Hip #`s 591-691 - Heritage Place

Transcription

Hip #`s 591-691 - Heritage Place
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU5HOLDQFH5DQFKHV//&
9LFWRUV&URZQ
+LS1R
$SULO%D\&ROW
&DUWHUV&DUW HO6,
9LFW RUV&URZQ
9LNHV'DVKLQJ6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
-XPSLQJ7DF)ODVK6,
{ 7ROOWDF6,
%HDW<RXU3DQWV2II6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
5XQD ZD\9LNH6,
D ZD\:LQQ HU6,
{ 5XQ
0LVV5DF\9LNH6,
%\&$57(56&$57(/6,&KDPSLRQ\HDUROGFROW
>*@175 6LUH RI VWDNHV ZLQQHUV LQFOXGLQJ &$57(56
&22.,(6,5DLQERZ)XW>*@620(7+,1/,.(7+,66,
(DVWH[6>*@&$57(56/$67675$:6,66
3$<',576,>*@&$57(/6)25781(6,
&$57(/526,(6,0U3HUU\&DUWHO6,>*@
VWGDP
9,.(6'$6+,1*6,E\)LUVW'RZQ'DVKZLQVWR ILQDOLVWLQWKH
+REEV$PHULFD'HUE\ >*@6LVWHUWR 92/&206, 'DVKLQJ9LNH6,
-D &DOO&ROOHFW6, +L7RUL6,'DPRIIRDOVRIUDFLQJDJHWZR
\HDUROGVDOOVWDUWHG520LQFOXGLQJ±
-DFN0DQQ6,JE\9DOLDQW+HUR3ODFHGDW
QGGDP
581$:$<9,.(6,E\5XQDZD\:LQQHUZLQVDW'DPRI
IRDOVWRUDFH520LQFOXGLQJ±
92/&206,FE\)LUVW'RZQ'DVKZLQVWR/RV$ODPLWRV
:LQWHU&KDPS >*@(O3ULPHUR'HO$QR'HUE\ >*@/RV$ODPLWRV3UHS
6 QG/RV$ODPLWRV6XSHU'HUE\ >*@UG*RYHUQRU¶V&XS)XWXULW\>5@
>*@ ILQDOLVW&KDPSLRQRI&KDPSLRQV >*@*ROGHQ6WDWH'HUE\ >*@6LUH
'DVKLQJ9LNH6,FE\)LUVW'RZQ'DVK:LQQHUWRQG
5XLGRVR'HUE\ >*@
-$&DOO&ROOHFW6,FE\)LUVW'RZQ'DVKZLQVWRUG&DQ
$P1DWLRQV&XS6 ILQDOLVWLQWKH6DP+RXVWRQ'HUE\&KDOOHQJH >*@
+L7RUL6,FE\)LUVW'RZQ'DVK:LQQHUWRQG&DOLIRUQLD
%UHHGHUV)UHVKPDQ6>5@ ILQDOLVWLQWKH.LQGHUJDUWHQ)XWXULW\ >*@6LUH
'DVKLQ9LNH6,IE\'DVKLQ%\H:LQQHULQVWDUWV TXDOLILHG >*@'DPRI±
581$:$<:$*216,ZLQVWR6DP+RXVWRQ&ODVVLF
+ >*@)LUHFUDFNHU'HUE\UG6DP+RXVWRQ&KDOOHQJH&KDPS >*@
/LNH$=HSK\U6,JE\)LUVW'RZQ'DVKZLQVWR TXDOLILHGWR
*ROGHQ6WDWH'HUE\ >*@
UGGDP
0,665$&<9,.(6,E\5DFLQ)UHHZLQVWR5HPLQJWRQ
&KDPS >*@/DV'DPDV+ >*@7H[DV)XW >*@%DQGHUD'HUE\ >*@
0RRUH6QG9HVVHOV0DW >*@5HPLQJWRQ&KDPS >*@(DVWH[+ >*@
HWF6LVWHUWR 5$&,19,.(6, >*@ 5$&,1'($/6,
>*@'DPRI520LQFOXGLQJ±
0,665$&<-(666,0U-HVV3HUU\ &KDPSLRQ<HDU2OG)LOO\ZLQV
LQVWDUWV/RV$ODPLWRV6XSHU'HUE\ >*@
0,665$&<(<(6 6,0U(\H2SHQHUZLQVWR6SHHGKRUVH
)XW>5@ >*@HWF IQO >*@'DPRI 5$&</$-2//$6,175 6WHSHQRV
6,%LJ'DGG\&DUWHO6, IQO >*@5DF\&DVDQRYD
6,TXDO >*@JUDQGGDPRI )(7&+,1*%($87<6, >*@
:223'(('226,DW %ROW/LJKWO\6,
9LNHV,RWD6,ZLQVWRQG+HULWDJH3ODFH)XW >*@
7KH%OXHWDLOIO\6,ZLQVWRQG:RRGODQGV&KDPS6
6L[DYLNH6,6L[DUXQZLQVQG(DVW&KDPS&KOJ >*@
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
/RV$ODPLWRV7ZR0LOOLRQ)XW*ROGHQ6WDWH0LOOLRQ)XW
$FFUHGLWHG2NODKRPD%UHG
5*3
+LS1R
&RQVLJQHGE\6RXWKZHVW6WDOOLRQ6WDWLRQ$JHQWIRU7\OHU*UDKDP
5HEDV/LO)HDWXUH
+LS1R
)HEUXDU\*UD\)LOO\
)O\LQJZLWKHDJOHV6,
5HEDV/LO)HDW XUH
5R\DO5HED%
{
)HDW XUH0U-HVV6,
{ 0U-HVV3HUU\6,
%UHQGD)HDW XUH6,
'DVKL QJ3KRHEH6,
{ 'DVK)RU&DVK6,
3KRHEH¶V0RRQ%XJ6,
{
5R\DO4XLFN'DVK6,
{ )LUVW'RZQ'DVK6,
+DUHPV&KRLFH6,
/LWW OH5HEDV6WROL
{ 6WROL6,
5HP DUND EOH5HED6,
%\)/<,1*:,7+($*/(66,:LQQHU%URWKHUWR+($576:,'(
23(16,FKDPSLRQKDOIEURWKHUWR63(&,$/3+2(%(6,FKDP
SLRQ62/,''(0$1'6,)85<2)7+(:,1'6,+LVILUVWIRDOVDUH
\HDUOLQJVRI6RQRIVWDNHVZLQQHU)($785(05-(666,VLUHRI
VWDNHV ZLQQHUV FKDPSLRQV LQFOXGLQJ +($576:,'(23(1 6, >*@-(66<28$1',6,>*@)($785(05%2-$1*/(66,>*@
VWGDP
52<$/5(%$%E\5R\DO4XLFN'DVK8QUDFHG'DPRIIRDORIUDFLQJDJH
DQXQVWDUWHG\HDUROG
QGGDP
/,77/(5(%$6672/,E\6WROL8QSODFHG'DPRIIRDOVWRUDFHLQFOXGLQJ±
5'')LUVWSUL]H6WROL6,JE\)LUVW3UL]H3HUU\ZLQVDW
UGGDP
5(0$5.$%/(5(%$6,E\=HYL7%ZLQVWR/D]\(1DW¶O
4+-RFNH\&KDPSQG+HULWDJH3ODFH'HUE\>5@ >*@UG.DQVDV
-DFNSRW )XWXULW\ >5@ >*@ %RRPHU 6RRQHU 3UHS )XWXULW\ +DOI VLVWHU WR
%UHQGDV&XSD7H6,'DPRIIRDOV520LQFOXGLQJ±
'$6+,1*/,77/(5(%$6,)LUVW'RZQ'DVKZLQVWR
5DLQERZ-XYHQLOH>5@ >*@UG:HVW7H[DV'HUE\ >*@ ILQDOLVW >*@'DPRI±
5(%$5(%$&2521$6,ZLQVWR(YDQJHOLQH'RZQV
)XWXULW\QG*LOOHVSLH&RXQW\)DLU)XWXULW\ >*@
,$=220('<28.1(:6,ZLQVWR:HVW7H[DV'HUE\
>*@ ILQDOLVWLQWKH$OO$PHULFDQ*ROG&XS+ >*@
5(%$6&2521$6,ZLQVLQVWDUWVWRLQ860H[LFR
+LSRGURPR 'HUE\ &KDOOHQJH 'HUE\ 0H[LFDQR175 QG &ODVLFR
$0&&&0>5@ ILQDOLVWLQWKH$4+$'HUE\&KDOOHQJH&KDPS >*@
$5(0$5.$%/(3(55<6,ZLQVWR86$LQ0H[
LFR&ODVLFR-RG\V*ORU\
/RDG<RXU*XQV 6,ZLQVWRQG0U-HW0RRUH6>5@ >*@
=RRPGDVKHU6,ZLQVWRUG*ROGHQ6WDWH'HUE\ >*@
/D3ULPHUD'HO$QR'HUE\ >*@7XUI3DUDGLVH&KDPS&KDOOHQJH IL
QDOLVWLQWKH/RV$ODPLWRV6XSHU'HUE\ >*@
=RRPLQ)RRO6,:LQQHUWRQG3&4+5$%UHHGHUV)XWX
ULW\ >*@ ILQDOLVWLQWKH*ROGHQ6WDWH'HUE\ >*@
7DLQW <RXU :DJRQ 6, 3ODFHG WR 86$ LQ 0H[LFR QG
+LSRGURPR-XYHQLOH&KDOOHQJHUG)XWXULW\0H[LFDQR
/LWWOH5HEDV&RURQD6,:LQQHUWR ILQDOLVW >*@
$55,%$5(%$6,6HSDUDWLVWZLQVWR:HVW7H[DV-XYH
QLOH,QY>5@QG1HZ0H[LFR'LVWDII&KDOOHQJH >*@ ILQDOLVWLQWKH5XLGRVR
)XWXULW\ >*@:HVW7H[DV'HUE\ >*@'DPRI±
62/,'$1,7$-26,:LQQHUWR5DLQERZ-XYHQLOH,QY6
QG/RQH6WDU'LVWDII&KDOOHQJHUG5XLGRVR-XYHQLOH,QY
%DG%R\:LOO\6,&KLFNV%HGXLQRZLQVWRQG0DVWHU
6DOOV6UG5XLGRVR'HUE\ >*@:HVW7H[DV0DWXULW\ >*@ ILQDOLVW >*@
5HEDV)HDWXUH6,)HDWXUH0U-HVV8QSODFHG'DPRI %2,*(25*(6,
WR >*@
(1*$*(0(176$4+$&KDOOHQJH
$FFUHGLWHG7H[DV%UHGHPEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\'UHDPV&RPH7UXH5DQFK$JHQWIRU 0HORQLH-RKQVRQ
%URGJDU
+LS1R
0DUFK*UD\&ROW
)O\LQJZLWKHDJOHV6,
%URGJDU
+DUQH\*LUO6,
{
)HDW XUH0U-HVV6,
{ 0U-HVV3HUU\6,
%UHQGD)HDW XUH6,
'DVKL QJ3KRHEH6,
{ 'DVK)RU&DVK6,
3KRHEH¶V0RRQ%XJ6,
{
6HSD U DWLVW6,
%HGXLQR6,
{ &KLFNV
6HSHUDWH:D\V6,
7ZHOIWK6HF UHW6,
F UHW6,
{ 5DLVH$6H
(DVLO\$7ZHOYH6,
%\ )/<,1*:,7+($*/(66,:LQQHU%URWKHUWR +($576:,'(
23(16,FKDPSLRQKDOIEURWKHUWR63(&,$/3+2(%(6,FKDP
SLRQ62/,''(0$1'6, )85<2)7+(:,1'6,+LVILUVWIRDOVDUH
\HDUOLQJVRI6RQRIVWDNHVZLQQHU)($785(05-(666,VLUHRI
VWDNHV ZLQQHUV FKDPSLRQV LQFOXGLQJ +($576:,'(23(1 6, >*@-(66<28$1',6,>*@)($785(05 %2-$1*/(66,>*@
VWGDP
+$51(<*,5/6,E\6HSDUDWLVW:LQQHUWR6LVWHUWR 0$7(5,
$/,676,'DPRIIRDOVRIUDFLQJDJHDOO520±
'HYRQ7ZHOYH6,JE\'HYRQ/DQH7%ZLQVWR
)DUPLQJWRQ*LUO6,IE\ 7DF,W/LNH$0DQ:LQQHUWR
7LF 7DF$WWDFN6,IE\ 7DF,W/LNH$0DQ3ODFHGLQVWDUWVDW
QGGDP
7ZHOIWK6HFUHW6,E\5DLVH$6HFUHWZLQVDWQG(G%XUNH
0HPRULDO)XWXULW\ >*@ ILQDOLVW 4+%&-XYHQLOH >*@6LVWHUWR 7:(/9,(6,
($6,/<$6(&5(76,'DPRIIRDOVWRUDFH520LQFO±
0$7(5,$/,67 6,JE\6HSDUDWLVWZLQVWR)LUVW'RZQ'DVK
+ >*@ 9DQG\¶V)ODVK+ >*@6JW3HSSHU)HDWXUH6 >*@ IQO>5@ >*@
7:(/9(67(33(56,JE\:DON7KUX)LUHZLQVWR&DOL
IRUQLD%UHHGHUV¶&KDPS>5@ >*@QG,QGHSHQGHQFH'D\6 6ZHHWZDWHU
'RZQV'HUE\ ILQDOLVWLQWKH*R0DQ*R+ >*@
7KULIW\ 6, F E\ 6WHO &RURQD ZLQV WR UG &DOLIRUQLD
%UHHGHUV6SULQW6>5@
+DUQH\6,JE\ 3ULW]L'DVKZLQVWR ILQDOLVW >*@
0LVV)DUQVZRUWKIE\ 3ULW]L'DVK8QSODFHGLQVWDUWV'DPRI±
+DUQH\%UR 6,ZLQVWRQG'RXEOH')XWXULW\ ILQDOLVW >*@
/DG\)DUQVZRUWK6,ZLQVWR
-DLO7LPHIE\'DVK7KUX7UDIILF8QUDFHG'DPRI±
&+(&.&$7+<6,ZLQVWR6DP+RXVWRQ)XWXULW\ >*@
UGGDP
($6,/<$7:(/9(6,E\(DV\'R]HQZLQVDWDQG:HVW
7H[DV)XWXULW\ >*@QG.DQVDV)XWXULW\ >*@.DQVDV'HUE\ >*@ ILQDOLVW
LQ WKH $OO $PHULFDQ )XWXULW\ >*@ 5DLQERZ 'HUE\ >*@ +DOI VLVWHU WR $
&ODVV\&KLFN6,GDPRI &+,&.6 %('8,126, >*@
'DPRIIRDOVWRUDFH520LQFOXGLQJ±
7:(/9,(6,5DLVH$6HFUHWZLQVWR 3&4+5$%UHHGHUV¶
)XWXULW\ >*@QG*ROGHQ6WDWH)XWXULW\ >*@*RYHUQRU¶V&XS'HUE\>5@
>*@&DOLIRUQLD6LUHV¶&XS)XWXULW\>5@ >*@UG9HVVHOV0DWXULW\ >*@
($6,/<$6(&5(76,5DLVH$6HFUHWZLQVWR([SUHVV
6QG(O 3ULPHUR'HO $QR'HUE\ >*@*RYHUQRU¶V&XS)XWXULW\>5@ >*@
&DOLIRUQLD6LUHV¶&XS'HUE\>5@ >*@3RPRQD&KDPS+ >*@6DQ0DWHR
6UG.LQGHUJDUWHQ)XWXULW\ >*@7RZQ3ROLF\+ >*@
$ODPLWRV6FRUH6,)LUVW'RZQ'DVKZLQVWRQG .DZHDK
%DU+ >*@+HUPRVD%HDFK6 ILQDOLVWLQWKH*ROGHQ6WDWH)XWXULW\ >*@
7ZHOIWK6HFUHW6,5DLVH$6HFUHW6WDNHVSODFHGZLQQHUDERYH
7DNH2GGV6,5DLVH$6HFUHWZLQVWR ILQDOLVWLQWKH/RV
$ODPLWRV0LOOLRQ)XWXULW\ >*@(O 3ULPHUR'HO $QR'HUE\ >*@
(1*$*(0(176$4+$&KDOOHQJH
5*3
$FFUHGLWHG2NODKRPD%UHG
+LS1R
&RQVLJQHGE\ 5RELFKHDX[5DQFK,QF$JHQW
2QH6ZHHW 0HUORW
+LS1R
)HEUXDU\6RUUHO&ROW
2QH6ZHHW-HVV6,
2QH6ZHHW 0HUO RW
2QHPRUHJODVVRIZLQH6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
2QH6ZHHW'DVK6,
{ )LUVW'RZQ'DVK6,
6ZHHW %HGXLQR6,
{
+H]D)DVW'DVK6,
{ +H]D)DVW0DQ6,
)LUVW3UL]H'DVK6,
)LQH:LQHV6,
{ )LUVW'RZQ'DVK6,
'DVKLQ6DQG\6,
%\21(6:((7-(666,6WDNHVZLQQHURIUDFHV>*@
+DOIEURWKHUWR21('$6+,1*($*/(6,ZRUOGFKDPSLRQ+LVILUVW
IRDOVDUH\HDUROGVRI6LUHRI520LQFOXGLQJ2QH6ZHHW0DULH
IQO2NODKRPD%UHG)XW>5*@2QH6ZHHW5XQDZD\6,ZLQ
QHU IQO>5*@-HVV %XUQLQ6,ZLQQHU IQO5XLGRVR
)XW >*@)RU6ZHHW-HVV6,ZLQQHU UG3RW 2¶*ROG )XW
VWGDP
21(025(*/$662):,1(6,E\ +H]D)DVW'DVKZLQVWR
3&4+5$%UHHGHUV¶'HUE\ >*@(ODQ$JDLQ6UG*ROGHQ6WDWH-XYHQLOH
ILQDOLVWLQWKH0LOGUHG19HVVHOV0HPRULDO+ >*@&KDUJHU%DU+ >*@
WZLFH/DV 'DPDV+ >*@'DPRIIRDORIUDFLQJDJH±
%R[ZLQHL]ILQH6,IE\6HSDUDWLVW3ODFHGWZLFHLQVWDUWVDW
QGGDP
),1(:,1(66,E\)LUVW'RZQ'DVKZLQVDW ILQDOLVWLQWKH/D
3ULPHUD'HO $QR'HUE\ >*@ -HQV/LVW&DOLIRUQLD%UHHGHUV6>5@ >*@'DP
RIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
21(025(*/$662):,1(6,+H]D)DVW'DVK6WDNHVZLQQHUDERYH
0U 3HUU\V:LQH6,IE\0U-HVV3HUU\ZLQVWRQG$OO
$PHULFDQ -XYHQLOH ,QY >5@ ILQDOLVW LQ WKH 5DLQERZ )XWXULW\ >*@ :HVW
7H[DV)XWXULW\ >*@ +REEV$PHULFD)XWXULW\ >*@
UGGDP
'$6+,16$1'<6,E\6WUHDNLQ'DVKZLQVWR'LDPRQG
&ODVVLF)XWXULW\>5@ >*@175\LQ ILQDOLVWLQWKH*ROGHQ6WDWH
)XWXULW\ >*@+DOIVLVWHUWR 6,5 =(9,675$866,>5@>*@
+LJKV$QG/RZV6, >*@2XWRI 6<1&+52&(376,
175'DPRIIRDOVWRUDFH520LQFOXGLQJ±
&+$03$*1(/$1(6,IE\/DQHV /HLQVWHUZLQVLQVWDUWVWR
'LDPRQG&ODVVLF)XWXULW\>5@ >*@/D 3ULPHUD'HO $QR'HUE\
>*@7RZQ3ROLF\+ >*@HWF'DPRI $/,&(.:+,7(6,&KDPSLRQ
<HDU2OG)LOO\*ROGHQ6WDWH'HUE\ >*@ .(1'$//-$&.
6216, >*@1:5 =8&&$5',6,ZLQVLQVWDUWV
>5@>*@ :,/0216, -(6621( /22.(6,
&RQQ&UHHN6,>5@ >*@ 0DULO\Q 0HUORW6,JUDQGGDPRI
:,11,1* 0(5/276,WR>5@>*@ $67,&$6,
WR175 0DULO\Q:LQV6,DW>5@
>*@ 7XVFDQ 5HGG6,WR>5@ >*@
-HVV6DQG\-U6,FE\-HVVH-DPHV-UZLQVWRQG
$QLPDV6UG1HZ0H[LFR%UHHGHUV6>5@ >*@
6DQG\V)DPH 6,IE\'DVK7D)DPHZLQVDWQG'LDPRQG
&ODVVLF)XWXULW\>5@ >*@'DPRI 6$1'<6-(66(6, >5@
>*@ /DJDULD 6, %ULGJHWWH %RUGHDX[ 6, >5@>*@ JUDQGGDP RI -81,25 -81( %8* 6, >*@
6$00<-$0(66,ZLQVLQ VWDUWVDW -(66%25
'($8; 6, ZLQV LQ VWDUWV WR >5@>*@ +('*(
)81'6,ZLQVLQVWDUWV %UDQFRWW6,>5@>*@
)DPRXV6DQG\6,IE\'DVK7D)DPH:LQQHUDWUG8WDK
&ODVVLF)XWXULW\>5@ >*@'DPRI )DPRXV6LJQDWXUH6,
(1*$*(0(176$OO$PHULFDQ5DLQERZ5XLGRVR)XW
(PEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\9LVWD(TXLQH&RORUDGRIRU%UDGEXU\%UDGEXU\ %HDXSUH]
2QH:LQ$W$7LPH
+LS1R
0DUFK%D\)LOO\
3<&3DLQW<RXU:DJRQ6,
2QH:LQ$W$7LPH
2QH)DP RXV5DF\/DG\6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
'DVKLQ)ROOLHV
F LDO6,
{ 6WUDZIO\6SH
'DVKLQJ)ROO\6,
{
2QH)DP RXV(DJ OH6,
{ 0U-HVV3HUU\6,
2QH)DP RXV/DG\6,
%XFNV KRW'HOLJKW6,
{ )LUVW'RZQ'DVK6,
)RUW XQH2I'HOLJKW6,
%\ 3<&3$,17<285:$*216,6WDNHVZLQQHURI>*@
6LUHRI520VWDNHVZLQQHUVLQFO,0$)$1&< 3<&6,
ZLQV2NOD%UHG)XW>5*@:$*217$/(66,ZLQV
)5(,*+775$,1 % 6, %ODFN *ROG )XW >*@
-2.(521-$&.6,2.+RUVHPDQ¶V0\VWHU\)XW>5*@
QWU &58=,17+(:$*216,9DOOH\-XQFWLRQ)XW>*@
VWGDP
21( )$0286 5$&< /$'< 6, E\ 2QH )DPRXV (DJOH :LQQHU WR 7KLVLVKHUILUVWIRDO
QGGDP
%8&.6+27'(/,*+76,E\)LUVW'RZQ'DVKZLQVDW/D
0DULSRVD+ >*@ UG 5DLQERZ)XWXULW\ >*@ ILQDOLVWLQWKH /XEERFN 6
>*@6LVWHUWR $'(/,*+7)8//(*$&<6,'DPRIIRDOVWRUDFH
ZLQQHUVLQFOXGLQJ±
$OV %LJ +LW 6, J E\ 6HSDUDWLVW ZLQV WR ILQDOLVW LQ WKH
5HPLQJWRQ&KDPS&KDOOHQJH >*@
7HOOHU6KH&DQ6,IE\7HOOHU&DUWHOZLQVWR
UGGDP
)25781(2)'(/,*+76,E\6L[)RUWXQHV %URRGPDUHRIWKH<HDULQ
ZLQVWR(O 7HVRURGH 2UR'HUE\QG5DLQERZ6LOYHU
&XS >*@HWF+DOIVLVWHUWR 75(6 6(,66,&KDPSLRQ >*@
'($10,5$&/(6,&KDPSLRQ'DPRIIRDOVWRUDFH520LQFO±
$ '(/,*+7)8/ '$6+(5 6, &KDPSLRQ <HDU2OG &KDPSLRQ
<HDU2OG*HOGLQJZLQVLQVWDUWVWR$OO$PHULFDQ)X
WXULW\ >*@*ROGHQ6WDWH)XWXULW\ >*@5DLQERZ)XWXULW\ >*@
+(6 0< '$6+(5 6, &KDPSLRQ <HDU2OG *HOGLQJ ZLQV
5DLQERZ)XW >*@QG&KDPSLRQRI&KDPSLRQV >*@
$'(/,*+7)8//(*$&<6,)LUVW'RZQ'DVKZLQVLQVWDUWVDW
$OO$PHULFDQ-XYHQLOH,QYLWDWLRQDO>5@ >*@ ILQDOLVWLQWKH/RV
$ODPLWRV0LOOLRQ)XWXULW\ >*@'DPRI±
,16(3(5$%/( 6, &KDPSLRQ<HDU2OG &KDPSLRQ<HDU2OG&ROW
ZLQVWR$OO$PHULFDQ'HUE\ >*@5DLQERZ'HUE\ >*@
UG5DLQERZ)XW >*@ ILQDOLVW*ROGHQ6WDWH0LOOLRQ)XW >*@6LUH
6(3(5$7(,17(5(676,ZLQVWR .DZHDK%DU+
>*@=:D\QH*ULIILQ67RZQ3ROLF\6QG*ROGHQ6WDWH0LOOLRQ)XW
>*@&KULVWPDV6 .DWHOOD6 ILQDOLVW/RV$ODPLWRV0LOOLRQ)XW >*@
7(//2)7+(3$676,:LQQHUWR/RV$ODPLWRV-XYHQLOH
&KDOOHQJHUG(O 3ULPHUR'HO $QR'HUE\ >*@
-HVV%HIRUH'DZQ6,ZLQVWRUG/RV$ODPLWRV6XSHU
'HUE\ >*@/RV$ODPLWRV7ZR0LOOLRQ -XY ILQDOLVW5DLQERZ'HUE\ >*@
7HOOHU1R/LHV6,:LQQHUWRQG7RZQ3ROLF\6 ILQDOLVWLQ
WKH$OO$PHULFDQ'HUE\ >*@(O 3ULPHUR'HO $QR'HUE\ >*@
%8&.6+27'(/,*+76,)LUVW'RZQ'DVK6WDNHVZLQQHUDERYH
,1'(('$'(/,*+76,ZLQVWR5DLQERZ-XYHQLOH,QY6
$ )RUWXQDWH &KRLFH 6, $ 5HJDO &KRLFH ZLQV WR QG
6XQODQG3DUN:LQWHU)XWXULW\ >*@
)RUWXQH3HQGLQJ6,:DYH&DUYHU:LQQHUWRQG$MD[
-XYHQLOH&KDOOHQJH
(PEU\RWUDQVIHU
5*3
+LS1R
+LS1R
&RQVLJQHGE\-(+6WDOOLRQ6WDWLRQ$JHQW
)LUVW6HLV7UHV
)HEUXDU\6RUUHO)LOO\
7UHV6HLV6,
)LUVW6HLV7UHV
'RFV)LUVW&DUG6,
{
6L[DUXQ6,
{ 6WUHDNLQ6L[6,
&KLFNDUXQ6,
2XU7KLUG'HOLJKW6,
L F\7%
{ 5HE¶V3RO
7LQ\¶V'HOLJKW6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
0LVV1HY DGD%HY6,
L F\7%
{ 5HE¶V3RO
6KH]D/XOX
%\75(66(,66,&KDPSLRQFROW>*@6LUHRI520
VWDNHVZLQQHUVLQFO2&+2$6,FKDPSLRQDW
$OO $PHULF
DQ )XW >*@ 75(6 3$66(6 6, ZLQV
/RV $ODPLWRV 7ZR 0LOOLRQ )XW >*@ :,/' 6,; 6, 5DLQERZ)XW>*@75(6)5,(1'66,5DLQERZ
)XW>*@),1&+(6,>5*@',$021'75(66(,66,
VWGDP
'2&6),567&$5'6,E\)LUVW'RZQ'DVKZLQVWR6DQ-XDQ
&DSLVWUDQR6QG*RYHUQRU¶V&XS)XW>5@ >*@.LQGHUJDUWHQ)XW >*@
0DULSRVD6 ILQDOLVW(G%XUNH)XW >*@*RYHUQRU¶V&XS'HUE\>5@ >*@
TXDOLILHGWR&DOLIRUQLD6LUHV¶&XS)XW>5@ >*@+DOIVLVWHUWR $5(*$/3$6
6,216,'DPRIIRDOVRIUDFLQJDJHWKUHH\HDUROGVDOOVWDUWHG
WRUDFH520ZLQQHUVLQFOXGLQJ±
6(&5(7&$5'6,IE\5DLVH$6HFUHW &KDPSLRQ<HDU2OG)LOO\
ZLQVWR.LQGHUJDUWHQ)XWXULW\ >*@QG*ROGHQ6WDWH)XWXULW\
>*@(G%XUNH0HPRULDO)XWXULW\ >*@&DOLIRUQLD6LUHV¶&XS'HUE\>5@
>*@ ILQDOLVWLQWKH3&4+5$%UHHGHUV¶)XWXULW\ >*@'DPRI±
0DNH,W6HFUHW6,JE\0DNH,W$Q\ZKHUHZLQVWRQG
/RV$ODPLWRV0LOOLRQ-XYHQLOH,QY>5@ >*@
6HSDUDWH&DUG6,JE\6HSDUDWLVWZLQVWRQG&DOLIRUQLD
%UHHGHUV6SULQW6>5@
6HSDUDWH6HFUHWV6,FE\6HSDUDWLVWZLQVLQVWDUWVDW IL
QDOLVW$OO$PHULFDQ)XWXULW\ >*@*RYHUQRU¶V&XS)XWXULW\>5@ >*@
7DUDV6HFUHW6,IE\:DON7KUX)LUH:LQQHUWR ILQDOLVWLQWKH
3&4+5$%UHHGHUV¶)XWXULW\ >*@
'XWFK6HFUHW6,IE\6HSDUDWLVWZLQVWR'DPRI±
'RFV)LUVW)LUH6,JE\:DON7KUX)LUHZLQVWR ILQDOLVWLQ
WKH(G%XUNH0LOOLRQ)XWXULW\ >*@
'2&6$32//26,JE\$SROOR7%ZLQVWR*ROGHQ6WDWH
'HUE\ >*@UG6XQ5D\3DUN0DUDWKRQ6 ILQDOLVWLQWKH*ROGHQ6WDWH0LO
OLRQ)XWXULW\ >*@
7:,163,5(66,JE\6HSDUDWLVWZLQVWR.LQGHUJDUWHQ
)XWXULW\ >*@QG0DNH,W$Q\ZKHUH2YHUQLJKW6UG)RUW(ULH0DWXULW\
&$57(/6),567&$5'6,JE\&RURQD&DUWHOZLQVWR
$UDSDKRH([SUHVV6'DVKIRU6SHHG6QG2%&RFNHUHOO+ >*@(G
%XUNH0HPRULDO-XYHQLOH ILQDOLVWLQWKH/RV$ODPLWRV6XSHU'HUE\ >*@
'RFV%HVW&DUG6,FE\&RURQD&DUWHOZLQVDWQG
(G%XUNH0LOOLRQ)XWXULW\ >*@.LQGHUJDUWHQ)XWXULW\ >*@
7UHV3ULPHURV6,JE\7UHV6HLVZLQVWRQG6QRZ
ERXQG6XSHUVWDU+ ILQDOLVWLQWKH(O3ULPHUR'HO$QR'HUE\ >*@
'RFV)LUVW&DUWHO6,JE\&RURQD&DUWHOZLQVWRQG6LJ
QDWXUH6
2QH0RUH&DUG6,IE\&DUWHUV&DUWHOZLQVWRQG
+ROLGD\6*DUGHQ*URYH+
'RFV)O\LQJ&DUG6,JE\6WUDZIO\6SHFLDOZLQVWRUG
6WRFNWRQ'HUE\+
3OD\<RXU&DUG6,IE\6HSDUDWLVWZLQVWR
(1*$*(0(176$OO$PHULFDQ5DLQERZ5XLGRVR)XW
(PEU\RWUDQVIHU
5*3
+LS1R
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQW
3DLQWHG/DVVR
)HEUXDU\%D\&ROW
3<&3DLQW<RXU:DJRQ6,
3DLQWHG/DVVR
-R1-HVVLH6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
'DVKLQ)ROOLHV
F LDO6,
{ 6WUDZIO\6SH
'DVKLQJ)ROO\6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
-RDQQD.DWH6,
{ 5DUH)RUP6,
%XJ(P8S6,
%\ 3<&3$,17<285:$*216,6WDNHVZLQQHURI>*@
6LUHRI520VWDNHVZLQQHUVLQFO,0$)$1&< 3<&6,
ZLQV2NOD%UHG)XW>5*@:$*217$/(66,ZLQV
)5(,*+775$,1 % 6, %ODFN *ROG )XW >*@
-2.(521-$&.6,2.+RUVHPDQ¶V0\VWHU\)XW>5*@
QWU &58=,17+(:$*216,9DOOH\-XQFWLRQ)XW>*@
VWGDP
-R1-HVVLH6,E\0U-HVV3HUU\ZLQVWRQG5DLQERZ-XYH
QLOH6>5@'DPRIIRDOVRIUDFLQJDJHDOO\HDUROGVWRUDFHLQFOXGLQJ±
$'DVKLQJ5HDVRQ6,IE\*RRG5HDVRQ6$:LQQHUDW
QGGDP
-2$11$.$7(6,E\5DUH)RUP &KDPSLRQ$JHG0DUHZLQVWR
/RV $ODPLWRV &KDPS >*@ 7H[DV &KDPS &KDOOHQJH >*@
5HPLQJWRQ*ROG&XS >*@5HG(DUWK+ >*@%RE0RRUH6/DV &ROLQDV
6QG&KDOOHQJH&KDPS >*@$OO$PHULFDQ'HUE\ >*@5HPLQJWRQ3DUN
'HUE\ >*@1HZ0H[LFR'HUE\&KDOOHQJH >*@&ODVVLF&KHYUROHW6>5@
UG+HULWDJH3ODFH)XWXULW\ >*@'DPRIIRDOVWRUDFH520LQFO±
7+$1.6)257+(5,'(6,JE\5HFNOHVV'DVKZLQVWR
+DUULVEXUJ+
, $LQW-R&KLFN6,IE\&KLFNV %HGXLQRZLQVWRQG)DLU
0HDGRZV%HOOHV6UG5HG(DUWK6 ILQDOLVW$OO$PHULFDQ)XWXULW\ >*@
-D[5RVV6,FE\6WUDZIO\6SHFLDO:LQQHUDWUG5DLQERZ
)XWXULW\ >*@5XLGRVR-XYHQLOH,QY>5@ >*@
-R1-HVVLH 6,IE\0U-HVV3HUU\6WDNHVSODFHGZLQQHUDERYH
-R&DUYHU6,JE\:DYH&DUYHUZLQVWR ILQDOLVW >*@
-R&KURPH6,JE\ $SROOLWLFDO-HVVZLQVWR ILQDOLVW >*@
$ZVRPH)XU\6,FE\ )XU\RIWKHZLQGZLQVWR
2QH4XLFN4XHVWLRQIE\5R\DO4XLFN'DVK8QUDFHG'DPRI±
1.+22766,ZLQVWR9DOOH\-XQFWLRQ)XWXULW\
QG&KHURNHH1DWLRQ6 ILQDOLVW >*@
UGGDP
%8*(0836,E\3DVVµ(P8S7%ZLQVDW0LVV3ROO\+
&ODVVLF 6RXWKHUQ %HOOH &ODVVLF 6LVWHU WR 0,*+7< 3$66 6, +H
%XJVHP6,'DPRIIRDOVWRUDFHDOOZLQQHUVLQFOXGLQJ±
-2$11$.$7(6,IE\5DUH)RUP &KDPSLRQDERYH
7RQWR/H%ODQF6,FE\-HW7RURZLQVWRUG .7)06+LOO
&RXQWU\60DQRU'RZQV+, ILQDOLVW 74+$6LUHV¶&XS)XWXULW\>5@ >*@
WKGDP
0,660,*+7<%8*6,E\/DG\%XJ¶V0RRQZLQVWR )UHP
%RXVWDQ\ )XWXULW\ %D\RX &RXQWU\ 'HUE\ 3DORPLQR )XWXULW\ QG 6RXWK
7H[DV'HUE\HWF6HW 175'DPRI520LQFOXGLQJ±
0,*+7<3$666,3DVVµ(P8S7%ZLQVWR/HR+'DPRI
0,*+7< ($6< 3$66 6, >*@ 3DVV 1 )ODVK 6, JUDQGGDPRI 3DVVLQ3URXG6,
%8*(0836,3DVVµ(P8S7%6WDNHVZLQQHUDERYH
+H %XJVHP 6,3DVVµ(P8S7%ZLQVQG)LUHFUDFNHU 'E\ >*@
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\5R\DO9LVWD5DQFKHV//&$JHQWIRU'/5DFH+RUVHV
3HH%HH1-DPHV
+LS1R
-DQXDU\%URZQ&ROW
,YRU\-DPHV6,
3HH%HH1-DPHV
3DW%6W\OLQ
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
'DVKLQ)ROOLHV
F LDO6,
{ 6WUDZIO\6SH
'DVKLQJ)ROO\6,
{
6WUHDNLQ/D-ROOD6,
{ 6WUHDNLQ6L[6,
%RWW RP¶V8S6,
,YH%HHQ/LHG7R6,
{ 6L[)ROV6,
1DW LYH-HW'ROO6,
%\,925<-$0(66,6WDNHVSODFHGZLQQHURIUDFHV
%URWKHUWR3<&3$,17<285:$*216,6LUHRI520VWDNHV
ZLQQHUVLQFO,9$1-$0(66,ZLQVDW
6DP+RXVWRQ)XW>*@),56735,=(',9(6,ZLQV%ODFN
*ROG )XW >5*@ 5$3,' ,925< 6, -% -$0(6 6, 5$:+,'(&5((.6,63(&,$/6-$0,(6,
VWGDP
3$7%67</,1E\6WUHDNLQ/D-ROOD8QSODFHG6LVWHUWR 0DUYLQV6WUHDNHU6,
'DPRIIRDOVRIUDFLQJDJHWRUDFHDOOZLQQHUVLQFOXGLQJ±
6W\OH2Q6SHHG'LDO6,JE\,YRU\-DPHVZLQVWR
,EVW\OLQILUVW6,JE\,YRU\-DPHVZLQVWR
QGGDP
,9(%((1/,('726,E\6L[)ROVZLQVLQVWDUWVDW7RWV
5DQGOH0HPRULDO)XWXULW\ >*@+DOIVLVWHUWR /HDYLQ0\7UDFNV 6,2XW
RI 1$7,9(-(7'2//6,'DPRIVWDUWHUV520LQFO±
'2//6352',*<6,IE\5RQDV5\RQZLQVWR0LOH
+LJK)XWXULW\ >*@5RFN\0RXQWDLQ)XWXULW\ >*@&KHUU\&UHHN)XWXULW\
>5@ >*@UG0LOH+LJK0DWXULW\6HW1:5\LQ'DPRI±
6+$=2206'2//6,ZLQVWR5RFN\0RXQWDLQ)XWXULW\
>*@&KHUU\&UHHN)XWXULW\>5@ >*@QG:HVW6RXWKZHVW'LVWDII&KDO
OHQJH ILQDOLVWLQWKH.DQVDV)XWXULW\ >*@'DPRI .8+/:$9(6,
WR$OWRRQD'HUE\ >*@ ,OO3DLQW7KH7RZQ6,
ZLQVLQVWDUWVWR :DQWLQJ7R:LQ6,>5@
>*@7HOOHU6KH]D'ROO6,ZLQVDWILQDOLVW >*@
'ROOV6WUHDNHU6,ZLQVDWQG0LOH+LJK)XWXULW\ >*@UG
5RFN\0RXQWDLQ)XWXULW\ >*@
:KRV.LVVLQ:KR6,:LQQHUWRUG'DVKIRU6SHHG6
5RFN\ 0RXQWDLQ &KDPS >5@ ILQDOLVW >*@ 'DP RI :+26 .,66,1
&$57(56,WR .LVVLQ:DYH6,
'ROOV5HJDO&KRLFH6,3ODFHGWRQG&KHUU\&UHHN)XWXULW\
>5@ >*@UG0LOH+LJK)XWXULW\ >*@
%(67)227)25(:$5'6,JE\5RQDV5\RQZLQVWR
5RFN\0RXQWDLQ&KDPS>5@QG5RFN\0RXQWDLQ&KDPS>5@$PHULFDQ
)O\HU6>5@UG'DVKIRU6SHHG6 ILQDOLVWLQWKH.DQVDV)XWXULW\ >*@
6+(=$ )$67 '$6+(5 6, +H]D )DVW 'DVK ZLQV WR 5RFN\0RXQWDLQ)XWXULW\ >*@ ILQDOLVWLQWKH0LOH+LJK)XWXULW\ >*@9DOOH\
-XQFWLRQ)XWXULW\ >*@$OWRRQD'HUE\ >*@
-0::KDWD:DYH6,JE\:DYH&DUYHUZLQVWRQG
5RFN\0RXQWDLQ)XWXULW\ ILQDOLVWLQWKH0LOH+LJK)XWXULW\ >*@
0DUYLQV6WUHDNHU6,JE\6WUHDNLQ/D-ROODZLQVWRQG
&KHUU\&UHHN)XWXULW\>5@ >*@UG0LOH+LJK)XWXULW\ >*@
7KH:RUNV6,JE\6WUDZIO\6SHFLDOZLQVWRQG0LOH+LJK
'HUE\ >*@ ILQDOLVW5RFN\0RXQWDLQ'HUE\ >*@$XURUD'HUE\>5@ >*@
6KRRW)RU7KH*ROG6,JE\6KRRW<HDKZLQVWRUG&ROR
UDGR%UHHGHUV¶)XWXULW\>5@
6RPHWKLQ)DVW6,IE\6SHFLDO/HDGHUZLQVWR ILQDOLVW>5@
>*@'DPRI 6SDUN\0F&ORQH6,WR
(1*$*(0(176$4+$&KDOOHQJH
5*3
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\-DPHV5DQFK$JHQWIRU:HHWRQD6WDQOH\
)DVW3UL]H7DFLWDQ
+LS1R
$SULO%D\&ROW
7DF,W/LNH$0DQ6,
)DVW3UL]H7DFLWDQ
)DVW3UL]H&RU RQD6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
-XPSLQJ7DF)ODVK6,
{ 7ROOWDF6,
%HDW<RXU3DQWV2II6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
)DVW)LUVW3UL]H6,
{ +H]D)DVW0DQ6,
)LUVW3UL]H'DVK6,
%\7$&,7/,.($0$16,6WDNHVZLQQHURI>*@+DOI
EURWKHUWR&$57(56&$57(/6,FKDPSLRQ6LUHRIVWDNHVZLQ
QHUVLQFOXGLQJ,*27<2857$&6,*ROGHQ6WDWH
0LOOLRQ)XW>*@7+(/21*.1,)(6,ZLQV7H[DV&ODV
VLF 'HUE\ >*@ QG 5DLQERZ )XW >*@ %/2&. 1 7$&./( 6, >*@,//7$&0$1+$77$16,ZLQVLQVWDUWV
VWGDP
)$6735,=(&2521$6,E\&RURQD&DUWHO:LQQHUWR'DPRI
IRDOVRIUDFLQJDJHIRXU\HDUROGVDOOVWDUWHGWRUDFH520LQFO±
63,7/,.(-$**(56,FE\6SLW&XUO-HVVZLQVLQVWDUWVDW
6SHHGKRUVH)XWXULW\ >*@QG+HULWDJH3ODFH-XYHQLOH,QY IL
QDOLVW%ODFN*ROG)XWXULW\&KDPS>5@ >*@%ODFN*ROG)XWXULW\ >*@
&57XFNHUQXFN6,JE\-HW%ODFN3DWULRWZLQVWR
UG&RURQD&DUWHO6 ILQDOLVW5XLGRVR'HUE\ >*@7H[DV&ODVVLF)XW >*@
&KDVLQ0RMR6,JE\6SLW&XUO-HVV:LQQHUWRUG
5DLQERZ)XWXULW\-XYHQLOH,QY>5@
6SLW+LW7KH)DQ6,JE\6SLW&XUO-HVVZLQVWR
)DVW%ODFN3UL]H6,JE\-HW%ODFN3DWULRWZLQVWR
)DVW3UL]H&XUO6,IE\6SLW&XUO-HVV:LQQHUWR
6SLW/LNH$3LW6,FE\6SLW&XUO-HVV:LQQHUDW ILQDOLVW
LQWKH6SHHGKRUVH)XWXULW\ >*@
4XLRQV6,IE\6SLW&XUO-HVV:LQQHUDW ILQDOLVW>5@ >*@
QGGDP
)$67),56735,=(6,E\+H]D)DVW0DQZLQVDW+HULWDJH
3ODFH)XWXULW\ >*@6LVWHUWR +(=$)$67'$6+6, >*@
)DVW0DQV3UL]HGDPRI )$6735,=(0,.(6, >*@KDOI
VLVWHU WR ),567 35,=( /((6$ 6, >*@ GDP RI ),567
35,=( 6+$81'$ 6, >*@ ),567 &$52/,1$ 6, >*@GDPRI 06),56735,=(526(6, >*@
&2521$'2&$57(/6, '(19(53$666,
),56735,=(52%,16, >*@ ),56735,=('2&6,
)LUVW3UL]H3HUU\6, >*@)LUVW3UL]H)DQF\6,
GDPRI ,0$)$1&<3<&6,HWF'DPRI520LQFO±
)$6735,=(=2206,IE\6KD]RRPZLQVWR:HVW
7H[DV)XWXULW\ >*@1:5\LQ ILQDOLVW5DLQERZ)XW >*@
)DVW3UL]H'ROO6,IE\0U-HVV3HUU\ZLQVWRUG+DUUDK¶V
(QWHUWDLQPHQW )XWXULW\ >*@ ILQDOLVW 5HPLQJWRQ )XWXULW\ >*@ 'DP RI
)$6735,=(-25'$16, )DVW3UL]H'ROO7RR6,
0V )DVW )LUVW 3UL]H 6, I E\ '019 0RXQWDEOH ZLQV WR QG:HVW7H[DV'HUE\ >*@ ILQDOLVW7H[DV&ODVVLF'HUE\ >*@
)DVW3UL]H&RXQWU\6,ZLQVWRQG'DVWDUGO\'HVHUW'DVK6
)DVW3UL]H7UDF\6,IE\6KD]RRPZLQVWRUG-RH%
7XUQHU0HPRULDO6'DPRI 63,7&85/75(<6,
)DVW)O\LQ3UL]H6,IE\6WUDZIO\LQ%XGV:LQQHUWR'DPRI
3DLQWHG'HVLUHV6,ZLQVWR
)DVW3UL]H$QJLH6,IE\2DN7UHH6SHFLDO3ODFHGLQVWDUWVDW'DPRI
'$6+,1)25$35,=(6,'DVKIRU&DVK'HUE\ >*@
)DVW3UL]H*LQJHU'DPRI .,77<.$7*$/25(%6,WR
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\*UDQW)DUPV//&
5XQDZD\ %U\GH
+LS1R
0DUFK6RUUHO)LOO\
$PHULF DQ5XQD ZD\6,
5XQD ZD\ %U\GH
0&0 'RQW/RRN%DFN6,
{
2FHDQ5XQD ZD\6,
{ )LUVW'RZQ'DVK6,
5XQD ZD\:DYH6,
$OODPHULFDQGUHDPJLUO6,
F LDO6,
{ 6WUDZIO\6SH
'DVKLQJ3KRHEH6,
{
)LUVW7R6KLQH6,
{ )LUVW'RZQ'DVK6,
0DUF\'DUOLQJ6,
$FF HQWV6,
F LDO/HDGHU6,
{ 6SH
'LVW LQFW LYHO\6,
%\$0(5,&$1581$:$<6,&KDPSLRQ\HDUROGFKDPSLRQ
\HDUROGFROWVWDNHVZLQQHURIUDFHV5XLGRVR)XW>*@QG
5DLQERZ)XW>*@7H[DV&ODVVLF)XW>*@+LVILUVWIRDOVDUH\HDUROGV
RILQFO&$5(/(66/,*+71,1*6,ZLQV 74+$6LUHV¶
&XS)XW>5@0LVV%DG.LWW\%ZLQQHU$Q$JLW DWRUUG
:HVW7H[DV -XY,QY>5@6RQRIFKDPSLRQ2&($1581$:$<6,
VWGDP
0&0 '217/22.%$&.6,E\)LUVW7R6KLQHZLQVLQVWDUWVWR
/RXLVLDQD'HUE\>5@ >*@%LOO\0RQWJRPHU\6>5@ >*@ ILQDOLVW
0DUGL*UDV)XWXULW\>5@ >*@/RXLVLDQD%UHHGHUV¶/DVVLH)XWXULW\>5@ >*@
/RXLVLDQD&KDPSLRQV'D\'HUE\>5@ >*@6HW 175DW)DLU*URXQGV\
LQ'DPRIIRDOVRIUDFLQJDJHLQFOXGLQJD\HDUROGDOOVWDUWHG
ZLQQHUVLQFOXGLQJ±
0&0/RRN$W0H'DVK6,IE\ +H]D)DVW'DVK:LQQHUWR
0&0 'RQW/RRN$W0H6,IE\ +H]D)DVW'DVK:LQQHUDW
0&0/RRNLQJ*RRG6,IE\ +H]D)DVW'DVK:LQQHUWR
QGGDP
$&&(1766,E\6SHFLDO/HDGHU:LQQHUDW'DPRIIRDOVWRUDFH
ZLQQHUVLQFOXGLQJ±
0&0'217/22.%$&.6,IE\)LUVW7R6KLQH6WDNHVZLQQHUDERYH
:$5&+$1766,JE\ 2VFHROD:DUULRUZLQVWR/LYH2DN
6>5@ ILQDOLVWLQWKH/RXLVLDQD%UHHGHUV¶/DGGLH)XWXULW\>5@ >*@
0&0$FFHQW2Q'DVK6,IE\6RPH'DVKHUZLQVWR
0&0 %ULGOHVQEULWFKHV6,JE\ +H]D)DVW'DVKZLQVWR
0&0&DMXQ$FFHQW6,JE\ +H]D)DVW'DVKZLQVWR ILQDO
LVW0DUGL*UDV)XWXULW\>5@ >*@/RXLVLDQD%UHHGHUV¶/DGGLH)XW>5@ >*@
6HW 175DW'HOWD'RZQV\LQ
6DUDKV9DOHQWLQH6,IE\5HHGV'DVKZLQVWR ILQDOLVWLQWKH
/RXLVLDQD%UHHGHUV¶/DVVLH)XWXULW\>5@ >*@
0&0 %RUJDWD6,JE\)LUVW'RZQ-HZHOZLQVWR
0- +H]D 'DVKLQ)DVW6,JE\ +H]D)DVW'DVK:LQQHULQVWDUWVDW
0U&DGLOODF0DQ6,JE\ $]RRP:LQQHUWR
UGGDP
',67,1&7,9(/< 6,E\:KDW/XFN7%ZLQVWR %HXODK'HUE\
QG$OO$PHULFDQ&RQJUHVV'HUE\6LVWHUWR /8&.6)$0(6,JUDQGGDP
RI :,11(56$:$5'6, ,0$5($'<6, 6XUH 1XII/XFN
6,/XFNV*ROGGDPRI 1,*+77,0( '((/,7(66, *ROG
0HGDO'DVK6, >*@JUDQGGDPRI *2/'0('$/-(666,
>*@'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
6OLFH6,3LH,Q7KH6N\ZLQVWRUG*ROGHQ6WDWH)XWXULW\
>*@ ILQDOLVWLQWKH(O 3ULPHUR'HO $QR'HUE\ >*@
+LJK:LQH6,2Q$+LJKZLQVWR'DPRI±
0,66,2:$67$7(6,ZLQVWR)XWXUHRI,RZD6>5@ >*@
,RZD6WDOOLRQ'HUE\>5@ >*@)XWXUHRI,RZD6>5@'DPRI±
/RXLV
LDQD'RXJ6,ZLQVWRQG,RZD 4+5$)DOO6DOH
)XWXULW\3RON&RXQW\'HUE\>5@
(1*$*(0(176$4+$&KDOOHQJH
5*3
(PEU\RWUDQVIHU
+LS1R
7HOOHU&DUW HO6,
7HOOHU,P/HUR\
6L[*XQ7HUL6,
+LS1R
&RQVLJQHGE\-(+6WDOOLRQ6WDWLRQ$JHQW
7HOOHU,P/HUR\
)HEUXDU\%URZQ&ROW
O DQG(DVH6,
&RU RQD&DUW HO6,
{ +RO
&RU RQD&KLFN6,
{
{
-HW$ORQJ-DPLH6,
{ (DV\-HW6,
-DLPLH-D\6,
)LVKHUV'DVK6,
{ )LUVW'RZQ'DVK6,
)LVKHUV)DY RULWH6,
6L[*XQ$QQ LH6,
{ 6L[DUXQ6,
(DV\&DUULH$QQ6,
%\7(//(5&$57(/6,&KDPSLRQFROW$OO$PHULF
DQ
)XW>*@6LUHRIVWDNHVZLQQHUVLQFOXGLQJ//$127(//(5
6,ZLQV$OO$PHULF
DQ'HUE\>*@5XLGRVR'HUE\>*@
//$12&$57(/6,>*@&$57(/48,&.6,
5XLGRVR)XW>*@%2,*(25*(6,:HVW7H[DV)XW>*@
1LJKWWLPH/LQHV6,>*@+855,&$57(/6,
VWGDP
6,;*817(5,6,E\)LVKHUV'DVK:LQQHUWR'DPRIIRDOVRI
UDFLQJDJHLQFOXGLQJDQXQVWDUWHG\HDUROGWRUDFHLQFOXGLQJ±
6L[*XQ6KD]RRP6,JE\6KD]RRPZLQVWR
$FW$)RRO$4+$$3+$6,JE\'RF3RUXQRZLQVWRLQ$3+$
UDFHV
QGGDP
6,;*81$11,(6,E\6L[DUXQZLQVWR+DOIVLVWHUWR $1,7$6
)($785( 6, >*@GDPRI 25,216'5($0 6,
>*@JUDQGGDPRI 25,216$:$5'6,>5@ >*@ +27129$
6,>5@ >*@ 2ULRQV.RRO 6,>5@ >*@HWF'DP
RIIRDOVWRUDFH520LQFOXGLQJ±
$11(23(16,IE\0U(\H2SHQHUZLQVWRLQ
862NOD)XW>5@ >*@.DQVDV-DFNSRW'HUE\>5@ >*@2NOD+RUVH
PHQ¶V$VVRF)XWXULW\>5@2NOD+RUVHPHQ¶V$VVRF'HUE\>5@QG.DQ
VDV-DFNSRW)XW>5@ >*@6KHEHVWHU)XW >*@%OXH5LEERQ >*@ZLQVWR
86$LQ0H[LFR&O,QDXJXUDO >*@HWF'DPRI±
065(*$5' 6, ZLQV WR 1HZ 0H[LFR )LOOLHV 0DUHV
&KDPS>5@ >*@-XQR¶V5HTXHVW6 >*@=LD3DUN5RDG5XQQHU6
QG/RX:RRWHQ+>5@ >*@UG1HZ0H[LFR)LOOLHVDQG0DUHV&KDPS
>5@ >*@)RXU&RUQHUV6HQRUD6>5@ ILQDOLVWLQWKH/RX:RRWHQ+>5@
>*@WZLFH6HW175DW=LD3DUN\LQ
6L[*XQ5HJDUG6,ZLQVWRQG+DVWD/D9LVWDUG
6KXH)O\6>5@ >*@ ILQDOLVWLQWKH=LD)XWXULW\>5@ >*@
$QQLH(\H2YHU6,IE\0U(\H2SHQHU:LQQHUDW'DPRI±
//$12 7(//(5 6, ZLQV WR $OO $PHULFDQ 'HUE\
>*@5XLGRVR'HUE\ >*@5HPLQJWRQ3DUN)XW >*@5HPLQJWRQ3DUN
&KDPS &KDOOHQJH >*@QG $4+$ &KDOOHQJH &KDPS >*@/HR 6
>*@3UDLULH0HDGRZV&KDPS&KDOOHQJHUG+HULWDJH3ODFH)XW >*@
(<(6$/,/&8(5926,ZLQVWR/D9LOOLWD6 ILQDOLVWLQWKH
0DQRU'RZQV'HUE\ >*@0LOH+LJK'HUE\ >*@'DPRI±
//$12&$57(/6,ZLQVWR/HR6 >*@-DFN
%URRNV6>5@ >*@0\VWHU\'HUE\>5@QG5HPLQJWRQ&KDPS >*@HWF
-= =RRPLQ &XHUYR 6, ZLQV LQ VWDUWV DW UG
2NODKRPD+RUVHPHQ¶V$VVRF0\VWHU\)XWXULW\>5@ >*@
%LJ&KRS6,ZLQVWRUG6/0%LJ'DGG\6
-'6,ZLQVWRQG'DQD3RLQW+
/LO$QQLH(\H2YHU6,ZLQVQG0DQXHO/XMDQ+>5@ >*@
:KRQHZ6,ZLQVWRUG5HPLQJWRQ3DUN'DVK
$QQLHV)RUPIE\5DUH)RUP8QSODFHG'DPRI±
%URRNV0LGQLJKW6,ZLQVDW TXDOLILHGWR$OO$PHULFDQ)XWX
ULW\ >*@ ILQDOLVWLQWKH5DLQERZ)XWXULW\ >*@
5*3
(1*$*(0(176$4+$&KDOOHQJH
+LS1R
&RQVLJQHGE\ )HWWHUPDQ5DQFK//&
2QH:LQQLQJ-HVV
+LS1R
)HEUXDU\6RUUHO)LOO\
2QH6ZHHW-HVV6,
2QH:LQQLQJ-HVV
%ULPPLQJ:LQQ HU
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
2QH6ZHHW'DVK6,
{ )LUVW'RZQ'DVK6,
6ZHHW %HGXLQR6,
{
%ULPPHUWRQ6,
{ )LUVW'RZQ'DVK6,
)LWWLQJ&HOH E UDW LRQ6,
&DXW LRXV:LQQ HU6,
D ZD\:LQQ HU6,
{ 5XQ
&DXW LRXV6DO7%
%\21(6:((7-(666,6WDNHVZLQQHURIUDFHV>*@
+DOIEURWKHUWR21('$6+,1*($*/(6,ZRUOGFKDPSLRQ+LVILUVW
IRDOVDUH\HDUROGVRI6LUHRI520LQFOXGLQJ2QH6ZHHW0DULH
IQO2NODKRPD%UHG)XW>5*@2QH6ZHHW5XQDZD\6,ZLQ
QHU IQO>5*@-HVV %XUQLQ6,ZLQQHU IQO5XLGRVR
)XW >*@)RU6ZHHW-HVV6,ZLQQHU UG3RW 2¶*ROG )XW
VWGDP
%5,00,1*:,11(5E\ %ULPPHUWRQ8QUDFHG'DPRIIRDOVRIUDFLQJDJH
ERWK XQUDFHG
QGGDP
&$87,286 :,11(5 6, E\ 5XQDZD\ :LQQHU ZLQV LQ VWDUWV DW &RZJLUO)XWXULW\'DPRIIRDOVWRUDFH520LQFOXGLQJ±
&$87,286 0(025,(6 6, J E\ /HDYLQJ 0HPRULHV ZLQV DW 5DLQERZ)XWXULW\ >*@ ILQDOLVWLQWKH$OO$PHULFDQ)XWXULW\ >*@
:,11,1*,17+(%8))6,JE\&RSSHU%XIIZLQVWR
5XLGRVR'HUE\ >*@ ILQDOLVWLQWKH/HR6 >*@ .2);)0+ >*@
$1'7+(%($7*2(621 6, I E\ /HDYLQJ 0HPRULHV ZLQV WR 5DLQERZ-XYHQLOH,QY>5@ >*@UG$OO$PHULFDQ'HUE\ >*@ IL
QDOLVWLQWKH$OO$PHULFDQ)XWXULW\ >*@5DLQERZ'HUE\ >*@6HW 175DW
5XLGRVR'RZQV\LQ'DPRI±
)HDWXUH7KH%HDW6,:LQQHUWRUG5DLQERZ-XYHQLOH6>5@
7KH)LUVW%HDW6,ZLQVWRUG0DQLWRED6SHHG+RUVH
'HUE\
217+(0$3 6,IE\ 5HODJDWH7%ZLQVWR2NODKRPD'LV
WDII&KDOOHQJH >*@UG'LVWDII &KOJ&KDPS >*@6HW 175\'DPRI±
7+( )''0$36,ZLQVWR$OO&DQDGLDQ'HUE\
$MD[&KDPS&KDOOHQJH$OO&DQDGLDQ&ODVVLF0DWXULW\QG$MD['RZQV
0DWXULW\UG2QWDULR-DFNSRW'HUE\$OH[ 3LFRY0HPRULDO&KDPS
'$6+(5:,11(56,JE\6RPH'DVKHUZLQVWR.LQJ
:LOOLDP6 ILQDOLVWLQWKH6DP+RXVWRQ)XWXULW\ >*@
/RQH6WDU:LQQHU6,JE\/HDYLQJ 0HPRLUHVZLQVDW
&:/HDYHV1R'RXEW6,IE\/HDYLQJ0HPRULHV:LQQHUDW
UGGDP
&$87,2866$/7%E\:LWK&DXWLRQ8QUDFHG'DPRIIRDOVWRUDFHZLQ
QHUVLQFOXGLQJ±
&$87,286:,11(56,5XQDZD\:LQQHU6WDNHVZLQQHUDERYH
&DXWLRXV&RPPHQW7%(GLWRULDO&RPPHQWZLQV6HW 175I
WKGDP
'876$/E\3DFLILF1DWLYH8QSODFHG'DPRIIRDOVWRUDFHZLQQHUVLQ
FOXGLQJ±
&KHHWDK&DW3OHDVXUH&DVWOHZLQVWR'DPRI±
&+((7$+¶6&200(17ZLQVWR:LOORZ3DUN6QG'RQ
5LOH\6UG'U$% /HJJLR0HPRULDO+6HW 175ILQ
%LJ&DWV-HW6,ZLQVWR ILQDOLVW2OG6RXWK)XWXULW\ >*@
$P\¶V*ODVV5DLVH<RXU*ODVV8QUDFHG'DPRI±
+HUH&RPHV$P\6,ZLQVWR'DPRI±
0DG0DJLF6,ZLQVDWDQG
5*3
