!"#$%&'()&*+#,-"& !"#$%"&'()!*+,&-).#%,/0)1(#'-)34")/0#)
56$%-/2)43)7,&6%/#)70%'(#
A Climate Masters Guide
for the Public Health Sector
May 2010
CLIMATE LEADERSHIP INITIATIVE
!
!"#$#%&'()#
,--&./01&*(&'+
!
!"#$%&'(&)'*+%*+,
!"!#$%&'!()$**+,-(................................................................................................................................... /
&0%,12$#%&10(%1(#3&*+%!(#4+05!(+02(6$73&#(4!+3%4(.................................................. 8
!"#$%%"&'"'()*"*(+&'()*"!*(,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,./"(&""'(.$(0!"0+!"(1$!(./"(/"+2./(3%0+#.*($1(#23%+."(#/+&4"(,,,,,,,,,,,,,,,,,,,,,,,,,,,5
0!3$!3.363&4(#23%+."(#/+&4"(0!"0+!"'&"**(,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,78
$02!,)%+02&05(31#+3(&*6+#%)(..................................................................................................... 99
+**"**3&4(9)2&"!+:323.;(<(#+0+#3.;(,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,77
$9"!93"=($&(0):23#(/"+2./(#$&#"!&*(!"2+."'(.$(#23%+."(#/+&4"(,,,,,,,,,,,,,,,7>
5$&2+0#!(10()6!#&:&#(%4,!+%)(........................................................................................................ 9;
"?.!"%"(/"+.(,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,7@
'3*"+*"(0+.."!&*(3&(12)?(,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,A8
=+."!(,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,A>
1$$'(,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,A+3!(B)+23.;(,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,CA
%"&.+2(/"+2./(,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,CD
#10#3$)&10)(.............................................................................................................................................. <=
#$%%)&3#+.3$&(,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,>8
#$22+:$!+.3$&(,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,>A
.+E3&4(+'9+&.+4"($1("?3*.3&4(!"*$)!#"*(,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,>C
-./!/&)0123!4
FGHI(5( IJIKFLMNOPIQR
FGHI(77( EGLSGS(&GNLTKGU(1TPIQNR
FGHI(7@(( +VG(/LHIR
FGHI(7-( WIQQI(:LVXGKR
FGHI(A7( JPYPIUULKHR
FGHI(AZ( ),*,(4ITUTHLMGU(*OP[I\R
FGHI(C-( ),*,(4ITUTHLMGU(*OP[I\R
FGHI(C5( QOSOPSGKSUTVIR
RF]TNTQ(^PTX(1ULMVP(XIXSIPQ(OKJIP(G(
ULMIKQI
"
%>?(#@ABCD?(3?CE?FG>AH(&IADACDAJ?(K#3&L(LQ(G(QTMLGU_QMLIKMI(SGQIJ(HUTSGU(MULXGNI(M]GKHI(
PIQIGPM]`(IJOMGNLTK`(GKJ(NIM]KLMGU(GQQLQNGKMI(MTKQTPNLOX(SINaIIK(.]I(!IQTOPMI(3KKT[GNLTK(4PTOF`(
!"#$%&'()"*+*,-+./0"!*1"/23"4*5/6/7/3"8+-"!"975/!6*!:;3"<*=6-+*>3*/"!/"/23"?*6=3-56/@"+8"A-3B+*C"
#23(LQ(G[GLUGSUI(NT(QOFFTPN(\TOP(I^^TPNQ(aLN](GJJLNLTKGU(PIQTOPMIQ`(MGQI(QNOJLIQ`(NPGLKLKHQ`(GKJ(
JLQMOQQLTKQ,(0UIGQI([LQLN(TOP(FOSULM(]IGUN](aISFGHI(GN(]NNFbccMULXUIGJ,OTPIHTK,IJO,
!"#$%&#'()$*(+,-.-()$(/$0(1+,$2#+,."$%/31-+,4$5*02%6(PIFPIQIKNQ(N]I(LKNIPIQNQ(T^(
;+'!;",7:;6'"23!;/2"!7/2+-6/635"!*1"23!;/2"+8.'3-5"6*"13'656+*D>!E6*B0"!''+7*/!:6;6/@"!*1";3!13-526,"
T^($PIHTKdQ(FOSULM(]IGUN](Q\QNIX,((.]I\(MTKQOUN(aLN](N]I($PIHTK('IFGPNXIKN(T^(/OXGK(*IP[LMIQ`(
0OSULM(/IGUN]('L[LQLTK(TK(GKKOGU(FUGKKLKH`(^OKJLKH(GKJ(FPTHPGX(JIMLQLTK(XGVLKH`(XLKLXOX(
QNGKJGPJQ(^TP(FIPQTKKIU(IXFUT\IJ(LK(UTMGU(]IGUN](JIFGPNXIKNQ`(JI[IUTFXIKN(GKJ(LXFUIXIKNGNLTK(
T^(FOSULM(]IGUN](UGaQ`(GKJ(IKMTOPGHI(GMMTXFULQ]XIKNQ(T^(FOSULM(]IGUN](QNGKJGPJQ(GMPTQQ($PIHTK(
MTOKNLIQ,((#2/$(QNPL[IQ(NT(]G[I(PIFPIQIKNGNLTK(^PTX(GMPTQQ(N]I(QNGNI(GKJ(FOSULM(]IGUN](QIMNTP,((
!"#$%&'()&*(&*"+&,(-*".+/*&0+#1*"&2()$3#*4($&5(-&*"+4-&5)$34$6&(5&*"4/&7-(8+9*&:;+/(&*"#$%&<-+6($&
!"#$%&%"'(")(*"+#$(,-#$&.(/)0+%#$12(34$&'"5#.(!"4'&6(748$%+(,-#$&.2(*#'-(!"4'&6(748$%+(,-#$&.(#'9(&.-(
/:-;"'(<&#&-(=%>%1%"'(")(748$%+(,-#$&.()":(:->%-?%';(#'9(@:">%9%';(+"55-'&1("'(&.%1(5#'4#$A(
#
Preparedness Manual and Program Training Goal %>AG(HFMN?OD(AG(C(OMBHMI?ID(MP(D>?(#@ABCD?(*CGD?F(CIE(#@ABCD?(6F?HCF?EI?GG(HFMQFCBG(
MP(D>?(#@ABCD?(3?CE?FG>AH(&IADACDAJ?R(C(GMOAC@SGOA?IO?(TCG?E(Q@MTC@(O@ABCD?(O>CIQ?(F?G?CFO>R(
?EUOCDAMIR(CIE(D?O>IAOC@(CGGAGDCIO?(OMIGMFDAUB(T?DV??I(%>?(,?GMUFO?(&IIMJCDAMI(5FMUHR(
+$789516:$)();&(3.<$+)=$."#$>)4.-.?.#$/(&$+$@?4.+-)+A,#$B)C-&()D#).$+.$."#$E)-C#&4-.F$(/$
%&#'()G$!"#$;&(H#1.$4##I4$.($-=#).-/F$#//#1.-C#$D#."(=4$(/$"#,;-)'$;?A,-1$+)=$1(DD?S
)-.F$"#+,."$+'#)1-#4$&#=?1#$."#-&$'&##)"(?4#$'+4$#D-44-()4$+)=$;&#;+&#$/(&$."#$-D;+1.4$
(/$',(A+,$1,-D+.#$1"+)'#G$!"-4$D+)?+,$+)=$."#$.&+-)-)'$;&('&+D$+&#$.+-,(&#=$4;#1-31+,,F$
/(&$."#$;?A,-1$"#+,."$4#1.(&<$-)1,?=-)'$1(?).F$;?A,-1$"#+,."$=#;+&.D#).4$+)=$1(DD?)-.F$
TCG?E(>?C@D>(MFQCIAWCDAMIG.(
*().+1.$@.+1F$JF))#<$%&#'()$K&#;+&#=)#44$K&('&+D$L+)+'#&<$M-."$N?#4.-()4$+A(?.$."#$
;&('&+D$+.$57O96$:OPQ8OPR$(&$4CF))#S?(&#'()G#=?$(&$C-4-.$."#$*,-D+.#$0#+=#&4"-;$
&IADACDAJ?(V?TGAD?(CD(>DDHXYYO@AB@?CE.UMF?QMI.?EU.
$
EXECUTIVE SUMMARY
5
;+:!;"';6>!/3"'2!*B3",+535"!"56B*6.'!*/"!*1"3>3-B6*B"/2-3!/"/+",7:;6'"23!;/2C7('PTOH]N`(
23!/"F!=350"G++16*B0"5/+->"1!>!B3"!*1"1653!53"!-3"!;;"3H!'3-:!/31":@"';6>!/3"'2!*B3C"
+MPTQQ(N]I(HUTSI`(]OKJPIJQ(T^(N]TOQGKJQ(T^(JIGN]Q(GKKOGUU\(]G[I(SIIK(JLPIMNU\(ULKVIJ(NT(
N]I(M]GKHLKH(MULXGNI,(3N(LQ(GUQT(LKJLPIMNU\(G^^IMNLKH(N]I(]IGUN](T^(G(MTXFGPGSUI(KOXSIP(T^(FITFUI(
IGM](\IGP,((=LN](FPTHPGXQ(N]GN(PIGM](GMPTQQ(G([GPLIN\(T^(QIMNTPQ(GKJ(FTFOUGNLTKQ`(N]I(FOSULM(]IGUN](
MTXXOKLN\(MGK(FUG\(G(FL[TNGU(PTUI(LK(FPIFGPLKH(MTXXOKLNLIQ(NT(MTFI(aLN](N]I(QIPLTOQ(GKJ(OPHIKN(
]IGUN](MTKQIeOIKMIQ(T^(MULXGNI(M]GKHI,(1TP(LKQNGKMI`(LKMPIGQIJ(LKQNGKMIQ(T^(]IGN(LUUKIQQ`(QFPIGJ(
T^([IMNTP_(GKJ(aGNIP_STPKI(JLQIGQI`(GKJ(]ILH]NIKIJ(XIKNGU(]IGUN](QNPIQQIQ,(0OSULM(]IGUN](GHIKMLIQ(
'!*"!;5+"53/"!*"3H!>,;3"8+-"/236-"'+>>7*6/@":@"!'/6=3;@"-317'6*B"/23"B-33*2+753"B!5"3>6556+*5"
HIKIPGNIJ(S\(N]ILP(^GMLULNLIQ(GKJ(TFIPGNLTKQ(N]GN(MTKNPLSONI(NT(M]GKHIQ(LK(N]I(HUTSGU(MULXGNI,
3K(A88-`(N]I()KL[IPQLN\(T^($PIHTKdQ(#ULXGNI(2IGJIPQ]LF(3KLNLGNL[I(GKJ(N]I($PIHTK(#TGULNLTK(T^(2TMGU(
I3!;/2"A8.'6!;5"57-=3@31"A-3B+*",7:;6'"23!;/2"13,!-/>3*/5"+*"/236-"E*+F;31B3"+8"';6>!/3"'2!*B30"
N]I(LXFGMNQ(TK(FOSULM(]IGUN]`(GMNLTKQ(SILKH(NGVIK(NT(FPIFGPI(^TP(N]IQI(LXFGMNQ`(GKJ(PIQTOPMI(
*3315"/+"/!E3"!'/6+*C"J!*@"-35,+*13*/5"3H,-35531"!*"6*/3-35/"6*"/!E6*B"!'/6+*"/+",-3,!-3"/236-"
JIFGPNXIKNQ(GKJ(MTXXOKLNLIQ(^TP(MULXGNI(M]GKHI`(SON(^IUN(N]I\(JLJ(KTN(]G[I(N]I(VKTaUIJHI`(NTTUQ`(
.*!*'6!;"+-"5/!8.*B"'!,!'6/@0"+-"+-B!*6K!/6+*!;"'+>>6/>3*/"/+"1+"5+C"
L265">!*7!;"65"!"-35,+*53"/+"/2+53"'+*'3-*5C"4/",-+=6135"B761!*'3"+*"2+F"/+",-6+-6/6K3"!*1"
LXFUIXIKN(N]I(TFIPGNLTKGU(M]GKHIQ(N]GN(GUUTa(FOSULM(GHIKMLIQ(NT(FPIFGPI(N]ILP(IXFUT\IIQ(GKJ(
MTXXOKLNLIQ(^TP(MULXGNI(M]GKHI,(+JJLNLTKGUU\`(LN(FPT[LJIQ(HOLJGKMI(GSTON(]Ta(NT(JIXTKQNPGNI(
GKJ(MTXXOKLMGNI(G(MTXXLNXIKN(NT(PIJOMLKH(PLQVQ(GKJ(SOLUJLKH(PIQLULIKMI,(.]I(^TUUTaLKH(MULXGNI(
FPIFGPIJKIQQ(MGNIHTPLIQ(GPI(JLQMOQQIJb
!" !ZDF?B?(>?CD
!" 2AG?CG?(HCDD?FIG(
!" [CD?F
!" :MME(
!" T-&$N?+,-.F$
!" *?IDC@(>?C@D>(
J!*@",7:;6'"23!;/2"13,!-/>3*/5"!-3"5/-3/'231"8+-"27>!*"!*1".*!*'6!;"-35+7-'35C"L265"2!*1:++E"
613*/6.35"!'/6+*5"/2!/"'!*":3"6>,;3>3*/31"6>>316!/3;@"!*1"!/";+F"'+5/0"!5"F3;;"!5"/2+53"/2!/"
>!@"*331";+*BD/3->",;!**6*B"!*1":71B3/"!;;+'!/6+*5C"<!'2"23!;/2"/+,6'"65"3H!>6*31"/+"135'-6:3"
]Ta(LN(aLUU(SI(G^^IMNIJ(S\(MULXGNI(M]GKHI(GKJ(N]I(FTFOUGNLTKQ(XTQN([OUKIPGSUI(NT(N]I(]IGUN](PLQVQ,(
!IMTXXIKJGNLTKQ(GPI(FPT[LJIJ(NT(FPIFGPI(IXFUT\IIQ(GQ(aIUU(GQ(MTXXOKLNLIQ(^TP(N]IQI(M]GKHIQ,(
%IN]TJQ(GPI(LKMUOJIJ(^TP(IQNLXGNLKH(KIIJIJ(MGFGMLN\(NT(LXFUIXIKN(N]I(PIMTXXIKJIJ(GMNLTK(GKJ(
N]I(MTQNQ(GQQTMLGNIJ(aLN](QOM](GMNLTKQ,(.]I(TFIPGNLTKQ(T^(XGK\(]IGUN](JIFGPNXIKNQ(GPI(Q]GFIJ(S\(
FPTHPGX(GKJ(SOJHINLKH(JIMLQLTKQ(XGJI(GN(N]I(QNGNI(UI[IU,((=]IK(^GMLULNLIQ(GPI(Q]GPIJ(aLN](TN]IP(
GHIKMLIQ`(TFIPGNLTKQ(GPI(GUQT(Q]GFIJ(S\(N]I(LKNIPIQNQ(T^(TN]IP(SOLUJLKH(NIKGKNQ,(.]LQ(JTMOXIKN(
%""L23"M+-;1"I3!;/2"A-B!*6K!/6+*C"N;6>!/3"!*1"23!;/2C"2//,OPPFFFCF2+C6*/P>316!'3*/-3P8!'/5233/5P85QRRP3*P6*13HC2/>;(fGMMIQQIJ(&T[IXSIP(A885g
%
/23-38+-3"613*/6.35"!'/6+*5"/2!/"'!*"+''7-"6*/3-*!;;@"!5"F3;;"!5"5/3,5"/2!/"'!*":3"/!E3*"8+-"
6*G73*'6*B"13'656+*D>!E3-5"!/"/23"26B23-";3=3;C"S3'!753"3883'/6=3"8-!>6*B"!*1"'+>>7*6'!/6+*"F6/2"
MT_aTPVIPQ(GKJ(MTKQNLNOIKNQ(LQ(VI\(NT(LKMTPFTPGNLKH(N]I(GMNLTKQ(JIQMPLSIJ(LK(N]LQ(]GKJSTTV`(GJ[LMI(
+*"2+F"/+"/!;E"!:+7/"/2353"655735"6*/3-*!;;@"!*1"3H/3-*!;;@"65"!;5+"6*';7131C"L23"'+*';716*B"53'/6+*"
FPT[LJIQ(G(KOXSIP(T^(PIQTOPMIQ(^TP(N]I(FOSULM(]IGUN](QIMNTP(TK(MULXGNI(M]GKHI,
M26;3"/265">!*7!;"1+35"*+/"5,3'6.'!;;@"613*/68@",+;6'635"/+":3"6>,;3>3*/310",7:;6'"23!;/2"
FPT^IQQLTKGUQ(Q]TOUJ(SI(FPTXLKIKN(QNGVI]TUJIPQ(LK(MULXGNI(FPIFGPIJKIQQ(FUGKKLKH(GN(N]I(UTMGU`(QNGNI`(
GKJ(^IJIPGU(UI[IU(NT(IKQOPI(N]GN(FTULMLIQ(I^^IMNL[IU\(LKNIHPGNI(FOSULM(]IGUN](FPLTPLNLIQ,(.]I(#ULXGNI(
2IGJIPQ]LF(3KLNLGNL[I(aLUU(MTKNLKOI(NT(aTPV(aLN](N]I(FOSULM(]IGUN](QIMNTP(NT(FPT[LJI(HOLJGKMI(GKJ(
QOFFTPN(^TP(LXFUIXIKNGNLTK(T^(KIa(FTULMLIQ(TK(FOSULM(]IGUN](GKJ(MULXGNI(M]GKHI,
INTRODUCTION TO CLIMATE CHANGE & PUBLIC HEALTH
(((
)
;6>!/3"'2!*B3"65"!"56B*6.'!*/"!*1"3>3-B6*B"/2-3!/"/+",7:;6'"23!;/2CA(+MPTQQ(N]I(HUTSI`(
]OKJPIJQ(T^(N]TOQGKJQ(T^(JIGN]Q(GKKOGUU\(]G[I(SIIK(JLPIMNU\(ULKVIJ(NT(G(M]GKHLKH(MULXGNI`(
a]LUI(N]IQI(QGXI(TMMOPPIKMIQ(]G[I(MTXFPTXLQIJ(N]I(]IGUN](of TN]IPQ,C('PTOH]N`(]IGN(
F!=350"G++16*B0"!*1"1653!53"!-3"5+>3"+8"/23"B-3!/35/"23!;/2"/2-3!/5"3H!'3-:!/31":@"';6>!/3"'2!*B3C"
T7:;6'"23!;/2"!B3*'635"!*1"+-B!*6K!/6+*5"2!=3"!*"+,,+-/7*6/@"/+",;!@"!"16-3'/"-+;3"6*"23;,6*B"
MTXXOKLNLIQ(FPIFGPI(^TP(MULXGNI(LXFGMNQ,
3K(A88@`(N]I(3KNIPHT[IPKXIKNGU(0GKIU(TK(#ULXGNI(#]GKHI(f30##g>(JIMUGPIJ(N]GN(N]I(I[LJIKMI(LQ(
KTa(hOKIeOL[TMGUi(N]GN(N]I(IGPN]dQ(GNXTQF]IPI(GKJ(TMIGKQ(GPI(aGPXLKH(SI\TKJ(KGNOPGU([GPLGSLULN\,Z(
L23"4TNN"'+*';7131"/2!/"27>!*"!'/6=6/6350"6*';716*B"3>6556+*5"+8"'!-:+*"16+H6130">3/2!*3"!*1"
TN]IP(HPIIK]TOQI(HGQIQ`(GUTKH(aLN](UGKJ(MUIGPLKH(GKJ(JI[IUTFXIKN`(GPI(PIQFTKQLSUI(^TP(XTQN(T^(N]I(
IGPN]dQ(aGPXLKH,(2I^N(OKM]IMVIJ`(PLQLKH(HUTSGU(NIXFIPGNOPIQ(GKJ(N]I(PIQOUNLKH(M]GKHIQ(LK(MULXGNLM(
FGNNIPKQ(aLUU(G^^IMN(IMTUTHLMGU(]IGUN](GKJ(OKJIPXLKI(IMTKTXLM(GKJ(QTMLGU(FPTQFIPLN\(GQ(aIUU(GQ(
QIMOPLN\(UTMGUU\(GKJ(GSPTGJ,
U;+:!;;@0">!*@"'+>>7*6/635"!-3"!;-3!1@":3B6**6*B"/+"3H,3-63*'3"/23",7:;6'"23!;/2"6>,!'/5"+8"
MULXGNI(M]GKHI(GKJ(N]IQI(LXFGMNQ(GPI(ULVIU\(NT(LKMPIGQI(LK(N]I(KIGP(^ONOPI,D(*N,(2TOLQ(GKJ(/IQQ(
fA88-g(PIFTPNIJ(N]GNb
Q""L23"M+-;1"I3!;/2"A-B!*6K!/6+*C"N;6>!/3"!*1"23!;/2C"2//,OPPFFFCF2+C6*/P>316!'3*/-3P8!'/5233/5P85QRRP3*P6*13HC2/>;(fGMMIQQIJ(&T[IXSIP(A885g
C((=/$,(]NNFbccaaa,aGQ]LKHNTKFTQN,MTXcaF_J\KcMTKNIKNcGPNLMUIcA88Zc77c7Dc+!A88Z777D8A75@,]NXU
V""L23"4TNN"65"!"5'63*/6.'"6*/3-B+=3-*>3*/!;":+1@"53/"7,":@"/23"M+-;1"J3/3+-+;+B6'!;"A-B!*6K!/6+*"&MJA("!*1"/23"?*6/31"W!/6+*5"<*=6-+*>3*/"
0PTHPGXXI(f)&"0g`(MTKQLQNLKH(T^(XIXSIP(HT[IPKXIKNQ(GKJ(]OKJPIJQ(T^(NTF(QMLIKNLQNQ(^PTX(GPTOKJ(N]I(aTPUJ,
Z(3KNIPHT[IPKXIKNGU(0GKIU(TK(#ULXGNI(#]GKHI,(A88@b(*OXXGP\(^TP(0TULM\XGVIPQ,(3Kb(#ULXGNI(#]GKHI(A88@b(.]I(0]\QLMGU(*MLIKMI(:GQLQ,(#TKNPLSONLTK(
T^(=TPVLKH(4PTOF(3(NT(N]I(1TOPN](+QQIQQXIKN(!IFTPN(T^(N]I(3KNIPHT[IPKXIKNGU(0GKIU(TK(#ULXGNI(#]GKHI(j*TUTXTK`(*,`(',(BLK`(%,(%GKKLKH`(6,(#]IK`(
%,(%GPeOLQ`(E,:,(+[IP\N`(%,(.LHKTP`(GKJ(/,2,(%LUUIP(fIJQ,gk,(#GXSPLJHI()KL[IPQLN\(0PIQQ`(#GXSPLJHI(GKJ(&Ia(;TPV,
D(((=/$,(A88Z,(#ULXGNI(GKJ(/IGUN]b(1GMN(*]IIN,(+[GLUGSUI(GNb(2//,OPPFFFCF2+C6*/PB;+:!;'2!*B3P*3F5P85';6>!*123!;/2P3*P6*13HC2/>;
&
U*"+)'#4$-)$1,-D+.#V$1().&-A?.#$.($+$M-=#$+&&+F$(/$"#+,."$#//#1.4<$-)1,?=-)'$."#$
=-.$#//#1.4$(/$.#D;#&+.?&#$+)=$1,-D+.(,('-1$-)4.+A-,-.F<$4?1"$+4$"#+.$M+C#4<$
=&(?'".<$+)=$-)1&#+4#=$/&#N?#)1F$+)=$4#C#&-.F$(/$#W.&#D#$;-;-.+.-()$#C#).4G$
@#1()=+&F$(&$X4F4.#D4$#//#1.4Y$+&#$+,4($-)1,?=#=<$4?1"$+4$."(4#$/&(D$;(4-.-C#$
MF(I?QCDAJ?(ABHCODG(MI(CQFAOU@DUF?R(O@?CI(VCD?F(COO?GGR(G>APDAIQ(Q?MQFCH>AO(
EAGDFATUDAMIG(MP(AIP?ODAMUG(EAG?CG?GR(BAQFCDAMIR(AIOF?CG?E(OMBH?DADAMI(PMF(GOCFO?(
(?&1#4<$+)=$."#$;(.#).-+,$/(&$+&D#=$1()Z-1.[."#$"#+,."$#//#1.4$(/$1,-D+.#$
1"+)'#$+&#$-)1&#+4-)',F$D+)-/#4.$+)=$D+F$"+C#$+$=#C+4.+.-)'$#//#1.$()$',(A+,$
>?C@D>(AI(D>?(I?ZD(G?J?FC@(E?OCE?G(K/\;L.;
3K(N]I()KLNIJ(*NGNIQ`(MULXGNI(M]GKHI(LQ(GUPIGJ\(]G[LKH(GK(GJ[IPQI(I^^IMN(TK(FOSULM(]IGUN]`(QOM](GQ(
6*'-3!535"6*"23!/D-3;!/31"6;;*355"!*1"-35,6-!/+-@"1653!53C""L2353"3883'/5"!-3"3H,3'/31"/+"B-+F"+=3-"
/23"'+>6*B"13'!135"7*;355"3H,;6'6/"388+-/5"!-3">!13"/+",-3,!-3"8+-"!*1"-317'3"/23"-65E5C"4*"/23"
87/7-30"3H/-3>3"/3>,3-!/7-350"6*'-3!531"B-+7*1"+K+*3";3=3;50"1-+7B2/50"G++150"F6;1.-3"!*1"53=3-3"
aIGN]IP(I[IKNQ(MTOFUIJ(aLN](GK(GHLKH(FTFOUGNLTK`(M]GKHIQ(LK(XLHPGNLTK`(GKJ(TN]IP(QTMLTIMTKTXLM(
^GMNTPQ(aLUU(MGOQI(JLPIMN(GKJ(LKJLPIMN(N]PIGNQ(NT(]IGUN](GMPTQQ(N]I(MTOKNP\,-(.]I(A885(PIFTPN(S\(N]I(
?9"U;+:!;"N;6>!/3"X353!-'2"T-+B-!>"613*/6.31"/23"8+;;+F6*B"E3@"/2-3!/5"/+",7:;6'"23!;/2"6*"/23"
)*b5
Y"
(
Y"
(
Y"
"
Y"
Y"
(
(
Y"
(
4*'-3!535"6*"/23"-65E"+8"6;;*355"!*1"13!/2"-3;!/31"/+"3H/-3>3"23!/"!*1"23!/"F!=35"!-3"
[IP\(ULVIU\,(
=GPXLKH(LQ(ULVIU\(NT(XGVI(LN(XTPI(M]GUUIKHLKH(NT(XIIN(GLP(eOGULN\(QNGKJGPJQ(KIMIQQGP\((
NT(FPTNIMN(FOSULM(]IGUN],
<H/-3>3"F3!/23-"3=3*/5"'!753",2@56'!;"!*1">3*/!;"23!;/2",-+:;3>5C"<=3*/5"57'2"!5"(
G++16*B"!*1"F6*15/+->5"!-3",-+Z3'/31"/+"6*'-3!53C
*TXI(JLQIGQIQ(NPGKQXLNNIJ(S\(^TTJ`(aGNIP`(GKJ(LKQIMNQ(GPI(ULVIU\(NT(LKMPIGQI,
X656*B"/3>,3-!/7-3"!*1"'!-:+*"16+H613"'+*'3*/-!/6+*"6*'-3!53",+;;3*",-+17'/6+*"!*1""
FPTUTKH(N]I(FTUUIK(QIGQTK(LK(G(KOXSIP(T^(FUGKNQ(aLN](]LH]U\(GUUIPHIKLM(FTUUIK`(FPIQIKNLKH((
G(]IGUN](PLQV(NT(LKJL[LJOGUQ(aLN](GUUIPHLIQ(GKJ(PIQFLPGNTP\(MTKJLNLTKQ,
#IPNGLK(HPTOFQ`(LKMUOJLKH(M]LUJPIK`(N]I(IUJIPU\`(GKJ(N]I(FTTP`(GPI(XTQN([OUKIPGSUI(NT(N]I((
]IGUN](LXFGMNQ(FTQIJ(S\(MULXGNI(M]GKHI,
(
(
(
(
(
<=3*"68"F+-;1F613"3>6556+*5"+8"'!-:+*"16+H613"!-3"-!,61;@"-317'310"/3>,3-!/7-35"!-3";6E3;@"/+"-653"
6*"A-3B+*"8+-"/23"*3H/"#$"@3!-5C78((.]LQ(LKMPIGQI(aLUU(MGOQI(QI[IPI(LXFGMNQ(TK(KGNOPGU(Q\QNIXQ(GQ(
aIUU(GQ(JLPIMN(GKJ(LKJLPIMN(LXFGMNQ(TK(FOSULM(]IGUN](QOM](GQ(LKMPIGQIJ(LKQNGKMIQ(T^([IMNTP_STPKI(
JLQIGQI`(]LH]IP(PGNIQ(T^(GQN]XG(GKJ(TN]IP(PIQFLPGNTP\(JLQIGQIQ`(HPIGNIP(QFPIGJ(T^(MTXXOKLMGSUI(
JLQIGQI`(PIJOMIJ(aGNIP(eOGULN\`(GKJ(LKMPIGQIJ(]IGN(QNPTVI(GKJ(XTPNGULN\,((2TMGUU\`(N]IQI(LXFGMNQ(aLUU(
:3"3H,3*56=3C"[*"3'+*+>6'"!*!;@565",-+17'31":@"/23"?*6=3-56/@"+8"A-3B+*\5"N;6>!/3"]3!13-526,"
@((*N,(2TOLQ`(%,",`(GKJ(W,W,(/IQQ,(A88-,(h#ULXGNI(#]GKHI(3XFGMNQ(TK(GKJ(3XFULMGNLTKQ(^TP(4UTSGU(/IGUN],i(+XIPLMGK(WTOPKGU(T^(0PI[IKNGNL[I(%IJLMLKI,(
CZfZgb(ZA@_ZC-,
-((#ULXGNI(#]GKHI(*MLIKMI(0PTHPGX,(A88-,(+KGU\QIQ(T^(N]I(I^^IMNQ(T^(HUTSGU(M]GKHI(TK(]OXGK(]IGUN](GKJ(aIU^GPI(GKJ(]OXGK(Q\QNIXQ,(+(!IFTPN(S\(
N]I(),*,(#ULXGNI(#]GKHI(*MLIKMI(0PTHPGX(GKJ(N]I(*OSMTXXLNNII(TK(4UTSGU(#]GKHI(!IQIGPM],(j4GXSUI`(W,2,(fIJ,g`(E,2,("SL`(1,4,(*OQQXGK`(.,W,(=LUSGKVQ`(
f+ON]TPQgk,(),*,("K[LPTKXIKNGU(0PTNIMNLTK(+HIKM\`(=GQ]LKHNTK`('#`()*+,
5(((()*4#!0(A885
78((f#34(A88@g`(
'
3KLNLGNL[I(f#23g(GKJ("MT&TPN]aIQN(LK(A885(^TOKJ(N]GN(UGMV(T^(GMNLTK(NT(PIJOMI(HPIIK]TOQI(HGQ(
IXLQQLTKQ(LQ(ULVIU\(NT(PIQOUN(LK(GJJLNLTKGU(FOSULM(]IGUN](MTQNQ(LK($PIHTK(T^(l588(XLUULTK(S\(A8A8(GKJ(
T[IP(l7(SLUULTK(S\(A8>8(fN]IQI(MTQNQ(GPI(GUPIGJ\(SIHLKKLKH(NT(GMMPOIg,77
=]LUI(GMNLTK(LQ(KIIJIJ(NT(PIJOMI(HPIIK]TOQI(HGQ(IXLQQLTKQ(N]GN(GPI(MGOQLKH(MULXGNI(M]GKHI`(N]I(
FOSULM(]IGUN](QIMNTP(XOQN(QLXOUNGKITOQU\(SIHLK(NT(FPIFGPI(N]ILP(IXFUT\IIQ(GKJ(MTXXOKLNLIQ(^TP(
N]I(LKI[LNGSUI(LXFGMNQ`(XGVLKH(N]I(XTQN(T^(N]ILP(ULXLNIJ(^OKJLKH(GKJ(QNG^^,('IQFLNI(N]I(IXLKIKN(
KIIJ(^TP(FPIFGPGNLTK`(N]I(LXFTPNGKMI(T^(FPIFGPLKH(N]I(FOSULM(]IGUN](QIMNTP(^TP(MULXGNI(M]GKHI(LQ(
+*;@":3B6**6*B"/+"3>3-B3C"4*"!"5/71@":@"/23"*+*,-+./"L-75/"8+-"[>3-6'!\5"I3!;/20"+*;@".=3"5/!/35"
f#GUL^TPKLG`(=GQ]LKHNTK`(&Ia(/GXFQ]LPI`(%GP\UGKJ(GKJ(9LPHLKLGg(]G[I(MULXGNI(GMNLTK(FUGKQ(N]GN(
GJJPIQQ(FOSULM(]IGUN],7A(1OPN]IP`(KGNLTKGU(QNOJLIQ(]G[I(Q]TaK(G(MTKMIPK(T^(FOSULM(]IGUN](LXFGMNQ(
^PTX(MULXGNI(M]GKHI`(SON(UGMV(N]I(VKTaUIJHI(T^(]Ta(NT(GJJPIQQ(N]IQI(LQQOIQ,(
+(QOP[I\(T^($PIHTKdQ(MTOKN\(FOSULM(]IGUN](JIFGPNXIKNQ(S\(N]I($PIHTK(#TGULNLTK(T^(2TMGU(/IGUN](
A8.'6!;5"&N]IA("!*1"L23"N;6>!/3"]3!13-526,"4*6/6!/6=3"'+*';7131"56>6;!-".*16*B5O"!*"!F!-3*355"!*1"
MTKMIPK(^TP(FOSULM(]IGUN](LXFGMNQ(GQQTMLGNIJ(aLN](MULXGNI(M]GKHI`(SON(G(UGMV(T^(VKTaUIJHI`(MGFGMLN\(
+-".*!*'6!;"-35+7-'35"/+",7-573"!'/6+*C"X35,+*13*/5"-3,+-/31"!"B3*3-!;"7*13-5/!*16*B"+8",+/3*/6!;"
6>,!'/5"8-+>"';6>!/3"'2!*B3"6*"/23"-3B6+*"F23-3"/23@"F+-E310":7/";!'E"!*"7*13-5/!*16*B"+8"5,3'6.'"
