7yhj[pjl ;yhjrz - ncss...(]hpshisl wyhj[pjl [yhjrz huk qvi yvslz:vjphs ^vyr pz h wyhj[pjl ihzlk...
TRANSCRIPT
>OH[�PZ�ZVJPHS�^VYR�HUK�^OH[�KV�ZVJPHS�^VYRLYZ�KV&
7YHJ[PJL�;YHJRZ
/V^�KV�0�\ZL�[OL�5:>*-�[V�KL]LSVW�T`�JHYLLY&
<UKLYZ[HUKPUN�T`�KL]LSVWTLU[�ULLKZ
*YLH[PUN�T`�KL]LSVWTLU[�WSHU
+LHY�ZVJPHS�^VYRLYZ�
:VJPHS�^VYR�PU�:PUNHWVYL�OHZ�JVTL�H�SVUN�^H`�ZPUJL�P[Z�ILNPUUPUNZ�PU�[OL�� ��Z��:VJPHS�^VYR�HZ�H�KPZJPWSPUL�HUK�H�WYVMLZZPVU�PZ�UV^�^LSS�YLJVNUPZLK�MVY�P[Z�JVU[YPI\[PVU�PU�ZVJPHS�JHZL^VYR��NYV\W�^VYR�
ZVJPHS�^VYRLYZ�PU�WVSPJ`�^VYR�HUK�JVTT\UP[`�KL]LSVWTLU[�HYL�UV^�JY\JPHS�PU�VYKLY�MVY�QVPU[�ZVS\[PVUZ�[V�IL�MVYTLK��
(Z�V\Y�ZVJPL[`�KL]LSVWZ��[OL�ZVJPHS�ZLY]PJL�ZLJ[VY�JVU[PU\LZ�[V�MHJL�THU`�UL^�JOHSSLUNLZ��;OL�JOHUNPUN�KLTVNYHWOPJZ�HUK�MHTPS`�Z[Y\J[\YL��PUJYLHZPUN�LJVUVTPJ�]VSH[PSP[`�HUK�PUJVTL�KPZWHYP[`�HUK�[OL�ZSV^PUN�KV^U�VM�ZVJPHS�TVIPSP[`�HSS�YLX\PYL�\Z�[V�[HRL�VU�MYLZO�WLYZWLJ[P]LZ�HUK�PU[LY]LU[PVUZ�PU�VYKLY�[V�OLSW�V\Y�ZVJPL[`�[V�IL[[LY�YLZWVUK�[V�[OLZL�JOHUNLZ���
;OL�TVYL�JVTWSL_�LU]PYVUTLU[�HSZV�JHSSZ�MVY�PU[LY�KPZJPWSPUHY`�YLZWVUZLZ�HUK�PU[LY]LU[PVUZ�HZ�^LSS�HZ�JYLH[P]L�HKHW[PVU���0U�SPUL�^P[O�[OPZ��ZVJPHS�^VYRLYZ�T\Z[�JVU[PU\L�[V�I\PSK�VU�V\Y�Z[YLUN[O�PU�OLSWPUN�[OL�]\SULYHISL�[V�RLLW�HIYLHZ[�^P[O�ZVJPL[HS�KL]LSVWTLU[Z�HUK�WYVNYLZZ��;V�KV�[OPZ�^LSS��ZVJPHS�^VYRLYZ�ZOV\SK�IL�NYV\UKLK�PU�JVYL�JVTWL[LUJPLZ�HUK�ZOHYWLU�[OLPY�THZ[LY`�VM�ZWLJPHSPZ[�RUV^SLKNL�HUK�ZRPSSZ���
0U�[OL�OVWLZ�VM�Z[YLUN[OLUPUN�[OL�ZVJPHS�^VYR�ZLJ[VY��ZVJPHS�^VYR�LK\JH[PVU�HUK�JVU[PU\PUN�WYVMLZZPVUHS�KL]LSVWTLU[�UV^�OH]L�H�JVTWL[LUJ`�YLMLYLUJL��;OL�5H[PVUHS�:VJPHS�>VYR�*VTWL[LUJ`�-YHTL^VYR��5:>*-��LUJHWZ\SH[LZ�[OL�JVTWL[LUJPLZ�H[�]HYPV\Z�SL]LSZ�VM�ZWLJPHSPZ[�RUV^�OV �̂�0[�ZLY]LZ�HZ�H�JVTTVU�
ZVJPHS�^VYR�WYHJ[PJL��;OL�JVTWL[LUJPLZ�^PSS�HSZV�PUMVYT�[OL�W\ISPJ��ZLY]PJL�\ZLYZ��WVSPJ`�THRLYZ�HUK�M\UKLYZ�VM�[OL�JVU[YPI\[PVU�VM�ZVJPHS�^VYR�HUK�JVU[YPI\[L�[V�NYLH[LY�HJJV\U[HIPSP[ �̀�0[�JHU�HSZV�IL�\ZLK�MVY�WYVMLZZPVUHS�KL]LSVWTLU[�HUK�JHYLLY�WYVNYLZZPVU��
(Z�^L�ZLLR�[V�PTWYV]L�V\Y�ZLY]PJL�KLSP]LY`�HUK�V\[JVTLZ�[OYV\NO�[OL�JVTWL[LUJ`�MYHTL^VYR��P[�PZ�LX\HSS`�PTWVY[HU[�MVY�ZVJPHS�^VYRLYZ�[V�JVUMVYT�[V�[OL�[LJOUPJHS�VY�L[OPJHS�Z[HUKHYKZ�VM�[OL�WYVMLZZPVU�HZ�ZL[�V\[�PU�[OL�*VKL�VM�,[OPJZ��;OPZ��[VNL[OLY�^P[O�[OL�5:>*-��^PSS�OLSW�[V�IYPUN�[OL�ZVJPHS�^VYR�WYVMLZZPVU�[V�NYLH[LY�OLPNO[Z�HUK�H�OPNOLY�SL]LS�VM�WYVMLZZPVUHS�TH[\YP[ �̀�
(UN�)LL�3PHU
+PYLJ[VY�VM�:VJPHS�>LSMHYL
0U�������H�Z[LLYPUN�JVTTP[[LL�JVTWYPZPUN�ZLUPVY�WYVMLZZPVUHSZ�MYVT�[OL�ZVJPHS�ZLY]PJL�HUK�OLHS[OJHYL�ZLJ[VYZ�^HZ�MVYTLK�[V�KL]LSVW�H�5H[PVUHS�:VJPHS�>VYR�*VTWL[LUJ`�-YHTL^VYR��5:>*-���^OPJO�ZL[Z�V\[�[OL�RUV^SLKNL��ZRPSSZ�HUK�H[[YPI\[LZ�YLX\PYLK�VM�ZVJPHS�^VYRLYZ�
4`�*HYLLY!�(�7YVMLZZPVUHS�+L]LSVWTLU[�.\PKL�MVY�:VJPHS�>VYRLYZ�PZ�H�JHYLLY�KL]LSVWTLU[�N\PKL�[OH[�OLSWZ�ZVJPHS�^VYRLYZ�\UKLYZ[HUK�HUK�HWWS`�[OL�5:>*-�PU�[OLPY�V^U�JHYLLY�WSHUUPUN�HUK�WYVMLZZPVUHS�KL]LSVWTLU[����
;OPZ�N\PKL�HPTZ�[V�WYV]PKL�`V\�^P[O!
@V\�ZOV\SK�\ZL�[OPZ�N\PKL�PU�JVUQ\UJ[PVU�^P[O�[OL�5H[PVUHS�:VJPHS�>VYR�*VTWL[LUJ`�-YHTL^VYR��
;OL�5:>*-�JHU�IL�KV^USVHKLK�MYVT�O[[W!��^^ �̂ZVJPHSZLY]PJLPUZ[P[\[L�ZN��
(U�V]LY]PL^�VM�[OL�ZVJPHS�^VYR�SHUKZJHWL�PU�:PUNHWVYL
0UMVYTH[PVU�HIV\[�[OL�[`WLZ�VM�QVI�YVSLZ�HUK�JHYLLY�
WH[O^H`Z�H]HPSHISL�PU�LHJO�WYHJ[PJL�
[YHJR
:[LW�I`�Z[LW�N\PKLZ�MVY�JHYLLY�WSHUUPUN�HUK�WYVMLZZPVUHS�KL]LSVWTLU[
9LZV\YJLZ�MVY�SLHYUPUN�HUK�KL]LSVWTLU[
;VNL[OLY�^P[O�[OL�5:>*-��[OPZ�N\PKL�PSS\Z[YH[LZ�`V\Y�H]HPSHISL�JHYLLY�VW[PVUZ�HUK�HZZPZ[Z�`V\�PU�`V\Y�ZLSM�KL]LSVWTLU[��;OL�N\PKL�OHZ�ILLU�VYNHUPZLK�PU[V�[^V�ZLJ[PVUZ!
*HYLLY�6WWVY[\UP[PLZ�MVY�:VJPHS�>VYRLYZ
<UKLYZ[HUK�[OL�ZVJPHS�^VYR�SHUKZJHWL!