(1*$*(0(176$OO$PHULFDQ5DLQERZ5XLGRVR)XW
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&IRU6DQ*UHJRULR5DFLQJ6WDEOHV,QF
1DPH3HQGLQJ
+LS1R
0D\6RUUHO&ROW
7HPSWLQJ'DVK6,
1DPH3HQGL QJ
)LYH%DU&ODVV\6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
$7HPSWLQJ&KLFN6,
%HGXLQR6,
{ &KLFNV
7HPSW0H1RW6,
{
'DVK7D)DPH6,
{ )LUVW'RZQ'DVK6,
6XGG HQ)DPH6,
)LYH%DU(ER Q\
{ 6WUHDNLQ'DVK6,
0RP HQW,Q7LPH
%\ 7(037,1* '$6+ 6, &KDPSLRQ \HDUROG FROW 7H[DV &OVF)XW>*@175%URWKHUWR$7(037,1*'$6+6LUHRI520
VWDNHV ZLQQHUV LQFO .,66 0< +2&.6 6, FKDPSLRQ
WZLFHZLQV5DLQERZ'HUE\>*@ /29(7+(:$<<28/,(6,
+HULW DJH 3ODFH )XW >*@ 7(037,1* '(67,1< 6, :HVW7H[DV'HUE\>*@ +(=$'$6+,1%<(6,>*@
VWGDP
)LYH%DU&ODVV\6,E\'DVK7D)DPHZLQVLQVWDUWVWR
QG$PHULFDQ:HVW)XWXULW\>5@UG8WDK&ODVVLF'HUE\>5@ >*@$PHULFDQ
:HVW'HUE\>5@ ILQDOLVWLQWKH8WDK&ODVVLF)XWXULW\>5@ >*@6LVWHUWR ),9(
%$502//<6,'DPRIIRDOVRIUDFLQJDJHDOOZLQQHUVLQFOXGLQJ±
),9(%$56+2:*,5/6,IE\2NH\ 'RNH\'DOHZLQVDW
(G*LOHV0HPRULDO)XWXULW\
)LYH%DU/XFN\6,IE\ 7DF,W/LNH$0DQ:LQQHUDWUG
8WDK%UHG)XWXULW\>5@
QGGDP
),9(%$5(%21<E\6WUHDNLQ'DVK8QUDFHG'DPRIIRDOVZLQQHUVLQ
FOXGLQJ±
),9(%$502//<6,IE\'DVK7D)DPHZLQVWR9HV
VHOV0DWXULW\ >*@0LVV3ULQFHVV+ >*@8WDK&ODVVLF'HUE\>5@ >*@UG
'X%DU/HH*LOHV)UDQN+DUW)XWXULW\ ILQDOLVWLQWKH&KDPSLRQRI&KDP
SLRQV >*@/RV$ODPLWRV,QY&KDPS >*@'DPRI±
),9(%$5&$57(/6, &KDPSLRQ<HDU2OG&ROWZLQVLQVWDUWV
WR (G %XUNH 0LOOLRQ )XWXULW\ >*@ QG $OO $PHULFDQ
'HUE\ >*@ ILQDOLVW LQ WKH /RV $ODPLWRV 7ZR 0LOOLRQ )XWXULW\ >*@
*ROGHQ6WDWH0LOOLRQ)XWXULW\ >*@
)/<%$563(&,$/6,ZLQVWR&DOLIRUQLD%UHHGHUV¶0D
WURQ6>5@ >*@3RPRQD-XYHQLOH&KDPSQG0LVV3ULQFHVV+ >*@
ILQDOLVW0LOGUHG9HVVHOV+ >*@/RV$ODPLWRV,QY&KDPS >*@
)UHHGRP&KRLFH6,ZLQVLQVWDUWVWRUG/RV$ODPLWRV
7ZR0LOOLRQ)XWXULW\ >*@ TXDOLILHGWR(G%XUNH0LOOLRQ)XWXULW\ >*@
&DUWHOV%LJ*XQ6,:LQQHUWRUG/RV$ODPLWRV:LQWHU
'HUE\ >*@
0ROO\V&DUWHO 6, ZLQVLQVWDUWVWR ILQDOLVWLQWKH/RV
$ODPLWRV7ZR0LOOLRQ)XWXULW\ >*@(G%XUNH0LOOLRQ)XWXULW\ >*@ TXDOL
ILHGWR/RV$ODPLWRV:LQWHU'HUE\ >*@
(OFDSR6,ZLQVWR
$XWKRULW\&KRLFH6,ZLQVWR
'HOLJKWIXO0ROO\6,:LQQHUWR ILQDOLVWLQWKH/D 3ULPHUD
'HO $QR'HUE\ >*@
)LYH%DU&ODVV\6,IE\'DVK7D)DPH6WDNHVSODFHGZLQQHUDERYH
)LYH%DU'HDO6,JE\ 'HDOLQ2XWZLQVWR
)LYH%DU4XLFN&DVK6,JE\ 7DNLQ2Q7KH&DVK:LQQHUDWDQG
)LYH%DU)O\IE\ 6WROL8QSODFHGLQVWDUW'DPRI±
),9( %$5 6$66< 6, ZLQV LQ VWDUWV WR ,QWHUPRXQWDLQ)XWXULW\QG(G*LOHV0HPRULDO)XWXULW\
(1*$*(0(176$OO$PHULFDQ5DLQERZ5XLGRVR)XW/RV$ODPLWRV7ZR
0LOOLRQ)XW*ROGHQ6WDWH0LOOLRQ)XW(G%XUNH0LOOLRQ)XW
5*3
+LS1R &RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU 9DOHULDQR5DFLQJ6WDEOHV//& +LS1R
6LON2Q)LUH9
-DQXDU\*UD\&ROW
$SROOLWLFDO-HVV6,
6LON2Q)LUH9
;
6LON0RXQW DLQ6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
$SROOLWLFDO7LPH6,
{ $SROOR7%
+DOI7LPH$WW UDFW LRQ6,
{
3DQW KHU0RXQW DLQ6,
W HU0H*RQH6,
{ 0H
&DVK7KLV5XQQ HU6,
6LON6KRZF DVH7%
{ )HUUDUD
7ULS7R9HJ DV
%\ $32//,7,&$/-(666,:RUOGFKDPSLRQFKDPSLRQ\HDU
ROGFKDPSLRQ\HDUROGFROW/RV$O6XSHU'HUE\>*@175
&KDPSRI&KDPS>*@175+LVILUVWIRDOVDUH\HDUROGVRIVLUHRI
520 VWDNHV ZLQQHUV LQFO $-6 +,*+ 6, ZLQV
$4+$ -XY &KOJ&KDPS>*@ 32/,7,&$/<&255(&76,
'DVKIRU&DVK>*@ $SROOLWLFDO%ORRG6,QG>*@
VWGDP
6,/.02817$,16,E\3DQWKHU0RXQWDLQZLQVWR5XLGRVR
'LVWDII&KDOOHQJH-RH%7XUQHU0HPRULDO6QG5XLGRVR'HUE\&KDO
OHQJH >*@ ILQDOLVW LQ WKH 0DQRU )XWXULW\ >*@ $4+$ 'LVWDII &KDOOHQJH
&KDPS >*@'DPRIIRDOVRIUDFLQJDJHERWK\HDUROGVWRUDFH±
6LON&DUWHOIE\&RURQD&DUWHO3ODFHGLQVWDUWVDW
QGGDP
6,/.6+2:&$6(7%E\ )HUUDUD7%8QUDFHG'DPRIVWDUWHUV520LQFO±
6,/.02817$,16,IE\3DQWKHU0RXQWDLQ6WDNHVZLQQHUDERYH
9LWULQD6,IE\5R\DO6KDNH(PZLQVWR ILQDOLVW1HZ0H[LFR
-XYHQLOH&KDOOHQJH >*@1HZ0H[LFR'HUE\&KDOOHQJH >*@
UGGDP
75,3729(*$67%E\%ROG(JR8QUDFHG'DPRIVWDUWHUVZLQQHUVLQFO±
7ULSSLQ9LVLRQ6,9LVLRQDULDQZLQVWRQG*RYHU
QRUV&XS0DUDWKRQ60DUDWKRQ6WDNHV
7DQWDOL]LQJ(\HV6,0U(\H2SHQHUZLQVWR ILQDOLVWLQWKH
'DVKIRU&DVK-XYHQLOH,QY>5@ >*@'DPRI±
3(5621$/0,66,216,ZLQVWR6JW3HSSHU)HDWXUH6
+XQWLQJWRQ%HDFK2YHUQLJKW6UG $45$3UHVLGHQW¶V2SHQ6SULQJ
'HUE\ ILQDOLVWLQWKH/RV$ODPLWRV&KDPS >*@
,V,W%ROG7%,V,W7UXHZLQVWR
$OO$PHULFDQ/HDGHU6,6SHFLDO/HDGHUZLQVWR
5HWXUQ-RXUQH\7%,UJXQ:LQQHUWR'DPRI±
6DLQW6WUHHW7%ZLQVWR
WKGDP
'$1&,1*675$:E\'DQFLQJ'HUYLVK:LQQHULQVWDUWVDW+DOIVLVWHUWR
'RH%RZPDQ6WUDZ5RFNHWGDPRI &5$1.,783JUDQGGDPRI 0DMRUO\
&UDQN\6, ([WUDYDJDQW:RPDQ6,RXWRI 0675$:
'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
0$7&+,1*7%E\:KDW/XFNZLQVWR&RUUHFWLRQ+ >*@
0RQURYLD + >/@ HWF 'DP RI 0$7&+/(66 '$1&(5 7% JUDQGGDPRI &$57(/$55$1*(0(176,WR
7ULSS\'LS6FRXW/HDGHUZLQV'DPRI )/25(17,1(6,
&KDPSLRQWLPHV %URRGPDUHRIWKH<HDU >*@ &$/<;
6,&KDPSLRQ ,9(%((1%/(66('6,&KDPSLRQ 52<$/
0,5$&/(',36, 67$0(16, 67</866,
JUDQGGDPRI 7+,6612:,652<$/6,&KDPSLRQ
>*@ (9(1,1*612:6, >*@ *5$<,19$6,21 6,
$9,6216, >*@ 52&.(7$,56, WR
$&+,(9(0(176, 7KLV6QRZ,V0LQH6,
)URVW\6WUDZ7%ZLQV'DPRI ,&<02517%
(1*$*(0(176$OO$PHULFDQ5DLQERZ5XLGRVR)XW
(PEU\RWUDQVIHU
5*3
+LS1R &RQVLJQHGE\5DQFK$JHQWIRU(YDQV(YDQV%XUQHWW5DQFKHV//& +LS1R
0LJKW\3OHDVLQ
-DQXDU\&KHVWQXW)LOO\
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
7DF,W/LNH$0DQ6,
0LJKW\3OHDVLQ
%+%0LJKW\6,
{
{
-XPSLQJ7DF)ODVK6,
{ 7ROOWDF6,
%HDW<RXU3DQWV2II6,
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
0LJKW\%'ROO6,
{ 2Q$+LJK6,
0LJKW\*LUO*R
%\7$&,7/,.($0$16,6WDNHVZLQQHURI>*@+DOI
EURWKHUWR&$57(56&$57(/6,FKDPSLRQ6LUHRIVWDNHVZLQ
QHUVLQFOXGLQJ,*27<2857$&6,*ROGHQ6WDWH
0LOOLRQ)XW>*@7+(/21*.1,)(6,ZLQV7H[DV&ODV
VLF 'HUE\ >*@ QG 5DLQERZ )XW >*@ %/2&. 1 7$&./( 6, >*@,//7$&0$1+$77$16,ZLQVLQVWDUWV
VWGDP
%+%0,*+7<6,E\0U-HVV3HUU\:LQQHUWR ILQDOLVWLQWKH
5HWDPD 3DUN )XWXULW\ >*@ $OWRRQD 'HUE\ >*@ 6LVWHU WR 0,*+7<
,19,&7866, -(66%0,*+7<6,'DPRIOLYLQJIRDOVRIUDFLQJ
DJHWZR\HDUROGVDOOVWDUWHG520±
9DOLDQW6LVWHUIE\9DOLDQW+HUR:LQQHULQVWDUWVDW
&RURQD:LQG6,FE\&RURQD&DUWHO3ODFHGWR ILQDOLVW
LQWKH'DVKIRU&DVK)XWXULW\ >*@
QGGDP
0LJKW\%'ROO6,E\2Q$+LJKZLQVDWQG74+$%UHHGHUV¶
)XWXULW\ >5@ UG :HVW 7H[DV )XWXULW\ >*@ ILQDOLVW 6XQ &RXQWU\ )XWXULW\
>*@:HVW7H[DV'HUE\ >*@'DPRIIRDOVWRUDFH520LQFOXGLQJ±
0,*+7< % 9$/,$17 6, F E\ 9DOLDQW +HUR ZLQV WR 5HPLQJWRQ3DUN2NODKRPD%UHG)XWXULW\>5@QG+HULWDJH3ODFH)XWXULW\
>*@ ILQDOLVWLQWKH5DLQERZ)XWXULW\ >*@
0,*+7<,19,&7866,FE\0U-HVV3HUU\ZLQVWR'DVK
IRU&DVK'HUE\ >*@UG5XLGRVR'HUE\ >*@ ILQDOLVW$OO$PHULFDQ)XW >*@
$OO$PHULFDQ'HUE\ >*@5DLQERZ)XW >*@5DLQERZ'HUE\ >*@6LUH
*/25<5,'(56,IE\9DOLDQW+HURZLQVWR5DFH
)RU+RSH%RQXV&KDOOHQJH$4+$0HPEHUV3OXV6QG-XQRV5HTXHVW
6 >*@UG3UDLULH0HDGRZV'LVWDII&KDOOHQJH
-(66%0,*+7<6,IE\0U-HVV3HUU\ZLQVWR2NODKRPD
%UHG'HUE\>5@0LVV2OHQH+>5@ ILQDOLVW5HWDPD3DUN)XWXULW\ >*@
0,*+7<2%6&(66,216,IE\5XQDZD\:LQQHUZLQVDW
7KH4XDUWHU5DFLQJ-RXUQDO6QG1HZ0H[LFR-XYHQLOH&KDOOHQJH >*@
ILQDOLVWLQWKH5HPLQJWRQ)XWXULW\ >*@5HPLQJWRQ'HUE\ >*@'DPRI±
0,*+7<6+$=2206,ZLQVWR5RFN\0RXQWDLQ)XW >*@
0LWH\&DVK2EVHVVLRQ6,ZLQVWR ILQDOLVW>5@ >*@
%+%RRJLH6,JE\5XQDZD\:LQQHUZLQVWRUG+HUL
WDJH 3ODFH 'HUE\ >*@ 0H[LFR &KDPS &KDOOHQJH >*@ ILQDOLVW LQ WKH
5DLQERZ)XWXULW\ >*@$OO$PHULFDQ'HUE\ >*@5HPLQJWRQ)XWXULW\ >*@
%+%0LJKW\6,IE\0U-HVV3HUU\:LQQHUWR ILQDOLVWLQWKH
5HWDPD3DUN)XWXULW\ >*@$OWRRQD'HUE\ >*@
0LJKW\8QR6,IE\&KLFNV%HGXLQR3ODFHGWR ILQDOLVWLQWKH1HZ0H[
LFR-XYHQLOH&KDOOHQJH >*@'DPRI±
'DVKLQJ8QR6,ZLQVWRQG2NODKRPD)XWXULW\ >*@
$OWRRQD'HUE\ >*@UG5HPLQJWRQ3DUN'HUE\ >*@'DPRI±
+HDUWV2QD+HUR6,:LQQHULQVWDUWVDWQG+HUL
WDJH3ODFH-XYHQLOH,
9DOLDQW8QR6,ZLQVWR ILQDOLVW6DP+RXVWRQ)XW >*@
0LJKW\/DMROOD6,:LQQHUDWUG+HULWDJH3ODFH-XYHQLOH,QY>5@
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
(PEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\5R\FH5RJHUV$JHQW
$)DYRULWH/HJDF\
+LS1R
-DQXDU\%URZQ)LOO\
)DY RULWH&DUW HO6,
$)DY RUL WH/HJD F\
$/RYLQJ/HJD F\
{
)DY RULWH7ULFN7%
{ 3KRQH7ULFN
(YLO(ODLQH
6KHQRVKHUFRURQD6,
U RQD&DUW HO6,
{ &R
6KHQRVKHVSHFLDO6,
{
7HOOHU&DUW HO6,
U RQD&DUW HO6,
{ &R
-HW$ORQJ-DPLH6,
)RUW XQH2I'HOLJKW6,
W XQHV6,
{ 6L[)RU
2XU7KLUG'HOLJKW6,
%\)$925,7(&$57(/6,6WDNHVZLQQHURIUDFHV
$4+$&KOJ&KDPS>*@/RV$ODPLWRV&KDPS&KOJ>*@+DOIEURWKHUWR
6+(6&+(&.,1802876,+LVILUVWIRDOVDUH\HDUROGVRI6LUHRI
520LQFOXGLQJ/LWWOH7DONV6,ZLQVIQO*RYHUQRU¶V&XS
)XW)LUH$W:LOO6,ZLQVIQO>5*@/XY2Q7KH5XQ6,
ZLQVUG&DO%UGUV¶)UHVKPDQ>5@3ULVV\&DUWHO6,IQO>*@
VWGDP
$/29,1*/(*$&<E\7HOOHU&DUWHO8QUDFHG7KLVLVKHUILUVWIRDO
QGGDP
)25781(2)'(/,*+76,E\6L[)RUWXQHV %URRGPDUHRIWKH<HDULQ
ZLQVWR(O7HVRURGH2UR'HUE\QG5DLQERZ6LOYHU
&XS >*@ %XWWRQV DQG %RZV 6 >*@ 5XLGRVR +RUVH 6DOH 'HUE\ $W
6XQODQG>5@UG:RUOG¶V&KDPS&ODVVLF >*@1HZ0H[LFR6WDWH)DLU+
>*@*R7RJHWKHU+ >*@0LOHV$QLPDO+HDOWK&KDOOHQJH+DOIVLVWHUWR
75(66(,66,&KDPSLRQ >*@ '($10,5$&/(6,
&KDPSLRQ'DPRIIRDOVWRUDFH520LQFOXGLQJ±
$ '(/,*+7)8/ '$6+(5 6, &KDPSLRQ <HDU2OG &KDPSLRQ
<HDU2OG*HOGLQJZLQVLQVWDUWVWR$OO$PHULFDQ)X
WXULW\ >*@*ROGHQ6WDWH)XWXULW\ >*@5DLQERZ)XWXULW\ >*@
+(6 0< '$6+(5 6, &KDPSLRQ <HDU2OG *HOGLQJ ZLQV
5DLQERZ)XW >*@QG&KDPSLRQRI&KDPSLRQV >*@
$'(/,*+7)8//(*$&<6,IE\)LUVW'RZQ'DVKZLQVLQVWDUWVDW
$OO$PHULFDQ-XYHQLOH,QYLWDWLRQDO>5@ >*@ ILQDOLVWLQWKH/RV
$ODPLWRV0LOOLRQ)XWXULW\ >*@'DPRI±
,16(3(5$%/( 6, &KDPSLRQ <HDU2OG &KDPSLRQ <HDU2OG
&ROW ZLQVWR$OO$PHULFDQ'HUE\ >*@5DLQERZ'HUE\
>*@UG5DLQERZ)XW >*@ ILQDOLVW*ROGHQ6WDWH0LOOLRQ)XW >*@6LUH
6(3(5$7(,17(5(676,ZLQVWR.DZHDK%DU+
>*@=:D\QH*ULIILQ67RZQ3ROLF\6QG*ROGHQ6WDWH0LOOLRQ)XW
>*@&KULVWPDV6.DWHOOD6 ILQDOLVW/RV$ODPLWRV0LOOLRQ)XW >*@
7(//2)7+(3$676,:LQQHUWR/RV$ODPLWRV-XYHQLOH
&KDOOHQJHUG(O3ULPHUR'HO$QR'HUE\ >*@
-HVV%HIRUH'DZQ6,ZLQVWRUG/RV$ODPLWRV6XSHU
'HUE\ >*@/RV$ODPLWRV7ZR0LOOLRQ-XY ILQDOLVW5DLQERZ'HUE\ >*@
7HOOHU1R/LHV6,:LQQHUWRQG7RZQ3ROLF\6 ILQDOLVWLQ
WKH$OO$PHULFDQ'HUE\ >*@(O3ULPHUR'HO$QR'HUE\ >*@
6WDUOLWH'HOLJKW6,ZLQVWR ILQDOLVW >*@
%8&.6+27'(/,*+76,)LUVW'RZQ'DVKZLQVDW/D
0DULSRVD+ >*@UG5DLQERZ)XWXULW\ >*@ ILQDOLVW/XEERFN6 >*@
,1'(('$'(/,*+76,ZLQVWR5DLQERZ-XYHQLOH,QY6
$)RUWXQDWH&KRLFH6,IE\$5HJDO&KRLFHZLQVWRQG
6XQODQG3DUN:LQWHU)XWXULW\ >*@
)RUWXQH3HQGLQJ6,JE\:DYH&DUYHU:LQQHUWRQG
$MD[-XYHQLOH&KDOOHQJH
(QGOHVV'HOLJKW6,IE\5R\DO4XLFN'DVK:LQQHULQVWDUWDW
TXDOLILHGWR+HULWDJH3ODFH)XWXULW\ >*@'DPRI±
-(66)281'-2<6,ZLQVWR$XWXPQ+
(1*$*(0(176$OO$PHULFDQ5DLQERZ5XLGRVR)XW/RV$ODPLWRV7ZR
0LOOLRQ)XW*ROGHQ6WDWH0LOOLRQ)XW
5*3
+LS1R
&RQVLJQHGE\.XUW5DKPHLHU$JHQWIRU0LFKHOOH0HLZHV
5DF\5RFNHWWH
+LS1R
)HEUXDU\%URZQ)LOO\
O DQG(DVH6,
&RU RQD&DUW HO6,
{ +RO
&RU RQD&KLFN6,
&RU RQDV/HDYLQJ<RX6,
5DF\5RFNHWWH
'DVKLQ9LNH6,
{
{
/LO%LW5XVW\6,
{ (DVLO\6PDVKHG6,
5XVW\5RFNHWWH6,
'DVKLQ%\H6,
{ )LUVW'RZQ'DVK6,
6ZHHW%\H$QG%\H6,
5XQD ZD\9LNH6,
D ZD\:LQQ HU6,
{ 5XQ
0LVV5DF\9LNH6,
%\&2521$6/($9,1*<286,6WDNHVZLQQHURIUDFHVLQ
VWDUWV )LUHFUDFNHU )XW >*@+DOI EURWKHU WR ZRUOG FKDPSLRQ
:+26/($9,1*:+26,6LUHRI520VWDNHVZLQQHUV
LQFO23(10($&2521$6,ZLQV/4+%$%GUV¶)XW
>5*@'$6+)25&2521$66,2NOD)XW>*@:$67,1*
12&2521$6,>*@6&223,(6/($9,1*<28
VWGDP
'$6+,1 9,.( 6, E\ 'DVKLQ %\H :LQQHU LQ VWDUWV DW TXDOLILHG WR
3UHVFRWW9DOOH\/DGGLH/DVVLH)XWXULW\ >*@3UHVLGHQW¶V2SHQ6SULQJ)XWX
ULW\ >*@'DPRIIRDOVRIUDFLQJDJHERWKVWDUWHGLQFOXGLQJ±
581$:$<:$*216,JE\3<&3DLQW<RXU:DJRQZLQVWR
6DP +RXVWRQ &ODVVLF + >*@ )LUHFUDFNHU 'HUE\ UG 6DP
+RXVWRQ &KDOOHQJH &KDPS 6 >*@ ILQDOLVW 5HPLQJWRQ &KDPS >*@
6DP+RXVWRQ&ODVVLF+ >*@ TXDOLILHGWR7H[DV&ODVVLF'HUE\ >*@
QGGDP
581$:$<9,.(6,E\5XQDZD\:LQQHUZLQVDW'DPRI
IRDOVWRUDFH520LQFOXGLQJ±
92/&206,FE\)LUVW'RZQ'DVKZLQVWR/RV$ODPLWRV
:LQWHU&KDPS >*@(O3ULPHUR'HO$QR'HUE\ >*@/RV$ODPLWRV3UHS6
QG/RV$ODPLWRV6XSHU'HUE\ >*@UG*RYHUQRU¶V&XS)XWXULW\>5@ >*@
ILQDOLVW&KDPSLRQRI&KDPSLRQV >*@*ROGHQ6WDWH'HUE\ >*@6LUH
'DVKLQJ9LNH6,FE\)LUVW'RZQ'DVK:LQQHUWRQG
5XLGRVR'HUE\ >*@
-$&DOO&ROOHFW6,FE\)LUVW'RZQ'DVKZLQVWRUG&DQ
$P1DWLRQV&XS6 ILQDOLVWLQWKH6DP+RXVWRQ'HUE\&KDOOHQJH >*@
+L7RUL6,FE\)LUVW'RZQ'DVK:LQQHUWRQG&DOLIRUQLD
%UHHGHUV)UHVKPDQ6>5@ ILQDOLVWLQWKH.LQGHUJDUWHQ)XWXULW\ >*@6LUH
/LNH$=HSK\U6,JE\)LUVW'RZQ'DVKZLQVWR TXDOLILHGWR
*ROGHQ6WDWH'HUE\ >*@
UGGDP
0,665$&<9,.(6,E\5DFLQ)UHHZLQVWR5HPLQJWRQ
&KDPS >*@/DV'DPDV+ >*@7H[DV)XWXULW\ >*@%DQGHUD'HUE\
>*@ 0RRUH 6 QG 9HVVHOV 0DWXULW\ >*@ 5HPLQJWRQ &KDPS >*@
(DVWH[+ >*@HWF6LVWHUWR 5$&,19,.(6, >*@ 5$&,1
'($/6, >*@'DPRI520LQFOXGLQJ±
0,665$&<-(666,0U-HVV3HUU\ &KDPSLRQ<HDU2OG)LOO\ZLQV
LQVWDUWV/RV$ODPLWRV6XSHU'HUE\ >*@
0,665$&<(<(6 6,0U(\H2SHQHUZLQVWR6SHHGKRUVH
)XW >5@ >*@ HWF IQO >*@ 'DP RI 5$&< /$ -2//$ 6, 175
6WHSHQRV6,%LJ'DGG\&DUWHO6, IQO >*@
JUDQGGDP RI )(7&+,1* %($87< 6, >*@ :223'((
'226,DW %ROW/LJKWO\6,
9LNHV,RWD6,ZLQVWRQG+HULWDJH3ODFH)XW >*@
7KH%OXHWDLOIO\6,ZLQVWRQG:RRGODQGV&KDPS6
6L[DYLNH6,6L[DUXQZLQVQG(DVW&KDPS&KOJ >*@
*XOI&RDVW6$XVWLQ+>5@UG0H[LFR&KOJ >*@
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
-LP%DGHU)XW3RON&RXQW\'HUE\
5*3
$FFUHGLWHG,RZD%UHGHPEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\-RVH $FRVWD
*DEEDQHOOL
+LS1R
0DUFK%D\)LOO\
,YRU\-DPHV6,
*DEEDQHOOL
(\H/RYH,W6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
'DVKLQ)ROOLHV
F LDO6,
{ 6WUDZIO\6SH
'DVKLQJ)ROO\6,
{
0U(\H2SHQHU6,
{ 'DVK)RU&DVK6,
%HGDZHH6,
6ZHHWO\6SHF LDO6,
F LDO(II RUW6,
{ 6SH
6ZHHW,OOXV LRQ6,
%\,925<-$0(66,6WDNHVSODFHGZLQQHURIUDFHV
%URWKHUWR 3<&3$,17<285:$*216,6LUHRI520VWDNHV
ZLQQHUVLQFO,9$1-$0(66,ZLQVDW
6DP+RXVWRQ)XW>*@),56735,=(',9(6,ZLQV%ODFN
*ROG )XW >5*@ 5$3,' ,925< 6, -% -$0(6 6, 5$:+,'(&5((.6,63(&,$/6-$0,(6,
VWGDP
(<(/29(,76,E\0U(\H2SHQHUZLQVWR'DPRIIRDOVRI
UDFLQJDJHLQFOXGLQJD\HDUROGDOOVWDUWHGZLQQHUVLQFOXGLQJ±
&RSSHU2DNV6,IE\ %ULPPHUWRQZLQVWR ILQDOLVWLQ
WKH5HPLQJWRQ2NODKRPD%UHG'HUE\>5@ >*@%ODFN*ROG)XW >*@
-HVVLOX6,IE\)O\-HVV)O\ZLQVWR
$JRXWL(\HV6,IE\$JRXWLZLQVWR
QGGDP
6:((7/< 63(& ,$/6,E\6SHFLDO(IIRUWZLQVDWDQG
ILQDOLVWLQWKH6RRQHU6WDWH6>5@ >*@'DPRIIRDOVWRUDFH520
LQFOXGLQJ±
6ZHHWO\5R\DO6,IE\5R\DO6KDNH(PZLQVWR ILQDOLVWLQ
WKH 1RUWKODQGV)XWXULW\ >*@'DPRI±
*211$0$.(<2852<$/6,ZLQVWR%\%\-6>5@ ILQDOLVWLQWKH1HZ0H[LFR +%$6WDNHV>5@ >*@
7ULFN\6KDNH6,ZLQVWR
+ROODQG6W\OH6,IE\+ROODQG(DVHZLQVWR
UGGDP
6:((7,//86,21 6,E\(DV\-HWZLQVWR 4+%&6XQ
EHOW'HUE\>5@ 4+%&0LGZHVW&ODVV LF)XWXU LW\>5@'DPRIIRDOVDOO
ZLQQHUVLQFOXGLQJ±
6ZHHW$GYLFH6,%XOO\%XOOLRQZLQVWRUG*RYHUQRU¶V
&XS+'DPRI±
%(67$'9,&(6,ZLQVWR.DQVDV'HUE\>5@ >*@QG
+HULWDJH3ODFH'HUE\ >*@/RV$ODPLWRV6UG/D]\('HUE\>5@ >*@
(DVWH[ + >*@ ILQDOLVW LQ WKH 6RRQHU 6WDWH 6 >5@ >*@ 2NODKRPD
'HUE\ >*@6LUH
7ULFN\$GYLFH6,ZLQVWR
)LUVW6PDUW$GYLFH6,:LQQHUDW
0V2SWLFDO,OOXVLRQ6,0U(\H2SHQHU:LQQHUDW'DPRI±
,OOXVLYH2NH\6,ZLQVWR
.RRO,OOXVLRQ6,ZLQVWR
WKGDP
0$<)/2:(50221E\7RS0RRQ8QUDFHG+DOIVLVWHUWR 7$//$'(*$6,
'DPRIIRDOVWRUDFH520LQFOXGLQJ±
6:((7,//86,216,(DV\-HW6WDNHVZLQQHUDERYH
(DV\)ORZHU6,(DV\-HWZLQVDW'DPRI±
5DLVH$)ORZHU6,:LQQHUDW ILQDOLVWLQWKH2NODKRPD)XWXULW\
)DOO'LYLVLRQ >*@
/XQD/DUJR6,(DV\-HW3ODFHGWR'DPRI±
7KH)LUVW*UDQGH6,ZLQVWRUG 0F'DGH6
$FFUHGLWHG2NODKRPD%UHG
5*3
+LS1R
&RQVLJQHGE\5DQFK$JHQWIRU0XOOHU5DFLQJ//&
2QH6KLQLQJ(DJOH
+LS1R
0D\6RUUHO&ROW
2QH)DP RXV(DJ OH6,
2QH6KLQLQJ(DJ OH
$7HPSWLQJ&KLFN6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
2QH)DP RXV/DG\6,
%HGXLQR6,
{ &KLFNV
2QH6OLFN&RRNLH6,
{
&KLFNV %HGXLQR6,
{ %HGXLQR7%
$&ODVV\&KLFN6,
7HPSW0H1RW6,
L EL6,
{ 6LU$O
6ZHHW 9LFW UHVV6,
%\21()$0286($*/(6,&KDPSLRQZLQV>*@
6LUHRI520VWDNHVZLQQHUVLQFO21('$6+,1*($
*/(6,ZRUOGFKDPSLRQ$OO$PHULF
DQ)XW>*@ +(65(
/(17/(666,FKDPSLRQ>*@ 0221,17+(($*/(6,
67,1.,15,&+6,%<(%<(($*/((<(6,
>*@21(+$1'620(0$1'DVKIRU&DVK>*@
VWGDP
$7HPSWLQJ&KLFN6,E\&KLFNV %HGXLQR %URRGPDUHRIWKH<HDULQ
ZLQVWRUG0LVVLRQ%HDFK60RVV/DQGLQJ6 ILQDOLVWLQWKH
*RYHUQRU¶V&XS'HUE\>5@ >*@/D 3ULPHUD'HO $QR'HUE\ >*@'DPRI
OLYLQJIRDOVRIUDFLQJDJHWRUDFH520LQFOXGLQJ±
7(037,1*'$6+6,FE\)LUVW'RZQ'DVK &KDPSLRQ<HDU2OG
&ROWZLQVLQVWDUWVDW7H[DV&ODVVLF)XWXULW\ >*@175
\LQ'DVKIRU&DVK)XW >*@175\LQ6LUH
$7(037,1*'$6+6,JE\)LUVW'RZQ'DVKZLQVWR
/RV$ODPLWRV:LQWHU'HUE\ >*@&DOLIRUQLD%UHHGHUV¶&KDPS>5@ >*@*R
0DQ*R+ >*@QG&KDPSLRQRI&KDPSLRQV >*@(O 3ULPHUR'HO $QR
'HUE\ >*@UG*ROGHQ6WDWH'HUE\ >*@*RYHUQRU¶V&XS'HUE\>5@ >*@
ILQDOLVWLQWKH/RV$ODPLWRV7ZR0LOOLRQ)XWXULW\ >*@
)LUVW7HPSWLQJ'DVK6,FE\)LUVW'RZQ'DVK:LQQHUWR
QG/RV$ODPLWRV'HUE\&KDOOHQJH
1DWDOLH'DVK6,IE\)LUVW'RZQ'DVKZLQVWR ILQDOLVWLQWKH
3&4+5$%UHHGHUV¶)XWXULW\ >*@
2FHDQ:RQ$ZD\6,JE\2FHDQ5XQDZD\ZLQVWR
$)LUVW'RZQ&KLFN6,IE\)LUVW'RZQ'DVKZLQVWR6HW
175DW+LDOHDK3DUN\LQ'DPRI±
3HUU\V6WDPLQD6,FE\0U-HVV3HUU\:LQQHULQVWDUWVDW
ILQDOLVWLQWKH5XLGRVR)XWXULW\ >*@
$7HPSWLQJ6WUDZIO\6,IE\6WUDZIO\6SHFLDOZLQVWR'DPRI±
7HPSWHGE\)DPH6,JE\,YRU\-DPHV:LQQHUDW
)O\LQ7KH:DYHV6,IE\:DYH&DUYHU:LQQHULQVWDUWVDW
6KHV$7HPSWDWLRQ6,IE\)LUVW'RZQ'DVK3ODFHGLQVWDUWVDW
QGGDP
7(0370(1276,E\6LU$OLELZLQVWR%ODFN*ROG)XWX
ULW\>5@%ODFN*ROG0DWXULW\>5@ ILQDOLVW >*@'DPRIIRDOV520LQFO±
$7HPSWLQJ&KLFN6,&KLFNV%HGXLQR6WDNHVSODFHGZLQQHUDERYH
)LUVW7HPSWDWLRQ6,IE\+ROODQG(DVH3ODFHGWR'DPRI±
&URZQV7HPSWDWLRQ6,:LQQHUWR
UGGDP
6:((7 9,&75(666,E\9LFWRU\6WULGH7%:LQQHUDW+DOIVLVWHU
WR %/86+,1* %8* 6, /<116 $//$17( 6, 0$.((0%/86+6, /HDYLQJ0HPRULHV6,
>*@ %OXVKLQJ6WUHDNHU6,'DPRI520±
7(0370(1276,6LU$OLEL6WDNHVZLQQHUDERYH
7HPSWHGE\7LWOHV6,&DVK/HJDF\ZLQVWR86$LQ0H[
LFRQG7KH4XDUWHU5DFLQJ-RXUQDO6 ILQDOLVW >*@
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
/RV$ODPLWRV7ZR0LOOLRQ)XW*ROGHQ6WDWH0LOOLRQ)XW(G%XUNH0LOOLRQ)XW
5*3
(PEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\%REE\'&R[
2XWVN\UWV
+LS1R
$SULO*UD\)LOO\
,YRU\-DPHV6,
2XWVN\UWV
3HUU\SKHU\6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
'DVKLQ)ROOLHV
F LDO6,
{ 6WUDZIO\6SH
'DVKLQJ)ROO\6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
.SD[6,
{ )LUVW'RZQ'DVK6,
5XQD ZD\'HH'HH6,
%\,925<-$0(66,6WDNHVSODFHGZLQQHURIUDFHV
%URWKHUWR 3<&3$,17<285:$*216,6LUHRI520VWDNHV
ZLQQHUVLQFO,9$1-$0(66,ZLQVDW
6DP+RXVWRQ)XW>*@),56735,=(',9(6,ZLQV%ODFN
*ROG )XW >5*@ 5$3,' ,925< 6, -% -$0(6 6, 5$:+,'(&5((.6,63(&,$/6-$0,(6,
VWGDP
3HUU\SKHU\6,E\0U-HVV3HUU\:LQQHUDWQG 74+$6LUHV¶
&XS)XWXULW\>5@ >*@UG5HWDPD)XWXULW\ >*@6LVWHUWR -(667,),$%/(
6,'DPRIIRDOVRIUDFLQJDJHWRUDFHERWKZLQQHUV±
1DGD7R 3UDGD6,IE\,YRU\-DPHV:LQQHUWR
,YRU\V,QWHUOXGH6,IE\,YRU\-DPHV:LQQHUDW
QGGDP
.3$;6,E\)LUVW'RZQ'DVKZLQVWR ILQDOLVWLQWKH$OO$PHUL
FDQ&RQJUHVV'HUE\ >*@6LVWHUWR $'2:15,*+7581$:$<6,
'DPRIIRDOVWRUDFH520LQFOXGLQJ±
-(667,),$%/(6,JE\0U-HVV3HUU\ZLQVWR +DVWD/D
9LVWD 6175 \ LQ (O 0RUR 'H &XPSDV 6175 \LQ
UG +DVWD/D9LVWD6 ILQDOLVWLQWKH5XLGRVR)XWXULW\ >*@
3HUU\SKHU\6,IE\0U-HVV3HUU\6WDNHVSODFHGZLQQHUDERYH
6DUDK 6RWD6,IE\,YRU\-DPHVZLQVWRQG:LOOLDP
³'RF´6DQGHUV6UG6RQRLWD5DQFKHUV%RQXV&KDOOHQJH6
<XUPDQ6,JE\ %LJWLPH)DYRULWH:LQQHUDWUG5XLGRVR-X
YHQLOH&KDOOHQJH >*@
$SROLWLFDO3DF6,IE\ $SROOLWLFDO-HVVZLQVWR ILQDOLVW
LQWKH+HULWDJH3ODFH)XWXULW\ >*@2NODKRPD)XWXULW\ >*@
6WUHDNLQJ0U-HVV6,JE\0U-HVV3HUU\ZLQVWR IL
QDOLVWLQWKH +REEV$PHULFD)XWXULW\ >*@
;TXL]LW6,IE\,YRU\-DPHVZLQVWR IQO:HVW7H[DV)XW >*@
UGGDP
5XQDZD\'HH'HH 6,E\5XQDZD\:LQQHUZLQVWRQG
&RORUVRIWKH:LQG6 6XQGRZQHU6>5@ ILQDOLVW >*@+DOIVLVWHUWR 2+128
','176, 02.$6626, >*@ 5HDO(DV\'HH
'HH6, ,YRU\V 'DVKLQ6, 0LVV0XUUD\$3+$6,GDPRI 0,66
683(5'((>$3+$@6, $3+$&KDPSLRQ2XWRI '$6+,1
'(('((6, >*@'DPRIVWDUWHUV520LQFOXGLQJ±
$'2:15,*+7581$:$< 6,)LUVW'RZQ'DVKZLQVWR
$OO$PHULFDQ&RQJUHVV0DWXULW\ >*@2LO&DSLWDO'HUE\'RQ%R\G6%OXH
5LYHU'HUE\>5@QG$OO$PHULFDQ&RQJUHVV'HUE\ >*@:LQG\&LW\'DVK6
>*@%UDGIRUG6,QGLDQD'RZQV&ODVVLF6HWF6HW 175
5,'',&.6,,QYLVLEOH ,QMXQZLQVWR%HQ(.HLWK6>5@ IL
QDOLVWLQWKH7H[DV&ODVVLF)XWXULW\ >*@
'RPLQ\XQ6,0U-HVV3HUU\ZLQVWRQG5XLGRVR'HUE\
>*@UG$OO$PHULFDQ)XWXULW\ >*@'DVKIRU&DVK)XWXULW\ >*@6LUH
%ULPPLQ7R3DVV6,:LQQHUWR ILQDOLVW5XLGRVR)XWXULW\ >*@
)ODVKLQ'HH'HH6,)LUVW7R)ODVK3ODFHG'DPRI %($&+5811(56,
WR %HDFK&DUWHO6,WR
(1*$*(0(176$4+$&KDOOHQJH
5*3
(PEU\RWUDQVIHU
+LS1R &RQVLJQHGE\/D]\(5DQFK//&IRU*DU\.XU]5LFKDUG.XU]6KHUL*DVWHU +LS1R
3RS'HVWLQ\
0DUFK%D\)LOO\
'HVLULR6,
3RS'HVW LQ\
(\HVD2DN7UHH3RS
{
6WUDZIO\6SHF LDO6,
F LDO(II RUW6,
{ 6SH
)O\,Q7KH3LH6,
/DG\7HQD\D6,
{ 6L[DUXQ6,
$OHWKLD6,
{
(\HVD6SHF LDO6,
{ 0U(\H2SHQHU6,
0LVV27RROH6,
2DN7UHHV3RS3RS6,
F LDO6,
{ 2DN7UHH6SH
*RWWD3RS3RS6,
%\'(6,5,26,6WDNHVZLQQHURIUDFHV$OO$PHULF
DQ
-XY>5*@+DOIEURWKHUWR&2521$)257+(/$'<6,1225',
1$5</29(6,6LUHRI520VWDNHVZLQQHUVLQFOXGLQJ
3-&+,&.,1%/$&.6,FKDPSLRQ\HDUROGILOO\ZLQV
5XLGRVR)XW>*@'(1,526,/RV$ODPLWRV6XSHU'HUE\
>*@ .$52/,1$ 6, (O 'DPD]R 6, >*@
VWGDP
(<(6$2$.75((323E\(\HVD6SHFLDO8QSODFHG'DPRIIRDORIUDFLQJ
DJHDQXQVWDUWHG\HDUROG
QGGDP
2$.75((63233236,E\2DN7UHH6SHFLDOZLQVLQVWDUWVDW
TXDOLILHG WR74+$6DOH)XW>5@ >*@'DPRIRWKHUIRDOVWRUDFHZLQQHUV±
&$57(/6323323 6,FE\7KH/RXLVLDQD&DUWHOZLQVDW
74+$6DOH)XWXULW\>5@ >*@
3DQWKHUV3RS3RS6,JE\3DQWKHU0RXQWDLQZLQVWR
UGGDP
*RWWD3RS3RS6,E\%REE\4XHZLQVLQVWDUWVDWQG
7H[DV3RRU%R\6SULQW)XWXULW\>5@6HW175\LQ'DPRI
IRDOVWRUDFHZLQQHUVLQFOXGLQJ±
-2',(63233236,-RG\27RROHZLQVWR0DQRU
'HUE\ >*@ (DVW &KDPS &KDOOHQJH >*@175 $ODPR 4+%$ 'HUE\
'DY\&URFNHWW6%OXHERQQHW+>5@QG0DQRU+,6SHHGKRUVH6SULQW
)XWXULW\>5@UG*UDKDP)DUPV'HUE\ >*@ ILQDOLVW >*@
5$1'<63233236,'DVK%\)RU5DQG\ZLQVWR
74+$6DOHV)XWXULW\>5@ >*@74+$7H[DV%UHG6>5@QG%DUQPDVWHU
6SULQW6>5@ >*@UG0DQRU'RZQV+%DUQ0DVWHU+>5@ ILQDOLVW >*@
*277$63(&,$/3236,6SHFLDO(ODQZLQVWR74+$
6LUHV¶&XS)XWXULW\>5@ >*@QG0H[LFR&KDPS&KDOOHQJH$PHULFDQ
)RXQGDWLRQ6UG&RPDO&RXQW\6 ILQDOLVW >*@'DPRI±
6+$.((063(&,$/3236,ZLQVWR)DLUPRXQW3DUN
,QY(YDQJHOLQH'RZQV'HUE\,NRQ6>5@QG:UDQJOHU6+LOO&RXQ
WU\'DVK ILQDOLVWLQWKH7H[DV&ODVVLF)XWXULW\ >*@
-RG\V6SHFLDO3RS6,:LQQHUWR'DPRI 92/&20663(&,$/
3236,:LQQHUWR:HVW7H[DV-XYHQLOH,QY
-2'<3236/,77/(6,66,-RG\27RROHZLQVWR'L[LH
6WDOOLRQ)XWXULW\>5@ >*@UG0DQRU'RZQV'HUE\ >*@'DPRI -2'<
3236=220(56,7H[DV&ODVVLF'HUE\ >*@VHW175
*RWWD0RQH\3RS6,:LQQHUDW'DPRI±
-2'<6021(<323 6,ZLQVWR74+$6DOH)XWXULW\>5@
>*@7H[DV'HUE\&KOJ >*@QG7H[DV7ZLVWHU6>5@UG:HVW7H[DV
)XW >*@'HUE\&KOJ&KDPS >*@6XQODQG:LQWHU'HUE\ >*@6LUH
*2/6+21(<021(<3236,ZLQVWR6DP+RXVWRQ-X
YHQLOH&KDOOHQJH >*@ ILQDOLVW74+$6DOH)XW>5@ >*@
6KDNH(P0RQH\3RS6,ZLQVWRQG5XLGRVR)XWXULW\
>*@:HVW7H[DV)XWXULW\ >*@
(DJOH0RQH\3RS6,:LQQHUWRUG6DP+RXVWRQ'HUE\&KOJ
9LFWRU\V3RS3RS6,ZLQV'DPRI *2/69,&725<3236,
IQO$OO$PHULFDQ)XW >*@ -RG\V9LFWRU\3RS6,
5*3
$FFUHGLWHG2NODKRPD%UHG
+LS1R
&RQVLJQHGE\ *HR+%XGG\ 6XWKHUV
+LS1R
5R\DO6HQDWRU
{
-HVV/RXLV LD QD%OXH6,
{ 0U-HVV3HUU\6,
7KH/RXLV LD QD*LUO6,
&RU RQD3HUI HFW LRQ6,
U RQD&DUW HO6,
{ &R
6XS HU LRU3HUI HFW LRQ6,
{
5R\DO6KDNH(P6,
{ 5R\DO4XLFN'DVK6,
6KDNH(P6L[6,
6ZHHWO\6SHF LDO6,
F LDO(II RUW6,
{ 6SH
6ZHHW,OOXV LRQ6,
)HEUXDU\%D\&ROW
/RXLV LD QD6HQD W RU6,
5R\DO6HQD W RU
6ZHHWO\5R\DO6,
%\/28,6
,$1$6(1$7256,6WDNHVZLQQHURIUDFHV
>*@+LVILUVWIRDOVDUH\HDUROGVRI6LUHRI7LPH)RU7KH6HQDWRU6,
ZLQQHUUG +DUUDK¶V(QWHUWDLQPHQW)XW>*@,1R 6KHV$+RW
0HVV 6, ZLQQHU UG 5XLGRVR -XY ,QY 6HQDWRU 7DPDOH
UG&KHURN
HH1DWLRQ66RQRI-(66/28,6
,$1$%/8(VLUHRI
VWDNHVZLQQHUVLQFOXGLQJ -(66$/28,6
,$1$=220>*@
VWGDP
6:((7/<52<$/6,E\5R\DO6KDNH(PZLQVWR ILQDOLVWLQ
WKH 1RUWKODQGV)XWXULW\ >*@'DPRIIRDOVRIUDFLQJDJHIRDOVWRUDFH
DOO520LQFOXGLQJ±
*211$0$.(<2852<$/6,FE\ *RQDPDNH\RXUH\HVEOXHZLQV
WR%\%\--6>5@ ILQDOLVWLQWKH 10+%$6WDNHV>5@ >*@
7ULFN\6KDNH6,JE\)DYRULWH7ULFN7%ZLQVWR
5R\DO5HDVRQ6$6,JE\*RRG5HDVRQ6$3ODFHGLQVWDUWVDW
QGGDP
6:((7/<63(&,$/6,E\6SHFLDO(IIRUWZLQVWR ILQDOLVWLQ
WKH6RRQHU6WDWH6>5@ >*@'DPRIIRDOVWRUDFH520LQFOXGLQJ±
+ROODQG6W\OH6,IE\+ROODQG(DVHZLQVWR
(\H/RYH,W6,IE\0U(\H2SHQHUZLQVWR'DPRI±
&RSSHU2DNV6,ZLQVWR ILQDOLVWLQWKH5HPLQJWRQ
3DUN2NODKRPD%UHG'HUE\>5@ >*@%ODFN*ROG)XWXULW\ >*@
-HVVLOX6,ZLQVWR
$JRXWL(\HV6,ZLQVDW
+DVKWDJJE\&KLFNV5HJDUG:LQQHULQVWDUWVDW
5R\DOW\)LUVW6,FE\5R\DO4XLFN'DVK:LQQHUDW ILQDOLVWLQWKH
0DQRU'RZQV)XWXULW\ >*@
UGGDP
6:((7,//86,216,E\(DV\-HWZLQVWR 4+%&6XQEHOW
'HUE\>5@ 4+%&0LGZHVW)XWXULW\>5@'DPRIIRDOVDOOZLQQHUVLQFO±
6ZHHW$GYLFH6,%XOO\%XOOLRQZLQVWRUG*RYHUQRU¶V
&XS+'DPRI±
%(67$'9,&(6,ZLQVWR.DQVDV'HUE\>5@ >*@QG
+HULWDJH3ODFH'HUE\ >*@/RV$ODPLWRV6UG/D]\('HUE\>5@ >*@
(DVWH[+ >*@6LUH
7ULFN\$GYLFH6,ZLQVWR
0V2SWLFDO,OOXVLRQ6,0U(\H2SHQHU:LQQHUDW'DPRI±
,OOXVLYH2NH\6,ZLQVWR
)DLWK0RXQWDLQ6,ZLQVDW
WKGDP
0$<)/2:(50221E\7RS0RRQ8QUDFHG+DOIVLVWHUWR 7$//$'(*$6,
'DPRIIRDOVWRUDFH520LQFOXGLQJ±
6:((7,//86,216,(DV\-HW6WDNHVZLQQHUDERYH
(DV\)ORZHU6,(DV\-HWZLQVDW
/XQD/DUJR6,(DV\-HW3ODFHGWR'DPRI±
7KH)LUVW*UDQGH6,ZLQVWRUG 0FGDGH6
(1*$*(0(176$4+$&KDOOHQJH
5*3
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
+LS1R
+LS1R
&RQVLJQHGE\-/&+RUVHV$JHQW
1DPH3HQGLQJ
)HEUXDU\&KHVWQXW)LOO\
O DQG(DVH6,
&RU RQD&DUW HO6,
{ +RO
&RU RQD&KLFN6,
&DUW HO6XFF HVV6,
1DPH3HQGL QJ
6ZHHW$WW UDFW LRQ7%
{
{
'DVKLQJ0DULDK6,
{ )LUVW'RZQ'DVK6,
.HOO\V&RII HU6,
0HUF HU0LOO
{ )RUW\1LQHU
6HDV LGH$WW UDFW LRQ
6DOPRQ'RWWLH
{ +RQH\-D\
7DKLFKH
%\&$57(/68&&(666,6WDNHVZLQQHU>*@%URWKHU
WR0,66&$57(/668&&(666,6LUHRI520LQFO&50
/,9(:,,5(36,SDLQWZRUOGFKDPSLRQ6SHHGKRUVH3DLQW
$SS'HUE\>*@6/(:2)68&&(666,ZLQV6RRQHU
6WDWH6>5*@'$/76*81,1)2568&&(666,%3&$5
7(/6 32/,&< 6, 68&&(66)8/ '$6+ 6, VWGDP
6:((7$775$&7,217%E\0HUFHU0LOOZLQVWR'DPRIWKRU
RXJKEUHGIRDOVRIUDFLQJDJHWRUDFHLQFOXGLQJ±
&DFWXV3DUN7%IE\&DFWXV5LGJHZLQVWR
QGGDP
6$/021'277,(E\+RQH\-D\ZLQVWR'DPRIIRDOVDOO
ZLQQHUVLQFOXGLQJ±
&$7&+0<&$7JE\1REOH&DWZLQVWR&OHYHODQG.LQGHU
JDUWHQ6>5@0LNH5RZODQG0HPRULDO+>5@QG(GZDUG%DEVW0HPRULDO
+>5@/R\DOW\6>5@2KLR)UHVKPDQ6>5@
6HHNLQJ7KH+RQH\IE\*ROG0DUNHWZLQVWR
3ROLVK+RQH\IE\:HVWHUQ&DWZLQVWR'DPRI±
2PULFRQZLQVWR
UGGDP
7$+,&+(E\7RSVLGHU:LQQHUDWLQ(QJODQG+DOIVLVWHUWR 35,1&('$1
,(/ 526$/,(¶6&+$50RXWRI 6833(56+2:
'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
3257(1780)DVW*ROGZLQVWR%HVWRI2KLR-XYHQLOH
&KDPS,QY+>/5@%XFNH\H+>5@2KLR*UDGXDWH6>5@4XLFN6WHS+
>5@QG%XFNH\H+>5@*HRUJH/HZLV0HPRULDO+>5@:HVWHUQ5HVHUYH
+>5@%XFNH\H+>5@2KLR+DUYHVW+>5@UG%HVWRI2KLR6SULQW&KDPS
6>5@*UHDW/DNHV+(GZDUG%DEVW0HPRULDO+>5@
7RNLR7DKLFKH:LOG$JDLQZLQVWR86$LQ-DSDQ'DPRI±
/$1=$527(>-31@ZLQVWR86$LQ-DSDQ3URF\RQ6
>*@QG6XPPHU&KDPSLRQUG(QLI6
0DUTXHVDV>-31@ZLQVWR86$LQ-DSDQ
+DJLQR3UHFLRXV>-31@ZLQVDWDQG86$LQ-DSDQ
6NDUD%UDH>-31@ZLQVWR86$LQ-DSDQ
*OHDVRQ/RPRQGZLQVWR'DPRI±
%DE\XUWKHJUHDWHVWZLQVWR'DPRI±
&/867(52)67$56ZLQVLQVWDUWVDWDQG*DOODQW
%ORRP+ >*@'LVWDII+ >*@&RUUHFWLRQ6,URTXRLV6>5@
%XGG\5HGZLQVWR
*HQWOH-LP3ODFHGWR
µ7LO6SULQJ2XU1DWLYH8QSODFHG'DPRI±
6XPPHU&KDUPZLQVWR
$SSOH&UXPEOHZLQVWR
8QFOH%HQRZLQVWR
$FFUHGLWHG.HQWXFN\%UHG
5*3
+LS1R
&RQVLJQHGE\9LFWRU\)DUPV
9)$5R\DO'HDO
+LS1R
-DQXDU\%D\)LOO\
-&:LOOV6,
9)$5R\DO'HDO
5R\DO/RJR6,
{
'HDOV$'HDO6,
{ 6WUHDNLQ6L[6,
'DVK/LNH/LJKWQ LQJ6,
%HGXLQRV&KLFN-HW6,
{ 5RFN(P6PRRWK6,
7LQWDV&KLFN
{
6SHF LDO&URZQ5R\DO6,
{ &KLFNV%HGXLQR6,
6LJQ7KH'DVK6,
:LFNHG%XVLQ HVV6,
O DQG(DVH6,
{ +RO
)LQLVKHG%XVLQ HVV6,
%\-&:,//66,6WDNHVSODFHGZLQQHURIUDFHVQG
2NOD%UHG)XW>5@IQO.DQVDV-DFNSRW)XW>5*@2.+RUVHPHQ¶V'HUE\
>5*@+DOIEURWKHUWR&+,&.660$57021(<6,6LUHRIVWDUWHUV
520LQFOXGLQJ3HJDVRV:LOOLQJ6,ZLQV&KDPSDQH/DG\
([SUHV 6, ZLQQHU -& 7ERQH 6, ZLQQHU 6RQ RI VWDNHV ZLQQHU
'($/6$'($/6,VLUHRI:+((/(11'($/(1'+'6,
VWGDP
52<$//2*26,E\6SHFLDO&URZQ5R\DO:LQQHUDW'DPRI
IRDORIUDFLQJDJH±
5R\DO3UL]H/RJRIE\)LUVW3UL]H6WDQOH\3ODFHGWR
QGGDP
:,&.('%86,1(666,E\+ROODQG(DVH:LQQHUDW'DPRI
IRDOVWRUDFH520LQFOXGLQJ±
%LJ%XVLQHVV)LUVW6,JE\)LUVW7R6KLQHZLQVWR
UGGDP
),1,6+('%86,1(666,E\6WUHDNLQ6L[:LQQHUDW'DPRIIRDOVWR
UDFHDOOZLQQHUVLQFOXGLQJ±
%86,1(667<&2216,0DNH,W$Q\ZKHUHZLQVWR
&DQDGD&KDPS&KDOOHQJH ILQDOLVWLQWKH/D]\()XWXULW\>5@ >*@&HQWUDO
'HUE\&KDOOHQJH >*@
%XVLQHVV6SULQW6,'DVKLQ&KLFRZLQVWRUG.DQVDV
-DFNSRW)XWXULW\>5@ >*@ ILQDOLVWLQWKH9DOOH\-XQFWLRQ)XWXULW\ >*@
1HZ%XVLQHVV6,$SROOR7%ZLQVWR ILQDOLVW >*@
WKGDP
6:((7163(&,$/ 6,E\6SHFLDO(IIRUW &KDPSLRQ<HDU2OG)LOO\
ZLQVLQVWDUWVWR6XQODQG)DOO'HUE\ >*@6XEDVWD&ODVVLF
QG5DLQERZ'HUE\ >*@.DQVDV'HUE\ >*@%XWWRQVDQG%RZV6UG5DLQ
ERZ6LOYHU&XS >*@2XWRI 6:((7.$75,1$6,'DPRIZLQQHUV±
127)25/21*6,)LUVW'RZQ'DVKZLQVWR*ROGHQ
6WDWH'HUE\ >*@*RYHUQRU¶V&XS'HUE\>5@ >*@
<RXFDQKHDUPHQRZ6,)LVKHUV'DVKZLQVWR ILQDOLVWLQWKH
&HQWUDO'HUE\&KDOOHQJH >*@'DPRI 37)HDWXUH'DVK6,
6ZHHWDV&DVK6,ZLQVWR ILQDOLVW5XLGRVR'E\ >*@'DPRI±
121($6($6< 6,ZLQVWR9DOOH\-XQFWLRQ)XWXULW\ >*@
&HQWUDO-XY&KOJ >*@&HQWUDO'LVWDII&KOJ >*@0LVV%ODFNKDZN6175
0LVV%ODFNKDZN63RQ\([SUHVV6:RRGODQGV&KDPS6QG/D]\(
)XWXULW\>5@ >*@5HG(DUWK6UG-XYHQLOH&KOJ&KDPS >*@'DPRI±
%(/,(9(56*$7+(5,1*6,ZLQVWR,RZD'RXEOH
*ROG'HUE\>5@ >*@3UDLULH0HDGRZV'LVWDII&KOJ&KDUOLH&ODERUQ
0HPRULDO6QG$4+$'LVWDII&KOJ&KDPS >*@HWF
=RRPLQ)RU(DVH6,3ODFHGDWQG+LSRGURPR-XYHQLOH&KOJ
1XPEHU 2QH &DUWHO 6, :LQQHU WR ILQDOLVW LQ WKH /RV
$ODPLWRV7ZR0LOOLRQ)XWXULW\ >*@
=RRPLQ([SUHVV6,ZLQVWRUG6XQODQG&KDPS&KOJ
>*@:HVW7H[DV0DWXULW\ >*@
&DUWHO&DOLHQWH 6,ZLQVWRUG5HPLQJWRQ'HUE\ >*@.DQ
VDV'HUE\>5@ >*@ TXDOLILHGWR5DLQERZ'HUE\ >*@6XSUHPH&KDPSLRQ
+DXOLQ7KXQGHU6,ZLQVWR
5*3
$FFUHGLWHG2NODKRPD%UHG
+LS1R
&RQVLJQHGE\-XVWLQ 'XYDO
6FHQWRIDZRPDQ
+LS1R
)HEUXDU\6RUUHO)LOO\
9DOLDQW+HUR6,
6FHQWRIDZRPDQ
3HUIHFWHVW*LUO6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
&RU RQD&KLFN6,
%HGXLQR6,
{ &KLFNV
6L]] OLQJ/LO6,
{
0HW HU0H*RQH6,
Q DW XUH6,
{ 7KH6LJ
/DG\0HW HU5HDGHU
:LOOLH &DWILVKHU6,
{ +HDY\:HLJKW6,
3RZHU6ZLYHO6,
%\ 9$/,$17 +(52 6, 6WDNHV ZLQQHU RI UDFHV LQ VWDUWV
>*@6LUHRIVWDNHVZLQQHUVLQFOXGLQJ)($785(
+(526,FKDPSLRQ\HDUROG$OO$PHULF
DQ'HUE\>*@
+28',1,6,5DLQERZ'>*@0,*+7<%9$/,$176,
9$/,$17/,//$'<6,>*@),5679$/,$176,*1
6,>*@6DP&URZ6,>*@21(9$/,$17+(52
VWGDP
3(5)(&7(67*,5/6,E\0HWHU0H*RQHZLQVWR.DQVDV
%UHG)XWXULW\>5@ >*@.DQVDV%UHG'HUE\>5@UG.DQVDV-DFNSRW3UHS
'HUE\>5@ ILQDOLVWLQWKH.DQVDV)XWXULW\ >*@'DPRIIRDOVRIUDFLQJDJH
LQFOXGLQJDQXQVWDUWHG\HDUROGWRUDFHZLQQHUVLQFOXGLQJ±
%ULP$QG3URSHU*LUO6,IE\ %ULPPHUWRQZLQVWRUG.DQ
VDV%UHG)XWXULW\>5@ ILQDOLVWLQWKH.DQVDV-DFNSRW)XWXULW\>5@ >*@