!'/6+*5"/23@"'+7;1"/!E3"/+",-3,!-3"8+-"/2353"6>,!'/5C"[116/6+*!;;@0"/23">!Z+-6/@"+8"-35,+*13*/5"161"
*+/",-6+-6/6K3"';6>!/3"'2!*B3"23!;/2",-3,!-31*355"173"/+".*!*'6!;"!*1"5/!8.*B"'+*5/-!6*/5C"
3KMPIGQLKH(FOSULM(]IGUN](IXFUT\IIdQ(VKTaUIJHI(T^(MULXGNI(M]GKHI(FPIFGPGNLTK(MGK(UIGJ(NT(
,-6+-6/6K!/6+*"!*1"6>,;3>3*/!/6+*"+8"6*/3-*!;",+;6'@"'2!*B35C"S@"7*13-5/!*16*B"/23"5/3,5"/2!/"
'!*":3"/!E3*"F6/2"=!-6+75";3=3;5"+8"'!,!'6/@"!*1".*!*'6!;"-35+7-'350"!5"F3;;"!5"/2+53"/2!/"'!*":3"
'+*5+;61!/31"F6/2"3H65/6*B"6*6/6!/6=350",7:;6'"23!;/2"13,!-/>3*/5">!@":3":3//3-"3^76,,31"/+"/!E3"
6>>316!/3"!'/6+*"!5"F3;;"!5"5/!-/",-3,!-6*B"8+-"87/7-3"3H/-3>3"3=3*/5C"
!"-4$D+)?+,$-4$+$()4#$.($."#$)##=4$-=#).-3#=$AF$()=#).4$(/$*0>\4$4?&C#F$
KF?P?F?IO?E(CTMJ?L(CIE(HFMJAE?G(QUAECIO?(MI(HFAMFADAWAIQ(CIE(ABH@?B?IDAIQ(EAF?OD(O@ABCD?(
O>CIQ?(HF?HCF?EI?GG(CODAMI(PMF(HUT@AO(>?C@D>(CQ?IOA?G(AI(1F?QMI(CIE(MD>?F(GDCD?G(DM(
1+&&F$(?.$?)=#&$=-//#&#).$,#C#,4$(/$1+;+1-.FG$
0%6'77%*8%8&9,%,&"*8&9,%:,
.
T(]IUF(GJJPIQQ(N]I(KIIJ(^TP(MULXGNI(FPIFGPIJKIQQ(GXTKH(FOSULM(]IGUN](GHIKMLIQ`(N]LQ(XGKOGU(
FPT[LJIQ(G([GPLIN\(T^(NTTUQ(GKJ(PIQTOPMIQ(N]GN(MGK(SI(LXFUIXIKNIJ(aLN](JL^^IPIKN(UI[IUQ(T^(
'!,!'6/@"!*1"16883-3*/";3=3;5"+8".*!*'6!;"'+>>6/>3*/"&3CBC"6*'+-,+-!/6+*"+8",-3,!-31*355"5/-!/3B635"
6*/+"3H65/6*B",-+B-!>5"F6/2"*+"+-";6>6/31"!116/6+*!;"3H,3*535"/+"*3F"6*6/6!/6=35"/2!/">75/":3"
SOJHINIJ(^TP(GKJ(PIeOLPI(N]I(GFFTLKNXIKN(T^(KIa(QNG^^g,(.]PTOH](FPTGMNL[I(LKLNLGNL[IQ`(N]LQ(XGKOGU(
LKNIKJQ(NT(FPT[LJI(TFFTPNOKLNLIQ(^TP(MTQN(QG[LKHQ(S\(PIJOMLKH(^ONOPI(PLQVQ(TP(LXFGMNQ(N]GN(XG\(]G[I(
SIIK(XTPI(QI[IPI(]GJ(GMNLTK(KTN(SIIK(NGVIK,
77((#ULXGNI(2IGJIPQ]LF(3KLNLGNL[I(GKJ("MT&TPN]aIQN,(A885,(+K($[IP[LIa(T^(0TNIKNLGU("MTKTXLM(#TQNQ(NT($PIHTK(T^(G(:OQLKIQQ_+Q_)QOGU(+FFPTGM](NT(
#ULXGNI(#]GKHI,(]NNFbccMULXUIGJ,OTPIHTK,IJOcFOSULMGNLTKQcMULXGNI_IMTKTXLMQ
7A(((.POQN(^TP(+XIPLMGdQ(/IGUN]`(h/IGUN](0PTSUIXQ(/IGN()Fb(#ULXGNI(#]GKHI(GKJ(N]I(0OSULMdQ(/IGUN],i(3QQOI(!IFTPN,($MNTSIP(A885
(
=]LUI(N]LQ(XGKOGU(LQ(JLPIMNIJ(NTaGPJQ(QNGNI(GKJ(MTOKN\(]IGUN](JIFGPNXIKNQ(GQ(aIUU(GQ(MTXXOKLN\(
:!531"23!;/2"+-B!*6K!/6+*50"/23">!Z+-6/@"+8"/23">!/3-6!;5"!*1"-35+7-'35"'!*"!;5+":3"75387;"8+-"
!*@"23!;/2",-!'/6'3"+-"8!'6;6/@C"M6/2"5,3'6.'"!'/6+*5"!*1"-35+7-'35"613*/6.31"6*"3!'2"'2!,/3-0"/265"
XGKOGU(MGK(SI(OQIJ(GQ(G(QNGKJ_GUTKI(HOLJI(^TP(MULXGNI(FPIFGPIJKIQQ,(/TaI[IP`(LN(LQ(XTQN(I^^IMNL[IU\(
OQIJ(NT(GMMTXFGK\(LK_FIPQTK(GKJ(TKULKI(NPGLKLKH(aTPVQ]TFQ,(3KNIPGMNLTK(aLN](TN]IP(GHIKMLIQ(GKJ(
+-B!*6K!/6+*5"/2-+7B2"/23"/-!6*6*B5"6*'-3!53"!*"+-B!*6K!/6+*\5"+,,+-/7*6/@"/+"52!-3";355+*5D;3!-*310"
JI[IUTF(XTPI(LKKT[GNL[I(GMNLTK(FUGKQ(^TP(MULXGNI(FPIFGPIJKIQQ`(GKJ(SOLUJ(GK(OKJIPQNGKJLKH(T^(
JINGLUIJ(LK^TPXGNLTK(GKJ(QNPGNIHLIQ(NT(GJJPIQQ(IGM](T^(N]I(NTFLM(GPIGQ(GMMTOKNLKH(^TP(N]I(KIIJQ`(
'!,!'6/@"!*1".*!*'6!;"-35+7-'35"+8"/23"!B3*'@C"
!"(?'"$."-4$=(1?D#).$?4#4$4;#1-31$1+4#$4.?=-#4$+)=$#+&1"$/&(D$%&#'()$+)=$."#$K+1-31$
](&."M#4.<$-.$-4$+;;,-1+A,#$.($;?A,-1$"#+,."$=#;+&.D#).4$+1&(44$."#$1(?).&FG$
!;%&<%%8&!'&-:%=":%&(':&+;%&.%"$+;&37="6+,&'(&)$>7"+%&);"*?%
.
]I(FOSULM(]IGUN](QIMNTP(FUG\Q(G(FL[TNGU(PTUI(LK(FPTNIMNLKH(MTXXOKLNLIQ(^PTX(N]I(]IGUN](LXFGMNQ(
T^(MULXGNI(M]GKHI,(=]LUI`(N]I(PTUI(T^(N]I(FOSULM(]IGUN](QIMNTP(LK(MULXGNI(M]GKHI(FPIFGPIJKIQQ(
2!5"*+/"@3/":33*"';3!-;@"13.*31"!/"/23"B;+:!;0"*!/6+*!;"+-"-3B6+*!;";3=3;0"';6>!/3",-3,!-31*355"
QNPGNIHLIQ(MTXFUIXIKN(]IGUN](GKJ(KONPLNLTKGU(HTGUQ`(IXIPHIKM\(PIQFTKQI`(GKJ(FPI[IKNLTK(T^(
MTXXOKLMGSUI(JLQIGQIQ,(%GK\(FPIFGPIJKIQQ(QNPGNIHLIQ(MGK(GUQT(UTaIP(IKIPH\(MTQNQ(GKJ(GLP(FTUUONLTK`(
!*1"-317'3"/23";6E3;62++1"8+-"87/7-3"3H,3*535"!5"!"-357;/"+8"-35,+*16*B"/+"3H/-3>3"3=3*/5C
3K(GJJLNLTK`(FOSULM(]IGUN](GHIKMLIQ(aTPV(GMPTQQ(G([GPLIN\(T^(
.3;15"!*1",+,7;!/6+*5"57'2"!5"2+756*B0"'+>>7*6/@",;!**6*B0"
^TTJ(eOGULN\(GKJ(eOGKNLN\`(GLP(GKJ(aGNIP(eOGULN\`(TMMOFGNLTKGU(
2!K!-150";+F"6*'+>30"2+>3;3550"3;13-;@0"@+7/20"!*1"6*.->31"
FTFOUGNLTKQ,(:\(NGVLKH(GMNLTKQ(KTa(LK(GUU(T^(N]I(GPIGQ(a]IPI(
N]I\(MOPPIKNU\(aTPV(NT(FPIFGPI(^TP(N]I(]IGUN](LXFGMNQ(
GQQTMLGNIJ(aLN](MULXGNI(M]GKHI`(N]I(FOSULM(]IGUN](QIMNTP(MGK(
]IUF(PIJOMI(N]I(PLQVQ(GKJ(MTQNQ(T^(N]I(ULVIU\(]IGUN](LXFGMNQ(T^(
MULXGNI(M]GKHI,
U6=3*"/23"'+>,;3H6/@"!*1"5'+,3"+8",-+Z3'/31"';6>!/3"6>,!'/50"'-+55D53'/+-"'+;;!:+-!/6+*"'!*"
3*57-3"/2!/",-3,!-31*355"!'/6=6/635"!-3":3*3.'6!;"/+"&!*1"*+/"!1=3-53;@"!883'/6*B("+/23-"53'/+-5C"
T7:;6'"23!;/2"F+-E3-50"!1>6*65/-!/6+*50"!*1"13,!-/>3*/5"'!*":3*3./"8-+>"!1+,/6*B"';6>!/3"'2!*B3"
FPIFGPIJKIQQ(GQ(G(QNPGNIHLM(HTGU(GKJ(MTXXOKLMGNI(QNPGNIHLIQ(aLN](TN]IP(KINaTPVQ,7C(.]I(#ULXGNI(
2IGJIPQ]LF(3KLNLGNL[I(fA88-g(]GQ(JI[IUTFIJ(GK(LKNIHPGNIJ(]IGUN](FPIFGPIJKIQQ(FUGKKLKH(^PGXIaTPV`(
F26'2";++E5"!'-+55"/23"5@5/3>5"/2!/"!-3">+5/"=7;*3-!:;3"/+"';6>!/3"'2!*B3"6*"/23"T!'6.'"
&TPN]aIQN(fL,I,(KGNOPGU`(]OXGK`(SOLUN`(MOUNOPGU`(GKJ(IMTKTXLMg,(.]I(^PGXIaTPV(TONULKIQ(VI\(FPLKMLFUIQ(
NT(GQQLQN(JL^^IPIKN(QIMNTPQ(LK(N]ILP(FPIFGPGNLTK(^TP(MULXGNI(M]GKHI,(.]I(^TUUTaLKH(GPI(N]PII(HIKIPGU(
LKNIHPGNL[I(FPIFGPIJKIQQ(FPLKMLFUIQ(NT(MTKQLJIPb
9G$$
$
T=(;.$+$M"(,#$4F4.#D4$+;;&(+1"<$,((I-)'$+.$-).#&+1.-()4$A#.M##)$4#1.(&4$5#G'G$$
"(M$1"+)'#4$-)$)+.?&+,$4F4.#D4$M-,,$-D;+1.$"?D+)$"#+,."6
%)""N;6>!/3"]3!13-526,"4*6/6!/6=3"!*1"A-3B+*"N+!;6/6+*"+8"]+'!;"I3!;/2"A8.'6!;5C"_T-3,!-31*355"6*"A-3B+*O"[*"[55355>3*/"+8"[F!-3*3550"T-3,!-!/6+*"
GKJ(!IQTOPMI(&IIJQ(^TP(0TNIKNLGU(0OSULM(/IGUN](!LQVQ(+QQTMLGNIJ(aLN](#ULXGNI(#]GKHI,i(+FPLU(A885
)
^G$$
E)=#&4.+)=$."#$,-D-.4$+)=$?)-).#)=#=$1()4#N?#)1#4$(/$"?D+)$-).#&C#).-()G
:G$$
$
T=(;.$+)$+=+;.-C#$D+)+'#D#).$4.&+.#'F$.($+==,$."#$)##=$/(&$Z#W-A-,-.F$-)$."#$$
/+1#$(/$/?.?&#$?)1#&.+-).FG9<
:\(MTXXOKLMGNLKH(aLN]`(GKJ(FPT[LJLKH(IJOMGNLTK(NT`(N]I(FOSULM(GKJ(UTMGU(JIMLQLTK(XGVIPQ(GSTON(
N]I(KIIJ(^TP(MULXGNI(FPIFGPIJKIQQ(FUGKKLKH`(FOSULM(]IGUN](JIFGPNXIKNQ(MGK(]IUF(MTXXOKLNLIQ(
OKJIPQNGKJ(N]I(MTKKIMNLTKQ(SINaIIK(MULXGNI(GKJ(]IGUN],(/IGUN](JIFGPNXIKNQ(MGK(GUQT(MTUUGSTPGNI(
F6/2"-353!-'2"6*5/6/7/6+*50"+/23-"!B3*'6350"!*1"*+*,-+./"+-B!*6K!/6+*5"/+":3//3-"7*13-5/!*1";6E3;@"
23!;/2"6>,!'/5":@">+13;6*B"';6>!/3"'2!*B3",-+Z3'/6+*5"!*1"613*/68@",+/3*/6!;"6>,!'/5"/+",7:;6'"
]IGUN](GKJ([OUKIPGSUI(FTFOUGNLTKQ(QOM](GQ(\TOKH(M]LUJPIK`(N]I(IUJIPU\`(UTa_LKMTXI(MTXXOKLNLIQ`(GKJ(
FITFUI(aLN](JLQGSLULNLIQ(TP(M]PTKLM(XIJLMGU(MTKJLNLTKQ,((
-:>':>+>@>*?&)$>7"+%&);"*?%&-:%=":%8*%,,
=
26;3"*+/"5,3'6.'!;;@"613*/6.310"';6>!/3"'2!*B3",-3,!-31*355"'+>,;3>3*/5"/23"<553*/6!;"
0OSULM(/IGUN](*IP[LMIQ(N]GN(FPT[LJI(N]I(^PGXIaTPV(T^(N]I(&GNLTKGU(0OSULM(/IGUN](
0IP^TPXGKMI(*NGKJGPJQ(0PTHPGX,(
!" L()-.(&$"#+,."$4.+.?4$.($-=#).-/F$+)=$4(,C#$1(DD?)-.F$"#+,."$;&(A,#D4G
!" _-+')(4#$+)=$-)C#4.-'+.#$"#+,."$;&(A,#D4$+)=$"#+,."$"+`+&=4$-)$."#$1(DD?)-.FG
!" &IPMFBR(?EUOCD?R(CIE(?BHMV?F(H?MH@?(CTMUD(>?C@D>(AGGU?G.
!" L(A-,-`#$1(DD?)-.F$;+&.)#&4"-;4$+)=$+1.-()$.($-=#).-/F$+)=$4(,C#$"#+,."$;&(A,#D4G
!" _#C#,(;$;(,-1-#4$+)=$;,+)4$."+.$4?;;(&.$-)=-C-=?+,$+)=$1(DD?)-.F$"#+,."$#//(&.4G
!" B)/(&1#$,+M4$+)=$&#'?,+.-()4$."+.$;&(.#1.$"#+,."$+)=$#)4?&#$4+/#.FG
!" 3AI](H?MH@?(DM(I??E?E(H?FGMIC@(>?C@D>(G?FJAO?G(CIE(CGGUF?(D>?(HFMJAGAMI(MP(>?C@D>(
OCF?(V>?I(MD>?FVAG?(UICJCA@CT@?.
!" +GGUF?(C(OMBH?D?ID(HUT@AO(CIE(H?FGMIC@(>?C@D>(OCF?(VMF]PMFO?.
!" BC+,?+.#$#//#1.-C#)#44<$+11#44-A-,-.F<$+)=$N?+,-.F$(/$;#&4()+,$+)=$;(;?,+.-()QA+4#=$
>?C@D>(G?FJAO?G.
!" ,?G?CFO>(PMF(I?V(AIGAQ>DG(CIE(AIIMJCDAJ?(GM@UDAMIG(DM(>?C@D>(HFMT@?BG.
/IGUN](JIFGPNXIKNQ(]G[I(GK(TFFTPNOKLN\(NT(FPIFGPI(^TP(N]I(]IGUN](PLQVQ(T^(MULXGNI(M]GKHI(N]GN(GPI(
GUPIGJ\(GJ[IPQIU\(LXFGMNLKH(]OXGK(]IGUN](GPTOKJ(N]I(aTPUJ(GKJ(aLUU(MTKNLKOI(NT(FTQI(G(UTKH_NIPX(
'2!;;3*B3"8+-",7:;6'"23!;/2"13,!-/>3*/5"!*1"'+>>7*6/@"23!;/2"+-B!*6K!/6+*5C""L23",!5/"57''355"+8"
FOSULM(]IGUN](I^^TPNQ(NT(aTPV(TK(XOUNL_JIMGJI(NLXIQMGUIQ(fI,H,(FTULT`(NTSGMMT`(INM,g(FPT[LJIQ(G(XTJIU(
8+-"/!'E;6*B"';6>!/3"'2!*B3"/2-3!/5C"[5"57'20"';6>!/3"'2!*B3"23!;/2"/2-3!/5">75/":3",-6+-6/6K31"/+"
IKQOPI(N]I\(GPI(GJJPIQQIJ(HL[IK(N]I(GUPIGJ\(QNPINM]IJ(MGFGMLN\(T^(PIQTOPMIQ(T^(]IGUN](JIFGPNXIKNQ(
NT(XGKGHI(LXXLKIKN(IXIPHIKMLIQ,(3N(LQ(LXFTPNGKN(NT(VIIF(LK(XLKJ(N]GN(LK[IQNLKH(LK(MULXGNI(M]GKHI(
FPIFGPIJKIQQ(NTJG\(aLUU(FPI[IKN(LKMPIGQIJ(MTQNQ(LK(N]I(^ONOPI,7Z
%V""N;6>!/3"]3!13-526,"4*6/6!/6=30"?*6=3-56/@"+8"A-3B+*C"_T-3,!-6*B"/23"T!'6.'"W+-/2F35/"8+-"N;6>!/3"N2!*B3O"["`-!>3F+-E"8+-"4*/3B-!/6=3"T-3,!-!_
NLTK(0UGKKLKH(^TP(&GNOPGU`(/OXGK`(:OLUN(GKJ("MTKTXLM(*\QNIXQi(A88%#"N;6>!/3"]3!13-526,"4*6/6!/6=3"!*1"A-3B+*"N+!;6/6+*"+8"]+'!;"I3!;/2"A8.'6!;5C"_T-3,!-31*355"6*"A-3B+*O"[*"[55355>3*/"+8"[F!-3*3550"T-3,!-!/6+*"
GKJ(!IQTOPMI(&IIJQ(^TP(0TNIKNLGU(0OSULM(/IGUN](!LQVQ(+QQTMLGNIJ(aLN](#ULXGNI(#]GKHI,i(+FPLU(A885
!*
UNDERSTANDING LOCAL IMPACTS
!
23"?*6=3-56/@"+8"M!526*B/+*\5"N;6>!/3"4>,!'/5"U-+7,"&N4U(",-+Z3'/5"/2!/"';6>!/3"
'2!*B3"6>,!'/5"6*"/23"T!'6.'"W+-/2F35/"F6;;"6*';713"'2!*B35"6*"/3>,3-!/7-30">+-3"
3H/-3>3"F3!/23-"3=3*/50"!*1"=!-6!*'3"6*",-3'6,6/!/6+*"!*1"5*+F,!'EC7D(.]IQI(M]GKHIQ(
F6;;"56B*6.'!*/;@"6>,!'/"3'+5@5/3>5"!*1":6+16=3-56/@"6*"/23"W+-/2F35/0"F26'2"6*"/7-*"F6;;"2!=3"
MTKQLJIPGSUI(LXFULMGNLTKQ(^TP(GUU(GQFIMNQ(T^(QTMLIN\`(LKMUOJLKH(]OXGK(]IGUN],(
N4U\5",-+Z3'/6+*5"+8"-3B6+*!;"/-3*15"2!=3":33*"!8.->31":@"!55355>3*/5"+8"/23"'+*53^73*'3"+8"
MULXGNI(M]GKHI(LK(N]I(!THOI`(EUGXGN](GKJ(=LUUGXINNI(:GQLKQ(T^($PIHTK(JTKI(S\(N]I(#ULXGNI(
2IGJIPQ]LF(3KLNLGNL[I(f#23g(GKJ(FGPNKIPQ`(LKMUOJLKH(N]I($PIHTK(#ULXGNI(#]GKHI(!IQIGPM](3KQNLNONI(
&ANNX4(C"L23";+'!;"5/71635"8+7*1"/2!/"/2353"-3B6+*5"!-3"!;-3!1@"3H,3-63*'6*B"26B23-"/3>,3-!/7-35"
GKJ(N]GN(MULXGNI(M]GKHI(LQ(ULVIU\(NT(PIJOMI(QKTaFGMV`(MGOQI(
3!-;63-"5,-6*B"-7*+880"6*'-3!53"F6;1.-30"!*1"1-!>!/6'!;;@"!;/3-"
=3B3/!/6+*",!//3-*5C"S!531"+*"6*,7/":@"3H,3-/50"-357;/6*B"
LXFGMNQ(LKMUOJIb(LKMPIGQIJ(LKQNGKMIQ(T^([IMNTP_STPKI(JLQIGQI(
^PTX(LKQIMNQ(QOM](GQ(XTQeOLNTIQ`(JOI(NT(XTPI(SPIIJLKH(
B-+7*15"8-+>"G++16*B"!*1"F!->6*Ba"26B23-"-!/35"+8"!5/2>!"
!*1"+/23-"-35,6-!/+-@"1653!535"8-+>"6*'-3!531"B-+7*1"+K+*30"
26B23-"!;;3-B3*50"!*1"5>+E3"8-+>"F6;1.-35a"3H3>,;6.31"-!/35"
+8"'+>>7*6'!:;3"1653!53"5,-3!1a"!*1"236B2/3*31"23!/"5/-+E3"
GKJ(XTPNGULN\,7@(
A,,%,,>*?&BC$*%:"#>$>+D&E&)"="6>+D
#
;6>!/3"'2!*B3"65"6*'-3!56*B"/23"5/-3*B/20"8-3^73*'@0"!*1"7*,-316'/!:6;6/@"+8"3H/-3>3"F3!/23-"
I[IKNQ(^TP(a]LM](]IGUN](FPT^IQQLTKGUQ(]LQNTPLMGUU\(XGKGHIJ,(:\(NGVLKH(FPTGMNL[I(QNIFQ`(FOSULM(
23!;/2"!B3*'635"!*1"'+>>7*6/@"23!;/2"+-B!*6K!/6+*5"'!*",-3,!-3"8+-"/2353"'2!*B35"!*1"/23"
GQQTMLGNIJ(]IGUN](LXFULMGNLTKQ(T^(MULXGNI(M]GKHI`(IQFIMLGUU\(GXTKH([OUKIPGSUI(FTFOUGNLTKQ(a]T(GPI(
!/"!"26B23-"-65E"+8"13!/20"6*Z7-@0"165!:6;6/@"!*1"1653!53C"T7:;6'"23!;/2",-+83556+*!;5"'!*":76;1",7:;6'"
!F!-3*355"!:+7/"';6>!/3"'2!*B3"6*"!*"388+-/"/+"'!;>"83!-5"!*1"317'!/3"'6/6K3*5"+*"2+F"/+"5/!@"
]IGUN]\(SI^TPI`(JOPLKH`(GKJ(G^NIP(JLQGQNIP(I[IKNQ,
N+*5613-"@+7-"!B3*'@\5"3H65/6*B"!'/6=6/635"!*1"!55355"2+F"'7--3*/"388+-/5"'+7;1"-35,+*1">+-3"
16-3'/;@"/+"/23"5,3'6.'"'2!;;3*B35"+8"';6>!/3"'2!*B3C"M2!/"6>,!'/5"!-3">+-3";6E3;@"/+"!883'/"@+7-"
'+>>7*6/@"&3CBC"23!/"F!=350"G++150"!*1"F6;1.-35(b""L23"T!'6.'"W+-/2F35/0"8+-"3H!>,;30"65";6E3;@"
/+"3H,3-63*'3"6*'-3!531"6*53'/"+7/:-3!E5"!*1"13';6*6*B"5,-6*B/6>3"5*+F,!'E"/2!/"'+7;1"5/-!6*"
aGNIP(QOFFULIQ,(.]I(*TON]IGQN`(TK(N]I(TN]IP(]GKJ`(aLUU(QII(XTPI(^PIeOIKN(]IGN_PIUGNIJ(LUUKIQQIQ(GKJ(
6*'-3!531"27--6'!*3"6*/3*56/@C""L23"?C9C"U;+:!;"N2!*B3"X353!-'2"T-+B-!>",-+=6135"-3B6+*D5,3'6.'"
LK^TPXGNLTK(TK(MULXGNI(LXFGMNQ(GN(aaa,HUTSGUM]GKHI,HT[,()KJIPQNGKJLKH(N]I(FPIJLMNIJ(UTMGU(
MTKQIeOIKMIQ(T^(MULXGNI(M]GKHI(aLUU(SOLUJ(N]I(^TOKJGNLTK(^TP(G(QNPTKH(FPIFGPIJKIQQ(QNPGNIH\,(
%R""4TNN"c"N4U0"Q$$Ra"J+/30"Q$$d
%e""T9X0"Q$$Qa"MIA0"Q$$da"N]4"c"WNN9T0"Q$$d
!!
.]I(^TUUTaLKH(GPI(N]PIGNQ(NT(MTKQLJIP(a]IK(JI[IUTFLKH(G(MULXGNI(FPIFGPIJKIQQ(FUGK(fGJJPIQQIJ(LK(
87-/23-"13/!6;"6*"/23"_U761!*'3"+*"9,3'6.'"L2-3!/5f"53'/6+*"+8"/265"B7613(O
!" !"%,!*!(4!+%(^(>?CD(VCJ?G(CIE(>?CDSF?@CD?E(A@@I?GG?G
!" 2&)!+)!(6+%%!,0)(^(OMBBUIAOCT@?(CIE(J?ODMFSTMFI?(EAG?CG?G
!" aT!Bb$c$1,#+)$M+.#&$+11#44$+)=$M+.#&QA(&)#$=-4#+4#4$/(,,(M-)'$Z((=4$+)=$=&(?'".$
!" d%%_$c$+'&-1?,.?&+,$-D;+1.4$()$/((=$4#1?&-.F<$;(-4()-)'4$/&(D$4#+/((=$.(W-1-.F
!" T>b$eET0>!f$c$+,,#&'-#4$+)=$-&+.(&F$=-4#+4#4$/&(D$;(,,?.-()$+)=$M-,=3
!" LB]!T0$2BT0!2$c$;4F1"-+.&-1$&-4I4$-)$()4#$.($1,-D+.#$1"+)'#$-D;+1.4$
)'*8C6+>*?&"&BC$*%:"#>$>+D&4+C8D
K(GQQIQQXIKN(T^(\TOP(GHIKM\dQ(IXIPHIKM\(XGKGHIXIKN(GKJ(]IGUN](PIQFTKQI(FUGKQ`(GKJ(GK\(
-3;!/31"165!5/3-"-35,+*53",-+B-!>5"6*"@+7-"-3B6+*"&3CBC"!"'+7*/@"2!K!-15">6/6B!/6+*",;!*("!-3"
LXFTPNGKN(QNIFQ(NTaGPJ(I^^IMNL[I(FPIFGPIJKIQQ(FUGKKLKH,(+([OUKIPGSLULN\(GQQIQQXIKN(aLUU(FPT[LJI(
G(SINNIP(OKJIPQNGKJLKH(T^(a]IPI(NT(^TMOQ(\TOP(GHIKM\dQ(LKLNLGNL[IQ(GKJ(IJOMGNLTK(FPTHPGXQ(LK(
-35,+*53"/+"/2353",-+Z3'/31"/2-3!/5C"L23"M+-;1"I3!;/2"A-B!*6K!/6+*"2!5"13=3;+,31"!">3/2+1"/+"
GQQIQQ(]OXGK(]IGUN]([OUKIPGSLULN\(GKJ(FOSULM(]IGUN](GJGFNGNLTK(NT(MULXGNI(M]GKHI`(a]LM](LKMUOJIQ(
N]I(^TUUTaLKH(QNIFQ(^TP(MTKJOMNLKH(G([OUKIPGSLULN\(QNOJ\b
+
!" 2?D?FBAI?(D>?(GOMH?(MP(D>?(CGG?GGB?ID.(
'IMLJI(TK(N]I(NLXI^PGXI(GKJ(PIHLTK(T^(^TMOQ,
!"
(((2?GOFAT?(D>?(OUFF?ID(EAGDFATUDAMI(CIE(TUFE?I(MP(O@ABCD?SG?IGADAJ?(EAG?CG?G.(
#TKQLJIP(N]I(MOPPIKN(LKMLJIKMI(GKJ(FPI[GUIKMI`(FUOQ(HITHPGF]LM(JLQNPLSONLTK(T^([IMNTP_
STPKI(JLQIGQI,
!"
$$$>=#).-/F$+)=$=#41&-A#$;+4.$+)=$1?&&#).$4.&+.#'-#4<$;(,-1-#4$+)=$D#+4?$."+.$&#=?1#$."#$
TUFE?I(MP(O@ABCD?SG?IGADAJ?(EAG?CG?G.(
3K[IQNLHGNI(N]I(]LQNTPLM(PIQFTKQIQ(NT(QLXLUGP(N]PIGNQ(GKJ(LJIKNL^\(N]I(QNPIKHN]Q(TP(aIGVKIQQIQ(
T^(N]IQI(FUGKQ,('PGa(^PTX(QOMMIQQ^OU(GJGFNGNLTK(FUGKQ(MOPPIKNU\(SILKH(LXFUIXIKNIJ(LK(
GKNLMLFGNLTK(T^(MULXGNI(M]GKHI(LXFGMNQ,(
!"
((b#C-#M$."#$"#+,."$-D;,-1+.-()4$(/$."#$;(.#).-+,$-D;+1.$(/$1,-D+.#$C+&-+A-,-.F$+)=$1"+)'#$$$
MI(MD>?F(G?ODMFG.(
"""""]++E"!'-+55"5'63*/6.'"!*1"*+*D23!;/2"53'/+-5C"
!"
((!GDABCD?(D>?(PUDUF?(HMD?IDAC@(>?C@D>(ABHCODG(UGAIQ(GO?ICFAMG(MP(PUDUF?(O@ABCD?(O>CIQ?R(
HMHU@CDAMI(QFMVD>(CIE(MD>?F(PCODMFG.
]++E"/+"';6>!/3"5'3*!-6+5"/2!/"6*';713"23!;/2",-+Z3'/6+*5"!*1"135'-6:3"7*'3-/!6*/@"6*"/23"
5'3*!-6+5"!*1",-+Z3'/31"6>,!'/5C
!"
!"
($@F)."#4-`#$."#$?,.4$+)=$=&+/.$+)$+44#44D#).$&#;(&.G$
)QI(N]I(PIQOUNQ(^PTX(N]I(FPI[LTOQ(QNIFQ(NT(LJIKNL^\(ULKVQ(SINaIIK(QIMNTPQ`([OUKIPGSUI(
FTFOUGNLTKQ(GKJ(VI\(QNGVI]TUJIPQ,(
!"
((>=#).-/F$+==-.-()+,$+=+;.+.-()$;(,-1-#4$+)=$D#+4?$.($&#=?1#$;(.#).-+,$)#'+.-C#$"#+,."$
?PP?ODGR(AIO@UEAIQ(HFMO?EUF?G(PMF(?JC@UCDAMI(CPD?F(ABH@?B?IDCDAMI.
*IN(FPLTPLNLIQ(S\(I[GUOGNLKH(QNPIKHN]Q(GKJ(aIGVKIQQIQ,
<"4:+-B(C,/2(D3-&."91(")(#11-11%';(.45#'(.-#$&.(>4$'-:#8%$%&6(#'9(@48$%+(.-#$&.(#9#@&#&%"'(&"(+$%5#&-(+.#';-E(FGHHIJ(
+(JINGLUIJ([OUKIPGSLULN\(GQQIQQXIKN(NTTU(LQ(SILKH(JI[IUTFIJ(S\(G(KOXSIP(T^(FOSULM(]IGUN](
+-B!*6K!/6+*5"!'-+55"/23"country N]PTOH](G(#IKNIPQ(^TP('LQIGQI(#TKNPTU(GKJ(0PI[IKNLTK(FPTHPGX(
GKJ(aLUU(SI(G[GLUGSUI(TKULKI(aLN](HOLJIULKIQ(^TP(XT[LKH(N]PTOH](N]I(QOHHIQNIJ(GMNLTK(QNIFQb(FUIGQI(
QII(N]I(FOSULM(]IGUN](PIQTOPMIQ(FGHI(GN(]NNFbccMULXUIGJ,OTPIHTK,IJO(^TP(XTPI(LK^TPXGNLTK,(
)'*8C6+>*?&"&)"="6>+D&A,,%,,7%*+
]IPI(GPI(G(KOXSIP(T^(HOLJIULKIQ(G[GLUGSUI(NT(]IUF(FOSULM(]IGUN](JIFGPNXIKNQ(GQQIQQ(MGFGMLN\(
^TP(LXFUIXIKNLKH(FPIFGPIJKIQQ(GMNL[LNLIQ,(1TP(G(MTXFPI]IKQL[I(GQQIQQXIKN`(QII(N]I(NTTUQ(ULQNIJ(
SIUTa,(#GFGMLN\(GQQIQQXIKNQ(HIKIPGUU\(LK[TU[I(GK(TONQLJI(PI[LIaIP(aTPVLKH(aLN](G(KOXSIP(T^(QNG^^(
/+"'+*17'/"/2+-+7B2"6*/3-=63F5"/+":3//3-"7*13-5/!*1"3=3-@/26*B"8-+>"+-B!*6K!/6+*!;"5/-7'/7-3"/+"
^OKJLKH(TFFTPNOKLNLIQ,
.
