Beruflich Dokumente
Kultur Dokumente
ERRNVPHGLFRVRUJ
reguntas claves
y
ejercicios
U. Ruth Charrondiere
Barbara Burlingame
Sally Berman
Ibrahim Elmadfa
E-ISBN 978-92-5-306917-0
© FAO 2011
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GTAN
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CD BNLONRHBHbM CD @KHLDMSNR TSHKHY@MCN KNR KHLHS@CNR C@SNR DWHRSDMSDR &M DK CDBDMHN CD RD
DRS@AKDBHDQNMHMRSHSTSNRCD@M\KHRHRCDKNR@KHLDMSNRDM._WHBN
$TA@
$NKNLAH@XL\RS@QCDDK1DQd
BNMK@
@XTC@ CD K@ 'TMC@BHbM 3NBJDEDKKDQ
K@ 'TMC@BHbM ,DKKNFF X K@ "FDMBH@ CD KNR &RS@CNR 6MHCNR O@Q@ DK
%DR@QQNKKN *MSDQM@BHNM@K 64"*%
&K *MRSHSTSN CD /TSQHBHbM CD $DMSQN@L_QHB@ X 1@M@L\ */$"1
RD
BNMBHAHb HMHBH@KLDMSD BNLN HMRSHSTSN CD @M\KHRHR CD KNR @KHLDMSNR O@Q@ (T@SDL@K@ "TMPTD RD @LOKHb RT
BNLDSHCN
DK@M\KHRHRCDKNR@KHLDMSNRCD"L_QHB@$DMSQ@KSDM`@TM@OQHNQHC@CDKDU@C@XTM@CDRTROQHLDQ@R
OTAKHB@BHNMDR ETD TM@ t5@AK@ CD $NLONRHBHbM CD "KHLDMSNR CD $DMSQN@L_QHB@ X 1@M@L\u
DK@ANQ@C@
BNMITMS@LDMSDBNMK@'"0
4HM DLA@QFN
DM KNR CDBDMHNR RHFTHDMSDR K@ EHM@MBH@BHbM X DK HMSDQ_R RD CDROK@Y@QNM G@BH@ KNR DRSTCHNR CD
MTSQHBHbM &K @M\KHRHR CD KNR @KHLDMSNR X K@ BNLOHK@BHbM CD A@RDR CDC@SNR CD MTSQHDMSDRDM KNR O@`RDR DM
CDR@QQNKKN PTDC@QNM KHLHS@CNR @ TM ODPTDaN MdLDQN CD K@ANQ@SNQHNR BNM DRB@R@ EHM@MBH@BHbM -NR C@SNR
CHRONMHAKDR RNAQD BNLONRHBHbM CD @KHLDMSNR DQ@M B@C@ UDY L\R @MSHBT@CNR X RD A@R@A@M DM L_SNCNR
NARNKDSNR /NCDI@ CD RDQHQbMHBNPTD@K LHRLNSHDLON PTD @TLDMS@A@MKNRDRSTCHNRRNAQDK@ MTSQHBHbM
GTL@M@
ETDQ@S@LAH_MB@C@UDYL@XNQK@MDBDRHC@CCDCHRONMDQCDC@SNREHCDCHFMNRCDBNLONRHBHbMCD
@KHLDMSNR&M
TMODPTDaNFQTONCDMTSQHBHNMHRS@RCD\LAHSNHMSDQM@BHNM@KBNLDMYb@OQDNBTO@QRD
ONQK@BQDBHDMSDNARNKDRBDMBH@DHM@CDBT@BHbMCDKNRC@SNRCHRONMHAKDRCDBNLONRHBHbMCD@KHLDMSNR
RNAQD
SNCNDMKNRO@`RDRDMCDR@QQNKKN
XKKDFb@K@BNMBKTRHbMCDPTDK@RHST@BHbMDQ@TQFDMSD1NQDIDLOKN
G@A`@
DRSTCHNR OQNLDSDCNQDR RNAQD K@ @KHLDMS@BHbM X K@R DMEDQLDC@CDR BQbMHB@R PTD PTDC@A@M HMU@KHC@CNR
ONQPTDKNRC@SNRCDBNLONRHBHbMCD@KHLDMSNRMNDQ@MEHCDCHFMNR
&KFQTONOTCNBNMS@QBNM@ONXN@CLHMHRSQ@SHUNXEHM@MBHDQNCDK@6MHUDQRHC@CCDK@R/@BHNMDR6MHC@R
DK
TRN CDK $DMSQN CD $NMEDQDMBH@R CD K@ 'TMC@BHbM 3NBJDEDKKDQ CD #DKK@FHN
*S@KH@
X @XTC@ CDK *MRSHSTSN
/@BHNM@K CDK $\MBDQ CD KNR &RS@CNR 6MHCNR
DK %DO@QS@LDMSN CD "FQHBTKSTQ@ CD KNR &RS@CNR 6MHCNR
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"CLHMHRSQ@BHbM CD "KHLDMSNR X .DCHB@LDMSNR CD KNR &RS@CNR 6MHCNR X RHDSD DLOQDR@R @KHLDMS@QH@R
HLONQS@MSDR "CDL\R DRS@A@M QDOQDRDMS@C@R K@ '"0
K@ 0QF@MHY@BHbM .TMCH@K CD K@ 4@KTC 0.4
K@
6MHbM *MSDQM@BHNM@K CD $HDMBH@R CD K@ /TSQHBHbM *6/4
X K@ 6MHbM *MSDQM@BHNM@K CD K@ $HDMBH@ X K@
5DBMNKNF`@ CD K@ "KHLDMS@BHbM *6'045
&K O@SQNBHMHN ONMD CD L@MHEHDRSN K@ HLONQS@MBH@ PTD G@
@CPTHQHCNDRS@BTDRSHbM
&MK@QDTMHbMCD#DKK@FHNCDRDOQNOTRNK@ENQL@BHbMCDTM@3DCHMSDQM@BHNM@KCDRHRSDL@RCDC@SNR
RNAQD@KHLDMSNR */'00%4
PTD@CLHMHRSQ@Q`@ K@6MHUDQRHC@C CDK@R/@BHNMDR6MHC@RDMBNK@ANQ@BHbM
BNM K@ '"0 X PTD DRS@AKDBDQ`@ CDODMCDMBH@R O@Q@ K@ OQNLNBHbM CD TM@ A@RD CD C@SNR LDINQ@C@ CD
BNLONRHBHbMCD@KHLDMSNRDMSNCNRKNRO@`RDRXQDFHNMDRXPTDNEQDBDQ`@@KNROQNEDRHNM@KDRCDK@MTSQHBHbM
XK@R@KTCCDSNCNRKNRO@`RDRDMCDR@QQNKKN@BBDRNKHAQD@KNRLDINQDRC@SNRCHRONMHAKDRCDBNLONRHBHbMCD
@KHLDMSNR 1@Q@ DKKN RDQ`@ MDBDR@QHN TM RHRSDL@ CD MNLDMBK@STQ@ CD TRN TMHUDQR@K X K@ CDEHMHBHbM CDK
BNMSDMHCNDRODB`EHBNCDTM@QBGHUNCDC@SNRHCD@K
$NM K@ BNK@ANQ@BHbM CD K@ '"0 X K@ 6MHUDQRHC@C CD K@R /@BHNMDR 6MHC@R RD BNMRHFTHb DRSD NAIDSHUN DM
TMNR@aNR
FQ@BH@R@KQ\OHCNDHMDRODQ@CNCDR@QQNKKNCD*MSDQMDS
XRDBTLOKHbK@QDBNLDMC@BHbMCDBQD@Q
TM@QDUHRS@
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.\RS@QCD
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K@QDRONMR@AHKHC@C@CLHMHRSQ@SHU@CDK@*/'00%4XDK+'$"-@ENQL@BHbMDRTM@RODBSNPTDMNRD
