!
!"#$%"&'&($)$*"&+%"#$*&,$-+./+0110$20($.(3&$/&1&&(,&$2..+$*&,$4&"3.&($56789$
567:$00(;$<$2"(',$&+$0=$.(3&$0>,"2",&",&($2..+$*&,$?.1&('&$4&"3.&(;$
@&&'.&($00($'&$?&+?$?0($#&$$.-$2&=&$10("&+&(A$20($'&$&+&'"&(4,$,.,$00($/.&'&+&($
"(301&=&($2..+$'&$2.&'4&=%0(?B$20($1&&'.&($00($&&($/&4-+&?4/+.&-$,.,$&&($
C0('&="(/$10?&($+.('$'&$C"44&="(/$20($'&$4&"3.&(&(;$D&,$00(%.'$"4$'0($..?$
2&&=3"#'"/B$&($2..+$0==&$=&&E,"#'&(;$
F=4$/&=..E4/&1&&(4>*0-$C"==&($C&$/+00/$1"''&($"($.(3&$'.+-&($4,00(;$$
F==&$0>,"2",&",&($3"#($'0($..?$2..+$"&'&+&&($,.&/0(?&="#?;$$
!&$.(,20(/&($)$/+00/$0=4$/04,;$$
$
G&($00(,0=$0>,"2",&",&($"4$401&($1&,$'&$*&+2.+1'&$4,+&&?/&1&&(,&$
͚>ĂŶŬŵĞĂŵĞƌƚ͛ǀĂŶ!"(4)1B$H00+'$&($G04,&+=",,&(4B$'&$/&1&&(,&$20($'&$
&>*,/&(.,&$20($.(3&$-+&'"?0(,B$&($1&,$'&$I+.,&4,0(,4&$J&1&&(,&$K&??)1B$C00+$
3"#$%&"'&$C&+?3001$3"#(;$!00+$'0,$*&,$/&20=$"4B$"4$'",$')"'&="#?$00(/&/&2&(;$$
$
!&$*.-&($'0,$)$C0,$20($)C$/0'"(/$?)(,$2"('&(B$&($'0,$C&$)$%"#$&&($.E$1&&+'&+&$
0>,"2",&",&($1./&($.(,1.&,&(;$
$
L&$?&+?&(+00'$
$
$
!
!
!
!
!
!
!
!
!
!
!
!
!
"#$!%&'!()&*$&!+#''&,!'-&&!.)//&!)0123&4)567.#&5&,8!+)92'!0&5!295&/!
3&5/:%#..&,9&!0&5/),&,!+#:%!),24%2,*&.#$*!32,!&.*225!*7,,&,!)01&3&,;!<)*!#/!
%&'!)0123&4)567.#&5!'&!9)-,.)29&,!32,!),+&!/#'&=!---;'&50)25'&;,.!!
>!*7,'!9&!)0123&4)567.#&5&,!#,.&3&5&,!#,!9&!*&5*1&()7-&,8!3#2!9&!)0!9&!
4)567.#&5&,!1&,)&69&!295&//&,!&,!3#2!9&!&?!62#.;!
1
MNFONPQRLFJ$
P.('0/$S$4&-,&1%&+$2"&+&($C&$.(3&$4,0+,3.('0/;$
N*&10$"4$A$T"&+&($&($2&+%"('&(B$$*&,$,*&10$'0,$'&$
=0('&="#?&$?&+?$.(4$00(+&"?,$&($'0,$..?$2&&=$0('&+&$
/&1&&(,&4$"($'&$I+.,&4,0(,4&$U&+?$0=4$1.,,.$2..+$*)($
4,0+,3.('0/$*&%%&(;$$
"#$%#&''&!
D&,$-+./+0110$%&/"(,$.1$V;66$))+$1&,$&&($/&301&(="#?$
ŽŶƚďŝũƚŝŶ͚/ƚ^ƚƌŝŶŐ͛͘$
T0($76;66$ʹ$77;66$$"4$&+$2&+2.=/&(4$&&($'"&(4,$"($'&$M"(,$@0+/+W,B$C00+"($C&$
3"(/&('B$=)"4,&+&('$&($%"''&('$*&,$,*&10$2&+?&((&($&($3.&?&($(00+$2&+%"('"(/$
1&,$'&$D&&+B$1&,$&=?00+$&($1&,$'&$C&+&='$.1$.(4$*&&(;$F'2&('.$2&+3.+/,$'&3&$
1.+/&($'&$%&/&=&"'"(/;$X&==&$&($O&(4?&$20($'&+$@&&+$'&=&($1&,$.(4$*)($
&+20+"(/&($20($*)($+&"4$20($0E/&=.-&($3.1&+$2..+$*&,$'"&(4,*)"4$(00+$D.(/0+"#&B$$
&&($00(,0=$'&&=(&1&+4$00($'&$E"&,4,.>*,$=0(/4$7V$?&+?&($"($'&$U+)11*Y+($"($Q4,Z$
[+"&4=0('$%+&(/&($20($'00+$)",$&&($/+.&,$.2&+B$&($&(?&=&$=&'&($20($'&$C&+?/+.&-$
͚ĞůĞŝĚƐƉůĂŶϮϬϭϱʹ$ϮϬϮϬ͛ǀĞƌƚĞůůĞŶŚŽĞƵĚĞŬŽŵĞŶĚĞƚŝũĚŬƵŶƚŵĞĞƉƌ0,&($.2&+$
'&$?.&+4$'"&$C&$'&$?.1&('&$#0+&($0=4$/&1&&(,&$C"==&($20+&(;$T..+$'&$?"('&+&($"4$
&+$&&($'.&$ʹ$0>,"2",&",;$<$*.&E,$3">*$("&,$.-$,&$/&2&(;$P.C&=$"($\,$M,+"(/$0=4$"($'&$
M"(,$@0+/+W,$%&(,$)$3.('&+$00(1&='"(/$2..+0E$20($*0+,&$C&=?.1;$
!
F]N\T\NG\NGR$QI$\R$LG$GOGL\GRMNA$
@;A&+&,!#,!9&!&5&9#&,/'!
G&($20($'&$=&3"(/&($"($'&$3.('0/4&$
&+&'"&(4,$C.+',$'..+$&&($/&1&&(,&="'$
/&'00(;$!&$*&%%&($=&3&+4$)",$0==&$
=&&E,"#'4/+.&-&(;$J&&E$#&$..?$^C&&+_$.-$0=4$
=&3&+`$
!
!
!
B;!C2,115)&0!