;OL�ZJVWL�VM�ZVJPHS�^VYR�HUK�^OH[�ZVJPHS�^VYRLYZ�KV�
7VZZPISL�WYHJ[PJL�[YHJRZ�HUK�QVI�YVSLZ�MVY�ZVJPHS�^VYRLYZ
4`�*HYLLY�+L]LSVWTLU[
<UKLYZ[HUK�`V\Y�KL]LSVWTLU[�ULLKZ�HUK�WSHU�`V\Y�JHYLLY!
:LSM�HZZLZZTLU[�L_LYJPZLZ�[V�HZZLZZ�`V\Y�J\YYLU[�JVTWL[LUJ`�SL]LS�
.\PKL�[V�JOHY[�`V\Y�KL]LSVWTLU[�WSHU
0U[YVK\J[PV
U
;OPZ�JOHW[LY�WYV]PKLZ�HU�V]LY]PL^�VM�[OL�ZVJPHS�^VYR�SHUKZJHWL��PUJS\KPUN�HU�PU[YVK\J[PVU�[V!
>OH[�ZVJPHS�^VYR�PZ�HUK�^OH[�ZVJPHS�^VYRLYZ�KV
(]HPSHISL�WYHJ[PJL�[YHJRZ�HUK�QVI�YVSLZ
:VJPHS�^VYR�PZ�H�WYHJ[PJL�IHZLK�WYVMLZZPVU�[OH[�WYVTV[LZ�ZVJPHS�JOHUNL�HUK�KL]LSVWTLU[��ZVJPHS�JVOLZPVU�HUK�[OL�LTWV^LYTLU[�HUK�SPILYH[PVU�VM�WLVWSL��7YPUJPWSLZ�VM�ZVJPHS�Q\Z[PJL��O\THU�YPNO[Z��JVSSLJ[P]L�YLZWVUZPIPSP[`�HUK�YLZWLJ[�MVY�KP]LYZP[`�HYL�JLU[YHS�[V�ZVJPHS�^VYR�
:VJPHS�^VYRLYZ�Z\JO�HZ�OLHS[OJHYL��MHTPS �̀�LSKLYJHYL��KPZHIPSP[ �̀�`V\[O�HUK�JOPSKYLU�
>VYR�^P[O�WLVWSL�HUK�JVTT\UP[PLZ�PU�H�Z\Z[HPULK�^H`�[V�YHPZL�[OLPY�JHWHJP[`�[V�JVWL�^P[O�JPYJ\TZ[HUJLZ�ZV�HZ�[V�IYPUN�HIV\[�PTWYV]LK�ZVJPHS�M\UJ[PVUPUN�HUK�^LSS�ILPUN
,X\PW�JSPLU[Z�^P[O�[OL�YLX\PYLK�RUV^SLKNL�HUK�HIPSP[`�[V�UH]PNH[L�[OYV\NO�]HYPV\Z�OLSW�Z`Z[LTZ�HUK�NHPU�HJJLZZ�
[V�ULJLZZHY`�YLZV\YJLZ�HUK�ZLY]PJLZ
-HJPSP[H[L�NYV\WZ�[V�LUHISL�Z\WWVY[P]L�PU[LYHJ[PVUZ�HUK�PUKP]PK\HSZ��NYV^[O�HUK�
KL]LSVWTLU[�
*VUK\J[�YLZLHYJO�VU�ZVJPHS�PZZ\LZ��KL]LSVW�ZVS\[PVUZ��MVYT\SH[L�WVSPJPLZ�HUK�KLZPNU�WYVNYHTTLZ
0UKPYLJ[�7YHJ[PJL
*VU[PU\L�PU�+PYLJ[�7YHJ[PJL
>VYR�KPYLJ[S`�^P[O�JSPLU[Z�HUK�
WYHJ[PJL
3LHKLYZOPW
+PYLJ[�HUK�THUHNL�=>6Z�HUK�JVTT\UP[`�
VYNHUPZH[PVUZ�
)\PSK�WHY[ULYZOPWZ�[V�SLHK�HUK�WYVTV[L�
ZVJPHS�Q\Z[PJL
7VSPJPLZ�HUK�3LNPZSH[PVU
7LYMVYT�WVSPJ`�THRPUN�[V�HJOPL]L�ZVJPHS�HUK�LJVUVTPJ�Q\Z[PJL
*VUK\J[�ZLJ[VY�WSHUUPUN
9LZLHYJO�HUK�,]HS\H[PVU
*VUK\J[�YLZLHYJO�HUK�WYV]PKL�
YLJVTTLUKH[PVUZ�HUK�PUZPNO[Z
7YV]PKL�PU�KLW[O�HUK�ZWLJPHSPZ[�PUZPNO[Z�VU�
UPJOL�HYLHZ
5V[L�VU�SH[LYHS�TV]LTLU[
;OPZ�N\PKL�HUK�[OL�5:>*-�WYV]PKL�PUMVYTH[PVU�VU�[OL�JVTWL[LUJPLZ�`V\�ULLK�[V�
+PYLJ[�7YHJ[PJL�PZ�[OL�MV\UKH[PVUHS�[YHJR�MVY�HSS�WYHJ[PJLZ��JVUZPZ[PUN�VM�^VYRPUN�KPYLJ[S`�^P[O�
>OH[�KVLZ�H�JHYLLY�PU�[OL�ZVJPHS�^VYR�SHUKZJHWL�SVVR�SPRL&
4VZ[�ZVJPHS�^VYRLYZ�^PSS�Z[HY[�[OLPY�JHYLLYZ�PU�+PYLJ[�7YHJ[PJL�I`�^VYRPUN�KPYLJ[S`�^P[O�JSPLU[Z�HUK�
^VYRLYZ�TH`�JOVVZL�[V�LP[OLY�YLTHPU�PU�+PYLJ[�7YHJ[PJL�VY�TV]L�PU[V�0UKPYLJ[�7YHJ[PJL�[YHJRZ�Z\JO�HZ�7VSPJPLZ�HUK�3LNPZSH[PVU��9LZLHYJO�HUK�,]HS\H[PVU�VY�3LHKLYZOPW�
:VTL�ZVJPHS�^VYRLYZ�TH`�^VYR�PU�TVYL�[OHU�VUL�WYHJ[PJL�[YHJR�HUK�W\YZ\L�H�T\S[P�KPZJPWSPUHY`�JHYLLY^P[O�T\S[PWSL�YVSLZ�
*HYLLY�6
WWVY[\UP[PLZ�MV
Y�:VJPHS�>
VYRLYZ
-VY�L_HTWSL��3LHK�:VJPHS�>VYRLY�TH`�JVYYLZWVUK�[V�QVI�[P[SLZ�Z\JO�HZ�7YPUJPWHS�4LKPJHS�:VJPHS�>VYRLY�PU�ZVTL�W\ISPJ�OLHS[OJHYL�PUZ[P[\[PVUZ���
9LHK�[OL�QVI�KLZJYPW[PVUZ�PU�[OL�5:>*-�JHYLM\SS`�HUK�PKLU[PM`�[OL�WVZP[PVU�[OH[�TVZ[�JSVZLS`�YLZLTISLZ�`V\Y�KHPS`�YVSL��
;OLZL�HYL�[OL�ZL]LU�RL`�YLZWVUZPIPSP[`�HYLHZ��29(Z��VM�H�ZVJPHS�^VYRLY�PU�+PYLJ[�7YHJ[PJL��@V\�TH`�IL�
VYNHUPZH[PVU��[OL�ULLKZ�VM�`V\Y�JSPLU[�HUK�`V\Y�QVI�YVSL�
,UNHNL�PU�JVU[PU\HS�SLHYUPUN�HUK�WYVMLZZPVUHS�ZOHYPUN�[V�Z[H`�J\YYLU[�HUK�YLSL]HU[�PU�WYHJ[PJL��7YV]PKL�N\PKHUJL�[V�MLSSV^�ZVJPHS�^VYRLYZ�[V�LUOHUJL�ZRPSSZ��RUV^SLKNL�HUK�L_WLY[PZL�
7YV]PKL�SLHKLYZOPW�[V�MHJPSP[H[L�[OL�KL]LSVWTLU[�VM�WYVMLZZPVU�HZ�H�^OVSL��PUJS\KPUN�JVHJOPUN�HUK�TLU[VYPUN�ZRPSSZ�MVY�JHWHIPSP[`�KL]LSVWTLU[��
+L]LSVW�UL^�ZLY]PJL�KLSP]LY`�TVKLSZ��WYVNYHTTLZ�HUK�JHYL�WYV[VJVSZ�[V�WYVTV[L�IL[[LY�PU[LNYH[PVU�VM�ZLY]PJLZ�^P[OPU�[OL�VYNHUPZH[PVU�VY�ZLJ[VY�
,UNHNL�PU�YLZLHYJO�HUK�L]HS\H[PVU�HJ[P]P[PLZ�[V�NLULYH[L�UL^��HWWSPLK�RUV^SLKNL�MVY�WYHJ[PJL��
7YV]PKL�LUK�[V�LUK�JHZL�THUHNLTLU[�Z\WWVY[�HUK�HWWYVWYPH[L�SL]LS�VM�JHYL�[OYV\NO�HZZLZZTLU[��JHYL�WSHUUPUN�HUK�PU[LY]LU[PVUZ��7YV]PKL�L]HS\H[PVU�VM�JHYL�
+L]LSVW��JVUK\J[�HUK�MHJPSP[H[L�NYV\W�[OLYHW`�ZLZZPVUZ�[V�I\PSK�ZVJPHS�Z\WWVY[�Z`Z[LTZ�HUK�UL[^VYRZ�MVY�[HYNL[LK�NYV\WZ�
+L]LSVW�UL^�JVTT\UP[`�Z\WWVY[�Z`Z[LTZ�^OPJO�IYPUN�HIV\[�LUOHUJLK�WZ`JOV�ZVJPHS�^LSS�ILPUN�VM�[OL�JVTT\UP[ �̀
;OLZL�HYL�[OL�QVI�YVSLZ�^P[OPU�[OL�JHYLLY�WYVNYLZZPVU�WH[O^H`�MVY�+PYLJ[�7YHJ[PJL��*HYLLY�WYVNYLZZPVU��YVSL�
(��KL[HPSLK�SPZ[�VM�YLZWVUZPIPSP[PLZ�MVY�LHJO�YVSL�JHU�IL�MV\UK�PU�[OL�5:>*-�
:VJPHS�^VYRLYZ�PU�+PYLJ[�7YHJ[PJL�TH`�^VYR�PU�H�]HYPL[`�VM�VYNHUPZH[PVUZ��Z\JO�HZ�NV]LYUTLU[�HNLUJPLZ��]VS\U[HY`�^LSMHYL�VYNHUPZH[PVUZ��=>6Z���OVZWP[HSZ�HUK�ZVJPHS�LU[LYWYPZLZ�
4HZ[LY�:VJPHS�>VYRLY�6]LYZLL�[OL�KLSP]LY`�VM�ZVJPHS�ZLY]PJLZ�HUK�KL]LSVW�Z[YH[LNPLZ�[V�ZWLHYOLHK�[OL�KL]LSVWTLU[�VM�ZLJ[VY�^PKL�WYVNYHTTLZ�HUK�ILZ[�
WYHJ[PJLZ�
:LUPVY�4HZ[LY�:VJPHS�>VYRLY�7YV]PKL�MYHTL^VYRZ�HUK�ILZ[�WYHJ[PJLZ�[V�N\PKL�WYVMLZZPVUHS�KL]LSVWTLU[�HUK�ZVJPHS�^VYR�
WYHJ[PJL�PU�:PUNHWVYL��9VSL�TVKLS�HUK�YLWYLZLU[�[OL�ZVJPHS�^VYR�
WYVMLZZPVU��
:VJPHS�>VYRLY�0�(ZZLZZ�HUK�MVSSV^�\W�VU�JHZL�YLMLYYHSZ��(ZZPZ[�PU�PU[LY]LU[PVUZ��
NYV\W�^VYR��KL]LSVWTLU[�HUK�PTWSLTLU[H[PVU�VM�
WYVNYHTTLZ�
:VJPHS�>VYRLY�00�4HUHNL�JVTWSL_�JHZLZ�
HUK�VYNHUPZL�NYV\W�^VYR�VY�KL]LSVWTLU[�WYVNYHTTLZ��
:LUPVY�:VJPHS�>VYRLY�3LHK�JHZLZ�HUK�LZ[HISPZO�YLSH[PVUZOPWZ�^P[O�RL`�
Z[HRLOVSKLYZ�[V�^VYR�HJYVZZ�KPZJPWSPULZ��+LZPNU�HUK�THUHNL�
LUK�[V�LUK�KL]LSVWTLU[�HUK�KLSP]LY`�VM�WYVNYHTTLZ�^OPSL�ZOHYPUN�UL^�WYHJ[PJL�RUV^SLKNL�^P[O�Q\UPVYZ�
3LHK�:VJPHS�>VYRLY3LHK�HUK�JVUK\J[�JHZL�HUK�YPZR�HZZLZZTLU[�
MVY�JVTWSL_�JHZLZ�^P[O�OPNO�YPZR��/HZ�L_WLY[PZL�PU�WHY[PJ\SHY�KVTHPU�Z���:\WLY]PZL�
HUK�TLU[VY�ZVJPHS�^VYRLYZ��7YV]PKL�N\PKHUJL�[V�VYNHUPZH[PVU�VU�ZVJPHS�^VYR�WYHJ[PJL�HUK�
WYVNYHTTLZ��
*HYLLY�6
WWVY[\UP[PLZ�MV
Y�:VJPHS�>
VYRLYZ
9LZLHYJO�HUK�HUHS`ZL�ZVJPHS�[YLUKZ�HUK�JSPLU[�L_WLJ[H[PVUZ�VM�WYVNYHTTLZ�HUK�ZLY]PJLZ�WYV]PKLK��<ZL�
JY`Z[HSSPZL�WVSPJ`�PZZ\LZ�HUK�PTWSPJH[PVUZ�
-VYT\SH[L�HUK�HUHS`ZL�WVSPJPLZ��YLJVTTLUK�WVSPJ`�HJ[PVUZ�HUK�L]HS\H[L�
HUK�HKTPUPZ[YH[P]LS �̀�*VUZ\S[�^P[O�WYVNYHTTL�V^ULYZ�HUK�Z[HRLOVSKLYZ�[V�PKLU[PM`�ULLKZ�ZV�HZ�[V�N\PKL�[OL�KL]LSVWTLU[�VM�WVSPJ �̀
*YLH[L�Z[HRLOVSKLY�LUNHNLTLU[�WSHUZ�[V�
NYV\WZ��L�N��=>6Z��7\ISPJ��0U[LY�4PUPZ[Y`�L[J���[V�VI[HPU�JVUZLUZ\Z�MVY�WVSPJ �̀�PUJS\KPUN�[OL�[HPSVYPUN�VM�TLZZHNPUN�MVY�NYV\WZ��>VYR�JVSSHIVYH[P]LS`�^P[O�Z[HRLOVSKLYZ�[V�PKLU[PM`�HU`�PZZ\LZ�WVZ[�PTWSLTLU[H[PVU�
9L]PL^�J\YYLU[�SLNHS�WYV]PZPVUZ�[V�LUZ\YL�[OH[�WVSPJPLZ�WYVWVZLK�HYL�PU�SPUL�^P[O�L_PZ[PUN�SLNPZSH[PVU�
+YHM[�WVSPJ`�WHWLYZ�HUK�WYVWVZL�WVSPJ`�HJ[PVUZ�HUK�ZVS\[PVUZ�
\UKLY�Z\WLY]PZPVU�HUK�THUHNL�LUK�[V�LUK�HJ[P]P[PLZ�MVY�WVSPJ`�
PTWSLTLU[H[PVU�
*VUK\J[�MVY\TZ�HUK�HUHS`ZL�WVSPJPLZ��0TWSLTLU[�Z[YH[LNPLZ�HJJVYKPUN�[V�WVSPJ`�N\PKLSPULZ�
HUK�YL]PL^�J\YYLU[�WVSPJ`�PZZ\LZ�
:VJPHS�^VYRLYZ�PU�[OL�7VSPJPLZ�HUK�3LNPZSH[PVU�WYHJ[PJL�[YHJR�OH]L�29(Z�PU�[OLZL�MV\Y�JH[LNVYPLZ�
;OLZL�HYL�[OL�QVI�YVSLZ�^P[OPU�[OL�JHYLLY�WYVNYLZZPVU�WH[O^H`�MVY�[OL�7VSPJPLZ�HUK�3LNPZSH[PVU�WYHJ[PJL�[YHJR��*HYLLY�WYVNYLZZPVU��YVSL�H]HPSHIPSP[`�HUK�QVI�[P[SLZ�TH`�
(�KL[HPSLK�SPZ[�VM�YLZWVUZPIPSP[PLZ�MVY�LHJO�QVI�YVSL�JHU�IL�MV\UK�PU�[OL�5:>*-�
:VJPHS�^VYRLYZ�PU�[OL�7VSPJPLZ�HUK�3LNPZSH[PVU�WYHJ[PJL�[YHJR�[`WPJHSS`�^VYR�MVY�[OL�.V]LYUTLU[�HUK�NV]LYUTLU[�SPURLK�HNLUJPLZ�
+PYLJ[VY.\PKL�HUK�KYP]L�WVSPJ`�WSHUUPUN�WYVJLZZ�MVY�TLKP\T�[V�SVUN�[LYT�MVYT\SH[PVU�VM�ZLJ[VY�YLZLHYJO�HUK�WSHUUPUN��9L]PL^�WVSPJPLZ�HUK�SLHK�
WVSPJ`�THRPUN�
:LUPVY�+PYLJ[VY�6]LYZLL�KLWHY[TLU[�HZ�^LSS�HZ�YL]PL^�HUK�
HWWYV]L�YLZLHYJO�MYHTL^VYR�YLSL]HU[�[V�WVSPJ`�THRPUN��4HRL�KLJPZPVUZ�VU�YLZV\YJL�HSSVJH[PVU�MVY�WVSPJ`�PTWSLTLU[H[PVUZ�HUK�LUZ\YL�HSPNUTLU[�
^P[O�Z[YH[LNPJ�KPYLJ[PVU�
*VUK\J[�VY�SL]LYHNL�VU�YLZLHYJO�[V�KYHM[�WVSPJ`�WHWLYZ�[OH[�YLX\PYL�H�OPNOLY�SL]LS�
HUHS`ZPUN�J\YYLU[�WVSPJPLZ�HUK�PU�WVSPJ`�PTWSLTLU[H[PVU��
+L]LSVW�Z[YH[LNPJ�WSHUUPUN�MYHTL^VYR�HUK�JVTTPZZPVU�YLZLHYJO�Z[\KPLZ�H[�IYHUJO��
KLWHY[TLU[�SL]LS��3LHK�WVSPJ`�YL]PL^Z�HUK�^VYR�^P[O�YLSL]HU[�SLNPZSH[P]L�WHY[PLZ�VU�SLNPZSH[P]L�
HTLUKTLU[Z�HUK�UL^�PU[YVK\J[PVUZ�
*HYLLY�6
WWVY[\UP[PLZ�MV
Y�:VJPHS�>
VYRLYZ
7YV]PKL�YLJVTTLUKH[PVUZ�MVY�PUP[PH[P]LZ�VY�N\PKLSPULZ�[OH[�OH]L�KPYLJ[�YLSL]HUJL�[V�[OL�ZVJPHS�^VYR�WYHJ[PJL�
*VUK\J[�L[OPJHS�HUK�HJJ\YH[L��HWWSPLK�YLZLHYJO�[OH[�HKKYLZZLZ�[VWPJZ�VM�PUOLYLU[�PU[LYLZ[�[V�[OL�^PKLY�ZVJPHS�^VYR�JVTT\UP[ �̀�
(ZZLZZ��HSSVJH[L�HUK�TVUP[VY�YLZV\YJLZ�ULLKLK�MVY�YLZLHYJO�Z[\KPLZ�
7YVQLJ[�M\[\YL�ULLKZ�HUK�JOHSSLUNLZ��HUK�LUNHNL�PU�HWWYVWYPH[L�ZPT\SH[PVUZ�MVY�HK]PZVY`�HUK�YLZLHYJO�
*VUK\J[�WYVMLZZPVUHS�ZOHYPUN�HUK�LK\JH[PVU�MVY\T�MVY�SVJHS��YLNPVUHS�HUK�PU[LYUH[PVUHS�JVTT\UP[PLZ�
,]HS\H[L�J\YYLU[�WYVNYHTTLZ�
HUK�MVYT\SH[L�Z[Y\J[\YLK�MLLKIHJR�WYVJLZZLZ�
9LZLHYJO�(ZZVJPH[L7LYMVYT�SP[LYH[\YL�YL]PL^�
HWWYVWYPH[L�MVY�[OL�MYHTPUN�VM�YLZLHYJO�HUK�L]HS\H[P]L�
V\[W\[��7LYMVYT�IHZPJ�Z[H[PZ[PJHS�HUHS`ZPZ��7YLWHYL�KH[HZL[Z�MVY�
L]HS\H[P]L�HUHS`ZPZ�
:VJPHS�^VYRLYZ�PU�[OL�9LZLHYJO�HUK�,]HS\H[PVU�WYHJ[PJL�[YHJR�OH]L�29(Z�PU�[OLZL�ZP_�JH[LNVYPLZ�
;OLZL�HYL�[OL�QVI�YVSLZ�^P[OPU�[OL�JHYLLY�WYVNYLZZPVU�WH[O^H`�MVY�[OL�9LZLHYJO�HUK�,]HS\H[PVU�WYHJ[PJL�[YHJR��*HYLLY�WYVNYLZZPVU��YVSL�H]HPSHIPSP[`�HUK�QVI�[P[SLZ�TH`�
(�KL[HPSLK�SPZ[�VM�YLZWVUZPIPSP[PLZ�MVY�LHJO�YVSL�JHU�IL�MV\UK�PU�[OL�5:>*-�
:VJPHS�^VYRLYZ�PU�[OL�9LZLHYJO�HUK�,]HS\H[PVU�WYHJ[PJL�[YHJR�[`WPJHSS`�^VYR�MVY�[OL�.V]LYUTLU[��=>6Z�VY�HJHKLTPH�
:LUPVY�9LZLHYJO�(ZZVJPH[L*VUJLW[\HSPZL�KLZPNU�[VVSZ��
WLYMVYT�Z[H[PZ[PJHS�HUHS`ZPZ�HUK�ZOHYL�RUV^SLKNL�VM�YLZLHYJO�
7LYMVYT�L]HS\H[P]L�HUHS`ZPZ�HUK�
:LUPVY�9LZLHYJO�-LSSV^*VUJLW[\HSPZL��PTWSLTLU[��WLYMVYT�HUK�WYLZLU[�YLZLHYJO�HUK�L]HS\H[P]L�
HNLUJPLZ�HUK�WLLY�JVTT\UP[PLZ�[V�SLHK�JVSSHIVYH[PVU��*VUK\J[�WYVMLZZPVUHS�
[YHPUPUN�HUK�VI[HPU�MLLKIHJR�
(ZZPZ[HU[�9LZLHYJO�+PYLJ[VY(K]PZL�RL`�Z[HRLOVSKLYZ�VU�ZLJ[VY�RUV^SLKNL�HUK�VYNHUPZL�MVY\TZ�MVY�
RUV^SLKNL�L_JOHUNL��7LYMVYT�Z[YH[LNPJ�MVYLZPNO[�HUHS`ZPZ�HUK�YL]PL^�J\YYLU[�Z[HUKHYKZ��-HJPSP[H[L�LUNHNLTLU[�Z[YH[LNPLZ�^P[O�KP]LYZL�H\KPLUJL�
NYV\WZ�
9LZLHYJO�+PYLJ[VY(ZZ\TL�H�RL`�HK]PZVY`�YVSL�HUK�
ZWLHYOLHK�PU[LYUH[PVUHS�HUK�YLNPVUHS�YLZLHYJO�JVSSHIVYH[PVUZ��:LJ\YL�SHYNL�ZJHSL�M\UKPUN�MVY�YLZLHYJO�WYVQLJ[Z��
(Y[PJ\SH[L�MYVT�HU�H\[OVYP[H[P]L�WVZP[PVU�VU�ZVJPHS�ZLJ[VY�PZZ\LZ��JH\ZLZ�HUK�WVSPJPLZ�H[�T\S[PWSL�LUNHNLTLU[�
WSH[MVYTZ��SVJHSS`�HUK�PU[LYUH[PVUHSS �̀
*HYLLY�6
WWVY[\UP[PLZ�MV
Y�:VJPHS�>
VYRLYZ
8\LZ[PVUZ�MVY�`V\���>OPJO�WYHJ[PJL�[YHJR�HUK�QVI�YVSL�KV�`V\�TVZ[�PKLU[PM`�^P[O&���>OPJO�WYHJ[PJL�[YHJR�HUK�QVI�YVSL�KV�`V\�ZLL�`V\YZLSM�[HRPUN�VU�PU�
PUJS\KPUN�VWLYH[PVUHS�HUK�[HJ[PJHS�Z[YH[LNPLZ��[V�LUZ\YL�HSPNUTLU[�^P[O�[OL�V]LYHSS�TPZZPVU�HUK�]PZPVU�VM�[OL�HNLUJ �̀
WVSPJ �̀�WYVJLK\YLZ�HUK�N\PKLSPULZ�[V�LUZ\YL�JVUZPZ[LUJ`�HUK�PU[LNYP[`�VM�VWLYH[PVU�
3LHK�[OL�KL]LSVWTLU[�HUK�PTWSLTLU[H[PVU�VM�VWLYH[PVUHS�
KLSP]LY`�VM�ZVJPHS�ZLY]PJLZ�
HUK�THUWV^LY��[V�LUZ\YL�VW[PTHS�\ZHNL�
0KLU[PM`�JHWHIPSP[`�NHWZ�HUK�THUHNL�WYVMLZZPVUHS�KL]LSVWTLU[�HUK�YLZV\YJLZ�
)\PSK�HUK�SL]LYHNL�VU�JVTT\UP[`�UL[^VYR�[V�LUJV\YHNL�ZVJPHS�ZLY]PJL�PU[LNYH[PVU�
:VJPHS�^VYRLYZ�PU�[OL�3LHKLYZOPW�WYHJ[PJL�[YHJR�OH]L�29(Z�PU�[OLZL�ZP_�JH[LNVYPLZ�
(ZZPZ[HU[�4HUHNLY+PYLJ[�HUK�Z\WWVY[�[LHT�[V�HJOPL]L�[LHT��\UP[�NVHSZ�HUK�LUZ\YL�HSPNUTLU[�[V�V]LYHSS�KPYLJ[PVU�HUK�VIQLJ[P]L�VM�[OL�VYNHUPZH[PVU��/PNOSPNO[�HYLHZ�VM�LUOHUJLTLU[�[V�PTWYV]L�
;OLZL�HYL�[OL�QVI�YVSLZ�^P[OPU�[OL�JHYLLY�WYVNYLZZPVU�WH[O^H`�MVY�[OL�3LHKLYZOPW�WYHJ[PJL�[YHJR���*HYLLY�
HJYVZZ�VYNHUPZH[PVUZ��
(�KL[HPSLK�SPZ[�VM�YLZWVUZPIPSP[PLZ�MVY�LHJO�YVSL�JHU�IL�MV\UK�PU�[OL�5:>*-�
:VJPHS�^VYRLYZ�PU�[OL�3LHKLYZOPW�WYHJ[PJL�[YHJR�[`WPJHSS`�^VYR�PU�
WYHJ[PJL�
3LHK�JOHUNL�THUHNLTLU[�PU�VYKLY�[V�HJJVTWSPZO�[OL�VIQLJ[P]LZ��]PZPVU�HUK�
TPZZPVU�VM�[OL�VYNHUPZH[PVU��:[YH[LNPZL�HUK�ZL[�KPYLJ[PVU�MVY�HNLUJ`�^PKL�NV]LYUHUJL�
WVSPJPLZ��WYVJLK\YLZ��HUK�VWLYH[PVUZ��*YLH[L�ZOHYLK�WSH[MVYTZ�MVY�[OL�JVSSHIVYH[PVU�HUK�
PU[LNYH[PVU�VM�ZVJPHS�ZLY]PJLZ�IL[^LLU�=>6Z��4PUPZ[Y`�HUK�L_[LYUHS�IVKPLZ��
7YV]PKL�YLJVTTLUKH[PVUZ�HUK�V]LYZLL�[OL�PTWSLTLU[H[PVU�VM�TPK�[V�SVUN�[LYT�VWLYH[PVUHS�Z[YH[LN �̀�6]LYZLL�H�T\S[P�
[OL�\ZL�VM�YLZV\YJLZ��)\PSK�WYVMLZZPVUHS�WHY[ULYZOPW�^P[O�Z[HRLOVSKLYZ�PU�[OL�
JVTT\UP[ �̀
+PYLJ[VY7SHU�HUK�V\[SPUL�TPK��[V�SVUN�[LYT�
VWLYH[PVUHS�KPYLJ[PVUZ�[OH[�Z\WWVY[�[OL�V]LYHSS�Z[YH[LN`�VM�[OL�VYNHUPZH[PVU��(J[�HZ�H�YLWYLZLU[H[P]L�VM�[OL�HNLUJ`�[V�LUNHNL�HUK�HKKYLZZ�X\LYPLZ�MYVT�
L_[LYUHS�Z[HRLOVSKLYZ�
*HYLLY�6
WWVY[\UP[PLZ�MV
Y�:VJPHS�>
VYRLYZ
;OPZ�JOHW[LY�N\PKLZ�`V\�VU�OV^�[V�\ZL�[OL�5H[PVUHS�:VJPHS�>VYR�*VTWL[LUJ`�-YHTL^VYR��5:>*-��[V!
