Instruction Book ZH 15000 Three-stage, ZH 9000 Three-stage
Copyright Notice Any unauthorized use or copying of the contents or any part thereof is prohibited. This applies in particular to trademarks, model denominations, part numbers and drawings.
Date Printed .................... 23/03/2005
Atlas Copco www.atlascopco.com
6CDNGQHEQPVGPVU
5CHGV[RTGECWVKQPU
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)GPGTCNFGUETKRVKQP
+0641&7%6+10
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'NGMVTQPKMQPTGIWNCVQT
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/CKPVGPCPEG
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4')7.#6+105'66+0)5
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24'5574''37+2/'06&+4'%6+8'5
+PUVTWEVKQPOCPWCN
5CHGV[RTGECWVKQPU
5CHGV[KEQPU
'ZRNCPCVKQP &CPIGTHQTNKHG 9CTPKPI +ORQTVCPVPQVG
5CHGV[RTGECWVKQPUFWTKPIKPUVCNNCVKQP
#NNTGURQPUKDKNKV[HQTCP[FCOCIGQTKPLWT[TGUWNVKPIHTQOPGINGEVKPIVJGUG RTGECWVKQPUQTPQPQDUGTXCPEGQHVJGPQTOCNECWVKQPCPFECTGTGSWKTGFHQT KPUVCNNCVKQPQRGTCVKQPOCKPVGPCPEGCPFTGRCKTGXGPKHPQVGZRTGUUN[ UVCVGFYKNNDGFKUENCKOGFD[VJGOCPWHCEVWTGT )GPGTCNRTGECWVKQPU 6JGQRGTCVQTOWUVGORNQ[UCHGYQTMKPIRTCEVKEGUCPFQDUGTXGCNNTGNCVGFNQECNYQTMUCHGV[ TGSWKTGOGPVUCPFTGIWNCVKQPU +HCP[QHVJGHQNNQYKPIUVCVGOGPVUFQGUPQVEQORN[YKVJNQECNNGIKUNCVKQPVJGUVTKEVGTQHVJGVYQ UJCNNCRRN[ +PUVCNNCVKQPQRGTCVKQPOCKPVGPCPEGCPFTGRCKTYQTMOWUVQPN[DGRGTHQTOGFD[CWVJQTKUGFVTCKPGF URGEKCNKUGFRGTUQPPGN 6JGEQORTGUUQTKUPQVEQPUKFGTGFECRCDNGQHRTQFWEKPICKTQHDTGCVJKPISWCNKV[(QTCKTQHDTGCVJKPI SWCNKV[VJGEQORTGUUGFCKTOWUVDGCFGSWCVGN[RWTKHKGFCEEQTFKPIVQNQECNNGIKUNCVKQPCPF UVCPFCTFU $GHQTGCP[OCKPVGPCPEGTGRCKTYQTMCFLWUVOGPVQTCP[QVJGTPQPTQWVKPGEJGEMUUVQRVJG EQORTGUUQTRTGUUVJGGOGTIGPE[UVQRDWVVQPUYKVEJQHHVJGXQNVCIGCPFFGRTGUUWTKUGVJG EQORTGUUQT+PCFFKVKQPVJGRQYGTKUQNCVKPIUYKVEJOWUVDGQRGPGFCPFNQEMGF 0GXGTRNC[YKVJEQORTGUUGFCKT&QPQVCRRN[VJGCKTVQ[QWTUMKPQTFKTGEVCPCKTUVTGCOCVRGQRNG 0GXGTWUGVJGCKTVQENGCPFKTVHTQO[QWTENQVJGU9JGPWUKPIVJGCKTVQENGCPGSWKROGPVFQUQYKVJ GZVTGOGECWVKQPCPFYGCTG[GRTQVGEVKQP
+PUVTWEVKQPOCPWCN
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u% u(CPFYJKEJOC[DG CEEKFGPVCNN[VQWEJGFD[RGTUQPPGNKPPQTOCNQRGTCVKQPOWUVDGIWCTFGFQTKPUWNCVGF1VJGTJKIJ VGORGTCVWTGRKRGYQTMOWUVDGENGCTN[OCTMGF (QTYCVGTEQQNGFOCEJKPGUVJGEQQNKPIYCVGTU[UVGOKPUVCNNGFQWVUKFGVJGOCEJKPGJCUVQDG RTQVGEVGFD[CUCHGV[FGXKEGYKVJUGVRTGUUWTGCEEQTFKPIVQVJGOCZKOWOEQQNKPIYCVGTKPNGV RTGUUWTG
+PUVTWEVKQPOCPWCN
+HVJGITQWPFKUPQVNGXGNQTECPDGUWDLGEVVQXCTKCDNGKPENKPCVKQPEQPUWNVVJGOCPWHCEVWTGT
#NUQEQPUWNVHQNNQYKPIUCHGV[RTGECWVKQPU5CHGV[RTGECWVKQPUFWTKPIQRGTCVKQPCPF 5CHGV[RTGECWVKQPUFWTKPIOCKPVGPCPEG 6JGUGRTGECWVKQPUCRRN[VQOCEJKPGT[RTQEGUUKPIQTEQPUWOKPICKTQTKPGTVICU 2TQEGUUKPIQHCP[QVJGTICUTGSWKTGUCFFKVKQPCNUCHGV[RTGECWVKQPUV[RKECNVQVJG CRRNKECVKQPYJKEJCTGPQVKPENWFGFJGTGKP 5QOGRTGECWVKQPUCTGIGPGTCNCPFEQXGTUGXGTCNOCEJKPGV[RGUCPFGSWKROGPVJGPEG UQOGUVCVGOGPVUOC[PQVCRRN[VQ[QWTOCEJKPG
5CHGV[RTGECWVKQPUFWTKPIQRGTCVKQP
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
+PUVTWEVKQPOCPWCN
0GXGTQRGTCVGVJGOCEJKPGDGNQYQTKPGZEGUUQHKVUNKOKVTCVKPIU -GGRCNNDQF[YQTMFQQTUUJWVFWTKPIQRGTCVKQP6JGFQQTUOC[DGQRGPGFHQTUJQTVRGTKQFUQPN[ GIVQECTT[QWVTQWVKPGEJGEMU9GCTGCTRTQVGEVQTUYJGPQRGPKPICFQQT 2GQRNGUVC[KPIKPGPXKTQPOGPVUQTTQQOUYJGTGVJGUQWPFRTGUUWTGNGXGNTGCEJGUQTGZEGGFU F$ #UJCNNYGCTGCTRTQVGEVQTU 2GTKQFKECNN[EJGEMVJCV Ő #NNIWCTFUCTGKPRNCEGCPFUGEWTGN[HCUVGPGF Ő #NNJQUGUCPFQTRKRGUKPUKFGVJGOCEJKPGCTGKPIQQFEQPFKVKQPUGEWTGCPFPQVTWDDKPI Ő 6JGTGCTGPQNGCMU Ő #NNHCUVGPGTUCTGVKIJV Ő #NNGNGEVTKECNNGCFUCTGUGEWTGCPFKPIQQFQTFGT Ő 5CHGV[XCNXGUCPFQVJGTRTGUUWTGTGNKGHFGXKEGUCTGPQVQDUVTWEVGFD[FKTVQTRCKPV Ő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
#NUQEQPUWNVHQNNQYKPIUCHGV[RTGECWVKQPU5CHGV[RTGECWVKQPUFWTKPIKPUVCNNCVKQPCPF 5CHGV[RTGECWVKQPUFWTKPIOCKPVGPCPEG 6JGUGRTGECWVKQPUCRRN[VQOCEJKPGT[RTQEGUUKPIQTEQPUWOKPICKTQTKPGTVICU 2TQEGUUKPIQHCP[QVJGTICUTGSWKTGUCFFKVKQPCNUCHGV[RTGECWVKQPUV[RKECNVQVJG CRRNKECVKQPYJKEJCTGPQVKPENWFGFJGTGKP 5QOGRTGECWVKQPUCTGIGPGTCNCPFEQXGTUGXGTCNOCEJKPGV[RGUCPFGSWKROGPVJGPEG UQOGUVCVGOGPVUOC[PQVCRRN[VQ[QWTOCEJKPG
5CHGV[RTGECWVKQPUFWTKPIOCKPVGPCPEGQTTGRCKT
#NNTGURQPUKDKNKV[HQTCP[FCOCIGQTKPLWT[TGUWNVKPIHTQOPGINGEVKPIVJGUG RTGECWVKQPUQTPQPQDUGTXCPEGQHVJGPQTOCNECWVKQPCPFECTGTGSWKTGFHQT KPUVCNNCVKQPQRGTCVKQPOCKPVGPCPEGCPFTGRCKTGXGPKHPQVGZRTGUUN[ UVCVGFYKNNDGFKUENCKOGFD[VJGOCPWHCEVWTGT )GPGTCNRTGECWVKQPU 6JGQRGTCVQTOWUVGORNQ[UCHGYQTMKPIRTCEVKEGUCPFQDUGTXGCNNTGNCVGFNQECNYQTMUCHGV[ TGSWKTGOGPVUCPFTGIWNCVKQPU
+PUVTWEVKQPOCPWCN
+HCP[QHVJGHQNNQYKPIUVCVGOGPVUFQGUPQVEQORN[YKVJNQECNNGIKUNCVKQPVJGUVTKEVGTQHVJGVYQ UJCNNCRRN[ +PUVCNNCVKQPQRGTCVKQPOCKPVGPCPEGCPFTGRCKTYQTMOWUVQPN[DGRGTHQTOGFD[CWVJQTKUGFVTCKPGF URGEKCNKUGFRGTUQPPGN 6JGEQORTGUUQTKUPQVEQPUKFGTGFECRCDNGQHRTQFWEKPICKTQHDTGCVJKPISWCNKV[(QTCKTQHDTGCVJKPI SWCNKV[VJGEQORTGUUGFCKTOWUVDGCFGSWCVGN[RWTKHKGFCEEQTFKPIVQNQECNNGIKUNCVKQPCPF UVCPFCTFU $GHQTGCP[OCKPVGPCPEGTGRCKTYQTMCFLWUVOGPVQTCP[QVJGTPQPTQWVKPGEJGEMUUVQRVJG EQORTGUUQTRTGUUVJGGOGTIGPE[UVQRDWVVQPUYKVEJQHHVJGXQNVCIGCPFFGRTGUUWTKUGVJG EQORTGUUQT+PCFFKVKQPVJGRQYGTKUQNCVKPIUYKVEJOWUVDGQRGPGFCPFNQEMGF 0GXGTRNC[YKVJEQORTGUUGFCKT&QPQVCRRN[VJGCKTVQ[QWTUMKPQTFKTGEVCPCKTUVTGCOCVRGQRNG 0GXGTWUGVJGCKTVQENGCPFKTVHTQO[QWTENQVJGU9JGPWUKPIVJGCKTVQENGCPGSWKROGPVFQUQYKVJ GZVTGOGECWVKQPCPFYGCTG[GRTQVGEVKQP 2TGECWVKQPUFWTKPIOCKPVGPCPEGQTTGRCKT #NYC[UYGCTUCHGV[INCUUGU 7UGQPN[VJGEQTTGEVVQQNUHQTOCKPVGPCPEGCPFTGRCKTYQTM 7UGQPN[IGPWKPGURCTGRCTVU #NNOCKPVGPCPEGYQTMUJCNNQPN[DGWPFGTVCMGPYJGPVJGOCEJKPGJCUEQQNGFFQYP #YCTPKPIUKIPDGCTKPICNGIGPFUWEJCUYQTMKPRTQITGUUFQPQVUVCTVUJCNNDGCVVCEJGFVQVJG UVCTVKPIGSWKROGPV 2GTUQPUUYKVEJKPIQPTGOQVGN[EQPVTQNNGFOCEJKPGUUJCNNVCMGCFGSWCVGRTGECWVKQPUVQGPUWTGVJCV VJGTGKUPQQPGEJGEMKPIQTYQTMKPIQPVJGOCEJKPG6QVJKUGPFCUWKVCDNGPQVKEGUJCNNDGCHHKZGF VQVJGTGOQVGUVCTVGSWKROGPV %NQUGVJGEQORTGUUQTCKTQWVNGVXCNXGDGHQTGEQPPGEVKPIQTFKUEQPPGEVKPICRKRG $GHQTGTGOQXKPICP[RTGUUWTK\GFEQORQPGPVGHHGEVKXGN[KUQNCVGVJGOCEJKPGHTQOCNNUQWTEGUQH RTGUUWTGCPFTGNKGXGVJGGPVKTGU[UVGOQHRTGUUWTG 0GXGTWUGHNCOOCDNGUQNXGPVUQTECTDQPVGVTCEJNQTKFGHQTENGCPKPIRCTVU6CMGUCHGV[RTGECWVKQPU CICKPUVVQZKEXCRQWTUQHENGCPKPINKSWKFU 5ETWRWNQWUN[QDUGTXGENGCPNKPGUUFWTKPIOCKPVGPCPEGCPFTGRCKT-GGRFKTVCYC[D[EQXGTKPIVJG RCTVUCPFGZRQUGFQRGPKPIUYKVJCENGCPENQVJRCRGTQTVCRG 0GXGTYGNFQTRGTHQTOCP[QRGTCVKQPKPXQNXKPIJGCVPGCTVJGQKNU[UVGO1KNVCPMUOWUVDG EQORNGVGN[RWTIGFGID[UVGCOENGCPKPIDGHQTGECTT[KPIQWVUWEJQRGTCVKQPU0GXGTYGNFQPQT KPCP[YC[OQFKH[RTGUUWTGXGUUGNU 9JGPGXGTVJGTGKUCPKPFKECVKQPQTCP[UWURKEKQPVJCVCPKPVGTPCNRCTVQHCOCEJKPGKUQXGTJGCVGF VJGOCEJKPGUJCNNDGUVQRRGFDWVPQKPURGEVKQPEQXGTUUJCNNDGQRGPGFDGHQTGUWHHKEKGPVEQQNKPI VKOGJCUGNCRUGFVJKUVQCXQKFVJGTKUMQHURQPVCPGQWUKIPKVKQPQHVJGQKNXCRQWTYJGPCKTKU CFOKVVGF 0GXGTWUGCNKIJVUQWTEGYKVJQRGPHNCOGHQTKPURGEVKPIVJGKPVGTKQTQHCOCEJKPGRTGUUWTGXGUUGN GVE /CMGUWTGVJCVPQVQQNUNQQUGRCTVUQTTCIUCTGNGHVKPQTQPVJGOCEJKPG #NNTGIWNCVKPICPFUCHGV[FGXKEGUUJCNNDGOCKPVCKPGFYKVJFWGECTGVQGPUWTGVJCVVJG[HWPEVKQP RTQRGTN[6JG[OC[PQVDGRWVQWVQHCEVKQP
+PUVTWEVKQPOCPWCN
$GHQTGENGCTKPIVJGOCEJKPGHQTWUGCHVGTOCKPVGPCPEGQTQXGTJCWNEJGEMVJCVQRGTCVKPIRTGUUWTGU VGORGTCVWTGUCPFVKOGUGVVKPIUCTGEQTTGEV%JGEMVJCVCNNEQPVTQNCPFUJWVFQYPFGXKEGUCTGHKVVGF CPFVJCVVJG[HWPEVKQPEQTTGEVN[+HTGOQXGFEJGEMVJCVVJGEQWRNKPIIWCTFQHVJGEQORTGUUQTFTKXG UJCHVJCUDGGPTGKPUVCNNGF 'XGT[VKOGVJGUGRCTCVQTGNGOGPVKUTGPGYGFGZCOKPGVJGFKUEJCTIGRKRGCPFVJGKPUKFGQHVJGQKN UGRCTCVQTXGUUGNHQTECTDQPFGRQUKVUKHGZEGUUKXGVJGFGRQUKVUUJQWNFDGTGOQXGF 2TQVGEVVJGOQVQTCKTHKNVGTGNGEVTKECNCPFTGIWNCVKPIEQORQPGPVUGVEVQRTGXGPVOQKUVWTGHTQO GPVGTKPIVJGOGIYJGPUVGCOENGCPKPI /CMGUWTGVJCVCNNUQWPFFCORKPIOCVGTKCNGIQPVJGDQF[YQTMCPFKPVJGCKTKPNGVCPFQWVNGV U[UVGOUQHVJGEQORTGUUQTKUKPIQQFEQPFKVKQP+HFCOCIGFTGRNCEGKVD[IGPWKPGOCVGTKCNHTQO VJGOCPWHCEVWTGTVQRTGXGPVVJGUQWPFRTGUUWTGNGXGNHTQOKPETGCUKPI 0GXGTWUGECWUVKEUQNXGPVUYJKEJECPFCOCIGOCVGTKCNUQHVJGCKTPGVGIRQN[ECTDQPCVGDQYNU 6JGHQNNQYKPIUCHGV[RTGECWVKQPUCTGUVTGUUGFYJGPJCPFNKPITGHTKIGTCPV Ő 0GXGTKPJCNGTGHTKIGTCPVXCRQWTU%JGEMVJCVVJGYQTMKPICTGCKUCFGSWCVGN[XGPVKNCVGFKH TGSWKTGFWUGDTGCVJKPIRTQVGEVKQP Ő #NYC[UYGCTURGEKCNINQXGU+PECUGQHTGHTKIGTCPVEQPVCEVYKVJVJGUMKPTKPUGVJGUMKPYKVJ YCVGT+HNKSWKFTGHTKIGTCPVEQPVCEVUVJGUMKPVJTQWIJENQVJKPIPGXGTVGCTQHHQTTGOQXGVJGNCVVGT HNWUJCDWPFCPVN[YKVJHTGUJYCVGTQXGTVJGENQVJKPIWPVKNCNNTGHTKIGTCPVKUHNWUJGFCYC[VJGP UGGMOGFKECNHKTUVCKF 2TQVGEVJCPFUVQCXQKFKPLWT[HTQOJQVOCEJKPGRCTVUGIFWTKPIFTCKPKPIQHQKN
#NUQEQPUWNVHQNNQYKPIUCHGV[RTGECWVKQPU5CHGV[RTGECWVKQPUFWTKPIKPUVCNNCVKQPCPF 5CHGV[RTGECWVKQPUFWTKPIQRGTCVKQP 6JGUGRTGECWVKQPUCRRN[VQOCEJKPGT[RTQEGUUKPIQTEQPUWOKPICKTQTKPGTVICU 2TQEGUUKPIQHCP[QVJGTICUTGSWKTGUCFFKVKQPCNUCHGV[RTGECWVKQPUV[RKECNVQVJG CRRNKECVKQPYJKEJCTGPQVKPENWFGFJGTGKP 5QOGRTGECWVKQPUCTGIGPGTCNCPFEQXGTUGXGTCNOCEJKPGV[RGUCPFGSWKROGPVJGPEG UQOGUVCVGOGPVUOC[PQVCRRN[VQ[QWTOCEJKPG
+PUVTWEVKQPOCPWCN
)GPGTCNFGUETKRVKQP
+PVTQFWEVKQP
