<
'$ -1 1( ' +!$/ -% -++$/"$ /$"$,1*5 4$*"-+$# 21'5 0 $ * $ *0 -% -1 1( (,1- 1'$ %-*#
4(1' &/ ,# -.$,(,& /(!!-, "211(,& "$/$+-,5 /$0$,1 1 1'$ /(!!-, "211(,& 4$/$ *$%1 ' +
!$/ - /# +$+!$/ ,#/$ -//-4 -1 1( (15 -2,"(*4-+ , $,#5 )(**+ , ' +!$/ /$0(
#$,1 +( / #5 -4,$/ 21' $%)-4(16 ,# 01 %% -1 1(
5-/ -', $** 00- 4(1' 0"(00-/0
' +!$/ /$ 02/$/ 3-,,$ , 5)$ ,# ("$ /$0(#$,1 '$/($ '(.+ ,
$&$1 /( , ,# 3$& , *0- /$ 3 (* !*$ 21'570 $ * $ *0 (0 *-" 1$# 1
/ 3$,01$(,
45 2(1$ (, -1 1(
'-1- "-2/1$05 -% -1 1( ' +!$/ -% -++$/"$
/--4.)37
9;.<.7= $866BG< !2;*=. -?.7=>;. * 9>99.=
<18@ /8; *0.< *7- >9
!341$!7 3/173)-% 6)3( !- 1/6.
*= * 6 @255 +. =1.
#*=>;-*B *;,1
7.A= <=8;B=26. @2=1 !*6 ;8@7 /8; *0.<
;*/=< *7- <=8;2.< *;. *;8>7- =1. =1.6. 8/
E!*7-* !*;=B F
!-),7 5%.).' 3/173)-%
*625B ?.7270 #=8;B=26. /8; *0.< *7- >9
@255 +. 87 '.-7.<-*B *;,1
*=
96
#=8;2.< *7- />7 @.*; 9*3*6*< *7- +;270 =.--B
+.*;< 2/ B8> 524.
%!$ 3/ ! $/'
$1. ".*- =8 * 80 ;.*-270 9;80;*6 =*4.<
95*,. .*,1 '.-7.<-*B /;86
96
*7- .*,1 #*=>;-*B /;86
9 6 86. <207 >9
=1*= */=.;7887 =8 ;.*- =8 *7 *99;.,2*=2?. -80
78 9;80;*6 87 *;,1
@1.7 =1. 52+;*;B 2<
,58<.-
(),$1%.82 01/'1!-2
/1.).' 3/173)-%2 *+B=26. #=8;B=26.<
/8; ,125-;.7 *0.<
687=1< *;. 87 $1>;<-*B<
1/'1!- &/1 3%%.2
*= * 6 +.0277270 *;,1
'2005. $26.
#9;270 ;.*4 $;2?2* 1*55.70. /8; =..7< @255
#=8;B=26.< /8; =8--5.;< *0.<
687=1< *;.
=*4. 95*,. .?.;B -*B /;86 $>.<-*B *;,1
87 $1>;<-*B< *= * 6 +.0277270 *;,1
=1;8>01 #*=>;-*B *;,1
*7- !;.<,1885 #=8;B=26.< /8; ,125-;.7 *0.<
8695.=. =1. 52+;*;BG< =;2?2* ,1*55.70. *7*;. 87 ;2-*B< *=
* 6 +.0277270 *;,1
0.= * /;.. +884
01).' "1%!+ 0400%3 2(/6
7 $1>;<-*B *;,1
!>99.= ;= @255
55 .?.7=< *;. /;.. *7- 89.7 =8 =1. 9>+52,
8; 68;. 27/8;6*=287 ,*55 =1. 52+;*;B *=
8; ?2<2= @@@ <8786*52+;*;B 8;0
9 6 ".,4
5.<< -;2?270 ;.98;=.87 "!( *= #7B-.;
7
96
*;
,8=2, *,=2?2=B ;.
98;=.87
2--5.+;884 '*B
9 6 #>2
* 6 >;05*;B ;.98;=.- ,2-. =1;.*= ;.98;=.87 2+<87 =
87 8;7.55 ?.
9 6 ".,45.<< -;2?270
;.98;=.- 87 #*7 .72=8 ; *=
#*7=* ;>C '*B
*6
;*//2=2
9 6 !.==B =1./= ;.98;=.- ;.98;=.- 87 #=*=.
87 "*,:>.= 5>+ 2;
*;6 ;
9 6 ".,45.<< -;2?270
* 6 !.==B =1./= ;.98;=.;.98;=.- 87 "*7,18 &.;-. 2;
87 ><27.<< !*;4 ;
96
B.*; 85- @86*7
*6
2<<270 9.;<87 ;.
,2=.- /8; +*==.;B 87 ;*7,2< 2; 98;=.- 87 *6278 85.028
*6
B.*; 85- 6*7
*;;.<=.- /8; ?285*=287 8/ 9;8+*
*6
B.*; 85- 6*7 =287 87 *5*AB =
*;;.<=.- /8; /*5<. 2-.7=2/2,*=287
96
B.*; 85- 6*5.
98<<.<<287 8/ ,87=;855.- <>+ *;;.<=.- /8; ,87=;2+>=270 =8 -.527
<=*7,.< 9;8+*=287 @*;;*7= /.587B :>.7,B 87 7=.;9;2<. ;
87 ".-@88- ;
96
;<87 ;.98;=.- 87
* 6 8>7- ,125- ;.98;=.- #7B-.; 7
87 866.;,. 5?96
B.*; 85- 6*5.
96
B.*; 85- 6*7 ,2=.B.*; 85- 6*5. ,2=.- /8; ,*><
/8; ?285*=287 8/ 9;8+*=287 87 270 /2;. =8 9;89.;=B 87 #7B-.;
"!(
7
96
*;,8=2, *,=2?2=B
9 6 ".,45.<< -;2?270
;.98;=.- 87 #*7=* *;+*;* ;
;.98;=.- 87 #7B-.; 7
9 6 7-2?2->*5 -;>74 27
9 6 8>7- 9;89.;=B ;.
9>+52, ;.98;=.- 87 7=.;9;2<. ; 98;=.- 87 *+*=1 ?.
9 6 ;*>- ;.98;=.- 87
96
>;05*;B ;.98;=."*5.BG< $8@7. .7=;.
87 "!(
9 6 ;*>- ;.98;=.- 87
96
B.*; 85- 6*7
#*7=* *;+*;* ;
*;;.<=.- /8; 98<<.<<287 8/ ,87
96
B.*; 85- @86*7 =;855.- <>+<=*7,.< ?285*=287 8/
*;;.<=.- /8; 98<<.<<287 8/ ,87 9;8+*=287 87 866.;,. 5?=;855.- <>+<=*7,.< 87 2--5.
+;884 '*B
/3!3) /,)#% /'2
9 6 ;*//2=2 ;.98;=.- 87
#*7=* *;+*;* ;
*6
B.*; 85- 6*7 *;
;.<=.- /8; % 87 -;2*7 ;
9 6 #><92,28>< 8,,>
92.- ?.12,5. ;.98;=.- 87 #*7=.;8
'*B
96
B.*; 85- 6*7 *;
;.<=.- /8; -2<95*B270 /*5<. 9;88/
8/ ;.02<=;*=287 8>=<2-. @*;;*7=
/.587B 87
8=*=2 ?.
9 6 ;*>- ;.98;=.- 87
' #2.;;* ?.
<>+<=*7,.< 87 5
"*7,18 ;
96
2=
*7- ;>7 62<-.
6.*78; ;.98;=.87 ' #2.;;* ?.
96
8>7- 9;89.;=B
;.98;=.- 87 '
#2.;;* ?.
98;=.- 87 "8+.;=< *4. "96
B.*; 85- 6*7
*;;.<=.- /8; /201=270 8>=<2-.
@*;;*7= 62<-.6.*78; 87 86
6.;,. 5?96
;>74 -;2?.; ;.
98;=.- 87 866.;,. 5?-
* 6 !.==B =1./= ;.
98;=.- 87 ".-@88- ;
*6
B.*; 85- 6*7 *;
;.<=.- /8; *<<*>5= @2=1 273>;B 87
58/ #=
*6
B.*; 85- @86*7
,2=.- /8; 8>=<2-. @*;;*7= 62<-.
6.*78; 87 ' #2.;;* ?.
*6
B.*; 85- 6*7
*;;.<=.- /8; *<<*>5= @2=1 273>;B
98<<.<<287 8/ ,87=;855.- <>+
<=*7,.< 87 5 "*7,18 ;
96
B.*; 85- @86*7
,2=.- /8; 98<<.<<287 8/ ,87=;855.-
9 6 8<=
9;89.;=B ;.98;=.87
8=*=2 ?.
9 6 #><92,28>< ,2;,>6
<=*7,.< ;.98;=.- 87 '25/8;- 7
96
B.*; 85- 6*7 *;
;.<=.- /8; 8>=<2-. @*;;*7= /.587B
87 #>7/58@.; ;
9 6 #><92,28>< 8,,>
92.- ?.12,5. ;.98;=.- 87 ;*?.7
<=.27 @B
96
B.*; 85- @86*7
*;;.<=.- /8; 8>=<2-. @*;;*7= 62<
-.6.*78; 87 58/ #=
9 6 8>7- 9;89.;=B ;.
98;=.- 87 '*57>= 2;
96
;>74 -;2?.; ;.
98;=.- 87 @B
96
B.*; 85- 6*7
*;;.<=.- /8; 9>+52, 27=8A2,*=287
87
8=*=2 ?.
* 6 7-2?2->*5 -;>74
27 9>+52, ;.98;=.- 87 '25/8;2;
*6
B.*; 85@86*7 ,2=.- /8; 98<<.<<287 8/
/*5<.
87 5- ".-@88- @B
*6
2<=>;+*7,. ;.
98;=.- 87 #2.;;* ?.
9 6 !.==B =1./= ;.98;=.87 ".-@88- ;
96
8<= 9;89.;=B ;.
98;=.- 87 ' #2.;;* ?.
9 6 !.==B =1./= ;.98;=.87
8=*=2 ?.
9 6 !.==B =1./= ;.98;=.8=*=2 ?.
9 6 !.==B =1./= ;.98;=.87 @B
87
96
;.98;=.- 87
96
87
8=*=2
96
87 @B
+*7-87.- ?.12,5.
*4.@88- ?.
!.==B =1./= ;.98;=.?.
!.==B =1./= ;.98;=.-
*6
2<=>;+*7,. ;.
98;=.- 87 '25/8;- 7
%
#!!(" '+
#
*&$ $ % #
# " %'
%
#' '
"" %#)
%
+
%
(&PB 0E83 668>
384B 8= 0:4AB584;3
2A0B7 >= #0A27
>8=6 0=HC78=6 4E4AHC78=6
C> 74;? (& =8<0; )74;C4A
&
&
H $0C0;84 A0H
C 20= 14 B083 F8C7 6A40C 2>=
5834=24 C70C 74AH; DAA84A 8B 0=
0E83 ?4C 4=C7DB80BC 0=3 0;;
0A>D=3 0=8<0; ;>E4A
)74 70B 144= E>;D=C44A8=6
0=3 F>A:8=6 F8C7 C74 (>7=4AC
&0A: =8<0; )74;C4A 5>A C74 ?0BC
=8=4 H40AB =>F 0=3 4E4= F8C7
C70C B74 B0HB 8C 544;B ;8:4 C8<4
70B 6>=4 1H @D82:;H )74 70B
144= B8CC8=6 >= C74 1>0A3 >5 C74
=8<0; )74;C4A "406D4 >5
(>7=4AC &0A: 5>A B8G >5 C7>B4
H40AB B4AE8=6 8= 0;<>BC 4E4AH
?>B8C8>= 8=2;D38=6 ?A4B834=C
-74= H>D 20;; 74A 0=3 A4027
74A E>824<08; H>D 0A4 0=
BF4A43 1H 0II C74 M03>A01;4
3>6 C70C ;8E4B 74A4 N .4B DA
A84APB ;>E4 >5 0=8<0;B 8B @D8C4
2;40A 0B 8B 74A 343820C8>= C>
C7>B4 0=8<0;B 0=3 B74 B44<B C>
;>E4 4E4AH <><4=C >5 C74 F>A:
M CPB A40;;H 5D;58;;8=6 N B083
DAA84A >5 74A F>A: 5>A C74 B74;
C4A 0=3 C74 )" M*74 B74;C4A
70B 0 B?4280; B?>C 8= <H 740AC
5>A <4 N
& #" #
% %
DAA84A F>A:B 5>A 8A4<0=PB
D=3 =BDA0=24 8= $>E0C> 1DC
F8C7 C74 0<>D=C >5 E>;D=C44A
F>A: 0=3 455>AC B74 70B ?DC 8=C>
C74 0=8<0; B74;C4A 0=3 8CB
;406D4 8C 2>D;3 40B8;H 14 2>=
B834A43 0 B42>=3 5D;; C8<4 9>1
DAA84A 8B =>C ?083 5>A 0=H >5
C74 F>A: = 502C <>BC >5 74A
F>A: 8=E>;E4B CAH8=6 C> 58=3 0=3
A08B4 <>=4H 5>A C74 B74;C4A C>
:44? C74 5028;8C84B 2;40= 0=3 D?
30C43 0=8<0;B 740;C7H 58G43
0=3 <82A> 278??43 0=3 03>?
C8>=B 70??4=8=6
*74 )" 8B 0 =>=?A>58C >A
60=8I0C8>= C70C <44CB >=24 0
<>=C7 C> 38B2DBB B74;C4A 0=3
2><<D=8CH 4E4=CB 5D=3A08B8=6
>??>ACD=8C84B 0=3 C> B85C C7A>D67
8340B C70C F>D;3 14=458C C74
B74;C4A 0=3 8CB 0=8<0;B 8= 0=H
F0H ?>BB81;4 DAA4=C;H DAA84A
B8CB 0B ?A4B834=C >5 C74 1>0A3
1DC 4;42C8>=B 0A4 B2743D;43 ;0C4A
C78B <>=C7 )74 3>4B=PC B44<
C>> 2>=24A=43 01>DC C74
?A>B?42C >5 ;>B8=6 74A ?;024 0B
B74 70B F>A:43 L 0=3 70??8;H
B> L 4E4AH ?>B8C8>= >= C74
1>0A3 *74 1>0A3 8B <034 D? >5
5>DA >C74A B8<8;0A <8=343 E>;
D=C44AB 0=3 ;>H0; 0II 022><
?0=84B 74A M<><N C> 4E4AH
<44C8=6
&& &' "
* +& "
22>A38=6 C> DAA84A C74A4 8B
0;F0HB 0 =443 5>A 0BB8BC0=24
*" 0=3 0 ;8CC;4 <>A4 20B7 0C
C74 B74;C4A =8<0;B 0A4 >5C4=
1A>D67C 8= B82: >A 8=9DA43 B74
A420;;B 0 A424=C 3A>? >55 3>6
1A>D67C C> C74 B74;C4A F8C7 CF>
1A>:4= ;46B 0=3 E4C 18;;B B8<
?;H 0A4 =>C 2740? *7>D67 ;>20;
E4C4A8=0A80=B 68E4 B74;C4A 0=8
<0;B 0 6>>3 340; 8C >5C4= BC8;;
8B=PC 4=>D67 C> ?0H C74 3D4B
0=3 B><4C8<4B C74 B74;C4A 0=3
28CH 9DBC 3>=PC 70E4 C74 <40=B
H 0E4 -8;;80<B
(>7=4AC &0A: <0= F7> F0B
0 BC0C4 ?0A>;4 064=C 0=3 0 50C74A
>5 CF> 3843 )0CDA30H 8= 0:4AB
584;3 8= 0 7403 >= 0DC><>18;4
2>;;8B8>=
0E83 >B4?7 668>
3843
8=BC0=C;H 0=3 78B F854 !0C7;44=
BD554A43 <8=>A 8=9DA84B F74= 0=
>C74A E4782;4 2A0B743 8=C> C748A
20A 022>A38=6 C> C74 0:4AB584;3
&>;824 4?C )74 F0B CA40C43 0=3
A4;40B43 5A>< 0 0:4AB584;3 7>B
?8C0; 5>A 8=9DA84B C70C 8=2;D343
5>DA 1A>:4= 1>=4B 0=3 2DCB C> 74A
544C 0=3 5024 5A>< 5;H8=6 6;0BB
22>A38=6 C> ?>;824 C74
3A8E4A
H40A >;3 (>3>;5> >=
CA4A0B F0B 74038=6 B>DC71>D=3
8= 0 F78C4 >=30 8E82 >= )C>2:
30;4 867F0H F74= 74 0;;4643;H
B?43 C7A>D67 0= 8=C4AB42C8>= >= 0
H4;;>F ;867C BCAD2: 0=3 9D<?43
0 A08B43 <438D< 2A0B743 8=C>
0=3 B740A43 >55 C74 5A>=C 4=3 >5
668>PB 1;D4 >A3 G?;>A4A
0:4AB584;3 ?>;824 BDB?42C
>=CA4A0B <0H 70E4 144= D=34A
C74 8=5;D4=24 >5 3AD6B >A 0;2>7>;
0=3 F0B 03<8=8BC4A43 0 1;>>3
C4BC 1DC A4BD;CB 0A4 =>C H4C 0E08;
01;4
*78B F0B =>C >=CA4A0BP 58ABC
AD= 8= F8C7 C74 ;0F =
>=CA4A0B F0B 0AA4BC43 5>A 54;>=H
?>BB4BB8>= >5 0 2>=CA>;;43 BD1
BC0=24 54;>=H CA0=B?>AC8=6 0 2>=
CA>;;43 BD1BC0=24 0=3 3A8E8=6
F8C7>DC 0 ;824=B4 0= 8=5A02C8>=
*74 CA0=B?>AC8=6 270A64 F0B 38B
<8BB43 C74 ?>BB4BB8>= 270A64
F0B 3454AA43 0=3 >=CA4A0B
?;40343 => 2>=C4BC C> 3A8E8=6
F8C7>DC 0 ;824=B4 022>A38=6 C>
C74 A42>A3B
668> F0B 8= 0:4AB584;3 E8B
8C8=6 78B F854 C4<?>A0A8;H F>A:
8=6 8= 0:4AB584;3
4 F0B 0 5>A<4A )0= 'D4=C8=
?A8B>= 6D0A3 74 F>A:43 5>A
H40AB 0B 0 ?0A>;4 >55824A 8= )0=C0
(>B0 0=3 8= C74 DA4:0 &0A>;4
+=8C
668>PB 4G F854 !0=3024
#8;;7>DB4 >5 (>7=4AC &0A: C74
<>C74A >5 78B CF> 278;3A4=
!0H;0
0=3 D;80=
B083 74
F0B 0= 0<0I8=6 50C74A
M 4 F0B C74 :8=3 >5 <0= C70C
F0B 0;F0HB C74A4 5>A 78B 278;
3A4= N #8;;7>DB4 C>;3 C74 0:
0;85>A=80=
M 8B
4AB584;3
278;3A4= F4A4 $> 0=3 74 =4E4A
<8BB43 60<4B N 3A8E8=6 C7>D
B0=3B >5 <8;4B >E4A C74 H40AB C>
F0C27 C74< 2><?4C4
>C7 :83B FA4BC;43 D;80= 0;B>
?;0H43 5>>C10;; 145>A4 9>8=8=6
C74 $0EH 4PB BCD3H8=6 <438
28=4 0C 0;85>A=80 )C0C4 +=8E4A
B8CH 782>
!0H;0 F0B 0
CF> C8<4 ;; <?8A4 -A4BC;4A >5
C74 .40A 8= )>=><0 >D=CH 0=3
=>F FA4BC;4B 5>A %:;07><0 8CH
+=8E4AB8CH
M !0H;0 B 303 F0B 74A A>2:
F74= 8C 20<4 C> FA4BC;8=6 N #8;;
7>DB4 B083 M)74 B 144= :82:8=6
1DCC 3>F= 8= %:;07><0 4E4A
B8=24 N
*74 2A0B7 A4<08=B D=34A 8=
E4BC860C8>= 0=3 => 2A8<8=0;
270A64B 70E4 144= 58;43 0B >5
-43=4B30H #0A27
%' "
#%
&!#
' '#%&
& ) #! "
#
"
!
C> 5D=3 C74 <43820; 0CC4=C8>=
*70C 8B F74A4 C74 )" BC4?B 8=
M-4 9DBC 74;? BD??>AC C74
B74;C4A F74A4 C74 28CH 20=PC N
B083 DAA84A
= C74 H40AB B8=24 8CB 5>D=3
8=6 C74 ;406D4 70B 74;?43 ?0H
5>A =4F &;4G86;0B 3>>AB 5>A 0=8
<0; :4==4;B 70;5 >5 C74 =4F
:4==4;B C74 B74;C4APB BD<<4A
20<? ?A>6A0< 0=3 8CB 022><?0
=H8=6 584;3CA8?B *74 )" 0;B>
3>=0C4B 0=8<0; 20A4 0=3
5A84=3;H 278;3A4= 1>>:B C> C74
;>20; ;81A0AH
$$
!
?4CB 0=3 =48671>AB *78B 4E4=C
0;B> 0;;>FB 5>A A4B834=CB ;>20;
B27>>;B 2;D1B 0=3 ))+ BCD34=CB
C> 2><4 C>64C74A 0B 0 2><<D
=8CH F8C7 0 2><<>= 6>0;
#" + #%
' " & "!
*74 ?A>2443B 5A>< C74 )CADC
2>=CA81DC4 C> 0;; C78=6B 0=8<0;
B74;C4A F74C74A 8C 14 5D=38=6
<82A>278?B 0=3 C06B >C74A <43
820; 4G?4=B4B >A 4E4= 9DBC 5>>3
>A 14338=6 5>A 0=8<0;B
M CPB B> <D27 5D= N B083 DA
A84A >5 C74 #DCC )CADC M CPB >=4
>5 C7>B4 4E4=CB F74A4 H>D C78=:
('' '%(',& '
#"
O F8B7 383=PC 70E4 C> F>A:
C 8B C74 #DCC )CADC C7>D67
C78B F0=C C> 2><4 0=3 70E4
C70C 20= 14 20;;43 DAA84APB ?4A 5D= 8=BC403 PN
B>=0; ?A>942C )74 B?40A7403B
"0BC H40A 0II A4?A4B4=C43
C74 4E4=C =>F 4=C4A8=6 8CB 585C7 C74 #DCC )CADC 0B C74 ?A>6A0<PB
H40A
M)?>:4B &D? N 0= 0F0A3
*74 #DCC )CADC 8B >=4 ?0AC
6A0=C43 5>A DAA84A A08B8=6 C74
F0;: 0 C7>= >=4 ?0AC ?4C 508A4
<>BC <>=4H 5>A 0=H 8=38E83D0;
0=3 0;; ?0ACB C74 ;0A64BC
0C C74 #DCC )CADC
5D=3A08B4A >5 C74 H40A 5>A C74
&A4?0A0C8>=B 5>A C78B H40APB
0=8<0; B74;C4A C 8B 0= 4E4=C
#DCC )CADC 1460= C78B ?0BC F44:
D=8@D4 C> C74 (>7=4AC &0A: =8 0C 0= )" <44C8=6 1DC 0;A403H
<0; )74;C4A 0=3 >554AB ?4C ?0A
DAA84A 14;84E4B B74 :=>FB 4G
4=CB 0=3 B74;C4A BD??>AC4AB C74
02C;H F70C C74 4E4=C =443B C> 14
270=24 C> 74;? A4B2D4 0=8<0;B
0 BD224BB #>A4 F0;:4AB F7>
F78;4 70E8=6 5D= F8C7 C748A >F= >5 2>DAB4 F>D;3 A08B4 <>A4
!
<>=4H 5>A C74 B74;C4A
)74 7>?4B C> 0CCA02C <>A4 ?4C
?0A4=CB C> 1A8=6 C748A >F= 3>6B
>DC C> C74 F0;: 1DC 0;B> F0=CB
C> A4<8=3 A4B834=CB C70C H>D 3>
=>C =443 0 ?4C 0=3 C70C C74 )CADC
F>D;3 4064A;H 0224?C 0=H
F0;:4A F0=C8=6 C> A08B4 0=3 3>
=0C4 <>=4H C> 74;? >DC
# ' " %#! % #"
DAA84A <>E43 C> (>7=4AC
&0A: 5A>< %A46>=
H40AB 06>
*74= B74 703 0=C828?0C43 C74
BC0H F>D;3 >=;H 14 5>A
H40AB
145>A4 B74 <>E43 102: =>AC7 C>
74A 7><4 BC0C4 )74 >5 2>DAB4
54;; 8= ;>E4 F8C7 C74 0A40 )74
1420<4 8=E>;E43 F8C7 C74 0=8
<0; B74;C4A B8<?;H 05C4A 34283
8=6 B74 F0=C43 C> E>;D=C44A 74A
C8<4 B><4F74A4 0=3 F0B
@D82:;H 343820C43 05C4A 0CC4=3
8=6 0 E>;D=C44A >A84=C0C8>=
7>BC43 1H B74;C4A BD?4AE8B>A
#82:4H /4;34B
0II F0B A42D43 5A>< C74
(>7=4AC &0A: =8<0; )74;C4A
74AB4;5 0=3 =4E4A B44<B C> C8A4
>5 74;?8=6 >DC >C74A 0=8<0;B
58=3 7><4B 9DBC ;8:4 B74 70B
5>D=3 F8C7 DAA84A
*74 8<?>AC0=24 >5 70E8=6
B<>:4 34C42C>AB 8=B834 C74 7><4
F0B =4E4A <>A4 2;40A C70= >=
#0A27 F74= C74 B>D=3 >5 0 58A4
0;0A< ?A><?C43 0= 0;4AC =4867
1>A C> 20;;
4E4= C7>D67 =>
B<>:4 >A 5;0<4B F4A4 4E834=C
*74 20;; 2>=24A=8=6 C74 7><4
>= 40C7 8A2;4 8= (>7=4AC &0A:
20<4 C> C74 (>7=4AC &0A: 4?C
>5 &D1;82 )054CH 0C 0A>D=3
0 < (& &) 58A4 4=68=4B A4
B?>=343 0=3 D?>= 0AA8E0;
2742:43 C74 >DCB834 >5 C74 A4B8
34=CB 5>A B86=B >5 0 58A4
=B834 (& &) 5>D=3 0 F>A:
8=6 58A4 8= C74 :8C274= >5 C74 A4B
834=24
*74 58A4 703 1DA=C D? 0 B834 >5
2018=4CB 0=3 F0B <>E8=6 02A>BB
C74 248;8=6
5D;; 58ABC 0;0A< 0BB86=<4=C
F0B 20;;43 5>A 1A8=68=6 8= 0338
C8>=0; (& &) >55824AB 0=3 4=
68=4B 5A>< C74 (0=27> 3>14
8A4 8BCA82C 0=3 (8=2>= ,0;;4H
)D??A4BB8>= C427=8@D4B 2>=
58=43 C74 58A4 C> >=4 B834 >5 C74
:8C274= 0=3 ?A4E4=C43 8C 5A><
B?A4038=6 8=B834 C74 7>DB4 >A
8=C> C74 0CC82 0A40 0<064 5A><
C78B 58A4 70B 144= 4BC8<0C43 0C
0A>D=3
*74 A4B834=CB F4A4 =>C 7><4
0C C74 C8<4 >5 C74 58A4 0=3 C748A
C7A44 3>6B F4A4 20A43 5>A 1H 0
=48671>A
M*78B 8B 0 6A40C 4G0<?;4 >5
F7H 8C 8B 8<?>AC0=C C> 70E4 F>A:
8=6 B<>:4 34C42C>AB 8= >DA
7><4B C70C 0A4 A46D;0A;H C4BC43 N
(& &) B083 8= 0 ?A4BB A4;40B4
M 5 =>C 5>A C74 @D82: 02C8>=B 0=3
0;4AC 40AB >5 0 2;>B4 =48671>A C78B
58A4 2>D;3 70E4 6>=4 D=34C42C43
5>A 0= 4GC4=343 ?4A8>3 >5 C8<4
20DB8=6 B86=85820=C;H <>A4 30<
064 N
*74 >A868= >5 C78B 58A4 A4<08=B
D=34A 8=E4BC860C8>= 1DC ?A4;8<8
=0AH 8=5>A<0C8>= 3>4B =>C ?>8=C
C> 0=HC78=6 BDB?828>DB
" ' ! ' %+
A8:0 &>D;C4A
8A
A8:0
>A24 (4B4AE4 8A<0=
&>D;C4A 6A03D0C43 5A><
10B82 <8;8
C0AH CA08=8=6
0C >8=C 0B4
)0= =C>=8>
"02:;0=3 8=
)0= =C>=8>
*4G0B
*74 08A
<0= 2><
?;4C43
0=
8=C4=B8E4
4867C F44: ?A>6A0< C70C 8=
2;D343 CA08=8=6 8= <8;8C0AH 38B28
?;8=4 0=3 BCD384B 8A >A24 2>A4
E0;D4B ?7HB820; 58C=4BB 0=3 10B82
F0A50A4 ?A8=28?;4B 0=3 B:8;;B
8A<4= F7> 2><?;4C4 10B82
CA08=8=6 40A= 5>DA 2A438CB C>F0A3
0= 0BB>280C4 8= 0??;843 B284=24
346A44 C7A>D67 C74 ><<D=8CH
>;;464 >5 C74 8A >A24
&>D;C4A 8B C74 30D67C4A >5
!0A4= 0=3 #0A8> ><4I >5
(>7=4AC &0A: )74 8B 0
6A03D0C4 >5 (0=27> >C0C4 867
)27>>;
A4=27 ?;0H B4C 8= -- 2><4B C> ))+ ?A8;
)>=><0 )C0C4 +=8E4AB8CH F8;;
?A4B4=C 0 B?42C02;4 01>DC C74
A4=27 (4B8BC0=24 0=3 4?>AC0
C8>= 3DA8=6 ->A;3 -0A
C70C
A4C4;;B C74 BC>AH >5 C74 F><4=
8<?A8B>=43 8= DB27F8CI
*74 A4=27 C740CA820; CA>D?4
&A>B?4A> #8A0=30 F8;; BC064 M 4
A4E84=B 34 ;0 EJA8CJ
(4CDA=
5A>< C74 *ADC7N 8= 2><<4<>A0
C8>= >5 C74
C7 0==8E4AB0AH >5
C74 18AC7 >5 DB27F8CI BDAE8E>A
0=3 0DC7>A 70A;>CC4 4;1> >=
?A8; 0C ? < 8= -0AA4= D
38C>A8D< E4B 0;;
*74 ?8424 8B 2><?A8B43 >5 4E>
20C8>=B 8=
5A06<4=CB >5 ;8E4B
?>ACA0H43 1H 4;1> 8= 74A ;>=64A
?;0H M-7> -8;; (4;0C4 *74B4
->A3B N 4;1> F7> F0B B4=C C>
C74 2>=24=CA0C8>= 20<? 5>A ?A8=C
8=6 0=3 38BCA81DC8=6 0=C8 $0I8
?0<?7;4CB 8= %22D?843 &0A8B
DB43 C740C4A 0B 0 F0H >5 7>;38=6
>= C> 7D<0=8CH
BC068=6
#>;8KA4PB M*74 <068=0AH =
E0;83N 5A>< <4<>AH F8C7 74A
54;;>F =>= 4F8B7 F><4= ?A8B
>=4AB 0;; >5 F7>< 703 8A>=8
20;;H 9DBC BDAE8E43 0 1>DC >5
CH?7DB (4CDA=8=6 C> &0A8B 05C4A
C74 F0A 4;1> B>D67C C> 68E4
F8C=4BB C> C74 0CA>28C84B >5 C74
20<?B 8= 74A FA8C8=6B
*74 ?A>3D2C8>= F8;; 14 4=
C8A4;H 8= A4=27 F8C7 BD?4AC8C;4B
8= =6;8B7 *74 4E4=C 8B B?>=
B>A43 1H C74 4?0AC<4=C >5
#>34A= "0=6D064B
"8C4A0
CDA4B C74 )27>>; >5 )>280; )28
4=24B C74 4?0AC<4=C >5 *740CA4
ACB C74 4F8B7 )CD384B &A>
6A0< 0=3 BB>280C43 )CD34=C
&A>3D2C8>=B 3<8BB8>= C> C74
4E4=C 8B 5A44 1DC A4B4AE0C8>=B 0A4
BCA>=6;H 4=2>DA0643 0B B40C8=6
8B ;8<8C43 >A C82:4CB 4 <08;
)DI0==4
*>2IHB:8
0C
BDI0==4 C>2IHB:8 B>=><0 43D
>A 20;;
FD 240 & 1779
' % #
$ " " ! " #
)
(
&
$ $ &
#
"&
#
!" "
2)$!9
!2#(
%730!0%2 /&
C:52J %2C49
/2J
M (=2?6E /2G6D 2E *65H@@5
27L 2 +@?@>2 @F?EJ 32D65
@3 J=2? EC:3FE6 32?5
A>
'=5 *65H@@5
HJ
M ,2I :56 H:== 36 @776C:?8
7C66 2DD:DE2?46 E@ 2== 286D @7
E2IA2J6CD H:E9 >:55=6 2?5 =@H
:?4@>6 2 > A > 3C:?8
J@FC
C6EFC? 2E E96 *@9?
6CE (2C< +6?:@C 6?E6C
F?E6C C
M $:3C2CJ CE +9@H
A > *@9?6CE (2C< @E2E: $:
3C2CJ
$J??6 @?56 /2J
M *63F:=5:?8 ,@86E96C C:52J
&:89E :?8@ 2== AC@4665D 8@ E@
36?67:E *63F:=5:?8 ,@86E96C
*@9?6CE (2C< @E2E: 5@@CD
@A6? 2E A > 82>6 368:?D 2E
A>
3FJ :?D 2E
E96 *@9?6CE (2C< +6?:@C 6?E6C
F?E6C C
M +@?@>2 :=> !?DE:EFE6 AC6D
6?ED P @F5F +2G65 C@>
C@H?:?8 Q :? C6?49 H:E9
?8=:D9 DF3E:E=6D 7C66
7@C
A2C<:?8 A > 2E +@?@>2
+E2E6 -?:G6CD:EJ !G6D 2==
@E2E: G6
+F?52J %2C49
M +@?@>2 :=> !?DE:EFE6 AC6D
6?ED P @F5F +2G65 C@>
C@H?:?8 Q :? C6?49 H:E9
?8=:D9 DF3E:E=6D 7C66
7@C
A2C<:?8 A > 2E +@?@>2
+E2E6 -?:G6CD:EJ !G6D 2==
@E2E: G6
/(.%24
,F6D52J %2C49
M $:3C2CJ 3@@< 5:D4FDD:@?
8C@FA >66ED E@ 5:D4FDD 6EEJ
+>:E9RD P ,C66 8C@HD :?
C@@<=J? Q 4@A:6D @7 E96 3@@<
2C6 2G2:=23=6 2E E96 =:3C2CJ :?
7@C>2E:@? 56D<
$J??6
@?56 /2J
M +AC:?8 C62< ,C:G:2 92=
=6?86 7@C ,66?D 4@>A=6E6 E96
=:3C2CJRD EC:G:2 492==6?86 2?5
H:? 2 7C66 3@@< ,F6D52J
E9C@F89 +2EFC52J %2C49
*@9?6CE (2C< @E2E: $:3C2CJ
$J??6 @?56 /2J
%@?52J %2C49
/65?6D52J %2C49
M *625 E@ 2 5@8 C625:?8 AC@
8C2>
A > *@9?6CE
(2C< @E2E: $:3C2CJ
$J??6 @?56 /2J
,9FCD52J %2C49
M +AC:?8 C62< (FAA6E +9@H
(FAA6E CE H:== AC6D6?E
,@>>JRD (:C2E6 5G6?EFC6 2
D9@H 7@C 286D 2?5 FA
$J??6 @?56 /2J
+2EFC52J %2C49
M +E (2EC:4<RD 2J (C@>6
?256 2E (6??8C@G6 ,FD42?J
2==6C:2 H:E9 DA64:2= >FD:42=
8F6DE :== )F:DE C67C6D9>6?ED
AC@G:565 7C66
A>
%2:? +E (6??8C@G6
M $:3C2CJ CE +9@H 4=@D:?8
52J AC6D6?E2E:@? @7 6DE @7
+9@H C:33@? AC6D6?E65 E@ @?6
@7 E96 @FEDE2?5:?8 2CE:DED
A > *@9?6CE (2C< @E2E:
$:3C2CJ
$J??6 @?56
. !2'5-%.4 !'!).34
/4!4) 4!8 ).#2%!3%
C:52J %2C49
M +AC64<6=D ,962EC6 @>
,96J D2J E96 D2=6D E2I :?
4C62D6 :D E@ D2G6 E96 @E2E: (@
=:46 6A2CE>6?E &@E ECF6 ,96
A@=:46 3F586E :? E96 D2>6 E:>6
A6C:@5 5C@AA65
A6C
J62C ,96D6 ?F>36CD H6C6 E2<6?
7C@> E96 :EJ @7 @E2E: 2F5:E65
DE2E6>6?ED
,96 4:EJ 9:C65 4@?DF=E2?ED
H9@ 7C@> A@==:?8 C6DF=ED D2:5
E96 @?6 C62D@? A6@A=6 H@F=5
DFAA@CE 2 E2I :?4C62D6 H2D 7@C
E96 A@=:46 +@ :E 3642>6 2
P+2G6 ,96 (@=:46Q 42>A2:8?
'FC A@=:46 2C6 7:?6 $:<6 E96
C6DE @7 FD H9@ =:G6 H:E9:? @FC
>62?D E96 4:EJ ?665D E@ 2?5 42?
5@ E96 D2>6
!7 E9:D >62DFC6 A2DD6D @E2E:
H:== 92G6 E96 9:896DE D2=6D E2I
C2E6 :? +@?@>2 @F?EJ 2E
A6C46?E @E9 2? :?4C62D6 2?5
2 ?:?6 J62C 6IE6?D:@?
'?6 @7 E96 C62D@?D E96 4:EJ
H2?ED 2 DA64:2= 6=64E:@? 2?5
7:=65 2 7:D42= 6>6C86?4J H2D 36
42FD6 E96J 36=:6G6 E96 4@F?EJ :D
2=D@ 8@:?8 E@ 92G6 2 32==@E
>62DFC6 E@ C2:D6 E96 D2=6D E2I
/6 >2J 36 =@@<:?8 2E A6C
46?E D2=6D E2I
/96? J@F 3FJ 2 ?6H 42C
J@FC D2=6D E2I :D 42=4F=2E65 3J
J@FC K:A 4@56 ,9:D H:== 27764E
2== @7 FD F?7@CEF?2E6=J 9FCE:?8
>@DE E9@D6 H9@ 42??@E 277@C5
:E
!42)#)!
)..)3
/4!4) %7%,%23 /7.%2
/4!4)
,96 @>>F?:EJ .@:46
/6 5@?RE ?665 2 D2=6D E2I :?
4C62D6 ,96C6 :D ?@ 7:?2?4:2=
6>6C86?4J :? @E2E:
*6G6?F6D 7C@>
E@
E96 =2DE J62C 2F5:E65 3F586ED
H6C6 AF3=:D965 @? E96 4:EJRD
H63 D:E6
M 6?6C2= 7F?5 :?4C62D65 3J
A6C J62C
M (C@A6CEJ E2I6D :?4C62D65
7C@>
E@
A6C
J62C
M +2=6D E2I6D :?4C62D65 7C@>
>:==:@? E@
>:==:@? A6C
J62C
!?
