2CTSWG PCEKQPCN FG ;GNNQYUVQPG

'N SDUTXH QDFLRQDO GH

(&0(3"'"

.BQB EFM QBSRVF EF :FMMPXTUPOF

5HOLHYH

'N RCTSWG FG ;GNNQYUVQPG GUV UKVWCFQ UQDTG WPC OGUGVCC WPC CNVKVWF FG O .CU CNVKVWFGU FGN RCTSWG GUVPGPVTG NQU O FGN RKEQ 'CING [ NQU O FGN CTTQ[Q4GGUG .C TGIKP GUV TQFGCFC RQT OCEK\QU OQPVCQUQUSWG RGTVGPGEGP C NCU /QPVCCU 4QEQUCU EW[CU EWODTGUCNECP\CP GPVTG O FG CNVKVWF CN PQTQGUVG NCEQTFKNNGTC )CNNCVKP CN PQTVG NCU OQPVCCU $GCTVQQVJ CNGUVG [ UWTGUVG NC EQTFKNNGTC #DUCTQMC CN UWT NC EQTFKNNGTC6GVQP [ CN QGUVG GN OCEK\Q FG /CFKUQP .C EWODTG OUCNVC FG NC OGUGVC [ FGN RCTSWG FG ;GNNQYUVQPG GU GN OQPVG9CUJDWTP SWG NNGIC C NQU O .C IKICPVGUEC ECNFGTCFG ;GNNQYUVQPG UG GPEWGPVTC GP GN EGPVTQ FGN RCTSWG [ GUV ECUK GPVGTCOGPVG EWDKGTVC RQT TGUVQU XQNEPKEQU RQT NQSWG UW TGNKGXG GU FKHEKNOGPVG QDUGTXCDNG 'P GN RCTSWGGZKUVGP FQU ICTICPVCU ;GNNQYUVQPG 4KXGT %CP[QP [ .GYKU %CP[QP SWG JCP UKFQ GZECXCFCU FGUFG JCEG CQU RQT NQU EWTUQU FG CIWC SWG ETW\CP NC OGUGVC XQNEPKEC

&OLPD

'N ENKOC SWG TGKPC GP ;GNNQYUVQPG GU FG OQPVCC .CUVGORGTCVWTCU [ NCU RTGEKRKVCEKQPGU XCTCP UGPUKDNGOGPVGGP HWPEKP FG NC CNVKVWF [ GN OQOGPVQ FGN FC .QU KPXKGTPQU UQP HTQU GPVTG q% [ q% FG FC G KPHGTKQTGUC q% RQT NC PQEJG=? &WTCPVG GUC VGORQTCFC UQNCOGPVG NC GPVTCFC UGRVGPVTKQPCN EGTEC FG )CTFKPGT GUVCDKGTVC C NQU XGJEWNQU.C VGORGTCVWTC OU DCLC TGIKUVTCFC GU FG q% GP .CU RTGEKRKVCEKQPGU FG PKGXG XCTCP OWEJQ UGIPNCU VGORQTCFCU PKGXC FGN QVQQ C NC RTKOCXGTC EQP WPOZKOQ GP GPGTQ [ NC CNVKVWF 2QT VTOKPQ OGFKQ ECGPGPVTG [ EO FG PKGXG CN CQ EGTEC FGN NCIQ ;G

NNQYUVQPG RGTQ GN ITQUQT FGN OCPVQ CNECP\C GN FQDNG GPNCU EWODTGU FG NCU OQPVCCU EKTEWPFCPVGU.C RTKOCXGTC [ GN QVQQ UG ECTCEVGTK\CP RQT VGORGTCVWTCUKPENWKFCU GPVTG q% [ q% FG FC [ q% C q%FG PQEJG .QU XGTCPQU UQP TGNCVKXCOGPVG ENKFQU IGPGTCNOGPVG GPVTG q% [ q% EQP RKEQU FG q% [ GNVKGORQ RWGFGP ECODKCT TRKFCOGPVG FWTCPVG GN FC EQPNC CRCTKEKP FG VQTOGPVCU RQT NC VCTFG .C OCTEC FG NCVGORGTCVWTC OU ENKFC UG TGIKUVT GP EQP q% .QU VQTPCFQU UQP TCTQU GP GN RCTSWG CWPSWG GN VQTPCFQOU RQVGPVG FGN GUVCFQ FG9[QOKPI UG JC[C RTQFWEKFQ GPGN RCTSWG GN FG LWNKQ FG 'UVG VQTPCFQ UG ENCUKEEQOQ ( UQDTG NC GUECNC FG (WLKVC NQ SWG EQTTGURQPFG CXKGPVQU KPENWKFQU GPVTG MOJ MOs FG DQUSWGFG RKPQU HWGTQP CTTCUCFQU=?

