DEATH SENTENCES AND
EXECUTIONS 2012

Amnesty International is a global movement of more than 3 million supporters,
members and activists in more than 150 countries and territories who campaign
to end grave abuses of human rights.
Our vision is for every person to enjoy all the rights enshrined in the Universal
Declaration of Human Rights and other international human rights standards.
We are independent of any government, political ideology, economic interest or
religion and are funded mainly by our membership and public donations.

Amnesty International Publications
First published in 2013 by
Amnesty International Publications
International Secretariat
Peter Benenson House
1 Easton Street
London WC1X 0DW
United Kingdom
www.amnesty.org
© Amnesty International Publications 2013
Index: ACT 50/001/2013
Original language: English
Printed by Amnesty International,
International Secretariat, United Kingdom
All rights reserved. This publication is copyright, but
may be reproduced by any method without fee for advocacy,
campaigning and teaching purposes, but not for resale.
The copyright holders request that all such use be registered
with them for impact assessment purposes. For copying in
any other circumstances, or for re-use in other publications,
or for translation or adaptation, prior written permission must
be obtained from the publishers, and a fee may be payable.
Front and back page images: A Belarusian death certificate
stating that a 26-year-old man died on 15 March 2012, and that
this was entered on 20 March as the third entry into the
official register. As cause of death, it states “no information
provided”. The man had been executed by shooting.
© Amnesty International

%106'065
+0641&7%6+10
6*' 75' 1( 6*' &'#6* 2'0#.6; +0
).1$#. (+)74'5
4')+10#. 18'48+'95
#/'4+%#5
#5+# 2#%+(+%
'7412' #0& %'064#. #5+#
/+&&.' '#56 #0& 0146* #(4+%#
57$ 5#*#4#0 #(4+%#
#00': + &'#6* 5'06'0%'5 #0& ':'%76+105 +0
4'2146'& ':'%76+105 +0
4'2146'& &'#6* 5'06'0%'5 +0
#00': ++ #$1.+6+10+56 #0& 4'6'06+10+56 %17064+'5 #5 1(

#00': +++ 4#6+(+%#6+10 1( +06'40#6+10#. 64'#6+'5 #5 1(

&'%'/$'4

&'%'/$'4

#00': +8 816+0) 4'57.65 1( 70 )'0'4#. #55'/$.; 4'51.76+10
#&126'& 10
&'%'/$'4
'0&016'5

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

0QVG QP #OPGUV[ +PVGTPCVKQPCN HKIWTGU QP VJG WUG QH VJG FGCVJ RGPCNV[
6JKU TGRQTV EQXGTU VJG LWFKEKCN WUG QH VJG FGCVJ RGPCNV[ HQT VJG RGTKQF ,CPWCT[ VQ &GEGODGT
#OPGUV[ +PVGTPCVKQPCN TGEQTFU HKIWTGU QP VJG WUG QH VJG FGCVJ RGPCNV[ DCUGF QP VJG
DGUV CXCKNCDNG KPHQTOCVKQP #U KP RTGXKQWU [GCTU KPHQTOCVKQP KU EQNNGEVGF HTQO C XCTKGV[ QH
UQWTEGU KPENWFKPI QHHKEKCN HKIWTGU KPHQTOCVKQP HTQO KPFKXKFWCNU UGPVGPEGF VQ FGCVJ CPF VJGKT
HCOKNKGU CPF TGRTGUGPVCVKXGU TGRQTVKPI D[ QVJGT EKXKN UQEKGV[ QTICPK\CVKQPU CPF OGFKC TGRQTVU
#OPGUV[ +PVGTPCVKQPCN QPN[ TGRQTVU HKIWTGU QP VJG WUG QH VJG FGCVJ RGPCNV[ YJKEJ ECP UCHGN[
DG KPHGTTGF HTQO KVU TGUGCTEJ
+P UQOG EQWPVTKGU KV KU PQV RQUUKDNG VQ QDVCKP RTGEKUG FCVC CU IQXGTPOGPVU FQ PQV OCMG
CXCKNCDNG HKIWTGU HQT FGCVJ UGPVGPEGU CPF GZGEWVKQPU YJKNG QVJGTU CEVKXGN[ EQPEGCN FGCVJ
RGPCNV[ RTQEGGFKPIU 6JKU RTQDNGO KU EQORQWPFGF KP EQWPVTKGU CHHGEVGF D[ EQPHNKEV YJGTG KV
OC[ PQV DG RQUUKDNG VQ QDVCKP UWHHKEKGPV KPHQTOCVKQP VQ EQPHKTO YJGVJGT CP[ GZGEWVKQPU JCXG
VCMGP RNCEG
5KPEG
#OPGUV[ +PVGTPCVKQPCN JCU UVQRRGF RWDNKUJKPI GUVKOCVGU QP VJG WUG QH VJG FGCVJ
RGPCNV[ KP %JKPC YJGTG FCVC QP VJG WUG QH VJG FGCVJ RGPCNV[ KU EQPUKFGTGF C UVCVG UGETGV 6JG
NCEM QH TGNKCDNG FCVC FQGU PQV CNNQY #OPGUV[ +PVGTPCVKQPCN VQ RWDNKUJ ETGFKDNG OKPKOWO
HKIWTGU HQT VJG WUG QH VJG FGCVJ RGPCNV[ KP VJG EQWPVT[ JQYGXGT CXCKNCDNG KPHQTOCVKQP UVTQPIN[
KPFKECVGU VJCV %JKPC ECTTKGU QWV OQTG GZGEWVKQPU VJCP VJG TGUV QH VJG YQTNF RWV VQIGVJGT
6JG INQDCN HKIWTGU KP VJKU TGRQTV TGRTGUGPV OKPKOWO HKIWTGU OGCPKPI VJCV VJG PWODGT QH
GZGEWVKQPU PGY FGCVJ UGPVGPEGU CPF RGQRNG WPFGT UGPVGPEG QH FGCVJ KU NKMGN[ VQ DG JKIJGT
6JG PWODGT QH EQWPVTKGU ECTT[KPI QWV GZGEWVKQPU CPF KORQUKPI FGCVJ UGPVGPEGU OC[ CNUQ DG
JKIJGT 9JGTG #OPGUV[ +PVGTPCVKQPCN TGEGKXGU CPF KU CDNG VQ XGTKH[ PGY KPHQTOCVKQP CHVGT
RWDNKECVKQP QH VJKU TGRQTV VJG QTICPK\CVKQP YKNN WRFCVG KVU HKIWTGU QPNKPG CV
YYY COPGUV[ QTI FGCVJRGPCNV[
9JGTG p q CRRGCTU CHVGT C HKIWTG PGZV VQ VJG PCOG QH C EQWPVT[ s HQT KPUVCPEG ;GOGP
s
KV OGCPU VJCV VJKU KU VJG OKPKOWO HKIWTG ECNEWNCVGF D[ #OPGUV[ +PVGTPCVKQPCN 9JGTG p q
CRRGCTU CHVGT C EQWPVT[ YKVJQWV C HKIWTG s HQT KPUVCPEG FGCVJ UGPVGPEGU KP #HIJCPKUVCP
s
KV OGCPU VJCV VJGTG YGTG GZGEWVKQPU QT FGCVJ UGPVGPEGU OQTG VJCP QPG KP VJCV EQWPVT[ DWV
PQV UWHHKEKGPV KPHQTOCVKQP VQ RTQXKFG C TGRTGUGPVCVKXG HKIWTG 9JGP ECNEWNCVKPI INQDCN CPF
TGIKQPCN VQVCNU p q JCU DGGP EQWPVGF CU

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

+0641&7%6+10
pe'XGT[ JWOCP NKHG KU RTGEKQWUe KV KU PQV LWUV
CDQWV QWT ETKOKPCN LWUVKEG U[UVGO YJKEJ YG CNUQ
YCPV VQ DG RTQRQTVKQPCVG CPF TGUVQTCVKXG KV KU
CDQWV VJG V[RG QH UQEKGV[ VJCV YG YCPV VQ DWKNF s C
UQEKGV[ VJCV XCNWGU GXGT[ RGTUQP CPF QPG VJCV
FQGUPoV IKXG WR QP KVU RGQRNG q
5KPICRQTG /2 .CWTGPEG .KGP KP 0QXGODGT

#OPGUV[ +PVGTPCVKQPCN QRRQUGU VJG FGCVJ RGPCNV[ KP CNN ECUGU YKVJQWV GZEGRVKQP TGICTFNGUU QH
VJG PCVWTG QH VJG ETKOG VJG EJCTCEVGTKUVKEU QH VJG QHHGPFGT QT VJG OGVJQF WUGF D[ VJG UVCVG
VQ MKNN VJG RTKUQPGT 6JG QTICPK\CVKQP ECORCKIPU HQT VQVCN CDQNKVKQP QH ECRKVCN RWPKUJOGPV
2TQRQPGPVU RWV HQTYCTF C PWODGT QH CTIWOGPVU HQT TGVCKPKPI VJG FGCVJ RGPCNV[ KPENWFKPI VJCV
KV KU PGEGUUCT[ HQT CP GHHGEVKXG ETKOKPCN LWUVKEG U[UVGO *QYGXGT VJGUG CTIWOGPVU FQ PQV
UVCPF WR VQ UETWVKP[
1PG QHVGP EKVGF CTIWOGPV KU VJCV VJG FGCVJ RGPCNV[ CEVU CU C FGVGTTGPV VQ UGTKQWU ETKOGU +P
TGCNKV[ VJGTG KU PQ GXKFGPEG VJCV VJG FGCVJ RGPCNV[ KU C UVTQPIGT FGVGTTGPV CICKPUV ETKOG VJCP
EWUVQFKCN UGPVGPEGU
6JG 0CVKQPCN 4GUGCTEJ %QWPEKN QH VJG 0CVKQPCN #ECFGOKGU KP VJG 75# EQPHKTOGF KP KVU #RTKN
TGRQTV VJCV pTGUGCTEJ VQ FCVG QP VJG GHHGEV QH ECRKVCN RWPKUJOGPV QP JQOKEKFG KU PQV
KPHQTOCVKXG CDQWV YJGVJGT ECRKVCN RWPKUJOGPV FGETGCUGU KPETGCUGU QT JCU PQ GHHGEV QP
JQOKEKFG TCVGU 6JGTGHQTG VJG EQOOKVVGG TGEQOOGPFU VJCV VJGUG UVWFKGU PQV DG WUGF VQ
KPHQTO FGNKDGTCVKQPU e CDQWV VJG GHHGEV QH VJG FGCVJ RGPCNV[ QP JQOKEKFG q
(NQTKFC UGPKQT LWFIG %JCTNGU / *CTTKU UCKF KP #RTKN p+H VJG FGCVJ RGPCNV[ KU PQV C FGVGTTGPV
CPF KV KU PQV CPF KH VJG FGCVJ RGPCNV[ FQGU PQV OCMG WU UCHGT CPF KV FQGU PQV VJGP KV KU QPN[
JKIJ EQUV TGXGPIG q
0QV QPN[ KU VJGTG C EQPURKEWQWU CDUGPEG QH GXKFGPEG VJCV ECRKVCN RWPKUJOGPV KU C WPKSWGN[
GHHGEVKXG FGVGTTGPV VJGTG CTG CNUQ FKUVWTDKPI GZCORNGU QH KV DGKPI WUGF HQT RQNKVKECN GPFU #

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

PWODGT QH GZGEWVKQPU ECTTKGF QWV KP
CRRGCTGF VQ DG RQRWNKUV OGCUWTGU WUGF D[ UQOG
RQNKVKEKCPU VQ UJQY VJG[ CTG VQWIJ QP ETKOG QT VQ UKNGPEG FKUUGPV
+P +TCP HQWT RGQRNG YGTG GZGEWVGF KP ,WPG HQT VJG pQHHGPEGq QH pGPOKV[ CICKPUV )QF CPF
EQTTWRVKQP QP GCTVJq (KXG QVJGTU YGTG UGPVGPEGF VQ FGCVJ KP ,WN[ CNN KP EQPPGEVKQP YKVJ CPVK
IQXGTPOGPV RTQVGUVU D[ +TCPoU #JYC\K #TCD OKPQTKV[ +P 5WFCP VJG CWVJQTKVKGU WUG VJG FGCVJ
RGPCNV[ CU C VQQN CICKPUV TGCN QT RGTEGKXGF QRRQUKVKQP CEVKXKUVU
6JG FGCVJ RGPCNV[ CNUQ EQPVKPWGU VQ DG WUGF HQT ETKOGU UWEJ CU pCFWNVGT[q pCRQUVCU[q CPF
UGZWCN TGNCVKQPU DGVYGGP EQPUGPVKPI CFWNVU CNN CEVU YJKEJ FQ PQV OGGV VJG KPVGTPCVKQPCN
UVCPFCTF QH pOQUV UGTKQWU ETKOGUq DWV YJKEJ UJQWNF CNUQ PQV DG EQPUKFGTGF ETKOGU CV CNN
6JG EQWPVTKGU VJCV GZGEWVG VJG OQUV CTG CNUQ QPGU YJGTG UGTKQWU EQPEGTPU GZKUV CDQWV VJG
HCKTPGUU QH VJG LWUVKEG U[UVGO UWEJ CU KP %JKPC YJGTG OQTG RGQRNG CTG GZGEWVGF VJCP
CP[YJGTG GNUG KP VJG YQTNF
+P +TCP OCP[ FGCVJ UGPVGPEGU CTG JCPFGF FQYP HQNNQYKPI EQPXKEVKQPU DCUGF QP
pEQPHGUUKQPUq QDVCKPGF WPFGT VQTVWTG 6JG UKVWCVKQP KU UKOKNCT KP +TCS YJGTG FGHGPFCPVU JCXG
FGUETKDGF DGKPI DGCVGP YKVJ ECDNGU UWURGPFGF D[ VJGKT CTOU CPF UWDLGEVGF VQ GNGEVTKE
UJQEMU
+P 5CWFK #TCDKC FGHGPFCPVU CTG TCTGN[ CNNQYGF HQTOCN TGRTGUGPVCVKQP D[ C NCY[GT CPF ECP DG
JGNF KPEQOOWPKECFQ s VJCV KU YKVJQWV CEEGUU VQ RGQRNG QWVUKFG VJGKT RNCEG QH FGVGPVKQP s HQT
YGGMU CV C VKOG CPF EQPXKEVGF UQNGN[ QP VJG DCUKU QH pEQPHGUUKQPUq QDVCKPGF WPFGT FWTGUU
+P VJG 75# EQPEGTPU CDQWV VJG FKUETKOKPCVQT[ CRRNKECVKQP QH VJG FGCVJ RGPCNV[ CPF CDQWV VJG
RQUUKDKNKV[ QH GZGEWVKPI KPFKXKFWCNU YJQ JCXG DGGP YTQPIN[ EQPXKEVGF JCXG EQPVTKDWVGF VQ C
URCVG QH CDQNKVKQPU D[ KPFKXKFWCN UVCVGU
+P OCP[ EQWPVTKGU VJCV WUG VJG FGCVJ RGPCNV[ UKOKNCT UGTKQWU HNCYU KP VJG CFOKPKUVTCVKQP QH
LWUVKEG UJQY KP CPF QH VJGOUGNXGU VJCV VJG FGCVJ RGPCNV[ ECPPQV DG FGHGPFGF *QYGXGT
GXGP KH C LWUVKEG U[UVGO YGTG KPHCNNKDNG PQ RGTUQP UJQWNF DG GZGEWVGF QT JCXG VQ NKXG WPFGT
UGPVGPEG QH FGCVJ 6JG FGCVJ RGPCNV[ KU VJG RTGOGFKVCVGF LWFKEKCNN[ UCPEVKQPGF MKNNKPI D[ VJG
UVCVG QH C JWOCP DGKPI +V KU VJG WNVKOCVG FGPKCN QH JWOCP TKIJVU 6JG WUG QH UWEJ ECNEWNCVGF
XKQNGPEG KP VJG PCOG QH LWUVKEG UVCKPU CP[ LWUVKEG U[UVGO
#PQVJGT WPFGTN[KPI CUUWORVKQP QH UWRRQTVGTU QH VJG FGCVJ RGPCNV[ s VJCV KV KU PGEGUUCT[ VQ
FGCN YKVJ VJTGCVU VQ UQEKGV[ s KU UKOKNCTN[ WPVGPCDNG $[ FGHKPKVKQP C RGTUQP WPFGT UGPVGPEG QH
FGCVJ KU PQ NQPIGT CP KOOGFKCVG VJTGCV DGECWUG JG QT UJG KU CNTGCF[ KORTKUQPGF CPF VJGTGHQTG
TGOQXGF HTQO UQEKGV[
/CP[ TGVGPVKQPKUV IQXGTPOGPVU ENCKO VJCV VJG RWDNKE UWRRQTVU VJG FGCVJ RGPCNV[ CPF VJCV
VJGTGHQTG KV UJQWNF DG OCKPVCKPGF )QXGTPOGPVU JCXG C TGURQPUKDKNKV[ VQ RTQXKFG QDLGEVKXG
KPHQTOCVKQP VQ VJG RWDNKE QP KUUWGU VJCV CHHGEV JWOCP TKIJVU KPENWFKPI VJG FGCVJ RGPCNV[
7NVKOCVGN[ JQYGXGT VJG RWTRQUG QH PCVKQPCN CPF KPVGTPCVKQPCN JWOCP TKIJVU HTCOGYQTMU KU VQ
RTQVGEV VJG TKIJVU QH VJG KPFKXKFWCN UQOGVKOGU KP URKVG QH VJG XKGYU QH VJG OCLQTKV[

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

6JG YQTNFoU LQWTPG[ VQYCTFU CDQNKVKQP QH VJG FGCVJ RGPCNV[ KU EQPVKPWKPI /CP[ RQNKVKECN CPF
LWFKEKCN HKIWTGU KP UGXGTCN EQWPVTKGU VJCV UVKNN CRRN[ VJG FGCVJ RGPCNV[ JCXG EQOG VQ VJG XKGY
VJCV VJG FGCVJ RGPCNV[ FQGU PQV UGTXG VJG RWTRQUG HQT YJKEJ KV YCU KPVGPFGF CPF CTG PQY
CFXQECVKPI KVU CDQNKVKQP
6JG
HKIWTGU QP VJG WUG QH VJG FGCVJ RGPCNV[ EQPHKTO VJCV VJG QXGTCNN VTGPF INQDCNN[ KU
VQYCTFU CDQNKVKQP QPN[ QPG KP
EQWPVTKGU YQTNFYKFG ECTTKGF QWV FGCVJ UGPVGPEGU *QYGXGT
CNUQ UCY UGVDCEMU VJG TGUWORVKQP QH GZGEWVKQPU GURGEKCNN[ KP )CODKC +PFKC ,CRCP
CPF 2CMKUVCP CU YGNN CU VJG CNCTOKPI TKUG KP TGRQTVGF GZGEWVKQPU KP +TCS EQORCTGF VQ
CTG QH ITCXG EQPEGTP
9JKNG CV NGCUV
RGQRNG YGTG GZGEWVGF KP
s KP
VJG PWODGT QH RGQRNG TGEQTFGF CU UGPVGPEGF VQ FGCVJ HGNN HTQO
VQ
KP
EQWPVTKGU KP

#OPGUV[ +PVGTPCVKQPCN #RTKN

GZGEWVKQPU YGTG TGEQTFGF s
KP
EQWPVTKGU KP

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

6*' 75' 1( 6*' &'#6* 2'0#.6; +0

p1XGT VJG RCUV HGY FGECFGU VJG DCNCPEG JCU
UJKHVGF DGVYGGP C UWDUVCPVKCN OCLQTKV[ QH 5VCVGU
VJCV OCKPVCKPGF VJG FGCVJ RGPCNV[ VQ VJGUG 5VCVGU
DGEQOKPI C OKPQTKV[ (WTVJGTOQTG KV OC[ DG
PQVGF VJCV 5VCVGU VJCV JCXG CDQNKUJGF VJG FGCVJ
RGPCNV[ QT CTG OQXKPI VQYCTFU CDQNKVKQP TGRTGUGPV
FKHHGTGPV NGICN U[UVGOU VTCFKVKQPU EWNVWTGU CPF
TGNKIKQWU DCEMITQWPFU q
$CP -K OQQP 70 5GETGVCT[ )GPGTCN KP JKU ,WN[

TGRQTV VQ VJG *WOCP 4KIJVU %QWPEKN

&GXGNQROGPVU TGEQTFGF D[ #OPGUV[ +PVGTPCVKQPCN KP
FGOQPUVTCVG VJCV FGURKVG
UGVDCEMU VJG INQDCN VTGPF VQYCTFU CDQNKVKQP QH VJG FGCVJ RGPCNV[ KU EQPVKPWKPI
#OPGUV[ +PVGTPCVKQPCN TGEQTFGF GZGEWVKQPU KP
EQWPVTKGU 6JG PWODGT QH EQPHKTOGF
GZGEWVKQPU YCU
GUUGPVKCNN[ VJG UCOG CU VJG
HKIWTG QH
CNUQ KP
EQWPVTKGU
6JG HKIWTG QH
GZENWFGU VJG VJQWUCPFU QH GZGEWVKQPU ECTTKGF QWV KP %JKPC YJKEJ CEEQWPVU
HQT OQTG GZGEWVKQPU VJCP VJG TGUV QH VJG YQTNF EQODKPGF 6JTGG SWCTVGTU QH VJG EQPHKTOGF
GZGEWVKQPU YGTG TGEQTFGF KP QPN[ VJTGG EQWPVTKGU +TCP +TCS CPF 5CWFK #TCDKC
2TQITGUU VQYCTFU CDQNKVKQP YCU TGEQTFGF KP CNN TGIKQPU QH VJG YQTNF #NVJQWIJ VJG 75# YCU VJG
QPN[ EQWPVT[ KP VJG #OGTKECU VQ ECTT[ QWV GZGEWVKQPU KP
QPN[ PKPG QH KVU UVCVGU FKF UQ
EQORCTGF VQ
UVCVGU KP
%QPPGEVKEWV DGECOG VJG
VJ CDQNKVKQPKUV 75 UVCVG KP #RTKN
1PN[
PGY FGCVJ UGPVGPEGU YGTG KORQUGF GNUGYJGTG KP VJG #OGTKECU
4GVTQITCFG FGXGNQROGPVU KP 5QWVJ #UKC KPENWFKPI VJG TGUWORVKQP QH GZGEWVKQPU KP UQOG
EQWPVTKGU DWEMGF #UKC 2CEKHKEoU QXGTCNN VTGPF VQYCTFU CDQNKVKQP 8KGV 0CO FKF PQV KORNGOGPV
FGCVJ UGPVGPEGU NCUV [GCT CPF 5KPICRQTG QDUGTXGF C OQTCVQTKWO QP GZGEWVKQPU YJKNG
EQPUKFGTKPI NGIKUNCVKXG COGPFOGPVU VQ KVU FGCVJ RGPCNV[ NCYU

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

+P UWD 5CJCTCP #HTKEC HWTVJGT RTQITGUU VQYCTFU CDQNKVKQP YCU TGEQTFGF $GPKP VQQM NGIKUNCVKXG
UVGRU VQ TGOQXG TGNGXCPV RTQXKUKQPU HTQO KVU NCYU CPF )JCPC RNCPU VQ CDQNKUJ VJG FGCVJ
RGPCNV[ KP KVU PGY %QPUVKVWVKQP 6JGTG CTG PQ OQTG RTKUQPGTU QP FGCVJ TQY KP 5KGTTC .GQPG
.GIKUNCVKQP VQ TGOQXG VJG FGCVJ RGPCNV[ HQT VJG NCUV TGOCKPKPI ETKOGU ECOG KPVQ GHHGEV KP
.CVXKC QP ,CPWCT[ OCMKPI VJG EQWPVT[ VJG
VJ EQORNGVGN[ CDQNKVKQPKUV EQWPVT[ KP VJG
YQTNF

6*' ).1$#. 64'0& 619#4&5 #$1.+6+10 +0
„

6JG 75# KU VJG QPN[ EQWPVT[ VQ JCXG ECTTKGF QWV GZGEWVKQPU KP VJG #OGTKECU

„

$GNCTWU KU VJG QPN[ EQWPVT[ VQ JCXG GZGEWVGF KP 'WTQRG CPF %GPVTCN #UKC

„
6JG 75# CPF $GNCTWU YGTG VJG QPN[ VYQ QH VJG
QRGTCVKQP KP 'WTQRG VQ JCXG ECTTKGF QWV GZGEWVKQPU

OGODGT UVCVGU QH VJG 1TICPK\CVKQP HQT 5GEWTKV[ CPF %Q

„
(KXG QH VJG OGODGT UVCVGU QH VJG #HTKECP 7PKQP YGTG MPQYP VQ JCXG ECTTKGF QWV LWFKEKCN GZGEWVKQPU
$QVUYCPC )CODKC 5QOCNKC 5QWVJ 5WFCP CPF 5WFCP 6JKTV[ UGXGP OGODGT UVCVGU CTG CDQNKVKQPKUV KP NCY QT
RTCEVKEG
„
5GXGP QH
OGODGT UVCVGU QH VJG .GCIWG QH #TCD 5VCVGU ECTTKGF QWV EQPHKTOGF GZGEWVKQPU +TCS
2CNGUVKPG 5CWFK #TCDKC 5QOCNKC 5WFCP VJG 7PKVGF #TCD 'OKTCVGU 7#' CPF ;GOGP 6JGTG YGTG TGRQTVU QH
GZGEWVKQPU KP 5[TKC DWV KV YCU PQV RQUUKDNG VQ XGTKH[ VJGO FWG VQ VJG EWTTGPV EQPHNKEV

„

0Q GZGEWVKQPU YGTG TGEQTFGF KP VJG

OGODGT UVCVGU QH VJG #UUQEKCVKQP QH 5QWVJGCUV #UKCP 0CVKQPU

„
(KXG QH VJG OGODGT UVCVGU QH VJG %QOOQPYGCNVJ YGTG MPQYP VQ JCXG ECTTKGF QWV GZGEWVKQPU
$CPINCFGUJ $QVUYCPC )CODKC +PFKC CPF 2CMKUVCP

„
„

,CRCP CPF VJG 75# YGTG VJG QPN[ EQWPVTKGU KP VJG ) VQ JCXG ECTTKGF QWV GZGEWVKQPU
QH VJG

OGODGT UVCVGU QH VJG 7PKVGF 0CVKQPU YGTG GZGEWVKQP HTGG KP

1P
,CPWCT[ VJG &QOKPKECP 4GRWDNKE FGRQUKVGF VJG KPUVTWOGPV QH TCVKHKECVKQP QH VJG
2TQVQEQN VQ VJG #OGTKECP %QPXGPVKQP QP *WOCP 4KIJVU VQ #DQNKUJ VJG &GCVJ 2GPCNV[ YKVJ VJG
1TICPK\CVKQP QH #OGTKECP 5VCVGU /QPIQNKC CPF $GPKP CEEGFGF VQ VJG 5GEQPF 1RVKQPCN
2TQVQEQN VQ VJG +PVGTPCVKQPCN %QXGPCPV QP %KXKN CPF 2QNKVKECN 4KIJVU +%%24 CKOKPI CV VJG
CDQNKVKQP QH VJG FGCVJ RGPCNV[ QP
/CTEJ CPF ,WN[ TGURGEVKXGN[ $KNNU VQ KORNGOGPV VJG
CEEGUUKQP KPVQ PCVKQPCN NGIKUNCVKQP TGOCKPGF RGPFKPI KP DQVJ EQWPVTKGU CV VJG GPF QH VJG [GCT
/CFCICUECT UKIPGF VJG 5GEQPF 1RVKQPCN 2TQVQEQN KP 5GRVGODGT
%QOOWVCVKQPU QT RCTFQPU QH FGCVJ UGPVGPEGU YGTG TGEQTFGF KP
EQWPVTKGU #HIJCPKUVCP
$CJTCKP $CPINCFGUJ $QVUYCPC 'I[RV )CODKC )WCVGOCNC )W[CPC +PFKC +PFQPGUKC +TCP
,QTFCP -WYCKV /QPIQNKC /[CPOCT 0KIGTKC 5CKPV -KVVU CPF 0GXKU 5CWFK #TCDKC 5KGTTC
.GQPG 5KPICRQTG 6JCKNCPF 6WPKUKC 7ICPFC 7#' 75# 8KGV 0CO CPF ;GOGP
'ZQPGTCVKQPU YGTG TGEQTFGF KP UGXGP EQWPVTKGU $CPINCFGUJ 'I[RV )W[CPC +PFKC 0KIGTKC

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

6CKYCP CPF 75#
1P
&GEGODGT VJG RNGPCT[ UGUUKQP QH VJG 70 )GPGTCN #UUGODN[ 70)# CFQRVGF C HQWTVJ
TGUQNWVKQP QP C OQTCVQTKWO QP VJG WUG QH VJG FGCVJ RGPCNV[ 4GUQNWVKQP
YJKEJ YCU
CFQRVGF D[
XQVGU KP HCXQWT
CICKPUV CPF
CDUVGPVKQPU TGCHHKTOU RTGXKQWU 70)#
TGUQNWVKQPU
KP
KP
CPF
KP
+V ECNNU WRQP CNN 5VCVGU
VQ TGURGEV KPVGTPCVKQPCN UVCPFCTFU VJCV RTQXKFG UCHGIWCTFU RTQVGEVKPI VJG TKIJVU QH VJQUG
HCEKPI VJG FGCVJ RGPCNV[ RTQITGUUKXGN[ TGUVTKEV VJG WUG QH VJG FGCVJ RGPCNV[ CPF TGFWEG VJG
PWODGT QH QHHGPEGU HQT YJKEJ KV OC[ DG KORQUGF CPF VQ GUVCDNKUJ C OQTCVQTKWO QP
GZGEWVKQPU YKVJ C XKGY VQ CDQNKUJKPI VJG FGCVJ RGPCNV[ 6JG TGUQNWVKQP ECNNU QP 5VCVGU YJKEJ
JCXG CDQNKUJGF VJG FGCVJ RGPCNV[ PQV VQ TGKPVTQFWEG KV (KPCNN[ KV YKNN EQPUKFGT VJG KUUWG CICKP
VJ
UGUUKQP KP
CV YJKEJ VJG 5GETGVCT[ )GPGTCN KU GZRGEVGF VQ TGRQTV DCEM QP VJG
CV KVU
KORNGOGPVCVKQP QH VJG ECNNU KPENWFGF KP VJG
TGUQNWVKQP
0GY GNGOGPVU KP VJG
VGZV KPENWFG OQTG FGVCKNGF YQTFKPI QP YJCV KPHQTOCVKQP UVCVGU
UJQWNF OCMG CXCKNCDNG QP VJGKT WUG QH VJG FGCVJ RGPCNV[ C URGEKHKE ECNN PQV VQ KORQUG ECRKVCN
RWPKUJOGPV QP RTGIPCPV YQOGP QT VJQUG YJQ YGTG LWXGPKNGU VJCV KU CIGF WPFGT
CV VJG
VKOG QH VJG QHHGPEG CPF C ECNN VQ EQPUKFGT CEEGFKPI VQ QT TCVKH[KPI VJG 5GEQPF 1RVKQPCN
2TQVQEQN VQ VJG +%%24 CKOKPI CV VJG CDQNKVKQP QH VJG FGCVJ RGPCNV[
/QTG 70 OGODGT UVCVGU UWRRQTVGF VJG TGUQNWVKQP KP
VJCP CV VJG RTGXKQWU XQVG KP
6JG %GPVTCN #HTKECP 4GRWDNKE %JCF 5G[EJGNNGU 5KGTTC .GQPG 5QWVJ 5WFCP CPF 6WPKUKC
EJCPIGF VJGKT RTGXKQWU XQVGU CPF UWRRQTVGF VJG ECNN HQT C OQTCVQTKWO QP VJG WUG QH VJG FGCVJ
RGPCNV[ +P C HWTVJGT UKIP QH RTQITGUU +PFQPGUKC CPF 2CRWC 0GY )WKPGC OQXGF HTQO
QRRQUKVKQP VQ VJG OQTCVQTKWO KP
VQ CDUVGPVKQP KP
(QT VJG HKTUV VKOG /QPIQNKC
5COQC CPF 5QOCNKC LQKPGF CU EQ URQPUQTU TGHNGEVKPI VJG ETQUU TGIKQPCN UWRRQTV HQT GPFKPI
WUG QH ECRKVCN RWPKUJOGPV *QYGXGT $CJTCKP &QOKPKEC CPF 1OCP EJCPIGF VJGKT CDUVGPVKQP
VQ C XQVG CICKPUV VJG TGUQNWVKQP YJKNG /CNFKXGU 0COKDKC CPF 5TK .CPMC YGPV HTQO C XQVG KP
HCXQWT VQ CP CDUVGPVKQP
4GIKQPCN KPVGTIQXGTPOGPVCN DQFKGU CNUQ EQPVKPWGF VQ UWRRQTV VJG OCTEJ VQYCTFU CDQNKVKQP QH
VJG FGCVJ RGPCNV[ +P #RTKN VJG #HTKECP %QOOKUUKQP QP *WOCP CPF 2GQRNGUo 4KIJVU RWDNKUJGF
C p5VWF[ QP VJG SWGUVKQP QH VJG FGCVJ RGPCNV[ KP #HTKECq +P #WIWUV VJG +PVGT #OGTKECP
%QOOKUUKQP QP *WOCP 4KIJVU TGNGCUGF C TGRQTV QP p6JG FGCVJ RGPCNV[ KP VJG +PVGT #OGTKECP
JWOCP TKIJVU U[UVGO HTQO TGUVTKEVKQPU VQ CDQNKVKQPq #OQPI QVJGT VJKPIU DQVJ QTICPK\CVKQPU
TGEQOOGPF VQ VJGKT TGURGEVKXG OGODGT UVCVGU VJG KORQUKVKQP QH C OQTCVQTKWO QP GZGEWVKQPU

).1$#. (+)74'5
#V NGCUV
EQWPVTKGU YGTG MPQYP VQ JCXG ECTTKGF QWV GZGEWVKQPU KP
*QYGXGT KV KU
WPENGCT KH GZGEWVKQPU YGTG ECTTKGF QWV KP EQWPVTKGU KP VWTOQKN UWEJ CU 5[TKC KP
+P
GSWCNN[
EQWPVTKGU YGTG TGRQTVGF VQ JCXG KORNGOGPVGF FGCVJ UGPVGPEGU
6JGUG HKIWTGU TGRTGUGPV C UKIPKHKECPV FGETGCUG HTQO C FGECFG CIQ KP
ECTTKGF QWV GZGEWVKQPU

+PFGZ #%6

EQWPVTKGU

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

4'2146'& ':'%76+105 +0
#HIJCPKUVCP
$CPINCFGUJ
$GNCTWU
$QVUYCPC
%JKPC
)CODKC
+PFKC
+TCP
+TCS
,CRCP
0QTVJ -QTGC
2CMKUVCP
2CNGUVKPKCP #WVJQTKV[
*COCU FG HCEVQ
CFOKPKUVTCVKQP KP )C\C 5CWFK #TCDKC
5QOCNKC
D[ VJG 6TCPUKVKQPCN (GFGTCN )QXGTPOGPV CPF
KP 2WPVNCPF 5QWVJ 5WFCP
5WFCP
6CKYCP
7PKVGF #TCD 'OKTCVGU 7#'
75#
;GOGP

#V NGCUV
GZGEWVKQPU YGTG MPQYP VQ JCXG DGGP ECTTKGF QWV YQTNFYKFG VYQ OQTG VJCP KP
*QYGXGT VJGUG HKIWTGU FQ PQV KPENWFG VJG VJQWUCPFU QH RGQRNG YJQ YGTG DGNKGXGF VQ
JCXG DGGP GZGEWVGF KP %JKPC 5KPEG KVU
TGRQTV #OPGUV[ +PVGTPCVKQPCN UVQRRGF
RWDNKUJKPI KVU GUVKOCVGU QP VJG WUG QH VJG FGCVJ RGPCNV[ KP %JKPC YJGTG UWEJ FCVC CTG
EQPUKFGTGF C UVCVG UGETGV #OPGUV[ +PVGTPCVKQPCN TGPGYU KVU EJCNNGPIG VQ VJG %JKPGUG
CWVJQTKVKGU VQ RWDNKUJ HKIWTGU HQT VJG PWODGT QH RGQRNG UGPVGPEGF VQ FGCVJ CPF GZGEWVGF GCEJ
[GCT VQ EQPHKTO VJGKT ENCKOU VJCV VJGTG JCU DGGP C UKIPKHKECPV TGFWEVKQP KP VJG WUG QH VJG
FGCVJ RGPCNV[ KP VJG EQWPVT[ UKPEG
#OPGUV[ +PVGTPCVKQPCN JCU CNUQ TGEGKXGF ETGFKDNG TGRQTVU QH C NCTIG PWODGT QH WPEQPHKTOGF
GZGEWVKQPU KP +TCP YJKEJ YQWNF UWTRCUU VJG PWODGT QH QHHKEKCNN[ CEMPQYNGFIGF GZGEWVKQPU D[
CNOQUV VJTGG SWCTVGTU
1HHKEKCN HKIWTGU QP VJG WUG QH VJG FGCVJ RGPCNV[ YGTG CXCKNCDNG QPN[ KP C UOCNN PWODGT QH
EQWPVTKGU +P $GNCTWU %JKPC /QPIQNKC CPF 8KGV 0CO FCVC QP VJG WUG QH VJG FGCVJ RGPCNV[
EQPVKPWGF VQ DG ENCUUKHKGF CU C UVCVG UGETGV .KVVNG QT PQ KPHQTOCVKQP YCU CXCKNCDNG KP UQOG
EQWPVTKGU KP RCTVKEWNCT $GNK\G 'I[RV 'TKVTGC .KD[C /CNC[UKC 0QTVJ -QTGC 5WTKPCOG CPF
5[TKC FWG VQ TGUVTKEVKXG UVCVG RTCEVKEG CPF QT RQNKVKECN KPUVCDKNKV[ +V KU RQUUKDNG VJCV LWFKEKCN
GZGEWVKQPU FKF KP HCEV VCMG RNCEG KP 5[TKC DWV PQPG EQWNF DG EQPHKTOGF HQT VJG RTGUGPV TGRQTV
#OPGUV[ +PVGTPCVKQPCN JCU TGEQTFGF GZGEWVKQPU KP 5[TKC HQT CNN QH VJG RCUV
[GCTU GZEGRV

+P $GNCTWU CPF ,CRCP RTKUQPGTU YGTG PQV KPHQTOGF QH VJGKT HQTVJEQOKPI GZGEWVKQP PQT YGTG
VJGKT HCOKNKGU QT NCY[GTU +P $GNCTWU CPF $QVUYCPC VJG DQFKGU QH VJG GZGEWVGF RTKUQPGTU YGTG
PQV TGVWTPGF VQ VJGKT HCOKNKGU HQT DWTKCN

4'2146'& &'#6* 5'06'0%'5 +0
#HIJCPKUVCP
#NIGTKC
$CJTCKP
$CPINCFGUJ
$CTDCFQU
$QVUYCPC
%JCF
%JKPC
&GOQETCVKE 4GRWDNKE QH %QPIQ
'I[RV
'SWCVQTKCN )WKPGC
)CODKC
)JCPC
)WKPGC
)W[CPC
+PFKC
+PFQPGUKC
+TCP
+TCS
,CRCP
,QTFCP
-GP[C
-WYCKV
.CQU
.GDCPQP
.KDGTKC
.KD[C
/CNFKXGU
/CNC[UKC
/CNK
/CWTKVCPKC
/QPIQNKC
/QTQEEQ 9GUVGTP 5CJCTC
/[CPOCT
0KIGTKC
0QTVJ
-QTGC
2CMKUVCP
2CNGUVKPKCP #WVJQTKV[
*COCU CWVJQTKVKGU )C\C 2# 9GUV $CPM 3CVCT
5CWFK #TCDKC
5KPICRQTG
5QOCNKC
D[ VJG 6TCPUKVKQPCN (GFGTCN )QXGTPOGPV
KP
2WPVNCPF
KP 5QOCNKNCPF 5QWVJ -QTGC
5QWVJ 5WFCP
5TK .CPMC
5WFCP
5YC\KNCPF
6CKYCP
6CP\CPKC
6JCKNCPF
6TKPKFCF CPF 6QDCIQ
6WPKUKC
7#'
75#
8KGV 0CO
;GOGP
<CODKC
<KODCDYG
#V NGCUV

RGQRNG YGTG MPQYP VQ JCXG DGGP UGPVGPEGF VQ FGCVJ KP

#OPGUV[ +PVGTPCVKQPCN #RTKN

EQWPVTKGU KP

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

6JKU KU VJG OKPKOWO HKIWTG VJCV ECP DG EQPHKTOGF D[ #OPGUV[ +PVGTPCVKQPCNoU TGUGCTEJ CPF
TGRTGUGPVU C UKIPKHKECPV FGETGCUG HTQO VJG
HKIWTG QH CV NGCUV
FGCVJ UGPVGPEGU KP
EQWPVTKGU YQTNFYKFG
#V NGCUV
RGQRNG YGTG WPFGT UGPVGPEG QH FGCVJ YQTNFYKFG CV VJG GPF QH
VJG OKPKOWO HKIWTG DCUGF QP PWODGTU #OPGUV[ +PVGTPCVKQPCN QDVCKPGF D[ EQWPVT[

YJKEJ KU

6JG HQNNQYKPI OGVJQFU QH GZGEWVKQPU YGTG WUGF DGJGCFKPI 5CWFK #TCDKC JCPIKPI
#HIJCPKUVCP $CPINCFGUJ $QVUYCPC +PFKC +TCP +TCS ,CRCP 2CMKUVCP 2CNGUVKPKCP #WVJQTKV[
*COCU CWVJQTKVKGU )C\C 5QWVJ 5WFCP 5WFCP NGVJCN KPLGEVKQP %JKPC 75# CPF UJQQVKPI
$GNCTWU %JKPC )CODKC 0QTVJ -QTGC 2CNGUVKPKCP #WVJQTKV[ *COCU CWVJQTKVKGU )C\C
5QOCNKC 6CKYCP 7#' ;GOGP
#U KP
CPF
VJGTG YGTG PQ TGRQTVU QH LWFKEKCN GZGEWVKQPU ECTTKGF QWV D[ UVQPKPI
6YQ PGY UGPVGPEGU QH FGCVJ D[ UVQPKPI YGTG JCPFGF FQYP KP 5WFCP DWV UWDUGSWGPVN[
QXGTVWTPGF 2WDNKE GZGEWVKQPU YGTG MPQYP VQ JCXG DGGP ECTTKGF QWV KP +TCP 0QTVJ -QTGC
5CWFK #TCDKC CPF 5QOCNKC
#V NGCUV VYQ RGQRNG YGTG GZGEWVGF KP ;GOGP HQT ETKOGU VJCV YGTG EQOOKVVGF YJGP VJG[ OC[
JCXG DGGP LWXGPKNGU VJG GZGEWVKQP QH RGQRNG CIGF WPFGT
YJGP VJG CNNGIGF ETKOG YCU
EQOOKVVGF KU C XKQNCVKQP QH KPVGTPCVKQPCN NCY 1HVGP VJG CEVWCN CIG QH VJG QHHGPFGT KU KP
FKURWVG KH PQ ENGCT GXKFGPEG GZKUVU UWEJ CU C EGTVKHKECVG QH TGIKUVTCVKQP CV DKTVJ #OPGUV[
+PVGTPCVKQPCN TGOCKPGF EQPEGTPGF VJCV KP +TCP 0KIGTKC 2CMKUVCP 5CWFK #TCDKC CPF ;GOGP
RGQRNG YJQ YGTG LWXGPKNGU CV VJG VKOG VJGKT CNNGIGF ETKOGU YGTG EQOOKVVGF TGOCKPGF KP
FGVGPVKQP WPFGT C UGPVGPEG QH FGCVJ