G@ CDRBTHC@CN -NR S@KKDQDR CD ENQL@BHbM AHDM@KDR HLO@QSHCNR DM K@ 6MHUDQRHC@C CD 8@FDMHMFDM G@M
CDRDLODa@CN TM@ ETMBHbM HLONQS@MSD
@K HFT@K PTD DK KHAQN CD SDWSN A\RHBN CD (QDDMEHDKC X 4NTSGF@SD
-@;? 01 /;9<;?5/5J: 01 -8591:@;? O ;.@1:/5J: 31?@5J: E A@585F-/5J: -NR FQ@CT@CNR CDK BTQRN CD
8@FDMHMFDMKNG@MHLO@QSHCN@RTUDYU@QH@RUDBDRDMK@L@XNQO@QSDCDK@RQDFHNMDR
@TMPTDB@C@UDYDR
L\RCHE`BHKNASDMDQ@XTC@EHM@MBHDQ@O@Q@BTQRNRQDFHNM@KDR
)@X @GNQ@ TM QDBNMNBHLHDMSN BQDBHDMSD CD PTD
RH AHDM K@R CDEHBHDMBH@R MTSQHBHNM@KDR RHFTDM RHDMCN
HLONQS@MSDR DM @KFTM@R ONAK@BHNMDR
K@ MTSQHBHbM DR A\RHB@LDMSD TM E@BSNQ OQHLNQCH@K OQ\BSHB@LDMSD DM
SNC@R K@R DMEDQLDC@CDR HMEDBBHNR@R X BQbMHB@R CD SNC@R K@R ONAK@BHNMDR $T@MSN L\R RD HMUHDQS@ DM
CDRBTAQHQ PT_ MTSQHDMSDR X NSQNR HMFQDCHDMSDR CD KNR @KHLDMSNR RNM KNR B@TR@MSDR
L\R HLONQS@MBH@
@CPTHQHQ\M K@R A@RDR CD C@SNR CD BNLONRHBHbM CD @KHLDMSNR EHCDCHFM@R X L@XNQ RDQ\ K@ MDBDRHC@C CD
CHRONMDQ CD @M@KHRS@R X CD FDRSNQDRX TRT@QHNR CD A@RDR CD C@SNR CD @KHLDMSNR BNM ATDM@ ENQL@BHbM -@
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QDBNMNBHLHDMSNL@XNQXL\R@LOKHNPTDMTMB@CDK@ETMBHbMCDK@MTSQHBHbMGTL@M@DMDKDRS@CNCDK@
R@KTC OQDRDMSD X ETSTQN
RHMN PTD S@LAH_M RD QDFHRSQ@ TM@ CDL@MC@ B@C@ UDY L@XNQ CD HMRSQTLDMSNR CD
@OQDMCHY@ID @ CHRS@MBH@ BNLN _RSNR
PTD DM @KFTMNR B@RNR RTRSHSTXDM DK @OQDMCHY@ID OQDRDMBH@K
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5DGDQ\M
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%DRCDDKDRS@AKDBHLHDMSNCDK@3DCHMSDQM@BHNM@KCDRHRSDL@RCDC@SNRRNAQD@KHLDMSNR */'00%4
DM
RD G@ QDFHRSQ@CN TM@ LDINQ@ RHFMHEHB@SHU@ DM K@ B@KHC@C X CHRONMHAHKHC@C CD KNR C@SNR CD
BNLONRHBHbMCD@KHLDMSNRDMSNCNDKLTMCN-@*/'00%4G@DK@ANQ@CNMNQL@RXCHQDBSQHBDRO@Q@
K@QDBNOHK@BHbM
BNLOHK@BHbMXMNSHEHB@BHbMCDC@SNRCDBNLONRHBHbMCD@KHLDMSNR-@QDCBNK@ANQ@
DMK@CHETRHbMCDBNMNBHLHDMSNRQDK@SHUNR@K@BNLONRHBHbMCD@KHLDMSNRXK@RMNQL@R@KHLDMS@QH@R
LDCH@MSDBTQRNRQDFHNM@KDRCDENQL@BHbMRNAQDK@NASDMBHbMXFDRSHbMCDC@SNRCDBNLONRHBHbMCD
@KHLDMSNR-NRBTQRNROQDRDMBH@KDRCDENQL@BHbMRNAQDBNLONRHBHbMCD@KHLDMSNRBNLDMY@QNMDM
%DRCDDMSNMBDRRDG@MBDKDAQ@CNMTDUDBTQRNRDM8@FDMHMFDM 1@`RDR#@INR
XDMwEQHB@
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DK $DQB@MN 0QHDMSD X 0BD@M`@ -NR BTQRNR RD A@R@M DM DK KHAQN -@;? 01
/;9<;?5/5J:01-8591:@;?O;.@1:/5J:31?@5J:EA@585F-/5J:
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BNLOQDMCDM BK@RDR SDbQHB@R
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BTQRNR
DMKNRPTDO@QSHBHO@MCD@ODQRNM@R
CTQ@MCDCNR@SQDRRDL@M@R
@A@QB@MCNSNCNRKNR
@RODBSNR HLONQS@MSDR CD K@ BNLONRHBHbM CD @KHLDMSNR
X DRS\M NQHDMS@CNR @ OQNEDRHNM@KDR PTD RD
NBTO@M CD K@ NASDMBHbM
BNLOHK@BHbM X TSHKHY@BHbM CD C@SNR CD BNLONRHBHbM CD @KHLDMSNR
MNQL@KLDMSDOQNBDCDMSDRCD\LAHSNRBNLNK@RBHDMBH@RCDK@MTSQHBHbM
K@BHDMBH@CDKNR@KHLDMSNR
K@ R@KTC OdAKHB@ X K@ PT`LHB@ @M@K`SHB@ &RSNR BTQRNR BNMSQHATXDM @ K@ BQD@BHbM CD B@O@BHC@C X DK
ENQS@KDBHLHDMSNCDK@R@BSHUHC@CDRQDK@SHU@R@K@BNLONRHBHbMCD@KHLDMSNR@MHUDKM@BHNM@KXQDFHNM@K
K@ L@XNQ CHRONMHAHKHC@C
BNLO@Q@AHKHC@C X B@KHC@C CD KNR C@SNR CD BNLONRHBHbM CD @KHLDMSNR
K@
LDINQTSHKHY@BHbMCDDRSNRC@SNR
XK@ENQL@BHbMCDHMRSQTBSNQDR
BNMDKNAIDSHUNdKSHLNCD@TLDMS@Q
K@ B@KHC@C X B@MSHC@C CD C@SNR CD BNLONRHBHbM
C@MCN KTF@Q
ONQ DIDLOKN
@ TM@ LDINQ@ CD K@R
DU@KT@BHNMDR CD K@ @KHLDMS@BHbM
K@R CDBHRHNMDR MNQL@SHU@R
DK DSHPTDS@CN CD KNR @KHLDMSNR X K@
DKDBBHbMONQO@QSDCDKNRBNMRTLHCNQDR
"KEHM@KCDG@A`@M@RHRSHCN@DRNRBTQRNRTMNRO@QSHBHO@MSDR4DG@MC@CNLTBGNRB@RNRCD
@MSHFTNR@KTLMNRPTDG@M@RTLHCNOTDRSNRETMC@LDMS@KDRDMK@@OKHB@BHbMCDKNROQNFQ@L@RRNAQD
BNLONRHBHbMCD @KHLDMSNRDMRTRO@`RDRX QDFHNMDR XRDG@MBNMUDQSHCN DMHMRSQTBSNQDR DM BTQRNR
ONRSDQHNQDR
LHDMSQ@R PTD NSQNR G@M @A@MCNM@CN DRSD RDBSNQ 4HFTDM RHDMCN LTBGNR KNR