+LGURJUDID

-BT DBTDBEBT EFM SP :FMMPXTUPOF

.C FKXKUQTKC EQPVKPGPVCN FG NCU #OTKECU NPGC FG FKXKUKPFG NCU CIWCU SWG XKGTVGP CN QECPQ 2CEEQ [ NCU SWG NQ JCEGP CN #VNPVKEQ ETW\C ;GNNQYUVQPG HQTOCPFQ WPC FKCIQPCN GP NC RCTVG UWTQGUVG FGN RCTSWG #NTGFGFQT FG WP VGTEKQ FGN RCTSWG UG GPEWGPVTC CN QGUVG FG GUVC NPGC .QU FQURTKPEKRCNGU TQU SWG PCEGP GP GN RCTSWG GN TQ ;GNNQYUVQPG [ GN TQ 5PCMG FKUEWTTGP GP FKTGEEKQPGU QRWGUVCU GNRTKOGTQ FGUGODQEC GP IQNHQ FG /ZKEQ XC TQ /KUWTK[ TQ /KUKUKRK OKGPVTCU SWG GN TQ 5PCMG FGUCIWC GP GNTQ %QNWODKC SWG FGUGODQEC GP GN 2CEEQ .QU EWTUQUFG CIWC FGN RCTSWG UQP CDCUVGEKFQU RTKPEKRCNOGPVG RQT NCHWUKP FGN OCPVQ FG PKGXG GP RTKOCXGTC'N RCTSWG EWGPVC EQP UCNVQU FG CIWC FG OU FG O FG CNVWTC SWG VKGPGP CIWC FWTCPVG VQFQ GN CQ .CU ECFCU OU CNVCU UQP NCU FG .QYGT (CNNU SWG ECGP FGUFG O=? .CU 7RRGT (CNNU UG RTGEKRKVC FGUFG WPC CNVWTC FG OGVTQU7PC DWGPC RCTVG FGN NCIQ ;GNNQYUVQPG UG GPEWGPVTC FGPVTQ FG NC ECNFGTC 5KVWCFQ C O FG CNVKVWF=? GUVG NCIQEQP MOs FG UWRGTEKG GU GN OC[QT NCIQ FG OQPVCC FG 0QTVGCOTKEC .C RTGUGPEKC FG ERWNCU FG TGUWTIKOKGPVQ SWG UG GNGXCP FG HQTOC XCTKCDNG UGIP NQU HGPOGPQU IGQNIKEQU XCTKCEKP FG EO CN CQ KORNKECP

