Chemie außer Kontrolle Chemicals out of control

Transcription

Chemie außer Kontrolle
Das systematische Versagen der
EU-Chemikalienpolitik in den letzten 20 Jahren.
Mit zehn Fallstudien
Chemicals out of control
Chemie
The systematic failure of
EU chemicals policy in the last 20 years.
With ten case studies
Chemicals out of control
The systematic failure of
EU chemicals policy in the last 20 years
Commissioned by Greenpeace Germany
Editor: Greenpeace Germany (Greenpeace e.V)., Große Elbstr. 39, 22767 Hamburg, Germany, Tel. ++49 (0)40/306 18-0, Fax ++49 (0)40/306 18-100, Email:
mail@greenpeace.de, Political Berlin Unit, Chausseestr. 131, 10115 Berlin, Germany, Tel. ++49 (0)30/30 88 99-0, Fax ++49 (0)30/30 88 99-30, Internet:
www.greenpeace.de; Authors: Andreas Ahrens and Kerstin Heitmann, Ökopol GmbH, Hamburg; Person responsible under German press law/V.i.S.d.P.:
Manfred Krautter, Greenpeace Germany; Titel pictures: Hewetson/GP, C. Piecha/GP, G. Gilabert/GP; Printers: edp, Virchowstr. 12, 22767 Hamburg, Germany;
Production numbers: 200; Date June 2003; Printed on 100% recycled papers.
!"#$%&'(#)%"*
*
#$"%&'($)"*++!,"-./"01"2344(%%(3$"&567(%./8"(-%"9.(-/":;&/'"3$".3<"(-"/$=(%;)/%"-./"$/<"
%-';-/)>"3$"?./4(?;7%"($"-./"@5-5'/A"B./"?3'/"3@"(-%"&'3&3%;7%";'/";(4/8";-")(=($)"/C5;7"%-;-5%"
-3" ;77" ($85%-'(;7" ?./4(?;7%" 3$" -./" 4;'D/-" '/);'87/%%" 3@" <./$" -./>" </'/" @('%-" &7;?/8" 3$" -./"
4;'D/-A" B.5%" ($85%-'>" <(77" 6/" 367()/8" -3" @(77" -./" .5)/" 8;-;" ;$8" ;%%/%%4/$-" );&%" '/7;-/8" -3"
%56%-;$?/%"<.(?."</'/"&7;?/8"3$"-./"4;'D/-"6/@3'/"!EF!A"B./%/"%56%-;$?/%";'/"-./"%3"?;77/8"
G/H(%-($)"%56%-;$?/%G";$8"%-(77";??35$-"@3'"43'/"-.;$"E+I"3@"-./"?5''/$-"4;'D/-A"9./$"-./"01"
?./4(?;7%" 7/)(%7;-(3$" /$-/'/8" ($-3" @3'?/" ($" -./" /;'7>" F+%," -./" /H(%-($)" %56%-;$?/%" ;$8" -./('"
&'385?/'%J(4&3'-/'%" </'/" /H/4&-/8" @'34" %34/" 3@" -./" D/>" ($@3'4;-(3$" '/C5('/4/$-%A" #$" -./"
/;'7>" E+%," -./" ;5-.3'(-(/%" %-;'-/8" ;" &'3)';4" -3" ;%%/%%" &'(3'(->" /H(%-($)" ?./4(?;7%" ($%-/;8A"
K3</=/'" -./" &'3)';4" @;(7/8" 85/" -3" 7;?D" 3@" 8;-;," =/'>" -(4/" ?3$%54($)" &'3?/85'/%" ;$8" -./"
%.//'";435$-"3@"<3'D"-3"6/"83$/A""""""
B./"?5''/$-"&'3&3%;7%";(4"-3"%.(@-"-./"'/%&3$%(6(7(->"@3'"8;-;"?377/?-(3$";$8";%%/%%4/$-"@'34"
-./";5-.3'(-(/%"-3"-';8/";$8"($85%-'>A"B./>"($?758/"'/)(%-/'($)"3@";77"?./4(?;7%"3$"-./"4;'D/-"
($" ;435$-%" /H?//8($)" 3$/" -3$$/" &/'" 4;$5@;?-5'/'," ;$8" ;" %-/&" 6>" %-/&" ;%%/%%4/$-" 3@" -./%/"
?./4(?;7%" 6>" -./" ;5-.3'(-(/%A" L5'-./'43'/," -./" 5%/" 3@" =/'>" .;M;'835%" %56%-;$?/%" <(77" ($"
)/$/';7" 6/" &'/=/$-/8," ;7-.35)." ($" %34/" ?;%/%" ;5-.3'(%;-(3$" @3'" ?3$-($5/8" 5%/" ($" ?7/;'7>N
8/@($/8";&&7(?;-(3$%"?;$"6/")(=/$"3'"&/'4(--/8"@3'"7(4(-/8"&/'(38%"3@"-(4/A"B./"2344(%%(3$"
@5'-./'"/$=(%;)/%"(-%"@5-5'/"?./4(?;7%"&37(?>"6/($)"3'(/$-/8"3$"-./"&'/?;5-(3$;'>"&'($?(&7/";$8"
-./"%56%-(-5-(3$"3@".;M;'835%"%56%-;$?/%"6>"$3$".;M;'835%";7-/'$;-(=/%A"""
"
#-"(%"$3-">/-";-";77"?7/;'"-3"<.;-"/H-/$-"-./"2344(%%(3$O%"&'3&3%;7%"<(77"($"&';?-(?/"'/%57-"($";$"
;?-5;7" '/85?-(3$" 3@" '(%D%" @'34" ?./4(?;7%A" B.(%" %-58>" ;(4%" -3" (775%-';-/" -./" &'/%/$-" &'367/4%"
-.'35)."/H;4&7/%"3@".;M;'835%"%56%-;$?/%"-.;-";'/"<(8/7>"5%/8"($"?3$%54/'"&'385?-%"3'"-./"
3&/$" /$=('3$4/$-A" B./" $/<" 01" ?./4(?;7%" &37(?>" ;$8" (-%" (4&7/4/$-;-(3$" 6>" -./" P/46/'"
Q-;-/%" <(77" .;=/" -3" 6/" 4/;%5'/8" 6>" <./-./'" (-" '/;77>" 83/%" ?.;$)/" -./" ;?-5;7" 6/.;=(35'" 3@"
&'385?/'%";$8"($85%-'(;7"5%/'%"3@"%56%-;$?/%A"""
"
B./"%-58>"&5-%"%&/?(;7"</().-"3$"=(%5;7(%($)"-./"&'367/4%";$8"-./"?3$$/?-(3$%"6/-<//$"-./4,"
-.5%"?'/;-($)";"6/--/'"6;%(%"@3'"&567(?"8(%?5%%(3$A""
"
B./"%-58>"(%"%568(=(8/8"($-3";"&;'-"8/;7($)"<(-."?./4(?;7%"&37(?>"R?.;&-/'%"!";$8"*S";$8";"&;'-"
<(-." 8/-;(7/8" ;??35$-%" 3@" %56%-;$?/" R?.;&-/'" TS," ($" <.(?." /$=('3$4/$-;7" 8;-;" ;$8" 4;'D/-"
($@3'4;-(3$"3$"-./"-/$"%56%-;$?/%"%/7/?-/8".;%"6//$"%>%-/4;-(?;77>"?34&(7/8A"
"
B./"4;($"&;'-"3@"-./"%-58>")(=/%";$";??35$-"3@"@(=/"->&/%"3@"&'385?-%";$8"-./"'/7;-/8"&'367/4%"
@3'" -./" /$=('3$4/$-" ;$8" ./;7-.A" B./" %35'?/%" 3@" -./" 8;-;" ;'/" 4;($7>" -./" RU';@-S" V(%D"
W%%/%%4/$-" V/&3'-%" ($" -./" 01X%" !"#$%#&'( )*+$%,&-.$( /01'0,22.," YQ:WV" Z;?D)'35$8"
U3?54/$-%" 3$" ?/'-;($" %56%-;$?/%," -./" 01" 2344(%%(3$O%" Q-58>" 3$" -./" :'(3'(-(%;-(3$" 3@"
Q56%-;$?/%"U;$)/'35%"-3"-./"WC5;-(?"0$=('3$4/$-"R2YPP:Q":'3?/85'/S";$8"-./"&'3&3%/8"
0$=('3$4/$-;7"[5;7(->"Q-;$8;'8%"R0[QS"@3'"&'(3'(->"%56%-;$?/%"5$8/'"-./"9;-/'"L';4/<3'D"
U('/?-(=/A"B./%/"83?54/$-%"($?758/";$"/=;75;-(3$"3@"-./";=;(7;67/"($@3'4;-(3$"@'34"=;'(35%"
%35'?/%";$8" ./$?/" </'/"'/);'8/8";")338"%35'?/" @3'" -./"?5''/$-" <3'DA"B./"/4(%%(3$"8;-;" 3$"
'/7/;%/8";435$-%" 3@" %56%-;$?/%" ;'/"=/'>" '35)." <3'%-" ?;%/"/%-(4;-/%" R438/77($)" 6;%/8S" <(-."
.()."5$?/'-;($->,"%($?/"4/;%5'/8"8;-;";'/"3@-/$"$3-";=;(7;67/A"B./%/"8;-;";'/"43%-7>"6;%/8"3$"
-./";=;(7;67/"R8';@-S"01"V(%D"W%%/%%4/$-%A"B./"8;-;"3$"%56%-;$?/"?3$?/$-';-(3$%"R4/;%5'/8S"
($8(?;-/" ;" ->&(?;7" 05'3&/;$" &3775-(3$" 7/=/7" ($" -./" E+%" ';-./'" -.;$" 73?;7" &/;D" ?3$?/$-';-(3$%A"
L3'";77"%56%-;$?/%"%/7/?-/8"($"-.(%"'/&3'-,"-./";%%/%%4/$-"&'3?/%%/%";-"05'3&/;$"7/=/7";'/"%-(77"
3$)3($),";$8"./$?/"-./"8;-;"5%/8"4;>"&;'-7>"$//8"'/=(%(3$"3'"5&8;-($)"($"@5-5'/A"
"
!"
B./" %56%/C5/$-" ?.;&-/'%" ;$;7>%/" -./" /?3$34(?," 7/);7" ;$8" &37(-(?;7" '/;%3$%" ?;5%($)" ?3$-'37"
3=/'"4;$>"($85%-'(;7"?./4(?;7%"-3".;=/"6//$"73%-"($"-./"7;%-"@/<"8/?;8/%A"Z;%/8"3$"-.(%"?;%/%,"
(-"4;>"6/"&3%%(67/"-3"8';<"?3$?75%(3$%"'/7;-/8"-3"-./"?'5?(;7"(%%5/%"($"-./"$/<"01"?./4(?;7%"
&37(?>A"
*
"
*"
*+',,-$.*%/*0%"(1'2)%"2*
"
W77"!+"%56%-;$?/%"3'")'35&%"3@"%56%-;$?/%"%/7/?-/8"@3'"-.(%"%-58>";'/"&'385?/8"($,"3'"(4&3'-/8"
-3" -./" 05'3&/;$" 1$(3$" ($" .()." =3754/%" R\" !+++" -J;S" 6>" 7/;8($)" ($-/'$;-(3$;7" ?./4(?;7"
?34&;$(/%A" W-" -./" %;4/" -(4/," ;77" .;=/" ;7'/;8>" 6//$" (8/$-(@(/8" ;%" .;M;'835%" %56%-;$?/%"
'/C5('($)" &'(3'(->" ;?-(3$" 5$8/'" YQ:WVO%" Q-';-/)>" <(-." '/);'8" -3" K;M;'835%" Q56%-;$?/%" R-3"
/$%5'/" &'3-/?-(3$" 3@" -./" 4;'($/" /$=('3$4/$-S," ($?758($)" -./" 3=/';'?.($)" 36]/?-(=/" 3@"
;?.(/=($)"?/%%;-(3$"3@";77"/$=('3$4/$-;7"'/7/;%/%"6>"*+*+A""
"
Z;%/8" 3$" -./" !+" ?;%/%," %34/" D/>" ?3$?75%(3$%" ?;$" 6/" 8';<$" '/7/=;$-" ($" -./" ?3$-/H-" 3@" -./"
?5''/$-"8/6;-/"<(-."'/);'8"-3";"$/<"?./4(?;7%"&37(?>"($"05'3&/A""
"
!! #$";77"!+"?;%/%"/H;4($/8"-./'/"<;%";")'/;-"7;?D"3@"8;-;"3$";=;(7;67/"%56%-;$?/"&'3&/'-(/%A"
#$";88(-(3$"-./");&%"($"($@3'4;-(3$"'/7;-/8"-3"5%/"&;--/'$%"3@"?./4(?;7%"($"05'3&/";'/";-"
7/;%-" ;%" )'/;-" ;%" -./" 7;?D" 3@" 8;-;" 3$" %56%-;$?/" &'3&/'-(/%A" B.(%" &'/%/$-%" ;88(-(3$;7"
&'367/4%," $3-" 7/;%-" ($" 8/-/'4($($)" -./" %35'?/%" 3@" )'/;-/%-" /H&3%5'/" ;$8" ($" @57@(77($)" -./"
&567(?O%"'().-"-3"D$3<";$8";6(7(->"-3"4;D/"($@3'4/8"8/?(%(3$%"'/);'8($)"&'385?-%A"*
!! #$" ;77" !+"?;%/%" -./"05'3&/;$" U;-;"Z;%/" 3$" /H(%-($)" %56%-;$?/%" R#12^#US" <;%" 5$;67/" -3"
&'3=(8/"5&N-3N8;-/"($@3'4;-(3$"3$"<.3"&7;?/%"-./"%56%-;$?/"3$"-./"05'3&/;$"4;'D/-A"B.(%"
7;?D" 3@" -';$%&;'/$?>" 4;D/%" (-" /;%>" -3" ?3$-($5/" -./" &'385?-(3$" 3'" (4&3'-" 3@" .;M;'835%"
%56%-;$?/%"<(-.35-"-./"'(%D"3@"6/($)"C5/%-(3$/8"6>";5-.3'(-(/%"3'"-./"&567(?A"*
!! W77" 3@" -./" -/$" %56%-;$?/%" R3'" )'35&%" 3@" %56%-;$?/%S" &'/%/$-" %()$(@(?;$-" .;M;'8" " -3" -./"
/$=('3$4/$-";$8".54;$"./;7-.";%";"'/%57-"3@"-./('"($-'($%(?"&'3&/'-(/%""U/%&(-/"-.(%,"-./>"
'/4;($"($"<(8/%&'/;8"5%/,"3@-/$"($".()."&'385?-(3$"=3754/%";$8"($";&&7(?;-(3$%"7/;8($)"-3"
8('/?-".54;$"/H&3%5'/";$8J3'"3$)3($)"'/7/;%/"-3"-./"/$=('3$4/$-A*
!! #$" %/=/$" 3@" -./" -/$" ?;%/%," -./%/" .;M;'835%" %56%-;$?/%" ;'/" 5%/8" ($" ?3$%54/'" &'385?-%,"
&'3=(8($)";"8('/?-"'35-/"@3'".54;$"/H&3%5'/,"-.'35)."-./"%D($"3'"6>"($.;7;-(3$"3'"($)/%-(3$"
R/A)A"U0K:"($":_2"&'385?-%,"45%D"?34&35$8%"($"?3%4/-(?%,"$3$>7&./$37N?34&35$8%"($"
@338N&;?D;)($),"BZBJUZB"($"-/H-(7/"&'385?-%SA*
!! #$"$3$/"3@"-./"!+"?;%/%"83/%"(-"%//4"&3%%(67/"-3"/$%5'/"GM/'3"'/7/;%/G"3@"?./4(?;7%"@'34"
&'385?-%,"3'"/=/$"@'34"%3N?;77/8"G?73%/8"733&G"($85%-'(;7"%>%-/4%A""B./"43%-"/@@/?-(=/"<;>""
-3" &'/=/$-" /H&3%5'/" -3" -./%/" .;M;'835%" ?./4(?;7%," -./'/@3'/," (%" -3" /$%5'/" -.;-" -./>" ;'/"
%56%-(-5-/8"<(-."7/%%".;M;'835%,"3'"&'/@/';67>"$3$N.;M;'835%,";7-/'$;-(=/%A""B.(%"(%"-./"6/%-"
<;>"-3"/$%5'/";"G.()."7/=/7"3@"&'3-/?-(3$"@3'"-./"/$=('3$4/$-";$8".54;$"./;7-.GA"*
!! B./";)'(?57-5';7"&37(?>"($"-./"01"P/46/'"Q-;-/%,"-./"'/)57;-(3$";$8"&';?-(?/"3@"&/%-(?(8/"
;5-.3'(%;-(3$";$8"-./"%5&/'=(%(3$"3@"5%/"6>";5-.3'(-(/%".;=/"$3-"&'/=/$-/8"&/%-(?(8/%"@'34"
3??5''($)"($"@338,"'(=/'%,")'35$8<;-/'";$8"/=/$"-./"3&/$"%/;A*
!! 23$-;4($;-(3$"3@"<;-/',"%/8(4/$-%"3'"-./"638>"-(%%5/"3@".54;$%";$8";$(4;7%"R($?758($)"
6'/;%-N4(7DS"85/"-3"'/7/;%/%"3@".;M;'835%"?./4(?;7%"(%";"<(8/%&'/;8"&'367/4,"65-"%3"@;'"$3"
?34&;$(/%".;=/"6//$"./78"7(;67/"@3'"-.(%A""B./'/"(%"?5''/$-7>"$3"@3'4;7"<;>"-3"6'($)"%5?."
7(;6(7(->"?;%/%,";$8"-.(%"$//8%"-3"6/";88'/%%/8"5')/$-7>"<(-.($"-./"01A""W-"-./"%;4/"-(4/,"
-./'/" (%" ($;8/C5;-/" '/)57;-3'>" ;?-(3$" ;$8" &'/%%5'/" -3" '/C5('/," @;?(7(-;-/" ;$8" /$%5'/" -.;-"
.;M;'835%"?./4(?;7%";'/"%56%-(-5-/8"($";"?34&'/./$%(=/,"-(4/7>";$8"/@@/?-(=/"<;>A"*
!! Q/'(35%";$8"73$)N-/'4"/$=('3$4/$-;7";$8".54;$"./;7-."(4&;?-%"?;$"'/%57-"$3-"3$7>"@'34"
?./4(?;7%"<(-.":ZB"&'3&/'-(/%A""2./4(?;7%"&3%%/%%($)"3$7>"%34/"3@"-./%/"&'3&/'-(/%"?;$"
)(=/" '(%/" -3" ;$" /C5(=;7/$-" ?3$?/'$," @3'" /H;4&7/" (@" -./>" ;'/" .().7>" &/'%(%-/$-" ;$8"
6(3;??5457;-(=/";73$/"3'";%";"'/%57-"3@"?3$-($535%".()."=3754/"5%/";$8"'/7/;%/A*
!! B./"?34&'/./$%(=/"%56%-;$?/N6>N%56%-;$?/";%%/%%4/$-"6>"-./";5-.3'(-(/%,";%"'/C5('/8"6>"
?5''/$-" 01" 7/)(%7;-(3$," -;D/%" ;" =/'>" 73$)" -(4/" ;$8" .;%" 3@-/$" 8/7;>/8" ;?-(3$" 6>" %/=/';7"
"
T"
>/;'%A""P3'/3=/',"-./'/";'/"4;$>"/H;4&7/%"3@"($;&&'3&'(;-/"'/&7;?/4/$-"3@"3$/".;M;'835%"
%56%-;$?/"<(-.";$3-./'"R/A)A"%56%-(-5-(3$"3@"$(-'3N45%D"?34&35$8%"<(-."&37>?>?7(?"45%D"
?34&35$8%a" %56%-(-5-(3$" 3@" %.3'-" ?.;($" ?.73'($;-/8" &;';@@($%" bQ22:c" 6>" 4/8(54" ?.;($"
?.73'($;-/8"&;';@@($%"bP22:cS";%"-./'/".;%"6//$")'/;-/'"@3?5%"3$"/$87/%%";%%/%%4/$-"-.;$"
3$"(8/$-(@(?;-(3$";$8"8/=/73&4/$-"3@"$3$N.;M;'835%"%56%-(-5-/%A*
!! #$"@(=/"3@"-./"!+"?;%/%"4/-;637(-/%";'/"43'/"-3H(?"-.;$"-./"4;'D/-/8"%56%-;$?/"(-%/7@"R/A)A"
$3$>7&./$37" /-.3H>7;-/%" 6(38/)';8/8" -3" $3$>7&./$37," 8(5'3$" 6(38/)';8/8" -3" T,`"
8(?.73';$(7($/SA"#-"?;$"6/"/H&/?-/8"-.;-"%5?."/@@/?-%"4;>"3??5'"@3'"4;$>"3-./'"?./4(?;7%"
;%"</77"%($?/"4;$>"?5''/$-7>"5%/8"?./4(?;7%";'/"$3-"'/;8(7>"6(38/)';8;67/";$8"-./'/";'/"
3$7>"@/<"%>%-/4;-(?"%-58(/%";=;(7;67/"3$"&3%%(67/"8/)';8;-(3$"&'385?-%AA*
!! d/(-./'" /H(%-($)" ?./4(?;7" '/)57;-(3$%" $3'" =375$-;'>" ;?-(3$%" 6>" ($85%-'>" .;=/" %3" @;'"
4;$;)/8" -3" 6'($)" ?./4(?;7%" 5$8/'" ?3$-'37A" " W?-(3$" 6>" -./" &567(?" ($" /$?35';)($)" ;$8"
/$@3'?($)"4;'D/-"%56%-(-5-(3$"3@".;M;'835%"?./4(?;7%"(%")'/;-7>"7(4(-/8"6>"&33'";??/%%"-3"
($@3'4;-(3$" 3$" ?./4(?;7" .;M;'8%" ;$8" -./" 5%/" 3@" ?./4(?;7%" ($" &'385?-%" ;$8J3'" -./('"
&'385?-(3$"&'3?/%%/%A*
*
B./%/" /H;4&7/%" %.3<" -./" 5')/$-" $//8" @3'" -./" $/<" ?./4(?;7%" 7/)(%7;-(3$" ?5''/$-7>" 5$8/'"
8/=/73&4/$-" <(-.($" 05'3&/" -3" 6/" %-'3$)," -(4/7>" ;$8" /@@/?-(=/" ($" ;88'/%%($)" .;M;'835%"
?./4(?;7%," #&%.0( ,3#," 6>" /$%5'($)" ;$" 367();-(3$" @3'" -./" &'385?/'%J(4&3'-/'%" 3@" ?./4(?;7%" -3"
'/)(%-/'," ;$8" 8/7(=/'" %5@@(?(/$-" 8;-;" @3'" ;" &'3&/'" .;M;'8" ;%%/%%4/$-" @3'," ;77" %56%-;$?/%"
&'385?/8"3'"&7;?/8"3$"-./"4;'D/-"R$3"8;-;,"$3"4;'D/-SA"
"
#-"45%-"6/"%-'/%%/8"-.;-"-.(%"%-58>"8';<%"($@3'4;-(3$"&'(4;'(7>"@'34"83?54/$-%";=;(7;67/"3'"
%-(77"5$8/'"8/=/73&4/$-"<(-.($"-./"?5''/$-"01"%>%-/4"3@"?./4(?;7";%%/%%4/$-,"($?758($)"8';@-"
'(%D";%%/%%4/$-%"<.(?."4;>"6/"%56]/?-"-3"@5'-./'"'/=(%(3$A""B.(%".;%"6//$"$/?/%%;'>"($"3'8/'"
-3"%544;'(%/"-./"43%-"'/?/$-"($@3'4;-(3$";=;(7;67/"-3";%%/%%3'%";$8"8/?(%(3$N4;D/'%"<(-.($"
-./"01,";$8"-3".().7().-"%34/"3@"-./"@5$8;4/$-;7"8;-;");&%"<.(?."$/=/'-./7/%%"/H(%-"($"-./%/"
83%%(/'%" ;$8" -./" ;%%54&-(3$%" <.(?." .;=/" -./'/@3'/" 6//$" 4;8/" ($" 3'8/'" -3" ?;''>" 01"
;%%/%%4/$-%"@3'<;'8A""0=/$"@3'"-./"</77"D$3<$".;M;'835%"%56%-;$?/%"5%/8";%"?;%/"/H;4&7/%"
($" -.(%" %-58>," 45?." 3@" -./" ($@3'4;-(3$" 3$" &'385?-(3$," 5%/" &;--/'$%" ;$8" /$=('3$4/$-;7"
?3$?/$-';-(3$%"(%"%56]/?-"-3"7;')/"5$?/'-;$-(/%A""B.(%"(%"$3-";"@;(7($)"3@"-./"8/%()$"3@"-.(%"%-58>"
65-"';-./'";"?3$%/C5/$?/"3@"-./"7(4(-;-(3$%"-3"D$3<7/8)/"<.(?.";'/"($./'/$-"-3"-./"5$8/'7>($)"
01";%%/%%4/$-%";$8"3-./'"8;-;"%35'?/%,"($"-5'$";"%>4&-34"3@"-./"@;(75'/"3@"?5''/$-"?./4(?;7"
?3$-'37%A""
""
"
"
`"
*+chl'ssfolgerungen
"
"
U(/"!+"Q-3@@/"38/'"Q-3@@)'5&&/$,"8(/"f/)/$%-;$8"8(/%/'"Q-58(/"%($8,"</'8/$"($"8/'"
05'3&g(%?./$"1$(3$"=3$"@h.'/$8/$"($-/'$;-(3$;7/$"2./4(/5$-/'$/.4/$"($")'3i/$"P/$)/$"
R\!+++"-J;S"./')/%-/77-"38/'"(4&3'-(/'-A"#4"V;.4/$"8/'"YQ:WVNQ-';-/)(/"RY%73":;'(%"
23$=/$-(3$S"M54"Q?.5-M"8/'"P//'/%54</7-"=3'")/@g.'7(?./$"Q-3@@/$"<5'8/"@h'"8(/%/"
Q56%-;$M/$"=3'';$)()/'"K;$875$)%6/8;'@"@/%-)/%-/77-A"0'D7g'-/%"YQ:WVNj(/7"(%-"/%,"8;%%"
%g4-7(?./"04(%%(3$/$"8(/%/'"Q-3@@/"($"8(/"14</7-"6(%"M54"k;.'/"*+*+"6//$8/-"</'8/$A"
"
Lh'"8(/"7;5@/$8/"U/6;--/"54"/($"$/5/%"/5'3&g(%?./%"2./4(D;7(/$'/?.-"Dl$$/$"m";5%)/./$8"
=3$"8(/%/$"!+"Lg77/$"N"/($()/")'5$87/)/$8/"Q?.7h%%/")/M3)/$"</'8/$n"
"
!! #$";77/$"!+"5$-/'%5?.-/$"Lg77/$");6"/%")'3i/"U;-/$7h?D/$,"$(?.-"$5'"(4"K($67(?D";5@"8(/"
0()/$%?.;@-/$"8/'"Q-3@@/"%3$8/'$"($%6/%3$8/'/";5?.".($%(?.-7(?."(.'/'"_/'</$85$)A""
U(/%/"#$@3'4;-(3$%7h?D/$"/'%?.</'/$"8(/"#8/$-(@(M(/'5$)"8/'"</%/$-7(?./$"
04(%%(3$%C5/77/$,"6/.($8/'$"_/'6';5?./'($@3'4;-(3$%'/?.-/"5$8"/'%?.</'/$"
o;5@/$-%?./(85$)/$";5@"8/'"Z;%(%";$)/4/%%/$/'":'385D-($@3'4;-(3$A"
!! #$";77/$"!+"Lg77/$"<;'"8(/"/5'3&g(%?./"Q-3@@8;-/$6;$D"#12^#U"$(?.-"($"8/'"^;)/,";D-5/77/"
#$@3'4;-(3$/$"8;'h6/'"M5"7(/@/'$,"</7?./"1$-/'$/.4/$"8(/"Q-3@@/";5@"8/$"/5'3&g(%?./$"
P;'D-"6'($)/$A"U(/%/'"P;$)/7";$"B';$%&;'/$M"4;?.-"/%"/($@;?.,"5$)/%-l'-"=3$"Z/.l'8/$"
38/'"p@@/$-7(?.D/(-"</(-/'.($")/@g.'7(?./"2./4(D;7(/$"M5"&'385M(/'/$"38/'"M5"
(4&3'-(/'/$A"
!! W77/"!+"Q56%-;$M/$"R38/'"Q56%-;$M)'5&&/$S"%($8,";5@)'5$8"(.'/'""0()/$%?.;@-/$"6/%3$8/'%"
)/@g.'7(?."@h'"14</7-"5$8"f/%5$8./(-A"U/$$3?."%($8"%(/"$;?."<(/"=3'"($"f/6';5?.,"
.g5@()"($".3./$":'385D-(3$%4/$)/$"5$8"($"W$</$85$)/$,"8(/"M5'"8('/D-/$"Z/7;%-5$)"=3$"
P/$%?."5$8"14</7-""@h.'/$A"
!! #$"%(/6/$"8/'"!+"Lg77/"</'8/$"8(/")/@g.'7(?./$"Q-3@@/"M5'"K/'%-/775$)"=3$";77-g)7(?./$"
o3$%54&'385D-/$"/($)/%/-M-A"Q(/"@($8/$"%3"h6/'"K;5-,"W-/4</)/"38/'"
d;.'5$)%;5@$;.4/"(.'/$"9/)"($"8/$"4/$%?.7(?./$"ol'&/'"RMAZA"U0K:"($":_2N
:'385D-/$,"P3%?.5%=/'6($85$)/$"($"o3%4/-(D;,"d3$>7&./$37N_/'6($85$)/$"($"
^/6/$%4(--/7N_/'&;?D5$)/$,"BZBJUZB"($"B/H-(7(/$SA"
!! #$"D/($/4"8/'"!+"Lg77/"%?./($-"/%"4l)7(?.,"/($/"qd577N04(%%(3$r"8/%"]/</(7()/$"Q-3@@/%"
;5%":'385D-/$"38/'";5%"%3")/$;$$-/$"q)/%?.73%%/$/$"o'/(%7g5@/$r"($"#$85%-'(/NW$7;)/$"
M5")/<g.'7/(%-/$A"U/'"/@@/D-(=%-/"9/),"54"8/$"0($-';)")/@g.'7(?./'"Q-3@@/"($"8(/"14</7-"
M5"=/'.($8/'$"(%-"8;./',"%(/"85'?."</$()/'")/@g.'7(?./"38/'"5$)/@g.'7(?./"W7-/'$;-(=/$"M5"
/'%/-M/$A"Q3"D;$$"/($".3./%"Q?.5-M$(=/;5"@h'"8(/"14</7-"5$8"8(/"4/$%?.7(?./"
f/%5$8./(-"/''/(?.-"</'8/$A"
!! U(/"^;$8<('-%?.;@-%&37(-(D"($"8/$"01NP(-)7(/8%7g$8/'$"5$8"8(/"V/)57(/'5$)%N""5$8"
s6/'<;?.5$)%6/.l'8/$"<;'/$"6(%7;$)"$(?.-"($"8/'"^;)/,":/%-(M(8/";5%"d;.'5$)%4(--/7$,"
;5%"8/$"L7h%%/$,"8/4"f'5$8<;%%/'"5$8"8/4"3@@/$/$"P//'"@/'$"M5".;7-/$A"
!! U(/"_/'5$'/($()5$)"=3$"f/<g%%/'$,"Zl8/$"38/'"P/$%?./$"5$8"B(/'/$"R($D7A"
P5--/'4(7?.S"85'?."@'/()/%/-M-/,")/@g.'7(?./"2./4(D;7(/$"(%-"/($"</(-"=/'6'/(-/-/%"
:'367/4A"U/$$3?."45%%-/"%(?."6(%./'"D/($"1$-/'$/.4/$"8;@h'"=/';$-<3'-/$A"Lh'"%37?./"
Lg77/")(6-"/%"8/'M/(-"D/($/"K;@-5$)%'/)/75$)A"f7/(?.M/(-()"%?.;@@-";5?."8/'")/)/$<g'-()/"
3'8$5$)%'/?.-7(?./"V;.4/$"M5"</$()"P3-(=;-(3$,")/@g.'7(?./"Q-3@@/"'/?.-M/(-()"5$8"
/@@/D-(="M5"%56%-(-5(/'/$A"
!! 0'$%-/"5$8"7;$)@'(%-()/"L37)/$"@h'"14</7-"5$8"f/%5$8./(-"Dl$$/$"$(?.-"$5'"=3$"
2./4(D;7(/$"4(-":ZBN0()/$%?.;@-/$"R&/'%(%-/$-,"6(3;DD5457;-(=,"-3H(%?.S"=/'5'%;?.-"
</'8/$A"W5?."Q-3@@/,"8(/"$(?.-";77/"8(/%/"0()/$%?.;@-/$")7/(?.M/(-()"6/%(-M/$,"Dl$$/$"
W$7;i"M5'"Q3')/")/6/$A"Z/(%&(/7%</(%/,"</$$"%(/"%/.'"%?.</'";66;56;'"5$8"%/.'"
"
e"
6(3;DD5457;-(="R;6/'"$(?.-"-3H(%?.S""%($8"38/'"</$$"Q-3@@/"($"%/.'")'3i/$"P/$)/$"
D3$-($5(/'7(?."@'/()/%/-M-"</'8/$A""
!! U(/"8/'M/(-"(4"01NV/?.-")/@3'8/'-/"54@;%%/$8/"Z/</'-5$)"=3$"0($M/7%-3@@/$"85'?."8(/"
Z/.l'8/$"(%-"/$3'4"M/(-;5@<g$8()"5$8".;-"8;%"$3-</$8()/"0($)'/(@/$"3@-"h6/'"k;.'/"
=/'Ml)/'-A"P/.'"$3?.n"0%")(6-"M;.7'/(?./"Z/(%&(/7/"8;@h',"8;%%"/($/")/@g.'7(?./"
2./4(D;7(/"85'?."/($/";$8/'/"/6/$%3")/@g.'7(?./"/'%/-M-"<5'8/"RMAZA"Q56%-(-5-(3$"=3$"
d(-'3NP3%?.5%N_/'6($85$)/$"85'?."&37>M>D7(%?./a"Q56%-(-5-(3$"=3$"D5'MD/--()/$"
2.73'&;';@@($/$"85'?."4(--/7D/--()/"2.73'&;';@@($/SA"W$%-;--"54</7-=/'-'g)7(?./"
W7-/'$;-(=/$"/$-<(?D/7$,"7;)"8;%"Q?.</')/<(?.-";5@"8/'"7;$);-4()/$"Z/</'-5$)"8/'"
)/@g.'7(?./$"Q-3@@/A"
!! #$"@h$@"8/'"!+"Lg77/"%($8"8(/"W66;5&'385D-/"RP/-;637(-/$S"$3?."-3H(%?./'";7%"8(/"
5'%&'h$)7(?."=/'4;'D-/-/"Q56%-;$M"RMAZA"6(373)(%?./'"W66;5"=3$"d3$>7&./$37N
0-.3H>7;-/$"M5"d3$>7&./$37,"38/'"=3$"U(5'3$"M5"T,`"U(?.73';$(7($SA"P;$"D;$$"8;=3$"
;5%)/./$,"8;%%"%37?./"0@@/D-/";5?."6/(";$8/'/$"2./4(D;7(/$";5@-'/-/$"Dl$$/$,"8;"=(/7/"(4"
0($%;-M"6/@($87(?./"Q-3@@/"$(?.-")5-";66;56;'"%($8"5$8"6(%7;$)"D;54"%>%-/4;-(%?./"
Q-58(/$"h6/'"4l)7(?./"W66;5&'385D-/"85'?.)/@h.'-"<5'8/$A"
!! 9/8/'"8;%"6/%-/./$8/"2./4(D;7(/$'/?.-"$3?."@'/(<(77()/"P;i$;.4/$"8/'"#$85%-'(/"
D3$$-/$"6(%7;$)"8/$"%(?./'/$"14);$)"4(-"2./4(D;7(/$")/<g.'7/(%-/$A"U(/"Pl)7(?.D/(-/$"
8/'"p@@/$-7(?.D/(-,"8/$"0'%;-M")/@g.'7(?./'"Q-3@@/"M5"/'M<($)/$"%($8"6/)'/$M-A"U/$$"3@-"
%($8"#$@3'4;-(3$/$"h6/'"8(/"W$</$85$)"5$8"8(/"V(%(D/$"=3$"2./4(D;7(/$"($":'385D-/$"
5$8"_/';'6/(-5$)%&'3M/%%/$"8/'"p@@/$-7(?.D/(-"$(?.-"M5)g$)7(?.A"
"
U(/%/"Z/(%&(/7/"=/'8/5-7(?./$,"<(/"$l-()"/($"$/5/%"5$8"%-;'D/%"01N2./4(D;7(/$'/?.-"(%-,"54"
8/$"V(%(D/$")/@g.'7(?./'"Q-3@@/"'/?.-M/(-()"5$8"/@@/D-(="6/)/)$/$"M5"Dl$$/$A"U;M5")/.l'-"
;5?.,"8;%%"8(/":'385M/$-/$"5$8"#4&3'-/5'/"=/'&@7(?.-/-"</'8/$,""(.'/"Q-3@@/"M5"'/)(%-'(/'/$"
5$8")/$h)/$8"U;-/$"@h'"/($/"=/'$h$@-()/"V(%(D36/</'-5$)"M5"7(/@/'$"RD/($/"_/'4;'D-5$)"
3.$/"#$@3'4;-(3$"uSA"
"
0%"(%-"8;';5@".($M5</(%/$,"8;%%"8(/%/"Q-58(/"($"/'%-/'"^($(/";5@"#$@3'4;-(3$/$";5%"8/'"01"
W7-%-3@@6/</'-5$)"6/'5.-"5$8"-/(7</(%/"U3D54/$-/")/$5-M-"<5'8/$,"8(/"%(?."$3?."($"8/'"
U(%D5%%(3$"6/@($8/$A"U;%"<;'"$3-</$8(),"54"8(/";D-5/77/$,"8/'M/(-";5@"01N06/$/"M5'"
_/'@h)5$)"%-/./$8/$"#$@3'4;-(3$/$"M5%;44/$@;%%/$"5$8"/($()/")'5$87/)/$8/"U;-/$7h?D/$"
($"8/$"U3%%(/'%"(8/$-(@(M(/'/$"M5"Dl$$/$A"W5?."@h'"8(/")5-"6/D;$$-/$,")/@g.'7(?./$"Q-3@@/,"8(/"
($"8/'"=3'7(/)/$8/$"Q-58(/";7%"L;776/(%&(/7/"8(/$-/$,""%($8"=(/7/"#$@3'4;-(3$/$"M5":'385D-(3$,"
W$</$85$)"5$8"14</7-D3$M/$-';-(3$/$"4(-")'3i/$"1$%(?./'./(-/$"6/.;@-/-A"U(/%"(%-"D/($/"
Q?.<g?./"(4"W$%;-M"8/'"Q-58(/,"%3$8/'$"%?.7(?.-"8(/"o3$%/C5/$M"8/%"6/)'/$M-/$"9(%%/$%"($"
8/$"M5)'5$8/"7(/)/$8/$"01NQ-3@@6/</'-5$)/$"5$8";$8/'/$"U;-/$C5/77/$A"U(/"=3'.;$8/$/$"
#$@3'4;-(3$%7h?D/$"%($8";5?."/($"j/(?./$"@h'"8(/"Q?.<;?.%-/77/$"8/'"./5-()/$"2./4(D;7(/$N
:37(-(DA"
*
*
*
*
*
"
t"
3-415*%/*(%"#5"#2**
*
!"
!"#$%&'(#)%"**
+',,-$.*0%"(1'2)%"2*65"71)289*75$,-":*
*
E"
;*****<"(%"#$%115&*$515-25*%/*8-=-$&%'2*2'42#-"(52*
*
!A!""
:7;%-(?";88(-(=/%"
"
"
"
"
"
"
"
"
!A*""
P/-;7"&'385?-%" "
"
"
"
"
"
"""""""
"
!AT""
:'3?/%%"?./4(?;7%"($"($85%-'>"
!*"
!A`""
23%4/-(?"&'385?-%";$8"8/-/')/$-%"
!T"
!Ae""
W)'(?57-5';7"&/%-(?(8/%";$8"6(3?(8/%"
!T"
!+"
"!!"
"
*
!e"
>****?"-1.2)2*%/*@$%415,2*
*
*A!"""""""1$?3$-'377/8"5%/"3@".;M;'835%"%56%-;$?/%"
!e"
*A*"""""""^;?D"3@"8;-;"3$"?.;';?-/'(%-(?"&'3&/'-(/%"3@"%56%-;$?/%""
!e"
*AT"""""""K;M;'835%"%56%-;$?/%"$3-"'/?3=/'/8";-"/$8"3@"%/'=(?/"7(@/"
!t"
*A`"
^(4(-/8"7(;6(7(->"
!t"
*Ae"
0$=('3$4/$-;7"65'8/$%";%"'/%57-"3@".()."4;'D/-"=3754/%"
!t"
*At""
d3"($?/$-(=/%"-3"5%/"7/%%".;M;'835%"%56%-;$?/%" "
*Av"""""""0$?35';)($)"$/<"4;'D/-%"@3'".;M;'835%"%56%-;$?/%"
"
"
"
!v"
!v"
*AF"""""""V/7/;%/"3@"&/'%(%-/$-"%>$-./-(?"%56%-;$?/%"?3$-($5/%"-3"6/";773</8""
!F"
*AE"""""""K;M;'835%"8/?34&3%(-(3$"&'385?-%"
!F"
*A!+"""""^;?D"3@";??/%%"-3"($@3'4;-(3$"3$"/=;75;-(3$%"3@"%56%-;$?/%""
!E"
*
*!"
A***B)2C*D$%/)152*
*
TA!""""U(/-.>7./H>7&.-.;7;-/"RU0K:S"
**"
TA*""""Z'34($;-/8"@7;4/"'/-;'8;$-%"
*`"
TAT""""2.73'($;-/8"&;';@@($%"
*t"
TA`""""d3$>7&./$37/-.3H>7;-/%"
*F"
TAe""""P5%D"?34&35$8%"
T+"
TAt""""U(?.73';$(7($/,"8(5'3$,"7($5'3$"
T*"
TAv""""B'(@75';7($"
T`"
TAF""""U(?3@37"
Tt"
TAE""""B'(65->7"-($";$8"-'(&./$>7"-($"
TF"
TA!+""2;84(54*
`+"
*
*
"
*
"
*
"
v"
*
*
`*"
E*****?@@5"&)F*6G-#-:**
"
*
?@@5"&)F*E*;**********D$%&'(5$2********
`T"
*
!A+"""":'385?/'%"3@"%56%-;$?/%"
`T"
!A!""""U(/-.>7./H>7&.-.;7;-/"RU0K:S"
`T"
!A*""""Z'34($;-/8"@7;4/"'/-;'8;$-%"
``"
!AT""""2.73'($;-/8"&;';@@($%"
``"
!A`""""d3$>7&./$37/-.3H>7;-/%"
``"
!Ae""""P5%D"?34&35$8%"
è"
!At""""U(?.73';$(7($/,"8(5'3$,"7($5'3$"
è"
!Av""""B'(@75';7($"
`t"
!AF""""U(?3@37"
`v"
!AE""""B'(65->7"-($";$8"-'(&./$>7"-($"
`v"
!A!+""2;84(54*
`F"
"
*
?@@5"&)F*E*>*H*I-=-$&%'2*+'42#-"(52*)"*/)")285&*@$%&'(#2*
È"
"
*
?@@5"&)F*E*A*H*G-#-*/%$*$)2C*@$%/)152*
t!"
*
TA+""""P/-.38%"
t!"
TA!""""U(/-.>7./H>7&.-.;7;-/"RU0K:S"
""t`"
TA*""""Z'34($;-/8"@7;4/"'/-;'8;$-%"
tt"
TAT""""2.73'($;-/8"&;';@@($%"
tF"
TA`""""d3$>7&./$37/-.3H>7;-/%"
v+"
TAe""""P5%D"?34&35$8%"
v*"
TAt""""U(?.73';$(7($/,"8(5'3$,"7($5'3$"
v`"
TAv""""B'(@75';7($"
vt"
TAF""""U(?3@37"
vv"
TAE""""B'(65->7"-($";$8"-'(&./$>7"-($"
vF"
TA!+""2;84(54*
F+"
TA!!""Y=/'=(/<"3$"?'(-(?;77>"/@@/?-/8"3');$(%4%""
F*"
"
*
FT"
E*J*+%'$(52*%/*)"/%$,-#)%"*
"
0********
K$-@8)C5"*,)#*+#%//@$%/)15"9*G5'#2(8*
G)-7$-,2*L)#8*2'4#-"(5*@$%/)1529*M"71)28*
*
"
F"
;N*<"(%"#$%115&*$515-25*%/*8-=-$&%'2*2'42#-"(52**
"
2./4(?;7"%56%-;$?/%"<.(?.";'/"&/'%(%-/$-";$8";??5457;-(=/";$8"?;$".;=/";".;'4@57"/@@/?-"3$"
3');$(%4%"%.3578"$3-"6/"'/7/;%/8"($-3"-./"/$=('3$4/$-A"B.(%")3;7"(%"$3<";??/&-/8"($"45?."3@"
-./" ?./4(?;7%" ($85%-'>" ;$8" ;7%3" %-;-/8" ($" -./" Q-3?D.374" 23$=/$-(3$" 3$" :/'%(%-/$-" Y');$(?"
