Cebora EVO 160 M COMBI Manual do usuário

Cebora
Marca
Cebora
Modelo
EVO 160 M COMBI
Tipo
Manual do usuário
  $
   "" %('
  5" '),'
      *%(' 
    *%(
  /40 *%(
1#3  +).-
   !2! +)&'
  "$! *%(
!   32! +)&

$#$($$&$&$& $$ =06
$/@B727@71/;07=3A163;73:3BB@717
'>/@3>/@BA/<2E7@7<527/5@/;A
@A/BHB37:3C<23:39B@7A163'16/:B>:]<3
$7a13A23@316/<533BA16b;/Ab:b1B@7?C3A
$73H/A23@3>C3AB=G3A?C3;/A3:b1B@71=A
$/@B3AA=0@3AA/:3<B3A33A?C3;/3:b1B@71=
*/@/=A/B8/A]69j9//D7=
&3A3@D323:3=53:A93;/
&3A3@D3=<23@23:3<3<3:39B@7A16A163;/
&3A3@D23:/@=163:A163;/
8>,66,5>45,@5,43605><459@=.0/4,@2<,77,
$/55'37B3<A
06
k


!$#&("( )+"& %% &,, "' ()+ %
%))+!"(% +"%('-'.-("*.,-(
&'.%(',+/+%()+-.--%/"-()
+-"/"'.'%.( ('(-( %""'-+,,-"
*.,-( ))+!"( / ,,+ .-"%"33-(
,%.,"/&'-)+()+3"('"",%-.+
$&).#"')&..
%,%-.+"%-%"(+(
)(,,('( ,,+ '("/" )+ /("
)+ %"%-+"C8EG4AGB?HG<?<MM4GBE878I8
8FF8E8<FGEH<GB6BAGEB<E<F6;<7<F8:H<GBE<4FFHAG<78E<I4AG<
74??8BC8E4M<BA<7<F4?74GHE4)8E<A9BE@4M<BA<C<†78GG4:?<4
G8E<6;<878E8<?@4AH4?86B7
+.&(+
*H8FGB4CC4E866;<BABACEB7H687<C8EF8EH@BE<
866878AG< :?< 7 "? CEB687<@8AGB 7< G4:?<B C?4
F@4F4?74GHE4CH•CEB7HEE8?<I8??<7<EH@BE8FHC8
E<BE<4G4?8?<@<G8C8EG4AGB:?<HG<?<MM4GBE<7BIE4AAB@8GG8E8<A
4GGB?8CE864HM<BA<CE8I<FG874??4?8::8
&)"%--+(& '-"")BFFBAB8FF8E874AABF<
Y%46BEE8AG88?8GGE<646;84GGE4I8EF4DH4?F<4F<
6BA7HGGBE8CEB7H6878<64@C<8?8GGEB@4:A8
G<6<&%46BEE8AG87<F4?74GHE4B7<G4:?<B
:8A8E464@C<8?8GGEB@4:A8G<6<4GGBEAB4<64I<
84<:8A8E4GBE<
Y"64@C<@4:A8G<6<78E<I4AG<746BEE8AG<8?8I4G8CBFFBAB<A6<
78E8FH?9HAM<BA4@8AGB7<C468@4>8E"CBEG4GBE<7<4CC4E86
6;<4GHE88?8GGEBA<6;8I<G4?<C468@4>8E78IBAB6BAFH?G4E8<?
@87<6BCE<@47<4II<6<A4EF<4??8BC8E4M<BA<7<F4?74GHE447
4E6B7<G4:?<BF6E<664GHE4B7<F4?74GHE44CHAG<
Y%P8FCBF<M<BA84<64@C<8?8GGEB@4:A8G<6<78??4F4?74GHE4B78?
G4:?<BCBGE85584I8E88998GG<F6BABF6<HG<FH??4F4?HG8
(:A<BC8E4GBE8C8EE<7HEE8<E<F6;<78E<I4AG<74??P8FCBF<
M<BA8 4< 64@C< 8?8GGEB@4:A8G<6< 78I8 4GG8A8EF< 4??8
F8:H8AG<CEB687HE8
4E8<A@B7B6;8<?64IB7<@4FF4878??4C<AM4CBEG48?8G
GEB7BB78??4GBE6<4E<@4A:4AB499<4A64G<,8CBFF<5<?89<F
F4E?<4FF<8@86BA78?A4FGEB
'BA4IIB?:8E8<64I<7<@4FF4878??4C<AM4CBEG48?8GGEB
7BB78??4GBE6<44GGBEAB4?6BECB
'BAFG4E8@4<GE4<?64IB7<@4FF48DH8??B78??4C<AM4
CBEG48?8GGEB7BB78??4GBE6<4,8<?64IB7<@4FF4F<GEBI4
FH??478FGE478??PBC8E4GBE84A6;8DH8??B78??4C<AM4CBE
G48?8GGEB7BB78??4GBE6<478I8FG4E874DH8??4C4EG8
B??8:4E8<?64IB7<@4FF44?C8MMB<A?4IBE4M<BA8C<†
I<6<ABCBFF<5<?84??4MBA47<F4?74GHE4B7<G4:?<B
'BA?4IBE4E8I<6<AB4?:8A8E4GBE8
,)%(,"('"
Y'BAF4?74E8<ACEBFF<@<Gn7<E86<C<8AG<4CE8FF<BA8
B<ACE8F8AM47<CB?I8E<:4FBI4CBE<8FC?BF<I<
Y&4A8::<4E86BA6HE4?85B@5B?887<E8:B?4GBE<7<
CE8FF<BA8HG<?<MM4G<A8??8BC8E4M<BA<7<F4?74GHE4
(&)-""%"-\%--+(& '-"
*H8FGB4CC4E866;<Bv6BFGEH<GB<A6BA9BE@<Gn4??8<A7<64M<B
A<6BAG8AHG8A8??4ABE@4"?823D33AA3
@3 CA/B= A=:= / A1=>= >@=43AA7=</:3 7< C< /;073<B3
7<2CAB@7/:3 *7 >=AA=<= 3AA3@3 7<4/BB7 >=B3<H7/:7 27447
1=:BY<3::/AA71C@/@3:/1=;>/B707:7BY3:3BB@=;/5<3B71/7<
C</;073<B327D3@A=2/?C3::=7<2CAB@7/:3
,&%-"&'-( ))+!"-.+ %--+"
!%--+('"!
'BAF@4?G<E8?84CC4E866;<4GHE88?8GGE<6;84FF<8
@84<E<9<HG<ABE@4?<
"A BGG8@C8E4AM4 4??4 <E8GG<I4 HEBC84  FH<
E<9<HG< 74 4CC4E866;<4GHE8 8?8GGE<6;8 87 8?8GGEBA<6;8 8
E8?4G<I44GGH4M<BA8A8??4@5<GB78??4?8:<F?4M<BA8A4M<BA4
?8?84CC4E866;<4GHE88?8GGE<6;8:<HAG849<A8I<G478IB
AB 8FF8E8 E466B?G8 F8C4E4G4@8AG8 8 6BA98E<G8 47 HA
<@C<4AGB7<E<6<6?B86B6B@C4G<5<?8"ADH4?<Gn7<CEBCE<8G4
E<B 78??8 4CC4E866;<4GHE8 7BIEn <A9BE@4EF< CE8FFB <?
ABFGEB E4CCE8F8AG4AG8 <A ?B6B FH< F<FG8@< 7< E466B?G4
4CCEBI4G< 4A7B 4CC?<64M<BA8 4 DH8FG4 <E8GG<I4
HEBC84@<:?<BE8En ?4 F<GH4M<BA8 4@5<8AG4?8 8 ?4 F4?HG8
H@4A4
"' ,( " --"/( .'3"('&'-( +"!"-
%P,,",-'3")+,('%*.%""-(
(& **&(".
"? G8FGB AH@8E4GB F8:H8AG8 6BEE<FCBA78 4??8 64F8??8
AH@8E4G878??4G4E:4
 "EH??<A<GE4<A49<?BCBFFBAB98E<E8?8@4A<
 "? 9<?B7< F4?74GHE487 <?:EHCCB GE4<A49<?BFBAB FBGGB
G8AF<BA87HE4AG8?4 F4?74GHE4 -8A8E8@4A< 8B::8GG<
@8G4??<6<47<FG4AM4
 %8 F6BFF88?8GGE<6;8 CEBIB64G874??P8?8GGEB7B7<F4?
74GHE4B74?64IBCBFFBAB8FF8E8?8G4?<)EBG8::8EF<
!") '(&).#"$&' (& #
478:H4G4@8AG874?C8E<6B?B7<F6BFF88?8GGE<6;8
 "A7BFF4E8 :H4AG< <FB?4AG< 'BA GB664E8 ?P8?8GGEB7B 4
@4A<AH78'BA<A7BFF4E8:H4AG<H@<7<B74AA8::<4G<
 FF<6HE4EF<7<8FF8E8<FB?4G<74?C8MMB74F4?74E8874?
FHB?B
 ,6B??8:4E8?4FC<A478?64IB7<4?<@8AG4M<BA8CE<@47<
?4IBE4E8FH??4@466;<A4
 "A4?4E8 ?8 8F4?4M<BA< CEB7BGG8 74??4 F4?74GHE4 CH•
8FF8E8AB6<IB4??4F4?HG8
 -8A8E8?4G8FG4?BAG4A474??88F4?4M<BA<
 .G<?<MM4E8HA<@C<4AGB7<I8AG<?4M<BA89BEM4G4B7<F64
E<6B?B64?8C8E8?<@<A4E8?88F4?4M<BA<
 .G<?<MM4E8HA4I8AGB?47<4FC<E4M<BA8C8E8?<@<A4E8?8
8F4?4M<BA<
 %8F6<AG<??8CEBIB64G874??4F4?74GHE4CBFFBAB64HF4
E88FC?BF<BA<B7<A68A7<
 -8A8E8<@4G8E<4?<<A9<4@@45<?<?BAG4AB74??P4E847<F4?
74GHE4
 %8F6<AG<??8CEBIB64G874??4F4?74GHE4CBFFBAB64HF4
E8<A68A7< -8A8E8HA 8FG<AGBE8A8??8 <@@87<4G8 I<6<
A4AM8894EFz6;8HA4C8EFBA4E8FG<CEBAG447HG<?<M
M4E?B
 'BAF4?74E8@4<6BAG8A<GBE<6;<HF<
 "E4::<78??P4E6BCBFFBAB5EH6<4E8:?<B66;<8HFG<BA4
E8?4C8??8
 "A7BFF4E8 8?@8GGB 8 B66;<4?< 7< F<6HE8MM4 .G<?<MM4E8
478:H4G8 CEBG8M<BA< C8E ?8 BE866;<8 8 64@<6< 6BA <?
6B??8GGB 455BGGBA4GB .G<?<MM4E8 @4F6;8E8 4 64F6B
6BA9<?GE<78??46BEE8GG4:E474M<BA8"A7BFF4E8HA4CEB
G8M<BA86B@C?8G4C8E<?6BECB
 %8::8E8 ?8 <FGEHM<BA<CE<@4 7< HG<?<MM4E8?4 @466;<A4
B78F8:H<E8DH4?F<4F<BC8E4M<BA8FH7<8FF4
 'BAE<@HBI8E8Aw6BCE<E8?88G<6;8GG87<4II8EG8AM4
'&.#""& 
'$
*H8FGB@4AH4?8vFG4GBCE8C4E4GB4??BF6BCB7<<FGEH<E8<?
C8EFBA4?84778GGB4??<AFG4??4M<BA84?9HAM<BA4@8AGB87
4??4@4AHG8AM<BA878??4F4?74GE<68
*H8FGB4CC4E866;<BvHA4FBE:8AG87<G8AF<BA86BFG4AG8
474GGB4??4F4?74GHE4&" & 8()'+
BAGEB??4E8 4? E<68I<@8AGB6;8ABAI<F<4ABC4EG< EBGG8B
4I4E<4G8
#5<7 3D3<BC/:3 @31:/;= >3@ >3@27B3 = 2/<<7 23D3
3AA3@34/BB=2/::/1?C7@3<B3/:D3BB=@3#5<7?C/:D=:B/
A7@716732=<=7<4=@;/H7=<7@75C/@2/<B7:/A/:2/B@713A7
>@35/277<271/@3:/@B71=:=327:<C;3@=27;/B@71=:/
''(!.#"
-B:?<8E8?4@466;<A474??P<@54??B86B??B64E?4<AHA?B64?8
478:H4G4@8AG8 I8AG<?4GB CBFF<5<?@8AG8 ABA CB?I8EBFB
9468A7B4GG8AM<BA84ABABFGEH<E8?P8AGE4G48?PHF6<G478?
?P4E<474??84FB?87<E499E8774@8AGB
--'3"('.'+"(--(%.,,("+"64HF4FHE
E<F64?74@8AGB8CBFF<5<?<74AA<4??8C4EG<<AG8EA8
&4AG8A8E8 4?@8AB  @@ 7< FC4M<B ?<58EB 4GGBEAB
4??P4CC4E866;<B
'BA6B??B64E8A8FFHA7<FCBF<G<IB7<9<?GE4::<BFH<C4FF4:
:<7<8AGE4G44E<47<DH8FG4F4?74GE<68
%4:4E4AM<4vAH??4DH4?BE4I8A:4HG<?<MM4GBHADH4?F<4F<
G<CB7<7<FCBF<G<IB7<9<?GE4::<B
&BAG4E8<C4EG<6B?4E<46BEE87B6B@8<??HFGE4GB<A9<:HE4
'&.#" I$$&#
 <B3@@CBB=@3
668A78BFC8:A8?4@466;<A48E8:B?44A6;8?8
:4@@878??4G8AF<BA87<F4?74GHE4
 !/<=>=:/27@35=:/H7=<3
:8A7BFHDH8FG4@4ABCB?4F<E8:B?4?4I8?B6<Gn78?
9<?B7<F4?74GHE4
<:
<:
 /D=27;/AA/
 32271=:=@357/::=
,<4668A78FB?4@8AG8DH4A7B<?G8E@BFG4GB<AG8EEB@C8
<?9HAM<BA4@8AGB78??4F4?74GE<68
 32271=:=@3D3@23
,8:A4?4?P4668AF<BA878??4@466;<A4
 (=@17/27A/:2/BC@/
!/<75:7/
'BA78I88FF8E8HG<?<MM4G4C8E<?FB??8I4@8AGB
'&.#""& 
'$
*H8FG4F4?74GE<68C8E@8GG8?4F4?74GHE47<466<4<B7B?68
466<4<B<ABFF<745<?884??H@<A<B
'$.#"(("
%4F4?74GE<68v6BFGEH<G4F86BA7BDH8FG8ABE@8<AG8EA4
M<BA4?<'"?"
"
'X 'H@8EB7<@4GE<6B?46;878I88FF8E8F8@
CE86<G4GB C8EDH4?F<4F<E<6;<8FG4E8?4G<I4
4??4F4?74GE<68
-E4F9BE@4GBE8+477E<MM4GBE8@BAB94F8
4E4GG8E<FG<648FG8EA478??4@466;<A4
.B -8AF<BA84IHBGBF86BA74E<4/4?BE87<C<66B
1 "?94GGBE87<F8EI<M<B8FCE<@8?4C8E68AGH4?87<
 @<AHG<<A6H<?4F4?74GE<68CH•?4IBE4E847HA4
78G8E@<A4G46BEE8AG8F8AM464HF4E8FHEE<
F64?74@8AG<8F8@C<B1"
