@I9DF=BH:CF,I779GG=BC@@9;9\B8=GD9BG56@9,HI8M,?=@@G
5B8-=A9&5B5;9A9BH,HF5H9;=9G
@I9DF=BH:CF,I779GG=BC@@9;9
\B8=GD9BG56@9,HI8M,?=@@G5B8-=A9
&5B5;9A9BH,HF5H9;=9G
J
5J9=@@CB
%=B85FI79"=@@@=G9%5ACF95IL)<M@@=G'=GG=@5-<CA5G
)F=9GH9F
+96IG CIB85H=CB
@I9DF=BH:CF,I779GG=BC@@9;9\B8=GD9BG56@9,HI8M,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M 5J9=@@CB =G
@=79BG98IB89F5 F95H=J9CAACBGHHF=6IH=CB\BH9FB5H=CB5@%=79BG99L79DHK<9F9CH<9FK=G9BCH98
-<=GKCF?=G@=79BG98IB89FH<9F95H=J9CAACBGHHF=6IH=CB\BH9FB5H=CB5@%=79BG99L79DHK<9F9CH<9FK=G9
BCH98-CJ=9K57CDMC:H<=G@=79BG9J=G=H<HHD7F95H=J97CAACBGCF;@=79BG9G6M
98=75H=CB
For Brooklyn Grace and Molly Scarborough: May you
enjoy learning and studying. May you use your time
wisely.
“May the road rise up to meet you. May the wind
always be at your back.
– Irish Blessing
CBH9BHG
%=79BG9
J===
6CIHH<9IH<CFG
=L
CF9KCF8
L==
)F9:579
L===
0<5HHCLD97H:CFH<9,HI89BH
LL
7?BCK@98;9A9BHG
LL=
\BHFC8I7H=CB
.'\-%.'"
<5DH9F)5GG=CB
<5DH9F0<5HSGC@@9;9 CF

<5DH9F0CF8GC:0=G8CA-<9,HI89BHLD9F=9B79

<5DH9F0CF8GC:0=G8CA)F57H=79)F57H=79)F57H=79

<5DH9F,D95?=B;-<9%5B;I5;9C:C@@9;9

<5DH9F0CF8GC:0=G8CA0<M,C&5BM*I9GH=CBG

<5DH9F)@5BB=B;C@@9;9,7<98I@9

<5DH9F0CF8GC:0=G8CA-<9G9F9H<99GH295FGC:2CIF%=:9

<5DH9F0CF8GC:0=G8CA0=H<5%=HH@9"9@D:FCA&M F=9B8G

.'\--\&-((%,',-.2'/\+('&'-
<5DH9F-=A9&5B5;9A9BH-<9CFM

<5DH9F0CF8GC:0=G8CA-=A9\GCB2CIF,=89

<5DH9F-=A9&5B5;9A9BH+95@=HM

<5DH9F0CF@8/=9K5B8,9@:Z757M

<5DH9F)FC7F5GH=B5H=CB

<5DH9F0CF8GC:0=G8CA5B2CI%=GH9BHC2CIFG9@:

<5DH9F-<95G=7GC:,HI8M,?=@@G

.'\-(%%!%/%+\-\%-"\'$\'!'+\'!
<5DH9F0CF8GC:0=G8CA-<=B?=B;F=H=75@@M5B8F95H=J9@M

<5DH9FCADF9<9B8=B;C@@9;9%9J9@+958=B;6M.G=B;H<9
+958=B;DDF9BH=79G<=DDDFC57<

<5DH9F!9HH=B;H<9&CGH(IHC:2CIF-9LH6CC?G

<5DH9F+958=B;-9LH6CC?G

<5DH9FCBH9LH@I9G5B8@CG9+958=B;:CF%=H9F5HIF9

.'\-%\,-'\'!''(--$\'!
<5DH9F)F9D5F5H=CB:CF'CH9-5?=B;

<5DH9F-5?=B;'CH9G=B@5GG

.'\-&&(+2)+\'\)%,'-"'\*.,
<5DH9F&9ACFM

<5DH9FCB79BHF5H=CB5B8=GHF57H=CB

.'\--,--$\'!,-+-!\,
<5DH9F)F9&=85B8)CGH-9GH-5?=B;,HF5H9;=9G

<5DH9F-9GH-5?=B;,HF5H9;M,D97=X7G

.'\-"%-"
<5DH9F'IHF=H=CB

<5DH9FL9F7=G9

<5DH9F,@99D

<5DH9F,HF9GG

<5DH9F0CF8GC:0=G8CA 5=@IF9\G'CH5B(DH=CB

.'\-('%.,\('
<5DH9F CIB85H=CBGC:7589A=7,I779GG0CF8GC:0=G8CA
CB7@IG=CB

<5DH9FCB7@IG=CB

DD9B8=L(F=;=B5@0CF?G

DD9B8=L&I@H=A98=5%=B?G

DD9B8=L,HI8M,?=@@GGG9GGA9BH

DD9B8=L+97CAA9B898+958=B;5B8/=9K=B;