':%'4265 (41/ 70 *7/#0 4+)*65 %170%+. 4'51.76+10 10 6*' 4+)*65 1( 6*' %*+.& #&126'& 10
#24+.
=6JG *WOCP 4KIJVU %QWPEKN?
#NUQ ECNNU WRQP 5VCVGU VQ EQOOWVG KOOGFKCVGN[ UWEJ UGPVGPEGU CPF VQ GPUWTG VJCV CP[ EJKNF RTGXKQWUN[
UGPVGPEGF VQ VJG FGCVJ RGPCNV[ QT NKHG KORTKUQPOGPV YKVJQWV RQUUKDKNKV[ QH TGNGCUG KU TGOQXGF HTQO URGEKCN
RTKUQP HCEKNKVKGU GURGEKCNN[ HTQO FGCVJ TQY CPF VTCPUHGTTGF VQ TGIWNCT KPUVKVWVKQPU QH FGVGPVKQP CRRTQRTKCVG HQT
VJG CIG QH VJG QHHGPFGT CPF VJG QHHGPEG EQOOKVVGF
#NUQ WTIGU 5VCVGU VQ RTGUWOG EJKNFTGP CNNGIGF CU CEEWUGF QH QT TGEQIPK\GF CU JCXKPI KPHTKPIGF VJG
ETKOKPCN NCY VQ DG WPFGT VJG CIG QH OCLQTKV[ YJGP VJGKT CIG KU KP FQWDV WPVKN UWEJ CP CUUWORVKQP KU TGDWVVGF
D[ VJG RTQUGEWVKQP CPF VQ VTGCV VJG CEEWUGF CU C LWXGPKNG KH VJG DWTFGP KU PQV OGV
H 6Q GPUWTG VJCV EJKNFTGP YJQUG RCTGPVU QT RCTGPVCN ECTGIKXGTU CTG QP FGCVJ TQY VJG KPOCVGU VJGOUGNXGU
VJGKT HCOKNKGU CPF VJGKT NGICN TGRTGUGPVCVKXGU CTG RTQXKFGF KP CFXCPEG YKVJ CFGSWCVG KPHQTOCVKQP CDQWV C
RGPFKPI GZGEWVKQP KVU FCVG VKOG CPF NQECVKQP VQ CNNQY C NCUV XKUKV QT EQOOWPKECVKQP YKVJ VJG EQPXKEVGF
RGTUQP VJG TGVWTP QH VJG DQF[ VQ VJG HCOKN[ HQT DWTKCN QT VQ KPHQTO QP YJGTG VJG DQF[ KU NQECVGF WPNGUU VJKU KU
PQV KP VJG DGUV KPVGTGUVU QH VJG EJKNF e
#OPGUV[ +PVGTPCVKQPCN TGOCKPU EQPEGTPGF VJCV KP VJG OCLQTKV[ QH EQWPVTKGU YJGTG RGQRNG YGTG
UGPVGPEGF VQ FGCVJ QT GZGEWVGF VJG FGCVJ RGPCNV[ YCU KORQUGF CHVGT RTQEGGFKPIU VJCV FKF
PQV OGGV KPVGTPCVKQPCN HCKT VTKCN UVCPFCTFU QHVGP DCUGF QP pEQPHGUUKQPUq VJCV YGTG RQUUKDN[

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

GZVTCEVGF VJTQWIJ VQTVWTG QT QVJGT KNN VTGCVOGPV 6JKU YCU RCTVKEWNCTN[ VJG ECUG KP #HIJCPKUVCP
$GNCTWU %JKPC +TCP +TCS 0QTVJ -QTGC 5CWFK #TCDKC CPF 6CKYCP +P +TCP CPF +TCS UQOG QH
VJGUG pEQPHGUUKQPUq YGTG DTQCFECUV QP VGNGXKUKQP DGHQTG VJG VTKCN VQQM RNCEG HWTVJGT
DTGCEJKPI VJG FGHGPFCPVUo TKIJV VQ RTGUWORVKQP QH KPPQEGPEG
/CPFCVQT[ FGCVJ UGPVGPEGU EQPVKPWGF VQ DG KORQUGF KP $CTDCFQU +PFKC +TCP /CNC[UKC
/CNFKXGU 2CMKUVCP 5KPICRQTG 6JCKNCPF CPF 6TKPKFCF CPF 6QDCIQ /CPFCVQT[ FGCVJ
UGPVGPEGU CTG KPEQPUKUVGPV YKVJ JWOCP TKIJVU RTQVGEVKQPU DGECWUG VJG[ FQ PQV CNNQY CP[
RQUUKDKNKV[ QH VCMKPI KPVQ CEEQWPV VJG FGHGPFCPVoU RGTUQPCN EKTEWOUVCPEGU QT VJG
EKTEWOUVCPEGU QH VJG RCTVKEWNCT QHHGPEG
2GQRNG EQPVKPWGF VQ DG UGPVGPEGF VQ FGCVJ QT GZGEWVGF HQT ETKOGU VJCV FKF PQV KPXQNXG
KPVGPVKQPCN MKNNKPI VJGTGD[ PQV OGGVKPI VJG VJTGUJQNF QH pOQUV UGTKQWU ETKOGUq CU RTGUETKDGF
D[ #TVKENG QH VJG +%%24 6JG FGCVJ RGPCNV[ YCU MPQYP VQ JCXG DGGP WUGF HQT FTWI TGNCVGF
QHHGPEGU KP C PWODGT QH EQWPVTKGU KPENWFKPI %JKPC +PFKC +PFQPGUKC +TCP /CNC[UKC
2CMKUVCP 5CWFK #TCDKC 5KPICRQTG 6JCKNCPF 7#' CPF ;GOGP
1VJGT ETKOGU RWPKUJCDNG D[ FGCVJ YGTG pCFWNVGT[q CPF pUQFQO[q +TCP TGNKIKQWU QHHGPEGU
UWEJ CU pCRQUVCU[q +TCP CPF pDNCURJGO[q 2CMKUVCP pUQTEGT[q 5CWFK #TCDKC GEQPQOKE
ETKOGU %JKPC TCRG 5CWFK #TCDKC CPF HQTOU QH pCIITCXCVGFq TQDDGT[ 5CWFK #TCDKC -GP[C
<CODKC (KPCNN[ FKHHGTGPV HQTOU QH pVTGCUQPq pCEVU CICKPUV PCVKQPCN UGEWTKV[q CPF QVJGT
pETKOGU CICKPUV VJG UVCVGq UWEJ CU pOQJCTGDGJq s GPOKV[ CICKPUV )QF s KP +TCP YJGVJGT QT
PQV VJG[ NGF VQ C NQUU QH NKHG YGTG RWPKUJGF YKVJ FGCVJ UGPVGPEGU KP )CODKC -WYCKV
.GDCPQP 0QTVJ -QTGC 2CNGUVKPKCP #WVJQTKV[ 2# 9GUV $CPM *COCU CWVJQTKVKGU )C\C CPF
5QOCNKC +P 0QTVJ -QTGC FGCVJ UGPVGPEGU CTG QHVGP KORQUGF GXGP VJQWIJ VJG CNNGIGF ETKOG KU
PQV UWDLGEV VQ C FGCVJ UGPVGPEG WPFGT FQOGUVKE NCY
(KXG EQWPVTKGU s $QVUYCPC )CODKC +PFKC ,CRCP CPF 2CMKUVCP s TGUWOGF GZGEWVKQPU KP
6JG UEQRG QH VJG FGCVJ RGPCNV[ YCU MPQYP VQ JCXG DGGP GZRCPFGF KP EQPVTCXGPVKQP QH
KPVGTPCVKQPCN JWOCP TKIJVU UVCPFCTFU KP $CPINCFGUJ CPF -GP[C
1H EQPVKPWKPI EQPEGTP YCU VJG WUG QH VJG FGCVJ RGPCNV[ D[ OKNKVCT[ CPF URGEKCN EQWTVU CPF
VTKDWPCNU UQOGVKOGU CICKPUV EKXKNKCPU KP EQWPVTKGU UWEJ CU VJG &GOQETCVKE 4GRWDNKE QH VJG
%QPIQ &4% 'I[RV .GDCPQP 2CNGUVKPKCP #WVJQTKV[ 2# 9GUV $CPM *COCU CWVJQTKVKGU
)C\C CPF 5QOCNKC +P #NIGTKC &4% 'I[RV +TCS .GDCPQP .KD[C 6WPKUKC 7#' CPF ;GOGP
RGQRNG YGTG UGPVGPEGF VQ FGCVJ CHVGT VTKCNU KP VJGKT CDUGPEG

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

4')+10#. 18'48+'95
#/'4+%#5
6JG 75# EQPVKPWGF VQ DG VJG QPN[ GZGEWVKPI EQWPVT[ KP C TGIKQP YJGTG TGEQWTUG VQ VJG FGCVJ
RGPCNV[ JCU DGGP KP FGENKPG 1PN[ HQWT EQWPVTKGU KORQUGF FGCVJ UGPVGPEGU KP VJG #OGTKECU
CPF GXGP YKVJKP VJG 75# UWRRQTV HQT ECRKVCN RWPKUJOGPV KU YCPKPI
#NVJQWIJ VJG PWODGT QH GZGEWVKQPU KP VJG 75# TGOCKPGF VJG UCOG CU KP
QPN[ PKPG
UVCVGU ECTTKGF QWV GZGEWVKQPU KP
s EQORCTGF VQ
KP
6JG VQVCN PWODGT QH PGY
FGCVJ UGPVGPEGU KORQUGF
YCU VJG UGEQPF NQYGUV UKPEG VJG 75 5WRTGOG %QWTV CRRTQXGF
TGXKUGF ECRKVCN RWPKUJOGPV NCYU KP
VJGUG UGPVGPEGU YGTG KORQUGF KP
QWV QH VJG
UVCVGU TGVCKPKPI ECRKVCN RWPKUJOGPV +P #RTKN
%QPPGEVKEWV DGECOG VJG
VJ
CDQNKVKQPKUV UVCVG C DCNNQV KPKVKCVKXG VQ CDQNKUJ VJG FGCVJ RGPCNV[ KP %CNKHQTPKC PCTTQYN[ HCKNGF
KP 0QXGODGT

6*' &'#6* 2'0#.6; +0 6*' 75# +0
GZGEWVKQPU #TK\QPC
&CMQVC
6GZCU

&GNCYCTG

(NQTKFC

+FCJQ

/KUUKUUKRRK

FGCVJ UGPVGPEGU #NCDCOC
#TK\QPC
%CNKHQTPKC
%QPPGEVKEWV
)GQTIKC
.QWKUKCPC
/KUUKUUKRRK
/QPVCPC
0GXCFC
1JKQ
5QWVJ &CMQVC
6GPPGUUGG
6GZCU
(GFGTCN IQXGTPOGPV
RGQRNG QP FGCVJ TQY KPENWFKPI
KP #NCDCOC
EQOOWVCVKQPU D[ VJG GZGEWVKXG

KP %CNKHQTPKC

KP (NQTKFC

1JKQ

1MNCJQOC

&GNCYCTG
1MNCJQOC

KP 6GZCU

5QWVJ

(NQTKFC
2GPPU[NXCPKC

KP 2GPPU[NXCPKC CPF

GZQPGTCVKQPU

6YGNXG PGY FGCVJ UGPVGPEGU YGTG KORQUGF GNUGYJGTG KP VJG #OGTKECU VYQ KP $CTDCFQU HKXG
KP )W[CPC CPF CV NGCUV HKXG KP 6TKPKFCF CPF 6QDCIQ $QVJ 6TKPKFCF CPF 6QDCIQ CPF $CTDCFQU
TGVCKP VJG OCPFCVQT[ KORQUKVKQP QH VJG FGCVJ RGPCNV[ KP VJGKT NGIKUNCVKQP
6JGTG YGTG PQ GZGEWVKQPU QT FGCVJ UGPVGPEGU RCUUGF KP #PVKIWC CPF $CTDWFC $CJCOCU
%WDC &QOKPKEC )TGPCFC )WCVGOCNC ,COCKEC 5CKPV -KVVU CPF 0GXKU 5CKPV .WEKC CPF 5CKPV
8KPEGPV CPF VJG )TGPCFKPGU #U QH
&GEGODGT PQ QPG YCU WPFGT UGPVGPEG QH FGCVJ KP
%WDC QT &QOKPKEC (KHV[ VJTGG FGCVJ UGPVGPEGU YGTG EQOOWVGF KP )WCVGOCNC CHVGT VJG
%TKOKPCN FKXKUKQP QH VJG 5WRTGOG %QWTV QH ,WUVKEG TGXKGYGF VJG ECUGU QH CNN RTKUQPGTU WPFGT
UGPVGPEG QH FGCVJ KP VJG EQWPVT[
5GXGP RTKUQPGTU TGOCKPGF WPFGT UGPVGPEG QH FGCVJ KP #PVKIWC CPF $CTDWFC CV VJG GPF QH
1P
/CTEJ VJG CWVJQTKVKGU TGLGEVGF ECNNU s OCFG D[ VJG 70 *WOCP 4KIJVU %QWPEKN
KP 1EVQDGT
FWTKPI C TGXKGY QH JWOCP TKIJVU KUUWGU KP #PVKIWC CPF $CTDWFC s VQ CDQNKUJ
VJG FGCVJ RGPCNV[ #EEQTFKPI VQ VJG CWVJQTKVKGU EJCPIKPI GZKUVKPI NGIKUNCVKQP QP OCVVGTU

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

TGNCVGF VQ VJG FGCVJ RGPCNV[ YCU PQV CP CEEGRVCDNG RTQRQUKVKQP KP NKIJV QH RWDNKE QRKPKQP
1PG RGTUQP TGOCKPGF WPFGT UGPVGPEG QH FGCVJ KP VJG $CJCOCU HQT C OWTFGT EQOOKVVGF KP
6JG NCUV GZGEWVKQP KP VJG EQWPVT[ YCU ECTTKGF QWV KP
+P $CTDCFQU UKZ RGQRNG YGTG QP FGCVJ TQY CV VJG GPF QH VJG [GCT CPF VYQ PGY FGCVJ
UGPVGPEGU YGTG KORQUGF 6JG NCUV GZGEWVKQP YCU ECTTKGF QWV KP
#V VJG GPF QH C VJTGG
FC[ XKUKV VQ VJG EQWPVT[ KP #RTKN VJG 70 *KIJ %QOOKUUKQPGT HQT *WOCP 4KIJVU 0CXK 2KNNC[
YGNEQOGF VJG UVCVGoU EQOOKVOGPV VQ CDQNKUJ OCPFCVQT[ FGCVJ UGPVGPEGU CPF WTIGF KV VQ
pECTT[ VJKU QWV CU SWKEMN[ CU RQUUKDNG CPF VJGP OQXG QP VQYCTFU C OQTCVQTKWO QP GZGEWVKQPU
CPF GXGPVWCN CDQNKVKQP q
+P %CPCFC YJGTG VJG FGCVJ RGPCNV[ YCU CDQNKUJGF HQT CNN ETKOGU KP
VJG IQXGTPOGPV FKF
PQV OCMG CP[ URGEKCN UWDOKUUKQPU KP UWRRQTV QH VJG ENGOGPE[ CRRGCN QH 4QPCNF 5OKVJ QP
FGCVJ TQY KP /QPVCPC HQT C FQWDNG OWTFGT EQOOKVVGF KP
CPF QPG QH QPN[ VYQ %CPCFKCP
PCVKQPCNU MPQYP VQ DG WPFGT UGPVGPEG QH FGCVJ KP VJG 75# *KU TGSWGUV HQT ENGOGPE[ YCU
FGPKGF D[ VJG /QPVCPC $QCTF QH 2CTFQPU CPF 2CTQNGU QP /C[ DWV PQ GZGEWVKQP FCVG YCU
UGV CHVGT C UVCVG LWFIG FGENCTGF /QPVCPCoU NGVJCN KPLGEVKQP RTQVQEQN WPEQPUVKVWVKQPCN KP
5GRVGODGT 9JGP VJG 70 )GPGTCN #UUGODN[ CFQRVGF KVU HQWTVJ TGUQNWVKQP QP C OQTCVQTKWO QP
VJG WUG QH VJG FGCVJ RGPCNV[ %CPCFC YCU VJG QPN[ CDQNKVKQPKUV EQWPVT[ KP VJG #OGTKECU PQV VQ
JCXG EQ URQPUQTGF VJG TGUQNWVKQP
1PG RGTUQP TGOCKPGF WPFGT UGPVGPEG QH FGCVJ KP )TGPCFC 0Q GZGEWVKQPU JCXG DGGP ECTTKGF
QWV KP VJG EQWPVT[ UKPEG
0Q PGY FGCVJ UGPVGPEGU CPF PQ GZGEWVKQPU YGTG TGEQTFGF KP )WCVGOCNC 1P
,CPWCT[ VJG
%TKOKPCN FKXKUKQP QH VJG 5WRTGOG %QWTV QH ,WUVKEG TGXKGYGF VJG ECUGU QH CNN RTKUQPGTU WPFGT
UGPVGPEG QH FGCVJ KP VJG EQWPVT[ CPF EQOOWVGF VQ
[GCTUo KORTKUQPOGPV VJG FGCVJ
UGPVGPEGU QH
RTKUQPGTU 1PG RGTUQP YCU NGHV QP FGCVJ TQY 6JG 2TGUKFGPV QH VJG %TKOKPCN
FKXKUKQP GZRNCKPGF VJCV VJG FGEKUKQP YCU VCMGP CU VJG EQPXKEVGF RTKUQPGTU JCF PQV DGGP IKXGP
VJG RQUUKDKNKV[ QH CP CFGSWCVG FGHGPEG CPF VJGTGHQTG FWG RTQEGUU UCHGIWCTFU JCF DGGP
XKQNCVGF
+P /CTEJ VJG 70 *WOCP 4KIJVU %QOOKVVGG PQVGF YKVJ UCVKUHCEVKQP VJG KORNGOGPVCVKQP QH C
FG HCEVQ OQTCVQTKWO QP VJG FGCVJ RGPCNV[ KP )WCVGOCNC UKPEG
CU YGNN CU VJG
EQOOWVCVKQPU QTFGTGF D[ VJG 5WRTGOG %QWTV FGUETKDGF CDQXG *QYGXGT KV GZRTGUUGF
EQPEGTP CV DKNNU KPVTQFWEGF KP
CPF
CKOGF CV TGUWOKPI GZGEWVKQPU CPF CV VJG
ITQYKPI UWRRQTV HQT VJQUG DKNNU 6JG %QOOKVVGG WTIGF )WCVGOCNC VQ EQPUKFGT CDQNKUJKPI VJG
FGCVJ RGPCNV[ QHHKEKCNN[ CPF VQ CEEGFG VQ VJG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG +%%24
&WTKPI KVU 7PKXGTUCN 2GTKQFKE 4GXKGY 724 DGHQTG VJG 70 *WOCP 4KIJVU %QWPEKN QP
1EVQDGT )WCVGOCNC UVCVGF VJCV PQ QPG YCU HCEKPI VJG FGCVJ RGPCNV[ KP VJG EQWPVT[ UKPEG
CNN FGCVJ UGPVGPEGU HQT VJG QHHGPEGU QH MKFPCRRKPI OWTFGT CPF TCRG YGTG EQOOWVGF VQ NKHG
KORTKUQPOGPV VJTQWIJ URGEKCN CRRNKECVKQPU HQT LWFKEKCN TGXKGY UWDOKVVGF D[ VJG 2WDNKE
%TKOKPCN &GHGPEG +PUVKVWVG 6JG EQOOWVCVKQPU YGTG KP NKPG YKVJ VJG LWFIOGPVU KP URGEKHKE
FGCVJ RGPCNV[ ECUGU VJCV JCF DGGP VJG UWDLGEV QH KPVGTPCVKQPCN NKVKICVKQP KP VJG +PVGT #OGTKECP
%QWTV QH *WOCP 4KIJVU &WTKPI VJG 724 )WCVGOCNCoU TGRTGUGPVCVKXGU UWRRQTVGF
TGEQOOGPFCVKQPU VQ TCVKH[ VJG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG +%%24 CPF VQ EQPUKFGT VJG

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

CDQNKVKQP QH VJG FGCVJ RGPCNV[ KP VJG EQWPVT[oU FQOGUVKE NGIKUNCVKQP
(KXG PGY FGCVJ UGPVGPEGU YGTG KORQUGF KP )W[CPC CPF
FGCVJ TQY KPOCVGU TGOCKPGF
WPFGT UGPVGPEG QH FGCVJ CV VJG GPF QH VJG [GCT #V VJG GPF QH /C[ FGCVJ TQY KPOCVG )CPIC
&GQNCNN YJQ KU FKCDGVKE TGRQTVGFN[ DGICP C JWPIGT UVTKMG VQ RTQVGUV CICKPUV VJG NCEM QH
OGFKECN CUUKUVCPEG CPF ECTG HTQO VJG )GQTIGVQYP RTKUQP CWVJQTKVKGU JG JCF DGGP FGPKGF
OGFKECVKQPU UWKVCDNG FKGV CPF ENKPKE XKUKVU +P #WIWUV *CHGG\ *WUUCKP YJQ UWHHGTU HTQO JKIJ
EJQNGUVGTQN NGXGNU LQKPGF &GQNCNN KP JKU RTQVGUV 6JGKT HCOKNKGU ENCKOGF VJCV VJG KPOCVGU YGTG
VQNF VJCV VJGTG YCU PQ OGFKECVKQP VQ VTGCV FKCDGVGU QT JKIJ EJQNGUVGTQN CV VJG )GQTIGVQYP
2WDNKE *QURKVCN %QTRQTCVKQP %QPFKVKQPU QH FGVGPVKQP KP )W[CPC YJGTG RTKUQPU CTG
RGTUKUVGPVN[ QXGTETQYFGF JCXG DGGP TGRGCVGFN[ ETKVKEK\GF D[ KPVGTPCVKQPCN QTICPK\CVKQPU
1P ,WPG CEVKPI %JKGH ,WUVKEG +CP %JCPI EQOOWVGF VJG FGCVJ UGPVGPEGU QH 0QGN 6JQOCU
.CYTGPEG %JCP 4CDKPFTCPCWVJ &GQ CPF /WPVC\ #NK 6YQ QH VJGO .CYTGPEG %JCP CPF
4CDKPFTCPCWVJ &GQ JCF JCF VJGKT FGCVJ YCTTCPVU TGCF VQ VJGO KP (GDTWCT[
%JKGH
,WUVKEG +CP %JCPIoU TWNKPI HQNNQYGF CP CRRGCN HKNGF D[ 0QGN 6JQOCU KP
YJKEJ UVCVGF
VJCV JKU RTQNQPIGF KPECTEGTCVKQP QP FGCVJ TQY s UKPEG
s WPFGT VJG VJTGCV QH GZGEWVKQP
XKQNCVGF VJG RTQJKDKVKQP CICKPUV VQTVWTG QT QVJGT ETWGN KPJWOCP QT FGITCFKPI RWPKUJOGPV QT
QVJGT VTGCVOGPV CU GPUJTKPGF KP #TVKENG
QH VJG %QPUVKVWVKQP QH )W[CPC
(QNNQYKPI C EQOOKVOGPV WPFGTVCMGP FWTKPI VJG EQWPVT[oU 724 KP
VJG 0CVKQPCN
#UUGODN[ QH )W[CPC CFQRVGF QP
#WIWUV C IQXGTPOGPV DCEMGF OQVKQP VQ DGIKP PCVKQPCN
EQPUWNVCVKQPU KP TGNCVKQP VQ VJG CDQNKVKQP QH VJG FGCVJ RGPCNV[ CDQNKVKQP QH EQTRQTCN
RWPKUJOGPV KP UEJQQNU CPF FGETKOKPCNK\CVKQP QH EQPUGPUWCN CFWNV UCOG UGZ TGNCVKQPU CU YGNN
CU GPFKPI FKUETKOKPCVKQP CICKPUV NGUDKCP IC[ DKUGZWCN CPF VTCPUIGPFGT RGQRNG 6JG
#UUGODN[ GUVCDNKUJGF C 5RGEKCN 5GNGEV %QOOKVVGG VCUMGF YKVJ QTICPK\KPI PCVKQPCN
EQPUWNVCVKQPU YKVJ C XKGY VQ CEJKGXKPI NGIKUNCVKXG EJCPIGU 6JG 6GTOU QH 4GHGTGPEG IWKFKPI
VJG YQTM QH VJG %QOOKVVGG GZRNKEKVN[ TGSWGUV VJCV VJG CVVKVWFG QH VJG )W[CPGUG RGQRNG DG
FGVGTOKPGF RCTVKEWNCTN[ VJG HCOKNKGU QH XKEVKOU ETKOKPQNQIKUVU CPF RTQHGUUKQPCNU QP ECRKVCN
RWPKUJOGPV CPF KVU RQUUKDNG CDQNKVKQP /KPKUVGT QH *WOCP 5GTXKEGU CPF 5QEKCN 5GEWTKV[
,GPPKHGT 9GDUVGT YCU GNGEVGF %JCKTRGTUQP QH VJG 5RGEKCN 5GNGEV %QOOKVVGG QP
0QXGODGT
CPF VJG EQPUWNVCVKQP YCU [GV VQ DGIKP CV VJG GPF QH VJG [GCT
5GXGP RGQRNG TGOCKPGF WPFGT UGPVGPEG QH FGCVJ KP ,COCKEC YJGTG VJG NCUV GZGEWVKQP YCU
ECTTKGF QWV KP
6JG %QOOKVVCN 2TQEGGFKPIU #EV
YJKEJ YCU KPVTQFWEGF KP
CPF CKOU VQ URGGF WR VTKCN RTQEGGFKPIU D[ TGRNCEKPI VJG /CIKUVTCVGUo RTGNKOKPCT[ GPSWKTGU
YKVJ YTKVVGP DTKGHKPIU YCU RGPFKPI DGHQTG VJG ,QKPV 5GNGEV %QOOKVVGG QH VJG 2CTNKCOGPV CV
VJG GPF QH VJG [GCT %QPEGTPU YGTG TCKUGF KPENWFKPI D[ VJG 0QTOCP /CPNG[ .CY 5EJQQN KP
TGNCVKQP VQ URGEKHKE RTQXKUKQPU YJKEJ CU FTCHVGF YGTG KPEQPUKUVGPV YKVJ VJG %JCTVGT QH
(WPFCOGPVCN 4KIJVU CPF (TGGFQOU KPEQTRQTCVGF KP %JCRVGT QH VJG ,COCKECP %QPUVKVWVKQP
1P
5GRVGODGT C LWT[ KP CDQNKVKQPKUV 2WGTVQ 4KEQ TGLGEVGF VJG FGCVJ RGPCNV[ KP C 75 HGFGTCN
VTKCN 'FKUQP $WTIQU /QPVGU YCU EQPXKEVGF CPF UGPVGPEGF VQ NKHG KORTKUQPOGPV HQT VJG OWTFGT
QH /CFGN[P 5GOKFG[ /QTCNGU YJQ JCF DGGP EQ QRGTCVKPI YKVJ VJG 75 CWVJQTKVKGU KP CP
KPXGUVKICVKQP CICKPUV JKO
(QWT RGQRNG JCF VJGKT FGCVJ UGPVGPEGU EQOOWVGF KP 5CKPV -KVVU CPF 0GXKU D[ C LWFIOGPV QH
VJG 'CUVGTP %CTKDDGCP %QWTV QH ,WUVKEG FGNKXGTGF QP
/CTEJ 5JGNFQP +UCCEoU EQPXKEVKQP

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

YCU SWCUJGF CU VJG %QWTV EQPENWFGF VJCV JG YCU WPHKV VQ UVCPF VTKCN FWG VQ UGXGTG DTCKP
FCOCIG YJKNG 4QOGQ %CPPQPKGT 4GWFGPG[ 9KNNKCOU CPF .QWKU )CTFGPGToU FGCVJ UGPVGPEGU
YGTG EQOOWVGF 1PG RTKUQPGT TGOCKPGF QP FGCVJ TQY CV VJG GPF QH VJG [GCT

6+/' .+/+6 10 4+)*6 61 #22'#. +/2#+45 (#+4 64+#.5 )7#4#06''5
1H ETKVKECN KORQTVCPEG KP VJG ECUG QH 4QOGQ %CPPQPKGT X VJG &KTGEVQT QH 2WDNKE 2TQUGEWVKQPU KU VJG RCTV QH VJG
LWFIOGPV VJCV TGNCVGU VQ VJG VKOG NKOKVU QP VJG TKIJV VQ CRRGCN KP ECRKVCN ECUGU 6JG 'CUVGTP %CTKDDGCP
5WRTGOG %QWTV HQWPF VJCV UGEVKQP
QH VJG 'CUVGTP %CTKDDGCP 5WRTGOG %QWTV #EV YJKEJ UGVU C UVTKEV
FC[ NKOKV HQT HKNKPI CRRGCNU VQ VJG %QWTV KP ECRKVCN ECUGU CPF FKUETGVKQPCT[ KP PQP ECRKVCN ECUGU XKQNCVGF VJG
FGHGPFCPVUo HCKT VTKCN TKIJVU CU IWCTCPVGGF WPFGT 5GEVKQP QH VJG %QPUVKVWVKQP QH 5CKPV -KVVU CPF 0GXKU CPF
#TVKENG QH VJG +%%24 KPENWFKPI VJG TKIJV VQ JCXG CFGSWCVG VKOG CPF HCEKNKVKGU VQ RTGRCTG C FGHGPEG 6JG
EQWTV FKTGEVGF VJCV VJG VKOG NKOKVU UGV KP UGEVKQP
QH VJG 'CUVGTP %CTKDDGCP 5WRTGOG %QWTV 5VCVWVGU
UJQWNF DG TGCF CU FKUETGVKQPCT[ KP CNN ECUGU YKVJQWV FKHHGTGPVKCVKPI DGVYGGP ECRKVCN CPF PQP ECRKVCN ECUGU
1PG RGTUQP TGOCKPGF WPFGT UGPVGPEG QH FGCVJ KP 5CKPV .WEKC CPF QPG KP 5CKPV 8KPEGPV CPF
VJG )TGPCFKPGU CV VJG GPF QH
1P
/C[ VJG 'CUVGTP %CTKDDGCP %QWTV QH ,WUVKEG
EQOOWVGF VJG FGCVJ UGPVGPEG QH 5JQTP 5COWGN YJQ JCF DGGP EQPXKEVGF CPF UGPVGPEGF VQ
FGCVJ KP
HQT C OWTFGT EQOOKVVGF KP
#V NGCUV HKXG PGY FGCVJ UGPVGPEGU YGTG KORQUGF KP 6TKPKFCF CPF 6QDCIQ CPF
RTKUQPGTU
TGOCKPGF WPFGT UGPVGPEG QH FGCVJ CV VJG GPF QH VJG [GCT 6JG ,WFKEKCN %QOOKVVGG QH VJG 2TKX[
%QWPEKN TGHGTTGF HQWT ECRKVCN ECUGU KPXQNXKPI HKXG KPFKXKFWCNU VQ VJG %QWTVU QH #RRGCN QH
6TKPKFCF CPF 6QDCIQ 0KIGN $TQYP YCU FGGOGF WPHKV VQ RNGCF CPF JKU EQPXKEVKQP YCU
EQPUKFGTGF WPUCHG QP VJG DCUKU QH HTGUJ GXKFGPEG 0GY GXKFGPEG KP /CTEWU ,CUQP &CPKGNoU
ECUG TCKUGF C ETGFKDNG FGHGPEG QH FKOKPKUJGF TGURQPUKDKNKV[ DCUGF QP pDQTFGTNKPG RGTUQPCNKV[
FKUQTFGTq CPF pCNEQJQN CPF FTWI KPFWEGF RU[EJQUKUq +P VJG ECUGU QH &GGPKUJ $GPLCOKP
&GQEJCP )CPIC CPF /CTNQP 6CKVV VJG ,WFKEKCN %QOOKVVGG QH VJG 2TKX[ %QWPEKN TGHGTTGF VJG
SWGUVKQP QH YJGVJGT VJG KORQUKVKQP QH VJG FGCVJ RGPCNV[ QP C OGPVCNN[ KORCKTGF FGHGPFCPV KU
ETWGN CPF WPWUWCN RWPKUJOGPV EQPVTCT[ VQ UGEVKQP
QH VJG %QPUVKVWVKQP QH 6TKPKFCF CPF
6QDCIQ VQ VJG EQWPVT[oU %QWTV QH #RRGCN
6JTGG SWCTVGTU QH CNN GZGEWVKQPU KP VJG 75# QEEWTTGF KP QPN[ HQWT UVCVGU #TK\QPC /KUUKUUKRRK
1MNCJQOC CPF 6GZCU #NN GZGEWVKQPU YGTG ECTTKGF QWV D[ NGVJCN KPLGEVKQP YKVJ RGPVQDCTDKVCN C
UWDUVCPEG TGEGPVN[ KPVTQFWEGF KPVQ GZGEWVKQP RTQEGFWTGU FWG VQ UJQTVCIGU KP VJG UWRRN[ QH
FTWIU RTGXKQWUN[ WUGF VQ MKNN FGCVJ TQY RTKUQPGTU
6JTGG RGQRNG JCF VJGKT EQPXKEVKQPU QXGT VWTPGF CPF YGTG GZQPGTCVGF HTQO FGCVJ TQY NCUV [GCT
KP 1JKQ .QWKUKCPC CPF (NQTKFC
+P UQOG ECUGU VJG WUG QH ECRKVCN RWPKUJOGPV EQPVTCXGPGF KPVGTPCVKQPCN UVCPFCTFU +P UQOG
UVCVGU KV YCU VCKPVGF D[ TCEKCN FKUETKOKPCVKQP CPF U[UVGOKE HNCYU 6JG FGCVJ RGPCNV[ YCU
KORQUGF CICKPUV CPF ECTTKGF QWV QP RGQRNG YKVJ OGPVCN FKUCDKNKVKGU 2TG VTKCN RTQEGGFKPIU
EQPVKPWGF KP VJG 75 PCXCN DCUG CV )WCPV½PCOQ $C[ KP %WDC KP VJG ECUGU QH UKZ HQTGKIP
PCVKQPCNU EJCTIGF YKVJ ECRKVCN QHHGPEGU KP VTKCNU ECTTKGF QWV D[ OKNKVCT[ EQOOKUUKQP WPFGT C
U[UVGO VJCV FQGU PQV OGGV KPVGTPCVKQPCN HCKT VTKCN UVCPFCTFU #P[ WUG QH VJG FGCVJ RGPCNV[
CHVGT UWEJ VTKCNU YQWNF XKQNCVG VJG RTQVGEVKQP CICKPUV CTDKVTCT[ FGRTKXCVKQP QH NKHG WPFGT

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

KPVGTPCVKQPCN NCY

;QMCOQP *GCTP YCU GZGEWVGF KP 6GZCU QP ,WN[ CHVGT VJG UVCVG $QCTF QH 2CTFQPU CPF 2CTQNGU FGPKGF
ENGOGPE[ CPF VJG IQXGTPQT CPF VJG EQWTVU FGENKPGF VQ KPVGTXGPG
*G YCU UGPVGPEGF VQ FGCVJ HQT C
OWTFGT *G YCU [GCTU QNF CV VJG VKOG QH VJG ETKOG CPF JCF C
FGXGNQROGPVCN OGPVCN FKUCDKNKV[ VJCV CEEQTFKPI VQ GZRGTV QRKPKQP QDVCKPGF D[ JKU NCY[GTU COQWPVGF VQ
pOGPVCN TGVCTFCVKQPq VJWU TGPFGTKPI JKU GZGEWVKQP WPEQPUVKVWVKQPCN *KU NCY[GTUo CVVGORVU VQ TGVWTP VQ HGFGTCN
EQWTV VQ CTIWG VJCV ;QMCOQP *GCTP JCF DGGP FGPKGF EQPUVKVWVKQPCNN[ GHHGEVKXG NGICN TGRTGUGPVCVKQP CV VTKCN QT
FWTKPI JKU KPKVKCN CRRGCNU YGTG WPUWEEGUUHWN
1P 1EVQDGT ,QPCVJCP )TGGP DGECOG VJG
VJ RTKUQPGT GZGEWVGF KP 6GZCU WPFGT VJG IQXGTPQTUJKR QH 4KEM
2GTT[ 6YQ FC[U GCTNKGT C HGFGTCN LWFIG JCF ITCPVGF C UVC[ QH GZGEWVKQP ,QPCVJCP )TGGPoU NCY[GT JCF
UWDOKVVGF EQORGNNKPI GXKFGPEG VJCV JKU ENKGPV UWHHGTGF HTQO UEJK\QRJTGPKC CPF DGNKGXGF VJCV JG YCU IQKPI VQ
DG MKNNGF pCU C TGUWNV QH FGOQPU EQPFWEVKPI URKTKVWCN YCTHCTG QXGT JKOq # OGPVCN JGCNVJ GZRGTV TGVCKPGF D[ VJG
FGHGPEG JCF EQPENWFGF VJCV ,QPCVJCP )TGGP YCU UWHHGTKPI HTQO pUGXGTG FGNWUKQPU JCNNWEKPCVKQPU CPF HQTOCN
VJQWIJV FKUQTFGTUq 6JG HGFGTCN LWFIG CNUQ PQVGF VJCV RTKUQP TGEQTFU FCVKPI DCEM VQ
UJQYGF pRTQITGUUKPI
OGPVCN KNNPGUU KPENWFKPI XKUWCN CWFKVQT[ CPF UQOCVKE JCNNWEKPCVKQPU (QT KPUVCPEG )TGGP JCU UVWHHGF VQKNGV
RCRGT KP JKU GCTU VQ VT[ VQ UVQR VJG XQKEGU KP JKU JGCF 1P UGXGTCN QEECUKQPU JG TGSWKTGF OGFKECN CVVGPVKQP VQ
TGOQXG VJG KORCEVGF VQKNGV RCRGT HTQO JKU GCTUq 6JG 75 %QWTV QH #RRGCNU HQT VJG (KHVJ %KTEWKV ITCPVGF VJG
UVCVGoU OQVKQP VQ NKHV VJG UVC[ QH GZGEWVKQP CPF PGKVJGT VJG 75 5WRTGOG %QWTV PQT )QXGTPQT 2GTT[ KPVGTXGPGF
VJG GZGEWVKQP YGPV CJGCF 6JG HKPCN UVCVGOGPV QH VJG RTKUQPGT YCU TGEQTFGF CU p+oO CP KPPQEGPV OCP + FKF PQV
MKNN CP[QPG ;oCNN CTG MKNNKPI CP KPPQEGPV OCP /[ NGHV CTO KU MKNNKPI OG +V JWTVU DCF q
&KURCTKVKGU KP VJG WUG QH VJG FGCVJ RGPCNV[ NKPMGF VQ TCEKCN FKUETKOKPCVKQP EQPVKPWGF VQ DG
TGEQTFGF +P 0QTVJ %CTQNKPC /CTEWU 4QDKPUQP 6KNOQP )QNRJKP %JTKUVKPC 9CNVGTU CPF 3WKPVGN
#WIWUVKPG YGTG TG UGPVGPEGF VQ NKHG KP RTKUQP YKVJQWV RCTQNG CHVGT %WODGTNCPF %QWPV[
5WRGTKQT %QWTV ,WFIG )TGI 9GGMU JCF TGXKGYGF VJGKT ECUGU WPFGT VJG UVCVGoU 4CEKCN ,WUVKEG
#EV 4,# *G HQWPF VJCV RTQUGEWVQTU JCF GORNQ[GF TCEKCNN[ FKUETKOKPCVQT[ VCEVKEU FWTKPI LWT[
UGNGEVKQP VQ FKUOKUU RTQURGEVKXG #HTKECP #OGTKECP LWTQTU +P JKU TWNKPI QP VJG NCVVGT VJTGG
ECUGU KP &GEGODGT ,WFIG 9GGMU PQVGF VJCV CHVGT JKU FGEKUKQP KP VJG 4QDKPUQP ECUG KP #RTKN
VJG UVCVG NGIKUNCVWTG JCF pVWTPGF CYC[q HTQO VJG GXKFGPEG QH TCEKUO D[ PCTTQYKPI VJG 4,#
*G PGXGTVJGNGUU GZRTGUUGF VJG pJQRG VJCV CEMPQYNGFIOGPV QH VJG WIN[ VTWVJ QH TCEG
FKUETKOKPCVKQP TGXGCNGF D[ &GHGPFCPVU GXKFGPEG KU VJG HKTUV UVGR KP ETGCVKPI C U[UVGO QH
LWUVKEG VJCV KU HTGG HTQO VJG RGTPKEKQWU KPHNWGPEG QH TCEG C U[UVGO VJCV VTWN[ NKXGU WR VQ QWT
KFGCN QH GSWCN LWUVKEG WPFGT VJG NCY
+P #RTKN %QPPGEVKEWV DGECOG VJG HKHVJ 75 UVCVG VQ JCXG CDQNKUJGF VJG FGCVJ RGPCNV[ UKPEG
NGIKUNCVKXG DKNNU VQ CDQNKUJ VJG FGCVJ RGPCNV[ YGTG CNUQ RTGRCTGF KP %QNQTCFQ
/CT[NCPF CPF 0GY *CORUJKTG

p/[ RQUKVKQP QP VJG CRRTQRTKCVGPGUU QH VJG FGCVJ RGPCNV[ KP QWT ETKOKPCN LWUVKEG U[UVGO GXQNXGF QXGT C NQPI
RGTKQF QH VKOG #U C [QWPI OCP + YCU C FGCVJ RGPCNV[ UWRRQTVGT 6JGP + URGPV [GCTU CU C RTQUGEWVQT CPF
RWTUWGF FCPIGTQWU HGNQPU KP EQWTV KPENWFKPI OWTFGTGTU +P VJG VTGPEJGU QH C ETKOKPCN EQWTVTQQO + NGCTPGF
HKTUVJCPF VJCV QWT U[UVGO QH LWUVKEG KU XGT[ KORGTHGEV 9JKNG KVoU C IQQF U[UVGO FGUKIPGF YKVJ VJG JKIJGUV
KFGCNU QH QWT FGOQETCVKE UQEKGV[ KP OKPF NKMG OQUV QH JWOCP GZRGTKGPEG KV KU UWDLGEV VQ VJG HCNNKDKNKV[ QH VJQUG
YJQ RCTVKEKRCVG KP KV + UCY RGQRNG YJQ YGTG RQQTN[ UGTXGF D[ VJGKT EQWPUGN + UCY RGQRNG YTQPIN[ CEEWUGF QT

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

OKUVCMGPN[ KFGPVKHKGF + UCY FKUETKOKPCVKQP +P DGCTKPI YKVPGUU VQ VJQUG VJKPIU + ECOG VQ DGNKGXG VJCV FQKPI
CYC[ YKVJ VJG FGCVJ RGPCNV[ YCU VJG QPN[ YC[ VQ GPUWTG KV YQWNF PQV DG WPHCKTN[ KORQUGF q
&CPPGN 2 /CNNQ[ )QXGTPQT QH %QPPGEVKEWV 5VCVGOGPV HQNNQYKPI JKU UKIPKPI QH VJG TGRGCN DKNN

#RTKN

#PQVJGT UVTQPI KPFKECVQT QH YCPKPI RWDNKE UWRRQTV HQT VJG FGCVJ RGPCNV[ KP VJG 75# GOGTIGF
YKVJ VJG TGUWNVU QH VJG CDQNKVKQP TGHGTGPFWO KP %CNKHQTPKC 1P 0QXGODGT %CNKHQTPKC XQVGTU
TGLGEVGF D[ C
OCTIKP CDQWV
XQVGU p2TQRQUKVKQP
q C DCNNQV KPKVKCVKXG CKOGF CV
TGRGCNKPI VJG FGCVJ RGPCNV[ KP VJG 75 UVCVG YKVJ VJG DKIIGUV FGCVJ TQY RQRWNCVKQP 6JG XQVG
QWVEQOG YJKNG TGITGVVCDNG FKHHGTU UWDUVCPVKCNN[ HTQO VJG
DCNNQV QP 2TQRQUKVKQP YJKEJ
UCY VJG FGCVJ RGPCNV[ TGKPUVCVGF KP %CNKHQTPKC D[
VQ
1PG QH VJG CWVJQTU QH
2TQRQUKVKQP
4QP $TKIIU GPFQTUGF 2TQRQUKVKQP
UC[KPI VJCV pVJG KPGHHGEVKXG NGICN DGCUV
ETGCVGF D[ %CNKHQTPKCoU FGCVJ RGPCNV[ NCYU EQUVU VCZRC[GTU OQTG VJCP
OKNNKQP CPPWCNN[
CPF VKGU WR VJG NKXGU QH RTQUGEWVQTU CPF XKEVKOU YJQ EQWNF DG OQXKPI QP VQ QVJGT VJKPIUq
'CTNKGT KP VJG [GCT VJG %QOOKVVGG QP &GVGTTGPEG CPF VJG &GCVJ 2GPCNV[ CV VJG 0CVKQPCN
4GUGCTEJ %QWPEKN RWDNKUJGF C TGRQTV YJKEJ EQPENWFGF VJCV pVJG TGUGCTEJ VQ FCVG QP VJG GHHGEV
QH ECRKVCN RWPKUJOGPV QP JQOKEKFG KU PQV KPHQTOCVKXG CDQWV YJGVJGT ECRKVCN RWPKUJOGPV
FGETGCUGU KPETGCUGU QT JCU PQ GHHGEV QP JQOKEKFG TCVGU q 6JG TGRQTV HWTVJGT UVCVGF pENCKOU
VJCV TGUGCTEJ FGOQPUVTCVGU VJCV ECRKVCN RWPKUJOGPV FGETGCUGU QT KPETGCUGU VJG JQOKEKFG TCVG
D[ C URGEKHKGF COQWPV QT JCU PQ GHHGEV QP VJG JQOKEKFG TCVG UJQWNF PQV KPHNWGPEG RQNKE[
LWFIOGPVU CDQWV ECRKVCN RWPKUJOGPV q
+P #WIWUV VJG +PVGT #OGTKECP %QOOKUUKQP QP *WOCP 4KIJVU TGNGCUGF C TGRQTV QP p6JG FGCVJ
RGPCNV[ KP VJG +PVGT #OGTKECP JWOCP TKIJVU U[UVGO (TQO TGUVTKEVKQPU VQ CDQNKVKQPq 6JG
TGRQTV UWOOCTK\GU MG[ FGCVJ RGPCNV[ FGXGNQROGPVU KP VJG +PVGT #OGTKECP U[UVGO KP VJG
RTGXKQWU
[GCTU CPF CPCN[\GU TGUVTKEVKQPU QP VJG CRRNKECVKQP QH VJKU RWPKUJOGPV EQPVCKPGF
KP KPVGTPCVKQPCN CPF TGIKQPCN UVCPFCTFU #OQPI KVU TGEQOOGPFCVKQPU VQ UVCVGU CTG C ECNN VQ
KORQUG C OQTCVQTKWO QP GZGEWVKQPU CU C UVGR VQYCTFU GPFKPI VJKU RGPCNV[ CPF GPUWTKPI HWNN
EQORNKCPEG YKVJ FGEKUKQPU QH VJG +PVGT #OGTKECP %QOOKUUKQP CPF %QWTV URGEKHKECNN[ YKVJ
FGEKUKQPU EQPEGTPKPI KPFKXKFWCN FGCVJ RGPCNV[ ECUGU CPF RTGECWVKQPCT[ CPF RTQXKUKQPCN
OGCUWTGU