6WUXWWLQ7R7KH%HDW6,JE\ 6WUXWWLQ7R %HGXLQRZLQVWR IL
QDOLVWLQWKH.DQVDV-DFNSRW'HUE\>5@ >*@
3HUIHFWHVW%R\6,JE\0DNH,W$Q\ZKHUH:LQQHUWR ILQDOLVW
LQWKH.DQVDV)XWXULW\ >*@.DQVDV-DFNSRW)XWXULW\>5@ >*@
6KD]QDVW\6, I E\ 6KD]RRP:LQQHU WR ILQDOLVW .DQVDV
-DFNSRW)XWXULW\ >*@6HW 175DW:LOO5RJHUV'RZQV\LQ
QGGDP
:,//,( &$7),6+(56,E\+HDY\:HLJKWZLQVWR.DQVDV
-DFNSRW'HUE\>5@UG )OLQWKLOOV'HUE\ ILQDOLVWLQWKH 1(.4+$'HUE\ >*@
2XWRI 3RZHU6ZLYHO6,'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
:,//,(&$//0(6,IE\&DO\[ZLQVWR.DQVDV-DFN
SRW)XWXULW\>5@ >*@.DQVDV%UHG)XWXULW\>5@ >*@&HQWUDO'HUE\&KDO
OHQJH >*@ 0DULSRVD 6 6SHFLDO (IIRUW 6 QG 3DXO % )RUG 0HPRULDO
+QG'LY3RQ\([SUHVV6UG'HUE\&KDOOHQJH&KDPS >*@'DPRI±
&$//0($ %/$=1&+,&6,ZLQVWR=LD)XWXULW\>5@
>*@1HZ0H[LFR&ODVVLF)XWXULW\>5@ >*@3HOLFDQ6>5@ >*@1HZ
0H[LFR )LOOLHV DQG 0DUHV &KDPS 6 >5@ QG 6XQEXUVW 6 >5@ UG
7RPP\³'XNH´6PLWK+>5@ >*@ ILQDOLVW>5@ >*@
0$.,1:,//,(66,ZLQVWR0DQXHO /XMDQ+>5@ >*@
QG:HVW7H[DV-XYHQLOH,QY>5@ >*@ ILQDOLVW5HWDPD'HUE\ >*@
&DOO,W$Q\ZKHUH6,ZLQVWRUG:HVW7H[DV'HUE\ >*@
+LJKHDVWHUMHW+ >*@ ILQDOLVWLQWKH5XLGRVR'HUE\ >*@6HW 175DW
6XQODQG3DUN\LQ
/LOL&DOO0H6,ZLQVWRUG2FHDQVLGH+'DPRI±
8FDOOLW6,ZLQVQG/D3ODWD6 >*@
$OOXUH6U6,ZLQVLQVWDUWVWRUG6HOPD66HW 175DW
/RQH6WDU3DUN\LQ
6KRW&DOOHU6,ZLQVLQVWDUWVDWQG6RXWK9DOOH\)XWXULW\
&DOO0\+HUR6,ZLQVWR6HW 175\
*UH\(PEHUV6,ZLQVWR ILQDOLVW >*@
&DOO0H6L[HV6,:LQQHUUG5HWDPD'HUE\ >*@
3(5)(&7(67*,5/6,IE\0HWHU0H*RQH6WDNHVZLQQHUDERYH
7DNH7KH&DVK:LOOLH6,IE\ 7DNLQ2Q7KH&DVKZLQVWR
ILQDOLVWLQWKH.DQVDV-DFNSRW)XWXULW\>5@ >*@'DPRI 63(&,$/:,//,(
6, +DXOLQJ7KH&DVK6,
(1*$*(0(176$4+$&KDOOHQJH
5*3
+LS1R
&RQVLJQHGE\6(3UHSSLQJ$JHQW
%H\RQGDEOXH
+LS1R
)HEUXDU\%URZQ&ROW
-HVV/RXLV LD QD%OXH6,
%H\RQGDEOXH
%H\RQGWKHJDPH6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
7KH/RXLV LD QD*LUO6,
L V LD QD6OHZ7%
{ /RX
/LWW OH%OXH6KHHS6,
{
*DPH3DW ULRW6,
%HGXLQR6,
{ &KLFNV
)LUH$QG1LFH6,
%H\ RQG7KH6SHFW UXP6,
O HVV'DVK6,
{ 5HFN
%H\ RQG6SHF LDO
%\-(66/28,6
,$1$%/8(6,&KDPSLRQ(DVW &KOJ
>*@1756LUHRI520VWDNHVZLQQHUVLQFO/28,6
,
$1$6(1$7256,ZLQV/HR6>*@ -(66$/28,6
,$1$
=220 6, ZLQV /$ %UHG )XW >*@ %/8( /28,6
,$1$
-2//$6,>5*@-(66$5811(56,>*@
32/,7,&
$/237,216, %5$'<60$5&+0$'1(666,
VWGDP
%(<21'7+(*$0(6,E\*DPH3DWULRWZLQVLQVWDUWVDW
/RXLVLDQD%UHHGHUV¶/DVVLH)XWXULW\>5@ >*@UG/HH%HUZLFN)XWXULW\>5@
>*@'DPRIIRDOVRIUDFLQJDJHIRXU\HDUROGVDOOVWDUWHGZLQQHUV
LQFOXGLQJ±
+H]DIDVWJDPH6,JE\ +H]D)DVW'DVKZLQVWRUG
/4+%$6DOH,QY6>5@ ILQDOLVWLQWKH/HH%HUZLFN)XWXULW\>5@ >*@
%H\RQGWKHSUL]H6,JE\)DVW3UL]H'DVKZLQVWR
6HYHQ3RLQW7KUHH6,JE\ +H]D)DVW'DVK:LQQHUWR
%H\RQGWKHFKLF6,JE\ -XPSQ&KLFZLQVWR
%H\RQGWKHJDPHZDJRQIE\ 3<&3DLQW<RXU:DJRQ:LQQHULQVWDUWDW
%H\RQGLYRU\6,IE\,YRU\-DPHV:LQQHUDW
%H\RQGWKHLOOXVLRQIE\)LUVW'RZQ,OOXVLRQ:LQQHUDW
QGGDP
%(<21'7+(63(&75806,E\5HFNOHVV'DVK:LQQHUDW'DPRI
IRDOVWRUDFHDOO520LQFOXGLQJ±
%(<21'7+(*$0(6,IE\*DPH3DWULRW6WDNHVZLQQHUDERYH
%H\RQGV&DUROLQD6,IE\ +H]-XVW$ -LJJROR:LQQHUWR ILQDO
LVWLQWKH +DUUDK¶V(QWHUWDLQPHQW)XWXULW\ >*@)LUHFUDFNHU)XWXULW\ >*@
%H\RQGWKHIO\6,JE\)O\-HVV)O\ZLQVWR
%H\RQGWKHSDWULRW6,JE\*DPH3DWULRWZLQVWR
%H\RQGHUMHVV6,JE\%XLOW-HVVHZLQVWR
UGGDP
%(<21'63(&,$/E\6SHFLDO/HDGHU8QUDFHG'DPRIIRDOVWRUDFH
520LQFOXGLQJ±
7K 6SHFLDO &KLYDWR 6, 'DVK 7R &KLYDWR ZLQV WR QG
4XLFNVLOYHU6>5@ ILQDOLVWLQWKH *&)$)XWXULW\ >*@
WKGDP
+($9(1/<6,E\3LH,Q7KH6N\ &KDPSLRQ$JHG0DUHZLQVLQ
VWDUWVWR$OO$PHULFDQ'HUE\ >*@5DLQERZ)XWXULW\ >*@
$OO$PHULFDQ*ROG&XS >*@5DLQERZ6LOYHU&XS >*@%XWWRQVDQG%RZV
6*R7RJHWKHU6QG.DQVDV'HUE\ >*@1HZ0H[LFR6WDWH)DLU+
>*@ 3RFDKRQWDV + >*@ %RRPHU 6RRQHU 3UHS )XWXULW\ ILQDOLVW LQ WKH
&KDPSLRQRI&KDPSLRQV >*@6LVWHUWR +H]D 3LH'DQFHU6,
+HDYHQV*ROG6,KDOIVLVWHUWR +HDYHQO\6PDVK6,
'DPRIIRDOVWRUDFHDOO520LQFOXGLQJ±
6.<:$56,(DVLO\6PDVKHG &KDPSLRQ<HDU2OG&ROWLQ0H[LFR
ZLQVLQVWDUWVWR7KH4XDUWHU5DFLQJ-RXUQDO6
+HDYHQO\(IIRUW6,6SHFLDO(IIRUW3ODFHGWR*UDQGGDPRI 7+(
*$0(&$57(/6,>5@ >*@ *DEULHOV7KXQGHU6,
ZLQV ILQDOLVW/RV$ODPLWRV0LOOLRQ)XWXULW\ >*@
5*3
(PEU\RWUDQVIHU
+LS1R
+LS1R
&RQVLJQHGE\/HRQ7XFNHU
%RUQ9DOLDQW
$SULO6RUUHO&ROW
0LJKW\%9DOLDQW6,
%RUQ9DOL DQW
6KH:DV%RUQ7R5XQ
{
9DOLDQW+HUR6,
{ )LUVW'RZQ'DVK6,
&RU RQD&KLFN6,
0LJKW\%'ROO6,
{ 2Q$+LJK6,
0LJKW\*LUO*R
{
)LVKHUV'DVK6,
{ )LUVW'RZQ'DVK6,
)LVKHUV)DY RULWH6,
%&53DOH0RRQ6,
G RP.H\6,
{ .LQJ
0LVV0RRQ3ROLF\6,
%\0,*+7<%9$/,$176,6WDNHVZLQQHURIUDFHV
2NOD%UHG)XW>5@QG+HULW DJH3ODFH)XW>*@ IQO5DLQERZ)XW>*@
%URWKHUWR*/25<5,'(56,KDOIEURWKHUWR0,*+7< ,19,&7866,
0,*+7< 2%6&(66,216,+LVILUVWIRDOVDUH\HDUOLQJVRI6RQRI
9$/,$17 +(526, VLUH RI VWDNHVZLQQHUV LQFOXGLQJ )($785(
+(526,FKDPSLRQ>*@ +28',1,6,>*@
VWGDP
6+(:$6%25172581E\)LVKHUV'DVK8QSODFHG'DPRIIRDOVRIUDF
LQJDJHWRUDFHDOO520LQFOXGLQJ±
2]RPDWOL6,JE\7UHV 6HLV:LQQHUWR
QGGDP
%&53$/(02216,E\.LQJGRP.H\ZLQVWR6LOYHU'ROODU
)XWXULW\>5@ >*@,GDKR 4+%$)XWXULW\>5@UG,GDKR 4+%$'HUE\>5@'DP
RIIRDOVWRUDFH520LQFOXGLQJ±
/,77/( %,7 2) %$-$ 6, J E\ )LUVW 'RZQ 'DVK &KDPSLRQ
<HDU2OG*HOGLQJZLQVWR/RV$ODPLWRV6XSHU'HUE\
>*@&HQWUDO&KDPS&KDOOHQJH >*@=:D\QH*ULIILQ'LUHFWRU¶V6175
\LQQG&KDPSLRQRI&KDPSLRQV >*@WZLFH$4+$&KDO
OHQJH&KDPS >*@UG7KH&KDPS$W 6XQODQG >*@*R0DQ*R+ >*@
%&5 67(//$/81$6,IE\'DVK7D)DPHZLQVWR 4+%&
1RUWKZHVW&ODVVLF'HUE\>5@ ILQDOLVW>5@ >*@'DPRI±
%&5 )/<,1%$<286,ZLQVWR $QLPDV6QG,GDKR
&XS)XWXULW\>5@UG 6XQODQG3DUN:LQWHU)XWXULW\ >*@
%&5/XQDU(FOLSVH6,ZLQVWRUG,GDKR&XS)XWXULW\>5@
0U %DF6SODVK6,6SODVK %DFZLQVUG 504+$&K>5@
0LVW\0RRQOLJKWHU6,JE\6WUHDNLQ-HZHOZLQVWRUG
,GDKR&XS0DWXULW\>5@ ILQDOLVWLQWKH,GDKR&XS'HUE\>5@ >*@
)HDWXUH0LVV-HVVH6,IE\)HDWXUH0U-HVVZLQVWR ILQDOLVW
/XFLOOH5RZH'HUE\>5@ >*@/D0DULSRVD+ >*@%XWWRQVDQG%RZV6 >*@
%&5)LUVW(FOLSVH6,JE\ 0XUUWKHEOXUU7%ZLQVWR ILQDOLVWLQ
WKH1RUWKZHVW-XYHQLOH&KDOOHQJH >*@,GDKR&XS'HUE\>5@ >*@
UGGDP
0,66022132/,&<6,E\5HE¶V3ROLF\7%ZLQV'DPRIZLQQHUV±
05022132/,&<6,2Q$+LJKZLQVWR-XDUH]+
>*@0DVWHU 6DOOV6QG6SHFLDO+DQN+ >*@-XDUH]+ >*@ 6XQODQG
,QY66XQUD\3DUN0DUDWKRQ6)LQH/RRP+WZLFHHWF
%&53$/(02216,.LQJGRP.H\6WDNHVZLQQHUDERYH
60$5732/,&<6,2Q$+LJKZLQVWR(DV\-HW6QG
7ULQLW\0HDGRZV'HUE\ >*@'HFDWXU6UG$QGUHZ-DFNVRQ+>5@ ILQDO
LVWLQWKH 6SHHGKRUVH'HUE\>5@ >*@
%&50,67<02216,0XUUWKHEOXUU7%ZLQVWR+HOHQD
/DVW&KDQFH%UHHGHUV)XWXULW\>5@QG+LJK&RXQWU\)XWXULW\>5@UG+HO
HQD/DVW&KDQFH)DOO)XWXULW\'DPRI 0LVW\V4XLFN0RRQ6, 0RRQV
&ODVVLF'DVK6, %OXUULQH6XQULVH6,
5LJLG 3ROLF\ 6, :UDQJOHUV 5LGJH ZLQV WR QG
5HPLQJWRQ'LVWDQFH+ >*@-LP7KRUSH6 3DXOV9DOOH\6HWF
7KDWV2XU3ROLF\6,-HWDPLDK-RQHVZLQVWR*UDQGGDPRI
),71(66/$'<6, >*@
5*3
+LS1R
&RQVLJQHGE\6WXDUW6WUHELJ
-HVV.RRO/DG\
+LS1R
$SULO%D\)LOO\
$SROOLWLFDO-HVV6,
-HVV.RRO/DG\
5XVW\V.RRO/DG\
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
$SROOLWLFDO7LPH6,
{ $SROOR7%
+DOI7LPH$WW UDFW LRQ6,
{
)LUVW1.RRO6,
{ )LUVW'RZQ'DVK6,
.RRO.XH%DE\6,
%HGXLQRV5XVW\6,
{ &KLFNV%HGXLQR6,
/LO%LW5XVW\6,
%\$32//,7,&$/-(666,:RUOGFKDPSLRQFKDPSLRQ\HDU
ROGFKDPSLRQ\HDUROGFROW/RV$O6XSHU'HUE\>*@175
&KDPSRI&KDPS>*@175+LVILUVWIRDOVDUH\HDUROGVRIVLUHRI
520 VWDNHV ZLQQHUV LQFO $-6 +,*+ 6, ZLQV
$4+$-XY&KOJ&KDPS>*@32/,7,&$/<&255(&76,
'DVKIRU&DVK>*@$SROOLWLFDO%ORRG6,QG>*@
VWGDP
5867<6.22//$'<E\)LUVW1.RRO8QUDFHG'DPRIIRDORIUDFLQJDJH
DQXQVWDUWHG\HDUROG
QGGDP
%('8,1265867<6,E\&KLFNV%HGXLQRZLQVLQVWDUWVDW
6DP+RXVWRQ)XWXULW\ >*@6LVWHUWR :+26/($9,1*:+26,:RUOG
&KDPSLRQ >*@KDOIVLVWHUWR &2521$6/($9,1*<286,
ZLQV LQ VWDUWV >*@ :+2/(/27$ '$6+ 6, >*@ :D\'RZQ7RZQ6,'DPRIVWDUWHUV520LQFO±
+(6$/,/%,7+,*+6,JE\2Q$+LJKZLQVWR%)3KLO
OLSV-U+>5@ >*@/LYH2DN+>5@QG0DQRU'RZQV0DWXULW\ >*@
%DUQPDVWHU6SULQW6>5@ >*@+HDUWEHDWRI$PHULFD+>5@ >*@HWF
5867<648,&.,'6,IE\5R\DO4XLFN'DVKZLQVWR&\
SUHVV6QG%HOOIORZHU6UG3ULVV\)HLQ6 ILQDOLVW >*@'DPRI±
48,&.,'&2521$6,ZLQVWR%RE0RRUH0HPRULDO6
>*@175 \ LQ %DUQPDVWHU 6SULQW 6 >5@ >*@ UG
2NODKRPD'HUE\ >*@/RYLQJWRQ+ >*@+LJKHDVWHUMHW+ >*@HWF
-(66$/,77/(5867<6,ZLQVWR$4+$'LVWDQFH&KDO
OHQJH&KDPS6 >*@%HQQ\3HQQLQJWRQ0HPRULDO6HWF
0$(6752 &2521$ 6, ZLQV WR 86$ LQ 0H[LFR
&ODVLFR(DVLO\D3RVVXPQG+LSRGURPR'HUE\&KDOOHQJHHWF
3DLQW0H4XLFNLG6,ZLQVWRQG5HWDPD3DUN'HUE\
>*@ ILQDOLVWLQWKH+HULWDJH3ODFH)XWXULW\ >*@
7KH(DJOH([SUHVV6,ZLQVQG'HYHORSD3ODQ6 >*@
4XLFNLG3HUU\6,ZLQVWRUG'HOWD'DVK ILQDOLVWLQWKH
)LUHFUDFNHU)XWXULW\ >*@%DUQPDVWHU6SULQW6>5@ >*@
3DLQW0H5XVW\3ODFHGWRUG:HVW7H[DV-XYHQLOH6
%5,0)8/6,IE\%ULPPHUWRQZLQVWR+LDOHDK/DVVLH)XW
6ZHHWHQHG9DQLOOD6,JE\$5HJDO&KRLFHZLQVWRQG
2%&RFNHUHOO6=RRP=RRP=RRP6175
5XVW\V)O\HU6,ZLQVWRQG5DQFK+ >*@
%HDW7KLV&KLFN6,IE\7UHV6HLVZLQVDWQG(G%XUNH
0HPRULDO-XYHQLOHUG3DW+\ODQG0HPRULDO+
'XVW\5XVW\6,IE\ 9DOLDQW+HUR :LQQHU WR QG
7H[DV&ODVVLF-XYHQLOH,QY>5@
6KH]D/LOELWXLQR6,IE\7DNLQ2Q7KH&DVKZLQVWR ILQDOLVW
6DP+RXVWRQ)XW >*@'DPRI -(66$/,/%,7025(6,
>*@ 3DORPD %ODQFD % 6, DW >5@ >*@ 3HWH\
:KHDW6,JUDQGGDPRI 5211,(-$0(66,
>*@ 7+(/,==$5'.,1*6, >*@ +$1'2)'2206,
ZLQVLQVWDUWVWR *ROG5UUXVK6,
.LOOHU.ZHHQ6,WR
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
5*3
+LS1R
+LS1R
&RQVLJQHGE\-HVVLFD&:DWVRQ
(DVH)LUVW
0DUFK%URZQ*HOGLQJ
U RQD&DUW HO6,
6RXWKH UQ&DUW HO6,
{ &R
6RXWKH UQ3ROLF\6,
6RXWKH UQ)LUVW6,
(DVH)LUVW
'HQDOL5RVH
{
{
'DVKLQJ 0DULDK6,
{ )LUVW'RZQ'DVK6,
.HOO\V&RII HU6,
+ROODQG(DVH6,
{ )LUVW'RZQ'DVK6,
(DV\ +HQU\HWWD6,
5XQ)RU 5DQGL6,
%HGXLQR
{ <RXQJ
5RWDUHSR
%\6287+(51),5676,8QSODFHG%URWKHUWR%36287+(51
0$5,$+6,KDOIEURWKHUWR&$57(/68&&(666,'(),$175('
52267(5 6, 0,66 &$57(/6 68&&(66 6, 6LUH RI 6RXWKHUQ
'DQFLQ 6, ZLQQHU &6 6RXWKHUQ 6ZHHWQHV 6, ZLQV
6RQRI6287+(51&$57(/6,VLUHRI6287+(517$.(6
$//6,>*@%3 6+(66287+(516,>*@
VWGDP
'(1$/,526(E\+ROODQG(DVH8QSODFHG'DPRIIRDORIUDFLQJDJHD
\HDUROGFXUUHQWO\UDFLQJ
QGGDP
581)25 5$1',6,E\<RXQJ %HGXLQRZLQVWR1HZ0H[L
FDQ6SULQJ)XWXULW\>5@3HOLFDQ6>5@ ILQDOLVWLQWKH=LD)XWXULW\>5@ >*@
6DQWD)H'RZQV'HUE\>5@ >*@'DPRIIRDOVWRUDFHZLQQHUVLQFO±
&(5 6WROL0DUWLQL6,IE\ 6WROLZLQVWR
5DQGLV ,QMXQ6,IE\,QYLVLEOH ,QMXQZLQVWR
&HU3DLQWHG%XJ6,IE\ 6WROLZLQVWR
'HQDOL&HOHEUDWLRQ6,FE\ %ULPPHUWRQZLQVWR
UGGDP
527$5(32E\5HDO-HW:LQG8QUDFHG'DPRIIRDOVWRUDFHDOO520LQ
FOXGLQJ±
581)255$1',6,<RXQJ%HGXLQR6WDNHVZLQQHUDERYH
5RWDV2SHUDWRU6,%HKROG$ %HGXLQRZLQVWR
WKGDP
-($1,( -($1 6, E\ 0XVFOH %DU ZLQV DW 1HZ 0H[LFR
%UHHGHUV 'HUE\(75+HOHQ 0DWKLHVRQ6UG 6KXH)O\66LVWHUWR 3RSV
%DU 6, *HFDWFKLW 6, KDOIVLVWHU WR 3LFNDOLFN 6, 'DPRIIRDOVWRUDFH520LQFOXGLQJ±
&$1','2'(7$266,6NLGLGLFOH7%ZLQVWR6DQWD)H
'RZQV'HUE\>5@1HZ0H[LFR%UHG)XWXULW\>5@/D &KLULSDGD6>5@QG
1HZ0H[LFR%UHHGHUV¶'HUE\>5@ 6KXH)O\6>5@UG1HZ0H[LFR6WDWH
)DLU)XWXULW\>5@ >*@
$0+$5'72&20(%<6,6DLO2Q%XQQ\ZLQVWR=LD
6RSKRPRUH&KDPS>5@QG/D &KLULSDGD67XUI3DUDGLVH'HUE\ ILQDOLVW
>*@6HW 175\'DPRI±
+DUG7R&RPH'DVKHU6,ZLQVWRUG 6KXH)O\6>5@ IL
QDOLVWLQWKH=LD)XWXULW\>5@ >*@
%LEELDQD6,:LQQHUWRUG1HZ0H[LFR6WDWH)DLU6HQRULWD
)XWXULW\>5@ >*@1HZ0H[LFDQ6SULQJ)XWXULW\>5@
&DOO%XQQ\6,ZLQVWR
+DUG7R&DOO6,ZLQVWR
$:KLWH'LDPRQG6,7KH $GDPDVZLQVWR ILQDOLVWLQWKH=LD
)XWXULW\>5@ >*@'DPRI±
,FH2Q7KH5RFNV6,ZLQVWRQG=LD&KDPS>5@ >*@
6XFK$ :KLWH\$3+$6,ZLQVWR ILQDOLVWLQWKH 36%$
$PHULFDQ3DLQW&ODVVLF)XWXULW\>5@ >*@3RW 2¶*ROG)XWXULW\ >*@
5LSSHG'HQLP6,ZLQVWR
-HDQLH2Q&DOO6,&DOOLJUDSKHUZLQVWR
:LQ6RPH-HDQV6,1DWRPDV7%ZLQVWR
5*3
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU%RE-HUU\*DVWRQ
/LO%LW9DOLDQW
+LS1R
0DUFK%URZQ)LOO\
9DOLDQW+HUR6,
/LO%LW9DOL DQW
5XVW\V/LO/DG\
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
&RU RQD&KLFN6,
%HGXLQR6,
{ &KLFNV
6L]] OLQJ/LO6,
{
)UHGULFNVEXUJ6,
{ 0U-HVV3HUU\6,
)HDUOHVV)UHGD6,
/LO%LW5XVW\6,
{ (DVLO\6PDVKHG6,
5XVW\ 5RFNHWWH6,
%\ 9$/,$17 +(52 6, 6WDNHV ZLQQHU RI UDFHV LQ VWDUWV
>*@6LUHRIVWDNHVZLQQHUVLQFOXGLQJ)($785(
+(526,FKDPSLRQ\HDUROG$OO$PHULF
DQ'HUE\>*@
+28',1,6,5DLQERZ'>*@0,*+7<%9$/,$176,
9$/,$17/,//$'<6,>*@),5679$/,$176,*1
6,>*@6DP&URZ6,>*@21(9$/,$17+(52
VWGDP
5867<6/,//$'<E\ )UHGULFNVEXUJ8QUDFHG'DPRIIRDOVRIUDFLQJDJH
LQFOXGLQJD\HDUROGDOOVWDUWHGZLQQHUVLQFOXGLQJ±
9$/,$17/,//$'<6,IE\9DOLDQW+HURZLQVWR7H[DV
&ODVVLF)XWXULW\ >*@ %LHQYHQLGRGH1XHYR6UG6LJQDWXUH6 ILQDOLVWLQ
WKH+HULWDJH3ODFH)XWXULW\ >*@'DVKIRU&DVK'HUE\ >*@
%8%%$&$59(56,JE\:DYH&DUYHUZLQVWR5HWDPD
3DUN'HUE\ >*@+LDOHDK(O1LQR,QY%HQ(.HLWK6>5@ ILQDOLVWLQWKH
74+$6DOH)XWXULW\>5@ >*@
'DVKQ5XVW\JE\)LUVW'RZQ'DVK:LQQHUWR
QGGDP
/,/%,75867< 6,E\(DVLO\6PDVKHGZLQVWR 4+%&'LV
WDII >*@3DW +\ODQG+ >*@6W1LFKRODV([SUHVV+ >*@&RRUV)XW5HDO
:LQG6QG$QQH%XUQHWW+ >*@/DV 'DPDV+ >*@HWF'DPRI520±
:+26/($9,1*:+2 6,&KLFNV %HGXLQR :RUOG&KDPSLRQ &KDPSLRQ
<HDU2OG*HOGLQJZLQVWR&KDPSLRQRI&KDPSLRQV >*@
/RV$ODPLWRV:LQWHU'HUE\ >*@/RV$ODPLWRV:LQWHU&KDPS >*@WZLFH
&2521$6/($9,1*<286,FE\&RURQD&DUWHOZLQVLQVWDUWV
)LUHFUDFNHU)XW >*@QG7H[DV&ODVVLF'HUE\ >*@
:+2/(/27$'$6+6,JE\'DVK)RU&DVKZLQVWR
0H[LFR&KDPS&KDOOHQJH >*@ 74+$6LUHV¶&XS6>5@
%('8,1265867<6,IE\&KLFNV %HGXLQRZLQVLQVWDUWVDW
6DP+RXVWRQ)XWXULW\ >*@'DPRI +(6$/,/%,7+,*+6,
>5@ >*@ 5867<6 48,&.,'6, %5,0)8/6,
6ZHHWHQHG9DQLOOD6,175 5XVW\V)O\HU6,
>*@ %HDW7KLV&KLFN6, 'XVW\5XVW\6,
WR JUDQGGDP RI 48,&.,' &25 21$ 6, >*@175 -(66$/,/5867<6, >*@ -(66$/,/%,7
025(6, >*@0$(6752&2521$6, 3DLQW0H
4XLFNLG6, >*@ 4XLFNLG3HUU\6, 7KH(D
JOH([SUHVV6, >*@ 3HWH\:KHDW6,-HVV
$/LO%LWGDPRI 5211,(-$0(66, >*@ 7+( /,==$5'
.,1*6, >*@
:D\'RZQ7RZQ6,ZLQVQG'HOWD'DVK ILQDOLVW >*@
6KHQRVKHVSHFLDO6,IE\6SHFLDO(IIRUW:LQQHUWR*UDQGGDP
RI )$925,7(&$57(/6, >*@ 6+(6&+(&.,180287
6, +HQRVKHUVHFUHW6, >*@ +HV5HJDO6,
6OXPS%XVWHU6,
5XVW\V/LO/DG\IE\ )UHGULFNVEXUJ8QUDFHG'DPRI 9$/,$17/,//$'<
6, >*@ %8%%$&$59(56, >*@
/LO%LW'DVK6,:LQQHU'DPRI %2.1$$,6,
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
5*3
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\6KHUU\*LOPRUH
1DPH3HQGLQJ
+LS1R
-DQXDU\&ROW
5XVKDJR6,
1DPH3HQGL QJ
&DUQ\V:LFNHG*LUO6,
{
$JRXWL6,
U RQD&DUW HO6,
{ &R
(DV\'DWH'DVK6,
5XVK5XVK6,
{ %HGXLQR7%
'DVKLQJ'HERUDK6,
{
:LOOLH:LFNHG6,
%HGXLQR6,
{ &KLFNV
:LFNHG:LOOD6,
&DUQ\*LUO
{ )ULVFR)ODUH6,
0LJKWLO\6PDVKHG6,
%\ 586+$*26,6WDNHVSODFHGZLQQHURIUDFHVQG
6SHHG+RUVH*ROG6LOYHU&XS)XW>5*@+HULW DJH3ODFH'HUE\>*@
%ODFN*ROG&KDPSLRQVKLS)XW>5*@ IQO/HR6>*@6RRQHU6WDWH6
>5*@ +LV ILUVW IRDOV DUH \HDUROGV RI 6LUH RI ,G 6RRQHU 5XVK
0DQWKLVJLUOVRQILUH6,ZLQQHU6RQRI$*287,6,
VLUHRIVWDNHVZLQQHUVLQFO 6:,1*,1 '$''<26,>*@
VWGDP
&$51<6:,&.('*,5/6,E\:LOOLH:LFNHG:LQQHUWR7KLVLV
KHUILUVWIRDO
QGGDP
&$51<*,5/E\)ULVFR)ODUH8QUDFHG'DPRIVWDUWHUVZLQQHUVLQFO±
&$51<675($.,1'$6+6,JE\6WUHDN$QG'DVKZLQVWR
7ULSOH(OHYHQ6([SR6TXDUH6:DOWHU0HUULFN0HPR
ULDO6>5@QG*RYHUQRU¶V&XS0DUDWKRQ >*@([SR6TXDUH6:DOWHU
0HUULFN6>5@UG2NODKRPD&HQWHQQLDO6WZLFH:DOWHU0HUULFN6>5@
,FH2Q7KH/DNH6,JE\*UDQLWH/DNHZLQVWRQG:DOWHU
0HUULFN0HPRULDO6>5@UG%LOO+HGJH6 ILQDOLVW 6/0%LJ'DGG\6 >*@
+H]D&XW$ERYH6,JE\/D]EXGGLHZLQVWR ILQDOLVWLQWKH
3DXO¶V9DOOH\+ >*@5HPLQJWRQ'LVWDQFH+ >*@WZLFH
&DUQ\:LFNHG%R\6,JE\:LOOLH:LFNHG:LQQHUDW
UGGDP
0,*+7,/<60$6+('6,E\(DVLO\6PDVKHG8QSODFHG'DPRIIRDOVWR
UDFH520LQFOXGLQJ±
,==</(*$/$3+$6,7KH'HVHUW-HZHO>4@ $3+$:RUOG&KDPSLRQ
WLPHV&KDPSLRQ<HDUV ZLQV$3+$1DW&KDPS)XWHWF
,//(*$//< 60$6+(' $3+$ 6, 7KH 'HVHUW -HZHO >4@ $3+$
:RUOG&KDPSLRQ&KDPSLRQDWZLQV $3+$1DW
&KDPS)XWXULW\/RUHOHL)XWXULW\3DLQWWKH7RZQ)XWHWF
)/$6+1$77,78'($4+$$3+$6,6)5R\DO4XLFN)ODVK>43@ZLQV
LQ$3+$UDFHV3RW2¶*ROG)XW>5@ >*@UG 36%$'HUE\>5@ >*@
0LJKW\)DQF\0DQ6,6L[ )ROV:LQQHUQG%RRPHU6RRQHU3UHS)XW
6PDVKHG&DODPLW\6,5R\DO4XLFN'DVKZLQVDW ILQDOLVW >*@'DPRI
32:(5+286(+(52$3+$6,$3+$&KDPSLRQ<HDU2OG
*HOGLQJ &KDPSLRQ $JHG +RUVH &KDPSLRQ $JHG *HOGLQJ ZLQV
/RUHOHL )XWXULW\ '20(67,& ',6785%$1&( $3+$ 6, >5@ >*@JUDQGGDPRI )$67$77,78'($3+$6,
>5@ >*@ 'HDGZRRG'DYH 6,
WKGDP
0LJKW\0DJJLH 6,E\0LJKW\'HFN:LQQHUDWQG0LGZD\:LQWHU)XW
+DOIVLVWHUWR .LWDVWLFNV6, 9DQG\%R\ -U6,'DPRIIRDOVDOO520±
&(/(%5$7('&200(176,(GLWRULDO&RPPHQW7%ZLQVLQ
VWDUWVWR%OXH5LEERQ'HUE\ >*@HWF'DPRI 52<$//<
&(/(%
5$7('6, <DKRR/HWV&HOHEUDWH6,
6DKDUD6KLQGLJ6,>5@ >*@JUDQGGDPRI '$6+72&(/(
%5$7(6,>5@ >*@
%DVLFDOO\%DG6,ZLQVWRUG6RRQHU6WDWH6>5@ IQO >*@
(1*$*(0(176 6SHHGKRUVH*ROG6LOYHU&XS%ODFN*ROG.DQVDV-DFN
SRW,RZD'RXEOH*ROG
(OLJ
LEOHIRU2NODKRPDDFFUHGLW DWLRQ
5*3
+LS1R
&RQVLJQHGE\'LDPRQG&)DUPV$JHQWIRU5REHUW0=RFK
-HVV6LJQ$Q*HW
+LS1R
$SULO%D\&ROW
0U-HVV3HUU\6,
-HVV6LJQ$Q*HW
6LJQ$QG*R6,
{
6WUHDNLQ/D-ROOD6,
{ 6WUHDNLQ6L[6,
%RWW RP¶V8S6,
6FRRSLH)HLQ6,
{ 6LQQ)HLQ6,
/HJV/D6FRRS6,
{
9LW DO6LJQ6,
Q DW XUH6,
{ 7KH6LJ
6XUH,V1LFH
5HDO(DV\1LJKW
{ 5HDO(DV\-HW6,
6ZHHW1LJKW\QLWH6,
%\05-(663(55<6,&KDPSLRQ\HDUROG>*@6LUH
RI520VWDNHVZLQQHUVLQFOFKDPSLRQV0$7$%$5,
6,ZLQV/RV$ODPLWRV)XW>*@$32//,7,&$/-(666,
ZRUOGFKDPSLRQ/RV$ODPLWRV6XSHU'HUE\>*@21(
)$0286($*/(6,/RV$ODPLWRV)XW>*@12&21,6,
>*@0,665$&<-(666,>*@)5('5,&.6%85*
VWGDP
6,*1$1'*26,E\9LWDO6LJQ:LQQHUWR'DPRIIRDOVRIUDF
LQJDJHWRUDFHDOOZLQQHUV±
*R-HVVLH*R6,JE\0U-HVV3HUU\ZLQVWR
)DVW7R*RJE\)LUVW7R6KLQH:LQQHUWR
9LFWRU\6LJQ6,FE\0LVWHU9LFWRU\6PLWK:LQQHUWR
QGGDP
5($/($6<1,*+7E\5HDO(DV\-HW3ODFHGDWDQG'DPRIIRDOVWR
UDFH520LQFOXGLQJ±
$OZD\V$'UHDPHU6,IE\6XSHU'H.DVZLQVWR
(DV\6SDQLVK:RPDQ6,IE\6SDQLVK%RRW3ODFHGLQVWDUWDW
5HFNOHVV$QG(DV\6,IE\5HFNOHVV'DVK )LQDOLVWLQWKH7H[DV&KDPS
&KDOOHQJH >*@
UGGDP
6:((71,*+7<1,7(6,E\7UXO\7UXFNOH7%:LQQHUDW'DPRI
IRDOVWRUDFHZLQQHUVLQFOXGLQJ±
021(<6:((7021(<6,0DQ,Q7KH0RQH\ZLQVWR
0DQRU'RZQV/DVVLH)XWXULW\ ILQDOLVWLQWKH.DQVDV)XWXULW\ >*@
%ODFN'XFN6,'XFN'DQFH7%ZLQVWRQG3RPSDQR
3OD\ODQG)XWXULW\UG/DGGLH6 ILQDOLVWLQWKH%OXH5LEERQ)XWXULW\ >*@
WKGDP
1,*+76-2<6,E\-R\RXV-HG7%ZLQVDWDQG+DOIVLVWHUWR
758/<1,*+76, 7UXO\¶V (DVWHU6, 3ULVV\
/XOD6,'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
1LJKW7UDFNV6,5HE¶V3ROLF\7%ZLQVDWDQG ILQDOLVWLQWKH
*ROGHQ6WDWH)XWXULW\ >*@/D3ULPHUD'HO$QR'HUE\ >*@'DPRI±
%$%<,76721,*+76,ZLQVWR&RZER\&ODVVLF)XWXULW\
>*@QG%RLVH'HUE\ >*@ ILQDOLVWLQWKH'DVKIRU&DVK'HUE\ >*@
1HHG<RX7RQLJKW6,ZLQVWRQG'DVKIRU'HVWLQ\)XWX
ULW\0LG6XPPHU6L]]OHU)XWXULW\ ILQDOLVW >*@'DPRI±
/$1(67(56,ZLQVWR1(%26WDOOLRQ$OO%UHHG)XWX
ULW\>5@ ILQDOLVWLQWKH1RUWKZHVW-XYHQLOH&KDOOHQJH >*@
1HHG$/DQLH1LJKW6,ZLQVLQVWDUWVDWUG'LDPRQG
&ODVVLF)XWXULW\>5@ >*@
'DOODV1LJKWV6,:LQQHUWR'DPRI±
-$'$//$65816,ZLQVWR.DQVDV'HUE\ >*@
(DVW'HUE\&KDOOHQJH >*@QG0LVV3ROO\6'HOWD6UG(DVW
&KDPS&KDOOHQJH >*@$OWRRQD'HUE\ >*@ ILQDOLVW >*@
-$)($5/(666,ZLQVWR1RUWKODQGV)XWXULW\ >*@
QG.DQVDV)XWXULW\ >*@.DQVDV'HUE\ >*@
6ZHHW1LJKW3ROLF\5HE¶V3ROLF\7%'DPRI (O3DUUDQGHUR6,
(1*$*(0(176$4+$&KDOOHQJH
5*3
$FFUHGLWHG7H[DV %UHG
+LS1R
&RQVLJQHGE\5DQFK$JHQW
&DSWDLQV'UHDP
+LS1R
0DUFK%D\)LOO\
&DSW DLQ&RXUD JH6,
&DSW DLQV'UHDP
'UHDP\:LQQ HU6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
&RU RQD&KLFN6,
%HGXLQR6,
{ &KLFNV
6L]] OLQJ/LO6,
{
5XQD ZD\:LQQ HU6,
{ %HGXLQR7%
0LVV)DVW&KLF6,
'UHDP\'DVK6,
{ 'DVK)RU&DVK6,
6RXWKH UQ6WUHDNHU6,
%\&$37$,1&285$*( 6, 6WDNHVSODFHGZLQQHU RI UDFHV
UG$OO$PHULF
DQ)XW>*@+DOIEURWKHUWR&2521$&$6+6,
FKDPSLRQ6LUHRI520VWDNHVZLQQHUVLQFO:,&.
(' &285$*( 6, ZLQV 5DLQERZ 'HUE\ >*@ *5(<
'$=(6, 74+$6DOH)XW>5*@&$37$,1675$:)/<6,
'DVKIRU&DVK'HUE\>*@6(&5(7&285$*(6,
VWGDP
'5($0<:,11(56,E\5XQDZD\:LQQHUZLQVWR6LVWHUWR
5(0$5.$%/< 6, 'DP RI IRDOV RI UDFLQJ DJH LQFOXGLQJ D
\HDUROGERWKVWDUWHGLQFOXGLQJ±
3HUU\V:LQQHU6,IE\0U-HVV3HUU\3ODFHGDWLQ0H[LFR
QGGDP
'5($0< '$6+ 6, E\ 'DVK )RU &DVK :LQQHU DW 6LVWHU WR
'$6+6 '5($0 6, :RUOG &KDPS LRQ &KDPSLRQ \HDUV
>*@GDPRI ())257/(66'5($06, >*@
9LFWRU\'DVK6, >*@0\VWHULRXV'UHDPVGDPRI 0<7$6.
0$67(5 6, JUDQGGDP RI 0$*,&
$/ 7+81'(5 6, >*@KDOIVLVWHUWR $'',&7,1*$//85( 6,GDPRI +(=
+$%,7)250,1*6,3DVV(P6WUHDNHUGDPRI &$6+(0
675($.(56, 0H[LF
DQ&KDPSLRQ &KDPSLRQ<HDU2OGLQ0H[LFR
JUDQGGDP RI 6287+(51 &$6+ 0$1 6, >*@ 5(&.
/(66/<6,>5@ >*@)RUHYHU)RU$OZD\VGDPRI (<($0
)25(9(5 <2856 6, 2XW RI 6RXWKHUQ 6WUHDNHU 6, QG5DLQERZ'HUE\'DPRIIRDOVWRUDFH520LQFOXGLQJ±
6+(55<6$5,$6,JE\6WUHDNLQ/D-ROODZLQVWR1HZ
0H[LFR'LVWDQFH&KDOOHQJH >*@QG:HVW7H[DV0DUDWKRQ >*@%ULJ
DQG+ >*@UG5XLGRVR6 ILQDOLVW'LVWDQFH &KOJ&KDPS >*@
5(0$5.$%/<6,JE\5XQDZD\:LQQHUZLQVWR0U-HW
0RRUH6 ILQDOLVWLQWKH5XLGRVR6DOH)XWXULW\>5@ >*@
)RVWHUV'DVK6,JE\6WUDZIO\6SHFLDO:LQQHUWR ILQDOLVWLQ
WKH$4+$(DVW'LVWDQFH&KDOOHQJH >*@
3OD\IXO+DELWV6,IE\ 0HUULGRF3ODFHGWR'DPRI±
$&2521$+$%,76,ZLQVWR7KH3ODQ+
3/$<)8/%8*66,ZLQVWR,GDKR&XS)XWXULW\>5@ >*@
QG,GDKR&XS'HUE\>5@ >*@
/(*(1'$5<'5($0(56,ZLQVWR -HQV/LVW&DOLIRUQLD
%UHHGHUV6>5@ >*@UG +H]D)DVW0DQ6 ILQDOLVW >*@6LUH
3OD\IXO&KRLFHV6,ZLQVWRUG %ODQH 6FKYDQHYHOGW)XW
--+ 3OD\LQ)RU.HHSV6,ZLQVWRUG&DOLIRUQLD'LVWDII
&KDOOHQJH ILQDOLVWLQWKH'LDPRQG&ODVVLF)XWXULW\>5@ >*@
,QEHWZHHQ'DQFHVIE\5XQDZD\:LQQHU8QSODFHGLQVWDUW'DPRI±
=RRPLQ)RU0DU\6,ZLQVWRUG*ROGHQ'ULOOHU6 >*@
6SHFLDO)DVW([SUHVV6,ZLQVWR ILQDOLVW >*@
0DU\V &RURQLWDV6,ZLQVWR ILQDOLVW >*@
6RXWKHUQ$OLELIE\6WUHDNLQ/D-ROOD8QSODFHG'DPRI±
$)8/$/,%,6,ZLQVWR7RPP\³'XNH´6PLWK>5@UG1HZ
0H[LFR%UHHGHUV&KDPS>5@ >*@ ILQDOLVW>5@ >*@
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
$FFUHGLWHG7H[DV%UHG
5*3
+LS1R
+LS1R
:,7+'5$:1)5206$/(
+LS1R
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU*DU\ .XU]
-DNHV3DLQWHG:DJRQ
-DQXDU\%URZQ)LOO\
3<&3DLQW<RXU:DJRQ6,
-DNHV3DLQWHG:DJRQ
-DNHV&KDUPLQJ-RG\6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
'DVKLQ)ROOLHV
F LDO6,
{ 6WUDZIO\6SH
'DVKLQJ)ROO\6,
{
-RG\2 7RROH6,
{ -RG\V*ORU\6,
-HWWD2 7RROH6,
&KDUPLQJ(ODQ6,
F LDO(ODQ6,
{ 6SH
+LJK&KDUPV
%\ 3<&3$,17<285:$*216,6WDNHVZLQQHURI>*@
6LUHRI520VWDNHVZLQQHUVLQFO,0$)$1&< 3<&6,
ZLQV2NOD%UHG)XW>5*@:$*217$/(66,ZLQV
)5(,*+775$,1 % 6, %ODFN *ROG )XW >*@
-2.(521-$&.6,2.+RUVHPDQ¶V0\VWHU\)XW>5*@
QWU &58=,17+(:$*216,9DOOH\-XQFWLRQ)XW>*@
VWGDP
-$.(6&+$50,1*-2'<6,E\-RG\2 7RROHZLQVWR
%OLQNRIDQ(\H6175QG 74+$6LUHV¶&XS'HUE\>5@ >*@UG)LUH
FUDFNHU'HUE\/RQH6WDU'LVWDII&KDOOHQJH ILQDOLVWLQWKH 74+$6DOH)XWX
ULW\>5@ >*@ 'HFNHWWD6 >*@6HW 1:5\LQ7KLVLVKHUILUVW
IRDO
QGGDP
&+$50,1*(/$16,E\6SHFLDO(ODQZLQVWR'DPRIIRDOV
WRUDFHZLQQHUVLQFOXGLQJ±
-$.(6&+$50,1*-2'< 6,IE\-RG\2 7RROH6WDNHVZLQQHUDERYH
*ROV&KDUPLQJ(ODQ6,JE\*ROZLQVWR
&KDUPLQJ,OOXVLRQVIE\)LUVW,OOXVLRQV8QSODFHGLQVWDUW'DPRI±
&+$50,1&+,()&2521$6,ZLQVWR6DP+RXVWRQ
'HUE\ >*@
&+,()&2521$6&+$506,ZLQVWR6DP+RXV
WRQ-XYHQLOH6 ILQDOLVWLQWKH'DVKIRU&DVK'HUE\ >*@
UGGDP
+,*+&+$506E\2Q$+LJK3ODFHGDW'DPRIIRDOVWRUDFHDOOZLQQHUV
LQFOXGLQJ±
+LJK )O\LQ&KDUP6,6WUDZIO\LQ%XGVZLQVWRUG 74+$
6DOHV)XWXULW\>5@ >*@ ILQDOLVWLQWKH6DP+RXVWRQ)XWXULW\ >*@'DPRI±
7) 6WUXWWLQ+LJK6,ZLQVWR
6WROLV )O\LQ6,ZLQVWR
+LJK5HEHO&KDUP6,5HEHO'DVKHUZLQVWRQG/D 9LOOLWD
6 6XQGRZQHU7UDLOHU6>5@*XOI&RDVW6>5@'DPRI±
'HDQ7VXQDPL6,:LQQHUWR
)LUVW+LJK&KLFN6,&HOHEZLQVWRQG *&)$7;%UHG6
>5@UG0DQRU'RZQV6 ILQDOLVWLQWKH5LR5LFR)XWXULW\ >*@
+LJK6LOYHU&KDUP6,6SHFLDO(ODQZLQVWR
(ODQV/XFN\&KDUP6,6SHFLDO(ODQZLQVWR ILQDOLVWLQWKH
5XLGRVR'HUE\ >*@1HZ0H[LFR'LVWDII&KDOOHQJH >*@'DPRI±
7KH\GRQWOLNHP\QDPH6,ZLQVWR
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
$FFUHGLWHG2NODKRPD%UHG
5*3
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU 0F&ROHH/DQG/LYHVWRFN
([HFXW LYH3HUU\
+LS1R
)HEUXDU\*UD\&ROW
0U-HVV3HUU\6,
([H FX W LYH3HUU\
([H FX W LYH/RRNV6,
{
6WUHDNLQ/D-ROOD6,
{ 6WUHDNLQ6L[6,
%RWW RP¶V8S6,
6FRRSLH)HLQ6,
{ 6LQQ)HLQ6,
/HJV/D6FRRS6,
{
([H FX W LYH0HQD FH6,
%HGXLQR6,
{ &KLFNV
3URPLVHG0HPR ULHV6,
6WLFN\13LFN\6,
{ 6WLFNV$Q6WRQHV6,
6WDXQFK16DVV\6,
%\05-(663(55<6,&KDPSLRQ\HDUROG>*@6LUH
RI520VWDNHVZLQQHUVLQFOFKDPSLRQV 0$7$%$5,
6,ZLQV/RV$ODPLWRV)XW>*@ $32//,7,&$/-(666,
ZRUOGFKDPSLRQ/RV$ODPLWRV6XSHU'HUE\>*@21(
)$0286($*/(6,/RV$ODPLWRV)XW>*@ 12&21,6,
>*@0,665$&<-(666,>*@ )5('5,&.6%85*
VWGDP
(;(&87,9(/22.66,E\([HFXWLYH0HQDFHZLQVWR
0DQRU'RZQV)XWXULW\ >*@+HDUWEHDWRI$PHULFD+>5@ >*@/D 9LOOLWD6
QG *&)$)XWXULW\ >*@)LUHFUDFNHU'HUE\ >*@ $QFLUD)RUG&ODVVLF6>5@
>*@%OXH%RQQHW6/LYH2DN+>5@7KH%LGG\+>5@UG5DQFK6
5HWDPD3DUN-XYHQLOH>5@7H[DV7ZLVWHU6>5@ ILQDOLVW'DVKIRU&DVK)XWX
ULW\ >*@6RXWKZHVW-XYHQLOH&KDPS >*@6LVWHUWR (;(&87,9(35,1&(
6,'DPRIIRDOVRIUDFLQJDJHDOO\HDUROGVWRUDFHZLQQHUV±
%LJ /HZ 6, F E\ &RURQD &DUWHO :LQQHU DW QG
2NODKRPD)XWXULW\ >*@
&DUWHO([HFXWLYH6,FE\&RURQD&DUWHO:LQQHULQVWDUWDW
([HFXWLYH:DONWKUX6,JE\:DON7KUX)LUH:LQQHUDW
QGGDP
67,&.<13,&.<6,E\6WLFNV$Q6WRQHVZLQVWR%REE\
'R\OH6)LUVW'RZQ'DVK6QG3RPRQD&KDPS+ >*@ ILQDOLVW7H[DV
&ODVVLF)XWXULW\ >*@5DLQERZ)XWXULW\ >*@/RV$ODPLWRV'HUE\ >*@6LV
WHUWR (;(&87,9(/<6,'DPRIIRDOVWRUDFH520LQFOXGLQJ±
(;(&87,9(/22.66,IE\([HFXWLYH0HQDFH6WDNHVZLQQHUDERYH
(;(&87,9(35,1&(6,JE\([HFXWLYH0HQDFHZLQVWR
%LHQYHQLGR'H1XHYR6/LYH2DN+>5@QG 6DZJUDVV6+HDUWEHDWRI
$PHULFD+>5@ 74+$6LUHV¶&XS6>5@ ILQDOLVW7H[DV&ODVVLF'HUE\ >*@
([HFXWLYH3LFN6,JE\([HFXWLYH0HQDFHZLQVWR ILQDOLVWLQ
WKH 74+$6LUHV¶&XS'HUE\ >*@
3LFN13OD\6,IE\ 5HODJDWH7%8QSODFHG'DPRI±
([HFXWLYH'\QDVW\6,ZLQVWR ILQDOLVW>5@ >*@
UGGDP
67$81&+16$66<6,E\6WDXQFK$YHQJHU7%3ODFHGDW'DPRI
IRDOVWRUDFHDOO520LQFOXGLQJ±
:((=$*21(*5$<6,,OOXVLYRZLQVWR0DQRU0DWX
ULW\ >*@WZLFH 4+RI7H[DV%UHHGHUV¶6DOH'HUE\>5@&DSLWRO&LW\+>5@
7UDYHOHU+>5@6WHSKHQ)$XVWLQ+>5@QG*LOOHVSLH&RXQW\)DLU)XWXULW\
>*@5HWDPD'HUE\0DQRU'RZQV+,,UG6DP+RXVWRQ&ODVVLF >*@
67,&.<13,&.<6,6WLFNV$Q6WRQHV6WDNHVZLQQHUDERYH
(;(&87
,9(/<6,6WLFNV$Q6WRQHVZLQVLQVWDUWVWR
.DQVDV)XWXULW\ >*@UG5HWDPD3DUN)XWXULW\
6H[\ 6KDQLD6,%HKROG$ %HGXLQRZLQVWR'DPRI $//
:$&.(' 287 6, 2XUILUVWRUSKDQ 6, 0DQ/DZ6,JUDQGGDPRI 3$,177+(&$1'</$1(6,
)ODVK$YHQJHU6,
$YHQJLQJO\6,6WLFNV$Q6WRQHV'DPRI &DVKV 9HQJDQFH6,
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
/RV$ODPLWRV7ZR0LOOLRQ)XW*ROGHQ6WDWH0LOOLRQ)XW
(PEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\6FDUOHWW+LOO)DUP,QF$JHQW
7HPSWLQJ2QH
+LS1R
-DQXDU\6RUUHO)LOO\
7HPSWLQJ'DVK6,
7HPSWLQJ2QH
2QH6OLFN-HVVLH
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
$7HPSWLQJ&KLFN6,
{ &KLFNV%HGXLQR6,
7HPSW0H1RW6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
2QH6OLFN&RRNLH6,
{ 'DVK)RU&DVK6,
3IHIIHUQXVVH6,
%\ 7(037,1* '$6+ 6, &KDPSLRQ \HDUROG FROW 7H[DV&OVF)XW>*@175%URWKHUWR$7(037,1*'$6+6LUHRI520
VWDNHV ZLQQHUV LQFO .,66 0< +2&.6 6, FKDPSLRQ
WZLFHZLQV5DLQERZ'HUE\>*@/29(7+(:$<<28/,(6,
+HULW DJH 3ODFH )XW >*@ 7(037,1* '(67,1< 6, :HVW7H[DV'HUE\>*@+(=$'$6+,1%<(6,>*@
VWGDP
21(6/,&.-(66,(E\0U-HVV3HUU\8QSODFHG7KLVLVKHUILUVWIRDO
QGGDP
2QH6OLFN&RRNLH6,E\'DVK)RU&DVKZLQVWRQG*DUGHQD
6'HEXWDQWH6UG$45$7XUI3DUDGLVH'HUE\ >*@0DULQD3DFLILFD6
ILQDOLVW >*@6LVWHUWR 21( 6/,&.21(6, >*@KDOIVLVWHU
WR /LO6ZHHW0LQQLH6, &RRNLH/RYHU6,RXWRI 3IHIIHUQXVVH6,
>*@'DPRIIRDOVWRUDFH520LQFOXGLQJ±
)2&862163(('6,IE\6HSDUDWLVWZLQVWR4+5$RI
,QGLDQD'HUE\(QFKDQWHG6175QG&RQJUHVV'HUE\HWF
2QH)DPRXV/DG\6,IE\&KLFNV%HGXLQRZLQVWRUG
.+(<<+ >*@ IQO$OO$PHULFDQ'HUE\ >*@5DLQERZ)XW >*@'DPRI±
21()$0286($*/(6, &KDPSLRQ<HDU2OG&ROWZLQVLQ
VWDUWV WR/RV $ODPLWRV 7ZR 0LOOLRQ)XWXULW\ >*@ /RV
$ODPLWRV6XSHU'HUE\ >*@*ROGHQ6WDWH'HUE\ >*@6LUH
)$0286&$57(//$'<6,ZLQVLQVWDUWVDW
.QLJKW7UDQVSRUWDWLRQ)XWXULW\175\LQ
2QH)DPRXV)HUUDJDPR6,ZLQVWRQG-HQV/LVW&DOLIRU
QLD%UHHGHUV6>5@ ILQDOLVWLQWKH(O3ULPHUR'HO$QR'HUE\ >*@
6WUDWHJLF:HDSRQ6,ZLQVWR ILQDOLVWLQWKH5XLGRVR
)XWXULW\ >*@
)DPRXV&RURQD/DG\6,ZLQVDW ILQDOLVW5XLGRVR)XW >*@
2QH)DPRXV%ULRQL6,ZLQVWR ILQDOLVW)LUHFUDFNHU)XW >*@
2QH)DPRXV5RFN6WDU6,3ODFHGWR'DPRI±
2QH)DPRXV+HUR6,ZLQVWR ILQDOLVW >*@
2QH)O\LQJ&RRNLH6,IE\6WUDZIO\6SHFLDO:LQQHUWRUG
<DYDSDL'RZQV)XWXULW\ >*@'DPRI±
&$57(56&22.,(6,ZLQVWR5DLQERZ)XWXULW\ >*@
=DQMHUR6,6KD]RRPZLQVWRUG3UHPLR0HUFHG*RPH]2UR]FR6
3OXP*RUJHRXV6,IE\&KLFNV%HGXLQR:LQQHU ILQDOLVW >*@'DPRI±
-HVV,V*RUJHRXV6,:LQQHUWR ILQDOLVWLQWKH/RV$ODPLWRV
7ZR0LOOLRQ)XWXULW\ >*@
2QH'DVKLQJ&RRNLH6,IE\5R\DO4XLFN'DVKZLQVWR ILQDOLVW
LQWKH:HVW7H[DV)XWXULW\ >*@)LUHFUDFNHU'HUE\ >*@
2QH4XLFN&RRNLH6,IE\5R\DO4XLFN'DVK:LQQHUWR'DPRI±
-(66)($785(0(48,&.6,ZLQVWR+REEV
$PHULFD 'HUE\ >*@ /RV $ODPLWRV &KDPS &KDOOHQJH >*@ QG
&KDPSDW6XQODQG3DUN6 >*@9HVVHOV0DWXULW\ >*@6XQODQG&KDO
OHQJH&KDPS >*@:HVW7H[DV0DWXULW\ >*@/RV$ODPLWRV&KDPS
&KDOOHQJH >*@UG$OO$PHULFDQ'HUE\ >*@=LD3DUN&KDPS6 >*@
2QH)DPRXV&RRNLH6,ZLQVWRQG+LDOHDK/D1LQD
,QY6RXWK)ORULGD,QY
5*3
(1*$*(0(176$4+$&KDOOHQJH
+LS1R
&RQVLJQHGE\-DPHV5DQFK$JHQWIRU:HHWRQD6WDQOH\
0V3UL]H'LDPRQG
+LS1R
-DQXDU\%URZQ)LOO\
6SLW&XUO-HVV6,
0V3UL]H'LD P RQG
)LUVW3UL]H'LD P RQG6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
/LO6SLW&XUO6,
{ 2Q$+LJK6,
6SLW&XUO/DUN6,
{
)O\-HVV)O\6,
{ 0U-HVV3HUU\6,
0LVV\1LQH
)LUVW3UL]H'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
%\63,7&85/-(666,6WDNHVZLQQHUZLQVWR+HU
LWDJH 3ODFH 'HUE\ >*@ QG 6SHHGKRUVH 'HUE\ >5*@ HWF %URWKHU WR
3(55<663,77,1,0$*(6,6LUHRI520VWDNHV
ZLQQHUVLQFO63,7&85/',9$6,FKDPSLRQ6SHHGKRUVH
)XW>5*@385('63,76,(DVWH[6>*@(<($63,7
&85/ *,5/ 6, >*@-(66 &85/ 0< 35,=( 6,>*@
VWGDP
),567 35,=( ',$021' 6, E\ )O\ -HVV )O\ :LQQHU LQ VWDUWV DW 'DPRIIRDOVRIUDFLQJDJHWZR\HDUROGVERWKVWDUWHGWR
UDFHDOO520ZLQQHUVLQFOXGLQJ±
),56735,=('(1,06,JE\2DN7UHH6SHFLDOZLQVLQVWDUWVDW
/4+%$/DGGLH)XWXULW\>5@ >*@
)LUVW3UL]H-HW6,JE\-HW%ODFN3DWULRW:LQQHUDWQG
/4+%$)XWXULW\>5@ >*@ ILQDOLVWLQWKH/4+%$6DOH)XWXULW\>5@ >*@
'LDPRQG3UL]H6,IE\6KD]RRPZLQVWR ILQDOLVWLQWKH
'DVKIRU&DVK'HUE\ >*@
3<&)LUVW3UL]H0LD6,IE\3<&3DLQW<RXU:DJRQZLQVWR
QGGDP
),56735,=('$6+6,E\'DVK)RU&DVK %URRGPDUHRIWKH<HDULQ
ZLQVWR IQO >*@6LVWHUWR ),567'2:1'$6+6,
:RUOG&KDPSLRQ'DPRIVWDUWHUV520±
),56735,=(/((6$ 6,0U-HVV3HUU\ZLQVLQVWDUWV
5HPLQJWRQ)XW'DPRI ),56735,=(6+$81'$6, >*@HWF
),567 &$52/,1$ 6, I E\ 0U -HVV 3HUU\ ZLQV LQ VWDUWV WR +HULWDJH3ODFH)XWXULW\ >*@5HPLQJWRQ'HUE\ >*@'DPRI 06
),56735,=(526(6,5DLQERZ)XW >*@ &2521$'2
&$57(/6,WR5HPLQJWRQ2NOD%UHG)XWXULW\>5@
'(19(53$666, ,WHD6, >*@
),56735,=(52%,16,0U-HVV3HUU\ZLQVLQVWDUWV
5HPLQJWRQ)XW >*@'DPRI 66&$/(1'$5*,5/6, >*@
)$67),56735,=( 6,IE\+H]D)DVW0DQZLQVWR+HUL