DD9B8=L+9GCIF79G:CF8I75HCFG

/9FG=CB"=GHCFM

779GG=6=@=HMGG9GGA9BH

!@CGG5FM

%=79BG9
=C#8'C+..10
*+5914-+5.+%'05'&70&'4# 4'#6+8'1//105 664+$76+1006'40#6+10#."
+%'05' ':%'269*'4'16*'49+5'016'&
""17#417#4'(4'(4''61''61
] Share X<HIR:G=K>=BLMKB;NM>MA>F:M>KB:EBG:GRF>=BNFHK?HKF:M
] Adapt XK>FBQMK:GL?HKF:G=;NBE=NIHGMA>F:M>KB:E?HK:GRINKIHL>>O>G<HFF>K<B:EER
*'.+%'0514%#00164'81-'6*'5'(4''&1/5#5.10)#5;17(1..196*'.+%'05'6'4/5
0&'46*'(0&'46*'(1..19+0)6'4/51..19+0)6'4/5
] Attribution X 5HNFNLM@BO> :IIKHIKB:M><K>=BMIKHOB=>:EBGDMHMA>EB<>GL>:G= BG=B<:M>B?
<A:G@>LP>K>F:=>5HNF:R=HLHBG:GRK>:LHG:;E>F:GG>K;NMGHMBG:GRP:RMA:M
LN@@>LMLMA>EB<>GLHK>G=HKL>LRHNHKRHNKNL>
] No additional restrictions X5HNF:RGHM:IIERE>@:EM>KFLHK M><AGHEH@B<:EF>:LNK>L MA:M
E>@:EERK>LMKB<MHMA>KL?KHF=HBG@:GRMABG@MA>EB<>GL>I>KFBML
6CIHH<9IH<CFG
/D37::=<C@/B=@=/CB6=@/<227B=@=4 Blueprint for Success in College:Blueprint for Success in College:
Indispensable Study Skills and Time Management StrategiesIndispensable Study Skills and Time Management Strategies
:O> BEEHG >:KG>= : ;:<A>EHKZL =>@K>> BG LH<BHEH@R ?KHF MA> 1GBO>KLBMR H? :EB?HKGB: :M /:GM:
KNS :G= : F:LM>KZL =>@K>> BG <HNGL>EBG@ ?KHF MA> 1GBO>KLBMR H? /:G B>@H $BL `KLM <:K>>K :G=
I:LLBHG P:L <H:<ABG@ ;:LD>M;:EE PAB<A A> =B= ?HK L>O>G R>:KL :M MA> 1GBO>KLBMR H? :EB?HKGB: :M /:G
B>@H "HEEHPBG@ : R>:K H? LN;LMBMNM> M>:<ABG@ ' ?HNK R>:KL PHKDBG@ BG MA> >GM>KM:BGF>GM
=>I:KMF>GM ?HK MA> /:G B>@H ,:=K>L F:CHK E>:@N> ;:L>;:EE HK@:GBS:MBHG :G= : R>:K :L : IKH=N<M
:G:ERLM BG MA> OB=>H @:F> BG=NLMKR :O> <HGMBGN>= MH INKLN> ABL I:LLBHG H? <HNGL>EBG@ :G=
M>:<ABG@:MMA><HFFNGBMR<HEE>@>E>O>E
L : M>GNK>= IKH?>LLHK :G= <HNGL>EBG@ ?:<NEMR :M #KHLLFHGM HEE>@> :O> >GCHRL <HGG><MBG@
PBMA LMN=>GML $> =H>L ABL ;>LM MH D>>I NI PBMA MA> G>QM @>G>K:MBHG :G= MA>BK NL> H? M><AGHEH@R
BG :G= HNM H? MA> <E:LLKHHF $BL I:LLBHG A:L GHM <>:L>= ?KHF ABL 1/ <HFF>G<>F>GM LI>><A MH
IK>L>GMBG@ :M EH<:E :G= G:MBHG:E <HG?>K>G<>L :O> K>LB=>L BG :KEL;:= :EB?HKGB: PBMA ABL PB?>
MPH=:N@AM>KL:G=R>EEHPE:;K:=HK(N<R
0ABL +!. +I>G !=N<:MBHG:E .>LHNK<>L IKHC><M A:L M:D>G ?NEE :=O:GM:@> H? MA> [ .ZL\ HK
I>KFBLLBHGL H? +!. MA> :;BEBMR MH .>M:BG .>NL> .>OBL> .>FBQ :G= .>=BLMKB;NM> <HGM>GM ?HK
>=N<:MBHG:E INKIHL>L %M BL PBMA @K>:M @K:MBMN=> MA:M % BGMKH=N<> MA> :NMAHKL H? MA> +!. M>QML PAHL>
<HGM>GM P:L K>M:BG>= K>NL>= K>OBL>= :G=HK K>FBQ>= BG LHF> P:R :G= <HGMKB;NM>= MH MABL `G:E
IKH=N<M %G : ?>P BGLM:G<>L % A:O> :ELH BG<EN=>= MA> K:MBHG:E> ?HK MA>BK +!. M>QM (BGDL MH >:<A H?
MA>HKB@BG:E+!.M>QMLMA>BKEB<>GL>L:G=I>>KK>OB>PL<:G;>?HNG=BGII>G=BQ
7<2/@C137::1=<B@70CB7<5/CB6=@B==::353&C113AA
(BG=: KN<> $BEE BL MA> =BK><MHK H? =BLM:G<> E>:KGBG@ :M #HN<A>K HEE>@> BG :EMBFHK> ):KRE:G=
PA>K> LA> PHKDL PBMA @K:=N:M> LMN=>GML :G= ?:<NEMR MH A>EI MA>F MAKBO> BG : @EH;:E E>:KGBG@
>GOBKHGF>GM $>K <:K>>K BG >=N<:MBHG LI:GL =><:=>L H? M><AGHEH@R @KHPMA :G= <A:G@> ;NM
BL <>GM>K>= HG : EHO> H? M>:<ABG@ :G= E>:KGBG@ :G= HG MA> K>P:K=L H? <HGMBGNBG@ >=N<:MBHG
EB?>EHG@ E>:KG>K A>KL>E? (BG=: >:KG>= : ;:<A>EHKZL =>@K>> BG K:=BH M>E>OBLBHG :G= `EF :M MA>
1GBO>KLBMR H? ):KRE:G= HEE>@> ,:KD :G= : F:LM>KZL BG >=N<:MBHG :G= ANF:G =>O>EHIF>GM :M
MA> #>HK@> 3:LABG@MHG 1GBO>KLBMR BG : =BLM:G<> E>:KGBG@ IKH@K:F MA:M L>M LM:G=:K=L ?HK AB@A>K
>=N<:MBHG H_>KBG@L +NMLB=> H? A>K ?NEEMBF> PHKD :M #HN<A>K (BG=: ?K>>E:G<>L :L : PKBM>K :G=
BGLMKN<MBHG:E =>LB@G>K XINKLNBML MA:M :EB@G>= A>K PBMA (NF>G (>:KGBG@ HG MA> IKH=N<MBHG H?
MA>BK HEE>@> /N<<>LL <HNKL> ;NBEM A>:KMBER PBMA HI>G >=N<:MBHG K>LHNK<>L :G= HKB@BG:E PKBMBG@
?:OHKBM> JNHM> >Q>FIEB?RBG@ A>K IKH?>LLBHG:E IABEHLHIAR BL ?KHF KMANK  E:KD> ['(14' ;17
$'%1/' 611 '064#0%'& 9+6* )14)'175 )#&)'65 #0& /'5/'4+<+0) 8+&'1 &+52.#;5 .'6 /' 4'/+0& ;17 6*#6
+0(14/#6+10 +5 016 -019.'&)' -019.'&)' +5 016 9+5&1/ #0& 9+5&1/ +5 016 (14'5+)*6 #%* )4195 176 1(
6*'16*'4#0&9'0''&6*'/#..?
:7A3/;=@3/CF/CB6=@=4 A Di9erent Road To College: A Guide for TransitioningA Di9erent Road To College: A Guide for Transitioning
Non-traditional StudentsNon-traditional Students
EBL> (:FHK>:NQ BL A:L : EHG@ ABLMHKR H? M>:<ABG@ GHGMK:=BMBHG:E LMN=>GML PAH :K> IK>I:KBG@
?HK MA> #! :G= MK:GLBMBHGBG@ MH <HEE>@> /A> M>:<A>L : <E:LL <:EE>= [!O>KRMABG@ 5HN 3:GM MH
'GHP ;HNM HEE>@> >?HK> 5HN /M:KM\ :EHG@ PBMA $R;KB= #! <HNKL>L :M (:G> HFFNGBMR
HEE>@> BG !N@>G> +K>@HG EBL> BL DGHPG ?HK A>K PBEEBG@G>LL MH E>:KG :G= NL> G>P M><AGHEH@B>L
BG MA> <E:LLKHHF LN<A :L =B@BM:E LMHKRM>EEBG@ E>:KGBG@ F:G:@>F>GM LRLM>FL :G= HMA>K HGEBG>
K>LHNK<>L /A> BL :G :=OH<:M> H? LMN=>GM LN<<>LL 0AKHN@AHNM MA> R>:KL LA> A:L =>FHGLMK:M>= A>K
PBEEBG@G>LL MH M>:<A HMA>K IKH?>LLBHG:EL AHP MA>R FB@AM :ELH BFIE>F>GM BGGHO:MBO> M><AGHEH@B>L
BG MA> <E:LLKHHF 0ABL R>:K LA> MHHD HG MA> <A:EE>G@> H? PKBMBG@ :G HI>G LHNK<> M>QM;HHD
MAKHN@A : @K:GM LA> K><>BO>= ?KHF HI>GHK>@HGHK@ MBME>= C+@'4'06 1#& 1 1..')' 7+&' (14
4#05+6+10+0) 1064#&+6+10#. 67&'065 0ABL ?K>> K>LHNK<> BL =>LB@G>= MH >G@:@> LMN=>GML BG L>>BG@
MA>FL>EO>L :L <HEE>@> LMN=>GML :G= NG=>KLM:G=BG@ MA> <HFIE>QBMR H? PA:M MA:M F>:GL MH MA>BK EBO>L
:LP>EE:LA>EIBG@MHNGEH<DMA><HGM>QMN:E<HFIE>QBMB>LH?MA><NEMNK>H?<HEE>@>
#6G::7A!7AA7://CB6=@=4 How to Learn Like a Pro!How to Learn Like a Pro!
,AREEBL *BLLBE: A:L M:N@AM !_><MBO> (>:KGBG@ :G= /MN=R /DBEEL <E:LL>L BG AB@A L<AHHEL :G=
<HFFNGBMR <HEE>@>L ?HK HO>K MP>GMR R>:KL /A> :ELH M>:<A>L PKBMBG@ :G= <HEE>@> IK>I:K:MHKR
<E:LL>L :M (:G> *BLLBE: A:L ;>>G : ?K>>E:G<> :G= <HGMK:<M>= PKBM>K ?HK HO>K MABKMR R>:KL PBMA
<K>=BML BG<EN=BG@ G>PLI:I>K K>IHKM:@> ?>:MNK> :KMB<E>L :G= ANF:G BGM>K>LMBGLIBK:MBHG:E F:@:SBG>
:KMB<E>L :G= =>OHMBHG:EL /A> BL :G :P:K=PBGGBG@ ?HKF>K ANFHK G>PLI:I>K <HENFGBLM /A> BL MA>
:NMAHK H? '06'0%'  4'#6*+0) +(' 061 '06'0%'5 *#6 +)*6 5 !'.. ' 75*+0) 2 C#+5+'5
,KN?KH<D ,K>LLHMMHGPHH= ,K>LL @K:=>L :=NEM :G= L>EEL ANFHK;:L>= E:G@N:@> :KML E>LLHGL
:G=PHKDLA>>MLMAKHN@A0>:<A>KL,:R0>:<A>KL<HF
'6=;/A#@73AB3@327B=@=4 Foundations of Academic Success: Words of WisdomFoundations of Academic Success: Words of Wisdom
AHI>BGLIBK>= >=N<:MHK =>=B<:M>= MH A>EIBG@ HMA>KL BGM>K:<M PBMA MA> ?NMNK> 0AHF:L  ,KB>LM>K
AHE=L : H<MHK H? !=N<:MBHG =>@K>> BG !Q><NMBO> (>:=>KLABI ?KHF /M &HAG "BLA>K HEE>@> : ):LM>K
H? /<B>G<> =>@K>> BG /MN=>GM ,>KLHGG>E =FBGBLMK:MBHG ?KHF /1*5 N_:EH /M:M> :G= : :<A>EHK
L 6CIHH<9IH<CFG
H? KML =>@K>> BG /><HG=:KR !G@EBLA !=N<:MBHG ?KHF "K>=HGB: PA>K> A> BL :ELH : F>F;>K H?
MA> ENFGB H:K= H? BK><MHKL $:OBG@ PHKD>= IK>OBHNLER BG MA> :K>:L H? :<:=>FB< LN<<>LL
LMN=>GM EB?> LMN=>GM E>:=>KLABI =>O>EHIF>GM HKB>GM:MBHG :<:=>FB< :=OBLBG@ :G= K>LB=>G<> EB?>
K ,KB>LM>K <NKK>GMER L>KO>L :L MA> BK><MHK H? 0K:GLBMBHG:E /MN=B>LLLBLM:GM ,KH?>LLHK :M /1*5
#>G>L>> HFFNGBMR HEE>@> BG :M:OB: *5 PA>K> A> BL :ELH :G :=OBLHK MH MA> <:FINL <A:IM>K
H? MA> ,AB 0A>M: ':II: $HGHK /H<B>MR MA> <A:BKI>KLHG H? ;HMA MA> <:=>FB< LL>LLF>GM :G=
MA> 0K:GLBMBHG:E /MN=B>L HFFBMM>>L :G= : F>F;>K H? ;HMA MA> %GLMBMNMBHG:E !_><MBO>G>LL :G=
MA> <:=>FB< />G:M> NKKB<NENF HFFBMM>>L ==BMBHG:EER K ,KB>LM>K BL : ?:<NEMR F>F;>K BG
MA> $B@A>K !=N<:MBHG /MN=>GM _:BKL =FBGBLMK:MBHG @K:=N:M> IKH@K:F :M /1*5 N_:EH /M:M>
BG N_:EH *5 A:L M:N@AM <HGO>KL:MBHG:E !G@EBLA :M ":M>< F>KB<:G: BG F>KB<:G: /UH ,:NEH
K:SBE :G= <:=>FB< /N<<>LL :M MA> MMB<: HKK><MBHG:E ":<BEBMR BG MMB<: *5 K ,KB>LM>K A:L
L>KO>= :L : <HGMKB;NMBG@ <A:IM>K :NMAHK ?HK MA> ;HHDL 55'55+0) 67&'06 '#40+0) +0 6*' 1//70+6;
#0& 91"'#4 1..')' /MRENL  :G= :#/+0+0) 6*' /2#%6 1( 1//70+6; 1..')'5 10 6*'
.1$#. !14-(14%' %#% #EH;:E  :G= A:L FHLM K><>GMER IN;EBLA>= MA> HI>G :<<>LL M>QM;HHD
170&#6+1051(%#&'/+%7%%'55!14&51(!+5&1/ +I>G/1*50>QM;HHDL
6CIHH<9IH<CFG L=
CF9KCF8
0H K>I>:M : JNHM> ?KHF MABL +I>G !=N<:MBHG:E .>LHNK<> M>QM;HHD MA> INKLNBM H? AB@A>K >=N<:MBHG
BL : [CHNKG>R GHM : =>LMBG:MBHG\X: =:NGMBG@ >G=>:OHK ?HK :GR G>P LMN=>GM 0A> @HH= G>PL
MA> :NMAHK :O> BEEHG A:L <:IMNK>= LHF> H? MA> >LL>GMB:E B=>:L <HG<>IML :G= ?HNG=:MBHGL ?HK
LMN=>GMLPAHA:O><AHL>GMHLM:KMMA>BKI:MAMHP:K=LAB@A>KE>:KGBG@
%M A:L ;>>G FR IE>:LNK> MH A:O> :O> :L : <HEE>:@N> +NK <HF;BG>= R>:KL H? M>:<ABG@ O:KBHNL
I>KLHG:E @KHPMA :G= =>O>EHIF>GM <HNKL>L LI:GL :IIKHQBF:M>ER  R>:KL #>G>K:EER MA>L> MRI>L
H? <HNKL>L :K> GHM =>>F>= [K>JNBK>=\ :M F:GR <HEE>@>L :G= NGBO>KLBMB>L $HP>O>K HNK >QI>KB>G<>
BG?HKFL NL MA:M MA>L> <HNKL>L :K> H?M>G `EE>= MH <:I:<BMR ;><:NL> MA> LMN=>GM INKLNBG@ MA>BK G>P
>=N<:MBHG:E CHNKG>R DGHPL MA:M BM M:D>L FHK> MA:G [PBLABG@ :G= AHIBG@\ MH ;> LN<<>LL?NE %M M:D>L
:IE:G
:O> :LDL RHN MA> LMN=>GM MH <HGLB=>K RHNK I:LLBHGL %GLB=> RHN PBEE `G= JNHM>L H;C><MBO>L
@H:EL :G= :ELH : K>E>O:GM LMHKR HK MPH ?KHF :O>ZL I>KLHG:E EB?> $> LA:K>L LHF> H? ABL EB?> :L :G
HI>G BGOBM:MBHG ?HK RHN MH GHM ;> :?K:B= MH JN>LMBHG MH F:D> FBLM:D>L MH MKNLM MH E>:KG :G=
NEMBF:M>ER<HGMBGN>RHNKCHNKG>RMHP:K=L;><HFBG@:;>MM>KLMN=>GM
$> <A:EE>G@>L LMN=>GML MH F>>M DGHP :G= >QI><M H;LM:<E>L 0A> CHNKG>R BL GHM : LMK:B@AM I:MA
NMHG>FNLMI>KLBLM:G=[,K>LL+G\
!GCHRRHNKCHNKG>R
0"HK=
,KH?>LLHK!F>KBMNL
#KHLLFHGMHEE>@>
)F9:579
*6GP*@=B3 '67A==9-A Di9erent Road to College: A Guide for TransitioningA Di9erent Road to College: A Guide for Transitioning
Non-traditional StudentsNon-traditional Students.I:7A3/;=@3/CF
)HLM M>QM;HHDL :O:BE:;E> HG MA> MHIB< H? <HEE>@> MK:GLBMBHGLN<<>LL MH=:R ?H<NL HG MA> MK:=BMBHG:E
R>:K HE= LMN=>GM :G= MA> G>>=L H? LHF>HG> EBOBG@ :P:R ?KHF AHF> ?HK MA> `KLM MBF> 0A> =>LBK>
MH <K>:M> MABL M>QM;HHD <HF>L ?KHF R>:KL H? >QI>KB>G<> A>EIBG@ #! :G= HMA>K GHGMK:=BMBHG:E
LMN=>GML MK:GLBMBHG MH <HFFNGBMR <HEE>@> :G= ;>RHG= "HK HO>K : =><:=> % A:O> M:N@AM : <E:LL
=>LB@G>= MH LI><B`<:EER A>EI GHGMK:=BMBHG:E LMN=>GML ;NBE= MA> <HGM>QMN:E DGHPE>=@> H? <HEE>@>
LRLM>FL MH A>EI MA>F ;> :;E> MH :=OH<:M> ?HK MA>FL>EO>L :G= G:OB@:M> MA> PHKE= H? <HEE>@> % A:O>
PBMG>LL>= MA> LMKN@@E> :G= <HG?NLBHG HG MA> I:KM H? LMN=>GML MKRBG@ MH NG=>KLM:G= MA> <HGM>QMN:E
:LI><ML H? <HEE>@> :G= =>O>EHI MA> <HG`=>G<> G>>=>= MH M:D> MA> MK:GLBMBHG:E LM>I 0A> <HGM>GM H?
MABL M>QM;HHD PBEE GHM ?H<NL HG MA> G>>=L RHNG@ :=NEML EBOBG@ :P:R ?KHF AHF> ?HK MA> `KLM MBF>
0A>K>PBEE;>GHLAHIIBG@EBLM?HK=HKFLNIIEB>L
0A> @H:E H? MA> ;HHD BL MH A>EI LMN=>GML NG=>KLM:G= AHP MH L>E><M MA> KB@AM <HEE>@> ?HK MA>F :G=
MA>G ;><HF> :<JN:BGM>= PBMA MA> BGG>K PHKDBG@L :G= E:G@N:@> H? <HEE>@> 0A> <HGM>GM PBEE ;>
BG?NL>= PBMA LMHKB>L :;HNM LMN=>GML PAH A:O> LN<<>LL?NEER F:=> MA> MK:GLBMBHG MH <HEE>@> :G= MA>BK
:=OB<>
0H=:RZL <E:LLKHHFL :K> BG<K>:LBG@ER ;><HFBG@ FHK> =BO>KL> ;R :@> >MAGB<BMR :G= EB?>
>QI>KB>G<> 3ABE> MA>BK IK>I:K:MBHG :G= I:MAP:R MH <HEE>@> F:R A:O> ;>>G GHGMK:=BMBHG:E MA>R
:K>:EE[LMN=>GML\HG<>MA>RA:O>>GKHEE>=BG<HEE>@>
#@34/13B= Foundations of Academic Success: Words of Wisdom –Foundations of Academic Success: Words of Wisdom – '6=;/A#@73AB3@
[/N<<>LL =H>LGZM <HF> MH RHN^RHN @H MH BM\ 0ABL JNHM> ;R K ):KO: HEEBGL L>ML MA> LM:@> ?HK
MA> CHNKG>R RHN :K> :;HNM MH M:D> 5HNK LN<<>LL AHP>O>K RHN <AHHL> MH =>`G> BM BL P:BMBG@ ?HK
RHN :G= 170&#6+105 1( %#&'/+% 7%%'55 !14&5 1( !+5&1/  !1! BL RHNK @NB=> MH RHNK
LN<<>LL /HF> F:R ;>EB>O> MA:M LN<<>LL EHHDL EBD> : LMK:B@AM :G= G:KKHP EBG> MA:M <HGG><ML MA> =HML
;>MP>>G PA>K> RHN :K> :G= PA>K> RHN :K> @HBG@ ;NM MA> MKNMA BL MA:M LN<<>LL EHHDL FHK> EBD> :
AHMF>LLH?MPBLML:G=MNKGL<NKO>L:G=;NFIL:G=ANK=E>L:G=:EM>KG:M>I:MAP:RL
,NMMBG@ MABL M>QM;HHD MH@>MA>K P:L <A:EE>G@BG@ ;><:NL> MA>K> BL LH FN<A MH M>EE RHN :L RHN
>F;:KD HG RHNK <HEE>@> CHNKG>R % A:O> PHKD>= PBMA <HEE>@> LMN=>GML HG :<:=>FB< LN<<>LL :M :
GNF;>K H? <HEE>@> <:FINL>L :G= A:O> ANGM>= ?HK MA> FHLM >_><MBO> :G= FHLM :_HK=:;E> <HEE>@>
LMN=>GM :<:=>FB< LN<<>LL M>QM;HHD ;NM <HNE= G>O>K `G= >O>KRMABG@ % P:GM>= MH M>:<A BG HG> ;HHD
/H%`@NK>=MA>:GLP>KP:LMHPKBM>FRHPGM>QM;HHD
(BD> :GR @HH= K>L>:K<A IKHC><M MA> HNM<HF> P:L GHM >Q:<MER PA:M % >QI><M>= %G :==BMBHG MH
: AHLM H? MKN>MHEB?> LMHKB>L PKBMM>G ;R K>:E I>HIE> PAH A:O> LN<<>LL?NEER G:OB@:M>= MA> CHNKG>R
MAKHN@A <HEE>@> MA> `KLM =K:?M H? MA> M>QM;HHD BG<EN=>= >O>KRMABG@ :G= FHK> MA:M MA> HMA>K
LBFBE:KERMA>F>=M>QM;HHDL:;HNM<HEE>@>LMN=>GM:<:=>FB<LN<<>LL=H
+G<> MA> `KLM =K:?M P:L `GBLA>= % =><B=>= MH M>LM=KBO> FR G>P M>QM;HHD PBMA MA> LMN=>GML BG
FR "BKLM 5>:K !QI>KB>G<> <E:LL MH L>> PA:M MA>R MAHN@AM % `@NK>= PAH ;>MM>K MH @BO> F> ?>>=;:<D
HG MA> M>QM;HHD MA:G :<MN:E LMN=>GML PAH PHNE= NL> MA> M>QM;HHD BG <E:LL KB@AM % @:O> MA> `KLM
=K:?M H? MA> M>QM;HHD ?:<ML :G= `@NK>L :G= :EE MH FR LMN=>GML MH K>:= K>OB>P :G= K>a><M NIHG
%M MNKG>= HNM MA:M MA> IB><>L MA:M FR LMN=>GML E>:KG>= MA> FHLM ?KHF P>K> MA> MKN>MHEB?> LMHKB>L
0A>R >BMA>K =B=GZM K>:= HK ;:K>ER @E:G<>= HO>K MA> ?:<ML :G= `@NK>L ;NM IKHOB=>= O>KR IHLBMBO>
?>>=;:<D :G= >O>G K>F>F;>K>= MA> PHK=L H? PBL=HF ?KHF K>:E I>HIE> PAH A:O> LN<<>LL?NEER
G:OB@:M>=MA>CHNKG>RMAKHN@A<HEE>@>
% @N>LL BM F:D>L L>GL> LMN=>GML EHO> PA>G K>:EEB?> LMHKB>L :K> BG?NL>= BGMH MA> :<MBOBMB>L :G=
E>LLHGL ,ENL :L : GNF;>K H? LMN=>GML MHE= F> MA> ?:<ML :G= `@NK>L HG MHIB<L LN<A :L GHM>M:DBG@
:G= AHP F:GR AHNKL MH LMN=R I>K P>>D <:G ;> ?HNG= ;R L>:K<ABG@ HGEBG> :G= <:G O:KR ;R I>KLHG
3A:M K>:EER F:MM>K>= MH LMN=>GML P>K> MA> K>:EEB?> PHK=L H? PBL=HF MA:M RHN <:GZM `G= HGEBG>
0ANL 170&#6+105 1( %#&'/+% 7%%'55 !14&5 1( !+5&1/  !1! :L % EHOBG@ER <:EE BM >F>K@>=
% LA:K> MABL LMHKR ;><:NL> FR BGM>G=>= HNM<HF> MH ;> MA> :NMAHK H? MA> PHKE=ZL ;>LM HI>G :<<>LL
<HEE>@> LMN=>GM :<:=>FB< LN<<>LL M>QM;HHD P:L GHM >Q:<MER PA:M % >QI><M>= BM MH ;> 0A> L:F>
BL MKN> H? RHNK CHNKG>R MAKHN@A <HEE>@> :G= RHNZEE K>:= FHK> :;HNM MA:M BG MA> LMHKB>L KB@AM A>K>
BG  !1! 5HNZEE `G= MA:M MABL BL GHM RHNK MRIB<:E <HEE>@> M>QM;HHD ?NEE H? <HG<K>M> ?:<ML :G=
`@NK>L GHK =H>L BM M>EE RHN AHP MH LN<<>>= *H M>QM;HHD <:G MKNER =H MA:M ?HK RHNXLN<<>LL BL
=>`G>= =B_>K>GMER ?HK >O>KRHG> 0A> LMHKB>L BG  !1! :K> K>E>O:GM K>E:MBHG:E :G= K>a><MBO>
0A> :NMAHKL P>E<HF> RHN BGMH MA>BK EBO>L :G= H_>K B=>:L MA:M B@GBM> A>EI?NE =BL<NLLBHGL MA:M PBEE
A>EIRHNLN<<>>=
 !1! BGMKH=N<>L RHN MH MA> O:KBHNL :LI><ML H? LMN=>GM :G= :<:=>FB< EB?> HG <:FINL :G=
IK>I:K>L RHN MH MAKBO> :L : 57%%'55(7. <HEE>@> LMN=>GM LBG<> MA>K> BL : =B_>K>G<> ;>MP>>G : <HEE>@>
LMN=>GM :G= : 57%%'55(7. <HEE>@> LMN=>GM !:<A L><MBHG H?  !1! BL ?K:F>= ;R L>E?:NMAHK>=
MKN>MHEB?> LAHKM LMHKB>L ?KHF :<MN:E /M:M> 1GBO>KLBMR H? *>P 5HKD /1*5 LMN=>GML >FIEHR>>L
:G= :ENFGB 5HN F:R >O>G DGHP LHF> H? MA> :NMAHKL 0A> :=OB<> MA>R LA:K> BG<EN=>L : O:KB>MR H?
M><AGBJN>L MH A>EI RHN <HI> PBMA MA> =>F:G=L H? <HEE>@> 0A> E>LLHGL E>:KG>= :K> F>:GM MH >GE:K@>
RHNK :P:K>G>LL H? L>E? PBMA K>LI><M MH RHNK :<:=>FB< :G= I>KLHG:E @H:EL :G= :LLBLM RHN MH @:BG MA>
G><>LL:KRLDBEELMHLN<<>>=BG<HEE>@>
%G MA> M>QM MA> :NMAHKL M>EE LMHKB>L :;HNM MA>BK HPG :<:=>FB< I>KLHG:E :G= EB?><:K>>K LN<<>LL>L
3A>GK>:=BG@ !1!<HGLB=>KMA>?HEEHPBG@@NB=BG@JN>LMBHGL
L=J )F9:579
] $HP=HRHN=>FHGLMK:M><HEE>@>K>:=BG>LLMAKHN@AMA>NL>H?>_><MBO>LMN=RLDBEEL:G=<:FINL
K>LHNK<>L
] $HP=HRHN:IIER;:LB<M><AGHEH@B<:E:G=BG?HKF:MBHGF:G:@>F>GMLDBEEL?HK:<:=>FB<:G=
EB?>EHG@<:K>>K=>O>EHIF>GM
] $HP=HRHN=>FHGLMK:M>MA>NL>H?<KBMB<:E:G=<K>:MBO>MABGDBG@LDBEELMHLHEO>IKH;E>FL:G=
=K:P<HG<ENLBHGL
] $HP=HRHN=>FHGLMK:M>;:LB<:P:K>G>LLH?L>E?BG<HGG><MBHGPBMA:<:=>FB<:G=I>KLHG:E
@H:EL
] $HP=HRHNB=>GMB?R:G==>FHGLMK:M>DGHPE>=@>H?MA>BFIEB<:MBHGLH?<AHB<>LK>E:M>=MH
P>EEG>LL
] $HP=HRHN=>FHGLMK:M>;:LB<DGHPE>=@>H?<NEMNK:E=BO>KLBMR
?M>K RHN K>:= >:<A LMHKR M:D> MA> MBF> MH K>a><M HG MA> E>LLHGL E>:KG>= ?KHF RHNK K>:=BG@ :G=
:GLP>K MA> @NB=BG@ JN>LMBHGL :L MA>R PBEE A>EI RHN MH <HGG><M MA> =HML ;>MP>>G ;>BG@ : <HEE>@>
LMN=>GM :G= ;>BG@ : 57%%'55(7. <HEE>@> LMN=>GM *HM> RHNK :K>:L H? LMK>G@MA :G= RHNK :K>:L H?
P>:DG>LL:G==>O>EHI:IE:GMHMNKGRHNKP>:DG>LL>LBGMHLMK>G@MAL
% <HNE= @H HG :G= HG :G= HG :;HNM <HEE>@> LMN=>GM :<:=>FB< LN<<>LL ;NM PA:M ?NG BL MA>
CHNKG>R ?HK RHN B? % M>EE RHN >O>KRMABG@ GHP 5HN G>>= MH E>:KG LHF> LMN_ HG RHNK HPG KB@AM /H
% PBEE E>:O> RHN MH K>:= :G= >GCHR  !1! PBMA : EBLM H? MBIL MA:M % LA:K> PBMA <HEE>@> LMN=>GML
:LMA>R>F;:KDHGMA>BKCHNKG>RMH:<:=>FB<LN<<>LL
] #4.; BL 106+/' 106+/' BL .#6':G= .#6' BL 70#%%'26#$.'
] #>MMA>;HHDL:G= 4'#& MA>;HHDL
] 0:D>GHM>LBG<E:LL:G=PA>GK>:=BG@?HK<E:LL
] 'GHPRHNKIKH?>LLHKL>F:BEHb<>EH<:MBHGHb<>AHNKL>M<:G=;>?:FBEB:KPBMAPA:MBLBG
MA><HNKL>LREE:;NL
] ,NMRHNKIAHG>:P:RBG<E:LL
] !F:BELG>>=:L:ENM:MBHG:;H=R:G=:<EHL>
] HGZMPKBM>MA>P:RRHNFB@AMM>QMXNLBG@:;;K>OB:MBHGL:G=<EBII>=L>GM>G<>L
] *>O>K:<:=>FB<:EER:=OBL>RHNKL>E?
] IIER?HKL<AHE:KLABIL^#..1(6*'/
] /I>:DBMBGMH>QBLM>G<>:G=D>>IRHNK>R>LHGMA>IKBS>
!GCHRMA>KB=>A>>KL
0+)
K0AHF:L,KB>LM>K M<IKB>LM>K@>G>L>>>=N
)F9:579 LJ
/D37::=<C@/B=@1=/CB6=@/<2327B=@=4 Blueprint for Success in College:Blueprint for Success in College:
Indispensable Study Skills and Time Management StrategiesIndispensable Study Skills and Time Management Strategies
L :G :=CNG<M <HNGL>EHK :G= BGLMKN<MHK ;>MP>>G  :G=  % ;>@:G M>:<ABG@ <HNGL>EBG@ :G=
I>KLHG:E =>O>EHIF>GM <HNKL>L :M FNEMBIE> <HFFNGBMR <HEE>@>L /HF> <:FINL>L :LLB@G>= M>QM;HHDL
?HK LHF> <HNKL>L :G= HMA>KL @:O> MA> ?K>>=HF MH <AHHL> ?KHF : O:KB>MR H? M>QML L FR F:M>KB:EL
@K>P MA> :<MN:E M>QM;HHDL :G :LLHKMF>GM H? <HIB>L H? :LLB@GF>GML A:G=HNML <E:LL :<MBOBMB>L :G=
>Q:FL ?HK F:GR =B_>K>GM <HNKL>L ;><:F> <A:EE>G@BG@ MH MK:GLIHKM :G= MH LM:R HK@:GBS>= ?HK
IK>I:K:MBHG :G= M>:<ABG@ % =BLMBG<MER K>F>F;>K ?K:GMB<:EER LB?MBG@ MAKHN@A : KHEEBG@ LNBM<:L> ;:@
PAB<A FR <HEE>:@N>L M>:L>= F> :;HNM MKRBG@ MH `G= MA> A:G=HNM % P:GM>= MH NL> ?HK MA> MABK=
<:FINL % P:L :M HG MA:M I:KMB<NE:K =:R % MHE= FRL>E? MA:M PA>G :G= B? % ;><:F> : ?NEEMBF>
<HNGL>EHK%PHNE=PKBM>FRHPGM>QM;HHDLHMA:M:EEH?MA>F:M>KB:EPHNE=;>BGHG>IE:<>
$BK>= :L : ?NEEMBF> <HNGL>EHK :G= BGLMKN<MHK :M #KHLLFHGM HEE>@> BG  % =><B=>= MH LM:KM
PKBMBG@ FR HPG M>QM;HHD ?HK : /MN=R /DBEEL :G= 0BF> ):G:@>F>GM <HNKL> BGLM>:= H? <HGMBGNBG@
MH <:KKR :KHNG= LH F:GR =B_>K>GM F:M>KB:EL % ;>@:G PKBMBG@ BG  :G= LHF> H? MA> B=>:L ?KHF
MA:M`KLM>_HKMA>EI>=LA:I>=MABLIKHC><M
0ABL ;HHD P:L :ELH PKBMM>G ;><:NL> MA>K> BL : G>>= ?HK BM ):GR LMN=>GML =H GHM E>:KG AHP
MH LMN=R >_><MBO>ER :G= >b<B>GMER HK AHP MH F:G:@> MA>BK MBF> +MA>KL :K>GZM <>KM:BG PA:M MH
<AHHL> ?HK MA>BK F:CHK HK MA>BK <:K>>K G= LHF> :K> EHLM MKRBG@ MH G:OB@:M> MAKHN@A MA> F:S>
:G= <NEMNK> H? <HEE>@> H?M>G ;:E:G<BG@ MA>BK L<AHHE PHKDEH:= PABE> PHKDBG@ :G= M:DBG@ <:K> H?
?:FBER K>LIHGLB;BEBMB>L /MN=>GML :K> LHF>MBF>L NGLN<<>LL?NE PA>G MA>R ;>@BG <HEE>@>XGHM ?HK E:<D
H? FHMBO:MBHG HK A:K= PHKD ;NM ;><:NL> MA>R =B= GHM :<JNBK> MA> LDBEEL HK BG?HKF:MBHG G><>LL:KR
MH:EEHPMA>FMHLN<<>>=
<<HK=BG@ MH MA> *:MBHG:E >GM>K ?HK !=N<:MBHG /M:MBLMB<L [MA>  @K:=N:MBHG K:M> ?HK `KLM
MBF> ?NEEMBF> NG=>K@K:=N:M> LMN=>GML PAH ;>@:G MA>BK INKLNBM H? : ;:<A>EHKZL =>@K>> :M : R>:K
=>@K>>@K:GMBG@ BGLMBMNMBHG BG ?:EE  P:L  I>K<>GM 0A:M BL  I>K<>GM H? `KLMMBF> ?NEEMBF>
LMN=>GML PAH ;>@:G L>>DBG@ : ;:<A>EHKZL =>@K>> :M : R>:K BGLMBMNMBHG BG ?:EE  <HFIE>M>= MA>
=>@K>>:MMA:MBGLMBMNMBHGPBMABGR>:KL\
<
G= :<<HK=BG@ MH : K><>GM LMN=R ;R MA> *:MBHG:E /MN=>GM E>:KBG@AHNL>  I>K<>GM H? LMN=>GML
PAH LM:KM>= :M R>:K BGLMBMNMBHGL BG  <HFIE>M>= : =>@K>> :M : R>:K BGLMBMNMBHG PBMABG
R>:KL
=
0A>K> :K> FNEMBIE> K>:LHGL ?HK MA>L> LM:MBLMB<L ;NM MA>K> BL <E>:KER @K>:M HIIHKMNGBMR ?HK
BFIKHO>F>GM :G= % ;>EB>O> E>:KGBG@ :G= NMBEBSBG@ ;>MM>K LMN=R LDBEEL :G= MBF> F:G:@>F>GM LDBEEL
PBEE RB>E= AB@A>K @K:=N:MBHG :G= K>M>GMBHG K:M>L ?HK LMN=>GML .>L>:K<A A:L IKHO>G LMN=>GML PAH
<HFIE>M> : LMN=R LDBEEL <HNKL> K>F:BG BG AB@A>K >=N<:MBHG EHG@>K PBMA AB@A>K @K:=> IHBGM :O>K:@>L
:G=FHK>LN<<>LLMA:GLMN=>GMLPAH=B=GHM<HFIE>M>MA><HNKL>
>
<3 .3,3&RS6)S$S,SS3-$SSS
=;<?6SS+S%S+.,3J=;<?K3
=3 &,S6"&6S$6!2SS6*6(S-1SG$$SG
3$RS$4")S(S,"SR+3J)S,$SG
+$6*"RS,6S.SS6=;<?K3>>3
>3 J*S<BBAK3*S6-3P'6$3J<BBAK3"SSSSSR
LJ= )F9:579
>LIBM> FR BGM>K>LM BG D>>IBG@ MA> <HLM H? MA> HKB@BG:E M>QM;HHD EHP % ?HNG= MA:M MA> <HLM P:L LMBEE
IKHAB;BMBO> ?HK F:GR LMN=>GML :G= :L % ;>@:G MH K>L>:K<A M>QM;HHD :_HK=:;BEBMR LHENMBHGL % ?HNG=
+!. +I>G !=N<:MBHG:E .>LHNK<>L % F:=> : =><BLBHG MH IN;EBLA MABL ;HHD :L :G +!. :L P>EE
:L MA> `KLM >=BMBHG H? .7'24+06 (14 7%%'55 +0 1..')' #0& #4''4 :G= MA> `KLM >=BMBHG H? .7'24+06
(14 7%%'55 #4''4 C'%+5+10 #-+0) L HG> H? FR <HEE>:@N>L L:B= [5HN A:O> @HG> :EE BG PBMA
+!.\ 0A>K> :K> F:GR K>:LHGL ?HK PAR MABL ;HHD BL :G +I>G !=N<:MBHG:E .>LHNK<> BG<EN=BG@ ;NM
GHM EBFBM>= MH M>QM;HHD :_HK=:;BEBMR :<<>LL >FI:MAR HI>GG>LL BG<ENLBHG =BO>KLBMR :G= >JNBMR
% P:GM LMN=>GML MH ;> :;E> MH A:O> :<<>LL MH MA> M>QM;HHD HG =:R HG> :G= :?M>K MA> <HNKL> >G=L
GHM A:O> MH <AHHL> ;>MP>>G ;NRBG@ ?HH= :G= INK<A:LBG@ MA> M>QM :G= GHM A:O> MH PHKKR :;HNM :
EHLM LMHE>G HK >QIBK>= =B@BM:E :<<>LL <H=> 0ABL /:GM: G: HEE>@> LMN=>GM I:G>E ?KHF MA> +I>G
!=N<:MBHGHG?>K>G<>>Q>FIEB`>LPARMABLM>QMBL:G+!.
)723= Santa Ana College OER Student Panel OpenEd 2017Santa Ana College OER Student Panel OpenEd 2017
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
% :ELH ?HNG= : PHG=>K?NE <HFFNGBMR H? LNIIHKM>KL H? +I>G !=N<:MBHG :G= +I>G !=N<:MBHG:E
.>LHNK<>L :EHG@ PBMA >QBLMBG@ AB@A JN:EBMR I>>K K>OB>P>= HEE>@> /N<<>LL +!. % K>L>:K<A>= :G=
S3*-"RS*S"SS6
-6$3
)F9:579 LJ==
B=>GMB`>= <HGM>GM ?KHF FNEMBIE> LHNK<>L <AHL> PA:M BG?HKF:MBHG ;>LM `M FR IKHC><M :G= MA>G
[K>NL>= K>OBL>= K>FBQ>= :G= K>=BLMKB;NM>=\ PBMA : K>:MBO> HFFHGL ;R :MMKB;NMBHG EB<>GL> LH
MA:M?NMNK>NL>KL<:G?K>>ERK>M:BGK>NL>K>OBL>K>FBQ:G=K>=BLMKB;NM>
%M A:L ;>>G FR =>LBK> MH =>EBO>K :G >:LRMHK>:= LBFIE>MHNG=>KLM:G= BGLMKN<MBHG F:GN:E ?HK
LMN=RLDBEELMBF>F:G:@>F>GM:G=<:K>>K>QIEHK:MBHG?NEEH?K>:EEB?>>Q:FIE>L
0ABL M>QM;HHD BL GHM =>LB@G>= MH IK>:<A MH RHN PA:M RHN LAHNE= HK LAHNE=GZM =H PBMA RHNK EB?>
RHNK MBF> HK RHNK LMN=R LDBEEL %M BL GHM F>:GM MH CN=@> RHN %M BL AHP>O>K =>LB@G>= MH :EEHP RHN
MA> HIIHKMNGBMR MH >Q:FBG> :G= >QIEHK> AHP RHN =H <>KM:BG MABG@L :G= H_>K LN@@>LMBHGL :EHG@
MA>P:RMA:MA:O>A>EI>=HMA>KLMN=>GML
)R @>G>K:E IABEHLHIAR BL MA:M B? RHN :K> =HBG@ LHF>MABG@ MA:M PHKDL P>EE ?HK RHN MA>G
<HGMBGN> =HBG@ BM NM B? RHNK K>LNEML :K> E>LL MA:G HIMBF:E HK B? RHN P:GM MH MKR LHF>MABG@ G>P
MABL ;HHD @BO>L RHN LN@@>LMBHGL !QI>KBF>GM 0KR LHF> H? MA>F HNM '>>I PA:M PHKDL ;>LM 0HLL
HNMPA:M=H>LGZMPHKD/>>PA:M`ML;>LM?HKRHN3>:K>:EEPHKDLBGIKH@K>LL
0ABL BL : ;HHD MA:M % PBLA % A:= PA>G % P:L : <HEE>@> LMN=>GM 0AKHN@A MKB:E :G= >KKHK % ?HNG=
LHF> LMK:M>@B>L MA:M LNBM>= F> :G= F:GR MA:M =B= GHM % BFIKHO>= FR MBF> F:G:@>F>GM ;NM BM
P:L : EHG@ IKH<>LL F:KD>= ;R E>:KGBG@ ?KHF ?:BENK> K:MA>K MA:G ?HEEHPBG@ : K><BI> ?HK LN<<>LL 0A>
L:F><HNE=;>L:B=?HKL>E><MBG@FRF:CHK
0A> `KLM >=BMBHG H? MA> .7'24+06 (14 7%%'55 0&+52'05#$.' 67&; -+..5 #0& +/' #0#)'/'06
64#6')+'5 M>QM >EB<BM>= MABL K>LIHGL> ?KHF HG> H? FR LMN=>GML [0A> ;HHD K>:EER A>EI>= F> %M P:L
LNIIHKMBO> H? MA> :LLB@GF>GML :G= P:L >QMK>F>ER >:LR MH NG=>KLM:G= :G= ?HEEHP %M MKNER L>KO>= :L
: ;EN>IKBGM %M P:L :EFHLM EBD> : F:I HK BGLMKN<MBHG F:GN:E ?HK ;>BG@ LN<<>LL?NE BG RHNK <HNKL>
0A> ;>LM I:KM P:L BM <:G ;> NL>= :G= :IIEB>= MH :GR <HEE>@> E>O>E <E:LL\ /BG<> MA:M IN;EB<:MBHG
% A:O> ?NKMA>K =>O>EHI>= MA>HKB>L :G= LMK:M>@B>L LI><B`<:EER =>LB@G>= MH A>EI <HEE>@> LMN=>GML ;>
LN<<>LL?NE :G= % :F >Q<BM>= :;HNM LA:KBG@ MA>F :G= <HF;BGBG@ MA>F PBMA MA> >QI>KMBL> :G=
<HGM>GM?KHFHMA>KHI>GEB<>GL>=PHKDL
%MBLFRLBG<>K>AHI>MA:MMABL;HHDPBEEA>EI@NB=>RHNMHLN<<>LLBG<HEE>@>
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH)F9J=CIG@MG<5F98
=[9F9BH +C58 -C C@@9;9 !I=89 CF -F5BG=H=CB=B; -C C@@9;9 CF 'CBHF58=H=CB5@ ,HI89BHG
IH<CF98 6M @=G9 %5ACF95IL %C75H98 5H <HHDGCD9BCF9;CBDF9GG6CC?GDI67C@@9;9HF5BG=H=CB
:FCBHA5HH9F=BHFC8I7H=CB %=79BG92HHF=6IH=CB
85DH=CBG,@=;<H98=H=B;
CIB85H=CBG C: 7589A=7 ,I779GG 0CF8G C: 0=G8CA 8=H98 6M -<CA5G )F=9GH9F %C75H98 5H
LJ=== )F9:579
<HHDGA=@B9DI6@=G<=B;;9B9G9C98I:CIB85H=CBGC:57589A=7GI779GG:FCBHA5HH9FDF9:579
%=79BG92HHF=6IH=CB
(F=;=B5@7CBH9BH5IH<CF986M5J9=@@CB %=79BG92HHF=6IH=CB
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G 5B8 -=A9 &5B5;9A9BH ,HF5H9;=9G 6M 5J9 =@@CB %C75H98 5H <HHDGDF9GGF96IG7CAAIB=HM
6@I9DF=BH 'CK@=79BG985G2HHF=6IH=CB
/=89C ,5BH5 B5 C@@9;9 (+ ,HI89BH )5B9@ (D9B8  %C75H98 5H <HHDGMCIHI69
JH)ANG,:0C %=79BG92HHF=6IH=CB
)F9:579 L=L
0<5HHCLD97H:CFH<9,HI89BH
0ABL M>QM;HHD BL : [K>FBQ\ H? `O> IK>OBHNL HI>G LHNK<>= M>QM;HHDL !_HKM P:L IE:<>= BGMH
F:BGM:BGBG@ <HGLBLM>G<R MAKHN@AHNM PABE> LMKBOBG@ MH LMKBD> : ;:E:G<> PBMA IK>L>KOBG@ HKB@BG:E
<HGM>GM 5HN PBEE L>> FNEMBIE> :NMAHKL NL> [%\ />> MA> EB<>GLBG@ :G= :MMKB;NMBHG BG?HKF:MBHG :M MA>
>G=H?>:<A<A:IM>KB?RHN:K>BGM>K>LM>=BGB=>GMB?RBG@MA><A:IM>K:NMAHK
0A> "HNG=:MBHGL H? /N<<>LL 3HK=L H? 3BL=HF >LL:RL :K> BG<EN=>= BG MA>BK HKB@BG:E ?KHF :G=
A:O> ;>>G =BLMKB;NM>= MAKHN@AHNM MA> M>QM PBMA MA> MBME> H? >:<A <A:IM>K ;>@BGGBG@ [3HK=L H?
3BL=HF\0A>:NMAHKLH?MA>L>>LL:RL:K>B=>GMB`>=:MMA>MHIH?>:<A<A:IM>K
EMAHN@A EBL> (:FHK>:NQ ,AREEBL *BLLBE: MA> (NF>G (>:KGBG@ :NMAHKL MA> "HNG=:MBHGL H?
<:=>FB< /N<<>LL 3HK=L H? 3BL=HF :NMAHKL :G= %  :O> BEEHG A:O> =B_>K>GM OHB<>L % ;>EB>O>
BG MABL <:L> MA:M :L KBLMHME> L:B= [MA> PAHE> BL @K>:M>K MA:G MA> LNF H? BML I:KML\ 0A> [NMAHKZL
/MHKB>L\?HNG=MAKHN@AHNMMA>M>QM:K>I>KLHG:ELMHKB>L?KHF :O> BEEHG
2B=>HL :K> >F;>==>= PBMABG MA> M>QM /MN=>GML PBMA BGM>KG>M :<<>LL :G= : =>OB<> <:I:;E> H?
IE:RBG@ OB=>HL PBEE ;> :;E> MH P:M<A MA> OB=>HL :L MA>R :K> K>:=BG@ /MN=>GML K>:=BG@ HcBG> PBMA
: I=? =HPGEH:= HK HG : : =>OB<> MA:M =H>L GHM IE:R OB=>H PBEE L>> : EBGD MH MA> OB=>H BG MA> M>QM
EEH?MA>OB=>HL:G=FNEMBF>=B::K>:ELHEBLM>=BGMA>II>G=BQ?HK?NMNK>OB>PBG@:G=K>?>K>G<>
5HNPBEE`G=E>:KGBG@H;C><MBO>L:MMA>;>@BGGBG@H?>:<ANGBM
713<A3A/<2BB@70CB7=<A
(F=;=B5@7CBH9BH5IH<CF986M5J9=@@CB %=79BG92HHF=6IH=CB
7?BCK@98;9A9BHG
<DGHPE>=@F>GML ?KHF 170&#6+105 1( 7%%'55 !14&5 1( !+5&1/ :G= ;BHL ?KHF MA> :NMAHKL H? MA>
>LL:RLPKBMM>G;R0AHF:L,KB>LM>K
"BKLM %Z= EBD> MH :<DGHPE>=@> MA> LMN=>GML >GKHEE>= BG FR "BKLM5>:K !QI>KB>G<>  <HNKL>
:M /1*5 #>G>L>> HFFNGBMR HEE>@> =NKBG@ MA> =NKBG@ MA>  :<:=>FB< L<AHHE R>:K
5HNK ?>>=;:<D MKNER A>EI>= MH K>OHENMBHGBS> :<:=>FB< LN<<>LL ?HK @>G>K:MBHGL H? <HEE>@> LMN=>GML
MH<HF>
)N<A :IIK><B:MBHG MH ;HMA ':M> ,BM<A>K :G= EEBLHG KHPG :M #>G>L>H ?HK MA>BK I:MB>G<> :G=
LNIIHKM:L%PHKD>=MAKHN@AMA>+I>G/1*50>QM;HHDLIN;EB<:MBHGIKH<>LL
0A:GD RHN MH (BG=L>R HMLHG /1*5 N_:EH /M:M>  :G= &>_K>R ,:K`MM /1*5 #>G>L>>
HFFNGBMRHEE>@>?HKMA>BK:LLBLM:G<>BGF:DBG@ !1! :K>:EBMR
,KHIL MH *B<DB (>K<S:D ?HK @BOBG@ MA> `G:E =K:?M MA> [A:BKR EB;K:KB:G >R>;:EE\ $>K PHK=L GHM
FBG>
"BG:EER F:GR MA:GDL @H>L MH MA> ?HEEHPBG@ /M:M> 1GBO>KLBMR H? *>P 5HKD /1*5 LMN=>GML
>FIEHR>>L:G=:ENFGB?HKLA:KBG@MA>BKPHK=LH?PBL=HFMA:M?K:F>LMA>M>QM
KG=K>P.H;>KM:D>K
BK><MHKH?HFFNGBMR/M:G=:K=L
"BG@>K(:D>LHFFNGBMRHEE>@>
4#&7#6'1(0+8'45+6;#67@#.10+8'45+6;#6.$#0;#0&"0'106#
FB>>KGLM>BG
4#&7#6'1([email protected]1706;1//70+6;1..')'
2B<DB(KHPG
BK><MHKH?/MN=>GM<MBOBMB>L
$>KDBF>KHEE>@>
4#&7#6'1("165&#/
K'KBLMBG> N_R
,K>LB=>GM
/1*5=BKHG=:<D
4#&7#6'1(6*'1..')'#641%-2146
&:FB>!=P:K=L
:K>>K/>KOB<>L/I><B:EBLM
/1*5#>G>L>>HFFNGBMRHEE>@>
4#&7#6'1(0+8'45+6;#67@#.1
,:NEH">KG:G=>L
/MN=>GM:M/MHGRKHHD1GBO>KLBMR
AKBLMHIA>K($H<D>R
LLBLM:GM BK><MHKH?/MN=>GM)H;BEBMR
/1*5/RLM>F=FBGBLMK:MBHG
4#&7#6'1("59')1
":MBF:.H=KB@N>S&HAGLHG
LLBLM:GM >:GH?/MN=>GML)NEMB<NEMNK:E,KH@K:FL/>KOB<>L
/1*5#>G>L>H
4#&7#6'1("4'&10+#
'KBLM>G)KND
LLBLM:GM BK><MHKH?/MN=>GM<MBOBMB>L
/1*5#>G>L>>HFFNGBMRHEE>@>
4#&7#6'1(0+8'45+6;#67@#.1
K,:MKB<B:)NGL<A
HNGL>EHK
/N_HEDHNGMRHFFNGBMRHEE>@>
4#&7#6'1("'0'5'1
5NDB/:L:H
/MN=>GM:M/1*5+LP>@H
4#&7#6'1("'0'5''1//70+6;1..')'
&:<JN>EBG>0B>KFBGB
":<NEMR
"BG@>K(:D>LHFFNGBMRHEE>@>
4#&7#6'1("7@#.16#6'
/:K:2:<BG
LL== 7?BCK@98;9A9BHG
$NF:G/>KOB<>L=CNG<M":<NEMR
/1*5*B:@:K:HNGMRHFFNGBMRHEE>@>
&:<DB>2>MK:GH
4#&7#6'1("'0'5'1
*:MA:G3:EE:<>
LLBLM:GM,KHC><MHHK=BG:MHKLL>LLF>GM:G=/I><B:E,KHC><ML
!KB>HFFNGBMRHEE>@>
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH,<5F98DF9J=CIG@M
CIB85H=CBG C: 7589A=7 ,I779GG 0CF8G C: 0=G8CA 8=H98 6M -<CA5G )F=9GH9F %C75H98 5H
<HHDGA=@B9DI6@=G<=B;;9B9G9C98I:CIB85H=CBGC:57589A=7GI779GG:FCBHA5HH9F
57?BCK@98;A9BHG
<DGHPE>=@>F>GML?KHF 1961'#40+-'#41 ;R,AREEBL*BLLBE:
)R MA:GDL MH FR $H?>K HHK=BG:MHK H? +K>@HGZL /M:M>PB=> +I>G !=N<:MBHG (B;K:KR
/>KOB<>L ?HK D>>IBG@ F> HG MK:<D HG MABL +!. E>:KGBG@ <NKO> 0A:GDL :ELH MH FR !_><MBO>
(>:KGBG@ :G= /MN=R /DBEEL LMN=>GML I:LM :G= IK>L>GM PAH A:O> A>EI>= F> LA:I> K>E>O:GM :G=
A>EI?NE <E:LL>L %G I:KMB<NE:K % PBLA MH MA:GD .:R: (RG>MM> ,:F :G= G@B> PAH ;>M: M>LM>= MA>
E>LLHGL PBMA F> BG /NFF>K M>KF  :G= IKHOB=>= O:EN:;E> BGLB@AML :G= K>LIHGL>L (:LMER L>O>K:E
E>LLHGL ?>:MNK> MA> PHKD H? :G $H=@>L : (:G> <HEE>:@N> PAHL> L>KB>L H? /MN=R 0BIL :KMB<E>L
<HGMBGN> MH ;> : @HE= FBG> H? BG?HKF:MBHG ?HK !_><MBO> (>:KGBG@ BGLMKN<MHKL :M (:G> $> A:L
@>G>KHNLER@BO>GI>KFBLLBHGMH<BM>ABLPHKDA>K>:L:G+I>G!=N<:MBHG.>LHNK<>
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BHDF9J=CIG@MG<5F98
"CK HC %95FB %=?9 5 )FC IH<CF98 6M )<M@@=G '=GG=@5 %C75H98 5H
<HHDGCD9BCF9;CBDF9GG6CC?GDI67C@@9;9F958=B;:FCBHA5HH9F57?BCK@98;A9BHG
7?BCK@98;9A9BHG LL===
<DGHPE>=@>F>GML ?KHF :O> BEEHG NK:MHK :G= HNMAHK H? .7'24+06 (14 7%%'55 +0 1..')'
#0&#4''4
0ABL IKHC><M <HNE= GHM A:O> ;>>G <HFIE>M>= :EHG> :G= % :F @K:M>?NE ?HK MA> :LLBLM:G<> H? LHF>
:F:SBG@I>HIE>:KHNG=F>PAHA>EI>=BMK>:<A?KNBMBHG
0A:GD RHN MH 6H> 3:D> $R=> ?HK :EP:RL A:OBG@ FR ;:<D ?HK RHNK I:MB>G<> MBF> >QI>KMBL>
:G=K>LIHGLBO>G>LL
0A:GDLMHINKO:LAHD?HK:EEH?RHNK:LLBLM:G<>:G=LNIIHKM
0A:GDL MH $N@A )<#NBK> ?HK <K>:MBG@ MA> IE:M?HKF :G= <HFFNGBMR :KHNG= BM MH F:D> MABL
IHLLB;E>
0A:GDL MH (BG=: KN<> $BEE MA> M>:F :M (NF>G (>:KGBG@ EBL> (:FHK>:NQ ,AREEBL *BLLBE:
0AHF:L,KB>LM>K?HK<K>:MBG@AB@AJN:EBMR<HEE>@>LN<<>LL<HGM>GM:G=HI>GEREB<>GLBG@BM
/I><B:EMA:GDLMH,>>K.>OB>P>KL
G=K>: >OBMMN>LM:HEE>@>
EB<B:"K:G@HLHEE>@>H?/:G):M>H
>GB<:'>EER >GS:HEE>@>
3BEE,BG>L#KHLLFHGMHEE>@>
.BM:/HNEM:GB:G/:==E>;:<DHEE>@>
HGLM:G<>3:ELA"NEE>KMHGHEE>@>
/NS:GG>3:DBFNMM>HEE>@>
0A:GDL MH &>:GG> $HHO>K /<AHE:KER HFFNGB<:MBHG (B;K:KB:G :M !:LM :KHEBG: 1GBO>KLBMR ?HK
IKHOB=BG@MA>#EHLL:KR
0A:GD RHN MH FR PB?> (BG=L:R :G= FR =:N@AM>KL KHHDERG :G= )HEER ?HK MA>BK LNIIHKM :G=
>LI><B:EER ?HK :EEHPBG@ F> MH PHKD HG MA> IKHC><M =NKBG@ MBF>L PA>G BM P:L GHM FHLM <HGO>GB>GM
MH =H LH G= MA:GDL ?HK INMMBG@ NI PBMA FNEMBIE> IBE>L H? MABL IKHC><M BG O:KBHNL KHHFL H? HNK
AHNL>?HKF:GRFHGMAL
0A:GD RHN MH FR I:K>GML :KHE> :G= &H> BEEHG ?HK BGLIBKBG@ F> BG >=N<:MBHG M>:<ABG@ MA>
O:EN> H? A:K= PHKD :G= ?HK GNKMNKBG@ FR >GMANLB:LF I:MB>G<> :G= I>KLBLM>G<> MH ;> :;E> MH `GBLA
MA>IKHC><M
0A:GDL MH MA> LF:EE @KHNI % :_><MBHG:M>ER <:EE FR [MABGD M:GD\ 1G: :ER *B<HE> "BGD;>BG>K
&:F>L #E:I:#KHLLDE:@ :G= FR $H?>K 5HNK <HGMBGN>= LNIIHKM :G= :GLP>KL MH FR JN>LMBHGL
A:O>;>>GBGO:EN:;E>
0A:GDLMHE>QBLEB?MHG?HKLNIIHKM:G=:LLBLM:G<>PBMAEB<>GLBG@
0A:GDLMH0"HK=?HKNG<HG=BMBHG:ELNIIHKM>G<HNK:@>F>GMPBL=HF:G=:=OB<>
0A:GD RHN MH MA> <:=>FB< />G:M> ?HK MA> :EB?HKGB: HFFNGBMR HEE>@>LZ +!. 0:LD "HK<>
?HKRHNK>GMANLB:LF<K>:MBOBMR:G=B=>:L
0A:GDL MH (:NK: EHL> $>K >=BMHKB:E M:E>GM I:MB>G<> PBEEBG@G>LL MH :LLBLM :G= IKH?>LLBHG:EBLF
:K>:EE:IIK><B:M>=FHK>MA:G%<:G>QIK>LL
LL=J 7?BCK@98;9A9BHG
0A:GD RHN MH 'BF ):SR<D :G= A>K M>:F :M )HGM>SNF: ,N;EBLABG@ 5HN A>EI>= ;KBG@ MABL ?KHF
:GB=>:MH:K>:EBMR:G=%:FBG=>;M>=?HKRHNK:LLBLM:G<>
;B@ MA:GD RHN MH HEE>>G (>P<H<D *BEL )B<A:EL :G= /:K:A )HHK> PAH :LLBLM>= PBMA >=BMBG@
713<A3A/<2BB@70CB7=<A
(F=;=B5@7CBH9BH2HHF=6IH=CB
7?BCK@98;9A9BHG LLJ
\BHFC8I7H=CB
HEE>@> MA> KHF:GMB< MK:GLBMBHG I>KBH= ?KHF AB@A L<AHHE MH PHKD .B@AM !O>KR ?:EE :L LNFF>K
<HF>L MH :G >G= MA> F>=B: BL aHH=>= PBMA BF:@>L H? R>:KHE=L :G= MA>BK I:K>GML aH<DBG@
MH <HEE>@> <:FINL>L EH:=>= PBMA I>KLHG:E ;>EHG@BG@L K>:=R MH I:<D BGMH MA> =HKFL 0A> PHK=
[<HEE>@>\ M>G=L MH F:D> I>HIE> MABGD H? RHNG@ :=NEML K><>GMER @K:=N:M>= ?KHF AB@A L<AHHE PAH
PBEE ;> EBOBG@ BG K>LB=>G<>L HG <:FINL LMN=RBG@ PBMA ?KB>G=L :G= LH<B:EBSBG@ MH@>MA>K HG MA>
P>>D>G=L %G=BOB=N:EL PAH A:O> ?HNG= :G= ;>>G :<<>IM>= MH MA> L<AHHE MA:M BL MA> I>K?><M `M ?HK
MA>F(>MMA>F:@B<;>@BG
):GR RHNG@ :=NEML PBEE A:O> LI>GM MA> LNFF>K IK>I:KBG@ ?HK MA> MK:GLBMBHG MH <HEE>@> ;R
<E>:GBG@ ;>=KHHFL LHKMBG@ :G= =HPGLBSBG@ ;>EHG@BG@L K>OBLBMBG@ F>FHKB>L :G= K>:=BG@ <HEE>@>
LMN=>GM LN<<>LL @NB=>L 0K:GLBMBHG @NB=>L BG<EN=> MHIB<L EBD>  MABG@L MH =H MH ;> K>:=R ?HK
<HEE>@> =HKF EBOBG@ MBIL ?HK <E:LLKHHF LN<<>LL LAHIIBG@ ?HK MA> MABG@L RHN PBEE G>>= BG <HEE>@>
<HEE>@> :G= =KBGDBG@ LM:RBG@ <HGG><M>= :G= =>:EBG@ PBMA L>M;:<DL EE MABG@L MA> RHNG@ :=NEML
G>>= MH DGHP ;>?HK> LMKBDBG@ HNM HG MA>BK HPG ?HK MA> `KLM MBF> 0A>  R>:K HE= K><>GM AB@A
L<AHHEL>GBHKBLL>>G:LMA>[MRIB<:E\<HEE>@>LMN=>GM
$HP>O>K MA> LMN=>GM IKH`E> ?HK F:GR <HEE>@>L MH=:R BL LAB?MBG@ 5HNG@ :=NEML PBMA ?>P
K>LIHGLB;BEBMB>L HMA>K MA:G <HEE>@> <HNKL>L :K> ;><HFBG@ : LAKBGDBG@ =>FH@K:IAB< HG F:GR <HEE>@>
<:FINL>L 0H=:RZL <HEE>@> <E:LLKHHFL :K> BG<K>:LBG@ER ;><HFBG@ BG?NL>= PBMA 01064#&+6+10#.
LMN=>GML MAHL> HO>K MA> :@> H?  PBMA K>LIHGLB;BEBMB>L ;>RHG= MA> <E:LLKHHF P:EEL 0A>L> :K>
GHM LMN=>GML PAH MK:GLBMBHG =BK><MER ?KHF AB@A L<AHHE MH IHLML><HG=:KR >=N<:MBHG ):GR :K>
`KLM@>G>K:MBHG <HEE>@> LMN=>GML PAHL> I:K>GML A:O> GHM :MM>G=>= <HEE>@> :G= :K> GHM IKHOB=BG@
MA> LMN=>GML PBMA `KLMA:G= BG?HKF:MBHG :;HNM MA> BGG>K PHKDBG@L H? <HEE>@> >LB=>L MA> ;:LB<
?HNG=:MBHG:E BG?HKF:MBHG LNKKHNG=BG@ <HEE>@> GHGMK:=BMBHG:E LMN=>GML G>>= A>EI NG=>KLM:G=BG@
MA>BG?HKF:MBHGK>@:K=BG@MA><HGM>QMN:E:LI><MLH?<HEE>@>LRLM>FL
*6/B /93A&BC23<B!=<'@/27B7=</:
*HGMK:=BMBHG:E LMN=>GML A:O> :G >O>K@KHPBG@ IK>L>G<> HG <HEE>@> <:FINL>L >LI><B:EER
<HFFNGBMR <HEE>@>L *HGMK:=BMBHG:E LMN=>GML <:G ;> ;KH:=ER =>`G>= :L A:OBG@ HG> HK FHK> H?
MA>?HEEHPBG@<A:K:<M>KBLMB<L
] !GMKRMH<HEE>@>=>E:R>=:ME>:LMHG>R>:K?HEEHPBG@AB@AL<AHHE
] R>:KLHE=HKHE=>K
] $:OBG@=>I>G=>GML
] >BG@:LBG@E>I:K>GM
] >BG@>FIEHR>=?NEEMBF>
] >BG@`G:G<B:EERBG=>I>G=>GM
] 2>M>K:GH?1GBM>=/M:M>L:KF>=L>KOB<>L
] $HF>E>LLHK:MKBLDH?AHF>E>LLG>LL
] MM>G=BG@<HEE>@>I:KMMBF>
] *HMA:OBG@:AB@AL<AHHE=BIEHF:
] "BKLM@>G>K:MBHG<HEE>@>LMN=>GM
] "BKLM@>G>K:MBHG BGMA>1GBM>=/M:M>L
] !G@EBLA(:G@N:@>(>:KG>K
] BLEH<:M>=PHKD>K
*HGMK:=BMBHG:E LMN=>GML ?:<> <KBMB<:E BLLN>L LNKKHNG=BG@ I:KMB<BI:MBHG BG <HEE>@> :G= NEMBF:M>ER
<HEE>@>LN<<>LL0A>L><KBMB<:EBLLN>LBG<EN=>;NM:K>GHMEBFBM>=MHMA>?HEEHPBG@
] /MK:M>@B>L?HKF:G:@BG@<HFI>MBG@G>>=LHGMA>BKMBF>
] Bb<NEMRG:OB@:MBG@<HG?NLBG@BGLMBMNMBHG:E>GOBKHGF>GML
] 1G=>KLM:G=BG@MA><NEMNK>H?<HEE>@>
] 0K:GLBMBHG:EL>KOB<>LGHMBGIE:<>MHMA>L:F>=>@K>>:L?HK[MK:=BMBHG:E\LMN=>GML
] 'GHPE>=@>:;E>LNIIHKMLRLM>FL
] ,>KLHG:E;:KKB>KL
] 1GIK>=B<M:;E>BGaN>G<>LHGMA>BKL<A>=NE>L
] 3HKD`KLMLMN=RL><HG=IKBHKBMB>L
] ,:RBG@?HK<HEE>@>
] 1G=>KIK>I:K>=?HNG=:MBHGLDBEEL.>:=BG@3KBMBG@):MAHFINM>K(BM>K:<R$NF:G
.>E:MBHGL+K:EHFFNGB<:MBHG
\BHFC8I7H=CB
=3A!=<'@/27B7=</:&BC23<B&3:31B'63&/;3=::353<D7@=<;3<BA
'@/27B7=</:&BC23<B
D855.0.<<.7-*7,..680:*912,;E +A *<287*5.7<.:/8:-=,*<287#<*<2;<2,; 2;27<1. =+52,86*27
:M: ?KHF MA> *:MBHG:E >GM>K ?HK !=N<:MBHG:E /M:MBLMB<L *!/ LNIIHKML MA> BG?HKF:MBHG
AB@AEB@AM>= BG MA>BK  K>IHKM MBME>= !14- +456 67&; '%10& NKBG@ MA>  :<:=>FB<
R>:K  H? NG=>K@K:=N:M>L >GKHEE>= BG IHLML><HG=:KR >=N<:MBHG P>K> :@>  HK HE=>K 0ABL :@>
BL LB@GB`<:GM ;><:NL> BM BL NL>= ?HK =>M>KFBGBG@ `G:G<B:E BG=>I>G=>G<> ?HK ">=>K:E "BG:G<B:E B=
IKH@K:FL ?:?L:>=@HO "BG:G<B:E BG=>I>G=>G<> <HF;BG>= PBMA MA> @KHPBG@ <HLM H? :MM>G=BG@
<HEE>@> BL E>:=BG@ MH : @KHPBG@ GNF;>K H? I:KMMBF> LMN=>GML >GKHEE>= BG <HEE>@> <E:LLKHHFL
FHK> K><>GM :KMB<E> BG MA> 3:EE /MK>>M &HNKG:E BG=B<:M>L MA:M MA> GNF;>K H? GHGMK:=BMBHG:E LMN=>GML
I:LL>= MA>  F:KD BG  *NF;>K H? MA> 3>>D Y*HG0K:=BMBHG:EZ /MN=>GML K> ):CHKBMR HG
HEE>@>:FINL>L
.>L>:K<A IKHOB=>= BG  ;R MA> %GLMBMNM> ?HK 3HF>GZL ,HEB<R .>L>:K<A %3,. K>O>:E>=
MA:M  H? <HEE>@> LMN=>GML JN:EB`>= :L EHP BG<HF> :G= PHNE= A:O> MH PHKD MH <HO>K =BK><M
:G= BG=BK><M <HEE>@> >QI>GL>L 0A> =:M: LAHPL MA:M :EFHLM : MABK= H? <HEE>@> LMN=>GML G>>= MH
PHKD  AHNKLP>>D HK FHK> PABE> ;:E:G<BG@ MA>BK <HNKL> EH:=L AHF>PHKD :G= F>>MBG@ ?:FBER
K>LIHGLB;BEBMB>L EBMME> FHK> MA:G : JN:KM>K H? GHGMK:=BMBHG:E LMN=>GML :K> I:K>GML :G= 
:K> EBD>ER MH ;> LBG@E> I:K>GML 0A> ?:<> H? MA> <HEE>@> LMN=>GM BL <A:G@BG@ :L MA> =:M: LAHPL
5>LM>K=:RZL*HG0K:=BMBHG:E/MN=>GMBL0H=:RZL0K:=BMBHG:E/MN=>GM
"BG:G<B:E BG=>I>G=>G<> BGaN>G<>L :MM>G=:G<> I:MM>KGL :G= LN@@>LML : MK>G= BG <HEE>@> L>E><MBHG
;R GHGMK:=BMBHG:E LMN=>GML %G MA> !14- +456 67&; '%10& K>IHKM  I>K<>GM H? MA> LMN=>GML
P>K> >FIEHR>= PABE> :MM>G=BG@ <HEE>@> :G= MAHN@AM H? MA>FL>EO>L :L [>FIEHR>>LPAHLMN=R\
K:MA>K MA:G [LMN=>GML PAH PHKD\ LB@GB`<:GM =B_>K>G<> ;>MP>>G >FIEHR>>LPAHLMN=R :G=
\BHFC8I7H=CB
LMN=>GML PAH PHKD BL AHP MA>R ;E>G= PHKD :G= <HEE>@> :MM>G=:G<> *HM LNKIKBLBG@ER >FIEHR>>L
PAHLMN=R PHKD ?NEEMBF> :G= :MM>G= <HEE>@> I:KMMBF> LMN=>GML PAH PHKD :MM>G= <HEE>@> ?NEE
MBF>:G=PHKDI:KMMBF>
D=55<26.=7-.:0:*-=*<..7:8556.7<9*<<.:7;*55E +A *<287*5.7<.:/8:-=,*<287#<*<2;<2,; 2;27<1.
=+52,86*27
G:ERSBG@ MA> =:M: ?KHF *!/ :KHNG= <HEE>@> :MM>G=:G<> I:MM>KGL BG MA> ?:EE H?  R>:K
<HEE>@>L ;HMA IN;EB< :G= IKBO:M> A:= HO>K  H? MA>BK full-time LMN=>GM >GKHEEF>GM <HFIHL>=
H? RHNG@ :=NEML NG=>K MA> :@> H?  0ABL MK>G= P:L 016 MKN> ?HK IKBO:M> ?HKIKH`M <HEE>@>L
PA>K> RHNG@ :=NEML K>IK>L>GM>= :;HNM  H? MA> LMN=>GM IHINE:MBHG /MN=>GML HO>K  R>:KL
HE= M>G= MH L>E><M R>:K IKBO:M> ?HKIKH`M <HEE>@>L M R>:K <HEE>@>L MA> L:F> MK>G= <HNE= ;>
L>>G IIKHQBF:M>ER  H? LMN=>GML :MM>G=BG@ R>:K <HEE>@>L ;HMA IN;EB< :G= IKBO:M> P>K>
RHNG@ :=NEML :G=  P>K> HO>K MA> :@> H?  +G<> :@:BG IKBO:M> ?HKIKH`M <HEE>@>L P>K>
<HFIHL>= H? FHK> GHGMK:=BMBHG:E LMN=>GML /MN=>GML HO>K  R>:KL HE= F:=> NI  H? MA>BK
LMN=>GMIHINE:MBHG
\BHFC8I7H=CB
D *:<<26.=7-.:0:*-=*<..7:8556.7<9*<<.:7;*55E +A *<287*5.7<.:/8:-=,*<287#<*<2;<2,; 2;27<1.
=+52,86*27
<<HK=BG@ MH *!/ =:M: =NKBG@ MA> L:F> MBF> I>KBH= LMN=>GML HO>K MA> :@> H?  :<<HNGM>=
?HK G>:KER  H? MA> part-time LMN=>GML :M IN;EB< R>:K BGLMBMNMBHGL G>:KER  H? I:KMMBF>
>GKHEEF>GM :M IKBO:M> GHGIKH`M BGLMBMNMBHGL :G= HO>K  H? I:KMMBF> LMN=>GML >GKHEE>= :M R>:K
?HK IKH`M BGLMBMNMBHGL M R>:K <HEE>@>L  :M IN;EB< <HEE>@>L P>K> HO>K  R>:KL H? :@> M
MPHR>:K IKBO:M> <HEE>@>L  P>K> HO>K  R>:KL HE= M IKBO:M> ?HKIKH`M R>:K <HEE>@>L 
H?I:KMMBF>LMN=>GMLP>K>HO>KMA>:@>H?
5>LM>K=:RZL GHGMK:=BMBHG:E LMN=>GML :K> ;><HFBG@ MH=:RZL 567&'065 :G= ;KBG@BG@ PBMA MA>F
: =B_>K>GM L>M H? >QI>KB>G<>L :G= >QI><M:MBHGL !FIEHR>>LPAHLMN=R K>IHKM ;>BG@ BGM>K>LM>=
BG @:BGBG@ LDBEEL MH >GA:G<> MA>BK IHLBMBHGL HK BFIKHO> ?NMNK> PHKD HIIHKMNGBMB>L :L K>:LHGL
?HK :MM>G=BG@ IHLML><HG=:KR >=N<:MBHG %G MA> 3HKD "BKLM /MN=R /><HG= K>IHKM  H? MA>
>FIEHR>>L PAH PHKD K>IHKM>= >GKHEEBG@ BG IHLML><HG=:KR >=N<:MBHG MH @:BG : =>@K>> HK
<K>=>GMB:E
:L>= HG MA> K>L>:K<A GHGMK:=BMBHG:E LMN=>GML :K> FHK> EBD>ER MH =BLIE:R MA> ?HEEHPBG@
IK>?>K>G<>L;>A:OBHKLMA:GMK:=BMBHG:ELMN=>GML
] MM>G=<HFFNGBMR<HEE>@>L
] 3HKDMHP:K=L:G:LLH<B:M>=>@K>>:G=OH<:MBHG:E<>KMB`<:M>L
] ):CHKBGH<<NI:MBHG:E`>E=LLN<A:L<HFINM>KL<B>G<>;NLBG>LLOH<:MBHG:EM><AGB<:E`>E=L
] 0:D>?>P>K<HNKL>LBG ;>A:OBHK:EL<B>G<>L:G=@>G>K:E>=N<:MBHG
\BHFC8I7H=CB
*6G='633;=5@/>671A /BB3@
%? RHN M:ED MH I>HIE> PAH A:O> @HG> MH <HEE>@>    HK >O>G  R>:KL :@H RHN PBEE A>:K
LBFBE:K LMHKB>L :;HNM PA:M MA>BK <HEE>@> >QI>KB>G<>L P>K> EBD> HEE>@> LRLM>FL :G= LMKN<MNK:E
?HNG=:MBHGL A:O> GHM <A:G@>= FN<A ?KHF MA> I:LM 0A> <A:G@> MA:M BL A:II>GBG@ BL BG MA> LMN=>GM
=>FH@K:IAB<L :G= MA>BK G>>=L>QI><M:MBHGL %M BL BFIHKM:GM ?HK LMN=>GML MH K>:EBS> >O>KR <HEE>@>
A:L BML HPG <NEMNK> "BG=BG@ : <HF?HKM:;E> F:M<A ;>MP>>G LMN=>GM >QI><M:MBHGL :G= <HEE>@>
>QI><M:MBHGL BL >LL>GMB:E ?HK LMN=>GM LN<<>LL (HHDBG@ :M =>FH@K:IAB<L <:G A>EI LMN=>GML MABGD
:;HNM PA:M MRI> H? LMN=>GM G>>=L PHNE= BFI:<M <HEE>@> L>E><MBHG :G= AHP MA:M K>E:M>L MH MA>BK
BG=BOB=N:E G>>=L "HK >Q:FIE> PHKDBG@ LMN=>GML F:R G>>= FHK> <HNKL> H_>KBG@ MA:M :K> HGEBG> HK
A:O> LAHKM>K <E:LL L>LLBHG 3HKDBG@ LMN=>GML F:R A:O> LDBEEL ?KHF MA>BK CH;L :G= ?>>E MA:M MA>R =HGZM
G>>= <>KM:BG MRI>L H? <E:LL>L :L : K>LNEM %G :==BMBHG EHHDBG@ :M <HEE>@> L>E><MBHG =>FH@K:IAB<L
<:G A>EI I>KLI><MBO> LMN=>GML NG=>KLM:G= MA>K> :K> F:GR KH:=L MH <HEE>@> 1EMBF:M>ER <HEE>@> BL :
=RG:FB< >JN:MBHG .><H@GBSBG@ >QI><M:MBHGL ?KHF MA> LMN=>GMZL G>>=L :G= MA> <HEE>@>ZL :;BEBMR MH
IKHOB=>?HKMAHL>G>>=LBL:F:CHK?:<MHKBGMA>LMN=>GMZL<HEE>@>LN<<>LL
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH(F=;=B5@
=[9F9BH +C58 -C C@@9;9 !I=89 CF -F5BG=H=CB=B; -C C@@9;9 CF 'CBHF58=H=CB5@ ,HI89BHG
IH<CF98 6M @=G9 %5ACF95IL %C75H98 5H <HHDGCD9BCF9;CBDF9GG6CC?GDI67C@@9;9HF5BG=H=CB
:FCBHA5HH9F=BHFC8I7H=CB %=79BG92HHF=6IH=CB
85DH=CBG+9:CFA5HH98=A5;9F9ACJ98T0<M\0FCH9-<=GCC?UF9@C75H98HC)F9:579
\BHFC8I7H=CB
(<7B/C<16
3/@<7<5"0831B7D3A
:H9FMCI<5J97CAD@9H98H<=GIB=HMCIG<CI@86956@9HC
V LD@5=BH<9=ADCFH5B79C:D5GG=CB
V 9G7F=69<CKD5GG=CBF9@5H9GHC7C@@9;9GI779GG
V =G7IGGH<98=[9F9B7969HK99B=BHF=BG=7D5GG=CB5B89LHF=BG=7D5GG=CB
V LD@5=BK<M7C@@9;9=GJ5@I56@9
V \89BH=:MK<5H5GD97HGC:57C@@9;95F9=ADCFH5BHHCMCI
V =G7IGGH<9H9FA=BC@C;M5B87I@HIF9C:7C@@9;9
V )@5B5B87F95H957C@@9;9G7<98I@9
713<A3A/<2BB@70CB7=<A
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G 5B8 -=A9 &5B5;9A9BH ,HF5H9;=9G 6M 5J9 =@@CB %C75H98 5H <HHDGDF9GGF96IG7CAAIB=HM
6@I9DF=BH 'CK@=79BG985G2HHF=6IH=CB
<5DH9F)5GG=CB
=!.!2(!3<2!,,8/4.%%$(%$%2)1%3/,%!1.>
P#5=A9G75@5BH9
0ABGD :;HNM PA:M RHN :K> I:LLBHG:M> :;HNM %M FB@AM ;> ?:FBER ?KB>G=L : LB@GB`<:GM HMA>K :
I>M :G NI<HFBG@ O:<:MBHG HK PA:M RHN FB@AM A:O> ?HK =BGG>K B_>K>GM I>HIE> :K> I:LLBHG:M>
:;HNM =B_>K>GM MABG@L LD RHNKL>E? 3AR :K> RHN I:LLBHG:M> :;HNM MAHL> MABG@L 3A:M F:D>L RHN
I:LLBHG:M>:;HNMMA>F*HP:LDRHNKL>E?B?RHN:K>I:LLBHG:M>:;HNML<AHHE
CB6=@JA&B=@G
\ 75B H<=B? C: A5BM H<=B;G \ KCI@8 F5H<9F 8C H<5B G=H =B 5 7@5GGFCCA @=GH9B=B; HC 5 @97HIF9 \S8 F5H<9F 69
F9@5L=B; 5H H<9 6957< HF5J9@=B; HC 5 B9K D@579 CF D@5M=B; &5F=C $5FH K=H< AM :5A=@M 5B8 :F=9B8G IH K<9B \
K5G =B 7C@@9;9 AM 98I75H=CB K5G 9LHF9A9@M =ADCFH5BH HC A9 \ <58 5 HF9A9B8CIG 5ACIBH C: D5GG=CB K<=7<
5@@CK98 A9 HC GI77998 \ <58 H<9 5HH=HI89 H<5H BCH<=B; K5G ;C=B; HC GH5B8 =B H<9 K5M C: ;9HH=B; AM 89;F99
\B AM XFGH M95F =B 7C@@9;9 \ HCC? 5B \BHFC8I7H=CB HC ,C7=C@C;M 7@5GG H<5H ;9BI=B9@M =BH9F9GH98 A9 \H K5G
95GM HC 69 D5GG=CB5H9 56CIH =H 6975IG9 \ F95@@M @=?98 H<9 GI6>97H A5HH9F AM DFC:9GGCF 5B8 H<9 H9LH6CC?
\ 5@GC HCC? &=7FC97CBCA=7G B8 K<=@9 \ IB89FGHCC8 =HG J5@I9 5B8 =ADCFH5B79 \ K5G BCH 5G =BH9F9GH98 =B
5HH9B8=B; 5B8 7CAD@9H=B; H<9 5GG=;BA9BHG "CK9J9F \ 5@K5MG ?B9K \ B99898 HC XB8 D5GG=CB =B H<9 7CIFG9 =:
\ K5BH98 HC 69 GI779GG:I@ 5B8 577CAD@=G< AM ;C5@G (B9 GHF5H9;M H<5H KCF?98 :CF A9 K5G HC XB8 G=HI5H=CBG
K<9F9 \ 7CI@8 5DD@M 7CB79DHG =B H<CG9 @9GG =BH9F9GH=B; 7@5GG9G HC AM D9FGCB5@ @=:9 CF =BGH5B79 =: H<9 @97HIF9
5B8 H9LH6CC? K9F9 9LD@5=B=B; 5 &=7FC97CBCA=7G 7CB79DH @=?9 HCH5@ 5B8 A5F;=B5@ IH=@=HM \ KCI@8 HFM HC 5DD@M
H<=G HC GCA9H<=B; \ 7CI@8 95G=@M F9@5H9 HC \: IH=@=HM =G H<9 G5H=G:57H=CB C: H<9 7CBGIADH=CB C: 5 DFC8I7H :CF 5
7CBGIA9F \ KCI@8 H<=B? C: 5B 9L5AD@9 =BJC@J=B; F6MSG FC5GH 699: G5B8K=7<9G 5B8 6@I9 F5GD69FFM G@IFD99G
&5?=B; H<9 A5H9F=5@ A95B=B;:I@ HC A9 5@@CK98 A9 HC 69 D5GG=CB5H9 56CIH @95FB=B; GCA9H<=B; \ CH<9FK=G9
KCI@8BCH<5J9699B
=1)#+6!,,2!1%3(%1%&/1!1%!2/.3(%8,%34201/5%(/6"!$,86%6!.33().'2>
P+5B8M)5IG7<
0A>K> P>K> HMA>K :<MBOBMB>L % >GCHR>= FHK> MA:G <E:LL ;NM % DG>P BM P:L BFIHKM:GM MH `G= : I:LLBHG
?HKFR<E:LL>L;><:NL>BMP:LMA>D>RMHLN<<>>=BG@BGMA>F
%M BL <HFFHG MH A:O> HMA>K MABG@L RHN PHNE= EBD> MH =H FHK> MA:G LBMMBG@ BG <E:LL =HBG@
AHF>PHKD :G= IK>I:KBG@ ?HK >Q:FL NM RHN LMBEE FNLM A:O> I:LLBHG ?HK MA> E>:KGBG@ :G= ?HK MA>
<E:LLBGHK=>KMH;>LN<<>LL?NE
)R ?:OHKBM> =>`GBMBHG H? LN<<>LL BL ?KHF &HAG 3HH=>G [/N<<>LL BL I>:<> H? FBG= PAB<A BL : =BK><M
K>LNEM H? L>E?L:MBL?:<MBHG BG DGHPBG@ RHN =B= RHNK ;>LM MH ;><HF> MA> ;>LM RHN :K> <:I:;E> H?
;><HFBG@\
*6G@3,=C3@3
,E>:L> GHM> %M BL +' MH GHM DGHP PA:M RHNK @H:E BL PA>G RHN LM:KM <HEE>@> %G ?:<M BM BL >QMK>F>ER
<HFFHG ?HK LMN=>GMLZ GHM MH DGHP PA:M MA>BK @H:E BL HK PA:M MA>BK F:CHK BL PA>G MA>R ;>@BG
<HEE>@>;NMMA>K>BLO:EN>BGB=>GMB?RBG@RHNK@H:EL:LLHHG:LIHLLB;E>
)HK> JN>LMBHGL MH :LD RHNKL>E? 3AR :K> RHN BG <HEE>@> :G= PAR :K> RHN M:DBG@ MA> <HNKL>L RHNZK>
M:DBG@ %? RHN <:G :GLP>K MA>L> JN>LMBHGL PBMA LHEB= EH@B< :G= NG=>KLM:G= MA>BK INKIHL> :G= AHP
MA>R `M BG MH ;>BG@ BFIHKM:GM MH RHNK EB?> RHN :K> H_ MH : @K>:M LM:KM $HP>O>K B? RHN :K> M:DBG@
<E:LL>L :M LHF>HG> >EL>ZL LN@@>LMBHG :G= RHN :K> GHM @>GNBG>ER BGM>K>LM>= BG MA>F RHN F:R P:GM
MH K><HGLB=>K % =H GHM PBLA BM MH ;> FBL<HGLMKN>= MA:M % K><HFF>G= RHN =KHI HNM H? <HEE>@> K:MA>K
% P:GM RHN MH A:O> : IE:G :G= I:LLBHG MH ;> :;E> MH :<AB>O> RHNK @H:EL "HK F:GR I>HIE> AB@A>K
>=N<:MBHGBL:G><>LL:KRI:KMH?MA>BK@H:EL
% L>> F:GR LMN=>GML BG FR <HNGL>EBG@ Hb<> PAH P:GM MH ;> BG=>I>G=>GM PHKD ?NEE MBF> :G=HK
I:KMR K:MA>K MA:G @H MH <HEE>@> % :ELH L>> F:GR LMN=>GML PAH <HF> ;:<D MH : ?>P R>:KL E:M>K PBMA
:K>G>P>=I:LLBHG:G=O:EN>?HKMA>BK>=N<:MBHG
"HK <HEE>@> LN<<>LL RHN FNLM :MM>G= PA>G MA> MBF> BL KB@AM ?HK RHN $HP =H RHN DGHP B? BMZL MA>
KB@AMMBF>LDRHNKL>E?B?BMZLMA>KB@AMMBF>?HKMA>?HEEHPBG@LMN=>GMLMH@HMH<HEE>@>
] )HGB<:ZL@H:EBLMH@HMH:NGBO>KLBMR/A>P:L:<<>IM>=;NM<HNE=GZM:_HK=BM/A>>GKHEEL:M:
<HFFNGBMR<HEE>@>/A>BLI:LLBHG:M>:;HNM:MM>G=BG@<HFFNGBMR<HEE>@>:G=MA>G
MK:GL?>KKBG@MH>:KG:;:<A>EHKZL=>@K>>
] AKBLMBG:BL:AB@AL<AHHE@K:=N:M>/A>PHNE=EBD>MHM:D>:R>:KH_H?L<AHHEMHPHKD:G=
<5DH9F)5GG=CB
MK:O>E$>KI:K>GML@:O>A>K:GNEMBF:MNFL:RBG@MA:MB?LA>P:GM>=MH<HGMBGN>MHEBO>:M
AHF>LA>A:=MH@HMH<HEE>@>?NEEMBF>
] &:OB>K<HFIE>M>=HG>R>:KH?<HEE>@>MA>G@HMF:KKB>=BGABL>:KERL$>:G=ABLLIHNL>K:BL>=
?HNK<ABE=K>G:G=A>A:L;>>GPHKDBG@?HKR>:KLBG:GNGBGM>K>LMBG@EHPI:RBG@CH;$>
:EP:RLP:GM>=MH`GBLA<HEE>@>:G=GHP`G:EERA:LMA>MBF>MH@H;:<DMHL<AHHE
] G=RBLBGM>K>LM>=BGI:KMRBG@:G=EBMME>>EL>$>DGHPLABL<HEE>@>>=N<:MBHGBLBFIHKM:GM;NM
BMBL:EHPIKBHKBMR:MMABLIHBGM
P<B@7<A71DAFB@7<A71#/AA7=<
/HF>MBF>L P> :K> FHMBO:M>= ;R : LI><B`< =>LBK>= HNM<HF> H? I>K?HKFBG@ : M:LD /HF> I>HIE> IE:R
: @:F> ;><:NL> MA>R P:GM MH PBG %G >=N<:MBHG LHF> LMN=>GML PHKD A:K= ;><:NL> MA>R P:GM MH
K><>BO> : @HH= @K:=> HK MK:GL?>K MH : IK>LMB@BHNL NGBO>KLBMR ,:K>GML H? RHNG@>K <ABE=K>G F:R @BO>
:FHG>M:KRK>P:K=?HK>:<AMA>LMN=>GM>:KGL0ABLBL>QMKBGLB<FHMBO:MBHG
%GM>K>LM =>LBK> MH E>:KG :G= >GCHRF>GM H? : LN;C><M :K> <A:K:<M>KBLMB<L H? BGMKBGLB< FHMBO:MBHG HK
PA:M P> <:EE I:LLBHG ,:LLBHG ?HK RHNK >=N<:MBHG FNLM <HF> ?KHF PBMABG %? RHNK >=N<:MBHG:E
@H:EL I:LLBG@ : <HEE>@> <HNKL> :<JNBKBG@ G>P LDBEEL HK :MM:BGBG@ : =>@K>> :K> BFIHKM:GM >GHN@A
MH RHN RHNK FHMBO:MBHG <:G ;><HF> BGMKBGLB< :EEHPBG@ RHN MH `G= I:LLBHG PAB<A PBEE A>EI RHN
K>:<A RHNK @H:EL 3BMAHNM I:LLBHG RHN F:R `G= RHNKL>E? LMKN@@EBG@ PBMA=K:PBG@ ?KHF <HNKL>L
>:KGBG@ IHHK @K:=>L HK =KHIIBG@ HNM !QM>KG:E K>P:K=L H? :L<>G=BG@ MH : <>KM:BG :<:=>FB< E>O>E HK
:<JNBKBG@ P>:EMA EHL> LHF> H? MA>BK :II>:E B? LMN=>GML =H GHM `G= MA> PHKD MH @>M MA>K> I>KLHG:EER
K>P:K=BG@ 0A>L> LMN=>GML PAH MKNER >F;K:<> MA>BK PHKD :K> BGMKBGLB<:EER FHMBO:M>= W I:LLBHG:M>
PABE> MAHL> PAH :K> ?H<NL>= F:BGER HG @K:=>L K>P:K=L ?HK AB@A :<AB>O>F>GM :G= INGBLAF>GM ?HK
IHHK I>K?HKF:G<> :K> >QMKBGLB<:EER FHMBO:M>= 0KHIAB>L F>=:EL FHG>R G>P <EHMA>L HK : G>P <:K
:K> >Q:FIE>L H? >QMKBGLB< FHMBO:MHKL +G> <HNE= :K@N> [MA> >G= CNLMB`>L MA> F>:GL\XMA:M BM =H>LGZM
F:MM>K B? : LMN=>GMLZ I:LLBHG <HF>L BGM>KG:EER HK >QM>KG:EER :L EHG@ :L MA>R :<<HFIEBLA MA>BK @H:EL
$HP>O>KPA>GMA>K>P:K=BLE>:KGBG@BML>E?MA>LMN=>GMBLHGKH:=MHEHG@M>KFLN<<>LL
=.,80!22)/.2'1%!30!22)/.2#!.%,%5!3%3(%2/4,3/'1%!33().'2>
P9B=G=89FCH
'636=713PA,=C@A
% ;>EB>O> HG> H? MA> ;>LM =><BLBHGL RHN <:G F:D> BL MH :MM>G= <HEE>@> B? RHN :K> I:LLBHG:M> :;HNM
BM :G= BM BL MA> KB@AM MBF> ?HK RHN +G MA> HMA>K A:G= BM BL ;>MM>K MH IHLMIHG> :MM>G=BG@ <HEE>@>
B? RHN :K> GHM I:LLBHG:M> :;HNM BM HK ?>>E MA> MBF> BL GHM KB@AM ,E>:L> =H GHM FBLNG=>KLM:G= W %
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
:F GHM =BL<HNK:@BG@ :GRHG> ?KHF @HBG@ MH <HEE>@> GHK :F % >G<HNK:@BG@ :GRHG> MH =KHI HNM H?
<HEE>@> G= % =H GHM >QI><M RHN MH ;> I:LLBHG:M> :;HNM >O>KR :LI><M H? <HEE>@> 0A>K> P>K> LHF>
<E:LL>L :G= LHF> K>JNBK>F>GML MA:M % =BLEBD>= =NKBG@ FR HPG <HEE>@> >QI>KB>G<> )R <HG<>KG
AHP>O>K BL LMN=>GML PAH LM:KM <HEE>@> :G= :K> GHM I:LLBHG:M> :;HNM BM ?M>K : ?>P R>:KL :G= : IHHK
MK:GL<KBIM MA>R F>>M PBMA : <HNGL>EHK L:RBG@ MA>R P>K>GZM BG <HEE>@> ?HK MA> KB@AM K>:LHGL P>K>GZM
L>KBHNL :;HNM MA>BK >=N<:MBHG =B=GZM DGHP PA:M MA>R P>K> =HBG@ HK^ [FR I:K>GML F:=> F> @H\
0A>K> :K> LHF> LN@@>LMBHGL BG MABL ;HHD MA:M <:G :LLBLM : I:LLBHG:M> LMN=>GM MH LN<<>>= NM :EE H?
MA> LN@@>LMBHGL BG MA> PHKE= PBEE GHM A>EI : LMN=>GM E:<DBG@ I:LLBHG %G MA> >G= % P:GM RHN MH
;> LN<<>LL?NE :G= % P:GM RHN MH >GCHR <HEE>@> ;NM % ;>EB>O> MA>L> :K> G>:KER BFIHLLB;E> PBMAHNM
I:LLBHG
=/3().''1%!3).3(%6/1,$(!2%5%1"%%.!##/-0,)2(%$6)3(/430!22)/.>
P"9669@
0A>K> BL : L<>G> ?KHF MA> FHOB> />K>G=BIBMR PA>K> >:GZL <A:K:<M>K L:RL [5HN DGHP MA> #K>>DL
=B=GZM PKBM> H;BMN:KB>L 0A>R HGER :LD>= HG> JN>LMBHG :?M>K : F:G =B>= Y B= A> A:O> I:LLBHGZ\
% PBEE E>:O> BM NI MH RHN MH =><B=> B? MABL BL MKN> HK B? BM BL $HEERPHH= M:DBG@ : EB;>KMR ;NM >BMA>K
P:R MA:M JNHM> A:L LM:R>= PBMA F> 5HN <:G ;> LN<<>LL?NE BG <HEE>@> 0ABL M>QM;HHD BL : CHNKG>R BG
`@NKBG@HNMAHPRHN:K>@HBG@MH@>MMA>K>
713<A3A/<2BB@70CB7=<A
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G 5B8 -=A9 &5B5;9A9BH ,HF5H9;=9G 6M 5J9 =@@CB %C75H98 5H <HHDGDF9GGF96IG7CAAIB=HM
6@I9DF=BH 'CK@=79BG985G2HHF=6IH=CB
<5DH9F)5GG=CB 
<5DH9F0<5HSGC@@9;9 CF
“Learning is a treasure that will follow its owner everywhere>
P <=B9G9)FCJ9F6
3A:MZL <HEE>@> ?HK 0A:MZL : EBMME> JN>LMBHG PBMA : ;B@ :GLP>K <HEE>@> >=N<:MBHG <HF>L BG F:GR
LA:I>L :G= LBS>L %G  :<<HK=BG@ MH MA> *:MBHG:E >GM>K ?HK !=N<:MBHG /M:MBLMB<L MA>K> P>K>
HO>K=B_>K>GMIHLML><HG=:KR=>@K>>@K:GMBG@BGLMBMNMBHGL>QBLMBGMA>1GBM>=/M:M>L
<
0A>L> L<AHHEL F:R ;> IN;EB< IKBO:M> K>EB@BHNL LF:EE E:K@> ?HKIKH`M <HFFNGBMR <HEE>@>L
CNGBHK <HEE>@>L HGLB=>KBG@ MA> O:KB>MR H? <HEE>@> HIMBHGL MA>K> BL GH LBG@E> :GLP>K MH MA>
JN>LMBHG [3A:M BL <HEE>@> ?HK\ K>G=: $>EER>K A:G<>EEHK H? /:G &:<BGMH HEE>@> BG $HNLMHG
:G= ,:L:=>G: 0>Q:L PKHM> BG MA> AKHGB<E> H? $B@A>K !=N<:MBHG MA:M LMN=>GML [:K> L>>DBG@ FHK>
MA:G:G>=N<:MBHGXMA>R:K>L>>DBG@HIMBHGLHIIHKMNGBMB>L:G=@NB=:G<>\
=E2=G=CD73E1=::353
*6/BE7::23M<31=::353AC113AA4=@G=C
,>HIE> @H MH <HEE>@> ?HK : O:KB>MR H? K>:LHGL 0A> MRI> H? <HEE>@> RHN L>E><M PBEE A>EI L>M I:K:F>M>KL
:G= >QI><M:MBHGL ?HK RHNK >QI>KB>G<>L >?HK> CNFIBG@ BGMH MA> =>M:BEL H? @HBG@ MH <HEE>@> BMZL
BFIHKM:GM MH LMHI :G= MABGD :;HNM MA> INKIHL> <HEE>@> A:L BG RHNK EB?> 0K:=BMBHG:EER <HEE>@> P:L :
IE:<> RHNG@ :=NEML P>GM :?M>K AB@A L<AHHE MH >QIEHK> <HNKL>L :G= F:CHKL ;>?HK> L>MMEBG@ BGMH : CH;
I:MA <<HK=BG@ MH :  1( LNKO>R FHLM I>HIE> <NKK>GMER @H MH <HEE>@> ?HK HG> HK FHK> H?
F:BGK>:LHGL
=
<3 .3,3&RS6)S$S,SS3J=;<AK3 Digest of Education
Statistics, 2015 J)$,=;<AG;<?K6 -<;@3@;3
=3 6 36,63'36'6"3 36"6!3$36,6!3+36P+SG"S6$3J=;<@K3
The American Freshman: National Norms Fall 20153 "4SS+S6
.$"3
0H;>:;E>MH@>M:;>MM>KCH;
0H@:BG:@>G>K:E>=N<:MBHG:G=:IIK><B:MBHGH?B=>:L
0H;><HF>:FHK><NEMNK>=I>KLHG
0H;>:;E>MHF:D>FHK>FHG>R
0HE>:KGFHK>:;HNMMABG@LMA:MBGM>K>LMF>
0H@>MMK:BGBG@?HK:LI><B`<<:K>>K
0HIK>I:K>?HK@K:=N:M>HKIKH?>LLBHG:EL<AHHE
)723= Don’t Just Follow Your Passion: A Talk for Generation Y,Don’t Just Follow Your Passion: A Talk for Generation Y, C<71377/B
'F'3@@G'/:9A
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
*6/B7;>@3AA7=<2=3AB67A''/:9:3/D3G=CE7B6*671653<3@/B7=</@3
G=C
G :KMB<E> ?KHF  BG MA> 3:LABG@MHG ,HLM 3A:MZL MA> INKIHL> H? <HEE>@> CH; HK :G
>=N<:MBHG L:RL MA:M LMN=>GML >GM>KBG@ <HEE>@> MH=:R EBLM @>MMBG@ : ;>MM>K CH; :L MA> FHLM BFIHKM:GM
K>:LHG MH :MM>G= <HEE>@> %G MA> I:LM E>:KGBG@ :;HNM MABG@L MA:M BGM>K>LM>= MA>F P:L EBLM>= :L MA>
MHI K>:LHG MH :MM>G= <HEE>@> 3A>G =B= MA> <A:G@> BG IKBHKBMR H<<NK :G >KK>MM L:RL MA> <A:G@>
BGIKBHKBMR<:G;>EBGD>=MH.HG:E=.>:@:GPA>GA>P:L#HO>KGHKH?:EB?HKGB:
>
<5DH9F0<5HSGC@@9;9 CF 
!<HGHFB< MBF>L P>K> MHN@A BG  ?HK :EB?HKGB: !O>KRHG> G>>=>= MH [MB@AM>G MA>BK ;>EML\ M
MA:M MBF> :EB?HKGB: P:L DGHPG ?HK BML >Q<>EE>GM AB@A>K >=N<:MBHG:E LRLM>F %G : LI>><A .>:@:G
@:O> HG ">;   : FHGMA BGMH ABL M>KF :L #HO>KGHK .>:@:G :LLNK>= I>HIE> MA:M A> PHNE=GZM
=H :GRMABG@ MH A:KF MA> JN:EBMR H? MA>BK IN;EB< >=N<:MBHG LRLM>F [NM\ A> :==>= [3> =H ;>EB>O>
MA:M MA>K> :K> <>KM:BG BGM>EE><MN:E ENQNKB>L MA:M I>KA:IL P> <HNE= =H PBMAHNM\ 0:QI:R>KL LAHNE=
GHM ;> [LN;LB=BSBG@ BGM>EE><MN:E <NKBHLBMR\ A> L:B= R MA> MBF> .>:@:G PHG MA> IK>LB=>G<R BG
 IK:<MB<:E =>@K>>L A:= ;><HF> MA> IHINE:K <AHB<> %G MA> L :KHNG= MA> MBF> .>:@:G
P>GM MH <HEE>@> :;HNM  H? LMN=>GML F:CHK>= BG [;NLBG>LL :G= <HFF>K<>\ 3A>G A> P:L >E><M>=
#HO>KGHK MA:M LA:K> P:L  R MA> MBF> A> FHO>= BGMH MA> 3ABM> $HNL> FHK> LMN=>GML
F:CHK>=BG;NLBG>LLMA:G:GRMABG@>EL>NLBG>LL:L:F:CHKA:LA>E=MA:MMHILIHM>O>KLBG<>
*6/B4@/;3AG=C@D/:C3=432C1/B7=<
*6/B97<2=4@3BC@<=<G=C@7<D3AB;3<B2=G=C3F>31B4@=;1=::353
><B=BG@ MH @H MH <HEE>@> A:L :G [12214670+6;12214670+6; %%156156\ G HIIHKMNGBMR <HLM BL ;:L>= HG MA> ><HGHFB<
IKBG<BIE> MA:M MA>K> :K> EBFBM>= K>LHNK<>L :O:BE:;E> :G= <AHB<>L FNLM ;> F:=> !Q:FIE>L H?
K>LHNK<>L PHNE= ;> MABG@L EBD> MBF> :G= FHG>R %? RHN :K> LI>G=BG@ MBF> =HBG@ LHF>MABG@ RHN
FNLM @BO> NI =HBG@ LHF>MABG@ >EL> RHN P:GM MH =H 0A:M BL MA> HIIHKMNGBMR <HLM H? RHNK <AHB<>
#HBG@ MH <HEE>@> PBEE A:O> :G HIIHKMNGBMR <HLM BG RHNK EB?> G BFIHKM:GM JN>LMBHG MH :LD BG MA>
;>@BGGBG@H?RHNK<HEE>@>O>GMNK>BLPA:M:K>RHNPBEEBG@MHMK:=>H_?HK@HBG@MH<HEE>@>
+IIHKMNGBMR <HLML :K> MB>= MH MA> B=>: H? K>MNKG HG BGO>LMF>GM +G<> RHN F:D> :G BGO>LMF>GM
H? RHNK MBF> :G= FHG>R BG <HEE>@> PA:M BGO>LMF>GM :K> RHN AHIBG@ MH @>M BG K>MNKG $HP RHN
=>`G> LN<<>LL BG K>E:MBHGLABI MH RHNK <HEE>@> >QI>KB>G<> BFI:<ML AHP RHN L>> MA> <HG<>IM H? K>MNKG
HG BGO>LMF>GM /HF> P:RL MH @:N@> K>MNKG HG BGO>LMF>GM BG<EN=> CH; HIIHKMNGBMB>L :?M>K <HEE>@>
BFF>=B:M> `G:G<B:E ;>G>`M MH >:KG>= P:@>L LH<B:E G>MPHKD<HGG><MBHGL F:=> PABE> :MM>G=BG@
<HEE>@> =>O>EHIF>GM H? <HFFNGB<:MBHG :G= HMA>K [LH?M LDBEEL\ :G= I>KLHG:E >GKB<AF>GM :G=HK
A:IIBG>LL
/AHKMM>KF K>P:K=L <HFI:K>= MH EHG@M>KF K>P:K=L :K> :GHMA>K P:R MH EHHD :M K>MNKG HG
BGO>LMF>GM "HK >Q:FIE> BM M:D>L FN<A EHG@>K MH ;><HF> : !+ AB>? !Q><NMBO> +b<>K H?
: <HFI:GR MA:G BM =H>L MH @>M : P>EEI:B= CH; :M MA> L:F> <HFI:GR B_>K>GM LDBEEL PHNE= ;>
K>JNBK>= ?KHF MA> !+ :G= BM F:R K>JNBK> FHK> BGO>LMF>GM MH :<JNBK> MAHL> LDBEEL "K:G<>L
KHG>M MA> >:G H? MA> /<AHHE H? K<ABM><MNK> :M MA> 1GBO>KLBMR H? +K>@HG <HG=N<M>= : LNKO>R
H? ?HKF>K >G@BG>>KBG@ @K:=N:M>L PA>G LA> M:N@AM :M .>GLL>E:>K ,HERM><AGB< %GLMBMNM> /A> :LD>=
?HKF>K @K:=N:M>L PA:M MA>R ?>EM MA>R A:= FBLL>= BG MA>BK >=N<:MBHG 0A> K>LNEML P>K> O>KR =B_>K>GM
=>I>G=BG@ HG AHP K><>GM MA>BK @K:=N:MBHG P:L /MN=>GML PAH A:= @K:=N:M>= R>:K :@H ?>EM
MA:M MA>R G>>=>= FHK> M><AGB<:E LDBEEL ,>HIE> PAH A:= @K:=N:M>= R>:KL :@H ?>EM MA:M MA>R G>>=>=
FHK> F:G:@>F>GM LDBEEL :G= I>HIE> PAH A:= @K:=N:M>=  R>:KL :@H ?>EM MA:M MA>R G>>=>=
FHK><NEMNK:EEBM>K:<R;><:NL>MA>BKPHKDGHPBGOHEO>=FHK>PHKDBG@PBMAHMA>K<NEMNK>L
><B=BG@ MH @H MH <HEE>@> BL : ;B@ =><BLBHG :G= <AHHLBG@ : <HNKL> H? LMN=R <:G L>>F
>3 '6&39-&*$$38S3R34LL3SG
3RLSL-G&GG*GG$L<@<>@BJ"S=A6=;<DK3
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
HO>KPA>EFBG@ MH F:GR LMN=>GML HGLB=>KBG@ MA> <A:G@BG@ PHKE= P> EBO> BG DGHPBG@ PA:M
=BK><MBHG MH @H BL GHM >:LR <<HK=BG@ MH .B<A:K= .BE>R L><K>M:KR H? >=N<:MBHG NG=>K BEE EBGMHG
[3> :K> <NKK>GMER IK>I:KBG@ LMN=>GML ?HK CH;L MA:M =HGZM >QBLM NLBG@ M><AGHEH@R MA:M A:O>GZM ;>>G
BGO>GM>=BGHK=>KMHLHEO>IKH;E>FLMA:MP>=HGZM>O>GDGHP\
)723= Do Schools Kill Creativity?Do Schools Kill Creativity? 3<%=07<A=</B'
 - 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
#3@A=</:P<D3<B=@G$C3AB7=<A
 3AR:K>RHNA>K>
 3AR<HEE>@>PARGHP
 $HP=HRHN=>`G><HEE>@>
 3A:M=HRHNBF:@BG><HEE>@>EB?>MH;>EBD>
 $HP=HRHNDGHPPA>GRHN:K>K>:=R?HK<HEE>@>
 3A:MA:O>RHN=HG>MHIK>I:K>?HK<HEE>@>
 3A:M=HRHNMABGD<HEE>@>>QI><ML?KHFLMN=>GML
 3A:M=H>L@HBG@MH<HEE>@>F>:G?HKRHNK?NMNK>
 1LBG@MA>EBLMH?K>:LHGLLMN=>GML:MM>G=<HEE>@>IKHOB=>=BGMABL<A:IM>KK:GD RHNKK>:LHGL
?HK@HBG@MH<HEE>@>
<5DH9F0<5HSGC@@9;9 CF 
 %GRHNKHIBGBHGBLBM:@HH=B=>:?HK:<:=>FB<<HNGL>EHKLMHLM>>KAB@AL<AHHEDB=LMHP:K=L
>BMA>K:R>:K=>@K>>HKOH<:MBHG:EMK:BGBG@
 /AHNE=LMN=>GML;>LM>>K>=MHP:K=L<:K>>KLMA:MPHNE=;>:@HH=[`M\?HKMA>F
 +IIHKMNGBMRHLMG:ERLBLK>:M>:IB><A:KMB=>GMB?RBG@AHPRHN<NKK>GMERLI>G=RHNK
MBF>=:BERP>>DER
&C553AB32%3/27<5A
3A:MZLHEE>@>"HK AKHGB<E>H?$B@A>K!=N<:MBHG
$HP0HLL>LL0A>.>:E,:R+_+?HEE>@> >@K>> ;R/<HMM:KELHG 
3A:MZL0A>,NKIHL>H?HEE>@>&H;HKG!=N<:MBHG ;R&>_>KR&/>EBG@H
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH,<5F98DF9J=CIG@M
=[9F9BH +C58 -C C@@9;9 !I=89 CF -F5BG=H=CB=B; -C C@@9;9 CF 'CBHF58=H=CB5@ ,HI89BHG
IH<CF98 6M @=G9 %5ACF95IL %C75H98 5H <HHDGCD9BCF9;CBDF9GG6CC?GDI67C@@9;9HF5BG=H=CB
7<5DH9F7<5DH9F %=79BG92HHF=6IH=CB
85DH=CBG +9:CFA5HH98 8898 @95FB=B; C6>97H=J9G &C8=X98 F95GCBG :CF ;C=B; HC 7C@@9;9 .D85H98
GCIF79G
$9B+C6=BGCBC,7<CC@G$=@@F95H=J=HMIH<CF986M-7CA
%C75H985H <HHDGKKKH987CAH5@?G?9B4FC6=BGCB4G5MG4G7<CC@G4?=@@47F95H=J=HM
%=79BG92P'P'\BH9FB5H=CB5@
@@F=;<HGF9G9FJ987CBH9BH
CBSH#IGH C@@CK2CIF)5GG=CB-5@?:CF!9B9F5H=CB2IH<CF986M-L-5@?G
%C75H98 5H <HHDGMCIHI69G;6N68L-A %=79BG9 @@ +=;<HG +9G9FJ98 %=79BG9 -9FAG ,H5B85F8
2CI-I69@=79BG9
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
<5DH9F0CF8GC:0=G8CA-<9,HI89BH
LD9F=9B79
Kristen Mruk
3A>G MABGDBG@ :;HNM <HEE>@> PA:M <HF>L MH FBG= ,>KA:IL LM>K>HMRIB<:E BF:@>L HK
FBL<HG<>IMBHGLH?<HEE>@>EB?>:?KB>G=HKLB;EBG@ZLLMHKRHKL<>G>L?KHFIHINE:KFHOB>L
D$1.#<=-.7<@9.:2.7,.E+A:2;<.7:=4
%G IHINE:K <NEMNK> LHF> FHOB>L =>IB<M <HEE>@> EB?> :L : I:KMR :MFHLIA>K> BG PAB<A LMN=>GML
;BG@> =KBGD :G= P:LM> MA>BK I:K>GMLZ FHG>R MH A:O> : @HH= MBF> PBMAHNM <HGL>JN>G<> "BEFL
BG<EN=BG@ #6+10#. #/2110>5 0+/#. 175' :G= #0 !+.&'4 :L P>EE :L %%'26'& MH G:F> : ?>P
IHKMK:R MA> LMN=>GM >QI>KB>G<> :L : ;E:M:GM =BLK>@:K= ?HK >=N<:MBHG <HNIE>= PBMA >Q<>LLBO> =KNGD>G
;N_HHG>KR $HP>O>K FR 2#46; >QI>KB>G<> BEENLMK:M>L : LB=> MH <HEE>@> MA:M BL GHM @>G>K:EER BG MA>
EBF>EB@AM
NKBG@ FR `KLM P>>DL BG <HEE>@> % ?>EM =BL<HGG><M>= ?KHF MA> <:FINL :G= ?>:K>= MA:M %
PHNE= GHM F:D> ?KB>G=L HK `G= FR GB<A> % P:L <HFFNMBG@ ?KHF FR ?:FBERZL AHF> :G=
P:GM>= MH =H FHK> HG <:FINL MA:G CNLM @H MH :G= ?KHF <E:LL % P:L >GKHEE>= BG : "BKLM5>:K
!QI>KB>G<> "5! <HNKL> MA:M P:L BGM>G=>= MH IKHOB=> : ?K:F>PHKD ?HK : LN<<>LL?NE NG=>K@K:=N:M>
<:K>>K :G= ;>RHG= %G MA> <E:LL P> E>:KG>= :;HNM LMN=>GM LNIIHKM L>KOB<>L HG <:FINL MNMHKBG@
I>KLHG:E P>EEG>LL :<:=>FB< :=OBL>F>GM >M< :L P>EE :L I>KLHG:E LN<<>LL LDBEEL MBF> :G= `G:G<B:E
F:G:@>F>GMO:EN>L>QIEHK:MBHG>M<
>BG@ : G>P LMN=>GM :G= : <HFFNM>K % P:L HO>KPA>EF>= ;R MA> :FHNGM H? G>P BG?HKF:MBHG
G>P M>KKBMHKR <:FINL <NEMNK> :G= NG?:FBEB:K IKH<>LL>L % :LD>= FR "5! BGLMKN<MHK :?M>K <E:LL HG>
=:R B? MA>K> P:L LHF>MABG@ % <HNE= =H MH ?>>E FHK> <HGG><M>= MH <:FINL /A> HI>G>= FR >R>L MH
:LB=>H?<HEE>@>MA:M%P:LFBLLBG@XMABLP:LFRBGOBM:MBHGMHMA> 2#46;
)R "5! BGLMKN<MHK IKHFIMER E>= F> MH A>K Hb<> BGMKH=N<>= F> MH MA> LM:_ :G= >QIE:BG>= MA>
O:KB>MR H? BGOHEO>F>GM HIIHKMNGBMB>L :O:BE:;E> MAKHN@A A>K Hb<> % P:L :F:S>= MA:M MA>K> P:L LH
FN<A MH =H HG <:FINL ><:NL> H? MA:M F>>MBG@ % =><B=>= MH :IIER ?HK : CH; BG MA> /MN=>GM 1GBHG
PHKDBG@ :M MA> BG?HKF:MBHG =>LD 0ABL IHLBMBHG P:L : <:M:ERLM ?HK :EE H? MA> :==BMBHG:E 2#46+'5 %
PHNE= ;> BGOBM>= MH MAKHN@AHNM FR MBF> :L :G NG=>K@K:=N:M> LMN=>GM 3BMA LH F:GR IHLLB;BEBMB>L
%A:=MH;>=BEB@>GMBGIKBHKBMBSBG@FRMBF>:G=>G>K@R
*6/B G@73<2A'67<9P=
"KB>G=L DG>P F> MH ;> FN<A EBD> MA> @BKE BG MA> F>F> :;HO> % P:L CN@@EBG@ >QMK:<NKKB<NE:K
:<MBOBMB>L :G= MPH CH;L :EE PABE> F:BGM:BGBG@ : ?NEE <HNKL> EH:= % A:= MH ;> IKH:<MBO> :G= =BEB@>GM
MH <HHK=BG:M> :<MBOBMB>L :G= :LLB@GF>GML :G= F:D> LNK> % A:= MA> MBF> MH =H BM :EE "BG=BG@ :
LRLM>F P:L : MKB:E :G= >KKHK IKH<>LL ;NM NEMBF:M>ER % ?HNG= : F>MAH= MA:M PHKD>= ?HK F> % P:L
:G NG=>K@K:=N:M> LMN=>GM PA>G :IIL =B=GZM >QBLM :G= ":<>;HHD P:L CNLM ;><HFBG@ IHINE:K LH
FR HK@:GBS:MBHG:E LRLM>F BG<EN=>= : IE:GG>K : I>G :G= : EHM H? AB@AEB@AM>KL 3A:M>O>K MA:M
HK@:GBS:MBHG:ELRLM>FEHHDLEBD>?HKRHN=H>LGHMF:MM>K:LEHG@:LRHNNL>BM
0A>K> :K> : O:KB>MR H? HK@:GBS:MBHG:E F>MAH=L :G= MHHEL RHN <:G NL> MH LM:R HG MK:<D PBMA :EE
:LI><ML H? RHNK EB?> :L : LMN=>GM /HF> H? MAHL> :K> ?>:MNK>= BG MA> /M:M> 1GBO>KLBMR H? *>P 5HKD
/1*5;EH@ AMMI;EH@LNGR>=NM:@:IIL
*6/B G#/@3<BA'67<9P=
%M F:R ;> =Bb<NEM MH =BL<NLL RHNK LMN=B>L :G= >=N<:MBHG:E >QI>KB>G<> PBMA : I:K>GM HK LHF>HG>
MA:M A:L : LB@GB`<:GM BGM>K>LM BG RHNK :<:=>FB< :<AB>O>F>GM 0ABL P:L MA> <:L> ?HK F> % P:L
MA> `KLM DB= BG FR AHNL> MH >GKHEE BG <HEE>@> :G= FR I:K>GML P>K> NG=>K MA> BFIK>LLBHG MA:M
@K:=>L PHNE= ;> L>GM AHF> EBD> MA>R P>K> BG AB@A L<AHHE NKBG@ MA> *>P /MN=>GM +KB>GM:MBHG
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
IKH@K:F FR )HF E>:KG>= :;HNM "!., ">=>K:E !=N<:MBHG:E .B@AML :G= ,KBO:<R <M :G= PA:M
MA:M F>:GM ?HK FR @K:=>L ["!., @BO>L I:K>GML <>KM:BG KB@AML PBMA K>LI><M MH MA>BK <ABE=K>GZL
>=N<:MBHG K><HK=L 0A>L> KB@AML MK:GL?>K MH MA> LMN=>GM PA>G A> HK LA> K>:<A>L MA> :@> H?  HK
:MM>G=L : L<AHHE ;>RHG= MA> AB@A L<AHHE E>O>E\ %G >LL>G<> I:K>GML <:GGHM :<<>LL @K:=>L HK HMA>K
K>LMKB<M>= :<:=>FB< BG?HKF:MBHG NGE>LL RHN IKHOB=> BM MH MA>F AMMIPPP>=@HOIHEB<R@>G
@NB=?I<H?>KI:BG=>QAMFELK<?M
% P:L ?HKMNG:M> >GHN@A MH A:O> FR I:K>GMLZ `G:G<B:E LNIIHKM MHP:K= MNBMBHG LH MA>R ?>EM >GMBME>=
MH K>OB>PBG@ FR @K:=>L :M MA> >G= H? >:<A L>F>LM>K % =B= GHM P:GM MH @BO> MA>F =BK><M :<<>LL
MH FR @K:=> K>IHKM ;R `EBG@ : "!., P:BO>K LH :?M>K FN<A =>EB;>K:MBHG % :@K>>= MH LA:K> FR
@K:=>L HG<> K>E>:L>= :M MA> L>F>LM>KZL >G= %? MA>BK LM:G=:K=L P>K> GHM F>M MA>K> PHNE= A:O> MH ;>
:<HGO>KL:MBHG:;HNMK>I>K<NLLBHGL
%G MA> ?:EE H? FR LHIAHFHK> R>:K % MHHD FR `KLM HGEBG> <HNKL>X%GMKH=N<MBHG MH HFINM>KL :G=
/M:MBLMB<L EE H? MA> E><MNK>L :G= :LLB@GF>GML P>K> :O:BE:;E> HGEBG> :M :GRMBF> :G= >Q:FL P>K>
:=FBGBLM>K>= BG : <HFINM>K E:; HG <:FINL % MAHN@AM A:OBG@ MA> :;BEBMR MH OB>P E><MNK>L HG FR
HPG MBF> PHNE= ;> FHK> <HG=N<BO> MH FR L<A>=NE> :L % P:L ;><HFBG@ FHK> BGOHEO>= HG <:FINL
"HK MA> `KLM ?>P P>>DL H? <E:LL>L % P:M<A>= MA> E><MNK>L K>@NE:KER :G= =B= MA> :LLB@GF>GML HG MBF>
/EHPER ;NM LNK>ER % ?HNG= FRL>E? IKBHKBMBSBG@ FR MBF> =B_>K>GMER NEMBF:M>ER INMMBG@ FR HGEBG>
<E:LL HG MA> ;:<D ;NKG>K ;><:NL> % MHE= FRL>E? MA> PHKD <HNE= ;> =HG> :GRMBF> R MA> >G=
H? MA> L>F>LM>K % K>:EBS>= MA:M % P:L @HBG@ MH ?:BE MA> <E:LL *H :FHNGM H? >QMK: <K>=BM <KRBG@ HK
IE>:=BG@<HNE=L:O>FR@K:=>%A:=>:KG>=:G"
/>>BG@ : ?:BEBG@ @K:=> HG FR MK:GL<KBIM M:N@AM F> MPH O:EN:;E> E>LLHGL "BKLM % =BL<HO>K>= MA:M
% G>>=>= MA> KHNMBG> :G= :<<HNGM:;BEBMR H? :G BGI>KLHG <E:LL MH >GLNK> FR I:KMB<BI:MBHG BG MA>
F:M>KB:E /><HG= % P:L K>LIHGLB;E> ?HK MA> @K:=>L % K><>BO>= % IKH;:;ER <HNE= A:O> <HF> NI PBMA
: FBEEBHG >Q<NL>L ?HK PAR % =B=GZM P:M<A MA> E><MNK>L HK =H MA> :LLB@GF>GML ;NM MA> K>:EBMR P:L %
CNLM =B=GZM =H BM % =B= GHM L>>D FR IKH?>LLHKZL A>EI =NKBG@ MA>BK Hb<> AHNKL PA>G % LM:KM>= MH ?:EE
;>ABG= % =B= GHM @H MH MA> MNMHKBG@ <>GM>K HG <:FINL MH @>M >QMK: A>EI :G= % =B= GHM K>:<A HNM MH
FR<E:LLF:M>LMH?HKFLMN=R@KHNIL
EMAHN@A MA> " MA:M % K><>BO>= PBEE G>O>K =BL:II>:K ?KHF FR MK:GL<KBIM BM BL :G BFIHKM:GM
K>FBG=>K H? MA> @KN>LHF> <HGO>KL:MBHG % A:= PBMA FR I:K>GML :G= MA> ?>>EBG@ H? ?:BENK> BG MA>
IBM H? FR LMHF:<A *>>=E>LL MH L:R MA:M P:L MA> HGER HGEBG> <HNKL> % MHHD =NKBG@ FR <HEE>@B:M>
<:K>>K;NMBMP:L:;LHENM>ERPHKMAMA>E>LLHGLE>:KG>=
*6/B G#@=43AA=@A=>3P=
,KH?>LLHKL =H <:K> :;HNM AHP RHN :K> =HBG@ BG MA>BK <E:LL MA>R @>GNBG>ER P:GM RHN MH LN<<>>=
;NM MA>R PBEE @BO> RHN MA> @K:=> RHN >:KG 0A>K> :K> I>HIE> :G= K>LHNK<>L HG <:FINL ?HK RHN MH
NMBEBS>LHRHN<:G>:KGMA>@K:=>RHNP:GM
5HNK IKH?>LLHKL :K> HG> H? MAHL> K>LHNK<>L :G= :K> I>KA:IL MA> FHLM BFIHKM:GM #H L>> MA>F
=NKBG@ Hb<> AHNKL :LD MA>F JN>LMBHGL :;HNM MA> F:M>KB:E :G= @>M >QMK: A>EI B? RHN G>>= BM 0A>
<:O>:M A>K> BL MA:M RHN <:GGHM P:BM NGMBE MA> E:LM P>>D H? MA> L>F>LM>K MH OBLBM RHNK IKH?>LLHKL MH
@>MA>EI0>:KL:G=IE>:=BG@PBEEGHMA>EIRHN:MMA>>E>O>GMAAHNK
<5DH9F0CF8GC:0=G8CA-<9,HI89BHLD9F=9B79 
GHMA>K K>LHNK<> MH NMBEBS> <:G ;> ?HNG= BG MA> <:FINL E>:KGBG@ <>GM>K % ?K>JN>GM>= FR
<:FINLZ PKBMBG@ <>GM>K ?HK :LLBLM:G<> PBMA I:I>KL :G= K>L>:K<A IKHC><ML %GBMB:EER % P:L L<:K>= MH
;> <KBMBJN>= MABGDBG@ FR PHKD PHNE= ;> I>K<>BO>= :L BG:=>JN:M> 0A> `KLM MBF> % MHHD : I:I>K
MA>K> % K><:EE LM:G=BG@ HNMLB=> MA> =HHK ?HK :;HNM M>G FBGNM>L MABGDBG@ H? :G >Q<NL> GHM MH @H BG
0A:GD?NEER % L:P : <E:LLF:M> P:ED BG :G= % ?HEEHP>= LNBM 0A> >QI>KB>G<> P:L E>LL =K:F:MB< MA:G
% BF:@BG>= BM MH ;> GH HG> KBII>= FR I:I>K MH LAK>=L :G= MHE= F> MA:M % PHNE= G>O>K @K:=N:M>
%GLM>:= % L:M PBMA :G NII>K<E:LL LMN=>GM PAH <H:<A>= F> MAKHN@A LHF> IHBGM>KL :G= LN@@>LMBHGL
?HKBFIKHO>F>GM0A:GDLMHMA:M`KLMOBLBM%K><>BO>=:GHGMA>I:I>K
*6/BP*=C:2793B==
% MAHN@AM % DG>P >Q:<MER PA:M % P:GM>= MH =H PA>G % LM:KM>= <HEE>@> ;NM MA:M <A:G@>= MAK>>
MBF>L ;R MA> MBF> % @K:=N:M>= %GBMB:EER % LM:KM>= :L :G %GM>KG:MBHG:E NLBG>LL F:CHK ;NM >G=>= NI
K><>BOBG@ : =>@K>> BG HFFNGB<:MBHG :G= <HGMBGN>= HG MH @K:=N:M> L<AHHE )R @K>:M>LM :=OB<>
MH RHN BL MH >F;K:<> ?>>EBG@L H? NG<>KM:BGMR B? RHN A:O> MA>F PBMA K>@:K= MH RHNK :<:=>FB<
<:K>>K HK EB?> @H:EL /MHI BGMH MA> :K>>K />KOB<>L Hb<> HG RHNK <:FINL MH B=>GMB?R PA:M BM BL MA:M
RHN K>:EER P:GM MH =H PA>G RHN @K:=N:M> HK MH <HG`KF RHNK :bGBMR MH : <:K>>K I:MA ):D> :G
:IIHBGMF>GM MH L>> : <HNGL>EHK B? RHN G>>= MH O>GM HK @>M : G>P I>KLI><MBO> H :G BGM>KGLABI BG
RHNK`>E=MABL<:G@BO>RHN:`KLMA:G=BFIK>LLBHGH?PA:MRHNKEB?>FB@AMEHHDEBD>BGMA:MKHE>
3A>G % <AHL> %GM>KG:MBHG:E NLBG>LL % =B= GHM =H LH :L :G BG?HKF>= LMN=>GM % >GCHR>=
:G= >Q<>EE>= BG FR ;NLBG>LL <HNKL>L BG AB@A L<AHHE :G= % A:= AHI>L H? MK:O>EBG@ MA> PHKE=
LH %GM>KG:MBHG:E NLBG>LL L>>F>= MH `M MA> ;BEE (BMME> =B= % DGHP MA> F:CHK K>JNBK>= : EHM H?
:<<HNGMBG@ :G= ><HGHFB<L PAB<A :L BM MNKG>= HNM P>K> GHM FR ?HKM> 0ABGDBG@ MABL BL PA:M %
P:GM>=%P:LM>=MBF>INKLNBG@:F:CHK%=B=GZM>GCHR:G=:<:=>FB<<HNKL>L%LMKN@@E>=MAKHN@A
/H % MHHD : =B_>K>GM :IIKH:<A % ;>@:G LI>:DBG@ MH MA> IKH?>LLBHG:EL :KHNG= F> MA:M A:= CH;L
MA:M :II>:E>= MH F> /MN=>GM 1GBHGL<MBOBMB>L (>:=>KLABI +KB>GM:MBHG ENFGB >M< % ?HNG= HNM
% <HNE= A:O> : LBFBE:K <:K>>K :G= % PHNE= >GCHR MA> K>JNBK>= LMN=B>L :EHG@ MA> P:R ):DBG@ MA:M
=BL<HO>KR IKHOB=>= =BK><MBHG :G= INKIHL> BG FR F:CHK :G= >QMK:<NKKB<NE:K :<MBOBMB>L % ?>EM EBD>
>O>KRMABG@P:L?:EEBG@BGMHIE:<>
*6/BP1BC/::G=
% PHNE= EBD> MH I:NL> ?HK : FHF>GM :G= :LD RHN MH <HGLB=>K PAR RHN :K> BG <HEE>@> 3AR =B=
RHN <AHHL> RHNK BGLMBMNMBHG $:O> RHN =><E:K>= : F:CHK R>M 3AR HK PAR GHM 3A:M :K> RHNK
IE:GL IHLM@K:=N:MBHG R ?K>JN>GMER K>a><MBG@ BG MABL P:R RHN <:G :LL>LL PA>MA>K HK GHM RHNK
;>A:OBHKL:bEB:MBHGL:G=:<MBOBMB>L:EB@GPBMARHNK@H:EL
3A:M RHN :<MN:EER =H PBMA RHNK LMN=>GM >QI>KB>G<> BL <HFIE>M>ER NI MH RHN 5HN :K> MA> HGER
I>KLHG PAH <:G =B<M:M> RHNK <HEE>@B:M> ?:M> .>FBG= RHNKL>E? H? MA> K>:LHGL PAR RHN :K> BG <HEE>@>
:G= F:D> LNK> RHNK MBF> BL LI>GM HG :<AB>OBG@ RHNK @H:EL 0A>K> :K> K>LHNK<>L :G= I>HIE> HG RHNK
<:FINL:O:BE:;E>MHA>EIRHN5HNA:O>MA><HGMKHEXNL>BMPBL>ER
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH,<5F98DF9J=CIG@M
CIB85H=CBG C: 7589A=7 ,I779GG 0CF8G C: 0=G8CA 8=H98 6M -<CA5G )F=9GH9F GG5M 5IH<CF98
6M $F=GH9B &FI? %C75H98 5H <HHDGA=@B9DI6@=G<=B;;9B9G9C98I:CIB85H=CBGC:57589A=7GI779GG
7<5DH9FH<9GHI89BH9LD9F=9B79 %=79BG92HHF=6IH=CB
<5DH9F0CF8GC:0=G8CA-<9,HI89BHLD9F=9B79 
<5DH9F0CF8GC:0=G8CA)F57H=79
)F57H=79)F57H=79
Dr. Kristine Duffy
(B?> BG <HEE>@> PBEE ;> EBD> GH HMA>K MBF> BG RHNK EB?>X% <:G @N:K:GM>> RHN MA:M 0ABL BL RHNK
MBF> MH >QIEHK> PAH RHN :K> PAH RHN P:GM MH ;><HF> :G= AHP RHN PBLA MH IE:R : I:KM BG MABL
PHKE= HGZM LJN:G=>K MABL NGBJN> MBF> BG RHNK EB?> % AHI> MH LA:K> LHF> MAHN@AML MA:M FB@AM A>EI
RHN:OHB=K>@K>MLPA>GK>a><MBG@HGRHNK<HEE>@>R>:KL
% P:GM MH ;> <E>:KXMA>K> :K> F:GR I:MAL MAKHN@A <HEE>@> :G= P> DGHP MA:M GH HG> I:MA BL KB@AM
?HK :EE 5HN F:R ;> LM:KMBG@ :M : <HFFNGBMR <HEE>@> M:DBG@ <HNKL>L I:KMMBF> LM:KMBG@ <HEE>@>
:@:BG :?M>K :G NGLN<<>LL?NE LM:KM HK K>MNKGBG@ MH >=N<:MBHG :?M>K F:GR R>:KL :P:R ;NM GH F:MM>K
PAHRHN:K>HKPA:MI:MARHNZO><AHL>GF:D>MA>FHLMH?BM
% MHHD MA> ?:BKER MK:=BMBHG:E I:MA % @K:=N:M>= ?KHF AB@A L<AHHE :G= P>GM =BK><MER MH <HEE>@>
PAB<A P:L MAK>> AHNKL :P:R ?KHF AHF> ><:NL> % P:LGZM K>:EER LNK> PA:M >EL> % LAHNE= =H %
<AHL> MH ;> : ;NLBG>LL F:CHK ;R =>?:NEM )R I:K>GML MAHN@AM BM P:L : @HH= KHNM> MH M:D> :G= PHNE=
E>:=F>MH: )11&,1$ F:BGERMH>GLNK>%F:=>LHF>FHG>R:G==B=GZMEBO>PBMAMA>F?HK>O>K
0A>K>:K>MAK>>MABG@L%E>:KG>=JNB<DERBG<HEE>@>
 %A:=EBO>=:O>KRGB<>EB?>;NMBG:O>KRAHFH@>G>HNL>GOBKHGF>GM
 0A>K>P>K>I>HIE>=B_>K>GM?KHFF>
 EMAHN@A%P:L:=><>GMLMN=>GM%A:=:P:RLMH@HMH;>:@HH=LMN=>GM
(>:KGBG@ MH :IIK><B:M> PA:M RHN A:O> BL CNLM :L BFIHKM:GM :L >:KGBG@ L HG >Q:FL :G= I:I>KL %
LA:K>MABL;><:NL>I:KMH?<HEE>@>BLIK>I:KBG@?HKEB?>GHMCNLM:CH;LDRHNKL>E?LHF>JN>LMBHGL
] 3A:MZLBFIHKM:GMMHF>:G=PAR
] 3A:M=H%DGHP:;HNMHMA>KI>HIE>ZLEBO>L;>EB>?L:G=I:LLBHGL
] F%<HG`=>GMBGFR:;BEBMB>LMHLMN=REBLM>G:G=E>:KGM:D>GHM>L:G=;>:E>:KG>K
*6/BJAP;>=@B/<BB= 3/<2*6G
%L BM HGER MH F:D> FHG>R MH ;NR MABG@L %? LH =H RHN MKNER ;>EB>O> MA:M FHG>R F:D>L >O>KRMABG@
;>MM>K HGZM ;> ?HHE>= ;R MA:M 5>L FHG>R <>KM:BGER F:D>L EB?> FHK> <HF?HKM:;E> ;NM BM
:;LHENM>ER =H>LGZM ;NR A:IIBG>LL % A:= ?KB>G=L BG <HEE>@> MA:M <:F> ?KHF : LB@GB`<:GM :FHNGM H?
FHG>R :G= MA>R PHNE= A:O> MK:=>= BM :EE MH A:O> : ?:FBER MA>R <:G =>I>G= NIHG :G= EHO> BG MA>BK
AHF>LHGLB=>KMABLO>KR<:K>?NEER:LRHN=K>:FH?MA>EB?>:A>:=H?RHN
*6/B=,=C<=E/0=CB"B63@#3=>:3JA7D3A3:734A/<2#/AA7=<A
5HN :K> GHM MA> <>GM>K H? MA> PHKE= 5HN LAHNE= ;> <HG`=>GM :G= IKHN= H? PAH RHN :K> ;NM ;>
ANF;E> :G= ;> HI>G MH HMA>KLZ >QI>KB>G<>L :G= PHKE=OB>PL 0:D> <E:LL>L MA:M LMK>M<A RHN F:R;>
>O>G F:D> RHN NG<HF?HKM:;E> %G MA> >G= MA>L> MRI>L H? <E:LL>L PBEE M>LM RHNK :LLNFIMBHGL ;>EB>?L
:G= F:D> RHN : FHK> P>EEKHNG=>= :G= BGM>K>LMBG@ I>KLHG 0A> KHHFF:M> HK <E:LLF:M> MA:M BL
=B_>K>GM?KHFRHN<:GM>:<ARHN:;HNMRHNKL>E?>HI>GMHMABL
@3,=C=<M23<B7<,=C@07:7B73AB=&BC2G7AB3</<23/@<'/93!=B3A
/<23/3/@<3@
.>F>F;>K B? <HEE>@> P>K> >:LR >O>KRHG> PHNE= =H BM 5HN A:O> ?NEE <HGMKHE :G= K>LIHGLB;BEBMR
?HK RHNK E>:KGBG@ 5>L RHNK IKH?>LLHKL A:O> MA> K>LIHGLB;BEBMR H? M>:<ABG@ P>EE :G= A>EIBG@ RHN
E>:KG NM MA>R <:GGHM :G= LAHNE= GHM =H MA> PHKD ?HK RHN ,:KM H? <HEE>@> BL E>:KGBG@ MH E>:KG
E>:KGBG@ MH LMN=R EBLM>G ;>MM>K M:D> GHM>L :G= FHLM BFIHKM:GMER :LDBG@ ?HK A>EI PA>G RHN G>>=
BM
%G FR HPG K>L>:K<A % A:O> E>:KG>= MA:M LMN=>GML :K> <HG?KHGM>= PBMA : I:K:=HQB<:E LBMN:MBHG +G
MA> HG> A:G= LMN=>GML BG AB@A L<AHHE :K> P:KG>= MA:M <HEE>@> PBEE ;> A:K=XMA> IKH?>LLHKL PHGZM
<:K> B? RHN =H MA> PHKD HK GHM :G= RHN G>>= MH =H BM HG RHNK HPG $HP>O>K BG K>:EBMR <HEE>@>
IKH?>LLHKL :G= LNIIHKM IKH?>LLBHG:EL =H <:K> :G= PBEE M>EE RHN MH <HF> :G= L>> MA>F B? RHN G>>=
A>EI
/H PA:M BL : LMN=>GM MH =H 5HN F:R ?>>E ;:= BG <E:LL B? RHN CNLM :K>GZM @>MMBG@ BM :G= :K>
>F;:KK:LL>= MH :LD ?HK A>EI /MHI MA:M MAHN@AM BG BML MK:<DL HEE>@>L H_>K F:GR HIIHKMNGBMB>L ?HK
A>EI :G= BG :EFHLM :EE <:L>L ?HK ?K>> ,KH?>LLHKL H_>K Hb<> AHNKL LI><B`<:EER MH :==K>LL LMN=>GMLZ
JN>LMBHGL :G= MNMHKBG@ BL :O:BE:;E> MH A>EI RHN =H ;>MM>K GHM MH INGBLA RHN ?HK GHM @>MMBG@ BM
.>F>F;>K RHN :K> I:RBG@ : LN;LM:GMB:E :FHNGM H? FHG>R ?HK RHNK MNBMBHG `G= HNM PA:M K>LHNK<>L
RHN A:O> :G= M:D> :=O:GM:@> H? MA>F > : F:MNK> E>:KG>K M:D> :=O:GM:@> H? >O>KRMABG@ RHNK
<HEE>@> H_>KL :G= AHE= RHNK A>:= AB@A ?HK =HBG@ LH 0A>K> BL GH LA:F> BG :LDBG@ ?HK A>EI % :EP:RL
<HFI:K> BM MH : CH; 3A>G RHN LM:KM HNM HG :GR CH; MA>K> BL NLN:EER LHF> MRI> H? MK:BGBG@ MH M>:<A
RHN AHP MH =H MA:M CH; HEE>@> BL GH =B_>K>GM 3> :K> M>:<ABG@ RHN AHP MH ;> : LMN=>GMXRHNZO>
;>>GIK:<MB<BG@LBG<>'BG=>K@:KM>G:G==H>LGZM>G=PA>GRHN@>MMH<HEE>@>
"BG:EER A>K> :K> LHF> PHK=L H? :=OB<> ;:L>= HG LHF> H? FR K>@K>ML PA>G % K>a><M HG FR <HEE>@>
>QI>KB>G<>
<5DH9F0CF8GC:0=G8CA)F57H=79)F57H=79)F57H=79 
 %=B=GZMLMN=R:;KH:==NKBG@FR?HNKR>:KLH?<HEE>@>
 %=B=GZM=H:GRMRI>H?BGM>KGLABI
 %=B=GZM@>MBGOHEO>=PBMAF:GR<EN;LHKHK@:GBS:MBHGL
 %=B=GZM@>MBGOHEO>=PBMA:GRMRI>H?K>L>:K<AHIIHKMNGBMB>LNGMBE@K:=N:M>L<AHHE
&BC2G0@=/2
3A>MA>K BM BL : LAHKMM>KF >QI>KB>G<> LHF> :K> :L LAHKM :L MAK>> P>>DL HK : L>F>LM>K MH : R>:KX=H
BM 0ABL @H>L ;:<D MH FR IHBGM :;HNM NG=>KLM:G=BG@ I>HIE> =B_>K>GM MA:G RHN 0A> 1GBM>= /M:M>L
BL : @K>:M G:MBHG ;NM P> :K> GHM MA> HGER G:MBHG :G= HNK PHKE= BL `EE>= PBMA :F:SBG@ LMHKB>L MH
LA:K> +G> H? FR ?:OHKBM> JNHM>L ;R *>:E> 3:EL<A BL [(B?> ;>@BGL :M MA> >G= H? RHNK <HF?HKM
SHG>\
<
5HN PBEE GHM FBLL FN<A ;>BG@ @HG> ?KHF RHNK <HEE>@> ?HK : LAHKM I>KBH= H? MBF> :G= RHN
PBEE K>MNKG ?KHF RHNK :=O>GMNK> : <A:G@>= I>KLHG $HP =H % DGHP MABL B? % =B=GZM LMN=R :;KH:=
FRL>E? % DGHP F:GR PAH A:O> :G= MA> >G= K>LNEM BL MA> L:F> ?HK :EEXGH K>@K>ML EB?> <A:G@BG@
FHF>GML:G=;>MM>K:IIK><B:MBHG?HKMA>PHKE=P>EBO>BG
P<B3@<A67>A
#HBG@ MH <HEE>@> BG MA> ZL P:L =B_>K>GM MA:G MH=:R 0A> CH; F:KD>M P:L K>E:MBO>ER LMKHG@
:G= MA> INLA ?HK :G BGM>KGLABI HK <HHI P:L GHM :L LMKHG@ NM B? % A:= @HMM>G LHF> A:G=L HG
>QI>KB>G<> :G= =BL<HO>K>= FR EBD>L =BLEBD>L LMK>G@MAL :G= P>:DG>LL>L % PHNE= A:O> A:= FHK>
=BK><MBHG ?HK FR <:K>>K PA>G % @K:=N:M>= %G :==BMBHG MA>K> BL GHMABG@ FHK> ?KNLMK:MBG@ ?HK :
<HEE>@> @K:=N:M> MA:G MH @H HG CH; BGM>KOB>PL HGER MH ;> MHE= MA:M RHN <:GZM ;> ABK>= ;><:NL> RHN
A:O> GH 4'#. >QI>KB>G<> /H M:ED MH RHNK IKH?>LLHKL :<:=>FB< :=OBLHKL <HNGL>EHKL :G= F>GMHKL
:;HNM @>MMBG@ LHF> BGM>KGLABI >QI>KB>G<> PABE> BG L<AHHE HK =NKBG@ MA> LNFF>K 0A>K> :K> F:GR
<HFI:GB>LMA:MP>E<HF>BGM>KGL:G=RHNF:R`G=MA>=BK><MBHGRHN:K>L>>DBG@
:C0A/<2"@5/<7H/B7=<A
"HK R>:KL >FIEHR>KL A:O> ;>>G LNKO>R>= ;R <HEE>@>L MH :LD MA>F PA:M MRI> H? LDBEEL MA>R :K>
L>>DBG@ BG <HEE>@> @K:=N:M>L EMAHN@A A:OBG@ =BL<BIEBG> LI><B`< LDBEEL BL BFIHKM:GM BG HMA>K
PHK=L MA> <HNKL>L RHN M:D> BG RHNK F:CHK >FIEHR>KL :K> O>KR <HGLBLM>GM BG L>>DBG@ HNM
>FIEHR>>L PBMA PA:M MA>R <:EE [LH?M LDBEEL\ LN<A :L PKBMBG@ P>EE IN;EB< LI>:DBG@ @>MMBG@ :EHG@
PBMA HMA>KL :G= A:OBG@ E>:=>KLABI :;BEBMB>L 5HNZEE =>O>EHI MA>L> LDBEEL BG RHNK <HNKL>L ;NM RHN <:G
K>:EER AHG> :G= :IIER MA>F ;R CHBGBG@ : <EN; HK HK@:GBS:MBHG HG <:FINL PA>K> RHN PBEE A:O>
HIIHKMNGBMB>L MH PHKD PBMA HMA>KL E>:= >_HKML :G= A:O> LHF>MABG@ MH LAHP ?HK BMX: <:FI:B@G
RHN K:G ?NG=L RHN K:BL>= HK :G >O>GM RHN HK@:GBS>= HEE>@>L H_>K F:GR MRI>L H? <EN;L MH :MMK:<M
LMN=>GML BG :K>:L H? BGM>K>LM "HK >Q:FIE> B? RHN :K> : ;NLBG>LL F:CHK RHN <HNE= CHBG MA> ;NLBG>LL
<EN; )HK> MA:G EBD>ER MA> :<MBOBMB>L MA> <EN; H_>KL PBEE :EEHP RHN MH F>>M ;NLBG>LL E>:=>KL @H HG
<3 /6)3&3J=;<;K3)&/7S'S4".7!3$S6("4
R+3
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
`>E= MKBIL MH E>:KG FHK> :;HNM MA> ;NLBG>LL PHKE= :G= F>>M I>HIE> PAH A:O> LBFBE:K BGM>K>LML :L
RHNKL>E? % P:L : <HEE>@> :MAE>M> LH FR MBF> P:L EBFBM>= :G= PABE> % LNIIHKM :MAE>MB<L BG <HEE>@> :L
:G HIIHKMNGBMR MH <HGMBGN> RHNK I:LLBHG :G= MH @KHP :G= E>:KG MKR MH F:D> MBF> MH CHBG : LI><B:E
BGM>K>LM @KHNI 0:D> : E>:=>KLABI KHE> BG : @KHNI :G= E:M>K PA>G RHN @H HG MA:M CH; BGM>KOB>P M:ED
:;HNM RHNK E>:=>KLABI >QI>KB>G<> 0A> >FIEHR>K PBEE ;> BFIK>LL>= :G= BM F:R =>M>KFBG> PA>MA>K
HKGHMRHN@>MMA>CH;
%3A3/@16
"BG:EER =>O>EHI RHNK K>L>:K<A LDBEEL 5HN F:R MABGD MA:M K>L>:K<A BL FHLM BFIHKM:GM BG MA> L<B>G<>L
:G= F>=B<BG> NM K>L>:K<A H<<NKL BG :EE `>E=L H? LMN=R :G= FN<A H? PA:M RHN =H BG <HEE>@> BL
K>L>:K<A BG LHF> ?HKF %? RHN :K> : FNLB< F:CHK RHN F:R G>>= MH K>L>:K<A AHP HMA>K FNLB<B:GL
=>O>EHI>= MA>BK M:E>GM MA> ABLMHKR H? @>GK>L HK G>P P:RL FNLB< BL :IIEB>= BG HNK PHKE= ,KH;E>F
LHEOBG@ MAKHN@A >_><MBO> K>L>:K<A :G= DGHPBG@ AHP MH M>LM RHNK B=>:L :G= ARIHMA>L>L PBEE F:D>
RHN : O>KR O:EN:;E> >FIEHR>> :G= <BMBS>G H? RHNK <HFFNGBMR %? RHNK IKH?>LLHK H_>KL : <A:G<> MH
PHKDHG:LI><B:EK>L>:K<AIKHC><MXLB@GNI
-N>LMBHG >O>KRMABG@ :G= =HGZM M:D> MA> :GLP>KL :M ?:<> O:EN> -N>LMBHG AHP I>HIE> <HF> MH
MA>BK <HG<ENLBHGL =>O>EHI RHNK HPG L>M H? K>L>:K<A JN>LMBHGL :G= ;> PBEEBG@ MH =B@ MH `G= MA>
:GLP>KL 0ABL BL GHM HGER BFIHKM:GM :L : LMN=>GM ;NM :ELH :L :G >FIEHR>> /MKBO> MH ;> :G >G@:@>=
<BMBS>G BG HNK PHKE= :G= =HGZM ;>EB>O> PA:M >O>KRHG> M>EEL RHN G :=NEM G>>=L MH F:D> BG?HKF>=
=><BLBHGL MH ;NR IKH=N<ML I:R M:Q>L :G= OHM> ?HK @HO>KGF>GM E>:=>KL HGZM ;> <HFIE:<>GM :G=
INM RHNK EB?> BG MA> A:G=L H? HMA>KL PBMAHNM ?NEER K>L>:K<ABG@ MA> IKHL :G= <HGLX=K:P RHNK HPG
<HG<ENLBHGL
%G <HG<ENLBHG <HF> MH MA> <E:LLKHHF PBMA :G HI>G FBG= :G= : PBEEBG@G>LL MH >Q>K<BL> RHNK
KB@AM MH M:D> ?NEE :=O:GM:@> H? :EE : <HEE>@> H_>KL HG> <HKK><MER <HEE>@> PBEE ;> <A:EE>G@BG@ :G=
?KNLMK:MBG@ :G= PBEE M>LM >O>KR I:KM H? RHN (B?> PBEE ;> MA> L:F> P:R LH NL> MABL MBF> MH IK:<MB<>
IK:<MB<>IK:<MB<>
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH,<5F98DF9J=CIG@M
CIB85H=CBG C: 7589A=7 ,I779GG 0CF8G C: 0=G8CA 8=H98 6M -<CA5G )F=9GH9F GG5M 5IH<CF98
6M F $F=GH=B9 I[M %C75H98 5H <HHDGA=@B9DI6@=G<=B;;9B9G9C98I:CIB85H=CBGC:57589A=7
GI779GG7<5DH9FDF57H=79DF57H=79DF57H=79 %=79BG92HHF=6IH=CB
85DH=CBG+9:CFA5HH98F9:9F9B79:CF7CBG=GH9B7MK=H<:CCHBCH9G
<5DH9F0CF8GC:0=G8CA)F57H=79)F57H=79)F57H=79 
<5DH9F,D95?=B;-<9%5B;I5;9C:C@@9;9
=!.'4!'%)23(%$1%22/&3(/4'(3>
P,5AI9@#C<BGCB
#>MMBG@ LM:KM>= BG <HEE>@> <:G L>>F EBD> :G NIABEE ;:MME> +G> H? MA> `KLM <A:EE>G@>L : LMN=>GM <:G
>G<HNGM>K BL G:OB@:MBG@ MA> <HEE>@>ZL P>;LBM> %G MA> :MM>FIM MH @>M :L FN<A BG?HKF:MBHG :L IHLLB;E>
BGMH MA> A:G=L H? <NKK>GM :G= ?NMNK> LMN=>GML <HEE>@> P>;LBM>L :K> <K:FF>= ?NEE H? BG?HKF:MBHG
:G= E:G@N:@> MA:M F:R ;> G>P MH MA> `KLMMBF> <HEE>@> LMN=>GM 0KRBG@ MH `@NK> HNM AHP MH @>M
LM:KM>= <:G ;> <HG?NLBG@ >O>G PA>G MA> P>;LBM> L:RL [/M>IL 0H !GKHEE\ .>@BLMK:MBHG :=FBLLBHG
>GKHEEF>GM^ :K> MA>R :EE MA> L:F> MABG@ %? RHN :K> K>@BLM>K>= :K> RHN :=FBMM>= :G= >GKHEE>= %L
>GKHEEF>GM BG MA> <HEE>@> MA> L:F> MABG@ :L >GKHEEF>GM BG <E:LL>L G= MA:MZL CNLM MA> ;>@BGGBG@ H?
MA>IHM>GMB:E?HK<HG?NLBHG$HP<:G:LMN=>GMDGHPMA>:GLP>KLMHMA>L>JN>LMBHGL
(>:KGBG@ MH LI>:D MA> [E:G@N:@> H? <HEE>@>\ <:G L>>F >O>G A:K=>K MA:G E>:KGBG@ : ?HK>B@G
E:G@N:@> ;><:NL> :L : G>P LMN=>GM RHN A:O> GH B=>: PA:M PHK=L RHN G>>= MH E>:KG %? RHN MK:O>E
MH : ?HK>B@G <HNGMKR MA>K> :K> <HK> OH<:;NE:KR PHK=L RHN PBEE `G= FHLM A>EI?NE W K>LHNK<>L MA:M
PBEE :EEHP RHN MH HK=>K MA> ?HH= RHN EBD> :G= L>KOB<>L RHN G>>= :LB< G>>=L EBD> ;K>:= :G= P:M>K
<:G ;> <HKK>E:M>= :FHG@ =B_>K>GM E:G@N:@>L =H@ BL : =H@ :EE HO>K MA> PHKE= :G= GHM <HG?NL>=
PBMA:<:M0A>OH<:;NE:KRH?<HEE>@>BLGHMLHLMK:B@AM?HKP:K=
+G> H? MA> `KLM =><BLBHGL : LMN=>GM F:R G>>= MH F:D> BL PA>MA>K MH :MM>G= <HEE>@> :L : <K>=BM HK
GHG<K>=BM L>>DBG@ LMN=>GM !O>G FHK> <HG?NLBG@ GHG<K>=BM LMN=>GML <:G :ELH ;> K>?>KK>= MH :L
[<HGMBGNBG@ >=N<:MBHG\ LMN=>GML "HK >Q:FIE> : LMN=>GM P:GML MH M:D> : =K:PBG@ <E:LL +G> H? MA>
`KLM JN>LMBHGL MA:M F:R ;> :LD>= BL PA>MA>K MA> LMN=>GM P:GML MH M:D> MA> <E:LL ?HK <K>=BM HK GHG
<K>=BM HMA MRI>L H? LMN=>GML <:G M:D> =K:PBG@ <E:LL>L %? : LMN=>GM =H>LGZM DGHP PA:M : <K>=BM BL
HK PA:M HG> BL PHKMA BMZL A:K= MH :GLP>K MA> ;:LB< JN>LMBHG BG HK=>K MH K>@BLM>K ?HK MA> =K:PBG@
<E:LL :G= MA> K>@BLMK:MBHG IKH<>LL BL O>KR =B_>K>GM =>I>G=BG@ HG MA> :GLP>K MH MA> JN>LMBHG H?
<K>=BMHKGHG<K>=BM$HP<:G:LMN=>GMDGHPB?A>LA>P:GMLMH;>:[<K>=BMLMN=>GM\HKGHM
(>:KGBG@ MH LI>:D MA> E:G@N:@> H? MA> <HEE>@> BL I:KM H? E>:KGBG@ MA> L<AHHEZL <NEMNK> %M BL
BFIHKM:GMMHK>F>F;>KMA:MGHM:EE<HEE>@>LNL>MA>L:F>PHK=LBGMA>L:F>P:R
=;;=<:G(A321/23;71)=1/0C:/@G
>EHP BL : EBLM H? <HFFHGER NL>= M>KFBGHEH@R 3BMAHNM NLBG@ MA> %GM>KG>M HK <HEE>@> <:M:EH@ L>>
AHP F:GR PHK=L RHN DGHP MA> F>:GBG@ H? 3KBM> MA> F>:GBG@ BG MA> LI:<> :=C:<>GM MH MA> M>KF
7589A=7295F
+9;=GHF5H=CB
BFC@@A9BH
8A=GG=CB
,HI89BH'IA69F
)FC65H=CB
F98=H"CIF.B=H
-9FA
-I=H=CB
!9B9F5@8I75H=CB!9B8
@97H=J9
9;F99
9FH=X75H9
5F99FD5H<K5M
<5DH9F,D95?=B;-<9%5B;I5;9C:C@@9;9 
=B5B7=5@=8
 ,
,H5[CF8%C5B
,7<C@5FG<=D
!F5BH
989F5@0CF?,HI8M
-F5BG7F=DH
'CBF98=HCBH=BI=B;8I75H=CB
I8=H
!F589(DH=CBG
CIFG9'IA69F
C@@9;9%9J9@CIFG9
)F9C@@9;9%9J9@CIFG9
%CK9F=J=G=CBCIFG9
.DD9F=J=G=CBCIFG9
)F9F9EI=G=H9
CF9EI=G=H9
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
%95FB=B;CAAIB=HM
&5>CF
L : <HEE>@> LMN=>GM RHN PBEE G>>= MH <HF> NI PBMA : LMK:M>@R ?HK E>:KGBG@ EHML H? BG?HKF:MBHG
EBD> MA> LI><B`< E:G@N:@> H? RHNK L<AHHE 0BF ">KKBL A:L : 0! 0:ED :;HNM F:LM>KBG@ LDBEEL ;R
=><HGLMKN<MBG@ MA>F. 3A>G RHN =><HGLMKN<M LHF>MABG@ BM F>:GL MH M:D> LHF>MABG@ E:K@> :G=
;K>:D BM =HPG BGMH LF:EE>K I:KML %M :ELH F>:GL MH B=>GMB?R PAR RHN FB@AM ?:BE ;>?HK> RHN LM:KM :G=
F:D>:IE:GMHLMHI?:BENK>;>?HK>BMA:II>GL
)723= Smash Fear, Learn AnythingSmash Fear, Learn Anything'7;3@@7AA/B'
 - 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
/A32=<B63723/A=4A7;>:74G7<5/<2231=<AB@C1B7<5/B/A97<=@23@B=:3/@<
7BB67<9=46=EB6=A3723/A1=C:203/>>:732B=;/AB3@7<5B63:/<5C/53=4
1=::353
] :GRHNL>>:GRP:RLMHLBFIEB?RMA>M:LDH?E>:KGBG@PHK=L
] K>MA>K>:GR<HGG><MBHGL;>MP>>GMA>PHK=LMA:MRHN<:GL>>
] 3BEERHNG>>=:EEMA>PHK=L:EEMA>MBF>
] 3BEERHNG>>=LHF>PHK=LFHK>?K>JN>GMERMA:GHMA>KL
<5DH9F,D95?=B;-<9%5B;I5;9C:C@@9;9 
] 3A>G:G=PA>K>FB@AMRHNG>>=>:<AH?MA>PHKDL
] :GRHNMABGDH?:GRPHK=LGHMBG<EN=>=BGMABLEBLMMA:MPHNE=;>A>EI?NEMHDGHPBG
K>E:MBHGLABIMHRHNK<HEE>@>OH<:;NE:KR
713<A3/<2BB@70CB7=<A
@=79BG987CBH9BH)F9J=CIG@MG<5F98
=[9F9BH +C58 -C C@@9;9 !I=89 CF -F5BG=H=CB=B; -C C@@9;9 CF 'CBHF58=H=CB5@ ,HI89BHG
IH<CF98 6M @=G9 %5ACF95IL %C75H98 5H <HHDGCD9BCF9;CBDF9GG6CC?GDI67C@@9;9HF5BG=H=CB
7<5DH9F7<5DH9F %=79BG92HHF=6IH=CB
85DH=CBG+9:CFA5HH98GCA97CBH9BHF9ACJ98HCXH56FC589F5I8=9B79
-=A9 9FF=GG,A5G< 95F%95FBBMH<=B;IH<CF986M-7CA
%C75H985H <HHDGKKKH987CAH5@?GH=A4:9FF=GG4GA5G<4:95F4@95FB45BMH<=B;H
%=79BG92P'P'\BH9FB5H=CB5@
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
<5DH9F0CF8GC:0=G8CA0<M,C&5BM
*I9GH=CBG
Fatima Rodriguez Johnson
% <AHL> MH :MM>G= : LF:EE EB;>K:E :KML <HEE>@> 0A> <:FINL P:L IK>=HFBG:M>ER PABM> :G= P:L
G>LME>= BG : P>:EMAR LN;NK; :FHG@ ;>:NMB?NE MK>>L :G= E:G=L<:I>= E:PGL )R LM>I?:MA>K :G= % INEE>=
BGMH MA> I:KDBG@ EHM :G= ?HEEHP>= MA> I:MA MH FR K>LB=>G<> A:EE 0A> EHHDL P> K><>BO>= ?KHF FHLM
H? MA> ?:FBEB>L F:=> F> ?>>E EBD> >O>KRHG> DG>P P> =B=GZM ;>EHG@ NM A> :G= % @K>>M>= :EE P>
>G<HNGM>K>= LFBEBG@ :G= L:RBG@ [$>EEH\ +G<> % P:L NGI:<D>= :G= L>MME>= BGMH FR K>LB=>G<> A:EE
A> @:O> F> : AN@ :G= L:B= [#HH= EN<D\ % P:LGZM LNK> B? A> F>:GM @HH= EN<D PBMA <E:LL>L HK @HH=
EN<D PBMA F>>MBG@ G>P ?KB>G=L ;NM % A>:K= : P>B@AM BG ABL OHB<> $> P:L PHKKB>= $:= A> :G= FR
FHMA>KIK>I:K>=F>?HKPA:MP:L:A>:=
3BMA >Q<BM>F>GM % @K>>M>= FR KHHFF:M> PAH % A:= :EK>:=R F>M MAKHN@A MA> LNFF>K $B@A>K
!=N<:MBHG:E +IIHKMNGBMR ,KH@K:F $!+, /A> :G= % P>K> O>KR A:IIR MH L>> >:<A HMA>K ?M>K
=><HK:MBG@ :G= HK@:GBSBG@ HNK KHHF P> L>M HNM MH F>>M G>P I>HIE> 3> P>GM MH >O>KR KHHF
BGMKH=N<BG@ HNKL>EO>L 3> P>K> IK>MMR LNK> GH HG> PHNE= ?HK@>M NL BM PHNE= ;> A:K= MH FBLL MA>
HGER E:<D :G= (:MBG: @BKEL PAHL> KHHF P:L G>QM MH MA> I:R IAHG> R>L BG FR =:R >:<A aHHK
LA:K>=HG>I:RIAHG>
!O>KRHG> HG HNK aHHK P:L GB<> :G= P> H?M>G ANG@ HNM BG >:<A HMA>KZL KHHFL G= EBD> LHF> H?
RHNP>:GLP>K>=LHF>H?MAHL>:GGHRBG@JN>LMBHGL
] 3AR=H>LRHNKI>KFF:D>RHNKA:BKLMK:B@AMPA>GHNKLF:D>LHNKA:BK<NKER
] $HP=B=RHNKA:BK@KHPLHEHG@PA>G>O>KP>A:=P>:O>;K:B=L
] 3AR=HGZMRHNP:LARHNKA:BK>O>KR=:RMA>FHLMBGMKB@NBG@JN>LMBHGH?:EE
3>P>K>:ELH:LD>=JN>LMBHGLMA:MF:=>NL:G@KR
] B=RHN@KHPNIPBMARHNK?:MA>K
] K>GZMRHNL<:K>=MHM:D>IN;EB<MK:GLIHKM:MBHG
] $:O>RHN>O>KL>>G:GRHG>@>MLAHM;><:NL>P>;HMAEBO>=BGMA>BGG>K<BMR
%M P:L MAHL> JN>LMBHGL MA:M =>I>G=BG@ HG MA> =:R :G= PA:M DBG= H? FHH= P> P>K> BG F:=> :
?>EEHP LMN=>GM >BMA>K P:ED :P:R PBMA : ;>MM>K NG=>KLM:G=BG@ H? PAH P> P>K> :L E:<D :G= (:MBG:
PHF>G HK F:=> : ?>EEHP LMN=>GM P:ED :P:R K>= :G= <HG?NL>= % @N>LL MA:MZL PAR FR LM>I?:MA>K
L:B= [#HH= EN<D\ $> DG>P MA:M % P:L EBOBG@ BG : <HFFNGBMR PA>K> % PHNE= LM:G= HNMXPA>K> %
PHNE= A:O> MH >QIE:BG PAH % P:L /HF> =:RL % P:L K>:EER @HH= :M :GLP>KBG@ MAHL> JN>LMBHGL :G=
LHF> =:RL % P:L GHM % E>:KG>= MA> JN>LMBHGL P>K> GHM MA> IKH;E>F BM P:L GHM :LDBG@ MA:M P:L
MKHN;EBG@
)R KHHFF:M> :G= % INM ?HKMA : EHM H? >_HKM MH `M BG PBMA MA> <HFFNGBMRXP> LI>GM MBF>
A:G@BG@ HNM PBMA HNK I>>KL P> :M> MH@>MA>K :EFHLM >O>KR >O>GBG@ BG MA> =BGBG@ A:EE :G= P>
I:KMB<BI:M>= BG LMN=>GM HK@:GBS:MBHGL 3> P>K> BGOBM>= MH CHBG MA> #>KF:G EN; :G= P>K> MA>
HGER LMN=>GML H? <HEHK MA>K> %G =HBG@ :EE MA>L> MABG@L P> F:=> HNKL>EO>L :IIKH:<A:;E> +NK I>>KL
;><:F><HF?HKM:;E>:KHNG=NL:G=MKNLM>=NL
EMAHN@A FR I>>KL :G= % :EE A:= LBFBE:K <HEE>@> LMK>LL>L M>LML I:I>KL IKHC><ML >M< FR
KHHFF:M> :G= % :ELH A:= ;><HF> : LMN=>GM K>LHNK<> ?HK =BO>KLBMR *HM ;><:NL> P> P:GM>= MH
;NM ;><:NL> P> A:= MHH 0A>K> P>K> O>KR ?>P LMN=>GML H? <HEHK HG <:FINL :G= % MABGD LMN=>GML
K>:EER P:GM>= MH E>:KG :;HNM I>HIE> =B_>K>GM ?KHF MA>FL>EO>L %M P:L : K>LIHGLB;BEBMR MA:M P> A:=
:<<>IM>= 0A> =BK><MHK H? $!+, PHNE= H?M>G K>FBG= NL MA:M ?HK F:GR LMN=>GML <HEE>@> P:L MA>
`KLM HIIHKMNGBMR MA>R A:= MH :LD MA>L> MRI>L H? JN>LMBHGL $> L:B= P> PHNE= E>:KG MH =BL<>KG PA>G
I>HIE> P>K> K>:EER BGM>K>LM>= BG E>:KGBG@ :;HNM HNK =B_>K>G<>L HK BGLNEMBG@ NL %? LHF>HG> P:L
BGM>K>LM>=BGBGLNEMBG@NLMA>K>P:LGHG>>=MHK>LIHG=:M:EE
EMAHN@A % MK:GL?>KK>= MH :GHMA>K <HEE>@> :M MA> >G= H? FR LHIAHFHK> R>:K =NKBG@ MAHL> MPH
R>:KL % E>:KG>= : @K>:M =>:E :;HNM A:OBG@ AHG>LM <HGO>KL:MBHGL 0:DBG@ I:KM BG AHG>LM <HGO>KL:MBHGL
<A:EE>G@>= FR GHMBHGL H? MA> PHKE= :G= AHP % OB>P>= I>HIE> ?KHF :EE P:EDL H? EB?> K:<> <E:LL
L>QN:E HKB>GM:MBHG :;BEBMR >M< 0AHL> E:M> GB@AML LMN=RBG@ HK P:EDL MH MA> LMN=>GM <>GM>K P>K>
PA>GF:GRH?NLEBLM>G>=MH>:<AHMA>KZLLMHKB>L
)R :=OB<> BL MH M:D> MBF> MH >Q:FBG> RHNK :MMBMN=>L :G= I>K<>IMBHGL H? I>HIE> =B_>K>GM ?KHF
RHNKL>E? INM RHNKL>E? BG LBMN:MBHGL MA:M PBEE <A:EE>G@> RHNK :LLNFIMBHGL :G= E:LMER PA>G RHN F:D>
: FBLM:D> =H GHM @>M =BL<HNK:@>= '>>I MKRBG@ %MZL >:LR MH LM:R PA>K> P> :K> <HF?HKM:;E> HEE>@>
BLLN<A:PHG=>K?NE>QI>KB>G<>0:D>BM:EEBG:G=%:FLNK>RHNPBEE>GCHRBM
713<A3/<2BB@70CB7=<A
@=79BG987CBH9BH,<5F98DF9J=CIG@M
CIB85H=CBG C: 7589A=7 ,I779GG 0CF8G C: 0=G8CA 8=H98 6M -<CA5G )F=9GH9F %C75H98 5H
<HHDGA=@B9DI6@=G<=B;;9B9G9C98I:CIB85H=CBGC:57589A=7GI779GG7<5DH9FK<MGCA5BM
EI9GH=CBG GG5M5IH<CF986M 5H=A5+C8F=;I9N#C<BGCB%=79BG92HHF=6IH=CB
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
<5DH9F)@5BB=B;C@@9;9,7<98I@9
=*/41.%8/&!3(/42!.$2)3%2"%').26)3(!2).',%#,)#+>
PIH<CF.B?BCKB
,E:GGBG@ : <E:LL L<A>=NE> BL :G HIIHKMNGBMR ?HK LMN=>GML MH M:D> MA> E>:= BG MA>BK >=N<:MBHG:E
>QI>KB>G<> "HK LHF> LMN=>GML BM PBEE ;> MA> `KLM MBF> IE:GGBG@ : <HEE>@> L<A>=NE> 0A> :FHNGM H?
?K>>=HFMH<AHHL><E:LL>L<:G;>>Q<BMBG@:G=?KB@AM>GBG@:EE:MMA>L:F>MBF>
>?HK>;>@BGGBG@MA>K>:K>LHF>D>R?:<MHKLMH<HGLB=>K
 $:O>RHNF>MPBMA:G:<:=>FB<:=OBLHKHK<HNGL>EHK
 3BEERHN;>@HBG@MHL<AHHE?NEEMBF>HKI:KMMBF>
 $:O>RHNM:D>G<HEE>@>IE:<>F>GMM>LML
 K>MA>K>LI><B`<<HNKL>LRHN:K>K>JNBK>=MHM:D>
 $HPF:GR=:RL:P>>D=HRHNP:GMMH;>HG<:FINL3BEERHN;>M:DBG@HGEBG><E:LL>L
 H:GRH?MA><E:LL>LRHNP:GMMHM:D>A:O>IK>K>JNBLBM>LHK<HK>JNBLBM>L
 H:GRH?MA><E:LL>LA:O>:==BMBHGK>JNBK>F>GMLLN<A:LE:;LHKHMA>K<HFIHG>GML
 $HPFN<AMBF>PBEERHNA:O>MH=>OHM>MHL<AHHEK>E:M>=:<MBOBMB>L=NKBG@MA>M>KF
 K>RHN:FHKGBG@I>KLHGHK:GB@AMI>KLHG
 $:O>RHN;:E:G<>=K>JNBK>=<E:LL>LPBMAE>LLBGM>GLBO>>E><MBO>L
 HRHNG>>=:GRLI><B:E:<<HFFH=:MBHGL?HKMA><E:LL>LRHNA:O>L>E><M>=
 HRHNA:O>:EM>KG:MBO><HNKL>LBGFBG=BG<:L>MA><E:LL>LRHNP:GM:K>GHM:O:BE:;E>
/:/<17<5=::353*=@9/<2743
MM>G=BG@ <E:LL>L LMN=RBG@ PHKDBG@ :G= `G=BG@ MBF> ?HK ?:FBER ?KB>G=L :G= RHNKL>E? <:G ;>
: <A:EE>G@BG@ L<A>=NE> ?HK <HEE>@> LMN=>GML MH ;:E:G<> $HP : LMN=>GM HK@:GBS>L MA>BK <E:LL EH:=
<:G :_><M MA>BK HO>K:EE LN<<>LL PA>G LM:KMBG@ <HEE>@> E:LL G:F>L F:R K>FBG= LMN=>GML H? AB@A
L<AHHE <E:LL>L :G= AHP <E:LL>L P>K> L<A>=NE>= BG MAHL> R>:KL HEE>@> <E:LL>L F:R HGER F>>M HG<>
: P>>D HK :L F:GR :L MBF>L : P>>D *HM :EE <E:LL>L :K> PHKMA MA> L:F> :FHNGM H? <K>=BM HK
A:O> MA> L:F> :MM>G=:G<> K>JNBK>F>GML /HF> <E:LL>L EBD> BHEH@R HK /I:GBLA PBEE IKH;:;ER A:O>
:==BMBHG:E E:; K>JNBK>F>GML PAB<A F>:GL : LMN=>GM PBEE G>>= MH LI>G= :==BMBHG:E MBF> HG <:FINL
?HK MAHL> E:;L 3KBMBG@ <E:LL>L PBEE K>JNBK> MBF> HNMLB=> H? <E:LL IK>I:KBG@ >=BMBG@ :G= K>OBLBG@
I:I>KL ):GR M>:<A>KL K>JNBK> >E><MKHGB< LN;FBLLBHG H? I:I>KLIKHC><ML /MN=>GML F:R G>>= MH ;NBE=
BG >QMK:MBF>?HKF>>MBG@LN;FBLLBHG=>:=EBG>L
L : G>P <HEE>@> LMN=>GM BM BL : @HH= B=>: MH M:D> ?>P>K <E:LL>L BG MA> ;>@BGGBG@ :L RHN E>:KG
PA:M <HEE>@> <E:LL>L PBEE F>:G MH RHNK =:BER EB?> /MN=>GML PAH PHKD ?NEEMBF> FB@AM P:GM MH LM:KM
PBMA HK <E:LL>L 5HN F:R `G= MA:M RHN <:G A:G=E> FHK> :L RHN E>:KG MH F:G:@> RHNK <E:LL MBF>
:G= PHKD MBF> <HNGL>EHK HK :=OBLHK <:G A>EI RHN PBMA MABL =><BLBHG > LNK> MH BG<EN=> <E:LL>L
MA:MBGM>K>LMRHN:LP>EE:LK>JNBK>=<E:LL>L
/HF>MABG@ MH MABGD :;HNM 0A> M:;E> ;>EHP BEENLMK:M>L MA> K><HFF>G=>= GNF;>K H? AHNKL :
LMN=>GMLAHNE=LMN=RI>KP>>D;:L>=HGMA>GNF;>KH?NGBMLMA>R:K>M:DBG@
=C@:G%31=;;3<2/B7=<A>3@E339
0CF? .B=HG ,HI8M-=A9 -CH5@
  