E96 %2J@C @7 @E2E:
2D<65 E96 3FD:?6DD @H?6CD E@
DFAA@CE E96 D2=6D E2I :?4C62D6
D@ E96 4:EJ 4@F=5 86E E96:C 9@FD6
:? @C56C 2?5 3F:=5 FA @FC C6
D6CG6D +@ H92E 92AA6?65 H:E9
E96 ?62C=J
>:==:@?
M ,96 :EJ %2?286CRD DE277
3F586E >@C6 E92? 5@F3=65
C@>
E@
A6C
J62C
M +2=2C:6D 2?5 36?67:ED :?
4C62D65 7C@>
>:==:@? E@
>:==:@? A6C J62C
M 6?6C2= 7F?5 DA6?5:?8 FA
!2+
/4!4)
%..'2/6%
(%
A2?J AC6D6?ED P,96 @@< @7
%2E96H Q 2 4@>65J 23@FE 2
DECF88=:?8 ?@G6=:DE H9@ 86ED E96
492?46 E@ C6HC:E6 9:D 7FEFC6
A>
E@
86?6C2=
D6?:@CD
DEF56?E +AC64<6=D
(6C7@C>:?8 CED 6?E6C
+?J56C $?
M ,2I :56 H:== 36 @776C:?8
7C66 2DD:DE2?46 E@ 2== 286D @7
E2IA2J6CD H:E9 >:55=6 2?5 =@H
:?4@>6 2 > A > 3C:?8
J@FC
C6EFC? 2E E96 *@9?
6CE (2C< +6?:@C 6?E6C
F?E6C C
M *63F:=5:?8 ,@86E96C C:52J
&:89E :?8@ 2== AC@4665D 8@ E@
36?67:E *63F:=5:?8 ,@86E96C
*@9?6CE (2C< @E2E: 5@@CD
@A6? 2E A > 82>6 368:?D 2E
A>
3FJ :?D 2E
E96 *@9?6CE (2C< +6?:@C 6?E6C
F?E6C C
+2EFC52J %2C49
@E2E: $:3C2CJ
$J??6
@?56 /2J
M !>AC@G:D2E:@?2=
D:?86C D@?8HC:E6C "FDE:? (FCE:==
A6C7@C>D 2E *65H@@5 27L
A>
'=5 *65H@@5 HJ
+F?52J %2C49
/ 35#( 4().' !3
5.).#/20/2!4%$ /4!4)
24C6 C2?49 :D & . * 6IA64E65
E@ 364@>6 A2CE @7 @E2E: &@E
@?=J H@?RE #2CC2<6C 24<?@H=
,96 @>>F?:EJ .@:46
6586 E92E 96 5@6D?RE =:G6 :? @
$:<6 D2=6D E2I @AA@?6?E C68 E2E: 96 >:D=625D C6256CD 3J
#2CC2<6C ! =:G6 :? F?:?4@CA@
DE2E:?8 96 =:G6D :? -?:?4@CA@
C2E65 +@?@>2 @F?EJ -?=:<6
C2E65 @E2E: -?:?4@CA@C2E65
#2CC2<6C ! H@F=5?RE AC6DF>6 E@
@E2E: 5@6D?RE 6I:DE #2CC2<6C
E6== @E2E:RD 4:E:K6?D 9@H E@ G@E6 =:G6D :? -?:?4@CA@C2E65
@? 2 >62DFC6 E92E 5:5?RE :>A24E +@?@>2 @F?EJ
>J 3FD:?6DD @C AC@A6CEJ 3FE
,96 @>>F?:EJ .@:46
4@F=5 27764E @E2E:RD 7FEFC6 G:2
D9@F=5 92G6 <?@H? 36EE6C 3FE
3:=:EJ 2D 2 H9@==J :?56A6?56?E
@3G:@FD=J :? 6CC@C C6A62E65 E96
4:EJ ! H@?56C H9J :D #2CC2<6C >:DC6AC6D6?E2E:@? :? #2CC2<6CRD
:?E6C76C:?8 H:E9 C6D:56?ED @7 @ D:8?2EFC6 =:?6 D 2 AC@76DD:@?2=
E2E:RD 677@CED E@ >2<6 2? :?
25G6CE:D:?8 DA:?>6:DE6C %C
7@C>65 49@:46 23@FE H92ERD
#2CC2<6C 92D 2 H2J H:E9 H@C5D
36DE 7@C E96:C 4@>>F?:EJ
&F>36CD 5@?RE =:6 3FE A6@A=6
44@C5:?8 E@ @77:4:2= C64@C5D 42? 5:DE@CE H92E E9@D6 ?F>36CD
#2CC2<6C =:G6D :? @F?EJ 1@?6
C6AC6D6?E
H9:49 4@G6CD =2?5 4@==64
,96 H2J 9:D H@C5D 2C6
E:G6=J DFCC@F?5:?8 (6E2=F>2
A9C2D65 =:<6 4=@D6 E@ =:36= 5:D
@E2E: 2?5 *@9?6CE (2C< :D
E@CE A6C46AE:@? !D :E =:36=@FD @C
24C6 C2?49 :D 24EF2==J 4=@D6C ?@E C66 DA6649 :D 2 AC64:@FD
E@ *@9?6CE (2C< E92? @E2E:
C:89E !562==J 4:E:K6?D FD6 :E H:E9
G2=:5 BF6DE:@? 23@FE H96C6 96
:?E68C:EJ D C6DA@?D:3=6 4:E:
C6D:56D EC:886C65 2 962E65 56
K6?D /6 D9@F=5 2== 36 4FC:@FD
7=64E:G6 C6DA@?D6 244FD:?8 2
23@FE H9@ :D DA62<:?8 !D H92E
=6EE6C HC:E6C @7 ?@E 92G:?8 D66?
E96J D2J 2?5 9@H E96J D2J :E
9:D 5C:G6CRD =:46?D6 +:==J 56
96=A7F= :? D@CE:?8 @FE 724E 7C@>
76?D6 2 5C:G6CD =:46?D6 :D ?@E
@A:?:@? @6D :E 96=A J@F >2<6
AC@@7 @7 C6D:56?46
2 ECF=J :?7@C>65 564:D:@?
%:89E @E2E:RD 564:D:@?D :>
2D65 FA@? H92E !RG6 C625 :7 !
A24E #2CC2<6C :? E96 7FEFC6 &@ H6C6 2 G@E6C :? E96 FA4@>:?8
#2CC2<6C 5@6D?RE 6G6? =:G6
@E2E: 6=64E:@? ! H@F=5?RE ECFDE
H:E9:? @E2E:RD +A96C6 @7 !?7=F
#2CC2<6CRD :?E6?E:@?D @C 492C24
6?46 O 2 3C@256C @F?EJ 56
E6C
7:?65 3@F?52CJ 6?4@>A2DD:?8
/!..!
42!.'
AC@A6CEJ E92E >:89E 36 2??6I65
.).#/20/2!4%$
:? E96 7FEFC6 ,C2?D=2E:@? 9:D
/./-! /5.49
/)#%
(2C< @E2E: $:3C2CJ
$J??6 @?56 /2J
M P+96 #:==D %@?DE6CD Q 2
A=2J @7 9@H 9:89 D49@@= E62496C
8?6D 4@>6D E@ E6C>D H:E9 E96
562E9 @7 96C D:DE6C ,:==J 3J 5:D
4@G6C:?8 ,:==JRD D64C6E 82>6C
H@C=5 :? P F?86@?D 2?5 C28
@?D Q 7C66
A > +@?@>2
+E2E6 -?:G6CD:EJ !G6D 2==
@E2E: G6
M C62E:G6 CED +6C:6D AC6D
6?ED 2JE96 C66D6 @? @C82?
DF886DE65 5@?2E:@? @7
*6DFCC64E:@? (2C:D9
+E@?J
,9FCD52J %2C49
(@:?E *5 +2?E2 *@D2
M 'A6? %:4 &:89E 2E *65
M +AC64<6=D ,962EC6 @>
H@@5 27L D:8? FA 2E A >
A2?J AC6D6?ED P,96 @@< @7
D9@H CF?D
A>
%2E96H Q A >
E@
'=5 *65H@@5 HJ
86?6C2=
D6?:@CD
DEF
56?E +AC64<6=D (6C7@C>:?8 CED
6?E6C
+?J56C $?
%@?52J %2C49
M &@ D4965F=65 6G6?ED
+F3>:E
J@FC 6G6?E 2E
!,%.$!2
,F6D52J %2C49
M +AC64<6=D ,962EC6 @>
A2?J AC6D6?ED P,96 @@< @7
E@
%2E96H Q A >
86?6C2=
D6?:@CD
DEF
56?E +AC64<6=D (6C7@C>:?8 CED
6?E6C
+?J56C $?
M +2EFC52J +E@CJE:>6 H:E9
(2> C@H? 4C27ED 2?5 DE@C:6D
2C@F?5 E96 E96>6 @7 P(2?52
(2CEJ Q 2 > *@9?6CE (2C<
/--5.)49
M +=2> (@6ECJ +=2>2K@?
762EFC:?8 !D236==2 @C86D@?
*65H@@5 27L
'=5 *65
H@@5 HJ
(% /--5.)49 /)#% #/-
&@? AC@7:E 2?5
4@>>F?:EJ @C:6?E65
6G6?ED @?=J
/65?6D52J %2C49
M *625 E@ 2 5@8 C625:?8 AC@
8C2>
A > *@9?6CE
.%%$3 4/ */).
/./-! ,%!. /7%2
H9@ A2JD 2 FE:=:EJ 3:== -?56C
+@?@>2 =62? (@H6C 4FD
E@>6CD 42? 6IA64E E@ 86E ;FDE
,96 @>>F?:EJ .@:46
@?6 4@>3:?65 3:== 6G6CJ >@?E9
*6256CD @7 @FC =2C86DE 4@F?EJ 7C@> (
2?5 C646:G6 E96
52:=J ?6HDA2A6C >2J 92G6 ?@
D2>6 4FCC6?E D6CG:46D 7C@>
E:465 =2C86 7F== A286 25D C6
(
A@H6C =:?6 EC2?D>:D
46?E=J D2J:?8 P-?E:= C646?E=J
D:@? DE2CE FA 2?5 DE@A D6CG:46
J@F 5:5?RE 92G6 2 49@:46 23@FE
C6A@CE @FE286D 6E4
E96 6?6C8J E92E A@H6CD =:76RD
!?5:G:5F2= 4FDE@>6CD 2=D@ C6
DA64:2= >@>6?ED &@H J@F 5@ Q E2:? E96 C:89E E@ @AE @FE @7 E96
,96 25D C676C E@ +@?@>2
?6H 6?6C8J AC@G:56C :7 E96J
=62? (@H6C +@?@>2 @F?EJRD H:D9
?6H =@42==J 4@?EC@==65 6=64EC:4
D ?? 2?4@4< 6I64FE:G6
:EJ AC@G:56C FE 5@?RE 86E E@@
5:C64E@C @7 E96 =:>2E6 (C@E64
6I4:E65
E:@? 2>A2:8? C646?E=J DE2E65
-?=:<6 >@DE C6D:56?ED @7
:? E96 +@?@>2 @F?EJ 2K6EE6
+@?@>2 @F?EJ *@9?6CE (2C<
P FDE@>6CD :? (6E2=F>2 *@9?
C6D:56?ED 4@?E:?F6 E@ 92G6 ?@
6CE (2C< 2?5 =@G6C52=6 E96
49@:46 :? E96:C A@H6C AC@G:56C
E9C66 4:E:6D E92E 5:5 ?@E ;@:?
,9:D :D 3642FD6 @FC =@42= 4:EJ
+@?@>2 =62? (@H6C H:== =@D6
4@F?4:= H2D @?6 @7 E96 76H :?
@FE @? =@H6C C2E6D 2?5 8C66?6C
E96 4@F?EJ E92E 92D ?@E G@E65 E@ A@H6C @A67F==J A@=:4J>2<
A2CE:4:A2E6 :? E96 ?6H AC@8C2>
6CD :? E96D6 4:E:6D H:== 7@C E96
+@?@>2 =62? (@H6CRD :?:
D2<6 @7 E96:C 4@?DE:EF6?ED G@E6
E:2= 5672F=E D6CG:46 =62?+E2CE
E@ A2CE:4:A2E6 2E E96 ?6IE @AA@C
92D
A6C46?E =@H6C 8C66?
EF?:EJ Q
9@FD6 6>:DD:@?D E92? (
RD
!? 724E ;@:?:?8 +@?@>2
D6CG:46 2?5 4@DED EH@ E@ E9C66
=62? (@H6C D66>D E@ 36 DF49 2
A6C46?E =6DD
?@ 3C2:?6C :ERD 92C5 E@ 7:8FC6 @FE
D &@CE9 2J :K >282K:?6
H9J *@9?6CE (2C< :D ?@E 2=C625J
C646?E=J DE2E65 P!ERD 2 3:8 H:?
A2CE:4:A2E:?8
7@C E96 4@F?EJ 3642FD6 :E 25
! FC86 @FC 4:EJ 4@F?4:= E@ E2<6
G2?46D 6?G:C@?>6?E2= 8@2=D
E9:D :>A@CE2?E 24E:@? H96? A@D
H9:=6 D2G:?8 6G6CJ@?6 >@?6J
D:3=6 @? 3692=7 @7 @FC 6?G:C@?
>2<:?8 :E 2? 62DJ 49@:46 Q
>6?E @FC 64@?@>J 2?5 @FC
+@?@>2 =62? (@H6C :D @?
72>:=:6D
EC24< E@ ?@E @?=J 96=A @FC 6?G:
): %9.!
C@?>6?E 3FE AC@G:56 =@42= ;@3D
/(.%24 !2+
2?5 4@DE D2G:?8D E@ 6G6CJ@?6
*( 4@F?4:= G@E6D E@ DFAA@CE +AC64<6=D 2?5 J@FE9 AC@8C2>
J %:C2 C@5J
,96 DE277 @7 E96 +AC64<6=D (6C
7@C>:?8 CED 6?E6C AC@A@D65
E9:D H66< E96 *@9?6CE (2C< :EJ
@F?4:= 25@AE 2 C6D@=FE:@? E@ 2F
E9@C:K6 F?C6DEC:4E65 6?5@H>6?E
7F?5D E@ 724:=:E2E6 E962E6C AC@5F4
E:@?D 2D H6== 2D 2>6?5 E96
3F586E E@ >2<6 A@DD:3=6 2 DF>
>6C J@FE9 AC@8C2>
,96 4@F?4:= F?2?:>@FD=J
:? DFAA@CE @7 +AC64<6=D
G@E65
,962E6C
%2?286C
6?6
3C2G2J2 2?5 (F3=:4 /@C<D :
C64E@C "@9? %4 CE9FCRD AC6D6?
E2E:@?
P 6?6 !RG6 D66? H92E J@FRG6
5@?6 :? E96 =2DE 4@FA=6 @7 J62CD
2?5 :ERD ;FDE 2>2K:?8 Q *( %2J@C
"@D6A9 2==:?2? D2:5 P,9:D :D
H92E E92E 7F?5 :D 7@C 2?5 ?@E
@?=J 2C6 J@F 8@:?8 E@ <66A
+AC64<6=D 2=:G6 3FE J@FRC6 8@:?8
E@ >2<6 2 AC@7:E 7C@> :E 0@F
92G6 >J H9@=6962CE65 DFAA@CE Q
!? E96 A2DE >@?6J E@ <66A E96
+AC64<6=D 6?E6C CF??:?8 92D
366? 2 DEC2:? @? E96 6?6C2=
F?5 2?5 :?
E96 (C67@C>
:?8 CED 6?E6C (
?5@H
>6?E F?5 H2D 4C62E65 :? @C56C
E@ @77D6E E96D6 4@DED
642FD6 @7 :ED DF446DD E96 =2DE
-*
' ,
' #+
/6DE +:6CC2
(286 +EC66ED
:? @E2E: D:?46
&'&
&'%!& ,!'& $ % , ( 0+!
$
+(!*!,- $ '%%-&!,0 ,
, '&'*+
,
&, * '
!.!&!,0 /!, !& . *0
'&
(
$$
*
+-&
0 + *.!
+N N
%
%!&!+, * .!.! &&
$ *#
-*
' ,
' #+ '*
"'0 $'.
/ $ '%
*'++
&
*'/& $-,
* &
-*
& +
''$
+?J56C $2?6 *@9?6CE (2C<
9FC49 (9@?6
+49@@= (9@?6
HHH 4C@DD2?54C@H?CA @C8
+49@@= /63 +:E6
HHH 4C@DD2?54C@H?D49@@=CA @C8
+F?52J +6CG:46D
2?5
2>
9FC49 /63 +:E6
5
$ .$
$!.,(,& 0- -2$
-2$ 0'$./5
333
1.
1,#!4
!+
46:G6D DF49 2D 7F?5C2:D:?8 2?5
2446DD E@ 8C2?ED H9:49 4@F=5
>2<6 E96 46?E6C 6G6? >@C6 D6=7
DF77:4:6?E C:6?5D @7 ( H@F=5
2=D@ AC@G:56 DE277:?8 7@C 36?67:E
6G6?ED
P/6 2C6 :?E6C6DE65 :? 7:?5:?8
4C62E:G6 H2JD E@ 92G6 =@42= 3FD:
?6DD6D DA@?D@C E96 D9@HD 2E
+AC64<6=D Q D2:5 #:> &@C5D
H9@D6 49:=5C6? 2C6 24E:G6 :? E96
A=2JD 2E +AC64<6=D 2?5 H@F=5 2E
E6?5 E96 DF>>6C 42>A P$:G6
E962EC6 :D DA64:2= 2?5 AC64:@FD
3FE H6 2== <?@H E96 3F586E 4@?
DEC2:?D E92E 92G6 366? 92AA6?:?8
7@C E96 =2DE J62CD @C D@ ! E9:?<
E9:D :D 2 AC@8C2> C62==J H@CE9
86EE:?8 4C62E:G6 23@FE Q
6?:D6 =:2 06? H9@ 92D
H@C<65 2D 2 DE286 5:C64E@C 24C@DD
+@?@>2 2?5 %2C:? 4@F?E:6D 2D
H6== 2D 24E65 :? &6H 0@C< 2?5 :D
<?@H? 7@C 96C C@=6 @7 ??:6
'2<=6J :? P ??:6 6E 0@FC
F? Q 2=D@ G@F4965 7@C E96 AC@
A@D2= 2?5 H@F=5 36 2AA@:?E65
9625 5C2>2 E62496C :7 E96 42>A
E@@< A=246
P+AC64<6=D :D E96 36DE A=246 E@
36 Q D96 DE2E65 P!E :D H96C6 !
H2?E E@ 36 !E C62==J :D 2 86> :?
@FC 4@>>F?:EJ Q
P 2G:?8 E9:D 4@?E:?F65 :D 23
D@=FE6=J 6DD6?E:2= Q
@F?4:=
H@>2? (2> +E277@C5 D2:5 P ==
E96 AC@5F4E:@?D 4@>:?8 FA 2C6
8C62E AC@5F4E:@?D 2?5 ! 42?RE
H2:E E@ D66 E96> ! 2> 23D@=FE6=J
7@C E9:D ,96 DF>>6C J@FE9 AC@
8C2> :D 2H6D@>6 Q
2D65 @? A2DE 6IA6C:6?46 E96
C6G6?F6 86?6C2E65 7C@> E96 AC@
5F4E:@?D 2E +AC64<6=D :D 6IA64E65
E@ 6I4665 6IA6?D6D ?@E @?=J
A2J:?8 E96 6?5@H>6?E 324< 3FE
255:?8 E@ E96 6?6C2= F?5 2D
H6==
P/6RG6 6DE23=:D965 2 *@9?6CE
(2C< @F?52E:@? =6ERD FD6 :E Q
D2:5 @F?4:=>2? "2<6 %24<6?
K:6 P,96 C:6?5D @7 E96 (6C7@C>
:?8 CED 6?E6C 92G6 D9@H? FD
E92E E96J H2?E E9:D E@ 8@ @? D@
H6 E92?< E96> 7@C E92E Q
/92E 4@?46C?D J@F >@C6 E96 *2?49@
>62E 4C:D:D @C C:D:?8 82D AC:46D
*2?49@ >62E 4C:D:D 3642FD6 H6 6IA64E E@ 36 8@F865 3J 82D 2?5
@:= 4@>A2?:6D 3FE H6 2=D@ 6IA64E @FC 7@@5 E@ 36 D276
2D AC:46D ,96 >62E D:EF2E:@? H:== H@C< :ED6=7 @FE :? 2 >2EE6C @7
H66<D 3FE 82D AC:46D H:== 2=H2JD 36 2 >2;@C 4@?46C?
&6:E96C C62==J H@CC:6D >6 2== E92E >F49 25 7@@5 @FEC286@FD
82D AC:46D 92G6 D:>A=J 364@>6 A2CE @7 E96 >6C:42? ?@C>
.@E6 ?@H
-# !,#
!0$3!4"" -.&
.-%$//(-,!* $,0$.
-',$.0 !.)
.(2$ (
%35,43 &2/- 02%6)/53 0/,,
$.2("$ 0(+$/ !.$
!+
(/5,$ 34!.$!2$):%$ 4%34).' "% %,)-).!4%$ &2/- ,/#!, 3#(//,3
M %3 "%,)%6% 4%!#(%23 !2% $/).' -/2% 4/ 02%0!2% 345$%.43 &/2 4%34 3#/2%3 2!4(%2 4(!.
7(!4<3 .%%$%$ 4/ '%4 4(%- 4(2/5'( ,)&%
+, "' & + -&!,
% , ' !+,
-*
+?J56C $2?6 *@9?6CE (2C< (9@?6
>2:= DE;@9?DF>4
76H J62CD H:E9 G2DE=J A@AF=2C
D9@HD DF49 2D P/:==J /@?<2Q
2?5 P+4C@@86 Q +4C@@86 86?6C
2E65 @G6C
2=@?6 E96 (
92D D:?46 366? AC@G:5:?8 2 8C62E
D6CG:46 E@ E96 4@>>F?:EJ 2D H6==
2D EFC?:?8 2 AC@7:E
,@ C6=62D6 23@FE
@7
E96 6?5@H>6?E 7@C E962E6C 6I
A6?D6D H@F=5 ?@E @?=J 7F?5
A=2JD 3FE 2=D@ 2 J@FE9 DF>>6C
42>A E92E H@F=5 86?6C2E6 2? 6D
E:>2E65
7C@> E96 42>A
EF:E:@? 2=@?6
P,96 36?67:ED @7 E9:D 2C6 E92E :E
H:== C6=62D6 E96 :>A24E @? 86?
6C2= 7F?5D Q DE2E65 %4 CE9FC P!E
2=D@ 7FCE96CD E96 :?E6?E @7 E96 6?
5@H>6?E 7F?5 H9:49 :D E@ AC@
G:56 277@C523=6 6?E6CE2:?>6?E 7@C
E96 AF3=:4 2?5 AC@G:56 492C:E23=6
7F?5D E@ E96 (
Q
!? 255:E:@? E@ E96 AC@A@D65
3F586E 2>6?5>6?E E96 *@9?6CE
(2C< @F?52E:@? 92D 4@>6 E@
86E96C E@ 4C62E6 P C:6?5D @7
(
Q AC@G:5:?8 E96 46?E6C H:E9
E96 36?67:ED E92E 2 ?@? AC@7:E C6
D@?:4 ?6E
+F?52J /@CD9:A
2>
@?4FCC6?E H:E9 49:=5 42C6
?E6C 7C@> (2C<H2J C:G6 =@E *@9?6CE (2C<
6?E2= .:==286
AC@8C6DD:G6 49FC49 H:E9 7C:6?5=J A6@A=6
== H6=4@>6
*6G #6==6J 'R @??@C (2DE@C
HHH DE;@9?DF?:E65>6E9@5:DE @C8
,@ 36 2 A2CE @7 C6=:8:@FD 5:C64E@CJ 42== FD 2E
; / 4!.$!2$):%$ 4%34).' )3 2%!,,9 /.% /& 4(% /.,9 7!93 7% #!. *5$'% 3#(//,3 /2 4%!#(%23
%15!,,9
; % .%%$ 3/-% &/2- /& 4%34).' 4/ -%!352% 345$%.43< 02/'2%33 "54 <- ./4 352% (/7 &!)2
34!.$!2$):%$ 4%34).' )3 4/ 3/-% #(),$2%.
$!
+))0*%/4
+% !
!2., ,!- +"
+$*!-/
-'
+/ /%
!**#-+1!
-%
4
- $
@ ?119? -88 /-?5:;? 4-B1 /;9<1@5@5;: C;1?
5
@>5.-8 /-?5
:;? 4-B1 ;A@3>;C: @415> 05-<1>?
-:0 .A::E 1->10 ?85<<1>? :
-852;>:5- @41>1 ->1
-A
@41:@5/ @>5.1? ;C:5:3
/-?5:;?
C5@4 <>;25@? /8;?1 @;
.5885;: E1-> 01<1:05:3 ;: @41 ?5F1 ;2
@41 /-?5:;? (41 10? .-/7 5:
+-?45:3@;: 711< ?1>5;A? @>-/7
;2 -88 @45? 0-@- 28;C5:3 5: '; 0;
@41 @>5.1? 41>1 5: @41 ;801:
'@-@1 ?=A5?4 E;A> 5>;:5/ 811>
2;> @41EL>1 ?-E5:3 I 1E +-5@ 95:A@1 +1 4-B1 1:;A34 /-?5
:;? :;C 81@L? :;@ -00 -:E
9;>1 J
@>5.1? 5: -852;>:5- C-5@5:3 2;>
@41 #-@5;:-8 :05-: -95:3
;995??5;:L? 25:-8 -<<>;B-8
?; @41E /-: ?@->@ .A5805:3 /-?5:; -:0 -:;@41>
@>5.1? 258
5:3 2;> >1/;3:5@5;: 2>;9 @41
@41 A?A-8 25>?@ ?@1< @;
#
;C:5:3 - >1-8 /-?5:; ?5@1
101>
-@10 :05-:? ;2 >-@;:
&-:/41>5- -:0 @415> <->@:1>?
'@-@5;: -?5:;? ;2 !-? *13-?
->1 -3-5:?@ -:E 9;>1 /-?5:;?
(41E 4-B1:L@ ?-50 ?; 2;>9-88E
.A@ '@-@5;: -?5:;? 5?:L@ 1D-/@8E
- .53 2-: ;2 <>;B505:3 <>1?? >1
81-?1? @; @41 9105.11: ?@>505:3 -8;:3 /;:2501:@8E
&5B1> &;/7 -?5:; A< :1->
;:1 ?A//1?? -2@1> -:;@41> .A@
1E?1>B5881 5: 81D-:01> *-8
:;C @41ELB1 .A9<10 A< -3-5:?@ 81E 5? -8?; -3-5:?@ 9;>1 /-?5
@41 ?;850 .>5/7 C-88 ;2 91>5/-: :;? (41EL>1 ;C:10 .E @41 >E
/-<5@-85?9 (45? C-88 4-? 9;>1
>117 @>5.1 -:0 -8?; ;C:1>? ;2
21>B50 2-:? @4-: - >-F585-: ?;/ -/>1-31 -@ -E?@-/7 !-:05:3 ;:
/1> @1-9 ,;A 7:;C .A580 -:
@41 %1@-8A9- &5B1> ;:
% ?A<1>9->71@ -:0 ?;;:
%1@-8A9-L? ?;A@41>: 1031
@41>1L? - ;4-/7L? @41: !A/7E '-21C-E &-81EL? -88
@>5.1 4-?
?<-C:5:3 9;>1 595@-@;>? 8571
.11: -?710 52 @41E <8-: @; .A580
>;/1>E $A@81@ ;88-> (>11 -:0 - /-?5:; 41>1 .A@ @41E 41-@108E
1:@ ?@;>1?
01:E 5@ ?-E5:3 I-88 C1 C-:@ 5?
@L? @41 91>5/-: C-E
4;A?5:3 2;> ;A> <1;<81 -:0 &534@ :;C @41>1 ->1 ?5D
?9-88 ?4;<<5:3 /1:@1> J 2 E;A
.1851B1 @4-@ 4-B1 - .>5031 5:
>;;78E: L0 8;B1 @; ?188 E;A
#-@A>-88E '@-@5;: -?5:;?
0;1? :;@ C-:@ @; ?11 - /-?5:;
.1@C11: @415>? ;: ;82 ;A>?1
>5B1 +1?@ ;: &%L? .;>01> 2;>
9-6;> /-?5:; @>-225/ 41>1 /;91?
2>;9 "->5: ;A:@E -:0 @41
3>1-@1> ' -E >1- :;@ '-:@&;?- ;> 1-80?.A>3
@5;:10 ->1 -88
;>
9581? 2>;9 @415> >1?1>B-@5;:?
(45? .>5:3? A< @41 9-6;>
.;:1 ;2 /;:@1:@5;: A:01>8E5:3
@41 C4;81 I>1?1>B-@5;:J
058199- #; ;:1 /-: 01:E :
05-: @>5.1? C1>1 ?/-@@1>10 A<
-:0 0;C: -852;>:5- 2;> @4;A
?-:0? ;2 E1->? .12;>1 59
>5031> ?/-810 @41 9;A:@-5:?
:1-> !-71 (-4;1 -:0 3859<?10
@41 B-881E 1-?@ ;2 @41 '51>>- #1
B-0- (41E C1>1 9;?@8E :;
9-0? @41E 050:L@ 81-B1 -:E
'<45:D %E>-950? >117
%->@41:;: *1:A? 01 "58; ?@-@
A1? ;> &;9-: ;85?1A9 5: @415>
C-71
#; 5:?@1-0 @41 C45@1 9-:
01/5010 C41>1 @41 >1?1>B-@5;:?
?4;A80 .1 8;/-@10 !571
C5:0?C1<@ .->>1: 8-:0? :1-> %@
>1:- ;> @41 2;>1?@10 2;;@4588?
9581? 1-?@ ;2 )75-4 $> 18?1
2;>/10 @; C;>7 5: 95??5;:? 1?
@-.85?410 .E @41 -@4;85/
/4A>/4 !;?? ;2 8-:0 <;B1>@E
-:0 05?1-?1? 5:@>;0A/10 .E @41
C45@1 9-: 01/59-@10 @41 @>5.1?
:05-:
9;>1 /-?5:;? /-88 5@ I>1?1>B-@5;: @>5.1? 2585:3 8-C?A5@? -3-5:?@
;@41> @>5.1? C4; C-:@ @; .A580 ?4;<<5:3 J 2;> 8;/-@5;:? 91:
/-?5:; :1-> 1D5?@5:3 ;:1? 4-? -8
>1-0E .11: ?1@ @ 4-<<1:10
:1-> %4;1:5D -:0 @45? /-?1 5?
@510 A< 5: @41 >5F;:- /;A>@?
)< 5: :;>@41>: +5?/;:?5: @>5.1 C-:@? @; .A580 - /-?5:; 5:
1:;?49581? ?;A@4 ;2
@415> >1?1>B-@5;: 01/5010 .E
@41 C45@1 9-: .A@ ;@41> @>5.1?
C5@4 /-?5:;? ->1 ;.61/@5:3 /-88
5:3 5@ I>1?1>B-@5;: ?4;<<5:3 J
%>;<;:1:@? /;:@1:0 @415> >1?1>
B-@5;: 5? C-E :;>@4 5: 2;>1?@10
?:;C.;A:0 8-:0 C41>1 <;B1>@E
-:0 A:19<8;E91:@ 253A>1? ->1
05?9-8 -:0 >1?501:@? :110
/-?5:; 9;:1E @; ?A>B5B1 (45?
@;; 5? 5: @41 /;A>@ ?E?@19
C-?:L@ 1:;A34
25:-:/5-8 05?@>-/@5;: 2;> /-?5:;?
@41>1 ->1 @C; .588? 5: '-/>91:@; -595:3 -@ 813-85F5:3
<;71> 3-91? ;: @41 +1. @
?119? -.;A@ :1->8E - 95885;:
<;71> <8-E1>? -8>1-0E ->1 ;: @41
+1. -:0 813-85F5:3 @41 3-91
C;A80 -00 -@ 81-?@ - 95885;:
9;>1
(41 ?@;>E .>;71 ;: - :1C?
?1>B5/1 /-8810 -<5@;8 +1178E
5: '-/>-91:@; <>1?A91 -:0
@41 ';:;9- ;A:@EL? 8->31?@
0-58E :1C?<-<1> <5/710 5@ A<
@L? /;:2A?5:3 .1/-A?1 ;:1 <->3>-<4 /8-5910 .;@4 >E >117
-:0 '@-@5;: -?5:;? .-/710 ;:1
;2 @41 @C; .588? !-@1> ;: 5: @41
?@;>E .;@4 >E >117 -:0 '@@5;: -?5:;? ?<;71?<1>?;:? 4-0
:; /;991:@? ;: @41 .588?
+1L>1 812@ C5@4 @41 59<>1??5;:
-852;>:5- @>5.1? C;A80 8571 <51/1 ;2 @41 -/@5;:
4;C
<8-E5:3 <;71> ;: @41 +1.
C;>7? C-? @;80 E;A 4-B1 @;
A?1 E;A> />105@ /->0 *5?- ;>
"-?@1> ->0 @; ?1@ A< -: -/
/;A:@ @; <8-E <;71>
2 E;A C5: ?;91;:1 ?;91
C41>1 C588 ?1:0 E;A 9;:1E @;
E;A> />105@ /->0 -//;A:@ 52 E;A
8;?1 @41EL88 010A/@ 5@ 2>;9 E;A>
-//;A:@
@ -88 ?;A:0? <>1@@E ?/->E
-?5:;? 4-B1 @; C;>>E -.;A@
I>1?1>B-@5;: ?4;<<5:3 J -//A?@5;:? -:0 :;C @45? <;71> ;: @41
+1. 813-85F-@5;: -00? -:;@41>
18191:@
88 C1 /-: ?-E -@ @45? <;5:@ 5?
@4-:7 3;;0:1?? &;4:1>@ %->7
4-? -: "$) ?53:10 .E @41 >@;: @>5.1 -:0 '@-@5;: -?5:;?
.-/7 5: $/@;.1>
%&!$+ % !)%
& * $ & % !&
( $+ !!
- 9;:@4 1-/4 @; ?1:5;> /5@5F1:?
5: >1:@ >18512
(41: /-91 @41 0;@ /;9 .A?@
-:0 ?A001:8E H .1/-A?1 -B5?
4-0 <-??10 .-/7 -88 @4-@ /-?4 H
41 /;A80:L@ <>1B1:@ C4;81?-81
.A031@ /A@? @; ?/4;;8? 4534
C-E? ?@-@1 <->7? -:0 ;@41> B5@-8 ?;/5-8 ?1>B5/1? 8571 /->1 2;> @41
2>-58 1801>8E -:0 <>1?/4;;8 10A
<>;3>-9?
/-@5;: :;@ @; 91:@5;: <A.85/
?/4;;8? -:0 A:5B1>?5@51? /->>510
!%*./ /%*# - / 3
(41 25>?@ @45:3 41 @>510 C-? @; ;A@ A:01> -B5? '/4C->F1:13
31> -:0 >;C:
>15:?@-@1 @41 ;80 81B18? ;2 /->
:?@1-0 ;2 35B5:3 @-D >1.-@1?
@-D (4-@ <>;0A/10 4A31 >1/-88
;::188E 3>5<10 >;C: 5?
?1-?;: >-8851? 5: /-> 01-81> 8;@?
9;?@ 21-@A>5:3 '/4C->F1:1331> I35B5:3 <-E 5:/>1-?1? @; A:5;:
919.1>? C4581 81-B5:3 >13A8->
-:0 ;@41>? /8-595:3 -B5? C-?
4->0C;>75:3 @-D<-E1>? ;A@ @;
A:58-@1>-88E >-5?5:3 @41 81BE :
0>E J : ?4;>@ ;::188E 5:05
2-/@ 41 C-? -:0 41 C-?:L@ 01
/-@1? 41 0;1?:L@ .1851B1 A:5;:
<1:05:3 ;: 4;C E;A 8;;710 -@
5?@? ->1 @-D<-E1>? ;> @4-@ <->1:@?
5@
;2 ?/4;;8/4580>1: <-E @-D1?
A@ 41 :11010 @41
.58
A4
85;: 41 4-0 1->851> /A@ 2>;9 @41
/-> @-D 5: ;>01> @; ?<->1 9-:E
- 4 1%. , 4. %#
;@41> <>;3>-9?
1 ?;A:0? - 8;@ 8571 /A>>1:@
$.B5;A?8E @41>1L? - 81??;:
;:3>1??9-: @41: ?@-@1 '1:
41>1 2;> >;C: ;:1 @4-@ 41 4-?
411010 >;C: ?; 2-> 4-? /;9 (;9 "/ 85:@;/7 050 .-/7 5:
C41: 41 1D4;>@10 -B5?
<81@18E 53:;>10 @41 /-88? ;2
@; I>1@A>: @41 ?@-@1L? ?A><8A? -?
;::188E ;:1 ;2 6A?@ @C; &1
- >1.-@1 @; 418< 2-95851? /;<1
<A.85/-:? ?; 2-> 1:@1>10 -? /-:
050-@1? @; >1<8-/1 >;C: 5: @45? C5@4 4534 <>5/1? (41 3;B1>
:;>L? ?<;71?9-: ?-50 @45? >18512
E1->L? 181/@5;:
KC;:L@ ?11 @41 8534@ ;2 0-E L +1
:?@1-0 45? .A031@ <>;<;?-8
5:/8A01?
.5885;: 2;> @41 ;< .13 @41 3;B1>:;> -B5? @; >1
/;:?501> J
+*!4
' /+ / 3, 4!-.
<;?5@1 ;2 >1.-@1? H - >-5:E 0-E
-B5? 050 -:0 1:010 A< @41
(4;?1 /41/7? C1>1:L@ @41 ;:8E 2A:0 01?53:10 @; <>1B1:@ ?4;/7?
;:8E -852;>:5- 3;B1>:;> 1B1>
C-E -B5? >1@A>:10 9;:1E @; 8571 @4;?1 ;2 @41 -B5? 1>- 52
@-D<-E1>?
/-<5@-8 3-5: @-D1? H - 9-6;> <->@ 75/710 ;A@ .12;>1 45? @1>9
1 -8?; /A@ @41 B145/81 85
;2 @41 ?@-@1L? 5:/;91 @-D @-71 H 1:010 -8?; .1/;95:3 @41 .A@@
;2 1:081?? 6;71?
/1:?1 211 -7- @41 /-> @-D -:0 ?A001:8E <8A991@ -? @41E 050
+5?1/>-/710 8-@1 :534@ @181
<A.85/
1D19<@10
5:
B5?5;: 4;?@ -E !1:; I : #
?/4;;8 @1-/41>? 2>;9 4-B5:3 @;
>;C: C4; ;:/1 19<8;E10
#1C? <;88 4-? 2;A:0 @4-@ 52 @41
<-E -:E ?@-@1 @-D ;: @415> @1-/4
-B5? -? 45? /4512 ;2 ?@-22 4-?
181/@5;: C1>1 4180 @;0-E
5:3 5:/;91 1 5:/>1-?10 @41
/1>@-5:8E 81->:10 2>;9 45? ;:1
<1>/1:@ ;2 -852;>:5-:? C;A80
>1?1->/4 -:0 01B18;<91:@
@591 <>;@G3GL? <;85@5/-88E 2-@-8
B;@1 2;> '/4C->F1:1331> -:0
/>105@ 2;> /;><;>-@5;:? 2>;9
95?@-71
<1>/1:@ C1>1 :;@ ?A>1 (;0-E
<1>/1:@ @;
<1>/1:@
(45? 9-E 5:2A>5-@1 ;::188E
>-E -B5? /4-:310 45? :-91
1 0;A.810 <>;<1>@E @-D -?
-:0 /;:?1>B-@5B1 &1<A.85/-:?