K)>04$!"&+4&10$"4$(004,$.+/0("4,$..?$
00(/&4,&='$0=4$?..+=&"'&+;$G&($00(,0=$?&+&($-&+$
#00+$%&+&"',$*"#$1&,$&&($/+.&-$/&1&&(,&=&'&($
&&($%"#'+0/&$00($'&$30(/$"($'&$&+&'"&(4,$2..+;$
L00+2..+$C.+',$20($,&2.+&($&&($00(,0=$?&+&($
/&+&-&,&&+';$L&$+&-&,","&4$')+&($&&($))+B$&($
ǁŽƌĚĞŶŐĞŚŽƵĚĞŶŝŶ͚KŶƐ,ƵŝƐ͛͘Q-$
2+"#'0/02.(';$$K"#?,$*&,$)$C0,$.1$..?$1&&$,&$
3"(/&($"($'&$30(//+.&-B$(&&1,$)$'0($>.(,0>,$.-$1&,$O))+'$M0=2&+'0B$.(3&$
2
.)'&+="(/$=",)+/"&a$,&=;$6:b$5:85cS7;$<$?)(,$'0($&&($00(,0=$+&-&,","&4$%"#$C.(&($&($
3.$3&=E$.(,'&??&($.E$'&$1)3"&?$&($*&,$/&2+00/'&$("2&0)$20($3"(/&($%"#$)$-044&(;$$
<$?)(,$3">*$..?$.-/&2&($2"0$*&,$E.+1)="&+$0>*,&+"(B$'0($(&&1,$*"#$>.(,0>,$1&,$)$
.-$
$
D;!E&,!67+#*2.&!(#$9521&!#,!9&!&5&9#&,/'!
R0$'&$-+&&?$"4$&+$.-$3.('0/1.+/&($200?$1)3"&?;$
@&&4,0=$C.+',$'"&$2&+3.+/'$'..+$'&$.+/0("4,;$T.=/&(4$
'&$=",)+/"&>.11"44"&$3"#($&+$&>*,&+$..?$C&=$0('&+&$
/&1&&(,&=&'&($'"&$'",$3.)'&($?)((&($'.&(;$F==&&($.E$
401&($1&,$0('&+&(;$D&,$*.&E,$("&,$-&+$4&$/&&4,&="#?&$
1)3"&?$,&$3"#(;$L.&=$20($'&$1)3"&?$(0$'&$-+&&?$"4$&&($
1.1&(,$20($2&+4,"=="(/$,&$%"&'&($"($'&$'"&(4,;$F==&$
1)3"&?$'"&$'00+00($?0($%"#'+0/&($"4$C&=?.1;$
$
$
F;!G#&,/'&,!3))5!$),1!&,!)79!
L",$4&"3.&($.+/0("4&+&($C&$C&&+$&&($00(,0=$'"&(4,&($
2..+$#.(/$&($.)';$L"&(4,&($C00+"($2..+$&=?&$
=&&E,"#'4/+.&-$C0,$,&$%&=&2&($20=,$&($'"&$C&$1&&4,0=$
1&,$&&($?=&"($/+.&-#&$/&1&&(,&=&'&($2..+%&+&"'&(;$<$
?)(,$3">*$00(1&='&($.1$dd($.E$1&&+$?&&+$1&&$,&$
'.&($00($'&$2..+%&+&"'"(/;$
L0,0$20($'&$'"&(4,&(A$$
:$.?,.%&+B$5$(.2&1%&+B$S$'&>&1%&+B$7$E&%+)0+"B$7$
100+,B$&($?&+4,02.('$58$'&>&1%&+;$H&*0=2&$.-$
?&+4,02.('$%&/"((&($'&3&$'"&(4,&($.1$77;66$))+;$
T0(0E$*0=E$&=E$4,00,$'0($'&$?.EE"&$?=00+;$L&$
2..+%&+&"'"(/4%"#&&(?.14,$"4$4,&&'4$,"&($'0/&($2..+$'&$'"&(4,a$.-$
C.&(4'0/02.(';$
$
H;!I)44#&!95#,*&,!3))5!9&!9#&,/'!
T0($.?,.%&+$,.,$&($1&,$100+,$"4$&+$dd($?&&+$"($'&$
100('$?.EE"&$'+"(?&($2..+$'&$'"&(4,;$M,&&'4$.-$'&$
&&+4,&$3.('0/$20($'&$100(';$
L&$?&+?'"&(4,$%&/"(,$'0($.1$77;66$))+;$T0(0E$*0=E$&=E$
4,00,$'&$?.EE"&$?=00+;$
L0,0$"($5678A$:$.?,.%&+B$5$(.2&1%&+B$S$'&>&1%&+$$
L0,0$"($567:A$8$#0()0+"B$7$E&%+)0+"B$&($7$100+,;$
$
3
J;!K)&9&5&,!#,+26&.&,!3))5!9&!3)&9/&.(2,*!
G=?&$&&+4,&$3.('0/$20($'&$100('$301&=&($C&$
/.&'&+&($"($2..+$'&$2.&'4&=%0(?$"($K&&)C0+'&($'"&$
'&$/.&'&+&($.-$3"#($%&)+,$'..+/&&E,$00($1&(4&($'"&$
*&,$(.'"/$*&%%&(;$
<$?)(,$)C$4-)==&($..?$.-$'&$30,&+'0/$&+2..+$ďŝũ͚KŶƐ
,ƵŝƐ͛ŽĨŝŶĚĞ^ŝŶƚDĂƌŐƌŝĞƚďƌĞŶŐĞŶ;$T0($75;66$ʹ$
78;66$))+;$H"#$'&$M-0+$"($L&"()1$?)(,$)B$(0$*&,$'.&($
20($)C$%..'4>*0--&(B$)C$/.&'&+&($?C"#,$"($&&($
'00+2..+$%&4,&1'&$?+0,;$
!
L;!M&/0&5/!!
\($'&$-&+".'&$20($4&-,&1%&+$,.,$&($1&,$100+,$"4$&+$&=?&$
=00,4,&$3.('0/$20($'&$100+,$.1$7V;66$))+$&&($
2&4-&+2"&+"(/;$
D&,$3"#($?.+,&$'"&(4,&($20($+)"1$&&($*0=E$))+$1&,$30(/B$
/&%&'B$&&($=&3"(/B$&2&(,)&&=$&&($/&'">*,B$&($4,"=,&;$$
L&$="&'&+&($'"&$C&$3"(/&($?.1&($)",$'&$+"#?&$,+0'","&$
20($'&$?=..4,&+4B$\.(0B$N0"3dB$&($.(3&$&"/&($="&'%.&?&(;$
D&,$3"#($=&?&('"&(4,&(;$K&3"(/&($&($/&%&'&($C.+'&($
/&'00($'..+$/&1&&(,&=&'&(;$
ĞǀĞƐƉĞƌŝƐĂůƚŝũĚŝŶĚĞŬĞƌŬǁĂĂƌ͛ƐŵŽƌŐĞŶƐŽŽŬĚŝĞŶƐƚ
C04;$
$
N;!O),&&.!#,!9&!&5&9#&,/'!