  
   
*63@37A1:/AA7<4=@;/B7=<:=1/B32
0A> <HEE>@> %#6#.1) PBEE A:O> =>L<KBIMBHGL H? LI><B`< <E:LL>L :G= MA> <HEE>@> 5%*'&7.' ?HK >:<A M>KF
PBEE ;> MA> IE:<> MH `G= PA:M FH=:EBMR BG I>KLHG AR;KB= HK HGEBG> =:RL MBF>L :G= EH<:MBHGL ?HK
<E:LL>L*HM:EE<E:LL>L:K>H_>K>=>O>KRM>KF:G=LHF>FNLM;>M:D>GBGL>JN>G<>
=EB=@3/2B631=C@A3<C;03@7<5AGAB3;
HNKL>L :K> B=>GMB`>= ;R : LN;C><M :G= : GNF;>K 0H L>:K<A ?HK <HNKL>L PA>G IE:GGBG@ RHNK <E:LL
L<A>=NE> RHN PBEE @>G>K:EER NL> MA> LN;C><M :G= L><MBHG GNF;>K MH B=>GMB?R MA> <HNKL> K:MA>K MA:G
MA><HNKL>MBME>
*%  P<B@=2C1B7=<B==::353*@7B7<5
,I6>97H 'IA69F CIFG9-=H@9
):GR <HEE>@>L NMBEBS> L><MBHG GNF;>KL MA:M B=>GMB?R LI><B`< L><MBHGL H? MA> <E:LL ;>BG@ H_>K>=
/><MBHGGNF;>KL:K>H?M>GNL>=;RLMN=>GMLMHK>@BLM>K?HKMA>BK<E:LL>L
%? RHN A:O> L>E><M>= : LI><B`< IKH@K:F H? LMN=R <HGLNEM MA> <HEE>@> <:M:EH@ ?HK =BK><MBHGL HG MA>
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
L>JN>G<> H? <HNKL>L MH M:D> :G=HK EHHD NI MA> <HNKL>L K>JNBK>= ?HK RHNK IKH@K:F H? LMN=R MH L>>
B?MA>RA:O>IK>K>JNBLBM>LHK<HK>JNBLBM>L
<=E93G2/B3A/<223/2:7<3A
+K@:GBS:MBHG BL :G BFIHKM:GM I:KM H? ;>BG@ : LN<<>LL?NE <HEE>@> LMN=>GM +G> BFIHKM:GM :LI><M H?
HK@:GBS:MBHG BL DGHPBG@ MA> BFIHKM:GM =:M>L ?HK RHNK <E:LL>L :G= MA> <HEE>@> BG @>G>K:E <:=>FB<
=>:=EBG>L F:MM>K >:=EBG>L BG <HEE>@> F:R not ;> a>QB;E> 0A>R <:G A:O> <HGL>JN>G<>L ?HK
`G:G<B:E :B= :G= @K:=BG@ MA:M <:GGHM ;> NG=HG> LMN=>GM G>>=L MH ;> :P:K> H? D>R =:M>L
MAKHN@AHNM MA> M>KF 0A> K>LIHGLB;BEBMR ?HK DGHPBG@ BFIHKM:GM =:M>L EB>L PBMA MA> LMN=>GM 0A>
<HNKL> LREE:;NL MA:M RHN @>M ?HK >:<A <E:LL RHN M:D> PBEE A:O> BFIHKM:GM =:M>L ?HK MA:M LI><B`< <E:LL
0A><HEE>@>PBEEINMBFIHKM:GM=:M>LMHDGHPHG:G:<:=>FB<<:E>G=:K?HKMA>L<AHHE
!Q:FIE>LH?D>R=:M>LMHDGHP?HK:<HEE>@>
] 3A>G=H>LMA>M>KFL>F>LM>KLM:KM:G=>G=
] K>MA>K>AHEB=:RLHK<:FINL<EHLNK>L=NKBG@MA>M>KF
] 3A>GBLMA>E:LM=:RMH=KHI:<E:LLPBMA:<HFIE>M>K>?NG=
] 3A>GBLMA>E:LM=:RMHF:D><A:G@>LMHRHNKL<A>=NE>
] 3A>GBLMA>E:LM=:RMH=KHI:<E:LL
] 3A>GBLMA>E:LM=:RMH<A:G@>@K:=BG@HIMBHGL
] 3A>GBL`G:ELP>>D:G=PA:MBMMA>L<A>=NE>EBD>=NKBG@MA:MP>>D
713<A3A/<2BB@70CB7=<A
 @=79BG98 7CBH9BH )F9J=CIG@M G<5F98  =[9F9BH +C58 -C C@@9;9  !I=89 CF -F5BG=H=CB=B;
-C C@@9;9 CF 'CBHF58=H=CB5@ ,HI89BHG IH<CF98 6M @=G9 %5ACF95IL %C75H98 5H
<HHDGCD9BCF9;CBDF9GG6CC?GDI67C@@9;9HF5BG=H=CB7<5DH9F7<5DH9F %=79BG9  2
HHF=6IH=CB
85DH=CBG+9:CFA5HH98 +9D@5798<CIFGD9FK99?H56@9
<5DH9F)@5BB=B;C@@9;9,7<98I@9 
<5DH9F0CF8GC:0=G8CA-<9G9F9H<9
9GH295FGC:2CIF%=:9
Sara Vacin
0A>L> :K> MA> ;>LM R>:KL H? RHNK EB?> % AHI> RHNZO> ;>>G MHE= MABL : KB=B<NEHNL :FHNGM H? MBF>L
:G= MA:M RHN :K> `G=BG@ MABL MH ;> MKN> HEE>@> IKHOB=>L :G :F:SBG@ HIIHKMNGBMR MH >QI:G= RHNK
FBG= F>>M NGBJN> I>HIE> RHN <:G =>>IER <HGG><M PBMA :G= =BL<HO>K G>P :LI><ML H? RHNKL>E?
>BG@:P:K>H?MABL>G>K@R:G=M:DBG@?NEE:=O:GM:@>H?MA>L>HIIHKMNGBMB>L<:G;>EB?><A:G@BG@
5HN E>:KG : EHM :;HNM RHNKL>E? PA>G EBOBG@ HG RHNK HPG ?HK MA> `KLM MBF> HK LMN=RBG@ MHIB<L MA:M
:K> <HFIE>M>ER M:;HH :M RHNK AHF>ZL DBM<A>G M:;E> 3A>G % MK:GL?>KK>= MH : ?HNKR>:K BGLMBMNMBHG
% ?HNG= MA> LMK>G@MA MH <HF> HNM .>:EBSBG@ % P:L @:R E>= F> MH JN>LMBHG PA>K> % ;>EHG@>= BG
MA> K>EB@BHG % P:L K:BL>= BG :G= :G >GEB@AM>GBG@ CHNKG>R >GLN>= H? >QIEHKBG@ N==ABLF *:MBO>
F>KB<:G ;>EB>?L :G= >O>G *>P @> FRLMB<BLF 0ABL IKH<>LL H? JN>LMBHGBG@ PA:M % ;>EB>O>=
A>EI>= F> MH <K>:M> : LIBKBMN:E ?HNG=:MBHG MA:M F:D>L L>GL> MH F> % D>IM MA> ;>LM H? PA:M % P:L
K:BL>=BG:G=NI@K:=>=MA>K>LM
% :ELH =BL<HO>K>= MA:M MA> <HEE>@> % :MM>G=>= A:= :F:SBG@ MHHEL MH A>EI F> ;> :L A>:EMAR :L
IHLLB;E> % NL>= MA> ?K>> @RF :G= DG>P MA> <HNGL>EBG@ <>GM>K P:L MA>K> B? :GRMABG@ ;><:F>
MHH MHN@A % :ELH <AHL> BG<K>=B;E> >E><MBO>L BG<EN=BG@ )HNGM:BG>>KBG@ :G= )H=>KG :G<> MA:M
LMK>M<A>= FR IARLB<:E <:I:;BEBMB>L ==BMBHG:EER % F:=> =>>I <HGG><MBHGL PBMA FR IKH?>LLHKL
F:GR H? PAHF K>F:BG ?KB>G=L 0A>L> LF:KM <:KBG@ I>HIE> O:EB=:M>= FR CHNKG>R :G= P>K> FR
L:?>MRG>M:L%@K>PHNMH?FRHE=<HF?HKM:;E>L>E?
GHMA>K BG<K>=B;E> E>LLHG E>:KG>= P:L MA> BFIHKM:G<> H? ;:E:G<> % <HNE=GZM I:KMR >O>KR GB@AM
:G= G>@E><M FR L<AHHEPHKD PBMAHNM <HGL>JN>G<>L % `@NK>= HNM MA> A:K= P:R MA:M % K>:EER =B=
G>>= LE>>I :G= % <HNE=GZM GHNKBLA FR ;H=R HG <H_>> :G= IBSS: :EHG> %G : FHF>GM H? ;KBEEB:G<>
% :ELH `@NK>= HNM MA:M B? % NL>= MBF> PBMA FR ?KB>G=L :L : K>P:K= ?HK `GBLABG@ FR PHKD % PHNE=
LMN=R :G= <HFIE>M> :LLB@GF>GML FHK> >b<B>GMER "NG <:G ;> : @K>:M FHMBO:MHKXMKR MABL BM PHKDL
%G <HEE>@> MA> >FIA:LBL BL H?M>G HG MA> FBG= H RHNKL>E? : ?:OHK :G= K>F>F;>K MH :ELH
GHNKBLA RHNK LIBKBM :G= M:D> <:K> H? RHNK ;H=R (>:O> <HEE>@> ;KB@AM>K A>:EMAB>K :G= PBMA : G>P
NG=>KLM:G=BG@ H? RHNKL>E? 0KR MA:M RH@: HK GNMKBMBHG <E:LL &HBG MA:M G>P <EN; 0K:=> BG MA:M
LH=: ?HK P:M>K &NFI BGMH MA:M =KNF <BK<E> HK BFIKHOBL:MBHG @KHNI 3AH DGHPL PA:M RHN PBEE
=BL<HO>KXBMCNLMF:R;>@K>:MG>LL
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH,<5F98DF9J=CIG@M
CIB85H=CBG C: 7589A=7 ,I779GG 0CF8G C: 0=G8CA 8=H98 6M -<CA5G )F=9GH9F GG5M 5IH<CF98
6M ,5F5 /57=B %C75H98 5H <HHDGA=@B9DI6@=G<=B;;9B9G9C98I:CIB85H=CBGC:57589A=7GI779GG
7<5DH9FH<9G95F9H<969GHM95FGC:MCIF@=:9 %=79BG92HHF=6IH=CB
<5DH9F0CF8GC:0=G8CA-<9G9F9H<99GH295FGC:2CIF%=:9 
<5DH9F0CF8GC:0=G8CA0=H<5%=HH@9
"9@D:FCA&M F=9B8G
Paulo Fernandes
3> H?M>G A>:K :;HNM MA> BFIHKM:G<> H? K>E:MBHGLABIL : G><>LL:KR :LI><M H? BGM>@K:MBHG BG LH<B>MR
1G?HKMNG:M>ER P> K:K>ER ?HEEHP MA:M :=OB<> ,>KA:IL P> EBO> :G >Q<>LLBO>ER ;NLR EB?> HK P> :EK>:=R
A:O> : <EHL> @KHNI H? ?KB>G=L :G= =H GHM ?>>E <HFI>EE>= MH F>>M G>P I>HIE> % A:O> <HF> MH E>:KG
MAKHN@A FR MBF> BG <HEE>@> MA:M G>@E><MBG@ MH <NEMBO:M> G>P K>E:MBHGLABIL BL =>MKBF>GM:E MH EBOBG@
: A:IIR :G= LN<<>LL?NE EB?> % PHNE= EBD> MH H_>K MABL IB><> H? :=OB<> 01 /#66'4 *19 &+B%7.6 +6 5''/5
#6 A456 #.9#;5 64; 61 /#-' 0'9 (4+'0&5 HEE>@> BL GHM :EP:RL >:LR $HP>O>K A:OBG@ ?KB>G=L F:D>L BM
FN<A >:LB>K "KB>G=L :K> : OBM:E I:KM H? RHNK EB?> MA:M <:G >QIHL> RHN MH G>P LN;C><ML <NEMNK>L :G=
>QI>KB>G<>LPABE>@BOBG@RHNMA>HIIHKMNGBMRMH=HMA>L:F>?HKMA>F
M FR <HEE>@> MA>K> P:L : LF:EE LI:<> MA:M MA> LMN=>GML <:EE>= [MA> ;:M <:O>\ %M P:L ;R GH
F>:GL : `KLM<E:LL EHNG@> ;NM BM P:L : IE:<> PA>K> ?KB>G=L <HNE= A>EI HMA>KL ;>MM>K NG=>KLM:G=
MA>BK <HNKL> F:M>KB:E 3> @:O> BM MABL I><NEB:K GB<DG:F> ;><:NL> BM P:L HNK IE:<> MH @>M MH@>MA>K
:G= <HGJN>K OBEE:BGL HG> :?M>K :GHMA>K 0A>L> P>K> GHM RHNK >O>KR=:R LNI>K OBEE:BGL AHP>O>K
/HF>MBF>L MA>R P>K> <HFIEB<:M>= AHF>PHKD :LLB@GF>GML :G= HMA>K MBF>L MA>R P>K> =Bb<NEM
>Q:FL *H F:MM>K MA> <A:EE>G@> LHF>HG> P:L :EP:RL PBEEBG@ MH A>EI % P>GM MH MA> ;:M <:O> L>O>K:E
MBF>L :G= >O>KR OBLBM % E>:KG>= LHF>MABG@ G>P ,KH?>LLHKL :G= M>:<ABG@ :LLBLM:GML <HNE= GHM K>E:M>
MH NL EBD> HNK ?KB>G=L <HNE= 0A:M F:=> : =B_>K>G<> ;><:NL> GHMABG@ P:L ;>MM>K MA:G ;>BG@ M:N@AM
;R:?KB>G=
"KB>G=L :K> GHM HGER :G >LL>GMB:E LNIIHKM ?HK RHNK MBF> BG L<AHHE ;NM :ELH <:G ;> BGM>@K:E BG
A>EIBG@ K>:EBS> IHLM<HEE>@> :LIBK:MBHGL NKBG@ : OBLBM MH *>P 5HKD BMR % OBLBM>= MA> Hb<>L
H? MA> <HFI:GR /IHMB?R ?M>K MHNKBG@ MA>BK ?:<BEBMB>L % A:= MA> HIIHKMNGBMR MH M:ED MH LHF> H?
MA> >FIEHR>>L +G> F:G % M:ED>= PBMA P:L : L>GBHK >FIEHR>> PAH PHKD>= :M )B<KHLH?M IKBHK MH
CHBGBG@ /IHMB?RZL M>:F +NK <HGO>KL:MBHG LMN<D BG FR A>:= ;><:NL> A> @:O> : O>KR LMKBDBG@ IB><>
H? :=OB<> F:D> ?KB>G=L %M G>O>K MKNER H<<NKK>= MH F> MA:M MA> ?KB>G=L RHN F:D> BG <HEE>@> <HNE=
BFI:<M RHNK ?NMNK> BG MA> PHKD?HK<> 0A>R <HNE= ;> I:KMG>KL BG IHM>GMB:E ;NLBG>LL O>GMNK>L HK A>EI
RHN E:G= RHNK =K>:F CH; %G :GR <:L> A:OBG@ LMKHG@ <HGG><MBHGL PBMA ?KB>G=L <:G NG=HN;M>=ER
F:D>:F:CHK=B_>K>G<>BGRHNK<:K>>K
0A> ;>LM I:KM H? F:DBG@ G>P ?KB>G=L AHP>O>K BL MK:=BG@ EB?> >QI>KB>G<>L LDBEEL :G= BGM>K>LML
PBMA MA>F "HK : R>:K :G= : A:E? ;>?HK> FR `G:E L>F>LM>K H? <HEE>@> % LMN=B>= :;KH:= BG MA>
1GBM>= /M:M>L )R ?:FBER P:L <HG<>KG>= ;><:NL> MRIB<:EER LMN=>GML L>:K<A ?HK `KLM CH;L IKBHK MH
@K:=N:MBHG % HG MA> HMA>K A:G= A:= GH MK>IB=:MBHGL :;HNM @HBG@ ;><:NL> % DG>P MA:M % PHNE=
A:O> <HNGME>LL >Q<BMBG@ E>:KGBG@ >QI>KB>G<>L % <:G L:R MH=:R PBMAHNM : =HN;M MA:M FR MKBI P:L
: @K>:M =><BLBHG % F>M BG<K>=B;E> I>HIE> :G= MAKHN@A DGHPBG@ MA>F % @K>P :G= <A:G@>= %
:ELH DGHP MA:M % P:L : IHLBMBO> ?>:MNK> BG MA> EBO>L H? FR G>P ?KB>G=L 0A> @K>:M>LM MABG@ MA:M %
E>:KG>= P:L MA:M F>>MBG@ =B_>K>GM I>HIE> PBMA =B_>K>GM ;:<D@KHNG=L ABLMHKB>L I>KLI><MBO>L HK
>O>G =B_>K>GM FNLB<:E M:LM>L BG>OBM:;ER <A:G@>L RHN :G= E>ML RHN L>> MA> PHKE= BG :G >GMBK>ER
=B_>K>GM P:R 5HN GH EHG@>K L>> MA> PHKE= :L LBFIER : ;B@ ;EN> LIA>K> PBMA ?K>>SBG@ PBGM>KL HK
LBSSEBG@ LNFF>KL :EMAHN@A MA:M <>KM:BGER L>>FL MH ;> MA> <:L> NI *HKMA ;NM :L : IE:<> BG PAB<A
I>HIE>EBD>RHNEBO>E>:KG:G=EHO>
#HBG@ MH <HEE>@> F:R L>>F A:K= ;NM BM =H>L GHM G>>= MH ;> % A:O> E>:KG>= MA:M MA> P:R %
I>K<>BO> FR EB?> :L : LMN=>GM <HFIE>M>ER K>EB>L NIHG FR K>E:MBHGLABIL PBMA FR ?KB>G=L 0A>R :K> GHM
HGER MA> I>HIE> MA:M % EBD> MH LI>G= MBF> PBMA ;NM :ELH :K> >LL>GMB:E BG FR @KHPMA :G= =>O>EHIF>GM
:L : ANF:G ;>BG@ 0A> I:@>L BG MABL ;HHD BG<EN=> BGLB@AML ?KHF HMA>KL CNLM EBD> RHN :G= F> 0A>R
P:GM MH A>EI RHN @>M MAKHN@A MA> <HFFHG LMKN@@E>L H? <HEE>@> PBMA <HG`=>G<> :G= I>KL>O>K:G<>
HGLB=>K MA>F RHNK FHLM K><>GM G>P ?KB>G=L % MKNER AHI> MA:M MABL BGLIBK>L RHN BG RHNK JN>LM ?HK
:@K>:M?NMNK>
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH,<5F98DF9J=CIG@M
CIB85H=CBG C: 7589A=7 ,I779GG 0CF8G C: 0=G8CA 8=H98 6M -<CA5G )F=9GH9F GG5M 5IH<CF98
6M )5I@C 9FB5B89G %C75H98 5H <HHDGA=@B9DI6@=G<=B;;9B9G9C98I:CIB85H=CBGC:57589A=7
GI779GG7<5DH9FK=H<5@=HH@9<9@D:FCAAM:F=9B8G %=79BG92HHF=6IH=CB
<5DH9F0CF8GC:0=G8CA0=H<5%=HH@9"9@D:FCA&M F=9B8G 
(<7B'7;3'==:A/<2&BC2G
<D7@=<;3<B
3/@<7<5"0831B7D3A
:H9FMCI<5J97CAD@9H98H<=GIB=HMCIG<CI@86956@9HC
V 9G7F=69 <CK MCIF KCF@8 J=9K 5B8 G9BG9 C: G9@:9Z757M 7CBHF=6IH9 HC MCIF H=A9 HCC@G 5B8
9BJ=FCBA9BHA5B5;9A9BH<56=HG
V LD@5=B<CKH=A9=G5@=A=H985B8DF97=CIG7CAAC8=HM
V =G7IGG<CKAI7<GHI8M=B;=G9LD97H98HC69GI779GG:I@
V 9G7F=69<CKHC=89BH=:M;C5@G
V 9G7F=69<CKHCCF;5B=N9;C5@G
V 9G7F=69<CKHCDF=CF=H=N9;C5@G
V LD@5=B <CK HC 69GH A5B5;9 MCIF H=A9 K=H< F9;5F8G HC H<9 B998G C: MCIF @=:9 G7<CC@
<CA9KCF?<CA9@=:9KCF?5B8TA9H=A9U5B8MCIFCDH=AIAKCF?=B;H=A9G
V \89BH=:MH<98=[9F9B7969HK99B;C5@G5B8K=G<9G
V =G7IGGK<MDFC7F5GH=B5H=CBC77IFG5B8GHF5H9;=9GHCCJ9F7CA9=H
V LD@5=BB9K=895G56CIH<CKHCA5B5;98=GHF57H=CBGHC588HCK<5HMCIA5M5@F958M9AD@CM
V 9G7F=69 <CK HC A5B5;9 DFC7F5GH=B5H=CB H9B89B7=9G K=H< GCA9 HF=985B8HFI9 GHF5H9;=9G 5G
K9@@5G5:9KB9KCB9G
V =G7IGG<CKHC9B<5B79MCIFG9BG9C:G9@:9Z757M
V 9G7F=69 <CK HC 7F95H9 IG9:I@ CF;5B=N5H=CB5@ A5H9F=5@G HC <9@D MCI K=H< 5 J5F=9HM C:
98I75H=CB5@H5G?G5GK9@@5G=BCH<9F5F95GC:MCIF@=:9
V \89BH=:M 5B8 9LD@5=B GHI8M G?=@@G 5B8 <CK H<9M 75B 69 IH=@=N98 HC <9@D GHI89BHG 69 ACF9
GI779GG:I@
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BHDF9J=CIG@MG<5F98
"CK HC %95FB %=?9 5 )FC IH<CF98 6M )<M@@=G '=GG=@5 %C75H98 5H
<HHDGCD9BCF9;CBDF9GG6CC?GDI67C@@9;9F958=B;D5FHIB=H %=79BG985G2HHF=6IH=CB
85DH=CBG8=HG:FCA5B=BGHFI7H=CB5@89G=;BD9FGD97H=J9
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2HHF=6IH=CB

<5DH9F-=A9&5B5;9A9BH-<9CFM
=)-%)23(%/.,8#/--/$)383(!3-!33%12>
P+5B8M)5IG7<
)R ?:OHKBM> :LI><M H? MBF> BL BML >JN:EBMR .>@:K=E>LL H? HNK K:<> K>EB@BHG HK :@> :EE H? NL A:O>
MA> L:F> :FHNGM H? MBF> BG : =:R P>>D FHGMA :G= R>:K 3>:EMAR I>HIE> <:GGHM ;NR FHK> MBF>
:G= IHHK I>HIE> =H GHM K><>BO> E>LL MBF> FBGNM> ?HK : M:EE I>KLHG BL MA> L:F> :FHNGM H? MBF>
?HK : LAHKM I>KLHG G AHNK ?HK : PHF:G BL MA> L:F> :FHNGM H? MBF> ?HK : F:G .>@:K=E>LL H?
AHP F:GR E:G@N:@>L LHF>HG> LI>:DL MA>BK L>QN:E HKB>GM:MBHG >MAGB<BMR >=N<:MBHG:E ;:<D@KHNG=
BG<HF> HK >QI>KB>G<> P> :EE A:O>  =:RL BG : R>:K /HF> I>HIE> PBEE EBO> EHG@>K MA:G HMA>KL
;NM PA>G <HFI:K:MBO>ER F>:LNKBG@ AHP FN<A MBF> ANF:GL A:O> PBMA >:<A HMA>K P> :EE A:O> MA>
L:F>:FHNGM
0BF>BL:IHINE:KIABEHLHIAB<:E<HG<>IM5HNF:RA:O>A>:K=LHF>H?MA>?HEEHPBG@L:RBG@L
] 0BF>aB>LPA>GRHN:K>A:OBG@?NG
] 0A:MBL:P:LM>H?MBF>
] 0BF>BLFHG>R
] 3>A:O>:EEMA>MBF>BGMA>PHKE=
] 0A:MP:L:GNGMBF>ER=>:MA
] 0A>MBF>BLKB@AM
] %ZFA:OBG@MA>MBF>H?FREB?>
] 0BF>A>:EL:EEPHNG=L
] 3>A:O>LHF>MBF>MHDBEE
] 3A:M=HMA>L:RBG@LF>:GMHRHN
0BF> BL :ELH AHP P> D>>I MK:<D H? PA>G P>ZK> LNIIHL>= MH ;> :G= PA>K> P>ZK> LNIIHL>= MH ;>
PHKD AHF> <E:LL F>>MBG@ ?KB>G=L :G= ?:FBER >M< 0ABGD :;HNM AHP F:GR F>:LNK>L H? MBF>
RHN A:O> BG RHNK AHF> <EH<DL P:M<A>L <>EE IAHG>L 02L 2.L <HFINM>KL FB<KHP:O>L HO>GL
MA>KFHLM:ML>M<%MBLH;OBHNLMBF>BLBFIHKM:GMMHNL
'7;37;7B32/<2#@317=CA=;;=27BG
3> <:GGHM @H ;:<D BG MBF> %? % NL>= FR MBF> IHHKER E:LM 3>=G>L=:R % <:G =H GHMABG@ MH @>M BM
;:<D +MA>K <HFFH=BMB>L F:R :EEHP ?HK :<<NFNE:MBG@ FHK> HK LM:KMBG@ HO>K ;NM MBF> =H>L GHM
3><:GGHM[L:O>\MBF>GHK>:KGFHK>MBF>
=A&8/4(!$!"!.+3(!3#1%$)3%$8/41!##/4.3%!#(-/1.).'6)3("43#!11)%$./"!,!.#%&1/-
$!83/$!8!.$!,,/6%$8/43/+%%0./#!2().8/41!##/4.3!.$%5%18%5%.).'#!.#%,,%$6(!3%5%10!13
/&3(%!-/4.38/4(!$&!),%$3/42%$41).'3(%$!86(!36/4,$8/4$/1!6/43%5%18#%.3/&#/412%
%,,8/4(!5%24#(!"!.+!.$)32.!-%)23)-%5%18-/1.).')3#1%$)328/46)3(2%#/.$25%18
.)'(3)361)3%2/@!2,/236(!3%5%1/&3(%2%8/4(!5%&!),%$3/).5%233/'//$0410/2%A3#!11)%2./"!,!.#%
)3!,,/62.//5%1$1!&32!#($!8)3/0%.2!.%6!##/4.36)3(8/4!#(.)'(3)3"41.23(%1%#/1$/&3(%
$!8 A&8/4&!),3/42%3(%$!8<2$%0/2)33(%,/22)28/412(%1%)2./'/).'"!#+(%1%)2./$1!6).'
!'!).233(%-/11/6 /4-423,)5%).3(%01%2%.3:/.3/$!8<2$%0/2)3A.5%23)32/!23/'%33(%43-/23).
(%!,3(!.$(!00).%22!.$24##%22>
PBCBMACIG
0><AGB<:EER MBF> <:GGHM ;> F:G:@>= ;NM P> E:;>E BM MBF> F:G:@>F>GM PA>G P> M:ED :;HNM AHP
I>HIE> NL> MA>BK MBF> 3> H?M>G ;KBG@ NI >b<B>G<R :G= >_><MBO>G>LL PA>G =BL<NLL AHP I>HIE>
LI>G= MA>BK MBF> ;NM P> <:GGHM EBM>K:EER F:G:@> MBF> ;><:NL> MBF> <:GGHM ;> F:G:@>= 3A:M
P> <:G =H MAHN@A BL `G= ;>MM>K P:RL MH LI>G= HNK MBF> :EEHPBG@ NL MH :<<HFIEBLA HNK FHLM
BFIHKM:GMM:LDL:G=LI>G=MBF>PBMAMA>I>HIE>FHLMBFIHKM:GMMHNL
$NF:G ;:;B>L =H GHM <HF> PBMA BGLMKN<MBHG F:GN:EL 0A>K> BL GHMABG@ MH ?HEEHP MH DGHP AHP
P> :K> LNIIHL>= MH LI>G= HNK MBF> )HLM H? NL LI>G= HNK MBF> =HBG@ : <HF;BG:MBHG H? PA:M
BGM>K>LMLNLPA:MBLBFIHKM:GMMHNL:G=PA:MP>?>>EP>[A:O>\MH=H
3A:M BL RHNK K>E:MBHGLABI PBMA MBF> K> RHN NLN:EER >:KER KB@AM HG MBF> HK E:M> H RHN `G=
RHNKL>E? H?M>G L:RBG@ [% PBLA % A:= FHK> MBF>\ K> RHN L:MBL`>= PBMA RHNK K>E:MBHGLABI PBMA MBF>
HKPHNE=RHNEBD>MH<A:G@>BM
'63)/:C3=4'7;3
%M BL :ELH BFIHKM:GM MH =>M>KFBG> AHP FN<A RHNK MBF> BL PHKMA MH RHN %? LHF>HG> P>K> MH
G>@HMB:M> ?HK :G AHNK H? RHNK MBF> AHP FN<A PHNE= MA:M ;> PHKMA MH RHN 3> H?M>G >JN:M> MBF>
PBMA FHG>R ):GR H? NL PHKD BG IHLBMBHGL PA>K> P> :K> I:B= ;R MA> AHNK MABL @BO>L NL LHF>
<5DH9F-=A9&5B5;9A9BH-<9CFM 
@:N@> H? PA:M P> :K> PHKMA MH HNK >FIEHR>KL /HF> BM>FL P> INK<A:L> ;><:NL> P> MABGD MA>R
:K> H? @HH= O:EN> ?HK MA>BK IKB<> +MA>KL P> I:LL HG K> LHF> AHNKL H? RHNK =:R FHK> BFIHKM:GM
HK FHK> O:EN:;E> MA:G HMA>KL 3AR K> RHN FHK> IKH=N<MBO> BG MA> FHKGBG@ HK BG MA> >O>GBG@
+G<> I>HIE> K>:EBS> AHP O:EN:;E> MBF> BL MA>R H?M>G @H MH @K>:M E>G@MAL MH IKHM><M BM ;><:NL>
MA>R NG=>KLM:G= BML BFIHKM:G<> $HP FN<A PHNE= RHN I:R ?HK :G :==BMBHG:E AHNK BG : =:R 3A:M
PHNE=RHN=HPBMAMA:MMBF>3AR
3A:M BL MA> O:EN> H? RHNK MBF> $HP FN<A BL :G AHNK H? RHNK MBF> PHKMA %? LHF>HG> P>K> MH
I:RRHNMH=H:CH;AHPFN<AMBF>PHNE=MA:M;>PHKMA
$HP H%EEH<:M>)R0BF>
=!#+/&$)1%#3)/../3,!#+/&3)-%)23(%01/",%-%!,,(!5%(/41$!82>
P3=;3=;@5F
)HLM H? NL DGHP MA>K> :K>  AHNKL BG : =:R ;NM PA>G % :LD LMN=>GML AHP F:GR AHNKL :K> BG
: P>>D F:GR =H GHM DGHP MA> :GLP>K 0A>K> :K>  AHNKL BG : P>>D  AHNKL FNEMBIEB>= ;R
L>O>G =:RL % =HGZM ;>EB>O> MA:M BM BL BFI>K:MBO> MA:M LMN=>GML DGHP AHP F:GR AHNKL :K> BG : P>>D
;NM BM A>EIL PA>G P> LM:KM MH EHHD :M AHP FN<A MBF> P> A:O> BG : P>>D AHP P> P:GM MH LI>G=
HNKMBF>:G=AHPP>:<MN:EERLI>G=HNKMBF>
+G> <A:EE>G@> ?HK F:GR LMN=>GML BL MA> MK:GLBMBHG ?KHF MA> LMKN<MNK> H? AB@A L<AHHE MH MA>
LMKN<MNK> H? <HEE>@> %G AB@A L<AHHE LMN=>GML LI>G= : E:K@> IHKMBHG H? MA>BK MBF> BG <E:LL
:IIKHQBF:M>ER  AHNKL BG <E:LL I>K P>>D PABE> ?NEEMBF> <HEE>@> LMN=>GML F:R LI>G= HGER HG>
MABK= H? MA:M MBF> BG <E:LL :IIKHQBF:M>ER  AHNKL BG <E:LL I>K P>>D "NKMA>K <HEE>@> LMN=>GML :K>
:LLB@G>= FN<A FHK> AHF>PHKD MA:G AB@A L<AHHE LMN=>GML 0ABGD :;HNM AHP F:GR MBF>L HG> H?
RHNK AB@A L<AHHE M>:<A>KL @:O> RHN LHF>MABG@ MH K>:= =NKBG@ <E:LL %G <HEE>@> LMN=>GML :K> @BO>G
FHK>F:M>KB:EMHK>:=PBMAMA>>QI><M:MBHGMA:MBMBL=HG>HNMLB=>H?<E:LL
0ABL <:G <K>:M> <A:EE>G@>L ?HK LMN=>GML PAH :K> NG:;E> MH L>M :LB=> IKHI>K LMN=R MBF> ?HK >:<A
H? MA>BK <HNKL>L '>>I BG FBG= ?HK ?NEEMBF> LMN=>GML RHNK <HEE>@> >=N<:MBHG:E =:R LAHNE= GHM ;>
LAHKM>KMA:GRHNKAB@AL<AHHE=:R
$HNKER.><HFF>G=:MBHGLI>K3>>D
0CF? .B=HG ,HI8M-=A9 -CH5@
  