OQNEDRHNM@KDR PTD MTMB@ G@M QDBHAHCN HMRSQTBBHbM RNAQD K@ BNLONRHBHbM CD @KHLDMSNR X SHDMDM
MDBDRHC@C CD DRSD SHON CDBNMNBHLHDMSNR "CDL\R
DK MdLDQN CD RDBSNQDRDM KNR PTD RDMDBDRHS@M
C@SNR CD BNLONRHBHbM CD @KHLDMSNR RD DRS\ @LOKH@MCN @ DREDQ@R BNLN K@ AHNCHUDQRHC@C
K@
EHSNFDM_SHB@
K@CHUDQRHC@CCDK@@KHLDMS@BHbMXK@HMCTRSQH@XK@QDFK@LDMS@BHbM@KHLDMS@QH@R
ONQBHS@Q
@KFTMNR DIDLOKNR "R` OTDR
DR DUHCDMSD X L@MHEHDRS@ K@ MDBDRHC@C @ DRB@K@ LTMCH@K CD L\R
OQNEDRHNM@KDR BNM ENQL@BHbM RNAQD BNLONRHBHbM CD @KHLDMSNR X CD HMSQNCTBHQ K@ BNLONRHBHbM CD
@KHLDMSNRDMDKOQNFQ@L@CDDRSTCHNRCDKNRETSTQNROQNEDRHNM@KDR
DMO@QSHBTK@QKNRMTSQHBHNMHRS@R
KNRDRODBH@KHRS@RDMSDBMNKNF`@CDKNR@KHLDMSNRXKNRCHDSHRS@R/NNARS@MSD
KNRBTQRNROQDRDMBH@KDR
RNMBNRSNRNRXQDPTHDQDMSHDLONS@MSNCDKNRO@QSHBHO@MSDRBNLNCDKNRNQF@MHY@CNQDR
XK@@XTC@
EHM@MBHDQ@O@Q@CHBG@R@BSHUHC@CDRDRS\CHRLHMTXDMCN
&MBNMRNM@MBH@BNMK@SDMCDMBH@@BST@K
RDFdMK@BT@KK@DCTB@BHbMODQL@MDMSDX@MNRDKHLHS@@K@R
@TK@RXKNROQNEDRHNM@KDR@OQDMCDMDMDKSQ@A@INTSHKHY@MCNHMRSQTLDMSNRCD@OQDMCHY@IDDKDBSQbMHBNX
@CHRS@MBH@
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PTD
DRTM@UDQRHbMCDKBTQRNOQDRDMBH@KO@Q@@TSNHMRSQTBBHbM $G@QQNMCHDQD1@-8
6MNCDKNRQDSNRDMK@DK@ANQ@BHbMCDDRS@(T`@CDDRSTCHNDRS@A@DMBNMRDFTHQPTDETDQ@@SQ@BSHU@X
BNLOQDMRHAKDO@Q@ODQRNM@RCDCHEDQDMSDRMHUDKDRDCTB@SHUNR
@EHMCDL@MSDMDQK@LNSHU@BHbMCDKNR
DRSTCH@MSDR X @KDMS@QKNR @ BNLOKDS@Q KNR LbCTKNR BNQQDRONMCHDMSDR -@ AI- <->- 18 1?@A05; 01 8-
/;9<;?5/5J: 01 -8591:@;? DR TM@ CD K@R HMHBH@SHU@R CD K@ '"0 O@Q@ @KDMS@Q X OQNLNUDQ K@ DCTB@BHbM
ODQL@MDMSDDM@BSHUHC@CDRQDK@BHNM@C@RBNMK@BNLONRHBHbMCD@KHLDMSNR
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CDRSHM@S@QHNR X G@BDQ L\R @BBDRHAKDR X LDMNR BNRSNRNR KNR BNMNBHLHDMSNR RNAQD BNLONRHBHbM CD
$G@QQNMCHDQD
63
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4X&KL@CE@
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@KHLDMSNR
DRODBH@KLDMSDO@Q@PTHDMDRMNOTDCDM@RHRSHQ@BTQRNROQDRDMBH@KDR"KLHRLNSHDLON
DK
NAIDSHUN DQ@ F@Q@MSHY@Q PTD MN RD UHDQ@ BNLOQNLDSHC@ K@ B@KHC@C CDK BTQRN OQDRDMBH@K 4D OTDCD
TSHKHY@Q BNLN FT`@ CD @TSN@OQDMCHY@ID
DM \LAHSN TMHUDQRHS@QHN N DM BTQRNR CD ONRSFQ@CN RNAQD
BNLONRHBHbM CD @KHLDMSNR ONQ DIDLOKN
DM K@R DU@KT@BHNMDR O@QBH@KDR N EHM@KDR CDK BTQRN
BNLN
SDWSN CD QDO@RN CDROT_R CDK BTQRN
N BNLN HMRSQTLDMSN CD @OQDMCHY@ID @ CHRS@MBH@
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DRSTCHNRDG@TSHKHY@CNBNM_WHSNDMSNCNRDRSNRB@RNR
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BNLONRHBHbMCD@KHLDMSNR
@R`BNLN@KNR@M@KHRS@R5@LAH_MOQDSDMCDRDQUHQCDA@RDO@Q@BK@RDRCD
KHBDMBH@STQ@X CNBSNQ@CNNO@Q@OQNFQ@L@RCDDMRDa@MY@@CHRS@MBH@DMK@R TMHUDQRHC@CDR"KFTM@R
TMHUDQRHC@CDRX@G@MLNRSQ@CNHMSDQ_RONQHMBKTHQK@DMRTROQNFQ@L@RCDDRSTCHN%@CNPTDK@(T`@
CDDRSTCHN@A@QB@SNCNRKNR@RODBSNRQDK@BHNM@CNRBNMK@BNLONRHBHbMCD@KHLDMSNR
ODQLHSHQ\@KNR
DRSTCH@MSDR@RHLHK@QSNCNRKNROQHMBHOHNRO@Q@NASDMDQ
BNLOHK@QXTSHKHY@QC@SNRCDBNLONRHBHbMCD
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K@BDKTKNR@XK@GDLHBDKTKNR@
HMRNKTAKD
'HAQ@AQTS@4DCDR@BNMRDI@RTTRNDMK@MTSQHBHbMGTL@M@ONQPTDRNK@LDMSDRDCDSDQLHM@MEQ@BBHNMDR
CDKHFMHM@
BDKTKNR@XGDLHBDKTKNR@
'HAQ@
L_SNCNRCDRBNMNBHCNRNLHWSNR
6RNQDBNLDMC@CNDMK@RS@AK@RXA@RDRCDC@SNRCDBNLONRHBHbMCD@KHLDMSNR
&K L\R QDBNLDMC@CN
ONQPTD RD CDSDQLHM@M B@RH BNLOKDS@LDMSD KNR BNLONMDMSDR BNM ETMBHNMDR CD
EHAQ@CHDS_SHB@ RDKDBBHNMDRbKNTMNCDKNRHCDMSHEHB@CNQDR
&KLDMNRQDBNLDMC@CN
ONQPTDDRNARNKDSNDMK@MTSQHBHbMGTL@M@ RDKDBBHNMDRbKNTMHCDMSHEHB@CNQ
$K@RHEHB@BHbMCDKNRU@KNQDRCDKNRMTSQHDMSDR
&K HCDMSHEHB@CNQ
ONQ KN FDMDQ@K
C@ DK U@KNQ L\R @KSN CD SNC@R K@R CDEHMHBHNMDR RDKDBBHNMD RbKN TM
HCDMSHEHB@CNQ
&K HCDMSHEHB@CNQ
ONQ KN FDMDQ@K
C@ DK U@KNQ L\R A@IN CD SNC@R K@R CDEHMHBHNMDR RDKDBBHNMD RbKN TM
HCDMSHEHB@CNQ
(V:KBE8aB7L;I