3K(HIKIPGU`(GJJPIQQLKH(N]I(^TUUTaLKH(eOIQNLTKQ(MGK(FPT[LJI(G(FPIULXLKGP\(OKJIPQNGKJLKH(T^(MGFGMLN\(
^TP(LXFUIXIKNLKH(MULXGNI(M]GKHI(FPIFGPIJKIQQ(QNPGNIHLIQ,(;TO(MGK(MTKJOMN(GK(LKNIPKGU(QOP[I\(
fTKULKI(N]PTOH](G(NTTU(QOM](GQ(QOP[I\XTKVI\,MTX(TP(FGFIP_SGQIJg`(MTKJOMN(LKNIP[LIaQ`(TP(]TUJ(
^TMOQ(HPTOF(QIQQLTKQ,
9.( a"+.$-4$."#$4.+//\4$I)(M,#='#<$.&+-)-)'<$(&$#=?1+.-()$()$;&(H#1.#=$',(A+,$+)=$,(1+,$1,-D+.#$
O>CIQ?(>?C@D>(ABHCODG(CIE(CHHFMHFACD?(HF?HCF?EI?GG(B?CGUF?G_
\.( a"+.$(;;(&.?)-.-#4$#W-4.$.($-D;&(C#$#D;,(F##$;&(31-#)1F$()$."#$-44?#g
`.( 4CG(D>?(E?HCFDB?ID(?IQCQ?E(AI(GDFCD?QAO(H@CIIAIQ(?Z?FOAG?G(D>CD(AIO@UE?E(O@ABCD?(O>CIQ?(
F?@CD?E(OMIDAIQ?IOA?G_
<.( a"+.$"+4$A##)$."#$=#;+&.D#).\4$"-4.(&-1+,$()4#$+)=$+A-,-.F$.($D+)+'#$#D#&'#)1-#4$-)$
D>?(HCGD_
/.( 2M(OUFF?ID(E?HCFDB?IDC@(QMC@G(CIE(MH?FCDAMIC@(H@CIG(AIO@UE?(O@ABCD?(O>CIQ?(HF?HCF?EI?GG_(
8.( +F?(D>?F?(@MIQSD?FB(GDFCD?QA?G(CIE(AIADACDAJ?G(AI(H@CO?(D>CD(CF?(@AI]?E(DM(HF?HCFAIQ(PMF(D>?(
>?C@D>(ABHCODG(MP(O@ABCD?(O>CIQ?_
;.( >4$1,-D+.#$1"+)'#$;&#;+&#=)#44$&#Z#1.#=$-)$."#$A?='#.$+)=$,()'Q&+)'#$3)+)1-+,$;,+)4g
a.( [>CD(CF?(D>?(PUIEAIQ(MHHMFDUIADA?G(CIE(O>C@@?IQ?G(MP(AID?QFCDAIQ(O@ABCD?(HF?HCF?EI?GG(
-).($=+-,F$(;#&+.-()4g
b.( 2M?G(D>?(E?HCFDB?ID(TUA@E(CIE(BCAIDCAI(OM@@CTMFCDAJ?(F?@CDAMIG>AHG(VAD>(MD>?F(
'(C#&)D#).$+'#)1-#4<$)();&(3.4$(&$A?4-)#44#4$."+.$1+)$+-=$-)$1,-D+.#$;&#;+&#=)#44g
9=.( >4$."#$=#;+&.D#).$;#&1#-C#=$M-."-)$."#$1(DD?)-.F$+4$+)$#W;#&.$()$1,-D+.#$&#,+.#=$"#+,."$
ABHCODG_
!#
#TXFUINLKH(N]I([OUKIPGSLULN\(GKJ(MGFGMLN\(QNOJ\(aLUU(PIeOLPI(JIJLMGNIJ(QNG^^`(aLN](GK(IQNLXGNIJ(NLXI(
MTXXLNXIKN(T^(>8(]TOPQ(NT(MTXFUINI`(JIFIKJLKH(TK(N]ILP(VKTaUIJHI(T^(N]I(JIFGPNXIKN`(GMMIQQ(
NT(PIQTOPMIQ(TK(UTMGU(LXFGMNQ(T^(MULXGNI(M]GKHI`(GKJ(OKJIPQNGKJLKH(T^(N]I(MTKKIMNLTKQ(SINaIIK(
MULXGNI(M]GKHI(GKJ(FOSULM(]IGUN],
014/90)14
#GFGMLN\(+QQIQQXIKN(.TTUQ(GPI(G[GLUGSUI(GNb
]NNFbccaaa,MGQI\HPGKNQ,TPHcFGHIQcPIQTOPMIQcPIQTOPMIQYJTaKUTGJGQQIQQXIKN,GQF
*LXFUI(#GFGMLN\(+QQIQQXIKN(.TTU
]NNFbccaaa,HJPM,TPHcKHTcSU_QMGN,]NX
+QQIQQLKH("XIPHIKM\(!IQFTKQI(GKJ(0OSULM(/IGUN](0PIFGPIJKIQQ
:PGKJ`(%,(IN,(GU,(A88D,(+(%TJIU(^TP(+QQIQQLKH(0OSULM(/IGUN]("XIPHIKM\(0PIFGPIJKIQQ(#TXFINIKMLIQ(
GKJ("[GUOGNLKH(.PGLKLKH(:GQIJ(TK(N]I(2TMGU(0PIFGPIJKIQQ(0UGK,(WTOPKGU(T^(/TXIUGKJ(*IMOPLN\(GKJ(
"XIPHIKM\(%GKGHIXIKN,(9TU(C`(3QQOI(A,(
2//,OPPFFFC:3,-355C'+>PZ253>P=+;)P655QP)P
J'g6*53@"<883'/6=3"N!,!'6/@"S76;16*B"6*"W+*,-+./"A-B!*6K!/6+*5"
]NNFbccaaa,[FFGPNKIPQ,TPHcUIGPKLKHcPIFTPNQcMGFGMLN\cMGFGMLN\,]NXU
N+>>7*6/@"N;6*6'5"4*6/6!/6=3"A-B!*6K!/6+*!;"N!,!'6/@"L++;"
]NNFbccaaa,MTXXOKLN\MULKLMQ,TPHcMTKNIKNcGPNLMUIcJINGLUcZC7
/F%:F>%G&'*&-C#$>6&.%"$+;&)'*6%:*,&0%$"+%8&+'&)$>7"+%&);"*?%
*
'63*/65/5",-316'/"/2!/"';6>!/3"'2!*B3"F6;;"2!=3"!"56B*6.'!*/"6>,!'/"+*"/23"<!-/2\5"*!/7-!;"5@5/3>50"
a]LM](aLUU(LK(NOPK(G^^IMN(PIQTOPMIQ(GKJ(LK^PGQNPOMNOPI,((.]IQI(M]GKHIQ(LKMUOJI(G(PGKHI(T^(FOSULM(
23!;/2"'+*'3-*5";6E3"F!/3-D:+-*3"1653!535"!*1"-35,6-!/+-@"6;;*355C""L265"53'/6+*"3H,;+-35"56H">!Z+-"
N]PIGNQ(NT(FOSULM(]IGUN](GQ(N]I\(PIUGNI(NT(MULXGNI(M]GKHI(GKJ(FPT[LJIQ(HOLJGKMI(TK(LXFUIXIKNLKH(
';6>!/3"'2!*B3",-3,!-31*355"!'/6+*5"8+-"3!'2"+8"/23"8+;;+F6*B"655735O"3H/-3>3"23!/0"1653!53"
FGNNIPKQ`(aGNIP`(^TTJ`(GLP(eOGULN\`(GKJ(XIKNGU(]IGUN],((
1H!01I1&.1A!
A*3"3H,3'/31"'+*53^73*'3"+8"';6>!/3"'2!*B3"65"6*'-3!531"/3>,3-!/7-3"=!-6!*'30"F26'2"
LKMUOJIQ(N]I(FTNIKNLGU(^TP(XTPI(^PIeOIKN(]IGN(aG[IQ(GKJ(UTKHIP(FIPLTJQ(T^(]TN(aIGN]IP,((
=]IK(MTXSLKIJ(aLN](UTa(FPIMLFLNGNLTK(UI[IUQ`(]LH]IP(N]GK(G[IPGHI(NIXFIPGNOPIQ(MGK(PIQOUN(
6*"1-+7B2/"'+*16/6+*5C"<H/-3>3"23!/"65"!"16-3'/"/2-3!/"/+",7:;6'"23!;/2"!5"26B2"/3>,3-!/7-35"
MGK(MGOQI(QIPLTOQ(]IGN_PIUGNIJ(LUUKIQQIQ(GKJ(I[IK(JIGN]`(IQFIMLGUU\(GXTKH([OUKIPGSUI(
FTFOUGNLTKQ(QOM](GQ(N]I(IUJIPU\(GKJ(LKJL[LJOGUQ(a]T(FIP^TPX(QNPIKOTOQ(aTPV(TONJTTPQ,(
!$
2341A41&-A!!10<4
.]I(NPGKQXLQQLTK(T^([IMNTP_STPKI(JLQIGQI(LQ(G^^IMNIJ(S\(M]GKHIQ(LK(MULXGNI(FGNNIPKQ(ULVI(
G[IPGHI(NIXFIPGNOPI(GKJ(FPIMLFLNGNLTK(PGNIQ,((4UTSGU(M]GKHIQ(LK(NPG[IU`(XLHPGNLTK`(GKJ(
;!*1"753"!-3"3H,3'/31"/+"!>,;68@"/2353"3883'/5C"N;6>!/3"'2!*B3"65"5268/6*B"/23"165/-6:7/6+*"
T^(JLQIGQI_MGOQLKH(XLMPTSIQ(JOI(NT(IMTQ\QNIX(M]GKHIQ(GKJ(FTFOUGNLTK(XLHPGNLTK,((
#TXXOKLMGSUI(JLQIGQIQ(QFPIGJ(eOLMVU\`(IQFIMLGUU\(LK(JIKQI(OPSGK(GPIGQ(N]GN(GPI(SIMTXLKH(
XTPI(FTFOUGNIJ,((
JA!10
#ULXGNI(M]GKHI(MGK(LXFGMN(STN](N]I(G[GLUGSLULN\(GKJ(eOGULN\(T^(JPLKVLKH(aGNIP(PIQTOPMIQ,((
+Q(G[IPGHI(NIXFIPGNOPIQ(PLQI`(FPIMLFLNGNLTK(FGNNIPKQ(GPI(XTPI(ULVIU\(NT(Q]L^N`(MGOQLKH(
1-+7B2/5"!*1"G++15"/+"+''7-">+-3"+8/3*"!*1"F6/2"6*'-3!531"53=3-6/@C""J+-3"8-3^73*/"
5/+->"3=3*/5"'+>:6*31"F6/2"-656*B"53!";3=3;5"'+7;1"236B2/3*"/23"6*'613*'3"+8"G++16*B"
IXIPHIKMLIQ`(IQFIMLGUU\(LK(MTGQNGU(MTXXOKLNLIQ,((#TK[IPQIU\`(G(JIMPIGQI(LK(QNIGJ\(PGLK^GUU(GKJ(
3!-;63-"5*+F>3;/"6*"5+>3"-3B6+*5"'!*"5/-!6*"F!/3-"57,,;635"!*1"56B*6.'!*/;@"-!653"!*"!-3!\5"
=7;*3-!:6;6/@"/+"F6;1.-35C"
K//2
I6B23-"/3>,3-!/7-35"!*1"3H/-3>3"F3!/23-"3=3*/5"'!*"*3B!/6=3;@"6>,!'/"8++1"@63;15"!*1"
^TTJ(QIMOPLN\,((.]I(G[GLUGSLULN\(GKJ(KONPLNLTKGU([GUOI(T^(^TTJ(MPTFQ(GPI([OUKIPGSUI(NT(MULXGNI(
LXFGMNQ(ULVI(JPTOH]NQ(GKJ(OKMTXXTKU\(]IG[\(PGLK^GUU,((#PTFQ(GKJ(UL[IQNTMV(MGK(SI(]GPXIJ(
S\(N]I(IXIPHIKMI(T^(aIIJQ`(FIQNQ`(GKJ(JLQIGQIQ(N]GN(N]PL[I(LK(M]GKHLKH(NIXFIPGNOPIQ(GKJ(
FPIMLFLNGNLTK(FGNNIPKQ,((+JJLNLTKGUU\`(KIa(JLQIGQIQ(MGK(SI(LKNPTJOMIJ(N]PTOH](LKMPIGQIJ(^TTJ(
LXFTPNGNLTK`(a]LM](MTOUJ(KIHGNL[IU\(LXFGMN(JTXIQNLM(FPTJOMNLTK,
A30&L9AM3!N
!IQFLPGNTP\(GKJ(MGPJLT[GQMOUGP(JLQIGQI(GPI(ULVIU\(NT(LKMPIGQI(GQ(G(PIQOUN(T^(HPIIK]TOQI(HGQ(
MTKMIKNPGNLTKQ(GKJ(N]I(GLP(FTUUONGKN(S\_FPTJOMNQ(T^(^TQQLU(^OIU(MTXSOQNLTK,((#ULXGNI(M]GKHI(
LQ(GUQT(G^^IMNLKH(N]I(FPTJOMNLTK(T^(FTUUIK(FPTJOMLKH(FUGKNQ`(a]LM](MGK(PGLQI(N]I(PLQV(T^(GUUIPHLM(
GQN]XG(fGQN]XG(Q\XFNTXQ(NPLHHIPIJ(S\(GK(GUUIPHLM(PIGMNLTKg,(#]GKHIQ(LK(NIXFIPGNOPI`(
GLP(XT[IXIKN`(GKJ(FPIMLFLNGNLTK(FGNNIPKQ(MGK(PIJOMI(TONJTTP(GLP(eOGULN\(S\(G^^IMNLKH(N]I(
GSOKJGKMI(GKJ(JLQFIPQLTK(T^(FTUUONGKNQ(N]GN(MTKNPLSONI(NT(GLP(FTUUONLTK_PIUGNIJ(XTPSLJLN\(
GKJ(XTPNGULN\,
I1<!AM&.1AM!.
<H/-3>3"F3!/23-"3=3*/5";6E3"27--6'!*35"!*1"G++15"/2!/"2!=3"';3!-"13=!5/!/6*B",2@56'!;"
LXFGMNQ(NT(LK^PGQNPOMNOPI(GUQT(MTKNPLSONI(NT(XIKNGU(]IGUN](LQQOIQ(^TP(N]I(G^^IMNIJ(MTXXOKLN\,(
T+,7;!/6+*5"/2!/"5/-7BB;3"3'+*+>6'!;;@"+-"57883-"8-+>",-3D3H65/6*B">3*/!;"23!;/2"'+*16/6+*5"
!-3">+-3";6E3;@"/+"3H,3-63*'3",5@'2+;+B6'!;"/-!7>!"8+;;+F6*B"!"';6>!/3"-3;!/31"165!5/3-C"
.]IQI(I[IKNQ(GPI(T^NIK(MTXSLKIJ(aLN](JLQFUGMIJ(QTMLGU(KINaTPVQ(GKJ(GK(LKNIPPOFNLTK(LK(
PIHOUGP(FQ\M]LGNPLM(MGPI`(a]LM](XG\(MTXFTOKJ(N]I(FPTSUIX,("[IK(LKJL[LJOGUQ(a]T(GPI(KTN(
16-3'/;@"6>,!'/31":@"5/+->"3=3*/5">!@"3H,3-63*'3"13,-3556+*0"3>+/6+*!;"165/-3550"!*1"
!*H63/@"8+;;+F6*B"!*"3H/-3>3"F3!/23-"3=3*/C""
!%
N;6>!/3"'2!*B3",-3,!-31*355"'!*":3*3./",7:;6'"23!;/2":@",-+/3'/6*B"'+>>7*6/635"8-+>"/23"3883'/5"
T^(MULXGNI_PIUGNIJ(LXFGMNQ(ULVI(JLXLKLQ]IJ(GLP(eOGULN\`(]IGN(aG[IQ`(TP([IMNTP_STPKI(JLQIGQI(TONSPIGVQ,((
0OSULM(]IGUN](FPT^IQQLTKGUQ(Q]TOUJ(SI(FPTXLKIKN(QNGVI]TUJIPQ(LK(MULXGNI(FPIFGPIJKIQQ(FUGKKLKH(GN(
N]I(UTMGU`(QNGNI`(GKJ(^IJIPGU(UI[IU(NT(IKQOPI(N]GN(FTULMLIQ(I^^IMNL[IU\(LKNIHPGNI(FOSULM(]IGUN](FPLTPLNLIQ,((
=]LUI(QTXI(FPIFGPIJKIQQ(QNPGNIHLIQ(XG\(PIeOLPI(GK(LK[IQNXIKN(T^(PIQTOPMIQ(N]GN(PIeOLPIQ(^TPXGU(
,+;6'@"!7/2+-6K!/6+*"+-"6>,;3>3*/!/6+*0"+/23-"!'/6+*5"'!*"3!56;@":3",7/"6*/+",-!'/6'3"6*/3-*!;;@":@"!"
JIFGPNXIKN,
Using this Manual
!"#$1,-D+.#$;&#;+&#=)#44$4.&+.#'-#4$;#).#=$-)$#+1"$(/$."#$4#1.-()4$&#N?-&#$
=-//#&#).$,#C#,4$(/$1+;+1-.F$+)=$3)+)1-+,$(?&1#4G$!($4?;;(&.$;&-(&-.-`+.-()$(/$+1.-()4$
/(&$=#;+&.D#).4$(&$(&'+)-`+.-()4$."+.$D-'".$"+C#$,-D-.#=$D#+)4$/(&$1+&&F-)'$(?.$
;&#;+&#=)#44$4.&+.#'-#4<$M#$"+C#$;&(C-=#=$4FDA(,4$.($-)=-1+.#$."#$#4.-D+.#=$+D(?).$(/$
"?D+)$+)=$3)+)1-+,$(?&1#4$)##=#=G
$ ‐ $ $ $ $ !‐!!!!" "
# 3KJLMGNIQ(IQNLXGNIJ(MTQN(^TP(LXFUIXIKNGNLTK
3KJLMGNIQ(MGFGMLN\(fQNG^^(NLXIg(KIIJIJ(^TP(LXFUIXIKNGNLTK
2LXLNIJ(TP(KT(MTQN(TP(MGFGMLN\(KIMIQQGP\
hK,#+4#$)(.#$."+.$4(D#$+1.-()4$D+F$"+C#$?;/&().$1(4.4<$A?.$."#$;+FA+1I$;#&-(=$-4$(/.#)$
,#44$."+)$+$/#M$F#+&4G
!&
GUIDANCE ON SPECIFIC THREATS
1H!01I1&.1A!
1
H/-3>3"23!/"65">!-E31":@"F3!/23-"'+*16/6+*5"/2!/"!-3"56B*6.'!*/;@"2+//3-"!*1P+-">+-3"
27>61"/2!*"!=3-!B3"6*"!"B6=3*";+'!/6+*"17-6*B"!"B6=3*"/6>3"+8"@3!-C"`+-"/23"T!'6.'"
W+-/2F35/0"!"_23!/"F!=3f"65"!*"3H/-3>3"F3!/23-"3=3*/"'2!-!'/3-6K31":@"53=3-!;"'+*53'7/6=3"
JG\Q(T^(NIXFIPGNOPIQ(T^(58m(1(TP(]LH]IP`(OKOQOGUU\(aGPX(XLKLXOX(KLH]NNLXI(NIXFIPGNOPIQ(fLK(N]I(
7,,3-"R$5"!*1";+F3-"e$5"h`"6*"/23"T!'6.'"W+-/2F35/(0"!*1"26B2"!/>+5,23-6'",-3557-3"/2!/"/-!,5"
5/!B*!*/">!5535"+8"F!->0"2!K@"!6-"';+53"/+"/23"B-+7*1C"L23"M+-;1"J3/3+-+;+B6'!;"A-B!*6K!/6+*\5"
13.*6/6+*"65"F23*"/23"1!6;@">!H6>7>"/3>,3-!/7-3"+8">+-3"/2!*".=3"'+*53'7/6=3"1!@5"3H'3315"/23"
!=3-!B3">!H6>7>"/3>,3-!/7-3":@"ih"`0"/23"*+->!;",3-6+1":36*B"%iR%j%ii$C7-(;TO(MGK(M]IMV(aLN](
/23"W!/6+*!;"M3!/23-"93-=6'3"`+-3'!5/"A8.'3"6*"@+7-"!-3!"/+".*1"@+7-";+'!;"13.*6/6+*C75"<H,+57-3"
/+"3H'3556=3"23!/"65"!"53-6+75",7:;6'"23!;/2",-+:;3>"!*1"65"/23";3!16*B"'!753"+8"F3!/23-D-3;!/31"
^GNGULNLIQ,A8
.'G&J>$$&)$>7"+%&);"*?%&A((%6+&1O+:%7%&.%"+&1F%*+,P
]I(MTKKIMNLTK(SINaIIK(MULXGNI(M]GKHI(GKJ(XTPI(^PIeOIKN(GKJ(LKNIKQI(]IGN(I[IKNQ(LQ(aIUU(
35/!:;65231":@"/23"5'63*/6.'"'+>>7*6/@CA7(+MMTPJLKH(NT(N]I(30##`(]LH]IP(XIGK(NIXFIPGNOPIQ(
GKJ(LKMPIGQIJ(NIXFIPGNOPI([GPLGKMI(GPI(ULVIU\(TONMTXIQ(T^(MULXGNI(M]GKHI,(.]LQ(XIGKQ(]LH]IP(
!=3-!B3"/3>,3-!/7-35"+=3-!;;"!-3"3H,3'/310"!5"F3;;"!5"!*"6*'-3!53"6*"/23";6E3;62++1"+8"-3'+-1D53//6*B"
NIXFIPGNOPIQ(GKJ(UTKHIP(FIPLTJQ(T^(]TN(aIGN]IP,(&TPN]IPK(MLNLIQ(LK(N]I(),*,(N]GN(GPI(OKGMMOQNTXIJ(
NT(]LH](NIXFIPGNOPIQ(aLUU(^GMI(GJJLNLTKGU(M]GUUIKHIQ(NT(FPIFGPI(PIQLJIKNQ(GKJ(IeOLF(SOLUJLKHQ(
^TP(LKMPIGQLKHU\(^PIeOIKN(PIMTPJ_SPIGVLKH(JG\Q(IGM](\IGP,(#TOFUIJ(aLN](FPTUTKHIJ(JP\(aIGN]IP(
'+*16/6+*50"3H/-3>3"23!/">!@"!;5+"-357;/"6*"175/"5/+->5"!*1"1-+7B2/"&533"/23"k-+7B2/"93'/6+*"8+-"
XTPI(LK^TPXGNLTK(TK(N]I(]IGUN](LXFGMNQ(T^(N]IQI(MTKJLNLTKQg,(
.
J;"+&A:%&!;%&-'+%*+>"$&-C#$>6&.%"$+;&0>,Q,&/(&
1O+:%7%&.%"+P
H/-3>3"23!/"!''+7*/5"8+-">+-3"F3!/23-D-3;!/31"13!/25"6*"/23"?C9C"
/2!*"G++150"27--6'!*350"3!-/2^7!E35"!*1"/+-*!1+35"'+>:6*31C"[/"
+7-"'7--3*/"-!/3"+8"'!-:+*"3>6556+*50"3H/-3>3"23!/D-3;!/31"13!/25"
6*"/23"?C9C"!-3",-+Z3'/31"/+"';6>:"8-+>"e$$"/+":3/F33*")0$$$"!*1"
Z`888(GKKOGUU\(S\(N]I(\IGP(A8Z8,AA(
"
<H/-3>3"23!/"65"*+/!:;3"!>+*B"';6>!/3"'2!*B3D-3;!/31",7:;6'"
]IGUN](PLQVQ(SIMGOQI(LN(N]PIGNIKQ(]OXGK(]IGUN](JLPIMNU\`(PGN]IP(N]GK(
LKJLPIMNU\,(0IPXGKIKN(JLQGSLULN\(GKJ(I[IK(JIGN](MGK(TMMOP(a]IK(]LH](
NIXFIPGNOPIQ(_(MTXSLKIJ(aLN](TN]IP(IK[LPTKXIKNGU(PLQV(^GMNTPQ(QOM](GQ(OPSGK(GLP(FTUUONLTK(_(MGOQI(
132@1-!/6+*"!*1P+-">!E3"6/"168.'7;/"8+-"/23":+1@"/+",-+,3-;@"'++;"6/53;8C"4*"+-13-"+8"6*'-3!56*B"
QI[IPLN\`(N]I(XTQN(MTXXTK(]IGN_PIUGNIJ(LUUKIQQIQ(GPI(ULQNIJ(LK(.GSUI(7,
%d""`-6'20"[Ca"]ClC"[;3H!*13-0"TC"k3;;!DJ!-/!0"SC"U;3!5+*0"JC"I!@;+'E0"[CJCUC"g;36*"L!*E0"!*1"LC"T3/3-5+*"&m!*7!-@"Q$$Q(C"_A:53-=31"'+23-3*/"'2!*B35"6*"
';6>!/6'"3H/-3>35"17-6*B"/23"53'+*1"2!;8"+8"/23"/F3*/63/2"'3*/7-@fC"N;6>!/3"X353!-'2"%iO"%i)jQ%QC"1+6O%$C))#VP'-$%i%i)C"2//,OPP'''>!C53+5C7=6'C'!P
".##'%3cJTMQc1PLM]INGU8A,FJ^,
%i""?9"<*=6-+*>3*/!;"T-+/3'/6+*"[B3*'@"&?9<T[(C"<H'3556=3"I3!/"<=3*/5"U7613:++EC"?9"<*=6-+*>3*/!;"T-+/3'/6+*"[B3*'@"Q$$RC"
Q$""]7:3-0"U3+-B30"J[0"T2k0"J6'2!3;"J'U3326*0"T2k0"J9TI"_N;6>!/3"N2!*B3"!*1"<H/-3>3"I3!/"<=3*/5f"[>"m+7-*!;"+8"T-3="J31C"Q$$da)#&#(
A7((3SLJ,
AA(h#ULXGNI(#]GKHI(GKJ(0OSULM(/IGUN]b(/IGN(=G[IQi,(#IKNIPQ(^TP('LQIGQI(#TKNPTU(GKJ(0PI[IKNLTK(f#'#g,()*('IFGPNXIKN(T^(/IGUN](GKJ(/OXGK(
*IP[LMIQ,(A5(WOU\(A885,(]NNFbccaaa,MJM,HT[cMULXGNIM]GKHIcI^^IMNQc]IGN,]tm.
!'
Table 1: Common Heat‐Related Illness
4?CD(FCG>X(["5E6*"6--6/!/6+*0"757!;;@"!"';75/3-"+8"5>!;;":;65/3-50"'!7531"8-+>"3H'3556=3"5F3!/6*BC
)UITUFIX(L23"F3;;DE*+F*"5@>,/+>5"+8"-310",!6*87;0"!*1"!:*+->!;;@"F!->"5E6*"!8/3-"57*"3H,+57-3C"4*"
QI[IPI(MGQIQ(QOKSOPK(XG\(MGOQI(QaIUULKH(T^(N]I(QVLK`(SULQNIPQ`(^I[IP`(GKJ(]IGJGM]IQ,
4?CD(OFCBHGX(0GLK^OU(QFGQXQ`(OQOGUU\(LK(N]I(XOQMUIQ(T^(N]I(UIHQ(GKJ(GSJTXIK`(MGOQIJ(S\(G(JIFUINLTK(
T^(N]I(STJ\dQ(QGUN(GKJ(XTLQNOPI(^PTX(]IG[\(QaIGNLKH,
4?CD(?Z>CUGDAMIX(<H'3556=3"5F3!/6*B0"8!5/"!*1"F3!E",7;53"-!/30"8!5/"!*1"52!;;+F":-3!/26*B0"!*1"'+;10"
FGUI(GKJ(MUGXX\(QVLK,
4?CD(GDFM]?X(+(PGFLJ(PLQI(LK(STJ\(NIXFIPGNOPI(fNT(78Dm1(GKJ(]LH]IPg(GKJ(G(^GLUOPI(T^(N]I(QaIGNLKH(
XIM]GKLQX,(/IGN(QNPTVI(LQ(G(QI[IPI(XIJLMGU(IXIPHIKM\(N]GN(MGK(SI(^GNGU(L^(KTN(NPIGNIJ(LXXIJLGNIU\,AC
(
IDEAS IN ACTION
%)$i?,F$9:D>R(9bb/R(D>?(CJ?FCQ?(
D?BH?FCDUF?G( AI( #>AOCQM(
&#+1"#=$ +$ Oj$ F#+&$ "-'"<$ M-."$
C( >?CD( AIE?Z( MP( 99ac( :( CIE(
D?BH?FCDUF?G( PCA@AIQ( DM( PC@@(
T?@MV( a<c( :( CD( IAQ>D.( %>?(
"#+.$ M+C#$ 1().-)?#=$ /(&$ 4-W$ =+F4$ M-."$ D+44-C#$
HMV?F( MUDCQ?G( CIE( F?GU@D?E( AI( /\/( >?CDSF?@CD?E(
PCDC@ADA?GR(\=a(E?CD>G(PFMB(>?C@D>(HFMT@?BG(PUFD>?F(
1(D;,-1+.#=$AF$"#+.$#W;(4?&#<$+)=$."(?4+)=4$(/$
;#(;,#$ "(4;-.+,-`#=$ M-."$ "#+.Q&#,+.#=$ 4FD;.(D4G$
d(,,(M-)'$ ."-4$ .&+'#=F<$ ."#$ 1-.F$ -D;,#D#).#=$ +)$
!ZDF?B?([?CD>?F(1H?FCDAMIG(6@CI(DM(F?EUO?(D>?(
ABHCOD(MP(PUDUF?(>?CD(VCJ?G(MI(>UBCI(>?C@D>.(%>?(
H@CI(AIGDADUD?E(C(0CDAMIC@([?CD>?F()?FJAO?(HUT@AO(
M+&)-)'$4F4.#D$."+.$-)$.?&)$D(A-,-`#4$1-.F$4#&C-1#$
=#;+&.D#).4$-)$."#$#C#).$(/$+$X"#+.$M+.1"Y$.($+,#&.$
D>?(HUT@AO(CIE(BMIADMF(JU@I?FCT@?(HMHU@CDAMIG(CD(
4#)-(&$ /+1-,-.-#4$ +)=$ "(4;-.+,$ #D#&'#)1F$ &((D4G$
%>?( !ZDF?B?([?CD>?F( 1H?FCDAMIG( 6@CI( VCG( HUD(
DM(D>?(D?GD(GMMI(CPD?F(ABH@?B?IDCDAMIR(CIE(BMF?(
."+)$9<888$;#(;,#$M#&#$.&+)4;(&.#=$.($*"-1+'(\4$
1((,-)'$1#).#&4$()$."#$=+F$(/$+$]+.-()+,$a#+."#&$
@#&C-1#\4$X#W1#44-C#$"#+.$M+&)-)'GY
!"#$%&$'(")*+,-./0*12$.*23.$45,6-*+47.-*8.,9/*:#$*;".*<#;*!43.-*
2".,9=>*?%4@.$-4;/*#:*A.B*C.D45#)*EF28EG*HIIJ
J;'&3,&A+&5:%"+%,+&0>,Q&/(&
4C((%:>*?&A&.%"+R0%$"+%8&3$$*%,,P
IGN_PIUGNIJ(LUUKIQQIQ(GPI(KTN(ULXLNIJ(NT(
+*3"53B>3*/"+8"/23",+,7;!/6+*a"!*@+*3"
MGK(QO^^IP(^PTX(N]I(I^^IMNQ(T^(T[IP]IGNLKH(
GKJ(JI]\JPGNLTK,(/TaI[IP`(QTXI(FITFUI(
GPI(GN(HPIGNIP(PLQV(N]GK(TN]IPQ(JOI(NT(GHI`(
TMMOFGNLTK(TP(XIJLMGU(MTKJLNLTKQ`(GKJ(XG\(
PIeOLPI(QFIMLGU(GNNIKNLTK(GKJ(XTKLNTPLKH,(
.]I(IUJIPU\(GPI(GN(G(]LH](PLQV(T^(]IGN_PIUGNIJ(
XTPNGULN\(GQ(N]I\(GPI(XTPI(ULVIU\(NT(UL[I(GUTKI(
!*1P+-"2!=3",-3D3H65/6*B"23!;/2"'+*16/6+*5"
/2!/"3H!'3-:!/3"23!/D-3;!/31"6;;*35535C""
;TOKH(M]LUJPIK(GKJ(LK^GKNQ(GPI(JIFIKJIKN(
OFTK(TN]IPQ(NT(VIIF(N]IX(]\JPGNIJ(GKJ(
NT(PIHOUGNI(N]ILP(IK[LPTKXIKNGU(MTKJLNLTKQ,((
0ITFUI(a]T(GPI(TSIQI(TP(T[IPaILH]N(NIKJ(NT(
PINGLK(XTPI(STJ\(]IGN,(0ITFUI(a]T(FIP^TPX(
5/-3*7+75"F+-E"+-"3H3-'653"+7/1++-50"!5"
aIUU(GQ(N]I(]TXIUIQQ`(POK(G(]ILH]NIKIJ(PLQV(
+8"132@1-!/6+*"!*1"+=3-3H,+57-3"/+"23!/C""
+JJLNLTKGUU\(FITFUI(a]T(QO^^IP(^PTX(XIKNGU(
LUUKIQQ(TP(M]PTKLM(XIJLMGU(MTKJLNLTKQ`(TP(a]T(
GPI(NGVLKH(MIPNGLK(XIJLMGNLTKQ(fQOM](GQ(N]TQI(
^TP(FTTP(MLPMOUGNLTK(TP(]LH](SUTTJ(FPIQQOPIg(
]G[I(G(]LH]IP(PLQV(^TP(]IGN_PIUGNIJ(LUUKIQQ,
/
Q)""_<H/-3>3"I3!/O"["T-3=3*/6+*"U7613"/+"T-+>+/3"n+7-"T3-5+*!;"I3!;/2"!*1"9!83/@f"N3*/3-5"8+-"k653!53"N+*/-+;"!*1"T-3=3*/6+*C"Q$$iC"
!(
9/3,5"/+"317'!/3"!*1",-3,!-3"3>,;+@335"!*1"/23",7:;6'"+*"/23"-65E5"+8"3H/-3>3"23!/"
/IGN_PIUGNIJ(LUUKIQQ(MGK(SI(JGKHIPTOQ`(SON(LN(LQ(GUQT(FPI[IKNGSUI,(
!"-4$4#1.-()$"-'",-'".4$4.#;4$."+.$"#+,."$(/31-+,4$1+)$.+I#$.($D-)-D-`#$."#$&-4I$(/$"#+.$4.,$
+D()'$#D;,(F##4$+)=$."#$;?A,-1G$>=#+4$-)1,?=#k
!" <*'+7-!B3"3>,;+@335"/+"5'2317;3"!*@"+7/1++-"F+-E"!'/6=6/635"+-"3H3-'653"17-6*B"'++;3-"
FGPNQ(T^(N]I(JG\`(IQFIMLGUU\(JOPLKH(QOXXIP(XTKN]Q, #
!" J!E3"'++;";6^7615"!=!6;!:;3"6*"@+7-"+8.'30"!=+616*B":3=3-!B35"/2!/"'!*"3H!'3-:!/3"/23"3883'/5"
T^(JI]\JPGNLTK(fQOM](GQ(N]TQI(MTKNGLKLKH(MG^^ILKI`(]LH](GXTOKNQ(T^(QOHGP`(TP(GUMT]TUg, $
!" %TKLNTP(IXFUT\IIQ`(IQFIMLGUU\(N]TQI(a]T(]G[I(]LH]IP(PLQV(T^(]IGN_PIUGNIJ(LUUKIQQ, ! $
!" 3K^TPX(IXFUT\IIQ(T^(QNIFQ(N]I\(MGK(NGVI(NT(G[TLJ(]IGN_PIUGNIJ(LUUKIQQ`(QOM](GQ(JPLKVLKH(FUIKN\(
+8"G76150"F3!-6*B";6B2/"!*1";++53".//6*B"';+/26*B0"!*1"!=+616*B"5,6'@"8++15C #
!" L-!6*"3>,;+@335"/+"-3'+B*6K3"!*1"/-3!/"/23"56B*5"+8"23!/D-3;!/31"6;;*355"6*"/23>53;=35"!*1"
TN]IPQ,A> !