  
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
   
% NL> MABL M:;E> ?K>JN>GMER BG <HNGL>EBG@ :IIHBGMF>GML <E:LL>L :G= HKB>GM:MBHGL %MZL : @NB=> ?HK
LMN=>GML MA:M IKHOB=>L :G B=>: H? AHP FN<A MBF> LMN=>GML LI>G= PBMA PHKD :G= L<AHHE :G= PA:M
>QI>KML K><HFF>G= ?HK : LI><B`< :FHNGM H? PHKD AHNKL MA:M <HKK>E:M>L PBMA : LI><B`< GNF;>K H?
NGBML % EBD> MH :LD LMN=>GML AHP MA>R LI>G= MA>BK P>>D /MN=>GML :EP:RL DGHP MA>BK PHKD AHNKL
:G= MA>BK <E:LL MBF>L 0A>L> :K> >:LR MH IE:<> BG : L<A>=NE> HK HG : <:E>G=:K ;><:NL> MA>R :K>
IK>=>M>KFBG>= NM LMN=R MBF> BL MA> HG> :K>: MA:M <HGLBLM>GMER BL E>?M HNM H? : LMN=>GMZL L<A>=NE> %M
M:D>L BGBMB:MBO> MH BG<EN=> BM BG : LMN=>GMZL ;NLR P>>D :G= L>E?=BL<BIEBG> MH LMB<D MH BM $>K>ZL : MBI
3KBM> RHNK LMN=R MBF> BGMH RHNK L<A>=NE> HK <:E>G=:K %MZL BFIHKM:GM MH =H MABL ;><:NL> BMZL >:LR MH
LDBI : LMN=R L>LLBHG HK L:R MH RHNKL>E? [%ZEE =H BM E:M>K\ 3ABE> MA>K> PHNE= EBD>ER ;> :G BFF>=B:M>
<HGL>JN>G<> B? RHN =H GHM LAHP NI ?HK PHKD MA>K> BL GHM HG> B? RHN ?:BE MH LMN=R HG 0N>L=:R ?KHF
IFIF0A:M<HGL>JN>G<>F:RM:D>IE:<>E:M>KB?MA>LMN=RBG@BLGHMF:=>NI
%M BL PB=>ER LN@@>LM>= MA:M LMN=>GML G>>= MH LMN=R :IIKHQBF:M>ER MPH AHNKL ?HK >O>KR AHNK MA:M
MA>R LI>G= BG <E:LL BG HK=>K MH ;> LN<<>LL?NE
<
0ANL B? % :F M:DBG@ : <E:LL MA:M F>>ML HG )HG=:RL
:G= 3>=G>L=:RL ?KHF IFIF MAK>> AHNKL I>K P>>D % PHNE= P:GM MH LMN=R HNMLB=> H? <E:LL
LBQ AHNKL I>K P>>D 0ABL BL =>LB@G>= :L : @NB=> :G= BL GHM :G >Q:<M L<B>G<> 5HN FB@AM G>>= MH
LI>G= FHK> MBF> MA:G PA:M BL K><HFF>G=>= B? RHN :K> M:DBG@ : LN;C><M RHN `G= <A:EE>G@BG@ A:O>
?:EE>G ;>ABG= BG HK B? RHN :K> M:DBG@ LAHKMM>KF <E:LL>L 0ABL PHNE= <>KM:BGER ;> MKN> B? % P>K> MH
M:D> : IARLB<L <E:LL /BG<> % `G= E>:KGBG@ IARLB<L =Bb<NEM % FB@AM A:O> MH LI>G= MAK>> HK ?HNK AHNKL
H? LMN=R MBF> ?HK >:<A AHNK H? <E:LL BGLMKN<MBHG 5HN :ELH FB@AM G>>= MH LMN=R FHK> MA:G PA:M BL
K><HFF>G=>= B? RHN :K> EHHDBG@ MH :<AB>O> ;>MM>K @K:=>L HGO>KL>ER RHN FB@AM G>>= MH LI>G=
E>LL MBF> B? MA> LN;C><M <HF>L >:LR MH RHN LN<A :L LH<BHEH@R =H>L ?HK F> HK B? MA>K> BL GHM : EHM H?
:LLB@G>=AHF>PHKD
'>>I BG FBG= MA:M  AHNKL H? PHKD I>K P>>D BL MA> F:QBFNF K><HFF>G=>= ?HK ?NEEMBF>
LMN=>GML M:DBG@  L>F>LM>K NGBML BG : M>KF "HK LMN=>GML PHKDBG@ ?NEEMBF>  AHNKL : P>>D GH
FHK> MA:G LBQ NGBML BL K><HFF>G=>= 0A> MHM:E BL :ELH : O>KR BFIHKM:GM <:M>@HKR /MN=>GML H?M>G
LM:KM MH L>> =Bb<NEMR PA>G MA>BK MHM:E GNF;>K H? AHNKL ;>MP>>G PHKD :G= L<AHHE >Q<>>=L  I>K
P>>D 0A> :FHNGM H? LE>>I =><K>:L>L LMK>LL BG<K>:L>L @K:=>L LN_>K CH; I>K?HKF:G<> =><K>:L>L :G=
LMN=>GML:K>H?M>GNGA:IIR
$HP=HRHNLI>G=RHNKAHNKLBG:P>>D
] ABE=:K>
] E:LL
] HFFNGBMR/>KOB<>2HENGM>>K
] HFFNMBG@0K:GLIHKM:MBHG
<3 16M3 RF/RF JS6!4$SSG
S6=;;=K3">@G">C3
<5DH9F-=A9&5B5;9A9BH-<9CFM 
] !:MBG@"HH=,K>I:K:MBHG
] !Q>K<BL>
] ":FBER
] "KB>G=L
] $HNL>AHE=ABE=:K> NMB>L
] %GM>KG>M/H<B:E)>=B:,AHG>0>QMBG@
] ,:KMR
] .><K>:MBHG(>BLNK>
] .>E:MBHGLABI
] /E>>IBG@
] /IBKBMN:EBMR,K:R>K)>=BM:MBHG
] /MN=R
] 2B=>H#:F>L
] 3:M<ABG@02HK)HOB>L*>MaBQ5HNMN;>
] 3HKD:K>>K
0A>K> BL :ELH MBF> BM M:D>L ?HK <HEE>@> LMN=>GML LI>G= :=CNLMBG@ MH <HEE>@> <NEMNK> <HEE>@>
M>KFBGHEH@R :G= <HEE>@> IHEB<B>L /MN=>GML F:R G>>= MH E>:KG HK K>E>:KG AHP MH E>:KG :G= LHF>
LMN=>GML F:R G>>= MH E>:KG PA:M MA>R G>>= MH DGHP 3A:M : LMN=>GM BG MA>BK `KLM <HEE>@> L>F>LM>K
G>>=L MH DGHP F:R ;> =B_>K>GM MA:G PA:M : LMN=>GM BG MA>BK E:LM <HEE>@> L>F>LM>K G>>=L MH DGHP
"BKLM L>F>LM>K LMN=>GML F:R ;> E>:KGBG@ PA>K> <E:LLKHHFL :K> ;NBE=BG@ AHNKL :G= EH<:MBHGL ?HK
<HEE>@> K>LHNK<>L :G= >QI><M:MBHGL H? <HEE>@> LMN=>GML /MN=>GML BG MA>BK E:LM L>F>LM>K LMN=>GML F:R
;> E>:KGBG@ :;HNM :IIERBG@ ?HK MA>BK =>@K>> AHP MH <HG`KF MA>R A:O> :EE H? MA>BK K>JNBK>F>GML
<HFIE>M>= ?HK MA>BK @H:E :G= <HFF>G<>F>GM BG?HKF:MBHG 3A:M>O>K BM BL LMN=>GML F:R G>>= MH
E>:KGBMM:D>LMBF>
7F32'7;3DA@33'7;3
/HF>MBF>L BM A>EIL MH M:D> : EHHD :M RHNK MBF> :G= =BOB=> BM BGMH MPH :K>:L `Q>= MBF> :G= ?K>>
MBF> "BQ>= MBF> BL MBF> MA:M RHN A:O> <HFFBMM>= MH : <>KM:BG :K>: %M FB@AM ;> L<AHHE PHKD
K>EB@BHG K><K>:MBHG HK ?:FBER 0A>K> BL GH KB@AM HK PKHG@ MH `Q>= MBF> :G= >O>KRHG>ZL BL =B_>K>GM
/HF> I>HIE> PBEE G:MNK:EER A:O> FHK> `Q>= MBF> MA:G HMA>KL "K>> MBF> BL CNLM MA:MXBM BL ?K>>
%M <:G ;> NL>= AHP>O>K RHN P:GM MH NL> BM BMZL MBF> RHN A:O> :O:BE:;E> ?HK :<MBOBMB>L RHN >GCHR
/HF>HG> FB@AM PHKD :FIF MA>G A:O> <E:LL IFIF MA>G A:O> =BGG>K PBMA ?:FBER
IFIF LMN=R IFIF :G= MA>G A:O> ?K>> MBF> ?KHF IFIF 0:D> : EHHD :M : MRIB<:E P>>D
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
?HK RHNKL>E? $HP FN<A `Q>= MBF> =H RHN A:O> $HP FN<A ?K>> MBF> $HP FN<A `Q>= :G= ?K>>
MBF>PHNE=RHNEBD>MHA:O>
P23<B74G7<5"@5/<7H7<5/<2#@7=@7B7H7<5=/:A
0A> NGBO>KL:E <A:EE>G@> H? MBF> BL MA:M MA>K> :K> FHK> MABG@L MA:M P> P:GM MH =H :G= GHM >GHN@A
MBF>MH=HMA>F
% M:ED MH LMN=>GML ?K>JN>GMER PAH A:O> :LIBK:MBHGL =K>:FL @H:EL :G= MABG@L MA>R P:GM MH
:<<HFIEBLA /BFBE:KER % :LD LMN=>GML MH EBLM MA>BK BGM>K>LML :M MA> ;>@BGGBG@ H? >:<A H? FR <E:LL>L
:G= MA>K> BL G>O>K : LAHKM:@> H? BM>FL NM % H?M>G M:ED MH LMN=>GML PAH :K> =BL<HNK:@>= ;R MA>
E>G@MA H? MBF> BM BL M:DBG@ MA>F MH <HFIE>M> : @H:E <HFIE>MBG@ MA>BK >=N<:MBHG K>:<ABG@ MA>BK
<:K>>K @H:E ;NRBG@ : AHF> @>MMBG@ F:KKB>= >M< G= >O>KR L>F>LM>K MA>K> :K> LMN=>GML MA:M
=KHI <E:LL>L ;><:NL> MA>R A:O> M:D>G HG MHH FN<A HK MA>R :K> NG:;E> MH D>>I NI PBMA MA>BK <E:LL
PHKD ;><:NL> MA>R A:O> HMA>K <HFFBMF>GML :G= BGM>K>LML 0A>K> BL GHMABG@ PKHG@ PBMA HMA>K
<HFFBMF>GML HK BGM>K>LML +G MA> <HGMK:KR MA>R F:R ;KBG@ CHR :G= ?NE`EEF>GM ;NM =H MA>R @>M BG
MA> P:R H? RHNK >=N<:MBHG:E @H:EL "HK BGLM:G<> B? RHN P>K> MH =KHI : <E:LL ;><:NL> RHN K>JNBK>=
LNK@>KR G>>=>= MH M:D> <:K> H? : LB<D ?:FBER F>F;>K HK RHNK ;HLL BG<K>:L>= RHNK PHKD AHNKL
MAHL> F:R ;> BFIHKM:GM :G= O:EB= K>:LHGL MH =H LH %? RHN P>K> MH =KHI : <E:LL ;><:NL> RHN P:GM>=
MH ;BG@> P:M<A #K>RZL G:MHFR IE:R FHK> )BG><K:?M HK LI>G= FHK> MBF> HG ":<>;HHD 0PBMM>K
HK %GLM:@K:F RHN F:R A:O> FHK> =Bb<NEMR CNLMB?RBG@ MA:M =><BLBHG ;NM BM BL LMBEE RHNK =><BLBHG MH
F:D> /HF>MBF>L LMN=>GML =H GHM K>:EBS> MA> IHP>K MA>R A:O> HO>K MA> =><BLBHGL MA>R F:D> :G=
AHPMAHL>=><BLBHGL<:G>_><MMA>BK:;BEBMRMH:<<HFIEBLAMA>@H:ELMA>RL>M?HKMA>FL>EO>L
% :F GH >Q<>IMBHG % A:O> : EHG@ EBLM H? MABG@L MA:M % P:GM MH :<<HFIEBLA MH=:R MHFHKKHP G>QM
P>>D G>QM FHGMA G>QM R>:K :G= BG FR EB?>MBF> % A:O> F:GR FHK> MABG@L HG FR EBLM MH <HFIE>M>
MA:GMA>MBF>MA:M%PBEE;>:EBO>
P23<B74G7<5=/:A
.><>GMER MA>K> A:L ;>>G : EHM H? :MM>GMBHG @BO>G MH MA> BFIHKM:G<> H? <HEE>@> LMN=>GML B=>GMB?RBG@
MA>BK >=N<:MBHG:E H;C><MBO> :G= MA>BK F:CHK :L LHHG :L IHLLB;E> /HF> AB@A L<AHHEL :K> PHKDBG@
PBMA LMN=>GML MH B=>GMB?R MA>L> @H:EL >:KEB>K %? RHN :K> BGM>K>LM>= BG <:K>>K B=>GMB`<:MBHG RHN F:R
PBLA MH EHHD BGMH : <:K>>K =><BLBHG F:DBG@ <HNKL> H_>K>= ;R RHNK <HEE>@> 5HN F:R :ELH PBLA MH
F:D> :G :IIHBGMF>GM PBMA : <HNGL>EHK :G=HK OBLBM RHNK <HEE>@>ZL :K>>K >GM>K :G=HK `G= :
<:K>>K:=OB<>;HHDLN<A:L !*#61.14+5"174#4#%*76' ;R.B<A:K=*HEE>L
#H:E B=>GMB`<:MBHG BL : P:R MH :EEHP NL MH D>>I MK:<D H? PA:M P> PHNE= EBD> MH :<<HFIEBLA :L
P>EE :L : F><A:GBLF MH F>:LNK> AHP LN<<>LL?NE P> :K> :M :<AB>OBG@ HNK @H:EL 0ABL OB=>H @BO>L
FH=>KGIK:<MB<:E:=OB<>:;HNMMA>?NMNK><:K>>KF:KD>M
<5DH9F-=A9&5B5;9A9BH-<9CFM 
)723= Success in the New EconomySuccess in the New Economy3D7<:3;7<5/<2@7/<, /@A67B@CA
=::353
/=A9C 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
2C1/B7=</:#:/<<7<5
0A>K>A:L:ELH;>>G?H<NL>=:MM>GMBHGHGMA>BFIHKM:G<>H?>=N<:MBHG:EIE:GGBG@
!=N<:MBHG IE:GL =>O>EHI>= PBMA : <HNGL>EHK A>EI LMN=>GML =>M>KFBG> :G= >QIEHK> : IKH@K:F H?
LMN=R:G=A:O>IKHO>GMH?:<BEBM:M>LMN=>GMLN<<>LL
=
/MN=>GML <:G ?HEEHP >=N<:MBHG:E IE:GL EBD> : KH:= F:I LH MA>R <:G L>> AHP MH <HFIE>M> K>JNBK>=
<E:LL>LBGMA>FHLM>b<B>GM:G=EH@B<:EHK=>K;:L>=HGMA>BK>=N<:MBHG:E@H:EL
!=N<:MBHG:E IE:GGBG@ F:R :II>:K MH ;> LBFIE> B=>GMB?RBG@ MA> IKH@K:F H? LMN=R :G= MA>G
`@NKBG@HNMPAB<A<HNKL>L:K>K>JNBK>=MH<HFIE>M>BM
:*912,;,8=:<.;A8/:.0#<8=9"8+817;<87.*7- :2A*-*:;12721*958<8/$1." :8=9
$HP>O>K BM <:G H?M>G ;> >QMK>F>ER <HFIE>Q ):GR LMN=>GML A:O> FNEMBIE> @H:EL +G> LMN=>GM
FB@AM ;> BGM>K>LM>= BG FHK> MA:G HG> H? MA>L> @H:EL >:KG FNEMBIE> =>@K>>L MK:GL?>K MH : ?HNK
=3 $SS$RRS$$7#O39"S,,S$SS
$RRS$: J+RRS$SS$RRS$,,
-K34LL3SSRRS33LL;LSLG
LINII<G<CG<=IS3J=;<=K3
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
R>:K <HEE>@> HK NGBO>KLBMR IK>I:K> ?HK @K:=N:M> L<AHHE LM:KM : FBGHK HK <HFIE>M> K>JNBK>F>GML ?HK
L>O>K:EMK:GL?>KL<AHHEL
/MN=>GML :ELH A:O> =B_>K>GM LMK>G@MAL /HF> FB@AM ;> LMKHG@ BG !G@EBLA /HF> LMN=>GML >Q<>E BG
):MA +MA>KL FB@AM ;> LMKHG@ BG /<B>G<> KML :G= $NF:GBMB>L HK /H<B:E /<B>G<>L !=N<:MBHG:E
IE:GGBG@ M:D>L MA>L> LMK>G@MAL :G= P>:DG>LL>L BGMH <HGLB=>K:MBHG /MN=>GML :K> >G<HNK:@>= MH
M:D> !G@EBLA :G= ):MA >:KER
>
:L LM:MBLMB<L LAHP MA:M MAHL> LMN=>GML PBEE ;> FHK> LN<<>LL?NE NM MA>
HK=>K H? <HNKL>L M:D>G ?HK LMN=>GML PBMA =B_>K>GM LMK>G@MAL <HNE= O:KR >O>G B? MA> LMN=>GML A:O> MA>
L:F>@H:E0A>K>BLGHM:HG>LBS>`ML:EELHENMBHG
!=N<:MBHG:E IE:GGBG@ F:R ;> ?NKMA>K <HFIEB<:M>= ;R :O:BE:;BEBMR H? <HNKL>L : <HEE>@> HK
NGBO>KLBMR H_>KL MA> IKH<>LL BG PAB<A : LMN=>GM F:R ;> :;E> MH K>@BLM>K ?HK MAHL> <HNKL>L :G=
PAB<A L><MBHGL `M BGMH LMN=>GMLZ L<A>=NE>L 0K:GL<KBIM >O:EN:MBHGL B? LMN=>GML A:O> :MM>G=>=
IK>OBHNL <HEE>@>L HK NGBO>KLBMB>L :LL>LLF>GM H? :IIKHIKB:M> !G@EBLA HK ):MA E>O>EL :G= IK>K>JNBLBM>
<E>:K:G<>IKH<>=NK>LF:R:ELH<HGMKB;NM>MHMA><A:EE>G@>H?>b<B>GM>=N<:MBHG:EIE:GGBG@
"NKMA>K LMN=>GML A:O> =B_>K>GM IKBHKBMB>L /HF> LMN=>GML P:GM MH <HFIE>M> MA>BK @H:EL BG :
<>KM:BG :FHNGM H? MBF> +MA>K LMN=>GML F:R A:O> MH PHKD ?NEEMBF> :G= M:D> ?>P>K NGBML >:<A
L>F>LM>K !=N<:MBHG:E IE:GGBG@ FB@AM :ELH <HGLB=>K LMN=>GM BGM>K>LML LDBEEL O:EN>L I>KLHG:EBMR
HK LMN=>GM LNIIHKM K>?>KK:EL #K:=> IHBGM :O>K:@> K>JNBK>F>GML ?HK : LMN=>GMZL =>@K>> MK:GL?>K HK
LI><B`<IKH@K:FL:K>:ELH<HGLB=>K>=BG>=N<:MBHG:EIE:GGBG@
?
3ABE> LHF> LMN=>GML F:R DGHP PA:M MA>R P:GM MH =H ?HK MA>BK <:K>>K :G= A:O> DGHPG LBG<>
MA>R P>K> `O> R>:KL HE= F:GR LMN=>GML :K> NGLNK> H? PA:M MA>R P:GM MH =H +?M>G LMN=>GML
:K>GZM LNK> AHP MH <AHHL> MA>BK F:CHK F:CHK BL :G :K>: H? <HG<>GMK:MBHG BG PAB<A LMN=>GML PBEE
LI><B:EBS> :M : <HEE>@> HK NGBO>KLBMR HFIE>MBG@ : F:CHK K>JNBK>L I:LLBG@ <HNKL>L BG MA> <AHL>G
<HG<>GMK:MBHG :G= =>@K>>L :K> :P:K=>= MA:M <HKK>E:M> PBMA LMN=>GMLZ F:CHKL "HK BGLM:G<> FR
;:<A>EHKZL=>@K>>BG/H<BHEH@RF>:GLMA:MFRF:CHKP:L/H<BHEH@R
%M BL +' MH GHM DGHP PA:M F:CHK RHN P:GM MH INKLN> PA>G RHN LM:KM <HEE>@> ;NM % LN@@>LM
<:K>?NE K>L>:K<A MH EHHD BGMH HIMBHGL :G= G:KKHP MA>F =HPG MH : LAHKM EBLM H? MPH HK MAK>> 0:EDBG@
PBMA : <HNGL>EHK OBLBMBG@ RHNK <HEE>@>ZL :K>>K >GM>K HK M:DBG@ : <HEE>@> LN<<>LL <E:LL F:R A>EI
PBMARHNK=><BLBHGL
/>O>GMR I>K<>GM H? LMN=>GML <A:G@> MA>BK F:CHK :M E>:LM HG<> PABE> BG <HEE>@> :G= FHLM PBEE
<A:G@> MA>BK F:CHK :M E>:LM MAK>> MBF>L %M BL BFIHKM:GM ?HK LMN=>GML MH `G= MA> ;>LM F:CHK ?HK MA>F
;NMMA>L><A:G@>LF:RF:D>IK>OBHNL>=N<:MBHG:EIE:GLH;LHE>M>
0A>LBFIE><HG<>IM:G=KH:=F:IH?M>G>G=LNIEHHDBG@FHK>EBD>MABL
>3 /SR636'S6$36PRS6!3 3J<BBCK3.SRG
SRSS33!3J3K6RRSMSSSRS
RS4)SSRRS6<;;6C>HD;3,S4
G'
?3 ,RS6'63 -+$S&S$S,SS$SG
S$RRS$3J$SS4-"RS,$SS$RRS$K3
<5DH9F-=A9&5B5;9A9BH-<9CFM 
:*912,;,8=:<.;A8/:.0#<8=9"8+817;<87.*7- :2A*-*:;12721*958<8/$1." :8=9
N> MH MA> <HFIEB<:M>= G:MNK> H? >=N<:MBHG:E IE:GGBG@ : <HNGL>EHK <:G IKHOB=> @K>:M O:EN> ?HK
LMN=>GML PBMA :LLBLM:G<> BG <K>:MBG@ :G >=N<:MBHG:E IE:G LI><B`<:EER ?HK >:<A BG=BOB=N:E LMN=>GM %?
RHN A:O> GHM =HG> LH :EK>:=R % AB@AER K><HFF>G= RHN F>>M PBMA : <HNGL>EHK :G= <HGMBGN> MH =H
LHHG:?K>JN>GM;:LBLHG<>I>KL>F>LM>KB?IHLLB;E>
=E'=&B/@B%3/167<5,=C@=/:A
3BMAHNM @H:EL P> :K>GZM LNK> PA:M P> :K> MKRBG@ MH :<<HFIEBLA :G= MA>K> BL EBMME> P:R H? DGHPBG@
B? P> :K> :<<HFIEBLABG@ :GRMABG@ %? RHN :EK>:=R A:O> : @H:EL>MMBG@ IE:G MA:M PHKDL P>EE ?HK RHN
D>>I BM %? RHN =HGZM A:O> @H:EL HK A:O> =Bb<NEMR PHKDBG@ MHP:K=L MA>F % >G<HNK:@> RHN MH MKR
MABL
):D> : EBLM H? :EE MA> MABG@L RHN P:GM MH :<<HFIEBLA ?HK MA> G>QM =:R $>K> BL : L:FIE> MH =H EBLM
] #HMH@KH<>KRLMHK>
] #HMH<E:LL
] ,:R;BEEL
] !Q>K<BL>
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
] /H<B:EF>=B:
] /MN=R
] !:MENG<APBMA?KB>G=
] 3HKD
] 3:M<A02
] 0>QM?KB>G=L
5HNK EBLM F:R ;> LBFBE:K MH MABL HG> HK BM F:R ;> <HFIE>M>ER =B_>K>GM %M BL RHNKL LH RHN <:G F:D>
BM AHP>O>K RHN P:GM H GHM ;> <HG<>KG>= :;HNM MA> E>G@MA H? RHNK EBLM HK MA> GNF;>K H? BM>FL
HGBM
="23!#,%2!1%3().'2!0%12/.2%%26(%.(%3!+%2()2%8%2/@()2'/!,>
P#CG9D<CGGA5B
5HN GHP A:O> MA> ?K:F>PHKD ?HK PA:M RHN P:GM MH :<<HFIEBLA MA> G>QM =:R $:G@ HG MH MA:M EBLM
3>PBEENL>BM:@:BG
*HP M:D> : EHHD :M MA> NI<HFBG@ P>>D MA> G>QM FHGMA :G= MA> G>QM R>:K ):D> : EBLM H? PA:M
RHN PHNE= EBD> MH :<<HFIEBLA BG >:<A H? MAHL> MBF> ?K:F>L %? RHN P:GM MH @H C>M LDBBG@ MK:O>E MH
!NKHI> HK @>M : ;:<A>EHKZL =>@K>> 3KBM> BM =HPG ,:R :MM>GMBHG MH =>M:BE 0A> FHK> =>M:BE PBMABG
RHNK@H:ELMA>;>MM>KLDRHNKL>E?PA:MBLG><>LL:KRMH<HFIE>M>RHNK@H:EL
3BMA MAHL> EBLML <HFIE>M>= M:D> BGMH <HGLB=>K:MBHG AHP MA> ;>LM @H:EL :K> <K>:M>= HFFHGER
<:EE>= [/).0\ @H:EL BM BL H?M>G A>EI?NE MH :IIER <KBM>KB: MH RHNK @H:EL /).0 BL :G :<KHGRF
?HK /I><B`< )>:LNK:;E> MM:BG:;E> .>:EBLMB< :G= 0BF>ER ,>K?HKF : P>; L>:K<A HG MA> %GM>KG>M MH
`G= HNM FHK> :;HNM [/).0\ @H:EL K> RHNK @H:EL /).0 @H:EL "HK >Q:FIE> : @>G>K:E @H:E
PHNE= ;> [<AB>O> :G YZ BG FR :G:MHFR <E:LL\ NM : LI><B`< @H:E PHNE= L:R [% PBEE L<A>=NE>
:G= LMN=R ?HK HG> AHNK >:<A =:R :M MA> EB;K:KR ?KHF IFIF ?HK FR :G:MHFR <E:LL BG HK=>K MH
:<AB>O>:GYZ:G=A>EIF>@:BG:=FBLLBHGMHGNKLBG@L<AHHE\
*HP K>OBL> RHNK EBLML ?HK MA> MABG@L RHN P:GM MH :<<HFIEBLA BG MA> G>QM P>>D FHGMA :G= R>:K
;R :IIERBG@ MA> /).0 @H:E M><AGBJN>L 0A> ;>LM @H:EL :K> NLN:EER <K>:M>= HO>K MBF> :G= MAKHN@A
MA> IKH<>LL H? FHK> MA:G HG> :MM>FIM LH LI>G= LHF> MBF> <HFIE>MBG@ MABL H GHM >QI><M MH A:O>
[I>K?><M\ @H:EL HG RHNK `KLM :MM>FIM ELH D>>I BG FBG= MA:M RHNK @H:EL =H GHM A:O> MH ;> L>M BG
LMHG> 0A>R <:G <A:G@> G= LBG<> HO>K MBF> MABG@L PBEE <A:G@> :KHNG= RHN RHNK @H:EL LAHNE=
:ELH<A:G@>
GHMA>K BFIHKM:GM :LI><M H? @H:E L>MMBG@ BL :<<HNGM:;BEBMR /HF>HG> <HNE= A:O> @K>:M BGM>GMBHGL
:G= L>M NI /).0 @H:EL ?HK :EE H? MA> MABG@L MA>R P:GM MH :<<HFIEBLA NM B? MA>R =HGZM PHKD
<5DH9F-=A9&5B5;9A9BH-<9CFM 
MHP:K=L MAHL> @H:EL :G= <HFIE>M> MA>F MA>R EBD>ER PHGZM ;> LN<<>LL?NE %M BL >:LR MH L>> B? P> :K>
:<<HNGM:;E> BG LAHKMM>KF @H:EL 0:D> MA> =:BER MH=H EBLM ?HK >Q:FIE> $HP F:GR H? MA> MABG@L
MA:M RHN L>M HNM MH :<<HFIEBLA =B= RHN :<<HFIEBLA $HP F:GR P>K> MA> FHLM BFIHKM:GM MABG@L
HG MA:M EBLM 3>K> RHN L:MBL`>= 3>K> RHN LN<<>LL?NE B= RHN E>:KG :GRMABG@ ?HK ?NMNK> IE:GGBG@
HK MBF> F:G:@>F>GM 3HNE= RHN =H :GRMABG@ =B_>K>GMER 0A> :GLP>KL MH MA>L> JN>LMBHGL A>EI
=>M>KFBG>:<<HNGM:;BEBMR
(HG@M>KF @H:EL :K> FHK> =Bb<NEM MH <K>:M> :G= BM BL FHK> <A:EE>G@BG@ ?HK NL MH LM:R
:<<HNGM:;E> 0ABGD H? *>P 5>:KZL .>LHENMBHGL #RFL :K> I:<D>= :G= F:LL =B>MBG@ ;>@BGL BG
&:GN:KR R ):K<A F:GR @RFL :K> >FIMR :G= =B>ML A:O> ?:BE>= 3AR ><:NL> BM BL >:LB>K MH <K:LA
=B>M :G= >Q>K<BL> K>@NE:KER ?HK LAHKM I>KBH=L H? MBF> MA:G BM BL MH F:D> EHG@M>KF EB?>LMRE> :G=
A:;BMN:E<A:G@>L
.:G=R ,:NL<A P:L DGHPG ?HK ABL E><MNK> <:EE>= [0A> (:LM (><MNK>\ GHP : ;>LML>EEBG@ ;HHD
B:@GHL>= PBMA M>KFBG:E I:G<K>:MB< <:G<>K ,:NL<A I:LL>L :EHG@ LHF> H? ABL B=>:L ?HK ;>LM LMK:M>@B>L
?HK NL>L H? MBF> BG ABL E>LL>K DGHPG E><MNK> HG MBF> F:G:@>F>GM % =HGZM ;>EB>O> MA>K> BL LHF>HG>
;>MM>K LNBM>= MH M>:<A :;HNM MBF> F:G:@>F>GM MA:G LHF>HG> MKRBG@ MH F:QBFBS> MA>BK E:LM R>:K
FHGMALP>>DL:G==:RLH?MA>BKEB?>
)723= Time ManagementTime Management%/<2G#/CA16
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
"@5/<7H7<5=/:A
,E:<> :EE H? RHNK @H:EL IE:GL IKHC><ML :G= B=>:L BG HG> IE:<> 3AR %M IK>O>GML <HG?NLBHG 3>
H?M>G A:O> FHK> MA:G HG> MABG@ @HBG@ HG :M : MBF> :G= BM F:R ;> >:LR MH ;><HF> =BLMK:<M>= :G=
EHL> LB@AM H? HG> HK FHK> H? HNK @H:EL B? P> <:GGHM >:LBER :<<>LL MA>F K>:M> : @H:E GHM>;HHD
@H:E IHLM>K @H:E <HFINM>K `E>XHK@:GBS> BM :GR P:R RHN P:GMXCNLM F:D> LNK> BM BL HK@:GBS>= :G=
MA:MRHNK@H:ELLM:RBGHG>IE:<>
CB6=@JA&B=@G
\ @95FB98 H<=G @9GGCB H<9 <5F8 K5M ,CA9 M95FG 5;C \ IG98 GH=7?M BCH9G 5@@ H<9 H=A9 \ H<=B? H<9M 5F9 5 ;F95H
=BJ9BH=CB 5B8 69@=9J9 H<9M <9@D A9 GH5M CF;5B=N98 IH CB9 85M K<9B \ K5G @CC?=B; :CF 5 D<CB9 BIA69F \
F95@=N98 H<5H \ <58 GH=7?M BCH9G 5H KCF? GH=7?M BCH9G 5H <CA9 5B8 GH=7?M BCH9G =B AM 75F \ <58 GC A5BM GH=7?M
BCH9G =B AI@H=D@9 D@579G H<5H \ 7CI@8BSH 95G=@M XB8 H<9 =B:CFA5H=CB \ B99898 J9FMCB9 <5G 5 DF9:9F9B79 C:
<CK 7@95B CF A9GGM <=G CF <9F KCF? 5F95 =G 6IH =: MCISF9 GD9B8=B; H=A9 @CC?=B; :CF H<=B;G =H =G BCH H<9 69GH
IG9 C: MCIF H=A9 \ BCK ?99D 5@@ C: AM GH=7?M BCH9G =B CB9 D@579 IFH<9F \ 5@K5MG IG9 CB9 5B8 CB@M CB9 DC=BH
C: 9BHFM :CF 5BMH<=B; H<5H ;C9G CB AM 75@9B85F \ <5J9 5@GC :CIB8 A5BM 58J5B79G =B H97<BC@C;M HC 5GG=GH
K=H<CF;5B=N5H=CBC:=B:CFA5H=CBIH\GH=@@IG9D<MG=75@GH=7?MBCH9G
(A3'316<=:=5GB=G=C@2D/<B/53
/H?MP:K> :G= :IIL :K> GHP :O:BE:;E> MH A>EI PBMA HK@:GBS:MBHG :G= IKH=N<MBOBMR A><D HNM
!O>KGHM>+G>*HM>HK/MB<DB>L
@3/9=/:A7<B=&;/::&B3>A
% :LD MABL JN>LMBHG H? LMN=>GML BG FR <E:LL>L %? P> =><B=>= MH=:R MA:M HNK @H:E P:L MH KNG :
F:K:MAHG :G= MA>G P>GM HNM MHFHKKHP :G= MKB>= MH KNG HG> PA:M PHNE= A:II>G /MN=>GML
K>LIHG= PBMA CHDBG@ER [% PHNE= =B>\ HK [% <HNE=GZM =H BM\ $HP <HF> ><:NL> P> FB@AM G>>=
MK:BGBG@ KNGGBG@ LAH>L LNIIHKM DGHPE>=@> >QI>KB>G<> :G= <HG`=>G<>XH?M>G MABL <:GGHM ;>
=HG> HO>KGB@AM NM BGLM>:= H? @BOBG@ NI :G= MABGDBG@ BMZL BFIHLLB;E> ;><:NL> MA> M:LD BL MHH ;B@
?HK PAB<A MH IK>I:K> BMZL BFIHKM:GM MH =>O>EHI LF:EE>K LM>IL HK M:LDL MA:M <:G ;> LM:KM>= :G= PHKD>=
HG BFF>=B:M>ER +G<> :EE H? MA> LF:EE LM>IL :K> <HFIE>M>= RHNZEE ;> HG RHNK P:R MH :<<HFIEBLABG@
RHNK;B@@H:EL
3A:MLM>ILPHNE=RHNG>>=MH<HFIE>M>MA>?HEEHPBG@;B@@H:EL
] NRBG@:AHNL>
] #>MMBG@F:KKB>=
] MM:BGBG@:;:<A>EHKZL=>@K>>
] >LMKHRBG@MA> >:MA/M:K
<5DH9F-=A9&5B5;9A9BH-<9CFM 
] (HLBG@P>B@AM
#@7=@7B7H7<5=/:A
3AR BL BM BFIHKM:GM MH IKBHKBMBS> (>MZL EHHD ;:<D :M MA> L:FIE> EBLM %? % LI>GM :EE FR MBF>
<HFIE>MBG@ MA> `KLM L>O>G MABG@L HG MA> EBLM ;NM MA> E:LM MAK>> P>K> MA> FHLM BFIHKM:GM MA>G %
PHNE=GHMA:O>IKBHKBMBS>=O>KRP>EE
%M PHNE= A:O> ;>>G ;>MM>K MH IKBHKBMBS> MA> EBLM :?M>K <K>:MBG@ BM :G= MA>G PHKD HG MA> BM>FL MA:M
:K>FHLMBFIHKM:GM`KLM5HNFB@AM;>LNKIKBL>=:MAHPF:GRLMN=>GML?:BEMHIKBHKBMBS>
?M>KIKBHKBMBSBG@MA>L:FIE>EBLMGHPEHHDLEBD>MABL
] #HMH<E:LL
] 3HKD
] /MN=R
] ,:R;BEEL
] !Q>K<BL>
] !:MENG<APBMA?KB>G=
] #HMH@KH<>KRLMHK>
] 0>QM?KB>G=L
] /H<B:EF>=B:
] 3:M<A02
+G> P:R MH IKBHKBMBS> BL MH @BO> >:<A M:LD : O:EN> 0:LD K>E:M>= MH @H:EL %FIHKM:GMX$:O>
MH =H HNE= IHLMIHG> 0A>G F:I HNM RHNK =:R LH MA:M PBMA MA> MBF> :O:BE:;E> MH RHN PHKD
HG RHNK @H:EL `KLM 5HNZEE GHP L>> ;>EHP HNK EBLM A:L MA>  E:;>EL 5HN PBEE :ELH GHMB<> : ?>P
BM>FL A:O> <A:G@>= IHLBMBHGL ;:L>= HG MA>BK E:;>E '>>I BG FBG= MA:M =B_>K>GM I>HIE> PBEE E:;>E
MABG@L =B_>K>GM P:RL ;><:NL> P> :EE A:O> =B_>K>GM @H:EL :G= =B_>K>GM MABG@L MA:M :K> BFIHKM:GM MH
NL 0A>K> BL GH KB@AM HK PKHG@ A>K> ;NM BM BL I:K:FHNGM MH DGHP PA:M BL BFIHKM:GM MH RHN :G= MH
DGHP AHP RHN PBEE LI>G= MA> F:CHKBMR H? RHNK MBF> PBMA MA> MABG@L MA:M :K> MA> FHLM BFIHKM:GM
MHRHN
#HMH<E:LL
/MN=R
!Q>K<BL>
3HKD
,:R;BEEL
#HMH@KH<>KRLMHK>
!:MENG<APBMA?KB>G=
0>QM?KB>G=L
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
/H<B:EF>=B:
3:M<A02
=B63 =ABP;>=@B/<B'67<5A7@AB
5HN =H GHM A:O> MH ;> : L<B>GMBLM MH K>:EBS> MA:M LI>G=BG@ RHNK MBF> HG [\ M:LDL BGLM>:= H? [\
M:LDL PHGZM :EEHP RHN MH <HFIE>M> RHNK @H:EL 0A> >:LB>LM MABG@L MH =H :G= MA> HG>L MA:M M:D> MA>
E>:LM :FHNGM H? MBF> :K> H?M>G PA:M I>HIE> =H `KLM A><DBG@ ":<>;HHD HK M>QMBG@ FB@AM HGER
M:D> : ?>P FBGNM>L ;NM =HBG@ BM IKBHK MH LMN=RBG@ F>:GL P>ZK> LI>G=BG@ MBF> PBMA : [\ :<MBOBMR
;>?HK>:G[\:<MBOBMR
,>HIE> EBD> MH <A><D MABG@L H_ MA:M MA>R A:O> =HG> %M ?>>EL @HH= NM =HGZM <HG?NL> IKH=N<MBOBMR
PBMA :<<HFIEBLAF>GM H? M:LDL MA:M :K>GZM BFIHKM:GM 5HN <HNE= A:O> : EHG@ EBLM H? MABG@L MA:M RHN
<HFIE>M>=;NMB?MA>R:K>GZMBFIHKM:GMMHRHNBMIKH;:;ERP:LGZMMA>;>LMNL>H?RHNKMBF>
,>K?HKF :G BGM>KG>M L>:K<A ?HK [0BF> ):G:@>F>GM ):MKBQ BF:@>L\ 0A> F:MKBQ :ELH K>?>KK>=
MH BG MA> .:G=R ,:NL<A OB=>H LAHPL AHP MH <:M>@HKBS> RHNK M:LDL :G= PBEE A>EI IKBHKBMBS> RHNK
@H:EL M:LDL :G= :LLB@GF>GML 0:D> : EHHD :M MA> F:MKBQ :G= JN:=K:GML :G= B=>GMB?R PAB<A JN:=K:GM
RHNK:<MBOBMB>LPHNE=?:EEBGMH
-N:=K:GM%0A>JN:=K:GMH?G><>LLBMR%FIHKM:GM:G=1K@>GM
+GER <KBLBL :<MBOBMB>L LAHNE= ;> A>K> %? RHN A:O> BG<EN=>= >Q:FL :G= I:I>KL A>K> RHN :K>
IKH;:;ER GHM :EEHPBG@ RHNKL>E? >GHN@A MBF> MH ?NEER IK>I:K> %? RHN <HGMBGN> :M MABL I:<> RHN
<HNE=;NKGHNM
-N:=K:GM%%0A>JN:=K:GMH?JN:EBMR:G=I>KLHG:EE>:=>KLABI%FIHKM:GM:G=*HM1K@>GM
0ABL BL PA>K> RHN =>`G> RHNK IKBHKBMB>L 3A:MZL BFIHKM:GM BG RHNK EB?> 3A:M PBEE D>>I RHN
;:E:G<>= "HK >Q:FIE> RHN F:R DGHP MA:M @HH= GNMKBMBHG LE>>I K><K>:MBHG :G= F:BGM:BGBG@
A>:EMAR LH<B:E K>E:MBHGLABIL :K> BFIHKM:GM ;NM =H RHN <HGL<BHNLER F:D> MBF> ?HK MA>F BG RHNK =:BER
HK P>>DER KHNMBG> -N:=K:GM %% BG<EN=>L RHNK [\ @H:EL ):G:@BG@ RHNK EB?> :G= MA> EB?>LMRE> PBEE
A>EIRHNF:G:@>RHNKMBF>
-N:=K:GM%%%0A>JN:=K:GMH?=><>IMBHG*HM%FIHKM:GM:G=1K@>GM
3ABE> RHN F:R ?>>E MA:M :<MBOBMB>L LN<A :L M>QMBG@ G>>= RHNK :MM>GMBHG KB@AM :P:R MHH FN<A
MBF> LI>GM HG -N:=K:GM %%% :<MBOBMB>L <:G L>KBHNLER K>=N<> O:EN:;E> LMN=R MBF> 0ABL F:R E>:O> RHN
?>>EBG@INEE>=BGMHHF:GR=BK><MBHGL:MHG<>
-N:=K:GM%20A>JN:=K:GMH?P:LM>*HM%FIHKM:GM:G=*HM1K@>GM
-N:=K:GML MAK>> :G= ?HNK BG<EN=> RHNK [\ @H:EL %? RHNZK> LI>G=BG@ F:GR AHNKL HG -N:=K:GM
%2 :<MBOBMB>L RHNZK> >BMA>K A:OBG@ : @K>:M =>:E H? ?NG HK LI>G=BG@ : EHM H? MBF> IKH<K:LMBG:MBG@
.>F>F;>K MA> H;C><MBO> BL ;:E:G<> 5HN F:R GHMB<> % IE:<>= LH<B:E F>=B: :G= M>QMBG@ BGMH MABL
<:M>@HKR 5HN <HNE= F:D> : <:L> MA:M LH<B:E F>=B: M>QMBG@ *>MaBQ :G= 5HNMN;> :K> BFIHKM:GM
;NM AHP H?M>G :K> MA>R NK@>GM 1EMBF:M>ER BM BL NI MH RHN MH =><B=> PA:M BL BFIHKM:GM :G=
NK@>GM ?HK RHNKL>E? ;NM ?HK MA> <HGM>QM H? MABL M>QM;HHD RHNK <E:LL>L :LLB@GF>GML IK>I:K:MBHG :G=
LMN=RBG@LAHNE=:EFHLMNGBO>KL:EER;>FHK>NK@>GM:G=BFIHKM:GMMA:GLH<B:EF>=B::G=M>QMBG@
$>K>BL:G:=:IM>=O>KLBHGH?MA>F:MKBQPBMA:G>FIA:LBLHGJN:=K:GM%%
<5DH9F-=A9&5B5;9A9BH-<9CFM 
A"8:A+8?6*7C?7?8:4 =+52,86*27
1<<9;,86687;?2426.-2*8:0?27-.@919,=:2-
=<1:CA7=<
):G:@BG@ MBF> P>EE <HF>L =HPG MH MPH MABG@L +G> BL B=>GMB?RBG@ :G= MA>G IKBHKBMBSBG@ @H:EL
:G= MA> HMA>K BL A:OBG@ MA> =BL<BIEBG> MH ;> :;E> MH PHKD MHP:K=L :<<HFIEBLABG@ MA>F 3> :EE A:O>
MA> L:F> :FHNGM H? MBF> BG : =:R P>>D FHGMA :G= R>:K R>M LHF> I>HIE> :K> :;E> MH :<<HFIEBLA
FHK> MA:G HMA>KL 3AR BL MABL +?M>G BM BL ;><:NL> MA>R :K> :;E> MH L>M @H:EL IKBHKBMBS> MA>F :G=
MA>GPHKDHGMA>FK>E>GME>LLER:G=>_><MBO>ERNGMBEMA>R:K><HFIE>M>
713<A3A/<2BB@70CB7=<A
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2
+C58A5D;F5D<=7GIG98K=H<D9FA=GG=CB
!F5D<=7G7CIFH9GMC:!F9;,HCID+C6#C<BGHCB95B8)F=M585FG<=B=<5D@CHC:-<9+)!FCID
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
@@F=;<HGF9G9FJ987CBH9BH
+5B8M )5IG7< %97HIF9 -=A9 &5B5;9A9BH IH<CF98 6M 5FB9;=9 &9@@CB .B=J9FG=HM %C75H98
5H <HHDKKKMCIHI697CAK5H7<JC-I;>GGE(- %=79BG9 @@ +=;<HG +9G9FJ98 %=79BG9 -9FAG
,H5B85F82CI-I69@=79BG9
,I779GG =B H<9 '9K 7CBCAM %C75H98 5H <HHDGJ=A9C7CA %=79BG9 @@ +=;<HG +9G9FJ98
<5DH9F-=A9&5B5;9A9BH-<9CFM 
<5DH9F0CF8GC:0=G8CA-=A9\GCB
2CIF,=89
Christopher L. Hockey
0A>K> % P:L A:OBG@ CNLM >:M>G =BGG>K :G= K>:EBSBG@ MA:M % A:= E>LL MA:G MP>GMR?HNK AHNKL MH @H
;>?HK> FR <:ILMHG> I:I>K P:L =N> ?HK FR $BLMHKR H? ?KB<: <E:LL 0ABL I:I>K P:L MA> HGER @K:=>
?HK MA> <E:LL :G= :EE % A:= =HG> P:L LHF> K>L>:K<A % LMBEE A:= MABKMR I:@>L MA:M G>>=>= MH ;> PKBMM>G
$HPP:L%@HBG@MH@>MMABLI:I>K=HG>
% <:F> MH MA> K>:EBS:MBHG MA:M % P:L @HBG@ MH A:O> MH LDBI LHF> <E:LL>L :G= PHKD MAKHN@A MA>
GB@AM % D>IM FR KHHFF:M> NI PBMA MA> <EB<D <E:<D H? MA> D>R;H:K= :G= PHKD>= MAKHN@A MA> GB@AM
PBMA ;K>:DL HGER MH K>IE>GBLA MA> <:_>BG> BG FR LRLM>F )HKGBG@ <:F> :G= % LMBEE A:= PHKD MH =H
% <HGM:<M>= FR HMA>K IKH?>LLHKL E>MMBG@ MA>F DGHP MA:M LHF>MABG@ <:F> NI :G= % PHNE=GZM ;>
BG <E:LL 0A:GD?NEER % P:L BG @HH= LM:G=BG@ BG FR HMA>K <E:LL>L :G= <HNE= :_HK= MH FBLL HG> <E:LL
% LGN<D BG : MP>GMR FBGNM> G:I :G= D>IM PHKDBG@ % `G:EER `GBLA>= :;HNM MABKMR FBGNM>L ;>?HK>
MA> =>:=EBG> !QA:NLM>= :G= GHM M>KKB;ER IKHN= H? FRL>E? % MKN=@>= FR P:R MH <E:LL MH =KHI H_ MA>
I:I>K :G= <HFFBMM>= MH G>O>K PHKDBG@ EBD> MABL :@:BG ?M>K :EE MA>K> P:L : LF:EE EBD>EBAHH= MA:M
% PHNE= @>M : =><>GM @K:=> % P:L AHIBG@ ?HK CNLM : MH D>>I FR #, K>LI><M:;E> % P>GM ;:<D
MH FR KHHF :G= LE>IM ?HK : EHG@ MBF> %F:@BG> FR :F:S>F>GM PA>G % K><>BO>= FR @K:=> ?HK MA>
I:I>K :G= NEMBF:M>ER MA> <E:LL :G= MA>K> P:L :G  LM:KBG@ F> ;:<D BG MA> ?:<> $HP <HNE= MABL
;>IHLLB;E>
)R >QI>KB>G<> BEENLMK:M>L : O>KR BFIHKM:GM E>LLHG >LM IK:<MB<>L =H GHM :EP:RL RB>E= MA> ;>LM
K>LNEML (H@B< PHNE= M>EE NL MA:M MH F:G:@> : MABKMRI:@> I:I>K PHNE= K>JNBK> MA> LMN=>GM MH LIK>:=
HNM :EE MA> M:LDL HO>K MA> L>F>LM>K :G= =H : EBMME> ;BM H? PHKD HO>K : EHG@ I>KBH= H? MBF> :L HIIHL>=
MH : EHM H? PHKD HO>K : LAHKM I>KBH= H? MBF> 0A> IKH;E>F BL MA:M MBF> F:G:@>F>GM BL : I>KLHG:E
MABG@!O>KRHG>PHKDL=B_>K>GMER:G=>Q<>ELNG=>K=B_>K>GM<BK<NFLM:G<>L
0A> BFIHKM:GM MABG@ MH K>F>F;>K :;HNM MBF> F:G:@>F>GM BL MA:M MA>K> BL GHM HG> F>MAH=
!O>KRHG> FNLM `G= PA:M PHKDL ;>LM ?HK A>K HK ABF 0A>K> :K> LHF> LMK:M>@B>L MA:M A:O> ;>>G NL>=
?HK R>:KL :G= HMA>KL MA:M :K> G>P 3ABE> MA>K> :K> FNEMBIE> I>KLI><MBO>L HG AHP ;>LM MH L>M I>KLHG:E
:G= IKH?>LLBHG:E @H:EL MA>K> :K> MAK>> @>G>K:E MA>F>L MA:M BGaN>G<> MA> =>O>EHIF>GM H? I>KLHG:E
MBF>F:G:@>F>GMIE:GLB=>GMB?RBG@IKBHKBMB>LF:G:@BG@MBF>:G=F:G:@BG@>G>K@R
0A> <HG<>IM H? MBF> F:G:@>F>GM BL :<MN:EER I>KLHG:E F:G:@>F>GM 3A>K> RHN :K> @HBG@
HK PA:M RHN :K> MKRBG@ MH :<<HFIEBLA BL FHK> BFIHKM:GM MA:G AHP ?:LM RHN @>M MA>K> ,>KLHG:E
F:G:@>F>GM =>F:G=L HK@:GBSBG@ :G= >Q><NMBG@ :KHNG= IKBHKBMB>L +G> MABG@ MH P:M<A HNM ?HK
HG RHNK <HEE>@> CHNKG>R BL LHF>MABG@ <:EE>= 6+/' (#/+0' 0BF> ?:FBG> BL MA> ?>>EBG@ H? A:OBG@ MHH
FN<A MH =H :G= GHM >GHN@A MBF> MH =H BM 0ABL A:II>GL H?M>G MH <HEE>@> LMN=>GML :G= PBMAHNM
P:KGBG@ 0ABL P:L <>KM:BGER MA> <:L> PBMA FR I:I>K % <>KM:BGER ?>EM HO>KPA>EF>= PBMA MABKMR I:@>L
MH PKBM> :G= GHM : EHM H? MBF> :O:BE:;E> MH PKBM> BM BG $HP>O>K MA>K>ZL HG> K>:EER A>EI?NE :LI><M H?
MBF>XRHN :EP:RL DGHP AHP FN<A RHN A:O> BG : =:R 5HN DGHP MA:M BG :GR @BO>G =:R RHN A:O>
MP>GMR?HNK AHNKL MH :<<HFIEBLA >O>KRMABG@ RHN G>>= MH =H ?HK MA:M =:R 3BMA MA:M DGHPE>=@> BG
A:G= BM ;><HF>L :G >:LR M:LD MH F:D> LF:KM <AHB<>L PA>G IE:GGBG@ ;HMA MA> L<A>=NE> ?HK MA> =:R
:LP>EE:LMA>>G>K@RG>>=>=MH<HFIE>M>MA>M:LDL
0A> H;C><MBO> H? LN<<>LL?NE MBF> F:G:@>F>GM BL MH BG<K>:L> :G= HIMBFBS> <HGMKHEE:;E> MBF>
+G<> RHN A:O> : L<A>=NE> F:=> =HGZM <A:G@> BM NGE>LL LHF>MABG@ H? LHF> L>KBHNL NK@>G<R
<HF>L NI $HP>O>K PABE> F:G:@BG@ MBF> BL <A:EE>G@BG@ >GHN@A MA>K>ZL :GHMA>K <HG<>IM HNM
MA>K> :;HNM MA> F:G:@>F>GM H? RHNK >G>K@R 0ABGD H? >G>K@R :L FHG>R :G= MBF> :L PA:M RHNZ=
EBD> MH ;NR %? RHNZK> MHH MBK>= HK >G>K@R ;KHD> MH ;> IKH=N<MBO> BMZL A:K= MH :<<HFIEBLA ;NR
>O>KRMABG@ HG RHNK L<A>=NE> (N<DBER :M MA> :@> H? MP>GMRMPH % A:= EHML H? >G>K@R :G= LM:FBG:
MH INEE :G :EEGB@AM>K :G= `GBLA MA> I:I>K %? % MKB>= MH =H MA:M MH=:R :M MABKMR`O> % PHNE= ;> :LE>>I
HG FR D>R;H:K= :?M>K : ?>P AHNKL %G HK=>K MH :EP:RL A:O> >GHN@A H? MBF> <NKK>G<R BMZL BFIHKM:GM
MA:MRHN:K>IARLB<:EER>G>K@BS>=>FHMBHG:EER<HGG><M>=:G=F>GM:EER?H<NL>=HGRHNKINKIHL>
3ABE> :G NG=>KLM:G=BG@ H? MA>L> @>G>K:E IKBG<BIE>L BL >LL>GMB:E ?HK MA> =>O>EHIF>GM H? LHNG=
MBF> :G= >G>K@R F:G:@>F>GM LMK:M>@B>L BM BL :ELH BFIHKM:GM MH ?H<NL HG IK:<MB<:E LMK:M>@B>L MA:M <:G
;> BFIE>F>GM>= MH BFIKHO> MA> <HEE>@> >QI>KB>G<> 0A> `KLM K><HFF>G=:MBHG BL MH DGHP PAH
RHN :K> :G= AHP RHN PHKD %G MABL LM>I RHN G>>= MH >Q:FBG> :EE :LI><ML H? RHNK <NKK>GM MBF>
F:G:@>F>GM LDBEEL 0:D> : EHHD :M I>KLHG:E IK:<MB<>L LN<A :L PA>K> RHN PHKD AHP RHN HK@:GBS>
BG?HKF:MBHG :G= <HNKL> F:M>KB:EL AHP <NKK>GM :G= ?NMNK> :LLB@GF>GML :G= IKHC><ML :K> IKBHKBMBS>=
AHP <HFFBMF>GML :K> ;:E:G<>= :G= E:LMER AHP RHN IK>O>GM ;NKGHNM +G<> RHN A:O> M:D>G LMH<D
BGRHNK<NKK>GMIK:<MB<>LRHNZEEA:O>:;>MM>KB=>:H?PA:MRHNG>>=MH=HMHBFIKHO>
!O>G MH=:R % MKR MH LI:<> HNM E:K@> IKHC><ML :G= :LLB@GF>GML :G= `G= MA:M % :F GHM :L ?H<NL>= HK
FHMBO:M>= % LMKN@@E> MH <HFIE>M> MA> M:LD :G= PA>G % =H BM G>O>K ?>>EL EBD> % =B= BM P>EE $HP>O>K
PA>G % K>O>KM ;:<D MH MA:M IK:<MB<> H? P:BMBG@ NGMBE MA> E:LM FBGNM> % :F ?H<NL>= >G>K@BS>= :G=
FHMBO:M>= :G= MA> K>LNEML A:O> ;>>G O>KR IHLBMBO> %G FR HPG =H<MHK:E IKH@K:F % A:O> ;>@NG
:LLB@GF>GML : EBMME> MHH <EHL> MH MA> =>:=EBG>L ;NM MA>R NEMBF:M>ER @>M <HFIE>M>= :G= % <HGMBGN> MH
;> :F:S>= :M MA> AB@A F:KDL % @>M ;:<D 3A:M =H>L MA:M M>EE F> %M M>EEL F> % MAKBO> BG AB@AIK>LLNK>
LBMN:MBHGL PA>K> % A:O> MH ?H<NL BGM>GL>ER HG HG> MABG@ :G= LM:R ?H<NL>= ?HK : EHG@ I>KBH= H? MBF>
%L MA:M F>MAH= ?HK >O>KRHG> >KM:BGER GHM ;NM BM PHKDL ?HK LHF> :G= BM F:R HK F:R GHM PHKD ?HK
RHN 5HN FNLM >Q:FBG> RHNK HPG PHKD A:;BML :G= IK:<MB<>L :G= EHHD ;:<D :M MBF>L MA:M RHN A:O>
=HG>P>EE:G=MBF>LRHNA:O>=HG>IHHKER:G=B=>GMB?RA:;BMLMA:ME>=MHMAHL>K>LNEML
0A> G>QM LMK:M>@R BL MH <K>:M> : I>KLHG:E MBF> F:G:@>F>GM F>MAH= MH A>EI IKBHKBMBS> IKHC><ML
:G= :<MBOBMB>L 0KR MH B=>GMB?R :G= >EBFBG:M> :<MBOBMB>L MA:M F:R =>MK:<M ?KHF >_><MBO>ER ;:E:G<BG@
<5DH9F0CF8GC:0=G8CA-=A9\GCB2CIF,=89 
RHNK KHE>L :G= K>LIHGLB;BEBMB>L %G :GR @BO>G =:R PA:M :K> MA> FHLM BFIHKM:GM MABG@L MA:M G>>= MH
;> <HFIE>M>= 3A:M <:G ;> >EBFBG:M>= ?KHF RHNK L<A>=NE> MA:M IKHOB=>L RHN MA> MBF> RHN G>>=
MH ;> LN<<>LL?NE % EBD> MH MABGD H? MABL :L MA> [`O>R>:KHE= IE:G\ )R `O>R>:KHE= EHO>L MH IE:R
BG MA> FHKGBG@ :L A>K )HF :G= % :K> @>MMBG@ K>:=R ?HK PHKD 0A> IKH;E>F BL MA:M P> G>>= A>K MH
@>M K>:=R ?HK L<AHHE MHH 3> INM : IE:G BG IE:<> MA:M :EEHPL A>K MH IE:R BG MA> FHKGBG@ HGER :?M>K
LA> BL <HFIE>M>ER K>:=R ?HK L<AHHE 5HN G>>= MBF> MH IE:R A:O> ?NG :G= LH<B:EBS> ;NM BM LAHNE=
GHM<HF>:MMA>>QI>GL>H?AB@A>KIKBHKBMRM:LDL
0A> G>QM K><HFF>G=:MBHG BL MH ?H<NL HG MA> IKH<>LL H? >G>K@R F:G:@>F>GM K>:M> @H:EL
?H<NL>= HG IARLB<:E F>GM:E LIBKBMN:E :G= >FHMBHG:E K>G>P:E 0A>L> @H:EL <:G BG<EN=> ;NM :K>
GHM EBFBM>= MH @>MMBG@ L>O>G MH >B@AM AHNKL H? LE>>I : GB@AM M:DBG@ LF:EE ;K>:DL =NKBG@ PHKD
L>LLBHGL >:MBG@ A>:EMAR >Q>K<BLBG@ K>@NE:KER =KBGDBG@ EHML H? P:M>K A:OBG@ : IHLBMBO> :MMBMN=> :G=
IK:<MB<BG@ IHLBMBO> L>E?M:ED GRMBF> % DGHP % A:O> : ;B@ PHKD M:LD HK L<AHHE M:LD MH <HFIE>M>
% :F BG MA> FBG=L>M H? >G>K@R <HGO>KL:MBHGXFR >G>K@R % F:D> LNK> MH @>M : @HH= GB@AM LE>>I
>:M FR 3A>:MB>L :G= MABGD @HH= OB;>L 0A>L> A:;BML :EEHP F> MH <HFIE>M> IKHC><ML BG : P:R MA:M
PHKDL?HKF>
(:LMER L>M NI : K>P:K= LRLM>F +G> H? MA> @K>:M MABG@L :;HNM <K>:MBG@ IKBHKBMBS>= EBLML H? MABG@L
MA:M G>>= MH ;> =HG> BL MA> L>GL> H? :<<HFIEBLAF>GM PA>G RHN <KHLL MA:M BM>F H_ MA> EBLM +G<>
RHNZO> B=>GMB`>= RHNK F:CHK @H:EL :G= M:LDL B=>GMB?R : K>P:K= ?HK >:<A H? MA>L> @H:EL MA:M IKHOB=>L
:G >O>G @K>:M>K L>GL> H? :<<HFIEBLAF>GM 0A> K>P:K= LAHNE= ;> I>KLHG:E :G= LAHNE= >G<HNK:@>
RHN MH <HGMBGN> RHNK @HH= A:;BML 3A:M :K> MA> MABG@L RHN EHO> MH =H 3KBM> MA>F =HPG G>QM MH
MA> F:CHK M:LDL :G= E>:KG MH IK:<MB<> =>E:R>= @K:MB`<:MBHG ;R HGER =HBG@ MAHL> MABG@L HG<> RHNZO>
<KHLL>=MA>BM>FH_
%G <HG<ENLBHG IK:<MB<:E :G= M:G@B;E> LMK:M>@B>L ?HK MBF> :G= >G>K@R F:G:@>F>GM <:G ;> MA> D>R
MH LN<<>LL ?HK :GR NG=>KM:DBG@ 3ABE> >:<A <HG<>IM K>E:M>= MH MBF> :G= >G>K@R F:G:@>F>GM BL
NGBJN> :G= IKHOB=>L : LM:KMBG@ IHBGM ?HK RHN MH ;>@BG MH =>O>EHI LMKHG@ I>KLHG:E F:G:@>F>GM
LDBEEL MA>L> F>MAH=L :G= B=>:L :K> GHM HG>LBS>`ML:EE :G= RHN G>>= MH >QIEHK> MA> LMK:M>@B>L
:G= =BL<HO>K PAB<A <HFIHG>GML H? >:<A ;>LM `M RHNK EB?>LMRE> :G= <BK<NFLM:G<>L 0AKHN@A MABL
>Q>K<BL>RHN<:G=>O>EHI:I>KLHG:EF:G:@>F>GMIE:GMA:MBL;>LMLNBM>=MHRHNKG>>=L:G=@H:EL
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH,<5F98DF9J=CIG@M
CIB85H=CBG C: 7589A=7 ,I779GG 0CF8G C: 0=G8CA 8=H98 6M -<CA5G )F=9GH9F GG5M 5IH<CF98 6M
<F=GHCD<9F%"C7?9M%=79BG92HHF=6IH=CB
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
<5DH9F-=A9&5B5;9A9BH+95@=HM
= /4#!../3(//36)3(3(%/6,2!.$3(%.2/!16)3(3(%%!',%2>
P"I69FH"IAD<F9M
0A>K> BL : =B_>K>G<> ;>MP>>G : @H:E :G= : PBLA @H:E BL LHF>MABG@ MA:M K>JNBK>L :<MBHG MH
<HFIE>M> PBLA BL LHF>MABG@ P> LBFIER AHI> PBEE A:II>G PBMAHNM =HBG@ :GRMABG@ MH :<AB>O>
BM /MN=>GML H?M>G <HG?NL> @H:EL PBMA PBLA>L =N> MH MA> >QI><M>= IKH;:;BEBMR H? MA> HNM<HF> "HK
>Q:FIE> : LMN=>GM FB@AM L:R MA:M HPGBG@ : ">KK:KB HK ;><HFBG@ : FHOB> LM:K P>K> PBLA>L GHM
@H:EL ;><:NL> MA> <A:G<> H? MA>F A:II>GBG@ BL LEBF 3> <HNE= =>;:M> :;HNM K>:EBLMB< @H:EL ?HK :
EHG@ MBF> ;NM ?HK MA> INKIHL> H? MABL E>LLHG MA> IKH;:;BEBMR H? : @H:E BL BKK>E>O:GM 0ABGD H? BM EBD>
MABL MA> <A:G<>L H? PBGGBG@ MA> EHMM>KR F:R BG ?:<M ;> LEBF ;NM P> A:O> GH <A:G<> MH PBG MA>
EHMM>KR B? P> =H GHM INK<A:L> : MB<D>M ,NK<A:LBG@ : MB<D>M K>JNBK>L :<MBHG :G= MA:M =BLMBG@NBLA>L :
=B_>K>G<>;>MP>>G:@H:E:G=:PBLA
3A>G P> :IIER MABL MH >=N<:MBHG MA>K> :K> F:GR :K>:L MA:M K>JNBK> :<MBHG BG HK=>K MH ;>
LN<<>LL?NE %? % PBLA ?HK @HH= @K:=>L ;NM LI>G= FR MBF> :M I:KMB>L BGLM>:= H? LMN=RBG@ % F:R GHM @>M
FR PBLA NM B? FR @H:E BL MH :MM:BG @HH= @K:=>L :G= % M:D> :<MBHG MH :<AB>O> MA>F ;R LMN=RBG@
K>OB>PBG@;>BG@IK>I:K>=>M<MA>G%:FFN<AFHK>EBD>ERMH:<<HFIEBLAFR@H:E
=/-%0%/0,%6!.3)33/(!00%.2/-%6)2()36/4,$(!00%./3(%12-!+%)3(!00%.>
P&=7<59@#CF85B
CB6=@JA&B=@G
\ <58 5 :F=9B8 =B 7C@@9;9 K<C K5BH98 HC 69 5 DFC:9GG=CB5@ 5H<@9H9 "9 KCI@8 H5@? 56CIH =H 5@@ H<9 H=A9 5B8
G5M H<5H =H K5G <=G ;C5@ "9 K5G 5 GHI89BH5H<@9H9 6IH <9 @CJ98 5F@SG #F 5B8 5H9 H<9F9 :F9EI9BH@M "9 F5F9@M
KCF?98 CIH (J9F H=A9 \ GH5FH98 HC H<=B?Q=: <9 F95@@M K5BH98 HC 69 5 DFC:9GG=CB5@ 5H<@9H9 =B CF89F HC
;=J9 <=AG9@: H<9 69GH CDDCFHIB=HM HC A5?9 =H <9 G<CI@8 9L9F7=G9 ACF9 5B8 95H 5 ACF9 BIHF=H=CB5@ 8=9H \H
C77IFF98 HC A9 M95FG @5H9F H<5H <9 G5=8 =H K5G <=G ;C5@ 6IH =B F95@=HM =H K5G 5 K=G< "9 <CD98 H<5H <9 KCI@8
>IGH A5;=75@@M 697CA9 5 DFC:9GG=CB5@ 5H<@9H9 CB9 85M 6IH K5G IBK=@@=B; HC H5?9 H<9 57H=CB B979GG5FM HC <9@D
<=A57<=9J9<=G;C5@
+G> H? MA> <A:EE>G@>L F:GR LMN=>GML ?:<> BL ;>BG@ HO>K <HFFBMM>= /HF> :K> PHKDBG@ ?NEEMBF>
@HBG@ MH L<AHHE ?NEEMBF> :G= A:O> HMA>K K>LIHGLB;BEBMB>L :L P>EE /MN=>GML F:R :==BMBHG:EER ;>
M:DBG@ <:K> H? <ABE=K>G LB;EBG@L I:K>GML HK A:O> HMA>K <HFFBMF>GML %M <:G ;> =Bb<NEM MH M:D>
:<MBHG MH <HFIE>M> @H:EL PA>G MA>K> :K> LH F:GR :K>:L <HFI>MBG@ ?HK HNK MBF> G= LHF>MBF>L
P> <:GGHM [=H BM :EE\ /HF>MBF>L P> G>>= MH IKBHKBMBS> E>M LHF>MABG@ @H :=CNLM :G= K>>O:EN:M>
PA:MMA>FHLMBFIHKM:GMMABG@L:K>MHNL
+MA>K LMN=>GML F:R LMKN@@E> ;><:NL> <HEE>@> =H>L GHM A:O> :L FN<A LMKN<MNK> :L PA:M MA>R F:R
A:O> ;>>G NL>= MH BG AB@A L<AHHE 3AR LAHNE= % LM:KM : AHF>PHKD :LLB@GF>GM GHP PA>G % =HGZM
A:O> :GRMABG@ % A:O> MH =H ?HK MA> G>QM MAK>> =:RL 0ABL FBG=L>M NLN:EER E>:=L MH MA> LMN=>GM
P:BMBG@ NGMBE MA> E:LM FBGNM> MH LM:KM MA> :LLB@GF>GM :G= :L : K>LNEM MA> JN:EBMR H? PHKD BL GHM AB@A
#@=1@/AB7</B7=<
=//1$/./3:3(%1%)2./318>
P2C85
!BMA>K : AHF>PHKD :LLB@GF>GM @>ML =HG> HG MBF> HK BM =H>LGZM +O>K MA> R>:KL % A:O> L>>G :
EHM H? >Q<NL>L ?KHF LMN=>GML PAH =B=GZM <HFIE>M> MA>BK :LLB@GF>GM HG MBF> 0ABGD :;HNM MABL
%? LHF>HG> P>K> MH @BO> RHN  MH <HFIE>M> MA> :LLB@GF>GM HG MBF> PHNE= RHN <HFIE>M> BM
LHHG>K MA:G RHN HK=BG:KBER PHNE= A:O> 3A:M E>O>E BL RHNK BGM>KG:E FHMBO:MBHG $HP BFIHKM:GM
BLMA>:LLB@GF>GMMHRHN$HPBFIHKM:GMBLRHNK@K:=>$HPBFIHKM:GMBLRHNK<E:LL
,KH<K:LMBG:MBHG BL MA> :<M H? INMMBG@ LHF>MABG@ H_ %MZL =HBG@ LHF>MABG@ MA:MZL : EHP IKBHKBMR
BGLM>:= H? =HBG@ LHF>MABG@ MA:M BL : AB@A IKBHKBMR 3> :EE IKH<K:LMBG:M> LHF>MBF>L NM PA>G P>
IKH<K:LMBG:M> HG :G :LLB@GF>GM HK LMN=RBG@ ?HK :G >Q:F NGMBE MA>K> BL EBMME> HK GH MBF> E>?M HNK
@K:=>LLN_>K:G=BM<:G;>LMK>LL?NE(>:KGBG@:;HNMPARP>IKH<K:LMBG:M><:GA>EINLHO>K<HF>
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
%3/A=<A*3#@=1@/AB7</B3
% =HGZM ?>>E EBD> BM % PHNE= K:MA>K IE:R : OB=>H @:F> P:M<A 02 A:G@ HNM PBMA ?KB>G=L LE>>I >M<
MA:GLM:KMFR:LLB@GF>GM0A>IKH;E>FBLWRHNFB@AMG>O>K?>>EEBD>LM:KMBG@BM
,>K?><MBHGBLF % P:GM MH =H BM I>K?><MER :G= MA>K> BL GHM >GHN@A MBF> MH =H BM I>K?><MER LH % :F
GHM@HBG@MH=HBM:M:EE
">:K H? LN<<>LL %? % LMN=R FR M:BE H_ :G= % >:KG :G HG :G >Q:F I>HIE> PBEE LM:KM MH >QI><M MA:M
%PBEE@>MZL:EEH?MA>MBF>
">:K H? ?:BENK> 3BMAHNM <HG`=>G<> % <:GZM =H MA> :LLB@GF>GM P>EE GH F:MM>K AHP FN<A MBF>
HK>_HKM%INMBGMHBM
=A&6%!1%./301%0!1%$3/&!),6%6),,.%5%1#1%!3%!.83().'/1)').!,>
P,=F$9B+C6=BGCB
0A>L> K>:LHGL A:O> ;>>G D>>IBG@ LHF> LMN=>GML ?KHF <HFIE>MBG@ :LLB@GF>GML :G= LMN=RBG@ ?HK
>Q:FL HRHNIKH<K:LMBG:M>3AR
3A:M>O>K MA> K>:LHG F:R ;> IKH<K:LMBG:MBHG BL GHM : @HH= B=>: %M H?M>G E>:=L MH LMK>LL %M <:G ;>
LMK>LL?NE BG MKRBG@ MH <HFIE>M> LHF>MABG@ B? P> A:O> E>?M BM MH MA> E:LM FBGNM> %M <:G ;> LMK>LL?NE MH
DGHP MA:M P> =B=GZM LN;FBM PHKD MA:M P:L HNK ;>LM G= LMK>LL <:G M:D> : MHEE HG MA> A>:EMA H? HNK
;H=B>L
0A>K> :K> F:GR >Q:FIE>L H? AHP F>KB<:G LH<B>MR K>:EBS>L MA:M I>HIE> IKH<K:LMBG:M> ">=!Q
BL ;NBEM HG MA> ?:<M MA:M I>HIE> G>>= LHF>MABG@ BFF>=B:M>ER :G= BG F:GR <:L>L MA>R A:O>
IKH<K:LMBG:M>= I:LM PA>G K>@NE:K F:BE PHNE= A:O> @HMM>G BM MA>K> HG MBF> ,HLM Hb<>L LM:R
HI>G E:M>K HG 0:Q :R ;><:NL> MA>R DGHP I>HIE> IKH<K:LMBG:M>= @>MMBG@ MA>BK M:Q>L =HG> /MHK>L
H_>K L:E>L =:RL ;>?HK> AKBLMF:L ;><:NL> MA>R DGHP I>HIE> A:O> IKH<K:LMBG:M>= MA>BK AKBLMF:L
LAHIIBG@
/HAHP=HP>:OHB=IKH<K:LMBG:MBHG
0>EE RHNKL>E? MH =H RHNK ;>LM :EE H? MA> MBF> LD RHNKL>E? PA:M BL BFIHKM:GM *+3 +MA>K
I>HIE>LZ >QI><M:MBHGL H? RHN LAHNE=GZM F:MM>K > <HG`=>GM BG RHNKL>E? :G= BG RHNK :;BEBMB>L H
MA> ;>LM RHN <:G :G= ;> L:MBL`>= PBMA RHNK >_HKM .>:EBS> MA:M P>ZK> GHM I>K?><M ):D> RHNK @H:E
MH =H RHNK ;>LM :G= NG=>KLM:G= RHN =HGZM G>>= MH ;> I>K?><M ELH K>:EBS> MA:M RHN F:R G>O>K [?>>E
EBD>\=HBG@:G:LLB@GF>GMHKLMN=RBG@?HK:G>Q:F
#>M /M:KM>= %M BL MA> A:K=>LM I:KM MH =H :G= PBEE A:O> MA> ;B@@>LM >_><M HG =>?>:MBG@
IKH<K:LMBG:MBHG %M <:G ;> LBFIE> LDBF MA> <A:IM>K RHN A:O> MH K>:= MABGD H? : MBME> ?HK RHNK I:I>K
HKL<A>=NE>:GAHNK?HKPA>GRHNPBEELMN=R0A>K>LMH?BMPBEE;>>:LB>KHG<>RHN@>MLM:KM>=
!LM:;EBLA :G= K>ER HG : IKH<>LL "B@NK> HNM PA:M PHKDL ;>LM ?HK RHN 0:D> LHF> MBF> MH F:D> :
IE:G EBLM HK HNMEBG> MA:M :EEHPL RHN MH L>> PA:M RHN PBEE =H :G= PA>G MH <HFIE>M> RHNK :LLB@GF>GM
<5DH9F-=A9&5B5;9A9BH+95@=HM 
HK @H:E %M FB@AM ;> L>MMBG@ :LB=> MBF> >:KER BG MA> FHKGBG@ HK P:BMBG@ MH P:M<A : FHOB> NGMBE :?M>K
RHNZO>`GBLA>=:G:LLB@GF>GM/>MRHNKIKBHKBMB>L:G=LMB<DMHMA>F
/>M %F:@BG:KR >:=EBG>L %? MA> I:I>K BL =N> BG LBQ =:RL M>EE RHNKL>E? BM BL =N> BG MPH =:RL 'GH<D
BM HNM >:KER :G= MA>G >GCHR GHM A:OBG@ BM HO>K RHNK A>:= ":D> =>:=EBG>L :K> E>LL LMK>LL?NE G= B?
RHN=H>G=NIG>>=BG@FHK>MBF>RHNA:O>:<NLABHG
HGZM K>:D MA> A:BG &>KKR />BG?>E= =>O>EHI>= : LRLM>F MH A>EI IK>O>GM IKH<K:LMBG:MBHG $>
P:GM>= MH ;> : ;>MM>K <HF>=B:G :G= ;>EB>O>= MA:M PKBMBG@ ;>MM>K CHD>L PHNE= A>EI 0H PKBM> ;>MM>K
CHD>L A> MAHN@AM A> LAHNE= PKBM> >O>KR =:R $BL LRLM>F <:EE>= HGZM K>:D MA> A:BG P:L NL>=
MH FHMBO:M> ABFL>E? MH PKBM> >O>KR =:R $> LM:KM>= PBMA : ;B@ P:EE <:E>G=:K PBMA : PAHE> R>:K HG
: I:@> :G= : K>= F:KD>K "HK >:<A =:R A> PKHM> A> PHNE= IE:<> : ;B@ K>= 4 HG MA:M =:R H? MA>
<:E>G=:K ?M>K : ?>P <HGL><NMBO> =:RL A> A:= : <A:BG G= MA>G MA> M:LD ;><:F> GHM ;K>:DBG@ MA>
<A:BG
EMAHN@A HKB@BG:EER LD>IMB<:E % MKB>= BM PBMA >Q>K<BL> :G= ?HNG= BM MH PHKD % EBD>= F:KDBG@ MA>
;B@ K>= 4 :G= % EBD>= L>>BG@ : EHG@ LMKBG@ H? ;B@ K>= 4ZL :?M>K : ?>P P>>DL % LMBEE NL> MABL LMK:M>@R
:G= `G= FRL>E? FN<A FHK> FHMBO:M>= MH GHM ;K>:D MA> <A:BG MA:G MH @H ?HK : KNG LPBF HK MH MA>
@RF%?MA>K>BLLHF>MABG@RHNP:GMMHIK:<MB<>>O>KR=:RMKRBM
=A&8/4%!3!&1/'?1233().').3(%-/1.).'3(%1%23/&8/41$!86),,"%6/.$%1&4,>
P&5F?-K5=B
% =HGZM LN@@>LM MA:M RHN @H HNM :G= >:M : ?KH@ ;NM MA> IHBGM 0P:BG F:D>L BL I:K:FHNGM MH
HO>K<HFBG@ IKH<K:LMBG:MBHG $> F>:GM B? RHN A:O> MH =H LHF>MABG@ RHN =HGZM P:GM MH MA> ;>LM
MABG@ MH =H BL =H BM KB@AM :P:R @>M BM HO>K PBMA :L LHHG :L IHLLB;E> MA>G FHO> HG MH >GCHR MA>
MABG@LRHNP:GMMH=H
0ABL FB@AM ;> MKN> H? @HBG@ MH MA> =>GMBLM F:DBG@ : IAHG> <:EE RHN =HGZM P:GM MH F:D> HK
=HBG@RHNKAHF>PHKD
0BF1K;:GZL0>=0:EDLABG>L:EB@AMHGIKH<K:LMBG:MBHG
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
)723= Inside the Mind of a Master Procrastinator,Inside the Mind of a Master Procrastinator, '7;(@0/<''/:9
 - 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
AB7;/B7<5'/A9'7;3
+G> H? MA> ;B@@>LM <A:EE>G@>L % L>> <HEE>@> LMN=>GML A:O> BL :<<NK:M>ER >LMBF:MBG@ AHP FN<A MBF>
BM PBEE M:D> MH <HFIE>M> : M:LD 3> FB@AM MABGD P>ZK> @HBG@ MH ;> :;E> MH K>:= :G :LLB@G>= <A:IM>K
BG :G AHNK NM PA:M B? BM M:D>L MAK>> AHNKL MH K>:= :G= NG=>KLM:G= MA> <A:IM>K $:OBG@ MA> LDBEE MH
DGHP AHP EHG@ : AHF>PHKD :LLB@GF>GM PBEE M:D> BL LHF>MABG@ MA:M <:G ;> =>O>EHI>= NM NGMBE
P> <:G :GMB<BI:M> BM :<<NK:M>ER BM BL ;>LM MH E>:O> LHF> MBF> BG HNK L<A>=NE> BG <:L> BM M:D>L EHG@>K
MA:GP>A:=:GMB<BI:M>=
3> A:O> : EBFBM>= :FHNGM H? MBF> )HLM H? NL <:GGHM <HFIE>M> >O>KRMABG@ P> PBLA MH
<HFIE>M>X>BMA>K BG : =:R HK BG : EB?>MBF> 3> A>:K I>HIE> L:R [% PBLA MA>K> P:L FHK> MBF>\ HK
[%? MA>K> P:L FHK> MBF> % PHNE= A:O> =HG> MABL\ 3> A:O> >GHN@A MBF> MH =H F:GR H? MA> MABG@L
P> PBLA MH =H ,>HIE> KNG BGMH =Bb<NEMR PA>G MA>R LI>G= MBF> HG MABG@L MA:M :K> GHM MA> FHLM
BFIHKM:GMMABG@L?HKMA>F
T-<9F9SGB9J9F9BCI;<H=A9HC8C5@@H<9BCH<=B;MCIK5BHU
<5DH9F-=A9&5B5;9A9BH+95@=HM 
P=@@05HH9FGCB
CB6=@JA&B=@G
\ IG98 HC G5M HC AMG9@: H<5H \ KCI@8 8C H<=G CF XB=G< H<5H 5G GCCB 5G \ ;CH 75I;<H ID T5I;<H IDU A=;<H
5DD@M HC AM 9A5=@ =B6CL ?99D=B; 7IFF9BH K=H< AM HK=HH9F H=A9@=B9 CF K5H7<=B; H<9 @5H9GH 9D=GC89 C: -<9
05@?=B; 958 IH \ :CIB8 H<5H GCA9H=A9G \ K5G B9J9F ;C=B; HC 69 75I;<H ID ,C =H K5G =ADCFH5BH :CF A9
HC F95@=N9 H<5H \ K5G =B58J9FH9BH@M D@57=B; EI58F5BH \\\ 5B8 \/ 57H=J=H=9G 5<958 C: EI58F5BH \ 5B8 \\ 57H=J=H=9G
0CFG9 \ K5G >IGH=:M=B; H<9A 6M H9@@=B; AMG9@: \ KCI@8 8C H<9 \ 5B8 \\ 57H=J=H=9G CB79 H<9 \\\ 5B8 \/ 57H=J=H=9G
K9F9 XB=G<98 \ 7CFF97H98 H<=G 6M F9:C7IG=B; CB EI58F5BH \ 5B8 \\ 5B8 7CBGH5BH@M F9A=B8=B; AMG9@: BCH HC
7CB79BHF5H9HCCAI7<H=A9CBH<9H<=B;GH<5H5F9B9=H<9FIF;9BHBCF=ADCFH5BH
'7;3 /</53;3<B&B@/B3573A
(:NK:2:G=>KD:FZL0! 0:EDA>EILPBMAI>KLI><MBO>HG?K>>MBF>
)723= How to Gain Control of Your Free Time,How to Gain Control of Your Free Time, /C@/)/<23@9/;''/:9
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
 - 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
5HN FNLM F:D> MBF> ?HK MA> MABG@L MA:M :K> FHLM BFIHKM:GM MH RHN %G HK=>K MH F:D> MBF> RHN
F:RG>>=MH=><B=>RHNPBEEGHM=HLHF>MABG@>EL>
0A> :;BEBMR MH L:R [GH\ <:GGHM ;> NG=>K>LMBF:M>= %M BLGZM >:LR MH L:R [GH\ >LI><B:EER MH ?:FBER
?KB>G=L :G= I>HIE> MA:M EBD> RHN :G= PAHF RHN EBD> )HLM H? NL =HGZM P:GM MH L:R [GH\ >LI><B:EER
PA>G P> P:GM MH A>EI NM B? P> :EP:RL =H PA:M HMA>KL P:GM P> PHGZM :<<HFIEBLA MA> MABG@L
MA:MP>P:GMXMA>MABG@LMA:M:K>FHLMBFIHKM:GMMHNL
LDRHNKL>E?
3A:M:F%=HBG@MA:M=H>LGZMG>>=MH;>=HG>
3A:M<:G%=HFHK>>b<B>GMER
$:O> RHN >O>K HK=>K>= :G :II>MBS>K L:E:= ;>O>K:@> HK ;K>:= MA>G ?>EM ?NEE A:E?P:R MAKHN@A
RHNK >GMK>> %G LBMN:MBHGL EBD> MABL F:GR I>HIE> <E:BF [FR >R>L P>K> ;B@@>K MA:G FR LMHF:<A\
0ABL BL :ELH MKN> PBMA IE:GGBG@ :G= @H:E L>MMBG@ %M F:R ;> MA:M RHNK IE:G BL ;B@@>K MA:G MA> =:R
!QI>KBF>GM PBMA PA:M RHN P:GM MH :<<HFIEBLA :G= PA:M BL K>:EBLMB< 0A> ;>MM>K RHN <:G :<<NK:M>ER
IK>=B<M PA:M RHN <:G :G= PBEE :<<HFIEBLA :G= AHP EHG@ BM PBEE M:D> MA> ;>MM>K RHN <:G IE:G :G=
MA>FHK>LN<<>LL?NERHNPBEE;>
713<A3A/<2BB@70CB7=<A
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2
-=A .F65B \BG=89 H<9 &=B8 C: 5 &5GH9F )FC7F5GH=B5HCF IH<CF98 6M -7CA %C75H98 5H
<HHDGKKKH987CAH5@?GH=A4IF65B4=BG=894H<94A=B84C:454A5GH9F4DFC7F5GH=B5HCF
%=79BG92P'P'\BH9FB5H=CB5@
$=A /5B89F?5A "CK HC !5=B CBHFC@ C: 2CIF F99 -=A9 IH<CF98 6M -7CA %C75H98 5H
<HHDGKKKH987CAH5@?G@5IF54J5B89F?5A4<CK4HC4;5=B47CBHFC@4C:4MCIF4:F994H=A9
%=79BG92P'P'\BH9FB5H=CB5@
<5DH9F-=A9&5B5;9A9BH+95@=HM 
<5DH9F0CF@8/=9K5B8,9@:Z757M
*=@:2)73E
$1.?8:5-27.A.6.68+A,858:5201<(
0A> M>KF IKH<K:LMBG:MBHG <HF>L ?KHF )B==E> "K>G<A :G= (:MBG :G= H? <HNKL> F>:GL INMMBG@
LHF>MABG@H_NGMBEE:M>K
%M BL A:K=ER G><>LL:KR MH =>`G> MABL <HFFHG IKH;E>F :M L<AHHEW:G= >O>KRPA>K> >EL>WBG #0;
E:G@N:@> AHP>O>K 3> :EE DGHP PA:M BM BL 3> :EE =H BM :G= P>ZO> :EE LN_>K>= MH LHF> >QM>GM
;><:NL>H?BMFBLL>==>:=EBG>LM>G=MHF:D>BGLMKN<MHKLW:G=;HLL>LW<K:;;R
NM A>K> BL : IKH;E>F LHF> I>HIE> IKH<K:LMBG:M> FHK> MA:G HMA>KL G= *+0 CNLM ;><:NL> MA>R
:K> E:SR =BLHK@:GBS>= NGFHMBO:M>= HK <HG?NL>= :;HNM PA:M MH =H 0AHL> FB@AM ;> MA> LNK?:<>
:LLNFIMBHGL :G= LHF>MBF>L MKN> ;NM :M HMA>K MBF>L HK I>KA:IL ;>G>:MA PA:M :II>:K MH ;> MA>
;>A:OBHKL EBLM>= :;HO> =>?>:MBG@ A:;BML EBD> IKH<K:LMBG:MBHG A:O> MH =H PBMA =>>I>K BLLN>L F:R;>
;>EB>?L:G=MAHN@AMI:MM>KGLLN<A:L
] [3A:MZLMA>NL>B?%@>MMABL=HG>HKGHM\
] [%=H;>MM>KNG=>KLMK>LLLHE>:OBG@MABG@LNGMBEMA>E:LMFBGNM>:<MN:EERA>EILF>\
] [%ZFCNLMG:MNK:EER=BLHK@:GBS>=\
] [%G>O>KF:G:@>MH=H:GRMABG@HGMBF>%ZO>:EP:RL;>>GMA:MP:R\
0ABL BL PAR MABL <A:IM>K ;>@BGL PBMA [?HNG=:MBHG:E BLLN>L\ I>KLI><MBO>L :G= ;>EB>?L :;HNM HNKL>EO>L
LN<A :L HNK PHKE= OB>P MA:M HI>K:M>L :M MA> ;HMMHF H? HNK IBE> H? FHMBO:MBHGL :G= HNK L>GL> H?
L>E?>b<:<R HK E:<D MA>K>H? MA:M @>G>K:M>L MAHN@AML MA:M >BMA>K PHKD ?HK HK :@:BGLM NL PA>G BM
<HF>L MH LN<<>LL?NEER F:G:@BG@ MBF> MHHEL :G= >GOBKHGF>GML H? E>:KGBG@ />E?>b<:<R BL HG>ZL
L>GL>H?;>BG@:;E>MH:<AB>O>@H:EL
"BKLM A>K> BL : EHHD :M PHKE= OB>P : <HG<>IM LHF> >QI>KML INM :M MA> ?HNG=:MBHG:E E>O>E H? AHP
P> MABGD :G= I>K<>BO> MA> PHKE= +G MHI H? HNK PHKE= OB>P LH MH LI>:D :G= :L : K>LNEM H? BM :K>
HNK;>EB>?LG=HGMHIH?;>EB>?LE:RHNK<HGL<BHNLE>O>E?>>EBG@L:G=MAHN@AML
<5DH9F0CF@8/=9K5B8,9@:Z757M 
+NK PHKE= OB>P :L K>L>:K<A>K " $>REB@A>G =>`G>L BM BL [: ?K:F>PHKD MA:M MB>L >O>KRMABG@
MH@>MA>K MA:M :EEHPL NL MH NG=>KLM:G= LH<B>MR MA> PHKE= :G= HNK IE:<> BG BM :G= MA:M <HNE=
A>EI NL MH F:D> MA> <KBMB<:E =><BLBHGL PAB<A PBEE LA:I> HNK ?NMNK>\ %G ABL :KMB<E> 3A:M BL :
PHKE= OB>P $>REB@A>G <BMBG@ MA> PHKD H? >E@B:G IABEHLHIA>K (>H IHLM>E EBLML L>O>G ;:LB<
<HFIHG>GMLH?:I>KLHGZLPHKE=OB>P
 FH=>EH?MA>PHKE=AHPMA>PHKE=?NG<MBHGLAHPBMBLLMKN<MNK>=
 !QIE:G:MBHGH?MA>FH=>E
 "NMNKHEH@RPA>K>:K>P>@HBG@
 2:EN>L@HH=>OBE
 <MBHGIE:GLH?:<MBHG;:L>=HGHNKO:EN>L
 'GHPE>=@>MKN>:G=?:EL>
 NBE=BG@EH<DLPA:M?K:@F>GMLH?HMA>KLZPHKE=OB>PLA>EI>=NLLA:I>HNKL
0A>L> <HFIHG>GML <HO>K MA> ?NG=:F>GM:E JN>LMBHGL :;HNM >QBLM>G<> MA:M ANF:G ;>BG@L `G=
MA>FL>EO>LFNEEBG@HO>KBGMBF>JN>LMBHGLMA:MNEMBF:M>ER@NB=>;>EB>?LMAHN@AML:G=?>>EBG@L
0A> >Q>K<BL> ;>EHP BL ;:L>= HG $>REB@A>GZL :KMB<E> 3A>K>:L MABL >Q>K<BL> BL GHM : [I>KLHG:E
BGO>GMHKR\ I>K L> BM A:L O:EN> BG @NB=BG@ MA> E>:KG>K MH =BL<HO>KBG@ I>KA:IL LHF> ?HNG=:MBHG:E
BLLN>L MA:M <:G ABG=>K : LN<<>LL?NE :IIKH:<A MH HO>K<HFBG@ GHGIKH=N<MBO> :<MBHGL :G= A:;BML LN<A
:LIKH<K:LMBG:MBHG
"HK >Q:FIE> B? : I>KLHG A:L : PHKE= OB>P MA:M BL IHLMFH=>KG A>LA> OB>PL MA> PHKE= PBMA :
A>:OR =HL> H? LD>IMB<BLF :G= =BLMKNLM H? B=>HEH@B>L K:MBHG:EBMR :G= :;LHENM> MKNMA 0A>K>?HK> BM
FB@AM ;> >:LR MH LN;L<KB;> MH : [3A:MZL MA> NL>\ MAHN@AM :G= ?>>EBG@ PA>G BM <HF>L MH :<:=>FB<
:G=PHKDPHKE=GHKFLLN<A:L;>BG@HGMBF>:G=@>MMBG@HG>ZLPHKD=HG>
Note %M BL GHM G><>LL:KR AHP>O>K MH DGHP IK><BL>ER PAB<A PHKE= OB>P HG> A:L ;>>G
BGaN>G<>= ;R MH <HFIE>M> MA> >Q>K<BL> %G=>>= FHLM I>HIE> FHK> HK E>LL :;LHK; MA>BK PHKE= OB>PL
?KHF I:K>GML BGLMBMNMBHGL :G= MA> <NEMNK> BG PAB<A MA>R @K>P NI 0A> O:EN> BG DGHPBG@ LN<A
BG?HKF:MBHG :;HNM HG>L>E? BL BG NG=>KLM:G=BG@ AHP MH =>:E PBMA <>KM:BG :MMBMN=>L :G= ;>EB>?L MA:M
PHKD :@:BGLM LN<<>LL?NE E>:KGBG@ :G= LN<<>LL BG EB?> BG @>G>K:E %M BL :ELH O:EN:;E> MH DGHP PA:M
A:L <HGMKB;NM>= MH LN<<>LL?NE :MMBMN=>L :G= ;>EB>?L LH MA:M MA>L> <:G ;> :bKF>= :G= K>BG?HK<>= ?HK
?NMNK>LN<<>LL
+%P&
 +958H<95FH=7@96M"9M@=;<9B@=B?9856CJ9:CF5ACF989H5=@989LD@5B5H=CBC:KCF@8
J=9K5B8H<9G9J9B7CADCB9BHG<97=H9G
 F=9YMF9GDCB8HCMCIFH<CI;<HGCB957<C:H<9G9J9B7CADCB9BHG\:MCI<5J9BCH
;=J9BAI7<H<CI;<HHCGCA9C:H<9A5GC:M9HH5?9H=A9HC7CBG=89FH<9ABCK
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
-<F99HCXJ9G9BH9B79GK=@@@=?9@M69GIZ7=9BH 4=@3/161=;>=<3<B:CF5HCH5@C:
5DDFCL=A5H9@MG9BH9B79G\HKCI@869<9@D:I@HCBIA69FH<97CADCB9BHG-<=G
8C9GBCH<5J9HC697CAD@9H985G5B9GG5M
&3:4N1/1G
/>E?>b<:<RHKHG>ZLL>GL>H?;>BG@:;E>MH:<AB>O>@H:ELBL:G>LL>GMB:EBG@K>=B>GMBG:E>:KG>KZL
:;BEBMRMHLN<<>>=0AHN@AML:G=?>>EBG@LHGMABLMHIB<PAB<ALM>F?KHFHG>ZL;>EB>?LK>F>F;>K
MA>IRK:FB=BEENLMK:MBHG<HGMKB;NM>MHFHK>HKE>LLLN<<>LL
D>R>E>F>GMH?L>E?>b<:<RBLMA><HG<>IMH?EH<NLH?<HGMKHELMA>=>`GBMBHGBG=B<:M>LMA>
EH<NLHKIE:<>H?<HGMKHEBLNLN:EER>BMA>KBGM>KG:EHK>QM>KG:E;NMLHF>MBF>LBMBL;HMA
+;OBHNLERB?:I>KLHG;>EB>O>LMA:MA>LA>BLBG<HGMKHEH?LBMN:MBHGL:G=HNM<HF>L:GBGM>KG:E
EH<NL:<AB>OBG@@H:ELBLFHK>EBD>ER%?:I>KLHG;>EB>O>LA>LA>BL<HGMKHEE>=;R>QM>KG:E?HK<>L
:<AB>OBG@@H:ELBLE>LLEBD>ERNM>O>KRHG>>QI>KB>G<>L;HMABGM>KG:E:G=>QM>KG:E?HK<>L?HK
O:KBHNLK>:LHGL"HK>Q:FIE><AHHLBG@MH=HMA>KB@AMMABG@HGMA>CH;BL;:L>=HGMA>>QM>KG:E
<HGMKHEH?PHKDIE:<>KNE>L5>MHG>FB@AM:IIER?HKMA>CH;;:L>=HGHG>ZLBGM>KG:E;>EB>?MA:M
A>LA><:GLN<<>>=G=;HMABGM>KG:E:G=>QM>KG:EEH<BH?<HGMKHE:K>BGHI>K:MBHGPA>GHG>
<AHHL>LMH=HMA>KB@AMMABG@:M:GRMBF>;:L>=HGHG>ZLK>EB@BHNL;>EB>?L
"HK:FHK>=>M:BE>=>QIE:G:MBHG:G=MA>K>E:MBHGLABIH?L>E?>b<:<RMHEH<NLH?<HGMKHE
<HFIE>M>MABL>Q>K<BL>
+%P&
:H9F F958=B; H<9 89XB=H=CB C: H<=G 7CB79DH =B H<9 5FH=7@9 7=H98 56CJ9 5BGK9F H<9 :C@@CK=B; EI9GH=CBG
 %=GHH<F995HH=HI89G5B8CFD9FGD97H=J9GH<5H5D9FGCBK=H<5DF=A5F=@M=BH9FB5@@C7IG
C:7CBHFC@A=;<H<5J9H<5HK=@@<9@D<=A<9FGI77998=B@=:95B8K<M
 %=GHH<F995HH=HI89G5B8CFD9FGD97H=J9GH<5H5D9FGCBK=H<5DF=A5F=@M9LH9FB5@@C7IG
C:7CBHFC@A=;<H<5J9H<5HA=;<H<=B89F<=G<9FGI779GG5B8K<M
 %=GHH<F99=BGH5B79GK<9F96CH<=BH9FB5@5B89LH9FB5@@C7=C:7CBHFC@<9@D5D9FGCB
5B8K<M
7<5FHA=;<H<9@DMCICF;5B=N9MCIFF9GDCBG9
\'-+'% 1-+'% (-"
<5DH9F0CF@8/=9K5B8,9@:Z757M 
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH)F9J=CIG@MG<5F98
"CKHC%95FB%=?95)FCIH<CF986M)<M@@=G'=GG=@52
85DH=CBG <5B;98 KCF@8 J=9K =A5;9 F9ACJ98 CB9 9L9F7=G9 98=H98 @5B;I5;9 HC A5H7< IB=H 5B8
7<5DH9F
-<9KCF@8=B9M9A9AC=A5;96M7C@CF@=;<H2''
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
<5DH9F)FC7F5GH=B5H=CB
"HEEHPBG@ MA> BGMKH=N<MBHG MH IKH<K:LMBG:MBHG BG MA> 0BF> ):G:@>F>GM .>:EBMR <A:IM>K MABL
<A:IM>KIKHOB=>L:=>>I>K=BO>BGMHNG=>KLM:G=BG@IKH<K:LMBG:MBHG:G=`G=BG@LHENMBHGL?HKBM
D82<78?E +A *45*A 2;27<1. =+52,
86*27
HFIE>M> MA> >Q>K<BL> ;>EHP MH A>EI RHN LHEO> PA:M BL :K@N:;ER MA> GNF;>K HG> =>MKBF>GM MH
>_><MBO>E>:KGBG@:ML<AHHEAHF>:G=HKHGMA>CH;:D:IKH<K:LMBG:MBHG
0ABLI>KLHG:EBGO>GMHKRBL:;BM=B_>K>GM?KHFHMA>KLRHNF:RA:O>M:D>G%MBG<HKIHK:M>LO>KR
EBMME>:;HNMMA>NLN:E;:=A:;BMLNLI><MLPA>GBM<HF>LMHMA>[,\PHK=:G=BG<EN=>LFHK>HGMA>
HMA>KK>:LHGL?HKLN<A:A:;BM:LLN@@>LM>=BGMA>IK>OBHNL<A:IM>K:LP>EE:LHG>HKMPHHMA>K
IKH<K:LMBG:MBHGBG=N<>KLPAB<AA:O><KHII>=NIBGHNKGHPLH<B:EF>=B:L:MNK:M>=EBO>L
,>KA:ILMA>K>BLBG?:<MFHK>MHRHNK<A:EE>G@>LPBMAIKH<K:LMBG:MBHGMA:GMA>:LLNFIMBHGL:;HNM
E:SBG>LL=BLHK@:GBS:MBHG>M</>>PA:MRHNMABGD)HK>BFIHKM:GMERL>>PA:MRHN<:G=H:;HNM
BM
+%P&
CF957<=H9A7=F7@9CB9B8:99@:F99HC5885BM7CAA9BHGMCIK=G<,CA9H=A9GEI=7?
5BGK9F9L9F7=G9G@=?9H<=G>IGH8CBSH<5J99BCI;<C:2(.+D9FGCB5@F9GDCBG9CDH=CBG6IH
HFMBCHHCCJ9FH<=B?H<=B;G-<=G=G5:H9F5@@5G=AD@9GB5DG<CHC:K<9F9MCIF69@=9:G5B8
:99@=B;G5F95HH<=GACA9BH=BH=A9
\58A=H=H#IGH@=?99J9FMCB99@G9\:99@H<5H\5A @5NMK<9B=H7CA9GHC;9HH=B;AM
5GG=;BA9BHG5B8CFKCF?8CB9
V IGI5@@M
V GCA9H=A9G
V F5F9@M
V B9J9F
\5A8=GCF;5B=N98K<9B=H7CA9GHC;9HH=B;AM5GG=;BA9BHG5B8CFKCF?8CB9
V IGI5@@M
V GCA9H=A9G
V F5F9@M
V B9J9F
\;9H7CB:IG9856CIHK<5H\5AGIDDCG98HC8C:CFH<95GG=;BA9BHCFH5G?
V IGI5@@M
V GCA9H=A9G
V F5F9@M
V B9J9F
\<5J95<5F8H=A9G5M=B;TBCUHCCH<9FGK<=7<DIHGA969<=B8=BAMKCF?GHI8=9G
V ACGHC:H<9H=A9
V GCA9H=A9G
V F5F9@M
V B9J9F
 \ <5J9 H<=G G=B?=B; :99@=B; H<5H \ K=@@ GI77IA6 HC H<9 IGI5@ F95GCBG :CF DFC7F5GH=B5H=B; BC A5HH9F
K<5HH<9M5F9
V ACGHC:H<9H=A9
V GCA9H=A9G
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
V F5F9@M
V B9J9F
 \ >IGH 8CBSH H<=B? \ <5J9 H<9 CF;5B=N5H=CB5@ 56=@=H=9G HC 69 56@9 HC GHCD 5H @95GH GCA9 C: AM
DFC7F5GH=B5H=B;
V ACGHC:H<9H=A9
V GCA9H=A9G
V F5F9@M
V B9J9F
0<9B\K5G=B<=;<G7<CC@=HK5GBSH5DFC6@9AGHI8M=B;:CFACGHH9GHGH<9B=;<H69:CF9
V ACGHC:H<9H=A9
V GCA9H=A9G
V F5F9@M
V B9J9F
\KCF?69GHIB89FDF9GGIF9GC\H<=B?H<5HDFC7F5GH=B5H=B;=GF95@@M;CC8:CFA9
V ACGHC:H<9H=A9
V GCA9H=A9G
V F5F9@M
V B9J9F
 0<9B K<5H \ <5J9 HC GHI8M CF 577CAD@=G< =G >IGH BCH H<5H =ADCFH5BH HC A9 \ XB8 =H ACF9 H9ADH=B;
HCDFC7F5GH=B5H9
V ACGHC:H<9H=A9
V GCA9H=A9G
V F5F9@M
V B9J9F
\<5J95<5F8H=A9H5@?=B;AMG9@:=BHCA5=BH5=B=B;569HH9F5HH=HI8956CIH ./3 DFC7F5GH=B5H=B;
V ACGHC:H<9H=A9
V GCA9H=A9G
V F5F9@M
<5DH9F)FC7F5GH=B5H=CB 
V B9J9F
\H<=B?\<5J9ACF9H=A9HCXB=G<GCA9H<=B;H<5B\IGI5@@M8C
V ACGHC:H<9H=A9
V GCA9H=A9G
V F5F9@M
V B9J9F
 \H 5BBCMG A9 H<5H GCA9 =BGHFI7HCFG 5GG=;B GC AI7< <CA9KCF? K<9B \ <5J9 5 @=:9 CIHG=89 C:
G7<CC@HCC,C\69@=9J9H<5H=H75B69H<9=F:5I@HH<5H\<5J9HCDFC7F5GH=B5H9CB79FH5=BH<=B;G
V ACGHC:H<9H=A9
V GCA9H=A9G
V F5F9@M
V B9J9F
\5AJ9FMGC7=5@5B8GD9B8=B;H=A9K=H<AM:F=9B8GGCA9H=A9G;9HG=BH<9K5MC:8C=B;AMKCF?
V ACGHC:H<9H=A9
V GCA9H=A9G
V F5F9@M
V B9J9F
\75BSHG99AHCGH5M5K5M:FCAGC7=5@A98=5
V ACGHC:H<9H=A9
V GCA9H=A9G
V F5F9@M
V B9J9F
 "9F9 =G GCA9H<=B; CF D9F<5DG ACF9 H<5B CB9 BCH CB H<=G @=GH H<5H 5@GC 75IG9G A9 HC
DFC7F5GH=B5H9 )CGG=6@9 =GGI9G A=;<H =B7@I89 5 8=G56=@=HM CF GCA9 ?=B8 C: @95FB=B; 7<5@@9B;9
<CA9@9GGB9GG CF GCA9 CH<9F ?=B8 C: @=J=B; G=HI5H=CB 7<5@@9B;9 DF9;B5B7M KCF? <CIFG 5B8
F9GDCBG=6=@=H=9G5B8CFD9FGCB5@@=:9GHF9GG
444444444444444444444444444444444444444444444444444444444444444
V ACGHC:H<9H=A9
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
V GCA9H=A9G
V F5F9@M
V B9J9F
'(- -<=G 9L9F7=G9 =G BCH ;F5898 CB F9GDCBG9G -<9 5BGK9F ?9M HC H<=G D9FGCB5@ =BJ9BHCFM
=G HC ;9H F=;<H =BHC <9@D=B; H<9 @95FB9F GH5FH GC@J=B; GCA9 C: H<9G9 75IG9G C: DFC7F5GH=B5H=CB
L IKHFBL>= :;HO> E>MZL @>M LM:KM>= PBMA LHF> BFF>=B:M> LHENMBHGL :L P>EE :L LHF> I>KLI><MBO>L
MA:MFB@AMBGMBF>A>EIRHN:=CNLMRHNKMAHN@AML:G=?>>EBG@LK>@:K=BG@IKH<K:LMBG:MBHG
+%P&
\BGHFI7H=CBG
 FCAMCIFF9GDCBG9GHCH<99L9F7=G956CJ9G9@97HMCIFHCDXJ97<5@@9B;9GK<9B=H
7CA9GHCDFC7F5GH=B5H=B;F95H957<5FHGI7<5GH<=G6IH@95J9MCIFG9@:5AD@9GD579
HCX@@=BGC@IH=CBGMCIXB8
"%%'! ,(%.-\('