*YLH[L�H�KL]LSVWTLU[�WSHU
;OL�5:>*-�WYV]PKLZ�[OL�MVSSV^PUN�PUMVYTH[PVU�MVY�ZVJPHS�^VYRLYZ!
-HTPSPHYPZPUN�`V\YZLSM�^P[O�[OL�YLX\PYLK�RUV^SLKNL�HUK�ZRPSS�JVTWL[LUJPLZ�HUK�ILOH]PV\YHS�JVTWL[LUJPLZ�PZ�PTWVY[HU[�MVY�`V\Y�JHYLLY�KL]LSVWTLU[���
>OH[�HYL�JVTWL[LUJPLZ&
*VTWL[LUJPLZ�HYL�TLHZ\YHISL�VY�VIZLY]HISL�RUV^SLKNL��ZRPSSZ�HUK�ILOH]PV\YHS�H[[YPI\[LZ�
-V\UKH[PVUHS��0U[LYTLKPH[L��(K]HUJLK�HUK�^VYRLY�PZ�L_WLJ[LK�[V�KLTVUZ[YH[L�PZ�[`WPJHSS`�KL[LYTPULK�I`�OPZ�VY�OLY�QVI�YVSL�
7YHJ[PJL�[YHJRZ�MVY�ZVJPHS�^VYRLYZ;̀ WLZ�VM�JHYLLYZ��QVI�YVSLZ�HUK�JHYLLY�WYVNYLZZPVU�WH[O^H`Z�H]HPSHISL�[V�ZVJPHS�^VYRLYZ�
2L`�YLZWVUZPIPSP[`�HYLHZ��29(Z�1VI�YLZWVUZPIPSP[PLZ�VM�ZVJPHS�^VYRLYZ�PU�YLSH[PVU�[V�[OLPY�QVI�YVSLZ�
2UV^SLKNL�HUK�ZRPSS�JVTWL[LUJPLZ2UV^SLKNL�HUK�ZRPSS�YLX\PYLTLU[Z�VM�ZVJPHS�
WLYMVYT�PU�[OL RL`�YLZWVUZPIPSP[`�HYLHZ�VM�LHJO�QVI�YVSL�
)LOH]PV\YHS�JVTWL[LUJPLZ([[P[\KL�HUK�[YHP[Z�[OH[�ZVJPHS�^VYRLYZ�ZOV\SK�OH]L�[V�L_JLS�PU�[OLPY�QVI�YVSLZ�
RUV^SLKNL�HUK�ZRPSS�JVTWL[LUJPLZ�YLX\PYLK�VM�HSS�ZVJPHS�^VYRLYZ�PU�+PYLJ[�7YHJ[PJL��HZ�MVSSV^Z!
*HZL^VYR
.YV\W�>VYR
*VTT\UP[`>VYR
:VJPHS�>VYR�
*SPUPJHS�:\WLY]PZPVU
9LZLHYJO�HUK�7YVNYHTTL�,]HS\H[PVU
7YVMLZZPVUHS�3LHKLYZOPW
,[OPJZ��=HS\LZ�HUK�3LNPZSH[PVU
:`Z[LTZ�3PURHNL��(UHS`ZPZ�HUK�+L]LSVWTLU[
,U]PYVUTLU[HS�:`Z[LTZ�HUK�:VJPHS�7VSPJPLZ
4`�*
HYLLY�+L]LSV
WTLU[
)LOH]PV\YHS�JVTWL[LUJPLZ�YLMLY�[V�ZLSM�PTHNL��[YHP[Z�HUK�TV[P]LZ�VM�ZVJPHS�^VYRLYZ��;OLZL�HYL�[OL�RL`�[YHP[Z�
JVTWL[LUJPLZ�YLX\PYLK�VM�ZVJPHS�^VYRLYZ��HZ�MVSSV^Z!
,5=0:065*VTTP[�[V�ZVJPHS�]PZPVU
)\PSK�JVSSHIVYH[P]L�UL[^VYRZ,]HS\H[L(UK
,ULYNPZL :
LSM
,476>,9([[\UL�[V�JSPLU[Z��
PU[LYLZ[
5\Y[\YL�JSPLU[Z
,5()3,:LLR�PUZPNO[Z
;HRL�JV\YHNLV\Z�HJ[PVU
,3,=(;,3LHK�[LHTZ
+L]LSVW�WYVMLZZPVUHS�JHWHIPSP[PLZ
,]HS\H[L(UK
,ULYNPZL:LSM
,]HS\H[L (UK ,ULYNPZL:LSM
;OL�MVSSV^PUN�ZLSM�HZZLZZTLU[�N\PKLZ�`V\�[OYV\NO�H�Z[LW�I`�Z[LW�WYVJLZZ�VM�L]HS\H[PUN�`V\Y�J\YYLU[�JVTWL[LUJ`�SL]LS�PU�YLSH[PVU�[V�`V\Y�J\YYLU[�YVSL�HUK�HZWPYH[PVUHS�YVSL��([�[OL�LUK�VM�[OL�HZZLZZTLU[��`V\�^PSS�IL�HISL�[V�PKLU[PM`�`V\Y�KL]LSVWTLU[�ULLKZ�HUK�SLHYU�OV^�[V�HKKYLZZ�[OLT�
>OH[�HYL�KL]LSVWTLU[�ULLKZ&
+L]LSVWTLU[�ULLKZ�HYL�[OL�NHWZ�IL[^LLU�[OL�JVTWL[LUJPLZ�[OH[�`V\�J\YYLU[S`�KLTVUZ[YH[L�HUK�[OVZL�[OH[�`V\�YLX\PYL�PU�`V\Y�J\YYLU[�VY�HZWPYH[PVUHS�QVI�YVSL��
0TTLKPH[L�KL]LSVWTLU[�ULLKZ�YLMLY�[V�NHWZ�IL[^LLU�[OL�JVTWL[LUJPLZ�[OH[�`V\�J\YYLU[S`�KLTVUZ[YH[L�HUK�[OVZL�[OH[�`V\�YLX\PYL�PU�`V\Y�J\YYLU[�QVI�YVSL�
3VUN�[LYT�KL]LSVWTLU[�ULLKZ�YLMLY�[V�[OL�NHWZ�IL[^LLU�`V\Y�J\YYLU[�JVTWL[LUJPLZ�HUK�[OVZL�[OH[�`V\�YLX\PYL�PU�`V\Y�HZWPYH[PVUHS�QVI�YVSL�
;PWZ�MVY�JVTWSL[PUN�[OL�ZLSM�HZZLZZTLU[
�� )L�OVULZ[�^P[O�`V\YZLSM�^OLU�JVTWSL[PUN�[OL�ZLSM�HZZLZZTLU[�[V�VI[HPU�H�[Y\L�
�� ;OPUR�VM�PUZ[HUJLZ�^OLYL�`V\�OH]L�KLTVUZ[YH[LK�[OLZL�JVTWL[LUJPLZ�PU�`V\Y�QVI�YVSL�
�� -VY�PTWYV]LK�VIQLJ[P]P[ �̀�ZLLR�H�ZLJVUK�VWPUPVU�MYVT�H�JVSSLHN\L�^OV�PZ�MHTPSPHY�^P[O�`V\Y�WLYMVYTHUJL�H[�^VYR��Z\JO�HZ�`V\Y�WLLY��TLU[VY�VY�JVHJO�
<ZL�[OPZ�ZLSM�HZZLZZTLU[�[VVS�WVZ[LK�VUSPUL
(JJLZZ�O[[W!��^^ �̂ZVJPHSZLY]PJLPUZ[P[\[L�ZN�MVY�HU�,_JLS�[VVS�[OH[�^PSS�LHZL�[OL�HZZLZZTLU[�WYVJLZZ�
*VTWSL[L�[OL�ZLSM�HZZLZZTLU[�PU�[OPZ�N\PKL
VY
4`�*
HYLLY�+L]LSV
WTLU[
+PYLJ[�7YHJ[PJL7VSPJPLZ�HUK�3LNPZSH[PVU
9LZLHYJO�HUK�,]HS\H[PVU
3LHKLYZOPWZOV\SK�IL
:LUPVY�4HZ[LY�:VJPHS�>VYRLY
4HZ[LY�:VJPHS�>VYRLY
:LUPVY�+PYLJ[VY
+PYLJ[VY
+LW\[`�+PYLJ[VY
:LUPVY�(ZZPZ[HU[�+PYLJ[VY
9LZLHYJO�+PYLJ[VY
(ZZPZ[HU[�9LZLHYJO�+PYLJ[VY
,_LJ\[P]L�+PYLJ[VY
+PYLJ[VY�,_WLY[
3LHK�:VJPHS�>VYRLY
(ZZPZ[HU[�+PYLJ[VY