*H8FGB IHB?8 7<E8 6;8 ?4 F4?74GE<68 CH•
F4?74E86BAHA46BEE8AG8"
C8E
@<AHG<FH6<Bv <?
"
BEE8AG87<F4?74GHE4
.
-8AF<BA8F86BA74E<46BA6BEE8AG87<F4?74
GHE4"
.
-8AF<BA8AB@<A4?87<4?<@8AG4M<BA8
N!M?<@8AG4M<BA8@BAB94F8!M
I1 max. E’ il massimo valore della corrente assorbita.
l1 eff. E’ il massimo valore della corrente effettiva
assorbita considerando il fattore di servizio.
"), E47B7<CEBG8M<BA878??464E64FF4
E47B 6B@8F86BA746<9E4F<:A<9<646;8
DH8FGB4CC4E866;<BCH•8FF8E8<@@4:4MM<
A4GB@4ABA<@C<8:4GB4??P8FG8EAB7HE4AG8
?8CE86<C<G4M<BA<F8ABA<A6BA7<M<BA8CEBG8GG4
"7BA844?4IBE4E8<A4@5<8AG<6BAE<F6;<B
466E8F6<HGB
'(-%P4CC4E866;<Bv<AB?GE8FG4GBCEB:8GG4GBC8E?4IB
E4E8<A4@5<8AG<6BA:E47B7<CB??HM<BA8/87<"
'&.#" $&#(.#"
*H8FGB4CC4E866;<BvCEBG8GGB74HAG8E@BFG4GBABE@4?
@8AG86;<HFBCBF<M<BA4GBFH?GE4F9BE@4GBE87<CBG8AM4
*H4A7B <? G8E@BFG4GB <AG8EI<8A8 ?4 @466;<A4 F@8GG8 7<
F4?74E8@8AGE8<?@BGBI8AG<?4GBE86BAG<AH449HAM<BA4E88
<??87:<4??BF<4668A78
BCB?P<AG8EI8AGB4GG8A78E84?6HA<@<AHG<<A@B7B746BA
F8AG<E8<?E499E8774@8AGB78?:8A8E4GBE8
'
!''"#$&
%P<AFG4??4M<BA8 78??4 @466;<A4 78I8 8FF8E8 8F8:H<G4 74
C8EFBA4?8 8FC8EGB -HGG< < 6B??8:4@8AG< 78IBAB 8FF8E8
8F8:H<G< <A 6BA9BE@<Gn 4??8 I<:8AG< ABE@8 8 A8? C<8AB
E<FC8GGB78??4?8::84AG<A9BEGHA<FG<64I87<ABE@4"
"%
BAGEB??4E86;8<?7<4@8GEB78?9<?B6BEE<FCBA744?7<4@8
GEB <A7<64GB FH? EH??<AB 8 @BAG4E8 ?4 5B5<A4 78? 9<?B
FF<6HE4EF<6;8<?9<?B7<F4?74GHE4C4FF<78AGEB?4:B?478?
EH??<AB  )E<@4 7< 6B??8:4E8 <? 64IB 7< 4?<@8AG4M<BA8 
4FF<6HE4EF< 6;8 ?4 G8AF<BA8 7< E8G86BEE<FCBA74 4 DH8??4
78??4F4?74GE<68DH<A7<
4 <A64FB7<HA6B??8:4@8AGBC8E@4A8AG84??<@C<4AGB
7<4?<@8AG4M<BA8F8AM4FC<A4vA868FF4E<BCE8I878
E8HA<AG8EEHGGBE8:8A8E4?87<64C46<Gn478:H4G4<A
466BE7B6BA<74G<7<G4E:4
5 <A64FB7<HA6B??8:4@8AGB6BAFC<A4HF4EA8HA47<
64C46<Gn478:H4G4<A466BE7B6BA<74G<7<G4E:4
"ADH8FGB64FB?4FC<A478I88FF8E8HF4G4C8EF6B?
?8:4E86B@C?8G4@8AG8?4@466;<A474??4E8G87BCB
4I8ECBF<M<BA4GBFH#?<AG8EEHGGBE8
"?6BA7HGGBE8:<4??BI8E7878I88FF8E86B??8:4GB4?G8E@<
A4?87<G8EE4
BAA8GG8E8<?@BEF8GGB78?64IB7<@4FF4 4?C8MMB74
F4?74E8
"?6<E6H<GB7<F4?74GHE4ABA78I88FF8E8CBFGB78?<58E4G4
@8AG846BAG4GGB7<E8GGBB<A7<E8GGB6BA<?6BA7HGGBE87<
CEBG8M<BA8F8ABAA8?C8MMB74F4?74E8
,8<?C8MMB<A?4IBE4M<BA8I<8A86B??8:4GB78?<58E4G4@8A
G84G8EE44GGE4I8EFB<?6BA7HGGBE87<CEBG8M<BA8<?6B??8
:4@8AGB78I88FF8E8<?C<†7<E8GGBCBFF<5<?8878F8:H<GB
6BAHA6BA7HGGBE87<F8M<BA84?@8ABH:H4?84DH8??478?
6BA7HGGBE87<E<GBEAB78??46BEE8AG87<F4?74GHE486BA
A8FFB4?C8MMB<A?4IBE4M<BA8A8??BFG8FFBCHAGB78?
6BA7HGGBE87<E<GBEABHG<?<MM4A7B<?@BEF8GGB78?6BA7HGGB
E87<E<GBEABBCCHE8HG<?<MM4A7BHAF86BA7B@BEF8GGB7<
@4FF4CBFGB<@@87<4G4@8AG8I<6<AB
(:A<CE864HM<BA878I88FF8E8CE8F4C8E8I<G4E86BE
E8AG<I4:4AG<7<F4?74GHE4
668A78E8?4@466;<A4GE4@<G8?P<AG8EEHGGBE8
,9<?4E8?PH:8??B:4F6BA<6B EHBG4A7B?B<AF8AFBBE4E<B
,I<G4E8?PH:8??BCBEG46BEE8AG8
"=< >@3;3@3 7: >C:A/<B3 23::/ B=@17/ >@7;/ 27 /D3@3
:3BB=/BB3<B/;3<B3:37AB@CH7=<72CA=
<@CBEG4AG84FF<6HE4EF<6;8?4@466;<A4F<4FC8AG4B:A<
IB?G46;8F<FBFG<GH<F68?45B5<A478?9<?B8<?EH??BGE4<A49<
?BC8E
8I<G4E86;8<?@BGBE<7HGGBE8F<4II<<466<78AG4?@8AG8
)E8@8E8<?CH?F4AG878??4GBE6<4 8?4F6<4E?BFB?B4??49HB
E<HF6<G478?9<?B
:47:=27A/:2/BC@/>Cg1/CA/@343@7B3>3@4=@/B3
'BACHAG4E8?4GBE6<4I8EFBC4EG<78?6BECB4?GE8C8EFBA8
B@8G4??<DH4A7BF<@BAG4<?9<?B7<F4?74GHE4
+<4II<G4E8?PH:8??B CBEG46BEE8AG8 4FF<6HE4A7BF< 6;8 <?
7<4@8GEB78?9BEBF<4C4E<4?9<?BHG<?<MM4GB
"A9<?4E8 ?PH:8??B :4F 6BA<6B 7< F4?74GHE4  EHBG4A7B?B
F8@CE8<AF8AFBBE4E<B
# !"(# ()#'
S %4 5B@5B?4 7< :4F 78I8 8FF8E8 8DH<C4::<4G4 7< HA
E<7HGGBE87<CE8FF<BA887<HA9?HFFB@8GEB
S,8?45B@5B?4vCBF<M<BA4G4FH?C<4A4?8CBEG45B@5B?4
78??4@466;<A478I88FF8E89<FF4G46BA?4CCBF<G464G8A4
878FF8E87<7<@8AF<BA<G4?<74ABA6B@CEB@8GG8E8?4FG4
5<?<Gn78??4@466;<A4
S,B?B7BCB4I8ECBF<M<BA4GB?45B@5B?46B??8:4E8<?GH5B
:4F HF68AG8 74??4 C4EG8 CBFG8E<BE8 78??4 @466;<A4 4?
E<7HGGBE87<CE8FF<BA8
S CE<E8 ?4 5B@5B?4 78? :4F 8 E8:B?4E8 <? 9?HFFB@8GEB 4
6<E64?G@<A
--'3"('BAGEB??4E86;8<?:4FHF4GBF<46B@C4G<5<
?86BA<?@4G8E<4?874F4?74E8
"#("& 
)E<@478??PHFB7<DH8FG4F4?74GE<68?8::8E84GG8AG4@8AG8
?4ABE@4""%8I8E<9<64E8?P<AG8:E<Gn
78??P<FB?4@8AGB78<64I<78??4GBE6<4878?64IB@4FF4
' ()&
' ()& I## 
=<>@=B3H7=<3275/A
)8E?8F4?74GHE87<466<4<B7B?68F<CH•HG<?<MM4E8+ ('
(BCCHE8(
B??8:4E8<64I<6B@8<A7<64GB<A9<:HE4
,68:?<8E8?4G8AF<BA87<F4?74GHE4GE4@<G8?8@4ABCB?478?
6B@@HG4GBE8EBG4G<IBII<6<A4EF<4?CHAGB7<F4?74GH
E48CE8@8E8<?CH?F4AG878??4GBE6<4
:<E8FH??4@4ABCB?478?CBG8AM<B@8GEB 9<A6;wF<BGG8EEn
HA4F4?74GHE46BAHAEH@BE86BFG4AG886BAG<AHB
BA?4I8?B6<GnGEBCCB8?8I4G4<?9<?BG8A784<@CHAG4EF<FH?
C8MMB9468A7BE<@54?M4E8?4GBE6<46BAHA4I8?B6<GnGEBC
CB54FF4<?9<?B9BA784:B668F4?GH4E<8BCCHE8?P4E6BABA
E8FG44668FB
-8E@<A4G4?4F4?74GHE4FC8:A8E8?4@466;<A486;<H78E8
?45B@5B?478?:4F
)8E?4:<HFG4<A6?<A4M<BA87<F4?74GHE4I87<9<:HE4
'3<H/>@=B3H7=<3275/A
B??8:4E8<64I<6B@8<A7<64GB<A9<:HE4
,<78I8HG<?<MM4E8FB?B9<?B4A<@4GB…E<FCBA78AG84??4
ABE@40,,-""BCCHE8- ,474GGB4??H
G<?<MMBF8AM4CEBG8M<BA8:4FFBF4
B??8:4E8?4C<AM478?64IB7<@4FF44?C8MMB74F4?74E8
BCB 4I8E 6B??8:4GB < 64I< F8:H<E8 ?8 FG8FF8 <FGEHM<BA<
E<CBEG4G84?C4E4:E49B
' C8E BGG8A8E8 F4?74GHE8 E466BE74G8 8 58A CEBG8GG8
F8@CE874F<A<FGE4478FGE4874??4?GBI8EFB<?54FFB
??49<A87<B:A<F4?74GHE4E<@HBI8E8?4F6BE<4
)8E?4:<HFG4<A6?<A4M<BA87<F4?74GHE4I87<9<:
' ()& I )!"#
%4F4?74GE<6878I88FF8E8CE87<FCBFG46B@8C8E?4F4?74
GHE478??P466<4<B7B?686BACEBG8M<BA87<:4F4CC?<64A7B
?8F8:H8AG<I4E<4AG<
+ ('6B@8:4F7<CEBG8M<BA8C8E?4F4?74GHE4
.A9<?B7<4CCBEGB7<6B@CBF<M<BA8478:H4G44?@4G8E<4
?854F874F4?74E8
U)8EF4?74E8%%.&'9<?B„F<?<6<B
U)8EF4?74E8'-"(+(%9<?B„F<?<6<B
U)8EF4?74GHE4)+%.&'9<?B@4:A8F<B
U)8EF4?74GHE4+ %9<?B@4:A8F<B
.G<?<MM4E8@B?88FC4MMBA4GE<6<FC86<9<6;8C8E?P4??H@<A<B
F8AM4@4<HF4E?8FH4?GE<@4G8E<4?<
+"(+-6;8?4CH?<M<4vDH4?<Gn
%85B5<A87<9<?B78IBAB8FF8E86BAF8EI4G878AGEBF46
6;8GG<7<AL?BA6BAHA78H@<7<9<64AG8
)8E?4:<HFG4<A6?<A4M<BA87<F4?74GHE4I87<?49<:HE4
' ()& I#"#'' 
%4F4?74GE<6878I88FF8E8CE87<FCBFG46B@8C8E?4F4?74
<:
<:
<:
GHE478??P466<4<B7B?686BACEBG8M<BA87<:4F4CC?<64A7B
?8F8:H8AG<I4E<4AG<
UB5<A47<9<?B7<466<4<B<ABFF<745<?86B@C4G<5<?86BA?4
6B@CBF<M<BA878??P466<4<B74F4?74E8
UB@5B?46BAG8A8AG8+ ('(6B@CBF<
M<BA86BAF<:?<4G4
%P<A6?<A4M<BA878??4GBE6<48?47<E8M<BA87<F4?74GHE46BA
F<:?<4G8FBAB<??HFGE4G8A8??49<:HE4
!")(".#"#"(&# 
%4@4AHG8AM<BA878I88FF8E88F8:H<G474C8EFBA4?8DH4
?<9<64GB
"#("& 
S,C8:A8E8?4F4?74GE<688GB:?<8E8?4FC<A47<4?<@8AG4M<B
A8 74??4 CE8F4 CE<@4 7< B:A< BC8E4M<BA8 7< 6BAGEB??B 8
@4AHG8AM<BA8
S%8C4EG<<A@BI<@8AGBCBFFBAB64HF4E8:E4I<?8F<BA<
S-8A8EF<?BAG4AB74C4EG<<A@BI<@8AGB
S % ,.)+"" "'','-" CBFFBAB 64HF4E8
:E4I<5EH6<4GHE8
S%4F6<4EE499E8774E8CE<@47<CEB6878E84??4@4AHG8AM<BA8
SFCBEG4E8C8E<B7<64@8AG8?4CB?I8E8B<@4G8E<4?<8FGE4
A8< 6;8 8I8AGH4?@8AG8 F< 9BFF8EB78CBF<G4G< FH? GE4F9BE
@4GBE8 B FH< 7<B7< C8E 94E8 6<• HF4E8 HA :8GGB 7< 4E<4
F86648CH?<G4
S'8?E<@BAG4E8<?EH??BGE4<A49<?B94G84GG8AM<BA86;8?4:B?4
F<44??<A84G44?9<?B86;86BEE<FCBA744?7<4@8GEB78?9<?B
HF4GB
S &4AG8A8E8 6BFG4AG8@8AG8 CH?<GB ?P<AG8EAB 78??PH:8??B
:4F<A@B7B748I<G4E8CBAG<@8G4??<6<6BFG<GH<G<74FCEHM
M< 7< F4?74GHE4 GE4 ?PH:8??B :4F 8 ?PH:8??B CBEG46BEE8AG8
FF<6HE4EF<6;8<?9BEB7<HF6<G478??PH:8??BCBEG46BEE8AG8
ABA F< F<4 8668FF<I4@8AG8 4??4E:4GB <A 64FB 6BAGE4E<B
FBFG<GH<E?B
SI<G4E8A8?@B7BC<†4FFB?HGB7<54GG8E8?4GBE6<4B7<
94E?8FH5<E8HEG<I<B?8AG<
!")(".#"
#5<77<B3@D3<B=27;/<CB3<H7=<323D33AA3@33A35C7B=2/
>3@A=</:3 ?C/:7471/B= <3: @7A>3BB= 23::/ <=@;/