713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BHDF9J=CIG@MG<5F98
"CKHC%95FB%=?95)FCIH<CF986M)<M@@=G'=GG=@52
85DH=CBG +9ACJ98 CB9 9L9F7=G9 AC8=X98 5B 9L9F7=G9 F9ACJ98 =B:CFA5H=CB GD97=X7
HC %5B9 CAAIB=HM C@@9;9 CD=B=CB 5FH=7@9 5B8 GCA9 <MD9F@=B?G :CF 6FC589F 5I8=9B79
DIFDCG9
TC=HBCKU =A5;96M &5?@5M =G=BH<9 )I6@=7CA5=B
<5DH9F)FC7F5GH=B5H=CB 
<5DH9F0CF8GC:0=G8CA5B2CI
%=GH9BHC2CIFG9@:
Yuki Sasao
%M BL :EFHLM BFIHLLB;E> MH `G= MBF> :P:R ?KHF BG?HKF:MBHG LHNK<>L EBD> 02 IAHG>
:=O>KMBL>F>GML HK >O>G RHNK ?KB>G=L :G= ?:FBER BG MABL FH=>KG LH<B>MR :G RHN INM RHNKL>E? BG :
IE:<> MA:M A:L GH BG?HKF:MBHG :M :EEXRHN :EHG> CNLM RHNKL>E? %? GHM RHN LAHNE= MKRX`G=BG@ MABL
JNB>M F>GM:E LI:<> PBEE E>M RHN MH IK:<MB<> EBLM>GBG@ MH RHNKL>E? %M BL : PHG=>K?NE P:R MH `G= HNM
PAH RHN MKNER :K> +NK LH<B>MR A:L ;><HF> LH EHN= MA:M BM BL O>KR =Bb<NEM MH EBLM>G MH RHNK HPG
OHB<>:G=>QMK>F>ER>:LRMHEHL>BM
% :F :G BGM>KG:MBHG:E LMN=>GM ?KHF : O>KR LF:EE MHPG BG &:I:G :G= % :F MA> `KLM HG> :FHG@ FR
?:FBER F>F;>KL MH LMN=R :;KH:= 3A>G % MHE= I>HIE> MA:M % =><B=>= MH <HF> MH MA> 1GBM>= /M:M>L
MH LMN=R >O>KR LBG@E> HG> H? MA>F P:L LAH<D>= :G= @:O> F> MA>BK :=OB<> /HF> L:B= F>KB<:GL
:K> O>KR ;HLLR :G= M>G= MH EHHD =HPG HG I>HIE> /HF> L:B= % PHNE= GHM ;> :;E> MH `G= :GR CH;L
MA>K>
%M =H>L GHM F:MM>K PAH RHN :K> :G= PA:M MRI> H? <BK<NFLM:G<>L RHN :K> BG 5HN PBEE @>M LHF>
<HFF>GML:G=:=OB<>GHF:MM>KPA:MRHN=H
3:L MA> :=OB<> I>HIE> @:O> F> :<<NK:M> %ZF LHKKR ;NM FHLMER GH ,>HIE> % F>M BG MA> 1GBM>=
/M:M>L P>K> GB<> :G= MA> :=OB<> % K><>BO>= K>:EER =>I>G=>= HG PA>MA>K HK GHM MA> I>KLHG EHHD>=
=HPG HG HMA>KL F % LMKN@@EBG@ PBMA `G=BG@ : CH; *H )R F:CHK BG :<<HNGMBG@ IKHOB=>L F>
FHK> HIIHKMNGBMB>L MA:G % <:G M:D> (HHDBG@ ;:<D HG MA> <HFF>GML ?KHF FR ?KB>G=L :G= ?:FBER
%:FO>KR@K:M>?NEMA:M%P:L:;E>MHL>>PA:M%MKNERP:GM>=:G=LMB<DPBMAFR=><BLBHG
0A> K>:LHG % <HNE= MNG> HNM MAHL> G>@:MBO> OHB<>L P:L GHM ;><:NL> % :F EN<DR HK BGM>EEB@>GM %M
BL ;><:NL> % EBLM>G>= MH FRL>E?XFR HPG OHB<> $HP>O>K MABL =H>LGZM F>:G MA:M % =B=GZM EBLM>G MH
HMA>KL % <HGLB=>K>= PA:M I>HIE> L:B= MH F> :G= % NG=>KLMHH= MA>F % CNLM =B=GZM :@K>> PBMA MA>F
PAB<A P:L MA> FHLM =Bb<NEM I:KM %G MA> IKH<>LL H? ;NBE=BG@ FR HPG =><BLBHGL F:GR IB><>L H?
:=OB<> :<MN:EER A>EI>= F> :G= % F:=> LHF> <A:G@>L ;:L>= HG MA> :=OB<> ?KHF HMA>KL <HF;BG>=
PBMAFRHPGMAHN@AML
3AR P:L % :;E> MH LMB<D MH FR =><BLBHG LH MB@AM :G= EBO> MA> EB?> % P:GM>= %MZL ;><:NL> % M:ED>=
MHFRL>E?:G=:LD>=FRL>E?FBEEBHGLH?JN>LMBHGL
[3A:M=H%P:GMBGFR?NMNK>\
[ H%K>:EERG>>=BMHKCNLMP:GMBM\
[F%PA>K>%P:GM>=MH;>5>L*H3AR\
[3A>K>:F%@HBG@\
[3A:M:F%=HBG@\
[3A:MPHNE=A:II>GB?%=HMABL\
[3AR:F%=HBG@BM\
%M BL =Bb<NEM ?KNLMK:MBG@ :G= MBF><HGLNFBG@ MH `G= RHNK K:P OHB<> BG MABL O>KR GHBLR LH<B>MR
;NM BG =HBG@ LH RHN PBEE @>M MAKHN@A EB?> PBMA FBGBF:E K>@K>M :G= <HG`=>G<> BG PAH RHN :K> :G=
PA:M RHN :K> =HBG@ ,NEE RHNKL>E? :P:R ?KHF MA> F:LLBO> :FHNGM H? BG?HKF:MBHG M:ED MH LHF>
I>HIE> NG=>KLM:G= MA>F G>O>K B@GHK> MA>F :G= MA>G M:ED PBMA RHNKL>E? 0ABL BL RHNK EB?> :G=
RHN <:GGHM KNG :P:R ?KHF RHNKL>E? ?HK>O>K 5HNZ= ;>MM>K E>:KG AHP MH EBLM>G MH RHNKL>E? :G= ;>
:;E>MHLMB<DPBMARHNKHPGMAHN@AML>O>G:?M>K:<<>IMBG@PA:MHMA>KL:R
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH,<5F98DF9J=CIG@M
CIB85H=CBG C: 7589A=7 ,I779GG 0CF8G C: 0=G8CA 8=H98 6M -<CA5G )F=9GH9F GG5M 5IH<CF98 6M
2I?=,5G5C%=79BG92HHF=6IH=CB
<5DH9F0CF8GC:0=G8CA5B2CI%=GH9BHC2CIFG9@: 
<5DH9F-<95G=7GC:,HI8M,?=@@G
=A&8/4234$83/1%-%-"%18/46),,&/1'%3"43)&8/4234$83/4.$%123!.$8/46),,1%-%-"%1>
P.B?BCKB
% H?M>G LM:KM MABL L><MBHG H? FR <E:LL PBMA : JN>LMBHG 3AR =H LHF> LMN=>GML >:KG @HH= @K:=>L :G=
HMA>KL =H GHM GLP>KL O:KR /MN=>GML PBMA IHHK @K:=>L A:O> L:B= LMN=>GML PBMA @HH= @K:=>L :K>
;HKG ;HHD LF:KM /MN=>GML PBMA @HH= @K:=>L :GLP>K MA:M LMN=RBG@ :G= A:K= PHKD @HM MA>F MA>K>
3A:M=HRHNMABGD
!O>KRHG> EBD>L MH >:KG :G @K:=> >LIBM> MA> LMB@F: H? ;>BG@ : [G>K=\ BM ?>>EL @HH= MH K><>BO>
@HH= @K:=>L 0:D> IKB=> BG RHNK IK>I:K:MBHG M:D> IKB=> BG RHNK LMN=RBG@ :G= M:D> IKB=> BG RHNK
:<<HFIEBLAF>GML
% A:O> :ELH GHMB<>= HO>K MA> R>:KL PBMA FR <E:LL>L MA:M LMN=>GML DGHP F:GR H? MABG@L MA>R G>>=
MH=HBGHK=>KMH:<AB>O>@HH=@K:=>LWMA>RCNLM=HGZM:EP:RLI>K?HKFMA>F
3#@3>/@324=@/16:/AA
HFIE>M> RHNK :LLB@G>= K>:=BG@ :A>:= H? MA> =>:=EBG> "HEEHP MA> LREE:;NL LH MA:M RHNZEE A:O>
?:FBEB:KBMR PBMA PA:M MA> BGLMKN<MHK BL LI>:DBG@ :;HNM KBG@ RHNK <HNKL> LREE:;NL M>QM;HHD
GHM>;HHD :G= :GR A:G=HNML HK HMA>K BFIHKM:GM BG?HKF:MBHG ?HK >:<A I:KMB<NE:K <E:LL :EHG@ PBMA :
I>G :G= : IHLBMBO> :MMBMN=> ><HF> BGM>K>LM>= BG PA:M MA> BGLMKN<MHK A:L MH L:R > >:@>K MH E>:KG
/E>>I :=>JN:M>ER MA> GB@AM ;>?HK> <E:LL :G= >GLNK> RHN =H GHM :KKBO> MH <E:LL HG :G >FIMR LMHF:<A
):GR <HNKL>L ;HMA BG I>KLHG :G= HGEBG> NL> =B@BM:E IE:M?HKFL <:EE>= (>:KGBG@ ):G:@>F>GM
/RLM>FL ()/ !Q:FIE>L H? MA>L> :K> :GO:L E:<D;H:K= :G= )HH=E> %M BL BFIHKM:GM ?HK LMN=>GML
MH <A><D MA>BK >F:BE K>@NE:KER :L P>EE :L GGHNG<>F>GML HK GHMB`<:MBHGL ?KHF MA>BK BGLMKN<MHK
MAKHN@AMA>()/
BB3<2D3@G:/AA
MM>G=BG@ >:<A :G= >O>KR <E:LL K>JNBK>L : EHM H? L>E?=BL<BIEBG> :G= FHMBO:MBHG HBG@ LH PBEE A>EI
RHN K>F:BG >G@:@>= :G= BGOHEO>= BG <HNKL> MHIB<L IKHOB=> BGLB@AM BGMH PA:M RHNK BGLMKN<MHK
=>>FL FHLM BFIHKM:GM :EEHP RHN MH LN;FBM PHKD :G= K><>BO> RHNK @K:=>= :LLB@GF>GML :G= @BO>
RHNMA>HIIHKMNGBMRMHM:D>JNBSS>LHK>Q:FLMA:M<:GGHM;>F:=>NI
)BLLBG@ <E:LL BL : F:CHK ?:<MHK BG LMN=>GML =KHIIBG@ <HNKL>L HK K><>BOBG@ IHHK @K:=>L %G :==BMBHG
LMN=>GML :MM>FIMBG@ MH F:D> NI MA> PHKD ?KHF FBLLBG@ <E:LL H?M>G `G= BM HO>KPA>EFBG@ %MZL
<A:EE>G@BG@MH<:M<ANIB?P>@>M;>ABG=
&7B@=<B/<23<B3@
CB6=@JA&B=@G
I@@ 8=G7@CGIF9 \ @CJ98 HC G=H =B H<9 657? C: H<9 7@5GGFCCA K<9B \ K5G =B 7C@@9;9 \ :9@H ACF9 7CA:CFH56@9 657?
H<9F9 \ 8=8BSH K5BH HC A5?9 9M9 7CBH57H K=H< AM =BGHFI7HCF \ 8=8BSH K5BH HC 69 75@@98 CB IH \ @95FB98 H<5H =:
\ K5BH98 HC ;=J9 AMG9@: H<9 69GH CDDCFHIB=HM HC G99 <95F IB89FGH5B8 5B8 @95FB H<9B \ B99898 HC G=H =B H<9
:FCBH 5B8 79BH9F B8 =B CF89F HC A5?9 GIF9 \ G5H =B H<9 :FCBH 5B8 79BH9F \ B99898 HC 5FF=J9 HC AM 7@5GG9G
95F@M
% BGLMKN<M FR LMN=>GML MH [/BM PA>K>O>K RHN P:GM X LBM PA>K> RHN :K> FHLM <HF?HKM:;E>\ NM %
:ELH :LD MA>F MA:M B? MA>R P>K> MH :MM>G= : <HG<>KM ?HK MA>BK ?:OHKBM> :KMBLM PA>K> PHNE= MA>R EBD> MH
;> %MZL :EP:RL KB@AM BG ?KHGM H? MA> LM:@> ;><:NL> MA> ;>LM >QI>KB>G<> BL <EHL>LM MH MA> ;:G= 0A:MZL
PAR ?KHGM:G=<>GM>K MB<D>ML :K> MA> FHLM >QI>GLBO> 0A>K> :K> LHF> K>:LHGL LBMMBG@ BG MA> ;:<D
PHKDL ?HK LHF> LMN=>GML NM RHN KNG MA> KBLD H? LBMMBG@ ;>ABG= LHF>HG> RHN <:GGHM L>> HO>K
G= B? RHNZK> LBMMBG@ BG MA> ;:<D LH MA:M RHN <:G L>G= M>QM F>LL:@>L PBMAHNM ;>BG@ L>>G PHKD HG
LHF>MABG@ >EL> HK LH MA:M RHN <:G =BL>G@:@> GHM I:R :MM>GMBHG PBMAHNM MA> BGLMKN<MHK GHMB<BG@
MA>G RHNZK> LBMMBG@ BG MA> ;:<D ?HK MA> PKHG@ K>:LHGL .:MA>K MA:G AB=BG@ RHN P:GM MH <K>:M> MA>
;>LME>:KGBG@>GOBKHGF>GM?KHFL>>BG@:G=A>:KBG@I>KLI><MBO>L
'/93!=B3A7<:/AA
$>KF:GG !;;BG@A:NL : #>KF:G ILR<AHEH@BLM L<B>GMB`<:EER LMN=B>= AHP I>HIE> ?HK@>M BG MA> E:M>
ZL $> BL DGHPG ?HK ABL >QI>KBF>GML NLBG@ ABFL>E? :L : LN;C><M :G= M>LM>= ABL F>FHKR E>:KGBG@
GHGL>GL> LREE:;E>L +G> H? ABL ?:FHNL K>LNEML DGHPG :L MA> ?HK@>MMBG@ <NKO> LAHPL AHP FN<A
BG?HKF:MBHG BL ?HK@HMM>G JNB<DER :?M>K BM BL E>:KG>= 3BMAHNM K>OB>PBG@ P> PBEE ?HK@>M /BG<> P>
?HK@>M  H? MA> BG?HKF:MBHG P> M:D> BG :?M>K HGER  FBGNM>L PBMAHNM K>OB>P BM BL BFI>K:MBO>
MHM:D>GHM>LMHK>F>F;>K
<5DH9F-<95G=7GC:,HI8M,?=@@G 
'/93!=B3A*63<,=C@3%3/27<5
"HK MA> L:F> K>:LHG :L :;HO> BM BL A>EI?NE MH M:D> GHM>L PABE> RHN :K> K>:=BG@ MH F:QBFBS>
F>FHKBS:MBHG /HF>MBF>L <:EE>= <MBO> .>:=BG@ MA> @H:E BL MH LM:R ?H<NL>= HG MA> F:M>KB:E :G=
MH ;> :;E> MH K>?>K ;:<D MH GHM>L F:=> PABE> K>:=BG@ MH BFIKHO> K>M>GMBHG :G= LMN=R >b<B>G<R
HGZM F:D> MA> FBLM:D> H? >QI><MBG@ MH K>F>F;>K >O>KRMABG@ RHN :K> K>:=BG@ 0:DBG@ GHM>L
PA>GK>:=BG@K>JNBK>L>_HKM:G=>G>K@R>PBEEBG@MH=HBM:G=RHNZEEK>:IMA>;>G>`MLE:M>K
<=E*6/BB63/;>CA%3A=C@13A@3/<2*63@3'63G@3/<2(A3'63;
0A>K> :K> F:GR <:FINL K>LHNK<>L :M RHNK <HEE>@> HK NGBO>KLBMR :G= BMZL EBD>ER MA:M MA>R :K>
NG=>KNMBEBS>= ;><:NL> LMN=>GML =HGZM DGHP MA>R >QBLM PA>K> MA>R :K> HK MA:M FHLM H? MA>F :K>
?K>> "BG= HNM PA:M BL :O:BE:;E> MH RHN ;R <A><DBG@ RHNK L<AHHEZL P>;LBM> ?HK <:FINL K>LHNK<>L
HK LMN=>GM L>KOB<>L HK M:ED MH : <HNGL>EHK :;HNM PA:M K>LHNK<>L F:R ;> A>EI?NE ?HK RHN A><D
MH L>> PA>K> RHNK <:FINL A:L K>LHNK<>L ?HK HNGL>EBG@ 0NMHKBG@ 3KBMBG@ :LLBLM:G<> : (B;K:KR
=FBLLBHGL :G= .><HK=L HK .>@BLMK:KZL "BG:G<B:E B= $>:EMA >GM>K :K>>K >GM>K BL:;BEBMR
/NIIHKM/>KOB<>L:G=HMA>KLNIIHKML>KOB<>L
%3/2/<2%3B/7<,=C@&G::/0CA
%G :==BMBHG MH :<MBG@ :L : <HGMK:<M ;>MP>>G MA> BGLMKN<MHK :G= RHN MA> LREE:;NL BL :ELH H?M>G MA>
LHNK<> H? BG?HKF:MBHG ?HK ?:<NEMR <HGM:<M BG?HKF:MBHG M>QM;HHD BG?HKF:MBHG <E:LLKHHF ;>A:OBHK
>QI><M:MBHGL :MM>G=:G<> IHEB<R :G= <HNKL> H;C><MBO>L /HF> LMN=>GML F:D> MA> FBLM:D> H? LMNbG@
MA> LREE:;NL BG MA>BK ;:<DI:<D PA>G MA>R K><>BO> BM HG MA> `KLM =:R H? <E:LL :G= G>O>K M:D> :
EHHD :M BM :@:BG 0AHL> PAH <E>:KER K>:= BM D>>I BM ?HK K>?>K>G<> :G= K>OB>P BM ?K>JN>GMER `G=
MA>FL>EO>L FHK> IK>I:K>= ?HK <E:LL %? MA>K> BL LHF>MABG@ BG MA> LREE:;NL RHN =HGZM NG=>KLM:G= :LD
RHNKBGLMKN<MHK:;HNMBM;>?HK><E:LL:?M>K<E:LLHK=NKBG@MA>BKHb<>AHNKL
#:/13,=C@AA75<;3<BA=<,=C@ /AB3@/:3<2/@/<2@3/B3#:/<A4=@
=;>:3B7<5'63;34=@3'63G@3C3
.>F>F;>K MA> LMHKR :;HNM MA> LMB<DR GHM>L ,E:<> :EE H? RHNK :LLB@GF>GML ?HK :EE H? RHNK <E:LL>L
PBMA MA>BK =N> =:M>L BG RHNK <:E>G=:K IE:GG>K LF:KM IAHG> HK PA:M>O>K RHN NL> ?HK HK@:GBS:MBHG
/N<<>LL?NE LMN=>GML PBEE :ELH L<A>=NE> PA>G MH LM:KM MAHL> :LLB@GF>GML :G= A:O> :G B=>: H? AHP
EHG@BMPBEEM:D>MH<HFIE>M>MA>F
=;>:3B3::=4,=C@AA75<;3<BA
0A>K> PBEE ;> MABG@L MA:M RHN :K> FHK> BGM>K>LM>= BG =HBG@ MA:G RHNK :LLB@GF>GML :G= NG>QI><M>=
EB?> A:II>GBG@L MA:M PBEE <HF> NI /MN=>GML PAH >:KG @HH= @K:=>L A:O> MA> FHMBO:MBHG :G=
=BL<BIEBG>MH<HFIE>M>:EEH?MA>BK:LLB@GF>GML
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
/D3&=;3=<3%3/2,=C@#/>3@A34=@3,=C&C0;7B'63;
5HN FB@AM ;> LNKIKBL>= MH E>:KG AHP F:GR LMN=>GML MNKG BG I:I>KL PBMA LI>EEBG@ @K:FF:K :G=
ING<MN:MBHG >KKHKL MA:M <HNE= A:O> ;>>G >:LBER <HKK><M>= ;R NLBG@ : LI>EE<A><D>K IKH@K:F HK
A:OBG@ LHF>HG> K>:= RHNK I:I>K ):GR L<AHHEL H_>K PKBMBG@ <>GM>KL HK MNMHKL PAH PBEE K>:= RHNK
I:I>K :G= @BO> ?>>=;:<D F:D> LN@@>LMBHGL :G= A>EI LA:I> B=>:L 0:D> :=O:GM:@> H? MA>L> L>KOB<>L
B? MA>R :K> H_>K>= GHMA>K LMK:M>@R BL MH K>:= RHNK I:I>K :EHN= MH RHNKL>E? 5HN F:R <:M<A >KKHKL
PA>G RHN K>:= :EHN= MA:M RHN FB@AM GHM <:M<A PA>G K>:=BG@ RHNK PKBMBG@ .>F>F;>K MA:M BM BL
:EP:RLMA>LMN=>GMLZK>LIHGLB;BEBMRMHA:O>I:I>KLIKHH?K>:=GHMLHF>HG>>EL>ZL
A9$C3AB7=<A
):GR LMN=>GML ?>>E EBD> MA>R :K> MA> HGER HG> MA:M A:L : JN>LMBHG HK MA> HGER HG> MA:M =H>LGZM
NG=>KLM:G= LHF>MABG@ BG <E:LL % >G<HNK:@> RHN MH :LD JN>LMBHGL =NKBG@ <E:LL >LI><B:EER B? RHNK
BGLMKN<MHK >G<HNK:@>L MA>F %? GHM F:D> MA> >_HKM MH :LD RHNK JN>LMBHGL ;>?HK> HK :?M>K <E:LL HK
=NKBG@RHNKBGLMKN<MHKLZHb<>AHNKL
%? RHN M:D> : <E:LL H_>K>= HGEBG> % LN@@>LM :LDBG@ : EHM H? JN>LMBHGL OB: MA> IK>?>KK>= F>MAH=
RHNK BGLMKN<MHK K><HFF>G=L /BG<> MA> =>EBO>KR F>MAH= BL =B_>K>GM MH PA:M FHLM LMN=>GML :K> NL>=
MH % ;>EB>O> BM BL G:MNK:E ?HK LMN=>GML BG HGEBG> <HNKL>L MH A:O> FHK> JN>LMBHGL +GEBG> LMN=>GML
F:R :LD JN>LMBHGL MH NG=>KLM:G= MA> F:M>KB:E :G= MH ;> :;E> MH LN<<>LL?NEER G:OB@:M> MAKHN@A MA>
<HNKL><HGM>GM
%GLB=> BG?HKF:MBHG % >QI><M LMN=>GML MH :LD JN>LMBHGL ?HK ;HMA BG I>KLHG :G= HGEBG> <HNKL>L %
M>:<A
=;>:3B3::AA75<32%3/27<5/B'63'7;3PBPAAA75<32
HEE>@> <HNKL>L A:O> FN<A FHK> :LLB@G>= K>:=BG@ MA:G PA:M FHLM AB@A L<AHHE LMN=>GML :K>
:<<NLMHF>= MH :G= BM <:G M:D> : PABE> MH ;><HF> <HF?HKM:;E> PBMA MA> PHKDEH:= /HF> LMN=>GML
?:EE ;>ABG= >:KER BG D>>IBG@ NI PBMA MA> K>:=BG@ K>JNBK>F>GML :G= HMA>KL ?:BE MH K>:= BM :M :EE
5HN PBEE ;> FHLM IK>I:K>= ?HK RHNK <E:LL :G= ?HK E>:KGBG@ B? RHN <HFIE>M> MA> K>:=BG@ :LLB@G>=
;>?HK> RHNK <E:LL /M:RBG@ HG MHI H? RHNK LREE:;NL :G= <E:LL <:E>G=:K PBEE A>EI RHN ;> :P:K> H? RHNK
K>:=BG@ :LLB@GF>GM =>:=EBG>L 0A>K> BL : =B_>K>G<> BG :LLB@G>= K>:=BG@ ;>MP>>G AB@A L<AHHE :G=
<HEE>@> %G AB@A L<AHHE B? : M>:<A>K @:O> : A:G=HNM MH K>:= BG <E:LL LMN=>GML PHNE= H?M>G K>:= BM
=NKBG@ <E:LL MH IK>I:K> MH I:KMB<BI:M> BG : <E:LL =BL<NLLBHG %G <HEE>@> FHK> K>:=BG@ BL :LLB@G>= PBMA
MA> >QI><M:MBHG BM PBEE ;> =HG> HNMLB=> H? MA> <E:LLKHHF %M BL : ;B@ :=CNLMF>GM LMN=>GML G>>= MH
F:D>BGHK=>KMH;>LN<<>LL?NE
&BC2G@=C>A
%M A:L ;>>G FR H;L>KO:MBHG MA:M HG> H? MA> K><>GM @>G>K:MBHG:E =B_>K>G<>L BL MA:M LMN=>GML LMN=R
E>LL BG @KHNIL MA:G MA>R NL>= MH )R :=OB<> ?HK RHN BL MH LMN=R BG MA> >GOBKHGF>GM MA:M PHKDL ;>LM
?HK RHN ;NM >GLNK> MA:M RHN MKR : LMN=R @KHNI >LI><B:EER B? RHN :K> M:DBG@ : <E:LL BG : LN;C><M BG
<5DH9F-<95G=7GC:,HI8M,?=@@G 
PAB<A RHN :K> GHM LMKHG@ /MN=R @KHNIL <:G :EEHP ?HK LA:K>= K>LHNK<>L G>P I>KLI><MBO>L :GLP>KL
?HKJN>LMBHGL?:LM>KE>:KGBG@BG<K>:L>=<HG`=>G<>:G=BG<K>:L>=FHMBO:MBHG
+%P&
#%'&BC2G@3/I3:>'@/<
F95H9 5 D@5B :CF -F5B CB <CK HC CF;5B=N9 5 GHI8M 5F9 =B <9F 6IGM <CA9 K<9F9 G<9 @=J9G K=H< G=L
A9A69FGC:<9F:5A=@M
-F5B =G 5 XFGH M95F 7C@@9;9 GHI89BH :FCA /=9HB5A ,<9 <5G 699B =B H<9 ., K=H< <9F :5A=@M :CF H<F99
M95FG 5B8 F979BH@M D5GG98 H<9 B;@=G< %5B;I5;9 %95FB9F 7@5GG9G 5H H<9 HCDACGH @9J9@ GC BCK G<9
@CC?G:CFK5F8HCDIFGI=B;<9F89;F99=BIG=B9GG&5B5;9A9BH
,<9 @=J9G K=H< G=L CH<9F :5A=@M A9A69FG <9F ACH<9F :5H<9F ;F5B8ACH<9F 5B8 H<F99 MCIB;9F G=6@=B;G
5;98   5B8  -<9=F <CA9 =G @C75H98 F=;<H B9LH 8CCF HC H<9 :5A=@M F9GH5IF5BH -<=G A5?9G =H
7CBJ9B=9BH :CF -F5B 5B8 <9F D5F9BHG HC KCF? H<9=F F9;I@5F G<=:HG 5B8 HC X@@ =B =: CB9 CF H<9 CH<9F =G =@@
-F5B =G 5@GC F9GDCBG=6@9 5H H=A9G HC <9@D <9F MCIB;9F G=6@=B;G K=H< H<9=F <CA9KCF? 5B8CF H5?9 H<9A
HC G7<CC@ 5B8 CH<9F 57H=J=H=9G =: <9F D5F9BHG 5F9 6IGM -<=G IGI5@@M C77IFG 5H D95? H=A9G :CF 7IGHCA9FG
=B H<9 F9GH5IF5BH "9F ;F5B8ACH<9F <9@DG CIH K<9B G<9 75B 6IH 5FH<F=H=G Y5F9IDG DF9J9BH <9F :FCA
KCF?=B;5GAI7<5GG<9KCI@8@=?9
-F5B 8C9G <5J9 5 GA5@@ 698FCCA HC <9FG9@: 6IH =H 5@GC GCA9H=A9G G9FJ9G 5G 5 GHCF5;9 FCCA :CF
F9GH5IF5BHGIDD@=9GACGH@MD5D9F;CC8GGC=H75B;9H7FCK898
,<9 =G 5BH=7=D5H=B; G9HH=B; ID 5B 9[97H=J9 <CA9KCF?GHI8M 5F95 :CF K<5H G<9 ?BCKG K=@@ GCCB 697CA9
ACF9C:5B=BH9BG=J97CIFG9@C58
+%P&
#%'&BC2G@=C>I3:>'63B6:3B3A
#96 B8F9K 5B8 '9@GCB 5F9 XFGH M95F GHI89BHG 5H H<9 IB=J9FG=HM CB GDCFHG G7<C@5FG<=DG #96 :CF
65G?9H65@@ B8F9K :CF H9BB=G 5B8 '9@GCB :CF HF57? 5B8 X9@8 -<9M G<5F9 5B 5D5FHA9BH B95F H<9
7C@@9;9 GDCFHG 7CAD@9L -<9M 5F9 5@@ H5?=B; &5H<  H<=G H9FA 5B8 F95@=N9 H<5H :CFA=B; 5 GHI8M ;FCID
5GH<9=F=BGHFI7HCF9B7CIF5;989J9FMCB9HC8CKCI@8F95@@M<9@DH<9AHCC
(B9 C: H<9 DFC6@9AG =B ;9HH=B; 5 ;FCID ;C=B; =G H<5H H<9M 5F9 5@@ 6=; :5BG C: ,)' 5B8 957< CB9 :5JCFG
58=[9F9BHGDCFHGCH<9H9@9J=G=CBH9B8GHC69CB@CB;P5B8@CI8
-<9M 5@GC 9B>CM HFM=B; CIH 5@@ H<9 F9GH5IF5BHG =B H<=G GCIH<9FB 7=HM K<=7< =G :5ACIG :CF <5J=B; H<9 69GH
65F697I9 >C=BHG =B H<9 B5H=CB -<9M <5J9 75@7I@5H98 H<5H H<9F9 5F9 5H @95GH G9J9B F9GH5IF5BHG B95F6M
H<9MK5BHHC;9HHC?BCK
B8H<9BH<9F95F9H<CG975ADIGD5FH=9GCB F=85M5B8,5HIF85MB=;<HGW
@H<CI;< H<9 A9B 5F9 <=;<@M ACH=J5H98 HC 9J9BHI5@@M XB=G< H<9=F 89;F99G =B 6IG=B9GG 7I@=B5FM 5FHG
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
5B8 97CBCA=7G H<9M 7CI@8 IG9 GCA9 58J=79 CB <CK HC :CFA 5 IG9:I@ GHI8M ;FCIDP5B8 <CK HC GH=7?
K=H<=HD5FH=7I@5F@M69:CF9H<9=FGDCFHGDFC;F5AG?=7?=BHC<=;<;95F
%3D73E4=@F/;A
,K>I:K:MBHG ?HK :G >Q:F LAHNE= ;>@BG HG MA> `KLM =:R H? <E:LL GHM PA>G MA> >Q:F BL :GGHNG<>=
GHKMA>GB@AM;>?HK>:G>Q:F.>OB>PRHNKGHM>L?K>JN>GMERMHD>>IF:M>KB:E?K>LABGRHNKA>:=
&1632C:3'7;34=@&BC2G7<5
%MZL >:LR MH INM H_ LMN=RBG@ B? BMZL GHM LHF>MABG@ P> L<A>=NE> EH<D LI><B`< MBF>L :G= =:RL ?HK
LMN=RBG@,NMMA>MBF>LHGRHNK<:E>G=:K/MB<DMHMA>L<A>=NE>
&BC2GP</=1/B7=</<2B/'7;3'6/BPA3AB4=@,=C
/HF> LMN=>GML LMN=R ;>LM BG MA> FHKGBG@ :G= LHF> :M GB@AM /HF> >Q<>E :M : <H_>> LAHI :G=
HMA>KL :M MA> EB;K:KR 0A> IE:<> :G= MBF> BG PAB<A LMN=>GML H?M>G LMN=R BL NLN:EER MA> FHLM
<HGO>GB>GM ?HK MA>F /MN=>GML H?M>G `G= MA>L> <HGO>GB>GM IE:<>L :G= MBF>L F:R :ELH ;> ?NEE H?
=BLMK:<MBHGL :G= MANL :K> GHM @HH= <AHB<>L ?HK MA>F MH LMN=R %MZL PHKMA MA> >_HKM MH LMN=R :M MA>
MBF> :G= IE:<> MA:M PBEE ;> FHLM IKH=N<MBO> ?HK RHN "HK FHLM LMN=>GML BM BL ;>LM MH MNKG H_ MA>
<>EE IAHG> :G= 02 :G= MH D>>I H_ MA> %GM>KG>M :G= LH<B:E F>=B: NGE>LL BM =BK><MER K>E:M>L MH RHNK
PHKD
'7>A4=@O31B7D3P<27D72C/:&BC2G&>/13A
D5=<<.:.--.;4E +A
9.7529*:<&.,<8:; 2;27<1. =+52,
86*27
<5DH9F-<95G=7GC:,HI8M,?=@@G 
)HLM LMN=>GML FHK> HK E>LL M:D> PA:M MA>R <:G @>M PA>G BM <HF>L MH LMN=R :K>:L /<AHHEL NLN:EER
H_>K : O:KB>MR H? GHHDL :G= <K:GGB>L ?HK LMN=>GML MH ANGD>K =HPG :G= @>M MA>BK :LLB@GF>GML =HG>
0A> L<AHHE EB;K:KR BL : @HH= :G= JNB>M IE:<> ):GR <HFFHG :K>:L >EL>PA>K> HG <:FINL A:O>
M:;E>L <A:BKL <HN<A>L :G= EHNG@>L MH :<<HFFH=:M> E>:KG>KL NM FHLM LMN=>GML >G= NI =HBG@ MA>
F:CHKBMRH?MA>BKHNMH?<E:LLPHKD:MAHF>
$HF> >GOBKHGF>GML F:R ;> EBFBM>= BG M>KFL H? IKHOB=BG@ :EE H? MA> K><HFF>G=>= :LI><ML H? :
@HH= LMN=R LI:<> ;NM F:GR H? MA> K><HFF>G=:MBHGL <:G ;> >BMA>K BFIE>F>GM>= HK :=:IM>= ?KHF
PA:M : LMN=>GM A:L HG A:G= HK PA:M <:G ;> BFIKHOBL>= GH F:MM>K PA:M >GOBKHGF>GM A> HK LA> BL
EBOBG@ BG !E>F>GML <HG=N<BO> MH : FHK> >_><MBO> LMN=RAHF>PHKD >QI>KB>G<> BG<EN=> LN<A MABG@L
:L @HH= EB@AMBG@ :FIE> LNIIEB>L <HF?HKM:;E> L>:MBG@ :=>JN:M> LI:<> :G= I>KLHG:EBSBG@ MA> LMN=R
:K>:MH:==:MHN<AH?BGLIBK:MBHG:G=FHMBO:MBHG
+%P&
)+-
9G7F=69MCIF7IFF9BHGHI8M5F955H<CA9PH<9;CC8H<9658H<9I;@M9H<CFCI;<
)+-
%=GH 5G A5BM K5MG MCI H<=B? MCI 75B F95@=GH=75@@M =ADFCJ9 7<5B;9 CF GH5FH CJ9FW MCIF GHI8M 5F95
+9A9A69F MCI A=;<H BCH <5J9 H<9 58J5BH5;9 C: 5 K<C@9 FCCA CF 9J9B 5 7CFB9F C: 5 FCCA 6IH
H<9F95F9GH=@@GCA97<5B;9GMCI75BA5?9HC7F95H95ACF99[97H=J9GHI8M9BJ=FCBA9BH
CB6=@JA&B=@G
\ 8=8 ACGH C: AM GHI8M=B; =B 7C@@9;9 =B AM 8CFA FCCA 5H AM <CIG9 CIHG=89 =: =H K5G 5 B=79 85M CF 5H 5 7C[99
G<CD "CK9J9F =: H<9F9 K5G GCA9H<=B; \ ?B9K \ 56GC@IH9@M <58 HC ;9H 8CB9 P F958 5 7<5DH9F XB=G< 5 D5D9F
CF 7CAD@9H9 AM DF9D5F5H=CB :CF 5B 9L5A \ KCI@8 <958 HC CB9 D@579 &7"9BFM @=6F5FM \H K5G K<5H \ 75@@ AM
;CHC D@579 \ K5G 56@9 HC 7CB79BHF5H9 5H 5 <=;<9F @9J9@ H<9F9 \ K5G 56@9 HC 6@C7? CIH 5@@ CH<9F 8=GHF57H=CBG
5B8 >IGH :C7IG CB H<9 H5G? 5H <5B8 2CI A5M 69 H<=B?=B; K<M 8=8BSH <9 GHI8M H<9F9 5@@ H<9 H=A9 ,CA9H=A9G
=H K5GBSH 7CBJ9B=9BH B8 GCA9H=A9G =H K5GBSH B979GG5FM \ K5G 56@9 HC 697CA9 5B 9LD9FH CB <CK K9@@ \
B99898 HC ?BCK GCA9H<=B; 5B8 <CK AI7< \ 7CI@8 ;9H 8CB9 =: \ K5G 5H &7"9BFM :CF 5 7CID@9 C: <CIFG 'CH9
H<5H \ 8=8BSH DFC7F5GH=B5H9 5B8 H<9B HFM HC 7F5A 9J9FMH<=B; =B 5H &7"9BFM +5H<9F \ KCI@8 D@579 H<9 XB=G<=B;
HCI7<9GCBK<5H<585@F958M699BGHI8=98CFKCF?98CB
=<JB=<GB67<51/23;71/::GK/:4/AA32L
$:E?:LL>=BL=>`G>=:LIHHKERHKBG<HFI>M>GMER=HG>
0ABGD H? BM MABL P:R 5HNZO> F:=> MA> =><BLBHG MH <HF> MH <HEE>@> 5HNZK> BGO>LMBG@ MBF>
>G>K@R :G= FHG>R BGMH RHNK <HFFBMF>GM 3AR PHNE= RHN P:GM MH A:E?:LL BM /MN=>GML PAH
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
FBLL <E:LL MNKG BG PHKD E:M> HK P:BM NGMBE MA> E:LM FBGNM> :K> A:E?:LLBG@ BM ):D> <HEE>@> : IKBHKBMR
:G==HRHNK;>LMBG:EEH?RHNK<HEE>@>PHKD:G=IK>I:K:MBHG
IIER MA>L> ;:LB< IKBG<BIE>L :G= RHN PBEE ;> @BOBG@ RHNKL>E? MA> ;>LM HIIHKMNGBMR MH :<AB>O>
LN<<>LL G= %ZEE E>M RHN BG HG : EBMME> L><K>M :IIER MABL MH :EE :LI><ML GHM CNLM :<:=>FB<L :G= RHNZEE
`G=LN<<>LLBGEB?>
713<A3A/<2BB@70CB7=<A
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2
@=79BG987CBH9BHDF9J=CIG@MG<5F98
"CKHC%95FB%=?95)FCIH<CF986M)<M@@=G'=GG=@52
85DH=CBG L9F7=G9G :CF ,HI8M !FCIDG 5B8 -=DG :CF [97H=J9 \B8=J=8I5@ ,HI8M F95G 58898 :FCA
%9GGCB,HI8MF95G5B8,HI8M!FCIDG
T@IHH9F9889G?U =A5;96M (D9B@=D5FH/97HCFG =G=BH<9 )I6@=7CA5=B
<5DH9F-<95G=7GC:,HI8M,?=@@G 
(<7B=::3533D3:@7B71/:
'67<97<5/<2%3/27<5
3/@<7<5"0831B7D3A
:H9FMCI<5J97CAD@9H98H<=GIB=HMCIG<CI@86956@9HC
V 9G7F=69<CKHCIG9+958=B;DDF9BH=79G<=D5BBCH5H=CBGHF5H9;=9G
V LD@5=B <CK HC ;9H H<9 ACGH CIH C: MCIF H9LH6CC?G 6M @95FB=B; <CK HC G?=A 5B8 <CK HC XB8
CIH5@@C:H<9F9GCIF79GMCIFH9LH6CC?GC[9F
V LD@5=B HC F958 7@CG9@M :CF @=H9F5HIF9 7@5GG9G 5B8 CH<9F 7@5GG9G K<9F9 @=H9F5HIF9 =G =B7@I898 K=H<
H<9F958=B;G
V =G7IGG <CK HC ;9H H<9 ACGH CIH C: MCIF A5H< 5B8 G7=9B79 A5H9F=5@G 5B8 <9@D K=H< GHI8M=B;
:CFH9GHG=BH<9G9GI6>97HG
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BHDF9J=CIG@MG<5F98
"CKHC%95FB%=?95)FCIH<CF986M)<M@@=G'=GG=@52
<5DH9F0CF8GC:0=G8CA-<=B?=B;
F=H=75@@M5B8F95H=J9@M
Dr. Andrew Robert Baker
KBMB<:E :G= <K>:MBO> MABGDBG@ LDBEEL :K> I>KA:IL MA> FHLM ?NG=:F>GM:E LDBEEL BGOHEO>= BG F:DBG@
CN=@F>GML :G= LHEOBG@ IKH;E>FL 0A>R :K> LHF> H? MA> FHLM BFIHKM:GM LDBEEL % A:O> >O>K
=>O>EHI>=%NL>MA>F>O>KR=:R:G=<HGMBGN>MHPHKDMHBFIKHO>MA>F;HMA
0A> :;BEBMR MH MABGD <KBMB<:EER :;HNM : F:MM>KXMH :G:ERS> : JN>LMBHG LBMN:MBHG HK IKH;E>F =HPG
MH BML FHLM ;:LB< I:KMLXBL PA:M A>EIL NL >O:EN:M> MA> :<<NK:<R :G= MKNMA?NEG>LL H? LM:M>F>GML <E:BFL
:G= BG?HKF:MBHG P> K>:= :G= A>:K %M BL MA> LA:KI DGB?> MA:M PA>G AHG>= L>I:K:M>L ?:<M ?KHF
`<MBHG AHG>LMR ?KHF EB>L :G= MA> :<<NK:M> ?KHF MA> FBLE>:=BG@ 3> :EE NL> MABL LDBEE MH HG> =>@K>>
HK :GHMA>K :EFHLM >O>KR =:R "HK >Q:FIE> P> NL> <KBMB<:E MABGDBG@ >O>KR =:R :L P> <HGLB=>K MA>
E:M>LM <HGLNF>K IKH=N<ML :G= PAR HG> I:KMB<NE:K IKH=N<M BL MA> ;>LM :FHG@ BML I>>KL %L BM : JN:EBMR
IKH=N<M ;><:NL> : <>E>;KBMR >G=HKL>L BM ><:NL> : EHM H? HMA>K I>HIE> F:R A:O> NL>= BM ><:NL> BM
BL F:=> ;R HG> <HFI:GR O>KLNL :GHMA>K +K I>KA:IL ;><:NL> BM BL F:=> BG HG> <HNGMKR HK :GHMA>K
0A>L>:K>JN>LMBHGLK>IK>L>GM:MBO>H?<KBMB<:EMABGDBG@
0A> :<:=>FB< L>MMBG@ =>F:G=L FHK> H? NL BG M>KFL H? <KBMB<:E MABGDBG@ MA:G >O>KR=:R EB?> %M
=>F:G=L MA:M P> >O:EN:M> BG?HKF:MBHG :G= :G:ERS> : FRKB:= H? BLLN>L %M BL MA> >GOBKHGF>GM PA>K>
HNK <KBMB<:E MABGDBG@ LDBEEL <:G ;> MA> =B_>K>G<> ;>MP>>G LN<<>LL :G= ?:BENK> %G MABL >GOBKHGF>GM
P> FNLM <HGLB=>K BG?HKF:MBHG BG :G :G:ERMB<:E <KBMB<:E F:GG>K 3> FNLM :LD JN>LMBHGLX3A:M
BL MA> LHNK<> H? MABL BG?HKF:MBHG %L MABL LHNK<> :G >QI>KM HG> :G= PA:M F:D>L BM LH K> MA>K>
FNEMBIE> I>KLI><MBO>L MH <HGLB=>K HG :G BLLN> H FNEMBIE> LHNK<>L :@K>> HK =BL:@K>> HG :G BLLN>
H>L JN:EBMR K>L>:K<A LN;LM:GMB:M> BG?HKF:MBHG HK HIBGBHG H % A:O> #0; I>KLHG:E ;B:L>L MA:M F:R
:_><M FR <HGLB=>K:MBHG H? MABL BG?HKF:MBHG %M BL HGER MAKHN@A INKIHL>?NE ?K>JN>GM BGM>GMBHG:E
JN>LMBHGBG@ LN<A :L MABL MA:M P> <:G LA:KI>G HNK <KBMB<:E MABGDBG@ LDBEEL :G= BFIKHO> :L LMN=>GML
E>:KG>KL :G= K>L>:K<A>KL >O>EHIBG@ FR <KBMB<:E MABGDBG@ LDBEEL HO>K : MP>GMR R>:K I>KBH= :L
: LMN=>GM BG AB@A>K >=N<:MBHG >G:;E>= F> MH <HFIE>M> : JN:GMBM:MBO> =BLL>KM:MBHG BG<EN=BG@
:G:ERSBG@K>L>:K<A:G=<HFIE>MBG@LM:MBLMB<:E:G:ERLBL:G=>:KGBG@FR,A BG
3ABE> <KBMB<:E MABGDBG@ :G:ERS>L BG?HKF:MBHG :G= KHHML HNM MA> MKN> G:MNK> :G= ?:<>ML H?
IKH;E>FL BM BL %4'#6+8' MABGDBG@ MA:M =KBO>L IKH@K>LL ?HKP:K= PA>G BM <HF>L MH LHEOBG@ MA>L>
IKH;E>FL !Q<>IMBHG:E <K>:MBO> MABGD>KL :K> I>HIE> MA:M BGO>GM G>P LHENMBHGL MH >QBLMBG@ IKH;E>FL
MA:M =H GHM K>ER HG I:LM HK <NKK>GM LHENMBHGL 0A>R :K> MA> HG>L PAH BGO>GM LHENMBHG PA>G
>O>KRHG> >EL> BL LMBEE :K@NBG@ ;>MP>>G :G=  K>:MBO> MABGDBG@ LDBEEL BGOHEO> NLBG@ LMK:M>@B>L MH
<E>:K MA> FBG= LH MA:M HNK MAHN@AML :G= B=>:L <:G MK:GL<>G= MA> <NKK>GM EBFBM:MBHGL H? : IKH;E>F
:G=:EEHPNLMHL>>;>RHG=;:KKB>KLMA:MIK>O>GMG>PLHENMBHGL?KHF;>BG@?HNG=
K:BGLMHKFBG@ BL MA> LBFIE>LM >Q:FIE> H? BGM>GMBHG:E <K>:MBO> MABGDBG@ MA:M FHLM I>HIE> A:O>
MKB>= :M E>:LM HG<> 3BMA MA> JNB<D @>G>K:MBHG H? F:GR B=>:L :M HG<> P> <:G ;EH<DHNM HNK ;K:BGZL
G:MNK:E M>G=>G<R MH EBFBM HNK LHENMBHG@>G>K:MBG@ :;BEBMB>L LH P> <:G :<<>LL :G= <HF;BG> F:GR
IHLLB;E> LHENMBHGLMAHN@AML :G= BGO>GM G>P HG>L %M BL LHKM H? EBD> LIKBGMBG@ MAKHN@A : K:<>ZL `GBLA
EBG> HGER MH `G= MA>K> BL G>P MK:<D HG MA> HMA>K LB=> :G= P> <:G D>>I @HBG@ B? P> <AHHL> L
PBMA <KBMB<:E MABGDBG@ AB@A>K >=N<:MBHG ;HMA =>F:G=L <K>:MBO> MABGDBG@ ?KHF NL :G= BL MA> I>K?><M
IE:<> MH IK:<MB<> :G= =>O>EHI MA> LDBEE !O>KRMABG@ ?KHF PHK= IKH;E>FL BG : F:MA <E:LL MH HIBGBHG
HK I>KLN:LBO> LI>><A>L :G= I:I>KL <:EE NIHG HNK <K>:MBO> MABGDBG@ LDBEEL MH @>G>K:M> G>P LHENMBHGL
:G= I>KLI><MBO>L BG K>LIHGL> MH HNK IKH?>LLHKZL =>F:G=L K>:MBO> MABGDBG@ LDBEEL :LD JN>LMBHGL LN<A
:LX3A:M B? 3AR GHM 3A:M >EL> BL HNM MA>K> :G % <HF;BG> I>KLI><MBO>LLHENMBHGL 3A:M BL
LHF>MABG@ GH HG> >EL> A:L ;KHN@AMNI 3A:M BL ;>BG@ ?HK@HMM>GB@GHK>= 3A:M :;HNM 999999 %M
BLMA>HI>GBG@H?=HHKL:G=HIMBHGLMA:M?HEEHPLIKH;E>FB=>GMB`<:MBHG
HGLB=>K :G :LLB@GF>GM MA:M K>JNBK>= RHN MH <HFI:K> MPH =B_>K>GM :NMAHKL HG MA> MHIB< H?
>=N<:MBHG :G= L>E><M :G= =>?>G= HG> :L ;>MM>K *HP :== MH MABL L<>G:KBH MA:M RHNK IKH?>LLHK
<E>:KER IK>?>KL HG> :NMAHK HO>K MA> HMA>K 3ABE> <KBMB<:E MABGDBG@ <:G @>M RHN :L ?:K :L B=>GMB?RBG@
MA> LBFBE:KBMB>L :G= =B_>K>G<>L ;>MP>>G MA>L> :NMAHKL :G= >O:EN:MBG@ MA>BK F>KBML BM BL <K>:MBO>
MABGDBG@ MA:M RHN FNLM NL> B? RHN PBLA MH <A:EE>G@> RHNK IKH?>LLHKZL HIBGBHG :G= BGO>GM G>P
I>KLI><MBO>LHGMA>:NMAHKLMA:MA:O>GHMIK>OBHNLER;>>G<HGLB=>K>=
/H PA:M <:G P> =H MH =>O>EHI HNK <KBMB<:E :G= <K>:MBO> MABGDBG@ LDBEEL EMAHN@A F:GR LMN=>GML
F:R =BLEBD> BM @KHNI PHKD BL :G >Q<>EE>GM P:R MH =>O>EHI HNK MABGDBG@ LDBEEL ):GR MBF>L % A:O>
A>:K= ?KHF LMN=>GML MA>BK =BL=:BG ?HK PHKDBG@ BG @KHNIL ;:L>= HG L<A>=NEBG@ O:KB>= E>O>EL H?
<HFFBMF>GM MH MA> @KHNI HK IKHC><M :G= I>KLHG:EBMR <HGaB<ML MHH H? <HNKL> 0KN>XBMZL GHM :EP:RL
>:LR ;NM MA:M BL PAR BM BL LH >_><MBO> 3A>G P> PHKD <HEE:;HK:MBO>ER HG : IKHC><M HK IKH;E>F P>
;KBG@ F:GR ;K:BGL MH ;>:K HG : LN;C><M 0A>L> =B_>K>GM ;K:BGL PBEE G:MNK:EER =>O>EHI O:KB>= P:RL
H? LHEOBG@ HK >QIE:BGBG@ IKH;E>FL :G= >Q:FBGBG@ BG?HKF:MBHG 0H MA> H;L>KO:GM BG=BOB=N:E P> L>>
MA:MMABLIE:<>LNLBG:<HGLM:GMLM:M>H?;:<D:G=?HKMA<KBMB<:E<K>:MBO>MABGDBG@FH=>L
"HK >Q:FIE> BG @KHNI PHKD P> :K> LBFNEM:G>HNLER :G:ERSBG@ BG?HKF:MBHG :G= @>G>K:MBG@
LHENMBHGL HG HNK HPG PABE> <A:EE>G@BG@ HMA>KZL :G:ERL>LB=>:L :G= K>LIHG=BG@ MH <A:EE>G@>L MH
HNK HPG :G:ERL>LB=>:L 0ABL BL I:KM H? PAR LMN=>GML M>G= MH :OHB= @KHNI PHKDXBM <A:EE>G@>L NL
:L MABGD>KL :G= ?HK<>L NL MH :G:ERS> HMA>KL PABE> =>?>G=BG@ HNKL>EO>L PAB<A BL GHM LHF>MABG@ P>
:K> NL>= MH HK <HF?HKM:;E> PBMA :L FHLM H? HNK >=N<:MBHG:E >QI>KB>G<>L BGOHEO> LHEH PHKD 5HNK
IKH?>LLHKL DGHP MABLXMA:MZL PAR P> :LLB@G BMXMH A>EI RHN @KHP :L LMN=>GML E>:KG>KL :G= MABGD>KL
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH,<5F98DF9J=CIG@M
CIB85H=CBG C: 7589A=7 ,I779GG 0CF8G C: 0=G8CA 8=H98 6M -<CA5G )F=9GH9F GG5M 5IH<CF98 6M
FB8F9K+C69FH5?9F%=79BG92HHF=6IH=CB
<5DH9F0CF8GC:0=G8CA-<=B?=B;F=H=75@@M5B8F95H=J9@M 
<5DH9FCADF9<9B8=B;C@@9;9%9J9@
+958=B;6M.G=B;H<9+958=B;DDF9BH=79G<=D
DDFC57<
D884;E +A .:6*77 2;27<1. =+52,
86*27
)HLM LMN=>GML >GM>KBG@ <HEE>@> A:O> GHM R>M =>:EM PBMA MA> E>O>E H? =Bb<NEMR BGOHEO>= BG
K>:=BG@W:G= <HFIK>A>G=BG@WL<AHE:KER M>QM;HHDL :G= :KMB<E>L 0A> <A:EE>G@> F:R >O>G LNKIKBL>
LHF> PAH A:O> IK>MMR @HH= K>:=BG@ :G= <HFIK>A>GLBHG LDBEEL LH ?:K +MA>K LMN=>GML ?HK PAHF
K>:=BG@ A:L FHLMER <HGLBLM>= H? LH<B:E F>=B: M>QML ?HKNF <A:M KHHFL :G= >F:BEL `G= MA>R :K>
BGMBFB=:M>=;RMA>LA>>K #/1706 H?K>:=BG@MA>K>BLBG<HEE>@><E:LL>L
%3/27<5=;>@363<A7=<3M<7B7=<
.>:=BG@ <HFIK>A>GLBHG BL =>`G>= :L MA> E>O>E H? NG=>KLM:G=BG@ H? : F>LL:@> 0ABL NG=>KLM:G=BG@
<HF>L ?KHF MA> BGM>K:<MBHG ;>MP>>G MA> PHK=L MA:M :K> PKBMM>G :G= AHP MA>R MKB@@>K DGHPE>=@>
HNMLB=> MA> M>QMF>LL:@> HFIK>A>GLBHG BL : [<K>:MBO> FNEMB?:<>M>= IKH<>LL\ =>I>G=>GM NIHG
?HNK E:G@N:@> LDBEEL IAHGHEH@R LRGM:Q L>F:GMB<L :G= IK:@F:MB<L ,KH`<B>GM K>:=BG@ =>I>G=L
HG MA> :;BEBMR MH K><H@GBS> PHK=L JNB<DER :G= >_HKME>LLER %M BL :ELH =>M>KFBG>= ;R :G BG=BOB=N:EZL
<H@GBMBO> =>O>EHIF>GM PAB<A BL [MA> <HGLMKN<MBHG H? MAHN@AM IKH<>LL>L\ /HF> I>HIE> E>:KG
MAKHN@A>=N<:MBHGHKBGLMKN<MBHG:G=HMA>KLMAKHN@A=BK><M>QI>KB>G<>L
0A>K> :K> LI><B`< MK:BML MA:M =>M>KFBG> AHP LN<<>LL?NEER :G BG=BOB=N:E PBEE <HFIK>A>G= M>QM
BG<EN=BG@ IKBHK DGHPE>=@> :;HNM MA> LN;C><M P>EE=>O>EHI>= E:G@N:@> :G= MA> :;BEBMR MH F:D>
BG?>K>G<>L $:OBG@ MA> LDBEE MH FHGBMHK <HFIK>A>GLBHG BL : ?:<MHK [3AR BL MABL BFIHKM:GM\ :G=
[ H % G>>= MH K>:= MA> >GMBK> M>QM\ :K> >Q:FIE>L GHMA>K MK:BM BL MA> :;BEBMR MH ;> L>E?<HKK><MBG@
PAB<A:EEHPL?HKLHENMBHGLMH<HFIK>A>GLBHG<A:EE>G@>L
%3/27<5=;>@363<A7=<3D3:A
.>:=BG@ <HFIK>A>GLBHG BGOHEO>L MPH E>O>EL H? IKH<>LLBG@ LA:EEHP EHPE>O>E IKH<>LLBG@ :G=
=>>I AB@AE>O>E IKH<>LLBG@ >>I IKH<>LLBG@ BGOHEO>L L>F:GMB< IKH<>LLBG@ PAB<A A:II>GL PA>G
P> >G<H=> MA> F>:GBG@ H? : PHK= :G= K>E:M> BM MH LBFBE:K PHK=L /A:EEHP IKH<>LLBG@ BGOHEO>L
LMKN<MNK:E :G= IAHG>FB< K><H@GBMBHG MA> IKH<>LLBG@ H? L>GM>G<> :G= PHK= LMKN<MNK> :G= MA>BK
:LLH<B:M>=LHNG=L0ABLMA>HKRP:L`KLMB=>GMB`>=;R">K@NL%)K:BD:G=.H;>KM/(H<DA:KM
@/7<%357=<1B7D/B7=<
HFIK>A>GLBHG E>O>EL <:G GHP ;> H;L>KO>= MAKHN@A MA> NL> H? : ?).% ?NG<MBHG:E F:@G>MB<
K>LHG:G<> BF:@BG@ ?).%LZ :K> NL>= MH =>M>KFBG> MA> LI><B`< G>NK:E I:MAP:RL H? :<MBO:MBHG
:<KHLL MPH <HG=BMBHGL G:KK:MBO>E>O>E <HFIK>A>GLBHG :G= L>GM>G<>E>O>E <HFIK>A>GLBHG %F:@>L
LAHP>= MA:M MA>K> P:L E>LL ;K:BG K>@BHG :<MBO:MBHG =NKBG@ L>GM>G<>E>O>E <HFIK>A>GLBHG
LN@@>LMBG@ : LA:K>= K>EB:G<> PBMA <HFIK>A>GLBHG I:MAP:RL 0A> L<:GL :ELH LAHP>= :G >GA:G<>=
M>FIHK:E :<MBO:MBHG =NKBG@ G:KK:MBO> E>O>EL M>LML BG=B<:MBG@ MABL :IIKH:<A :<MBO:M>L LBMN:MBHG :G=
LI:MB:EIKH<>LLBG@
7AB=@G
%GBMB:EER FHLM <HFIK>A>GLBHG M>:<ABG@ P:L ;:L>= HG BFI:KMBG@ L>E><M>= M><AGBJN>L MA:M PA>G
M:D>G MH@>MA>K PHNE= :EEHP LMN=>GML MH ;> LMK:M>@B< K>:=>KL AHP>O>K BG  R>:KL H? M>LMBG@ MA>L>
F>MAH=L G>O>K L>>F>= MH PBG LNIIHKM BG >FIBKB<:E K>L>:K<A +G> LN<A LMK:M>@R ?HK BFIKHOBG@
K>:=BG@ <HFIK>A>GLBHG BL MA> M><AGBJN> <:EE>= /-. /NKO>R -N>LMBHG .>:= .><BM> :G=
.>OB>PMA:MP:LBGMKH=N<>=;R"K:G<BL,E>:L:GM.H;BGLHGBGABL;HHD @'%6+8'67&;
>MP>>G  :G= MH :;HNM  : GNF;>K H? [LMK:M>@B>L\ P>K> =>OBL>= ?HK M>:<ABG@ LMN=>GML
MH >FIEHR L>E?@NB=>= F>MAH=L ?HK BFIKHOBG@ K>:=BG@ <HFIK>A>GLBHG %G  GMAHGR ):GSH
=>LB@G>= :G= ?HNG= >FIBKB<:E LNIIHKM ?HK MA> .>-N>LM HK .><BIKH<:E -N>LMBHGBG@ ,KH<>=NK> BM
P:L MA> `KLM F>MAH= MH <HGO>KM >F>K@BG@ MA>HKB>L H? LH<B:E :G= BFBM:MBHG E>:KGBG@ BGMH M>:<ABG@
F>MAH=L MAKHN@A MA> NL> H? : M:ED KHM:MBHG ;>MP>>G LMN=>GML :G= M>:<A>K <:EE>= <H@GBMBO>
FH=>EBG@
/BG<> MA> MNKG H? MA> LM <>GMNKR <HFIK>A>GLBHG E>LLHGL NLN:EER <HGLBLM H? LMN=>GML :GLP>KBG@
M>:<A>KLZ JN>LMBHGL PKBMBG@ K>LIHGL>L MH JN>LMBHGL HG MA>BK HPG HK ;HMA 0A> PAHE> @KHNI
O>KLBHG H? MABL IK:<MB<> :ELH H?M>G BG<EN=>= [.HNG=KH;BG K>:=BG@\ PA>K>BG M>:<A>KL <:EE>= HG
BG=BOB=N:E LMN=>GML MH K>:= : IHKMBHG H? MA> M>QM %G MA> E:LM JN:KM>K H? MA> MA <>GMNKR >OB=>G<>
:<<NFNE:M>= MA:M MA> K>:=M>LM F>MAH=L P>K> FHK> LN<<>LL?NE :LL>LLBG@ K:MA>K MA:G M>:<ABG@
<5DH9FCADF9<9B8=B;C@@9;9%9J9@+958=B;6M.G=B;H<9+958=B;DDF9BH=79G<=DDDFC57< 
<HFIK>A>GLBHG %GLM>:= H? NLBG@ MA> IKBHK K>:=M>LM F>MAH= K>L>:K<A LMN=B>L A:O> <HG<EN=>= MA:M
MA>K> :K> FN<A FHK> >_><MBO> P:RL MH M>:<A <HFIK>A>GLBHG )N<A PHKD A:L ;>>G =HG> BG MA>
:K>: H? M>:<ABG@ GHOB<> K>:=>KL : ;:GD H? [K>:=BG@ LMK:M>@B>L\ HK MHHEL MH BGM>KIK>M :G= :G:ERS> M>QM
%GLMKN<MBHG BG <HFIK>A>GLBHG LMK:M>@R NL> H?M>G BGOHEO>L MA> @K:=N:E K>E>:L> H? K>LIHGLB;BEBMR
PA>K>BG M>:<A>KL BGBMB:EER >QIE:BG :G= FH=>E LMK:M>@B>L +O>K MBF> MA>R @BO> LMN=>GML FHK>
:G= FHK> K>LIHGLB;BEBMR ?HK NLBG@ MA> LMK:M>@B>L NGMBE MA>R <:G NL> MA>F BG=>I>G=>GMER 0ABL
M><AGBJN> BL @>G>K:EER :LLH<B:M>= PBMA MA> B=>: H? L>E?K>@NE:MBHG :G= K>a><ML LH<B:E <H@GBMBO>
MA>HKRHKB@BG:EER<HG<>IMN:EBS>=;RE;>KM:G=NK:
)=1/0C:/@G
.>:=BG@ <HFIK>A>GLBHG :G= OH<:;NE:KR :K> BG>QMKB<:;ER EBGD>= 0A> :;BEBMR MH =><H=> HK B=>GMB?R
:G= IKHGHNG<> PHK=L BL L>E?>OB=>GMER BFIHKM:GM ;NM DGHPBG@ PA:M MA> PHK=L F>:G A:L : F:CHK
:G= =BK><M >_><M HG DGHPBG@ PA:M :GR LI><B`< I:LL:@> F>:GL /MN=>GML PBMA : LF:EE>K OH<:;NE:KR
MA:G HMA>K LMN=>GML <HFIK>A>G= E>LL H? PA:M MA>R K>:= :G= BM A:L ;>>G LN@@>LM>= MA:M MA> FHLM
BFI:<M?NEP:RMHBFIKHO><HFIK>A>GLBHGBLMHBFIKHO>OH<:;NE:KR
)HLM PHK=L :K> E>:KG>= @K:=N:EER MAKHN@A : PB=> O:KB>MR H? >GOBKHGF>GML M>E>OBLBHG ;HHDL
:G= <HGO>KL:MBHGL /HF> PHK=L :K> FHK> <HFIE>Q :G= =Bb<NEM MH E>:KG LN<A :L AHFHGRFL
PHK=L MA:M A:O> FNEMBIE> F>:GBG@L :G= MAHL> PBMA `@NK:MBO> F>:GBG@L EBD> B=BHFL LBFBE>L :G=
F>M:IAHKL
'6@33'73@)=1/0C:/@G*=@2A
/>O>K:E MA>HKB>L H? OH<:;NE:KR BGLMKN<MBHG >QBLM G:F>ER HG> ?H<NL>= HG BGM>GLBO> BGLMKN<MBHG H? :
?>P AB@A O:EN> PHK=L HG> ?H<NL>= HG ;KH:= BGLMKN<MBHG H? F:GR NL>?NE PHK=L :G= : MABK= ?H<NL>=
HGLMK:M>@B>L?HKE>:KGBG@EHP?K>JN>G<R<HGM>QMLI><B`<OH<:;NE:KR
@=/2)=1/0C:/@G>>@=/16
0A> F>MAH= H? ?H<NLBG@ H? ;KH:= BGLMKN<MBHG HG F:GR PHK=L P:L =>O>EHI>= ;R G=K>P B>FBEE>K
PAH :K@N>= MA:M FHK> PHK=L PHNE= ;>G>`M LMN=>GML FHK> >O>G B? MA> BGLMKN<MBHG P:L LAHKM :G=
M>:<A>K=BK><M>= $> LN@@>LM>= MA:M M>:<A>KL M>:<A : E:K@> GNF;>K H? PHK=L ;>?HK> K>:=BG@ : ;HHD
MH LMN=>GML ;R F>K>ER @BOBG@ LAHKM =>`GBMBHGL LN<A :L LRGHGRFL :G= MA>G IHBGMBG@ HNM MA> PHK=L
:G= MA>BK F>:GBG@ PABE> K>:=BG@ MA> ;HHD MH LMN=>GML 0A> F>MAH= <HGMK:LML PBMA MA> :IIKH:<A
;R >FIA:LBSBG@ JN:GMBMR O>KLNL JN:EBMR 0A>K> BL GH >OB=>G<> MH LN@@>LM MA> IKBF:<R H? >BMA>K
:IIKH:<A
=@>63;71P<AB@C1B7=<
GHMA>K OH<:;NE:KR M><AGBJN> LMK:M>@B>L ?HK E>:KGBG@ G>P PHK=L <:G ;> ?NKMA>K LN;=BOB=>=
BGMH BGLMKN<MBHG HG NLBG@ <HGM>QM :G= BGLMKN<MBHG HG NLBG@ FHKIA>F>L HK F>:GBG@?NE NGBML
PBMABG PHK=L MH E>:KG MA>BK F>:GBG@ )HKIA>FB< BGLMKN<MBHG A:L ;>>G LAHPG MH IKH=N<> IHLBMBO>
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
HNM<HF>L ?HK LMN=>GML K>:=BG@ :G= OH<:;NE:KR DGHPE>=@> ;NM <HGM>QM A:L IKHO>= NGK>EB:;E> :L :
LMK:M>@R :G= BM BL GH EHG@>K <HGLB=>K>= : NL>?NE LMK:M>@R MH M>:<A LMN=>GML 0ABL <HG<ENLBHG =H>L
GHM =BLJN:EB?R MA> O:EN> BG [E>:KGBG@\ FHKIA>FB< :G:ERLBL W IK>`Q>L LNbQ>L :G= KHHML W ;NM K:MA>K
LN@@>LML MA:M BM ;> BFI:KM>= BG<B=>GM:EER :G= BG <HGM>QM <<HK=BG@ER MA>K> :K> F>MAH=L =>LB@G>=
MH:<AB>O>MABLLN<A:L%G<B=>GM:E)HKIA>F>G:ERLBL
%317>@=1/:'3/167<5
%G MA> L GG>F:KB> /NEEBO:G ,:EBG<L:K :G= GG ( KHPG =>O>EHI>= : M><AGBJN> <:EE>=
K><BIKH<:E M>:<ABG@ MA:M M:N@AM LMN=>GML MH IK>=B<M LNFF:KBS> <E:KB?R :G= :LD JN>LMBHGL ?HK
L><MBHGL H? : M>QM 0A> NL> H? LMK:M>@B>L EBD> LNFF:KBSBG@ :?M>K >:<A I:K:@K:IA A:O> <HF> MH ;> L>>G
:L >_><MBO> LMK:M>@B>L ?HK ;NBE=BG@ LMN=>GMLZ <HFIK>A>GLBHG 0A> B=>: BL MA:M LMN=>GML PBEE =>O>EHI
LMKHG@>K K>:=BG@ <HFIK>A>GLBHG LDBEEL HG MA>BK HPG B? MA> M>:<A>K @BO>L MA>F >QIEB<BM F>GM:E MHHEL
?HKNGI:<DBG@M>QM
P<AB@C1B7=</:=<D3@A/B7=<A
[%GLMKN<MBHG:E <HGO>KL:MBHGL\ HK <HFIK>A>GLBHG MAKHN@A =BL<NLLBHG <K>:M> AB@A>KE>O>E MABGDBG@
HIIHKMNGBMB>L ?HK LMN=>GML ;R IKHFHMBG@ <KBMB<:E :G= :>LMA>MB< MABGDBG@ :;HNM MA> M>QM 0A>K> :K>
L>O>K:E MRI>L H? JN>LMBHGL MA:M : M>:<A>K LAHNE= ?H<NL HG K>F>F;>KBG@ M>LMBG@ NG=>KLM:G=BG@
:IIEB<:MBHG HK LHEOBG@ BGOBM> LRGMA>LBL HK <K>:MBG@ :G= >O:EN:MBHG :G= CN=@BG@ 0>:<A>KL LAHNE=
FH=>E MA>L> MRI>L H? JN>LMBHGL MAKHN@A [MABGD:EHN=L\ ;>?HK> =NKBG@ :G= :?M>K K>:=BG@ : M>QM
3A>G : LMN=>GM <:G K>E:M> : I:LL:@> MH :G >QI>KB>G<> :GHMA>K ;HHD HK HMA>K ?:<ML :;HNM MA>
PHKE= MA>R :K> [F:DBG@ : <HGG><MBHG\ ):DBG@ <HGG><MBHGL A>EI LMN=>GML NG=>KLM:G= MA> :NMAHKZL
INKIHL>:G=`<MBHGHKGHG`<MBHGLMHKR
'3FB/1B=@A
0A>K> :K> ?:<MHKL MA:M HG<> =BL<>KG>= F:D> BM >:LB>K ?HK MA> K>:=>K MH NG=>KLM:G= MA> PKBMM>G M>QM
+G> BL MA> @>GK> EBD> ?HEDM:E>L ABLMHKB<:E `<MBHG ;BH@K:IAB>L HK IH>MKR !:<A @>GK> A:L BML HPG
<A:K:<M>KBLMB<L ?HK M>QM LMKN<MNK> MA:M HG<> NG=>KLMHH= A>EI MA> K>:=>K <HFIK>A>G= BM LMHKR BL
<HFIHL>= H? : IEHM <A:K:<M>KL L>MMBG@ IHBGM H? OB>P :G= MA>F> %G?HKF:MBHG:E ;HHDL IKHOB=>
K>:E PHKE= DGHPE>=@> ?HK LMN=>GML :G= A:O> NGBJN> ?>:MNK>L LN<A :L A>:=BG@L F:IL OH<:;NE:KR
:G= :G BG=>Q ,H>FL :K> PKBMM>G BG =B_>K>GM ?HKFL :G= MA> FHLM <HFFHGER NL>= :K> KARF>=
O>KL> A:BDN ?K>> O>KL> :G= G:KK:MBO>L ,H>MKR NL>L =>OB<>L LN<A :L :EEBM>K:MBHG K>I>MBMBHG KARF>
F>M:IAHKL :G= LBFBE>L [3A>G <ABE=K>G :K> ?:FBEB:K PBMA @>GK>L HK@:GBS:MBHG:E I:MM>KGL :G=
M>QM ?>:MNK>L BG ;HHDL MA>RZK> K>:=BG@ MA>RZK> ;>MM>K :;E> MH <K>:M> MAHL> M>QM ?:<MHKL BG MA>BK HPG
PKBMBG@\
<5DH9FCADF9<9B8=B;C@@9;9%9J9@+958=B;6M.G=B;H<9+958=B;DDF9BH=79G<=DDDFC57< 
'63%3/27<5>>@3<B713A67>%>>@=/16B==;>@363<A7=<
*HPMHLHF>LMK:M>@B>LMHA>EIRHNPBMALHF>MRIB<:E<HEE>@>E>O>E<HFIK>A>GLBHG<A:EE>G@>L:L
P>EE:LLHF>H?RHNKLI><B`<<A:EE>G@>LB=>GMB`>=BGMA>IK>OBHNL>Q>K<BL>
0ABL E>LLHG ?H<NL>L HG : F>MAH= <:EE>= .>:=BG@ IIK>GMB<>LABI %M BL ;:L>= HG MA> IK>FBL> MA:M
I>HIE> PAH A:O> ;><HF> >QI>KM K>:=>KL <:G :LLBLM E>:KG>KL ;R FH=>EBG@ PA:M MA>R A:O> E>:KG>=
MH =H L >QIE:BG>= BG MA> M>QM '#&+0) (14 0&'456#0&+0) 19 '#&+0) 224'06+%'5*+2 /2418'5
C+5%+2.+0#4; '#40+0) +0 '%10&#4; #0& 1..')' .#55411/5 [+G> EBM>K:<R >=N<:MHK =>L<KB;>L MA> B=>:
H? MA> <H@GBMBO> :IIK>GMB<>LABI BG K>:=BG@ ;R <HFI:KBG@ MA> IKH<>LL H? E>:KGBG@ MH K>:= PBMA
MA:M H? E>:KGBG@ MH KB=> : ;BD> %G ;HMA <:L>L : FHK> IKH`<B>GM HMA>K BL IK>L>GM MH LNIIHKM MA>
;>@BGG>K >G@:@BG@ MA> ;>@BGG>K BG MA> :<MBOBMR :G= <:EEBG@ :MM>GMBHG MH H?M>G HO>KEHHD>= HK
AB==>GLMK:M>@B>L\
0ABL BL : LMK:M>@R MA:M M:D>L : F>M:<H@GBMBO> :IIKH:<A MH <HFIK>A>GLBHG NMBEBSBG@ O:KBHNL
LMK:M>@B>L K>:=>KL F:R :EK>:=R DGHP MA>R DGHP AHP MH =H MA>G :==BG@ FHK> "HK >Q:FIE>
FHLM K>:=>KL A:O> E>:KG>= MH F:D> IK>=B<MBHGL :LD JN>LMBHGL <HG<>KGBG@ F>:GBG@L [% PHG=>K
:;HNM^\ OBLN:EBS> : L<>G> ;>BG@ =>L<KB;>= :LLH<B:M> MA> F:M>KB:E ;>BG@ K>:= MH LHF> HMA>K
F:M>KB:E:G=:MMA>>G=LNFF:KBS>MA>F:M>KB:E
% EBD> MH <:EE MA>L> HNK [A:K= =KBO>\ LDBEEL (BD> : <HFINM>K A:K= =KBO> :EP:RL ANFFBG@ BG MA>
;:<D@KHNG= =HBG@ BML MABG@ ;>ABG= MA> L<>G>L HNK F>M:<H@GBMBO> LDBEEL A:O> :EK>:=R ;>>G :LLBLMBG@
NL :L K>:=>KL 3> CNLM =HGZM NLN:EER M:ED :;HNM PA:M P> :K> =HBG@ ?HK >Q:FIE> [3>EE ;R @HEER
GHP %ZF IK>=B<MBG@ PA:M #H=SBEE: PBEE =H MH MA> IHHK OBEE:@>KL BG :;HNM MPH L<>G>L ?KHF GHP\ P>
CNLM :NMHF:MB<:EER IK>=B<M >LI><B:EER B? P> :K> ?:FBEB:K PBMA <A:K:<M>KL :G= IEHM EBG>L "HK :GHMA>K
>Q:FIE> [% :F GHP @HBG@ MH OBLN:EBS> MABL L<>G> BG @K:O>R:K= PA>G $:FE>M <HF>L :<KHLL MA>
=><>:L>=<HNKMC>LM>KZLLDNEEBG<M2/<>G>\3>CNLM 5'' BMBGHNKFBG=ZL>R>
*HP K>OB>P :G= :bKF BFIHKM:GM <HFIK>A>GLBHG LDBEEL RHN :EK>:=R IHLL>LL :G= <HFIE>M> MA>
>Q>K<BL>;>EHP
+%P&
!C657?H<FCI;<H<99L79FDH56CJ9CBF958=B;7CADF9<9BG=CB5B8-"\,H=A9KF=H9A5F;=B5@
BCH9GK<9F9MCIIG985BMC:H<97CADF9<9BG=CBHCC@G@=GH9869@CK
V DF98=7H=B;
V 5G?=B;EI9GH=CBGC:H<9A5H9F=5@GI7<5GT\KCB89F56CIHUTCI@8H<=GA95BU
V J=GI5@=N=B;
V 7CBB97H=B;H<=GA5H9F=5@HCGCA9H<=B;9@G9MCI<5J9@95FB98
V BCH=B;K<9F9MCIH<=B?MCIA=;<HB998HCF958GCA9H<=B;CJ9F5;5=B:CF
7CADF9<9BG=CB
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
V GIAA5F=N=B;
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BHDF9J=CIG@MG<5F98
"CKHC%95FB%=?95)FCIH<CF986M)<M@@=G'=GG=@52
85DH=CBG <5B;98 :CFA5HH=B; F9ACJ98 CB9 9L9F7=G9 F9ACJ98 GCA9 <MD9F@=B?G
F9ACJ98HKC7@5GG8=G7IGG=CBG9BH9B79G5B8F9@5H98:CCHBCH9G
TCC?GU =A5;96M "9FA5BB =G=BH<9 )I6@=7CA5=B
<5DH9FCADF9<9B8=B;C@@9;9%9J9@+958=B;6M.G=B;H<9+958=B;DDF9BH=79G<=DDDFC57< 
<5DH9F!9HH=B;H<9&CGH(IHC:2CIF
-9LH6CC?G
%3/27<5'3FB0==9A@=<B/<2/19 /BB3@
D884;E +A
54.::..&.,<8:G6*0.;
2;27<1. =+52,
86*27
>?HK> =BOBG@ BGMH >O>KR EBG> H? M>QM BG : M>QM;HHD K>:=BG@ :LLB@GF>GM BM BL A>EI?NEW:G= L:O>L
MBF>WMH `G= HNM `KLM PA:M K>LHNK<>L MA> >GMBK> ;HHD A:L MH H_>K RHN 0A>G :L MAHL> <A:IM>K
K>:=BG@L:K>:LLB@G>=BMA>EILMH`KLMLDBFK>:=MA>F?HKMA>;B@IB<MNK>F>:GBG@
0A> `KLM >Q>K<BL> BG MABL <A:IM>K PBEE A>EI RHN `G= :EE MA> K>LHNK<>L BG RHNK M>QM;HHDW:G=
LHF> M>QM;HHDL A:O> : EHM FHK> A>EI BG MA> ?KHGM F:MM>K :G= ;:<D F:MM>K H? MA> M>QM MA:G RHN
F:R K>:EBS> % :EP:RL MABGD H? HG> LMN=>GM PAH PA>G @BO>G MABL >Q>K<BL> MH NL> HG :GR M>QM;HHD
A> A:= PBMA ABF IB<D>= ABL F:MA ;HHD $> P:L :M MA:M MBF> K>M:DBG@ MA:M F:MA <E:LL ;><:NL>
A> A:= ?:BE>= BM MA> M>KF ;>?HK> L A> =B= MA> >Q>K<BL> A> K>:EBS>= MA> ;:<D F:MM>K H? MA> ;HHD
BG<EN=>= :G :GLP>K D>R ?HK A:E? H? MA> IKH;E>FL ?HK >O>KR >Q>K<BL> [$:= % DGHPG MABL E:LM M>KF\
A> L:B= [% PHNE= A:O> I:LL>=\ />> B? RHN MHH `G= LHF>MABG@ NL>?NE BG RHNK M>QM;HHD MA:M I>KA:IL
RHN=B=GZMDGHPP:LMA>K>>BMA>K
0A> !Q>K<BL>L BG MABL <A:IM>K <HO>K LMK:M>@B>L ?HK LDBF K>:=BG@ LI><B`< <A:IM>KL :G= : LMK:M>@R
?HK@>MMBG@MA>FHLMHNMH?@K:IAB<LBG<EN=>=BGM>QM;HHDL
+%P&
"9F9=G5@=GHC:G9J9F5@?=B8GC:F9GCIF79GHMD=75@@M=BH<9:FCBHC:5H9LH6CC??BCKB5G
T:FCBHA5HH9FU5B85@=GHC:HMD=75@T657?A5HH9FUF9GCIF79G CFCB9C:MCIFH9LH6CC?GDIH
57<97?A5F?B9LHHCH<9:FCBH5B8657?A5HH9F:95HIF9G=H=B7@I89GH<9B5BGK9FH<9HKC
EI9GH=CBG69@CK
-9LH6CC?H=H@94444444444444444444444444444444444444444444444444444
+('-&--+
444-56@9C:CBH9BHG
444)F9:579
444\BHFC8I7H=CB
444-CH<9-957<9F
444-CH<9,HI89BH
444(H<9F@=GH<9F9444444444444444444444444444444444444444444444
$&--+
444!@CGG5FMC:-9FAG
444\B89LC:GI6>97HG
444BGK9F$9MG
44488=H=CB5@L9F7=G9G
44488=H=CB5@+958=B;G
444-56@9G;F5D<G7<5FHG
444&5DG
444(H<9F@=GH<9F9444444444444444444444444444444444444444444444444
BGK9FH<9:C@@CK=B;EI9GH=CBG
 09F9H<9F95BMGIFDF=G9G:CFMCI
 "CK75BMCIIG9H<9:FCBH5B8657?A5HH9F=BMCIFH9LHHC<9@DMCIK=H<MCIF
GHI8=9GCFG9BH9B79G
&97;%3/27<5'3FB0==96/>B3@A
>?HK>=HBG@:=>M:BE>=K>:=BG@H?:M>QM;HHD<A:IM>K@>MMA>;B@IB<MNK>;R?HEEHPBG@MA>L>
LM>IL
<5DH9F!9HH=B;H<9&CGH(IHC:2CIF-9LH6CC?G 
] /BFBE:KMHK>:=BG@MA>0:;E>H?HGM>GML?HKMA>>GMBK>;HHDK>:=MA>%GMKH=N<MBHGHKA:IM>K
+O>KOB>PPAB<A>O>KMA>M>QM;HHD?>:MNK>L?HKMA>F:BGB=>:L:G=AHPMA>R:K>=BOB=>=
] .>:=MA>A>:=BG@L:G=LN;A>:=BG@L
] *HM>MA>@K:IAB<L<A:KMLM:;E>LBEENLMK:MBHGL>M<
] .>:=MA>`KLMHG>HKMPHL>GM>G<>LBGMA>I:K:@K:IALMA>I:K:@K:IAMHIB<BLLHF>MBF>L
<HO>K>=BGFHK>MA:GHG>L>GM>G<>
] .>:=MA>E:LML>GM>G<>BG>:<AI:K:@K:IAPAB<AFB@AM;>:I:K:@K:IALNFF:KR
] .>:=MA>LNFF:KRH?MA>>GMBK><A:IM>KB?@BO>G
] .>:=:GRL>GM>G<>PBMA;HE=?:<>HKBM:EB<BS>=PHK=LHKPHK=@KHNILBGBMPAB<A:K>NLN:EER
>BMA>KD>RB=>:LHK:M><AGB<:EM>KFL
] /MHIPA>GG>>=>=B?RHN<HF>:<KHLL:<HFIEB<:M>=B=>:HKMHIB<:G=M:D>:EBMME>FHK>MBF>MH
LDBFBMNGMBERHNNG=>KLM:G=BM
] /DBFMA>LMN=RJN>LMBHGLMHH0A>RPBEEA>EIRHN?H<NLHGD>RIHBGML
+%P&
.G=B; H<9 F97CAA9B85H=CBG CB <CK HC G?=A H<FCI;< H9LH6CC? 7<5DH9FG 8C GC K=H< 5 H9LH6CC?
7<5DH9F C: MCIF 7<C=79 0<9B MCI 5F9 XB=G<98 7@CG9 H<9 6CC? 5B8 KF=H9 56CIH H<9 :C@@CK=B; KF=H9
8CKB 5G A5BM C: H<9 A5=B =895G C: H<=G 7<5DH9F 5G MCI 75B F9A9A69F 6M G?=A F958=B; =H -FM BCH
HC @CC? 657? 0<9B XB=G<98 7<97? MCIF KCF? HC A5?9 GIF9 MCI <5J9 HF5BG7F=698 H<9 =B:CFA5H=CB
7CFF97H@M
%3/27<5@/>671A
D#<*<2;<2,E +A =:*527 2;27
<1. =+52,86*27
(BLM>=;>EHP:K>O:KBHNLMRI>LH?=:M:?HNG=HGFHLM@K:IAB<LPA>MA>K:IB><A:KM;:K@K:IA
EBG><A:KMHKHMA>KMRI>
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
0A>D>RMH<HFIK>A>G=BG@@K:IAB<L:G=NLBG@MA>FMH@>MFHK>F>:GBG@?KHF:M>QM;HHD
<A:IM>KHK:G:KMB<E>HKMH:GLP>KLMN=RJN>LMBHGLBLMHI:R<EHL>:MM>GMBHGMHMA>MRIB<:E>E>F>GML
H?MA>@K:IAB<*HM>O>KR@K:IAB<BG<EN=>L:EEH?MA>>E>F>GMLEBLM>=
 0BME>
 :IMBHGL
 (>@>G=
 QBLBG?HKF:MBHGO>KMB<:EBG?HKF:MBHGHK[5\=:M::G=AHKBSHGM:EBG?HKF:MBHGHK[4\=:M:
 ,N;EB<:MBHG=:M>BFIHKM:GM?HKMA>FHLM<NKK>GMBG?HKF:MBHG
 ,N;EBLA>KBFIHKM:GM?HK<K>=B;BEBMR
 (:;>EL
 HEHKNL>=MH=B_>K>GMB:M>:G=<HFI:K>=:M:
 /BS>:ELHNL>=MHK>IK>L>GM<HFI:KBLHGL
 /I:MB:EIHLBMBHGLA>EIL?HK<HFI:KBG@:G=<HGMK:LMBG@
 ,:MM>KGLK>IK>L>GM>=;RMA><HGM>GMBML>E?:G=
 0K>G=LMA:M:II>:KFHK>>OB=>GMPA>GOB>PBG@MA>OBLN:EK>IK>L>GM:MBHGH?MA>=:M:
%M BL >:LR MH HO>KEHHD :EE H? MA> BG?HKF:MBHG IK>L>GM BG : @K:IAB< LH @BO> RHNKL>E? >GHN@A MBF> MH
GHM> :EE MA> >E>F>GML :G= MA>BK F>:GBG@L ;>?HK> :GLP>KBG@ JN>LMBHGL :;HNM MA>F 0ABL >Q>K<BL>
H_>KLLHF>IK:<MB<>
+%P&
-<=G9L9F7=G9IG9G -<9A5H=7&5DGC:H<9.B=H98,H5H9G9BGIGIF95I
 <CCG9 5 H<9A9 C: H<9 A5BM @=GH98 H<5H =B7@I89 :CF 9L5AD@9 ;F=7I@HIF5@ IG=B9GG
\B7CA9 5B8 )CJ9FHM 5B8 '5HIF5@ =G5GH9FG -<9F9 5F9 A5BM 75H9;CF=9G HC 7<CCG9
:FCA
 @=7? H<FCI;< HC H<9 57HI5@ ;F5D<=7 :CF H<9 =B:CFA5H=CB CB H<5H H<9A9 CF 9L5AD@9
7@=7? CB '5HIF5@ =G5GH9FG H<9B "IFF=75B9 $5HF=B5 +9GCIF79 &5DG H<9B HC ACF9
CDH=CBG@=GH98:FCAH<9F9
 0F=H9 8CKB H<9 H=H@9 C: H<9 H<9A5H=7 ;F5D<=7 MCI 7<CCG9 5B8 @=GH 5@@ C: H<9 9@9A9BHG C:
H<9 ;F5D<=7 :FCA H<9 @=GH 56CJ9 'CH 5@@ A5M 69 DF9G9BH CB H<9 GD97=X7 HMD9 C: ;F5D<=7
MCI7<CCG9
 ,IAA5F=N9 H<F99 H<=B;G MCI @95FB98 56CIH H<9 =B:CFA5H=CB DF9G9BH98 =B H<=G ;F5D<=7
:CFA
<5DH9F!9HH=B;H<9&CGH(IHC:2CIF-9LH6CC?G 
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BHDF9J=CIG@MG<5F98
"CKHC%95FB%=?95)FCIH<CF986M)<M@@=G'=GG=@52
85DH=CBG<5B;98:CFA5HH=B;
TCC?GU =A5;96M @?9F F99/97HCF\A5;9G =G=BH<9 )I6@=7CA5=B
T,H5H=GH=7U =A5;96M #IF5@&=B =G=BH<9 )I6@=7CA5=B
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
<5DH9F+958=B;-9LH6CC?G
=(%1%)2-/1%31%!241%)."//+23(!.).!,,3(%0)1!3%<2,//3/.1%!241%A2,!.$>
P05@H=GB9M
#@/1B713
%? RHN P:GM MH ;> : ;>MM>K LPBFF>K RHN IK:<MB<> %? RHN P:GM MH ;> : ;>MM>K F:@B<B:G RHN
IK:<MB<> %? RHN P:GM MH ;> : ;>MM>K K>:=>K RHN IK:<MB<> % >G<HNK:@> RHN MH K>:= .>:= K>:=
K>:= .>:= G>PLI:I>KL .>:= F:@:SBG>L .>:= ;HHDL 1L> RHNK EB;K:KR <:K= @>M HG> B? RHN =HGZM
A:O> HG> .>:= ;EH@L .>:= MP>>ML .>:= 3BDBI>=B: :KMB<E>L .>:= :;HNM ABLMHKR IHEBMB<L PHKE=
E>:=>KL <NKK>GM >O>GML LIHKML :KM FNLB<XPA:M>O>K BGM>K>LML RHN 3AR ><:NL> MA> FHK> RHN
K>:= MA> ;>MM>K K>:=>K RHN ;><HF> G= ;><:NL> MA> FHK> RHN K>:= MA> FHK> DGHPE>=@> RHN
PBEE A:O> 0A:M BL :G BFIHKM:GM IB><> BG E>:KGBG@ :G= NG=>KLM:G=BG@ 3A>G P> :K> E>:KGBG@ G>P
BG?HKF:MBHGBMZL>:LB>KMHE>:KGB?P>A:O>LHF>DBG=H?;:<D@KHNG=DGHPE>=@>:;HNMBM
/195@=C<2<=E:3253
%G MA>BK ;HHD 106'06 4'# '#&+0) +6'4#%; #0& '#40+0) %4155 6*' 744+%7.7/ 2:<<: :G= 2:<<:
IHLMNE:M> MA:M : LMN=>GMZL IKBHK DGHPE>=@> BL [MA> LBG@E> FHLM BFIHKM:GM K>LHNK<> BG E>:KGBG@ PBMA
M>QML\
<
.>:=BG@ :G= E>:KGBG@ :K> IKH<>LL>L MA:M PHKD MH@>MA>K /MN=>GML =K:P HG IKBHK DGHPE>=@> :G=
>QI>KB>G<>L MH F:D> L>GL> H? G>P BG?HKF:MBHG [.>L>:K<A LAHPL MA:M B? E>:KG>KL A:O> :=O:G<>=
DGHPE>=@> H? AHP MA> BG?HKF:MBHG MA>RZK> :;HNM MH E>:KG BL HK@:GBS>= X B? MA>R L>> AHP MA>
I:KML K>E:M> MH MA> PAHE> ;>?HK> MA>R :MM>FIM MH LM:KM E>:KGBG@ MA> LI><B`<L X MA>RZK> ;>MM>K :;E> MH
<HFIK>A>G=:G=K>M:BGMA>F:M>KB:E\
=
<3 +S-3("3(6$"+S4SS"
$SR6ASS3J!*6$"4R6<BBBK3
=3 $6(SS"-R6-SSS$")&'4+G'
"HK >Q:FIE> RHN :K> LMN=RBG@ :LMKHGHFR :G= MA> E><MNK> BL :;HNM ):KL /MN=>GML PBMA
DGHPE>=@> H? PA:M ):KL EHHDL EBD> HK AHP BM <HFI:K>L BG LBS> MH HMA>K IE:G>ML HK :GR BG?HKF:MBHG
:;HNM ):KL PBEE A>EI LMN=>GML =B@>LM G>P BG?HKF:MBHG :G= <HGG><M BM MH IKBHK DGHPE>=@> 0A>
FHK> RHN K>:= MA> FHK> ;:<D@KHNG= DGHPE>=@> RHN A:O> :G= MA> ;>MM>K RHN PBEE ;> :;E> MH
<HGG><M BG?HKF:MBHG :G= E>:KG [HGM>GM HO>KE:I ;>MP>>G M>QM :G= DGHPE>=@> :II>:KL MH ;> :
G><>LL:KR<HG=BMBHG?HKE>:KGBG@?KHFM>QM\
>
0A>K> :K> : EHM H? K><>GM :=O:G<>L BG M><AGHEH@R MA:M A:O> F:=> BG?HKF:MBHG FHK> :<<>LLB;E> MH
NL 1L> MABL K>LHNK<> %? RHN :K> @HBG@ MH K>:= : <A>FBLMKR M>QM;HHD >QI>KBF>GM PBMA EBLM>GBG@ HK
P:M<ABG@ : IH=<:LM HK : 5HN0N;> OB=>H HG MA> LN;C><M RHN :K> LMN=RBG@ LD RHNK BGLMKN<MHK B?
MA>RK><HFF>G=LI><B`<P>;LBM>L?HK?NKMA>KNG=>KLM:G=BG@
=(%'1%!3%23')&3)2!0!22)/.&/11%!$).'A3)2#(%!0)3#/.2/,%2)3$)231!#32)3%7#)3%2)3')5%28/43(%
+./6,%$'%/&3(%6/1,$!.$%70%1)%.#%/&!6)$%+).$A3)2!-/1!,),,4-).!3)/.>
P@=N569H<"5F8K=7?
'63&3D3<%3/27<5#@7<17>:3A
Read the assigned material. % DGHP MABL LHNG=L EBD> : GH;K:BG>K ;NM RHN FB@AM ;> LNKIKBL>=
MH E>:KG AHP F:GR LMN=>GML =HGZM K>:= MA> :LLB@G>= F:M>KB:E +?M>G BM M:D>L EHG@>K MH K>:=
MA> F:M>KB:E MA:G A:= ;>>G :GMB<BI:M>= /HF>MBF>L BM BL GHM BGM>K>LMBG@ F:M>KB:E MH NL :G= P>
IKH<K:LMBG:M> K>:=BG@ BM /HF>MBF>L P>ZK> ;NLR :G= BM BL CNLM GHM : IKBHKBMR %M F:D>L BM =Bb<NEM MH
E>:KG MA> BG?HKF:MBHG RHNK BGLMKN<MHK P:GML RHN MH E>:KG B? RHN =H GHM K>:= :;HNM BM ;>?HK> <HFBG@
MH<E:LL
Read it when assigned. 0ABL BL :EFHLM :L ;B@ H? : IKH;E>F ?HK LMN=>GML :L MA> `KLM IKBG<BIE>
5HN PBEE ;>G>`M >QIHG>GMB:EER ?KHF K>:=BG@ :LLB@GF>GML PA>G MA>R :K> :LLB@G>= PAB<A NLN:EER
F>:GL K>:=BG@ MA>F ;>?HK> MA> BGLMKN<MHK E><MNK>L HG MA>F %? MA>K> BL : =:M> ?HK : K>:=BG@
HG RHNK LREE:;NL `GBLA K>:=BG@ BM ;>?HK> MA:M =:M> 0A> ;:<D@KHNG= DGHPE>=@> RHN PBEE :MM:BG
?KHF K>:=BG@ MA> BG?HKF:MBHG PBEE A>EI RHN E>:KG :G= <HGG><M BG?HKF:MBHG PA>G RHNK BGLMKN<MHK
E><MNK>L HG BM :G= BM PBEE E>:O> RHN ;>MM>K IK>I:K>= ?HK <E:LL =BL<NLLBHGL "NKMA>K B? RHNK BGLMKN<MHK
:LLB@GL RHN  I:@>L MH K>:= ;R G>QM P>>D =HGZM P:BM NGMBE MA> GB@AM ;>?HK> MH K>:= BM :EE K>:D
BM =HPG BGMH <ANGDL 0KR L<A>=NEBG@ MBF> >:<A =:R MH K>:=  HK LH I:@>L %M M:D>L =BL<BIEBG> :G=
L>E?<HGMKHE ;NM =HBG@ BM MABL P:R PBEE F:D> NG=>KLM:G=BG@ :G= K>F>F;>KBG@ PA:M RHN K>:= FN<A
>:LB>K
Take notes when you read. 5HN F:R K><:EE $>KF:GG !;;BG@A:NLZ K>L>:K<A ?KHF : IK>OBHNL
,S"RS,*&RJ&6"4 *SS6
=;<;K3<<@3
>3 S6/3J<BB?K3-RS6RR6S3"RS*S6?BJ?K6
=B?G>;>34LL3S3L<;3<;>CL;;;>G;AA03?B3?3=B?
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
<A:IM>K $> =>M>KFBG>= MA:M  H? BG?HKF:MBHG P> M:D> BG BL EHLM :?M>K HGER  FBGNM>L PBMAHNM
K>OB>P "HK MA> L:F> K>:LHGL MA:M BMZL BFIHKM:GM MH M:D> GHM>L =NKBG@ E><MNK>L BMZL BFIHKM:GM MH M:D>
GHM>LPA>GRHN:K>K>:=BG@5HNKGHM>LPBEEA>EIRHN<HG<>GMK:M>K>F>F;>K:G=K>OB>P
Relate the information to you. 3> K>F>F;>K BG?HKF:MBHG MA:M P> =>>F BL BFIHKM:GM 0A>
LMK:M>@R MA>G BL MH F:D> PA:M RHN :K> LMN=RBG@ BFIHKM:GM MH RHN "BG= : P:R MH =BK><MER K>E:M>
PA:M RHN :K> LMN=RBG@ MH LHF>MABG@ BG RHNK EB?> /HF>MBF>L BM BL >:LR :G= LHF>MBF>L BM BL GHM NM
B? RHNK :MMBMN=> BL [% PBEE G>O>K NL> MABL BG?HKF:MBHG\ :G= [BMZL GHM BFIHKM:GM\ <A:G<>L :K> @HH=
MA:MRHNPBEEGHMK>F>F;>KBM
Read with a dictionary, or use an online dictionary. !LI><B:EER PBMA BG?HKF:MBHG MA:M BL G>P
MH NL P> F:R GHM :EP:RL K><H@GBS> :EE MA> PHK=L BG : M>QM;HHD HK MA>BK F>:GBG@L %? RHN K>:=
PBMAHNM : =B<MBHG:KR :G= RHN =HGZM DGHP PA:M : PHK= F>:GL RHN IKH;:;ER LMBEE PHGZM DGHP PA:M
BM F>:GL PA>G RHN `GBLA K>:=BG@ /MN=>GML PAH K>:= PBMA : =B<MBHG:KR HK PAH EHHD MA> PHK=
NI HGEBG> >QI:G= MA>BK OH<:;NE:KR :G= A:O> : ;>MM>K NG=>KLM:G=BG@ H? MA> M>QM 0:D> MA> MBF> MH
EHHD NI PHK=L RHN =H GHM DGHP GHMA>K LMK:M>@R BL MH MKR MH =>M>KFBG> =>`GBMBHGL H? NGDGHPG
PHK=L;R<HGM>QMMANL>EBFBG:MBG@MA>BGM>KKNIMBHGMHEHHDNIPHK=L
Ask a classmate or instructor when you have questions or if there are concepts you do
not understand. 2BLBMBG@ :G BGLMKN<MHKZL Hb<> AHNKL BL HG> H? MA> FHLM NG=>KNMBEBS>= <HEE>@>
K>LHNK<>L % MABGD LHF> LMN=>GML :K> LAR :;HNM @HBG@ :G= % NG=>KLM:G= MA:M ;NM NEMBF:M>ER BMZL
RHNK >QI>KB>G<> :G= BMZL NI MH RHN B? RHN P:GM MH F:D> MA> FHLM H? BM %? RHN @H RHN PBEE @>M
:GLP>KL MH RHNK JN>LMBHGL :M MA> L:F> MBF> RHNZEE =>FHGLMK:M> MH RHNK BGLMKN<MHK MA:M MA>BK <HNKL>
BL BFIHKM:GM MH RHN "BG= HNM PA>G RHNK IKH?>LLHKZL Hb<> AHNKL :K> MA>R :K> H?M>G EBLM>= BG MA>
LREE:;NL:LD;>?HK>HK:?M>K<E:LLHK>F:BERHNKIKH?>LLHKMH`G=HNM>IHEBM>:G=K>LI><M?NE
Read it again. /HF> LMN=>GML PBEE ;>G>`M ?KHF K>:=BG@ MA> F:M>KB:E : L><HG= HK MABK= MBF> :L BM
:EEHPL MA>F MH ;>MM>K NG=>KLM:G= MA> F:M>KB:E 0A> LMN=>GML PAH NG=>KLM:G= MA> F:M>KB:E MA> ;>LM
NLN:EER L<HK> MA> AB@A>LM HG >Q:FL %M F:R ;> >LI><B:EER A>EI?NE MH K>K>:= MA> <A:IM>K CNLM :?M>K MA>
BGLMKN<MHKA:LE><MNK>=HGBM
&B@/B3573A'='67<90=CB*63<,=C">3<,=C@'3FB0==9
Preview: (HHD :M PA:M RHN :K> K>:=BG@ :G= AHP BM BL <HGG><M>= PBMA HMA>K :K>:L H? MA> <E:LL $HP
=H>L BM <HGG><M PBMA MA> E><MNK> $HP =H>L BM <HGG><M PBMA MA> <HNKL> =>L<KBIMBHG $HP =H>L BM
<HGG><M PBMA MA> LREE:;NL HK PBMA : LI><B`< :LLB@GF>GM 3A:M IB><> H? MA> INSSE> :K> RHN EHHDBG@
:M :G= AHP =H>L BM `M BGMH MA> PAHE> IB<MNK> %? RHNK M>QM;HHD A:L : <A:IM>K LNFF:KR K>:=BG@ BM
`KLMF:RA>EIRHNIK>OB>P:G=NG=>KLM:G=PA:MRHN:K>@HBG@MH;>K>:=BG@
Headings and designated words: ,:R <EHL> :MM>GMBHG MH L><MBHG A>:=BG@L :G= LN;A>:=BG@L :G=
;HE=?:<> NG=>KEBG>= HK BM:EB<BS>= PHK=L :G= L>GM>G<>L 0A>K> BL : K>:LHG PAR MA>L> :K> =B_>K>GM
MA:GK>@NE:KM>QM0A>:NMAHK?>>ELMA>R:K>FHK>BFIHKM:GM:G=LHLAHNE=RHN
Highlighting: $B@AEB@AMBG@ BL GHM K><HFF>G=>= ;><:NL> MA>K> BL GHM >OB=>G<> LNIIHKMBG@ BM
A>EILLMN=>GMLPBMAK>:=BG@<HFIK>A>GLBHGHKAB@A>KM>LML<HK>L
?
?3 $S639!'4SSSR38SS34LL3G
<5DH9F+958=B;-9LH6CC?G 
Pace: +G> H? MA> ;B@@>LM <A:EE>G@>L % L>> LMN=>GML A:O> PBMA K>:=BG@ BL :<<NK:M>ER :LL>LLBG@ AHP
EHG@ BM PBEE M:D> MH K>:= PA:M BL :LLB@G>= %G F:GR <:L>L BMZL BFIHKM:GM MH ;K>:D MA> BG?HKF:MBHG NI
BG <ANGDL K:MA>K MA:G MH MKR :G= K>:= BM :EE :M HG<> %? RHN IKH<K:LMBG:M> :G= E>:O> BM NGMBE MA> =:R
;>?HK> BM G>>=L MH ;> K>:= :G= MA>G `G= HNM BM PBEE M:D> RHN EHG@>K MA:G RHN :GMB<BI:M> BM <:NL>L
IKH;E>FL +G> LMK:M>@R MA:M PHKDL P>EE ?HK F:GR LMN=>GML BL MH ;K>:D MA> BG?HKF:MBHG NI >JN:EER
I>K =:R :G= :=CNLM :<<HK=BG@ER B? BM M:D>L EHG@>K MA:G RHN A:= MAHN@AM <<NK:M>ER >LMBF:MBG@ AHP
FN<A MBF> BM PBEE M:D> MH IK:<MB<> MA> L>O>G K>:=BG@ IKBG<BIE>L :IIEB>= MH RHNK K>:=BG@ :LLB@GF>GML
BL:LDBEEMA:MM:D>LIK:<MB<>
=1).+%%0,8&1/-//$//+2>
P#C<B0CC89B
PBJA!=B::?C/:
'>>I BG FBG= MA:M MA> ;>LM LMN=>GML =>O>EHI K>:=BG@ LDBEEL MA:M :K> =B_>K>GM ?HK =B_>K>GM LN;C><ML
0A> F:BG JN>LMBHG RHN P:GM MH :LD RHNKL>E? BL 3AH :K> RHN K>:=BG@ ?HK G= PA:M :K> MA>
JN>LMBHGL MA:M =KBO> MA> =BL<BIEBG> 3> K>:= =B_>K>GM MABG@L ?HK =B_>K>GM INKIHL>L .>:=BG@ M>QML
;EH@L E>BLNK> ;HHDL :G= M>QM;HHDL :K> :EE =B_>K>GM >QI>KB>G<>L :G= P> K>:= MA>F PBMA =B_>K>GM
FBG=L>ML :G= =B_>K>GM LMK:M>@B>L 0A> L:F> BL MKN> ?HK M>QM;HHDL BG =B_>K>GM :K>:L .>:=BG@ :
F:MA>F:MB<L M>QM;HHD BL @HBG@ MH ;> =B_>K>GM MA:G K>:=BG@ : ABLMHKR M>QM;HHD : ILR<AHEH@R
M>QM;HHD : /I:GBLA M>QM;HHD HK : <KBFBG:E CNLMB<> M>QM;HHD "NKMA>K LMN=>GML F:R ;> :LLB@G>=
MH K>:= L<B>GMB`< CHNKG:EL HK :<:=>FB< :KMB<E>L H?M>G AHNL>= BG <HEE>@> EB;K:KB>LZ HGEBG> =:M:;:L>L
/<AHE:KER :KMB<E>L K>JNBK> : =B_>K>GM DBG= H? K>:=BG@ :G= MA:M EB;K:KB:GL :K> : K>LHNK<> ?HK AHP MH
`G= :G= K>:= MABL DBG= H? BG?HKF:MBHG IIERBG@ MA> IKBG<BIE>L BG MABL <A:IM>K PBEE A>EI PBMA RHNK
K>:=BG@ <HFIK>A>GLBHG ;NM BMZL BFIHKM:GM MH K>F>F;>K MA:M RHN PBEE G>>= MH =>O>EHI LI><B`<
K>:=BG@LDBEELFHLMA>EI?NEMHMA>I:KMB<NE:KLN;C><MRHN:K>LMN=RBG@
713<A3A/<2BB@70CB7=<A
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2
SS3LGSGSG<L=;<DL<LDLRGSSSGGRG
J"S=C6=;<DK3
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
<5DH9FCBH9LH@I9G5B8@CG9+958=B;
:CF%=H9F5HIF9
=<B3FB:C3A
>LB=>L <EN>L MH A>EI RHN =>M>KFBG> MA> I:MM>KG HK @>GK> H? : K>:=BG@ L>E><MBHG MA>K> :K> <EN>L MH
A>EI RHN `@NK> HNM MA> F>:GBG@ H? LI><B`< PHK=L MA:M :K> NG?:FBEB:K MH RHN $>K> :K> MA> `O>
FHLM<HFFHG
 Definition/Explanation CluesLHF>MBF>LMA>F>:GBG@H?:PHK=HKIAK:L>BL@BO>GKB@AM
:?M>KBMLNL>
!Q:FIE>0:QB=>KFRMA>:KMH?IK>I:KBG@LMNbG@:G=FHNGMBG@MA>LDBGLH?:GBF:EL
>LI><B:EERO>KM>;K:M>L?HK=BLIE:RHK?HKHMA>KLHNK<>LH?LMN=R BLIHINE:K:FHG@FNL>NF
<NK:MHKL
 Restatement/Synonym CluesLHF>MBF>L:PHK=BLIK>L>GM>=BG:LBFIE>KP:R
!Q:FIE>/MNbG@=>:=:GBF:ELA:L;>>G:=K>:FH?/M>=F:G*BF;E>;H=R:NMAHKH?
#:+&'4/;*417)*6*')'5 >O>KLBG<>ABLI>MLG:D>=B>=PA>G/M>==B>P:LLBQR>:KLHE=$>
LMBEEFBLL>L)K/<:ER":<>
 Contrast/Antonym CluesLHF>MBF>LMA>F>:GBG@H?:PHK=BL<E:KB`>=;RIK>L>GMBG@:
PHK=HKIAK:L>HIIHLBM>H?BMLF>:GBG@
!Q:FIE>(BMME>/M>==B>P:GM>=MHOBLBMMA>0:QB=>KFR)NL>NF;NMMA>K>LMH?MA>?:FBER
IK>?>KK>=:MKBIMHMA>6HHMHL>>EBO>:GBF:EL
 Inference/General Context CluesLHF>MBF>LMA>F>:GBG@H?:PHK=HKIAK:L>BLBGMA>
LNKKHNG=BG@L>GM>G<>LHKFNLM;>BG?>KK>=HKBFIEB>=;RMA>@>G>K:EF>:GBG@H?:L>E><MBHG
!Q:FIE>3A>G/M>==B>`G:EER@HMMA><A:G<>MHOBLBMMA>0:QB=>KFR)NL>NFA>P:LO>KR
>Q<BM>=$>>O>G?HNG=:LMN_>=LG:D>MA:MEHHD>=>Q:<MEREBD>)K/<:ER":<>[&NLMMABGD\
A>>Q<E:BF>=MHABLI:K>GML[%?)K/<:ER":<>P:LLMN_>=%<HNE=LMBEEM>:L>MA><:M:G=MA>
=H@PBMAABF\
 PunctuationMA><HKK><MNL>H?ING<MN:MBHGA>EIL:K>:=>K@>MMA>F>:GBG@H?:M>KF
IAK:L>HKMAHN@AM(BD>PBL>BG<HKK><MERIE:<>=HKFBLLBG@ING<MN:MBHGLHF>MBF>L@BO>L:G
>GMBK>ER=B_>K>GM:G=BG<HKK><MF>:GBG@:<KHLL
!Q:FIE>
)BLLBG@ING<MN:MBHG%LBMMBF>MH>:M#K:G=F:
HKK><M>=%LBMMBF>MH>:M#K:G=F:
+%P&
-<9F9 5F9 A5BM 9L5AD@9G CB@=B9 C: DIB7HI5H=CB 9FFCFG =B G=;BG H<5H 7<5B;9 H<9
A95B=B; F95H957<5FHGI7<5GH<9CB969@CK:CFC:H<9G=;BGH<5HMCIF95@@M@=?9
0"--",\!',2, 0"--",\!'+%%2&',