&GUETKRVKQP <*EQORTGUUQTUCTGYCVGTEQQNGFEGPVTKHWICNEQORTGUUQTUYJKEJFGNKXGTQKNHTGGRWNUCVKQPHTGGCKT6JG EQORTGUUQTUCTGFTKXGPD[CPGNGEVTKEOQVQT 6JGEQORTGUUQTUCTGCXCKNCDNGGKVJGTHWNN[GPENQUGFKPUQWPFKPUWNCVGFDQF[YQTMQTQPCDCUGHTCOG YKVJQWVDQF[YQTM 6JG<*VJTGGUVCIGEQORTGUUQTKUFGUKIPGFHQTVJGHQNNQYKPIPQOKPCNYQTMKPIRTGUUWTG Ő DCT G RUKI Ő DCT G RUKI Ő DCT G RUKI Ő DCT G RUKI (QTVJTGGUVCIGEQORTGUUQTU 5KZECRCEKVKGUCTGCXCKNCDNGHQTVJGHQNNQYKPIRTGUUWTGXCTKCPVU Ő DCT G RUKI Ő DCT G RUKI Ő DCT G RUKI Ő DCT G RUKI /CKPEQORQPGPVUCPFEQORTGUUQTEQTGEQORQPGPVU %QORTGUUQTOCKPEQORQPGPVU Ő #KTHKNVGTU Ő %QORTGUUQTEQTG Ő $NQYQHHXCNXG Ő &TKXGEQWRNKPI Ő 1KNTGUGTXQKT Ő #WZKNKCT[QKNRWOR Ő 'NGEVTKECNU[UVGO 6JTGGUVCIGEQORTGUUQTEQTGEQORQPGPVU Ő +PNGVIWKFGXCPGU Ő )GCTDQZ Ő (KTUVEQORTGUUQTGNGOGPV Ő (KTUVKPVGTEQQNGT Ő 5GEQPFEQORTGUUQTGNGOGPV Ő 5GEQPFKPVGTEQQNGT
+PUVTWEVKQPOCPWCN
Ő 6JKTFEQORTGUUQTGNGOGPV Ő #HVGTEQQNGT Ő %JGEMXCNXG Ő 1KNEQQNGT Ő /CKPQKNRWOR (TQPVXKGY
<*VJTGGUVCIGYKVJ'NGMVTQPKMQP 4GHGTGPEGUHQT<*VJTGGUVCIG 4GHGTGPEG
0COG
&TKXGOQVQT
#EVWCVQTDNQYQHHXCNXG
$NQYQHHXCNXG
%QWRNKPI
6JKTFEQORTGUUQTGNGOGPV
#KTHKNVGTU
#WZKNKCT[QKNRWOR
%QORTGUUGFCKTQWVNGV
%QQNKPIYCVGTQWVNGV
%QQNKPIYCVGTKPNGV
%QPFGPUCVGFTCKPU
+PUVTWEVKQPOCPWCN
4GHGTGPEG
0COG
%QPFGPUCVGVTCRUGEQPFKPVGTEQQNGT
%JGEMXCNXG
#HVGTEQQNGT
%QPFGPUCVGVTCRCHVGTEQQNGT
1KNTGUGTXQKT
4GCTXKGY
<*VJTGGUVCIG 4GHGTGPEGUHQT<*VJTGGUVCIG
4GHGTGPEG
0COG
#KTHKNVGTU
+PNGVIWKFGXCPGU
#EVWCVQTKPNGVIWKFGXCPGU
(KTUVEQORTGUUQTGNGOGPV
&TKXGOQVQT
&GOKUVGTQKNTGUGTXQKT
1KNTGUGTXQKT
1KNHKNVGT
&WCNQKNHKNVGTUCTGCXCKNCDNGCUCPQRVKQP
6JGTOQUVCVKED[RCUUXCNXG
1KNEQQNGT
+PUVTWEVKQPOCPWCN
4GHGTGPEG
0COG
(KTUVKPVGTEQQNGT
#WZKNKCT[QKNRWOR
%QQNKPIYCVGTKPNGVRKRG
%QQNKPIYCVGTQWVNGVRKRG
5GEQPFEQORTGUUQTGNGOGPV
%QORTGUUQTEQTG
<*VJTGGUVCIG 4GHGTGPEGUHQT<*VJTGGUVCIG 4GHGTGPEG
0COG
$NQYQHHXCNXG
6JKTFEQORTGUUQTGNGOGPV
)GCTECUKPI
1KNRWOR
2QUKVKQPGTKPNGVIWKFGXCPGU
+PNGVIWKFGXCPGU
(KTUVEQORTGUUQTGNGOGPV
+PUVTWEVKQPOCPWCN
4GHGTGPEG
0COG
5GEQPFKPVGTEQQNGT
9CVGTTGIWNCVKPIXCNXGUGEQPFKPVGTEQQNGTEKTEWKV
6JGTOQUVCVKED[RCUUXCNXG
9CVGTTGIWNCVKPIXCNXGHKTUVKPVGTEQQNGTEKTEWKV
(KTUVKPVGTEQQNGT
1KNEQQNGT
/QVQTCWZKNKCT[QKNRWOR
#WZKNKCT[QKNRWOR
%QPFGPUCVGVTCRUGEQPFKPVGTEQQNGT
%QQNKPIYCVGTKPNGV
%QQNKPIYCVGTQWVNGV
#HVGTEQQNGT
9CVGTTGIWNCVKPIXCNXGCHVGTEQQNGTEKTEWKV
%QORTGUUGFCKTQWVNGV
%QPFGPUCVGVTCRHKTUVKPVGTEQQNGT
%QPFGPUCVGVTCRCHVGTEQQNGT
#05+HNCPIGU 6JGHNCPIGUQPVJGCKTRKRGUCPFEQQNKPIYCVGTRKRGUCTGRTQXKFGFYKVJ#05+HNCPIGUKPUVGCFQH&+0 HNCPIGU *QVCKTXGTUKQP 6JGEQORTGUUQTKUFGNKXGTGFYKVJQWVCHVGTEQQNGTHQTJQVCKTFGNKXGT[+PVJKUECUGVJGFKUEJCTIG EQORGPUCVQTKUOCFGQHUVCKPNGUUUVGGNCPFKUFGNKXGTGFNQQUG &WCNQKNHKNVGTU &WCNQKNHKNVGTUCTGFGNKXGTGFUQVJCVVJGQKNHKNVGTECPDGTGRNCEGFFWTKPIQRGTCVKQPYKVJQWVUVQRRKPIVJG EQORTGUUQT 0QKUGKPUWNCVKPIDQF[YQTM %QORTGUUQTUYKVJPQKUGKPUWNCVKPIDQF[YQTMECPOGGVVJGHQNNQYKPIPQKUGNGXGNU Ő F$ #HQT<*VYQUVCIGCPFVJTGGUVCIG #WVQOCVKEYCVGTUJWVQHHXCNXG #PCWVQOCVKEYCVGTUJWVQHHXCNXGKURTQXKFGFNQQUGVQUJWVQHHVJGU[UVGOYJGPVJGEQORTGUUQTKUPQV KPQRGTCVKQP %QQNKPIYCVGTTGXGTUGHNQYXCNXG #EQQNKPIYCVGTTGXGTUGHNQYXCNXGKURTQXKFGFNQQUGHQTTGXGTUKPIVJGYCVGTHNQYVJTQWIJVJG KPVGTEQQNGTCHVGTEQQNGTCPFQKNEQQNGTKPQTFGTVQENGCPVJGEQQNGTUYKVJQWVFKUOCPVNKPIVJGEQQNGT DWPFNGU
+PUVTWEVKQPOCPWCN
'NGEVTQPKEEQPFGPUCVGFTCKPVTCRU 'NGEVTQPKEFTCKPVTCRUCTGRTQXKFGFKPUVGCFQHHNQCVXCNXGEQPFGPUCVGFTCKPVTCRU6JG[KPENWFGVJG GNGEVTQPKEFTCKPRQYGTUWRRN[CPFVJGJKIJNGXGNEQPFGPUCVGFGVGEVKQPKPECUGVJGTGKUFTCKPVTCR OCNHWPEVKQP /QVQTYKPFKPIVGORGTCVWTGRTQVGEVKQP 6GORGTCVWTGRTQDGU 26CTGGODGFFGFKPVJGYKPFKPIUQHVJGFTKXGOQVQT 66C66CCPF 66C6JGRTQVGEVKQPKPENWFGUVJGYKTKPIQHVJGUGPUQTUHTQOVJGCWZKNKCT[VGTOKPCNDQZQHVJGOCKP OQVQTVQVJGEQPVTQNNGT 6GORGTCVWTGTGCFQWVQPFKURNC[KURTQXKFGF#NCTOCPFUJWVFQYPNGXGNUCTGJCPFNGFD[VJGEQPVTQN U[UVGO /QVQTDGCTKPIVGORGTCVWTGRTQVGEVKQP 6GORGTCVWTGRTQDGU 26CTGGODGFFGFKPVJGDGCTKPIUQHVJGFTKXGOQVQT 66CPF666JG RTQVGEVKQPKPENWFGUVJGYKTKPIQHVJGUGPUQTUHTQOVJGCWZKNKCT[VGTOKPCNDQZQHVJGOCKPOQVQTVQVJG EQPVTQNNGT 6GORGTCVWTGTGCFQWVQPFKURNC[KURTQXKFGF#NCTOCPFUJWVFQYPNGXGNUCTGJCPFNGFD[VJGEQPVTQN U[UVGO /QVQTCPVKEQPFGPUCVKQPJGCVGT #PCPVKEQPFGPUCVKQPJGCVGT 4KUOQWPVGFKPUKFGVJGOCKPOQVQTJQWUKPIKPQTFGTVQCXQKF EQPFGPUCVKQPFWTKPIOQVQTUVCPFUVKNN 6JGJGCVGTKPENWFGUVJGCPVKEQPFGPUCVKQPRQYGTUWRRN[CPFKVUEQPVTQN /1&$75KPVGTHCEG #/QFDWUKPVGTHCEGKURTQXKFGFKPQTFGTVQEQOOWPKECVGYKVJGZVGTPCNEQPVTQNU[UVGOU6JGKPVGTHCEG CNNQYUVJGQRGTCVQTVQQRGTCVGVJGEQORTGUUQTTGOQVGN[ UVCTVUVQRTGOQVGRTGUUWTGUGVRQKPVCPF CNNQYUCEEGUUVQQRGTCVKPIRCTCOGVGTXCNWGU RTGUUWTGUVGORGTCVWTGUXKDTCVKQPUő 241(+$75&2KPVGTHCEG #2TQHKDWU&2KPVGTHCEGKURTQXKFGFKPQTFGTVQEQOOWPKECVGYKVJGZVGTPCNEQPVTQNU[UVGOU 6JGKPVGTHCEGCNNQYUVJGQRGTCVQTVQQRGTCVGVJGEQORTGUUQTTGOQVGN[ UVCTVUVQRTGOQVGRTGUUWTGUGV RQKPVCPFCNNQYUCEEGUUVQQRGTCVKPIRCTCOGVGTXCNWGU RTGUUWTGUVGORGTCVWTGUXKDTCVKQPUő /CKPFTKXGOQVQTYKVJUNGGXGDGCTKPIU 6JKUQRVKQPKPENWFGUVJGOQVQTYKVJUNGGXGDGCTKPIUCPFVJGHQTEGFHGGFNWDTKECVKQPHTQOVJGEQORTGUUQT QKNU[UVGO
+PUVTWEVKQPOCPWCN
#KTHNQY
6JTGGUVCIGEQORTGUUQT
<*UKFGXKGY
+PUVTWEVKQPOCPWCN
<*EQORTGUUQTEQTG &GUETKRVKQP #KTFTCYPVJTQWIJHKNVGTU CPFKPNGVIWKFGXCPGU KUEQORTGUUGFKPHKTUVEQORTGUUQTGNGOGPV CPF FKUEJCTIGFVQHKTUVKPVGTEQQNGT 6JGEQQNGFCKTKUHWTVJGTEQORTGUUGFKPUGEQPFEQORTGUUQTGNGOGPV
CPFDNQYPVJTQWIJUGEQPFKPVGTEQQNGT VQYCTFUVJGVJKTFEQORTGUUQTGNGOGPV YJGTGVJGCKTKU EQORTGUUGFVQKVUHKPCNRTGUUWTG6JGEQORTGUUGFCKTNGCXKPIVJGVJKTFEQORTGUUQTGNGOGPVKUEQQNGFKP CHVGTEQQNGT CPFKUDNQYPXKCEJGEMXCNXG VQYCTFUVJGCKTPGV
+PUVTWEVKQPOCPWCN
%QPFGPUCVGFTCKPU[UVGO
6JTGGUVCIGEQORTGUUQT
<*EQORTGUUQTEQTG &GUETKRVKQP 6JTGGOQKUVWTGVTCRUCTGKPUVCNNGFQPGFQYPUVTGCOQHVJGHKTUVKPVGTEQQNGT VQRTGXGPVEQPFGPUCVG HTQOGPVGTKPIVJGUGEQPFEQORTGUUQTGNGOGPVQPGFQYPUVTGCOQHVJGUGEQPFKPVGTEQQNGT VQRTGXGPV EQPFGPUCVGHTQOGPVGTKPIVJGVJKTFEQORTGUUQTGNGOGPVCPFQPGFQYPUVTGCOQHVJGCHVGTEQQNGT VQ RTGXGPVEQPFGPUCVGHTQOGPVGTKPIVJGCKTQWVNGVRKRG'CEJVTCRKURTQXKFGFYKVJCHNQCVXCNXGVQ CWVQOCVKECNN[FTCKPEQPFGPUCVGCPFCOCPWCNFTCKPXCNXG
+PUVTWEVKQPOCPWCN
1KNU[UVGO
1KNTGUGTXQKT
4GUGTXQKT<* %QORTGUUQTEQTG
<*VJTGGUVCIG
+PUVTWEVKQPOCPWCN
1KNFGOKUVGT
1KNHKNVGT
1KNHKNVGT
1RVKQPCNFWCNQKNHKNVGT
+PUVTWEVKQPOCPWCN
/CKPEQORQPGPVU 6JGOCKPEQORQPGPVUQHVJGQKNU[UVGOCTG Ő 1KNTGUGTXQKT Ő 1KNUVTCKPGT Ő 1KNJGCVGT
<*EQORTGUUQTUCTGRTQXKFGFYKVJCPGZVTCJGCVGT Ő 1KNFGOKUVGT Ő /CKPQKNRWOR FTKXGPD[VJGOCKPUJCHV Ő #WZKNKCT[QKNRWOR FTKXGPD[GNGEVTKEOQVQT Ő 'NGEVTKEOQVQT CWZKNKCT[QKNRWOR Ő 1KNEQQNGT Ő 1KNHKNVGT
&WCNQKNHKNVGTU CTGCXCKNCDNGCUCPQRVKQP Ő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
VQOCKPVCKPVJGVGORGTCVWTGQHVJGQKNVQVJGNWDTKECVKPIRQKPVUCUEQPUVCPVCURQUUKDNG $GHQTGUVCTVKPIVJGVGORGTCVWTGQHVJGQKNKPVJGIGCTDQZCPFVJGQKNRTGUUWTGCTGEJGEMGFD[VJG 'NGMVTQPKMQPTGIWNCVQT+HVJGRGTOKUUKXGUVCTVEQPFKVKQPUCTGPQVHWNHKNNGFVJGEQORTGUUQTYKNNPQVUVCTV UGGUGEVKQP$GHQTGUVCTVKPI 1KNHWOGUHTQOVJGQKNTGUGTXQKTCTGUWEMGFKPD[VJGQKNFGOKUVGT CPFHKNVGTGFKPUKFGVJGFGOKUVGT1KN FTQRNGVUCTGFTCKPGFDCEMVQVJGQKNTGUGTXQKT 4GOCTM <*EQORTGUUQTUCTGRTQXKFGFYKVJCPGZVTCQKNJGCVGTKPVJGQKN TGUGTXQKT
+PUVTWEVKQPOCPWCN
%QQNKPIU[UVGO
%QORTGUUQTEQTG
<*VJTGGUVCIG %QQNKPIHQTVJTGGUVCIGEQORTGUUQTU #RKRKPIU[UVGOKURTQXKFGFVQUWRRN[VJGKPVGTEQQNGTU CPFCHVGTEQQNGT CPFQKNEQQNGT YKVJ EQQNKPIYCVGT 6JGHQNNQYKPIHNQYTGIWNCVKPIXCNXGUCTGRTQXKFGF Ő FQYPUVTGCOQHVJGHKTUVKPVGTEQQNGT Ő FQYPUVTGCOQHVJGUGEQPFKPVGTEQQNGT Ő FQYPUVTGCOQHVJGCHVGTEQQNGT
+PUVTWEVKQPOCPWCN
(NQYFKCITCOU
+PUVTWOGPVCPFRKRKPIFKCITCO
&KCITCOHQTVJTGGUVCIGEQORTGUUQTUYKVJ'NGMVTQPKMQP
+PUVTWEVKQPOCPWCN
%QORQPGPVUNKUVHQTVJTGGUVCIGEQORTGUUQTU
4GHGTGPEG
0COG
#KTHKNVGTU
#KTKPNGVUKNGPEGT
,QKPV
C
+PNGVIWKFGXCPGU
G
#EVWCVQTKPNGVIWKFGXCPGU
(NGZKDNGEQWRNKPI
(KTUVEQORTGUUQTGNGOGPV
(NGZKDNGEQWRNKPI
(KTUVKPVGTEQQNGT
C
%QPFGPUCVGVTCRHKTUVKPVGTEQQNGT
D
'NGEVTQPKEEQPFGPUCVGFTCKP QRVKQPCN
(NGZKDNGEQWRNKPI
5GEQPFEQORTGUUQTGNGOGPV
(NGZKDNGEQWRNKPI
5GEQPFKPVGTEQQNGT
C
%QPFGPUCVGVTCRUGEQPFKPVGTEQQNGT
D
'NGEVTQPKEEQPFGPUCVGFTCKP QRVKQPCN
(NGZKDNGEQWRNKPI
6JKTFEQORTGUUQTGNGOGPV
(NGZKDNGEQWRNKPI
#HVGTEQQNGT
C
%QPFGPUCVGVTCRCHVGTEQQNGT
D
'NGEVTQPKEEQPFGPUCVGFTCKP QRVKQPCN
%JGEMXCNXG
CD
%QORGPUCVQT
(NGZKDNGEQWRNKPI
C
$NQYQHHXCNXG
D
#EVWCVQTDNQYQHHXCNXG
5KNGPEGT
%QPFGPUCVGFTCKPTGEGKXGT
/CPWCNEQPFGPUCVGFTCKPXCNXG
0QPTGVWTPXCNXG
%QPFGPUCVGFTCKPTGEGKXGT
/CPWCNEQPFGPUCVGFTCKPXCNXG
0QPTGVWTPXCNXG
%QPFGPUCVGFTCKPTGEGKXGT
/CPWCNEQPFGPUCVGFTCKPXCNXG
1KNTGUGTXQKT
1KNUVTCKPGT
/CKPQKNRWOR
+PUVTWEVKQPOCPWCN
4GHGTGPEG
0COG
&TKXGEQWRNKPIOCKPQKNRWOR
1KNEQQNGT
6JGTOQUVCVKED[RCUUXCNXG
C
1KNHKNVGT
D
&WCNQKNHKNVGT QRVKQPCN
#WZKNKCT[QKNRWOR
/QVQTCWZKNKCT[QKNRWOR
0QPTGVWTPXCNXG
C
1KNFGOKUVGT
D
(CPOQVQTQKNFGOKUVGT
2TGUUWTGEQPVTQNXCNXG
1KNTGUGTXQKTJGCVGT
C
5GEQPFQKNTGUGTXQKTJGCVGT
1KNFTCKPXCNXG
0QPTGVWTPXCNXG
(NGZKDNGEQWRNKPI
4GUVTKEVKQP
/CPWCNN[QRGTCVGFXCNXG
&TKXGOQVQT
&TKXGEQWRNKPI
%QORGPUCVQT
%QORGPUCVQT
%QQNKPIYCVGTHNQYTGXGTUGXCNXG QRVKQPCN
9CVGTUJWVQHHXCNXG QRVKQPCN
9CVGTTGIWNCVKPIXCNXGHKTUVKPVGTEQQNGTEKTEWKV
9CVGTTGIWNCVKPIXCNXGUGEQPFKPVGTEQQNGTEKTEWKV
9CVGTTGIWNCVKPIXCNXGCHVGTEQQNGTEKTEWKV
'NGMVTQPKMQPTGIWNCVQT
6TCPUFWEGTUUGPUQTUVKOGTURQUKVKQPGTUCPFUQNGPQKFXCNXGHQTVJTGGUVCIGEQORTGUUQTU 4GHGTGPEG
0COG
'5**
1XGTNQCFTGNC[FTKXGOQVQT
'5**
1XGTNQCFTGNC[CWZKNKCT[QKNRWOROQVQT
'5**
1XGTNQCFTGNC[QKNFGOKUVGTOQVQT
'5**
1XGTNQCFTGNC[QKNJGCVGT
-5*
#KTHKNVGTNKHGVKOG
-5*
1KNFGOKUVGTNKHGVKOG
-5*
1KNHKNVGTNKHGVKOG
-5*
1KNNKHGVKOG
-5*
&TKXGOQVQTTGITGCUKPIVKOG
.5*.