X&$?)(,$'&$%..'4>*0-$20($'&$%"#%&=$.-$2&=&$10("&+&($
2&+,.=?&(B$("&,$0==&&($2"0$C..+'$&($="&'B$100+$..?$2"0$
,.(&&=;$G&($-00+$#00+$/&=&'&($*&%%&($C&$.(,'&?,$*.&$&&($
2&+*00=$#&$3.$?0($+0?&($0=4$(..",$,&2.+&(;$O&'&($.1$'",$
-+./+110$Z.('&+'&&=$(./$C&&+$&&(4$.-$,&$-0??&($;$G($')4$
?)(,$)$'",$4&"3.&($.-$2"&+$3.('0/&($1&&'.&($00($&&($
?.+,&$'+010,"4>*&$2&+%&&='"(/$,)44&($4>*+"E,=&3"(/$&($
-+&&?$20($*&,$%&,+&EE&('&$H"#%&=/&'&&=,&;$L&$%&'.&="(/$"4$.1$"($'&$C&&?$
2..+0E/00('&$00($%&,+&EE&('&$3.('0/&($dd($?&&+$&&($02.('$%"#$&=?00+$,&$?.1&($
,&+$2..+%&+&"'"(/$^"($'&$+&/&=$.-$100('0/_;$Q.?$.-$30,&+'0/$C.+',$&+$/&.&E&(';$
L&$=&"'"(/$"4$C&&+$ŝŶŚĂŶĚĞŶǀĂŶ'ŽŽŝƚƐĞŶĞŶůŝŶŐ͕ƚŚĞĂƚĞƌĚŽĐĞŶƚĂĂŶĚĞ͚&ƌŝĞƐĞ
WŽŽƌƚ͛$
L0,0A$5$(.2&1%&+B$S$'&>&1%&+B$77$100+,$&($c$1&";$
$!
!
$
4
JGMIOGUMJOQGIGRA$
P;!Q&&.&+&,!)0!-)&,/921!
G=?&$C.&(4'0/$2..+0E/00('$00($'&$'"&(4,&($C00+"($'4;$
N&+=.)C$3&=E$2..+/00,$?)(,$)$$20($7V;66$ʹ$56;66$1&,$*&1$'&$
H"#%&=,&?4,$=&3&($'"&$'&$3.('0/$&+.-$00($'&$.+'&$"4$&($&&+4,&$
.%4&+20,"&4$+.('$'&$,&?4,$1&,$&=?00+$)",C"44&=&(;$$X&$?.1,$3.$
1&&+$,&$C&,&($.2&+$'&$0>*,&+/+.('$20($'&$H"#%&=$&($#&$.(,'&?,$
*.&$H"#%&=,&?4,&($#&$?)((&($*&=-&($+">*,"(/$,&$/&2&($00($#&$
&"/&($=&2&(4&+20+"(/;$X&$*.&E,$/&&($?&+?/0(/&+$,&$3"#($.1$,.>*$
1&&$,&$?)((&($'.&(;$
L0,0A$58$4&-,&1%&+a$bB$55$&($5V$.?,.%&+a$75$&($5e$(.2&1%&+a$76$'&>&1%&+a$S$&($
78$#0()0+"a$8$&($7b$E&%+)0+";$
$
@R;!K&.)3&,!S7!K5)&0!
T&+4-+&"'$.2&+$*&,$*&=&$=0('$&($"($'"2&+4&$
?&+?/&(..,4>*0--&($3"#($&+$J&=.2&($R)$
/+.&-&(;$Q.?$"($.(3&$/&1&&(,&$"4$&+$0=$&&($
00(,0=$#0+&($dd(;$L.&=$20($&&($J&=.2&($R)$
J+.&-$"4$.1$2"0$&&($.-&($/&4-+&?$+.('$&&($
H"#%&=/&'&&=,&$&=?00+4$/&=..E$,&$=&+&($?&((&($&($
,&$'&=&(;$Q.?$()$?)(,$)$C&&+$1&&$'.&(;$L&$
J&=.2&($R)$J+.&-$?.1,$2"&+$-&+$#00+$%"#$&=?00+A$,C&&$?&&+$2..+$&($,C&&$?&&+$(0$'&$
?&+4,;$R"&)C&$'&&=(&1&+4$3"#($20($*0+,&$C&=?.1;$!"=,$)$1&&+$C&,&($'0($?)(,$)$
,&+&>*,$%"#$J&+,"&,$M"#%+0('"$ʹ$M"#,410B$,&=;$5:87cSe;$
!
@@;!T522'15)&0!9&5'#1&5/!&,!3&&5'#1&5/!!
$
Q-$'&$-+00,/+.&-$2..+$'&+,"/&+4$&($2&&+,"/&+4$
?)($#&$1&,$=&&E,"#'4/&(.,&($20($/&'0>*,&($
C"44&=&($.2&+$/&=..E4Z$&($=&2&(42+0/&(;$!&$
'.&($'0,$1&&4,0=$00($'&$*0('$20($&&($
H"#%&=2&+*00=;$!&$?.1&($3&4$?&&+$%"#$&=?00+a$
'+"&$?&&+$2..+$?&+4,$&($'+"&$?&&+$(0$?&+4,;$T0($
56;7:$ʹ$57;8:$))+;$L&$&&+4,&$?&&+$.-$
C.&(4'0/$7S$4&-,&1%&+$;$L&$.2&+"/&$'0,0$
C.+'&($"($.2&+=&/$1&,$&=?00+$204,/&4,&=';$
H&/&=&"'"(/A$L4;$N&+=.)C;$$
$
R\G<!$HGKG\LMIKFRA$
L&$?.1&('&$100('&($/00($C&$0=4$/&1&&(,&$00($'&$4=0/$.1$&&($("&)C$
%&=&"'4-=0($.-$,&$4,&==&(;$L&$?&+?&(+00'$*&&E,$'00+2..+$&&($C&+?/+.&-$%&(.&1';$
5
L00+"($3",,&A$G)'"0$H&((0(.(B$O"?0$D&44&=4B$F+#0($,&($D.&2&B$O&/"(0$X.+(0B$R0((&$
U=&&E4,+0B$X.=0('0$20($'&+$@&&+$I"&,&+$Q,,&+B$@0+"&?&$I+"(4$&($I"&,&+$T"44&+;$
L&3&$C&+?/+.&-$%&+&"',$'&$*)"4?01&+/&4-+&??&($2..+$'"&$C&$/00($*.)'&(B$/&&E,$
&+$=&"'"(/$00($&($'.&,$00($'&$*0('$20($'&$)",?.14,&($2..+4,&==&($2..+$*&,$("&)C&$
%&=&"'4-=0(;$
@B;!U7#/*26&51&/05&**&,!