!"#$/(,,(M-)'$+&#$4?''#4.#=$#,#D#).4$+$;?A,-1$"#+,."$+'#)1F$D-'".$-)1(&;(&+.#$-).($+$
1(D;&#"#)4-C#$"#+.QM+C#$()4#$;,+)G$!"#4#$4.#;4$1+)$A#$?4#=$.($#=?1+.#$+)=$;&#;+&#$F(?&$
,(1+,$1(DD?)-.F$/(&$#W.&#D#$"#+.$#C#).4k\/
!"
""[55355"3H65/6*B"23!/D23!;/2"!'/6+*",;!*5"/+"613*/68@"3883'/6=3"317'!/6+*"!*1"-35,+*53"""
"
( (QNPGNIHLIQ(GKJ(TFFTPNOKLNLIQ(^TP(LXFPT[IXIKN,!
( (*OHHIQNIJ(FPLKMLFUIQ(^TP(JI[IUTFLKH(G(]IGN_aG[I(PIQFTKQI(FUGK(LKMUOJIb
Y"""413*/68@"!";3!1"!B3*'@"!*1",!-/6'6,!/6*B"+-B!*6K!/6+*5
Y"""?53"5/!*1!-16K31"F!-*6*B"5@5/3>5
Y"""<17'!/3"!*1"'+>>7*6'!/3"F6/2"/23",7:;6'
Y"""4>,;3>3*/"-35,+*53"5/-!/3B635"/2!/"/!-B3/"26B2D-65E",+,7;!/6+*5
Y"""N+;;3'/"!*1"3=!;7!/3"6*8+->!/6+*"!*1"-3=653",;!*5"F23*"*33131AD
!"
" 45573"/6>3;@",7:;6'"F!-*6*B5"+8"3H/-3>3"23!/"3=3*/5"!*1"16553>6*!/3"-3!;D/6>3"6*8+->!/6+*"
T^(LXFGMNQ(NT(MLN\(QIP[LMI(JIFGPNXIKNQ,(l!
!"
""X!653",7:;6'"!F!-3*355"+8"/23"1!*B3-5"+8"3H/-3>3"23!/"!*1"F!@5"/+">6*6>6K3"/23"-65E"+8"" "
( ((]IGN_PIUGNIJ(LUUKIQQIQ(fQOM](GQ(N]TQI(ULQNIJ(LK(.GSUI(7g`(IQFIMLGUU\(GN(N]I(QNGPN(T^(QOXXIP,(l!
!"
(("KQOPI(GSLULN\(T^(]IGUN](MGPI(GKJ(QTMLGU(QIP[LMI(QIMNTPQ(NT(JIUL[IP(QIP[LMIQ(JOPLKH(]IGN(aG[IQ`((
( ((IQFIMLGUU\(GXTKH(^GMLULNLIQ(ULVI(QIKLTP(MIKNIPQ(N]GN(QIP[I(]LH]_PLQV(FTFOUGNLTKQ,(l!
!"
((*OFFTPN(HPIIK]TOQI(HGQ(IXLQQLTKQ(PIJOMNLTK(I^^TPNQ`(QOM](GQ(NPII(FUGKNLKH(GMNL[LNLIQ(TP((
(
( ((FGLKNLKH(PTT^Q(a]LNI(LK(QOKK\(MULXGNIQ,(#
!"
((("QNGSULQ](G(MTTULKH(MIKNIP(aLN](GMMIQQLSUI(NPGKQFTPNGNLTK`(IQFIMLGUU\(^TP([OUKIPGSUI(
FTFOUGNLTKQ`(QOM](GQ(IUJIPU\`(JLQGSUIJ(GKJ(]TXISTOKJ(LKJL[LJOGUQ,A@((ll(fTP(#"68"!"'3*/3-"Z75/"
KIIJQ(NT(SI(GFFTLKNIJ_(I,H,(N]I(ULSPGP\`(^GLPHPTOKJQ`(INM,g
QV""W4A9I"Q$$ia"NkN"Q$$i
Q#"[*!;6/650"[*/+*65"3/"!;C"_4>,-+=6*B",7:;6'"23!;/2"-35,+*535"/+"3H/-3>3"F3!/23-P23!/DF!=3o<7-+I<[LCf"M+-;1"I3!;/2"A-B!*6K!/6+*"<7-+,3C"Q$$iC"
aaa,IOPT,a]T,LKNc'TMOXIKNc"5A>@>,FJ^
AD((:IPKGPJ`(*OQGK(%(GKJ(%LM]GIU(+(%M4II]LX,(h%OKLMLFGU(/IGN(=G[I(!IQFTKQI(0UGKQ`i(+XIPLMGK(WTOPKGU(T^(0OSULM(/IGUN](5>`(KT(5,(A88>
Qe"[*!;6/650"[*/+*65"3/"!;C"_4>,-+=6*B",7:;6'"23!;/2"-35,+*535"/+"3H/-3>3"F3!/23-P23!/DF!=3o<7-+I<[LCf"M+-;1"I3!;/2"A-B!*6K!/6+*"<7-+,3C"Q$$iC"
aaa,IOPT,a]T,LKNc'TMOXIKNc"5A>@>,FJ^
!)
$‐$$$$ 3KJLMGNIQ(IQNLXGNIJ(MTQN(^TP(LXFUIXIKNGNLTK
!‐!!!!3KJLMGNIQ(MGFGMLN\(fQNG^^(NLXIg(KIIJIJ(^TP(LXFUIXIKNGNLTK
#(2LXLNIJ(TP(KT(MTQN(TP(MGFGMLN\(KIMIQQGP\
014/90)14
_[-3"n+7"X3!1@"8+-"!"I3!/"M!=3bf"
+(FPIFGPIJKIQQ(NLF(Q]IIN(^PTX(N]I(+XIPLMGK(!IJ(#PTQQ`(1"%+`(&$++
2//,OPPFFFC-31'-+55C+-BPFFFD.;35Pk+'7>3*/5P,18PT-3,!-31*355P[-3n+7X3!1@P
+PI;TO!IGJ\^TPG/IGNaG[I,FJ^
h2IGPKLKH(GSTON()PSGK(/IGN(3QUGKJQi(+K(T[IP[LIa(^PTX(N]I(/IGN(3QUGKJ(4PTOF,(]NNFbccIINJ,USU,HT[c
/IGN3QUGKJc2"+!&c
_<H/-3>3"I3!/O"["T-3=3*/6+*"U7613"/+"T-+>+/3"n+7-"T3-5+*!;"I3!;/2"!*1"9!83/@f"
NkN"<H/-3>3"I3!/"F3:",!B3C"2//,OPPFFFC:/C'1'CB+=P165!5/3-5P3H/-3>323!/P23!/pB7613C!5,
_<H/-3>3"I3!/f"["`313-!;"<>3-B3*'@"J!*!B3>3*/"[B3*'@"&`<J[("8!'/"5233/C
2//,OPPFFFC/!;;@-31'-+55C+-BP;6:-!-@P`9D<H/-3>3I3!/C,18
2341A41&-A!!10<4&3<&KM9H
A
Q(MULXGNI(FGNNIPKQ(Q]L^N`(M]GKHIQ(LK(N]I(JLQNPLSONLTK(GKJ(LKMLJIKMI(T^(MTXXOKLMGSUI(JLQIGQI(
NPGKQXLQQLTK(GPI(]LH]U\(ULVIU\,A-(#ULXGNLM(^GMNTPQ(ULVI(NIXFIPGNOPI(GKJ(FPIMLFLNGNLTK(MTLKMLJLKH(aLN](
Q]L^NQ(LK(NPGJI`(NPG[IU`(UGKJ(OQI`(GKJ(JIXTHPGF]LMQ(GPI(ULVIU\(NT(G^^IMN(N]I(TMMOPPIKMI(T^([IMNTP_STPKI(
JLQIGQI(LK(N]I()KLNIJ(*NGNIQ(GKJ(GPTOKJ(N]I(aTPUJ,A5(
#TXXOKLMGSUI(JLQIGQIQ(MGK(QFPIGJ(eOLMVU\`(IQFIMLGUU\(LK(JIKQIU\(FTFOUGNIJ(GPIGQ(a]IPI(FITFUI(UL[I(GKJ(
F+-E"6*"';+53",2@56'!;",-+H6>6/@"F6/2"+*3"!*+/23-C"?-:!*"!-3!5"!-3"!;-3!1@"3H,3-63*'6*B",+,7;!/6+*"B-+F/2"
!*1">!@"'+*/6*73"/+"3H,!*1"68"[>3-6'!*5"&+-"';6>!/3"-387B335"8-+>"+/23-"'+7*/-635("-3;+'!/3"/+"!=+61"/23"
2!->87;"3883'/5"+8"';6>!/3"'2!*B3"57'2"!5"23!/"F!=350"53!";3=3;"-6530".-350"!*1"G++15C"[5"3H/-3>3"F3!/23-"
I[IKNQ(SIMTXI(XTPI(MTXXTK(LK(N]I()KLNIJ(*NGNIQ`(KTPN]IPK(MLNLIQ(LK(FGPNLMOUGP(GPI(FPIFGPLKH(^TP(
!*"6*G7H"+8"_';6>!/3"-387B335Cf"L265"'+7;1"6>,!'/";+'!;",7:;6'"23!;/2"13,!-/>3*/5"!*1"/236-"!:6;6/@"/+"
PIQFTKJ(NT(MULXGNI(LXFGMNQ(GQ(MIPNGLK(PIHLTKQ(SIMTXI(XTPI(FTFOUGNIJ,C8
.'G&)$>7"+%&);"*?%&A((%6+,&)'77C*>6"#$%&2>,%",%
ULXGNI(M]GKHI(LQ(FPIJLMNIJ(NT(SI(XTQN(GMONI(LK(^GP(KTPN]IPK(PIHLTKQ(fL,I,(GaG\(^PTX(N]I(
<^7!/+-(a"/23-38+-30"/23"5268/5"6*"165/-6:7/6+*"!*1"6*'613*'3"+8"'+>>7*6'!:;3"1653!535">!@":3"
XTPI(JPGQNLM(LK(PIHLTKQ(QOM](GQ(N]I(KTPN]IPK()KLNIJ(*NGNIQ(GKJ(#GKGJG`(a]LM](GPI(GPIGQ(a]IPI(
#
Qd""M+-;1"I3!;/2"A-B!*6K!/6+*"&MIA(C"N;6>!/3"'2!*B3"!*1"27>!*"23!;/2"D"-65E5"!*1"-35,+*535O"97>>!-@C"Q$$)C"49SW"iQV%#i$d%#C"
A5((4GHI`(EIKKIN](IN(GU,`(h#ULXGNI(GKJ(9IMNTPSTPKI('LQIGQIQ`i(+XIPLMGK(WTOPKGU(T^(0PI[IKNL[I(%IJLMLKI(CZ`(KT,(Z(f77`(A88-gb(>CD_>Z8,
C8((!TSIPN(%M#UOPI`(h*NGNI(KTN(PIGJ\(^TP(nMULXGNI(PI^OHIIQd`i(*IGNNUI(0_3(TKULKI`(]NNFbccaaa,QIGNNUIFL,MTXcUTMGUcC555Z-YMULXGNI7C,]NXU,
"*
FITFUI(GPI(ULVIU\(NT(PIUTMGNI,C7""I65/+-6'!;;@0",3-6+15"+8"-!,61"7-:!*6K!/6+*"2!=3"-357;/31"6*"6*'-3!531"
LKMLJIKMIQ(T^(LK^IMNLTOQ(JLQIGQI(N]PTOH](G(MTXSLKGNLTK(T^(FT[IPN\`(LKJTTP(MPTaJLKH`(GKJ(JIMPIGQIJ(
3*=6-+*>3*/!;"^7!;6/@C"92+7;1"';6>!/3"'2!*B3";3!1"/+"-!,61"7-:!*6K!/6+*"/2-+7B2"27>!*">6B-!/6+*50"
N]IPI(LQ(N]I(FTNIKNLGU(NT(LKMPIGQI(N]I(XTSLULN\(T^(LK^IMNLTOQ(JLQIGQI(GKJ(I[IK(HL[I(PLQI(NT(KIa(
JLQIGQIQ,CA((
'LQIGQIQ(NPGKQXLNNIJ(S\(XTQeOLNTIQ`(NLMVQ`(GKJ(TN]IP([IMNTPQ(GPI(
!;5+",-+Z3'/31"/+"6*'-3!53"F6/2"F!->3-"/3>,3-!/7-350"!*1"6*'-3!531"
!''355"/+"_5/6;;f"F!/3-"8-+>"G++16*B"3=3*/5C"M35/"W6;3"l6-750"k3*B73"
1I[IP`(2\XI(JLQIGQI`(GKJ(%GUGPLG(XG\(SIMTXI(XTPI(GFFGPIKN(LK(
MIPNGLK(FGPNQ(T^(N]I()KLNIJ(*NGNIQ,
#TXXOKLMGSUI(JLQIGQIQ(GPI(QOSJL[LJIJ(LKNT(N]PII(MGNIHTPLIQ(SGQIJ(TK(
N]I(QTOPMI(T^(LK^IMNLTKb
ST& U@''*',%,V_(JLQIGQIQ(NPGKQXLQQLSUI(^PTX(GKLXGUQ(NT(FITFUI(fI,H,(ILN]IP(JLPIMNU\(NPGKQXLNNIJ(
ULVI(PGSLIQ(TP(N]PTOH](LKJLPIMN`([IMNTP_STPKI(NPGKQXLQQLTK(ULVI(2\XI(JLQIGQIg
WT&U,"=:'*',%,V_(JLQIGQIQ(NPGKQXLQQLSUI(
^PTX(GSLTNLM(IK[LPTKXIKN(QOM](GQ(aGNIP`(
QTLU`(GKJ(JIMG\LKH(XGNIPLGU(NT(]OXGKQ(
fI,H,(STNOULQX(GKJ(NINGKOQg
((<"4:+-B(C,/(GHHI
XT&U"*+;:'='*',%,V(_(JLQIGQIQ(
NPGKQXLQQLSUI(^PTX(]OXGK(NT(]OXGK(
fI,H,(ILN]IP(JLPIMNU\(NPGKQXLNNIJ(ULVI(
XIGQUIQ(GKJ(NOSIPMOUTQIQ(TP(N]PTOH](
[IMNTP_STPKI(NPGKQXLQQLTK`(QOM](GQ(
XGUGPLG(GKJ(JIKHOI(^I[IPgCC
J;>6;&-'=C$"+>'*,&A:%&I',+&BC$*%:"#$%P
6-3'/;@"/-!*5>6//31"!*/2-+,+*+535"6*';713"!"*7>:3-"+8"1653!535"&3CBC"6*G73*K!("/2!/"!883'/"
JL^^IPIKN(FTFOUGNLTKQ(JL^^IPIKNU\,(3K(HIKIPGU`(]TaI[IP`(N]IQI(JLQIGQIQ(FTQI(N]I(HPIGNIQN(PLQV(NT(
\TOKH(M]LUJPIK`(N]I(IUJIPU\`(GKJ(NT(FITFUI(aLN](MTXFPTXLQIJ(LXXOKI(Q\QNIXQ,(*TXI(JLQIGQIQ(GPI(
5,3'6.'"/+"!"'3-/!6*"-3B6+*"+-"';6>!/3a"8+-"3H!>,;30"6*G73*K!"65"B3*3-!;;@"E*+F*"!5"!"_26B2";!/6/713f"
JLQIGQI,(+Q(MULXGNI(M]GKHI(MGOQIQ(N]I(JLQNPLSONLTK(T^(JLQIGQI_MGOQLKH(XLMPTSIQ(NT(Q]L^NQ(N]PTOH](
3'+5@5/3>"'2!*B35"!*1"27>!*">6B-!/6+*0"3*/6-3",+,7;!/6+*5">!@".*1"/23>53;=35"3H,+531"/+"
JLQIGQIQ(^TP(a]LM](N]I\(]G[I(JI[IUTFIJ(KT(LXXOKLN\,C>(0ITFUI(LK(UTa_LKMTXI(GPIGQ(TP(MPTaJIJ(
]TOQLKH(XG\(SI(XTQN(GN(PLQV,(
'
C7((4PIIP`(+X\`(9LMNTPLG(&H(GKJ('G[LJ(1LQXGK,(h#ULXGNI(M]GKHI(GKJ(LK^IMNLTOQ(JLQIGQIQ(LK(&TPN](+XIPLMGb(N]I(PTGJ(G]IGJ,i(#GKGJLGK(%IJLMGU(+QQTMLG_
/6+*"m+7-*!;C"J!-"Q$$da"%edO"e%#"D"eQQC
CA((#TXXLNNII(TK(#ULXGNI`("MTQ\QNIXQ`(3K^IMNLTOQ('LQIGQI`(GKJ(/OXGK(/IGUN](f##"3'//g,()KJIP(N]I(=IGN]IPb(#ULXGNI`("MTQ\QNIXQ`(GKJ(3K^IMNLTOQ(
'LQIGQI,(A887,(&GNLTKGU(!IQIGPM](#TOKMLU`(=GQ]LKHNTK`('#,
J'J6'2!3;0"[*/2+*@"mC"_L23"7-:!*"3*=6-+*>3*/"!*1"23!;/2"6*"!"F+-;1"+8"6*'-3!56*B"B;+:!;6K!/6+*O"655735"8+-"13=3;+,6*B"'+7*/-635Cf"S7;;3/6*"+8"/23"M+-;1"
I3!;/2"A-B!*6K!/6+*C"Q$$$C"l+;7>3"id0"65573"iC"T,C"%%%eD%%QRC
CC((/OSoUIV`(6JIKIV,(h"XIPHLKH(/OXGK(3K^IMNLTOQ('LQIGQIQb(+KN]PTFTKTQIQ`(6TTKTQIQ`(GKJ(*GFPTKTQIQi,("XIPHLKH(3K^IMNLTOQ('LQIGQIQ(jQIPLGU(TKULKIk,(
%GPM](A88C,(#IKNIPQ(^TP('LQIGQI(#TKNPTU(GKJ(0PI[IKNLTK,(A8(+OHOQN(A885,(]NNFbccaaa,MJM,HT[cKMLJTJc"3'c[TU5KTCc8A_8A8-,]NX
C>((##"3'//(A887
"!
!"#$%"&'('")(*+,-'.%(*/'"0%
>)Z?#)`+$5(&$X."#$Z?Y6$-4$+$"-'",F$1().+'-(?4$-&+.(&F$-)/#1.-()$."+.$1+)$1+?4#$;)#?D()-+$+)=$#C#)$
=#+."$-)$C?,)#&+A,#$'&(?;4$4?1"$+4$1"-,=&#)<$."#$#,=#&,F$+)=$."#$-DD?)(1(D;&(D-4#=G$!"#$Z?$C-&?4<$
V>AO>(AG(GHF?CE(PFMB(H?FGMI(DM(H?FGMI(D>FMUQ>(CAFTMFI?(GC@AJC(KPFMB(OMUQ>AIQ(CIE(GI??WAIQLR(>CG(T??I(
()4-A,#$/(&$+.$,#+4.$."&##$;+)=#D-14$(C#&$."#$,+4.$1#).?&F$+)=$-)/#1.4$D-,,-()4$(/$;#(;,#$M(&,=M-=#$
#+1"$F#+&G$
>)Z?#)`+<$,-I#$(."#&$-&+.(&F$-,,)#44#4<$#W"-A-.4$4#+4()+,$-)1&#+4#4$=?&-)'$1(,=#&$D()."4$5M"-1"$+&#$
1(DD(),F$1+,,#=$X1(,=$+)=$Z?$4#+4()Y6G$T,."(?'"$."#$&#,+.-()4"-;$A#.M##)$4#+4()+,-.F$+)=$-)1&#+4#=$
-)1-=#)1#$(/$1(,=$+)=$Z?$-4$;((&,F$?)=#&4.((=<$.M($;(44-A,#$#W;,+)+.-()4$+&#<$96$1(,=$.#D;#&+.?$
1+?4-)'$4.&+-)#=$-DD?)#$4F4.#D4<$+)=$^6$D(&#$.-D#$4;#).$-)$.-'".$-)=((&$N?+&.#&4G$>)1&#+4#=$-)=((&$
1&(M=-)'<$M"#."#&$=?#$.($?)?4?+,,F$1(,=$(&$?)?4?+,,F$M+&D$.#D;#&+.?$+44(1-+.#=$M-."$1,-D+.#$
1"+)'#<$1(?,=$,#+=$.($-)1&#+4#=$-)1-=#)1#$(/$1(,=<$Z?<$+)=$(."#&$=-.,F$.&+)4D-..#=$-,,)#44#4G$%)$
D>?(MD>?F(>CIER(AP(OM@E(V?CD>?F(ADG?@P(AG(F?GHMIGAT@?(PMF(G?CGMIC@(A@@I?GG?GR(C(VCFB?F(O@ABCD?(>CG(D>?(
HMD?IDAC@(DM(F?EUO?(D>?(AIOAE?IO?(MP(GMB?(D>?G?(A@@I?GG?G(AI(GMB?(CF?CG.(
29]9$5X4M-)#$Z?Y6$-4$+$)#M$-)Z?#)`+$C-&?4$."+.$M+4$3&4.$=#.#1.#=$-)$."#$E)-.#=$@.+.#4$-)$T;&-,$^88mG$
29]9$-4$4;&#+=$D(4.$1(DD(),F$."&(?'"$1(?'"-)'$+)=$4)##`-)'$+)=$A#1+D#$M-=#4;&#+=$-)$OP$4.+.#4$
-)$#+&,F$/+,,$^88mG$d,?Q&#,+.#=$"(4;-.+,-`+.-()$+)=$=#+."4$+&#$+A(C#$."#$#W;#1.#=$+C#&+'#4$/(&$&#'?,+&$
Z?$4#+4()4$+)=$."#&#$-4$4(D#$1()1#&)$."+.$."#4#$.F;#4$(/$)#M$C-&?4#4$D+F$A#1(D#$D(&#$1(DD()$
CIE(GHF?CE(PCGD?F(VAD>(C(O>CIQAIQ(O@ABCD?.((:@U.QMJ(HFMJAE?G(AIPMFBCDAMI(MI(JCOOAICDAMIR(HF?J?IDAMI(CIE(
DF?CDB?ID.
4+%=,&!'&0%8C6%&0>,Q&A7'*?&17=$'D%%,
l#,(M$+&#$.-;4$."+.$;?A,-1$"#+,."$+'#)1-#4$1+)$4"+&#$M-."$#D;,(F##4$-)$(&=#&$.($=#1&#+4#$."#$
FAG](MP(GHF?CEAIQ(AIP?ODAMUG(CBMIQ(D>?(GDCPP.(6F?OCUDAMIG(AIO@UE?X(
!" =GQ]LKH(]GKJQ(^PIeOIKNU\`(IQFIMLGUU\(SI^TPI(XIGUQ`(G^NIP(OQLKH(N]I(PIQNPTTX`(TP(G^NIP(MTXLKH(
6*/+"'+*/!'/"F6/2":+16;@"G7615C #
!" N+=3-6*B"!"'+7B2"+-"5*33K3"/+"-317'3"-65E"+8"3H,+56*B"+/23-5C"#
!" *NG\LKH(]TXI(L^(LUUKIQQ(LQ(QOQFIMNIJ(GKJ(MTKQOUNLKH(G(F]\QLMLGK(L^(Q\XFNTXQ(JT(KTN(LXFPT[I,(#
!" !TONLKIU\(JLQLK^IMNLKH(aTPVQFGMIQ`(PIQNPTTXQ`(GKJ(IGNLKH(GPIGQ, $ !
!" 9GMMLKGNLKH(fSTN](N]I(IXFUT\II(GKJ(]LQc]IP(^GXLU\g(GQ(PIMTXXIKJIJ(S\(G(JTMNTP,($
!" +[TLJLKH(T[IPOQI(T^(GKNLSLTNLMQ(GKJ(TKU\(OQLKH(N]IX(GQ(FPIQMPLSIJ(S\(G(JTMNTP(fT[IP_
FPIQMPLFNLTK(T^(GKNLSLTNLMQ(XG\(UIGJ(NT(KIa(TP(PIQLQNGKN(QNPGLKQ(T^(SGMNIPLG(TP([LPOQIQg,(#
!" M3!-">+5^76/+"-3,3;;3*/"!*1"'23'E"8+-"/6'E5"F23*"=656/6*B"!-3!5"/2!/"2!=3"3H,3-63*'31"
TONSPIGVQ, # =++&...:939:6(>?()$9+(57-+>+$*4($&5(-&+3)9#*4($#1&7(/*+-/&4$&@$614/"&#$3&=7#$4/":IK
CZ((#IKNIPQ(^TP('LQIGQI(#TKNPTU(GKJ(0PI[IKNLTK(f#'#g,(h.]I(n+K($OKMI(T^(0PI[IKNLTKd(#GXFGLHK,i(A>(+FPLU(A88-,('IFGPNXIKN(T^(/IGUN](GKJ(/O_
XGK(*IP[LMIQ,(AZ(+OHOQN(A885,(]NNFbccaaa,MJM,HT[cTOKMIT^FPI[IKNLTKc,(
""
T==-.-()+,,F<$."#&#$+&#$4.#;4$;?A,-1$"#+,."$+'#)1-#4$1+)$.+I#$.($;,+)$/(&$+)=$#)4?&#$1().-)?#=$
MH?FCDAMI(EUFAIQ(CI(AIP?ODAMUG(EAG?CG?(MUDTF?C]X
!" 3JIKNL^\LKH(N]I(QVLUU(QINQ(GKJ(VI\(IXFUT\IIQ(KIIJIJ(NT(PIXGLK(LK(TFIPGNLTK(JOPLKH(G(
MPLQLQ`(GKJ(MPIGNLKH(PIJOKJGKMLIQ(LK(N]TQI(GPIGQ, !
!" #PIGNLKH(GHIKM\_aLJI(FTULMLIQ(PIHGPJLKH(GSQIKMIQ`(FG\PTUU(GKJ(]IGUN]MGPI(JOPLKH(GK(
LK^IMNLTOQ(JLQIGQI(TONSPIGV`(LKMUOJLKH(G(Q\QNIX(^TP(MTKNGMNLKH(IXFUT\IIQ(TONQLJI(T^(
SOQLKIQQ(]TOPQ,(!
!" 'I[IUTFLKH(PIUGNLTKQ]LFQ(aLN](N]I(XIJLMGU(MTXXOKLN\(GKJ(N]I(FOSULM(NT(MTUUIMN(GKJ(
XTKLNTP(LK^IMNLTOQ(JLQIGQI(JGNG(LK(PIGU(NLXI, #
!" "JOMGNLKH(IXFUT\IIQ(GSTON(LK^IMNLTOQ(JLQIGQI(FPI[IKNLTK(GKJ(FPT[LJLKH(LKMIKNL[IQ(NT(
^TUUTa(PLQV_PIJOMNLTK(FPTNTMTUQ(fI,H,(^PII(TP(UTa_MTQN([GMMLKGNLTK(MULKLMQg,CD $
$‐$$$$ 3KJLMGNIQ(IQNLXGNIJ(MTQN(^TP(LXFUIXIKNGNLTK
!‐!!!!3KJLMGNIQ(MGFGMLN\(fQNG^^(NLXIg(KIIJIJ(^TP(LXFUIXIKNGNLTK
#(2LXLNIJ(TP(KT(MTQN(TP(MGFGMLN\(KIMIQQGP\
4+%=,&!'&0%8C6%&-C#$>6&0>,Q&
&I(CEEADAMI(DM(?EUOCDAIQ(D>?(HUT@AO(CTMUD(D>?(FAG](F?EUODAMI(GD?HG(MUD@AI?E(CTMJ?R(HUT@AO(>?C@D>(
+'#)1-#4$D+F$M-4"$.($/(4.#&$+$=##;#&$?)=#&4.+)=-)'$(/$."#$&#,+.-()4"-;$A#.M##)$1,-D+.#$1"+)'#$
+)=$-)/#1.-(?4$=-4#+4#$-)$."#$/(,,(M-)'$M+F4k
!" #TKQLJIP(MOPPIKN(PIQIGPM](GKJ(XTJIUQ(NT(FPIJLMN(FGNNIPKQ(T^(JLQIGQI(NPGKQXLQQLTK !!
Y" 9/!/65/6'!;D3>,6-6'!;">+13;50".-5/D,-6*'6,;3">3'2!*65/6'">+13;50"!*1"6*/3B-!/31"
GQQIQQXIKN(XTJIUQ(MGK(]IUF(NT(LXFPT[I(TOP(OKJIPQNGKJLKH(T^(N]I(PIUGNLTKQ]LF(SINaIIK(
MULXGNI(GKJ(JLQIGQI,
!" "KMTOPGHI(LKNIPJLQMLFULKGP\(MTUUGSTPGNLTK #
Y" N;6>!/3P1653!53";6*E!B35"!-3"!883'/31":@"!"F613"-!*B3"+8"27>!*"!*1"*!/7-!;"5@5/3>50"
!*1"F6;;"-3^76-3"/23"3H,3-/653"!*1"'+;;!:+-!/6+*"+8",-!'/6/6+*3-5"!*1"-353!-'23-5"8-+>"!"
[GPLIN\(T^(JLQMLFULKIQ,
!" =]IK(MTXXOKLMGNLKH(aLN](N]I(FOSULM(fN]PTOH](TKULKI(TP(FPLKN(XGNIPLGUQg`(]LH]ULH]N(N]I(
PIUGNLTKQ]LF(SINaIIK(MULXGNI(M]GKHI(GKJ(MTXXOKLMGSUI(JLQIGQI, #
Y" L23"-3;!/6+*526,":3/F33*"';6>!/3"!*1"1653!53"65",++-;@"7*13-5/++10"!*1"!"133,3-"
7*13-5/!*16*B"+8"/23";6*E!B35"F6;;"23;,",7:;6'"23!;/2"+8.'6!;5",-3,!-3"8+-"87/7-3"
M]GKHIQ,C@
CD(2TOVLJIQ`(#GP\(IN(GU,(+$&(=]LNI(0GFIPb(3K^IMNLTOQ('LQIGQI(LK(N]I(=TPVFUGMI`(h0ITFUI(GN(!LQV,i(+$&(!LQV(*IP[LMIQ,(*IFNIXSIP(A88-,(
C@((#TXXLNNII(TK(#ULXGNI`("MTQ\QNIXQ`(3K^IMNLTOQ('LQIGQI`(GKJ(/OXGK(/IGUN](f##"3'//g,()KJIP(N]I(=IGN]IPb(#ULXGNI`("MTQ\QNIXQ`(GKJ(3K^IMNLTOQ(
'LQIGQI,(A887,(&GNLTKGU(!IQIGPM](#TOKMLU`(=GQ]LKHNTK`('#,
"#
.]I(LXFGMN(T^(MULXGNI(M]GKHI(TK(JLQIGQI(NPGKQXLQQLTK(aLUU(PIeOLPI(UTMGUU\(GFFPTFPLGNI(QNPGNIHLM(
PIQFTKQI(FUGKKLKH(NT(FPIFGPI(FOSULM(]IGUN](IXFUT\IIQ(^TP(Q]L^NLKH([IMNTP_STPKI(JLQIGQI(TONSPIGV(
FGNNIPKQ,(.]I(I^^IMNQ(T^(MULXGNI(M]GKHI(N]GN(UIGJ(NT(JLQIGQI(LKMLJIKMI(QNPINM](GMPTQQ(G(SPTGJ(PGKHI(
T^(QIMNTPQp^PTX(aGNIP(XGKGHIXIKN(NT(NPGKQFTPNGNLTK(Q\QNIXQpGKJ(PIeOLPI(MTTFIPGNLTK(GMPTQQ(
GHIKMLIQ,(0OSULM(]IGUN](GHIKMLIQ(MGK(OQI(MOPPIKN(XTJIUQ(GKJ(PIQIGPM](NT(IJOMGNI(N]I(FOSULM(TK(PLQVQ(
GKJ(aG\Q(NT(FPIFGPI,
JA!10
J
GNIP(FUG\Q(G(^OKJGXIKNGU(PTUI(LK(FPTNIMNLKH(TOP(IK[LPTKXIKN(GKJ(XGLKNGLKLKH(G(]IGUN]\(
eOGULN\(T^(UL^I,(+Q(FPIMLFLNGNLTK(FGNNIPKQ(Q]L^N(fI,H,(XTPI(QKTa(^GUULKH(GQ(PGLK(GKJ(XTPI(
PGLK(^GUULKH(LK(G(Q]TPNIP(GXTOKN(T^(NLXIg(GKJ(G[IPGHI(NIXFIPGNOPIQ(PLQI`(JPTOH]NQ(GKJ(
G++15"!-3";6E3;@"/+"+''7-">+-3"8-3^73*/;@"!*1"F6/2"B-3!/3-"6*/3*56/@C"L23"=!-6!/6+*5"6*"-!6*8!;;"173"/+"
MULXGNI(M]GKHI(MGK(LXFGMN(aGNIP(G[GLUGSLULN\(GKJ(eOGULN\`(LKMPIGQLKH(N]I(PLQV(T^(aGNIP_STPKI(JLQIGQI,(
S+/2"!*"3H'355"&6C3C"G++15("!*1"5'!-'6/@"&6C3C"1-+7B2/5("+8"F!/3-"'!*"'+>,-+>653"/23"5!83/@"+8"
JPLKVLKH(aGNIP(QOFFULIQ(GKJ(N]PIGNIK(]OXGK(]IGUN],C-(
?*13-"/2353"'2!*B6*B"'+*16/6+*50"53!8++1"/+H6'6/@"65":3'+>6*B">+-3"'+>>+*"173"/+"6*'-3!56*B"
QOP^GMI(aGNIP(NIXFIPGNOPI(LK(N]I(TMIGK(GKJ(GHPLMOUNOPGU(FTUUONGKN(POKT^^(LK(PL[IPQ(fNT(XGKGHI(
M]GKHIQ(LK(FIQNQ(GKJ(MULXGNLM(MTKJLNLTKQg,(.]LQ(FTQIQ(G(HPIGNIP(PLQV(NT(]OXGKQ(XIPMOP\(FTLQTKLKH(
8-+>"/23"'+*57>,/6+*"+8"/2353"/+H6'".52"!*1"523;;.52C"N+*57>6*B"'+*/!>6*!/31".52"'!*";3!1"/+"
KIOPTUTHLMGU(JGXGHI`(PIQFLPGNTP\(LPPLNGNLTK`(QVLK(LPPLNGNLTK(GKJ(HGQNPTLKNIQNLKGU(LUUKIQQ,C5
!"#$*,-D+.#$0#+=#&4"-;$>)-.-+.-C#$+)=$%&#'()$*(+,-.-()$(/$0(1+,$2#+,."$%/31-+,4$
1()=?1.#=$+$4?&C#F$(/$;?A,-1$"#+,."$M(&I#&4$-)$1(?).F$"#+,."$=#;+&.D#).4$+&(?)=$
%&#'()$+)=$/(?)=$."+.$."#$D+H(&-.F$(/$()=#).4$-)=-1+.#=$."+.$."#-&$"#+,."$
=#;+&.D#).4$"+C#$4(D#$/(&D$(/$&#'?,+.(&F$()4-A-,-.F$(C#&$=&-)I-)'$M+.#&$
N?+,-.FG$*()4-=#&-)'$."#$-D;+1.$(/$;?A,-1$"#+,."$-)$."#-&$1(?).F<$()=#).4$&+)I#=$
=&(?'".$+4$()#$(/$."#$D(4.$4#&-(?4$&#'-()+,$."&#+.4$;(4#=$AF$1,-D+.#$1"+)'#<$
/(,,(M#=$AF$."#$-)1&#+4#=$/&#N?#)1F$+)=$4#C#&-.F$(/$M+.#&QA(&)#$-,,)#44#4G$
.'G&)$>7"+%&);"*?%&A((%6+,&J"+%:&0%,'C:6%,
4!/0I4&A<2&KM//23<5
*MLIKNLQNQ(FPIJLMN(N]GN(QNTPX(LXFGMNQ(^PTX(I[IKNQ(ULVI(]OPPLMGKIQ(GKJ(NPTFLMGU(QNTPXQ(aLUU(MTKNLKOI(
NT(HPTa(LK(QI[IPLN\,(+N(N]I(QGXI(NLXI`(QIG(UI[IUQ(GPI(PLQLKH(^PTX(XIUNLKH(HUGMLIPQ`(XGVLKH(MTGQNGU(GKJ(
;+FD;@6*B"!-3!"-35613*/5"35,3'6!;;@"=7;*3-!:;3"/+"G++15C"M26;3"'+!5/!;"'+7*/635"6*"/23"?*6/31"9/!/35"
MTKQNLNONI(TKU\(7@q(T^(UGKJ(GPIG`(N]I\(GMMTOKN(^TP(ZCq(T^(N]I(FTFOUGNLTK(GKJ(LN(LQ(IQNLXGNIJ(N]GN(
)d""M+-;1"I3!;/2"A-B!*6K!/6+*"_N;6>!/3"N2!*B3"65"[883'/6*B"+7-"I3!;/2O"9+>3/26*B"52+7;1":3"1+*3"*+Ff"Q$$i"2//,OPPFFFCF2+C6*/PB;+:!;'2!*B3P
,7:;6'!/6+*5P8!'/5233/5P';6>!/3p'2!*B3p23!;/2p:-+'27-3P3*P6*13HC2/>;
C5((0]\QLMLGKQ(^TP(*TMLGU(!IQFTKQLSLULN\,(h.]I(%IJLMGU(GKJ(0OSULM(/IGUN](3XFGMNQ(T^(4UTSGU(=GPXLKHi(]NNFbccaaa,FQP,TPHcGQQINQcFJ^QcHUTSGU_aGPXLKH_
^GMN_Q]IIN,FJ^
"$
MUTQI(NT(@Zq(T^(+XIPLMGKQ(aLUU(UL[I(LK(MTGQNGU(MTOKNLIQ(S\(A8AZ(GQ(G(PIQOUN(T^(FTFOUGNLTK(XLHPGNLTK(
NT(N]IQI(GPIGQ,(#TGQNGU(MLNLIQ(T^^IP(IXFUT\XIKN(GKJ(PIMPIGNLTK(TFFTPNOKLNLIQ`(GKJ(GPI(GUQT(G(
PINLPIXIKN(JIQNLKGNLTK(^TP(N]I(UGPHI(hSGS\(STTXIPi(HIKIPGNLTK,>8(.]LQ(HPTaN](LK(MTGQNGU(FTFOUGNLTK(
LQ(MTKMOPPIKN(aLN](LKMPIGQIJ(QNTPX(QI[IPLN\(GKJ(QIG_UI[IU(PLQI`(a]LM](MTOUJ(LKNIKQL^\(N]I(KOXSIP(T^(
FITFUI(LXFGMNIJ(S\(aGNIP_PIUGNIJ(IXIPHIKMLIQ,>7((
#ULXGNI(M]GKHI(LQ(JLQPOFNLKH(XGPLKI(IMTQ\QNIXQ(fN]PTOH]`(^TP(
6*5/!*'30"+'3!*"!'616.'!/6+*("!*1"'+*/-6:7/6*B"/+"-656*B"53!"