?5?@-:/1 2;> @41 05?-.810 -:0
C4;?1 501;8;35/-8 2;>1.1->? 4-0 @; K#;@ 'A>1 LJ
>;C: 4-? .11: @41 .A@@ ;2
@4;?1 ;B1>
-:0 41 3-B1
:; <>;.819 C5@4 011< /A@? 5:
<81:@E ;2 6;71? 5: 45? /->11> -:0
0;1?:L@ C-:@ -:E 9;>1 ;2 @4-@
'; E;A /-: ?-218E .1@ @41>1 C588
.1 :; @-D >1.-@1? :; 35B1.-/7?
:; >1?<;:?1 /;9<->-.81 @;
-B5?L @; @41 /A>>1:@ 019-:0?
;2 ;::188E -:0 2>51:0?
2 @41>1L? - ?@-@1 .A031@ ?A>
<8A? 81@L? >1@A>: 5@ @; @41 <1;<81
C1 @;;7 5@ 2>;9 3;1? @41 01
9-:0 @41?1 0-E? 2>;9 /;:?1>
B-@5B1 &1<A.85/-:? 810 .E
??19.8E9-: (59 ;::188E
C4; :;C >1<>1?1:@? - 8;@ ;2
.->>1: 01?1>@ -:0 C;A80 8571 @;
.1 3;B1>:;> ;2 -852;>:5@L? =A5@1 - ?5>1: ?;:3 -:0
;:1 C1LB1 41->0 .12;>1 9;?@
>1/1:@8E
E1->? -3; +4;
C;A80:L@ 8571 @; ;<1: @41 9-58
-:0 25:0 - 2-@ /41/7 2>;9 @41
?@-@1
A@ 5@L? - .-0 501- A?@ -?7
>-E -B5? @41 2;>91> 3;B1>
:;> ;A?@10 5: >1/-88 181/
@5;: -:0 >1<8-/10 .E
9A?/819-: -/@;> >:;80
'/4C->F1:1331>
-B5? -/=A51?/10 5:
C41: 8135?8-@5B1 &1<A.85/-:?
B;5/10 <>1/5?18E @41 ?-91 ->3A
91:@? 9-01 .E ;::188E @;0-E
/-?1 /-: .1 9-01 @4-@ @41>1
C-? - ?@>-534@ 85:1 2>;9 @41 >1
.-@1? 41 ;>01>10 @41: @; @41 >1
/-88
(41 >12A:0? >-:310 A< @;
2;>
95885;: -852;>:5
-:? C4; 25810 @-D >1@A>:? 5:
2;> /;A<81? 2585:3
6;5:@8E
! %
% &
! !
% !!
'$,+ %
$ & $!'
!%& $! %
$
$ &
&
&
!( $
&-%
"
&! #'
&
% !) (
%! & !( $
!'$&
&!
!$ !$
%
! ' % ! &! )))
!$
! '% &
&
%
!2!- ,-+&! / .(+2. /- ""%
)!$ !$ &
%&
$'
$ ! &! !'& ) %& !' ( $
) $ $! &
'%
%! &$
!
$&
+%
$ ! ' % + %"
!& &
!$
$!
& $ !!
! $& $ &
$!-%""5. ""% ! 2 -*. +"
(+ ( --!./ 2 -- */ . )
(41 ';:;9- ;A:@E '41>522L? $225/1 5?<-@/4
1:@1> 8-?@ C117 >1/15B10 ?1B1>-8 /-88? 2>;9 /;:
/1>:10 /5@5F1:? C5@45: @41 ;A:@E ;2 ';:;9- >1
<;>@5:3 @41E 9-E 4-B1 .11: - <;??5.81 B5/@59 5: -:
I->>1?@ C->>-:@J ?/-9
(41 /5@5F1:? /;:@-/@5:3 @41 '41>522L? $225/1 >1
<;>@10 @41E >1/15B10 - @181<4;:1 /-88 2>;9 - 9-81
C4; 501:@52510 459?182 -? -: 19<8;E11 C5@4 @41
'41>522L? $225/1 A?5:3 @41 -85-? :-91? ;2 >1:@
;:1? ;> (;99E ;:1?
(41 9-81 /-881> >1<;>@10 @; @41 /5@5F1:? @4-@ @41
'41>522L? $225/1 4-0 -: -/@5B1 C->>-:@ 2;> @415> ->
>1?@ -:0 5: ;>01> 2;> @41 C->>-:@ @; .1 :; 8;:31> -/
@5B1 @41 /5@5F1:? C1>1 05>1/@10 @; <A>/4-?1 - >11:
;@ /->0 -@ -:E 9-6;> 0>A3 3>;/1>E ;> /;:B1:
51:/1 ?@;>1 -:0 -2@1> 0;5:3 ?; @41E C1>1 05>1/@10
@; <8-/1 - >1@A>: /-88 .-/7 @; - B;5/1 9-58 .;D -:0
81-B1 @41 501:@525/-@5;: :A9.1> ;2 @41 >11: ;@
/->0 @41E 4-0 <A>/4-?10
?5958-> ?/-9 ;2 @45? :-@A>1 ;//A>>10 - /;A<81
C117? -3; 5: @41 ';:;9- ;A:@E 'A<1>5;> ;A>@?
@ 81-?@ 2;A> /5@5F1:? >1/15B10 @181<4;:1 /-88? 2>;9
-: A:501:@52510 9-81 05>1/@5:3 @419 @; <-E - 9;:
1@->E 25:1 @; /81-> -: ->>1?@ C->>-:@ 2;> @415> 2-58A>1
@; >1<;>@ 2;> 6A>E 0A@E
(41 '41>522L? $225/1 C->:? -3-5:?@ 35B5:3 <1>
?;:-8 5:2;>9-@5;: ;> 9;:1E @; -:E;:1 C4; /-88?
?1175:3 <-E91:@ @; /81-> -: ->>1?@ C->>-:@ -:0 @;
599105-@18E /;:@-/@ @41 8;/-8 8-C 1:2;>/191:@
-31:/E 5: @415> 6A>5?05/@5;:
+0*# /+ (! /0-! /
+*
$%./+-4 +" +0/ ++- ,-+/!./.
1E;:0 -: A>.-: ;005@E @41
$//A<E ";B191:@ /-9<? @4-@
?<>A:3 A< -/>;?? @41 :-@5;: 5:
@41 2-88 ;2
>121>1:/10 8;:31> 45?@;>E ;2 /-9<5:3 -:0
?811<5:3 ;A@?501 5: 91>5/-:
45?@;>E 2>;9 5B58 +-> B1@1>-:?
:-@5;:-8 <->7 B-/-@5;:1>? -:0
4;9181?? @>-:?51:@?
I E /-9<5:3 ;A@ 5: <A.85/
<8-/1? @41 -/@5B5?@? C-:@10 @;
0>-C -@@1:@5;: @; @41 5??A1? ;2
<;85@5/-8 9->35:-85F-@5;: -:0 >5?
5:3 C1-8@4 5:1=A-85@E J ?-E?
%4;1.1 '
,;A:3 ??;/5-@1
%>;21??;> ;2 5?@;>E -@ @41 ):5
B1>?5@E ;2 ;8;>-0;
,;A:3 C588 <>1?1:@ I(41 $/
/A<E ";B191:@ $A@0;;> %;85
@5/? -:0 @41 5?@;>E ;2 91>5/-:
-9<5:3J 5: - ?<1/5-8 81/@A>1
@;0-E "->/4
2>;9 :;;:
< 9 5: '-8-F->
-@ ';:;9'@-@1 ):5B1>?5@E (41 1B1:@ 5?
4;?@10 .E @41 5?@;>E -:0 @41
:@4>;<;8;3E 01<->@91:@? -:0
@41 '/4;;8 ;2 ';/5-8 '/51:/1?
I 8@4;A34 @41 @1:@ -<<1->10
?59A8@-:1;A?8E ;.B5;A? -A0/5;A? -:0 :-@A>-8 @41 @1:@ 5? 71E
@; A:01>?@-:05:3 @41 9;B191:@ ?
>1?;:-:/1 5: 91>5/-: <;85@5/-8
/A8@A>1 J ?41 ?-E?
1> @-87 C588 ?A331?@ 4;C @41
@1:@ 1B;710 C-E? 5: C45/4 :@A>1 -:0 ;A@0;;>? 4-B1 ?1>B10
45?@;>5/-88E -? />5@5/-8 ?<-/1 2;>
:13;@5-@5:3 <A.85/ .18;:35:3 -:0
:-@5;:-8 501:@5@E @ 5? <->@ ;2 41>
:1C <>;61/@ I'811<5:3 $A@?501
(41 %A.85/ #-@A>1 ;2 -9<5:3 5:
91>5/- J ,;A:3 5? @41 -A@4;> ;2
I -852;>:5- *516- A8@A>1 -:0
"19;>E 5: - ";01>: 91>5/-:
%8-/1 J
)
#
"
# '( % )
$)( $ " () - '.(
'!
#%' & )*' ( '%# & $ $
%*) , ()
%$ "
- ) ,,, ) %##*$ )-+%
!
#& %$( & "" () ' ) # # '
%#
$)
"
&! $
#
*
& $$
-
' #%$- %$
'
)
'! $ % $ ')
$
" )
$ " %,'- " ) % )
"
&! $ %%!
"*
-) # $
( '%) '
% )
(
)'%( +
%) ' " ))"
*
) ' , "! $ $ )
%& $ $
- & '
"
'!
%$ )*' - )
$
" )
(
'()
+ ' % )
# % )
"
&! $
$)( ( '() *& )%
) *' $
$
" )
116$#.. /14' 2127.#4
; #8' !+..+#/5
.. ;17 *#8' 61 &1 +5 .11- #6
6*' 6'.'8+5+10 4#6+0)5 61 -019
(116$#.. +5 8#56.; /14' 2127.#4
6*#0 $#5'$#.. 10 6*' /'4+%#0
52146+0) .#0&5%#2' *' 72'4
19. #0& %1..')' (116$#..>5
%*#/2+105*+2 )#/'5 #.9#;5
!
!
59#/2 6*' 4#6+0)5 1( 6*' !14.&
'4+'5 14 1..')' !14.& '4+'5
>.. #&/+6 >/ 10' 9*1
24'('45 (116$#.. 61 $#5'$#.. ,756
#$176 #0; &#; *'4' #4' *19
'8'4 %'46#+0 64#&+6+105 +0 $#5'
$#.. 6*#6 (116$#.. %#0016 /#6%*
0& 10' +5 2'0+0) #; 9*+%*
10 '8'4; .'8'. *1.&5 /14' 24'5
6+)' 6*#0 (116$#..
2'0+0) #; +0 $#5'$#.. +5
*'4#.&'& #5 # 4+6' 1( 524+0) 14
(116$#.. +6>5 5+/2.; 6*' 5'#510
12'0'4 14 6*' (+456 )#/' 1( 6*'
5'#510 2'0+0) #; +0 $#5'
$#.. *#5 24'5+&'065 6*419+0) 176
6*' (+456 2+6%* 10 6*' 241('5
5+10#. .'8'. 0 +66.' '#)7' 14
+0 1*0'46 #4->5 %#5' 10 #674
&#; #. +2-'0 '#)7' 6*'4'
#4' 2#4#&'5 1( 2.#;'45 #0&
6'#/5 #.. &#; %'.'$4#6+105 +0
6*' 2#4- #0& (+0#..; $#5'$#..
.51 4'%14&5 +0 $#5'$#..
*#8' # 52'%+#. .14' (116$#..
4'%14&5 .#%- 156 521465 (#0
%#0 6'.. ;17 4+)*6 1(( 6*' $#6
#44; 10&5 1905 6*' 4'%14&5
(14 /156 *1/' 4705 #0& /156
*1/' 4705 +0 # 5+0).' 5'#510 14
6*#6 '6' 15' +5 6*' #.. 6+/'
*+65 .'#&'4 19 37+%-.; %#0
;17 0#/' 241 (116$#..>5 #.. 6+/'
.'#&+0) 475*'4 14 ;#4&#)' .'#&'4
+0 2#55+0)
*'
*#5 64+'& 61 ,#<< 72
+65 12'0+0) 0+)*6 1( (116$#..
9+6* %10%'465 564''6 (#+45 #0&
6*' .+-' $76 +6 (''.5 (14%'& #0&
%1064+8'&
#%* 6+/' # 0'9 ;176* $#5'
$#.. 5'#510 12'05 9*'6*'4 +6>5
+0 1*0'46 #4- 14 16#6+ #.
9#;5 4'%#.. /; &#;5 2.#;+0) #5
# -+&
6 6*#6 6+/' +0 ;174 .+('
#5'$#.. *#5 52'%+#. .14'
6*'4' 9'4' %'46#+0 &#;5 016
*1.+&#;5 ;17 '#)'4.; #06+%+
2#6'& 0' 9#5 6*' (+456 &#; 1(
+66.' '#)7' #5'$#.. 5+)0725
14 51/' 4'#510 ;17 ('#4'&
6*#6 +( ;17 /+55'& 6*' (+456 &#;
1( 5+)0725 ;17 '+6*'4 917.&
016 )'6 10 # 6'#/ 14 6*' 6'#/
;17>& 2.#; (14 917.& 016 $'
)11&
1 ;17 $7))'& ;174 2#4'065
#.. 9''- .10) 4'/+0&+0) 6*'/
61 /#-' 574' 6*'; 9'4' #8#+.
#$.' 61 6#-' ;17 61 5+)0 72
-019 /; 2#4'065 )16 5+%- 1( #..
6*' 4'/+0&'4 016'5 567%- 10 6*'
4'(4+)'4#614 1/ #%67#..;
56#46'& *+&+0) 6*' /#)0'65
*' 5'%10& #0:+175 &#; 9#5
9*'0 ;174 0'9 %1#%* %#..'& 61
6'.. ;17 9*#6 6'#/ ;17 9'4' 10
#0& 9*'0 #0& 9*'4' ;17>..
24#%6+%' 0%' ;17 -0'9 9*1
;17>4' 2.#;+0) (14 6*#6>5 9*'0
;17 56#46'& 61 24'2#4' ;174
$#5'$#.. ).18' 14 /+66 156 1(
/; (4+'0&5 .+-'& 61 1+. 6*'+4
/+665 $76 /; 24'('4'0%' 9#5
2.#%+0) +6 70&'4 /; 2+..19 9+6*
# $#5'$#.. +0 +6 9*'0 5.'26
*'0 6*'4' 9#5 6*' (+456 &#;
1( 24#%6+%' 0 6*#6 (+456 &#; >&
5*19 72 '#4.; *+&' 51/'9*'4'
#0& 9#6%* /; 6'#//#6'5 #4
4+8' *#6 )#8' /' 6*' 1221467
0+6; 61 5'' 9*1 9#5 10 /;
6'#/ 6 #.51 #..19'& /' 61
)#7)' $; 6*' 9#; /; 6'#/
/#6'5 6155'& 6*' $#.. +( 6*';
.11-'& .+-' 6*'; 9'4' #0; )11&
#5 2.#;'45 *'0 4+)*6 $'(14'
24#%6+%' 56#46'& >& $' 10' 1(
6*' .#56 10 6*' 24#%6+%' (+'.&
5 /7%* #5 ;17 &+& .11- (14
9#4& 61 6*' (+456 )#/' ;17
9'4' '37#..; #5 ':%+6'& 6*' &#;
$'(14' 9*'0 6*' %1#%* *#0&'&
176 70+(14/5 "17 64+'& 61 275*
61 6*' (4106 1( 6*' .+0' $'%#75'
;17 #.9#;5 9#06'& 61 /#-'
574' ;17 )16 # %11. 07/$'4
#0- #410>5 1
1*00;
'0%*>5 1
'6' 15'>5 1
'))+' #%-510>5 1
#-.#0& >5 6'8' #48';>5
1 !+..+' 6#4)'..>5 1 =
6*15' 9'4' 6*' %11. 07/$'45
'%#75' 6*'4' 9'4' 10.;
2.#;'45 10 '#%* 6'#/ 6*' 07/
$'45 9'06
#0& 9#5 # .+6
6.' *'#46$41-'0 $'%#75' &+&0>6
)'6 61 9'#4 1
1 5'66.'& (14 /; 5'%10&
(#814+6' 2.#;'4>5 07/$'4 756;
#-'4>5 1
*' 1&)'4 (#0
+0 /' 5#;5 +( *#& -0190 $#%6*'0 *'>& 9+0& 72 /#0#)+0) 6*'
+#065 241$#$.; 917.& *#8'
2+%-'& #016*'4 )7;
+0#..; 6*'4' 9#5 2'0+0)
#; *' 91456 2#46 1( +6 9#5 +(
;174 6'#/ 9#5 5%*'&7.'& 61
2.#; 10' 1( 6*' .#6'4 )#/'5
.10) #(6'4 6*' 2#4#&'5 #0& %'.'
$4#6+105 +0 6*' 2#4- 9'4' (+0
+5*'& ( ;17 *#& 10' 1( 6*15'
.#6' )#/'5 +6 9#5 /74&'4 10
;174 %1#%*
14 10' *' *#& 61 /#-' 574'
;17 &+&0>6 9#0&'4 1(( 611 (#4
;17>& /+55 6*' )#/' 0& *'
#.51 *#& 61 /#-' 574' ;17 #0&
;174 6'#//#6'5 &+&0>6 9'#4
;1745'.8'5 176 )11(+0) #4170&
$'%#75' 1( 611 /7%* (4'' 6+/'
$'(14' 6*' )#/'
#%* ;'#4 # 0'9 )4172 1(
$1;5 )'65 61 ':2'4+'0%' 6*' ':
%+6'/'06 1( 24'2#4+0) 6*'+4 (+456
).18' )'66+0) 6*'+4 0'9 70+
(14/ #0& 2.#;+0) 6*'+4 (+456
$#5'$#.. )#/' 6>5 0+%' 61 -019
51/' 6*+0)5 *#8'0>6 %*#0)'&
"
'! &*
"
)%# # $ "
"'!
/8' 85*?
/9);99/54 .'9 (+-;4 '354- 5.4+8: '81 /:?
5;4)/2 3+3(+89 '4* :.+ )/:?D9 9+4/58 '4'2?9:
8?)+ :1/49 )54)+84/4- :.+ ;9+ 5, )'9/45 3/:/
-':/54 )54:8/(;:/54 ,;4*9
:1/49 =.5 *8',:+* '4* 68+9+4:+* 68+2/3/4'8?
-5'29 (+,58+ :.+ )5;4)/2 :./9 =++1 .'9 (++4 /4
).'8-+ 5, :.+ 3/:/-':/54 '))5;4: 9/4)+ /:9 )8+':/54
/4 '8). 5,
".+ /:? 5, 5.4+8: '81 =/22
8+)+/<+
3/22/54 /4 -;'8'4:++* ,;4*9 ,853 :.+
)'9/45 '4*
3/22/54 /4 ,2+>/(2+ 454 -;'8'4:++*
,;4*9 =./). *+6+4* 952+2? 54 :.+ 9;))+99 5, :.+
(;9/4+99
B%+ 45= 4++* :5 9.'6+ .5= :.+9+ 3/:/-':/549
'8+ -5/4- :5 (+ ;9+* C 9'/* :1/49 ': :.+ )/:? )5;4
)/2 3++:/4- 54 ";+9*'? '8).
2:.5;-. :.+ .56+ /9 :5 8+):/,? '4? /36'):9 :.+
)'9/45 3'? )';9+ :5 :.+ )/:? /: 8+3'/49 ;4)2+'8 +>
'):2? .5= :.+ )/:? .'9 (++4 58 =/22 (+ /36'):+* (+
)';9+ 5, :.+ 4':;8+ 5, :.+ )'9/45 '9 =+22 '9 /:9
2553/4- +>6'49/54 /4:5 ' ,;22 9+8</)+ 8+958: !5
" ! $&
' %
?
$
"& &
!! $"(
$
% !"
&
$
& "! '! %
,&+#.0 .( 0, .#!#'2#
*'))',+ %1 . +0##"
*'))',+ '+ $)#4' )# +,+ %1 . +0##" $1+"/
,'8 :.+ 685659'2 )54:'/49 ,/<+ -5'29
B".+ </9/54 /4 :./9 *5);3+4: /9 :.+ 9'3+ '9 :.+
)/:/+9 </9/54 62'4 C 9'?9 :1/49 B".+ :'91 ,58)+ /9
8+)533+4*/4- :.': :.+ 62'4 .'<+ ' 9.'8+* </9/54
=/:. :.+ )/:? (+)';9+ :.+ )54:8/(;:/549 9.5;2* (+
' 6'8: 5, :.+ 9:8':+-/) 62'4 C
".+ /:/-':/54 "'91 58)+D9 *+<+2563+4:9 '8+
);88+4:2? /4 */9);99/54 '4* =/22 (+ '662/+* :5 :.+
,/9)'2 ?+'89
%./).+<+8 62'4 +<+4:;'22?
9;))++*9 =/22 8+3'/4 )259+ =/:. :.+ )/:/+9 <'2;+9
5, (+/4- ' B:.8/</4- ,'3/2? ,8/+4*2? )533;4/:?
:.': /9 ' 9',+ +405?'(2+ 62')+ :5 2/<+ =581 '4*
62'? C
B".+ )'9/45 56+8':/549 3'? 6;: 9:8+99 54 :.+
)/:? :.': 3'? /36'): 5;8 9+49+ 5, )533;4/:? C
9'/* :1/49 5;:2/4/4- 5'2
B".+ /4:+4: /9 :5
*
9:8+4-:.+4 :.59+ (54*9 '4* 8+:'/4 ' 9+49+ 5,
68/*+ C
5;4)/2=53'4 '3 !:',,58* .+2* )54)+84 ,58
:.59+ ',,+):+* (? :.+ 56+4/4- 5, :.+ )'9/45 '4*
.56+9 :.59+ 58-'4/@':/549 )5;2* (+ /4)2;*+* /4
:.59+ '/*+* (? :.+ 3/:/-':/54 ,;4*9
B 145= =/:. 54+ 5, 5;8 454 685,/: 58-'4/@'
:/549 :.': 9651+ :5 +(;/2*/4- "5-+:.+8 :.+? .'*
'):;'22? '2359: /33+*/':+2? ,+2: ' *856 /4 ,;4*/4:.85;-. :.+/8 (/4-5 -'3+ 4/-.: :.': :.+? .52*
=++12? '9 9554 '9 :.+ )'9/45 56+4+* C 9.+ 9:':+*
B".59+ '8+ ,;4*9 :.': :.+? *+6+4*+* 54 :5 ,;4*
:.+/8 685-8'3 )'4 9++ :.': =+ 3/-.: .'<+ :5 (+
.+26/4- 953+ 5, :.+ 454 685,/:9 /4 5;8 )533;
4/:? C
: (+)'3+ )2+'8 *;8/4- :.+ */9);99/54 :.': /:
=5;2* 9554 (+)53+ </:'2 :5 +*;)':+ :.+ 6;(2/) 54
=.': :.+ ,;4*9 )5;2* (+ ;9+* ,58 '4* 8+:8/+<+
9:854- )2+'8 )533;4/:? /46;:
B%+D8+ (+/4- '91+* :5 */9);99 '4* 35<+ ,58
='8* =/:. :./9 '4* =5;2* 9;--+9: :.': =+D* 4++*
:5 -5 5;: /4:5 :.+ )533;4/:? C 5;4)/23'4 '1+
')1+4@/+ 9'/*
B ='4: :5 3'1+ 9;8+ :.': =+D8+ 2551/4- ': '22
:.+ */,,+8+4: :?6+9 5, )533;4/:/+9 C 9'/* 5;4)/2
=53'4 /4' +2,58:+ B 5: 0;9: 8+9/*+4:/'2 (;:
(;9/4+99 )533;4/:/+9 :.+ 9).552 */9:8/): ='4:
+<+8?(5*? :5 ,++2 2/1+ :.+? .'<+ ' ).'4)+ :5 (+
.+'8* C
%/:.
3/22/54 ' ?+'8 )53/4- /4:5 :.+ '9/45
/:/-':/54 ;4* )54)/9+ 68+2/3/4'8? 62'49 '8+
</:'2 /4 58*+8 ,58 :.+9+ ,;4*9 :5 (+ ;:/2/@+* )58
8+):2? ,58 :.+ )/:?D9 (+9: ;9+
".+ :'91 ,58)+ =/22 9554 3'1+ +,,58:9 :5 8+').
5;: :5 :.+ )533;4/:? /4 58*+8 :5 (+9: '662? :.+9+
,;4*9
5:':/ )5;4)/2
58*+89 (')1;6
62'4 ,58 (;*-+:
'05 .# "'#/ $,.
)),0 *# /1.#7/
-,//' )# $ ')1.#
? '<+ %/22/'39
".+ 5:':/ /:? 5;4)/2 /9 :8?
/4- :5 )5<+8 '22 /:9 ('9+9 =.+4 /:
)53+9 :5 /:9 ,;:;8+ (;*-+: 62'49
: ' 96+)/'2 (;*-+: =5819.56
54 54*'? 4/-.: :.+ )5;4)/2 /4
9:8;):+* )/:? 9:',, :5 )53+ ;6
=/:. ' )5;62+ 5, (;*-+:9 A 54+
9.5=/4- )54:/4;+* 8+<+4;+ ,853
:.+ +>:+49/54 5, 5:':/D9 25)'2
,;4*/4- 3+'9;8+ ': :.+ 54+ )+4:
8':+ '4* ' 9+)54* (;*-+: *+:'/2
/4- =.': );:9 =5;2* (+ 4+)+9
9'8? =/:.5;: :.+
/4
8+<+4;+ :.': +'9;8+ );88+4:2?
-+4+8':+9
".+ 54+ )+4: :'> 8':+ 5:':/
99+4:/'2 /:? !+8</)+9 +'9;8+
=/22 -5 (+,58+ 5:':/ <5:+89 /4 '
96+)/'2 +2+):/54 54 ;4+
<+4
:.5;-. 9:':+=/*+ )'4*/*':+9 '4*
685659/:/549 =/22 (+ 54 :.+ ('2
25: /: /9 :+83+* ' 96+)/'2 +2+):/54
(+)';9+ /: /9 45: /4 5<+3(+8 /4
'4 +<+4 4;3(+8+* ?+'8
&# 0 )'6 #0& /#2#+0& %. "# %'.)/ /(#0 )) 0# * ,$ ,&+#.0 .( 3,+ 0&# 0&,)'! ,10& .% +'6 0',+ # %1# /(#0 )) !& *
5:':/ <5:+89 '6685<+* +'9
-',+/&'- $,.
&# 0# * !,+/'/0/ ,$ $.,+0 .,3 $.,* )#$0
5),. ,4/'# 5)#. ,*#/ )#4'/ ,+'6 ')#5 0#/ #//'! &'))'-/
;8+ /4
=./). 8'/9+* :.+
!( .,3 $.,* )#$0 , !& ,&+ ,*#/ ))'/,+ ')"
1.#+ ),5"
0'# !&'# ,)"
5 . &* +' 5)## #))#/ +" , !& ,#
)/:?D9 9'2+9 :'> 8':+ (? 54+ .'2,
!&'# ,)"
)+4: : /9 9).+*;2+* :5 9;49+: /4
&,0, !,1.0#/5 ,$ #+"' ,4'#
".+ )/:? )5;4)/2 */9);99+*
:.+/8 68/58/:/+9 '4* .5= :5 (+9:
)54:/4;+ :5 685</*+ +99+4:/'2
9+8</)+9 :5 8+9/*+4:9 4)2;*+* /4
:.+ +<+4/4-D9 */9);99/54 =+8+
:.+ 6599/(2+ );:9 :5 9+8</)+9
9.5;2* :.+ ;6)53/4- 3+'9;8+
='4:+*
:5
96+4*
:.+/8
(8+'1
45:
8+2'>/4);2:;8'2
=5819.569
/4:85*;)/4"'86;3
25
!:;*+4:9 :5 96+4* :.+/8 968/4- (;: .+26/4- 5:.+89
)'29 :5 :.+ );2:;8+ 5, :.+/8 8+96+):/<+ .53+ ,'/2 :5 6'99 /:? '4'-+8 /
(8+'19 6+8,583/4- 4+)+99'8?
"8'<+2/4- :5 "'86;3 '? ='9 9;--+9:+* )5;4:8/+9 5, 8'4 +8; "'/='4 +4?' '4* '44+ ".536954 6'/4:9 ' (2+'1
:.+ #4/:+* !:':+9 4 8+:;84 3+3(+89 5, :.+ 6/):;8+ 9.5;2* 5:':/ <5:+89 8+
9+8</)+ :5 )5;4:8? /4 '.'3'9 :5 :.+ 9:;*+4:9 (? 8'<+9 =.5 .'* (++4
:8'<+2/4- :.+8+ ,58 <52;4:++8 =581 5, .+8
2+;:.+8' 5:'8? 2;( '4* 25)'29 =/22 .59: 0+): :.+ :'> 3+'9;8+
B%+ .'<+ :'1+4 +>:8+3+
? ':'2/+ 8'?
5=4 ))58*/4- :5 8'<+9 :.+ /92'4* /9 ;4 ' );2:;8'2 =5819.56 5, :.+/8 5=4 :5 :+').
3+'9;8+9 :5 );: )59:9 C ".536
%.+8+ 359: !5453' !:':+ 9:;*+4:9 '8+
)53,58:'(2? )259+ :5 =.': )5;2* (+ )549/* :.+ !!# </9/:589 '(5;: :.+/8 .+8/:'-+ '4*
954 9'/* B ;: =/:. :.+ 54-5/4359: 2/1+2? )8599/4- 5,, :.+ *'?9 54 :.+/8
+8+* B:./8* =582*C 9:':;9 =/:.
);2:;8+
)'2+4*'89 '9 ' )5;4:*5=4 ,58 :.+/8 7;/)12? ;4+3625?3+4: 8':+9 ': ' */@@?/46+8
B 22 :.+ 9:;*+4:9 9'/* :.+? ,+2: 96/8/:;'22? 9:':+ (;*-+: :'1+'='?9 /4)2;*
'6685')./4- 968/4- (8+'1 +'-+82? '='/:/4- )+4:
)544+):+* C 9'/* 8'<+9 8+,+8+4)/4- 45:+9
:.+ 56658:;4/:? :5 8+2'> '4* '<5/* 8+96549/
".+
6850+): ='9 ,58 :.+ :.+4 9+<+4 :'1+4 ,853 9:;*+4:9 *;8/4- 68+</5;9 ?+'89D
(/2/:?
3+3(+89 5, :.+ 25)'2 5:'8'):
9:;*+4:9 :5 8+45<':+ '4 52* 9).552.5;9+
</9/:9 :5 "'86;3 '? B 5: /4 ' 8+2/-/5;9
2;( '8+ 68+6'8/4- ,58 =.': :.+? '8+ )'22/4- '('4*54+* ',:+8 ' )5;62+ 5, ('* 9:5839 '4* 9+49+ (;: )544+):+* /4 :.+ 7;/+: '4* 25=
'4 '2:+84':/<+ 968/4- (8+'1
?+'89 5, 4+-2+): '4* :;84 /: /4:5 ' 4+= );2
1+? 4':;8+ 5, "'86;3 '? '4* =/:. (+/4"./9 :8/6 :.5;-. =/22 (+ '4?:./4- (;:
:;8'2 )+4:+8 8'<+9 '*3/::+* :.': 359: 5,
/4 '45:.+8 =582* =/:.5;: :+).4525-? C
8+2'>/4- ':.+8 /: =/22 (+ :.+ +>'): 5665
:.+ =581 ='9 )5362+:+* (? 25)'29 ',:+8 :.+
".+ !!# 5:'8'): 2;( /9 ' 9;(9/*/'8? 5,
9/:+ =/:. +/-.: *'?9 *+*/)':+* :5 8/-585;9
9:;*+4:9 2+,: (;: 9'/* :.+ )533;4/:? 8+658: :.+ '4).5 5:':/ '4* !'4:' 59' '9: 5
? 54 /((2+
:.+
<52;4:++8 =581 !':;8*'? '8).
+*2? ='9 -8':+,;2 ,58 :.+ .+26
:'8? 2;(9 '4* 953+ 96549589./6 '4* *54'
"./9 2'9: 54*'? 4/-.: ': :.+
5:'8'): 9:;*+4:9 '8+ 2+'</4- :5 "'86;3
:/549 ,58 :./9 ?+'8D9 :8/6 '295 )'3+ ,853 :.+
2'9+8 +4:+8 /4 !'4:' 59' :.+
'? 54 2+;:.+8' 92'4* /4 :.+ '.'3'9
&'$! ! &" &
% !
+:'2;3' 5:'8?
!5453' 5;4:? :.+':+8 )53
=.+8+ :.+? =/22 =581 :5='8*9 =.': :.+?
5= :.8++ ?+'89 2':+8 !!# 5:'8'): /9
49:8;3+4:9 =+8+ (5:. 6;8).'9+* =/:.
3;4/:? -':.+8+* :5-+:.+8 :5
.56+ =/22 .+26 '4* /3685<+ :.+ 25)'2 )53
8+:;84/4- :5 :.+ /92'4* '4* :.+ );2:;8'2 )+4
*54':+* 354+? '4* -/<+4 :5 :.+ )2;( (? :.+ .5458 +'). 5:.+8 ,58 '4 '3'@
3;4/:? ".+ 9:;*+4:9 '8+ (8/4-/4- =/:.
:+8 =./). =/22 (+ :.+ 25)':/54 5, :.+/8
!!# ;9/) +6'8:3+4:
/4- ?+'8 /4 :.+':+8
:.+3 /49:8;3+4:9 :.': /4)2;*+ :8;36+:9 '4* 3;9/) 2+99549 '4* :.+ 4+= .53+ ,58 :.+
5.4+8: '81D9 !68+)1+29
+<+4 ' 6/'45 :5 *54':+ :5 :.+ 9+::2+3+4:
*54':+* 6/'45 ".+ 3;9/) 2+99549 =/22 (+
$ ( % %& * !
& %&
".+':8+ '4* :.+ :. !:8++: 2'?
354- :.+ :8'<+2/4- 9:;*+4:9 '8+ 3;9/)
.+'*+* (? 5:'8'): 3+3(+8 '4* 9+4/58
8'<+9 =54D: '))536'4? :.+ 9:;*+4:9 54 .5;9+ /4 !'4:' 59' (5:. .'*
3'0589 '4* 62'?+89 =.5 62'4 :5 :+'). 25)'29 3;9/) 3'058 +8/99' 522+? ".+ 9:;*+4:9
:./9 :8/6 (;: =/22 /49:+'* </9/: :.+ /92'4*
3'4? 685*;):/549 ;6 ,58
:.+ /49:8;3+4:9 *;8/4- :.+/8 9:'?
.56+ :5 ,583 ' ('4* '354-9: :.+ 25)'29 95 ',:+8 :.+/8 8+:;84 :5 /4:+8</+= 25)'29 54 :.+
'='8*9
:.+? )'4 )54:/4;+ :5 (;/2* '4* 68'):/)+
9:;*+4:9D 6+8,583'4)+9 '4* .+26 '4* :.;9
B 4+ 2+= <+8 :.+
#$ % !& ! "!"
"'!&* )
:.+/8 3;9/)'2 91/229 '4* )533;4/:?
*+)/*+ 54 :.+ -8'*+ :.+? =/22 8+)+/<+ !:;
;)155D9 +9:C ='9 :.+ (/B :./41 :.': :.+9+ 9:;*+4:9 '8+ -/</4;9/) /94D: :.+ 542? 2+9954 :.+ 5:'8'):
*+4:9 '::+4*/4- :.+ :8/6 '8+ :5 8+)+/<+ :=5
=/44+8 ='21/4- '='? =/:. (+9:
!5453' 5;4:? ' 8+'22? -55* 8+68+9+4:'
2;( 62'49 :5 :+'). *;8/4- :.+/8 9:'? +3 ;4/:9 5, )522+-+ )8+*/: ,58 95)/'2 +4:8+68+
:.+':8/)'2 685*;):/54 (+9: */
:/54 C 9'/* 5:'8'): '*</958 8 '8?
(+89 '85* !'2/4'9 '4* 3/2? .+4 =/22
4+;89./6 )5;89+9 :';-.: (? 8'<+9 '4* 8 8+):58 +44/+ +'4 (+9: '):58
8'<+9
.59: =5819.569 54 $ '4 /4:+84+: ('9+*
5(+8: /82/4* ) 5;* (+9: 9;6658:/4!:;*+4:9 .'<+ (++4 62'44/4- :./9 :8/6
685-8'3 :.': '225=9 ,58 6+562+ :5 2+4*
".+ 9:;*+4:9 =/22 8+:;84 :.+ ,5225=/4'):58 '22'9 ;4-+8 '4* (+9:
9/4)+ ):5(+8 5,
(;: 68+6'8':/549 8+
354+? :5 ;4*+868/</2+-+* +4:8+68+4+;89 /4 !;4*'? ".5;-. :.+ +/-.: *'?9 =/22 (+ (;9? 95;4* '4* 3;9/) *+9/-4 ,58 5+
'22? (+-'4 /4
=.+4 :.+ ,/89: ='<+ 5,
358+ :.'4
*/,,+8+4: )5;4:8/+9 ':8/)1
'4* ,/22+* =/:. =5819.569 )2'99+9 '4* <52
%/412+8
!!# 5:'8'): 9:;*+4:9 )8'9.+* 5<+8 :.+
'254+? =/22 (+ ,854:/4- ' =5819.56 54
;4:++8 =581 8'<+9 :./419 /: 3/-.: (+ 659
"./9 ='9 (? ,'8 :.+ (+9: 685
"'86;3 9.58+9 ))58*/4- :5 8'<+9 :.+
93'22 (;9/4+99 *+<+2563+4: +3(+89 !'8' 9/(2+ ,58 :.+ 9:;*+4:9 :5 97;++@+ /4 0;9: '
*;):/54 ': :. !:8++: 8:/9:/) */
968/4- (8+'1 <52;4:++8 =581 (+-'4 9/362?
/4'8/ 4*8+' </2+9 /-'8859:+-;/
2/::2+ (/: 5, (+'). :/3+ 54 :.+ '.'3'9
8+):58 8'/- /22+8 .'9 (++4
=.+4 :.+
)2;( 3+3(+89 *+)/*+* :.+?
/).+22+ !+<; '4* 3/2? .+4 =/22 2+'*
9.58+9
*5/4- '4 '3'@/4- 05( 9/4)+ .+
.'9 :'1+4 5<+8
45:.+8 453/4++ ,58 (+9:
:.+':8/)'2 685*;):/54 ='9
B&5;4- 8'41+49:+/4 C !68+)1
2;(
8+*5
8+*5
/-.
/4 ' 25)'2 4+=96'6+8 6522
8+*5 9:;*+4:9 6+8,583/4- 58/- ?/+2* :.+ 9:'-+ :5 :.+ 8+*5 +29D (+9: 685*;):/54 2'9: ?+'8
=54 ,58 (+9: 9;6658:/4- '):8+99
!).552D9 9:;*+4: 8;4 4/-.:)2;( :.+ /-.='? 5+:9 (2+4* -'8'-+ /4'2 =581 '4* 6/+)+9 (? 8+*5 5+:9
'8? '4454 8'.'3 '4',58 '*;2:9 '4* :++49 =/22 .59: 85)1 =/:. ,521 /49:8;3+4:':/54 6'8+4: "/35:.?
544 '4*
"/)1+:9 '8+
': :.+ *558
3;9/)'2 '):9 :.+ /-.='? 5+:9 '4* 95;2 /496/8/4- 954- )8',:/4- :+').+8 '4* 6+8,583'4)+ 65+:
8+*5 /-. ' %'2*58, ).'8:+8+* /4- */8+):58 +4+ (8'<'?' .'9
'295 (++4 *5/4- '4 '3'@/4- 05(
'4* :.+ 8+*5 5+:9 54 8/*'? ,58 ' ,;4 ,8+9. '4* 3+358'(2+
'4 '/4+9
./-. 9).552 /9 25)':+* ':
'8).