:LUPVY�4HUHNLY
:LUPVY�9LZLHYJO�-LSSV^
9LZLHYJO�-LSSV^
:LUPVY�(ZZPZ[HU[�+PYLJ[VY
(ZZPZ[HU[�+PYLJ[VY
(K]HUJLK
:LUPVY�:VJPHS�>VYRLY
4HUHNLY
(ZZPZ[HU[�4HUHNLY
:LUPVY�9LZLHYJO�(ZZVJPH[L
:LUPVY�4HUHNLY�
4HUHNLY0U[LYTLKPH[L
:VJPHS�>VYRLY�00
:VJPHS�>VYRLY�0
9LZLHYJO�(ZZVJPH[L
(ZZPZ[HU[�4HUHNLY -V\UKH[PVUHS
:[LW���0KLU[PM`�`V\Y�J\YYLU[�HUK�HZWPYH[PVUHS�QVI�YVSLZ
0KLU[PM`�[OL�QVI�YVSL�[OH[�ILZ[�KLZJYPILZ�`V\Y�J\YYLU[�K\[PLZ�
>OH[�PM�0�OH]L�T\S[PWSL�QVI�YVSLZ&
TH`�PKLU[PM`�[OL�YVSL�`V\�ZWLUK�TVZ[�VM�`V\Y�[PTL�VU�HZ�`V\Y�7YPTHY`�9VSL�HUK�V[OLYZ�HZ�`V\Y�:LJVUKHY`�9VSL�Z���-VJ\Z�VU�VUL�YVSL�H[�H�[PTL�^OLU�JVTWSL[PUN�[OL�L_LYJPZL�
0M�`V\�OH]L�WPJRLK�[OL�MVSSV^PUN�QVI�YVSL�
`V\Y�KL]LSVWTLU[�ULLKZ
:LSLJ[�[OL�JVTWL[LUJPLZ�PU�[OL�5:>*-�^OPJO�HYL�TVZ[�HWWSPJHISL�[V�`V\�HUK�LU[LY�[OLT�PU�*VS\TU�(�
HUK�HZWPYH[PVUHS�QVI�YVSLZ�HUK�LU[LY�[OLT�PU�*VS\TUZ�)�HUK�*�YLZWLJ[P]LS �̀
`V\Y�J\YYLU[�HUK�HZWPYH[PVUHS�QVI�HUK�[PJR�*VS\TUZ�+�HUK�,�YLZWLJ[P]LS �̀0KLU[PM`�`V\Y�KL]LSVWTLU[�ULLKZ�PU�*VS\TU�-��0M�`V\�OH]L�[PJRLK��)LSV^��MVY�*VS\TU�+��[OLU�[OL�JVTWL[LUJ`�PZ�HU�HYLH�VM�PTTLKPH[L�KL]LSVWTLU[�ULLK��0M�`V\�OH]L�[PJRLK��)LSV^��MVY�*VS\TU�,��[OLU�[OL�JVTWL[LUJ`�PZ�HU�HYLH�VM�SVUN�[LYT�KL]LSVWTLU[�ULLK��
JOPSKYLU��HUK�OLHS[OJHYL��
�4LKPJHS�ZVJPHS�^VYRLYZ�TH`�YLMLY�[V�[OL��<UKLYZ[HUKPUN�[OL�9VSLZ�HUK�*VTWL[LUJPLZ�VM�4LKPJHS�:VJPHS�>VYRLYZ��OHUKIVVR�
4`�*
HYLLY�+L]LSV
WTLU[
*VS\TU�( *VS\TU�) *VS\TU�* *VS\TU�+ *VS\TU�, *VS\TU�-
*VTWL[LUJ` [V�WLYMVYT�H[�PU�T`�J\YYLU[�QVI�YVSL
3L]LS�0�^V\SK�SPRL�[V�WLYMVYT�H[�PU�T`�HZWPYH[PVUHS�QVI�YVSL��PU���[V���`LHYZ�
3L]LS�0�HT�J\YYLU[S`�WLYMVYTPUN�H[�PZ�
SL]LS�T`�J\YYLU[�QVI�YVSL
3L]LS�0�HT�J\YYLU[S`�WLYMVYTPUN�H[�PZ�
SL]LS�VM�T`�HZWPYH[PVUHS�QVI�YVSL
;OPZ�JVTWL[LUJ`�PZ�HU
-V\UKH[PVUHS
0U[LYTLKPH[L
(K]HUJLK
,_WLY[
-V\UKH[PVUHS
0U[LYTLKPH[L
(K]HUJLK
,_WLY[
)LSV^
0Z�[OL�ZHTL�HZ
(IV]L
)LSV^
0Z�[OL�ZHTL�HZ
(IV]L
(YLH�VM�PTTLKPH[L�KL]LSVWTLU[�ULLK
(YLH�VM�SVUN�[LYT�KL]LSVWTLU[�ULLK
-V\UKH[PVUHS
0U[LYTLKPH[L
(K]HUJLK
,_WLY[
-V\UKH[PVUHS
0U[LYTLKPH[L
(K]HUJLK
,_WLY[
)LSV^
0Z�[OL�ZHTL�HZ
(IV]L
)LSV^
0Z�[OL�ZHTL�HZ
(IV]L
(YLH�VM�PTTLKPH[L�KL]LSVWTLU[�ULLK
(YLH�VM�SVUN�[LYT�KL]LSVWTLU[�ULLK
-V\UKH[PVUHS
0U[LYTLKPH[L
(K]HUJLK
,_WLY[
-V\UKH[PVUHS
0U[LYTLKPH[L
(K]HUJLK
,_WLY[
)LSV^
0Z�[OL�ZHTL�HZ
(IV]L
)LSV^
0Z�[OL�ZHTL�HZ
(IV]L
(YLH�VM�PTTLKPH[L�KL]LSVWTLU[�ULLK
(YLH�VM�SVUN�[LYT�KL]LSVWTLU[�ULLK
-V\UKH[PVUHS
0U[LYTLKPH[L
(K]HUJLK
,_WLY[
-V\UKH[PVUHS
0U[LYTLKPH[L
(K]HUJLK
,_WLY[
)LSV^
0Z�[OL�ZHTL�HZ
(IV]L
)LSV^
0Z�[OL�ZHTL�HZ
(IV]L
(YLH�VM�PTTLKPH[L�KL]LSVWTLU[�ULLK
(YLH�VM�SVUN�[LYT�KL]LSVWTLU[�ULLK
�@V\�TH`�HKK�VU�TVYL�YV^Z�MVY�HKKP[PVUHS�JVTWL[LUJ`�HZZLZZTLU[Z�HZ�YLX\PYLK�
4`�J\YYLU[�QVI�YVSL�PZ�JSVZLZ[�[V�[OH[�VM�H!�
-V\UKH[PVUHS 0U[LYTLKPH[L (K]HUJLK ,_WLY[
T`�J\YYLU[�QVI�YVSL
T`�HZWPYH[PVUHS�QVI�YVSL
[V�JYLH[L�`V\Y�KL]LSVWTLU[�WSHU�[V�HKKYLZZ�[OLT���;OLYL�HYL�H�U\TILY�VM�SLHYUPUN�HUK�KL]LSVWTLU[�PU[LY]LU[PVUZ�H]HPSHISL�[V�HKKYLZZ�`V\Y�PTTLKPH[L�HUK�SVUN�[LYT�NVHSZ�
(J[PVU�;PWZ:[LW�� 3VVR�MVY�L_WLYPLUJLZ�[OH[�HYL�HSPNULK�[V�`V\Y�JHYLLY�PU[LYLZ[Z�HUK�NVHSZ
:[LW�� *OLJR�[OH[�[OL�L_WLYPLUJL�YLX\PYLZ�JVTWL[LUJPLZ�[OH[�`V\�^V\SK�SPRL�[V�KL]LSVW
:[LW����*VTT\UPJH[L�`V\Y�KLZPYL�[V�[HRL�VU�UL^�L_WLYPLUJLZ�[V�YLSL]HU[�Z[HRLOVSKLYZ�Z\JO�HZ�`V\Y�Z\WLY]PZVY�VY�/\THU�9LZV\YJL�+LWHY[TLU[
6U�[OL�QVI�L_WLYPLUJLZ�YLMLY�[V�[OL�SLHYUPUN�[OH[�[HRLZ�WSHJL�PU�L]LY`KH`�ZL[[PUNZ�H[�`V\Y�^VYRWSHJL��@V\�JHU�KL]LSVW�`V\Y�JVTWL[LUJPLZ�I`�WYVHJ[P]LS`�ZLLRPUN�V\[!