:3775-;$-%" R:Y:S," " 01O%" &/%-(?(8/%" U('/?-(=/" 3@" E!J`!`" ;$8" -./" 01" 9;-/'" L';4/<3'D"
U('/?-(=/A" W?-5;7" 4;'D/-" ;?-(=(-(/%" ($" -./" 01" ;$8" -./" <;>" ($" <.(?." &'385?-%" ;'/" 4;8/" ;$8"
5%/8" %.3<%" .3</=/'" -.;-" $/(-./'" &'/%/$-" ?./4(?;7%" &37(?>" $3'" 4;$;)/4/$-" &';?-(?/" ($" -./"
($85%-'>" ;'/" ;&&'3&'(;-/" @3'" ;--;($($)" -.(%" )3;7A" B./" ;(4" ./'/" (%" -3" %.3<" <(-." -./" ./7&" 3@" ;"
$546/'" 3@" )'35&%" 3@" &'385?-%" -.;-" -./" @73<%" 3@" ?./4(?;7" %56%-;$?/%" ($" -./" 01" /?3$34(?"
%&./'/";'/"($"4;]3'";'/;%"35-"3@"?3$-'37A""
"
*
;N;*D1-2#)(*-&&)#)O52**
!"#$%&&$'(%)$*'+,(-&%$+.$/0123$45-+'(.67&8$*6'6,,(.$6.8$9'+:(.67&8$,-6:&$'&76'86.7%$(.$456*7&'$;<=$7+$;<;>$$
"
B./"?.;';?-/'(%-(?%"3@"&7;%-(?"%56%-;$?/%"R&37>4/'%S"?;$"6/"438(@(/8"<(-."-./"5%/"3@";88(-(=/%A"
:7;%-(?(%/'%"4;D/"-./4"@7/H(67/,"@7;4/"'/-;'8;$-%")(=/"-./4"73<"?3465%-(6(7(->";$8"%-;6(7(%/'%"
)(=/" %-;6(7(->" ($" ./;-" ;$8" 1_" '/%(%-;$?/A" :_2" (%" -./" &7;%-(?" <.(?." (%" 6>" @;'" -./" '(?./%-" ($"
;88(-(=/%A" B>&(?;7" ;88(-(=/%" ;'/" 8/&3%(-/8" ($" -./" &7;%-(?" 4;-'(H" 65-" $3-" @('47>" 635$8" -3" (-A"
U/&/$8($)" 3$" -./" &'385?-O%" ?.;';?-/'(%-(?%" -./" ;88(-(=/%" ?;$" 6/" '/7/;%/8" 8(@@5%/7>" @'34" -./"
&'385?-"85'($)"(-%"7(@/";$8J3'"<(77"&'/%/$-";"&'367/4"<./$"-./"&'385?-"(%"@($;77>"8(%&3%/8"3@"
R/A)A"'/7/;%/"3@"4/-;7%";$8"@3'4;-(3$"3@"8(3H($%"85'($)"($?($/';-(3$SA"B38;>,"8(@@5%/"/4(%%(3$%"
@'34"@($;7"&'385?-%";'/"3@-/$"43'/"%()$(@(?;$-"3=/';77"-.;$"&3($-"%35'?/%,"7(D/"-./"&'385?-(3$"
3@" ?./4(?;7" %56%-;$?/%A" d/=/'-./7/%%," <./$" &7;%-(?" ;'-(?7/%" ;'/" &'3?/%%/8" 73?;7" <;-/'%" ;$8"
%3(7%"4;>"6/"%56%-;$-(;77>"&3775-/8"6>"'/7/;%/%"3@"&7;%-(?(%/'%"3'"@7;4/"'/-;'8;$-A"
"
B;67/"!"&'3=(8/%"%34/"D/>"@()5'/%"'/7;-/8"-3".;M;'835%"&'3&/'-(/%"3@"-.'//"'/7/=;$-")'35&%"3@"
;88(-(=/%,"-./"4;'D/-"=3754/"($"-./"01,"'/7/;%/%";$8"/$=('3$4/$-;7"@;-/"3@"-./%/"%56%-;$?/%A"
"
9./$" 8;$)/'35%" %56%-;$?/%" ;'/" ($-'385?/8" ($-3" ?3$%54/'" )338%," 8(@@5%/" 73%%/%" -3" %5'@;?/"
<;-/'";$8";('"3@"-./"3'8/'"3@"3$/"&/'"?/$-"3'"43'/"&/'">/;'"?;$"6/"/H&/?-/8"R?34&;'(%3$"3@"
4;'D/-"=3754/";$8"73%%/%"($"-./"-;67/SA"9(-."4;'D/-"=3754/%"3@"%/=/';7"-/$%"-3".5$8'/8%"3@"
-.35%;$8%" 3@" -3$$/%" &/'" >/;'," %5?." '/7/;%/%" ?3$%-(-5-/" ;" ?3$%(8/';67/" /$=('3$4/$-;7" ;$8"
?3$%54/'" 65'8/$A" Q($?/" -./%/"%56%-;$?/%" 3$7>"%73<7>" 8/)';8/";$8"-/$8"-3" 6(3;??5457;-/";-"
-./" %;4/" -(4/," %/?3$8;'>" &3(%3$($)" =(;" -./" @338" ?.;($" 3??5'%," ($?758($)" ?3$-;4($;-(3$" 3@"
.54;$" 6'/;%-4(7DA" #$" -./" ?;%/" 3@" U0K:," ;" &;'-" 3@" -./" 638>" 65'8/$" (%" 7(D/7>" -3" '/%57-" @'34"
8('/?-"5&-;D/,"/A)A"@'34"?3%4/-(?%A"
"
E"
3-415*;*H*D1-2#)(*-&&)#)O52*%'#*%/*(%"#$%1*6,)&*#%*5"&*;PPQ2:"
"
K;7@N7(@/"($"<;-/'*"
U(%-'(65-(3$T"($"45%%/7%"J"<;-/'"
U(%-'(65-(3$"($"@(%."J"<;-/'"RZ2LS"
P;'D/-"=3754/"($"01"
0$-'>"($-3"01";('";$8"%5'@;?/"<;-/'!+"
B>&(?;7"?3$?/$-';-(3$"($"'(=/'%""Rx)J7S!!"
23$?/$-';-(3$"($"%/8(4/$-"4)JD)"8<!*"
B>&(?;7"?3$?/$-';-(3$"($"4;'($/"4;44;7%,"
6('8%"R4)JD)"<<S!`"
Z'/;%-"4(7D"x)JD)"@;-!e"
:d02!t"@'/%."<;-/'"@3'"&/7;)(?"?3445$(->""
:d02"@'/%."<;-/'"@3'";C5;-(?"@338"?.;($""
K3'43$;7N7(D/"/@@/?-"
:7;%-(?(%/'""
U0K:"
P3$-.%"
*e++`"
F`+e"
`F+,+++"-J;v"
e,t++"-J;"
!"m"!+""
!"m"*+""
*"m"!T"
!+"m"!t+"
d3-"%5(-;67/"
+,TT"x)J7""
w/%"
Z'34($;-/8"L7;4/"
V/-;'8;$-""
w/;'%"
"
t+"m"!`,+++t"
T*,+++"-J;F"
*++"m"T++"-J;""
-33"@/<"8;-;"
+A*""RE+ISa"+A!"R4/;$S!T"
+A!"m"vAv"R&/$-;S""
R@;-"3@"4;'($/"4;44;7%S"
!"m"!+"R-/-';,"&/$-;,"./H;S"
+AeT+"x)J7"R&/$-;S"
+,+++e"x)J7"R&/$-;S"
w/%"
:7;%-(?(%/'""
2.73'($;-/8"&;';@@($%!"
w/;'%"
*AE++"
!,!++t"
et,+++"-J;E"
"ee+"-J;"
+A!"m"+Ae"
+AT"m"!""
*+m`+"R@;-"3@""Z/75);S"
!T"
!,+"x)J7""
"
d3"/=(8/$?/"
"
"""""""""""""""""""""""""""""""""""""""""""""""""
!
"B.(%"(%"4;($7>"4/8(54N?.;($"?.73'($;-/8"&;';@@($%"5%/8"($"&7;%-(?"&'3?/%%($)A"Y-./'"5%/%"3@"P22:"3'"5%/"3@"
73$)"?.;($"?.73'($;-/8"&;';@@($%"(%"$3-"($?758/8A"
*
"L3'"4;$>"($85%-'(;7"?./4(?;7%"$3".;7@"7(=/%";'/"@'34"%(457;-(3$"-/%-%"3$"6(38/)';8;-(3$";'/";=;(7;67/">/-A"#$"
-./%/"?;%/%,"/%-(4;-/%".;=/"6//$"4;8/"6;%/8"3$"Y02U"%?'//$($)"-/%-%"3$"8/)';8;-(3$A"#@";"%56%-;$?/".;%"($"@35'"
<//D%"$3-"8/?34&3%/8"6>"43'/"-.;$"v+I"($-3"2Y*";$8"<;-/',"(-"(%"'/);'8/8".+7$'&68(-?$9(+8&@'6869-&"
R8/?34&3%(-(3$"6>"e+I"7;%-($)"73$)/'"-.;$";"43$-.S"3'"$3-"(.5&'&.7-?$9(+8&@'6869-&"R8/?34&3%(-(3$"6>"e+I"
7;%-($)"73$)/'"-.;$";">/;'S,"8/&/$8($)"3$"-./"-/%-"?3$8(-(3$%A""
T
"/$'(?.4/$-"($")(77N6'/;-.($)";C5;-(?"3');$(%4%"?34&;'/8"-3"%5''35$8($)"<;-/'A"
`
"U';@-"01"V(%D"W%%/%%4/$-"3$"U0K:,"*++!"
e
"U';@-"01"V(%D"W%%/%%4/$-"3$"U0K:,"*++!"
t
"73</%-"@()5'/"@3'"8/?;6'348(&./$>7/-./',".()./%-"@()5'/"@3'"&/$-;6'348(&./$>7/-./'"b05'3&/;$"2344(%%(3$a"
Q-58>"3$"-./":'(3'(-(%;-(3$"3@"Q56%-;$?/%"U;$)/'35%"-3"-./"WC5;-(?"0$=('3$4/$-a"!EEEc"
v
"U';@-"01"V(%D"W%%/%%4/$-"3$"U0K:,"*++!"
F
"`Ì"3@"-.(%"6/($)"-/-';6'346(%&./$37"W"RBZZWS,"*FI"./H;6'34?>?73838/?;$"RKZ2US,"*tI"8/?;6'34N
8(&./$>7/-./'";$8"*I"&/$-;J3?-;6'348(&./$>7/-./'"";??3'8($)"-3"-./"U';@-"01"V(%D"W%%/%%4/$-%"3$"U/?;,"Y?-;,"
BZZW";$8"KZ2U,"*++*a";$8"f/'4;$"L/8/';7"0$=('3$4/$-;7"W)/$?>"R1ZWS,"*++!"
E
"U';@-"01"V(%D"W%%/%%4/$-"3$"P22:,"*++*A"B./"4;'D/-"=3754/"'/7;-/%"-3"!EEe,"($"!EEv"(-"<;%"teA+++"-J;A""
!+
"V35)."?;7?57;-(3$"6;%/8"3$"<3'%-"?;%/";%%54&-(3$,";%"-;D/$"($"-./"U';@-"01"V(%D"W%%/%%4/$-%"R$3-"($?758($)"
'/7/;%/%"-3"%3(7S""
!!
"B;D/$"@'34"=;'(35%"%35'?/%";%"($8(?;-/8"($"-./"@;?-"%.//-";&&/$8(H"Z*"
!*
"B;D/$"@'34"=;'(35%"%35'?/%";%"($8(?;-/8"($"-./"@;?-"%.//-";&&/$8(H"Z*"
!T
"-3-;7"3@"*,*,`,`"-/-';6'346(%&./$>7/-./',"8/?;6'3436(&./$>7,"8/?;6'348(&./$>7/-./'";$8""
&/$-;6'3438(&./$>7/-./'a"8/?;6'348(&./$7>/-./'".;=($)"%.;'/"3@"EvI"b05'3&/;$"2344(%%(3$a"Q-58>"3$"-./"
:'(3'(-(%;-(3$"3@"Q56%-;$?/%"U;$)/'35%"-3"-./"WC5;-(?"0$=('3$4/$-a"!EEEc"
!`
"B;D/$"@'34"=;'(35%"%35'?/%";%"($8(?;-/8""($"-./"@;?-"%.//-"($";&&/$8(H"Z*,"($"&;'-(?57;'"YQ:WV"83?54/$-%";$8"
U';@-"01"V(%D"W%%/%%4/$-%"3$"-./"'/7/=;$-"%56%-;$?/A"
!e
"U;-;"@'34"01"U';@-"V(%D"W%%/%%4/$-%"3$"-./"'/7/=;$-"%56%-;$?/%"R%//";&&/$8(H"Z`S"
!t
"B./":'/8(?-/8"d3"0@@/?-"23$?/$-';-(3$"R:d02S"(%"6;%/8"3$"73$)"-/'4"%-58(/%"3$";C5;-(?"3');$(%4%";$8"
;&&'3&'(;-/"/H-';&37;-(3$"@;?-3'A"B./"@()5'/%"($"-./"-;67/";'/"6;%/8"3$"01"V(%D"W%%/%%4/$-%";$8"&'3&3%/8"6>"-./"
L';5$.3@/'"#$%-(-5-/";%"/$=('3$4/$-;7"C5;7(->"%-;$8;'8%"5$8/'"-./"01"9;-/'"L';4/<3'D"U('/?-(=/"bL';5$.3@/'N
#$%-(-5-/"P37/?57;'"Z(373)>";$8"W&&7(/8"0?373)>n"#8/$-(@(?;-(3$"3@"C5;7(->"%-;$8;'8%"@3'"&'(3'(->"%56%-;$?/%"($"
-./"@(/78"3@"<;-/'"&37(?>a";$$/H"à""Q/&-/46/'"*++*cA"B./"P22:"8;-;";'/"8('/?-7>"-;D/$"@'34"-./"01"U';@-"V(%D"
W%%/%%4/$-"3$"P22:,"*++*A"
"
!+"
;N>* R5#-1*@$%&'(#2**
!"#$%&&$'(%)$*'+,(-&$+.$A68:(B:$(.$456*7&'$;<=C>$$
*
B./" /4(%%(3$" 3@" 7/;8" ;$8" ?;84(54" @'34" 4;]3'" %35'?/%" 3@" /4(%%(3$%" R$3$N@/''35%" @5'$;?/%,"
4/-;7"&'3?/%%($),"@5/7";88(-(=/%S".;%"8/?7($/8"3=/'"F+"&/'"?/$-"($"-./"7;%-"!e">/;'%!vA"B./"5%/"
3@"7/;8";$8"?;84(54".;%";7%3"6//$"?3$@($/8"-3";$"($?'/;%($)7>"$;''3<"%&/?-'54"3@"&'385?-"
)'35&%A"B./('"4;]3'";&&7(?;-(3$%";'/"-38;>"($"%-3';)/"/7/4/$-%"@3'"/7/?-'(?;7"/$/')>"R7/;8";$8"
$(?D/7" ($" 6;--/'(/%" ?3$%-(-5-($)" t+" -3" v+" &/'" ?/$-" 3@" ?5''/$-" 5%;)/S," ?3$%-'5?-(3$" 4;-/'(;7%"
R7/;8S," ?;67/%" R7/;8S," 45$(-(3$%" R7/;8S," @(%.($)" $/-%" R7/;8S," &'3-/?-(3$" @3'" %5'@;?/%" ($" %&/?(;7"
5%/%" R?;84(54," 7/;8S" ;$8" :_2" %-;6(7(%/'%A" 9.(7/" -./" 4;'D/-" =3754/" 3@" 7/;8" ($" 05'3&/" .;%"
%7().-7>"8/?7($/8"($"-./"&;%-"*+">/;'%,"-.;-"@3'"?;84(54".;%"%-;)$;-/8";-";".()."7/=/7A""
"
B./"'/?3=/'>";$8"'/?>?7($)"3@"5%/8"&'385?-%"?3$-;($($)"?;84(54".;%"%3"@;'"'/4;($/8"5$8/'N
8/=/73&/8A"W);($%-";"05'3&/;$";$$5;7"&'385?-(3$"3@";635-"e,F++"-3$$/%"3$7>"et+"-3$$/%";'/"
'/?>?7/8" R*+++S!FA" B./" ?377/?-(3$" ';-/" @3'" '/?>?7($)" @'34" -./" &'(=;-/" %&./'/" (%" ;635-" *+" &/'"
?/$-" 3@" -./" ;435$-" %378" ($" -./" 01" RT!F" -J;" 28" ?377/?-/8," !,t*e" -J;" %378" ($" *+++S!EA" L3'" -./"
&'3@/%%(3$;7"%/?-3',"'/?>?7($)"(%"$3-"45?.".()./'"R*`*"-J;"?34&;'/8"-3"F`t"-3$%SA"9(-."7/;8"
-./"@';?-(3$"3@"'/?>?7/8"7/;8"($"&'385?/8"7/;8"(%"45?.".()./'a"($"f/'4;$>,"@3'"/H;4&7/,"(-"(%"
e`"&/'"?/$-*+A"B.(%"?;$"6/"&;'-7>"/H&7;($/8"6>"-./"@;?-"-.;-"-./"7/;8"6;--/'>"4;'D/-"($=37=/%";"
%4;77/'" $546/'" 3@" 5$(-%" RT++" -3" Te+" 4(77(3$" 7/;8" 6;--/'>" 5$(-%" ?34&;'/8" -3" !,`++" 4(77(3$"
?;84(54"6;--/'>"5$(-%,"<3'78"<(8/S,"-.;-"-./"5$(-%";'/"6())/',"-.;-"-./"@(/78"3@";&&7(?;-(3$".;%"
;" 73<" 8(=/'%(->" R4;($7>" ?;'%S," ;$8" -.;-" '/-5'$($)" 378" 7/;8" 6;--/'(/%" .;%" 6//$" /%-;67(%./8"
&';?-(?/"@3'"8/?;8/%A"
"
B./" %-3?D" 3@" 4/-;7%" ?5''/$-7>" 5%/8" <(77" 6/?34/" <;%-/" ($" -./" $/H-" @/<" 8/?;8/%A" B./" <;%-/"
%-'/;4" (%" /H&/?-/8" -3" 6/" ?7/;'7>" .()./'" -.;$" -./" '/4;($($)" 8/4;$8," ./$?/" '/N?377/?-(3$" 3@"
4/-;7%" @'34" &'385?-%" <(77" 6/" ($?'/;%($)7>" 7/%%" /?3$34(?" -3" ?;''>" 35-AA" 9;%-/" ($?($/';-(3$"
&7;$-%,"<;%-/"($?($/';-(3$"%7;),"<;%-/"-(&%";$8"&'385?-%"<.(?."'/4;($"($"-./"/$=('3$4/$-";@-/'"
-./('"%/'=(?/"7(=/%".;=/"/$8/8"<(77"-./'/@3'/"?3$-($5/"-3"6/"%35'?/%"3@"/4(%%(3$%"($"-./"@5-5'/A"
"
B./"%35'?/%"3@"8(@@5%/"'/7/;%/%"3@"7/;8";$8"?;84(54"($"5'6;$";'/;%"($?758/"=/.(?57;'"-';@@(?"
R@'34" 6';D/%," ->'/%," ?;'" <;%./%," '3;8" %5'@;?/%" ;$8" @5/7S," &()4/$-%" ($" /H-/'(3'" &;($-%" R7/;8S,"
?3$%-'5?-(3$"4;-/'(;7%"4;8/"3@"M($?"R<(-."?;84(54"(4&5'(-(/%S,";$8"@/'-(7(%/'%"R?;84(54SA*!"
"
#$" ;88(-(3$" 7;')/" %-3?D%" 3@" 4/-;7" .;=/" 65(7-" 5&" ($" -./" ($@';%-'5?-5'/" -./" &;%-" @/<" 8/?;8/%,"
?;5%($)"?3$%-;$-"8(@@5%/"/4(%%(3$%"R%5'@;?/"/'3%(3$S"($-3"-./"/$=('3$4/$-".;=/"6//$"65(7-"5&"
@'34"-./"5%/"3@"4/-;7%"($A"Q34/"!F"-"3@"?;84(54"/$-/'/8"f/'4;$"<;-/'%"($"!EEv,";635-"F+"
&/'" ?/$-" @'34" 8(@@5%/" %35'?/%" RT+I" @'34" 5'6;$" ;'/;%" ;$8" ;635-" T+I" @'34" )/3)/$(?"
&'3?/%%/%SA"B./"/$-'>"3@"7/;8"($"f/'4;$>"<;%"($"!EEv";635-"e++"-,"'35).7>"E+"&/'"?/$-"@'34"
8(@@5%/"%35'?/%"RT+I"@'34"5'6;$";'/;%";$8";635-"èI"@'34")/3)/$(?"&'3?/%%/%SA"B./";435$-"
?3$-'(65-/8"8('/?-7>""6>"($85%-'(;7"/@@75/$-"<;%"</77"6/73<"!+"&/'"?/$-**A""
"""""""""""""""""""""""""""""""""""""""""""""""""
!v
"f/'4;$"L/8/';7"0$=('3$4/$;7"W)/$?>"R1ZWSn"B/H-/"eTJ++n"!2#$$#1&$#&4.&%,0(5,$$.0(670(8#.(
9*&8.$0.:*+3#;(<.*%$-=3,&8(
!F
"U';@-"01"V(%D"W%%/%%4/$-"3$"?;84(54"5%/8"($"Z;--/'(/%,"W5)5%-"*++*"
!E
"U';@-"01"V(%D"W%%/%%4/$-"3$"?;84(54"5%/8"($"Z;--/'(/%,"W5)5%-"*++*a"
*+
"/%-(4;-/"@3'"f/'4;$>,";??3'8($)"-3"93'D($)""f'35&!T"5$8/'"-./"f3=/'$4/$-;7"2344(%%(3$""@3'"9;%-/"
:'/=/$-(3$"3@""^3</'"Q;H3$>,"f/'4;$>"""
*!
"Z/')6g?D,"o"/-";7n"1'6;$"P/-;7"L73<%"m"W"2;%/"Q-58>"3@"Q-3?D.374a"U/&;'-4/$-"3@"Z(373)>";$8"
0$=('3$4/$-;7"Q?(/$?/,"o;74;'"1$(=/'%(->,"Q</8/$""
**
"f/'4;$"L/8/';7"0$=('3$4/$;7"W)/$?>"R1ZWSn"B/H-/"eTJ++n"!2#$$#1&$#&4.&%,0(5,$$.0(670(8#.(
9*&8.$0.:*+3#;(<.*%$-=3,&8((
"
!!"
;NA***D$%(522*(85,)(-12*)"*)"&'2#$.**
!"#$%&&$'(%)$*'+,(-&%$+,$45-+'(.67&8$*6'6,,(.$6.8$.+.?-*5&.+-$(.$456*7&';<;6.8$;<D>$
"
:'3?/%%"?./4(?;7%,"<.(?."83"$3-"%-;>"($"&'385?-%"65-";@-/'"-./('"5%/"6/?34/"($85%-'(;7"<;%-/,"
;'/"5%/8"($"-./"4;$5@;?-5'/"3@"-/H-(7/%,"4/-;7")338%"3'"3-./'"($85%-'(;7"&'385?-%A"P/-;7"&'3N
?/%%($)"@75(8%";$8"($85%-'(;7"?7/;$/'%";'/"/H;4&7/%"3@"-./%/A"Z3-."D($8%"3@"?./4(?;7"&'385?-%"
;'/" 3@-/$" ($-'385?/8" ;%" ;" 4(H-5'/" <(-." <;-/'," ;$8" ;@-/'" 5%/" R&3%%(67>" <(-." ($-/'$;7"
'/&'3?/%%($)S" 8(%&3%/8" 3@" <(-." -./" /@@75/$-A" #@" %56%-;$?/%" <.(?." ?;$$3-" 8/)';8/" /;%(7>," @3'"
/H;4&7/" $3$>7&./$37/-.3H>7;-/"R($85%-'(;7" ?7/;$/'S," 3'" %.3'-" -3" 4/8(54N?.;($/8" ?.73'($;-/8"
&;';@@($%" R4/-;7" &'3?/%%($)" /457%(3$%S," ;'/" 5%/8" ($" -./%/" &'385?-%," -./>" <(77" &'36;67>" /$-/'"
%5'@;?/"<;-/'%"R@'34"%/<;)/"&7;$-%S";$8"%3(7%"R($"'/5%($)"%/<;)/"%758)/SA"#$"63-."/H;4&7/%"
-./"?./4(?;7"&'385?-%";'/"%3"<(8/%&'/;8"-.;-";$>"5%/"3@"-./4"($"?73%/8"%>%-/4%"-/$8%"-3"6/"
-./"/H?/&-(3$A""
"
3-415*>*H*D$%(522*(85,)(-12*%'#*%/*(%"#$%1*6,)&*#%*5"&*%/*;PPQ2:>A"
"
d3$>7&./$37R/-.3H>7;-/%S"
/A)A"($"($85%-';7"?7/;$/'%"
P3$-.%"
*,+++"m"T,+++"
!,T++"
vE,+++"-J;"
Fe+"-J;"
+A!"m"!"
+A*"m"*"
d3"8;-;a"@'/%.<;-/'"@(%."
4;HA"!"
"vAe*E"
+AT"x)J7"R:d02S"
w/%"
K;7@N7(@/"($"<;-/'"
U(%-'(65-(3$"($"45%%/7%"J"<;-/'"
U(%-'(65-(3$"($"@(%."J"<;-/'""
P;'D/-"=3754/"($"01"
0$-'>"($-3";('";$8"<;-/'"*e"
B>&(?;7"?3$?/$-';-(3$"($"@'/%."<;-/'""Rx)J7S*t"
B>&(?;7"?3$?/$-';-(3$"($"%/8(4/$-"4)JD)"8<*v"
B>&(?;7"?3$?/$-';-(3$"($"4;'($/"4;44;7%,"6('8%"
4)JD)"<<*F"
Z'/;%-"4(7D"x)JD)"@;-"
0@@/?-"7/=/7"($"@'/%."<;-/'"
K3'43$;7N7(D/"/@@/?-"
2.73'($;-/8"&;';@@($%*`"($"
4/-;7"&'3?/%%($)"/457%(3$%""
w/;'%"
`!,+++"
""v,F++"
!T,+++"-J;"R!EE`S"
!,!e+"-J;""
+A!"m"+Ae"
+AT"m"!"
*e"m"e+"R@;-"3@"Z/75);S"
!+"m"!t""
+Ae"x)J7"R:d02S"
d3"/=(8/$?/"
"
"""""""""""""""""""""""""""""""""""""""""""""""""
*T
"U;-;"43%-7>"-;D/$"@'34"U';@-"01"V(%D"W%%/%%4/$-a"3-./'"%35'?/%"($8(?;-/8"($"-./"@;?-%.//-%"($";&&/$8(H"Z"*"
"43%-7>"%.3'-N?.;($"?.73'($;-/8"&;';@@($"($"4(8"3@"$($/-(/%,"?34&;'/8"-3"-./"'/7/;%/"3@"P22:"R%//"-;67/"!S"-.(%"
@()5'/"4;>"6/";$"3=/'/%-(4;-(3$"@3'"-./"%/?3$8".;7@"3@"-./"E+%"85/"-3"3$)3($)"%56%-(-5-(3$"&'3?/%%/%A""
*e
"V35).7>"?;7?57;-/8"<3'%-"?;%/"@()5'/,"6;%/8"3$"($@3'4;-(3$"($"-./"01"V(%D"W%%/%%4/$-A"
*t
"?34&(7/8"@'34"=;'(35%"%35'?/%,";%"($8(?;-/8"($"-./"@;?-"%.//-"($";&&/$8(H"Z"*"
*v
"?34&(7/8"@'34"=;'(35%"%35'?/%,";%"($8(?;-/8"($"-./"@;?-"%.//-"($";&&/$8(H"Z"*"
*F
"?34&(7/8"@'34"=;'(35%"%35'?/%,";%"($8(?;-/8"($"-./"@;?-"%.//-"($";&&/$8(H"Z"*"
*E
"6;%/8"3$"+AT"x)J7";%"($n"f5/$-./',"oA"/-";7n"0$83?'($/"U(%'5&-($)"d3$>7&./$37%";'/"16(C5(-35%"($"L338a"
0$=('3$AQ?(AB/?.$37A,"TtRFS,"!tvtN!tF+,*++*a"
*`
"
!*"
;NJ***0%2,5#)(*@$%&'(#2*-"&*&5#5$75"#2*
!$"#$%&&$'(%)$*'+,(-&$+,$:B%)$4+:*+B.8%$(.$456*7&'$;<E>$$
"
W@-/'"5%/"?./4(?;7"?34&3$/$-%"($"8/-/')/$-%";$8"?7/;$($)";)/$-%";'/";77"'/7/;%/8"($-3"<;%-/"
<;-/'"3'";6%3'6/8"($"-./".54;$"638>A"9.(7/"-./"-/$%(8/"?34&3$/$-%"($"8/-/')/$-%";$8"?7/;$N
($)";)/$-%"@3'"834/%-(?"5%/";'/"-38;>"/;%(7>"6(373)(?;77>"8/)';8;67/"3$";??35$-"3@"7/)(%7;-(3$"
-3"-.(%"/$8"4;8/"($"-./"!Ev+%,"%>$-./-(?"@';)';$?/";88(-(=/%";'/"$3-A"P5%D"?34&35$8%"R4;($7>"
);7;H37(8/" ;$8" -3$;7(8/S," %34/" *+++" -3$$/%T+" ;" >/;'" 3@" <.(?." ;'/" 5%/8" ($" -./" 01," ?;$" 3$7>"
&;'-(;77>" 6/" /7(4($;-/8" 6>" ;8%3'&-(3$" ($" %/<;)/" &7;$-%," ;$8" 3$7>" -3" ;" %4;77" /H-/$-" 6>"
6(373)(?;7" 8/)';8;-(3$" Re+mF+ISA" #$" ;88(-(3$" $(-'3N45%D" ?34&35$8%" &'385?/" -3H(?"
8/)';8;-(3$" &'385?-%" %37567/" ($" <;-/'A" P5%D" ?34&35$8%" ?;$" 3$" ;??35$-" 3@" -./('" @;-N7(D/"
&'3&/'-(/%" 6/" 8('/?-7>" ;6%3'6/8" -.'35)." -./" %D($" 3'" /$-/'" -./" .54;$" 3');$(%4" =(;" -./"
/$=('3$4/$-" ;@-/'" ;??5457;-($)" ($" -./" @338" ?.;($A" 9.(7/" -./" 4;'D/-($)" 3@" $(-'3N45%D%" .;%"
%.;'&7>"8/?7($/8"85'($)"'/?/$-">/;'%,"-./"&37>?>?7(?"45%D%";'/"%-(77"5%/8"($"7;')/";435$-%A""
"
"
;NS***?7$)('1#'$-1*@52#)()&52*-"&*4)%()&52*
!$"#$%&&$'(%)$*'+,(-&$+,$;3D$/(45-+'6.(-(.3$F'(,-B'6-(.3$/(4+,+-$6.8$F2F$(.$456*7&'$;<G$7+$;<H>$
"
2/'-;($"?./4(?;7"%56%-;$?/%";'/"5%/8"-3"D(77"G.;'4@57G"3');$(%4%"-.'35)."6/($)"6(373)(?;77>"
.().7>" ;?-(=/A" B.;-" (%," -./>" ;--;?D" ;$8" .;'4" 3');$(%4%X" 4/-;637(%4A" Q34/" vT+" 3@" -./%/"
%56%-;$?/%" ;'/" ?5''/$-7>" ;5-.3'(M/8" ;%" &/%-(?(8/%" ($" -./" 01," <(-." -./" $546/'" 3@" ;?-(=/"
%56%-;$?/%" 7(?/$%/8" '(%($)" '35).7>" 6>" ;" @;?-3'" 3@" -.'//" @'34" $3'-." -3" %35-.J</%-" R$3'-./'$"
?35$-'(/%n" !`+N!e+" %56%-;$?/%a" Z/7)(54," #'/7;$8" ;$8" -./" 1on" T++" N" TT+a" L';$?/" `Te" ;$8"
Q&;($"`FtST!A"B./"3=/'<./74($)"$546/'"3@"&/%-(?(8/%";5-.3'(%/8"-38;>".;=/"$3-"6//$";8/C5N
;-/7>";$;7>%/8";%"-3"-./('"6/.;=(35'";$8"(4&;?-"3$"-./"/$=('3$4/$-,"&;'-(?57;'7>"<./'/";-43%N
&./'(?" -';$%&3'-;-(3$";$8"8/?34&3%(-(3$"($"-./"/$=('3$4/$-";'/"?3$?/'$/8A" B./" -;67/" 6/73<"
)(=/%" ;$" 3=/'=(/<" 3@" 8;-;" @'34" 43$(-3'($)" @'/%.<;-/'" ($" 05'3&/;$" '(=/'%" R!EE`" m" !EEFS" ;%"
;%%/%%/8"6>"-./"2YPP:Q!e"&'3?/85'/,"($%3@;'";%"-./%/"8;-;"&'3=(8/"%5(-;67/"($8(?;-(3$"3@"'/N
)(3$;7" 6;?D)'35$8" &3775-(3$" 6>" ;5-.3'(%/8" &/%-(?(8/%" R<(-." 43$(-3'($)" %-;-(3$%" ($" ;-" 7/;%-"
-.'//"01"?35$-'(/%,"3=/'"!++"43$(-3'($)"%-;-(3$%,".343)/$/(->"3@"-./"8;-;"5%/8,";5-.3'(%/8"($"
;-"7/;%-"/().-"?35$-'(/%"($"k;$5;'>"*++!SA"#$"ÀT"I"3@"@338"%378"($"05'3&/"4;H(454"'/%(85/%"
3@" &/%-(?(8/%" ;'/" /H?//8/8" RUf" QWd2Y," W$$5;7" 01" 9(8/" :/%-(?(8/" V/%(85/" P3$(-3'($)"
V/&3'-"*+++SA"""
"
3-415*A*H*G5#5(#)%"*%/*-'#8%$)25&*@52#)()&52*)"*M'$%@5-"*$)O5$2"b02"!EEEScT*"
*
W-';M($/%"
f;44;"K2K"
Q(4;M($/"
U(4/-.3;-./"
T',45$*%/*
,5-2'$5,5"#**
D%)"#2*)"*NNN*
(%'"#$)52*
!+!+"RES"
Ft+"RES"
FF+"RES"
*e+"ReS"
"',45$*%/*2-,@152* PQU*%/*
R5-"*%/*
0%"(5"#$-#)%"*
%O5$*&5#5(#)%"*1),)#* ,5-2'$5,5"#2* ,5-2'$5[
WX7Y1Z*L85$5*"%*
6U*%/*#%#-1:*
V*NNN*WX7Y1ZAA*
,5"#2WX7Y1Z* 5//5(#*@$5&)(#5&*
6DTM0:*
!T,F+T"R`TIS"
+ATT"
+A+e"
+AF"
F,eTF"Re+IS"
+A+`"
+A+!"
+A*E"
`,Ftv"RT+IS"
+A**"
+A+e"
+Av"
eET"R*eIS""
+A!e"
+A+!"
+A*"
"""""""""""""""""""""""""""""""""""""""""""""""""
T+
"YQ:WV"*++!"
".--&nJJ/5'3&;A/5A($-J?344J@338J@%J&.y&%J($8/Hy/$A.-4"
T*
"05'3&/;$"2344(%%(3$n"Q-58>"3$"-./":'(3'(-(%;-(3$"3@"Q56%-;$?/%"U;$)/'35%"-3"-./"WC5;-(?"0$=('3$4/$-a"
V/=(%/8"&'3&3%;7"@3'";"7(%-"3@"&'(3'(->"%56%-;$?/%"($"-./"?3$-/H-"3@"-./"<;-/'"@';4/<3'D"8('/?-(=/"R2YPP:Q"
&'3?/85'/Sa"!EEE"
TT
"$3-";77"4/;%5'/4/$-%"6>"4/46/'"%-;-/%".;=/"6//$"/$-/'/8"./'/a"<.;-".;%"6//$"5%/8"(%"3$7>"-.;-"&;'-"3@"-./"
?377/?-/8"8;-;""<.(?."(%"%5@@(?(/$-7>".343)/$/35%"@3'"-./"&5'&3%/"3@"%-;-(%-(?;7"/=;75;-(3$A"B./"-3-;7"$546/'"3@"
4/;%5'/4/$-%"($?758/%";7%3"8;-;"&3($-%"<./'/"-./"%56%-;$?/"<;%"$3-"8/-/?-/8A"
T!
"
!T"
*
U(5'3$"
L/$(-'3-.(3$"
#%3&'3-5'3$"
:;';-.(3$"/-.>7"
:/$-;?.73'&./$37"
U(?.73'=3%"
0$83%57&.;$"
B'(@75';7($"
WM($3&.3%N4/-.>7"
Z/$-;M3$"
U(;M($3$"
P/?3&'3&"
T',45$*%/*
,5-2'$5,5"#**
D%)"#2*)"*NNN*
(%'"#$)52*
!+t"ReS"
ete"ReS"
!+t"ReS"
T*F"ReS"
eF`"ReS"
eeE"R`S"
v!+"R`S"
ve*"R`S"
e+*"RTS"
!e*"RTS""
Ft"RTS"
Tt*"RTS"
"',45$*%/*2-,@152* PQU*%/*
R5-"*%/*
0%"(5"#$-#)%"*
%O5$*&5#5(#)%"*1),)#* ,5-2'$5,5"#2* ,5-2'$5[
WX7Y1Z*L85$5*"%*
6U*%/*#%#-1:*
V*NNN*WX7Y1ZAA*
,5"#2WX7Y1Z* 5//5(#*@$5&)(#5&*
6DTM0:*
evT"R`TIS"
!A+F"
+A*T"
+A+e"
``v"RtIS""
+A+T"
+A+!"
+A++E"
Tvt"R*vIS"
+ATv"
+A!!"
+AT"
vee"R!TIS"
+A+*"
+A+!"
+A++e"
!,vÈ"R!TIS"
+A!T"
+A+v"
+A*"
eT!"RvIS"
+A+e"
+A+!"
+A++t"
!tv"R!IS"
+A+t"
+A++e"
+A++e"
F!E"RtIS"
+A+T"
+A++e"
+A+T"
F!v"R!*IS"
+A+!"
+A+!"
+A+*"
v*T"R*EIS"
+AFt"
+A+*"
F+"
!!*"R!eIS"
+A+T"
+A++F"
+A++T"
*,`te"RTvIS"
+AF!"
+A+v"
e"
"""
W7-.35).";635-"vT+"&/%-(?(8/%".;=/"6//$";5-.3'(%/8"($"-./"01,"'/&'/%/$-;-(=/"8;-;"@3'"3$7>"!v"
&/%-(?(8/%" ($" 05'3&/;$" '(=/'%" (%" ;=;(7;67/A" B./" &/%-(?(8/%" 7(%-/8" ($" B;67/" T" </'/" ($" k;$5;'>"
*++!" 7(?/$%/8" ($" ;-" 7/;%-" /().-" 01" ?35$-'(/%A" B./" 4/;$" ?3$?/$-';-(3$" 3@" ;77" !t" ;?-(=/" %56N
%-;$?/%" (%" 6/-<//$" !+" $)" ;$8" t++" $)J7A" L3'" %34/" 3@" -./" &/%-(?(8/%," -.(%" ($8(?;-/%" .()."