#5+# 2#%+(+%

&GURKVG UQOG UGVDCEMU KP 5QWVJ #UKC VJGTG YGTG CNUQ RQUKVKXG FGXGNQROGPVU KP VJG TGIKQP
+PFKC CPF 2CMKUVCP TGUWOGF GZGEWVKQPU DTKPIKPI VJG PWODGT QH GZGEWVKPI EQWPVTKGU KP VJG
TGIKQP VQ GKIJV QPG OQTG EQORCTGF VQ
*QYGXGT 8KGV 0CO FKF PQV KORNGOGPV FGCVJ
UGPVGPEGU CPF 5KPICRQTG QDUGTXGF C OQTCVQTKWO QP GZGEWVKQPU YJKNG EQPUKFGTKPI NGIKUNCVKXG
COGPFOGPVU VQ KVU FGCVJ RGPCNV[ NCYU 1P
/CTEJ /QPIQNKC CEEGFGF VQ VJG 5GEQPF
1RVKQPCN 2TQVQEQN VQ VJG +PVGTPCVKQPCN %QXGPCPV QP %KXKN CPF 2QNKVKECN 4KIJVU +%%24 CKOKPI
CV VJG CDQNKVKQP QH VJG FGCVJ RGPCNV[

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

$TWPGK &CTWUUCNCO +PFQPGUKC .CQU VJG /CNFKXGU /QPIQNKC /[CPOCT 5QWVJ -QTGC 5TK
.CPMC CPF 6JCKNCPF FKF PQV ECTT[ QWV GZGEWVKQPU 6JG 2CEKHKE UWD TGIKQP EQPVKPWGF VQ DG C
XKTVWCNN[ FGCVJ RGPCNV[ HTGG CTGC
%JKPC QPEG CICKP GZGEWVGF OQTG RGQRNG VJCP VJG TGUV QH VJG YQTNF RWV VQIGVJGT DWV FWG VQ
VJG UGETGE[ UWTTQWPFKPI VJG WUG QH VJG FGCVJ RGPCNV[ KP VJG EQWPVT[ KV YCU PQV RQUUKDNG VQ
QDVCKP CP CEEWTCVG RKEVWTG QH VJG TGCNKV[ QH ECRKVCN RWPKUJOGPV VJGTG #OPGUV[ +PVGTPCVKQPCN
CNUQ EQWNF PQV EQPHKTO HKIWTGU HQT /CNC[UKC CPF 0QTVJ -QTGC +P /QPIQNKC VJG FGCVJ RGPCNV[
TGOCKPGF ENCUUKHKGF CU C UVCVG UGETGV +P 8KGV 0CO RWDNKUJKPI UVCVKUVKEU QP VJG WUG QH ECRKVCN
RWPKUJOGPV YCU UVKNN RTQJKDKVGF KP NCY

':'%76+105 #0& &'#6* 5'06'0%'5 +0 6*' #5+# 2#%+(+%
#V NGCUV GZGEWVKQPU YGTG TGRQTVGF VQ JCXG DGGP ECTTKGF QWV KP GKIJV EQWPVTKGU KP VJG #UKC 2CEKHKE TGIKQP
#HIJCPKUVCP
$CPINCFGUJ
%JKPC
+PFKC
,CRCP
0QTVJ -QTGC
2CMKUVCP
6CKYCP
6JKU HKIWTG FQGU PQV KPENWFG VJQWUCPFU QH GZGEWVKQPU DGNKGXGF VQ JCXG VCMGP RNCEG KP %JKPC
#V NGCUV
PGY FGCVJ UGPVGPEGU YGTG MPQYP VQ JCXG DGGP KORQUGF KP EQWPVTKGU KP VJG TGIKQP KP
#HIJCPKUVCP
$CPINCFGUJ
%JKPC
+PFKC
+PFQPGUKC
,CRCP
.CQU
/CNC[UKC
/CNFKXGU
/QPIQNKC
/[CPOCT
0QTVJ -QTGC
2CMKUVCP
5KPICRQTG
5QWVJ
-QTGC
5TK .CPMC
6CKYCP
6JCKNCPF
8KGV 0CO
6TKCNU HQT QHHGPEGU RWPKUJCDNG D[ FGCVJ EQPVKPWGF VQ XKQNCVG KPVGTPCVKQPCN NCY CPF UVCPFCTFU
QP VJG WUG QH VJG FGCVJ RGPCNV[ KP UGXGTCN EQWTVU YJKEJ QHVGP KORQUGF ECRKVCN RWPKUJOGPV CU
VJG OCPFCVQT[ RWPKUJOGPV 5QOG KPFKXKFWCNU YGTG UGPVGPEGF VQ FGCVJ QP VJG DCUKU QH
GXKFGPEG GZVTCEVGF VJTQWIJ VQTVWTG CPF QVJGT KNN VTGCVOGPV (QTGKIP PCVKQPCNU TGOCKPGF
FKURTQRQTVKQPCVGN[ CHHGEVGF D[ VJG FGCVJ RGPCNV[ KP VJG TGIKQP YJKEJ EQPVKPWGF VQ DG
KORQUGF CPF ECTTKGF QWV HQT QHHGPEGU VJCV FKF PQV OGGV VJG VJTGUJQNF QH VJG pOQUV UGTKQWU
ETKOGUq WPFGT #TVKENG QH VJG +%%24
6JKTV[ FGCVJ UGPVGPEGU YGTG UGPV HQT 2TGUKFGPVKCN TCVKHKECVKQP CPF
GZGEWVKQPU YGTG ECTTKGF
QWV KP #HIJCPKUVCP NCUV [GCT 1P
CPF
0QXGODGT GKIJV CPF UKZ KPFKXKFWCNU TGURGEVKXGN[
YGTG GZGEWVGF 6JG GZGEWVKQPU YGTG ECTTKGF QWV HQT ETKOGU KPENWFKPI OWTFGT TCRG
MKFPCRRKPI CPF VTGCUQP #V NGCUV
RGQRNG TGOCKPGF QP FGCVJ TQY CV VJG GPF QH VJG [GCT
CPF
FGCVJ UGPVGPEGU YGTG EQOOWVGF D[ VJG 2TGUKFGPV KP (GDTWCT[
1PG GZGEWVKQP YCU TGEQTFGF KP $CPINCFGUJ NCUV [GCT CPF CV NGCUV
PGY FGCVJ UGPVGPEGU
YGTG KORQUGF #RRTQZKOCVGN[
RGQRNG TGOCKPGF QP FGCVJ TQY CV VJG GPF QH VJG [GCT 1P
(GDTWCT[ VJG $CPINCFGUJK 2CTNKCOGPV RCUUGF VJG *WOCP 6TCHHKEMKPI 2TGXGPVKQP CPF
%QPVTQN #EV
RTQXKFKPI HQT VJG FGCVJ RGPCNV[ CU VJG JKIJGUV RWPKUJOGPV HQT JWOCP
VTCHHKEMKPI 1P VJG HQNNQYKPI FC[ KV CFQRVGF VJG #PVK 6GTTQTKUO #OGPFOGPV $KNN
YJKEJ KPENWFGU C RTQXKUKQP CNNQYKPI HQT VJG FGCVJ RGPCNV[ KP EGTVCKP EKTEWOUVCPEGU
%JKPC EQPVKPWGF VQ CEEQWPV HQT VJG OCLQTKV[ QH VJG YQTNFoU GZGEWVKQPU DWV VJG NCEM QH
VTCPURCTGPE[ UWTTQWPFKPI VJG WUG QH VJG FGCVJ RGPCNV[ KP VJG EQWPVT[ OCFG KV QPEG CICKP
KORQUUKDNG VQ EQPHKTO HKIWTGU VJCV YQWNF CFGSWCVGN[ TGRTGUGPV VJG TGCNKV[ QH ECRKVCN
RWPKUJOGPV KP VJG EQWPVT[ 5VCVG QYPGF OGFKC EQPVKPWGF VQ EQXGT JKIJ RTQHKNG ECUGU UWEJ CU
VJCV QH DWUKPGUU YQOCP 9W ;KPI YJQ JCF DGGP UGPVGPEGF VQ FGCVJ HQT pHTCWFWNGPVN[ TCKUKPI

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

HWPFUq DWV FKF PQV RTQXKFG VJG OWEJ PGGFGF KPHQTOCVKQP VQ RTQOQVG C OGCPKPIHWN FGDCVG QP
ECRKVCN RWPKUJOGPV KP VJG EQWPVT[ %NCKOU D[ QHHKEKCNU HTQO VJG 5WRTGOG 2GQRNGoU %QWTV VJCV
VJG VQVCN PWODGT QH GZGEWVKQPU JCU OQTG VJCP JCNXGF UKPEG VJG EQWTV TGUWOGF TGXKGYKPI CNN
FGCVJ UGPVGPEGU KP
JCXG [GV VQ DG RTQXGP
&GCVJ UGPVGPEGU EQPVKPWGF VQ DG KORQUGF CHVGT WPHCKT VTKCNU CPF HQT QHHGPEGU UWEJ CU FTWI
VTCHHKEMKPI QT HKPCPEKCN ETKOGU VJCV FKF PQV OGGV VJG VJTGUJQNF QH VJG pOQUV UGTKQWU ETKOGUq
KP NKPG YKVJ #TVKENG QH VJG +%%24 0Q RTQEGFWTGU HQT FGCVJ TQY RTKUQPGTU VQ UGGM RCTFQP QT
EQOOWVCVKQP QH VJGKT UGPVGPEG YGTG GUVCDNKUJGF WPFGT PCVKQPCN NGIKUNCVKQP

4QDGTV 5JCP 5JKCQ OC[ QH *QPI -QPI CPF .KGP 5WPI EJKPI QH 6CKYCP YGTG GZGEWVGF KP OCKPNCPF %JKPC QP
/CTEJ CHVGT VJG 5WRTGOG 2GQRNGoU %QWTV KP $GKLKPI CRRTQXGF VJGKT FGCVJ UGPVGPEGU
4QDGTV 5JCP 5JKCQ OC[ CIGF
YCU UGPVGPEGF VQ FGCVJ QP ,WPG
HQT FTWI VTCHHKEMKPI KNNGICN
RQUUGUUKQP QH FTWIU CPF KNNGICN RQUUGUUKQP QH C HKTGCTO .KGP 5WPI EJKPI CIGF
YCU UGPVGPEGF VQ FGCVJ CV
VJG UCOG VTKCN QP EJCTIGU QH RTQFWEKPI CPF VTCHHKEMKPI FTWIU 6JG )WCPIFQPI 2TQXKPEKCN *KIJGT 2GQRNGoU %QWTV
KP <JWJCK )WCPIFQPI RTQXKPEG TGLGEVGF VJGKT CRRGCNU KP &GEGODGT
+P &GEGODGT
*QPI -QPI RQNKEG
QHHKEGTU VKRRGF QHH D[ VJG OCKPNCPF CWVJQTKVKGU JCF FGVCKPGF VYQ EQPVCKPGTU CV C UJKRRKPI VGTOKPCN VJCV
UWRRQUGFN[ EQPVCKPGF FTWIU CPF YGTG DQWPF HQT /CPKNC *QYGXGT C UGPKQT KPURGEVQT KP *QPI -QPI U PCTEQVKEU
DWTGCW NCVGT YTQVG VQ TGNCVKXGU QH .KGP 5WPI EJKPI UC[KPI VJCV PQ FTWIU JCF DGGP HQWPF CPF VJCV VJG
EQPVCKPGTU JCF DGGP UGPV DCEM VQ VJG EQORCP[ VJCV QYPGF VJGO
)WCPIFQPI RWDNKE UGEWTKV[ CIGPVU JCF CTTGUVGF DQVJ OGP KP &GEGODGT
CPF CEEWUGF VJGO QH UGPFKPI
MI QH ET[UVCN OGVJCORJGVCOKPG VQ VJG 2JKNKRRKPGU HTQO VJG OCKPNCPF XKC *QPI -QPI &WTKPI VJG CRRGCN
VJG )WCPIFQPI 2TQXKPEKCN 2GQRNGoU %QWTV TGLGEVGF VJG NGVVGT DGECWUG KV FKF PQV JCXG CP QHHKEKCN RQNKEG UVCOR
CPF DGECWUG *QPI -QPI RQNKEG NCVGT UCKF VJG NGVVGT JCF DGGP YTKVVGP KP GTTQT 6JG RQNKEG HQTEG CRQNQIK\GF VQ
HCOKN[ OGODGTU QH VJG FGHGPFCPVU *QYGXGT VJG NGVVGT TCKUGF UGTKQWU FQWDVU CU VQ VJG GXKFGPEG WUGF VQ EQPXKEV
VJG OGP QH FTWI VTCHHKEMKPI
.KGP 5WPI EJKPI YCU CDNG VQ OGGV YKVJ JKU HCOKN[ DGHQTG VJG GZGEWVKQP *QYGXGT JKU HCOKN[ UCKF VJCV VJG[ JCF
PQV DGGP CNNQYGF VQ XKUKV JKO KP RTKUQP 6JG CWVJQTKVKGU KPHQTOGF .KGP 5WP EJKPIoU NCY[GT QH VJG 5WRTGOG
2GQRNGoU %QWTV FGEKUKQP *QYGXGT VJG[ FKF PQV KPHQTO VJG NCY[GT QT VJG HCOKN[ QH VJG FCVG QH GZGEWVKQP
1P
,WPG %JKPCoU 5VCVG %QWPEKN +PHQTOCVKQP 1HHKEG RWDNKUJGF VJG 0CVKQPCN *WOCP 4KIJVU
#EVKQP 2NCP QH %JKPC
6JG RNCP KPENWFGU OGCUWTGU CKOGF CV UVTGPIVJGPKPI
UCHGIWCTFU KP CNN ECRKVCN ECUGU UWEJ CU QRGPKPI VTKCN RTQEGGFKPIU KP CRRGCN EQWTVU VQ VJG
RWDNKE CNNQYKPI HQT VJG GZCOKPCVKQP QH VJG FGHGPFCPV IKXKPI VJG FGHGPFCPVoU CVVQTPG[ VJG
EJCPEG VQ GZRTGUU JKU QT JGT QRKPKQP CPF RWDNKUJKPI MG[ LWFIGOGPVU HTQO VJG 5WRTGOG
2GQRNGoU %QWTV YKVJ C XKGY VQ ENCTKH[KPI PQTOU QH VJG CRRNKECVKQP QH VJG FGCVJ RGPCNV[
#OGPFOGPVU VQ VJG %TKOKPCN 2TQEGFWTG .CY VJCV YGTG CRRTQXGF D[ VJG 0CVKQPCN 2GQRNG U
%QPITGUU QP
/CTEJ GPVGTKPI KPVQ HQTEG QP ,CPWCT[
YQWNF CNNQY VJG 5WRTGOG
2GQRNGoU %QWTV VQ COGPF FGCVJ UGPVGPEGU KP CNN ECUGU 6JG COGPFOGPVU YQWNF OCMG KV
OCPFCVQT[ VQ TGEQTF QT XKFGQVCRG KPVGTTQICVKQPU QH UWURGEVU RQVGPVKCNN[ HCEKPI VJG FGCVJ
RGPCNV[ QT NKHG KORTKUQPOGPV 6JG[ YQWNF TGSWKTG VJG EQWTVU RTQUGEWVQTU CPF VJG RQNKEG VQ
PQVKH[ NGICN CKF QHHKEGU VQ CUUKIP C FGHGPEG NCY[GT VQ CNN ETKOKPCN UWURGEVU CPF FGHGPFCPVU YJQ
HCEG RQVGPVKCN FGCVJ UGPVGPEGU QT NKHG KORTKUQPOGPV CPF YJQ JCXG PQV [GV CRRQKPVGF NGICN
EQWPUGN *QYGXGT VJGTG KU PQ EQPEQOKVCPV TGURQPUKDKNKV[ QH VJG NGICN CKF QTICPK\CVKQPU VQ

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

TGURQPF PQT KU VJGTG C VKOG HTCOG HQT VJG EQORNKCPEG QH VJG QTICPK\CVKQPU UVKRWNCVGF KP VJG
COGPFGF NCY .GICN UEJQNCTU YKVJKP %JKPC JCXG ECNNGF HQT ITGCVGT ENCTKHKECVKQP VQ GUVCDNKUJ
DG[QPF FQWDV KP VJG NCY VJCV NGICNN[ CKFGF FGHGPEG KU CXCKNCDNG CV CNN UVCIGU QH VJG RTQEGUU KP
ECRKVCN ECUGU 6JG[ JCXG CNUQ ECNNGF HQT ENGCTGT FGNKPGCVKQP QH VJG TQNG CPF TGURQPUKDKNKV[ QH
FGHGPEG NCY[GTU KP VJG CRRGCN CPF HKPCN TGXKGY RTQEGUU
+P 0QXGODGT VJG CWVJQTKVKGU CPPQWPEGF VJCV C XQNWPVCT[ QTICP FQPCVKQP U[UVGO YQWNF DG
NCWPEJGF PCVKQPYKFG KP GCTN[
VQ RJCUG QWV TGNKCPEG QP QTICPU TGOQXGF HTQO GZGEWVGF
RTKUQPGTU
+PFKC ECTTKGF QWV KVU HKTUV GZGEWVKQP UKPEG
HNQWVKPI VJG TGIKQPCN CPF INQDCN VTGPF VQYCTFU
CDQNKVKQP QH VJG FGCVJ RGPCNV[ #LOCN -CUCD VJG 2CMKUVCPK IWPOCP EQPXKEVGF QH CPF
UGPVGPEGF VQ FGCVJ HQT JKU KPXQNXGOGPV KP VJG
/WODCK CVVCEMU YCU GZGEWVGF QP
0QXGODGT #V NGCUV
PGY FGCVJ UGPVGPEGU YGTG KORQUGF CPF OQTG VJCP
RGQRNG
TGOCKPGF QP FGCVJ TQY CV VJG GPF QH VJG [GCT
#HVGT CUUWOKPI QHHKEG KP NCVG
2TGUKFGPV 2TCPCD /WMJGTLGG TGLGEVGF #LOCN -CUCDoU
OGTE[ RGVKVKQP CPF EQOOWVGF CPQVJGT FGCVJ UGPVGPEG #EEQTFKPI VQ QHHKEKCN HKIWTGU VJG
2TGUKFGPV TGVWTPGF VJG OGTE[ RGVKVKQPU QH
RGQRNG s
OGP CPF QPG YQOCP s VQ VJG
/KPKUVT[ QH *QOG #HHCKTU HQT TGEQPUKFGTCVKQP (QWTVGGP HQTOGT LWFIGU RGVKVKQPGF VJG 2TGUKFGPV
VQ EQOOWVG
FGCVJ UGPVGPEGU VJCV VJG[ DGNKGXG YGTG YTQPIN[ KORQUGF
6JG RTQEGUU NGCFKPI WR VQ #LOCN -CUCDoU GZGEWVKQP TCKUGF UGTKQWU EQPEGTPU 6JG CWVJQTKVKGU
EQPUKFGTGF #LOCN -CUCDoU OGTE[ RGVKVKQP QWV QH VWTP KPUVGCF QH TGURGEVKPI VJG QTFGT KP YJKEJ
VJG RGVKVKQPU JCF DGGP HKNGF (WTVJGTOQTG VJG GZGEWVKQP YCU QPN[ CPPQWPEGF VQ VJG RWDNKE
CHVGT KV JCF DGGP ECTTKGF QWV KP XKQNCVKQP QH KPVGTPCVKQPCN UVCPFCTFU 6JG +PFKCP *QOG
/KPKUVGT VJGP RWDNKEN[ UVCVGF VJG[ JCF VCMGP VJKU CEVKQP VQ CXQKF KPVGTXGPVKQP HTQO JWOCP
TKIJVU CEVKXKUVU
+P 0QXGODGT VJG 5WRTGOG %QWTV EQOOWVGF VJG FGCVJ UGPVGPEGU QH VYQ RTKUQPGTU VQ NKHG
KORTKUQPOGPV +V HQWPF VJCV QPG QH VJG ETKVGTKC HQT RCUUKPI FGCVJ UGPVGPEGU KP +PFKC s VJCV
VJG[ ECP QPN[ DG KORQUGF KH VJG CNVGTPCVKXG UGPVGPEG QH NKHG KORTKUQPOGPV KU pWPSWGUVKQPCDN[
HQTGENQUGFq s JCF PQV DGGP OGV +V CNUQ WTIGF C TGXKGY QH VJG UGPVGPEKPI RTKPEKRNGU
WPFGTRKPPKPI VJG CRRNKECVKQP QH VJG FGCVJ RGPCNV[ 6JG 5WRTGOG %QWTV TGOQXGF OCPFCVQT[
FGCVJ UGPVGPEGU HQT VJG WUG QH RTQJKDKVGF HKTGCTOU TGUWNVKPI KP FGCVJ
#V KVU 7PKXGTUCN 2GTKQFKE 4GXKGY 724 CV VJG 70 *WOCP 4KIJVU %QWPEKN QP
/C[ +PFKC
UVCVGF VJCV VJG FGCVJ RGPCNV[ YCU KORQUGF YKVJ UVTQPI RTQEGFWTCN UCHGIWCTFU YJGP NKHG
KORTKUQPOGPV CRRGCTGF KPCFGSWCVG CPF VJCV VJG 2TGUKFGPV QH +PFKC CPF UVCVG IQXGTPQTU JCF
VJG RQYGT VQ ITCPV RCTFQPU TGRTKGXGU TGOKUUKQP QT UWURGPUKQP HQT CP[ QHHGPEG +PFKC FKF PQV
UWRRQTV TGEQOOGPFCVKQPU OCFG D[ VJG 7P *WOCP 4KIJVU %QWPEKN VQ GUVCDNKUJ C OQTCVQTKWO
QP GZGEWVKQPU YKVJ C XKGY VQ CDQNKUJKPI VJG FGCVJ RGPCNV[ TGURGEV VJG OQTCVQTKWO QP VJG
FGCVJ RGPCNV[ YJKEJ JCF DGGP KP RNCEG UKPEG
CPF EQPUKFGT CFJGTKPI VQ VJG 5GEQPF
1RVKQPCN 2TQVQEQN VQ VJG +%%24
0Q GZGEWVKQPU JCXG DGGP ECTTKGF QWV KP +PFQPGUKC UKPEG
#V NGCUV
PGY FGCVJ
UGPVGPEGU YGTG KORQUGF CPF CV NGCUV
RGQRNG YGTG QP FGCVJ TQY CV VJG GPF QH VJG [GCT
1XGT JCNH QH VJQUG QP FGCVJ TQY OCP[ QH YJQO YGTG HQTGKIP PCVKQPCNU JCF DGGP EQPXKEVGF QH

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

FTWI VTCHHKEMKPI #EEQTFKPI VQ KPHQTOCVKQP RTQXKFGF D[ +PFQPGUKCP CWVJQTKVKGU
YGTG WPFGT UGPVGPEG QH FGCVJ CU QH
&GEGODGT

RGQRNG

1P
/C[ RTQUGEWVQTU CUMGF HQT C NKHG UGPVGPEG TCVJGT VJCP VJG FGCVJ RGPCNV[ KP VJG JKIJ
RTQHKNG ECUG QH 7OCT 2CVGM VJG OCP CEEWUGF QH RTGOGFKVCVGF OWTFGT KP TGNCVKQP VQ VYQ
UGRCTCVG DQOD CVVCEMU KP
CPF
VJCV MKNNGF
RGQRNG
#EEQTFKPI VQ HKIWTGU TGNGCUGF D[ VJG %QQTFKPCVKPI 2QNKVKECN .GICN CPF 5GEWTKV[ #HHCKTU
/KPKUVGT &LQMQ 5W[CPVQ KP ,WPG VJG /KITCPV 9QTMGTU 2TQVGEVKQP VCUM HQTEG UGV WR KP
VQ
JGNR +PFQPGUKCP PCVKQPCNU YQTMKPI CDTQCF JGNRGF EQOOWVG VJG FGCVJ UGPVGPEGU QH CV NGCUV
+PFQPGUKCP OKITCPV YQTMGTU KP %JKPC +TCP /CNC[UKC CPF 5CWFK #TCDKC
1P
,WPG VJG %QPUVKVWVKQPCN %QWTV TGLGEVGF CP CRRGCN D[ VYQ FGCVJ TQY KPOCVGU VQ TGXKGY
#TVKENG
CPF UWD #TVKENG QH VJG %TKOKPCN %QFG WPFGT YJKEJ VJG[ JCF DGGP EQPXKEVGF
CPF UGPVGPEGF VQ FGCVJ 6JG CRRGCN UQWIJV VQ TGOQXG VJG FGCVJ RGPCNV[ CU VJG OCZKOWO
CXCKNCDNG RWPKUJOGPV HQT C ITQWR QH VYQ QT OQTG RGQRNG YJQ VQIGVJGT ECWUG UGXGTG KPLWT[ QT
FGCVJ VQ C XKEVKO VJTQWIJ VJGHV
6JG 5WRTGOG %QWTV EQPHKTOGF QP
5GRVGODGT VJCV C RCPGN QH KVU LWFIGU JCF TGXQMGF VJG
FGCVJ RGPCNV[ KORQUGF HQT FTWI TGNCVGF QHHGPEGU QP *GPIM[ )WPCYCP NCUV #RTKN 6JG RCPGN
HQWPF VJG FGCVJ UGPVGPEG KP JKU ECUG XKQNCVGF #TVKENG QH VJG 7PKXGTUCN &GENCTCVKQP QH *WOCP
4KIJVU CU YGNN CU #TVKENG
QH VJG +PFQPGUKCP %QPUVKVWVKQP DQVJ QH YJKEJ UVCVG VJCV GXGT[QPG
JCU VJG TKIJV VQ NKHG 6JG LWFIGOGPV CNUQ UVCVGF VJCV VJG RWTRQUG QH ETKOKPCN UGPVGPEKPI YCU
VQ GFWECVG EQTTGEV CPF RTGXGPV CFFKVKQPCN YTQPIFQKPI 6JG 2TGUKFGPV QH +PFQPGUKC EQOOWVGF
CV NGCUV VYQ FGCVJ UGPVGPEGU KP
#V KVU 724 QP
/C[ +PFQPGUKC TGLGEVGF TGEQOOGPFCVKQPU VQ OCMG QHHKEKCN VJG OQTCVQTKWO
QP GZGEWVKQPU VJCV JCU DGGP KP RNCEG UKPEG
YKVJ C XKGY VQ CDQNKUJKPI VJG FGCVJ RGPCNV[
+V UVCVGF VJCV VJG FGCVJ RGPCNV[ YCU TGICTFGF CU C NCUV TGUQTV KORQUGF UGNGEVKXGN[ QPN[ HQT
UGTKQWU ETKOGU +V PQVGF VJCV VJGTG JCF DGGP RWDNKE FGDCVGU QP VJG FGCVJ RGPCNV[ KP VJG
EQWPVT[ CPF VJCV VJG KUUWG JCF DGGP TGHGTTGF VQ VJG %QPUVKVWVKQPCN %QWTV KP
HQT LWFKEKCN
TGXKGY 6JG %QWTV TWNGF VJCV WUG QH VJG FGCVJ RGPCNV[ FKF PQV EQPVTCFKEV VJG %QPUVKVWVKQP
9JGP VJG 70 )GPGTCN #UUGODN[ CFQRVGF KVU HQWTVJ TGUQNWVKQP QP C OQTCVQTKWO QP VJG WUG QH
VJG FGCVJ RGPCNV[ QP
&GEGODGT +PFQPGUKC EJCPIGF KVU XQVG HTQO CICKPUV VQ CDUVGPVKQP

<WNHKSCT #NK C VGZVKNG YQTMGT HTQO 2CMKUVCP YCU UGPVGPEGF VQ FGCVJ KP ,WPG
CHVGT CP WPHCKT VTKCN HQT
RQUUGUUKPI
I QH JGTQKP &WTKPI JKU VTKCN VJG EQWTV TGLGEVGF C YKVPGUU UVCVGOGPV YJKEJ CFOKVVGF VJCV VJG
FTWIU FKF PQV DGNQPI VQ JKO DGECWUG VJG UVCVGOGPV JCF PQV DGGP FCVGF &WTKPI JKU RTG VTKCN FGVGPVKQP
<WNHKSCT #NK YCU FGPKGF C NCY[GT KP XKQNCVKQP QH KPVGTPCVKQPCN JWOCP TKIJVU UVCPFCTFU CPF +PFQPGUKCoU QYP
NCY *G YCU CNUQ TGHWUGF VJG TKIJV VQ EQPVCEV VJG 2CMKUVCP 'ODCUU[ KP XKQNCVKQP QH VJG 8KGPPC %QPXGPVKQP QP
%QPUWNCT 4GNCVKQPU
<WNHKSCT #NK YCU QPN[ CNNQYGF CEEGUU VQ C NCY[GT QPG OQPVJ CHVGT JKU CTTGUV *G UVCVGF VJCV JG JCF DGGP DGCVGP
CNOQUV FCKN[ HTQO JKU CTTGUV QP 0QXGODGT
VQ ,CPWCT[
D[ QHHKEGTU HTQO VJG $CPFCTC 5QGMCTPQ
*CVVC FKUVTKEV RQNKEG *G CNUQ UCKF VJCV JG JCF DGGP VQTVWTGF CPF QVJGTYKUG KNN VTGCVGF KP FGVGPVKQP WPVKN JG
UKIPGF C EQPHGUUKQP *G NCVGT PGGFGF UVQOCEJ CPF MKFPG[ UWTIGT[ DGECWUG QH VJG DGCVKPIU CPF KU EWTTGPVN[ KP
RQQT JGCNVJ

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

<WNHKSCT #NKoU CRRGCNU VQ VJG *KIJ %QWTV CPF VQ VJG 5WRTGOG %QWTV YGTG TGLGEVGF CPF JG TGOCKPU WPFGT
UGPVGPEG QH FGCVJ CV -GFWPI 2CPG 2TKUQP KP %GPVTCN ,CXC 2TQXKPEG 4GRQTVGFN[ PQ OCVGTKCN GXKFGPEG JCU GXGT
DGGP DTQWIJV CICKPUV JKO
6JTGG RTKUQPGTU YGTG GZGEWVGF QP
/CTEJ KP ,CRCP GPFKPI C
OQPVJ JKCVWU VJGTG 6JG
VJGP ,WUVKEG /KPKUVGT 6QUJKQ 1ICYC CWVJQTK\GF VJG GZGEWVKQPU LWUVKH[KPI VJG CEV CU JKU FWV[
CU /KPKUVGT 5KZ OGP CPF QPG YQOCP YGTG GZGEWVGF NCUV [GCT CPF VJTGG RGQRNG YGTG
UGPVGPEGF VQ FGCVJ
RGQRNG TGOCKPGF WPFGT UGPVGPEG QH FGCVJ CV VJG GPF QH VJG [GCT

;WMKPQTK /CVUWFC YCU UGPVGPEGF VQ FGCVJ D[ VJG -WOCOQVQ &KUVTKEV %QWTV KP 5GRVGODGT
HQT VJG OWTFGT
QH VYQ RGQRNG *G YCU GZGEWVGF CV VJG (WMWQMC &GVGPVKQP %GPVTG QP 5GRVGODGT *G JCF YKVJFTCYP JKU
CRRGCN VQ VJG 5WRTGOG %QWTV KP #RTKN
+P ,CRCP VJGTG KU PQ OCPFCVQT[ CRRGCN KP FGCVJ RGPCNV[ ECUGU
TCKUKPI SWGUVKQPU CU VQ YJGVJGT VJG PGEGUUCT[ NGICN TGSWKTGOGPVU YGTG OGV KP JKU ECUG
#V ,CRCPoU 724 QP
1EVQDGT VJG EQWPVT[oU FGNGICVKQP UVCVGF VJCV VJG OCLQTKV[ QH ,CRCPGUG
RGQRNG EQPUKFGTGF VJG FGCVJ RGPCNV[ VQ DG WPCXQKFCDNG KP ECUGU QH XKEKQWU ETKOG CPF IKXGP
VJCV VJGTG UGGOGF VQ DG PQ GPF VQ UWEJ ETKOGU KV TGICTFGF VJG KOOGFKCVG CDQNKVKQP QH VJG
FGCVJ RGPCNV[ CU KPCRRTQRTKCVG +V HWTVJGT UVCVGF VJCV EQPHKPGOGPV QH FGCVJ TQY RTKUQPGTU KP C
UKPING TQQO
JQWTU RGT FC[ CU VJG NCY UVKRWNCVGF YCU PQV C XKQNCVKQP QH VJGKT JWOCP TKIJVU
CPF VJCV UWEJ VTGCVOGPV YCU KORQUGF YKVJ C XKGY VQ GPUWTKPI VJG RTKUQPGTUo GOQVKQPCN
UVCDKNKV[ ,CRCPoU FGNGICVKQP CITGGF VQ RTQXKFG CP CPUYGT DGHQTG VJG
PF UGUUKQP QH VJG 70
*WOCP 4KIJVU %QWPEKN KP /CTEJ
VQ TGEQOOGPFCVKQPU VQ TCVKH[ VJG UGEQPF 1RVKQPCN
2TQVQEQN VQ VJG +%%24 GPEQWTCIG C FGGR PCVKQPYKFG FKCNQIWG QP VJG FGCVJ RGPCNV[ QRGP VQ
CNN UVCMGJQNFGTU CPF XKGYU CDQNKUJ VJG FGCVJ RGPCNV[ QT GUVCDNKUJ C OQTCVQTKWO QP KVU WUG
CPF TGXKGY VJG FCK[Q MCPIQMW U[UVGO YJKEJ CNNQYU RQNKEG VQ FGVCKP RTKUQPGTU HQT WR VQ
FC[U VQ GPUWTG VJCV CNN RGQRNG FGRTKXGF QH NKDGTV[ CTG DTQWIJV VQ LWUVKEG YKVJQWV FGNC[
6JG GNGEVKQPU QP
&GEGODGT YGTG YQP D[ 5JKP\Q #DG YJQUG .KDGTCN &GOQETCVKE 2CTV[
HCXQWTU WUG QH VJG FGCVJ RGPCNV[
#V NGCUV
FGCVJ UGPVGPEGU YGTG MPQYP VQ JCXG DGGP KORQUGF KP /CNC[UKC DWV KV YCU PQV
RQUUKDNG VQ EQPHKTO C HKIWTG HQT GZGEWVKQPU /QTG VJCP
RGQRNG YGTG WPFGT UGPVGPEG QH
FGCVJ CV VJG GPF QH VJG [GCT 6JG FGCVJ RGPCNV[ EQPVKPWGF VQ DG KORQUGF OCPFCVQTKN[
KPENWFKPI HQT FTWI TGNCVGF QHHGPEGU CPF FKURTQRQTVKQPCVGN[ CICKPUV HQTGKIP PCVKQPCNU
1P
(GDTWCT[ /CNC[UKC GZVTCFKVGF 5CWFK DNQIIGT *CO\C -CUJICTK VQ 5CWFK #TCDKC *G JCF
DGGP CEEWUGF D[ RTQOKPGPV ENGTKEU VJGTG QH CRQUVCU[ s C ECRKVCN ETKOG WPFGT 5CWFK #TCDKCP
NCY s HQNNQYKPI UVCVGOGPVU JG JCF RQUVGF QP 6YKVVGT YJKEJ VJG[ FGGOGF VQ DG KPUWNVKPI
VQYCTFU VJG 2TQRJGV /QJCOOGF
+P ,WN[ VJG /CNC[UKCP IQXGTPOGPV CPPQWPEGF RNCPU VQ TGXKGY KVU OCPFCVQT[ NCYU TGNCVKPI VQ
FTWI QHHGPEGU 4GRQTVU KP 1EVQDGT UWIIGUVGF VJCV KV RNCPPGF VQ TGRNCEG VJG FGCVJ RGPCNV[ YKVJ
RTKUQP VGTOU CU RWPKUJOGPV HQT UWEJ QHHGPEGU
/CNFKXGUo EQORNKCPEG YKVJ KVU QDNKICVKQPU WPFGT VJG +%%24 YCU TGXKGYGF D[ VJG 70 *WOCP
4KIJVU %QOOKVVGG KP ,WN[ 6JG %QOOKVVGG PQVGF VJCV /CNFKXGU JCF CFQRVGF C OQTCVQTKWO QP
VJG FGCVJ RGPCNV[ DWV JCF PQV [GV CDQNKUJGF KV +V GZRTGUUGF EQPEGTP CDQWV C FTCHV DKNN VQ
COGPF 5GEVKQP
QH VJG %NGOGPE[ CPF 2CTFQPKPI #EV VJG DKNN TGSWKTGU VJG 5WRTGOG %QWTV

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

VQ WRJQNF FGCVJ UGPVGPEGU HQT EGTVCKP ETKOGU CPF YQWNF RTGXGPV VJG 2TGUKFGPV HTQO ITCPVKPI
ENGOGPE[ CU RTQXKFGF HQT KP #TVKENG
QH VJG %QPUVKVWVKQP 6JG DKNN TGOCKPGF RGPFKPI CV VJG
GPF QH VJG [GCT 6JG %QOOKVVGG TGEQOOGPFGF VJCV /CNFKXGU EQPUKFGT CDQNKUJKPI VJG FGCVJ
RGPCNV[ TCVKH[KPI VJG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG +%%24 CPF TGOQXKPI OCPFCVQT[ FGCVJ
UGPVGPEGU HTQO KVU UVCVWVG DQQMU
1P
/CTEJ /QPIQNKC CEEGFGF VQ VJG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG +%%24 6JG
TCVKHKECVKQP QH VJG KPVGTPCVKQPCN VTGCV[ YCU UVKNN VQ DG KORNGOGPVGF KP PCVKQPCN NGIKUNCVKQP CV
VJG GPF QH VJG [GCT 6JG 2TGUKFGPV EQOOWVGF PKPG FGCVJ UGPVGPEGU
#V NGCUV
FGCVJ UGPVGPEGU YGTG KORQUGF KP /[CPOCT 1P ,CPWCT[
OGP CPF VYQ
YQOGP JCF VJGKT FGCVJ UGPVGPEGU EQOOWVGF VQ NKHG KORTKUQPOGPV QP VJG QEECUKQP QH VJG
VJ #PPKXGTUCT[ +PFGRGPFGPEG &C[
0QTVJ -QTGC TGRQTVGF CV NGCUV UKZ GZGEWVKQPU KP
JQYGXGT #OPGUV[ +PVGTPCVKQPCN
DGNKGXGU VJG VTWG HKIWTG VQ DG OWEJ JKIJGT 'ZGEWVKQPU QH RQNKVKECN QRRQPGPVU QH 0QTVJ -QTGCoU
PGY NGCFGT -KO ,QPI WP YGTG TGRQTVGF DWV VJGUG EQWNF PQV DG XGTKHKGF /CP[ GZGEWVKQPU KP
0QTVJ -QTGC CTG GZVTCLWFKEKCN GZGEWVKQPU ECTTKGF QWV YKVJQWV CP[ KPXGUVKICVKQP VTKCN QT
UGPVGPEKPI 6TKCNU CTG WPHCKT KP C U[UVGO YJGTG VJG LWFKEKCT[ KU PQV KPFGRGPFGPV &GCVJ
UGPVGPEGU JCXG DGGP MPQYP VQ DG JCPFGF FQYP HQT ETKOGU YJKEJ FQ PQV ECTT[ VJG FGCVJ
RGPCNV[ WPFGT 0QTVJ -QTGCP NCY 0QTVJ -QTGC ECTTKGU QWV GZGEWVKQPU KP RWDNKE CU YGNN CU KP
UGETGV
-KO ,QPI WP ECNNGF HQT C ETCEMFQYP QP RGQRNG ECWIJV VT[KPI VQ ETQUU VJG DQTFGT KPVQ %JKPC
6JKU CRRGCTU VQ JCXG NGF VQ KPETGCUGF PWODGTU QH GZVTCLWFKEKCN GZGEWVKQPU D[ DQTFGT IWCTFU VQ
RTGXGPV RGQRNG HTQO NGCXKPI 0QTVJ -QTGC 2GQRNG HQTEKDN[ TGRCVTKCVGF HTQO %JKPC HCEGF VJG
TKUM QH FGVGPVKQP VQTVWTG CPF QVJGT KNN VTGCVOGPV CPF FGCVJ
2CMKUVCP ECTTKGF QWV KVU HKTUV GZGEWVKQP UKPEG
QP
0QXGODGT YJGP VJG OKNKVCT[
CWVJQTKVKGU GZGEWVGF UQNFKGT /WJCOOGF *WUUCKP HQT VJG MKNNKPI QH C UWRGTKQT QHHKEGT CPF VYQ
QVJGTU )QXGTPOGPV QHHKEKCNU VQNF #OPGUV[ +PVGTPCVKQPCN VJCV VJG GZGEWVKQP YCU C OKNKVCT[ ECUG
CPF TCP EQWPVGT VQ GZKUVKPI RQNKE[ QH VJG IQXGTPOGPV QH 2CMKUVCP
/QTG VJCP
RGQRNG YGTG QP FGCVJ TQY CV VJG GPF QH VJG [GCT CPF
PGY FGCVJ
UGPVGPEGU YGTG KORQUGF 1P
,WPG VJG 2CMKUVCPK CWVJQTKVKGU CPPQWPEGF VJCV +PFKCP
PCVKQPCN 5CTCDLKV 5KPIJ YQWNF DG TGNGCUGF HQNNQYKPI EQOOWVCVKQP QH JKU UGPVGPEG 6JG PGZV
FC[ KV GOGTIGF VJCV VJG CWVJQTKVKGU JCF EQPHWUGF 5CTCDLKV 5KPIJ YKVJ CPQVJGT RTKUQPGT FWG VQ
DG TGNGCUGF
6JG CWVJQTKVKGU UEJGFWNGF VJG GZGEWVKQP QH 2CMKUVCP PCVKQPCN $GJTCO -JCP HQT
,WPG KP
-CTCEJK *G JCF DGGP UGPVGPEGF VQ FGCVJ D[ CP #PVK 6GTTQTKUO %QWTV QP
,WPG
HQT
VJG OWTFGT QH NCY[GT /QJCOOCF #UJTCH 6JG GZGEWVKQP YCU RQUVRQPGF
4GRQTVU KPFKECVGF VJCV HKXG RTKUQPGTU KP /CEJ ,CKN $CNQEJKUVCP YGTG QP FGCVJ TQY HQT ETKOGU
EQOOKVVGF YJKNG VJG[ YGTG LWXGPKNGU +P ,WN[ VJG IQXGTPOGPV DGICP EQPUWNVCVKQPU QP C
FTCHV RCTNKCOGPVCT[ DKNN VQ EQOOWVG CNN FGCVJ UGPVGPEGU VQ NKHG KORTKUQPOGPV
#V KVU 724 QP