:=A3%3/27<5
D884;E +A '84*7-*92@ 2;27<1. =+52,
86*27
%G :==BMBHG MH NLBG@ K>:=BG@ <HFIK>A>GLBHG LDBEEL LN<A :L IK>=B<MBG@ OBLN:EBSBG@ [M:EDBG@ MH MA>
M>QM\ LDBFFBG@ : M>QM;HHD ;>?HK> K>:=BG@ :G= GHMBG@ <HGM>QM <EN>L :GHMA>K LMK:M>@R <:EE>= [<EHL>
K>:=BG@\ BL A>EI?NE 0ABL BL IHINE:K PBMA EBM>K:MNK> IKH?>LLHKL AHP>O>K MA> LDBEEL BGOHEO>= BG <EHL>
K>:=BG@:K>:IIEB<:;E>MH:GR<HFIE>QK>:=BG@:LLB@GF>GM
/BG<> MABL DBG= H? <HFIK>A>GLBHG LM:KML PBMA DGHPBG@ GHMABG@ :;HNM MA> >E>F>GML H? : LMHKR
GHO>EIH>FHK>LL:R%LM:G=PBMAFR:KFLLIK>:=PB=>
% MA>G =BL<NLL ;KB>aR >:<A >E>F>GM H? : PHKD LM:KMBG@ PBMA MA> MBME> :L : IE:<> MH ;>@BG
<HFIK>A>GLBHGPABE>LEHPERFHOBG@FR:KFLMHP:K=HG>:GHMA>K:?>PBG<A>LI>K>E>F>GM
0BME>L ?HK LM:KM>KL I:KMB<NE:KER H? GHG`<MBHG PHKDL NLN:EER M>EE RHN IK><BL>ER PA:M MA> F:BG
B=>: HK MA>LBL BL "HK >Q:FIE> : ;HHD :;HNM [0A> $BLMHKR H? MA> .HF:G !FIBK>\ NLN:EER @BO>L
RHNCNLMMA:MWMA>ABLMHKRH?MA>.HF:G!FIBK>
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
0ABL BL GHM NLN:EER MKN> AHP>O>K ?HK PHKDL H? `<MBHG ?HK PAB<A BG?>K>G<> BL MA> D>R MH
<HFIK>A>GLBHG "HK >Q:FIE> [/MHKR H? :G $HNK\ ;R ':M> AHIBG PABE> BM FB@AM L>>F MH ;>
LHF>MABG@ :;HNM MBF> :ELH LN@@>LML BM BL :;HNM LHF>MABG@ HMA>K MA:G : <EH<D MB<DBG@ :P:R L><HG=L
:G=FBGNM>L:G=BG=>>=BMBL
% G>QM :== MA> :NMAHK :L MABL FB@AM :B= <HFIK>A>GLBHG "HK >Q:FIE> FHLM LMN=>GML :K> ?:FBEB:K
PBMA /M>IA>G 'BG@ PAH PKBM>L BG MA> AHKKHK @>GK> 'GHPBG@ MABL >E>F>GM ;KBG@L MA> :KFL BG :
;BM <EHL>K :L MA> K>:=>K PBEE DGHP MH :GMB<BI:M> :G= IK>=B<M : AHKKHK LMHKR PBMA : EHM H? IEHM MPBLML
:G=MNKGLBGLHF>AHKKB;E>P:RL,K>=B<MBHGA:L;>@NG
*>QM % ;KB>aR =BL<NLL AHP DGHPBG@ :;HNM MA> K>F:BGBG@ >E>F>GML W IEHM <A:K:<M>KL :G=
L>MMBG@ W A>EI MA> K>:=>K <EHL> BG HG F>:GBG@ >GHN@A MH ;> :;E> MH =BL<NLL MA> MA>F> HK MA>F>L H?
MA>PHKDPBMAK>:LHG:;E>>OB=>G<>MHLNIIHKMHG>ZL<HG<ENLBHG
0ABL OBLN:E H? MA> :KFL @>MMBG@ <EHL>K MH@>MA>K <:G <HGMBGN> MAKHN@A : =BL<NLLBHG H? <EHL>
K>:=BG@ H? LF:EE I:LL:@>L BG=BOB=N:E L>GM>G<>L :G= >O>G LI><B`< PHK=L !:<A E>O>E H? <:K>?NE
:MM>GMBHG :G= MAHN@AM A>EIL : K>:=>K [K>:= ;>MP>>G MA> EBG>L\ PA>G F>:GBG@ BL GHM HO>KMER LM:M>=
PA>GMA>F>L:K>BG?>KK>=K:MA>KMA:G>QIE:BG>=HNMKB@AM
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BHDF9J=CIG@MG<5F98
"CKHC%95FB%=?95)FCIH<CF986M)<M@@=G'=GG=@52
85DH=CBG <5B;98 :CFA5HH=B; <5B;98 H=H@9 C: 7<5DH9F HC CBH9LH @I9G 5B8 @CG9 +958=B; :CF
%=H9F5HIF9 7CA6=B98 7<5DH9F K=H< 7CBH9BH :FCA @CG9 +958=B; :CF %=H9F5HIF9 F9ACJ98 )5HH9FBG
7CBH9BH5B89L9F7=G9
TCC?GU =A5;96M 0C?5B85D=L =G=BH<9 )I6@=7CA5=B
<5DH9FCBH9LH@I9G5B8@CG9+958=B;:CF%=H9F5HIF9 
(<7B7AB3<7<5/<2!=B3'/97<5
3/@<7<5"0831B7D3A
:H9FMCI<5J97CAD@9H98H<=GIB=HMCIG<CI@86956@9HC
V LD@5=B<CKHCH5?9BCH9G8IF=B;@97HIF9G
V 9G7F=69<CKHCH5?9BCH9G:FCAH9LH6CC?G5B8CH<9FA5H9F=5@G
V LD@5=BJ9F65@BCBJ9F65@5B8DF=BH7@I9GHC<9@DMCIH5?9:C7IG98BCH9G
V \89BH=:MCFB9@@GHM@9BCH9G
V \89BH=:M5B87CAD5F9CH<9FBCH9H5?=B;:CFA5HG
V =G7IGGH<9=ADCFH5B795B8J5@I9C:H5?=B;BCH9G
V LD@5=B66=B;<5IGS:CF;9HH=B;7IFJ95B8H<9F5H9C::CF;9HH=B;
V 9G7F=6965G=7GHF5H9;=9G:CFH5?=B;@97HIF9BCH9G
V =G7IGGH<9=ADCFH5B79C:F9J=9K=B;BCH9G
713<A3/<2BB@70CB7=<A
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2
@=79BG987CBH9BHDF9J=CIG@MG<5F98
"CKHC%95FB%=?95)FCIH<CF986M)<M@@=G'=GG=@52
<5DH9F)F9D5F5H=CB:CF'CH9-5?=B;
!=<)3@0/:=;;C<71/B7=<
3A>GP>MABGD:;HNMEBLM>GBG@P>MABGD:;HNMP>EEA>:KBG@LHNG=LOB:MA>>:KL$HP>O>K
PA>GBM<HF>LMHEBLM>GBG@BGHK=>KMHIB<DNID>RIHBGML?HKGHM>M:DBG@BMM:D>LFHK>MA:GCNLM
A>:KBG@%GMABL<:L>BMM:D>L:[<KBMB<:E>:K\MA:MBL:;LHK;BG@D>RIHBGML;RGHMB<BG@GHMHGERMA>
PHK=LLIHD>G;NM:ELH;RGHMBG@MHG>LOHENF>:G=>O>GMA>;H=RE:G@N:@>MA:M@H>L:EHG@
==BMBHG:EER;>BG@:G:<MBO>EBLM>G>KBG<K>:L>L:GHM>M:D>KZL<A:G<>LH?@>MMBG@MA>BG?HKF:MBHG
G>>=>=!Q>K<BL>BEENLMK:M>L<HFFHGGHGO>K;:E<HFFNGB<:MBHG
+%P&
)+-
%=GH5G A5BMBCBJ9F65@9ACH=CB5@7I9G5GMCI75B6MGHI8M=B;H<9:579G=BH<9D=7HIF9G 69@CK
T.B=J9FG5@ACH=CBGU 6M \79F?C%O8=5 =G@=79BG98IB89F 2
)+-
-<9=A5;969@CK=@@IGHF5H9GBCBJ9F65@6C8M@5B;I5;99G7F=695:9KDCG9GCF6C8MACJ9A9BHG
CB9CFACF9C:MCIFH957<9FGBCKCF:FCAH<9D5GHH5?9GCF<5GH5?9BH<5H7CAAIB=75H9GD5M
7@CG9F5HH9BH=CB\HA=;<H69:FCAH<9G99L5AD@9GCFGCA9H<=B;EI=H98=[9F9BH CF9L5AD@95B
=BGHFI7HCFA=;<HACJ97@CG9HCH<9:FCBHFCK5B8:C@8<=G<9F5FAGHC=B8=75H9H<5HK<5H<9CFG<9
K=@@69G5M=B;=GC:5ACF9G9F=CIGB5HIF9 CF5BCH<9F9L5AD@9=:<9CFG<9ACJ9GHCK5F8H<9K<=H9
6C5F8HCKF=H9GCA9H<=B;=HSGDFC656@M?9M=B:CFA5H=CB
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
T&9B,=@<CI9HH9U 6M ;9F5@H =G=BH<9 )I6@=7CA5=B
1B7D37AB3<7<5
%GIK>OBHNLNGBMLP><HO>K>=P:RLMA:MLMN=>GML<:G:<MBO>ER>G@:@>BGMA>E>:KGBG@IKH<>LLBG
HK=>KMH@>MMA>FHLMHNMH?MA>BK>=N<:MBHG0A>K>:K>P:RLMH:<MBO>EREBLM>G:LP>EEBGHK=>KMH
@>MMA>FHLMHNMH?E><MNK>L:G=FHK>BFIHKM:GMERM:D>:EEH?MA>GHM>LMA:MFB@AM;>K>JNBK>=
0A>OB=>HBGMA>G>QM>Q>K<BL><HO>KLL>O>K:E:<MBO>EBLM>GBG@LMK:M>@B>L:EHG@PBMAPARP>
LHF>MBF>LA:O>=Bb<NEMREBLM>GBG@
+%P&
)+-
<5DH9F)F9D5F5H=CB:CF'CH9-5?=B; 
05H7<H<9-H5@?69@CK5B85BGK9FH<9:C@@CK=B;EI9GH=CBG
)723= 5 Ways to Listen Better5 Ways to Listen BetterC:7/<'@3/AC@3/B':=0/:
- 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
 0<5HHMD9GC:@=GH9B=B;8C9GH<9GD95?9F8=G7IGG
 "CK5B8K<M<5J9K9699BT@CG=B;CIF56=@=HMHC@=GH9BU5GH<9GD95?9FGI;;9GHG"9
7=H9GK5MG
 0<5H5F9H<9HCC@GK975BIG9HC@=GH9B69HH9F
)+-
-5?=B; =BHC 7CBG=89F5H=CB 5@@ C: H<9 57H=J=H=9G =B H<9 9L9F7=G9G 56CJ9 KF=H9 5 CB9D5;9  KCF8G
F9Y97H=CB CB <CK MCI 75B IG9 H<9 =B:CFA5H=CB CB BCBJ9F65@ 5B8 @=GH9B=B; G?=@@G HC 9B<5B79 6CH<
MCIF56=@=HMHCD5M5HH9BH=CBHC@97HIF9G5B8HCH5?969HH9FBCH9GCBH<9A
,>KA:IL MA> FHLM NL>?NE E>:KGBG@ MHHEL H? :EE :K> GHM>L M:D>G ?KHF ;HMA E><MNK>L :G= <HNKL>
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
F:M>KB:EL R :GGHM:MBG@ ?HK D>R BG?HKF:MBHG MA>G <HG=>GLBG@ BM LMN=>GML <K>:M> I>KLHG:EBS>=
LNFF:KB>LA>EI?NE?HKLMN=RBG@
+?M>G LMN=>GML :K> NGLNK> :;HNM PA:M <HGLMBMNM>L [D>R BG?HKF:MBHG\ $>K> BL : EBLM H? BM>FL MH
AB@AEB@AMHK:GGHM:M>?HKBGM>QM;HHDL:G=:EBLMH?BM>FLMHEBLM>G?HKBGE><MNK>L
3GP<4=@;/B7=<7<'3FB0==9A
0A> ?HEEHPBG@ >E>F>GML H? : M>QM;HHD <A:IM>K :K> >LI><B:EER BFIHKM:GM BG A>EIBG@ RHN =BL<>KG D>R
BG?HKF:MBHG
] %GMKH=N<MBHGL
] /NFF:KB>L
] /MN=RJN>LMBHGL
] 0HIB<L>GM>G<>L:LMA>LI>:D>KBGMA>OB=>HHG[/DBF.>:=BG@\>Q>K<BL>:ELHBG(>LLHG
GHM>LLHF>MBF>LMA>K>:=>KA:LMHK>:=MA>`KLMMPHHK>O>GMAK>>L>GM>G<>LH?:I:K:@K:IAHK
L><MBHGMH@>MMA>>GMBK>F:BGMHIB<
] GRMABG@MA:MBL;HE=>=HKBGLHF>HMA>KP:RL>MH_?KHFMA>=>?:NEMIKBGMLBS>:G=LMRE>/N;
MHIB<MBME>L:K>@HH=>Q:FIE>LH?MABL
] [/B=>;:KL\PAB<A:K>;HQ>LH?K>E:M>=BG?HKF:MBHG0A>L>FB@AMBG<EN=>LM:MBLMB<L;KB>?
;BH@K:IAB>LH?:NMAHKLHKI>KLHGLH?GHM>K>E:M>=MHMA><A:IM>K<HGM>GMIKB<>IHBGMLHG
;KH<ANK>L?HK;NLBG>LL>L<A:KML@K:IALIAHMH@K:IAL:G=HKBEENLMK:MBHGL0A>R:K>MRIB<:EER:
=B_>K>GM<HEHKHKBGLHF>HMA>KP:RL>MH_?HK:MM>GMBHG;NMGHM:LMA>?H<:EIHBGMH?MA>M>QM
,:R:MM>GMBHGMHMA><:IMBHGLHKE>@>G=LMA:MFB@AM:<<HFI:GR@K:IAB<L%GMABL>M>QMMA>
>Q>K<BL>L:K>L>M:I:KMBGLB=>;:KL
] #EHLL:KRM>KFLMA:MF:R;>BG<HKIHK:M>=BGMA>F:K@BGLHKHMA>KPBL>L>M:I:KM
] /HF>M>QM;HHDLBG<EN=>HNMEBG>LH?>:<A<A:IM>KZLF:BGIHBGMLBGMA>BGMKH=N<MHKRL><MBHG
3GP<4=@;/B7=<7<31BC@3A
L MA> E><MNK>K EBO> HK OB=>H IK>L>GML MA> F:M>KB:E MA>K> :K> MPH MRI>L H? D>R BG?HKF:MBHG <N>L MH
;>:P:K>H?
*+*2!.(1!/
LI>:D>K PBEE H?M>G A:O> NGBJN> ?:<B:E :G= ;H=R GHGO>K;:E <N>L MA:M :E>KM RHN MH L>O>K:E MABG@L
:LRHNE>:KGMH[K>:=\RHNKIKH?>LLHK
] /M:G<>LHKFHO>F>GMLMA:M:E>KMRHNMHPA>GA>LA>PBEELAB?MMH:=B_>K>GMMHIB<HKLN;MHIB<
] +MA>K<N>LMA:M:E>KMRHNMHPA>GMA>BG?HKF:MBHGBLH?LI><B:ELB@GB`<:G<>BG<EN=BG@O>K;:E
<EN>L;>EHP
<5DH9F)F9D5F5H=CB:CF'CH9-5?=B; 
2!.((1!/
] ,:R:MM>GMBHGMHPA>GMA>LI>:D>KNL>L:GRH?MA>MK:GLBMBHG<EN>LNL>=BGK>:=BG@
<HFIK>A>GLBHG
] ):GRLI>:D>KL:ELH:GGHNG<>PA>GMA>R:K>:==BG@BG?HKF:MBHGHK<A:G@BG@MHIB<LBGO:KBHNL
HMA>KP:RL
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BHDF9J=CIG@MG<5F98
"CKHC%95FB%=?95)FCIH<CF986M)<M@@=G'=GG=@52
85DH=CBG <5B;98 :CFA5HH=B; F9ACJ98 9ACH=7CB =A5;9 9A698898 -98 -5@? J=89C G@=;<H 98=HG :CF
7CBG=GH9B7M7CA6=B98%9GGCBG5B8F9H=H@987<5DH9F
#I@=5B -F95GIF9 05MG HC %=GH9B 9HH9F IH<CF98 6M -7CA %C75H98 5H <HHDGKKKH987CA
H5@?G>I@=5B4HF95GIF944K5MG4HC4@=GH9B469HH9F@5B;I5;99BH
%=79BG92P'P'\BH9FB5H=CB5@
T.B=J9FG5@ACH=CBGU =A5;96M \79F?C%O8=5 =G@=79BG98IB89F 2
T&9B,=@<CI9HH9U =A5;96M ;9F5@H =G=BH<9 )I6@=7CA5=B
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
<5DH9F-5?=B;'CH9G=B@5GG
=%,)23%.26%,,6(/3!+%2./3%2>
P5BH9@=;<=9F=
'/93!=B3A'=%3;3;03@
%? ?HK GH HMA>K K>:LHG RHN LAHNE= M:D> GHM>L =NKBG@ <E:LL LH MA:M RHN =H GHM ?HK@>M O:EN:;E> :G=
BFIHKM:GM BG?HKF:MBHG >LIBM> EBOBG@ PBMA BG<K>=B;E> L>:K<A >G@BG>L HG <HFINM>KL :G= LF:KM
IAHG>L MA:M @BO> NL : IE>MAHK: H? BG?HKF:MBHG  AHNKL : =:R L>O>G =:RL : P>>D LMN=>GML =H
GHM A:O> MA> :;BEBMR MH :<<>LL MAHL> =NKBG@ >Q:FL %GLMKN<MHKL P:GM MH DGHP PA:M RHN DGHP GHM
PA:M #HH@E> DGHPL 3>ZO> ;><HF> :<<NLMHF>= MH L>:K<ABG@ ?HK BG?HKF:MBHG HG =>F:G= MH `G=
PA:M P> G>>= PA>G P> G>>= BM 0A> <HGL>JN>G<> BL MA:M P> =HGZM H?M>G <HFFBM BG?HKF:MBHG
MH F>FHKR ;><:NL> P> DGHP BM PBEE ;> MA>K> MHFHKKHP B? P> PBLA MH L>:K<A ?HK BM :@:BG 0ABL
<:NL>L <A:EE>G@>L PBMA IK>I:K:MBHG ?HK >Q:FL :L PA:M P>ZK> M>LM>= HG BL BG HNK ;K:BG K:MA>K
MA:G BG?HKF:MBHG P> <:G L>:K<A ?HK 0ANL MA>K> BL :G BFIHKM:G<> H? M:DBG@ GHM>L [*HM>M:DBG@
?:<BEBM:M>L ;HMA K><:EE H? ?:<MN:E F:M>KB:E :G= MA> LRGMA>LBL :G= :IIEB<:MBHG H? G>P DGHPE>=@>
I:KMB<NE:KERPA>GGHM>L:K>K>OB>P>=IKBHKMH>Q:FL\
<
L RHN F:R K><:EE ?KHF 0A> :LB<L H? /MN=R /DBEEL A:IM>K $>KF:GG !;;BG@A:NL LMN=B>=
MA> K:M> H? ?HK@>MMBG@ :G= ?HKFNE:M>= ABL [?HK@>MMBG@ <NKO>\ MA>HKR ,>K?HKF : P>; L>:K<A ?HK
[!;;BG@A:NL?HK@>MMBG@<NKO>\
0A> <NKO> LAHPL MA:M :?M>K HG> FHGMA HGER  I>K<>GM H? BG?HKF:MBHG BL K>M:BG>= :?M>K BGBMB:E
F>FHKBS:MBHG 3BMAHNM K>OB>P  I>K<>GM H? E>:KG>= BG?HKF:MBHG BL EHLM :?M>K HGER  FBGNM>L
?M>KHG>=:RI>K<>GMH?E>:KG>=BG?HKF:MBHGBLEHLMPBMAHNMK>OB>P
%G HK=>K MH MKR MH K>M:BG BG?HKF:MBHG EHG@ M>KF P> FNLM FHO> BM ?KHF HNK LAHKMM>KF F>FHKR
<3 &26&6! 6!"3&R39+,)S4
RSS%,34LL3R33RS3L5L
R<@AI3J=;;<K3
MH HNK EHG@M>KF F>FHKR +G> H? MA> ;>LM P:RL MH =H MA:M BL MAKHN@A K>I>MBMBHG 0A> FHK> P>
K>OB>P BG?HKF:MBHG :G= MA> LHHG>K P> K>OB>P HG<> P> BGBMB:EER E>:KG BM MA> FHK> K>BG?HK<>= MA:M
BG?HKF:MBHGBLBGHNKEHG@M>KFF>FHKR
0A> `KLM LM>I BG ;>BG@ :;E> MH K>OB>P BL MH M:D> GHM>L PA>G RHN :K> HKB@BG:EER E>:KGBG@ MA>
BG?HKF:MBHG /MN=>GML PAH =H GHM M:D> GHM>L BG <E:LL BG MA> `KLM IE:<> PBEE GHM ;> :;E> MH K><:EE :EE
H?MA>BG?HKF:MBHG<HO>K>=BGHK=>KMH;>LMK>OB>P
0:DBG@ GHM>L =NKBG@ E><MNK>L BL : LDBEE CNLM EBD> KB=BG@ : ;BD> %? RHN A:O> G>O>K M:D>G GHM>L
PABE> LHF>HG> >EL> BL LI>:DBG@ ;>?HK> BMZL BFIHKM:GM MH DGHP MA:M RHN PBEE GHM ;> :G >QI>KM :M
BM KB@AM :P:R %M BL <A:EE>G@BG@ MH EBLM>G MH LHF>HG> LI>:D :G= MA>G F:D> : GHM> :;HNM PA:M MA>R
L:B=PABE>:MMA>L:F>MBF><HGMBGNBG@MHEBLM>GMHMA>BKG>QMMAHN@AM
3A>G E>:KGBG@ MH KB=> : ;BD> >O>KRHG> BL @HBG@ MH ?:EE 3BMA IK:<MB<> :G= <HG<>GMK:MBHG
P> @:BG <HG`=>G<> :G= BFIKHO> HNK LDBEE 0A> FHK> P> IK:<MB<> MA> ;>MM>K P> @>M %G ABL
;HHD +NMEB>KL ):E<HEF #E:=P>EE K>?>KL MH MA> [AHNK KNE>\ :L>= HG K>L>:K<A ;R G=>KL
!KB<LLHG MA> KNE> LM:M>L MA:M  AHNKL H? =>=B<:M>= IK:<MB<> BG RHNK I:KMB<NE:K `>E= PBEE :EEHP
?HK MA> @K>:M>LM IHM>GMB:E H? F:LM>KR % =H GHM >QI><M RHN MH IK:<MB<> M:DBG@ GHM>L ?HK  AHNKL
;NMMA>IHBGMBLMA:MIK:<MB<>CNLMEBD>F:GRMABG@LBLG><>LL:KRMH;><HF>FHK>LDBEE>=
=
/HF> BGLMKN<MHKL PBEE @BO> RHN <N>L MH E>M RHN DGHP LHF>MABG@ BL BFIHKM:GM %? RHN A>:K HK
L>> HG> H? MA>L> <N>L BMZL LHF>MABG@ RHN LAHNE= PKBM> =HPG 0ABL FB@AM BG<EN=> :G BGLMKN<MHK
L:RBG@ [MABL BL BFIHKM:GM\ HK [MABL PBEE ;> <HO>K>= HG MA> >Q:F\ %? RHN GHMB<> :G BGLMKN<MHK @BOBG@
FNEMBIE> >Q:FIE>L K>I>:MBG@ BG?HKF:MBHG HK LI>G=BG@ : EHM H? MBF> PBMA HG> B=>: MA>L> F:R ;>
<N>L3KBMBG@HGMA>;H:K=HKIK>L>GMBG@:A:G=HNMHKOBLN:EBG?HKF:MBHGF:R:ELH;>:<N>
0A>K> :K> F:GR =B_>K>GM P:RL MH M:D> GHM>L =NKBG@ E><MNK>L :G= % >G<HNK:@> RHN MH `G= MA> P:R
MA:M PHKDL ;>LM ?HK RHN B_>K>GM LRLM>FL PHKD ;>LM ?HK =B_>K>GM I>HIE> !QI>KBF>GM BG =B_>K>GM
P:RLMH`G=MA>FHLMLN<<>LL
'7>A4=@'/97<5!=B3AC@7<5B6331BC@3
KKBO> >:KER :G= `G= : @HH= L>:M />:ML BG MA> ?KHGM :G= <>GM>K :K> ;>LM ?HK ;>BG@ :;E> MH L>> :G=
A>:K BG?HKF:MBHG L>:M :M MA> R:K= EBG> ?HK MA> /NI>K HPE BL FHK> >QI>GLBO> ?HK : K>:LHG BM
@BO>LMA>LI><M:MHKMA>@K>:M>LM>QI>KB>G<>
H GHM MKR MH PKBM> =HPG >O>KRMABG@ MA> BGLMKN<MHK M:EDL :;HNM %MZL BFIHLLB;E> :G= BG>b<B>GM
%GLM>:= MKR MH =BLMBG@NBLA ;>MP>>G MA> FHLM BFIHKM:GM MHIB<L :G= B=>:L :G= PKBM> MAHL> =HPG
0ABL BL :ELH : LDBEE MA:M LMN=>GML <:G BFIKHO> NIHG 5HN F:R PBLA MH :LD RHNK BGLMKN<MHK =NKBG@
Hb<> AHNKL B? RHN A:O> B=>GMB`>= MA> F:BG MHIB<L BG RHNK GHM>L HK <HFI:K> RHNK GHM>L MH HG> H?
RHNK<E:LLF:M>L
1L> LAHKMA:G= :G=HK :;;K>OB:MBHGL /H EHG@ :L RHN PBEE ;> :;E> MH =><BIA>K PA:M RHN :K>
PKBMBG@ MA> E>:LM :FHNGM H? I>G HK I>G<BE LMKHD>L MA> ;>MM>K %M PBEE ?K>> RHN NI LH RHN <:G I:R
FHK>:MM>GMBHGMHMA>E><MNK>:G=A>EIRHN;>:;E>MH=>M>KFBG>PA:MBLFHLMBFIHKM:GM
=3 "S3-+&S*SS"SSS*RG
*S+SJ/S&3$34"RS*S"SS6<BB>K3>B>G>B?3
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
3KBM> =HPG PA:M RHNK BGLMKN<MHK PKBM>L GRMABG@ HG : =KR >K:L> ;H:K= <A:ED;H:K= HO>KA>:=
IKHC><MHK:G=BGLHF><:L>LBGIK>L>GM:MBHGLMA>L>:K><N>L?HKBFIHKM:GMBG?HKF:MBHG
(>:O> LI:<> MH :== BG?HKF:MBHG MH RHNK GHM>L 5HN <:G NL> MABL LI:<> =NKBG@ HK :?M>K E><MNK>L MH
>E:;HK:M>HGB=>:L
H GHM PKBM> BG <HFIE>M> L>GM>G<>L H GHM PHKKR :;HNM LI>EEBG@ HK ING<MN:MBHG #>MMBG@ MA>
BFIHKM:GM BG?HKF:MBHG <HG<>IML :G= F:BG B=>:L BL FN<A FHK> BFIHKM:GM 5HN <:G :EP:RL K>OBL>
RHNKGHM>LE:M>K:G=<HKK><MLI>EEBG@
+?M>G MA> FHLM BFIHKM:GM BG?HKF:MBHG BL =>EBO>K>= :M MA> ;>@BGGBG@ :G=HK MA> >G= H? : E><MNK>
):GR LMN=>GML :KKBO> E:M> HK I:<D NI MA>BK ;>EHG@BG@L :G= F>GM:EER <A><D HNM : ?>P FBGNM>L ;>?HK>
MA> E><MNK> >G=L 0A>R :K> FBLLBG@ HNM HG MA> HIIHKMNGBMR MH PKBM> =HPG O:EN:;E> BG?HKF:MBHG
'>>IM:DBG@GHM>LNGMBEMA>E><MNK>BL<HFIE>M>
'63=@<3::&GAB3;
+G> P:R H? M:DBG@ GHM>L BG <E:LL BL NLBG@ MA> HKG>EE /RLM>F K>:M>= BG MA> L ;R 3:EM>K
,:ND :M HKG>EE 1GBO>KLBMR MA> HKG>EE /RLM>F BL LMBEE PB=>ER NL>= MH=:R ,>K?HKF : P>; L>:K<A
?HK[HKG>EEGHM>M:DBG@F>MAH=\
0A>GHM>M:DBG@:K>:BL?HKRHNMHNL>MHK><HK=GHM>L=NKBG@E><MNK>L
/MN=>GML NL> MA> <HENFG HG MA> E>?M MH <K>:M> JN>LMBHGL :?M>K MA> E><MNK> A:L >G=>= 0A> JN>LMBHGL
:K> ;:L>= HG MA> F:M>KB:E <HO>K>= 0ABGD H? BM :L : P:R MH JNBS RHNKL>E? 0A> GHM>L RHN MHHD LAHNE=
:GLP>KMA>JN>LMBHGLRHN<K>:M>
$29;/8:*/<.:<1.5.,<=:.
HGLHEB=:M> GHM>L :L LHHG :L IHLLB;E> :?M>K MA> E><MNK> A:L >G=>= %=>GMB?R MA> F:BG B=>:L :G=
NG=>KEBG>HKAB@AEB@AMMA>F
0>LM RHNKL>E? ;R EHHDBG@ HGER :M MA> JN>LMBHGL HG MA> E>?M %? RHN <:G IKHOB=> FHLM H? MA>
BG?HKF:MBHG HG MA> GHM>L LB=> PBMAHNM EHHDBG@ :M BM RHNZK> BG @HH= LA:I> %? RHN <:GGHM D>>I
LMN=RBG@ NGMBE RHN BFIKHO> RHNK K>M>GMBHG .>OB>P I>KBH=B<:EER :L G>>=>= MH D>>I MA> BG?HKF:MBHG
?K>LABGRHNKFBG=
/MN=>GML NL> MA> ;HMMHF :K>: ?HK LNFF:KBSBG@ BG?HKF:MBHG ,K:<MB<> LNFF:KBSBG@ BG?HKF:MBHG
X BMZL : @K>:M LMN=R LDBEE %M :EEHPL RHN MH =>M>KFBG> AHP BG?HKF:MBHG `ML MH@>MA>K %M LAHNE=
;> PKBMM>G BG RHNK HPG PHK=L =HGZM NL> MA> <A:IM>K LNFF:KR BG MA> M>QM;HHD MH PKBM> RHNK
LNFF:KR;NM<A><DMA><A:IM>KLNFF:KR:?M>KRHNPKBM>RHNKL?HK:<<NK:<R
'63"CB:7<3 3B6=2
GHMA>K P:R MH M:D> GHM>L BL MA> HNMEBG> F>MAH= /MN=>GML NL> :G HNMEBG> MH LAHP MA> K>E:MBHGLABI
;>MP>>G B=>:L BG MA> E><MNK> +NMEBG>L <:G A>EI LMN=>GML L>I:K:M> F:BG B=>:L ?KHF LNIIHKMBG@
=>M:BEL:G=LAHPAHPHG>MHIB<<HGG><MLMH:GHMA>K
,>K?HKF:P>;L>:K<A?HK[HNMEBG>GHM>M:DBG@F>MAH=\MHL>>PA:MMA>REHHDEBD>
<5DH9F-5?=B;'CH9G=B@5GG 
7<2 />A
2BLN:E E>:KG>KL F:R P:GM MH >QI>KBF>GM PBMA FBG= F:IL :ELH <:EE>= <ENLM>KBG@ %GO>GM>= ;R
0HGR NS:G BG MA> L BMZL :GHMA>K P:R H? HK@:GBSBG@ BG?HKF:MBHG =NKBG@ E><MNK>L /M:KM PBMA
: <>GMK:E B=>: BG MA> <>GM>K H? MA> I:I>K E:G=L<:I> BL K><HFF>G=>= 1LBG@ ;K:G<A>L EBD> :
MK>> LNIIHKMBG@ B=>:L <:G LNIIE>F>GM MA> F:BG B=>: .><:EE >O>KRMABG@ RHN <:G :L MA> E><MNK>
BL A:II>GBG@ .>HK@:GBS:MBHG <:G ;> =HG> E:M>K ,>K?HKF : P>; L>:K<A ?HK FBG= F:IL ?HK GHM>
M:DBG@
%3D73E
0A> FHLM BFIHKM:GM :LI><M H? K>OB>PBG@ RHNK E><MNK> GHM>L BL PA>G RHNK K>OB>P M:D>L IE:<> BG
K>E:MBHG MH PA>G RHNK GHM>L P>K> M:D>G "HK F:QBFNF >b<B>G<R :G= K>M>GMBHG H? F>FHKR BMZL
;>LM MH K>OB>P PBMABG  FBGNM>L H? PA>G MA> E><MNK> >G=L "HK MABL K>:LHG % =H GHM :=OBL> LMN=>GML
MH M:D> ;:<DMH;:<D <E:LL>L PBMAHNM  FBGNM>L BG ;>MP>>G %M BL BFIHKM:GM MH A:O> :=>JN:M>
K>OB>P MBF> :G= MH @BO> RHNK ;K:BG : ;K>:D .>OB>PBG@ LAHKMER :?M>K MA> E><MNK> PBEE :EEHP RHN
MH ;>LM AB@AEB@AM HK NG=>KEBG> F:BG IHBGML :L P>EE :L `EE BG :GR FBLLBG@ IHKMBHGL H? RHNK GHM>L
/MN=>GML PAH M:D> E><MNK> GHM>L HG : )HG=:R :G= MA>G K>OB>P MA>F ?HK MA> `KLM MBF> : P>>D E:M>K
H?M>GA:O><A:EE>G@>LK><:EEBG@BG?HKF:MBHGMA:MA>EIF:D>MA>GHM>L<HA>K>GM
%? RHN PBLA MH @H [:;HO> :G= ;>RHG=\ RHN F:R <HGLB=>K =BL<NLLBG@ RHNK GHM>L BG : LMN=R @KHNI
PBMA RHNK <E:LLF:M>L PAB<A <:G @BO> RHN : =B_>K>GM I>KLI><MBO> HG F:BG IHBGML :G= =>>I>G RHNK
NG=>KLM:G=BG@ H? MA> F:M>KB:E 5HN F:R :ELH P:GM MH F:D> a:LA<:K=L ?HK RHNKL>E? PBMA OH<:;NE:KR
M>KFL?HKFNE:LBFIHKM:GM=:M>LI>HIE>IE:<>L>M<
'6375#71BC@3
'>>I BG FBG= MA:M LMN=>GML PAH DGHP PA:M MA>BK BGLMKN<MHK BL @HBG@ MH E><MNK> HG ;>?HK> MA>
E><MNK> :K> :M :G :=O:GM:@> 3AR ><:NL> MA> FHK> MA>R NG=>KLM:G= :;HNM PA:M MA> BGLMKN<MHK
PBEE ;> M:EDBG@ :;HNM MA> >:LB>K BM BL MH M:D> GHM>L $HP 0:D> : EHHD :M MA> LREE:;NL ;>?HK> MA>
E><MNK> %M PHGZM M:D> FN<A MBF> ;NM BM <:G F:D> : PHKE= H? =B_>K>G<> 5HN PBEE :ELH ;> FHK>
IK>I:K>= :G= ;> :;E> MH L>> BFIHKM:GM <HGG><MBHGL B? RHN K>:= RHNK :LLB@G>= K>:=BG@ ;>?HK> MA>
E><MNK> %MZL GHM >:LR MH =H ;NM LMN=>GML MA:M =H BM PBEE ;> K>P:K=>= %? % A:O> K>:= BG?HKF:MBHG
:LLB@G>= ;>?HK> MA> E><MNK> :G= DGHP PA:M MA> E><MNK> PBEE ;> :;HNM % A:O> ;>LM IK>I:K>= FRL>E?
?HK M:DBG@ GHM>L =NKBG@ MA> E><MNK> :G= @BO>G FRL>E? MA> @K>:M>LM IHM>GMB:E ?HK NG=>KLM:G=BG@
K>E:MBHGLABIL ;>MP>>G MA> K>:=BG@ F:M>KB:E :G= MA> E><MNK> +GEBG> a:LA <:K=L :K> :GHMA>K HIMBHG
/MN=>GML<:GF:D>MA>F?HK?K>>:G=M>LMMA>FL>EO>LHGEBG>HKHGMA>BKIAHG>
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
713<A3A/<2BB@70CB7=<A
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2
85DH5H=CBG<5B;98:CFA5HH=B;F9ACJ985@@7CDMF=;<H98=B:CFA5H=CBG@=;<H98=HG:CF7CBG=GH9B7M
<5DH9F-5?=B;'CH9G=B@5GG 
(<7B 3;=@G#@7<17>:3A/<2
'316<7?C3A
3/@<7<5"0831B7D3A
:H9FMCI<5J97CAD@9H98H<=GIB=HMCIG<CI@86956@9HC
V LD@5=B<CK957<D5FHC:H<9A9ACFMKCF?GG9BGCFMKCF?=B;5B8@CB;H9FA
V 9G7F=69G9J9F5@AB9ACB=7CFA9ACFMH97<B=EI9G
V =G7IGGA9ACFMF9;5F8=B;H<9C@89F@95FB9FK<5H7<5B;9G5B8K<5HGH5MGH<9G5A9
V 9G7F=69G<CFHH9FAA9ACFM
V 9G7F=69@CB;H9FAA9ACFM
V LD@5=B<CKHCHF5BG:9F=B:CFA5H=CB:FCAH<9G<CFHH9FAA9ACFMHCH<9@CB;H9FAA9ACFM
V =G7IGG9[97H=J9GHF5H9;=9G:CFA9ACF=N=B;=B:CFA5H=CB
V LD@5=BGHF5H9;=9G:CF<CKHC7CB79BHF5H9
V 9G7F=69<CKH<9D@579MCI7<CCG9HCGHI8M9[97HG9Z7=9B7M
V 9G7F=69<CKH<9H=A9MCI7<CCG9HCGHI8M9[97HG9Z7=9B7M
V =G7IGG=BH9FB5@5B89LH9FB5@8=GHF57H=CBG
V LD@5=B<CKHCF97C;B=N95B8A=B=A=N98=GHF57H=CBG
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BHDF9J=CIG@MG<5F98
"CKHC%95FB%=?95)FCIH<CF986M)<M@@=G'=GG=@52
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2