\($'&$=00,4,&$,C&&$C&?&($20($.?,.%&+$&($'&$&&+4,&$,C&&$
C&?&($20($(.2&1%&+$.+/0("4&+&($C&$0=4$.('&+'&&=$20($*&,$
.-4,&==&($20($&&($("&)C&$%&=&"'4-=0($2..+$'&$?.1&('&$2"#E$
#00+$*)"4?01&+/&4-+&??&(;$L.&=$20($'"&$/&4-+&??&($"4$,&$
"(2&(,0+"4&+&($C00+$C&$0=4$/&1&&(,&$4,&+?$"($3"#($&($*.&$C&$
'0,$2..+$'&$,.&?.14,$?)((&($2&+,0=&($"($%&=&"';$L+"&$2+0/&($
3)==&($.-$'"&$*)"4?01&+/&4-+&??&($>&(,+00=$4,00(A$
0;$!0,$C04$"($'&$0E/&=.-&($#0+&($2..+$)$&&($-.4","&E$1.1&(,$"($*&,$$
$$$$/&1&&(,&=&2&($&&($1.1&(,$C00+$)$1&,$&&($/.&'$00($,&+)/$'&(?,f$
%;$!0,$C04$'&$?&+($20($'"&$&+20+"(/f$!0,$C04$*&,$'0,$)$+00?,&f$
>;$!0,$C0+&($'&$E0>,.+&($'"&$'&3&$&+20+"(/$1./&="#?$100?,&(f$
T..+$'&$*)"4?01&+/&4-+&??&($.(,20(/,$)$0==&100=$..?$(./$&&($-&+4..(="#?&$
)",(.'"/"(/B$100+$)$?)(,$3">*$()$0=$204,$.-/&2&(;$F=4$0==&$00(1&='"(/&($%"((&($
3"#($10?&($C&$/+.&-&($20($3&4$-&+4.(&(;$I&+$/+.&-$3)==&($,C&&$1&(4&($)",$'&$
C&+?/+.&-$͚EŝĞƵǁĞůĞŝĚƐƉůĂŶ͛=&"'"(/$/&2&($00($*&,$/&4-+&?;$P.$*.-&($C&$&&($
%&&='$,&$?+"#/&($20($C00+$0=4$/&1&&(,&$.(3&$?+0>*,$="/,;$F0($'&$*0('$'00+20($
-+.%&+&($C&$'0($&&($%&=&"'$2..+$'&$?.1&('&$2"#E$#00+$,&$E.+1)=&+&(;$G"('$
(.2&1%&+$*.-&($C&$)$.-$&&($/&1&&(,&$ʹ$02.('$&&($&&+4,&$4>*&,4$,&$?)((&($
2..+=&//&(B$C00+.-$)$?)(,$+&0/&+&(;$H&/"($#0()0+"$1.&,$'0($*&,$("&)C&$
%&=&"'4-=0($?=00+$3"#(;$L0,$30=$2&+2.=/&(4$0=4$%04"4$'"&(&($2..+$*&,$3.&?&($20($&&($
("&)C&$-+&'"?0(,;$L&$-+.>&')+&$'00+2..+$4,0+,$"($#0()0+"B$&&($*0=E$#00+$2..+$L4;$
N&+=.)C$1&,$&1&+",00,$/00,;$Q-$*&,$00(1&='"(/4E.+1)="&+$?)(,$)$00(/&2&($"($
C&=?&$C&?&($&($.-$C&=?&$02.('&($)$?)(,;$<$*..+,$'0($)",&+="#?$&"('$4&-,&1%&+$
.-$C&=?&$02.('$)$%&(,$"(/&'&&=';$
$
@D;!K&6&&,'&!ʹ!23),9!
Q-$C.&(4'0/$5e$(.2&1%&+$"4$&+$&&($/&1&&(,&Z$
02.('B$C00+$C&$1&,$&=?00+$'&$)",?.14,&($20($'&$
*)"4?01&+/&4-+&??&($%&4-+&?&($&($401&($'&$
*..E'-)(,&($2..+$*&,$("&)C&$%&=&"'4-=0($
E.+1)=&+&(;$
I=00,4A$Q(4$D)"4a$,"#'A$20($56;7:$ʹ$57;8:$))+;$
$
$
$
6
TQQO$XQRJGOGRA$
@F;!V&719:.7(!
T..+$'&$#&)/'$20($75$,.,$7e$#00+$"4$&+$&&($?&&+$"($'&$,C&&$C&?&($
&&($>=)%02.(';$X&$?)(,$*"&+$1&,$0('&+&$#.(/&+&($/&3&=="/&$
0>,"2",&",&($.('&+(&1&($&($20($/&'0>*,&($C"44&=&($.2&+$'"(/&($
'"&$#&$%&3"/$*.)'&(;$Q-/02&$%"#$'&$>=)%=&"'"(/A$J&++",$N011"(/0B$
6:b$5:8787e$.E$X.?&$T&='10(B$6:b$5:875:7;$
$
$
$
@H;!O#&,&5:2'&:%&/&!
T..+$#.(/&+&($20($75$ʹ$78B$&($2..+$#.(/&+&($20($7:$#00+$&($.)'&+$
"4$&+$,"&(&+>0,&>*&4&;$D&,$"4$'&$%&'.&="(/$'0,$&+$2..+$%&"'&$
=&&E,"#'4>0,&/.+"&g($&&($0-0+,&$/+.&-$?.1,;$X&$=&&+,$.-$
>0,&>*"40,"&$(0'&(?&($&($-+0,&($.2&+$=&2&(42+0/&(;$L&$&(&$?&&+$$
(00+$00(=&"'"(/$20($&&($H"#%&=2&+*00=B$'&$0('&+&$?&&+$(00+$
00(=&"'"(/$20($'&$0>,)0=",&",;$!&$%&/"((&($"&'&+&$?&&+$1&,$&&($
00(,0=$%&+">*,&($.2&+$#.(/&+&($'"&$'&$C&&?$'00+2..+$"($'&$1&'"0$
3"#($2&+4>*&(&(;$$!&$?.1&($%"#$&=?00+$.-$3.('0/a$3.$+.('$,C00=2&($"($Q(4$D)"4;$
T..+$%&"'&$=&&E,"#4'4/+.&-&($3"#($&+$3&4$%"#&&(?.14,&(;$
T..+$'&$$75$ʹ$78$#0+"/&(A$.-$5b$4&-,&1%&+B$5e$.?,.%&+B$c6$(.2&1%&+B$5:$#0()0+"B$
55$E&%+)0+"$&($5V$100+,$20($77;66$ʹ$75;66$))+;$
T..+$'&$7:$-=)44&+4A$$.-$:$.?,.%&+B$e$(.2&1%&+B$S$'&>&1%&+B$8$#0()0+"B$e$E&%+)0+"$
&($e$100+,;$
H&/&=&"'"(/$&($"(=">*,"(/&(A$L4;$F'+"$N&+=.)CB$6:7S$5cce6e;$
()*)!&+,-.-,)-,!-/!/&')0!'),!1)223'$$
$
@J;!A7,:%1&/05&**&,!3))5!!@N!ʹ!BD!$25#1&,!