WDJH 3ODFH )XW >*@ 'DP RI )$67 35,=( =220 6, >*@1:5 )DVW3UL]H'ROO6, >*@JUDQGGDPRI )$67
35,=(-25'$16, 63,7/,.(-$**(56,
>*@ '$6+,1)25$35,=(6,WR >*@
+(=$)$67'$6+6,FE\+H]D)DVW0DQZLQVWR%OXH
5LEERQ)XWXULW\ >*@QG5HPLQJWRQ)XW >*@6LUH
),56735,=('2&6,ZLQVWR*HQWLOO\'DVK6
)LUVW3UL]H3HUU\6,ZLQVQG7H[DV&ODVVLF)XW >*@6LUH
)LUVW3UL]H3DULV6,IE\0U-HVV3HUU\ZLQVWRQG%ODFN
*ROG)XWXULW\>5@ ILQDOLVW>5@ >*@'DPRI 3DULV3UL]H6,
)LUVW3UL]H7LPEHU6,FE\2DN7UHH6SHFLDOZLQVWRUG
%ODFN*ROG)XWXULW\>5@ ILQDOLVW6SHHGKRUVH)XW>5@ >*@
)LUVW3UL]H6WRQH6,FE\0U-HVV3HUU\ZLQVWRQG0U
0DVWHU%XJ+>5@ ILQDOLVWLQWKH7H[DV&ODVVLF'HUE\ >*@
)LUVW3UL]H)DQF\6,IE\0U-HVV3HUU\:LQQHU'DPRI ,0$)$1&<
3<&6,>5 >*@ 3<&)LUVW3UL]H)DQ\6,
(1*$*(0(176%ODFN*ROG
5*3
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\%REE\'&R[
6HDERXUQH
+LS1R
$SULO6RUUHO&ROW
%ULPPHUWRQ6,
6HDERXUQH
6KHV-HVV6SHF LDO6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
)LWWLQJ&HOH E UDW LRQ6,
5\RQ6,
{ 5RQDV
'UHDP'XFN6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
6SHF LDO%DOD QFH
F LDO3URMHFW6,
{ 6SH
&DVK%DOD QFH
%\ %5,00(5721 6, &KDPSLRQ \HDUROG FROW ZLQV LQ VWDUWV$OO$PHULF
DQ'HUE\>*@5DLQERZ'HUE\>*@6LUHRI
520VWDNHVZLQQHUVLQFO.,1* %5,00(57216,
ZLQV $QFLUD &OVF6>5*@ %5,00,(6 $//,%,%6,ZLQV
74+$ 6DOH )XW >5*@ &2817 '( 021(7 6, 5HPLQJWRQ3DUN -XY)8//%2$76,>*@&<35(66&,7<
VWGDP
6+(6-(6663(&,$/6,E\0U-HVV3HUU\ZLQVWR 9LQWRQ
6>5@QG'HOWD/RXLVLDQD%UHHGHUV¶'HUE\>5@ >*@UG 74+$6LUHV¶&XS
)XW>5@ >*@ ILQDOLVW/RXLVLDQD&KDPSLRQV'D\'HUE\>5@ >*@'DPRI OLY
LQJIRDOVRIUDFLQJDJHWKUHH\HDUROGVDOOVWDUWHGWRUDFH520LQFO±
-(66&285$*(2866,JE\$FKLHYHPHQWZLQVWR
/4+%$,QY6>5@UG /4+%$6DOH)XWXULW\,QY>5@ ILQDOLVWLQWKH0U-HVV
3HUU\/RXLVLDQD'RZQV6>5@ >*@
:+,7(25:521*6,IE\0U(\H2SHQHUZLQVWR$OO
$PHULFDQ-XYHQLOH,QY>5@ ILQDOLVWLQWKH$OO$PHULFDQ'HUE\ >*@
%<(%<(-(666,JE\ 'DVKLQ%\HZLQVWR7KH7ULFN\
'XVW2YHUQLJKW6
6+(6-(66'<1$0,7(6,IE\ )'''\QDVW\ZLQVWR
+LDOHDK/DVVLH)XWXULW\
)RUHVW3DUN6,FE\ %ULPPHUWRQZLQVDW ILQDOLVWLQWKH
7H[DV&ODVVLF)XWXULW\ >*@'DVKIRU&DVK)XWXULW\ >*@
%HDVWUR6,JE\,YRU\-DPHV:LQQHUWR ILQDOLVW5HWDPD 'E\ >*@
0V7HVOD-HVV6,IE\ )'''\QDVW\3ODFHGLQVWDUWDW
QGGDP
63(&,$/%$/$1&(E\6SHFLDO3URMHFW8QUDFHG'DPRIVWDUWHUV520±
6+(6-(6663(&,$/6,IE\0U-HVV3HUU\6WDNHVZLQQHUDERYH
$ 6SHFLDO 7RDVW 6, I E\ 7RDVW 7R 'DVK ZLQV WR UG
2SHORXVDV-XYHQLOH6>5@ ILQDOLVWLQWKH /4+%$)XWXULW\>5@ >*@'DPRI±
7RDVW(P%\H6,ZLQVWR ILQDOLVW>5@ >*@
7RDVW(P %LJWLPH6,ZLQVWR
UGGDP
&$6+%$/$1&(E\'DVK)RU&DVK:LQQHU'DPRIVWDUWHUVZLQQHUV±
)$%8/286 ),*85( 6, 6WUHDNLQ 6L[ ZLQV WR 5HPLQJWRQ'HUE\HWF'DPRI &RURQD)RU -ROLH6,
6,;),*85(66,6WUHDNLQ6L[ZLQVWR 4+%&0DUDWKRQ
&ODVVLF >*@(O 2FKR 6HWHQWD+ >*@QG%XOO 5DVWXV+ >*@
,1-816 3/$67,& &$6+ 6, ,QYLVLEOH ,QMXQ ZLQV LQ VWDUWV DW 0DQRU'RZQV/DGGLH)XWXULW\ >*@ ILQDOLVW >*@
6,;217+(%($&+6,6WUHDNLQ6L[ZLQVWR-XVWD6HF
RQG6HWF'DPRI %$%(217+(%($&+6, 6,;/,77/(
,1-816 6, >*@ %DEH 2Q 7KH )O\6, >*@ 3UHFLVLRQLVW506,JUDQGGDPRI '217/(7'2:1
6, >*@ 52&. <28 6, >*@ (<(
&$8*+7&+$ 3((.,16, >*@
&XUYDFLRXV&DVK6,ZLQVWRQG.DQVDV'HUE\ >*@
(1*$*(0(176$4+$&KDOOHQJH
5*3
(PEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\+DGGDG5DQFK$JHQW
*R7HPSWLQJ)O\
+LS1R
)HEUXDU\6RUUHO)LOO\
7HPSWLQJ'DVK6,
*R7HPSWLQJ)O\
*R)O\RQWKHPRXQWDLQ6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
$7HPSWLQJ&KLFN6,
{ &KLFNV%HGXLQR6,
7HPSW0H1RW6,
{
3DQW KHU0RXQW DLQ6,
W HU0H*RQH6,
{ 0H
&DVK7KLV5XQQ HU6,
6WUDZIO\&R(G6,
F LDO6,
{ 6WUDZIO\6SH
'DVKV&R(G6,
%\ 7(037,1* '$6+ 6, &KDPSLRQ \HDUROG FROW 7H[DV&OVF)XW>*@175%URWKHUWR$7(037,1*'$6+6LUHRI520
VWDNHV ZLQQHUV LQFO .,66 0< +2&.6 6, FKDPSLRQ
WZLFHZLQV5DLQERZ'HUE\>*@/29(7+(:$<<28/,(6,
+HULW DJH 3ODFH )XW >*@ 7(037,1* '(67,1< 6, :HVW7H[DV'HUE\>*@+(=$'$6+,1%<(6,>*@
VWGDP
*2 )/<217+(02817$,1 6, E\ 3DQWKHU 0RXQWDLQ :LQQHU WR ILQDOLVWLQWKH*LOOHVSLH&RXQW\)DLU)XWXULW\ >*@6LVWHUWR &R(G
&DVK4XHHQ6,'DPRIIRDORIDFLQJDJHDQXQVWDUWHG\HDUROG
QGGDP
675$:)/<&2('6,E\6WUDZIO\6SHFLDOZLQVDWDQG
'DPRIIRDOVWRUDFHDOO520LQFOXGLQJ±
&R(G&DVK4XHHQ6,IE\3DQWKHU0RXQWDLQ:LQQHUWR
86$LQ0H[LFRQG&ODVLFR$0&&&0
2K6R)O\6,IE\/RRN)RUZDUGZLQVWR
0&0)O\'DVKHU6,IE\6RPH'DVKHUZLQVWR
UGGDP
'$6+6&2('6,E\)LUVW'RZQ'DVK:LQQHU'DPRIVWDUWHUVZLQQHUV±
),567'2:1+(52 6,9LOODJH+HURZLQVWR/4+%$)X
WXULW\>5@ >*@/RXLVLDQD&KDPSLRQV'D\-XYHQLOH>5@ >*@1756DP+RXV
WRQ'HUE\ >*@(DVW&KDPS&KDOOHQJH >*@1756DP+RXVWRQ&ODVVLF
>*@QG0DUGL*UDV'HUE\>5@ >*@UG'DVKIRU&DVK)XW >*@HWF
0,5$&/(675($. 6,6WUHDNLQ/D-ROODZLQVWR+DUUDK¶V
(QW)XW ILQDOLVW)LUHFUDFNHU)XW >*@)LUHFUDFNHU'HUE\ >*@6LUH
'DQFH 'DQFH 6, 3DQWKHU 0RXQWDLQ ZLQV WR UG
(YDQJHOLQH'HUE\ ILQDOLVW/4+%$)XWXULW\>5@ >*@)ODVK\+HPS6>5@ >*@
4XLWH5LRW6,6ZLQJLQ-HVVZLQVWRQG(YDQJHOLQH
'RZQV)XWXULW\
0H[LFDQ6WDQGRII6,7RDVW7R'DVKZLQVWR ILQDOLVW>5@ >*@
/RXLVLDQD.QLJKW6,-HVV/RXLVLDQD%OXHZLQVWR
0HUULGRZQ6,0HUULGRF:LQQHUWR'DPRI±
6RPH0HUUL'DVKHU6,ZLQVWR
0HUULKHUR6,ZLQVWR
WKGDP
'$5. /29(/,1(66 6, E\ 5RFNHW :UDQJOHU ZLQV WR 3RFDKRQWDV6QG9DQG\¶V)ODVK6HWF+DOIVLVWHUWR %RDUG&KDLUPDQ
6, >*@1DWRYD7%GDPRI (DV\1DWRYD 6, $6XSHU
QRYD6, >*@JUDQGGDPRI 1$729$635,1&(666,
>*@ 285 /,48,'$725 6, 6+257 &=(&+ 6, >*@/RYH$W)LUVW*ODQFHGDPRI ),567%/$=,1/29(6,
>5@ >*@2XWRI 12%/(129$ 7%'DPRIVWDUWHUV520±
7ROOGDUN1+DQGVRPH6,JE\7ROOWDFZLQVWRUG&DOLIRU
QLD6LUHV¶&XS)XW>5@ >*@&DOLIRUQLD6LUHV¶&XS'HUE\>5@ >*@
(1*$*(0(176$4+$&KDOOHQJH
5*3
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQW
/D9DOHQFLD
+LS1R
-DQXDU\%URZQ)LOO\
9DOLDQW+HUR6,
/D9DO HQF LD
7\OHUV)HDW XUH6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
&RU RQD&KLFN6,
%HGXLQR6,
{ &KLFNV
6L]] OLQJ/LO6,
{
)HDW XUH0U-HVV6,
{ 0U-HVV3HUU\6,
%UHQGD)HDW XUH6,
7\OHUV)LUVW'RZQ6,
{ )LUVW'RZQ'DVK6,
7\OHUV &XWLH6,
%\ 9$/,$17 +(52 6, 6WDNHV ZLQQHU RI UDFHV LQ VWDUWV
>*@6LUHRIVWDNHVZLQQHUVLQFOXGLQJ)($785(
+(526,FKDPSLRQ\HDUROG$OO$PHULF
DQ'HUE\>*@
+28',1,6,5DLQERZ'>*@0,*+7<%9$/,$176,
9$/,$17/,//$'<6,>*@),5679$/,$176,*1
6,>*@6DP&URZ6,>*@21(9$/,$17+(52
VWGDP
7</(56)($785(6,E\)HDWXUH0U-HVVZLQVWR'DPRI
IRDORIUDFLQJDJH±
*OREDO0HQDFH6,JE\7HOOHU&DUWHO3ODFHGDW
QGGDP
7</(56 ),567 '2:1 6, E\ )LUVW 'RZQ 'DVK ZLQV WR 4+%&-XYHQLOH >*@QG(G%XUNH0HPRULDO)XWXULW\ >*@ 4+%&6RSKR
PRUH >*@ ILQDOLVW/RV$ODPLWRV'HUE\ >*@*RYHUQRU¶V&XS'HUE\>5@ >*@
6LVWHUWR 75'$6+(56,'DPRIIRDOVWRUDFH520LQFOXGLQJ±
$868$/6863(&76,FE\6WUDZIO\6SHFLDOZLQVLQVWDUWVDW
$OO$PHULFDQ)XWXULW\ >*@6LUH
6HQLRU6ROR6,FE\0U-HVV3HUU\ZLQVWRUG6RXWKHUQ
&DOLIRUQLD'HUE\ >*@ ILQDOLVWLQWKH/RV$ODPLWRV6XSHU'HUE\ >*@(G
%XUNH0HPRULDO)XWXULW\ >*@ 3&4+5$%UHHGHU¶V'HUE\ >*@6LUH
5XPRU&RQWURO6,JE\6WUDZIO\6SHFLDOZLQVWRUG/RV
$ODPLWRV7ZR0LOOLRQ-XYHQLOH,QY>5@ ILQDOLVW6RXWKHUQ&DOLI'HUE\ >*@
7\OHUV =RRPLQ 6, IE\6KD]RRP ZLQV WR QG
$45$7XUI3DUDGLVH'HUE\
6WHDG\3URILWV6,IE\6WUDZIO\6SHFLDO:LQQHUDW'DPRI±
&RQVLVWHQWO\8QUDFHG'DPRI /D &KHPLWD6,
-D[WHQV )LUVW :DJRQ 6, F E\ 3<& 3DLQW <RXU :DJRQ :LQQHU DW ILQDOLVWLQWKH+HULWDJH3ODFH)XWXULW\ >*@
UGGDP
7</(56 &87,(6,E\%HGXLQR7%:LQQHUDW+DOIVLVWHUWR +XPEXJ
&RXQW\6,'DPRIIRDOVWRUDFHDOO520LQFOXGLQJ±
7</(56),567'2:16,)LUVW'RZQ'DVK6WDNHVZLQQHUDERYH
75'$6+(56,)LUVW'RZQ'DVKZLQVWR0U-HW0RRUH6
UG(O 3ULPHUR'HO $QR'HUE\ >*@ ILQDOLVW(G%XUNH0HP)XWXULW\ >*@6LUH
7\OHUHWWH6,%OXVKLQJ%XJZLQVWRUG*RYHUQRU¶V&XS
'HUE\>5@ >*@'DPRI±
6(/)$66(57,9( 6,ZLQVWRLQ0H[LFR0H[LFR'HUE\
&KOJ >*@QG&DOLI&KDPS &KOJ >*@UG'HUE\ &KOJ&KDPS >*@
)((/7+(52$56,ZLQVWR&RURQD&KLFN+ >*@-HW
'HFN6UG&DOLIRUQLD-XYHQLOH&KDOOHQJH >*@$XWXPQ6 IQO >*@
0DQH(YHQW6,ZLQVWRQG 'LOOLQJKDP+
7\OHUDWH6,ZLQVWR
7\OHUV/DG\%XJ6,%OXVKLQJ%XJZLQVWR ILQDOLVWLQWKH*RY
HUQRU¶V&XS)XWXULW\>5@ >*@'DPRI 6+('$6+,1*6,LQ
0H[LFR )XOOIRUFHDKHDG6, 6WUDZIO\V%XJ6,
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
/RV$ODPLWRV7ZR0LOOLRQ)XW*ROGHQ6WDWH0LOOLRQ)XW
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\-(+6WDOOLRQ6WDWLRQ$JHQWIRU$OHMDQGUR0R\D
:LQLQJ,V(DV\
+LS1R
)HEUXDU\6RUUHO&ROW
7LPDUURQ6,
:LQLQJ,V(DV\
*DEEH\+ROODQG6,
{
6WUDZIO\6SHF LDO6,
F LDO(II RUW6,
{ 6SH
)O\,Q7KH3LH6,
&KHFN+HU7ZLFH6,
{ )LUVW'RZQ'DVK6,
)LVKHUV)DY RULWH6,
{
+ROODQG(DVH6,
{ )LUVW'RZQ'DVK6,
(DV\+HQU\HWWD6,
+LJK)DVKLRQ/DVV6,
J DQV HU6,
{ 0HU
*HQX LQH.QRFNR XW6,
%\ 7,0$5521 6, :LQQHU RI UDFHV +DOI EURWKHU WR
&+(&.+,02876,0$67(56&$//6,6LUHRIVWDUWHUVLQFO
7LPDUURQV(\HVSODFHG6RQRIVWDNHVZLQQHU675$:)/<63(&,$/6,
VLUHRIVWDNHVZLQQHUVLQFO7$,/25),76,ZRUOGFKDPSLRQ
WZLFH >*@ 675($.,1 )/<(5 6, >*@
$868$/6863(&76,>*@/$(63(&,$/&2521$>*@
VWGDP
*$%%(<+2//$1'6,E\+ROODQG(DVHZLQVWR'DPRI
IRDOVRIUDFLQJDJHWRUDFHERWK520LQFOXGLQJ±
-HVV*DEEH\6,IE\0U-HVV3HUU\3ODFHGWR'DPRI±
0\)LUVW-HVV6,FE\0\)LUVW0RRQ3ODFHGDW
QGGDP
+,*+)$6+,21/$666,E\0HUJDQVHUZLQVDW'DPRIIRDOV
WRUDFHZLQQHUVLQFOXGLQJ±
&,1'<6),567&'6,IE\&RURQD&DUWHOZLQVWR0DQRU
'RZQV6 ILQDOLVWLQWKH2NODKRPD'LVWDII&KDOOHQJH >*@'DPRI±
($6<'2(6,7&,1'<6,ZLQVWR%XJV$OLYHLQ6>5@
UG%ODFN*ROG)XWXULW\&KDPS>5@ >*@2NODKRPD'HUE\
352172$/(;6,ZLQVDW/DLFR%LUG6>5@ ILQDOLVWLQWKH
+HULWDJH3ODFH)XWXULW\ >*@
=RRPLQJ)RU)LUVW6,:LQQHUWR TXDO'DVKIRU&DVK'HUE\ >*@
3RVVXP)XVW6,JE\6ZHHW)LUVW'RZQZLQVWRQG
5DLQERZ)XW >*@2NODKRPD)XW >*@$OO$PHULFDQ-XY>5@UG'DVK
)RU&DVK)XW >*@ ILQDOLVW$OO$PHULFDQ'HUE\ >*@5DLQERZ'HUE\ >*@
$GULDQV-ROOD6,FE\6WUHDNLQ/D-ROODZLQVWRQG'DVK
IRU &DVK 'HUE\ >*@ UG 6XQODQG 3DUN :LQWHU 'HUE\ >*@ 2NODKRPD
'HUE\&KDOOHQJH >*@ ILQDOLVW(DVWH[+ >*@%RE0RRUH6 >*@6LUH
UGGDP
*HQXLQH.QRFNRXW6,E\6SHFLDO(IIRUWZLQVWRUG-HVV
%XUQHU 6 ILQDOLVW 5DLQERZ 'HUE\ >*@ 2XW RI 326680-(7 6, $OO$PHULFDQ)XW'DPRIIRDOVWRUDFH520LQFOXGLQJ±
)$//,1* ,1 /29($*$,1 6, I E\ )LUVW 'RZQ 'DVK ZLQV WR $OO$PHULFDQ)XW >*@5HG(DUWK+ >*@QG5HPLQJWRQ
*ROG&XS >*@UG$OO$PHULFDQ'HUE\ >*@5XLGRVR'HUE\ >*@
52-2'$1&(56,JE\'DVK7KUX7UDIILFZLQVWRLQ
860H[LFR&DOLIRUQLD&KOJ&KDPS >*@WZLFH9DQG\¶V)ODVK+ >*@
'LUHFWRU¶V6 >*@UG&KOJ&KDPS >*@
&$17&$7&+$&2521$6,FE\&RURQD&DUWHOZLQVWR
6WUHDNLQ/D-ROOD6 >*@UG*ULGLURQ*DOORS6 ILQDOLVW >*@
6+(/%<668535,6(6,IE\5R\DO4XLFN'DVKZLQVWR
$E:KDWD5XQQHU6QG'DVKLQJ)ROO\65DLQERZ-XYHQLOH,QYLWDWLRQDO
6>5@ TXDOLILHGWR&DOLIRUQLD'LVWDII&KDOOHQJH >*@
6WRU\ERRN /RYHU 6, I E\ )LUVW 'RZQ 'DVK ZLQV QG
5KHXGDVLO+ >*@ ILQDOLVWLQWKH$OO$PHULFDQ'HUE\ >*@'DPRI )($785(
0</29(5%6, 7ZLOLJKW%6, >*@ -HVVLFD
/DQHV,/RYH7KLV6WRU\6,ZLQVWR
7LWOH&RQWHQGHU6,FE\)LUVW'RZQ'DVK:LQQHUWRQG
4XLFNVLOYHU6>5@ ILQDOLVW+HULWDJH3ODFH)XWXULW\ >*@6LUH
&ROH+HDUWHG+XVV\6,:LQQHUWRLQ0H[QG&ODVLFRWKH3UL]H
5*3
+LS1R
&RQVLJQHGE\5R\FH5RJHUV$JHQWIRU+D]HO5 0XODQD[RU-R\-RUGDQ
&HH &HH 5K\GHU
+LS1R
0DUFK%D\&ROW
&DSW DLQ&RXUD JH6,
&HH &HH 5K\GHU
'HEV&DUW HO6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
&RU RQD&KLFN6,
%HGXLQR6,
{ &KLFNV
6L]] OLQJ/LO6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
'HERQDLUHVV6,
{ 0U'DUN-HW6,
&DXVH,P(DV\6,
%\&$37$,1&285$*( 6, 6WDNHVSODFHGZLQQHU RI UDFHV
UG$OO$PHULF
DQ)XW>*@+DOIEURWKHUWR&2521$&$6+6,
FKDPSLRQ6LUHRI520VWDNHVZLQQHUVLQFO:,&.
(' &285$*( 6, ZLQV 5DLQERZ 'HUE\ >*@ *5(<
'$=(6, 74+$6DOH)XW>5*@&$37$,1675$:)/<6,
'DVKIRU&DVK'HUE\>*@6(&5(7&285$*(6,
VWGDP
'HEV&DUWHO6,E\&RURQD&DUWHOZLQVWRQG $OLVR9LHMR6 IL
QDOLVWLQWKH.LQGHUJDUWHQ)XWXULW\ >*@'DPRIIRDOVRIUDFLQJDJHWZR
\HDUROGVERWKVWDUWHGWRUDFH520LQFOXGLQJ±
(1'/(662&($16,IE\2FHDQ5XQDZD\ZLQVWR
+DUUDK¶V(QWHUWDLQPHQW)XWXULW\ >*@+LDOHDK/DVVLH)XWXULW\QG*RYHU
QRU¶V6/RQH6WDU'LVWDII&KDOOHQJHUG +DUUDK¶V'DVK6 ILQDOLVWLQWKH
74+$6DOH)XWXULW\>5@ >*@7H[DV&ODVVLF'HUE\ >*@'DPRI±
2FHDQ-HVV&DUWHO6,FE\ $SROOLWLFDO-HVV:LQQHUDW
ILQDOLVWLQWKH +DUUDK¶V(QWHUWDLQPHQW)XWXULW\ >*@
'(%6 54'6,FE\5R\DO4XLFN'DVKZLQVLQVWDUWVWR
+LDOHDK/DGGLH )XWXULW\175\LQ,QGLDQD/LYH 4+5$,'HUE\
ILQDOLVW/RQJKRUQ'HUE\ >*@6HW 175DW,QGLDQD*UDQG\LQ
-867($*/(6,IE\2QH)DPRXV(DJOHZLQVWR
6SHHGKRUVH'HUE\UG%HOOHV6
0LVWHU6HFUHW&DUWHO6,JE\1R6HFUHWV+HUHZLQVWR
+0 7UHVDFHV6,JE\7UHV 6HLVZLQVWR
0LVWHU'DUN(DJOHFE\2QH)DPRXV(DJOH3ODFHGLQVWDUWVDW
QGGDP
'HERQDLUHVV6,E\0U'DUN-HWZLQVDWUG%XVFK*UDKDP
)DUPV)XWXULW\*UDKDP)DUPV0DW ILQDOLVW >*@'DPRI520LQFO±
)$67 '(%21
$,5 6, F E\ +H]D )DVW 0DQ ZLQV WR 7H[DV&ODVVLF)XWXULW\ >*@(O5HQR6QG5HPLQJWRQ'HUE\ >*@6LUH
/$'< 0$5$ 6, I E\ 0DUWKDV 6L[ 0RRQV ZLQV LQ VWDUWV WR 2NODKRPD)XWXULW\ >*@ 6KHEHVWHU)XWXULW\ >*@
)217$1$%($8-2/$,66,IE\0RRQ/DUNZLQVWR/RQJ
KRUQ)XWXULW\ >*@UG/RQJKRUQ'HUE\ >*@'DPRI 52<$/0('$/
/,21 6, 1HZ 0H[LFR 'HUE\ &KDOOHQJH >*@ &5$=<
$%287&2521$6,GDPRI -(6621(025(7+,1*6,
6KDERRPDWRU6,QG5XLGRVR'HUE\ >*@UG
5DLQERZ'HUE\ >*@ 3DLQW<RXU%HDX6, %HDXV:DJRQ6,
)DVW)RQWDQD6, )ULYLORXV)RQWDQD6,JUDQGGDPRI
2.(< '2.(<)$17$6<6,5XLGRVR)XW >*@
1$7,9('(%21
$,56,FE\5DLVH<RXU*ODVV7%ZLQVWR
3RUWODQG0HDGRZV'HUE\ 4+%&1RUWKZHVW)XWXULW\>5@
6$921$ 6, I E\ 5DLVH 7KH *DPEOH :LQQHU WR 0DQRU
/DVVLH)XWXULW\'DPRI 7(;$6:,/'&$7$3+$6,$3+$6ROLG
:RUOG&KDPSLRQ9(521$ $3+$6,$3+$&KDPSLRQ
<HDU2OG)LOO\ )ULRQD$3+$
-HVVHV6L[HV6,FE\0U-HVV3HUU\ZLQVWRQG7KH,Q
IRUPDQW'HUE\ ILQDOLVW$OO$PHULFDQ -XY>5@ >*@6HW 175
'HEV&DUWHO6,IE\&RURQD&DUWHO6WDNHVZLQQHUDERYH
5*3
$FFUHGLWHG7H[DV %UHGHPEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\ =DFK6WHYHQVRQ
-DPHV :DQWD&KLFN
+LS1R
-DQXDU\%URZQ&ROW
,YRU\-DPHV6,
-DPHV :DQWD&KLFN
3LWD&KLFN6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
'DVKLQ)ROOLHV
F LDO6,
{ 6WUDZIO\6SH
'DVKLQJ)ROO\6,
{
:DYH&DUYHU6,
{ )LUVW'RZQ'DVK6,
5XQD ZD\:DYH6,
5R\DO 'HOSKLDV&KLFN6,
%HGXLQR6,
{ &KLFNV
'HOSKLD6,
%\,925<-$0(66,6WDNHVSODFHGZLQQHURIUDFHV
%URWKHUWR 3<&3$,17<285:$*216,6LUHRI520VWDNHV
ZLQQHUVLQFO,9$1-$0(66,ZLQVDW
6DP+RXVWRQ)XW>*@),56735,=(',9(6,ZLQV%ODFN
*ROG )XW >5*@ 5$3,' ,925< 6, -% -$0(6 6, 5$:+,'(&5((.6,63(&,$/6-$0,(6,
VWGDP
3,7$&+,&.6,E\:DYH&DUYHUZLQVWR7KLVLVKHUILUVWIRDO
QGGDP
5R\DO 'HOSKLDV&KLFN6,E\&KLFNV %HGXLQRZLQVWRUG
5DLQERZ)XWXULW\ >*@'DPRIIRDOVWRUDFH520LQFOXGLQJ±
.,1* %5,00(5721 6, J E\ %ULPPHUWRQ ZLQV WR $QFLUD)RUG&ODVVLF6>5@ >*@%)3KLOOLSV-U+>5@ >*@ 74+$6LUHV¶
&XS6QG7KH&KDPSDW 6XQODQG3DUN >*@UG7H[DV&ODVVLF)XWXULW\
>*@ 5HIULJHUDWRU+ >*@ 5HPLQJWRQ 3DUN 'HUE\ >*@ 6DP +RXVWRQ
&ODVVLF >*@'DVKIRU&DVK-XYHQLOH>5@ ILQDOLVW$OO$PHULFDQ'HUE\ >*@
&2817'(021(76,JE\ %ULPPHUWRQZLQVWR
5HPLQJWRQ3DUN-XYHQLOH6>5@UG+HULWDJH3ODFH)XWXULW\ >*@
'RZQ5LWH5R\DO6,JE\)LUVW'RZQ'DVKZLQVWR ILQDOLVWLQ
WKH7H[DV&ODVVLF'HUE\ >*@'DVKIRU&DVK'HUE\ >*@
%ULP2I 5R\DOLW\6,FE\ %ULPPHUWRQZLQVWR
,YRU\.QLJKW6,JE\,YRU\-DPHVZLQVWR
$5R\DO-HVV6,FE\0U-HVV3HUU\ZLQVWR
%ULPPHUWRQV&KLFNIE\ %ULPPHUWRQ8QSODFHGLQVWDUWV'DPRI±
0RNDUD6,ZLQVWR
UGGDP
'(/3+,$6,E\6SHFLDO(IIRUW3ODFHGWR'DPRI520LQFO±
*,9,1,7$52<$/())2576,)LUVW'RZQ'DVKZLQVWR
+HULWDJH3ODFH)XWXULW\ >*@6LUH
6SHFLDO5R\DO&RURQD6,&RURQD&DUWHOZLQVWRUG
7H[DV&ODVVLF)XWXULW\ >*@ ILQDOLVWLQWKH6DP+RXVWRQ)XWXULW\ >*@
5R\DO'HOSKLDV&KLFN 6,&KLFNV%HGXLQR6WDNHVSODFHGZLQQHUDERYH
1XHYR&DUWHO6,&RURQD&DUWHOZLQVWRUG/RV$ODPLWRV
7ZR0LOOLRQ -XY>5@ TXDOLILHG(O 3ULPHUR'HO $QR'HUE\ >*@
WKGDP
)/25(17,1(6,E\'DVK)RU&DVK &KDPSLRQ$JHG+RUVH &KDPSLRQ
<HDU2OG )LOO\ &KDPSLRQ $JHG 0DUH %URRGPDUH RI WKH <HDU LQ
ZLQVLQVWDUWV5DLQERZ'HUE\ >*@*ROGHQ6WDWH
'HUE\ >*@/D 3ULPHUD'HO $QR'HUE\ >*@9HVVHOV0DWXULW\ >*@ 4+%&
&KDPS&ODVVLF >*@HWF6LVWHUWR &$/<;6,&KDPSLRQ 67$0(1
6, 67</866, 6+,//,1*6 6, $OHWKLD6,GDP
RI /$'< 7(1$<$6, >*@JUDQGGDPRI '(6,5,2 6,
>5@ >*@KDOIVLVWHUWR ,9(%((1%/(66('6,&KDPSLRQ
52<$/0,5$&
/(',36,'DPRI 7+,6612:,652<$/
6,&KDPSLRQ<HDU2OG&ROW >*@ (9(1,1*612:6,
>*@ $9,6216, >*@ $&+,(9(0(176,
7KLV6QRZ,V0LQH6, 'HLJQ6,JUDQGGDP
RI 9$/-($16,
$FFUHGLWHG2NODKRPD%UHG
5*3
+LS1R
&RQVLJQHGE\-RH%$OOHQ
-$/RQH6WDU/DFH
+LS1R
)HEUXDU\6RUUHO)LOO\
*RO6,
-$/RQH6WDU/DFH
%H%ROG%DE\6,
{
-RG\2 7RROH6,
{ -RG\V*ORU\6,
-HWWD2 7RROH6,
)ORHWWD6,
{ %\<DZO6,
0V 0LWR6,
{
%ROG(SLV RGH6,
{ 'DVK)RU&DVK6,
6RXWKH UQ3ULGH6,
7LPH7R$UU LYH
&DLQH7%
{ 5DLVH
$UU LYH2Q7LPH
%\*2/6,6WDNHVZLQQHURIUDFHV+HULW DJH3ODFH
)XW >*@ 5HWDPD 3DUN )XW >*@ 6LUH RI 520 VWDNHV ZLQQHUV
LQFOXGLQJ6,/9(5*2/6,ZLQV 74+$6DOH)XW
>5*@ *2/69,&725<3236,ZLQV'DVKIRU&DVK -XY
6,6%*2/6,0DQRU'RZQV,QY6>5@-$ *2/6$%/$=,1
6,*2/ 7-.$6,>*@*2/0&$6,>*@
VWGDP
%H%ROG%DE\6,E\%ROG(SLVRGH:LQQHUDWUG 6HTXR\DK
&RXQW\-XYHQLOH6>5@'DPRIIRDOVRIUDFLQJDJH$3+$VWDUWHG
ZLQQHUVLQFOXGLQJ±
-$ *2/6$%/$=,16,FE\*RO ZLQVWR 2NODKRPD
'HUE\175\LQ5RFN\0RXQWDLQ'HUE\ ILQDOLVWLQWKH0LOH
+LJK)XWXULW\ >*@
-$5HG+RW*RO6,JE\*RO:LQQHUWR
-$/XFN\/DG\6,IE\*RO:LQQHUWR
(OYLVV,PDJH$3+$JE\$6KDUSHU,PDJH>3@8QUDFHG$3+$EDUUHOUDF
LQJSRLQWV$3+$5HVHUYH:RUOG&KDPSLRQ$PDWHXU%DUUHO5DFLQJ+RUVH
QGGDP
7,0(72$55,9(E\5DLVH &DLQH7%8QUDFHG'DPRIIRDOVWRUDFHZLQ
QHUVLQFOXGLQJ±
%H%ROG%DE\6,IE\%ROG(SLVRGH6WDNHVSODFHGZLQQHUDERYH
0RYH)RU0RQH\6,JE\0RYLQJ(IIRUW:LQQHUWR
UGGDP
$55,9( 217,0(E\(DV\-HW$UULYH8QUDFHG'DPRIRWKHUIRDOVWRUDFH±
7LPHO\0RRQ6,0RRQ/DUNZLQVDW
WKGDP
358$5<&+,&.(16,E\*RRG%LUG7%:LQQHUDW'DPRIIRDOVWR
UDFH520LQFOXGLQJ±
0$.(0,1(($6<6,(DV\-HWZLQVDWDQG 'HVKOHU
'HUE\QG4XHHQ&LW\'HUE\UG4XHHQ&LW\'RZQV)XWXULW\7KD\HU
&RXQW\/DVVLH6 ILQDOLVW 504+$'HUE\ >*@6HW 175\'DPRI±
%8//(7%8//,216,ZLQVWR5HPLQJWRQ3DUN)XWXULW\
>*@ 0LGZHVW &LW\ 6 >*@ WZLFH 5HG (DUWK + >*@ WZLFH UG
2NODKRPD'HUE\ >*@%LJ6SODVK6 6SHHGKRUVH6SULQW)XWXULW\>5@
HWF'DPRI /LNDVSHHGQ%XOOHW6,
)DVWDVDVSHHGQ%XOOHW6,ZLQVWRQG2NODKRPD%UHG
'HUE\>5@ >*@ ILQDOLVWLQWKH%ODFN*ROG'HUE\>5@ >*@'DPRI±
612:%,*'($/6,ZLQVWR$OO$PHULFDQ'HUE\
>*@175UG&HQWUDO&KDPS&KDOOHQJH >*@ ILQDOLVWLQWKH'DVKIRU
&DVK)XWXULW\ >*@'DVK)RU&DVK'HUE\ >*@
%XIIDOR%D\RX6,ZLQVWRQG3DU$'LFH6>5@6LUH
7LQJD7DQJR6,ZLQVWR86$QG'HUE\ 0H[LFDQR
6KHVPLQH1 6KHVUR\DO6,:LQQHUWR ILQDOLVW>5@ >*@'DPRI±
0\6RXWKHUQ&DUWHO6,ZLQVWR ILQDOLVW>5@ >*@
6KHVDVSHHGLQ%XOOHW8QUDFHG'DPRI±
%URZQ(\H 6X]H6,ZLQVWRQG%XWWRQVDQG%RZV6
>*@ ILQDOLVWLQWKH:HVW7H[DV)XWXULW\ >*@
3UDLULH/DFH(DV\-HW'DPRI (DUOV)RUHYHU0RUH6,
5*3
$FFUHGLWHG2NODKRPD%UHG
+LS1R
&RQVLJQHGE\%XUQV5DQFK$JHQW
)DYRULWHWLPHRIGD\
+LS1R
)HEUXDU\6RUUHO&ROW
)DY RULWH&DUW HO6,
)DYRULWHWLPHRIGD\
'DVK7LOO'DZQ6,
{
)DY RULWH7ULFN7%
{ 3KRQH7ULFN
(YLO(ODLQH
6KHQRVKHUFRURQD6,
U RQD&DUW HO6,
{ &R
6KHQRVKHVSHFLDO6,
{
$&ODVV LF'DVK6,
{ )LUVW'RZQ'DVK6,
&ODVV LF&DQ\ RQ6,
-HW7LOO'DZQ6,
{ 3LQH¶V(DVWHU-HW6,
:KROH'DZQ6,
%\)$925,7(&$57(/6,6WDNHVZLQQHURIUDFHV
$4+$ &KOJ&KDPS>*@/RV$ODPLWRV&KDPS &KOJ>*@+DOIEURWKHUWR
6+(6&+(&.,1802876,+LVILUVWIRDOVDUH\HDUROGVRI6LUHRI
520LQFOXGLQJ/LWWOH7DONV6,ZLQV IQO*RYHUQRU¶V&XS
)XW)LUH$W:LOO6,ZLQV IQO>5*@ /XY2Q7KH5XQ6,
ZLQVUG&DO %UGUV¶)UHVKPDQ>5@3ULVV\&DUWHO6,IQO>*@
VWGDP
'DVK 7LOO 'DZQ 6, E\ $ &ODVVLF 'DVK ZLQV WR UG
:HVW6RXWKZHVW-XYHQLOH&KDOOHQJH >*@'DPRIIRDOVRIUDFLQJDJH
WZRXQVWDUWHG\HDUROGVWRUDFH520LQFOXGLQJ±
'DZQ2I$1HZ'D\6,IE\6HSDUDWLVWZLQVWRQG*RYHU
QRU¶V&XS'HUE\>5@ >*@
6SDQLVK'DVK6,JE\6SDQLVK%RRWZLQVWR
6HSDUDWH5RRPV6,IE\6HSDUDWLVW:LQQHUWR
6SDQLVK%RRW\6,IE\6SDQLVK%RRWZLQVWR ILQDOLVWLQWKH
<DYDSDL'RZQV)XWXULW\ >*@'DPRI±
+LJK %RRW\ 6, J E\ 2Q $ +LJK:LQQHU DW ILQDOLVW LQ WKH
<DYDSDL'RZQV)XWXULW\ >*@
QGGDP
-HW7LOO'DZQ6,E\3LQH¶V(DVWHU-HWZLQVWRUG &DEH]D
GH 9DFD6&RORUDGR%UHHGHUV¶'HUE\>5@ ILQDOLVWLQWKH5DWRQ'HUE\ >*@
(O&DPLQR5HDO+ >*@'DPRIIRDOVWRUDFHDOO520LQFOXGLQJ±
'DVK7LOO'DZQ6,IE\$&ODVVLF'DVK6WDNHVSODFHGZLQQHUDERYH
:LOOLRQDLUH6,JE\:LOOLH :DQWD'DVK:LQQHUWRQG5LR
5LFR)XWXULW\ >*@ ILQDOLVWLQWKH*LOOHVSLH&RXQW\)DLU)XWXULW\ >*@
%OXVKLQJ%XG6,JE\%OXVKLQJ%XJZLQVWR
UGGDP
:+2/('$:16,E\ /DQRYD\:LQQHUDW'DPRIIRDOV520LQFO±
683(5'('26,6XSHU'H .DVZLQVWR(O 7HVRURGH 2UR
'HUE\ 1HZ 0H[LFR -XYHQLOH &KDOOHQJH 7DOO &RWWRQ 6 &RORUDGR
%UHHGHUV¶)XWXULW\>5@QG&RORUDGR6WDOOLRQ%UHHGHUV¶)XWXULW\>5@ >*@
%D\HU/HJHQG6&RORUDGR6WDOOLRQ%UHHGHUV¶'HUE\>5@UG%XWWRQVDQG
%RZV6$XURUD'HUE\>5@ ILQDOLVW >*@'DPRI±
:LOOLH6XSHU6,ZLQVWRUG&KHUU\&UHHN)XWXULW\>5@ >*@
0DGLH5DH6,:LQQHUDW ILQDOLVW 6KXH)O\6>5@ >*@'DPRI±
5DH2I)LUH6,ZLQVWRQG 6XQODQG3DUN:LQWHU
)XWXULW\ >*@ 6XQODQG:LQWHU'HUE\ >*@ ILQDOLVW5DLQERZ'HUE\ >*@
3LQJ3RQJ3DWW\6,:LQQHUDWUG%\%\--6>5@
:KR5DH6,ZLQVWR ILQDOLVWLQWKH=LD'HUE\>5@ >*@
7KUHH:D\)O\HU6,3ODFHGWRLQ0H[LFR'DPRI 6)%UDYH)O\HU6,
LQ0H[LFR 6)7UHH:D\%UDYH
-HW7LOO'DZQ6,3LQH¶V(DVWHU-HW6WDNHVSODFHGZLQQHUDERYH
,P &URZGLQ6,-HW'DQFHZLQVWRUG&RORUDGR6WDOOLRQ%UHHGHUV
6DOH)XWXULW\>5@
$6SHFLDO)OLJKW6,6WUDZIO\6SHFLDO:LQQHUWR'DPRI±
)DOJRXW6SHFLDO6,ZLQVWRUG5LR5LFR)XWXULW\ >*@
6XSHU'H'DZQ6,6XSHU'H .DVZLQVWR
(1*$*(0(176$4+$&KDOOHQJH*ROGHQ6WDWH0LOOLRQ)XW
5*3
(OLJ
LEOHIRU&DO%UHGDFFUHGLW DWLRQHPEU\RWUDQVIHU
+LS1R &RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU5REHUW66DQGUD/%URZQ +LS1R
&DUWHUV)O\&KLFN
)HEUXDU\%D\)LOO\
&DUWHUV&DUW HO6,
&DUWHUV)O\&KLFN
&KLFNV)O\6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
-XPSLQJ 7DF)ODVK6,
{ 7ROOWDF6,
%HDW<RXU3DQWV2II6,
{
&KLFNV5HJ DUG6,
%HGXLQR6,
{ &KLFNV
)LUVW5HJ DUG
7ZR6LFN7R)O\6,
F LDO6,
{ 6WUDZIO\6SH
,OO7HPS HUHG7HH6,
%\&$57(56&$57(/6,&KDPSLRQ\HDUROGFROW
>*@175 6LUH RI VWDNHV ZLQQHUV LQFOXGLQJ &$57(56
&22.,(6,5DLQERZ)XW>*@ 620(7+,1/,.(7+,66,
(DVWH[6>*@&$57(56/$67675$:6,66
3$<',576,>*@&$57(/6)25781(6,
&$57(/526,(6,0U3HUU\&DUWHO6,>*@
VWGDP
&+,&.6 )/<6,E\&KLFNV5HJDUG:LQQHUWR7KLVLVKHUILUVWIRDO
QGGDP
7:26,&.72)/<6,E\6WUDZIO\6SHFLDO:LQQHUDW'DPRI
IRDOVDOO520LQFOXGLQJ±
0$.(0()/<6,JE\0DNH,W$Q\ZKHUHZLQVWR:LOO
5RJHUV'HUE\&KDOOHQJH >*@ ILQDOLVWLQWKH$OO$PHULFDQ)XWXULW\ >*@
+HULWDJH3ODFH'HUE\ >*@
)/<0($1<:+(5( 6,JE\0DNH,W$Q\ZKHUHZLQVWR
,RZD'RXEOH*ROG)XW>5@ >*@-LP %DGHU)XW>5@ >*@3RON &W\'HUE\>5@
7(//+(572)/<6,IE\7HOOHU&DUWHOZLQVWR-LP %DGHU
)XWXULW\>5@UG3RON&RXQW\'HUE\>5@
)O\,Q<RXU&RURQD6,IE\$JRXWL3ODFHGDW ILQDOLVWLQWKH,RZD
'RXEOH*ROG)XWXULW\>5@ >*@-LP %DGHU)XWXULW\>5@ >*@
UGGDP
,//7(03(5('7((6,E\-RG\2 7RROHZLQVWR+LOO&RXQ
WU\6/LYH2DN6QG5HWDPD3DUN'HUE\ >*@6DP+RXVWRQ'HUE\ >*@
'DVKIRU&DVK'HUE\ >*@UG0LOGUHG19HVVHOV0HPRULDO+ >*@'XSOL
FDWH&RS\6'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
5HFNOHVV$QG7UDIILF6,'DVK7KUX7UDIILF:LQQHUWR
WKGDP
7((6+($576,E\5RFNHW¶V0DJLFZLQVWR'DPRIIRDOV
WRUDFHDOOZLQQHUVLQFOXGLQJ±
,//7(03(5('7((6,-RG\27RROH6WDNHVZLQQHUDERYH
&DUU\2Q7HH6,6WUHDNLQ/D-ROODZLQVWR ILQDOLVWLQWKH/RX
LVLDQD%UHHGHUV¶/DVVLH)XWXULW\>5@ >*@'DPRI±
%8556:$55,256,ZLQVWR(DVW'HUE\&KDOOHQJH
>*@'HOWD'RZQV/RXLVLDQD%UHHGHUV¶'HUE\>5@ >*@ +LSRGURPRGH
/DV$PHULFDV6QG0DUGL*UDV'HUE\>5@ >*@UG>*@6HW 175
:$55,25/((6,ZLQVWR 6SHHGKRUVH*ROG&XS)XWX
ULW\>5@ >*@/RXLVLDQD%UHHGHUV¶/DGGLH)XWXULW\>5@ >*@HWF
&$55< 21 '$6+ 6, ZLQV WR /4+%$ -XYHQLOH 6
>5@175QG/RXLVLDQD'RZQV&KDPSLRQV&ODVVLF>5@ >*@UG/HH
%HUZLFN)XWXULW\>5@ >*@'DPRI &DUU\2Q6,
)LUVW'RZQ7HH6,:LQQHUWR'DPRI 7((&+,&6,ZLQVLQ
VWDUWVDW >*@
0LVV*DPH7HH6,ZLQVWR ILQDOLVWLQWKH /4+%$)XWXULW\>5@
>*@'DPRI $*$0('$0(6,>5@ >*@
7HH3LH8QUDFHG'DPRI 6+,1,1*7((3,(6,>5@ >*@
3LFWXUH3HUIHFW7HH6,3RZHU7UDLQZLQVWR'DPRI &5(2/(
:,//,$066, 3LFWXUH3HUIHFW*DPH6,>5@
>*@ '&3RZHU=RRP6,3LFWXUH3DWULRW6,ZLQV
(1*$*(0(176$4+$&KDOOHQJH
5*3
+LS1R
&RQVLJQHGE\%RE0RRUH)DUPV//&$JHQW
6HFUHWV$UH)RUHYHU
+LS1R
$SULO%URZQ&ROW
1R6HF UHWV+HUH6,
6HF UHWV$UH)RUH YHU
5DUHO\)RUH YHU6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
'LFH\6HF UHW6,
F UHW6,
{ 5DLVH$6H
%DQG2I'LFH6,
{
5DUH)RUP6,
Q DW XUH6,
{ 7KH6LJ
(VS HF LDOO\)RU<RX
)RUH YHU6ZHHW6,
{ 0U-HW0RRUH6,
0RRODK0DEOH6,
%\126(&5(76+(5(6,6WDNHVZLQQHURIUDFHV
>*@6LUHRI520VWDNHVZLQQHUVLQFO+$%,766(&5(7
6,6)ORULGD'HUE\6(&5(76)/<6,4+5$
RI,QGLDQD66$)XW)(7&+,1*%($87<6,2NOD)XW>*@
+,*+ 6&+22/ 6(&5(76 6, :56 6(&5(7 '5($0 6, $KD0RPHQW6,ZLQVUG$OO$PHULF
DQ)XW>*@
VWGDP
5$5(/<)25(9(56,E\5DUH)RUP:LQQHUWR'DPRIIRDOV
RIUDFLQJDJHLQFOXGLQJDQXQVWDUWHG\HDUROGWRUDFHZLQQHUVLQFO±
)25(9(5 %5$'*(/,1$ 6, I E\ 6KD]RRP ZLQV WR 5RFN\0RXQWDLQ'HUE\ ILQDOLVW0LOH+LJK)XW >*@$OWRRQD'HUE\ >*@
12&200,70(176,JE\/LNHQRWKLQ\RXHYHUVDZZLQVWR
.DQVDV-DFNSRW)XWXULW\>5@ >*@ ILQDOLVWLQWKH-DFN%URRNV6>5@ >*@
)RXQG$OLYH6,JE\'DVKLQ,V(DV\ZLQVWR ILQDOLVW.DQ
VDV-DFNSRW3UHS)XWXULW\>5@ >*@6HW175DW(XUHND\LQ
QGGDP
)25(9(56:((76,E\0U-HW0RRUH:LQQHUDW+DOIVLVWHUWR 022
/$+ :5$1*/(5 6, 175 52&.(7 0$%/( 6, 'DPRIIRDOVWRUDFH520LQFOXGLQJ±
%5$92+)25(9(56,JE\7KUHH2K¶V:LOGZLQVWR
:HVW7H[DV'HUE\ >*@3UHVFRWW)XWXULW\ >*@3UHVFRWW'HUE\&KDPSLRQ
3UHS6%HUW)DUU)XWXULW\$45$)XWXULW\>5@QG$45$/DGGLH6HWF
%5$92'$6+(56,JE\'DVK)RU&DVKZLQVWR)LUVW
'RZQ'DVK6UG4+%&6RSKRPRUH&ODVVLF >*@-HW'HFN+ >*@
7,1<6%,*%2<6,FE\7LQ\¶V*D\ZLQVWR$45$/DGGLH
6.HYLQ%XUQV0HP)XWXULW\UG1DYDMR&RXQW\)XWXULW\ IQO >*@6LUH
6RFLDO3UR6,FE\)LUVW'RZQ'DVKZLQVWRUG*UDKDP
)DUPV0DWXULW\ ILQDOLVWLQWKH5DLQERZ'HUE\ >*@
6LQIXO6KHQDQLJDQV6,IE\&DVDG\&DVDQRYDZLQVWR IL
QDOLVWLQWKH*ROGHQ6WDWH'HUE\ >*@/DVVLH+ >*@'DPRI 68535,6(
(1',1*6, 6(&5(79,&(66, >*@ 0LOGO\
6LQIXO 6, >*@ 0DOLFH ,Q 'DOODV 6, >*@
JUDQGGDPRI 7HER&UHHN6, >*@ 3ROLF\6WDWHPHQW6,
&UHGLW&DUG4XHHQ6,IE\2Q$+LJKZLQVWR'DPRI±
$9$,/$%/(&5(',7 6,ZLQVWR3DW+\ODQG0HPRULDO+
>*@0RRQVKLQHU+ >*@3DXO%)RUG0HPRULDO6&DO\[6QG >*@
$GMXVWHG&UHGLW6,ZLQVWRUG'LUHFWRU¶V6 ILQDOLVW >*@
/'LDEOR6,:LQQHUWRQG(DV\-HW6>5@ >*@ ILQDOLVW
LQWKH5HPLQJWRQ3DUN2NODKRPD%UHG)XWXULW\>5@ >*@
7KH=RRPLQDWRU6,:LQQHUWRQG)DLU0HDGRZV-XYHQLOH
6 ILQDOLVWLQWKH5HPLQJWRQ3DUN)XWXULW\ >*@
5HJDO5DULW\6,:LQQHUWRQG/DQGRI2]66HW175
:DJRQ2Q&UHGLW6,:LQQHULQ0H[LFRQG3UHPLR$OO$ERXW&DVK
-HVV$4XHHQ6,3ODFHGWRQG)//DG\%XJ6>5@
:LOG0DEOH6,IE\7KUHH2K¶V:LOGZLQVWR'DPRI :,/',7&+6,
>*@ 6WUHDNLQPDEOHVOQ%5=6,
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
5*3
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\*HQWU\)DUPV
)HHOLQJ)LUVW
+LS1R
)HEUXDU\&KHVWQXW&ROW
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
6SLW&XUO-HVV6,
)HHOL QJ)LUVW
'HHOLVK6,
{
{
/LO6SLW&XUO6,
{ 2Q$+LJK6,
6SLW&XUO/DUN6,
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
6XFK$Q(DV\(II RUW6,
F LDO(II RUW6,
{ 6SH
(DV\.LVV6,
%\63,7&85/-(666,6WDNHVZLQQHUZLQVWR+HU
LWDJH 3ODFH 'HUE\ >*@ QG 6SHHGKRUVH 'HUE\ >5*@ HWF %URWKHU WR
3(55<6 63,77,1,0$*(6,6LUHRI520VWDNHV
ZLQQHUVLQFO63,7&85/',9$6,FKDPSLRQ 6SHHGKRUVH
)XW>5*@385('63,76, (DVWH[6>*@(<($63,7
&85/ *,5/ 6, >*@-(66 &85/ 0< 35,=( 6,>*@
VWGDP
'((/,6+6,E\)LUVW'RZQ'DVK &KDPSLRQ<HDU2OG)LOO\ &KDP
SLRQ$JHG0DUHZLQVWR'DVKIRU&DVK)XWXULW\ >*@*R
0DQ*R+ >*@QG7H[DV&ODVVLF)XWXULW\ >*@&KDPSLRQRI&KDPSLRQV
>*@/RV$ODPLWRV&KDPS >*@&DOLI%UHHGHUV0DWURQ6>5@UG/RV
$ODPLWRV:LQWHU&KDPS >*@HWF6LVWHUWR :HVWLQ6, 5LRV6,
'DPRIIRDOVRIUDFLQJDJH$3+$LQFOXGLQJDQXQVWDUWHG\HDUROG
WRUDFH520LQFOXGLQJ±
'((+(,5(666,IE\0U-HVV3HUU\ZLQVWR0LVV3ULQ
FHVV+ >*@$QDKHLP6QG/DV 'DPDV+ >*@UG &KLFDGR96 ILQDO
LVW/RV$ODPLWRV6XSHU'HUE\ >*@*ROGHQ6WDWH'HUE\ >*@'DPRI±
52//,&.,15('6,JE\5ROO+HQQHVV\5ROO7%ZLQVLQVWDUWV
WR&KDOOHQJHU6L[+>5@ 10+$+>5@WZLFH=LD
&KDPS>5@QG10&ODVVLF&XS&KDPS>5@WZLFHHWF
-HVV(\H6,FE\0U(\H2SHQHUZLQVWRQG $QLPDV6
ILQDOLVWLQWKH +REEV$PHULFD'HUE\ >*@
'$('*(6,IE\6HSDUDWLVWZLQVWR/XEERFN6 >*@ IL
QDOLVWLQWKH /RYLQJWRQ+ >*@
'(&$6+$3+$6,5HDO(DV\&DVK>3@ $3+$&KDPSLRQ<HDU2OG
&ROWZLQV0DVWHUSLHFH'HUE\ >*@
0DQKHLPHU6,JE\ +H]D)DVW0DQZLQVWR ILQDOLVW >*@
'DVKDGHHIE\0U-HVV3HUU\8QUDFHG'DPRI±
7)0663(&,$/3(55<6,IE\6SHFLDO/HDGHUZLQVWR
)LUHFUDFNHU)XWXULW\ >*@'DPRI±
1273(55<35(77<6,IE\'DVK7D)DPHZLQVLQVWDUWVDW
)LUHFUDFNHU)XWXULW\ >*@2OG6RXWK)XWXULW\
7) ,P 7KDW *X\ 6, F E\ )LUVW 'RZQ 'DVK :LQQHU DW UG:HVW7H[DV)XWXULW\ >*@
7)&$-81&$57(/6,FE\&RURQD&DUWHOZLQVLQVWDUWVWR
&RURQD&DUWHO65DLQERZ)XW -XY>5@'DVKIRU&DVK -XY>5@
QGGDP
68&+$1($6<())2576,E\6SHFLDO(IIRUWZLQVWR
'HQLP1)XW >*@175HWF+DOIVLVWHUWR .LVV0H+LJK6,
)LVKLQ.LVVHV6, 0LWR.LVV6,GDPRI )/202176,
>*@'DPRI520LQFOXGLQJ±
'((/,6+6,IE\)LUVW'RZQ'DVK &KDPSLRQDERYH
)($5/(66)5('$6,'DVK)RU&DVKZLQVWR7H[DV
&ODVVLF'HUE\ >*@HWF'DPRI )5('5,&.6%85*6,&KDPSLRQ
>*@ )5('$9,//( 6, &KDPSLRQ >*@
'$6+$)5('$6, >*@JUDQGGDPRI +(=$ '$6+$),5(
6,&KDPSLRQ<HDU2OGWR >*@
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
(PEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\%REE\'&R[
.DWKDUVLV
+LS1R
-DQXDU\*UD\)LOO\
$PHULF DQ5XQD ZD\6,
.DWKDUVLV
$OO$ERXW(DVH6,
{
2FHDQ5XQD ZD\6,
{ )LUVW'RZQ'DVK6,
5XQD ZD\:DYH6,
$OODPHULFDQGUHDPJLUO6,
F LDO6,
{ 6WUDZIO\6SH
'DVKLQJ3KRHEH6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
(II RUWOHVV$JDLQ
F LDO(II RUW6,
{ 6SH
'DVK$JDLQ6,
%\$0(5,&$1581$:$<6,&KDPSLRQ\HDUROGFKDPSLRQ
\HDUROGFROWVWDNHVZLQQHURIUDFHV5XLGRVR)XW>*@QG
5DLQERZ)XW>*@7H[DV&ODVVLF)XW>*@+LVILUVWIRDOVDUH\HDUROGV
RILQFO&$5(/(66/,*+71,1*6,ZLQV 74+$6LUHV¶
&XS)XW>5@0LVV%DG.LWW\%ZLQQHU$Q$JLW DWRUUG
:HVW7H[DV -XY,QY>5@6RQRIFKDPSLRQ2&($1581$:$<6,
VWGDP
$// $%287 ($6( 6, E\ )LUVW 'RZQ 'DVK ZLQV LQ VWDUWV WR 5XLGRVR)XWXULW\ >*@UG:HVW7H[DV)XWXULW\ >*@'DPRI
IRDOVRIUDFLQJDJHWRUDFH520LQFOXGLQJ±
=220,1:,7+($6( 6,JE\ $]RRPZLQVWR5DLQERZ
)XWXULW\ >*@UG'DVKIRU&DVK'HUE\ >*@ ILQDOLVW$OO$PHULFDQ'HUE\ >*@
$//$%28772548(6,JE\0U-HVV3HUU\ZLQVWR
+REEV$PHULFD'HUE\ >*@ ILQDOLVWLQWKH=LD3DUN&KDPS6 >*@
$OJRULWKPLF6,JE\,YRU\-DPHVZLQVWRQG7H[DV
&ODVVLF)XWXULW\ >*@ ILQDOLVWLQWKH'DVKIRU&DVK)XWXULW\ >*@
$OO17KH-HDQV6,IE\&RURQD&DUWHOZLQVDWUG.LQGHU
JDUWHQ)XWXULW\ >*@ ILQDOLVWLQWKH(G%XUNH0LOOLRQ)XWXULW\ >*@
0RXQW$UDUDW6,JE\3DQWKHU0RXQWDLQZLQVWRQG0D
SOH/HDI'HUE\
&KDUOHVWRQ6,JE\0U-HVV3HUU\ZLQVWR
'H 0LOOH6,JE\&RURQD&DUWHOZLQVWR
$OO$ERXW-HVVLH6,IE\0U-HVV3HUU\ZLQVWR
7DNRUDGL6,FE\,YRU\-DPHV:LQQHULQVWDUWVDW
:L]DUG2I(DVHFE\&RURQD&DUWHO3ODFHGLQVWDUWVDW
QGGDP
())257/(66$*$,1E\6SHFLDO(IIRUW8QSODFHG6LVWHUWR (/$16 63(
&,$/6, 63(&,$/(/$16,'DPRIVWDUWHUVZLQQHUVLQFOXGLQJ±
$//$%287($6(6,IE\)LUVW'RZQ'DVK6WDNHVZLQQHUDERYH
(QWUXVW6,IE\ 5HODJDWH7%ZLQVWR'DPRI±
(;(&87,9(%5$666,ZLQVWR5XLGRVR'HUE\ >*@
QG)RXU&RUQHUV)XWXULW\ ILQDOLVWLQWKH:HVW7H[DV)XWXULW\ >*@
(;(&87,9(758676,ZLQVWR.LQJ5LFN5DFN6
QG 6XQODQG'LVWDQFH&KDOOHQJH >*@
2XWWD7H[DV6,:LQQHUWRQG$OO$PHULFDQ -XY>5@
UGGDP
'$6+$*$,16,E\'DVK)RU&DVKZLQVDW.LQGHUJDUWHQ