!")(".#""&(#&
"A64FB7<@4AHG8AM<BA84??<AG8EAB78??P4CC4E866;<B4FF<6H
E4EF<6;8?<AG8EEHGGBE8 F<4<ACBF<M<BA8(86;87:1/D=27
/:7;3<B/H7=<3A7/A1=::35/B=2/::/@3B3
)8E<B7<64@8AG8<AB?GE8vA868FF4E<BCH?<E8?P<AG8EAB78??P4C
C4E866;<B
74??4CB?I8E8@8G4??<64466H@H?4G4F<HF4A7B4E<4
6B@CE8FF4
#&!"()'&#$#)"
"(&*"(#&$&.#"
BCB 4I8E 8F8:H<GB HA4 E<C4E4M<BA8 94E8 4GG8AM<BA8 4
E<BE7<A4E8<?645?4::<B<A@B7B6;8I<F<4HAF<6HEB<FB?4
@8AGBGE4<??4GBCE<@4E<B87<??4GBF86BA74E<B78??4@466
6;<A4 I<G4E8 6;8 < 9<?< CBFF4AB 4A74E8 4 6BAG4GGB 6BA
C4EG<<A@BI<@8AGBBC4EG<6;8F<E<F64?74AB7HE4AG8<?9HA
M<BA4@8AGB+<@BAG4E8GHGG8?894F68GG86B@8FH??P4CC4
'(&%"
EB:4M<BA8
7<6BEE8AG8
?<@<G4G4
,4?74GHE4
6BA@B?G8
CEB<8M<BA<
7<@8G4??B
"?9<?BABA
4I4AM4B
4I4AM4
<EE8:B?4E
@8AG8
"?9<?BF<
5?B6648F<
4GGBE6<:?<4
GE4<EH??<8<?
:H<749<?B
7P8AGE4G4<A
GBE6<4
)BEBF<Gn
A8?6BE7B
A87<F4?
74GHE4
)+("%.,
HF<5<?87<?<A845EH6<4GB
<B7BB7<B7<5EH6<4G<
,6;8748?8GGEBA<645EH6<4G4
B??8:4@8AG<8?8GGE<6<7<CBG8AM4
GBE6<4B@4FF44??8AG4G<
B@@HG4GBE8E8:B?4M<BA8G8A
F<BA86BAHA6BAG4GGB<A68EGB
EE4G4E8:B?4M<BA878<C4E4@8GE<
7<F4?74GHE4
B??8:4@8AG<7<@4FF4<AFH99<6<8AG<
B?4EH??BGE4<A49<?BGEBCCB?4E:4
H4<A4BGGHE4G4B<AG4F4G4
+H??BCE8@<9<?BABAFGE8GGB
.:8??BCBEG46BEE8AG8BGGHE4GB
<4@8GEBH:8??BCBEG46BEEF54:?<4GB
B?478?EH??BABA4??<A84G4
H4<A4BGGHE4G4B<AG4F4
G"AFH99<68AM478?:4F7<CEBG8M<BA8
%8@5<74F4?74E8GEBCCBBFF<
74G<
.:8??B:4F<AG4F4GBC4EM<4?@8AG8
BGBG4?@8AG874:?<FCEHMM<
+"&"(
,BFG<GH<E89HF<5<?8
,BFG<GH<E8
,BFG<GH<E?4
,GE<A:8E8GHGG<<6B??8:4@8AG<
4@5<4E8<?6B@@HG4GBE8
+8:B?4E?<6BA<CBG8AM<B@8GE<G8A
F<BA87<F4?74GHE48I8?B6<Gn9<?B
BAGEB??4EA8?899<68AM4
,BFG<GH<E8<?EH??B
,9<?4E?48CH?<E?4
,GE<A:8E?B
,BFG<GH<E?B
,BFG<GH<E?B
??<A84E?4
,9<?4E?48CH?<E?4
H@8AG4E8?4CBEG4G478?:4F
)H?<E?<466HE4G4@8AG86BAHA4
FC4MMB?4@8G4??<64
,@BAG4E?B8CH?<E?B4I8A7B6HE4
7<ABA<AG4F4E8<9BE<7<HF6<G478?
:4FBCCHE8FBFG<GH<E?B
E866;<BBE<:<A4?8<A@B7B748I<G4E86;8F8466<78AG4?
@8AG8HA6BA7HGGBE8F<EB@C8BF<F6B??8:4CBFF44II8
A<E8HA6B??8:4@8AGBGE4<?CE<@4E<B87<?F86BA74E<B
+<@BAG4E8<AB?GE8?8I<G< 6BA ?8 EBA78??878AG8??4G8 6B@8
FH??P4CC4E866;<B BE<:<A4?8
"#! I)'#
!$#&("( (+ ,-+-"' -! *.")&'-
+-!('-'-,(-!",&'.%0!"!&.,-
,-(+"')%&"%"+-(%%.,+,(+
-!'-"+()+-"/%",)'(-!&!"'
-!",*.")&'-&.,-.,,(%%2(+0%
"' ()+-"(',
'(-$&)(#"'
0%"' ' + .--"' ' 
!+&.%-(2(.+,%'(-!+,
-;8 HF8E @HFG G;8E89BE8 58 87H64G87
4:4<AFGG;8;4M4E7FFH@@4E<M8758?BJ78E<I<A:9EB@J8?7
<A: BC8E4G<BAF BE @BE8 78G4<?87 <A9BE@4G<BA BE78E G;8
@4AH4?6B78
'(",
-;<F @46;<A8 7B8F ABG 7<E86G?L CEB7H68 AB<F8
8K6887<A:7-;8C?4F@46HGG<A:J8?7<A:CEB68
7HE8 @4L CEB7H68 AB<F8 ?8I8?F 58LBA7 F4<7 ?<@<G
HF8EF@HFGG;8E89BE8<@C?8@8AG4??CE864HG<BAFE8DH<E875L
?4J
%-+"'& '-""%,&4L5874A:8EBHF
Y ?86GE<6 6HEE8AG 9B??BJ<A: G;EBH:; 4AL 6BA
7H6GBE64HF8F?B64?<M87?86GE<64A7&4:A8G<6
<8?7F &08?7<A:6HGG<A: 6HEE8AG6E84G8F
&9<8?7F4EBHA7645?8F4A7CBJ8EFBHE68F
Y-;8@4:A8G<69<8?7F6E84G875L;<:;6HEE8AGF
@4L 49986G G;8 BC8E4G<BA B9 C468@4>8EF 084E8EF B9 I<G4?
8?86GEBA<68DH<C@8AGC468@4>8EFF;4??6BAFH?GG;8<EC;LF<
6<4A589BE858:<AA<A:4AL4E6J8?7<A:6HGG<A::BH:<A:BE
FCBGJ8?7<A:BC8E4G<BAF
YKCBFHE8GB&9<8?7F<AJ8?7<A:6HGG<A:@4L;4I8BG;8E
;84?G;89986GFJ;<6;4E8ABJABG>ABJA
Y ?? BC8E4GBEF F;BH?7 HF8 G;8 9B??BJ<A:CEB687HE8F <A
BE78EGB@<A<@<M88KCBFHE8GB&9<8?7F9EB@G;8J8?7
<A:6HGG<A:6<E6H<G
+BHG8G;88?86GEB784A7JBE>645?8FGB:8G;8E,86HE8
G;8@J<G;G4C8J;8ACBFF<5?8
'8I8E6B<?G;88?86GEB78GBE6;?8474EBHA7LBHE5B7L
BABGC?468LBHE5B7L58GJ88AG;88?86GEB78GBE6;
?8474A7JBE>645?8F"9G;88?86GEB78GBE6;?847645?8
<F BALBHEE<:;GF<78G;8JBE>645?8F;BH?74?FB58BA
LBHEE<:;GF<78
BAA86GG;8JBE>645?8GBG;8JBE>C<8684F6?BF84F
CBFF<5?8GBG;84E8458<A:J8?7876HG
BABGJBE>A8KGGBJ8?7<A:6HGG<A:CBJ8EFBHE68
1)%(,"(',
YBABGJ8?7<AG;8I<6<A<GLB96BAG4<A8EFHA78ECE8F
FHE8BE<AG;8CE8F8A68B98KC?BF<I87HFG:4F8FBE
9H@8FY??6L?<A78EF4A7CE8FFHE8E8:H?4GBEFHF87<A
J8?7<A:BC8E4G<BAFF;BH?758;4A7?87J<G;64E8
%-+(& '-"(&)-""%"-2
-;<F @46;<A8 <F @4AH946GHE87 <A 6B@C?<4A68 J<G; G;8
<AFGEH6G<BAF6BAG4<A87<AG;8FG4A74E7"%
/<2;CAB03CA32A=:3:G4=@>@=43AA7=</:>C@>=A3A7</<
7<2CAB@7/:3<D7@=<;3<B(63@3;/G03>=B3<B7/:274471C:
B73A 7< 3<AC@7<5 3:31B@=;/5<3B71 1=;>/B707:7BG 7< <=<
7<2CAB@7/:3<D7@=<;3<BA
",)(,% ( %-+"% ' %-+('"
*.")&'-
B ABG 7<FCBF8 B9 8?86GE<64? 8DH<C@8AG GB:8G;8E
J<G; ABE@4? J4FG8"A B5F8EI4A68 B9 HEBC84A
<E86G<I8BA04FG8?86GE<64?4A7?86GEBA<6
DH<C@8AG 4A7 <GF <@C?8@8AG4G<BA <A 466BE74A68 J<G;
A4G<BA4? ?4J 8?86GE<64? 8DH<C@8AG G;4G ;4F E846;87 G;8
8A7B9<GF?<98@HFG586B??86G87F8C4E4G8?L4A7E8GHEA87
GB4A8AI<EBA@8AG4??L6B@C4G<5?8E86L6?<A:946<?<GLFG;8
BJA8EB9 G;88DH<C@8AGLBHF;BH?7:8G<A9BE@4G<BABA
4CCEBI876B??86G<BAFLFG8@F 9EB@BHE ?B64? E8CE8F8AG4
G<I8L4CC?L<A:G;<FHEBC84A<E86G<I8LBHJ<??<@CEBI8
G;88AI<EBA@8AG4A7;H@4A;84?G;
"',(&%.'-"(',+*.,-,,",-'
+(&*.%"")+,(''%
+&"" 
-;8 9B??BJ<A: AH@58E87 G8KG 6BEE8FCBA7F GB G;8 ?458?
AH@58E875BK8F
 E<I8EB??F64A<A=HE89<A:8EF
 08?7<A:J<E84A77E<I8C4EGF4E84GJ8?7<A:IB?G4:8
7HE<A: BC8E4G<BA U >88C ;4A7F 4A7 @8G4? B5=86GF
4J4L
 ?86GE<6F;B6>9EB@J8?7<A:8?86GEB78BEJ<E<A:64A
><??
 084E 7EL <AFH?4G<A: :?BI8F B ABG GBH6;8?86GEB78
J<G;54E8;4A7BABGJ84EJ8GBE74@4:87:?BI8F
 )EBG86G LBHEF8?9 9EB@ 8?86GE<6 F;B6> 5L <AFH?4G<A:
LBHEF8?99EB@JBE>4A7:EBHA7
  ""
 <F6BAA86G <ACHG C?H: BE CBJ8E 589BE8JBE><A: BA
@46;<A8
 E84G;<A:J8?7<A:9H@8F64A58;4M4E7BHFGBLBHE
;84?G;
 $88CLBHE;847BHGB99H@8F
 .F8 9BE687 I8AG<?4G<BA BE ?B64? 8K;4HFG GB E8@BI8
9H@8F
 .F8I8AG<?4G<A:94AGBE8@BI89H@8F
 08?7<A:FC4E>F64A64HF88KC?BF<BABE9<E8
 $88C9?4@@45?8@4G8E<4?F4J4L9EB@J8?7<A:
 08?7<A:FC4E>F64A64HF89<E8F!4I849<E88KG<A:H<
F;8EA84E5L4A7;4I84J4G6;C8EFBAE847LGBHF8<G
 BABGJ8?7BA7EH@FBE4AL6?BF876BAG4<A8EF
 E6E4LF64A5HEA8L8F4A7<A=HE8F><A
 084E;4G4A7F498GL:?4FF8F.F884ECEBG86G<BA4A7
5HGGBAF;<EG6B??4E.F8J8?7<A:;8?@8GJ<G;6BEE86G
F;478B99<?G8E084E6B@C?8G85B7LCEBG86G<BA
 86B@8 GE4<A87 4A7 E847 G;8 <AFGEH6G<BAF 589BE8
JBE><A:BAG;8@46;<A8BEJ8?7<A:
 BABGE8@BI8BEC4<AGBI8E6BI8E?458?
"& '&$(#"
'$(#"'
-;<F@4AH4?;4F588ACE8C4E879BEG;8CHECBF8B987H
64G<A:C8EFBAA8?4FF<:A87GB<AFG4??BC8E4G84A7F8EI<68
G;8J8?7<A:@46;<A8
-;<F8DH<C@8AG<F46BAFG4AGIB?G4:8CBJ8EFBHE68FH<G
45?89BE&" & 4A7()'+J8?7<A:
.CBAE868<I<A:G;8@46;<A8@4>8FHE8G;8E84E8AB5EB
>8ABE74@4:87C4EGF
(63 >C@16/A3@ A6=C:2 /22@3AA /<G 1=;>:/7<BA 4=@
:=AA3A =@ 2/;/53 B=B63 D31B=@ $:3/A37<271/B3 B63
/@B71:3/<2A3@7/:<C;03@E63<3D3@@3?C3AB7<57<4=@
;/B7=</0=CBB63E3:27<5;/167<3
$ !"(
.AC46>G;8@46;<A84A7C?468<G<A4A478DH4G8?LI8AG<
?4G874E847HFG9E88<9CBFF<5?8G4><A:64E8ABGGB5?B6>
G;84<E<AG4>84A7BHG?8G9EB@G;86BB?<A:F?BGF
.-"(' +. "+ "+.%-"(' 64HF8F BI8E
;84G<A:4A76BH?774@4:8<AG8EA4?C4EGF
$88C4G?84FG@@B99E88FC4684EBHA7G;8@46;<A8
'8I8EC?4684AL9<?G8E<A:78I<68BI8EG;84<E<AG4>8CB<AGF
B9G;<FJ8?7<A:@46;<A8
-;8 J4EE4AGL F;4?? 586B@8 IB<7 <9 4AL GLC8 B9 9<?G8E<A:
78I<68 <F HF87 &BHAG G;8 C4EGF FHCC?<87 J<G; G;8
@46;<A84FF;BJA<AG;89<:HE8
'&$(#"#(!"
'E7B16
-HEAFG;8@46;<A8BA4A7B994A74?FBE8:H?4G8FG;8
J8?7<A:IB?G4:8E4A:8
'3BB7<59<=0
-;<F>AB5F8EI8FGB47=HFGG;8J8?7<A:J<E8FC887
/@B61/0:3
-3::=E 
%<:;GFBA?LJ;8AG;8G;8E@BFG4G<FGE<CC874A7<AG8E
EHCGFG;8@46;<A8BC8E4G<BA
@33< 
"A7<64G8FG;4GG;8@46;<A8<FGHEA87BA
+3:27<5B=@16
/<2:3
&HFGABG58HF87GB?<9GG;8@46;<A8
"& '&$(#"'
'$(#"'
-;<FJ8?7<A:@46;<A84??BJFJ8?7<A:B9FB9GFG88?FG4<A
?8FFFG88?4A74?H@<A<H@
,$ "(#"#(" '$(#"'
-;8J8?7<A:@46;<A8<F5H<?G466BE7<A:GBG;8F8<AG8EA4
G<BA4? FG4A74E7F '  "  ?  
<:
<:
""
'X ,8E<4?AH@58EJ;<6;@HFG4?J4LF58<A7<
64G87<A4AL<ADH<ELE8:4E7<A:G;8J8?7<A:
@46;<A8
,<A:?8C;4F8E86G<9<8EGE4AF9BE@8E
KG8EA4?@46;<A86;4E46G8E<FG<6
.B ,86BA74ELAB?B47IB?G4:8C84>I4?H8
1 -;87HGL6L6?88KCE8FF8FG;8C8E68AG4:8B9
@<AHG8F7HE<A:J;<6;G;8J8?7<A:
@46;<A864AEHA4G468EG4<A6HEE8AGJ<G;BHG
BI8E;84G<A:
K4@C?814G"
-;<F@84AF
G;4GG;8@46;<A864AJ8?7J<G;46HEE8AG"
9BE BHGB9@<AHG8FG;HF
"
08?7<A:6HEE8AG
.
,86BA74ELIB?G4:8J<G;J8?7<A:6HEE8AG"
.
+4G87CBJ8EIB?G4:8
N!M ,<A:?8C;4F8BE!MCBJ8EFHCC?L
"@4K -;<F<FG;8@4K<@H@I4?H8B9G;845FBE587
6HEE8AG
"899 -;<F <F G;8 @4K<@H@ I4?H8 B9 G;8 46GH4?
6HEE8AG45FBE5876BAF<78E<A:G;87HGL
6L6?8
"), )EBG86G<BAE4G<A:9BEG;8;BHF<A:
E478 4FG;8F86BA77<:<G@84AFG;4GG;<F
8DH<C@8AG @4L 58 FGBE87 5HG <G <F ABG
FH<G45?89BEHF8BHG7BBEF<AG;8E4<AHA?8FF
<G<FCEBG86G87
,H<G45?89BEHF8<A<A6E84F87;4M4E74E84F
'(--;8J8?7<A:@46;<A8;4F4?FB588A78F<:A879BE
HF8<A8AI<EBA@8AGFJ<G;:E478CB??HG<BAF88"
'&$(#"#$&#((#"
-;<F78I<68<FCEBG86G875L4ABE@4??L6?BF87G;8E@BFG4G
BAG;8CBJ8EGE4AF9BE@8E
0;8AG;8G;8E@BFG4G<FGE<CC87G;8@46;<A8FGBCFJ8?7
<A:J;<?8G;8@BGBE7E<I8A94A6BAG<AH8FGBEHA4A7G;8
L8??BJ%?<:;GF
9G8E<G;4F588AGE<CC87J4<G498J@<AHG8FGB4??BJG;8
:8A8E4GBEGB6BB?7BJA
"'( (#"
-;8@46;<A8@HFG 58 <AFG4??87 5LF><??87C8EFBAA8???
6BAA86G<BAF @HFG 58 @478 <A 6B@C?<4A68 J<G; 6HEE8AG
E8:H?4G<BAF4A7<A 9H??E8FC86GB9 F498GL?4JF F88FG4A
74E7F""%
&4>8FHE8G;4GG;8J<E87<4@8G8E6BEE8FCBA7FGBG;8BA8
<A7<64G87BAG;8EB??8E4A7@BHAGG;8J<E8E88?&4>8FHE8
G;4GG;8 J8?7<A:J<E8C4FF8F G;EBH:;G;8 :EBBI8<A G;8
F@4??EB??8E
89BE86BAA86G<A: G;8 CBJ8E 645?8  @4>8 FHE8 G;4G
G;8 CBJ8E IB?G4:8 6BEE8FCBA7F GB G;4G B9 G;8 J8?7<A:
@46;<A8G;8A
4 9BEC8E@4A8AG6BAA86G<BAGBG;8CBJ8E@4<AFJ<G;BHG
4C?H:LBH@HFG<AF8EG4@4<AFJ<G6;;4I<A:4FH<G45?8
64C46<GL<A6B@C?<4A68J<G;G;8E4G87FC86<9<64G<BAF
5 9BE 4 C?H:FB6>8G 6BAA86G<BA HF8 4 C?H: ;4I<A: 4
FH<G45?864C46<GL<A6B@C?<4A68J<G;G;8E4G87FC86<
9<64G<BAF"AG;<F64F8G;8C?H:@HFG58HF87GB6B@
C?8G8?L7<F6BAA86GG;8@46;<A89EB@G;8@4<AF49G8E
'
F8GG<A:G;8FJ<G6; GB#B99
-;8 L8??BJ:E88A J<E8 @HFG 58 6BAA86G87 GB G;8 84EG;
G8E@<A4?BAA86G G;884EG; 6?4@C GB G;8 C4EG GB 58
J8?787
-;8 J8?7<A: 6<E6H<G @HFG ABG 58 78?<58E4G8?L C?4687 <A
7<E86GBE<A7<E86G6BAG46GJ<G;G;8CEBG86G<BAJ<E88K68CG
<AG;8JBE>C<868
"9G;8JBE>C<868<F78?<58E4G8?L:EBHA787HF<A:G;8CEB
G86G<BAJ<E8G;86BAA86G<BA@HFG584F7<E86G4FCBFF<
5?8HF<A:4J<E84G?84FG4F?4E:84FG;8J8?7<A:6HEE8AG
E8GHEAJ<E84A76BAA86G87GBG;8JBE>C<8684GG;8F4@8
CB<AG4FG;8E8GHEAJ<E8HF<A:G;8E8GHEAJ<E86?4@CBE4
F86BA7:EBHA7<A:6?4@CC?4687A8KGGB<G
??CE864HG<BAF@HFG58G4>8AGB4IB<7FGE4LJ8?7<A:6HE
E8AGF
-HEAG;8@46;<A8BAHF<A:G;8FJ<G6;
+8@BI8G;8G4C8E87:4FG<C 5LGHEA<A:<G6?B6>J<F8
.AF6E8JG;86BAG46GG<C
=<=B>@3AAB63B=@16B@7553@C<B7:G=C6/D3@3/2B63
7<AB@C1B7=<A1/@34C::G
"G <F <@CBEG4AG GB @4>8 FHE8 G;8 @46;<A8 <F GHEA87 B99
J;8A8I8E6;4A:<A:G;8J<E8E88?4A7J<E8EB??8EGBCE8
I8AGG;8J<E89887@BGBE9EB@FG4EG<A:466<78AG4??L
)E8FFG;8GBE6;GE<::8E  4A7 E8?84F8 <G BA?L J;8A G;8
J8?7<A:J<E86B@8FBHG
+3:27<5E7@31/<1/CA3>C<1BC@3E=C<2A
'8I8E4<@G;8GBE6;4GC4EGFB9G;85B7LBG;8EC8BC?8BE
@8G4?FJ;8A?B47<A:G;8J8?7<A:J<E8
,6E8JG;86BAG46GG<C 546>BA@4><A:FHE8G;4GG;8
;B?87<4@8G8E6BEE8FCBA7FGBG;8J<E8HF87
,?<78G;8G4C8E87:4FJ8?7<A:G<C BA4?J4LFGHEA<A:
6?B6>J<F8
#""("('#'
S -;8 :4F 6L?<A78E @HFG 58 8DH<CC87 J<G; 4 CE8FFHE8
E87H68E4A79?BJ@8G8E
S "9 G;8 6L?<A78E <F C?4687BA G;86L?<A78E ;B?78E B9 G;8
@46;<A8<G@HFG58;8?7<AC?4685LG;86;4<ACEBI<787
4A758B94A4CCEBCE<4G8F<M8GB4IB<7=8BC4E7<M<A:G;8
FG45<?<GLB9G;8@46;<A8
SBAA86GG;8:4F;BF8?84I<A:G;8546>B9G;8@46;<A8
GBG;8CE8FFHE8E87H68EBA?L49G8EG;86L?<A78E<F<AC?468
S(C8AG;8:4F6L?<A78E4A7F8GG;89?BJ@8G8EGB4CCEBK
<@4G8?L?G@<A
.-"('&4>8FHE8G;8:4FHF87<F6B@C4G<5?8J<G;G;8
@4G8E<4?GB58J8?787
"& "#('
89BE8HF<A:G;<FJ8?7<A:@46;<A864E89H??LE847G;8E8:
H?4G<BAF""%?FB@4>8FHE8G;4G
G;8<AFH?4G<BABA645?8FGBE6;4A784EG;645?8<F<AG46G
+ "
+ "! '(
 +7B65/A>@=B31B7=<
<G;8E+ ('(BE(@4L58
HF879BEJ8?7<A:@<?7FG88?
BAA86GG;8645?8F4FF;BJA<AG;89<:HE8
,8?86GG;8J8?7<A:6HEE8AG5L@84AFB9G;8EBG4ELFJ<G6;?
&BI8G;8GBE6;A84EG;8J8?7<A:CB<AG4A7CE8FFG;8GE<:
:8E
7=HFGG;8CBG8AG<B@8G8E?>AB5 HAG<?G;8J8?7<A:<F7BA8
J<G;46BAFG4AG6BAG<AHBHFAB<F8
"9G;8FC887<FGBB94FGG;8J<E8G8A7FGBFG<6>GBG;8C<868
4A764HF8G;8GBE6;GBF><C<9G;8FC887<FGBB?BJG;8
J<E8@8?GF<AFC46877EBCFBEG;84E67B8FABGE8@4<A?<G
0;8ALBH;4I89<A<F;87J8?7<A:GHEAB99G;8@46;<A84A7
6?BF8G;8:4F6L?<A78E
BEG;86BEE86GJ8?7<A:4A:?8F889<:HE8
 +7B6=CB5/A>@=B31B7=<
BAA86GG;8645?8F4FF;BJA<AG;89<:HE8
.F8BA?L7<4@9?HK6BE87J<E8G;4G6B@C?<8FJ<G;G;8
FG4A74E70,,-""BE- ,FH<G45?89BEHF8
J<G;BHG:4F8BHFCEBG86G<BA
BAA86GG;884EG;645?86?4@CGBG;8JBE>C<868
9G8E6BAA86G<A:G;8645?8F9B??BJG;8<AFGEH6G<BAF:<I8A
<AC4E4:E4C;
'(- BE 6B@C46G J8??CEBG86G87J8?7F 4?J4LF JBE>
9EB@?89GGBE<:;G4A79EB@GBCGB5BGGB@
+8@BI84??J4FG849G8E846;J8?7<A:BC8E4G<BA
BEG;86BEE86GJ8?7<A:4A:?8F889<:HE8
+ " )!")!
-;8 J8?7<A: @46;<A8 @HFG 58 CE8C4E87 4F 9BE J8?7<A:
@<?7FG88?J<G;:4FCEBG86G<BA5HGJ<G;G;89B??BJ<A:7<9
98E8A68F
+ ('4FG;8CEBG86G<BA:4F9BEJ8?7<A:
J<E8;4I<A:46B@CBF<G<BAFH<G87GBG;854F8@4G8E<4?
GB58J8?787
UBEJ8?7<A:%%.&'„F<?<6BAJ<E8
UBEJ8?7<A:'-"(+(%„F<?<6BAJ<E8
UBEJ8?7<A:)+%.&'@4:A8F<H@J<E8
UBEJ8?7<A:+ %@4:A8F<H@J<E8
.F8 :E<A7<A: J;88?F 4A7 5EHF;8F FC86<9<64??L 78F<:A87
9BE4?H@<A<H@4A7A8I8EHF8G;8@BABG;8E@4G8E<4?F
+&&+G;4G6?84A?<A8FF<FDH4?<GL
-;8J<E8E88?F@HFG58FGBE87<AAL?BA54:FJ<G;78;H
@<7<9L<A:C46>8GF
BEG;86BEE86GJ8?7<A:4A:?8F889<:HE8
+ "'(" '''(
-;8 J8?7<A: @46;<A8 @HFG 58 CE8C4E87 4F 9BE J8?7<A:
@<?7FG88?J<G;:4FCEBG86G<BA5HGJ<G;G;89B??BJ<A:7<9
98E8A68F
U+88?B9FG4<A?8FFFG88?J<E86B@C4G<5?8J<G;G;86B@
CBF<G<BAB9G;8@4G8E<4?GB58J8?787
U L?<A78E 6BAG4<A<A:  + ('    E86B@
@8A7876B@CBF<G<BA
-;8E86B@@8A787GBE6;4A:?84A7J8?7<A:7<E86G<BA4E8
F;BJA<A9<:HE8
!"("""'
"& "#('
S -HEA B99 G;8 J8?7<A: @46;<A8 4A7 HAC?H: G;8 CBJ8E
6BE79EB@G;8FB6>8G589BE8846;6;86><A:4A7@4<AG8
A4A68BC8E4G<BA
S&BI<A:C4EGF64A64HF8F8E<BHF?8F<BAF
S$88C4J4L9EB@@BI<A:C4EGF
S"'','-,.+,64A64HF8F8E<BHF5HEAF
S%8GG;8HA<G6BB?589BE8F8EI<6<A:
S)8E<B7<64??LE8@BI84AL7HFGBE9BE8<:A@4GG8EG;4G@4L
;4I878CBF<G87BAG;8GE4AF9BE@8EBE 7<B78FGB7BFB
HF84=8GB96?84A7EL4<E
S0;8AE8C?46<A:G;8J<E8EB??8E@4>8FHE8G;8:EBBI8<F
4?<:A87J<G;G;8J<E84A76BEE8FCBA7FGBG;87<4@8G8EB9
G;8J<E8HF87
S?J4LF>88CG;8<AG8E<BEB9G;8:4FABMM?86?84AGB4IB<7
@8G4?5E<7:8F6E84G875LJ8?7<A:7EBFF58GJ88AG;8:4F
ABMM?84A7G;86BAG46GG<C&4>8FHE8G;8BHG?8G;B?8B9
G;8 6BAG46G G<C ;4F ABG 8KC4A787 8K68FF<I8?L <9 FB
<:
<:
<:

'(&%"
-;8J8?
7<A:
@46;<A8
FHCC?<8F
?<@<G876HE
E8AG
08?7<A:
J<G;4?BG
B9@8G4?
FC4GG8E
-;8J<E8
=4@FBE
8AG4A:?8F
58GJ88A
G;87E<I8
EB??F4A7
G;8GBE6;
<A9887J<E8
:H<78
'BJ<E8
9887BE
<EE8:H?4E
J<E89887
)BEBF<GL<A
G;8J8?
7<A:F84@
)+("%.,
%<A89HF85?BJA
HEAGBHG7<B78BE7<B78F
HEAGBHG8?86GEBA<65B4E7
%BBF8A87GBE6;BE84EG;6BA
A86G<BAFBE4ALBG;8E8?86GE<64?
CBJ8E6BAA86G<BAF
/B?G4:847=HFG@8AGFJ<G6;;4F4
?BBF86BAG46G
"@CEBC8E47=HFG@8AGB9J8?7<A:
C4E4@8G8EF
"AFH99<6<8AG:EBHA7<A:
BAG46GG<CJ<G;JEBA:7<4@8G8E
&<F4?<:A@8AGB9G;87E<I8EB??
:EBBI8
(5FGEH6G87BE6?B::87?<A8E
E<I8EB??J<G;GBB?4E:84:EBBI8
(5FGEH6G87BE6?B::87?<A8E
0<E8;B?7<A:EB??8EABG6B@C?8
G8?LG<:;G8A87
?B::876BAG46GG<C
"AFH99<6<8AGF;<8?7<A::4F
K68FFBK<74G<BAB9G;887:8F
GB58J8?787
4FABMM?8C4EG<4??LBE6B@C?8
G8?L6?B::875LFC4GG8E
+"&"(
+8C?468?<A89HF8
+8C?468
+8C?468
-<:;G8A4??6BAA86G<BAF
+8C?468G;8FJ<G6;
,8?86GG;86BEE86GC4E4@8G8EF
G;EBH:;G;8J8?7<A:IB?G4:8
FJ<G6;4A7G;8J<E8FC887
47=HFG@8AGCBG8AG<B@8G8E
;86>:EBHA7<A:6BAA86G<BAF
+8C?468
+84?<:A
+8@BI84A76?84A
+8C?468G;87E<I8EB??
+8@BI84A76?84A
-<:;G8A4??G;8J4L
+8C?468
"A6E84F8:4F78?<I8EL
-;BEBH:;?L6?84AG;887:8F
J<G;4@8G4?5EHF;
+8@BI84A76?84ABEE8C?468
58<A:64E89H?ABGGB6?B:G;8:4F
BHG?8GF
E8C?468
S,GE<6G?L4IB<7FGE<><A: G;8 GBE6;BE4??BJ<A:<G GB FH998E
I<B?8AG<@C46G
!"(""
<G;/7<B3</<13=>3@/B7=<;CAB031/@@732=CB0G?C/
:74732>3@A=<<3:7<1=;>:7/<13E7B6AB/<2/@2