T..+$'&$7b$-=)44&+4$3"#($&+$=)(>*/&4-+&??&(B$
%"#&&(?.14,&($.-$3.('0/$20($7c;c6$ʹ$78;66$))+$
C00+.-$C&$1&,$&=?00+$=)(>*&($&($1&,$&=?00+$20($
/&'0>*,&($C"44&=&($.2&+$C0,$.(4$,&($'"&-4,&$+00?,;$!&$
'.&($'0,$00($'&$*0('$20($&&($E+0/1&(,$)",$&&($E"=1$.E$
,2$-+./+0110B$&&($/&'">*,B$&&($0+,"?&=$)",$'&$?+0(,$&($
&&($%"#%&=/&'&&=,&;$\($K&??)1$'.&$"?$'",$()$0=$'+"&$#00+$
&($3.C&=$2..+$'&$'&&=(&1&+4$0=4$2..+$1"#$3"#($*&,$
%"#&&(?.14,&($'"&$C&$%&4="4,$("&,$C"==&($1"44&(;$!&$
/00($&+$')4$1&&$'..+B$&($*&,$=&&?$.(4$=&)?$..?$L&"()1&+4$B$H.?4)1&+4$&($
H=&44)1&+4$)",$,&$(.'"/&(;$L&$&&+4,&$%"#&&(?.14,$"4$.-$3.('0/$75$.?,.%&+$"($'&$
?&+?$20($K&??)1;$H&/&=&"'"(/$&($"(=">*,"(/&(A$L4;$F'+"$N&+=.)CB$6:7S$5cce6e$
()*)!&+,-.-,)-,!-/!/&')0!'),!1)223'$
7
TQQO$MGR\QOGRA$
Q.?$'",$4&"3.&($.+/0("4&+&($C&$&&($00(,0=$0>,"2",&",&($4-&>"00=$
2..+$4&(".+&(;$
$
!
@L;!K&/05&*/6)51&,/!)0!9&!-)&,/921&,!@B!,)3&6(&5!&,!!@N!6225'!
$
Q-$'&3&$/&4-+&?41.+/&(4$2..+$4&(".+&($%&4-+&?&($C&$1&,$
ĞůŬĂĂƌĞĞŶƚŚĞŵĂŶƵŵŵĞƌǀĂŶ͚ĞKƉĞŶĞƵƌ͛B$.&>)1&("4>*$
100('%=0'$.2&+$2+0/&($20($/&=..E$&($=&2&(;$!"&$3">*$.-/&&E,$
?+"#/,$+)"1$20($,&2.+&($*&,$%&,+&EE&('&$,*&10()11&+$,*)"4$
%&3.+/'$.1$*&,$,&+$2..+%&+&"'"(/$,&$=&3&(;$L&$%"#&&(?.14,&($
ǁŽƌĚĞŶŐĞŚŽƵĚĞŶŝŶ͚KŶƐ,ƵŝƐ͛ǀĂŶϵ͘ϯϬʹ$77;c6$))+;$
\(=">*,"(/&($&($.+/0("40,"&A$[&11W$H.)10$ʹ$20($'&+$K00(B$
6:b$5:857c5;$
$
@N;!I&5/'3#&5#,1!3))5!)79&5&,!)0!35#$921!@P!9&:&6(&5!
!
G&($1"''0/$"($?&+4,4E&&+$1&,$401&(30(/B$1)3"&?B$&&($
?&+4,2&+*00=B$&($0E4=)",&('$&&($%+..'100=,"#';$$
F0(20(/$A$7e;66$))+;$I=00,4A$Q(4$D)"4;$
\(=">*,"(/&(A$[&11W$H.)10$ʹ$20($'&+$K00(B$6:b$5:857c5$
$
$
$
KGPGRA$
@P;!")&*(&/05&*#,1=!͚,ĞƚƐŵĂůůĞƉĂĚǀĂŶĚĞůŝĞĨĚĞ͛!32,!M),,&!32,!9&5!Q&&5!
W)&,/921!@F!$2,725#8!BR;RR!775;!
G&($R&'&+=0('4$/&3"($%+&(/,$0=$#0+&($'&$3.1&+$'..+$%"#$&&($
[+0(4ZR&'&+=0('4$/&3"(B$'0,$(0$'&$'..'$20($*&,$#.(/4,&$
?"('$"($'&$F)2&+/(&$"4$/00($C.(&(;$@0&$&($I"&,&+$
F??&+10($3"#($'&$2+"&('&($20($(0$*&,$.(/&=)?B$'&$-+&>"&3&$
,.&'+0>*,$&+20($?&((&($3&$("&,;$L&$2+"&('4>*0-$,)44&($'&$
E01"="&4$="#?,$&+$&&($2..+$*&,$=&2&($Z$,.,$'"&$3.1&+;$
45/!6)!,7))!8&#)0!-0!)52&&#!%)*)5/+9&8!7&#)0:!9-0%!)#!-),/!
.)#5-);6)#-%/!-0!6)!53+9,<!=),!%)0$)%!$'!930!9),!%).$)5!,)!
%).)0!6&,!*)!%).-)#)0!&&0,#)22)5->2)#:!%#&88-%)#!)0!5)0-%)#!.&0!%))/,!7&#)0!6&0!
&5/!8&&#<!
?),!/'&55)!8&6!.&0!6)!5-);6)$"4$&&($2&+*00=$.2&+$&&($.(1./&="#?&$="&E'&$'"&$'&$C&/$
2+"#100?,$(00+$&&($0('&+$2&+=0(/&(;$G&($20($'&$3&='301&$%.&?&($"($.(3&$,"#'$
C00+"($20($%"((&()",$&&($+&="/"&)4$.(,C0?&($C.+',$2&+%&&=';$
8
!&$=&3&($.-$'&3&$02.('$&&($00(,0=$?&+(-0440/&4$&($C"44&=&($=&&4&+20+"(/&($1&,$
&=?00+$)",;$
K&"'"(/A$X0-?&$!"&+4&10$Z$[.+,)"($&($F'+"$N&+=.)C;$
!
[\K@A$
BR;!X#.623),9!+),921!BP!/&0'&6(&5!#,!9&!*&5*!32,!A&**76͚͗,ĞĂǀĞŶ͛ǀĂŶ
O)6OY*-&5!,225!&&,!/:5#0'!32,!I5+Y/+')4!I#&/.)-/*#;!G775=!PL!6#,7'&,;!
Z2,/.7#'&,9!,2(&/05&*#,1!);.;3;!Z95#!O&5.)7-!