C5;$-(-(/%" ;$8" <(8/" 8(%&/'%/" 5%/," @3'" 3-./'" %56%-;$?/%" (-" 4;>" ($8(?;-/" -.;-" -./>" ;'/" C5(-/"
&/'%(%-/$-";$8"436(7/"($"-./"/$=('3$4/$-A""W635-"ve"&/'"?/$-"3@"-./%/"%56%-;$?/%".;=/"6//$"
4/;%5'/8"($";$";=/';)/"?3$?/$-';-(3$%";-";"7/=/7"-.;-"(%"?73%/"-3"3'";63=/"-./"?3$?/$-';-(3$";-"
<.(?.";8=/'%/"/@@/?-%"?;$$3-"6/"/H?758/8TÀ"
"
Q34/"*,+e+";?-(=/"?./4(?;7"%56%-;$?/%";'/"5%/8"($"!+,+++N*+,+++"8(@@/'/$-"6(3?(8/"&'385?-%"
($"-./"01TeA"Q($?/"-./'/"<;%"$3";5-.3'(%;-(3$"'/C5('/4/$-"@3'"4;$>"6(3?(8/"5%/%"5&"-3"$3<";"
%>%-/4;-(?";$8"C5;$-(-;-(=/"3=/'=(/<"3$"-./"43%-"'/7/=;$-";?-(=/"%56%-;$?/%"(%"7;?D($)A"Y$/"3@"
-./"43%-"</77ND$3<$";$8".;'4@57"6(3?(8/%"(%"-'(65->7"-($,"<.(?."($"-./"&;%-"@/<"8/?;8/%".;%"
6//$" 5%/8" ($" 7;')/" C5;$-(-(/%" ($" ;$-(@357($)" &;($-%" ;$8" &'3-/?-(3$" @3'" 4;-/'(;7%" R-/H-(7/%" ;$8"
<338SA"B./"%4;77/%-"C5;$-(-(/%"3@"BZB".;=/";"-3H(?"/@@/?-"3$";77";C5/35%"3');$(%4%"R7(D/"/A)A"
;7);/S" -.5%" &'/=/$-($)" -./4" @'34" %/--7($)" 3$" </-" %5'@;?/%" %5?." ;%" %.(&%X" .577%," -/$-%" 3'" -./"
@;?;8/%" 3@" 65(78($)%A" BZB" ?;$" .3</=/'" ;7%3" 6/" 5%/8" ;%" ;" 8(%($@/?-;$-" ($" %&3'-%</;'" 3'"
6;-.'334" (-/4%A" #-" .;%" ;" .;'4@57" /@@/?-" 3$" -./" (445$/" %>%-/4" 3@" 4;44;7%" ;$8" -./"
'/&'385?-(3$"3@"43775%?%A"
"
B./"6(3?(8/"BZB"(%"?./4(?;77>"?73%/7>"'/7;-/8"-3"3-./'"3');$3-($"?34&35$8%"R8(65->7"-($"3'"
43$365->7"-($S"<.(?.";'/"5%/8";%"%-;6(7(%/'%"($"&7;%-(?%"3'";%"?;-;7>%-%A"B./%/"%56%-;$?/%";'/"
;7%3"-3H(?";$8"43'/3=/'"?;$"6/?34/"?3$-;4($;-/8"<(-."BZB"85'($)"-./('"&'385?-(3$A""
"
9(-." 7(--7/" ?3$-'37" 3=/'" -./" 5%/" 3@" 65->7" -($" ?34&35$8%" ($" -./" 7;%-" @/<" 8/?;8/%," -./%/"
%56%-;$?/%";'/"$3<"-3"6/"@35$8"($"4;$>"/=/'>8;>"&'385?-%"/=/'><./'/"R%//"7(%-"3@"&'385?-%"($"
%/?-(3$";&&/$8(H"Z"*SA*
"""""""""""""""""""""""""""""""""""""""""""""""""
T`
":'/8(?-/8"d3"0@@/?-"23$?/$-';-(3$"
"B/4;d3'8"*+++nee+"
Te
"
!`"
>***?"-1.2)2*%/*@$%415,2*
"
B./" ?.;';?-/'(%;-(3$" 3@" '(%D%" '/7;-/8" -./" &'385?-(3$" ;$8" 5%/" 3@" -/$" %/7/?-/8" %56%-;$?/%" R3'"
)'35&"3@"%56%-;$?/%S"(775%-';-/%"<./'/"&37(?(/%";'/"8/@(?(/$-"($"(4&7/4/$-($)"-./"&'/?;5-(3$;'>"
;&&'3;?.";$8"%5&&3'-($)"%;@/"5%/"3@"?./4(?;7%A""
"
>N;**<"(%"#$%115&*'25*%/*8-=-$&%'2*2'42#-"(52**
"
#-" .;%" 6/?34/" ;743%-" (4&3%%(67/" -3" 8(%?/'$" ;$" 3=/';77" &;--/'$" ($" -./" 5%/" ;'/;%" 3@" ?./4(?;7"
%56%-;$?/%"<.(?.".;=/"$3<" 6//$"3$"-./" 4;'D/-" @3'"8/?;8/%A"L3'" 4;$>" %56%-;$?/%"-./'/";'/"
%34/" ->&/%" 3@" 5%/%" <./'/" %;@/" .;$87($)" (%" &3%%(67/" R/A)A" 6>" &'3@/%%(3$;7%" ($" ?73%/8"
4;$5@;?-5'/8"&'3?/%%/%S"($"3-./'"->&/%"3@"5%/%"(-"(%"$3-"R3&/$".;$87($)"3'"5$-';($/8"&/3&7/SA""
B./'/".;%"6//$";"7;?D"3@"/@@3'-";$8"($%-'54/$-%"($"7(4(-($)"-./"5%/"3@"?./4(?;7"%56%-;$?/%"-3"
-.3%/";&&7(?;-(3$%"-./>";'/"4;8/"@3'";$8"<./'/"%;@/".;$87($)"(%"&3%%(67/A"W")338"/H;4&7/"3@"
-.(%" (%" -./" 5%/" 3@" &7;%-(?(%/'%," <.(?." ;'/" .;'4@57" -3" '/&'385?-(3$," ($" ?.(78'/$X%" -3>%," @338"
&'3?/%%($)";$8"($%(8/"65(78($)%"&/3&7/"7(=/"($A"
B./"@;?-"-.;-"65->7N-($"?34&35$8%";'/"@35$8"/H-/$%(=/7>"($"8(=/'%/"?3$%54/'"(-/4%"(%";"?7/;'"
($8(?;-(3$" -.;-" -./" ?3$-'37" 3@" -./%/" ?./4(?;7%" .;%" @;(7/8" %3" @;'A" B./" %(457-;$/35%" 5%/" 3@"
%56%-;$?/%" 3@" -./" %;4/" ?./4(?;7" @;4(7>" R-'(65->7" -($" ;$8" 8(65->7" -($S" @3'" =;'(35%" ->&/%" 3@"
@5$?-(3$%"R1_";$8"./;-"'/%(%-;$?/"($"&7;%-(?%,";%"?;-;7>%-%"($"&7;%-(?"&'385?-(3$"3'";%"6(3?(8/%S"
.;%" '/%57-/8" ($" ;" %(-5;-(3$," <./'/" $/(-./'" -./" &'385?/'%" ;$8" -./" ($85%-'(;7" 5%/'%," $3'" -./"
?3$%54/'%"3'" -./";5-.3'(-(/%" ?;$" 6/" %5'/" <.(?." &'385?-"?3$-;($%" <.(?." ;435$-" ;$8" ->&/" 3@"
3');$3-($" ?34&35$8%A" B.(%" (%" @5'-./'" ?34&7(?;-/8" 6>" -./" @;?-" -.;-" %56%-;$?/%" <.(?." ;'/"
?./4(?;77>"?73%/7>"'/7;-/8";'/"3@-/$"?3$-;4($;-/8"<(-."3$/";$3-./'"R@3'"/H;4&7/"3$/"&/'"?/$-"
3@" -'(65->7" -($" ($" 8(65->7" -($," 3'" 3=/'" e+" &/'" ?/$-" 73</'" 6'34($;-/8" (%34/'%" ($" ?344/'?(;7"
3?-;6'348(&./$>7"/-./'SA"
2./4(?;7"4;$5@;?-5'/'%"83"$3-".;=/";8/C5;-/"73$)N-/'4"($@3'4;-(3$"3$"4;'D/-"=3754/%";$8"
5%/"&;--/'$%"3@"-./('"&'385?-%,"3'"83$X-"<;$-"-3"4;D/"-.(%"8;-;";??/%%(67/"-3"-./";5-.3'(-(/%"3'"
-./"&567(?A"L3'"/H;4&7/n"
!! -./'/"(%";"7;?D"3@"8;-;"3$"-./";435$-%"3@"U(5'3$"5%/8"($"&;'-(?57;'"?35$-'(/%"R/A)A"
f/'4;$>S";$8"($"(4&3'-;$-";'/;%"3@"5%/"35-%(8/";)'(?57-5'/"R;%";"<//8ND(77/'";$8";$";$-(N
@357($)"%56%-(-5-/"@3'"BZBSa""
!! -./'/"(%";"7;?D"3@"8;-;"3$"-./".(%-3'(?;7"8/=/73&4/$-"3@"&'385?-(3$"=3754/%";$8"5%/"
&;--/'$%"3@"%56%-;$?/%,"%5?.";%"?;84(54"3'"7/;8,"<.(?.";'/"5%/8"($")338%"<(-.";"73$)"7(@/A"
"
>N>***\-(C*%/*&-#-*%"*(8-$-(#5$)2#)(*@$%@5$#)52*%/*2'42#-"(52**
"
B38;>,"-./'/"(%"%-(77";"7;?D"3@"6;%(?"8;-;"3$"-./"/$=('3$4/$-;7"6/.;=(35'";$8"&3%%(67/"6(373)(N
?;7"/@@/?-%"3@"43%-"/H(%-($)"%56%-;$?/%A"0=/$";43$)"-./"*,e++"C5;$-(-;-(=/7>"43%-"(4&3'-;$-""
?./4(?;7%" ($" -./" 01," ?34&7/-/" 8;-;" 3$" ?.;';?-/'(%-(?%" '/7/=;$-" @3'" -./" /$=('3$4/$-" (%"
;=;(7;67/"@3'"3$7>"@(=/"&/'"?/$-,"6;%(?"8;-;"'/C5('/8"6>"7;<"@3'"T!"&/'"?/$-";$8";6%375-/"4($(N
454"8;-;"(%"3$7>"3$".;$8"@3'"ev"&/'"?/$-ATt"
0=/$" <./'/" -./" 437/?57;'" %-'5?-5'/" ;$8" &.>%(?;7N?./4(?;7" ?.;';?-/'(%-(?%" 3@" ;" ?./4(?;7"
%56%-;$?/";$8"(-%"5%/"&;--/'$"%5))/%-"-.;-"(-"4().-";??5457;-/"($"-./"/$=('3$4/$-,"4;$5@;?N
-5'/'%".;=/"%3"@;'"@;(7/8"-3";8/C5;-/7>"/H;4($/"-./"'(%D%A"B.5%,"-;D($)"($85%-'(;7"?./4(?;7%";%"
;$"/H;4&7/,"3$7>"';'/7>"($@3'4;-(3$"(%";=;(7;67/"3$"-./"8/)';8;6(7(->"($"-./";-43%&./'/,"-./('"
-3H(?(->"@3'"%/8(4/$-"3');$(%4%,"3'"&3%%(67/"(4&;?-%"3$"4;'($/"4;44;7%"3'"6('8%A":7;%-(?(%/'%"
7(D/"U0K:";$8"4/8(54N?.;($"?.73'($;-/8"&;';@@($%";'/"/H;4&7/%"3@-.(%"7;?D"3@"D$3<7/8)/A"
"""""""""""""""""""""""""""""""""""""""""""""""""
Tt
"05'3&/;$"2344(%%(3$n":567(?"W=;(7;6(7(->"3$"01"K().":'385?-(3$"_3754/"2./4(?;7%a"!EEE"
"
!e"
>NA***I-=-$&%'2*2'42#-"(52*"%#*$5(%O5$5&*-#*#85*5"&*%/*25$O)(5*1)/5*
"
B./"4;$5@;?-5'/'%"3@"?./4(?;7"%56%-;$?/%"83$X-"G-.($D"-.'35).G"-./"&;-."-./('"&'385?-%"-;D/"
-(77" -./" /$8" 3@" -./('" %/'=(?/" 7(=/%A" B.(%" (%" /=(8/$-," @3'" /H;4&7/," @3'" -./" $3$N@5$?-(3$($)"
'/?3=/'>" %>%-/4%" @3'" 6;--/'(/%" ?3$-;($($)" ?;84(54" ;$8" &7;%-(?" &'385?-%" ?3$-;($($)" ./;=>"
4/-;7%A"^/;8"%-(77";??5457;-/%"($"-./"-/?.$3%&./'/,"7;$8@(77%,"65(78($)%,"-/?.$(?;7"($%-;77;-(3$%"
;$8"=/.(?7/%A"#-%";??5457;-(3$"?;$"&'385?/"?'(-(?;7"/4(%%(3$%"($"-./"@5-5'/"/=/$"(@"';-/%"3@"73%%"
;'/"'/7;-(=/7>"73<A""
W"@5'-./'"/H;4&7/"3@"7;?D"3@"'/%&3$%(6(7(->"(%"-./"<;%-/"8(%&3%;7"3@"?/'-;($"&'385?-%"?3$-;($($)"
@7;4/" '/-;'8;$-%A" P;$5@;?-5'/'%" .;=/" 3$7>" %-;'-/8" -3" ;?D$3<7/8)/" -.;-" <;%-/" 8(%&3%;7" (%" ;"
4;]3'";%&/?-"3@"&'385?/'O%"'/%&3$%(6(7(->"5$8/'"-./"&'/%%5'/"3@"01"<;%-/"7/)(%7;-(3$,"7(D/"@3'"
/H;4&7/"3$"/$8N3@N7(@/"=/.(?7/%"R0^_S"3'"/7/?-'3$(?"<;%-/A"""
"
9(-." ;77" %/4(N=37;-(7/" 3');$(?" %56%-;$?/%Tv" 5%/8" ($" 7;')/" C5;$-(-(/%" %5?." ;%" ;88(-(=/%" ($"
&37>4/'%" -./'/" (%" -./" ;88(-(3$;7" &'367/4" m" ;%" <(-." &7;%-(?(%/'%" 7(D/" U0K:" ;$8" ?.73'($;-/8"
&;';@@($%"m"-.;-"-./>"?;$"/%?;&/"@'34"<;%-/"%(-/%"<(-."7;$8@(77");%A"B./'/";'/".;'87>";$>"8;-;"
3$" -./" -/4&3';7" 8>$;4(?%" 3@" -./%/" /4(%%(3$%" ;$8" -./" ?3$-'(65-(3$" -./>" 4;D/" -3" 3=/';77"
'/7/;%/%A"
*
>NJ***\),)#5&*1)-4)1)#.*
"
B./" 457-(-58/" 3@" %>$-./-(?" ?./4(?;7%" ($" /?3%>%-/4%," @338," ;$8" -./" /$=('3$4/$-%" ($" <.(?."
&/3&7/"7(=/";$8"<3'D"4/;$"-.;-"3$7>"($"-./"';'/%-"?;%/%"?;$"?.'3$(?"8;4;)/"<(-.35-"8356-"6/"
-';?/8" 6;?D" -3" ;" %&/?(@(?" ?./4(?;7" 4;8/" 6>" ;" %&/?(@(?" 4;$5@;?-5'/'A" B./" '(%D" 3@" 6/($)"
?3$@'3$-/8"<(-."7(;6(7(->"?7;(4%"<./$"-./('"&'385?-%";&&/;'"($"'(=/'"<;-/',")'35$8<;-/',"@(%.,"
%/;7%"3'".54;$"6'/;%-"4(7D"R7(D/"@3'"/H;4&7/"<(-."U0K:,"?.73'($;-/8"&;';@@($,"$3$>7&./$37"3'"
45%D"?34&35$8%S,"(%";??3'8($)7>"73<"@3'"43%-"4;$5@;?-5'/'%A"W$8"%($?/"(-"(%"$3-"@3'6(88/$"
@3'" ($85%-'(;7" ?./4(?;7%," &/%-(?(8/%" ;$8" &.;'4;?/5-(?;7%" -3" ;&&/;'" ($" -./" /$=('3$4/$-," @;'"
'/43-/"@'34"-./"73?;-(3$"3@"5%/,"-./>"83"$3-"$//8"-3"@/;'"'/&/'?5%%(3$%"($"-./"@3'4"3@"7/);7"
&/$;7-(/%"/(-./'A"B.(%"4/;$%"-.;-"$/(-./'"7;?D"3@"&7;$$($)"($"-./"&'385?-X%"7(@/N?>?7/"$3'"7;?D"3@"
?3$-'37"3$"@73<%"3@"%56%-;$?/%".;=/"7/8"-3"%;$?-(3$%"<.(?."4().-"%>%-/4;-(?;77>"/$-/'"($-3";$"
/$-/'&'(%/X%" @($;$?(;7" ?;7?57;-(3$%" R($" -./" @3'4" 3@" ($%5';$?/" &'/4(54%," @3'" /H;4&7/SA" B.5%,"
-./'/" (%" =('-5;77>" $3" %5@@(?(/$-" /?3$34(?" ($?/$-(=/" -3" 8/=/73&" G($./'/$-7>" %;@/G" ?./4(?;7"
&'385?-%"3'"%>%-/4%"@3'"-./('"5%/TFA""
*
>NS***MF@%2'$5*%/*(%"2',5$2*-"&*#85*5"O)$%",5"#*-2*-*$52'1#*%/*8)78*,-$C5#*O%1',52**
"
Q34/" /H(%-($)" %56%-;$?/%" ;'/" &7;?/8" 3$" -./" 4;'D/-" 3$" ;" %?;7/" 3@" %/=/';7" .5$8'/8%" 3@"
-.35%;$8%" 3@" -3$$/%" &/'" >/;'," ;$8" ;'/" <(8/7>" 8(%-'(65-/8" -.'35)." %3?(/->" ;%" ;" ?34&3$/$-" 3@"
?34&7/H"&'385?-%A":.-.;7;-/%";$8"7/;8";'/"/H;4&7/%"3@"%56%-;$?/%"4;'D/-/8"($"%5?."=/'>".()."
=3754/%A" B./('" 436(7(->" ;$8J3'" /'38($)" ?3$8(-(3$%" 5$8/'" <.(?." -./>" ;'/" 5%/8" ?;5%/" 8(@@5%/"
73%%/%" @'34" %5'@;?/%" <.(?." '/%57-" ($" -./('" <(8/%&'/;8" 3??5''/$?/" ($" -./" /$=('3$4/$-A" #@"
?./4(?;7"%56%-;$?/%";'/"&7;?/8"3$"-./"4;'D/-"($"%5?."=3754/%";$8"6/?34/"%3"<(8/%&'/;8"($"
%3?(/->" ;" G?73%/8" %>%-/4G" (%" ;743%-" (4&3%%(67/" -3" (4&7/4/$-A" Q5?." %56%-;$?/%" 45%-"
;??3'8($)7>" 6/" G($./'/$-7>" %;@/G," ;" 8/=/73&4/$-;7" )3;7" <.(?." 5$-(7" $3<" .;%" .;'87>" 6//$"
"""""""""""""""""""""""""""""""""""""""""""""""""
Tv
"Y');$(?"%56%-;$?/%"<.(?.";'/"7/%%"=37;-(7/"-.;$"%37=/$-%"65-"$/=/'-./7/%%"-./"=;&35'"&'/%%5'/"(%".()."/$35).,"
-3"/$-/'"($-3"-./";-43%&./'/"R($"&;'-(?57;'";-"($?'/;%($)"-/4&/';-5'/SA"B./>"4;>""&3%%(67>"8/&3%(-";);($"3$"%3(7%"
;$8"<;-/'A;-"8/?'/;%($)"-/4&/';-5'/%A""
TF
"B./"&'3&/'-(/%"3@"G($./'/$-7>"%;@/G"&'385?-%"R?./4(?;7,"&.>%(?;7,"-3H(?373)(?;7S"%.3578"/$%5'/"-.;-"%;@/"5%/"(%"
&3%%(67/"<(-.35-"%()$(@(?;$-"'(%D"4;$;)/4/$-"/@@3'-%A"
"
!t"
'/;7(%/8"6>"4;$5@;?-5'/'%A"
W$" ($8(?;-3'" 3@" -./" 8(@@5%/" '/7/;%/" 3@" .().N=3754/," %/4(N=37;-(7/" %56%-;$?/%" ;$8" 4/-;7%" (%"
-./('" ?3$?/$-';-(3$" ($" %/<;)/" %758)/," .35%/.378" 85%-" ;$8" 85%-" ($" -./" 35-%(8/" ;('" ($" ?(-(/%A"
f(=/$" -./" 7;')/" ;435$-%" ($" <.(?." -./%/" ?./4(?;7%" ;7'/;8>" /H(%-" ($" 73$)N7(@/" &'385?-%" ;$8"
7;$8@(77%,"?3$?/$-';-(3$%"4;>"($?'/;%/"@5'-./'"($"-./"$/H-"@/<"8/?;8/%"/=/$"(@"-./('"5%/"</'/"-3"
%73<7>"8/?7($/A"B./"%-(77"3$)3($)"&';?-(?/"($"-./"01"3@"8/&73>($)"%/<;)/"%758)/"($";)'(?57-5'/"
?;$"?;5%/";88(-(3$;7"?3$-;4($;-(3$"3@"%3(7%";$8"-./"@338"&'385?/8"3$"-./4A"
"
>N]***T%*)"(5"#)O52*#%*'25*1522*8-=-$&%'2*2'42#)#'#52**
"
B./" ;(4" 3@" -./" &'/%/$-" '(%D" ;%%/%%4/$-" &'3)';4" @3'" /H(%-($)" ?./4(?;7%" ($" -./" 01" ;$8" -./"
'/%57-($)"4;'D/-($)";$8"5%/"'/%-'(?-(3$%"(%"%-(77"-3"8/-/'4($/"-./";6%375-/"'(%D"@'34";"%56%-;$?/"
($"/;?.";'/;"3@"5%/A"B./"-.'/%.378";-"<.(?."($-/'=/$-(3$%";'/"4;8/"(%"'/7;-(=/7>".().,";$8"-./"
65'8/$"3@"&'33@"7(/%"<(-."-./";5-.3'(-(/%A"B.(%"(%"85/"-3"-./"@;?-"-.;-"@3'"%56%-;$?/%"<.(?."</'/"
&7;?/8" 3$" -./" 4;'D/-" 6/@3'/" !EF!" 4;$5@;?-5'/'%" ;'/" $3-" 7/);77>" 367()/8" -3" /H;4($/" -./"
G%;@/->G"3@"-./"&'385?-%"-./"%56%-;$?/%";'/"?3$-;($/8"($A""
#$?/$-(=/%"@3'"($85%-'>"-3"8/=/73&";$8"5%/";7-/'$;-(=/%";'/"-./'/@3'/"=/'>"73<A"0H;4&7/%"3@"-./"
/H-'/4/7>" %73<" %56%-(-5-(3$" 3@" 8;$)/'35%" %56%-;$?/%" 6>" ;7'/;8>" ;=;(7;67/" ;7-/'$;-(=/%" ($"
05'3&/" ($?758/n" %56%-(-5-(3$" 3@" %-;6(7(%/'%" ?3$-;($($)" ?;84(54" ;$8" 7/;8" ($" :_2" &'385?-%,"
$3$>7&./$37/-.3H>7;-/%" ($" ?7/;$($)" ;)/$-%," 6'34($;-/8" @7;4/" '/-;'8;$-%" ($" &7;%-(?" &'385?-%,"
;$8"3');$3-($"?34&35$8%"($"6(3?(8/"&;($-%A"W77"@35'"&'367/4";'/;%".;=/"6//$";"&567(?"(%%5/,"
;-"7/;%-"($"f/'4;$>,"-./"d/-./'7;$8%";$8"-./"d3'8(?"?35$-'(/%,"%($?/"-./"4(8N!EF+%A""
"
>N^***M"(%'$-7)"7*"5L*,-$C5#2*/%$*8-=-$&%'2*2'42#-"(52*
"
B./"/=;75;-(3$"3@"/H(%-($)"%56%-;$?/%"?5''/$-7>"&';?-(%/8"($"-./"01"/%-;67(%./%"-./"$/?/%%(->"
3@" -;D($)" 4/;%5'/%" -3" '/85?/" '(%D%" '/7;-/8" -3" &;'-(?57;'" 5%/%" 3'" &;'-(?57;'" %($)7/" %56%-;$?/%A"
B./"5%/"3@"%.3'-N?.;($"?.73'($;-/8"&;';@@($%"($"4/-;7"&'3?/%%($)"@75(8%,"@3'"/H;4&7/,".;%"6//$"
6;$$/8A"Y-./'";'/;%"3@"5%/"'/4;($";$8"-./"&'385?/'%"4;>"($8//8"/H-/$8"%5?.";&&7(?;-(3$%"%3"
;%"-3"4;D/"%5'/"/H(%-($)"&'385?-(3$%"?;&;?(-(/%";'/"5%/8A"#$";88(-(3$"%.3'-N?.;($"?.73'($;-/8"
&;';@@($%" ;'/" 6/($)" %56%-(-5-/8" 6>" 4/8(54N?.;($" &;';@@($%" ;7-.35)." -./>" 7(D/<(%/" 8(%&7;>" ;"
:BZTE"&'3@(7/,";76/(-"<(-."73</'"6(3;??5457;-(3$"@;?-3'%A"W"%(4(7;'"&'3?/%%"?;$"6/"36%/'=/8"
<(-." 45%D" ?34&35$8%A" U/%&(-/" 6/($)" )'/;-7>" %(4(7;'" ($" -./('" :BZ" &'3@(7/," -./" 5%/" 3@" $(-'3N
45%D" ?34&35$8%" (%" 8/?7($($)," 65-" &37>?>?7(?" 45%D" ?34&35$8%" ?3$-($5/" -3" 6/" 5%/8" R%//"
%/?-(3$"*A*"($"&;'-"ZSA"
W" &'3?/%%" 3@" %56%-(-5-(3$" <.(?." ($" /;?." ?;%/" .;%" ?3$-'(65-/8" $3-.($)" -3<;'8%" ;" 73$)N-/'4"
%375-(3$".;%";7%3"3??5''/8"<(-."6'34($;-/8"@7;4/"'/-;'8;$-%"($"-./"&;%-"!e">/;'%A":37>6'34($N
;-/8"6(&./$>7%"</'/"'/&7;?/8"6>"8(&./$>7/-./'";$8"-./$"-3"%34/"/H-/$-"6>"-/-';6'346(%&./$37"
W" ;$8" =;'(35%" 3-./'" 6'34($;-/8" 3');$(?" ?34&35$8%A" #$85%-'>" .;%" ($?'/;%/8" -./" 7/=/7" 3@"
6'34($;-(3$" ($" %56%-;$?/%" ($" 3'8/'" -3" '/85?/" -./('" 436(7(->" ;$8" 6(3N;=;(7;6(7(->A" B.(%" .;%"
'/%57-/8"($"($?'/;%($)"-./".;73)/$"?3$-/$-"3@"<;%-/"%-'/;4%A"#$"-./"?;%/"3@"8/?;6'348(&./$>7"
/-./'" -./'/" ;'/" 43'/3=/'" %()$%" -.;-" -';$%@3'4;-(3$" &'3?/%%/%" -;D/" &7;?/" ($" -./" /$=('3$4/$-,"
($?'/;%($)"(-%"6(373)(?;7";=;(7;6(7(->"R-.'35)."73%%"3@"6'34($/";-34%S,"<(-.35-"-.(%"7/;8($)"-3"
?34&7/-/" 8/?34&3%(-(3$`+A" B./'/" (%" ;7%3" /4/')($)" /=(8/$?/" 3@" -./" &'/%/$?/" 3@"
8/?;6'348(&./$>7" /-./'" ($" ?/'-;($" 6('8%" 3@" &'/>" ;-" -./" -3&" 3@" -./" @338" ?.;($" N" ;" @5'-./'"
(775%-';-(3$"-.;-"%5?."%56%-(-5-(3$"%-';-/)(/%";'/"$3-"<3'D($)"($"-./"73$)"-/'4A"
"""""""""""""""""""""""""""""""""""""""""""""""""
TE
"&/'%(%-/$-,"6(3;??5457;-(=/,"-3H(?"%56%-;$?/"
"U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"3$"U/?;6'348(8&./$>7/-./',"*++!"
`+
"
!v"
>N_***B515-25*%/*@5$2)2#5"#*2."#85#)(*2'42#-"(52*(%"#)"'52*#%*45*-11%L5&*
"
B./'/" (%" 6;%(?;77>" ;" 7(4(-" -3" -./" &'/8(?-;6(7(->" 3@" -./" 73$)N-/'4" /$=('3$4/$-;7" (4&;?-%" 3@"
?./4(?;7" %56%-;$?/%" @3'/()$" -3" $;-5'/A" 2./4(?;7%" <.(?." ?;$$3-" 6/" 8/)';8/8" C5(?D7>" ($" -./"
/$=('3$4/$-" ;$8" ;'/" @5'-./'43'/" ;=;(7;67/" -3" 3');$(%4%" ?3$%-(-5-/" ;" '(%DA" B<3" &;'-(?57;'7>"
(4&3'-;$-")'35&%"3@".;M;'835%"%56%-;$?/%"35).-"$3-"-3"/$-/'"-./"/$=('3$4/$-n"
!! 6(373)(?;77>".().7>"&3-/$-"%56%-;$?/%"7(D/"&/%-(?(8/%,"6(3?(8/%,"&.;'4;?/5-(?;7%,"=/-/'($;'>"
&.;'4;?/5-(?;7%";$8";"$546/'"3@"R5$($-/$-(3$;77>S"6(373)(?;77>";?-(=/"($85%-'(;7"?./4(?;7%"
R/A)A" .3'43$/N7(D/" %56%-;$?/%" %5?." ;%" $3$>7&./$37S" <.(?." 83" $3-" %5@@(?(/$-7>" C5(?D7>"
8/)';8/"($"-./"/$=('3$4/$-";$8"
!! &/'%(%-/$-" ?./4(?;7%" ;$8" 6>N&'385?-%" <.(?." -/$8" -3" 6(3N;??5457;-/";$8" ?;$" -./'/@3'/" ($"
-./"73$)"-/'4"/H?//8"?'(-(?;7"?3$?/$-';-(3$%";-"-./".()./'"%-;)/%"3@"-./"@338"?.;($"R7(D/"@3'"
/H;4&7/"%.3'-"?.;($"?.73'($;-/8"&;';@@($"3'"&/$-;6'343"8(&./$>7/-./'SA"
"
d/=/'-./7/%%,"&/'%(%-/$-";$8"6(3;??5457;-(=/"%56%-;$?/%";'/"%-(77"5%/8"35-%(8/"?73%/8"@;?(7(-(/%,"
<(-." -./" ?3$%/C5/$?/" -.;-" -./>" '/;&&/;'" ($" ;$(4;7%," @338" 3'" 6'/;%-" 4(7DA" Q.3'-N?.;($" ;$8"
4/8(54N?.;($" ?.73'($;-/8" &;';@@($%" ;'/" @35$8" ($" ;" =;'(/->" 3@" &'385?-%" R/A)A" &7;%-(?," 4/-;7"
&'3?/%%($)," 7/;-./'" &'3?/%%($)S," ;%" ;'/" 45%D" ?34&35$8%" ($" ?3%4/-(?%" ;$8"
$3$>7&./$37/-.3H>7;-/%"($"?7/;$($)";)/$-%A""
Q56%-;$?/%" <.(?." ;'/" 8/%()$/8" -3" ($-/'=/$/" ($" 6(373)(?;7" &'3?/%%/%" R/A)A" &/%-(?(8/%" 3'"
&.;'4;?/5-(?;7%S";'/"($"4;$>"?;%/%"%3"<(8/7>"5%/8";$8J3'"%3"%73<7>"8/)';8($)"($"'(=/'%"-.;-"
?3$?/$-';-(3$%"?7/;'7>"/H?//8"-./"+A!"x)J7"7/=/7`!"($"05'3&/;$"'(=/'%A"
"
>NP**I-=-$&%'2*&5(%,@%2)#)%"*@$%&'(#2*6,5#-4%1)#52:"
"
9./$" -/%-%" 3$" 6(373)(?;7" 8/)';8;6(7(->" ;'/" ($-/'&'/-/8," -33" 7(--7/" ;--/$-(3$" (%" %-(77" &;(8" -3" -./"
?'/;-(3$"3@"-3H(?";$8"&3%%(67>"&/'%(%-/$-";$8J3'"436(7/"8/?34&3%(-(3$"&'385?-%A"Y@-/$"(-".;%"
6//$"?3$?758/8"@'34";"'/7;-(=/7>"';&(8"&'(4;'>"8/?34&3%(-(3$"3@";"?./4(?;7"($";"7;63';-3'>"
-/%-" -.;-" -./" %56%-;$?/" &'/%/$-%" $3" &'367/4" @3'" -./" /$=('3$4/$-A" Z/?;5%/" 3@" -.(%" <'3$)"
&'/%54&-(3$"($";"<.37/"%/'(/%"3@"?;%/%"-;D($)"4/;%5'/%"-3"4($(4(%/"'(%D%".;%"6//$"8/7;>/8"@3'"
4;$>">/;'%A"B./"6())/%-"&'3&3'-(3$"3@"T,`"8(?.73';$(7($/"?3$?/$-';-(3$"($"'(=/'%,"@3'"/H;4&7/,"
%-/4%"@'34"-./"8/?34&3%(-(3$"3@"-./"&/%-(?(8/%";$8";?-(=/"%56%-;$?/%"($"-./"6(3?(8/%"8(5'3$"
;$8"-'(?.73'?;'6;$(7(8/`*A"W"4;]3'"%35'?/"3@"$3$>7&./$37"?3$?/$-';-(3$%"(%"-./"6(38/)';8-(3$"
3@" $3$>7&./$37/-.3H>7;-/%A" W" @5'-./'" /H;4&7/" (%" -./" &3%%(67/" 8/6'34($;-(3$" 3@" .().7>"
6'34($;-/8"@7;4/"'/-;'8;$-%"5$8/'"/$=('3$4/$-;7"?3$8(-(3$%,"'/%57-($)"($";$"($?'/;%/"3@"-./('"
6(373)(?;7";=;(7;6(7(->A"
*
3-415*J*[*G5(%,@%2)#)%"*@$%&'(#2*(-'25*5"O)$%",5"#-1*@$%415,2"
Q56%-;$?/"($"?344/'?(;7" L5$?-(3$"3@"
&'385?-%"
%56%-;$?/"
K;M;'835%"8/?34N
&3%(-(3$"&'385?-"
W88(-(3$;7".;M;'835%"@/;-5'/";%";"
'/%57-"3@"8/?34&3%(-(3$"
d3$>7&./$37/-.3H>7;-/"
d3$>7&./$37"
Q73<"8/?34&3%(-(3$"
Q5'@;?-;$-"
Z(3;??5457;-(3$"
"""""""""""""""""""""""""""""""""""""""""""""""""
`!
"01"-.'/%.378"@3'"-./"C5;7(->"3@"<;-/'"($-/$8/8"@3'"8'($D($)"<;-/'"&'385?-(3$a"-.(%"-.'/%.378"(%".3</=/'"$3-"
$/?/%%;'(7>"&'3-/?-(=/"@3'"<;-/'"/?3%>%-/4%A""""
`*
"01"V(%D"W%%/%%4/$-"V/&3'-"3$"T,`"U(?.73';$(7($,"*++!"
"
!F"
Q56%-;$?/"($"?344/'?(;7" L5$?-(3$"3@"
&'385?-%"
%56%-;$?/"
K;M;'835%"8/?34N
&3%(-(3$"&'385?-"
W88(-(3$;7".;M;'835%"@/;-5'/";%";"
'/%57-"3@"8/?34&3%(-(3$"
0$83?'($/"/@@/?-"3$"@(%."
2.'3$(?;77>"=/'>"-3H(?"@3'";7);/"
^($5'3$,"8(5'3$,"
-'(?.73'?;'6;$(7(8/%"
:/%-(?(8/,"
P5%D"H>7/$/"
L';)';$?/""
P5%D"D/-3$/"
U/?;6'348(&./$>7"/-./'"
T,`"8(?.73';$(7($/"
6(3?(8/"
Z(3;??5457;-(3$"
0$83?'($/"/@@/?-"3$"@(%."
W4($3N45%D"
#$?'/;%/"($"/?3-3H(?(->"
234&35$8%"
L7;4/"'/-;'8;$-" B/-';N"-3"3?-;N
6'348(&./$>7"/-./'"
Z(3;??5457;-(3$"
#$?'/;%/"($"/?3-3H(?(->"
"
>N;Q***\-(C*%/*-((522*#%*)"/%$,-#)%"*%"*5O-1'-#)%"*%/*2'42#-"(52*
"
:567(?";??/%%"-3"/H(%-($)"($@3'4;-(3$"3$"&/%-(?(8/%"(%"%-(77"=/'>"7(4(-/8A"9.(7/"-./"/=;75;-(3$"
&'3?/%%"@3'"&'(3'(->"($85%-'(;7"?./4(?;7%".;%"6/?34/"'/7;-(=/7>"-';$%&;'/$-";$8";??/%%(67/"@3'"
-./" &567(?," &/%-(?(8/%" ?3$-($5/" -3" 6/" /=;75;-/8" G6/.($8" ?73%/8" 833'%G" R($" -./" 4;]3'(->" 3@"
?;%/%SA"Z5-"($"-./"/=;75;-(3$%"3@"($85%-'(;7"?./4(?;7%,"-33,"?/'-;($"($@3'4;-(3$"(%"-'/;-/8";%";"
?344/'?(;7"%/?'/-"R@3'"/H;4&7/" %56%-;$?/%X";??5457;-/8"4;'D/-" =3754/" ;$8" &;--/'$"3@"5%/S"
<(-.35-" 4;$5@;?-5'/'%" .;=($)" &'385?/8" /=(8/$?/" 3@" -./" $//8" @3'" -.(%" ($@3'4;-(3$" -3" 6/"
&'3-/?-/8"($";$>"%&/?(@(?"?;%/A"B./"7;?D"3@"($@3'4;-(3$"3$"-./"5%/"3@"%56%-;$?/%"($"&'385?-%"
4/;$%"-.;-"/7(4($;-($)".;M;'835%"%56%-;$?/%"@'34"&'385?-%";$8"&'3?/%%/%"?;$$3-"6/"%5&&3'-N
/8"/$35)."6>"4;'D/-"@3'?/%,"<.(7/"-./";5-.3'(-(/%";-"-./"%;4/"-(4/"83"$3-".;=/"-./"$/?/%%;'>"
'/%35'?/%"-3"6'($)";635-";"?34&'/./$%(=/"G?7/;$%($)G"3@"-./"4;'D/-A"
"
!E"
"
*+"
AN*B)2C*@$%/)152*
"
B./"4(%-;D/%"4;8/"($"?./4(?;7%"&37(?>"($"-./"7;%-"@/<"8/?;8/%"<(77"./'/"6/"(775%-';-/8"6>"
'/@/''($)"-3"-/$"4;%%N&'385?/8"?./4(?;7%"<.(?.".;=/"6//$"?.3%/$";%"'/&'/%/$-;-(=/A"W"
)';&.(?;77>"(775%-';-/8"'(%D"&'3@(7/"@3'"/;?."%56%-;$?/".;%"6//$"<3'D/8"35-,"5%($)";=;(7;67/"
($@3'4;-(3$"4;($7>"@'34"'(%D";%%/%%4/$-"&'3?/%%/%";-"01";$8"YQ:WV"7/=/7"R($?758($)"U';@-"
01"V(%D"W%%/%%4/$-S";&&7>($)"-./"%;4/"4/-.38"3@"8;-;"&'/%/$-;-(3$"@3'";77"%56%-;$?/%A"
9./'/"/;%(7>";??/%%(67/"'(%D";%%/%%4/$-"8;-;"(%"7;?D($),"-./");&%"($"($@3'4;-(3$";'/"$3-/8A"
B./"'(%D"&'3@(7/%";'/"6;%/8"3$"4;'D/-"?3$8(-(3$%"($"-./"4(8"!EE+%A"B./"($@3'4;-(3$"%35'?/%"
;'/"7(%-/8"5$8/'"/;?."%56%-;$?/"@;?-%.//-"($";&&/$8(?/%"ZT";$8"ZÀ"
"
"
*!"
AN;*D8#8-1-#52*
:.-.;7;-/%";'/"%>$-./-(?"3');$(?"4;%%N&'385?/8"?./4(?;7%"<.(?."($"-./"01".;=/";"4;'D/-"
=3754/"3@";635-"3$/"4(77(3$"-3$$/%A"#$"-./"4(8"!EE+%";635-".;7@"-.(%";435$-"<;%"U0K:A"
B./'/";'/"-/$"3'"43'/"4;$5@;?-5'/'%"($"05'3&/A"
U0K:"(%"5%/8"&'/834($;$-7>"($"&7;%-(?";'-(?7/%"4;8/"3@":_2"($"<.(?."&.-.;7;-/%";?-";%";"
&7;%-(?(%/'A"B.(%"4/;$%"-.;-"<./$";88/8"(-")(=/%"-./"&7;%-(?"4;-/'(;7"-./"@7/H(6(7(->"(-"
-/?.$(?;77>"$//8%A"#$"-/'4%"3@"C5;$-(->,"-./"43%-"%()$(@(?;$-";'-(?7/%"?3$-;($($)"U0K:";'/"
@733'"?3=/'($)%,"<;77&;&/',"%3@-"&'3@(7/%"R(A/A"833'%,"<($83<%,"/-?AS,"?;67/%,"%.3/"%37/%";$8"
?3;-/8"@;6'(?"R-;'&;57($%,"-/$-%,"73''(/%,"';($?3;-%SA"U0K:"(%";7%3"5%/8"($"&;($-%";$8"%/;7;$-%A"
U0K:".;%"=;'(35%"&'367/4;-(?"?.;';?-/'(%-(?%A"#-"(%"$3-"?./4(?;77>"635$8"-3"-./"&7;%-(?"4;-'(H"
65-"(%"%73<7>"'/7/;%/8"($-3"-./"/$=('3$4/$-,"-.(%".;&&/$($)"43'/"@3'?(67>"<./$"5%/8"35-%(8/"
-.;$"<./$"($%(8/"65(78($)%A"1$8/'"/$=('3$4/$-;7"?3$8(-(3$%"(-"83/%"$3-"8/)';8/"C5(?D7>"($"
<;-/'"3'"%/8(4/$-%A"U0K:";7%3"-/$8%"-3";??5457;-/"($"-./"638>"@;-"3@";C5;-(?"3');$(%4%,"
;7-.35)."(-"83/%$X-";&&/;'"-3"6(34;)$(@>"($"-./".()./'"7/=/7%"3@"-./"@338"?.;($A"U0K:X%".()."
4;'D/-"=3754/";$8"436(7(->"4/;$"-.;-"(-"(%"-3"6/"@35$8"($"'/7;-(=/7>".()."?3$?/$-';-(3$%"
;743%-"/=/'><./'/"N"($"'(=/'"<;-/'"\"!"x)J7,"%/8(4/$-%";$8"3');$(%4%"\"!+"4)JD),"6'/;%-"4(7D"
\"!++x)JD)"3@"@;-A"U0K:".;%"6//$"8/-/?-/8"($"%()$(@(?;$-"?3$?/$-';-(3$%"($"'/43-/"<;-/'"
/$=('3$4/$-%"7(D/"@3'"/H;4&7/"-./"3&/$"%/;A"
Z;%/8"3$"7;63';-3'>"-/%-%"U0K:"(%"?7;%%(@(/8";%""-3H(?"-3"'/&'385?-(3$"R(4&;('/8"@/'-(7(->,"
?;-/)3'>"##S"85/"-3"(-%"/@@/?-%"3$"'38/$-%A"#$=/%-();-(3$%";'/"?5''/$-7>"6/($)"4;8/"3$"(-%"
&3%%(67>".;'4@57"(4&;?-%"3$"@(%."($"<;-/'"/?3%>%-/4%A"0H&3%5'/"-3"?3$%54/'%"R($"&;'-(?57;'"
($@;$-%S"-.'35)."@338,"-./"7(=($)"/$=('3$4/$-";$8"6'/;%-"4(7D"(%"'/);'8/8";"'(%D"3@"?3$?/'$A"
f(=/$"-./"<(8/7>"8(%&/'%/8"5%/"3@"U0K:,"-./"$546/'"3@"($85%-'(;7"&'3?/%%3'%"3@"&37>4/'"
&'385?-%"?3$-;($($)"U0K:"4;>"6/"%/=/';7""-/$"-.35%;$8%"3@"?34&;$(/%A"B./"$546/'"3@"
&3-/$-(;7"/$8"5%/'%"(%"($"/@@/?-"-./"&3&57;-(3$"3@"-./"01A"B.(%"4/;$%"=/'>"4;$>"&/3&7/"?34/"
($-3"8('/?-"?3$-;?-"<(-."U0K:A"
#@"(-".;%"$3-"6//$"'/7/;%/8"($-3"-./"/$=('3$4/$-"85'($)"&'385?-"%/'=(?/"7(@/"3'"'/4;($%"($"(-";-"
-./"/$8"3@"(-%"%/'=(?/"7(@/"R;%"@3'"/H;4&7/"<(-.";6';%(3$"@'34"'33@"%5'@;?/%"3'";%";"?34&3$/$-"
($"5$8/')'35$8"?;67/%S,"U0K:"(%"8(%&3%/8"3@";%"834/%-(?"3'"?3$%-'5?-(3$"<;%-/"R;@-/'"eNT+"
>/;'%SA"W);($,"%/=/';7"-.35%;$8%"3@"8(%&3%;7"?34&;$(/%";'/"($=37=/8"($"-.(%"($"05'3&/A"
B./";435$-"3@"U0K:"8('/?-7>"'/7/;%/8"($-3"-./"/$=('3$4/$-"R;(',"<;-/'";$8"%3(7%S"(%"/%-(4;-/8"
;-";635-"-.'//"&/'"?/$-"3@"(-%"4;'D/-"=3754/"&/'">/;'a"%34/"Fv"&/'"?/$-"/$8%"5&"($"7;$8@(77%"
;$8"3$7>";635-"-/$"&/'"?/$-"(%";?-5;77>"4($/';7(%/8";-"<;%-/"($?($/';-(3$";$8""-.5%"'/$8/'/8"
.;'47/%%A"B./";435$-"3@"U0K:"/$-/'($)"05'3&/;$"%3(7%"=(;"%/<;)/"%758)/"<.(?."(%"5%/8";%"
@/'-(7(%/'"($";)'(?57-5'/"(%"$3-"D$3<$A"
"
**"
Phthalates out of control
Environment
600.000 t/a
Mineralised
10%
480.000 t/a
350.000
500.000
3%
600.000
Landfilled
87%
Fate
’70-’80
’80-’90
after end
of service-life
’90-’00
Production
volume EU
Market
volume EU
in percent
of
market volume
DEHP = Diethylhexylphthalate
Critically exposed:
Plasticisers in Polymers
(mostly PVC)
Producers
Risk-Profile
Some producers may have changed their names or their business.
Information sources on producers in data annex 1
Most relevant uses
Soft plastic
profiles (doors,
windows) 13%
Toys,
baby equipment < 2%
Tarpaulin, tents,
rain coats 4,5%
Car undercoating
1,5%
Product Life-Cycle
Processing
Liability to bioaccumulate
Toxicity to water organisms
Toxic to reproduction, endocrine disruption
Measured concentration in fresh water
Cables 4,5%
Others 25%
Production
Biodegradation in water
Shoe soles 9%
Roofing material
1,5%
Wires, cables 13%
very high
concern
External use
Exposure
In % market volume
Interior use
Floor coverings and
wall papers 25%
high
concern
concern
Substance properties
BASF AG, D, E; BP Chemicals, UK; Celanese, D;
Driftal GPD, P; Elf Atochem, F;
Industrie Generali Spa, I; Lonza, I; Neste Oxo, E;
Neste Oy, FIN; Oxeno Olefinchemie, D; Plastificantes de
Lutxana, E; SISAS Pantochim, B; SISAS, B
Concentration in sediments
Concentration in organisms, food chain
Concentration in breast milk or blood
!* = relevant lack of data
Releases to the environment*
100-500 t/a
100-500 t/a
1000-5000 t/a
Potential
final users
Air/Water
> 5000 t/a
End-of-life
products
remaining
in the
enviroment*
Waste
treatment
Recovery of PVC
Important sources:
Floor cleaning indoor;
Roofs and tarpaulins;
Paints, Sealants
Unterground
cables 55%
Erosion from
PVC surfaces 45%
quantification
not possible
Stand: 3/2003 ©
AN>*E$%,)"-#5&*/1-,5*$5#-$&-"#2*
Z'34($;-/8"@7;4/"'/-;'8;$-%";'/";")'35&"3@"%>$-./-(?"3');$(?"4;%%N&'385?/8"?./4(?;7%"<.(?."
.;=/";"4;'D/-"=3754/"3@";635-"T*,+++"-3$$/%"&/'">/;'"($"-./"01A"W635-".;7@"3@"-.(%"(%"-/-';N
6'3436(%&./$37"W,";$8";"C5;'-/'"8/?;6'3438(&./$>7/-./'A"Y$7>"-<3"4;$5@;?-5'/'%";'/"7/@-"($"
05'3&/,"43%-"3@"-./"4;'D/-"=3754/"(%"(4&3'-/8"@'34"-./"1QWA"
Z'34($;-/8"@7;4/"'/-;'8;$-%";'/"5%/8"4;($7>"($"/7/?-'3$(?"&'($-/8"?('?5(-%";$8"3-./'"
?34&3$/$-%,"4;-/'(;7%"@3'"?;%($)%";$8".35%($)%"4;8/"3@"&37>%->'/$/,";$8"($%57;-($)"4;-/'(;7%"
4;8/"3@"&37>%->'/$/"R%->'3&3'S";$8";(4/8";-"&'3=(8($)"&'3-/?-(3$";);($%-"@7;44;6(7(->A""Z5-"
@7;4/"'/-;'8;$-%";'/";7%3"5%/8"($"5&.37%-/'/8"@5'$(-5'/,"?;'"%/;-%";$8"-/H-(7/%A"
Z'34($;-/8"@7;4/"'/-;'8;$-%".;=/"=;'(35%"&'367/4;-(?"?.;';?-/'(%-(?%A"P3'/"-.;$".;7@"3@"-./"
4;'D/-"=3754/"(%"$3-"?./4(?;77>"635$8"($"-./"&7;%-(?"4;-'(H"R;$"/H?/&-(3$"6/($)"BZZW"($"
43%-"3@"(-%"";&&7(?;-(3$%S,";$8"(%"-./'/@3'/"%73<7>"'/7/;%/8"($-3"-./"/$=('3$4/$-A"#$"%/<;)/"
&7;$-%";$8"5$8/'"/$=('3$4/$-;7"?3$8(-(3$%"6'34($;-/8"@7;4/"'/-;'8;$-%";'/"&/'%(%-/$-"($"<;-/'"
3'"%/8(4/$-%A"#$";88(-(3$,"73</'"6'34($;-/8"?34&35$8%";7%3"-/$8"-3";??5457;-/"($"638>"@;-"3@"
;C5/35%"3');$(%4%";$8"6(34;)$(@>"($"-./"@338"?.;($A"W7%3,"<(-.".()./'"6'34($;-/8"
%56%-;$?/%"7(D/"U/?;6'3438(&./$>7/-./',"-./'/"(%")'3<($)"/=(8/$?/"-.;-"-./>"/$-/'"($-3"-./"
@338"?.;($A"B./>".;=/"@3'"/H;4&7/"6//$"8/-/?-/8"($"@;7?3$O%"/))%A"B./'/";'/"43'/3=/'"
($8(?;-(3$%"-.;-".().7>"6'34($;-/8"?34&35$8%"R8/?;6'3438(&./$>7/-./',"@3'"/H;4&7/S"%73<7>"
8/6'34($;-/"($"-./"/$=('3$4/$-";$8"@3'4"-3H(?,"6(373)(?;77>";=;(7;67/"?34&35$8%A"234&;'/8"
-3"3-./'"&7;%-(?";88(-(=/%"%5?.";%"&7;%-(?(%/'%,"-./('"?3$?/$-';-(3$%"($"-./"/$=('3$4/$-";$8"($"
.54;$%";'/"->&(?;77>"73</'""N"($"'(=/'"<;-/'"z"+A!"x)J7,"%/8(4/$-%";$8"3');$(%4%"!N!+"4)JD),"
;$8"6'/;%-"4(7D"!N!+"x)JD)"3@"@;-A"B.(%"(%"6/?;5%/"3@"-./"73</'"4;'D/-"=3754/";$8"6/?;5%/"
-./>";'/"$3-"5%/8"($"35-833'";&&7(?;-(3$%A"W7%3,"-./"'/7/;%/"';-/%"3@".().7>"6'34($;-/8"
?34&35$8%";'/"73</'"%($?/"-./>";'/"7/%%"436(7/A"
#$"7;63';-3'>"-/%-%"@35'";$8"@(=/@378"6'34($;-/8"8(&./$>7/-./'"?;$"?;5%/"?.;$)/%"-3"-./"
6/.;=(35'"3@"'38/$-%A"Z5-"D$3<7/8)/"3@"%5?."/@@/?-%"($")/$/';7"(%"%-(77"C5(-/"@';)4/$-;'>A"
W??3'8($)"-3"-./"01X%"?'(-/'(;,"3?-;6'3438(&./$7>7/-./'"(%"-3"6/"?7;%%(@(/8"-3H(?"-3"
'/&'385?-(3$"R8/=/73&4/$-;7"/@@/?-%,"?;-/)3'>"##SA"B./%/"?34&35$8%";'/"=/'>"-3H(?"-3";C5;-(?"