$:;DJ?<?97:EH CF7H;@7C?;DJE 0IEH;9EC;D:7:E;DB7I B7I?<?979?VD:;BEIL7BEH;I
9EDB7:;<?D?9?VD J78B7IO87I;I:;:7JEI:; :;BEIDKJH?;DJ;I;DBEI
9ECFEI?9?VD:;7B?C;DJEI 7B?C;DJEIH?9EI;D<?8H7
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/N G@X TM @BTDQCN HMSDQM@BHNM@K RNAQD K@ CDEHMHBHbM OQDEDQHAKD CD EHAQ@ CHDS_SHB@
ODQN K@ '*#5(
QDOQDRDMS@DKL_SNCNPTDHMBKTXDK@REQ@BBHNMDRCDK@EHAQ@CDK@L@MDQ@L\RBNLOKDS@4DDRS\MDK@ANQ@MCN
NSQNRL_SNCNR@M@K`SHBNRO@Q@CDSDQLHM@QDK@KLHCbMQDRHRSDMSDHMBKTRNCDL@MDQ@L\R@LOKH@
:1?J7C?D7FKDJEI
oFKDJEFEH97:7H;IFK;IJ79EHH;9J7
%DEHMHBHNMDR
7HS@LHM@ $
RTL@ CDK \BHCN -@RBbQAHBN X DK \BHCN -CDGHCQN@RBbQAHBN 4D @M@KHY@M FDMDQ@KLDMSD
LDCH@MSDBQNL@SNFQ@E`@K`PTHC@CD@KSNQDMCHLHDMSN )1-$
wBHCN-@RBbQAHBN-NRU@KNQDRRNMBNLO@Q@AKDRBNMKNRCDK@UHS@LHM@$DMKNR@KHLDMSNRRHMDK@ANQ@Q
$NMK@U@KNQHLDSQ`@RDOTDCD@M@KHY@QRNKNDK\BHCN-@RBbQAHBN
6RNQDBNLDMC@CNDMK@RS@AK@RXA@RDRCDC@SNRCDBNLONRHBHbMCD@KHLDMSNR
3DBNLDMC@CN
"BDOS@AKDO@Q@K@REQTS@RXGNQS@KHY@REQDRB@R
$K@RHEHB@BHbMCDKNRU@KNQDRCDKNRMTSQHDMSDR
&KHCDMSHEHB@CNQ@QQNI@DKU@KNQL\R@KSNCDSNC@RK@RCDEHMHBHNMDR
&KHCDMSHEHB@CNQ@QQNI@DKU@KNQL\RA@INCDSNC@RK@RCDEHMHBHNMDR
$:;DJ?<?97:EH CF7H;@7C?;DJE9ED 0IEH;9EC;D:7:E;DB7IJ78B7I B7I?<?979?VD:;BEI
B7:;<?D?9?VD O87I;I:;:7JEI:; L7BEH;I:;BEI
9ECFEI?9?VD:;7B?C;DJEI DKJH?;DJ;I
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wBHCNEbKHBN\BHCNEbKHBNRHMS_SHBNTSHKHY@CNDMDKDMQHPTDBHLHDMSN
'NK@SNSNS@KENK@SNCDKNR@KHLDMSNR\BHCNEbKHBN*MBKTXDS@MSNDKENK@SNBNMITF@CNBNLNDKKHAQDXRD
CDSDQLHM@LDCH@MSDDMR@XNLHBQNAHNKbFHBN
'NK@SNR CD KNR @KHLDMSNR
OQDRDMSDR CD L@MDQ@ M@STQ@K DM DKKNR 4D @M@KHY@ LDCH@MSD DMR@XN
LHBQNAHNKbFHBN
&PTHU@KDMSDCDENK@SNRCHDS_SHBNR &'%
ENK@SNRCDKNR@KHLDMSNR OSDQNHKONKHFKTS@L@SNR
W\BHCN
EbKHBNRHMS_SHBN \BHCNOSDQNHKLNMNFKTS\LHBN
4TL@ CD KNR UHS\LDQNR CD KNR ENK@SNR CDSDQLHM@CNR ONQ BQNL@SNFQ@E`@ K`PTHC@ CD @KSN QDMCHLHDMSN
)1-$
$NLOQDMCD RNAQD SNCN DK SDSQ@GHCQNENK@SN
DK LDSHKSDSQ@GHCQNENK@SN
DK
ENQLHKSDSQ@GHCQNENK@SN
DK\BHCNENQLHKEbKHBN
DKENQLHKCHGHCQNENK@SNXDK\BHCNEbKHBN
$K@RHEHB@BHbMCDKNRU@KNQDRCDKNRMTSQHDMSDR
&K HCDMSHEHB@CNQ @QQNI@ DK U@KNQ L\R @KSN CD SNC@R K@R CDEHMHBHNMDR )@X SQDR HCDMSHEHB@CNQDR BNM
B@MSHC@CDRHFT@KDRpHMCHPTDO@Q@KNRSQDR
&KHCDMSHEHB@CNQ@QQNI@DKRDFTMCNU@KNQL\R@KSNCDSNC@RK@RCDEHMHBHNMDR
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&KHCDMSHEHB@CNQ@QQNI@DKRDFTMCNU@KNQL\R@KSNCDSNC@RK@RCDEHMHBHNMDR
&KHCDMSHEHB@CNQ@QQNI@DKSDQBDQU@KNQL\R@KSNCDSNC@RK@RCDEHMHBHNMDR
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$:;DJ?<?97:EH B7I?<?979?VD:;BEIL7BEH;I:;BEIDKJH?;DJ;I;DBEI7B?C;DJEI;DH?GK;9?:EI
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1@Q@RTHMENQL@BHbM
"KFTM@R S@AK@R X A@RDR CD C@SNR CD BNLONRHBHbM CD @KHLDMSNR X NSQ@R ETDMSDR TSHKHY@M DQQbMD@LDMSD DK
S_QLHMNt\BHCNEbKHBNuBT@MCNDMQD@KHC@CKNPTDPTHDQDMCDBHQDRtENK@SNu&RSNRDCDADDUHS@QONQPTDBQD@
BNMETRHbM &K \BHCN EbKHBN MN RD DMBTDMSQ@ M@STQ@KLDMSD DM KNR @KHLDMSNR ODQN RD TSHKHY@ DM DK
DMQHPTDBHLHDMSN
&M K@ L@XNQ`@ CD KNR B@RNR
KNR U@KNQDR NASDMHCNR ONQ DK L_SNCN LHBQNAHNKbFHBN RNM B@RH RHDLOQD
RHFMHEHB@SHU@LDMSD RTODQHNQDR @ KNR CD K@ )1-$ &RSD dKSHLN L_SNCN RD RHFTD ODQEDBBHNM@MCN
ODQN ONQ
@GNQ@ DK L_SNCN OQDEDQHCN DR DK L_SNCN LHBQNAHNKbFHBN 4HM DLA@QFN
TM MdLDQN B@C@ UDY L@XNQ CD
S@AK@RXA@RDRCDC@SNRCDBNLONRHBHbMCD@KHLDMSNRBNMSHDMDMU@KNQDRCDENK@SNCDSDQLHM@CNRLDCH@MSD
)1-$%@CNPTDK@)1-$@QQNI@U@KNQDRL\RA@INR
K@RDRSHL@BHNMDRCDK@HMFDRS@CDMTSQHDMSDRDMDRSNR
B@RNRRNMS@LAH_ML\RA@I@R
KNPTDHLOKHB@TMDMQHPTDBHLHDMSNCDENK@SNL@XNQ
&MKNR@KHLDMSNRMNDMQHPTDBHCNR
DKENK@SNSNS@K '0-
DKDPTHU@KDMSDCDENK@SNCHDS_SHBN '0-%'&
XDK
ENK@SNM@STQ@KCDKNR@KHLDMSNR '0-'%
SHDMDMK@LHRL@B@MSHC@CCDENK@SNONQPTDDK\BHCNEbKHBNDRBDQN
X
ONQBNMRHFTHDMSD
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CDENK@SN '0-46.