1EVQDGT 2CMKUVCP CITGGF VQ RTQXKFG CP CPUYGT DGHQTG VJG

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

PF UGUUKQP QH

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

VJG 70 *WOCP 4KIJVU %QWPEKN KP /CTEJ
VQ TGEQOOGPFCVKQPU VQ TGRGCN CNN RTQXKUKQPU
RTQXKFKPI HQT OCPFCVQT[ FGCVJ UGPVGPEGU YKVJ C XKGY VQ CDQNKUJKPI VJGO FGENCTG CP QHHKEKCN
OQTCVQTKWO QP VJG FGCVJ RGPCNV[ CPF CDQNKUJ KV HTQO PCVKQPCN NGIKUNCVKQP
0Q GZGEWVKQPU YGTG TGEQTFGF KP 5KPICRQTG CV NGCUV VYQ RGQRNG YGTG UGPVGPEGF VQ FGCVJ #V
NGCUV
RGQRNG YGTG WPFGT UGPVGPEG QH FGCVJ CV VJG GPF QH VJG [GCT
1P ,WN[ VJG IQXGTPOGPV CPPQWPEGF KV JCF KPVTQFWEGF KPVQ 2CTNKCOGPV NGIKUNCVKXG
COGPFOGPVU VQ CDQNKUJ VJG OCPFCVQT[ KORQUKVKQP QH VJG FGCVJ RGPCNV[ WPFGT EGTVCKP
EKTEWOUVCPEGU CPF VJCV GZGEWVKQPU YGTG IQKPI VQ DG UWURGPFGF WPVKN VJG DKNNU JCF DGGP
EQPUKFGTGF 6JG /KUWUG QH &TWIU #OGPFOGPV #EV
CPF VJG 2GPCN %QFG #OGPFOGPV
#EV
YGTG CFQRVGF D[ 2CTNKCOGPV QP
0QXGODGT
7PFGT VJG COGPFGF NGIKUNCVKQP EQWTVU CTG PQY IKXGP VJG FKUETGVKQP PQV VQ KORQUG VJG FGCVJ
RGPCNV[ KP EGTVCKP EKTEWOUVCPEGU +P OWTFGT ECUGU VJG FGHGPFCPV OC[ PQY DG URCTGF VJG
FGCVJ RGPCNV[ KH VJG[ RTQXG VJCV VJG[ FKF PQV KPVGPF VQ ECWUG FGCVJ +P FTWI TGNCVGF ECUGU
VJKU YQWNF JCRRGP KH VJG FGHGPFCPV JCF QPN[ DGGP KPXQNXGF KP VTCPURQTVKPI UGPFKPI QT
FGNKXGTKPI CP KNNKEKV UWDUVCPEG QT JCF QPN[ QHHGTGF VQ EQOOKV VJGUG CEVU 'SWCNN[ FGHGPFCPVU
YQWNF DG URCTGF VJG FGCVJ RGPCNV[ KH VJG[ RTQXGF VJCV VJG[ YGTG UWHHGTKPI HTQO pUWEJ
CDPQTOCNKV[ QH OKPF e CU UWDUVCPVKCNN[ KORCKTGF JKU OGPVCN TGURQPUKDKNKV[ HQT JKU CEVU CPF
QOKUUKQPUeq
9JKNG VJGUG TGUVTKEVKQPU VQ VJG KORQUKVKQP QH VJG OCPFCVQT[ FGCVJ RGPCNV[ CTG C YGNEQOG UVGR
RTQRQUGF OGCUWTGU FQ PQV EQPHQTO VQ JWOCP TKIJVU NCY CPF UVCPFCTFU RCTVKEWNCTN[ VJG
KPENWUKQP WUG QH ECPKPI CU C HQTO QH CNVGTPCVKXG RWPKUJOGPV CPF VJG KPENWUKQP QH RGTUQPU
YKVJ OGPVCN FKUCDKNKVKGU COQPI VJQUG CICKPUV YJQO VJG FGCVJ RGPCNV[ OC[ DG KORQUGF
(WTVJGTOQTG HQT FGHGPFCPVU VQ DG URCTGF VJG FGCVJ RGPCNV[ VJG 2WDNKE 2TQUGEWVQT JCU VQ DG
UCVKUHKGF VJCV VJG FGHGPFCPVU JCXG UWDUVCPVKXGN[ CUUKUVGF VJG %GPVTCN 0CTEQVKEU $WTGCW KP
FKUTWRVKPI FTWI VTCHHKEMKPI CEVKXKVKGU
(QNNQYKPI VJG CFQRVKQP QH VJG NGICN COGPFOGPVU VJG #VVQTPG[ )GPGTCNoU %JCODGTU
CPPQWPEGF VJCV
FGCVJ TQY KPOCVGU YQWNF JCXG CP QRRQTVWPKV[ VQ KPVTQFWEG PGY GXKFGPEG
VQ RTQXG VJCV VJG[ UCVKUH[ VJG EQPFKVKQPU HQT VJGKT UGPVGPEG VQ DG TGXKGYGF

/CNC[UKCP ;QPI 8WK -QPI TGOCKPU CV TKUM QH GZGEWVKQP KP 5KPICRQTG ;QPI 8WK -QPI YJQ YCU [GCTU QNF YJGP
CTTGUVGF KP
YCU IKXGP C OCPFCVQT[ FGCVJ UGPVGPEG HQT RQUUGUUKQP QH I QH JGTQKP 7PFGT 5KPICRQTGoU
NCYU CV VJG VKOG QH JKU UGPVGPEKPI VJKU COQWPVGF VQ FTWI VTCHHKEMKPI CPF YCTTCPVGF VJG OCPFCVQT[ FGCVJ
RGPCNV[ ;QPI 8WK -QPI YCU C EQWTKGT +P C RQNKEG UVCVGOGPV JG KFGPVKHKGF VJG CNNGIGF OCUVGTOKPF QH VJG
QRGTCVKQP YJQ EQORGNNGF JKO VQ VTCPURQTV VJG EQPVTQNNGF FTWIU VQ 5KPICRQTG 6JG EJCTIGU CICKPUV VJG CNNGIGF
OCUVGTOKPF JCF DGGP YKVJFTCYP ;QPI 8WK -QPI KU COQPI RTKUQPGTU YJQUG ECUGU CTG RGPFKPI TGXKGY
HQNNQYKPI VJG CFQRVKQP QH VJG COGPFOGPVU VQ VJG /KUWUG QH &TWIU #OGPFOGPV #EV
6YQ PGY FGCVJ UGPVGPEGU YGTG KORQUGF KP 5QWVJ -QTGC CPF
RGQRNG TGOCKPGF QP FGCVJ
TQY CV VJG GPF QH VJG [GCT 6JTGG DKNNU VQ CDQNKUJ VJG FGCVJ RGPCNV[ VJCV YGTG KPVTQFWEGF CV
VJG 0CVKQPCN #UUGODN[ KP
CPF
NCRUGF YJGP VJG 0CVKQPCN #UUGODN[ YGPV KP
TGEGUUKQP KP /C[
#V KVU 724 QP

+PFGZ #%6

1EVQDGT 5QWVJ -QTGC UVCVGF VJCV VJG IQXGTPOGPV VJTQWIJ VJG 5RGEKCN 5WD

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

%QOOKVVGG QP 4GXKUKQP QH VJG %TKOKPCN #EV CP CFXKUQT[ DQF[ VQ VJG /KPKUVGT QH ,WUVKEG
YQWNF TGXKGY VJG PGGF VQ TGXKUG VJG NCYU YJKEJ KPENWFG VJG FGCVJ RGPCNV[ CU UVCVWVQT[
UGPVGPEKPI +V CFFGF VJCV KV HQWPF KV FKHHKEWNV VQ TCVKH[ VJG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG
+%%24 CKOKPI CV VJG CDQNKVKQP QH VJG FGCVJ RGPCNV[
5TK .CPMC VQQM UVGRU VQYCTFU TGUWOKPI GZGEWVKQPU 4GRQTVU UWIIGUVGF VJCV 4GJCDKNKVCVKQP CPF
2TKUQP 4GHQTOU /KPKUVGT %JCPFTCUKTK )CLCFGGTC JCF CFXGTVKUGF HQT VYQ XCECPEKGU HQT
JCPIOGP %JKNF &GXGNQROGPV CPF 9QOGPoU #HHCKTU /KPKUVGT 6KUUC -CTCNK[CFFC VQNF VJG
PGYURCRGT 6JG 0CVKQP KP ,WN[ VJCV UJG JQRGF VQ RTGUGPV C ECDKPGV OGOQTCPFWO TGSWGUVKPI
CP COGPFOGPV VQ VJG NCYU VQ KPENWFG TCRG COQPI QHHGPEGU RWPKUJCDNG D[ FGCVJ #V KVU 724
QP 0QXGODGT 5TK .CPMC FKF PQV UWRRQTV TGEQOOGPFCVKQPU VQ CDQNKUJ VJG FGCVJ RGPCNV[
/QTG VJCP
RGQRNG YGTG TGRQTVGFN[ WPFGT UGPVGPEG QH FGCVJ CV VJG GPF QH VJG [GCT YKVJ
CDQWV JCNH QH VJQUG UGPVGPEGU WPFGT CRRGCN 6JG NCUV GZGEWVKQP KP VJG EQWPVT[ YCU ECTTKGF QWV
KP
5KZ GZGEWVKQPU YGTG ECTTKGF QWV KP 6CKYCP QP
&GEGODGT CPF UGXGP PGY FGCVJ UGPVGPEGU
YGTG KORQUGF 1H VJG
RTKUQPGTU WPFGT UGPVGPEG QH FGCVJ CV VJG GPF QH VJG [GCT
JCF
GZJCWUVGF VJGKT NGICN CRRGCNU CPF YGTG CV TKUM QH GZGEWVKQP (COKN[ OGODGTU YGTG PQV
KPHQTOGF DGHQTG GZGEWVKQPU YGTG ECTTKGF QWV 6JG[ QPN[ HQWPF QWV YJGP KPXKVGF VQ EQNNGEV VJG
DQF[ HTQO VJG OQTVWCT[ +P TGURQPUG VQ PCVKQPCN CPF KPVGTPCVKQPCN ECNNU QP VJG 2TGUKFGPV QH
6CKYCP VQ UVCPF D[ JKU EQOOKVOGPV VQ CDQNKUJ VJG FGCVJ RGPCNV[ /KPKUVGT QH (QTGKIP #HHCKTU
&CXKF .KP YCU TGRQTVGF KP VJG 6CKYCPGUG PGYURCRGT 6CKRGK 6KOGU CU UVCVKPI VJCV VJG
IQXGTPOGPV JCF PGXGT OCFG UWEJ C RTQOKUG
+P #RTKN 6CKYCP U *KIJ %QWTV SWCUJGF VJG EQPXKEVKQPU QH VJTGG OGP UGPVGPEGF VQ FGCVJ QXGT
VJG OWTFGT QH C EQWRNG
[GCTU CIQ CU KV HQWPF VJCV VJG EQPXKEVKQPU YGTG DCUGF QP
WPTGNKCDNG EQPHGUUKQPU 5GTKQWU HCKT VTKCN EQPEGTPU EQPVKPWGF VQ OCTM VJG WUG QH VJG FGCVJ
RGPCNV[ KP VJG EQWPVT[

%JKQW *Q UJWP JCU DGGP QP FGCVJ TQY KP 6CKYCP UKPEG
*G EQWNF DG GZGEWVGF CV CP[ VKOG *G YCU
CTTGUVGF KP
CNQPI YKVJ QVJGT RGQRNG KP EQPPGEVKQP YKVJ VYQ OWTFGTU #NN UC[ VJG[ YGTG JGNF
KPEQOOWPKECFQ HQT VJG HKTUV HQWT OQPVJU QH FGVGPVKQP CPF YGTG VQTVWTGF KPVQ EQPHGUUKPI %JKQW *Q UJWP UC[U
JG YCU DNKPFHQNFGF VKGF WR CPF HQTEGF VQ UKV QP KEG GNGEVTQEWVGF CPF JCF RGRRGT YCVGT RQWTGF KPVQ JKU OQWVJ
CPF PQUG 6JGUG KPVGTTQICVKQPU NCUVGF WR VQ JQWTU CV C VKOG YKVJ HKXG QT UKZ RGQRNG DGCVKPI JKO #U C TGUWNV
VJG JGCTKPI KP JKU NGHV GCT JCU DGGP UGXGTGN[ KORCKTGF CPF JG UWHHGTU OKITCKPGU (QNNQYKPI CP WPHCKT VTKCN JKU
EQ FGHGPFCPVU YGTG IKXGP RTKUQP UGPVGPEGU 1PN[ %JKQW *Q UJWP TGEGKXGF C FGCVJ UGPVGPEG +P
VYQ
RWDNKE RTQUGEWVQTU CPF RQNKEG QHHKEGTU JCPFNKPI VJG ECUG YGTG EQPXKEVGF QH GZVTCEVKPI EQPHGUUKQPU VJTQWIJ
VQTVWTG 0Q OCVGTKCN GXKFGPEG NKPMKPI %JKQW *Q UJWP QT JKU EQ FGHGPFCPVU VQ VJG ETKOGU JCU GXGT DGGP
RTQFWEGF (QNNQYKPI CP WPUWEEGUUHWN CRRGCN KP
%JKQW *Q UJWP CUMGF VJG EQWTV p+ JCXGPoV MKNNGF CP[QPG
9J[ FQPoV LWFIGU JCXG VJG EQWTCIG VQ HKPF OG PQV IWKNV[!q
+P 0QXGODGT /CPHTGF 0QYCM C HQTOGT 70 5RGEKCN 4CRRQTVGWT QP VQTVWTG CPF QVJGT ETWGN
KPJWOCP QT FGITCFKPI VTGCVOGPV QT RWPKUJOGPV CPF 'KDG 4KGFGN C OGODGT QH VJG 70
%QOOKVVGG QP 'EQPQOKE 5QEKCN CPF %WNVWTCN 4KIJVU ECNNGF QP 2TGUKFGPV /C ;KPI LGQW VQ
KORNGOGPV C OQTCVQTKWO QP GZGEWVKQPU 6JKU ECOG CJGCF QH VJGKT UEJGFWNGF XKUKV VQ 6CKYCP
KP
VQ TGXKGY VJG IQXGTPOGPVoU TGRQTV QP KORNGOGPVCVKQP QH VJG VYQ 70 *WOCP 4KIJVU
6TGCVKGU s VJG +%%24 CPF VJG +PVGTPCVKQPCN %QXGPCPV QP 'EQPQOKE 5QEKCN CPF %WNVWTCN
4KIJVU

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

(TQO &GEGODGT JGCTKPIU QH CNN FGCVJ RGPCNV[ ECUGU CV VJG 5WRTGOG %QWTV YGTG TGSWKTGF VQ
KPENWFG QTCN CTIWOGPVU QP UGPVGPEKPI CPF TGNCVGF KUUWGU D[ DQVJ RTQUGEWVKQP CPF FGHGPEG
NCY[GTU 6JG RCPGN QH LWFIGU YQWNF VJGP CNUQ VCMG KPVQ EQPUKFGTCVKQP VJG QRKPKQP QH XKEVKOUo
HCOKNKGU KP FGVGTOKPKPI VJG UGPVGPEG
#V NGCUV
PGY FGCVJ UGPVGPEGU YGTG TGEQTFGF KP 6JCKNCPF CPF OQTG VJCP
RGQRNG
YGTG WPFGT UGPVGPEG QH FGCVJ CV VJG GPF QH VJG [GCT (KIWTGU HTQO VJG %QTTGEVKQP &GRCTVOGPV
UJQYGF VJCV CV NGCUV JCNH QH VJGO JCF DGGP EQPXKEVGF QH FTWI TGNCVGF QHHGPEGU
1P
/CTEJ VJG 70 *WOCP 4KIJVU %QWPEKN CFQRVGF VJG QWVEQOG QH VJG 724 QH 6JCKNCPF
YJKEJ JCF DGGP ECTTKGF QWV QP 1EVQDGT
6JG EQWPVT[oU CWVJQTKVKGU TGLGEVGF
TGEQOOGPFCVKQPU VQ TGXKGY QT COGPF NCYU YKVJ TGICTFU VQ CDQNKUJKPI VJG FGCVJ RGPCNV[
RGPFKPI VJG EQORNGVKQP QH C UVWF[ VQ CUUGUU VJG RQUUKDKNKV[ QH CDQNKUJKPI ECRKVCN RWPKUJOGPV
6JCKNCPF JCF OCFG C EQOOKVOGPV KP KVU
*WOCP 4KIJVU #EVKQP 2NCP VQ CDQNKUJ
VJG FGCVJ RGPCNV[ %CNNU VQ GZRGFKVG GZGEWVKQPU HQT FTWI TGNCVGF QHHGPEGU KPENWFKPI D[
IQXGTPOGPV CWVJQTKVKGU YGTG TGRQTVGF VJTQWIJQWV VJG [GCT
+PCDKNKV[ VQ QDVCKP VJG UWRRN[ QH UWDUVCPEGU WUGF KP NGVJCN KPLGEVKQP RTQEGFWTGU FWG VQ CP '7
GZRQTV DCP RWV GZGEWVKQPU QP JQNF KP 8KGV 0CO VJTQWIJQWV
6JG EQWPVT[ EJCPIGF KVU
OGVJQF QH GZGEWVKQP HTQO HKTKPI USWCF VQ NGVJCN KPLGEVKQP KP ,WN[
CPF DWKNV UKZ GZGEWVKQP
HCEKNKVKGU VQ DG CDNG VQ UYKVEJ VQ VJG PGY OGVJQF *QYGXGT EJCPIGU KP '7 TGIWNCVKQPU QP
VTCFG QH GSWKROGPV CPF UWDUVCPEGU CRRGCTGF VQ JCXG KORGFGF VJG KORNGOGPVCVKQP QH VJG
FGCVJ RGPCNV[ KP VJG EQWPVT[
+P 0QXGODGT 0CVKQPCN #UUGODN[ FGRWV[ *W[PJ 0IJKC EKVKPI VJG 5WRTGOG 2GQRNGoU
RGQRNG YGTG WPFGT UGPVGPEG QH FGCVJ YKVJ VJGKT
2TQEWTCE[ QH 8KGVPCO UVCVGF VJCV
UGPVGPEGU NGICNN[ XCNKF DWV WPGPHQTEGCDNG FWG VQ NCEM QH OGCPU HQT GZGEWVKQP
6JG CEVKXKVKGU CPF TGCEJ QH VJG #PVK &GCVJ 2GPCNV[ #UKC 0GVYQTM #&2#0 EQPVKPWGF VQ
GZRCPF FWTKPI
$[ VJG GPF QH VJG [GCT VJGTG YGTG OGODGTU KP
EQWPVTKGU #&2#0
JGNF KVU TF %QPUWNVCVKXG /GGVKPI CV *QPI -QPI 7PKXGTUKV[ KP 0QXGODGT 6JG OGGVKPI CITGGF
VJG HWVWTG FKTGEVKQP QH KVU YQTM QP WPHCKT VTKCNU VJG OCPFCVQT[ FGCVJ RGPCNV[ CPF HQTGKIP
PCVKQPCNU QP FGCVJ TQY

'7412' #0& %'064#. #5+#
$GNCTWU EQPVKPWGF VQ DG VJG QPN[ EQWPVT[ KP VJG TGIKQP VQ ECTT[ QWV GZGEWVKQPU CPF FKF UQ
WPFGT UVTKEV UGETGE[ #V NGCUV VJTGG OGP YGTG GZGEWVGF KP
6[RKECNN[ RTKUQPGTU CTG GZGEWVGF YKVJKP JQWTU QT GXGP OKPWVGU QH DGKPI VQNF VJCV VJGKT CRRGCN
HQT ENGOGPE[ JCU DGGP TGLGEVGF D[ DGKPI HQTEGF VQ VJGKT MPGGU CPF UJQV KP VJG DCEM QH VJG
JGCF 0GKVJGT VJG[ PQT VJGKT HCOKNKGU YKNN JCXG DGGP VQNF QH VJG KORGPFKPI GZGEWVKQP 6JG
HCOKN[ YKNN QPN[ DG KPHQTOGF FC[U QT UQOGVKOGU OQPVJU CHVGT VJG GZGEWVKQP VCMGU RNCEG 6JG
DQFKGU CTG PQV TGVWTPGF VQ VJGO CPF VJG[ CTG PQV VQNF YJGTG VJGKT TGNCVKXGU CTG DWTKGF

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

7NCF\UNCW -CXCN[QW CPF &\OKVT[ -CPCXCNCW YGTG GZGEWVGF KP /CTEJ HQT VJGKT CNNGIGF
KPXQNXGOGPV KP C UGTKGU QH DQOD CVVCEMU KP $GNCTWU KP
6JG FGCVJ UGPVGPEGU JCF DGGP
KORQUGF CHVGT WPHCKT VTKCNU 6JG VYQ OGP JCF DGGP UGPVGPEGF VQ FGCVJ D[ VJG 5WRTGOG %QWTV
CEVKPI CU VJG EQWTV QH HKTUV CPF QPN[ KPUVCPEG NGCXKPI PQ TGEQWTUG HQT CRRGCN VQ C JKIJGT EQWTV
KP XKQNCVKQP QH KPVGTPCVKQPCN NCY 6JG $GNCTWUKCP 2TGUKFGPV #N[CMUCPFT .WMCUJGPMC FGPKGF
TGSWGUVU HQT ENGOGPE[ QP
/CTEJ
JCXKPI FGENCTGF DGHQTG VJG[ YGTG GXGP
KPVGTTQICVGF VJCV DQVJ OGP JCF EQPHGUUGF VQ VJG CVVCEM
7NCF\UNCW -CXCN[QW NCVGT TGVTCEVGF JKU EQPHGUUKQP ENCKOKPI KV YCU QDVCKPGF WPFGT RTGUUWTG
KPENWFKPI VJTGCVU VQ UJQQV JKO *KU OQVJGT .WDQW -CXCN[QWC UCKF VJCV DQVJ OGP JCF DGGP
DGCVGP FWTKPI KPVGTTQICVKQP 1P
/CTEJ UJG TGEGKXGF C NGVVGT PQVKH[KPI JGT QH JGT UQPoU
GZGEWVKQP #U KP RTGXKQWU ECUGU 7NCF\UNCW -CXCN[QWoU GZGEWVKQP VQQM RNCEG FGURKVG CP QHHKEKCN
TGSWGUV HTQO VJG 70 *WOCP 4KIJVU %QOOKVVGG PQV VQ GZGEWVG JKO WPVKN JKU CRRNKECVKQP VQ VJG
%QOOKVVGG JCF DGGP EQPUKFGTGF +P 1EVQDGT VJG %QOOKVVGG HQWPF VJCV KP ECTT[KPI QWV VJGUG
CEVU $GNCTWU JCF XKQNCVGF COQPI QVJGTU VJG TKIJVU QH 7NCF\UNCW -CXCN[QW WPFGT #TVKENGU
CPF
QH VJG +PVGTPCVKQPCN %QXGPCPV QP %KXKN CPF 2QNKVKECN 4KIJVU +%%24 +V CNUQ JGNF VJCV
VJGUG CEVU COQWPVGF VQ KPJWOCP VTGCVOGPV QH JKU OQVJGT CPF UKUVGT KP XKQNCVKQP QH #TVKENG
QH VJG +%%24 DGECWUG QH VJG GHHGEV QH KPVKOKFCVKPI QT RWPKUJKPI VJG HCOKN[ D[ KPVGPVKQPCNN[
NGCXKPI VJGO KP C UVCVG QH WPEGTVCKPV[ CPF OGPVCN FKUVTGUU
.GIKUNCVKQP VQ TGOQXG VJG FGCVJ RGPCNV[ HQT VJG NCUV TGOCKPKPI ETKOGU WPFGT OKNKVCT[ NCY ECOG
KPVQ GHHGEV KP .CVXKC QP ,CPWCT[ OCMKPI VJG EQWPVT[ VJG
VJ EQORNGVGN[ CDQNKVKQPKUV
EQWPVT[ KP VJG YQTNF 2TGXKQWUN[ .CVXKC JCF DGGP CDQNKVKQPKUV HQT QTFKPCT[ ETKOGU QPN[ 1P
/C[ 2TQVQEQN 0Q
VQ VJG 'WTQRGCP %QPXGPVKQP HQT VJG 2TQVGEVKQP QH *WOCP 4KIJVU CPF
(WPFCOGPVCN (TGGFQOU '%*4 EQPEGTPKPI VJG CDQNKVKQP QH VJG FGCVJ RGPCNV[ KP CNN
EKTEWOUVCPEGU GPVGTGF KPVQ HQTEG HQT .CVXKC
4WUUKC EQPVKPWGF KVU OQTCVQTKWO QP VJG FGCVJ RGPCNV[ KP RNCEG UKPEG
CPF KPFGHKPKVGN[
GZVGPFGF D[ VJG %QPUVKVWVKQPCN %QWTV KP 0QXGODGT
+P ,WPG 4WUUKC KPHQTOGF VJG 70
VJCV RTQRQUCNU VQ CDQNKUJ VJG FGCVJ RGPCNV[ NGICNN[ CPF VQ TCVKH[ 2TQVQEQN 0Q
QH VJG '%*4
EQPEGTPKPI VJG CDQNKVKQP QH VJG FGCVJ RGPCNV[ KP CNN EKTEWOUVCPEGU YGTG EWTTGPVN[ RGPFKPI
DGHQTG VJG 5VCVG &WOC RCTNKCOGPV
*QYGXGT #OPGUV[ +PVGTPCVKQPCN KU PQV CYCTG QH CP[
UVGRU VCMGP KP VJKU TGICTF QT QH VJG NGIKUNCVKXG VKOGVCDNG 4WUUKC KU VJG QPN[ /GODGT 5VCVG QH
VJG %QWPEKN QH 'WTQRG VJCV JCU PQV TCVKHKGF 2TQVQEQN 0Q
VQ VJG '%*4 EQPEGTPKPI VJG
CDQNKVKQP QH VJG FGCVJ RGPCNV[ DWV CNNQYKPI 5VCVGU 2CTVKGU VQ TGVCKP VJG FGCVJ RGPCNV[ HQT
ETKOGU KP VKOG QH YCT +P 0QXGODGT VJG 70 %QOOKVVGG CICKPUV 6QTVWTG TGEQOOGPFGF VQ
4WUUKC VQ CDQNKUJ VJG FGCVJ RGPCNV[ KP NCY CPF VQ TCVKH[ VJG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG
+%%24 CKOKPI CV VJG CDQNKVKQP QH VJG FGCVJ RGPCNV[
6JG QHHKEKCN OQTCVQTKWO QP VJG CRRNKECVKQP QH VJG FGCVJ RGPCNV[ KORNGOGPVGF KP
EQPVKPWGF KP 6CLKMKUVCP +P VJG QWVEQOG QH KVU 7PKXGTUCN 2GTKQFKE 4GXKGY CV VJG 70 *WOCP
4KIJVU %QWPEKN KP /CTEJ 6CLKMKUVCP UWRRQTVGF TGEQOOGPFCVKQPU VQ TCVKH[ VJG 5GEQPF 1RVKQPCN
2TQVQEQN VQ VJG +%%24 KP EQPVKPWCVKQP QH KVU OGCUWTGU VQ TGHQTO VJG ETKOKPCN EQFG CPF CUMGF
HQT VGEJPKECN CUUKUVCPEG KP VJG KORNGOGPVCVKQP QH VJKU TGEQOOGPFCVKQP
+PUVKVWVKQPU DGNQPIKPI VQ VJG %QWPEKN QH 'WTQRG EQPVKPWGF VQ DG CEVKXG QP VJG KUUWG QH VJG
FGCVJ RGPCNV[ +VU 2CTNKCOGPVCT[ #UUGODN[ CFQRVGF TGUQNWVKQPU KP YJKEJ KV ECNNGF QP $GNCTWU
VQ KPVTQFWEG C OQTCVQTKWO QP GZGEWVKQPU YKVJ C XKGY VQ VJG EQORNGVG CDQNKVKQP QH VJG FGCVJ

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

RGPCNV[ CPF QP 4WUUKC VQ CDQNKUJ VJG FGCVJ RGPCNV[ KP NCY CPF VQ TCVKH[ YKVJQWV FGNC[ 2TQVQEQN
0Q
VQ VJG '%*4
+P ,WN[ VJG %QWPEKN QH 'WTQRGoU 'WTQRGCP %QWTV QH *WOCP 4KIJVU HQTOCNN[ PQVKHKGF VJG 2QNKUJ
CPF 4QOCPKCP IQXGTPOGPVU QH VYQ ECUGU HKNGF EQPEGTPKPI n#DF CN 4CJKO CN 0CUJKTK 6JG
EQORNCKPVU TGNCVGF VQ COQPI QVJGT VJKPIU GCEJ UVCVGoU EQORNKEKV[ KP CN 0CUJKTKoU UGETGV
FGVGPVKQP KP 'WTQRG CPF GXGPVWCN VTCPUHGT KP 5GRVGODGT
VQ VJG 75 0CXCN $CUG CV
)WCPV½PCOQ $C[ %WDC FGURKVG C TGCN TKUM VJCV JG YQWNF DG UWDLGEVGF VQ VJG FGCVJ RGPCNV[
#N 0CUJKTK EQPVKPWGU VQ DG FGVCKPGF CV )WCPV½PCOQ CPF HCEGU ECRKVCN EJCTIGU KP EQPPGEVKQP
YKVJ VJG CVVCEM QP VJG 755 %QNG KP #FGP ;GOGP KP
*G KU HCEKPI VTKCN WPFGT C OKNKVCT[
EQOOKUUKQP U[UVGO VJCV FQGU PQV OGGV KPVGTPCVKQPCN HCKT VTKCN UVCPFCTFU 8CTKQWU RTG VTKCN
RTQEGGFKPIU YGTG JGNF FWTKPI
KP JKU ECUG DWV C FCVG HQT JKU CEVWCN VTKCN YCU PQV UGV
+P KVU LWFIOGPV KP VJG ECUG QH #NOKT 4TCRQ VJG 'WTQRGCP %QWTV QH *WOCP 4KIJVU TGECNNGF VJCV
2TQVQEQN 0Q
VQ VJG '%*4 VCMGP VQIGVJGT YKVJ QDNKICVKQPU WPFGT #TVKENGU
CPF QH VJG
'%*4 RTQJKDKVGF C /GODGT 5VCVG QH VJG %QWPEKN QH 'WTQRG HTQO FGVCKPKPI KPFKXKFWCNU YKVJ C
XKGY VQ GZVTCFKVKPI VJGO VQ UVCPF VTKCN QP ECRKVCN EJCTIGU QT KP CP[ QVJGT YC[ UWDLGEVKPI
KPFKXKFWCNU YKVJKP KVU LWTKUFKEVKQP VQ C TGCN TKUM QH DGKPI UGPVGPEGF VQ VJG FGCVJ RGPCNV[ CPF
GZGEWVGF *QYGXGT VJG %QWTV HQWPF PQ XKQNCVKQP QH VJKU TWNG CU UWHHKEKGPV CPF DKPFKPI
CUUWTCPEGU JCF DGGP UQWIJV CPF QDVCKPGF HTQO 75 CWVJQTKVKGU RTKQT VQ GZVTCFKVKQP
1P
,WPG VJG 'WTQRGCP 7PKQP '7 CFQRVGF KVU HKTUV p5VTCVGIKE (TCOGYQTM QP *WOCP
4KIJVU CPF &GOQETCE[q YJKEJ EQXGTU VJG YJQNG TCPIG QH '7 JWOCP TKIJVU CEVKXKVKGU
KPENWFKPI KVU ECORCKIP HQT VJG CDQNKVKQP QH VJG FGCVJ RGPCNV[ CU CP '7 RTKQTKV[ +P RWDNKE
UVCVGOGPVU QP VJG FGCVJ RGPCNV[ VJG *KIJ 4GRTGUGPVCVKXG QH VJG '7 HQT (QTGKIP #HHCKTU
%CVJGTKPG #UJVQP COQPI QVJGT VJKPIU ETKVKEK\GF GZGEWVKQPU KP $GNCTWU +PFKC +TCP +TCS
,CRCP 2CMKUVCP CPF VJG 75#

/+&&.' '#56 #0& 0146* #(4+%#
7UG QH VJG FGCVJ RGPCNV[ KP VJG /KFFNG 'CUV CPF 0QTVJ #HTKEC TGOCKPGF C ECWUG HQT ITGCV
EQPEGTP #NVJQWIJ VJGTG YGTG NKOKVGF RQUKVKXG FGXGNQROGPVU YKVJ OQUV EQWPVTKGU KP VJG
TGIKQP EQPVKPWKPI VQ TGHTCKP HTQO KORNGOGPVKPI FGCVJ UGPVGPEGU VJG RGTUKUVGPVN[ JKIJ NGXGN QH
GZGEWVKQPU KP +TCP 5CWFK #TCDKC CPF ;GOGP CPF VJG CNCTOKPI TKUG QH GZGEWVKQPU KP +TCS
OCFG HQT CP CNVQIGVJGT DNGCM RKEVWTG 1PIQKPI KPUVCDKNKV[ CPF XKQNGPEG KP UQOG EQWPVTKGU KP
VJG TGIKQP OCFG KV FKHHKEWNV VQ ICVJGT CFGSWCVG KPHQTOCVKQP GURGEKCNN[ KP 5[TKC 5GXGTCN
IQXGTPOGPVU EQPVKPWGF VQ RTQXKFG PQ QT QPN[ RCTVKCN KPHQTOCVKQP CDQWV VJGKT WUG QH VJG FGCVJ
RGPCNV[
+P 6WPKUKC
RGQRNG QP FGCVJ TQY JCF VJGKT UGPVGPEGU EQOOWVGF D[ VJG VTCPUKVKQPCN
IQXGTPOGPV *QYGXGT VJG FTCHV %QPUVKVWVKQP RTQRQUGF KP 6WPKUKC FKF PQV TWNG QWV VJG FGCVJ
RGPCNV[ 'I[RVoU PGY %QPUVKVWVKQP FKF PQV EQPVCKP C RTQXKUKQP QP VJG TKIJV VQ NKHG CPF FKF PQV
TWNG QWV VJG FGCVJ RGPCNV[ $CJTCKP /QTQEEQ CPF 6WPKUKC TGLGEVGF TGEQOOGPFCVKQPU KP VJGKT
TGURGEVKXG 7PKXGTUCN 2GTKQFKE 4GXKGY 724 CV VJG 70 *WOCP 4KIJVU %QWPEKN VQ CDQNKUJ VJG
FGCVJ RGPCNV[ CPF VQ TCVKH[ VJG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG +PVGTPCVKQPCN %QXGPCPV QP

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

%KXKN CPF 2QNKVKECN 4KIJVU +%%24 CKOKPI CV VJG CDQNKVKQP QH VJG FGCVJ RGPCNV[
#V NGCUV

GZGEWVKQPU KP UKZ EQWPVTKGU QWV QH
KP VJG TGIKQP EQWNF DG EQPHKTOGF +TCP
VJG 2CNGUVKPKCP #WVJQTKV[
D[ VJG *COCU CWVJQTKVKGU )C\C 5CWFK
7#'
CPF ;GOGP
6JKU YCU GUUGPVKCNN[ VJG UCOG PWODGT QH GZGEWVKQPU
YJGP
YGTG EQPHKTOGF TGIKQPCNN[ DWV QEEWTTKPI KP OQTG EQWPVTKGU

+TCS
#TCDKC
CU KP

+V EQWNF PQV DG EQPHKTOGF KH GZGEWVKQPU VQQM RNCEG KP 'I[RV QT 5[TKC
6JG EQPEGPVTCVKQP QH C XGT[ JKIJ PWODGT QH GZGEWVKQPU KP C UOCNN PWODGT QH EQWPVTKGU UJQYGF
VJCV +TCP +TCS 5CWFK #TCDKC CPF ;GOGP YGTG KUQNCVGF GXGP TGIKQPCNN[ #U KP
VJGUG HQWT
EQWPVTKGU CNQPG CEEQWPV HQT
QH CNN EQPHKTOGF GZGEWVKQPU KP VJG TGIKQP
+TCS CPF QP C NGUUGT UECNG VJG 2CNGUVKPKCP #WVJQTKV[ VJG *COCU CWVJQTKVKGU KP )C\C UVQQF
QWV KP VJG TGIKQP CU VJG QPN[ LWTKUFKEVKQPU YKVJ C TKUG KP GZGEWVKQPU HTQO
+TCP CPF
;GOGP UCY C FTQR KP TGRQTVGF GZGEWVKQPU CNVJQWIJ VJG TGCN HKIWTGU CTG NKMGN[ VQ DG OWEJ
JKIJGT
#V NGCUV
FGCVJ UGPVGPEGU YGTG KORQUGF KP
EQWPVTKGU #NIGTKC
$CJTCKP
'I[RV
+TCP
+TCS
,QTFCP
-WYCKV
.GDCPQP
.KD[C
/QTQEEQ 9GUVGTP 5CJCTC
VJG 2CNGUVKPKCP #WVJQTKV[
*COCU CWVJQTKVKGU )C\C
2# 9GUV $CPM 3CVCT
5CWFK #TCDKC
6WPKUKC
7#'
CPF ;GOGP
6JG QXGTCNN PWODGT QH EQWPVTKGU RCUUKPI FGCVJ UGPVGPEGU KPETGCUGF HTQO
CU PQ
FGCVJ UGPVGPEGU KP 5[TKC EQWNF DG EQPHKTOGF DWV .KD[C CPF 6WPKUKC TGUWOGF VJGKT
KORQUKVKQP 6JG VQVCN PWODGT QH EQPHKTOGF FGCVJ UGPVGPEGU FGETGCUGF EQPUKFGTCDN[ HTQO CV
NGCUV
KP
VQ
KP
4GFWEVKQPU [GCT QP [GCT EQWNF DG QDUGTXGF KP $CJTCKP
-WYCKV CPF VJG 7#'
6JG CWVJQTKVKGU QH #NIGTKC ,QTFCP -WYCKV .GDCPQP /QTQEEQ 9GUVGTP 5CJCTC CPF 6WPKUKC
KORQUGF FGCVJ UGPVGPEGU DWV EQPVKPWGF PQV VQ ECTT[ QWV GZGEWVKQPU $CJTCKP TGHTCKPGF HTQO
KORNGOGPVKPI FGCVJ UGPVGPEGU HQT VJG UGEQPF [GCT TWPPKPI
+V CRRGCTGF VJCV UQOG IQXGTPOGPVU KP VJG TGIKQP TGFWEGF VJGKT WUG QH VJG FGCVJ RGPCNV[
VJTQWIJ OGCUWTGU UWEJ CU VJG KORQUKVKQP QH HGYGT FGCVJ UGPVGPEGU EQOOWVCVKQPU QT UKORN[
TGHTCKPKPI HTQO GZGEWVKQPU KP RTCEVKEG *QYGXGT XGT[ HGY YCPVGF VQ DG UGGP CU VCMKPI
FGOQPUVTCVKXG UVGRU UWEJ CU EJCPIGU VQ VJGKT PCVKQPCN NCYU QT KPVGTPCVKQPCN NGICN QDNKICVKQPU
#V VJG UCOG VKOG UQOG UVCVGU VQQM XKUKDNG UVGRU VQ FGOQPUVTCVG VJGKT UWRRQTV HQT VJG FGCVJ
RGPCNV[ UWEJ CU XQVKPI CICKPUV VJG 7PKVGF 0CVKQPU )GPGTCN #UUGODN[ 70)# TGUQNWVKQP
ECNNKPI HQT C OQTCVQTKWO
.GICN EQPEGTPU CDQWV VJG CRRNKECVKQP QH VJG FGCVJ RGPCNV[ CDQWPFGF KP VJG TGIKQP %CRKVCN
RWPKUJOGPV YCU HTGSWGPVN[ KORQUGF HQT FTWI QHHGPEGU YJKEJ CTG PQV TGEQIPK\GF CU pOQUV
UGTKQWU ETKOGUq WPFGT KPVGTPCVKQPCN UVCPFCTFU CPF HQT XCIWGN[ YQTFGF RQNKVKECN pQHHGPEGUq
KPENWFKPI EJCTIGU WPFGT CPVK VGTTQTKUO NCYU
6JGTG YGTG C XCTKGV[ QH HCKT VTKCN EQPEGTPU KP
#OQPI QVJGT VJKPIU OKNKVCT[ EQWTVU
KORQUGF FGCVJ UGPVGPEGU UQOGVKOGU QP EKXKNKCPU KP 'I[RV .GDCPQP .KD[C CPF VJG

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

2CNGUVKPKCP #WVJQTKV[ 2# 9GUV $CPM *COCU CWVJQTKVKGU )C\C &GCVJ UGPVGPEGU YGTG
JCPFGF FQYP FGURKVG VJG UWURGEV DGKPI VTKGF KP VJGKT CDUGPEG KP CDUGPVKC KP #NIGTKC 'I[RV
+TCS .GDCPQP .KD[C 6WPKUKC VJG 7#' CPF ;GOGP #OPGUV[ +PVGTPCVKQPCN TGLGEVU VTKCNU KP
CDUGPVKC CU KPJGTGPVN[ WPHCKT KH VJG CEEWUGF YCU PGXGT RTGUGPV KP EQWTV
6JGTG YGTG UGTKQWU EQPEGTPU QXGT VJG WUG QH pEQPHGUUKQPUq QDVCKPGF WPFGT VQTVWTG QT QVJGT KNN
VTGCVOGPV KP #NIGTKC +TCP +TCS VJG 2CNGUVKPKCP #WVJQTKV[ *COCU CWVJQTKVKGU )C\C 5CWFK
#TCDKC CPF ;GOGP 6JG WPHCKTPGUU QH UQOG VTKCNU YCU HWTVJGT GZCEGTDCVGF D[ VGNGXKUKQP
DTQCFECUVU QH VJGUG HQTEGF pEQPHGUUKQPUq RTKQT VQ VTKCN KP +TCP CPF +TCS XKQNCVKPI VJG TKIJV QH
VJG FGHGPFCPV VQ DG RTGUWOGF KPPQEGPV 9JGTG HQTGKIP PCVKQPCNU YGTG CEEWUGF QH C ECRKVCN
ETKOG UWEJ CU KP 5CWFK #TCDKC KPVGTRTGVGTU YGTG QHVGP PQV RTGUGPV FWTKPI KPVGTTQICVKQPU QT
VTKCNU QT VJGKT CUUKUVCPEG YCU KPCFGSWCVG +V YCU CRRCTGPV VJCV VJG EQWPVTKGU YKVJ VJG JKIJGUV
PWODGT QH GZGEWVKQPU YGTG CNUQ VJQUG YJGTG VTKCNU YJKEJ HCKNGF VQ EQORN[ YKVJ KPVGTPCVKQPCN
HCKT VTKCN UVCPFCTFU YGTG CRRCNNKPIN[ EQOOQP
#V NGCUV
FGCVJ UGPVGPEGU YGTG KORQUGF KP #NIGTKC /QUV YGTG CICKPUV RGQRNG VTKGF KP
VJGKT CDUGPEG HQT VGTTQTKUO TGNCVGF QHHGPEGU QVJGTU HQT OWTFGT
(QT VJG UGEQPF [GCT TWPPKPI PQ GZGEWVKQPU YGTG ECTTKGF QWV KP $CJTCKP 1PG FGCVJ UGPVGPEG
YCU KORQUGF KP /CTEJ QP C $CJTCKPK PCVKQPCN EQPXKEVGF QH MKNNKPI JKU YKHG 1P ,CPWCT[
VJG %QWTV QH %CUUCVKQP SWCUJGF VYQ FGCVJ UGPVGPEGU KORQUGF D[ VJG 0CVKQPCN 5CHGV[ %QWTV
CPF KVU #RRGCNU %QWTV s OKNKVCT[ EQWTVU s KP
6JG ECUGU QH n#NK n#DFWNNCJ *CUUCP CN
5CPMKU CPF n#DFGNC\K\ n#DFGNTKFJC +DTCJKO *WUUCKP VYQ EKXKNKCPU YJQ JCF DGGP HQWPF IWKNV[
QH MKNNKPI VYQ RQNKEGOGP FWTKPI VJG /CTEJ
CPVK IQXGTPOGPV RTQVGUVU YGTG TGHGTTGF VQ
VJG *KIJ %TKOKPCN %QWTV QH #RRGCN HQT C TG VTKCN KP NKPG YKVJ VJG TGEQOOGPFCVKQPU QH VJG
$CJTCKP +PFGRGPFGPV %QOOKUUKQP QH +PSWKT[
#U RCTV QH VJG QWVEQOG QH KVU 724 CFQRVGF D[ VJG 70 *WOCP 4KIJVU %QWPEKN QP
5GRVGODGT $CJTCKP TGLGEVGF TGEQOOGPFCVKQPU VQ CDQNKUJ VJG FGCVJ RGPCNV[ KPENWFKPI C
TGEQOOGPFCVKQP VQ TCVKH[ VJG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG +%%24 UVCVKPI VJCV UWEJ
OGCUWTGU YQWNF DG KPEQPUKUVGPV YKVJ KVU %QPUVKVWVKQP CPF YGTG PQV TGSWKTGF D[ KPVGTPCVKQPCN
NCY +P &GEGODGT $CJTCKP EJCPIGF KVU RTGXKQWU CDUVGPVKQP CPF XQVGF CICKPUV VJG 70)#
TGUQNWVKQP ECNNKPI HQT C OQTCVQTKWO QP VJG FGCVJ RGPCNV[
+PHQTOCVKQP QP VJG FGCVJ RGPCNV[ KP 'I[RV KU IGPGTCNN[ XGT[ FKHHKEWNV VQ QDVCKP #V NGCUV
PGY
FGCVJ UGPVGPEGU YGTG KORQUGF KPENWFKPI D[ OKNKVCT[ EQWTVU +P /CTEJ VJG 5WRTGOG /KNKVCT[
%QWTV JCPFGF FQYP FGCVJ UGPVGPEGU VQ VYQ EKXKNKCPU HQT MKNNKPI C OKNKVCT[ QHHKEGT KP (GDTWCT[
(QTOGT 2TGUKFGPV /QJCOGF *QUPK /WDCTCM CPF JKU HQTOGT +PVGTKQT /KPKUVGT *CDKD 'N
#FN[ YGTG UGPVGPEGF VQ RTKUQP VGTOU KP ,WPG QXGT VJG MKNNKPI QH RTQVGUVGTU KP VJG
WRTKUKPIU CNVJQWIJ VJG RTQUGEWVKQP JCF ECNNGF HQT FGCVJ UGPVGPEGU
#NN FGCVJ UGPVGPEGU D[ ETKOKPCN EQWTVU JCXG VQ DG UGPV VQ VJG )TCPF /WHVK QH 'I[RV VJG
EQWPVT[oU JKIJGUV +UNCOKE ENGTKE HQT JKU QRKPKQP # PGY %QPUVKVWVKQP CFQRVGF CHVGT C
TGHGTGPFWO KP &GEGODGT EQPVCKPGF PQ TGHGTGPEG VQ VJG FGCVJ RGPCNV[ OGCPKPI VJCV GZKUVKPI
NGIKUNCVKQP TGOCKPGF WPCHHGEVGF (WTVJGT VJG %QPUVKVWVKQP GPUJTKPGF 5JCTKoC CU VJG RTKPEKRCN
UQWTEG QH NGIKUNCVKQP CPF RWDNKE QRKPKQP EQPVKPWGU VQ UVTQPIN[ UWRRQTV VJG FGCVJ RGPCNV[
OCMKPI KV NKMGN[ VJCV VJG FGCVJ RGPCNV[ YKNN EQPVKPWG VQ DG KORQUGF

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

DEATH PENALTY
FACTS AND FIGURES 2012

DEATH PENALTY TRENDS

2003-2012

COUNTRIES

THE NUMBER OF ABOLITIONIST
COUNTRIES ROSE TO 97 IN 2012.