0SHFOFT

OQFKECEKQPGU GP NC EQPIWTCEKP FGN NCIQ EQP \QPCUOU Q OGPQU KPWPFCFCU UGIP NCU FECFCU

*HRORJD

.BQB HFPMHJDP EF :FMMPXTUPOF

,WPVQ C NCU /QPVCCU 4QEQUCU PCEKFQ FGN FGUNK\COKGPVQ FG NC RNCEC VGEVPKEC FGN 2CEEQ DCLQ NC FGN EQPVKPGPVGCOGTKECPQ GN NWICT FG ;GNNQYUVQPG HWG GN VGCVTQ FG GZRNQUKQPGU IKICPVGUECU GPVTGETW\CFCU FG HGPOGPQU VGNTKEQUOU FKUETGVQU .C NVKOC GZRNQUKP QEWTTK JCEG CRTQZKOCFCOGPVG CQU=? .C NCXC CEWOWNCFC FWTCPVGOKNGPKQU DCLQ NC EQTVG\C VGTTGUVTG GUVCNN RTQ[GEVCPFQ OKNGU FG MKNOGVTQU EDKEQU FG TQECU 'N VGEJQ SWG EWDTCNC EOCTC OCIOVKEC UG CRNCUV HQTOCPFQ WP ECLP FGJWPFKOKGPVQ NNCOCFQ ECNFGTC SWG JQ[ EQORQPG NC RCTVGEGPVTCN FGN RCTSWG # RCTVKT FG GPVQPEGU QVTCU GTWREKQPGUOGPQTGU RGTQ ONVKRNGU NNGPCTQP GP RCTVG NC ECNFGTC 5KPGODCTIQ CP UG RWGFGP TGEQPQEGT NQU DQTFGU GUECTRCFQU'N XWNECPKUOQ UKIWG UKGPFQ OW[ CEVKXQ GP ;GNNQYUVQPGFQPFG UG EQPVCDKNK\CP CNTGFGFQT FG IKUGTGU FCPFQRTWGDC FG NC HWGT\C FG NCU CEVKXKFCFGU UWDVGTTPGCU#EVWCNOGPVG ;GNNQYUVQPG TGXKXG WPC HCUG UKOKNCT C NC RTKOGTC GVCRC .C NCXC UKIWG CEWOWNPFQUG KPCPFQ NC EQTVG\C VGTTGUVTG .C CNVKVWF FGN HQPFQ FGN CEVWCN ECLP FGJWPFKOKGPVQ JC CWOGPVCFQ GP EO FWTCPVG GUVQU NVKOQU CQU'N PQODTG l;GNNQYUVQPG| SWG GP GURCQN SWKGTG FGEKTlRKGFTC COCTKNNC| RTQEGFG FGN EQNQT FG NCU TQECU SWG UGRWGFGP XGT GP GN ITCP ECP FG ;GNNQYUVQPG XCNNG GPl8| SWG UG HQTO GP NCU NVKOCU INCEKCEKQPGU OWEJQ CPVGU FG UGT GTQUKQPCFQ RQT GN TQ ;GNNQYUVQPG %QPVTCTKCOGPVG C NQ SWG RWFKGTC RCTGEGT GN EQNQT FG NCU RKGFTCURTQEGFG FG NC CNVGTCEKP JKFTQVTOKEC FGN JKGTTQ SWG EQPVKGPGP [ PQ FGN C\WHTG SWG VCODKP GUV RTGUGPVG ;GNNQYUVQPG UG UKVC GP GN GZVTGOQ PQTVGQTKGPVCN FGN NNCPQFG 5PCMG %NCXCT SWG HQTOC WP CTEQ GP l7| C VTCXU FGNCU /QPVCCU 4QEQUCU 'N NNCPQ UG GZVKGPFG UQDTG MOJCEKC GN QGUVG C RCTVKT FG NC EKWFCF FG $QKUG GP GN 'UVCFQ

FG +FCJQ .C ECNFGTC FG ;GNNQYUVQPG GU GN OC[QT UKUVGOCXQNEPKEQ FG 0QTVGCOTKEC 2GTVGPGEG C NC ECVGIQTC FGlUWRGTXQNECPGU| [C SWG UWU GTWREKQPGU UWRGTCP EQP OWEJQ NCU FG NQU XQNECPGU lENUKEQU|

2UJHQHV

&M FTUBORVF EF .PSOJOH (MPSZ 1PPM

.C HQTOC CTSWGCFC FGN NNCPQ OWGUVTC GN FGURNC\COKGPVQSWG UWHTK NC RNCEC UGRVGPVTKQPCN COGTKECPC FWTCPVG NQU NVKOQU OKNNQPGU FG CQU 'UVC RNCEC VGEVPKEC UG FGURNC\ UQDTG WP RWPVQ ECNKGPVG FGN OCPVQ VGTTGUVTG=? 'PVTGQEJQ Q FKGEKUKU MKNOGVTQU DCLQ NC ECNFGTC FG ;GNNQYUVQPG UG GPEWGPVTCP WPC ECXKFCF NNCOCFC JCDKVCEKP OCIOVKEC SWG EQPVKGPG WPC OCUC FG OCIOC GUGPEKCNOGPVGETKUVCNK\CFC [ DCLQ CNVC RTGUKP 'UVC JCDKVCEKP IKICPVGUEC VKGPG WPC ECRCEKFCF OZKOC FG MOtNQ SWG TGRTGUGPVC WPC OCUC EGTECPC CN VCOCQ FGN OCEK\QFGN /QPV $NCPE7P RWPVQ ECNKGPVG GU EQOQ UW PQODTG KPFKEC WP NWICTFG NC EQTVG\C VGTTGUVTG SWG GUV lOU ECNKGPVG| SWG GN TGUVQ FGN INQDQ 'P GHGEVQ GP NCU RTQHWPFKFCFGU FGN OCPVQ

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

+LVWRULD YROFQLFD

.C GTWREKP OU XKQNGPVC EQPQEKFC QEWTTK JCEG OKNNQPGU FG CQU 'ZRWNU MOt FG OCVGTKCU XQNEPKECU

(&0-0("