DRL\RA@I@ONQPTDMNRD@OQNUDBG@SNCNDKENK@SNOQDRDMSDCDL@MDQ@M@STQ@K
XDK
\BHCNEbKHBNRHMS_SHBN '0-"$
DRDKPTDSHDMDDKU@KNQL\RA@INCDSNCNRONQPTDDRBDQN
&MKNR@KHLDMSNRDMQHPTDBHCNR
BT@MCNK@B@MSHC@CCD\BHCNEbKHBNDRL@XNQPTDK@CDENK@SNOQDRDMSDCD
L@MDQ@M@STQ@K
DK'0-%'&FDMDQ@DKU@KNQL\R@KSNONQPTDK@B@MSHC@CCD\BHCNEbKHBNRDLTKSHOKHB@ONQ
7@RDFTHCNCDK'0- PTDDRK@RTL@CDKENK@SNXDK\BHCNEbKHBN
KTDFNDK'0-46. ONQPTDHMBKTXDDK
ENK@SN M@STQ@K X DK \BHCN EbKHBN
ODQN BNM TM U@KNQ L\R A@IN PTD DK '0- CDAHCN @ K@ CDSDQLHM@BHbM CDK
)1-$
XKTDFNDK'0-"$ PTD
BNLNRDDRODBHEHB@DMDKSDWSN
SHDMDTMU@KNQL\R@KSNPTDDKCDKENK@SN
M@STQ@K
&K'0-'%SHDMDDKU@KNQL\RA@IN
OTDRSNPTDHMBKTXDRbKNDKENK@SNM@STQ@KCDKNR@KHLDMSNR
(V:KBE8aB7L;I
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%DEHMHBHNMDR
"BSHUHC@CSNS@KCDK@UHS@LHM@"DWOQDR@C@DMkFCDDPTHU@KDMSDCDQDSHMNK &3
kFCDQDSHMNK
kFCDB@QNSDMNkFCDNSQNRB@QNSDMNHCDRCDOQNUHS@LHM@" NAHDM&3kFCDQDSHMNK
kFCDDPTHU@KDMSDCDB@QNSDMNCNMCDDPTHU@KDMSDRCDB@QNSDMNB@QNSDMN
B@QNSDMN
BQHOSNW@MSHM@
-@@BSHUHC@CSNS@KCDK@UHS@LHM@"DWOQDR@C@DMkFCDDPTHU@KDMSDCD@BSHUHC@CCDQDSHMNK &"3
RDTR@
ONQDIDLOKN
DMK@A@RDCDC@SNRCDK%DO@QS@LDMSNCD"FQHBTKSTQ@CDKNR&RS@CNR6MHCNR 64%"
kF
CDQDSHMNKkFCDB@QNSDMNkFCDNSQNRB@QNSDMNHCDRCDOQNUHS@LHM@" NAHDM&3
kFCDQDSHMNKkFB@QNSDMNkFB@QNSDMNkFBQHOSNW@MSHM@
7HS@LHM@"
CDSDQLHM@C@ONQAHNDMR@XN
$K@RHEHB@BHbMCDKNRU@KNQDRCDKNRMTSQHDMSDR
&KHCDMSHEHB@CNQ@QQNI@DKMHUDKL\R@KSNCDSNC@RK@RCDEHMHBHNMDR
&KHCDMSHEHB@CNQ@QQNI@DKMHUDKL\RA@INCDSNC@RK@RCDEHMHBHNMDR
$:;DJ?<?97:EH CF7H;@7C?;DJE 0IEH;9EC;D:7:E;DB7IJ78B7IO *H:;D:;BEI
9EDB7:;<?D?9?VD 87I;I:;:7JEI:;9ECFEI?9?VD:; L7BEH;I:;BEI
7B?C;DJEI DKJH?;DJ;I
4'2
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QDSHMNK
kF CD /5? QDSHMNK
kF CD QDSHM@KCDG`CN 1@Q@ B@KBTK@Q K@ UHS@LHM@ " RD @a@CD K@
BNMSQHATBHbMCDKB@QNSDMN kFCDB@QNSDMNkFCDNSQNRB@QNSDMNHCDRCDOQNUHS@LHM@"
&MHMUDRSHF@BHNMDRQDBHDMSDRRDG@UHRSNPTDK@UHS@LHM@"B@KBTK@C@BNMDK&"3DRL\R@CDBT@C@
ONQPTD
K@ BNMUDQRHbM CD KNR B@QNSDMNR DM UHS@LHM@ " MN DR S@M DEDBSHU@ BNLN RD ODMR@A@ HMHBH@KLDMSD -@
AHNCHRONMHAHKHC@C QDRTKS@ @EDBS@C@ ONQ MTLDQNRNR E@BSNQDR X @KFTMNR BHDMS`EHBNR OHDMR@M PTD CDADQ`@M
@OKHB@QRDCHEDQDMSDRE@BSNQDR@KNRB@QNSDMNR
CDODMCHDMCNCDK@L@SQHY@KHLDMS@QH@1NCQ`@RDQdSHKBDKDAQ@Q
TM@BNMRTKS@HMSDQM@BHNM@KCDDWODQSNR@EHMCDKKDF@Q@TM@BTDQCNDMK@RDQHDL\R@OQNOH@C@CDE@BSNQDRCD
BNMUDQRHbM O@Q@ CDSDQLHM@Q K@ @BSHUHC@C CD K@ UHS@LHM@ " O@QSHQ CD KNR B@QNSDMNR BNM@OKHB@BHbM DM K@
BNLONRHBHbMCDKNR@KHLDMSNR
K@RMDBDRHC@CDR
K@RDRSHL@BHNMDRCDK@HMFDRS@CDMTSQHDMSDRXDKDSHPTDS@CN
=1?J7C?D7
<A:@;?V<A:@;<;>/-0->1?<A1?@-/;>>1/@-
%DEHMHBHNMDR
SNBNEDQNK &M @KFTM@R A@RDR CD C@SNR
ONQ DIDLOKN DM K@ A@RD CD C@SNR 43 CDK 64%" X NSQ@R
OTAKHB@BHNMDRONRSDQHNQDR
RDTSHKHY@O@Q@QDOQDRDMS@QK@UHS@LHM@&
7HS@LHM@ & SNBNEDQNKDR X SNBNSQHDMNKDR @BSHUNR
B@KBTK@CNR BNLN kF CD DPTHU@KDMSDR CD SNBNEDQNK
&"5N&5
SNBNEDQNK
SNBNEDQNK
SNBNEDQNK
SNBNEDQNK
SNBNSQHDMNK
SNBNSQHDMNK
SNBNSQHDMNK DKL\RTSHKHY@CN
SNBNEDQNK
SNBNEDQNK
SNBNEDQNK
SNBNSQHDMNK
SNBNEDQNK
SNBNEDQNK
SNBNEDQNK
SNBNEDQNK
7HS@LHM@&RDCDSDQLHM@ONQAHNDMR@XN
7HS@LHM@&L_SNCNCDRBNMNBHCNNU@QH@AKD
$K@RHEHB@BHbMCDKNRU@KNQDRCDKNRMTSQHDMSDR
&KHMCHB@CNQ@QQNI@DKU@KNQL\R@KSNCDSNC@RK@RCDEHMHBHNMDR
&KHMCHB@CNQ@QQNI@DKU@KNQL\RA@INCDSNC@RK@RCDEHMHBHNMDR
-@HMENQL@BHbMRNAQDKNRB\KBTKNRRDHMBKTXDLDCH@MSDDKL_SNCNCDK@RO@K@AQ@RBK@UD
(V:KBE8aB7L;I