%QPFGPUCVGFTCKPNGXGNHKTUVKPVGTEQQNGT CWVQOCVKEFTCKPKUQRVKQPCN
+PUVTWEVKQPOCPWCN
4GHGTGPEG
0COG
.5*.
%QPFGPUCVGFTCKPNGXGNUGEQPFKPVGTEQQNGT CWVQOCVKEFTCKPKUQRVKQPCN
.5*.
%QPFGPUCVGFTCKPNGXGNCHVGTEQQNGT CWVQOCVKEFTCKPKUQRVKQPCN
.+
1KNTGUGTXQKTNGXGN KPFKECVQT
.6
1KNTGUGTXQKTNGXGN UYKVEJ
2&6
#KTHKNVGTRTGUUWTGFTQR
2&6
&2GNGOGPVPQ\\NGRTGUUWTG
2&6
&2GNGOGPVRTGUUWTG
2&6
1KNHKNVGTRTGUUWTGFTQR
26
1WVNGVRTGUUWTGVJKTFEQORTGUUQTGNGOGPV
26
&GNKXGT[CKTRTGUUWTG
26
)GCTDQZQKNRTGUUWTG
4
#PVKEQPFGPUCVKQPJGCVGT QRVKQPCN
6
6TCPUHQTOGTFTKXGOQVQT EWUVQOGTUWRRN[
66
#KTKPNGVVGORGTCVWTGUGEQPFEQORTGUUQTGNGOGPV
66
#KTKPNGVVGORGTCVWTGVJKTFEQORTGUUQTGNGOGPV
66
#HVGTEQQNGTQWVNGVVGORGTCVWTG
66
1KNTGUGTXQKTVGORGTCVWTG
66
)GCTDQZQKNUWRRN[VGORGTCVWTG
66
%QQNKPIYCVGTKPNGVVGORGTCVWTG
66
&TKXGOQVQTKPNGVVGORGTCVWTG
66C
/QVQTYKPFKPIVGORGTCVWTG77 66 QRVKQPCN
66C
/QVQTYKPFKPIVGORGTCVWTG88 66 QRVKQPCN
66C
/QVQTYKPFKPIVGORGTCVWTG99 66 QRVKQPCN
66
/QVQTDGCTKPIVGORGTCVWTGFTKXGGPF QRVKQPCN
66
/QVQTDGCTKPIVGORGTCVWTGPQPFTKXGGPF QRVKQPCN
82
8KDTCVKQPHKTUVEQORTGUUQTGNGOGPV
82
8KDTCVKQPUGEQPFEQORTGUUQTGNGOGPV
82
8KDTCVKQPVJKTFEQORTGUUQTGNGOGPV
;
2QUKVKQPGTKPNGVIWKFGXCPGU
;
2QUKVKQPGTDNQYQHHXCNXG
;
5QNGPQKFXCNXGEQQNKPIYCVGTUJWVQHH QRVKQPCN
6GZVQPHKIWTG
4GHGTGPEG
0COG
8GPVKNCVKQPNKPG
&TCKP
#KT
1KN
9CVGT
5KIPCNCKT
+PUVTWEVKQPOCPWCN
4GHGTGPEG
0COG
5KIPCNGNGEVTKECN
1PN[YKVJFWCNQKNHKNVGT QRVKQPCN
(TQOVTCPUFWEGTUVTCPUOKVVGTUCPFUGPUQTU
/QVQTYKPFKPIVGORGTCVWTGRTQVGEVKQP QRVKQPCN
/QVQTDGCTKPIVGORGTCVWTGRTQVGEVKQP QRVKQPCN
1PN[YKVJGNGEVTQPKEFTCKP QRVKQPCN
1PN[YKVJCPVKEQPFGPUCVKQPJGCVGTU QRVKQPCN
#VNCU%QREQKPUVCNNCVKQP
%WUVQOGTʼnUKPUVCNNCVKQP
9CVGTUJWVQHHXCNXG QRVKQPCN
%QQNKPIYCVGTHNQYTGXGTUKPIXCNXG QRVKQPCN
(QTEQORTGUUQTUYKVJQWVUVCTVGTEWTTGPVVTCPUHQTOGT:#5#VQDGUWRRNKGFD[ EWUVQOGT
5NGGXGDGCTKPIUQPN[
(QT<*QPN[
+PUVTWEVKQPOCPWCN
#KTQKNYCVGTHNQYU
(NQYHQTVJTGGUVCIGEQORTGUUQTU
4GHGTGPEG
0COG
#
#KTKPNGV
$
#KT
%
#KTQWVNGV
&
1KN
'
9CVGTKPNGV
(
9CVGT
)
9CVGTQWVNGV
*
%QPFGPUCVG
#KTHKNVGTU
+PUVTWEVKQPOCPWCN
4GHGTGPEG
0COG
#KTKPNGVUKNGPEGT
+PNGVIWKFGXCPGU
(KTUVEQORTGUUQTGNGOGPV
(KTUVKPVGTEQQNGT
5GEQPFEQORTGUUQTGNGOGPV
5GEQPFKPVGTEQQNGT
6JKTFEQORTGUUQTGNGOGPV
#HVGTEQQNGT
%JGEMXCNXG
$NQYQHHXCNXG
5KNGPEGT
1KNFGOKUVGT
1KNTGUGTXQKT
1KNTGUGTXQKTJGCVGT
(QT<*CUGEQPFJGCVGTKURTQXKFGF
1KNUVTCKPGT
/CKPQKNRWOR
#WZKNKCT[QKNRWOR
0QPTGVWTPXCNXG
1KNEQQNGT
6JGTOQUVCVKED[RCUUXCNXG
1KNHKNVGT
2TGUUWTGEQPVTQNXCNXG
'NGEVTKECNU[UVGO
/CKPEQORQPGPVU 6JGU[UVGOOCKPN[KPENWFGU Ő 'NGEVTKEEWDKENG HQTEQORTGUUQTUYKVJ'NGMVTQPKMQPTGIWNCVQT Ő 'NGMVTQPKMQPTGIWNCVQTYKVJEQPVTQNRCPGN HQTEQORTGUUQTUYKVJ'NGMVTQPKMQPTGIWNCVQT Ő 2TGUUWTGVGORGTCVWTGXKDTCVKQPCPFQKNNGXGNUGPUQTU Ő &TKXGOQVQT Ő /QVQTHQTCWZKNKCT[QKNRWOR Ő /QVQTHQTHCPQHQKNFGOKUVGT Ő 1KNJGCVGT Ő 2QUKVKQPGTKPNGVIWKFGXCPGU Ő 2QUKVKQPGTDNQYQHHXCNXG
+PUVTWEVKQPOCPWCN
6JGGNGEVTKEEWDKENGCPFVJGEQPVTQNRCPGNCTGUJQYPKPFGVCKNDGNQY (QTVJGQVJGTEQORQPGPVUUGGUGEVKQPU+PVTQFWEVKQPCPF(NQYFKCITCOU
'NGEVTKEEWDKENGHQTEQORTGUUQTUYKVJ'NGMVTQPKMQP
<*VJTGGUVCIG'NGMVTQPKMQPYKVJQWVUVCTVGT
4GHGTGPEG
0COG
$
%WTTGPVVTCPUOKVVGTFTKXGOQVQTEWTTGPV
$
%WTTGPVVTCPUOKVVGTKPNGVCPFDNQYQHHXCNXGRQUKVKQPGT
(
(WUGEQPVTQNEKTEWKV
(
(WUGEQPVTQNEKTEWKV
(
%KTEWKVDTGCMGTEQPVTQNEKTEWKV
(
%KTEWKVDTGCMGTEQPVTQNEKTEWKV
+PUVTWEVKQPOCPWCN
4GHGTGPEG
0COG
(
%KTEWKVDTGCMGTEQPVTQNEKTEWKV
(
%KTEWKVDTGCMGTEQPVTQNEKTEWKV
(
(WUGVJTGGRJCUGNQYXQNVCIGUWRRN[
(
(WUGVJTGGRJCUGNQYXQNVCIGUWRRN[
(
(WUGVJTGGRJCUGNQYXQNVCIGUWRRN[
(
%KTEWKVDTGCMGTEQPVTQNEKTEWKV
(
1XGTNQCFTGNC[CWZKNKCT[QKNRWOROQVQT/
(
1XGTNQCFTGNC[QKNFGOKUVGTHCPOQVQT/
(
%KTEWKVDTGCMGTEQPVTQNEKTEWKV
(
1XGTNQCFTGNC[QKNJGCVGT4
(C
1XGTNQCFTGNC[QKNJGCVGT4C
(
%KTEWKVDTGCMGTEQPVTQNEKTEWKV
-
#WZKNKCT[TGNC[QKNFGOKUVGT/QXGTNQCF
-
#WZKNKCT[TGNC[NQCFWPNQCF
-
#WZKNKCT[TGNC[OQVQTUVCTVGTEQPVTQN
-
%QPVCEVQTCWZKNKCT[QKNRWOROQVQT/
-
%QPVCEVQTQKNFGOKUVGTHCPOQVQT/
-
%QPVCEVQTQKNJGCVGT4 CPFQKNJGCVGT4CQP<*EQORTGUUQTU
-
6KOGTGNC[YCVGTUJWVQHHFGNC[
6
/CKPVTCPUHQTOGT
6
6TCPUHQTOGT88
7
2QYGTUWRRN[8&%
86
8KDTCVKQPVTCPUOKVVGTEQORTGUUQTGNGOGPV
86
8KDTCVKQPVTCPUOKVVGTEQORTGUUQTGNGOGPV
86
8KDTCVKQPVTCPUOKVVGTEQORTGUUQTGNGOGPV
:
6GTOKPCNUVTKRUWRRN[
:
'CTVJDQNVGCTVJVGTOKPCN
:
6GTOKPCNUVTKR88#%
:
6GTOKPCNUVTKR8#%
:
6GTOKPCNUVTKR8&%
:
6GTOKPCNUVTKRXQNVCIGHTGGEQPVCEVU
+PUVTWEVKQPOCPWCN
%QPVTQNRCPGN
'NGMVTQPKMQPTGIWNCVQT
'NGMVTQPKMQPTGIWNCVQT
(WPEVKQPU +PIGPGTCNVJG'NGMVTQPKMQPTGIWNCVQTJCUHQNNQYKPIHWPEVKQPU (WPEVKQP
4GHGTGPEG
%QPVTQNNKPIVJGECRCEKV[QHVJGEQORTGUUQT
%QPVTQNNKPIVJGEQORTGUUQTECRCEKV[
2TQVGEVKPIVJGEQORTGUUQT
2TQVGEVKPIVJGEQORTGUUQT
/QPKVQTKPIEQORQPGPVUUWDLGEVVQUGTXKEG
/QPKVQTKPIUGTXKEGEQORQPGPVU
%JGEMKPIVJGUVCTVEQPFKVKQPU
%JGEMKPIUVCTVEQPFKVKQPU
%QPVTQNNKPIVJGNWDTKECVKPIQKNU[UVGO
%QPVTQNNKPIVJGNWDTKECVKPIQKNU[UVGO
2TGXGPVKPIUVCTVEQOOCPFUFWTKPIOKPKOWOUVQR 5VCTVEQOOCPFUFWTKPIOKPKOWOUVQRVKOG VKOG
'PCDNKPICWVQOCVKETGUVCTVCHVGTXQNVCIGHCKNWTG
#WVQOCVKETGUVCTVCHVGTXQNVCIGHCKNWTG
2TQXKFKPIGZVGTPCNEQORTGUUQTUVCVWUKPFKECVKQP EQPVCEVU
'ZVGTPCNEQORTGUUQTUVCVWUKPFKECVKQP
2TQXKFKPIC$75EQPPGEVKQPU[UVGO
$75EQPPGEVKQPU[UVGO
%QPVTQNNKPIVJGEQORTGUUQTECRCEKV[
/CKPEQORQPGPVU 6JGU[UVGOKPENWFGU Ő 'NGMVTQPKMQPTGIWNCVQT 'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU Ő +PNGVIWKFGXCPGU
+PUVTWEVKQPOCPWCN
Ő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Ő 6JGRQUKVKQPQHVJGKPNGVIWKFGXCPGU HTQOQRGPVQCOKPKOWOQRGPRQUKVKQP Ő 6JGRQUKVKQPQHVJGDNQYQHHXCNXG HTQOENQUGFVQCOKPKOWOENQUGFRQUKVKQP 6JGCKTFGNKXGT[YKNNDGOCVEJGFVQVJGCKTEQPUWORVKQPYJKNGVJGPGVRTGUUWTGKUOCKPVCKPGFCUENQUGCU RQUUKDNGVQVJGRTQITCOOGFRTGUUWTGUGVRQKPV 6JGTGIWNCVQTVCMGUKPVQCEEQWPVCPWODGTQHRTQITCOOCDNGUGVVKPIUUWEJCUVJGOKPKOWOUVQRVKOG CPFOCZKOWOPWODGTQHOQVQTUVCTVU +HVJGPGVRTGUUWTGUJQWNFTKUGVQCRTQITCOOGFRTGUUWTGVJGEQORTGUUQTYKNNDGUYKVEJGFVQEQORNGVGN[ WPNQCFGFTWPPKPI +FNKPIVKOG 6JKUHWPEVKQPKUFGCEVKXCVGFGZHCEVQT[+HVJGUGVVKPIKUOQFKHKGF DGVYGGPCPFOKPWVGUVJG EQORTGUUQTYKNNDGUVQRRGFCHVGTTWPPKPIEQORNGVGN[WPNQCFGFHQTVJGRTQITCOOGFVKOG KFNKPIVKOG 6JGEQORTGUUQTYKNNCWVQOCVKECNN[TGUVCTVYJGPVJGRTGUUWTGFGETGCUGUVQVJGNQCFKPIRTGUUWTG5GGCNUQ UGEVKQP4GIWNCVKQPUGVVKPIU
+PUVTWEVKQPOCPWCN
2TQVGEVKPIVJGEQORTGUUQT
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
/QPKVQTKPIUGTXKEGEQORQPGPVU
&GUETKRVKQP 6JG'NGMVTQPKMQPTGIWNCVQTEQPVKPWQWUN[OQPKVQTUETKVKECNEQORQPGPVUUWDLGEVVQUGTXKEG Ő /QVQTITGCUG Ő 1KN Ő 1KNHKNVGT Ő 1KNFGOKUVGT Ő %QQNGTU Ő #KTHKNVGTU 'CEJKPRWVKUEQORCTGFVQVJGRTQITCOOGFNKOKVU'ZEGGFKPIVJGUGNKOKVUECWUGUCOGUUCIGQPVJG EQPVTQNFKURNC[YCTPKPIVJGQRGTCVQT
+PUVTWEVKQPOCPWCN
+PVJGGXGPVQHCUGTXKEGYCTPKPI HQT'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU 5VQRVJGEQORTGUUQTTGRNCEGVJGKPFKECVGFEQORQPGPVQTVCMGVJGPGEGUUCT[UGTXKEGCEVKQP4GUGVVJG UGTXKEGVKOGT5GGUGEVKQP5GTXKEGOGPW 9CTPKPI $GHQTGUVCTVKPICP[OCKPVGPCPEGQTTGRCKTUVQRVJGEQORTGUUQTUYKVEJQHHVJG XQNVCIGCPFFGRTGUUWTK\GVJGEQORTGUUQT#RRN[CNNTGNGXCPVKPUVTWEVKQPUKPUGEVKQP 5CHGV[RTGECWVKQPU
%JGEMKPIUVCTVEQPFKVKQPU
&GUETKRVKQP $GHQTGUVCTVKPIVJGRTQITCOOGFRGTOKUUKXGUVCTVEQPFKVKQPU UWEJCUVJGOKPKOWOVGORGTCVWTGQHVJG QKNKPVJGIGCTDQZCPFOKPKOWOQKNRTGUUWTGCTGEJGEMGF+HVJGUGEQPFKVKQPUCTGPQVHWNHKNNGFVJG EQORTGUUQTYKNNPQVUVCTV5GGUGEVKQP$GHQTGUVCTVKPI
%QPVTQNNKPIVJGNWDTKECVKPIQKNU[UVGO
1KNJGCVGT
1KNJGCVGTUHQT<*
+PUVTWEVKQPOCPWCN
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#EVKQP
6JGOGUUCIGŋ5JWVFQYP9CTPKPIŌCRRGCTU
2TGUUMG[ŋ/GPWŌ (CPFVCDWNCVQTMG[ VQUGNGEVVJG5VCVWUFCVCOGPWVJG QRVKQPŋ2TQVGEVKQPŌKUHNCUJKPI
5ETQNNVQVJKUQRVKQPCPFUGNGEVKVD[RTGUUKPIVCDWNCVQTMG[ QRVKQPŋ9CTPKPIUŌ HNCUJGUUETQNNVQVJKUQRVKQPCPFUGNGEVKVD[RTGUUKPIVCDWNCVQTMG[ #UETGGP UKOKNCTVQVJGQPGDGNQYCRRGCTU
ŋ)GCTDQZ1KNŌ
DCT
ŋ5JWVF9CTPŌ
ŋ/KPKOWOŌ
ŋ/GPWŌ (
DCT
(
(
+PUVTWEVKQPOCPWCN
6JGUETGGPKPFKECVGUVJCVVJGIGCTDQZQKNRTGUUWTGJCUFTQRRGFDGNQYVJGRTQITCOOGFUJWVFQYP YCTPKPINGXGN 5VGR
#EVKQP
6JGYCTPKPIOGUUCIGYKNNFKUCRRGCTCWVQOCVKECNN[CUUQQPCUVJGYCTPKPIEQPFKVKQP FKUCRRGCTU
4GOGF[VJGVTQWDNG
9CTPKPI $GHQTGUVCTVKPICP[OCKPVGPCPEGQTTGRCKTURTGUUUVQRDWVVQP YCKVWPVKNVJG EQORTGUUQTJCUUVQRRGFRTGUUGOGTIGPE[UVQRDWVVQP CPFQRGPVJGKUQNCVKPI UYKVEJ EWUVQOGTʼnUKPUVCNNCVKQPVQUYKVEJQHHVJGXQNVCIGVQVJGEQORTGUUQT %NQUGVJGCKTQWVNGVXCNXGCPFFGRTGUUWTKUGVJGCKTU[UVGO #UGTXKEGYCTPKPIOGUUCIGGZKUVU 5VGR
#EVKQP
.'& KUNKVCPFVJG/CKPUETGGPYKNNEJCPIGKPVQCUETGGPUKOKNCTVQVJGQPGDGNQY
/CKPUETGGP<*VJTGGUVCIG ŋ%QORTGUUQT1WVNGVŌ
DCT
ŋ+)81RGPŌ
ŋ$18%NQUGFŌ
ŋ5GTXKEG4GSWKTGFŌ
ŋ/GPWŌ
(
(
(
5VGR
#EVKQP
6JGKPFKECVQTU HNCUJCPFVJGUGTXKEGYCTPKPIOGUUCIGCRRGCTU
2TGUUMG[ŋ/GPWŌ (CPFVCDWNCVQTMG[ VQUGNGEVVJG5VCVWUFCVCOGPWVJG QRVKQPŋ5GTXKEGŌKUHNCUJKPI
5ETQNNVQVJKUQRVKQPCPFUGNGEVKVD[RTGUUKPIVCDWNCVQTMG[ VYQQRVKQPUOC[ HNCUJ Ő ŋ+PRWVUŌKHVJGRTQITCOOGFUGTXKEGNGXGNQHCEQORQPGPVKUGZEGGFGF GIVJG OCZKOWORTGUUWTGFTQRQHVJGCKTHKNVGT Ő ŋ2NCPŌKHCUGTXKEGRNCPKPVGTXCNKUGZEGGFGF
5VQRVJGEQORTGUUQTCPFUYKVEJQHHVJGXQNVCIG
+HVJGUGTXKEGOGUUCIGYCUTGHGTTKPIVQŋ+PRWVUŌ CKTHKNVGTTGRNCEGVJGHKNVGTUYKVEJ QPVJGXQNVCIGUETQNNKPVJG5VCVWUFCVCOGPWVQŋ+PRWVUŌCPFRTGUUŋ4GUGVŌMG[
(VQTGUGVVJGUGTXKEGOGUUCIG
+HVJGUGTXKEGOGUUCIGYCUTGHGTTKPIVQŋ2NCPŌECTT[QWVVJGUGTXKEGCEVKQPUTGNCVGF VQVJGKPFKECVGFRNCPU4GUGVVJGVKOGTUQHVJGTGNCVGFRNCPUCUFGUETKDGFKPUGEVKQP 5GTXKEGOGPW
+PUVTWEVKQPOCPWCN
/GCUWTGFFCVCOGPW
(WPEVKQP 6QECNNWRKPHQTOCVKQPTGICTFKPIVJGCEVWCNN[OGCUWTGFFCVCCPFVJGUVCVWUQHCPWODGTQHKPRWVUUWEJ CUVJGOQVQTQXGTNQCFRTQVGEVKQP5GGOGPWHNQYKPUGEVKQP/GPWFTKXGPEQPVTQNRTQITCOU %QPVTQNRCPGN