THE NUMBER OF COUNTRIES
IMPOSING DEATH SENTENCES
FELL TO 58 IN 2012.

EXECUTIONS WERE CONFIRMED
IN 21 COUNTRIES.

The death penalty was completely
removed from legislation in Latvia,
making it the 97th country abolitionist
for all crimes worldwide. Ten years ago
in 2003, this figure stood at 80. In total,
140 countries have abolished the death
penalty in law or practice.

At least 1,722 people were sentenced
to death in 58 countries in 2012. This is
a decrease from 2011, when at least
1,923 people were known to have been
sentenced in 63 countries worldwide,
and a reduction for the second year
running (2010: 2,024 death sentences
in 67 countries).

In 2012 Amnesty International recorded
executions in 21 countries. It cannot
be excluded that executions took place
in Egypt and Syria, though none could be
confirmed. This figure reflects the
significant overall decline of the death
penalty from a decade earlier, when 28
countries carried out executions in 2003.

Index: ACT 50/001/2013

Amnesty International April 2013

DEATH PENALTY
FACTS AND FIGURES 2012

•

Thousands of executions

•

Hundreds of executions

•

10·99 executions
1·9 executions

Amnesty International April 2013

Index: ACT 50/001/2013

DEATH PENALTY
FACTS AND FIGURES 2012

RAQ

Kecutions
nost doubled
om 2011

CHINA

Second-highest
level 01 executions
worldwide in 2012,

most for drul-relabld
crimes
'AFGiHANISTAN
~

More executions
than rest of
the world put
together

Deoth penoIty Imposed

.rter "confessionsn
.Ilepdly extroc:ted
under torIIn

~

Index: ACT 50/001/2013

Amnesty International April 2013

DEATH PENALTY
FACTS AND FIGURES 2012

O~.·

..£!.wolIE

WORLDWIDE
TRENDS

-"Er IIAII

2012

1AMNESTY

9::mR::

.--.~

Amnesty International April 2013

Index: ACT 50/001/2013

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

+P 5GRVGODGT FGCVJ UGPVGPEGU YGTG EQPHKTOGF HQT
OGODGTU QH VJG OKNKVCPV +UNCOKE ITQWR
/QPQVJGKUO CPF ,KJCF GN 6CYJKF YK GN ,KJCF KORQUGF D[ CP GOGTIGPE[ EQWTV HQT CVVCEMU QP
UQNFKGTU CPF UGEWTKV[ HQTEGU KP VJG PQTVJ QH VJG 5KPCK 2GPKPUWNC KP
#OPGUV[
+PVGTPCVKQPCN JCU HTGSWGPVN[ TCKUGF EQPEGTPU QXGT VJG CDKNKV[ QH GOGTIGPE[ EQWTVU VQ FGNKXGT
HCKT VTKCNU +P 0QXGODGT VJG FGCVJ UGPVGPEGU QH UGXGP GZRCVTKCVG %QRVKE 'I[RVKCPU CPF 75
2CUVQT 6GTT[ ,QPGU HTQO (NQTKFC CNN VTKGF KP VJGKT CDUGPEG HQT VJGKT CNNGIGF KPXQNXGOGPV YKVJ
VJG EQPVTQXGTUKCN HKNO +PPQEGPEG QH /WUNKOU YGTG TGHGTTGF VQ VJG /WHVK CHVGT C EQWTV HQWPF
VJG[ JCF GPFCPIGTGF 'I[RVoU PCVKQPCN WPKV[ 6JG HKNO YCU YKFGN[ FGGOGF VQ DG QHHGPUKXG VQ
OCP[ /WUNKOU CPF NGF VQ RTQVGUVU KP 'I[RV CPF QVJGT EQWPVTKGU
+TCP KU UGEQPF QPN[ VQ %JKPC YQTNFYKFG KP VJG PWODGT QH GZGEWVKQPU ECTTKGF QWV GCEJ [GCT
6JG PWODGT QH GZGEWVKQPU TGOCKPGF JKIJ KP
GURGEKCNN[ HQT FTWI TGNCVGF ETKOGU CNQPI
YKVJ VJG RQNKVKEK\GF WUG QH FGCVJ UGPVGPEGU CICKPUV OGODGTU QH OKPQTKVKGU CPF QRRQPGPVU QH
VJG IQXGTPOGPV CPF HQT QVJGT ETKOGU VJCV CTG PQV EQPUKFGTGF pOQUV UGTKQWUq WPFGT
KPVGTPCVKQPCN NCY &GCVJ UGPVGPEGU YGTG V[RKECNN[ KORQUGF HQNNQYKPI RTQEGGFKPIU VJCV XKQNCVG
HCKT VTKCN UVCPFCTFU KPENWFKPI VJG WUG QH HQTEGF pEQPHGUUKQPUq CU GXKFGPEG CPF WPFGT VJG
#PVK 0CTEQVKEU .CY FGHGPFCPVU YGTG GHHGEVKXGN[ FGPKGF VJG TKIJV VQ CP CRRGCN KP CNN KPUVCPEGU
+TCP EQPVKPWGF VQ KORQUG FGCVJ UGPVGPEGU QP LWXGPKNG QHHGPFGTU KP XKQNCVKQP QH KPVGTPCVKQPCN
NCY
6JG +TCPKCP CWVJQTKVKGU FQ PQV RTQXKFG QHHKEKCN UVCVKUVKEU QP VJGKT WUG QH VJG FGCVJ RGPCNV[ CPF
VJGTG KU ETGFKDNG GXKFGPEG VJCV NCTIG PWODGTU QH GZGEWVKQPU CTG ECTTKGF QWV KP UGETGV
#NVJQWIJ
GZGEWVKQPU YGTG QHHKEKCNN[ CEMPQYNGFIGF D[ +TCPKCP CWVJQTKVKGU QT UVCVG
EQPVTQNNGF QT UCPEVKQPGF OGFKC TGNKCDNG UQWTEGU TGRQTVGF CV NGCUV
CFFKVKQPCN GZGEWVKQPU
6JKU YQWNF DTKPI VJG VQVCN HQT
VQ CV NGCUV
#V NGCUV
PGY FGCVJ UGPVGPEGU YGTG KORQUGF CPF QHHKEKCNN[ CEMPQYNGFIGF D[ VJG
CWVJQTKVKGU DWV TGNKCDNG UQWTEGU TGRQTVGF CV NGCUV
CFFKVKQPCN QPGU 6JG VTWG PWODGT KU
CNOQUV EGTVCKPN[ OWEJ JKIJGT
#V NGCUV VJTGG YQOGP YGTG GZGEWVGF 0Q GZGEWVKQPU QH LWXGPKNG QHHGPFGTU EQWNF DG EQPHKTOGF
4GRQTVU HTQO QHHKEKCN UQWTEGU CRRGCT VQ KPFKECVG VJCV WR VQ HQWT GZGEWVGF OC[ JCXG DGGP CIGF
WPFGT
CV VJG VKOG QH VJG CNNGIGF ETKOGU DWV VJKU EQWNF PQV DG XGTKHKGF *QYGXGT CEEQTFKPI
VQ QHHKEKCN UQWTEGU CV NGCUV VYQ LWXGPKNG QHHGPFGTU YGTG UGPVGPEGF VQ FGCVJ #V NGCUV
GZGEWVKQPU YGTG ECTTKGF QWV KP RWDNKE CICKP C TKUG KP
UWEJ GZGEWVKQPU YGTG
TGEQTFGF KP
KV YCU
6JG CWVJQTKVKGU CRRGCTGF VQ DGNKGXG VJCV RWDNKE GZGEWVKQPU FGVGT
ETKOG CPF RTQVGUV D[ URTGCFKPI HGCT COQPI VJQUG YJQ YKVPGUU VJGO
6JG UEQRG QH VJG FGCVJ RGPCNV[ KP +TCP TGOCKPGF DTQCF CPF KPENWFGF COQPI QVJGTU OWTFGT
pCFWNVGT[ YJKNG OCTTKGFq pCRQUVCU[q pUQFQO[q CU YGNN CU VJG XCIWGN[ YQTFGF QHHGPEGU QH
pGPOKV[ CICKPUV )QFq OQJCTGDGJ CPF pEQTTWRVKQP QP GCTVJq KHUCF HKN CT\ +P ,WPG +TCPoU
5WRTGOG %QWTV WRJGNF FGCVJ UGPVGPEGU HQT VYQ OGP HQWPF IWKNV[ HQT C VJKTF VKOG QH FTKPMKPI
CNEQJQN
#V NGCUV
GZGEWVKQPU QT
QH CNN QHHKEKCNN[ CEMPQYNGFIGF GZGEWVKQPU KP
YGTG HQT
FTWI QHHGPEGU 7PFGT +TCPKCP NCY VJG FGCVJ RGPCNV[ KU OCPFCVQT[ KP ECUGU QH RQUUGUUKQP QT
VTCHHKEMKPI QH OQTG VJCP C URGEKHKGF COQWPV QH XCTKQWU FTWIU CPF VJQUG EQPXKEVGF QH FTWI
QHHGPEGU CTG PQV RGTOKVVGF CP QRRQTVWPKV[ VQ GZGTEKUG VJGKT TKIJV VQ C TGXKGY D[ C JKIJGT

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

VTKDWPCN CU TGSWKTGF D[ KPVGTPCVKQPCN NCY #TVKENG
QH VJG #PVK 0CTEQVKEU .CY UVKRWNCVGU VJCV
VJQUG UGPVGPEGF VQ FGCVJ HQT FTWI QHHGPEGU YKNN QPN[ JCXG VJGKT EQPXKEVKQPU CPF UGPVGPEGU
EQPHKTOGF D[ GKVJGT VJG 2TGUKFGPV QH VJG 5WRTGOG %QWTV QT VJG 2TQUGEWVQT )GPGTCN +P
RTCEVKEG KV UGGOU VJCV OCP[ UWEJ FGCVJ UGPVGPEGU CTG TGHGTTGF VQ VJG 2TQUGEWVQT )GPGTCN
6JTQWIJQWV
EQPEGTPU EQPVKPWGF VQ DG TCKUGF CDQWV HKPCPEKCN CPF VGEJPKECN CUUKUVCPEG
RTQXKFGF VQ +TCP VJTQWIJ DKNCVGTCN CPF 70 FTWI GPHQTEGOGPV CKF RTQITCOOGU YJKEJ CNVJQWIJ
KPVGPFGF VQ JGNR UGK\G FTWIU CPF CTTGUV UWURGEVGF VTCHHKEMGTU OC[ CEVWCNN[ DG HCEKNKVCVKPI VJG
ECRVWTG CPF UWDUGSWGPV GZGEWVKQP QH RGQRNG HQT FTWI QHHGPEGU

5CGGF 5GFGIJK YCU GZGEWVGF QP 1EVQDGT *G JCF DGGP UGPVGPEGF VQ FGCVJ KP /C[ HQT RCTVKEKRCVKPI YKVJ
VJTGG QVJGT OGP KP VJG RWTEJCUG CPF RQUUGUUKQP QH
MI QH OGVJCORJGVCOKPG *KU UVCVG CRRQKPVGF NCY[GT
JCF PQ EQPVCEV YKVJ JKO QT CEEGUU VQ JKU ECUG HKNG DGHQTG JKU VTKCN 5CGGF 5GFGIJK YCU QTFGTGF VQ RC[ C HKPG QH
VYQ OKNNKQP 4KCNU CRRTQZKOCVGN[ 75
CPF UGPVGPEGF VQ NCUJGU HQT KPFKXKFWCN RQUUGUUKQP QH I QH
QRKWO CPF OCTKLWCPC +P &GEGODGT
COGPFOGPVU VQ VJG #PVK 0CTEQVKEU .CY JCF GZVGPFGF VJG UEQRG QH
VJG FGCVJ RGPCNV[ VQ KPENWFG CFFKVKQPCN ECVGIQTKGU QH KNNGICN FTWIU KPENWFKPI OGVJCORJGVCOKPG s pET[UVCN
OGVJq
#EEQTFKPI VQ 5CGGF 5GFGIJKoU HCOKN[ JG JCF DGGP VQTVWTGF KP RTKUQP KPENWFKPI DGKPI UWDLGEVGF VQ OQEM
GZGEWVKQP CPF JCF VJTGG VGGVJ MPQEMGF QWV 5CGGF 5GFGIJK CNUQ VQNF JKU HCOKN[ VJCV YJKNG KP RTKUQP JG JCF
DGGP QTFGTGF VQ pEQPHGUUq JKU IWKNV KP HTQPV QH C ECOGTC DWV JCF TGHWUGF VQ FQ UQ (QNNQYKPI VJG GZGEWVKQP JKU
DQF[ YCU TGVWTPGF VQ JKU HCOKN[ DWV VJG CWVJQTKVKGU YCTPGF VJGO PQV VQ URGCM VQ VJG OGFKC CPF DCTTGF VJGO
HTQO JQNFKPI C RWDNKE HWPGTCN EGTGOQP[ 1P 1EVQDGT 5CGGF 5GFGIJKoU DTQVJGT /CLKF 5GFGIJK YCU CTTGUVGF
CHVGT IKXKPI KPVGTXKGYU VQ $$% 2GTUKCP CPF 8QKEG QH #OGTKEC CDQWV JKU DTQVJGToU RNKIJV *G YCU TGNGCUGF QP DCKN
HQWT FC[U NCVGT DWV OC[ HCEG EJCTIGU CPF C VTKCN KP VJG HWVWTG
6JG ETKOG QH pGPOKV[ CICKPUV )QFq OQJCTGDGJ KU CKOGF CV CTOGF KPUWTTGEVKQP QT OQTG
IGPGTCNN[ VJG TGUQTV VQ CTOGF XKQNGPV CEVKXKVKGU #P[QPG HQWPF TGURQPUKDNG HQT VCMKPI WR CTOU
YJGVJGT HQT ETKOKPCN RWTRQUGU QT CICKPUV VJG UVCVG QT GXGP DGNQPIKPI VQ CP QTICPK\CVKQP
VCMKPI WR CTOU CICKPUV VJG UVCVG OC[ DG EQPUKFGTGF IWKNV[ QH pGPOKV[ CICKPUV )QFq
*QYGXGT VJG RTQXKUKQP ECP CPF JCU DGGP CRRNKGF VQ ECUGU YJGTG VJG CEEWUGF OC[ PQV JCXG
VCMGP WR CTOU DWV TCVJGT YGTG CNNGIGFN[ OGODGTU QH QT CUUQEKCVGF YKVJ QTICPK\CVKQPU VJCV
JCXG DGGP RTQUETKDGF KP +TCP 6JKU KPENWFGU VJQUG NKPMGF VQ RQNKVKECN DQFKGU ENCKOKPI VQ
TGRTGUGPV QPG QH +TCPoU GVJPKE OKPQTKVKGU UWEJ CU VJG #JYC\K #TCD $CNWEJK QT -WTFKUJ
OKPQTKVKGU
#V NGCUV
-WTFKUJ OGP YGTG DGNKGXGF VQ DG WPFGT UGPVGPEG QH FGCVJ KP EQPPGEVKQP YKVJ
VJGKT CNNGIGF OGODGTUJKR QH CPF CEVKXKVKGU HQT RTQUETKDGF -WTFKUJ QTICPK\CVKQPU
1P QT CTQWPF
,WPG 6CJC *GKFCTKCP CPF VJTGG QVJGT OGODGTU QH +TCPoU #JYC\K #TCD
OKPQTKV[ YGTG GZGEWVGF CHVGT TGRQTVGFN[ DGKPI EQPXKEVGF QH pGPOKV[ CICKPUV )QF CPF
EQTTWRVKQP QP GCTVJ KP EQPPGEVKQP YKVJ VJG MKNNKPI QH C NCY GPHQTEGOGPV QHHKEKCN KP #RTKN
COKF YKFGURTGCF RTQVGUVU KP -JW\GUVCP UQWVJ YGUV +TCP 6JGKT DQFKGU YGTG PQV TGVWTPGF VQ
VJGKT HCOKNKGU 1P ,WN[ HKXG QVJGT OGP YGTG UGPVGPEGF VQ FGCVJ KP EQPPGEVKQP YKVJ VJGKT
CEVKXKVKGU QP DGJCNH QH VJG #JYC\K #TCD OKPQTKV[ 6JG[ JCF DGGP CTTGUVGF KP GCTN[
LWUV
DGHQTG VJG UKZVJ CPPKXGTUCT[ QH YKFGURTGCF CPVK IQXGTPOGPV FGOQPUVTCVKQPU VJCV VQQM RNCEG KP
#RTKN
6YQ QH VJGUG VGCEJGTU *CUJGO 5JCoDCPK #OQWTK CPF *CFK 4CUJKFK JCF
RTGXKQWUN[ DGGP UJQYP QP +TCPoU UVCVG EQPVTQNNGF 'PINKUJ NCPIWCIG VGNGXKUKQP UVCVKQP 2TGUU

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

68 CRRGCTKPI VQ pEQPHGUUq VQ VJG CNNGICVKQPU CICKPUV VJGO # VJKTF OCP EQPXKEVGF
/QJCOOCF #NK #OQWTK JCF DGGP UQWIJV D[ VJG CWVJQTKVKGU HQT QTICPK\KPI RTQVGUVU FWTKPI VJG
FGOQPUVTCVKQPU KP
#V VJG GPF QH (GDTWCT[
VJG #OPGUV[ CPF %NGOGPE[ %QOOKUUKQP TGLGEVGF VJG TGSWGUV
HQT RCTFQP QH #DFQNTG\C )JCPDCTK C 2GTUKCP NKVGTCVWTG VGCEJGT WPKXGTUKV[ NGEVWTGT CPF HQTOGT
VTCFG WPKQP CEVKXKUV YJQ YCU CTTGUVGF CHVGT CPVK IQXGTPOGPV FGOQPUVTCVKQPU KP
*KU
FGCVJ UGPVGPEG KORQUGF KP
TGNCVGU VQ GOCKNU CPF C RJQPG ECNN JG CNNGIGFN[ TGEGKXGF
HTQO VJG 2GQRNGoU /QLCJGFKP 1TICPK\CVKQP QH +TCP 2/1+ *KU HCOKN[ FGPKGU VJCV VJGUG
EQPVCEVU VQQM RNCEG 6JG 2/1+ KU C DCPPGF QRRQUKVKQP ITQWR DCUGF KP +TCS YJKEJ CFXQECVGU
VJG QXGTVJTQY QH VJG +TCPKCP IQXGTPOGPV CPF JCU RTGXKQWUN[ GPICIGF KP CTOGF CEVKQP CICKPUV
VJG IQXGTPOGPV 1VJGT KPFKXKFWCNU UGPVGPEGF VQ FGCVJ HQT pGPOKV[ CICKPUV )QFq JCF HCOKN[
NKPMU VQ OGODGTU QH VJG 2/1+ NKXKPI KP C 2/1+ ECOR KP +TCS CPF JCF XKUKVGF TGNCVKXGU QT
HTKGPFU VJGTG
6JG +TCPKCP %CPCFKCP FWCN PCVKQPCN *COKF )JCUUGOK 5JCNN TGOCKPGF CV KOOKPGPV TKUM QH
GZGEWVKQP VJTQWIJQWV VJG [GCT *G YCU UGPVGPEGF VQ FGCVJ KP
HQT GURKQPCIG CPF EQ
QRGTCVKQP YKVJ VJG 2/1+ QP VJG DCUKU VJCV JG JCF QDVCKPGF EQPHKFGPVKCN OKNKVCT[ KPHQTOCVKQP
HTQO JKU DTQVJGT #NDQT\ )JCUUGOK 5JCNN YJQ JCF RTGXKQWUN[ YQTMGF CU C OGEJCPKECN GPIKPGGT
KP VJG +TCPKCP CTO[

1P ,CPWCT[
VJG 5WRTGOG %QWTV EQPHKTOGF VJG FGCVJ UGPVGPEG QH 5CGGF /CNGMRQWT C RGTOCPGPV
TGUKFGPV QH %CPCFC CPF +TCPKCP PCVKQPCN *G KU C YGD RTQITCOOGT YJQ YCU UGPVGPEGF VQ FGCVJ KP
HQT
KPUWNVKPI CPF FGUGETCVKPI +UNCO CHVGT UQHVYCTG JG JCF FGXGNQRGF HQT WRNQCFKPI RJQVQU QPNKPG JCF DGGP WUGF
YKVJQWV JKU MPQYNGFIG VQ RQUV RQTPQITCRJKE KOCIGU *G YCU CTTGUVGF KP 1EVQDGT
YJKNG XKUKVKPI JKU HCOKN[
KP +TCP *KU FGCVJ UGPVGPEG YCU UWURGPFGF KP &GEGODGT CHVGT JG GPVGTGF C RNGC KP YJKEJ JG TGRGPVGF HQT JKU
CEVKQPU
6YQ QVJGT KPFKXKFWCNU DNQIIGT 8CJKF #UIJCTK CPF YGDUKVG CFOKPKUVTCVQT #JOCF 4G\C *CUJGORQWT TGOCKPGF
QP FGCVJ TQY CYCKVKPI GZGEWVKQP KP TGNCVKQP VQ VJGKT QPNKPG CEVKXKVKGU
%JTKUVKCP RCUVQT ;QWUGH 0CFCTMJCPK UGPVGPEGF VQ FGCVJ D[ JCPIKPI HQT VJG WPEQFKHKGF ETKOG
QH pCRQUVCU[ HTQO +UNCOq KP
YCU TG VTKGF CPF HKPCNN[ CESWKVVGF KP 5GRVGODGT
CHVGT CNOQUV VJTGG [GCTU KP FGVGPVKQP *G YCU TG CTTGUVGF s KPVGPVKQPCNN[ s QP %JTKUVOCU &C[
&GEGODGT DWV CICKP TGNGCUGF KP GCTN[
(QWT OGP YGTG TGRQTVGFN[ UGPVGPEGF VQ FGCVJ D[ JCPIKPI HQT pUQFQO[q KP /C[ +P ,WN[
WPEQPHKTOGF TGRQTVU UWIIGUVGF VJCV VJG +TCPKCP CWVJQTKVKGU PQ NQPIGT KPVGPFGF VQ KORNGOGPV
VJG UVQPKPI UGPVGPEG JCPFGF FQYP VQ 5CMKPGJ /QJCOOCFK #UJVKCPK KP
HQT pCFWNVGT[
YJKNG OCTTKGFq CPF VJCV UJG EQWNF DG TGNGCUGF $WV JGT NGICN UVCVWU YCU WPENGCT KPENWFKPI
YJGVJGT CP[ RTKUQP UGPVGPEG KORQUGF HQT JGT CNNGIGF TQNG KP VJG OWTFGT QH JGT JWUDCPF UVKNN
TGOCKPGF *GT UVQPKPI UGPVGPEG JCF RTGXKQWUN[ DGGP UGPV VQ VJG 1HHKEG HQT VJG
+ORNGOGPVCVKQP QH 5GPVGPEGU CPF EQWNF VJGTGHQTG KH UVKNN CEVKXG DG ECTTKGF QWV CV CP[ VKOG
+P CFFKVKQP JGT NCUV NCY[GT ,CXKF *QWVCP -K[CP YJQ YCU CTTGUVGF KP
KU DGNKGXGF VQ
JCXG DGGP UGPVGPEGF VQ CV NGCUV HQWT [GCTU KP RTKUQP HQT TGRTGUGPVKPI JGT CPF YCU DCPPGF
HTQO RTCEVKUKPI NCY HQT HKXG [GCTU
+P ,CPWCT[ C TGXKUGF 2GPCN %QFG YCU RCUUGF D[ VJG %QWPEKN QH )WCTFKCPU CU RTGUGPVGF D[

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

RCTNKCOGPV DWV FKF PQV GPVGT KPVQ HQTEG FWTKPI VJG [GCT 'ZRNKEKV TGHGTGPEGU VQ VJG
RWPKUJOGPV QH UVQPKPI YGTG TGOQXGF KP
DWV TG KPUVCVGF KP GCTN[
5GZWCN
TGNCVKQPU QWVUKFG OCTTKCIG TGOCKPGF C ETKOG 7PFGT VJG FTCHV %QFG LWFIGU YQWNF UVKNN DG CDNG
VQ RCUU UVQPKPI UGPVGPEGU KPENWFKPI WPFGT #TVKENG
QH +TCPoU %QPUVKVWVKQP YJKEJ FKTGEVU
LWFIGU VQ WUG +UNCOKE NCY VQ TWNG QP C ECUG KP VJG CDUGPEG QH EQFKHKGF NCY 6JG PGY 2GPCN
%QFG YQWNF CNUQ EQPVKPWG VQ CNNQY LWFIGU VQ FGEKFG QP VJG OGTKVU QH C ECUG DCUGF QP VJGKT
UWDLGEVKXG pMPQYNGFIG QH VJG LWFIGq GNO G SC\K C MG[ GNGOGPV KP VJG EQPXKEVKQP QH 5CMKPGJ
/QJCOOCFK #UJVKCPK 1VJGT RTQRQUGF COGPFOGPVU YQWNF GPF VJG WUG QH VJG FGCVJ RGPCNV[
CICKPUV LWXGPKNG QHHGPFGTU HQT UQOG ETKOGU UWEJ CU FTWI VTCHHKEMKPI DWV PQV HQT OWTFGT
6TKCN RTQEGFWTGU KP +TCP CTG IGPGTCNN[ HNCYGF /CP[ FGCVJ UGPVGPEGU KP +TCP HQNNQY ITQUUN[
WPHCKT VTKCNU KP YJKEJ +TCPKCP EQWTVU HTGSWGPVN[ CEEGRV CU GXKFGPEG CNNGIGF pEQPHGUUKQPUq
GZVTCEVGF VJTQWIJ VQTVWTG CPF QVJGT KNN VTGCVOGPV 6GNGXKUGF pEQPHGUUKQPUq JCXG TGRGCVGFN[
DGGP WUGF D[ VJG CWVJQTKVKGU VQ KPETKOKPCVG FGVCKPGF KPFKXKFWCNU FWTKPI VJGKT VTKCNU /CP[
JCXG NCVGT TGVTCEVGF VJGUG pEQPHGUUKQPUq UVCVKPI VJCV VJG[ YGTG EQGTEGF KPVQ OCMKPI VJGO
UQOGVKOGU WPFGT VQTVWTG

1P #WIWUV +TCPKCP UVCVG VGNGXKUKQP EJCPPGN +468 DTQCFECUV C OKPWVG FQEWOGPVCT[ ECNNGF p6GTTQT %NWDq
UJQYKPI VJG pEQPHGUUKQPUq QH /C\[CT 'DTCJKOK +TCPKCP HQWPFGT QH C EKPGOC CPF VGNGXKUKQP RTQFWEVKQP
EQORCP[ DCUGF KP +TCS CPF QVJGT OGP CPF YQOGP CTTGUVGF YKVJ JKO HQT VJGKT CNNGIGF KPXQNXGOGPV KP VJG
MKNNKPIU QH HKXG +TCPKCP PWENGCT UEKGPVKUVU CPF CECFGOKEU +H EQPXKEVGF UQOG QT CNN YQWNF NKMGN[ HCEG VJG FGCVJ
RGPCNV[ /CLKF ,COCNK (CUJK QPG QH VJG OGP HGCVWTGF KP VJG FQEWOGPVCT[ JCF CNTGCF[ DGGP GZGEWVGF QP
/C[ HQNNQYKPI C 68 pEQPHGUUKQPq DTQCFECUV KP
7PFGT +TCPoU %QFG QH %TKOKPCN 2TQEGFWTGU FGHGPEG NCY[GTU CTG PQV RGTOKVVGF VQ HWNN[
TGRTGUGPV VJGKT ENKGPVU WPVKN HQTOCN EJCTIGU JCXG DGGP OCFG C RTQEGUU YJKEJ OC[ VCMG
OQPVJU #U C EQPUGSWGPEG FGVCKPGGU CTG UQOGVKOGU JGNF HQT OQPVJU KP KPEQOOWPKECFQ
FGVGPVKQP VJCV KU YKVJQWV CEEGUU VQ VJGKT NCY[GTU CPF TGNCVKXGU 5VCVG CRRQKPVGF NCY[GTU CTG
TCTGN[ CDNG VQ OQWPV CP CFGSWCVG FGHGPEG HQT VJGKT ENKGPVU YJQUG ECUG OC[ JCXG DGGP
CNNQECVGF QPN[ FC[U QT GXGP JQWTU DGHQTG VJG KPKVKCN VTKCN
.CY[GTU CTG PQV CNYC[U KPHQTOGF KP CFXCPEG QH VJGKT ENKGPVUo GZGEWVKQP FGURKVG VJG NGICN
TGSWKTGOGPV QH
JQWTUo PQVKEG CPF HCOKNKGU CTG PQV CNYC[U IKXGP CP QRRQTVWPKV[ HQT C HKPCN
XKUKV QT VQ TGEGKXG VJG DQF[ CPF GHHGEVU QH VJGKT TGNCVKXG CHVGT GZGEWVKQP +P OCP[ ECUGU VJG
QPN[ UKIP VJCV CP GZGEWVKQP KU KOOKPGPV KU YJGP FGCVJ TQY RTKUQPGTU CTG VCMGP HTQO VJGKT EGNNU
CPF VTCPUHGTTGF VQ RNCEGU NKMG 6GJTCPoU 'XKP 2TKUQP VJKU YQWNF JCRRGP
JQWTU DGHQTG VJG
UEJGFWNGF GZGEWVKQP FCVG 6JG HCOKNKGU QH VJG EQPXKEVU CTG QHVGP VQNF QPN[ C FC[ DGHQTG VJG
GZGEWVKQP YJGP VJG[ CTG ECNNGF VQ VJG RTKUQP HQT C HKPCN XKUKV (COKN[ OGODGTU JCXG QHVGP
TGRQTVGF VJCV FGCVJ TQY KPOCVGU JCF NQUV YGKIJV YGTG KP RQQT JGCNVJ GZRGTKGPEGF FGRTGUUKQP
CPF OGOQT[ NQUU CPF JCF DGGP UWDLGEVGF VQ RJ[UKECN CPF RU[EJQNQIKECN VQTVWTG 4GRQTVGF
GZCORNGU QH KNN VTGCVOGPV KPENWFG HNQIIKPIU UGXGTG DGCVKPIU DNKPFHQNFKPI DQKNKPI YCVGT DGKPI
RQWTGF QXGT KPOCVGU CPF VJTGCVU QH TCRG
+P ,WPG +TCP RWDNKEN[ EQORNCKPGF CDQWV GZGEWVKQPU QH +TCPKCP PCVKQPCNU KP 5CWFK #TCDKC KP
XKQNCVKQP QH TWNGU QP HCKT VTKCNU CPF EQPUWNCT CUUKUVCPEG CPF VJG +TCPKCP PGYU CIGPE[ TCP VJG
JGCFNKPG p'ZGEWVKQP QH +TCPKCP EKVK\GPU KP 5CWFK #TCDKC YCU C OGFKGXCN CEVq
# UVCTM TKUG KP GZGEWVKQPU YCU TGRQTVGF KP +TCS OCMKPI KV VJG EQWPVT[ YKVJ VJG VJKTF JKIJGUV

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

PWODGT QH GZGEWVKQPU KP VJG YQTNF CPF YKVJ VJG DKIIGUV TKUG KP EQPHKTOGF GZGEWVKQPU HTQO
#V NGCUV
RGQRNG YGTG GZGEWVGF CNOQUV VYKEG VJG MPQYP VQVCN HQT
CV NGCUV
CPF VJG JKIJGUV HKIWTG UKPEG
'ZGEWVKQPU YGTG QHVGP ECTTKGF QWV KP DCVEJGU YKVJ WR
VQ
KP C UKPING FC[ #V NGCUV HKXG YQOGP YGTG GZGEWVGF CPF CV NGCUV VYQ YGTG UGPVGPEGF VQ
FGCVJ #OPGUV[ +PVGTPCVKQPCN TGEQTFGF CV NGCUV
PGY FGCVJ UGPVGPEGU KP VQVCN DWV VJG TGCN
HKIWTG KU RQUUKDN[ KP VJG JWPFTGFU #EEQTFKPI VQ IQXGTPOGPV UVCVKUVKEU FGCVJ UGPVGPEGU
PWODGTGF DGVYGGP
CPF
KP GCEJ QH VJG RTGXKQWU HKXG [GCTU /QUV FGCVJ UGPVGPEGU CTG
KORQUGF HQT VGTTQTKUO TGNCVGF QHHGPEGU QVJGTU HQT OWTFGT #NN FGCVJ UGPVGPEGU CTG
CWVQOCVKECNN[ TGXKGYGF D[ +TCSoU %QWTV QH %CUUCVKQP CPF VJGP PGGF VQ DG TCVKHKGF D[ VJG
RTGUKFGPE[ DGHQTG CP GZGEWVKQP ECP DG ECTTKGF QWV *WPFTGFU QH RGQRNG TGOCKPGF QP FGCVJ
TQY YKVJ TCVKHKGF FGCVJ UGPVGPEGU VJG[ EQWNF DG GZGEWVGF CV CP[ VKOG
#DKF *COKF /CJOQWF 5CFFCO *WUUCKPoU RTGUKFGPVKCN UGETGVCT[ CPF DQF[IWCTF YCU
GZGEWVGF D[ JCPIKPI QP ,WPG *G JCF DGGP UGPVGPEGF VQ FGCVJ KP
D[ VJG 5WRTGOG
+TCSK %TKOKPCN 6TKDWPCN 5+%6 VQIGVJGT YKVJ 6CTKS #\K\ VJG HQTOGT (QTGKIP /KPKUVGT CPF
&GRWV[ 2TKOG /KPKUVGT CPF 5CFQWP 5JCMKT VJG HQTOGT +PVGTKQT /KPKUVGT #NN VJTGG YGTG
EQPXKEVGF QH RCTVKEKRCVKPI KP VJG ETCEMFQYP QP QRRQUKVKQP RQNKVKECN CEVKXKUVU WPFGT 5CFFCO
*WUUCKP 6CTKS #\K\ CPF 5CFQWP 5JCMKT TGOCKP CV TKUM QH KOOKPGPV GZGEWVKQP 1P
&GEGODGT +TCSK XKEG 2TGUKFGPV 6CTGS CN *CUJGOK PQY KP GZKNG KP 6WTMG[ CPF JKU UQP KP NCY
#JOGF 3CJVCP YGTG UGPVGPEGF VQ FGCVJ KP CDUGPVKC HQT RQUUGUUKQP CPF WUG QH YGCRQPU
6JGUG YGTG VJGKT HKHVJ TGURGEVKXG FGCVJ UGPVGPEGU KP
YKVJ VJG QVJGTU KORQUGF HQT
VGTTQTKUO TGNCVGF QHHGPEGU
/CP[ VTKCNU QH VJQUG UGPVGPEGF VQ FGCVJ HCKNGF VQ OGGV KPVGTPCVKQPCN UVCPFCTFU HQT HCKT VTKCNU
KPENWFKPI VJG WUG QH pEQPHGUUKQPUq QDVCKPGF WPFGT VQTVWTG CPF QVJGT KNN VTGCVOGPV &GHGPFCPVU
FGUETKDGF JQY VJG[ UWHHGTGF U[UVGOCVKE VQTVWTG YJKNG KP FGVGPVKQP KPENWFKPI DGKPI DGCVGP
YKVJ ECDNGU DWTPGF QP VJG HCEG YKVJ EKICTGVVGU CPF IKXGP GNGEVTKE UJQEMU VQ VJG JCPFU
YTKUVU HKPIGTU CPMNGU CPF HGGV QT YGTG NGHV KP C TQQO YKVJ YCVGT QP VJG HNQQT YJKNG CP GNGEVTKE
EWTTGPV YCU CRRNKGF VQ VJG YCVGT $WV EQWTVU EQPVKPWGF VQ KPENWFG pEQPHGUUKQPUq GXGP KH
HQTOCNN[ YKVJFTCYP CU RCTV QH VJG GXKFGPEG YJGP JCPFKPI FQYP C UGPVGPEG 5QOG +TCSK
VGNGXKUKQP UVCVKQPU DTQCFECUV VJGUG UGNH KPETKOKPCVKPI pEQPHGUUKQPUq DGHQTG VJG QRGPKPI QH C
VTKCN

(QWT +TCSK OGP 0CDJCP n#FGN *COFK /WoCF /WJCOOCF n#DGF n#OGT #JOCF -CUUCT CPF 5JCMKT /CJOQWF
n#PCF YGTG UGPVGPEGF VQ FGCVJ QP &GEGODGT HQT OGODGTUJKR QH CP CTOGF ITQWR CPF KPXQNXGOGPV KP
VGTTQTKUO TGNCVGF QHHGPEGU CHVGT CP WPHCKT VTKCN KP #PDCT YGUVGTP +TCS 6JG[ YGTG TGRQTVGF VQ JCXG DGGP
VQTVWTGF CHVGT VJGKT CTTGUV YJKNG DGKPI JGNF KPEQOOWPKECFQ HQT UGXGTCN YGGMU CV VJG &KTGEVQTCVG QH %QWPVGT
%TKOG KP 4COCFK VJG ECRKVCN QH #PDCT RTQXKPEG 6JGKT pEQPHGUUKQPUq YGTG VJGP DTQCFECUV QP C NQECN VGNGXKUKQP
EJCPPGN CN #PDCT QP CPF #RTKN 9JGP DTQWIJV VQ VTKCN VJG[ VQNF VJG #PDCT %TKOKPCN %QWTV VJCV VJG[ JCF
DGGP HQTEGF WPFGT VQTVWTG VQ pEQPHGUUq 9KVPGUU VGUVKOQP[ HTQO HGNNQY FGVCKPGGU CPF RJQVQITCRJU QH UQOG QH
VJG OGPoU KPLWTKGU UWRRQTVGF VJGKT CNNGICVKQPU 6JG OGFKECN GZCOKPCVKQP QH QPG QH VJG OGP CNUQ TGXGCNGF DWTPU
CPF QVJGT KPLWTKGU EQPUKUVGPV YKVJ VQTVWTG 0Q KPXGUVKICVKQP KPVQ VJGKT VQTVWTG CNNGICVKQPU KU MPQYP VQ JCXG DGGP
JGNF
#V NGCUV
RGQRNG YGTG UGPVGPEGF VQ FGCVJ KP ,QTFCP OQUV HQT OWTFGT 1P
CPF
VJG 9QTNF %QCNKVKQP #ICKPUV VJG &GCVJ 2GPCNV[ JGNF KVU )GPGTCN #UUGODN[ KP #OOCP

,WPG

#V NGCUV PKPG PGY FGCVJ UGPVGPEGU YGTG KORQUGF KP -WYCKV CNN HQT OWTFGT KPENWFKPI QP QPG

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

YQOCP +P VYQ ECUGU -WYCKVK PCVKQPCNU YGTG UGPVGPEGF HQT MKNNKPI HQTGKIP FQOGUVKE YQTMGTU
GORNQ[GF KP VJGKT JQWUGJQNFU QPG HTQO 0GRCN CPF QPG HTQO VJG 2JKNKRRKPGU
+P ,WPG VJG #OKT QH -WYCKV 5JGKMJ 5CDCJ CN #JOGF #N 5CDCJ TGLGEVGF C DKNN RCUUGF D[
-WYCKVoU RCTNKCOGPV VJCV YQWNF OCMG pDNCURJGO[q RWPKUJCDNG D[ FGCVJ 6JG FTCHV NCY YCU
KPVTQFWEGF HQNNQYKPI VJG CTTGUV QP
/CTEJ QH *COCF CN 0CSK C OGODGT QH -WYCKVoU 5JKoC
/WUNKO OKPQTKV[ YJQ YCU CEEWUGF QH RQUVKPI OGUUCIGU pKPUWNVKPIq VQ +UNCO QP VJG OKETQ
DNQIIKPI UKVG 6YKVVGT CPF QH ETKVKEK\KPI VJG NGCFGTU QH 5CWFK #TCDKC CPF $CJTCKP +P ,WPG JG
YCU UGPVGPEGF VQ
[GCTU QH JCTF NCDQWT KP RTKUQP
0Q GZGEWVKQPU YGTG ECTTKGF QWV KP .GDCPQP HQT VJG GKIJVJ EQPUGEWVKXG [GCT DWV CV NGCUV PKPG
FGCVJ UGPVGPEGU YGTG KUUWGF D[ DQVJ EKXKNKCP CPF OKNKVCT[ EQWTVU 5GXGP QH VJG UGPVGPEGU YGTG
KORQUGF QP RGQRNG EQPXKEVGF QH EQNNCDQTCVKPI YKVJ CPF IKXKPI KPHQTOCVKQP VQ +UTCGN VJG QVJGT
VYQ HQT ETKOGU KPXQNXKPI OWTFGT (KXG RGQRNG YGTG UGPVGPEGF VQ FGCVJ KP CDUGPVKC # RTQRQUGF
0CVKQPCN *WOCP 4KIJVU #EVKQP 2NCP NCWPEJGF KP &GEGODGT UWIIGUVGF UWDUVKVWVKPI NKHG
KORTKUQPOGPV HQT VJG FGCVJ RGPCNV[ KP CNN TGNGXCPV .GDCPGUG NCYU DWV JCF PQV DGGP GPFQTUGF
D[ RCTNKCOGPV D[ VJG GPF QH VJG [GCT
0Q LWFKEKCN GZGEWVKQPU YGTG TGRQTVGF HTQO .KD[C 6JG LWFKEKCN U[UVGO TGUWOGF QRGTCVKQPU KP
CPF KORQUGF CV NGCUV HKXG FGCVJ UGPVGPEGU +P 0QXGODGT C OKNKVCT[ EQWTV KP $GPIJC\K
UGPVGPEGF HKXG HQTOGT IQXGTPOGPV UQNFKGTU VQ FGCVJ KP CDUGPVKC HQT MKNNKPI CPF TCRKPI
EKXKNKCPU ETKOGU CNNGIGFN[ EQOOKVVGF FWTKPI VJG
CTOGF EQPHNKEV
+P ,WPG HQTOGT .KD[CP RTKOG OKPKUVGT CN $CIJFCFK CN /CJOQWFK YCU GZVTCFKVGF HTQO 6WPKUKC
VQ .KD[C KP XKQNCVKQP QH VJG RTKPEKRNG QH PQP TGHQWNGOGPV VJCV KU VJG RTKPEKRNG YJKEJ
RTQJKDKVU UVCVGU VQ VTCPUHGT TGHQWNGT RGQRNG YJGP VJGTG KU C TGCN TKUM QH UGTKQWU XKQNCVKQPU QH
JWOCP TKIJVU *KU VTKCN DGICP KP &GEGODGT /CWTKVCPKC GZVTCFKVGF #DFWNNCJ CN 5GPWUUK VJG
HQTOGT OKNKVCT[ KPVGNNKIGPEG EJKGH HQT %QNQPGN /WoCOOCT CN )CFFCHK VQ .KD[C KP 5GRVGODGT
$QVJ HCEG CP WPHCKT VTKCN CPF C TGCN TKUM QH VJG FGCVJ RGPCNV[
#V NGCUV UGXGP FGCVJ UGPVGPEGU YGTG KORQUGF KP /QTQEEQ 9GUVGTP 5CJCTC 1P /CTEJ CP
CRRGCNU EQWTV EQPHKTOGF C FGCVJ UGPVGPEG CICKPUV #FKN #N #VOCPK EQPXKEVGF KP 1EVQDGT
HQT RNCPPKPI C DQOD CVVCEM KP /CTTCMGEJ KP #RTKN QH VJCV [GCT CPF KPETGCUGF VJG NKHG UGPVGPEG
QH JKU CEEQORNKEG *CMKO &CJC VQ FGCVJ +P #RTKN (QTGKIP /KPKUVGT 5CCFGFFKPG 'N 1VJOCPK
KPHQTOGF RCTNKCOGPV VJCV VJG IQXGTPOGPV YCU CRRTQCEJKPI +TCSK CWVJQTKVKGU VQ TGFWEG VQ
RTKUQP VGTOU FGCVJ UGPVGPEGU KUUWGF CICKPUV /QTQEECP RTKUQPGTU EQPXKEVGF HQT VCMKPI RCTV KP
VGTTQTKUO TGNCVGF CEVU CPF VQ CNNQY VJGO VQ URGPF VJG TGUV QH VJGKT UGPVGPEGU KP /QTQEEQ CU
RCTV QH VJG #TCD ,WFKEKCN %Q QRGTCVKQP #ITGGOGPV
&WTKPI KVU 724 KP /C[ /QTQEEQ TGKVGTCVGF VJCV C FTCHV NCY YCU RGPFKPI YJKEJ CKOGF VQ
TGFWEG VJG PWODGT QH ECRKVCN ETKOGU 6JG IQXGTPOGPV CEEGRVGF TGEQOOGPFCVKQPU VQ EQPUKFGT
HWTVJGT UVGRU VQYCTFU CDQNKVKQP DWV TGLGEVGF KOOGFKCVG CDQNKVKQP QH VJG FGCVJ RGPCNV[ 6JG
(KTUV 4GIKQPCN %QPITGUU QP VJG &GCVJ 2GPCNV[ HQT VJG /KFFNG 'CUV CPF 0QTVJ #HTKEC TGIKQP
VQQM RNCEG KP 4CDCV HTQO
VQ
1EVQDGT KP RCTVPGTUJKR YKVJ /QTQEECP JWOCP TKIJVU
QTICPK\CVKQPU
+P 1OCP PQ FGCVJ UGPVGPEGU QT GZGEWVKQPU YGTG TGRQTVGF DWV VJKU EQWNF PQV DG XGTKHKGF +P
&GEGODGT 1OCP EJCPIGF KVU RTGXKQWU CDUVGPVKQP CPF XQVGF CICKPUV VJG 70)# TGUQNWVKQP