UI[IUQ(N]GN(G^^IMN(MTGQNGU(GPIGQ`(IQNOGPLIQ`(GKJ(MTGQNGU(^PIQ]aGNIP(
-35+7-'35C"L2353"'2!*B35"!-3"56B*6.'!*/;@"6>,!'/6*B":6+16=3-56/@0"
a]LM](LK(NOPK(]GQ(QIPLTOQ(LXFULMGNLTKQ(^TP(]OXGK(]IGUN],(#TGQNGU(
G++16*B"'!*"-357;/"6*"165!5/-+75"27>!*0"3*=6-+*>3*/!;0"!*1"
3'+*+>6'"'+5/5"/2!/"6*';713"1-+F*6*B"!*1"6*Z7-6350"5!;/"6*.;/-!/6+*"
T^(^PIQ](aGNIP(NGSUIQ`(GKJ(LK^PGQNPOMNOPI(JGXGHI,>A((3KMPIGQIJ(
'+!5/!;"!*1"6*;!*1"G++16*B"F6;;"!;5+";3!1"/+"165,;!'3>3*/"+8"
FITFUI(GKJ(MTXXOKLNLIQ`(PIQOUNLKH(LK(LKMPIGQIJ(QNPIQQ(NT(XIKNGU(
]IGUN](_(QII(%IKNGU(/IGUN](*IMNLTK(^TP(XTPI(LK^TPXGNLTK,
9/+->"F!/3-"-7*+88"'!--@6*B",+;;7/!*/5";6E3",35/6'6135"!*1"83-/6;6K3-0"3-+56+*0"!*1"53F!B3"+=3-G+F5"
^PTX(]IG[\(FPIMLFLNGNLTK(IFLQTJIQ`(MGK(MTKNGXLKGNI(aGNIP(QOFFULIQ(GKJ(UIGJ(NT(aGNIP_STPKI(JLQIGQI(
+7/:-3!E5C"`+;;+F6*B"I7--6'!*3"g!/-6*!0",7:;6'"23!;/2"+8.'6!;5"-3,+-/31"-35,6-!/+-@"!*1"16!--23!;"
JLQIGQI(MTXXTK(GXTKH(PIQMOI(aTPVIPQ,(+JJLNLTKGUU\`(G(FPLXGP\(]IGUN](N]PIGN(GQQTMLGNIJ(aLN](N]I(
53=3-3"G++16*B"F!5"/23"3H,+57-3"/+">+;15"6*"G++1D1!>!B31"5/-7'/7-35"!*1"/+H6'"-356173"8-+>"
G++131"'23>6'!;"8!'/+-635"!*1"+6;"-3.*3-635":3/F33*"S!/+*"X+7B3"!*1"W3F"A-;3!*5C>C
L23-3"!-3">+-3"/2!*"Q%$">6;;6+*"-3,+-/31"'!535"&i$$0$$$"2+5,6/!;6K!/6+*5"!*1"R0$$$"13!/25("
T^(aGNIP_(GKJ(^TTJ_STPKI(FGN]THIKQ(LK(N]I()KLNIJ(*NGNIQ(IGM](\IGP,>>(('LQIGQI(TONSPIGVQ(TMMOP(
^PTX(aGNIP(N]GN(LQ(MTKNGXLKGNIJ(S\(SGMNIPLG(fI,H,(*GUXTKIUUG`(*]LHIUUGg`([LPOQIQ(fI,H,(PTNG[LPOQg(GKJ(
,-+/+K+!"&3CBC"U6!-16!";!>:;6!0"!>+3:!50"N-@,/+5,+-6167>0"!*1"N@';+5,+-!(C"M!/3-D:+-*3"1653!53"
-3,;6'!/6+*0"57-=6=!;0",3-565/3*'30"!*1"/-!*5>6556+*"!-3"57:Z3'/"/+"3*=6-+*>3*/!;"6*G73*'35C"[5"
/3>,3-!/7-35"-653"!*1",-3'6,6/!/6+*",!//3-*5"5268/0",!/2+B3*5"!-3"!:;3"/+"3H,!*1"6*/+"16883-3*/"
HITHPGF]LM(GPIGQ,>Z((
JA!10&4)A0)3!N
4*"Q$$d"-35613*/5"+8"/23"F35/3-*"!*1"5+7/23!5/3-*"?*6/31"9/!/35"3H,3-63*'31"/23"/26-1"F+-5/".-3"
QIGQTK(GKJ(FIPLTJ(T^(FIPQLQNIKN(JPTOH]N,>D(4L[IK(N]GN(MULXGNI(M]GKHI(LQ(XIUNLKH(HUGMLIPQ`(M]GKHLKH(
5*+F,!'E0"!*1"5268/6*B"/23"/6>6*B"+8"5*+F>3;/"6*">!*@">+7*/!6*"-3B6+*50"1-+7B2/5"!*1".-3"53!5+*5"
V$""W!/6+*!;"A'3!*6'"!*1"[/>+5,23-6'"[1>6*65/-!/6+*"&WA[[(C"Q$$VC"T+,7;!/6+*"L-3*15"[;+*B"/23"N+!5/!;"?*6/31"9/!/35O"%id$ Q$$dC"
V%""N+;;6*60"g6>:3-;@"!*1"/23"N+!5/!;"9/!/35"A-B!*6K!/6+*"N+!5/!;"X356;63*'3"9/33-6*B"N+>>6//33"_N+!5/!;"N+>>7*6/@"X356;63*'3O"[*"3=!;7!/6+*"+8"
-356;63*'3"!5"!",+/3*/6!;",3-8+->!*'3">3!57-3"+8"/23"N+!5/!;"J!*!B3>3*/"['/f"Q$$d"2//,OPPFFFC'+!5/!;5/!/35C+-BP7,;+!15PTk`5P.*!;p-356;63*'3qQ$
F26/3qQ$,!,3-pQ#Z7;@$dC,18
>A(1POXVLK(IN(GU,(h#ULXGNI(#]GKHIb(.]I(0OSULM(/IGUN](!IQFTKQIi(1PGXLKH(/IGUN](%GNNIPQ`(+XIPLMGK(WTOPKGU(T^(0OSULM(/IGUN](%GPM](A88-`(9TU(5-`(&T,(C(
>C((0]\QLMLGKQ(^TP(*TMLGU(!IQFTKQLSLULN\,(h.]I(%IJLMGU(GKJ(0OSULM(/IGUN](3XFGMNQ(T^(4UTSGU(=GPXLKHi(]NNFbccaaa,FQP,TPHcGQQINQcFJ^QcHUTSGU_aGPXLKH_
^GMN_Q]IIN,FJ^
>>((#IKNIPQ(^TP('LQIGQI(#TKNPTU(GKJ(0PI[IKNLTK`("K[LPTKXIKNGU(/IGUN]`(=GNIP_(GKJ(1TTJ_STPKI('LQIGQIQ(]NNFbccaaa,MJM,HT[cMULXGNIM]GKHIcI^^IMNQc
aGNIPSTPKI,]NX
>Z(.POQN(^TP(+XIPLMGdQ(/IGUN](h/IGUN](0PTSUIXQ(/IGN(OFb(#ULXGNI(#]GKHI(GKJ(N]I(0OSULMdQ(/IGUN]i(A885(]NNFbcc]IGUN]\GXIPLMGKQ,TPHcPIFTPNQcIK[LPTK_
XIKNc
>D()KLNIJ(&GNLTKQ("K[LPTKXIKN(0PTHPGXXI,(h#ULXGNI(#]GKHI(*MLIKMI(#TXFIKJLOXi(A885(]NNFbccaaa,OKIF,TPHcFJ^cMM*MLIKMI#TXFIKJLOXA885c
MMY*MLIKMI#TXFIKJLOXA885Y^OUUYIK,FJ^
"%
57'2"!5"/2+53"3H,3-63*'31"6*"Q$$d">!@":3'+>3">+-3"'+>>+*C"L2353"5268/6*B"'+*16/6+*5"'!*"2!=3"
G(QIPLTOQ(LXFGMN(TK(N]I(FTFOUGNLTKQ(N]GN(JIFIKJ(TK(^PIQ]aGNIP(POKT^^(^TP(N]ILP(aGNIP(QOFFU\,((.]I(
aIQNIPK()KLNIJ(*NGNIQ(LK(FGPNLMOUGP(MTOUJ(^GMI(FIPFINOGUU\(QNPGLKIJ(aGNIP(QOFFULIQ(GKJ(]ILH]NIKIJ(
F6;1".-3"=7;*3-!:6;6/@"8-+>"13,;3/31"5*+F,!'E"!*1"13';6*6*B",-3'6,6/!/6+*C>@
M26;3"5+>3"-3B6+*5"!-3"3H,3-63*'6*B"6*'-3!531",-3'6,6/!/6+*0"+/23-"!-3!5"F6;;"533"!"13';6*3"6*"
GKKOGU(PGLK^GUU`(T^NIK(MTXSLKIJ(aLN](Q]TPN(FIPLTJQ(T^(JIUOHI(PGN]IP(N]GK(QNIGJ\(PGLK,('OPLKH(FIPLTJQ(
+8"1-+7B2/0"F!/3-"^7!;6/@":3'+>35"!"56B*6.'!*/"'+*'3-*"!5"F!/3-"57,,;635"13';6*30"5/!B*!*/"F!/3-5"
SIMTXI(SPIIJLKH(HPTOKJ(^TP(LKQIMNQ`(GKJ(MTKMIKNPGNLTKQ(T^(aGQNI(GKJ(FTUUONGKNQ(LKMPIGQI,>-(3K(
GJJLNLTK`(JPTOH]N(\IGPQ(XG\(UIGJ(NT(PIJOMIJ(LPPLHGNLTK(GUUTMGNLTKQ`(FTNIKNLGUU\(PIQOUNLKH(LK(UIQQ(UTMGU(
MPTF(G[GLUGSLULN\(TP(PIJOMIJ(KONPLNLTKGU([GUOI(T^(^TTJQ,
J;'&3,&A+&5:%"+%,+&0>,QP
+!5/!;",+,7;!/6+*5"!*1",3+,;3"F2+"-35613"6*"G++1,;!6*5"!-3">+5/"=7;*3-!:;3"/+",+/3*/6!;"
6*Z7-@"!*1"F!/3-D:+-*3"1653!53"8-+>"53!";3=3;"-6530"3!-;63-"5*+F">3;/"!*1"G!5263-"5/-3!>"
3=3*/50"+-"3H/-3>3"F3!/23-"3=3*/5C""4*16=617!;5"F6/2"'+>,-+>6531"6>>7*3"5@5/3>5"2!=3"!"26B23-"
PLQV(T^(MTKNPGMNLKH(G(aGNIP_STPKI(JLQIGQI,((+JJLNLTKGUU\`(M]LUJPIK(GPI(FGPNLMOUGPU\([OUKIPGSUI(NT(aGNIP_
STPKI(JLQIGQIQ(ULVI(PTNG[LPOQ(GQ(N]I\(JPLKV(XTPI(aGNIP(PIUGNL[I(NT(N]ILP(STJ\(XGQQ(N]GK(GJOUNQ(GKJ(
]G[I(UIQQ(JI[IUTFIJ(LXXOKI(Q\QNIXQ,>5(
#
-:%=":>*?&17=$'D%%,&A*8&)'77C*>+>%,&K':&1O+:%7%&J%"+;%:&1F%*+,&A*8&
1*,C:>*?&4"(%&A*8&.%"$+;D&J"+%:
H/-3>3"F3!/23-"3=3*/50"57'2"!5"23!=@"-!6*8!;;"!*1"G++16*B0"'!*"2!=3"53-6+75"6>,!'/5"+*"
JINIPLTPGNLKH(aGNIP`(aGQNIaGNIP`(GKJ(QNTPX(aGNIP(LK^PGQNPOMNOPI(Q\QNIXQ,(+JJLNLTKGUU\`(Q]L^NLKH(
,+,7;!/6+*"'3*/3-5"173"/+"';6>!/3"'2!*B3">!@",7/"*3F"5/-35535"+*"3H65/6*B"F!/3-"6*8-!5/-7'/7-3CZ8(
0OSULM(]IGUN](FPT^IQQLTKGUQ(MGK(IKMTOPGHI(UTMGU(HT[IPKXIKNQ(GKJ(ONLULNLIQ(NT(OFJGNI(GHLKH(
LK^PGQNPOMNOPI(GKJ(MTKQLJIP(MULXGNI(M]GKHI(JOPLKH(LK^PGQNPOMNOPI(FUGKKLKH(GKJ(JIQLHK(LK(TPJIP(NT(
G[TLJ(N]I(PLQVQ(T^(Q\QNIX(^GLUOPIQ(GKJ(QOSQIeOIKN(FOSULM(]IGUN](N]PIGNQ(^PTX(QIP[LMI(LKNIPPOFNLTKQ(
GKJ(QIaIP(SGMVOFQ,
"
!&?4.$/(&$TD#&-1+\4$2#+,."$(DD#)=4$."#$/(,,(M-)'$4.&+.#'-#4$/(&$1,-D+.#$1"+)'#$
;&#;+&#=)#44$/(&$Z((=-)'$+)=$=&(?'".$1()=-.-()4k
!" k3=3;+,"5'63*/6.'"!*1"/3'2*6'!;"B761!*'3"!*1"13'656+*"57,,+-/"/++;5"8+-"13=3;+,>3*/"
T^(IGPU\(aGPKLKH(Q\QNIXQ(GKJ(IXIPHIKM\(PIQFTKQI(FUGKQ`(LKMUOJLKH(GFFPTFPLGNI(LKJL[LJOGU(
SI]G[LTP, $!
!" 3XFUIXIKN(IGPU\(aGPKLKH(Q\QNIXQ(GKJ(PIQFTKQI(FUGKQ(LK(GKNLMLFGNLTK(T^(I[IKNQ,($!
!" #TKJOMN(IJOMGNLTK(GKJ(TONPIGM](TK(IXIPHIKM\(FPIFGPIJKIQQ, $!!
!" "KQOPI(N]GN(IXIPHIKM\(FPIFGPIJKIQQ(FUGKQ(LKMUOJI(XIJLMGU(QIP[LMIQ,(#
!" 4>,-+=3",-+B-!>5"/+">+*6/+-"/23"!6-0"F!/3-0"!*1"5+6;"8+-"2!K!-1+75"3H,+57-35C $‐$$$ !‐!!!
>@(1POXVLK(IN(GU,(h#ULXGNI(#]GKHIb(.]I(0OSULM(/IGUN](!IQFTKQIi(1PGXLKH(/IGUN](%GNNIPQ`(+XIPLMGK(WTOPKGU(T^(0OSULM(/IGUN](%GPM](n8-`(9TU(5-`(&T,(C(
>-((0]\QLMLGKQ(^TP(*TMLGU(!IQFTKQLSLULN\,(h.]I(%IJLMGU(GKJ(0OSULM(/IGUN](3XFGMNQ(T^(4UTSGU(=GPXLKHi(]NNFbccaaa,FQP,TPHcGQQINQcFJ^QcHUTSGU_aGPXLKH_
^GMN_Q]IIN,FJ^
>5((.1+/(A885
Z8((+XIPLMGK(=GNIP(=TPVQ(+QQTMLGNLTK(!IQIGPM](1TOKJGNLTK,(h#ULXGNI(#]GKHI(GKJ('PLKVLKH(=GNIPi('PLKVLKH(=GNIP(!IQIGPM]`(*FIMLGU(3QQOI`(9TU(7-`(
&T(A`(A88-(]NNFbccaaa,aGNIPPIQIGPM]^TOKJGNLTK,TPHcKIaQ+KJ"[IKNQcFPIQQ!TTXc'=![TU7-KTA,FJ^
"&
!" 4>,-+=3"57-=36;;!*'3",-+B-!>5"/+"'+;;3'/0"!*!;@K30"!*1"16553>6*!/3"1!/!"+*"/23"23!;/2"
'+*53^73*'35"+8"G++16*B"!*1"1-+7B2/5. $‐$$$ !‐!!!
!" %TKLNTP(GKJ(I[GUOGNI(N]I(I^^IMNL[IKIQQ(T^(Q\QNIXQ, $ $!!
!" 3XFPT[I(QOP[ILUUGKMI(GKJ(MTKNPTU(FPTHPGXQ(^TP(N]I(JINIMNLTK(T^(JLQIGQI(TONSPIGVQ $‐$$ !‐!!
!" 'I[IUTF(XIN]TJQ(NT(IKQOPI(aGNIPQ]IJ(FPTNIMNLTK(GKJ(QG^I(aGNIP(GKJ(^TTJ(]GKJULKH($‐$$$ !‐!!!
!" *FTKQTP(PIQIGPM](GKJ(JI[IUTFXIKN(TK(PGFLJ(JLGHKTQNLM(NTTUQ(^TP(^TTJ_(GKJ(aGNIP_STPKI(
FGN]THIKQ $‐$$ !‐!!
!" *FTKQTP(PIQIGPM](TK(NPIGNXIKN(TFNLTKQ($‐$$ !‐!!
!" 'I[IUTF(GKJ(JLQQIXLKGNI(LK^TPXGNLTK(TK(QLHKQ(GKJ(Q\XFNTXQ(T^(JLQIGQI(NT(HOLJI(LKJL[LJOGUQ(
TK(a]IK(NT(QIIV(NPIGNXIKN, $ !
$‐$$$$ 3KJLMGNIQ(IQNLXGNIJ(MTQN(^TP(LXFUIXIKNGNLTK
!‐!!!!3KJLMGNIQ(MGFGMLN\(fQNG^^(NLXIg(KIIJIJ(^TP(LXFUIXIKNGNLTK
#(2LXLNIJ(TP(KT(MTQN(TP(MGFGMLN\(KIMIQQGP\
/IGUN](JIFGPNXIKNQ(MGK(FPIFGPI(^TP(LKMPIGQIJ(
G++16*B"6*";+FD;@6*B"!*1"'+!5/!;"-3B6+*5"/2!/"!-3"
>+5/"575'3,/6:;3"/+"3H/-3>3"F3!/23-"3=3*/5";6E3"
]OPPLMGKIQ(GKJ(NPTFLMGU(QNTPXQ,(0PIFGPIJKIQQ(^TP(
aGNIP_PIUGNIJ(IXIPHIKMLIQ(LKMUOJIQ(JI[IUTFLKH(
I[GMOGNLTK(FUGKQ(GKJ(GOHXIKNLKH(MOPPIKN(aGNIP_
STPKI(JLQIGQI(XTKLNTPLKH,Z7("GPU\(aGPKLKH(
Q\QNIXQ(MGK(SI(QNPIKHN]IKIJ(S\(LKMUOJLKH([IMNTP_
STPKI`(aGNIP_STPKI(GKJ(MULXGNI(JGNG`(FTQQLSU\(
N]PTOH](FGPNKIPQ]LFQ(aLN](N]I(JIFGPNXIKNQ(T^(
IK[LPTKXIKNGU(eOGULN\(GKJ(aGNIP(PIQTOPMIQ,(.]I(
#IKNIPQ(^TP('LQIGQI(#TKNPTU(GKJ(0PI[IKNLTK(
PIMTXXIKJQ(N]GN(UTKH_NIPX(JLQIGQI(QOP[ILUUGKMI(
N]GN(LKMUOJIQ(aIGN]IP(GKJ(MULXGNI(JGNG(LQ(KIIJIJ(
NT(LJIKNL^\(]LQNTPLMGU(PIUGNLTKQ]LFQ(SINaIIK(QNTPXQ(
!*1"1653!53"+7/:-3!E5"6*"+-13-"/+",-+Z3'/"87/7-3"
LXFGMNQ(T^(MULXGNI(M]GKHI,ZA(3K(GPIGQ(QOQMIFNLSUI(NT(
QOM](I[IKNQ`(FGPNKIPQ]LFQ(Q]TOUJ(SI(^TPXIJ(fL^(KTN(
!;-3!1@"6*"3H65/3*'3("F6/2"3>3-B3*'@",-3,!-31*355"
GKJ(PIQFTKQI(QIP[LMIQ,(0UGKKLKH(^TP(GKJ(XGKGHLKH(
N]I(]IGUN](LXFGMNQ(T^(MULXGNI(M]GKHI(TK(aGNIP(
-35+7-'35"'!*":3*3./"8-+>"-3B6+*!;"1!/!"!*1"/23"
;+'!;"3H,3-/653"+8",7:;6'"23!;/2"+8.'6!;5"!*1"23!;/2"
MGPI(FPT[LJIPQ,ZC(
IDEAS IN ACTION
%>?( [CG>AIQDMI( )DCD?(
2?HCFDB?ID( MP( 6UT@AO(
2#+,."$%/31#$(/$_&-)IS
AIQ([CD?F(>CG(NMAI?E(D>?(
*,-D+.#$ b#+=F$ a+.#&$
$DA@ADA?G([MF]AIQ(5FMUH.(
%>AG(VMF]AIQ(QFMUH(AIO@UE?G(F?HF?G?IDCDAMI(
PFMB(MD>?F(HUT@AO(>?C@D>(E?HCFDB?IDGR(DFATC@(
CIE(HUT@AO(UDA@ADA?GR(GDCD?(VCD?F(CIE(G?VCQ?(
TMCFEGR(VCD?F(F?GMUFO?(TMCFEGR(!6+R(CIE(VCS
D?F(HFMD?ODAMI(?IJAFMIB?IDC@(MFQCIAWCDAMIG.(
%>?(QMC@(MP(D>AG(BU@DASG?ODMF(VMF]AIQ(QFMUH(
-4$ .($X;&#;+&#$ +$ &#;(&.$ 1().+-)-)'$ 3)=-)'4$
CIE(F?OMBB?IECDAMIG(MI(D>?(E?J?@MHB?ID(
MP(CI(?PP?ODAJ?(HFMQFCB(D>CD(VA@@(?ICT@?(VCS
D?F(CIE(VCGD?VCD?F(UDA@ADA?G(DM(E?J?@MH(CIE(
ABH@?B?ID(@MIQSFCIQ?(H@CIG(D>CD(COOMUID(PMF(
1,-D+.#$1"+)'#$-D;+1.4GY$5*baEan$K&(HS
?OD(,MCEBCH(99Y\Y=bL(,?HF?G?IDCDAMI(PFMB(
HUT@AO( >?C@D>(E?HCFDB?IDG(VA@@( ?IGUF?(D>CD(
,()'Q.#&D$;&#;+&#=)#44$=#1-4-()4$D+=#$AF$
D>?(VMF]AIQ(QFMUH(OMIGAE?F(ABHCODG(MI(D>?(
;?A,-1\4$"#+,."G
Z7(.POQN(^TP(+XIPLMGdQ(/IGUN](h/IGUN](0PTSUIXQ(/IGN(OFb(#ULXGNI(#]GKHI(GKJ(N]I(0OSULMdQ(/IGUN]i(A885(
ZA(#IKNIPQ(^TP('LQIGQI(#TKNPTU(GKJ(0PI[IKNLTK`("K[LPTKXIKNGU(/IGUN]`(=GNIP_(GKJ(1TTJ_STPKI('LQIGQIQ(]NNFbccaaa,MJM,HT[cMULXGNIM]GKHIcI^^IMNQc
aGNIPSTPKI,]NX
ZC(1POXVLK(IN(GU,(h#ULXGNI(#]GKHIb(.]I(0OSULM(/IGUN](!IQFTKQIi(1PGXLKH(/IGUN](%GNNIPQ`(+XIPLMGK(WTOPKGU(T^(0OSULM(/IGUN](%GPM](A88-`(9TU(5-`(&T,(C(
"'
014/90)14
#IKNIPQ(^TP('LQIGQI(#TKNPTU(GKJ(0PI[IKNLTK(_(/IGUN]\(=GNIP(
]NNFbccaaa,MJM,HT[c]IGUN]\aGNIPc
M+-;1"I3!;/2"A-B!*6K!/6+*"j"M!/3-0"9!*6/!/6+*"!*1"I@B63*3
]NNFbccaaa,a]T,LKNcaGNIPYQGKLNGNLTKY]IGUN]cIKc
%TKNIPI\(:G\(+eOGPLOX(_(*IG^TTJ(=GNM](0PTHPGX
2//,OPPFFFC>+*/3-3@:!@!^7!-67>C+-BP'-P'-p53!8++1F!/'2P1+F*;+!1C!5,H
K//2&
)
;6>!/3"'2!*B3"2!5"56B*6.'!*/"6>,;6'!/6+*5"8+-"8++1"53'7-6/@"!*1"27>!*"23!;/2O"26B23-"
/3>,3-!/7-35"!*1"3H/-3>3"F3!/23-"3=3*/5"*3B!/6=3;@"6>,!'/"/23"87*1!>3*/!;"
MTXFTKIKNQ(T^(^TTJ(FPTJOMNLTK(QOM](GQ(QTLU`(aGNIP(GKJ(SLTJL[IPQLN\,Z>(.]I()KLNIJ(*NGNIQ(
FPTJOMIQ(lA88(SLUULTK(LK(^TTJ(MTXXTJLNLIQ(GKKOGUU\`(]TaI[IP(PIULIQ(TK(GSTON(7Zq(fS\([TUOXIg(
TP(l@-(SLUULTK(LK(LXFTPNIJ(^TTJQ,ZZ(+HPLMOUNOPI(LQ(KTN(TKU\(G(QTOPMI(T^(HPIIK]TOQI(HGQ(IXLQQLTKQ(
&>!6*;@">3/2!*3"!*1"*6/-+75"+H613(0"-3,-353*/6*B"dCRq"+8"B-33*2+753"B!5"3>6556+*5"6*"/23"?90":7/"
LQ([OUKIPGSUI(NT(MULXGNI(M]GKHI(GQ(aIUU,ZD(*NIFQ(N]GN(N]I(FOSULM(]IGUN](QIMNTP(NGVIQ(NT(SOLUJ(G(^TTJ(
Q\QNIX(N]GN(LQ(PIQLQNGKN(NT(N]I(KIHGNL[I(G^^IMNQ(T^(MULXGNI(M]GKHI(LQ(GUQT(G(^TTJ(Q\QNIX(N]GN(MGK(]IUF(
UTaIP(LQQOIQ(T^(MTKMIPK(NT(FOSULM(]IGUN]b(PGNIQ(T^(]IGPN(JLQIGQI`(JLGSINIQ`(TSIQLN\`(GKJ(TONSPIGVQ(T^(
^TTJ_STPKI(LUUKIQQ,
.'G&J>$$&)$>7"+%&);"*?%&A((%6+&K''8&4D,+%7,P
26;3"!"F!->3-"';6>!/3"'!*":3":3*3.'6!;"/+"5+>3",;!*/50"3H/-3>3"F3!/23-"3=3*/5"!55+'6!/31"
aLN](MULXGNI(M]GKHI`(QOM](GQ(OKMTXXTKU\(]IG[\(PGLKQ(GKJ(FPTUTKHIJ(JPTOH]NQ`(]G[I(G(
*3B!/6=3"6>,!'/"+*"'-+,"B-+F/20"*7/-6/6+*!;"'+*/3*/"!*1"@63;15"&533".B7-3":3;+F(CZ@(
=
&I(D>?(GHFAIQ(MP(\==aR(G?J?F?(FCAIPC@@(OCUG?E(D>?(*AGGAGGAHHA(FAJ?F(DM(FAG?(CIE(
Z((=$."(?4+)=4$(/$+1$(/$1&(;,+)=<$-D;+1.-)'$."#$&#'-()\4$M"#+.<$1(&)$+)=$
4(FA#+)$1&(;4$+)=$1(4.-)'$/+&D#&4$oj$A-,,-()G/a(
2L[IQNTMV(FPTJOMNLTK(QLXOUNGKITOQU\(LQ(G^^IMNIJ(S\(MULXGNI(M]GKHI,(.]I(MTKQOXFNLTK(T^(GKLXGU(
FPTJOMNQ(FTQIQ(G(N]PIGN(NT(N]I(IK[LPTKXIKN(GQ(aIUU(GQ(]OXGK(]IGUN](GQ(UL[IQNTMV(FPTJOMNLTK(LQ(
!">!Z+-"5+7-'3"+8"B-33*2+753"B!5"3>6556+*5"!*1"'+*/-6:7/35"/+"23!-/"1653!53CZ5(*I[IPI(aIGN]IP(
I[IKNQ(GKJ(PLQLKH(NIXFIPGNOPIQ(GPI(ULVIU\(NT(MGOQI(G(JIMULKI(LK(UL[IQNTMV(FPTJOMNL[LN\,(/LH]IP(]IGN(
#V""`[A"T-+.;3"8+-"N;6>!/3"N2!*B30"]NNFbccaaa,^GT,TPHcJTMPIFc87AcL7CACIcL7CACI88,]NX
ZZ(()*'+("MTKTXLM(!IQIGPM](*IP[LMI,(A885,()*(1TTJ(3XFTPN(0GNNIPKQ(755-_A88@,(aaa,IPQ,OQJG,HT[
ZD(()*(4UTSGU(#]GKHI(!IQIGPM](0PTHPGX(f)*4#!0g(h4UTSGU(#]GKHI(3XFGMNQ(LK(N]I()KLNIJ(*NGNIQi(WOKI(A885(]NNFbccaaa,HUTSGUM]GKHI,HT[cFOSULMG_
/6+*5P-3,+-/5P5'63*/6.'D!55355>3*/5P75D6>,!'/5
#e"""`++1"!*1"[B-6'7;/7-!;"A-B!*6K!/6+*"+8"/23"?*6/31"W!/6+*5"&`[A("_[11-3556*B"';6>!/3"'2!*B3"!*1"8++1"53'7-6/@"/+B3/23-f"]NNFbccaaa,^GT,TPHc
KIaQcQNTP\cIKcLNIXcC@->8cLMTJIc
Z-(()*4#!0(A885
Z5(+KN]TK\(W(%M%LM]GIU(IN(GU,`(h1TTJ`(UL[IQNTMV(FPTJOMNLTK`(IKIPH\`(MULXGNI(M]GKHI`(GKJ(]IGUN]`i(.]I(2GKMIN(C@8`(KT,(5Z5>(f78`(A88@gb(7AZC_7ADC,
"(
FUGMIQ(QNPIQQ(TK(GKLXGUQ`(a]LM](
PIJOMIQ(JGLP\(FPTJOMNLTK(GKJ(QUTaQ(
HPTaN](GKJ(MTKMIFNLTK(PGNIQ,D8((
.]I(aGKLKH(eOGKNLN\(GKJ(eOGULN\(
T^(MPTF(GKJ(UL[IQNTMV(\LIUJQ(GQ(
aIUU(GQ(PLQLKH(^TTJ(FPLMIQ(MTOUJ(
N]PIGNIK(N]I(QNGSLULN\(T^(N]I(QOFFU\`(
G[GLUGSLULN\`(GMMIQQLSLULN\`(QG^IN\`(GKJ(
KONPLNLTK(T^(^TTJ,D7(3K(GJJLNLTK`(HL[IK(
N]I()KLNIJ(*NGNIQd(LKMPIGQLKH(NPIKJ(
6*"6>,+-/!/6+*"+8"8++10"3H/-3>3"
aIGN]IP(I[IKNQ(XG\(XGVI(MOPPIKN(
NPGKQFTPNGNLTK(Q\QNIXQ(^TP(^TTJ(
OKPIULGSUI,(
(<"4:+-B(L<M!N7(GHHO
J;"+&A:%&!;%&-'+%*+>"$&-C#$>6&.%"$+;&0>,Q,&K:'7&!;%,%&37="6+,P
;6>!/3"'2!*B3",+535"'2!;;3*B35"8+-"/23"38.'63*/",-+17'/6+*"+8"8++1"!*1"F!*6*B"'-+,"!*1"
;6=35/+'E"@63;15"'!*"6*G73*'3"!=!6;!:6;6/@0",-6'30"!*1"*7/-6/6+*C"[116/6+*!;"/2-3!/5"/+"8++1"
@63;15"!-3"/23"3>3-B3*'3"+8"F33150",35/50"!*1"1653!535"/2!/":3*3./"8-+>"26B23-"/3>,3-!/7-35"
+-"3H,3-63*'3"!"5268/"6*"165/-6:7/6+*",!//3-*5":!531"+*"';6>!/6'"'2!*B350"/275"2!->6*B"'-+,5"!*1"
UL[IQNTMV,(!IJOMIJ(JTXIQNLM(^TTJ(\LIUJQ(XG\(GUQT(
LKMPIGQI(^TTJ(LXFTPNGNLTK`(a]LM](MGK(LKNPTJOMI(
GJJLNLTKGU(JLQIGQIQ,DA(.]I(IXIPHIKMI(T^(KIa(JLQIGQI(
XG\(LKMPIGQI(OQI(T^(]IPSLMLJIQ(GKJ(FIQNLMLJIQ`(a]LM](
GPI(]GPX^OU(^TP(N]I(]IGUN](T^(^GPX(aTPVIPQ(GKJ(N]ILP(
^GXLULIQ`(N]I(IK[LPTKXIKN`(GKJ(^TTJ(QG^IN\`(GKJ(GUQT(
PGLQIQ(MTQNQ(^TP(^GPXIPQ,DC($PHGKLM(GHPLMOUNOPI`(TK(N]I(
+/23-"2!*10"!;;+F5"3'+5@5/3>5"/+":3//3-"!1Z75/"/+"
MULXGNI(M]GKHI`(GKJ(LQ(XTPI(PIQLQNGKN(NT(JLQIGQI(QNPGLKQ(
MTXFGPIJ(NT(HIKINLMGUU\(LJIKNLMGU(XTKTMOUNOPIQ,D>(
+JJLNLTKGUU\`(TPHGKLM(^GPXQ(N]GN(GPI(FGPN(T^(G(UTMGU(
^TTJ(Q\QNIX(aLUU(PIJOMI(MGPSTK(IXLQQLTKQ(^PTX(
NPGKQFTPNGNLTK`(GKJ(IKQOPI(GMMIQQ(NT(UTMGUU\(FPTJOMIJ(
8++1"F23*"/-!*5,+-/!/6+*"65"165-7,/31"17-6*B"3H/-3>3"
aIGN]IP(I[IKNQ,(
#
D8(()*4#!0(A885
R%""`[A"T-+.;3"8+-"N;6>!/3"N2!*B30"]NNFbccaaa,^GT,TPHcJTMPIFc87AcL7CACIcL7CACI88,]NX
DA(#ULXGNI(#]GKHI(*MLIKMI(0PTHPGX,(A88-,(+KGU\QIQ(T^(N]I(I^^IMNQ(T^(HUTSGU(M]GKHI(TK(]OXGK(]IGUN](GKJ(aIU^GPI(GKJ(]OXGK(Q\QNIXQ,(+(!IFTPN(S\(
N]I(),*,(#ULXGNI(#]GKHI(*MLIKMI(0PTHPGX(GKJ(N]I(*OSMTXXLNNII(TK(4UTSGU(#]GKHI(!IQIGPM],(j4GXSUI`(W,2,(fIJ,g`(E,2,("SL`(1,4,(*OQQXGK`(
.,W,(=LUSGKVQ`(f+ON]TPQgk,(),*,("K[LPTKXIKNGU(0PTNIMNLTK(+HIKM\`(=GQ]LKHNTK`('#`()*+,(
DC(()*4#!0(A885
D>((1+$(h$PHGKLM(+HPLMOUNOPI(GKJ(#ULXGNI(#]GKHIi(]NNFbccaaa,^GT,TPHc'$#!"0c88Zc;>7C@"c\>7C@I8AS,]NX
")
3K(A88-`(7>,Dq(T^()*(]TOQI]TUJQ(f>5,7(XLUULTK(FITFUI`(LKMUOJLKH(7D,@(M]LUJPIKg(aIPI(^TTJ(LKQIMOPI(
JOPLKH(N]I(\IGP`(N]I(]LH]IQN(PIMTPJIJ(PGNI(T^(^TTJ(LKQIMOPLN\(QLKMI(N]I(KGNLTKGU(^TTJ(QIMOPLN\(
57-=3@":3B!*C"_`++1"6*53'7-6/@f"65"13.*31":@"/23"?9k["!5O"_r2+7532+;15"/2!/"F3-3s"7*'3-/!6*"+8"
]G[LKH`(TP(OKGSUI(NT(GMeOLPI`(IKTOH](^TTJ(NT(XIIN(N]I(KIIJQ(T^(GUU(N]ILP(XIXSIPQ(SIMGOQI(N]I\(
2!1"6*578.'63*/">+*3@"+-"+/23-"-35+7-'35"8+-"8++1CfDZ(1ONOPI(^TTJ(QIMOPLN\(XG\(JIFIKJ(TK(N]I(
GHPLMOUNOPI(QIMNTPdQ(GSLULN\(NT(FPIFGPI(^TP(N]I(M]GUUIKHIQ(T^(MULXGNI(M]GKHI,(
>)$^88m<$."#$TD#&-1+)$L#=-1+,$T44(1-+.-()$5TLT6$;+44#=$+$4?4.+-)+A,#$/((=$;(,-1F$X-)$4?;;(&.$
(/$;&+1.-1#4$+)=$;(,-1-#4$M-."-)$"#+,."$1+&#$4F4.#D4$."+.$;&(D(.#$+)=$D(=#,$+$"#+,."F$+)=$
#1(,('-1+,,F$4?4.+-)+A,#$/((=$4F4.#DG$!"#$(,?.-()$+,4($1+,,4$()$."#$TLT$.($M(&I$M-."$"#+,."$
1+&#$+)=$;?A,-1$"#+,."$(&'+)-`+.-()4$.($#=?1+.#$."#$"#+,."$1+&#$1(DD?)-.F$+)=$."#$;?A,-1$
+A(?.$."#$-D;(&.+)1#$(/$"#+,."F$+)=$#1(,('-1+,,F$4?4.+-)+A,#$/((=$4F4.#D4$."+.$p;&(C-=#$/((=$
+)=$A#C#&+'#4$(/$)+.?&+,,F$"-'"$)?.&-.-()+,$N?+,-.F\GY9$!"#$;(,-1F$#)1(?&+'#4$."#$"#+,."$4#1.(&$.($
HFMBMD?(@MOC@(PMMEGR(>AQ>?F(IUDFADAMIC@(JC@U?(CIE(GUGDCAICT@?(PMME(MHDAMIG(AI(OCP?D?FACGR(GUHHMFD(
(/$/#=#&+,$;(,-1F$/(&$"#+,."-#&$+)=$#1(,('-1+,,F$4(?)=$/((=4<$+)=$#=?1+.-()+,$1+D;+-')4$/(&$
."#$;?A,-1G$!"#$(DD#)=+.-()4$AF$."#$TLT$+&#$-)$,-)#$M-."$."#$'(+,4$(/$+1"-#C-)'$"#+,."-#&$
HMHU@CDAMIGR(F?EUOAIQ(QF??I>MUG?(QCG(?BAGGAMIGR(CIE(TUA@EAIQ(OMBBUIADA?G(D>CD(CF?(BMF?(
F?GAGDCID(DM(D>?(ABHCODG(MP(O@ABCD?(O>CIQ?.