/CKPUETGGP /CKPUETGGP<*VJTGGUVCIG ŋ%QORTGUUQT1WVNGVŌ ŋ+)81RGPŌ
DCT ŋ$18%NQUGFŌ
ŋ#WVQOCVKECNN[.QCFGFŌ ŋ/GPWŌ
ŋ7PNQCFŌ
(
(
(
2TQEGFWTG 5VGR
#EVKQP
5VCTVKPIHTQOVJG/CKPUETGGP Ő RTGUUMG[ŋ/GPWŌ ( Ő RTGUUCTTQYFQYPMG[ WPVKNVJGQRVKQPŋ/GCUWTGF&CVCŌKUHQNNQYGFD[C JQTK\QPVCNCTTQY Ő CEVKXCVGVJGOGPWD[RTGUUKPIVCDWNCVQTMG[ CUETGGPUKOKNCTVQVJGQPG DGNQYCRRGCTU
ŋ)GCTDQZ1KNŌ
DCT
ŋ&R#KT(KNVGTŌ
DCT
ŋ&R1KN(KNVGTŌ
DCT
ŋ/GPWŌ
ŋ'ZVTCŌ
(
(
(
+PUVTWEVKQPOCPWCN
5VGR
#EVKQP
$[RTGUUKPICTTQYFQYPMG[ CPWODGTQHCEVWCNN[OGCUWTGFFCVCECPDGHQWPF
UGGOGPWHNQYKPUGEVKQP/GPWFTKXGPEQPVTQNRTQITCOU
+HQPGQHVJGUGPUQTUKUNKPMGFVQCUJWVFQYPUGTXKEGQTYCTPKPIHWPEVKQPDQVJVJG CEVWCNN[OGCUWTGFXCNWGCUYGNNCUVJGEQTTGURQPFKPIUJWVFQYPYCTPKPIQTUGTXKEG NGXGNECPDGECNNGFWRD[RTGUUKPIVCDWNCVQTMG[
%QWPVGTUOGPW
(WPEVKQP 6QCNNQYVJGQRGTCVQTVQECNNWRVJG Ő TWPPKPIJQWTU Ő NQCFGFJQWTU Ő PWODGTQHOQVQTUVCTVU Ő TGIWNCVQT OQFWNGJQWTU VJGJQWTUVJGOQFWNGJCUDGGPWPFGTVGPUKQP %QPVTQNRCPGN
/CKPUETGGP /CKPUETGGP<*VJTGGUVCIG ŋ%QORTGUUQT1WVNGVŌ ŋ+)81RGPŌ
DCT ŋ$18%NQUGFŌ
ŋ#WVQOCVKECNN[.QCFGFŌ ŋ/GPWŌ (
ŋ7PNQCFŌ (
(
+PUVTWEVKQPOCPWCN
2TQEGFWTG 5VGR
#EVKQP
5VCTVKPIHTQOVJG/CKPUETGGP Ő RTGUUMG[ŋ/GPWŌ ( Ő RTGUUCTTQYFQYPMG[ WPVKNVJGQRVKQPŋ%QWPVGTUŌKUHQNNQYGFD[CJQTK\QPVCN CTTQY Ő CEVKXCVGVJGOGPWD[RTGUUKPIVCDWNCVQTMG[ CUETGGPUKOKNCTVQVJGQPG DGNQYCRRGCTU
ŋ4WPPKPI*QWTUŌ
JTU
ŋ.QCFGF*QWTUŌ
JTU
ŋ/QVQT5VCTVUŌ
ŋ/GPWŌ
ŋ%JCPIGŌ
(
(
(
6JGFKURNC[KPFKECVGUVJCV Ő VJGEQORTGUUQTJCUDGGPKPTWPPKPIEQPFKVKQPHQTJQWTU Ő VJGEQORTGUUQTJCUDGGPKPNQCFGFEQPFKVKQPHQTJQWTU Ő VJGTGJCXGDGGPOQVQTUVCTVU 5VGR
#EVKQP
$[RTGUUKPICTTQYFQYPMG[ VJGKVGOŋ/QFWNG*QWTUŌECPDGHQWPF UGGOGPW HNQYKPUGEVKQP/GPWFTKXGPEQPVTQNRTQITCOU
6GUVOGPW
(WPEVKQP 6QECTT[QWVCFKURNC[VGUVKGVQEJGEMYJGVJGTVJGFKURNC[CPF.'&UCTGUVKNNKPVCEV %QPVTQNRCPGN
+PUVTWEVKQPOCPWCN
/CKPUETGGP /CKPUETGGP<*VJTGGUVCIG ŋ%QORTGUUQT1WVNGVŌ ŋ+)81RGPŌ
DCT ŋ$18%NQUGFŌ
ŋ#WVQOCVKECNN[.QCFGFŌ ŋ/GPWŌ
ŋ7PNQCFŌ
(
(
(
2TQEGFWTG 5VGR
#EVKQP
5VCTVKPIHTQOVJG/CKPUETGGP Ő RTGUUMG[ŋ/GPWŌ ( Ő RTGUUCTTQYFQYPMG[ WPVKNVJGQRVKQPŋ6GUVŌKUHQNNQYGFD[CJQTK\QPVCN CTTQY Ő CEVKXCVGVJGOGPWD[RTGUUKPIVCDWNCVQTMG[
6JGQRVKQPŋ&KURNC[6GUVŌYKNNDGHQNNQYGFD[CJQTK\QPVCNCTTQY
#HVGTRTGUUKPIVCDWNCVQTMG[ VJGTGIWNCVQTYKNNIGPGTCVGCUGTKGUQHRCVVGTPUQP VJGFKURNC[YJKEJGPCDNGVJGQRGTCVQTVQEJGEMVJCVGCEJRKZGNUVKNNHWPEVKQPU PQTOCNN[CVVJGUCOGVKOGVJG.'&UCTGNKV
/QFKH[RCTCOGVGTUOGPW
(WPEVKQP 6JGOGPWCNNQYUVJGQRGTCVQTVQRTQITCO Ő 2CTCOGVGTU UGGUGEVKQP/QFKH[KPIRCTCOGVGTU Ő 2TQVGEVKQPU UGGUGEVKQP/QFKH[KPIRTQVGEVKQPU Ő 5GTXKEG2NCPUGVVKPIU UGGUGEVKQP/QFKH[KPIUGTXKEGRNCPU Ő %NQEM(WPEVKQPUGVVKPIU UGGUGEVKQP2TQITCOOKPIENQEMHWPEVKQP Ő %QPHKIWTCVKQPUGVVKPIU UGGUGEVKQP/QFKH[KPIEQPHKIWTCVKQPUGVVKPIU
/QFKH[KPIRCTCOGVGTU
(WPEVKQP 6QOQFKH[CPWODGTQHUGVVKPIUCUOGPVKQPGFKPVJGOGPWHNQYQHUGEVKQP/GPWFTKXGPEQPVTQN RTQITCOU
+PUVTWEVKQPOCPWCN
%QPVTQNRCPGN
/CKPUETGGP /CKPUETGGP<*VJTGGUVCIG ŋ%QORTGUUQT1WVNGVŌ ŋ+)81RGPŌ
DCT ŋ$18%NQUGFŌ
ŋ#WVQOCVKECNN[.QCFGFŌ ŋ/GPWŌ
ŋ7PNQCFŌ
(
(
(
2TQEGFWTG 5VGR
#EVKQP
5VCTVKPIHTQOVJG/CKPUETGGP Ő RTGUUMG[ŋ/GPWŌ ( Ő RTGUUCTTQYFQYPMG[ WPVKNVJGQRVKQPŋ/QFKH[2CTCOGVGTUŌKUHQNNQYGFD[C JQTK\QPVCNCTTQY Ő CEVKXCVGVJGOGPWD[RTGUUKPIVCDWNCVQTMG[
6JGHKTUVQRVKQPŋ2CTCOGVGTUŌYKNNDGHQNNQYGFD[CJQTK\QPVCNCTTQY
2TGUUVCDWNCVQTMG[ 6JGHKTUVKVGOŋ2TGUUWTG5GVRQKPVŌCPFKVUUGVVKPIYKNN CRRGCT
ŋ2TGUUWTG5GVRQKPVŌ
DCT
ŋ.QCF.GXGN1HHUGVŌ
DCT
ŋ7PNQCF.GXGN1HHUGVŌ
DCT
ŋ/GPWŌ
ŋ/QFKH[Ō
(
(
(
5VGR
#EVKQP
7UGCTTQYFQYPMG[ VQUETQNNWPVKNVJGRCTCOGVGTVQDGOQFKHKGFKUHQNNQYGFD[ VJGGPFOCTMGT UGGHKTUVNKPGQPVJGUETGGPCDQXG
+PUVTWEVKQPOCPWCN
/QFKH[KPIVJGRTGUUWTGUGVRQKPV
(WPEVKQP +HFGUKTGFVJGQRGTCVQTECPRTQITCOVYQRTGUUWTGUGVVKPIU ŋ2TGUUWTGUGVRQKPVŌŋ.QCFNGXGN1HHUGVŌ ŋ7PNQCF.GXGN1HHUGVŌŋ2TGUUWTGUGVRQKPVŌŋ.QCFNGXGN1HHUGVŌCPFŋ7PNQCF.GXGN1HHUGVŌ %QPVTQNRCPGN
2TQEGFWTG 5VGR
#EVKQP
%QPUWNVVJGUVGRUKPUGEVKQP/QFKH[KPIRCTCOGVGTUVQUGNGEVŋ2TGUUWTG5GVRQKPVŌ 6JGHQNNQYKPIUETGGPCRRGCTU
ŋ2TGUUWTG5GVRQKPVŌ
DCT
ŋ.QCF.GXGN1HHUGVŌ
DCT
ŋ7PNQCF.GXGN1HHUGVŌ
DCT
ŋ/GPWŌ
ŋ/QFKH[Ō
(
(
(
5VGR
#EVKQP
6JGUETGGPUJQYUVJCVVJGEWTTGPVUGVVKPIKUDCT G6QOQFKH[VJKUUGVVKPI RTGUUMG[ŋ/QFKH[Ō (VJGUGVVKPIYKNNHNCUJ
7UGCTTQYWRQTFQYPMG[ VQEJCPIGVJGXCNWG6JGŋ.KOKVUŌ (MG[ECPDG WUGFVQHKPFQWVVJGNKOKVUHQTVJGRCTCOGVGT
2TGUUMG[ŋ2TQITCOŌ (VQRTQITCOVJGPGYUGVVKPIQTMG[ŋ%CPEGNŌ (VQECPEGN VJGOQFKHKECVKQPQRGTCVKQP VJGQTKIKPCNXCNWGYKNNDGTGVCKPGF
+HTGSWKTGFVJGRTQEGFWTGVQOQFKH[ŋ.QCF.GXGN1HHUGVŌQTŋ7PNQCF.GXGN1HHUGVŌ KUUKOKNCTVQVJGFGUETKRVKQPCDQXG
0QVG 6JGTGIWNCVQTYKNNPQVCEEGRVPGYXCNWGUDG[QPFVJGNKOKVU
+PUVTWEVKQPOCPWCN
/QFKH[KPIRTQVGEVKQPU
(WPEVKQP
6QOQFKH[RTQVGEVKQPUGVVKPIU Ő UJWVFQYP ŋ5JWVFQYPŌGIHQTGNGOGPVQWVNGVVGORGTCVWTG Ő UJWVFQYPYCTPKPI ŋ5JWVFQYP9CTPKPIŌGIHQTGNGOGPVQWVNGVVGORGTCVWTG Ő YCTPKPI ŋ2GTOKUUKXG5VCTV6KOGŌGIIGCTDQZQKNRTGUUWTG Ő UGTXKEGYCTPKPI ŋ5GTXKEG4GSWKTGFŌGI&RQHCKTHKNVGT OCZRTGUUWTGFTQR
6QEJGEMXCTKQWUEQORTGUUQTEQPFKVKQPUGIVJGUVCVWUQHVJGGOGTIGPE[UVQR DWVVQP6JGNKUVQHRCTCOGVGTUKUUJQYPKPVJGOGPWHNQYQHUGEVKQP/GPWFTKXGP EQPVTQNRTQITCOU
0QVG 5QOGRCTCOGVGTUECPPQVDGOQFKHKGF
%QPVTQNRCPGN
/CKPUETGGP /CKPUETGGP<*VJTGGUVCIG ŋ%QORTGUUQT1WVNGVŌ ŋ+)81RGPŌ
DCT ŋ$18%NQUGFŌ
ŋ#WVQOCVKECNN[.QCFGFŌ ŋ/GPWŌ (
ŋ7PNQCFŌ (
(
+PUVTWEVKQPOCPWCN
2TQEGFWTG 5VGR
#EVKQP
5VCTVKPIHTQOVJG/CKPUETGGP Ő RTGUUMG[ŋ/GPWŌ ( Ő RTGUUCTTQYFQYPMG[ WPVKNVJGQRVKQPŋ/QFKH[2CTCOGVGTUŌKUHQNNQYGFD[C JQTK\QPVCNCTTQY Ő CEVKXCVGVJGOGPWD[RTGUUKPIVCDWNCVQTMG[
7UGCTTQYFQYPMG[ VQUETQNNWPVKNVJGQRVKQPŋ2TQVGEVKQPUŌKUHQNNQYGFD[C JQTK\QPVCNCTTQY
2TGUUVCDWNCVQTMG[ VJGHKTUVKVGO GIŋ)GCTDQZ1KNŌCPFKVUXCNWGYKNNCRRGCT
7UGCTTQYFQYPMG[ VQUETQNNWPVKNVJGRCTCOGVGTVQDGOQFKHKGFKUHQNNQYGFD[C JQTK\QPVCNCTTQYCPFRTGUUVCDWNCVQTMG[
/QFKH[KPIUJWVFQYPYCTPKPIUGVVKPIUHQTVJGIGCTDQZQKN RTGUUWTG
%QPVTQNRCPGN
2TQEGFWTG 5VGR
#EVKQP
%QPUWNVVJGUVGRUKPUGEVKQP/QFKH[KPIRTQVGEVKQPUVQUGNGEVVJGRCTCOGVGTŋ)GCTDQZ 1KNŌ6JGHQNNQYKPIUETGGPCRRGCTU
ŋ)GCTDQZ1KNŌ
DCT
ŋ5JWVFQYPŌ
ŋ/KPKOWOŌ
ŋ$CEMŌ
ŋ/QFKH[Ō
(
(
DCT (
+PUVTWEVKQPOCPWCN
5VGR
#EVKQP
6JGUETGGPUJQYUVJCVVJGRTGUUWTGKUDCTCPFVJCVVJGUJWVFQYPUGVVKPIKU DCT6QOQFKH[VJKUUGVVKPIRTGUUMG[ŋ/QFKH[Ō (6JGHQNNQYKPIUETGGPCRRGCTU
ŋ)GCTDQZ1KNŌ
DCT
ŋ5JWVFQYPŌ
ŋ/KPKOWOŌ
DCT
ŋ2TQITCOŌ
ŋ.KOKVUŌ
ŋ%CPEGNŌ
(
(
(
5VGR
#EVKQP
7UGCTTQYWRQTFQYPMG[ VQEJCPIGVJGXCNWG6JGŋ.KOKVUŌ (MG[ECPDG WUGFVQHKPFQWVVJGNKOKVUHQTVJGRCTCOGVGT
2TGUUMG[ŋ2TQITCOŌ (VQRTQITCOVJGPGYUGVVKPIQTMG[ŋ%CPEGNŌ (VQECPEGN VJGOQFKHKECVKQPQRGTCVKQP
6JGUETGGPUJQYPKPUVGRUJQYUCPCTTQYRQKPVKPIVQVJGTKIJVVQECNNWRVJG UETGGPVQOQFKH[VJGUJWVFQYPYCTPKPIXCNWG2TGUUVCDWNCVQTMG[ 6JG HQNNQYKPIUETGGPCRRGCTU
ŋ)GCTDQZ1KNŌ
DCT
ŋ5JWVF9CTPŌ
ŋ/KPKOWOŌ
ŋ$CEMŌ
ŋ/QFKH[Ō
(
(
DCT (
5VGR
#EVKQP
6JGUETGGPUJQYUVJCVVJGEWTTGPVRTGUUWTGKUDCTCPFVJCVVJGUJWVFQYP YCTPKPIUGVVKPIKUDCT6JGOQFKH[KPIRTQEGFWTGKUUKOKNCTVQVJGFGUETKRVKQP CDQXG
0QVG 6JGOQFKH[KPIRTQEGFWTGHQTQVJGTUGVVKPIUKUUKOKNCT(QTUQOGUGVVKPIUCFGNC[ECP DGRTQITCOOGF5GGUGEVKQP2TQVGEVKQPUGVVKPIU
/QFKH[KPIUGTXKEGRNCPU
(WPEVKQP 6QOQFKH[VJGJQWTKPVGTXCNUHQTVJGUGTXKEGNGXGNU 5GTXKEGRNCPU 6JGUGTXKEGCEVKQPUVQDGECTTKGFQWVCTGITQWRGFKPRNCPUECNNGF5GTXKEGNGXGN#%QT'9JGPTGCEJKPI CPKPVGTXCNCOGUUCIGYKNNCRRGCTQPVJGUETGGPKPFKECVKPIYJKEJ5GTXKEGRNCPUCTGVQDGECTTKGFQWV
+PUVTWEVKQPOCPWCN
+ORQTVCPV #NYC[UEQPUWNV[QWT#VNCU%QREQ%WUVQOGT%GPVTGKHCVKOGTJCUVQDGEJCPIGF6JG KPVGTXCNUOWUVPQVGZEGGFVJGRTQITCOOGFPQOKPCNXCNWGU
2TQITCOOKPIENQEMHWPEVKQPU
(WPEVKQP 6QRTQITCO Ő 6KOGDCUGFUVCTVUVQREQOOCPFUHQTVJGEQORTGUUQT Ő 6KOGDCUGFEJCPIGQXGTEQOOCPFUHQTVJGPGVRTGUUWTGUGVVKPIU %QPVTQNRCPGN
/CKPUETGGP /CKPUETGGP<*VJTGGUVCIG ŋ%QORTGUUQT1WVNGVŌ ŋ+)81RGPŌ
DCT ŋ$18%NQUGFŌ
ŋ#WVQOCVKECNN[.QCFGFŌ ŋ/GPWŌ (
ŋ7PNQCFŌ (
(
2TQITCOOKPIUVCTVUVQRCPFRTGUUWTGUGVVKPIUEQOOCPFU +PVJKUGZCORNGVJGEQORTGUUQTYKNNDGRTQITCOOGFCUHQNNQYU Ő 1P/QPFC[CVUVCTVYKVJRTGUUWTGUGVVKPIU Ő 1P(TKFC[CVEJCPIGVQRTGUUWTGUGVVKPIU Ő 1P5CVWTFC[CVUVQR 5VCTVKPIHTQOVJG/CKPUETGGP Ő 2TGUUMG[ŋ/GPWŌ (
+PUVTWEVKQPOCPWCN
Ő 2TGUUCTTQYFQYPMG[ WPVKNVJGQRVKQPŋ/QFKH[2CTCOGVGTUŌKUHQNNQYGFD[CJQTK\QPVCNCTTQY Ő #EVKXCVGVJGOGPWD[RTGUUKPIVCDWNCVQTMG[ Ő 7UGCTTQYFQYPMG[ VQUETQNNWPVKNVJGQRVKQPŋ%NQEM(WPEVKQPŌKUHQNNQYGFD[CJQTK\QPVCNCTTQY Ő #EVKXCVGVJGOGPWD[RTGUUKPIVCDWNCVQTMG[ VJGHQNNQYKPIUETGGPCRRGCTU ŋ%NQEM(WPEVKQPŌ ŋ0QV#EVKXCVGFŌ ŋ/GPWŌ
ŋ/QFKH[Ō
ŋ&GNGVGŌ
(
(
(
Ő 2TGUUVCDWNCVQTMG[ VJGHQNNQYKPIUETGGPCRRGCTU ŋ/QPFC[Ō ŋ6WGUFC[Ō ŋ9GFPGUFC[Ō ŋ/GPWŌ (
ŋ&GNGVGŌ (
(
Ő 7UGUETQNNMG[U WPVKNVJGFC[QPYJKEJCEQOOCPFOWUVDGRTQITCOOGFKUHQNNQYGFD[C JQTK\QPVCNCTTQY2TGUUVCDWNCVQTMG[ VJGHQNNQYKPIUETGGPCRRGCTU
ŋ/GPWŌ
ŋ/QFKH[Ō
ŋ&GNGVGŌ
(
(
(
Ő 2TGUUMG[ŋ/QFKH[Ō (6JGHKTUVVYQFKIKVUYKNNHNCUJ7UGUETQNNMG[U VQGPVGT2TGUU VCDWNCVQTMG[ VQLWORVQVJGHQNNQYKPIVYQFKIKVU7UGVJGUETQNNMG[UVQGPVGT2TGUUVJG VCDWNCVQTMG[VQLWORVQVJGTQYQHFCUJGU7UGVJGUETQNNMG[UVQGPVGTVJGEQOOCPFŋ5VCTVŌ Ő 2TGUUVJGMG[ŋ2TQITCOŌVQRTQITCOVJGEQOOCPFŋ5VCTVŌ Ő 2TGUUCTTQYFQYPMG[ VJGGPFOCTMGTKPFKECVGUVJCVVJGUGEQPFNKPGKUCEEGUUKDNG2TGUUVJGMG[ ŋ/QFKH[ŌCPFOQFKH[VJKUNKPGKPCUKOKNCTYC[VQVJGHQNNQYKPIEQOOCPFŋ2TGUUWTG5GVVKPIU Ō Ő 2TGUUMG[ŋ/GPWŌ (CPFUETQNNVQŋ(TKFC[Ō ŋ6JWTUFC[Ō ŋ(TKFC[Ō ŋ5CVWTFC[Ō ŋ/GPWŌ (
ŋ&GNGVGŌ (
(
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6JGKPNGVITKFUCPFXGPVKNCVKQPHCPUJQWNFDGKPUVCNNGFKPUWEJCYC[VJCVCP[ TGEKTEWNCVKQPQHEQQNKPICKTVQVJGEQORTGUUQTKUCXQKFGF 6JGCKTXGNQEKV[VJTQWIJVJGITKFUUJQWNFDGNKOKVGFVQOU HVU %QPUWNVUGEVKQP.KOKVCVKQPUHQTVJGEQORTGUUQTNKOKVCVKQPU 6JGTGSWKTGFXGPVKNCVKQPECRCEKV[VQNKOKVVJGEQORTGUUQTTQQOVGORGTCVWTGECPDG ECNEWNCVGFCUHQNNQYU 3X0F6 Ő 3XTGSWKTGFXGPVKNCVKQPECRCEKV[KPOU Ő 0UJCHVKPRWVQHVJGEQORTGUUQTKPM9 Ő F6VGORGTCVWTGTKUGQXGTCODKGPVKPu%