)XWXULW\+DOIVLVWHUWR *5((1($*$,16,RXWRI (/$1$*$,16,
&KDPSLRQ'DPRIIRDOVWRUDFH520LQFOXGLQJ±
(/$1663(&,$/6,6SHFLDO(IIRUWZLQVLQVWDUWVWR
$OO$PHULFDQ)XWXULW\ >*@HWF'DPRI 5($//<63(&,$/ $3+$6,
$3+$:RUOG&KDPSLRQ&KDPSLRQ<HDU2OG>*@ *272
7+(02817$,16,>5@ >*@JUDQGGDPRI &$7&+0(,1
<285'5($06 6,&KDPSLRQ\HDUV >*@ 21(9$/
,$17+(526,WR 1(:/22.6, >*@
5($&+72*(7+(56,ZLQV+RZDUG -RKQVRQV)DOO)XW
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
/RV$ODPLWRV7ZR0LOOLRQ)XW*ROGHQ6WDWH0LOOLRQ)XW
5*3
(PEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\0DUW\3RZHUV$JHQW
6DYYH\
+LS1R
0DUFK&KHVWQXW)LOO\
6SLW&XUO-HVV6,
6DYYH\
)DVW3UL]H6KDQD6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
/LO6SLW&XUO6,
{ 2Q$+LJK6,
6SLW&XUO/DUN6,
{
6KD]RRP6,
{ 7DNLQ2Q7KH&DVK6,
.HHS2Q6KLQLQJ6,
)DVW)LUVW3UL]H6,
{ +H]D)DVW0DQ6,
)LUVW3UL]H'DVK6,
%\63,7&85/-(666,6WDNHVZLQQHUZLQVWR+HU
LWDJH 3ODFH 'HUE\ >*@ QG 6SHHGKRUVH 'HUE\ >5*@ HWF %URWKHU WR
3(55<663,77,1,0$*(6,6LUHRI520VWDNHV
ZLQQHUVLQFO63,7&85/',9$6,FKDPSLRQ6SHHGKRUVH
)XW>5*@385('63,76,(DVWH[6>*@(<($63,7
&85/ *,5/ 6, >*@-(66 &85/ 0< 35,=( 6,>*@
VWGDP
)$6735,=(6+$1$6,E\6KD]RRP:LQQHUWR6LVWHUWR )$67
35,=(=2206, )DVW3UL]H7UDF\6,+HUILUVWIRDOVDUULYHGLQ
QGGDP
)$67),56735,=(6,E\+H]D)DVW0DQZLQVDW+HULWDJH
3ODFH)XWXULW\ >*@6LVWHUWR +(=$)$67'$6+6, >*@
)DVW0DQV3UL]HGDPRI )$6735,=(0,.(6, >*@KDOI
VLVWHU WR ),567 35,=( /((6$ 6, >*@ GDP RI ),567
35,=( 6+$81'$ 6, >*@ ),567 &$52/,1$ 6, >*@GDPRI 06),56735,=(526(6, >*@
&2521$'2&$57(/6, '(19(53$666,
),56735,=(52%,16, >*@ ),56735,=('2&6,
)LUVW3UL]H3HUU\6, >*@ )LUVW3UL]H3DULV6,
)LUVW3UL]H)DQF\6,GDPRI ,0$)$1&<3<&6,
HWF'DPRIIRDOVWRUDFHDOO520LQFOXGLQJ±
)$6735,=(=2206,IE\6KD]RRPZLQVWR:HVW
7H[DV)XWXULW\ >*@1:5\LQ ILQDOLVWLQWKH5DLQERZ)XWX
ULW\ >*@6HW175DW6XQODQG3DUN\LQ
)DVW3UL]H'ROO6,IE\0U-HVV3HUU\ZLQVWRUG+DUUDK¶V
(QWHUWDLQPHQW )XWXULW\ >*@ ILQDOLVW 5HPLQJWRQ )XWXULW\ >*@ 'DP RI
)$6735,=(-25'$16, )DVW3UL]H'ROO7RR6,
0V )DVW )LUVW 3UL]H 6, I E\ '019 0RXQWDEOH ZLQV WR QG:HVW7H[DV'HUE\ >*@ ILQDOLVW7H[DV&ODVVLF'HUE\ >*@
)DVW3UL]H&RXQWU\ 6,ZLQVWRQG'DVWDUGO\'HVHUW'DVK6
)DVW3UL]H7UDF\6,IE\6KD]RRPZLQVWRUG-RH%
7XUQHU0HPRULDO6'DPRI 63,7&85/75(<6,
)DVW3UL]H&RURQD6,IE\&RURQD&DUWHO:LQQHUWR'DPRI±
63,7/,.(-$**(56,ZLQVLQVWDUWVDW6SHHGKRUVH
)XWXULW\ >*@QG+HULWDJH3ODFH-XYHQLOH,QY ILQDOLVWLQWKH%ODFN*ROG
)XWXULW\&KDPS>5@ >*@%ODFN*ROG)XWXULW\ >*@
&U7XFNHUQXFN6,ZLQVWRUG&RURQD&DUWHO
6WDNH ILQDOLVWLQWKH7H[DV&ODVVLF)XWXULW\ >*@5XLGRVR'HUE\ >*@
&KDVLQ0RMR6, :LQQHUWRUG5DLQERZ)XWXULW\-XY>5@
6SLW+LW7KH)DQ6,ZLQVWR
)DVW)O\LQ3UL]H6,IE\6WUDZIO\LQ%XGV:LQQHUWR'DPRI
3DLQWHG'HVLUHV6,ZLQVWR
&RURQDV)DVW3UL]H6,IE\&RURQD&DUWHOZLQVWR IQO >*@
)DVW3UL]H$QJLH6,IE\2DN7UHH6SHFLDO3ODFHGLQVWDUWVDW'DPRI
'$6+,1)25$35,=(6,'DVKIRU&DVK'HUE\ >*@
)DVW3UL]H*LQJHU'DPRI .,77<.$7*$/25(%6,WR
(1*$*(0(176$OO$PHULFDQ5DLQERZ5XLGRVR)XW
5*3
$FFUHGLWHG2NODKRPD%UHG HPEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\%HOOH0HUH)DUP/WG$JHQW
9LYDV%DE\%OXH
+LS1R
0DUFK%D\)LOO\
)DY RULWH&DUW HO6,
9LYDV%DE\%OXH
9LYD/D%OXH6,
{
)DY RULWH7ULFN7%
{ 3KRQH7ULFN
(YLO(ODLQH
6KHQRVKHUFRURQD6,
U RQD&DUW HO6,
{ &R
6KHQRVKHVSHFLDO6,
{
2FHDQ5XQD ZD\6,
{ )LUVW'RZQ'DVK6,
5XQD ZD\:DYH6,
%OXHV*LUO7RR6,
U RQD&DUW HO6,
{ &R
5XQ7KH'DVK6,
%\)$925,7(&$57(/6,6WDNHVZLQQHURIUDFHV
$4+$ &KOJ&KDPS>*@/RV$ODPLWRV&KDPS &KOJ>*@+DOIEURWKHUWR
6+(6&+(&.,1802876,+LVILUVWIRDOVDUH\HDUROGVRI6LUHRI
520LQFOXGLQJ/LWWOH7DONV6,ZLQV IQO*RYHUQRU¶V&XS
)XW)LUH$W:LOO6,ZLQV IQO>5*@ /XY2Q7KH5XQ6,
ZLQVUG&DO %UGUV¶)UHVKPDQ>5@3ULVV\&DUWHO6,IQO>*@
VWGDP
9,9$ /$ %/8( 6, E\ 2FHDQ 5XQDZD\ :LQQHU WR 6LVWHU WR
%/8(6 0$1:216,7KLVLVKHUILUVWIRDO
QGGDP
%/8(6*,5/7226,E\&RURQD&DUWHO :RUOG&KDPSLRQ &KDPSLRQ
<HDU2OG &KDPSLRQ<HDU2OG &KDPSLRQ<HDU2OG)LOO\ &KDP
SLRQ<HDU2OG)LOO\ZLQVLQVWDUWVWR/RV$ODPLWRV
7ZR 0LOOLRQ )XWXULW\ >*@ &KDPSLRQ RI &KDPSLRQV >*@175 \ LQ
*ROGHQ 6WDWH 'HUE\ >*@ 0LOGUHG 1 9HVVHOV 0HPRULDO +
>*@175\LQQG*ROGHQ6WDWH0LOOLRQ)XWXULW\ >*@(G
%XUNH0LOOLRQ)XWXULW\ >*@6LVWHUWR 7+(%/8(6*,5/6, 6KDGHVRI
%OXHV *LUO6,'DPRIIRDOVWRUDFH520LQFOXGLQJ±
%/8(60$1:21 6,JE\2FHDQ5XQDZD\ZLQV7XUI3DUD
GLVH-DFNSRW6'DVWDUGO\'HVHUW'DVK6UG $45$7XUI3DUDGLVH'HUE\
$PRUH/D%OXH6,IE\0U-HVV3HUU\ZLQVWRUG*ROGHQ
6WDWH0LOOLRQ)XW >*@$QDKHLP6 ILQDOLVW*ROGHQ6WDWH'HUE\ >*@
'DVK7RR%OXH6,JE\)LUVW'RZQ'DVKZLQVWR
UGGDP
5XQ7KH'DVK6,E\ 6L[DUXQ %URRGPDUHRIWKH<HDULQZLQVDW
UG 3&4+5$%UHHGHUV¶)XWXULW\ >*@ ILQDOLVW5XLGRVR)XW >*@
'DPRIIRDOVWRUDFH520LQFOXGLQJ±
%/8(6*,5/7226,&RURQD&DUWHO :RUOG&KDPSLRQDERYH
%/8(60$17226,+ROODQG(DVHZLQVWR9HVVHOV0D
WXULW\ >*@QG6JW3HSSHU)HDWXUH+ >*@UG .DWHOOD6
(<(//)22/ <$6,ZLQVWRLQ86ZLQQHUDW
86$ LQ 0H[LFR &ODVLFR (DVLO\ D 3RVVXP >*@ UG &ODVLFR
$0&&&0>5@ >*@0H[LFR'LVWDII&KDOOHQJH'HUE\ 0H[LFDQR'DPRI±
(<(7(//(56,ZLQVDW86$LQ0H[LFR &DPSHRQDWR
-XYHQLOHQG +LSRGURPR'HUE\&KDOOHQJH &ODVLFR &KLULQD *ORU\VHWF
7+(%/8(6*,5/6,&RURQD&DUWHOZLQVDW/HR6UG
/RV$ODPLWRV3UHS+'DPRI &KLFNLH %OX6,>5@ >*@
7KH%OXHV0DQ6,7KLV6QRZ,V5R\DOZLQVDWUG/RV
$ODPLWRV0LOOLRQ)XWXULW\ >*@ ILQDOLVWLQWKH*ROGHQ6WDWH)XWXULW\ >*@
6KDGHV 2I %OXHV *LUO 6, &RURQD &DUWHO ZLQV WR UG
5HPLQJWRQ3DUN2NODKRPD%UHG'HUE\>5@ >*@ ILQDOLVW >*@
%DG1RWLRQ6,7KLV6QRZ,V5R\DO:LQQHUUG6WRFNWRQ'HUE\
0DJLF0RPHQW%OXHV6,&DUWHUV&DUWHO:LQQHUDWQG
.QLJKW7UDQVSRUWDWLRQ)XWXULW\
%OXHV)HUUDUL6,&RURQD&DUWHOZLQVDW ILQDOLVWLQWKH*ROGHQ
6WDWH0LOOLRQ)XWXULW\ >*@
(1*$*(0(176/RV$ODPLWRV7ZR0LOOLRQ)XW*ROGHQ6WDWH0LOOLRQ)XW(G
%XUNH0LOOLRQ)XW
(PEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\5RELFKHDX[5DQFK,QF$JHQWIRU3DXO%:DWVRQ
/LO%LW:DYH
+LS1R
$SULO6RUUHO)LOO\
:DYH&DUYHU6,
/LO%LW:DYH
/LO%LW/HDGHU
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
5XQD ZD\:DYH6,
D ZD\:LQQ HU6,
{ 5XQ
,Q7KH&XUO7%
{
6SHF LDO/HDGHU6,
F LDO(II RUW6,
{ 6SH
0LVV(\H2SHQHU6,
/LO%LW5XVW\6,
{ (DVLO\6PDVKHG6,
5XVW\5RFNHWWH6,
%\:$9(&$59(56,:RUOGFKDPSLRQZLQVLQVWDUWV
/RV$O6XSHU'HUE\>*@%URWKHUWRFKDPSLRQ2&($1581
$:$<6,6LUHRI520VWDNHVZLQQHUVLQFO21(
.22/:$9(6,&DQDGLDQFKDPSLRQ$OO&DQDGLDQ'HUE\
.8+/:$9(6,>*@%8%%$&$59(56,
>*@ 6XGGHQ 7KRXJKWV 6, QG$OO $PHULF
DQ )XW >*@
VWGDP
/,/%,7/($'(5E\6SHFLDO/HDGHU8QUDFHG'DPRIIRDOVRIUDFLQJDJHLQ
FOXGLQJD\HDUROGDOOXQVWDUWHG
QGGDP
/,/%,75867<6,E\(DVLO\6PDVKHGZLQVWR4+%&'LV
WDII >*@3DW+\ODQG+ >*@6W1LFKRODV([SUHVV+ >*@&RRUV)XWXULW\
5HDO:LQG6QG$QQH%XUQHWW+ >*@/DV'DPDV+ >*@6XQODQG)DOO
'HUE\ >*@ /RQJKRUQ )XW >*@ &KDPSLRQ 3UHS 6 &LEROD 6 6DQWD
%DUEDUD6UG9HVVHOV0DW >*@HWF'DPRI520LQFOXGLQJ±
:+26/($9,1*:+2 6,&KLFNV %HGXLQR :RUOG &KDPSLRQ &KDP
SLRQ<HDU2OG*HOGLQJZLQVWR&KDPSLRQRI&KDP
SLRQV >*@/RV$ODPLWRV:LQWHU'HUE\ >*@/RV$ODPLWRV:QWU&KDPS >*@
&2521$6/($9,1*<286,FE\&RURQD&DUWHOZLQVLQVWDUWV
)LUHFUDFNHU)XW >*@QG7H[DV&ODVVLF'HUE\ >*@
:+2/(/27$'$6+6,JE\'DVK)RU&DVKZLQVWR
0H[LFR&KDPS&KDOOHQJH >*@74+$6LUHV¶&XS6>5@
%('8,1265867< 6,&KLFNV%HGXLQRZLQVLQVWDUWVDW
6DP+RXVWRQ)XW >*@'DPRI +(6$/,/%,7+,*+6,>5@
>*@ 5867<648,&.,'6, %5,0)8/6, 6ZHHWHQHG9DQLOOD6,175 5XVW\V)O\HU6,
>*@ %HDW7KLV&KLFN6, 'XVW\5XVW\6,WR
JUDQGGDPRI 48,&.,'&2521$6, >*@175 -(66$/,/
5867<6, >*@ -(66$/,/%,7025(6,
>*@0$(6752&2521$6, 3DLQW0H4XLFNLG6,
>*@ 4XLFNLG3HUU\6, 7KH(DJOH([SUHVV6,
>*@ 3HWH\:KHDW6, %HDW7KLV&KLFN6,
3DLQW0H5XVW\-HVV$/LO%LWGDPRI 5211,(-$0(66,
>*@ 7+(/,==$5'.,1*6, >*@:KRVOHDYLQJ&RURQD6,
GDPRI )($785(05:+26, >*@
:D\'RZQ7RZQ6,FE\)LUVW'RZQ'DVKZLQVQG'HOWD
'DVK ILQDOLVWLQWKH(O3ULPHUR'HO$QR'HUE\ >*@
6KHQRVKHVSHFLDO6,IE\6SHFLDO(IIRUW:LQQHUWR*UDQGGDP
RI )$925,7(&$57(/6, >*@ 6+(6&+(&.,180287
6, +HQRVKHUVHFUHW6, >*@ +HV5HJDO6,
6OXPS%XVWHU6,
/LO%LW'DVK6,'DPRI %2.1$$,6, /LO%LW&XHUYR6,
>*@JUDQGGDPRI *22'/89,16,:KRVOHDYLQJ&RURQD
6,GDPRI )($785(05:+26, >*@
/LO%LW'XWFK6,IE\+ROODQG(DVH:LQQHU'DPRI .22/+$1''87&+
6, $32//2'87&+0$16,>5@ >*@ 1&&
'LWFK:LWFK6, 1&&6ODP'XQN6,
5XVW\V/LO/DG\IE\)UHGULFNVEXUJ8QUDFHG'DPRI 9$/,$17/,//$'<
6, >*@ %8%%$&$59(56, >*@
5*3
+LS1R
&RQVLJQHGE\6WHYH+ROW$JHQWIRU'U&XUWLV6PLWK
5LGLFRORXV*ROG
+LS1R
)HEUXDU\*UD\)LOO\
&DSR'H &DSL6,
5LGLFRORXV*ROG
(\HVD 5LGLFRORXV7R6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
$6KRW$W*ORU\
F LDO6,
{ 6WUDZIO\6SH
%H6R0HUU\6,
{
0U(\H2SHQHU6,
{ 'DVK)RU&DVK6,
%HGDZHH6,
:HVV6WLQN\%DE\6,
'RNH\'DOH6,
{ 2NH\
,DP5LG LFX ORXV6,
%\&$32'( &$3,6,6WDNHVZLQQHURIUDFHV+HUL WDJH3ODFH'HUE\>*@+LVILUVWIRDOVDUH\HDUROGVRI6LUHRIZLQ
QHUVLQFO7+(6(5*(3527(&7256,2NOD)XW,QY :LQQ
-HW &DSRGH(O&DSR'H &DPSHRQHV6RQRI&2521$
&$57(/VLUHRI%/8(6*,5/7226,ZRUOGFKDPSLRQ
>*@7(//(5&$57(/6,&$57(56&$57(/6,
VWGDP
(<(6$ 5,',&2/286726,E\0U(\H2SHQHU:LQQHUWR7KLV
LVKHUILUVWIRDO
QGGDP
:(6667,1.<%$%<6,E\2NH\ 'RNH\'DOHZLQVDW'DPRI
IRDOVWRUDFH520LQFOXGLQJ±
6KD]RRP'XGH6,JE\6KD]RRP:LQQHUWRUG/DG\
%XJ¶V0RRQ6>5@
(\HVDROGFRXQWU\JDO6,IE\0U(\H2SHQHU:LQQHUWR
)O\%\H6SHFLDO6,JE\ 'DVKLQ%\HZLQVWR
&DOO0H)O\HU6,IE\)O\-HVV)O\:LQQHUWR
UGGDP
,$05,',&8/2866,E\%XOO\%XOOLRQZLQVDW%OXH5LEERQ
)XWXULW\ >*@'DPRIIRDOV520LQFOXGLQJ±
(<(6$ 67250 722 6, 0U (\H 2SHQHU ZLQV WR (DVWH[ + >*@ QG %RE 0RRUH 0HPRULDO 6 >*@ 2NODKRPD %UHG
&KDPS >5@ UG 2NODKRPD &KDPS &KDOOHQJH >*@ ILQDOLVW LQ WKH
5HPLQJWRQ3DUN,QY&KDPS >*@ (DVWH[+ >*@ 6SHHGKRUVH'HUE\>5@
>*@%RE0RRUH0HPRULDO6 >*@*ROGHQ'ULOOHU6 >*@ TXDOLILHGWR
5HPLQJWRQ 3DUN )XWXULW\ >*@ 6HW 175 DW )DLU 0HDGRZV \ LQ
05 $*867$/6,0U(\H2SHQHUZLQVWR+RRVLHU3DUN
&ODVVLF69LUJLO%RQG6QG2NODKRPD'HUE\ >*@ UG6RRQHU
6WDWH 6 >5@ ILQDOLVW LQ WKH &HQWUDO &KDPS &KDOOHQJH >*@ 2NODKRPD
'HUE\&KDOOHQJH >*@6RRQHU6WDWH6>5@ >*@ (DVWH[+ >*@
+H]D)DVW1 7XII6,+H]D)DVW0DQZLQVWR ILQDOLVWLQWKH
%OXH5LEERQ)XWXULW\ >*@%OXH5LEERQ'HUE\ >*@
WKGDP
21()2502216,E\7RS0RRQZLQVWR'DPRIIRDOVWR
UDFHDOOZLQQHUVLQFOXGLQJ±
&$0(2&$55,(56,0RQH\3LHZLQVWR%OXH5LEERQ
'HUE\ >*@QG2NODKRPD)XWXULW\ >*@ ILQDOLVWLQWKH%OXH5LEERQ)XWX
ULW\ >*@2NODKRPD'HUE\ >*@
,$05,',&8/2866,%XOO\%XOOLRQ6WDNHVZLQQHUDERYH
2QH/XFN6,/XFNV*D\&KLF:LQQHUWR
$FFUHGLWHG2NODKRPD%UHG
5*3
+LS1R
&RQVLJQHGE\*HQWU\)DUPV
.LVV0\+HLQHNHQ
+LS1R
)HEUXDU\%D\&ROW
&DUWHUV&DUW HO6,
.LVV0\+HLQHNHQ
)UHGDYLOOH6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
-XPSLQJ 7DF)ODVK6,
{ 7ROOWDF6,
%HDW<RXU3DQWV2II6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
)HDUOHVV)UHGD6,
{ 'DVK)RU&DVK6,
6XFK$Q(DV\(II RUW6,
%\&$57(56&$57(/6,&KDPSLRQ\HDUROGFROW
>*@175 6LUH RI VWDNHV ZLQQHUV LQFOXGLQJ &$57(56
&22.,(6,5DLQERZ)XW>*@ 620(7+,1/,.(7+,66,
(DVWH[6>*@&$57(56/$67675$:6,66
3$<',576,>*@&$57(/6)25781(6,
&$57(/526,(6,0U3HUU\&DUWHO6,>*@
VWGDP
)5('$9,//(6,E\0U-HVV3HUU\ &KDPSLRQ$JHG0DUHZLQVWR
'LVWDII &KOJ&KDPS >*@ 'HFNHWWD6 >*@/RV$ODPLWRV'LV
WDII &KOJ >*@5HPLQJWRQ'LVWDII &KOJWZLFH&LW\RI+LDOHDK66SDUNOLQJ
7LS6175\LQQG'LVWDII &KOJ&KDPS >*@-XQR¶V5HTXHVW
6 >*@/DV 'DPDV+ >*@+LDOHDK,QY&KDPS4XHHQ&LW\'DVKUG0LO
GUHG9HVVHOV+ >*@&KDUJHU%DU+ >*@+LDOHDK,QY&KDPS0HPEHUV
3OXV66LVWHUWR )5('5,&.6%85*6, '$6+$)5('$6, 'DPRI
IRDOVRIUDFLQJDJHLQFOXGLQJD\HDUROGERWKVWDUWHGLQFOXGLQJ±
5XQDZD\+XUULFDQHJE\2FHDQ5XQDZD\3ODFHGWR
QGGDP
)($5/(66)5('$6,E\'DVK)RU&DVKZLQVWR7H[DV
&ODVVLF'HUE\ >*@ 4+%&&KDPS >*@5HWDPD'HUE\ >*@175\LQ
QG9HVVHOV0DWXULW\ >*@ %DUGHOOD6UG$OO$PHULFDQ'HUE\
>*@ 0LOGUHG 9HVVHOV + >*@ HWF 6LVWHU WR 6XFK (DV\ &DVK 6, >*@ KDOI VLVWHU WR '((/,6+ 6, &KDPSLRQ <HDU2OG
)LOO\&KDPSLRQ$JHG0DUH >*@GDPRI '((+(,5(666,
>*@'$('*( 6,>*@ '(&$6+>$3+$@6,
$3+$&KDPSLRQ<HDU2OG&ROWJUDQGGDPRI 52//,&.,15('6,
7)0663(&,$/3(55<6, >*@ :HVWLQ6,
5LRV6,2XWRI 68&+$1($6<())2576,
>*@175'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
)5('5,&.6%85*6,FE\0U-HVV3HUU\ &KDPSLRQ$JHG6WDOOLRQ
ZLQVWR7KH&KDPS$W 6XQODQG >*@5HIULJHUDWRU+ >*@
(DVW'HUE\&KDOOHQJH >*@+HDUWEHDWRI$PHULFD+>5@ >*@HWF6LUH
)5('$9,//(6,IE\0U-HVV3HUU\ &KDPSLRQDERYH
'$6+$)5('$6,IE\0U-HVV3HUU\ZLQVWR&DOLIRUQLD
'HUE\&KDOOHQJH >*@QG/D 3ULPHUD'HO $QR'HUE\ >*@ ILQDOLVW >*@
'DPRI +(=$ '$6+$),5(6,&KDPSLRQ<HDU2OG*HOGLQJ ZLQVLQVWDUWVDW*ROGHQ6WDWH0LOOLRQ)XW >*@(G%XUNH0LO
OLRQ)XW >*@ +(=$)($5/(66'$6+(56, ,0$)($5
/(66+(526,ZLQVLQVWDUWVDW
)HDUOHVV)ULW]6,FE\6KD]RRPZLQVWRUG'DVKIRU
&DVK'HUE\ >*@ ILQDOLVWLQWKH$OO$PHULFDQ'HUE\ >*@
)UHGRQD6,IE\&RURQD&DUWHOZLQVWRQG:HVW7H[DV
'HUE\ >*@ ILQDOLVWLQWKH5XLGRVR)XWXULW\ >*@
+DUULVEXUJ6,$]RRPZLQVWRQG $UDSDKRH'HUE\ &KOJ
)HDUOHVV&KLFN6,IE\&KLFNV %HGXLQRZLQVWR'DPRI
)81$:$< 6, $LUL]RQ 6, JUDQGGDP RI
)HDUOHVV&DW6,WR >*@
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
/RV$ODPLWRV7ZR0LOOLRQ)XW
(PEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\%HOOH0HUH)DUP/WG$JHQW
(\HPD7H[DV&RZER\
+LS1R
-DQXDU\%URZQ&ROW
&DSR'H &DSL6,
(\HPD7H[DV&RZE R\
;
(\HPD7H[DV/DG\
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
$6KRW$W*ORU\
F LDO6,
{ 6WUDZIO\6SH
%H6R0HUU\6,
{
0U(\H2SHQHU6,
{ 'DVK)RU&DVK6,
%HGDZHH6,
7H[DV/DG\3DVV LRQ6,
L VHG3DVV LRQ6,
{ 3URP
=RDQQLH6,
%\&$32'( &$3,6,6WDNHVZLQQHURIUDFHV+HUL WDJH3ODFH'HUE\>*@+LVILUVWIRDOVDUH\HDUROGVRI6LUHRIZLQ
QHUVLQFO7+(6(5*(3527(&7256,2NOD)XW,QY :LQQ
-HW &DSRGH(O&DSR'H &DPSHRQHV6RQRI&2521$
&$57(/VLUHRI%/8(6*,5/7226,ZRUOGFKDPSLRQ
>*@7(//(5&$57(/6,&$57(56&$57(/6,
VWGDP
(<(0$7(;$6/$'<E\0U(\H2SHQHU8QUDFHG6LVWHUWR 3$66,21586+
6,'DPRIIRDORIUDFLQJDJH±
7RQV$7H[DVJE\ %ULPPHUWRQ:LQQHULQVWDUWVDW
QGGDP
7H[DV/DG\3DVVLRQ6,E\3URPLVHG3DVVLRQZLQVWRUG
.DQVDV )XWXULW\ >*@ ILQDOLVW LQ WKH .DQVDV 'HUE\ >*@ 0DQRU 'RZQV
/DVVLH)XWXULW\ >*@ (75DW5HPLQJWRQ3DUN\LQ'DPRI
IRDOVWRUDFHZLQQHUVLQFOXGLQJ±
3$66,21 586+ 6, J E\ 0U (\H 2SHQHU ZLQV WR 2NODKRPD -XYHQLOH &KDOOHQJH >*@ QG +HULWDJH 3ODFH 'HUE\ >*@
$4+$ -XYHQLOH &KDOOHQJH &KDPS >*@ *DOREDU 6 ILQDOLVW LQ WKH
6SHHGKRUVH)XWXULW\>5@ >*@
3$66,21)25&2521$6,IE\&RURQD&DUWHOZLQVWR
)//DG\%XJ6>5@QG5HPLQJWRQ3DUN2NODKRPD%UHG'HUE\>5@UG
%ODFN *ROG )XWXULW\ 3ULVV\ *ROG 'LJJHU 6 >5@ ILQDOLVW LQ WKH
5HPLQJWRQ3DUN)XWXULW\ >*@
3DVVLRQ5DJLQJ2Q6,FE\0U-HVV3HUU\ZLQVLQVWDUWVDW
ILQDOLVW+HULWDJH3ODFH)XWXULW\ >*@'DVK)RU&DVK)XWXULW\ >*@
+XUULHG5RPDQFH6,JE\0U(\H2SHQHUZLQVWR6HW 175
(\HPD7H[DV/DG\IE\0U(\H2SHQHU8QUDFHG'DPRI±
7RQV$7H[DV:LQQHULQVWDUWVDW
UGGDP
=2$11,(6,E\ =HYL7%:LQQHUDW'DPRIIRDOVWRUDFHDOO520±
7H[DV/DG\3DVVLRQ 6,3URPLVHG3DVVLRQ6WDNHVSODFHGZLQQHUDERYH
(\H2SHQHU%HQWOH\6,0U(\H2SHQHU:LQQHUWR ILQDOLVWLQ
WKH1HZ0H[LFR-XYHQLOH&KDOOHQJH >*@'DPRI±
0$.(,7%(17/(<6,ZLQVWR%ODFN*ROG&KDPS)X
WXULW\>5@ >*@0U-HW0RRUH+>5@QG2NODKRPD+RUVHPHQ¶V$VVRF
)XWXULW\>5@ >*@UG6RRQHU6WDWH6>5@ >*@%ODFN*ROG)XWXULW\
)HDWXUH0U%HQWOH\6,ZLQVWR
5HG5LYHU&URVVLQJ6,6WUHDNLQ/D-ROODZLQVWR ILQDOLVWLQ
WKH5XLGRVR)XWXULW\ >*@
)XUE\6,5R\DO4XLFN'DVK:LQQHUWR'DPRI±
5%' -HVVDVZLQJLQ6,ZLQVDWDQG
+HVD+RRW6,ZLQVWR
WKGDP
+227$1$11,($11,(6,E\6LQQ)HLQ3ODFHGDW+DOIVLVWHUWR 7KH
1XPEHUV*DPH6,+RQHVW,QYHVWPHQWGDPRI ($6,/<+21(676,
>*@'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
'RUDPH6,=HDORXVZLQVUG 6HTXR\DK&RXQW\ -XY>5@
6HQDWRU 3RWWV6,2Q$+LJKZLQVWR
$FFUHGLWHG2NODKRPD%UHG
5*3
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU:DOW3DW)OHWFKHU
,PD 5DPEOLQ(DJOH
+LS1R
0DUFK%D\&ROW
2QH'DVKLQJ(DJ OH6,
,PD 5DPEOLQ(DJ OH
,PD 5DPEOLQ*LUO6,
{
2QH)DP RXV(DJ OH6,
{ 0U-HVV3HUU\6,
2QH)DP RXV/DG\6,
2QH6ZHHW'DVK6,
{ )LUVW'RZQ'DVK6,
6ZHHW %HGXLQR6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
.LSW\V.LVVHV6,
{ .LSW\V&KDUJHU6,
.HOO\V.LVVHV6,
%\21('$6+,1*($*/(6,:RUOGFKDPSLRQFKDPSLRQ\HDU
ROGFKDPSLRQ\HDUROGFROWVWDNHVZLQQHURIUDFHVLQVWDUWVDW
$OO $PHULF
DQ )XW >*@ *ROGHQ 6WDWH 0LOOLRQ )XW >*@ (G
%XUNH0LOOLRQ)XW>*@+DOIEURWKHUWR21(6:((7-(666,+LVILUVW
IRDOVDUH\HDUOLQJVRI6RQRIFKDPSLRQ21()$0286($*/(6,
VLUHRIVWDNHVZLQQHUVFKDPSLRQVLQFOXGLQJ21('$6+,1*($*/(
VWGDP
,0$ 5$0%/,1 *,5/ 6, E\ )LUVW 'RZQ 'DVK &KDPSLRQ <HDU2OG
)LOO\ZLQVWR'DVKIRU&DVK'HUE\ >*@-RH%7XUQHU0H
PRULDO6$OO$PHULFDQ 2YHUQLWH6QG'DVKIRU&DVK-XYHQLOH>5@ >*@
*DUUHWW¶V0LVV 3DZKXVND6&HQWUDO'LVWDII&KDOOHQJH6RRQHU7UDLOHU6
UG'LVWDII&KDOOHQJH&KDPS >*@ ILQDOLVW+HULWDJH3ODFH'HUE\ >*@6HW
175DW3UDLULH0HDGRZV\LQ6LVWHUWR ),56772 5$0%/(
6,'DPRIIRDOVRIUDFLQJDJHWRUDFH520LQFOXGLQJ±
5DPEOLQ &DUWHO 6, J E\ &DUWHUV &DUWHO :LQQHU WR QG
6XQODQG3DUN:LQWHU)XWXULW\ >*@
+D&KL0DPD 6,IE\ $]RRPZLQVWRUG6XQVKLQH6WDWH6
&PRQ0DQ6,FE\&RURQD&DUWHOZLQVWRUG7DOODKDVVHH6
QGGDP
.,37<6.,66(66,E\ .LSW\V&KDUJHUZLQVLQVWDUWVWR
&RRUV'LVWULEXWRUV'HUE\ >*@-HW'HFN+ >*@:DOWHU 0F,OKHQQ\6WDUV
6WULSHV6QG3DFLILF+ >*@HWF+DOIVLVWHUWR .,660(5($/($6<6,
GDPRI 6+(=$1(21526(6,JUDQGGDPRI +28',1,
6,WR $',260<$0,*266,>5@
>*@ 3+27260$576, >*@ 2./$+20$ %$1','26,
>*@ 3$17+(5,17+()$67/$1( 6, 'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
,0$ 5$0%/,1*,5/6,IE\)LUVW'RZQ'DVK &KDPSLRQDERYH
+(=$ 5$0%/,1 0$1 6, J E\ 7DNLQ 2Q 7KH &DVK ZLQV WR /RV$ODPLWRV&KDPS >*@WZLFH-XYHQLOH&KDOOHQJH&KDPS
>*@ 2NODKRPD &KDPS &KDOOHQJH >*@ WZLFH &DOLIRUQLD &KDOOHQJH
&KDPS >*@0LGZHVW&LW\6 >*@(75\LQ7ZR5LYHUV6
>*@:HVW6RXWKZHVW-XYHQLOH&KDOOHQJHQG5HPLQJWRQ)XWXULW\ >*@
&KDOOHQJH&KDPS >*@$OO$PHULFDQ'HUE\ >*@
),567725$0%/(6,JE\)LUVW'RZQ'DVKZLQVWR
.LQJ 5LFN 5DFN 6 >*@ 2NODKRPD 'LVWDQFH &KDOOHQJH >*@ &RYHUHG
%ULGJHV6 >*@&HQWUDO'LVWDQFH&KDOOHQJH >*@5HPLQJWRQ'LVWDQFH+
WZLFH%LJ%DGJHU%DU6WZLFH2NODKRPD'LVWDQFH&KDOOHQJHHWF
.LVVHV7HDVSRRQ 6,IE\(DV\-HWZLQVWRQG0RRUH6
/D]\( 1DW¶O 4+-RFNH\&KDPSUG2NOD)XW >*@HWF'DPRI /,7
7/(%,72)$++$6, >*@JUDQGGDPRI /($9,1*7+(
68*$56, '5($0,1*2).,66(66, >*@
7ULFN2I7KH(\H6,ZLQVWRUG%OXH5LEERQ'HUE\ >*@
.LVVHV)RU&DVK6,IE\&DVK/HJDF\ZLQV'DPRI .,66(6$1<
:+(5(6, %XHQR 0LVTXLWR6, IQO>5@ >*@
6KH]D 5DPEOLQ7RR6,IE\ 7DNLQ2Q7KH&DVKZLQV'DPRI 6+(=
48,&.725$0%/(6,ZLQVLQVWDUWVDW
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
5*3
$FFUHGLWHG2NODKRPD%UHG
+LS1R
+LS1R
&RQVLJQHGE\/DUU\++XJKHV(VWDWH
)URVW 'DOHQD
$SULO*UD\)LOO\
&KLFNV5HJ DUG6,
)URVW 'DOHQD
)RUFHG7R:LQ6,
{
&KLFNV %HGXLQR6,
{ %HGXLQR7%
$&ODVV\&KLFN6,
)LUVW5HJ DUG
{ )LUVW'RZQ'DVK6,
5HJ DUG6,
{
0DMRU5LPH6,
{ 5LPH6,
0DU\0DMRU6,
7UX)RUFH6,
{ 0HJDIRUFH6,
(DV\0DJGDOHQD
%\&+,&.65(*$5'6,6WDNHVZLQQHURIUDFHV+HDG
3LQ+ IQO>*@6LUHRI520VWDNHVZLQQHUVLQFO5(
*$5':,7+5(63(&76,ZLQV2.)XW>5*@<281
+2:0$1<025(6, +REEV$PHULFD)XW>*@$675($.
5(*$5'6,=LD)XW>5*@065(*$5'6,
>5*@81&29(5('5(*$5'6,>*@612:5(*$5'
VWGDP
)25&(' 72 :,1 6, E\ 0DMRU 5LPH ZLQV WR 6LVWHU WR
0HDJDQ)RUFH6,'DPRIIRDOVRIUDFLQJDJHLQFOXGLQJD\HDUROG
DOOVWDUWHGZLQQHUV±
+LW:LWK)RUFH6,JE\+DUG+LWWLQJZLQVWRQG
6KXH)O\6>5@ >*@ ILQDOLVWLQWKH1HZ0H[LFR&ODVVLF)XWXULW\>5@ >*@
=LD'HUE\>5@ >*@1HZ0H[LFR +%$6WDNHV>5@ >*@
7UXFN7R:DYHV6,JE\:DYH&DUYHUZLQVWR
QGGDP
7UX)RUFH6,E\ 0HJDIRUFHZLQVWRQG5HDO:LQG6=LD
6RSKRPRUH &KDPS >5@ UG 3HOLFDQ 6 >5@ ILQDOLVW LQ WKH 1HZ 0H[LFR
%UHHGHUV¶'HUE\>5@ >*@1HZ0H[LFR6WDWH)DLU6HQRULWD)XWXULW\>5@ >*@
6LVWHUWR 0RIRUFH6, 'RQW /HDYH0H2XW6,'DPRIIRDOVWRUDFH
ZLQQHUVLQFOXGLQJ±
%OD]LQ)RUFH6,IE\&KLFNV$ %OD]LQZLQVWRQG1HZ
0H[LFR +%$6>5@ >*@UG 6KXH)O\6>5@ >*@ ILQDOLVWLQWKH 6XQODQG
10%UHG,QY+>5@ >*@'DPRI±
0LVV %OD]LQ)LUVW6,3ODFHGWR ILQDOLVWLQWKH1HZ0H[
LFR&ODVVLF)XWXULW\>5@ >*@
0HDJDQ)RUFH6,IE\0DMRU5LPHZLQVWRQG1HZ0H[
LFR6WDWH)DLU6HQRULWD)XWXULW\>5@ >*@/RX :RRWHQ,QY+>5@
6KD +RR\ +RR\6,IE\0DMRU5LPH:LQQHUWR'DPRI±
612:5(*$5'6,ZLQVWR1HZ0H[LFR)LOOLHV0DUHV
&KDPS>5@ >*@6XQEXUVW6>5@QG/RX :RRWHQ+>5@ >*@1HZ
0H[LFR6WDWH)DLU6HQRULWD)XWXULW\>5@ >*@-LPP\'UDNH6>5@UG
/RX :RRWHQ6\GQH\ 9DOHQWLQL+>5@
UGGDP
($6<0$*'$/(1$E\6L[ )ROV8QSODFHGLQVWDUWV'DPRIIRDOVDOO
520LQFOXGLQJ±
0RIRUFH6,0HJDIRUFHZLQVWRQG6DQWD)H'RZQV)X
WXULW\>5@ >*@6DQWD)H'RZQV'HUE\>5@ >*@UG=LD)XWXULW\>5@ >*@
7UX)RUFH6,0HJDIRUFH6WDNHVSODFHGZLQQHUDERYH
'RQW/HDYH0H2XW6,0HJDIRUFHZLQVWRQG1HZ0H[LFR
6WDWH)DLU6HQRULWD)XWXULW\>5@ >*@6DQWD)H'RZQV'HUE\>5@ >*@=LD
'HUE\>5@ >*@'DPRI±
1LNV.QRZ.QRZ6,ZLQVWRQG1HZ0H[LFR%UHHGHUV¶
+>5@ >*@ $QLPDV6 ILQDOLVW1HZ0H[LFR&ODVVLF&KDPS>5@ >*@
'RQW/HDYH0H1RZ6,ZLQVWR
(DV\*R5LPH6,%ULJDGLHU5LPHZLQVDWQG3HOLFDQ6
>5@ ILQDOLVWLQWKH1HZ0H[LFR%UHHGHUV'HUE\>5@ >*@
*ORU\)RUFH6,%ULJDGLHU5LPHZLQVWR
(1*$*(0(176$4+$&KDOOHQJH
5*3
$FFUHGLWHG1HZ0H[LFR%UHG
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU(ULQ.QR[
)DPH,Q5LR
+LS1R
0DUFK*UD\)LOO\
%LJ'DGG\&DUW HO6,
)DPH,Q5LR
5LII7D)DPH6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
0LVV5DF\(\HV6,
{ 0U(\H2SHQHU6,
0LVV5DF\9LNH6,
{
'DVK7D)DPH6,
{ )LUVW'RZQ'DVK6,
6XGG HQ)DPH6,
'DVKLQ6DQG\6,
{ 6WUHDNLQ'DVK6,
6\QFKURFHSW6,
%\%,*'$''<&$57(/6,:LQQHURIUDFHVLQVWDUWV
IQO$OO$PHULF
DQ)XW>*@5DLQERZ)XW>*@+DOIEURWKHUWR5$&</$
-2//$6,+LVILUVWIRDOVDUH\HDUOLQJVRI6RQRI&2521$&$5
7(/6,VLUHRIVWDNHVZLQQHUVLQFOXGLQJ%/8(6*,5/7226,
ZRUOGFKDPSLRQ>*@7(//(5&$57(/6,FKDPSLRQ
>*@),9(%$5&$57(/6,FKDPSLRQ>*@)O\LQJ)LJ
VWGDP
5,))7$)$0(6,E\'DVK7D)DPH3ODFHGWR6LVWHUWR 6DQG\V
)DPH6, )DPRXV6DQG\6,'DPRIIRDOVRIUDFLQJDJHLQFOXGLQJ
DQXQVWDUWHG\HDUROGWRUDFH±
6ZLVV5LII6,JE\6ZLVVOH6WLFN7%3ODFHGDW
QGGDP
'$6+,16$1'<6,E\6WUHDNLQ'DVKZLQVWR'LDPRQG
&ODVVLF)XWXULW\>5@ >*@175\LQ ILQDOLVWLQWKH*ROGHQ6WDWH
)XWXULW\ >*@+DOIVLVWHUWR 6,5=(9,675$866,>5@>*@
+LJKV$QG/RZV6, >*@2XWRI 6<1&+52&(376,
175'DPRIIRDOVWRUDFH520LQFOXGLQJ±
&+$03$*1(/$1(6,IE\/DQHV/HLQVWHUZLQVLQVWDUWVWR
'LDPRQG&ODVVLF)XWXULW\>5@ >*@/D3ULPHUD'HO$QR'HUE\ >*@
7RZQ3ROLF\+ >*@UG6LOYHU'ROODU)XW>5@ >*@ ILQDOLVW >*@'DPRI±
$/,&(.:+,7(6, &KDPSLRQ<HDU2OG)LOO\ZLQVWR
*ROGHQ 6WDWH 'HUE\ >*@ HWF 'DP RI $67,&$ 6, WR 175 7XVFDQ5HGG6,WR>5@ >*@
.(1'$//-$&.6216,ZLQVWR1HZ0H[LFR&KDPS
&KDOOHQJH >*@WZLFH1:5RQFH:HVW7H[DV'HUE\ >*@HWF
=8&&$5', 6,ZLQVLQVWDUWVDW0RXQWDLQ7RS)XW>5@ >*@
:,/021 6,:LQQHUWR*ZHQGRO\Q(DYHV6>5@ ILQDOLVW>5@ >*@
-(6621(/22.(6,ZLQVDW$45$7XUI3DUDGLVH)XW
&RQQ&UHHN 6,ZLQVWRUG1HZ0H[LFDQ6SULQJ)XW>5@ >*@
0DULO\Q 0HUORW 6, ZLQV WR UG 3HOLFDQ 6 >5@ 'DP RI
:,11,1*0(5/276,WR>5@ >*@ 0DULO\Q:LQV
6,DWUG0RXQWDLQ7RS)XWXULW\>5@ >*@
-HVV6DQG\-U6,FE\-HVVH-DPHV-UZLQVWRQG
$QLPDV6UG1HZ0H[LFR%UHHGHUV6>5@ >*@
6DQG\V)DPH 6,'DVK7D)DPHZLQVDWQG'LDPRQG&ODV
VLF)XWXULW\>5@ >*@'DPRI 6$1'<6-(66(6,>5@ >*@
/DJDULD6, %ULGJHWWH%RUGHDX[6,>5@>*@
JUDQGGDPRI -81,25-81(%8*6, >*@ 6$00<-$0(6
6,ZLQVLQVWDUWVDW -(66%25'($8;6,ZLQVLQ
VWDUWVWR>5@>*@ +('*()81'6,ZLQVLQVWDUWV
%UDQFRWW6,>5@>*@
)DPRXV6DQG\6,IE\'DVK7D)DPH:LQQHUDWUG8WDK
&ODVVLF)XWXULW\>5@ >*@'DPRI )DPRXV6LJQDWXUH6,
7DQJOHG9LQHV6,IE\'DVK7D)DPHZLQV'DPRI 5(;+,//6,
>5@ >*@ 8QWDQJOHG9LQHV6,>5@ >*@ 0HUU\YDOH
6,>5@ >*@
)LQH:LQHV6,)LUVW'RZQ'DVKZLQVWR IQO >*@'DPRI 21(
025(*/$662):,1( 6, >*@ 0U3HUU\V:LQH6,
5*3
(1*$*(0(176$4+$&KDOOHQJH
+LS1R
&RQVLJQHGE\*UDQDGD)DUPV$JHQWIRU5REHUWRU.DUHQ1XQQDOO\
1HFHVVDULO\$UURJDQW
+LS1R
$SULO6RUUHO&ROW
0U-HVV3HUU\6,
1HFH VV DULO\$UU RJ DQW
&RU RQD0RQ $PLH6,
{
6WUHDNLQ/D-ROOD6,
{ 6WUHDNLQ6L[6,
%RWW RP¶V8S6,
6FRRSLH)HLQ6,
{ 6LQQ)HLQ6,
/HJV/D6FRRS6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
&KHFN,W7R(P0LVV6,
{ &KHFN7KH&KDUWV6,
6KRZXP7R,W0LVV6,
%\05-(663(55<6,&KDPSLRQ\HDUROG>*@6LUH
RI520VWDNHVZLQQHUVLQFOFKDPSLRQV 0$7$%$5,
6,ZLQV/RV$ODPLWRV)XW>*@ $32//,7,&$/-(666,
ZRUOGFKDPSLRQ/RV$ODPLWRV6XSHU'HUE\>*@21(
)$0286($*/(6,/RV$ODPLWRV)XW>*@ 12&21,6,
>*@0,665$&<-(666,>*@ )5('5,&.6%85*
VWGDP
&RURQD0RQ $PLH6,E\&RURQD&DUWHOZLQVWRUG(DVW'LV
WDII&KDOOHQJH >*@5R\DO %XVKZDFNHU6'DPRIIRDOVRIUDFLQJDJHLQ
FOXGLQJDQXQVWDUWHG\HDUROGWRUDFHDOO520LQFOXGLQJ±
6$17(021 $0,(6,IE\7RDVW7R'DVKZLQVWR0DUGL
*UDV)XWXULW\>5@ >*@
&DGLOODF.LQG6,JE\3DQWKHU0RXQWDLQZLQVWR
+LFODVV+XQWUHVV6,IE\ +LFODVV/D-ROOD:LQQHUWR
QGGDP
&+(&.,772(00,666,E\&KHFN7KH&KDUWVZLQVWR
9HVSHUR([SUHVV6 >*@7ULQLW\<HDUOLQJ6DOH)XWXULW\>5@QG0LVV%HWW\
6UG%RRPHU6RRQHU)DOO)XWXULW\HWF'DPRIIRDOVWRUDFHDOO520±
&+(&.(0+,*+6,JE\2Q$+LJKZLQVWR)LQH
/RRP60DVWHU 6DOOV6QG&HQWUDO 'LVWDQFH&KDOOHQJH >*@ 2%
&RFNHUHOO62NODKRPD'LVWDQFH&KDOOHQJHUG5HPLQJWRQ'HUE\ >*@
&KHFN,W7R(P0LVV\6,IE\6KD]RRP:LQQHUWRUG
2NODKRPD%UHG)XWXULW\>5@ >*@
6HH\D/DWHU%DE\6,IE\6WUHDNLQ'DVKZLQVWRUG%OXH
5LEERQ)XWXULW\ >*@
&RURQD0RQ$PLH6,IE\&RURQD&DUWHO6WDNHVSODFHGZLQQHUDERYH
&KHFN(P5R\DO6,FE\5R\DO4XLFN'DVKZLQVWRQG
1RUWKODQGV)XWXULW\ >*@:RRGODQGV&KDPS61'3DUN,QDXJXUDO6
5R\DO0LVV 7HUHVVD6,IE\5R\DO4XLFN'DVKZLQVWRUG
1RUWK'DNRWD+RUVH3DUN6 ILQDOLVWLQWKH 1RUWKODQGV)XWXULW\ >*@
'DVKLQJ&KHFNHUV6,IE\'DVK7D)DPHZLQVLQVWDUWVDW'DPRI±
/,&(16(72=2206,ZLQVWRLQ860H[LFR &ODVLFR
,QDXJXUDO ILQDOLVWLQWKH1RUWKZHVW'HUE\&KDOOHQJH >*@
*UDQG &RHXU6,JE\&DO\[ZLQVWR ILQDOLVWLQWKH$OO
$PHULFDQ)XWXULW\ >*@ +LJKHDVWHUMHW+ >*@
&KHFNKHU$ )LUVWGRZQ6,IE\)LUVW'RZQ'DVK:LQQHUWR IL
QDOLVWLQWKH5DLQERZ'HUE\ >*@
UGGDP
6+2:8072,70,666,E\ 6KRZXP-HWZLQVWR+DOIVLVWHUWR
$0$1'$1'5($066,'DPRIIRDOV520LQFOXGLQJ±
&+(&.,772(00,666,&KHFN7KH&KDUWV6WDNHVZLQQHUDERYH
6+2:0(*21(6,*RQH7R7KH0DQZLQVWR%RRPHU
6RRQHU3UHS'HUE\QG &KHDSV0DWXULW\>5@UG:LOOLDP%DUQH\6
<DZOV%DE\'ROO 6,%\<DZOZLQVWRQG.LQGHUJDUWHQ
)LOOLHV )XWXULW\ ILQDOLVW LQ WKH 0DQRU 'RZQV )XWXULW\ >*@ 'DP RI 3LVWROD
9DJDEXQGR6,JUDQGGDPRI 32871/25,6,>5@
>*@ -$581$:$<63(&,$/6, 'DVK(IIRUWOHVVO\6,
(1*$*(0(176$OO$PHULFDQ5DLQERZ5XLGRVR)XW
5*3
$FFUHGLWHG7H[DV%UHG
+LS1R
&RQVLJQHGE\-RH%$OOHQ
-$6XPPHU5RVH
+LS1R
-DQXDU\6RUUHO)LOO\
*RO6,
-$6XPP HU5RVH
-$6RILVWLFDWHG/DG\6,
{
-RG\27RROH6,
{ -RG\V*ORU\6,
-HWWD27RROH6,
)ORHWWD6,
{ %\<DZO6,
0V0LWR6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
:LWK2SHQ$UPV6,
F LDO(II RUW6,
{ 6SH
1DW LYH$II DLU6,
%\*2/6,6WDNHVZLQQHURIUDFHV+HULW DJH3ODFH
)XW >*@ 5HWDPD 3DUN )XW >*@ 6LUH RI 520 VWDNHV ZLQQHUV
LQFOXGLQJ6,/9(5*2/6,ZLQV74+$6DOH)XW
>5*@*2/69,&725<3236,ZLQV'DVKIRU&DVK-XY
6,6%*2/6,0DQRU'RZQV,QY6>5@-$*2/6$%/$=,1
6,*2/7-.$6,>*@*2/0&$6,>*@
VWGDP
-$62),67,&$7('/$'<6,E\)LUVW'RZQ'DVK:LQQHUWR
'DPRIIRDOVRIUDFLQJDJHWZR\HDUROGVVWDUWHGWRUDFHZLQ
QHUVLQFOXGLQJ±
-$681'$1&(6,JE\*ROZLQVWR%XJV$OLYHLQ6>5@
-$-HVV&ODVV\6,IE\0U-HVV3HUU\:LQQHUWR
-$*ROV'HEXWDQWH6,IE\*RO:LQQHUWR
-$*ROV'XQGHHFE\*RO:LQQHUWR86$LQ0H[LFR
QGGDP
:,7+23(1$5066,E\6SHFLDO(IIRUWZLQVDW ILQDOLVWLQWKH
+HULWDJH3ODFH)XWXULW\>5@ >*@'DPRIIRDOVZLQQHUVLQFOXGLQJ±
-$ :,1'&+$6(5 6, J E\ 6KD]RRP ZLQV WR 0DQRU
'RZQV'HUE\ >*@ ILQDOLVWLQWKH(DVW&KDPS&KDOOHQJH >*@
23(1:,7+/29(6,IE\7DNLQ2Q7KH&DVKZLQVWR
74+$6LUHV¶&XS6>5@ >*@4+5$RI,QGLDQD'HUE\>5@175
1257+6,'( '(%87$17( 6, I E\ &RXS 'H .DV 7% ZLQV WR 'HOWD'RZQV7H[DV)XWXULW\>5@ ILQDOLVWLQWKH)LUHFUDFNHU)XWXULW\
>*@6RXQGRI6XPPHU'HUE\ >*@'DPRI±
/D-ROOD,Q'HEW6,ZLQVWRQG/RXLVLDQD%UHHGHUV¶/DG
GLH)XWXULW\>5@ >*@
7UHDW+HU/LND/DG\6,ZLQVDW'DPRI±
6675,&.2575($76,ZLQVWR(YDQJHOLQH'RZQV
)XWXULW\QG+LDOHDK'HUE\+LDOHDK,QY&KDPS'H6DL[6
6VWKHODG\LVDWUDPS6,ZLQVDW ILQDOLVW>5@ >*@
6SHFLDO$UPV6,JE\2Q$+LJKZLQVWR ILQDOLVW >*@
-$5XQQLQJ7ZLVWHU6,IE\5XQDZD\:LQQHU:LQQHUWR ILQDO
LVWLQWKH0LOH+LJK)XWXULW\ >*@HWF'DPRI±
5XQQLQJ0LUDFOH6,:LQQHUWR ILQDOLVW>5@ >*@
UGGDP
1$7,9($))$,56,E\(DV\-HWZLQVLQVWDUWVDW+DOIVLVWHUWR 1DWLYH
1REOHVVH6,GDPRI 12%/(66(6,;6, >*@ 385(
''$6+6, &KDPSLRQLQ0H[LFR 12%/(66(2%/(*( 6,)D
YRULWH$WWUDFWLRQ6,JUDQGGDPRI $32//,7,&$/7,0( 6, &KDP
SLRQ %URRGPDUHRIWKH\HDULQ >*@RXWRI 1$7,9(
(035(666,175'DPRIZLQQHUVLQFOXGLQJ±
2NLH$IIDLU6,*UDQG$OOLDQFH7%:LQQHULQVWDUWV'DPR 75($&+(5
286/<6,&KDPSLRQ5DLQERZ)XWXULW\ >*@
6LOYHUHG 6LON =HYL 7% 'DP RI 6,/9(5(' (<(6 6, &KDPSLRQ
>*@ 6LON6WUHNLQJV6, >*@
%DUH 1HFHVV LWLHV 6, ZLQV 'DP RI %$5(/< 6+$.(1 6, 175JUDQGGDPRI )$50&,7<5,36, >*@
(1*$*(0(176$4+$&KDOOHQJH
$FFUHGLWHG2NODKRPD%UHG
5*3
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU'RXJRU%RQQLH3HUFLYDO
1HEUDVND7RUQDGR
+LS1R
$SULO%URZQ)LOO\
/LWW OH&RU RQD6,
1HE UDVND7RUQ DGR
/LWW OH6PDUW0RQH\
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
7LQ\&KDUJHU/DG\
{ 3ULQFH&KDUJHU%DU6,
7LQ\3RVV HVV LRQ
{
)LUVW6PDUW0RQH\6,
{ )LUVW'RZQ'DVK6,
3ULVV\*ROG'LJJ HU6,
6ZHHW/LWW OH'HP DQGV6,
S ORGH2Q'HP DQG6,
{ ([
6ZHHWOLWWOHVL[WHHQ6,
%\ /,77/( &2521$ 6, :LQQHU RI UDFHV 6LUH RI
$GGLHV6DLQW3DWW\ZLQQHU&RURQD;WUD6,ZLQQHU5XELHV
&RURQD 6, ZLQQHU 6RQ RI &2521$ &$57(/ 6, VLUH RI RI VWDNHVZLQQHUVLQFO%/8(6*,5/7226,ZRUOGFKDPSLRQFKDPSLRQ
DW>*@7(//(5&$57(/6,FKDPSLRQ\HDUROG
FROW >*@ &$57(56 &$57(/ 6, FKDPSLRQ FROW >*@
VWGDP
/,77/(60$57021(<E\)LUVW6PDUW0RQH\8QUDFHG'DPRIIRDOVRI
UDFLQJDJHWRUDFHERWKZLQQHUV±
6PDUW\2WRROH6,JE\-RG\27RROHZLQVWR
6KDNH(0RQH\6,JE\5R\DO6KDNH(P:LQQHUWR
QGGDP
6:((7 /,77/( '(0$1'6 6, E\ ([SORGH 2Q 'HPDQG ZLQV DW 'DPRIIRDOVWRUDFH520LQFOXGLQJ±
2YHU7KH%ULP6,IE\%ULPPHUWRQ:LQQHUWR
*RWWD*RO6,JE\*RO:LQQHUWR
UGGDP
6ZHHWOLWWOHVL[WHHQ6,E\7KH%XOOGRJJHUZLQVWRQG$PHUL
FDQ(DJOH)XWXULW\'DPRIIRDOVWRUDFH520LQFOXGLQJ±
%/$=,16721(66,6WLFNV$Q6WRQHVZLQVWR7ULQLW\
0HDGRZV'HUE\ >*@QG3ULGHRI7H[DV+>5@UG6SHHGKRUVH'HUE\
>5@ >*@6SHHGKRUVH6SULQW'HUE\>5@ >*@7ULQLW\0HDGRZV6SULQW&KDO
OHQJH+HDUWEHDWRI$PHULFD+>5@
7KH)6L[WHHQ6,6WLFNV$Q6WRQHVZLQVWR'DPRI±
7$67()8//<6,:LQQHUDW0DQRU'RZQV/DGGLH)XWXULW\
>*@
0&0*RLQJ$OO,Q6,:LQQHUWR ILQDOLVW>5@ >*@
6ZHHWKHDUW6WRQHV6,6WLFNV$Q6WRQHVZLQVWR'DPRI±
6ZHHWKHDUWV4XLFNVL[6,ZLQVWR'DPRI±
+(52(6+($576,ZLQVWR$4+$-XYHQLOH&KDO
OHQJH&KDPS >*@3UDLULH0HDGRZV-XYHQLOH&KDOOHQJHQG3UDLULH
0HDGRZV'HUE\&KDOOHQJH >*@ ILQDOLVWLQWKH$4+$'HUE\&KDOOHQJH
&KDPS >*@
612:%8516,ZLQVWR$4+$'LVWDII&KDOOHQJH
&KDPS >*@ QG &HQWUDO 'LVWDII &KDOOHQJH >*@ &HQWUDO -XYHQLOH
&KDOOHQJH&HQWUDO'LVWDII&KDOOHQJHUG9DOOH\-XQFWLRQ)XWXULW\ >*@
0LVV%ODFNKDZN6 >*@ ILQDOLVWLQWKH+HULWDJH3ODFH'HUE\ >*@
6ZHHWKHDUWV/DG\6,ZLQVWR ILQDOLVW >*@'DPRI±
6811<'6,ZLQVWR%LOO+HGJH0HPRULDO2YHU
QLJKW6QG)DLU0HDGRZV0DWXULW\UG*DUO\Q6KHOWRQ*0&7UXFN6
>5@ >*@+HULWDJH3ODFH-XYHQLOH,QY
7RQ2I+HDUWV6,ZLQVWR6HW175
&UXHO6XPPHU6,ZLQVWR'DPRI±
0<%$1$1$5$0$6,ZLQVLQVWDUWV'L[LH'RZQV)XW
&XUOH\%DGRQ6,ZLQVDWUG5RFN\0WQ6SULQJ)XWXULW\
06*0LWH%6WUHDNLQ6,ZLQVWR ILQDOLVW >*@
)HWFKLQJ,PDJH8QUDFHG'DPRI±
06*,0$*(2)6,;(66,ZLQVWR6HOPD6
5*3