': 6 3
95;4*
+:=++4 954-9 :.85;-.5;: :.+ !5;:.=+9: 2<* /4 5.4+8: 9/4)+ .+ :551 :.+ 8+/49 /4
4+ 5, 3? ,'<58/:+ 9.5=9
.59+4 +9: !5453' '4* 5,
".+
8+*5 5+:9 /4)2;*+ +<+4/4- :.+ /-.='? 5+:9 =/22 '81
$%
# "!%
,0,. !07/ .# "5 0, !0 '+
.-1*
5
/4:./9 ?+'8 '254+ :.+
)/:? .'9 <+8? ,+= 56:/549 ".+
8+'2/:? 5, =.': :.+ )/:? =/22 4++*
:5 *5 =/:.5;: '**/:/54'2 ,;4*/4A /4)2;*/4- :.+ 6599/(/2/:? 5,
)54:8'):/4- =/:. 5:.+8 6;(2/)
9',+:? 685</*+89 58 :.+ +2/3/4'
:/54 5, 5:':/ '9 '4 /4*+6+4*+4:
/:? A .'9 :5 (+ '99+99+* C
".+ /:? 5;4)/2 <5:+* ;4'4
/35;92? :5 62')+ :.+ 25)'2 ,;4*
/4- 3+'9;8+ 54 :.+ ('225: ': /:9
+(8;'8? :. 5;4)/2 3++:/4".+ 5;4)/2 .'* *+)2'8+* ' /9
)'2 3+8-+4)? ': :.+ 68+</5;9
3++:/4- )/:/4- :.+ )54:/4;+*
354+? -8'(9 ,853 !')8'3+4:5
:.': .'<+ )59: :.+ )/:?
3/2
2/54
".+ )5;4)/2 '91+* :.': )/:?
9:',, (+-/4 2551/4- ': )59: 9'</43+'9;8+9 /4)2;*/4- :.+ +2/3/4'
:/54 5, 5:':/D9 5=4 25)'22? 8;4
652/)+ *+6'8:3+4: '4* );:9 :5
)8/3+ 68+<+4:/54 *53+9:/) </5
2+4)+ 8+96549+ 9:8++: 3'/4:+
4'4)+ '4* 65:.52+ 8+6'/8
9+8</)+9
B".+ 5;4)/2 8+)5-4/@+9 :.+
/3658:'4)+ 5, 5:':/ 8+9/*+4:9D
6;(2/) 9',+:? '4* :.+ 4++* ,58 :.+
)/:? :5 3'/4:'/4 /:9 25)'22? 8;4
652/)+ *+6'8:3+4: C 5:':/ 52/)+
./+,
/).'+2
'8/9. 9'/*
B 5=+<+8 =/:.5;: '**/:/54'2
8+<+4;+ 5:':/ =/22 (+ ,58)+* :5
9++1 '2:+84':/<+9 =./). =/22 ;2:/
3':+2? 2+'* :5 254-+8 +3+8-+4)?
8+96549+ :/3+9 '4* :.+ 2599 5,
25)'2 652/)+ 5,,/)+89 68+<+4:/4'4* /4<+9:/-':/4- 6856+8:?
)8/3+9 C
295 */9);99+* ': :.+ =581
9.56 =+8+ :.+ 9:+69 :.': .'<+ '2
8+'*? (++4 :'1+4 :5 );: )59:9
/4)2;*/4- ' 6+8)+4: 8+*;):/54
/4 9:',, '4
6+8)+4: 8+*;):/54
/4 :.+ 5<+8'22 -+4+8'2 ,;4*
(;*-+: '4* 8+*;)+* +3625?++
(+4+,/:9
!68+)1+29 :. !:8++:
9./4+ ': :.+':+8 '='8*9
$ " &" "%& &
) * " &%
$
! #
To 24
wi H
ng ou
Se r
rv
ic e
Wee are a family
amily owned and operated business
of
offering
ffering friendly
friendly,, high-quality
ality service and repairs.
Lien Sale Cars
To w i n g
We offer private property towing
3971 Santa Rosa Ave, Santa Rosa
588-1250
Used Auto Parts (707) 546-7553
Replace Wiper Blades
Clean Windshield & Lights
Oil & Filter Change
op Off All Fluids
TTop
essure
Pressure
Tires & Adjust Pr
Check Tires
ake Inspection
Brake
Br
oint Safety Check
Point
27 P
*I
Wipnclud
er B ing
lad
es
,853 2'9: ?+'8 ='9 B +9 /9+8
'(2+9 C
: ='9 685*;)+* ': :.+ !'4:'
59' ;4/58 522+-+ '4* ='9
'295 453/4':+* ,58 (+9: :.+':8/
)'2 685*;):/54 ".+ 54+ '='8*
/: =54 ='9 ,58 (+9: 2/-.:/4- *+
9/-4 (? !1?2'8 <'49 ".+ )'9:
='9 0;9: '9 -55* '9 :.+ )'9: 54
85'*='?
+4/9+ 2/' &+4 =54 ,58 (+9:
'):8+99 ,58 B!/4-/4D /4 :.+
'/4 C 685*;)+* ': :. !:8++:
B!/4-/4D /4 :.+ '/4C '295 =54
(+9: *'4)+ ).58+5-8'6.? ,58
';8/+ 25*5=91/ '4* (+9: 3;
9/)'2 */8+):/54 ,58 +40'3/4
+8:@ =./). :/+* =/:. '954
!.+8(;4*? ,58 B!6'3'25: C '295
685*;)+* ': :. !:8++:
".+ (+9: 353+4: 5, :.+ 4/-.:
='9 =.+4 6;(2/)/9: /3 "'?258
68+9+4:+* 8/) .'@'41/4 =/:.
:.+ ,/89: .5458'8? '='8* ,58 ./9
'3'@/4- 6.5:5-8'6.?
.'@'41/4 .'9 6.5:5-8'6.+*
68'):/)'22? +<+8? :.+':8/)'2 685
*;):/54 /4 !5453' 5;4:?
"'?258 )8+':+* '4 '3'@/46.5:5 354:'-+ :.+ ';*/+4)+
9'= (+,58+ .'@'41/4 ='9 68+
9+4:+* =/:. ./9 '='8*
#
4&+ 7 /-,26$)'. 7
"
'1' +2 $ )1'$3 23$13 3/ $5+.)2
/((
$%/1
$75 Value
Applies to most vehicles. Price good with this coupon.
Up to 6 quarts of motor oil. Diesel and synthetic extra.
a. Not valid with any other of
offer.
offer
fer. Expires 3/31/14
Don’t
Don’
’t just take our word for it, give us a try!
or visit us a
at:
t:
www.
www.B
BowensAutomotive
owensAutomotive.c
.com
om
Approved
Auto Repair
! 7 +.+ //0'1
'&6//& 1
3'
/*.'13 $1,
)"
/
) !
.*( ( ) '
'!& )+
)#
'+ +"
&& )'-
!
'%%,&"+/
'"
% !+%02 &.0 1)'-1 .& *)$-%6 $)1%!1%
3=:94. 64/90D /4>0,>0 4> :9
?30 =4>0 ,9/ 4? ?09/> ?: ,110.?
:7/0= ;0:;70 ,? , 34230= =,?0
?3,9 4? ,110.?> D:@920= ;0:;70
2492 ;,=09?> >;:@>0> ,9/
.,=024A0=> >3:@7/ -0 ,B,=0 ?3,?
64/90D /4>0,>0 4> :1?09 ,
I>4709?J /4>0,>0 49 8,9D .,>0>
4? .,9 2: @9/4,29:>0/ @9?47 ?30
.:9/4?4:9 3,> ;=:2=0>>0/ >42941
4.,9?7D
,=7D 4/09?414.,?4:9 .,9 /014
94?07D ;7,D , >?=:92 =:70 49
-=492492 ,-:@? , 8:=0 1,A:=,-70
:@?.:80 1:= ;0:;70 B4?3 64/90D
/4>0,>0
#'
'
" (
$ !
!
" (
%"
"
.() **
,))#+'
#
' "
!!
$ /
& "#$
-
&*
.# &
+
""
#
'*
'* %#!'*
$ #
""
&
"
'+ +#
#
#
!' +* #" & / "* *
9D:90 .,9 20? 64/90D /4>
0,>0 :B0A0= ?30 .3,9.0> :1
/0A07:;492 4? ,=0 2=0,?0= ,8:92
?3:>0 B3: 3,A0 /4,-0?0> :=
3423 -7::/ ;=0>>@=0 3,A0 ,
1,847D 34>?:=D :1 64/90D /4>
0,>0 ,9/ ,=0 1=4.,9 80=4.,9
!,?4A0 80=4.,9 := 4>;,94.
#
$ #
&
!
*
*+ ,) &+
,& "
#&& )
! + ) *'%
+/(" $ */%(+'%*
"1?09 64/90D /4>0,>0 .,9 -0
=07,?4A07D ,>D8;?:8,?4. 49 4?>
0,=7D >?,20> 3:B0A0= ,2492
;,=09?> >3:@7/ -0 ,70=? 1:= ?30
+
+
,&
-@? 64/90D> ;7,D , =:70 49 -7::/
;=:/@.?4:9 &30D 8,60 , 3:=
8:90 ?3,? 70?> ?30 -:/D 69:B
?3,? 8:=0 =0/ -7::/ .077> ,=0
900/0/
)309 ?30 64/90D> ,=0 /,8
,20/ >: 4> ?30 ;=:/@.?4:9 :1
?34> 3:=8:90
)309 ?30=0 ,=09L? ,> 8,9D
=0/ -7::/ .077> , ;0=>:9 1007>
8:=0 ?4=0/ ,9/ .:7/0=
F $ & "**, * & % %
')/ ()' $ %* ,A492 10B0=
=0/ -7::/ .077> ,7>: .,9 ,110.?
?30 -=,49 8,6492 4? 3,=/0= ?:
600; D:@= -,7,9.0 ,9/ =0808
-0= ?3492>
('+$" !+ '& &"')*
6 3+)% -- -$%01.1:77:B492 >D8;?:8> ?3,? >:80
?480> /0A07:;
F )"& +"'& "**, * #0:;70
B4?3 64/90D /4>0,>0 :1?09 900/
?: @=49,?0 8@.3 8:=0 1=0
<@09?7D ?3,9 ?30D ;=0A4:@>7D
8,D 3,A0
%:80?480> ?30=0 4> >429414
.,9?7D 70>> @=490 ,> B077 := 4?
8,D -0 1:,8D := , /,=6 .:7:=
9 >:80 49>?,9.0> ?30=0 8,D -0
-7::/ 49 ?30 @=490
F ") & ** & '$
$
"& * +:@ 8,D 9:? =0,74E0 ?34>
A:84?492
1 D:@ 3,A0 ,9D :1 ?30>0
>D8;?:8> -=492 ?308 ?: ?30 ,?
?09?4:9 :1 D:@= /:.?:= ,9/ ,>6
B30?30= ?0>?> ,=0 900/0/ ?: /0
?0=8490 B30?30= D:@= 64/90D>
,=0 30,7?3D
&B: ?D;4.,7 ?0>?> 1:= 64/90D
4>>@0> ,=0 ?30
$ 27:80=@7,=
147?=,?4:9 =,?0 ,9/ ?30 @=490
;=:?049 ?0>?
3=:94. 64/90D /4>0,>0 .,9
9:? -0 =0A0=>0/ -@? >?0;> .,9
-0 ?,609 ?: 600; 4? 1=:8 B:=>
09492 ?3,? 4> B3D 0,=7D /0?0.
?4:9 49 ,2492 ;,=09?> ,9/ :?30=>
4> .=@.4,7
F $," ,"$ ,( 4/90D
/4>0,>0 .,@>0> 17@4/ =0?09?4:9
=0>@7?492 49 >B:7709 702> ,9
670> 0?.
3+)% -- -$%01.- )1 2(%
.5-%0 .& .,% -12%!$ %-).0
#!0% .&&)#% )- .(-%02 !0*
,.2(%0 .& 25. !-$ /!11).-!2%
!".32 (%!+2(6 +)4)-' !2 !++ !'%1
F "&* &30 702> ,9/ ?30
!4)-' #!0%$ &.0 (%0 /!0%-21
-,.6 :1?09 1007 ;,49 =07,?0/ ?:
1(% 3-$%012!-$1 6.30 1203''+%1
;=:-708> B4?3 ?30 64/90D
!-$ !),1 2(0.3'( (%0 5%"1)2%
555 (.,%)-12%!$ #., 1.-.,!
F ,*
1 ?30 64/90D>
2. %$3#!2% !-$ %-#.30!'% 1%.,9L? =08:A0 >@114.409? B,>?0 4? ).01 !-$ #!0%')4%01 !4% !
B477 -,.6 @; 49?: ?30 -7::/
#!0%')4)-' .0 !')-' #.-#%08,6492 , ;0=>:9 1007 9,@>0,?0/
(%8$ +.4% 2. (%!0 &0., 6.3 !2
&30 .:9/4?4:9 :1?09 .,@>0>
!-62),%
, )) )'
',*+
)'%
*+ +
+ )
'( &"&
/
OFF
BREAKFAST
$4
$
FOR 2
LUNCH FOR 2!
2!
OR
OFF
O
$5
% JH 3/31/14 G
HV
301 Rohnert Park Expy. • (707) 584-3601
www.Sharis.com
.5 ,1. )10#+ .## '66 /
)10#+ .## .1/0 40. & .%#
2 ') )# 7
)/, 2 ') )#
&# 0 .1/0 '66 /
"
,0# /0
#
'66
#"'1*
&##/# '66
3'0& 0&# -1.!& /# ,$
7 ,. 7
/'%+ 01.# -'66
,0 2 )'" 3'0& +5 ,0&#. ,$$#.
4-'.#/
,$$
,$$
7 ,. 7
/'%+ 01.# -'66
,0 2 )'" 3'0& +5
,0&#. ,$$#.
4-'.#/
7 ,. 7
/'%+ 01.# -'66
,0 2 )'" 3'0& +5
,0&#. ,$$#.
4-'.#/
,0 0' 2#+1#
1+ &1
*
,&+#.0
-* .'
0
*
.(
-*
## ,1. )10#+ .## *#+1 0
333 #40.#*#-'66 !,* *#+1 %)10#+$.## &0*)
$,9.3: :?,?0 423L> =4,9
@0==0=: B,> 074849,?0/ 1=:8
?30 ,741:=94, 9?0=>.3:7,>?4.
0/0=,?4:9 %?,?0 )=0>?7492
3,8;4:9>34;> :9 =4/,D ,1?0= ,
>0.:9/ =:@9/ 7:>> ?: 07 "=:
423 5@94:= ,9>09 9207-=0.?3
;:@9/ B=0>?70=
&30
/=:;;0/ 34> :;09492 8,?.3 :1
?30 /:@-70 074849,?4:9 ?:@=9,
809?
?: ,=7:> 9,D, :1
!:=?3 :9?0=0D :@9?D 423
@0==0=: , ?B: ?480 >?,?0 <@,7
4140= 1494>30> ?34> >0,>:9 ,?
,9/ 34> .,=00= =0.:=/ 4>
@0==0=: B,> ?30 7:90 =0;=0
>09?,?4A0 ,? ?30 >?,?0 .3,8;4
:9>34;> 1:= $,9.3: :?,?0 0
<@,74140/ -D ;7,.492 ?34=/ ,? 7,>?
B006L> !:=?3 :,>? %0.?4:9 ?:@=
9,809? 9,D, B:9 ?30 09?=,7
:,>? %0.?4:9 .3,8;4:9>34; 7,>?
B00609/ ,9/ 9207-=0.3? B,>
1:@=?3 49 ?30 %,. :,<@49 %0.
?4:9
7:A4> 423 :1 ?30 09?=,7
%0.?4:9 B:9 ,9 @9;=0.0/09?0/
1:@=?3 .:9>0.@?4A0 ?0,8 ?4?70 ,9/
B:@9/ @; B4?3
?0,8
;:49?> =:>>?:B9 =4A,7 7:A4>
)0>? B,> , /4>?,9? >0.:9/ B4?3
;:49?>
& !' &"&
$$* +' " )+/
"& &'&
+"$+
$,9.3:
:?,?0L> -,>0-,77
?0,8 B,> @9,-70 ?: 20? 4?> :1
109>0 2:492 49 ,
9:9 70,2@0
7:>> ?: 4-0=?D :1 =09?B::/ :9
,=.3 49 $:390=? #,=6
(0)12./(%0 #../ )+1%6 .& 2(% 2( '0!$% 2 +)7!"%2( 1
"!1*%2"!++ 2%!, 2!*%1 2(% "!++
4-0=?D >.:=0/ ?3=00 ?480> 49
$.5-#.302 !'!)-12 2 .1% $30)-' 2(% #(!,/).-1()/ '!,% /+!6%$ !2 !50%-#% .-%1 )$$+%
?30 14=>? ?B4.0 49 ?30 >0.:9/ ,9/
#(..+ .- 3-$!6 2 .1% .& !-2! .1! $%&%!2%$ 2 +)7!"%2(
:9.0 49 -:?3 ?30 1:@=?3 ,9/ 141?3
!-% %+%2)
499492> ?: ;@77 ,B,D 1=:8 ?30
:@2,=>
$,9.3: :?,?0 9:B
2:?
4?> :97D =@9 49 ?30 -:??:8 :1 ?30
>0A09?3 !:,3 $:20=>:9 B,> ?30
7:>492 ;4?.30= 1:= ?30 :@2,=>
(:7@9?00= 49492 %4?0 07;0=> ,=0 @=209?7D .:1100 >0=A492 1::/ ,9/ .70,9 @;
:= ?30 :@2,=> :99:= 4? 900/0/ ,? ?30 $:390=? #,=6 %094:= 09?0= :9 :9
;;74.,9?> 8@>? -0 49 2::/ ;3D>4.,7 30,7?3 ,9/
?70?:9 ,D849 =,A08,9 @9 /,D> )0/90>/,D> ,9/ =4/,D> 1=:8
,8 H
,-70 ?: 741?
7->
90= 011:=/ ">.,= '=-49, ,77 ; 8
=00 -,.62=:@9/ .30.6 =0<@4=0/ := =024>?=,
B09? 1:= ,? ?30 ;7,?0
>>4>? B4?3 >:.4,74E,?4:9 >0??492 ?,-70> 8,6492 ?4:9 .:9?,.? 4.3070 0:9,=/ ,?
C
, ) )"- * +' +! !''(
)- )* &
& #
% " #!
& # " "
#
"
$
" "
"
!#
#
$!
!
& !
!&
%
# !
"
!
$
'
!
%&
$,
'!
%
D 477 ,9>:9
@>3=::8 1:=,D> ,=0 :9 ,1?0= ?30 =0.09?
=,49>
&B: >8,77 2=:@;> B0=0 ,? %,7? #:49?
%?,?0 #,=6 , 10B /,D> ,2: ,9/ .,80 3:80
B4?3 , 2,77:9 := >: -0?B009 ?304= -,>60?>
!0C? @; ,=0 ?30 %40==, %;=492 :70?0> 1:=
,9 :A0=9423? ?=4; ,8;492 4> 4/0,7 B309
D:@ .,9 B,60 @; 49 ?30 1407/ 3,A0 8:=9492
.:1100 ,9/ >9::; ,=:@9/ B4?3:@? /=4A492
&30 %40==, 492 :70?0 4> , -4? =0//0=
?3,9 ?30 7:B7,9/ A,=40?D B0 ,=0 @>0/ ?:
90,= ?30 .:,>? &30 ?,>?0 ,9/ 1=,2=,9.0 ,=0
,7>: >7423?7D /4110=09? -@? ?,C:9:8D 4> ?30
>,80 %;=492 4> ,7>: ?30 ?480 1:= 8:=07>
::6 1:= ?30 K9,?@=,7>L 2=:B492 90C? ?:
>8,77 >?=0,8> &30>0 ,=0 A0=D 3,=/ ?: >;:?
,> ?30D -709/ B4?3 ?30 2=:@9/ .:A0= ,9/ 1:
74,20 >: B077 D:@ .,9 -0 >?,9/492 :9 ?308
,9/ 9:? >00 ?30 ?=::; ,? D:@= 100?
::6 1:= 8:=07> 49 ?30 %40==, ?30 D0,=
,1?0= ?30 1:=0>? 4> >?=0>>0/G?3496 7:22492
1:=0>? 14=0 := ,?0=;477,= ?=,.6> 1 D:@ 1:=,D
49 , -@=9 E:90 ?=D ?: 2: B30=0 ?30=0 4> >?477
2=009 ,-:A0 7?3:@23 ?30D 2=:B 49 ?:?,7
-@=9 :@? ?30D >008 ?: 7460 ?30 ,78:>?
-@=90/ -0??0=
),> ?30=0 , 14=0 ,-:A0 +:>084?0 7,>?
D0,= :22492 49 ?30 9:=?30=9 %40==, 0
>@=0 ?: .30.6 B4?3 ?30 =,920= 49 ?30 1:=0>?
D:@ ;7,9 ?: 7::6 49 ,.3 /4>?=4.? .,9 -0
/4110=09? ,9/ =@70> 8,D 49.7@/0 , >;0.4,7
;0=84? ,9/ >:80 .7:>@=0> 0>;0.4,77D 49
-@=9 ,=0,> &30 1490> .,9 -0 0C;09>4A0 ,9/
?30D /: B=4?0 .4?,?4:9>
"& &
+
*% (
&
&+ )
"""
'
#
"& & ,
!
!
>9:@?> 9
849@?0> ?30D 7,4/ B,>?0 ?:
90,=7D ,9 ,.=0 ,9 ,>?:@9/492 ,8:@9? :1
/0A,>?,?4:9
+ !"& 0& ( +" *1
&4/0> ,=0 7:B ?: 849@> ?34> ?480 :1 D0,=
7?3:@23 4? 4> >;=492 , >;=492 ?4/0 4> 9:?
9,80/ 1:= ?30 ?480 :1 D0,= @970>> B0 3,A0
I90,;>J =@99492 ,=:@9/ ?: 8,?.3 ?30 90,;
?4/0>
:9>4/0= .7,8 /422492 :9 7,8 >7,9/
,&+"& ,( +
:9 , 849@> ?4/0 /,D 49 &:8,70> ,D ,77
"9 ?30 3@9?492 1=:9? 4? 4> ?480 ?: /4>.@>> ?30 1:76> ,? ,B>:9L> ,9/492 := 2: ?:
B30=0 D:@ ,=0 ;7,99492 ?: /00= 3@9? ?34>
?304= B0- >4?0 1:= .7,8 /422492 ,/A4.0
D0,= 0 >@=0 ?: -@D D:@= ?,2> -01:=0 ?30
&:8,70> 4> ,7>: , 2=0,? ;7,.0 ?: 14>3
/0,/7490 ,9/ 8,47 49 D:@= ,;;74.,?4:9 &30 3??; BBB 7,B>:9>7,9/492 .:8 "9 ?30
/=,B492 80,9> 20??492 , ;:49? ?:B,=/ 1:7
B0->4?0 D:@ B477 149/ 491:=8,?4:9 :9 .,8;
7:B492 D0,=> A09?@,77D D:@ B477 /=,B ?3,? 492 ,9/ :?30= ,.?4A4?40> 1:= D:@= 1,847D
K* E:90L ?,2 D:@LA0 /=0,80/ :1
&:8,70> ,D 4> , 2=0,? =0>:@=.0 :97D ?34=?D
)47/ -:,= 4> ,;;0,=492 49 3@20 9@8-0=> 849@?0> /=4A0 1=:8 3:80
:9 :@= .:,>?,7 =,920 "9 ?30 /=4A0 ?: 14>3
1:= %?00730,/ 49 @8-:7/? .:@9?0/ 8:=0
)++ !-1.- )1 ! .-.,! .3-26 -!2)4%
?3,9
;42> =::?492 @; , 1407/ ,9 0,>D >3:? !-$ ! +)&%+.-' 1/.021,!- % )1 2(% &.0,%0
1=:8 423B,D
;@770/ :A0= ,9/
/0%1)$%-2 .& 2(% .-.,! .3-26 6#.+.')
B,?.30/ ?308 1=:74. ,9/ ;@>3 0,.3 :?30=
#!+ 11.#)!2).- ..* &.0 ()1 #.+3,- )- (%
,=:@9/ ,> ?30D /@2 49 ?30 8@/ B4?3 ?304=
.,,3-)26 .)#% %!#( 5%%*
, $ & "" * $*-%
!
& )&$ "$ ! $
$ "# !
&"')
$,49> 80,9 8:=0 8@>3=::8 1:=,D>
(% /.021,!-81 %/.02
!
')
!
" $
'$
-++2,(15
-("$
$40. .$/ -%
-',$/1
/)
-1 1(
$,,&/-3$
/(# 5
/"'
-', $$#
*$+$,1 /5
&0&6"+ ,# 0%" ""(
#,.
. %
& +
)"4 +!".
"!
,*"6 &.
2 + &/+".,/
$ +
+$&"
,+0".,
&"$, ..",.01
%.&/0,-%".
+1"),/ ,") 1!/-"0% 1)
&2 / 1) ,0, 5 )
&+
1 ."6 . $,+
.&") ,+
6 )"6 *&. "$ ,+$,. +!
1 + ),+/,
, ".0 . +0
-,1$ (01
*$+$,1 /5
3,::(5+96 30=(
01!"+0 1&)!"./
#,.
. %
!& &" % )"'$
#' %
)"4 +!. &$,* ) / ") +&
/,+
& %"))"
) /
&+&"$.
&)5
& (".0,+
.&*" ,.& +, .."+, )"4
,.."/
)3 // 3& 1 /
"
&* /
%&.
)2
.&") .&00"+0,+ ,505 %
.&+
",+ .! "// "+.5
(5) . "+!.5 "5/%
..5
5)".
%&, ,1 (% *
( 5)
. 6&".
0"2"+
( +!".
!
)*,." +!
"$&+ " ,6 ,+6 )"6
, ".0 . +0
!
! & &"
"(
" '! &) "
" ! $& $
"
"
*#,1$/+$#( 1$
$""+
#(
)#(
$&
' ($
"$
"
"
"
"
+
$ &$
# ! $#
& # "
#
&0&6"+/ ,# 0%"
""( #,.
. %
+$")
. &
.16
.
,)&+!
. 1/0, ) +
. &
))"', ,/")&+ + %"6 %
*' ! 3 /*"% 1)5// ".
+ +!"6
0%)""+
,)! +
"2&+ +!".,/ &0) )5 ".
+ +!"6
"+!"6
&*"+
)"*"!
") +&" ,/ / +!
&6"00" . &
+" ")"0&
"
$"
!$
!
" !
% # ($
" !
$ !
$%
) & #
' ! ($$
"
"
&(
+' ( $"")# (+*$
! & # ($
&(
+ & ( # ' & %) ! '
&'( &
"$#(
$($' # " !' ")'( &
*
$
+' %& $& ($ & + %) ! ( $#
!
!
"
!
"
"
$"
+
(0"(.*(,$ (0 1'$ 1/(") 1- &--# #-& 1/ (,(,&
@
0*2,@ ',3+,:
9,*,5;3@ /,(9+ ;/, *644,5; ;/(; 46:; 7,673, >6<3+ 9(;/,9 .6
;6 ;/, +,5;0:; ;/(5 .6 ;6 ( +6. ;9(0505. *3(:: ",(33@ %/(; ( :(+
:;(;,4,5; $/,5 :;(9;,+ ;/05205. )(*2 ;6 (33 ;/, ;9(0505. *3(::,:
/(=, ),,5 ;6 (5+ 9,(33@B0- F4 /65,:;B(3;/6<./ 302,+ ;/,4
;/,@ >,9,5F; 9,(33@ (33 ;/(; -<5
%, >6<3+ 7<; ( */62, */(05 @6< *(5 :,, /6> -(9 )(*2 F4
.605. 65 6<9 +6.: (5+ 4(9*/ (96<5+ 05 ( *09*3, (5+ 4(2, ;/,
+6.: :0; (5+ ;/,5 4(9*/ ;/, 6;/,9 >(@ (5+ 4(2, ;/, +6.: 3(@
+6>5 %, >6<3+ +6 ;/0: -69 ( /(3- /6<9 >0;/ ( -,> 9,*(33: (; ;/,
,5+ (5+ ;/,5 >, >6<3+ .6 /64, <9 (::0.54,5; >(: ;6 79(*;0*,
( " !
(
! # ( $
&" " # "# (
&
%
( %
$#
!" "
!
&
"
!
$"
!"
(
(" (
#
!$
! $ &# # !
"
& $ !
(
&#
#
(
& $
"#
&#
! "
$ #"
;/(; -69 ( /(3- /6<9 ,(*/ +(@ 6 >65+,9 )6;/ ;/, 7,673, (5+ ;/,
+6.: >,9, )69,+ %69:, 7(9; 6- 0; >(: ;/(; 0; /(+ 56 ),(905. 65 ;/,
6;/,9
/6<9: 6- ;/, +(@
$9@ ;/(; >0;/ */03+9,5 , ( :,=,9, +0:*07305(90(5 (5+ +,4(5+
;6;(3 6),+0,5*, -69 ( /(3- /6<9 ( +(@ )<; ;/,5 3,(=, ;/, 20+: 65
;/,09 6>5 ;/, 9,:; 6- ;/, +(@ 6 65, 9,8<0905. ;/,4 ;6 /(=, (5@
4(55,9: -6336> (5@ 9<3,: 69 ;6 ),/(=, 05 .,5,9(3 %/(; 4,::,+
<7 20+: >, >6<3+ (33 /(=, &6< *(5F; +6 ;/(; >0;/ +6.: ,0;/,9
$/, :,*9,; ;6 ,--,*;0=, ;9(0505. 0: ;6 56; 256> >/,5 0; 0: /(7
7,505. ; 0: 56; ( ;/05. @6< +6 65*, ( +(@ 0; 0: @6<9 +(@ 964 ;/,
464,5; @6< .,; <7 <5;03 ;/, 464,5; @6< .6 ;6 :3,,7 @6< (9,
;9(0505. @6<9 +6. (5+ */03+9,5 $/,@ /(=, ;6 /(=, 4(55,9: >/,5
;/,@ ,(; (:2 -69 ( :0; -09:; (5+ >(0; <5;03 @6< :(@ ;/,@ *(5 ,(;
;/,@ /(=, ;6 :0; (; ;/, +669 ),-69, ),05. (336>,+ 6<;:0+, ;/,@
4<:; >(32 *(343@ (5+ >0;/6<; 7<3305. >/03, 65 ;/,09 >(32: (5+ :6
"%& # &%
&" & )
65 ;/96<./6<; ;/, +(@
&6< :307 05 ( *644(5+ +,4(5+ ;/,09 (;;,5;065 9,-<:, ;6 .0=, 05
;6 ;/,09 5<+.05. .0=, ;/,4 ;9,(;: (5+ ;(2, ;/,4 (>(@ 65 @6<9
;,94: C 56; ),*(<:, ;/,@ >,9, ),..05. 69 ),05. (556@05. $/0: 0:
;/,
56;/05. 05 30-, 0: -9,, :*/663 6- ;9(0505. (5+ 0; +0:
*9,;,3@ *,4,5;: ;/, -(*; ;/(; @6< (9, 05 */(9., C 05 @6<9 +6.F:
405+ =,9@ 04769;(5; *65*,7; 05 ;/, >693+ 6- +6.: 33 >0;/6<; (
:05.3, (37/( 9633 ;(2, ;/(; ,:(9 033(5
$/(;F: 56; ;6 :(@ ;/(; @6< +65F; .6 ;6 ;9(0505. *3(::,: ;66 $/,9,
+,-050;,3@ 0: ( ),5,-0; ;6 >69205. >0;/ ( ;9(05,9 05 ( :;9<*;<9,+ :,;
;05. $/0: 0: @6<9 67769;<50;@ ;6 D7966-E @6<9 +6. >0;/ 36;: 6- +0:
;9(*;065: (96<5+ %, /,(9 (33 ;/, ;04, 05 *3(::,: D/, +6,: 0;
7,9-,*;3@ (; /64, E - *6<9:, ;/,9, 0: 56;/05. *647,;05. -69 /0:
(;;,5;065 (5+ /, 256>: 0;F: ;9(0505. ;04, $9@ 0; 6<; 05 ;/, 9,(3
>693+ ;/6<./ (5+ /,F: ( *6473,;,3@ +0--,9,5; (504(3 &6< >(5; (
+6. ;/(;F: >,33 ;9(05,+ (5+ ( 73,(:<9, ;6 ;(2, 6<; 05 7<)30* $/,5
@6< /(=, ;6 ;9(05 ;/,4 05 7<)30* 73(*,: >0;/ 9,(3 +0:;9(*;065:
3(::,: (9, ),*6405. 469, -<5 >0;/ 5,> >(@: 6- ;,(*/05. ;/,
:2033: >, (33 5,,+ (5+ 65*, @6< /(=, ;/, )(:0*: +6>5 ;/,9,F: (33
205+: 6- ,?*0;05. *3(::,: (=(03()3, $9@ ( 5,> +6. :769; 302, -3@
)(33 -69 ;/, ;,550: )(33 -(5(;0* 69 56:, >692 -69 ;/6:, >0;/ ( .66+
:50--,9 69 (.030;@ 69 +6..@ +(5*05. 69 9(33@ 69 (5@ 6- ;/, 6;/,9
*3(::,: (=(03()3, 36*(33@ (5+ :,, /6> ,?*0;,+ @6<9 +6. *(5 .,;
()6<; .605. ;6 :*/663 ; *6<3+ +6 ;/, ;>6 6- @6< ( >693+ 6- .66+
."-+(,& $3$,10
# '()" $ (
%
#
( ""
$# " " "& # "
%
&
& ! "
#(
"#
# !
& $
#
# #
" "
## #
'( & $
&#
#
!
"
$ $
$# $
'( & $
&
%
"#
#
(
%
#
%
!
## !
( $)
'
"
#
% !( !
(
" )#
# $ "
" $! (
!
"
"#
!#
"
$# "
% " # !$ ! $
$
!
+
*# *
+ $" %% "!
+ $ !!
"
$
(
" ! $& $
"
$#
A 6 69, 6:; !,;: (47(0.5 =,9@ 36:; 7,; :/6<3+ /(=, (
>(@ ;6 .,; )(*2 /64, 9,, 7,;
;(. (5+ ( )(*2 <7 40*96*/07 0:
(=(03()3, ;6 (33 9,:0+,5;: 6- "6/5,9; !(92 (5+ 6;(;0 6 (77605;
4,5; 5,*,::(9@ 1<:; *64, )@ ;/, :/,3;,9 +<905. 6<9 9,.<3(9 67,5
/6<9: %,+5,:+(@
7 4 $/<9:+(@ 90+(@ (5+ #(;<9+(@
7 4 (5+ #<5
74
"%
$
& ("5 ")!"/ &/ 0%" /1-".2&/,. 0 0%" ,%+".0 .( +&* )
%")0". %" + " ,+0 0"! 0 *6")!"/ .- &05 ,.$
-&0
#
"
10 ,# -1'$/ 0+ ** ,(+ *0
(
#
& $
))) $# !
% & $ "$
" $% ! "
)""
$(
'$% $
&
'!
$"" !
!&
"#
#%
$
! #
" ! $&
+ # & " $ !
+
! % '$
+ ( )
#
64,:;0* :/69;/(09
(0(1 -2/
32 %/;
9(5.,$())@
64,:;0* 4,+0<4/(09
$! 0(1$ 1 444
"6/5,9; !(92 504(3 #/,3;,9
$#
. + 6 '2/
1
A 0? 0; *3050*: 9,, *(; :7(@: 5,<;,9: (5+ 36> *6:; +6. :<9.,9
0,: -69 36> 05*64, 9,:0+,5;: 6- "6/5,9; !(92 (5+ 6;(;0 (33
-69 469, 05-694(;065 69 (5 (77605;4,5;
(3,
(3,
&6<5. +<3;
+<3;
-01 -/ -2,# $1
# 4(1' .'-1-
64,:;0* 65./(09
,(+ * '$*1$/ -/&
"6.,9: (5, "6/5,9; !(92
. + 6 2,
.+
**
%
"
* . &/'
* . &/'
"#( ()(
$
! !
#
" !%
!
&# ( - &
' ,#(
31))
,
'
.,#'
(." )''/(#.3 0)#
&# ( - &
(CH=79 =G <9F96M ;=J9B H<5H 5 DI6@=7 @=9B
G5@9 C: H<9 :C@@CK=B; 89G7F=69G D9FGCB5@
DFCD9FHM K=@@ 69 <9@8 5H &C7? #H /D -HCF
=FK5M F=J9 -5BH5 ,CG5
5;9
'5F7< H<
5H
5A .<9
=H9AG HC 69 GC@8 5F9 ;9B9F5@@M
89G7F=698 5G :C@@CKG
,C69FH J5BG =?9 .CC@ CL -DCFHG
EI=D
,58=C @CH<=B; 5B
-<5BBCB "5FHNC .CMG -<9@J9G DD@=
5B79G @CH<=B; 15G<9F FM9F
-<5BBCB "5FHNC .CMG &CJ9 -95H
@CH<=B; C@@97H56@9G .CC@ CL
(C9 $57C6C .CMG .CC@ CL
-DCFHG "C66M EI=D =B=B; .56@9 <5=FG
'=7FCK5J9 .9@9J=G=CB @CH<=B;
'5HHF9GG CL -DF=B;
%9J=B ' 5GCB !5F89B &5KB EI=D
*CK9F .CC@G @CH<=B;
$C5B -<9DD5F8 -<9@J9G -HCF9 =G
D@5MG )::=79 -IDD@=9G IHC *5FHG
*5FHG CC?G
$C5B -<9DD5F8 -<9@J9G IHC *5FHG
*5FHG CC?G CBGHFI7H=CB EI=D
$C5B -<9DD5F8 -<9@J9G -HCF9 =G
D@5MG )::=79 -IDD@=9G IHC *5FHG *5FHG
CC?G .CC@G =@9 56=B9HG 9G? <5=FG
$C5B -<9DD5F8 -<9@J9G -HCF9 =G
D@5MG )::=79 -IDD@=9G IHC *5FHG *5FHG
CC?G &5889FG .CC@G =@9 56=B9HG
-DCFHG EI=D BH9FH5=B 9BH9F
C@@97H56@9G
.<=G BCH=79 =G ;=J9B =B 577CF85B79 K=H<
H<9 DFCJ=G=CBG C: -97H=CB
9H G9E C:
H<9 IG=B9GG *FC:9GG=CBG C89 C: H<9
-H5H9 C: 5@=:CFB=5 (CF 5@ -HCF5;9
I7H=CBG #B7 CB8
*I6@=G<98 '5F7<
.<9 CAAIB=HM 0C=79
&=9B -5@9
(CH=79 =G <9F96M ;=J9B H<5H 5 DI6@=7 @=9B
G5@9 C: H<9 :C@@CK=B; 89G7F=69G D9FGCB5@
DFCD9FHM K=@@ 69 <9@8 5H
"CIG9F -H
,98KCC8 -9@: -HCF5;9
CH5H=
CB '5F H<
DA
.<9 =H9AG HC 69 GC@8 5F9 ;9B9F5@@M
89G7F=698 5G :C@@CKG
%IFH CGH5 P .CC@6CL .CC@G 5F D5FHG
'=7<9@@9 &IB5 P .CMG -DCFHG EI=D
6CL9G
&CJ9 -95H @CH<=B; -HCC@
-H9J9 =;CB9 IHC D5FHG &5KB EI=D
*CK9F .CC@G C@@97H56@9G -C:5 CC?