"&(#&!"(""
"A G;8 64F8 B9 @4<AG8A4A68 <AF<78 G;8 @46;<A8 @4>8
FHE8 G;4G G;8 FJ<G6; <F <A CBF<G<BA ( /<2 B6/B B63
>=E3@1=@27A27A1=<<31B324@=;B63;/7<A
"G<F4?FBA868FF4ELGBC8E<B7<64??L6?84AG;8<AG8E<BEB9G;8
@46;<A8 9EB@ G;8 466H@H?4G87 @8G4? 7HFG HF<A: 6B@
CE8FF874<E
 $&)(#"'(&&$&'
9G8E@4><A:E8C4<EFG4>864E8GBBE:4A<M8G;8J<E<A:FBG;4G
G;8E8<FF86HE8<AFH?4G<BA58GJ88AG;8CE<@4EL4A7F86BA
74ELF<78FB9G;8@46;<A8BABG4??BJG;8J<E8FGB6B@8
<AGB6BAG46GJ<G;@BI<A:C4EGFBEG;BF8G;4G;84GHC7HE<A:
BC8E4G<BA+84FF8@5?84??6?4@CF4FG;8LJ8E8BAG;8BE<:<
A4? @46;<A8 GB CE8I8AG 4 6BAA86G<BA 9EB@ B66HEE<A:
58GJ88AG;8CE<@4EL4A7F86BA74EL6<E6H<GFF;BH?74J<E8
466<78AG4??L5E84>BE587<F6BAA86G87
?FB@BHAGG;8F6E8JFJ<G;:84E87J4F;8EF4FBAG;8BE<
:<A4?@46;<A8
BE<:<A4?@46;<A8GBCE8I8AG46BAA86G<BA9EB@B66HEE<A:
58GJ88AG;8CE<@4EL4A7F86BA74ELF<78<946BA7H6GBE
466<78AG4??L5E84>FBE7<F6BAA86GF
(&#) '##(")


+( /(+ + "'-+"'!& , +_-,
' "'!%- + /(+%" '' -+",'%"
-.' .&+$,& .+!%,' " -+",
'%"-.' &.m l+ " ,&- %',.+
, +_-, ' "'& %%' "'-+,,"+-'
)+,(''$''-'(+-.0!+-0+'
",,+_-+.,,!%"m%"!3.+.,l!+
.' /(',!0"m+"-'/+0'-0+'
'&('*#&'&("
, %"!-( ',!0"m' .'
,!'"'$''l+,".''+
,.'!"-,,!_%"! ,"' 74;8E
@Hm 78E 8AHGM8E ‰58E 7<8 A46;FG8;8A7 >HEM 74E:8?8:G8A
894;E8A58<@,6;J8<m8AHAG8EE<6;G8GJ8E78A‰E4HF9‰;E?<
6;8E8"A9BE@4G<BA8A74F!4A75H6;'E4A9BE78EA
%_+&
<8F8F8ErG8EM8H:GF8?5FG>8<A8 8ErHF6;87<8
7 ‰58EF6;E8<G8A 8<@ )?4F@4F6;A8<7 HA7
)?4F@4F6;J8<mCEBM8m >4AA 8F MH 8<A8E
8ErHF6;8AGJ<6>?HA:>B@@8A7<87<8F8A08EG‰58EF6;E8<
G8G4;8E@‰FF8A7<88AHGM8E7<8:8F8GM?<6;IBE:8F6;E<8
58A8A/BEF<6;GF@4mA4;@8AGE8998A
%$-+(& '-",! %+  ,6;r7?<6; >ƒAA8A
F8<A
Y8E8?8>GE<F6;8,GEB@78E7HE6;8<A8A58?<85<
:8A %8<G8E 9?<8mG 8EM8H:G 8?8>GEB@4:A8G<F6;8
8?78E&8E,6;J8<mB78E,6;A8<7FGEB@
8EM8H:G 8?8>GEB@4:A8G<F6;8 8?78E H@ 7<8
$458?HA77<8,GEB@DH8??8A
S <8 7HE6; :EBm8 ,GEƒ@8 8EM8H:G8A @4:A8G<F6;8A 8?78E
>ƒAA8A 78A 8GE<85 IBA !8EMF6;E<GG@46;8EA FGƒE8A -Er:8E
IBA ?858AFJ<6;G<:8A 8?8>GEBA<F6;8A 8ErG8A
!8EMF6;E<GG@46;8E@‰FF8A74;8E<;E8AEMG589E4:8A58IBE
F<8 F<6; <A 7<8 'r;8 IBA %<6;G5B:8AF6;J8<m ,6;A8<7
E8AACHGMB78E)HA>GF6;J8<mCEBM8FF8A58:858A
S <8 HFF8GMHA: 4A 7<8 58<@ ,6;J8<m8A B78E ,6;A8<78A
8EM8H:G8A 8?8>GEB@4:A8G<F6;8A 8?78E >4AA 5<F?4A: HA58
>4AAG8HFJ<E>HA:8A4H97<8 8FHA7;8<G;458A
.@7<8+<F<>8A7HE6;7<8HFF8GMHA:4A8?8>GEB@4:A8G<F6;8
8?78EMH@<A78EA@‰FF8AF<6;4??8,6;J8<m8E"AA8A4A7<8
9B?:8A78A/8E94;E8AFJ8<F8A;4?G8A
,<6;8EFG8??8A74FF74F&4FF8>458?HA774F$458?
78E?8>GEB78AM4A:8B78E78FE8AA8EFA858A8<A4A
78E5?8<58A<8$458?A46;&ƒ:?<6;>8<G@<G8<A8@
$?85854A74A8<A4A78E5898FG<:8A
4F&4FF8>458?HA774F$458?78E
?8>GEB78AM4A:8B78E78FE8AA8EFA<6;GH@78A
$ƒEC8EJ<6>8?A
,<6;A<6;GMJ<F6;8A74F&4FF8>458?HA774F$458?
78E?8>GEB78AM4A:8B78E78FE8AA8EFFG8??8A
08AAF<6;74F&4FF8>458?E86;GFIB@,6;J8<m8E
5MJ78E,6;J8<m8E<A589<A78G@HFFF<6;4H6;74F
$458?78E?8>GEB78AM4A:8B78E78FE8AA8EF4H9
7<8F8E,8<G8589<A78A
4F&4FF8>458?FBA4;8J<8@ƒ:?<6;4A78E
,6;J8<mB78E,6;A8<7FG8??84A74F08E>FG‰6>
4AF6;?<8m8A
'<6;G<A78E'r;878E,GEB@DH8??84E58<G8A
1)%(,"(', !+
Y$8<A8,6;A8<7,6;J8<m4E58<G8A<A78E'r;8IBA
EH6>58;r?G8EAB78E<A.@:85HA:8A4HF9‰;E8A7<8
8KC?BF<I8A,G4H5 4FB78Er@C988AG;4?G8A<8
9‰E 78A ,6;J8<m,6;A8<CEBM8mI8EJ8A78G8A 4F9?4F6;8A
HA7EH6>E8:?8EFBE:F4@58;4A78?A
%$-+(& '-",!/+-+_ %"!$"-
<8F8F 8ErGJHE78<Al58E8<AFG<@@HA:@<G78AA:458A78E
;4E@BA<F<8EG8A'BE@"?9=<AB@C73@BC<2
2/@4/CAA16:73X:716HC53E3@0:7163<.E3193<C<2<C@7<
7<2CAB@73::3<@037BAC;530C<53<D3@E3<23BE3@23<A
7AB<];:716C<B3@);AB]<23<;7B'16E73@75937B3<D3@0C<
23<7AB2733:39B@=;/5<3B7A163*3@B@]5:716937B23A3@]BA
7</<23@3</:A7<2CAB@73::3<);530C<53<HC53E]6@:37A
B3<
'-,(+ .' + %$-+( .'
%$-+('"$ +_-
?8>GEB:8ErG8 7‰E98A A<8@4?F :8@8<AF4@ @<G
:8Jƒ;A?<6;8A59r??8A8AGFBE:GJ8E78A"Al58E
8<AFG<@@HA:@<G78EHEBCr<F6;8A+<6;G?<A<8
‰58E?8>GEBHA7?8>GEBA<>?G:8ErG8HA778E=8J8<?<:8A
.@F8GMHA:<AA4G<BA4?8F+86;GF<A7A<6;G@8;EI8EJ8A
78G8 ?8>GEB:8ErG8 :8FBA78EG MH F4@@8?A HA7 8<A8E
A?4:8 9‰E H@J8?G:8E86;G8F +86L6?<A: MHMH9‰;E8A ?F
<:8AG‰@8E78E 8ErG8@‰FF8A,<8F<6;58<HAF8E8@ƒEG
?<6;8A /8EGE8G8E ‰58E 7<8 MH:8?4FF8A8A
,4@@?HA:FFLFG8@8 <A9BE@<8E8A <8 .@F8GMHA:
:8A4AAG8E HEBCr<F6;8E +<6;G?<A<8 J<E7 .@J8?G HA7
@8AF6;?<6;8E 8FHA7;8<GMH:HG8>B@@8A
"&%%/('!%.'$-"(''&.m&',"!'
"''!&''0''
+&""+''
<8 'H@@8E<8EHA: 78E 8F6;E8<5HA:8A 8AGFCE<6;G 78E
'H@@8E<8EHA:78E8?78E78F,6;<?7F
 <8 E4;G9ƒE78EEB??8A >ƒAA8A /8E?8GMHA:8A 4A 78A
!rA78AI8EHEF46;8A
 8E,6;J8<m7E4;GHA774FE4;GIBEF6;H5:8ErGFG8;8A
Jr;E8A778F,6;J8<m8AFHAG8E,C4AAHA:<8!rA78
HA7&8G4??:8:8AFGrA7898EA;4?G8A
 /BA78E,6;J8<m8?8>GEB78B78EIB@$458?I8EHEF46;G8
,GEB@F6;?r:8>ƒAA8AGƒ7?<6;F8<A‰E8<A8A4A:8@8F
F8A8A,6;HGM:8:8A,GEB@F6;?r:8,BE:8GE4:8A
"FB?<8E;4A7F6;H;8 GE4:8A <8 ?8>GEB78 A<8@4?F @<G
5?Bm8A !rA78A 58E‰;E8A $8<A8F94??F 98H6;G8 B78E
F6;47;49G8,6;HGM;4A7F6;H;8I8EJ8A78A
,<6;8EFG8??8A 74FF8<A8 4A:8@8FF8A8 "FB?<8EHA: IB@
08E>FG‰6>HA7IB@B78A:8Jr;E?8<FG8G<FG
/BE E58<G8A 4A 78E &4F6;<A8 78A ,G86>8E <;E8F
'8GM>458?F45M<8;8A
 4F <A4G@8A 78E 58<@ ,6;J8<m8A 8AGFG8;8A78A
r@C98>4AA:8FHA7;8<GFF6;r7?<6;F8<A
8A$BC9IBA78Ar@C98A98EA;4?G8A
3H@59‰;E8A78Er@C988<A8?B>4?83J4A:F?‰9GHA:F
B78E5F4H:4A?4:8I8EJ8A78A
3H@8F8<G<:8A78Er@C988<A8A,4H:?‰9G8EI8EJ8A
78A
 5"

 <8 58<@ ,6;J8<m8A 8AGFG8;8A78A HA>8A >ƒAA8A
KC?BF<BA8AB78EErA784HF?ƒF8A
 $8<A8 8AG9?4@@54E8A &4G8E<4?<8A <@ ,6;J8<m58E8<6;
4H958J4;E8A
 <8 58<@ ,6;J8<m8A 8AGFG8;8A78A HA>8A >ƒAA8A
ErA784HF?ƒF8A<A8A8H8E?ƒF6;8E<A78EHA@<GG8?54
E8A 'r;8 58E8<G ;4?G8A HA7 F<6;8EFG8??8A 74FF 8<A8
)8EFBA4AJ8F8A7 <FG7<8<;AABG94??FFB9BEG 8<AF8GM8A
>4AA
 '<8@4?F,6;J8<m4E58<G8A4A:8F6;?BFF8A8A8;r?G8EA
4HF9‰;E8A
 <8,GE4;?HA:78F%<6;G5B:8AF>4AA/8E5E8AAHA:8A4A
H:8AHA7!4HGI8EHEF46;8A
 ,6;HGM;8?@HA7,6;HGM5E<??8GE4:8A<A8A:88<:A8G8A
8;ƒEF6;HGMGE4:8A HA7 58< !8@78A 78A $E4:8A
MH>AƒC98A<A8A,6;J8<m8EF6;HGM;8?@@<G8<A8@<?G8E
@<G 78E :88<:A8G8A -ƒAHA: GE4:8A <A8A >B@C?8GG8A
$ƒEC8EF6;HGMGE4:8A
 /BE 78E HF9‰;EHA: IBA E58<G8A 4A B78E @<G 78E
&4F6;<A87<88GE<85F4A?8<GHA:?8F8A
 <8 04EA;<AJ8<FF6;<?78E A<6;G 45786>8A B78E 8AG98E
A8A
 !"'&)"
("'""
4FIBE?<8:8A78!4A75H6;7<8AG78E.AG8EJ8<FHA:78F
9‰E 7<8 "AFG4??4G<BA 78A 8GE<85 HA7 7<8 04EGHA: 78E
,6;J8<m@4F6;<A8MHFGrA7<:8A)8EFBA4?F
8< 7<8F8@ 8ErG ;4A78?G 8F F<6; H@ 8<A8
$BAFG4AGFC4AAHA:F,6;J8<mFGEB@DH8??8 9‰E &" & 
HA7()'+,6;J8<mI8E94;E8A
8<@@C94A: F<6;8EFG8??8A74m >8<A8 -8<?8 :85EB6;8A
B78E58F6;r7<:GF<A7
3@ ]C43@ ;CX 3/<AB/<2C<53< E353< 436:3<23@
=23@03A16]275B3@(37:3/<23<@/16B4n6@3@@716B3<
37 <4@/53< HC@ '16E37X;/A167<3 AB3BA 273
@B793:<C;;3@C<2273'3@73<<C;;3@/<5303<
)'( )"
<8&4F6;<A84HF78E/8EC46>HA:A8;@8AHA74A8<A8@
4HFE8<6;8A758?‰9G8G8A@ƒ:?<6;FGFG4H59E8<8A(EG4H9FG8?
?8A4E4H946;G8A74m7<8%H9G8<AGE<GGFHA74HFGE<GGFƒ99
AHA:8A9‰E7<8$‰;?HA:A<6;GI8E786>GJ8E78A
!-.' "'.'3.+"!'+%.-,-+(&9‰;EG
MHEl58E;<GMHA:HA7@ƒ:?<6;8EJ8<F8MH,6;r78A4A78A
<AG8EA8A4H:EHCC8A78E&4F6;<A8
.@7<8&4F6;<A88<A8A9E8<8A+4H@IBA@<A78FG8AF
@@E8<G8?4FF8A
$8<A8E?8< <?G8EIBEE<6;GHA: IBE 78A %H9G8<AGE<GGFƒ99AHA:8A
7<8F8E,6;J8<m@4F6;<A84A5E<A:8A
<8 4E4AG<8 8E?<F6;G J8AA <E:8A78<A8 <?G8EIBEE<6;GHA:
4A78E&4F6;<A84A:85E46;GJ<E7
<8@<G:8?<898EG8A-8<?8?G55<?7HA:4A54H8A
&L('&)"
 '16/:B3@
3H@"'HA7.,,6;4?G8A78E&4F6;<A8HA7MH@
<AFG8??8A78F,6;J8<mFC4AAHA:F58E8<6;F
 &35:3@
3H@<AFG8??8A78EE4;GIBEF6;H5:8F6;J<A7<:>8<G
 +3@9ABn19:37BC<5
 3:03 
<8F8%?8H6;G8G4H9J8AA78E-;8E@BFG4G78A
,6;J8<mIBE:4A:HAG8E5E<6;G
 @n<3 
<8F8% M8<:G 4A74m 7<8 &4F6;<A88<A:8F6;4?G8G
<FG
 '16:/C16>/93B
@744
8E E<9974E9A<6;GMH@A;858A78E&4F6;<A8I8E
J8A78GJ8E78A
55