<5DH9F&9ACFM
=A&A(!$%)'(3(/4123/#(/0$/6.!31%%A<$20%.$2)7(/4122(!10%.).'-8!7>
P6F5<5A%=B7C@B
<P<4=@;/B7=<#@=13AA7<5 =23:
+G<> BG?HKF:MBHG A:L ;>>G >G<H=>= P> A:O> MH K>M:BG BM +NK ;K:BGL M:D> MA> >G<H=>=
BG?HKF:MBHG:G=IE:<>BMBGLMHK:@>/MHK:@>BLMA><K>:MBHGH?:I>KF:G>GMK><HK=H?BG?HKF:MBHG
%G HK=>K ?HK : F>FHKR MH @H BGMH LMHK:@> B> EHG@M>KF F>FHKR BM A:L MH I:LL MAKHN@A
MAK>> =BLMBG<M LM:@>L />GLHKR )>FHKR /AHKM0>KF )>FHKR :G= `G:EER (HG@0>KF )>FHKR
0A>L> LM:@>L P>K> `KLM IKHIHL>= ;R .B<A:K= MDBGLHG :G= .B<A:K= /AB_KBG  0A>BK FH=>E H?
ANF:G F>FHKR BL ;:L>= HG MA> ;>EB>? MA:M P> IKH<>LL F>FHKB>L BG MA> L:F> P:R MA:M : <HFINM>K
IKH<>LL>LBG?HKF:MBHG
D<427;87#12F:2768-.58/6.68:AE +A 9.7#<*@ 2;52,.7;.-=7-.: (
3/@<7<5%3;3;03@7<5/<2%3B@73D7<5P<4=@;/B7=<PAP;>=@B/<B4=@
1/23;71&C113AA
0A> `KLM MABG@ HNK ;K:BGL =H BL MH M:D> BG BG?HKF:MBHG ?KHF HNK L>GL>L PA:M P> L>> A>:K M:LM>
MHN<A :G= LF>EE %G F:GR <E:LLKHHF :G= AHF>PHKD L>MMBG@L P> IKBF:KBER NL> A>:KBG@ ?HK E><MNK>L
:G= L>>BG@ ?HK K>:=BG@ M>QM;HHDL %G?HKF:MBHG P> I>K<>BO> ?KHF HNK L>GL>L BL LMHK>= BG PA:M P>
<:EEMA>LAHKMM>KFF>FHKR
%M BL NL>?NE MH MA>G ;> :;E> MH =H FNEMBIE> MABG@L PBMA BG?HKF:MBHG BG MA> LAHKMM>KF F>FHKR
3> P:GM MH  =><B=> B? MA:M BG?HKF:MBHG BL BFIHKM:GM  ?HK MA> BG?HKF:MBHG MA:M BL BFIHKM:GM ;>
:;E> MH L:O> MA> BG?HKF:MBHG BG HNK ;K:BG HG : EHG@>KM>KF ;:LBLXMABL LMHK:@> BL <:EE>= MA> EHG@
M>KF F>FHKR  K>MKB>O> MA:M BG?HKF:MBHG PA>G P> G>>= MH !Q:FL H?M>G F>:LNK> AHP >_><MBO>ER
MA>LMN=>GM<:GK>MKB>O>[BFIHKM:GMBG?HKF:MBHG\
%G LHF> <E:LL>L :G= PBMA LHF> M>QM;HHDL BM BL >:LR MH =>M>KFBG> BG?HKF:MBHG BFIHKM:GM MH
F>FHKBS> %G HMA>K <HNKL>L PBMA HMA>K M>QM;HHDL MA:M IKH<>LL F:R ;> FHK> =Bb<NEM 5HNK
BGLMKN<MHK <:G ;> : O:EN:;E> K>LHNK<> MH :LLBLM PBMA =>M>KFBGBG@ MA> BG?HKF:MBHG MA:M G>>=L MH ;>
F>FHKBS>= +G<> MA> BFIHKM:GM BG?HKF:MBHG BL B=>GMB`>= BM BL A>EI?NE MH HK@:GBS> BM BG : P:R MA:M
PBEEA>EIRHN;>LMNG=>KLM:G=
CB6=@JA&B=@G
\ 8C BCH <5J9 5 ;F95H A9ACFM \ KF=H9 5 @CH C: H<=B;G 8CKB HC <9@D A9 F9A9A69F B8 \ <5J9 5@K5MG <58 HC
KCF?<5F8HCA9ACF=N95B8GHI8M:CF9L5AG
<5DH9F&9ACFM 
\B AM <=;< G7<CC@ 5B8 7C@@9;9 M95FG \ GD9BH 5 @CH C: H=A9 7F5AA=B; H<9 B=;<H 69:CF9 H<9 9L5A \B
F9HFCGD97H \ 69@=9J9 H<=G K5G D5FH@M 8I9 HC DFC7F5GH=B5H=CB D5FH@M 8I9 HC @57? C: =BH9F9GH =B H<9 A5H9F=5@
5B8 D5FH@MQGI67CBG7=CIG@MQK5BH=B; HC D9F:CFA K9@@ CB H<9 9L5A K=H<CIH DIHH=B; 5 @CH C: H=A9 =BHC
DF9D5F5H=CB 5B 5HH9ADH HC ;9H H<9 A5L=AIA C: H<9 A=B=AIA F5AA=B; 5@@CK98 A9 HC GHCF9 5 @CH C:
=B:CFA5H=CB =B AM G<CFHH9FA A9ACFM \ KCI@8 F9;IF;=H5H9 =B:CFA5H=CB CB H<9 9L5A 5B8 H<9B :CF;9H B95F@M
5@@C:=HG<CFH@MH<9F95:H9F\H=GBCH<CK@95FB=B;5B898I75H=CBK9F9=BH9B898
&M D9F:CFA5B79 CB H<9 9L5AG K9F9 G5H=G:57HCFM 6IH \ 7CI@8SJ9 8CB9 AI7< 69HH9F <58 \ 589EI5H9@M
DF9D5F98 5B8 699B 8=G7=D@=B98 9BCI;< HC F9J=9K ACF9 :F9EI9BH@M C=B; GC KCI@8 <5J9 5@@CK98 AI7<
C: H<5H =B:CFA5H=CB HC 9BH9F AM @CB;H9FA A9ACFM K<=7< KCI@8 <5J9 <58 A5BM 69B9XHG ,HI89BHG C:H9B
69@=9J9 H<9 =B:CFA5H=CB H<9M 5F9 @95FB=B; =B 7@5GG9G H<5H 5F9 F9EI=F98 :CF ;9B9F5@ 98I75H=CB <5J9 @=HH@9 HC
8C K=H< K<5H =G B99898 :CF H<9A =B H<9=F :IHIF9 75F99F "CK9J9F G?=@@G @=?9 7F=H=75@ H<=B?=B; 7CAAIB=75H=CB
6CH< CF5@ 5B8 KF=HH9B 5B8 @=H9F57M 5F9 C:H9B 89J9@CD98 :FCA H<9G9 7CIFG9G 5B8 5F9 9LHF9A9@M 69B9X7=5@
:CF H<9 GHI89BH ,CA9H=A9G H<9G9 G?=@@G 5F9 57EI=F98 K=H<CIH H<9 GHI89BH F95@=N=B; =H -<=G A5?9G :CF 5 69HH9F
GHI89BH69HH9FD9FGCB5B869HH9FA9A69FC:GC7=9HM
\B 588=H=CB \ KCI@8 @CJ9 HC 69 56@9 HC F975@@ =B:CFA5H=CB :FCA GCA9 7@5GG9G \ HCC? =B <=;< G7<CC@ 5B8 7C@@9;9
6IH 75BBCH 6975IG9 H<9 =B:CFA5H=CB B9J9F 9BH9F98 AM @CB;H9FA A9ACFM \ 8=8 GCA9 C: =H H<9 KFCB; K5M
5B8 <CD9 H<5H MCI 8C BCH A5?9 H<9 G5A9 A=GH5?9 ,HI89BHG K<C H5?9 =B =B:CFA5H=CB 6M ;F58I5@@M F9J=9K=B;
5B8 A9ACF=N=B; CJ9F 5 @CB;9F D9F=C8 C: H=A9 5B8 75B GHCF9 ACF9 =B:CFA5H=CB =B H<9=F @CB;H9FA A9ACFM
K=@@6956@9HC5779GG=H@CB;5:H9FH<97CIFG9H<9M5F9H5?=B;=GCJ9F
=D7<5P<4=@;/B7=<4@=;B63&6=@BB3@; 3;=@G'=B63=<5B3@; 3;=@G
0ABL BL LHF>MABG@ MA:M M:D>L : EHM H? MBF> MA>K> BL GH LAHKM<NM ?HK BM /MN=>GML PAH LDBI INMMBG@ BG
MA>MBF>:G=PHKDH?M>G>G=NI<K:FFBG@:MMA>>G=
,K>OB>P MA> BG?HKF:MBHG RHN :K> MKRBG@ MH F>FHKBS> 0A> FHK> ?:FBEB:K RHN :K> PBMA PA:M RHN
:K> E>:KGBG@ MA> ;>MM>K K>:M> :<KHGRFL EBD> /1 ?HK F>FHKBSBG@ [L>E?<HGM:BG>= NG=>KP:M>K
;K>:MABG@ :II:K:MNL\ +K@:GBSBG@ BG?HKF:MBHG BG MABL P:R <:G ;> A>EI?NE ;><:NL> BM BL GHM :L
=Bb<NEM MH F>FHKBS> MA> :<KHGRF :G= PBMA IK:<MB<> :G= K>I>MBMBHG MA> :<KHGRF <:G MKB@@>K MA>
;K:BGMHK><:EEMA>>GMBK>IB><>H?BG?HKF:MBHG
"E:LA <:K=L :K> : O:EN:;E> MHHE ?HK F>FHKBS:MBHG ;><:NL> MA>R :EEHP LMN=>GML MH ;> :;E> MH M>LM
MA>FL>EO>L 0A>R :K> <HGO>GB>GM MH ;KBG@ PBMA RHN :GRPA>K> :G= <:G ;> NL>= >_><MBO>ER PA>MA>K
:LMN=>GMA:LHG>FBGNM>HK:GAHNK
+G<> BG?HKF:MBHG BL F>FHKBS>= K>@:K=E>LL H? PA>G MA> >Q:F BL MA> E:LM LM>I BL MH :IIER MA>
BG?HKF:MBHG LD RHNKL>E? %G PA:M K>:E PHKE= L<>G:KBHL <HNE= RHN :IIER MABL BG?HKF:MBHG G= ?HK
F:LM>KRMKRMHM>:<AMA>BG?HKF:MBHGMHLHF>HG>>EL>
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BHDF9J=CIG@MG<5F98
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
"CKHC%95FB%=?95)FCIH<CF986M)<M@@=G'=GG=@52
85DH=CBG<5B;98:CFA5HH=B;F9ACJ98=A5;9F9ACJ98DF9H9GH@=B?F9ACJ989L9F7=G9G
T"CKA9ACFM:IB7H=CBGU 6M (D9B,H5L =G@=79BG98IB89F 2
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2
<5DH9F&9ACFM 
<5DH9FCB79BHF5H=CB5B8=GHF57H=CB
7CB79BHF5H=CBB9L7@IG=J95HH9BH=CBHCCB9C6>97H
P8=7H=CB5FM7CA
*63@3'=&BC2G
%G HK=>K MH LMN=R LN<<>LL?NEER LMN=>GML FNLM E>:KG MH <HG<>GMK:M> :M : AB@A E>O>E %M BL BFIHKM:GM
MH DGHP PA>K> P> LMN=R ;>LM /HF> LMN=>GML LMN=R P>EE :M AHF> +MA>K LMN=>GML LMN=R P>EE :M :
EB;K:KR HK <H_>> LAHI 0A>K> BL GH ;>LM ?HK :EE 5HNK ;>LM >GOBKHGF>GM BL ;:L>= HG RHN :G= RHNK
IK>?>K>G<>L
3:M<AMABLL>E><MBO>:MM>GMBHGM>LMOB=>H:G=L>>B?RHN<HF>NIPBMAMA><HKK><M:GLP>K
)723= Selective Attention Test,Selective Attention Test, /<73:&7;;=<A
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
*63<'=&BC2G
%M BL :ELH BFIHKM:GM MH DGHP PA>G P> LMN=R ;>LM ):GR LMN=>GML :K> FHLM >b<B>GM LMN=RBG@ BG MA>
FHKGBG@ PA>G MA>R :K> ?K>LA /MN=RBG@ E:M> BG MA> =:R F:R ;> MA> HGER HIMBHG ?HK LHF> LMN=>GML
;NM H?M>G P> :K> MBK>= :M MA> >G= H? MA> =:R :G= MABL <:G A:O> : F:CHK >_><M HG LMN=R >b<B>G<R
"B@NKBG@ HNM PA>K> :G= PA>G P> LMN=R ;>LM F:R M:D> LHF> MBF> G= >O>G PA>G P> `G= MA>
;>LM IE:<> :G= MBF> MH LMN=R P> :ELH A:O> MH ;> :P:K> H? =BLMK:<MBHGL PAB<A <:G ;> BGM>KG:E HK
>QM>KG:E
P<B3@</:7AB@/1B7=<A
G BGM>KG:E =BLMK:<MBHG BG<EN=>L MAHN@AM IKH<>LL>L L>E?>LM>>F HK <HG`=>G<> %MZL LHF>MABG@ MA:M
BGM>KKNIML RHN ?KHF PA:M RHNZK> =HBG@ %M FB@AM :ELH ;> : <HFINM>K HK <>EE IAHG> W LHF>MABG@
MA:M BL <HGMKHEE>= ;R RHN ):GR LMN=>GML BGM>G= MH LMN=R ;NM >:LBER @>M =BLMK:<M>= PBMA LNK`G@ MA>
%GM>KG>M <A><DBG@ LH<B:E F>=B: P:M<ABG@ 5HN0N;> OB=>HL HK K><>BOBG@ : M>QM F>LL:@> %? RHN
=HGZM :;LHENM>ER G>>= RHNK <HFINM>K HK <>EE IAHG> ?HK RHNK LMN=R BM BL FR LN@@>LMBHG MH GHM ;KBG@
MA>F HK MNKG MA>F H_ %? RHN =H LMN=R PBMA RHNK IAHG> HK <HFINM>K BM BL ;>LM MH A:O> :EE IHM>GMB:E
<5DH9FCB79BHF5H=CB5B8=GHF57H=CB 
:E>KML MNKG>= H_ *HMB`<:MBHGL H? M>QM F>LL:@>L >F:BEL HK LH<B:E F>=B: NI=:M>L :EE <:G L>KO> :L :
F:CHK=BLMK:<MBHGMHRHNKLMN=RBG@
FB3@</:7AB@/1B7=<A
!QM>KG:E =BLMK:<MBHGL FB@AM ;> RHNK KHHFF:M>L ?:FBER HK ?KB>G=L !O>G B? MA>R :K> LNIIHKMBO>
H? RHNK LMN=R BM F:R ;> <A:EE>G@BG@ MH <HG<>GMK:M> PA>G MA>R :K> :KHNG= /:RBG@ [GH\ BL :G
BFIHKM:GM LDBEE MA:M F:R G>>= MH ;> NMBEBS>= BG HK=>K ?HK RHN MH A:O> RHNK LMN=R MBF> PBMAHNM
BGM>KKNIMBHG
'>>I BG FBG= MA:M BM F:R M:D>  FBGNM>L MH K>:<A : AB@A E>O>E H? <HG<>GMK:MBHG 3A>G P> :K>
BGM>KKNIM>= BM M:D>L HG :O>K:@> :GHMA>K  FBGNM>L MH @>M ;:<D MH MA> E>O>E H? <HG<>GMK:MBHG MA:M
P> P>K> :M IKBHK MH MA> =BLKNIMBHG
<
%? : LMN=>GM BL LMN=RBG@ ?HK :G AHNK :G= BL BGM>KKNIM>= MPB<>
MA><HGL>JN>G<>MHLMN=R>b<B>G<RBL=>O:LM:MBG@
+G> P:R MH MKR MH FHGBMHK AHP F:GR BGM>KKNIMBHGL RHN BG<NK :G= AHP P>EE RHN F:BGM:BG RHNK
E>O>E H? <HG<>GMK:MBHG BL MH D>>I MK:<D H? BM 0:D> : ;E:GD IB><> H? I:I>K PA>G RHN :K> LMN=RBG@
:G=F:KD=HPG>:<AMBF>RHNP>K>BGM>KKNIM>=
+O>K MBF> PBMA IK:<MB<> RHN LAHNE= ;> :;E> MH =><K>:L> MA> GNF;>K H? BGM>KKNIMBHGL RHN BG<NK
0ABLPBEE:EEHPRHNMH;>FHLM>b<B>GMPA>GLMN=RBG@
% :EP:RL `G= BM H== MH MABGD MA:M ;>?HK> FH;BE> IAHG>L P> BGO>GM>= MA> :GLP>KBG@ F:<ABG> %ML
INKIHL> P:L MH :EEHP NL MH K><>BO> : F>LL:@> PA>G LHF>HG> <:EE>= B? P> P>K> GHM AHF> HK BM P:L
GHM <HGO>GB>GM MH :GLP>K MA> IAHG> :M MA> MBF> %G <HGMK:LM M>QM F>LL:@BG@ BL =>LB@G>= BG FHLM
<:L>L NL>KZL GHMB`<:MBHG IK>?>K>G<>L MH BGM>KKNIM NL :G= :E>KM NL BFF>=B:M>ER MA:M LHF>HG> A:L
<HGM:<M>= NL 3A:M>O>K RHNK HIBGBHG F:R ;> HG MABL FR IHBGM BL MH MK>:= <:NMBHNLER PA>G NLBG@
M><AGHEH@R MA:M F:R ;> :==B<MBG@ :G= F:R ?K>JN>GMER <HGL<BHNLER HK NG<HGL<BHNLER =BLMK:<M RHN
?KHFLMN=RBG@:G=<HG<>GMK:MBG@
CB6=@JA&B=@G
0<9B \ K5G 5 XFGHM95F GHI89BH =B 7C@@9;9 \ @=J98 =B H<9 8CFA=HCF=9G 5B8 9B>CM98 GC7=5@=N=B; K=H< AM :F=9B8G
\ 8=8BSH K5BH HC A=GG CIH CB 5BM GC7=5@ =BH9F57H=CB CDDCFHIB=H=9G GC \ K5=H98 HC GHI8M 5:H9F 9J9FMCB9 9@G9
K5G 5G@99D \ F9;I@5F@M GHI8=98 :FCA A=8B=;<H HC HKC CF H<F99 =B H<9 ACFB=B; \ KCI@8 BCH CF8=B5F=@M GI;;9GH
H<=G :CF ACGH GHI89BHG \H KCF?98 :CF A9 6975IG9 \ 8=8 BCH <5J9 5BM 95F@M ACFB=B; 7@5GG9G CF KCF? \ HCC?
AM 7@5GG9G =B H<9 @5H9 ACFB=B; 5B8 5:H9FBCCB KCF?98 =B H<9 5:H9FBCCB 5B8 5HH9B898 65G?9H65@@ DF57H=79G
=B H<9 5:H9FBCCB CF 95F@M 9J9B=B; \ K5G 56@9 HC GH5M 5K5?9 5B8 7CB79BHF5H9 K9@@ 5H H<5H 5;9 5B8 5@GC 69
56@9 HC ;9H 589EI5H9 G@99D "CK9J9F =: \ K5G GHI8M=B; :CF 5B 9L5A CF 8C=B; H<9 <95JM KCF? CB 5 D5D9F \
KCI@8 8C =H =B H<9 ACFB=B; 6975IG9 H<5H K5G K<9B \ 7CB79BHF5H98 H<9 69GH 'CK 5@ACGH HKC 897589G 5:H9F
7C@@9;9 5G GCA9CB9 K<C KCF?G :I@@ H=A9 5B8 H5?9G 75F9 C: HKC MCIB; 7<=@8F9B H<9F9 =G BC K5M \ 7CI@8 GH5M
ID H<5H @5H9 5B8 69 DFC8I7H=J9 CB 5 F9;I@5F 65G=G \HSG =ADCFH5BH HC XB8 CIH K<5H KCF?G 69GH :CF MCI 5B8 =HSG
5@GC=ADCFH5BHHCIB89FGH5B8<CKH<99BJ=FCBA9BHMCI5F9=B9[97HGMCIF7CB79BHF5H=CB56=@=HM
<3 !6%S6&S%S6.S S39-$/4!,
,384LL3S3S3L5RLS;DGR3J=;;DK3
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
C:B7B/A97<5
)BEE>GGB:EL :K> <HGLB=>K>= >QMK:HK=BG:KR FNEMBM:LD>KL MAHN@A ;K:BG L<B>G<> M>EEL NL MA:M
FNEMBM:LDBG@ BL : FRMA
=
)HK> EBD>ER MA>R :K> :IM MH LPBM<A M:LDL JNB<DER >GHN@A MH :II>:K MH ;>
=HBG@ MA>F LBFNEM:G>HNLER 3A>G BM <HF>L MH A>:OR F>=B: FNEMBM:LDBG@ LMN=B>L LAHP @K>:M>K
ONEG>K:;BEBMRMHBGM>K?>K>G<>E>:=BG@MH=><K>:L>=I>K?HKF:G<>
>
)R <E:LL>L A:O> A:= EBO>ER =BL<NLLBHGL HG FNEMBM:LDBG@ )HLM H? MA> MBF> % :F :;E> MH <HGOBG<>
LMN=>GML MA:M FNEMBM:LDBG@ BL GHM : @HH= B=>: ?HK MA>F 0A>K> :K> :EP:RL : ?>P LMN;;HKG AHE=
HNML 0KRBG@ MH =H FNEMBIE> MABG@L :M MA> L:F> MBF> F:R L>>F EBD> BM F:R :EEHP RHN MH :<<HFIEBLA
FHK> ;NM PA>G LMN=RBG@ BM H?M>G E>:=L MH :<<HFIEBLABG@ E>LL 0A>K> :K> MABG@L MA:M % MABGD <:G ;>
LN<<>LL?NEER FNEMBM:LD>= % <HNE= MAKHP <EHMA>L BG MA> P:LA>K :G= F:D> : LG:<D MA>G >:M :G= K>:= :
;HHD :M MA> L:F> MBF> PABE> P:BMBG@ ?HK MA> <EHMA>L MH ;> P:LA>= NM B? % MKR MH M>QM <A><D >F:BE
P:M<A02:G=EHHD:MFR0PBMM>KMBF>EBG>:EEPABE>LMN=RBG@BMPHGZMPHKDP>EE
LMN=R ?KHF :KG>@B> )>EEHG 1GBO>KLBMR ?HNG= MA:M =KBOBG@ PABE> EBLM>GBG@ MH : <>EE IAHG>
K>=N<>L MA> :FHNGM H? ;K:BG :<MBOBMR :LLH<B:M>= PBMA =KBOBG@ ;R  I>K<>GM
?
3AR PHNE= :GRHG>
<AHHL>MHNL>E>LL;K:BG:<MBOBMRPA>GMA>RLMN=R
713<A3A/<2BB@70CB7=<A
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2
@@F=;<HGF9G9FJ987CBH9BH
,9@97H=J9 HH9BH=CB -9GH IH<CF98 6M 5B=9@ ,=AACB %C75H98 5H <HHDGKKKMCIHI697CA
K5H7<JJ#!.&JC%=79BG9@@+=;<HG+9G9FJ98%=79BG9-9FAG,H5B85F82CI-I69@=79BG9
=3 -6SR3:-4!!SS3:*-34LL3G
3RLLGGSRL=;<<;>LGRGRSSJ=;<<K3
>3 #S66$SM)"&3/6:$SSSRSRS3:*G
S)S"R,S.S,"RS34LL33L
L<;AL>CL<@@D>3J=;;BK3
?3 ,S6'6-SR $6:$S!,,SS
-$*,SSNRS&S3:J*S6*"4$S!6=;;DK
<5DH9FCB79BHF5H=CB5B8=GHF57H=CB 
(<7B'3AB'/97<5&B@/B3573A
Unit 6: Test-Taking Strategies
3/@<7<5"0831B7D3A
:H9FMCI<5J97CAD@9H98H<=GIB=HMCIG<CI@86956@9HC
V 9G7F=69GHF5H9;=9GHC<9@DMCI69:CF9MCIH5?9H9GHG
V 9G7F=69GHF5H9;=9GHC<9@DMCI8IF=B;H<9H9GH
V 9G7F=69GHF5H9;=9GHC<9@DMCI5:H9FH<9H9GH
V LD@5=BH<965G=7H9GH=H9AGC6>97H=J9G<CFH5BGK9F9GG5M
V =G7IGG 7CAACB T98I75H98 ;I9GG=B;G9@97H=B;U GHF5H9;=9G =B H<9 9J9BH MCI >IGH 75BBCH
F9A9A69F H<9 5BGK9F HC 5 ;=J9B H9GH =H9A 89GD=H9 5@@ C: MCIF ;CC8 9[CFHG 5H CF;5B=N=B; MCIF
H=A9A5H9F=5@G5B8GHI8M6@C7?G
V LD@5=BH<9=ADCFH5B79C:DFCD9FDF9D5F5H=CB:CFH9GHG
V =G7IGGH<9=ADCFH5B79C:<5J=B;H<98=G7=D@=B9HCDF9D5F9
V LD@5=B<CKHC;=J9MCIFG9@:H<969GHCDDCFHIB=HMHC9L97IH9K9@@CB5H9GH
V 9G7F=69 K<M GHI8M=B; 5B8 DF9D5F=B; CJ9F 5 @CB;9F D9F=C8 C: H=A9 =G AI7< ACF9 69B9X7=5@
5B8<95@H<=9FH<5B7F5AA=B;:CF5H9GH
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BHDF9J=CIG@MG<5F98
"CKHC%95FB%=?95)FCIH<CF986M)<M@@=G'=GG=@52
<5DH9F)F9&=85B8)CGH-9GH-5?=B;
,HF5H9;=9G
#@3'3AB&B@/B3573A
D7@2.<AE +A )%$$ 2;52,.7;.-
=7-.: (
-3A>GLAHNE=RHNLM:KMIK>I:KBG@?HKMA>`KLMM>LMBK<E>^
 0A>GB@AM;>?HK>
 0A>P>>DIKBHK
 0A>`KLM=:RH?<E:LL>L
%? RHN :GLP>K>= [ 0A> `KLM =:R H? <E:LL>L\ RHN :K> <HKK><M %? RHN <BK<E>= :EE MAK>> RHN :K> :ELH
<HKK><M ,K>I:KBG@ MH I:LL M>LML BL LHF>MABG@ MA:M ;>@BGL PA>G E>:KGBG@ ;>@BGL :G= <HGMBGN>L :EE
MA>P:RMAKHN@AMHMA>`G:E>Q:F
):GR LMN=>GML AHP>O>K =HGZM LM:KM MABGDBG@ :;HNM M>LM M:DBG@ PA>MA>K P>>DER >Q:FL FB=
M>KFL HK `G:EL NGMBE MA> =:R ;>?HK> PA>G MA>R >G@:@> BG :G :EEGB@AM>K HK <K:FFBG@ "KHF MA>
IK>OBHNL NGBM HG F>FHKR RHN FB@AM K><:EE MA:M MA> ;K:BG <:G HGER IKH<>LL :G :O>K:@> H?  G>P
IB><>L H? BG?HKF:MBHG :M : MBF> ==BMBHG:EER NGE>LL F>FHKR =>OB<>L :K> NL>= MH :B= F>FHKR :G=
MH <>F>GM BG?HKF:MBHG BGMH EHG@ M>KF F>FHKR HK :M E>:LM NGMBE MA> M>LM BL HO>K MHFHKKHP <A:G<>L
:K>LEBFMA:MLMN=>GMLPAH<K:FPBEE>_><MBO>ERE>:KG:G=K>F>F;>KMA>BG?HKF:MBHG
==BMBHG:EER : EHM H? LMN=>GML :K> NG:P:K> H? MA> F:GR LMK:M>@B>L :O:BE:;E> MH A>EI PBMA MA> M>LM
M:DBG@>QI>KB>G<>;>?HK>=NKBG@:G=:?M>K"HKLM:KM>KLM:D>:EHHD:MPA:MA:LA>EI>=RHNLH?:K
+%P&
)F9-9GH-5?=B;,HF5H9;=9G
)+-
)IH57<97?A5F?B9LHHCH<9DF9H9GHGHF5H9;=9GMCI5@F958M9AD@CM
4444(F;5B=N9MCIFBCH96CC?5B8CH<9F7@5GGA5H9F=5@GH<9XFGHK99?C:7@5GG9G
4444&5=BH5=BMCIFCF;5B=N98A5H9F=5@GH<FCI;<CIHH<9H9FA
4444-5?9BCH9GCB?9MDC=BHG:FCA@97HIF9G5B8CH<9FA5H9F=5@G
4444&5?9GIF9MCIIB89FGH5B8H<9=B:CFA5H=CB5GMCI;C5@CB;
4444779GGMCIF=BGHFI7HCFSG<9@D5B8H<9<9@DC:5GHI8M;FCID5GB99898
4444(F;5B=N95GHI8M;FCID=:89G=F98
4444F95H9GHI8MHCC@GGI7<5GY5G<75F8G;F5D<=7CF;5B=N9FG9H75GGHI8M5=8G
4444CAD@9H95@@<CA9KCF?5GG=;BA9BHGCBH=A9
4444+9J=9K@=?9@MH9GH=H9AGG9J9F5@H=A9G69:CF9<5B8
4444G?MCIF=BGHFI7HCFK<5H=H9AG5F9@=?9@MHC697CJ9F98CBH<9H9GH
4444G?MCIF=BGHFI7HCF=:G<9CF<975BDFCJ=895GHI8M;I=89CFDF57H=79H9GH
4444G?MCIF=BGHFI7HCF=:<9G<9;=J9GD5FH=5@7F98=H:CFH9GH=H9AGGI7<5G9GG5MG
4444&5=BH5=B5B57H=J9@95FB9F5HH=HI89
4444,7<98I@99LHF5GHI8MH=A9=BH<985MG>IGHDF=CFHCH<9H9GH
4444!5H<9F5@@BCH9G<5B8CIHG5B8CH<9FA5H9F=5@GB9989869:CF9GHI8M=B;
4444+9J=9K5@@BCH9G<5B8CIHG5B8CH<9FA5H9F=5@G
4444(F;5B=N9MCIFGHI8M5F95:CFA5L=AIA7CB79BHF5H=CB5B89Z7=9B7M
4444F95H95B8IG9AB9ACB=789J=79GHC5=8A9ACFM
4444)IH?9MH9FAG:CFAI@5G9H7CB5G=B;@9GHI8MG<99HH<5H75B69EI=7?@MF9J=9K98
4444,7<98I@9GHI8MH=A9GG<CFH9BCI;<<CIFGGCMCI8CBCH;9H6IFB98CIH
4444!9HD@9BHMC:G@99DH<9B=;<H69:CF9
4444,9H5657?ID5@5FA=B75G9H<9XFGH5@5FA8C9GBSHGCIB8CFMCIG@99DH<FCI;<=H
4444"5J95;CC86F95?:5GHK=H<7CAD@9L75F6G5B8DFCH9=BHCG99MCIH<FCI;<
4444,<CKIDA=BIH9G95F@MHC;9H7CAD@9H9@MG9HH@9869:CF9H<9H9GH69;=BG
4444.G9H<9F9GHFCCA69:CF9<5B8HCA=B=A=N98=GHF57H=CBG
)+-
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
M F9J=9K=B; H<9 DF9H9GH GHF5H9;=9G 56CJ9 MCI <5J9 @=?9@M 8=G7CJ9F98 B9K =895G HC 588 HC K<5H MCI
5@F958MIG9&5?95@=GHC:H<9A
72'3AB&B@/B3573A
$>K>BL:EBLMH?MA>FHLM<HFFHGW:G=NL>?NEWLMK:M>@B>LMHLNKOBO>MABLN;BJNBMHNL<HEE>@>
>QI>KB>G<>
] /<:GMA>M>LM`KLMMH@>MMA>;B@IB<MNK>H?AHPF:GRM>LMBM>FLMA>K>:K>PA:MMRI>LMA>K>:K>
FNEMBIE><AHB<>F:M<ABG@>LL:R>M<:G=MA>IHBGMO:EN>LH?>:<ABM>FHK@KHNIH?BM>FL
] >M>KFBG>PAB<AP:RRHNP:GMMH:IIKH:<AMA>M>LM/HF>LMN=>GMLLM:KMPBMAMA>>:LR
JN>LMBHGL`KLMMA:MBLMA>HG>LMA>RBFF>=B:M>ERDGHPMA>:GLP>KLMHL:OBG@MA>=Bb<NEMHG>L
?HKE:M>KDGHPBG@MA>R<:GLI>G=MA>K>F:BGBG@MBF>HGMA>F/HF>LMN=>GML;>@BGPBMAMA>
;B@@>LMIHBGMBM>FL`KLMMHF:D>LNK>MA>R@>MMA>FHLMIHBGML
] >M>KFBG>:L<A>=NE>MA:MM:D>LBGMH<HGLB=>K:MBHGAHPEHG@RHNA:O>MHM>LM:G=MA>MRI>LH?
JN>LMBHGLHGMA>M>LM!LL:RJN>LMBHGL?HK>Q:FIE>PBEEK>JNBK>FHK>MBF>MA:GFNEMBIE>
<AHB<>HKF:M<ABG@JN>LMBHGL
] '>>IRHNK>R>HGMA><EH<D
] %?RHN<:GF:KDHGMA>M>LMINM:<A><DF:KDG>QMMHBM>FLRHN:K>GHMLNK>H?CNLMR>M%MBL
>:LRMH@H;:<D:G=`G=MA>FMH:GLP>KE:M>KHG5HNFB@AMCNLM`G=A>EIBGHMA>KM>LM
JN>LMBHGL<HO>KBG@LBFBE:KBG?HKF:MBHG
] /BMPA>K>RHN:K>FHLM<HF?HKM:;E>0A:ML:B=LBMMBG@G>:KMA>?KHGMA:L:<HNIE>H?
:=O:GM:@>L5HNF:R;>E>LL=BLMK:<M>=;RHMA>KLMN=>GML%?:<E:LLF:M><HF>LNIPBMA:
JN>LMBHG?HKMA>BGLMKN<MHK:G=MA>K>BL:GBFIHKM:GM<E:KB`<:MBHG@BO>GRHNPBEE;>;>MM>K:;E>
MHA>:KBM:G=:IIERBMB?G>>=>=
] 3>:K >:KIEN@LB?GHBL>=BLMK:<MLRHN
] 5HN=H*+0A:O>MHLM:KMPBMA%MRHN:K>NGLNK>H?BMF:KDBMMH<HF>;:<DMHE:M>KHG
] KBG@P:M>K^MABLA>EIL<:EFMA>G>KO>L?HKHG>:G=P:M>KBL:ELHG>>=>=?HKHIMBFNF;K:BG
?NG<MBHG
] %?I>KFBMM>=@>MNI:G=LMK>M<AHKLMK>M<ABGRHNK<A:BK?KHFMBF>MHMBF>MHK>EB>O>M>GLBHG
:G=:LLBLMMA>;EHH=MHMA>;K:BG
] .>F>F;>KMH>FIEHRLMK:M>@B>LMHK>=N<>M>LMM:DBG@:GQB>MR<HO>K>=BGMA>G>QME>LLHG
%? =>LIBM> :EE H? RHNK ;>LM >_HKML MH IK>I:K> ?HK : M>LM RHN CNLM <:GGHM K>F>F;>K MA> :GLP>K MH
<5DH9F)F9&=85B8)CGH-9GH-5?=B;,HF5H9;=9G 
: @BO>G BM>F ?HK FNEMBIE> <AHB<> F:M<ABG@ :G=HK MKN>?:EL> JN>LMBHGL >FIEHR HG> HK FHK> H?
MA> ?HEEHPBG@ >=N<:M>= @N>LLBG@ :ELH DGHPG :L [>=N<:M>= L>E><MBHG\ M><AGBJN>L R NLBG@ MA>L>
M><AGBJN>L RHN A:O> : $'66'4 <A:G<> H? L>E><MBG@ MA> <HKK><M :GLP>K %M BL NLN:EER ;>LM MH :OHB=
L>E><MBG@ :G >QMK>F> HK :EEBG<ENLBO> :GLP>K :ELH DGHPG :L  FH=B`>KL LN<A :L [:EP:RL\ :G=
[G>O>K\ AHHL> BGLM>:= PHK=L LN<A :L [NLN:EER\ [LHF>MBF>L\ >M< :ELH DGHPG :L BG;>MP>>G
FH=B`>KL %? MA> :GLP>KL :K> GNF;>KL <AHHL> HG> H? MA> FB==E> GNF;>KL %? RHN A:O> HIMBHGL
LN<A :L [:EE H? MA> :;HO>\ HK [;HMA :G= \ F:D> LNK> >:<A BM>F BL MKN> ;>?HK> L>E><MBG@ MAHL>
HIMBHGL AHHL> MA> EHG@>LM HK FHLM BG<ENLBO> :GLP>K ):D> LNK> MH F:M<A MA> @K:FF:K H?
JN>LMBHG :G= :GLP>K "HK >Q:FIE> B? MA> JN>LMBHG BG=B<:M>L : IENK:E :GLP>K EHHD ?HK MA> IENK:E
:GLP>K .>@:K=BG@ F:M<ABG@ M>LML <HNGM ;HMA LB=>L MH ;> F:M<A>= %? MA>K> :K> FHK> JN>LMBHGL
MA:G :GLP>KL :LD B? RHN <:G NL> :G :GLP>K FHK> MA:G HG<> ,:R <EHL> :MM>GMBHG MH BM>FL MA:M :LD
RHN MH <AHHL> MA> [;>LM\ :GLP>K 0ABL F>:GL HG> :GLP>K BL ;>MM>K HK FHK> BG<ENLBO> MA:G : LBFBE:K
:GLP>K.>:=:EEH?MA>K>LIHGL>HIMBHGL
#=AB'3AB&B@/B3573A
%G:==BMBHGMHLB@ABG@MA:M;B@LB@AH?K>EB>?A>K>:K>:?>PLN@@>LMBHGLMHA>EIPBMA?NMNK>M>LML
] %?RHN=HGZMNG=>KLM:G=PARRHN=B=GHM@>M:GBM>FKB@AM:LDMA>BGLMKN<MHK0ABLBL>LI><B:EER
NL>?NE?HKJNBSS>LMA:M<HGM:BGBG?HKF:MBHGMA:MF:R;>BG<HKIHK:M>=BGMHFHK>BG<ENLBO>>Q:FL
LN<A:LFB=M>KFL:G=`G:EL
] G:ERS>RHNKK>LNEMLMHA>EIRHNBGMA>?NMNK>"HK>Q:FIE>L>>B?FHLMH?RHNKBG<HKK><M
:GLP>KLP>K>LF:EEMABG@LLN<A:L?:BEBG@MHBG<EN=>MA>E:LMLM>IBG:F:MABM>FHKG>@E><MBG@
MH=HN;E><A><D?HKLBFIE>>KKHKLBG:LAHKM:GLP>KHK>LL:RBM>F/>>PA>K>BGMA>M>LMRHN
F:=>MA>FHLM>KKHKL;>@BGGBG@FB==E>HK>G=ELH:G:ERS>PAB<AMRI>H?JN>LMBHGLMKN>
?:EL>FNEMBIE><AHB<>>LL:R>M<G=PAB<AMHIB<LP>K>FBLL>=0ABLPBEEA>EIRHNI:R<EHL>K
:MM>GMBHGMHMAHL>L><MBHGLBGMA>?NMNK>
+%P&
0F=H95@9HH9FC:58J=79HC<9B=B7CFDCF5H=B;H9GHH5?=B;H=DG5B8GHF5H9;=9GMCIH<=B?K=@@<9@D
<=A
<9B69@=9J9G<9=G;CC85HCF;5B=N5H=CB5B8<9IGI5@@M=GP:CF56CIHH<9XFGHHKCK99?GC:7@5GG9G
"9H<9B697CA9GCJ9FK<9@A98K=H<5@@C:H<9<5B8CIHG5B8A5H9F=5@G5B8H9B8GHCGH5FHG@=DD=B;=B
H<9CF;5B=N5H=CB89D5FHA9BH0<9B=H7CA9GHCH9GHG<9KCFF=9GH<5H<=GBCH9GA=;<HBCH7CJ9F5@@
C:H<9F=;<HHCD=7G5B8H<5H<9K=@@BCH6956@9HCF9A9A69F5@@C:H<9?9MH9FAG5B8
DC=BHGP9GD97=5@@M:CF<=GA5H<7@5GGIF=B;H9GHG<9GCA9H=A9G;9HGGHI7?CB5B=H9A5B8H9B8GHC
GD9B8HCCAI7<H=A9H<9F9 "95@GCGCA9H=A9G7<5B;9G5BGK9FG6IHXB8GCIH@5H9FH<5H<=G
CF=;=B5@G9@97H=CBK5G7CFF97H<9B=G5@GC95G=@M8=GHF57H986MCH<9FGHI89BHG5B8BC=G9GK<=7<
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
A5?9G=H<5F8:CF<=AHC7CB79BHF5H9GCA9H=A9G5B8IB:CFHIB5H9@M<98C9G58A=HHCC775G=CB5@@M
T7F5AA=B;UH<9B=;<H69:CF9
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BHDF9J=CIG@MG<5F98
"CKHC%95FB%=?95)FCIH<CF986M)<M@@=G'=GG=@52
85DH=CBG<5B;98:CFA5HH=B;F9ACJ98CB99L9F7=G9
TBL=9HMU =A5;96M "&3.-- =G@=79BG98IB89F 2
<5DH9F)F9&=85B8)CGH-9GH-5?=B;,HF5H9;=9G 
<5DH9F-9GH-5?=B;,HF5H9;M,D97=X7G
=8&!),).'3/01%0!1%8/4!1%01%0!1).'3/&!),>
P9B>5A=B F5B?@=B
7A17>:7<3#@3>/@/B7=</<2F31CB7=<
"KHF PA:M % A:O> L>>G BG FR HPG >=N<:MBHG:E >QI>KB>G<>L :EHG@ PBMA <H:<ABG@ :G= M>:<ABG@ :M
MA> <HEE>@> :G= NGBO>KLBMR E>O>E ?HK HO>K  R>:KL M>LM M:DBG@ PBMA ?>P >Q<>IMBHGL <HF>L =HPG
MH =BL<BIEBG> IK>I:K:MBHG :G= >Q><NMBHG /MN=>GML P:GMBG@ MH ;> LN<<>LL?NE A:O> MH A:O> MA> L>E?
=BL<BIEBG> MH L<A>=NE> MBF> MH LMN=R P>EE BG :=O:G<> H? MA> >Q:F 0A>R A:O> MH :<MN:EER =H MA>
PHKD MA> IK>I:K:MBHG G>>=>= BG HK=>K MH A:O> MA> ;>LM HIIHKMNGBMR ?HK LN<<>LL HG MA> >Q:F 0A>G
MA>R FNLM >Q><NM> MA>R A:O> MH ;> :;E> MH :IIER MA>BK IK>I:K:MBHG :<<HK=BG@ER :G= I>K?HKF P>EE
HGMA>>Q:F
,K>I:K:MBHG ?HK :G >Q:F BL GHM @E:FHKHNL %MZL >:LR MH `G= HMA>K MABG@L MH =H MA:M :K> FHK>
BGM>K>LMBG@ :G= ?NG /MN=>GML G>>= MH D>>I MA>FL>EO>L FHMBO:M>= PBMA MA>BK [>R>L HG MA> IKBS>\
0ABGD H? BM EBD> MABL B? MA> FHLM BFIHKM:GM >O>GM H? RHNK EB?> P:L <HFBG@ NI :G= RHN P:GM>= MH
I>K?HKF MH MA> ;>LM H? RHNK :;BEBMR BG MA:M >O>GM RHN PHNE= EBD>ER LI>G= LHF> MBF> IK>I:KBG@ ?HK
BM K>A>:KLBG@ ?HK BM IK:<MB<BG@ BM >M< LMN=>GM F:R :K@N> MA:M :G >Q:F MA>R PBEE ;> M:DBG@ PHNE=
GHM ;> MA> FHLM BFIHKM:GM >O>GM H? MA>BK EB?> ;NM MABGD ;:<D MH MA> <A:IM>K HG ,:LLBHG %? RHNZK>
:EK>:=R LI>G=BG@ MA> MBF> >_HKM >G>K@R :G= FHG>R MH :MM>G= <HEE>@> PAR GHM =H BM MH MA> ;>LM
H?RHNK:;BEBMR
%M PHNE= ;> ;>G>`<B:E MH LIK>:= MABL IK>I:K:MBHG :G= IK:<MB<> HNM HO>K MBF> :G= IK>I:K>
I>KBH=B<:EER K:MA>K MA:G MH P:BM NGMBE MA> E:LM FBGNM> :G= ;BG@> LMN=R HK <K:F 5HNK IK>I:K:MBHG
PHNE= GHM ;> MA> L:F> :G= MABL F:R :_><M RHNK M>LM L<HK> BG@> LMN=RBG@ :G= <K:FFBG@ :ELH
:K> GHM A>:EMAR /M:RBG@ NI E:M> INML LMK>LL HG HNK ;K:BG :G= ;H=R :G= GHM @>MMBG@ :=>JN:M> LE>>I
IE:<>LHNK;H=B>L:MKBLD?HK@>MMBG@LB<D
=.%/&3(%-/23)-0/13!.3+%823/24##%22)2(!5).'3(%$)2#)0,).%3/$/6(!38/4+./68/42(/4,$$/
%5%.6(%.8/4$/.<3&%%,,)+%$/).')3>
P.B?BCKB
=(%6),,3/24##%%$)2)-0/13!.3"436(!3<2-/1%)-0/13!.3)23(%6),,3/01%0!1%>
PC66M$B=;<H
!O>KRHG> P:GML MH ;> LN<<>LL?NE 3A>G MA> >Q:F BL I:LL>= HNM >O>KRHG> P:GML MH I>K?HKF P>EE
NM PA:M H?M>G L>I:K:M>L LN<<>LL?NE LMN=>GML :G= E>LL LN<<>LL?NE LMN=>GML BL MA> IK>I:K:MBHG MBF> INM
BG
/MN=RBG@ MA> KB@AM MABG@ BL : IKH<>LL :G= : LDBEE L RHN @:BG FHK> >QI>KB>G<> RHN PBEE E>:KG
AHP MH ;><HF> ;>MM>K :M DGHPBG@ PA:M MH LMN=R %M <:G ;> O>KR ?KNLMK:MBG@ MH LI>G= : EHM H? MBF>
IK>I:KBG@ :G= LMN=RBG@ :G= MA>G `G=BG@ HNM MA:M PA:M RHN LMN=B>= P:L GHM HG MA> >Q:F 5HN
PBEE L>> : EHM H? O:KB:G<> PBMA >Q:FL =N> MH =B_>K>GM BGLMKN<MHKL <E:LL>L :G= MRI>L H? M>LML 0A>
;>MM>K RHN ;><HF> :M IK>=B<MBG@ PA:M PBEE ;> HG MA> >Q:F :G= LMN=R :<<HK=BG@ER MA> ;>MM>K RHN
PBEE I>K?HKF HG RHNK >Q:FL 0KR IE:<BG@ RHNKL>E? BG RHNK BGLMKN<MHKZL LAH>L :G= =>LB@G JN>LMBHGL
RHN MABGD RHNK BGLMKN<MHK PHNE= :LD %MZL H?M>G :G >R>HI>GBG@ >QI>KB>G<> ?HK LMN=>GML :G= : @K>:M
LMN=RLMK:M>@R
#@3>/@/B7=<4=@F/;&B@/B3573A
27-8=<*;6=,1*+8=<<1..@*627*->*7,.*;A8=,*7
/HF> IKH?>LLHKL PBEE M>EE RHN AHP F:GR JN>LMBHGL MA>K> PBEE ;> PA:M ?HKF:M MA> >Q:F PBEE ;>
BG AHP FN<A MBF> RHN PBEE A:O> >M< :G= HMA>KL PBEE GHM % >G<HNK:@> LMN=>GML MH :LD JN>LMBHGL
:;HNM MA> >Q:F B? MA>K> BL GHM BG?HKF:MBHG @BO>G % :ELH >G<HNK:@> LMN=>GML MH :LD MAHL> JN>LMBHGL
;>?HK><E:LL:?M>K<E:LLBGIKH?>LLHKLZHb<>AHNKLHKOB:>F:BEK:MA>KMA:G=NKBG@<E:LL
<=EB63B3AB
%? RHN DGHP AHP F:GR JN>LMBHGL PA:M MA> ?HKF:M BL :G=HK AHP FN<A MBF> RHN PBEE A:O>
RHN <:G LM:KM MH F>GM:EER IK>I:K> ?HK MA> >Q:F FN<A FHK> LH MA:G B? RHN :K> <HFBG@ BG PBMA GH
BG?HKF:MBHG 0A>K> :K> MPH FHK> BFIHKM:GM :LI><ML MA:M RHN F:R HK F:R GHM DGHP : PA:M PBEE
;> <HO>K>= HK :LD>= HG MA> >Q:F ; AHP MA> >Q:F PBEE ;> L<HK>= +;OBHNLER MA> FHK> RHN DGHP
<5DH9F-9GH-5?=B;,HF5H9;M,D97=X7G 
:;HNM PA:M PBEE ;> <HO>K>= MA> >:LB>K BM BL ?HK RHN MH ;> :;E> MH IK>I:K> ?HK MA> >Q:F )HLM >Q:F
L<HKBG@BLLM:G=:K=BS>=;NMGHM:EP:RL
(HHD ?HK HIIHKMNGBMB>L PA>K> LHF> :K>:L H? MA> >Q:F :K> PHKMA FHK> IHBGML MA:G HMA>KL "HK
>Q:FIE> G >Q:F <HGLBLML H?  JN>LMBHGL PBMA  ;>BG@ 0KN>":EL>  ;>BG@ FNEMBIE> <AHB<>
:G= HG> >LL:R JN>LMBHG 0A> 0" JN>LMBHGL :K> PHKMA IHBGM >:<A  IHBGML MA> FNEMBIE><AHB<>
JN>LMBHGL :K> PHKMA IHBGML >:<A  IHBGML :G= MA> >LL:R JN>LMBHG BL PHKMA  IHBGML 3> DGHP
MA:M MA> >LL:R JN>LMBHG BL MA> FHLM O:EN:;E> BM BL PHKMA A:E? H? MA> O:EN> H? MA> >Q:F G= P>
LAHNE= :EEH<:M> HNK MBF> ?HK BM :<<HK=BG@ER % PHNE= :=OBL> LM:KMBG@ PBMA MA> >LL:R JN>LMBHG H :
JNB<D :G:ERLBL H? MBF> MH ;> :;E> MH LI>G= RHNK MBF> HG MA> >Q:F PBL>ER 5HN P:GM MH LI>G= LHF>
MBF> PBMA MA> >Q:F JN>LMBHG LBG<> BM BL LH O:EN:;E> PBMAHNM L:<KB`<BG@ :=>JN:M> MBF> MH >GLNK> MA>
0":G=FNEMBIE><AHB<>JN>LMBHGL:K>:GLP>K>=
+?M>G MA> HK=>K H? MA> >Q:F BG MABL L<>G:KBH PBEE ;> 0" `KLM FNEMBIE> <AHB<> L><HG= :G= >LL:R
MABK= )HLM LMN=>GML PBEE @H BG MA> <AKHGHEH@B<:E HK=>K H? MA> >Q:F ;NM : L:OOR LMN=>GM PHNE=
LM:KM PBMA MA> >LL:R %? :G >Q:F P>K> MH E:LM ?HK  FBGNM>L PBMA MABL ?HKF:M H? JN>LMBHGL % FB@AM
K><HFF>G= : LMN=>GM LI>GM  FBGNM>L HG MA> >LL:R JN>LMBHG M>G FBGNM>L HG MA> FNEMBIE> <AHB<>
MAK>>FBGNM>LHGMA>0":G=MPHFBGNM>LK>OB>PBG@MA>BK:GLP>K
ELH EHHD ?HK LBMN:MBHGL PA>K> >Q:FL I>G:EBS> LMN=>GML ?HK BG<HKK><MER :GLP>KBG@ : JN>LMBHG
0ABL =H>L GHM H<<NK O>KR H?M>G ;NM BL MA> <:L> PBMA LHF> >Q:FL 3BMA MA> /0 ?HK >Q:FIE>
LMN=>GML :K> :P:K=>= HG> IHBGM ?HK : <HKK><M :GLP>K :G= T H? : IHBGM LN;MK:<M>= ?HK :G BG<HKK><M
:GLP>K ,HBGML :K> GHM :P:K=>= GHK LN;MK:<M>= ?HK E>:OBG@ : JN>LMBHG ;E:GD 0ANL MA> LMK:M>@R ?HK
: FNEMBIE><AHB<> JN>LMBHG BL B? RHN <:G G:KKHP =HPG MA> IHM>GMB:EER <HKK><M :GLP>K MH MPH K:MA>K
MA:G ?HNK HK `O> BM BL LM:MBLMB<:EER :=O:GM:@>HNL MH :GLP>K MA> JN>LMBHG :G= @N>LL ;>MP>>G MA> MPH
:GLP>KL AHP>O>K B? : LMN=>GM A:= GH B=>: B? :GR H? MA> :GLP>KL P>K> <HKK><M HK BG<HKK><M BM PHNE=
;> ;>LM MH E>:O> MA> :GLP>K ;E:GD .>F>F;>K MABL BL K:K> ;NM BM BL BFIHKM:GM MH NG=>KLM:G= MA>
LMK:M>@RPA>GLMN=>GMLM:D>MA>L>>Q:FL
%G <HG<ENLBHG MA> FHK> BG?HKF:MBHG RHN A:O> :;HNM MA> >Q:F MA> ;>MM>K RHN <:G IK>I:K> ?HK
<HGM>GM :EEH<:MBHG H? MBF> LI>GM HG :LI><ML H? MA> >Q:F :G= MA> FHK> <HG`=>GM RHN PBEE ;> BG
DGHPBG@AHP:G=PA>GMH:MM>FIMMH:GLP>KJN>LMBHGL
'/931/@3=4G=C@0=2G
>?HK> MA> >Q:F BM BL BFIHKM:GM MH IK>I:K> RHNK ;K:BG :G= ;H=R ?HK HIMBF:E I>K?HKF:G<> ?HK RHNK
>Q:F H GHM <K:F MA> GB@AM ;>?HK> #>M : @HH= GB@AMZL LE>>I ):D> LNK> RHN >:M GNMKBMBHNLER
;>?HK> MA> >Q:F % K><HFF>G= >Q>K<BLBG@ MA> =:R ;>?HK> :G= B? IHLLB;E> : ?>P AHNKL ;>?HK> MA>
>Q:F
&B@/B3573A4=@&>317M1F/;=@;/BA
$:=.8:*5;.!=.;<287;
(HHD ?HK JN:EB`>KL JN:EB`>K BL : PHK= MA:M BL :;LHENM> !Q:FIE>L :K> :EE G>O>K GH :EP:RL G>O>K
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
GHG> >O>KR HGER >GMBK>ER 0A>R :K> H?M>G L>>G BG ?:EL> LM:M>F>GML 0ABL BL ;><:NL> BM BL FHK>
=Bb<NEM MH <K>:M> : MKN> LM:M>F>GM NLBG@ : JN:EB`>K EBD> G>O>K GH :EP:RL >M< "HK >Q:FIE> [EE
<:ML <A:L> FB<>\ :ML F:R ;> DGHPG ?HK <A:LBG@ FB<> ;NM GHM :EE H? MA>F =H LH 0A> :GLP>K A>K>
BL ?:EL> :G= MA> JN:EB`>K [:EE\ @:O> NL : MBI -N:EB`>KL LN<A :L LHF>MBF>L F:GR LHF> FHLM H?M>G
:G= NLN:EER :K> <HFFHGER ?HNG= BG MKN> LM:M>F>GML "HK >Q:FIE> [)HLM <:ML <A:L> FB<>\ 0ABL BL
MKN>:G=MA>JN:EB`>K[FHLM\@:O>NL:MBI
):D> LNK> MH K>:= MA> >GMBK> LM:M>F>GM EE I:KML H? : L>GM>G<> FNLM ;> MKN> B? MA> PAHE>
LM:M>F>GM BL MH ;> MKN> %? HG> I:KM H? BM BL ?:EL> MA> PAHE> L>GM>G<> BL ?:EL> (HG@ L>GM>G<>L :K> H?M>G
?:EL>?HKMABLK>:LHG
/MN=>GML LAHNE= @N>LL HG 0KN> HK ":EL> JN>LMBHGL MA>R =H GHM DGHP MA> :GLP>K MH NGE>LL MA>K>
BL:I>G:EMR?HK:GBG<HKK><M:GLP>K
=5<295.182,.!=.;<287;
0ABGD H? FNEMBIE> <AHB<> JN>LMBHGL :L ?HNK HK `O> MKN> HK ?:EL> LM:M>F>GML BG HG> +G> H? MA>
LM:M>F>GML BL MKN> MA> <HKK><M :GLP>K :G= MA> HMA>KL PBEE ;> ?:EL> IIER MA> L:F> LMK:M>@R MHP:K=
JN:EB`>KL %? RHN L>> :G :;LHENM> JN:EB`>K BG HG> H? MA> :GLP>K <AHB<>L BM BL IKH;:;ER ?:EL> :G= GHM
MA> <HKK><M :GLP>K 0KR MH B=>GMB?R MA> MKN> LM:M>F>GM %? RHN <:G =H MABL RHN A:O> MA> :GLP>K :L
MA>K>BLHGERHG>%?RHN<:GGHM=HMABL:M`KLMMKR>EBFBG:MBG@:GLP>KLRHNDGHPMH;>?:EL>
%? MA>K> BL GH I>G:EMR ?HK BG<HKK><M :GLP>KL FR LN@@>LMBHG BL MH @N>LL B? RHN :K> GHM <>KM:BG H? MA>
:GLP>K %? MA>K> BL : I>G:EMR ?HK BG<HKK><M :GLP>KL <HFFHG EH@B< BL MH @N>LL B? RHN <:G >EBFBG:M>
MPH H? MA> :GLP>KL :L BG<HKK><M I>G=BG@ PA:M MA> I>G:EMR BL %? MA>K>ZL : I>G:EMR :G= RHN <:GGHM
G:KKHP =HPG MA> :GLP>KL BMZL ;>LM MH E>:O> BM ;E:GD 5HN F:R PBLA MH :LD RHNK BGLMKN<MHK ?HK
<E:KB`<:MBHG
GLP>KL MA:M :K> LMK:G@> :G= NGK>E:M>= MH MA> JN>LMBHG :K> NLN:EER ?:EL> %? MPH :GLP>KL A:O> :
PHK= MA:M EHHDL HK LHNG=L LBFBE:K HG> H? MAHL> BL NLN:EER <HKK><M "HK >Q:FIE> :;=N<MHK :==N<MHK
%? RHN L>> MA>L> :L MPH H? MA> ?HNK HK `O> <AHB<>L HG> H? MA>F BL NLN:EER <HKK><M ELH EHHD
?HK :GLP>KL MA:M :K> @K:FF:MB<:EER BG<HKK><M 0A>L> :K> NLN:EER BG<HKK><M :GLP>KL %? RHN A:O> MH
<HFIE>M>ER @N>LL <AHHL> HK  %M BL LM:MBLMB<:EER IKHO>G MH ;> <HKK><M FHK> MA:G  I>K<>GM H? MA>
MBF> %? MA>K> :K> ?HNK :GLP>KL ?HK >:<A JN>LMBHG :G= :G >Q:F A:= LM:G=:K=BS>= MA> :GLP>KL >:<A
:GLP>K HG MA> >Q:F   :G= PHNE= ;> >JN:E NM FHLM BGLMKN<MHKL =H GHM LM:G=:K=BS> MA>BK
:GLP>KL :G= FHK> <HKK><M :GLP>KL :K> ?HNG= BG MA> FB==E>  :G= MA>G MA> >QMK>F>L :G=
HK ! [,>HIE> PKBMBG@ BLHE:M>= ?HNK<AHB<> JN>LMBHGL AB=> MA> <HKK><M :GLP>K BG MA> MPH FB==E>
IHLBMBHGL :;HNM  H? MA> MBF>\
<
0ABL BL  I>K<>GM FHK> <HKK><M :GLP>KL ?HNG= BG HK MA:G
:LM:G=:K=BS>=>Q:FPBMA>JN:E<HKK><M:GLP>KL?HK>:<AE>MM>K
<3 "S61S!'GS3:%/4-*SS$"S!SG
$S-R*RS(S3:JS!R4=;;>K(3?;6
)3=6<;BG<=D3
<5DH9F-9GH-5?=B;,HF5H9;M,D97=X7G 
*<,1270!=.;<287;
EMAHN@A E>LL <HFFHG MA:G MA> HMA>K MRI>L H? >Q:FL RHN PBEE EBD>ER L>> LHF> F:M<ABG@ >Q:FL
=NKBG@ RHNK MBF> BG <HEE>@> "BKLM K>:= MA> BGLMKN<MBHGL :G= M:D> : EHHD :M ;HMA EBLML MH =>M>KFBG>
PA:M MA> BM>FL :K> :G= MA>BK K>E:MBHGLABI %M BL >LI><B:EER BFIHKM:GM MH =>M>KFBG> B? ;HMA EBLML A:O>
MA>L:F>GNF;>KH?BM>FL:G=B?:EEBM>FL:K>MH;>NL>=:G=NL>=HGERHG<>
):M<ABG@ >Q:FL ;><HF> FN<A FHK> =Bb<NEM B? HG> EBLM A:L FHK> BM>FL MA:G MA> HMA>K HK B?
BM>FL >BMA>K FB@AM GHM ;> NL>= HK <HNE= ;> NL>= FHK> MA:G HG<> %? RHNK >Q:F BGLMKN<MBHGL =H GHM
=BL<>KG MABL RHN F:R PBLA MH :LD RHNK BGLMKN<MHK ?HK ?NKMA>K <E:KB`<:MBHG % :=OBL> LMN=>GML MH M:D>
: EHHD :M MA> PAHE> EBLM ;>?HK> L>E><MBG@ :G :GLP>K ;><:NL> : FHK> <HKK><M :GLP>K F:R ;> ?HNG=
?NKMA>K BGMH MA> EBLM ):KD BM>FL PA>G RHN :K> LNK> RHN A:O> : F:M<A I>G=BG@ MA> GNF;>K H?
BM>FL BG MA> EBLM MABL F:R >EBFBG:M> :GLP>KL ?HK MA> ?NMNK> #N>LLBG@ B? G>>=>= LAHNE= M:D> IE:<>
HG<>RHNA:O>L>E><M>=:GLP>KLRHN:K><>KM:BG:;HNM
#18:<7;?.:!=.;<287;
.>:= :EE H? MA> BGLMKN<MBHGL `KLM N=@>M RHNK MBF> :G= MA>G K>:= :EE H? MA> JN>LMBHGL GLP>K MA>
HG>L RHN DGHP ;>LM HK ?>>E MA> FHLM <HG`=>GM PBMA 0A>G @H ;:<D MH MA> HMA>K HG>L %? RHN =H
GHM DGHP MA> :GLP>K :G= MA>K> BL GH I>G:EMR ?HK BG<HKK><M :GLP>KL @N>LL 1L> <HFFHG L>GL>
/HF>MBF>L BGLMKN<MHKL PBEE :P:K= I:KMB:E <K>=BM ?HK : EH@B<:E :GLP>K MA:M BL K>E:M>= >O>G B? BM BL GHM
MA><HKK><M:GLP>K
;;*A!=.;<287;
'>>I BG FBG= MA:M DGHPBG@ MA> ?HKF:M H? MA> >Q:F <:G A>EI RHN =>M>KFBG> AHP MH LMN=R %? %
DGHP MA:M % :F M:DBG@ : 0KN>":EL> >Q:F % DGHP MA:M % PBEE G>>= MH =BL<>KG PA>MA>K : LM:M>F>GM
BL 0KN> HK ":EL> % PBEE G>>= MH DGHP LN;C><M <HGM>GM ?HK MA> <HNKL> NM B? % :F LMN=RBG@ ?HK LAHKM
:GLP>K :G= >LI><B:EER ?HK >LL:R JN>LMBHGL % FNLM DGHP : EHM FHK> "HK >LL:R JN>LMBHGL % FNLM
A:O> FN<A @K>:M>K <HGM>GM DGHPE>=@> :G= ;> :;E> MH F:D> : <HA>K>GM :K@NF>GM MA:M :GLP>KL MA>
JN>LMBHG NLBG@ BG?HKF:MBHG ?KHF M>QM;HHDL E><MNK>L HK HMA>K <HNKL> F:M>KB:EL % A:O> MH IE:<> : EHM
FHK> MBF> :G= MAHN@AM BGMH LMN=RBG@ ?HK :G >LL:R >Q:F MA:G ?HK 0KN>":EL> HK )NEMBIE>AHB<>
>Q:FL
.>:= MA> >LL:R JN>LMBHGL :G= MA> BGLMKN<MBHGL `KLM ,E:G RHNK MBF> PBL>ER :G= HK@:GBS> RHNK
:GLP>K ;>?HK> RHN LM:KM MH PKBM> ==K>LL MA> :GLP>K MH MA> JN>LMBHG BG RHNK `KLM HK L><HG=
L>GM>G<> %M F:R A>EI MH K>LM:M> MA> HKB@BG:E JN>LMBHG 3KBM> <E>:KER :G= E>@B;ER %GLMKN<MHKL A:O>
=Bb<NEMR @K:=BG@ >LL:RL MA:M MA>R <:GGHM K>:= /:O> LHF> MBF> ?HK K>OB>P PA>G RHN A:O> `GBLA>=
PKBMBG@ MH <A><D LI>EEBG@ @K:FF:K :G= <HA>K>GM MAHN@AM BG RHNK :GLP>K ):D> LNK> RHN A:O>
:==K>LL>=:EEI:KMLH?MA>>LL:RJN>LMBHG
NKBG@MA>!Q:F
EP:RLK>:=MA>=BK><MBHGL`KLM.>:=MA>FMAHKHN@AER
,K>OB>PMA>>Q:FMHA>EIRHN:EEH<:M>IKHI>KMBF>?HK>:<A:K>:
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
/DBI JN>LMBHGL B? RHN =H GHM DGHP MA> :GLP>K ;NM F:D> : F:KD LHF>PA>K> MH >GLNK> RHN
:K> :;E> MH @H ;:<D MH MAHL> JN>LMBHGL RHN F:R G>>= MH K>:EEH<:M> RHNK IK>I:K>= MBF> ?HK MABL
=>I>G=BG@HGAHPF:GRMA>K>:K>
EEH<:M> LHF> MBF> MH K>OB>P RHNK :GLP>KL ;>?HK> LN;FBMMBG@ RHNK >Q:F HK MA> >Q:F MBF>
>QIBKBG@
+G> H? MA> ;B@@>LM FBLM:D>L MA:M LMN=>GML F:D> :?M>K MA>R M:D> :G >Q:F BG : <HNKL> BL MA:M MA>R
=H GHM NL> MA> >Q:F ?HK MA> ?NMNK> 0A> >Q:F <HGM:BGL : EHM H? BG?HKF:MBHG MA:M <:G ;> A>EI?NE BG
LMN=RBG@ ?HK ?NMNK> >Q:FL /MN=>GML MA:M I>K?HKF P>EE HG :G >Q:F H?M>G INM BM :P:R MABGDBG@ MA>R
=H GHM G>>= BM :GRFHK> /MN=>GML PAH =H IHHKER HG :G >Q:F H?M>G INM BM :P:R GHM P:GMBG@ MH
MABGD:;HNMBM:GR?NKMA>K
%G ;HMA <:L>L LMN=>GML :K> FBLLBG@ HNM HG MA> O:EN> H? K>OB>PBG@ MA>BK >Q:FL %M BL PBL> MH
K>OB>P >Q:FL ?HK MAK>> K>:LHGL  LMN=>GML LAHNE= K>OB>P MA> :GLP>KL MA:M P>K> <HKK><M ;><:NL>
MA>R F:R L>> MAHL> JN>LMBHGL HG ?NMNK> >Q:FL :G= BM BL BFIHKM:GM MH K>BG?HK<> E>:KGBG@  LMN=>GML
LAHNE= K>OB>P MA> :GLP>KL MA:M P>K> BG<HKK><M BG HK=>K MH E>:KG PA:M MA> <HKK><M :GLP>K P:L :G=
PAR 0A>L> JN>LMBHGL :ELH F:R :II>:K HG : ?NMNK> >Q:F %G :==BMBHG H<<:LBHG:EER :G :GLP>K BL
F:KD>= BG<HKK><M PA>G BM LAHNE= A:O> ;>>G F:KD>= <HKK><M 0A> LMN=>GM PHNE= G>O>K DGHP MABL
B? MA>R =B=GZM K>OB>P MA>BK >Q:F :G=  MA>K> BL O:EN> BG K>OB>PBG@ MA> >Q:F MH MKR MH IK>=B<M PA:M
JN>LMBHGLHKPA:M?HKF:MPBEE;>NL>=;R:IKH?>LLHK?HK:?NMNK>>Q:FBGMA>L:F><HNKL>
CB6=@JA&B=@G
0<5H 8C9G =H A95B HC 69 5 TDCCF H9GH H5?9FU -<=B? 56CIH H<5H C9G =H A95B H<5H H<9 GHI89BH <5G DIH 9[CFH
=BHC GHI8M=B; 6IH <5G 8=Z7I@HM IB89F DF9GGIF9 C9G =H A95B H<5H 5 GHI89BH GHI8=9G H<9 KFCB; A5H9F=5@
\G H<9 GHI89BH DF9D5F98 6IH 8C9G BCH 9L97IH9 K9@@ CI@8 H<9 GHI89BH <5J9 5 @95FB=B; 8=G56=@=HM F9 H<9M
A=GG=B; ?9M GHF5H9;=9G :CF H5?=B; H9GHG \H 7CI@8 A95B 5BM C: H<CG9 H<=B;G B8 K<=@9 \ 69@=9J9 H<5H =H A5M 69
HFI9 H<5H 5 GHI89BH A5M 69 5 TDCCF H9GH H5?9FU =H 8C9G BCH 6M 5BM A95BG A95B =H =G D9FA5B9BH ,HI89BHG
K=@@=B;HCKCF?<5F85B8@95FB75B=ADFCJ9H<9=FH9GHH5?=B;G?=@@G5B8F5=G9H<9=F7CBX89B79
\B <=;< G7<CC@ 7<9A=GHFM \ 95FB98 5 ;F589 \B A=7FC97CBCA=7G 5H . ,5BH5 FIN \ GHFI;;@98 5B8 65F9@M
D5GG98 CH< C: H<9G9 7@5GG9G <58 ;F58=B; GMGH9AG H<5H K9F9 <95J=@M K9=;<H98 6M 9L5AG \ K5G 5B 56CJ9
5J9F5;9 GHI89BH =B AM CH<9F 7@5GG9G =B 6CH< <=;< G7<CC@ 5B8 7C@@9;9 5B8 GC \ K5G HC@8 5B8 69@=9J98
:CF 5 @CB; H=A9 H<5H \ K5G BCH 5 T;CC8 H9GH H5?9FU \ BC @CB;9F 69@=9J9 H<=G \ K=@@ BCH A5?9 9L7IG9G -<9
F9GDCBG=6=@=HM :CF H<9 ;F589 \ 95FB98 F9GHG GC@9@M K=H< A9 \ A9BH=CB H<=G 6975IG9 A5BM GHI89BHG 7CA9 HC AM
CZ79 5B8 7CAD@5=B H<5H H<9=F DFC:9GGCF ;F589G =B 5 K5M H<5H =G IB:5=F HC H<9A 6975IG9 GC AI7< 9AD<5G=G
=G CB 9L5AG 5B8 H<5H H<9M IB89FGH5B8 H<9 A5H9F=5@ 6IH 5F9 TBCH ;CC8 H9GH H5?9FGU \H A5M 69 H<9 75G9 H<5H
AM ;F589 CF 5BCH<9F GHI89BHGS ;F589 KCI@8 <5J9 699B 69HH9F <58 H<9 7CIFG9 ;F589 699B 89H9FA=B98 K=H<
@9GG K9=;<H @9J=98 HC 9L5AG -<5H HC A9 =G =FF9@9J5BH \H 8C9G BCH 56GC@J9 A9 :FCA 69=B; F9GDCBG=6@9 :CF
?BCK=B; K<5H H<9 ;F58=B; A9HF=7G K9F9 5H H<9 69;=BB=B; C: H<9 7CIFG9 5B8 7<CCG=B; HC 7CBH=BI9 =B H<9
7CIFG9 5:H9F @95FB=B; H<=G ?BCK@98;9 \B H<9 9B8 \ F95@=N98 \ K5G BCH 5 DCCF H9GH H5?9F 5B8 H<5H \ B99898
HC GD9B8 ACF9 H=A9 GHI8M=B; 5B8 DF9D5F=B; HC D9F:CFA K9@@ CB 9L5AG \ 7<5B;98 AM 5HH=HI89 :FCA 69=B;
5:F5=8 C: 9L5AG HC CB9 C: 69@=9J=B; \ K5G ;C=B; HC 8C K9@@ F9;5F8@9GG C: H<9 7@5GG CF H<9 :CFA5H C: H<9 9L5A
(B79 \ <58 7CBX89B79 H<5H \ <58 H<9 B979GG5FM HCC@G 5B8 K5G K=@@=B; HC KCF? <5F8 =H 7<5B;98 AM 9BH=F9
D9FGD97H=J95B89LD9F=9B79K=H<9L5AG
<5DH9F-9GH-5?=B;,HF5H9;M,D97=X7G 
*HM> B? RHN MABGD RHN F:R A:O> : E>:KGBG@ =BL:;BEBMR :G= PHNE= EBD> MH @>M :LL>LL>= <HGM:<M RHNK
<HEE>@>MHL>>PA:MLM>ILMH?HEEHPMH;>@BGMA>:LL>LLF>GMIKH<>LL
24.:BAB.?;429827<0=*:-*<:6A?2<18+7201<,8*,1*<:6A
0ABGDBG@ :;HNM >Q<NL>L K>FBG=L F> H? : LMHKR :;HNM )BD> 'KSRS>PLDB MA> LN<<>LL?NE ND>
1GBO>KLBMR F>GZL ;:LD>M;:EE <H:<A >?HK> 'KSRS>PLDB <H:<A>= A> P:L : LMN=>GM :M MA> 1GBM>=
/M:M>L )BEBM:KR <:=>FR :M 3>LM ,HBGM +G> =:R BG ABL `KLM R>:K 'KSRSP>LDB :G= ABL KHHFF:M>
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
P>K> P:EDBG@ :G= ABL KHHFF:M> LM>II>= BG : IN==E> )N= LIE:LA>= HGMH 'KSRS>PLDBZL NGB?HKF
%FF>=B:M>ER :G NII>K<E:LLF:G L<K>:F>= :M 'KSRS>PLDB :;HNM GHM DGHPBG@ MA> KNE>L H? P>:KBG@
: <E>:G NGB?HKF ,E>;>L `KLMR>:K LMN=>GML :M FBEBM:KR :<:=>FB>L :K> :EEHP>= MAK>> :GLP>KL PA>G
:LD>= : JN>LMBHG [5>L LBK\ [*H LBK\ G= [*H >Q<NL> LBK\ 'KSRS>PLDB K>I>:M>= ABFL>E? [*H
>Q<NL> LBK\ >LIBM> P:GMBG@ MH >QIE:BG PA:M A:= A:II>G>= :G= MA:M BM P:L GHM ABL ?:NEM A> K>:EBS>=
MA:MMA>K>P:LGH>Q<NL>%MP:LABLK>LIHGLB;BEBMRMHD>>I:<E>:GNGB?HKF
713<A3A/<2BB@70CB7=<A
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2
<5DH9F-9GH-5?=B;,HF5H9;M,D97=X7G 
(<7B3/:B6
3/@<7<5"0831B7D3A
:H9FMCI<5J97CAD@9H98H<=GIB=HMCIG<CI@86956@9HC
V 9XB9<95@H<M 95H=B;<56=HG
V 9G7F=69 H<9A5>CFF=G?GC:5BIB<95@H<M8=9H 5B8H<969B9XHGC:<95@H<M95H=B;
V +97C;B=N9H<9H9ADH5H=CBGBCHHC95HK9@@=B57C@@9;9G9HH=B;
V \89BH=:M H97<B=EI9G:CFA5?=B;<95@H<M:CC87<C=79G
V \89BH=:MH<969B9XHGC:F9;I@5F9L9F7=G9:CF6CH<6C8M5B86F5=B
V )@5B5F9;I@5F9L9F7=G9DFC;F5AH<5HKCF?G:CFMCI
V \89BH=:M69B9XHGC:G@99D:CF6CH<D<MG=75@5B8A9BH5@<95@H<
V L5A=B9MCIF7IFF9BHG@99D<56=HG
V \89BH=:M K5MG HC 9BGIF9 ;CC8 G@99D <56=HG 5B8 <=;<EI5@=HM G@99D 9GD97=5@@M 8IF=B; D9F=C8G C:
GHF9GG
V \89BH=:MGCIF79GC:GHF9GGD5FH=7I@5F@M:CF7C@@9;9GHI89BHG
V 9G7F=69 H<9GMADHCAG5B8 9[97HG C:7<FCB=7GHF9GG
V %=GH<95@H<MK5MGC:A5B5;=B; GHF9GGH<5HXHMCIF7IFF9BH@=:9GHM@9
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH(F=;=B5@
)FCJ=8986M%IA9B%95FB=B;%=79BG92HHF=6IH=CB
<5DH9F'IHF=H=CB
=2/4.$"/$8.41341%2!2/4.$-).$>
P)@5HC
=B>M BL :GRMABG@ MA:M RHN <HGLNF> HG : K>@NE:K ;:LBL %? RHN =KBGD B>M HD> ?HK ;K>:D?:LM
>O>KR =:R MA:MZL I:KM H? RHNK =B>M 3A>G I>HIE> M:ED :;HNM [@HBG@ HG : =B>M\ MA>R NLN:EER F>:G
<A:G@BG@ MA>BK >QBLMBG@ =B>M:KR A:;BML BG HK=>K MH EHL> P>B@AM HK <A:G@> MA>BK ;H=R LA:I> EE
I>HIE> :K> HG : =B>M ;><:NL> >O>KRHG> >:ML $:OBG@ : *'#.6*; &+'6 F>:GL F:DBG@ ?HH= <AHB<>L MA:M
<HGMKB;NM> MH LAHKM :G= EHG@M>KF A>:EMA %M F>:GL @>MMBG@ MA> KB@AM :FHNGML H? GNMKB>GMKB<A
?HH=L :G= :OHB=BG@ ?HH=L MA:M <HGM:BG >Q<>LLBO> :FHNGML H? E>LL A>:EMAR ?HH=L 0A> KB@AM FBQ <:G
A>EIRHN;>A>:EMAB>KGHP:G=BGMA>?NMNK>
>O>EHIBG@ A>:EMAR >:MBG@ A:;BML =H>LGZM K>JNBK> RHN MH LB@G NI ?HK : @BFFB<DR A>:EMA?HH= =B>M
HK EB?>LMRE> RHN =HGZM A:O> MH ;><HF> O>@:G @ENM>G?K>> [I:E>H\ HK @H HG K>@NE:K CNB<> ?:LML 0A>
LBFIE>LM P:R MH <K>:M> : A>:EMAR >:MBG@ LMRE> BL ;R E>:KGBG@ MH F:D> PBL> ?HH= <AHB<>L MA:M RHN <:G
>GCHR HG> LF:EE LM>I :M : MBF> />> MA> AHHL>)R,E:M> P>;LBM> ?HK FHK> @NB=>EBG>L ==BMBHG:EER
MA>?HEEHPBG@<NKK>GM1/ $>:EMAR!:MBG@#NB=>EBG>LK>IE:<>MA>HE=[?HH=IRK:FB=\
(&3/:B6G/B7<5 C723:7<3A
Make half your plate fruits and vegetables: Focus on
whole fruits, and vary your veggies
] AHHL>PAHE>?KNBMLX?K>LA?KHS>G=KB>=HK<:GG>=
BGCNB<>
] !GCHR?KNBMPBMAF>:EL:LLG:<DLHK?HK:=>LL>KM
] 0KR:==BG@?K>LA?KHS>GHK<:GG>=O>@>M:;E>LMH
L:E:=LLB=>=BLA>L:G=K><BI>L
] AHHL>:O:KB>MRH?<HEHK?NEO>@@B>LIK>I:K>=BG
A>:EMA?NEP:RLLM>:F>=L:NMV>=KH:LM>=HKK:P
Make half your grains whole grains
] (HHD?HKPAHE>@K:BGLEBLM>=`KLMHKL><HG=HGMA>BG@K>=B>GMLEBLMXMKRH:MF>:EIHI<HKG
PAHE>@K:BG;K>:=:G=;KHPGKB<>
] (BFBM@K:BG=>LL>KML:G=LG:<DLLN<A:L<:D>L<HHDB>L:G=I:LMKB>L
Vary your protein routine
] )BQNIRHNKIKHM>BG?HH=LMHBG<EN=>:O:KB>MRXL>:?HH=;>:GL:G=I>:LNGL:EM>=GNML:G=
L>>=LLHRIKH=N<ML>@@L:G=E>:GF>:ML:G=IHNEMKR
] 0KRF:BG=BLA>LF:=>PBMA;>:GL:G=L>:?HH=EBD>MNG:L:E:=HK;>:G<ABEB
Move to low-fat or fat-free milk or yogurt
] AHHL>?:M?K>>FBEDRH@NKM:G=LHR;>O>K:@>LLHRFBEDMH<NM;:<DHGRHNKL:MNK:M>=?:M
] .>IE:<>LHNK<K>:F<K>:F:G=K>@NE:K<A>>L>BGK><BI>L:G==BLA>LPBMAEHP?:MRH@NKMFBED
:G=<A>>L>
Drink and eat less sodium, saturated fat, and added sugars
] !:MBG@?>P>K<:EHKB>L?KHF?HH=LAB@ABGL:MNK:M>=?:M:G=:==>=LN@:KL<:GA>EIRHNF:G:@>
RHNK<:EHKB>L:G=IK>O>GMH;>LBMR)HLMH?NL>:MMHHF:GR?HH=LMA:M:K>AB@ABGL:MNK:M>=?:M
:G=:==>=LN@:K
] !:MBG@?HH=LPBMAE>LLLH=BNF<:GK>=N<>RHNKKBLDH?AB@A;EHH=IK>LLNK>
] 1L>MA> *NMKBMBHG":<MLE:;>E :G=BG@K>=B>GMLEBLMMH<HFI:K>?HH=L:G==KBGDL(BFBMBM>FL
AB@ABGLH=BNFL:MNK:M>=?:M:G=:==>=LN@:KL
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
] 1L>O>@>M:;E>HBELBGLM>:=H?;NMM>K:G=<AHHL>HBE;:L>=L:N<>L:G==BILBGLM>:=H?MAHL>PBMA
;NMM>K<K>:FHK<A>>L>
] KBGDP:M>KBGLM>:=H?LN@:KR=KBGDL
Eat the right amount
] !:MMA>KB@AM:FHNGMH?<:EHKB>L?HKRHN ;:L>=HGRHNK:@>L>QA>B@AMP>B@AM:G=IARLB<:E
:<MBOBMRE>O>E2BLBMMA> 1/ /NI>K0K:<D>KPAB<A<:GA>EIRHNIE:G:G:ERS>:G=MK:<DRHNK
=B>M:G=IARLB<:E:<MBOBMR
] NBE=BG@: A>:EMAB>K>:MBG@LMRE> <:GA>EIRHN:OHB=H;>LBMR:G=K>=N<>RHNKKBLDH?=BL>:L>L
LN<A:LA>:KM=BL>:L>=B:;>M>L:G=<:G<>K
HKG>EE 1GBO>KLBMR ?HNG= MA:M MA> :O>K:@> :=NEM >:ML  H? PA:M>O>K A> HK LA> INML HG MA>BK IE:M>
+G>H?MA><A:EE>G@>LBLMA:MIHKMBHGLBS>LA:O>=K:LMB<:EERBG<K>:L>=HO>KMA>E:LMR>:KL
<
3/:B6G/B7<57<=::353
HEE>@> H_>KL F:GR M>FIM:MBHGL ?HK LMN=>GML MKRBG@ MH <K>:M> HK F:BGM:BG A>:EMAR >:MBG@ A:;BML
5HN F:R ;> HG RHNK HPG ?HK MA> `KLM MBF> :G= RHNZK> ?K>> MH >:M PA:M>O>K RHN P:GM PA>G>O>K
RHN P:GM :?>M>KB:L :EERHN<:G>:M =BGBG@ ?:<BEBMB>L O>G=BG@ F:<ABG>L :G= >:LR :<<>LL MH ?HH=
MP>GMR?HNK AHNKL : =:R F:D> BM M>FIMBG@ MH HO>K>:M HK <AHHL> ?HH=L EH:=>= PBMA <:EHKB>L
L:MNK:M>= ?:M LN@:K :G= L:EM 5HN F:R GHM ;> BG MA> A:;BM H? LAHIIBG@ HK <HHDBG@ ?HK RHNKL>E? R>M
:G= PA>G RHN `G= RHNKL>E? LAHKM HG MBF> HK FHG>R BM F:R L>>F >:LB>K MH ?N>E RHNKL>E? HG LN@:KR
<:_>BG:M>= =KBGDL :G= F>:EL :M MA> G>:K>LM ?:LM?HH= IE:<> ELH F:R;> RHN IE:R>= ;:LD>M;:EE HK
OHEE>R;:EEBGAB@AL<AHHE;NMGHPRHN=HGZML>>FMH;>@>MMBG@FN<A>Q>K<BL>
+G MHI H? MA:M BMZL <HFFHG ?HK I>HIE> MH HO>K>:M HK GHM >:M >GHN@A PA>G MA>R ?>>E :GQBHNL
EHG>ER L:= LMK>LL>= HK ;HK>= :G= <HEE>@> LMN=>GML :K> GH >Q<>IMBHG %MZL BG<K>=B;ER BFIHKM:GM
MAHN@A MH =>O>EHI A>:EMAR P:RL H? <HIBG@ :G= K>E:QBG@ MA:M =HGZM BGOHEO> K>:<ABG@ ?HK ?HH=
=KBGD HK HMA>K LN;LM:G<>L %MZL :ELH BFIHKM:GM MH >:M K>@NE:K A>:EMAR F>:EL MH D>>I NI RHNK >G>K@R
1B7D7BGAA3AA,=C@&</197<5/07BA
+3.,<2>.
V +97C;B=N9H<9H9ADH5H=CBGBCHHC95HK9@@=B57C@@9;9G9HH=B;
<3 /S6'S S"3 :-$*$4"B=Q,G,
S3: -S#S, >B6  >C<H>C?J=;<@K3
<5DH9F'IHF=H=CB 
2:.,<287;
V $99D 5 85=@M GB57? >CIFB5@ :CF CB9 K99? 0F=H9 8CKB H<9 HMD9G 5B8 5ACIBHG C: GB57? :CC8G
5B8 69J9F5;9G MCI 7CBGIA9 69HK99B A95@G 957< 85M +97CF8 H<9 H=A9 C: 85M 5B8 BCH9 6(%1%
MCI95H8F=B?957<=H9A
V H H<9 9B8 C: H<9 K99? F9J=9K MCIF >CIFB5@ C MCI BCH=79 5BM IB<95@H<M GB57?G CF 9ADHM
75@CF=9 8F=B?G F9 H<9F9 5BM D5HH9FBG F9 H<9F9 H=A9G C: 85M K<9B MCISF9 9GD97=5@@M DFCB9
HC 7<CCG=B; IB<95@H<M GB57?G8F=B?G F9 H<9F9 D5FH=7I@5F D@579G K<9F9 MCI H9B8 HC F957< :CF
>IB?:CC8
V \B 5 G<CFH F9Y97H=J9 9GG5M P D5;9G @CB; 89G7F=69 K<5H MCI C6G9FJ98 56CIH MCIF GB57?=B;
<56=HG 8IF=B; H<9 K99? \89BH=:M 5BM <56=HG MCIS8 @=?9 HC 7<5B;9 5B8 9LD@5=B K<M
9G7F=69 G9J9F5@ GHF5H9;=9G MCI 7CI@8 IG9 HC 6F95? 658 <56=HG 5B8 F9D@579 IB<95@H<M GB57?G
K=H< <95@H<=9F CB9GLD@5=BK<MMCIH<=B?H<9G9GHF5H9;=9GK=@@699[97H=J9
V C@@CKMCIF=BGHFI7HCFSG=BGHFI7H=CBG:CFGI6A=HH=B;5GG=;BA9BHG
713<A3A/<2BB@70CB7=<A
V 'IHF=H=CB #@=D72320G%IA9B%95FB=B; 713<A3  331)"43)/.
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2
@=79BG987CBH9BH,<5F98DF9J=CIG@M
V )@5BB=B; 5 =9H #@=D7232 0G )=9F79 C@@9;9 =1/B32 /B
<HHDG7CIFG9G75B89@5@95FB=B;7CABIHF=H=CBLA5GH9F7<5DH9FD@5BB=B;58=9H7CBH9BH
B99898FM5B 713<A3  331)"43)/.
)I6@=78CA5=B7CBH9BH
V &M)@5H9 &M0=BG #@=D7232 0G ., =1/B32 /B <HHDKKK7<CCG9AMD@5H9;CJ
AMD@5H9AMK=BG 713<A3 4",)#/-!)././6./081)'(3
85DH=CBG +9ACJ98 =A5;9G J=89C F9@C75H98 @95FB=B; C6>97H=J9G F9ACJ98 $=8G"95@H<CF;
D5F5;F5D<5B8:CCHBCH9
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
<5DH9FL9F7=G9
=5%18-/1.).').&1)#!!'!9%,,%6!+%240A3+./62)3-42314.&!23%13(!.3(%&!23%23,)/./1)36),,"%
+),,%$5%18-/1.).'!,)/.6!+%240A3+./62)3-423/4314.3(%2,/6%23'!9%,,%/1)36),,23!15%3/$%!3(
A3$/%2.<3-!33%16(%3(%18/4!1%!,)/./1!'!9%,,%6(%.3(%24.#/-%2408/4<$"%33%1"%14..).'>
P5B&CBH5BC
%35C:/@F3@17A3 3/:B64=@743
0A> BFIHKM:G<> H? @>MMBG@ K>@NE:K >Q>K<BL> BL IKH;:;ER GHMABG@ G>P MH RHN 0A> A>:EMA ;>G>`ML
:K> P>EE DGHPG :G= >LM:;EBLA>= .>@NE:K IARLB<:E :<MBOBMR <:G IKH=N<> EHG@M>KF A>:EMA ;>G>`ML
;R K>=N<BG@ RHNK KBLD H? F:GR A>:EMA IKH;E>FL LN<A :L A>:KM =BL>:L> <:G<>K :G= =B:;>M>L :G= BM
<:G :ELH BG<K>:L> RHNK <A:G<>L H? EBOBG@ EHG@>K A>EI RHN <HGMKHE RHNK P>B@AM :G= >O>G A>EI RHN
LE>>I;>MM>K
L : ;NLR <HEE>@> LMN=>GM RHN F:R ;> MABGDBG@ -019 6*+5 $76 &10>6 *#8' 6+/' *#8' %.#55'5
#0& 914- #0& # (7.. .+(' 3A:M RHN F:R GHM DGHP BL MA:MXIK><BL>ER ;><:NL> RHN A:O> LN<A :
=>F:G=BG@ IHLLB;ER LMK>LL?NE L<A>=NE>XGHP BL MA> I>K?><M MBF> MH F:D> >Q>K<BL> : K>@NE:K I:KM
H? RHNK EB?> #>MMBG@ BGMH :G >_><MBO> >Q>K<BL> KHNMBG> GHP PBEE GHM HGER F:D> BM >:LB>K MH ;NBE=
A>:EMAR A:;BML MA:M RHN <:G M:D> PBMA RHN BGMH RHNK EB?> :?M>K <HEE>@> ;NM BM <:G :<MN:EER A>EI RHN
;> : FHK> LN<<>LL?NE LMN=>GM MHH L RHNZEE L>> BG MA> L><MBHG HG ;K:BG A>:EMA ;>EHP >Q>K<BL>
BL : IHP>K?NE MHHE ?HK BFIKHOBG@ HG>ZL F>GM:E A>:EMA :G= F>FHKRX;HMA H? PAB<A :K> >LI><B:EER
BFIHKM:GM PA>GRHNZK>BGL<AHHE
0A> @HH= G>PL BL MA:M FHLM I>HIE> <:G BFIKHO> MA>BK A>:EMA :G= JN:EBMR H? EB?> MAKHN@A : FH=>LM
BG<K>:L> BG =:BER :<MBOBMR 5HN =HGZM A:O> MH CHBG : @RF LI>G= : EHM H? FHG>R HK >O>G =H MA> L:F>
:<MBOBMR >O>KR MBF>XCNLM @HBG@ ?HK : P:ED HK <AHHLBG@ MH M:D> MA> LM:BKL BGLM>:= H? MA> >E>O:MHK
<:GF:D>:=B_>K>G<>0A>?HEEHPBG@OB=>H=>L<KB;>LAHPFN<A:<MBOBMRRHNG>>=
)723= Physical Activity Guidelines – IntroductionPhysical Activity Guidelines – Introduction
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
756B=@:756B
+NK ;H=B>L A:O> :G :NMHF:MB< [`@AM HK aB@AM\ K>:<MBHG PA>G P> I>K<>BO> : MAK>:M "B@AMBG@
HK KNGGBG@ BL IARLB<:E >Q>K<BL> :G= MA> K>LNEM BL F>M:;HEBSBG@ HNK >Q<>LLBO> LMK>LL AHKFHG>L :G=
;KBG@BG@ HNK ;H=B>L :G= FBG=L ;:<D MH : FHK> K>E:Q>= LM:M> !O>G MAHN@A P> =H GHM LN_>K ?KHF
MA> L:F> MAK>:ML <:O>F>G :G= <:O>PHF>G BG<NKK>= F:GR R>:KL :@H P> LMBEE I>K<>BO> MAK>:ML :G=
P> LMBEE LN_>K ?KHF LMK>LL !Q>K<BL> A:L F:GR IARLB<:E :G= F>GM:E ;>G>`ML BG :==BMBHG MH EHP>KBG@
LMK>LL
.>@NE:K IARLB<:E :<MBOBMR BL HG> H? MA> ;>LM MABG@L RHN <:G =H MH ;> A>:EMAR <<HK=BG@ MH MA>
>GM>KL ?HK BL>:L> HGMKHE :G= ,K>O>GMBHG BML ;>G>`ML BG<EN=> <HGMKHEEBG@ P>B@AM K>=N<BG@
KBLD H? <:K=BHO:L<NE:K =BL>:L> K>=N<BG@ KBLD ?HK MRI> MPH =B:;>M>L K>=N<BG@ KBLD H? <:G<>K
LMK>G@MA>GBG@ ;HG>L :G= FNL<E>L BFIKHOBG@ F>GM:E A>:EMA :G= FHH= BG<K>:LBG@ <A:G<>L H?
EBOBG@ EHG@>K
<
+G> :LLB@GF>GM % @BO> FR LMN=>GML BL MH A:O> MA>F K><HK= :EE ?HH= :G= =KBGDL
<HGLNF>= BG HG> P>>D :EHG@ PBMA D>>IBG@ K><HK=L H? AHP FN<A >Q>K<BL> :G= AHP F:GR AHNKL
<3 $&S$*S6*S"SS34LL33LSG
SSLLLS3R
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
H? LE>>I M:D> IE:<> /HF> LMN=>GML DGHP >Q:<MER PA:M MA>R :K> INMMBG@ BGMH MA>BK ;H=R :G= AHP
MA>R :K> MK>:MBG@ BM NM FHLM :K> LNKIKBL>= :M AHP EBMME> HG> HK FHK> H? MA>L> BFIHKM:GM :LI><ML :K>
LNb<B>GM 0KR BM 0ABGD H? BM :L :G HIIHKMNGBMR MH L>> PA:M RHN :<MN:EER INM BGMH RHNK ;H=R AHP
FN<A>Q>K<BL>:G=K>LMRHN@BO>BM
CB6=@JA&B=@G
\ <58 BCH DF9D5F98 :CF 5B 5GHFCBCAM XB5@ 9L5A -<9 B=;<H 69:CF9 H<9 9L5A \ GH5M98 ID 5@@ B=;<H 7F5AA=B;
5B8 F9;IF;=H5H98 =B:CFA5H=CB \ <58 @95FB98 CBHC H<9 H9GH \AA98=5H9@M 5:H9F H<9 9L5A \ CF89F98 5 @5F;9
D9DD9FCB= D=NN5 5H9 H<9 K<C@9 H<=B; =B CB9 G=HH=B; 5B8 H<9B G@9DH :CF  <CIFG +9;5F8@9GG C: H<9 9L5A
F9GI@H H<=G 9L5AD@9 F9DF9G9BHG K<5H BCH HC 8C \B H<9 @CB; FIB <IA5B 6C8=9G 75BBCH 8C H<=B;G @=?9 H<5H
K=H<CIH 7CBG9EI9B79 0=H< H<9 @=:9GHM@9 \ @=J9 BCK 69=B; A5FF=98 D5F9BH=B; ?=8G 5B8 KCF?=B; :I@@H=A9
H<9F9 =G BC K5M H<5H \ 7CI@8 <5J9 8CB9 H<5H 5B8 699B 56@9 HC :IB7H=CB K9@@ K=H< AM F9GDCBG=6=@=H=9G H<9 B9LH
85M\B588=H=CB=HK5GBCH<95@H<M:CFAM6C8M
?M>K : <E:LL % P:L LI>:DBG@ PBMA : LMN=>GM :;HNM =B>M :G= GNMKBMBHG :G= HNK <HGO>KL:MBHG E>= MH
: =BL<NLLBHG HG MA> <HGMK:LM H? PA:M LHF> LMN=>GML @BO> MA>BK <ABE=K>G MH >:M O>KLNL PA:M MA>R >:M
MA>FL>EO>L %M K>FBG=>= F> H? MA>  @K:IAB< FR <ABE=K>G K><H@GBS> :M MA>BK I>=B:MKB<B:G
OBLBML %M LM:G=L ?HK >:<A =:R HK FHK> ?KNBML HK O>@>M:;E>L AHNKL HK E>LL K><K>:MBHG:E L<K>>G
MBF> AHNK HK FHK> H? IARLB<:E :<MBOBMR LN@:KR =KBGDL FHK> P:M>K +? <HNKL> BM BL =>LB@G>=
?HK DB=L NM F:GR LMN=>GML PHNE= =H P>EE ?HK MA>FL>EO>L MH D>>I MA>  K><HFF>G=:MBHG
BGFBG=
=
+NK ;H=B>L :K> FHK> IKHG> MH @>MMBG@ LB<D B? MA>R :K> GHM P>EE M:D>G <:K> H? #>MMBG@ LB<D BG MA>
FB==E>H?:G:<:=>FB<M>KF<:GA:O>=>O:LM:MBG@>_><MLHGMA>:<:=>FB<I>K?HKF:G<>
FN<A ;>MM>K P:R MH @H :L % I:BG?NEER E>:KG>= BL MH F:D> : L<A>=NE> LMB<D MH BM IK>I:K> :G=
K>OB>PI>KBH=B<:EER@>M:=>JN:M>LE>>I>:MP>EE:G=;>HG:G>Q>K<BL>IE:G
"HK HIMBF:E <HG<>GMK:MBHG E>O>EL PHKD I>K?HKF:G<> :G= M>LM L<HK>L IKHI>K GNMKBMBHG :G=
:=>JN:M> LE>>I A:O> : E:K@> >_><M )R I>KLHG:E HIBGBHG BL MA:M >Q>K<BL> A>EIL <E>:K MA> FBG= PAB<A
BL LH BFIHKM:GM BG HNK <NKK>GM @>G>K:MBHGLZ HO>KPA>EFBG@ ;HF;:K=F>GM H? BG?HKF:MBHG :KHNG=
NL
#6GA71/:7B<3AA/<2'G>3A=4F3@17A3
,ARLB<:E `MG>LL BL : LM:M> H? P>EE;>BG@ MA:M @BO>L RHN LNb<B>GM >G>K@R MH I>K?HKF =:BER IARLB<:E
:<MBOBMB>L PBMAHNM @>MMBG@ HO>KER MBK>= HK PBG=>= %M :ELH F>:GL ;>BG@ BG @HH= >GHN@A LA:I> MH
A:G=E> NG>QI><M>= >F>K@>G<B>L BGOHEOBG@ IARLB<:E =>F:G=LXMA:M BL B? LHF>HG> L:B= [.NG ?HK
RHNKEB?>\HKRHNA:=MHKNLAHO>K:G=IK>O>GM :<ABE=?KHF?:EEBG@RHNZ=;>:;E>MH=HBM
0A>K> :K> F:GR ?HKFL H? >Q>K<BL>X=:G<BG@ KH<D <EBF;BG@ P:EDBG@ CH@@BG@ RH@: ;BD>
=3 $"$!$6SSSF4LL3R3L@=<;
<5DH9FL9F7=G9 
KB=BG@ RHN G:F> BMXMA:M <:G A>EI RHN ;><HF> IARLB<:EER `M 0A> F:CHK MRI>L :K> =>L<KB;>=
;>EHP
.:8+2,@.:,2;.
>KH;B< >Q>K<BL> BG<K>:L>L RHNK A>:KM K:M> PHKDL RHNK FNL<E>L :G= K:BL>L RHNK ;K>:MABG@ K:M> "HK
FHLM I>HIE> BMZL ;>LM MH :BF ?HK : MHM:E H? :;HNM MABKMR FBGNM>L : =:R ?HNK HK `O> =:RL : P>>D %?
RHN A:O>GZM ;>>G O>KR :<MBO> K><>GMER RHN <:G LM:KM HNM PBMA `O> HK M>G FBGNM>L : =:R :G= PHKD
NI MH FHK> MBF> >:<A P>>D +K LIEBM NI RHNK :<MBOBMR ?HK MA> =:R MKR : ;KBLD M>GFBGNM> P:ED :?M>K
>:<A F>:E %? RHN :K> MKRBG@ MH EHL> P>B@AM RHN F:R P:GM MH >Q>K<BL> FHK> MA:G MABKMR FBGNM>L :
=:R0A>?HEEHPBG@:K>LHF>>Q:FIE>LH?:>KH;B<>Q>K<BL>
] ;KBLDP:EDHNMLB=>HKBGLB=>HG:MK>:=FBEE
] :G<BG@
] EHPBFI:<M:>KH;B<L<E:LL
] /PBFFBG@HKP:M>K:>KH;B<>Q>K<BL>L
] %<>LD:MBG@HKKHEE>KLD:MBG@
] ,E:RBG@M>GGBL
] .B=BG@:LM:MBHG:KR;B<R<E>BG=HHKL
#<:.70<1$:*27270
/MK>G@MA MK:BGBG@ =HG> L>O>K:E MBF>L : P>>D A>EIL ;NBE= LMKHG@ ;HG>L :G= FNL<E>L :G= F:D>L
>O>KR=:R <AHK>L EBD> <:KKRBG@ A>:OR ;:<DI:<DL HK @KH<>KR ;:@L >:LB>K 3A>G RHN A:O> FHK>
FNL<E>F:LLRHN;NKGFHK><:EHKB>L>O>G:MK>LM$>K>:K>LHF>P:RLMH=HBM
] &HBG:<E:LLMH=HLMK>G@MAMK:BGBG@PBMAP>B@AML>E:LMB<;:G=LHKIE:LMB<MN;>LB?RHNK<HEE>@>
A:L:@RFM:D>:=O:GM:@>H?BM
] (B?MEB@AMP>B@AML:MAHF>
5.@2+252<A@.:,2;.;
"E>QB;BEBMR >Q>K<BL>L :ELH <:EE>= LMK>M<ABG@ A>EI D>>I RHNK CHBGML a>QB;E> :G= K>=N<> RHNK KBLD H?
BGCNKR =NKBG@ HMA>K :<MBOBMB>L #>GME> LMK>M<ABG@ ?HK MH  FBGNM>L A>EIL RHNK ;H=R P:KF NI
:G= @>M K>:=R ?HK :>KH;B< :<MBOBMB>L LN<A :L P:EDBG@ HK LPBFFBG@ A><D MH L>> B? RHNK <HEE>@>
H_>KL RH@:LMK>M<ABG@:G=HKIBE:M>L<E:LL>L:G=@BO>HG>:MKR
.270,<2>.$1:8=018=<<1.*A
%G :==BMBHG MH ?HKF:E >Q>K<BL> MA>K> :K> F:GR HIIHKMNGBMB>L MH ;> :<MBO> MAKHN@AHNM MA> =:R
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
>BG@ :<MBO> A>EIL ;NKGL <:EHKB>L 0A> FHK> RHN FHO> :KHNG= MA> FHK> >G>K@R RHN PBEE A:O>
0A>?HEEHPBG@ LMK:M>@B>L<:GA>EIRHNBG<K>:L>RHNK:<MBOBMRE>O>E
] 3:EDBGLM>:=H?=KBO>PA>G>O>KIHLLB;E>
] 0:D>MA>LM:BKLBGLM>:=H?MA>>E>O:MHK
] 3HKDBGMA>@:K=>GK:D>E>:O>LHK=HLHF>AHNL><E>:GBG@>O>KR=:R
] ,:KD:MMA>?:K>G=H?MA><:FINLEHM:G=P:EDMH <E:LL
3<3MBA =4F3@17A3/<2#6GA71/:7B<3AA
870.>2<A
!Q>K<BL> >O>G :?M>K :@> `?MR <:G :== A>:EMAR :<MBO> R>:KL MH HG>ZL EB?> /MN=B>L <HGMBGN> MH LAHP
MA:M BMZL G>O>K MHH E:M> MH LM:KM >Q>K<BLBG@ :G= MA:M >O>G LF:EE BFIKHO>F>GML BG IARLB<:E `MG>LL <:G
LB@GB`<:GMEREHP>KMA>KBLDH?=>:MA/BFIERP:EDBG@K>@NE:KER<:GIKHEHG@RHNKEB?>
)H=>K:M>ER `M I>HIE>X>O>G B? MA>R LFHD> HK A:O> AB@A ;EHH= IK>LLNK>XA:O> : EHP>K FHKM:EBMR
K:M> MA:G MA> E>:LM `M .>LBLM:G<> MK:BGBG@ BL BFIHKM:GM ;><:NL> BMZL MA> HGER ?HKF H? >Q>K<BL> MA:M <:G
LEHP :G= >O>G K>O>KL> MA> =><EBG> H? FNL<E> F:LL ;HG> =>GLBMR :G= LMK>G@MA ==BG@ PHKDHNML
MA:M ?H<NL HG LI>>= :G= :@BEBMR <:G ;> >LI><B:EER IKHM><MBO> ?HK HE=>K I>HIE> "E>QB;BEBMR >Q>K<BL>L
A>EIK>=N<>MA>LMB_G>LL:G=EHLLH?;:E:G<>MA:M:<<HFI:GB>L:@BG@
2*+.<.;
B:;>M>L I:KMB<NE:KER MRI>  BL K>:<ABG@ >IB=>FB< IKHIHKMBHGL MAKHN@AHNM MA> PHKE= :L FHK>
:G= FHK> <NEMNK>L :=HIM 3>LM>KGLMRE> =B>ML PAB<A M>G= MH ;> AB@A BG LN@:K :G= ?:M >KH;B<
>Q>K<BL> BL IKHOBG@ MH A:O> LB@GB`<:GM :G= I:KMB<NE:K ;>G>`ML ?HK I>HIE> PBMA ;HMA MRI> :G= MRI>
=B:;>M>L BM BG<K>:L>L L>GLBMBOBMR MH BGLNEBG EHP>KL ;EHH= IK>LLNK> BFIKHO>L <AHE>LM>KHE E>O>EL
:G= =><K>:L>L ;H=R ?:M %G ?:<M LMN=B>L LAHP MA:M I>HIE> PAH >G@:@> BG K>@NE:K FH=>K:M> :>KH;B<
>Q>K<BL> >@ ;KBLD P:EDBG@ ;BDBG@ EHP>K MA>BK KBLD ?HK =B:;>M>L >O>G B? MA>R =H GHM EHL> P>B@AM
GRHG> HG BGLNEBG HK PAH A:L <HFIEB<:MBHGL ?KHF =B:;>M>L LAHNE= @>M :=OB<> ?KHF : IARLB<B:G
;>?HK>>F;:KDBG@HG:PHKDHNMIKH@K:F
:*2788-.68:A:.*<2>2<A
%G :==BMBHG MH D>>IBG@ RHNK A>:KM A>:EMAR A>EIBG@ PBMA P>B@AM EHLL :G= A>EIBG@ RHN EBO> EHG@>K
K>@NE:K >Q>K<BL> <:G :ELH BFIKHO> RHNK FHH= :G= A>EI D>>I =>IK>LLBHG :G= :GQB>MR :M ;:R 0A>
?HEEHPBG@OB=>H>QIE:BGLPAR:G=<A:EE>G@>LRHNMH@BO>BM:MKR
<5DH9FL9F7=G9 
)723= Exercise and the BrainExercise and the Brain
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
%? RHN LMBEE :K>GZM I>KLN:=>= <A><D HNM MABL LEB@AMER EHG@>K ;NM >Q<>EE>GM 0>=Q 0:ED PAB<A =>L<KB;>L
AHP:>KH;B<>Q>K<BL><:G BFIKHO>RHNK <H@GBMBO> ?NG<MBHGBG@F>FHKR:G=<K>:MBOBMR
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
)723= Exercise and the BrainExercise and the Brain*3<2G&CHC97'F"@:/<2=
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
1B7D7BG3D3:=>/<F3@17A3#@=5@/;
+3.,<2>.
V )@5B5F9;I@5F9L9F7=G9DFC;F5AH<5HKCF?G:CFMCI
2:.,<287;
V ,CA9H=A9G ;9HH=B; GH5FH98 =G H<9 <5F89GH D5FH C: 69=B; D<MG=75@@M 57H=J9 -<9 =ADCFH5BH H<=B; =G
HC XB8 57H=J=H=9G MCI @=?9 HC 8C GC MCIS@@ GH=7? K=H< H<9A 05H7< H<9 :C@@CK=B; J=89C K<=7< 75B
<9@D MCI IB89FGH5B8 <CK AI7< 57H=J=HM MCI B998 HC 8C CB 5 F9;I@5F 65G=G 5B8 <CK MCI 75B
;9H ;C=B; CB 5 G9BG=6@9 FCIH=B9 -<9 J=89C =B7@I89G D9FGCB5@ GHCF=9G :FCA D9CD@9Q9J9B 6IGM
D9CD@9@=?9MCIQK<C<5J98=G7CJ9F98 K<5HKCF?G:CFH<9A
V %=GHD<MG=75@57H=J=H=9GH<5HMCI9B>CM8C=B;CFKCI@8@=?9HCHFM8C=B;CB5F9;I@5F65G=G
<5DH9FL9F7=G9 
V \89BH=:M 5BM GD97=5@ F9EI=F9A9BHG CF 9EI=DA9BH MCI B998 69:CF9 8C=B; H<9A :CF 9L5AD@9
;MAA9A69FG<=DFIBB=B;G<C9G9H7
V ,9H 5 F95@=GH=7 K99?@M 9L9F7=G9 H=A9 ;C5@ :CF MCIFG9@:  A=BIH9G CF ACF9 D9F K99? =G =895@
6IHGH5FHK=H<K<5HMCI75BF95@@M 8C
V .G=B; 5 8=;=H5@ CF DF=BH98 75@9B85F D@5B 5B8 @569@ H<9 85MG C: H<9 K99? H=A9G 5B8 D@579G
H<5H MCI D@5B HC 9L9F7=G9 ,D97=:M H<9 57H=J=HM CF 57H=J=H=9G H<5H MCI =BH9B8 HC 8C  CF 9L5AD@9
&CB85M P 5A  A=B CB GH5H=CB5FM 6=?9 7C@@9;9 ;MA 098B9G85M P DA 
A=B GD998K5@?=B;K=H<&5M5+=J9FG=89)5F?,5HIF85MPDA@=:HK9=;<HG7C@@9;9;MA
V -F57? MCIF DFC;F9GG :CF CB9 K99? F97CF8=B; H<9 5ACIBH C: H=A9 MCI 57HI5@@M 9L9F7=G98 \: MCI
9B;5;98 =B 5BM IBD@5BB98 D<MG=75@ 57H=J=H=9G G5M MCI 9B898 ID F=8=B; MCIF 6=?9 HC G7<CC@
=BGH958C:H5?=B;H<96IG=B7@I89H<CG9HCC
V 0F=H9 56CIH MCIF 9LD9F=9B79 =B 5 G<CFH >CIFB5@ 9BHFM P D5;9G 5B8 F9Y97H CB K<5H MCI
@95FB98
0<5H?=B8GC:9L9F7=G98=8MCI9B;5;9=B5B8K<=7<8=8MCI9B>CMH<9ACGH
0<5HK5GMCIFK99?@MH=A9;C5@=8MCIA99H=H
0<5HKCF?98CF8=8BSHKCF?
0<5HA=;<HMCIB998HC7<5B;9=BCF89FHCA5?99L9F7=G95F9;I@5F<56=H
V C@@CKMCIF=BGHFI7HCFSG=BGHFI7H=CBG:CFGI6A=HH=B;5GG=;BA9BHG
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH(F=;=B5@
V L9F7=G9 #@=D72320G%IA9B%95FB=B; 713<A3  331)"43)/.(!1%,)+%
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2
@=79BG987CBH9BH,<5F98DF9J=CIG@M
V %=:9 ,?=@@G 9J9@CDA9BH #@=D7232 0G 0=?=8I75HCF =1/B32 /B
<HHDK=?=98I75HCFCF;%=:94,?=@@G49J9@CDA9BH.B=H4(B9
09@@B9GG45B84,9@:45F94 =HB9GG%9GGCB 713<A3    331)"43)/.
(!1%,)+%
@@F=;<HGF9G9FJ987CBH9BH
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
V )<MG=75@ 7H=J=HM !I=89@=B9G #@=D7232 0G 9BH9FG :CF =G95G9 CBHFC@ 5B8 )F9J9BH=CB
=1/B32 /B <HHDGMCIHI69@IH F5F8\ 713<A3 ,, )'(32 %2%15%$ 713<A3 '3@;A
,H5B85F82CI-I69@=79BG9
V L9F7=G9 5B8 H<9 F5=B #@=D7232 0G 05H7<09@@5GH =1/B32 /B <HHDGMCIHI69
A#0821)3C 713<A3 ,,)'(32%2%15%$ 713<A3'3@;A,H5B85F82CI-I69@=79BG9
V -L(F@5B8C P 09B8M ,INI?= P L9F7=G9 5B8 H<9 F5=B #@=D7232 0G -98L -5@?G
=1/B32 /B <HHDGMCIHI69%8B)2F+C 713<A3 ,, )'(32 %2%15%$ 713<A3
'3@;A,H5B85F82CI-I69@=79BG9
V )<MG=75@ 7H=J=HM !I=89@=B9G #@=D7232 0G 9BH9FG :CF =G95G9 CBHFC@ 5B8 )F9J9BH=CB
=1/B32 /B <HHDGMCIHI69E'8C(8/= 713<A3 ,, )'(32 %2%15%$ 713<A3
'3@;A,H5B85F82CI-I69@=79BG9
)I6@=78CA5=B7CBH9BH
V )<MG=75@ 7H=J=HM 5B8 "95@H< #@=D7232 0G 9BH9FG :CF =G95G9 CBHFC@ 5B8 )F9J9BH=CB
=1/B32 /B <HHDKKK787;CJB778D<DG;F=BHFC<HA 713<A3 4",)# /-!). /
./6./081)'(3
85DH=CBG+9ACJ98=A5;9 +9@C75H98@95FB=B;C6>97H=J9G
<5DH9FL9F7=G9 
<5DH9F,@99D
=!3)'4%-!+%2#/6!1$2/&42!,,>
P/=B79%CA65F8=
'633<3MBA=4&:C;03@
3> A:O> LH F:GR =>F:G=L HG HNK MBF>XL<AHHE CH;L ?:FBER >KK:G=L GHM MH F>GMBHG `G=BG@
LHF> MBF> MH K>E:Q 0H `M >O>KRMABG@ BG P> H?M>G L:<KB`<> LE>>I NM LE>>I :_><ML ;HMA F>GM:E :G=
IARLB<:EA>:EMA(BD>>Q>K<BL>:G=:A>:EMAR=B>MBMZLOBM:EMHRHNKP>EE;>BG@
+? <HNKL> LE>>I A>EIL RHN ?>>E K>LM>= >:<A =:R NM PABE> RHNZK> LE>>IBG@ RHNK ;K:BG :G= ;H=R
=HGZM CNLM LANM =HPG %GM>KG:E HK@:GL :G= IKH<>LL>L :K> A:K= :M PHKD MAKHN@AHNM MA> GB@AM /E>>I
<:G A>EIRHN[EH<DBG\>O>KRMABG@RHNZK>LMN=RBG@:G=MKRBG@MHK>F>F;>K
[/E>>I L>KOB<>L :EE :LI><ML H? HNK ;H=R BG HG> P:R HK :GHMA>K FHE><NE:K >G>K@R ;:E:G<> :L
P>EE :L BGM>EE><MN:E ?NG<MBHG :E>KMG>LL :G= FHH=\ L:RL K )>KKBEE )BME>K : LE>>I >QI>KM :G=
G>NKHL<B>GMBLM:MMA>*:MBHG:E%GLMBMNM>H?$>:EMA*%$
3A>G RHNZK> MBK>= RHN <:GZM ?NG<MBHG :M RHNK ;>LM /E>>I A>EIL RHN MABGD FHK> <E>:KER A:O>
JNB<D>K K>a>Q>L :G= ?H<NL ;>MM>K [0A> ?:<M BL PA>G P> EHHD :M P>EEK>LM>= I>HIE> MA>RZK>
HI>K:MBG@ :M : =B_>K>GM E>O>E MA:G I>HIE> MKRBG@ MH @>M ;R HG HG> HK MPH AHNKL E>LL GB@AMER LE>>I\
L:RL)BME>K
[(HLL H? LE>>I BFI:BKL RHNK AB@A>K E>O>EL H? K>:LHGBG@ IKH;E>FLHEOBG@ :G= :MM>GMBHG MH =>M:BE\
)BME>K >QIE:BGL 0BK>= I>HIE> M>G= MH ;> E>LL IKH=N<MBO> :M PHKD :G= L<AHHE 0A>RZK> :M : FN<A
AB@A>K KBLD ?HK MK:b< :<<B=>GML (:<D H? LE>>I :ELH BGaN>G<>L RHNK FHH= PAB<A <:G :_><M AHP
RHN BGM>K:<M PBMA HMA>KL LE>>I =>`<BM HO>K MBF> <:G >O>G INM RHN :M @K>:M>K KBLD ?HK =>O>EHIBG@
=>IK>LLBHG
NM LE>>I BLGZM CNLM >LL>GMB:E ?HK MA> ;K:BG [/E>>I :_><ML :EFHLM >O>KR MBLLN> BG HNK ;H=B>L\ L:RL
K )B<A:>E 0P>KR : LE>>I >QI>KM :M *%$ [%M :_><ML @KHPMA :G= LMK>LL AHKFHG>L HNK BFFNG>
LRLM>F:II>MBM>;K>:MABG@;EHH=IK>LLNK>:G=<:K=BHO:L<NE:KA>:EMA\
.>L>:K<A LAHPL MA:M E:<D H? LE>>I BG<K>:L>L MA> KBLD ?HK H;>LBMR A>:KM =BL>:L> :G= BG?><MBHGL
0AKHN@AHNM MA> GB@AM RHNK A>:KM K:M> ;K>:MABG@ K:M> :G= ;EHH= IK>LLNK> KBL> :G= ?:EE : IKH<>LL
MA:M F:R ;> BFIHKM:GM ?HK <:K=BHO:L<NE:K A>:EMA 5HNK ;H=R K>E>:L>L AHKFHG>L =NKBG@ LE>>I MA:M
A>EI K>I:BK <>EEL :G= <HGMKHE MA> ;H=RZL NL> H? >G>K@R 0A>L> AHKFHG> <A:G@>L <:G :_><M RHNK
;H=RP>B@AM
[+G@HBG@ K>L>:K<A LAHPL : E:<D H? LE>>I <:G IKH=N<> =B:;>MB<EBD> <HG=BMBHGL BG HMA>KPBL>
A>:EMARI>HIE>\L:RL)BME>K
.><>GM LMN=B>L :ELH K>O>:E MA:M LE>>I <:G :_><M MA> >b<B>G<R H? O:<<BG:MBHGL 0P>KR =>L<KB;>=
K>L>:K<A LAHPBG@ MA:M P>EEK>LM>= I>HIE> PAH K><>BO>= MA> aN O:<<BG> =>O>EHI>= LMKHG@>K
IKHM><MBHG:@:BGLMMA>BEEG>LL
@HH= GB@AMZL LE>>I <HGLBLML H? ?HNK MH `O> LE>>I <R<E>L !:<A <R<E> BG<EN=>L I>KBH=L H? =>>I
LE>>I :G= K:IB= >R> FHO>F>GM .!) LE>>I PA>G P> =K>:F [L MA> GB@AM @H>L HG MA> IHKMBHG
H? MA:M <R<E> MA:M BL BG .!) LE>>I BG<K>:L>L %M MNKGL HNM MA:M MABL I:MM>KG H? <R<EBG@ :G= IKH@K>LLBHG
BL<KBMB<:EMHMA>;BHEH@RH?LE>>I\0P>KRL:RL
/E>>I <:G ;> =BLKNIM>= ;R F:GR MABG@L /MBFNE:GML LN<A :L <:_>BG> HK <>KM:BG F>=B<:MBHGL <:G
D>>I RHN NI BLMK:<MBHGL LN<A :L >E><MKHGB<LX>LI><B:EER MA> EB@AM ?KHF 02L <>EE IAHG>L M:;E>ML
:G=>K>:=>KLX<:GIK>O>GMRHN?KHF?:EEBG@:LE>>I
/B75C3
%G   FBEEBHG @:EEHGL H? HBE P>K> LIBEE>= PA>G MA> !QQHG 2:E=>S K:G :@KHNG= [0A> *:MBHG:E
0K:GLIHKM:MBHG /:?>MR H:K= BGO>LMB@:MBHG :MMKB;NM>= MA> :<<B=>GM MH MA> ?:<M MA:M 70ABK= ):M>
#K>@HKR8 HNLBGL 7`EEBG@ BG ?HK MA> <:IM:BG8 A:= ;>>G :P:D> ?HK  AHNKL IKBHK MH M:DBG@ MA>
A>EF H? MA> 2:E=>S ?:BE>= MH YIKHI>KER F:G>NO>K MA> O>LL>E ;><:NL> H? MA> ?:MB@N> :G= >Q<>LLBO>
PHKDEH:=Z #BO>G PA:M L<B>G<> <:G M>EE NL :;HNM MA> =>E>M>KBHNL >_><ML H? LE>>I =>IKBO:MBHG HG
=><BLBHGF:DBG@ :E>KMG>LL :G= <HHK=BG:MBHG : <:L> <:G ;> F:=> MA:M A:= HNLBGL LBFIER E:BG
=HPG ?HK : ;KB>? LE>>I HG> H? MA> @K>:M>LM >GOBKHGF>GM:E <:M:LMKHIA>L BG K><>GM F>FHKR W :G=
;BEEBHG<HLM?HK<E>:GNIWFB@AMZO>;>>G:O>KM>=\
<
[":MB@N> A:L ;>>G <BM>= :L :M E>:LM : <HGMKB;NMBG@ ?:<MHK BG F:GR H? MA> PHKLM =BL:LM>KL BG K><>GM
ABLMHKR W MA> 1GBHG :K;B=> <A>FB<:E >QIEHLBHG MA:M DBEE>= MAHNL:G=L H? I>HIE> BG AHI:E %G=B:
:G=MA>GN<E>:K<:M:LMKHIA>:MA>KGH;REMHG:F>CNLMMPH\
=
K /:K: )>=GB<D BL : LE>>I K>L>:K<A>K :M 1 .BO>KLB=> K )>=GB<DZL 0>= 0:ED >GMBME>= [#BO>
BM 1I ?HK MA> HPG /M:M> W /E>>I /:K:A )>=GB<D :M 0! Q1./:EHG\ BL : K>LHNK<> ?HK FHK>
BG?HKF:MBHG
<3 !S6,!R3-)E$1SJ)14/R*SS6
=;;AK<;3
=3 !S6,!R3-)E$1SJ)14/R*SS6
=;;AK<=3
<5DH9F,@99D 
)723= Give it up for the down state – sleepGive it up for the down state – sleep&/@/ 32<719'F(%&/:=<
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
K)>=GB<DZL[NMAHKL#HH@E>/:K:)>=GB<D\OB=>HHGBL:EHG@>KE><MNK>HGLE>>I
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
)723= Take a Nap! Change Your LifeTake a Nap! Change Your Life&/@/ 32<719CB6=@A==5:3
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
%MZL =Bb<NEM MH =H :GRMABG@ P>EE PA>G P>ZK> MBK>= /MN=RBG@ BL =Bb<NEM <HG<>GMK:MBHG BL =Bb<NEM
PKBMBG@ BL =Bb<NEM :G= M:DBG@ :G >Q:F BL =Bb<NEM %MZL FN<A FHK> >b<B>GM MH @>M :=>JN:M> K>LM :G=
LMN=RPKBM>MABGD:G=I>K?HKFPA>GP>:K>K>LM>=
0ABL BL : EBGD MH :G :KMB<E> H? : *:MBHG:E ,N;EB< .:=BH BGM>KOB>P PBMA A:KE>L S>BLE>K MA>
=BK><MHK H? MA> BOBLBHG H? /E>>I )>=B<BG> :M $:KO:K= )>=B<:E /<AHHE 0ABL :KMB<E> :G BGM>KOB>P
PBMA S>BLE>K :G= /<HMM $N>MM>E :LLH<B:M> IKH?>LLHK H? ILR<AHEH@R :G= G>NKHL<B>G<> :M ND>
1GBO>KLBMR EBGDL F>=B: PBMA LE>>I BGM>KKNIMBHG 0A>L> :KMB<E>L <AKHGB<E> MA> ;>G>`ML H? @>MMBG@
:=>JN:M> LE>>I :G= <HGL>JN>G<>L H? GHM @>MMBG@ :=>JN:M> LE>>I :EHG@ PBMA JN>LMBHGL :G= :GLP>KL
?KHF MA> LE>>I LI><B:EBLML %MZL >:LR ?HK F> MH L:R MA:M RHN PBEE I>K?HKF ;>MM>K BG RHNK LMN=B>L B? RHN
:K>@>MMBG@>GHN@ALE>>I;NMA>K>BLLHF>IKHH??KHF>QI>KMLHGMA>O:EN>H?LE>>I
=E C16&:33>=*3!332
0A> :FHNGM H? LE>>I >:<A I>KLHG G>>=L =>I>G=L HG F:GR ?:<MHKL BG<EN=BG@ :@> :G= @>MMBG@ :
?NEE GB@AM H? 37#.+6; LE>>I BL BFIHKM:GM %G?:GML @>G>K:EER K>JNBK> :;HNM LBQM>>G AHNKL : =:R PABE>
M>>G:@>KL G>>= :;HNM GBG> AHNKL HG :O>K:@> "HK FHLM :=NEML L>O>G MH >B@AM AHNKL : GB@AM :II>:KL
<5DH9F,@99D 
MH ;> MA> ;>LM :FHNGM H? LE>>I 0A> :FHNGM H? LE>>I : I>KLHG G>>=L :ELH BG<K>:L>L B? A> HK LA> A:L
;>>G =>IKBO>= H? LE>>I BG IK>OBHNL =:RL #>MMBG@ MHH EBMME> LE>>I <K>:M>L : [LE>>I =>;M\ PAB<A BL :
EHM EBD> ;>BG@ HO>K=K:PG :M : ;:GD !O>GMN:EER RHNK ;H=R PBEE =>F:G= MA:M MA> =>;M ;> K>I:B= 3>
=HGZM L>>F MH :=:IM MH @>MMBG@ E>LL LE>>I MA:G P> G>>= PABE> P> F:R @>M NL>= MH : LE>>I=>IKBOBG@
L<A>=NE> HNK CN=@F>GM K>:<MBHG MBF> :G= HMA>K ?NG<MBHGL :K> LMBEE BFI:BK>= %? RHNZK> : LMN=>GM
MA:M F>:GL MA:M LE>>I=>IKBO:MBHG F:R IK>O>GM RHN ?KHF LMN=RBG@ E>:KGBG@ :G= I>K?HKFBG@ :L
P>EE:LRHN<:G
,>HIE> M>G= MH LE>>I FHK> EB@AMER :G= ?HK LAHKM>K MBF> LI:GL :L MA>R @>M HE=>K :EMAHN@A MA>R
@>G>K:EER G>>= :;HNM MA> L:F> :FHNGM H? LE>>I :L MA>R G>>=>= BG >:KER :=NEMAHH= !QI>KML L:R
MA:M B? RHN ?>>E =KHPLR =NKBG@ MA> =:R >O>G =NKBG@ ;HKBG@ :<MBOBMB>L RHN A:O>GZM A:= >GHN@A
LE>>I %? RHN KHNMBG>ER ?:EE :LE>>I PBMABG `O> FBGNM>L H? ERBG@ =HPG RHN IKH;:;ER A:O> L>O>K>
LE>>I =>IKBO:MBHG IHLLB;ER >O>G : LE>>I =BLHK=>K [)B<KHLE>>IL? HK O>KR ;KB>? >IBLH=>L H? LE>>I BG
:G HMA>KPBL> :P:D> I>KLHG :K> :GHMA>K F:KD H? LE>>I =>IKBO:MBHG %G F:GR <:L>L I>HIE> :K> GHM
:P:K> MA:M MA>R :K> >QI>KB>G<BG@ FB<KHLE>>IL 0A> PB=>LIK>:= IK:<MB<> H? [;NKGBG@ MA> <:G=E> :M
;HMA >G=L\ BG P>LM>KG BG=NLMKB:EBS>= LH<B>MB>L A:L <K>:M>= LH FN<A LE>>I =>IKBO:MBHG MA:M PA:M BL
K>:EER:;GHKF:ELE>>IBG>LLBLGHP:EFHLMMA>GHKF
):GR LMN=B>L F:D> BM <E>:K MA:M LE>>I =>IKBO:MBHG BL =:G@>KHNL /E>>I=>IKBO>= I>HIE> PAH :K>
M>LM>= ;R NLBG@ : =KBOBG@ LBFNE:MHK HK ;R I>K?HKFBG@ : A:G=>R> <HHK=BG:MBHG M:LD I>K?HKF :L
;:=ER :L HK PHKL> MA:G MAHL> PAH :K> BGMHQB<:M>= /E>>I =>IKBO:MBHG :ELH F:@GB`>L :E<HAHEZL >_><ML
HG MA> ;H=R LH : ?:MB@N>= I>KLHG PAH =KBGDL PBEE ;><HF> FN<A FHK> BFI:BK>= MA:G LHF>HG>
PAH BL P>EE K>LM>= KBO>K ?:MB@N> BL K>LIHGLB;E> ?HK :G >LMBF:M>=  FHMHK O>AB<E> :<<B=>GML
:G=  =>:MAL >:<A R>:K :<<HK=BG@ MH MA> *:MBHG:E $B@AP:R 0K:b< /:?>MR =FBGBLMK:MBHG
/BG<> =KHPLBG>LL BL MA> ;K:BGZL E:LM LM>I ;>?HK> ?:EEBG@ :LE>>I =KBOBG@ PABE> =KHPLR <:GX:G= H?M>G
=H>LXE>:= MH =BL:LM>K :_>BG> :G= HMA>K LMBFNE:GML <:GGHM HO>K<HF> MA> >_><ML H? L>O>K> LE>>I
=>IKBO:MBHG 0A> *:MBHG:E /E>>I "HNG=:MBHG L:RL MA:M B? RHN A:O> MKHN;E> D>>IBG@ RHNK >R>L
?H<NL>= B? RHN <:GZM LMHI R:PGBG@ HK B? RHN <:GZM K>F>F;>K =KBOBG@ MA> E:LM ?>P FBE>L RHN :K>
IKH;:;ERMHH=KHPLRMH=KBO>L:?>ER
1B7D7BGAA3AA,=C@&:33>/07BA
+3.,<2>.
V L5A=B9MCIF7IFF9BHG@99D<56=HG
2:.,<287;
V -5?95:9KA=BIH9GHCF9J=9K5B85GG9GGMCIFCKBG@99D<56=HGF9MCI;9HH=B;9BCI;<
6319B63/>>@=>@7/B30=F3A (AC/::G &=;3B7;3A !3D3@
\;9HP<CIFGC:G@99D5HB=;<H
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
6319B63/>>@=>@7/B30=F3A (AC/::G &=;3B7;3A !3D3@
\:99@G@99DMCF<5J9HFCI6@9:C7IG=B; 8IF=B;H<985M
\H5?95B5DK<9B\:99@8FCKGMCFB998ACF9G@99D
\:5@@5G@99DCF <5J9HFCI6@9GH5M=B;5K5?9=B7@5GG
\:5@@5G@99DK<=@9GHI8M=B;
\GH5MID5@@B=;<HHCGHI8M:CF9L5AGCFKF=H9D5D9FG
V -F57?<CKAI7<G@99DMCI;9H957<B=;<H 8IF=B;5CB9K99?D9F=C8
V H H<9 9B8 C: H<9 K99? KF=H9 5 G<CFH >CIFB5@ 9BHFM P D5;9G =B K<=7< MCI F9Y97H CB MCIF
7IFF9BH G@99D <56=HG "CK A5BM <CIFG C: G@99D 8C MCI H<=B? MCI B998 9J9FM B=;<H HC :IB7H=CB
5H MCIF 69GH "CK 75B MCI H9@@ (B 5B 5J9F5;9 <CK A5BM <CIFG C: G@99D 8=8 MCI ;9H CB
K99?B=;<HG(B5J9F5;9<CKA5BM<CIFGC:G@99D8=8MCI;9HCBK99?9B8B=;<HG
V "CK KCI@8 MCI F5B? H<9 =ADCFH5B79 C: G@99D 7CAD5F98 K=H< GHI8M=B; KCF?=B; GD9B8=B; H=A9
K=H< :F=9B8G:5A=@M 5B8 CH<9F 57H=J=H=9G 0<5H H<=B;G ;9H =B H<9 K5M C: MCIF 7CBG=GH9BH@M ;9HH=B;
9BCI;<G@99D
V 0<5H 7<5B;9G 75B MCI A5?9 HC MCIF G7<98I@9 5B8CF FCIH=B9G H<5H A=;<H =ADFCJ9 MCIF G@99D
<56=HG
V C@@CKMCIF=BGHFI7HCFSG;I=89@=B9G:CFGI6A=HH=B;5GG=;BA9BHG
/::7<5A:33>/<23BB7<5/==2!756BJA %3AB
):GR I>HIE> >LI><B:EER MAHL> PAH ?>>E LMK>LL>= :GQBHNL HK HO>KPHKD>= A:O> : A:K= MBF>
?:EEBG@ :LE>>I :G=HK LM:RBG@ :LE>>I :G= MABL <:G LAHKM>G MA> :FHNGM H? MBF> :G= MA> JN:EBMR H?
LE>>I PA>G BM :<MN:EER <HF>L 0A> ?HEEHPBG@ MBIL <:G A>EI RHN @>M MH LE>>I LM:R :LE>>I :G= P:D>
NI?>>EBG@P>EEK>LM>=
] Set a schedule #HMH;>=:M:L>MMBF>>:<AGB@AM:G=@>MNI:MMA>L:F>MBF>>:<AFHKGBG@
BLKNIMBG@MABLL<A>=NE>F:RE>:=MHBGLHFGB:[/E>>IBG@BG\HGP>>D>G=L:ELHF:D>LBMA:K=>K
MHP:D>NI>:KERHG)HG=:RFHKGBG@;><:NL>BMK>L>MLRHNKLE>>I<R<E>L?HK:E:M>K:P:D>GBG@
] Exercise 0KRMH>Q>K<BL> MH FBGNM>L:=:R :BER>Q>K<BL>H?M>GA>EILI>HIE>LE>>I
:EMAHN@A:PHKDHNMLHHG;>?HK>;>=MBF>F:RBGM>K?>K>PBMALE>>I"HKF:QBFNF;>G>`MMKR
MH@>MRHNK>Q>K<BL>:;HNMMHAHNKL;>?HK>@HBG@MH;>=
] Avoid caffeine, nicotine, and alcohol before bed OHB==KBGDLMA:M<HGM:BG<:_>BG>PAB<A
:<ML:L:LMBFNE:GM:G=D>>ILI>HIE>:P:D>/HNK<>LH?<:_>BG>BG<EN=><H_>><AH<HE:M>LH?M
=KBGDLGHGA>K;:EM>:L=B>M=KN@L:G=LHF>I:BGK>EB>O>KL/FHD>KLM>G=MHLE>>IO>KREB@AMER
:G=H?M>GP:D>NIBGMA>>:KERFHKGBG@=N>MHGB<HMBG>PBMA=K:P:EE<HAHEKH;LI>HIE>H?
=>>ILE>>I:G=.!)LE>>I:G=D>>ILMA>FBGMA>EB@AM>KLM:@>LH?LE>>I
<5DH9F,@99D 
] Relax before bed P:KF;:MAK>:=BG@HK:GHMA>KK>E:QBG@KHNMBG><:GF:D>BM>:LB>KMH?:EE
LE>>I%MZL:ELH:@HH=B=>:MHINM:P:R;HHDLAHF>PHKD:G=L<K>>GL<HFINM>K:G=IAHG>:M
E>:LMFBGNM>L;>?HK>;>=5HN<:GMK:BGRHNKL>E?MH:LLH<B:M><>KM:BGK>LM?NE:<MBOBMB>LPBMA
LE>>I:G=F:D>MA>FI:KMH?RHNK;>=MBF>KBMN:E
] Sleep until sunlight %?IHLLB;E>P:D>NIPBMAMA>LNGHKNL>O>KR;KB@AMEB@AMLBGMA>
FHKGBG@/NGEB@AMA>EILMA>;H=RZLBGM>KG:E;BHEH@B<:E<EH<DK>L>MBML>E?>:<A=:R/E>>I>QI>KML
K><HFF>G=>QIHLNK>MH:GAHNKH?FHKGBG@LNGEB@AM?HKI>HIE>A:OBG@IKH;E>FL?:EEBG@
:LE>>I
] Don’t lie in bed awake %?RHN<:GZM@>MMHLE>>I=HGZMCNLMEB>BG;>= HLHF>MABG@>EL>EBD>
K>:=BG@HKEBLM>GBG@MHFNLB<NGMBERHN?>>EMBK>=OHB==B@BM:EL<K>>GLMAHN@AP:M<ABG@
02:G=;>BG@HGMA> <HFINM>KHK:LF:KMIAHG> :K>MHHLMBFNE:MBG@:G=PBEE:<MN:EERF:D>
RHNFHK>:P:D>0A>:GQB>MRH?;>BG@NG:;E>MH?:EE:LE>>I<:G:<MN:EER<HGMKB;NM>MH
BGLHFGB:
] Control your room temperature ):BGM:BG:<HF?HKM:;E>M>FI>K:MNK>BGMA>;>=KHHF
!QMK>F>M>FI>K:MNK>LF:R=BLKNIMLE>>IHKIK>O>GMRHN?KHF?:EEBG@:LE>>I
] Screen out noise and light/E>>IPBMA>:KIEN@L:G=NL>:G>R>IBEEHPMH=KHPGHNM:GR
;KB@AMEB@AML:G=GHBL>H?EHN=KHHFF:M>L>M<
] See a doctor if your sleeping problem continues %?RHNA:O>MKHN;E>?:EEBG@:LE>>IGB@AM
:?M>KGB@AMHKB?RHN:EP:RL?>>EMBK>=MA>G>QM=:RMA>GRHNF:RA:O>:LE>>I=BLHK=>K:G=
LAHNE=L>>:IARLB<B:G5HNKIKBF:KR<:K>IARLB<B:GF:R;>:;E>MHA>EIRHNB?GHMRHN<:G
IKH;:;ER`G=:LE>>ILI><B:EBLM:M:F:CHKAHLIBM:EG>:KRHN)HLMLE>>I=BLHK=>KL<:G;>MK>:M>=
>_><MBO>ERLHRHN<:G`G:EER@>MMA:M@HH=GB@AMZLLE>>IRHNG>>=
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH(F=;=B5@
V ,@99D #@=D72320G%IA9B%95FB=B; 713<A3  331)"43)/.
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9
\B8=GD9BG56@9 ,HI8M ,?=@@G 5B8 -=A9 &5B5;9A9BH ,HF5H9;=9G 6M 5J9 =@@CB BCK @=79BG98
5G2
@=79BG987CBH9BH,<5F98DF9J=CIG@M
)I6@=78CA5=B7CBH9BH
V .B89FGH5B8=B; ,@99D -=DG #@=D7232 0G '5H=CB5@ \BGH=HIH9G C: "95@H< =1/B32 /B
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
<HHDKKKB=B8GB=<;CJ8=GCF89FG6F5=B465G=7GIB89FGH5B8=B;4G@99D<HA-=DG
713<A3 4",)#/-!)././6./081)'(3
V F5=B 5G=7G .B89FGH5B8=B; ,@99D =1/B32 /B <HHDKKKB=B8GB=<;CJ8=GCF89FG
6F5=B465G=7GIB89FGH5B8=B;4G@99D<HA 713<A3 4",)#/-!)././6./081)'(3
V -<9 9B9XHG C: ,@IA69F #@=D7232 0G '\" =1/B32 /B <HHDGB9KG=B<95@H<B=<;CJ
=GGI95DF:95HIF9 713<A3 4",)#/-!)././6./081)'(3
85DH=CBG\A5;9GF9ACJ98 +9@C75H98@95FB=B;C6>97H=J9G
<5DH9F,@99D 
<5DH9F,HF9GG
/CA3A=4 &B@3AA
L : LMN=>GM RHNZK> IKH;:;ER IE>GMR ?:FBEB:K PBMA MA> >QI>KB>G<> H? LMK>LLX: <HG=BMBHG
<A:K:<M>KBS>= ;R LRFIMHFL H? IARLB<:E HK >FHMBHG:E M>GLBHG 3A:M RHN F:R GHM DGHP BL MA:M
BMZL : G:MNK:E K>LIHGL> H? MA> FBG= :G= ;H=R MH : LBMN:MBHG BG PAB<A : I>KLHG ?>>EL MAK>:M>G>= HK
:GQBHNL /MK>LL <:G ;> IHLBMBO> >@ IK>I:KBG@ ?HK : P>==BG@ HK G>@:MBO> >@ =>:EBG@ PBMA :
G:MNK:E=BL:LM>K
/MK>LL <:G ABM RHN PA>G RHN E>:LM >QI><M BMX;>?HK> : M>LM :?M>K EHLBG@ : CH; HK =NKBG@ <HGaB<M BG
: K>E:MBHGLABI %? RHNZK> : <HEE>@> LMN=>GM BM F:R ?>>E EBD> LMK>LL BL : I>KLBLM>GM ?:<M H? EB?> 3ABE>
>O>KRHG> >QI>KB>G<>L LMK>LL :M MBF>L : IKHEHG@>= ;HNM H? BM <:G :_><M RHNK A>:EMA :G= :;BEBMR MH
<HI> PBMA EB?> 0A:MZL PAR LH<B:E LNIIHKM :G= L>E?<:K> :K> BFIHKM:GM 0A>R <:G A>EI RHN L>> RHNK
IKH;E>FLBGI>KLI><MBO>^:G=MA>LMK>LL?NE?>>EBG@L>:L>NI
/HF>MBF>L LMK>LL <:G ;> @HH= "HK BGLM:G<> BM <:G A>EI RHN =>O>EHI LDBEEL G>>=>= MH F:G:@>
IHM>GMB:EER <A:EE>G@BG@ HK MAK>:M>GBG@ LBMN:MBHGL BG EB?> $HP>O>K LMK>LL <:G ;> A:KF?NE PA>G BM BL
L>O>K>>GHN@AMHF:D>RHN?>>EHO>KPA>EF>= :G=HNMH?<HGMKHE
/MKHG@ >FHMBHGL EBD> ?>:K L:=G>LL HK HMA>K LRFIMHFL H? =>IK>LLBHG :K> GHKF:E :L EHG@ :L MA>R
:K> M>FIHK:KR :G= =HGZM BGM>K?>K> PBMA =:BER :<MBOBMB>L %? MA>L> >FHMBHGL E:LM MHH EHG@ HK <:NL>
HMA>KIKH;E>FLBMZL:=B_>K>GMLMHKR
&75<A /<2O31BA=4&B@3AA
,ARLB<:E HK >FHMBHG:E M>GLBHG :K> H?M>G LB@GL H? LMK>LL 0A>R <:G ;> K>:<MBHGL MH : LBMN:MBHG MA:M
<:NL>LRHNMH?>>EMAK>:M>G>=HK:GQBHNL0A>?HEEHPBG@:K>:EE<HFFHGLRFIMHFL H?LMK>LL
] BL;>EB>?:G=LAH<D
] 0>GLBHG:G=BKKBM:;BEBMR
] ">:K:G=:GQB>MR:;HNMMA>?NMNK>
] Bb<NEMRF:DBG@=><BLBHGL
] >BG@GNF;MHHG>ZL?>>EBG@L
] (HLLH?BGM>K>LMBGGHKF:E:<MBOBMB>L
] (HLLH?:II>MBM>HKBG<K>:L>=:II>MBM>
] *B@AMF:K>L:G=K><NKKBG@MAHN@AML:;HNMMA>>O>GM
] G@>K
] %G<K>:L>=NL>H?:E<HAHE:G==KN@L
] /:=G>LL:G=HMA>KLRFIMHFLH?=>IK>LLBHG
] ">>EBG@IHP>KE>LL
] KRBG@
] /E>>IIKH;E>FL
] $>:=:<A>L;:<DI:BGL:G=LMHF:<AIKH;E>FL
] 0KHN;E><HG<>GMK:MBG@
%MZL GHM HGER NGIE>:L:GM MH EBO> PBMA MA> M>GLBHG :G= LRFIMHFL H? HG@HBG@ LMK>LL BMZL :<MN:EER
A:KF?NE MH RHNK ;H=R MHH AKHGB< LMK>LL <:G BFI:BK RHNK BFFNG> LRLM>F :G= =BLKNIM :EFHLM :EE
H? RHNK ;H=RZL IKH<>LL>L E>:=BG@ MH BG<K>:L>= KBLD H? GNF>KHNL A>:EMA IKH;E>FL BG<EN=BG@ MA>
?HEEHPBG@
<
] GQB>MR
] >IK>LLBHG
] B@>LMBO>IKH;E>FL
] $>:KM=BL>:L>
] /E>>IIKH;E>FL
] 3>B@AM@:BG
] )>FHKR:G=<HG<>GMK:MBHGBFI:BKF>GM
0A:MZLPARBMZLLHBFIHKM:GMMHE>:KGA>:EMARP:RLH?<HIBG@PBMAMA>LMK>LLHKLBGRHNKEB?>
*/GA=4 /</57<5&B@3AA
0A>;>LMLMK:M>@R?HK F:G:@BG@LMK>LLBL;RM:DBG@<:K>H?RHNKL>E?BGMA>?HEEHPBG@P:RL
<3 !$SS3:4LL3RSS3LGSLGRRLSGLL
G=;;?A;>C$S,*1"+S3:J=;<AK3J""S=C6=;<DK
<5DH9F,HF9GG 
] Avoid drugs and alcohol. 0A>RF:RL>>FMH;>:M>FIHK:KR`QMH?>>E;>MM>K;NMBGMA>EHG@
KNGMA>R<:G<K>:M>FHK>IKH;E>FL:G=:==MHRHNKLMK>LLXBGLM>:=H?M:DBG@BM:P:R
] Manage your time. 3HKDHGIKBHKBMBSBG@:G=L<A>=NEBG@RHNK<HFFBMF>GML0ABL PBEEA>EI
RHN?>>EBG;>MM>K<HGMKHEH?RHNKEB?>PAB<ABGMNKGPBEEF>:GE>LLLMK>LL
] Find support. />>DA>EI?KHF:?KB>G=?:FBERF>F;>KI:KMG>K<HNGL>EHK=H<MHKHK<E>K@R
I>KLHG$:OBG@:LRFI:MA>MB<EBLM>GBG@>:K:G=M:EDBG@ :;HNMRHNKIKH;E>FL:G=LMK>LLK>:EER
<:GEB@AM>GMA>;NK=>G
] Connect socially. 3A>GRHN?>>ELMK>LL>=BMZL>:LRMHBLHE:M>RHNKL>E?0KRMHK>LBLMMABLBFINEL>
:G=LM:R<HGG><M>=):D>MBF>MH>GCHR;>BG@PBMA<E:LLF:M>L?KB>G=L:G=?:FBERMKRMH
L<A>=NE>LMN=R;K>:DLMA:MRHN<:GM:D>PBMAHMA>KI>HIE>
] Slow down and cut out distractions for a while0:D>:;K>:D?KHFRHNKIAHG>>F:BE:G=
LH<B:EF>=B:
] Take care of your health.
!:M:A>:EMARP>EE;:E:G<>==B>M
!Q>K<BL>K>@NE:KER
#>MIE>GMRH?LE>>I
0KR:K>E:Q:MBHGM><AGBJN>LN<A:LF>=BM:MBHGHKRH@:HKMK>:MRHNKL>E?MH:F:LL:@>
):BGM:BG:GHKF:EKHNMBG>
0A> ?HEEHPBG@ OB=>H ?>:MNK>L : IKH@K>LLBO> FNL<E> K>E:Q:MBHG F>=BM:MBHG ?HK RHN MH MKR 0A>K> :K>
F:GRF:GRHMA>KL:O:BE:;E>HG5HN0N;>:G=>EL>PA>K>
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
)723= Progressive Muscle Relaxation MeditationProgressive Muscle Relaxation Meditation
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
%? MA> L>E?<:K> M><AGBJN>L EBLM>= :;HO> :K>GZM >GHN@A :G= LMK>LL BL L>KBHNLER BGM>K?>KBG@ PBMA RHNK
LMN=B>L HK EB?> =HGZM ;> :?K:B= MH @>M A>EI 0A> LMN=>GM A>:EMA <>GM>K :G= <HEE>@> <HNGL>EHKL :K>
;HMA@HH=K>LHNK<>L
1B7D7BG%32C13,=C@&B@3AA3D3:
+3.,<2>.
V %=GH<95@H<MK5MGC:A5B5;=B; GHF9GGH<5HXHMCIF7IFF9BH@=:9GHM@9
2:.,<287;
V \89BH=:M 5H @95GH H<F99 H<=B;G MCI 7IFF9BH@M 8C HC 7CD9 K=H< GHF9GG H<5H 5F9BSH KCF?=B; CF
5F9BSH ;CC8:CFMCI
V \89BH=:M <95@H<M F9D@579A9BHG :CF 957< C: H<9A 5B8 KF=H9 MCIFG9@: 5 TGHF9GGF9@=9: DF9G7F=DH=CBU
<5DH9F,HF9GG 
H<5H MCI D@5B HC :C@@CK :CF CB9 K99? -FM HC =B7@I89 CB9 GHF9GG A5B5;9A9BH H97<B=EI9 HC
IG9 9J9FM 85M H H<9 9B8 C: H<9 K99? F9GDCB8 HC H<9 :C@@CK=B; DFCADHG =B 5 G<CFH F9Y97H=J9
9GG5M P D5;9G 0<=7< =B9[97H=J9 CF IB<95@H<M 7CD=B; GHF5H9;=9G 8=8 MCI G9H CIH HC 7<5B;9
5B8 K<M 0<=7< GHF9GGF9@=9: H97<B=EI9G 8=8 MCI HFM 8IF=B; H<9 K99? 09F9 5BM C: H<9A B9K
:CF MCI 0<=7< CB9G K9F9 ACGH 9[97H=J9 "CK AI7< 8C MCI H<=B? GHF9GG 5[97HG MCI =B MCIF
7IFF9BH @=:9 5H 7C@@9;9 C MCI :99@ @=?9 MCI <5J9 =H IB89F 7CBHFC@ CF BCH \: BCH K<5H 9@G9 A=;<H
MCI8CHCF98I79 MCIFGHF9GG@9J9@
V C@@CKMCIF=BGHFI7HCFSG;I=89@=B9G:CFGI6A=HH=B;5GG=;BA9BHG
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH(F=;=B5@
V ,HF9GG #@=D72320G%IA9B%95FB=B; 713<A3  331)"43)/.
@@F=;<HGF9G9FJ987CBH9BH
V )FC;F9GG=J9 &IG7@9 +9@5L5H=CB &98=H5H=CB #@=D7232 0G .'" "95@H< ,9FJ=79G =1/B32
/B <HHDGMCIHI69)2GIJ+'3:L 713<A3 ,, )'(32 %2%15%$ 713<A3 '3@;A
,H5B85F82CI-I69@=79BG9
V &5B5;=B; ,HF9GG #@=D7232 0G  =1/B32 /B <HHDKKK787;CJ:95HIF9G
<5B8@=B;GHF9GG 713<A3 4",)#/-!)././6./081)'(3
85DH=CBG+9ACJ98EICH95B8=A5;9G +9@C75H98@95FB=B;C6>97H=J9G
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
<5DH9F0CF8GC:0=G8CA 5=@IF9\G'CH
5B(DH=CB
Nathan Wallace
%G MA> FHOB> IHEEH  != $:KKBL IHKMK:RL */ aB@AM =BK><MHK #>G> 'K:GS :L A> LN<<>LL?NEER
@NB=>L MA> <K>P H? : =:F:@>= LI:<><K:?M MH L:?>MR %G : ?:FHNL L<>G> =NKBG@ PAB<A 'K:GS :G= ABL
LM:_ :K> :MM>FIMBG@ MH HO>K<HF> LHF> >QMK>F>ER =:NGMBG@ <A:EE>G@>L $:KKBL LAHNML [":BENK> BL
GHM :G HIMBHG\ 0ABL LBG@NE:K LM:M>F>GM I>K?><MER :KMB<NE:M>= MA> =>M>KFBG:MBHG H? 'K:GS MH ;KBG@
MA>IHEEH:LMKHG:NML;:<DMH!:KMA
0ABL [?:BENK> BL GHM :G HIMBHG\ <K>=H P:L I>K?><M ?HK MA> EB?> :G= =>:MA LBMN:MBHG MA:M */
P:L ?:<BG@ ":BENK> F>:GM MA:M MA> :LMKHG:NML HG IHEEH  PHNE= G>O>K <HF> AHF> :G= MA:M
HNM<HF> P:L NG:<<>IM:;E> MM>G=BG@ <HEE>@> HG MA> HMA>K A:G= LAHNE=GZM ;> : EB?> HK =>:MA
>QI>KB>G<> MAHN@A BM LHF>MBF>L FB@AM ?>>E EBD> HG> ":BENK> MAHN@A G>O>K MA> BGM>G=>= HNM<HF>
<:G :G= LHF>MBF>L =H>L A:II>G /HF>MBF>L ?:BENK> F:GB?>LML BML>E? BG >E><MBHG K>LNEML ?HK : LMN=>GM
@HO>KGF>GMIHLMBG:M>LML<HK>HK>O>GBG:`G:E@K:=>
0AKHN@AHNM FR EB?> % A:O> A:= F:GR ?:BENK>L %G AB@A L<AHHE % =KHO> FR I:K>GML :G= M>:<A>KL
<K:SR ;><:NL> H? FR E:<D H? :<:=>FB< :<AB>O>F>GM % >O>G F:G:@>= MH @>M :G " BG /I:GBLA HG
FR K>IHKM <:K= 3A>G % MHE= FR FHF MA:M BM P:L : MRIH LA> K>LIHG=>= [/H RHN =B=GZM @>M :G "\
[*H\ % L:B= [% =>`GBM>ER >:KG>= MA> " ;NM MA>K>ZL GH LN<A MABG@ :L :G "\ 0H MABL =:R %ZF GHM LH
LNK>MA:MFRK>IERP:L:<<NK:M>%FB@AMA:O>>:KG>=MA:MFBGNL:?M>K:EE
)R ?:BENK>L BG AB@A L<AHHE E>= MH HGER HG> :<<>IM:G<> ?KHF H? :EE MA> <HEE>@>L % :IIEB>= MH :MM>G=
"NKMA>KFHK> % P:L GHM :<<>IM>= MH MA> L<AHHEZL F:BG <:FINL ;NM MH MA>BK ;K:G<A <:FINL NKBG@
FR `KLM L>F>LM>K MA>K> FR >_HKM P:LGZM FN<A ;>MM>K MA:G BG AB@A L<AHHE ;NM LBG<> FR I:K>GML
P>K> GHP I:RBG@ ?HK FR >=N<:MBHG % =B= >GHN@A PHKD MH :OHB= :<:=>FB< IKH;:MBHG %M P:LGZM
NGMBE FR L><HG= L>F>LM>K MA:M % ?HNG= FR GB<A> :L : .>EB@BHNL /MN=B>L F:CHK :G= LM:KM>= @>MMBG@
@HH=@K:=>LFHO>=MHMA>F:BG<:FINL:G=>O>GMN:EER@K:=N:M>=PBMAAHGHKL
/BG<> @K:=N:MBG@ ?KHF <HEE>@> FR <:K>>K I:MA A:L M:D>G F> BGMH AB@A>K >=N<:MBHG :L : /MN=>GM
_:BKL :=FBGBLMK:MHK 0ABL <:K>>K A:L >QIHL>= F> MH F:GR @K>:M MA>HKB>L K>@:K=BG@ LMN=>GM
LN<<>LL :G= F:GR H? MA>F @:O> F> BGLB@AM BGMH FR HPG <HEE>@> >QI>KB>G<> NM BM P:L /M:G?HK=
ILR<AHEH@BLM :KHE P><D PAH :II>:K>= MH ;> MABGDBG@ H? F> PA>G LA> PKHM> MA> ?HEEHPBG@
:;HNM `Q>= FBG=L>ML BG MA> BGMKH=N<MBHG MH A>K ;HHD MBME>= +0&5'6 *' '9 5;%*1.1); 1( 7%%'55
>EB>OBG@ MA:M RHNK JN:EBMB>L :K> <:KO>= BG LMHG>XMA> `Q>= FBG=L>MX<K>:M>L :G NK@>G<R MH
IKHO> RHNKL>E? HO>K :G= HO>K %? RHN A:O> HGER : <>KM:BG :FHNGM H? BGM>EEB@>G<> : <>KM:BG
I>KLHG:EBMR :G= : <>KM:BG FHK:E <A:K:<M>KXP>EE MA>G RHNZ= ;>MM>K IKHO> MA:M RHN A:O> : A>:EMAR
=HL> H? MA>F %M LBFIER PHNE=GZM =H MH EHHD HK ?>>E =>`<B>GM BG MA>L> FHLM ;:LB< <A:K:<M>KBLMB<L
 P><D
0ABL LM:M>F>GM P:L : K>O>E:MBHG MH F> % `G:EER NG=>KLMHH= FR IKH;E>F MAKHN@AHNM AB@A L<AHHE
:G= >O>G BG <HEE>@> % >:KG>= @HH= @K:=>L ;><:NL> % EBD>= .>EB@BHNL /MN=B>L ;NM G>O>K K>:EER
<A:EE>G@>= FRL>E? BGLB=> HK HNMLB=> H? MA> <E:LLKHHF )R IKH;E>F P:L MA:M % A:= : `Q>= FBG=L>M
:;HNM :<:=>FB< LN<<>LL % ;>EB>O>= MA:M : I>KLHG BL >BMA>K LF:KM HK MA>RZK> GHM :G= GHMABG@ <HNE=
;> =HG> MH LB@GB`<:GMER <A:G@> MA:M % :ELH ;>EB>O>= MA:M % P:L HG> H? MA> ?HKMNG:M> HG>L MH ;>
[@B?M>=\PBMA:G:;NG=:G<>H?BGM>EEB@>G<>
+G> FB@AM MABGD MA:M A:OBG@ <HG`=>G<> BG RHNK BGM>EEB@>G<> BL : PAHE> EHM ;>MM>K MA:G MABGDBG@
MA:M RHNZK> LMNIB= ;NM MA> K>LNEM P:L MA> L:F> )R `Q>= FBG=L>M P:L AHE=BG@ F> ;:<D ;><:NL>
BM E>= MH : I:K:ERSBG@ ?>:K H? ?:BENK> /BG<> :L ?:K ;:<D :L % <HNE= K>F>F;>K FR ?:FBER ?KB>G=L
:G= M>:<A>KL P>K> :EP:RL M>EEBG@ F> AHP LF:KM % P:L :G= % ;>EB>O>= MA>F NM MA:M ;>EB>? P:L
: =HN;E>>=@>= LPHK= $B@A L<AHHE :G= <HEE>@> H_>K>= F:GR H<<:LBHGL PA>G L>E?<HG`=>G<> BG
FR BGA>K>GM BGM>EEB@>G<> <HNE= ;> MAK>:M>G>= %? % ?:BE HG MABL M>LM HK BG MABL <HNKL> BM F>:GL MA:M %ZF
GHM MA> LF:KM I>KLHG % MAHN@AM % P:L %? % ?:BE FR ?:FBER :G= ?KB>G=L PBEE `G= HNM MA:M MA>R P>K>
PKHG@:;HNMF>
$HP>O>K MA>K> P:L : P:R MH :OHB= :EE H? MA> KBLDL H? :<:=>FB< KB@HK % <HNE= CNLM GHM MKR %? %
=B=GZM MKR % PHNE= @>M ;:= F:KDL HG FR K>IHKM <:K= ;NM MAHL> PHNE=GZM ;> MKN> BG=B<:MHKL H? FR
BGM>EEB@>G<> R GHM INMMBG@ ?HKMA :GR >_HKM FR BGM>EEB@>G<> PHNE= G>O>K ;> =BLIKHO>G % PHNE=
:EP:RL ;> :;E> MH L:R MH FRL>E? :G= HMA>KL MA:M [% <HNE= =H MA> PHKD :G= ;> : LMK:B@AM LMN=>GM
;NM %ZF CNLM GHM BGM>K>LM>=\ (HHDBG@ ;:<D HG MABL MBF> BG FR EB?> BM BL <E>:K MH F> MA:M MABL P:LGZM
:<HGL<BHNL=><BLBHGMHL:O>?:<>%MP:L?>:KGHMEH@B<PAB<AP:L@NB=BG@FR;>A:OBHK
?M>K K>:=BG@ +0&5'6 % A:O> F:=> : <HGL<BHNL >_HKM MH B=>GMB?R :G= MAP:KM :GR K>F:BGBG@ `Q>=
FBG=L>M MAHN@AML MA:M % <HGMBGN> MH AHE= P><DZL ;HHD :<ML :L : F:GN:E ?HK KHHMBG@ HNM `Q>=
FBG=L>M MAHN@AML ;><:NL> LA> >QIE:BGL MA:M MA> B=>: H? `Q>= FBG=L>ML BL HGER A:E? H? A>K FBG=L>M
MA>HKR 0A>K> BL :GHMA>K DBG= H? FBG=L>M :G= LA> <:EEL BM @KHPMA FBG=L>M P><D PKBM>L MA:M
[0ABL @KHPMA FBG=L>M BL ;:L>= HG MA> ;>EB>? MA:M RHNK ;:LB< JN:EBMB>L :K> MABG@L RHN <:G <NEMBO:M>
MAKHN@A RHNK >_HKML\  P><D  P><D @H>L HG MH >QIE:BG MA:M P> <:G <AHHL> MH A:O> :
@KHPMA FBG=L>M :;HNM :GR MRI> H? :;BEBMR PA>MA>K BMZL F:MA :KM :MAE>MB<L HK :GR HMA>K LDBEE MA:M
HG>PBLA>LMH<NEMBO:M>
% INM MABL MA>HKR MH MA> M>LM GHM EHG@ :?M>K K>:=BG@ MA> ;HHD ?>P R>:KL :@H % :MM>G=>= :
F>>MBG@ HGER MH `G= HNM MA:M BM P:LGZM :GR HK=BG:KR F>>MBG@ NKBG@ MABL F>>MBG@ P> PHNE= ;>
;K:BGLMHKFBG@ LHENMBHGL MH : LI><B`< IKH;E>F 0ABL P:L @HBG@ MH ;> : MKN> ;K:BGLMHKFBG@ L>LLBHG
E>= ;R : ?:<BEBM:MHK MK:BG>= BG MA> L<B>G<> H? LHEB<BMBG@ NGBGAB;BM>= B=>:L ?KHF :G :N=B>G<> L LHHG
:L % A>:K= MA> PHK= $4#+05614/+0) % ?KHS> % A:O> :EP:RL A:M>= ;K:BGLMHKFBG@ %ZF MA> MRI> H? I>KLHG
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
MA:M EBD>L MH MABGD MABG@L MAKHN@A MPH HK MAK>> MBF>L ;>?HK> >QIK>LLBG@ :G HIBGBHG )R ?>:K H?
?:BEBG@:MMABLM:LDBG?KHGMH?FR<HPHKD>KLI:K:ERS>=FRFBG=%<HNE=GZMMABGD
0A:MZL PA>G BM ABM F> 0ABL P:L `Q>= FBG=L>M MABGDBG@ )R ;>EB>? BG FR ;K:BGLMHKFBG@
BG:=>JN:<B>L P:L IK>O>GMBG@ F> ?KHF >O>G MKRBG@ /H % aBII>= MABL MABGDBG@ HG BML A>:= :G=
=><B=>= MA> ;>LM P:R MH BFIKHO> FR ;K:BGLMHKFBG@ :;BEBMB>L P:L MH <E>:K FR FBG= :G= LM:KM `KBG@
HNM B=>:L % @:O> BM : LAHM :G= MAHN@A MA> B=>:L =B=GZM <HF> HNM :M MA> IKHEB`< K:M> H? LHF> H? FR
<HEE>:@N>L % A:= G>O>K ;>?HK> A:= LN<A : IHLBMBO> HNM<HF> :G= >QI>KB>G<> PABE> ;K:BGLMHKFBG@
0AKHN@A MABL >QI>KB>G<> % ?HNG= MA:M % K>:EER <HNE= <AHHL> MH A:O> : @KHPMA FBG=L>M :G= MA:M
MABL <AHB<> IKH=N<>L : @K>:M>K <A:G<> H? LN<<>LL 3BMA : @K>:M>K <A:G<> H? LN<<>LL <HF>L : LF:EE>K
<A:G<>H??:BENK>
*>O>KMA>E>LL PA>G BM <HF>L MH :<:=>FB< LN<<>LL :G= LN<<>LL BG :EE IA:L>L H? EB?> ?:BENK> BL :EP:RL
:G HIMBHG 0AHN@A BM <:G ;> I:BG?NE ?:BENK> <:G E>:= MH @K>:M E>:KGBG@ :G= IKH@K>LL PA>G : LI><B`<
?:BENK> BL :G:ERS>= MAKHN@A MA> E>GL H? : @KHPMA FBG=L>M R ?H<NLBG@ FHK> HG >_HKM MA:G HG
HNM<HF>L :GRHG> <:G E>:KG :G= @KHP K>@:K=E>LL H? MA>BK LDBEE E>O>E 0A>K>?HK> MH F:D> MA> FHLM
H? MA>BK MBF> BG <HEE>@> LMN=>GML FNLM L>>D HNM <A:EE>G@>L MA:M PBEE LMK>M<A MA>BK :;BEBMB>L 0A>L>
<A:EE>G@>L <:G M:D> F:GR ?HKFL :G= MA>R <:G H<<NK BG : O:KB>MR H? L>MMBG@L ;HMA BGLB=> :G= HNMLB=>
H? MA> <E:LLKHHF 3A>G L>>DBG@ HNM <A:EE>G@>L MA>K> BL :EP:RL MA> IHLLB;BEBMR H? :@HGBSBG@ =>?>:M
;NMHNMH?MA:M=>?>:M<:G;>MA>L>>=LH?@K>:MLN<<>LLBGMA>?NMNK>
"./.:.7,.
P><D +0&5'6*'0'925;%*1.1);1(57%%'55 *>P5HKD:EE:GMBG>HHDL
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH,<5F98DF9J=CIG@M
CIB85H=CBG C: 7589A=7 ,I779GG 0CF8G C: 0=G8CA 8=H98 6M -<CA5G )F=9GH9F GG5M 5IH<CF98 6M
'5H<5B05@@579%=79BG92HHF=6IH=CB
<5DH9F0CF8GC:0=G8CA 5=@IF9\G'CH5B(DH=CB 
(<7B=<1:CA7=<
<5DH9F CIB85H=CBGC:7589A=7
,I779GG0CF8GC:0=G8CACB7@IG=CB
%G MA> M>QM MA> :NMAHKL MHE= MKN>MHEB?> LMHKB>L :;HNM MA>BK HPG :<:=>FB< I>KLHG:E :G= EB?><:K>>K
LN<<>LL>L3A>GK>:=BG@ !1!RHN>QIEHK>=MA>?HEEHPBG@@NB=BG@JN>LMBHGL
] $HP=HRHN=>FHGLMK:M><HEE>@>K>:=BG>LLMAKHN@AMA>NL>H?>_><MBO>LMN=RLDBEEL:G=<:FINL
K>LHNK<>L
] $HP=HRHN:IIER;:LB<M><AGHEH@B<:E:G=BG?HKF:MBHGF:G:@>F>GMLDBEEL?HK:<:=>FB<:G=
EB?>EHG@<:K>>K=>O>EHIF>GM
] $HP=HRHN=>FHGLMK:M>MA>NL>H?<KBMB<:E:G=<K>:MBO>MABGDBG@LDBEELMHLHEO>IKH;E>FL:G=
=K:P<HG<ENLBHGL
] $HP=HRHN=>FHGLMK:M>;:LB<:P:K>G>LLH?L>E?BG<HGG><MBHGPBMA:<:=>FB<:G=I>KLHG:E
@H:EL
] $HP=HRHNB=>GMB?R:G==>FHGLMK:M>DGHPE>=@>H?MA>BFIEB<:MBHGLH?<AHB<>LK>E:M>=MH
P>EEG>LL
] $HP=HRHN=>FHGLMK:M>;:LB<DGHPE>=@>H?<NEMNK:E=BO>KLBMR
*HP MA:M RHNZO> K>:=  !1! BMZL MBF> MH I:R BM ?HKP:K= ;R <HFIHLBG@ RHNK HPG !14&5 1(
!+5&1/ LMHKR MH LA:K> PBMA <HEE>@> LMN=>GML H? MA> ?NMNK> .>a><M HG MA> E>LLHGL E>:KG>= =NKBG@
RHNK HPG <HEE>@> >QI>KB>G<> MABL M>KF :G= NL> MA> @NB=BG@ JN>LMBHGL MH =>O>EHI : MKN>MHEB?>
LMHKR MA:M <:G A>EI HMA>K <HEE>@> LMN=>GML <HGG><M MA> =HML ;>MP>>G ;>BG@ : <HEE>@> LMN=>GM :G=
;>BG@ : 57%%'55(7. <HEE>@> LMN=>GM /N;FBM RHNK LMHKR MH ;> <HGLB=>K>= BG MA> G>QM >=BMBHG H?
170&#6+105 1( %#&'/+% 7%%'55 !14&5 1( !+5&1/ ;R >F:BEBG@ RHNK G:F> BGLMBMNMBHG :G= : =K:?M
H? RHNK LAHKM LMHKR MH HI>GLNGR?:L@F:BE<HF /N;FBLLBHGL PBEE ;> K>OB>P>= :L MA>R :K> K><>BO>=
:G=RHNPBEE;><HGM:<M>==BK><MERB?RHNKLN;FBLLBHGBLK>OB>P>=:G=L>E><M>=?HKIN;EB<:MBHG
0A> HIMBHGL ?HK M>QM;HHDL ?H<NLBG@ HG <HEE>@> LMN=>GM LN<<>LL BG <HEE>@> :K> HO>KPA>EFBG@
F:GR M>QM;HHDL >QBLM :M O:KRBG@ E>O>EL H? KB@HK :G= <HLM LHF> P>EE HO>K  0A>  !1!
L>KB>L H? M>QM;HHDL IKHOB=>L <HEE>@> LMN=>GML HI>G :<<>LL M>QM;HHDL MA:M :K> LMN=>GM<>GM>K>= :G=
K>:=:;E> =:K> % >O>G L:R >GCHR:;E>  !1! LNIIHKML MA> HI>G :<<>LL M>QM;HHD IABEHLHIAR MH
A>EILMN=>GMLK>=N<>MA><HLMH?:MM>G=BG@<HEE>@>L:G=NGBO>KLBMB>L
W0AHF:L,KB>LM>K
713<A3A/<2BB@70CB7=<A
@=79BG987CBH9BH,<5F98DF9J=CIG@M
CIB85H=CBGC:7589A=7,I779GG0CF8GC:0=G8CA8=H986M-<CA5G)F=9GH9F
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
<5DH9FCB7@IG=CB
T,I779GG=G5>CIFB9MBCH589GH=B5H=CBU
P+5@D<F6=H9@@9
0A:GD RHN ?HK K>:=BG@ MABL +!. M>QM;HHD % AHI> RHN A:= : IHLBMBO> >QI>KB>G<> 5HNK MAHN@AML
B=>:L LN@@>LMBHGL :G= <KBMB<BLFL :K> O:EN:;E> ?HK ?NMNK> K>OBLBHGL :G= BFIKHO>F>GML % >G<HNK:@>
RHN MH E>M F> DGHP B? RHN :K> `G=BG@ LN<<>LL :<<HFIEBLABG@ RHNK @H:EL HK >O>G B? RHN :K>
LMKN@@EBG@ % D>>I : EBLM H? LMN=>GML PAH E>M F> DGHP MA>R :K> @K:=N:MBG@ %M BL BFIHKM:GM MH F>
%? RHN A:O> MA> I:LLBHG =BL<NLL>= BG MA> `KLM <A:IM>K RHN <:G `G= : P:R MH =H BM G= PA>G :EE
MA> A:K= PHKD MBF> >G>K@R :G= >_HKM I:RL H_ BM LAHNE= ;> : IKHN= :<<HFIEBLAF>GM ,K>OBHNL
LMN=>GML A:O> <HGMKB;NM>= MH MABL M>QM;HHD ;R LA:KBG@ =>LB@G :G= <HGM>GM B=>:L %? RHN A:O>
<HFF>GML LN@@>LMBHGL JN>LMBHGL <KBMB<BLFL HK K>a><MBHGL :;HNM MABL M>QM;HHD % PHNE= :IIK><B:M>
A>:KBG@?KHFRHN ;EN>IKBGM?HKLN<<>LLBG<HEE>@>@F:BE<HF
/:/<13
/MN=>GML H?M>G :LD F> PA:M % MABGD MA>R LAHNE= =H <AB>OBG@ :G= F:BGM:BGBG@ ;:E:G<> BL I>KA:IL
MA> FHLM BFIHKM:GM :=OB<> % <:G @BO> :G= BM BLGZM >:LR MH :<<HFIEBLA !:<A LMN=>GM A:L : ;:E:G<>
?HK BFIHKM:GM MABG@L BG MA>BK EBO>L MA:M BL =B_>K>GM ?KHF HMA>K LMN=>GML 0A>K> BL GH KB@AM HK PKHG@
MA>K> ;NM % L>> : EHM H? LMN=>GML PAH :K> GHM ;:E:G<>= :G= BM F:D>L :<:=>FB< LN<<>LL <A:EE>G@BG@
%MF:RM:D>MBF>MH:<AB>O>;>MM>K;:E:G<>;NMBMZLPHKMAMA>BGO>LMF>GM
#3@A7AB3<13
0AHF:L !=BLHG BL P>EE DGHPG ?HK BGO>GMBG@ MA> >E><MKB< EB@AM ;NE; NM F:GR I>HIE> :K> GHM :P:K>
H? AHP F:GR MBF>L A> ?:BE>= BG MKRBG@ MH =H LH !=BLHG F:=> : GHM> H? PA:M A> A:= =HG> :G=
PA:M <HFIHG>GML A> NL>= >:<A MBF> A> F:=> :G :MM>FIM $> PHNE= F:D> :G :=CNLMF>GM :G= MKR
:@:BG 3A>G MA> :=CNLMF>GM =B=GZM PHKD A> PHNE= F:D> : GHM> H? MA:M K>:=CNLM :G= MKR :@:BG
!=BLHG E>:KG>= ?KHF >O>KR >QI>KBF>GM $> E>:KG>= :EE MA> P:RL MA:M BM PHNE= GHM PHKD ?M>K
:IIKHQBF:M>ER  ?:BE>= >QI>KBF>GML !=BLHG MA>G LN<<>LL?NEER BGO>GM>= MA> >E><MKB< EB@AM ;NE;
T\<5J9BCH:5=@98\SJ9>IGH:CIB8K5MGH<5HKCBSHKCF?U
P-<CA5G8=GCB
KBMBLA BGO>GMHK /BK &:F>L RLHG P>EE DGHPG ?HK <K>:MBG@ MA> ;:@E>LL O:<NNF <E>:G>K MHHD 
R>:KL:G=IKHMHMRI>LMH[@>MBMKB@AM\
=/3().').3(%6/1,$#!.3!+%3(%0,!#%/&%12)23%.#%!,%.36),,./3./3().')2-/1%#/--/.3(!.
4.24##%22&4,-%.6)3(3!,%.3%.)426),,./34.1%6!1$%$'%.)42)2!,-/23!01/5%1"$4#!3)/.6),,./3
3(%6/1,$)2&4,,/&%$4#!3%$$%1%,)#32%12)23%.#%!.$$%3%1-).!3)/.!,/.%!1%/-.)0/3%.3(%2,/'!.
;1%22.<(!22/,5%$!.$!,6!826),,2/,5%3(%01/",%-2/&3(%(4-!.1!#%>
P5@J=BCC@=8;9
> I>KLBLM>GM 5HN PBEE >G<HNGM>K LBMN:MBHGL PA>K> RHN PBEE P:GM MH @BO> NI 5HN <:G HO>K<HF>
MA>H;LM:<E>L:G=<A:EE>G@>LB?RHN:K>I>KLBLM>GM
'3/;E=@9
)R ?KB>G= /A>KBG> !;:=B IE:R>= HG : 1 /:G B>@H OHEE>R;:EE M>:F MA:M PHG : *:MBHG:E
A:FIBHGLABI /A> @:O> : LI>><A :M MA> :P:K= ;:GJN>M MA:M K>F:BGL HG> H? MA> FHLM BGLIBK:MBHG:E
LI>><A>L % A:O> A>:K= :G= HG> MA:M LMBEE @BO>L F> <ABEEL PA>G % K>K>:= /A> =>L<KB;>= M>:FPHKD :L [:
<HFIE>M> =>GB:E H? L>E?BGM>K>LM BG=BOB=N:E LM:MBLMB<L :G= I>KLHG:E @EHKR :EE BG >Q<A:G@> ?HK F:DBG@
RHNK M>:FF:M> EHHD @HH= >O>G PA>G MA>R =HGZM :G= ;> LN<<>LL?NE >O>G PA>G MA>RZK> GHM %MZL
F:DBG@ LNK> LA> DGHPL MA:M LA>ZL G>O>K `@AMBG@ :EHG> MA:M LA>ZL GHM F>K>ER :G BG=BOB=N:E F>F;>K
H?:M>:F;NMK:MA>K:G>LL>GMB:E<HFIHG>GMMH:NGB`>=PAHE>PHKDBG@MHP:K=:<HFFHG@H:E\
5HN PBEE GHM ;> :;E> MH :<<HFIEBLA LHF> H? RHNK ;B@@>LM @H:EL ;R RHNKL>E? 5HN PBEE G>>=
LNIIHKM ;>ABG= RHN :G= MA> L>E><MBHG H? RHNK LNIIHKM M>:F BL BFIHKM:GM % >GLNK>= MA:M %
LNKKHNG=>= FRL>E? ;R I>HIE> PAH P>K> BGM>K>LM>= BG LNIIHKMBG@ F> :G= FR @H:EL % :ELH
NG=>KLMHH= MA:M ;>BG@ : @HH= M>:FF:M> F>:GM LNIIHKMBG@ FR ?KB>G=LZ :G= ?:FBER F>F;>KLZ @H:EL
:LP>EE
 @I9DF=BH,HI8M,?=@@G5B8-=A9&5B5;9A9BH
"B63@2D713
):D> @HH= =><BLBHGL )HK> BFIHKM:GM MA:G F:DBG@ @HH= =><BLBHGL MAHN@A BL E>:KGBG@ ?KHF
=><BLBHGLMA:M:K>F:=>:G=MA>IHLBMBO>:G=G>@:MBO>K>LNEML:G=<HGL>JN>G<>LH?MAHL>=><BLBHGL
%? :M :EE IHLLB;E> ;> HIMBFBLMB< 0ABL F:R GHM A>EI RHN PBMA LMN=RBG@ ;NM BM BL :G >GCHR:;E> P:R
MH @H MAKHN@A EB?> 0A>K> PBEE ;> MBF>L PA>K> RHNK :MMBMN=> :G= HNMEHHD PBEE K>a><M HG RHN :G=
F:R<K>:M>HIIHKMNGBMB>L?HKRHNKL>E?0:D>:=O:GM:@>H?MAHL>HIIHKMNGBMB>L
:=A7<5
%M BL FR LBG<>K> AHI> MA:M RHN PBEE A:O> ?HNG= BG?HKF:MBHG BG MABL M>QM;HHD A>EI?NE % PBLA RHN
:<:=>FB<LN<<>LL:G=:G>GCHR:;E>CHNKG>RMHK>:<ARHNK@H:EL
W :O> BEEHG
713<A3A/<2BB@70CB7=<A
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2
85DH=CBG88987CBH9BH5J9=@@CB
<5DH9FCB7@IG=CB 
DD9B8=L(F=;=B5@0CF?G
C+@'4'06 1#& 1 1..')' 7+&' 14 4#05+6+10+0) 1 1..')' 14 1064#&+6+10#. 67&'065 ;R
EBL> (:FHK>:NQ BL EB<>GL>= NG=>K : K>:MBO> HFFHGL MMKB;NMBHG  %GM>KG:MBHG:E (B<>GL>
5>Q<>IMPA>K>HMA>KPBL>GHM>= AMMILHI>GHK>@HGIK>LL;HHDLIN;<HEE>@>MK:GLBMBHG
,>>K.>OB>P
AMMILHI>GNFG>=NHI>GM>QM;HHDLHHD >M:BE:LIQ;HHD%=
1..')' 7%%'55 NMAHK>= ;R (BG=: KN<> ,KHOB=>= ;R (NF>G (>:KGBG@ (H<:M>=
:M AMMIL<HNKL>LENF>GE>:KGBG@<HF<HEE>@>LN<<>LLENF>G (B<>GL> 5 >Q<>IM HMA>KPBL>
GHM>= EB<D MA> PHK=L [(B<>GL>L :G= MMKB;NMBHGL\ :M MA> ;HMMHF H? >:<A I:@> ?HK <HIRKB@AM :G=
EB<>GLBG@BG?HKF:MBHGLI><B`<MHMA>F:M>KB:EHGMA:MI:@>
170&#6+1051(%#&'/+%7%%'55!14&51(!+5&1/ 0AHF:L,KB>LM>K
AMMIM>QM;HHDLHI>GLNGRHK@?HNG=:MBHGLH?:<:=>FB<LN<<>LL (B<>GL>5
,>>K.>OB>P
AMMILHI>GNFG>=NHI>GM>QM;HHDLHHD >M:BE:LIQ;HHD%=
19 61 '#40 +-' # 41 ;R ,AREEBL *BLLBE: (B<>GL> 0ABL PHKD BL EB<>GL>= NG=>K MA> K>:MBO>
HFFHGL MMKB;NMBHG  %GM>KG:MBHG:E (B<>GL> 5 0H OB>P : <HIR H? MABL EB<>GL> OBLBM
AMMI<K>:MBO><HFFHGLHK@EB<>GL>L;R
AMMILHI>GHK>@HGIK>LL;HHDLIN;<HEE>@>K>:=BG@
,>>K.>OB>P
AMMILHI>GNFG>=NHI>GM>QM;HHDLHHD >M:BE:LIQ;HHD%=
.7'24+06 (14 7%%'55 +0 1..')' 0&+52'05#$.' 67&; -+..5 #0& +/' #0#)'/'06 64#6')+'5 LM
>=BMBHG <HGM:BGL <HIRKB@AM>= BG?HKF:MBHG :G= MANL GH EBGD BL IKHOB=>= 0ABL BL MA> L><HG= >=BMBHG
O5
DD9B8=L&I@H=A98=5%=B?G
MULTIMEDIA:
,E>:L> GHM> MA:M :EE OB=>HL :K> <:IMBHG>= ;NM MA>K> F:R ;> EBFBM:MBHGL =>I>G=BG@ HG MA> =>OB<>
RHN:K>NLBG@MH:<<>LLMA>=B@BM:EM>QM
,K>?:<>
/:GM:G:HEE>@>+!./MN=>GM,:G>E+I>G!=
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
A:IM>K
HGZM&NLM"HEEHP5HNK,:LLBHG0:ED?HK#>G>K:MBHG5!NGB<>$BB:M0! Q0>KKR0:EDL
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
 DD9B8=L&I@H=A98=5%=B?G
'>G.H;BGLHG H/<AHHEL'BEEK>:MBOBMR :M0! 
 - 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
DD9B8=L&I@H=A98=5%=B?G 
A:IM>K
/F:LA">:K(>:KGGRMABG@0BF">KKBLL:M0! 
 - 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
 DD9B8=L&I@H=A98=5%=B?G
A:IM>K
/N<<>LLBGMA>*>P!<HGHFR
/=A9C 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
DD9B8=L&I@H=A98=5%=B?G 
0BF>):G:@>F>GM.:G=R,:NL<A
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
 DD9B8=L&I@H=A98=5%=B?G
A:IM>K
%GLB=>MA>)BG=H?:):LM>K,KH<K:LMBG:MHK0BF1K;:G0! 0:ED
 - 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
DD9B8=L&I@H=A98=5%=B?G 
$HPMH#:BGHGMKHEH?5HNK"K>>0BF>(:NK:2:G=>KD:F0! 0:ED
 - 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
 DD9B8=L&I@H=A98=5%=B?G
A:IM>K
3:RLMH(BLM>G>MM>K&NEB:G0K>:LNK>:M0! #EH;:E
 - 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
DD9B8=L&I@H=A98=5%=B?G 
A:IM>K
/>E><MBO>MM>GMBHG0>LM :GB>E/BFFHGL
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
 DD9B8=L&I@H=A98=5%=B?G
A:IM>K
,ARLB<:E<MBOBMR#NB=>EBG>LW%GMKH=N<MBHG
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
DD9B8=L&I@H=A98=5%=B?G 
!Q>K<BL>:G=MA>K:BG
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
 DD9B8=L&I@H=A98=5%=B?G
!Q>K<BL>:G=MA>K:BG3>G=R/NSNDB0! +KE:G=H
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
DD9B8=L&I@H=A98=5%=B?G 
A:IM>K
#BO>BMNI?HKMA>=HPGLM:M>WLE>>I/:K:)>=GB<D0! Q1./:EHG
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
 DD9B8=L&I@H=A98=5%=B?G
0:D>:*:IA:G@>5HNK(B?>/:K:)>=GB<DNMAHKL#HH@E>
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
DD9B8=L&I@H=A98=5%=B?G 
A:IM>K
,KH@K>LLBO>)NL<E>.>E:Q:MBHG)>=BM:MBHG
2CI-I69 9@9A9BH <5G 699B 9L7@I898 :FCA H<=G J9FG=CB C: H<9 H9LH 2CI 75B J=9K =H CB@=B9 <9F9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BHD
 DD9B8=L&I@H=A98=5%=B?G
DD9B8=L,HI8M,?=@@GGG9GGA9BH
0A> 1GBO>KLBMR H? $HNLMHGE>:K (:D> A:L :G :LL>LLF>GM JN>LMBHGG:BK> ?HK /MN=R /DBEEL :G=
0BF> ):G:@>F>GM MA:M LMN=>GML BG FR <E:LL>L NL> MH @:N@> MA>BK :;BEBMB>L 5HN F:R M:D> MAHL>
:LL>LLF>GML A>K> AMMILPPPNA<E>=N<HNGL>EBG@L>KOB<>LK>LHNK<>L=H<NF>GMLA:G=HNML
LMN=RLDBEEL:LL>LLF>GMJN>LMBHGG:BK>I=?
DD9B8=L+97CAA9B898+958=B;5B8
/=9K=B;
".,866.7-.-".*-270
EEBLHG $HLB>K :KRE NEEBL >;HK:A >KGG:K= #K>@ H;BLA %KBG: $HE=>G &>GG: $><D>K
0HK (HG>R :G= 0KN=B &:<H;LHG 0A> %G?HKF:MBHG (BM>K:<R 1L>KL #NB=> /1*5 +!. 
AMMILM>QM;HHDLHI>GLNGRHK@MA>BG?HKF:MBHGEBM>K:<RNL>KL@NB=>:GHI>GHGEBG>M>QM;HHD
HEE>L.B<A:K=*3A:MHEHK%L5HNK,:K:<ANM>>KD>E>R0>G/I>>=,K>LL
HO>R/M>IA>G."BKLM0ABG@L"BKLM*>P5HKD/BFHG/<ANLM>K
S>BLE>K A:KE>L :G= ):KR (HNBL> '>EER )HLM *B@AM /AB?M 3HKD>KL HGZM =:IM 0H 0A> $HNKL
*,.
S>BLE>K A:KE>L /<HMM $N>MM>E :G= &H> ,:E<: 02 G= /F:KM ,AHG>L ):R $:FI>K #HH=
*B@AMZL/E>>I*,.
#E:=P>EE ):E<HEF :OB= :G= #HEB:MA 1G=>K=H@L )BL`ML :G= MA> KM H? :MMEBG@ #B:GML *>P
5HKD(BMME>KHPG:G=HFI:GR
#E:=P>EE):E<HEF+NMEB>KL*>P5HKD(BMME>KHPG:G=HFI:GR
&HAGLHG /I>G<>K 3AH )HO>= )R A>>L> G F:SBG@ 3:R MH >:E PBMA A:G@> BG 3HKD
:G=BG5HNK(B?>*>P5HKD#,,NMG:FZL/HGL
0P>G@> &>:G ) :G= 3 '>BMA :FI;>EE 0A> *:K<BLLBLF !IB=>FB< (BOBG@ BG MA> @> H?
!GMBME>F>GM*>P5HKDMKB:,:I>K;:<D
0P>G@> &>:G ) #>G>K:MBHG )> 3AR 0H=:RZL 5HNG@ F>KB<:GL K> )HK> HG`=>GM
LL>KMBO>!GMBME>=X:G=)HK>)BL>K:;E>0A:G!O>K>?HK>*>P5HKD"K>>,K>LL
3>LM>KBG@"KHLMR):D>MA>B@0BF>3A>K>5HNK>B@"BO>,KH=N<MBHGL
".,866.7-.-&2-.8;
(BGDE:M>K.B<A:K=[":LM"HH=*:MBHG\"HQ/>:K<AEB@AM
/INKEH<D)HK@:G[/NI>KLBS>)>\ H<NF>GM:KR
713<A3A/<2BB@70CB7=<
CBH9BH DF9J=CIG@M 7CDMF=;<H98 DI6@=G<98 =B @I9DF=BH :CF ,I779GG =B C@@9;9 \B8=GD9BG56@9 ,HI8M
,?=@@G5B8-=A9&5B5;9A9BH,HF5H9;=9G6M5J9=@@CBBCK@=79BG985G2
DD9B8=L+97CAA9B898+958=B;5B8/=9K=B; 
DD9B8=L+9GCIF79G:CF8I75HCFG
.>LHNK<>L :G= A>EI?NE @NB=>L ?HK BGLMKN<MHKL >=N<:MHKL HI>G >=N<:MBHG >GMANLB:LML :NMAHKL
>=BMHKL<NK:MHKL:G=?NMNK>=HPGLMK>:FNL>KL
,K>LL;HHDL?HK! 1#NB=>;R6H>3:D>$R=>
AMMIL>=N@NB=>IK>LL;HHDL<HF
0>QM;HHD+I>GNMAHKBG@#NB=>;R (:NKB>LHIA:G=F:G=:HHEB=@>
AMMILHI>GM>QM;<<:HI>GM>QM;HHD
 +I>G 0>QM;HHD <<>LLB;BEBMR 0HHEDBM ;R F:G=: HHEB=@> /N> HG>K :G= 0:K:
.H;>KMLHG
AMMILHI>GM>QM;<<::<<>LLB;BEBMRMHHEDBM
0A>+K:G@>#KHO>HF;BGBG@+I>GER(B<>GL>=.>LHNK<>L
AMMIPPPHI>G:<<>LLM>QM;HHDLHK@OB=>HAMFE
0A>+K:G@>#KHO>"EHKB=:ZL+!..>IHLBMHKR
AMMILPPPaHKB=:LABG>LHK@HK:G@>@KHO>
+I>G<<>LL0>QM;HHD,KHC><M
AMMIPPPHI>G:<<>LLM>QM;HHDLHK@FH=>EBG=>QAMFE
+I>G!=N<:MBHGHGLHKMBNFW%G?HKF:MBHG>GM>K
AMMIPPPH><HGLHKMBNFHK@BG?H<>GM>K
/9FG=CB"=GHCFM
0ABL I:@> IKHOB=>L : K><HK= H? >=BML :G= <A:G@>L F:=> MH MABL ;HHD LBG<> BML BGBMB:E IN;EB<:MBHG
3A>G>O>K >=BML HK NI=:M>L :K> F:=> BG MA> M>QM P> IKHOB=> : K><HK= :G= =>L<KBIMBHG H? MAHL>
<A:G@>L A>K> %? MA> <A:G@> BL FBGHK MA> O>KLBHG GNF;>K BG<K>:L>L ;R  %? MA> >=BML BGOHEO>
LN;LM:GMB:ENI=:M>LMA>O>KLBHGGNF;>KBG<K>:L>LMHMA>G>QM?NEEGNF;>K
0A> `E>L IHLM>= :EHG@LB=> MABL ;HHD :EP:RL K>a><M MA> FHLM K><>GM O>KLBHG %? RHN `G= :G >KKHK
BGMABL;HHDIE>:L>E>MNLDGHPBGMA> .>;NLHFFNGBMR?HKNF
)3@A7=< /B3 6/<53
O31B32*30
#/53