3');$(%4%"R-.'/%.378"@3'"?.'3$(?"/@@/?-"zz!+"x)J7SA"B./"/H&3%5'/"3@"%/8(4/$-"3');$(%4%,"
4;'($/"4;44;7%,"6('8%,";$8"6;6(/%"=(;"6'/;%-"4(7D"(%"?3$%(8/'/8"-3"&3%/";"'(%D"3@"?3$?/'$A"
f(=/$"-./"6'3;8"5%/%"($=37=/8,"-./"$546/'"3@"-./"($85%-'(;7"&'3?/%%3'%"3@"6'34($;-/8"@7;4/"
'/-;'8;$-%"($"-./"01"?;$"6/"&5-";-"3=/'";"-.35%;$8"?34&;$(/%A"B./"$546/'"3@"&3-/$-(;7"@($;7"
?3$%54/'%"(%"-./"&3&57;-(3$"3@"-./"01A"B.(%"4/;$%"=/'>"4;$>"&/3&7/"?34/"($-3"8('/?-"?3$-;?-"
<(-."-./%/"%56%-;$?/%A"W-"-./"/$8"3@"-./('"%/'=(?/""7(@/,";'-(?7/%"?3$-;($($)"@7;4/"'/-;'8;$-%";'/"
8(%&3%/8"3@";%"834/%-(?"<;%-/,"?3$%-'5?-(3$"<;%-/"3'"/7/?-'3$(?"%?';&A"W);($,"%/=/';7"
-.35%;$8%"3@"8(%&3%;7"?34&;$(/%";'/"($=37=/8"($"-.(%"($"05'3&/A"#$";88(-(3$,"/7/?-'(?;7";$8"
/7/?-'3$(?";'-(?7/%";'/";7%3"%/&;';-/7>"'/?3=/'/8";$8"'/?>?7/8A"V/?>?7($)"<3'D/'%"?;$"6/?34/"
?3$-;4($;-/8";$8"/4(%%(3$%"3@"6'34($;-/8"8(3H($%";$8"@5';$%"?;$"3??5'A"B./"$546/'"3@"
?34&;$(/%"($=37=/8"($"/7/?-'3$(?"%?';&"($"-./"01"(%"/%-(4;-/8"-3"6/"</77"3=/'";".5$8'/8A"
B./"&;'-"3@"4;'D/-"=3754/"'/7/;%/8"($-3"-./"/$=('3$4/$-"R;(',"<;-/'";$8"%3(7%S"(%"/%-(4;-/8";-"
5&"-3"3$/"&/'"?/$-"&/'">/;'a"%34/"Fe"&/'"?/$-"/$8%"5&";-"<;%-/"8(%&3%;7"%(-/%";$8"7/%%"-.;$"-/$"
&/'"?/$-"(%";?-5;77>"4($/';7(%/8"($"<;%-/"8(%&3%;7"3&/';-(3$%A"#$";88(-(3$,"8(%4;$-7($)";$8"
'/?3=/'>"3&/';-(3$%"4;>"7/;8"-3"/4(%%(3$%"?3$-;($($)"6'34($;-/8"@7;4/"'/-;'8;$-%"R85%-S"3'"
.().7>"-3H(?"&'385?-%"7(D/"8(3H($%";$8"@5';$%A""
B./";435$-"3@"6'34($;-/8"@7;4/"'/-;'8;$-%"/$-/'($)"05'3&/;$"%3(7%"=(;"%/<;)/"%758)/"<.(?."
(%"5%/8";%"@/'-(7(%/'"($";)'(?57-5'/"(%"$3-"D$3<$A""
"
*`"
Brominated Flame Retardants out of control
Environment
Mineralised 1%
1999
32.000 t/a
9%
43% TBBA
25% HBCD
23% DecaBDE
Landfill
90%
6.000 t/a
Fate
only TBBA
after end
of service-life
Production
volume EU
Market
volume EU
in percent
of
market volume
Brominated Flame Retardants
Polybrominated Diphenylethers (PBDPE),
Polybrominated Biphenyles (PBB),
Tetrabrombisphenol A (TBBA),
Hexabromocyclododecane ( HBCDD)
Critically exposed:
Flame Retardant
Producers
Risk-Profile
Most relevant uses
In % market volume
PS insulating
substances 21%
high
concern
concern
Broomchemie/Dead Sea Bromine Group, NL (HBCD);
Great Lakes Manufacturing Ltd., UK (HBCD)
very high
concern
Liability to bioaccumulate1
Toxic to reproduction2, endocrine effects
Circuit board 30%
- highly brominated compounds: 1lower bioaccumulation 2Octabromo Diphenylether
Exposure
Polystyrol cabinet
material 13%
Polyester and
Polyamid for
electronic
components 7%
Textile coatings 5%
Others 24%
Product Life-Cycle
Releases to the environment
Production
1-10 t/a
Processing
1-10 t/a
Potential
final users
100-500 t/a
Water/Air/soil
100-500 t/a
End-of-life
products
remaining
in the
enviroment
Waste
treatment
Recycling of expanded polystyrene, recovery of electric and electronic waste
losses e.g. from
textiles, building
material
Brominated Dioxins und Furanes
from thermal treatment. Emission
of pentaBDPE with landfill gas
possible
Stand: 3/2003 ©
ANA*081%$)"-#5&*D-$-//)"2*
2.73'($;-/8"&;';@@($%";'/"%>$-./-(?"3');$(?"4;%%N&'385?/8"?./4(?;7%"<.(?.".;=/";"4;'D/-"
=3754/"3@"6/-<//$"t+,+++";$8"v+,+++"-3$$/%"&/'">/;'"($"-./"01A":'385?-(3$";&&/;'%"-3"6/"
%7().-7>"8/?7($($)A"B./'/";'/"@35'"?34&;$(/%"($"05'3&/"&'385?($)"%.3'-";$8"4/8(54"?.;($"
?.73'($;-/8"&;';@@($%A"B./"=3754/"&'385?/8"(%";635-"-<(?/"-./";435$-"5%/8"($"05'3&/A"
2.73'($;-/8"&;';@@($%";'/"5%/8"4;($7>"($"&7;%-(?";'-(?7/%"4;8/"3@":_2,"($"<.(?."-./>";?-";%";"
@7;4/"'/-;'8;$-";$8J3'"&7;%-(?(%/'A"B./>"/$%5'/"-./"-/?.$(?;77>"$//8/8"@7/H(6(7(->"3@"-./"&7;%-(?"
R/A)A"($"?;67/%SA"2.73'($;-/8"&;';@@($%";'/";7%3"5%/8"($"&;($-%";$8"%/;7;$-%A"Y-./'"(4&3'-;$-"
;'/;%"3@"5%/"";'/"4/-;7"?5--($)"@75(8%";$8"7/;-./'"@;--/$($)"7(C53'A"
Q.3'-";$8"4/8(54"?.;($"?.73'($;-/8"&;';@@($%".;=/"=;'(35%"&'367/4;-(?"&'3&/'-(/%A"W%"&7;%-(?"
;88(-(=/%"-./>";'/"$3-"@('47>"635$8"-3"-./"&7;%-(?"4;-'(H";$8";'/"%73<7>"'/7/;%/8"($-3"-./"
/$=('3$4/$-,"43'/"%3"<./$"5%/8"35-%(8/"-.;$"($"($833'"5%/%"R7(D/"U0K:SA"#$"%/<;)/"&7;$-%"
;$8"5$8/'"/$=('3$4/$-;7"?3$8(-(3$%"?.73'($;-/8"&;';@@($%";'/"&/'%(%-/$-";$8"?;$"6/"
-';$%&3'-/8"3=/'"73$)"8(%-;$?/%A"#$";88(-(3$,"-./>"-/$8""-3";??5457;-/"($"-./"638>"@;-"3@"
;C5;-(?"3');$(%4%";$8"-3"6(34;)$(@>"($"-./"@338"?.;($A"2.73'($;-/8"&;';@@($%";'/"@35$8"
;743%-"/=/'><./'/,"85/"-3"8(%?.;')/%"@'34"-./"5%/";%"4/-;7"?5--($)"@75(8";$8"-.'35)."73%%/%"
@'34"-./"5%/";%";88(-(=/"($"&7;%-(?"&'385?-%A"P3%-"$3-;67>,".3</=/',"-./>";??5457;-/"($"-./"
@338"?.;($,";$8";'/"@35$8"($"-./"@3773<($)"?3$?/$-';-(3$%"7/=/7%n"($"'(=/'"<;-/'"+A!N!"x)J7,"
%/8(4/$-%"+A!N!"4)JD),"4;'($/"4;44;7%"\"!+"4)JD),";$8"($"6'/;%-"4(7D"\"!+"x)JD)"3@"@;-A"
Y$";??35$-"3@"-./('"/@@/?-%"3$"'38/$-%"($"7;63';-3'>"/H&/'(4/$-%"?.73'($;-/8"&;';@@($%";'/"
%5%&/?-/8";%"6/($)"-3H(?"-3"'/&'385?-(3$";$8"?;'?($3)/$(?"R?7;%%"###SA"B./>";'/"=/'>"-3H(?"-3"
;C5;-(?"3');$(%4%A"B./"?3$-;4($;-(3$"3@"6'/;%-"4(7D";$8"-./"&3775-(3$"3@"%5'@;?/"<;-/'%"(%"
'/);'8/8";"'(%D"3@"?3$?/'$A"
f(=/$"-./"<(8/7>"8(%&/'%/8"5%/"3@"?.73'($;-/8"&;';@@($%,"-./"$546/'"3@"($85%-'(;7"&7;%-(?"&'3N
?/%%3'%"&3-/$-(;77>"5%($)"%.3'-";$8"4/8(54"?.;($"?.73'($;-/8"&;';@@($%"(%"/%-(4;-/8";-"%/=/';7"
-.35%;$8%"3@"?34&;$(/%"($"-./"01A"B./"$546/'"3@"?34&;$(/%"5%($)"?.73'($;-/8"&;';@@($%"($"
@3'457;-($)"756'(?;$-%";$8"3-./'"?./4(?;7"&'385?-%"?3578";7%3"6/"3=/'";"-.35%;$8A"B./"
$546/'"3@"&3-/$-(;7"/$8N?3$%54/'%"(%"-./"&3&57;-(3$"3@"-./"01A"B.(%"4/;$%"=/'>"4;$>"&/3&7/"
?;$"?34/"($-3"8('/?-"?3$-;?-"<(-."?.73'($;-/8"&;';@@($%A"
2.73'($;-/8"&;';@@($%"<.(?.".;=/"$3-"6//$"'/7/;%/8"($-3"-./"/$=('3$4/$-"85'($)"%/'=(?/"7(@/"3'"
<.(?."&/'4;$/$-7>"'/4;($"($"-./"/$=('3$4/$-";%"?34&3$/$-%"($"?/'-;($";'-(?7/%"R;%";6';%(3$"
@'34"'33@"%5'@;?/%"3'"5$8/')'35$8"?;67/%S";'/"8(%&3%/8"3@";%"834/%-(?"3'"?3$%-'5?-(3$"<;%-/"
R;@-/'"eNT+">/;'%SA"W);($,"%/=/';7"-.35%;$8%"3@"<;%-/"4;$;)/4/$-"?34&;$(/%"4;>"6/"
($=37=/8"($"-.(%"($"05'3&/A"2.73'($;-/8"&;';@@($%"($"-./"3(7"@';?-(3$"3@"4/-;7"?5--($)"@75(8%";'/"
5%5;77>"($?($/';-/8";%"($85%-'(;7"<;%-/,"65-";"43'/"3'"7/%%".()."&'3&3'-(3$"(%"@('%-";773</8"-3"
/$-/'"%/<;)/";@-/'"?./4(?;7N&.>%(?;7"<;%-/"-'/;-4/$-"R<;-/'"&.;%/";@-/'"%/&;';-(3$"3@"3(7SA"
W635-"@(=/"&/'"?/$-"3@"-./"4;'D/-"=3754/"&/'">/;'"(%"8('/?-7>"'/7/;%/8"($-3"-./"/$=('3$4/$-"
R;(',"<;-/'";$8"%3(7%Sa"%34/"Fe"&/'"?/$-"/$8%"5&"3$"7;$8@(77%";$8"3$7>";635-"-/$"&/'"?/$-"(%"
;?-5;77>"4($/';7(%/8"($"<;%-/"8(%&3%;7"3&/';-(3$%A""
B./";435$-"3@"?.73'($;-/8"&;';@@($%"/$-/'($)"05'3&/;$"%3(7%"=(;"%/<;)/"%758)/"<.(?."(%"5%/8"
;%"@/'-(7(%/'"($";)'(?57-5'/"(%"$3-"D$3<$A"
"
*t"
Chlorinated Paraffins out of control
Environment
114.000 t/a
Mineralised
5%
10%
app.
64.000 t/a
70.000
Landfilled
73.000
’94
Production
volume EU
Market
volume EU
after end
of service-life
’98
’97
85%
Fate
64.000
Production
development
in percent
of
market volume
Chlorinated Paraffins (CP)
-Short-chain (SCCP, C10-13),
-Medium-chain (MCCP, C14-17),
-Long-chain (LCCP, C>17)
Critically exposed:
Lubricants, plasticiser,
flame retardants
Producers
Risk-Profile
Most relevant
uses
high
concern
concern
Ineos Chlor Ltd, UK, F (SCCP, MCCP, LCCP);
Caffaro Caffaro S.p.A, I (SCCP, MCCP, LCCP);
Leuna Tenside, D (MCCP, LCCP);
Quimica del Cinca S.A., E (MCCP)
very high
concern
Carcinogene1 toxic to reproduction2
In % market volume
Plasticiser
in PVC
65%
Plasticisers in
varnishes,
adhesives and
sealing materials 9%
Flame retardant
in rubber 6%
„Fattening“ substance
in leather 2%
Exposure
Metal cutting
fluids 12%
1 SCCP 2 MCCP
Others 6%
Product Life-Cycle
Production
Processing
Potential
final users
100-500 t/a
1000-5000 t/a
Soil/Air/Water
medium-chain CP
in air or waste water
from PVC processing
Waste water from
metal processing;
waste water from
leather processing;
1000-5000 t/a
End-of-Life Prod.
remaining in the
enviroment*
Waste
treatment
Recovery of PVC
losses from
PVC and rubber
products
quantification
not possible
Stand: 3/2003 ©
ANJ*T%".1@85"%1*(%,@%'"&2*
"
d3$>7&./$37%"3'"$3$>7&./$37/-.3H>7;-/%"R;"&'385?-"($"-./"@5'-./'"&'3?/%%($)"3@"$3$>7&./$37S"
;'/"%>$-./-(?"3');$(?"4;%%N&'385?/8"?./4(?;7%A"B./"4;'D/-"=3754/"3@"$3$>7&./$37%"(%"
;&&'3H(4;-/7>"F+,+++"-3$$/%"&/'">/;'"($"-./"01,"&'385?/8"6>"-<3"05'3&/;$"?34&;$(/%A"
B./"4;($";'/;%"3@"5%/"3@"$3$>7&./$37%"3'"$3$>7&./$37/-.3H>7;-/%";'/"($85%-'(;7";$8"
?344/'?(;7"?7/;$($)";)/$-%,";5H(7(;'>"4;-/'(;7%"5%/8"($"4;D($)"&7;%-(?"&'385?-%"R/A)A"@338"
&;?D;)($)S,"-/H-(7/%,"7/;-./',";$8";%";"?34&3$/$-"($"&;($-%";$8"&/%-(?(8/%A"
d3$>7&./$37%";$8"$3$>7&./$37/-.3H(7;-/%".;=/"=;'(35%"&'367/4;-(?"?.;';?-/'(%-(?%A"W%";$"
;88(-(=/"3'"5$($-/$8/8"(4&5'(->"($"-/H-(7/%"3'"&7;%-(?%"-./>";'/"$3-"@(H/8"65-";'/"%73<7>"
'/7/;%/8"($-3"-./"/$=('3$4/$-,"/%&/?(;77>"($"<;%.($)"&'3?/%%/%A"9./$"?3$-;($/8""($"?7/;$($)"
;)/$-%"3'"&'3?/%%($)"@75(8%"-./>";'/"'/7/;%/8"8('/?-7>"($-3"-./"%/<;)/"%>%-/4A"#$"%/<;)/"&7;$-%"
;$8"($"-./"/$=('3$4/$-"$3$>7&./$37/-.3H>7;-/%"83"8/)';8/"'/7;-(=/7>"C5(?D7>,"65-";-"-./"%-;)/"
3@"$3$>7&./$37"-./"6(38/)';8;-(3$".;7-%";$8"-./$"&'3?//8%"45?."43'/"%73<7>A"W88(-(3$;77>,"
$3$>7&./$37%"-/$8"-3"6(3;??5457;-/"($"-./"638>"@;-"3@";C5;-(?"3');$(%4%A"U5/"-3"(-%"&;--/'$"3@"
5%/,"$3$>7&./$37"(%"@35$8"($"&';?-(?;77>";77"'(=/'%,"($"-./"@3773<($)"->&(?;7"?3$?/$-';-(3$%n"($"
'(=/'"<;-/'"+A!N!"x)J7,"%/8(4/$-%"\"!"4)JD),";$8"($"@(%."\"!"4)JD)A"d3$>7&./$37"(%"=/'>"-3H(?"
-3";C5;-(?"3');$(%4%A"#-"(%"%5%&/?-/8"-3"6/"-3H(?"-3"'/&'385?-(3$"R(4&;('/8"@/'-(7(->";$8"
8/=/73&4/$-;7"/@@/?-%,"?;-/)3'>"###S"6;%/8"3$";$(4;7"-/%-($)A"W88(-(3$;77>,".3'43$/"7(D/"
/@@/?-%"3$"@(%.".;=/"6//$"4/;%5'/8"($"-./"/$=('3$4/$-A"23$-;4($;-(3$"3@"%5'@;?/"<;-/'%"
&3%/%";"'(%D"-3";C5;-(?"3');$(%4%";$8"-3"3');$(%4%".()./'"($"-./"@338"?.;($"R/A)A"@(%."/;-($)"
@(%.SA"
U5/"-3"-./"<(8/%&'/;8"5%/"3@"$3$>7&./$37";$8"&'385?-%"?3$-;($($)"(-,"-./"$546/'"3@"($85%-'(;7"
5%/'%"(%"/%-(4;-/8";-"6/($)"4;$>"-.35%;$8%"3@"?34&;$(/%"($"05'3&/A"B./"$546/'"3@"&3-/$-(;7"
($85%-'(;7"5%/'%"?34&'(%/%"&';?-(?;77>"-./"<.37/"?344/'?(;7"%&./'/A"#$";88(-(3$"/=/'>"01"
?(-(M/$"?;$"?34/"($-3"8('/?-"?3$-;?-"<(-."$3$>7&./$37R/-.3H>7;-/%S"-.'35).""'/%(85/%"($"@338,"
&7;%-(?%"3'"-/H-(7/%A"B./'/"(%"%34/"($8(?;-(3$"-.;-"-./"?3$?/$-';-(3$"3@"$3$>7&./$37%"($".54;$"
6'/;%-"4(7D"(%"($"-./"';$)/"3@"!"-3"!+"x)JD)"@;-""R@()5'/"'/?;7?57;-/8"-3"@;-"?3$-/$-"3@"ÌSA"U5/"
-3"-./"5%/"3@"d3$>7&./$37"?34&35$8%"($"&;?D;)($)"4;-/'(;7,"@338"&'385?-%";'/"?3$-;4($;-/8"
<(-."$3$>7&./$37"5&"-3";"7/=/7"3@"%34/"!+"x)JD)"@'/%."</().-"Rf5/$-./',"oA"/-";7,"*++*SA""
W??3'8($)"-3"'35)."/%-(4;-/%";635-"-/$"&/'"?/$-"3@"-./"4;'D/-"=3754/"&/'">/;'"(%"'/7/;%/8"
8('/?-7>"3'"($8('/?-7>"($-3"-./"/$=('3$4/$-"R<;-/'";$8"%3(7%Sa"%34/"è"&/'"?/$-"(%"&'3?/%%/8"
($-3"3-./'"&'385?-%"3'"/$8%"5&"($"7;$8@(77%a";635-"è"&/'"?/$-"(%";?-5;77>"4($/';7(%/8"($"<;%-/"
<;-/'";$8"<;%-/"8(%&3%;7";$8"%3"'/$8/'/8".;'47/%%A"
"
"
*F"
Nonylphenolethoxylate out of control
Environment
10%*
All data:
t/a
118.000
NPE
73.500 77.600 78.500
NP
Production
volume:
constant
’94
Mineralised
NP
NPE
45%
Production
volume EU
Fate
- degradation
in waste water
treatment
or waste
incineration
’97
Market
volume EU
Landfilled
and/or
transformed
45%
after end
of service-life
- further
processing
into other
chemicals
in percent
of
market volume
Nonylphenolethoxylate (NPE)
and Nonylphenol (NP)
Critically exposed:
as building block in NPEs and metabolite
Non ionic surface-active substances
and intermediate
*90%
of this to
soil via
sewage sludge
Risk-Profile
Producers
of Nonylphenol
Most relevant uses
In % market volume
Sasol GmbH (ehem. Hüls AG) D;
Enichem S.P.A., I;
Institutional
cleaning
30%
Others 20%
Components
in Paints 5%
very high
concern
Toxic to reproduction,
disruption
krebserregend,
mutagen,endocrine
fortpflanzungsschädl.
Exposure
Auxiliary in plastic
production 12%
Auxiliary in textile
processing 10%
Intermediate
in the chemical
industry 9%
Auxiliary in leather
processing 8%
Components in
pesticides 6%
high
concern
concern
Product Life-Cycle
10-100 t/a
Production
from production of NPE
Processing
Potential
final users,
potential users
in agriculture
>5000 t/a
Water/Soil*
45% from Cleaning
15% from Textile finishing
6% from Leather processing
*90% of this to soil via
sewage sludge
Waste
treatment
No major relevance
Stand: 3/2003 ©
ANS*R'2C*(%,@%'"&2*6T)#$%,'2C*-"&*@%1.(.(1)(*,'2C*(%,@%'"&2:*
"
P5%D"?34&35$8%";'/"%>$-./-(?"3');$(?"?./4(?;7%,"-./"4;'D/-"=3754/"3@"<.(?."(%";635-"!,`++"
-3$$/%"&/'">/;'"($"-./"01A"B./"&'3&3'-(3$"3@"$(-'345%D"?34&35$8%"($"-.(%".;%"$3<"8'3&&/8"
-3"6/73<"@(=/"&/'"?/$-"3@"-./"4;'D/-"=3754/A"B./'/";'/"-.'//"&'385?/'%"($"05'3&/";$8";"@/<"
(4&3'-/'%A"
Q>$-./-(?"45%D"?34&35$8%";'/"5%/8";%";"%?/$-"($"?3%4/-(?"&'385?-%";$8"8/-/')/$-%"3<($)"-3"
-./")'/;-"35-7;>"'/C5('/8"($"36-;($($)"$;-5';7"45%D"%?/$-A"
P5%D"?34&35$8%,"/%&/?(;77>"$(-'345%D"?34&35$8%,".;=/";"$546/'"3@"&'367/4;-(?"
?.;';?-/'(%-(?%A"1$8/'"/$=('3$4/$-;7"?3$8(-(3$%,"%>$-./-(?"45%D"?34&35$8%"3$7>"%73<7>"
6(38/)';8/"($"<;-/'"3'"%/8(4/$-%,";$8"($"%/<;)/"&7;$-%";'/"$3-"?34&7/-/7>"/7(4($;-/8A"#$"
;88(-(3$,"45%D"?34&35$8%"-/$8"-3"6(3;??5457;-/"($"-./"638>"@;-"3@";C5;-(?"3');$(%4%A"U5/"-3"
-./('"&;--/'$"3@"5%/,"45%D"?34&35$8%";'/"@35$8"($"&';?-(?;77>";77"'(=/'%A"B./"?3$?/$-';-(3$"3@"
$(-'345%D"?34&35$8%".;%"4;'D/87>"8/?7($/8"($"'/?/$-">/;'%A"B38;>"-./"?3$?/$-';-(3$"7/=/7%"
;'/"z"+A!"x)J7"($"'(=/'"<;-/'";$8""z"+A!"4)JD)"($"%/8(4/$-%";$8"($"@(%.A"B./".()."?3$?/$-N
';-(3$%"@35$8"($"6'/;%-"4(7D";'/"43%-"7(D/7>"85/"-3"8('/?-";6%3'&-(3$"-.'35)."-./"%D($A"
K3</=/',"-./"/$=('3$4/$-;7"?3$?/$-';-(3$"3@"&37>?>?7(?"45%D"?34&35$8%"?;$"6/"45?."
.()./',"6>";"@;?-3'"3@"!+"3'"43'/"6;%/8"3$"-./"4;'D/-"=3754/";$8"($".;=($)=/'>"%(4(7;'"
&'3&/'-(/%"-3"$(-'3"45%D%A"
P5%D"?34&35$8%";'/"=/'>"-3H(?"-3";C5;-(?"3');$(%4%A"Z;%/8"3$";$(4;7"%-58(/%,"$(-'345%D%"
;'/"%5%&/?-/8"3@"&3%%(67>"?;5%($)"?;$?/'"R?;'?($3)/$"?;-/)3'>"###SA""
B./"$546/'"3@"($85%-'(;7"5%/'%"3@"45%D"?34&35$8%"(%"/%-(4;-/8";-"3=/'";"-.35%;$8A"B./"
$546/'"3@"&3-/$-(;7"/$8N5%/'%"(%"/@@/?-(=/7>"(8/$-(?;7"-3"-./"&3&57;-(3$"3@"-./"01A"
V35).7>"?;7?57;-/8,"-./"%.;'/"3@"45%D"?34&35$8%"8('/?-7>"3'"($8('/?-7>"'/7/;%/8"($-3"-./"
/$=('3$4/$-"R<;-/'";$8"%3(7%S"(%";635-"$($/->"&/'"?/$-"3@"-./('"4;'D/-"=3754/"&/'">/;',"43%-"
3@"-.(%".3</=/'"(%"'/7/;%/8"=(;"%&';>($)"3@"%/<;)/"%758)/";%";"@/'-(7(%/'"3$-3";)'(?57-5';7"%3(7a"
3$7>";635-"-/$"&/'"?/$-"(%";?-5;77>"4($/';7(%/8"($"<;%-/"<;-/'"-'/;-4/$-A"
"
"
T+"
Musk compounds out of control
*5% of this
are Nitro-Musks
Environment*
2000 t/a*
90%
Mineralised
1400 t/a
3583
2368
10%
2023
Landfilled
Fate
0%
’92
’95
after end
of service-life
’98
Production
volume EU
Market
volume EU
in percent
of
market volume
Musk-Components
- Nitro-Musks (Keton und Xylene)
- Polycyclic Musks (HHCB, AHTN)
Critically exposed:
Substitute for natural musks
in the odourants industry
*90% of
this soil via
sewage sludge
Producers and Importers
concern
Bush Boake Allen LTD, UK (HHCB, AHTN);
Haarmann & Reimer, D (HHCB);
International Flavours and Fragrances, UK, NL, IR (HHCB);
Firmenich & Cie, F (HHCB);
Quest International, UK (HHBC);
Givaudan, CH (AHTN)
Risk-Profile
Most relevant
uses
In detergents
Use as
odourant
very high
concern
Liability to bioaccumulate* * Musk xylole
Toxic to aquatic organisms*
with very high
concern
Carcinogen, endocrine disruption
In other
domestic
products
For textile
finishing
Exposure
In cosmetics
(e.g. soaps,
perfumes,
cremes)
high
concern
Concentration in breast milk or blood**
** absorption through skin from cosmetic products
Product Life-Cycle
Producers and users
Production
Processing
Potential
final users
1000-5000 t/a
Water/Soil*
Waste
treatment
* 90% of this soil via sewage
sludge
Mineralization in water
treatment plants and
resorption through skin not
taken into account
No major relevance
Stand: 3/2003 ©
AN]*G)(81%$-")1)"5*6G0?:*
"
U(?.73';$(7($/"(%";"%>$-./-(?"3');$(?"?./4(?;7"<.(?.";43$)"3-./'"5%/%"(%"5%/8";%";"6;%/"
?./4(?;7"($"&'385?($)"./'6(?(8/%,";7)(?(8/%"R8(5'3$";$8"7($5'3$S";$8"6;?-/'(?(8/%"
R-'(?.73'3?;'6;$(7(8/%,"B22WSA"B./"=3754/%"&'3?/%%/8"($-3"%5?.";?-(=/"%56%-;$?/%"(%";635-"
`,+++Ne,+++"-3$$/%"&/'">/;'a"-./"4;'D/-"=3754/"3@"8(5'3$"<;%";635-"T,+++"-"($"!EEeA"B./'/"
;'/";635-"@35'"-3"%(H"4;$5@;?-5'/'%"($"-./"01A"
U(5'3$"(%";&&7(/8";%";"./'6(?(8/"3$"-';$%&3'-"'35-/%";$8"($";)'(?57-5'/"R?57-(=;-($)";%&;';)5%,"
@'5(-"-'//%,"?3'$,")';%%7;$8SA"#-"(%";7%3";$"(4&3'-;$-"?34&3$/$-"($";$-(@357($)"&;($-%A"B22W"(%"
5%/8";%";"6;?-/'(?(8/"($"%3;&%";$8"?3%4/-(?%A"
U(5'3$";$8"B22W"6(38/)';8/"($"-./"/$=('3$4/$-"($-3"8(?.73';$(7($/A"U(5'3$";$8"8(N
?.73';$(7($/".;=/";"$546/'"3@"&'367/4;-(?"?.;';?-/'(%-(?%A"1$8/'"/$=('3$4/$-;7"?3$8(-(3$%"($"
<;-/'";$8"%/8(4/$-%"-./>"3$7>"%73<7>"8/)';8/A"U2W"($";88(-(3$"-/$8%"-3"438/';-/7>"
6(3;??5457;-/"($"&;'-(?57;'"($"6/$-.(?"3');$(%4%A"Z/?;5%/"3@"6/($)"5%/8"($"-./"3&/$"
/$=('3$4/$-"($"7;')/";435$-%"8(5'3$";$8"8(?.73';$(7($/";'/"@35$8"($"?3$?/$-';-(3$%"3@"+A!N
!x)J7A"($";743%-";77"'(=/'%";$8"?3;%-;7"<;-/'%A"
U(5'3$"(%"&;'-(?57;'7>"-3H(?"-3";C5/35%"&7;$-%";$8";7);/A"U2W".;%";".3'43$/N7(D/"/@@/?-"3$"
@(%.";$8"(%"?.'3$(?;77>".;'4@57"-3";7);/,"@(%.,"8;&.$(;";$8"<3'4%A"Q/8(4/$-N@//8($)"
3');$(%4%";$8"6('8%";'/"'/);'8/8";%"?'(-(?;77>"/H&3%/8"-3"U2W"=(;"-./"@338"?.;($A"
B./"$546/'"3@"&3-/$-(;7"($85%-'(;7"5%/'%"3@"8(5'3$";$8"B22W"(%"/%-(4;-/8";-";635-";"
-.35%;$8,"<(-."-./"4;$5@;?-5'/'%"3@"./'6(?(8;7"&'385?-%"-./4%/7=/%"6/($)";"'/7;-(=/7>"%4;77"
)'35&";43$)"-./%/A"B./"$546/'"3@"&3-/$-(;7"/$8N5%/'%"(%"/@@/?-(=/7>"(8/$-(?;7"-3"-./"
&3&57;-(3$,"&567(?";84($(%-';-(3$%";$8"$546/'"3@"@;'4/'%"($"-./"01A"
B./"?34&7/-/"4;'D/-"=3754/"3@"8(5'3$"(%"'/7/;%/8"8('/?-7>"($-3"-./"/$=('3$4/$-"R;(',"<;-/',"
%3(7%SA"B./"&'3&3'-(3$"3@"B22W"R3'"-./"U2W"@3'4/8"@'34"B22WS"8('/?-7>"'/7/;%/8"(%"%4;77/'"
6/?;5%/"&;'-"3@"(-"(%"'/-;($/8"($"%/<;)/"%758)/A"
"
"
T*"
Dichloranilin-Pesticides out of control
*Production
development
stagnating/
downward trend
Environment 100%
4.670 t/a*
*DCA for further
processing in the EU
Decomposition in water
to Dichloranilin(DCA)
**1995
3000 t/a**
98 % Diuron, Linuron
2 % Trichlorcaranilide
Production
volume EU
Fate
after end
of service-life
Market
volume EU
in percent
of
market volume
3,4 Dichloranilin
Building block and metabolite of
Diuron, Linuron, Trichlorocarbanilide
Critically exposed:
Herbicide, algicide; bactericide
Producers
Risk-Profile
high
concern
concern
Bayer AG, D (Dichloranilin, Diuron;
Notification of Diuron for EU assessment);
Aventis/Bayer; F (Diuron);
Industry Prodotti Chimici SpA, I (Linuron);
Makhteshim Agan International, B
(Notification of Diuron for EU assessment)
very high
concern
Carcinogen*,
endocrine
disruption**
krebserregend,
mutagen,
* applicable for Diuron ** applicable for 3,4 Dichloranilin and fish species
Most relevant
uses
(Only Diuron und TCC)
Antifouling*
in paints,
sealing products
Bactericide*
in soap and cosmetics
Herbicide*
Agriculture,
traffic areas
*herbes,
bacteria, alge
Exposure
Product Life-Cycle
Production
1-5 t/a
Processing
Potential
final users,
potential
users in
agricultur
Waste
treatment
1000-5000 t/a
Soil/Water/Air
Herbicide Diuron on
sealed paths and squares;
Herbicide Diuron in
agriculture (releases to
soils); Antifouling paints;
Bactericide TCCA
in soaps and cosmetics
No major relevance
Stand: 3/2003 ©
AN^*3$)/1'$-1)"*
"
B'(@75';7($"(%";"%>$-./-(?"3');$(?"?./4(?;7,"-./"4;'D/-"=3754/"3@"<.(?."(%";635-"T,+++"-3$$/%"
&/'">/;'A"#-"(%"&'385?/8"($"3$/"3'"-<3"&'385?-(3$"%(-/%"($"-./"01A"
#$"05'3&/,"-'(@75';7($"(%"7;')/7>"5%/8";%";"./'6(?(8/"($")'3<($)"';&/A"
1$8/'"/$=('3$4/$-;7"?3$8(-(3$%"-'(@75';7($"3$7>"%73<7>"8/)';8/%"($"<;-/'";$8"%/8(4/$-%A""#$"
;88(-(3$"(-"-/$8%"-3"6(3;??5457;-/"($";C5;-(?"3');$(%4%"-.;-"(-"4;>"&3%%(67>"6(34;)$(@>"($"-./"
@338"?.;($A"U5/"-3"(-%"3&/$"5%/"($"7;')/";435$-%"-'(@75';7($"(%"3@-/$"@35$8"($"'(=/'%"($".()."
?3$?/$-';-(3$%"R\"!"x)J7SA"
B'(@75';7($"(%"=/'>"-3H(?"-3"@(%.A"#$";%%/%%($)"-./"/$=('3$4/$-;7"'(%D,"(4&3'-;$-"($@3'4;-(3$"(%"
7;?D($)"6/?;5%/"-./'/"(%"$3"'(%D";%%/%%4/$-">/-"@3'"-.(%"&/%-(?(8/";-"01"7/=/7A"
B./'/"4;>"6/"%34/"!+"?34&;$(/%"5%($)"-'(@75';7($"($"-./('"&/%-(?(8/"&'385?-%A"B./"$546/'"3@"
&3-/$-(;7"/$8N5%/'%"(%"/@@/?-(=/7>"(8/$-(?;7"-3"-./"$546/'"3@"@;'4/'%"($"-./"01A"
B./"?34&7/-/"4;'D/-"=3754/"3@"-'(@75';7($"(%"'/7/;%/8"8('/?-7>"($-3"-./"/$=('3$4/$-"R;(',"
<;-/',"%3(7%SA"
"
"
T`"
Trifluralin out of control
Environment
100%
3200 t/a
No more
registration/license
in Sweden, Denmark
and the Netherlands
(January 2001)
?
Production
volume EU
Fate
after end
of service-life
Market
volume EU
in percent
of
market volume
Trifluralin
Critically exposed:
Selective herbicide
Risk-Profile
Producers
Most relevant
uses
very high
concern
Carcinogen, toxic to reproduction
Exposure
Herbicide
Agriculture
in particular
raps
high
concern
concern
Dow Agro Science, UK
(Production and notification for EU assessment);
Manerbio Finchimica, I (Production);
Makhteshim Agan Internat, B
(Notification for EU assessment)
Product Life-Cycle
Production
Processing
Potential
users in agricultur
Waste
treatment
1000-5000 t/a
No major relevance
Stand: 3/2003 ©
AN_**G)(%/%1*
"
U(?3@37"(%";"%>$-./-(?"3');$(?"?./4(?;7"<(-.";"4;'D/-"=3754/"3@";635-"T++"-3$$/%"&/'">/;'"($"
-./"01A"#-"(%"&'385?/8"6>"3$/"3'"-<3"05'3&/;$"?34&;$(/%A"#-%"&'385?-(3$"=3754/"3@"*,+++"
-3$$/%"&/'">/;'"(%"45?.".()./',"($8(?;-($)"/H-/$%(=/"/H&3'-%A""
U(?3@37"(%"5%/8"4;($7>"($"%35-./'$"05'3&/";%";$";?;'(?(8/"($")'3<($)"@'5(-";$8"=/)/-;67/%A"
U(?3@37".;%";"$546/'"3@"&'367/4;-(?"?.;';?-/'(%-(?%A"1$8/'"/$=('3$4/$-;7"?3$8(-(3$%"(-"(%"
&/'%(%-/$-"($"<;-/'";$8"%/8(4/$-%";$8"?;$";7%3"6/"-';$%&3'-/8"3=/'"73$)"8(%-;$?/%A"#$";88(-(3$"
8(?3@37""-/$8%"-3"6(3;??5457;-/"($"-./"638>"@;-"3@";C5;-(?"3');$(%4%";$8"4;>"6(34;)$(@>"($"
-./"@338"?.;($A"Z/($)"5%/8"($"'/7;-(=/7>"%4;77";435$-%,"-./"/$=('3$4/$-;7"?3$?/$-';-(3$"3@"
8(?3@37"(%"5%5;77>"</77"6/73<"+A!"x)J7,"65-"-./'/"(%"=/'>"7(--7/"8;-;"@'34"4/;%5'/4/$-%A"#-%"
?3$?/$-';-(3$%"($"3');$(%4%"%5))/%-"-.;-"(-"4;>";??5457;-/"($"-./"@338"?.;($a"-.(%"(%"43'/"
7(D/7>"=(;"%3(7%"-.;$"=(;"<;-/'A"U(?3@37"(%"'/)57;'7>";43$)"-./"43%-"@'/C5/$-7>"@35$8"
&/%-(?(8/%"'/&3'-/8"($"-./";$$5;7"01N<(8/"&/%-(?(8/"'/%(85/"43$(-3'($)"&'3)';4%"RUf"
QWd2Y,"!EEFN*++*SA"
U(?3@37"(%"=/'>"-3H(?"-3"@(%.";$8"8;4;)($)"-3"6('8%X"'/&'385?-(3$A"B./'/"(%";"7;?D"3@"'/7/=;$-"
($@3'4;-(3$"6/?;5%/"-./'/"(%"$3"'(%D";%%/%%4/$-">/-"@3'"-.(%"&/%-(?(8/"&'3=(8/8";-"01"7/=/7A"
Q34/"83M/$%"3@"?34&;$(/%"4;>"5%/"8(?3@37"($"-./('"&'385?-%"A"B./"$546/'"3@"&3-/$-(;7"/$8N
5%/'%"(%"/@@/?-(=/7>"(8/$-(?;7"-3"-./"$546/'"3@"@;'4/'%"($"-./"01A"
B./"?34&7/-/"4;'D/-"=3754/"3@"8(?3@37"(%"'/7/;%/8"8('/?-7>"($-3"-./"/$=('3$4/$-"R;(',"<;-/',"
%3(7%SA"
"
"
Tt"
Dicofol out of control
Environment
2100 t/a
100%
*No more
registration/license
in the nordic states,
Germany and
the Netherlands
(January 2001)
Fate
300 t/a*
Production
volume EU
after end
of service life
Market
volume EU
in percent
of
market volume
Dicofol (Kelthane new)
Critically exposed:
Contact acaricide
Risk-Profile
Producers
Most relevant
uses
very high
concern
Hability to bioaccumulate
Endocrine disruption,
to reproduction
krebserregend,
mutagen,toxic
Exposure
Acaricide*:
agriculture
*agent against
mite
high
concern
concern
Rohm & Haas, I
(Production and Notification for EU assessment);
Montecina, E;
Makhteshin Agan, B
(Notification for EU assessment)
Product Life-Cycle
Production
Processing
Potential users
in agricultur
100-500 t/a
Waste
treatment
No major relevance
Stand: 3/2003 ©
ANP**`$7-"%#)"*(%,@%'"&2a*#$)4'#.1*#)"*63E3:*-"&*#$)@85".1*#)"*63D3:*
"
Y');$3-($"?34&35$8%";'/";"'/7;-(=/7>"6'3;8")'35&"3@"4/-;773N3');$(?"?./4(?;7%"<.3%/"
&'3&/'-(/%".;=/"=/'>"8(=/'%/"&'3@(7/%A"#$"-./"01,"-./"&'385?-(3$"=3754/"3@"-'(65->7"-($";$8"
-'(&./$>7"-($,"<.(?.";'/"-./"/%&/?(;77>"-3H(?"?34&3$/$-%,"<;%";635-"T,+++N`,+++"-J;";-"-./"/$8"
3@"-./"$($/-(/%a"-./('"&'385?-(3$";&&/;'%"-3"6/"3$"-./"8/?7($/A"B./"05'3&/;$"4;'D/-"=3754/"
<;%";'35$8"*,+++"-J;A"B./"$546/'"3@"4;$5@;?-5'/%"($"-./"01"(%";635-"%(H"-3"$($/A"
B./"4;($";'/;%"3@"5%/"3@"-.(%")'35&"3@"3');$3-($"?34&35$8%";'/";$-(@357($)"&;($-%,"@5$)(?(8/%"
R)';&/%";$8"&3-;-3/%S,"=;'(35%"6(3?(8/"5%/%"($"&'/&;';-(3$%";$8"&'385?-%,";$8";%"?;-;7>%-%"($"
3');$(?"%>$-./%/%"R($?758($)"&7;%-(?%SA"B'(65->7"-($"(%";7%3";$"5$($-/$8/8"(4&5'(->"($"&7;%-(?"
;88(-(=/%"R/A)A"($":_2"&'385?-%SA"U5/"-3"(-%"5%/";%";"?;-;7>%-";$8"85/"-./"5%/"3@"8(65->7-($"
R($?758($)"BZB"(4&5'(-(/%S";%";"%-;6(7(%/'"BZB".;%"6//$"8/-/?-/8"($"%/=/';7"?3$%54/'"
&'385?-%"($"'/?/$-">/;'%"R%//"7(%-"3@"?3$%54/'"&'385?-%"-/%-/8"6>">?@A!)A"($"?.;&-/'"Z"*A*SA""
BZB";$8"B:B".;=/";"$546/'"3@"&'367/4;-(?"?.;';?-/'(%-(?%A"1$8/'"/$=('3$4/$-;7"?3$8(-(3$%"
-./('"6(38/)';8;-(3$"($"<;-/'";$8"%/8(4/$-%"(%"=/'>"%73<A"#$";88(-(3$"-./>"-/$8"-3"?3$?/$-';-/"
($"?/'-;($"3');$%"3@";C5;-(?"3');$(%4%"R-./"7(=/',"@3'"/H;4&7/SA"Z/($)"5%/8"($"-./"3&/$"
/$=('3$4/$-,"3');$3-($"?34&35$8%";'/"@35$8"($";743%-";77"'(=/'%,"/%&/?(;77>";73$)"%.(&&($)"
'35-/%A"B./('"?3$?/$-';-(3$"($"<;-/'"(%"$3<"'/7;-(=/7>"73<"R7/%%"-.;$"+A!"x)J7S"3$";??35$-"3@"
-./"8/?7($/"($";435$-%"5%/8,"65-"%/8(4/$-%";'/"%-(77"./;=(7>"&3775-/8A"
:;'-(?57;'7>"$3-(?/;67/"(%"-./('"./;=>";??5457;-(3$"($"-./"7(=/'%"3@"@(%.,"6('8%";$8"4;'($/"
4;44;7%A""
BZB";$8"B:B";'/"=/'>"-3H(?"-3";C5;-(?"3');$(%4%A"K3'43$/N7(D/"/@@/?-%"3$"43775%?%";$8"@(%."