(QTVJTGGUVCIGEQORTGUUQTU (KVVJGOCPWCNEQPFGPUCVGFTCKPXCNXGUHQTHKTUVKPVGTEQQNGT UGEQPFKPVGTEQQNGT
CPFCHVGTEQQNGT UGGRKEVWTGDGNQY.C[QWVVJGFTCKPRKRKPIVQYCTFUVJG EQPFGPUCVGEQNNGEVQT6JGFTCKPRKRGUOWUVPQVFKRKPVQVJGYCVGTKPVJGEQNNGEVQT+V KUUVTQPIN[TGEQOOGPFGFVQRTQXKFGCHWPPGNHQTGCEJFTCKPRKRGVQCNNQYXKUWCN KPURGEVKQPQHVJGEQPFGPUCVGHNQY
+PUVTWEVKQPOCPWCN
4GHGTGPEG
#EVKQP
2QUKVKQPQHVJGEQPVTQNRCPGN
C
2QUKVKQPQHVJGOGFKWOXQNVCIGECDNGGPVT[%JGEMVJCVVJGGNGEVTKECNEQPPGEVKQPU EQTTGURQPFVQVJGNQECNEQFGU6JGKPUVCNNCVKQPOWUVDGGCTVJGFCPFRTQVGEVGF CICKPUVUJQTVEKTEWKVUD[HWUGUKPCNNRJCUGU#PKUQNCVKPIUYKVEJOWUVDGKPUVCNNGF PGCTVJGEQORTGUUQT
D
2QUKVKQPQHVJGNQYXQNVCIGECDNGGPVT[
2QUKVKQPQHVJGEQPFGPUCVGFTCKPXCNXGU
4GOQXGVJGEQXGTUHTQOVJGYCVGTKPNGVCPFQWVNGVRKRGU+PUVCNNVJGFTCKPXCNXGU# YCVGTKPNGVCPFQWVNGVXCNXGKPFGEQORTGUUQTKPNGVCPFQWVNGVRKRGECPDGKPUVCNNGF D[VJGEWUVQOGT6JGXCNXGUOWUVDGRTQXKFGFNQECNN[ +VKUTGEQOOGPFGFVQRTQXKFGCUVTCKPGTKPVJGYCVGTKPNGVHQTHKNVGTKPIRCTVKENGUNCTIGT VJCPOO KP 6JGUVTCKPGTUJCXGVQDGUWKVCDNGHQTVJGEQQNKPIYCVGTHNQY+VKUCNUQTGEQOOGPFGF VQKPUVCNNCPKRRNGKPVJGYCVGTKPNGVCPFQWVNGVRKRG%QPPGEVVJGKPNGVCPFQWVNGV XCNXGVQVJGYCVGTPGV 5GGCNUQUGEVKQP/QWPVKPIQHQWVNGVRKRKPIHQTCNKIPOGPVVQNGTCPEGU +HYCVGTKPNGVCPFQWVNGVXCNXGUCTGKPUVCNNGFCUCHGV[FGXKEGYKVJUGVRTGUUWTG CEEQTFKPIVQVJGOCZKOWOEQQNKPIYCVGTKPNGVRTGUUWTG UGGUGEVKQP.KOKVCVKQPU OWUVDGKPUVCNNGFDGVYGGPVJGKPNGVXCNXGCPFVJGEQORTGUUQT9JGPQRGTCVKPIVJG WPKVVJGQRGTCVQTOWUVGPUWTGVJCVVJGEQQNKPIYCVGTU[UVGOECPPQVDGDNQEMGF
(QTVJTGGUVCIGEQORTGUUQTU
2QUKVKQPQHVJGFTCKPXCNXGUHQT<*
+PUVTWEVKQPOCPWCN
'NGEVTKEEQPPGEVKQPU
'NGEVTKECNFKCITCOHQTEQORTGUUQTYKVJQWVUVCTVGT
'NGEVTKECNFKCITCO'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQT
+PUVTWEVKQPOCPWCN
4GHGTGPEG
0COG
(
(WUGUEQPVTQNEKTEWKV
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7PFGTXQNVCIGTGNC[ EWUVQOGT UKPUVCNNCVKQP
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(WUGUNQYXQNVCIGUWRRN[
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1XGTNQCFTGNC[FTKXGOQVQT EWUVQOGT UKPUVCNNCVKQP
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1XGTNQCFTGNC[CWZKNKCT[QKNRWOROQVQT/
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1XGTNQCFTGNC[QKNFGOKUVGTHCPOQVQT/
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1XGTNQCFTGNC[QKNJGCVGT4
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1XGTNQCFTGNC[QKNJGCVGT4C
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5VCTVGTFTKXGOQVQT EWUVQOGT UKPUVCNNCVKQP
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%QPVCEVQTCWZKNKCT[QKNRWOROQVQT/
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%QPVCEVQTQKNFGOKUVGTHCPOQVQT/
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6GTOKPCNURJCUGNQYXQNVCIGUWRRN[
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&TKXGOQVQT
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4
1KNTGUGTXQKTJGCVGT
4C
1KNTGUGTXQKTJGCVGT
4
#PVKEQPFGPUCVKQPJGCVGT QRVKQPCN
6
/CKPVTCPUHQTOGT
6
/QVQTEWTTGPVVTCPUHQTOGTVTCPUOKVVGTO# EWUVQOGT UKPUVCNNCVKQP
66C
/QVQTYKPFKPIVGORGTCVWTG77 66 QRVKQPCN
66D
5RCTGOQVQTYKPFKPIVGORGTCVWTG77 66 QRVKQPCN
66C
/QVQTYKPFKPIVGORGTCVWTG88 66 QRVKQPCN
66D
5RCTGOQVQTYKPFKPIVGORGTCVWTG88 66 QRVKQPCN
66C
/QVQTYKPFKPIVGORGTCVWTG99 66 QRVKQPCN
66D
5RCTGOQVQTYKPFKPIVGORGTCVWTG99 66 QRVKQPCN
66
/QVQTDGCTKPIVGORGTCVWTGFTKXGGPF QRVKQPCN
66
/QVQTDGCTKPIVGORGTCVWTGPQPFTKXGGPF QRVKQPCN
:
6GTOKPCNUVTKRUWRRN[
:
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6GZVQPFTCYKPI 4GHGTGPEG
0COG
%WUVQOGT UKPUVCNNCVKQPOGFKWOXQNVCIGUWRRN[
%WUVQOGT UKPUVCNNCVKQPNQYXQNVCIGUWRRN[
%QPVTQNXQNVCIG
%QORTGUUQTOQVQT
26RTQVGEVKQPKPDGCTKPIU QRVKQPCN
+PUVTWEVKQPOCPWCN
4GHGTGPEG
0COG
26RTQVGEVKQPKPYKPFKPIU QRVKQPCN
/QVQTJGCVGT QRVKQPCN
6QDGKPUVCNNGFD[VJGEWUVQOGT
26OQVQTYKPFKPIU
26OQVQTDGCTKPIU
/QWPVKPIQHQWVNGVRKRKPI
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0COG
2KRGGPFEWUVQOGT
2KRGGPF#VNCU%QREQ
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4GHGTGPEG
0COG
#PIWNCTCNKIPOGPV
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%WUVQOGTUKFG
%WUVQOGTCKTQWVNGVRKRG
%QORTGUUQT
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%QQNKPIYCVGTTGSWKTGOGPVU
4GEQOOGPFCVKQPU 6JGEQQNKPIYCVGTSWCNKV[OWUVOGGVEGTVCKPOKPKOWOTGSWKTGOGPVU 0QIGPGTCNTGEQOOGPFCVKQPECPGPEQORCUUVJGGHHGEVUQHCNNEQODKPCVKQPUQHVJGXCTKQWUEQORQWPFU UQNKFUCPFICUGUV[RKECNN[HQWPFKPEQQNKPIYCVGTKPKPVGTCEVKQPYKVJFKHHGTGPVOCVGTKCNU 6JKUTGEQOOGPFCVKQPKUCIGPGTCNIWKFGNKPGHQTCEEGRVCDNGEQQNCPVSWCNKV[ 6[RGQHU[UVGO (KTUVKVKUKORQTVCPVVQEQPUKFGTYJGVJGT[QWCTGFGCNKPIYKVJCENQUGFU[UVGOQTCPQRGPU[UVGO+PC ENQUGFU[UVGOVJGUCOGEQQNKPIYCVGTEKTEWNCVGUVJTQWIJCU[UVGOYKVJQWVEQPVCEVYKVJCKT #PQRGPU[UVGOKUCRCUUVJTQWIJU[UVGOQTCEKTEWNCVKPIU[UVGOYKVJCEQQNKPIVQYGT+PVJGNCVVGT ECUGVJGEQORQUKVKQPQHVJGYCVGTVJCVGPVGTUVJGEQQNGTOWUVDGEQPUKFGTGFCPFPQVVJGEQORQUKVKQP QHVJGOCMGWRYCVGT&WGVQVJGGXCRQTCVKXGGHHGEVKPVJGEQQNKPIVQYGTOWEJJKIJGTEQPEGPVTCVKQPUQH KQPUECPDGQDVCKPGFKPVJGEKTEWNCVKPIYCVGTVJCPKPVJGOCMGWRYCVGT 4[\PCTUVCDKNKV[KPFGZ 45+ 6JG4[\PCT5VCDKNKV[+PFGZ 45+KUCRCTCOGVGTHQTRTGFKEVKPIYJGVJGTYCVGTYKNNVGPFVQFKUUQNXGQT RTGEKRKVCVGECNEKWOECTDQPCVG6JGCFJGUKQPQHUECNKPIFGRQUKVUCPFVJGKTGHHGEVCTGFKHHGTGPVQPFKHHGTGPV OCVGTKCNUDWVVJGGSWKNKDTKWOQHVJGYCVGT UECNKPIQTEQTTQUKXGKUQPN[FGVGTOKPGFD[KVUCEVWCNR*XCNWG CPFD[VJGUCVWTCVKQPR*XCNWG R*U 6JGUCVWTCVKQPR*XCNWGKUFGVGTOKPGFD[VJGTGNCVKQPUJKRDGVYGGPVJGECNEKWOJCTFPGUUVJGVQVCN CNMCNKPKV[VJGVQVCNUQNKFUEQPEGPVTCVKQPCPFVJGVGORGTCVWTG 6JG4[\PCT+PFGZKUECNEWNCVGFCUHQNNQYU 45+ R*UR*
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5[ODQN
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45+
9CVGTEQPFKVKQP
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45+
8GT[JKIJUECNGHQTOCVKQP
9CVGTECPPQVDGWUGF
45+
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4GIWNCTKPURGEVKQPCPFFGUECNKPIQRGTCVKQP PGEGUUCT[
45+
5NKIJVDQKNGTUECNGHQTOCVKQP
9CVGTVTGCVOGPVPQVPGEGUUCT[ 1EECUKQPCNKPURGEVKQPTGEQOOGPFGF
45+
0GWVTCNYCVGT
9CVGTVTGCVOGPVPQVPGEGUUCT[ 1EECUKQPCNKPURGEVKQPTGEQOOGPFGF
45+
5NKIJVEQTTQUKQPCVJKIJGT VGORGTCVWTG
9CVGTVTGCVOGPVPQVPGEGUUCT[ 1EECUKQPCNKPURGEVKQPTGEQOOGPFGF
45+
5VTQPIEQTTQUKQP
4GIWNCTKPURGEVKQPPGEGUUCT[WUGQHEQTTQUKQP KPJKDKVQTTGEQOOGPFGF
45+
8GT[UVTQPIEQTTQUKQP
4GIWNCTKPURGEVKQPPGEGUUCT[WUGQHEQTTQUKQP KPJKDKVQTTGSWKTGF
45+
8GT[UVTQPIEQTTQUKQPKP EQORNGVGYCVGTU[UVGO
9CVGTUJQWNFPQVDGWUGF
6JGVCDNGKPFKECVGUVJCVFKUVKNNGFQTFGOKPGTCNKUGFYCVGTUJQWNFPGXGTDGWUGFCUVJGKT45+KU
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
+PUVTWEVKQPOCPWCN
1RGPEQQNKPIU[UVGOUWNRJCVGURRO %CTDQPCVGJCTFPGUU %NQUGFEQQNKPIU[UVGORRO%C%1 1RGPEQQNKPIU[UVGORRO%C%1 *%151UJQWNFDG
#OOQPKC RRO %QRRGT RRO +TQPCPFOCPICPGUG RRO 1TICPKEU 0QCNICG 0QQKN 5WURGPFGFUQNKFU 0QPUQNWDNGRCTVKENGUUK\GOO RRO 4GOCTM %JNQTKFGCPFUWNRJCVGCTGKPVGTCEVKXG+PQRGPU[UVGOUVJGUWOQHVJGUSWCTGUQH VJGUGXCNWGUOWUVPQVGZEGGF(QTTGEKTEWNCVKPIU[UVGOUYKVJRTQRGT EQPVTQNUCPFVTGCVOGPVVJGUWOQHVJGUSWCTGUOC[DGWRVQ0QVGVJCV VJGUWNRJCVGXCNWGOWUVKPENWFGCP[UWNRJKVGRTGUGPV
+PUVTWEVKQPOCPWCN
2KEVQITCRJU
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4GHGTGPEG
0COG
5VCTV
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5ETQNNKPIWRFQYP
6CDWNCVQTMG[
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8QNVCIGQP
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#WVQOCVKEQRGTCVKQP
5VQR
%QPFGPUCVGFTCKPU (QTVJTGGUVCIGEQORTGUUQTU
4GHGTGPEG
0COG
%QPFGPUCVGFTCKPDNQYQHHUKNGPEGT
/CPWCNEQPFGPUCVGFTCKPCHVGTEQQNGT
#WVQOCVKEEQPFGPUCVGFTCKPCHVGTEQQNGT
/CPWCNEQPFGPUCVGFTCKPUGEQPFKPVGTEQQNGT
#WVQOCVKEEQPFGPUCVGFTCKPUGEQPFKPVGTEQQNGT
/CPWCNEQPFGPUCVGFTCKPHKTUVKPVGTEQQNGT
#WVQOCVKEEQPFGPUCVGFTCKPHKTUVKPVGTEQQNGT
+PUVTWEVKQPOCPWCN
9CVGTEQPPGEVKQPU
4GHGTGPEG
0COG
%QQNKPIYCVGTQWVNGV
%QQNKPIYCVGTKPNGV
1VJGTNQECVKQPU
4GHGTGPEG
0COG
9CTPKPIWPFGTVGPUKQP
*GCVGFUWTHCEG
%QPUWNVVJGKPUVTWEVKQPOCPWCNDGHQTGITGCUKPI
5YKVEJQHHVJGXQNVCIGCPFFGRTGUUWTKUGVJGEQORTGUUQTDGHQTGOCKPVGPCPEGQT TGRCKT
$GHQTGEQPPGEVKPIVJGEQORTGUUQTGNGEVTKECNN[EQPUWNVVJGKPUVTWEVKQPOCPWCNHQT VJGOQVQTTQVCVKQPFKTGEVKQP
6QTSWGUHQTUVGGN (GQTDTCUU %W
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4GCF+PUVTWEVKQPDQQMDGHQTGUVCTVKPIVJGEQORTGUUQT
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1RGTCVKPIKPUVTWEVKQPU
1RGTCVKQPKPVTQFWEVKQP
9CTPKPI 6JGQRGTCVQTOWUVCRRN[CNNTGNGXCPVKPUVTWEVKQPUKPUGEVKQP5CHGV[RTGECWVKQPU
#ODKGPVEQPFKVKQPU +HVJGCODKGPVQTCKTKPNGVVGORGTCVWTGUECPDGDG[QPFVJGNKOKVCVKQPU UGGUGEVKQP.KOKVCVKQPU RTGECWVKQPUOWUVDGVCMGP+PVJKUECUGCPFCNUQKHQRGTCVKPIKPQVJGTGZVTGOGEQPFKVKQPUEQPUWNV#VNCU %QREQ /QXKPINKHVKPI 6JGEQORTGUUQTECPDGOQXGFD[CNKHVVTWEMWUKPIVJGUNQVUKPVJGHTCOG/CMGUWTGVJCVVJGHQTMU RTQVTWFGHTQOVJGQVJGTUKFGQHVJGHTCOG6JGEQORTGUUQTECPCNUQDGNKHVGFCHVGTKPUGTVKPIDGCOUKPVJG UNQVU/CMGUWTGVJCVVJGDGCOUECPPQVUNKFGCPFVJCVVJG[RTQVTWFGHTQOVJGHTCOGGSWCNN[6JGEJCKPU OWUVDGJGNFRCTCNNGNVQVJGDQF[YQTMD[EJCKPURTGCFGTUKPQTFGTPQVVQFCOCIGVJGEQORTGUUQT6JG NKHVKPIGSWKROGPVOWUVDGRNCEGFKPUWEJCYC[VJCVVJGEQORTGUUQTKUNKHVGFRGTRGPFKEWNCTN[.KHVIGPVN[ CPFCXQKFVYKUVKPI
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2TGRCTCVKQPHQTKPKVKCNUVCTVWR
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#EVKQP