D&02&($"4$&&($E"=1$.2&+$*&,$=.,B$,.&20=B$
1"4'00'$&($4>*)='B$100+$2..+0=$.2&+$
0>),&B$-)+&B$0==&42&+3&(/&('&$="&E'&;$
K&+0+&4$I*"="--0$^]0,&$H=0(>*&,,_$-=00,4,$
&&($%.1$"($&&($N)+"#(4$?0(,..+;$P&$C"=$'&$
'+)/4'&0=&+$2&+1..+'&($'"&$,0==.3&$
?"('&+&($.-$*00+$4>*..=$2&+4=00E'$100?,&;$
@00+$*&,$/00,$1"4;$T"&+$.(4>*)='"/&$
1&(4&($?.1&($.1B$.('&+$C"&$,C&&$?"('&+&(;$N"#'&(4$*00+$2&+*..+$.-$*&,$
-.=","&%)+&0)$?+"#/,$I*"="--0$*)=-$20($'&$#.(/&$0/&(,$["="--.$^J".20(("$O"%"4"_B$'"&$
41..+2&+="&E'$.-$*00+$C.+',;$M01&($.(,4(0--&($3&;$R"&,$'&$2+"#*&"'$,&/&1.&,a$
I*"="--0$C&&,$'0,$3&$1&,$*00+$'00'$("&,$30=$?)((&($=&2&(;$G&($"('+"(/&('&$E"=1$
1&,$-+0>*,"/&$%&&='&($&($4>*"",&+&('&$1)3"&?$20($F+2.$Ih+,;$
@&')0!'),!!1)223'$$
$
Q@$NG$LQGRA$
B@;!W2,9&.#,1&,!!(#$!9&!-#//&.#,1!32,!9&!/&#+)&,&,!
N.,$2&+$(0$'&$@"''&=&&)C&($2"&+'&$'&$?&+?$'&$3./&(001'&$
i)0,&+,&1-&+'0/&(B$C00+.-$C&+'$4,"=$/&4,00($%"#$'&$C"44&="(/$
20($'&$4&"3.&(&(;$j)0,&+$,&1-&+$"4$K0,"#($2..+$2"&+$4&"3.&(&(;$
@&,$&&($2"&+,0=$C0('&="(/&($%=03&($C&$'&3&$.)'&$,+0'","&$("&)C$
=&2&($"(;$L&$&&+4,&$"4$.-$8$.?,.%&+B$00($*&,$%&/"($20($'&$*&+E4,;$
!&$C0('&=&($20($H.?4)1$2"0$D"=00+'B$D.-,"==&$&($H=&44)1$,&+)/$
(00+$H.?4)1B$&($.('&+/00($C0('&=&('$'&$%&/"((&('&$*&+E4,;$
!&$2&+,+&??&($.1$7c;c6$))+;$T&+301&=&($%"#$'&$?&+?$20($
H.?4)1$.1$7c;7:$))+;$L&$,C&&'&$C0('&="(/$"4$.-$5S$'&>&1%&+$"B$'&$'&+'&$.-$57$
100+,B$&($'&$=00,4,&$.-$56$#)(";$K0,&+$2.=/,$(0'&+&$"(E.+10,"&$.2&+$'&$,+0#&>,&($.-$
'"&$'0,0;$$
@&')0!'),!1&02')&')#,!
9
BB;!".)&6/:%#**&,!3))5!293&,'!&,!*&5/'!6&'!O%&2!T#'/'528!K#&.'$&!M#/(&&*!!&,!
U#,*&!T)/'!ʹ!I,).!)0!622,921!N!9&:&6(&5!
D0=2&+C&/&$0'2&(,4,"#'$100?,$)$401&($1&,$N*&0$
I",4,+0$&($J"&=,#&$T"4%&&?$&&($00(,0=$=",)+/"4>*&$
4>*"??"(/&($2..+$'&$0'2&(,4Z$&($?&+4,,"#';$D"(?&$
I.4,$ʹ$U(.=$2&+,&=,$*&,$2&+*00=$'0,$&+$0>*,&+$3",;$
T..+$10,&+"00=$C.+',$/&3.+/';$<$10/$)C$&"/&($
4>*"??"(/&($1&&$(00+$*)"4$(&1&(;$!&$2+0/&($&&($
%"#'+0/&$"($'&$10,&+"00=?.4,&(;$Q-/02&$,.,$
'.('&+'0/$$8$'&>&1%&+$%"#$
*"(?&-.4,?(.=k-=0(&,;(=$
I=00,4A$L.+-4?&+?$K&??)1a$F0(20(/A$56;66$))+;$
@&,$K&??)1$&($K0(?1&01&+,$
!
BD;!Q22.'#$9&,!)0!92,*9218!(#9921!&,!9&!-)&,/921&,!#,!9&!3&&5'#1!921&,!3))5!
T2/&,!
F=$4"('4$*&,$%.&?$D0('&="(/&($?.1&($>*+"4,&(&($%"#$&=?00+$
.1$1&,$&=?00+$,&$&,&(;$Q.?$C"#$/00($'",$4&"3.&($C&&+$&&($
00(,0=$?&+&($401&($&,&(;$G&($-00+$1&(4&($?.?&(B$
0('&+&($4>*)"2&($1&&$00($&($?.?&($&&($0('&+&$?&&+;$Q-$
*&,$.-/02&$E.+1)="&+$?)(,$)$00(/&2&($C0((&&+$)$1&&$
C"=,$&,&(B$&($C0((&&+$)$C"=,$?.?&(;$L&$100=,"#'&($.-$'0(?$
ʹ$&($%"''0/$3"#($+.W00=B$'"&$"($'&$2&&+,"/'0/&(,"#'$4.%&+;$!0,$C&$'00+1&&$
%&4-0+&($"4$2..+$&&($'"0>.(00=$-+.#&>,;$!&$&,&($4,&&'4$20($7b;66$ʹ$7V;66$))+;$
D"&+.('&+$&&($.2&+3">*,$20($'0,0$&($-=00,4A$
L0,)1$ $
$
$
I=00,4$
:$$(.2&1%&+$
'0(?'0/$$$$
@0+"0?&+?$H=&44)1$
7b$E&%+)0+"$
86$'0/&($
͚KŶƐ,ƵŝƐ͛ĞŝŶƵŵ$
8$100+,$ $
86$'0/&($
͚KŶƐ,ƵŝƐ͛ĞŝŶƵŵ$
77$$100+,$
%"''0/$ $
@0+"0?&+?$H=&44)1$V$0-+"=$$
$
7b$100+,$
86$'0/&($
͚KŶƐ,ƵŝƐ͛ĞŝŶƵŵ$
5:$100+,$
86$'0/&($
͚KŶƐ,ƵŝƐ͛ĞŝŶƵŵ$
7$0-+"=$ $
86$'0/&($
͚KŶƐ,ƵŝƐ͛ĞŝŶƵŵ$
$
BF;!K2/'35)7-!)4!12/'%&&5!+#$,!#,!9&![#,'!V2,!)4!9&![#,'!Q2515#&'!