<.(?."7/;8"-3"%/=/'/"'/&'385?-(=/"8(%3'8/'%".;=/"6//$"8/-/?-/8A"#$"/H&/'(4/$-%"<(-."'38/$-%"
(445$/"8(%3'8/'%"3??5'";-"=/'>"73<"83%/%A"0$=('3$4/$-;7"&3775-(3$"<(-."BZB"83/%"&3%/";"
'(%D"3$";77"'35-/%"3@"/H&3%5'/A"
B./"$546/'"3@"&3-/$-(;7"($85%-'(;7"5%/'%"R8('/?-7>"3'"($8('/?-7>S"3@""4;-/'(;7"?3$-;($($)"BZB"(%"
/%-(4;-/8";-"%/=/';7"-/$%"3@"-.35%;$8%"6/?;5%/"BZB"?;$";7<;>%"3??5'";%";$"(4&5'(->"($"
&7;%-(?%";$8"&7;%-(?";88(-(=/%A"B./"$546/'"3@"&3-/$-(;7"/$8N5%/'%"?34($)"($-3"?3$-;?-"<(-."
BZB"(%"/@@/?-(=/7>"(8/$-(?;7"-3"-./"&3&57;-(3$"A"9(-."'/);'8"-3"?./4(?;7"&'385?-%"R/A)A"&;($-%S,"
.3</=/',"-./"$546/'"3@"?34&;$(/%";?-5;77>"5%($)"BZB".;%"6/?34/"=/'>"%4;77"$3<"%($?/"-./"
5%/"3@"BZB"($";$-(@357($)"&;($-%"<(77"6/"-3-;77>"&.;%/8"35-"5$8/'"-./"#PY"23$=/$-(3$"85'($)"
-./"?34($)">/;'%A"""
V35).7>"?;7?57;-/8,"-./"%.;'/"3@"BZB";$8"B:B"8('/?-7>"3'"($8('/?-7>"'/7/;%/8"($-3"-./"
/$=('3$4/$-"R;(',"<;-/'";$8"%3(7%S"(%";635-"*+"&/'"?/$-"3@"-./('"4;'D/-"=3754/A"B./"'/4;($8/'"
(%"8(%&3%/8"3@";%"<;%-/"($"-./"@3'4"3@"&'385?-%,"?3$%-'5?-(3$"<;%-/"3'"($85%-'(;7"<;%-/"R/A)A"($"
@3'4"3@"%.(&X%"&;($-%"<.(?.".;=/"6//$"'/43=/8SA"
"
"
TF"
Organotin-Compounds out of control
Environment
20%
All data:
t/a
TBT
1.700
TBT
?
Disposal
TPT
?
TPT
Production development downwards
Production
volume EU
Fate
80%
after end
of service-life
180
Market
volume EU
in percent
of
market volume
Organotin-Compounds:
Tributyltin (TBT),
Triphenyltin (TPT)
Critically exposed:
Biocide (TBT)
and Pesticide (TPT)
Producers
Risk-Profile
concern
Cromton, D (Production of intermediates, biocides,
pestizides, catalysts and stabilizers); Reagens, I (Production
of catalysts, stabilizers); Atofina, NL (Production of biocides,
pestizides, catalysts and stabilizers); BNT, D (Production of
intermediates); Rohm & Haas, CH (Production of biocides
and pestizides); Aventis, D (Production or import of
Cyhexatin, Fentin); OXON Italia, I (Notification of Cyhexatin
for EU assessment) BASF, D (Notification of Fenbutatin for
EU assessment); ELF Atochem Agri, NL (Notification of
Fenbutatin and Cyhexatin for EU assessment)
in Dibutyltin-stabilisers
and Dibutyltincatalysts 9%
Antifouling paints
68%
Wood preservatives;
preservants and
biocides in paints; biocide
in textiles (tents), leather
and carpets <5%
Product Life-Cycle
Production*
Exposure
Pesticides in potatoe and
grapevine cultivation 10%
Organic
syntheses <8%
Impurities
very high
concern
krebserregend,endocrine
mutagen, effects
Most relevant uses
In % market volume
high
concern
* including producers of
Releases to the environment Butylzinn stabilisers
Processing
Potential
final users,
potential users
in agriculture
100-500 t/a
Water/Air/
Soil
Waste
treatment
Recycling of PVC
quantification
not possible
Stand: 3/2003 ©
AN;Q*0-&,)',*
"
2;84(54"(%";"$;-5';7"4/-;7"<(-.";"4;'D/-"=3754/"($"-./"01"3@";635-"*,t++"-3$$/%A"B./'/";'/"
$($/"4;$5@;?-5'/'%"($"05'3&/,";$8"&'385?-(3$"=3754/"($"-./"01"(%"'35).7>"83567/"-./"4;'D/-"
=3754/A"
2;84(54"(%"4;($7>"5%/8"($"6;--/'(/%,"&()4/$-%,":_2"%-;6(7(%/'%,"($"-'/;-($)"4/-;7"%5'@;?/%,"
;$8"($";773>%A"
2;84(54".;%";"$546/'"3@"&'367/4;-(?"?.;';?-/'(%-(?%A"W%";"4/-;7,"(-"(%"&/'%(%-/$-";$8"?;$"6/"
-';$%&3'-/8"3=/'"73$)"8(%-;$?/%A"#-%"4/;$"?3$?/$-';-(3$"($"<;-/'"%/8(4/$-%"R!N!+"4)JD)"8<S"
;$8"'(=/'"<;-/'"R+A!N!"x)J7S"($"05'3&/"-38;>"(%";635-"-/$"-(4/%"-./"$;-5';7"6;?D)'35$8"
?3$?/$-';-(3$A"#$";88(-(3$,"2;84(54"-/$8%"-3";??5457;-/"($"?/'-;($"-(%%5/%A""
2;84(54"(%"?;'?($3)/$(?"($"43%-"3@"(-%"%;7-%"R?;84(54"3H(8/"3$7>";%"85%-S";$8".;%";".()."
%>%-/4(?"-3H(?(->"R/A)A"D(8$/>%SA"9./$"8(%%37=/8,"(-"(%".().7>"-3H(?"-3";C5;-(?"3');$(%4%,";$8"
?;84(54"';$D%".().";43$)"&'(3'(->"&3775-;$-%"($"05'3&/;$"'(=/'%A""
B./"$546/'"3@"?34&;$(/%"($"-./"01"8('/?-7>"&'3?/%%($)"?;84(54"?34&35$8%"($-3"&'385?-%"
;$8J3'";'-(?7/%"4;>"6/"%-(77"3=/'"!++A"Z/($)"<(8/7>"5%/8"($"/7/?-'(?;7";&&7(;$?/%,"&7;%-(?%";$8"
&;($-%,"-./"$546/'"3@"?34&;$(/%"5%($)"&'/&;';-(3$%";$8"&'385?-%"<.(?."&3-/$-(;77>"?3$-;($"
?;84(54"45%-"6/"%-(77"=/'>".().A"B./"$546/'"3@"&3-/$-(;7"@($;7"?3$%54/'%"(%"/@@/?-(=/7>"
(8/$-(?;7"-3"-./"&3&57;-(3$"3@"-./"01A"
W@-/'"-./"/$8"3@"-./('"%/'=(?/"7(@/,";'-(?7/%"?3$-;($($)"?;84(54";'/"8(%&3%/8"3@";%"<;%-/"<(-."
.35%/.378"<;%-/,"/7/?-'3$(?"%?';&,"5%/8"=/.(?7/%"3'"?3$%-'5?-(3$"<;%-/A"K/'/";);($,"4;$>"
-.35%;$8%"3@"8(%&3%;7"?34&;$(/%"($"05'3&/";'/"($=37=/8A"L5'-./'43'/,"?;'%";$8"/7/?-'(?";$8"
/7/?-'3$(?";'-(?7/%";'/"'/?3=/'/8";$8"'/?>?7/8"%/&;';-/7>A""
V35).7>"?;7?57;-/8,"5&"-3"-<3"&/'"?/$-"3@"-./"4;'D/-"=3754/"&/'">/;'"(%"'/7/;%/8"($-3"-./";('"
;$8"<;-/',"<(-.";635-"-./"%;4/"&'3&3'-(3$"?34($)"@'34"(-%"&'385?-(3$,"5%/"3@"&'385?-%";$8"
<;%-/"8(%&3%;7A"W635-"tF"&/'"?/$-"/$8%"5&";-"<;%-/"8(%&3%;7"%(-/%";$8";635-"!T"&/'"?/$-"3@"
4;'D/-/8"?;84(54"(%"'/?>?7/8A"B./"'/%-"/$-/'%"-./")'35$8";%";"?3$-;4($;$-"($"<;%-/"
($?($/';-(3$"%7;)"5-(7(%/8"@3'"?3$%-'5?-(3$"<3'D%A"K3</=/',"-./"6())/%-"&'3&3'-(3$"3@"
/4(%%(3$%";'(%/%"($"-./"5$($-/$-(3$;7"'/7/;%/"3@"?;84(54"@'34"&'385?-%";$8"&'3?/%%/%"<./'/"(-"
(%";$"(4&5'(->"/A)A"($";'-(@(?(;7"@/'-(7(%/'";$8"M($?,";$8"($"($?($/';-(3$"&'3?/%%/%";$8"%4/7-/'%A"
"
`+"
Cadmium out of control
Environment
4%*
5.800 t/a
Production
development:
constant
’90
Recovery
Disposal
22%
74%
2.600 t/a
Fate
after end
of service-life
’00
Production
volume EU
Market
volume EU
in percent
of
market volume
Cadmium
Energy conservator in batteries,
surface protection, hardening
component in alloys,
pigmentes, pvc-stabilizers
Critically exposed:
*Assumption:
50% of this recovery
of incineration
slag in road construction
Producers
Risk-Profile
high
concern
concern
Asturiana de Zinc, E; Britannia Zinc Limited, UK;
Budel Zink BV, NL; Enirisorse, I;
Metaleurop Nord S.A.S., F;
Metaleurop Weser Zink GmbH, D;
Norzink, NOR; Outokumpu Zinc OY, FIN;
Ruhr-Zink GmbH, D;
Floridienne Chimie S.A., B (Cadmiumoxid)
very high
concern
Carcinogen
krebserregend, mutagen,
Most relevant uses
In % market volume (1996)
Batteries 75%
PVC stabilizer
5%
Surface
protection,
alloy 5%
Exposure
Pigments 15%
Product Life-Cycle
Unwanted emissions from
1-10 t/a products and production processes,
Production
Processing
that do not aim at extracting or using
cadmium, are approximatly
30 times larger (170 t/a)
1-10 t/a
Potential
final user
Waste
treatment
Recycling of batteries and PVC
10-100 t/a
Water*/Air
* Tyres, breaks, road cover;
Roofing material; Artist’s paints;
PVC stabilizers, pigments; Alloy
and metal coatings
Pollution from mineral fertilizer
about 10 times higher (260 t/a)
10-100 t/a
Water*/Air
*Assumption: 25% of domnestic
waste goes to incineration
Stand: 3/2003 ©
*
*
*
*
*
*
*
*
*
*
*
*
?@@5"&)F*
"
`*"
E*****?@@5"&)F*E;*[*D$%&'(5$2*
""
;NQ****D$%&'(5$2*%/*2'42#-"(52**
"
2./4(?;7"%56%-;$?/%";'/"5%5;77>"&'385?/8"6>"3$/"-3"@(=/"?34&;$(/%"($"05'3&/,"8/&/$8($)"3$"
4;'D/-"=3754/A"#$";88(-(3$"-./'/"4;>"6/"%/=/';7"?34&;$(/%"3$7>"(4&3'-($)"-./"%56%-;$?/%A"
B./"$;4/%"3@"&'385?/'%";$8"(4&3'-/'%"3@"%56%-;$?/%"<(-.";"4;'D/-/8"=3754/"\"!+J-"&/'">/;'"
?;$"($"&'($?(&;7"6/"(8/$-(@(/8"3$"-./"05'3&/;$"8;-;"6;%/"3$"/H(%-($)"%56%-;$?/%"R#12^#US"=(;"
-./"05'3&/;$"2./4(?;7%"Z5'/;5"R.--&nJJ/?6A]'?A(-SA"K3</=/',"%($?/"-./"5&8;-($)"3@"-.(%"8;-;"6;%/"
36=(35%7>"83/%"$3-"%5@@(?(/$-7>"<3'D,";88(-(3$;7"($@3'4;-(3$"(%"$//8/8"($"43'/"-.;$".;7@"3@"
-./"($=/%-();-/8"?;%/%A"W7%3,"(-"(%"$3-"&3%%(67/"-3"?7/;'7>"%/&;';-/"&'385?/'%";$8"(4&3'-/'%"($"
-./"&567(?7>";??/%%(67/"8;-;"6;%/A"""
#$"-./"@3773<($)"7(%-"3@"&'385?/'%,"-./"($@3'4;-(3$"%35'?/%";'/"($8(?;-/8"@3'"/;?."%56%-;$?/%A"
d/=/'-./7/%%,"-.(%"($@3'4;-(3$"4;>"$//8"@5'-./'"5&8;-($)"3'"?3''/?-(3$%A"#$"%34/"?;%/%"
(4&3'-/'%"4;>";7%3"6/"($?758/8"($"-./"7(%-A"
"
;N;**GMID*D$%&'(5$2*6G$-/#*B?B9*R-.*>QQ;9*6(5-25&*@$%&'(#)%"2*$5,%O5&:*
"
0%,@-".*
\%(-#)%"*
+%'$(5*
ZWQL"Wf"
ZWQL,"0%&;$37;"
Z:"2./4(?;7%"
2/7;$/%/!""
U'(@-;7"f:U"
07@"W-3?./4"L'"
#$85%-'(/"f/$/';7("Q&W,"
^3$M;"T"
d/%-/"YH3"
d/%-/"Y>"
YH/$3"Y7/@($?./4(/*"
:7;%-(@(?;$-/%"8/"^5-H;$;"R:U^S"
Q#QWQ":;$-3?.(4"
Q#QWQ`"
"
^58<()%.;@/$,"f/'4;$>"
B;'';)3$;,"Q&;($"
K577,"1o"
Y6/'.;5%/$,"f/'4;$>"
^(%63$,":3'-5);7"
2.;5$>,"L';$?/"
Q;4;';$-/,"#-;7>"
Q;$"f(3=;$(,"_;78;'$3,"#-;7>"
Q-/$5$)%5$8,"Q</8/$"
:3'=33,""L($7;$8"
P;'7,"f/'4;$>"
Z;';?;783,"Q&;($"
L/75>,"Z/7)(54"
Y%-/$8,"Z/7)(54"
"
"
"
"
"
^(%-"3@"?34&;$(/%";%"
?3$-;($/8"($"-./"U';@-"01"
V(%D"W%%/%%4/$-"V/&3'-"3$"
U0K:,"*++!a"?/;%/8"
&'385?-(3$"'/43=/8";%"@;'";%"
($8(?;-/8"($"-./"-;67/A"
!
"$;4/"?.;$)/8"@'34"K3/?.%-"Wf"($"!EEv"
"$;4/"?.;$)/8"@'34"Kh7%"Wf"($"!EEv"
T
"$;4/"?.;$)/8"@'34"W75%5(%%/"($"!EE`"
`
"$;4/"?.;$)/8"@'34"12Z"($"!EEe"
e
"^3$M;"(%"?;''>($)"3$"&'385?-(3$"3@"U0K:";-"-./"0$(?./4"&7;$-";-":3'-3"P;')./';"
t
"Q($-/-(?;"Q&W"(%"$3<"-./"Q#QWQ"&7;$-";-":(3-/773""
*
"
GMID*)"*@$%&'(#*4$-"&2*
1%/"($";"457-(-58/"3@"&'385?-%a";'/"/H?.;$)/8"@3'"3-./'"&7;%-(?(%/'%"($"&;'-%"3@"-./"4;'D/-a"$3"
%()$(@(?;$-"8;-;";=;(7;67/A"W"%/7/?-(3$"3@"&'385?-%"?;$"6/"%//$"($";&&/$8(H"Z*A"
"
"
`T"
;N>*D$%&'(5$2*%/*4$%,)"-#5&*/1-,5*$5#-$&-"#2*6G$-/#*M<*B?2*%"*IE0G9*GM0?*-"&*
3EE?9*<E?*>QQ;:*
"
b)$,-*
`$#*
+%'$(52*
B/'$/5M/$"Rd^S(
Z'334?./4(/JU/;8"Q/;"Z'34($/"f'35&"
RKZ2US"
f'/;-"^;D/%"P;$5@;?-5'($)"R1oS""R^-8AS"
RKZ2US"
"
d/<-3$"W>?7(@@/,"
23AU5'.;4"R1oS"(
Z;%/8"3$"($@3'4;-(3$"
($"=;'(35%"%35'?/%";%"
7(%-/8";63=/"
E$%,)"-#5&*/1-,5*$5#-$&-"#2*)"*@$%&'(#*4$-"&2**
"
1%/" ($" ;" 457-(-58/" 3@" &'385?-%a" ;'/" /H?.;$)/8" @3'" 3-./'" ->&/%" 3@" @7;4/" '/-;'8;$-" ;)/$-%" R($"
/7/?-'3$(?" 8/=(?/%," @5'$(-5'/," ?;'%S" ($" &;'-%" 3@" -./" 4;'D/-a" %()$(@(?;$-" 8;-;" 3$" &'385?-%" %-(77"
?3$-;($($)"6'34($;-/8"@7;4/"'/-;'8;$-%"$3-";=;(7;67/A""
"
"
;NA**D$%&'(5$2*%/*(81%$)"-#5&*D-$-//)"2**6M'$%(81%$9*>QQ>:c*
"
L('4;"
Y'-"
Q35'?/"
!S"
#$/3%"2.73'"^-8 RQ22:,"P22:,"^22:S"
V5$?3'$,"2./%.('/"R1oS"
"
2.3?C5/%"RLS"{"
P;(7;$8"R#-S"
^/5$;"RUS"
Z;'?/73$;"RQS"
2;@@;'3"QA&AW""RQ22:,"P22:,"^22:S"
^/5$;"B/$%(8/"RP22:,"^22:S"
[5(4(?;"8/7"2($?;"QAWA"RP22:S""
#$85%-'>"($@3'4;-(3$"
%//4%"-3"6/"-./"43%-"
5&8;-/8"
|"^(%-"3@"01VY"2K^YV"2.73'($;-/8":;';@@($":'385?/'%";$8"23$-;?-%,"5&8;-/8"*FA+TA+*a"&/'%A?34A""
!S""&'/=(35%7>"#2#"
"
081%$)"-#5&*@-$-//)"2*)"*@$%&'(#*4$-"&2*
"
1%/" ($" ;" 457-(-58/" 3@" &7;%-(?" &'385?-%a" %()$(@(?;$-" 8;-;" $3-" ;=;(7;67/A" Q56%-(-5-(3$" 3@" %.3'-N
?.;($" ?.73'($;-/8" &;';@@($%" <(-." 4/8(54N?.;($" ?.73'($;-/8" &;';@@($%" 3'" 3-./'" ?./4(?;7%" ($"
4/-;7"&'3?/%%($)"@75(8%"3$)3($)A"
"
"
;NJ! D$%&'(5$2*%/*"%".1@85"%1*6<E?*>QQ>:c*
"
b)$,-*
`$#*
+%'$(5*
Q;%37"f46K!S""
0$(?./4"QA:AW"
P;'7"RUS"
P(7;$3"R#-S""
#$85%-'>"%35'?/%"%//4"-3"
6/"-./"43%-"5&8;-/8"
|":'385?/'%"3@"d3$>7&./$37/-.3H(7;-/%"($"9/%-/'$"05'3&/"!EEtJ!EEv"RZ3/.4"/-";7,"*++*aS"
!S"
&'/=(35%7>"Kh7%"Wf"
"
T%".1@85"%15#8%F.1-#52*)"*@$%&'(#*4$-"&2*
1%/"($";"457-(-58/"3@"-/?.$(?;7"&'385?-%"@3'"($85%-'(;7"3'"($%-(-5-(3$;7"%&./'/A"#$"6'3;8"%/?-(3$%"
3@" -./" 4;'D/-" %56%-(-5-(3$" 6>" -/$%(8/%" <.(?." ;'/" 6/--/'" 8/)';8;67/a" %()$(@(?;$-" 8;-;" $3-"
;=;(7;67/A""
"
``"
;NS**R-"'/-(#'$5$2*-"&*),@%$#5$2*%/*,'2C*(%,@%'"&2*6!<0\!G*>QQ>:c*
"
b)$,-*
`$#*
+%'$(5*
Z5%."Z3;D/"W77/$"^BU"RKK2Z,"WKBdS""
K;;'4;$$"}"V/(4/'"RKK2ZS"
#$-/'$;-(3$;7"L7;=35'%";$8"L';)';$?/"R"KK2ZS"
"
"
"
^3$83$"R1oS"
K37M4($8/$"RUS"
K;=/'.(77,"Q5@@37D"R1DS"
U'3)./8;"R#V0S"
B(765')"Rd^S"
d/5(77>"%5'"Q/($/"RL'S""
W%.@3'8,"o/$-"R1oS"
_/'$(/'"R2KS"
L('4/$(?."}"2(/""RKK2ZS"
[5/%-"#$-/'$;-(3$;7"RKKZ2S"
f(=;58;$"RKK2Z"5$8"WKBdS"
(
(
5.+:,'.(
|"#12^#U"*++*,"%34/"3@"-./"?34&;$(/%"4;>"6/"(4&3'-/'%"3$7>"
*
R'2C*)"*@$%&'(#*4$-"&2"
"
1%/" ($" ;" 457-(-58/" 3@" ?3%4/-(?" &'385?-%" ;$8" %3;&%a" 45%D" H>737" 5$8" 45%D" -37537" .;=/" 6//$"
'/&7;?/8" 6>" &37>?>?7(?" 45%D" ?34&35$8%" 3'" 3-./'" @';)';$?/" 85'($)" -./" 7;%-" /().-" >/;'%A" B./"
&'3?/%%" 3@" %56%-(-5-(3$" (%" ?3$-($5($)A" Q()$(@(?;$-" 8;-;" 3$" -./" 5%/" 3@" 45%D" ?34&35$8%" ($"
&;'-(?57;'" &'385?-%" ;'/" $3-" ;=;(7;67/A" W" %/7/?-(3$" 3@" ?3%4/-(?%" ($" <.(?." 45%D" ?34&35$8%"
.;=/"6//$"8/-/?-/8"($"-./"7;%-"@/<">/;'%"(%"7(%-/8"($";&&/$8(H"Z*"
"
"
;N]**D$%&'(5$2*%/*&)(81%$-")1)"59*1)"'$%"9*&)'$%"9*#$)(81%$(-$4-")1)&5*6M<*G$-/#*B?B*%"*
A9J*G)(81%$-")1)"5*>QQ;9*!<0\!G*>QQ>9*GK*+?T0`*>QQQ:c**
"
L('4;"
Y'-"
"
Z;>/'"Wf"R&'385?-(3$"3@"U(?.73';$(7($,"U(5'3$a"
$3-(@(?;-(3$"3@"U(5'3$"@3'"01"/=;75;-(3$S"
^/=/'D5%/$"RUS"
W=/$-(%"2'3&%?(/$?/JZ;>/'"0$=('3$4/$-;7"Q?(/$?/"
RU(5'3$S!S""
^>3$"RLS"
#$85%-'(;":'383--("2.(4(?("Q&W(R^($5'3$S"
P;(7;$8"R#-S"
P;D.-/%.(4"W);$"#$-/'$;-(3$;7"R$3-(@(?;-(3$"3@"U(5'3$" Z'h%%/7"RZS"
@3'"01"/=;75;-(3$S"
*+++~"
*++*•"
*++*•"
</6&;)/"
*++*•"
</6&;)/"
*+++~"
•"#12^#U"*++*,""~"Uf"QWd2Yn"^(%-"3@";?-(=/"%56%-;$?/%";$8"$3-(@>/'%"@3'"<.(?.";"$3-(@(?;-(3$".;%"6//$"
%564(--/8"RQ/?3$8"^(%-"3@"0H(%-($)"W?-(=/"Q56%-;$?/%S"RY?-36/'"*+++S"
!S"&'/=(35%7>"V.€$/N:357/$?";$8"K3/?.%-";$8""K3/?.%-"Q?./'($)"W)'/=3a"($"*++T"ZWw0Va"
"
"
"
è"
G)'$%"*@52#)()&52*1)(5"25&*)"*K5$,-".*6EE?*>QQ;:*
"
234&;$>"
^3?;-(3$"
:'385?-"
Z;>/'"_(-;7""""""""""""""""""""""""""""""""
"
"
"
Q&(/%%N1';$(;"
"
Q-g.7/'"W)'3?./4(/"
P(?'3%37"K;$8/7%"f46K"
K/$-%?.D/"5$8"Q;<;-MD("of"
_/->7N2./4(/"f46K"
2./4(?;7"L;6'(D"Z'5$3"
_3)/74;$$"
^/=/'D5%/$"
"
"
"
K;465')"
"
Q-;8/"
d/54h$%-/'"
d/54h$%-/'"
#77($)/$"
2';(7%./(4"
1%-($/H"f"d"
V;&('"
V;&('"9f"
U(5'3$"Z;>/'"
254;-37"
_3'3H""
W8(4(-'37"9f"
1$D';5-"0H"
VW"!e""
_/->N1$D';5-"@'/("
B5-;NQ5&/'"
"
1%/"
"
"
"
K/'6(?(8/"@3'"&34;?/35%"
@'5(-";$8")';&/=($/%a"&;-.%"
;$8"%&;?/%"<(-."<338>"
&7;$-%"R/A)A"-'//"$5'%/'(/%S,"
$3$N?'3&7;$8,"-';@@(?";'/;%"
^(?/$?/%"/H&('/"*++`m*++F""
"
"
;N^**D$%&'(5$2*%/*#$)/1'$-1)"*6!<0\!G*>QQ>9*GK*+?T0`*>QQQ:*
"
0%,@-".*
\%(-#)%"*
U3<"W)'3"Q?(/$?/"R4;$5@;?-5'/";$8"$3-(@(?;-(3$"3@"
-'(@75';7($"@3'"01"/=;75;-(3$S"
P;$/'6(3"L($?.(4(?;"R&'385?-(3$"3@"-'(@75';7($S""
P;D.-/%.(4"W);$"#$-/'$;-(3$;7"R$3-(@(?;-(3$"3@"
-'(@75';7($"@3'"01"/=;75;-(3$S"
+%'$(5*
K(-?.($"R1oS"
*+++~"
P;$/'6(3NZ'/%?(;"R#-S"
Z'5%%/7%"
*++*•"
*+++~"
•"#12^#U"*++*""""~"Uf"QWd2Yn"^(%-"3@";?-(=/"%56%-;$?/%";$8"$3-(@(/'%"@3'"<.(?.";"$3-(@(?;-(3$".;%"6//$"
%564(--/8"RQ/?3$8"^(%-"3@"0H(%-($)";?-(=/"%56%-;$?/%S"RY?-36/'"*+++S"
"
?'#8%$)25&*#$)/1'$-1)"*@52#)()&52*)"*K5$,-".*6EE?*>QQ;:*
"
0%,@-".*
\%(-#)%"*
D$%&'(#*
U3<"W)'3"Q?(/$?/"f46K"
"
Q-g.7/'"W)'3?./4(/"
L/($?./4(/"Q?.</68;"
"
1$(-/8":.3%&.3'35%"^-8A"
P5$(?."
"
Q-;8/"
0%?.</)/"
"
9;''($)-3$,"
2./%.('/"R1oS"
Q-A"W5)5%-($"
B'/@7;$"
07;$?37;$"
U/4/'(7"`F+"02"
P;46;"
Q?('3??3"
U/='($37"o346("2Q"
B'(@75'/H"
P;D.-/%.(4"W);$"
U/5-%?.7;$8"
#$85%-'>":'383--("2.(4(?.(" d3=;-/"P(7;$/%/"R#-S #&(@753'"
Q&W"
"
"
"
`t"
<25*
"
"
./'6(?(8/"@3'"?;66;)/,"
?;''3-%,"';&/,"<($-/'"?3'$,"
%5$@73</'%"
"
^(?/$?/%"/H&('/"*++em
*++tA"
;N_***D$%&'(5$2*%/*&)(%/%1*6`+D?B*>QQ;9*GK*+?T0`*>QQ>:*
"
0%,@-".*
\%(-#)%"*
V3.4"}"K;;%n"&'385?-(3$"3@"U(?3@37,"$3-(@(?;-(3$"@3'"
01"/=;75;-(3$""
P3$-/?($;n"&'385?-(3$"3@"8(?3@37"
P;D.-/%.($"W);$n"$3-(@(?;-(3$"@3'"01"/=;75;-(3$"
*
2/%%;-/,"P(7;$"R#-S"
*+++|"
Z;'?/73$;"RQS"
Z'5%%/7%"RZS"
*+++|"
*++!~"
|"YQ:WV"*++!"""~"Uf"QWd2Y"*T`*J*++!"'/=A*""m""^(%-"3@";?-(=/"%56%-;$?/%";$8"$3-(@(/'%"@3'"<.(?."$3-(@(?;-(3$"
.;%"6//$";%%/%%/8";$8";&&/;'%"-3"6/";84(%%(67/"R*!AtA*++!S"RB.('8"^(%-"3@"0H(%-($)"01";?-(=/"%56%-;$?/%S""
"
;NP*D$%&'(5$2*%/*%$7-"%#)"*(%,@%'"&2*6BD?*>QQ>:c*
"
Y'-"
0%,@-"."
2'34&-3$"R&'385?-(3$""3@"($-/'4/8(;-/%,"6(3?(8/%,"&/%-(?(8/%," Z/')D;4/$"RUS"
?;-;7>%-%,"%-;6(7(%/'%S!S""
V/;)/$%"R&'385?-(3$""3@""?;-;7>%-%,"%-;6(7(%/'%S"
W-3@($;"R&'385?-(3$""3@"6(3?(8/%,"&/%-(?(8/%,"?;-;7>%-%,"
%-;6(7(%/'%S"
ZdB"R&'385?-(3$"3@"($-/'4/8(;-/%S"
V3.4"}"K;;%"R&'385?-(3$"3@"6(3?(8/%";$8"&/%-(?(8/%S"
W=/$-(%"U/5-%?.7;$8"R'385?-(3$"3'"(4&3'-"3@"?>./H;-($";$8"
L/$-($S"*S"
YH3$"#-;7>;"R$3-(@(?;-(3$"3@"?>./H;-($"@3'"01"/=;75;-(3$S"
ZWQL"R$3-(@(?;-(3$"3@""@/$65-;-($"@3'"01"/=;75;-(3$S"
07@"W-3?./4"W)'("R$3-(@(?;-(3$"3@"@/$65-;-($";$8"?>./H;-($"
@3'"01"/=;75;-(3$S"
Q35'?/"
#B"
d^"{"
*++*|"
*++*"•"
*++*|"
*++*|"
Z(--/'@/78"RUS"
2."
U"
*++*|"
*++*|"
*++*•"
P;(7;$8"R#-S"
^58<()%.;@/$"RUS"
_7(%%($)/$"Rd^S"
*+++~"
*++!~"
*++!~,"*++*•"
</6&;)/"
!S"
&'/=(35%7>"9(-?3"""*S"&'/=(35%7>"W)'/=3,"@3'4/8"6>"Q?./'($)";$8"K3/?.%-"
|"V(%D";$8":37(?>"W$;7>%-%"RV:WSa"W%%/%%4/$-"3@"-./"'(%D"-3"./;7-.";$8"-./"/$=('3$4/$-"&3%/8"6>"-./"5%/"3@"
3');$3%-;$$(?"?34&35$8%"R/H?758($)"5%/";%"6(3?(8/"($";$-(@357($)"&;($-%S";$8";"8/%?'(&-(3$"3@"-./"/?3$34(?"
&'3@(7/"3@"-./"($85%-'>a"L($;7"V/&3'-"@3'"-./"05'3&/;$"2344(%%(3$"RUf"0$-/'&'(%/S,"*++*"
~""Uf"QWd2Y"*T`*J*++!"'/=A*""m""^(%-"3@";?-(=/"%56%-;$?/%";$8"$3-(@(/'%"@3'"<.(?."$3-(@(?;-(3$".;%"6//$"
;%%/%%/8";$8";&&/;'%"-3"6/";84(%%(67/"R*!AtA*++!S"RB.('8"^(%-"3@"0H(%-($)"01";?-(=/"%56%-;$?/%S""
•"#12^#U"*++*"
"
?'#8%$)25&*%$7-"%#)"*@52#)()&52*)"*K5$,-".*6EE?*>QQ;:*
"
234&;$>"
^3?;-(3$"
:'385?-"
1%/"
ZWQL"
W=/$-(%"2'3&"
Q?(/$?/"f46K"
^58<()%.;@/$"
P5$(?."
B3'C5/"Re+I"@/$65-;-($" W?;'(?(8/"5%/8";);($%-"%&(8/'"4(-/%"($"
%-';<6/''(/%,"3'$;4/$-;7"&7;$-%,"<($/"
3H(8/S"
Z'/%-;$"@7h%%()""
e+I"@/$-($".>8'3H(8/"
*
"
`v"
R7(?/$%/8"5$-(7"*++`S"
L5$)(?(8/"5%/8";);($%-"-56/'"'3-"R7(?/$%/8"
-(77"*++T,"7(?/$?/"'/&/;7/8"W5)5%-"+!S"
`$7-"%*#)"*(%,@%'"&2*)"*@$%&'(#*4$-"&2*
"
Y');$3-($" ?34&35$8%" ;'/" @35$8" ($" $54/'35%" -/H-(7/" ;$8" &7;%-(?" &'385?-%A" W" %>%-/4;-(?"
3=/'=(/<"(%"$3-";=;(7;67/A"W"%/7/?-(3$"3@"6';$8N$;4/";'-(?7/%"?3$-;($($)"3');$3-($"?34&35$8%"
;'/"7(%-/8"($";&&/$8(H"Z*A"
"
*
;N;Q**D$%&'(5$2*%/*(-&,)',*6GB?b3*B?B*>QQ>:*
(
234&;$>"R;$8"&7;$-S"
235$-'>"
Q35'?/"
W%-5'(;$;"8/"j($?"
Q&;($"
"
Z'(-;$$(;"j($?"^(4(-/8"
W=3$435-."R1oS"
"
Z58/7"j($D"Z_"
d/-./'7;$8%"
"
0$('(%3'%/"
P/-;7/5'3&"d3'8"QAWAQA"
P/-;7/5'3&"9/%/'"j($D"f46K"
d3'M($D"
Y5-3D54&5"j($?"Yw"
V5.'Nj($D"f46K"
L73'(8(/$$/"2.(4(/"QA"WA,"R2;84(543H(8S"
#-;7>"
L';$?/"
f/'4;$>"
d3'<;>"
L($7;$8"
f/'4;$>"
Z/7)(54"
"
"
`F"
^(%-"3@"?34&;$(/%";%"
?3$-;($/8"($"-./"U';@-"
01"V(%D"W%%/%%4/$-"
V/&3'-"3$"2;84(54,"
*++*a"?/;%/8"
&'385?-(3$"'/43=/8"
;%"@;'";%"($8(?;-/8"($"
-./"-;67/A"
?@@5"&)F*E*>*[*I-=-$&%'2*2'42#-"(52*)"*/)")285&*@$%&'(#2*-"&*(%2,5#)(2*
"
W&;'-" @'34"]5%-";"@/<"/H?/&-(3$%"-./" 5%/" 3@".;M;'835%" %56%-;$?/%"($" $3$N?./4(?;7"&'385?-%"
%5?.";%"?3$%-'5?-(3$"4;-/'(;7%,"@5'$(-5'/,"/7/?-'3$(?";&&7(;$?/%,"?;'%,"%.3/%"3'"%&3'-%</;',";'/"
$3-"%56]/?-"-3";$>"3@@(?(;7"?3$-'37%"($"-./"01A"Y$7>"@3'"?.(78'/$X%"-3>%";$8"@338"&;?D;)($)";'/"
'/C5('/4/$-%" %34/<.;-" %-'(?-/'," 65-" -./%/" .;=/" $3-" 6//$" ;67/" -3" &'/=/$-" ?.(78'/$X%" -3>%"
?3$-;($($)"&7;%-(?(%/'%"-3H(?"-3"'/&'385?-(3$"@'34"6/($)"4;'D/-/8"@3'"8/?;8/%A"P5?."-./"%;4/"
;&&7(/%" -3" ?3%4/-(?%A" #$" %&(-/" 3@" %&/?(@(?" 7/)(%7;-(3$," /$=('3$4/$-;77>" .;M;'835%" %56%-;$?/%"
%5?.";%"73$)N7(@/,"6(3;??5457;-(=/,"-3H(?"45%D"?34&35$8%,"D//&";&&/;'($)"($"?3%4/-(?%A""
U5/"-3" -./"733&.37/%"($"7/);7"'/C5('/4/$-%".;'87>";$>"($@3'4;-(3$"(%"&567(?7>";=;(7;67/"3$"-./"
?3$-/$-" 3@" .;M;'835%" %56%-;$?/%" ($" /=/'>8;>" $3$N?./4(?;7" &'385?-%" ;$8" ?3%4/-(?%A" Y$7>" ($"
?3$%54/'" 4;);M($/%" 7(D/" A.$%" 3'" >;1A.$%" ;'/" -./" @($8($)%" 3@" -;')/-/8" ?./4(?;7" ;$;7>%(%"
'/)57;'7>"&567(%./8A"B./"@3773<($)"%/?-(3$")(=/%";$"3=/'=(/<"3@"&'385?-")'35&%";$8"6';$8%"($"
<.(?." 3$/" 3@" -/$" .;M;'835%" %56%-;$?/%" %/7/?-/8" ;%" /H;4&7/%" <;%" @35$8" ($" -./" 7;%-" @35'"
R&'385?-")'35&%S"J"-/$"R6';$8%S">/;'%A"
*
>N;*
I)+F&%7*2'$O5.*
"
B./"%56%-;$?/%"3@"($-/'/%-"</'/"%/;'?./8"@3'"($";"@577"-/H-"%/;'?."($">;1A.$%X%"&567(?;-(3$%"($"-./">/;'%"
!EE*"-3"*++*,"<(-."-./"@3773<($)"'/%57-%n"
!! &7;%-(?(%/'%J&.-.;7;-/%"
"
"
"
!*T".(-%"
!! 6'34($;-/8"@7;4/"'/-;'8;$-%"
"
"
"
!! ?.73'($;-/8"&;';@@($%"
"
"""""
"""
"""+".(-%"
!! $3$>7&./$37"
"
"
"
"
"""+".(-%"
!! -/$%(8/"
"
"
"
"
"v+".(-%"
!! 45%D"?34&35$8%" "
"
"
"
"v!".(-%"
!! 8(5'3$"
"
""tt".(-%"
"
"
"
"
"
""+".(-%" "
!! -'(@75';7($" "
"
"
"
"
""+".(-%"
!! 8(?3@37"
"
"
"
"
"
""!".(-%"
!! &/%-(?(8/%" "
"
"
"
"
!`!".(-%"
!! 3');$3-($"" "
"
"
"
"
F+".(-%"Rev"BZBJB:B";$8"*T"UZBS"
!! ?;84(54" "
"
"
"
"
E*".(-%"
"
#$";"%/?3$8"%-/&,"&'385?-")'35&%"($"<.(?."-./"%56%-;$?/%"?3$?/'$/8".;8"6//$"8/-/?-/8"</'/"%/7/?-/8A"
K/'/," .3</=/'," -./" ($8(=(85;7" %56%-;$?/%" ?3578" $3-" ;7<;>%" 6/" (8/$-(@(/8," 3'" -./('" ?3$?/$-';-(3$%"
8/-/'4($/8,"@'34"-./"-/H-%"/7/?-'3$(?;77>";=;(7;67/A""
d/<" ;$;7>%/%" ;'/" 6/($)" ($?3'&3';-/8" @3'" 45%D" ?34&35$8%" 6/?;5%/" ;" %56%-(-5-(3$" &'3?/%%" .;%"
4;$(@/%-7>" 6//$" -;D($)" &7;?/" %($?/" -./" 4(8N!EE+%" ;$8" -./" @($8($)%" 3@" -./" -/%-%" ($=37=($)" -./%/"
?34&35$8%"4;>"$3"73$)/'"6/"=;7(8"-38;>A"
L/<"-/%-"'/%57-%";'/";=;(7;67/"@3'"6'34($;-/8"@7;4/"'/-;'8;$-%"($"-./"4(8N!EE+%A"B./"4;]3'"&;'-"3@"-./"
.(-%"($"-./"@577"-/H-"%/;'?."(%"85/"-3"6'34($;-/8"@7;4/"'/-;'8;$-%"6/($)"4/$-(3$/8"($"-./";??34&;$>($)"
-/H-A"
d3"/7/?-'3$(?";%%/%%4/$-"<;%"&3%%(67/"@3'"$3$>7&./$37"?34&35$8%"3'"%&/?(@(?"&/%-(?(8/%A*
"
È"
de`3M+3*@$%&'(#*1)2#*
"
"#$%&'(!
"4*.(/#!
"*%%41+E!"$$4!
)#*+%!
34&%/#5!34&64*.(!71+%/#684*.(/#9:!,;<=>?=!@A*&+&..(/1+B!
"#$%&&'!()*'+)$,-!./0/./"1232"2.!45#**67!4")$*%*)$)!)8!0'9'*%7!
"%:,%;8):&!(&$';:!<*=!"%:,%:!><*=;+8):&#$-!!1.?03.@@!41#'=#*A#',7!
5+8):&'*#-!BC.5D0E!4><;;#$&)87!
5A)$,)=%9&!><*=:9A*#88F#$G)*=-!EH?D(2?EI!4(#&&',%!3'8)*#:#7!
.8,)!,#=!J'*=#$;+8#K#!,'&!LG#$$):9A<*K#*-!.I3.!43M*9A#*7!
J<$);8):&!J'=:-!ID13.@!4@#<N'#=7!
CD!6#$%&'(.!(/.(/(!
V8<#!(A)$T!58)*:9AG#9T#*!
0A#!>#&!(#&!(;$MA#$!5%%8!5<;;6!
>#A*T#!V)G6Y58)*:9AG#9T#*!I%F#86!0#==6!V#)$:!
>#A*T#!58)*:9AG#9T#*!]$'#*=:-!V#:&/Y@$/^!UR_/WO[!
>#A*T#!(;'#8Y5%%8!`1);;6!J'=:`-!V#:&/!Z[RPQUW!
(<*!a!(#)!58)*:9AG#9T#*-!V#:&/_RWP\WO!
]'bY58)*:9AG#9T#*!EF%8<&'%*!V#:&/Y@$/^!WR\P!QR[!
c<,G%Y5%%8-!V#:&/!\PP!ZQW!U!
58)*:9AG#9T#*!V#:&/!ZWQYQU[!
58)*:9AG#9T#*!,'&!F#$d'*T&#,!e#:&#88-!V#:&/!OPUY[R\!
(<,,#$!]<*!3'*'+)*&!c<*'%$Y5%%8!
(<*!a!(#)!J'*=#$;8)*:9AG#9T#*!,'&!B)9A-!V#:&/!QW![[!WUR!
(<*!e),#:!`3'*'Y58)*:9A;%%8`!
>##T#*=!e')*&Y58)*:9AG#9T#*-!V#:&/!U\UZQ\_!
f);+!"$#)&'%*!"8%<Y5%%8!
"
e+"
,&-.(*+'/!
!
!
!
5A&A)8)&!
0$+'/+(#*(1$+!
!
!
!
OPQ!&%!ORPQ!,KSTK!
2/*#!
!
!
!
OPPPSUQQQ!
!
!
c<86!UQQU!
BV0!'*!OU!;$%=<9&:!
!
0V0!'*!Z!;$%=<9&:!
!
D&A#$!%$K)*%&'*:!'*!W!
;$%=<9&:!!
UW!&%!WRUQ!!XKSTK!
!
UW!&%![R-\!!XKSTK!
!
UWQ!&%!\URR!XKSTK!
!
!
W\!&%!OOQ!KSTK!
!
5A&A)8)&#:!'*!)88!
;$%=<9&:!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
"
"#$%&'(!
)#*+%!
,&-.(*+'/!
0$+'/+(#*(1$+!
2/*#!
)*-F!"4*.(1'!)$$G.!
CC!"#$%&'(.!(/.(/%!
3#'*!V)=#:;)hG<9A!i!B#$!T8#'*#!3)$'#*Tj+#$-!.?(!EB202D@!43M*9A#*7!
!
<;!&%!U\!g!
P-Z!,KSTK!
_QU!!XKSTK!
O\O!!XKSTK!
!
!
?#K#*G%K#*+':9A!V)=#G<9A!F%*!@%$=Y(M=Yk#$8)K!
!
5A&A)8)&#:!
")=,'<,!
D$K)*%&'*:!
D$K)*%&'*:!
58)*:9A'!=):!V)=#N)**#*G<9A-!5#:&)8%dd'Yk#$8)K!
D$K)*%&'*:!
OR\!!XKSTK!
B#$!N#'h#!k%K#8-!E'*!E*=8%:G<9A!+M$!='#!V)=#N)**#-!3%$'&dYk#$8)K!
J*)<&:9A'-!=#$!G<*&#-!N#'9A#!V)=#:;)h-!])F%$'&Yk#$8)K!
5A&A)8)&#:!
5A&A)8)&#:!
")=,'<,!
!
")=,'<,!
]8),#$#&)$=)*&:!
")=,'<,!
]8),#$#&)$=)*&:!
]8),#$#&)$=)*&:!