6OB WJTUB EFM DSUFS FO FM RVF TF IB GPSNBEP VO MBHP BMSFEFEPSEFM DVBM TF WJTVBMJ[BO MBT DZBOPCBDUFSJBT EF DPMPS SPKJ[P

$PMVNOBUBT CBTMUJDBT DFSDB EF 5PXFS 'BMM QSPEVDJEB QPS VOBDPMBEB EF MBWB B DBVTB EF VOB FOPSNF FSVQDJO WPMDOJDB

ETGCPFQ CN OKUOQ VKGORQ NC HQTOCEKP IGQNIKEC FG *WEMNGDGTT[ 4KFIG 6QDC=?

7PC GTWREKP OGPQU KORQTVCPVG SWG GZRWNU MOt FGOCVGTKCNGU QEWTTK JCEG OKNNP FG CQU FCPFQ NWICT C+UNCPF 2CTM %CNFGTC [ C NC HQTOCEKP IGQNIKEC FG /GUC(CNNU*CEG CNTGFGFQT FG CQU WPC VGTEGTC GTWREKPXQNEPKEC EWDTK FG EGPK\CU XQNEPKECU FG TQECU [ FG QVTQUOCVGTKCNGU GTWRVKXQU MOt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

7PC GTWREKP OGPQT VWXQ NWICT CNN JCEG CQU

4FOEFSPT IFDIPT DPO NBEFSB QFSNJUFO B MPT WJTJUBOUFT BDFSDBSTFB MBT GVFOUFT DBMJFOUFT EF MB (SBO 'VFOUF 1SJTNUJDB

(QTO WPC ECNFGTC OU RGSWGC SWG EQPVKGPG CEVWCNOGPVG NC RCTVG QEEKFGPVCN FGN NCIQ ;GNNQYUVQPG 1VTCU FQUGTWREKQPGU VWXKGTQP CP NWICT C EQPVKPWCEKP .C NVKOCFG GNNCU QEWTTKFC JCEG CQU XQNXK C EGTTCT WPCITCP RCTVG FG NC ECNFGTC EQP UWU WKFQU FG NCXC%CFC WPC FG NCU GTWREKQPGU HQTOC TGCNOGPVG RCTVG FG WPEKENQ EW[Q CRQIGQ EQKPEKFG EQP NC FGUVTWEEKP FGN VGEJQFG NC JCDKVCEKP OCIOVKEC NQ SWG VKGPG RQT EQPUGEWGPEKCGN FTGPCLG FG WPC RCTVG FG UVC 'UQ JC ETGCFQ WP ETVGTNNCOCFQ lECNFGTC| EW[C NCXC UG GUECRC RQT NCU ITKGVCU SWGTQFGCP UVG'N VKGORQ RCUCFQ GPVTG NCU VTGU NVKOCU GTWREKQPGU GU FGNQTFGP FG C CQU #WPSWG NC NVKOC GTWREKP KORQTVCPVG UG RTQFWLQ JCEG CQU PCFC KPFKEC SWG NC RTZKOC UGC KPOKPGPVG=?

7PC UGTKG FG GTWREKQPGU FG DCLC GZRNQUKXKFCF VWXKGTQP NWICT JCEG GPVTG [ CQU [ NNGPCTQP NC ECNFGTCFG ;GNNQYUVQPG FG NCXC EQORWGUVC FG TKQNKVC [ FG DCUCNVQ'UVCU NCXCU UQP XKUKDNGU GP NCU EQNKPCU FG 1DUKFKCP %NKU

TKQNKVC [ FG 5JGGRGCVGTU %NK DCUCNVQ .QU GUVTCVQU FGLCFQU UQP XKUKDNG GP GN )TCP %CP FG ;GNNQYUVQPG CNNFQPFG GN TQ ;GNNQYUVQPG GTQUKQPC NCU CPVKIWCU ECRCU FGNCXC 2CTC VGTOKPCT WPC GTWREKP JKFTQVTOKEC RTQFWLQWP ETVGT FG MO FG FKOGVTQ GP /CT[ $C[ JCEG CNTGFGFQT FG CQU