J&+&/&='$3&,,&($C&$'&$'&)+&($20($.(3&$?&+?&($.-&($2..+$
%&3.&?&+4;$Q-$'&$30,&+'0/&($20($?&+?&(-0'$&($%"#$
,&(,..(4,&=="(/&($.E$0('&+&$&2&(&1&(,&(;$G+$3"#($'0($0=,"#'$
,C&&$/04,2+.)C&(9/04,*&+&($00(C&3"/$.1$%&3.&?&+4$,&$
.(,20(/&(B$&&($/&4-+&?#&$00($,&$?(.-&($.E$2+0/&($,&$
%&0(,C..+'&(;$D&,$"4$=&)?$C&+?;$@&(4&($3"#($/&l(,&+&44&&+'$
10
&($'0,$=&"',$,.,$1.."&$.(,1.&,"(/&(;$J&&E$)$..?$.-$0=4$/04,*&&+9/04,2+.)C;$
\(=">*,"(/&(A$[&1(W$H.)10$ʹ$20($'&+$K00(B$,&=;$6:b$5:857c5$
$
Gm]<OM\GMA$
BH;!S225!9&!2(9#$!32,!\%&3&')1,&!32,!35#$921!B!')'!&,!6&'!+),921!F!$2,725#!
L&$0%'"#$20($]*&2&,./(&$"4$&&($%&(&'">,"#(&+$
?=..4,&+$"($'&$H&=/"4>*&$F+'&((&(B$/&4,">*,$"($
7V5S;$D&,$"4$"($')%%&=$.-3">*,$"(,&+(0,".(00=A$
G(&+3"#'4$3"#($'&$1.(("?&($)",$,0=$20($=0('&($
0E?.14,"/B$C00+.('&+$R&'&+=0(';$F('&+3"#'4$C"#',$
]*&2&,./(&$3">*$/&*&&=$00($*&,$%&2.+'&+&($20($
'&$&&(*&"'$,)44&($0==&$>*+"4,&(&($&($"($*&,$
%"#3.('&+$,)44&($'&$Q+,*.'.n&$U&+?$1&,$*00+$
HW30(,"#(4&$=",)+/"&$&($'&$O..14Z?0,*.="&?&$U&+?$1&,$*00+$K0,"#(4&$+",)4;$$L",$
=00,4,&$?.1,$,.,$)",'+)??"(/$"($'&$"(,&+(&$.+/0("40,"&$20($*&,$?=..4,&+;$F==&$
1.(("?&($3"#($?0,*.="&?&$%&(&'">,"#(&(B$100+$.(/&2&&+$'&$*&=E,$20($'&$1.(("?&($
=&&E,$&($2"&+,$'&$=",)+/"&$2.=/&(4$'&$HW30(,"#(4&$+",)4a$*&,$0('&+&$'&&=$2.=/,$'&$
K0,"#(4&$+",)4;$H"#$*&,$?=..4,&+$"4$'00+.1$3.C&=$&&($HW30(,"#(4&$0=4$&&($K0,"#(4&$
?&+?;$L&3&$+&"4$"4$')4$..?$&&($?&(("410?"(/$1&,$'&$.&>)1&(&$"($'&$%+&&'4,&$3"(;$
!&$2&+,+&??&($.-$2+"#'0/$3.$+.('$,"&(&($&($?.1&($'0($+.('$'+"&g($00($"($
]*&2&,./(&;$!&$2&+,+&??&($C&&+$.-$3.('0/1"''0/B$'"+&>,$(0$$*&,$1"''0/&,&(;$
T"&+$#00+$/&=&'&($C0+&($C&$&+$..?$1&,$&&($/+.&-;$G&($%"#3.('&+&$&+20+"(/$C00+$
'&$'&&=(&1&+4$20($,.&($(./$/&+&/&='$.-$,&+)/$?.1&(;$G+$"4$-=00,4$2..+$10n"100=$
7:$-&+4.(&(a$')4$C&&4$&+$4(&=$%"#;$
1)-6-0%A!?-02)!"$/,!ʹ!B0$5!)0!46#-!C)#5$37!
@&')0!'),!1)223'!)0!1&02')&')#,!
!
BJ;!]&#/!,225!"&5.#$,!
T0($'"(4'0/$5e$,.,$&($1&,$3.('0/$c7$1&"B$'"+&>,$(0$'&$
I"(?4,&+'0/&(B$$.+/0("4&+&($C"#$&&($+&"4$(00+$H&+="#(;$
!&$+&"3&($1&,$'&$,+&"($$&($C&$.2&+(0>*,&($"($&&($*.,&=$
"($H&+="#($ʹ$]*0+=.,,&(%)+/B$"($*&,$>&(,+)1$20($C0,$
2..+$'&$20=$20($'&$1))+$!&4,$ʹ$H&+="#($C04;$D"(?&$&($
F'+"$$3"#($"($'&$2"&+$#0+&($'0,$*)($'.>*,&+$.-$'&$
R&'&+=0('4&$01%0440'&$"($H&+="#($C&+?,&$&($..?$"($
H&+="#($C..('&B$2&=&$?&+&($"($H&+="#($/&C&&4,;$P&$?&((&($'&$4,0'$/.&'B$&($=0,&($)$
'"&$/+00/$3"&($&($%&=&2&(;$Q-$*&,$-+./+0110$4,00($.;0;$A$
&&($?&+?'"&(4,$"($'&$U0"4&+$!"=*&=$J&'h>*,("4$U"+>*&B$'&$O&">*4,0/B$*&,$D.=.>0)4,$
@.()1&(,B$*&,$I&+/01.1$@)4&)1$1&,$.;0;$'&$%&+.&1'&$\4,0+-..+,$)",$H0%&=$
ƚĞŶƚŝũĚĞǀĂŶĚĞ:ŽŽĚƐĞďĂůůŝŶŐƐĐŚĂƉ͕,ĂƵƐĚĞƌtĂŶŶƐĞĞǁĂĂƌĚĞŶĂnjŝ͛ƐďĞŐŝŶũĂƌĞŶ
11
86$%&4=.,&($,.,$'&$2&+("&,"/"(/$20($'&$X.'&(B$I.,4'01$^D.==0('4&$!"#?$&($I0=&"4$
M0(4$M.)>"_B$*&,$H.(*.&EE&+$D)"4$B$&($*&,$,&>*("&?$1)4&)1;$$
L&$?.4,&ŶnjƵůůĞŶnjŽƌŽŶĚĚĞΦϲϬϬƉĞƌƉĞƌƐŽŽŶďĞĚƌĂŐĞŶ͕ĚĂƚŝƐŝŶĐůƵƐŝĞĨĂůůĞ
ŵĂĂůƚŝũĚĞŶĞŶĂůůĞĞŶƚƌĞĞ͛Ɛ͘DĂdžŝŵƵŵĂĂŶƚĂůĚĞĞůŶĞŵĞƌƐ͗ϮϬ͘$
1)-6-0%!)0!$#%&0-/&,-)A!B))/!D)8)'&:!?-02)!"$/,!ʹ!B0$5!)0!46#-!C)#5$37!