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#UVKEMGTFGCNKPIKPUJQTVYKVJVJGQRGTCVKQPKUFGNKXGTGFYKVJVJGEQORTGUUQT(KVKV PGZVVQVJGEQPVTQNRCPGN
(QTEQORTGUUQTUYKVJ'NGMVTQPKMQPTGIWNCVQT +HPQVRTQXKFGFUVKEMYCTPKPINCDGNUPGZVVQVJGEQPVTQNRCPGNCPFCNUQQPDQVJUKFGU QHVJGEQORTGUUQTCVCXKUKDNGRNCEGKPUKFGVJGDQF[YQTMKPFKECVKPIVJCVVJG EQORTGUUQTKUCWVQOCVKECNN[EQPVTQNNGF UVCTVGFCPFUVQRRGFD[VJG'NGMVTQPKMQP TGIWNCVQT
#PWODGTQH8%+ 8QNCVKNG%QTTQUKQP+PJKDKVQTRNCVGUCTGRTQXKFGFKPUKFGVJG DQF[YQTMVQRTQVGEVVJGEQORTGUUQTCICKPUVEQTTQUKQP4GOQXGVJGRNCVGU
%JGEMVJGXQNVCIGUGNGEVKPIYKTGUCVVTCPUHQTOGT 6HQTEQTTGEVEQPPGEVKQP CNCDGN KUUVWEMQPVJGVTCPUHQTOGT (QTEQORTGUUQTUYKVJ'NGMVTQPKMQPTGIWNCVQT %JGEMVJGUGVVKPIQHQXGTNQCFTGNC[U (C 5GGUGEVKQP1XGTNQCFTGNC[U
+PUVTWEVKQPOCPWCN
<*'NGMVTQPKMQPYKVJQWVUVCTVGT
5VGR
#EVKQP
4GOQXGVJGEGPVTGRCTVQHVJGFTKXGEQWRNKPI
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<*VJTGGUVCIG'NGMVTQPKMQP 5VGR
#EVKQP
*CXGVJGFTKXGOQVQTCNKIPOGPVEJGEMGFD[CP#VNCU%QREQTGRTGUGPVCVKXG
5VCTVVJGFTKXGOQVQTCPFUVQRKVKOOGFKCVGN[%JGEMVJGTQVCVKQPQHFTKXGOQVQT YJKNGVJGEQORTGUUQTKUEQCUVKPIVQCUVQRVJGEQTTGEVTQVCVKQPFKTGEVKQPKUEQWPVGT ENQEMYKUGYJGPNQQMKPICVVJGFTKXGGPFUJCHVQHVJGOQVQT+HVJKUKUKPEQTTGEV UYKVEJQHHVJGXQNVCIGCPFTGXGTUGVYQKPEQOKPIGNGEVTKENKPGU
(KVVJGEGPVTGRCTVQHVJGFTKXGEQWRNKPI WUKPIPGYDQNVU
%JGEMVJCVVJGQKNTGUGTXQKTKUHKNNGFYKVJQKNVQVJGHWNNOCTMQHUKIJVINCUU 5GG UGEVKQP.WDTKECPVURGEKHKECVKQPU (QTFTKXGOQVQTUGSWKRRGFYKVJUNGGXGDGCTKPIUEJGEMVJCVQKNKUXKUKDNGKPVJG DGCTKPIUKIJVINCUUGU
8KGYQPUKIJVINCUU<*
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5VGR
#EVKQP
6JGQWVNGVQHVJGFGOKUVGTOC[DGFWEVGFQWVUKFGQHVJGDQF[YQTM 6JGOCZKOWORTGUUWTGFTQRQXGTVJKURKRGKUODCT RUK 0GXGTKPUVCNNXCNXGUKPVJKURKRG#XQKFCP[QDUVTWEVKQPQTNKSWKFNQEMD[UCIIKPIQH VJGRKRG
%JGEMVJCVVJGEQQNKPIYCVGTFTCKPXCNXGU EWUVQOGT UKPUVCNNCVKQPKPVJGKPNGVCPF QWVNGVRKRKPICTGENQUGF%JGEMVJCVVJGFTCKPXCNXG KPVJGYCVGTKPNGVRKRGKU ENQUGFCPFVJGFTCKPRNWI KUHKVVGF
&TCKPXCNXGCPFRNWI<*
5VGR
#EVKQP
1RGPVJGYCVGTKPNGVCPFQWVNGVXCNXGU EWUVQOGT UKPUVCNNCVKQPCUYGNNCUVJGHNQY TGIWNCVKPIXCNXGU Ő CPFHQTVJTGGUVCIGEQORTGUUQTU %JGEMHQTYCVGTHNQY
+PUVTWEVKQPOCPWCN
(NQYTGIWNCVKPIXCNXGU<*VJTGGUVCIG 5VGR
#EVKQP
%NQUGVJGEQPFGPUCVGFTCKPXCNXGU Ő CPFHQTVJTGGUVCIGEQORTGUUQTU
2QUKVKQPQHVJGFTCKPXCNXGU<*VJTGGUVCIG
+PUVTWEVKQPOCPWCN
5VGR
#EVKQP
(QTEQORTGUUQTUYKVJ'NGMVTQPKMQPTGIWNCVQT 5YKVEJQPVJGXQNVCIGCPFEJGEMVJCVXQNVCIGQP.'& QPVJGEQPVTQNRCPGNNKIJVU WR%JGEMVJGQKNTGUGTXQKTVGORGTCVWTGKHDGNQYu% u(VJGQKNJGCVGT YKNNDGCEVKXCVGF UGGUGEVKQP3WKEMNQQMCVCEVWCNEQORTGUUQTUVCVWUVQEJGEMVJG QKNVGORGTCVWTGCPFVQHKPFVJGOGUUCIGŋ1KN*GCVGTŌŋ1PŌ
'NGMVTQPKMQPEQPVTQNRCPGN
5VGR
#EVKQP
(QTEQORTGUUQTUYKVJ'NGMVTQPKMQPTGIWNCVQT %JGEMVJCVVJGCWZKNKCT[QKNRWOR UVCTVUTWPPKPI UGGUGEVKQP3WKEMNQQMCVCEVWCN EQORTGUUQTUVCVWUVQHKPFVJGOGUUCIGŋ#WZKNKCT[1KN2WORŌŋ1PŌ6JGRWOROC[ UVCTVCHVGTCRGTKQFQHVKOGEQPVTQNNGFD[VJG'NGMVTQPKMQPTGIWNCVQT %JGEMVJGTQVCVKQPFKTGEVKQPQHVJGOQVQT QHVJGQKNRWORVJGEQTTGEVTQVCVKQP FKTGEVKQPKUENQEMYKUGYJGPNQQMKPICVVJGFTKXGGPFUJCHVQHVJGOQVQTKHVJKUKU KPEQTTGEVUYKVEJQHHVJGXQNVCIGCPFTGXGTUGVYQKPEQOKPIGNGEVTKENKPGUCVQXGTNQCF TGNC[ (UGGUVGR
+PUVTWEVKQPOCPWCN
#WZKNKCT[QKNRWORCPFOQVQT<*VJTGGUVCIG 5VGR
#EVKQP
%JGEMVJGTQVCVKQPQHHCPOQVQT QHVJGFGOKUVGT VJGEQTTGEVTQVCVKQPFKTGEVKQP KUENQEMYKUGYJGPNQQMKPICVVJGFTKXGGPFUJCHVQHVJGOQVQT (QTEQORTGUUQTUYKVJ'NGMVTQPKMQPTGIWNCVQT +HVJKUKUKPEQTTGEVUYKVEJQHHVJGXQNVCIGCPFTGXGTUGVYQKPEQOKPIGNGEVTKENKPGUCV QXGTNQCFTGNC[ (UGGUVGR
+PUVTWEVKQPOCPWCN
1KNFGOKUVGT 5VGR
#EVKQP
*CXGVJGVWPKPIQHKPNGVIWKFGXCPGU CPFDNQYQHHXCNXG EJGEMGFD[CP#VNCU %QREQTGRTGUGPVCVKXG
+PNGVIWKFGXCPGUCPFDNQYQHHXCNXG<*VJTGGUVCIG
+PUVTWEVKQPOCPWCN
5VGR
#EVKQP
*CXGVJGUGVVKPIURTQITCOOGFKPVJG'NGMVTQPKMQPTGIWNCVQTEJGEMGFD[CP#VNCU %QREQTGRTGUGPVCVKXG
%QORTGUUQTEQPVTQNOQFGU
%QPVTQNOQFGUHQT'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU
6JG'NGMVTQPKMQPTGIWNCVQTCNNQYUVJGQRGTCVQTVQUGNGEVVJTGGEQPVTQNOQFGU Ő .QECNEQPVTQNOQFG Ő 4GOQVGEQPVTQNOQFG Ő .QECN#TGC0GVYQTM .#0EQPVTQNOQFG &GUETKRVKQP
.QECNEQPVTQNOQFG TGOQVGEQPVTQNOQFGKUOCFGKPCEVKXG Ő 6JGEQORTGUUQTECPQPN[DGEQPVTQNNGFD[VJGDWVVQPUQPVJGEQPVTQNRCPGN Ő 6JGQKNKUMGRVCVVGORGTCVWTGCPFVJGQKNRWORKUQRGTCVKXG UVCTVGFQTUVQRRGF D[VJG'NGMVTQPKMQPTGIWNCVQT
4GOQVGEQPVTQNOQFG NQECNEQPVTQNKUOCFGKPCEVKXG Ő 6JGEQORTGUUQTYKNNQPN[TGCEVVQUVCTVUVQRCPFOCPWCNNQCFWPNQCFEQOOCPFU D[GZVGTPCNUYKVEJGU Ő 'OGTIGPE[UVQRDWVVQP TGOCKPUCEVKXG Ő 6JGQKNKUMGRVCVVGORGTCVWTGCPFVJGQKNRWORKUQRGTCVKXG UVCTVGFQTUVQRRGF D[VJG'NGMVTQPKMQPTGIWNCVQT
.#0EQPVTQNOQFG NQECNEQPVTQNKUOCFGKPCEVKXG Ő 6JGEQORTGUUQTECPDGEQPVTQNNGFD[CP'5EQPVTQNNGT
9CTPKPI 9JGPVJGGNGEVTKECNRQYGTVQVJGEQORTGUUQTKUUYKVEJGFQHHVJG'NGMVTQPKMQP TGIWNCVQTYKNNPQVTGCEVVQCP[UVCTVUVQREQOOCPFCPFVJGQKNYKNNPQVDGJGCVGFQT EKTEWNCVGF
+PUVTWEVKQPOCPWCN
$GHQTGUVCTVKPI
#VVGPVKQP 'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU $GHQTGUVCTVKPIVJGEQORTGUUQTVJGQKNVGORGTCVWTGOWUVGZEGGFu% u( KOOGFKCVGN[CHVGTRTGUUKPIVJGUVCTVDWVVQPVJGQKNRTGUUWTGOWUVGZEGGFDCT G
RUKI +HVJGUGEQPFKVKQPUCTGPQVHWNHKNNGFVJGEQORTGUUQTYKNNPQVUVCTVCPFVJGCNCTO.'&
YKNNNKIJVWRCHVGTVJGRGTOKUUKXGUVCTVVKOG UGEQPFU
+VKUTGEQOOGPFGFVQMGGRVJGXQNVCIGVQVJGEQORTGUUQTQPKPQTFGTVQMGGRVJGQKN JGCVGTGPGTIK\GFCPFVJGCWZKNKCT[QKNRWORQRGTCVKXG UVCTVGFCPFUVQRRGFD[VJG 'NGMVTQPKMQPTGIWNCVQT5GGUGEVKQP%QPVTQNNKPIVJGNWDTKECVKPIQKNU[UVGO <*EQORTGUUQTUCTGRTQXKFGFYKVJCPGZVTCQKNJGCVGT 2TQEGFWTG 5VGR
#EVKQP
%JGEMVJGQKNNGXGN YJKEJOWUVDGKPVJGITGGPTCPIGQTCDQXG6QRWRKH PGEGUUCT[YKVJVJGEQTTGEVV[RGQHQKN5GGUGEVKQP.WDTKECPVURGEKHKECVKQPU (QTFTKXGOQVQTUGSWKRRGFYKVJUNGGXGDGCTKPIUEJGEMVJCVQKNKUXKUKDNGKPVJG DGCTKPIUKIJVINCUUGU
8KGYQPUKIJVINCUUHQT<*
5VGR
#EVKQP
(QTVJTGGUVCIGEQORTGUUQTU %NQUGEQPFGPUCVGFTCKPXCNXGU CPF
+PUVTWEVKQPOCPWCN
2QUKVKQPQHVJGFTCKPXCNXGU
(QT<*VJTGGUVCIG 5VGR
#EVKQP
1RGPVJGCKTQWVNGVXCNXG
+HVJGEQQNKPIYCVGTYCUFTCKPGF UGGUGEVKQP5VQRRKPI Ő %NQUGVJGFTCKPXCNXG KPVJGYCVGTKPNGVRKRGCPFHKVVJGFTCKPRNWI Ő (KVVJGFTCKPRNWIU WPFGTPGCVJCNNEQQNGTU
&TCKPXCNXG
(QT<* &TCKPRNWIUCPFYCVGTHNQYTGIWNCVKQPXCNXGU
+PUVTWEVKQPOCPWCN
(QT<*VJTGGUVCIG
5VGR
#EVKQP
1RGPVJGYCVGTKPNGVXCNXGCPFQWVNGVXCNXG
(QTVJTGGUVCIGEQORTGUUQTU 1RGPVJGYCVGTHNQYTGIWNCVKPIXCNXGU CPF UGGRKEVWTGCDQXG6JGQRGPKPI QHVJGUGXCNXGUECPDGUMKRRGFKHCHVGTRTGXKQWUQRGTCVKQPVJGUGVVKPIUJCXGPQV DGGPEJCPIGF
4QWVKPGUVCTVKPI
'NGMVTQPKMQP%QPVTQNRCPGN
+PUVTWEVKQPOCPWCN
2TQEGFWTG 5VGR
#EVKQP
5YKVEJQPVJGXQNVCIG%JGEMVJCVXQNVCIGQP.'& QPVJGEQPVTQNRCPGNNKIJVUWR
0QTOCNN[VJG/CKPUETGGPKUUJQYP 6JGUETGGPUJQYU Ő VJGEQORTGUUQTQWVNGVRTGUUWTG Ő VJGRGTEGPVCIGQHQRGPRQUKVKQPQHKPNGVIWKFGXCPGU +)8 Ő (QTVJTGGUVCIGEQORTGUUQTU VJGRGTEGPVCIGQHENQUGFRQUKVKQPQHDNQYQHHXCNXG $18 Ő VJGEQORTGUUQTQRGTCVKQPUVCVWU $[RTGUUKPICTTQYFQYPMG[ QPVJGEQPVTQNRCPGNQVJGTEQPFKVKQPUCTGUJQYP
COQPIUVQVJGTU Ő VJGEQPFKVKQPUQHVJGCWZKNKCT[QKNRWORCPFQKNJGCVGT <*EQORTGUUQTUCTGRTQXKFGFYKVJCPGZVTCQKNJGCVGT Ő YJGVJGTVJGEQORTGUUQTKUEQPVTQNNGFNQECNN[ UVCTVUVQRCPFOCPWCNNQCFWPNQCF EQOOCPFUQPN[RQUUKDNGD[OGCPUQHVJGDWVVQPUQHVJGEQPVTQNRCPGN EQPVTQNNGFTGOQVGN[ UVCTVUVQRCPFOCPWCNNQCFWPNQCFEQOOCPFUQPN[RQUUKDNG D[OGCPUQHGZVGTPCNUYKVEJGUQTEQPVTQNNGFD[.QECN#TGC0GVYQTM .#0 Ő VJGUVCVWUQHVJG9GGMVKOGT KHCEVKXCVGFVJGRTQITCOOGFVKOGDCUGFUVCTVCPF UVQREQOOCPFUYKNNDGGZGEWVGFUGGUGEVKQP2TQITCOOKPIENQEMHWPEVKQPU
2TGUUUVCTVDWVVQP QPVJGEQPVTQNRCPGN6JGEQORTGUUQTUVCTVUTWPPKPIKP WPNQCFGFEQPFKVKQP#WVQOCVKEQRGTCVKQP.'& QPVJGEQPVTQNRCPGNYKNNNKIJVWR #WZKNKCT[QKNRWOR UJQWNFCWVQOCVKECNN[VWTPQHHCHVGTVJGEQORTGUUQTJCU TGCEJGFHWNNQRGTCVKPIURGGF
#HVGTUGEQPFU RTQITCOOCDNGVJGEQORTGUUQTUVCTVUTWPPKPINQCFGF
(QTVJTGGUVCIGEQORTGUUQTU+HPGEGUUCT[TGIWNCVGVJGYCVGTHNQYYKVJVJG EQORTGUUQTTWPPKPINQCFGFWUKPIXCNXGU CPF %QPUWNVUGEVKQPU&GUKIPEQPFKVKQPU.KOKVCVKQPUCPF%QORTGUUQTFCVC
$NQYQHHXCNXGKPNGVIWKFGXCPGUCWZKNKCT[QKNRWORCPFYCVGTHNQYTGIWNCVKPIXCNXGU
(QT<*VJTGGUVCIG
+PUVTWEVKQPOCPWCN
5VCTVKPICHVGTGOGTIGPE[UVQRQTUJWVFQYP
&GUETKRVKQP (QT'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU
2TGUUGOGTIGPE[UVQRDWVVQP KHPQV[GVFQPGUYKVEJQHHVJGXQNVCIGCPFFGRTGUUWTKUGVJG EQORTGUUQT#HVGTTGOGF[KPIVJGHCWNVWPNQEMVJGGOGTIGPE[UVQRDWVVQPD[VWTPKPIKVQWVRWUJMG[ ŋ4GUGVŌ (CPFTGUVCTVVJGEQORTGUUQT 5GGUGEVKQP4QWVKPGUVCTVKPI
0WODGTQHOQVQTUVCTVU
&GUETKRVKQP +PCWVQOCVKEQRGTCVKQPVJG'NGMVTQPKMQPTGIWNCVQTNKOKVUVJGPWODGTQHOQVQTUVCTVU5GGUGEVKQP 4GIWNCVKQPUGVVKPIU
&WTKPIQRGTCVKQP
'NGMVTQPKMQPEQPVTQNRCPGN
+PUVTWEVKQPOCPWCN
2TQEGFWTG 5VGR
#EVKQP
9JGP.'& KUNKVWRUVCTVKPICPFUVQRRKPIQHVJGOQVQTKUCWVQOCVKECNN[ EQPVTQNNGFYJGPVJGOQVQTKUUVQRRGFKVOC[TGUVCTVCWVQOCVKECNN[
%JGEMVJGTGCFKPIUQPFKURNC[ 5GGUGEVKQP%JGEMKPIVJGFKURNC[
6QWPNQCFVJGEQORTGUUQTOCPWCNN[RTGUUMG[ŋ7PNQCFŌ ( 6QRWVVJGEQORTGUUQTDCEMKPVQCWVQOCVKEQRGTCVKQPRTGUUMG[ŋ.QCFŌ (
(QTVJTGGUVCIGEQORTGUUQTU %JGEMVJCVEQPFGPUCVGKUFTCKPGFVJTQWIJVJGCWVQOCVKEFTCKPQWVNGVU CPF
VJGCOQWPVFGRGPFUQPVJGCODKGPVCPFQRGTCVKPIEQPFKVKQPU
+ORQTVCPV +HVJGOQVQTKUUVQRRGFCPFCWVQOCVKEQRGTCVKQP.'& QPVJGEQPVTQNRCPGNKUNKV WRUVCTVKPICPFUVQRRKPIQHVJGOQVQTUCTGCWVQOCVKECNN[EQPVTQNNGFD[VJG 'NGMVTQPKMQPTGIWNCVQT 5GGCNUQUGEVKQPU Ő #WVQOCVKETGUVCTVCHVGTXQNVCIGHCKNWTG Ő %QPVTQNNKPIVJGEQORTGUUQTECRCEKV[HQTCWVQOCVKETGUVCTVCHVGTKFNKPI Ő 2TQITCOOKPIENQEMHWPEVKQPHQTVKOGDCUGFUVCTVCPFUVQREQOOCPFU #HVGTUVQRRKPIVJGOQVQTKURTGXGPVGFHTQOTGUVCTVKPIYKVJKPCRTQITCOOCDNGVKOG RGTKQFYJKEJKUUGVGZHCEVQT[CV Ő UGEQPFU ECNNGFOKPKOWOUVQRVKOGHQT<* #UVCTVEQOOCPFYKNNDGGZGEWVGFCHVGTTWPPKPIQWVQHVJKURGTKQF #WVQOCVKEFTCKPQWVNGVU