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU3DUDJRQ)DUPV//&
1LJKWO\)LUH
+LS1R
0DUFK%D\&ROW
:DON7KUX)LUH6,
1LJKWO\)LUH
1LJKW/LQHV6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
6ZHHW %HGXLQR6,
{ %HGXLQR7%
6ZHHW*DPH6,
{
6WUDZIO\6SHF LDO6,
F LDO(II RUW6,
{ 6SH
)O\,Q7KH3LH6,
.LFNHQ:HVW6,
O DQG(DVH6,
{ +RO
6KDQQDVDOLEL6,
%\:$/.7+58),5(6,ZLQV IQO>*@6LUHRI
520VWDNHVZLQQHUVFKDPSLRQVLQFOXGLQJFKDPSLRQV
+,*+(5),5(6,(G%XUNH0LOOLRQ)XW>*@/$6772
),5(6,ZRUOGFKDPSLRQ>*@ +(=$ '$6+$),5(6,
>*@6(3$5$7(),5(6,>*@-(66:$/.,1*
7+58 6, >*@ )/$0( 1 )/$6+ 6, >*@
VWGDP
1,*+7/,1(66,E\6WUDZIO\6SHFLDOZLQVWR ILQDOLVW*ROGHQ
6WDWH'HUE\ >*@/D 3ULPHUD'HO $QR'HUE\ >*@'DPRIIRDOVRIUDFLQJ
DJHLQFOXGLQJD\HDUROGFXUUHQWO\UDFLQJWRUDFH520LQFOXGLQJ±
0,'1,*+7&$57(/6,IE\&DUWHUV&DUWHOZLQVWR
%ODFN*ROG)XWXULW\ >*@ ILQDOLVWLQWKH5HPLQJWRQ3DUN2NODKRPD
%UHG'HUE\>5@ >*@ 'HFNHWWD6 >*@
1LJKWWLPH/LQHV6,JE\7HOOHU&DUWHOZLQVWRUG*ROGHQ
6WDWH0LOOLRQ)XWXULW\ >*@
)LVKHU/LQHV 6,IE\)LVKHUV'DVKZLQVUG3ULQFHVV6'HUE\
(\HV2SHQ$W1LJKW6,IE\0U(\H2SHQHU3ODFHGDWQG
&DOLIRUQLD-XYHQLOH&KDOOHQJH
7KUX7KH1LJKW6,JE\:DON7KUX)LUH:LQQHUDW ILQDO
LVWLQWKH(G%XUNH0LOOLRQ)XWXULW\ >*@.LQGHUJDUWHQ)XWXULW\ >*@
+HUR2I7KH.QLJKW6,JE\9DOLDQW+HURZLQVWR
(\HV2I1LJKW6,IE\0U(\H2SHQHUZLQVWR
37&RURQD1LJKWV6,FE\&RURQD&DUWHOZLQVWR
0LGQLJKW7HOOHU6,JE\7HOOHU&DUWHOZLQVWR
QGGDP
.,&.(1:(676,E\+ROODQG(DVHZLQVDW3KRHQL[ )XWX
ULW\175QG1HZ0H[LFR-XYHQLOH&KDOOHQJH >*@/D-ROOD6 ILQDOLVWLQ
WKH*ROGHQ6WDWH)XWXULW\ >*@6HW 175DW7XUI3DUDGLVH\LQ
'DPRIIRDOVWRUDFH520LQFOXGLQJ±
=RRPDQGNLFNHQ6,JE\ $]RRPZLQVWRQG'DVKIRU
&DVK'HUE\ >*@ 5XLGRVR 'HUE\ &KDOOHQJH UG 6XQODQG 3DUN :LQWHU
'HUE\ >*@ ILQDOLVWLQWKH6RXWKZHVW-XYHQLOH&KDPS >*@
/RYH <D0LVV-HVV6,IE\0U-HVV3HUU\ZLQVWR'DPRI±
/RWWD/RYH)RU5RE\Q 6,ZLQVWRQG&\SUHVV6UG5DLQ
ERZ -XY ILQDOLVW$OO$PHULFDQ)XW >*@$OO$PHULFDQ'HUE\ >*@ 'DPRI±
75(6)5,(1'6 6,ZLQVLQVWDUWVDW5DLQERZ
)XWXULW\ >*@
(QY6, ZLQVWRUG6HFUHW&DUG6 ILQDOLVW>5@ >*@'DPRI±
)RR:KR6,ZLQVWRQG7XVWLQ6UG$XWXPQ6
ILQDOLVWLQWKH/D 3ULPHUD'HO $QR'HUE\ >*@
UGGDP
6+$11$6$/,%,6,E\6LU$OLELZLQVWR6HW175\6LVWHUWR
)RUWKRID.LQG6,+DOIVLVWHUWR +(=$)$670$16,&KDPSLRQ
>*@ 285$872*5$3+6, >*@ 0,66675,.,1
-(76,2XWRI )$67&23<6,'DPRIIRDOVWR
UDFH ZLQQHUV LQFOXGLQJ /(6625 )/$0,1*2 6, >*@
.,&.(1:(676,DERYH &2836-867%(.$66,
(1*$*(0(176$4+$&KDOOHQJH
5*3
$FFUHGLWHG2NODKRPD%UHG
+LS1R
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU<RX$QG0H3DUWQHUV
7KH5DYH
-DQXDU\6RUUHO)LOO\
&RU RQD&DUW HO6,
7KH5DYH
-HVVLFD 5DYLQ6,
{
+ROODQG(DVH6,
{ )LUVW'RZQ'DVK6,
(DV\ +HQU\HWWD6,
&RU RQD&KLFN6,
%HGXLQR6,
{ &KLFNV
6L]] OLQJ/LO6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
7KH 5DYLQ0DQ LDF6,
{ 5DUH)RUP6,
5LYDQQH6,
%\&2521$&$57(/6,6WDNHVZLQQHU>*@6LUHRI
VWDNHVZLQQHUVFKDPSLRQVLQFOFKDPSLRQV%/8(6*,5/
7226,ZRUOGFKDPSLRQ>*@7(//(5&$57(/6,
$OO$PHULF
DQ)XW>*@),9(%$5&$57(/6,
(G%XUNH0LOOLRQ)XW>*@)O\LQJ)LJ6,>*@&$57(56
&$57(/6,>*@DQGRI(<()25&2521$>*@
VWGDP
-HVVLFD 5DYLQ6,E\0U-HVV3HUU\ZLQVWRQG1HZ0H[LFR
'HUE\&KDOOHQJH >*@ ILQDOLVWLQWKH 6XQODQG3DUN)DOO'HUE\ >*@'DPRI
IRDOVRIUDFLQJDJHWRUDFHDOO520LQFOXGLQJ±
-(66 &8(5926,FE\&RURQD&DUWHOZLQVWR /RYLQJWRQ
6 >*@ QG :HVW 7H[DV 0DWXULW\ >*@ -DPHV ,VDDF +REEV 6 >*@
+LJKHDVWHUMHW+ >*@UG5DLQERZ)XWXULW\ >*@7KH&KDPS$W 6XQODQG
3DUN6 >*@ ILQDOLVWLQWKH$OO$PHULFDQ)XWXULW\ >*@=LD3DUN&KDPS6
>*@/HR6 >*@
3$,17<2852:1:$*216,FE\ 3<&3DLQW<RXU:DJRQZLQVWR
.DQVDV-DFNSRW)XWXULW\ >*@175\LQQG*UHDW
/DNHV6UG&DQWHUEXU\3DUN'HUE\ ILQDOLVW 6XQODQG:LQWHU)XW >*@
5DYH17HOOHU6,JE\7HOOHU&DUWHOZLQVWR
5DYLQ&RURQD6,JE\&RURQD&DUWHOZLQVLQVWDUWVDW
TXDOLILHGWR5DLQERZ)XWXULW\ >*@
-HVV 3DLQWP\ZDJRQ6,IE\ 3<&3DLQW<RXU:DJRQZLQVWR
-HVV 5DYLQ6,IE\&RURQD&DUWHO:LQQHULQVWDUWVDW
QGGDP
7+( 5$9,10$1,$&6,E\5DUH)RUPZLQVWR%XWWRQV
DQG%RZV6175\UG5XLGRVR'HUE\ >*@ ILQDOLVW$OO$PHULFDQ)XW
>*@'DVKIRU&DVK'HUE\ >*@'DPRIIRDOVWRUDFHDOOZLQQHUVLQFO±
-HVVLFD5DYLQ6,IE\0U-HVV3HUU\6WDNHVSODFHGZLQQHUDERYH
UGGDP
5,9$11( 6,E\)LUVW'RZQ'DVKZLQVDW ILQDOLVW >*@6LVWHUWR
,9(%((1%/(66('6,&KDPSLRQ>*@KDOIVLVWHUWR )/25(17,1(6,
&KDPSLRQ\HDUV%URRGPDUHRIWKH<HDU >*@GDPRI
7+,6612:,652<$/6, &KDPSLRQ >*@ (9(1,1*612:
6, *@ &$/<;6,&KDPSLRQ 52<$/0,5$&/(',36,
67$0(16, 67</866, 6+,//,1*66,
$OHWKLD6,GDPRI /$'< 7(1$<$6, >*@JUDQGGDPRI
'(6,5,26,'DPRIIRDOVWRUDFH520LQFOXGLQJ±
52&.(7$,56,-XPSQZLQVWR%ODFN*ROG)XWX
ULW\&KDPS>5@ >*@%R\G0RUULV+>5@QG+HULWDJH3ODFH'HUE\ >*@
6XQODQG&KDPS&KDOOHQJH >*@UG7H[DV&ODVVLF'HUE\ >*@HWF
7+( 5$9,10$1,$&6,5DUH)RUP6WDNHVZLQQHUDERYH
1R5LYDOV6,5XQDZD\:LQQHUZLQVWR ILQDOLVWLQWKH1HZ
0H[LFR'HUE\&KDOOHQJH >*@7RS'HFN+ >*@
5LYDFRXS6,ZLQVWR TXDOLILHGWR5XLGRVR)XWXULW\ >*@
5DUHVW2I5DUH6,5DUH)RUP3ODFHGWR'DPRI +\/RQHVRPH6,
7ZR7LPHV $GDVKHU6,
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
5*3
+LS1R
+LS1R
&RQVLJQHGE\%XUQV5DQFK$JHQW
,%$)DYRULWH
-DQXDU\6RUUHO)LOO\
)DY RULWH&DUW HO6,
,%$)DY RUL WH
,%$4XLFN&KLFN6,
{
)DY RULWH7ULFN7%
{ 3KRQH7ULFN
(YLO(ODLQH
6KHQRVKHUFRURQD6,
U RQD&DUW HO6,
{ &R
6KHQRVKHVSHFLDO6,
{
&KLFNV %HGXLQR6,
{ %HGXLQR7%
$&ODVV\&KLFN6,
%DUU\PHUUL6,
{ %DUU\PRUH6,
0HUUL9DQLW\6,
%\)$925,7(&$57(/6,6WDNHVZLQQHURIUDFHV
$4+$ &KOJ&KDPS>*@/RV$ODPLWRV&KDPS &KOJ>*@+DOIEURWKHUWR
6+(6&+(&.,1802876,+LVILUVWIRDOVDUH\HDUROGVRI6LUHRI
520LQFOXGLQJ/LWWOH7DONV6,ZLQV IQO*RYHUQRU¶V&XS
)XW)LUH$W:LOO6,ZLQV IQO>5*@ /XY2Q7KH5XQ6,
ZLQVUG&DO %UGUV¶)UHVKPDQ>5@3ULVV\&DUWHO6,IQO>*@
VWGDP
,%$48,&.&+,&.6,E\&KLFNV %HGXLQRZLQVWR'DVKLQJ
)ROO\6QG,QGHSHQGHQFH'D\+>5@ ILQDOLVWLQWKH 9DQG\¶V)ODVK+ >*@
6LVWHUWR ,%&+,&.48,&.6,'DPRIIRDOVRIUDFLQJDJHLQFOXGLQJ
DQXQVWDUWHG\HDUROGWRUDFH±
4XLFNLQVRQ6,JE\ +DZNLQVRQ:LQQHUWR
QGGDP
%DUU\PHUUL6,E\%DUU\PRUHZLQVWRQG3RW 2¶*ROG)XWX
ULW\ >*@5LDOWR)XWXULW\6LVWHUWR '2&6($6<&$6+6, %DUU\PH6,
'DPRIIRDOVWRUDFH520LQFOXGLQJ±
,%&+,&.48,&.6,IE\&KLFNV %HGXLQRZLQVWR6LJQRI
/DQW\60DWFKPDNHU6:LQH&RXQWU\'HUE\QG6DQWD5RVD0DUDWKRQ
6 ILQDOLVWLQWKH%XOO 5DVWXV6 >*@
,%$48,&.&+,&.6,IE\&KLFNV%HGXLQR6WDNHVZLQQHUDERYH
&RURQD%DUU\6,JE\&RURQD&]HFKZLQVWR ILQDOLVW >*@
UGGDP
0(55,9$1,7<6,E\ 0HUULGRF:LQQHUDW'DPRIIRDOVWR
UDFH520LQFOXGLQJ±
'2&6($6<&$6+6,%DUU\PRUHZLQVWR 4+%&)UHVK
PDQ&ODVVLF >*@QG %DUGHOOD+>5@ >*@-HW'HFN+ >*@%D\6KRUH
-XYHQLOH6 ILQDOLVWLQWKH6RXWKHUQ&DOLIRUQLD'HUE\ >*@
%DUU\PH6,%DUU\PRUHZLQVWRQG 3&4+5$%UHHGHUV¶
'HUE\>5@ >*@ 3&4+5$6UG'DVKIRU&DVK'HUE\ >*@
%DUU\PHUUL6,%DUU\PRUH6WDNHVSODFHGZLQQHUDERYH
0HUUL7UHDVXUH%DUU\PRUH:LQQHUWR'DPRI 6+227,0($6<6,
WKGDP
0,669$1,7<%$5E\&ODEEHU%DU:LQQHUDW'DPRIVWDUWHUVZLQQHUV±
4XHHQ 0RLVKH6,.LQJ 0RLVKH7%ZLQVWRQG&DOL
IRUQLD6WDWH)DLU&KDPS'DPRI±
48((1%$55<025(6,ZLQVWR'L[LH'RZQV)XWXULW\
QG3RPRQD-XYHQLOH6 ILQDOLVW 3&4+5$%UHHGHUV¶'HUE\>5@ >*@
'DVKLQJ4XHHQ6,ZLQVWRUG%D\6KRUH-XYHQLOH6 IL
QDOLVWLQWKH 3&4+5$%UHHGHUV¶)XWXULW\>5@ >*@'DPRI±
'DVKLQJ1DQD6,ZLQVWRQG&DOLIRUQLD'LVWDII&KDO
OHQJH ILQDOLVW&KDUJHU%DU+ >*@'LVWDII&KDOOHQJH&KDPS >*@
7KH5DLQPDNHU%RE6,ZLQVUG6DQWD5RVD0DUDWKRQ
4XHHQV %HGXLQR6,ZLQVWR'DPRI±
48((16-8126,ZLQVWR%RLVH'HUE\ >*@175
QG7HWRQ&ODVVLF)XWXULW\>5@ ILQDOLVW'HUE\&KDOOHQJH&KDPS >*@
%DUU\5R\DO6,ZLQVWRQG3RFDWHOOR6SULQJ&ODVVLF
)XWXULW\*HP&RXQW\)XWXULW\
(1*$*(0(176$4+$&KDOOHQJH/RV$ODPLWRV7ZR0LOOLRQ)XW
5*3
(OLJ
LEOHIRU&DO%UHGDFFUHGLW DWLRQHPEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU %ROOHQEDFK)DUPV
:DOO6WUHHW%HDXW\
+LS1R
-DQXDU\%D\)LOO\
9DOLDQW+HUR6,
:DOO6WUHHW%HDXW\
:DOOVWUHHW 'DUOLQ6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
&RU RQD&KLFN6,
%HGXLQR6,
{ &KLFNV
6L]] OLQJ/LO6,
{
%XOO\%XOOLRQ6,
F LDO(II RUW6,
{ 6SH
0DU\ 3RSSLQV6,
$6SHF LDO6PLWK
{ 56PLWK7%
0LVV 5HWFR
%\ 9$/,$17 +(52 6, 6WDNHV ZLQQHU RI UDFHV LQ VWDUWV
>*@6LUHRIVWDNHVZLQQHUVLQFOXGLQJ)($785(
+(526,FKDPSLRQ\HDUROG$OO$PHULF
DQ'HUE\>*@
+28',1,6,5DLQERZ'>*@0,*+7<%9$/,$176,
9$/,$17/,//$'<6,>*@),5679$/,$176,*1
6,>*@6DP&URZ6,>*@21(9$/,$17+(52
VWGDP
:DOOVWUHHW 'DUOLQ6,E\%XOO\%XOOLRQZLQVWRQG5HG(DUWK
+ >*@)DLU0HDGRZV%HOOHV6UG%LJ6SODVK6 ILQDOLVWLQWKH2NODKRPD
'HUE\&KDOOHQJH >*@5HG(DUWK+ >*@6RRQHU6WDWH6>5@ >*@6LVWHU
WR %8//<%21'66, 0LVV6WRFNV1 %RQGV6,'DPRIIRDOVRI
UDFLQJDJHWZR\HDUROGVDOOVWDUWHG520LQFOXGLQJ±
6$66<&2521$6,IE\&RURQD&DUWHOZLQVWR0LVV
3ULQF HVV + >*@ )XOOHUWRQ 2YHUQLJKW 6 )LUVW 3ODFH 4XHHQ 6
3RFDKRQWDV2YHUQLJKW6QG*KRVWVDQG*REOLQV6UG&KDUJHU%DU+
>*@&DOLIRUQLD'LVWDII&KDOOHQJH >*@ ILQDOLVW(G%XUNH0HPRULDO)XWXULW\
>*@.LQGHUJDUWHQ)XWXULW\ >*@0LOGUHG9HVVHOV+ >*@'DPRI±
.ODVV\6DVV\6,IE\&RXQWU\&KLFNV0DQZLQVWR
3<&&$6+6,JE\ 3<&3DLQW<RXU:DJRQZLQVWR'RQ
6WHHOH0HPRULDO6UG 6SHHGKRUVH'HUE\ >*@0U0DVWHU%XJ+>5@ IL
QDOLVWLQWKH+HULWDJH3ODFH)XWXULW\ >*@
.ODVV\&KLFN6,IE\9DOLDQW+HURZLQVWR ILQDOLVWLQWKH
%ODFN*ROG)XWXULW\&KDPS>5@ >*@
&RURQD 'DUOLQIE\&RURQD&DUWHO8QSODFHG'DPRI±
:DYH*RRGE\H 'DUOLQ6,IE\:DYH&DUYHU:LQQHUWR
QGGDP
$63(&,$/60,7+E\56PLWK7%'DPRIIRDOVWRUDFH520LQFO±
6$66<60,7+6,IE\&RURQD&DUWHOZLQVWR.LQGHUJDU
WHQ)XW >*@ 3&4+5$%UHHGHUV)XW >*@2FHDQVLGH6'DPRI -(66
6$660(6,JUDQGGDPRI -(66:$/.,1*7+586,
&KDPSLRQ<HDU2OG)LOO\ >*@ -(66%(,1*9$/,$176,
*ROGHQ 6WDWH -XYHQLOH QG *ROGHQ 6WDWH 'HUE\ >*@
6$66< 0221)/$6+6,WR 9$/,$17-(666,
-HVV6DVV'DVK6,
%8//<%21'66,JE\%XOO\%XOOLRQZLQVWR'ZD\QH
6WZLFH6RRQHU6WDWH6>5@WZLFHQG5HPLQJWRQ'HUE\ >*@HWF
:DOOVWUHHW 'DUOLQ6,%XOO\%XOOLRQ6WDNHVSODFHGZLQQHUDERYH
0LVV6WRFNV1%RQGV6,IE\%XOO\%XOOLRQZLQVWRQG
+RSHV 'UHDPV 'HUE\ >5@ >*@ 'DP RI $=220 %$%( 6, (\H 0\ 6WRFNV 6, >*@175 0LVV (\H
6WRFNV6,
0LVV %XOO\ %DFK 6, I E\%XOO\ %XOOLRQ :LQQHU 'DP RI $1<:+(5(
%8//<6, >*@175 )$67(57+$1 /,*+71,16,
>*@ )DVW&RS\0LVV6, >*@ -HULFKR.LG6,
%DUQH\V6SHFLDO6,JE\6SHFLDO(IIRUWZLQVWR
(1*$*(0(176$OO$PHULFDQ5DLQERZ5XLGRVR)XW/RV$ODPLWRV7ZR
0LOOLRQ)XW*ROGHQ6WDWH0LOOLRQ)XW
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\%RE0RRUH)DUPV//&$JHQWIRU &11%UHHGLQJ
$+LJK1RWH
+LS1R
0D\6RUUHO)LOO\
+LJK5DWH2I5HW XUQ6,
$+LJK1RWH
1RWH7KH&KLFN
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
'LYL G HQGV'HF ODUHG6,
{ )LUVW'RZQ'DVK6,
(DV\ +HQU\HWWD6,
{
&KLFNV %HGXLQR6,
{ %HGXLQR7%
$&ODVV\&KLFN6,
+HDYH QO\1RWH6,
F LDO(II RUW6,
{ 6SH
'DVKLQJ 'DOHQH6,
%\+,*+5$7(2)5(78516,6WDNHVZLQQHURIUDFHV
+HULW DJH3ODFH)XWXULW\>*@+LVILUVWIRDOVDUH\HDUOLQJVRI6RQRI
FKDPSLRQ05-(663(55<6,VLUHRIVWDNHVZLQQHUVLQFOFKDP
SLRQV $32//,7,&$/-(666,ZRUOGFKDPSLRQZLQV
/RV$ODPLWRV'HUE\>*@21()$0286($*/(6,/RV
$ODPLWRV)XW>*@ 12&21,6,>*@ 0$7$%$5,6,
VWGDP
127(7+(&+,&.E\&KLFNV %HGXLQR8QSODFHG'DPRIIRDOVRIUDFLQJ
DJHLQFOXGLQJD\HDUROGFXUUHQWO\UDFLQJDOOVWDUWHG520LQFOXGLQJ±
1RWH7KH%OXHV6,IE\-HVV/RXLVLDQD%OXH:LQQHUWR
QGGDP
+HDYHQO\1RWH6,E\6SHFLDO(IIRUWZLQVDWUG5DLQERZ)X
WXULW\ >*@ ILQDOLVWLQWKH5XLGRVR)XWXULW\ >*@6LVWHUWR $*DOODQW(IIRUW6,
'DPRIIRDOVWRUDFH520LQFOXGLQJ±
$6,/9(5*2%/,16,JE\5R\DO4XLFN'DVKZLQVWR
9DOOH\-XQFWLRQ)XWXULW\ >*@.DQVDV'HUE\ >*@QG2NODKRPD&KDPS
&KDOOHQJH >*@ &HQWUDO 'HUE\ &KDOOHQJH >*@ ILQDOLVW LQ WKH 'DVK IRU
&DVK)XWXULW\ >*@$4+$&KDOOHQJH&KDPS >*@5HPLQJWRQ&KDPS
>*@6HW 175DW3UDLULH0HDGRZV\LQ
/,*+71,1*5281'6,JE\ 6WROLZLQVWR 74+$6LUHV¶
&XS)XWXULW\>5@ >*@ ILQDOLVWLQWKH6DP+RXVWRQ)XWXULW\ >*@
83&20,167$56,FE\ 6WROLZLQVLQVWDUWVDW5DLQERZ
-XYHQLOH,QY>5@ >*@
$WRQHPHQW6,JE\5R\DO4XLFN'DVKZLQVWR TXDOLILHGWR
.LQGHUJDUWHQ)XWXULW\ >*@
/DZOHVV*XQVOLQJHU6,JE\0U(\H2SHQHU:LQQHUWR IQO >*@
UGGDP
'$6+,1* '$/(1(6,E\'DVK)RU&DVK3ODFHGDW6LVWHUWR
%$%<+2/'216,'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
+HDYHQO\1RWH6,6SHFLDO(IIRUW6WDNHVSODFHGZLQQHUDERYH
$*DOODQW(IIRUW6,6SHFLDO(IIRUWZLQVWRQG7XUI3DUD GLVH'HUE\ >*@ 0%1$$PHULFD66LUH
'DVKLQ .DVVLH&RXS'H .DV7%ZLQVWR ILQDOLVW >*@'DPRI±
'DVKLQ6OLQN\6,ZLQVWRQG%LOO\0RQWJRPHU\6>5@
6OLQN\V'DVKHU6,ZLQVWR ILQDOLVW>5@ >*@
WKGDP
&28175<0$0$6,E\6W%DUZLQVWR'DPRI520LQFO±
%$%<+2/'216,'DVK)RU&DVKZLQVWR$ODPR
4+%$)XWXULW\0LVV3HQLQVXOD6-HW'HFN+QG'DVKIRU&DVK)XWX
ULW\.DQVDV)XWXULW\/DV 'DPDV6&/ 0DGGRQ¶V%ULJKW(\HV6%XWWRQV
DQG%RZV6UG5DLQERZ6LOYHU&XS*R7RJHWKHU+6HW 175'DPRI
+2:63(&,$/6, >*@JUDQGGDPRI :(//$1'*22'
6,WR &RURQD&RXQWHVV6, 'DVK,V%DFN6,
JUDQGGDPRI +ROG2Q+DQVRQ6,5DLVH$ 6L[\6,GDPRI 7+(
5(*$/675($.6,
'DVKLQ6DLQW6,'DVK)RU&DVKZLQVWR ILQDOLVWLQWKH$OO
$PHULFDQ'HUE\ >*@.LQGHUJDUWHQ)XWXULW\ >*@
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
(PEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\/HD 6WRGDUW$JHQWIRU394XDUWHU+RUVH)DUPV//&
3DLQW$&DQG\6WRUP
+LS1R
)HEUXDU\6RUUHO)LOO\
5HG6WRUP&DW6,
3DLQW$&DQG\6WRUP
6HQG0H&DQG\3DLQW6,
{
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
7LQ\'DVK2I&DVK6,
{ 'DVK)RU&DVK6,
7LQ\V(II RUW6,
3<&3DLQW<RXU:DJRQ6, { &RU RQD&DUW HO6,
'DVKLQ)ROOLHV
7KLV &DQG\V6SHF LDO6, { 6WUDZIO\6SHF LDO6,
6HQG0H7KH&DQG\6,
%\ 5(' 67250 &$7 6, 6WDNHV SODFHG ZLQQHU RI UDFHV
QG7H[DV &OVF)XW>*@6LUHRI520LQFO0$-25720
$36,$S+&KRUVHRIWKH\HDU\HDUV>*@(/ 5$<,72'(
/81$6,ZLQV5XLGRVR -XY &KOJ>*@'(/,*+7)8/&$7
6, 6281' 2) &$1'< 6, &DQG\ &DUWHOV &DW 6, UG2.%UHG'HUE\>5*@)DPRXV&DQG\&DW6,
VWGDP
6HQG0H&DQG\3DLQW6,E\ 3\F3DLQW<RXU:DJRQZLQVWR
QG 6SHHGKRUVH)XWXULW\>5@ >*@ ILQDOLVWLQWKH 6SHHGKRUVH'HUE\ >*@
6LVWHUWR 6SHFLDO&DQG\3DLQW6,'DPRIIRDORIUDFLQJDJH±
*RRGUHDVRQIRUFDQG\6,JE\*RRG5HDVRQ6$3ODFHGLQVWDUWVDW
QGGDP
7+,6 &$1'<663(&,$/ 6,E\6WUDZIO\6SHFLDOZLQVWR
&HQWUDO'LVWDII &KOJ >*@WZLFH .HRNXN6 >*@QG0LVV %ODFNKDZN6WZLFH
UG'LVWDII &KOJ&KDPS >*@ ILQDOLVW5DLQERZ)XW >*@'DPRI520±
&$1'<&$57(/6,IE\&RURQD&DUWHOZLQVWR/XE
ERFN6 >*@ 'HFNHWWD6 >*@)RUW(ULH'HUE\)DLU0HDGRZV%HOOHV6
QG6RRQHU6WDWH6>5@ >*@)//DG\%XJ6>5@HWF'DPRI±
&DQG\ &DUWHOV &DW 6, ZLQV WR UG 5HPLQJWRQ
2NODKRPD%UHG'HUE\>5@ >*@ ILQDOLVW+HULWDJH3ODFH'HUE\ >*@
-(66 63(&,$/ &$1'< 6, J E\ 0U -HVV 3HUU\ ZLQV WR ,QGLDQD 'RZQV &ODVVLF 6 $OO $PHULFDQ &RQJUHVV 0DWX
ULW\175QG (DVWH[+ >*@UG3UDLULH0HDGRZV&KDPS &KOJ >*@
6HQG0H&DQG\3DLQW6,IE\3<&3DLQW<RXU:DJRQ6WDNHVSODFHG
ZLQQHUDERYH
6SHFLDO&DQG\3DLQW6,IE\ 3<&3DLQW<RXU:DJRQZLQVWR
QG 6SHHGKRUVH)XWXULW\ >*@
6WROH7KH&DQG\6,JE\ 6WROLZLQVWRQG/RV$ODPLWRV
&KDPS&KDOOHQJH >*@ ILQDOLVWLQWKH/RV$ODPLWRV&KDPS >*@
-HVV$&DQG\*DO6,IE\0U-HVV3HUU\ZLQVWRUG&HQ
WUDO-XYHQLOH&KDOOHQJH >*@
&DQG\V6SHFLDO:DJRQ6,IE\ 3<&3DLQW<RXU:DJRQZLQVWR
UGGDP
6(1'0(7+(&$1'<6,E\/HDYLQJ0HPRULHVZLQVLQVWDUWVWR
5HPLQJWRQ)XW >*@+DOIVLVWHUWR 6(1'7+(*$/6&$1'<6,
>*@'DPRIIRDOVWRUDFH520LQFOXGLQJ 6(1'0(
$ &$1'< 75(( 6, ZLQV LQ VWDUWV >*@ 7+,6
&$1'<6 63(&,$/ 6, DERYH 7+,6 &$1'<6 52<$/ 6, (\HVD&DQG\0DNHU6, >*@GDPRI (<(6$
:$*21 0$.(5 6, 6HQG 7KH &DQG\ :DJRQ 6, >5@ >*@ (\H2Q7KLV&DQG\6, >*@GDPRI ,6((
&$1'<3$,176,175 (\HPD6SHFLDO&DQG\6,
>*@ 7KLV &DQG\ 6D\V %\H 6, (\HVD &DQG\
+RUVH6, >5@ >*@*RWWD+DYH7KH&DQG\6,ZLQV
JUDQGGDPRI 7+,6 &$1'<6$:(620(6,>5@
>*@ 6(1'0(7+,6:$*216,175 6HQG0H*RRG
&DQG\6,DW>5@ >*@
5*3
$FFUHGLWHG2NODKRPD%UHG
+LS1R
&RQVLJQHGE\5RELFKHDX[5DQFK,QF$JHQWIRU6FRWW0RQLFD-RQHV
7\3HUU\
+LS1R
)HEUXDU\6RUUHO&ROW
0U-HVV3HUU\6,
7\3HUU\
-XPS'RZQ)LUVW6,
{
6WUHDNLQ/D-ROOD6,
{ 6WUHDNLQ6L[6,
%RWW RP¶V8S6,
6FRRSLH)HLQ6,
{ 6LQQ)HLQ6,
/HJV/D6FRRS6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
-XPSLQJ7DF)ODVK6,
{ 7ROOWDF6,
%HDW<RXU3DQWV2II6,
%\05-(663(55<6,&KDPSLRQ\HDUROG>*@6LUH
RI520VWDNHVZLQQHUVLQFOFKDPSLRQV0$7$%$5,
6,ZLQV/RV$ODPLWRV)XW>*@$32//,7,&$/-(666,
ZRUOGFKDPSLRQ/RV$ODPLWRV6XSHU'HUE\>*@21(
)$0286($*/(6,/RV$ODPLWRV)XW>*@12&21,6,
>*@0,665$&<-(666,>*@)5('5,&.6%85*
VWGDP
-803'2:1),5676,E\)LUVW'RZQ'DVKZLQVWR6LVWHUWR
7$&,7/,.($0$16, )/$6+),5676, ,0-80316, $ 7DF
)LUVW6,'DPRIIRDOVRIUDFLQJDJHWZR\HDUROGVERWKVWDUWHG
WRUDFH520LQFOXGLQJ±
-803'2:1$=2206,JE\$]RRPZLQVWR/D
3ODWD6 >*@ ILQDOLVW6XQODQG&KDOOHQJH&KDPS6 >*@:HVW7H[DV0DW >*@
.RE\V :DJRQ 6, J E\ 3<& 3DLQW <RXU :DJRQ :LQQHU DW ILQDOLVWLQWKH5XLGRVR)XWXULW\ >*@
&RURQD.HOO\6,IE\&RURQD&DUWHOZLQVDW ILQDOLVWLQWKH
'DVKIRU&DVK)XWXULW\ >*@
-HVV3HUU\0'6,JE\0U-HVV3HUU\:LQQHUWR
QGGDP
-803,1*7$&)/$6+6,E\7ROOWDF &KDPSLRQ<HDU2OG)LOO\ZLQV
WR.LQGHUJDUWHQ)XW >*@&DOLI6LUHV¶&XS)XWXULW\>5@ >*@
QG'DVKIRU&DVK)XW >*@6LVWHUWR 63/$6+%$&6,&KDPSLRQ
&ROW 'LYD 5HED 6, GDP RI 0(7$//,& /,21 6, >5@>*@ KDOI VLVW HU WR *2,1%<( 6, >*@ GDP RI
+(=$'$6+,1%<( 6, >*@ %($7<28 6, $3+$
&KDPSLRQ %($7<285($/(=< $3+$ $EVROYH 6, *@ &KLFNV%RXGUR6, /DG\1D\HQ 6,&DWFK7KLV'DVK6,
GDPRI )($785(05%2-$1*/(66, &KDPSLRQ&ROW
>*@'DPRIIRDOVWRUDFH$3+$520LQFO±
&$57(56&$57(/6,FE\&RURQD&DUWHO &KDPSLRQ<HDU2OG
&ROW ZLQV LQ VWDUWV WR (G %XUNH 0LOOLRQ )XWXULW\
>*@175\LQ.LQGHUJDUWHQ)XWXULW\ >*@HWF
7$&,7/,.($0$16,FE\)LUVW'RZQ'DVKZLQVLQVWDUWVWR
3&4+5$%UGUV¶)XW >*@*RYHUQRU¶V&XS)XW>5@ >*@6LUH
)/$6+),5676,IE\)LUVW'RZQ'DVKZLQVWR&DOLIRU
QLD%UHHGHUV6>5@QG/RV$ODPLWRV0LOOLRQ)XWXULW\ >*@
,0-80316,IE\)LUVW'RZQ'DVKZLQVWR$OLVR9LHMR6
$QDKHLP +LOOV 6 QG &DOLIRUQLD 'LVWDII &KDOOHQJH >*@ HWF 'DP RI
+($'7851(56, >*@HWF -8031%('8,126,
>*@ -80316,>5@ >*@ -XPSQ&KLF6,
>*@ -XPSQEDFN 6, 8UE DQL WH 6, -XPSQRXW6, >*@
5$,10(,136,IE\7H[DV+HUR>3@ZLQV*XOI&RDVW'E\
$7DF)LUVW6,JE\)LUVW'RZQ'DVKZLQVWRQG*ROGHQ
6WDWH'HUE\ >*@UG3&4+5$%UHHGHUV'HUE\ >*@
7DF2II6,:LQQHUWRUG&DOLI%UGUV¶6RSKRPRUH6>5@
-XVMXPSLQ &KLFNV %HGXLQR 8QSODFHG 'DP RI )$17$67,& )25 0(
6RXWK$PHULF
DQ&KDPSLRQLQ%UD]LO
(PEU\RWUDQVIHU
5*3
+LS1R
+LS1R
&RQVLJQHGE\-(+6WDOOLRQ6WDWLRQ$JHQW
6HSDUDWH7DNHRII
)HEUXDU\*UD\&ROW
6HSD U DWLVW6,
6HSD U DWH7DNHR II
7DNHR II5R\DOO\6,
{
&KLFNV%HGXLQR6,
{ %HGXLQR7%
$&ODVV\&KLFN6,
6HSHUDWH:D\V6,
{ +HPSHQ7%
-HW7RJ HWKHU6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
7LPHWR7DNHR II6,
{ 7LPHWR7KLQNULFK6,
0LVV%ROG)RXUZD\7%
%\ 6(3$5$7,67 6, &KDPSLRQ \HDUV ZLQV LQ VWDUWV
*RYHUQRU¶V&XS)XW>5*@6LUHRI520VWDNHVZLQQHUV
LQFO'06+,&$*26,ZRUOGFKDPSLRQFKDPSLRQDW
$OO$PHULF
DQ)XW>*@,16(3(5$%/(6,FKDPSLRQ
$OO$PHULF
DQ'HUE\>*@5DLQERZ'HUE\>*@0221,676,
FKDPSLRQ*ROGHQ6WDWH'HUE\>*@6(3$5$7(%(76,
VWGDP
7$.(2))52<$//<6,E\)LUVW'RZQ'DVK3ODFHGWR6LVWHUWR
52<$/'2:1'$6+6,'DPRIOLYLQJIRDOVRIUDFLQJDJHLQFOXG
LQJD\HDUROGFXUUHQWO\UDFLQJWRUDFH520LQFOXGLQJ±
7DNH2II-HVV6,FE\0U-HVV3HUU\ZLQVDWQG$OO
$PHULFDQ)XWXULW\ >*@:HVW7H[DV)XWXULW\ >*@ ILQDOLVWLQWKH5XLGRVR
)XWXULW\ >*@6LUH
-HVV7DNHRII6,JE\0U-HVV 3HUU\3ODFHGWRQG
+REEV$PHULFD-XYHQLOH,QY6>5@
0U-HVVH/HH6,FE\0U-HVV3HUU\ZLQVWR6LUH
&DQG\&RURQD6,IE\&RURQD&DUWHO3ODFHGDW ILQDOLVWLQWKH
.LQGHUJDUWHQ)XWXULW\ >*@'DPRI±
'LUW\/LWWOH+DPVWHU6,JE\$]RRPZLQVWR
QGGDP
7LPHWR7DNHRII6,E\7LPHWR7KLQNULFK %URRGPDUHRIWKH<HDULQ
DQGZLQVWRQG9HVVHOV0DWXULW\&DOLIRUQLD%UHHGHUV
&KDPS0LVV3HQLQVXOD6UG*R0DQ*R6&KLFDGR9+'DPRIIRDOV
WRUDFH520LQFOXGLQJ±
52<$/ '2:1 '$6+ 6, I E\ )LUVW 'RZQ 'DVK &KDPSLRQ
<HDU2OG &KDPSLRQ<HDU2OG)LOO\ZLQVLQVWDUWV
$OO$PHULFDQ'HUE\ >*@'HUE\&KOJ&KDPS >*@HWF'DPRI±
*HW'RZQ3HUU\6,ZLQVWRQG9HVVHOV0DW >*@
5R\DO'RZQ-ROOD6,:LQQHUQG)RXU&RUQHUV)XW >*@
'DPRI1&&$QFKRUPDQ6,ZLQVWR
-HVVHV5R\DO'DVK6,'DPRI 0U6LSSLQ&RURQD6, 7)
-HVV$5XQDZD\6,
7,0( )25 52<$/ &$6+ 6, I E\ 'DVK )RU &DVK ZLQV WR *ROGHQ6WDWH)XWXULW\ >*@*ROGHQ6WDWH'HUE\ >*@4+%&
&KDPS >*@QG+HULWDJH3ODFH'HUE\ >*@HWF'DPRI±
',9,'(7+(&$6+6,ZLQVWR'LUHFWRUV¶60DNH,W
$Q\ZKHUH+175QG/RV$ODPLWRV6XSHU'HUE\ >*@
7,0( )25 675($.,1* 6, ZLQV WR &DPSHRQ GH
&DPSHRQHV-HVDVSHFLDOHIIRUW6HWF
7,0()25$52<$/',3 6,ZLQVWR3DXO%)RUG66FRWW
/HZLV63RPRQD-XYHQLOH&KDPSQG$4+5-6HWF
6HSDUDWH5R\DO:D\V6,ZLQVWRUG(DVW'HUE\&KDO
OHQJH >*@ ILQDOLVWLQWKH6DP+RXVWRQ'HUE\6 >*@
7LPH)RU5R\DO&KLFN'DPRI±
7,0()25=2206,ZLQVWR3UHVFRWW9DOOH\/DG
GLH/DVVLH)XWXULW\ >*@
-RKQ2QHLOO6,ZLQVWR ILQDOLVW*ROGHQ6WDWH)XW >*@
(1*$*(0(176$OO$PHULFDQ5DLQERZ5XLGRVR)XW
(PEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\%HOOH0HUH)DUP/WG$JHQWIRU'DUOLQJ)DUPV
$WDF,W
+LS1R
0DUFK6RUUHO&ROW
7DF,W/LNH$0DQ6,
$WDF,W
5R\DOLVWD6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
-XPSLQJ7DF)ODVK6,
{ 7ROOWDF6,
%HDW<RXU3DQWV2II6,
{
(O5H\%XUQHU6,
{ %XJV$OLYH,Q6,
)RXU6ZLQJV7%
0DNLQJ6HF UHWV
F UHW6,
{ 5DLVH$6H
%\J RQHV6,
%\7$&,7/,.($0$16,6WDNHVZLQQHURI>*@+DOI
EURWKHUWR&$57(56&$57(/6,FKDPSLRQ6LUHRIVWDNHVZLQ
QHUVLQFOXGLQJ,*27<2857$&6,*ROGHQ6WDWH
0LOOLRQ)XW>*@7+(/21*.1,)(6,ZLQV7H[DV&ODV
VLF 'HUE\ >*@ QG 5DLQERZ )XW >*@ %/2&. 1 7$&./( 6, >*@,//7$&0$1+$77$16,ZLQVLQVWDUWV
VWGDP
52<$/,67$6,E\(O5H\%XUQHUZLQVWR'DPRIOLYLQJIRDOV
RIUDFLQJDJHKHU\HDUROGLVGHFHDVHGWRUDFH520LQFOXGLQJ±
7+( $ /,67 6, J E\ )LUVW 'RZQ ([SUHVV ZLQV DW 5XLGRVR)XWXULW\ >*@UG$OO$PHULFDQ-XYHQLOH,QY>5@ >*@:HVW7H[DV
-XYHQLOH,QY>5@ ILQDOLVWLQWKH5DLQERZ)XWXULW\ >*@6XQODQG3DUN)DOO
)XWXULW\ >*@&DVLQR&DVK'HUE\ >*@&RWWRQZRRG+ >*@
&DUWHU/LVWD6,JE\6WUDZIO\6SHFLDOZLQVWRQG&DOLIRU
QLD%UHHGHUV¶)UHVKPDQ6>5@ ILQDOLVW*RYHUQRU¶V&XS'HUE\>5@ >*@
7KUHH6HFUHWV$ZD\6,JE\5DLVH$6HFUHWZLQVWR
5KRQGD/LVWDIE\6WUDZIO\6SHFLDO8QUDFHG'DPRI±
<RX6WROH0\+DSS\6,IE\:DON7KUX)LUH:LQQHUWR
QGGDP
0$.,1*6(&5(76E\5DLVH$6HFUHW8QSODFHG'DPRIIRDOVWRUDFH
520LQFOXGLQJ±
&+,&.6 *277$ 6(&5(7 6, F E\ &KLFNV $ %OD]LQ ZLQV WR 0U-HW0RRUH+ >*@UG+LJKHDVWHUMHW+ >*@ ILQDOLVWLQWKH
1HZ0H[LFR&ODVVLF'HUE\>5@ >*@/RYLQJWRQ+ >*@
056(//,2776,IE\)LUVW'RZQ([SUHVVZLQVWR6RODQR
'HUE\QG6WRFNWRQ'HUE\
0LOH0DNHU6,JE\0DJLFDO0LOH7%ZLQVWRUG*ROG5XVK
'HUE\ >*@
UGGDP
%<*21(66,E\'RF0DUFXV7%ZLQVDW'DPRIIRDOVWR
UDFHZLQQHUV
WKGDP
6(3(5$7(:$<66,E\+HPSHQ7% %URRGPDUHRIWKH<HDU LQ ZLQVDW'DPRI520LQFOXGLQJ±
6(3$5$7,67 6,&KLFNV%HGXLQR &KDPSLRQ<HDU2OG &KDPSLRQ
<HDU2OG&ROW &KDPSLRQ<HDU2OG&ROWZLQVLQVWDUWVWR
*RYHUQRU¶V&XS)XW>5@ >*@*ROGHQ6WDWH'HUE\ >*@HWF6LUH
:$<0$.(56,0HUULGRF &KDPSLRQ<HDU2OG*HOGLQJZLQVWR
'DVKIRU&DVK)XW >*@*ROGHQ6WDWH)XW >*@
0$.( ,7 $1<:+(5( 6, )LUVW 'RZQ 'DVK ZLQV WR 3&4+5$%UHHGHUV¶)XW>*@3&4+5$%UHHGHUV'HUE\ >*@6LUH
0$.,1*0(55,6,0HUULGRFZLQVWR4+%&3DFLILF'HUE\
>5@ ILQDOLVW%D\0HDGRZV)XWXULW\ >*@'DPRI &$/32/<&+,&.6,
0DNLQJ:D\V6,6LU5DPEOHUZLQVUG9DQG\¶V)ODVK+
>*@ ILQDOLVW >*@'DPRI .,1*0$1.,'6,/RV$ODPLWRV
0LOOLRQ )XW >*@ JUDQGGDP RI 0$.,1* &+2,&(6 6, >*@ 0,//,210$,'6, :$50,7836,
(1*$*(0(176$4+$&KDOOHQJH
5*3
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\%HOOH0HUH)DUP/WG$JHQW
2XWWD6LJKW
+LS1R
-DQXDU\%D\&ROW
&DSR'H&DSL6,
2XWWD6LJKW
:DLW:DWFK+HU6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
$6KRW$W*ORU\
F LDO6,
{ 6WUDZIO\6SH
%H6R0HUU\6,
{
0U(\H2SHQHU6,
{ 'DVK)RU&DVK6,
%HGDZHH6,
7DNH$IW HU0H6,
O LRQ6,
{ %XOO\%XO
5HGG\,QY HVWP HQW
%\&$32'(&$3,6,6WDNHVZLQQHURIUDFHV+HUL WDJH3ODFH'HUE\>*@+LVILUVWIRDOVDUH\HDUROGVRI6LUHRIZLQ
QHUVLQFO7+(6(5*(3527(&7256,2NOD)XW,QY:LQQ
-HW&DSRGH(O&DSR'H&DPSHRQHV6RQRI&2521$
&$57(/VLUHRI%/8(6*,5/7226,ZRUOGFKDPSLRQ
>*@7(//(5&$57(/6,&$57(56&$57(/6,
VWGDP
:$,7:$7&++(56,E\0U(\H2SHQHU3ODFHGDW6LVWHUWR (<( <,1
<286, (\H2I*ORU\6, (\H17KH'UHDP6,'DPRIIRDOVRI
UDFLQJDJHLQFOXGLQJDQXQVWDUWHG\HDUROGWRUDFH520LQFOXGLQJ±
&$//0(7$7(56,JE\6KD]RRPZLQVWR2NODKRPD
'HUE\&KDOOHQJH >*@QG0LOH+LJK'HUE\ >*@ ILQDOLVWLQWKH$4+$
'HUE\&KDOOHQJH&KDPS >*@
:::DWFK'DOH6,JE\2NH\'RNH\'DOHZLQVWRUG
'HOWD'HUE\&KDOOHQJH ILQDOLVW3UDLULH0HDGRZV'HUE\&KDOOHQJH >*@
6WDUH<D'RZQ6,FE\)LW7R)O\:LQQHUWRQG0U-HW
0RRUH+ >*@
2NH\:DWFKIE\2NH\'RNH\'DOH8QUDFHG'DPRI±
5DFKHO(OL]DEHWKIE\&DSR'H&DSL:LQQHULQVWDUWDW
QGGDP
7$.($)7(50(6,E\%XOO\%XOOLRQ3ODFHGDW6LVWHUWR '5$:6$
&52:'6,'DPRIIRDOVWRUDFH520LQFOXGLQJ±
(<(<,1<286,FE\0U(\H2SHQHUZLQVWR5HPLQJWRQ
3DUN)XWXULW\ >*@5HPLQJWRQ3DUN'HUE\ >*@10-XYHQLOH&KDOOHQJH
>*@QG-XYHQLOH&KOJ&KDPS >*@ ILQDOLVW5XLGRVR'HUE\ >*@6LUH
(\H2I*ORU\6,IE\0U(\H2SHQHUZLQVWRQG5XLGRVR
)XW >*@ 6RXWKZHVW-XY&KDPS ILQDOLVWLQWKH 5DLQERZ'HUE\ >*@
5XLGRVR'HUE\ >*@'DPRI -(66*/25<6, %D\(DJOH
*ORU\6,WRQG7H[DV&ODVVLF)XWXULW\ >*@ ILQDOLVW
LQWKH/HR6 >*@+HULWDJH3ODFH'HUE\ >*@
7DNLQ7KH+LJK5RDG6,JE\2NH\'RNH\'DOHZLQVWR
QG%ODFN*ROG)XWXULW\UG%ODFN*ROG)XWXULW\&KDPS>5@ >*@
(\H17KH'UHDP6,JE\0U(\H2SHQHUZLQVWRQG
'DVKIRU&DVK-XYHQLOH,QY>5@ ILQDOLVWLQWKH:HVW7H[DV'HUE\ >*@
$IWHUDOOLWVPH6,FE\2NH\'RNH\'DOHZLQVWR ILQDOLVWLQ
WKH+HULWDJH3ODFH)XWXULW\ >*@5HPLQJWRQ3DUN)XWXULW\ >*@6LUH
UGGDP
5(''<,19(670(17E\*RRG,QYHVWPHQW 8QUDFHG +DOIVLVWHU WR 0,66
0,5$&/(66, 5HGG\%ROW6, ,V6KH*RQQD6, 7ZLJJ\0RRQ
6,'DPRIIRDOVWRUDFH520LQFOXGLQJ±
6((0(*21(6, &KDPSLRQ<HDU2OG)LOO\ZLQVLQVWDUWVWR
5DLQERZ'HUE\ >*@ $OO$PHULFDQ'HUE\ >*@ HWF'DPRI
*HWWLQ,W*RQH6, >*@ 6HH,W6QRZ6,JUDQGGDPRI
=220727+(021(<6, >*@ 6:((70$&+26, >*@
(<(6$6&5($0(56,0U(\H2SHQHUZLQVWR0LOH
+LJK)XWXULW\ >*@5RFN\0RXQWDLQ&KDPSWZLFHHWF
'5$:6$&52:'6,ZLQV0LOH+LJK)XW >*@6LUH
2QH)DVW/RRN6,ZLQVQG&(:LOOKLWH'HUE\ >*@
5*3
$FFUHGLWHG2NODKRPD%UHG
+LS1R
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQW
3XW$6KLQH2Q,W
)HEUXDU\%D\)LOO\
0LJKW\%9DOLDQW6,
3XW$6KLQH2Q,W
6KH7UDYHOV6,
{
9DOLDQW+HUR6,
{ )LUVW'RZQ'DVK6,
&RU RQD&KLFN6,
0LJKW\%'ROO6,
{ 2Q$+LJK6,
0LJKW\*LUO*R
{
)LVKHUV'DVK6,
{ )LUVW'RZQ'DVK6,
)LVKHUV)DY RULWH6,
-HWVHWWLQJ*LUO6,
WHU+DQG7%
{ 0DV
-HW7RJ HWKHU6,
%\0,*+7<%9$/,$176,6WDNHVZLQQHURIUDFHV
2NOD%UHG)XW>5@QG+HULW DJH3ODFH)XW>*@IQO5DLQERZ)XW>*@
%URWKHUWR*/25<5,'(56,KDOIEURWKHUWR0,*+7<,19,&7866,
0,*+7<2%6&(66,216,+LVILUVWIRDOVDUH\HDUOLQJVRI6RQRI
9$/,$17 +(526, VLUH RI VWDNHVZLQQHUV LQFOXGLQJ )($785(
+(526,FKDPSLRQ>*@+28',1,6,>*@
VWGDP
6+( 75$9(/6 6, E\ )LVKHUV 'DVK :LQQHU WR 6LVWHU WR
*XOIVWUHDP)LYH6,'DPRIIRDOVRIUDFLQJDJHWRUDFH520LQFO±
0DVKHUDWL%6,JE\6HSDUDWLVWZLQVLQVWDUWVDWUG(G
%XUNH0LOOLRQ)XWXULW\ >*@
&RQTXLVWDGRUDEOH%6,IE\9DOLDQW+HURZLQVWRQG7DO
ODKDVVHH6
'HVSHUDWH'DLV\6,IE\&DUWHUV&DUWHOZLQVLQVWDUWVDW
ILQDOLVWLQWKH5DLQERZ)XWXULW\ >*@
QGGDP
-(76(77,1**,5/6,E\0DVWHU+DQG7%ZLQVDW6LVWHUWR 0DNLQJ 8S
6,GDPRI )25*,9(+,06, >*@ JUDQGGDPRI 6+()25
*,9(66,KDOIVLVWHUWR *RLQ7RJHWKHU6,6HSHUDWH:D\V
6,%URRGPDUHRIWKH<HDUGDPRI 6(3$5$7,676, &KDPSLRQDW
>*@ :$<0$.(56, &KDPSLRQ >*@
0$.(,7$1<:+(5(6, >*@JUDQGGDPRI .,1*0$1.,'
6, >*@'DPRIIRDOVWRUDFH520LQFOXGLQJ±
),;,172)/<6,JE\:DON7KUX)LUHZLQVLQVWDUWVDW
*RYHUQRU¶V&XS)XW>5@ >*@QG.LQGHUJDUWHQ)XW >*@
%5,'/(:22' 6, F E\ 5DLVH $ 6HFUHW ZLQV WR &DOLI
%UHHGHUV6RSKRPRUH6>5@ >*@QG3&4+5$%UHHGHUV¶)XW >*@HWF6LUH
*,5/6(&5(766,IE\5DLVH$6HFUHWZLQVWR*ROGHQ
6WDWH'HUE\ >*@/D3ULPHUD'HO$QR'HUE\ >*@HWF'DPRI 6(&5(7
3$7+ 6, )LUH &OLII 6, >*@ JUDQGGDP RI
)22/7+(*8<66, 0\*LUOV7RDVWHG6,WR
*LUOV'RQW6HLV6, %RQRILGH6,
&,7$7,21),9(6,ZLQVWR&DOLIRUQLD)XWXULW\>5@
)/$0,1*2876,JE\:DON7KUX)LUHZLQVWR)DUQDP
6QG=:D\QH*ULIILQ'LUHFWRU¶V6UG.DWHOOD6 ILQDOLVW >*@
*XOIVWUHDP)LYH6,JE\)LVKHUV'DVKZLQVWRQG/RV
$ODPLWRV:LQWHU'HUE\6 >*@3&4+5$%UHHGHUV'HUE\ >*@
7LPRW K\3LORW6,JE\5DLVH$6HFUHWZLQVWRQG*ROG
5XVK'HUE\ >*@0DOLEX6UG0DUDWKRQ+ >*@HWF
(DUO\6HFUHW6,JE\5DLVH$6HFUHWZLQVWRQG&DOLIRU
QLD6LUHV¶&XS'HUE\>5@ >*@3&4+5$6 ILQDOLVW >*@
)O\LQJ5HJDO6,$5HJDO&KRLFHZLQVWRQG&DOLI%UHHGHUV¶
'HEXWDQWH6>5@'DPRI )O\LQJ)RRVH6,WR
/HDU6,JE\5DLVH$6HFUHWZLQVWR ILQDOLVWLQWKH(O3ULPHUR
'HO$QR'HUE\ >*@
*HQGHU*DS'DPRI 7KH*DS6, >*@ &DOLIRUQLD:LOGILUH6,
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
/RV$ODPLWRV7ZR0LOOLRQ)XW*ROGHQ6WDWH0LOOLRQ)XW
5*3
$FFUHGLWHG2NODKRPD%UHG
+LS1R
+LS1R
&RQVLJQHGE\-(+6WDOOLRQ6WDWLRQ$JHQW
(XUDWZLVW
-DQXDU\6RUUHO)LOO\
(XURHDUV7%
(XUDWZLVW
;
,P0HQD FH)DVW6,
{
/DQJIXKU
{ 'DQ]LJ
6ZHHW%ULDU7RR
8QN\$QG$OO\
{ +HII
$FF RUGLQJ7R&KLF
{
([H FX W LYH0HQD FH6,
{ &KLFNV%HGXLQR6,
3URPLVHG0HPR ULHV6,
,P&RORU)DVW6,
{ 5HODJDWH7%
0DU LH5\RQ6,
%\(852($567%6WDNHVZLQQHURIUDFHVLQ86
%LQJ&URVE\6>*@1753DORV9HUGHV6>*@SODFHGLQVWDUWLQ8$(
QG*XOI1HZV'XEDL*ROGHQ6KDKHHQ>*@+LVILUVWIRDOVDUH\HDUROGV
RI6LUHRIZLQQHUV(XURGHYLOZRPDQ7%(XUR%OD]LQ>4+@6,
6RQRIFKDPSLRQ/$1*)8+57%6LUHRIVWDNHVZLQQHUV
LQFOXGLQJ FKDPSLRQV /$:<(5 521 7% >*@ :$1'2 7%
VWGDP
,00(1$&()$676,E\([HFXWLYH0HQDFH:LQQHUWR
6LVWHUWR (;(&87,9(721(6,7KLVLVKHUILUVWIRDO
QGGDP
,0&2/25)$676,E\5HODJDWH7%:LQQHUDW'DPRIIRDOVWR
UDFH520LQFOXGLQJ±
(;(&87,9(721(6,IE\([HFXWLYH0HQDFHZLQVWR
74+$6>5@175\LQ1HYLOO'RFXPHQW6ROXWLRQV6>5@
7H[DV 7ZLVWHU 6 >5@ UG *LOOHVSLH &RXQW\ )DLU )XWXULW\ >*@ 7H[DV
7ZLVWHU6>5@
([HFXWLYH,QWHQW6,JE\([HFXWLYH0HQDFHZLQVWR
UGGDP
0$5,(5<216,E\5RQDV5\RQZLQVWR TXDOLILHGWR6XQ
&RXQWU\)XWXULW\ >*@'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
4XDOLI\LQJ)RUPDW6,5HODJDWH7%:LQQHUWR
WKGDP
721,0$5,(7%E\$]XUH7H:LQQHUDW+DOIVLVWHUWR 3$667+(+$/)7%
'DPRIRWKHUIRDOWRUDFH±
0DULH7RQL7%<XNRQZLQVWR'DPRI±
2QH7RXJK%XFN7%ZLQVWR
9HUPRQWV0DULH7%6,:LQQHUWR
&RXQW)OHHW6WUHHW7%ZLQVWR
$]XGDQFH7%:LQQHUWR'DPRI±
/RXLVLDQD&KDPS7%6,:LQQHUDW
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
5*3
+LS1R &RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU9DOHULDQR5DFLQJ6WDEOHV//& +LS1R
7HPSWLQJ7KH&KLFN9
)HEUXDU\%URZQ)LOO\
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
7HPSWLQJ'DVK6,
7HPSWLQJ7KH&KLFN9
;
&KLFNV$)O\LQJ
{
{
$7HPSWLQJ&KLFN6,
{ &KLFNV%HGXLQR6,
7HPSW0H1RW6,
&KLFNV%HGXLQR6,
{ %HGXLQR7%
$&ODVV\&KLFN6,
6KHHU+RSH6,
Q DW XUH6,
{ 7KH6LJ
7LPH)RU/LO
%\ 7(037,1* '$6+ 6, &KDPSLRQ \HDUROG FROW 7H[DV&OVF)XW>*@175%URWKHUWR$7(037,1*'$6+6LUHRI520
VWDNHV ZLQQHUV LQFO .,66 0< +2&.6 6, FKDPSLRQ
WZLFHZLQV5DLQERZ'HUE\>*@/29(7+(:$<<28/,(6,
+HULW DJH 3ODFH )XW >*@ 7(037,1* '(67,1< 6, :HVW7H[DV'HUE\>*@+(=$'$6+,1%<(6,>*@
VWGDP
&+,&.6$)/<,1*E\&KLFNV%HGXLQR8QUDFHG'DPRIIRDOVRIUDFLQJDJH
WRUDFHLQFOXGLQJ±
-0)&DWV$)O\LQJ6,IE\5HG6WRUP&DW:LQQHUWR
QGGDP
6+((5+23(6,E\7KH6LJQDWXUHZLQVDWDQG6LVWHUWR
7,0(72/($'6,'DPRIIRDOVWRUDFHDOO520LQFOXGLQJ±
6,03/,)<6,IE\'DVKLQJ9DOZLQVWR'DVK)RU&DVK
'HUE\ >*@74+$6LUHV¶&XS'HUE\>5@ >*@ ILQDOLVWLQWKH'DVKIRU&DVK
)XWXULW\ >*@6DP+RXVWRQ)XWXULW\ >*@
9DOHHU6,IE\'DVKLQJ9DO3ODFHGWR'DPRI±
6KDNH(P/HHU6,:LQQHUWRUG5LR5LFR)XWXULW\
0.:6DQWD0DULD6,:LQQHUWR
UGGDP
7,0()25/,/E\7LPHWR7KLQNULFK8QUDFHG+DOIVLVWHUWR 6L]]OLQJ/LO6,
%URRGPDUHRIWKH<HDULQGDPRI &2521$.22/6, &KDP
SLRQ \HDUV >*@ &2521$ &+,&. 6, &KDPSLRQ \HDUV >*@ %URRGPDUHRIWKH<HDULQ &2521$&2&.