$D:?97:EH CF7H;@7C?;DJE 0IEH;9EC;D:7:E;DJ78B7IO *H:;D:;BEI
9EDB7:;<?D?9?VD 87I;I:;:7JEI:;9ECFEI?9?VD L7BEH;I:;BEI
:;7B?C;DJEI DKJH?;DJ;I
4'2#
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RHAHDMDKNQF@MHRLNGTL@MN @ARNQADKNR
SNBNEDQNKDR X KNR SNBNSQHDMNKDR
MN KNR BNMUHDQSD DM SNBNEDQNK X K@ OQNSD`M@ SNBNEDQNK SQ@MREDQ@R@
551
CDKG`F@CN@ODM@RKNRQDBNMNBD1NQBNMRHFTHDMSD
DKHMENQLDBNMBKTXDPTDDKSNBNEDQNKDRDKdMHBN
SHON CD UHS@LHM@ & PTD K@ R@MFQD GTL@M@ OTDCD L@MSDMDQ X SQ@MREDQHQ @ K@R B_KTK@R BT@MCN RD MDBDRHS@
ONQPTDO@QDBDRDQK@dMHB@ENQL@CDUHS@LHM@&BNMTM@ATDM@@EHMHC@CO@Q@K@551GDO\SHB@
4DG@BDMDBDR@QHNKKDF@Q@TM@BTDQCNHMSDQM@BHNM@KRNAQDK@ONRHAHKHC@CCDTSHKHY@QDMDKETSTQNRbKNDK
SNBNEDQNK N DK &5 O@Q@ QDOQDRDMS@Q K@ UHS@LHM@ & DM K@R S@AK@R X A@RDR CD C@SNR CD BNLONRHBHbM CD
@KHLDMSNRO@Q@KNRQDPTHRHSNR
K@RDRSHL@BHNMDRCDK@HMFDRS@CDMTSQHDMSDRXDKDSHPTDS@CN
>1?J7C?D7
<A:@;?V<A:@;<;>/-0->1?<A1?@-/;>>1/@-
%DEHMHBHNMDR
7HS@LHM@ % %%
RTL@ CDK DQFNB@KBHEDQNK RbKN OQDRDMSD DM @KHLDMSNR CD NQHFDM UDFDS@K
X DK
BNKDB@KBHEDQNK OQDRDMSDDMKNR@KHLDMSNRCDNQHFDM@MHL@K
[RS@DRK@CDEHMHBHbML\RTSHKHY@C@
7HS@LHM@ % RD CDSDQLHM@ ONQ AHNDMR@XN -NR U@KNQDR CD KNR MTSQHDMSDR RTDKDM RDQ L\R @KSNR PTD KNR
U@KNQDRNASDMHCNRONQCDSDQLHM@BHbMPT`LHB@
7HS@LHM@%%WGHCQNWHBNKDB@KBHEDQNK TSHKHY@CNDMDK3DHMN6MHCNX%HM@L@QB@
KNRU@KNQDR
CDKNRMTSQHDMSDRRNML\R@KSNRPTDKNRCD%%DMKNR@KHLDMSNRQHBNRDMGHCQNWHBNKDB@KBHEDQNK
ONQ
DIDLOKNK@B@QMDCDBDQCN
$NKDB@KBHEDQNK 7HS@LHM@%
"UDBDRRDTSHKHY@O@Q@QDOQDRDMS@QK@UHS@LHM@%DMK@RS@AK@RXA@RDRCD
C@SNRCDBNLONRHBHbMCD@KHLDMSNR
$K@RHEHB@BHbMCDKNRU@KNQDRCDKNRMTSQHDMSDR
&KHCDMSHEHB@CNQ@QQNI@DKU@KNQL\R@KSNCDSNC@RK@RCDEHMHBHNMDR
$:;DJ?<?97:EH CF7H;@7C?;DJE 0IEH;9EC;D:7:E;D *H:;D:;BEI *H:;D:;BEI
9EDB7:;<?D?9?VD J78B7IO87I;I:; L7BEH;I:;BEI L7BEH;I:;BEI
:7JEI:; DKJH?;DJ;I;DB7 DKJH?;DJ;I;DBEI
9ECFEI?9?VD:; 97HD;:;9;H:E 7B?C;DJEI
7B?C;DJEI L;=;J7B;I
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1NCQ`@RDQL\RQ@YNM@AKDTME@BSNQCD
ODQNRDQ\MDBDR@QHNHMUDRSHF@QL\RDRS@BTDRSHbM
$18+ CF7H;@;BEIDEC8H;I78H;L?7:EI:;B7IL?J7C?D7I9EDKDEEL7H?EI9ECFED;DJ;IGK;
IEDI?DVD?CEIEJ?;D;D79J?L?:7:L?J7CTD?97<A:@;?V<A:@;<;>/-0->1?<A1?@-/;>>1/@-
3DROTDRS@ UD\MRDK@RO\FRCD,KDMRHM1@-8
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51@->E%121>1:/1:@-71?2;>)5@-95:)5@-95:&181:5A9-:0->;@1:;50?/@SHNM@K"B@CDLXNE
4BHDMBDR*MRSHSTSDNE.DCHBHMD'NNC@MC/TSQHSHNM#N@QC%HRONMHAKDDM
GSSOEMHBM@KTRC@FNUM@K>CHROK@XHMCDWOGO HMEN>BDMSDQS@W>KDUDKS@W>RTAIDBSSNOHB>HCKDUDK>HC
KDUDK>HC
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$)!**. O7 GK; I; 9EDI?:;HV CQI 7FHEF?7:E J;D;H KD7 7=HKF79?VD :; BEI 9ECFED;DJ;I
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B7H7PVD:;B7:?<?9KBJ7::;7=HKF79?VD:;BEI9ECFED;DJ;IFKDJE
3DROTDRS@ UD\MRDK@RO\FRCD,KDMRHM1@-8
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GBPIJN>JHKJI@IO@NKJ?M[<IK@MO@I@>@M<HYN?@PIBMPKJ
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%1/A1>01=A1-8@>-.-6->/;:D/184-E=A1?1>9AE/A50-0;?;/A-8=A51>1>>;>1:A:-2J>9A8-;-8/;<5->E<13->#13-0;
1?<1/5-8<->-8;?B-8;>1?;#13-><->-8-?2J>9A8-?;-85:?1>@->0-@;?0-8A3->-/G8/A8;?1>>J:1;?#;>/;:?53A51:@1B1>525=A1
?519<>1=A18-?2J>9A8-??1/;>>1?<;:01:/;:8-?/-?588-?-<>;<5-0-?E-:@1?01A@585F->P#13->QQ#13-0;1?<1/5-8Q;P:?1>@->Q
<51:?1?5?1@>-@-018-2A:/5J:/;>>1/@-=A1:1/1?5@--<85/->