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

ECNNKPI HQT C OQTCVQTKWO QP VJG FGCVJ RGPCNV[
5KZ GZGEWVKQPU YGTG ECTTKGF QWV KP VJG CTGCU WPFGT VJG LWTKUFKEVKQP QH KP VJG 2CNGUVKPKCP
#WVJQTKV[ s C FQWDNKPI HTQO
s CPF CV NGCUV UKZ FGCVJ UGPVGPEGU KORQUGF KP VQVCN +P
VJQUG RCTVU QH VJG 9GUV $CPM YJKEJ CTG CFOKPKUVGTGF D[ VJG 2CNGUVKPKCP #WVJQTKV[ 2# PQ
GZGEWVKQPU YGTG ECTTKGF QWV DWV C OGODGT QH VJG UGEWTKV[ HQTEGU YCU UGPVGPEGF VQ FGCVJ D[ C
OKNKVCT[ VTKDWPCN &GCVJ UGPVGPEGU OWUV DG TCVKHKGF D[ VJG 2# 2TGUKFGPV DGHQTG
KORNGOGPVCVKQP YJKEJ JCU PQV JCRRGPGF UKPEG /CJOQWF #DDCU VQQM QHHKEG KP
5KZ OGP YGTG JCPIGF D[ VJG *COCU CWVJQTKVKGU KP VJG )C\C 5VTKR VJTGG GCEJ KP #RTKN CPF
,WN[ (KXG QH VJGO JCF DGGP EQPXKEVGF QH OWTFGT CPF QVJGT QHHGPEGU VJG QVJGT QH VTGCUQP CPF
DGKPI CP CEEGUUQT[ VQ OWTFGT 6YQ OGP YGTG UGPVGPEGF VQ FGCVJ KP )C\C HQT pEQNNCDQTCVKQPq
YKVJ VJG +UTCGNK CTO[ QPG KP ,CPWCT[ CPF QPG KP 5GRVGODGT 5VTQPI EQPEGTPU GZKUV QXGT VJG
HCKTPGUU QH VTKCNU KP )C\C KPENWFKPI RTQEGFWTGU DGHQTG OKNKVCT[ EQWTVU CPF VJG WUG QH HQTEGF
pEQPHGUUKQPUq #V NGCUV
RGQRNG JCXG DGGP GZGEWVGF D[ *COCU UKPEG
0Q GZGEWVKQPU YGTG ECTTKGF QWV DWV CV NGCUV QPG FGCVJ UGPVGPEG YCU KORQUGF KP 3CVCT QP C
5TK .CPMCP OCP HQT OWTFGT
5CWFK #TCDKC YCU VJG EQWPVT[ YKVJ VJG HQWTVJ JKIJGUV PWODGT QH GZGEWVKQPU KP VJG YQTNF #V
NGCUV
GZGEWVKQPU YGTG TGEQTFGF s ENQUG VQ VJG UCOG JKIJ NGXGN CU KP
'ZGEWVKQPU
YGTG ECTTKGF QWV HQT ETKOGU KPXQNXKPI MKNNKPIU DWV CV NGCUV
RGQRNG YGTG GZGEWVGF HQT PQP
NGVJCN ETKOGU VJCV CTG PQV CEEGRVGF CU pOQUV UGTKQWU ETKOGUq WPFGT KPVGTPCVKQPCN UVCPFCTFU
CRRN[KPI VQ VJG FGCVJ RGPCNV[ 6JGUG KPENWFGF CFWNVGT[ CTOGF TQDDGT[ DWTINCT[ FTWI
UOWIINKPI HQTOKPI C ICPI CPF EQOOKVVKPI VJGHV MKFPCRRKPI TCRG CPF pYKVEJETCHVq CPF
pUQTEGT[q +P RCTVKEWNCT VJGTG YCU C OCTMGF KPETGCUG KP GZGEWVKQPU HQT FTWI TGNCVGF QHHGPEGU
YKVJ CV NGCUV
RGQRNG GZGEWVGF KP
EQORCTGF YKVJ VJTGG KP
CPF QPN[ QPG QWV QH
GZGEWVKQPU KP
'ZGEWVKQPU CTG WUWCNN[ ECTTKGF QWV D[ DGJGCFKPI YKVJ C UYQTF QHVGP
KP RWDNKE 6JG DQFKGU CTG VTCPURQTVGF VQ DG DWTKGF KP WPOCTMGF ITCXGU +P CV NGCUV QPG ECUG KP
C 5WFCPGUG OCP YCU DGJGCFGF HQNNQYGF D[ YJCV KU MPQYP KP 5CWFK #TCDKC CU
ETWEKHKZKQP JKU UGXGTGF JGCF YCU UGYP DCEM QP VQ VJG DQF[ YJKEJ YCU NCVGT JWPI HTQO C RQNG
KP C RWDNKE RNCEG
#OPGUV[ +PVGTPCVKQPCN TGEQTFGF VJG KORQUKVKQP QH CV NGCUV
FGCVJ UGPVGPEGU DWV VJG TGCN
PWODGT KU NKMGN[ VQ DG OWEJ JKIJGT 5CWFK #TCDKC FQGU PQV JCXG C EQFKHKGF ETKOKPCN NCY DWV
CRRNKGU 5JCTK C NCY 1P
&GEGODGT C EQWTV KP ,GFFCJ DGICP RTQUGEWVKPI 4CKH $CFCYK HQT
CRQUVCU[ #P QPNKPG CEVKXKUV 4CKH $CFCYK JCF HQWPFGF C YGDUKVG HQT RQNKVKECN CPF UQEKCN
FGDCVG *KU RTQUGEWVKQP CRRGCTGF VQ DG CP CVVGORV D[ VJG CWVJQTKVKGU VQ KPVKOKFCVG JKO CPF
QVJGTU VT[KPI VQ GPICIG KP QRGP FGDCVGU KP 5CWFK #TCDKCP UQEKGV[ *CFK CN /WVGGH YCU
TGNGCUGF QP
(GDTWCT[ HQNNQYKPI C TQ[CN RCTFQP CHVGT DGKPI KP RTKUQP UKPEG
HQT
EQOOGPVU FGGOGF VQ DG DNCURJGOQWU *G JCF QTKIKPCNN[ DGGP UGPVGPEGF VQ FGCVJ DWV JKU
UGPVGPEG YCU NCVGT EQOOWVGF VQ C RTKUQP VGTO
%QWTV RTQEGGFKPIU HCNN HCT UJQTV QH KPVGTPCVKQPCN UVCPFCTFU HQT HCKT VTKCN &GHGPFCPVU CTG TCTGN[
CNNQYGF HQTOCN TGRTGUGPVCVKQP D[ C NCY[GT CPF KP OCP[ ECUGU CTG PQV KPHQTOGF QH VJG
RTQITGUU QH NGICN RTQEGGFKPIU CICKPUV VJGO &GHGPFCPVU OC[ DG JGNF KPEQOOWPKECFQ HQT
YGGMU CV C VKOG CPF OC[ DG EQPXKEVGF UQNGN[ QP VJG DCUKU QH pEQPHGUUKQPUq QDVCKPGF WPFGT
VQTVWTG CPF QVJGT KNN VTGCVOGPV QT FGEGRVKQP &GCVJ UGPVGPEGU JCXG VQ DG WRJGNF D[ C EQWTV QH

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

CRRGCN CPF VJG 5WRTGOG %QWTV VJGP UGPV VQ VJG -KPI HQT TCVKHKECVKQP DGHQTG CP GZGEWVKQP ECP
DG ECTTKGF QWV
# FKUVWTDKPI RCVVGTP QH FKUETKOKPCVKQP CICKPUV XWNPGTCDNG KPFKXKFWCNU EQPVKPWGF VQ DG
CRRCTGPV +P
QH VJQUG GZGEWVGF KP 5CWFK #TCDKC YGTG HQTGKIP PCVKQPCNU 1XGT VJG
RCUV HKXG [GCTU CP CXGTCIG QH VJTGG QWV QH GXGT[
RGQRNG GZGEWVGF YGTG HQTGKIP PCVKQPCNU s
OCKPN[ OKITCPV YQTMGTU HTQO FGXGNQRKPI EQWPVTKGU KP #HTKEC CPF #UKC

5KVK <CKPCD $KPVK &WJTK 4WRC CP +PFQPGUKCP PCVKQPCN CPF OQVJGT QH VYQ JCU DGGP FGVCKPGF KP /GFKPC 2TKUQP
UKPEG
5JG KU EWTTGPVN[ WPFGT UGPVGPEG QH FGCVJ CPF KU VJQWIJV VQ DG OGPVCNN[ KNN #EEQTFKPI VQ UQWTEGU KP
+PFQPGUKC KP 0QXGODGT
UJG CFOKVVGF UVCDDKPI JGT HGOCNG GORNQ[GT 7PFGT KPVGTTQICVKQP UJG UCKF UJG
JCF MKNNGF VJG YQOCP DGECWUG QH pOKUVTGCVOGPVq 5JG JCF PQ NGICN TGRTGUGPVCVKQP CV CP[ UVCIG CPF FKF PQV
JCXG CEEGUU VQ C EQPUWNCT TGRTGUGPVCVKXG FWTKPI VJG RQNKEG KPVGTTQICVKQP 6JG RQNKEG UWURGEVGF VJCV UJG
UWHHGTGF HTQO OGPVCN KNNPGUU CV VJG VKOG QH VJG KPVGTTQICVKQP $GHQTG UJG YCU CTTGUVGF 5KVK <CKPCD $KPVK &WJTK
4WRC UGPV NGVVGTU KP YJKEJ UJG UCKF VJCV JGT GORNQ[GT CPF JGT GORNQ[GToU UQP JCF CEVGF ETWGNN[ VQYCTFU JGT
%QPFKVKQPU KP 5[TKC OGCPV VJCV KV YCU KORQUUKDNG VQ QDVCKP EQPHKTOGF KPHQTOCVKQP CDQWV
GZGEWVKQPU QT FGCVJ UGPVGPEGU &WTKPI
RTQVGUVU ECNNKPI HQT TGHQTO YJKEJ JCF DGIWP KP
/CTEJ
GUECNCVGF KPVQ CP KPVGTPCN CTOGF EQPHNKEV DGVYGGP IQXGTPOGPV CPF QRRQUKVKQP
HQTEGU DTKPIKPI YKVJ KV OQTG XKQNGPEG CPF ECUWCNVKGU QP CNN UKFGU &GURKVG UQOG NKOKVGF
TGRQTVU KV YCU PQV RQUUKDNG VQ EQPHKTO YJGVJGT FGCVJ UGPVGPEGU YGTG KORQUGF QT KH GZGEWVKQPU
YGTG ECTTKGF QWV
1P
1EVQDGT 5[TKCP 2TGUKFGPV $CUJCT CN #UUCF TGRQTVGFN[ ITCPVGF C IGPGTCN COPGUV[ HQT
RGQRNG YJQ JCF EQOOKVVGF ETKOGU DGHQTG VJCV FCVG RGQRNG EQPXKEVGF QH pVGTTQTKUV ETKOGUq
UOWIINKPI YGCRQPU CPF FTWI VTCHHKEMKPI YGTG GZENWFGF #OPGUV[ +PVGTPCVKQPCN YCU WPCDNG VQ
EQPHKTO TGRQTVU VJCV UQOG FGCVJ UGPVGPEGU JCF DGGP EQOOWVGF VQ VGTOU QH KORTKUQPOGPV
#HVGT PQ FGCVJ UGPVGPEGU YGTG KORQUGF KP
EQWTVU KP 6WPKUKC TGUWOGF VJG KORQUKVKQP QH
ECRKVCN RWPKUJOGPV KP
#EEQTFKPI VQ QHHKEKCN HKIWTGU PKPG FGCVJ UGPVGPEGU YGTG
KORQUGF CNN KPXQNXKPI OWTFGTU +P ,CPWCT[ +PVGTKO 2TGUKFGPV /QPEGH /CT\QWMK EQOOWVGF
FGCVJ UGPVGPEGU VQ NKHG KORTKUQPOGPV YJKEJ CEEQTFKPI VQ VJG IQXGTPOGPV CRRNKGF VQ CNN
RTKUQPGTU VJGP QP FGCVJ TQY 1WUVGF RTGUKFGPV <KPG CN #DKFKPG $GP #NK YJQ KU KP GZKNG KP
5CWFK #TCDKC YCU UGPVGPEGF KP ,WPG VQ NKHG KORTKUQPOGPV D[ C OKNKVCT[ EQWTV KP JKU CDUGPEG
QXGT VJG MKNNKPI QH RTQVGUVGTU KP VJG
WRTKUKPIU CNVJQWIJ VJG RTQUGEWVKQP JCF ECNNGF HQT C
FGCVJ UGPVGPEG
+P KVU 724 QWVEQOG CFQRVGF D[ VJG 70 *WOCP 4KIJVU %QWPEKN QP
5GRVGODGT 6WPKUKC
TGLGEVGF TGEQOOGPFCVKQPU VQ CDQNKUJ VJG FGCVJ RGPCNV[ TGHGTTKPI VQ VJG QPIQKPI FGDCVG KP VJG
0CVKQPCN %QPUVKVWGPV #UUGODN[ CPF VJG PGGF HQT C FKCNQIWG KP YJKEJ pVJG YKNN QH VJG RGQRNG
YQWNF DG TGURGEVGFq 6JG PGY FTCHV %QPUVKVWVKQP RTQRQUGF KP #WIWUV EQPVCKPGF C RTQXKUKQP
RTQVGEVKPI VJG TKIJV VQ NKHG DWV KORNKEKVN[ CNNQYGF HQT VJG FGCVJ RGPCNV[ VJTQWIJ TGHGTGPEG VQ
QVJGT NCYU 6JG 2GPCN %QFG UVKNN RTGUETKDGF VJG FGCVJ RGPCNV[ HQT
QHHGPEGU KPENWFKPI UQOG
YKVJQWV NGVJCN EQPUGSWGPEGU
#U KP
QPG GZGEWVKQP VQQM RNCEG KP VJG 7PKVGF #TCD 'OKTCVGU 7#' #NGZ 4QJCPC C 5TK
.CPMCP YCU GZGEWVGF QP VJG OQTPKPI QH &GEGODGT KP #DW &JCDK *G JCF DGGP EQPXKEVGF
QH OWTFGTKPI CP 'OKTCVK GPIKPGGT KP
FWTKPI C UVTWIING KP VJG XKEVKOoU JQWUG 'ZGEWVKQPU

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

KP #DW &JCDK CPF QVJGT GOKTCVGU JCXG VQ DG WRJGNF D[ VJG 5WRTGOG %QWTV CPF GPFQTUGF D[
VJG EQWPVT[oU 2TGUKFGPV 'ZGEWVKQPU CTG ECTTKGF QWV D[ HKTKPI USWCF #V NGCUV
FGCVJ
UGPVGPEGU YGTG KORQUGF YKVJ CV NGCUV UKZ RGQRNG UGPVGPEGF VQ FGCVJ HQT UOWIINKPI FTWIU KPVQ
VJG EQWPVT[ 1VJGT ETKOGU TGEGKXKPI FGCVJ UGPVGPEGU KPENWFGF OWTFGT TCRG CPF VJG
UJQQVKPI CPF YQWPFKPI QH VYQ RQNKEG QHHKEGTU 1XGT JCNH QH VJG UGPVGPEGU YGTG IKXGP VQ HQTGKIP
PCVKQPCNU YJQ OCMG WR QXGT
QH VJG RQRWNCVKQP QPG KP VJG UWURGEVoU CDUGPEG
1P
0QXGODGT VJG /KPKUVGT QH 5VCVG HQT (QTGKIP #HHCKTU #PYCT /QJCOOGF )CTICUJ
TGRQTVGFN[ UVCVGF VJCV FGCVJ UGPVGPEGU EQWNF QPN[ DG KORQUGF D[ WPCPKOQWU EQWTV FGEKUKQP
#P[ FGCVJ UGPVGPEG KP VJG 7#' KU UWDLGEV VQ CP CWVQOCVKE CRRGCN
#V NGCUV
GZGEWVKQPU YGTG TGRQTVGF KP ;GOGP DWV VJG CEVWCN PWODGT KU DGNKGXGF VQ DG OWEJ
JKIJGT ;GOGP GZGEWVGF
RGQRNG KP
CPF CEEQTFKPI VQ QHHKEKCN KPHQTOCVKQP
KP
'ZGEWVKQPU CTG WUWCNN[ ECTTKGF QWV D[ UJQQVKPI YKVJ VJG GZGEWVKQPGT HKTKPI FKTGEVN[ CV
VJG JGCTV CV ENQUG TCPIG 5JCKMJ -JCNKF 0CJUJCN CPF #DFWJ /WJCOOCF 0CJUJCN TGRQTVGFN[
NGCFKPI OGODGTU QH QRRQUKVKQP RCTV[ +UNCJ YGTG GZGEWVGF QP
,CPWCT[ FGURKVG EQPEGTPU
VJCV VJGKT VTKCNU OC[ JCXG DGGP WPHCKT
#V NGCUV UGXGP PGY FGCVJ UGPVGPEGU YGTG KORQUGF DWV VJG TGCN PWODGT KU NKMGN[ VQ DG OWEJ
JKIJGT /QUV FGCVJ UGPVGPEGU YGTG KORQUGF HQT OWTFGT DWV CNUQ HQT QHHGPEGU PQV KPXQNXKPI
NGVJCN XKQNGPEG HQT GZCORNG FTWI QHHGPEGU %QPUGPUWCN JGVGTQUGZWCN CPF UCOG UGZ UGZWCN
KPVGTEQWTUG HQT C OCTTKGF RGTUQP KH VJG CEV KU PQV YKVJ VJG URQWUG KU CNUQ C ECRKVCN ETKOG CU
KU pEQOOWPKECVKPIq YKVJ HQTGKIP EQWPVTKGU +P CV NGCUV QPG ECUG KP #RTKN VJG 5WRTGOG %QWTV
EQPHKTOGF C FGCVJ UGPVGPEG QP CP KPFKXKFWCN HQWPF IWKNV[ QH pEQOOWPKECVKPIq YKVJ +TCP 6JG
UGPVGPEG YCU RCUUGF KP EQPPGEVKQP YKVJ CEVKXKVKGU UWRRQTVKPI KPFGRGPFGPEG HQT UQWVJGTP
;GOGP +P ,WPG VJTGG OGP YGTG UGPVGPEGF VQ FGCVJ KP CDUGPVKC KP EQPPGEVKQP YKVJ C
ITGPCFG CVVCEM QP C RTQVGUV KP 6CoK\\ KP (GDTWCT[
YJKEJ NGHV QPG RTQVGUVGT FGCF CPF
UGXGTCN KPLWTGF
6YQ QH VJQUG GZGEWVGF KP
CTG DGNKGXGF VQ JCXG DGGP LWXGPKNG QHHGPFGTU &GURKVG VJG HCEV
VJCV ;GOGPK NCY EWTTGPVN[ RTQJKDKVU WUG QH VJG FGCVJ RGPCNV[ CICKPUV LWXGPKNG QHHGPFGTU
GZGEWVKQPU EQPVKPWG VQ VCMG RNCEG DGECWUG QH FKURWVGU QXGT VJG CEVWCN CIG QH VJG CEEWUGF CV
VJG VKOG QH VJG CNNGIGF ETKOG (WCF #JOGF #NK #DFWNNC YCU GZGEWVGF KP 6CoK\\ RTKUQP QP
,CPWCT[ CHVGT DGKPI EQPXKEVGF QH C OWTFGT KP ,WPG
VJCV JG YCU CNNGIGF VQ JCXG
EQOOKVVGF YJKNG DGNQY VJG CIG QH
1P &GEGODGT *KPF #N $CTCVK YCU GZGEWVGF HQT
MKNNKPI C IKTN CDQWV UGXGP [GCTU CIQ YJGP UJG YCU TGRQTVGFN[
[GCTU QNF #V NGCUV
CNNGIGF
LWXGPKNG QHHGPFGTU YGTG WPFGT UGPVGPEG QH FGCVJ #V NGCUV HQWT QH VJGUG /QJCOOCF #DFWJ
3CUKO CN 6CYGGN /WJCOOCF #DFWN 9CJJCD (C[UCN CN 3CUUGO /WJCOOGF 6CJGT 6JCDGV
5COQWO CPF 9CNKF *C[MCN TGOCKPGF WPFGT KOOKPGPV VJTGCV QH GZGEWVKQP VJTQWIJQWV VJG
[GCT #TQWPF
RGQRNG YGTG TGRQTVGF VQ DG CV TKUM QH DGKPI UGPVGPEGF VQ FGCVJ HQT QHHGPEGU
CNNGIGFN[ EQOOKVVGF YJGP VJG[ YGTG DGNQY VJG CIG QH
+P ,WPG VJG /KPKUVT[ QH ,WUVKEG GUVCDNKUJGF CP KPFGRGPFGPV OGFKECN GZCOKPCVKQP EQOOKVVGG
VQ FGVGTOKPG CIGU QH CNNGIGF LWXGPKNG QHHGPFGTU GURGEKCNN[ KP ECUGU YJGTG DKTVJ EGTVKHKECVGU
YGTG WPCXCKNCDNG *QYGXGT KV NCEMGF VJG CRRTQRTKCVG NGICN UVCVWU CPF LWTKUFKEVKQP CPF EGCUGF
VQ HWPEVKQP YKVJKP UKZ OQPVJU QH KVU ETGCVKQP

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

+P /CTEJ VJG 70 *WOCP 4KIJVU %QOOKVVGG GZRTGUUGF EQPEGTP QXGT C PWODGT QH CURGEVU QH
;GOGPK FGCVJ RGPCNV[ NGIKUNCVKQP KPENWFKPI VJG ETKOKPCNK\CVKQP QH JQOQUGZWCNKV[ VJG FGCVJ
RGPCNV[ HQT LWXGPKNG QHHGPFGTU VJG NGICNKV[ QH UVQPKPI CPF VJG NCEM QH VJG TKIJV QH GXGT[ RGTUQP
UGPVGPEGF VQ FGCVJ VQ UGGM C RCTFQP

57$ 5#*#4#0 #(4+%#
&GXGNQROGPVU KP UGXGTCN EQWPVTKGU KP VJG TGIKQP UJQYGF VJCV VJG VTGPF VQYCTFU CDQNKVKQP
TGOCKPGF UVTQPI KP VJG TGIKQP 1P ,WN[ $GPKP DGECOG VJG
VJ 5VCVG 2CTV[ VQ VJG 5GEQPF
1RVKQPCN 2TQVQEQN VQ VJG +PVGTPCVKQPCN %QXGPCPV QP %KXKN CPF 2QNKVKECN 4KIJVU +%%24 CKOKPI
CV VJG CDQNKVKQP QH VJG FGCVJ RGPCNV[ /CFCICUECT UKIPGF VJKU VTGCV[ QP
5GRVGODGT 6JG
IQXGTPOGPV QH )JCPC CEEGRVGF VJG TGEQOOGPFCVKQP QH VJG %QPUVKVWVKQPCN 4GXKGY
%QOOKUUKQP VQ CDQNKUJ VJG FGCVJ RGPCNV[ KP VJG PGY %QPUVKVWVKQP #V VJG GPF QH VJG [GCT
VJGTG YGTG PQ RTKUQPGTU QP FGCVJ TQY KP 5KGTTC .GQPG $GPKP FKF PQV KORQUG CP[ FGCVJ
UGPVGPEGU PQT FKF $WTMKPC (CUQ /CNCYK CPF 5KGTTC .GQPG s WPNKMG KP
$WV CV NGCUV
GZGEWVKQPU YGTG ECTTKGF QWV KP HKXG EQWPVTKGU KP 5WD 5CJCTCP #HTKEC ,WFKEKCN
GZGEWVKQPU EQPVKPWGF KP 5QOCNKC
6TCPUKVKQPCN (GFGTCN )QXGTPOGPV 6()
2WPVNCPF
5QWVJ 5WFCP
CPF 5WFCP
CPF YGTG TGUWOGF KP $QVUYCPC
CPF )CODKC
6JGTG KU C TGCN TKUM QH TGPGYGF GZGEWVKQPU KP 0KIGTKC CHVGT VJG IQXGTPQT QH 'FQ 5VCVG
UKIPGF VYQ GZGEWVKQP YCTTCPVU KP 1EVQDGT 6JG NCUV MPQYP GZGEWVKQPU KP 0KIGTKC YGTG ECTTKGF
QWV KP
#OPGUV[ +PVGTPCVKQPCN TGEQTFGF CV NGCUV
FGCVJ UGPVGPEGU KORQUGF KP
EQWPVTKGU KP
UWD 5CJCTCP #HTKEC $QVUYCPC
%JCF
&GOQETCVKE 4GRWDNKE QH VJG %QPIQ
'SWCVQTKCN )WKPGC
)CODKC
)JCPC
)WKPGC
-GP[C
.KDGTKC
/CNK
/CWTKVCPKC
0KIGTKC
5QOCNKC
6()
2WPVNCPF
5QOCNKNCPF
5QWVJ 5WFCP
5WFCP
5YC\KNCPF
6CP\CPKC
<CODKC
CPF <KODCDYG
6JG PWODGT QH EQPHKTOGF FGCVJ UGPVGPEGU KPETGCUGF HTQO
KP
OCKPN[ DGECWUG QH
VJG JKIJ PWODGT QH FGCVJ UGPVGPEGU TGRQTVGF KP 5WFCP 6JG PWODGT QH EQWPVTKGU YJKEJ
KORQUGF FGCVJ UGPVGPEGU HGNN EQORCTGF VQ
YJGP UWEJ UGPVGPEGU YGTG TGRQTVGF KP
EQWPVTKGU *QYGXGT EQORTGJGPUKXG KPHQTOCVKQP EQWNF PQV DG QDVCKPGF HQT UQOG EQWPVTKGU
/KNKVCT[ EQWTVU EQPVKPWGF VQ KORQUG VJG FGCVJ RGPCNV[ KP VJG &GOQETCVKE 4GRWDNKE QH VJG
%QPIQ &4% CPF KP 5QOCNKC +P VJG &4% RGQRNG YGTG CNUQ UGPVGPEGF VQ FGCVJ KP CDUGPVKC
#EEQTFKPI VQ IQXGTPOGPV KPHQTOCVKQP PQ FGCVJ UGPVGPEGU YGTG KORQUGF KP $GPKP HQT VJG
UGEQPF [GCT TWPPKPI 1P
&GEGODGT VJG 0CVKQPCN #UUGODN[ TGRGCNGF FGCVJ RGPCNV[
RTQXKUKQPU KP VJG %TKOKPCN 2TQEGFWTG %QFG 6JKU YCU KP TGCEVKQP VQ C TWNKPI D[ VJG
%QPUVKVWVKQPCN %QWTV KP #WIWUV VJCV RTGXKQWU COGPFOGPVU JCF DGEQOG WPEQPUVKVWVKQPCN CHVGT
VJG EQWPVT[oU CEEGUUKQP VQ VJG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG +%%24 6JG TGOQXCN QH CNN
TGOCKPKPI FGCVJ RGPCNV[ RTQXKUKQPU KP PCVKQPCN NGIKUNCVKQP YCU RWV QP VJG RCTNKCOGPVCT[
CIGPFC HQT

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

#HVGT PQ GZGEWVKQPU KP $QVUYCPC KP
VYQ OGP YGTG GZGEWVGF KP
CPF HKXG FGCVJ
UGPVGPEGU YGTG KORQUGF <KDCPK 6JCOQ YCU JCPIGF HQT OWTFGT QP
,CPWCT[ 6JG
CWVJQTKVKGU FKF PQV TGVWTP JKU DQF[ VQ VJG HCOKN[ PQT FKF VJG[ TGXGCN YJGTG JG YCU DWTKGF
)CVNJCNQUCOCPI )CDQCMGNYG NQUV JKU CRRGCN KP (GDTWCT[ *G YCU PQV GZGEWVGF CU QH VJG GPF
QH VJG [GCT DWV NGICN CRRGCNU HQT C HQTOCN UVC[ QH GZGEWVKQP YGTG WPUWEEGUUHWN
+P $WTMKPC (CUQ PQ FGCVJ UGPVGPEGU YGTG KORQUGF FWTKPI VJG [GCT +P ,CPWCT[ VJG 2TGUKFGPV
QH VJG 0CVKQPCN #UUGODN[ 4QEJ /CTE %JTKUVKCP -CDQTÅ TGKVGTCVGF VQ #OPGUV[ +PVGTPCVKQPCN
JKU UWRRQTV HQT GXGPVWCN TCVKHKECVKQP QH VJG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG +%%24 DWV PQ
NGIKUNCVKXG UVGRU YGTG VCMGP
+P %COGTQQP IQXGTPOGPV KPHQTOCVKQP KPFKECVGF VJCV
RTKUQPGTU YGTG QP FGCVJ TQY CV VJG
UVCTV QH VJG [GCT +P 0QXGODGT VJG IQXGTPOGPV HWPFGF 0CVKQPCN %QOOKUUKQP QP *WOCP
4KIJVU CPF (TGGFQOU TGNGCUGF C TGRQTV KP YJKEJ KV ECNNGF HQT VJG CDQNKVKQP QH VJG FGCVJ
RGPCNV[
#EEQTFKPI VQ QHHKEKCN KPHQTOCVKQP VYQ OGP YGTG UGPVGPEGF VQ FGCVJ HQT OWTFGT KP %JCF
+P VJG &4% CV NGCUV
PGY FGCVJ UGPVGPEGU YGTG TGRQTVGF VQ JCXG DGGP JCPFGF FQYP 1P
/C[ C OKNKVCT[ EQWTV KP 5QWVJ -KXW TGRQTVGFN[ UGPVGPEGF VQ FGCVJ VYQ QHHKEGTU KP CDUGPVKC
'TKE 0ICDQ CPF 5CFFCO p4KPIQq HQT VJGKT CNNGIGF TQNG KP C OWVKP[ KP GCUVGTP %QPIQ KP #RTKN
1P
/CTEJ VJG VJGP /KPKUVGT QH (QTGKIP #HHCKTU 6JCODYG /YCODC RWDNKEN[ FGENCTGF VJG
IQXGTPOGPV U KPVGPVKQP VQ GUVCDNKUJ CP QHHKEKCN OQTCVQTKWO VJTQWIJQWV VJG EQWPVT[ DWV KP VJG
EQPVGZV QH C EJCPIG QH IQXGTPOGPV CPF GUECNCVKQP QH XKQNGPEG KP VJG GCUV QH VJG EQWPVT[ PQ
HWTVJGT UVGRU YGTG VCMGP
1PG FGCVJ UGPVGPEG YCU KORQUGF KP 'SWCVQTKCN )WKPGC 1P /C[ #OCFQW 6CODQWTC C
[GCT QNF /CNKCP PCVKQPCN YCU UGPVGPEGF VQ FGCVJ D[ VJG 2TQXKPEKCN %QWTV KP VJG EKV[ QH $CVC
HQT CIITCXCVGF OWTFGT QH C YQOCP CNVJQWIJ VJG RTQUGEWVKQP JCF CUMGF HQT C EWUVQFKCN
UGPVGPEG #P CRRGCN YCU NQFIGF YKVJ VJG 5WRTGOG %QWTV
+PHQTOCVKQP QP VJG WUG QH VJG FGCVJ RGPCNV[ KP 'TKVTGC KU XGT[ FKHHKEWNV VQ QDVCKP 6JG OCLQTKV[
QH FGVCKPGGU FQ PQV IQ VJTQWIJ C LWFKEKCN RTQEGFWTG CPF VJG IQXGTPOGPV IGPGTCNN[ TGHWUGU VQ
RTQXKFG TGNGXCPV KPHQTOCVKQP +P VJKU EQPVGZV PQ HQTOCN GZGEWVKQPU QT PGY FGCVJ UGPVGPEGU
YGTG TGRQTVGF DWV QXGT TGEGPV [GCTU VJGTG JCXG DGGP TGRQTVU VJCV KPOCVGU YGTG WPNCYHWNN[
MKNNGF KP RTKUQP
(QT VJG UGEQPF EQPUGEWVKXG [GCT PQ FGCVJ UGPVGPEGU YGTG TGRQTVGF KP 'VJKQRKC 6JTQWIJQWV
VJG [GCT LQWTPCNKUVU CPF OGODGTU QH RQNKVKECN QRRQUKVKQP RCTVKGU YGTG VTKGF WPFGT DTQCF
CPVK VGTTQTKUO NGIKUNCVKQP HQT ETKVKEK\KPI VJG IQXGTPOGPV ECNNKPI HQT TGHQTO CPF TGRQTVKPI QP
RTQVGUVU CPF CTTGUVU #OQPI QVJGTU LQWTPCNKUV 'UMKPFGT 0GIC YCU VTKGF QP EJCTIGU RQVGPVKCNN[
ECTT[KPI VJG FGCVJ RGPCNV[ *G YCU HQWPF IWKNV[ CPF UGPVGPEGF VQ
[GCTU KP RTKUQP HQT JKIJ
VTGCUQP CPF VGTTQTKUO TGNCVGF QHHGPEGU QP
,WN[
+P #WIWUV PKPG GZGEWVKQPU YGTG ECTTKGF QWV KP )CODKC VJG HKTUV KP VJG EQWPVT[ KP PGCTN[ VJTGG
FGECFGU #V NGCUV HKXG RGQRNG YGTG UGPVGPEGF VQ FGCVJ CPF CV NGCUV
RTKUQPGTU s OCP[
UGPVGPEGF CHVGT WPHCKT QT RQNKVKECNN[ OQVKXCVGF VTKCNU s TGOCKPGF QP FGCVJ TQY CV KOOKPGPV TKUM
QH GZGEWVKQP #OPGUV[ +PVGTPCVKQPCN TGENCUUKHKGF )CODKC RTGXKQWUN[ CDQNKVKQPKUV KP RTCEVKEG

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

CU TGVGPVKQPKUV

1P CPF #WIWUV KP C VGNGXKUKQP CFFTGUU VQ OCTM VJG /WUNKO HGCUV QH 'KF CN (KVT )CODKCP 2TGUKFGPV
;CJ[C ,COOGJ CPPQWPEGF VQ VJG PCVKQP VJCV D[ OKF 5GRVGODGT CNN GZKUVKPI FGCVJ UGPVGPEGU YQWNF DG pECTTKGF
QWV VQ VJG NGVVGTq 1P VJG GXGPKPI QH #WIWUV GKIJV OGP CPF QPG YQOCP YGTG VCMGP HTQO VJGKT EGNNU KP /KNG
RTKUQP PGCT VJG ECRKVCN EKV[ $CPLWN CPF YGTG UJQTVN[ CHVGT GZGEWVGF D[ HKTKPI USWCF 6YQ QH VJQUG GZGEWVGF
YGTG TGRQTVGF VQ JCXG DGGP 5GPGICNGUG PCVKQPCNU 6JG GZGEWVKQPU YGTG ECTTKGF QWV KP UGETGV CPF PGKVJGT VJG
KPFKXKFWCNU PQT VJGKT HCOKNKGU QT NCY[GTU YGTG KPHQTOGF KP CFXCPEG 6JG HCOKN[ OGODGTU FKF PQV TGEGKXG QHHKEKCN
EQPHKTOCVKQP QH VJGKT TGNCVKXGUo HCVG WPVKN #WIWUV VJTGG FC[U CHVGT VJG GZGEWVKQPU YGTG HKTUV TGRQTVGF 6JG
CWVJQTKVKGU FKF PQV TGVWTP VJG DQFKGU VQ VJG HCOKNKGU CPF ICXG PQ KPHQTOCVKQP CDQWV YJGTG VJG[ YGTG DWTKGF #V
NGCUV VJTGG QH VJG PKPG RTKUQPGTU GZGEWVGF /CNCPI 5QPMQ 6CDCTC 5CODC CPF $WDC ;CTDQG JCF PQV GZJCWUVGF
VJGKT NGICN CRRGCNU )CODKCoU %QPUVKVWVKQP UVCVGU VJCV CNN VJQUG UGPVGPEGF VQ FGCVJ OWUV DG IWCTCPVGGF VJG
TKIJV QH CRRGCN VQ VJG 5WRTGOG %QWTV 1P 5GRVGODGT 2TGUKFGPV ,COOGJ CPPQWPEGF C pEQPFKVKQPCNq
OQTCVQTKWO QP GZGEWVKQPU YJKEJ YQWNF DG pCWVQOCVKECNN[ NKHVGFq KH ETKOGU TCVGU KPETGCUGF
1P &GEGODGT +OCO $CDC .GKIJ YCU CTTGUVGF CPF FGVCKPGF KPEQOOWPKECFQ YKVJQWV EJCTIG +OCO $CDC
.GKIJ JCF UVTQPIN[ EQPFGOPGF VJG #WIWUV GZGEWVKQPU UVCVKPI VJCV VJG[ YGTG pWP +UNCOKEq CPF JCF ECNNGF HQT
VJG IQXGTPOGPV VQ TGVWTP VJG DQFKGU VQ VJGKT HCOKNKGU $GHQTG JKU CTTGUV JG JCF EQPVKPWGF VQ ETKVKEK\G VJG
IQXGTPOGPV CPF URGCM QWV CICKPUV VJG FGCVJ RGPCNV[ KP JKU UGTOQPU
5GEVKQP
QH )CODKCoU %QPUVKVWVKQP OCPFCVGU C TGXKGY QH VJG CDQNKVKQP QH VJG FGCVJ RGPCNV[
YKVJKP
[GCTU QH VJG FCVG QP YJKEJ VJG %QPUVKVWVKQP GPVGTGF KPVQ HQTEG ,CPWCT[
6JG
TGXKGY KU VJGTGHQTG OQTG VJCP HKXG [GCTU QXGTFWG 5GEVKQP
CNUQ TGUVTKEVU VJG FGCVJ RGPCNV[
VQ ETKOGU pTGUWNVKPI KP VJG FGCVJ QH CPQVJGT RGTUQPq CPF WPFGT )CODKCoU %TKOKPCN
2TQEGFWTCN %QFG VJG FGCVJ RGPCNV[ KU OCPFCVQT[ HQT OWTFGT *QYGXGT FGCVJ UGPVGPEGU JCXG
TGRGCVGFN[ DGGP KORQUGF HQT CNNGIGF ETKOGU QH VTGCUQP GXGP YJGP PQDQF[ YCU MKNNGF 1P
1EVQDGT VJG 5WRTGOG %QWTV WRJGNF VJG FGCVJ UGPVGPEGU QH UGXGP QH VJG GKIJV OGP EQPXKEVGF
QH VTGCUQP KP
HQT RTQEWTKPI CTOU GSWKROGPV CPF OGTEGPCTKGU KP RTGRCTCVKQP QH C EQWR
CICKPUV 2TGUKFGPV ,COOGJoU IQXGTPOGPV
#EEQTFKPI VQ IQXGTPOGPV KPHQTOCVKQP
FGCVJ UGPVGPEGU YGTG KORQUGF KP )JCPC CNN QP
OGP EQPXKEVGF QH OWTFGT
OGP CPF HQWT YQOGP YGTG WPFGT UGPVGPEG QH FGCVJ CV VJG GPF
QH VJG [GCT
+P ,WPG VJG IQXGTPOGPV CEEGRVGF VJG TGEQOOGPFCVKQP QH VJG %QPUVKVWVKQP 4GXKGY
%QOOKUUKQP VQ CDQNKUJ VJG FGCVJ RGPCNV[ KP VJG PGY %QPUVKVWVKQP CPF VQ TGRNCEG KV YKVJ NKHG
KORTKUQPOGPV #U C TGCUQP HQT CDQNKVKQP VJG IQXGTPOGPV UVCVGF KP KVU 9JKVG 2CRGT QP VJG
4GRQTV QH VJG %QOOKUUKQP VJCV p6JG UCPEVKV[ QH NKHG KU C XCNWG UQ OWEJ KPITCKPGF KP VJG
)JCPCKCP UQEKCN RU[EJG VJCV KV ECPPQV DG ICODNGF CYC[ YKVJ LWFKEKCN WPEGTVCKPVKGU q &WTKPI
KVU 7PKXGTUCN 2GTKQFKE 4GXKGY 724 CV VJG 70 *WOCP 4KIJVU %QWPEKN KP 1EVQDGT )JCPC
RQKPVGF QWV VJCV VJKU EJCPIG YQWNF JCXG VQ DG RWV VQ C RQRWNCT TGHGTGPFWO #NUQ KP 1EVQDGT
VJG PQOKPGG HQT CRRQKPVOGPV CU C 5WRTGOG %QWTV ,WFIG #PVJQP[ #NHTGF $GPPGJ ECNNGF HQT
VJG CDQNKVKQP QH VJG FGCVJ RGPCNV[ EKVKPI URGEKHKECNN[ VJG TKUM QH GZGEWVKPI CP KPPQEGPV RGTUQP
#V NGCUV VYQ FGCVJ UGPVGPEGU YGTG KORQUGF KP )WKPGC KP UGRCTCVG OWTFGT ECUGU
#V NGCUV
PGY FGCVJ UGPVGPEGU YGTG TGRQTVGF VQ JCXG DGGP KORQUGF KP -GP[C &WTKPI VJG
[GCT CV NGCUV GKIJV OGP YGTG UGPVGPEGF VQ FGCVJ HQT ETKOGU KPXQNXKPI TQDDGT[ CPF XKQNGPEG

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

DWV PQV KPVGPVKQPCN MKNNKPI +P &GEGODGT UKZ #FOKPKUVTCVKQP 2QNKEG QHHKEGTU YGTG TGRQTVGFN[
UGPVGPEGF VQ FGCVJ HQT QRGPKPI HKTG CPF MKNNKPI UGXGP VCZK QRGTCVQTU KP -CYCPIYCTG KP
+P UQOG QH VJGUG ECUGU LWFIGU CRRGCTGF VQ EQPVKPWG VQ CRRN[ VJG FGCVJ RGPCNV[ CU C
OCPFCVQT[ RWPKUJOGPV -GP[C PQ NQPIGT TGVCKPU C JCPIOCP
6JG UEQRG QH VJG FGCVJ RGPCNV[ YCU GZRCPFGF YJGP 2TGUKFGPV /YCK -KDCMK UKIPGF KPVQ NCY
VJG -GP[C &GHGPEG (QTEGU #EV KP #WIWUV 6JG #EV CNNQYGF HQT OGODGTU QH -GP[CoU &GHGPEG
(QTEGU DGKPI UGPVGPEGF VQ FGCVJ HQT C TCPIG QH QHHGPEGU KPENWFKPI VTGCEJGT[ UR[KPI CKFKPI
VJG GPGO[ CUUKUVKPI VJG GPGO[ YKVJ KPVGNNKIGPEG KPHQTOCVKQP CPF WPNCYHWNN[ CFXQECVKPI HQT C
EJCPIG QH IQXGTPOGPV
+P ,WN[ VJG 70 *WOCP 4KIJVU %QOOKVVGG GZRTGUUGF TGITGV VJCV C VQVCN QH
EQPXKEVU UVKNN
HCEGF VJG FGCVJ RGPCNV[ CPF VJCV VJG FGCVJ RGPCNV[ CRRNKGF VQ ETKOGU UWEJ CU TQDDGT[ YKVJ
XKQNGPEG VJCV FKF PQV SWCNKH[ CU pOQUV UGTKQWU ETKOGUq YKVJKP VJG OGCPKPI QH #TVKENG
QH
VJG +%%24 6JG %QOOKVVGG TGEQOOGPFGF CDQNKUJKPI VJG FGCVJ RGPCNV[ CPF CEEGFKPI VQ VJG
5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG +%%24 +V UWIIGUVGF VJCV VJG UVCVG UJQWNF KPVGPUKH[
CYCTGPGUU ECORCKIPU YKVJ C XKGY VQ EJCPIKPI VJG OKPFUGV QH VJG RWDNKE TGICTFKPI VJG
TGVGPVKQP QH VJG FGCVJ RGPCNV[
#V NGCUV HQWT FGCVJ UGPVGPEGU YGTG JCPFGF FQYP KP .KDGTKC 0Q HWTVJGT UVGRU YGTG VCMGP VQ
DTKPI VJG EQWPVT[oU NCYU QP VJG FGCVJ RGPCNV[ KPVQ EQORNKCPEG YKVJ .KDGTKCoU QDNKICVKQPU
WPFGT VJG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG +%%24 6JGUG QDNKICVKQPU KPENWFG VCMKPI CNN
PGEGUUCT[ OGCUWTGU VQ CDQNKUJ VJG FGCVJ RGPCNV[ YKVJKP .KDGTKCoU LWTKUFKEVKQP .KDGTKC CEEGFGF
VQ VJG 2TQVQEQN KP
DWV TG KPVTQFWEGF VJG FGCVJ RGPCNV[ KP
6JG FGCVJ RGPCNV[ KU
CNUQ CNNQYGF GZRNKEKVN[ KP #TVKENG
QH VJG %QPUVKVWVKQP
+P /CNCYK PQ GZGEWVKQPU JCXG DGGP ECTTKGF QWV UKPEG
TQY