(QT<*VJTGGUVCIG
+PUVTWEVKQPOCPWCN
%JGEMKPIVJGFKURNC[
'NGMVTQPKMQPEQPVTQNRCPGN
2TQEGFWTG 5VGR
#EVKQP
4GIWNCTN[EJGEMVJGFKURNC[ HQTTGCFKPIUCPFOGUUCIGU0QTOCNN[VJG EQORTGUUQTOCKPUETGGPKUUJQYP
(QT'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU #NYC[UEJGEMVJGFKURNC[CPFTGOGF[VJGVTQWDNGKHCNCTO.'& KUHNCUJKPIQTNKV WR%QPUWNVUGEVKQP5VCVWUFCVCOGPW
9CTPKPI $GHQTGECTT[KPIQWVCP[OCKPVGPCPEGTGRCKTQTCFLWUVOGPVUVQRVJGEQORTGUUQT RTGUUGOGTIGPE[UVQRDWVVQP UYKVEJQHHVJGXQNVCIGCPFFGRTGUUWTK\GVJG EQORTGUUQT
/CPWCNEQPVTQNQHEQORTGUUQTQRGTCVKQP
'NGMVTQPKMQPEQPVTQNRCPGN
0QTOCNN[VJGEQORTGUUQTTWPUKPCWVQOCVKEQRGTCVKQPVJG'NGMVTQPKMQPTGIWNCVQTEQPVTQNUVJGECRCEKV[ CPFQRGTCVKQPQHVJGEQORTGUUQT.'& KUNKVWR
+PUVTWEVKQPOCPWCN
+HTGSWKTGFVJGEQORTGUUQTECPDGWPNQCFGFOCPWCNN[D[RTGUUKPIVJGMG[7PNQCFŌ (QPVJG/CKP UETGGPVJGEQORTGUUQTKUUYKVEJGFQWVQHCWVQOCVKEQRGTCVKQPCPFTGOCKPUTWPPKPIWPNQCFGF.'& IQGUQHH ŋ%QORTGUUQT1WVNGVŌ ŋ+)81RGPŌ
DCT ŋ$18%NQUGFŌ
ŋ#WVQOCVKECNN[.QCFGFŌ ŋ/GPWŌ
ŋ7PNQCFŌ
(
(
(
2TGUUVJGMG[ŋ.QCFŌ (QPVJG/CKPUETGGPVQUYKVEJVJGEQORTGUUQTVQCWVQOCVKEQRGTCVKQPCICKP
CWVQOCVKEECRCEKV[TGIWNCVKQPEQPVTQNNGFD[VJG'NGMVTQPKMQPTGIWNCVQT.'& NKIJVUWR
5VQRRKPI
'NGMVTQPKMQPEQPVTQNRCPGN
2TQEGFWTG 5VGR
#EVKQP
2TGUUUVQRDWVVQP 6JGEQORTGUUQTYKNNHQNNQYCRTQITCOOGFUVQRUGSWGPEG TWP WPNQCFGFHQTUQOGUGEQPFUCHVGTYJKEJKVYKNNUVQR
%NQUGVJGCKTQWVNGVXCNXG
(QT'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU 6QUVQRVJGEQORTGUUQTKOOGFKCVGN[KPVJGGXGPVQHCPGOGTIGPE[RTGUU GOGTIGPE[UVQRDWVVQP .'& UVCTVUHNCUJKPI #HVGTTGOGF[KPIVJGVTQWDNGWPNQEMVJGGOGTIGPE[UVQRDWVVQPD[VWTPKPIKVQWV
(QTVJTGGUVCIGEQORTGUUQTU 1RGPEQPFGPUCVGFTCKPXCNXGU CPF
%NQUGVJGEQQNKPIYCVGTKPNGVXCNXG
+HVJGEQORTGUUQTKUKPUVCNNGFKPCTQQOYJGTGHTGG\KPIVGORGTCVWTGUCTGGZRGEVGF FTCKPVJGEQQNKPIU[UVGO Ő 4GOQXGFTCKPRNWI KPVJGYCVGTKPNGVRKRGCPFQRGPVJGFTCKPXCNXG Ő 4GOQXGVJGFTCKPRNWIU WPFGTPGCVJCNNEQQNGTU
+PUVTWEVKQPOCPWCN
%QPFGPUCVGFTCKPXCNXGUEQQNGTU
(QT<*VJTGGUVCIG &TCKPXCNXGCPFRNWIYCVGTKPNGVRKRG
(QT<*
+PUVTWEVKQPOCPWCN
&TCKPRNWIUEQQNGTU
(QT<*VJTGGUVCIG #VVGPVKQP (QT'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU +VKUTGEQOOGPFGFVQMGGRVJGXQNVCIGVQVJGEQORTGUUQTQPKPQTFGTVQMGGRVJGQKN JGCVGTGPGTIK\GFCPFVJGCWZKNKCT[QKNRWORQRGTCVKXG UVCTVGFCPFUVQRRGFD[VJG 'NGMVTQPKMQPTGIWNCVQT <*EQORTGUUQTUCTGRTQXKFGFYKVJCUGEQPFQKNJGCVGT 5GGUGEVKQP%QPVTQNNKPIVJGNWDTKECVKPIQKNU[UVGO
6CMKPIQWVQHQRGTCVKQP
2TQEGFWTG #VVJGGPFQHVJGUGTXKEGNKHGQHVJGEQORTGUUQTRTQEGGFCUHQNNQYU 5VGR
#EVKQP
%NQUGVJGCKTQWVNGVXCNXGCPFUVQRVJGEQORTGUUQT
5YKVEJQHHVJGXQNVCIGCPFFKUEQPPGEVVJGEQORTGUUQTHTQOVJGOCKPU
5JWVQHHCPFFGRTGUUWTK\GVJGRCTVQHVJGCKTPGVYJKEJKUEQPPGEVGFVQVJGQWVNGV XCNXG&KUEQPPGEVVJGEQORTGUUQTCKTQWVNGVRKRGHTQOVJGCKTPGV
&TCKPVJGYCVGTQKNCPFEQPFGPUCVGEKTEWKVU
&KUEQPPGEVVJGEQORTGUUQTEQPFGPUCVGRKRKPIHTQOVJGEQPFGPUCVGFTCKPPGV
&KUEQPPGEVVJGEQQNKPIYCVGTRKRGUHTQOVJGEQORTGUUQT
+PUVTWEVKQPOCPWCN
/CKPVGPCPEG
/CKPVGPCPEGYCTPKPIU
9CTPKPI 'NGMVTQPKMQPEQPVTQNRCPGN
$GHQTGUVCTVKPICP[OCKPVGPCPEGQTTGRCKTRTGUUUVQRDWVVQP YCKVWPVKNVJG EQORTGUUQTJCUUVQRRGFRTGUUGOGTIGPE[UVQRDWVVQP UYKVEJQHHVJGXQNVCIG CPFFGRTGUUWTK\GVJGEQORTGUUQT 2TQVGEVKQPCICKPUVWPKPVGPVKQPCNUYKVEJQP #RRN[CNNTGNGXCPVKPUVTWEVKQPUKPUGEVKQP5CHGV[RTGECWVKQPU
2TGXGPVKXGOCKPVGPCPEGUEJGFWNG
4GOCTMU 6QGPUWTGUCHGQRGTCVKQPCPFNQPIUGTXKEGNKHGECTT[QWVHQNNQYKPIQRGTCVKQPUCVVJG KPVGTXCN RGTKQFQTTWPPKPIJQWTUYJKEJEQOGUHKTUV 6JGNQPIGTKPVGTXCNEJGEMUOWUVCNUQKPENWFGVJGUJQTVGTKPVGTXCNEJGEMU 4GCFVJGTGNCVGFUGEVKQPDGHQTGECTT[KPIQWVOCKPVGPCPEGOGCUWTGU 6JGNQECN#VNCU%QREQ%WUVQOGT%GPVTGOC[QXGTTWNGVJGOCKPVGPCPEGUEJGFWNG FGRGPFKPIQPVJGGPXKTQPOGPVCNCPFYQTMKPIEQPFKVKQPUQHVJGEQORTGUUQT 9JGPUGTXKEKPITGRNCEGCNNTGOQXGFICUMGVU1TKPIUCPFYCUJGTU
+PUVTWEVKQPOCPWCN
5EJGFWNG'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU 2GTKQF
4WPPKPI JQWTU
4GHGTGPEG
1RGTCVKQP
&CKN[
%JGEMQRGTCVKQPQHKPNGVIWKFGXCPGUCPFDNQY QHHXCNXG
&CKN[
'NGMVTQPKMQPTGIWNCVQT
%JGEMHQTYCTPKPIU
&CKN[
$GHQTGUVCTVKPI
%JGEMQKNNGXGN .GXGNUJQWNFDGKPITGGPTCPIGQTCDQXG
&CKN[
4GCFKPIUQPFKURNC[
%JGEMFKURNC[TGCFKPIU
&CKN[
%JGEMVJCVEQPFGPUCVGKUFKUEJCTIGFHTQO CWVQOCVKEFTCKPU 6JGCOQWPVQHEQPFGPUCVGFGRGPFUQPVJG YQTMKPICPFGPXKTQPOGPVCNEQPFKVKQPU6JG COQWPVFKUEJCTIGFHTQOVJGKPVGTEQQNGTUKUNQY KPTGNCVKQPVQVJGEQPFGPUCVGHNQYHTQOVJG CHVGTEQQNGT
&CKN[
5VQRRKPI
/CPWCNN[FTCKPEQPFGPUCVGFTCKPTGEGKXGTUCHVGT UVQRRKPI
9GGMN[
2TQITCOOCDNGUGVVKPIU
%JGEMRTQITCOOGFUGVVKPIU
9GGMN[
%JGEMHQTYCVGTQKNQTCKTNGCMU #P[NGCMUJQWNFDGCVVGPFGFVQKOOGFKCVGN[
9GGMN[
%JGEMHQTCDPQTOCNPQKUG
9GGMN[
&TCKPEQPFGPUCVGHTQOCKTTGEGKXGTKHKPUVCNNGF
&TKXGOQVQTITGCUKPI
)TGCUGOQVQTDGCTKPIU 6JGKPVGTXCNFGRGPFUQPVJGCODKGPV VGORGTCVWTG%QPUWNV#VNCU%QREQKHKPCP[ FQWDV
/QPVJN[
%JGEMIGPGTCNEQPFKVKQPQHCNNHNGZKDNGJQUGU CPFTWDDGTEQORGPUCVQTU4GRNCEGKH PGEGUUCT[
/QPVJN[
2TGRCTCVKQPHQTKPKVKCNUVCTV WR
%JGEMRTGUUWTGFTQRQXGTQKNFGOKUVGTRKRG KH FWEVGFCYC[
5GTXKEGOGPW
#PWODGTQHUGTXKEGQRGTCVKQPUCTGITQWRGF+H VJGRTQITCOOGFUGTXKEGKPVGTXCNKUTGCEJGFC OGUUCIGYKNNCRRGCTQPVJGFKURNC[QHVJG TGIWNCVQTVQECTT[QWVVJGUGUGTXKEGCEVKQPU
&TKXGOQVQTITGCUKPI
&GUETKRVKQP (QTOQVQTUYKVJTQNNGTDGCTKPIUUGGUGEVKQP/QVQTV[RGU 6[RG
7UG#VNCU%QREQ4QVQ)NKFGITGCUG
+PVGTXCN
6JGITGCUGKPVGTXCNKUQRGTCVKPIJQWTUQTOQTG%QPUWNVVJGOQVQTFCVCRNCVG
+PUVTWEVKQPOCPWCN
#VVGPVKQP 0GXGTOKZFKHHGTGPVITGCUGU %QPUWNV#VNCU%QREQKPECUGQHCOQVQTYKVJUNGGXGDGCTKPIU
.WDTKECPVURGEKHKECVKQPU
&GUETKRVKQP 7UG#VNCU%QREQ4QVQ*2NWU6JKUKUURGEKCNNWDTKECPVHQT<*EQORTGUUQTUGPUWTKPIQRVKOWODGCTKPI NWDTKECVKQP 6JKUNWDTKECPVECPDGQTFGTGFKPVJGHQNNQYKPISWCPVKVKGU #NNOCTMGVUGZEGRVHQT75#CPF%CPCFC 3WCPVKV[
1TFGTKPIPWODGT
NECP
75ICNECP
+ORICNECP
EWHVECP
NFTWO
75ICNFTWO
+ORICNFTWO
EWHVFTWO
(QT75#CPF%CPCFC 3WCPVKV[
1TFGTKPIPWODGT
NECP
75ICNECP
+ORICNECP
EWHVECP
NFTWO
75ICNFTWO
+ORICNFTWO
EWHVFTWO
#VVGPVKQP &QPQVOKZ4QVQ*2NWUYKVJ4QVQ*QTQVJGTNWDTKECPVU
+PUVTWEVKQPOCPWCN
5VQTCIGCHVGTKPUVCNNCVKQP
2TQEGFWTG 5VGR
#EVKQP
(QTVJTGGUVCIGEQORTGUUQTU 1RGPEQPFGPUCVGFTCKPXCNXGU CPF%NQUGVJGXCNXGUCHVGTFTCKPKPI
&TCKPXCNXGU
2QUKVKQPQHVJGFTCKPXCNXGUHQT<*VJTGGUVCIG 5VGR
#EVKQP
(QT'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU -GGRVJGXQNVCIGVQVJGEQORTGUUQTQP .'& KUNKVKPQTFGTVQMGGRVJGQKNYCTO CPFRWORGFCTQWPFRTGXGPVKPIVJGKPVGTPCNU[UVGOHTQOTWUVKPI
(QT'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU +HVJGEQORTGUUQTKUUYKVEJGFQHHRWVKVDCEMKPVQQRGTCVKQPQPEGCYGGMYCKVWPVKN VJGUVCTVKPIEQPFKVKQPUCTGHWNHKNNGFCPFTWPVJGEQORTGUUQTHQTCDQWVOKPWVGU
'NGMVTQPKMQPEQPVTQNRCPGN
+PUVTWEVKQPOCPWCN
9CTPKPI -GGRVJGEQORTGUUQTTQQOYGNNXGPVKNCVGFCPFVJGEQORTGUUQTENGCP2TQVGEVVJG EQORTGUUQTKHVJGCODKGPVVGORGTCVWTGECPGZEGGFVJGNKOKVCVKQPU UGGUGEVKQP .KOKVCVKQPU+HKPCP[FQWDVEQPUWNV#VNCU%QREQ +HVJGEQORTGUUQTKUIQKPIVQDGUVQTGFYKVJQWVTWPPKPIHTQOVKOGVQVKOG RTQVGEVKXGOGCUWTGUOWUVDGVCMGP%QPUWNV#VNCU%QREQ
5GTXKEGCITGGOGPVU
&GUETKRVKQP #VNCU%QREQ%WUVQOGT%GPVTGUJCXGCTCPIGQHUGTXKEGCITGGOGPVUVQUWKV[QWTPGGFU Ő #P+PURGEVKQP2NCP Ő #2TGXGPVKXG/CKPVGPCPEG2NCP Ő #6QVCN4GURQPUKDKNKV[2NCP %QPVCEV[QWT%WUVQOGT%GPVTGVQUGVWRCVCKNQTOCFGUGTXKEGCITGGOGPV+VYKNNGPUWTGQRVKOWO QRGTCVKQPCNGHHKEKGPE[OKPKOKUGFQYPVKOGCPFTGFWEGVJGVQVCNNKHGE[ENGEQUVU
5GTXKEGMKVU
&GUETKRVKQP #VNCU%QREQ%WUVQOGT%GPVTGUYKNNDGINCFVQRTQXKFG[QWYKVJCYKFGTCPIGQHUGTXKEGMKVU5GTXKEGMKVU EQORTKUGCNNRCTVUPGGFGFHQTUGTXKEKPIEQORQPGPVUCPFQHHGTVJGDGPGHKVUQHIGPWKPG#VNCU%QREQRCTVU YJKNGMGGRKPIVJGOCKPVGPCPEGDWFIGVNQY
+PUVTWEVKQPOCPWCN
5GTXKEKPIRTQEGFWTGU
#KTHKNVGTU
2TQEGFWTG 5VGR
#EVKQP
+PFWUV[QRGTCVKPIEQPFKVKQPUYJGTGKVYQWNFDGPGEGUUCT[VQTGRNCEGVJGHKNVGTUXGT[ HTGSWGPVN[CPCRRTQRTKCVGRTGHKNVGTQHVJGFT[V[RGUJQWNFDGKPUVCNNGF
6JGHKNVGTUOWUVDGUGTXKEGFCUUQQPCUVJGUGTXKEGYCTPKPICRRGCTUQPVJGFKURNC[ QT[GCTN[
5VQRVJGEQORTGUUQTCPFUYKVEJQHHVJGXQNVCIG
4GOQXGVJGEQXGT CPFENGCPVJGHKNVGTEJCODGT
4GOQXGVJGHKNVGTU 6CMGECTGVJCVPQFKTVFTQRUKPVQVJGHKNVGTDQZ
+PUVCNNVJGPGYHKNVGTU UGGUGEVKQP5GTXKEGMKVUCPFHKVVJGEQXGT0GXGTKPUVCNN FCOCIGFQTENQIIGFHKNVGTU
5YKVEJQPVJGXQNVCIG
(QT'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU #HVGTECTT[KPIQWVVJGUGTXKEGCEVKQPUQHVJGTGURGEVKXGUGTXKEGRNCPVJGUGTXKEG YCTPKPIOWUVDGTGUGV5GGCNUQUGEVKQP5GTXKEGOGPW
(KNVGTU
(QT<*
+PUVTWEVKQPOCPWCN
1KNCPFQKNHKNVGTEJCPIG
2TQEGFWTG 5VGR
#EVKQP
4WPVJGEQORTGUUQTWPVKNYCTO5VQRVJGEQORTGUUQTCPFUYKVEJQHHVJGXQNVCIG
4GOQXGHKNNGTRNWI &TCKPVJGEQORTGUUQTUWORD[QRGPKPIFTCKPXCNXG %NQUG VJGXCNXGCHVGTFTCKPKPI
4GOQXGVJGHKNVGTCPFHKVCPGYQPG
4GOQXGKPURGEVKQPEQXGT CPFEJGEMQKNUVTCKPGT +HPGEGUUCT[ENGCPVJG UVTCKPGT4GKPUVCNNVJGEQXGT
(KNNVJGEQORTGUUQTUWORVQVJGHWNNOCTMQHUKIJVINCUU YKVJQKNCUURGEKHKGFKP UGEVKQP.WDTKECPVURGEKHKECVKQP Ő CRRTQZN 75ICN+ORICNEWHVHQT<*
5YKVEJQPVJGXQNVCIG
(QT'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU #HVGTECTT[KPIQWVVJGUGTXKEGCEVKQPUQHVJGTGURGEVKXGUGTXKEGRNCPVJGUGTXKEG YCTPKPIOWUVDGTGUGV5GGCNUQUGEVKQP5GTXKEGOGPW
1KNHKNVGT
+PUVTWEVKQPOCPWCN
1KNTGUGTXQKT
(QT<* (KNVGTEJCPIGHQTFWCNQKNHKNVGTU 9JGPJCPFNG KUUYKVEJGFVQVJGNGHV CPFJCPFNG RGTRGPFKEWNCTVQJCPFNG VJGTKIJVHKNVGTKUKP QRGTCVKQPCPFXKEGXGTUC#UUWOGVJCVVJGTKIJVHKNVGTKUKPQRGTCVKQPCPFPGGFUVQDGEJCPIGF 5VGR
#EVKQP
.QQUGPXGPVKPIRNWIU QHVJGNGHVHKNVGTWPVKNVJGXGPVKPIJQNGUCTGXKUKDNG
5YKVEJJCPFNG KPNKPGYKVJJCPFNG VQHKNNVJGNGHVHKNVGTYKVJQKNCPFVQXGPVKV
9JGPQKNHNQYUQWVVJGXGPVKPIJQNGUENQUGVJGXGPVKPIRNWIU5YKVEJJCPFNG WPVKNKVKURGTRGPFKEWNCTVQJCPFNG
5YKVEJJCPFNG VQVJGTKIJVVJGNGHVHKNVGTKUKPQRGTCVKQP