$NOHDK@K`MD@ SNL@SDL@CTQNBQTCNpQDFHRSQNEHM@K
CDK@GNI@CDSQ@A@INCDK@tA@RDCDC@SNR
CDQDEDQDMBH@uXO_FTDK@DMK@GNI@CDSQ@A@INCDKNRtB\KBTKNRCDQDBDS@RuDMK@K`MD@6SHKHBDK@
ETMBHbM1&("%0&41&$*"-p7"-03&4
$NOHD K@ K`MD@ SNL@SD GDQUHCN
CD K@ GNI@ CD SQ@A@IN CD K@ tA@RD CD C@SNR CD QDEDQDMBH@u X
O_FTDK@DMK@GNI@CDSQ@A@INCDKNRtB\KBTKNRCDQDBDS@RuDMK@K`MD@
(V:KBEaB7L;I
-TDFNG@F@KNRHFTHDMSDDMK@GNI@CDSQ@A@INCDKNRtB\KBTKNRCDQDBDS@Ru
$NOHDK@RK`MD@RDMK@RK`MD@R DRCDBHQ
BNOHDSNC@RK@REbQLTK@RO@Q@DKB\KBTKNCD
TM@ QDBDS@ CD TM RNKN HMFQDCHDMSD CDK DIDLOKN CDK @QQNYGDQUHCN O@Q@ B@KBTK@Q KNR U@KNQDR CD KNR
MTSQHDMSDRCDKSNL@SDGDQUHCNA@R\MCNRDDMDKSNL@SDBQTCN
1NMF@ O@Q@F
DMK@B@RHKK@&XO@Q@DKE@BSNQBNLDRSHAKDCDKSNL@SDGDQUHCN B@RHKK@
2
X@PTDDKSNL@SDGDQUHCNDRONQBHDMSNBNLDRSHAKD
*MSQNCTYB@ DK E@BSNQ CD QDMCHLHDMSN CD
#DQFRSQcL
DM & X DK RHRSDL@ B@KBTK@Q\ DK
ODRN BNBHM@CN U_@RD DK B@LAHN DM K@ B@RHKK@ & DK ODRN BNBHM@CN RD BNMUHDQSD DM F
B@KBTK@CN@O@QSHQCDFCDSNL@SDBQTCN@OKHB@MCNDKE@BSNQCDQDMCHLHDMSNCD
"GNQ@MDBDRHS@@ITRS@QK@EbQLTK@CDL@MDQ@PTDRDNASDMF@DKE@BSNQCDQDSDMBHbMCDMTSQHDMSDR
O@Q@K@RGNQS@KHY@RGDQUHC@RXDKE@BSNQCDQDMCHLHDMSNCDKSNL@SDGDQUHCN$@LAHDK@EbQLTK@CDK
OQHLDQ MTSQHDMSD &/&3$J+
NQHFHM@K
DM K@ B@RHKK@ 3 -@ EbQLTK@ CDAD RDQ
3&3/NNKUHCDONMDQDKRHFMN@KBNLHDMYNCDK@EbQLTK@
RHMNDKRHRSDL@MN
QDBNMNBDPTDK@B@RHKK@BNMSHDMDTM@EbQLTK@
N9;FJE F7H7 ;B 7=K7 O ;B 3) BNOHD DRS@ EbQLTK@ DM SNC@R K@R B@RHKK@R CD K@ K`MD@ GK;
J?;D;D KD L7BEH :; BEI DKJH?;DJ;I ;D B7 BTD;7
RH @OKHB@ K@ EbQLTK@ DM TM@ B@RHKK@ PTD MN
SDMF@ TM U@KNQ CD KNR MTSQHDMSDR CDK SNL@SD BQTCN &WBDK BQD@Q\ TM U@KNQ BDQN O@Q@ DK SNL@SD
GDQUHCN4DQ`@TMDQQNQHLONQS@MSD"R`OTDR
G@XPTDSDMDQBTHC@CN@EHMCDDUHS@QBQD@QU@KNQDR
BDQNO@Q@DKSNL@SDGDQUHCN
1@Q@DK9/
SNLDDKLHRLNU@KNQCDK@KHLDMSNBQTCN DK9/MNB@LAH@BNMK@BNBBHbM
1@Q@DK@FT@G@XTM@EbQLTK@DRODBH@K&KRHRSDL@B@KBTK@@TSNL\SHB@LDMSDDKBNMSDMHCNCD@FT@CD
FCDKOK@SNBNBHM@CNA@R\MCNRDDMK@EbQLTK@HMSQNCTBHC@
$NLOQTDADPTDG@B@KBTK@CNTMU@KNQCDKNRMTSQHDMSDRO@Q@DKSNL@SDGDQUHCNRNK@LDMSDRHG@A`@
TM U@KNQ DM K@ K`MD@ CDK SNL@SD BQTCN ANQQD DK RH MN G@A`@ MHMFdM U@KNQ DM K@ K`MD@ CDK
SNL@SDBQTCNDMB@RNBNMSQ@QHNRDBQD@MU@KNQDRBDQNO@Q@KNRPTDE@KS@M
KNBT@K
BNLNX@RDG@
CHBGN
RDQ`@TMDQQNQHLONQS@MSDo1QDRSD@SDMBHbM
$NOHDBNM1&("%0&41&$*"-p7"-03 RHTR@1&("3BNOH@Q\K@REbQLTK@R
KNRU@KNQDRCD
KNRMTSQHDMSDRCDK@K`MD@DMK@K`MD@CDFCDt5NL@SDGDQUHCNuXKTDFNBNOHDSNC@K@
K`MD@DMK@GNI@CDSQ@A@INCDK@tA@RDCDC@SNRCDQDEDQDMBH@uDMK@K`MD@CDKSNL@SDGDQUHCN
D>EH78K;D7
"GNQ@UDQHEHPTDPTDG@GDBGNDKB\KBTKNBNQQDBS@LDMSDQDRONMCHDMCN@K@RRHFTHDMSDROQDFTMS@R$NOHDKNR
MdLDQNRNK@REbQLTK@RCDK*MRSQTLDMSNCDBNLOHK@BHbMDMK@QDROTDRS@BNQQDRONMCHDMSD
3DROTDRS@
+H;=KDJ7I -;IFK;IJ7I9EF?;B79?<H7EB7<VHCKB7
9EHH;IFED:?;DJ;:;B$DIJHKC;DJE:;
9ECF?B79?VD
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WIDLC8G8I8:8C:LC8I<C8>L8<EC8:8J@CC80
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CDMQD@I?J
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8I9F?@;I8KFJEFID8C@Q8;FJ;FJ;<:@D8C<J
@9I8;@<KTK@:8EFID8C@Q8;8;FJ;<:@D8C<J
0@K8D@E8EFID8C@Q8;8;FJ;<:@D8C<J
,@9F=C8M@E8KI<J;<:@D8C<J
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:8C:LC8;FJJ@J<8GC@:8I8<CDTKF;F;<CFJ PINJGJDIBM@?D@IO@TGJNA<>OJM@N?@
@E>I<;@<EK<JF;<C8I<:<K8,<JGFE;8-UF(FP M@I?DHD@IOJT?@M@O@I>D]I?@IPOMD@IO@NN@
ALJK@=@HL<C8I<JGL<JK8 <KGD><I<G<GDH@IOJLP@@N@GDIBM@?D@IO@TG<