1VI�LUYPJOTLU[��LUSHYNLTLU[9V[H[PVUHS�HZZPNUTLU[Z*YVZZ�M\UJ[PVUHS�ZOHKV^PUN:WLJPHS�WYVQLJ[Z*VTTP[[LL�HZZPNUTLU[Z
9VSLZ�VU�H�[HZR�MVYJL6WWVY[\UP[PLZ�[V�NP]L�WYLZLU[H[PVUZ�HUK�WYLWHYL�YLWVY[Z6WWVY[\UP[PLZ�[V�SLHK�H�UL^�WYVNYHTTL��ZWLJPHS�WYVQLJ[Z
8\PJR�-HJ[
�HYL�[`WPJHSS`�[OL�[VW�JVU[YPI\[VY�[V�SLHYUPUN�HUK�KL]LSVWTLU[��;OPZ�PZ�MVSSV^LK�I`�JVHJOPUN�HUK�TLU[VYPUN��HUK�[YHPUPUN�HUK�LK\JH[PVU��
*VHJOPUN�HUK�TLU[VYPUN
;YHPUPUN�HUKLK\JH[PVU
4`�*
HYLLY�+L]LSV
WTLU[
*VHJOPUN;HZR�VYPLU[LK
:OVY[�[LYT[OL�ZOVY[�[LYT�NVHS
-PUK�H�JVHJOHJX\PYL�UL^�ZRPSSZ�YLSH[LK�[V�WLYMVYTHUJL�PU�`V\Y�JHYLLY
4LU[VYPUN9LSH[PVUZOPW�VYPLU[LK^OPJO�`V\�JHU�ZOHYL�PZZ\LZ�JVUJLYUPUN�`V\Y�WYVMLZZPVUHS�HUK�WLYZVUHS�
3VUN�[LYT
-PUK�H�TLU[VY�^OLU�`V\�HYL�ZLLRPUN�H�ZHML�LU]PYVUTLU[�[V�KPZJ\ZZ�`V\Y�JHYLLY�KL]LSVWTLU[
(J[PVU�;PWZ:[LW�� �<UKLYZ[HUK�`V\Y�KL]LSVWTLU[�ULLKZ��HUK�KLJPKL�^OPJO�JVTWL[LUJPLZ�`V\�^V\SK�SPRL�[V�
KL]LSVW�
:[LW�� 3VVR�MVY�ZVTLVUL��WYLMLYHIS`�H[�`V\Y�^VYRWSHJL��^OV�L_JLSZ�PU�[OL�JVTWL[LUJPLZ�[OH[�`V\�SHJR�PU��+PYLJ[�Z\WLY]PZVYZ�HYL�\Z\HSS`�NVVK��JHUKPKH[LZ�MVY�ILPUN�`V\Y�JVHJO�
:[LW��(ZR�^OL[OLY�OL�VY�ZOL�^V\SK�IL�HISL�[V�JVHJO�`V\�PU�[OVZL�HYLHZ��:L[�H�NVHS�`V\�^V\SK�SPRL�[V�YLHJO��HUK�ZL[�\W�[OL�MYLX\LUJ`�HUK�K\YH[PVU�VM�TLL[PUNZ�
:[LW�� )L�YLZWLJ[M\S�VM�`V\Y�JVHJO�Z�[PTL�HUK�ZOV^�`V\Y�HWWYLJPH[PVU�MVY�[OLPY�OLSW�
(J[PVU�;PWZ:[LW��
:[LW��
HUK�ZVTLVUL�^OVT�`V\�SVVR�\W�[V�
:[LW��`V\�HKTPYL�OPZ�VY�OLY�WYVMLZZPVUHS�JHWHIPSP[PLZ��HUK�ZH`�[OH[�`V\�^V\SK�SPRL�[V�TLL[�\W�YLN\SHYS`�[V�SLHYU�MYVT�OPZ�VY�OLY�L_WLYPLUJL��:L[�H�SVVZL�Z[Y\J[\YL�VM�OV^�VM[LU�`V\�^V\SK�SPRL�[V�TLL[�
:[LW����4HPU[HPU�`V\Y�YLSH[PVUZOPW�I`�YLHJOPUN�V\[�YLN\SHYS �̀�9LJPWYVJH[L�^OLUL]LY�`V\�JHU�HUK�L_WYLZZ�`V\Y�HWWYLJPH[PVU�
0[�PZ�VM[LU�OLSWM\S�[V�SLHYU�MYVT�V[OLYZ�^OV�TH`�IL�TVYL�HK]HUJLK�PU�[OLPY�JHYLLY�KL]LSVWTLU[��L_WLYPLUJL�VY�ZRPSSZ�
;YHPUPUN�HUK�LK\JH[PVU�YLMLYZ�[V�SLHYUPUN�[OYV\NO�H�MVYTHS�WYVNYHTTL�JVUK\J[LK�LP[OLY�^P[OPU�VY�V\[ZPKL�VM�`V\Y�VYNHUPZH[PVU��,_HTWSLZ�PUJS\KL�^VYRZOVWZ��ZOVY[�JV\YZLZ�HUK�WVZ[NYHK\H[L�KLNYLLZ��@V\�TH`�JVUZ\S[�`V\Y�WLLYZ��Z\WLY]PZVYZ��TLU[VYZ�VY�/\THU�9LZV\YJL�JVSSLHN\LZ�MVY�YLJVTTLUKH[PVUZ�VM�\ZLM\S�
:VJPHS�:LY]PJL�0UZ[P[\[L��::0�
>VYRMVYJL�+L]LSVWTLU[�(NLUJ`��>+(�
/LHS[OJHYL�3LHKLYZOPW�*VSSLNL
-HTPS`�9LZV\YJL�HUK�;YHPUPUN�*LU[YL�
�-9;*�
(NLUJ`�MVY�0U[LNYH[LK�*HYL��(0*��3LHYUPUN�
0UZ[P[\[L
*P]PS�:LY]PJL�*VSSLNL��*:*�
NV]LYUHUJL�HUK�THUHNLTLU[�HUK�VYNHUPZH[PVUHS�KL]LSVWTLU[��O[[W!��^^ �̂ZVJPHSZLY]PJLPUZ[P[\[L�ZN�
;OL�>+(�Z�7YVMLZZPVUHS�*VU]LYZPVU�7YVNYHTTL�MVY�:VJPHS�>VYRLYZ��7*7�:>��Z\WWVY[Z�TPK�JHYLLY�PUKP]PK\HSZ�[V�HJX\PYL�YLSL]HU[�RUV^SLKNL�HUK�ZRPSSZ�YLX\PYLK�[V�X\HSPM`�HZ�ZVJPHS�^VYRLYZ���(WWSPJHU[Z�T\Z[�IL�ZLSLJ[LK�I`�H�WHY[PJPWH[PUN�LTWSV`LY���O[[W!��^^ �̂^KH�NV]�ZN�
;OL�/LHS[OJHYL�3LHKLYZOPW�*VSSLNL�PZ�H�KP]PZPVU�VM�46/�/VSKPUNZ�7[L�3[K��HUK�WYV]PKLZ�JV\YZLZ�PU�[OL�HYLHZ�VM�SLHKLYZOPW�KL]LSVWTLU[��VYNHUPZH[PVUHS�KL]LSVWTLU[��WVSPJ`�WLYZWLJ[P]LZ�HUK�OLHS[O�Z`Z[LT�KLZPNU�HUK�PUUV]H[PVU��
�O[[W!��^^ �̂OSJ�TVOO�JVT�ZN�PUKL_�O[TS�
-9;*�PZ�[OL�[YHPUPUN�HJHKLT`�VM�:PUNHWVYL�(ZZVJPH[PVU�VM�:VJPHS�>VYRLYZ��;OL�ZLY]PJLZ�WYV]PKLK�I`�-9;*�PUJS\KL�JVTWL[LUJ`�[YHPUPUN�HUK�ZVJPHS�^VYR�Z\WLY]PZPVU����O[[W!��^^ �̂ZHZ �̂VYN�ZN�ZP[L�HIV\[�MY[J�
(0*�3LHYUPUN�0UZ[P[\[L�WYV]PKLZ�^VYRMVYJL�KL]LSVWTLU[HS�[YHPUPUN�HUK�ZRPSSZ�[YHPUPUN�WYVNYHTTLZ�[V�ZVJPHS�^VYRLYZ�HUK�V[OLY�WYVMLZZPVUHSZ�LTWSV`LK�PU�[OL�0U[LYTLKPH[L�HUK�3VUN�;LYT�*HYL��03;*��ZLJ[VY���O[[W!��HPJ�ZN�SLHYUPUNPUZ[P[\[L��
*:*�PZ�H�Z[H[\[VY`�IVHYK�\UKLY�[OL�7\ISPJ�:LY]PJL�+P]PZPVU��7YPTL�4PUPZ[LY�Z�
JHWHJP[`�PU�NV]LYUHUJL��SLHKLYZOPW��W\ISPJ�HKTPUPZ[YH[PVU�HUK�THUHNLTLU[�MVY�H�UL[^VYRLK�NV]LYUTLU[�PU�:PUNHWVYL��O[[W!��^^ �̂JZJVSSLNL�NV]�ZN��
4`�*
HYLLY�+L]LSV
WTLU[
:[LW���0KLU[PM`�`V\Y�PTTLKPH[L�HUK�SVUN�[LYT�KL]LSVWTLU[�ULLKZ
*VS\TUZ�(�HUK�)���
:[LW���0KLU[PM`�[OL�HWWYVWYPH[L�SLHYUPUN�HUK�KL]LSVWTLU[�PU[LY]LU[PVUZ
0KLU[PM`�HUK�LU[LY�[OL�ZLSLJ[LK�SLHYUPUN�PU[LY]LU[PVU�Z��PU�*VS\TU�*�MVY�LHJO�JVTWL[LUJ �̀
:[LW���*OHY[�`V\Y�KL]LSVWTLU[�WSHUZ
:LSLJ[�[OL��*V\YZL�VM�HJ[PVU��MVY�LHJO�WSH[MVYT��KL[LYTPUL�[OL�HZZVJPH[LK��,_WLJ[LK�SLHYUPUN�V\[JVTL��HUK�LU[LY�[OLZL�PU�*VS\TUZ�+�HUK�,�YLZWLJ[P]LS �̀�
+LJPKL�VU�[OL��,_WLJ[LK�JVTWSL[PVU�KH[L���*VS\TU�,���-VY�PTTLKPH[L�KL]LSVWTLU[�ULLKZ��[OL�JVTWSL[PVU�KH[L�ZOV\SK�[`WPJHSS`�IL�^P[OPU�H�`LHY��-VY�SVUN�[LYT�KL]LSVWTLU[�ULLKZ��[OL�JVTWSL[PVU�
;HRL�HJ[PVU�HUK�HJOPL]L�`V\Y�NVHS��9L]PZP[�`V\Y�WSHU�YLN\SHYS`�[V�LUZ\YL�[OH[�`V\�HYL�VU�[YHJR�
/V^�KV�0�PKLU[PM`�[OL�HWWYVWYPH[L�PU[LY]LU[PVU�Z[YH[LN`&�
0M�[OL�\UKLYS`PUN�YLHZVU�MVY�`V\Y�NHW�PZ�H�SHJR�VM�L_WVZ\YL�VY�L_WLYPLUJL��ZLLR�V\[�VU�[OL��
0M�[OL�\UKLYS`PUN�YLHZVU�MVY�`V\Y�NHW�PZ�SHJR�VM�WYHJ[PJL�VM�`V\Y�RUV^SLKNL��[OL�HWWYVWYPH[L�PU[LY]LU[PVU�TH`�IL� �
0M�[OL�\UKLYS`PUN�YLHZVU�MVY�`V\Y�NHW�PZ�H�SHJR�VM�YLX\PZP[L�RUV^SLKNL�HUK�ZRPSSZ��HWWS`�MVY�TVYL�[YHPUPUN�HUK�LK\JH[PVU��
*VUZ\S[�`V\Y�WLLYZ��Z\WLY]PZVYZ��TLU[VYZ�VY�/9�JVSSLHN\LZ�VU�[OL�HWWYVWYPH[L�SLHYUPUN�HUK�KL]LSVWTLU[�PU[LY]LU[PVU�Z��MVY�LHJO�JVTWL[LUJ`�NHW�
*VS\TU�( *VS\TU�) *VS\TU�* *VS\TU�+ *VS\TU�, *VS\TU�- *VS\TU�.
*VTWL[LUJ`
*\YYLU[�]Z�[HYNL[LK�
SL]LS
3LHYUPUN0U[LY]LU[PVU�Z�
*V\YZL�VM�HJ[PVU
SLHYUPUN�V\[JVTLZ
JVTWSL[PVU�KH[L
(JOPL]LK&
L�N��,[OPJZ��=HS\LZ�HUK�3LNPZSH[PVU
L�N��-V\UKH[PVUHS��0U[LYTLKPH[L
L�N��;YHPUPUN�HUK�LK\JH[PVU
L�N��([[LUK�VUSPUL�[YHPUPUN�
JV\YZLZ�VU�WVSPJ`�MVYT\SH[PVU
L�N��4HYJO�����
3VUN�[LYT�KL]LSVWTLU[�ULLKZ
*VS\TU�( *VS\TU�) *VS\TU�* *VS\TU�+ *VS\TU�, *VS\TU�- *VS\TU�.
*VTWL[LUJ`
*\YYLU[�]Z�[HYNL[LK�
SL]LS
3LHYUPUN0U[LY]LU[PVU�Z�
*V\YZL�VM�HJ[PVU
SLHYUPUN�V\[JVTLZ
JVTWSL[PVU�KH[L
(JOPL]LK&
L�N��,[OPJZ��=HS\LZ�HUK�3LNPZSH[PVU
L�N��-V\UKH[PVUHS��(K]HUJLK
L�N��;YHPUPUN�HUK�LK\JH[PVU
L�N��;HRL�VU�UL^�WYVQLJ[Z�YLSH[PUN�[V�SLNPZSH[PVU�
KL]LSVWTLU[
L�N��(\N\Z[�����
�@V\�TH`�HKK�VU�TVYL�YV^Z�MVY�HKKP[PVUHS�JVTWL[LUJ`�HZZLZZTLU[Z�HZ�YLX\PYLK�
0TTLKPH[L�KL]LSVWTLU[�ULLKZ
4`�*
HYLLY�+L]LSV
WTLU[
(JJYLKP[H[PVU�MVY�ZVJPHS�^VYRLYZ
;OL�4PUPZ[Y`�VM�:VJPHS�HUK�-HTPS`�+L]LSVWTLU[��5H[PVUHS�*V\UJPS�VM�:VJPHS�:LY]PJL�HUK�:PUNHWVYL�(ZZVJPH[PVU�VM�:VJPHS�>VYRLYZ�OH]L�ZL[�\W�HU�HJJYLKP[H[PVU�Z`Z[LT�[V�LUZ\YL�[OH[�WYVMLZZPVUHS�Z[HUKHYKZ�VM�ZVJPHS�^VYR�WYHJ[PJL�HYL�\WOLSK��HUK�WYVTV[L�JVU[PU\PUN�LK\JH[PVU�HUK�[YHPUPUN��
@V\�JHU�HWWS`�MVY�HJJYLKP[H[PVU�H[�O[[W!��HJJYLKP[H[PVU�ZHZ �̂VYN�ZN��
:PUNHWVYL�(ZZVJPH[PVU�VM�:VJPHS�>VYRLYZ���:(:>�
O[[W!��^^ �̂ZHZ �̂VYN�ZN�ZP[L�
:VJPHS�:LY]PJL�0UZ[P[\[L��::0�
O[[W!��^^ �̂ZVJPHSZLY]PJLPUZ[P[\[L�ZN�
5H[PVUHS�*V\UJPS�VM�:VJPHS�:LY]PJL��5*::�
O[[WZ!��UJZZ�NV]�ZN�
:PUNHWVYL�>VYRMVYJL�+L]LSVWTLU[�(NLUJ`��>+(�
O[[W!��^^ �̂^KH�NV]�ZN�
4PUPZ[Y`�VM�/LHS[O��46/�
O[[WZ!��^^ �̂TVO�NV]�ZN�JVU[LU[�TVOF^LI�OLHS[OWYVMLZZPVUHSZWVY[HS�HSSPLKOLHS[OWYVMLZZPVUHSZ�JHYLLYFWYHJ[PJL�HSSPLKFOLHS[OFWYVMLZZPVUZ�TLKPJHSFZVJPHSF^VYRLY�O[TS
>L�^V\SK�SPRL�[V�[OHUR�HSS�PUKP]PK\HSZ�[OH[�OH]L�NLULYV\ZS`�WHY[PJPWH[LK�PU�MVJ\Z�NYV\W�KPZJ\ZZPVU�ZLZZPVUZ�[V�WYV]PKL�MLLKIHJR�
;OL�KL]LSVWTLU[�VM�[OPZ�N\PKL�OHZ�ILLU�THKL�WVZZPISL�I`�[OL�[PTL�HUK�^VYR�JVU[YPI\[LK�I`�[OL�4PUPZ[Y`�VM�/LHS[O��4PUPZ[Y`�VM�:VJPHS�HUK�-HTPS`�+L]LSVWTLU[��5H[PVUHS�*V\UJPS�VM�:VJPHS�:LY]PJL�HUK�:VJPHS�:LY]PJL�0UZ[P[\[L