<;!&%!U\!g!
<;!&%!U_!g!
OU!,KSTK!
!
B#&#9&#&!
!
BV0!
5A&A)8)&#:!
5A&A)8)&#:!
BV0!
5A&A)8)&#:!
BV0!
BV0!
!
WQ_!,KSTK!
O_Q!,KSTK!
ORQ!,KSTK!
_P-R!XKSTK!
\R[_!,KSTK!
\[[Q!XKSTK!
_P-R!XKSTK!
0I14%!./*(.!8$#!0*#.!
H!"#$%&'(.!(/.(/%!
VlGl!"%*+%$&!E8'%:-!e$/!Qm!!
(6*&A#:':!I<b!Qm!
,J15.&1(!
")$$6!D*#!Qm!!
E):6!V%G!3)b'!
5$',)!Qm!
?n,#$!V)G6Y()+#!Q!
?n,#$!V)G6Y(&)$!Qm!
(&%$9A#*,MA8#!(;)9#!Qm!,'&!V):':Y]'bYe#:&#88!4(#&7!
\Q!5$%=<9&:!&#:&#=!
?):<$#8!V)=#)*d<K!3%=#88!e8%G#!0$%&&#$!
.$'#88)!3%=#88!f#*&)!F%*!H*'F#$:Y0#b&'8!
(<*+8)'$!V)=#)*d<K!3%=#88!UUURR!
2*+''*'&6!V#)9A!,'&!]8)KK#!F%*!>%%8N%$&A!
E:;$'&!V)=#)*d<K!3UQW\!5%;!.$&!(N',:<'&!
.*'&)!V)=#)*d<K!3%=#88!3):'$)!
"
"
e!"
c<*#!UQQO!
B#&#9&#&!
B#&#9&#&!
3)6!UQQU!
!
"#$%&'(!
0F'41+E!,I$#(.!
)#*+%!
CK!"#$%&'(.!(/.(/%!
.='=):!"698'*K!?)9#:A%$&!
.::%:!1)8+!(A%$&:!
V'9698#:!1%:#!T<$d!,'&!I%K%!
e%*:%!V'T#Y(A%$&:!
e%$#!V'T#!>#)$-!V'T#!a!3%$#!I#':<$#!(A%$&!
1'*=!5$%!B$68#&#!(A%$&!
c)9T!>%8+:T'*!(;##=!(A%$&!H*':#b!
c#)*&#b!])A$$)=Y(A%$&-!3%=#88!V)$'!!!
(;)$T!?)=Y1%:#!V#:&/Y@$/^!PPZPP_O!
(;%$&+<8!?)=A%:#!T<$d!
(HeD'!@#%!5$%!(A%$&!H*':#b!
L*1+M*'G/(.!8$#!71%.!
0"3!5$%+'Y?)=Y1%:#!
CN!"#$%&'(.!(/.(/%!
.G#T%!?#K#*)*%$)T!K#8GS,)$'*#-!V#:&/Y@$/^!UU\/\PW!4'*dN':9A#*!#$:#&d&7!
.='=):!(Y.=':9);#!p!
.*d%*'!?#K#*o)9T#!
"A'8=$#*q:!0'&#b!?#K#*o)9T#!
]%$,'9<8)!?#K#*)*d<K!+M$!J'*=#$!
1#886!1)*:#*!1'8&%*!?)'*!c)9T#&!
c)T%YD!?#K#*o)9T#-!V#:&/Y@$/^!WPQYZ\R-!]G/!Q_!
c#)*&#b!?#K#*o)9T#!@#886!
JY>)6!58<:!J'*=#$Y?#K#*o)9T#!
J'=d!D*86!?#K#*Yc)9T#!
5)8%,'*%!J'*=#$Y?#K#*o)9T#!
5$l*)&)8!?#K#*,)*&#8!4=<$9A:'9A&'K!,'&!V8<,#*7!
?#K#*o)9T#!m!?<9T:)9T-!V#:&/Y@$/^!_ZZSOUQ!
0"3!J'*=#$Y?#K#*o)9T#!
0#88:!>#&N#)$!?#K#*o)9T#!3%=/!?c.\WQ!
"
e*"
,&-.(*+'/!
!
5A&A)8)&#:!
5A&A)8)&#:!
BV0!
D&A#$!%$K)*%&'*:!
BV0!
BV0!
5A&A)8)&#:!
0$+'/+(#*(1$+!
!!
UQU!,KSTK!
WWZ!,KSTK!
W[R!!XKSTK!
PPO!!XKSTK!
\Q_!!XKSTK!
O\U!!XKSTK!
O_O!,KSTK!
BV0!!
D&A#$!%$K)*%&'*:!
BV0!
ORQQ!!XKSTK!
WRW!!XKSTK!
OQR!!XKSTK!
5A&A)8)&#:!
5A&A)8)&#:!
BV0!!
5A&A)8)&#:!
5A&A)8)&#:!
0V0!'*!)88!c)9T#&:!!
\UU!,KSTK!
_\R!,K!STK!
UZ-R!!XKSTK!
OWW!,KSTK!
_ZQ!,KSTK!
UW!&%!OUQ!!XKSTK!
!
!
D&A#$!%$K)*%&'*:!'*!)88! UW!&%!WQZQQ!XKSTK!!
o)9T#&:!
5A&A)8)&#:!'*!_!o)9T#&:! B#&#9&#&!
!
!
2/*#!
3)6!UQQU!
3)$9A!UQQU!
"
"#$%&'(!
)#*+%!
,&-.(*+'/!
0$+'/+(#*(1$+!
7*#+/P*4!Q*.G.!
N!"#$%&'(.!(/.(/%O!
e#$A)$=!(9A$n=#$!
J'*=#$,):T#!I))YI))!!
r<##*!E8':)G#&A!
5A&A)8)&#:!
<;!&%!UW!g!!%+!5k" ]#G$<)$6!UQQO!
D&A#$!%$K)*%&'*:!
B#&#9&#&!
0V0!
D&A#$!%$K)*%&'*:!
5A&A)8)&#:!
0V0!
B#&#9&#&!
UUPRW!XKSTK!
U_!g!%+!5k"!
\\-[!XKSTK!
5A&A)8)&!!'*![!&$%<:#$:!
_W-RK!&%!UU\!KSTK!!
D&A#$!%$K)*%&'*:!'*!W!
&$%<:#$:!
BV0!'*!)88!&$%<:#$:!
UQQ!&%!_UQ\!XKSTK!
3'9A)#8!(9A<,)9A#$!
L*1+.(#$&./#.!8$#!71%.!
!
CR!"#$%&'(.!(/.(/%!
B'KK#$s:!V<==#8A%:#!
E<$%;N#)$!V<==#8A%:#!
1!a!3!?#K#*A%:#!
J'=:!)*=!]$'#*=:!V<==#8A%:#!
D:T)$s:!?#K#*A%:#!
5)8%,'*%!D9#)*-!D$'K'*)8!V<==#8A%:#!
58)6:A%#:!3)&:9AA%:#!
5$l*)&)8!?#K#*A%:#!
(,'86!3)&9AA%:#!
(&#;!2*!J'*=#$Y?#K#*8)&dA%:#!
0"3!J'*=#$Y?#K#*A%:#!
0#88:!>#&N#)$!3)&:9AA%:#!
!
2/*#!
3)$9A!UQQU!
UW!G':!WQZQ!XKSTK!!
")=,'<,!'*!58)6:A%#:! UW!&%!\[!,KSTK!
3)&:9AA%:#!<!1a3!
?#K#*A%:#!
UW!&%!W_!!XKSTK!
0V0!'*!J'=:!)*=!
]$'#*=:!<*=!'*!(&#;!'*/!
!
"
"
"
eT"
!
!
"#$%&'(!
V$)*=!
,&-.(*+'/!
0$+'/+(#*(1$+!
31#!Q*((#/..!
CS!6#$%&(.!(/.(/%!
]'b!a!]%b'!c<K#*=:<$+#$!
@#N!I'*#!@68%*Y('&dYI'#K#,)&$)&d#!.$&/Y@$/^!QPOOZQR!
5)*!0%6:!5)$)=':#Y(<$+#$-!I<+&,)&$)&d#!,'&!]#*:&#$!
?%6)8!V#)9A!(%8)$YI'#K#,)&$)&d#!
(;8):A!J'==6!3)&&$#::!i!J'*=#$,)&$)&d#!mSY!RZ!9,!
(&$)*=Y(#&!B#8;A'*!4J'*=#$,/-!V)88-!B#8;A'*7!.$&/!@$/!UO_ZZP!
(<*!a!(#)!G6!(',#b!(;%$&!I<+&,)&$)&d#-!.$&/!QPOOWRP!
(<*!a!(#)!I'#K#,)&/!U#$Y(#&!5k"!&$)*:;)$#*&-!V#:&/!P_[OZ[Z!
0A#!>#&!(#&!I<+&,)&$)&d#!0%&#Y@Y]8%)&!tW[[QR!
>#A*9T#!(;'#8!a!(;%$&!3)&$)&d#-!.$&/!O\O_W!
>#A*9T#!(;'#8!a!(;%$&!@'dd)!V%bY3)&$)&d#!5%;-!.$&/!O\U_Z!
>#A*9T#!(;'#8!a!(;%$&!('&dYI'#K#,)&$)&d#!@68%*-!.$&/O\QQZ!
f);+!"$#)&'%*!I<+&,)&$)&d#!
RT!6#$%&(.!(/.(/%!
.o<*K'8)T!@#N!2K8%%!O[Q!?!"f-!G8)<!
V'K!5)9T!Y!B$#),#$!OPQ!
V<*=#:N#A$:9A8)+:)9T!]#<9A&#$-!?'*K#8)'!rSVUO]SuQQP_SuQZZO!
]%<$!(#):%*:!p%:#,'&#!O[Q-!*)F6S9%G)8&!?!
e8%G<:!V'K!V%b!3<,'#*:9A8)+:)9T!
1)K8n+:!Y!D<&G)9T!t!OQ!
1'KA!5#)T!3<,'#*:9A8)+:)9T!?#=N%%=-!T%;;#8G)$!
2:8#!%+!J%=')T!Y!(<*=!O[Q!
c)9T!>%8+:T'*!?#K<8)$!"A#6#**#-!V):'9!@)F6!
I#:&$)!3'*'!I'KA&!3<,'#*:9A8)+:)9T!
3%<*&)'*!Ev<';,#*&!]'$#N)8T#$!2!
@D@D(E!OJK!V)K!3<,'#*:9A8)+:)9T!
@%$=':T!1'KA!5%'*&-!K$M*S:9A'#+#$!?!O[W9,!
D<$!58)*#&!J<*:&+):#$:9A8)+:)9T!D&)K%-!8%*K!
(/./3/!5%8)$!I'&#!
(9A8)+:)9T!E):6!5)T!OQQQ-!V#:&/Y@$/^!_U_/[W_Y[!
(9A8)+:)9T!?>!\QQ!
(9A8)+:)9T!(#F'88)S3)=$'=-!V#:&/Y@$/![\[[SQZ[!
k)<=#!0$)F#8!"%,;)9&!UUW!
>#A*9T#!D<&=%%$!5(I!e$)+'T-!V#:&/Y@$/^!RP[UUR!
0V0!'*!_!,)&&$#::#:!!
B#&#9&#&!
,4//61+E-*E.!
"
e`"
f5-$"
k5$/"*++!"
5A&A)8)&!'*!)88!;$%=<9&:! ZW!&%!OWQ!KSTK!
!
D&A#$!%$K)*%&'*:!'*!)88! UWQ!&%!URPQ!XKSTK!
;$%=<9&:!
")=,'<,!'*!(;):A!
J'==6!<*=!>#A*9T#!
(;'#8!a!(;%$&!
Q-OU!&%!Q-\_!,KSTK!
!
!
!
0V0!'*!_!;$%=<9&:!
!
!
B#&#9&#=!
]8),#!$#&)$=)*&:!'*!\!
;$%=<9&:!
!
D&A#$!%$K)*%&'*:!
B#&#9&#=!
!
!
OQQQ!&%!UZWW!KSTK!
!
!
UWQ!&%!\\\Z!XKSTK!
!
!
5A&A)8)&#:!'*!R!
;$%=<9&:!
k5$/"*++*"
"
"#$%&'(!
>*#%/+!<$./!
L&--/#!)$$(.!
"*(/+(UV/*(I/#!)$$(.!
)#*+%!
.B>!e)$&#*:9A8)<9AY(#&!(&)*=)$=-!0DD3YV.H3.?J0!
e)$='&#9A!r<)8'&j&:Ye#N#G#!>)::#$:9A8)<9A-!2JYJH@(0(0/Y!0E"1@2J!
e)$=%8!"8)::'b!e#N#G#Y>)::#$:9A8)<9A-!V.H1.H(!
e'K)*&!e)$&#*Y>)::#$:9A8)<9A-!5E0E?(E@!
I)v<)0#9!]8#b'!k#$!>)::#$:9A8)<9A-!I.rH.0E"!
3#':&#$Ye$<;;#!r<)8'&j&:N)::#$:9A8)<9A-!3E2(0E?Ye?H55E!
(9A8)<9AK)$*'&<$!T%,;8#&&!,'&!_!&8K/!.$,)&<$#*:#&-!0DD3YV.H3.?J0!
k#$:&j$T&#$!e)$&#*:9A8)<9A-!V.H1.H(!
(&'#+#8!,'&!c)*%:9A!3%&'F-!VE(0!D]!(1DE(!4E::#*7!
5%8%,'*%!e<,,':&'#+#8-!"a.!4BM::#8=%$+7!
");&)'*:!?<GG#$!V%%&-!("1H1!1E((!41),G<$K7!w!
e/!@)::!e<,,':&'#+#8!,)$'*#-!V.Vp!>.If!4V)=!>)8=:##7!
J'=d!D*86!e<,,':&'#+#8-!J.H]1D]!4Jn8*7!
0#==6!(A%#:!e<,,':&'#+#8-!>.IY3.?0!4><;;#$&)87!
"%$&'*)!e<,,':&'#+#8-!BE2"13.@@!4E::#*7!
c#8)!e<,,':&'#+#8-!3%=#8!3)b-!cEI.!4J8#9F#7!
>#)&A#$!]$'#*=:-!J.?(0.B0!!
CS!"#$%&'(.!(/.(/%!
.$)!I)9T:&'#+#8!
B%**)!"A$':&'*)!I)9T:&'#+#8-!V#:&/@$/!QU_QSPZZ-!]G/!QO!
E:;$'&!J$':&'#!1/V%%&!_OQ\ZZ!
c#)*!5):9)8#!I)9T:&'#+#8!5$#9'%<:!(3/!
I)9T:&'#+#8!1%&Y(;%&-!V#:&/@$/^!PU\O[\Q!
I)9T:&'#+#8!3%=#8%!UZ_!\R_!
I)9T:&'#+#8-!OZQ\/U\P/QO!
3)$9%!B%*)&'!I)9T:&'#+#8!
5$#*&'::!I)9T:&'#+#8!
0)b'!I)9T:&'#+#8!
k')8)!I)9T:&'#+#8!
>%8+!I)9T:&'#+#8!
"
ee"
,&-.(*+'/!
0V0!
0$+'/+(#*(1$+!
2/*#!
Q-OZ!&%!Q-R_!,KSTK! 3)$9A!UQQQ!
D&A#$!%$K)*%&'*:!
")=,'<,!
Q-R!&%!O\-P!,KSTK!
!
@=!&%!UPQ!,KSTK!
0V0!
I#)=!
Q-QQOY!Q-QQ[!,KSTK! D9&%G#$!UQQQ!
OQQ!i!\WQQ!,KSTK!
D&A#$!%$K)*%&'*:!
Q-O\!i!!U-_!,KSTK!
!
")=,'<,!
@*!i!\QQ!,KSTK!w!
!
!
!
0V0!!
!
!
!
UW!&%!PQ!XKSTK!
Y-./'"3');$3-($%"
*e+"-3"EE`*"x)JD)""
B#9#,G#$!UQQO!
"
"#$%&'(!
"W0!X4$$#1+E!
)#*+%!
V%9)&%!5$#:&%!(#8G:&T8/!V%=#*+8'#:#*-!B),'#$!();A'#$-!VD".0D!!40$%':=%$+7!
"kYV%=#*G#8)K!"8#F#$!3)$,%$YB#:'K*-!V.H1.H(!43)**A#',7!
"kYV%=#*G#8)K!"%8%$:-!V.H1.H(!43)**A#',7!
"kYV%=#*G#8)K!])$%-!B#:'K*!J<A+8#9T#*-!0E552"1!]?2"J!4V<$KN)8=7!
"kYV%=#*G#8)K!]$)*d'*!(9A)9AG$#&&!:SN--!0E552"1!]?2"J!4V<$KN)8=7!
"kYV%=#*G#8)K!(%;%!1%8d-!.$&/Y@$/^!RPQ_O-!0.?JE00!4]$)*T#*&A)87!
])*&):6!.$&/Y@$/^!\[UUOQQ-!?)<&#*!G8)<SN#'h!,)$,%$'#$&!1D?@V."1!
4V%$*A#',7!
])*&):6!.$&/Y@$/^!ZQZOR[O-!A#88G8)<!,'&!e8'&&#$-!0DD3YV.H3.?J0!4Jn8*7!
]#G%8'&!])6#*9#!i!:#8G:&T8#G#*=#!#8):&':9A#!]8'#:#*-!]EVDI20!
4]$)*T#*&A)87!
e#$+8%$!"%8%$!(#8G:&T8#G#*=#!V%=#*+88-!eE?]ID?!40$%':=%$+7!
1%$*G)9A!]):A'%*!(#8G:&T8#G#Y]8'#:#*!.$&/Y@$/^!QZ__Z__!1D?@V."1!
4V%$*A#',7!
5k"!.8;A)!3)=#'$#!G8)<!4B#:'K*^!(&#'*G%=#*7-!5?.J02JE?!4J'$T#87!
5k"!D*6b!.$&/Y@$/^!URQPP-!K$)<,)$,%$'#$&-!BEJD0Eu!
0E552"1VDBE@"E@0?H3!4E::#*7!
5k"!$%&!,'&!3<:&#$^!K#:&)*d&#!J$#':#-!(D33E?!4I)*K#*A)K#*7!
5k"YV%=#*G#8)K!5':)-!1%8dG%=#*=#:'K*-!1D?@V."1!4V%$*A#',7!
0$#*=6!5k"YV#8)K!H,G$)-!B#:'K*!]':9AK$)&-!(D33E?!4I)*K#*A)K#*7!
"
et"
,&-.(*+'/!
!
!
!
5A&A)8)&#:!
0$+'/+(#*(1$+!
!
!
!
OQ!&%![U!KSTK!
!
!
0V0!
!
!
Q-QO!&%!\-W!,KSTK!
D&A#$!%$K)*%&'*:!
O!&%!\U!,KSTK!
!
!
2/*#!
3)6!UQQQ!
"
D$%&'(#*
?F/!0#/*5!
X$*5!)*(I!
,I$J/#!>/4!
?F/UQ*G/UY6UL/5$P/#!
<*1#!J*Z!
E$-"&*
+'42#-"(5*
0%"(5"#$-#)%"*
f5-$*
RN!"#$%&'(.!(/.(/%!
3%<:%*!.T&'FYI';%:%,#!.<K#*9$#,#!F%*!c)=#!!
Ebv<':'&!.<K#*!9$#,#!F%*!1'8=#K)$=!V$)<T,)**!
()*:!(%<9':!]'$,'*K!E6#!"$#,#!F%*!()*:!(%<9':!
RN!"#$%&'(.!(/.(/%!
.$%,)!5<$#!?#'*A#'&!F%*!pF#:!?%9A#$!
E*dG%$*!c%A)**':T$)<&!x8:9A)<,G)=!
I'&),'*!>#88*#::!
5%869698'9!,<:T:!
B#&#9&#=!
!
.;$'8!UQQO!
5%869698'9!,<:T:!
B#&#9&#=!
c)*<)$6!UQQU!
(#;&#,G#$!UQQO!
B'#&A68;A&A)8)&!
RH!6#$%&'(.!(/.(/%!
>#88*#::!B<:9AK#8!*)&<$)8!V)8)*9#!F%*!]8%$#*)!"%:,#&'9!
B'#&A68;A&A)8)&!
B#&#9&#=!
c)$='*:!=<!3%*=#-!]$':9A#YB<:9AK#8!F%*!pF#:!?%9A#$!!
5)8,%8'F#!@)&<$)8:!B<:9AK#8!16=$)&'*K!F%*!"%8K)&#Y5)8,%8'F#!
5%869698'9!,<:T:!
B#&#9&#=!
RK!6#$%&'(.!(/.(/%!
?'F)8!=#!I%%;!.<K#*!3)T#!H;!E*&+#$*#$!
RR!6#$%&'(.!(/.(/%!
.8;#9'*!e#8!>)b!
V)8#)!(&68'*K!e#8!#b&$)!:&)$T!
B$#'!>#&&#$!0)+&!1)'$!>)b!
]$<9&':!(&68#!e8%::6!>)b!:&)$T#$!1)8&!
]u!(;#9')8!(&<='%!I'*#!i!D<&!D+!V#=-!]'G#$!]%$,'*K!"$#,#!
]u!(&<='%!I'*#!"$':&)8s!>)b!(A'*#YE++#T&#-!<8&$)!8)*K#$!1)8&!
1);;6!1)'$!5#$+#9&!1))$!>)b!(A'*#!Eb&$)!(&$%*K!
J)$'&lY1))$9$#,#!
JM$!(&68'*K!>#&!e#8!<8&$)!:&)$T!
@'F#)!1)'$!")$#!(&68'*K!e#8!<8&$)!:&)$T#$!1)8&!
5%86!(N'*K!3%=#88'#$!>)b!Eb&$)!(&$%*K!
(N'::!%!5)$!J%T%:Y1))$N)9A:!
>#88)!A'KA!1)'$!(%8'=!>)b!:&)$T#$!1)8&!
.(!(&68'*K!e#8!<8&$)!:&$%*K!
5%869698'9!,<:T:!
B#&#9&#=!
3)6!UQQU!
@'&$%,<:T:!%$!
;%869698'9!,<:T:!'*!
WQg!
B#&#9&#=!
3)6!UQQU!
"
ev"
B'#&A68;A&A)8)&!'*!WQg! B#&#9&#=!
B'#&A68;A&A)8)&!!
B#&#9&#=!
@'&$%,<:T:!!
U!&%!OQ!,KSTK!
"
"#$%&'(!
]/$%$#*+(.!
)#*+%!
[\!6#$%&'(.!(/.(/%!
2,;<8:#!5)$+<,!B#%=%$)*&!k)*'88)!J'::#:!(;$)6-!EI2B.!].VE?ey!41),G7!
2,;<8:#!5)$+<,!B#%=%$)*&!k)*'88)!J'::#:!f#$:&j<G#$-!EI2B.!].VE?ey!!
V'%*:#*!B#%=%$)*&-!3.@@!a!("1?xBE?!4('#K#8:G)9A7!
V'%*:#*!(#*:'&'F!(;$)6!U_A-!3.@@a("1?xBE?!4('#K#8:G)9A7!
B)F'=%++!"%%8!>)&#$!>%,)*!(;$)6-!I.@".(0E?!43)'*d7!
]#*o)8!"$#,#!B#%-!5<,;i(;$)6-!cD1@(D@acD1@(D@!4BM::#8=%$+7!
]#*o)8!"$#,#!B#%-!(;$)6-!cD1@(D@acD1@(D@!4BM::#8=%$+7!
]8%$#*)!B#%!(#*:'&'F#-!B#%:;$)6-!]ID?E@.!4>)8=A#',7!
c'8!()*=#$!(<*!B#%-!c2I!(.@BE?!43)'*d7!
c%%;z!V#$8'*!3'8=!B#%-!I.@".(0E?!43)'*d7!
@)+!@)+!B#%!5)$+<,-!(/V/2/!45)$':7!
DG:#::'%*!B#%-!".Ik2@!JIE2@!4>'#:G)=#*7!
?#b%*)!U_A!2*&#*:'F#!B#%i(;$)6-!EI2B.!].VE?ey!41),G<$K7!
?#b%*)!U_!2*&#*:'F#!B#%!5<,;i(;$)6-!EI2B.!].VE?ey!41),G<$K7!
()&'*)!F%*!()*#b!B#%!(;$)6-!(.?.!IEE!4Jn8*7!
()&'*)!F%*!()*#b!B#%!f#$:&j<G#$-!(.?.!IEE!4Jn8*7!
0%,,6!e'$8!B#%!@)&<$)8!(;$)6-!0D33p!12I]2eE?!43M*9A#*7!
,&-.(*+'/!
!
!
!
!
@'&$%,<:T:!%$!
;%869698'9!,<:T:!!
!
!
!
!
!
0$+'/+(#*(1$+!
!
!
!
!
B#&#9&#=!
!
!
!
!
2/*#!
.<K<:&!UQQQ!
!
!
!
!
!
!
!
!
!
,$*6.www!
SN!6#$%&'(.!(/.(/%!
"8#%;)&$)-!"DIe.0EY5.I3DI2kE!
1MG*#$!5+8)*d#*n8:#'+#*-!1LV@E?!?E]D?31.H(!
3%*&)*)-!"I.?2@(!
?%K#$ae)88#&-!p(I!VE.H0E!
()*&#!?#'*#!5+8)*d#*n8!e869#$'*:#'+#*-!(.@0E!4V'%8)=#*7!
p)$=8#6!I<b<$6!(%);-!3HEI1E@(!
]8%$#*)!"$#,#:#'+#-!]ID?E@.!"D(3E02"!
()&'*)!F%*!()*#b!"$#,#!(#'+#-!(.?.!IEE!
pF#:!?%9A#$!0$)*:;)$#*&!:#'+#-!pkE(!?D"1E?!
[b_!'*&#*:'F#-!VE2E?(BD?]!
"%9%!I<b<$6!V)&A!(%);-!"1.@EI!
])-!("1>.?fJD5]!
J);;<:!0$)*:;)$#*&#!]$<9A&:#'+#*-!J.55H(!
!
!
!
!
!
!
@'&$%,<:T:!%$!
;%869698'9!,<:T:!!
!
!
!
!
!
!
!
!
B#&#9&#&!!
OPPP!
"
eF"
"
"#$%&'(!
)*#-1/!]$44.!
<*+%!"&66/(.!
A/+(!Q*(/#1*4!
)#*+%!
V)$G'#!?)'*G%N!5$'*9#::-!3.00EI!4B$#'#'9A7!
(68F')i3)$'#!I'+#!(&68#-!(23V.!0Dp(!4]M$&A7!
V$'&*#6!(;#)$:-!cDJE?!4"1iJ#$d#$:7!
1)N)''!J#*-!3.00EI!4B$#'#'9A7!
c#::'9)-!0Dp({?{H(!4Jn8*7!
()'8%$!3%%*-!2eEI!4")$8%N7!
(A#886!"8<G!I%$#*)-!3.00EI!4B$#'#'9A7!
(&#++'!I%F#!(T)&#!|@{!V%)$=-!(23V.!0Dp(!4]M$&A7!
c#::'9)-!0Dp({?{H(!4Jn8*7!
()'8%$!3%%*-!2eEI!4")$8%N7!
(A#886!"8<G!I%$#*)-!3.00EI!4B$#'#'9A7!
(&#++'!I%F#!(T)&#!|@{!V%)$=-!(23V.!0Dp(!4]M$&A7!
E8'&#!J):;#$8i0A#)&#$-!J.H]1D]!4Jn8*7!
c%A*!J):;#$8+'K<$!J):;#$-!cD1@!4]$#'8)::'*K7!
J'=C:!>%$8=!J):;#$8#!]'K<$#*-!"a.!4BM::#8=%$+7!
I'&&8#!5<;;#&i(A%N!J):;#$8i]'K<$#*-!(23V.!0Dp(!4]M$&A7!
3'*'!0A#)&$#!5<;;#&!(A%N--!2@0E?"D@0D?!fEJ!4@M$*G#$K7!
5<;;#&i(A%N-!J):;#$i]'K<$--!(23V.!0Dp(!40Dp(!|?{!H(7!4]M$&A7!
5<;;#&i(A%N!J):;#$i]'K<$#*-!(23V.!0Dp(!4]M$&A7!
E)K8#!D*#!0%<9A-!(/0?EJJ2@e!4rHEIIE7!
()8#F)!0):,)*')!222-!(.IE>.!
0)&%*T)!.$9&':!\-!0.0D@J.!
]%<$!(#):%*:!0'G#&-!]DH?!(E.(D@(!4eIDVE0?D00E?7!
c)9T!>%8+:T'*!p#88%N:&%*#!\-!c."J!>DI](J2@!
V<++)8%!V01!O[Q-!(23Eu!
0%<$WS1'KA!5#)T!")8'+%$*')!-!12e1!5E.J!4@#9T#$,)**7!
@#F)=)!222-!D00D!kE?(.@B!
I%=K#!W-!VE(0!".35!4D00D!kE?(.@B7!
"
eE"
,&-.(*+'/!
!
!
!
5A&A)8)&#:!
0$+'/+(#*(1$+!
!
!
!
B#&#9&#&!
2/*#!
B#9#,G#$!UQQQ!
D$K)*%&'*:!%&A#$!&A)*!
0V0!
Q-O!&%!UZ!,KSTK!
!
!
5A&A)8)&#:!
!
!
UOQ!&%!\\Q!KSTK!
B#9#,G#$!OPP[!
!
!
5A&A)8)&#:!
!
!
O\Q!&%!UZQ!KSTK!
c<86!UQQQ!
!
!
0V0!
!
Q-QQO!&%!Q-[!,KSTK!
D&A#$!%$K)*%&'*:!
O!&%!OW!,KSTK!
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
>N>***F0JF*,-7-=)"5*"
B./"5,0.&%.$%"?3$%54/'"4;);M($/"<;%";7%3"($=/%-();-/8"6>"?;''>($)"35-"3$7($/"'/%/;'?.A"B./"@($8($)%"
.;=/"6//$"?34&(7/8"($"-./"-;67/"6/73<A"
"
J7(,7B.@$K6'&.7&%7*,-7-=)"5*&-#-*%"*@%11'#-"#*(%"#5"#2*)"*@$%&'(#29*%"1)"5*$525-$(89*g'1.*>QQ;*
"
D$%&'(#*
352#*
G-#-*%"*@%11'#-"#2*
23735'"B_"
eJ+!"
#$=/%-();-/8"@3'"6'34($;-/8"@7;4/"'/-;'8;$-%,"$3$/"@35$8"
:2"43$(-3'%"
!*JEF"
$3"&3775-;$-%"@35$8"($"?;%($)%,"$3"43'/"8/-;(7/8"8;-;"
:2"43$(-3'%"
!*JEE"
$3"8;-;"3$"&3775-;$-%"
234&5-/'"
*JEE"
:3775-;$-%"@35$8"($"43$(-3'"?;%($)%"RK/<7/--":;?D;'8"
Z'(3"FeT!"Utt``B";$8"B3%.(6;"0C5(54"v!++"QS,"$3"
&'/?(%/"8;-;,"$3"8;-;"3$"/$=('3$4/$-;7"($8(?;-3'%"
234&5-/'"
!+JEE"
$3"8;-;"3$"&3775-;$-%"
234&5-/'"
!+J++"
$3"8;-;"3$"&3775-;$-%"
U(%.<;%./'"-;6%"
*J*++!" $3"8;-;"3$"&3775-;$-%"
U/-/')/$-"
!+J++"
:3775-(3$"3@"<;-/'%"<;%"/=;75;-/8,"$3"8;-;"3$";?-5;7"
%56%-;$?/%"
L733'"?3=/'($)%n"3$7>"
&;'C5/-"3'"7;4($;-/"
-/%-/8"
"
$3"8;-;"3$"&3775-;$-%"
P;--'/%%/%"
!J*++!" 3$7>"8;-;"3$"-'(?.73'/-./$/"
U/&37(;-(3$"?'/;4%"
vJ*++!" $3"8;-;"3$"&3775-;$-%"
d().-"?'/;4%"
vJ*+++" :37>?>?7(?"45%D"?34&35$8%"\"!"&&4"@35$8"($"%(H"35-"3@"
-/$"?'/;4%"R($"-.'//"?'/;4%"\"!+"&&4Sn"W=3$,"d(=/;,"
Ô3'/;7,"_(?.>,"K3'43?/$-;"
#$%/?-"'/&/77;$-"
vJ++"
U(4/-.>7&.-.;7;-/"($"W%%(%-;$"Ph?D/$NQ-3&&"^3-(3$"
;$8":(M"Z5($"W$-(NP3%D(-3"W@-/'"Q5$S"
Y');$(?"=/)/-;67/%"
!+J++"
"
:/&&/'4($-"-/;"
!!J++"
$3"8;-;"3$"-./"&/%-(?(8/%"%/7/?-/8"($"-./"%-58>"
f'//$"-/;"
*JEE"
"
"
t+"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
?@@5"&)F*E*A*[**G-#-*/%$*+'42#-"(5*B)2C*D$%/)152"
ANQ*+(-1)"7*-"&*,5#8%&2*
"
B./" '(%D" &'3@(7/" @3'" &'3&/'-(/%" 3@" %56%-;$?/%?73%/7>" '/7;-/%" -3" -./" YQ:WV" %-';-/)>" 3$" -./"
&'3-/?-(3$" 3@" -./" 4;'($/" /$=('3$4/$-" @'34" .;M;'835%" %56%-;$?/%" ;$8" -./" ?5''/$-" %-;-/" 3@"
8(%?5%%(3$"($"-./"01"3$"-./"(8/$-(@(?;-(3$"3@"&/'%(%-/$-,"6(3;??5457;-(=/";$8"-3H(?"%56%-;$?/%"
R:ZBSA" B./" 73</%-" 7/=/7" 3@" ?3$?/'$" (%" ;%%()$/8" -3" -.3%/" &'3&/'-(/%" <.(?." ?3578" &'34&-"
?7;%%(@(?;-(3$"3@G8;$)/'35%"@3'"-./"/$=('3$4/$-G"@3'";"%56%-;$?/";??3'8($)"-3"01"7/)(%7;-(3$A"
B./".()./%-"7/=/7"3@"?3$?/'$"(%";%%()$/8"($"?;%/"%56%-;$?/%".;=/":Y:N7(D/"&'3&/'-(/%A""
"
B./"4/;%5'/8"/H&3%5'/"3@"-./"/$=('3$4/$-"'/%57-%"@'34"-./"%56%-;$?/%X"4;'D/-"=3754/%,"-./('"
'/%&/?-(=/"&;--/'$%"3@"5%/";$8"-./('"@;-/"($"-./"/$=('3$4/$-A"B./"%56%-;$?/%";'/"&'/%/$-/8"<(-."
?3$?/$-';-(3$%" ($" 8(@@/'/$-" /$=('3$4/$-;7" 4/8(;a" -./%/" $/)7/?-" %($)7/" &/;D" =;75/%" 65-" ;'/"
)/$/';77>"3'(/$-/8";-"->&(?;7".()."/$=('3$4/$-;7"?3$?/$-';-(3$"7/=/7%"@35$8"($"-./"E+%A""
"
+<E+3?T0M*DB`DMB3!M+*
"
23$?/'$"
K()."
23$?/'$"
:"
d3-"/;%(7>"8/)';8;67/"($"<;-/'"!S"
!"
d3-"/;%(7>"
"
Z"
Z(3;??5457;-(3$"
*"
B<;%%/'"
W?5-/"-3H(?(->"-3"<;-/'"3');$(%4%""
2.'3$(?"-3H(?(->"-3"<;-/'"3');$(%4%"
2;$?/'3)/$(?,"45-;)/$(?,"'/&'3-3H(?,"
R2PVS,"/$83?'($/"8(%'5&-(3$"
T"
Z2L"\"!++"
"
z"!++++"x)J7"
z"!+++"x)J7"
Q5%&(?(3$"""
2;-/)3'>"###"
Z2L"\"e++"
"
z"!+++"x)J7"
z"""!++"x)J7"
0$83?'($/"/@@/?-%"
($"@(%.,"%$;(7%,"
6('8%""
"
+,!"m"!"x)J7"
\"!"4)"
\"!"4)"
\"!+"x)"
2,P,V"
DBM++<BM*
2<;-/'"
P/;%5'/8"?3$?/$-';-(3$"($"@'/%."<;-/'"
2%/8(4/$-" 23$?/$-';-(3$"($"%/8(4/$-%"&A"D)""
26(3-;"
23$?/$-';-(3$"($"3');$(%4%""&A"D)"
2.54;$"
Z'/;%-"4(7D,"67338"&A"D)"@;-"
`"
"
e"
t"
v"
F"
"
d9f"m"+,!"
\"+,!"4)""
\"+,+!"4)"
\"!"x)"
_/'>".().""
23$?/'$"
$3-"($./'/$-7>"
3'"\"`+Jt+`T"8;>%"
.;7@"7(@/""
"Z2L"\"*+++"
"
z"!++"x)J7"
z"!+"""x)J7"
2;-/)3'>""#"~"##"3'"
=/'>"8;4;)($)"-3"-./"
(445$/"%>%-/4""
"
!N!+"x)J7"
\"!+"4)"
\"!+"4)"
\"!++"x)"
"
!S"U/)';8;6(7(->"($"Y02U"%-;$8;'8N%?'//$($)"-/%-"3'"%(457;-(3$"-/%-"R.;7@"7(=/%S""
*S" B./" 6(3?3$?/$-';-(3$" @;?-3'" ;%" 4/;%5'/8" ($" %-;$8;'8" /H&/'(4/$-%" ($8(?;-/%" .3<" %-'3$)7>" ;" %56%-;$?/"
;??5457;-/%"($")(77N6'/;-.($)"3');$(%4%"R43%-7>"@(%.S"?34&;'/8"-3"-./"?3$?/$-';-(3$"($"-./"%5''35$8($)"<;-/'A""
TS" ^3</%-" /@@/?-" ?3$?/$-';-(3$" (%" 8/-/'4($/8" ($" %.3'-N-/'4" ;$8" 73$)N-/'4" /H&/'(4/$-%" <(-." @(%.," 8;&.$(;" ;$8"
;7);/A"
`S" V/&'3-3H(?," ?;'?($3)/$(?" 3'" 45-;)/$(?" /@@/?-%" 8/43$%-';-/8" ($" ;$(4;7" -/%-%" ;'/" ?7;%%(@(/8" ($" -./" 2PV"
?;-/)3'>"##"(@"-./>"?;$"6/"/H-';&37;-/8"-3".54;$%";7%3A"#@"-./'/";'/"8356-%"-.;-"-./"/@@/?-%"%.3<$"($";$(4;7%"?3578"
;7%3"3??5'"($".54;$%"3'"($"3-./'";$(4;7"%&/?(/%,"-./>";'/"?7;%%(@(/8"($"?;-/)3'>"###A"L3'"/$83?'($/"8(%'5&-(3$"($"
-./"/$=('3$4/$-,"$3"-/%-"3'"?7;%%(@(?;-(3$"%>%-/4"/H(%-%"($"-./"01">/-A""
e";$8"tS"B./"?3$?/$-';-(3$"';$)/%"'/@/'"-3"05'3&/;$"'(=/'%";$8"83"$3-"($?758/"&/;D"?3$?/$-';-(3$%"83<$%-'/;4"
3@"($85%-'(;7"8(%?.;')/%A"
vS";$8"FSA"B./"?3$?/$-';-(3$"';$)/%";7%3"($?758/"?3$?/$-';-(3$%"@35$8"35-%(8/"3@"05'3&/A"B./"4;>"'/%57-"@'34"
;??5457;-(3$"($"-./"@338"?.;($";%"</77";%"8('/?-"/H&3%5'/"($"-./"7(=($)";$8"<3'D($)"/$=('3$4/$-A""
"""""""""""""""""""""""""""""""""""""""""""""""""
`T
"t+"8;>%".;7@N7(@/"5$8/'"4;'($/"?3$8(-(3$%";$8"`+"8;>%"5$8/'"@'/%.<;-/'"?3$8(-(3$%"3@"$3"4;'($/"8;-;";=;(7;67/"
t!"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
B./" '/7/=;$-" 8;-;" 3$" %56%-;$?/%" .;=/" 6//$" ?34&(7/8" ($" -./" @3'4" 3@" @;?-" %.//-" -;67/%A" B./"
@3773<($)"-;67/"?3$-;($%"-./"/H&7;$;-(3$%"3$"-./"4/-.38373)(?;7"&'3?/85'/A"B./"'/7/=;$-"8;-;"
%35'?/%";'/"($8(?;-/8"6/73<"/;?."%56%-;$?/"8;-;"%.//-A"
"
T-,5*
B/?.$(?;7"@5$?-(3$"
01"4;'D/-"=3754/"
01"&'385?-(3$"=3754/"
d546/'"3@"&'385?/'%"
:3-/$-(;7"$546/'"3@"($85%-'(;7"
5%/'%"
d546/'"3@"&3-/$-(;7"@($;7"5%/'%""
d546/'"3@"&3-/$-(;7"<;%-/"
4;$;)($)"?34&;$(/%"
P;'D/-"-'/$8%"
0%%/$-(;7"5%;)/"
($"I"4;'D/-"=3754/"
0%%/$-(;7"'/7/;%/"-3"/$=('3$4/$-"
@'34"&'385?-(3$"
0%%/$-(;7"'/7/;%/"-3"/$=('3$4/$-"
@'34"&'3?/%%($)"
MF@1-"-#)%"*
B/?.$(?;7"@5$?-(3$"3@"%56%-;$?/"($"&'385?-%"3'"->&/"3@"&'385?-"($"
<.(?."-./"%56%-;$?/"(%"5%/8A"
Q;7/%"($"</%-/'$"05'3&/"85'($)"-./"%/?3$8".;7@"3@"-./"E+%a"<(-.35-"
(4&3'-";%"?34&3$/$-"($"G$3$N?./4(?;7G"&'385?-%"
:'385?-(3$"($"</%-/'$"05'3&/"85'($)"-./"%/?3$8".;7@"3@"-./"E+%"
d546/'"3@"&'385?/'%"($"</%-/'$"05'3&/"R<(-.35-"(4&3'-/'%S``"
B./"$546/'"3@"4;$5@;?-5'($)"?34&;$(/%"(%";"=/'>"'35)."