4GOQXGVJGTKIJVHKNVGTCPFHKVCPGYQPG VQTSWG0O NDHHV4GRNCEGVJG UGCNUQPVJGXGPVKPIRNWIU
&WCNQKNHKNVGT
+PUVTWEVKQPOCPWCN
&GOKUVGT
2TQEGFWTG 5VGR
#EVKQP
5VQRVJGEQORTGUUQTCPFUYKVEJQHHVJGXQNVCIG
.QQUGPVJGENCORTKPI CPFTGOQXGVJGWRRGTRCTV QHVJGFGOKUVGT
7PUETGYVJGDQNVWPFGTPGCVJVJGHKNVGTECTVTKFIGCPFVCMGQWVVJGECTVTKFIGCPF ICUMGV
(KVVJGPGYICUMGVCPFHKNVGTECTVTKFIGKPVQVJGWRRGTRCTVQHVJGFGOKUVGTCPFUETGY KPVJGDQNVWPFGTPGCVJVJGECTVTKFIGVQUGEWTGKV
4GKPUVCNNVJGWRRGTRCTV QHVJGFGOKUVGTCPFVKIJVGPVJGENCORTKPI
5YKVEJQPVJGXQNVCIG
(QT'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU #HVGTECTT[KPIQWVVJGUGTXKEGCEVKQPUQHVJGTGURGEVKXGUGTXKEGRNCPVJGUGTXKEG YCTPKPIOWUVDGTGUGV5GGCNUQUGEVKQP5GTXKEGOGPW
8KGYQHQKNFGOKUVGT
0QVG #FGOKUVGTGNGOGPVMKVECPDGQTFGTGFRCTVPWODGT
+PUVTWEVKQPOCPWCN
2TQDNGOUQNXKPI
2TQDNGOUQNXKPI
9CTPKPI $GHQTGUVCTVKPICP[OCKPVGPCPEGQTTGRCKTRTGUUUVQRDWVVQP YCKVWPVKNVJG EQORTGUUQTJCUUVQRRGFRTGUUGOGTIGPE[UVQRDWVVQP UYKVEJQHHVJGXQNVCIG CPFFGRTGUUWTK\GVJGEQORTGUUQT 2TQVGEVKQPCICKPUVWPKPVGPVKQPCNUYKVEJQP #RRN[CNNTGNGXCPVKPUVTWEVKQPUKPUGEVKQP5CHGV[2TGECWVKQPU 'NGMVTQPKMQPEQPVTQNRCPGN
(CWNVUCPFTGOGFKGU (QT'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU
%QPFKVKQP
(CWNV
4GOGF[
6JGEQORTGUUQTFQGUPQV UVCTV.'& KUNKVWRQT HNCUJKPI
#RTQVGEVKQPHWPEVKQPKUCEVKXG
5ETQNNVQVJGUVCVWUFCVC OGPWKPUGEVKQP5VCVWUFCVC OGPWVQEJGEMVJG RTQVGEVKQPHWPEVKQPU
6JGPWODGTQHRTQITCOOGFUVCTVU 9CKVHQTVJGVKOGTVQGZRKTG RGTJQWTQTFC[JCUDGGP GZEGGFGF 5GGUGEVKQP4GIWNCVKQPUGVVKPIU
%QPFKVKQP
(CWNV
4GOGF[
.'& KUNKVWRQTHNCUJKPI
%QPUWNVUGEVKQPU%QPVTQN RCPGNCPF5VCVWUFCVCOGPW
)GPGTCN
+PUVTWEVKQPOCPWCN
%QPFKVKQP
(CWNV
4GOGF[
#KTVGORGTCVWTGCDQXG PQTOCN
+PNGVVGORGTCVWTGVQQJKIJFWGVQ DCFTQQOXGPVKNCVKQPQT TGEKTEWNCVKQPQHEQQNKPICKT
+ORTQXGXGPVKNCVKQPQH EQORTGUUQTTQQO
+PUWHHKEKGPVEQQNKPIYCVGTHNQY
%JGEMCPFKPETGCUGEQQNKPI YCVGTHNQY
+PUWHHKEKGPVEQQNKPIQTTGUVTKEVKQPKP %QPUWNV#VNCU%QREQ EQQNKPIYCVGTU[UVGOFWGVQ HQTOCVKQPQHUECNGQTFKTV RTGEKRKVCVKQP
%QPFKVKQP
(CWNV
4GOGF[
'ZEGUUKXGXKDTCVKQPCPF PQKUG
7PUVCDNGQRGTCVKQPQHFTKXGOQVQT
*CXGXKDTCVKQPNGXGN OGCUWTGFCPFOQVQT KPURGEVGF%QPUWNV#VNCU %QREQ
#NKIPOGPVCNVGTGF
*CXGEQORTGUUQTOQVQTTG CNKIPGF%QPUWNV#VNCU%QREQ
(QTOCVKQPQHEQMGQPVJGDGCTKPIU
*CXGDGCTKPIUKPURGEVGFD[ #VNCU%QREQ
%QPFKVKQP
(CWNV
4GOGF[
5WTIGRTQDNGOU
%QPUWNV#VNCU%QREQ
+PUVTWEVKQPOCPWCN
2TKPEKRCNFCVC
4GCFKPIUQPFKURNC[
+ORQTVCPV 6JGTGCFKPIUDGNQYCTGXCNKFYJGPQRGTCVKPICVPQOKPCNYQTMKPIRTGUUWTGDCT
RUKICDUQNWVGKPNGVRTGUUWTGu% u(CKTKPNGVVGORGTCVWTGCPFu%
u(YCVGTKPNGVVGORGTCVWTG 4GCFKPIU 4GHGTGPEG
7PKV
4GCFKPI
1WVNGVRTGUUWTG
DCT G RUKI
UGGUGEVKQP %QORTGUUQTFCVC
5GVRQKPVRTGUUWTG
DCT G RUKI
UGGUGEVKQP %QORTGUUQTFCVC
1KNRTGUUWTGIGCTDQZ
DCT G RUKI
#RRTQZ #RRTQZ
1WVNGVRTGUUWTGEQORTGUUQTGNGOGPV
DCT G RUKI
5NKIJVN[CDQXGQWVNGV RTGUUWTG
&2CKTHKNVGT
DCT G RUKI
$GNQY $GNQY
&2QKNHKNVGT
DCT G RUKI
$GNQY $GNQY
1KNVGORGTCVWTGTGUGTXQKT
u% u(
#RRTQZ #RRTQZ
1KNVGORGTCVWTGIGCTDQZ
u% u(
#RRTQZ #RRTQZ
+PNGVVGORGTCVWTGEQORTGUUQTGNGOGPV
u% u(
5WOQHEQQNKPIYCVGT KPNGVCPFEQQNGT CRRTQCEJ VGORGTCVWTGU
+PNGVVGORGTCVWTGEQORTGUUQTGNGOGPV
u% u(
5WOQHEQQNKPIYCVGT KPNGVCPFEQQNGT CRRTQCEJ VGORGTCVWTGU
#HVGTEQQNGTQWVNGVVGORGTCVWTG
u% u(
5WOQHEQQNKPIYCVGT KPNGVCPFEQQNGT CRRTQCEJ VGORGTCVWTGU
#RRTQCEJVGORGTCVWTGKPVGTEQQNGTU
u% u(
DGNQY DGNQY
#RRTQCEJVGORGTCVWTGCHVGTEQQNGT
u% u(
DGNQY DGNQY
%QQNKPIYCVGTKPNGVVGORGTCVWTG
u% u(
DGNQY DGNQY
+PUVTWEVKQPOCPWCN
4GHGTGPEG
7PKV
4GCFKPI
&TKXGOQVQTEQQNKPICKTKPNGVVGORGTCVWTG
u% u(
DGNQY DGNQY
&TKXGOQVQTEWTTGPV
#
&GRGPFUQPOQVQT V[RG
8KDTCVKQPNGXGNEQORTGUUQTGNGOGPV
OKETQOGVGT
VQ
8KDTCVKQPNGXGNEQORTGUUQTGNGOGPV
OKETQOGVGT
VQ
8KDTCVKQPNGXGNEQORTGUUQTGNGOGPV
OKETQOGVGT
VQ
2TQITCOOCDNGUGVVKPIU
5GVVKPIU #PWODGTQHTGIWNCVKQPUGVVKPIURTQVGEVKQPUGVVKPIUCPFUGTXKEGUGVVKPIUCTGRTQITCOOCDNG
1XGTNQCFTGNC[U
5GVVKPIUHQT'NGMVTQPKMQPEQPVTQNNGFEQORTGUUQTU 5WRRN[ XQNVCIG
(TGSWGPE[ #RRTQXCN
#WZKNKCT[QKNRWOR (
1KNFGOKUVGTHCP (
1KNJGCVGT( (C
8
*\
#
#
#
+'%
+'%
+'%
%5#7.
%5#7.
%5#7.
%5#7.
(WUGUCPFECDNGUK\G
4GOCTMU .QECNTGIWNCVKQPUTGOCKPCRRNKECDNGKHVJG[CTGUVTKEVGTVJCPVJGXCNWGURTQRQUGF DGNQY 6JGXQNVCIGFTQROWUVPQVGZEGGFQHVJGPQOKPCNXQNVCIG+VOC[DGPGEGUUCT[ VQWUGECDNGUYKVJCNCTIGTUK\GVJCPVJQUGUVCVGFVQEQORN[YKVJVJKUTGSWKTGOGPV
+PUVTWEVKQPOCPWCN
(QTOGFKWOXQNVCIGKPUVCNNCVKQPU .QYXQNVCIG (TGSWGPE[ UWRRN[
#RRTQXCN
5WRRN[ECDNGUHQTNQYXQNVCIGUWRRN[ (WUGUHQTNQYXQNVCIG UWRRN[I.I)
8
*\
#
+'%
ZOO OO
+'%
ZOO OO
+'%
ZOO OO
0QVG 6JGUK\GKUXCNKFHQTECDNG28%u% u(CVCPCODKGPVVGORGTCVWTGQHu%
u%CEEQTFKPIVQ+'%
.QYXQNVCIG (TGSWGPE[ UWRRN[
#RRTQXCN
5WRRN[ECDNGUHQTNQYXQNVCIGUWRRN[ (WUGUHQTNQYXQNVCIG UWRRN[%5#*4%7. %NCUU-
8
*\
#
%5#7.
Z#9) #9)
%5#7.
Z#9) #9)
%5#7.
Z#9) #9)
%5#7.
Z#9) #9)
0QVG 6JGUK\GKUXCNKFHQTECDNGu% u(CVCPCODKGPVVGORGTCVWTGQHu% u(
/QVQTV[RGU
/GFKWOXQNVCIG (QT<*VJTGGUVCIGEQORTGUUQTU /QVQT+2
/QVQTV[RG
$GCTKPIV[RG
M9M8
.#
5NGGXGDGCTKPIU
M9M8
.#
5NGGXGDGCTKPIU
M9M8
.#
5NGGXGDGCTKPIU
M9M8
.#
5NGGXGDGCTKPIU
M9M8
.#
5NGGXGDGCTKPIU
M9M8
.#
5NGGXGDGCTKPIU
+PUVTWEVKQPOCPWCN
/QVQT+2
/QVQTV[RG
$GCTKPIV[RG
JRM8
.#
5NGGXGDGCTKPIU
JRM8
.#
5NGGXGDGCTKPIU
JRM8
.#
5NGGXGDGCTKPIU
JRM8
.#
5NGGXGDGCTKPIU
JRM8
.#
5NGGXGDGCTKPIU
/QVQT+2
/QVQTV[RG
$GCTKPIV[RG
M9M8
4#
4QNNGTDGCTKPIU QRVKQPCNUNGGXGDGCTKPIU
M9M8
4#
4QNNGTDGCTKPIU QRVKQPCNUNGGXGDGCTKPIU
M9M8
4#
5NGGXGDGCTKPIU
M9M8
4#
5NGGXGDGCTKPIU
M9M8
4#
5NGGXGDGCTKPIU
M9M8
4#
5NGGXGDGCTKPIU
JRM8
4#
5NGGXGDGCTKPIU
JRM8
4#
5NGGXGDGCTKPIU
JRM8
4#
5NGGXGDGCTKPIU
JRM8
4#
5NGGXGDGCTKPIU
JRM8
4#
5NGGXGDGCTKPIU
&GUKIPEQPFKVKQPU
%QPFKVKQPU
#DUQNWVGKPNGVRTGUUWTG
DCT C
#DUQNWVGKPNGVRTGUUWTG
RUK
4GNCVKXGCKTJWOKFKV[
#KTKPNGVVGORGTCVWTG
u%
#KTKPNGVVGORGTCVWTG
u(
0QOKPCNGHHGEVKXGYQTMKPIRTGUUWTG
DCT G
UGGUGEVKQP %QORTGUUQTFCVC
0QOKPCNGHHGEVKXGYQTMKPIRTGUUWTG
RUKI
UGGUGEVKQP %QORTGUUQTFCVC
%QQNKPIYCVGTKPNGVVGORGTCVWTG
u%
%QQNKPIYCVGTKPNGVVGORGTCVWTG
u(
/QVQTUJCHVURGGF*\XGTUKQPU
TOKP
/QVQTUJCHVURGGF*\XGTUKQPU
TOKP
+PUVTWEVKQPOCPWCN
.KOKVU
2TGUUWTGNKOKVCVKQPU /CZKOWOUGVRQKPVRTGUUWTG
DCT G
UGGUGEVKQP %QORTGUUQTFCVC
/CZKOWOUGVRQKPVRTGUUWTG
RUKI
UGGUGEVKQP %QORTGUUQTFCVC
/CZKOWOEQQNKPIYCVGTRTGUUWTGHQT<* DCT G CPF<*EQORTGUUQTU
/CZKOWOEQQNKPIYCVGTRTGUUWTGHQT<* CPF<*EQORTGUUQTU
RUKI
/KPKOWOEQQNKPIYCVGTRTGUUWTG
DCT G
/KPKOWOEQQNKPIYCVGTRTGUUWTG
RUKI
/CZKOWOCKTKPNGVVGORGTCVWTG
u%
/CZKOWOCKTKPNGVVGORGTCVWTG
u(
/KPKOWOCKTKPNGVVGORGTCVWTG
u%
/KPKOWOCKTKPNGVVGORGTCVWTG
u(
/CZKOWOCODKGPVVGORGTCVWTG
u%
/CZKOWOCODKGPVVGORGTCVWTG
u(
/KPKOWOCODKGPVVGORGTCVWTG
u%
/KPKOWOCODKGPVVGORGTCVWTG
u(
/CZKOWOEQQNKPIYCVGTQWVNGVVGORGTCVWTG
u%
/CZKOWOEQQNKPIYCVGTQWVNGVVGORGTCVWTG
u(
/CZKOWOEQQNKPIYCVGTKPNGVVGORGTCVWTG
u%
/CZKOWOEQQNKPIYCVGTKPNGVVGORGTCVWTG
u(
6GORGTCVWTGNKOKVCVKQPU
5QWPFRTGUUWTGNGXGN
+ORQTVCPVPQVG 6JGUQWPFRTGUUWTGNGXGNKUOGCUWTGFCEEQTFKPIVQ20'74122006%WPFGT HTGGHKGNFEQPFKVKQPUCVCFKUVCPEGQHOGVTG HV9KVJCVQNGTCPEGQHF$
(QT<*VJTGGUVCIGEQORTGUUQTU 5QWPFRTGUUWTGNGXGNYKVJDQF[YQTM
F$ #
5QWPFRTGUUWTGNGXGNYKVJQWVDQF[YQTM
F$ #
+PUVTWEVKQPOCPWCN
%QORTGUUQTFCVC
5RGEKHKEFCVCHQTDCT*\EQORTGUUQTU #VFGUKIPEQPFKVKQPU %QORTGUUQT V[RG<*
<* <* <* <* <* <* DCT DCT DCT DCT DCT DCT
/CZKOWO UGVRQKPV RTGUUWTG
DCT G
/CZKOWO UGVRQKPV RTGUUWTG
RUKI
0QOKPCN YQTMKPI RTGUUWTG
DCT G
0QOKPCN YQTMKPI RTGUUWTG
RUKI
#KTQWVNGV u% VGORGTCVWTG CRRTQZ
#KTQWVNGV u( VGORGTCVWTG CRRTQZ
/QVQTRQYGT M9
/QVQTRQYGT *2
O JT %QQNKPI YCVGT EQPUWORVKQP
%QTTGURQPFK PIRTGUUWTG FTQRQXGT EQQNKPI YCVGT U[UVGO
DCT
%QTTGURQPFK PIRTGUUWTG FTQRQXGT EQQNKPI YCVGT U[UVGO
RUK
1KNECRCEKV[
N
1KNECRCEKV[
75ICN
1KNECRCEKV[
+OR ICN
1KNECRCEKV[
EWHV
+PUVTWEVKQPOCPWCN
5RGEKHKEFCVCHQTDCT*\EQORTGUUQTU #VFGUKIPEQPFKVKQPU %QORTGUUQT V[RG<*
<* <* <* <* <* <* DCT DCT DCT DCT DCT DCT
/CZKOWO UGVRQKPV RTGUUWTG
DCT G
/CZKOWO UGVRQKPV RTGUUWTG
RUKI
0QOKPCN YQTMKPI RTGUUWTG
DCT G
0QOKPCN YQTMKPI RTGUUWTG
RUKI
#KTQWVNGV u% VGORGTCVWTG CRRTQZ
#KTQWVNGV u( VGORGTCVWTG CRRTQZ
/QVQTRQYGT M9
/QVQTRQYGT *2
%QQNKPI YCVGT EQPUWORVKQP
OJT
%QTTGURQPFK PIRTGUUWTG FTQRQXGT EQQNKPI YCVGT U[UVGO
DCT
%QTTGURQPFK PIRTGUUWTG FTQRQXGT EQQNKPI YCVGT U[UVGO
RUK
1KNECRCEKV[
N
1KNECRCEKV[
75ICN
1KNECRCEKV[
+OR ICN
1KNECRCEKV[
EWHV
+PUVTWEVKQPOCPWCN
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ZH 15000 Three-stage, ZH 9000 Three-stage
Instruction Book
What sets Atlas Copco apart as a company is our conviction that we can only excel in what we do if we provide the best possible know-how and technology to really help our customers produce, grow and succeed. There is a unique way of achieving that - we simply call it the Atlas Copco way. It builds on interaction, on long-term relationships and involvement in the customers’ process, needs and objectives. It means having the flexibility to adapt to the diverse demands of the people we cater for. It’s the commitment to our customers’ business that drives our effort towards increasing their productivity through better solutions. It starts with fully supporting existing products and continuously doing things better, but it goes much further, creating advances in technology through innovation. Not for the sake of technology, but for the sake of our customer’s bottom line and peace-of-mind. That is how Atlas Copco will strive to remain the first choice, to succeed in attracting new business and to maintain our position as the industry leader.