!
IFMNQOFFNA!
BL;!T&5/)),.#$*!%7#/(&+)&*!
G+$?)((&($0==&+=&"$+&'&(&($3"#($C00+.1$#&$-&+4..(="#?$
*)"4%&3.&?$C&(4,A$%&*.&E,&$.1$&&(4$,&/&($"&10('$00($,&$
-+0,&(B$'"(/&($"($'&$/&1&&(,&$'"&$#&$*../$3",,&(B$.E$
/&C..($.1'0,$#&$'&$.)'&+="(/$.E$'&$-+&'"?0(,$C&=$&&(4$
-&+4..(="#?$C"=,$.(,1.&,&(B$.E$("&,$20($/+.&-4/&4-+&??&($
*.)',$&($,.>*$C&=$&&(4$1&,$"&10('$20($'&$?&+?$C"=,$
4-+&?&(;$M.14$%"&'&($C&$)$.(/&2+00/'$&&($*)"4%&3.&?$00(B$%;2;$.1'0,$&+$2..+$
"&'&+&&($C00+(&&1%0+&$.14,0('"/*&'&($3"#($C00+%"#$C0,$00('0>*,$20()",$'&$
/&1&&(,&$C&=$.-$3"#($-=00,4$"4;$@00+$0=4$#&$/&C..($C&=$&&(4$'&$'.1"(&&$.E$'&$
.)'&+="(/$C"=,$4-+&?&(B$.E$%&*.&E,&$*&%,$00($&&($2&+,+.)C&="#?$/&4-+&?B$$"4$'0,$
("&,$2..+$"&'&+&&($')"'&="#?;$F0+3&=,$)$'00+.1$("&,$..?$/&C..($.1$*)"4%&3.&?$,&$
2+0/&(;$R)$2"0$*&,$.-/02&E.+1)="&+B$100+$..?$=0,&+$0=4$'00+$00(=&"'"(/$,.&$"4;$H&=$
/&+)4,$1&,$'&!-+&'"?0(,$.E$)C$C"#?.)'&+="(/$2..+$&&($0E4-+00?;$Q.?$%&4,00,$'&$
1./&="#?*&"'$'0,$)$&&($204,&$%&3.&?&+$?+"#/,$'"&$dd($?&&+$"($'&$100('$.E$dd($?&&+$
"($'&$3&4$C&?&($%"#$)$=0(/4$?.1,;$!"=,$)$'00+$/&%+)"?$20($10?&(B$'0($?)(,$)$..?$
'0,$2"0$*&,$.-/02&E.+1)="&+$?&(%00+$10?&(;$
$
12
13
14
15
\RDQ<LMQIJFTG$
MNFONPQRLFJ$ $
$
$
$
$
7;$K&3&($"($'&$&+&'"&(4,$ $
$
$
$
5;$P0(//+.&-$
$
$
$
$
$
c;$G&($1)3"?0=&$%"#'+0/&$"($'&$&+&'"&(4,$ $
$
8;$L"&(4,&($2..+$#.(/$&($.)'$
$
$
$
:;$U.EE"&'+"(?&($2..+$'&$'"&(4,$ $
$
$
e;$J.&'&+&($"(301&=&($2..+$'&$2.&'4&=%0(?$
$
S;$T&4-&+4$
$
$
$
$
$
b;$N.(&&=$"($'&$&+&'"&(4,$ $
$
$
$
JGMIOGUMJOQGIGR$
V;$@&&=&3&($.-$C.&(4'0/$
$
$
$
76;J&=.2&($R)$J+.&-$
$
$
$
$
77;$I+00,/+.&-$'&+,"/&+4$&($2&&+,"/&+4$
$
$
R\G<!$HGKG\LMIKFR$
$
$
$
$
75;$D)"4?01&+/&4-+&??&($$
$
$
$
7c;$J&1&&(,&$ʹ$02.('$ $
$
$
$
TQQO$XQRJGOGR$
78;$X&)/'>=)%$ $
$
$
$
$
7:;$N"&(&+>0,&>*&4&$
$
$
$
$
7e;$K)(>*/&4-+&??&($2..+$7b$ʹ$5c$#0+"/&($ $
$
TQQO$MGR\QOGR$
7e;$J&4-+&?41.+/&($.-$75$(.2&1%&+$&($7b100+,$ $
7b;$U&+4,2"&+"(/$.-$56$'&>&1%&+$ $
$
$
KGPGR$
7V;$H.&?%&4-+&?"(/$
$
$
$
$
[\K@$
56;$&ŝůŵǀŽŽƌƐƚĞůůŝŶŐ͚,ĞĂǀĞŶ͛$
$
$
$
Q@$NG$LQGR$
57;$!0('&="(/$%"#$'&$C"44&="(/$20($'&$4&"3.&(&($
$
55;$H=.&14>*"??&($2..+$0'2&(,$&($?&+4,$ $
$
5c;$@00=,"#'&($'0(?'0/B$%"''0/B$86$'0/&($ $
$
58;$J04,*&&+$.E$/04,2+.)C$"($'&$M"(,$#0($.E$M"(,$@0+/+"&,$
UKQQMNGO$
5:;$R00+$'&$0%'"#$20($]*&2&,./(&$ $
$
$
5e;$O&"4$(00+$H&+="#($
$
$
$
$
IFMNQOFFN$
5b;$I&+4..(="#?$*)"4%&3.&?$
$
$
$
16
%=0'3"#'&$5$
%=0'3"#'&$5$
%=0'3"#'&$5$
%=0'3"#'&$c$
%=0'3"#'&$c$
%=0'3"#'&$c$
%=0'3"#'&$8$
%=0'3"#'&$8$
%=0'3"#'&$8$
%=0'3"#'&$:$
%=0'3"#'&$:$
%=0'3"#'&$:$
%=0'3"#'&$:$
%=0'3"#'&$e$
%=0'3"#'&$e$
%=0'3"#'&$e$
%=0'3"#'&$S$
%=0'3"#'&$S$
%=0'3"#'&$b$
%=0'3"#'&$b$
%=0'3"#'&$b$
%=0'3"#'&$V$
%=0'3"#'&$V$
%=0'3"#'&$76$
%=0'3"#'&$76$
%=0'3"#'&$76$
%=0'3"#'&$77$
%=0'3"#'&$77$
%=0'3"#'&$75$

Resultados nacional mayores Cartagena 2015