5G9 =@9 56=B9H
6CL9G
65;G
-H9J9 =;CB9 (9CB -=;B -I=H75G9G
C@@97H56@9G DD@=5B79G 057IIA
,C69FH5 &MBB J5BG (9KGCA9 .CMG
6CL9G
&5AD )::=79 -IDD@=9G
&MB85 BB 'C F;5B P .CMG C@@97H56@9G
DD@=5B79G "IH7< F9GG9F 057IIA
*=7HIF9G CC8 -9FJ=79 EI=D
6CL9G
9BB=G 5F@5 %9BH IHC D5FHG .CMG
C@@97H56@9G
0 G BH9FH5=BA9BH
HF IHCB F9GG9F <5=F
6CL9G
%5F9B 5H7<9@CF P =@9 756=B9H
6CL9G
.<=G BCH=79 =G ;=J9B =B 577CF85B79 K=H< H<9
9H G9E C: H<9
DFCJ=G=CBG C: -97H=CB
IG=B9GG *FC:9GG=CBG C89 C: H<9 -H5H9
C: 5@=:CFB=5 (CF 5@ -HCF5;9 I7H=CBG #B7
CB8
*I6 '5F
.<9 CAAIB=HM 0C=79
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G =G 5F9 8C=B; 6IG=
B9GG 5G "IBH9F 9G=;B -9FJ=79G
'=@@
-H5H=CB ,8 -965GHCDC@
'=@@ -H5H=CB
$5A9G "IBH9F DD@96M
,8 -965GHCDC@
.<=G 6IG=B9GG =G 7CB8I7H98 6M 5B #B8=J=8
I5@ .<9 F9;=GHF5BH G 7CAA9B798 HC HF5BG
57H 6IG=B9GG IB89F H<9 :=7H=H=CIG 6IG=B9GG
B5A9 CF B5A9G @=GH98 56CJ9 CB
# 897@5F9 H<5H 5@@ =B:CFA5H=CB =B H<=G GH5H9
F9;=GHF5BH K<C
A9BH =G HFI9 5B8 7CFF97H
897@5F9G 5G HFI9 =B:CFA5H=CB K<=7< <9 CF
G<9 ?BCKG HC 69 :5@G9 =G ;I=@HM C: 5 7F=A9
- $5A9G "IBH9F DD@96M
.<=G GH5H9A9BH K5G :=@98 K=H< H<9 CIBHM
@9F? C: -CBCA5 CIBHM CB
().# .<=G =7H=H=CIG (5A9 -H5H9A9BH 9L
D=F9G :=J9 M95FG :FCA H<9 85H9 =H K5G :=@98 =B
H<9 C::=79 C: H<9 CIBHM @9F? (9K =7H=
H=CIG IG=B9GG (5A9 -H5H9A9BH AIGH 69
:=@98 69:CF9 H<5H H=A9
.<9 :=@=B; C: H<=G GH5H9A9BH 8C9G BCH C: =HG9@:
5IH<CF=N9 H<9 IG9 =B H<=G GH5H9 C: 5 =7H=H=CIG
IG=B9GG (5A9 =B J=C@5H=CB C: H<9 F=;<HG C:
5BCH<9F IB89F 989F5@ -H5H9 CF 7CAACB
9H G9E IG=B9GG
@5K -99 -97H=CB
5B8 *FC:9GG=CBG C89
)F=;=B5@ =@=B;
(." )''/(#.3 0)#
!#
!
!
!
!
%
!!
.<9 :C@@CK=B; D9FGCB G =G 5F9 8C=B; 6IG=
B9GG 5G ')(. #.) 0 . ,#( ,3 (
. ,
-CBCA5 "=;<K5M -5BH5 ,CG5
CIBHM C: -)()' '5=@=B; 58
8F9GG =: 8=::9F9BH
,9BB9@@ F=J9 -I=H9
-CIH<DCFH .
,9;=GH9F98 CKB9F G
,
(. ,&# ),(#
* .0 .
,9BB9@@ F=J9 -I=H9 -CIH<DCFH
#(
.
#: CFDCF5H=CB CF && *F=BH -H5H9
C: #B7CFDCF5H=CB )F;5B=N5H=CB 9@9K5F9
.<=G 6IG=B9GG =G 7CB8I7H98 6M
),*)
, .#)(
.<9 F9;=GHF5BH 7CAA9B798 HC HF5BG57H 6IG=
B9GG IB89F H<9 :=7H=H=CIG 6IG=B9GG B5A9 CF
B5A9G @=GH98 56CJ9 CB
# 897@5F9 H<5H 5@@ =B:CFA5H=CB =B H<=G GH5H9
A9BH =G HFI9 5B8 7CFF97H
F9;=GHF5BH K<C
897@5F9G 5G HFI9 =B:CFA5H=CB K<=7< <9 CF
G<9 ?BCKG HC 69 :5@G9 =G ;I=@HM C: 5 7F=A9
"#)
- !#() 0)&*
.<=G GH5H9A9BH K5G :=@98 K=H< H<9 CIBHM
@9F? C: -CBCA5 CB
().# #B 577CF85B79 K=H< -97H=CB
5 5 =7H=H=CIG (5A9 -H5H9A9BH ;9B
9F5@@M 9LD=F9G :=J9 M95FG :FCA H<9 85H9 =H K5G
:=@98 K=H< H<9 CIBHM @9F? 9L79DH 5G DFC
J=898 =B -97H=CB
6 K<9F9 =H 9LD=F9G
85MG 5:H9F 5BM 7<5B;9 =B H<9 :57HG G9H
:CFH< =B H<9 GH5H9A9BH DIFGI5BH HC G97H=CB
CH<9F H<5B 5 7<5B;9 =B H<9 F9G=89B79
588F9GG C: 5 F9;=GH9F98 CKB9F (9K =7H=
H=CIG IG=B9GG (5A9 -H5H9A9BH AIGH 69
:=@98 69:CF9 H<9 9LD=F5H=CB
.<9 :=@=B; C: H<=G GH5H9A9BH 8C9G BCH C: =HG9@:
5IH<CF=N9 H<9 IG9 =B H<=G GH5H9 C: 5 =7H=H=CIG
IG=B9GG (5A9 =B J=C@5H=CB C: H<9 F=;<HG C:
5BCH<9F IB89F 989F5@ -H5H9 CF 7CAACB
9H G9E IG=B9GG
@5K -99 -97H=CB
5B8 *FC:9GG=CBG C89
)F=;=B5@
(." )''/(#.3 0)#
!
!
!!
"
(
!
! !
!
!
!" $
!
.- (C
.) (C
.# ().# )
- - & 3)/ , #(
/&. /( ,
) .,/-. . (CJ9A69F
/(& -- 3)/ . %
.#)( .) *,). . 3)/, *,)* ,.3 #. ' 3
-)&
. */ &# - & # 3)/ (
( 2*& ( .#)( ) ." ( ./, ) ." *,)
#(!- ! #(-. 3)/ 3)/ -")/& )(. . & 13 , )B '5F7<
5H
' 5H H<9 9B8 C: H<9 (CFH< D5F?=B; @CH HIFB56CIH C: H<9 =HM C: *9H5@IA5 CAAIB=HM
9BH9F =B &I77<9G= *5F?
( '7 CK9@@ @J8 *9H5@IA5
'. =B5B7=5@ #B7
865 .FIGH99 CFDG 5G H<9 8I@M DDC=BH98 .FIGH99 IB89F 5B8 DIFGI5BH HC H<9 DCK9F C:
5G #BGHFI
G5@9 7CBH5=B98 =B H<5H 79FH5=B 998 C: .FIGH ,97CF898 CB (CJ9A69F
A9BH (C
C: C::=7=5@ F97CF8G =B H<9 )::=79 C: H<9 ,97CF89F C: -CBCA5 CIBHM
5@=:CFB=5 9L97IH98 6M (")( +/ (! ., ( ( ./3 . ."# & ' ., ( "/- ( (
- $ . 5G .FIGHCF G =B :5JCF C: (% ) ' ,#
( 5G 9B9:=7=5FM 1#&&
1#
, =B @5K:I@ ACB9M C: H<9 /B=H98
- && . */ &# / .#)( .) ." "#!" -. #
-H5H9G 5@@ D5M56@9 5H H<9 H=A9 C: G5@9 H<5H 79FH5=B DFCD9FHM G=HI5H98 =B G5=8 CIBHM 5@=
:CFB=5 89G7F=6=B; H<9 @5B8 H<9F9=B 5G - '), /&&3 - ,#
#( - #
)
.,/-. .<9 DFCD9FHM <9F9HC:CF9 89G7F=698 =G 69=B; GC@8 Q5G =GR .<9 GHF99H 588F9GG 5B8
CH<9F 7CAACB 89G=;B5H=CB =: 5BM C: H<9 F95@ DFCD9FHM 89G7F=698 56CJ9 =G DIFDCFH98 HC
69
, ( #- #, & ,)"( ,. * ,% %
). .#
.<9 IB89FG=;B98
.FIGH99 8=G7@5=AG 5BM @=56=@=HM :CF 5BM =B7CFF97HB9GG C: H<9 GHF99H 588F9GG 5B8 CH<9F 7CA
ACB 89G=;B5H=CB =: 5BM G<CKB <9F9=B -5=8 G5@9 K=@@ 69 A589 K=H<CIH 7CJ9B5BH CF K5F
F5BHM 9LDF9GG CF =AD@=98 F9;5F8=B; H=H@9 DCGG9GG=CB CF 9B7IA6F5B79G HC D5M H<9
F9A5=B=B; DF=B7=D5@ GIA C: H<9 (CH9 G G97IF98 6M G5=8 998 C: .FIGH K=H< =BH9F9GH
H<9F9CB 5G DFCJ=898 =B G5=8 (CH9 G 58J5B79G =: 5BM IB89F H<9 H9FAG C: H<9 998 C:
.FIGH 9GH=A5H98 :99G 7<5F;9G 5B8 9LD9BG9G C: H<9 .FIGH99 5B8 C: H<9 HFIGHG 7F95H98 6M
G5=8 998 C: .FIGH .<9 HCH5@ 5ACIBH C: H<9 IBD5=8 65@5B79 C: H<9 C6@=;5H=CBG G97IF98
6M H<9 DFCD9FHM HC 69 GC@8 5B8 F95GCB56@9 9GH=A5H98 7CGHG 9LD9BG9G 5B8 58J5B79G 5H
H<9 H=A9 C: H<9 =B=H=5@ DI6@=75H=CB C: H<=G (CH=79 C: .FIGH99SG -5@9 =G 9GH=A5H98 HC 69
GH=A5H98 "CK9J9F DF9D5MA9BH DF9A=IAG 577FI98 =BH9F9GH 5B8 58J5B79G
K=@@ =B7F95G9 H<=G :=;IF9 DF=CF HC G5@9 9B9:=7=5FMSG 6=8 5H G5=8 G5@9 A5M =B7@I89 5@@ CF
D5FH C: G5=8 5ACIBH #B 588=H=CB HC 75G< H<9 .FIGH99 K=@@ 5779DH 5 75G<=9FSG 7<97? 8F5KB
CB 5 GH5H9 CF B5H=CB5@ 65B? 5 7<97? 8F5KB 6M 5 GH5H9 CF :989F5@ 7F98=H IB=CB CF 5 7<97?
8F5KB 6M 5 GH5H9 CF :989F5@ G5J=B;G 5B8 @C5B 5GGC7=5H=CB G5J=B;G 5GGC7=5H=CB CF G5J=B;G
65B? GD97=:=98 =B -97H=CB
C: H<9 5@=:CFB=5 =B5B7=5@ C89 5B8 5IH<CF=N98 HC 8C 6IG=
B9GG =B 5@=:CFB=5 CF CH<9F GI7< :IB8G 5G A5M 69 5779DH56@9 HC H<9 .FIGH99 #B H<9 9J9BH
H9B89F CH<9F H<5B 75G< =G 5779DH98 H<9 .FIGH99 A5M K=H<<C@8 H<9 =GGI5B79 C: H<9
.FIGH99SG 998 /DCB -5@9 IBH=@ :IB8G 697CA9 5J5=@56@9 HC H<9 D5M99 CF 9B8CFG99 5G 5
A5HH9F C: F=;<H .<9 DFCD9FHM C::9F98 :CF G5@9 9L7@I89G 5@@ :IB8G <9@8 CB 577CIBH 6M H<9
DFCD9FHM F979=J9F =: 5DD@=756@9 #: H<9 .FIGH99 =G IB56@9 HC 7CBJ9M H=H@9 :CF 5BM F95GCB
H<9 GI779GG:I@ 6=889FSG GC@9 5B8 9L7@IG=J9 F9A98M G<5@@ 69 H<9 F9HIFB C: ACB=9G D5=8 HC
H<9 .FIGH99 5B8 H<9 GI779GG:I@ 6=889F G<5@@ <5J9 BC :IFH<9F F97CIFG9 (CH=79 HC *CH9BH=5@
=889FG #: MCI 5F9 7CBG=89F=B; 6=88=B; CB H<=G DFCD9FHM @=9B MCI G<CI@8 IB89FGH5B8 H<5H
H<9F9 5F9 F=G?G =BJC@J98 =B 6=88=B; 5H 5 .FIGH99 5I7H=CB 3CI K=@@ 69 6=88=B; CB 5 @=9B BCH
CB H<9 DFCD9FHM =HG9@: *@57=B; H<9 <=;<9GH 6=8 5H 5 .FIGH99 5I7H=CB 8C9G BCH 5IHCA5H=75@@M
9BH=H@9 MCI HC :F99 5B8 7@95F CKB9FG<=D C: H<9 DFCD9FHM 3CI G<CI@8 5@GC 69 5K5F9 H<5H H<9
@=9B 69=B; 5I7H=CB98 C:: A5M 69 5 >IB=CF @=9B #: MCI 5F9 H<9 <=;<9GH 6=889F 5H H<9 5I7H=CB
MCI 5F9 CF A5M 69 F9GDCBG=6@9 :CF D5M=B; C:: 5@@ @=9BG G9B=CF HC H<9 @=9B 69=B; 5I7H=CB98
C:: 69:CF9 MCI 75B F979=J9 7@95F H=H@9 HC H<9 DFCD9FHM 3CI 5F9 9B7CIF5;98 HC =BJ9GH=;5H9
H<9 9L=GH9B79 DF=CF=HM 5B8 G=N9 C: CIHGH5B8=B; @=9BG H<5H A5M 9L=GH CB H<=G DFCD9FHM 6M
7CBH57H=B; H<9 7CIBHM F97CF89F G C::=79 CF 5 H=H@9 =BGIF5B79 7CAD5BM 9=H<9F C: K<=7< A5M
7<5F;9 MCI 5 :99 :CF H<=G =B:CFA5H=CB #: MCI 7CBGI@H 9=H<9F C: H<9G9 F9GCIF79G MCI G<CI@8
69 5K5F9 H<5H H<9 G5A9 &9B89F A5M <C@8 ACF9 H<5B CB9 ACFH;5;9 CF 998 C: .FIGH CB
H<9 DFCD9FHM (CH=79 HC *FCD9FHM )KB9F .<9 G5@9 85H9 G<CKB CB H<=G (CH=79 C: -5@9 A5M
69 DCGHDCB98 CB9 CF ACF9 H=A9G 6M H<9 'CFH;5;99 9B9:=7=5FM .FIGH99 CF 5 7CIFH DIF
GI5BH HC -97H=CB
; C: H<9 5@=:CFB=5 =J=@ C89 .<9 @5K F9EI=F9G H<5H =B:CFA5H=CB
56CIH .FIGH99 -5@9 DCGHDCB9A9BHG 69 A589 5J5=@56@9 HC MCI 5B8 HC H<9 DI6@=7 5G 5 7CIF
H9GM HC H<CG9 BCH DF9G9BH 5H H<9 G5@9 #: MCI K=G< HC @95FB K<9H<9F MCIF G5@9 85H9 <5G
699B DCGHDCB98 5B8 =: 5DD@=756@9 H<9 F9G7<98I@98 H=A9 5B8 85H9 :CF H<9 G5@9 C: H<=G
DFCD9FHM MCI A5M 75@@ *F=CF=HM *CGH=B; 5B8 *I6@=G<=B; 5H
:CF =B:CFA5H=CB
F9;5F8=B; H<9 .FIGH99 G -5@9 CF J=G=H H<9 #BH9FB9H 196 G=H9 588F9GG @=GH98 69@CK :CF =B:CF
A5H=CB F9;5F8=B; H<9 G5@9 C: H<=G DFCD9FHM IG=B; H<9 :=@9 BIA69F 5GG=;B98 HC H<=G 75G9
#B:CFA5H=CB 56CIH DCGHDCB9A9BHG H<5H 5F9 J9FM G<CFH =B 8IF5H=CB CF
H<5H C77IF 7@CG9 =B H=A9 HC H<9 G7<98I@98 G5@9 A5M BCH =AA98=5H9@M 69 F9:@97H98 =B H<9
H9@9D<CB9 =B:CFA5H=CB CF CB H<9 #BH9FB9H 196 G=H9 .<9 69GH K5M HC J9F=:M DCGHDCB9A9BH
=B:CFA5H=CB =G HC 5HH9B8 H<9 G7<98I@98 G5@9 5H9 96FI5FM
'. =B5B7=5@ #B7
865 .FIGH99 CFDG .- (C
!=@@9HH9 J9 #FJ=B9
&ID9 .56=H5 IH<CF=N98 -=;B5HCFM - & #( ),' .#)( (
) . #( )(
&#( . KKK DF=CF=HMDCGH=B; 7CA ), /.)' . - & - #( ),' .#)( *& && *F=CF=HM *CGH=B; 5B8 *I6@=G<=B; 5H
'. =B5B7=5@ #B7 865 .FIGH99
CFDG ' 3
.#(! . )&& .), .. '*.#(! .) )&& .
.
(3 #( ),' .#)( ) . #( ' 3
/), ." . */,*)- *
**
*I6
.<9 CAAIB=HM 0C=79
, .) -")1 /- ),
" (! ) ( '
5G9 (IA69F
.C 5@@ =BH9F9GH98 D9FGCBG *9H=H=CB9F
!9CF;9 3=N<I 4<5C :=@98 5 D9H=H=CB K=H< H<=G
7CIFH :CF 5 897F99 7<5B;=B; B5A9G 5G :C@
@CKG !9CF;9 3=N<I 4<5C HC !9CF;9 4<5C
." )/,. ), ,- H<5H 5@@ D9FGCBG =B
H9F9GH98 =B H<=G A5HH9F G<5@@ 5DD95F 69:CF9
H<=G 7CIFH 5H H<9 <95F=B; =B8=75H98 69@CK HC
G<CK 75IG9 =: 5BM K<M H<9 D9H=H=CB :CF
7<5B;9 C: B5A9 G<CI@8 BCH 69 ;F5BH98
(CH=79 C: "95F=B; DF=@
5H
5 A 9DH
-CBCA5 CIBHM -ID9F=CF
CIFH
@9J9@5B8 J9 -5BH5 ,CG5
.<=G 6IG=B9GG =G 7CB8I7H98 6M 5B #B8=J=8
I5@ .<9 F9;=GHF5BH G 7CAA9B798 HC HF5BG
57H 6IG=B9GG IB89F H<9 :=7H=H=CIG 6IG=B9GG
B5A9 CF B5A9G @=GH98 56CJ9 CB
# 897@5F9 H<5H 5@@ =B:CFA5H=CB =B H<=G GH5H9
F9;=GHF5BH K<C
A9BH =G HFI9 5B8 7CFF97H
897@5F9G 5G HFI9 =B:CFA5H=CB K<=7< <9 CF
G<9 ?BCKG HC 69 :5@G9 =G ;I=@HM C: 5 7F=A9
- .98;5F
.<=G GH5H9A9BH K5G :=@98 K=H< H<9 CIBHM
@9F? C: -CBCA5 CIBHM CB
().# .<=G =7H=H=CIG (5A9 -H5H9A9BH 9L
D=F9G :=J9 M95FG :FCA H<9 85H9 =H K5G :=@98 =B
H<9 C::=79 C: H<9 CIBHM @9F? (9K =7H=
H=CIG IG=B9GG (5A9 -H5H9A9BH AIGH 69
:=@98 69:CF9 H<5H H=A9
.<9 :=@=B; C: H<=G GH5H9A9BH 8C9G BCH C: =HG9@:
5IH<CF=N9 H<9 IG9 =B H<=G GH5H9 C: 5 =7H=H=CIG
IG=B9GG (5A9 =B J=C@5H=CB C: H<9 F=;<HG C:
5BCH<9F IB89F 989F5@ -H5H9 CF 7CAACB
9H G9E IG=B9GG
@5K -99 -97H=CB
5B8 *FC:9GG=CBG C89
=@=B; K=H< <5B;9G
*F9J=CIG :=@9 BIA69F
7CDM C: H<=G )F89F HC -<CK 5IG9 G<5@@
69 DI6@=G<98 CB79 5 K99? :CF :CIF GI779G
G=J9 K99?G DF=CF HC H<9 85H9 G9H :CF <95F=B;
CB H<9 D9H=H=CB =B H<9 :C@@CK=B; B9KGD5D9F
C: ;9B9F5@ 7=F7I@5H=CB DF=BH98 =B H<=G
7CIBHM .<9 CAAIB=HM 0C=79 * ) CL
,C<B9FH *5F?
5H98 96FI5FM
G (5B7M -<5::9F $I8;9 C: H<9 -ID9F=CF
CIFH
*I6 96FI5FM
'5F7<
.<9 CAAIB=HM 0C=79
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
5G ,CM *FC79GG -9FJ9F C
9J9F@M
F DH
,C<B9FH *5F?
-CBCA5 CIBHM '5=@=B; 88F9GG G5A9
,9;=GH9F98 )KB9F G I;IGH=B9 (K56I9N9
.<=G 6IG=B9GG =G 7CB8I7H98 6M 5B #B8=J=8
I5@ .<9 F9;=GHF5BH 7CAA9B798 HC HF5BG57H
6IG=B9GG IB89F H<9 :=7H=H=CIG B5A9 CF
B5A9G 56CJ9 CB B 5 -=;B5HIF9 I;IGH=B9
(K56I9N9 )KB9F .<=G GH5H9A9BH K5G :=@98
K=H< CIBHM @9F? C: -CBCA5 CIBHM CB
96FI5FM
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
M G ' $I8=H< -9J=@@5 !5F7=5
9DIHM -95@
*I6 96FI5FM
'5F7<
.<9 CAAIB=HM 0C=79
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
5G 5GH 19GH IG=CB 09H9F=B5FM -9FJ=79G
!C@: CIFG9 F DH
,C<B9FH *5F?
-CBCA5 CIBHM '5=@=B; 588F9G
G5A9 ,9;=GH9F98 )KB9F G #@G= '9895F=G
.<=G 6IG=B9GG =G 7CB8I7H98 6M 5B #B8=J=8
I5@ .<9 F9;=GHF5BH 7CAA9B798 HC HF5BG57H
6IG=B9GG IB89F H<9 :=7H=H=CIG B5A9 CF
B5A9G 56CJ9 CB (
-=;B5HIF9 #@G=
'9895F=G 0' .<=G GH5H9A9BH K5G :=@98
K=H< CIBHM @9F? C: -CBCA5 CIBHM CB
96FI5FM
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
M G 5FF9@@ &=;<H
9DIHM -95@
*I6 96FI5FM
'5F7<
.<9 CAAIB=HM 0C=79
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
5G F95H=J9 0=GI5@G #BH9F=CF 9G=;B
F9GHACBH F -5BH5 ,CG5
-CBCA5 CIBHM '5=@=B; 88F9GG G5A9
,9;=GH9F98 )KB9F G -IG5BB9 -5FA=F .<=G
6IG=B9GG =G 7CB8I7H98 6M 5B #B8=J=8I5@
.<9 F9;=GHF5BH 7CAA9B798 HC HF5BG57H 6IG=
B9GG IB89F H<9 :=7H=H=CIG B5A9 CF B5A9G
56CJ9 CB
-=;B5HIF9 -IG5BB9 -5FA=F
)KB9F .<=G GH5H9A9BH K5G :=@98 K=H<
CIBHM @9F? C: -CBCA5 CIBHM CB
*F9J=CIG :=@9 (C
$5BIG5FM
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
5G (9H65G9 9J9@CDA9BH !FCID
8C69 F99? F *9H5@IA5
-CBCA5 CIBHM '5=@=B; 588F9G G5A9
F98 %IG=B .<=G
,9;=GH9F98 )KB9F G
6IG=B9GG =G 7CB8I7H98 6M 5B #B8=J=8I5@
.<9 F9;=GHF5BH 7CAA9B798 HC HF5BG57H 6IG=
B9GG IB89F H<9 :=7H=H=CIG B5A9 CF B5A9G
56CJ9 CB
-=;B5HIF9 F98 %IG=B
)KB9F .<=G GH5H9A9BH K5G :=@98 K=H<
CIBHM @9F? C: -CBCA5 CIBHM CB $5BI
5FM
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
M G 5FF9@@ &=;<H
9DIHM -95@
'5F7<
*I6 96FI5FM
.<9 CAAIB=HM 0C=79
!
.8< 4+ 4-3*68 &60
*:*1452*38 *6:.(*7 1&33.3, .:.7.43
:6&2 :*39* 4-3*68 &60
&8* 6*5&6*) &6(&8* 9'1.7-*) &6(!-* 42293.8< #4.(*
.FIGH99 -5@9
),
.<9 :C@@CK=B; D9FGCB G =G 5F9 8C=B; 6IG=
B9GG 5G CBJ9MCF #BGH5@@5H=CB -9FJ=79
C
15H9F ,C58 CH5H=
15H9F ,C58 CH5H=
.<CA5G ( 8;5F
(5 A9
<5B;9
5 @@
!
$ ,.:*3 8-&8 8-* &551.(&38 8-* .8< 4+ 4-3*68 &60 -&7 .3.8.&8*)
&3) "7* 4&17 &3) 41.(.*7 4+ 8-* *3*6&1 1&3 84 (43
&2*3)2*387 84 *(8.43
7.)*6 541.(.*7 6*1&8*) 84 5648*(8.3, 8-* 79551< 4+ 1&3) +46 (422*6(.&1 )*:*1452*38 &3)
&2*3)2*387 84 *(8.43
4+ 8-* =43.3, 46).3&3(* 84 6*)9(* 8-* &24938 4+ 6*7
.)*38.&1 )*:*1452*38 5*62.88*) ;.8-.3 (422*6(.&1 =43.3, ).786.(87
!-* .8< 4+ 4-3*68 &60 .38*3)7 84 6*:.*; (437.)*6 &3) &)458 &3 3.8.&1 89)< &3)
*,&8.:* *(1&6&8.43 +46 8-* &'4:* 2*38.43*) 564/*(8 11 (422*387 6*,&6).3, 8-*
564547*) 3.8.&1 89)< &3) *,&8.:* *(1&6&8.43 7-&11 '* 79'2.88*) 34 1&8*6 8-&3 56.1
&8
5 2 !-* 564547*) &3 3.8.&1 &3) 89)< *,&8.:* *(1&6&8.43 .7 &:&.1
&'1* +46 59'1.( .375*(8.43 &8 8-* *:*1452*38 *6:.(*7 1&33.3, .:.7.43 14(&8*) &8
.8< &11
:6&2 :*39* 4-3*68 &60
1*&7* 7*3) &11 (422*387
84 8-* +4114;.3, &))6*77
*(
.,/-.
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
(." )''/(#.3 0)#
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
5@@
"
!
!%
!
!
% # 7-&7 7-*
*&5.2, 32 !8*6)&; &5(&7
-&1'*56 3+ 37&7. .7; &00
$*67
1&77*5 6
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
M G ' $I8=H< -9J=@@5 !5F7=5
9DIHM -95@
'5F7<
*I6 96FI5FM
.<9 CAAIB=HM 0C=79
!
!
&5* .29.7*) 73 &77*2) 35 6*2) 7-*.5 (311*276 32 7-*
1&77*56 0.67*) &'39* 73 &1.*2 < .) .7; 3+ 37&7.
$*67 .*55& 9*28* 37&7.
35 7*0*4-32* &7
,*2)& &2) 67&++ 5*4357 :.00 '* &9&.0&'0*
320.2* &7 ::: (37&7.(.7; 35,
!
"
2 35 '*+35* 5.)&; &5(-
6 !&1&5& !&;035
*487; .7; 0*5/
% "
%!
!
" % "
!
!
!%
! ! !
!
8'0.6-*) &5(!-* 31182.7; #3.(*
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
5G $# #3 ,9GH5IF5BH
-CIH<K9GH
@J8 -H9
,C<B9FH *5F?
-CBCA5 CIBHM '5=@=B; 88F9GG G5A9
+= 3CI <9B
,9;=GH9F98 )KB9F G
4<5C&=B 49B; .<=G 6IG=B9GG =G 7CB8I7H98
6M !9B9F5@ *5FHB9FG<=D .<9 F9;=GHF5BH
7CAA9B798 HC HF5BG57H 6IG=B9GG IB89F H<9
:=7H=H=CIG B5A9 CF B5A9G 56CJ9 CB B 5 -=;
B5HIF9 4<5C&=B 49B; .<=G GH5H9A9BH K5G
:=@98 K=H< CIBHM @9F? C: -CBCA5 CIBHM
CB 96FI5FM
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
M G 5FF=9 B89FGCB
9DIHM -95@
'5F7<
*I6 96FI5FM
.<9 CAAIB=HM 0C=79
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
5ADCM
5G =HM &=A=HG 5G=BC *5FH=9G
-H /B=H
-5BH5 ,CG5
-CBCA5 CIBHM '5=@=B; 88F9GG G5A9
,9;=GH9F98 )KB9F G %9BB9H< IH7<9F
.<=G 6IG=B9GG =G 7CB8I7H98 6M 5B #B8=J=8
I5@ .<9 F9;=GHF5BH 7CAA9B798 HC HF5BG57H
6IG=B9GG IB89F H<9 :=7H=H=CIG B5A9 CF
-=;B5HIF9 %9BB9H<
B5A9G 56CJ9 CB
IH7<9F )KB9F .<=G GH5H9A9BH K5G :=@98
K=H< CIBHM @9F? C: -CBCA5 CIBHM CB
96FI5FM
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
M G 5FF9@@ &=;<H
9DIHM -95@
*I6 96FI5FM
'5F7<
.<9 CAAIB=HM 0C=79
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
!C@:
5G !C@89B 95B C::99 "CIG9
CIFG9 F -H9
,C<B9FH *5F?
-CBCA5 CIBHM '5=@=B; 88F9GG
G5A9 ,9;=GH9F98 )KB9F G
.9F9G5 BB
&I75G
A=@M $ 05B'5@9 .<=G 6IG=B9GG
=G 7CB8I7H98 6M 5 !9B9F5@ *5FHB9FG<=D
.<9 F9;=GHF5BH 7CAA9B798 HC HF5BG57H 6IG=
B9GG IB89F H<9 :=7H=H=CIG B5A9 CF B5A9G
56CJ9 CB
-=;B5HIF9 .9F9G5 BB
&I75G A=@M $ 05B'5@9 C )KB9FG .<=G
GH5H9A9BH K5G :=@98 K=H< CIBHM @9F? C:
-CBCA5 CIBHM CB 96FI5FM
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
M G 5FF9@@ &=;<H
9DIHM -95@
'5F7<
*I6 96FI5FM
.<9 CAAIB=HM 0C=79
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
5G
@5ACG /&5G ,C75G /FM
F99? ,C58 "95@8G6IF;
.<CI;<HG
-CBCA5 CIBHM
1CF8G
$ !5@@C 1=B9FM
,9;=GH9F98 )KB9F G
3CG9A=H9 @J8 'C89GHC
1CF8G
5@=:CFB=5
7H=CBG
.<=G 6IG=B9GG =G 7CB8I7H98 6M 5 CFDCF5
7H=CBG
H=CB
"56=HG
.<9 F9;=GHF5BH 7CAA9B798 HC HF5BG57H 6IG=
"56=HG B9GG IB89F H<9 :=7H=H=CIG B5A9 CF B5A9G
05@I9G
56CJ9
05@I9G - ,=7<5F8 - !F9M 0=79 *F9G=89BH 5B8 !9B
9F5@ CIBG9@
9GH=BM S
.<=G GH5H9A9BH K5G :=@98 K=H< CIBHM @9F?
C: -CBCA5 CIBHM CB 96FI5FM
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
! !
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
"
M G 5FF9@@ &=;<H 9DIHM -95@
37&7. .7; 382(.0 :.00 (32)8(7 & 8'0.(
4 1 35 6-3570; 7-*5*&+7*5 .2 7-* 382(.0
(.*55& 9*28* 73 (326.)*5 7-* +3003:.2,
." )''/(#.3 0)#
#&04&5&.63 #.67& .,-7.2, &2) &2)6(&4* .675.(7 27*27.32 73 *7&(-
!
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
$ #
$
"
" !% "
$ !!
! !
"
.FI GH99 -5@9
%
!!
!
"
!
#
!
. - (C
.-! )F89F (C
*(
.. (.#)(
, ( .) ( .. " -/'' ,3 #- **&#
, ), , ." )&&)1#(! ,
& .) ." ().# *,)0#
.) ." .,/-.), )(&3 */,-/ (. .)
#0#& )
(). ." , #- -/'' ,3 ) ." #( ),' .#)( #( ."#- ) /' (. .
. "
(). $/(. /( , -/' (
& #( ),' #W(
-. )
/' (.) . & ' 3,))(! /) (! #'*),' -3)( - )%/' (.)(! #.) (
( % & %#* & / Y %U' ." ) ZT3 &O
( .,V(" O3 .W' &
0 ."X(! .#(
/&. /( ,
.,)(! .O# &# / (O3 ().# ) .,/-. - - & 3)/ , #(
) .,/-. .
/(& -- 3)/ . %
.#)( .) *,). . 3)/,
*,)* ,.3 #. ' 3
-)& . */ &# - & # 3)/ (
( 2*& ( .#)( )
." ( ./, ) ." *,)
#(! ! #(-. 3)/ 3)/ -")/& )(. . & 13 ,
)B
5H
' )@8 ,9DI6@=7 9:5I@H '5B5;9A9BH -9FJ=79G 5 =J=G=CB C: )@8
,9DI6@=7 (5H=CB5@ .=H@9 #BGIF5B79 CAD5BM 5G 8I@M 5DDC=BH98 .FIGH99 DIFGI5BH HC H<9
998 C: .FIGH ,97CF898
5G #BGHFIA9BH (C
=B 6CC? D5;9 C:
)::=7=5@ ,97CF8G =B H<9 C::=79 C: H<9 ,97CF89F C: -CBCA5 CIBHM 5@=:CFB=5 9L97IH98 6M
,# -.,)/
-#(!& ' ( 5G .FIGHCF )1( 3 - 0#(!- ( &) ( --) #
.#)(
, &&3 " ,. , - 0#(!- --) # .#)( 5G 9B9:=7=5FM 1#&&
- && . */ &# / .#)( .) ." "#!" -. #
, ), -" D5M56@9 =B :I@@ 5H H=A9
C: G5@9 6M 75G< 5 75G<=9F G 7<97? 8F5KB 6M 5 GH5H9 CF B5H=CB5@ 65B? 5 7<97? 8F5KB 6M 5
GH5H9 CF :989F5@ 7F98=H IB=CB CF 5 7<97? 8F5KB 6M 5 GH5H9 CF :989F5@ G5J=B;G 5B8 @C5B 5G
GC7=5H=CB G5J=B;G 5GGC7=5H=CB CF G5J=B;G 65B? GD97=:=98 =B G97H=CB
C: H<9 =B5B7=5@
C89 5B8 5IH<CF=N98 HC 8C 6IG=B9GG =B H<=G GH5H9
H H<9 9B8 C: H<9 (CFH< *5F?=B; @CH
HIFB56CIH C: H<9 =HM C: *9H5@IA5 CAAIB=HM 9BH9F =B &I77<9G= *5F? 5H
( '7 CK9@@
@J8 *9H5@IA5
5@@ F=;<H H=H@9 5B8 =BH9F9GH 7CBJ9M98 HC 5B8 BCK <9@8 6M =H IB89F G5=8
998 C: .FIGH =B H<9 DFCD9FHM G=HI5H98 =B G5=8 CIBHM 5B8 GH5H9 5B8 5G ACF9 :I@@M 89
G7F=698 =B H<9 56CJ9 F9:9F9B798 998 C: .FIGH .<9 GHF99H 588F9GG 5B8 CH<9F 7CAACB
89G=;B5H=CB =: 5BM C: H<9 F95@ DFCD9FHM 89G7F=698 56CJ9 =G DIFDCFH98 HC 69
,# (
,#0 ,)"( ,. * ,%
.<9 IB89FG=;B98 .FIGH99 8=G7@5=AG 5BM @=56=@=HM :CF
5BM =B7CFF97HB9GG C: H<9 GHF99H 588F9GG 5B8 CH<9F 7CAACB 89G=;B5H=CB =: 5BM G<CKB
<9F9=B -5=8 G5@9 K=@@ 69 A589 =B 5B Q - #-R 7CB8=H=CB 6IH K=H<CIH 7CJ9B5BH CF K5FF5BHM
9LDF9GG98 CF =AD@=98 F9;5F8=B; H=H@9 DCGG9GG=CB CF 9B7IA6F5B79G HC D5M H<9 F9A5=B=B;
DF=B7=D5@ GIA C: H<9 BCH9 G G97IF98 6M G5=8 998 C: .FIGH K=H< =BH9F9GH H<9F9CB 5G DFC
J=898 =B G5=8 BCH9 G 58J5B79G =: 5BM IB89F H<9 H9FAG C: H<9 998 C: .FIGH 9GH=A5H98
:99G 7<5F;9G 5B8 9LD9BG9G C: H<9 .FIGH99 5B8 C: H<9 HFIGHG 7F95H98 6M G5=8 998 C: .FIGH
HC K=H
GH=A5H98
77FI98 =BH9F9GH 5B8 588=H=CB5@ 58J5B79G =: 5BM K=@@
=B7F95G9 H<=G :=;IF9 DF=CF HC G5@9 #H =G DCGG=6@9 H<5H 5H H<9 H=A9 C: G5@9 H<9 CD9B=B; 6=8
A5M 69 @9GG H<5B H<9 HCH5@ =B896H98B9GG 8I9 ().# .) *). (.# & #
,- #: MCI
5F9 7CBG=89F=B; 6=88=B; CB H<=G DFCD9FHM @=9B MCI G<CI@8 IB89FGH5B8 H<5H H<9F9 5F9 F=G?G
=BJC@J98 =B 6=88=B; 5H 5 HFIGH99 5I7H=CB 3CI K=@@ 69 6=88=B; CB 5 @=9B BCH CB H<9 DFCD9FHM
=HG9@: *@57=B; H<9 <=;<9GH 6=8 5H 5 HFIGH99 5I7H=CB 8C9G BCH 5IHCA5H=75@@M 9BH=H@9 MCI HC
:F99 5B8 7@95F CKB9FG<=D C: H<9 DFCD9FHM 3CI G<CI@8 5@GC 69 5K5F9 H<5H H<9 @=9B 69=B;
5I7H=CB98 C:: A5M 69 5 >IB=CF @=9B #: MCI 5F9 H<9 <=;<9GH 6=889F 5H H<9 5I7H=CB MCI 5F9 CF
A5M 69 F9GDCBG=6@9 :CF D5M=B; C:: 5@@ @=9BG G9B=CF HC H<9 @=9B 69=B; 5I7H=CB98 C:: 69:CF9
MCI 75B F979=J9 7@95F H=H@9 HC H<9 DFCD9FHM 3CI 5F9 9B7CIF5;98 HC =BJ9GH=;5H9 H<9 9L=G
H9B79 DF=CF=HM 5B8 G=N9 C: CIHGH5B8=B; @=9BG H<5H A5M 9L=GH CB H<=G DFCD9FHM 6M 7CBH57H=B;
H<9 7CIBHM F97CF89F G C::=79 CF 5 H=H@9 =BGIF5B79 7CAD5BM 9=H<9F C: K<=7< A5M 7<5F;9
MCI 5 :99 :CF H<=G =B:CFA5H=CB #: MCI 7CBGI@H 9=H<9F C: H<9G9 F9GCIF79G MCI G<CI@8 69
5K5F9 H<5H H<9 G5A9 @9B89F A5M <C@8 ACF9 H<5B CB9 ACFH;5;9 CF 8998 C: HFIGH CB H<9
DFCD9FHM ().# .) *,)* ,.3 )1( , .<9 G5@9 85H9 G<CKB CB H<=G BCH=79 C: G5@9
A5M 69 DCGHDCB98 CB9 CF ACF9 H=A9G 6M H<9 ACFH;5;99 69B9:=7=5FM HFIGH99 CF 5 7CIFH
DIFGI5BH HC -97H=CB
; C: H<9 5@=:CFB=5 =J=@ C89 .<9 @5K F9EI=F9G H<5H =B:CFA5H=CB
56CIH HFIGH99 G5@9 DCGHDCB9A9BHG 69 A589 5J5=@56@9 HC MCI 5B8 HC H<9 DI6@=7 5G 5 7CIF
H9GM HC H<CG9 BCH DF9G9BH 5H H<9 G5@9 #: MCI K=G< HC @95FB K<9H<9F MCIF G5@9 85H9 <5G 699B
DCGHDCB98 5B8 =: 5DD@=756@9 H<9 F9G7<98I@98 H=A9 5B8 85H9 :CF H<9 G5@9 C: H<=G DFCD9FHM
MCI A5M 75@@
CF J=G=H H<=G #BH9FB9H 196 G=H9 KKK DF=CF=HMDCGH=B; 7CA IG=B;
H<9 :=@9 BIA69F 5GG=;B98 HC H<=G 75G9
#B:CFA5H=CB 56CIH DCGHDCB9A9BHG H<5H
5F9 J9FM G<CFH =B 8IF5H=CB CF H<5H C77IF 7@CG9 =B H=A9 HC H<9 G7<98I@98 G5@9 A5M BCH =A
A98=5H9@M 69 F9:@97H98 =B H<9 H9@9D<CB9 =B:CFA5H=CB CF CB H<9 #BH9FB9H 196 G=H9 .<9 69GH
K5M HC J9F=:M DCGHDCB9A9BH =B:CFA5H=CB =G HC 5HH9B8 H<9 G7<98I@98 G5@9 .<9 97@5F5H=CB
DIFGI5BH HC 5@=:CFB=5 =J=@ C89 -97H=CB
5 K5G :I@:=@@98 K<9B H<9 (CH=79 C: 9
:5I@H K5G F97CF898 CB
5H9
)@8 ,9DI6@=7 9:5I@H '5B5;9A9BH
-9FJ=79G
=J=G=CB C: )@8 ,9DI6@=7 (5H=CB5@ .=H@9 #BGIF5B79 CAD5BM 5G .FIGH99
=HM *5F?K5M 19GH -I=H9
)F5B;9
CF -5@9 #B:CFA5H=CB
CBH57H *F=CF=HM *CGH=B; *I6@=G<=B;
5@5MG=5 ,5A=F9N .FIGH99 -5@9 ):
:=79F 19 5F9 5HH9ADH=B; HC 7C@@97H 5 896H 5B8 5BM =B:CFA5H=CB K9 C6H5=B K=@@ 69 IG98 :CF
H<5H DIFDCG9 *
**
*I6
.<9 CAAIB=HM 0C=79
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
5G
*CBH
J=;BCB /.KC ,C7? 1=B
9FM
FM F99? ,C58 "95@8G6IF;
-CBCA5 CIBHM
$ !5@@C 1=B9FM
,9;=GH9F98 )KB9F G
3CG9A=H9 @J8 'C89GHC
5@=:CFB=5
.<=G 6IG=B9GG =G 7CB8I7H98 6M 5 CFDCF5
H=CB
.<9 F9;=GHF5BH 7CAA9B798 HC HF5BG57H 6IG=
B9GG IB89F H<9 :=7H=H=CIG B5A9 CF B5A9G
56CJ9
- ,=7<5F8 - !F9M 0=79 *F9G=89BH 5B8 !9B
9F5@ CIBG9@
.<=G GH5H9A9BH K5G :=@98 K=H< CIBHM @9F?