7$,/6,JUDQGGDPRI &2521$&$6+6, &KDPSLRQ
\HDUV >*@ 9$/,$17+(526, >*@ &2521$
&$57(/6, >*@'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
7,0(72/($'6,7KH6LJQDWXUHZLQVWR:LQH&RXQWU\
'HUE\175\LQQG/RV$ODPLWRV'HUE\ >*@-RVLH¶V%DU6
ILQDOLVW/RV$ODPLWRV&KDPS >*@&DOLIRUQLD%UHHGHUV¶&KDPS>5@ >*@
<D7H\+D\6,&KLFNV%HGXLQR:LQQHULQVWDUWDW'DPRI±
*2/'18**(75'6,ZLQVWR.LQGHUJDUWHQ)XWXULW\6
>*@QG7KH$PHULFDQ4+5DFLQJ-RXUQDO6
+(<+2//$1'6,ZLQVWR:HVW7H[DV0DWXULW\ >*@
6XPPHU+DZN0DNHOD6,3ODFHGWRLQ0H[LFR'DPRI±
0DPLWD1DWLYH*&6,ZLQVWR86$LQ0H[LFRQG)X
WXULW\&ULDGRUHV0H[LFDQRV>5@ >*@)XWXULW\0H[LFR>5@
7LPH7R%HGXLQR&KLFNV%HGXLQR8QUDFHG'DPRI±
7LPH 7R 6WUHDN '+ 6, ZLQV WR LQ 86 0H[LFR QG
&ODVLFR,QDXJXUDO >*@
3KDQWRP5XQQHU(2 6,ZLQVWRQG2NODKRPD'HUE\ >*@
%HGXLQRV)RUH6RFNV6,:LQQHUWR'DPRI±
$0$/$<$6,ZLQVWR+LDOHDK6RSKRPRUH,QY
0RORWRY6,:LQQHUDWUG'HOWD-XYHQLOH&KDOOHQJH
+ROODQG7LPH 6,ZLQVWR ILQDOLVW >*@'DPRI +ROODQG
2SHQHU6,.LQJ2I5RFNLQ5ROO6,ZLQV
(1*$*(0(176$OO$PHULFDQ5DLQERZ5XLGRVR)XW
5*3
(PEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\5DQG\0F'RQDOG
6KH]D1LFH+XVWOH
+LS1R
$SULO%D\)LOO\
,QVHSHUDEOH6,
6KH]D1LFH+XVW OH
1LFH+XVW OH
{
6HSD U DWLVW6,
%HGXLQR6,
{ &KLFNV
6HSHUDWH:D\V6,
$'HOLJKWI XO/HJD F\6,
{ )LUVW'RZQ'DVK6,
)RUW XQH2I'HOLJKW6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
+XVW OH<RXU%XVW OH6,
{ 'DVK)RU&DVK6,
0LVV-HW6WULGH6,
%\ ,16(3(5$%/(6,&KDPSLRQ\HDUROGFKDPSLRQ\HDUROG
FROW ZLQV $OO $PHULF
DQ 'HUE\ >*@ 5DLQERZ 'HUE\ >*@
%URWKHUWR6(3$5$7(,17(5(676,6LUHRI520VWDNHVZLQQHUV
LQFO*2/'',**,1* $6+/(<6, ZLQV6:
-XY&KDPS6>*@352172$/(;6,ZLQV /DLFR%LUG6
>5@68''(16(3$5$7,216,(<(*27,7*2,1*216,
VWGDP
1,&(+867/(E\&RURQD&DUWHO8QSODFHG'DPRIIRDOVRIUDFLQJDJHLQ
FOXGLQJDQXQVWDUWHG\HDUROGWRUDFHLQFOXGLQJ±
&DUWHO+XVWOHUJE\0U 3LORWR3ODFHGDW
6KDNHQ1RW6WLUUHG%6,IE\7HPSWLQJ'DVK3ODFHGDW
QGGDP
+867/(<285%867/(6,E\'DVK)RU&DVKZLQVWR$X
URUD 'HUE\>5@ >*@QG&KHUU\&UHHN)XWXULW\>5@ >*@ ILQDOLVW0LOH+LJK)X
WXULW\ >*@0LOH+LJK'HUE\ >*@'DPRIIRDOVWRUDFH520LQFOXGLQJ±
+XVWOH+XVWOH+XVWOH6,IE\6WUDZIO\6SHFLDO3ODFHGWR ILQDO
LVWLQWKH0LOH+LJK'HUE\ >*@$XURUD'HUE\>5@ >*@
+XVWOH2Q'RZQ6,IE\ %ULGOHZRRG3ODFHGWR ILQDOLVWLQWKH
5RFN\0RXQWDLQ)XWXULW\ >*@:HVW6RXWKZHVW'HUE\&KDOOHQJH >*@
UGGDP
0,66-(7675,'(6,E\9LFWRU\6WULGH7%:LQQHUDW6LVWHUWR 4XHHQ2I
9LFWRU\6,'DPRIIRDOVWRUDFH520LQFOXGLQJ±
+867/(<285%867/(6,'DVK)RU&DVK6WDNHVZLQQHUDERYH
,5$15($/)$676,%\<DZOZLQVLQVWDUWVWR7RWV
5DQGOH0HPRULDO)XWXULW\ >*@175\LQ ILQDOLVWLQWKH&(
:LOOKLWH0HPRULDO'HUE\ >*@
0V6WUHDNLQ6WULGH6,6WUHDNLQ6L[ZLQVWRQG0LOH+LJK
'HUE\ >*@ ILQDOLVWLQWKH&KHUU\&UHHN)XWXULW\>5@ >*@'DPRI±
60 &KLFNVDVWUHDNLQ6,ZLQVWRUG5HPLQJWRQ
3DUN2NODKRPD%UHG'HUE\>5@ ILQDOLVWLQWKH+HULWDJH3ODFH'HUE\
>*@5HPLQJWRQ&KDPS&KDOOHQJH >*@ (DVWH[+ >*@
606WUHDNLQ&RXQWU\$4+$$3+$6, $3+$&KDPSLRQ<HDU2OG
*HOGLQJZLQQHUWRLQ$3+$UDFHV IQO*UDKDP3DLQW$SS 'E\ >*@
*HWLQWKHSLFWXUH6,%\<DZOZLQVWRQG3RUWODQG0HDGRZV
)XWXULW\ TXDOLILHGWR%RLVH)XWXULW\ >*@
,FDQUXQIDVW6,+H]D)DVW0DQ:LQQHUWR ILQDOLVW >*@'DPRI±
,&DQ7RDVW)DVW6,ZLQVWR ILQDOLVW>5@ >*@
7RPV'DUOLQJ,V+HUH6L[ )ROV3ODFHGLQVWDUWVDW'DPRI±
7(//(07200<6,ZLQVWR%XUVWRI(QHUJ\'HUE\
QG&KDUOLH5XVVHOO)XWXULW\ >*@*UHDW1RUWKHUQ'HUE\
WKGDP
0,66 -(7 48((1 6, E\ -HW 'HFN ZLQV DW DQG & /
0DGGRQ¶V%ULJKW(\HV6/D0HVD3DUN$OO'LVW&K6HULHV6NL+L3DUN)X
WXULW\QG2NODKRPD'HUE\/DP.DQVDV'HUE\%XWWRQVDQG%RZV6$OO
'LVWDQFH&KDPS6HULHVHWF'DPRIIRDOVWRUDFH520LQFOXGLQJ±
4XHHQ2I9LFWRU\6,ZLQVWRUG-HW'HFN+ >*@
0LVV$ZHVRPH4XHHQ6LU$XVWLQ'XQFDQ8QSODFHG'DPRI 6FDUH\$WWL
WXGH6, &ROLQV6KDGRZ
5*3
$FFUHGLWHG2NODKRPD%UHG
+LS1R
&RQVLJQHGE\5R\DO9LVWD(TXLQH,QF$JHQWIRU 9DXJKQ-LOO&RRN
0LD.LQH
+LS1R
0DUFK6RUUHO)LOO\
'RPLQ\XQ6,
0LD.LQH
0LD-RQHV6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
5XQD ZD\'HH'HH6,
D ZD\:LQQ HU6,
{ 5XQ
'DVKLQ'HH'HH6,
{
6SHF LDO/HDGHU6,
F LDO(II RUW6,
{ 6SH
0LVV(\H2SHQHU6,
6LJQ:LQGMDPPHU
Q DW XUH6,
{ 7KH6LJ
$FF HSWD EOH5LVN
%\ '20,1<816,6WDNHVSODFHGZLQQHURIUDFHVQG
5XLGRVR'HUE\>*@UG$OO$PHULF
DQ)XW>*@+DOIEURWKHUWR$'2:1
5,*+7581$:$<6, 5,'',&.6,+LVILUVWIRDOVDUH\HDUROGVRI
LQFO 18&.<6,ZLQVLQVWDUWV:HVW7H[DV)XW>*@
7,&./(85)$1&<6,ZLQVLQVWDUWV3RW 2¶*ROG)XW
$GHODG\6,ZLQQHU IQO>*@%3 -XGVHQZLQQHU
VWGDP
0,$-21(66,E\6SHFLDO/HDGHUZLQVWR .2);)0+
>*@$4+$0HPEHUV3OXV67RS 5RFNHWWH2YHUQLJKW6QG0LVV3ULQ
FHVV+ >*@5HDO:LQG6UG/DV 'DPDV+ >*@/D 3DFLILFD6 ILQDOLVW
LQ WKH 5XLGRVR )XWXULW\ >*@ 0LOGUHG 1 9HVVHOV 0HPRULDO + >*@ /RV
$ODPLWRV:LQWHU'HUE\ >*@5XLGRVR'HUE\ >*@'DPRIIRDOVRIUDFLQJ
DJHWZR\HDUROGVERWKVWDUWHGWRUDFH520LQFOXGLQJ±
$ZLVH+HUR6,FE\9DOLDQW+HUR:LQQHUDWQG7KH*HW
DZD\6
:DYH%\H7R 0LD6,IE\:DYH&DUYHU:LQQHUDW
0H]HUV6,JE\ 6WHO&RURQDZLQVDW
QGGDP
6,*1:,1'-$00(5E\7KH6LJQDWXUH8QSODFHG'DPRIIRDOVWRUDFH
520LQFOXGLQJ±
0,$-21(66,IE\6SHFLDO/HDGHU6WDNHVZLQQHUDERYH
6LJQ2I&DUWHO6,JE\&RURQD&DUWHOZLQVWR
UGGDP
$&&(37$%/(5,6.E\6WUHDNLQ6L[ ILQDOLVWLQWKH 4+%&)UHVKPDQ&ODVVLF
>*@'DPRIRWKHUIRDOVWRUDFHLQFOXGLQJ±
5RVHOD6,7KH6LJQDWXUHZLQVWR
WKGDP
)/<,1* &+,&.(77(6,E\7KUHH&KLFNVZLQVWR'DPRI
IRDOVWRUDFHZLQQHUVLQFOXGLQJ±
0\)OLJKW3ODQ6,5HE¶V3ROLF\7%ZLQVWRQG/RV 1LQRV
6UG-XYHQLOH,QY6.LQGHUJDUWHQ)XWXULW\
/H0RRQ&KLFN6,0RRQ/DUNZLQVWRQG3UHVFRWW'HUE\
ILQDOLVW*ROGHQ6WDWH'HUE\ >*@/D 3ULPHUD'HO $QR'HUE\ >*@'DPRI±
7$%/( 32/,&< $))$,5 6, ZLQV WR *ROG 5XVK 'HUE\ >*@QG5HPLQJWRQ'LVWDQFH0DWXULW\ >*@ ILQDOLVWLQWKH(O
2FKR 6HWHQWD+ >*@:DU&KLF+ >*@
021'$9,6,ZLQVWR:LQH&RXQWU\ 'HUE\175\LQ
QG%D\6KRUH-XYHQLOH6UG 3&4+5$%UHHGHUV¶'HUE\
>5@ >*@ ILQDOLVWLQWKH 3&4+5$%UHHGHUV¶)XWXULW\>5@ >*@
/H0RRQ7DVN6,ZLQVWRQG$OH[ 3LFRY&KDPSHWF
/D'DVK6,ZLQVDWDQG'DPRI±
5R\DO(YHQLQJ'DVK6,ZLQVWRUG$OO&DQDGLDQ
'HUE\)RUW(ULH 4+7%&KDOOHQJH6%DWWOHRIWKH%UHHGV6HWF
3\URGDVK6,ZLQVWRQG$OO&DQDGLDQ)XWXULW\$OH[
3LFRY0HPRULDO&KDPS$OH[ 3LFRY0HPRULDO)XWXULW\>5@
'DVK'RZQ8QGHU6,:LQQHUWRUG$OO&DQDGLDQ)XWXULW\
3ULPR'DVK6,:LQQHUWR
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
5*3
+LS1R &RQVLJQHGE\9LVWD(TXLQH&RORUDGR//&$JHQWIRU'DQ&RQQLH0RRQ +LS1R
5XFXV
)HEUXDU\6RUUHO&ROW
+DGWREHQXWV6,
5XFXV
-R'HH&KLF6,
{
6WULNH7KH&DVK6,
{ )LUVW'RZQ'DVK6,
0LVV 6WULNLQ-HW6,
6KHV%DG6,
E UDQG%DU6,
{ )LUH
0LVV 2DNLH 0LWR6,
{
-RG\2 7RROH6,
{ -RG\V*ORU\6,
-HWWD2 7RROH6,
&KLFNDGRZQ$]X UH6,
{ (DV\)LUVW'RZQ6,
&KDUO\V5DJW LPH%DQG
%\ +$'72%(18766, 6WDNHVZLQQHURIUDFHVLQVWDUWV
+DUUDK¶V (QW 'HUE\175 0U -HW 0RRUH + UG $OO $PHULF
DQ
'HUE\ >*@ 6LUH RI 520 VWDNHV ZLQQHUV LQFO +$' 72 %( )$1
'$1*26,ZLQV0DSOH/HDI'HUE\5&+$'72%(0<
'$<6,6DP+RXVWRQ -XY>*@ +$'$&(57$,1&+$506,
+$'72%($:,11(56,5& +$'72%(029,1
VWGDP
-2'((&+,&6,E\-RG\2 7RROHZLQVDW5RFN\0RXQWDLQ
6SULQJ&ODVVLF)XWXULW\QG,GDKR&XS)XWXULW\>5@'DPRIIRDORIUDFLQJ
DJHDQXQVWDUWHG\HDUROG
QGGDP
&+,&.$'2:1$=85(6,E\(DV\)LUVW'RZQ3ODFHGDW'DPRIIRDOV
WRUDFHZLQQHUVLQFOXGLQJ±
:$<:$5':,1*66,IE\ +DGWREHQXWVZLQVWR+DZ
WKRUQH)XWXULW\UG'L[LH'RZQV)XWXULW\ ,4+$,GDKR&XS'HUE\>5@
-2'((&+,&6,IE\-RG\27RROH6WDNHVZLQQHUDERYH
+DG7R%H&KDUOH\6,JE\ +DGWREHQXWV:LQQHUWR
8QHYHUNQRZIE\ +DGWREHQXWV3ODFHGWR
UGGDP
&+$5/<65$*7,0(%$1'E\%DQG2I$]XUH8QUDFHG'DPRIIRDOVWR
UDFH520LQFOXGLQJ±
-XVW$5XPRU6,5DUH1HZVZLQVWRQG6XQ
'RZQV'LVWDII&KDOOHQJH
%DQG2I 6DPEDVR6,6DPEDVR'DQFHUZLQVWR
WKGDP
,76*277$%(&+$5/(<6,E\7RR7LG\ZLQVLQVWDUWVWR
,GDKR 4+%$'HUE\>5@ ILQDOLVWLQWKH%RLVH'HUE\ >*@'DPRI
IRDOVWRUDFH±
,WV*RWWD%H6SHFLDO6,&DQWK3ODFHGWR
&DQWK%H )RROLQ&DQWK3ODFHGWR
(1*$*(0(176$4+$&KDOOHQJH/RV$ODPLWRV7ZR0LOOLRQ)XW*ROGHQ
6WDWH0LOOLRQ)XW%LWWHUURRW)XW
$FFUHGLWHG,GDKR%UHG
5*3
+LS1R
+LS1R
&RQVLJQHGE\%RE0RRUH)DUPV//&$JHQW
5R\DOH&KLFN
-DQXDU\6RUUHO)LOO\
&RXQW U\&KLFNV0DQ6,
5R\DOH&KLFN
'\Q DVW\5R\DOH
{
&KLFNV%HGXLQR6,
{ %HGXLQR7%
$&ODVV\&KLFN6,
&RXQW U\=HYL6,
{ =HYL7%
7KDW&RXQW U\&KDUP6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
7HOO+HU0RUH6,
{ 5DUH)RUP6,
7HOOHU4XHHQ6,
%\&28175<&+,&.60$16,&KDPSLRQ>5*@6LUH
RI520VWDNHVZLQQHUVLQFO6802.,16,ZLQV
%ODFN *ROG)XW>*@.22/ &28175< 0$16, ZLQV
6DP+RXVWRQ&KDPS>*@.$7,//$&0$16,
>*@&28175<%2<'(/8;(6,6+$1$&+((6,6:
(<(&$1'<36,FKDPSLRQ.QXFNOHV27RROH6,>*@
VWGDP
'<1$67<52<$/(E\)LUVW'RZQ'DVK:LQQHUDW7KLVLVKHUILUVWIRDO
QGGDP
7(//+(5025(6,E\5DUH)RUP:LQQHUDW ILQDOLVWLQWKH$OO
$PHULFDQ)XWXULW\ >*@6LVWHUWR 5DUH.LQJ6,'DPRIIRDOVWRUDFH
ZLQQHUVLQFOXGLQJ±
3$,1725025(6,IE\3<&3DLQW<RXU:DJRQZLQVWR
1RUWK&HQWUDO4+5$)XWXULW\UG&DQWHUEXU\3DUN'HUE\
'RZQ1'DVK6,FE\)LUVW'RZQ'DVKZLQVWR ILQDOLVWLQWKH
5XLGRVR)XWXULW\ >*@:HVW7H[DV)XWXULW\ >*@6LUH
UGGDP
7(//(548((16,E\(DV\-HWZLQVWR*ROGHQ6WDWH)XWX
ULW\ >*@.LQGHUJDUWHQ)XWXULW\ >*@/D3ULPHUD'HO$QR'HUE\ >*@/RV
$ODPLWRV'HUE\ >*@$QQH%XUQHWW+ >*@QG*ROGHQ6WDWH'HUE\ >*@
UG'DVKIRU&DVK)XWXULW\ >*@6LVWHUWR-HW$ORQJ-DPLH6,GDPRI
7(//(5&$57(/ 6, &KDPSLRQ<HDU2OG&ROW >*@
2XWRI -$,0,(-$<6,&KDPSLRQ<HDU2OG'DPRI
IRDOVWRUDFHZLQQHUVLQFOXGLQJ±
7KH)OLQJ.LQJ6,6SHFLDO(IIRUWZLQVWRQG(G%XUNH)X
WXULW\ >*@.LQGHUJDUWHQ)XWXULW\ >*@ ILQDOLVW$OO$PHULFDQ)XWXULW\ >*@
5DUH.LQJ 6,5DUH)RUPZLQVWRQG%XUQHWW6UG5HIULJ
HUDWRU6 ILQDOLVW$OO$PHULFDQ'HUE\ >*@5DLQERZ'HUE\ >*@6LUH
6WHOODU4XHHQ6,6SHFLDO(IIRUW:LQQHUWR'DPRI±
6WRODZD\.LQJ6,ZLQVWRQG5XLGRVR2YHUQLJKW
<DUG6UG$OO$PHULFDQ2YHUQLWH6 ILQDOLVW>5@ >*@
7HOOHU<HS6,:LQQHUWRQG6XQODQG)DOO-XYHQLOH'DPRI±
--V*RQH6,ZLQVWRQG5DLQERZ'HUE\ >*@
(\H%H6ZLIW6,ZLQVDWDQGQG$PHULFDQ4+5DFLQJ
-RXUQDO6 ILQDOLVWLQWKH5HWDPD3DUN'HUE\ >*@
7HOOHUV5RFNHW6,:LQQHULQVWDUWVUG(O0RURGH&XPSDV)XW
4XHHQ7KHQ$QG1RZ6,:LQQHU'DPRI 7UXH$FWLRQ6,
*RLQJ6LQJOH8QSODFHG'DPRI±
612:%281'%($676,ZLQVWR(YHUJUHHQ
3DUN'HUE\&KDOOHQJH175QG&DOLIRUQLD%UHHGHUV&KDPS>5@ >*@
$4+$'HUE\&KDOOHQJH&KDPS >*@
,YOLV6,ZLQVWRUG9DQG\¶V)ODVK+
,I,:HUH.LQJ6,)LUVW'RZQ'DVK:LQQHUDW ILQDOLVWLQWKH
5HPLQJWRQ3DUN)XWXULW\ >*@+HULWDJH3ODFH)XWXULW\ >*@
7HOOHU/LHV)LUVW'RZQ'DVK8QUDFHG'DPRI±
3$,17('/,(66,ZLQVWR3UDLULH0HDGRZV'HUE\&KDO
OHQJH >*@016WDOOLRQ%UHHGHUV1&4+5$'HUE\HWF
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
$FFUHGLWHG2NODKRPD%UHG
5*3
+LS1R
&RQVLJQHGE\0DUW\3RZHUV$JHQWIRU)ODJ5DQFK//&
5RVH\'RHV,W
+LS1R
0DUFK%URZQ)LOO\
0U-HVV3HUU\6,
5RVH\'RHV,W
$6QRZ\&DUW HO6,
{
6WUHDNLQ/D-ROOD6,
{ 6WUHDNLQ6L[6,
%RWW RP¶V8S6,
6FRRSLH)HLQ6,
{ 6LQQ)HLQ6,
/HJV/D6FRRS6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
$6QRZ\)OLQJ6,
{ 7KLV6QRZ,V5R\DO6,
)ULVFR)OLQJ
%\05-(663(55<6,&KDPSLRQ\HDUROG>*@6LUH
RI520VWDNHVZLQQHUVLQFOFKDPSLRQV 0$7$%$5,
6,ZLQV/RV$ODPLWRV)XW>*@ $32//,7,&$/-(666,
ZRUOGFKDPSLRQ/RV$ODPLWRV6XSHU'HUE\>*@21(
)$0286($*/(6,/RV$ODPLWRV)XW>*@ 12&21,6,
>*@0,665$&<-(666,>*@ )5('5,&.6%85*
VWGDP
$612:<&$57(/6,E\&RURQD&DUWHOZLQVLQVWDUWVDW
'DVKIRU&DVK)XWXULW\ >*@0DQRU'RZQV)XWXULW\ >*@'DPRIIRDOVRI
UDFLQJDJHLQFOXGLQJDQXQVWDUWHG\HDUROGWRUDFH520
QGGDP
$6QRZ\)OLQJ6,E\7KLV6QRZ,V5R\DO:LQQHUDWQG
$45$7XUI3DUDGLVH2SHQ'HUE\ >*@6LVWHUWR $5R\DOH)OLQJ6,
'DPRIIRDOVDOOZLQQHUVLQFOXGLQJ±
$612:<&$57(/6,IE\&RURQD&DUWHO6WDNHVZLQQHUDERYH
%36QRZ\6XFFHVV6,IE\&DUWHO6XFFHVVZLQVWRQG
%LOO+HGJH0HPRULDO6UG+LDOHDK/DVVLH)XWXULW\
5HDO6RXWKHUQ6NLS6,JE\6RXWKHUQ&DUWHOZLQVWR
UGGDP
)5,6&2)/,1*E\'DVK)RU&DVK8QSODFHG6LVWHUWR'DVK6'LDPRQG6,
JUDQGGDPRI 52<$/48,&.',$021'6, >*@5LWD $QQV
'DVKGDPRI 68&&(66)8/'$6+6,KDOIVLVWHUWR 7KLQN
$0LWH6,, *RWXP6,JUDQGGDPRI 5($/($6<&$6+>$3+$@6,
$3+$ :RUOG&KDPSLRQ $3+$ &KDPSLRQ <HDU2OG '2&725
675($.,16,'DPRIIRDOVWRUDFH520LQFO±
$5($/0$16,+H]D)DVW0DQ &KDPSLRQ<HDU2OG &KDPSLRQ
<HDU2OG *HOGLQJ ZLQV WR 5HPLQJWRQ 'HUE\
>*@175+HULWDJH3ODFH'HUE\ >*@6RRQHU6WDWH6>5@QG7H[DV
&ODVVLF'HUE\ >*@UG$OO$PHULFDQ'HUE\ >*@5DLQERZ'HUE\ >*@
%36 -803,1)5,6&26,-XPSQZLQVWR6LJQDWXUH6
7DOODKDVVHH6%HDXWLIXO3UDLULH6QG0U-HW0RRUH+UG+HULWDJH
3ODFH'HUE\ >*@(DV\-HW6>5@ >*@5HPLQJWRQ2NOD%UHG'HUE\>5@
0U-HW0RRUH6>5@ ILQDOLVW/RV$ODPLWRV7ZR0LOOLRQ)XWXULW\ >*@
$&$57(/)/,1*6,&RURQD&DUWHOZLQVWR2NOD+RUVH
PHQ¶V$VVRF'HUE\>5@ >*@UG2NOD%UHG)XWXULW\>5@'DPRI $5R\DO
)OLQJ6,WRQG%ODFN*ROG)XWXULW\>5@
7KDWV7KH0DQ6,+H]D)DVW0DQZLQVWRQG([SR
6TXDUH6UG%ULJDQG+ >*@6HW 1:5DW5HPLQJWRQ\LQ
$5R\DOH)OLQJ6,7KLV6QRZ,V5R\DOZLQVWRQG)DLU
0HDGRZV0DWXULW\UG1HZ0H[LFR'LVWDII&KDOOHQJH >*@
-HVV7KH0DQ6,0U-HVV3HUU\ZLQVWRUG2NODKRPD-X
YHQLOH&KDOOHQJH >*@ ILQDOLVW2NODKRPD'HUE\ >*@
%3V)ULVFR&KLFN6,ZLQVDWQG 4+5$,66$)XWXULW\
$6QRZ\)OLQJ6,7KLV6QRZ,V5R\DO6WDNHVSODFHGZLQQHUDERYH
6RXWKHUQ)OLQJ6,6RXWKHUQ&DUWHOZLQVWR ILQDOLVW>5@ >*@
)DLU0HDGRZV%HOOHV6 >*@'DPRI %36287+(51'<1$67<6,WR
%36287+(51:$9(6,WR
$7ULFN\)OLQJ6,7ULFN\)XQ7%ZLQVWR ILQDOLVW >*@
(PEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\0DUW\3RZHUV$JHQWIRU'DYLG/:LVGRP
)HDWXUH$ 3<&
+LS1R
-DQXDU\%D\&ROW
3<&3DLQW<RXU:DJRQ6,
)HDW XUH$ 3<&
)HDW XUH 'UHDPJLUO6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
'DVKLQ)ROOLHV
F LDO6,
{ 6WUDZIO\6SH
'DVKLQJ)ROO\6,
{
)HDW XUH0U-HVV6,
{ 0U-HVV3HUU\6,
%UHQGD)HDW XUH6,
$OODPHULFDQGUHDPJLUO6,
F LDO6,
{ 6WUDZIO\6SH
'DVKLQJ3KRHEH6,
%\ 3<&3$,17<285:$*216,6WDNHVZLQQHURI>*@
6LUHRI520VWDNHVZLQQHUVLQFO,0$)$1&< 3<&6,
ZLQV2NOD%UHG)XW>5*@:$*217$/(66,ZLQV
)5(,*+775$,1 % 6, %ODFN *ROG )XW >*@
-2.(521-$&.6,2.+RUVHPDQ¶V0\VWHU\)XW>5*@
QWU &58=,17+(:$*216,9DOOH\-XQFWLRQ)XW>*@
VWGDP
)($785( '5($0*,5/6,E\)HDWXUH0U-HVVZLQVWR1RUWK
'DNRWD +RUVH 3DUN 'HUE\ QG 0LQQHVRWD 6WDOOLRQ %UHHGHUV1&4+5$
'HUE\'DPRIIRDORIUDFLQJDJH±
)($785($581$:$<6,JE\2FHDQ5XQDZD\ZLQVWR
&DQWHUEXU\3DUN'HUE\
QGGDP
$//$0(5,&$1'5($0*,5/6,E\6WUDZIO\6SHFLDOZLQVWR
ILQDOLVW/DV 'DPDV+ >*@'DPRIIRDOVWRUDFH520LQFOXGLQJ±
$0(5,&$1 581$:$< 6, F E\ 2FHDQ 5XQDZD\ &KDPSLRQ
<HDU2OG &KDPSLRQ<HDU2OG&ROWZLQVWR5XLGRVR
)XWXULW\ >*@ QG 7H[DV &ODVVLF )XWXULW\ >*@ 5DLQERZ )XWXULW\ >*@
5HPLQJWRQ3DUN)XWXULW\ >*@6LUH
)($785('5($0*,5/6,IE\)HDWXUH0U-HVV6WDNHVZLQQHUDERYH
7HOOHU ,PD'UHDP6,JE\7HOOHU&DUWHOZLQVWR
UGGDP
'$6+,1*3+2(%(6,E\'DVK)RU&DVK &KDPSLRQ<HDU2OG)LOO\
&KDPSLRQ<HDU2OG)LOO\ZLQVLQVWDUWV.DQVDV)XW
>*@.DQVDV'HUE\ >*@HWF'DPRI520$3+$LQFOXGLQJ±
+($576:,'(23(1 6, )HDWXUH 0U -HVV &KDPSLRQ <HDU2OG
&KDPSLRQ<HDU2OG &KDPSLRQ<HDU2OG)LOO\ZLQVLQ
VWDUWVWR$OO$PHULFDQ)XWXULW\ >*@5XLGRVR)XWXULW\ >*@
5DLQERZ'HUE\ >*@5XLGRVR'HUE\ >*@HWF
63(&,$/3+2(%(6,6SHFLDO(IIRUW &KDPSLRQ$JHG0DUHZLQV
:RUOG¶V &KDPS &ODVVLF >*@ 5DLQERZ 6LOYHU &XS >*@
5XLGRVR6DOH)XWXULW\>5@ >*@HWF'DPRI $63(&,$/ 612)/26,
>*@ 6SHFLDO 3KRHQL[ 6, JUDQGGDP RI
'8(/,1*-8$1 6,>5@ >*@
)85<2)7+(:,1'6,&RURQD&DUWHOZLQVWR&DOLIRUQLD
&KDOOHQJH >*@ ILQDOLVW *ROGHQ6WDWH'HUE\ >*@HWF
'$6+,1*)25'(67,1< 6,0U-HVV3HUU\ZLQVWR 74+$ 6LUHV¶
&XS 'E\>5@ >*@ IQO >*@'DPRI 7(037,1*'(67,1<6, >*@
62/,''(0$1'6,ZLQV3ULGHRI7H[DV+>5@ >*@
(VSHFLDOO\3KRHEH6,6SHFLDO(IIRUW:LQQHUWRQG5XLGRVR
6DOH)XWXULW\>5@ >*@'DPRI /RGL7RP6,
)UHVK$SSURDFK'DPRI )$02863+2(%(6,>5@ >*@
7KLV 'UHDPV )O\LQJ 6, :LQQHU 'DP RI +(6 5(/(17/(66 6, &KDPSLRQ >*@ 'UHDPQZLGHRSHQ6, >*@
3KRHEH 5\RQ%LOOV 5\RQ'DPRI &2521$($6(6,1:5
0\6SHFLDO3KRHEH'DPRI 675$,*+7)5207+(+($576,
(1*$*(0(176$4+$&KDOOHQJH
5*3
$FFUHGLWHG1RUWK'DNRWD%UHGHPEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\%RE0RRUH)DUPV//&$JHQW
&)+LJK5DWH0DQ
+LS1R
)HEUXDU\6RUUHO&ROW
+LJK5DWH2I5HW XUQ6,
&)+LJK5DWH0DQ
&)%XGV$ 6PRNLQ6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
'LYL G HQGV'HF ODUHG6,
{ )LUVW'RZQ'DVK6,
(DV\ +HQU\HWWD6,
{
6WUDZIO\LQ%XGV6,
F LDO6,
{ 6WUDZIO\6SH
7LQ\V5RVH%XG6,
6WUDZE HUU\1&UHDP
{ .LWDPDQ6,
0\6WUDZE HUU\:LQH
%\+,*+5$7(2)5(78516,6WDNHVZLQQHURIUDFHV
+HULW DJH3ODFH)XWXULW\>*@+LVILUVWIRDOVDUH\HDUOLQJVRI6RQRI
FKDPSLRQ05-(663(55<6,VLUHRIVWDNHVZLQQHUVLQFOFKDP
SLRQV $32//,7,&$/-(666,ZRUOGFKDPSLRQZLQV
/RV$ODPLWRV'HUE\>*@21()$0286($*/(6,/RV
$ODPLWRV)XW>*@ 12&21,6,>*@ 0$7$%$5,6,
VWGDP
&)%XGV$ 6PRNLQ6,E\ 6WUDZIO\LQ%XGV:LQQHUWRUG4XLFN
VLOYHU6>5@'DPRIIRDOVRIUDFLQJDJHWRUDFHLQFOXGLQJ±
&) 6PRNLQ*XQ6,IE\7UHV 6HLV:LQQHUWR
&) 6PRNLQ6ZHHWLHIE\ *LYLQLWDUR\DOHIIRUW3ODFHGLQVWDUWVDW
QGGDP
675$:%(55<1&5($0E\ .LWDPDQ8QSODFHG'DPRIIRDOVWRUDFH
ZLQQHUVLQFOXGLQJ±
&UHDPXP&RXQW6,JE\&RXQW*LDFRPR7%ZLQVWRQG
5HPLQJWRQ3DUN)XWXULW\ >*@2NODKRPD'HUE\&KDOOHQJHUG0LGZHVW
&LW\6 >*@6RRQHU6WDWH6>5@ >*@ ILQDOLVW%OXH5LEERQ'HUE\ >*@
&RXQW7KH3RFNHWV6,JE\&RXQW*LDFRPR7%ZLQVWR
QG5HPLQJWRQ3DUN)XWXULW\ >*@3HJDVXV6 ILQDOLVWLQWKH 9HVSHUR([
SUHVV6 >*@
&)%XGV$ 6PRNLQ 6, IE\6WUDZIO\LQ %XGV 6WDNHV SODFHGZLQQHU
DERYH
5RFNLQ3RFNHW6,JE\&RXQW*LDFRPR7%:LQQHUWR TXDOL
ILHGWR5HPLQJWRQ3DUN)XWXULW\ >*@
5& &UHDPHP6,JE\&RXQW*LDFRPR7%:LQQHUDW
3RFNHWWH6,IE\&RXQW*LDFRPR7%:LQQHUDW
6SRUW\1LNNLIE\&RXQW*LDFRPR7%8QSODFHGLQVWDUWV'DPRI±
&)5DULW\6,ZLQVWR
7KH 6SRUVWHU6,:LQQHUWR
&))O\HU6,:LQQHUWR ILQDOLVWLQWKH2NODKRPD+RUVHPHQ¶V
$VVRF)XWXULW\>5@ >*@
4XLFN'L[LH&KLFN8QSODFHG'DPRI±
&KLFN (OHVH6,:LQQHUWR
UGGDP
0<675$:%(55<:,1(E\&KDUOLH%LUG8QUDFHG'DPRIIRDOVWRUDFH
ZLQQHUVLQFOXGLQJ±
32&.(7352),76,&RXQW*LDFRPR7% ZLQVLQVWDUWVWR
%XGZHLVHU'HUE\ >*@+RSHVDQG'UHDPV)XWXULW\>5@ >*@6W
1LFKRODV([SUHVV+ >*@'DUUHOO5RVH0HPRULDO)XWXULW\0LG$PHU
LFD)XWXULW\)DLU0HDGRZV61752NODKRPD%UHG)XWXULW\>5@+RSHV
DQG'UHDPV'HUE\>5@QG 6KHEHVWHU*ROG&XS0LGZHVW&LW\6'XQFDQ
6UG+HULWDJH3ODFH)XWXULW\>5@ >*@ 6KHEHVWHU*ROG&XS ILQDOLVW LQWKH
+RUVHPHQ¶V 4+5$&KDPS >*@*R0DQ*R+ >*@+HULWDJH3ODFH
'HUE\>5@ >*@
-R\V3URILW6,&RXQW*LDFRPR7%:LQQHUWR
&RXQWLQ 6WUDZEHUU\V&RXQW*LDFRPR7%:LQQHUWR'DPRI±
&2817,175($685(6$3+$6,ZLQVWR2O\PSLD-RH+
6OLFN6O\$3+$6,ZLQVWRQG5HG5LYHU3DLQW0DWXULW\
5*3
$FFUHGLWHG2NODKRPD%UHG
+LS1R
&RQVLJQHGE\ '/75DQFK$JHQW
0DJLFDO-HVV
+LS1R
-DQXDU\%D\&ROW
2QH6ZHHW-HVV6,
0DJL F DO-HVV
0DJLF$QG5K\WKP6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
2QH6ZHHW'DVK6,
{ )LUVW'RZQ'DVK6,
6ZHHW %HGXLQR6,
{
5HG+RW5K\WKP6,
%HGXLQR6,
{ &KLFNV
)O\ 5\WKP)O\6,
0DJLF DO'DVK
{ )LUVW'RZQ'DVK6,
-HWW\6,
%\21(6:((7-(666,6WDNHVZLQQHURIUDFHV>*@
+DOIEURWKHUWR21('$6+,1*($*/(6,ZRUOGFKDPSLRQ+LVILUVW
IRDOVDUH\HDUROGVRI6LUHRI520LQFOXGLQJ2QH6ZHHW0DULH
IQO2NODKRPD%UHG)XW>5*@2QH6ZHHW5XQDZD\6,ZLQ
QHU IQO>5*@-HVV %XUQLQ6,ZLQQHU IQO5XLGRVR
)XW >*@)RU6ZHHW-HVV6,ZLQQHU UG3RW 2¶*ROG )XW
VWGDP
0$*,&$1'5+<7+06,E\5HG+RW5K\WKPZLQVWR
*RYHUQRU¶V&XS'HUE\>5@ >*@/D 3DFLILFD62FHDQVLGH6QG6JW3HS
SHU)HDWXUH+ >*@ ILQDOLVWLQWKH0LOGUHG9HVVHOV+ >*@/DV 'DPDV+
>*@ TXDOLILHGWR/RV$ODPLWRV'HUE\ >*@6LVWHUWR '$6+727+((1'6,
)LUVW0DJLF
DO'DVK6,'DPRIIRDOVRIUDFLQJDJHLQFOXGLQJDQ
XQVWDUWHG\HDUROGWRUDFH520LQFOXGLQJ±
&KDYHOD0DJLF6,IE\ +DZNLQVRQZLQVWR'DPRI±
8QFODLPHG 'LYLGHQG 6, J E\ $ 0HUH &KRFRODWH :LQQHU DW ILQDOLVWLQWKH*RYHUQRU¶V&XS)XWXULW\>5@ >*@
+DZN,Q7UDIILF6,IE\+DZNLVK:LQQHUWR
QGGDP
0$*,&
$/'$6+E\)LUVW'RZQ'DVK8QUDFHG'DPRIVWDUWHUV520±
'$6+727+((1'6,IE\5HG+RW5K\WKPZLQVLQVWDUWVWR
.LQGHUJDUWHQ)XWXULW\ >*@ (75\LQ'DPRI±
+DZNLVK7R7KH(QG6,ZLQVWR
0$*,&$1'5+<7+06,IE\5HG+RW5K\WKP6WDNHVZLQQHUDERYH
)LUVW0DJLF
DO'DVK6,IE\5HG+RW5K\WKPZLQVWRUG
0LVV3ULQFHVV+ >*@ ILQDOLVWLQWKH(G%XUNH0LOOLRQ)XWXULW\ >*@/RV
$ODPLWRV:LQWHU&KDPS >*@*RYHUQRU¶V&XS'HUE\>5@ >*@
0DJLFDO5K\WKP6,JE\5HG+RW5K\WKPZLQVWR
0DJLFDO/DWLQ/RYHU6,JE\ (*6SHFLDO:D\VZLQVLQVWDUWVWR
TXDOLILHGWR*ROGHQ6WDWH0LOOLRQ)XWXULW\ >*@
UGGDP
-(77<6,E\(GLWRULDO&RPPHQW7%:LQQHUDW'DPRI
IRDOVWRUDFHZLQQHUVLQFOXGLQJ±
)$7 52<$/,7<6,5R\DO(YHQLQJ6QRZZLQVWR*DUGHQ
*URYH2YHUQLJKW6UG7UHV 6HLV6 ILQDOLVW6JW3HSSHU)HDWXUH+ >*@
)R[\6SHHGHU6,'DVK7KUX7UDIILFZLQVWRUG&DQDGD-X
YHQLOH&KDOOHQJH'DPRI±
+$11,%$//(&7256,ZLQVWR-DFN 5KRGHQ0HPR
ULDO+175QG-DFN 5KRGHQ0HPRULDO6WLPHV3RUWODQG0HDGRZV
)DOO'HUE\UG*UDQWV3DVV'RZQV'HUE\6HW 175\LQ
=RRPRQ6,ZLQVWRUG*UHDW)DOOV +5$)XWXULW\
$&DUROLQD-HW6,$OO 0LWH\'DVKZLQVWR TXDOLILHG >*@
WKGDP
,0$-(7%8*6,E\5HDO(DV\-HWZLQVDW'DPRIIRDOVWR
UDFHZLQQHUVLQFOXGLQJ±
581-(7%8*6,6L[DUXQZLQVLQVWDUWVDW7ULQLW\
0HDGRZV )XWXULW\ 'DP RI -$1((6 )$67 0$1 6, ZLQV WR $SSUHKHQG6QG'RQ *XHUUR60U 'RW\%DUV6 ILQDOLVW >*@
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
(PEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\ '/75DQFK$JHQW
&RPDQGHU
+LS1R
)HEUXDU\6RUUHO&ROW
2QH6ZHHW-HVV6,
&RPDQGHU
:LOOLH6ZLQJV6,
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
2QH6ZHHW'DVK6,
{ )LUVW'RZQ'DVK6,
6ZHHW %HGXLQR6,
{
:LOOLH :DQWD'DVK6,
{ )LUVW'RZQ'DVK6,
/LTX LG&KDUJH6,
$OO7KH0HPR ULHV6,
J OHU6,
{ 5RFNHW:UDQ
(DV\-HW¶V6DJH6,
%\21(6:((7-(666,6WDNHVZLQQHURIUDFHV>*@
+DOIEURWKHUWR21('$6+,1*($*/(6,ZRUOGFKDPSLRQ+LVILUVW
IRDOVDUH\HDUROGVRI6LUHRI520LQFOXGLQJ2QH6ZHHW0DULH
IQO2NODKRPD%UHG)XW>5*@2QH6ZHHW5XQDZD\6,ZLQ
QHU IQO>5*@-HVV %XUQLQ6,ZLQQHU IQO5XLGRVR
)XW >*@)RU6ZHHW-HVV6,ZLQQHU UG3RW 2¶*ROG )XW
VWGDP
:LOOLH6ZLQJV6,E\:LOOLH :DQWD'DVKZLQVWRQG&KDUJHU
%DU+ >*@ ILQDOLVW/RV$ODPLWRV&KDPS >*@0LOGUHG9HVVHOV+ >*@
'DPRIIRDOVRIUDFLQJDJHLQFOXGLQJDQXQVWDUWHG\HDUROGWRUDFHLQ
FOXGLQJ±
)LUH8S:LOOLH6,IE\:DON7KUX)LUHZLQVWR ILQDOLVWLQ
WKH(G%XUNH0LOOLRQ)XWXULW\ >*@*ROGHQ6WDWH0LOOLRQ)XWXULW\ >*@/RV
$ODPLWRV6XSHU'HUE\ >*@
QGGDP
$OO7KH0HPRULHV6,E\5RFNHW:UDQJOHUZLQVWRUG0LOH
+LJK)XWXULW\ >*@9DOOH\66HW 175\LQ6LVWHUWR :5$1
*/(56$06,'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
:LOOLH6ZLQJV6,IE\:LOOLH:DQWD'DVK6WDNHVSODFHGZLQQHUDERYH
0HPRULHV2I6QRZIE\7KLV6QRZ,V5R\DO8QUDFHG'DPRI±
0(025,(62)2.(<6,ZLQVWR5HWDPD3DUN)XWXULW\
>*@QG/RQJKRUQ)XWXULW\ >*@6LUH
UGGDP
($6<-(7¶66$*(6,E\(DV\-HWZLQV'DPRIVWDUWHUVDOOZLQQHUV±
:5$1*/(5 6$0 6, 5RFNHW :UDQJOHU ZLQV WR 3UHVFRWW'HUE\UG%D\0HDGRZV)XWXULW\ >*@(O 3ULPHUR'HO $QR'HUE\
>*@/RV 1LQRV+ >*@&\SUHVV+ >*@ ILQDOLVW*ROGHQ6WDWH)XW >*@
$OO7KH0HPRULHV6,5RFNHW:UDQJOHU6WDNHVSODFHGZLQQHUDERYH
(OHJDQW/DVVLH6,,FKLERQZLQVWRQG5LQJRI5RVHV'HUE\
ILQDOLVWLQWKH2LO&DSLWDO'HUE\ >*@
WKGDP
/,77/( 0$%(7%E\%HDX0D[ZLQVWR'DPRIVWDUWHUVZLQ
QHUV±
3KDQWRP*D]HOOH7%2OG3XHEOR:LQQHUWR'DPRI±
'211$ '2'$'6,ZLQVWR6XQ&RXQWU\)XWXULW\
6S\*ODVV6,ZLQVWRUG6RQRLWD66HW 175\
5XQ3KDQWRP7%:LQQHULQVWDUWVDW'DPRI±
5LJKW&XWH7%ZLQVWRUG5LOH\$OOLVRQ)XWXULW\
6SHHG6SRRN7%6,ZLQVWRQG:(%XFN%ULWW+6LUH
0LVV(DV\-HW6,(DV\-HW3ODFHGLQVWDUWVDW'DPRI±
%,*%58,6(56,ZLQVWR5RVV0HDGRZV6WZLFH
/DG\ %HDX $ZD\ 7% +LWWLQJ $ZD\ 8QUDFHG 'DP RI %($8 )$6$ 7%
>*@ 2%*<1 7% JUDQGGDP RI 81),1,6+('
6<03+7% >*@ '219217%
/LWWOH6DJH7%'DPRI /$ &2&+,7$>0(;@7% 6$*(63,(0$1
6,JUDQGGDPRI 6$*(6%(//(67$56, %$55<
%$1',726, +RRNHG2Q&DVK6, >*@
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
5*3
&DO%UHG HPEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\6(3UHSSLQJ$JHQW
0\6PRRWK&RURQD
+LS1R
$SULO*UD\*HOGLQJ
-HQV&RU RQD6,
0\6PRRWK&RU RQD
6PRRWK2NLH/DG\
{
&RU RQD8S6,
U RQD&DUW HO6,
{ &R
2XJKWD*R4XLFN6,
'DVK1-HQQ\
{ :KROHORWWDVWLUULQ6,
7KLV.LGV*RW,W6,
{
2NH\'RNH\'DOH6,
{ )LUVW'RZQ'DVK6,
2NH\GRNH\%DE\6,
/DG\V(\HRSHQHU6,
{ 0U(\H2SHQHU6,
&HH/DG\-HW6,
%\-(16&2521$6,6WDNHVZLQQHURIUDFHV%XFNLQJ+RUVH
6DOH)XW6LUHRI%ODFN-DFN&RURQD8S6,ZLQQHU6RQRI
VWDNHVZLQQHU&2521$836,VLUHRI-(16&2521$6,7ZR&R
URQDV6,QG6RXWK'DNRWD%UHG)XW>5@,P$&RURQD'XGH6,
IQO 5RFN\ 0RXQWDLQ )XW >*@ /XFN\V &RURQD 8S 6, &<*&KLS$QG'LS6,IQO.DQVDV-DFNSRW)XW>*@
VWGDP
60227+2.,(/$'<E\2NH\'RNH\'DOH8QUDFHG'DPRIIRDOVRIUDFLQJ
DJHD\HDUROGDQGD\HDUROGERWKXQVWDUWHG
QGGDP
/$'<6(<(23(1(56,E\0U(\H2SHQHU8QSODFHG'DPRIIRDOWR
UDFH
UGGDP
&((/$'<-(76,E\-HW6PRRWKZLQVDW'DPRIIRDOVWR
UDFH520LQFOXGLQJ±
%8//<663(&,$/-(76,%XOO\%XOOLRQZLQVWR7ZR
5LYHUV6UG2NODKRPD&KDPS&KDOOHQJH >*@2NODKRPD'HUE\&KDO
OHQJH >*@ ILQDOLVW LQ WKH 2NODKRPD &KDPS &KDOOHQJH >*@ &HQWUDO
&KDPS&KDOOHQJH >*@6HW175DW3UDLULH0HDGRZV\LQ
/LWWOH/DG\*DPEOHU6,5DLVH7KH*DPEOHZLQVWRUG
2NODKRPD+RUVHPHQ¶V$VVRF'HUE\>5@ ILQDOLVWLQWKH9HVSHUR([SUHVV
6 >*@5XLGRVR6SULQW6 >*@'DPRI±
=RRPLQIHUUDUL6,ZLQVWRUG2NODKRPD-XYHQLOH&KDO
OHQJH >*@
5DUH*DPEOLQ/DG\6,3ODFHGWR ILQDOLVWLQWKH6SHHGKRUVH
'HUE\>5@ >*@'DPRI±
+(=$ 60227+ *$0%/(5 6, ZLQV WR )DLU
0HDGRZV0DWXULW\QG'DVKIRU&DVK'HUE\ >*@/DQG5XQ6>5@ IL
QDOLVWLQWKH6RRQHU6WDWH6>5@ >*@
,P$5DUH*DPEOHU6,:LQQHUWR
*R5HFNOHVV/DG\6,ZLQVDW
5DUH-HW*R6,5DUH-HWZLQVWRQG2NODKRPD-DFNSRW
'HUE\>5@
6PRRWK4XLFN'DVK6,5R\DO4XLFN'DVKZLQVWR
6PRRWK)LUVW'RZQ6,)LUVW'RZQ.HOO\ZLQVWR ILQDOLVWLQWKH
6SHHGKRUVH'HUE\>5@ >*@6LUH
/DG\-HW:LOO:LQ6,:LOO:LQ7%ZLQVWR
WKGDP
/,77/(/$'<*26,E\*R0DQ*RZLQVDW,QGHSHQGHQFH)X
WXULW\6RXWKHDVWHUQ2NODKRPD)XWXULW\QG0LGZD\'RZQV)XWXULW\6HW
175WZLFH'DPRIIRDOVWRUDFHDOOZLQQHUVLQFOXGLQJ±
/$'<60$16,7KH2OH0DQZLQVWR7KDQNVJLYLQJ)XWXULW\
6KHV0L/DG\6,7KH2OH0DQZLQVWR'DPRI±
*$/(17-2+1,(6,ZLQVWR7H[DV)XWXULW\6LUH
%OXH%HOO\6,ZLQVWR6HW175
%LJ'DGG\/DUN6,:LQQHUDW
&KLFNZHJR6,7ULSOH&KLFNZLQVDW6LUH
5*3
+LS1R
&RQVLJQHGE\%HOOH0HUH)DUP/WG$JHQWIRU'DUOLQJ)DUPV
(\H2Q 6WROL
+LS1R
-DQXDU\*UD\)LOO\
6WROL6,
(\H2Q 6WROL
(\H2Q7KH-XU\6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
6WUDZE HUU\6LON6,
{ %HGXLQR7%
3DLQWHG%XJ6,
{
0U(\H2SHQHU6,
{ 'DVK)RU&DVK6,
%HGDZHH6,
-XU\6HOHFW LRQ
7RROH6,
{ -RG\2
-HQQLIHU6PLWK6,
%\ 672/,6,&KDPSLRQ\HDUROGZLQVLQVWDUWV
$OO$PHULF
DQ'HUE\>*@6LUHRI520VWDNHVZLQQHUV
LQFOXGLQJ 672/,6:,11(56,ZRUOGFKDPSLRQFKDPSLRQ\HDUROG
$OO$PHULF
DQ)XW>*@ .(7(/:216,FKDPSLRQZLQV
&KDPSDW 6XQODQG3DUN>*@ '217/(7'2:16,ZLQV
$OO$PHULF
DQ'HUE\>*@685(6+27%6,>*@
VWGDP
(<(217+(-85<6,E\0U(\H2SHQHU:LQQHUWR ILQDOLVWLQ
WKH5XLGRVR-XYHQLOH,QYLWDWLRQDO>5@ >*@'DPRIIRDOVRIUDFLQJDJHWR
UDFH520
QGGDP
-85<6(/(&7,21E\-RG\2 7RROH8QSODFHGLQVWDUW'DPRIIRDOVWR
UDFHDOOZLQQHUVLQFOXGLQJ±
)O\LQ+LJK6HFUHW6,IE\1R6HFUHWV+HUH:LQQHUWR
/HDG7KH-XU\6,IE\/HDG7KH)LHOGZLQVWR
/HDG6HOHFWLRQ6,JE\/HDG7KH)LHOG:LQQHUWR
UGGDP
-HQQLIHU6PLWK6,E\56PLWK7%ZLQVWRUG6L[)ODJV
'HUE\'DPRIIRDOVWRUDFH520LQFOXGLQJ±
+$%,78$/ )/<(5 $4+$$3+$ 6, 6SHFLDO (IIRUW ZLQV WR <HOORZVWRQH'RZQV3DLQW)XWXULW\ >*@:HVWHUQ0RQWDQD)DLU
3DLQW)XWXULW\UG:HVWHUQ0RQWDQD3DLQW'HUE\
,P$ERYH7KH/DZ6,&KLFNV%HGXLQRZLQVWR'DPRI±
/DZOHVV(IIRUW6,:LQQHUWR
7KH/HJDO&RXQFLO6,3LH,Q7KH6N\ZLQVWR
6KDNH(P6PLWK6,5R\DO6KDNH(P:LQQHUWR
,Q&RQWHPSW&DVDG\&DVDQRYD8QUDFHG'DPRI±
7DLQW 0LVEHKDYLQ6,:LQQHUWR
$VNLQ $LQW *HWWLQ6,:LQQHUDW
7DLQW )LWWLQ6,ZLQVDW
WKGDP
*,1$1'-(76,E\6RXWKHUQ-HWZLQVWR'DPRIIRDOVWR
UDFHERWKZLQQHUV±
-HQQLIHU6PLWK6,56PLWK7%6WDNHVSODFHGZLQQHUDERYH
*LQ$QG-HW1DWLYH)RO¶V1DWLYH7%ZLQVWR
(1*$*(0(176$4+$&KDOOHQJH
5*3
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQW
/HDGLQJ0DQQ
+LS1R
)HEUXDU\%URZQ&ROW
&DUWHUV&DUW HO6,
/HDGLQJ0DQQ
4XLFN.DWLH6WUHDN6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
-XPSLQJ7DF)ODVK6,
{ 7ROOWDF6,
%HDW<RXU3DQWV2II6,
{
5R\DO4XLFN'DVK6,
{ )LUVW'RZQ'DVK6,
+DUHPV&KRLFH6,
6WUHDN.DWLH6WUHDN6,
{ 6WUHDNLQ6L[6,
.DWH6KDQQ RQ7%
%\&$57(56&$57(/6,&KDPSLRQ\HDUROGFROW
>*@175 6LUH RI VWDNHV ZLQQHUV LQFOXGLQJ &$57(56
&22.,(6,5DLQERZ)XW>*@620(7+,1/,.(7+,66,
(DVWH[6>*@&$57(56/$67675$:6,66
3$<',576,>*@&$57(/6)25781(6,
&$57(/526,(6,0U3HUU\&DUWHO6,>*@
VWGDP
48,&..$7,(675($.6,E\5R\DO4XLFN'DVKZLQVDW ILQDO
LVWLQWKH5DLQERZ)XWXULW\ >*@'DPRIIRDOVRIUDFLQJDJHLQFOXGLQJDQ
XQVWDUWHG\HDUROGWRUDFH520LQFOXGLQJ±
$]RRPLQ6WUHDN6,IE\$]RRPZLQVWRQG2NODKRPD
+RUVHPHQ¶V$VVRF'HUE\>5@UG2NOD+RUVHPHQ¶V$VVRF)XW>5@ >*@
QGGDP
675($..$7,(675($.6,E\6WUHDNLQ6L[ZLQVDW6LVWHUWR
6WUHDNLQ6KDQQRQ6,'DPRIIRDOVWRUDFH520LQFOXGLQJ±
.DWLHV9LFWRU\6,IE\9LFWRU\'DVKZLQVDWQG'X%DUE
)XWXULW\UG7ZD\QDV'DVK)XWXULW\ >*@ ILQDOLVW >*@'DPRI±
63$1,6+&$57(/6,ZLQVWR&DVK)RU.DV6 ILQDOLVWLQ
WKH/RV$ODPLWRV:LQWHU'HUE\ >*@0LOGUHG9HVVHOV+ >*@HWF'DPRI±
9LYL$QD&RURQD6,ZLQVDW86$LQ0H[LFRUG3UHPLR
$OEHUWR%DLOOHUHV)XWXULW\
9,&725<63/$6+6,ZLQVWR)RXQWDLQ9DOOH\6 ILQDOLVW
%LWWHUURRW)XWXULW\>5@ >*@$PHULFDQ:HVW)XWXULW\>5@ >*@
(/9,6,6%$&6,ZLQVDW1RUWKZHVW-XYHQLOH&KDOOHQJH
>*@ ILQDOLVWLQWKH$4+$-XYHQLOH&KDOOHQJH&KDPS >*@
6SODVK7DON6,ZLQVWRQG(ONR&RXQW\)DLU'HUE\ ILQDO
LVWLQWKH:HVW6RXWKZHVW'LVWDII&KDOOHQJH >*@
-(+&RPSDQ\6,JE\)LUVW'RZQ'DVKZLQVWR ILQDOLVW >*@
UGGDP
.$7(6+$11217%E\0LWR3DLQW8QSODFHG6LVWHUWR -2+1(<0,727%
-RKQQ\'DUN7%'DPRIVWDUWHUVZLQQHUVLQFO±
6,/9(50$648(5$'(6,ZLQV:RRGODQGV&K >*@
6WUHDNLQ6KDQQRQ6, 6WUHDNLQ 6L[ZLQVWR UG:HVW
7H[DV'HUE\ >*@ ILQDOLVWLQWKH$OO$PHULFDQ)XWXULW\ >*@
6WUHDNLQ.DWH6,6WUHDNLQ6L[:LQQHU ILQDOLVW >*@'DPRI ;2.$7(6,
>*@ 'RGDGDVK6, &DVKLQRQ6,
JUDQGGDPRI %$%</$-2//$6, 2$.&$1
<216, >*@ -XVW$V<RX$UH6, >*@ 2Q7KH
:DJRQ6, >*@ 6WROLQ:DJRQ6,JUDQGGDP
RI &LJDUV$QG6WDUV6,>5@ >*@
6KDQQRQ6L[6WUHDNLQ6L['DPRI &$3,7
$/'$6+6,
.DWH3HUU\0U-HVV3HUU\'DPRI +H]D)DVW3HUU\6, >*@
0LVV'DVKLQ.DWH6,'DVK)RU&DVKZLQVWR'DPRI 0,66
'$6+,1)25781(6, 6H\FKHOOH6, >*@JUDQGGDPRI
%('8,126),567581$:$<6, ,SROLWR6,WR
,P'HOLFLRXV6,
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
/RV$ODPLWRV7ZR0LOOLRQ)XW*ROGHQ6WDWH0LOOLRQ)XW
5*3
$FFUHGLWHG2NODKRPD%UHGHPEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\*HQWU\)DUPV
+HDUWEUHDN
+LS1R
$SULO6RUUHO)LOO\
7UHV 6HLV6,
+HDUWE UHDN
)HDUOHVV)UHGD6,
{
6L[DUXQ6,
{ 6WUHDNLQ6L[6,
&KLFNDUXQ6,
2XU7KLUG'HOLJKW6,
L F\7%
{ 5HE¶V3RO
7LQ\¶V'HOLJKW6,
{
'DVK)RU&DVK6,
J OHU6,
{ 5RFNHW:UDQ
)LQG$%X\HU7%
6XFK$Q(DV\(II RUW6,
F LDO(II RUW6,
{ 6SH
(DV\.LVV6,
%\75(6 6(,66,&KDPSLRQFROW>*@6LUHRI520
VWDNHVZLQQHUVLQFO2&+2$6,FKDPSLRQDW
$OO $PHULF
DQ )XW >*@ 75(6 3$66(6 6, ZLQV
/RV $ODPLWRV 7ZR 0LOOLRQ )XW >*@ :,/' 6,; 6, 5DLQERZ)XW>*@75(6)5,(1'66,5DLQERZ
)XW>*@ ),1&+(6,>5*@',$021'75(6 6(,66,
VWGDP
)($5/(66)5('$6,E\'DVK)RU&DVKZLQVWR7H[DV
&ODVVLF 'HUE\ >*@ 4+%& &KDPS &ODVVLF >*@ 5HWDPD 3DUN 'HUE\
>*@175\LQQG9HVVHOV0DWXULW\ >*@ %DUGHOOD6UG$OO
$PHULFDQ'HUE\ >*@0LOGUHG19HVVHOV0HPRULDO+ >*@/D 3ULPHUD'HO
$QR'HUE\ >*@&DOLIRUQLD&KDOOHQJH&KDPS >*@/DV 'DPDV+ >*@
6LVWHUWR 6XFK(DV\&DVK6, >*@KDOIVLVWHUWR '((/,6+6,
&KDPSLRQ<HDU2OG)LOO\&KDPSLRQ$JHG0DUH >*@
GDPRI '((+(,5(666,>*@'$('*( 6,
>*@ '(&$6+ >$3+$@ 6, $3+$ &KDPSLRQ <HDU2OG &ROW
JUDQGGDPRI 52//,&.,15('6, 7)0663(&,$/3(55<
6, >*@ :HVWLQ6, 5LRV6,2XWRI 68&+
$1($6<())257 6, >*@175'DPRIIRDOVRIUDFLQJ
DJHLQFOXGLQJD\HDUROGFXUUHQWO\UDFLQJWRUDFHZLQQHUVLQFOXGLQJ±
)5('5,&.6%85*6,FE\0U-HVV3HUU\ &KDPSLRQ$JHG6WDOOLRQ
ZLQVWR7KH&KDPS$W 6XQODQG3DUN >*@5HIULJHUDWRU+
>*@(DVW'HUE\&KDOOHQJH >*@+HDUWEHDWRI$PHULFD+>5@ >*@QG
)LUHFUDFNHU'HUE\ >*@ +DUUDK¶V (QW'HUE\UG 74+$ &ODVVLF6>5@
>*@%)3KLOOLSV-U+>5@ >*@ ILQDOLVW7H[DV&ODVVLF'HUE\ >*@6LUH
)5('$9,//(6,IE\0U-HVV3HUU\ &KDPSLRQ$JHG0DUHZLQVWR
$4+$'LVWDII&KDOOHQJH&KDPS >*@ 'HFNHWWD6 >*@/RV
$ODPLWRV'LVWDII&KDOOHQJH >*@5HPLQJWRQ'LVWDII&KDOOHQJHWZLFH&LW\
RI+LDOHDK66SDUNOLQJ7LS6175\LQQG'LVWDII&KDO
OHQJH&KDPS >*@-XQR¶V5HTXHVW6 >*@/DV 'DPDV+ >*@+LDOHDK
,QY&KDPS4XHHQ&LW\'DVKUG0LOGUHG9HVVHOV+ >*@HWF
'$6+$)5('$6,IE\0U-HVV3HUU\ZLQVWR&DOLIRUQLD
'HUE\&KDOOHQJH >*@QG/D 3ULPHUD'HO $QR'HUE\ >*@ ILQDOLVWLQWKH
(G %XUNH 0HPRULDO )XWXULW\ >*@ 'DPRI +(=$ '$6+$ ),5( 6, &KDPSLRQ<HDU2OG*HOGLQJ ZLQVLQVWDUWVDW*ROGHQ
6WDWH 0LOOLRQ )XW >*@ (G %XUNH 0LOOLRQ )XW >*@ +(=$ )($5/(66
'$6+(56, ,0$)($5/(66+(526,ZLQVLQVWDUWV
DW(G%XUNH-XYHQLOH6
)HDUOHVV)ULW]6,FE\6KD]RRPZLQVWRUG'DVKIRU
&DVK'HUE\ >*@ ILQDOLVW$OO$PHULFDQ'HUE\ >*@6LUH
)UHGRQD6,IE\&RURQD&DUWHOZLQVWRQG:HVW7H[DV
'HUE\ >*@ ILQDOLVWLQWKH5XLGRVR)XWXULW\ >*@