DF=@

\AD@9A9BH98)99F+9J=9K779GG=6=@=HM+9J=9K5B8,HI89BH+9J=9K:998657? 8898!@CGG5FM
/9FG=CB"=GHCFM5B8779GG=6=@=HMGG9GGA9BH
BH=F9H9LH
779GG=6=@=HMGG9GGA9BH
<=B34@=;B63%30CA=;;C<7BG
3> :K> PHKDBG@ MH <K>:M> : G>P <HEE:;HK:MBO> FH=>E ?HK IN;EBLABG@ HI>G M>QM;HHDL KBMB<:E MH
HNK LN<<>LL BG K>:<ABG@ MABL @H:E BL MH >GLNK> MA:M :EE ;HHDL IKH=N<>= NLBG@ MA:M FH=>E F>>M MA>
G>>=L H? :EE LMN=>GML PAH PBEE HG> =:R NL> MA>F 0H NL HI>G F>:GL BG<ENLBO> LH ?HK : ;HHD MH ;>
HI>GBMFNLM:ELH;>:<<>LLB;E>
L : K>LNEM P> :K> PHKDBG@ PBMA :<<>LLB;BEBMR >QI>KML :G= HMA>KL BG MA> +!. <HFFNGBMR MH
=>O>EHI ;>LM IK:<MB<>L ?HK <K>:MBG@ :<<>LLB;E> HI>G M>QM;HHDL :G= :K> ;NBE=BG@ MAHL> IK:<MB<>L BGMH
MA> .>;NL FH=>E H? IN;EBLABG@ R =HBG@ MABL P> AHI> MH >GLNK> MA:M :EE ;HHDL IKH=N<>= NLBG@
MA> .>;NL HFFNGBMR :K> :<<>LLB;E> ;R =>?:NEM :G= K>JNBK> :G :;LHENM> FBGBFNF H? K>F>=B:MBHG
HK:=:IM:MBHGMHF>>M:GRBG=BOB=N:ELMN=>GMZLG>>=L
3ABE> P> PHKD HG =>O>EHIBG@ @NB=>EBG>L :G= BFIE>F>GMBG@ LNIIHKM ?HK :NMAHKBG@ :<<>LLB;E>
<HGM>GM P> :K> F:DBG@ : @HH= ?:BMA >_HKM MH >GLNK> MA:M ;HHDL IKH=N<>= PBMA HNK LNIIHKM F>>M
:<<>LLB;BEBMR LM:G=:K=L PA>K>O>K IHLLB;E> :G= MH AB@AEB@AM :K>:L PA>K> P> DGHP MA>K> BL PHKD MH
=H %M BL HNK AHI> MA:M ;R ;>BG@ MK:GLI:K>GM HG HNK <NKK>GM ;HHDL P> <:G ;>@BG MA> IKH<>LL H?
F:DBG@ LNK> :<<>LLB;BEBMR BL MHI H? FBG= ?HK :EE :NMAHKL :=HIM>KL LMN=>GML :G= <HGMKB;NMHKL H? :EE
DBG=LHG:EEHNKHI>GM>QM;HHDIKHC><ML
>EHP BL : LAHKM :LL>LLF>GM H? >B@AM D>R :K>:L MA:M A:O> ;>>G :LL>LL>= =NKBG@ MA> IKH=N<MBHG
IKH<>LL 0A> <A><DEBLM A:L ;>>G =K:PG ?KHF MA> <:FINL <<>LLB;BEBMR 0HHEDBM 3ABE> : <A><DEBLM
LN<A :L MABL BL CNLM HG> I:KM H? : AHEBLMB< :IIKH:<A MH :<<>LLB;BEBMR BM BL HG> P:R MH ;>@BG HNK PHKD
HG>F;>==>=@HH=:<<>LLB;BEBMRIK:<MB<>LBGMA>;HHDLP>LNIIHKM
3A>K>O>K IHLLB;E> P> A:O> B=>GMB`>= P:RL BG PAB<A :GRHG> F:R <HGMKB;NM> MA>BK >QI>KMBL> MH
BFIKHO>MA>:<<>LLB;BEBMRH?MABLM>QM
3> :ELH P>E<HF> :GR ?>>=;:<D ?KHF LMN=>GML BGLMKN<MHKL HK HMA>KL PAH >G<HNGM>K MA> ;HHD
:G= B=>GMB?R :G BLLN> MA:M G>>=L K>LHEOBG@ 0ABL ;HHD BL :G HG@HBG@ IKHC><M :G= PBEE ;> NI=:M>=
:L G>>=>= %? RHN PHNE= EBD> MH LN;FBM : <HKK><MBHG HK LN@@>LMBHG IE>:L> =H LH NLBG@ MA> .>;NL
HFFNGBMR<<>LLB;BEBMR/N@@>LMBHGL ?HKF
*300==96319:7AB
Area of
focus
Requirements Pass?
(F;5B=N=B;
CBH9BH
CBH9BHG=GCF;5B=N98IB89F<958=B;G5B8GI6<958=B;G 29G
"958=B;G5B8GI6<958=B;G5F9IG98G9EI9BH=5@@M9;"958=B;<958=B;9H75GK9@@5G
@C;=75@@M=:H<9H=H@9=G"958=B;H<9BH<9F9G<CI@869BCCH<9F<958=B;GHM@9G5GH<9H=H@9
=GH<9IDD9FACGH@9J9@
29G
\A5;9G
\A5;9GH<5H7CBJ9M=B:CFA5H=CB=B7@I89@H9FB5H=J9-9LH5@HH9LH89G7F=DH=CBGC:H<9=A5;9SG
7CBH9BHCF:IB7H=CB
29G
!F5D<G<5FHG5B8&5DG5@GC=B7@I897CBH9LHI5@CFGIDDCFH=B;89H5=@G=BH<9H9LH
GIFFCIB8=B;H<9=A5;9
29G
\A5;9G8CBCHF9@MCB7C@CIFHC7CBJ9M=B:CFA5H=CB 'C
\A5;9GH<5H5F9DIF9@M897CF5H=J97CBH5=B9ADHM5@H9FB5H=J9H9LH89G7F=DH=CBG9G7F=DH=J9
H9LH=GIBB979GG5FM=:H<9=A5;98C9GBSH7CBJ9M7CBH9LHI5@7CBH9BH=B:CFA5H=CB
29G
-56@9G -56@9G=B7@I89FCK5B87C@IAB<9589FG 'C
-56@9=B7@I89GH=H@9CF75DH=CB 'C
-56@98C9GBCH<5J9A9F;98CFGD@=H79@@G 29G
-56@9<5G589EI5H979@@D588=B; 29G
096@=B?G
-<9K96@=B?=GA95B=B;:I@=B7CBH9LH8C9GBCHIG9;9B9F=7H9LHGI7<5GT7@=7?<9F9UCFTF958
ACF9U
29G
096@=B?G8CBCHCD9BB9KK=B8CKGCFH56G 29G
\:K96@=B?AIGHCD9B=B5B9KK=B8CK5H9LHI5@F9:9F9B79=G=B7@I898=BH<9@=B?=B:CFA5H=CB B5
A698898
&I@H=A98=5
HF5BG7F=DH<5G699BA5895J5=@56@9:CF5AI@H=A98=5F9GCIF79H<5H=B7@I89G5I8=C
B5FF5H=CBCF=BGHFI7H=CB
B5
5DH=CBGC:5@@GD997<7CBH9BH5B8F9@9J5BHBCBGD997<7CBH9BH5F9=B7@I898=BH<9
AI@H=A98=5F9GCIF79H<5H=B7@I89G5I8=CGMB7<FCB=N98K=H<5J=89CDF9G9BH5H=CB
B5
I8=C89G7F=DH=CBGC:7CBH9LHI5@J=GI5@G;F5D<G7<5FHG9H75F9=B7@I898=BH<9AI@H=A98=5
F9GCIF79
B5
CFAI@5G CFAI@5G<5J9699B7F95H98IG=B;&5H<&% B5
CFAI@5G5F9=A5;9GK=H<5@H9FB5H=J9H9LH89G7F=DH=CBG=:&5H<&%=GBCH5BCDH=CB B5
CBH,=N9 CBHG=N9=GDC=BHDH9A=BH<=G6CC?CF<=;<9F:CF6C8MH9LH 29G
CBHG=N9=GDC=BH DH9A=BH<=G6CC?:CF:CCHBCH9GCF9B8BCH9G 29G
CBHG=N975B69NCCA98HC 29G
0K:GL<KBIMBG<EN=>L
] /I>:D>KZLG:F>
] EELI>><A<HGM>GM
] .>E>O:GM=>L<KBIMBHGLH?LI>><A
779GG=6=@=HMGG9GGA9BH 
] >L<KBIMBHGLH?K>E>O:GMGHGLI>><A:N=BH
] $>:=BG@L:G=LN;A>:=BG@L
 779GG=6=@=HMGG9GGA9BH
!@CGG5FM
'3@; 3M<7B7=< &=C@13
7589A=7295F
-<95BBI5@D9F=C88IF=B;
K<=7<5GHI89BH5HH9B8G
G7<CC@7C@@9;9CF
IB=J9FG=HM
<HHDG9BK=?H=CB5FMCF;K=?=57589A=74M95F
7H=J9%=GH9B=B;
T-<9DFC79GGC:5HH9B8=B;
75F9:I@@MHCK<5H5
GD95?9F=GG5M=B;
=BJC@J=B;GI7<H97<B=EI9G
5G577IF5H9@M
D5F5D<F5G=B;H<9
GD95?9FSGF9A5F?GU
<HHDG9BK=?H=CB5FMCF;K=?=57H=J94@=GH9B=B;
7H=J9+958=B;
BCH9H5?=B;G?=@@HC<9@D
5GHI89BH:C7IGCBH<9
A5H9F=5@5B86956@9HC
F9:9F657?HCBCH9GA589
K<=@9F958=B;
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FH<9
65G=7GC:GHI8MG?=@@G
8A=GG=CB
+9:9FGHCGHI89BH
5779DH5B79=BHC7C@@9;9
&5M5@GCF9:9FHC
5779DH5B79=BHC5GD97=X7
57589A=7DFC;F5ACFHC
H<97C@@9;9SG89D5FHA9BH
H<5H<5B8@9G5DD@=75H=CBG
@@=H9F5H=CB
-<9F9D9H=H=CBC:
7CBGCB5BHG5HH<9
69;=BB=B;C:HKCCFACF9
KCF8G=AA98=5H9@M
GI77998=B;957<CH<9FCF
5HG<CFH=BH9FJ5@G
<HHDG9BK=?H=CB5FMCF;K=?=5@@=H9F5H=CB
BGK9F$9MG
@=GHC:5BGK9FGHCH9GH
EI9GH=CBG@=GH98
H<FCI;<CIHH<96CC?
7<5DH9FG
BL=9HM=GCF89FG
&9BH5@8=GCF89FGH<5H
75IG9D9CD@9HCF9GDCB8
HC79FH5=BC6>97HGCF
G=HI5H=CBGK=H<:95F5B8
8F958
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
A9BH5@<95@H<
I8=H
7CIFG9H<5H5GHI89BH
5HH9B8G6IH8C9GBCH
F979=J95;F589\H75B69
IG98HC9LD@CF95B9K
GI6>97HCFA5>CF
L=G=B:CFA5H=CB
/9FH=75@5B8<CF=NCBH5@
=B:CFA5H=CBCB5;F5D<\H
5@GCF9:9FGHCH<9R1S5B8
R2S85H5
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
;9HH=B;H<9ACGHCIHC:MCIFH9LH6CC?G
57?&5HH9F
,=A=@5FHC:FCBHA5HH9F
H<=G=GH<9@5GHG97H=CBC:
H<96CC?K<=7<A5M
=B7@I895B9D=@C;I9
5DD9B8=L;@CGG5FM
6=6@=C;F5D<M5BGK9F
?9MG CF=B89L
<HHDG9BK=?=D98=5CF;K=?=CC?489G=;B
 !@CGG5FM
@CG9+958=B;
T-<975F9:I@GIGH5=B98
=BH9FDF9H5H=CBC:56F=9:
D5GG5;9C:5H9LH7@CG9
F958=B;9AD<5G=N9GH<9
G=B;@95B8H<9D5FH=7I@5F
CJ9FH<9;9B9F5@5[97H98
6M7@CG95HH9BH=CBHC
=B8=J=8I5@KCF8GH<9
GMBH5L5B8H<9CF89F=B
K<=7<H<9G9BH9B79G
IB:C@8=895G5GH<9
F9589FG75BGH<9@=B9C:
H9LHU
<HHDG9BK=?=D98=5CF;K=?=@CG94F958=B;
CF9EI=G=H9
CIFG9GH<5H5F9F9EI=F98
HC69H5?9B5HH<9G5A9
H=A9
C;B=H=J9
9J9@CDA9BH
CBGHFI7H=CBC:CB9SG
H<CI;<HDFC79GG
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7CADF9<9B8=B;7C@@9;9@9J9@F958=B;6MIG=B;H<9
F958=B;5DDF9BH=79G<=D5DDFC57<
=::353/<2
/@33@%3/27<3AA
DC=BHK<9B5GHI89BH
<5G;5=B98H<9B979GG5FM
?BCK@98;9G?=@@G5B8
DFC:9GG=CB5@69<5J=CFGHC
57<=9J957C@@9;989;F99
CF79FH=X75H975F99F
HF5=B=B;CFC6H5=B5
DFC:9GG=CB5@>C6
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FH<9
6=;D=7HIF9
C@@9;95H5@C;
BCB@=B9CFDF=BH75H5@C;
H<5H7CBH5=BG=B:CFA5H=CB
CB89;F99DFC;F5AG5B8
G7<CC@FI@9G5HH<97C@@9;9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7<CCG=B;57C@@9;9HC5HH9B8
C@@9;9%9J9@CIFG9
-<98=[9F9BH7CIFG9
BIA69F89G=;B5H=CBG5G5
K<C@9 CF9L5AD@9
@9J9@CF@9J9@
7CIFG9G
!@CGG5FM 
=::353%3/27<3AA
,HI89BHGK<C5F9
DF9D5F98:CFH<9
KCF?@C585B889A5B8G
C:7C@@9;9+958=B9GGA5M
6989H9FA=B986M
GH5B85F8=N98H9GHG7CF9G
GC:HG?=@@G5B87CAD@9H=CB
C:<=;<G7<CC@
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
9JC@IH=CBHC7C@@9;9697CA=B;57C@@9;9GHI89BH
C@@9;9,7<98I@9
GHI89BHSGG7<98I@9C:
7@5GG9GD9FH9FAH<5H
=B7@I89G85MGH=A9G
@C75H=CBG5B8AC85@=HM=B
D9FGCB<M6F=8CFCB@=B9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
D@5BB=B;57C@@9;9G7<98I@9
CBHF5GH
F958=B;GHF5H9;MK<9F9
H<9 KCF8=G7@5F=X986M
DF9G9BH=B;5KCF8CF
D<F5G9CDDCG=H9C:=HG
A95B=B;
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7CBH9LH7@I9G5B87@CG9F958=B;:CF@=H9F5HIF9
CIFG9'IA69F
-<9BIA69F5GG=;B98HC
7CIFG9GHC=89BH=:MH<9
GD97=X77CIFG95B8@9J9@
C:7CIFG9
F95H=J9-<=B?=B;
G9HC:G?=@@GIG98HCXB8
B9KGC@IH=CBGHC
DFC6@9AGF5=BGHCFA=B;
=G5B9L5AD@9C:5
7F95H=J9H<=B?=B;57H=J=HM
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FKCF8G
C:K=G8CAH<=B?=B;7F=H=75@@M5B87F95H=J9@M
F98=H"CIF.B=H
-<9IB=HC:A95GIF9A9BH
:CF7C@@9;97F98=H\HC:H9B
F9@5H9GHCH<9BIA69FC:
7CIFG9<CIFG5B8=H
7CBHF=6IH9GHCHCH5@7F98=H
<CIFGF9EI=F986M5
89;F99DFC;F5A
F=H=75@-<=B?=B;
G9HC:G?=@@GIG98HC
5B5@MN95G=HI5H=CB5B8
9J5@I5H9H<9577IF57MC:
H<9=B:CFA5H=CB
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FKCF8G
C:K=G8CAH<=B?=B;7F=H=75@@M5B87F95H=J9@M
 !@CGG5FM
99D)FC79GG=B;
)5FHC:5F958=B;
7CADF9<9BG=CBH<9CFM
89J9@CD986M 9F;IG\&
F5=?5B8+C69FH,
%C7?<5FHH<5H=BJC@J9G
G9A5BH=7DFC79GG=B;
K<=7<<5DD9BGK<9BK9
9B7C89H<9A95B=B;C:5
KCF85B8F9@5H9=HHC
G=A=@5FKCF8G
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7CADF9<9B8=B;7C@@9;9@9J9@F958=B;6MIG=B;H<9
F958=B;5DDF9BH=79G<=D5DDFC57<
99D,@99D
)5FHC:H<9G@99D7M7@9
H<5H;=J9GMCIH<9
T899D9GH5B8ACGH
F9GHCF5H=J9G@99DU
<HHDGKKKB=7<8B=<;CJ<95@H<HCD=7GG@99D7CB8=H=CB=B:C
K<5H<5DD9BG
9;F99
TGH5;9C:DFCX7=9B7MCF
EI5@=X75H=CB=B57CIFG9
C:GHI8MBCK9GD97=5@@M
5B5K5F869GHCK986M5
IB=J9FG=HMCF=BGCA9
7CIBHF=9G57C@@9;95G5
79FH=X75H=CBC:57589A=7
57<=9J9A9BHU
<HHDG9BK=?H=CB5FMCF;K=?=89;F99
@97H=J9
7CIFG9H<5HDFCJ=89G
7F98=H<CIFGHCK5F8G5
89;F99\H=GBCHD5FHC:5
7CF989;F99DFC;F5A6IH
=HA5M69F9@5H98HC5
A5>CF
BFC@@A9BH
-<9BIA69FC:GHI89BHG
5HH9B8=B;5IB=J9FG=HMCF
7C@@9;9&5M5@GCF9:9FHC
7@5GGG97H=CBG5B889;F99
DFC;F5AG
LH9FB5@=GHF57H=CB
8=GHF57H=CB75IG986M
CH<9FG
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7CB79BHF5H=CB5B88=GHF57H=CB
LH9FB5@%C7=C:
CBHFC@
-<969@=9:H<5H5D9FGCB=G
7CBHFC@@986MCIHG=89
:CF79G
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FKCF@8
J=9K5B8G9@:9Z757M
!@CGG5FM 
LHF=BG=7)5GG=CB
F=J9HC57H=CBH<5H5G
CDDCG98HC=BHF=BG=7
ACH=J5H=CBGDF=B;G:FCA
CIHG=89=BYI9B79G
=BGH958C::FCACB9SGCKB
:99@=B;G
<HHDKKK6IG=B9GG8=7H=CB5FM7CA89XB=H=CB9LHF=BG=7
ACH=J5H=CB<HA@
 ,
+9:9FGHC5B5DD@=75H=CB
:CFAIG98HC5DD@M:CF
:989F5@XB5B7=5@5=8:CF
98I75H=CB9LD9BG9G
989F5@0CF?,HI8M
TGHI89BH5=8DFC;F5A
H<5HDFCJ=89GD5FHH=A9
9AD@CMA9BH5H5
IB=J9FG=HMCF7C@@9;9HC
5GG=GHK=H<98I75H=CB
9LD9BG9GU
<HHDGGHI89BH5=898;CJG5;@CGG5FM@9HH9F4K
=B5B7=5@=8
!F5BHG@C5BGCF
G7<C@5FG<=DG;=J9BHC5
GHI89BHHCD5M:CFHI=H=CB
=8A5MCFA5MBCHB998
HC69F9D5=8
=FGH;9B9F5H=CB
,HI89BHG
,HI89BHGK<CG9D5F9BHG
<5J9BCH7CAD@9H985
7C@@9;989;F99DFC;F5A
CF<5J9BCH7CAD@9H98
5BM<=;<9F98I75H=CB
7CIFG9KCF?
=FGH295F
LD9F=9B79
,HI89BHG=BH<9=FXFGHM95F
C:7C@@9;9
CFDFCXH
\BGH=HIH=CBG
8I75H=CB5@=BGH=HIH=CBG
H<5H5F9DF=J5H9DFCXH
G99?=B;6IG=B9GG9G
<HHDG9BK=?=D98=5CF;K=?= CF
DFCXH4<=;<9F498I75H=CB4=B4H<94.B=H984,H5H9G
 !@CGG5FM
CIB85H=CB5@\GGI9G
\GGI9GH<5H75B<=B89F5
GI779GG:I@5DDFC57<HC
CJ9F7CA=B;BCB
DFC8I7H=J957H=CBG5B8
<56=HG
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FKCF@8
J=9K5B8G9@:9Z757M
FCBH&5HH9F
-<9XFGHD5;9GC:56CC?
H<5H=B7@I89G
6=6@=C;F5D<=7=B:CFA5H=CB
@=?9H=H@95IH<CF
DI6@=75H=CB85H9\HA5M
5@GC=B7@I89H<9H56@9C:
7CBH9BHG898=75H=CBCF
=BHFC8I7H=CB
<HHDG9BK=?=D98=5CF;K=?=CC?489G=;B
IB7H=CB5@&5;B9H=7
+9GCB5B79\A5;=B;
:&+\
HMD9C:6F5=BG75BH<5H
75B69IG98HCC6G9FJ9
7CADF9<9BG=CB@9J9@G
5B8HC89H9FA=B9H<9
GD97=X7B9IF5@D5H<K5MG
C:57H=J5H=CB57FCGGHKC
7CB8=H=CBGB5FF5H=J9@9J9@
7CADF9<9BG=CB5B8
G9BH9B79@9J9@
7CADF9<9BG=CB
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7CADF9<9B8=B;7C@@9;9@9J9@F958=B;6MIG=B;H<9
F958=B;5DDF9BH=79G<=D5DDFC57<
!9B9F5@8I75H=CB
!9B8
\BGCA989;F99
DFC;F5AGGHI89BHG5F9
F9EI=F98HCH5?9579FH5=B
5ACIBHC:7CIFG9G=B
GD97=X75F95G@=?9G7=9B79
<IA5B=H=9G5B8GC7=5@
G7=9B79G=BCF89FHC
;F58I5H9CIFG9GH<5H
7CIBHHCK5F8GH<=G
F9EI=F9A9BH5F9A5F?98
5G!9B9F5@8I75H=CB
7CIFG9G
!9BF9
?=B85GHM@=GH=775H9;CFM
CFGCFH9GD97=5@@MC:
@=H9F5HIF9CFCH<9F
5FHKCF?G
<HHDG9BK=?H=CB5FMCF;K=?=;9BF9
!@CGG5FMC:-9FAG
TG9HC:89XB=H=CBGC:
KCF8GC:=ADCFH5B79HC
H<9KCF?U
<HHDG9BK=?=D98=5CF;K=?=CC?489G=;B
!@CGG5FM 
!F589(DH=CBG
-<9;F58=B;GMGH9AIG98
5H5B=BGH=HIH=CBH<5H
IGI5@@M=B7@I89G@9HH9F
;F589GD5GG:5=@CDH=CBG
5B8ACF9
!F5BH
IB8G;=J9B HC5GHI89BH
H<5H75B69IG98:CF
98I75H=CBCFCH<9F
9LD9BG9G-<9G9:IB8G
A5MCFA5MBCH69
F9EI=F98HC69F9D5=8
"5=?I
H<F99@=B9DC9A=B5BM
@5B;I5;9K=H<XJ9
GM@@56@9G=BH<9XFGH5B8
@5GH@=B9G5B8G9J9B
GM@@56@9G=BH<9G97CB8
IGI5@@MK=H<5B9AD<5G=G
CBH<9G95GCBCF5
B5HIF5@=GH=7H<9A9
<HHDG9BK=?H=CB5FMCF;K=?=<5=?IB;@=G<
"5@:GG98
)CCF@MCF=B7CAD9H9BH@M
8CB9
<HHDG9BK=?H=CB5FMCF;K=?=<5@:5GG98
"5@:H=A9,H5HIG
F98=H@C585J9F5;9G
7F98=HGD9FH9FA
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
9JC@IH=CBHC7C@@9;9697CA=B;57C@@9;9GHI89BH
"958=B;
-<9H=H@9CFHCD=7C:5
8C7IA9BH5FH=7@9
7<5DH9FCFC:5G97H=CB
H<9F9C:
<HHDG9BK=?H=CB5FMCF;K=?=<958=B;B;@=G<
"CACBMA
KCF8H<5H6CH<GCIB8G
5B8=GGD9@@98H<9G5A9
5G5BCH<9FKCF86IH<5G
58=[9F9BHA95B=B;
<HHDG9BK=?H=CB5FMCF;K=?=<CACBMA
"M6F=8CIFG9G
C@@9;97@5GG9GH<5H5F9
H5I;<H=BD9FGCB5B8=B
H<9CB@=B99BJ=FCBA9BH
 !@CGG5FM
\8=CA
B9LDF9GG=CBD97I@=5FHC
CF7<5F57H9F=GH=7C:5
D5FH=7I@5F@5B;I5;9
9GD97=5@@MK<9BH<9
A95B=B;=G=@@C;=75@CF
G9D5F5H9:FCAH<9
A95B=B;C:=HG
7CADCB9BHKCF8G
<HHDG9BK=?H=CB5FMCF;K=?==8=CA
\B7=89BH5@
&CFD<9A9B5@MG=G
A9H<C8C:@95FB=B;
JC756I@5FM6MIG=B;
ACFD<9A9G
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7CADF9<9B8=B;7C@@9;9@9J9@F958=B;6MIG=B;H<9
F958=B;5DDF9BH=79G<=D5DDFC57<
\B89L\B89LC:
,I6>97HG
B5@D<569H=75@@=GH=B;C:
=H9AG5B8H<9=F@C75H=CB
(+
@=GHC:H9FAGCFGI6>97HG
IG98=BH<9H9LH5B8H<9=F
7CFF9GDCB8=B;D5;9
BIA69FG
<HHDG9BK=?=D98=5CF;K=?=CC?489G=;B
<HHDG9BK=?H=CB5FMCF;K=?==B89L
\B:9F9B79
89XB=H=CBC:5 KCF8H<5H
75B69:CIB8=B
GIFFCIB8=B;G9BH9B79GCF
=AD@=986MH<9;9B9F5@
A95B=B;C:H<9G9@97H=CB
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7CBH9LH7@I9G5B87@CG9F958=B;:CF@=H9F5HIF9
\BH9FB5@=GHF57H=CB
G9@:8=GHF57H=CBH<5H
=B7@I89GH<CI;<H
DFC79GG9GG9@:9GH99ACF
7CBX89B795B8A5M
=B7@I89G9@:7CBHFC@@98
=H9AG@=?979@@D<CB9G
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7CB79BHF5H=CB5B88=GHF57H=CB
\BH9FB5@%C7=C:
CBHFC@
-<969@=9:H<5H5D9FGCB=G
=B7CBHFC@C:G=HI5H=CBG
5B8CIH7CA9G
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FKCF@8
J=9K5B8G9@:9Z757M
!@CGG5FM 
\BHF=BG=7)5GG=CB
,H=AI@5H=CBH<5H8F=J9G5B
=B8=J=8I5@HC58CDHCF
7<5B;9569<5J=CF:CF<=G
CF<9FCKB=BH9FB5@
G5H=G:57H=CBCF:I@X@@A9BH
\BHF=BG=7ACH=J5H=CB=G
IGI5@@MG9@:5DD@=985B8
GDF=B;G:FCA58=F97H
F9@5H=CBG<=D69HK99BH<9
=B8=J=8I5@5B8H<9
G=HI5H=CB
<HHDKKK6IG=B9GG8=7H=CB5FM7CA89XB=H=CB=BHF=BG=7
ACH=J5H=CB<HA@
\BHFC8I7H=CB
T69;=BB=B;G97H=CB
K<=7<GH5H9GH<9
DFCDCG985B8;C5@GC:
H<9:C@@CK=B;KF=H=B;U
<HHDG9BK=?=D98=5CF;K=?=CC?489G=;B
%95FB=B;
CAAIB=HM
;FCIDC:D9CD@9K<C
G<5F97CAACB57589A=7
;C5@G5B85HH=HI89GK<C
A99HG9A=F9;I@5F@MHC
7C@@56CF5H9CB7@5GGKCF?
,I7<7CAAIB=H=9G<5J9
697CA9H<9H9AD@5H9:CF
57C<CFH65G98
=BH9F8=G7=D@=B5FM5DDFC57<
HC<=;<9F98I75H=CB
<HHDG9BK=?=D98=5CF;K=?=%95FB=B;47CAAIB=HM
%CB;-9FA&9ACFM
(B9C:H<F99GH5;9GC:
A9ACFMDFCDCG986M
+=7<5F8H?=BGCB5B8
+=7<5F8,<=[F=B\HT=GH<9
7CBH=BICIGGHCF5;9C:
=B:CFA5H=CBU
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
A9ACFM ' <HHDG7BLCF;7CBH9BHG,FJ(;
+KE*0NH"CK&9ACFM IB7H=CBG
%CB;H9FA+9K5F8G
+9K5F8GH<5HH5?95@CB;
D9F=C8C:H=A9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FK<5HG
7C@@9;9:CF
%CK9F=J=G=CB
CIFG9
CIFG9G;95F98HCK5F8G
GHI89BHGK<C5F9
7CAD@9H=B;H<9=F
:F9G<A5BCFGCD<CACF9
M95F5H57C@@9;9CF
IB=J9FG=HMCIFG9G5F9
HMD=75@@M=BHFC8I7HCFM
 !@CGG5FM
%IB7<\BH9FJ=9K
B=BH9FJ=9K7CB8I7H98
CJ9F@IB7<
&5>CF
-<9A5=B5F95C:GHI8MC:
5GHI89BHKCF?=B;HCK5F8
589;F995H57C@@9;9CF
IB=J9FG=HM
<HHDG9BK=?H=CB5FMCF;K=?=A5>CF
&9H57C;B=H=J9
)9FH5=BGHC
A9H57C;B=H=CBCFH<957H
C:H<=B?=B;56CIHH<=B?=B;
<HHDG9BK=?H=CB5FMCF;K=?=A9H57C;B=H=CB
<HHDG9BK=?H=CB5FMCF;K=?=A9H57C;B=H=J9
&9H5D<CF
-<9IG9C:5KCF8CF
D<F5G9HCF9:9FHC
GCA9H<=B;H<5H=H=GBCH
=BJC?=B;58=F97HG=A=@5F=HM
69HK99BH<9KCF8CF
D<F5G9IG985B8H<9
H<=B;89G7F=6986IH=B
H<975G9C:B;@=G<
K=H<CIHH<9KCF8G@=?9CF
5GK<=7<KCI@8=AD@M5
G=A=@9
<HHDG9BK=?H=CB5FMCF;K=?=A9H5D<CF
&=B8&5DG
GHF5H9;MC:CF;5B=N=B;
=B:CFA5H=CBH<5H=BJC@J9G
588=B;579BHF5@=895HC
H<979BH9FC:H<9D5D9F
5B8588=B;6F5B7<9GC:
GIDDCFH=B;=895G
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FH5?=B;
BCH9G=B7@5GG
&CFD<9A9
-<9GA5@@9GH@=B;I=GH=7
IB=HK=H<=B5KCF8H<5H
75B75FFM5A95B=B;GI7<
5GTIBTT6F95?U5B8T
56@9U=BH<9KCF8
TIB6F95?56@9U
<HHDG9BK=?H=CB5FMCF;K=?=ACFD<9A9B;@=G<
&CFD<9A9B5@MG=G
JC756I@5FMGHF5H9;MCB
IG=B;DF9XL9GGIZL9G
5B8FCCHGCF
ACFD<9A9GK=H<=B
KCF8GHC@95FBH<9=F
A95B=B;
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7CADF9<9B8=B;7C@@9;9@9J9@F958=B;6MIG=B;H<9
F958=B;5DDF9BH=79G<=D5DDFC57<
!@CGG5FM 
'CB577F98=H98
C@@9;9
"=;<9F98I75H=CB
=BGH=HIH=CBGH<5H8CBCH
A99HF9EI=F9A9BHGHC69
577F98=H98 =B5B7=5@5=8
:FCAH<9.,9D5FHA9BH
C:8I75H=CBA5MBCH69
IG985HH<9G97C@@9;9G
<HHDGKKK98;CJ58A=BGXB5=8577F98
577F98=H5H=CB<HA@(J9FJ=9K
'CBF98=H
CBH=BI=B;
8I75H=CB
8I75H=CB5@HF5=B=B;
KCF?G<CDGCF7CIFG9G
H<5H5F97CAD@9H986IH
A5MBCHDFCJ=897F98=H
HCK5F8G589;F99&5M
5@GCF9:9FHC7CIFG9KCF?
7CAD@9H98HCA5=BH5=B5
DFC:9GG=CB5@@=79BG9
'CBDFCXH
\BGH=HIH=CBG
8I75H=CB5@=BGH=HIH=CBG
H<5H5F9BCBDFCXH
'CBHF58=H=CB5@
,HI89BHG
,HI89BHGCJ9FH<95;9C:
K<C<5J9
F9GDCBG=6=@=H=9GCIHG=89C:
H<97C@@9;9GI7<5G69=B;
5G=B;@9D5F9BHCFJ9H9F5B
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH:FCBHA5HH9F
=BHFC8I7H=CB
'CBHF5BG:9F56@9
F98=HG
F98=HG:CF7C@@9;9
7CIFG9KCF?H<5H75BBCH
69HF5BG:9FF9869HK99B
57589A=7=BGH=HIH=CBG
(DDCFHIB=HMCGH
7<C=7965G98CBH<9
97CBCA=7DF=B7=D@9H<5H
H<9F95F9@=A=H98
F9GCIF79G5J5=@56@9GI7<
5GH=A9CFACB9M
(+
-<97CGHC:5B
CDDCFHIB=HM:CF;CB95B8
H<9@CGGC:H<969B9XHG
H<5H7CI@869F979=J98
:FCAH<5HCDDCFHIB=HM
H<9ACGHJ5@I56@9
:CF;CB95@H9FB5H=J9
<HHDG9BK=?H=CB5FMCF;K=?=CDDCFHIB=HM47CGH
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FK<5HG
7C@@9;9:CF
 !@CGG5FM
)9F:97H=CB=GA
-<9B998HC7CAD@9H9
GCA9H<=B;D9F:97H@M
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FH=A9
A5B5;9A9BHF95@=HM
)<CBC@C;M
-<9GHI8MC:H<9K5M
GCIB8G:IB7H=CB=B
@5B;I5;9G=B7@I8=B;
D<CB9A9GGM@@56@9
GHFI7HIF9GHF9GG5779BH
=BHCB5H=CB5B8K<=7<
GCIB8G5F98=GH=B7H=J9
IB=HGK=H<=B5@5B;I5;9
<HHDG9BK=?H=CB5FMCF;K=?=D<CBC@C;M
)\'
)9FGCB5@=89BH=X75H=CB
BIA69F
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
69MCB8HI=H=CBIB89FGH5B8=B;7C@@9;99LD9BG9G
)CGH-F5IA5H=7
,HF9GG=GCF89F
)-,
BM7CB8=H=CBH<5H
89J9@CDG:C@@CK=B;GCA9
GHF9GG:I@G=HI5H=CBCF
9J9BHGI7<5GG@99D
8=GHIF65B79F97IFF9BH
8F95AGK=H<8F5K5@CF
@57?C:7CB79BHF5H=CB
<HHDG9BK=?H=CB5FMCF;K=?=DCGH
HF5IA5H=74GHF9GG48=GCF89FB;@=G<
)F5;A5H=7G
-<9GHI8MC:H<9IG9C:
@5B;I5;9=B5GC7=5@
7CBH9LH
<HHDG9BK=?H=CB5FMCF;K=?=DF5;A5H=7G
)F9C@@9;9%9J9@
CIFG9
CIFG9GH<5H5F9
7CAD@9H98DF=CFHC
7C@@9;9
)F9:579
G<CFHG97H=CBH<5H
7CJ9FG<CKH<96CC?K5G
89J9@CD98CF7CB79=J98
-<=GG97H=CBA5MBCH69
=B7@I898=B5@@6CC?G
<HHDG9BK=?=D98=5CF;K=?=CC?489G=;B
!@CGG5FM 
)F9XL
ACFD<9A958898HC
H<969;=BB=B;C:5KCF8
HCAC8=:M=HGA95B=B;:CF
9L5AD@95GDF9=BDF9XL
7CB=B7CB>IF9F9=B
F9<95H
<HHDG9BK=?H=CB5FMCF;K=?=DF9XL
)F9F9EI=G=H9
\B98I75H=CB57CIFG9CF
HCD=7H<5HAIGH69
7CAD@9H9869:CF9
5BCH<9F7CIFG9CFHCD=7
75B69GH5FH98
<HHDG9BK=?H=CB5FMCF;K=?=DF9F9EI=G=H9
)FC65H=CB
,HI89BHGK<C5F9BCH=B
;CC857589A=7GH5B8=B;
A5M69D@5798CB
DFC65H=CBK<=7<K=@@
F9EI=F9H<9AHC:I@X@@
79FH5=BF9EI=F9A9BHG@=?9
5A=B=AIA!)HCGH5M
9BFC@@985HH<9IB=J9FG=HM
)FC7F5GH=B5H=CB
-<957HC:DIHH=B;
GCA9H<=B;C[
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FH=A9
A5B5;9A9BHF95@=HM
*I5@=X9FG
KCF8H<5H=G56GC@IH9
GI7<5G5@@B9J9F
GCA9H=A9GGCA9CF
C:H9B
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FH9GH
H5?=B;GHF5H9;MGD97=X7G
+5D=8M9
&CJ9A9BH+&
)5FHC:H<9G@99D7M7@9
K<9F9MCIF9M9GACJ9
657?5B8:CFH<EI=7?@M
5B8MCIA5M8F95A-<=G
GH5;9=GG<CFHK<9BMCI
GH5FHG@99D=B;5B8;9HG
@CB;9F5GH<9B=;<H
DFC;F9GG9G
<HHDGKKKB=7<8B=<;CJ<95@H<HCD=7GG@99D7CB8=H=CB=B:C
K<5H<5DD9BG
+958=B;
DDF9BH=79G<=D
F958=B;7CADF9<9BG=CB
A9H<C8K<9F99LD9FH
F9589FG5GG=GH@95FB9FG6M
AC89@=B;H<9=F5DDFC57<
HCF958=B;
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7CADF9<9B8=B;7C@@9;9@9J9@F958=B;6MIG=B;H<9
F958=B;5DDF9BH=79G<=D5DDFC57<
 !@CGG5FM
+958=B;
CADF9<9BG=CB
-<9@9J9@C:
IB89FGH5B8=B;C:5H9LH
A9GG5;9H<5H=G
89D9B89BHIDCB:CIF
@5B;I5;9G?=@@G
D<CBC@C;MGMBH5L
G9A5BH=7G5B8
DF5;A5H=7G
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7CADF9<9B8=B;7C@@9;9@9J9@F958=B;6MIG=B;H<9
F958=B;5DDF9BH=79G<=D5DDFC57<
+97=DFC75@-957<=B;
H957<=B;A9H<C8H<5H
F9EI=F9GGHI89BHGHC
DF98=7HGIAA5F=N9
7@5F=:M5B85G?F9EI9GHG
:CFG97H=CBGC:5H9LH
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7CADF9<9B8=B;7C@@9;9@9J9@F958=B;6MIG=B;H<9
F958=B;5DDF9BH=79G<=D5DDFC57<
+9;=GHF5H=CB
-C9BFC@@CFG=;BID:CF5
7C@@9;97@5GGCF7@5GG9G
+CCHG
KCF8:FCAK<=7<
5BCH<9FKCF8CFKCF8G
5F989F=J98
<HHDG9BK=?H=CB5FMCF;K=?=FCCHB;@=G<
,7<C@5FG<=D
IB8G;=J9BHC5GHI89BH
H<5H=G65G98CB
57589A=7GDCFHCFCH<9F
57<=9J9A9BHG-<9G9
:IB8GA5MBCH69
F9EI=F98HC69F9D5=8
<HHDGGHI89BH5=898;CJG5;@CGG5FM@9HH9F4:
,9@:Z757M
(B9SGG9BG9C:69=B;56@9
HC57<=9J9;C5@G
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FKCF@8
J=9K5B8G9@:9Z757M
,9@:+9;I@5H=CB
-<9F9;I@5H=CB6M5
D9FGCBCF5B
CF;5B=N5H=CBC:H<9=FCKB
69<5J=CFK=H<CIH9LH9FB5@
7CBHFC@CFACB=HCF=B;
<HHDG9BK=?H=CB5FMCF;K=?=G9@:F9;I@5H=CB
,9A5BH=7G
-<9=B8=J=8I5@A95B=B;G
C:KCF8G5GCDDCG98HC
H<9CJ9F5@@A95B=B;C:5
D5GG5;9
<HHDG9BK=?H=CB5FMCF;K=?=G9A5BH=7G
!@CGG5FM 
,9BGCFM&9ACFM
(B9C:H<F99GH5;9GC:
A9ACFMDFCDCG986M
+=7<5F8H?=BGCB5B8
+=7<5F8,<=[F=B\H=GH<9
TGHCF5;9C:6F=9:G9BGCFM
9J9BHGGI7<5GG=;<HG
GCIB8G5B8H5GH9GU
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
A9ACFM ' <HHDG7BLCF;7CBH9BHG,FJ(;
+KE*0NH"CK&9ACFM IB7H=CBG
,<5@@CK)FC79GG=B;
)5FHC:5F958=B;
7CADF9<9BG=CBH<9CFM
89J9@CD986M 9F;IG\&
F5=?5B8+C69FH,
%C7?<5FHH<5H=BJC@J9G
GHFI7HIF5@5B8D<CB9A=7
F97C;B=H=CBH<9
DFC79GG=B;C:G9BH9B79
5B8KCF8GHFI7HIF95B8
H<9=F5GGC7=5H98GCIB8G
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
7CADF9<9B8=B;7C@@9;9@9J9@F958=B;6MIG=B;H<9
F958=B;5DDF9BH=79G<=D5DDFC57<
,<CFH-9FA&9ACFM
(B9C:H<F99GH5;9GC:
A9ACFMDFCDCG986M
+=7<5F8H?=BGCB5B8
+=7<5F8,<=[F=B\HT=G5
H9ADCF5FMGHCF5;9
GMGH9AH<5HDFC79GG9G
=B7CA=B;G9BGCFM
A9ACFMU
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
A9ACFM ' <HHDG7BLCF;7CBH9BHG,FJ(;
+KE*0NH"CK&9ACFM IB7H=CBG
,<CFHH9FA+9K5F8G
+9K5F8GH<5H75B69
5J5=@56@9=B5G<CFH
5ACIBHC:H=A9
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FK<5HG
7C@@9;9:CF
,=895FG
CL9G:CIB8=BH9LH6CC?G
H<5HDFCJ=89F9@5H98
=B:CFA5H=CB
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
DF9D5F5H=CB:CFBCH9H5?=B;
,=A=@9
X;IF9C:GD997<=B
K<=7<CB9H<=B;=G
7CAD5F98HC5BCH<9F=B
H<975G9C:B;@=G<
;9B9F5@@MIG=B;@=?9CF5G
<HHDG9BK=?H=CB5FMCF;K=?=G=A=@9B;@=G<
 !@CGG5FM
,@99D9DF=J5H=CB
-<97CB8=H=CBC:69=B;
?9DH5K5?95B8BCH
;9HH=B;9BCI;<G@99D
D9F<5DG:CF7=6@M6M
GCA9CB99@G9CF6M5
G@99D8=GCF89FHCH<9
DC=BHC:BCH=7956@M@CK9F
5@9FHB9GG
<HHDG9BK=?H=CB5FMCF;K=?=G@99D489DF=J5H=CB
,&+-!C5@G
!C5@GH<5H5F9GD97=X7
A95GIF56@957<=9J56@9
F9@9J5BH5B8H=A96CIB8
-<=GA5M5DD@MHC
D9FGCB5@CF=BGH=HIH=CB5@
;C5@G
<HHDG9BK=?=D98=5CF;K=?=,&+-47F=H9F=5
,C7=5@C;B=H=J9
-<9CFM
T,C7=5@7C;B=H=J9H<9CFM=G
5@95FB=B;H<9CFM65G98
CBH<9=895H<5HD9CD@9
@95FB6MC6G9FJ=B;CH<9FG
-<9G9@95FB9869<5J=CFG
75B6979BHF5@HCCB9SG
D9FGCB5@=HMU
<HHDG9BK=?=D98=5CF;K=?=,C7=5@47C;B=H=J94H<9CFM
,H5[CF8%C5B
HMD9C::989F5@@C5BH<5H
75B69IG98HCD5M:CF
98I75H=CB5@9LD9BG9G
-<9G9:IB8GK=@@B998HC
69F9D5=8
,HF5H9;=7)@5B
BCF;5B=N5H=CBSGDFC79GG
C:89XB=B;=HGGHF5H9;MCF
8=F97H=CB5B8A5?=B;
897=G=CBGCB5@@C75H=B;=HG
F9GCIF79GHCDIFGI9H<=G
GHF5H9;M
<HHDG9BK=?=D98=5CF;K=?=,HF5H9;=74D@5BB=B;
,HI89BHCB8I7H
C89
7C@@97H=CBC:IB=J9FG=HM
DC@=7=9GH<5H5DD@MHC
5DDFCDF=5H9GHI89BH
7CB8I7H5B869<5J=CF
CBG9EI9B79GC:BCH
7CAD@M=B;K=H<H<97C89
A5M=B7@I89GIGD9BG=CB
CF9LD@IG=CB:FCAH<9
IB=J9FG=HM
!@CGG5FM 
,HI89BH'IA69F
=89BH=X75H=CBBIA69F
H<5H=GIB=EI9HC957<
GHI89BH
,HI8M6FC58
DFC;F5AC:GHI8MK<=7<
=G@C75H98=B58=[9F9BH
7CIBHFMH<5BCB9SG<CA9
CFF9G=89BH7CIBHFM
<HHDG9BK=?H=CB5FMCF;K=?=GHI8M456FC58
,I6G=8=N98%C5B
T@C5B65G98CBXB5B7=5@
B998:CFK<=7<H<9
:989F5@;CJ9FBA9BH
;9B9F5@@MD5MGH<9
=BH9F9GHH<5H577FI9G
K<=@9H<96CFFCK9F=G=B
5B=BG7<CC@;F579CF
89:9FA9BHGH5HIG5B8
8IF=B;79FH5=BD9F=C8GC:
F9D5MA9BHIB89F79FH5=B
=B7CA98F=J9BF9D5MA9BH
D@5BGU
<HHDGGHI89BH5=898;CJG5;@CGG5FM@9HH9F4G
,IZL
ACFD<9A9588985H
H<99B8C:5KCF8HC
AC8=:MH<9KCF8SG
A95B=B;
<HHDG9BK=?H=CB5FMCF;K=?=GIZL
,M@@56IG
7CBHF57H69HK99BH<9
=BGHFI7HCF5B8GHI89BH
5B85GCIF79C:
=B:CFA5H=CB:CF:57I@HM
7CBH57H=B:CFA5H=CB
H9LH6CC?=B:CFA5H=CB
7@5GGFCCA69<5J=CF
9LD97H5H=CBG5HH9B85B79
DC@=7M5B87CIFG9
C6>97H=J9G
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FH<9
65G=7GC:GHI8MG?=@@G
,MBH5L
G9HC:FI@9GH<5H;CJ9FB
<CKKCF8G5F97CA6=B98
HC:CFAD<F5G9G5B8
G9BH9B79G
<HHDG9BK=?H=CB5FMCF;K=?=GMBH5L
-56@9C:CBH9BHG
@=GHC:7<5DH9FG5B8
GI67<5DH9FGK=H<H<9=F
7CFF9GDCB8=B;D5;9
BIA69FG
<HHDG9BK=?=D98=5CF;K=?=CC?489G=;B
 !@CGG5FM
-9FA
DCFH=CBC:H<957589A=7
M95FGI7<5G:5@@GDF=B;
CFGIAA9F\H=G5@GC
?BCKB5G5G9A9GH9F5B8
7C@@9;97@5GG9GIGI5@@M
@5GHCB9H9FACF
G9A9GH9F
-F5BG7F=DH
@=GHC:7CIFG9G
7CAD@9H985B8;F589G
95FB98
<HHDG9BK=?H=CB5FMCF;K=?=HF5BG7F=DH
-F5BG:9F56@9F98=HG
F98=HG:CF7C@@9;9
7CIFG9KCF?H<5H75B69
HF5BG:9FF9869HK99B
57589A=7=BGH=HIH=CBG
-I=H=CB
ACIBHC:ACB9M
7<5F;98HCGHI89BHG:CF
=BGHFI7H=CB5@G9FJ=79G
GI7<5G7C@@9;97CIFG9G
-I=H=CBA5M697<5F;98
D9FH9FAD9F7CIFG9CF
D9F7F98=H
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9F
69MCB8HI=H=CBIB89FGH5B8=B;7C@@9;99LD9BG9G
<HHDG9BK=?H=CB5FMCF;K=?=HI=H=CB
.DD9F=J=G=CB
CIFG9
CIFG9G;95F98HCK5F8G
GHI89BHGK<C5F9
7CAD@9H=B;H<9=F>IB=CFCF
G9B=CFM95F5H57C@@9;9CF
IB=J9FG=HMCIFG9GA5M
F9EI=F9DF9F9EI=G=H9G
0CF@8/=9K
"CK5D9FGCBJ=9KGH<9
KCF@85FCIB8H<9A5B8
H<9=FD@579=B=H
<HHDGDF9GGF96IG7CAAIB=HM6@I9DF=BH7<5DH9FKCF@8
J=9K5B8G9@:9Z757M
!@CGG5FM 