 !"'&)"
'$.(#""
<8F8 ,6;J8<m@4F6;<A8 :8FG4GG8G 74F ,6;J8<m8A IBA
J8<6;8@HA7EBFG9E8<8@,G4;?HA7IBA?H@<A<H@
& L)(&)"&("'"("
<8$BAFGEH>G<BA78E,6;J8<m@4F6;<A8<FG>BA9BE@@<G7<8
F8E<AG8EA4G<BA4?8A'BE@'"?
""
'X ,8E<8AAH@@8E7<858<4??8AA9E4:8A<A
3HF4@@8A;4A:@<G78E&4F6;<A84A:8:8
58AJ8E78A@Hm
-E4AF9BE@4GBE ?8<6;E<6;G8E8<AC;4F<:
_Hm8E8<:8AF6;49G78E&4F6;<A8
.B ,8>HA7rE?88E?4H9FC4AAHA:,C<GM8AJ8EG
1 <8<AF6;4?G74H8E4HF:87E‰6>G<A)EBM8AG
58MB:8A4H9&<AHG8A<FG7<838<G‰58E
7<87<8&4F6;<A8@<G8<A8@98FG:8?8:G8A
,6;J8<mFGEB@58GE<858AJ8E78A>4AAB;A8
74m8FMH8<A8El58E;<GMHA:>B@@G
8<FC<8?158<"
4F;8<mG
74m7<8 &4F6;<A8@<G8<A8@,6;J8<m
FGEB@"
<AA8E;4?578F38<GE4H@FIBA
&<AHG8A9‰E7<8 4H8EIBA&<AHG8A
7;F6;J8<m8A>4AA
"
,6;J8<mFGEB@
.
,8>HA7rEFC4AAHA:58<,6;J8<mFGEB@"
.
'8AAI8EFBE:HA:FFC4AAHA:
!M <AC;4F8AI8EFBE:HA:!M
"@4K <8F<FG78E!ƒ6;FGJ8EG78E,GEB@4H9A4;@8
"899 <8F<FG78E!ƒ6;FGJ8EG78E8998>G<I8A
,GEB@4H9A4;@8 58< 8E‰6>F<6;G<:HA: 78E
E8?4G<I8A<AF6;4?G74H8E
"), ,6;HGM4EG78F8;rHF8F
<8MJ8<G83<998E :<5G4A74FF7<8F8F 8ErG58<
'<878EF6;?r:8AMJ4E<@E8<8A:8?4:8EG=87B6;
A<6;GB;A8:88<:A8G8A,6;HGM58GE<858AJ8E78A
74E9
3H@8GE<85<A+rH@8A@<G8E;ƒ;G8@+<F<>B
MH:8?4FF8A
A@8E>HA:74F 8ErGJHE789‰E78A8GE<85<A+rH@8A
@<G/8EHAE8<A<:HA:F:E47:8C?4AGF<8;8"
'&)"&')(."&()""
<8F8F 8ErGJ<E77HE6;8<A8A-;8E@BFG4G@<G,6;?<8FF8E
:8F6;‰GMG78E4H978@%8<FGHA:FGE4AF9BE@4GBE4A:8BE7
A8G<FG
08AA78E-;8E@BFG4G4AFCE<6;GHAG8E5E<6;G7<8&4F6;<A8
78A,6;J8<mIBE:4A:78E/8AG<?4GBE4E58<G8G=87B6;J8<
G8E;<AHA77<8:8?58%?8H6;G8G4H9
'46;78@AFCE86;8A78F-;8E@BFG4G8A8<A<:8&<AHG8A
45J4EG8A74@<G7<8&4F6;<A845>‰;?8A>4AA
"'( (#"
<8&4F6;<A8@HmIB@46;@4AA<AFG4??<8EGJ8E78A??8
AF6;?‰FF8F<A7<Al58E8<AFG<@@HA:@<G78A:8?G8A78A
/BEF6;E<9G8A HA7 HAG8E FGE8A:FG8E 846;GHA: 78E
.A94??I8E;‰GHA:FIBEF6;E<9G8AF<8;8'BE@""
%4HFMH9‰;E8A
,<6;8EFG8??8A 74m 78E E4;G7HE6;@8FF8E 78@ 4H9 78E
+B??8 4A:8:858A8A HE6;@8FF8E 8AGFCE<6;G 4AF6;?<8
m8A7 7<8 E4;GFCH?8 @BAG<8E8A ,<6;8EFG8??8A 74m 78E
E4;G<A78E+<??878E+B??8 ?rH9G
/BE 78@ AF6;?<8m8A 78F '8GM>458?F  F<6;8EFG8??8A
74m 7<8 '8GMFC4AAHA: @<G 78E '8AAFC4AAHA: 78E
,6;J8<m@4F6;<A8‰58E8<AFG<@@G
AF6;?<8m8A79B?:8A78E@4m8AIBE:8;8A
4 J<E77<8&4F6;<A898FG4A74F'8GM4A:8F6;?BFF8A
7;B;A8,G86>8E@Hm8<A!4HCGF6;4?G8EMJ<
F6;8A:8F6;4?G8GJ8E78A78FF8A'8AAFGEB@@<G78A
A:458A 4H9 78@ %8<FGHA:FF6;<?7 78E &4F6;<A8
‰58E8<AFG<@@G
5 J<E77<8&4F6;<A8@<G8<A8@,G86>8E4A74F'8GM
4A:8F6;?BFF8A8<A8A,G86>8EI8EJ8A78A78FF8A
'8AAFGEB@@<G78AA:458A4H978@%8<FGHA:FF6;<?7
78E&4F6;<A8‰58E8<AFG<@@G"A7<8F8@4??@Hm78E
,G86>8E74MHI8EJ8A78G7<8&4F6;<A84??CB?<:IB@
'8GMMHGE8AA8AA46;78@MHIBE78E,6;4?G8E 4H9
O#Q:8F6;4?G8GJHE78
8E:8?5:E‰A8%8<G8E@Hm4A7<8E7HA:F>?8@@84A:8
F6;?BFF8AJ8E78A<808E>FG‰6>>?8@@8 @<G78@MH
F6;J8<m8A78A08E>FG‰6>I8E5<A78A
8E,6;J8<mFGEB@>E8<F74E9A<6;G45F<6;G?<6;<A7<E8>G8A
B78E <A7<E8>G8A $BAG4>G @<G 78@ ,6;HGM?8<G8E :8E4G8A
FB98EA7<8FA<6;G‰58E74F08E>FG‰6>F8?5FG:8F6;<8;G
08AA 74F 08E>FG‰6> 45F<6;G?<6; ‰58E 78A ,6;HGM?8<G8E
@<G78EE78I8E5HA78AJ<E7@Hm7<8F8/8E5<A7HA:FB
7<E8>GJ<8@ƒ:?<6;:8FG4?G8GJ8E78A8E;<8EMHI8EJ8A
78G8 %8<G8E @Hm 8<A8A *H8EF6;A<GG 4H9J8<F8A 78E @<A
78FG8AF:?8<6;78@*H8EF6;A<GG78E+‰6>?8<GHA:<FGHA7
'
55

4A78E:?8<6;8A,G8??84A74F08E>FG‰6>4A:8F6;?BFF8A
J8E78A J<8 7<8 +‰6>?8<GHA: !<8EMH 8AGJ878E 7<8
+‰6>?8<GHA:F>?8@@8 B78E 8<A8 HA@<GG8?54E 74A858A
4A:8BE7A8G8MJ8<G808E>FG‰6>>?8@@8I8EJ8A78A
F <FG =878 /BEF<6;GF@4mA4;@8 MH 8E:E8<98A H@ I4:4
5HA7<8E8A78,6;J8<mFGEƒ@8MHI8E@8<78A
<8&4F6;<A8@<G78@,6;4?G8E 8<AF6;4?G8A
<8 >BA<F6;8 4F7‰F8  <@ .;EM8<:8EF<AA 7E8;8AH@
F<8;8E4HFMHM<8;8A
<8,GEB@7‰F8 45F6;E4H58A
*=@ 23; 3B]B753< 23A @3<<3@B/AB3@A 3@AB 273
3B@730A/<:37BC<5A=@54]:B75:3A3<
F<FGF8;EJ<6;G<:74m @4A IBE 78@ HFG4HF6;8A78E
E4;GFCH?8B78E78EE4;GIBEF6;H5EB??8F<6;8EFG8??G74m
7<8&4F6;<A8 4HF:8F6;4?G8G<FG 74@<G :8Jr;E?8<FG8G <FG
74m 78E E4;GIBEF6;H5@BGBE A<6;G HAIBE;8E:8F8;8A8E
J8<F84A?rH9G
8A E8AA8EG4FG8E 7E‰6>8A HA7 8EFG A46; 78@
HFGE8G8A78FE4;GF?ƒF8A
3@ '16E37X2@/6B 9/<< 'B716D3@:3BHC<53< D3@C@A/
163<
8AE8AA8E58< 78E&BAG4:8 78F ,6;J8<m7E4;GF A<6;G
:8:8A78A$ƒEC8E:8:8A4A78E8)8EFBA8AB78E&8G4??8
E<6;G8A
<8,GEB@7‰F8 J<878E98FGF6;E4H58AHA7F<6;8EFG8?
?8A 74m 78E %B6;7HE6;@8FF8E 78@ HE6;@8FF8E 78F
I8EJ8A78G8AE4;GF4A:8@8FF8A<FG
<8>BA<F6;8 4F7‰F8 7HE6;E8;8A<@.;EM8<:8EF<AA
J<878E8<A9‰;E8A
"' )''''' )'
S <8 4F9?4F6;8 @Hm @<G 8<A8@ EH6>@<A78E8E HA7
8<A8@HE6;9?Hm@8G8E4HF:8E‰FG8GJ8E78A
S08AA7<8 4F9?4F6;84H978E5FG8??9?r6;89‰E7<8
4F9?4F6;8 78E &4F6;<A8 4A:8BE7A8G J<E7 @Hm F<8
@<G 78E ;<8E9‰E IBE:8F8;8A8A $8GG8 5898FG<:G
J8E78A<8?4F6;8@HmFB 58@8FF8A F8<A 74m F<8 7<8
,G4A798FG<:>8<G78E&4F6;<A8A<6;G588<AGEr6;G<:G
S EFG A46;78@ 7<8 4F9?4F6;8 >BEE8>G 4A:8BE7A8G
JHE7878A4H978E+‰6>F8<G878E&4F6;<A84HFGE8G8A78A
4FF6;?4H6;4A78AEH6>@<A78E8E4AF6;?<8m8A
S<8 4F9?4F6;8ƒ99A8AHA778AHE6;9?Hm@8G8E4H964
5<F?@<A8<AFG8??8A
!-.' )E‰98AB574FI8EJ8A78G8 4F@<G78@MH
F6;J8<m8A78A08E>FGB99I8EGEr:?<6;<FG
 !""+'
/BE "A58GE<85A4;@8 78E ,6;J8<m@4F6;<A8 F<A7 7<8
'BE@8A""% 4H9@8E>F4@MH?8F8A
Hm8E78@ <FG F<6;8EMHFG8??8A 74m 7<8 $458?<FB?<8EHA:
74F,6;?4H6;C4>8GHA77<808E>FG‰6>?8<GHA:HAI8EF8;EG
F<A7
)'W&"&'+'')"
'+''"*#"+'(
 !7B'16CBH5/A
3H@ ,6;J8<m8A IBA J8<6;8@,G4;? >4AA @4A + ('
(5MJ(I8EJ8A78A
<8%8<GHA:8AJ<8<A78E55<?7HA::8M8<:G4AF6;?<8m8A
<8 ,6;J8<mFC4AAHA: @<G 78@ E8;>ABC9 78F
086;F8?F6;4?G8EF 8<AFG8??8A
8AE8AA8E4A7<8MHF6;J8<m8A78,G8??84AAr;8EAHA7
78AE8AA8EG4FG8E 7E‰6>8A
8AE8;>ABC978F)BG8AG<B@8G8EFFB8<AFG8??8A74m74F
58<@ ,6;J8<m8A 8AGFG8;8A78 8ErHF6; >BAFG4AG HA7
>BAG<AH<8E?<6;<FG
08AA 7<8 8F6;J<A7<:>8<G MH ;B6; <FG A8<:G 78E E4;G
74MH F<6; :8:8A 74F 08E>FG‰6> MH FG8@@8A <FG 7<8
8F6;J<A7<:>8<GMHA<87E<:F6;@8?MG78EE4;G<AHAE8
:8?@rm<:8A-EBC98AB78E78E%<6;G5B:8A8E?<F6;G
'46;78@,6;J8<m8A7<8&4F6;<A84HFF6;4?G8AHA774F
/8AG<?78E 4F9?4F6;8F6;?<8m8A
<8>BEE8>G8E8AA8EA8<:HA:<FG<A55<??HFGE<8EG
 #6<3'16CBH5/A
<8%8<GHA:8AJ<8<A78E55<?7HA::8M8<:G4AF6;?<8m8A
&4A74E9AHE‰??7E4;G@<G,88?8…I8EJ8A78A7<878E
'BE@0,,-?<5MJ- ,8AGFCE86;8AHA79‰E
78A<AF4GMB;A8,6;HGM:4F:88<:A8GF<A7
<8 $?8@@8 78E 08E>FG‰6>?8<GHA: @<G 78@ 08E>FG‰6>
I8E5<A78AAF6;?<8m8A77<8<A5F6;A<GG:8:858
A8AAJ8<FHA:8A589B?:8A
3HE 846;GHA: H@ 7HE6;:8;8A78 HA7 :HG :8F6;‰GMG8
,6;J8<mAr;G8 MH 8E;4?G8A FG8GF IBA ?<A>F A46; E86;GF
HA7IBAB58AA46;HAG8AF6;J8<m8A
'46;=878E,6;J8<mHA:7<8,6;?46>88AG98EA8A
<8>BEE8>G8E8AA8EA8<:HA:<FG<A55<??HFGE<8EG
55
55
'+''"*#" )!")!
<8 ,6;J8<m@4F6;<A8 @Hm J<8 9‰E 74F ,6;J8<m8A IBA
08<6;FG4;? HAG8E ,6;HGM:4F 8<A:8E<6;G8G J8E78A JB58<
4??8E7<A:F9B?:8A78.AG8EF6;<878MH5846;G8AF<A7
+ ('4?F,6;HGM:4FMH@,6;J8<m8A
<AE4;G4?F,6;J8<mMHF4GM@<G8<A8E78@MHF6;J8<
m8A78A08E>FGB998AGFCE86;8A78A3HF4@@8AF8GMHA:
U MH@ ,6;J8<m8A IBA %.&' E4;G @<G   
,<?<M<H@
UMH@,6;J8<m8AIBA'-"(+(%E4;G@<G
,<?<M<H@
U MH@ ,6;J8<m8A IBA )+%.&' E4;G @<G 
&4:A8F<H@
UMH@,6;J8<m8AIBA+ %E4;G@<G&4:A8F<H@
‰E?H@<A<H@FC8M<8??8,6;?8<9F6;8<58AHA7‰EFG8AI8E
J8A78A 7<8 A<8@4?F 9‰E 4A78E8 08E>FGB998 I8EJ8A78G
J8E78A
,--,+''$',4H58E>8<G<FG*H4?<GrG
<8 E4;GFCH?8A @‰FF8A <A 'L?BAFr6>8A @<G 8<A8@
AG98H6;GHA:F@<GG8?4H958J4;EGJ8E78A
<8>BEE8>G8E8AA8EA8<:HA:<FG<A55<??HFGE<8EG
'+''"*#"&#'(&!'(
<8 ,6;J8<m@4F6;<A8 @Hm J<8 9‰E 74F ,6;J8<m8A IBA
08<6;FG4;? HAG8E ,6;HGM:4F 8<A:8E<6;G8G J8E78A JB58<
4??8E7<A:F9B?:8A78.AG8EF6;<878MH5846;G8AF<A7
U ,CH?8 @<G E4;G 4HF EBFG9E8<8@ ,G4;? 78FF8A
<:8AF6;49G8A@<G78E3HF4@@8AF8GMHA:78FMHF6;J8<
m8A78A,G4;?FI8EGEr:?<6;F<A7
U 4F9?4F6;8@<G+ ('HA7(8@C9B;?8
A83HF4@@8AF8GMHA:
<8 8@C9B;?8A8 E8AA8EA8<:HA: HA7 7<8 ,6;J8<mE<6;
GHA:F<A7<A55<?7HA:4A:8:858A
+&()")"#"(&# "
<804EGHA:78E&4F6;<A8@HmIB@46;@4AA4HF:8
9‰;EGJ8E78A
 !""+'
S/BE8:<AA=8:?<6;8E$BAGEB??HA704EGHA:F4E58<G8A7<8
&4F6;<A8 4HFF6;4?G8A HA7 78A '8GMFG86>8E 4HF 78E
,G86>7BF8M<8;8A
S<858J8:?<6;8A&4F6;<A8A8?8@8AG8>ƒAA8AF6;J8E8
/8E?8GMHA:8AI8EHEF46;8A
S'<6;G<A7<8'r;878E58J8:?<6;8A&4F6;<A8A8?8@8AG8
>B@@8A
S %l!' (+%_!' >ƒAA8A F6;J8E8
/8E5E8AAHA:8AI8EHEF46;8A
S /BE 8:<AA 78E 04EGHA:F4E58<G8A 7<8 ;8<m8A -8<?8
45>‰;?8A?4FF8A
S+8:8?@rm<:,G4H5HA7E8@7>ƒEC8E8AG98EA8A7<8F<6;
@ƒ:?<6;8EJ8<F84H978@-E4AF9BE@4GBEB78E78A<B78A
45:8?4:8EG;458A!<8EMH8<A8A,GE4;?GEB6>8A8EHA7F4H
58E8E%H9GI8EJ8A78A
S 8<@ +‰6>54H 78E E4;GIBEF6;H5EB??874E4H9 46;G8A
74m 7<8 +<??8 @<G 78@ E4;G :89?H6;G8G <FG HA7 78@
E4;G7HE6;@8FF8E4A:8@8FF8A<FG
S4F"AA8E878E 4F7‰F8FG8GFF4H58E;4?G8A74@<GF<6;
>8<A8 @8G4??<F6;8A E‰6>8A 4HF ,6;J8<mFCE<GM8EA MJ<
F6;8A 4FHA7,GEB@7‰F85<?78A
S,<6;8EFG8??8A74m7<8HFGE<GGF5B;EHA:78E,GEB@7‰F8
A<6;G‰58E@rm<:I8E:Eƒm8EG<FG4A78EA94??F7<8‰F84HF
G4HF6;8A
S 8A E8AA8E HA587<A:G IBE ,6;?r:8A B78E ;4EG8A
,Gƒm8AF6;‰GM8A
+&()"
::3+/@BC<5A/@037B3<;nAA3<D=<37<3;/16;/<<
7<7<9:/<5;7B23@"=@;/CA
534n6@BE3@23<
+&()"&'(&#!%) 
‰E 04EGHA:F8<A:E<99<AA8E;4?5 78F 8ErGF F<6;8EFG8??8A
74FFF<6;78E,6;4?G8E <A78E,6;4?GFG8??HA:Q(R589<A
78GHA774FF2/A"3BH9/03:D=;'B@=;<3BH53B@3<<B
7AB
8EA8E @HFF @4A 78A &8G4??FG4H5 78E F<6; <@ 8ErG
4A:8F4@@8?G ;4G <A E8:8?@rm<:8A 38<G45FGrA78A @<G
EH6>?H9G8AG98EA8A
 '&('*#&&)"" " "!
&$&()&"&
'46; HF9‰;EHA: 8<A8E +8C4E4GHE 74E4H9 46;G8A 7<8
/8E7E4;GHA: J<878E FB 4AMHBE7A8A 74FF 8<A8 F<6;8E8
"FB?<8EHA: MJ<F6;8A )E<@rE HA7 ,8>HA7rEF8<G8 78F
8ErGF :8Jr;E?8<FG8G <FG ,<6;8EFG8??8A 74FF 7<8 Er;G8
A<6;G@<G58J8:?<6;8A-8<?8AB78E@<G-8<?8A7<8F<6;Jr;
E8A778F8GE<85F8EJrE@8A<A8E‰;EHA:>B@@8A>ƒA
A8A ??8 $458?5<A78E J<878E J<8 58<@ (E<:<A4?:8ErG
4A5E<A:8A 74@<G 8F A<6;G MH 8<A8@ ,6;?HFF MJ<F6;8A
)E<@rEHA7,8>HA7rE>E8<F>B@@8A>4AAJ8AAF<6;8<A
%8<G8E?ƒFGB78E5E<6;G
Hm8E78@ 7<8 ,6;E4H58A @<G 78A :8M4;AG8A
.AG8E?8:F6;8<58AJ<878EJ<858<@(E<:<A4?:8ErG4A5E<A:8A
55