C: -CBCA5 CIBHM CB 96FI5FM
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
M G 5FF9@@ &=;<H 9DIHM -95@
(." )''/(#.3 0)#
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G =G 5F9 8C=B; 6IG=
B9GG 5G -5H9@@=H9 "95@H<75F9 -5BH5 ,CG5
=F758=5B 15M -I=H9 -5BH5 ,CG5
-5H9@@=H9 "95@H<75F9 #B7
-5BH5B5 ,CK -I=H9
-5B $CG9
.<=G 6IG=B9GG =G 7CB8I7H98 6M 5 CFDCF5
H=CB .<9 F9;=GHF5BH G 7CAA9B798 HC HF5BG
57H 6IG=B9GG IB89F H<9 :=7H=H=CIG 6IG=B9GG
B5A9 CF B5A9G @=GH98 56CJ9 CB (
# 897@5F9 H<5H 5@@ =B:CFA5H=CB =B H<=G GH5H9
A9BH =G HFI9 5B8 7CFF97H
F9;=GHF5BH K<C
897@5F9G 5G HFI9 =B:CFA5H=CB K<=7< <9 CF
G<9 ?BCKG HC 69 :5@G9 =G ;I=@HM C: 5 7F=A9
-5H9@@=H9 "95@H<75F9 #B7
- '5F? IF?9
)
.<=G GH5H9A9BH K5G :=@98 K=H< H<9 CIBHM
@9F? C: -CBCA5 CIBHM CB
().# .<=G =7H=H=CIG (5A9 -H5H9A9BH 9L
D=F9G :=J9 M95FG :FCA H<9 85H9 =H K5G :=@98 =B
H<9 C::=79 C: H<9 CIBHM @9F? (9K =7H=
H=CIG IG=B9GG (5A9 -H5H9A9BH AIGH 69
:=@98 69:CF9 H<5H H=A9
.<9 :=@=B; C: H<=G GH5H9A9BH 8C9G BCH C: =HG9@:
5IH<CF=N9 H<9 IG9 =B H<=G GH5H9 C: 5 =7H=H=CIG
IG=B9GG (5A9 =B J=C@5H=CB C: H<9 F=;<HG C:
5BCH<9F IB89F 989F5@ -H5H9 CF 7CAACB
@5K -99 -97H=CB
9H G9E IG=B9GG
5B8 *FC:9GG=CBG C89
)F=;=B5@ =@=B;
(." )''/(#.3 0)#
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G =G 5F9 8C=B; 6IG=
B9GG 5G %F=-H5F BH9FDF=G9G *- *F5=B5;9 *FCH97H=CB -MGH9AG F5=B5;9
*FCH97H=CB -MGH9AG
5M69FFM F=J9
-5BH5 ,CG5
CIBHM C: -CBCA5
,9;=GH9F98 CKB9F G
)@875GH@9 *F975GH #B7
G<KCC8 *5F?
K5M H@5BH5 !
.<=G 6IG=B9GG =G 7CB8I7H98 6M
CFDCF5
H=CB
.<9 F9;=GHF5BH 7CAA9B798 HC HF5BG57H 6IG=
B9GG IB89F H<9 :=7H=H=CIG 6IG=B9GG B5A9 CF
B5A9G @=GH98 56CJ9 CB (
# 897@5F9 H<5H 5@@ =B:CFA5H=CB =B H<=G GH5H9
A9BH =G HFI9 5B8 7CFF97H
F9;=GHF5BH K<C
897@5F9G 5G HFI9 =B:CFA5H=CB K<=7< <9 CF
G<9 ?BCKG HC 69 :5@G9 =G ;I=@HM C: 5 7F=A9
- ' F5=; "5@@
.<=G GH5H9A9BH K5G :=@98 K=H< H<9 CIBHM
@9F? C: -CBCA5 CB 96FI5FM
().# #B 577CF85B79 K=H< -97H=CB
5 5 =7H=H=CIG (5A9 -H5H9A9BH ;9B
9F5@@M 9LD=F9G :=J9 M95FG :FCA H<9 85H9 =H K5G
:=@98 K=H< H<9 CIBHM @9F? 9L79DH 5G DFC
J=898 =B -97H=CB
6 K<9F9 =H 9LD=F9G
85MG 5:H9F 5BM 7<5B;9 =B H<9 :57HG G9H
:CFH< =B H<9 GH5H9A9BH DIFGI5BH HC G97H=CB
CH<9F H<5B 5 7<5B;9 =B H<9 F9G=89B79
588F9GG C: 5 F9;=GH9F98 CKB9F (9K =7H=
H=CIG IG=B9GG (5A9 -H5H9A9BH AIGH 69
:=@98 69:CF9 H<9 9LD=F5H=CB
.<9 :=@=B; C: H<=G GH5H9A9BH 8C9G BCH C: =HG9@:
5IH<CF=N9 H<9 IG9 =B H<=G GH5H9 C: 5 =7H=H=CIG
IG=B9GG (5A9 =B J=C@5H=CB C: H<9 F=;<HG C:
5BCH<9F IB89F 989F5@ -H5H9 CF 7CAACB
9H G9E IG=B9GG
@5K -99 -97H=CB
5B8 *FC:9GG=CBG C89
)F=;=B5@
(." )''/(#.3 0)#
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G =G 5F9 8C=B; 6IG=
B9GG 5G
& ( 0#( 3 , - #(.,#!/
." -., .
-. &
-.
-)()'
0#!( .. 1#( ,3 &&
."
-.
-)()'
-., . -. &
.<=G 6IG=B9GG =G 7CB8I7H98 6M 5 @=A=H98 @=
56=@=HM 7CAD5BM
.<9 F9;=GHF5BH G 7CAA9B798 HC HF5BG57H
6IG=B9GG IB89F H<9 :=7H=H=CIG 6IG=B9GG
B5A9 CF B5A9G @=GH98 56CJ9 CB (
# 897@5F9 H<5H 5@@ =B:CFA5H=CB =B H<=G GH5H9
F9;=GHF5BH K<C
A9BH =G HFI9 5B8 7CFF97H
897@5F9G 5G HFI9 =B:CFA5H=CB K<=7< <9 CF
G<9 ?BCKG HC 69 :5@G9 =G ;I=@HM C: 5 7F=A9
0#!( .. 1#( ,3 &&
- *"#&&#* 0)( /,! ' ( !#(! ' '
,
.<=G GH5H9A9BH K5G :=@98 K=H< H<9 CIBHM
@9F? C: -CBCA5 CIBHM CB
().# .<=G =7H=H=CIG (5A9 -H5H9A9BH 9L
D=F9G :=J9 M95FG :FCA H<9 85H9 =H K5G :=@98 =B
H<9 C::=79 C: H<9 CIBHM @9F? (9K =7H=
H=CIG IG=B9GG (5A9 -H5H9A9BH AIGH 69
:=@98 69:CF9 H<5H H=A9
.<9 :=@=B; C: H<=G GH5H9A9BH 8C9G BCH C: =HG9@:
5IH<CF=N9 H<9 IG9 =B H<=G GH5H9 C: 5 =7H=H=CIG
IG=B9GG (5A9 =B J=C@5H=CB C: H<9 F=;<HG C:
5BCH<9F IB89F 989F5@ -H5H9 CF 7CAACB
@5K -99 -97H=CB
9H G9E IG=B9GG
5B8 *FC:9GG=CBG C89
)F=;=B5@ =@=B;
(." )''/(#.3 0)#
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
5G
J5@CB 1=B9FM
5@=GH5 0=B9M5F8G
CB7C7H=CB
CB7C7H=CB 1=B9 9@@5FG
FMDH=7 1=B9 9@@5FG
CIF 0=B9G 1=B9FM
,596IFB 1=B9FM .<9 (5?98 .<9 1=@@
!F5HCB ,8 !F5HCB
=B;
-CBCA5 CIBHM '5=@=B; 88F9GG G5A9
,9;=GH9F98 )KB9F G *IFD@9 1=B9 CA
D5BM && .<=G 6IG=B9GG =G 7CB8I7H98 6M
5 &=A=H98 &=56=@=HM CAD5BM .<9 F9;=GHF5BH
7CAA9B798 HC HF5BG57H 6IG=B9GG IB89F H<9
:=7H=H=CIG B5A9 CF B5A9G 56CJ9 CB B 5 -=;
B5HIF9 ,C6=B (9<5G=@ -97F9H5FM .<=G GH5H9
A9BH K5G :=@98 K=H< CIBHM @9F? C:
-CBCA5 CIBHM CB 96FI5FM
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
M G 5FF9@@ &=;<H
9DIHM -95@
'5F7<
*I6 96FI5FM
.<9 CAAIB=HM 0C=79
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
-CIH<K9GH
5G 'CIBH5=B '=?9SG *=NN5
@J8 -H9
,C<B9FH *5F?
-CBCA5 CIBHM '5=@=B; 88F9GG G5A9
,9;=GH9F98 )KB9F G 09BHIF9 *=NN5 EI=
H=9G && .<=G 6IG=B9GG =G 7CB8I7H98 6M 5
&=A=H98 &=56=@=HM CAD5BM .<9 F9;=GHF5BH
7CAA9B798 HC HF5BG57H 6IG=B9GG IB89F H<9
:=7H=H=CIG B5A9 CF B5A9G 56CJ9 CB B 5 -=;
B5HIF9 *5F899D -=B;< '9A69F .<=G GH5H9
A9BH K5G :=@98 K=H< CIBHM @9F? C:
-CBCA5 CIBHM CB 96FI5FM
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
M G $I@=9 !5F:=5
9DIHM -95@
*I6 96FI5FM
'5F7<
.<9 CAAIB=HM 0C=79
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
5G =F7@9 C: &=:9 09H9F=B5FM "CIG975@@G C:
)F7<5F8 -H5H=CB ,8
-CBCA5 CIBHM
-965GHCDC@
-CBCA5 CIBHM
'5=@=B;
88F9GG G5A9 ,9;=GH9F98
)KB9F G ,<CB85 - -5J5;9 .<=G 6IG=
B9GG =G 7CB8I7H98 6M 5B #B8=J=8I5@ .<9
F9;=GHF5BH 7CAA9B798 HC HF5BG57H 6IG=B9GG
IB89F H<9 :=7H=H=CIG B5A9 CF B5A9G 56CJ9
CB ( -=;B5HIF9 ,<CB85 - -5J5;9 0'
.<=G GH5H9A9BH K5G :=@98 K=H< CIBHM @9F?
C: -CBCA5 CIBHM CB 96FI5FM
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
M G 5FF=9 B89FGCB
9DIHM -95@
'5F7<
*I6 96FI5FM
.<9 CAAIB=HM 0C=79
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
97?M H
5G &C;DF=B79 CBGHFI7H=CB
-5BH5 ,CG5
-CBCA5 CIBHM
'5=@=B;
88F9GG G5A9 ,9;=GH9F98
)KB9F G -5@J58CF )7<C5 .<=G 6IG=B9GG
=G 7CB8I7H98 6M 5B #B8=J=8I5@ .<9 F9;=G
HF5BH 7CAA9B798 HC HF5BG57H 6IG=B9GG
IB89F H<9 :=7H=H=CIG B5A9 CF B5A9G 56CJ9
CB 97
-=;B5HIF9 -5@J58CF )7<C5
.<=G GH5H9A9BH K5G :=@98 K=H< CIBHM @9F?
C: -CBCA5 CIBHM CB 96FI5FM
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
M G $I@=9 !5F:=5
9DIHM -95@
*I6 96FI5FM
'5F7<
.<9 CAAIB=HM 0C=79
=7H=H=CIG IG=B9GG (5A9 -H5H9A9BH
=@9 (C
.<9 :C@@CK=B; D9FGCB G 5F9 8C=B; 6IG=B9GG
5G 7CFB <=FCDF57H=7 @I6
&MB7<
F99? 15M -H9
*9H5@IA5
-CBCA5 CIBHM '5=@=B; 88F9GG G5A9
,9;=GH9F98 )KB9F G
'5HH<9K -5BHCG
$9BB=:9F -5BHCG .<=G 6IG=B9GG =G 7CB
8I7H98 6M 5 '5FF=98 CID@9 .<9 F9;=GHF5BH
7CAA9B798 HC HF5BG57H 6IG=B9GG IB89F H<9
:=7H=H=CIG B5A9 CF B5A9G 56CJ9 CB ( -=;
B5HIF9 '5HH<9K -5BHCG C )KB9F .<=G
GH5H9A9BH K5G :=@98 K=H< CIBHM @9F? C:
-CBCA5 CIBHM CB 96FI5FM
# <9F96M 79FH=:M H<5H H<=G 7CDM =G 5 7CFF97H
7CDM C: H<9 CF=;=B5@ GH5H9A9BH CB :=@9 =B AM
C::=79
1=@@=5A ,CIGG95I -CBCA5 CIBHM @9F?
M G 5FF9@@ &=;<H
9DIHM -95@
*I6 96FI5FM
'5F7<
.<9 CAAIB=HM 0C=79
( 5G @CK 5G
(5A9 7<5B;9
.C DI6@=G< MCIF @9;5@ 75@@
.<9 CAAIB=HM 0C=79
!
& %)
&
!
($" " # !
!%
!
#%
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
<?.9
.@ ?1<? 2.9A5 '<9BA6<;@
<?.9 '=?6;4@ !
&6142 ? 'B6A2
'<;<:. <B;AF ".696;4 11?2@@
@.:2 &246@A2?21 $D;2? @ 99 '<B?02 &2
0?B6A6;4 ?<B= ;0 (56@ /B@6;2@@ 6@ 0<;
1B0A21 /F . <?=<?.A6<; (52 ?246@A?.;A
0<::2;021 A< A?.;@.0A /B@6;2@@ B;12? A52
360A6A6<B@ ;.:2 <? ;.:2@ ./<C2 <; # '64
$ (56@ @A.A2:2;A
;.AB?2 "682 !.:6.
D.@ 36921 D6A5 <B;AF 92?8 <3 '<;<:.
<B;AF <; 2/?B.?F
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ .??62 ;12?@<;
2=BAF '2.9
".?05
%B/ 2/?B.?F
(52 <::B;6AF *<602
$&
& ($ ' $+ )' $&
# $ # "
.@2 #B:/2?
(< .99 6;A2?2@A21 =2?@<;@ %2A6A6<;2?
"6;41. -.;4 36921 . =2A6A6<; D6A5 A56@ 0<B?A
3<? . 120?22 05.;46;4 ;.:2@ .@ 3<99<D@
"6;41. -.;4 A< .08 "6;41. "68<9<;
$)&( $& &' A5.A .99 =2?@<;@ 6;
(
A2?2@A21 6; A56@ :.AA2? @5.99 .==2.? /23<?2
A56@ 0<B?A .A A52 52.?6;4 6;160.A21 /29<D A<
@5<D 0.B@2 63 .;F D5F A52 =2A6A6<; 3<?
05.;42 <3 ;.:2 @5<B91 ;<A /2 4?.;A21
#<A602 <3 2.?6;4 =?69
.A
. : 2=A
'<;<:. <B;AF 'B=2?6<?
<B?A
92C29.;1 C2 '.;A. &<@.
0<=F <3 A56@ $?12? A< '5<D .B@2 @5.99
/2 =B/96@521 <;02 . D228 3<? 3<B? @B002@
@6C2 D228@ =?6<? A< A52 1.A2 @2A 3<? 52.?6;4
<; A52 =2A6A6<; 6; A52 3<99<D6;4 ;2D@=.=2?
<3 42;2?.9 06?0B9.A6<; =?6;A21 6; A56@
0<B;AF (52 <::B;6AF *<602 % $ <E
&<5;2?A %.?8
.A21 2/?B.?F
@ #.;0F '5.332? B142 <3 A52 'B=2?6<?
<B?A
%B/ 2/?B.?F
".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
+ '62??.
.@ !69.7.FI@ .821 <<1@
C2 =A
<A.A6
'<;<:.
<B;AF ".696;4 11?2@@ @.:2 &246@A2?21
$D;2? @
!69. 85G.? !.AAB?2 .F '0<AA
!.AAB?2 (56@ /B@6;2@@ 6@ 0<;1B0A21 /F
".??621 <B=92 (52 ?246@A?.;A 0<::2;021
A< A?.;@.0A /B@6;2@@ B;12? A52 360A6A6<B@
'64;.AB?2
;.:2 <? ;.:2@ ./<C2 <;
!69. 85G.? !.AAB?2 (56@ @A.A2:2;A D.@
36921 D6A5 <B;AF 92?8 <3 '<;<:. <B;AF
<; 2/?B.?F
%?2C6<B@ 3692 ;<
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ " B16A5 '2C699. .?06.
2=BAF '2.9
%B/ 2/?B.?F
".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
.@ :2?60.; 0.12:F <3 .;;./6;<61 "21
<?96;2 <B?A 'B6A2
'2
606;2
/.@A<=<9
'<;<:. <B;AF
11?2@@ @.:2 &246@A2?21
".696;4
.963<?;6. .;;./6@ &2@2?05
$D;2? @
"2160.9 ?<B= (56@ /B@6;2@@ 6@ 0<;1B0A21
<?=<?.A6<; (52 ?246@A?.;A 0<:
/F
:2;021 A< A?.;@.0A /B@6;2@@ B;12? A52 360
A6A6<B@ ;.:2 <? ;.:2@ ./<C2 <; ; .
'64;.AB?2 'A.02F 2?? " (?2.@B?2? (56@
;2@@ .@
'A.42 B905 &1
+, +6;2 <:=.;F
'<;<:.
+, +6;2 <:=.;F
&21D<<1 9C1
'A2
#<C.A<
(56@ /B@6;2@@ 6@ 0<;1B0A21 /F . <?=<?.
A6<;
(52 ?246@A?.;A @ 0<::2;021 A< A?.;@.0A
/B@6;2@@ B;12? A52 360A6A6<B@ /B@6;2@@
;.:2 <? ;.:2@ 96@A21 ./<C2 <;
1209.?2 A5.A .99 6;3<?:.A6<; 6; A56@ @A.A2
:2;A 6@ A?B2 .;1 0<??20A
?246@A?.;A D5<
1209.?2@ .@ A?B2 6;3<?:.A6<; D5605 52 <?
@52 8;<D@ A< /2 3.9@2 6@ 4B69AF <3 . 0?6:2
+, +6;2 <:=.;F
' <?<A52. "0 .?9.;1 <AA92?
(56@ @A.A2:2;A D.@ 36921 D6A5 A52 <B;AF
92?8 <3 '<;<:. <B;AF <;
#$(
(56@ 60A6A6<B@ #.:2 'A.A2:2;A 2E
=6?2@ 36C2 F2.?@ 3?<: A52 1.A2 6A D.@ 36921 6;
A52 <33602 <3 A52 <B;AF 92?8 #2D 60A6
A6<B@ B@6;2@@ #.:2 'A.A2:2;A :B@A /2
36921 /23<?2 A5.A A6:2
(52 3696;4 <3 A56@ @A.A2:2;A 1<2@ ;<A <3 6A@293
.BA5<?6G2 A52 B@2 6; A56@ @A.A2 <3 . 60A6A6<B@
B@6;2@@ #.:2 6; C6<9.A6<; <3 A52 ?645A@ <3
.;<A52? B;12? 212?.9 'A.A2 <? 0<::<;
2A @2> B@6;2@@
9.D '22 '20A6<;
.;1 %?<32@@6<;@ <12
$?646;.9 696;4
@A.A2:2;A D.@ 36921 D6A5 <B;AF 92?8 <3
'<;<:. <B;AF <; 2/?B.?F
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ .??299 !645A
2=BAF '2.9
".?05
%B/ 2/?B.?F
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
+2@A 6?@A
.@ '<690B9AB?2 <;@B9A6;4
'<;<:. <B;AF
'A 9<C2?1.92
'<;<:. DF %"
".696;4 11?2@@
'<;<:.
&246@A2?21
$D;2? @ #.A6C2 B9AB?2@ ;A2?;.A6<;.9 ;0
(56@ /B@6;2@@ 6@ 0<;1B0A21 /F
<?=<?.
A6<; (52 ?246@A?.;A 0<::2;021 A< A?.;@.0A
/B@6;2@@ B;12? A52 360A6A6<B@ ;.:2 <?
'64
;.:2@ ./<C2 <; '2=A2:/2?
;.AB?2 '52??F !BAG '20?2A.?F (?2.@B?2?
(56@ @A.A2:2;A D.@ 36921 D6A5 <B;AF 92?8
<3 '<;<:. <B;AF <; .;B.?F
%?2C6<B@ 3692 #<
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ " B16A5 '2C699. .?06.
2=BAF '2.9
%B/ 2/?B.?F
".?05
(52 <::B;6AF *<602
(
#'
$"")# (- *$
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
29:<;A ?A );6A
.@ B:=A6<; 61@
'.;A. &<@.
'<;<:. <B;AF
".696;4
11?2@@ @.:2 &246@A2?21
$D;2? @ 2;;. '52??<; (56@ /B@6;2@@ 6@
0<;1B0A21 /F ; ;16C61B.9 (52 ?246@A?.;A
0<::2;021 A< A?.;@.0A /B@6;2@@ B;12? A52
360A6A6<B@ ;.:2 <? ;.:2@ ./<C2 <;
'64;.AB?2 2;;. '52??<; $D;2? (56@
@A.A2:2;A D.@ 36921 D6A5 <B;AF 92?8 <3
'<;<:. <B;AF <; 2/?B.?F
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ " B16A5 '2C699. .?06.
2=BAF '2.9
%B/ ".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
%?2@@92F &1
.@ <496;2 *6;2F.?1@
'<;<:. <B;AF
'.;A. &<@.
11?2@@ @.:2 &246@A2?21
".696;4
$D;2? @ "<B;A.6; *.992F *6;2F.?1@ ;0
(56@ /B@6;2@@ 6@ 0<;1B0A21 /F
<?=<?.
A6<; (52 ?246@A?.;A 0<::2;021 A< A?.;@.0A
/B@6;2@@ B;12? A52 360A6A6<B@ ;.:2 <?
'64;.
;.:2@ ./<C2 <; '2=A2:/2?
$ (56@ @A.A2:2;A
AB?2 ?2;A 2@@6?2
D.@ 36921 D6A5 <B;AF 92?8 <3 '<;<:.
<B;AF <; .;B.?F
%?2C6<B@ 3692
#<
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ .??299 !645A
2=BAF '2.9
%B/ 2/?B.?F
".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
.@ 'B/D.F
'<BA5D2@A 9C1 'B6A2
'<;<:. <B;AF
&<5;2?A %.?8
11?2@@ @.:2 &246@A2?21
".696;4
$D;2? @ ".9D. ;0 (56@ /B@6;2@@ 6@ 0<;
1B0A21 /F
<?=<?.A6<; (52 ?246@A?.;A
0<::2;021 A< A?.;@.0A /B@6;2@@ B;12? A52
360A6A6<B@ ;.:2 <? ;.:2@ ./<C2 <;
'64;.AB?2 &.;/6? '615B %?2@612;A (56@
@A.A2:2;A D.@ 36921 D6A5 <B;AF 92?8 <3
%?2
'<;<:. <B;AF <; 2/?B.?F
C6<B@ 3692 #<
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ " .??299 !645A
2=BAF '2.9
%B/ ".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
.@ (52 !.@A 2A.69
A5 'A %2A.9B:.
'<;<:. <B;AF ".696;4 1
1?2@@ @.:2 &246@A2?21 $D;2? @ &F.;
*699. (56@ /B@6;2@@ 6@ 0<;1B0A21 /F ; ;
16C61B.9 (52 ?246@A?.;A 0<::2;021 A<
A?.;@.0A /B@6;2@@ B;12? A52 360A6A6<B@ ;.:2
<? ;.:2@ ./<C2 <; ; . '64;.AB?2 &F.;
*699. $D;2? (56@ @A.A2:2;A D.@ 36921 D6A5
<B;AF 92?8 <3 '<;<:. <B;AF <; .;B
.?F
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ .??62 ;12?@<;
2=BAF '2.9
".?05
%B/ 2/?B.?F
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
.@ ?.=2C6;2 9<?.9 2@64;
".?9<D
'<;<:.
&1 '.;A. &<@.
<B;AF ".696;4 11?2@@ @.:2 &246@A2?21
$D;2? @ .C61 +.F;2 .;@<; (56@ /B@6
;2@@ 6@ 0<;1B0A21 /F .; ;16C61B.9 (52
?246@A?.;A 0<::2;021 A< A?.;@.0A /B@6;2@@
B;12? A52 360A6A6<B@ ;.:2 <? ;.:2@ ./<C2
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ 6@ .?2 1<6;4 /B@6
*HWWLQJ$URXQG
#!'
#
)O\LQWKHRLQWPHQW
8QWLG\RQH
3LUDWH¶VTXDII
'RZQ
6ODQJ\QHJDWLYH
7XUNLVKULYHU
+HOJHQEHUJHURI
³,QWHOOLJHQFH´
7KH%UDYHVRQ
VFRUHERDUGV
7UDQVSRUWIRUWKHEXQGOH
RIMR\
6WROH
&KLQHVHOLIHHQHUJ\
:D\EDFNZKHQ
6FKHLGHURI³-DZV´
³7KH-R\/XFN&OXE´ DXWKRU
$FWUHVV*HUVKRQRU
/ROOREULJLGD
%ODFN6HDQDWLRQ
6ODYHJLUORIRSHUD
2EOLWHUDWHV
*RGRIIHQGHGE\
'DSKQLV
&RPPRWLRQV
+RZWRVHHWKHVWDUV" *XLWDUUHODWLYHVEULHÀ\ :LQHU\VLJKW
³+RJDQ¶V+HURHV´VHWWLQJ
³<RXEHWFKD´
1RWSURPLVLQJ
0DNHVODFH
/HWWHUDIWHUWKHWD
,VODQGKRSSLQJWUDYHO FKRLFH
6WRSDQGJRWUDQVSRUW /RUG¶VZRUNHU
/DEHJJV
%XHQRVBBB
7LJHUIRURQH
0DUVKSODQW
3DUWRIDSULFH
'XFN¶VKRPH
8NUDLQLDQSRUW
5RELQ&RRNWKULOOHU
3UHVVLQJQHHG"
'HIHQVHDFURQ\P
(QJOLVKSUHSVFKRRO
0DOGHBBB
+DQGELOOV
3R]VRQ\QDWLYH
*ROGHQ+RUGHPHPEHU 9HLQFRQWHQWV
6WRFN¿JXUH
+DLUVW\OH
9DOKDOODFKLHI
6PHOO\WUDYHORSWLRQ" &REEOHU¶VWRRO
:D\WRJRDW6TXDZ
9DOOH\
+HOSIRUWKHVWXPSHG )HQFLQJVZRUG
,QIDQW¶VLOOQHVV
6SDQLVKVSDUNOLQJZKLWH
ZLQH
1DYHEHQFK
6XEGXHG
&RUSRUDWH9,3
/DXJKDEOH
6PDOOSDVVHQJHUYHKLFOH 0LJUDWRU\¿VK
(TXHVWULDQ¶VDWWLUH
%UXQFKIDUH
3RSXODUWKHDWHUQDPH BBB+XOND³6WULSHV´ UROH
0DSOHJHQXV
,QDPLQXWH
'LOOVHHG
%UHZSXERIIHULQJ
'LVREHGLHQW
$UURZSRLVRQ
&REEOHUV¶WRROV
%XEEO\QDPH
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
.@ ;496@5D<?8@
&<@@ 'A );6A
<
A.A6
&246@A2?21 $D;2? @
"6052992 2FH ;02;< ;<<= (56@ /B@6
;2@@ 6@ 0<;1B0A21 /F .; ;16C61B.9 (52
?246@A?.;A 0<::2;021 A< A?.;@.0A /B@6;2@@
B;12? A52 360A6A6<B@ ;.:2 <? ;.:2@ ./<C2
'64;.AB?2 "6052992 ;<<= (56@
<;
@A.A2:2;A D.@ 36921 D6A5 <B;AF 92?8 <3
'<;<:. <B;AF <; ".?05
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ .??299 !645A
2=BAF '2.9
%B/ ".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
.@ '0<?G <.?1@
<91=.; 6?092
'<;<:. <B;AF
'.;A. &<@.
$?05.?1 C2
".696;4 11?2@@
B2?;2C6992
&246@A2?21
92E <;2@ &F.; '.;A6.4<
$D;2? @
(56@ /B@6;2@@ 6@ 0<;1B0A21 /F . 2;2?.9
%.?A;2?@56= (52 ?246@A?.;A 0<::2;021 A<
A?.;@.0A /B@6;2@@ B;12? A52 360A6A6<B@ ;.:2
<? ;.:2@ ./<C2 <; # '64;.AB?2 92E
<;2@ $D;2? &F.; '.;A6.4< $D;2? (56@
@A.A2:2;A D.@ 36921 D6A5 <B;AF 92?8 <3
'<;<:. <B;AF <; 2/?B.?F
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ .??299 !645A
2=BAF '2.9
%B/ ".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
"<;A206A<
.@ (.82 -<B? 6AF 9<A56;4
9C1
=A
'.;A. &<@.
'<;<:. <B;AF ".696;4 11?2@@ @.:2
&246@A2?21 $D;2? @ <@5B. '5.;2 B1
@<; (56@ /B@6;2@@ 6@ 0<;1B0A21 /F .; ;
16C61B.9 (52 ?246@A?.;A 0<::2;021 A<
A?.;@.0A /B@6;2@@ B;12? A52 360A6A6<B@ ;.:2
<? ;.:2@ ./<C2 <; # '64;.AB?2 <@5B.
'5.;2 B1@<; (56@ @A.A2:2;A D.@ 36921
D6A5 <B;AF 92?8 <3 '<;<:. <B;AF <;
2/?B.?F
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ .??299 !645A
2=BAF '2.9
%B/ ".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
.@ '&! (?.C29
.@A 'A %2;;4?<C2
'<;<:. <B;AF ".696;4 11?2@@ %
&246@A2?21
$ <E %2;;4?<C2
$D;2? @ 'A2=52; &605.?1 !.1208 (56@
/B@6;2@@ 6@ 0<;1B0A21 /F ; ;16C61B.9
(52 ?246@A?.;A 0<::2;021 A< A?.;@.0A /B@6
;2@@ B;12? A52 360A6A6<B@ ;.:2 <? ;.:2@
./<C2 <;
'64;.AB?2 'A2=52; &605.?1
!.1208 $D;2? (56@ @A.A2:2;A D.@ 36921
D6A5 <B;AF 92?8 <3 '<;<:. <B;AF <;
2/?B.?F
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ 9:. &<:.;
2=BAF '2.9
%B/ ".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
.@ '<=56.I@ .6? '.9<;
+2@A 'A229 !;
'<;<:. <B;AF
'.;A. &<@.
11?2@@ @.:2 &246@A2?21
".696;4
927.;
$D;2? @ (2?2@. &<7< &<1?64B2G
1?< &<1?64B2G (56@ /B@6;2@@ 6@ 0<;1B0A21
/F ".??621 <B=92 (52 ?246@A?.;A 0<:
:2;021 A< A?.;@.0A /B@6;2@@ B;12? A52 360
A6A6<B@ ;.:2 <? ;.:2@ ./<C2 <; #
'64;.AB?2 (2?2@. &<7< &<1?64B2G (56@
@A.A2:2;A D.@ 36921 D6A5 <B;AF 92?8 <3
'<;<:. <B;AF <; 2/?B.?F
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ 9:. &<:.;
2=BAF '2.9
%B/ ".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
".A.;G.@ ?228 !.;2
.@ ! # I@
'<;<:. <B;AF
'.;A. &<@.
11?2@@ @.:2 &246@A2?21
".696;4
$D;2? @
! # ;0 (56@ /B@6;2@@ 6@
0<;1B0A21 /F . <?=<?.A6<; (52 ?246@
A?.;A 0<::2;021 A< A?.;@.0A /B@6;2@@
B;12? A52 360A6A6<B@ ;.:2 <? ;.:2@ ./<C2
'64;.AB?2 2?.91 !.;4 %?2@6
<;
12;A (56@ @A.A2:2;A D.@ 36921 D6A5 <B;AF
92?8 <3 '<;<:. <B;AF <; 2/?B.?F
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
.@
BA< <1F
92C29.;1 C2
'<;<:. <B;AF
'.;A. &<@.
11?2@@ @.:2 &246@A2?21
".696;4
$D;2? @ % &' ;0 (56@ /B@6;2@@ 6@ 0<;
1B0A21 /F . <?=<?.A6<; (52 ?246@A?.;A
0<::2;021 A< A?.;@.0A /B@6;2@@ B;12? A52
360A6A6<B@ ;.:2 <? ;.:2@ ./<C2 <;
'64;.AB?2 %21?< 2??.;G 5623 E20BA6C2
$33602? (56@ @A.A2:2;A D.@ 36921 D6A5
<B;AF 92?8 <3 '<;<:. <B;AF <; 2/?B
.?F
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ B962 .?36.
2=BAF '2.9
%B/ ".?05
(52 <::B;6AF *<602
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ 9:. &<:.;
2=BAF '2.9
%B/ ".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
6<A208
2@64;
<:=.;F
.@
%2A.9B:. 699 &1 '.;A. &<@.
'<;<:. <B;AF ".696;4 11?2@@ @.:2
&246@A2?21 $D;2? @ &60.?1< &<:.; "2;
1<G. (56@ /B@6;2@@ 6@ 0<;1B0A21 /F ; ;
16C61B.9 (52 ?246@A?.;A 0<::2;021 A<
A?.;@.0A /B@6;2@@ B;12? A52 360A6A6<B@ ;.:2
<? ;.:2@ ./<C2 <; ; . '64;.AB?2 &60.?1<
&<:.; "2;1<G. (56@ @A.A2:2;A D.@ 36921
D6A5 <B;AF 92?8 <3 '<;<:. <B;AF <;
.;B.?F
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ 9:. &<:.;
2=BAF '2.9
%B/ ".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
.@ 99B:6;.A6 ;A2?;.A6<;.9 99B:6;.A6 6
?20A 0<:
99B:6;.A6 +5<92@.92
9.@
@60 A &<5;2?A %.?8
'<;<:.
<B;AF ".696;4 11?2@@ @.:2 &246@A2?21
$D;2? @ '<;<:. %9.;A +<?8@ ;0 (56@
/B@6;2@@ 6@ 0<;1B0A21 /F
<?=<?.A6<;
(52 ?246@A?.;A 0<::2;021 A< A?.;@.0A /B@6
;2@@ B;12? A52 360A6A6<B@ ;.:2 <? ;.:2@
./<C2 <;
'64;.AB?2 2.A52? !<AA
$ (56@ @A.A2:2;A D.@ 36921 D6A5 <B;AF
92?8 <3 '<;<:. <B;AF <; 2/?B.?F
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
)
#
360A6A6<B@ ;.:2 <? ;.:2@ ./<C2 <; ; . '64
;.AB?2 92E %.9: ".;.46;4 "2:/2? (56@
@A.A2:2;A D.@ 36921 D6A5 <B;AF 92?8 <3
'<;<:. <B;AF <; 2/?B.?F
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ .??62 ;12?@<;
2=BAF '2.9
%B/ ".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
<B/92@ ?
.@ %.?8 !.;2 *699.@ .@A
'.;A. &<@.
'<;<:.