/%-(4;-(3$A"#-"(%"4/;$-"-3"8/&(?-"-./"';-(3"3@"-./"$546/'"3@"
($85%-'(;7"5%/'%";$8"-./"$546/'"3@"&'385?/'%";%"</77";%"-./"$546/'"
3@"&'(=;-/"/$8N5%/'%A"
!" W&&'3H(4;-/7>"TF,+++"?./4(?;7"?34&;$(/%"($"05'3&/a"
8(%-'(65-(3$"3=/'"%/?-(3$%"<(-."-5'$3=/'"8(%-'(65-(3$"($"05'3&/"
!EEFè"
!" d546/'"3@"?34&;$(/%"($"4($($)";$8"4;$5@;?-5'($)"($85%-'>"($"
f/'4;$>"($"!EE+n"`v,+++"?34&;$(/%"<(-."43'/"-.;$"*+"
/4&73>//%A"0H-';&37;-(3$"-3"01"<(-."@;?-3'"t"•"T++,+++a"
U(%-'(65-(3$"3=/'"%/?-(3$%"8/'(=/8"@'34"f/'4;$"@()5'/%`tA"
!" :7;%-(?"4;$5@;?-5'($)n"*,!++"?34&;$(/%"($"f/'4;$>,"
/H-';&37;-(3$"-3"01"<(-."@;?-3'"tA"
B./"-3-;7"01"&3&57;-(3$"(%";%%54/8"<./$";"%56%-;$?/"(%"5%/8";%";"
?34&3$/$-"($"?./4(?;7"&'385?-%"3'"3-./'")338%"<.(?.";'/"5%/8"6>"
?3$%54/'%,"($".;$8?';@-%,"3'"6>"&567(?"($%-(-5-(3$%"3'"@;'4/'%A"
d546/'"3@"<;%-/"-'/;-4/$-"?34&;$(/%"R7;$8@(77%,"($?($/';-(3$"
&7;$-%S"/H-';&37;-/8"3$"01"6>"@;?-3'"3@"%(H"@'34"f/'4;$"@()5'/%"
@3'"6/)($$($)"3@"E+%`v""
U/=/73&4/$-"3@"&'385?-(3$"3'"%;7/%,"8/&/$8($)"3$";=;(7;67/"8;-;"A"
1%/"($"?/'-;($";&&7(?;-(3$%";%"&/'"?/$-"3@"-3-;7"4;'D/-"=3754/"
2;7?57;-/8"<3'%-"?;%/"/4(%%(3$"-3";('";$8"<;-/'"@'34"-./"
&'385?-(3$"3@"-./"?./4(?;7"%56%-;$?/A"
2;7?57;-/8"<3'%-"?;%/"/4(%%(3$"-3";('";$8"<;-/'"@'34"@3'457;-(3$"
3@"%56%-;$?/"($-3";"?./4(?;7"&'385?-"R&'/&;';-(3$%S"3'"@'34"
($85%-'(;7"&'3?/%%($)"R4;$5@;?-5'/"3@";'-(?7/%SA"B./";%%54&-(3$"(%"
-.;-"v+I"3@"/4(%%(3$%"-3"<;-/'";'/"/$-/'($)"%/<;)/"&7;$-%";$8"T+I"
/$-/'($)"%5'@;?/"<;-/'"5$-'/;-/8A"W"E+I"/7(4($;-(3$"($"<;%-/"<;-/'"
-'/;-4/$-"&7;$-"(%"?;7?57;-/8"@3'"&7;%-(?";88(-(=/%,"<./'/6>";"43'/"
3'"7/%%".()."&/'?/$-;)/"(%"/$-/'($)"-./"/$=('3$4/$-"=(;"%&';>($)"
%/<;)/"%758)/"3$-3";)'(?57-5';7"%3(7A"
"""""""""""""""""""""""""""""""""""""""""""""""""
``
"U;-;"%35'?/n"#12^#U"*++*"R.--&nJJ/?6A]'?A(-Sa"RU';@-S"01"V(%D"W%%/%%4/$-"V/&3'-"5$8/'"vETJET,"YQ:WV"
U3?54/$-"+!J+`J!TN0"RQ-';-/)(/%"@3'"4;D($)"-./"01"P;'D/-"@3'".;M;'835%"%56%-;$?/%"43'/"-';$%&;'/$-S";$8"Uf"
QWd2Ya"R".--&nJJ/5'3&;A/5A($-J?344J@338J@%J&.y&%J&'3J($8/Hy/$A.-4S"
è
"U;-;"%35'?/n"20L#2a"L;?-"}"L()5'/%,"!EEF"
`t
"U;-;"%35'?/n"f/'4;$"Q-;-(%-(?;7"Y@@(?/a"L;?.%/'(/"!E,"V/(./"`"14</7-lD3$34(%?./"f/%;4-'/?.$5$)/$"!EE*"
`v
"U;-;"%35'?/n"14</7-65$8/%;4-a"U;-/$"M5'"14</7-"!EE*"
t*"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
T-,5*
0%%/$-(;7"'/7/;%/"-3"-./"
/$=('3$4/$-""@'34"5%/"3@"@($;7"
&'385?-%""
MF@1-"-#)%"*
2;7?57;-/8"<3'%-"?;%/"/4(%%(3$"3'"73%%/%"-3";('";$8"<;-/'"@'34"@($;7"
5%/"($"@3'4"3@"?./4(?;7"&'385?-"R&'/&;';-(3$%S"3'";%";"?34&3$/$-"
($"@($;7"&'385?-%"R;'-(?7/%S"($"($85%-'>,"65%($/%%";$8"&'(=;-/"
.35%/.378%A""
B./"8(@@5%/"73%%/%"-3";(',"<;-/'";$8"%3(7"@'34"&'385?-%"-.;-"'/4;($"
($"-./"/$=('3$4/$-";@-/'"-./"/$8"3@"-./('"%/'=(?/"7(@/"R/A)A"
5$8/')'35$8"?;67/%,"&;'-(?7/%"@'34"/'3%(3$"3@"%5'@;?/%S";'/";7%3"
-;D/$"($-3";??35$-"./'/A"
B./";%%54&-(3$"(%"-.;-"v+I"3@"/4(%%(3$%"-3"<;-/'";'/"/$-/'($)"
%/<;)/"&7;$-%";$8"T+I"%5'@;?/"<;-/'"5$-'/;-/8A"W"E+I"/7(4($;-(3$"
($"<;%-/"<;-/'""-'/;-4/$-"(%"?;7?57;-/8"@3'"&7;%-(?";88(-(=/%,"
<./'/6>";"43'/"3'"7/%%".()."&/'?/$-;)/"(%"/$-/'($)"-./"
/$=('3$4/$-"=(;"%&';>($)"%/<;)/"%758)/"3$-3";)'(?57-5';7"%3(7A*
0%%/$-(;7"'/7/;%/"-3"-./"
04(%%(3$%" -3" ;('," %3(7" ;$8" <;-/'" @'34" -./" 8(%&3%;7" 3@" <;%-/" ($"
/$=('3$4/$-"@'34"<;%-/"-'/;-4/$- 7;$8@(77%" 3'"($?($/';-(3$" &7;$-%" ;%"</77" ;%" @'34"'/?3=/'>" R;%" @;'" ;%"
8;-;" (%" ;=;(7;67/SA" 23$-;4($;-(3$" 3@" %3(7" -.'35)." 5-(7(%;-(3$" 3@"
%/<;)/"%758)/"(%"3$7>"C5;$-(@(/8"(@"-./"&'385?-"?3$?/'$/8"(%"4;($7>"
8(%&3%/8"3@"=(;"<;%-/"<;-/'"-'/;-4/$-"&7;$-%A""
L;-/"3@"%56%-;$?/";@-/'"%/'=(?/"7(@/" U5'($)"-./"5%/"3@"-./"&'385?-,"-./"?./4(?;7"%56%-;$?/"(%"&;'-(;77>"3'"
($"I"3@"4;'D/-"=3754/"R@()5'/%"
@577>"'/7/;%/8"($-3"-./"/$=('3$4/$-A"W@-/'"/H&(';-(3$"3@"-./"
'35$8/83@@S"
-/?.$(?;7"7(@/-(4/"3@"-./"&'385?-"-./"&;'-"$3-">/-"'/7/;%/8"($-3"-./"
/$=('3$4/$-"6/?34/%"<;%-/A"#-"(%"/(-./'"G@3')3--/$G"($"-./"
/$=('3$4/$-,"%($?/"?377/?-($)"(-"(%"-33"45?."/@@3'-,"3'"(-"(%"8(%&3%/8"
3@";%"<;%-/A"L3'"-.(%"3&-(3$"-./"'/7/;%/"(%";%%()$/8"-3";(',"<;%-/"
<;-/'"-'/;-4/$-"&7;$-%"3'"%5'@;?/"<;-/'%A"
B./"'/4;($($)"%56%-;$?/"(%";??3'8($)7>"?34&;'/8"-3"4;'D/-"
=3754/"3@"-./"%/?3$8".;7@"3@"-./"E+%A"
2'(-(?;77>"/H&3%/8"3');$(%4%"
Y');$(%4%"R($?758($)".54;$%S"<.3%/"/H&3%5'/"-3"-./"%56%-;$?/"(%"
%3".()."-.;-";8=/'%/"/@@/?-%"R-3"-./"43%-"%/$%(67/"3');$"3'"%&/?(/%"
($";$"/?3%>%-/4S"?;$"3??5'"3'"?;$";-"7/;%-"$3-"6/"/H?758/8"
B>&(?;7"/$=('3$4/$-;7"
B./"?3$?/$-';-(3$"($"@'/%."<;-/'"<.(?."(%"$3-"/H?//8/8"6>"E+I"3@"
?3$?/$-';-(3$%"
;77"%-;-(%-(?;77>"%35$8"4/;%5'/8"=;75/%"($"05'3&/;$"'(=/'%`F"
RE+I-(7/S"
B./"%-;-/8"4;')($%"@3'"<;-/'";$8"%/8(4/$-%"?.;';?-/'(M/"-./"
'/)(3$;7"?3$-;4($;-(3$"85'($)"-./"4(887/";$8"/$8"3@"-./"E+%a"73?;7"
&/;D%"85/"-3"%($)7/"&3775-/'%";'/")/$/';77>"$3-"($8(?;-/8"<./$"
'/)(3$;7"?3$-;4($;-(3$"?;$"</77"6/"8/%?'(6/8";$8";7'/;8>"7/;8%"-3"
?3$?/'$A"
2'(-(?;7"/@@/?-"3$"4;44;7%"
Y');$%";$8J3'"->&/"3@"-./";8=/'%/"/@@/?-"
2'(-(?;7"/@@/?-"3$"3-./'"3');$(%4%" Y');$%";$8J3'"->&/"3@"-./"8;4;)($)"/@@/?-"
2'(-(?;7"/H&3%5'/"3@"?3$%54/'%"
23$%54/'")'35&%";$8"/H&3%5'/"&;-.<;>"
:'(3'(->"/$=('3$4/$-;7"/H&3%5'/" B;H3$34(?")'35&"3@"3');$(%4%"<.(?.";'/"&;'-(?57;'7>"/H&3%/8A"
"
"""""""""""""""""""""""""""""""""""""""""""""""""
`F
"U;-;%35'?/n"05'3&/;$"2344(%%(3$n"Q-58>"3$"-./"&'(3'(-(%;-(3$"3@"%56%-;$?/%"8;$)/'35%"-3"-./";C5;-(?"
/$=('3$4/$-"R2YPP:QS,""k5$/"!EEE"
tT"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
"
AN;*
B/?.$(?;7"@5$?-(3$"
01"401"4;'D/-"=3754/"
01"&01"&'385?-(3$"=3754/"
d546/'"3@"&'385?/'%"
:3-/$-(;7"$546/'"3@"($85%-'(;7"5%/'%"
d546/'"3@"&3-/$-(;7"/$8N5%/'%"
d546/'"3@"&3-/$-(;7"<;%-/"4;$;)($)"
?34&;$(/%""
:'385?-(3$"8/=/73&4/$-"
P3%-"'/7/=;$-"5%/%"
#$"I"4;'D/-"=3754/"
V/7/=;$-"'/7/;%/%"@'34"&'385?-(3$"b-J;c
V/7/=;$-"'/7/;%/%"@'34"&'3?/%%($)"b-J;c"
V/7/=;$-"'/7/;%/"@'34"5%/"3@"@($;7"
&'385?-%"b-J;c"
"
|"*`++"-"'/7/;%/%"-3"<;-/'","vT++"-"-3""5&&/'"
%3(7%a"F*++"-"($"5$8/')'35$8"?;67/%"$3-"
?;7?57;-/8";%"/$=('3$4/$-;7"&3775-(3$A"
V/7/=;$-"'/7/;%/%"@'34"<;%-/"-'/;-4/$-"
L;-/";@-/'"/$8"3@"%/'=(?/"7(@/"($"I"3@"
4;'D/-"=3754/"R'35$8/8"=;75/%S"
"
|"($?758($)"*eI"3@"/'3%(3$"@'34"
%5'@;?/%"
GMID*h*G)5#8.185F.1@8#8-1-#5*
:7;%-(?(%/'%"($":37>4/'%"R43%-7>":_2S"
`F+A+++"-J;"
t++A+++"-J;"
\"!+"
:7;%-(?"P;$5@;?-5'/'%n"À+++"
Y-./'"#$85%-'(;7"P;$5@;?-5'/'%"\"!+A+++"
W&&'3H(4;-/7>"TFT"4(77(3$"?3$%54/'%"
9;%-/"-'/;-4/$-";$8"8(%&3%;7n"\"!+,+++"
V/?3=/'>"$3-"'/7/=;$-"
!Ev+J!EF+n"*++,+++"6(%"Te+,+++"-J;"
!EF+J!EE+n"Te+,+++"6(%"e++,+++"-J;"
!EE+J*+++n"e++,+++"6(%"t++,+++"-J;""
MF#5$"-1*'25*
Q.3/"%37/%"""""""""""""""""""""""""""""""""""""""""""""""""""""""""EA+""""
2;67/%"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""Àe"""""""""""""""""""""""
B;'&;57($,"-/$-%,"';($"?3;-%"""""""""""""""""""""""""""""""Àe"
2;'"5$8/'?3;-($)""""""""""""""""""""""""""""""""""""""""""""""!Ae"
V33@($)"4;-/'(;7""""""""""""""""""""""""""""""""""""""""""""""!Ae"
"
!"#5$)%$*'25*
L733'"?3=/'($)%";$8"<;77"&;&/'%""""""""""""""""""""""*e"
Q3@-"&7;%-(?"&'3@(7/%"R833'%,"<($83<%S"""""""""""""!T"
9('/%,"?;67/%""""""""""""""""""""""""""""""""""""""""""""""""""""!T"
B3>%,"6;6>"/C5(&4/$-"""""""""""""""""""""""""""""""""""""z"*"
"
`#85$2***************************************************************>S*
W('";$8"<;-/'""""""""""""""""""""""""""""""""""""""""""""""""**+""
W('";$8"<;-/'""""""""""""""""""""""""""""""""""""""""""""""""`T+"""""""""""""""""""""""""
""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""
B515-252*#%*?)$Yi-#5$c******************************A`++*
L733'"?7/;$($)"($%(8/"
V33@%";$8"-;'&;57($%"
:;($-%,"Q/;7%""
Q.3/"%37/%"
1%/8"&'385?-%"($"-./"/$=('3$4/$-""""""""""""""EAv++|"
R1$-/')'35$8"?;67/%S"""""""""""""""""""""""""""""""""""""""""""
0'3%(3$"@'34":_2"%5'@;?/%""""""""*
1$D$3<$"
Q/<;)/"%758)/"73;8""\"*+++"-J;"
V/7/;%/%"-3"-./"/$=('3$4/$-""""""""""""""""""T"I"
N" 9;-/'|""""""""""""""""""""""""""""""""""""!"I"
N" Q3(7"""""""""""""""""""""""""""""""""""""""""*"I"
P($/';7(%/8""""""""""""""""""""""""""""""""""""""""""!+"I"
^;$8@(77/8""""""""""""""""""""""""""""""""""""""""""""""Ft"I"
t`"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
AN;*
2'(-(?;77>"/H&3%/8"3');$(%4%"
GMID*h*G)5#8.185F.1@8#8-1-#5*
L(%./%"R{S"
P;'($/"4;44;7%";$8"6('8%"
Z;6(/%";$8"2.(78'/$"
B>&(?;7"/$=('3$4/$-;7"?3$?/$-;-(3$%" L'/%."<;-/'"""""""""""""""""""""""""""""""""""""""""""""!N!+"x)J7|"
"
Q/;"<;-/'"""""""""""""""""""""""""""""""""""""""""""""""5&"-3"+,t"x)J7"
|"E+I(7/"f/'4;$>"!,*e"x)J7,";=/';)/"+,t`" Q/8(4/$-%"""""""""""""""""""""""""""""""""""""""""!"N"*+"4)JD)"R8<S"
x)J7"
Z(3-;"RL(%./%,"P5%%/7%S"""""""""""""""""""""""*"N !T"4)JD)"R<<S"""""""""""
Z'/;%-"4(7D"""""""""""""""""""""""""""""""""""""""""!+"m"!t+"x)JD)"@;-"
2'(-(?;7"/@@/?-%"3$"4;44;7%"
0@@/?-"3$"-/%-(?7/%";$8"@/'-(7(->""
2'(-(?;7"/@@/?-%"3$"3-./'"3');$(%4%"
Q/H5;7"8(@@/'/$-(;-(3$"($"@(%./%"R%5%&(-(3$S"
:'(3'(->"/H&3%5'/"3@"?3$%54/'%"
2.(78'/$O%"-3>%"
#$@;$-"@3'457;"
L;-->"@338"
Z'/;%-"4(7D"
#$833'";('"
:'(3'(->"/$=('3$4/$-;7"/H&3%5'/"
L(%./%,"%/;"4;44;7%"3'"6('8%"-.'35)."@338"
"
0%%/$-(;7"'/@/'/$?/%|n"
"
!! U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"3$"U(/-.>7./H>7&.-.;7;-"RU0K:S,"V;&&3'-/5'"Q?.</8/$,"*++!a"
.--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%Ja"
!! YQ:WV"U3?54/$-a"Q:QR!S"+!J+eJ+*N0n"U';@-"YQ:WV"Z;?D)'35$8"U3?54/$-"3$":.-.;7;-/%"
!! 05'3&/;$"2344(%%(3$n"Q-58>"3$"-./"&'(3'(-(%;-(3$"3@"%56%-;$?/%"8;$)/'35%"-3"-./";C5;-(?"
/$=('3$4/$-"R2YPP:QS,""k5$/"!EEEa".--&nJJ/5'3&;A/5A($-J?344J/$=('3$4/$-J<;-/'J<;-/'N
8;$)/'%56J"
"
"
|"U';@-"01"V(%D"W%%/%%4/$-"V/&3'-%"</'/"5%/8";%"($@3'4;-(3$"%35'?/A"K3</=/',"45?."3@"-.(%"
($@3'4;-(3$""(%"%-(77"5$8/'"8(%?5%%(3$";43$)"-./"/H&/'-%"3@"-./"P/46/'"Q-;-/%A
te"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
"
AN>*
B/?.$(?;7"@5$?-(3$"
01"4;'D/-"=3754/"!EEE"
01"&'385?-(3$"=3754/"
d546/'"3@"&'385?/'%"
:3-/$-(;7"$546/'"3@"
($85%-'(;7"5%/'%"
d546/'"3@"&3-/$-(;7"/$8N
5%/'%"
d546/'"3@"&3-/$-(;7"<;%-/"
4;$;)($)"?34&;$(/%"
:'385?-(3$"8/=/73&4/$-"
P3%-"'/7/=;$-"5%/%"
($"I"4;'D/-"=3754/"
V/7/=;$-"'/7/;%/%"@'34"
&'385?-(3$"b-J;c"
V/7/=;$-"'/7/;%/%""@'34"
&'3?/%%($)"b-J;c"
"
V/7/=;$-"'/7/;%/%"@'34"5%/"
3@"@($;7"&'385?-%"b-J;c"
|43'/"-3H(?"?34&35$8%"4().-"
3??5'"($"-./"/$=('3$4/$-"
-.'35)."-./"&.3-3?./4(?;7"
8/?34&3%(-(3$"3@":ZU0"
E$%,)"-#5&*b1-,5*B5#-$&-"#2*
:37>6'34($;-/8"U(&./$>7/-./'%"R:ZU:0S",":37>6'34($;-/8"Z(&./$>7/%"
R:ZZS,"B/-';6'346(%&./$37"W"RBZZWS","K/H;6'343?>?73838/?;$/"R"
KZ2UUS"
L7;4/"V/-;'8;$-"
T*,+++"-J;"R`TI"BZZW,"*eI"KZ2U,"*TI"U/?;ZU0S"
"t,+++"-J;""
*"""
P;$5@;?-5'/'%"3@"&7;%-(?";$8"/7/?-'(?J/7/?-'3$(?";'-(?7/%""\"*+++"
TFT"4(77(3$"
B'/;-4/$-";$8"8(%&3%;7n"\"!+,+++"
V/?3=/'>"3@"/7/?-'(?";$8"/7/?-'3$(?"<;%-/n"\"!++"
Q7().-" 4;'D/-" )'3<-." ($" 05'3&/" ;'35$8" !,eI" R!EEF" m" *++TS," -.35)."
)'3<-.".;%"83<$<;'8"-'/$8A"
T+""I"2('?5(-"63;'8a""
!T""I":37>%->'37"?;6($/-"4;-/'(;7"
*!""I":Q"($%57;-($)"%56%-;$?/%"
""e"I""-/H-(7/"?3;-($)%"
""v"I"":37>/%-/'";$8":37>;4(8"@3'"/7/?-'3$(?"?34&3$/$-%"
:3-/$-(;77>"!N!+"-J;"@'34"&'385?-(3$"R43%-"7(D/7>"3=/'/%-(4;-/8S"
"U/?;,"BZZW";$8"KZ2U";635-"*T"-J;""
W635-"`F+"-J;"RU/?;";$8"KZ2U"@'34"-/H-(7/"<;%.($)";$8"&37>4/'"
&'385?-%S""
"
W635-"**+"-J;"RU/?;";$8"BZZWS"'/7/;%/%"@'34""<;%-/"'/4;($($)"($"-./"
/$=('3$4/$-S""
1$D$3<$"
Z'34($;-/8"8(3H($%"5$8"@5';$/%"@'34"-./'4;7"-'/;-4/$-"
04(%%(3$"3@"&/$-;ZU:0"<(-."7;$8@(77");%"&3%%(67/A"
L;-/";@-/'"/$8"3@"%/'=(?/"7(@/" V/7/;%/%"-3"-./"/$=('3$4/$-"""""""""""""""""""*"I""""""
($"I"3@"4;'D/-"=3754/"
P($/';7(%/8"""""""""""""""""""""""""""""""""""""""""""""!+"I"
R'35$8/8"=;75/%S"
^;$8@(77/8"""""""""""""""""""""""""""""""""""""""""""""""FF"I"
V/7/=;$-"'/7/;%/%"@'34"
<;%-/"-'/;-4/$-"
|"($?758($)"*eI"3@"/'3%(3$"
@'34"%5'@;?/%"
2'(-(?;77>"/H&3%/8"
3');$(%4%"
Q/8(4/$-"3');$(%4%,"%/;"4;44;7%,"6('8%"
6;6(/%|""""""""""""""""""""""""""""""""""""""""""""""""""""""""""|"73</'N6'34($;-/8"(%34/'%"
tt"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
AN>*
B>&(?;7"/$=('3$4/$-;7"
?3$?/$-;-(3$%"
2'(-(?;7"/@@/?-%"3$"
4;44;7%"
2'(-(?;7"/@@/?-%"3$"3-./'"
3');$(%4%"
:'(3'(->"/H&3%5'/"3@"
?3$%54/'%"
:'(3'(->"/$=('3$4/$-;7"
/H&3%5'/"
E$%,)"-#5&*b1-,5*B5#-$&-"#2*
:37>6'34($;-/8"U(&./$>7/-./'%"R:ZU:0S",":37>6'34($;-/8"Z(&./$>7/%"
R:ZZS,"B/-';6'346(%&./$37"W"RBZZWS","K/H;6'343?>?73838/?;$/"R"
KZ2UUS"
U;-;";=;(7;67/"4;($7>"@3'"&37>6'34($;-/8"8(&./$>7/-./'%";$8"($"%4;77"
;435$-"@3'"./H;6'34?>7?3838/?;$A""
Q/8(4/$-%"?73%/"-3"($85%-'>"RU/?;S" """""""""""""""""""""""""""""TA*++"x)JD)"8<"
Q/8(4/$-%"/%-5;'(/%"RU/?;S""""""""""""""""""""""""""""""""""""+,v"m"*++"x)JD)"8<"
Q/;"4;44;7%"R:/$-;S""""""""""""""""""""""""""""""""""""""""""!++"m"vv++x)JD)"L;-""
Z'/;%-"4(7D"R&/$-;,"Y?-;,"BZZWS" """""""""""""""""""""""""""""""""*N`x)JD)"L;-""
Z7338"'/?>?7($)"<3'D/'%"RU/?;S"""""""""""""""""""""""""""""""""""e"x)JD)"Z7338"@;-"
B';$%@3'4;-(3$"@'34".().7>"6'34($;-/8"-3"73</'"6'34($;-/8"
U(&./$>7/-./'%"3'"6(%&./$37"W"R@'34"BZZWS"&3%%(67/"
V/&'385?-(=/"-3H(?(->"R?;-/)3'>"##S"@3'"3?-;","7(=/'"8;4;)/"R:/$-;";$8"
KZ2US";$8"6/.;=(35';7"/@@/?-%"R:/$-;S"
K().7>"-3H(?"@3'";C5;-(?"3');$(%4%"R&/$-;"5$8"BZZWS""
L338"?.;($"R&/$-;";$8"KZ2US,")/$/';7"?3$-;4($;-(3$"-.'35)."
6'34($;-/8"@7;4/"'/-;'8;$-%"635$8"-3"&;'-(?57;-/%"R85%-S"($"-./";('a"
W??5457;-(3$"3@"&/$-;"R&3%%(67>";7%3"KZ2US"($"-./"@338"?.;($";$8"
8;4;)($)"/@@/?-"4;'($/"4;44;7%J6('8%a".;'4@57"/@@/?-%"@3'"%/8(4/$-"
3');$(%4%"($"-./"%5''35$8($)%"3@"/4(%%(3$%"%35'?/%"RU/?;SA""
"
0%%/$-(;7"V/@/'/$?/%|n"
"
!! 1ZW"B/H-/"*eJ+!"6(%"*vJ+!n"0';'6/(-5$)"=3$"Z/</'-5$)%)'5$87;)/$"M5'"Q56%-(-5-(3$"
54</7-'/7/=;$-/'"L7;44%?.5-M4(--/7"RZ;$8"!NTSa"*+++a""
!! 01"V(%D"W%%/%%4/$-"V/&3'-%"3$""
!! :/$-;6'348(&./$>7/-./'"RV;&&3'-/5'"1$(-/8"o($)834S,"*++*a".--&nJJ/?6A]'?A(-J/H(%-($)N
?./4(?;7%Ja"
!! U';@-"V/&3'-"3$"Y?-;6'3438(&./$>7/-./'"RV;&&3'-/5'"1$(-/8"o($)834"5$8"L';$?/S,"*++*a"
.--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%Ja"
!! U/?;6'3438(&./$7>/-./'"RV;&&3'-/5'"1$(-/8"o($)834"5$8"L';$?/S,"*++*a"
.--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%Ja"
!! U';@-"V/&3'-"3$"K/H;6'343?>?73838/?;$"RV;&&3'-/5'"Q</8/$S,"*++*"
!! U';@-"V/&3'-"3$"B/-';6'346(%&./$37"W"RV;&&3'-/5'"1oS,"*++*"
"
|""U';@-"01"V(%D"W%%/%%4/$-"V/&3'-%"</'/"5%/8";%"($@3'4;-(3$"%35'?/A"K3</=/',"45?."3@"-.(%"
($@3'4;-(3$""(%"%-(77"5$8/'"8(%?5%%(3$";43$)"-./"/H&/'-%"3@"-./"P/46/'"Q-;-/%A
tv"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
"
ANA*
B/?.$(?;7"@5$?-(3$"
01"4;'D/-"=3754/"
01"&'385?-(3$"=3754/"
d546/'"3@"&'385?/'%"
:3-/$-(;7"$546/'"3@"
($85%-'(;7"5%/'%"
d546/'"3@"&3-/$-(;7"/$8N
5%/'%"
d546/'"3@"&3-/$-(;7"<;%-/"
4;$;)($)"?34&;$(/%"
:'385?-(3$"8/=/73&4/$-"
P3%-"'/7/=;$-"5%/%"
($"I"4;'D/-"=3754/"
V/7/=;$-"'/7/;%/%"R#$&5-S"
@'34":'385?-(3$"b-J;c"
V/7/=;$-"'/7/;%/%"
R&3775-(3$J?3$-;4($;-(3${S"
@'34"&'3?/%%($)"b-J;c"
V/7/=;$-"'/7/;%/%"@'34"5%/"
3@"@($;7"&'385?-%"b-J;c"
081%$)"-#5&*D-$-//)"2*60D:*
Q.3'-N?.;($"RQ22:,"2!+N!TS,"4/8(54N?.;($"RP22:,"2!`N!vS,"73$)N?.;($"
R^22:,"2\!vS"
^56'(?;$-%,"&7;%-(?(%/',"@7;4/"'/-;'8;$-%"
W&&'3H(4;-/7>"t`"+++-J;""
!!`"+++-J;""
`"
P;$5@;?-5'/'%"3@"&7;%-(?"&'385?-%";$8"?./4(?;7%"&'385?-%"\""!,+++"
Y-./'"($85%-'(;7"4;$5@;?-5'/'%"\"!+,+++"
TFT"4(77(3$"
B'/;-4/$-";$8"8(%&3%;7"\"!+,+++"
U(%&3%;7"3@"8;$)/'35%"($85%-'(;7"<;%-/n"\"!++"
Y$7>"8;-;"6;%/8"3$"8/=/73&4/$-"3@"-5'$3=/'"
!EE`n";&&'3H(4;-/7>A"v+"+++-J;""
!EEvn";&&'3H(4;-/7>"vT"+++-J;""
!EEFn";&&'3H(4;-/7>"t`"+++-J;"R<./'/"@'34"FeI"P22:,"tI"Q22:";$8"
EI"^22:S"""
N" :7;%-(?(%/'"($":_2""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""teI"
N" #$"4/-;7"?5--($)"@75(8%"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!*I"
N" W%"&7;%-(?(%/'%"($"=;'$(%./%,";8./%(=/%";$8"%/;7($)"4;-/'(;7%""""""""EI"
N" W%"@7;4/"'/-;'8;$-"($"'566/'""""""""""""""""""""""""""""""""""""""""""""""""""""""""""tI"
N" W%"G@;--/$($)G"%56%-;$?/"($"7/;-./'"""""""""""""""""""""""""""""""""""""""""""""""*I"
$/)7()(67/"
N"!F+"-"4/8(54N?.;($";('"3'"<;%-/"<;-/'"@'34":_2"&'3?/%%($)"Re+I"
/;?.S"
B515-252*#%*-)$YL-#5$a """""""""""""""""""""""""""""""""""""""""""""""""!e++"""""""""""""""""""""""""
9;%-/"<;-/'"@'34"4/-;7"&'3?/%%($)"
"
9;%-/"<;-/'"@'34"7/;-./'"&'3?/%%($)"
|"TF+"-"3@"'/7/;%/%"-3";('";$8"
^3%%/%"@'34":_2";$8"'566/'"&'385?-%"
<;-/',";&&'3H(4;-/7>"!!++"-"-3"
<25&*@$%&'(#2*)"*#85*5"O)$%",5"#a""""""""""""""""""""""""""""!t++"|"
5&&/'"%3(7%,"!*+"-"-3"<;%-/"
<;-/'"-'/;-4/$-"&7;$-%"
1$D$3<$"
V/7/=;$-"'/7/;%/%"@'34"
9;%-/"B'/;-4/$-"
Q/<;)/"%758)/"73;8"\"*+++"-J;"
L;-/";@-/'"/$8"3@"%/'=(?/"7(@/" 0$=('3$4/$-;7"'/7/;%/%n"""""""e"I"
($"I"3@"4;'D/-"=3754/"
""""""N"<;-/'J;('""""""""""""""""""""""T"I"
R'35$8/8"=;75/%S"
""""""N"%3(7%""""""""""""""""""""""""""""""*"I"
P($/';7(%/8n""""""""""""""""""""""""!+"I"
^;$8@(77/8n"""""""""""""""""""""""""""Fe"I"
2'5%-;?/;$%"($"<;-/'";$8"%/8(4/$-%"
2'(-(?;77>"/H&3%/8"
3');$(%4%"
L(%.N/;-($)",4;44;7%"R($?758($)".54;$%S";$8"6('8%"
tF"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
ANA*
B>&(?;7"/$=('3$4/$-;7"
?3$?/$-;-(3$%"
"
|"U';@-"VWV"*+++"
2'(-(?;7"/@@/?-%"3$"
4;44;7%"
2'(-(?;7"/@@/?-%"3$"3-./'"
3');$(%4%"
:'(3'(->"/H&3%5'/"3@"
?3$%54/'%"
:'(3'(->"/$=('3$4/$-;7"
/H&3%5'/"
081%$)"-#5&*D-$-//)"2*60D:*
Q.3'-N?.;($"RQ22:,"2!+N!TS,"4/8(54N?.;($"RP22:,"2!`N!vS,"73$)N?.;($"
R^22:,"2\!vS"
L'/%."<;-/'"R2:!+N*+Sn"
+A!"m"+Ae"x)J7"|"
L'/%.<;-/'"%/8(4/$-%"R2:!+N*+Sn"
T++"m"!+++x)J7""""
L(%."R2:%.3'-J4/;$Sn""""""""""""""""""""""""""""""""""""""""""""""""""""`++"m"!e++x)JD)"<<|"
Z7566/'"@'34"6/75);"<.;7/%"R2:%.3'-J4/;$S"
""""""""""""""""*+"m"e+"4)JD)"
4/;$""
Z'/;%-"4(7D"R%.3'-";$8"4/8(54"?.;($S""""""""""""""""""""!+"m"!t"x)JD)"RL;-S"
^(=/',"D(8$/>";$8"-.>'3(8")7;$8"-543'%"3@"4;7/"';-%a"8/=/73&4/$-;7"
8(%3'8/'%"3@"';-%a"?;'?($3)/$(?"2;-"###"@3'"Q22:a"%()$(@(?;$-"8;-;"4(%%($)"
@3'"/%-(4;-(3$"3@"/@@/?-%"3$".54;$%A"
Q22:"5$8"P22:";'/"=/'>"-3H(?"@3'";C5;-(?"3');$(%4%,"/@@/?-N7/=/7"3$"
%4;77"?'5%-;?/;$%";-"!At"RdY02"@3'"P22:S";$8"e"x)J7"RdY02"@3'"
Q22:S"
23$-;4($;-/8"@338"R%./77%,"@(%.S"
WC5;-(?";$8"%/8(4/$-"3');$(%4%"($"-./"%5''35$8($)"3@"?34&;$(/%"-.;-"
&'385?/"3'"5%/"&'3?/%%($)"@75(8%"@3'"7/;-./'"3'"@3'"-./"4/-;7"&'3?/%%($)A"
^3$)N';$)/"-';$%&3'-"3@"2:%"5&"-3"W'?-(?"'/)(3$%A"
W??5457;-(3$"-.'35)."@338"?.;($,"%/?3$8;'>"&3(%3$($)"3@"@(%.N/;-($)"
6('8%"3'"4;44;7%"R.54;$%,"6/;'%S""
"
0%%/$-(;7"V/@/'/$?/%|"
"
!! YQ:WV"Q:Q"++JeJ!N0n"U';@-"YQ:WV"Z;?D)'35$8"U3?54/$-"3$"-./"f'35&($)"3@"Q56%-;$?/%"@3'"
W%%/%%4/$-":5'&3%/%,"Z;%/8"3$"0H;4&7/"3@"Q.3'-,"P/8(54";$8"^3$)"2.;($/8"2.73'($;-/8"
:;';@@($%"
!! 01"V(%D"W%%/%%4/$-"V/&3'-"3$"Q.3'-N2.;($"2.73'($;-/8":;';@@($%,"V;&&3'-/5'"1$(-/8"o($)834,"
*++!a".--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%Ja"
!! U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"3$"P/8(54N2.;($/8"2.73'($;-/8":;';@@($%,"V;&&3'-/5'"1$(-/8"
o($)834,"L/6'5;'"*++*a".--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%Ja"
"
"
|"U';@-"01"V(%D"W%%/%%4/$-"V/&3'-%"</'/"5%/8";%"($@3'4;-(3$"%35'?/A"K3</=/',"45?."3@"-.(%"
($@3'4;-(3$""(%"%-(77"5$8/'"8(%?5%%(3$";43$)"-./"/H&/'-%"3@"-./"P/46/'"Q-;-/%A
tE"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
"
ANJ*
B/?.$(?;7"@5$?-(3$"
01"4;'D/-"=3754/"
01"&'385?-(3$"=3754/"
d546/'"3@"&'385?/'%"
:3-/$-(;7"$546/'"3@"
($85%-'(;7"5%/'%"
d546/'"3@"&3-/$-(;7"/$8N
5%/'%"
d546/'"3@"&3-/$-(;7"<;%-/"
4;$;)($)"?34&;$(/%""
:'385?-(3$"8/=/73&4/$-"
P3%-"'/7/=;$-"5%/%"
($"I"4;'D/-"=3754/"
T%".1@85"%15#8%F.1-#5*6TDM:";$8""
T%".1@85"%1"Rd:S";%"65(78($)"673?D"($"d:0%"
d:0n"d3$"(3$(?"%5'@;?/N;?-(=/"%56%-;$?/%";$8"($-/'4/8(;-/"
d:n"vFAe++"-J;"Rt+I"@3'"d:0S"
d:0n"vvAt++"-J;""
d:n"vTAe++"-J;"
d:0n"!!F,+++-J;"
*"Rd:S"
P;$5@;?-5'/'%"3@"?./4(?;7"&'385?-%"R5%($)"d:0S"\"!+++""
"TFT"P(77(3$"?3$%54/'%";$8"/$-('/"65%($/%%"%/?-3'"
d3"-'/;-4/$-"3'"8(%&3%;7"
:3%%(67>"5-(7(%;-(3$"3@"45$(?(&;7"<;%-/"<;-/'"%758)/"
!EE`"m"!EEv"?3$%-;$-"
N" #$%-(-5-(3$;7"?7/;$($)"RT+IS"
N" W5H(7(;'>"($"&7;%-(?"&'385?-(3$"R!*IS"
N" W5H(7(;'>"($"-/H-(7/"&'3?/%%($)"R!+IS"
N" W5H(7(;'>"($"7/;-./'"&'3?/%%($)"RFIS"
N" 234&3$/$-%"($"&/%-(?(8/%"RtIS"
N" 234&3$/$-%"($":;($-%"ReIS"
N" #$-/'4/8(;-/"($"-./"?./4(?;7"($85%-'>"REIS"
#$"<;-/'n"e+"@'34"&'385?-(3$"3@"d:0"
V/7/=;$-"'/7/;%/%"R#$&5-S"
@'34"&'385?-(3$"b-J;c"
V/7/=;$-"'/7/;%/%"@'34"5%/"3@" V/7/;%/"-3"<;-/'n"""""""""""""""""""""""Fe+|""
@($;7"&'385?-%"b-J;c"
V/7/;%/"-3"%3(7n"""""""""""""""""""""""""""te++||"""
"
N" èI"27/;$($)"
|""@3'""T++"&'385?-(3$"8;>%"
N" !eI"B/H-(7/"@($(%.($)"
||"*+I"3@"d:0Y"'/7/;%/"-3"
N" tI"""^/;-./'"&'3?/%%($)"
<;%-/"<;-/'"-'/;-4/$-""-.'35)."
'/?3=/'>"3@"<;%-/"<;-/'"%758)/"
V/7/=;$-"'/7/;%/%"@'34"<;%-/"
-'/;-4/$-"
L;-/";@-/'"/$8"3@"%/'=(?/"7(@/"
($"I"3@"P;'D/-"_3754/"
R'35$8/8"=;75/%S"
"
|":;'-(;7"8/?34&3%(-(3$"($"
<;%-/"<;-/'"-'/;-4/$-"&7;$-"
;$8"<;%-/"($?($/';-(3$"
2'(-(?;77>"/H&3%/8"3');$(%4%"
"
"
0$=('3$4/$-;7"'/7/;%/%"""""""""""""""""""""""""""!+"I""
[*9;-/'""""""""""""""""""""""""""""""""""""""""""""""""""""""!I"
N"Q3(7""""""""""""""""""""""""""""""""""""""""""""""""""""""""""EI"
P($/';7(%;-(3$""""""""""""""""""""""""""""""""""""""""""è"I|"
B';$%@3'4/8";$8J3'"8(%&3%/8""""""""""""""""""è"I"
W7)/,"?'5%-;?/;$%,"@(%./%";$8"@(%."/;-($)";$(4;7%"
|"($"0$)7(%."'(=/'%"43'/"-.;$";$"
3'8/'"3@"4;)$(-58/".()./'"
||"@3'"`"x)J7"($"-./"'(=/'"
v+"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
ANJ*
B>&(?;7"/$=('3$4/$-;7"
?3$?/$-;-(3$%"
2'(-(?;7"/@@/?-%"3$"4;44;7%"
2'(-(?;7"/@@/?-%"3$"3-./'"
3');$(%4%"
T%".1@85"%15#8%F.1-#5*6TDM:";$8""
T%".1@85"%1"Rd:S";%"65(78($)"673?D"($"d:0%"
L'/%."<;-/'""
+,!"m"!"x)J7"d:"|""
Q/;"<;-/'n"
z"+,+F"m"+,T*"x)J7"d:"
Q/8(4/$-%n"
*++"m"*+++x)JD)"d:""8<"
L(%.n"
z"T+"m"!t++x)JD)"d:""8<||""
Z'/;%-"4(7Dn""""""""""""""""""""""""""""""""""""+AT"x)J7"d:"R-3-;7"4(7DS"
0$83?'($/"/@@/?-"3@"d:,"%5%&/?-/8"'/&'385?-(=/"-3H(?(->"R?;-"###S"""
d:0"(%"8/?34&3%/8"-3"d3$>7&./$37"Rd:S,"<.(?."(%"=/'>"-3H(?"@3'"
;C5;-(?"3');$(%4%"RW7)/S"5$8".;%"/$83?'($/"/@@/?-"RL(%./%SA""
d:";??5457;-/%"($"@(%./%"
L338"&;?D;)($)%"?;$"&3%%(67>"/4(-"$3$>7&./$37A"
:'(3'(->"/H&3%5'/"3@"
?3$%54/'%"
:'(3'(->"/$=('3$4/$-;7"
WC5;-(?"3');$(%4%"RW7)/,"L(%./%S"($"-./"%5''35$8($)%"3@"45$(?(&;7";$8"
/H&3%5'/"
($85%-'(;7"<;%-/"<;-/'"-'/;-4/$-"&7;$-%A"
"
0%%/$-(;7"'/@/'/$?/%|n"
"
!! 01"V(%D"W%%/%%4/$-"V/&3'-"3$"d3$>7&./$37a"V;&&3'-/5'"1$(-/8"o($)834,"*++*a"
.--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%Ja"
!! YQ:WV"U3?54/$-a"KQ2"+!JeJ*N0"RU';@-"YQ:WV"Z;?D)'35$8"U3?54/$-"3$"d3$>7&./$37";$8"
d3$>7&./$37/-.3H(7;-/%a"*++!"