,-i+.'
8:E8AMG8
,GEB@45:4
58
,6;J8<mHA
:@<GI<8?8A
&8G4??FCE<GM
8A
8EE4;G
E‰6>GA<6;G
B78EHAE8
:8?@rm<:
IBE
8EE4;G
>?8@@G
B78E>A<6>G
MJ<F6;8A
78AE4;G
IBEF6;H
5EB??8AHA7
78E
E4;G9‰;EH
A:FFC<E4
?84HF
)BE8A<A
78E
,6;J8<mA4
;G
&i %"!.+,!
'8GMF<6;8EHA:7HE6;:85E4AAG
<B785MJ<B78A7HE6;:8
5E4AAG
,G8H8EC?4G<A87HE6;:85E4AAG
?8>GE<F6;8%8<FGHA:F4A
F6;?‰FF878EE8AA8EB78E
08E>FG‰6>?8<GHA::8?ƒFG
046>8?>BAG4>G58<@
.@F6;4?G8E9‰E7<8
,C4AAHA:FE8:8?HA:
4?F6;8<AFG8??HA:78E
,6;J8<mC4E4@8G8E
.A:8A‰:8A78E7HA:
+<??878EE4;GIBEF6;H5EB??8MH
5E8<G
E4;G9‰;EHA:FFC<E4?8I8EFBC9G
,GEB@7‰F8I8EFGB9G
,GEB@7‰F8A7HE6;@8FF8E9?4F6;
<8+B??8AE<??8<FGA<6;GE<6;G<:
4HF:8E<6;G8G
E4;G9‰;EHA:FFC<E4?8I8EFGBC9G
.A:8A‰:8A78F,6;HGM:4F
,6;J8<m>4AG8AMHFG4E>BK<7<8EG
4F7‰F87HE6;,CE<GM8EG8<?J8<
F8B78EIƒ??<:I8EFGBC9G
!"%
,<6;8EHA:4HFJ86;F8?A
HFG4HF6;8A
HFG4HF6;8A
??8AF6;?‰m898FGM<8;8A
.@F6;4?G8E4HFG4HF6;8A
<AFG8??HA:8A@<G78A
)BG8AG<B@8G8EA9‰E7<8+8:8?HA:
78E,C4AAHA:HA778E
E4;G:8F6;J<A7<:>8<GIBEA8;
@8A
l58ECE‰98A
<8+B??84HFG4HF6;8A
!8E4HFM<8;8AHA7E8A<:8A
HFG4HF6;8A
HFJ86;F8?A
HFE<6;G8A
!8E4HFM<8;8AHA7E8<A<:8A
<8:4F7HE6;9?Hm@8A:88E;ƒ;8A
,BE:9r?G<:@<G8<A8EE4;G5‰EFG8
E8<A<:8A
HF54H8AHA7E8<A<:8A!<8E58<
74E4H946;G8A7<8:4F4HFGE<GG
F5B;EHA:8AA<6;GMHI8EFGBC98A
AFBAFG8A4HFG4HF6;8A
(&''(U&)""

!$#&("( /'- % &", ' &+!  %
&!"'%"+&'.%-% ++)''-
-(.- % /" ()d+-"(''%% ', .' '+("-
(''. )+ %, "d+'-, )+,('', "'-d
+,,d,--&!"''("-e-+.-"%",d*.
)(.+,()d+-"(',,(..+
$&P)(#"''P)&(P
%,(..+-%d(.)\%P+
)./'- e-+ '.","%, \ /(., -
.1 .-+, %PHG<?<F4G8HE 7B<G CBHEG4AG
6BAA4|GE8?8FE<FDH8FEwFH@wF6<78FFBHF?<wF4HKBCwE4
G<BAF 78 FBH7HE8 )BHE 78F <A9BE@4G<BAF C?HF 7wG4<??w8F
78@4A78E?8@4AH8?6B78
+."-
8GG8@46;<A8A8CEB7H<GC4F8??8@x@878F5EH<GF
FHCwE<8HEFn7%8CEB6w7w787w6BHC4:84H
C?4F@4FBH7HE8C8HGCEB7H<E878FA<I84HK785EH<G
FHCwE<8HEFn68GG8?<@<G8?8FHG<?<F4G8HEF78IEBAG7BA6@8GG8
8AB8HIE8?8FCEw64HG<BAFCEwIH8FC4E?4?B<
!&),%-+(&'-"*.,)8HI8AGxGE874A:8
E8HK
Y %8 6BHE4AG w?86GE<DH8 GE4I8EF4AG A<@CBEG8
DH8?6BA7H6G8HECEB7H<G78F6;4@CFw?86GEB
@4:AwG<DH8F&%86BHE4AG78FBH7HE8
BH787w6BHC8CEB7H<F8AG78F6;4@CFw?86
GEB@4:AwG<DH8F 4HGBHE 78F 6p5?8F BH 78F
:wAwE4G8HEF
S %8F 6;4@CF @4:AwG<DH8F CEBIBDHwF C4E 78F 6BHE4AGF
w?8IwFC8HI8AG<AG8E9wE8E4I86?89BA6G<BAA8@8AG78FFG<@H
?4G8HEF64E7<4DH8F
P8FG CBHEDHB< 4I4AG 78 FP4CCEB6;8E 78F BCwE4G<BAF 78
FBH74:8 n ?P4E6 7w6BHC8 7w6E<DH4:8 BH FBH74:8 C4E
CB<AGF?8FCBEG8HEF7P4CC4E8<?Fw?86GEBA<DH8FI<G4HKFG<@H
?4G8HEF64E7<4DH8F7B<I8AG6BAFH?G8E?8HE@w786<A
S%P8KCBF<G<BA4HK6;4@CFw?86GEB@4:AwG<DH8F78FBH7HE8
BH787w6BHC8C8HGCEB7H<E878F8998GF<A6BAAHFFHE?4F4AGw
)BHE E87H<E8 ?8F E<FDH8F CEBIBDHwF C4E ?8KCBF<G<BA 4HK
6;4@CFw?86GEB@4:AwG<DH8F6;4DH8BCwE4G8HE7B<GFH<IE8
?8FCEB6w7HE8FFH<I4AG8F
/wE<9<8EDH8?86p5?878@4FF88G78?4C<A68CBEG8
w?86GEB78BH78?4GBE6;8E8FG8AG7<FCBFwF6•G8n6•G8
,<CBFF<5?8<?94HG?8F9<K8E8AF8@5?84I867HEH54A
'8C4F8AEBH?8E?8F6p5?8F78@4FF88G78?4C<A68
CBEG8w?86GEB78BH78?4GBE6;84HGBHE7H6BECF
'8=4@4<FE8FG8E8AGE8?86p5?878@4FF88G?86p5?878
?4C<A68CBEG8w?86GEB78BH78?4GBE6;8,<?86p5?878
@4FF8F8GEBHI8n7EB<G878?BCwE4G8HE?86p5?878?4
C<A68CBEG8w?86GEB78BH78?4GBE6;87B<GxGE8w:4?8
@8AGn7EB<G8
BAA86G8E?86p5?878@4FF8n?4C<v68nHF<A8E4HFF<
CEB6;8 DH8 CBFF<5?8 78 ?4 MBA8 78 FBH7HE8 BH 78
7w6BHC8
'8C4FGE4I4<??8ECEvF7H:wAwE4G8HE
1)%(,"(',
Y'8C4FFBH78EnCEBK<@<Gw78Ew6<C<8AGFFBHFCE8F
F<BABH8ACEwF8A6878CBHFF<vE8F:4MBHI4C8HEF
8KC?BF<9F&4A<8E4I86FB<A?8F5BHG8<??8F8G?8F7wG8A
78HEF78CE8FF<BAHG<?<FwF74AF?8FBCwE4G<BAF78FBH7HE8
(&)-""%"-%-+(& '-"*.
8GG8@46;<A88FG6BAFGEH<G88A6BA9BE@<Gw4HK<A7<64G<BAF
6BAG8AH8F74AF?4ABE@8;4E@BA<Fw8"?3B
<32=7BcB@3CB7:7Ab3 ?C3 >=C@ 23A0CBA >@=43AA7=<<3:A
2/<AC<;7:73C7<2CAB@73:<4/7B7:>3CBG/D=7@23A27447
1C:BbA>=B3<B73::3A2/<A:I/AAC@/<1323:/1=;>/B707:7Bb
b:31B@=;/5<bB7?C3 2/<A C< ;7:73C 2744b@3<B 23 13:C7
7<2CAB@73:
d%"&"'-"('d*.")&'-,d%-+"*.,
-d%-+('"*.,
'8C4Fw?<@<A8E?8F7w6;8GF7PwDH<C8@8AGFw?86
GE<DH8F8Gw?86GEBA<DH8F4I86?8FBE7HE8F
@wA4:vE8FBA9BE@w@8AGn?4<E86G<I8HEBCw8AA8
FHE?8F7w6;8GF7PwDH<C8@8AGFw?86GE<DH8F
8Gw?86GEBA<DH8F8GnFBA<AGEB7H6G<BA74AF?8647E878F
?w:<F?4G<BAFA4G<BA4?8FHA89B<F?8HE6L6?878I<8G8E@<Aw
?8FwDH<C8@8AGFw?86GE<DH8F8Gw?86GEBA<DH8F7B<I8AG
xGE86B??86GwFFwC4Ew@8AG8G6BA9wEwFnHA8HF<A878
E86L6?4:8'BHFE86B@@4A7BAF4HKCEBCE<wG4<E8F78F
wDH<C8@8AGF78FP<A9BE@8E4HCEvF78ABGE8E8CEwF8AG4AG
?B64?4HFH=8G78FFLFGv@8F786B??86G84:EwwFAIBHF
6BA9BE@4AGn68GG8<E86G<I8HEBCw8AA8IBHF6BAGE<
5H8Mn?4CEBG86G<BA78?P8AI<EBAA8@8AG8G78?4F4AGw
',&./",('-"(''&'-&'+
%P,,",-')+,(''%*.%""d
$ %)(('*&(''!"('
%8 G8KG8 AH@wEBGw FH<I4AG 6BEE8FCBA7 4HK 64F8F AH@w
EBGw8F78?4C?4DH8GG8
    