'A2
<B;AF ".696;4 11?2@@ @.:2 &246@A2?21
<B@20< !! (56@ /B@6;2@@
$D;2? @
6@ 0<;1B0A21 /F . !6:6A21 !6./696AF <:
=.;F (52 ?246@A?.;A 0<::2;021 A< A?.;@
.0A /B@6;2@@ B;12? A52 360A6A6<B@ ;.:2 <?
'64;.AB?2 .C61
;.:2@ ./<C2 <;
!<;605 ".;.42? (56@ @A.A2:2;A D.@ 36921
D6A5 <B;AF 92?8 <3 '<;<:. <B;AF <;
".?05
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ " B@6A5 '2C699. .?06.
2=BAF '2.9
%B/ ".?05
(52 <::B;6AF *<602
$&
& ($ ' $+ )' $&
# $ # "
.@2 #B:/2?
(< .99 6;A2?2@A21 =2?@<;@ %2A6A6<;2? ?.;
1<; 52?F9 '6:=@<; 36921 . =2A6A6<; D6A5
A56@ 0<B?A 3<? . 120?22 05.;46;4 ;.:2@ .@
3<99<D@ ?.;1<; 52?F9 '6:=@<; A< ?.;
1F; 22 '6:=@<;
$)&( $& &' A5.A .99 =2?@<;@ 6;
(
A2?2@A21 6; A56@ :.AA2? @5.99 .==2.? /23<?2
A56@ 0<B?A .A A52 52.?6;4 6;160.A21 /29<D A<
@5<D 0.B@2 63 .;F D5F A52 =2A6A6<; 3<?
05.;42 <3 ;.:2 @5<B91 ;<A /2 4?.;A21
#<A602 <3 2.?6;4 =?69
.A
. : 2=A
'<;<:. <B;AF 'B=2?6<?
<B?A
92C29.;1 C2 '.;A. &<@.
0<=F <3 A56@ $?12? A< '5<D .B@2 @5.99
/2 =B/96@521 <;02 . D228 3<? 3<B? @B002@
@6C2 D228@ =?6<? A< A52 1.A2 @2A 3<? 52.?6;4
<; A52 =2A6A6<; 6; A52 3<99<D6;4 ;2D@=.=2?
<3 42;2?.9 06?0B9.A6<; =?6;A21 6; A56@
0<B;AF (52 <::B;6AF *<602 % $ <E
&<5;2?A %.?8
.A21 ".?05
@ #.;0F '5.332? B142 <3 A52 'B=2?6<?
<B?A
%B/ ".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
'.;A. &<@.
.@ 560.:. %2?BC6.; ?699
C2 '.;A. &<@.
'<;<:.
<B;AF ".696;4 11?2@@
224.; ?
'.;A. &<@.
&246@A2?21
$D;2? @
'A2C2 !<C21.F
691. !<C2
1.F (56@ /B@6;2@@ 6@ 0<;1B0A21 /F . ".?
?621 <B=92 (52 ?246@A?.;A 0<::2;021 A<
A?.;@.0A /B@6;2@@ B;12? A52 360A6A6<B@ ;.:2
<? ;.:2@ ./<C2 <; # '64;.AB?2 'A2C2
!<C21.F $D;2? (56@ @A.A2:2;A D.@ 36921
D6A5 <B;AF 92?8 <3 '<;<:. <B;AF <;
".?05
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ 9:. &<:.;
2=BAF '2.9
=?69
%B/ ".?05
(52 <::B;6AF *<602
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
$91 &21D<<1 DF
.@ +636 +.@5
'B6A2
<A.A6
'<;<:. <B;AF
".696;4 11?2@@
$.8 "2.1<D ?
&246@A2?21
'.;A. &<@.
$D;2? @ (52 ?24 %56==@ <:=.;F ;0
(56@ /B@6;2@@ 6@ 0<;1B0A21 /F .
<?=<
?.A6<; (52 ?246@A?.;A 0<::2;021 A< A?.;@
.0A /B@6;2@@ B;12? A52 360A6A6<B@ ;.:2 <?
;.:2@ ./<C2 <; #
'64;.AB?2 ?24
%56==@ %?2@612;A (56@ @A.A2:2;A D.@ 36921
D6A5 <B;AF 92?8 <3 '<;<:. <B;AF <;
2/?B.?F
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ .??299 !645A
2=BAF '2.9
=?69
%B/ ".?05
(52 <::B;6AF *<602
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
.@ #<A?2 *B2
699C62D &1 +6;1@<? 0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
'<;<:. <B;AF ".696;4 1 <33602
%62? 'A !<;4 2.05
1?2@@
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
&246@A2?21 $D;2? @ +6;1@<? $.8@
F @ " B16A5 '2C699. .?06.
;0 (56@ /B@6;2@@ 6@ 0<;1B0A21 /F . <?
2=BAF '2.9
=<?.A6<; (52 ?246@A?.;A 0<::2;021 A< %B/ ".?05
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
A?.;@.0A /B@6;2@@ B;12? A52 360A6A6<B@ ;.:2 (52 <::B;6AF *<602
692 #<
<? ;.:2@ ./<C2 <;
'64;.AB?2
(52 3<99<D6;4 =2?@<; @ .?2 1<6;4 /B@6;2@@
&</2?A 'A26; %?2@612;A (56@ @A.A2:2;A
6
0
A
6
A
6
<
B
@
B
@
6
;
2
@
@
#
.
:
2
'
A
.
A
2
:
2
;
A
2?A?.;1 !2C.;
.@ !2@ 2992 <996;2@
D.@ 36921 D6A5 <B;AF 92?8 <3 '<;<:.
692 #<
+2@A 699
*699. 292@A2
(699:.;
<B;AF <; 2/?B.?F
(52
3<99<D6;4
=2?@<;
@
.?2
1<6;4
/B@6;2@@
(D< ?.4<;@ '<;<:. 2;05 '<;<:.
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
./2?;2A 6? '.;A.
?2@A %<;A 2 &2C2@
%<;A 2 92B?
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F .@ %.92< E=?2@@
'<;<:. <B;AF ".696;4
&<@.
<B@2 <3 .?1@
6;1@645A
<33602
11?2@@ @.:2 &246@A2?21 $D;2? @ %.92
?.;1 #.A6<;.9
6?0.
9.08
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ " B16A5
;A@
;A 699
:/?<@2
;.A<92
'2C699.
.?06. <<;2 !!
(56@
/B@6;2@@ 6@ 0<;1B0A21
/F
. !6:6A21 !6./696AF <:=.;F (52 ?246@A?.;A
2=BAF '2.9
'=.;6@5 ?2@A
A.96.; ?2@A
+6;
&21 (692
(692 299.?@
0<::2;021
A< A?.;@.0A /B@6;2@@ B;12?
A52 *<69.
%B/ ".?05
&21
&21 (692 *6;2F.?1@
&21 (692
2?F
+6;2 <:=.;F
<A5 .??29@ 299.?@
<A5 .??29@ +6;2?F
<A5 .??29@
<A5 .??29@ +6;2 <:=.;F
*6;2F.?1@
2.91@/B?4 C2
2.91@/B?4
'<;<:. <B;AF ".696;4 .11?2@@
@.:2 &246@A2?21 $D;2? @ %<=0<?; 2
@64; !! (56@ /B@6;2@@ 6@ 0<;1B0A21 /F
!6:6A21 !6./696AF <:=.;F (52 ?246@A?.;A
0<::2;021 A< A?.;@.0A /B@6;2@@ B;12? A52
360A6A6<B@ ;.:2 <? ;.:2@ ./<C2 <; # '64
;.AB?2 .F " 25:82 ".;.42? (56@ @A.A2
:2;A D.@ 36921 D6A5 <B;AF 92?8 <3
'<;<:. <B;AF <; ".?05
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ .??62 ;12?@<;
2=BAF '2.9
%B/ ".?05
=?69
(52 <::B;6AF *<602
&RS\ULJKW‹3X]]OH-XQFWLRQFRP
<; ; . '64;.AB?2 .C61 + .;@<; $D;2?
(56@ @A.A2:2;A D.@ 36921 D6A5 <B;AF 92?8
<3 '<;<:. <B;AF <; 2/?B.?F
52?2/F 02?A63F A5.A A56@ 0<=F 6@ . 0<??20A
0<=F <3 A52 <?646;.9 @A.A2:2;A <; 3692 6; :F
<33602
+6996.: &<B@@2.B '<;<:. <B;AF 92?8
F @ " .??299 !645A
2=BAF '2.9
%B/ ".?05
(52 <::B;6AF *<602
$FURVV
+ROO\ZRRGLQGXVWU\
'HVLVW
%LOO0XUUD\5LFKDUG 'UH\IXVVFRPHG\³:KDW
$ERXWBBB"´
'LVWUHVVVLJQDO
6SHHFKL¿HG
6DQWDBBB&DOLI
9LWDPLQERWWOHLQIR
5LGLQJFURS
,WDOLDQ¶VULGH
&RPPRQWUDYHORSWLRQ ,QDZKLOH
(GLVRQ¶VPLGGOHQDPH 6OLJKWFRORU
0DQKDWWDQDGGLWLRQ
&UDFNHUWRSSHU
'HPHQWHG
$EOXWLRQDU\YHVVHO
:D\WRJR2OG:HVW VW\OH
,QWHQWLRQV
³%RUQ)UHH´OLRQHVV
&RPSDGUHV
7HHQVSRWV"
%LJEDQNDFFRXQW
9DQTXLVKHG
7KXUPDQRI³3XOS
)LFWLRQ´
:DLNLNLZHDU
/LWHUDU\ROLR
$QWDJRQLVW
1HLJKERURI0R
:D\WRVNDWHSDVWWUDI¿F"
([SORVLYHLQLWV
3ODFHIRUDEpUHW
$FWUHVV0D]DURU¿JXUH VNDWHU7KRPDV
2OG0LGHDVWLQLWV
+RWWLPHLQ4XpEHF
0HWDOQHFNULQJ
6RIWPLQHUDO
!% %
$
60A6A6<B@ B@6;2@@ #.:2 'A.A2:2;A
692 #<
#
1<RU*$FLW\
$LUIUHVKHQHURSWLRQ
+DZDLLDQYHUDQGD
1RDK¶VODQGIDOO
6WXPEOH
6KDGHWUHH
+LJKTXDOLW\FLJDU
2OG5RPDQWUDQVSRUW
0DGO\LQORYH
8QUH¿QHG
6XOWDQDWHRQ%RUQHR
:LVHPHQ
1HUR¶VWXWRU
&OXWFK
/DQGXQLW
5HGEHDUGHGJRG
/RQJZD\WRJR"
*DXG\VFDUI
)LVKLQJJHDU
6ZHGLVKVKDJUXJ
.LQGRIVWDWLRQ
4XHU\
2QHRIWKH$OHXWLDQV
&RIIHHRUGHU$EEU
+LQGXLQFDUQDWLRQ
+XQJDURXQG
7UDLOV
BBBUDQ
)ORZ¶VSDUWQHU
6LQJOHPDVWHUWUDQVSRUW
+DUVK
%HOJLDQULYHU
6XJDUFRDW
5RRIRYHUKDQJ
*RVVLSW\SH
.LPRQRVDVKHV
/DUJHFDVNV
%HWZHHQSRUWV
3UHFHGHG
0RXQWDLQSDVV
*XDQDEDUD%D\FLW\
1$6$FRQFHUQ
6SDUNVRQWKHVFUHHQ
# .@ 9<D .@
#.:2 05.;42
#$ %!
$(
S
A
M
E
C
R
A
W
C
U
S
P
A
S
T
I
E
M
E
S
I
S
M
A
D
A
M
E
S
F I
R A
O M
A L E
C
G O N
A
U P A S S
E
C H I
S T A N
T E
W O
H E R
E R E O
T
S A T
H O T T U
I R
S T
R L
O
D O
T R
M P L E
A
A D I
N D S
M
A T O P
E N
W E
T Z G E R
T I O
I
E G A
L
O R K
C A I
A N T
E
C E
R D S
O N E
A R
E
A
B S
E P P
N A I
E
C
Z O O
E U
R S P
T A
D
R
A L D
N D O
O I N
M
O
J
L I
A T
W O
I
N
T
E
R
I
M
O
D
I
N
D
E
M
R O
I
O E
C
H
O
A T H
B O E
A M A I
E R R
E
T A
R T H
O R S O
S O
R
L Y E
T L E
W O L F
A P P A
E S T
D
E
R I
U D I E
M O R R
I S
H E S T
O L E
W L S
A D A P
R E V U
C A I N
C D T
C O
A N O D
N
L A
E V I L
O V A
L E S
G R I
R A T
E
W E
N D I V
O U S E
E T N
I S
T
S O
E R T O
M A I Z
S P R E
T
E
N
E
Y
E
L
E
T
B
E
L
A
S
N
E
E
(< =B/96@5 F<B? 924.9
;<A602@ 6; (52
<::B;6AF *<602 0.99
3,'$:
$3&+
(842$2(3 1)
1+0(35
$3-
15$5,
(00*317(
+(
#- +#(* +' ! ++#&!
%')+! ! ') '& '
32(31-2-917 1%/) %2 %*
*36(%&0) %08)62%8-:) 83 496',%7
-2+ % 7-2+0) *%1-0= ,31) 7
46-')7 '328-29) 83 6-7) -2
3231% 3928= 496',%7-2+ %
03;)6 46-')( '32(3 1%/)7 *36
%2 %886%'8-:) ',3-') -2 49679-2+
,31) 3;2)67,-4
'6)%8-2+ 92-*361-8= %132+78 8,)
92-87 ;-8,-2 8,) '31192-8= 36
8,) '3140)< -2 ;,-', 8,)
3:)67))7 !,-7 -7 ;,= '32(3
1-2-917 8=4-'%00= 033/ 7-1-0%6
83 )%', 38,)6 19', 0-/) %2
%4%681)28 &)'%97) )%', -2(-:-(
9%0 92-8 3;2)6 -7 6)74327-&0) *36
4%=-2+ 8,) 1328,0=
4%=
1)28 ;,-', 8%/)7 '%6)7 3* )2
796-2+ 8,) '3140)<
78%2(%6(->%8-32
% 1328,0= 4%=1)28 (-**)6)2')
4)6 1328, 2 8,-7 )<
3*
%140) 8,%8A7
4)6')28 3* 8,)
,31)3;2)6A7 %773'-%8-32 4%=
1)28
!,) 1378 -14368%28 3* 8,)
*%'836 -2 ()'-(-2+ 83 &9= %
'32(3 -7 /23;-2+ ,3; 19',
8,)
4%=1)28 ,%7 32 =396
6,&- 5(3/4
%&-0-8= 83 &9= -2 8)617 3* 7%0)7
23,0&,2$. ,05(3(45
?
4%=
46-') !,) ,-+,)6 8,)
5$9(4 $0' ,0463$0&( !,-7 -7
1)28 8,) 03;)6 8,) 7%0)7 46-')
%073 =396 838%0 1368+%+) 4%=
,-+,)6 8,) 7%0)7 46-') 03;)6 8,)
1)28 ;,-', -2'09()7 8,) '%66=
,2 ; 10'1 7(3464
4%=1)28
-2+ '3787 %773'-%8)( ;-8,
4,0*.( )$/,.: +1/(
)'%97) 3* 8,) ;)-+,8 32
3;2-2+ % ,31)
!%/) % '32(3 46-')( %8
&9=-2+ %&-0-8= % ,31)3;2)67A
%2( % 7-2+0) *%1-0=
%773'-%8-32 4%=1)28 ,%7 -8
?
+1/(180(34 $441&, ,397) 46-')( %8
97-2+ ;390( %'89%00= '378 136) 32 %
$5,10 &1//10.: 3()(33(' 51
%
=)%6 *-<)( 6%8) 1368+%+) %8 1328,0= &%7-7 *36 % '32(3
5+( /105+.: +1/(180(34< $4
4)6')28 %7791-2+ 8,)
1-2-91 8,%2 % 7-2+0) *%1-0=
41&,$5,10 2$:/(05 %2 &)
(3;2 4%=1)28 -7
+-:)2 8,) 7%1) 7%0)7 46-') )
%2=;,)6) *631
4)6
? 10'1 46-')
'%97) 920-/) 8,) ,397) 8,)
1328, :%6-)7 *631 ,31) 83
03%2 %13928
46-2',31)3;2)67A %773'-%8-32 4%=
,31)
4%0 %2( -28)6)78
4634)68= 1)28 -7 %2 %((-8-32%0 *-<)( '%6
4)6')28 3* 6=-2+ '378 8,%8 *%007 3** 36 +3)7
8%<)7 &%7)( %8
?
23,7$5( /135*$*( ,0 7%0)7 46-')
,%>%6( -2796
%;%= 0-/) %2 %2'-00%6= *)) '%2
463$0&( !,-7 -7 6)59-6)( ;,)2 %2')
4%=1)28
79', %7
'%2 9432 %''919
&9=-2+ % 4634)68= ;-8, 0)77 8,%2
4%=1)28
%2( 8,)
0%8-2+
4)6')28 )59-8=
4)6')28 (3;2 8,-7 -7 %073
838%0 -7
4)6 1328,
*%'836)( -283 8,) 838%0 ! %7 -7
,2 ; 10'1 .1$04
8,) ,31)3;2)67A %773'-%8-32
? ,0*.( )$/,.: +1/( 46-') /$: &145 :16 /13(
4%=1)28
03%2 %13928
32(37 &)'%97) 3* 8,)-6 74)
46-2'-4%0 %2( -28)6)78 '-*-' 690)7 %2( 6)+90%8-327 ;-8,
,2 ; !0'(345$0',0* $
4634)68= 8%<)7 &%7)( %8 %(,)6)2') +9-()0-2)7 %0;%=7
+1/(180(34< $441&,$5,10
4)6')28 3* 7%0)7 46-')
,%:) 8,) ',%2') 3* 34437-8-32
,31)3;2)67 %773'-%8-32 -7
,%>%6( -2796%2')
*631 % (-7+69280)( ,31)3;2)6
% 0)+%0 )28-8= % +3:)62-2+ &3(=
%2( 8,) 838%0 -7
8 -7 59-8) '31132 %773'-%8-327
1%() 94 3* 8,) &3%6( 3* (-6)'
4)6 1328,
,%:) 32+3-2+ 0-8-+%8-32 -779)7
8367 ;,-', '3286307 8,) &9(+)8
*631 (-7+69280)( ,31)3;2)67
3* 8,) '3140)< %2( 36 8,) '31
,2 ; 018 ())(&5 1)
;,-', '%2 438)28-%00= 1%/)
192-8= -2 ;,-', 8,) 4634)68= -7
10 %6:,0* 218(3
&9=-2+ % 92-8 -2 8,%8 '3140)<
03'%8)( !,) %773'-%8-32 ,%7
2 )<',%2+) *36
-2
463&0)1%8-'
74)'-*-' 4634)68= ',%6%'8)6-78-'7 &9=-2+ 43;)6 8,%8 86%270%8)7 83
!,) /)= -7 83 1%/) 796) 8,)
Spreckels Always the Best
Performing Arts Center
1//60,5: "1,&(
#,%8 =396 8%<
6)8962 *36
'%2 (3 *36 =39
4634)68= -7 0)2(%&0) %2( 8,%8
8,)6) -7 23 ;%66%28= -779)7 %773
'-%8)( ;-8, 8,) '3140)< ((8-32%0 ;%66%28= '32')627 8,)
0)2()67 1-+,8 ,%:) '390( -2
:30:) 8,) '3140)< &)-2+ 92;%6
6%28%&0) 83 %22-) %) 36
6)((-) %' 1)%2-2+ 92()0-:
)6%&0) 83 )-8,)6 %+)2'= (9) 83
92*-2-7,)( 92-87 %2( '3780= 0-8+%8-32 78)11-2+ *631 38,)6
4%68-)7 $396 6)%0 )78%8) %+)28
'390( &) &)78 7396') *36 *-2(-2+
398 94 *6328 ;,)8,)6 8,) 4634
)68= =39A6) 033/-2+ %8 -7 0)2(
%&0) 36 238 979%00= -2 0-78-2+
()7'6-48-327
,2 ; 4 5+(
2312(35: $ !
31) '32(37 %6) %'89%00=
40%22)( 92-8 ():)034)( "
;,-', %6) % '6377 &)8;))2 %
'32(3 %2( 7-2+0) *%1-0= ,31)
" 7 ,%:) %01378 -()28-'%0
3;2)67,-4 " 7 ,%:)
8,6)) 92-59) %886-&98)7 8,%8
1%/) 8,)1 % 78632+ %08)62%8-:)
',3-')
4%=1)287 %6) 979%00=
19', 03;)6
" 7 (3 238 2))(
%4463:%0 *631 " 8,) ;%= %
'32(3 (3)7 %/-2 83 *-2%2'-2+ %
7-2+0) *%1-0= ,397) 1)%2-2+
8,) (3;2 4%=1)28 -7 %7 0-880) %7
4)6')28
%2 &) 0%6+) %2( 1-6636 %
7-2+0) *%1-0= ,31) %2( %6)
3*8)2 &9-08 -283 40%22)( '31
192-8-)7 8,%2 -2:30:) '3119
2%0 &)2)*-87 0-/) % 4330 36 %
*%1-0= 4%6/ 3231% 3928= 83
(%8) ,%7 23 1368+%+) " %4
463:)( '32(31-2-91 463.)'87
1)%2-2+ %2
03%2 '%2 &)
97)( 32 8,) " 4634)68=
9=)67 ;390( 78%2( 83 &)2)
*-8 49679-2+ '32(3 ,31)3;2)6
7,-4 -* '32(37 %6) 46-')(
7-+2-*-'%280= 03;)6 8,%2 7-2+0)
*%1-0= ,31)7 79', %7 -2
3231% 3928= 9=-2+ %
'32(3 '%2 &) % 6)%732%&0)
78%68)6 348-32 *36 %''9190%8-2+
,31) )59-8= %2( 94+6%(-2+
0%8)6 32
7 % 8%< 6)*92( '31-2+ =396
;%= * =39 ,%:) %06)%(= 6)
')-:)( =396 6)*92( *36 8,)
8%< =)%6 36 %6) %&398 83 6)')-:)
-8 =39 1-+,8 ;%28 83 8,-2/
%&398 8,) ()78-2= 3* 8,%8 132)=
!,) *3003;-2+ %6) 731) 4377&-0-8-)7
? 5$35 13 $'' 51 $0 (/(3
*(0&: )60' %2= 4)340) (32A8
,%:) % ()(-'%8)( 6%-2= (%=
*92( 320= 8,) 46)79148-32 8,%8
8,)= 1-+,8 ,%:) )239+, '%7, -2
'%7) 3* % *-2%2'-%0 8-+,8 7438
&
#*
5+( /$3-(5
*396 *-+96) 6)
*92( 1%= +-:) =39 8,) '%7, 83
7469') 94 8,) =%6( %2( 36 )<8)
6-36 3* =396 6)7-()2') 6 -8
'390( ,)04 =39 4%= % 463*)7
7-32%0 ;,3 '%2 %77-78 =39 ;-8,
78%+-2+ -8
? 07(45 ,0 :1634(.) $39
'390( 498 8,) 132)= 83;%6( )(
9'%8-32 '%6))6 86%-2-2+ 4)6
732%0 -1463:)1)28 36 731) 7368
3* 4)6732%0 )<4)6-)2') ;-8, 8,)
438)28-%0 83 )2,%2') =396 0-*)
? !4( ,5 )13 $ '180 2$:/(05
10 $ &$3 13 536&- 13 3($. 2312
(35: )%0 4634)68= 6)46)7)287
8,) &)88)6 *-2%2'-%0 ',3-') &98
94(%8-2+ =396 :),-'0) 1%= ,%:)
1)6-8 @ '%67 (3 ;)%6 398 %2(
;,-0) % 869'/ %073 %+)7 -8 '%2
,)04 =39 1%/) 132)=
? /2317( :163 +1/( 8,5+
(0(3*: 4$7,0* $22.,$0&(4 6
;-2(3;7 36 ;)%8,)6 786-44-2+
36 730%6 4%2)07 @ .978 83 2%1) %
*); 348-327
? 3($5( :163 180 )11'
%$0- #,%8 -* % ,966-'%2) 36 %2
)%68,59%/) ,-87 #,)6) ;390(
=396 *33( %2( ;%8)6 '31)
*631 #368, 8,-2/-2+ %&398
? 65 ,5 ,051 $0
13
813-2.$&( 3(5,3(/(05 $&
&1605 * =39 ,%:)2A8 1%<)(
398 =396
8,-7 =)%6 36 ,%:) %
? #3,5( $ 2312(3 8,.. $396
',%2') 83 +)8 %2 )1403=)6
6)*92( '390( 4%= 8,) %88362)=
1%8', ;,= 238
*)) %2( 8,) ;-00 =39 '6)%8)
? (.2 :163 &+,.' 12(0 62 $ 1-+,8 )2( 94 136) -632'0%(
15+
* =396 92()6
? (( $ '1&513 1251/(53,45
732 36 (%9+,8)6 ;-00 )%62 -2
'(05,45 13 2+:4,&$. 5+(3$2,45
'31) 8,-7 =)%6 ,) 36 7,) '%2
* =39 ,%:)2A8 &))2 %&0) 83 7))
$396 ',-0(A7
34)2 % 38,
8,)7) 463*)77-32%07 (9) 83 =396
'3286-&98-32 0-1-8 -7
36
8,) %13928 3* ,-7 36 ,)6 )%62)( -2796%2') 7-89%8-32 36 =396 4)6
732%0 '%7, *03; 8,) 6)*92(
-2'31) *36
;,-',):)6 -7
1-+,8 463:-() % ;%=
03;)6 $39 '%2 %'89%00= 1%/)
8,-7 38,
'3286-&98-32 ;-8,
? ,7( :1634(.) $ '( )$&51
=396 3;2 132)= -* =396 ',-0(
3$,4( (.978 =396 ;-8,,30(-2+
,%7 74)28 ,-7 36 ,)6 )%62-2+7
83 &3378 =396 8%/) ,31) 4%=
? 6: 41/( 8$3(+164(
? ,&- 62 41/( /13( ,0463
/(/%(34+,24 * =39 ,%:) %
$0&( &17(3$*( )13 &+($2
0%6+) *%1-0= 36 3;2 % 71%00
36) %2( 136) %**36(%&0) 34
7)6:-') &97-2)77 ;,= 238 7-+2
8-327 )<-78 *36 -2796-2+ =3967)0*
94 83 7%:) 6)+90%60=
=396 &97-2)77 %2( =396 4634
)68=
? $: '180 '(%5 0;%=7 %
71%68 ',3-')
? $: ,5 )138$3' $396 6)
'++ " $ '& #* $' $ %')+
? 45$%.,4+ $ ),0$0&,$. 453$5 *92( '390( 8962 -283 % ',%6-8%&0)
! ! $ & ) .#+" '- ) *#/ 0 )* (*: 31) *-2%2'-%0 463*)77-32 '3286-&98-32 ()(9'8-&0) 32
' /( )# & " $(#&! ( '($
%07 ;36/ 32 % *)) 320= &%7-7 * =396 *)()6%0 8%< 6)8962 -* =39
(,) " * & ) #& & ()#% )0 =396 8%< 6)*92( -7 79&78%28-%0 -8 -8)1->) ()(9'8-327
) *# & * * '& "'% * &
'390( 4%= 731) 36 %00 8,) *))
#&- *+% &+ ()'( )+# * #*#+ "#% 8,%8 1-+,8 &) ',%6+)( *36 % 6)
%78 =)%6 8,) %:)6%+) *)()6%0
+ ... *'&'% ',&+0%')+
8%< 6)*92( ;%7
!,%8A7 %
:-); 3* =396 '966)28 *-2%2'-%0
! ! * '%
2-') ',92/ 3* ',%2+) @ %2( -8
7-89%8-32 %2( % 40%2 *36 8,) *9
896) ;-8, 23 *968,)6 3&0-+%8-32 '390( &) 97)( 83 &6-2+ 731)
437-8-:) ',%2+) 83 =396 *-2%2
83 =39
'-%0 0-*) %2( 8,) 0-:)7 3* 38,)67
? $: )13 5+$5 53,2 ,0 $'
& #* &
#& & # $
7$0&( 278)%( 3* 6%'/-2+ 94 %
-#*') ()'-#
+"#* )+# $
&-++)6 '6)(-8 '%6( &-00 '327-()6
& ) "
+
46) 4%=-2+ 731) '3787 36 8%/-2+
,)#+# * ' ) +")',!"
%2 %00 -2'097-:) 86-4 731) %6)
#
" $
$&#
%
#& & # $
% )
238 %7 46-')= %7 =39 1-+,8
" '(#&#'&* '
8,-2/
!
#
'
%
!
#% #
+"#* % + )# $ ) ') #& ')%
$ " $
$% % !
+#'& (,)('* * '&$0
? (5 :163 +1/( 3($': )13
,))##+
&)&/#)),
*(054 1) +$0*(
4 &!#+.#
-&
#.&"#+/& )
#,-%#
-,(#0/,
#$$
,**#-!& )
6'<4 6451/ ($54
8,04 $5
(7(05
9(A7 97831 )%87 3* )2
2+63:) 833/ ,31) 7):)2 %;%6(7
%8 8,) %0-*362-% 773'-%8-32 3*
)%8 63')77367
96)( %2(
63')77)( )%87 ,%14-327,-47
%8 ,-'3 8%8) "2-:)67-8=
9(A7 ;%7 +6%2( ',%14-32 -2
8,) '%8)+36-)7 3* ,-'/36=
713/)( 436/ 03-2 ',36->3 %2(
&))* 7911)6 7%97%+)
8 ;%7 6)7)6:)( +6%2( ',%1
4-32 *36 713/)( 74-'= '39286=
0-2/7 %2( 713/)( 896/)= %2(
',%14-32 *36 436/ +%60-'
7%97%+)7 ;-8, .%0%4)23 %2( %68',3/)7 %2( 30( *%7,-32)( &))*
*6%2/*968)67
!,) '314)8-8-32 -7 34)2 83 %00
463')77367 ;,3 %6) 1)1&)67 3*
%0-*362-% 773'-%8-32 3* )%8
63')77367 ;,3 '96)( %2( 713/)
,%17 &%'32 .)6/= %2( 72%'/
78-'/7 %7 ;)00 %7 :%6-397
7%97%+)7
,'&!
)&!
,*#
0.&+#..
"""
%#,*,' . !%),
$&#
,.#* -2
!
) +#/
(
,'&!
#
-,%#,. . !%),
"
!#
!
!#
) +#/
, &)# .#-1&!#.
1 &) )#
- !2
0%" )# 0+,3
#
7LFNHWV2Q6DOH1RZ
$$
'
6Q\GHU/DQH5RKQHUW3DUN
%R[2I¿FH
To Purchase Online go to www.spreckelsonline.com
"
"#
# ! #% $
#
) &$ $$
)
! (
%
)
$%#& %
) $% % !
$"
! $
1 %( $ 2$35 1) 5+,4
($. 45$5(
64,0(44
31)(44,10$. ',3(&513:
$..
!
% $(
D
'#! ! "
"$
"
$ $
" &
"
!0:, 6- (5 4709,E
-(33: 8<0;, ( )0; -3(;
(:; @,(9 >, :(> ( 36; 6- :,
8<,3: (5+ 9,4(2,: *9(:/ (5+
)<95
0:
#/, -09:; )0. :,8<,3 6( /<.,
+0:(7
7605;
4,5;
3(@
05. ;/,
46:; =0
*06<:
(5+ *,9
;(053@
:,?0,:;
5 ( = ( 3
* 6 4
4(5+,9 ,=,9 ;6 90+, ;/, >(=,: 6;/, ,.(5 =( 9,,5 /(: ( 65,
-69 ;/, (.,: :*,5, 05 B
!0:,
6- (5 4709, C 05 >/0*/ :/, +,
*(70;(;,: (5 (+=,9:(9@ >0;/ ;>6
+,-; :>69+ :;962,: ;/,5 /63+05.
/0: /,(+ )@ ;/, /(09 20::,: /04
65 ;/, 46<;/ >0;/ 7605;,+3@ +,
90:0=, /<5.,9
%
$
0=,5 /0: *65+0;065 ;/, 4(5
+6,: 56; 9,:765+
;/,9 ;/(5 -69 ;/, 73,(:<9,
6- >(;*/05. 9,,5 ;9@ ;6 *658<,9
(5*0,5; 9,,*, +9,::,+ (: ( +0:
;(5; -69,),(9,9 6- (;>64(5
469, 0: 3,:: (5+ ( 30;;3, 3(;, 05
;/0: 365. >(0;,+ :,8<,3 ;6 ;/,
690.05(3 )366+)(;/ ;/(; >(: :;@
30:;0*(33@ ,?;9,4, (5+ 1<:; +0--,9
,5; ,56<./ -964 (5@;/05. ,3:, 05
0;: -0,3+ ;6 ),*64, (5 05;,95(
;065(3 (*;065 :,5:(;065
,5;,905. 65 46:;3@ (8<(;0*
)(;;3,: ;/(; /0:;690*(33@ ;662
73(*, :04<3;(5,6<:3@ ;6 ;/, (;
;3, 6- #/,9467@3(, :6 -(5*0-<33@
+,70*;,+ 05 ;/, ,(930,9 -034 ;/0:
-6336> <7 :3(=0:/3@ (+/,9,: ;6
;/, .9(7/0* *640*: 4,,; =0+,6
.(4,: 3662 6- ;/, 690.05(3
3;/6<./ ,9(9+ <;3,9E: :;(9
/(: :0.50-0*(5;3@ -(33,5 +<, ;6 /0:
9,*,5; 4,+06*9, -034: /,E: 4(+,
:05*, B
/,E: 40::,+ /,9,
/0: 9,73(*,4,5; <:;9(30(5 (*;69
#
'
!
# "
( !
#
#
!
%
!
"<330=(5 ";(73,;65 1<:; *(5E; ),3
36> 65 ( 7(9 >0;/ <;3,9 >/6:,
*6*2@ 6=,9 ;/, ;67 ()(5+65 (5+
:;(<5*/ 7/@:0*(3 79,:,5*, 3,(=,
)0. :(5+(3: ;6 -033
$0:<(33@ ;/,9, >(: *3,(93@ (
4(5+(;, ;6 ), 302, ;/, 690.05(3
46=0, 33 ;/, :(4, 0;E: +0:(7
7605;05. ;/(; (-;,9 (33 ;/,:,
@,(9: 56 ,--69; /(: ),,5 4(+, ;6
(<.4,5; 65 ;/(; :;@3,
90.05(3 +09,*;69 '(*2 "5@
+,9 >/6 46=,+ 65 ;6 ;/, "<7,9
4(5 -9(5*/0:, (; %(95,9 96:
;<95,+ ;/, +09,*;05. 9,05: 6=,9 ;6
:9(,30 *644,9*0(3: (*, 6(4
<996 >/6:, 79,=06<: -,(;<9,
>(: ;/,
05+,7,5+,5;
B"4(9; ,673, C
6>,=,9 "5@+,9 :;(@,+
/5CD 9<< .9>5I1B4C
/5CD
/9>5BI
9<< 5<<1BC
?EC5 '6 1B4C /9>5BI
?EC5 '6 1B4C .9>5I1B4C
?EC5 '6
1B4C 5<<1BC
51<4C2EB7 F5
51<4C2EB7
+?>?=1 ?E>DI
%19<9>7 144B5CC C1=5 *579CD5B54
'G>5B C (?@3?B> 5C97> $$ ,89C 2EC9
>5CC 9C 3?>4E3D54 2I $9=9D54 $9129<9DI
?=@1>I ,85 B579CDB1>D 3?==5>354 D?
DB1>C13D 2EC9>5CC E>45B D85 693D9D9?EC >1=5
?B >1=5C 12?F5 ?> & +97>1DEB5 "1I %
58=;5 %1>175B ,89C CD1D5=5>D G1C 69<54
G9D8 ?E>DI <5B; ?6 +?>?=1 ?E>DI ?>
%1B38
! 85B52I 35BD96I D81D D89C 3?@I 9C 1 3?BB53D
3?@I ?6 D85 ?B979>1< CD1D5=5>D ?> 69<5 9> =I
?66935
/9<<91= *?ECC51E +?>?=1 ?E>DI <5B;
I C 1BB5<< $978D
5@EDI +51<
@B9<
(E2 %1B38
,85 ?==E>9DI .?935
?66935
/9<<91= *?ECC51E +?>?=1 ?E>DI <5B;
I C % "E49D8 +5F9<<1 1B391
5@EDI +51<
(E2 %1B38
@B9<
,85 ?==E>9DI .?935
# $
# $
!
(
"
!"
!
!
" !&
$ !
!
(96<5+ ;6 *6 796+<*, (5+ (+(7;
9(52
033,9E: .9(7/0* 56=,3
B&,9?,:C (365. >0;/ 9,;<9505.
*6 :*907;,9 <9; 6/5:;(+
;/,9 ;67 *9,(;0=, 7,9:655,3
(9, +0--,9,5; >/0*/ /(:5E; 79,
=,5;,+ ;/, :,8<,3 -964 :769;05.
;/, :(4, )64)(:;0* :36> 46
;065 )366+ 05 @6<9 -(*, (,:
;/,;0*
(99(;,+ )@ ,5( ,(+,@E:
"7(9;(5 <,,5 69.6 B!0:,C
3662: (; ;/, ,9:0(5 05=(:065 69,,*, 05 ;/, 3(;, :<44,9 6-964 ( +0--,9,5; (5.3,
;/(5 +0+ ;/, 3(5+ )(:,+ B
*65*,5;9(;05. 65 ;/,
:/07
-3,,; ;/(; 05. &,9?,: ,?7,*;,+
>6<3+ /(=, (5 ,(:@ ;04, *65
8<,905. ;/, +0=0+,+ 9,,2:
%/,5 9,,2: >(+, 05;6 )(;;3,
1<4705. -964 :/07 ;6 :/07 ;/,
-034 :307: >(@ 6=,9 05;6 =0+,6
.(4, 46+, (: #/,40:;623,: ;/,
-(;/,9 :65 ;,(4 6- "*@330(: (5+
(30:;6 (5+ 6;/,9: 0473(<:0)3@
*<; ;/96<./ /69+,: 6- 67765,5;:
>0;/ 30;;3, ;96<)3,
69 4<*/ 6- ;/, ;04, ;/,
9,,2: /(=, 3<*2 65 ;/,09 :0+,
(5+ +09,*;69 <996 (5+ /0: ;,(4
*3,(93@ =0:<(30A, /6> 36> *36<+:
(5+ -6. /0+, ;/, :;9(0;: 05;6
>/0*/ ;/, /64, ;,(4 05+<*,: ;/,
05=(+,9: ;6 <5>0;;05.3@ ,5;,9 B!0:,C 796=,: ;6 ), (: :<**,::-<3
65, 69 7,9/(7: ;>6
(: B
-034: *6<3+ -6336> ;/(; >6<3+ ),
:,; 05 ;/, -6336>05. @,(9
>/,5 ;/, <50;,+ 9,,2:
;/0: ;04, >0;/ "7(9;(5 /,37 7<;
(5 ,5+ 65*, (5+ -69 (33 ;6 ,9:0(5
+9,(4: 6- 36*(3 *658<,:; >0;/
:(4, +(@ 3(5+ (5+ :,( =0*;690,:
(; 3(;(,( (5+ @*(3, 9,:7,*
;0=,3@
69, ;/(5 ;/, 690.05(3 0;E:
6-;,5 ,(:@ ;6 ;,33 >/,9, ;/, :4(33
-69,.96<5+ :,;: 6**<70,+ )@ ;/,
(*;69: ,5+ (5+ ;/, +0.0;(33@ *9,
(;,+ )(*2.96<5+: ),.05 %(0; ;6
:,, ;/0: 65 $
93D9D9?EC EC9>5CC &1=5 +D1D5=5>D
9<5 &?