!! f5/$-./',"oA"/-";7n"0$83?'($/"U(%'5&-($)"d3$>7&./$37%";'/"16(C5(-35%"($"L338a"
0$=('3$AQ?(AB/?.$37A,"TtRFS,"!tvtN!tF+,*++*a"
"
"
|"U';@-"01"V(%D"W%%/%%4/$-"V/&3'-%"</'/"5%/8";%"($@3'4;-(3$"%35'?/A"K3</=/',"45?."3@"-.(%"
($@3'4;-(3$""(%"%-(77"5$8/'"8(%?5%%(3$";43$)"-./"/H&/'-%"3@"-./"P/46/'"Q-;-/%A
v!"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
"
ANS*
B/?.$(?;7"@5$?-(3$"
01"4;'D/-"=3754/"
01"&'385?-(3$"=3754/"
d546/'"3@"&'385?/'%"
:3-/$-(;7"$546/'"3@"
($85%-'(;7"5%/'%"
d546/'"3@"&3-/$-(;7"/$8N
5%/'%"
d546/'"3@"&3-/$-(;7"<;%-/"
4;$;)($)"?34&;$(/%"
:'385?-(3$"8/=/73&4/$-"
P3%-"'/7/=;$-"5%/%"
($"I"4;'D/-"=3754/"
V/7/=;$-"'/7/;%/%"@'34"
&'385?-(3$";$8"&'3?/%%($)"
V/7/=;$-"'/7/;%/%"@'34"5%/"3@"
@($;7"&'385?-%"b-J;c"
"
"
R'2C[0%,@%"5"#2*
[* T)#$%[R'2C2*6e5#%"*'"&*j.1%1:*
[* D%1.(.(1)(*R'2C2*6II0E9*?I3T:*
Q56%-(-5-/"@3'"$;-5';7"45%D%"($"-./"3835';$-%"($85%-'>"
!`++"-J;"R<./'/"@'34"z"eI"o/-3$";$8"‚>737S"
*+++"-J;"
T"R&37>?>?7(?"45%D%S,"3-./'<(%/"3$7>"(4&3'-%"
t"4;($"&'385?/'%"3@"&/'@54/%"
&'385?/'%"3@"%3;&%,"8/-/')/$-%,"?3%4/-(?%"\"!+++"
W&&'3H(4;-/7>"TFT"4(77(3$"
+"R$3"-'/;-4/$-"3'"8(%&3%;7S"
&3%%(67>"5-(7(%;-(3$"3@""45$(?(&;7"%/<;)/"%758)/"
E*n"TeFT"-"R($"&/'@54/%S"
Een"*TtF"-"
EFn"*+*T"-""
;&&'3H(4;-/7>"T+I"/H&3'-"($"@($;7"&'/&;';-(3$%"
1%/";%"3835';$-"
N" #$"?3%4/-(?%"R/A)A"%3;&%,"&/'@54/%,"?'/4/%S"
N" #$"8/-/')/$-%"
N" #$"3-./'"834/%-(?"&'385?-%"
N" L3'"-/H-(7/"@($(%.($)"
d3-"'/7/=;$-"
V/7/;%/%"-3"<;-/'";$8"($8('/?-7>"3@"%3(7%n""
"
d(-'345%D%n"
"
"z"`+""
:37>?>?7(?"45%D%n"
z"!`++"
V/7/=;$-"'/7/;%/%"@'34"<;%-/" 1$D$3<$"
-'/;-4/$-"
L;-/";@-/'"/$8"3@"%/'=(?/"7(@/" 0$=('3$4/$-;7"'/7/;%/%"""""""""""""""""""""""""""""""""""""""""""""""""""""""""E+"I|"""
($"I"3@"4;'D/-"=3754/"
"N"9;-/'"R3'()($;7"%56%-;$?/";$8"8/?34&3%(-(3$"&'385?-%S"
R'35$8/8"=;75/%S""
"N"Q3(7"R%/<;)/"%758)/S"
|"4($/';7(M;-(3$"($"<;-/'"-'/;-N
P($/';7(%;-(3$"""""""""""""" """""""""""""""""""""""""""""""""""""""""""""""""""""""!+I|"""""""""""""""
4/$-"&7;$-%";$8"'/%3'&-(3$"
U(%&3%;7"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""+I"
-.'35)."%D($"$3-"-;D/$"($-3"
;??35$-"
2'(-(?;77>"/H&3%/8"3');$(%4%" L(%./%,"?'5%-;?/;$%,"<3'4%"
Z;6>%,"?3$%54/'%"3@"?3%4/-(?%"
B>&(?;7"/$=('3$4/$-;7"
L'/%."<;-/'"R4/;$%Sn""""""""""""""""""""""""""""""""""""""""""""""""""5&"-3"+,!"x)J7""
?3$?/$-';-(3$%"Rd(-'345%D%S" Q/;"<;-/'"R4/;$N4;HS""""""""""""""""""""""""""""""""""""""""""""""""""*+N*++"$)J7"
"
Q/8(4/$-%n"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""5&"-3"*e"x)JD)"R8<S"
||"83<$<;'8"-'/$8"@3'"B37537"5$8" L(%./%"R//7S"R4/;$%S"""""""""""""""""""""""""""""""""""""""""""""""!+"m"`+"x)JD)"R<<S"
‚>737"3@";635-"@;?-3'"T"%($?/"4(887/"
Z'/;%-"4(7D"R4/;$%S""""""""""""""""""""""""""""""""""""""""""""""""""T"m"*e""x)JD)"@;-"
3@"-./"E+%a"?3$?/$-';-(3$%"@3'"
&37>?>?7(?".()./'"6>";-"7/;%-"@;?-3'" """"""""""""""""""""R4;HS"""""""""""""""""""""""""""""""""""""""""""""""""""""""TF+"x)JD)"@;-"
!+"
v*"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
ANS*
2'(-(?;7"/@@/?-%"3$"4;44;7%"
2'(-(?;7"/@@/?-%"3$"3-./'"
3');$(%4%"
R'2C[0%,@%"5"#2*
[* T)#$%[R'2C2*6e5#%"*'"&*j.1%1:*
[* D%1.(.(1)(*R'2C2*6II0E9*?I3T:*
0$M>4/"($85?-(3$"3@"';-%"-.'35)."45%D"H>737"
U/=/73&4/$-;7"8(%3'8/'%"3@"';-%"-.'35)."45%D"D/-3$%a"%5%&/?-/8"
?;'?($3)/$A"
_/'>"-3H(?"@3'";C5;-(?";$8"%/8(4/$-"3');$(%4%,"-./"-3H(?(->"/=/$"
($?'/;%/%"<(-."-./"3??5''/$?/"3@"8/?34&3%(-(3$"&'385?-%"
RW4($345%D%SA"
V/%3'&-(3$"-.'35)."%D($"<(-."5%/"3@"?3%4/-(?%";$8"834/%-(?"&'385?-%,"
/%&/?(;77>"?'(-(?;7"@3'"45%D"D/-3$"
Q/8(4/$-";$8"%3(7"3');$(%4%"-.'35)."8('/?-"?3$-;4($;-(3$A"
:'(3'(->"/H&3%5'/"3@"
?3$%54/'%"
:'(3'(->"/$=('3$4/$-;7"
/H&3%5'/"
"
0%%/$-(;7"'/@/'/$?/%n|"
"
!! U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"3$"P5%D"‚>7/$/,"V;&&3'-/5'"B./"d/-./'7;$8%,"Q544/'"*++*"
!! U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"3$"P5%D"o/-3$/,"V;&&3'-/5'"B./"d/-./'7;$8%,"Q544/'"*++*""
!! YQ:WV"U#LL"EEJTJ!*N0n"U';@-"Z;?D)'35$8"U3?54/$-"?3$?/'$($)"07;63';-(3$"3@":'3)';4%";$8"
P/;%5'/%"3$"P5%D"‚>7/$/";$8"3-./'"P5%D%,"&'/%/$-/8"6>"Q<(-M/'7;$8,"!EEE"
"
|"U';@-"01"V(%D"W%%/%%4/$-"V/&3'-%"</'/"5%/8";%"($@3'4;-(3$"%35'?/A"K3</=/',"45?."3@"-.(%"
($@3'4;-(3$""(%"%-(77"5$8/'"8(%?5%%(3$";43$)"-./"/H&/'-%"3@"-./"P/46/'"Q-;-/%A
vT"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
"
AN]*
B/?.$(?;7"@5$?-(3$"
01"4;'D/-"=3754/"
01"&'385?-(3$"=3754/"
d546/'"3@"&'385?/'%"
:3-/$-(;7"$546/'"3@"
($85%-'(;7"5%/'%"
d546/'"3@"&3-/$-(;7"/$8N
5%/'%"
d546/'"3@"&3-/$-(;7"<;%-/"
4;$;)($)"?34&;$(/%"
:'385?-(3$"8/=/73&4/$-"
P3%-"'/7/=;$-"5%/%"
($"I"4;'D/-"=3754/|"
"
|"Y$7>"8(5'3$"5$8"B22"
A9J*G)(81%$-")1)"*WG0?Z*6*E')1&)"7*41%(C*-"&*,5#-4%1)#5*%/*G)'$%",*
\)"'$%","3$)(81%$%(-$4-")1)&5:*
K/'6(?(8/,";7)(?(8/a"6;?-/'(?(8/"
T+++"-J;"8(5'3$|"""""""""""""""""""""""""""""""""""""""""""|"'/@/'/$?/"V:W"*+++"
U2W"@3'"@5'-./'"&'3?/%%($)"($"-./"01"n"ÀTv+"-3"ÀEv+"-J;"
N" EF"I"8(5'3$,"7($5'3$"
N" ""*"I"-'(?.73'?;'6;$(7(8/"
*"
P;$5@;?-5'/'%"3@"./'6(?(8/"&'385?-%,"&'/%/'=;-(=/"@3'"?3$%-'5?-(3$"
<3'D,";$-(@357($)%"R8(5'3$,"7($5'3$S,"%3;&%";$8"8/383';$-%"
R-'(?.73'?;'6;$(7(8/S"\"!++"
TFT"4(77(3$"?3$%54/'%,"?';@-%4/$,".366>");'8/$/'%,"@;'4/'%,""
.3'-(?57-5'/";%"</77";%"&567(?";84($(%-';-(3$"
+"@3'"5%/"3@"./'6(?(8/%"
Q-;)$;-($)J83<$<;'8"-'/$8,"b$3"@5'-./'"7(?/$?/J'/)(%-';-(3$"($"Q</8/$"
;$8"f/'4;$>"R^($5'3$S"5$8"Q</8/$,"L($7;$8";$8"-./"d/-./'7;$8%"
R8(5'3$Sc""
N"""""K/'6(?(8/"@3'"&;-.%,"%C5;'/%,"';(7'3;8"%(-/%"
N" K/'6(?(8/";%&;';)5%"?57-(=;-(3$,"3'$;4/$-;7"-'//%,"?(-'5%"@'5(-%,"
?3--3$,"<./;-,")';%%"7;$8"""""""""""""""""""""""""""""""""""""""""""""""
N" W$-(@357($)"5$8";7)(?(8/"($"4;'($/"&;($-%,"%/;7($)"&'385?-%,"@;ƒ;8/"
&;($-%"
N" Z;?-/'(?(8/"($"%3;&";$8"?3%4/-(?%"
04(%%(3$"3@"8(?.73';$(7($n""*""-J;"
V/7/=;$-"'/7/;%/%"@'34"
&'385?-(3$"
d3-"'/7/=;$-"
V/7/=;$-"'/7/;%/%"@'34"
&'3?/%%($)"b-J;c"
V/7/=;$-"'/7/;%/%"@'34"5%/"3@" V/7/;%/%"-3"%3(7,"<;-/',";('n"\"T+++""
@($;7"&'385?-%"b-J;c"
N" K/'6(?(8/"8(5'3$"3$"%/;7/8"&;-.%";$8"%C5;'/%"
N" K/'6(?(8/"8(5'3$"($";)'(?57-5'/"R'/7/;%/%"-3"%3(7%S"
N" W$-(@357($)"&;($-%"
N" Z;?-/'(?(8/"B22W"($"%3;&%";$8"?3%4/-(?%"
L;-/";@-/'"/$8"3@"%/'=(?/"7(@/" !++I"/$=('3$4/$-"
($"I"3@"4;'D/-"=3754/"
U/?34&3%(-(3$"($"<;-/'"-3"8(?.73';$(7($RU2WS"
R@()5'/%"'35$8/8"3@@S"
2'(-(?;77>"/H&3%/8"3');$(%4%" W7);/,"?'5%-;?/;$%,"<3'4%"
L(%./%";$8"6('8%"
U(5'3$"@'/%."<;-/'""""""""""""""""""""""""""""""""""""""""""""""5&"-3"!"x)J7"RE+IS"
B>&(?;7"/$=('3$4/$-;7"
?3$?/$-;-(3$%"
U2W"@'/%."<;-/'"""""""""""""""""""""""""""""""""""""""""""""""""5&"-3"+,e"x)J7"RE+IS"
"
U2W"Q/8(4/$-""""""""""""""""""""""""""""""""""""""""""""""""""""+,!e"4)JD)|"
|"?;7?57;-/8"
U(5'3$"%/;"<;-/'"R?3;%-S"""""""""""""""""""""""""""""""""""""+,!"x)J7"
2'(-(?;7"/@@/?-%"3$"4;44;7%" Q5%&/?-/8"?;'?($3)/$"b?;-/)3'>"###c"R8(5'3$S,""
2'(-(?;7"/@@/?-%"3$"3-./'"
B3H(?"@3'";7);/";$8"<;-/'"&7;$-%"R8(5'3$S"
3');$(%4%"
K3'43$"7(D/"/@@/?-%"($"@(%./%"RU2WS";$8"?.'3$(?;77>".;'4@57"@3'";7);/,"
@(%./%,"?'5%-;?/;$%";$8"<3'4%"
v`"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
d3-"'/7/=;$-"
:'(3'(->"/H&3%5'/"3@"
?3$%54/'%"
:'(3'(->"/$=('3$4/$-;7"
U2Wn"L(%./%,"?'5%-;?/;$%,"%/8(4/$-"3');$(%4%a"-.'35)."@338"?.;($"
/H&3%5'/"
@(%./%";$8"6('8%a"8(5'3$n"L(%./%,"?'5%-;?/;$%"
"
0%%/$-(;7"V/@/'/$?/%|n"
"
!! U';@-"01"V(%D"W%%/%%4/$-""V/&3'-"3$"T,`"U(?.73'3;$(7($/a"V;&&3'-/5'"f/'4;$>a"*++!a"
.--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%Ja"
!! 05'3&/;$"2344(%%(3$n"Q-58>"3$"-./":'(3'(-(%;-(3$"3@"Q56%-;$?/%"U;$)/'35%"-3"-./"WC5;-(?"
0$=('3$4/$-""R2YPP:Q":'3?/85'/Sa"!EEE"
!! V(%D":37(?>"W$;7>%-%"RV:WSn"Q3?(3N0?3$34(?"#4&;?-%"3@"-./"#8/$-(@(?;-(3$"3@":'(3'(->"K;M;'835%"
Q56%-;$?/%"5$8/'"-./"9;-/'"L';4/<3'D"U('/?-(=/a"&'/&;'/8"@3'"Uf"0$=('3$4/$-a"U/?/46/'"
*+++a"""
"
"
|"U';@-"01"V(%D"W%%/%%4/$-"V/&3'-%"</'/"5%/8";%"($@3'4;-(3$"%35'?/A"K3</=/',"45?."3@"-.(%"($@3'4;-(3$""(%"
%-(77"5$8/'"8(%?5%%(3$";43$)"-./"/H&/'-%"3@"-./"P/46/'"Q-;-/%A
ve"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
"
AN^*
B/?.$(?;7"@5$?-(3$"
01"4;'D/-"=3754/"
01"&'385?-(3$"=3754/"
d546/'"3@"&'385?/'%"
:3-/$-(;7"$546/'"3@"
($85%-'(;7"5%/'%"
d546/'"3@"&3-/$-(;7"/$8N
5%/'%"
d546/'"3@"&3-/$-(;7"<;%-/"
4;$;)($)"?34&;$(/%"
:'385?-(3$"8/=/73&4/$-"
P3%-"'/7/=;$-"5%/%"
#$"I"P;'D/-"_3754/"
V/7/=;$-"'/7/;%/%"@'34"
&'385?-(3$"
V/7/=;$-"'/7/;%/%"@'34"
&'3?/%%($)"b-J;c"
3$)/1'$-1)"*
Q/7/?-(=/"./'6(?(8/"
T*++"-"
""{{"
*""
:'385?/'%"3@"&7;$-"&'3-/?-(3$"&'385?-%"\"!+"
*
"
"
"
"
"
\"!"4(77(3$"@;'4/'%"
"
d3-"'/7/=;$-"
"
d3"43'/"'/)(%-';-(3$J7(?/$%/"Rk;$5;'>"*++!S"($"Q</8/$,"U/$4;'D" "
;$8"-./"d/-./'7;$8%A"
"
!" P;($7>"<($-/'";$8"%544/'"';&/"
!" #$"%4;77";435$-%"<($-/'"<./;-,"<($-/'"6;'7/>,"?;66;)/,"
%5$@73</',"?3--3$";$8"%3];"
d3-"'/7/=;$-"
"
T*++""
"
"
V/7/=;$-"'/7/;%/%"@'34"5%/"3@" d3-"'/7/=;$-"
@($;7"&'385?-%"b-J;c"
"
L;-/";@-/'"/$8"3@"%/'=(?/"7(@/" !++I"'/7/;%/%"-3"-./"/$=('3$4/$-"
($"I"3@"4;'D/-"=3754/"
R'35$8/8"=;75/%S"
2'(-(?;77>"/H&3%/8"3');$(%4%" V(%D";%%/%%4/$-"$3-";=;(7;67/A"2'5%-;?/;$%JW7);/"&3%%(67>"
"
?'(-(?;77>"73;8/8A"
B>&(?;7"/$=('3$4/$-;7"
V(=/'"<;-/'"T"x)J7"RE+I(7/S,"*Avx)J7"R;=/';)/S"3$"-./"6;%(%"3@"Ft`" "
?3$?/$-;-(3$%"
4/;%5'/4/$-"=;75/%"@'34"t!"%-;-(3$%A"
2'(-(?;7"/@@/?-%"3$"4;44;7%" Q/$%(-(M($)"
"
_/'>"-3H(?"@3'"@(%./%a"dY02"@(%."+AT"x)J7"""
"
2'(-(?;7"/@@/?-%"3$"3-./'"
3');$(%4%"
"{"
"
:'(3'(->"/H&3%5'/"3@"
?3$%54/'%"
:'(3'(->"/$=('3$4/$-;7"
WC5;-(?"3');$(%4%,";??5457;-(3$"R6/?;5%/"Z2L"\"*+++S"?;$$3-" "
/H&3%5'/"
6/"/H?758/8"
"
0%%/$-(;7"'/@/'/$?/%"
"
!! 05'3&/;$"2344(%%(3$n"Q-58>"3$"-./":'(3'(-(%;-(3$"3@"Q56%-;$?/%"U;$)/'35%"-3"-./"WC5;-(?"
0$=('3$4/$-a"R2YPP:Q"&'3?/85'/Sa"!EEE"
!! YQ:WV"U3D54/$-"+!J+`J!TN0n"Q-';-/)(/%"@3'"4;D($)"-./"01"P;'D/-"@3'".;M;'835%"%56%-;$?/%"
43'/"-';$%&;'/$-a"
!! YQ:WV"L;?-%.//-"3$"B'(@75';7($a".--&nJJ<<<A3%&;'A3')JK;M;'835%""
"
vt"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
"
AN_*
B/?.$(?;7"@5$?-(3$"
01"4;'D/-"=3754/"
01"&'385?-(3$"=3754/"
d546/'"3@"&'385?/'%"
:3-/$-(;7"$546/'"3@"
($85%-'(;7"5%/'%"
d546/'"3@"&3-/$-(;7"/$8N
5%/'%"
d546/'"3@"&3-/$-(;7"<;%-/"
4;$;)($)"?34&;$(/%"
:'385?-(3$"8/=/73&4/$-"
P3%-"'/7/=;$-"5%/%"
#$"I"4;'D/-"=3754/"
V/7/=;$-"'/7/;%/%"@'34"
&'3?/%%($)"b-J;c"
V/7/=;$-"'/7/;%/%"@'34"5%/"3@"
@($;7"&'385?-%"b-J;c"
L;-/";@-/'"/$8"3@"%/'=(?/"7(@/"
($"I"3@"4;'D/-"=3754/"
R'35$8/8"=;75/%S"
2'(-(?;77>"/H&3%/8"3');$(%4%"
B>&(?;7"/$=('3$4/$-;7"
?3$?/$-';-(3$%"
2'(-(?;7"/@@/?-%"3$"4;44;7%"
G)(%/%1"Ro/7-.;$/"$/<S"
23$-;?-";?;'(?(8/"
T++"-J;"
!e++"-3"!F++"-J;"
*"m"T"
!"
v"4(77(3$"@;'4/'%"
d3$/"
d3"43'/"'/)(%-';-(3$J7(?/$?/"($"-./"d3'8(??35$-'(/%,"f/'4;$>";$8"-./"
d/-./'7;$8%"
K3&%"?57-(=;-(3$"R&3%%(67>"'/%(85/%"($"6//'S,"6/;$%,"&/&&/'%,"
?5?546/',"4/73$%,"&54&D($%,"?(-'5%"@'5(-%";$8"$5-%"
d3-"'/7/=;$-"
T++"
!++I"0$=('3$4/$-"
V(%D";%%/%%4/$-"$3-";=;(7;67/A":3%%(67>"?'(-(?;7"/H&3%5'/"-.'35)."@338"
?.;($"@3'"?3$%54/'%";$8"6('8%A"
d3-"?3$-;($/8"($"-./"2YPP:Q"8;-;6;%/a"
9;-/'"R4;HS"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""z"+A!"x)J7"
Q/8(4/$-%"R4;HS"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""z"*"x)JD)"
Y');$(%4%"R/;'-.<3'4%,"6('8%S""""""""""""""""""""""""""""""""""""""""""""!N!+"4)JD)"
QD($"(''(-;-($)";$8"%/$%(-(M($)"%56%-;$?/"R01"?7;%%(@(?;-(3$";$$/H"
tvJe`FSa"%5%&/?-/8"/$83?'($/"/@@/?-%"
_/'>"-3H(?"@3'"@(%./%"RdY02"L(%."Àe"x)J7Sa""-3H(?"-3"'/&'385?-(3$""3@"
6('8%"
"{"
2'(-(?;7"/@@/?-%"3$"3-./'"
3');$(%4%"
:'(3'(->"/H&3%5'/"3@"
?3$%54/'%"
:'(3'(->"/$=('3$4/$-;7"
W??5457;-(3$"&3%%(67/"6/?;5%/"3@"Z2L"\"*+++";$8"%73<"
/H&3%5'/"
6(38/)';8;-(3$"($"%3(7";$8"<;-/'J%/8(4/$-"%>%-/4%A"
"
0%%/$-(;7"V/@/'/$?/%"
"
!! YQ:WV"U3?54/$-n"KQ2"+*J`J`N0a"U';@-"YQ:WV"U3?54/$-"3$"U(?3@37,"*++*
vv"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
"
ANP*
B/?.$(?;7"@5$?-(3$"
01"4;'D/-"=3754/"
01"&'385?-(3$"=3754/"
d546/'"3@"&'385?/'%"
:3-/$-(;7"$546/'"3@"
($85%-'(;7"5%/'%"
d546/'"3@"&3-/$-(;7"/$8N
5%/'%"
d546/'"3@"&3-/$-(;7"<;%-/"
4;$;)($)"?34&;$(/%"
:'385?-(3$"8/=/73&4/$-"
P3%-"'/7/=;$-"5%/%"
#$"I"4;'D/-"=3754/"
"
|";&&'3H(4;-/7>"!I"BZB"($"
!v,+++"-J;"%-;6(7(%;-3'%";$8"
?;-;7>%-%"
`$7-"%#)"[0%,@%'"&2a*3$)4'#.1#)"*63E3:9*3$)@85".1#)"*
63D3:9*3$)(.(1%85F.1#)"2*
Z(3?(8/"RBZBS";$8"&/%-(?(8/"RB:BS"
BZBYn";&&'3H(4;-/7>"!Atv+"-J;"a"B:Bn";&&'3H(4;-/7>"!F+"-J;""""
{{"
E"R($?758($)"&'385?/'%"3@"65->7-($"%-;6(7(%/'%S""
P;$5@;?-5'/'%"3@"?./4(?;7"&'385?-%";$8"&7;%-(?"&'3?/%%($)"
?34&;$(/%"\"!+++"
3-./'"($85%-'(;7"&'3?/%%($)"\"!+,+++"
TFT"4(77(3$"
B'/;-4/$-";$8"8(%&3%;7"\"!+,+++"
V/?>?7($)"3@"5%/8":_2n"\"!+"
U(%&3%;7"3@".;M;'835%"($85%-'(;7"<;%-/%"R/A)A"378"&;($-"7;>/'%Sn"\"
!++"
U3<$<;'8%"
!" W$-(@357($)"&;($-%"R"tFIS"
!" :/%-(?(8/%"($"&3-;-3/";$8")';&/=($/"?57-(=;-(3$"R!+IS"
!" #4&5'(-(/%"($"8(65->7M($$N%-;6(7(%/'%"5$8"8(65->7M($$?;-;7>%-%"
R;&&'3H(4;-/7>"E"IS"
!" Y');$(?"%>$-./%(%"Rz"eIS"
!" 9338"&'/%/'=;-(=/%,"6(3?(8/%"($"-/H-(7/%"Rz"e"IS"
d3-"'/7/=;$-"
V/7/=;$-"'/7/;%/%"@'34"
&'3?/%%($)"b-J;c"
V/7/=;$-"'/7/;%/%"@'34"5%/"3@" `++"($"<;-/'"!S""""
@($;7"&'385?-%"b-J;c"
!S"'35)."/%-(4;-(3$n"!F+"-J;"&/%-(?(8/%";%"</77";%"BZB"73%%/%"@'34"-./"
*
"
"
"
"
"
"
"
"
"
"
"
&37>4/'"4;-'(H"3@"4;'($/"&;($-%"($"05'3&/;$"'(=/'%"R/;?."$/;'7>"!++"-"
d3'-.";$8"Z;7-(?"Q/;S""
"
L;-/";@-/'"/$8"3@"%/'=(?/"7(@/" 0$=('3$4/$-;7"'/7/;%/%""""""""""""""""""""*+"I"
($"I"3@"4;'D/-"=3754/"
U(%&3%;7""""""""""""""""""""""""""""""""""""""""""""F+"I"
R'35$8/8"=;75/%S"
2'(-(?;77>"/H&3%/8"3');$(%4%" W7);/,"?'5%-;?/;$%,"45%%/7%,"%$;(7%,"@(%./%,".54;$%"R(@"@338"'(?." "
($"@(%.S"
Q/;"<;-/'J@'/%."<;-/'"RBZBS""""""""""""""""""""""""""""""""""z"+,+!"x)J7""
"
B>&(?;7"/$=('3$4/$-;7"
?3$?/$-;-(3$%"RY');$3-($S"
P;'($/"%/;<;>%"RBZBS""""""""""""""""""""""""""""""""""""""""""+,+!"6(%"+,!"x)J7"
"
Q/8(4/$-%"($".;'635'%"RBZBS""""""""""""""""""""""""""""""""""\"!+"4)JD)"8<"
|""45%?7/,"P;'($/"%.(&&($)"<;>" L(%./%J45%%/7%"@'/%."<;-/'"RBZBS|""""""""+,`"6(%"+,E"4)JD)"<<"""
||"45%?7/,"f/'4;$"Z;7-(?";$8"
L(%./%J45%%/7%"@'/%."<;-/'"RB:BS|"""""""+,+!"6(%"+,!"4)JD)"<<""""""""
d3'-."Q/;"?3;%-"
P5%%/7%J@(%./%"4;'($/"RBZBS||""""""""""""""""+,+!"6(%"+,+*"4)JD)"<<"
P5%%/7%J@(%./%"4;'($/"RB:.BS||"""""""""""z"+,+!"6(%"+,+t"4)JD)"<<""
L(%./%,"6('8%,"%/;"4;44;7%"R7(=/'S""""""""\"!"4)JD)"<<"""""""""""""""""""""
2'(-(?;7"/@@/?-%"3$"4;44;7%" #445$3N-3H(?"/@@/?-"
"
"
2'(-(?;7"/@@/?-%"3$"3-./'"
0H-'/4/7>"-3H(?"@3'";77";C5;-(?"3');$(%4%,".($8';$?/"3@"
3');$(%4%"
'/&'385?-(3$"@3'"%$;(7%";$8"@(%./%A"
:'(3'(->"/H&3%5'/"3@"
9./$"$5-'(-(3$"(%"'(?."<(-."@(%.";$8"45%%/7%,"/%&/?(;77>"?34($)" "
?3$%54/'%"
@'34"%/;<;>%A"
vF"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
"
:'(3'(->"/$=('3$4/$-;7"
W7);/,"?'5%-;?/;$%,"45%%/7%,"%$;(7%,"L(%./%,"%/;"4;44;7%,"%/;"
/H&3%5'/"
6('8%"
"
0%%/$-(;7"'/@/'/$?/%n"
"
!! :'3-3D377"8/'"W$.l'5$)"8/%"14</7-65$8/%;4-/%"=34"!ÀTA*+++"
!! YQ:WV"++JeJ!!N0a"U';@-"YQ:WV"Z;?D)'35$8"U3?54/$-"3$"Y');$(?"B($"234&35$8%"""
!! 1ZW"B/H-/"+tJ+!n"Y');$(%?./"j($$=/'6($85$)/$,"W7D>7&./$37/"5$8"Z(%&./$37"W"($"4;'($/$"5$8"
7(4$(%?./$"Z(3-;,"*++!a"
!! WVf0"076/n"K/'D5$@-"5$8"_/'-/(75$)"=3$"Y');$3M($$=/'6($85$)/$"($"8/'"076/"5$8"(.'/$"
d/6/$@7h%%/$a"!EEEa""
!! V(%D";$8":37(?>"W$;7>%-%"RV:WSn"W%%/%%4/$-"3@"-./"'(%D"-3"./;7-.";$8"-./"0$=('3$4/$-"&3%/8"6>"
-./"5%/"3@"3');$3%-;$$(?"?34&35$8%"R/H?758($)"5%/"3@";"6(3?(8/"($";$-(@357($)"&($-%S";$8";"
8/%?'(&-(3$"3@"-./"/?3$34(?"&'3@(7/"3@"-./"($85%-'>a"P;>"*++*""
"
"
vE"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
"
AN;Q*
B/?.$(?;7"@5$?-(3$"
01"4;'D/-"=3754/"
01"&'385?-(3$"=3754/"
d546/'"3@"&'385?/'%"
:3-/$-(;7"$546/'"3@"
($85%-'(;7"5%/'%"
d546/'"3@"&3-/$-(;7"/$8N
5%/'%"
d546/'"3@"<;%-/"8(%&3%/'%"
:'385?-(3$"8/=/73&4/$-"
P3%-"'/7/=;$-"5%/%"
#$"I"4;'D/-"=3754/"!EEt"
V/7/=;$-"'/7/;%/%"@'34"
&'385?-(3$"b-J;c""
0-&,)',*
0$/')>"?3$%/'=;-3'"($"6;--/'(/%,"%5'@;?/"&'3-/?-(3$,".;'8/$($)"
?34&3$/$-"($";773>%a"&()4/$-,":_2"%-;6(7(%/'""
W&&'3H(4;-/7>"*,t++"-J;"
W&&'3H(4;-/7>"e,F++"-J;""
E"
T+"
W&&'3H(4;-/7>"TFT"P(77(3$"?3$%54/'%"
B'/;-4/$-";$8"8(%&3%;7"\"!+,+++"
23$%54&-(3$n""
!EF+n"!TA*++"-"R</%-/'$"<3'78S"
!EE`n"!t,e++"-""
!EEtn"!T,F`+"-""R01S"
Z;--/'(/%""""""""""""""""""""""""""""""""""""""""""veI""
:()4/$-%"""""""""""""""""""""""""""""""""""""""""!eI"
:_2"%-;6(7(M/'""""""""""""""""""""""""""""""""""eI"
Q5'@;?/"&'3-/?-(3$,";773>"""""""""""""""""""eI"
W('J<;-/'""""""""""""""""""""""""""""""""""""""""""""""!N!+"-"""~""
""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""b!v+"@'34"3-./'""&'385?-(3$"&7;$-%c|"
|"B./"/$=('3$4/$-;7"'/7/;%/%"
($?758/"5$<;$-/8"/4(%%(3$%"
@'34"&'385?-%";$8"&'385?-(3$"
&'3?/%%/%,"$3-"($-/$8/8"-3"
/H-';?-"3'"5%/"?;84(54A"
W('J<;-/'""""""""""""""""""""""""""""""""""""""""!N!+"-J;""""
V/7/=;$-"'/7/;%/%"@'34"
&'3?/%%($)"b-J;c"
V/7/=;$-"'/7/;%/%"@'34"5%/"3@" W('J<;-/'""""""""""""""""""""""""""""""""""""""""!+"m"e+"||""""
@($;7"&'385?-%"b-J;c"
N" B>'/%,"6'/;D%,"'3;8"?3=/'"
"
N" V33@($)"4;-/'(;7""
|"|"/H-';&37;-/8"@'34"
N" W'-(%-O%"&;($-%"
Q-3?D.374"6;7;$?/";$8"f/'4;$"
N" :_2"%-;6(7(M/'%,"&()4/$-%"
/4(%%(3$"($=/$-;'>"
N" W773>";$8"4/-;7"?3;-($)%"
|||"&3775-(3$"@'34"4($/';7"
@/'-(7(M/'"
"
b%3(7|||""""""""""""""""""""""""""""""""""""""""""""""*t+"-"c"
V/7/=;$-"'/7/;%/%"@'34"<;%-/" W('n""""""""""""""""""""""""""""""""""""""""""""""""""*"m"!v""
-'/;-4/$-"b-J;c"
9;-/'n""""""""""""""""""""""""""""""""""""""""""""""""""!+""
L;-/";@-/'"/$8"3@"%/'=(?/"7(@/" 0$=('3$4/$-;7"&3775-(3$n""""""""`""I"
($"I"3@"4;'D/-"=3754/"
"""""""""""""""""""N";('J<;-/'"n"""""""""""*""I"
R'35$8/8"=;75/%S|"
"""""""""""""""""""N"%3(7n|""""""""""""""""""*""I"
|"W%%54&-(3$"*eI"($?($/';-(3$" '/?3=/'>n"""""""""""""""""""""""""""""""**""I"
;$8"'/?3=/'>"3@"($?($/';-(3$"
8(%&3%;7"|n"""""""""""""""""""""""""""""vt""I"
%7;)"($"'3;8"?3$%-'5?-(3$A"
2'(-(?;77>"/H&3%/8"3');$(%4%" ^(=($)"3');$(%4%"R?'5%-;?/;$%S"($"7;D/%";$8"'(=/'%"
L'/%."<;-/'n"5&"-3"+,t*"x)J7"R%375-(3$S"""""""""""b4($5%"+,+e"x)J7"$;-5';7c"
B>&(?;7"/$=('3$4/$-;7"
?3$?/$-;-(3$%"
Q/8(4/$-n"5&"-3"!+"4)JD)""""""""""""b4($5%"+,!"-3"+,F"4)JD)"$;-5';7c"""
2'(-(?;7"/@@/?-%"3$"4;44;7%" 2;'?($3)/$(?"R85%-S";$8"-3H(?"@3'"D(8$/>%"
F+"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
AN;Q*
0-&,)',*
_/'>"-3H(?"-3";C5;-(?"3');$(%4%"RdY02"?'5%-;?/;$%"z"+,+F"x)J7S"
2'(-(?;7"/@@/?-%"3$"3-./'"
3');$(%4%"
2();'/--/"%43D/,"@338";$8"@($/"85%-"($"5'6;$"/H-/'(3'";('"
:'(3'(->"/H&3%5'/"3@"
?3$%54/'%"
WC5;-(?"3');$(%4%"
:'(3'(->"/$=('3$4/$-;7"
/H&3%5'/"
"
0%%/$-(;7"V/@/'/$?/%|"
"
!! 1ZW"B/H-/"eTJ++n"04(%%(3$%($=/$-;'"9;%%/'"@h'"8(/"Z5$8/%'/&567(D"f/'4;$>,"*+++"
!! U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"3$"2;84(54";$8"2;84(54"YH(8/a"V;&&3'-/5'"Z/7)(54a"*++*a*
!! U(%?5%%(3$":;&/'"3$"U';@-"B;')/-/8"V(%D"W%%/%%4/$-"V/&3'-"3$"2;84(54"1%/8"($"Z;--/'(/%a"
L/6'5;'"*++*A""
!! Z/')6g?D,"k3.;$$%3$";$8"P3.7;$8/'n"1'6;$"P/-;7"L73<%"m"W"2;%/"Q-58>"Y@"Q-3?D.374a"*++!*
"
|"U';@-"01"V(%D"W%%/%%4/$-"V/&3'-%"</'/"5%/8";%"($@3'4;-(3$"%35'?/AK3</=/',"45?."3@"-.(%"
($@3'4;-(3$""(%"%-(77"5$8/'"8(%?5%%(3$";43$)"-./"/H&/'-%"3@"-./"P/46/'"Q-;-/%A"
F!"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
ANA*Ò5$O)5L*%"*($)#)(-11.*5F@%25&*%$7-")2,2"
*
"$<:&)9#)*:-! >%$,:-!:*)'8:! ]':A#:!
"
>A)8#-!:#)8-!
;%8)$!G#)$!
)8K)#!
U0K:"
"
"
Z'34($;-/8"@7;4/"'/-;'8;$-%"
"
‚‚"
2.73'($;-/8"&;';@@($%"
‚‚"
‚‚"
d3$>7&./$37"
‚‚"
"
P5%D"?34&35$8%"
"
‚"
U(?.73';$(7($J8(5'3$"
‚‚"
‚‚"
B'(@75';7($"
‚"
‚"
U(?3@37"
"
"
BZB";$8"B:B"
‚‚"
‚‚"
2;84(54"
‚‚"
‚"
"
"
"
"
"
"
"
"
"
"
"
"
‚‚"•"$3$";??/&-;67/"'(%D,"6378"?3735'"($"-./"'(%D"&'3@(7/%"
""‚"•"&3-/$-(;7"'(%D,"7().-"?3735'"($"-./"'(%D"&'3@(7/%
"
‚"
"
"
‚‚"
"
‚‚"
‚"
"
‚‚"
"
"
‚"
‚‚"
‚"
"
"
"
"
"
‚‚"
"
"
"
V$#):&!+#=!
G)G6!
‚"
‚‚"
‚"
‚‚"
"
‚‚"
"
‚"
‚‚"
‚"
"
"
F*"
V'$=:!
‚‚"
‚‚"
‚‚"
‚"
‚‚"
"
"
"
"
"
"
"
H:#$!%+!=)'86!
8'+#!;$%=<9&:!
‚‚"
"
"
"
‚"
"
"
"
"
"
"
"
]%%=!
"%*:<,#$!
‚‚"
"
|"
‚"
"
"
"
‚"
‚‚"
"
"
"
"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
?@@5"&)F*E*J*H+%'$(52*%/*)"/%$,-#)%"*
*
WVf0"076/n"K/'D5$@-"5$8"_/'-/(75$)"=3$"Y');$3M($$=/'6($85$)/$"($"8/'"076/"5$8"(.'/$"
d/6/$@7h%%/$a"!EEEa""
ZZW"*++!n"K34/&;)/"8/'"Z(373)(%?./"Z5$8/%;$%-;7-"Z';5$%?.</()A"<<<A66;A8/"
20L#2a"L;?-"}"L()5'/%,"!EEF"
Z/')6g?D,"k3.;$$%3$";$8"P3.7;$8/'n"1'6;$"P/-;7"L73<%"m"W"2;%/"Q-58>"Y@"Q-3?D.374a"*++!"
Zl.4"/-";7n"0'4(--75$)"8/'"[5/77/$"@h'"8(/"&'(3'(-g'/$"Q-3@@/"$;?."W'-(D/7"!t"8/'"9;%%/'';.4/$'(?.-"
7($(/"5$8"W6%?.g-M5$)"(.'/'"0($-';)%4/$)/$"($"8(/"f/<g%%/'"($"U/5-%?.7;$8A"L3'%?.5$)%=3'.;6/$"8/%"
14</7-65$8/%;4-"R1ZWNB/H-/"tFJ+*S,"Q/&-/46/'"*++*A""
Uf"QWd2Yn".--&nJJ/5'3&;A/5A($-J?344J@338J@%J&.y&%J($8/Hy/$A.-4"
Uf"QWd2Y,"W$$5;7"01"9(8/":/%-(?(8/"V/%(85/"P3$(-3'($)"V/&3'-"*+++a"
.--&nJJ/5'3&;A/5A($-J?344J@338J@%J($%&/?-(3$%J@$;3(J'/&3'-%J;$$5;7y/5J43$'/&y*+++y/$A"
U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"RVWVS"3$"2;84(54";$8"2;84(54"YH(8/a"V;&&3'-/5'"Z/7)(54a"
*++*a*
U';@-"B;')/-/8"V(%D"W%%/%%4/$-"V/&3'-"3$"2;84(54"1%/8"($"Z;--/'(/%a"V;&&3'-/5'"Z/7)(54,"*++*A"*
U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"RVWVS"3$"U/?;6'348/&./$>7/-./',"V;&&3'-/5'"L';$?/"5$8"1$(-/8"
o($)834,"*++*a".--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%"
U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"RVWVS"3$"Y?-;6'348/&./$>7/-./',"V;&&3'-/5'"L';$?/"5$8"1$(-/8"
o($)834,"*++*a".--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%"
U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"RVWVS"3$"B/-';6'346(%&./$37"W"RBZZWS,"V;&&3'-/5'"1$(-/8"
o($)834,"*++*"
U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"RVWVS"3$"K/H;6'343?>?73838/?;$"RKZ2US,"V;&&3'-/5'""Q</8/$,"
*++*"
U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"RVWVS""3$"U(/-.>7./H>7&.-.;7;-"RU0K:S,"V;&&3'-/5'"Q?.</8/$,"
Q/&-/46/'"*++!a".--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%"
U';@-"Q544;'>"01"V(%D"W%%/%%4/$-"V/&3'-"RVWVS"3$"^3$)"2.;($/8"2.73'($;-/8":;';@@($%"RP22:S,"
V;&&3'-/5'"1$(-/8"o($)834,"d3=/46/'"*++!a"
U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"RVWVS"3$"P/8(54"2.;($/8"2.73'($;-/8":;';@@($%"RP22:S,"
V;&&3'-/5'"1$(-/8"o($)834,"L/6'5;'>"*++*a".--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%a"
01"V(%D"W%%/%%4/$-"V/&3'-"RVWVS"3$"Q.3'-"2.;($/8"2.73'($;-/8":;';@@($%"RQ22:S,"V;&&3'-/5'"
1$(-/8"o($)834,"*++!a".--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%""
U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"RVWVS""3$"d3$>7&./$37a"V;&&3'-/5'"1$(-/8"o($)834,"*++!a"
.--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%""
U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"RVWVS""3$"P5%D"‚>7/$/,"V;&&3'-/5'"B./"d/-./'7;$8%,""*++*"
U';@-"01"V(%D"W%%/%%4/$-"V/&3'-"RVWVS""3$"P5%D"o/-3$/,"V;&&3'-/5'"B./"d/-./'7;$8%,"*++*""
U';@-"01"V(%D"W%%/%%4/$-""V/&3'-"RVWVS""3$"T,`"U(?.73'3;$(7($/a"V;&&3'-/5'"f/'4;$>a"*++!a"
.--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%""
02"R!EEESn"05'3&/;$"2344(%%(3$a"Q-58>"3$"-./":'(3'(-(%;-(3$"3@"Q56%-;$?/%"U;$)/'35%"-3"-./"WC5;-(?"
0$=('3$4/$-""R2YPP:Q":'3?/85'/Sa"!EEEa"a".--&nJJ/5'3&;A/5A($-J?344J/$=('3$4/$-J<;-/'J<;-/'N
8;$)/'%56J"
05'3&/;$"2344(%%(3$n":567(?"W=;(7;6(7(->"3$"01"K().":'385?-(3$"_3754/"2./4(?;7%a"!EEEa"
.--&nJJ/?6A]'?A(-J/H(%-($)N?./4(;7%"
L';5$.3@/'N#$%-(-5-/"P37/?57;'"Z(373)>";$8"W&&7(/8"0?373)>"RLKfSn"#8/$-(@(?;-(3$"3@"C5;7(->"
%-;$8;'8%"@3'"&'(3'(->"%56%-;$?/%"($"-./"@(/78"3@"<;-/'"&37(?>a";$$/H"à""Q/&-/46/'"*++*"
f5/$-./',"oA"/-";7n"0$83?'($/"U(%'5&-($)"d3$>7&./$37%";'/"16(C5(-35%"($"L338a"0$=('3$AQ?(AB/?.$37A,"
FT"
2./4(?;7%"35-"3@"23$-'37""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""pD3&37,"K;465')"
Q-58>"?344(%%(3$/8"6>"f'//$&/;?/"/A_A,"f/'4;$>"
"
TtRFS,"!tvtN!tF+,*++*a"
#12^#U"*++*n""01"0H(%-($)"Q56%-;$?/"U;-;"Z;%/a".--&nJJ/?6A]'?A(-J/H(%-($)N?./4(?;7%"
YQ:WV"U3D54/$-n"KQ2"+*J`J`N0a"U';@-"YQ:WV"U3?54/$-"3$"U(?3@37,"*++*a"<<<A3%&;'A3')"
YQ:WV"U3D54/$-"+!J+`J!TN0n"Q-';-/)(/%"@3'"4;D($)"-./"01"P;'D/-"@3'".;$M;'835%"%56%-;$?/%"43'/"
-';$%&;'/$-a".--&nJJ<<<A3%&;'A3')"
YQ:WV"++JeJ!!N0a"U';@-"YQ:WV"Z;?D)'35$8"U3?54/$-"3$"Y');$(?"B($"234&35$8%"""
YQ:WV"L;?-%.//-"3$"B'(@75';7($a".--&nJJ<<<A3%&;'A3')"
YQ:WV"U#LL"EEJTJ!*N0n"U';@-"Z;?D)'35$8"U3?54/$-"?3$?/'$($)"07;63';-(3$"3@":'3)';4%";$8"
P/;%5'/%"3$"P5%D"‚>7/$/";$8"3-./'"P5%D%,"&'/%/$-/8"6>"Q<(-M/'7;$8,"!EEEa".--&nJJ<<<A3%&;'A3')"
YQ:WV"Q:Q"++JeJ!N0n"U';@-"YQ:WV"Z;?D)'35$8"U3?54/$-"3$"-./"f'35&($)"3@"Q56%-;$?/%"@3'"
W%%/%%4/$-":5'&3%/%,"Z;%/8"3$"0H;4&7/"3@"Q.3'-,"P/8(54";$8"^3$)"2.;($/8"2.73'($;-/8"
:;';@@($%,*+++a".--&nJJ<<<A3%&;'A3')"
YQ:WV"++JeJ!!N0a"U';@-"YQ:WV"Z;?D)'35$8"U3?54/$-"3$"Y');$(?"B($"234&35$8%a"
.--&nJJ<<<A3%&;'A3')"
YQ:WV"U3?54/$-a"KQ2"+!JeJ*N0"RU';@-"YQ:WV"Z;?D)'35$8"U3?54/$-"3$"d3$>7&./$37";$8"
d3$>7&./$37/-.3H(7;-/%Sa"*++!a"".--&nJJ<<<A3%&;'A3')"
YQ:WV"L;?-"Q.//-%"3$"Q56%-;$?/%"3@"&3%%(67/"?3$?/'$n".--&nJJ<<<A3%&;'A3')"
V(%D";$8":37(?>"W$;7>%-%"RV:WSn"W%%/%%4/$-"3@"-./"'(%D"-3"./;7-.";$8"-./"0$=('3$4/$-"&3%/8"6>"-./"
5%/"3@"3');$3%-;$$(?"?34&35$8%"R/H?758($)"5%/"3@";"6(3?(8/"($";$-(@357($)"&($-%S";$8";"8/%?'(&-(3$"3@"
-./"/?3$34(?"&'3@(7/"3@"-./"($85%-'>a"P;>"*++*""
1ZW"B/H-/"eTJ++n"04(%%(3$%($=/$-;'"9;%%/'"@h'"8(/"Z5$8/%'/&567(D"f/'4;$>,"*+++"
1ZW"*++!n":'3-3D377"8/'"W$.l'5$)"8/%"14</7-65$8/%;4-/%"=34"!ÀTA*+++"
1ZW"B/H-/"*eJ+!"6(%"*vJ+!n"0';'6/(-5$)"=3$"Z/</'-5$)%)'5$87;)/$"M5'"Q56%-(-5-(3$"
54</7-'/7/=;$-/'"L7;44%?.5-M4(--/7"RZ;$8"!NTSa"*+++a""
1ZW"B/H-/"+tJ+!n"Y');$(%?./"j($$=/'6($85$)/$,"W7D>7&./$37/"5$8"Z(%&./$37"W"($"4;'($/$"5$8"
7(4$(%?./$"Z(3-;,"*++!a"
___"o344(%%(3$n"o344(%%(3$"8/'"d(/8/'%g?.%(%?./$"^;$8/%'/)(/'5$)"M5'"_/'4/(85$),"
_/'4($8/'5$)"5$8"_/'</'-5$)"=3$"W6@g77/$a"Z/'(?.-"8/%"W'6/(-%D'/(%/%"!Ta"*+++a"
Q-;-(%-(%?./%"Z5$8/%;4-a"L;?.%/'(/"!E,"V/(./"`"14</7-lD3$34(%?./"f/%;4-'/?.$5$)/$"!EE*"
14</7-65$8/%;4-a"U;-/$"M5'"14</7-"!EE*"
B/4;d3'8"*+++nee+n"L;-/";$8"0@@/?-%"3@"2./4(?;7%"($"-./"d3'8(?"0$=('3$4/$-%"V/7;-/8"-3"-./"1%/"3@"
Z(3?(8/%,"*+++"
"
F`"
Anhand von zehn Fallbeispielen zeigt die vorliegende
Studie, dass in Europa häufig gefährliche Stoffe bei der
Herstellung von Konsumprodukten verwendet werden.
Sie finden über Haut, Atemwege und die Nahrung ihren
Weg in unsere Körper. Die Fallbeispiele verdeutlichen,
wie nötig ein neues und starkes EU-Chemikalienrecht ist,
um die Risiken gefährlicher Stoffe rechtzeitig und effektiv
bekämpfen zu können. Dazu gehört auch, dass Produzenten
und Importeure von Chemikalien verpflichtet werden,
ihre Produkte zu registrieren und genügend Daten für
eine vernünftige Risikobewertung aller sich auf dem
S 1281
Markt befindlichen und produzierten Stoffe zu liefern.
Greenpeace e.V. 22745 Hamburg
Tel. 040/306 18-0; Fax. 040/30618-100
Email: mail @ greenpeace.de Politische Vertretung Berlin, Chausseestr. 131, 10115 Berlin
Tel. 030 / 30 88 99 - 0, Fax 030/30 88 99-30
Internet: www. greenpeace.de

Chemie außer Kontrolle Chemicals out of control

Transcription

Similar documents

Die BUCHSTAVIER - Das Dosierte Leben

All Possible Four-Letter Words (Except One) in Two