,-#$&.+#:-(C%&.(P"(,#:5A(GHHOA(Q5-:%+#'(3-9%+#$(Q11"+%#&%"'(7#11-1(N-1"$4&%"'(<4@@":&%';(<41&#%'#8$-(R""9(<61&-5A(.&&@BSS???A'".#:5A
":;S41T+#'#9#S'-?1T.+?.SGHHOSU4$S.+?.GHHOVHWVXWA@.@
A
J;'&3,&A+&5:%"+%,+&0>,QP
+7/20"6*8!*/50"/23"3;13-;@0"!*1"/23"6*.->31"!-3"/23">+5/"=7;*3-!:;3"/+"'+*/-!'/6*B"8++1D:+-*3"
LUUKIQQIQ(GQ(N]ILP(LXXOKI(Q\QNIXQ(GPI(ILN]IP(QNLUU(JI[IUTFLKH(TP(aIGVIKIJ,(.]I(]TXIUIQQ(GKJ(
UTa_LKMTXI(^GXLULIQ(XG\(GUQT(]G[I(UIQQ(M]TLMI(LK(N]I(N\FI(T^(^TTJ(N]I\(MTKQOXI`(TP(N]I\(XG\(UGMV(
GMMIQQ(NT(XTPI(KONPLNLTOQ(TP(UTMGUU\(HPTaK(^TTJQ,(0TFOUGNLTKQ(N]GN(PIU\(TK(LXFTPNIJ(^TTJQ`(QOM](GQ(
XLKTPLN\(FTFOUGNLTKQ(N]GN(^G[TP(^TTJQ(HPTaK(LK(TN]IP(FGPNQ(T^(N]I(MTOKNP\(TP(aTPUJ`(XG\(QII(N]ILP(
^TTJ(QOFFU\(LXFGMNIJ(S\(LKNIPPOFNLTKQ(NT(NPGKQFTPNGNLTK(Q\QNIXQ,
;
*NIFQ(NT(IJOMGNI(GKJ(FPIFGPI(IXFUT\IIQ(GKJ(N]I(FOSULM(TK(N]I(PLQVQ(NT(TOP(^TTJ(Q\QNIXQ
L23"<*=6-+*>3*/!;"T-+/3'/6+*"[B3*'@"&<T[("!8.->5"/2!/"/23"6>,!'/"+8"';6>!/3"'2!*B3"+*"
GHPLMOUNOPI(JIFIKJQ(TK(N]I(QIMNTPdQ(hGSLULN\(NT(GJGFN(N]PTOH](^ONOPI(M]GKHIQ(LK(NIM]KTUTH\`(M]GKHIQ(
LK(JIXGKJ(^TP(^TTJ`(GKJ(IK[LPTKXIKNGU(MTKJLNLTKQ`(QOM](GQ(aGNIP(G[GLUGSLULN\(GKJ(QTLU(eOGULN\,iDD(
T-3,!-6*B"8+-"/23"3883'/5"+8"';6>!/3"'2!*B3"+*"!B-6'7;/7-3"!;5+":3*3./5"27>!*"23!;/2C"[B-6'7;/7-!;"
,-3,!-31*355"5/-!/3B635"6*';713"5268/6*B"'-+,"53;3'/6+*"!*1"/6>6*B"/+";6>6/"3H,+57-3"/+"26B2"
/3>,3-!/7-35"!*1"36/23-"3H'3556=3"+-"6*578.'63*/"-!6*8!;;CD@"L23"`++1"!*1"[B-6'7;/7-!;"A-B!*6K!/6+*"
T^(N]I()KLNIJ(&GNLTKQ(f1+$g(GQQIPNQ(N]GN(GHPLMOUNOPGU(FPGMNLMIQ(N]GN(PIJOMI(IXLQQLTKQ(MGK(GUQT(
LXFPT[I(^TTJ(QIMOPLN\(S\(IKGSULKH(GHPLMOUNOPGU(Q\QNIXQ(NT(SI(XTPI(PIQLULIKN(NT(MULXGNI(LXFGMNQ,D-(
R#"?9k["<'+*+>6'"X353!-'2"93-=6'30"_`++1"93'7-6/@"6*"/23"?*6/31"9/!/35f"Q$$i"2//,OPPFFFC3-5C751!CB+=P:-63.*BP`++153'7-6/@P
DD(("K[LPTKXIKNGU(0PTNIMNLTK(+HIKM\(f"0+g(h+HPLMOUNOPI(GKJ(1TTJ(*OFFU\i(]NNFbccaaa,IFG,HT[cMULXGNIM]GKHIcI^^IMNQcGHPLMOUNOPI,]NXU
D@(()*4#!0(A885
D-((1+$(A885
#*
+(QOP[I\(T^($PIHTK(FOSULM(]IGUN](aTPVIPQ`(MTKJOMNIJ(S\(N]I(#ULXGNI(2IGJIPQ]LF(3KLNLGNL[I(GKJ(
/23"A-3B+*"N+!;6/6+*"+8"]+'!;"I3!;/2"A8.'6!;50"8+7*1"/2!/"dQq"+8"-35,+*13*/5"6*16'!/31"/236-"
]IGUN](JIFGPNXIKNQ(]G[I(QTXI(^TPX(T^(PIHOUGNTP\(PIQFTKQLSLULN\(T[IP(^TTJ(QG^IN\(GKJ(QIMOPLN\,(
/TaI[IP`(a]IK(GQVIJ(L^(N]ILP(]IGUN](JIFGPNXIKNQ(OQI(LK^TPXGNLTK(TK(M]GKHIQ(LK(MULXGNLM(FGNNIPKQ(
LK(FUGKKLKH(TP(LXFUIXIKNLKH(FPTHPGXXGNLM(GMNL[LNLIQ`(TKU\(7Aq(LKJLMGNIJ(N]GN(N]I\(aIPI(OQLKH(
LK^TPXGNLTK(PIUGNIJ(NT(^TTJ(QIMOPLN\,D5"["Q$$R"[55+'6!/6+*"+8"9/!/3"!*1"L3--6/+-6!;"I3!;/2"A8.'6!;5"
f+*./$g(QOP[I\(T^(QNGNI(IK[LPTKXIKNGU(]IGUN](JLPIMNTPQ(^TOKJ(N]GN(a]LUI(FPTHPGXQ(N]GN(LKMUOJIJ(
8++1",-+/3'/6+*"+8/3*"3H65/31"!/"/23"5/!/3";3=3;0";355"/2!*"2!;8"&!*1"6*">!*@"5/!/35";355"/2!*"%$q("+8"
MTOKN\(FOSULM(]IGUN](JIFGPNXIKNQ(]G[I(FPTHPGXQ(N]GN(LKMUOJI(^TTJ(FPTNIMNLTK,@8(
0PIFGPLKH(^TTJ(Q\QNIXQ(^TP(N]I(ULVIU\(LXFGMNQ(T^(MULXGNI(M]GKHI(MGK(MTKQIP[I(SLTJL[IPQLN\(GKJ(
KGNOPGU(PIQTOPMIQ`(FPTNIMN(^TTJ(\LIUJQ`(GKJ(LKMPIGQI(^TTJ(QIMOPLN\(GKJ(QG^IN\,(0PIFGPLKH(^TP(N]I(
LXFGMNQ(T^(MULXGNI(M]GKHI(MGK(LKMUOJI(QOFFTPNLKH(UTMGU`(PIQLULIKN(^TTJ(Q\QNIXQ(N]GN(FPT[LJI(]IGUN]\(
GKJ(G^^TPJGSUI(TPHGKLM(^TTJQ(NT(TOP(MTXXOKLNLIQ,(+(^TTJ(Q\QNIX(N]GN(LQ(PIQLQNGKN(NT(N]I(KIHGNL[I(
G^^IMNQ(T^(MULXGNI(M]GKHI(LQ(GUQT(G(^TTJ(Q\QNIX(N]GN(MGK(]IUF(UTaIP(PGNIQ(T^(]IGPN(JLQIGQI`(JLGSINIQ`(
TSIQLN\`(GKJ(TONSPIGVQ(T^(^TTJ_STPKI(LUUKIQQb(GUU(T^(a]LM](N]I(FOSULM(]IGUN](QIMNTP(LQ(aTPVLKH(NT(
'+>:!/"F6/26*"/236-"'+>>7*6/635C"[",7:;6'"23!;/2"317'!/6+*"'!>,!6B*0"26B2;6B2/6*B"/23":3*3./5"+8"
IGNLKH(PLH]N`(MGK(GUQT(LUUOQNPGNI(N]I(MTKKIMNLTKQ(SINaIIK(MULXGNI(M]GKHI`(GHPLMOUNOPI`(GKJ(G(]IGUN]\(
JLIN,@7(&E?CG(AIO@UE?X
!"T-+=613",!>,2;3/5"+*"2+F"/+",-3=3*/"!*1"-3'+B*6K3"8++1D:+-*3"6;;*355C"$!
!""KMTOPGHI(QOFFTPN(^TP(SOLUJLKH(G(UTMGU(^TTJ(IMTKTX\(NT(LKMPIGQI(^TTJ(G[GLUGSLULN\(a]IK(
NPGKQFTPNGNLTK(LQ(JLQPOFNIJ(TP(^TTJ_STPKI(LUUKIQQ(LQ(JINIMNIJ(LK(LXFTPNIJ(^TTJQ, #
!"<*'+7-!B3"3>,;+@335"!*1"/23",7:;6'"/+"5/!-/"/236-"+F*"=3B3/!:;3"B!-13*5"+-"Z+6*"!"
MTXXOKLN\(HGPJIK, !
!"=TPV(aLN](QTMLGU(QIP[LMIQ`(M]OPM]IQ(GKJ(^TTJ(SGKVQ(NT(IKQOPI(^TTJ(SGKVQ(GPI(QNTMVIJ(LK(
'!53"+8"3H/-3>3"3=3*/50"F26'2"'+7;1"!883'/"'-+,"@63;1"!*1"/-!*5,+-/!/6+*"+8"8++1C"!‐!!
!"M+-E"F6/2"?*6=3-56/@"<H/3*56+*",-+B-!>5"+-"!B-6'7;/7-!;"53-=6'35"/+"3*'+7-!B3"8!->3-5"/+"
FUGKN(MPTFQ(N]GN(GPI(XTPI(NTUIPGSUI(NT(N]I(LXFGMNQ(T^(MULXGNI(M]GKHI, !‐!!
!"=TPV(aLN](MTXXOKLN\(HGPJIKQ(NT(JI[IUTF(FUTNQ(JIJLMGNIJ(NT(MOUNOPGUU\(LXFTPNGKN(MPTFQ,(
!‐!!
!"M+-E"F6/2",!-/*3-5"/+"3*'+7-!B3"-35/!7-!*/5"!*1"8++1"57,,;63-5"/+"57,,+-/"3H,!*56+*"+8"
N]I(UTMGU(^TTJ(IMTKTX\,(!‐!!
$‐$$$$ 3KJLMGNIQ(IQNLXGNIJ(MTQN(^TP(LXFUIXIKNGNLTK
!‐!!!!3KJLMGNIQ(MGFGMLN\(fQNG^^(NLXIg(KIIJIJ(^TP(LXFUIXIKNGNLTK
#(2LXLNIJ(TP(KT(MTQN(TP(MGFGMLN\(KIMIQQGP\
Ri""4*5/6/7/3"8+-"!"975/!6*!:;3"<*=6-+*>3*/0"N;6>!/3"]3!13-526,"4*6/6!/6=3"!*1"N+!;6/6+*"+8"]+'!;"I3!;/2"A8.'6!;5C"_N;6>!/3"N2!*B3"I3!;/2"T-3,!-31_
KIQQ(LK($PIHTKi(+FPLU(A885
@8((3%':
@7(0OSULM(/IGUN](2Ga(GKJ(0TULM\`(h+K(+MNLTK(0UGK(^TP(0OSULM(/IGUN]b(3KLNLGU(!IMTXXIKJGNLTKQ(^TP(3K[TU[LKH(0OSULM(/IGUN](LK(#ULXGNI(#]GKHI(0TULM\i(
Q$$i"2//,OPPFFFC,2;,*3/C+-BP56/35P,2;,*3/C+-BP.;35PN;6>!/3N2!*B3X3,+-/pF3:p$i$)%dp$C,18
#!
A30&L9AM3!N
)
ULXGNI(M]GKHI(LQ(G(VI\(JINIPXLKGKN(T^(GLP(eOGULN\(GKJ(aLUU(ULVIU\(LKMPIGQI(N]I(FPI[GUIKMI(
T^(PIQFLPGNTP\(GKJ(MGPJLT[GQMOUGP(JLQIGQI(LK(N]I()KLNIJ(*NGNIQ(GKJ(GPTOKJ(N]I(aTPUJ,(
3K('IMIXSIP(T^(A885`(N]I(),*,("K[LPTKXIKNGU(0PTNIMNLTK(+HIKM\(f"0+g(XGJI(G(FOSULM(
JIMUGPGNLTK(N]GN(HPIIK]TOQI(HGQIQ(FTQI(G(N]PIGN(NT(FOSULM(]IGUN],@A(+JJLNLTKGUU\`(N]I(MULXGNLM(Q]L^NQ(
N]GN(PIQOUN(^PTX(^TQQLU(^OIU(MTXSOQNLTK(aIGVIK(N]I(KGNOPGU(Q\QNIXQ(N]GN(PIJOMI(GLP(FTUUONLTK,@C(
L23-38+-30"-317'6*B"'!-:+*"3>6556+*5"'!*"2!=3"6>>316!/3"23!;/2":3*3./5":@"13'-3!56*B",!-/6'7;!/3"
>!//3-"!*1"B-+7*1D;3=3;"+K+*3"!*1"57:53^73*/;@",-3=3*/6*B"!6-",+;;7/6+*D-3;!/31">+-:616/@"&3CBC"
GQN]XG(GKJ(M]PTKLM(SPTKM]LNLQg(GKJ(XTPNGULN\,@>(
.'G&J>$$&)$>7"+%&);"*?%&A((%6+&A>:&LC"$>+DP
6-",+;;7/!*/50"57'2"!5",!-/6'7;!/3">!//3-"!*1"57;87-"16+H6130"!-3":@,-+17'/5"+8"8+556;"873;"
MTXSOQNLTK(GKJ(GPI(]GPX^OU(NT(]OXGK(]IGUN],(=]LUI(NGVLKH(LXXIJLGNI(QNIFQ(NT(PIJOMI(
IXLQQLTKQ(LQ(IQQIKNLGU(NT(
FPTNIMNLKH(]OXGK(]IGUN]`(G(
PIJOMNLTK(LK(GLP(eOGULN\(LQ(QNLUU(
ULVIU\(aLN](MULXGNI(M]GKHI`(
GQ(N]IQI(FTUUONGKNQ(XG\(
LKMPIGQI(LK(MTKMIKNPGNLTK(GKJ(
JLQFIPQLTK(JOI(NT(MULXGNLM(
Q]L^NQ(LK(NIXFIPGNOPI`(aLKJ`(GKJ(
FPIMLFLNGNLTK,@Z(.]IPI^TPI(LN(LQ(
LXFTPNGKN(N]GN(QNIFQ(GPI(NGVIK(
KTN(TKU\(NT(LXFPT[I(GLP(eOGULN\`(
SON(GUQT(NT(FPIFGPI(IXFUT\IIQ(
GKJ(MTXXOKLNLIQ(^TP(PIJOMIJ(GLP(
Y5%11%"'1(")(Q%:(7"$$4&#'&1(Q11"+%#&-9(?%&.(R"11%$(R4-$(!"5841&%"'
eOGULN\,
<"4:+-B(7<N(GHHG2(9#&#():"5(L<(Y7Q(
+
J;"+&A:%&!;%&-'+%*+>"$&-C#$>6&.%"$+;&0>,Q,&K:'7&A>:&-'$$C+>'*P
IMPIGQIJ(GLP(eOGULN\(MGK(PIQOUN(^PTX(N]I(^TUUTaLKHb(LKMPIGQIJ(MTKMIKNPGNLTKQ(T^(HPTOKJ_UI[IU(
+K+*3a"3>6556+*5"+8"*6/-+B3*"16+H6130"57;87-"16+H6130"!*1",!-/6'7;!/3">!//3-a"5>+E3"8-+>"
F6;1.-35a"!*1",+;;3*";3=3;5C
'
50/9<2RM1B1M&/Y/<1
*NGHKGKN(aIGN]IP(aLN](JIMPIGQIJ(GLP(XT[IXIKN(GKJ(FPIMLFLNGNLTK(MGK(GUUTa(GLP(FTUUONGKNQ(
NT(GMMOXOUGNI(GKJ(LKMPIGQI(QXTH(LK(OPSGK(GPIGQ,@D"U-+7*1D;3=3;"+K+*3"'+*'3*/-!/6+*"65"!"
'+>,+*3*/"+8"7-:!*"5>+B"/2!/"-357;/5"8-+>"!"-3!'/6+*":3/F33*"*6/-+B3*"16+H613"!*1"=+;!/6;3"
eQ"?9"<*=6-+*>3*/!;"T-+Z3'/6+*"[B3*'@"&<T[(0"N;6>!/3"N2!*B3"j"X3B7;!/+-@"4*6/6!/6=35"_<*1!*B3->3*/"!*1"N!753"+-"N+*/-6:7/3"`6*16*B5"8+-"U-33*_
]TOQI(4GQIQ(OKJIP(N]I(#UIGK(+LP(+MNi(]NNFbccaaa,IFG,HT[cMULXGNIM]GKHIcIKJGKHIPXIKN,]NXU
@C(0]\QLMLGKQ(^TP(*TMLGU(!IQFTKQLSLULN\(f0*!g,(A88A,('IHPIIQ(T^('GKHIPb(/IGUN]("^^IMNQ(T^(#ULXGNI(#]GKHI(GKJ("KIPH\(LK($PIHTK,(
2//,OPPFFFC,5-C+-BP56/3Pk+'93-=3-Pk3B-335k!*B3-A-B3+*C,18b1+'4ktVQVQ"
@>(1POXVLK(IN(GU,(h#ULXGNI(#]GKHIb(.]I(0OSULM(/IGUN](!IQFTKQIi(1PGXLKH(/IGUN](%GNNIPQ`(+XIPLMGK(WTOPKGU(T^(0OSULM(/IGUN](%GPM](A88-`(9TU(5-`(&T,(C(
@Z(0]\QLMLGKQ(^TP(*TMLGU(!IQFTKQLSLULN\(f0*!g,(A88A,('IHPIIQ(T^('GKHIPb(/IGUN]("^^IMNQ(T^(#ULXGNI(#]GKHI(GKJ("KIPH\(LK($PIHTK,(
2//,OPPFFFC,5-C+-BP56/3Pk+'93-=3-Pk3B-335k!*B3-A-B3+*C,18b1+'4ktVQVQ"
eR""L23"M+-;1"I3!;/2"A-B!*6K!/6+*C"N;6>!/3"!*1"I3!;/2C"2//,OPPFFFCF2+C6*/P>316!'3*/-3P8!'/5233/5P85QRRP3*P6*13HC2/>;"
#"
TPHGKLM(MTXFTOKJQ(f9$#Qg`(a]LM](GPI(IXLNNIJ(S\(MGPQ`(FTaIP(FUGKNQ(GKJ(^GMNTPLIQ,@@(.]I(
>+5/",-3=!;3*/"+7/1++-"!6-",+;;7/!*/"6*"/23"?*6/31"9/!/350"B-+7*1D;3=3;"+K+*3"65"26B235/"+*"
]TN(QOKK\(JG\Q`(a]LM](GPI(ULVIU\(NT(SI(XTPI(^PIeOIKN(JOI(NT(MULXGNI(M]GKHI,(*NOJLIQ(]G[I(
;6*E31"B-+7*1"+K+*3"/+"27*1-315"+8"13!/25",3-"@3!-"6*"/23"?*6/31"g6*B1+>0"F6/2"5/71635"6*"
/23"?9"!*1"+/23-"'+7*/-635"52+F6*B"56>6;!-"-357;/5C"U-+7*1"+K+*3"65"8+->31":@"-3!'/6+*5"
:3/F33*"+/23-"B!535"D"6*';716*B"B-33*2+753"B!535">3/2!*3"!*1"*6/-+B3*"+H6135"D"6*"/23"
,-353*'3"+8"57*;6B2/0"!*1";3!15"/+"3H!'3-:!/6+*"+8"-35,6-!/+-@"1653!535C"M26;3"16-3'/"3>6556+*5"
'!753"B-+7*1"+K+*30"6/"65"!;5+"F+-53*31":@"!"'2!*B6*B"';6>!/30"F6/2";3=3;5"3H,3'/31"/+"
LKMPIGQI(aLN](]LH]IP(NIXFIPGNOPIQ(GKJ(M]GKHIQ(LK(FPIMLFLNGNLTK(FGNNIPKQ,@-(4PTOKJ_UI[IU(
+K+*3"65"2!->87;"/+":-3!/23"!*1"'!*"'!753"'+7B26*B0"52+-/*355"+8":-3!/20"3@3"6--6/!/6+*0"
GKJ(MGK(LKMPIGQI(PLQV(T^(M]PTKLM(TSQNPOMNL[I(FOUXTKGP\(JLQIGQI`(GQN]XG`(GUUIPHLM(P]LKLNLQ`(GKJ(
FPIXGNOPI(XTPNGULN\,@5(
<3!0/51<&23/H321Z&49MK90&23/H321Z&A<2&-A0!3)9MA!1&IA!!10
W6/-+B3*"16+H613"!*1"57;87-"16+H613"!-3",-+17'31":@"/23"'+>:75/6+*"+8"8+556;"873;5"6*"
GONTXTSLUIQ(GKJ(LKJOQNPLGU(FPTMIQQIQ,(.THIN]IP`(N]I\(MTXSLKI(NT(^TPX(FGPNLMUIQ(N]GN(LPPLNGNI(
N]I(PIQFLPGNTP\(Q\QNIX`(GKJ(GPI(GUQT(N]I(XGLK(MTXFTKIKNQ(T^(GMLJ(PGLK,(.]LQ(FGPNLMOUGNI(
XGNNIP(fL,I,(hQTTNig(LQ(IXLNNIJ(LKNT(N]I(GNXTQF]IPI(S\(MGPQ`(NPOMVQ`(FTaIP(FUGKNQ(GKJ(LKJOQNP\,(
S-3!/26*B"/2353",!-/6';35"'!*"1!>!B3";7*B"/655730"3H!'3-:!/3"!5/2>!0"!*1";3!1"/+"-35,6-!/+-@"
LK^IMNLTKQ`(UOKH(MGKMIP`(MGPJLT[GQMOUGP(JLQIGQI`(GKJ(FPIXGNOPI(JIGN],-8"<H,+57-3"/+",!-/6'7;!/3"
XGNNIP(XG\(SIMTXI(XTPI(MTXXTK(GQ(G(PIQOUN(T^(MULXGNI(M]GKHI(GKJ(LKMPIGQI(GQN]XG(PLQVQ,-7(
[,,-+H6>!/3;@")V">6;;6+*"[>3-6'!*5"2!=3":33*"16!B*+531"F6/2"!5/2>!"&F26'2"65"/-6BB3-31"
:@"6*1++-"!6-"^7!;6/@"!5"F3;;"!5"+7/1++-"3H,+57-3(0"!*1"/2!/"*7>:3-"65"35/6>!/31"/+"B-+F"/+"
XTPI(N]GK(788(XLUULTK(S\(A8AZ,-A(
Note: awareness campaigns need to be appropriate for the community that you serve. The EPA has developed asthma awareness radio campaigns in a number of languages, including Navajo and Lakota. !!!"#$%$&%"'()*'%)$%+,-&*-%./#%)#0+'%-*
4I/[1&K0/I&J3M2K3014
M6/2"F!->6*B"/3>,3-!/7-35"!*1"6*'-3!531"1-+7B2/0"F6;1.-35"!-3"3H,3'/31"/+":3'+>3"
XTPI(^PIeOIKN(GKJ(QI[IPI(LK(XGK\(FGPNQ(T^($PIHTK(GKJ(GPTOKJ(N]I(MTOKNP\,(.]I(LKMPIGQIJ(
6*'613*'3"+8"F6;1.-35"65":+/2"!"-357;/"+80"!*1"'+*/-6:7/+-"/+0"';6>!/3"'2!*B3C"9>+E3"6*2!;!/6+*"
8-+>".-35"'!*"'!753"!'7/3"!*1"'2-+*6'"-35,6-!/+-@"!*1"'!-16+=!5'7;!-"1653!53C-C(=LKJQ(MGK(
'!--@"!6-",+;;7/!*/5"8-+>"F6;1.-35"+=3-";+*B"165/!*'35"!*1"'!*"3=3*"!883'/"6*16=617!;5"F2+"!-3"
^GP(^PTX(N]I(I[IKN,->"N+>>7*6/635"/2!/"!-3"*+/"6*"16-3'/"1!*B3-"+8"F6;1.-35">!@"5/6;;":3"!/"-65E"
T^(QXTVI(LK]GUGNLTK(JIFIKJLKH(OFTK(aLKJ(JLPIMNLTK,
@@((0]\QLMLGKQ(^TP(*TMLGU(!IQFTKQLSLULN\(f0*!g,(A88A,('IHPIIQ(T^('GKHIPb(/IGUN]("^^IMNQ(T^(#ULXGNI(#]GKHI(GKJ("KIPH\(LK($PIHTK,(
2//,OPPFFFC,5-C+-BP56/3Pk+'93-=3-Pk3B-335k!*B3-A-B3+*C,18b1+'4ktVQVQ"
ed"_U-+7*1";3=3;"+K+*3"/+"6*'-3!53Cf"A'/+:3-"Q$$dC"2//,OPPFFFC6*13,3*13*/C'+C7EP3*=6-+*>3*/P';6>!/3D'2!*B3PB-+7*1;3=3;D+K+*3D,+;;7/6+*D/+D
LKMPIGQI_5ZA-AC,]NXU(j+MMIQQIJ('IMIXSIP(A885k
ei""m3**@"U-68./250"J!;!"X!+0"`6+*!"[1523!1"!*1"[;;65+*"L2+-,3"L23"I3!;/2"T-!'/6/6+*3-\5"U7613"/+"N;6>!/3"N2!*B3O"k6!B*+565"!*1"N7-3"<!-/25'!*"
0OSULQ]LKH(*IFNIXSIP(A885
-8((0]\QLMLGKQ(^TP(*TMLGU(!IQFTKQLSLULN\(f0*!g,(A88A,('IHPIIQ(T^('GKHIPb(/IGUN]("^^IMNQ(T^(#ULXGNI(#]GKHI(GKJ("KIPH\(LK($PIHTK,(
2//,OPPFFFC,5-C+-BP56/3Pk+'93-=3-Pk3B-335k!*B3-A-B3+*C,18b1+'4ktVQVQ"
-7((WLX("^QNGN]LTO(WP(h*NOJ\(ULKVQ(GLUXIKNQ(NT(HUTSGU(MULXGNI(M]GKHIi(:UTTXSIPH(&IaQ(&T[(A885(]NNFbcQIGNNUINLXIQ,KaQTOPMI,MTXc]NXUcKGNLTK_
F+-;1PQ$%$)Q%)Qdp';6>!/31653!53Q%C2/>;b5@*16'!/6+*t-55
-A(+XIPLMGK(+MGJIX\(T^(+UUIPH\`(+QN]XG`(GKJ(3XXOKTUTH\(h+QN]XG(*NGNLQNLMQi(]NNFbccaaa,GGGGL,TPHcXIJLGcQNGNLQNLMQcGQN]XG_QNGNLQNLMQ,GQF(
-C(WLX("^QNGN]LTO(WP(h*NOJ\(ULKVQ(GLUXIKNQ(NT(HUTSGU(MULXGNI(M]GKHIi(:UTTXSIPH(&IaQ(&T[(A885(]NNFbccQIGNNUINLXIQ,KaQTOPMI,MTXc]NXUcKGNLTK_
F+-;1PQ$%$)Q%)Qdp';6>!/31653!53Q%C2/>;b5@*16'!/6+*t-55
dV""m3**@"U-68./250"J!;!"X!+0"`6+*!"[1523!1"!*1"[;;65+*"L2+-,3"L23"I3!;/2"T-!'/6/6+*3-\5"U7613"/+"N;6>!/3"N2!*B3O"k6!B*+565"!*1"N7-3"<!-/25'!*"
0OSULQ]LKH(*IFNIXSIP(A885
##
-/MM1<&M1B1M4
X656*B"/3>,3-!/7-350"'!-:+*"3>6556+*50"!*1"5268/5"6*",-3'6,6/!/6+*",!//3-*5"'!*"!;5+"6*G73*'3"
N]I(NLXLKH`($0(12'./+3456GKJ(JLQNPLSONLTK(T^(^OKHGU(QFTPIQ(GKJ(FTUUIK(FPTJOMLKH(FUGKNQ,-Z("GPULIP(
GKJ(UTKHIP(FTUUIK(QIGQTKQ(]G[I(LKMPIGQIJ(N]I(MTKMIKNPGNLTK(T^(QTXI(GIPTGUUIPHIKQ(GKJ(MTKNPLSONIJ(
NT(Q]L^NQ(LK(N]I(SOPJIK(T^(FTUUIK_LKJOMIJ(GUUIPHIKLM(JLQIGQIQ(ULVI(GUUIPHLM(GQN]XG(GKJ(GUUIPHLM(
P]LKLNLQ,((+UUIPHLM(P]LKLNLQ(LQ(G(MTXXTK(GUUIPHIKLM(JLQIGQI(N]GN(LQ(SIMTXLKH(XTPI(FPI[GUIKN(LK(N]I(
)KLNIJ(*NGNIQ,-D
J;'&3,&A+&5:%"+%,+&0>,QP
]LUJPIK(GPI(FGPNLMOUGPU\([OUKIPGSUI(NT(GLP(FTUUONLTK(GQ(N]ILP(UOKHQ(GPI(QNLUU(JI[IUTFLKH`(GKJ(N]I\(
GUQT(NIKJ(NT(FGPNLMLFGNI(LK(]LH]IP(UI[IUQ(T^(TONJTTP(GMNL[LN\(N]GK(GJOUNQ,(.]I(IUJIPU\`(FITFUI(
F6/2"'2-+*6'"23!-/"!*1";7*B"1653!530"!*1"/2+53"F2+"F+-E"+-"3H3-'653"+7/1++-5"!-3"!;5+"=7;*3-!:;3"
NT(N]I(]IGUN](PLQVQ(T^(GLP(FTUUONLTK,-@"N7--3*/"!5/2>!"57883-3-5"!-3"!;5+";6E3;@"/+"3H,3-63*'3">+-3"
3H/-3>3"+-"8-3^73*/"!//!'E50"!*1"!;;3-B@"57883-3-5">!@"3H,3-63*'3",-+;+*B31"+-">+-3"6*/3*53"
GUUIPH\(QIGQTKQ,
#
4+%=,&+'&=:%=":%&%7=$'D%%,&"*8&+;%&=C#$>6&'*&+;%&:>,Q,&+'&">:&\C"$>+D
265"53'/6+*"26B2;6B2/5"5/3,5"/2!/"23!;/2"+8.'6!;5"'!*"/!E3"/+">6*6>6K3"/23"-65E"+8"';6>!/3D'2!*B3"
LKJOMIJ(FOSULM(]IGUN](LXFGMNQ(GQQTMLGNIJ(aLN](FTTP(GLP(eOGULN\(GXTKH(IXFUT\IIQ(GKJ(N]I(FOSULM,(
.