DWV

OGP TGOCKPGF QP FGCVJ

+P ,CPWCT[ CP CTOGF EQPHNKEV DGICP KP VJG PQTVJ QH /CNK YJKEJ VTKIIGTGF KP /CTEJ C OKNKVCT[
EQWR KP VJG ECRKVCN $COCMQ 6JKU TGUWNVGF KP VJG FG HCEVQ RCTVKVKQP QH VJG EQWPVT[ KP #RTKN
0Q HWTVJGT UVGRU VQYCTFU CDQNKUJKPI VJG FGCVJ RGPCNV[ YGTG VCMGP #V NGCUV
FGCVJ
UGPVGPEGU YGTG KORQUGF +P ,CPWCT[ $CEJKT 5KOQWP YJQ JCF DGGP UGPVGPEGF VQ FGCVJ KP
/CNK KP
HQT CP CVVCEM QP VJG (TGPEJ GODCUU[ YCU GZVTCFKVGF VQ JKU JQOG UVCVG 6WPKUKC
#V NGCUV UKZ FGCVJ UGPVGPEGU YGTG KORQUGF KP /CWTKVCPKC KPENWFKPI VJTGG QP VGTTQTKUO TGNCVGF
EJCTIGU 1P
/C[ VJG %QWTV QH #RRGCN WRJGNF VJG FGCVJ UGPVGPEG KORQUGF QP /QJCOGF
#DFGNNCJK 1WNF #JOGFPCJ KP /CTEJ
#P CNNGIGF OGODGT QH #N 3CGFC KP VJG +UNCOKE
/CIJTGD #3+/ JG JCF DGGP HQWPF IWKNV[ QH UJQQVKPI CP #OGTKECP EKVK\GP KP 0QWCMEJQVV KP

6JG NCUV MPQYP GZGEWVKQPU KP 0KIGTKC YGTG ECTTKGF QWV KP
YJGP CV NGCUV UGXGP OGP YGTG
JCPIGF KP -CPQ UVCVG KP PQTVJGTP 0KIGTKC #EEQTFKPI VQ IQXGTPOGPV KPHQTOCVKQP
FGCVJ
UGPVGPEGU YGTG KORQUGF KP
CPF C VQVCN QH
RGQRNG YGTG WPFGT UGPVGPEG QH FGCVJ
CV VJG GPF QH VJG [GCT #OQPI VJQUG QP FGCVJ TQY YGTG OCP[ YJQ JCF DGGP UGPVGPEGF D[
OKNKVCT[ VTKDWPCNU YKVJQWV VJG TKIJV VQ CRRGCN DGHQTG VJG OQXG VQ FGOQETCE[ KP /C[
CPF WR VQ
LWXGPKNG QHHGPFGTU 4GRQTVGFN[
YQOGP YGTG WPFGT UGPVGPEG QH FGCVJ 6JG
1HHKEG QH VJG (GFGTCN #VVQTPG[ )GPGTCN CPF /KPKUVGT QH ,WUVKEG FGUETKDGF VJG OQTCVQTKWO QP

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

GZGEWVKQPU KP 0KIGTKC EWTTGPVN[ KP RNCEG CU pXQNWPVCT[q
&GCVJ UGPVGPEGU CTG OCPFCVQT[ HQT OWTFGT DWV CNUQ PQP NGVJCN QHHGPEGU UWEJ CU CTOGF
TQDDGT[ CPF VTGCUQP +P #WIWUV QHHKEKCNU KP %TQUU 4KXGT UVCVG UVCVGF VJCV CDQNKVKQP QH VJG FGCVJ
RGPCNV[ YCU DGKPI EQPUKFGTGF CU RCTV QH VJG QPIQKPI TGXKGY QH KVU ETKOKPCN LWUVKEG
CFOKPKUVTCVKQP
#P CRRGCN YCU RGPFKPI CICKPUV VJG FGEKUKQP QH VJG (GFGTCN *KIJ %QWTV KP #RTKN VQ NKHV VJG
KPLWPEVKQP KPKVKCNN[ ITCPVGF CICKPUV VJG GZGEWVKQP QH CNN FGCVJ TQY KPOCVGU KP C NCYUWKV
DTQWIJV D[ VJG 0KIGTKCP 0)1 .GICN &GHGPEG CPF #UUKUVCPEG 2TQLGEV .'&#2 KP .CIQU KP
+P NCVG 5GRVGODGT VJG *KIJ %QWTV QH .CIQU UVCVG FGENCTGF VJCV VJG OCPFCVQT[
KORQUKVKQP QH VJG FGCVJ RGPCNV[ YCU WPEQPUVKVWVKQPCN KP C ECUG DTQWIJV KP
D[ VJG .GICN
4GUQWTEGU %QPUQTVKWO CUUKUVGF D[ .'&#2 6JG TWNKPI LWFIG JGNF KP CFFKVKQP VJCV FGCVJ D[
JCPIKPI QT HKTKPI USWCF COQWPVGF VQ C XKQNCVKQP QH VJG EQPFGOPGFoU TKIJV VQ FKIPKV[ QH VJG
JWOCP RGTUQP CPF RTQVGEVKQP HTQO VQTVWTG CPF KPJWOCP QT FGITCFKPI VTGCVOGPV WPFGT
5GEVKQP
C QH VJG
%QPUVKVWVKQP *G ITCPVGF C RGTRGVWCN KPLWPEVKQP TGUVTCKPKPI VJG
.CIQU UVCVG IQXGTPOGPV HTQO ECTT[KPI QWV CP[ GZGEWVKQPU # PCVKQPYKFG UWTXG[ EQPFWEVGF D[
.'&#2 KP
CPF FKTGEVGF CV QXGT
RTQHGUUKQPCNU YQTMKPI KP VJG LWUVKEG UGEVQT
RTKUQPGTU CPF OGODGTU QH VJG IGPGTCN RWDNKE HQWPF VJCV C UNKO OCLQTKV[ QH VJG UVCMGJQNFGTU
RQNNGF
QRRQUGF VJG WUG QH VJG FGCVJ RGPCNV[ OCKPN[ QP TGNKIKQWU ITQWPFU
+P GCTN[ 1EVQDGT VJG IQXGTPQT QH VJG UQWVJ YGUVGTP UVCVG QH 'FQ UKIPGF GZGEWVKQP YCTTCPVU HQT
VYQ OGP EQPXKEVGF QH OWTFGT CPF UGPVGPEGF VQ FGCVJ D[ JCPIKPI KP
6JG GZGEWVKQP
YCTTCPVU YGTG UKIPGF FGURKVG CP QPIQKPI CRRGCN KP VJG %QWTV QH #RRGCN 4GRQTVGFN[ RTKUQP
CWVJQTKVKGU JCF KPHQTOGF VJG IQXGTPQT VJCV FGCVJ TQY KPOCVGU KP VJG TGIKQPCN $GPKP %KV[
RTKUQP YGTG DGEQOKPI pWPOCPCIGCDNGq 6JKU YCU KP TGHGTGPEG VQ VJG CNNGIGF KPXQNXGOGPV QH
UQOG QH VJGUG RTKUQPGTU KP C LCKNDTGCM KPEKFGPV 'ZGEWVKQPU OC[ DG ECTTKGF QWV D[ VJG 0KIGTKC
2TKUQPU 5GTXKEG QPEG C UVCVG IQXGTPQT JCU UKIPGF VJG FGCVJ YCTTCPV #U QH VJG GPF QH VJG [GCT
VJG GZGEWVKQPU JCF PQV DGGP ECTTKGF QWV
#V VJG GPF QH VJG [GCT VJGTG YGTG PQ RTKUQPGTU WPFGT UGPVGPEG QH FGCVJ KP 5KGTTC .GQPG
HQNNQYKPI RCTFQPU KUUWGF QP VJG QEECUKQP QH +PFGRGPFGPEG &C[ KP #RTKN +P 5GRVGODGT C OCP
YJQ JCF DGGP EQPXKEVGF QH OWTFGT KP
CPF UGPVGPEGF VQ FGCVJ YCU CESWKVVGF D[ VJG
%QWTV QH #RRGCN 6JG OCP JCF URGPV QXGT GKIJV [GCTU QP FGCVJ TQY DGHQTG JKU UGPVGPEG YCU
EQOOWVGF VQ NKHG KORTKUQPOGPV KP
0Q PGY FGCVJ UGPVGPEGU YGTG KORQUGF KP
*QYGXGT VJG FGCVJ RGPCNV[ YCU TGVCKPGF KP NCY HQT VTGCUQP CPF CIITCXCVGF TQDDGT[ CPF YCU
OCPFCVQT[ HQT OWTFGT
1P
1EVQDGT VJG 9QTNF &C[ CICKPUV VJG &GCVJ 2GPCNV[ 2TGUKFGPV 'TPGUV $CK -QTQOC YCU
CYCTFGF p#DQNKVKQPKUV QH VJG ;GCT
q D[ VJG 0)1 p*CPFU 1HH %CKPq 9JGP CEEGRVKPI VJG
CYCTF JG UCKF p5KGTTC .GQPGCPU CTG UVKNN TGGNKPI HTQO VJQUG NCTIGUV PWODGTU QH GZGEWVKQPU
ECTTKGF QWV QP C UKPING FC[ D[ CIGPVU QH VJG UVCVG =
RGQRNG KP
CPF
RGQRNG KP
FWTKPI VJG EKXKN YCT? 5KGTTC .GQPGCPU FQPoV YCPV C TGRGCV QH UVCVG UCPEVKQPGF
GZGEWVKQPU q
#V NGCUV UKZ GZGEWVKQPU YGTG ECTTKGF QWV CPF C VQVCN QH CV NGCUV
RGQRNG YGTG UGPVGPEGF VQ
FGCVJ KP 5QOCNKC #EEQTFKPI VQ KPHQTOCVKQP D[ VJG (GFGTCN )QXGTPOGPV HQWT GZGEWVKQPU
YGTG ECTTKGF QWV KP /QICFKUJW CPF
FGCVJ UGPVGPEGU YGTG KORQUGF *QYGXGT #OPGUV[

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

+PVGTPCVKQPCNoU QYP OQPKVQTKPI KPFKECVGF VJCV CV NGCUV HKXG GZGEWVKQPU QEEWTTGF +P ,CPWCT[
CPF ,WN[ QPG CPF HQWT 6TCPUKVKQPCN (GFGTCN )QXGTPOGPV 6() UQNFKGTU TGURGEVKXGN[ YGTG
GZGEWVGF D[ HKTKPI USWCF KP VJG OCKP RQNKEG EQORQWPF CHVGT C 6() OKNKVCT[ EQWTV HQWPF VJGO
IWKNV[ QH MKNNKPI QVJGT 6() UQNFKGTU CPF EKXKNKCPU +P #WIWUV VJG pVTCPUKVKQPCNq RGTKQF KP
5QOCNKC GPFGF CPF C PGY IQXGTPOGPV s VJG (GFGTCN )QXGTPOGPV QH VJG 5QOCNK 4GRWDNKE s
YCU HQTOGF # PGY %QPUVKVWVKQP YCU CRRTQXGF KP #WIWUV
#V NGCUV QPG GZGEWVKQP YCU ECTTKGF QWV CPF CV NGCUV UGXGP RGQRNG YGTG UGPVGPEGF VQ FGCVJ KP
VJG UGOK CWVQPQOQWU TGIKQP QH 2WPVNCPF KP PQTVJGTP 5QOCNKC +P ,WPG C EQPXKEVGF OWTFGTGT
YCU UGPVGPEGF CPF RWDNKEN[ GZGEWVGF KP 3CTFJQ 1P
1EVQDGT C OKNKVCT[ EQWTV UGPVGPEGF
VQ FGCVJ C ;GOGPK OCP HQT DTKPIKPI C ECEJG QH YGCRQPU CPF GZRNQUKXGU QP C DQCV HTQO ;GOGP
KPVQ VJG EQWPVT[ +P VJG UGNH FGENCTGF 4GRWDNKE QH 5QOCNKNCPF
FGCVJ UGPVGPEGU YGTG
TGRQTVGF HQT MKNNKPI UQNFKGTU CPF EKXKNKCPU
+P QPN[ KVU UGEQPF [GCT CU CP KPFGRGPFGPV UVCVG CPF 70 OGODGT 5QWVJ 5WFCP EQPVKPWGF VQ
WUG VJG FGCVJ RGPCNV[ FGURKVG YGNN FQEWOGPVGF YGCMPGUUGU KP VJG EQWPVT[oU NGICN U[UVGO #V
NGCUV HKXG GZGEWVKQPU YGTG ECTTKGF QWV VYQ OGP YGTG JCPIGF KP ,WDC RTKUQP QP
#WIWUV
HQNNQYGF D[ VJTGG HWTVJGT GZGEWVKQPU KP 9CW 2TKUQP QP 5GRVGODGT /QTG VJCP
RTKUQPGTU
YGTG QP FGCVJ TQY UJCEMNGF CPF ETQYFGF KPVQ ETCORGF CPF FKTV[ EGNNU 6JG XCUV OCLQTKV[ QH
RTKUQPGTU QP FGCVJ TQY YGTG PQV TGRTGUGPVGF D[ EQWPUGN KP VTKCNU VJCV QHVGP NCUVGF QPN[
OKPWVGU 5QWVJ 5WFCPGUG NCY TGSWKTGU VJG 5WRTGOG %QWTV VQ TGXKGY CPF EQPHKTO CNN FGCVJ
UGPVGPEGU CPF VJCV PQ FGCVJ UGPVGPEG KU ECTTKGF QWV YKVJQWV CRRTQXCN D[ VJG 2TGUKFGPV
1P
5GRVGODGT VJG 2GTOCPGPV 4GRTGUGPVCVKXG QH 5QWVJ 5WFCP KP )GPGXC 4KGM 2WQM 4KGM
VQNF VJG 70 *WOCP 4KIJVU %QWPEKN VJCV p5QWVJ 5WFCP CITGGU YKVJ e VJG NQIKE QH CDQNKUJKPI
VJG FGCVJ RGPCNV[ $WV YG DGNKGXG VJCV VJKU KU C RTQEGUU VJCV EQWNF DG CRRTQCEJGF ITCFWCNN[ q
# IQXGTPOGPV URQMGURGTUQP EQPHKTOGF KP 0QXGODGT VJCV GZKUVKPI FGCVJ RGPCNV[ NGIKUNCVKQP
YQWNF DG TGXKGYGF CU RCTV QH VJG QPIQKPI EQPUVKVWVKQPCN TGXKGY RTQEGUU VQ TGRNCEG VJG
6TCPUKVKQPCN %QPUVKVWVKQP QH
#V NGCUV
GZGEWVKQPU CPF CV NGCUV
FGCVJ UGPVGPEGU YGTG TGRQTVGF KP 5WFCP 6YQ
YQOGP +PVKUCT 5JCTKH #DFCNNCJ CPF .C[NC +DTCJKO +UUC ,WOWN YGTG UGPVGPEGF VQ FGCVJ D[
UVQPKPI QP EJCTIGU QH pCFWNVGT[ YJKNG OCTTKGFq KP UGRCTCVG ECUGU KP /C[ CPF ,WN[ +P DQVJ
ECUGU VJG YQOGP YGTG UGPVGPEGF CHVGT WPHCKT VTKCNU KPXQNXKPI HQTEGF EQPHGUUKQPU 6JG
UGPVGPEGU YGTG UWDUGSWGPVN[ QXGTVWTPGF QP CRRGCN CPF DQVJ YQOGP YGTG TGNGCUGF
6JG 5WFCPGUG CWVJQTKVKGU EQPVKPWGF VQ WUG VJG FGCVJ RGPCNV[ CPF YKFG TCPIKPI RQYGTU WPFGT
VJG
0CVKQPCN 5GEWTKV[ #EV VQ QRRTGUU TGCN QT RGTEGKXGF CEVKXKUVU QH RQNKVKECN QRRQUKVKQP
ITQWRU #N 6QO *COGF 6WVW C OGODGT QH VJG CTOGF QRRQUKVKQP ITQWR ,WUVKEG CPF 'SWCNKV[
/QXGOGPV KP &CTHWT YGUVGTP 5WFCP YCU UGPVGPEGF VQ FGCVJ D[ JCPIKPI KP
HQT ETKOGU
CICKPUV VJG UVCVG 6JG IQXGTPOGPV JCF CEEGNGTCVGF VJG NGICN RTQEGUU D[ HKNKPI CRRGCNU YKVJQWV
KPHQTOKPI JKO QT JKU NCY[GT 6JG GZGEWVKQP YCU UWURGPFGF KP ,WPG RGPFKPI CP CRRGCN VQ VJG
%QPUVKVWVKQPCN %QWTV

+P ,WPG
CP CTOGF EQPHNKEV DTQMG QWV KP VJG 5QWVJGTP -QTFQHCP UVCVG UQWVJGTP 5WFCP DGVYGGP
IQXGTPOGPV HQTEGU CPF VJG 5WFCP 2GQRNGoU .KDGTCVKQP #TO[ 0QTVJ VJG OKNKVCT[ YKPI QH VJG 5WFCP 2GQRNGoU
.KDGTCVKQP /QXGOGPV 0QTVJ 52./ 0 5WFCPGUG VGCEJGT CPF CEVKXKUV ,CNKNC -JCOKU -QMQ C 0WDC HTQO
5QWVJGTP -QTFQHCP CPF C OGODGT QH 52./ 0 XQNWPVGGTGF VQ RTQXKFG JWOCPKVCTKCP UWRRQTV VQ RGQRNG YJQ JCF

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

HNGF VJGKT JQOGU KP 5QWVJGTP -QTFQHCP +P VJG UCOG OQPVJ s ,WPG
s UJG CRRGCTGF KP C ;QWVWDG XKFGQ KP
YJKEJ UJG FGPQWPEGF VJG EQPFKVKQPU KP EQPHNKEV CHHGEVGF CTGCU CPF ECNNGF HQT C EGCUGHKTG 5JG YCU CTTGUVGF KP
/CTEJ
CPF TGOCKPGF FGVCKPGF HQT VJG TGUV QH VJG [GCT YKVJQWV EJCTIG CPF HQT C VKOG KP UQNKVCT[
EQPHKPGOGPV ,CNKNC -JCOKU -QMQ YCU EJCTIGF YKVJ HKXG ETKOKPCN EQWPVU QP &GEGODGT VYQ QH YJKEJ s
pWPFGTOKPKPI VJG EQPUVKVWVKQPCN U[UVGOq CPF pYCIKPI YCT CICKPUV VJG UVCVGq s ECTT[ VJG FGCVJ RGPCNV[
#OPGUV[ +PVGTPCVKQPCN DGNKGXGU VJCV UJG YCU FGVCKPGF DGECWUG QH JGT JWOCPKVCTKCP YQTM CPF RGCEGHWN
GZRTGUUKQP QH JGT XKGYU
1PG FGCVJ UGPVGPEG YCU KORQUGF KP 5YC\KNCPF +PFKXKFWCNK\GF CUUGUUOGPVU KP CRRN[KPI VJG
FGCVJ RGPCNV[ CTG PQY DGEQOKPI VJG PQTO UKPEG #TVKENG
QH VJG %QPUVKVWVKQP QH
RTQJKDKVU VJG OCPFCVQT[ FGCVJ RGPCNV[ +P 0QXGODGT VJG *KIJ %QWTV CYCTFGF C NQPI RTKUQP
UGPVGPEG VQ C
[GCT QNF OCP FGURKVG VJG CNNGIGF DTWVCNKV[ QH VJG OWTFGT JG YCU EQPXKEVGF
QH VJG LWFIG HQWPF UQOG OKVKICVKPI EKTEWOUVCPEGU KPENWFKPI VJG [QWPI CIG QH VJG QHHGPFGT
CPF VJG RQUUKDKNKV[ QH TGKPVGITCVKQP KPVQ UQEKGV[ $WV KP CPQVJGT ECUG /EKPKUGNK ,QOQ 5KOGNCPG
YCU UGPVGPEGF VQ FGCVJ HQT C OWTFGT EQOOKVVGF HQT HKPCPEKCN ICKP +P C UGRCTCVG ECUG VJG
5WRTGOG %QWTV QH #RRGCN TGLGEVGF VJG CRRGCN QH &CXKF 5KOGNCPG UGPVGPEGF VQ FGCVJ HQT VJG
OWTFGTU QH
YQOGP KP
*KU NCUV TGOGF[ CXCKNCDNG WPFGT PCVKQPCN NCY KU PQY C
ENGOGPE[ RGVKVKQP &GURKVG KVU EQPHKTOCVKQP QH KVU UVCVWU CU CDQNKVKQPKUV KP RTCEVKEG FWTKPI KVU
724 5YC\KNCPF UVCVGF KP /CTEJ VJCV KV YCU PQV [GV TGCF[ VQ CEEGRV TGEQOOGPFCVKQPU VQ
TCVKH[ VJG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG +%%24 CPF VQ CDQNKUJ VJG FGCVJ RGPCNV[
6JTGG PGY FGCVJ UGPVGPEGU YGTG TGRQTVGF HTQO 6CP\CPKC 1P
0QXGODGT VJG *KIJ %QWTV KP
&CT GU 5CNCCO UGPVGPEGF VQ FGCVJ VJTGG HQTOGT OGODGTU QH VJG 6CP\CPKC 2GQRNGoU &GHGPEG
(QTEGU 62&( HQT OWTFGT #EEQTFKPI VQ VJG .GICN CPF *WOCP 4KIJVU %GPVTG .*4% FGCVJ
UGPVGPEGU CTG KORQUGF HQT OWTFGT VTGCUQP CPF OKNKVCT[ TGNCVGF QHHGPEGU +P /CTEJ VJG
%QWTV QH #RRGCN WRJGNF VYQ FGCVJ UGPVGPEGU KORQUGF HQT OWTFGT KPENWFKPI QPG HQT VJG MKNNKPI
QH CP CNDKPQ IKTN KP
+P KVU QDUGTXCVKQPU QP 724 TGEQOOGPFCVKQPU QH
/CTEJ VJG
IQXGTPOGPV TGURQPFGF VJCV KV FKF PQV EWTTGPVN[ EQPUKFGT UKIPKPI CPF TCVKH[KPI VJG 5GEQPF
1RVKQPCN 2TQVQEQN VQ VJG +%%24 C RTKQTKV[ +V CNUQ TGLGEVGF TGEQOOGPFCVKQPU VQ GUVCDNKUJ C
OQTCVQTKWO QP GZGEWVKQPU UVCVKPI VJCV pKPVGTPCN EQPUWNVCVKQPU CPF RWDNKE QRKPKQP UJQWNF DG
IKXGP JKIJGUV EQPUKFGTCVKQP DGHQTG CP[ RQNKE[ OGCUWTG KU WPFGTVCMGPq *QYGXGT YJGP .*4%
KPVGTXKGYGF
RGQRNG KV HQWPF VJCV VJTGG SWCTVGTU QH KPVGTXKGYGGU VJQWIJV VJCV VJG FGCVJ
RGPCNV[ KU pPQV IQQFq CU C RWPKUJOGPV
+P VJG CHVGTOCVJ QH VJG
-KIWNC LWFIGOGPV KP YJKEJ VJG 5WRTGOG %QWTV QWVNCYGF
OCPFCVQT[ FGCVJ UGPVGPEGU UQOG LWFIGU KP 7ICPFC TGUQTVGF VQ NGPIVJ[ RTKUQP VGTOU KPUVGCF
UWEJ CU
QT
[GCTU HQT ECRKVCN QHHGPEGU 7ICPFC TGVCKPU VJG FGCVJ RGPCNV[ HQT
EKXKNKCP
CPF OKNKVCT[ QHHGPEGU
+P (GDTWCT[ VJG p#PVK *QOQUGZWCNKV[ $KNNq YJKEJ KPENWFGF KPETGCUGF RGPCNVKGU KPENWFKPI NKHG
KORTKUQPOGPV HQT UGZWCN CEVKXKVKGU DGVYGGP EQPUGPVKPI CFWNVU QH VJG UCOG UGZ YCU
TGKPVTQFWEGF KP 2CTNKCOGPV +V JCF QTKIKPCNN[ DGGP RTQRQUGF KP
CPF KPENWFGF VJG FGCVJ
RGPCNV[ HQT VJG QHHGPEG QH pCIITCXCVGF JQOQUGZWCNKV[q +P 0QXGODGT VJG DKNNoU CWVJQT RWDNKEN[
ENCKOGF VJCV VJG FGCVJ RGPCNV[ ENCWUG JCF DGGP TGOQXGF DWV VJG DKNN CU EQPUKFGTGF D[ VJG
2CTNKCOGPVCT[ CPF .GICN #HHCKTU %QOOKVVGG YCU PQV OCFG RWDNKE 2CTNKCOGPV FKF PQV FGDCVG
VJG DKNN RGPFKPI C TGRQTV D[ VJG %QOOKVVGG 1VJGT QHHGPEGU TCKUGF D[ RQNKVKECN NGCFGTU VQ
OCMG UWDLGEV VQ VJG FGCVJ RGPCNV[ KPENWFGF OKUCRRTQRTKCVKQP QH HWPFU D[ RWDNKE QHHKEKCNU CPF
UGZWCN CDWUG QH EJKNFTGP

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

+P /CTEJ VJG IQXGTPOGPV FKF PQV CEEGRV 724 TGEQOOGPFCVKQPU QP VJG CDQNKVKQP QH VJG FGCVJ
RGPCNV[ s YJKEJ KPENWFGF GUVCDNKUJKPI C OQTCVQTKWO QP GZGEWVKQPU CPF TCVKH[KPI VJG 5GEQPF
1RVKQPCN 2TQVQEQN VQ VJG +%%24 s QP VJG DCUKU VJCV VJG RTQRQUCNU FKF PQV GPLQ[ UWRRQTV FWTKPI
VJG EQWPVT[ YKFG EQPUVKVWVKQP OCMKPI EQPUWNVCVKXG RTQEGUU
#V NGCUV UGXGP FGCVJ UGPVGPEGU YGTG KORQUGF KP <CODKC CNN HQT OWTFGT 6JG 5WRTGOG %QWTV
WRJGNF CV NGCUV VJTGG UGPVGPEGU KPENWFKPI VYQ KORQUGF HQT CTOGF TQDDGT[ +P ,WN[
QWV QH
UQOG
KPOCVGU WPFGT UGPVGPEG QH FGCVJ KP /WMQDGMQ /CZKOWO 2TKUQP -CDYG NQFIGF C
ECUG YKVJ VJG .WUCMC *KIJ %QWTV QXGT VJG 5WRTGOG %QWTVoU FGNC[ KP EQPUKFGTKPI VJGKT CRRGCNU
&WTKPI C XKUKV VQ VJG RTKUQP 8KEG 2TGUKFGPV )W[ 5EQVV YCU TGRQTVGFN[ UJQEMGF D[ VJG
EQPFKVKQPU QP FGCVJ TQY YJGTG GCEJ QPG RGTUQP EGNN JQNFU WR VQ GKIJV RGQRNG
+P /CTEJ VJG 70 *WOCP 4KIJVU %QOOKVVGG HQWPF VJCV <CODKC JCF XKQNCVGF #TVKENG QH VJG
+%%24 CU VJG CRRGCN QH C FGCVJ UGPVGPEG KORQUGF HQT OWTFGT KP
D[ VJG 5WRTGOG %QWTV
JCF DGGP RGPFKPI HQT PGCTN[
[GCTU 6JG ECUG HKNG JCF CRRCTGPVN[ DGGP NQUV 6JKU VQIGVJGT
YKVJ VJG RU[EJQNQIKECN FKUVTGUU ECWUGF D[ VJG RTQNQPIGF FGVGPVKQP QP FGCVJ TQY YCU CNUQ
UGGP CU XKQNCVKPI #TVKENG QH VJG +%%24 &WTKPI KVU 724 KP 1EVQDGT <CODKC PQVGF VJCV
CDQNKVKQP QT TGVGPVKQP QH VJG FGCVJ RGPCNV[ YQWNF DG FKUEWUUGF FWTKPI VJG QPIQKPI RTQEGUU HQT
CFQRVKPI C PGY %QPUVKVWVKQP
#V NGCUV
PGY FGCVJ UGPVGPEGU YGTG KORQUGF KP <KODCDYG CNN HQT OWTFGT YKVJ KPVGPV
6JGTG KU CP CWVQOCVKE TKIJV QH CRRGCN VQ VJG 5WRTGOG %QWTV +P #WIWUV ,WUVKEG CPF .GICN
#HHCKTU &GRWV[ /KPKUVGT 1DGTV )WVW YCU SWQVGF CU UC[KPI p6JG 'ZGEWVKXG PQ NQPIGT JCU VJG
CRRGVKVG VQ GZGEWVG KPOCVGUe 6JGTG KU C FG HCEVQ OQTCVQTKWO QP GZGEWVKQPU CPF + FQPoV UGG
CP[ DGKPI EQPFWEVGF CP[ VKOG UQQPe 9JCV YKNN GXGPVWCNN[ JCRRGP VQ VJQUG QP FGCVJ TQY KU
VJCV VJGKT FGCVJ UGPVGPEGU YKNN DG EQOOWVGF VQ NKHG UGPVGPEGU 6JCV KU VJG VTGPF VJG YQTNF
QXGT q *QYGXGT KP 5GRVGODGT VJG IQXGTPOGPV CPPQWPEGF VJCV KV JCF HKNNGF VJG RQUKVKQP QH
VJG UVCVG GZGEWVKQPGT YJKEJ JCF DGGP XCECPV UKPEG
1P
,WN[ C UGEQPF FTCHV QH VJG PGY %QPUVKVWVKQP YCU TGNGCUGF EQPVCKPKPI TGUVTKEVKQPU QP
VJG FGCVJ RGPCNV[ DWV PQV HWNN CDQNKVKQP 5GEVKQP
KP VJG PGY FTCHV %QPUVKVWVKQP UVKNN
CNNQYGF VJG FGCVJ RGPCNV[ HQT OWTFGT pEQOOKVVGF KP CIITCXCVKPI EKTEWOUVCPEGU q DWV
GZGORVGF HTQO KVU CRRNKECVKQP CNN YQOGP OGP WPFGT
[GCTU CV VJG VKOG QH VJG EQOOKUUKQP
QH VJG ETKOG CPF VJQUG CIGF QXGT
+V CNUQ RTQJKDKVGF VJG KORQUKVKQP QH VJG FGCVJ RGPCNV[
CU C OCPFCVQT[ RWPKUJOGPV 9JKNG OWVKP[ CPF VTGCUQP YQWNF DG GZENWFGF WPFGT VJKU
RTQRQUCN #OPGUV[ +PVGTPCVKQPCN KU PQV CYCTG QH CP[ RTKUQPGTU QP FGCVJ TQY YJQ YGTG
EQPXKEVGF QH VJGUG ETKOGU 6JG RTCEVKECN KORCEV QH VJG RTQXKUKQPU WPFGT VJG EWTTGPV FTCHV
YQWNF PQV UKIPKHKECPVN[ TGFWEG VJG WUG QH VJG FGCVJ RGPCNV[ 2CTVKCN CDQNKVKQP YQWNF CNUQ DG KP
EQPVTCUV VQ VJG UWRRQTV KPFKECVGF D[ <KODCDYG KP /CTEJ HQT 724 TGEQOOGPFCVKQPU VQ VCMG
OGCUWTGU VQ CDQNKUJ VJG FGCVJ RGPCNV[ CPF VQ TCVKH[ VJG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG
+%%24 +V KU RNCPPGF VJCV VJG PGY %QPUVKVWVKQP YKNN DG RWV VQ C RQRWNCT TGHGTGPFWO KP
+P #RTKN VJG #HTKECP %QOOKUUKQP QP *WOCP CPF 2GQRNGUo 4KIJVU RWDNKUJGF C p5VWF[ QP VJG
SWGUVKQP QH VJG FGCVJ RGPCNV[ KP #HTKECq KP YJKEJ COQPI QVJGT VJKPIU KV TGEQOOGPFGF VJG
CFQRVKQP QH C p2TQVQEQN VQ VJG #HTKECP %JCTVGT QP *WOCP CPF 2GQRNGUo 4KIJVU QP VJG #DQNKVKQP
QH &GCVJ 2GPCNV[ WPFGT CP[ EKTEWOUVCPEGUq

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

#00': + &'#6* 5'06'0%'5 #0&
':'%76+105 +0
6JKU TGRQTV QPN[ EQXGTU VJG LWFKEKCN WUG QH VJG FGCVJ RGPCNV[ 6JG HKIWTGU RTGUGPVGF CTG VJG
NCTIGUV VJCV ECP UCHGN[ DG FTCYP HTQO #OPGUV[ +PVGTPCVKQPCNoU TGUGCTEJ CNVJQWIJ YG
GORJCUK\G VJCV VJG VTWG HKIWTGU KP TGNCVKQP VQ UQOG EQWPVTKGU CTG UKIPKHKECPVN[ JKIJGT 5QOG
UVCVGU KPVGPVKQPCNN[ EQPEGCN FGCVJ RGPCNV[ RTQEGGFKPIU QVJGTU FQ PQV MGGR QT OCMG CXCKNCDNG
UVCVKUVKEU QP VJG PWODGTU QH FGCVJ UGPVGPEGU CPF GZGEWVKQPU
9JGTG p q CRRGCTU CHVGT C HKIWTG PGZV VQ VJG PCOG QH C EQWPVT[ s HQT KPUVCPEG ;GOGP
s
KV OGCPU VJCV VJKU KU VJG OKPKOWO HKIWTG ECNEWNCVGF D[ #OPGUV[ +PVGTPCVKQPCN 9JGTG p q
CRRGCTU CHVGT C EQWPVT[ YKVJQWV C HKIWTG s HQT KPUVCPEG FGCVJ UGPVGPEGU KP #HIJCPKUVCP
s
KV OGCPU VJCV VJGTG YGTG GZGEWVKQPU QT FGCVJ UGPVGPEGU OQTG VJCP QPG KP VJCV EQWPVT[ DWV
DWV PQV UWHHKEKGPV KPHQTOCVKQP VQ RTQXKFG C TGRTGUGPVCVKXG HKIWTG 9JGP ECNEWNCVKPI INQDCN CPF
TGIKQPCN VQVCNU p q JCU DGGP EQWPVGF CU

4'2146'& ':'%76+105 +0
%JKPC

5QOCNKC
D[ VJG 6TCPUKVKQPCN
(GFGTCN )QXGTPOGPV
KP 2WPVNCPF

+TCP
+TCS

2CNGUVKPKCP #WVJQTKV[
CWVJQTKVKGU )C\C

5CWFK #TCDKC

6CKYCP

75#

5QWVJ 5WFCP

;GOGP

$GNCTWU

5WFCP

$QVUYCPC

#HIJCPKUVCP

$CPINCFGUJ

)CODKC

+PFKC

,CRCP

2CMKUVCP

0QTVJ -QTGC

7PKVGF #TCD 'OKTCVGU

+PFGZ #%6

*COCU

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

4'2146'& &'#6* 5'06'0%'5 +0
%JKPC

)JCPC

;GOGP

5KPICRQTG

2CMKUVCP

-GP[C

<CODKC

$CTDCFQU

5WFCP

7PKVGF #TCD
'OKTCVGU

6CKYCP

%JCF

/CWTKVCPKC

5QWVJ -QTGC

2CNGUVKPKCP
#WVJQTKV[
*COCU
CWVJQTKVKGU
)C\C
2#
9GUV $CPM

3CVCT

)CODKC

5YC\KNCPF

<KODCDYG

.KD[C

#HIJCPKUVCP

/CNK

6TKPKFCF CPF
6QDCIQ

.CQU

#NIGTKC
/[CPOCT
6JCKNCPF
,QTFCP
'I[RV
+PFQPGUKC
8KGV 0CO
+TCS

&GOQETCVKE
4GRWDNKE QH VJG
%QPIQ

$CJTCKP
'SWCVQTKCN
)WKPGC

+TCP
+PFKC
75#
5CWFK #TCDKC
5QOCNKC
D[ VJG
6TCPUKVKQPCN
(GFGTCN
)QXGTPOGPV
KP 2WPVNCPF
KP 5QOCNKNCPF
/CNC[UKC

0QTVJ -QTGC
-WYCKV

)W[CPC

.GDCPQP

.KDGTKC

6WPKUKC

,CRCP

/QTQEEQ
9GUVGTP 5CJCTC

6CP\CPKC

5QWVJ 5WFCP

)WKPGC

0KIGTKC
$CPINCFGUJ

/QPIQNKC
$QVUYCPC

5TK .CPMC

#OPGUV[ +PVGTPCVKQPCN #RTKN

/CNFKXGU

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

#00': ++ #$1.+6+10+56 #0&
4'6'06+10+56 %17064+'5 #5 1(
&'%'/$'4
/QTG VJCP VYQ VJKTFU QH VJG EQWPVTKGU KP VJG YQTNF JCXG PQY CDQNKUJGF VJG FGCVJ RGPCNV[ KP
NCY QT RTCEVKEG #U QH
&GEGODGT
VJG PWODGTU YGTG CU HQNNQYU
#DQNKVKQPKUV HQT CNN ETKOGU
#DQNKVKQPKUV HQT QTFKPCT[ ETKOGU QPN[
#DQNKVKQPKUV KP RTCEVKEG
6QVCN CDQNKVKQPKUV KP NCY QT RTCEVKEG
4GVGPVKQPKUV
6JG HQNNQYKPI CTG NKUVU QH EQWPVTKGU KP VJG HQWT ECVGIQTKGU CDQNKVKQPKUV HQT CNN ETKOGU
CDQNKVKQPKUV HQT QTFKPCT[ ETKOGU QPN[ CDQNKVKQPKUV KP RTCEVKEG CPF TGVGPVKQPKUV
#$1.+6+10+56 (14 #.. %4+/'5
%QWPVTKGU YJQUG NCYU FQ PQV RTQXKFG HQT VJG FGCVJ RGPCNV[ HQT CP[ ETKOG
#NDCPKC #PFQTTC #PIQNC #TIGPVKPC #TOGPKC #WUVTCNKC #WUVTKC #\GTDCKLCP $GNIKWO
$JWVCP $QUPKC *GT\GIQXKPC $WNICTKC $WTWPFK %CODQFKC %CPCFC %CRG 8GTFG %QNQODKC
%QQM +UNCPFU %QUVC 4KEC %QVG & +XQKTG %TQCVKC %[RTWU %\GEJ 4GRWDNKE &GPOCTM &LKDQWVK
&QOKPKECP 4GRWDNKE 'EWCFQT 'UVQPKC (KPNCPF (TCPEG )CDQP )GQTIKC )GTOCP[ )TGGEG
)WKPGC $KUUCW *CKVK *QN[ 5GG *QPFWTCU *WPICT[ +EGNCPF +TGNCPF +VCN[ -KTKDCVK
-[TI[\UVCP .CVXKC .KGEJVGPUVGKP .KVJWCPKC .WZGODQWTI /CEGFQPKC /CNVC /CTUJCNN
+UNCPFU /CWTKVKWU /GZKEQ /KETQPGUKC /QNFQXC /QPCEQ /QPVGPGITQ /Q\CODKSWG
0COKDKC 0GRCN 0GVJGTNCPFU 0GY <GCNCPF 0KECTCIWC 0KWG 0QTYC[ 2CNCW 2CPCOC
2CTCIWC[ 2JKNKRRKPGU 2QNCPF 2QTVWICN 4QOCPKC 4YCPFC 5COQC 5CP /CTKPQ 5CQ 6QOG
#PF 2TKPEKRG 5GPGICN 5GTDKC KPENWFKPI -QUQXQ 5G[EJGNNGU 5NQXCMKC 5NQXGPKC 5QNQOQP
+UNCPFU 5QWVJ #HTKEC 5RCKP 5YGFGP 5YKV\GTNCPF 6KOQT .GUVG 6QIQ 6WTMG[ 6WTMOGPKUVCP
6WXCNW 7MTCKPG 7PKVGF -KPIFQO 7TWIWC[ 7\DGMKUVCP 8CPWCVW 8GPG\WGNC

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

#$1.+6+10+56 (14 14&+0#4; %4+/'5 10.;
%QWPVTKGU YJQUG NCYU RTQXKFG HQT VJG FGCVJ RGPCNV[ QPN[ HQT GZEGRVKQPCN ETKOGU UWEJ CU
ETKOGU WPFGT OKNKVCT[ NCY QT ETKOGU EQOOKVVGF KP GZEGRVKQPCN EKTEWOUVCPEGU
$QNKXKC $TC\KN %JKNG 'N 5CNXCFQT (KLK +UTCGN -C\CMUVCP 2GTW

#$1.+6+10+56 +0 24#%6+%'
%QWPVTKGU YJKEJ TGVCKP VJG FGCVJ RGPCNV[ HQT QTFKPCT[ ETKOGU UWEJ CU OWTFGT DWV ECP DG
EQPUKFGTGF CDQNKVKQPKUV KP RTCEVKEG KP VJCV VJG[ JCXG PQV GZGEWVGF CP[QPG FWTKPI VJG RCUV
[GCTU CPF CTG DGNKGXGF VQ JCXG C RQNKE[ QT GUVCDNKUJGF RTCEVKEG QH PQV ECTT[KPI QWV GZGEWVKQPU
#NIGTKC $GPKP $TWPGK &CTWUUCNCO $WTMKPC (CUQ %COGTQQP %GPVTCN #HTKECP 4GRWDNKE %QPIQ
4GRWDNKE QH 'TKVTGC )JCPC )TGPCFC -GP[C .CQU .KDGTKC /CFCICUECT /CNCYK /CNFKXGU
/CNK /CWTKVCPKC /QPIQNKC /QTQEEQ /[CPOCT 0CWTW 0KIGT 2CRWC 0GY )WKPGC 4WUUKCP
(GFGTCVKQP 5KGTTC .GQPG 5QWVJ -QTGC 5TK .CPMC 5WTKPCOG 5YC\KNCPF 6CLKMKUVCP
6CP\CPKC 6QPIC 6WPKUKC <CODKC

4'6'06+10+56
%QWPVTKGU VJCV TGVCKP VJG FGCVJ RGPCNV[ HQT QTFKPCT[ ETKOGU
#HIJCPKUVCP #PVKIWC CPF $CTDWFC $CJCOCU $CJTCKP $CPINCFGUJ $CTDCFQU $GNCTWU
$GNK\G $QVUYCPC %JCF %JKPC %QOQTQU &GOQETCVKE 4GRWDNKE QH VJG %QPIQ %WDC
&QOKPKEC 'I[RV 'SWCVQTKCN )WKPGC 'VJKQRKC )CODKC )WCVGOCNC )WKPGC )W[CPC +PFKC
+PFQPGUKC +TCP +TCS ,COCKEC ,CRCP ,QTFCP -WYCKV .GDCPQP .GUQVJQ .KD[C /CNC[UKC
0KIGTKC 0QTVJ -QTGC 1OCP 2CMKUVCP 2CNGUVKPKCP #WVJQTKV[ 3CVCT 5CKPV -KVVU CPF 0GXKU
5CKPV .WEKC 5CKPV 8KPEGPV CPF VJG )TGPCFKPGU 5CWFK #TCDKC 5KPICRQTG 5QOCNKC 5QWVJ
5WFCP 5WFCP 5[TKC 6CKYCP 6JCKNCPF 6TKPKFCF #PF 6QDCIQ 7ICPFC 7PKVGF #TCD
'OKTCVGU 7PKVGF 5VCVGU 1H #OGTKEC 8KGV 0CO ;GOGP <KODCDYG