381>75 ?6 >1=5 C8?E<4 >?D 25 7B1>D54
1D
&?D935 ?6 51B9>7 @B9<
1 = 5@D
+?>?=1 ?E>DI +E@5B9?B
?EBD (B?21D5 5F9C9?>
<5F5<1>4
F5 +1>D1 *?C1
3?@I ?6 D89C 'B45B D? +8?G 1EC5 C81<<
25 @E2<9C854 ?>35 1 G55; 6?B 6?EB CE335C
C9F5 G55;C @B9?B D? D85 41D5 C5D 6?B 851B9>7
?> D85 @5D9D9?> 9> D85 6?<<?G9>7 >5GC@1@5B
?6 75>5B1< 39B3E<1D9?> @B9>D54 9> D89C
3?E>DI ,85 ?==E>9DI .?935 ( ' ?H
*?8>5BD (1B;
1D54 %1B38
C &1>3I +81665B "E475 ?6 D85 +E@5B9?B
?EBD
@B9<
(E2 %1B38
,85 ?==E>9DI .?935
#
93D9D9?EC EC9>5CC &1=5 +D1D5=5>D
9<5 &?
,85 6?<<?G9>7 @5BC?> C 1B5 4?9>7 2EC9>5CC
BI B55;
1C <<57B9>9 /9>5C -+
+?>?=1
*?14 51<4C2EB7
?E>DI
*579CD5B54 'G>5B C
" 1<<? /9>5BI
0?C5=9D5 <F4 %?45CD?
1<96?B>91
,89C 2EC9>5CC 9C 3?>4E3D54 2I 1 ?B@?B1
D9?>
,85 B579CDB1>D 3?==5>354 D? DB1>C13D 2EC9
>5CC E>45B D85 693D9D9?EC >1=5 ?B >1=5C
12?F5 &
+ *9381B4 + B5I .935 (B5C945>D 1>4 5>
5B1< ?E>39<
,89C CD1D5=5>D G1C 69<54 G9D8 ?E>DI <5B;
?6 +?>?=1 ?E>DI ?> 52BE1BI
! 85B52I 35BD96I D81D D89C 3?@I 9C 1 3?BB53D
3?@I ?6 D85 ?B979>1< CD1D5=5>D ?> 69<5 9> =I
?66935
/9<<91= *?ECC51E +?>?=1 ?E>DI <5B;
I C 1BB5<< $978D 5@EDI +51<
&+
,
'%%-&!,0 .'!
93D9D9?EC EC9>5CC &1=5 +D1D5=5>D
9<5 &?
,85 6?<<?G9>7 @5BC?> C 1B5 4?9>7 2EC9>5CC
1C
?B?<<1 B9>;C %1793 ??B %1793
??B 5<<1BC
%1793 ??B .9>5I1B4C
%1793 ??B /9>5
%1793 ??B /9>5BI
?=@1>I %5<9CC1 +D13;8?EC5 /9>5C
%5<9CC1 +D13;8?EC5 5<<1BC
/5CD 9<<
!#( -& 1(% &-**-4),' #/5.1-'/!+0 )0 ! #*2% 1- 1(% )$%,1)15 -& ! +20)#
'/-2. 0),' 1(% (),10
!,$
$%#).(%/ 1(% #*2%0 1- ,!+% 1(%
"!,$
93D9D9?EC E C9>5CC &1=5 +D1D5=5>D
9<5 &?
,85 6?<<?G9>7 @5BC?> C 1B5 4?9>7 2EC9>5CC
@
1C <385=9CD 1B= 1>4 1B45>
@91> /1I +521CD?@?<
+?>?=1
?E>DI %19<9>7 44B5CC C1=5 *579CD5B54
'G>5B C
*I1> EF1<
B1>385C13
EF1< ,89C 2EC9>5CC 9C 3?>4E3D54 2I %1B
B954 ?E@<5 ,85 B579CDB1>D 3?==5>354 D?
DB1>C13D 2EC9>5CC E>45B D85 693D9D9?EC >1=5
?B >1=5C 12?F5 ?> > 1 +97>1DEB5 *I1>
EF1< B1>385C31 EF1< ,89C CD1D5=5>D
G1C 69<54 G9D8 ?E>DI <5B; ?6 +?>?=1
?E>DI ?> 52BE1BI
! 85B52I 35BD96I D81D D89C 3?@I 9C 1 3?BB53D
3?@I ?6 D85 ?B979>1< CD1D5=5>D ?> 69<5 9> =I
?66935
/9<<91= *?ECC51E +?>?=1 ?E>DI <5B;
I C "E<95 1B691
5@EDI +51<
@B9<
(E2 %1B38
,85 ?==E>9DI .?935
93D9D9?EC E C9>5CC &1=5 +D1D5=5>D
9<5 &?
,85 6?<<?G9>7 @5BC?> C 1B5 4?9>7 2EC9>5CC
<5F5<1>4 F5
1C .?D5 ,85 ?1CD
+E9D5 +1>D1 *?C1
+?>?=1
?E>DI %19<9>7 44B5CC C1=5 *579CD5B54
'G>5B C ,941< .?935 !>3 ,89C 2EC9>5CC 9C
3?>4E3D54 2I 1 ?B@?B1D9?> ,85 B579CDB1>D
3?==5>354 D? DB1>C13D 2EC9>5CC E>45B D85
693D9D9?EC >1=5 ?B >1=5C 12?F5 ?> > 1 +97
>1DEB5 &93; 1CD?> (B5C945>D ,89C CD1D5
=5>D G1C 69<54 G9D8 ?E>DI <5B; ?6
+?>?=1 ?E>DI ?> 52BE1BI
! 85B52I 35BD96I D81D D89C 3?@I 9C 1 3?BB53D
3?@I ?6 D85 ?B979>1< CD1D5=5>D ?> 69<5 9> =I
'*
* ,' + '/ -+ '*
& ' & %
1C5 &E=25B
,? 1<< 9>D5B5CD54 @5BC?>C
1B?<I>
%3 51D8 1DD?B>5I 6?B D85 (5D9D9?>5B
#B9CD9>1 <9J125D8 9388?<J 69<54 1 @5D9D9?>
G9D8 D89C 3?EBD 6?B 1 453B55 381>79>7
>1=5C 1C 6?<<?GC #B9CD9>1 <9J125D8 938
8?<J D? #1D <9J125D8 +1<94?
,
'-*, '* *+ D81D 1<< @5BC?>C 9>D5B
5CD54 9> D89C =1DD5B C81<< 1@@51B 256?B5 D89C
3?EBD 1D D85 851B9>7 9>4931D54 25<?G D?
C8?G 31EC5 96 1>I G8I D85 @5D9D9?> 6?B
381>75 ?6 >1=5 C8?E<4 >?D 25 7B1>D54
&?D935 ?6 51B9>7 @B9<
1D
1 = 5@D
+?>?=1 ?E>DI +E@5B9?B
?EBD
<5F5<1>4 F5 +1>D1 *?C1
3?@I ?6 D89C 'B45B D? +8?G 1EC5 C81<<
25 @E2<9C854 ?>35 1 G55; 6?B 6?EB CE335C
C9F5 G55;C @B9?B D? D85 41D5 C5D 6?B 851B9>7
?> D85 @5D9D9?> 9> D85 6?<<?G9>7 >5GC@1@5B
?6 75>5B1< 39B3E<1D9?> @B9>D54 9> D89C
3?E>DI ,85 ?==E>9DI .?935 ( ' ?H
*?8>5BD (1B;
1D54 %1B38
C &1>3I +81665B "E475 ?6 D85 +E@5B9?B
?EBD
(E2 %1B38
@B9<
,85 ?==E>9DI .?935
93D9D9?EC EC9>5CC &1=5 +D1D5=5>D
9<5 &?
,85 6?<<?G9>7 @5BC?> C 1B5 4?9>7 2EC9>5CC
1C !>+I>3 'B71>9J9>7
5B>935 F5
+?>?=1 ?E>DI
*?8>5BD (1B;
44B5CC C1=5 *579CD5B54
%19<9>7
$55 >> %1BD9>
%1B71B5D
'G>5B C
?B4 ,89C 2EC9>5CC 9C 3?>4E3D54 2I 1
5>5B1< (1BD>5BC89@ ,85 B579CDB1>D 3?=
=5>354 D? DB1>C13D 2EC9>5CC E>45B D85 693
D9D9?EC >1=5 ?B >1=5C 12?F5 ?> %1B38
+97>1DEB5 $55 >> %1BD9> ,89C CD1D5
=5>D G1C 69<54 G9D8 ?E>DI <5B; ?6
+?>?=1 ?E>DI ?> %1B38
! 85B52I 35BD96I D81D D89C 3?@I 9C 1 3?BB53D
3?@I ?6 D85 ?B979>1< CD1D5=5>D ?> 69<5 9> =I
?66935
/9<<91= *?ECC51E +?>?=1 ?E>DI <5B;
I C 1BB5<< $978D
5@EDI +51<
@B9<
(E2 %1B38
,85 ?==E>9DI .?935
,04%/0
()!,,-,
- -2/
)11*% )%0
3%/54(%/%
4, !5
*%%14--$
! (
! '"( $ $
'*() .$*' #() # )(
%' $'# $)
+ '.$#
( .$*' ()
#) ' () )
')
'
( "$' #+$!+ # #
$ ' ) ,$' ) # )
( "(
'" ' ) "% ' )*' (
)$ ! ))! (%' #
! ## # )
#
$ ".() '. ) (
, ) .$* *# $+ ' #
( %!
# '
+ " ( ' )$$
" #. " # (
!
!$, $,# &* ' *(
$*/+
#) #
$# "$' ) # .$*' '
( ' $' ' )$$ !$#
*!!
# )
) " $*) )$ (" !! )
'$( ( !$+ $#
( ' ( ( ' )
$' $" ( )( # )
$" # )/( *% )$
.$*
$ )$ ' + ) # (
*% *'# .$*' )) #) $#
$*)(
$'
(
# !.( ( $# !* ( #
) ' (*!)( '
# '
!
$# . " . ) )
*) ' ) + ). ( #$)
' ( !$) )$ $ $'
! ))!
# $*)( $
)
$- ( ( #
% .$*' %! #( $#
)'
' ) $# $ ( #$)
- () ($ , . ' .$*
#( () # $# ) ' $
$ *( $# !! ) ) (
# $# , !! ' ) '
) #)
) ) ) (#/)
# %'$ ' (( , !!
"
*# ' ( '*#
($" ) # ( "( $
) %'$ !. (
# # ( # '.
!%( # $! ' #
! #+ ) ) " $+ '
$' ! ))!
! ' ) $#
" " '
'
) $ ( '$*#
$" ( '$*#
' *! $, .$*
%'$
' #
(* '(
# # !
( )
*) ) (
$#!. ) "%$' '.
( *'*( $*
%! .
! ))! )$$ '
# ) !"$() $() .$*
" )$ (, ) ) ) (
# )
#)! '
%%'$
$* ,$#/)
! + , )
)' #(% ' (
! (
$'% $ $*
! $*) $% )$ )
+ '. #
*) ) , (#/)
" #) )$
$#/)
,$''. $*) )
#$) ' $%%$')*# ).
, !! ' (
'$" #
)( *%
$+ !$(($"( #
(% ) $ ) $ ( #
.$* "
) !!
%% #
"#
+ .$*'( ! % )
$# )
#
#( $'
'(
%
$
)) ' *(
)'*) # !!.
$" ( $*) # #$)
+ '.$# ( %! (
$* #/) "
+ '.$#
%%. #$,
# .$*
$$
#(% ' (
$
!*$!&
* *+ 2579> 85B5 K 5D
1@@B?F54 F91D9?> %19>D5>1>35 ,538>9
391> DB19>9>7
$$ F91D9?> !>CD9DED5
AE1<96954 CDE45>DC
?6 %19>D5>1>35
1< + &
*!. *+
$ DB19> 1>4 G?B; 6?B EC
(B?65CC9?>1< 6?3EC54 $ DB19>9>7 1F19<
12<5 8??C5
'@5B1D?B ?B $51C5 ,B19>5B 1<<
GGG 5>DB1<,BE3;9>7"?2C 3?= 1<
+ &
',* B9F5BC &55454 6?B +?<? ,51= (?
C9D9?>C %94G5CD 1>4 /5CD ?1CD DB16693
<1>5C ?=@5D9D9F5
+165DI (B?4E3D9F9DI !>35>D9F5C ?>C9CD5>D
1< + &
%9<5C 1<<
%
$#
$925B1D9?> 2I =5B931> +D1>41B4 /1<; !>
1D8 ?>LD +DBE77<5 5DD9>7
'ED '6 &?B=1< 1D8DE2 +D1I 9> I?EB
8?=5 <?>75B C165<I
9>45@5>45>D<I $925B1D9?> /1<; !> 1D8C
?==5>454 2I D85 BD8B9D9C
?E>41D9?> 5CD $965D9=5 /1BB1>DI 9> D85
9>4ECDBI I4B?D85B1@I
,85 6?<<?G9>7 @5BC?> C 1B5 4?9>7 2EC9>5CC
,?144
1C ,?44 *?14 >D5B@B9C5C
+?>?=1
*4 +1>D1 *?C1
?E>DI %19<9>7 44B5CC
(9>5 +D ,89B4
<??B +1> B1>39C3?
*579CD5B54
'G>5B C
,8?=1C " B1>49 ,BECD55
1B?< + B1>49 ,BECD55 ,89C 2EC9>5CC 9C
3?>4E3D54 2I 1 ,BECD ,85 B579CDB1>D 3?=
=5>354 D? DB1>C13D 2EC9>5CC E>45B D85 693
D9D9?EC >1=5 ?B >1=5C 12?F5 ?> 52BEB1BI
+97>1DEB5 ,8?=1C " B1>49
,BECD55 ?6 D85 B1>49 1=9<I ,BECD ,89C
CD1D5=5>D G1C 69<54 G9D8 ?E>DI <5B; ?6
+?>?=1 ?E>DI ?> %1B38
! 85B52I 35BD96I D81D D89C 3?@I 9C 1 3?BB53D
3?@I ?6 D85 ?B979>1< CD1D5=5>D ?> 69<5 9> =I
?66935
/9<<91= *?ECC51E +?>?=1 ?E>DI <5B;
I C 1BB5<< $978D
5@EDI +51<
@B9<
(E2 %1B38
,85 ?==E>9DI .?935
93D9D9?EC EC9>5CC &1=5 +D1D5=5>D
9<5 &?
,85 6?<<?G9>7 @5BC?> C 1B5 4?9>7 2EC9>5CC
(5D1<E=1 <F4 +
1C *. (1DC
+?>?=1 ?E>DI %19<
(5D1<E=1
(5D1<E=1
9>7 44B5CC ( ' ?H
*579CD5B54 'G>5B C %9;5LC *. 1>4
%1B9>5 !>3 ,89C 2EC9>5CC 9C 3?>4E3D54 2I
1 ?B@?B1D9?> ,85 B579CDB1>D 3?==5>354
D? DB1>C13D 2EC9>5CC E>45B D85 693D9D9?EC
>1=5 ?B >1=5C 12?F5 ?> %1B38
+97>1DEB5 %93815< BC5>1E<D
' ,89C
CD1D5=5>D G1C 69<54 G9D8 ?E>DI <5B; ?6
+?>?=1 ?E>DI ?> %1B38
! 85B52I 35BD96I D81D D89C 3?@I 9C 1 3?BB53D
3?@I ?6 D85 ?B979>1< CD1D5=5>D ?> 69<5 9> =I
?66935
/9<<91= *?ECC51E +?>?=1 ?E>DI <5B;
I C <=1 *?=1>
5@EDI +51<
@B9<
(E2 %1B38
,85 ?==E>9DI .?935
'*
* ,' + '/ -+ '*
& ' & %
1C5 &E=25B
,? 1<< 9>D5B5CD54 @5BC?>C (5D9D9?>5B
8B9CD?@85B %
93;3?H 69<54 1 @5D9D9?>
G9D8 D89C 3?EBD 6?B 1 453B55 381>79>7
>1=5C 1C 6?<<?GC 8B9CD?@85B %93815<
>75< 93;3?H D? 8B9CD?@85B %93815<
>75<
,
'-*, '* *+ D81D 1<< @5BC?>C 9>D5B
5CD54 9> D89C =1DD5B C81<< 1@@51B 256?B5 D89C
3?EBD 1D D85 851B9>7 9>4931D54 25<?G D?
C8?G 31EC5 96 1>I G8I D85 @5D9D9?> 6?B
8B?=1D85B1@I B?=1D85B1@I >? 5HDB1
3?CD !>CD1<<1D9?> !>3<E454 5D
, , - .5BC5 6?B :ECD
=? -& $
+ . G9D8 , ,
!>D5B>5D (8?>5 ,. 1>4 75D 1 * @B5
@194 .9C1 1B4 C5<53D @<1>C
-**0
$$ &'/
1<
+ &
,,& B9F5BC
051BC ?6 +D129<9DI -@ D?
3@= )E1<9DI ?=5D9=5
G55;<I
$ *5ABE9B54
GGG 14 4B9F5BC 3?= 1<
+ &
'-,+! + $ + K ( , , K /?B; 6B?=
8?=5 %1;5 I?EB ?G> C3854E<5
?==9CC9?> 1C54 (B?7B1= +5<6 +D1BD5B
%?D9F1D54 H@5B95>35 9>
4F5BD9C9>7 +1<5C 1 @<EC +5>4 *5CE=5 D?
3535<91 3>@1 3?= ?B 61H
&? @8?>5 31<<C @<51C5 1<
+ &
* - 0'-*
$ !$$ 5D 1> <<
979D1< +1D5<<9D5 CICD5= 9>CD1<<54 6?B
* 1>4 @B?7B1==9>7 CD1BD9>7 1D
=? *
.* E@7B145 6?B
>5G 31<<5BC +' $$ &'/
1< + &
*!. *+
$ DB19> 1>4 G?B; 6?B EC
(B?65CC9?>1< 6?3EC54 $ DB19>9>7
1F19<12<5 8??C5 ?=@1>I B9F5B 'G>5B
* "
1 2
-*,(' . '* ,#('
-*,(' . '-
(, ',# % * '+ * (
('(&
3 4
93D9D9?EC EC9>5CC &1=5 +D1D5=5>D
9<5 &?
,85 6?<<?G9>7 @5BC?> C 1B5 4?9>7 2EC9>5CC
1C <51> >5B7I 'ED69DD5BC
?I4 +D
+1>D1 *?C1
+?>?=1 ?E>DI
44B5CC C1=5 *579CD5B54
%19<9>7
'G>5B C *?25BD #1=9>C;I ,89C 2EC9>5CC
9C 3?>4E3D54 2I 1> !>49F94E1< ,85 B579C
DB1>D 3?==5>354 D? DB1>C13D 2EC9>5CC
E>45B D85 693D9D9?EC >1=5 ?B >1=5C 12?F5
?>
+97>1DEB5 *?25BD #1=9>C;I
,89C CD1D5=5>D G1C 69<54 G9D8 ?E>DI <5B;
?6 +?>?=1 ?E>DI ?> %1B38
! 85B52I 35BD96I D81D D89C 3?@I 9C 1 3?BB53D
3?@I ?6 D85 ?B979>1< CD1D5=5>D ?> 69<5 9> =I
?66935
/9<<91= *?ECC51E +?>?=1 ?E>DI <5B;
I C 1BB95 >45BC?>
5@EDI +51<
@B9<
(E2 %1B38
,85 ?==E>9DI .?935
93D9D9?EC EC9>5CC &1=5 +D1D5=5>D
9<5 &?
,85 6?<<?G9>7 @5BC?> C 1B5 4?9>7 2EC9>5CC
1C ECD?= /9>5 (B?4E3DC 3?=
1@@I $> +?>?=1
+?>?=1
?E>DI %19<9>7 44B5CC C1=5 *579CD5B54
'G>5B C *?475B 54971> ,89C 2EC9>5CC
9C 3?>4E3D54 2I 1> !>49F94E1< ,85 B579C
DB1>D 3?==5>354 D? DB1>C13D 2EC9>5CC
E>45B D85 693D9D9?EC >1=5 ?B >1=5C 12?F5
?> > 1 +97>1DEB5 *?475B 54971> 'G>5B
,89C CD1D5=5>D G1C 69<54 G9D8 ?E>DI <5B;
?6 +?>?=1 ?E>DI ?> %1B38
! 85B52I 35BD96I D81D D89C 3?@I 9C 1 3?BB53D
3?@I ?6 D85 ?B979>1< CD1D5=5>D ?> 69<5 9> =I
?66935
/9<<91= *?ECC51E +?>?=1 ?E>DI <5B;
I C <=1 *?=1>
5@EDI +51<
@B9<
(E2 %1B38
,85 ?==E>9DI .?935
'@5B1D?B $51C5 '@5B1D?B ?B
$51C5 ,B19>5B 1<<
GGG 5>DB1<,BE3;9>7"?2C 3?=
+ &
1<
B9F5BC &55454 6?B +?<? ,51= (?C9
D9?>C %94G5CD 1>4 /5CD ?1CD
DB16693 <1>5C ?=@5D9D9F5 @1I CC97>54
#5>G?BD8C
+165DI (B?4E3D9F9DI !>35>D9F5C ?>C9CD5>D
%9<5C 1<<
1<
+ &
'& , 0'-* * K 1CD B55 ,?G9>7
8B *5C@?>C5 ,1H 54E3D9?>
* +, & * '-& ,!'&
-&!,
(B?F949>7 B55 %1==?7B1=C
B51CD 1>35B !>6?
1<
+ &
!+ ,. *5D19<5B +D1BD9>7 1D
=?>D8
6?B =?C
978 +@554
=?>D8 G85B5
!>D5B>5D CD1BD9>7 1D
1F19<12<5 + .
C; 2?ED
+ %
0 !>CD1<<1D9?>
$$ &?G
1< + &
* - 0'-*
$ !$$ 5D 1 G8?<5
8?=5 +1D5<<9D5 CICD5= 9>CD1<<54 1D
&' '+, 1>4 @B?7B1==9>7 CD1BD9>7 1D
=? *
.* -@7B145
D? >5G 31<<5BC +' $$ &'/
1< +31>
', *
,#(' (-+ +
*(& #,0 ( ("' *, *$ ,(
(-',0 (&&-'#,0 . %()& ', (&&#++#('
$! %/3 *" *$)!-/ -& %. *).% !-%)# /$! /- )."!- *" "%1! $*0.!. %/ *2). %) /$!
! /%*) *" /$!
%/3 /* /$! *)*( *0)/3 *((0)%/3 !1!'*+(!)/ *((%..%*)
$! %/3 ,0%-! /$!.! +-*+!-/%!. %)
4
"*- ""*- '! $*0.%)# +0-+*.!. $!
2*0' %) *-+*- /! /$!.! +-*+!-/%!. %)/* /$! -* !- +*-/"*'%* *" ""*- '! $*0.%)# /$ / %/ '-! 3
( ) #!.
" #. )*() *,# + * , ," (%%(/#'!
* ++ +
!1!-'3 -%1!
-!// 1!)0!
0-/*) 1!)0!
0-/*) 1!)0!
)/
- - -%1!
/$! *((%//!! *) /$! $!'/!-'!.. *+!- /! /- ).%/%*) ' $*0.%)# +-*#- ( %) /$!.!
$*0.!. 0) !- *)/- / /* /$! %/3 "*- ( )3 3! -. 0)/%' /$! !) *"
$!3 $ 1! )*2 +-*+*.!
/* ( ) #! /$! $*(!. . +!-( )!)/ .$ -! $*0.%)# "*- '%!)/. .0 !.."0''3 *(+'!/%)# /$!%- '%"!
.&%''. +-*#- (.
$! %/3 ) /$!
2 )/ /* $! - "-*( /$! )!%#$ *-. *" /$!.! +-*+!-/%!. -!# - %)# +*..% '!
'/!-) /%1!. "*- 0.%)# /$! $*0.!. !-.*))!' "-*( /$! %/3 /$!
)
2%'' ( &!
.$*-/ +-!.!)/ /%*) ) *''! / +0 '% %)+0/
*%/%*) ' %)"*-( /%*) +'! .! *)/ / -%'3) *)/*) *" /$! %/3 *"
*$)!-/ -& /
*- *)/*) -+ %/3 *-# *- % & /!2 -/ *" /$!
/
*- )% & ./!2 -/ .*)*( *0)/3 *-#
/%!+0
!#
"
!
"
# # ' ').
, ) ' "%,( '%#
()' )( )% ' !(
" % %')*$ )' + " $ '%
%()
'). * " $ )( )
'%,
- )
' )%$ (%')
( $% + $) $) ' *() %*)(
% $ ') '!
)' + " $
& (% ( % ) " + ( %$/( %
# ( %,
%*) ) *& %# $ )'.%*)( " %+ ' ) , ! $ ) )
() , ( ) ' )% $ &%) $) " %$) () $)( %' *& %# $
$
" )
%..4270 /*6. *7- /8;=>7.
%& *"( & !
( $% %' ( %)
) # ( %,
B 2;* ;8-B
E 8A !//2,. 2= F ,;2.<
*=1B 87 =1. ,858;/>5 )1..5 8/
8;=>7. <=*0. 8>; 8=1.; 189.
/>5 ,87=.<=*7=< <=*7- +.<2-. 1.;
7.A= =8 =1. /*6252*; +5>. +8*;8/ 5.==.;< 52= @2=1 1.; ,8;;.,= *7
<@.; &1. )1..5 8/ 8;=>7.
)1..568+25. @*< 27 =8@7 =12<
@..4.7- 27<92;270 1>7-;.-< 8/
9.895. =8 527. >9 8>=<2-. =1.
;*=87 *<278 ?.7=< .7=.;
/8; * ,1*7,. =8 <927 =1. 2,872,
@1..5
7 =1.2;
/88= )277.+*08
=.5.?2<287G< 8 0*6. <18@
=8>;< =1. ,8>7=;B 185-270 =;B
8>=< /8; 98=.7=2*5 ,87=.<=*7=<
*7- /8>7- =26. =8 ?2<2= =1.
,*<278 =12< 9*<= %*=>;-*B *7%>7-*B ,;.*=270 * 527. 8/ 189.
/>5< @18 <7*4.- *;8>7- =1.
+>25-270G< 27=.;28; )2=1 <18@<
*= 7887
9 6 *7- 9 6
<=*// 6.6+.;< @8>5- -;*@ /2?.
7*6.< *= * =26. /;86 =18<. @18
1*- .7=.;.- =1.2; 7*6.< =8
,86. >9 87 <=*0. *7- 95*B
*=1B #>*==;27 *7- 1.;
/;2.7- %*;* *;-7.; *;. +8=1
8=*=2 58,*5< *7- @8;4 =80.=1.;
*= 2;.6*7G< >7- 7<>;*7,. 27
8?*=8 *=1B @*< 87. 8/ =1.
=1*= F <*B< 8-B @18 ,*6. >9
/;86 ".=*5>6* /8; =1. -*B @2=1
1.; /;2.7- .52<<*
*B5. @18 -;8?. -8@7 /;86
12,8 @2=1 * /;2.7- @8>5- ><.
1.; @277270< =8 1.59 1.; /*625B
8>= 2/ <1. @.;. =8 @27 )1..5 8/
8;=>7.
87=.<=*7=< ,87<2<=.- 8/ ,85
5.0. <=>-.7=< 0;*->*=.< *7@8;4.;< /;86 ?*;28>< ,8>7=2.<
*55 +;8>01= =80.=1.; 27 =1.
189.< 8/ @277270 * 52==5. .A=;*
687.B
E G?. +..7 @*=,1270 @1..5 8/
/8;=>7. <27,. @*< ;.*55B
B8>70 F ,866.7=< %*7-;* *
.*7G< *<<2<=*7= *= %8786*
%=*=. '72?.;<2=B
E&12< 1*< -./272=.5B +..7 *
+>,4.= 52<= 2=.6 /8; 6. /8; *
"
. ' % $) %
&%( ( , )
' % ' *)%*) %
) @125. F <*B< ?*7 ->;270 12< 87
! ))
" % %')*$ )'.%*)( " ) )
+ $) $) ' ) <=*0. 27=.;?2.@ E G?. +..7
)
( $% %$ )*' . $ *$ .
)' + " $
() , ( $ )%,$ @*=,1270 =12< <18@ /8;.?.; &8
.?.;B87. @18 -8.<7G= =1274
)% $ &%) $) " %$) () $)( %' *& %# $ & (% (
$
" ) =1.BG55 0.= 92,4.- <*B B8>
7.?.; 478@ F
7*6.< -;*@7 ->;270 %*=>;-*BG< 9;2C. ;.*55B F
/=.; =1. )1..568+25. 2< /27
9 6 <18@ *7- 189.< =8 +.
!7 <=*0. .*,1 ,87=.<=*7=
2<1.- =8>;270 =1. <=*=. =1. 9.8
92,4.- *< * <18@ ,87=.<=*7=
@*< +;2./5B 27=.;?2.@.- *795. =1.B +.52.?. @255 +. =1. +.<=
E G- @*7= =1. =;29 F <*B< %*;* =884 =>;7< 0>.<<270 5.==.;< >7=25 ,87=.<=*7=< +*<.- 87 =1.2; <=*0.
87 @1*= <1. @8>5- @*7= =8 @27 <86.87. @*< *+5. =8 <85?. =1.
9.;/8;6*7,. @255 ;.,.2?. * 5.=
2/ <1. @.;. =8 6*4. 2= 87=8 =1.
@277270 91;*<. ";2C.< 27,5>-.- =.; 27 =1. 6*25 27?2=270 =1.6 =8 *
<18@ E G?. 08= * 42- G6 * <27 = <12;=< ->//5. +*0< 9.7< *7<.,87- ;8>7- 8/ *>-2=287<
05. 686 <8 * ?*,*=287 @8>54.B ,1*27< >= /8; 6*7B =1.
<86.@1.;. 27 8;=1.;7 *52/8;
+. ;.*55B 72,. F
;.*5 9;2C. @*< =1. 8998;=>72=B
72* %86.=26. 27 />=>;.
E&8 @27 F .A,5*26< *=1B
=8 +. 87 =.5.?2<287
.92<8-.< 8/ )1..5 8/ 8;=>7.
%8786* 8>7=B 6*B 1*?. =1.
@1.7 *<4.- @1*= =1. 68<= .A
E *5@*B< 7..- 6B
627
,2=270 =1270 *+8>= +.270 87 =1.
>.=< 8/ /*6. =1274 0.==270 87 ,1*7,. =8 <.. <86. 8/ =1.2; 8@7
87 &(
0*6. <18@ @8>5- +. E 7B
&( @8>5- -./272=.5B />5/255
B 8;.<= ;*<2.>;
8<= 9.895. 1*?. 1.*;- =1.
<580*7 E875B ;*27 -8@7 =1.
-;*27F 8; 1*?. <..7 -.,*5< 7.*;
<=8;6 -;*27 275.=< @2=1 =1.
@8;-< E-;*27< =8 ,;..4 78
->69270F 87 =1.6 7- @.
478@ @1*= * @87-.;/>5 .7?2
;876.7= @. 1*?. 27 %8786*
*7- .7-8,278 8>7=2.< D 8>;
;2?.;< *7- ,;..4< *;. * 6*38;
9*;= 8/ @1*= 2< <8 0;.*= *+8>=
52?270 1.;.
< B8> 08 *+8>= B8>; -*25B
=*<4< *= @8;4 *7- 186. B8>
@*7= =8 -8 @1*=G< ;201= =8 9;8
=.,= 8>; .7?2;876.7= +>= <86.
=26.< 2= <..6< 68;. ,87?.72.7=
=8 8?.;5884 =1. ;.<987<2+5. *,
=287 8; 3><= =*4. * <18;=,>= =
6*B <..6 .*<B =8 3><= ,5.*7 *
9*27= +;><1 8; ;855.; @2=1 * 18<.
27=8 =1. <=;..= 0>==.; 8; 275.=
;*=1.; =1*7 27=8 =1. <274 /=.;
*55 2=G< 3><= * 52==5. 9*27= !;
@1.7 ,8695.=270 =1. ;.95*,.
6.7= 8/ * 98;=287 8/ * -;2?.@*B
B8> 6201= +. =.69=.- =8 18<.
8// =1. .A,.<< ,87,;.=. 27=8 =1.
7.*;+B <=8;6 -;*27 275.= D @1*=
.5<. ,*7 B8> -8 @2=1 2= .= <
<*B =1. *;.* *;8>7- =1. ->69
<=.; 8; 0*;+*0. ,*7 2< 0.==270 *
52==5. -2;=B <8 @1B 78= * :>2,4
;27<. @2=1 * 18<. =8 ,5.*7 2= >9
= 08.< =8 * =;.*=6.7= 95*7=
-8.<7G= 2= &1.<. *;. *55 .A*6
95.< 8/ 18@ @*<=. ,*7 .7- 27
8>; ,;..4<
7 68<= ,*<.< 9.895. ,*7
*?82- 9855>=270 ,;..4< @2=1
=1.2; @*<=. +B /8558@270 088+*<2, 18><.4..9270 9;*,=2,.<
<<.7=2*55B -8270 @1*= @.
5.*;7.- *< 42-< E"2,4 >9 */=.;
B8>;<.5/ *7- 9>= =1270< @1.;.
=1.B +.5870 F %8 =8 1.59 9;8=.,=
8>; ,;..4< =1. 2=B 8/ %*7=*
$8<* 27 ,873>7,=287 @2=1 =1.
$><<2*7 $2?.; )*=.;<1.- <<8
,2*=287 $$) 1*< -.?.589.52<=< 8/ =1.<. <2695. 18><.4..9
270 9;*,=2,.< 78@ ,*55.- .<=
*7*0.6.7= ";*,=2,.< 8;
"< /8; * ?*;2.=B 8/ 186.
*7- @8;495*,. ,*=.08;2.<
&8 *,,.<< =12< ;.<8>;,. 08 =8
@@@ <;,2=B 8;0 9855>=2879;.
?.7=287 52,4 87 =1. ";.?.7=
270 "855>=287 *= )8;4 +>==87
*7- /27- * 9*0. @2=1
,*=.
08;2.< 8/ +><27.<<.< =1*= *;. =1.
<8>;,.< /8; 6*7B 8/ =1. 9855>
=*7=< =1*= ;.*,1 8>; ,;..4<
52,4 87 =1. ";.?.7=270 "855>
=287 *= 86. +>==87 *7- /27- *
9*0. @2=1 ,*=.08;2.< 8/
18><. @8;4 =1*= ,*7 5.*- =8
,;..4 9855>=287 *,1 ,*=.08;B
1*< * +>55.= 52<= 8/ 38+ />7,=287<
=1*= <18@ <2695. 6.=18-< =8
,87=;85 @*<=. *7- <9255< *718@ =8 -2<98<. 8/ =1.6 5<8 87
=1. 9*0. *;. 9187. ,87=*,=< /8;
=1. 2=B 8/ %*7=* $8<* * /.@
;.<8>;,. 5274< *7- * "
?.;
<287 =8 <*?. 8; +. 9;27=.- &1.;.
2< *5<8 * 52<= 8/ ,8>7=B *7- ,2=B
,87=*,=< /8; .7-8,278 *7%8786* ,8>7=2.<
?.;B -*B @. ,*7 *,= =8 9;8
=.,= 58,*5 ,;..4< +B 9;.?.7=270
<=8;6 @*=.; 9855>=287 27 8>;
186.< B*;-< *7- +><27.<<.<
8846*;4 =12< @.+<2=. *7- ><.
2= *< * ;.<8>;,. /8; 18@ =8
<*/.5B ><. *7- -2<98<. 8/ 6*=.
;2*5< =1*= ,*7 9855>=. ,;..4< *7@*=.;@*B< 8; * /.@ +><27.<<
,*=.08;2.< =1. 27/8;6*=287 2<
<=255 +.270 -.?.589.- <8 ,1.,4
+*,4 D *--2=287*5 27/8;6*=287
@255 +. *--.- 8?.; =26.
)1B *;. =1.<.
"< 2698;
=*7=
$*27@*=.; /;86 <=8;6<
@*=.; /;86 *7 2;;20*=287 +;.*4
8; *7 >7*==.7-.- 18<. ,*7 92,4
>9 1*;6/>5 9855>=*7=< /;86
<=;..=< 9*;4270 58=< -;2?.@*B<
*7- B*;-< *7- ,*;;B 2= -2;.,=5B
27=8 8>; ,;..4< 5*4.< =1. $><<
2*7 $2?.; *7- >5=26*=.5B =1. "*
,2/2, !,.*7
%=8;6 @*=.; -8.< 78= 08 =8
*7B =;.*=6.7= 95*7= 7<=.*- 2=
/58@< =1;8>01 =1. <=8;6 -;*27
<B<=.6 >7=;.*=.- 27=8 8>;
,;..4< *7- @*=.;@*B< )*=.;
=1*= -8.< >7-.;08 =;.*=6.7= 2<
@*=.; =1*= 08.< -8@7 * <274
=825.= *7 825 @*=.; <.9*;*=8; 8;
*78=1.; 27<2-. -;*27 &12< @*=.;
/58@< =8 =1. <.@*0. =;.*=6.7=
95*7= 27 * ,855.,=287 <B<=.6 =1*=
2< <.9*;*=. /;86 <=8;6 @*=.;
7 <86. *;.*< ,;..4< *;. =1.
5*<= E@25-F 95*,.< @1.;. 1*+2=*=
1*< 78= +..7 *5=.;.- 8; -.
<=;8B.- ;..4< *5<8 9;8?2-.
,8;;2-8;< ,877.,=270 8=1.; ><
*+5. 1*+2=*= /8; @25-52/. 7 *5
2/8;72*
9.;,.7= 8/ 8>;
*6912+2*7 <9.,2.< *79.;
,.7= 8/ ;.9=25. <9.,2.< ;.5B 87
,;..4 <2-. 1*+2=*= /8; <>;?2?*5
%86. 8/ 8>; ,;..4< *;.
1.*5=1B +>= 6*7B 8=1.;< *;.
78= *7- *55 58,*5 ,;..4< +.7./2=
/;86 9;8=.,=287 %201=270< 8/
@25-52/. <>,1 *< ;2?.; 8==.;< *7.0;.=< ;.627- >< =1*= @. 52?.
*7- ;.,;.*=. *5870 ,;..4< =1*=
*;. 9*;= 8/ * 5*;0.; .,8<B<=.6
*7- =1*= @. *;. .*,1 ;.<987<2
+5. /8; =1. ,*;. 8/ =1. ,;..4 7.=
@8;4 &1. 1.*5=1 8/ 1>6*7
,866>72=2.< -.9.7-< 87 =1.
1.*5=1 8/ =1. <>;;8>7-270 7*=>
;*5 .7?2;876.7=
( ') " , ( *) %'
.
%' () ' ( *' % )
). %
$) %( %$
" %
,
,,, '', ) '(
%' (
$ ((% ) %$ % "% " &* "
$ ( $)
*(( $ + '
) '(
) ) + %# )%
) ' )% %%' $ ) ' %$ "
&'% ' #( %' " $ , ) ' (
' ( ' ()%' ) %$ $ , ) '
(
$ $ # $)
Don’t Let
Uncle Sam
Pick Your Pocket Again
Plan Now for next year.
Call for a free half-hour consultation.
swww.mayclincpa.com
) ' -"%
#
!&''"%
%+ )
.&&
&+ +"
.0
&.%+&.% &+ +"
' ) (, )
'
- "# #
&&+
"% - "# #
/ - "# #
,"+
*
*
,"+
*
*
*+ ,) %+
&&
(,"'$ %+
,"+
*
*
,"+
*
*
,"+
*
*