$ONJTTP(GLP(eOGULN\(QNGKJGPJQ(GPI(FPLXGPLU\(QIN(GKJ(IK^TPMIJ(GN(N]I(^IJIPGU(GKJ(QNGNI(UI[IU`(]TaI[IP(
UTMGU(]IGUN](JIFGPNXIKNQ(MGK(GQQLQN(LK(N]I(LXFUIXIKNGNLTK(T^(GMNL[LNLIQ(N]GN(XIIN(GLP(eOGULN\(HTGUQ`(
QOM](GQ(FTUUONLTK(FPI[IKNLTK(GKJ(MTXXOKLN\(FUGKKLKH,(.]I(&GNLTKGU(+QQTMLGNLTK(T^(2TMGU(:TGPJQ(
T^(/IGUN](f&+2:$/g(QOHHIQNQ(N]GN(UTMGU(]IGUN](JIFGPNXIKNQ(GQQLQN(LK(N]I(LXFUIXIKNGNLTK(T^(QNGNI(
,;!*5"/+">33/"8313-!;"!6-"^7!;6/@"5/!*1!-15"/+"_,-+!'/6=3;@"613*/68@"!*1"!11-355"5,3'6.'"'+*'3-*5"
F6/26*"/236-"Z7-6516'/6+*50"6*';716*B"655735"/2!/"8!;;"+7/5613"+8"!*@"8+->!;"-3B7;!/+-@",-+B-!>5Cf--((
%GK\(FITFUI(GPI(GaGPI(T^(N]I(MTKKIMNLTK(SINaIIK(XTNTP([I]LMUIQ(GKJ(GLP(FTUUONLTK`(SON(N]I(
'+**3'/6+*5":3/F33*"G6,,6*B"!";6B2/"5F6/'2"!*1"3;3'/-6'",+F3-"B3*3-!/6+*"65";355"!,,!-3*/C"T7:;6'"
]IGUN](JIFGPNXIKNQ(MGK(LKMPIGQI(FOSULM(GaGPIKIQQ(T^(N]I(GJ[IPQI(I^^IMNQ(T^(MULXGNI(M]GKHI(TK(
PIQFLPGNTP\(]IGUN](S\(]LH]ULH]NLKH(N]I(MTKKIMNLTKQ(SINaIIK(^TQQLU(^OIU(MTXSOQNLTK(GKJ(GLP(eOGULN\,(
!"#$/(,,(M-)'$)(Q1(4.$+1.-()4$1+)$A#$(DD#)=#=$.($#D;,(F##4$+)=$1(DD?)-.F$D#DA#&4$.($
;&(.#1.$."#D4#,C#4$/&(D$"+`+&=(?4$+-&$N?+,-.Fk
!"#]IMV(JGLU\(GLP(eOGULN\(UI[IUQ(LK(\TOP(GPIG,(#
!"9/!@"6*5613"17-6*B"26B2"+K+*3"!*1",+;;3*"1!@5"+-"68"/23-3\5"!"F6;1.-3":7-*6*B"6*"@+7-"!-3!C #
!"48"@+7"B+"+7/56130"!=+61"5/-3*7+75"3H3-'653"+-"!'/6=6/@0"35,3'6!;;@"6*"26B2"/-!8.'"!-3!5"!*1"
6*"/23";!/3"!8/3-*++*5"!*1"3!-;@"3=3*6*B5"+*"26B2D+K+*3"1!@5C"48",+556:;30"3H3-'653"+*"!"
XGM]LKI(GN(]TXI(TP(GN(G(H\X,(#
-Z()KLNIJ(*NGNIQ("K[LPTKXIKNGU(0PTNIMNLTK(+HIKM\,(A88-,(+(!I[LIa(T^(N]I(3XFGMNQ(T^(#ULXGNI(9GPLGSLULN\(GKJ(#]GKHI(TK(+IPTGUUIPHIKQ(GKJ(.]ILP(+Q_
5+'6!/31"<883'/5C"U;+:!;"N2!*B3"X353!-'2"T-+B-!>C"W!/6+*!;"N3*/3-"8+-"<*=6-+*>3*/!;"[55355>3*/C"A8.'3"+8"X353!-'2"!*1"k3=3;+,>3*/"
dR"m3**@"U-68./250"J!;!"X!+0"`6+*!"[1523!1"!*1"[;;65+*"L2+-,3"L23"I3!;/2"T-!'/6/6+*3-\5"U7613"/+"N;6>!/3"N2!*B3O"k6!B*+565"!*1"N7-3"<!-/25'!*"
0OSULQ]LKH(*IFNIXSIP(A885
-@(*GXIN`(WTKGN]GK(%,(h+JGFNLKH(NT(#ULXGNI(#]GKHI(_(0OSULM(/IGUN]i(+JGFNGNLTK`(+K(3KLNLGNL[I(T^(N]I(#ULXGNI(0TULM\(0PTHPGX(GN(!IQTOPMIQ(^TP(N]I(
1ONOPI,(WOKI(A885(
--(.]I(&GNLTKGU(+QQTMLGNLTK(T^(2TMGU(:TGPJQ(T^(/IGUN](f&+2:$/g(h2TMGU(:TGPJ(T^(/IGUN]("K[LPTKXIKNGU(/IGUN](0PLXIPi(]NNFbccaaa,MJM,HT[cKMI]c
I]Qc&+2:$/c&+2:$/Y"/Y0PLXIP,]NX
#$
!"N+*5613-"F3!-6*B"!".*3"175/">!5E0"F26'2"'!*":3"8+7*1"!/"2+>3"6>,-+=3>3*/"5/+-35C #
!"EIIF(\TOP(aLKJTaQ(GKJ(JTTPQ(MUTQIJ, #
!"[=+61"-7**6*B"@+7-":!/2-++>"+-"E6/'23*"3H2!75/"8!*0"!5"/265"'6-'7;!/35",+;;7/31"!6-"6*/+"@+7-"
]TXI, #
!"k-6*E",;3*/@"+8"G7615"/+">+65/3*"/23"-35,6-!/+-@"/-!'/C #
!"k+"*+/"6B*+-3"-35,6-!/+-@"5@>,/+>50"!5"/23@"'+7;1"6*16'!/3"!"-3!'/6+*"/+"+K+*3"+-",!-/6';3"
FTUUONLTK. # 9LQLN(G(JTMNTP(L^(Q\XFNTXQ(GPI(FIPQLQNIKN,(-5
$‐$$$$ 3KJLMGNIQ(IQNLXGNIJ(MTQN(^TP(LXFUIXIKNGNLTK
!‐!!!!3KJLMGNIQ(MGFGMLN\(fQNG^^(NLXIg(KIIJIJ(^TP(LXFUIXIKNGNLTK
#(2LXLNIJ(TP(KT(MTQN(TP(MGFGMLN\(KIMIQQGP\
.]I(PIMTXXIKJGNLTKQ(GST[I(MGK(SI(LKMUOJIJ(LK(TONPIGM](XGNIPLGUQ(NT(IXFUT\IIQ(GKJ(N]I(
FOSULM(fI,H,(LKNIHPGNIJ(LKNT(GLP(eOGULN\(PIQTOPMI(FGHIQ(TKULKI(TP(UTMGU(GLP(eOGULN\(]IGUN](GJ[LQTPLIQg,(
k3,!-/>3*/5"'!*"13=3;+,"+*;6*30"Ll0"+-"-!16+"!;3-/5"/+"F!-*"/23",7:;6'"+8"2!K!-1+75"!6-"^7!;6/@"1!@5"
GKJ(N]I(FPTFIP(QNIFQ(N]I\(Q]TOUJ(NGVI(NT(FPTNIMN(N]IXQIU[IQ(GKJ(N]ILP(^GXLULIQ,('IFIKJLKH(TK(\TOP(
6*/3*131"6*=35/>3*/"6*"/265"/@,3"+8",-+Z3'/0"'+5/5"!*1"'!,!'6/@"*3315"'!*"-!*B3"8-+>">6*6>!;"/+"
]LH],
!"#$BKT\4$T-&$e?+,-.F$>)=#W$5VVV.CAFWMI?.QMJ6$(//#&4$=+-,F$+-&$N?+,-.F$&#;(&.4$+)=$
+44(1-+.#=$"#+,."$#//#1.4$()#$D+F$#W;#&-#)1#$M-."-)$+$/#M$"(?&4$(&$=+F4$+/.#&$
TF?CD>AIQ(HM@@UD?E(CAF.(!6+(OC@OU@CD?G(D>?(+d&(TCG?E(MI(QFMUIES@?J?@(MWMI?R(HCFDAOU@CD?(
BCDD?FR(OCFTMI(BMIMZAE?R(GU@PUF(EAMZAE?R(CIE(IADFMQ?I(EAMZAE?.(+(FCIQ?(MP(OM@MF?E(
`()#4$-)/(&D$."#$;?A,-1$(/$;(.#).-+,$"#+,."$"+`+&=4k$'&##)$`()#4$-)=-1+.#$4+.-4/+1.(&F$
+-&$N?+,-.F<$(&+)'#$`()#4$-)=-1+.#$+-&$-4$?)"#+,."F$/(&$4#)4-.-C#$'&(?;4$,-I#$1"-,=&#)$(&$
(,=#&$+=?,.4q$+)=$&#=$`()#4$-)=-1+.#$"+`+&=(?4$+-&$N?+,-.F$."+.$1(?,=$;(4#$"#+,."$."&#+.4$
DM(D>?(?IDAF?(HMHU@CDAMI.
014/90)14
.]I(&GNLTKGU(+UUIPH\(:OPIGO(FPT[LJIQ(G(XGF(T^(PIHLTKGU(FTUUIK(GKJ(XTUJ(UI[IUQ(
2//,OPPFFFC!!!!6C+-BP*!:P6*13HC'8>b,t,+;;3*
L23"<T[\5"[6-"u7!;6/@"4*13H"+883-5"1!6;@"!6-"^7!;6/@"-3,+-/5
FFFC!6-K+*3CB+=
&GNLTKGU(+QQTMLGNLTK(T^(2TMGU(:TGPJQ(T^(/IGUN](f&+2:$+/g("K[LPTKXIKNGU(/IGUN](0PLXIP
]NNFbccaaa,MJM,HT[cKMI]cI]Qc&+2:$/c&+2:$/Y"/Y0PLXIP,]NX
M+-;1"I3!;/2"A-B!*6K!/6+*"j"[6-"u7!;6/@"U7613;6*35
]NNFbccaaa,a]T,LKNcF]Ic]IGUN]YNTFLMQcTONJTTPGLPYGeHcIKc
-5((.]I(#UIGP(+LP(#GXFGLHK,(h/Ta(NT(0PTNIMN(\TOP(/IGUN],i(]NNFbccaaa,MUIGKGLPMGXFGLHK,TPHc
#%
I%*+"$&.%"$+;
I
!Z+-"F3!/23-"3=3*/5"57'2"!5"27--6'!*35"!*1"23!/"F!=35"!-3"+''7--6*B"F6/2"B-3!/3-"
LKNIKQLN\(GKJ(^PIeOIKM\`(QIP[LKH(GQ(MTKMPINI(PIXLKJIPQ(T^(N]I(aG\Q(LK(a]LM](MULXGNI(
M]GKHI(MGK(LXFGMN(TOP(JGLU\(UL[IQ,(.]IQI(JLPIMN`(F]\QLMGU(LXFGMNQ(T^(MULXGNI(M]GKHI(GUQT(
LKJOMI(XIKNGU(]IGUN](LQQOIQ`(GQ(G^^IMNIJ(MTXXOKLNLIQ(QNPOHHUI(aLN](N]I(IK[LPTKXIKNGU`(QTMLGU`(GKJ(
3'+*+>6'"165-7,/6+*5"!*1"6*/3--7,/6+*5"+8",5@'26!/-6'"'!-3"/2!/"-357;/"8-+>"3H/-3>3"F3!/23-"3=3*/5C"
J!Z+-"165!5/3-5"j"57'2"!5"I7--6'!*35"g!/-6*!"!*1"X6/!"!*1"/23"Q$$V"[56!*"L57*!>6"j"13>+*5/-!/3"
2+F"3H/-3>3"F3!/23-"3=3*/5"!883'/"/23">3*/!;"23!;/2"+8"!*"6>,!'/31"'+>>7*6/@C"N;6>!/3"'2!*B3"
LQ(GUQT(]G[LKH(XIKNGU(]IGUN](LXFGMNQ(TK(LKJL[LJOGUQ(a]T(GPI(KTN(JLPIMNU\(LK[TU[IJ(LK(JLQGQNIPQ`(a]T(
!-3"-3,+-/6*B"13,-3556+*0"3>+/6+*!;"165/-3550"!*1"!*H63/@"+=3-"/23"/2-3!/"+8"87/7-3"'!/!5/-+,26'"
LXFGMNQ,58
J;"+&A:%&!;%&-'+%*+>"$&-C#$>6&.%"$+;&0>,Q,&/(&)$>7"+%&);"*?%&/*&/C:&
I%*+"$&.%"$+;P
2+53"F2+"16-3'/;@"3H,3-63*'3"3H/-3>3"F3!/23-"3=3*/5"57'2"!5"27--6'!*350"/+-*!1+350"
23!/"F!=350"1-+7B2/50"!*1"G++15">!@"8!'3"5+>3"13B-33"+8"165,;!'3>3*/0";+550"2+756*B"!*1"
3>,;+@>3*/"6*5/!:6;6/@0",2@56'!;"6*Z7-@0"!*1P+-"B3*3-!;"165-7,/6+*"+8"1!6;@";683C"T-+H6>6/@"/+"!"165!5/3-"
2!5":33*"52+F*"/+",-+=+E3"52+-/D/3->",5@'26!/-6'"-3!'/6+*5"!/"56H"/6>35"/23"-!/3"+8"/23"B3*3-!;"
FTFOUGNLTK,57"k3,3*16*B"7,+*"/23"53=3-6/@0"17-!/6+*0"!*1"8-3^73*'@"+8"3H,+57-30"/23"-357;/!*/"
XIKNGU(]IGUN](LXFGMNQ(TK(G^^IMNIJ(MTXXOKLNLIQ(XG\(LKMUOJIb
.
!" 0TQNNPGOXGNLM(QNPIQQ(JLQTPJIP(f0.*'g
!" A/23-"5/-355D-3;!/31"165+-13-5"57'2"!5"B-6380"13,-3556+*0"!BB-3556+*0"!*H63/@0"!*1"1-7B"!*1"
GUMT]TU(GSOQI
!" !IJOMIJ(aTPVIP(FPTJOMNL[LN\
!" 3KMPIGQI(PGNIQ(T^(QOLMLJI(GKJ(GNNIXFNIJ(QOLMLJI
!" 3KMPIGQIJ(PLQV(T^(MPLXI`(JTXIQNLM([LTUIKMI(GKJ(M]LUJ(GSOQI
!" 4*'-3!531"-65E"8+-",3+,;3"F6/2",-33H65/6*B">3*/!;"23!;/2"'+*16/6+*5
!" ]+*BD/3->",5@'26!/-6'",-+:;3>5">!@"!;5+";3!1"/+"+-"3H!'3-:!/3",2@56'!;"!6;>3*/5
!" N;6>!/3"'2!*B3"13;756+*"&,5@'2+565"+-"!*H63/@"165+-13-5"8+'7531"+*"';6>!/3"'2!*B3"+-"
^ONOPI(GJJLNLTKGU(JLQGQNIPQg
&I(D>?(CPD?FBCD>(MP(4UFFAOCI?(eCDFAICR(FCD?G(MP(G?J?F?(B?IDC@(A@@I?GG(KE?HF?GGAMIR(
;(4.Q.&+?D+.-1$4.,$=-4(&=#&<$+)W-#.F$=-4(&=#&<$;+)-1$=-4(&=#&<$+)=$+$C+&-#.F$
MP(H>MTACGL(FMG?(PFMB(8.9f(DM(99.`f(CBMIQ(F?GAE?IDG(MP(CPP?OD?E(CF?CG.(,CD?G(
MP(BA@ESDMSBME?FCD?(B?IDC@(A@@I?GG(EMUT@?E(PFMB(b.;f(DM(9b.bf.b\(+PP?OD?E(
OMBBUIADA?G(C@GM(?Z>ATAD?E(>AQ>(FCD?G(MP(E?HF?GGAMIR(EMB?GDAO(JAM@?IO?R(CIE(
GUAOAE?(FCD?G(DFAH@?E.b`
58(]NNFbccaaa,MJM,HT[cMULXGNIM]GKHIcI^^IMNQcXIKNGU]IGUN],]NX
57(/GUU`(!LM]GPJ(#,=,(GKJ(!\GK(#,=,(/GUU,(h"QNGSULQ]LKH(2LGLQTK(:I^TPI('LQGQNIP(*NPLVIQ,i('LQGQNIP(0Q\M]LGNP\(/GKJSTTV,(+XIPLMGK(0Q\M]LGNPLM(+QQTMLG_
NLTK(#TXXLNNII(TK(0Q\M]LGNPLM('LXIKQLTKQ(T^('LQGQNIP,(A88>b(7A_75,
5A(+KN]IQ`("XLU\(h#ULXGNI(M]GKHI(NGVIQ(G(XIKNGU(NTUUi(.]I(:TQNTK(4UTSI`(1ISPOGP\(5`(A885(]NNFbccaaa,STQNTK,MTXcUL^IQN\UIcHPIIKcGPNLMUIQcA885c8Ac85c
MULXGNIYM]GKHIYNGVIQYGYXIKNGUYNTUUc,
i)""`-6/K30"m3556'!"U"3/"!;C"_I+,30"135,!6-"!*1"/-!*58+->!/6+*O"';6>!/3"'2!*B3"!*1"/23",-+>+/6+*"+8">3*/!;"23!;/2"!*1"F3;;:36*B0f"4*/3-*!/6+*!;"m+7-*!;"
T^(%IKNGU(/IGUN](*\QNIXQ`(*IFNIXSIP(A88-(2//,OPPFFFC6Z>25C'+>P'+*/3*/PQP%P%)a"2//,OPP*3F=+6'358+--353!-'2C:;+B5,+/C'+>PQ$$iP$#P';6>!/3D'2!*B3D
GKJ_]IGUN]_XIKNGU_]IGUN],]NXU
#&
W+/"!;;",5@'26!/-6'"-3!'/6+*5"!-3",!/2+;+B6'!;a"5+>3"!-3"/+":3"3H,3'/31"!5"!"*+->!;"!*1"/3>,+-!-@"
PIGMNLTK(NT(G(]LH]_QNPIQQ(QLNOGNLTK,(%TPI(QI[IPI(FQ\M]LGNPLM(Q\XFNTXQ(NIKJ(NT(XGKL^IQN(SINaIIK(D(
!*1"%Q">+*/25"8+;;+F6*B"!"165!5/3-"!8/3-"52+-/D/3->"-35,+*535"57'2"!5"52+'E0"!*H63/@0"!*1"6*5+>*6!"
PIMIJI,(3KJL[LJOGUQ(fFGPNLMOUGPU\(\TOKH(M]LUJPIKg(a]T(JT(KTN(PIMIL[I(IGPU\(FQ\M]LGNPLM(LKNIP[IKNLTKQ(
GPI(IQFIMLGUU\([OUKIPGSUI(NT(UTKH_NIPX(Q\XFNTXQ,(.]IQI(XIKNGU(]IGUN](LXFGMNQ(XG\(UGQN(^TP(
XTKN]Q(TP(I[IK(\IGPQ(GKJ(XG\(Q]L^N(TP(aTPQIK(GQ(N]I(UTKH_NIPX(LXFGMNQ(T^(N]I(I[IKN(TP(N]PIGN(
+8"!116/6+*!;"3=3*/5":3'+>3"';3!-C"`3!-"!*1"165/-355"8+;;+F6*B"3H/-3>3"F3!/23-"3=3*/5">!@"!;5+"
UIGJ(NT(G(QIKQI(T^(FTaIPUIQQKIQQ(N]GN(MGK(LK]LSLN(G^^IMNIJ(MTXXOKLNLIQ(^PTX(NGVLKH(GMNLTKQ(NTaGPJ(
PIMT[IP\,5>
J;'&3,&A+&5:%"+%,+&0>,QP
7;*3-!:6;6/@"/+"/23">3*/!;"23!;/2"6>,!'/5"+8"';6>!/3"'2!*B3"13,3*15"7,+*",-+H6>6/@"!*1"!:6;6/@"
NT(GJGFN(NT(G(JLQGQNIP`(QOM](GQ(]G[LKH(N]I(PIQTOPMIQ(NT(PIIQNGSULQ](QTMLGU(KINaTPVQ(^TUUTaLKH(
165,;!'3>3*/C"J!Z+-"F3!/23-"3=3*/5"2!=3":33*"52+F*"/+"165,-+,+-/6+*!/3;@"!883'/"/23"3;13-;@0"-7-!;0"
FTTP`(GKJ(MTXXOKLNLIQ(T^(MTUTP,(#TXXOKLNLIQ(aLN]TON(GMMIQQ(NT(QTMLGU(GKJ(IMTKTXLM(PIQTOPMIQ(
QOM](GQ(IXFUT\XIKN(TFFTPNOKLNLIQ`(IJOMGNLTK`(GKJ(]TOQLKH(XG\(GUQT(UGMV(N]I(VKTaUIJHI(GKJ(
PIQTOPMIQ(N]GN(aTOUJ(GUUTa(N]IX(NT(GJIeOGNIU\(PIQFTKJ(NT(G(JLQGQNIP,(3K(GJJLNLTK`(N]IQI([OUKIPGSUI(
FTFOUGNLTKQ(GPI(T^NIK(GUPIGJ\(OKJIP(IMTKTXLM(TP(TN]IP(QNPIQQ,(+Q(G(PIQOUN`(N]IQI(HPTOFQ`(GUTKH(aLN](
,3+,;3"F2+"57883-"8-+>",-3D3H65/6*B">3*/!;"23!;/2"'+*16/6+*50"!-3";6E3;@"/+":3">+-3"6>,!'/31":@"
,5@'2+;+B6'!;"5/-355"8+;;+F6*B"!*"3H/-3>3"F3!/23-"3=3*/"+-"+/23-"';6>!/3"'2!*B3D-3;!/31"165!5/3-C"
$N]IP([OUKIPGSUI(HPTOFQ(LKMUOJI(QLKHUI(FGPIKNQ`(M]LUJPIK(SINaIIK(N]I(GHIQ(T^(-(GKJ(7Z`(SIPIG[IJ(
!*1"6*Z7-31"6*16=617!;50"!*1"-35'73"F+-E3-55Z,
9
4+%=,&!'&-:%=":%&!;%&-C#$>6&/*&!;%&0>,Q,&!'&I%*+"$&.%"$+;
6*6>6K3"165-7,/6+*":@",;!**6*B"!23!1"8+-"5/!8.*B0"/-!*5,+-/!/6+*"!*1"57,,;635"/+"E33,"@+7-"
GHIKM\(^OKMNLTKLKH(LK(MGQI(T^(G(JLQGQNIP,(*NIFQ(LKMUOJIb
%
!" 0PLTP(NT(G(JLQGQNIP`(IQNGSULQ](NPGMVLKH(GKJ(IGPU\(aGPKLKH(Q\QNIXQ(GKJ(FUGKQ(^TP(IKQOPLKH(N]GN(
GMMOPGNI(LK^TPXGNLTK(PIGM]IQ(N]I(XIJLG(GKJ(N]I(FOSULM(LK(G(aG\(N]GN(G[TLJQ(OKKIMIQQGP\(
FGKLM,(!‐!! $‐$$
!" <5/!:;652"-3;!/6+*526,5"F6/2"'+>>7*6/@"+-B!*6K!/6+*50"8!6/2D:!531"B-+7,50"!*1"23!;/2'!-3"!*1"
XIKNGU(]IGUN](JIFGPNXIKNQ(NT(^GMLULNGNI(JLQNPLSONLTK(T^(JLQGQNIP(FPIFGPIJKIQQ(ULNIPGNOPI(GKJ(
/-!6*6*BC"L2353"-3;!/6+*526,5"'!*"!;5+":3"!".-5/",+6*/"+8"'+*/!'/"6*/+"/23"'+>>7*6/@"6*"/23"
MGQI(T^(GK(IXIPHIKM\,(!‐!! $‐$$
!" 1TUUTaLKH(G(JLQGQNIP`(]IUF(GUUI[LGNI(QNPIQQ(LK(N]I(MTXXOKLN\(S\(IKQOPLKH(N]GN(GUU(SGQLM(KIIJQ(
!-3">3/"/2-+7B2"'+**3'/6+*5"F6/2"+/23-"+-B!*6K!/6+*5"!*1"!B3*'635"6*"/23"-3B6+*0"!*1"
IKQOPI(G(FUGK(LQ(IQNGSULQ]IJ(^TP(JTLKH(QT(FPLTP(NT(N]I(JLQGQNIPb(^TTJ`(aGNIP`(Q]IUNIP`(MUTN]LKH`(
QG^IN\,(!!
!" T-+=613",5@'26!/-6'"6*/3-=3*/6+*"8+-"5/-355"3H,3-63*'31":@"3>,;+@335"!*1"/23",7:;6'"
fIQFIMLGUU\(]LH](PLQV(HPTOFQg,(!!
!" X317'3"833;6*B"+8"23;,;355*355"8+;;+F6*B"!"165!5/3-":@",7//6*B",3+,;3"/+"F+-E"+*"5,3'6.'0"
QOFIP[LQIJ(NGQVQ,(!
!" [61"'+>>7*6/635"6*"/23"13=3;+,>3*/"+8"=6'/6>5\"8!>6;635\"+-B!*6K!/6+*5C5D(!!
5>((*aLX`(WGKIN(IN(GU,(A885,(0Q\M]TUTH\(GKJ(4UTSGU(#ULXGNI(#]GKHIb(+JJPIQQLKH(G(%OUNL_^GMINIJ(0]IKTXIKTK(GKJ(*IN(T^(#]GUUIKHIQ,(+(PIFTPN(T^(N]I(
.GQV(1TPMI(TK(N]I(3KNIP^GMI(:INaIIK(0Q\M]TUTH\(GKJ(4UTSGU(#ULXGNI(#]GKHI,(+XIPLMGK(0Q\M]TUTHLMGU(+QQTMLGNLTK,(
5Z((*aLX`(WGKIN(IN(GU,(A885,
5D((/GUU`(!LM]GPJ(#,=,(GKJ(!\GK(#,=,(/GUU`(A88>
#'
$‐$$$$ 3KJLMGNIQ(IQNLXGNIJ(MTQN(^TP(LXFUIXIKNGNLTK
!‐!!!!3KJLMGNIQ(MGFGMLN\(fQNG^^(NLXIg(KIIJIJ(^TP(LXFUIXIKNGNLTK
#(2LXLNIJ(TP(KT(MTQN(TP(MGFGMLN\(KIMIQQGP\
!IJOMLKH(N]I(XIKNGU(]IGUN](PLQVQ(T^(MULXGNI(M]GKHI_PIUGNIJ(JLQGQNIPQ(GXTKH(\TOP(IXFUT\IIQ
0PTXTNLKH(FQ\M]LGNPLM(]IGUN](GXTKH(FOSULM(]IGUN](IXFUT\IIQ(^TUUTaLKH(G(JLQGQNIP(aLUU(]IUF(VIIF(
IQQIKNLGU(QIP[LMIQ(G[GLUGSUI(N]PTOH]TON(GK(IXIPHIKM\,(6UT@AO(>?C@D>(CQ?IOA?G(OCI(?IOMUFCQ?(CIE(
/+1-,-.+.#$."#$/(,,(M-)'$1(;-)'$+)=$-,-#)1F$+1.-C-.-#4$+D()'$."#-&$#D;,(F##4k
IDEAS IN ACTION
:M@@MVAIQ(D>?(*AES
V?GD(:@MME(MP(9bb`R(
B?IDC@(>?C@D>(HFMS
P?GGAMIC@G( DFCAI?E(
AI( EAGCGD?F( F?S
GHMIG?( GCV( D>CD(
AIEAJAEUC@G( UIE?F(
GDF?GG( PFMB( D>?( ?J?ID( MPD?I( DUFI?E( DM(
1(DD?)-.F$,#+=#&4$,-I#$1,#&'F$D#DA#&4$
CIE( D?CO>?FGR( FCD>?F( D>CI( G??]AIQ( D>?(
DF?CDB?ID(MP(B?IDC@(>?C@D>(HFMP?GGAMIC@G.(
K&(H#1.$ *bB@!$ 5*(DD?)-.F$ b#4(?&1#4$
PMF(!EUOCDAMIR()UHHMFDR(CIE(%FCAIAIQL(VCG(
=#C#,(;#=$ .($ #N?-;$ 1(DD?)-.F$ ,#+=#&4$
M-."$."#$.((,4$.($;&(C-=#$4?;;,#D#).+&F$
?BMDAMIC@(GUHHMFD(CIE(OFAGAG(OMUIG?@AIQ(
4#&C-1#4$/(,,(M-)'$+$=-4+4.#&G$T==-.-()+,,F<$
D>?(+B?FAOCI(,?E(#FMGG(CIE(D>?(+B?FAS
1+)$K4F1"-+.&-1$T44(1-+.-()$#4.+A,-4"#=$+$
NMAID(EAGCGD?F(AID?FJ?IDAMI(H@CI(DM(PCOA@AS
DCD?( OMMH?FCDAJ?( F?@CDAMIG>AHG( T?DV??I(
B?IDC@(>?C@D>(EAGOAH@AI?G(EUFAIQ(EAGCGD?F(
?J?IDG.