+DUULVEXUJ6,$]RRPZLQVWRQG $UDSDKRH'HUE\ &KOJ
)HDUOHVV&KLFN6,IE\&KLFNV %HGXLQRZLQVWR'DPRI
)81$:$<6, $LUL]RQ6,JUDQGGDPRI )HDU
OHVV&DW6,WRUG7ZR5LYHUV6 >*@
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
/RV$ODPLWRV7ZR0LOOLRQ)XW
(PEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\'RXEOH//)DUPV$JHQW
3KRHEHV)LQHVW
+LS1R
0DUFK%D\)LOO\
'0190RXQWD EOH6,
3KRHEHV)LQHVW
)UHHEH3KRHEH
{
3DQW KHU0RXQW DLQ6,
W HU0H*RQH6,
{ 0H
&DVK7KLV5XQQ HU6,
&KH\HQQHV%XOOLRQ6,
O LRQ6,
{ %XOO\%XO
&KH\HQQHV +XZDQD6,
{
*HW'RZQ3HUU\6,
{ 0U-HVV3HUU\6,
5R\DO'RZQ'DVK6,
)DP RXV3KRHEH6,
{ 'DVK7D)DPH6,
)UHVK$SS URDFK
%\ '01902817$%/(6,6WDNHVZLQQHURIUDFHV
7H[DV &OVF'HUE\>*@+HULW DJH3ODFH'HUE\>*@5HPLQJWRQ3DUN'HUE\
>*@+DOIEURWKHUWR:$*21)8//2)*2/'6,6LUHRI520LQFO
0V)DVW)LUVW3UL]H6,ZLQVQG:HVW7H[DV'HUE\>*@
*RVSHO+RZG\6,ZLQVUG+LDOHDK(O1LQR6>5@'R]HU6,
ZLQV'LVFR)RXU (1%)OR-R6,
VWGDP
)5((%(3+2(%(E\*HW'RZQ3HUU\8QUDFHG'DPRIIRDOVRIUDFLQJDJH
WRUDFH±
(1%)UHH0RXQWDLQ6,IE\ '0190RXQWDEOH3ODFHGLQVWDUWVDW
QGGDP
)$02863+2(%(6,E\'DVK7D)DPHZLQVDW1HZ
0H[LFDQ6SULQJ)XWXULW\>5@ >*@ ILQDOLVWLQWKH=LD)XWXULW\>5@ >*@1HZ
0H[LFR%UHHGHUV¶)XWXULW\>5@ >*@'DPRIIRDOVWRUDFH520LQFO±
)DPRXV3DWULRW6,JE\*DPH3DWULRW:LQQHUWR ILQDO
LVWLQWKH)RXU&RUQHUV)XWXULW\ >*@5XLGRVR-XYHQLOH&KDOOHQJH >*@
6OLGH2I+DQG6,IE\)DYRULWH7ULFN7%3ODFHG ILQDOLVW>5@ >*@'DPRI±
'RZQ6LGH0DJLFLDQ6,:LQQHUDW ILQDOLVWLQWKH$OO$PHUL
FDQ'HUE\ >*@5HPLQJWRQ&KDPS&KDOOHQJH6 >*@
3KRHEH :DOOLQJIRUGIE\6RXWKHUQ&DUWHO3ODFHGDW'DPRI±
6FRRW:LWK'D/RRW6,ZLQVWR ILQDOLVW >*@
UGGDP
)5(6+$3352$&+E\6SHFLDO7DVN'DPRIIRDOVWRUDFHZLQQHUVLQFO±
)$02863+2(%(6,'DVK7D)DPH6WDNHVZLQQHUDERYH
0DMRU%XQNHU%XVWHU6,0DMRU5LPHZLQVWR
=DPURQ6,'DVK7D)DPHZLQVWR ILQDOLVWLQWKH$OO$PHUL
FDQ'HUE\ >*@1HZ0H[LFR&ODVVLF)XWXULW\>5@ >*@
WKGDP
'$6+,1*3+2(%(6,E\'DVK)RU&DVK &KDPSLRQ<HDU2OG)LOO\
&KDPSLRQ<HDU2OG)LOO\ZLQVLQVWDUWV.DQVDV)XW
>*@.DQVDV'HUE\ >*@HWF'DPRI520$3+$LQFOXGLQJ±
+($576:,'(23(1 6, )HDWXUH 0U -HVV &KDPSLRQ <HDU2OG
&KDPSLRQ <HDU2OG &KDPSLRQ <HDU2OG )LOO\ ZLQV LQ VWDUWVWR$OO$PHULFDQ)XWXULW\ >*@5XLGRVR)XWXULW\ >*@HWF
63(&,$/3+2(%(6,6SHFLDO(IIRUW &KDPSLRQ$JHG0DUHZLQV
:RUOG¶V&KDPS&ODVVLF >*@5DLQERZ6LOYHU&XS >*@HWF
'DPRI $63(&,$/ 612)/26, >*@ 6SHFLDO3KRHQL[6,
JUDQGGDPRI '8(/,1*-8$1 6,>5@ >*@
JUDQGGDPRI 7(037,1*'(67,1<6, >*@
)85<2)7+(:,1'6,ZLQVWR&DOLIRUQLD&KDOOHQJH >*@
'$6+,1*)25'(67,1<6,0U-HVV3HUU\ZLQVWR 74+$
6LUHV¶&XS'HUE\>5@ >*@ ILQDOLVW >*@
62/,''(0$1'6,ZLQV3ULGHRI7H[DV+>5@ >*@
$OODPHULFDQGUHDPJLUO6,6WUDZIO\6SHFLDOZLQVWR IQO >*@
'DPRI $0(5,&$1581$:$<6,&KDPSLRQ >*@
7KLV 'UHDPV )O\LQJ 6, :LQQHU 'DP RI +(6 5(/(17/(66 6, &KDPSLRQ >*@ 'UHDPQZLGHRSHQ6, >*@
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
5*3
+LS1R
&RQVLJQHGE\1RUWK)DUPV//&$JHQWIRU5R\%UDGOH\
%\H-HVVLH
+LS1R
$SULO*UD\)LOO\
-HVV-RQHV6,
%\H-HVVLH
$QQD0DGLV RQ
{
0U-HVV3HUU\6,
{ 6WUHDNLQ/D-ROOD6,
6FRRSLH)HLQ6,
'LVFR'HO5H\6,
{ 'LVFR-HUU\7%
2DNV)R[\/DG\
{
([W UD6SHF LDO(II RUW6,
F LDO(II RUW6,
{ 6SH
)O\LQJ 5RFNHWWH6,
+HPSHQV7UHDW6,
{ &DVK7UHDW6,
7HQG HU+HPS6,
%\-(66-21(66,6WDNHVZLQQHURIUDFHV 6/0%LJ
'DGG\6>*@3DXO¶V 9O\+>*@2NOD&HQWHQQLDO6175 IQO5HPLQJWRQ
3DUN,QY&KDPS>*@5HPLQJWRQ3DUN+>*@HWF+DOIEURWKHUWR)$67
'(/5(<6,'$6+'(/5(<6,6LUHRIIRDOVRIUDFLQJDJH6RQRI
FKDPSLRQ05-(663(55<6,VLUHRIVWDNHVZLQQHUVLQFO $32/
/,7,&$/-(666,ZRUOGFKDPSLRQ 0$7$%$5,6,
VWGDP
$11$0$',6
21E\([WUD6SHFLDO(IIRUW3ODFHGWR'DPRIIRDOVRIUDFLQJ
DJHD\HDUROGDQGD\HDUROGERWKXQVWDUWHG
QGGDP
+(03(1675($76,E\&DVK7UHDWZLQVWR'DPRIIRDOVWR
UDFHLQFOXGLQJ±
%HGWLPH/LHV6,IE\([WUD6SHFLDO(IIRUW3ODFHGWR
UGGDP
7HQGHU+HPS6,E\%DU+HPSZLQVWRQG$OO&DQDGLDQ)X
WXULW\7URXW6SULQJV'HUE\'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
2K6R(DV\7R /XY6,(DV\6DJH:LQQHUWR
7RS27KH0RUQLQJ6,.DZHDK6XQULVHZLQVWR
WKGDP
/89:,7+($6(6,E\:LWK(DVHZLQVDW'DPRIIRDOVDOOZLQQHUV
LQFOXGLQJ±
7HQGHU+HPS6,%DU+HPS6WDNHVSODFHGZLQQHUDERYH
/XYLQJ7LPH6,1RZ,V7KH7LPH7%ZLQVWRQG&DQDGLDQ
%UHG'HUE\>5@
7HQGHU7KRXJKW6,7KLQN 3RVWLYHZLQVDW
5*3
+LS1R
+LS1R
&RQVLJQHGE\ '/75DQFK$JHQW
$:LQQLQJ&]HFK
0D\%D\&ROW
&RU RQD&]HFK6,
$:LQQLQJ&]HFK
$:LQQLQJ&KLFN6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
&RU RQD&KLFN6,
%HGXLQR6,
{ &KLFNV
6L]] OLQJ/LO6,
{
&KLFNV %HGXLQR6,
{ %HGXLQR7%
$&ODVV\&KLFN6,
:LQ)RU7LQ\6,
{ 7LQ\¶V*D\6,
$QQ LH:LQVORZ
%\&2521$&=(&+6,6WDNHVZLQQHURI%URWKHUWR&2
521$&$6+6,FKDPSLRQKDOIEURWKHUWR&2521$&$57(/6,
6LUHRI520VWDNHVZLQQHUVLQFO0$*,&6+2:&=(&+
6,ZLQV*RYHUQRU¶V&XS)XW>5*@(/ $*8,/$5($/6,
>*@ 6+257 &=(&+ 6, >*@&=(&+ 1 287
$6+/(<6,>*@%/$&.%(55<&=(&+6,
VWGDP
$:LQQLQJ&KLFN6,E\&KLFNV %HGXLQRZLQVWRUG6DQWD
0DULD6 ILQDOLVWLQWKH&DOLIRUQLD6LUHV¶&XS)XWXULW\>5@ >*@7RZQ3ROLF\
+ >*@'DPRIIRDOVRIUDFLQJDJHLQFOXGLQJDQXQVWDUWHG\HDUROG
WRUDFH520LQFOXGLQJ±
0DXL%DEH6,IE\$&ODVVLF'DVK:LQQHUWR'DPRI±
0RGHOR&ODUD6,IE\&RXQW&RURQDZLQVWR
)LVKLHIE\)LVKHUV'DVK:LQQHUWR
QGGDP
:,1)257,1<6,E\7LQ\¶V*D\:LQQHUDW'DPRIIRDOVWR
UDFHZLQQHUVLQFOXGLQJ±
$:LQQLQJ&KLFN6,IE\&KLFNV %HGXLQR6WDNHVSODFHGZLQQHUDERYH
:LQ)RU:RRGVWRFN6,JE\:RRGVWRFN%URZQZLQVWR
7KXQGHU&KLOG6,JE\:RRGVWRFN%URZQZLQVWR ILQDOLVW >*@
*UD\'XWFKPDQ6,JE\+ROODQG(DVH:LQQHUWR
6WUDZEHUU\%URZQIE\:RRGVWRFN%URZQ3ODFHGWR'DPRI±
0<675$:%(55<&+,&.6,ZLQVWR$K6LJK6+HDG
3LQ67KH&ODVVLFV'HUE\>5@QG&DOLIRUQLD'HUE\&KDOOHQJH >*@
/RQH6WDU3DUN$W*UDQG3UDLULH6)ORUHQWLQH6UG(G%XUNH0HPR
ULDO)XWXULW\ >*@ ILQDOLVW 3&4+5$%UHHGHUV¶)XWXULW\ >*@'DPRI±
0<),5673$66,216,ZLQVWR)LUHFUDFNHU)XWXULW\
>*@QG)LUHFUDFNHU'HUE\ >*@ ILQDOLVW$OO$PHULFDQ)XWXULW\ >*@
0\%OXHEHUU\&KLFN6,ZLQVWR'DPRI±
%/8(3,5$1+$6,ZLQVWR$XWXPQ6UG*RYHU
QRU¶V&XS)XWXULW\>5@ >*@
7KLUGV%OXH/HJHQG6,ZLQVWRQG $GHTXDQ $UDSDKRH
'HUE\&KDOOHQJH ILQDOLVWLQWKH$4+$'HUE\&KDOOHQJH&KDPS >*@
%OXHV/LO&RURQD6,:LQQHUWRUG'DYLH6
%OXHEHUU\+LJK6,ZLQVWR ILQDOLVWLQWKH$=4XDUWHU
5DFLQJ3UHVLGHQW¶V2SHQ)XWXULW\ >*@
0\7UDIILF'DVKHU6,ZLQVWR ILQDOLVWLQWKH&DOLIRUQLD6LUHV¶
&XS)XWXULW\>5@ >*@
%HUU\5HG+DZN6,ZLQVWR
)LUHFUDFNHU([SUHVV6,ZLQVWR
6WUDZEHUU\3HDN6,ZLQVWR ILQDOLVWLQWKH(O 3ULPHUR'HO
$QR'HUE\ >*@
0\0D\&KLFN8QUDFHG'DPRI±
0\ .XKO&KLFN6,ZLQVWR
$:LQQLQJ0RPHQWIE\&KLFNV %HGXLQR8QUDFHG'DPRI±
3KLODGHOSKLD3DWULRW6,ZLQVWR ILQDOLVWLQWKH(O 3ULPHUR
'HO $QR'HUE\ >*@
(1*$*(0(176$4+$&KDOOHQJH
&DO%UHG
5*3
+LS1R
&RQVLJQHGE\0DUW\3RZHUV$JHQWIRU0LFKDHO76DPSOHV
5RRVWHUVLWR
+LS1R
-DQXDU\%D\&ROW
3DSSDVLWR6,
5RRVWHUVLWR
0DEHOHHQ
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
6WUDZE HUU\6LON6,
{ %HGXLQR7%
3DLQWHG%XJ6,
{
*HQX LQH6WUDZIO\6,
F LDO6,
{ 6WUDZIO\6SH
+LJK)DVKLRQ'DVK6,
%UD]RV%OXVK6,
{ 7DNLQ2Q7KH&DVK6,
7HPSW0H1RW6,
%\ 3$33$6,726,6WDNHVZLQQHURIUDFHVLQVWDUWV
1HZ0H[LFR -XY &KOJ>*@+DOIEURWKHUWR 672/,6,FKDPSLRQ6LUH
RI520LQFOXGLQJ 0$'5(6,7$6,ZLQV
3UDLULH0HDGRZV'LVW &KOJ 3DMDULWD6LWD6,QG .2);)0
+>*@&KDPSLRQ+XGGOH6,QG 2+$0\VWHU\)XW>5*@
3$33$6,17+(+286(6,DW%LWWHUURRW)XW>5@
VWGDP
0$%(/((1 E\*HQXLQH6WUDZIO\8QUDFHG'DPRIIRDOVRIUDFLQJDJHWRUDFH
QGGDP
%5$=26%/86+6,E\ 7DNLQ2Q7KH&DVKZLQVDWDQG IL
QDOLVWLQWKH1HZ0H[LFR'HUE\&KDOOHQJH >*@'DPRIIRDOVWRUDFH
520LQFOXGLQJ±
&KLFNV2Q7KH%UD]RV6,IE\&KLFNV$ %OD]LQ:LQQHUDW IL
QDOLVWLQWKH6HQRULWD)XWXULW\>5@ >*@
'L 1DJDOHH6,JE\0DMRU5LPH3ODFHGWR
UGGDP
7(0370(1276,E\6LU$OLELZLQVWR%ODFN*ROG)X
WXULW\>5@%ODFN*ROG0DWXULW\>5@ ILQDOLVWLQWKH0LVV3ULQFHVV+ >*@'DP
RIIRDOV520LQFOXGLQJ±
$7HPSWLQJ&KLFN6,&KLFNV %HGXLQR %URRGPDUHRIWKH<HDULQ
ZLQVWRUG0LVVLRQ%HDFK60RVV/DQGLQJ6 ILQDOLVWLQWKH
*RYHUQRU¶V&XS'HUE\>5@ >*@/D 3ULPHUD'HO $QR'HUE\ >*@'DPRI±
7(037,1*'$6+6, &KDPSLRQ<HDU2OG&ROWZLQVLQVWDUWVDW
7H[DV&ODVVLF)XWXULW\ >*@175\LQ'DVK
IRU&DVK)XWXULW\ >*@175\LQ6LUH
$7(037,1*'$6+6,ZLQVWR/RV$ODPLWRV:LQWHU
'HUE\ >*@&DOLIRUQLD%UHHGHUV¶&KDPS>5@ >*@*R0DQ*R+ >*@
QG&KDPSLRQRI&KDPSLRQV >*@(O 3ULPHUR'HO $QR'HUE\ >*@UG
*ROGHQ6WDWH'HUE\ >*@*RYHUQRU¶V&XS'HUE\>5@ >*@ ILQDOLVWLQWKH
/RV$ODPLWRV7ZR0LOOLRQ)XWXULW\ >*@9HVVHOV0DWXULW\ >*@
)LUVW7HPSWLQJ'DVK6,:LQQHUWRQG/RV$ODPLWRV'HUE\
&KDOOHQJH
1DWDOLH'DVK6,ZLQVWR ILQDOLVW >*@
$)LUVW'RZQ&KLFN6,ZLQVWR6HW 175\'DPRI±
3HUU\V6WDPLQD6,:LQQHULQVWDUWVDW ILQDOLVWLQWKH
5XLGRVR)XWXULW\ >*@
)LUVW7HPSWDWLRQ6,+ROODQG(DVH3ODFHGWR'DPRI±
&URZQV7HPSWDWLRQ6,:LQQHUWR
WKGDP
6:((7 9,&75(666,E\9LFWRU\6WULGH7%:LQQHUDW+DOIVLVWHU
WR %/86+,1* %8* 6, /<116 $//$17( 6, 0$.((0%/86+6, /HDYLQJ0HPRULHV6,
>*@ %OXVKLQJ 6WUHDNHU 6, 'DP RI IRDOV520LQFOXGLQJ±
7(0370(1276,6LU$OLEL6WDNHVZLQQHUDERYH
7HPSWHGE\7LWOHV6,&DVK/HJDF\ZLQVWR86$LQ0H[
LFRQG7KH4XDUWHU5DFLQJ-RXUQDO6 ILQDOLVW >*@
5DUH7HPSWDWLRQ5DUH)RUP'DPRI6QRZ17H[DV6,ZLQVWR
ILQDOLVWLQWKH:HVW7H[DV-XYHQLOH,QY>5@ >*@
5*3
+LS1R
&RQVLJQHGE\0DUW\3RZHUV$JHQW
%LOO\%LOO\%\R
+LS1R
-DQXDU\%URZQ&ROW
,QVHSHUDEOH6,
%LOO\%LOO\%\R
-HVV,GDKR%OXH
{
6HSD U DWLVW6,
{ &KLFNV%HGXLQR6,
6HSHUDWH:D\V6,
$'HOLJKWI XO/HJD F\6,
{ )LUVW'RZQ'DVK6,
)RUW XQH2I'HOLJKW6,
{
-HVV/RXLV LD QD%OXH6,
{ 0U-HVV3HUU\6,
7KH/RXLV LD QD*LUO6,
)XOO7LPH$WW UDFW LRQ
{ )LUVW'RZQ'DVK6,
)DY RULWH$WW UDFW LRQ6,
%\,16(3(5$%/(6,&KDPSLRQ\HDUROGFKDPSLRQ\HDUROG
FROW ZLQV $OO $PHULF
DQ 'HUE\ >*@ 5DLQERZ 'HUE\ >*@
%URWKHUWR6(3$5$7(,17(5(676,6LUHRI520VWDNHVZLQQHUV
LQFO*2/'',**,1* $6+/(<6, ZLQV6:
-XY&KDPS6>*@352172$/(;6,ZLQV/DLFR%LUG6
>5@68''(16(3$5$7,216,(<(*27,7*2,1*216,
VWGDP
-(66,'$+2%/8(E\-HVV/RXLVLDQD%OXH8QUDFHG'DPRIIRDORIUDFLQJ
DJHDQXQVWDUWHG\HDUROG
QGGDP
)8//7,0($775$&7,21E\)LUVW'RZQ'DVK3ODFHGDW6LVWHUWR +DOI
7LPH$WWUDFWLRQ6,'DPRIIRDOVWRUDFHLQFOXGLQJ±
:KDGD\DPHDQ6,IE\7UHV6HLVZLQVWR
/RFDO$WWUDFWLRQIE\6HSDUDWLVW8QSODFHG'DPRI±
%LRQLF&DW6,ZLQVWR
UGGDP
)$925,7($775$&7,216,E\(DV\-HW:LQQHUDW+DOIVLVWHUWR 12
%/(66(6,;6, >*@ 385(''$6+6,0H[LF
DQ
&KDPSLRQ 12%/(66(2%/(*(6,'DPRIIRDOVWRUDFHZLQ
QHUVLQFOXGLQJ±
+DOI7LPH$WWUDFWLRQ6,)LUVW'RZQ'DVK:LQQHUDWQG7KH
&ODVVLFV)XWXULW\>5@UG&DOLIRUQLD-XYHQLOH&KDOOHQJH >*@'DPRI±
$32//,7,&$/ 7,0( 6, &KDPS LRQ $JHG +RUVH &KDPS LRQ
<HDU2OG)LOO\ &KDPSLRQ$JHG0DUH %URRGPDUHRIWKH<HDU
ZLQVWR/RV$ODPLWRV6XSHU'HUE\ >*@0LOGUHG19HVVHOV
0HPRULDO + >*@ /RV $ODPLWRV ,QY &KDPS >*@ *RYHUQRU¶V &XS
'HUE\>5@ >*@&DOLIRUQLD&KDOOHQJH&KDPS >*@HWF'DPRI±
$32//,7,&$/-(66 6, :RUOG&KDPSLRQ &KDPSLRQ<HDU2OG
&KDPSLRQ<HDU2OG&ROWZLQVLQVWDUWVWR/RV
$ODPLWRV 6XSHU 'HUE\ >*@175 &KDPSLRQ RI &KDPSLRQV >*@175
QG/RV$ODPLWRV7ZR0LOOLRQ)XWXULW\ >*@$OO$PHULFDQ'HUE\ >*@6LUH
,Q+LV'UHDPV6,ZLQVWRQG'HQLP1'LDPRQGV6
'HQLP1'LDPRQGV+>5@UG9DQG\V)ODVK+ >*@/D3DFLILFD6
2FHDQVLGH+>5@ TXDOLILHG >*@'DPRI±
32/,7,&
$/ 237,21 6, ZLQV WR 'HOWD 6
>5@1750U-HVV3HUU\/RXLVLDQD'RZQV6>5@QG/4+%$)XWXULW\
>5@ >*@/RXLVLDQD&KDPSLRQV'D\'HUE\>5@ >*@2SHORXVDV6>5@
UG/4+%$6DOH)XWXULW\>5@ >*@/RXLVLDQD&ODVVLF6>5@ >*@HWF
6,==/,1&$57(/6,ZLQVWR)LUHFUDFNHU)XWXULW\
>*@175 QG +DUUDK¶V (QWHUWDLQPHQW )XWXULW\ >*@ )LUHFUDFNHU
'HUE\UG2OG6RXWK'HUE\
/28,6
,$1$%/8('5($06,ZLQVWR$OO$PHULFDQ
-XYHQLOH,QYQG5HPLQJWRQ'LVWDII&KDOOHQJHUG5HPLQJWRQ3DUN
'HUE\ >*@
7LPH)RU7KH6HQDWRU6,:LQQHULQVWDUWVDWUG
+DUUDK¶V(QWHUWDLQPHQW)XWXULW\ >*@
+DOIWLPH6HSHUDWRU6,ZLQVWRQG:\RPLQJ$OO%UHHG
'HUE\>5@
5*3
(1*$*(0(176$4+$&KDOOHQJH
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU0HUF\ +LQNOLQ+RUVH)DUP
*RWVNLOOV 7RSD\ELOOV
+LS1R
)HEUXDU\%URZQ&ROW
O DQG(DVH6,
&RU RQD&DUW HO6,
{ +RO
&RU RQD&KLFN6,
3<&3DLQW<RXU:DJRQ6,
*RWVNLOOV 7RSD\ELOOV
5R\DOO\6WUHDN6,
{
{
'DVKLQ)ROOLHV
F LDO6,
{ 6WUDZIO\6SH
'DVKLQJ)ROO\6,
5R\DO4XLFN'DVK6,
{ )LUVW'RZQ'DVK6,
+DUHPV&KRLFH6,
6WUHDNLQ-HVVLH*DLO6,
{ 6WUHDNLQ6L[6,
+LJK2Q5LWD
%\ 3<&3$,17<285:$*216,6WDNHVZLQQHURI>*@
6LUHRI520VWDNHVZLQQHUVLQFO,0$)$1&< 3<&6,
ZLQV2NOD%UHG)XW>5*@:$*217$/(66,ZLQV
)5(,*+775$,1 % 6, %ODFN *ROG )XW >*@
-2.(521-$&.6,2.+RUVHPDQ¶V0\VWHU\)XW>5*@
QWU &58=,17+(:$*216,9DOOH\-XQFWLRQ)XW>*@
VWGDP
5R\DOO\6WUHDN6,E\5R\DO4XLFN'DVKZLQVLQVWDUWVWRUG
74+$6DOH)XWXULW\>5@ >*@'DPRIIRDOVRIUDFLQJDJHIRXU\HDUROGV
VWDUWHGWRUDFH520LQFOXGLQJ±
-(7%/$&.*2/'020(176,IE\-HW%ODFN3DWULRWZLQVWR
0LVV3ROO\&ODVVLF6 >*@)LUHFUDFNHU'HUE\QG7H[DV&ODV
VLF 'HUE\ >*@ +DUUDK¶V (QW )XWXULW\ >*@ 'HYHORS D 3ODQ 6 >*@
0RWKHU¶V'D\6>5@UG%)3KLOOLSV-U+>5@ >*@
6WLQJ/LNH$9LSHU6,IE\%URRNVWRQH%D\ZLQVWR
QG6SDUNOLQJ7LS65REOH 5RMR6%HDXWLIXO3UDLULH6
-HWEODFN*ROG6WUHDN6,JE\-HW%ODFN 3DWLRW3ODFHGLQVWDUWVDW
$SROOLWLFDO6WUHDN6,JE\ $SROOLWLFDO-HVV3ODFHGDW
QGGDP
675($.,1-(66,(*$,/6,E\6WUHDNLQ6L[ZLQVWR ILQDOLVW
7H[DV&ODVVLF)XWXULW\ >*@'DPRIIRDOVWRUDFH520LQFOXGLQJ±
)UHQFK)XU\6,JE\ 6WROLZLQVWRQG7XUI3DUD
GLVH'HUE\ -DPHV66PLWK6%XHQD3DUN6UG7XUI3DUDGLVH&KDPS
&KDOOHQJH7XUI3DUDGLVH&KDPS ILQDOLVW/RV$ODPLWRV:LQWHU&KDPS >*@
5R\DOO\6WUHDN6,IE\5R\DO4XLFN'DVK6WDNHVSODFHGZLQQHUDERYH
)RURXFLRXV-HVVLH6,JE\ 6FLQWDIO\LQJ:LQQHUWRQG5LR
5LFR)XWXULW\ >*@ ILQDOLVWLQWKH7H[DV-XYHQLOH&KDOOHQJH >*@
7UXOH\%-ROO\6,JE\ 7UXOH\)LUVW&ODVVZLQVWR ILQDOLVW >*@
)HDWXUH-HVVLH*DLO6,IE\)HDWXUH0U-HVVZLQVWR ILQDOLVW
&KDUJHU%DU+ >*@ 3&4+5$%UHHGHUV¶'HUE\ >*@/DV 'DPDV+ >*@
UGGDP
+,*+215,7$E\2Q$+LJK8QUDFHG'DPRIRWKHUIRDOWRUDFH
WKGDP
/$85,7$-(7%$56,E\-HW'HFNZLQVDW6LVWHUWR /$85,7$
%$5-(76,'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
=HYLWD6,=HYL7%ZLQVLQVWDUWVWRUG)RXU&RUQHUV
)XWXULW\)RXU&RUQHUV'HUE\'DPRI±
9LVLRQ2I'DVK6,:LQQHUWR'DPRI±
5($/9,6,2166,ZLQVLQVWDUWVWR5HPLQJWRQ
'HUE\ >*@QG2NODKRPD)XWXULW\ >*@UG7H[DV&ODVVLF)XW >*@
:$59,6,2166,ZLQVWR 9LQWRQ6>5@ >*@UG'HOWD
'RZQV/RXLVLDQD%UHG'HUE\>5@ >*@
63(&,$/9,6,2166,ZLQVWR5RFN\ +HLQ]LJ0HPR
ULDO6UG5HPLQJWRQ3DUN)XWXULW\ >*@
,6((9,6,2166,ZLQVWR6RXWK)ORULGD,QYHWF
7H[DV9LVLRQ6,ZLQVWRQG.H\:HVW6
6L[9LVLRQV6,ZLQVWRQG2NODKRPD'LVWDII &KOJ
(1*$*(0(176$4+$&KDOOHQJH$OO$PHULFDQ5DLQERZ5XLGRVR)XW
(PEU\RWUDQVIHU
5*3
+LS1R
&RQVLJQHGE\%XUQV5DQFK$JHQW
.RRO+DZN
+LS1R
)HEUXDU\6RUUHO)LOO\
+DZNLQVRQ6,
.RRO+DZN
.RRO.XH&KLFN6,
{
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
2K/D3URXG6,
O H\¶V&KDPS LRQ7%
{ 6KLU
2K/D5HH6,
{
&KLFNV%HGXLQR6,
{ %HGXLQR7%
$&ODVV\&KLFN6,
.RRO.XH6,
{ 6RPH.LQGD0DQ6,
.RRO.LWW\6,
%\ +$:.,1621 6, &KDPSLRQ >*@ +DOI EURWKHU WR
FKDPSLRQV+$:.,6+6,)/$0(1)/$6+6,6LUHRI520
VWDNHVZLQQHUVLQFO675$:.,166,FKDPSLRQ\HDUV
$4+$ &KOJ &KDPS >*@ %) )$50 %266 6, ZLQV
5XLGRVR'HUE\>*@6,;,6+6,ZLQV3&4+5$
%GUV)XW>*@63$5.<(%2<6,>*@67$57/(7+$:.
VWGDP
.22/.8(&+,&.6,E\&KLFNV%HGXLQR:LQQHUWR'DPRI
IRDOVRIUDFLQJDJHWKUHH\HDUROGVDOOVWDUWHGWRUDFH520LQFO±
.22/&$'(6,JE\+DZNLQVRQZLQVWR%ULJDQG2YHU
QLJKW6$OO$PHULFDQ-XYHQLOH,QY>5@QG6XQODQG&KDPS&KDOOHQJH
>*@ ILQDOLVWLQWKH5DLQERZ'HUE\ >*@$4+$&KDOOHQJH&KDPS >*@
+$:..8(3,(6,IE\+DZNLQVRQZLQVWR/DV'DPDV
+ >*@QG&DOLIRUQLD%UHHGHUV¶0DWURQ6>5@ >*@+XQWLQJWRQ+DUERXU
6UG$%:KDWD5XQQHU6 ILQDOLVWLQWKH0LOGUHG9HVVHOV+ >*@'DPRI±
'XULR6,JE\)RRVHZLQVDW
QGGDP
.22/.8(6,E\6RPH.LQGD0DQ:LQQHUDW'DPRIIRDOVWR
UDFHZLQQHUVLQFOXGLQJ±
.22/.8(%$%<6,IE\*RQH7R7KH0DQ &KDPSLRQ$JHG+RUVH
&KDPSLRQ$JHG0DUH &KDPSLRQ$JHG0DUHZLQVLQVWDUWVWR
$4+$&KDOOHQJH&KDPS >*@WZLFH$4+$'LVWDII&KDOOHQJH
&KDPS >*@6DP+RXVWRQ&ODVVLF >*@2NODKRPD&KDPS&KDOOHQJH
>*@7H[DV&KDPS&KDOOHQJH >*@WZLFH(DVWH[+ >*@(DVW&KDPS
&KDOOHQJH >*@6DP+RXVWRQ&ODVVLF >*@WZLFH74+$6LUHV¶&XS'HUE\
>5@ >*@7ULQLW\0HDGRZV0DWXULW\5HIULJHUDWRU6)UDQFHV&DUU'LVWDII
6 'HQWRQ 6 <HOORZ 5RVH 6 $UPDGLOOR 6 0RFNLQJELUG 6 :DOOHU
&RXQW\ 6 0DQRU 'RZQV + , 74+$ 6LUHV¶ &XS 0DWXULW\ >5@ 3ULGH RI
7H[DV+>5@+DUULV&RXQW\+>5@QG5HPLQJWRQ&KDPS >*@HWF'DP
RI ),567.22/%$%<6,ZLQVLQVWDUWV >*@ ),5671
.22/ 6, >*@ 6(3$5$7,67 %$%< 6, >*@ /,77/(.22/%$5%,(6, >*@ .22/:$*216,
JUDQGGDP RI 3$,17 0( 3(55< 6, WR 2NODKRPD)XWXULW\ >*@QG5HPLQJWRQ2NOD%UHG'HUE\>5@
>*@ .22/ &28175< 0$1 6, >*@ /,77/( (<(
23(1(56, 67(/.22/6, %DUELH&DUWHO6,DW
>5@ >*@ %DUELHV'\QDVW\6, &KLFNLH.RRO6,
.22/,7<$:/6,IE\%\<DZOZLQVWR$OO&DQDGLDQ)XWX
ULW\UG5XQQ\PHGH&RUS5XQIRU&DVK)XWXULW\'DPRI 0602//,(
0$/21(6, .22/.,1'$67$56, $.RRODK&ODVV
6, 0LVWUHVV2I7KH1LWH6,JUDQGGDPRI ),567.22/
021(<6,&DQDGLDQ&KDPSLRQ 21(.22/%8'6,
2QH.RRO6KDNH6,
/HDYLQJ.RROPHPRULHV6,IE\/HDYLQJ0HPRULHV:LQQHU*UDQGGDPRI
&$//+(5'((6, 6HSDUDWH&DUWHO6, >*@
,P:LOOLH.RROIE\:LOOLH:DQWD'DVK8QSODFHG'DPRI :LOOLH'DVKHU6,
.RROLVW6,WR >*@
(1*$*(0(176$4+$&KDOOHQJH/RV$ODPLWRV7ZR0LOOLRQ)XW
5*3
(OLJ
LEOHIRU&DO%UHGDFFUHGLW DWLRQHPEU\RWUDQVIHU
+LS1R
+LS1R
&RQVLJQHGE\-HUU\ :LQGKDP
5DFH\,FRQ
$SULO%D\)LOO\
7H[DV,FRQ6,
5DFH\,FRQ
5DFLQJ:LQQ HU6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
-HQQLIHU.DWH6,
W DO6LJQ6,
{ 9L
.LSW\.DWH6,
{
5XQD ZD\:LQQ HU6,
{ %HGXLQR7%
0LVV)DVW&KLF6,
/DOHOL6,
F LDO(II RUW6,
{ 6SH
2QFH8SRQ$'UHDP6,
%\7(;$6,&216,6WDNHVZLQQHURIUDFHV45DFLQJ
6 QG +HULW DJH 3ODFH 'HUE\ >*@ 7XUI 3DUDGLVH -XY &KOJ UG
(YDQJHOLQH'RZQV'HUE\+DOIEURWKHUWR .$7(6'<1$67<6,FKDP
SLRQ+LVILUVWIRDOVDUH\HDUOLQJVRI6RQRIVWDNHVZLQQHU&2521$
&$57(/6,VLUHRIFKDPSLRQVLQFO%/8(6*,5/7226,ZRUOG
FKDPSLRQ>*@7(//(5&$57(/6, >*@
VWGDP
5$&,1*:,11(56,E\5XQDZD\:LQQHUZLQVWR&HQWUDO
'HUE\&KDOOHQJH >*@+HUW]5HQW$&DU6QG$OWRRQD'HUE\ >*@UG
&HQWUDO 'LVWDII &KDOOHQJH >*@ .RRO .XH %DE\ 6 ILQDOLVW LQ WKH 0DQRU
'RZQV'HUE\ >*@6LVWHUWR :LQQLQJ)ODLU6,'DPRIIRDOVRIUDFLQJ
DJHLQFOXGLQJD\HDUROGFXUUHQWO\UDFLQJWRUDFH520LQFOXGLQJ±
5$&,1* 675($. 6, I E\ 6WUHDNLQ 6L[HV ZLQV WR 6LOHVWRQH6>5@ 74+$7H[DV%UHG6>5@QG(DVW'LVWDII&KDOOHQJHUG
%DUQPDVWHU6SULQW6>5@ >*@ ILQDOLVWLQWKH5XLGRVR)XWXULW\ >*@
+DZNLQJ6,JE\ +DZNLQVRQZLQVWRUG/RV$ODPLWRV
6XSHU'HUE\ >*@ TXDOLILHGWR/RV$ODPLWRV:LQWHU&KDPS >*@
6KD]HH6,IE\6KD]RRPZLQVWRUG/D 3DFLILFD66JW
3HSSHU)HDWXUH+'DPRI±
2QH6ZHHW 6KD]HH6,IE\2QH6ZHHW-HVV:LQQHUDW
:LQQHUV&DUWHO6,JE\7HOOHU&DUWHOZLQVWR ILQDOLVWLQWKH
$OO$PHULFDQ)XWXULW\ >*@ TXDOLILHGWR5DLQERZ)XWXULW\ >*@
:LQQHUV6WUHDN6,JE\6WUHDNLQ6L[HV:LQQHUWR
=RRPLQ5DFHUJE\-HVV =RRPLQ3ODFHGLQVWDUWVDW
QGGDP
/$/(/,6,E\6SHFLDO(IIRUW:LQQHUDW ILQDOLVWLQWKH.DQVDV
'HUE\ >*@'DPRIIRDOVWRUDFH520LQFOXGLQJ±
9,7$/7,0( 6,IE\9LWDO6LJQZLQVLQVWDUWVWR$4+$
'HUE\&KDOOHQJH&KDPS >*@ -XY &KOJ&KDPS >*@HWF6HW 175\
5$&,1*:,11(56,IE\5XQDZD\:LQQHU6WDNHVZLQQHUDERYH
/D /DOLTXH6,IE\&RURQD&DUWHOZLQVWRQG5XLGRVR
'HUE\ >*@ TXDOLILHGWR5DLQERZ'HUE\ >*@
:LQQLQJ)ODLU6,IE\5XQDZD\:LQQHUZLQVWRQG6DQ
-DFLQWR6>5@ TXDOLILHG WR 74+$%UHHGHUV¶)XWXULW\>5@ >*@'DPRI±
),5673/$&(:,16,ZLQVWR(DVW-XYHQLOH&KDOOHQJH
>*@UG6RSKRPRUH6KRZGRZQ6 ILQDOLVW >*@
*$/,216,ZLQVWR0LOH+LJK'HUE\
675($.,1)/$,56,ZLQVWR/D 9LOOLWD6UG(DVW'LVWDII
&KDOOHQJH ILQDOLVWLQWKH0DQRU'RZQV'HUE\ >*@
'DUH7R)ODLU 6,:LQQHUUG/RV$ODPLWRV6XSHU'HUE\ >*@
6KD]RRPHU6,ZLQVWRQG)RUG(DVW-XYHQLOH&KDO
OHQJH >*@(O0RUR'H &XPSDV6/H[LQJWRQ&KDOOHQJH6SULQW6HWF
)DYRUHG6,ZLQVWRQG +REEV$PHULFD)XWXULW\ >*@ ILQDO
LVW >*@'DPRI )DYRUHG)LUH6,DW >*@
&DWFKLQ:LQQLQJV 6,ZLQVWRQG0DQRU'RZQV)XW >*@
6WROL $OLNDW'DPRI 0$*,&%/$&.-$&.6,DW>5@ >*@
5DFLQJ 5H]RRPV6,JE\6KD]RRPZLQVQG0DQLWRED%UHG'HUE\
(1*$*(0(176$4+$&KDOOHQJH
5*3
(PEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\6WHYH+ROW$JHQWIRU%LOO3ULFH
%3)OLQJLQ6RXWK
+LS1R
)HEUXDU\%D\&ROW
7UHV6HLV6,
%3)OLQJLQ6RXWK
6RXWKH UQ)OLQJ6,
{
6L[DUXQ6,
{ 6WUHDNLQ6L[6,
&KLFNDUXQ6,
2XU7KLUG'HOLJKW6,
L F\7%
{ 5HE¶V3RO
7LQ\¶V'HOLJKW6,
{
6RXWKH UQ&DUW HO6,
U RQD&DUW HO6,
{ &R
6RXWKH UQ3ROLF\6,
)ULVFR)OLQJ
{ 'DVK)RU&DVK6,
*R0LWH\0LWH6,
%\75(66(,66,&KDPSLRQFROW>*@6LUHRI520
VWDNHVZLQQHUVLQFO2&+2$6,FKDPSLRQDW
$OO $PHULF
DQ )XW >*@ 75(6 3$66(6 6, ZLQV
/RV $ODPLWRV 7ZR 0LOOLRQ )XW >*@ :,/' 6,; 6, 5DLQERZ)XW>*@75(6)5,(1'66,5DLQERZ
)XW>*@),1&+(6,>5*@',$021'75(66(,66,
VWGDP
6287+(51)/,1*6,E\6RXWKHUQ&DUWHOZLQVWR ILQDOLVWLQWKH
2NODKRPD%UHG'HUE\>5@ >*@)DLU0HDGRZV%HOOHV6 >*@'DPRIIRDOV
RIUDFLQJDJHLQFOXGLQJDQXQVWDUWHG\HDUROGWRUDFHERWKZLQQHUV±
%36287+(51'<1$67<6,JE\)'''\QDVW\ZLQVWR
)//DG\%XJ6>5@QG5HPLQJWRQ3DUN2NODKRPD%UHG'HUE\
>5@ >*@UG6RRQHU6WDWH6>5@ >*@ ILQDOLVWLQWKH6RRQHU6WDWH6>5@
>*@(DV\-HW6>5@ >*@ TXDOLILHGWR-DFN%URRNV6>5@ >*@
%36287+(51:$9( 6,JE\:DYH&DUYHUZLQQHUWR
86$LQ0H[LFR&O(DVLO\D3RVVXPSODFHGLQVWDUWVDWLQ86
QGGDP
)5,6&2)/,1*E\'DVK)RU&DVK8QSODFHG6LVWHUWR'DVK6'LDPRQG6,
JUDQGGDPRI 52<$/48,&.',$021'6, >*@5LWD$QQV
'DVKGDPRI 68&&(66)8/'$6+6,KDOIVLVWHUWR 7KLQN
$0LWH6,,*RWXP6,JUDQGGDPRI 5($/($6<&$6+>$3+$@6,
$3+$ :RUOG&KDPSLRQ $3+$ &KDPSLRQ <HDU2OG '2&725
675($.,16,'DPRIIRDOVWRUDFHZLQQHUVLQFO±
$5($/0$1 6,+H]D)DVW0DQ &KDPSLRQ<HDU2OG &KDPSLRQ
<HDU2OG*HOGLQJZLQVWR5HPLQJWRQ'HUE\ >*@175
\LQ+HULWDJH3ODFH'HUE\ >*@6RRQHU6WDWH6>5@QG7H[DV
&ODVVLF'HUE\ >*@UG$OO$PHULFDQ'HUE\ >*@5DLQERZ'HUE\ >*@
%36-803,1)5,6&26,JE\-XPSQZLQVWR6LJQDWXUH
67DOODKDVVHH6%HDXWLIXO3UDLULH6QG0U-HW0RRUH+UG+HULWDJH
3ODFH'HUE\ >*@(DV\-HW6>5@ >*@5HPLQJWRQ2NOD%UHG'HUE\>5@
HWF ILQDOLVW$OO$PHULFDQ'HUE\ >*@/RV$ODPLWRV7ZR0LOOLRQ)XW >*@
$ &$57(/ )/,1* 6, I E\ &RURQD &DUWHO ZLQV WR 2NODKRPD+RUVHPHQ¶V$VVRFLDWLRQ'HUE\>5@ >*@UG2NODKRPD%UHG
)XWXULW\>5@ ILQDOLVWLQWKH2NODKRPD%UHG'HUE\>5@ >*@'DPRI±
$5R\DO)OLQJ6,IE\7KLV6QRZ,V5R\DOZLQVWR
QG%ODFN*ROG)XWXULW\>5@ ILQDOLVW%ODFN*ROG)XWXULW\&KDPS
7KDWV7KH0DQ 6,JE\+H]D)DVW0DQZLQVWRQG([SR
6TXDUH6UG%ULJDQG+ >*@6HW1:5DW5HPLQJWRQ\LQ
$5R\DOH)OLQJ6,IE\7KLV6QRZ,V5R\DOZLQVWRQG
)DLU0HDGRZV0DWXULW\UG1HZ0H[LFR'LVWDII&KDOOHQJH >*@
-HVV7KH0DQ6,FE\0U-HVV3HUU\ZLQVWRUG2NODKRPD
-XYHQLOH&KDOOHQJH >*@ ILQDOLVWLQWKH2NODKRPD'HUE\ >*@6LUH
%3V)ULVFR&KLFN6,ZLQVDWQG4+5$RI,QGLDQD66$)XW
$6QRZ\)OLQJ6,IE\7KLV6QRZ,V5R\DO:LQQHUWRQG$45$7XUI
3DUDGLVH2SHQ'HUE\ >*@'DPRI $612:<&$57(/6,ZLQVLQ
VWDUWVDW >*@ %36QRZ\6XFFHVV6,
$7ULFN\)OLQJ6,JE\7ULFN\)XQ7%ZLQVWR ILQDOLVW >*@
(1*$*(0(176$OO$PHULFDQ5DLQERZ5XLGRVR)XW
$FFUHGLWHG2NODKRPD%UHG
5*3
+LS1R
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQWIRU%XUO\5-HQNLQV
&ODVV\*UD\3HDUO
0DUFK*UD\)LOO\
7HOOHU&DUW HO6,
&ODVV\*UD\3HDUO
$FODVV\PRRYH6,
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
-HW$ORQJ-DPLH6,
{ (DV\-HW6,
-DLPLH-D\6,
{
&KLFNV %HGXLQR6,
{ %HGXLQR7%
$&ODVV\&KLFN6,
0LV6WDUWLQJ*DWH
{ )LUVW'RZQ'DVK6,
0RR9LQ0DU\6,
%\7(//(5&$57(/6,&KDPSLRQFROW$OO$PHULF
DQ
)XW>*@6LUHRIVWDNHVZLQQHUVLQFOXGLQJ //$127(//(5
6,ZLQV$OO$PHULF
DQ'HUE\>*@5XLGRVR'HUE\>*@
//$12&$57(/6,>*@&$57(/48,&.6,
5XLGRVR)XW>*@ %2,*(25*(6,:HVW7H[DV)XW>*@
1LJKWWLPH/LQHV6,>*@ +855,&$57(/6,
VWGDP
$FODVV\PRRYH6,E\&KLFNV %HGXLQR:LQQHUWRQG6WDUVDQG
6WULSHV+'DPRIOLYLQJIRDOVRIUDFLQJDJHWRUDFH520LQFOXGLQJ±
&ODVV\ 0RRYHU6,IE\)LVKHUV'DVKZLQVWR
7KRU2I)LUH6,JE\:DON7KUX)LUHZLQVWR
&ODVV\ 0RYLQ)HDWXUH6,IE\)HDWXUH0U-HVVZLQVLQVWDUWVWR
2VDJH%OXIIFE\7HOOHU&DUWHO3ODFHGLQVWDUWVDW
QGGDP
0,667$57,1**$7(E\)LUVW'RZQ'DVK8QSODFHG6LVWHUWR 0$5<6022
9,1),5676, 0RR9LQ)LUVW6,'DPRIIRDOVWRUDFHDOOZLQQHUV
LQFOXGLQJ±
$FODVV\PRRYH6,IE\&KLFNV%HGXLQR6WDNHVSODFHGZLQQHUDERYH
&KLFNV(\HIE\&KLFNV %HGXLQR8QUDFHG'DPRI±
(\HV2Q0\&RURQD6,ZLQVWR TXDOLILHGWR5XLGRVR)XW >*@
UGGDP
0229,10$5<6,E\6PRRWK0RYHZLQVWR6W3DWULFN¶V
6QG/RV$ODPLWRV'HUE\UG7XPEOHZHHG'HUE\6LVWHUWR :DJJLQ2Q
6,KDOIVLVWHUWR 1R $ODEDL6, 6XQ'RJ'HFN6,2XWRI :DJRQ¶V
3HW6,'DPRIIRDOVWRUDFH520LQFOXGLQJ±
0$5<60229,1),5676,)LUVW'RZQ'DVKZLQVWR
9HQWXUD6UG'HEXWDQWH6 ILQDOLVW/RV$ODPLWRV'HUE\ >*@'DPRI±
6R6WULNLQJ6,:LQQHUWRQG:HVW7H[DV-XYHQLOH,QY>5@
0RR9LQ-HVV6,ZLQVWR
0RR9LQ)LUVW6,)LUVW'RZQ'DVKZLQVWRQG(O 3ULPHUR
'HO $QR'HUE\ >*@&DOLIRUQLD'HUE\>5@ >*@7RZQ3ROLF\+>*@ ILQDOLVW
LQ WKH /RV $ODPLWRV 'HUE\ >*@ *ROGHQ 6WDWH 'HUE\ >*@ TXDOLILHG WR
*ROGHQ6WDWH)XWXULW\ >*@6LUH
'HOLF
DWH'DQFHU6,%HGXLQR7%ZLQVWRUG 4+%&3DFLILF
&ODVVLFV'HUE\>5@ ILQDOLVWLQWKH*RYHUQRU¶V&XS'HUE\>5@ >*@'DPRI±
'DQFLQJ)RU5R\DOW\6,ZLQVWRQG/D &KLULSDGD6 >*@
ILQDOLVWLQWKH 6XQODQG3DUN)DOO'HUE\ >*@
6HFUHW7HUPV6,ZLQVWR'DPRI±
/D (VWHUOLQD6,ZLQVWRUG 5LFRK6>5@ ILQDOLVW >*@
7KH)HGHUDO([SUHVV6,%HGXLQR7%ZLQVWR6LUH
7\FRRQ 7LOOLH6,7LPHWR 7KLQNULFK3ODFHGWR'DPRI±
+XPGHGXP6,:LQQHUDWUG016WDOOLRQ%UHHGHUV¶)XW>5@
0RR9LQ3ROLF\5HE¶V3ROLF\7%8QUDFHG'DPRI±
%$1'2)3/($685(6,ZLQVLQVWDUWVWR3DFLILF+
>*@0DOLEX%HDFK6 3&4+5$%UHHGHUV¶)XWXULW\>5@'DPRI±
$2QH*LUO%DQG6,ZLQVWRQG 4+%&)UHVKPDQ >*@
621*,10<'5($066,ZLQVWR+XQWLQJWRQ%HDFK6
QG'DVKIRU&DVK'HUE\ >*@7RZQ3ROLF\+ >*@HWF
(1*$*(0(176$4+$&KDOOHQJH
5*3
+LS1R
+LS1R
&RQVLJQHGE\/D]\(5DQFK//&$JHQW
+DQQD%UHH]H
0DUFK6RUUHO)LOO\
2QH'DVKLQJ(DJ OH6,
+DQQD%UHH]H
+DQQD% -D]]LQ6,
{
2QH)DP RXV(DJ OH6,
{ 0U-HVV3HUU\6,
2QH)DP RXV/DG\6,
2QH6ZHHW'DVK6,
{ )LUVW'RZQ'DVK6,
6ZHHW %HGXLQR6,
{
-D]]LQJ+L6,
{ 0HUULGRF6,
$QQD+L6,
%HDX:LQG\6,
{ 'XFN'DQFH7%
:LQG\ -LQJ6,
%\21('$6+,1*($*/(6,:RUOGFKDPSLRQFKDPSLRQ\HDU
ROGFKDPSLRQ\HDUROGFROWVWDNHVZLQQHURIUDFHVLQVWDUWVDW
$OO $PHULF
DQ )XW >*@ *ROGHQ 6WDWH 0LOOLRQ )XW >*@ (G
%XUNH0LOOLRQ)XW>*@+DOIEURWKHUWR21(6:((7-(666,+LVILUVW
IRDOVDUH\HDUOLQJVRI6RQRIFKDPSLRQ21()$0286($*/(6,
VLUHRIVWDNHVZLQQHUVFKDPSLRQVLQFOXGLQJ21('$6+,1*($*/(
VWGDP
+DQQD% -D]]LQ6,E\-D]]LQJ+LZLQVWRQG /4+%$-XYH
QLOH>5@UG (YDQJHOLQH'RZQV-XYHQLOH6>5@ ILQDOLVWLQWKH/4+%$)X
WXULW\>5@ >*@/RXLVLDQD&KDPSLRQV'D\-XYHQLOH6>5@ >*@'DPRI
IRDOVRIUDFLQJDJHWRUDFHDOOZLQQHUV±
%ORRG5HG&DGLOODF6,FE\ 3<&3DLQW<RXU:DJRQZLQVWR
ILQDOLVWLQWKH +REEV$PHULFD)XWXULW\ >*@
3DQWKHU% -D]]LQ6,JE\3DQWKHU0RXQWDLQZLQVWR
+H]D)DVW-D]]PDQ6,JE\ +H]D)DVW'DVK:LQQHUWR
7KH*DPH,V2QIE\*DPH3DWULRW:LQQHUDW
QGGDP
%($8:,1'<6,E\'XFN'DQFH7%ZLQVDW 6XZDQQHH%HOOH
6'DPRIIRDOVWRUDFH520LQFOXGLQJ±
%($8 &$6+$129$6,JE\6LU &DVKDQRYDZLQVWR
0DUGL*UDV'HUE\>5@ >*@0LVV3ROO\&ODVVLF ILQDOLVW /4+%$)XW>5@ >*@
:,1'<3(55<6,IE\0U-HVV3HUU\ZLQVWR/RXLVLDQD
%UHHGHUV¶/DVVLH)XWXULW\>5@ >*@'DPRI±
-(66/89&+,&.66,ZLQVWR'RQ%R\G0HPRULDO6
/H[LQJWRQ&KDOOHQJH6SULQW6175UG&RQJUHVV0DWXULW\
-HVV'DVKLQJ'DUOLQJ:LQQHUWR'DPRI±
-6*7RDVW<RXU%XQV6,ZLQVWRQG6RXWK9DOOH\)XW
-HVV 6WUDZIO\LQ6,ZLQVWR ILQDOLVW5HPLQJWRQ)XWXULW\ >*@
+DQQD%-D]]LQ6,IE\-D]]LQJ+L6WDNHVSODFHGZLQQHUDERYH
-HVV0U3HUU\6,FE\0U-HVV3HUU\ZLQVWRUG/HH%HU
ZLFN)XWXULW\>5@ >*@ ILQDOLVWLQWKH /4+%$)XWXULW\>5@ >*@6LUH
%HDX &DVKLQ,Q6,JE\/LO(DV\&DVK:LQQHUWRQG0DUGL
*UDV)XWXULW\>5@ >*@ ILQDOLVWLQWKH0DUGL*UDV'HUE\>5@ >*@
3ULQFHO\'DQFHU6,IE\3ULQFHO\3OHDVXUH7%ZLQVWR'DPRI±
+2//<:22'3(55<6,ZLQVWR0DUGL*UDV)XWXULW\
>5@ >*@175 \ LQ 0DUGL *UDV 'HUE\ >5@ >*@ QG
/4+%$)XWXULW\>5@ >*@'HOWD/RXLVLDQD%UHHGHUV¶)XWXULW\>5@ >*@
7D\ORU0DGH&DVK6,ZLQVDWQG0DUGL*UDV)XW>5@ >*@
3ULQFHO\'DLV\6,ZLQVWRUG*R9LFNL0H\HUV6 ILQDOLVWLQ
WKH/RXLVLDQD'RZQV&KDPSLRQV&ODVVLF>5@ >*@
6WUHDNLQ'XFKHVV6,:LQQHUDW'DPRI±
7KH5HDO*DPH 6,ZLQVWRQG/HH%HUZLFN)XW>5@ >*@
%HGDZHH%HDX6,IE\ 6RPHNLQGDGDVK3ODFHGWR'DPRI 620(.,1'$
%($8 6, >5@ >*@175 \ %LJWLPH %HDX 6, >5@ >*@ )LUVW'RZQ %HGDZHH6,
0LVV %HDX :LQG\ I E\ *URV 2UHLOOH 8QSODFHG LQ VWDUWV 'DP RI
3DQWKHULVODQG6,>5@ >*@
(1*$*(0(176$4+$&KDOOHQJH/RV$ODPLWRV7ZR0LOOLRQ)XW*ROGHQ
6WDWH0LOOLRQ)XW(G%XUNH0LOOLRQ)XW
5*3
+LS1R
&RQVLJQHGE\5R\DO9LVWD(TXLQH,QF$JHQWIRU9DXJKQ-LOO&RRN
.LVVLQ&RURQDV
+LS1R
)HEUXDU\%URZQ)LOO\
O DQG(DVH6,
&RU RQD&DUW HO6,
{ +RO
&RU RQD&KLFN6,
&RU RQDV)DVW'DVK6,
.LVVLQ&RU RQDV
.LSW\V)LUVW.LVV6,
{
{
'DVK)DVW*LUO6,
{ +H]D)DVW0DQ6,
)LUVW3UL]H5RVH7RR6,
)LUVW'RZQ'DVK6,
{ 'DVK)RU&DVK6,
)LUVW3UL]H5RVH6,
.LSW\V.LVVHV6,
{ .LSW\V&KDUJHU6,
.HOO\V.LVVHV6,
%\&2521$6)$67'$6+6,6WDNHVSODFHGZLQQHURIUDFHV
QG +HULW DJH 3ODFH 'HUE\ >*@ IQO $OO $PHULF
DQ )XW >*@
%URWKHUWR9$&+(77$6,6LUHRI520LQFO6,*12)&2521$6,
ZLQV/HV%RLV'HUE\&KOJ5HG&RURQD:DUULRU6,ZLQV
QG74+$6LUHV¶&XS)XW>*@&RURQDV'DZQ6,
&RURQDV )DVW *DPH 6, ZLQV QG %LWWHUURRW )XW >5@
VWGDP
.,37<6),567.,666,E\)LUVW'RZQ'DVK:LQQHUWR ILQDOLVWLQ
WKH&DOLIRUQLD-XYHQLOH&KDOOHQJH >*@6LVWHUWR ,0$5$0%/,1*,5/6,
),567 72 5$0%/( 6, 'DP RI IRDOV RI UDFLQJ DJH WZR
\HDUROGVERWKVWDUWHGWRUDFH520±
.LVV7KLV9LVLRQ6,JE\9LVLRQDULDQZLQVWR
)LUVW)RU&RURQD6,JE\6WHO&RURQDZLQVWR
.LSW\-DPHV6,JE\,YRU\-DPHV:LQQHUWR
*RRG)RU.LVVLQ6,IE\*RRG5HDVRQ6$3ODFHGLQVWDUWVDW
QGGDP
.,37<6.,66(66,E\.LSW\V&KDUJHUZLQVLQVWDUWVWR
&RRUV'LVWULEXWRUV'HUE\ >*@-HW'HFN+ >*@:DOWHU0F,OKHQQ\6WDUV
6WULSHV6QG3DFLILF+ >*@HWF+DOIVLVWHUWR .,660(5($/($6<6,
GDPRI 6+(=$1(21526(6,JUDQGGDPRI +28',1,
6,WR $',260<$0,*266,>5@
>*@ 3+27260$576, >*@ 2./$+20$%$1','26,
>*@ 3$17+(5,17+()$67/$1( 6, 'DPRIIRDOVWRUDFHZLQQHUVLQFOXGLQJ±
,0$5$0%/,1*,5/ 6,IE\)LUVW'RZQ'DVK &KDPSLRQ<HDU2OG
)LOO\ZLQVWR'DVKIRU&DVK'HUE\ >*@-RH%7XUQHU0HPR
ULDO6$OO$PHULFDQ6QG'DVKIRU&DVK-XYHQLOH>5@ >*@*DUUHWW¶V0LVV
3DZKXVND 6 &HQWUDO 'LVWDII &KOJ 6RRQHU 7UDLOHU 6 UG 'LVWDII &KOJ
&KDPS >*@ 6HW 175 \ LQ 'DP RI 5DPEOLQ &DUWHO 6, >*@ +D&KL0DPD6, &PRQ0DQ6,
+(=$ 5$0%/,1 0$1 6, J E\ 7DNLQ 2Q 7KH &DVK ZLQV WR /RV$ODPLWRV&KDPS >*@WZLFH-XYHQLOH&KOJ&KDPS >*@
2NOD&KDPS&KOJ >*@WZLFH&DOLIRUQLD&KOJ&KDPS >*@0LGZHVW
&LW\6 >*@(75\LQ7ZR5LYHUV6 >*@:6:-XY&KOJ
QG5HPLQJWRQ)XW >*@&KOJ&KDPS >*@$OO$PHULFDQ'HUE\ >*@
),567725$0%/( 6,)LUVW'RZQ'DVKZLQVWR.LQJ
5LFN5DFN6 >*@2NOD'LVWDQFH&KOJ >*@&RYHUHG%ULGJHV6 >*@HWF
.LVVHV7HDVSRRQ 6,IE\(DV\-HWZLQVWRQG0RRUH6
/D]\(1DW¶O4+-RFNH\&KDPSUG2NOD)XW >*@HWF'DPRI /,7
7/(%,72)$++$6, >*@JUDQGGDPRI /($9,1*7+(
68*$56, '5($0,1*2).,66(66, >*@
7ULFN2I7KH(\H6,ZLQVWRUG%OXH5LEERQ'HUE\ >*@
.LVVHV)RU&DVK6,IE\&DVK/HJDF\ZLQV'DPRI .,66(6$1<
:+(5(6,%XHQR0LVTXLWR6, IQO>5@ >*@
6KH]D5DPEOLQ7RR6,IE\7DNLQ2Q7KH&DVKZLQV'DPRI 6+(=
48,&.725$0%/(6,ZLQVLQVWDUWVDW 5DPEOLQ
0RXQWDLQ6,JUDQGGDPRI 21(5$0%/,1/$'<6,
(1*$*(0(176$4+$&KDOOHQJH
5*3
$FFUHGLWHG&RORU DGR%UHGHPEU\RWUDQVIHU
+LS1R
&RQVLJQHGE\7DWH)DUPV$JHQW
0V 6RPHWKLQ%DG
+LS1R
0DUFK6RUUHO)LOO\
0U 2WW\HV6,
0V 6RPHWKLQ%DG
0V 5LGJHOLQH
{
&RU RQD&DUW HO6,
O DQG(DVH6,
{ +RO
&RU RQD&KLFN6,
5HW XUQ2 7RROH6,
7RROH6,
{ -RG\2
5HW XUQ)ODPLQJ
{
(DV\:LQQLQJ-HW6,
D ZD\:LQQ HU6,
{ 5XQ
(DV\3DW ULF LD6,
0V%DVHOLQH6,
W DO6LJQ6,
{ 9L
0RWKHUV0LVF KLHI6,
%\05 277<(66,6WDNHVSODFHGZLQQHURIUDFHVUG
0DQRU'RZQV'HUE\>*@ IQO6DP+RXVWRQ)XW>*@6LUHRI520LQ
FOXGLQJ 7(;$6,1'(3(1'(1&(*$/6,ZLQV'HOWD-XYH
QLOH &KOJ 2WW\HV9DOHQWLQH*DO6,ZLQVUG 74+$6LUHV¶
&XS 'HUE\ >*@ 2WW\HV &DUWHO 6, ZLQV 2WW\HV 6KLQH\
&XHUYR6,ZLQV 2WW\HV%D\6RQ6,ZLQQHU
VWGDP
06 5,'*(/,1(E\(DV\:LQQLQJ-HW8QUDFHG6LVWHUWR 05621,&%220
6,7KLVLVKHUILUVWIRDO
QGGDP
06%$6(/,1(6,E\9LWDO6LJQ:LQQHUWR'DPRIIRDOVWRUDFH
LQFOXGLQJ±
05621,&%2206,JE\(DV\:LQQLQJ-HWZLQVWR
/4+%$6DOH)XWXULW\>5@ >*@*LOOHVSLH&RXQW\)DLU)XWXULW\ >*@ ILQDOLVW
LQWKH0DUGL*UDV)XWXULW\>5@ >*@'HOWD'RZQV/RXLVLDQD%UHG'HUE\>5@
>*@/RXLVLDQD&KDPSLRQV'D\-XYHQLOH>5@ >*@
UGGDP
027+(560,6&+,()6,E\2Q$+LJK:LQQHUDW'DPRIRWKHUIRDOV
WRUDFH
WKGDP
0DVNHR %DE\ 6, E\ 0DVNHR /DG ZLQV DW QG 7ULQLW\
0HDGRZV)XWXULW\UG7ULQLW\ 4+$)XWXULW\+DOIVLVWHUWR 5HEHOHQD.D\6,
6XUH 4XLN (QXI6,'DPRIIRDOVWRUDFH
520LQFOXGLQJ±
,V,W7UXH6,/HDYLQJ0HPRULHVZLQVWRUG$ODEDPD%UHG
-XYHQLOH6QG'LY>5@
0U 0DVNHR0RRQ6,0RRQ/DUN:LQQHUWR
0DVNHR3DVV6,3DVVµ(P8S7%3ODFHGDW
0DVNHR0HORG\0RRQ/DUN8QUDFHG(TXL6WDW:35$EDUUHOHDUQLQJVRI
/D]\(%DUUHO)XWXULW\&KDPSLRQ
5*3

Similar documents

spooks smokin cat - Silverstone Ranch

spooks smokin cat - Silverstone Ranch $PDWHXU:RUOG&KDPSLRQILQDOLVWLQWKH1&+$1RQ3UR)XWXULW\DQG1&+$ 1RQ3UR6XSHU6WDNHVVSOLWWK*ROG 6LOYHU More information