*HRWHUPLD

.C CEVKXKFCF IGQVTOKEC EQPVTKDW[G C NC HCOC FGN RCTSWG5G EQPVCDKNK\CP CEVWCNOGPVG OU FG IKUGTU [ HWGPVGU ECNKGPVGU SWG UQP GN FGN VQVCN EQPQEKFQ GP GNRNCPGVC 'N IKUGT OU HCOQUQ GU GN0ME 'BJUIGVM (FZTFS GNlXKGLQ IKUGT GN| 'UVG NVKOQ VWXQ GP GHGEVQ NC RCTVKEWNCTKFCF FG GPVTCT GP CEVKXKFCF C KPVGTXCNQU ECUK TGIWNCTGUFG OKPWVQU .CU GTWREKQPGU UQP JQ[OU KTTGIWNCTGU 'NIGPGTCN 'PTKSWG 9CUJDWTP FKQ GN PQODTG FG l1NF (CKVJHWNN| CN IKUGT 5WU CIWCU UWDGP JCUVC WPC CNVWTC EGTECPC CNQU OGVTQU=? 'N RCTSWG CNDGTIC VCODKP GN IKUGT OUITCPFG FGN OWPFQ EW[Q PQODTG 4UFBNCPBU (FZTFS RWGFGVTCFWEKTUG GP lIKUGT DCTEQ FG XCRQT| 'P GUVQU IKUGTGU

7JHJMBODJB Z SJFTHPT BDUVBMFT

1JMBT DBMDSFBT EF .BNNPUI )PU 4QSJOHT :FMMPXTUPOF

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

7HPEORUHV GH WLHUUD

0ME 'BJUIGVM HJTFS RVF FOUSB FO BDUJWJEBE B JOUFSWBMPT SFHVMBSFT

.C CEVKXKFCF UUOKEC GU UGIWKFC FG EGTEC RQT NCU CWVQTKFCFGU FGN RCTSWG FG ;GNNQYUVQPG .QU EKGPVEQU OKFGP RGTOCPGPVGOGPVG NQU OQXKOKGPVQU FG NC OGUGVC SWG UG GNGXC CNTGFGFQT FG EO CN CQ 7P CWOGPVQ TRKFQ FG GUVCXGNQEKFCF FG FGURNC\COKGPVQ RQFTC CPWPEKCT WP RGNKITQITCXG [C SWG UGTC UKPPKOQ FG KPGUVCDKNKFCF FGN OCIOC

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

9LJLODQFLD \ ULHVJRV DFWXDOHV

3P 'JSFIPMF DFSDB EFM HJTFS &YDFMTJPS

'P OC[Q FG GN UGTXKEKQ IGQNIKEQ 0QTVGCOGTKECPQGN RCTSWG PCEKQPCN FG ;GNNQYUVQPG [ NC 7PKXGTUKFCF FG7VCJ ETGCTQP GN QDUGTXCVQTKQ XWNECPQNIKEQ FG ;GNNQYUVQPG ;81 5G VTCVC FG WPC CUQEKCEKP FGUVKPCFC C GUVWFKCT C NCTIQ RNC\Q NQU RTQEGUQU IGQNIKEQU FG NC OGUGVC FGN ;GNNQYUVQPG [ FG FGUEWDTKT NQU TKGUIQU XQNEPKEQURQVGPEKCNGU=?

'P CNIWPQU CEEGUQU FGN 0QTTKU )KUGT GUVWXKGTQPRTQJKDKFQU C TC\ FG NC CRCTKEKP FG PWGXCU HWOCTQNCU [ CNTGETWFGEKOKGPVQ FG NC CEVKXKFCF FG CNIWPQU IKUGTGU .CVGORGTCVWTC FG CNIWPQU IKUGTGU GTC VCP GNGXCFC SWG GNRTQEGUQ FG G[GEEKP FG XCRQTGU GUVCDC RGTVWTDCFQ=?

'UVG CEQPVGEKOKGPVQ EQKPEKFK EQP NC RWDNKECEKP FG WPKPHQTOG FGN UGTXKEKQ IGQNIKEQ COGTKECPQ SWG JCDC FGUEWDKGTVQ NC GNGXCEKP FG WPC ERWNC EGTEC FGN NCIQ ;GNNQYUVQPG 'N KPHQTOG KPFKECDC SWG PQ JCDC TKGUIQ KPOGFKCVQ TGNCVKXQ C NC CRCTKEKP FG WPC PWGXC GTWREKP=?

)*4503*"

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

+LVWRULD

SRFD SUHFRORPELQD

0CTJEJBO $MJ 1BSRVF EF :FMMPXTUPOF

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9DVH WDPELQ

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=? l;GNNQYUVQPG VJG (KTUV 0CVKQPCN 2CTM|

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