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

#00': +++ 4#6+(+%#6+10 1(
+06'40#6+10#. 64'#6+'5 #5 1(
&'%'/$'4
6JG EQOOWPKV[ QH PCVKQPU JCU CFQRVGF HQWT KPVGTPCVKQPCN VTGCVKGU RTQXKFKPI HQT VJG CDQNKVKQP
QH VJG FGCVJ RGPCNV[ 1PG KU QH YQTNFYKFG UEQRG VJG QVJGT VJTGG CTG TGIKQPCN
$GNQY CTG UJQTV FGUETKRVKQPU QH VJG HQWT VTGCVKGU CPF NKUVU QH UVCVGU RCTVKGU CPF EQWPVTKGU
YJKEJ JCXG UKIPGF DWV PQV TCVKHKGF VJG VTGCVKGU CU QH
&GEGODGT
5VCVGU OC[
DGEQOG RCTVKGU VQ KPVGTPCVKQPCN VTGCVKGU GKVJGT D[ CEEGFKPI VQ VJGO QT D[ TCVKH[KPI VJGO
5KIPCVWTG KPFKECVGU CP KPVGPVKQP VQ DGEQOG C RCTV[ CV C NCVGT FCVG VJTQWIJ TCVKHKECVKQP 5VCVGU
CTG DQWPF WPFGT KPVGTPCVKQPCN NCY VQ TGURGEV VJG RTQXKUKQPU QH VTGCVKGU VQ YJKEJ VJG[ CTG
RCTVKGU CPF VQ FQ PQVJKPI VQ FGHGCV VJG QDLGEV CPF RWTRQUG QH VTGCVKGU YJKEJ VJG[ JCXG
UKIPGF
5'%10& 126+10#. 24161%1. 61 6*' +06'40#6+10#. %18'0#06 10 %+8+. #0&
21.+6+%#. 4+)*65
6JG 5GEQPF 1RVKQPCN 2TQVQEQN VQ VJG +PVGTPCVKQPCN %QXGPCPV QP %KXKN CPF 2QNKVKECN 4KIJVU
CKOKPI CV VJG CDQNKVKQP QH VJG FGCVJ RGPCNV[ CFQRVGF D[ VJG 70 )GPGTCN #UUGODN[ KP
KU QH YQTNFYKFG UEQRG +V RTQXKFGU HQT VJG VQVCN CDQNKVKQP QH VJG FGCVJ RGPCNV[ DWV CNNQYU UVCVGU
RCTVKGU VQ TGVCKP VJG FGCVJ RGPCNV[ KP VKOG QH YCT KH VJG[ OCMG C TGUGTXCVKQP VQ VJCV GHHGEV CV
VJG VKOG QH TCVKH[KPI QT CEEGFKPI VQ VJG 2TQVQEQN #P[ UVCVG YJKEJ KU C RCTV[ VQ VJG
+PVGTPCVKQPCN %QXGPCPV QP %KXKN CPF 2QNKVKECN 4KIJVU ECP DGEQOG C RCTV[ VQ VJG 2TQVQEQN
5VCVGU RCTVKGU #NDCPKC #PFQTTC #TIGPVKPC #WUVTCNKC #WUVTKC #\GTDCKLCP $GNIKWO $GPKP
$QUPKC CPF *GT\GIQXKPC $TC\KN $WNICTKC %CPCFC %CRG 8GTFG %JKNG %QNQODKC %QUVC 4KEC
%TQCVKC %[RTWU %\GEJ 4GRWDNKE &GPOCTM &LKDQWVK 'EWCFQT 'UVQPKC (KPNCPF (TCPEG
)GQTIKC )GTOCP[ )TGGEG *QPFWTCU *WPICT[ +EGNCPF +TGNCPF +VCN[ -[TI[\UVCP .KDGTKC
.KGEJVGPUVGKP .KVJWCPKC .WZGODQWTI /CEGFQPKC /CNVC /GZKEQ /QNFQXC /QPCEQ
/QPIQNKC /QPVGPGITQ /Q\CODKSWG 0COKDKC 0GRCN 0GVJGTNCPFU 0GY <GCNCPF 0KECTCIWC
0QTYC[ 2CPCOC 2CTCIWC[ 2JKNKRRKPGU 2QTVWICN 4QOCPKC 4YCPFC 5CP /CTKPQ 5GTDKC
5G[EJGNNGU 5NQXCMKC 5NQXGPKC 5QWVJ #HTKEC 5RCKP 5YGFGP 5YKV\GTNCPF 6KOQT .GUVG
6WTMG[ 6WTMOGPKUVCP 7MTCKPG 7PKVGF -KPIFQO 7TWIWC[ 7\DGMKUVCP 8GPG\WGNC VQVCN
5KIPGF DWV PQV TCVKHKGF )WKPGC $KUUCW 2QNCPF 5CQ 6QOÅ CPF 2TKPEKRG VQVCN

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

24161%1. 61 6*' #/'4+%#0 %108'06+10 10 *7/#0 4+)*65 10 6*' #$1.+6+10 1(
6*' &'#6* 2'0#.6;
6JG 2TQVQEQN VQ VJG #OGTKECP %QPXGPVKQP QP *WOCP 4KIJVU VQ #DQNKUJ VJG &GCVJ 2GPCNV[
CFQRVGF D[ VJG )GPGTCN #UUGODN[ QH VJG 1TICPK\CVKQP QH #OGTKECP 5VCVGU KP
RTQXKFGU
HQT VJG VQVCN CDQNKVKQP QH VJG FGCVJ RGPCNV[ DWV CNNQYU UVCVGU RCTVKGU VQ TGVCKP VJG FGCVJ
RGPCNV[ KP YCTVKOG KH VJG[ OCMG C TGUGTXCVKQP VQ VJCV GHHGEV CV VJG VKOG QH TCVKH[KPI QT
CEEGFKPI VQ VJG 2TQVQEQN #P[ UVCVG RCTV[ VQ VJG #OGTKECP %QPXGPVKQP QP *WOCP 4KIJVU ECP
DGEQOG C RCTV[ VQ VJG 2TQVQEQN
5VCVGU RCTVKGU #TIGPVKPC $TC\KN %JKNG %QUVC 4KEC &QOKPKECP 4GRWDNKE 'EWCFQT *QPFWTCU
/GZKEQ 0KECTCIWC 2CPCOC 2CTCIWC[ 7TWIWC[ 8GPG\WGNC VQVCN
24161%1. 01

61 6*' '7412'#0 %108'06+10 10 *7/#0 4+)*65

2TQVQEQN 0Q
VQ VJG 'WTQRGCP %QPXGPVKQP HQT VJG 2TQVGEVKQP QH *WOCP 4KIJVU CPF
(WPFCOGPVCN (TGGFQOU = 'WTQRGCP %QPXGPVKQP QP *WOCP 4KIJVU ? EQPEGTPKPI VJG CDQNKVKQP
QH VJG FGCVJ RGPCNV[ CFQRVGF D[ VJG %QWPEKN QH 'WTQRG KP
RTQXKFGU HQT VJG CDQNKVKQP QH
VJG FGCVJ RGPCNV[ KP RGCEGVKOG UVCVGU RCTVKGU OC[ TGVCKP VJG FGCVJ RGPCNV[ HQT ETKOGU KP
VKOG QH YCT QT QH KOOKPGPV VJTGCV QH YCT #P[ UVCVG RCTV[ VQ VJG 'WTQRGCP %QPXGPVKQP QP
*WOCP 4KIJVU ECP DGEQOG C RCTV[ VQ VJG 2TQVQEQN
5VCVGU RCTVKGU #NDCPKC #PFQTTC #TOGPKC #WUVTKC #\GTDCKLCP $GNIKWO $QUPKC CPF
*GT\GIQXKPC $WNICTKC %TQCVKC %[RTWU %\GEJ 4GRWDNKE &GPOCTM 'UVQPKC (KPNCPF (TCPEG
)GQTIKC )GTOCP[ )TGGEG *WPICT[ +EGNCPF +TGNCPF +VCN[ .CVXKC .KGEJVGPUVGKP .KVJWCPKC
.WZGODQWTI /CEGFQPKC /CNVC /QNFQXC /QPCEQ /QPVGPGITQ 0GVJGTNCPFU 0QTYC[
2QNCPF 2QTVWICN 4QOCPKC 5CP /CTKPQ 5GTDKC 5NQXCMKC 5NQXGPKC 5RCKP 5YGFGP
5YKV\GTNCPF 6WTMG[ 7MTCKPG 7PKVGF -KPIFQO VQVCN
5KIPGF DWV PQV TCVKHKGF 4WUUKCP (GFGTCVKQP VQVCN
24161%1. 01

61 6*' '7412'#0 %108'06+10 10 *7/#0 4+)*65

2TQVQEQN 0Q
VQ VJG %QPXGPVKQP HQT VJG 2TQVGEVKQP QH *WOCP 4KIJVU CPF (WPFCOGPVCN
(TGGFQOU ='WTQRGCP %QPXGPVKQP QP *WOCP 4KIJVU? EQPEGTPKPI VJG CDQNKVKQP QH VJG FGCVJ
RGPCNV[ KP CNN EKTEWOUVCPEGU CFQRVGF D[ VJG %QWPEKN QH 'WTQRG KP
RTQXKFGU HQT VJG
CDQNKVKQP QH VJG FGCVJ RGPCNV[ KP CNN EKTEWOUVCPEGU KPENWFKPI VKOG QH YCT QT QH KOOKPGPV
VJTGCV QH YCT #P[ UVCVG RCTV[ VQ VJG 'WTQRGCP %QPXGPVKQP QP *WOCP 4KIJVU ECP DGEQOG C
RCTV[ VQ VJG 2TQVQEQN
5VCVGU RCTVKGU #NDCPKC #PFQTTC #WUVTKC $GNIKWO $QUPKC *GT\GIQXKPC $WNICTKC %TQCVKC
%[RTWU %\GEJ 4GRWDNKE &GPOCTM 'UVQPKC (KPNCPF (TCPEG )GQTIKC )GTOCP[ )TGGEG
*WPICT[ +EGNCPF +TGNCPF +VCN[ .CVXKC .KGEJVGPUVGKP .KVJWCPKC .WZGODQWTI /CEGFQPKC
/CNVC /QNFQXC /QPCEQ /QPVGPGITQ 0GVJGTNCPFU 0QTYC[ 2QTVWICN 4QOCPKC 5CP /CTKPQ
5GTDKC 5NQXCMKC 5NQXGPKC 5RCKP 5YGFGP 5YKV\GTNCPF 6WTMG[ 7MTCKPG 7PKVGF -KPIFQO
VQVCN
5KIPGF DWV PQV TCVKHKGF #TOGPKC 2QNCPF VQVCN

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

#00': +8 816+0) 4'57.65 1( 70
)'0'4#. #55'/$.; 4'51.76+10
#&126'& 10 &'%'/$'4

%Q URQPUQTU QH 70 )GPGTCN #UUGODN[ TGUQNWVKQP

CFQRVGF QP

&GEGODGT

#NDCPKC #NIGTKC #PFQTTC #PIQNC #TIGPVKPC #TOGPKC #WUVTCNKC #WUVTKC $GNIKWO $GPKP
$QNKXKC $QUPKC CPF *GT\GIQXKPC $TC\KN $WNICTKC $WTWPFK %CODQFKC %CRG 8GTFG %JKNG
%QNQODKC %QPIQ %QUVC 4KEC %ÐVG Fo+XQKTG %TQCVKC %[RTWU %\GEJ 4GRWDNKE &GPOCTM
&QOKPKECP 4GRWDNKE 'EWCFQT 'UVQPKC (KPNCPF (TCPEG )CDQP )GQTIKC )GTOCP[ )TGGEG
)WKPGC $KUUCW *CKVK *QPFWTCU *WPICT[ +EGNCPF +TGNCPF +UTCGN +VCN[ -[TI[\UVCP .CVXKC
.KGEJVGPUVGKP .KVJWCPKC .WZGODQWTI /CEGFQPKC /CFCICUECT /CNK /CNVC /CTUJCNN
+UNCPFU /GZKEQ /KETQPGUKC /QNFQXC /QPCEQ /QPIQNKC /QPVGPGITQ /Q\CODKSWG
0GVJGTNCPFU 0GY <GCNCPF 0QTYC[ 2CNCW 2CPCOC 2CTCIWC[ 2JKNKRRKPGU 2QNCPF 2QTVWICN
4QOCPKC 4WUUKCP (GFGTCVKQP 4YCPFC 5COQC 5CP /CTKPQ 5CQ 6QOG CPF 2TKPEKRG 5GTDKC
5NQXCMKC 5NQXGPKC 5QOCNKC 5QWVJ #HTKEC 5RCKP 5YGFGP 5YKV\GTNCPF 6KOQT .GUVG 6WTMG[
6WXCNW 7MTCKPG 7PKVGF -KPIFQO QH )TGCV $TKVCKP CPF 0QTVJGTP +TGNCPF 7TWIWC[ 8CPWCVW
8GPG\WGNC VQVCN
8QVGU KP HCXQWT
#NDCPKC #NIGTKC #PFQTTC #PIQNC #TIGPVKPC #TOGPKC #WUVTCNKC #WUVTKC #\GTDCKLCP
$GNIKWO $GPKP $JWVCP $QNKXKC $QUPKC CPF *GT\GIQXKPC $TC\KN $WNICTKC $WTMKPC (CUQ
$WTWPFK %CODQFKC %CPCFC %CRG 8GTFG %GPVTCN #HTKECP 4GRWDNKE %JCF %JKNG %QNQODKC
%QPIQ 4GRWDNKE QH %QUVC 4KEC %QVG Fo+XQKTG %TQCVKC %[RTWU %\GEJ 4GRWDNKE &GPOCTM
&QOKPKECP 4GRWDNKE 'EWCFQT 'N 5CNXCFQT 'UVQPKC (KPNCPF (TCPEG )CDQP )GQTIKC
)GTOCP[ )TGGEG )WCVGOCNC )WKPGC $KUUCW *CKVK *QPFWTCU *WPICT[ +EGNCPF +TGNCPF
+UTCGN +VCN[ -C\CMJUVCP -KTKDCVK -[TI[\UVCP .CVXKC .KGEJVGPUVGKP .KVJWCPKC .WZGODQWTI
/CEGFQPKC /CFCICUECT /CNK /CNVC /CTUJCNN +UNCPFU /GZKEQ /KETQPGUKC /QNFQXC
/QPCEQ /QPIQNKC /QPVGPGITQ /Q\CODKSWG 0CWTW 0GRCN 0GVJGTNCPFU 0GY <GCNCPF
0KECTCIWC 0QTYC[ 2CNCW 2CPCOC 2CTCIWC[ 2GTW 2JKNKRRKPGU 2QNCPF 2QTVWICN 4QOCPKC
4WUUKCP (GFGTCVKQP 4YCPFC 5COQC 5CP /CTKPQ 5GTDKC 5G[EJGNNGU 5KGTTC .GQPG 5NQXCMKC
5NQXGPKC 5QOCNKC 5QWVJ #HTKEC 5QWVJ 5WFCP 5RCKP 5YGFGP 5YKV\GTNCPF 6CLKMKUVCP
6KOQT .GUVG 6QIQ 6WPKUKC 6WTMG[ 6WTMOGPKUVCP 6WXCNW 7MTCKPG 7PKVGF -KPIFQO
7TWIWC[ 7\DGMKUVCP 8CPWCVW 8GPG\WGNC VQVCN

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

8QVGU CICKPUV
#HIJCPKUVCP $CJCOCU $CJTCKP $CPINCFGUJ $CTDCFQU $GNK\G $QVUYCPC $TWPGK
&CTWUUCNCO %JKPC &QOKPKEC 'I[RV 'VJKQRKC )TGPCFC )W[CPC +PFKC +TCP +TCS ,COCKEC
,CRCP -WYCKV .KD[C /CNC[UKC /[CPOCT 0QTVJ -QTGC 1OCP 2CMKUVCP 3CVCT 5CKPV -KVVU
CPF 0GXKU 5CKPV .WEKC 5CKPV 8KPEGPV CPF )TGPCFKPGU 5CWFK #TCDKC 5KPICRQTG 5WFCP
5YC\KNCPF 5[TKC 6QPIC 6TKPKFCF CPF 6QDCIQ 7ICPFC 7PKVGF 5VCVGU QH #OGTKEC ;GOGP
<KODCDYG VQVCN
#DUVGPVKQPU
$GNCTWU %COGTQQP %QOQTQU %WDC &GOQETCVKE 4GRWDNKE QH %QPIQ &LKDQWVK 'TKVTGC (KLK
)WKPGC +PFQPGUKC ,QTFCP -GP[C .CQU .GDCPQP .GUQVJQ .KDGTKC /CNCYK /CNFKXGU
/CWTKVCPKC /QTQEEQ 9GUVGTP 5CJCTC 0COKDKC 0KIGT 0KIGTKC 2CRWC 0GY )WKPGC 5GPGICN
5QNQOQP +UNCPFU 5QWVJ -QTGC 5TK .CPMC 5WTKPCOG 6CP\CPKC 6JCKNCPF 8KGV 0CO 7PKVGF
#TCD 'OKTCVGU <CODKC VQVCN
0QV RTGUGPV
#PVKIWC CPF $CTDWFC 'SWCVQTKCN )WKPGC )CODKC )JCPC -KTKDCVK /CWTKVKWU 5CQ 6QOG CPF
2TKPEKRG VQVCN

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

'0&016'5
0CVKQPCN 4GUGCTEJ %QWPEKN p&GVGTTGPEG CPF VJG &GCVJ 2GPCNV[q &CPKGN 5 0CIKP CPF ,QJP 8 2GRRGT
GFU 6JG 0CVKQPCN #ECFGOKGU 2TGUU
R
%JCTNGU / *CTTKU p9J[ (NQTKFC UJQWNF CDQNKUJ VJG FGCVJ RGPCNV[ q
JVVR YYY ICKPGUXKNNG EQO CTVKENG
12+0+10
!R

VERI CEEGUUGF

/CTEJ

#OPGUV[ +PVGTPCVKQPCN ECPPQV GZENWFG VJCV HWTVJGT GZGEWVKQPU VQQM RNCEG KP QVJGT EQWPVTKGU CPF VJCV
FGETGCUGU [GCT QP [GCT CTG RCTVKCNN[ CVVTKDWVCDNG VQ C NCEM QH EQORNGVG KPHQTOCVKQP
5[TKC JCU JCF KVU OGODGTUJKR UWURGPFGF DGECWUG QH VJG XKQNGPEG WUGF VQ UWRRTGUU WRTKUKPIU &GURKVG
UQOG NKOKVGF TGRQTVU QP LWFKEKCN GZGEWVKQPU CPF FGCVJ UGPVGPEGU KORQUGF #OPGUV[ +PVGTPCVKQPCN EQWNF
PQV EQPHKTO CP[ KPHQTOCVKQP QP VJG WUG QH VJG FGCVJ RGPCNV[ KP 5[TKC KP
'ZQPGTCVKQP KU VJG RTQEGUU YJGTG CHVGT UGPVGPEKPI CPF VJG EQPENWUKQP QH VJG CRRGCNU RTQEGUU VJG
EQPXKEVGF KU NCVGT HTGGF HTQO DNCOG QT CESWKVVGF QH VJG ETKOKPCN EJCTIG CPF VJGTGHQTG KU TGICTFGF CU
KPPQEGPV KP VJG G[GU QH VJG NCY
5JQTVN[ CHVGT VJG RWDNKECVKQP QH &GCVJ UGPVGPEGU CPF GZGEWVKQPU KP
+PFGZ #%6
YJKEJ UVCVGF VJCV
EQWPVTKGU JCF ECTTKGF QWV GZGEWVKQPU KP
#OPGUV[ +PVGTPCVKQPCN HQWPF VJCV
HQWT GZGEWVKQPU JCF DGGP ECTTKGF QWV KP 5KPICRQTG DTKPIKPI VJG PWODGT QH GZGEWVKPI EQWPVTKGU KP
VQ
6JG VGTO p2CNGUVKPKCP #WVJQTKV[q KU WUGF VQ TGHGT VQ VJG CTGCU WPFGT VJG LWTKUFKEVKQP QH VJG 2CNGUVKPKCP
#WVJQTKV[ KPENWFKPI RCTVU QH VJG QEEWRKGF 9GUV $CPM CPF VJG )C\C 5VTKR IQXGTPGF D[ VJG *COCU FG
HCEVQ CFOKPKUVTCVKQP UKPEG ,WPG
7PNCYHWN MKNNKPIU VJTQWIJ UVQPKPI D[ CTOGF QRRQUKVKQP ITQWRU YGTG TGRQTVGF HTQO #HIJCPKUVCP PQTVJGTP
/CNK 2CMKUVCP CPF 5QOCNKC
)QXGTPOGPVU UJQWNF CRRN[ C HWNN TCPIG QH CRRTQRTKCVG ETKVGTKC KP ECUGU YJGTG CIG KU KP FKURWVG )QQF
RTCEVKEG KP CUUGUUKPI CIG KPENWFGU FTCYKPI QP MPQYNGFIG QH RJ[UKECN RU[EJQNQIKECN CPF UQEKCN
FGXGNQROGPV 'CEJ QH VJGUG ETKVGTKC UJQWNF DG CRRNKGF KP C YC[ VJCV IKXGU VJG DGPGHKV QH FQWDV KP
FKURWVGF ECUGU UQ VJCV VJG KPFKXKFWCN KU VTGCVGF CU C LWXGPKNG QHHGPFGT CPF CEEQTFKPIN[ UJQWNF GPUWTG VJCV
VJG FGCVJ RGPCNV[ KU PQV CRRNKGF 5WEJ CP CRRTQCEJ KU EQPUKUVGPV YKVJ VJG RTKPEKRNG VJCV VJG DGUV KPVGTGUVU
QH VJG EJKNF UJCNN DG C RTKOCT[ EQPUKFGTCVKQP KP CNN CEVKQPU EQPEGTPKPI EJKNFTGP CU TGSWKTGF D[ #TVKENG
QH VJG %QPXGPVKQP QP VJG 4KIJVU QH VJG %JKNF
*WOCP 4KIJVU %QWPEKN TGUQNWVKQP
FQEWOGPV # *4% 4'5

p4KIJVU QH VJG %JKNFq CFQRVGF QP

#RTKN

70

5KPEG %WDC UVQRRGF GZGEWVKPI KP
CPF YKVJ VJG GZEGRVKQP QH QPG GZGEWVKQP KP 5CKPV -KVVU CPF
0GXKU KP
VJG 75# JCU DGGP VJG QPN[ EQWPVT[ ECTT[KPI QWV GZGEWVKQPU KP VJG TGIKQP 6JG PWODGT QH
FGCVJ UGPVGPEGU KP VJG TGIKQP JCU CNUQ DGGP FGETGCUKPI KP VJG RCUV HKXG [GCTU HTQO CV NGCUV
KP
VQ
KP
p6JG &GCVJ 2GPCNV[ KP
;GCT 'PF 4GRQTV &GEGODGT
q &GCVJ 2GPCNV[ +PHQTOCVKQP %GPVGT
JVVR FGCVJRGPCNV[KPHQ QTI FQEWOGPVU
;GCT'PF RFH CEEGUUGF /CTEJ

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

p70 TKIJVU EJKGH WTIGU $CTDCFQU VQ CFFTGUU FQOGUVKE XKQNGPEG CPF FKUETKOKPCVKQPq 70 0GYU %GPVTG
#RTKN
JVVR YYY WP QTI CRRU PGYU UVQT[ CUR!0GYU+&
736 T596(+ CEEGUUGF
/CTEJ
%QPENWFKPI QDUGTXCVKQPU QH VJG *WOCP 4KIJVU %QOOKVVGG )WCVGOCNC 70 FQEWOGPV
%%24 % )6/ %1
#RTKN
+PHQTOCVKQP TGEGKXGF D[ #OPGUV[ +PVGTPCVKQPCN KPFKECVGF VJCV QPG RGTUQP YCU WPFGT UGPVGPEG QH FGCVJ
CV VJG GPF QH
p&GCVJ TQY KPOCVGU QP JWPIGT UVTKMG QXGT DTGCF CPF DWVVGT FKGVq )W[CPC 0GYU
#WIWUV
JVVR YYY IW[CPCPGYU EQ
FGCVJ TQY KPOCVGU QP JWPIGT UVTKMG QXGT DTGCF CPF DWVVGT FKGV
CEEGUUGF /CTEJ
)CPIC &GQNCNN CPF HKXG QVJGTUo FGCVJ UGPVGPEGU YGTG EQOOWVGF VQ NKHG
KORTKUQPOGPV D[ CEVKPI %JKGH ,WUVKEG +CP %JCPI QP
,CPWCT[
2CTNKCOGPV QH )W[CPC 0QVKEG 2CRGT 0Q

/

)QXV

RWDNKUJGF QP

,WN[

p.CY UEJQQN TCKUGU EQPEGTPU QXGT %QOOKVVCN 2TQEGGFKPIU $KNNq ,COCKEC 1DUGTXGT
1EVQDGT
JVVR YYY LCOCKECQDUGTXGT EQO PGYU .CY UEJQQN TCKUGU EQPEGTPU QXGT %QOOKVVCN 2TQEGGFKPIU
$KNNA
CEEGUUGF /CTEJ
'CUVGTP %CTKDDGCP %QWTV QH #RRGCN #RRGCN *%4#2

FGNKXGTGF QP

/CTEJ

6JG 'CUVGTP %CTKDDGCP 5WRTGOG %QWTV KU VJG UWRGTKQT EQWTV QH TGEQTF HQT VJG /GODGT 5VCVGU QH VJG
1TICPKUCVKQP QH 'CUVGTP %CTKDDGCP 5VCVGU
2TKX[ %QWPEKN CRRGCN 0Q
(GDTWCT[

QH

0KIGN $TQYP X VJG 5VCVG =

? 7-2%

2TKX[ %QWPEKN CRRGCN 0Q
QP
/C[

QH

/CTEWU ,CUQP &CPKGN X VJG 5VCVG =

FGNKXGTGF QP

? 7-2%

FGNKXGTGF

2TKX[ %QWPEKN CRRGCN 0Q
QH
&GGPKUJ $GPLCOKP CPF &GQEJCP )CPIC X VJG 5VCVG =
7-2%
FGNKXGTGF QP
/CTEJ
2TKX[ %QWPEKN CRRGCN 0Q
QH
6CKVV X VJG 5VCVG
=
? 7-2%
FGNKXGTGF QP 0QXGODGT

?

&GCVJ 2GPCNV[ +PHQTOCVKQP %GPVGT JVVR YYY FGCVJRGPCNV[KPHQ QTI KPPQEGPEG NKUV VJQUG HTGGF FGCVJ
TQY CEEGUUGF /CTEJ
5GG #OPGUV[ +PVGTPCVKQPCN 75# #PQVJGT DTKEM HTQO VJG YCNN %QPPGEVKEWV CDQNKUJGU FGCVJ RGPCNV[
CPF 0QTVJ %CTQNKPC LWFIG KUUWGU NCPFOCTM TCEG TWNKPI CU OQOGPVWO CICKPUV ECRKVCN RWPKUJOGPV
EQPVKPWGU +PFGZ #/4
#RTKN
JVVR YYY COPGUV[ QTI GP NKDTCT[ KPHQ #/4
GP CEEGUUGF /CTEJ
5GG #OPGUV[ +PVGTPCVKQPCN 75# 5GPUGNGUU MKNNKPI CHVGT UGPUGNGUU MKNNKPI 6GZCU KPOCVG YKVJ OGPVCN
FKUCDKNKV[ ENCKO HCEKPI GZGEWVKQP HQT OWTFGT EQOOKVVGF CU VGGPCIGT ,WPG
JVVR YYY COPGUV[ QTI HT NKDTCT[ KPHQ #/4
GP CEEGUUGF /CTEJ
5GG #OPGUV[ +PVGTPCVKQPCN 75# #PQVJGT DTKEM HTQO VJG YCNN %QPPGEVKEWV CDQNKUJGU FGCVJ RGPCNV[
CPF 0QTVJ %CTQNKPC LWFIG KUUWGU NCPFOCTM TCEG TWNKPI CU OQOGPVWO CICKPUV ECRKVCN RWPKUJOGPV
EQPVKPWGU +PFGZ #/4
#RTKN
JVVR YYY COPGUV[ QTI GP NKDTCT[ KPHQ #/4
GP CPF 75# ,WFIG HKPFU TCEKUO KP VJTGG OQTG
FGCVJ RGPCNV[ ECUGU &GCVJ UGPVGPEGU QXGTVWTPGF WPFGT 0QTVJ %CTQNKPCoU 4CEKCN ,WUVKEG #EV

#OPGUV[ +PVGTPCVKQPCN #RTKN

+PFGZ #%6

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

&GEGODGT

JVVR YYY COPGUV[ QTI GP NKDTCT[ KPHQ #/4

GP DQVJ CEEGUUGF

/CTEJ

0GY ,GTUG[ CDQNKUJGF VJG FGCVJ RGPCNV[ KP
0GY /GZKEQ KP
+NNKPQKU KP
6JG FGCVJ
RGPCNV[ YCU FGGOGF WPEQPUVKVWVKQPCN KP VJG UVCVG QH 0GY ;QTM KP
CPF VJG NGIKUNCVWTG JCU PQV
GPCEVGF C PGY ECRKVCN NCY UKPEG KP
KVU NCUV FGCVJ UGPVGPEG YCU EQOOWVGF
0CVKQPCN 4GUGCTEJ %QWPEKN p&GVGTTGPEG CPF VJG &GCVJ 2GPCNV[q R
6JG +PVGT #OGTKECP %QOOKUUKQP QP *WOCP 4KIJVU p6JG FGCVJ RGPCNV[ KP VJG +PVGT #OGTKECP JWOCP
TKIJVU U[UVGO (TQO TGUVTKEVKQPU VQ CDQNKVKQPq 1'# 5GT . 8 ++ &QE
&GEGODGT
8KGV 0CO YCU WPCDNG VQ QDVCKP VJG UWDUVCPEGU WUGF KP NGVJCN KPLGEVKQP RTQEGFWTGU FWG VQ C DCP QP
GZRQTVU HQT VJCV RWTRQUG D[ VJG '7
p FGCVJ RGPCNVKGU YTQPIN[ KORQUGF 'Z LWFIGU VQ 2TGUKFGPVq 6KOGU QH +PFKC
#WIWUV
JVVR CTVKENGU VKOGUQHKPFKC KPFKCVKOGU EQO
KPFKC
A AUE LWFIG FGCVJ RGPCNV[ UE
CPF JEU CEEGUUGF /CTEJ
5CPIGGV

#04 X 5VCVG QH *CT[CPC %TKOKPCN #RRGCN 0QU

QH

*WOCP 4KIJVU %QOOKVVGG %QPUKFGTCVKQP QH TGRQTVU UWDOKVVGF D[ 5VCVGU RCTVKGU WPFGT CTVKENG
QH VJG
%QXGPCPV %QPENWFKPI QDUGTXCVKQPU CFQRVGF D[ VJG *WOCP 4KIJVU %QOOKVVGG CV KVU
VJ UGUUKQP
,WN[
/CNFKXGU 70 FQEWOGPV %%24 % /&8 %1
#WIWUV
p0)1 TGSWGUVU JKIJGT LWFKEKCT[ VQ RTQDG $CNQEJKUVCP LWXGPKNG FGCVJ UGPVGPEGUq 6JG 6TKDWPG
1EVQDGT
JVVR VTKDWPG EQO RM UVQT[
PIQ TGSWGUVU JKIJGT LWFKEKCT[ VQ RTQDG
DCNQEJKUVCP LWXGPKNG FGCVJ UGPVGPEGU CEEGUUGF /CTEJ
6JG RTQRQUCN VQ KPVTQFWEG VJG DKNN YCU YKVJFTCYP KP
1P
/CTEJ
#OPGUV[ +PVGTPCVKQPCN RWDNKUJGF KVU CPPWCN INQDCN HKIWTGU QP VJG WUG QH VJG FGCVJ
RGPCNV[ PQVKPI PQ EQPHKTOGF TGRQTVU QH GZGEWVKQPU KP 5KPICRQTG HQT
#HVGT RWDNKECVKQP JQYGXGT
#OPGUV[ +PVGTPCVKQPCN NGCTPGF VJCV 5KPICRQTG CWVJQTKVKGU JCF TGRQTVGF HQWT GZGEWVKQPU HQT
JVVR YYY COPGUV[ QTI GP NKDTCT[ KPHQ #5#
GP CEEGUUGF /CTEJ
/KUWUG QH &TWIU #OGPFOGPV #EV

5GEVKQP

$ RCTC

D

p&GCVJ RGPCNV[ HQT TCRKUVU C OWUV /KPKUVGTq 6JG 0CVKQP
,WN[
JVVR YYY PCVKQP NM GFKVKQP PGYU QPNKPG KVGO
FGCVJ RGPCNV[ HQT TCRKUVU C OWUV OKPKUVGT JVON
CEEGUUGF /CTEJ
p0Q RTQOKUGU QXGT FGCVJ RGPCNV[ /1(#q 6CKRGK 6KOGU
JVVR YYY VCKRGKVKOGU EQO 0GYU HTQPV CTEJKXGU

0QXGODGT
CEEGUUGF

/CTEJ

6JG 5WRTGOG 2GQRNGoU 2TQEWTCE[ QH 8KGVPCO JCU HWPEVKQPU QH RTCEVKEKPI RTQUGEWVKQP CPF UWRGTXKUKPI
LWFKEKCN CEVKXKVKGU KP VJG EQWPVT[
1&+*4 6JG &GCVJ 2GPCNV[ KP VJG 15%' #TGC $CEMITQWPF 2CRGT
JVVR YYY QUEG QTI QFKJT
CEEGUUGF
,CPWCT[
%QOOWPKECVKQP 0Q
70 FQEWOGPV %%24 %

R

8NCFKUNCX -QXCNGX GV CN X $GNCTWU 8KGYU CFQRVGF QP
&
0QXGODGT

1EVQDGT

/QTCVQTKWO QP VJG WUG QH VJG FGCVJ RGPCNV[ s 4GRQTV QH VJG 5GETGVCT[ )GPGTCN 70 FQEWOGPV

+PFGZ #%6

#OPGUV[ +PVGTPCVKQPCN #RTKN

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

#

#WIWUV

RCTCU

CPF

%QPENWFKPI QDUGTXCVKQPU 4WUUKCP (GFGTCVKQP %QOOKVVGG CICKPUV 6QTVWTG
VJ UGUUKQP
0QXGODGT
70 &QEWOGPV %%24 % 475 %1
&GEGODGT
RCTC

1EVQDGT

4GUQNWVKQP
6JG UKVWCVKQP KP $GNCTWU CFQRVGF QP
,CPWCT[
4GUQNWVKQP
6JG JQPQWTKPI QH QDNKICVKQPU CPF EQOOKVOGPVU D[ VJG 4WUUKCP (GFGTCVKQP CFQRVGF QP
1EVQDGT
#N 0CUJKTK X 2QNCPF (QWTVJ 5GEVKQP CRRNKECVKQP PQ
/C[
#N 0CUJKTK X 4QOCPKC
6JKTF 5GEVKQP CRRNKECVKQP PQ
,WPG
#OPGUV[ +PVGTPCVKQPCN CPF VJG +PVGTPCVKQPCN
%QOOKUUKQP QH ,WTKUVU UWDOKVVGF YTKVVGP CTIWOGPVU CU VJKTF RCTV[ KPVGTXGPGTU QP 0QXGODGT
JVVR KEL YRGPIKPG PGVFPC EFP EQO YR EQPVGPV WRNQCFU
+%,#+ #OKEWU$TKGH #N0CUJKTKAXA
2QNCPF RFH CEEGUUGF
,CPWCT[
4TCRQ X #NDCPKC CRRNKECVKQP PQ

LWFIOGPV QH

5GRVGODGT

6JG FGCVJ UGPVGPEG QH C HKHVJ RTQVGUVGT #NK ;QWUGH #DFWNYCJCD CN 6CYGGN EQPXKEVGF KP 5GRVGODGT
HQT OWTFGTKPI C RQNKEGOCP KP /CTEJ
YCU WRJGNF QP
,CPWCT[
+P ,CPWCT[
VJG %QWTV QH %CUUCVKQP CEEGRVGF CRRGCNU QH DQVJ VJG 2TQUGEWVQT )GPGTCN CPF QH
/QJCOGF *QUPK /WDCTCM CPF *CDKD 'N #FN[ CICKPUV FKHHGTGPV RCTVU QH VJG XGTFKEV RCXKPI VJG YC[ HQT C
TG VTKCN +V KU WPENGCT KH C TG VTKCN EQWNF NGCF VQ FGCVJ UGPVGPEGU
6JG /WHVK CRRTQXGF VJG UGPVGPEGU KP ,CPWCT[
1P
,CPWCT[
VJG OWTFGT QH C YQOCP

[GCT QNF #NK 0CFGTK YCU JCPIGF JG YCU

YJGP JG YCU CNNGIGFN[ KPXQNXGF KP

*CTO 4GFWEVKQP +PVGTPCVKQPCN p2CTVPGTU KP %TKOG +PVGTPCVKQPCN HWPFKPI HQT FTWI EQPVTQN CPF ITQUU
XKQNCVKQPU QH JWOCP TKIJVUq
JVVR YYY KJTC PGV HKNGU
2CTVPGTUAKPA%TKOGAYGD RFH
CEEGUUGF
,CPWCT[
6JG HKXG UGPVGPEGU YGTG WRJGNF D[ VJG 5WRTGOG %QWTV QP

,CPWCT[

+P 5GRVGODGT VJG 5RGEKCN 4CRRQTVGWT QP VJG UKVWCVKQP QH JWOCP TKIJVU KP VJG +UNCOKE 4GRWDNKE QH +TCP
TGRQTVGF
ECUGU QH nPGVK\GPUo CV TKUM QH FGCVJ 4GRQTV VQ VJG 70)# 70 FQEWOGPV #
5GRVGODGT
JVVR NKXGYKTG COPGUV[ QTI
,WPG
CEEGUUGF
,CPWCT[

KTCP UCWFK CTCDKC CPF VJG WPHCKT VTKCNU HQT FTWIU QHHGPFGTU

6JG EJCTIG QH pCRQUVCU[q YCU FTQRRGF KP

CPF JKU ECUG YCU UGPV DCEM VQ VJG QTKIKPCN EQWTV

1P ,CPWCT[
5TK .CPMCP FQOGUVKE YQTMGT 4K\CPC 0CHGGM YCU GZGEWVGF HQT CNNGIGFN[ OWTFGTKPI
CP KPHCPV KP JGT ECTG KP
YJGP UJG JGTUGNH YCU QPN[
[GCTU QNF
6JGUG HKIWTGU FQ PQV KPENWFG TGRQTVU QH WPNCYHWN MKNNKPIU CPF GZVTCLWFKEKCN GZGEWVKQPU D[ DQVJ CTOGF
QRRQUKVKQP ITQWRU CPF IQXGTPOGPV HQTEGU FWTKPI VJG CTOGF EQPHNKEV
1PN[ &WDCK JCU KVU QYP JKIJGT EQWTVU
6JG &WDCK #RRGNNCVG %QWTV EQOOWVGF VJG UGPVGPEG VQ HKXG [GCTU KP RTKUQP KP ,CPWCT[
%QPENWFKPI QDUGTXCVKQPU ;GOGP *WOCP 4KIJVU %QOOKVVGG

#OPGUV[ +PVGTPCVKQPCN #RTKN

VJ UGUUKQP

+PFGZ #%6

/CTEJ

70

&GCVJ UGPVGPEGU CPF GZGEWVKQPU KP

FQEWOGPV %%24 % ;'/ %1

#RTKN

RCTCU

CPF

%QPENWFKPI QDUGTXCVKQPU -GP[C *WOCP 4KIJVU %QOOKVVGG
70 FQEWOGPV %%24 % -'0 %1
#WIWUV
RCTC

VJ UGUUKQP

,WN[

6JGUG HKIWTGU FQ PQV KPENWFG TGRQTVU QH RWDNKE WPNCYHWN MKNNKPIU D[ CTOGF +UNCOKUV ITQWRU CHVGT
UWOOCT[ JGCTKPIU KP PQTVJGTP /CNK KPENWFKPI pGZGEWVKQPUq D[ UVQPKPI
)QFYKP 2KWU 1LQ #FG[G[G 0PGPPC 1DK UWKPI HQT VJGOUGNXGU CPF QP DGJCNH QH CNN RTKUQPGTU UGPVGPEGF
VQ FGCVJ CPF RTGUGPVN[ QP VJG FGCVJ TQY KP 0KIGTKCP RTKUQPU X )QXGTPQT QH #DKC 5VCVG
QVJGTU UWKV
PQ (*% . %5
.'&#2 #UUGUUOGPV 4GRQTV 2QNN 5WTXG[ QP &GCVJ 2GPCNV[

%TKOG OCPCIGOGPV KP 0KIGTKC

6JGUG HKIWTGU FQ PQV KPENWFG TGRQTVU QH RWDNKE WPNCYHWN MKNNKPIU D[ 5QOCNK CTOGF QRRQUKVKQP ITQWRU
UWEJ CU CN 5JCDCD QH RGTUQPU VJG[ CEEWUG QH UR[KPI QT PQV EQPHQTOKPI VQ VJGKT QYP KPVGTRTGVCVKQP QH
+UNCOKE NCY KPENWFKPI VJG UVQPKPI QH C YQOCP HQT VJG CNNGIGF ETKOG QH pCFWNVGT[ YJKNG OCTTKGFq KP
1EVQDGT
,CNKNC -JCOKU -QMQ YCU TGNGCUGF HTQO FGVGPVKQP CHVGT C EQWTV JGCTKPI QP
,CPWCT[
VJG EQWTV
CESWKVVGF JGT QH CNN EJCTIGU GZEGRV VJQUG TGNCVGF VQ pURTGCFKPI HCNUG PGYUq CPF EQOOWVGF JGT UGPVGPEG
VQ UKZ OQPVJU KORTKUQPOGPV YJKEJ UJG JCU CNTGCF[ URGPV FWTKPI JGT VKOG KP RTG VTCKN FGVGPVKQP
.GICN CPF *WOCP 4KIJVU %GPVTG CPF <CP\KDCT .GICN 5GTXKEGU %GPVTG 6CP\CPKC *WOCP 4KIJVU 4GRQTV
JVVR YYY JWOCPTKIJVU QT V\ YR EQPVGPV WRNQCFU
6#0<#0+# *7/#0 4+)*65
4'2146
RFH CEEGUUGF
(GDTWCT[
.GICN CPF *WOCP 4KIJVU %GPVTG CPF <CP\KDCT .GICN 5GTXKEGU %GPVTG 6CP\CPKC *WOCP 4KIJVU 4GRQTV
R
%QOOWPKECVKQP 0Q
FQEWOGPV %%24 %
&

-COQ[Q X <CODKC 8KGYU CFQRVGF QP
#RTKN

p0Q VCMGTU HQT JCPIOCPoU LQDq 0GYUFC[
JVVR YYY PGYUFC[ EQ \Y

/CTEJ

#WIWUV
PQ VCMGTU HQT JCPIOCPU LQD CEEGUUGF

#RTKN
CFQRVGF D[ VJG #HTKECP %QOOKUUKQP CV KVU VJ 1TFKPCT[ 5GUUKQP
0QXGODGT
JVVR YYY CEJRT QTI HKNGU PGYU
F
UVWF[ASWGUVKQPAFGCVJRGPCNV[ACHTKECA
CEEGUUGF
,CPWCT[
6JG 4WUUKCP (GFGTCVKQP KPVTQFWEGF C OQTCVQTKWO QP GZGEWVKQPU KP #WIWUV
YGTG ECTTKGF QWV DGVYGGP
CPF
KP VJG %JGEJGP 4GRWDNKE

+PFGZ #%6

70

(GDTWCT[

1EVQDGT
AGPI RFH

*QYGXGT GZGEWVKQPU

#OPGUV[ +PVGTPCVKQPCN #RTKN

WHETHER IN A HIGH-PROFILE CONFLICT
OR A FORGOTTEN CORNER OF THE
GLOBE, AMNESTY INTERNATIONAL
CAMPAIGNS FOR JUSTICE, FREEDOM
AND DIGNITY FOR ALL AND SEEKS TO
GALVANIZE PUBLIC SUPPORT TO BUILD
A BETTER WORLD
WHAT CAN YOU DO?
Activists around the world have shown that it is possible to resist
the dangerous forces that are undermining human rights. Be part
of this movement. Combat those who peddle fear and hate.
Join Amnesty International and become part of a worldwide
movement campaigning for an end to human rights violations.
Help us make a difference.
Make a donation to support Amnesty International’s work.

Together we can make our voices heard.
I am interested in receiving further information on becoming a member of Amnesty
International
name
address
country
email

I wish to make a donation to Amnesty International (donations will be taken in UK£, US$ or €)

please debit my

Visa

Mastercard

number
expiry date

I WANT
TO HELP

signature
Please return this form to the Amnesty International office in your country.
For Amnesty International offices worldwide: www.amnesty.org/en/worldwide-sites
If there is not an Amnesty International office in your country, please return this form to:
Amnesty International, International Secretariat, Peter Benenson House,
1 Easton Street, London WC1X 0DW, United Kingdom

amnesty.org

amount

DEATH SENTENCES AND EXECUTIONS 2012
Despite some negative developments, the use of the death penalty in 2012
overall confirmed the global trend towards abolition.
The USA was the only country in the Americas to have carried out executions
in 2012. However, just nine states in the USA carried out executions in 2012,
compared to 13 in 2011. Connecticut became the 17th abolitionist US state.
Despite setbacks in the Asia-Pacific region – including the resumption of
executions in India and Pakistan – Viet Nam did not carry out death sentences
and Singapore observed a moratorium on executions while considering
amendments to its death penalty laws. In sub-Saharan Africa, further progress
was visible. The government of Ghana plans to abolish the death penalty in the
new Constitution. There are no more prisoners on death row in Sierra Leone.
Belarus continued to be the only country in Europe and central Asia to carry
out executions. Legislation to remove the death penalty completely came
into effect in Latvia in January, making it the 97th country abolitionist for all
crimes worldwide.
In December the UN General Assembly adopted the fourth resolution on a
moratorium on the use of the death penalty, with 111 Member States voting
in favour.
Amnesty International
International Secretariat
Peter Benenson House
1 Easton Street
London WC1X 0DW
United Kingdom

This report analyzes some of the key developments in the application of the
death penalty in 2012, presenting figures gathered by Amnesty International
on the number of death sentences handed down and executions carried out
during the year.

www.amnesty.org
Index: ACT 50/001/2013
April 2013

Amnesty International opposes the death penalty in all cases without
exception, regardless of the nature or circumstances of the crime; guilt,
innocence or other characteristics of the individual; or the method used by
the state to carry out the execution.