P":&.2( !#:"$( <A( 3A=A2( Z".'( =A( C-#>-:2( 3A<ACA2( QA!A<ACA(
#'9([#::6(QA(,"';2(7.A=A2(DN"$-1(")(716+.%#&:%1&1("'(34$V
&%9%1+%@$%'#:6(3-'&#$(,-#$&.(=%1#1&-:(\-#512E(716+.%#&V
:%+( <-:>%+-12( Q5-:%+#'( 716+.%#&:%+(Q11"+%#&%"'( KGBKI]V
KIW(FGHHXJA
!"()MOAC@(I?DVMF]AIQX(4GN]IPLKHQ(aLN](^GXLU\`(^PLIKJQ(
GKJ(MTUUIGHOIQ(MGK(]IUF([LMNLXQ(^IIU(UIQQ(LQTUGNIJ, #
!"(4?C@AIQ(FADUC@GX(/IGULKH(PLNOGUQ(QOM](GQ(XIXTPLGU(
QIP[LMIQ(GKJ(QFLPLNOGU(HGN]IPLKHQ(MGK(]IUF(aLN](N]I(
XTOPKLKH(FPTMIQQ,(#
!"(,?OF?CDAMIX"k65/-!'/6*B"!*1"3*Z+@!:;3"GMNL[LNLIQ(QOM](
GQ(QFTPNQ`(GPN`(GKJ(TN]IP(]TSSLIQ(MGK(NGVI([LMNLXQd(XLKJQ(
T^^(N]ILP(NPTOSUIQ, #
!"(,?PFCBAIQ(EAGCGD?FX('LQGQNIPQ(MGK(SI([LIaIJ(^TP(N]I(
FTQLNL[I(LXFGMNQ(N]I\(MGK(SPLKH(GSTON`(QOM](GQ(FITFUI(
]IUFLKH(TKI(GKTN]IP(GKJ(G(QNPIKHN]IKIJ(QIKQI(T^(
MTXXOKLN\, #
!"(*,#+&$+)=$-=#).-3#=$.+4I4k$=]IK(PIGJ\`(FON(
IXFUT\IIQ(SGMV(NT(aTPV(NT(HL[I(N]IX(G(QIKQI(T^(
FOPFTQI(GKJ(G(JLQNPGMNLTK(^PTX(N]ILP(TaK(QNPIQQ,5@ #
#TXXOKLNLIQ`(IQFIMLGUU\(N]TQI(LK(JLQGQNIP_FPTKI(PIHLTKQ`(
'!*"!;5+":3*3./"8-+>",-3D3=3*/"6*/3-=3*/6+*5"/+"
IJOMGNI(LKJL[LJOGUQ(GSTON(MULXGNI(M]GKHI(GKJ(FPIFGPI(
LKJL[LJOGUQ(^TP(FTNIKNLGU(LXFGMNQ,(!IQLJIKNQ(T^(N]IQI(
!-3!5"+8/3*"8!'3"+*B+6*B"!*H63/@"!:+7/"87/7-3"3=3*/50"
,!-/6'7;!-;@"!5"27--6'!*3"+-".-3"53!5+*5"!,,-+!'2C5-(.]I(
#IKNIPQ(^TP('LQIGQI(#TKNPTU(GKJ(0PI[IKNLTK(FPTXTNIQ(
FOSULM(]IGUN](MTXXOKLMGNLTK(N]GN(hLKQFLPIQ(GMNLTK(PGN]IP(
N]GK(QNPIQQ(GKJ(JIQFGLP`i(LK(GK(I^^TPN(NT(GUUI[LGNI(MULXGNI(
M]GKHI(JLQNPIQQ,55
5@((.OMVIP`(0]ISI(GKJ(+KN]TK\(.,(&H,(h/IUFLKH(+JOUNQ(+^NIP('LQGQNIP(*NPLVIQ,i('LQGQNIP(0Q\M]LGNP\(/GKJSTTV,(+XIPLMGK(0Q\M]LGNPLM(+QQTMLGNLTK(#TX_
XLNNII(TK(0Q\M]LGNPLM('LXIKQLTKQ(T^('LQGQNIP,(A88>b(A8_A@,
id""`-6/K30"m3556'!"U"3/"!;C0"Q$$d
ii""N3*/3-5"8+-"k653!53"N+*/-+;"!*1"T-3=3*/6+*"&NkN(C"_N;6>!/3"N2!*B3"!*1"T7:;6'"I3!;/2a"I3!;/2"<883'/5O"J3*/!;"I3!;/2Cf"2//,OPPFFFC'1'CB+=P
MULXGNIM]GKHIcI^^IMNQcXIKNGU]IGUN],]NX
#(
IDEAS IN ACTION
>)$J-1.(&-+<$T?4.&+,-+<$_#+I-)$E)-C#&4-.F$&#,#+4#=$+$D+)?+,$X*(?).#&-)'$
_&(?'".Y$()$"(M$.($4?;;(&.$/+&D#&4$=?&-)'$;#&-(=4$(/$=&(?'".$+)=$
I##;$."#D$D#).+,,F$"#+,."FG$!"#$D+)?+,$-)1,?=#4$-)/(&D+.-()$4?1"$+4k$
)(.-1-)'$M"($-4$)(.$+..#)=-)'$1(DD?)-.F$#C#).4$+4$."#4#$+&#$(/.#)$."#$
H?MH@?( BMGD( AI( I??Eg( OF?CDAIQ( I?DVMF]G( JAC( ?BCA@( MF( D?@?H>MI?g( DAHG(
()$"(M$.($+;;,F$/(&$/?)=-)'$.($4?;;(&.$1(DD?)-.F$'&+).4q$+)=$4(D#$
@MV(OMGD(CODAJADA?G(DM(TFAIQ(H?MH@?(DMQ?D>?F.(1D>?F(?PPMFDG(AIO@UE?EX(D>?(
p_&(?'".$K(4.1+&=$K&(H#1.\$M"#&#$1"-,=&#)$+.$;&-D+&F$41"((,4$4#)=$;#&4()+,$D#44+'#4$.($
/+&D#&4$()$;(4.1+&=4q$L#).+,$2#+,."$d-&4.$T-=$1(?&4#4$/(&$1(DD?)-.F$D#DA#&4<$I-)=#&'+&S
.#)$.#+1"#&4<$4.(1I$+'#).4<$A+)I$4.+//$+)=$+)F()#$1(D-)'$-).($1().+1.$M-."$;#(;,#$M"($D+F$
T?(P??@AIQ(D>?(HF?GGUF?(MP(D>?(EFMUQ>Dg(D>?(:CFB5CD?(HFMN?OD(V>AO>(AIJM@J?G(C(HCFDI?FG>AH(
(/$;#(;,#$;&(C-=-)'$#D#&'#)1F$&#,-#/<$#D(.-()+,$4?;;(&.$+)=$4#&C-1#$-)/(&D+.-()$=-.,F$
."&(?'"$/+&D$C-4-.-)'q$+)=$."#$b#'-()+,$f(?."$]#.M(&I$M"($+&#$M(&I-)'$.($4?;;(&.$F(?)'$
;#(;,#$+.$&-4I$/(&$=&(?'".$."&(?'"$."#-&$0(1+,$0#+&)-)'$+)=$BD;,(FD#).$]#.M(&I4G
.&&@BSS???A9@+A>%+A;">A#4S9"5%'"SC-8TP"&-1S'-?5-9%#A'1)SOKK+8-#-W9)O^]H9+#GK]+_+HHXKG9G8S]WGG8#)OIH-K8XG-+#GKWG#GHH
W_O]H]`/@-'="+45-'&
014/90)14
#TFLKH(aLN](G(JLQGQNIP(TP(NPGOXGNLM(I[IKN(f#'#gb
3K^TPXGNLTK(LK("KHULQ]`(*FGKLQ](GKJ(9LINKGXIQI
]NNFbccaaa,SN,MJM,HT[cXIKNGU]IGUN]c
/IGUN]`(*G^IN\(GKJ(!IQLULIKMI(^TP('LQGQNIP(!IQFTKJIPQ(0GXF]UIN(f$*/+gb
aaa,TQ]G,HT[c*2.#cIXIPHIKM\FPIFGPIJKIQQc,,,cMJMYFGXF]UIN,FJ^(
=]IK('LQGQNIP(*NPLVIQb(%GKGHLKH(%INGU(/IGUN](LK(N]I(=TPVFUGMI(0GXF]UIN(f&GNLTKGU(0GPNKIPQ]LF(^TP(
=TPVFUGMI(%IKNGU(/IGUN]gb
aaa,aTPVFUGMIXIKNGU]IGUN],TPHcFJ^cJLQGQNIPSPTM]OPI,FJ^(
#GQI(QNOJLIQ(]LH]ULH]NLKH(LJIGQ(^PTX(9LMNTPLG`(+OQNPGULGdQ(h*NGNI(4T[IPKXIKNdQ(*OQNGLKLKH(MTXXOKLN\(
aIUUSILKH(LK(JPTOH]Ni(FPTHPGXb
aaa,]IGUN],[LM,HT[,GOcFMFQcJTaKUTGJQc,,,cT[IP[LIaYMGQIYQNOJLIQ,FJ^
#)
CONCLUSIONS
)/II9<3)A!3/<
)
TXXOKLMGNLTK(GSTON(MULXGNI(M]GKHI(NIKJQ(NT(^TMOQ(TK(GMNLTKQ(N]GN(LKJL[LJOGUQ(MGK(NGVI(
NT(PIJOMI(IXLQQLTKQ`(QOM](GQ(PIFUGMLKH(ULH]N(SOUSQ(GKJ(NOPKLKH(JTaK(N]I(N]IPXTQNGN,(=]LUI(
XLNLHGNLTK(GMNL[LNLIQ(GPI(IQQIKNLGU(^TP(ULXLNLKH(OKQG^I(UI[IUQ(T^(#$A(LK(N]I(GNXTQF]IPI`(
MULXGNLM(M]GKHIQ(GPI(GUPIGJ\(TMMOPPLKH(GKJ(aLUU(ULVIU\(MTKNLKOI(NT(KIHGNL[IU\(G^^IMN(]OXGK(]IGUN](
^TP(XGK\(JIMGJIQ(NT(MTXI,("XLQQLTKQ(XOQN(SI(PIJOMIJ(NT(QUTa(HUTSGU(aGPXLKH`(SON(FPIFGPLKH(
8+-"/23"3H,3'/31"6>,!'/5"65"!;5+"3553*/6!;C"T7:;6'"23!;/2";3!13-5"!-3"6*"!"7*6^73",+56/6+*"/+"6*8+->0"
IJOMGNI`(GKJ(IXFTaIP(N]I(FOSULM`(GQ(aIUU(GQ(NT(IUI[GNI(N]I(FPTXLKIKMI(T^(]IGUN](LQQOIQ(LK(MULXGNI(
FPIFGPIJKIQQ(FUGKKLKH,(=]IK(MTXXOKLMGNLKH(aLN](N]I(FOSULM`(MULIKNQ`(MTUUIGHOIQ`(GKJ(FTULM\XGVIPQ(
!:+7/"/23",+/3*/6!;"23!;/2"'+*53^73*'35"+8"';6>!/3"'2!*B30"6/"65"6>,+-/!*/"/+"3H,-355"2+F":+/2"
IXLQQLTKQ(PIJOMNLTKQ(GKJ(FPIFGPIJKIQQ(MGK(MPIGNI(]IGUN]\(MTXXOKLNLIQb
ST& !;%&-C#$>6T&.]I(FTNIKNLGU(]IGUN](LXFULMGNLTKQ(T^(MULXGNI(M]GKHI(GPI(QI[IPI(GKJ(MGK(UIG[I(
FITFUI(^IIULKH(]IUFUIQQ(TP(T[IPa]IUXIJ,(!GN]IP(N]GK(^TMOQLKH(TK(N]I(KIHGNL[I(LXFGMNQ(T^(
';6>!/3"'2!*B30"3>,2!56K3"/23":3*3./5"/2!/"F6;;"'+>3"8-+>"/2+7B2/87;",-3,!-31*355"388+-/5C"
N+*=3@"/2!/"F26;3"';6>!/3"'2!*B3"F6;;";6E3;@"2!=3"56B*6.'!*/"6>,!'/5"+*"*!/7-!;"5@5/3>5"!*1"
LK^PGQNPOMNOPI`(aI(MGK(GMN(KTa(GKJ(FPIFGPI(^TP(N]I(PIQOUNLKH(]IGUN](LXFULMGNLTKQ,
@+D;,#$,+)'?+'#k$>)$+==-.-()$.($=(-)'$#C#&F."-)'$M#$1+)$.($;&#C#).$."#$M(&4.$#//#1.4$
(/$',(A+,$M+&D-)'<$M#$D?4.$+,4($;&#;+&#$/(&$."#$#//#1.4$M#$+&#$+,&#+=F$#W;#&-#)1-)'G$
i?4.$,-I#$+$()4-A,#$"(D#(M)#&$M(?,=)\.$M+-.$/(&$+$&+-)4.(&D$.($3W$."#$"(,#$-)$."#$
&((/<$M#$1+)\.$M+-.$/(&$."#$M(&4.$#//#1.4$(/$1,-D+.#$1"+)'#$.($&#+1"$?4$A#/(&#$M#$.+I#$
CODAMI.9==
*NGNI(GKJ(UTMGU(]IGUN](JIFGPNXIKNQ(MGK(JI[IUTF(XIQQGHIQ(GKJ(FOSULM(IJOMGNLTK(MGXFGLHKQ(
/2!/"'+*=3@"/23"23!;/2"-65E5"+8"';6>!/3"'2!*B3"!*1":3*3./5"8-+>",-3,!-31*355C"T7:;6'"23!;/2"
UIGJIPQ(MGK(IKMTOPGHI(N]I(FOSULM(NT(HIN(LK[TU[IJ(LK(FPIFGPIJKIQQ(FUGKKLKH(I^^TPNQ(GKJ(QOFFTPN(
5/-+*B"';6>!/3",+;6'635C"[",7:;6'"23!;/2"';6>!/3",-3,!-31*355"!1=65+-@"'+7*'6;0"8+-"3H!>,;30"
'+7;1"8+'75"+*"';6>!/3"'2!*B3",-3,!-31*355"!*1"53-=3"!5"!";6!65+*"F6/2"*+*,-+./"*3/F+-E5"
!*1"'6/6K3*"B-+7,5"/+"52+F"2+F"/23"23!;/2"+8"'+>>7*6/635"'!*":3"6>,-+=31"/2-+7B2"';6>!/3"
FPIFGPIJKIQQ,(
WT& )$>%*+,T(=]IK(LKNIPGMNLKH(aLN](MULIKNQ(GKJ([LQLNTPQ`(FOSULM(]IGUN](FPGMNLNLTKIPQ(]G[I(N]I(
TFFTPNOKLN\(NT(Q]GPI(LK^TPXGNLTK(GSTON(N]I(]IGUN](LXFULMGNLTKQ(T^(MULXGNI(M]GKHI,(.]I(
^TUUTaLKH(PIQTOPMIQ(MGK(]IUF(\TO(NGUV(aLN](\TOP(MULIKNQ(GSTON(MULXGNI(M]GKHI(FPIFGPIJKIQQ(GKJ(
FPTNIMNLKH(TKIQ(]IGUN](LK(PIQFTKQI(NT(FTNIKNLGU(I[IKNQ(ULVI(]IGN(aG[IQb
o <*=6-+*>3*/!;"T-+/3'/6+*"[B3*'@\5"1!6;@"[6-"u7!;6/@"4*13H"-3,+-/5
FFFC!6-K+*3CB+=
%$$""N;6>!/3"N-+55-+!15O"["X353!-'2DS!531"`-!>6*B"U7613C"Q$$iC"2//,OPPFFFC/235+'6!;'!,6/!;,-+Z3'/C+-BPL23D9+'6!;DN!,6/!;DT-+Z3'/P,7:;6'!/6+*5
$*
o _[-3"n+7"X3!1@"8+-"!"I3!/"M!=3bf"X31"N-+55"B7613"/+"23!/"F!=3",-3,!-31*355
2//,OPPFFFC-31'-+55C+-BPFFFD.;35Pk+'7>3*/5P,18PT-3,!-31*355P[-3n+7X3!1@P
+PI;TO!IGJ\^TPG/IGNaG[I,FJ^
o *IG^TTJ(=GNM](HOLJI(NT(QG^I(GKJ(QOQNGLKGSUI(QIG^TTJ(M]TLMIQ
2//,OPPFFFC>+*/3-3@:!@!^7!-67>C+-BP'-P'-p53!8++1F!/'2P1+F*;+!1C!5,H
o 3K^TPXGNLTK(TK(MTFLKH(aLN](G(JLQGQNIP(TP(NPGOXGNLM(I[IKN(^PTX(N]I(#'#
]NNFbccaaa,SN,MJM,HT[cXIKNGU]IGUN]c
XT& )'$$%"?C%,T&=]IK(NGUVLKH(aLN](MTaTPVIPQ`(G(QOFIP[LQTP`(TP(QNG^^`(JIQMPLSI(]Ta(MULXGNI(
'2!*B3"65";6*E31"F6/2"3H65/6*B",7:;6'"23!;/2"'+*'3-*5";6E3"!6-"!*1"F!/3-"^7!;6/@C"?*13-5/!*16*B"
N]IQI(MTKKIMNLTKQ(aLUU(GUUTa(FOSULM(]IGUN](departments to be FPIFGPIJ(^TP(^ONOPI(I[IKNQ,(*LKMI(
MULXGNI(M]GKHI(T^NIK(QIIXQ(GSQNPGMN(GKJ(JLQNGKN`(LN(LQ(]IUF^OU(NT(MTKQLJIP(N]I(]IGUN](PLQVQ(N]GN(GPI(
5,3'6.'"/+"@+7-",!-/6'7;!-"-3B6+*"6*"+-13-"/+">!E3"/23"65573"-3;3=!*/"/+",3+,;3\5";6=35C"N+*5613-"
2+F"';6>!/3"'2!*B3"F6;;"!883'/"/23"23!;/2"+8"@+7-"'+>>7*6/@C"`+-"3H!>,;30"65"@+7-"!-3!"7-:!*"
GKJ(IQFIMLGUU\(FPTKI(NT(GLP(FTUUONLTK(TP(GPI(\TO(LK(G(MTGQNGU(NTaK(N]GN(LQ(MTKMIPKIJ(aLN](
,+/3*/6!;"G++16*B"+-"53!";3=3;"-653b"
0OSULM(]IGUN](FPT^IQQLTKGUQ(Q]TOUJ(SI([TMGU(QNGVI]TUJIPQ(LK(MULXGNI(M]GKHI(FPIFGPIJKIQQ(FTULM\(
13'656+*5C"L23"3H,3-/653"+8",7:;6'"23!;/2";3!13-5"'!*":3"!7B>3*/31"F6/2"';6>!/3D5,3'6.'"
NPGLKLKHQ(GKJ(HOLJGKMI,(.]I(.POQN(^TP(+XIPLMGdQ(/IGUN](QOHHIQNQ(N]I(^TUUTaLKH(QNPGNIH\(^TP(
JI[IUTFLKH(G(MULXGNI(M]GKHI(VKTaUIJHI(SGQI(GXTKH(FPGMNLNLTKIPQb(
X>)$(&=#&$.($#)"+)1#$I)(M,#='#$+A(?.$1,-D+.#$1"+)'#$+D()'$4.+.#$+)=$,(1+,$;?A,-1$
>?C@D>(VMF]?FGR(CQ?IOA?G(G>MU@E(OFMGGSDFCAI(D>?AF(VMF]PMFO?.(!HAE?BAM@MQAGDGR(V>M(
GH?OAC@AW?(AI(AIP?ODAMUG(EAG?CG?(GUFJ?A@@CIO?R(OCI(T?(DFCAI?E(DM(F?G?CFO>(>?CDSF?@CD?E(
D(&A-=-.F$+)=$D(&.+,-.FG$BD#&'#)1F$;&#;+&#=)#44$;,+))#&4<$M"($4;#1-+,-`#$-)$;+)=#D-1$
CIE(C@@S>CWCFEG(HF?HCF?EI?GGR(OCI(T?(?EUOCD?E(CTMUD(D>?(AIOF?CG?E(FAG](MP(?ZDF?B?(
V?CD>?F(?J?IDG(CG(C(F?GU@D(MP(O@ABCD?(O>CIQ?.(&I(CEEADAMI(DM(OFMGGSDFCAIAIQR(>?C@D>(CQ?IOA?G(
4"(?,=$#D;"+4-`#$A#4.$;&+1.-1#4$+)=$#=?1+.-()GY9=9
]T& -'$>6D7"Q%:,T&0OSULM(]IGUN](FPGMNLNLTKIPQ(]G[I(G(OKLeOI(TFFTPNOKLN\(NT(NGUV(NT(UTMGU(
JIMLQLTK(GKJ(FTULM\XGVIPQ(GSTON(N]I(KIIJ(^TP(FPTGMNL[I(MULXGNI(M]GKHI(]IGUN](FPIFGPIJKIQQ,(
:\(FPT[LJLKH(G(MPLNLMGU(]IGUN](FIPQFIMNL[I`(FOSULM(]IGUN](FPT^IQQLTKGUQ(MGK(MTXXOKLMGNI(N]I(
56B*6.'!*/"23!;/2"6>,!'/5"/2!/"!-3";6E3;@"/+"+''7-"52+7;1"!13^7!/3",-3,!-31*355">3!57-35"*+/"
SI(GJTFNIJ,(1TP(XGK\(FITFUI`(MULXGNI(M]GKHI(LQ(GK(GSQNPGMN(MTKMIFN(N]GN(LQ(KTN(MTKKIMNIJ(NT(
/236-"1!6;@";6=35C"4*'+-,+-!/6*B",7:;6'"23!;/2"+:Z3'/6=35"6*/+"';6>!/3"'2!*B3",;!**6*B",-+'35535"
aLUU(]LH]ULH]N(N]I(^GMN(N]GN(PLQLKH(NIXFIPGNOPIQ(JLPIMNU\(G^^IMN(FITFUI`(GQ(aIUU(GQ(GKLXGUQ,(1TP(
3H!>,;30"6*5/6/7/6*B",+;6'635"/2!/">!E3":6'@';3"'+>>7/6*B">+-3"!''3556:;3"!*1"'+*=3*63*/"F6;;"
]IUF(PIJOMI(MGPSTK(IXLQQLTKQ`(LXFPT[I(GLP(eOGULN\`(GKJ(JIMPIGQI(TSIQLN\(PGNIQ(S\(^GMLULNGNLKH(
787(.POQN(^TP(+XIPLMGdQ(/IGUN](h/IGUN](0PTSUIXQ(/IGN(OFb(#ULXGNI(#]GKHI(GKJ(N]I(0OSULMdQ(/IGUN]i(A885(]NNFbcc]IGUN]\GXIPLMGKQ,TPHcPIFTPNQcIK[L_
PTKXIKNc
$!
,2@56'!;"!'/6=6/@C"T7:;6'"23!;/2",-+83556+*!;5"'!*"317'!/3",+;6'@>!E3-5"6*"/23"23!;/2":3*3./5"/2!/"
aLUU(PIQOUN(^PTX(QTOKJ(MULXGNI(FPIFGPIJKIQQ(FUGKKLKH,(
0OSULM(]IGUN](JIFGPNXIKNQ(GKJ(GHIKMLIQ(Q]TOUJ(VIIF(LK(XLKJ(N]GN(MTXXOKLMGNLTK(NTTUQ(GKJ(GMNLTKQ(
NGLUTPIJ(NT(N]I(MTXXOKLN\`(GKJ(FTFOUGNLTK(N]I\(GPI(aTPVLKH(aLN]`(aLUU(]G[I(HPIGNIP(LXFGMN(^TP(
MTXXOKLN\(XIXSIPQ,((#MIGAE?F(D>?(PM@@MVAIQX
!" )QI([GPLIN\(T^(XIJLG(TONPIGM](QNPGNIHLIQ(N]GN(aTOUJ(SI(I^^IMNL[I(^TP(JL^^IPIKN(GHI(HPTOFQ((
fTK(FOSULM(PGJLT`(UTMGU(KIaQ`(FTFOUGP(PGJLT(QNGNLTKQ`(QTMLGU(XIJLG(QLNIQ`(INM,g
!" /G[I(SPTM]OPIQ(GKJ(XIJLG(TONPIGM](LK(XOUNLFUI(UGKHOGHIQ
!" 'TTP(NT(JTTP(TONPIGM](XG\(SI(XTPI(I^^IMNL[I(^TP(QTXI(MTXXOKLNLIQ
!" )QI(KTK_NPGJLNLTKGU(TONUINQ(^TP(IJOMGNLTK(GKJ(TONPIGM](f%IGUQ(TK(=]IIUQ`(;%#+Q`(UTMGU(
MIUISPLNLIQ`(QFTPNLKH(I[IKNQ`(INMg
T$4#&-#4$(/$1(DD?)-1+.-()4$.&+-)-)'4$+)=$.((,4$M-,,$+11(D;+)F$."-4$"+)=A((I$.($
>?@H(D>?(HUT@AO(>?C@D>(G?ODMF(E?J?@MH(B?GGCQ?G(CIE(GDFCD?QA?G(DM(PMGD?F(CVCF?I?GG(
(/$."#$"#+,."$A#)#3.4$/&(D$1,-D+.#$;&#;+&#=)#44G$!"#$.&+-)-)'4$+)=$+11(D;+)F-)'$
D+.#&-+,4$M-,,$+44-4.$;?A,-1$"#+,."$,#+=#&4$D(.-C+.#$1(,,#+'?#4<$;(,-1FD+I#&4<$+)=$
D>?(HUT@AO(DM(GUHHMFD(O@ABCD?(HF?HCF?EI?GG(?PPMFDG.
)/MMA^/0A!3/<
-
7:;6'"23!;/2"!B3*'635"!-3"!;-3!1@"'+;;!:+-!/6*B"F6/2"27B3"*3/F+-E"+8"+-B!*6K!/6+*5"
GKJ(GHIKMLIQ(LK(N]ILP(MTXXOKLNLIQ,(3K($PIHTK(GUTKI`(MTOKN\(FOSULM(]IGUN](JIFGPNXIKNQ(
F+-E"F6/2"!"16=3-53"!--!@"+8"B+=3-*>3*/0"*+*,-+./0"!*1"6*5/6/7/6+*!;"3*/6/635"6*';716*B"
'IFGPNXIKN(T^("K[LPTKXIKNGU(BOGULN\`("MTKTXLM(GKJ(#TXXOKLN\('I[IUTFXIKN`(=GNIPQ]IJ(
N+7*'6;50"<>3-B3*'@"J!*!B3>3*/0"?9"`+-35/"93-=6'30"?*6=3-56/@"<H/3*56+*"A8.'30"k3,!-/>3*/"+8"
"KIPH\`(/IGUN](#GPI(*\QNIXQ`("K[LPTKXIKNGU(0PTNIMNLTK(+HIKM\`('IFGPNXIKN(T^(+HPLMOUNOPI`(0OSULM(
M+-E50"9/!/3"k-6*E6*B"M!/3-0"M!/3-"X35+7-'350"923-688 \5"A8.'30"3/'C"L265"-!*B3"+8",!-/*3-526,5"
,-+=6135"3H/3*131"+,,+-/7*6/635"8+-":+/2"-317'6*B"2!->87;"'!-:+*"3>6556+*5"!*1",-3,!-6*B"8+-"/23"
6>,!'/5"+8"';6>!/3"'2!*B30"!;;+F6*B",7:;6'"23!;/2"13,!-/>3*/5"/+"/26*E"+7/5613"/23":+H"!*1"13=3;+,"
LKKT[GNL[I(QNPGNIHLIQ(^TP(LXFPT[LKH(N]I(]IGUN](T^(N]I(QNG^^(GKJ(MTXXOKLN\`(GQ(aIUU(GQ(FPIFGPLKH(^TP(
N]I(]IGUN](LXFGMNQ(T^(MULXGNI(M]GKHI,(
!"#$^88j$4?&C#F$(/$%&#'()$;?A,-1$"#+,."$=#;+&.D#).4$AF$."#$*0>$+)=$*02%$-=#).-3#=$."#$
)##=$/(&$;&#;+&#=)#44$#//(&.4$.($A#$1()=?1.#=$1(,,+A(&+.-C#,F$+1&(44$."#$1(?).F<$&#'-()<$
4.+.#<$+)=$A#.M##)$4#1.(&4G$K?A,-1$"#+,."$()=#).4$-=#).-3#=$."#$'&(?;4$-)$."#$1(DD?)-.F$
M-."$M"-1"$."#F$1(?,=$1(,,+A(&+.#$()$1,-D+.#$-44?#4<$-)1,?=-)'k$M+.#&4"#=$'&(?;4<$?)-C#&4-.-#4<$
1(?).F$(/31#4$(/$4?4.+-)+A-,-.F<$1,#+)$+-&$1(+,-.-()4<$"#+,."F$"(D#4$1(+,-.-()4<$_#;+&.D#).$(/$
B)C-&()D#).+,$e?+,-.F<$+)=$"(?4-)'$=#;+&.D#).4G$*&(44Q4#1.(&$1((;#&+.-()$1+)$"#,;$#)4?&#$
."+.$()#$4#1.(&\4$+1.-()4$=($)(.$?)-).#).-()+,,F$;&(=?1#$)#'+.-C#$+//#1.4$/(&$+)(."#&$4#1.(&$
5#G'G$-/$&#D(C-)'$+$D(4N?-.($A&##=-)'$'&(?)=$A+4#=$()$=-4#+4#$1()1#&)4<$(/31-+,4$4"(?,=$1()4?,.$
)+.?&+,$4F4.#D4$D+)+'#&4$.($#)4?&#$)($4;#1-#4$+&#$."&#+.#)#=6G$
$"
!A[3<5&A2BA<!A51&/K&1H34!3<5&014/90)14&
A<2&3<!150A!3<5&1KK/0!4&3<!/&1H34!3<5&4N4!1I4
J
]LUI(GJJLNLTKGU(^OKJLKH(GKJ(QNG^^(aLUU(FPT[LJI(QOFFTPN(^TP(NGVLKH(\TOP(MULXGNI(
,-3,!-31*355"6*6/6!/6=3"87-/23-0"13,!-/>3*/5"!*1"!B3*'635"52+7;1"5/!-/".-5/"F6/2"/236-"
3H65/6*B"-35+7-'35C"<=!;7!/3"@+7-"'7--3*/",;!**6*B",-+'355"!*1"!'/6=6/635O"M23-3"'!*"
,-3,!-31*355":3":76;/"6*b""M2!/"7,'+>6*B"-3,+-/5"+-"!F!-3*355":-+'27-35"F+7;1":3*3./"8-+>"/23"
!116/6+*"+8"!"53'/6+*"+*"';6>!/3",-3,!-31*355b
+^NIP(\TOd[I(XGJI(GQ(XGK\(M]GKHIQ(GQ(FTQQLSUI(aLN]LK(\TOP(MOPPIKN(TFIPGNLTKQ(GKJ(G[GLUGSUI(
PIQTOPMIQ`(GJJLNLTKGU(HPGKNQ(GKJ(FGPNKIPQ]LFQ(MGK(QOFFTPN(GMeOLQLNLTK(T^(GJJLNLTKGU(^OKJLKH`(PIQIGPM]`(
/++;5"!*1",-+Z3'/5C
+Q(JLQMOQQIJ(N]PTOH]TON(N]LQ(JTMOXIKN`(XGK\(]IGUN](JIFGPNXIKNQ(GKJ(GHIKMLIQ(GPI(QNPGLKIJ(^TP(
.*!*'6!;"!*1"27>!*"-35+7-'350"!*1"+8/3*"1+"*+/"2!=3"/23"!:6;6/@"/+"6*6/6!/3";!-B3D5'!;3"'2!*B3"
aLN]TON(QOFFTPN(TP(XGKJGNIQ(^PTX(JIMLQLTK_XGVIPQ,((2(M#C#&<$."#&#$+&#$D+)F$(;#&+.-()4$+)=$
1(DD?)-1+.-()$4.&+.#'-#4$."+.$F(?$D+F$A#$+A,#$.($1"+)'#$(&$+=+;.$-).#&)+,,F$5=#;#)=-)'$()$
F(?&$=#;+&.D#).r+'#)1-#4$;(,-1-#46$-)1,?=-)'k
!" X3=656*B"'+>>7*6/@"5,3'6.'":-+'27-35
!" *NPIKHN]IKLKH(UTMGU(FGPNKIPQ]LFQ
!" 'I[IUTFLKH(LKNIPKGU(NPGLKLKHQ`(GaGPIKIQQ(SOLUJLKH(XIM]GKLQXQ(^TP(QNG^^
!" #TKJOMNLKH(FPIULXLKGP\(GQQIQQXIKNQ(T^(FTFOUGNLTKQ(LK(\TOP(MTXXOKLN\(N]GN(GPI(XTQN(GN(
PLQV(NT(MULXGNI(PIUGNIJ(]IGUN](LXFGMNQ
!" 0PT[LJLKH(MULXGNI(GKJ(FPIFGPIJKIQQ(PIUGNIJ(LK^TPXGNLTK(TK(\TOP(aISQLNI
!" X317'6*B"6*1++-"!6-",+;;7/6+*"3H,+57-3":@"';+56*B"F6*1+F50"1++-50"-317'6*B"!'/6=6/635"
TONQLJI`(INM,
`+-"!'/6+*5"+-"5/-!/3B635"/2!/"-3^76-3"!,,-+=!;"+-"!7/2+-6K!/6+*"!/"/23"5/!/3";3=3;"+-"8-+>"
23!1^7!-/3-50"13,!-/>3*/5"'!*"1+'7>3*/"/23"F+-E"/23@"!-3"1+6*B"+*",-3,!-31*355a"13>+*5/-!/3"
/23"'2!*B35"/23@"!-3"5336*B"6*"/3->5"+8"!F!-3*3550"3*3-B@"5!=6*B50"6>,-+=31"23!;/20"3/'Ca"!*1"
FPIFGPI(PIMTXXIKJGNLTKQ(^TP(TFIPGNLTKQ(TP(FTULMLIQ(N]GN(Q]TOUJ(SI(MTKQLJIPIJ(^TP(GJTFNLTK(S\(
GUU(JIFGPNXIKNQ(TP(GHIKMLIQ(GMPTQQ(N]I(QNGNI,(*]GPI(N]IQI(aLN](TN]IP(JIFGPNXIKNQ(TP(GHIKMLIQ(
GKJ(JI[IUTF(G(QNPGNIH\(^TP(IKGMNLKH(HPIGNIP(M]GKHI(GN(N]I(]LH]IQN(UI[IU,(1TPXLKH(FGPNKIPQ]LFQ(aLN](
TN]IP(GHIKMLIQ(TP(JIFGPNXIKNQ(fI,H,('IFGPNXIKN(T^("K[LPTKXIKNGU(BOGULN\`(=GNIP(!IQTOPMIQ`(
'IFGPNXIKN(T^("KIPH\`(INMg(XG\(FPT[LJI(G(HPIGNIP([TLMI(^TP(IKMTOPGHLKH(FTULM\(GJTFNLTK(T^(MULXGNI(
FPIFGPIJKIQQ(GMPTQQ(JIFGPNXIKNQ(GKJ(GHIKMLIQ(GN(N]I(QNGNI(UI[IU,
$#
© Copyright 2026 Paperzz