 %8F:4?8GF8AGE4|A8@8AG9<?C8HI8AG5?8FF8E?8F@4<AF
 %89<?78FBH7HE88G?8:EBHC88AGE4|A8@8AG9<?FBAGFBHF
G8AF<BA C8A74AG ?8 FBH74:8 '8 C4F 4CCEB6;8E ?8F
@4<AFA<78FB5=8GF@wG4??<DH8F
 %8F7w6;4E:8Fw?86GE<DH8FCEBIBDHw8FC4E?w?86GEB78
?86p5?8C8HI8AGxGE8@BEG8??8F,8CEBGw:8E78@4A<v
E847wDH4G86BAGE8?8F7w6;4E:8Fw?86GE<DH8F
 )BEG8E78F:4AGF<FB?4AGF'8C4FGBH6;8E?Pw?86GEB78
4I86 ?8F @4<AF AH8F '8 =4@4<F CBEG8E 78F :4AGF
;H@<78FBH8A7B@@4:wF
 ,4FFHE8E7xGE8<FB?wF78?4C<v68nFBH78E8G7HFB?
 w5E4A6;8E?49<6;87H6BE7BA7P4?<@8AG4G<BA4I4AG78
GE4I4<??8EFHE?4@46;<A8
 %<A;4?4G<BA78F8K;4?4G<BAF CEB7H<G8FC4E?4 FBH7HE8
C8HGxGE8AH<F<5?8CBHE?4F4AGw
 -8A<E?4GxG8n?w64EG78F8K;4?4G<BAF
 .G<?<F8EHAFLFGv@878I8AG<?4G<BA9BE6w8BH787w6;4E
:8@8AG78F?B64HKCBHEw?<@<A8EGBHG88K;4?4<FBA
 .G<?<F8E HA I8AG<?4G8HE 74FC<E4G<BA CBHE w?<@<A8E ?8F
8K;4?4G<BAF
 %8FwG<A68??8FCEBIBDHw8FC4E?4FBH7HE8C8HI8AG64H
F8E78F8KC?BF<BAFBH78F<A68A7<8F
 -8A<E?8F@4G<vE8F<A9?4@@45?8Fn?Pw64EG78?4MBA878
FBH7HE8
 %8FwG<A68??8FCEBIBDHw8FC4E?4FBH7HE8C8HI8AG64H
F8E78F<A68A7<8F&4<AG8A<EHA8KG<A6G8HEnCEBK<@<Gw8G
94<E8 8A FBEG8 DHHA8 C8EFBAA8 FB<G GBH=BHEF CExG8 n
?HG<?<F8E
 '8=4@4<FFBH78E78FEw6<C<8AGF98E@wF
 %8FE4LBAF78?P4E6C8HI8AG<EE<G8E?8FL8HK8G5Eˆ?8E?4
C84H
 )BEG8EHA64FDH88G78F?HA8GG8F78Fw6HE<Gw.G<?<F8E
78F7<FCBF<G<9F78CEBG86G<BA47wDH4GFCBHE?8FBE8<??8F
8G 78F 5?BHF8F 4I86 6B? 5BHGBAAw .G<?<F8E 78F
@4FDH8F8G64FDH8F78FBH78HE4I869<?GE8F7878:Ew
4CCEBCE<w)BEG8E78FwDH<C8@8AGF78CEBG86G<BA6B@
C?8GFCBHE?86BECF
 %<E8?4ABG<687<AFGEH6G<BA4I4AG7HG<?<F8E?4@46;<A8BH
4I4AG789986GH8EGBHG8BCwE4G<BA
 '8C4F8A?8I8EA<6BHIE<E?8FwG<DH8GG8F74I8EG<FF8@8AG
'&$(#""& 
'$(#"'
8@4AH8? 4 wGwCEwC4Ew74AF ?8 5HG7<AFGEH<E8?8 C8E
FBAA8? CEwCBFw n ?<AFG4??4G<BA 4H 9BA6G<BAA8@8AG 8G n
?8AGE8G<8A7HCBFG8nFBH78E
8GG8@46;<A88FGHA8FBHE6878G8AF<BA6BAFG4AG8<A7<
DHw8CBHE?4FBH7HE8&" & 8G()'+
BAGE•?8E n ?4 Ew68CG<BA DH<? AL 4 C4F 78 C4EG<8F
64FFw8FBH5<8A45|@w8F
(=CB3@b1:/;/B7=<>=C@>3@B3A=C2=;;/53A2=7BcB@3
4/7B3>/@:/163B3C@/CB@/<A>=@B3C@6/?C34=7A?C=<
23;/<2323A@3<A375<3;3<BA1=<13@</<B:3>=AB3Y
A=C23@>@7=<A27<27?C3@:/@B71:33B:3<C;b@=;/B@7
1C:3
!'"$ 
A?8I8E?4@46;<A878FBA8@54??4:88G?4C?468E74AFHA
8A7EB<G4L4AGHA8I8AG<?4G<BA4CCEBCE<w8F<CBFF<5?8F4AF
CBHFF<vE8F8A94<F4AG4GG8AG<BAnA8C4FB5GHE8E?P8AGEw8
8G?4FBEG<878?P4<E74AF?8F:E<??8F78E89EB<7<FF8@8AG
--'-"(' .' "+.%-"(' +."-  %P"+
64HF8 ?4 FHE6;4H998 8G 78 CBFF<5?8F 8A7B@@4:8@8AGF
78FC4EG<8F<AGwE<8HE8F
%4<FF8E4H@B<AF@@7P8FC468?<5E8GBHG4HGBHE78?4
@46;<A8
'8C?468E4H6HA7<FCBF<G<9789<?GE4G<BAFHE?8FC4FF4:8F
7P8AGEw878?P4<E7868CBFG8nFBH78E
%4:4E4AG<878I<8AGAH??8?BEFDHPBAHG<?<F8HA7<FCBF<G<978
9<?GE4G<BA78AP<@CBEG8DH8?GLC8
&BAG8E?8FC<v68F9BHEA<8F4I86?4@46;<A86B@@8<A7<
DHw8A9<:HE8
'&$(#" !"
 <B3@@C>B3C@
"?F8EGCBHE@8GGE88A@4E6;8BH4EExG8E?4@46;<A8
4<AF< DH8 CBHE Ew:?8E ?8F I4?8HEF 78 ?4 G8AF<BA 78
FBH7HE8
<:
<:


 =CB=<23@b5:/53
?P4<7878685BHGBA<?8FGCBFF<5?878Ew:?8E?4I<G8F
F87H9<?78FBH7HE8
 [0:323;/AA3
 328/C<3
??8FP4??H@8HA<DH8@8AG?BEFDH8?8G;8E@BFG4G<AG8E
EB@CG?89BA6G<BAA8@8AG7HCBFG8nFBH78E
 32D3@B3
??8<A7<DH8?4@<F88A@4E6;878?4@46;<A8
 (=@16323A=C2C@3
$=75<b3
??8A87B<GC4FxGE8HG<?<Fw8CBHE?8?8I4:8
'&$(#"'"& '
'$(#"'
8CBFG8nFBH78EC8E@8G?4FBH7HE87P46<8E7BHK46<8E
<ABKL745?88G4?H@<A<H@
,$ (#"'#""'("%)'
%8CBFG8nFBH78E8FG6BAFGEH<GF8?BA68FABE@8F
<AG8EA4G<BA4?8F '  "  ?  
""
'X 'H@wEB@4GE<6H?8n6<G8ECBHEGBHGGLC878
DH8FG<BA6BA68EA4AG?8CBFG8nFBH78E
-E4AF9BE@4G8HE+87E8FF8HE@BABC;4Fw
4E46GwE<FG<DH88KGwE<8HE878?4@46;<A8
.B -8AF<BAnI<78F86BA74<E8I4?8HE78CB<AG8
1 %8946G8HE78@4E6;88KCE<@8?8CBHE68AG4
:878@<AHG8FC8A74AG?8FDH8??8F?4
@46;<A8C8HGBCwE8EnHA68EG4<A6BHE4AG
F4AF64HF8E78FFHE6;4H998F
8K8@C?81"

8?4F<:A<9<8DH8?4@46;<A8C8HGFBH78E
4I86HA6BHE4AG"
C8A74AG
@<AHG8FFHE6P8FGn7<E8
"
BHE4AG78FBH7HE8
.
-8AF<BAF86BA74<E84I866BHE4AG78
FBH7HE8"
.
-8AF<BAAB@<A4?87P4?<@8AG4G<BA
N!M?<@8AG4G<BA@BABC;4Fw8!M
"@4K 8FG?4I4?8HE@4K<@4?87H6BHE4AG45FBE5w
"899 8FG?4I4?8HE@4K<@4?87H6BHE4AG89986G<9
45FBE5w8A6BAF<7wE4AG?8946G8HE78@4E6;8
"), 8:Ew78CEBG86G<BA8FG<@w8CBHE?8?B:8@8AG
8:Ew8AG4AGDH878HK<v@86;<99E8F<:A<9<8DH8
68G4CC4E8<?C8HGxGE88AGE8CBFw@4<F<?A8C8HG
C4FxGE8HG<?<Fwn?8KGwE<8HE8A64F78CEw6<C<G4
G<BAFn@B<AFDH<?A8AFB<GCEBGw:w
CG8nBCwE8E74AF78F@<?<8HK4I86E<FDH8
466EH
'(-ABHGE8?4@46;<A84wGw6BAuH8CBHEBCwE8E74AF
78F@<?<8HK4I86HA78:Ew78CB??HG<BA/B<E"
'&$(#" $&#((#"
8GG8@46;<A8 8FG CEBGw:w8C4EHAG;8E@BFG4G ABE@4?8
@8AG98E@wCBF<G<BAAwFHE?8GE4AF9BE@4G8HE78CH<FF4A68
%BEF 78 ?P8AGEw8 8A 9BA6G<BA 7H G;8E@BFG4G ?4 @46;<A8
'
68FF878FBH78EG4A7<FDH8?8I8AG<?4G8HEn@BG8HE6BAG<
AH8n9BA6G<BAA8E8G?4?87=4HA8FP4??H@8
CEvF?P8AGEw88A9BA6G<BA4GG8A7E8DH8?DH8F@<AHG8F78
94uBAnC8E@8GGE8?8E89EB<7<FF8@8AG7H:wAwE4G8HE
!'"#)*&
%P<AFG4??4G<BA 78 ?4 @46;<A8 7B<G xGE8 8Kw6HGw8 C4E C8E
FBAA8?8KC8EG-BHF?8FE466BE78@8AGF7B<I8AGxGE88Kw
6HGwFF8?BA?8FABE@8F8AI<:H8HE8G74AF?8E8FC86GGBG4?
78?4Ew:?8@8AG4G<BA8A@4G<vE878CEwI8AG<BA78F466<
78AGFIB<EABE@8""%
BAGE•?8EDH8?87<4@vGE87H9<?6BEE8FCBA74H7<4@vGE8
<A7<DHwFHE?8EBH?84H8G@BAG8E?45B5<A87H9<?,P4FFHE8E
DH8?8 9<?78 FBH7HE8C4FF8 n ?P<AGwE<8HE 78 ?4 :BE:87H
EBH?84H
I4AG78E466BE78E?86BE7BA7P4?<@8AG4G<BAFP4FFHE8E
DH8?4G8AF<BA78EwF84H6BEE8FCBA7n68??87HCBFG8n
FBH78EAFH<G8
4 A64F785E4A6;8@8AGC8E@4A8AG4HFLFGv@8
7P4?<@8AG4G<BAF4AF9<6;8<?94HGCEwIB<EHA<AG8EEHCG8HE
:wAwE4?7864C46<Gw47wDH4G8C4EE4CCBEG4HK7BAAw8F
78?4C?4DH8
5 A64F785E4A6;8@8AG4I869<6;8HG<?<F8EHA89<6;8
7864C46<Gw47wDH4G8C4EE4CCBEG4HK7BAAw8F78?4
C?4DH84AF6864F?49<6;87B<GxGE8HG<?<Fw8CBHE
7w5E4A6;8E6B@C?vG8@8AG?4@46;<A87HEwF84H
4CEvF4IB<ECBF<G<BAAw?P<AG8EEHCG8HE FHEW#[
%86BA7H6G8HEI8EG=4HA87B<GxGE8E466BE7wn?45BEA878
G8EE8+466BE78E?45BEA87H6p5?878@4FF8 n?4C<v68
nFBH78E
%86<E6H<G78FBH7HE8A87B<GC4FxGE8C?46w7w?<5wEw@8AG
4H6BAG46G7<E86GBH<A7<E86G4I86?86BA7H6G8HE78CEB
G86G<BAF4H974AF?4C<v68nFBH78E
,<?4C<v68nHF<A8E8FGE466BE7w87w?<5wEw@8AGn?4G8EE8
n GE4I8EF ?8 6BA7H6G8HE 78 CEBG86G<BA ?8 E466BE78@8AG
7B<GxGE8?8C?HF7<E86GCBFF<5?88G8Kw6HGw4H@BL8A7PHA
6BA7H6G8HE78F86G<BA4H@B<AFw:4?8n68??87H6BA7H6
G8HE 78 E8GBHE 7H 6BHE4AG 78 FBH7HE8 8G E466BE7w n ?4
C<v68 n HF<A8E 8A HG<?<F4AG ?4 5BEA8 7H 6BA7H6G8HE 78
E8GBHEBH5<8A
HA878HK<v@85BEA878@4FF8C?46w8<@@w7<4G8@8AGn
CEBK<@<Gw-BHG8CEw64HG<BACBFF<5?87B<GxGE8CE<F849<A
7PwI<G8E78F6BHE4AGF8EE4AGF78FBH7HE8
&8GGE8?4@46;<A88A@4E6;8n?P4<7878?P<AG8EEHCG8HE
KGE4<E8?4 5HF8 :4M 6BA<DH8  8A ?4GBHEA4AG 8A F8AF
;BE4<E8wI<FF8E?45HF8CBEG86BHE4AG
"3 >/A />>CG3@ AC@ :3 0=CB=< 23 :/ B=@163 /D/<B
2I/D=7@:CA=75<3CA3;3<B:3;=232I3;>:=7
"?8FG<@CBEG4AG78FP4FFHE8EDH8?4@46;<A88FG4EExGw8
6;4DH89B<FDHPBAE8@C?468?45B5<A87H9<?8G?8EBH?84H
8AGE4|A89<? 49<A 7PwI<G8E DH8 ?8 @BGBEw7H6G8HE 7w@4EE8
466<78AG8??8@8AG
CCHL8EFHE ?85BHGBA78?4GBE6;8 8G ?8?4<FF8EHA<
DH8@8AGn?4FBEG<87H9<?
3 47: 23 A=C2C@3 >3CB 1/CA3@ 23A 0:3AAC@3A >3@
4=@b3A
'8 C4F CB<AG8E ?4 GBE6;8 I8EF 78F C4EG<8F 7H 6BECF
7P4HGE8F:8AFBH5<8AF78F@wG4HK?BEF7H@BAG4:87H9<?
78FBH7HE8
+8I<FF8E?4 5HF8 CBEG86BHE4AG 8A FP4FFHE4AG DH8?8
7<4@vGE87HGEBH8FGw:4?4H9<?8@C?BLw
"AGEB7H<E8?45HF8:4M6BA<DH878FBH7HE8 8A?4GBHE
A4AGGBH=BHEF8AF8AF;BE4<E8
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
A página está carregando ...
  • Page 1 1
  • Page 2 2
  • Page 3 3
  • Page 4 4
  • Page 5 5
  • Page 6 6
  • Page 7 7
  • Page 8 8
  • Page 9 9
  • Page 10 10
  • Page 11 11
  • Page 12 12
  • Page 13 13
  • Page 14 14
  • Page 15 15
  • Page 16 16
  • Page 17 17
  • Page 18 18
  • Page 19 19
  • Page 20 20
  • Page 21 21
  • Page 22 22
  • Page 23 23
  • Page 24 24
  • Page 25 25
  • Page 26 26
  • Page 27 27
  • Page 28 28
  • Page 29 29
  • Page 30 30
  • Page 31 31
  • Page 32 32
  • Page 33 33
  • Page 34 34
  • Page 35 35
  • Page 36 36
  • Page 37 37
  • Page 38 38
  • Page 39 39
  • Page 40 40
  • Page 41 41
  • Page 42 42
  • Page 43 43
  • Page 44 44
  • Page 45 45
  • Page 46 46
  • Page 47 47
  • Page 48 48
  • Page 49 49
  • Page 50 50
  • Page 51 51
  • Page 52 52
  • Page 53 53
  • Page 54 54
  • Page 55 55
  • Page 56 56
  • Page 57 57
  • Page 58 58
  • Page 59 59
  • Page 60 60
  • Page 61 61
  • Page 62 62
  • Page 63 63
  • Page 64 64
  • Page 65 65
  • Page 66 66
  • Page 67 67
  • Page 68 68

Cebora EVO 160 M COMBI Manual do usuário

Cebora
Marca
Cebora
Modelo
EVO 160 M COMBI
Tipo
Manual do usuário
baixar PDF
relatório

em outros idiomas

Artigos relacionados

Outros documentos