NPH<?@GJNDIBM@?D@IO@N<GHDNHJOD@HKJ
1@Q@RTHMENQL@BHbM
4DOTDCDBNLOQNA@QRHRDG@BNLDSHCN@KFdMDQQNQDMKNRB\KBTKNR1NQDIDLOKN
RHDKE@BSNQCDQDMCHLHDMSN
DR
KNRU@KNQDRCDKNRMTSQHDMSDRCDKSNL@SDGDQUHCNCDADMRDQ@KQDCDCNQCDTMONQBHDMSNRTODQHNQDR
@ KNR CDK SNL@SD BQTCN 1@Q@ KNR MTSQHDMSDR BNM E@BSNQDR CD QDSDMBHbM CD MTSQHDMSDR K@ CHEDQDMBH@ RDQ\
LDMNQ
1@Q@B@KBTK@QONQOQHLDQ@UDYTM@QDBDS@RDOTDCDMDBDRHS@QTM@GNQ@$T@MCNSDMF@@KFNCDDWODQHDMBH@
MDBDRHS@Q\LTBGNLDMNRSHDLONTMNRLHMTSNRA@RS@Q\Mo"CDK@MSD
1$$$ 7B9KB;BEIL7BEH;I:;BEIDKJH?;DJ;I:;B7H;9;J7:;eHHEP<H?JE9EDJEC7J;fKJ?B?P7D:E
;BCRJE:EC?NJE:;B7IH;9;J7I0J?B?9;;B$DIJHKC;DJE:;9ECF?B79?VD L;HI?VD O97B9KB;BEI
L7BEH;I :; BEI DKJH?;DJ;I :; B7 H;9;J7 I?=K?;D:E B7I ?DIJHK99?ED;I GK; <?=KH7D 7 9EDJ?DK79?VD
'K;=E H;IFED:7 7 B7I FH;=KDJ7I I?=K?;DJ;I 87IQD:EI; ;D BEI 9QB9KBEI H;7B?P7:EI ;D B7 >E@7 :;
9QB9KBE:; N9;B<A:@;?<A:@;<;>/-0->1?<A1?@-/;>>1/@-
"QQNYEQHSNBNMSNL@SD
FCD@QQNYAK@MBNGDQUHCN
FCDSNL@SDRBQTCNR
FCDL@QF@QHM@
*MRSQTBBHNMDRO@Q@BNBHM@QEQ`@KNRSNL@SDRDML@QF@QHM@
@a@C@DK@QQNYGDQUHCNXEQ`@KNCTQ@MSD
TMNRLHMTSNR
1_QCHC@CD@FT@ONQBHDMSN
1@RNRKbFHBNRPTDG@XPTDC@QDMDKB\KBTKNCDK@QDBDS@
-<->@19G?59<;>@-:@1011?@1161>/5/5;1?=A1/;9<>1:0-8-?2J>9A8-?E8;?<-?;?E=A1<A10-8813->-/-8/A8->8;?B-8;>1?
018;?:A@>51:@1?01/A-8=A51>>1/1@-.-?G:0;?11:185:3>1051:@1/>A0;/;>>1?<;:051:@1
*MSQNCTBHQK@RK`MD@RBNMKNR@KHLDMSNRBQTCNRXKNRU@KNQDRCDRTRMTSQHDMSDRDMK@GNI@CDB\KBTKN
CDK@RQDBDS@R O@Q@BNOH@QKNRU@KNQDRRDTSHKHY@DK1&("%0&41&$*"-pMN1DF@Q
-NRU@KNQDR
CDKNRMTSQHDMSDRRNMONQF
*MSQNCTBHQ TM@ K`MD@ U@B`@ O@Q@ K@ QDBDS@ @ EHM CD QDFHRSQ@Q KNR U@KNQDR CD RTR MTSQHDMSDR TM@ UDY
B@KBTK@CNR
$QD@Q TM@ K`MD@ O@Q@ B@C@ HMFQDCHDMSD X @C@OS@Q DK ODRN CD B@C@ HMFQDCHDMSD CD @BTDQCN BNM RT
ODRNBNLDRSHAKDDMK@QDBDS@
&KDFHQTMRHRSDL@CDB\KBTKNCDQDBDS@R L_SNCNCDK@RQDBDS@R
CDKNRHMFQDCHDMSDRNLHWSN
&W@LHM@QK@REbQLTK@RCDKDIDLOKNCDK@QDBDS@XSQ@S@QCDBNLOQDMCDQK@
'bQLTK@DMK@B@RHKK@CDKODRNBNBHM@CNCDK@QDBDS@DRDKOQNCTBSNCDKODRNBQTCNONQDK@BSNQ
CDQDMCHLHDMSN/NDRMDBDR@QHN@C@OS@QK@EbQLTK@
-@ EbQLTK@ O@Q@ B@C@ U@KNQ CD KNR MTSQHDMSDR CD KNR HMFQDCHDMSDR RD BNMRSQTXD CD K@ LHRL@
L@MDQ@ DWBDOSNO@Q@DK9/XDK@FT@DRDKOQNCTBSNCDKU@KNQCDKNRMTSQHDMSDRCDK@KHLDMSN
BQTCNONQRTOQNONQBHbMDMK@QDBDS@
LTKSHOKHB@CNONQDKE@BSNQCDQDSDMBHbMCDKMTSQHDMSDCDK
FQTON CD @KHLDMSNR X DK L_SNCN CD BNBBHbM BNQQDRONMCHDMSD &M DRSD DIDLOKN
K@ DMDQF`@ CD
FCD@QQNYGDQUHCNRDB@KBTK@BNMK@EbQLTK@t3 &
3u&MK@EbQLTK@RD
LTKSHOKHB@
DKU@KNQCDKNRMTSQHDMSDRCD@QQNYAK@MBNBQTCNO@Q@F 3
ONQDKODRN
CDK @QQNY DM K@ QDBDS@ &
PTD RD CHUHCD ONQ O@Q@ HMCHB@Q K@ OQNONQBHbM CD @QQNY
BNBHM@CNDMK@QDBDS@%DROT_RRDLTKSHOKHB@ONQDKE@BSNQCDQDSDMBHbMCDMTSQHDMSDRCDKFQTON
CD@KHLDMSNRBDQD@KDRXOQNCTBSNRCDQHU@CNRpBNBHCNR 3
&RMDBDR@QHNTSHKHY@QDKRHFMN
(V:KBEaB7L;I
CDK@MSDCDK@&XCDO@Q@HMCHB@Q@&WBDKPTDRHDLOQDRDCHQHI@@DRS@B@RHKK@DRODB`EHB@ ODRN
CDK@QQNYDMK@QDBDS@
S@LAH_MBT@MCNRDBNOH@K@EbQLTK@O@Q@B@KBTK@QNSQNRU@KNQDRCDKNR
MTSQHDMSDRO@Q@KNRMTSQHDMSDRQDRS@MSDR
-@EbQLTK@CDK@RTL@CDKNRU@KNQDRCDKNRMTSQHDMSDRCDSNCNRKNRHMFQDCHDMSDRCDK@QDBDS@
HMCHB@K@RTL@CDKNRU@KNQDRCDKNRMTSQHDMSDRCDK@QDBDS@&IDLOKN46. 33
HMCHB@
PTDK@RTL@RDB@KBTK@@O@QSHQCDKNRU@KNQDRCDK@DMDQF`@CDKNRSQDRHMFQDCHDMSDRCDK@QDBDS@
4H RD HMBKTXD TM MdLDQN CD HMFQDCHDMSDR CHEDQDMSD
RD SHDMD PTD G@BDQ TM@ @C@OS@BHbM 1NQ
DIDLOKN
RHG@XBT@SQNHMFQDCHDMSDR
K@RTL@CDADHMBKTHQKNRBT@SQNHMFQDCHDMSDR
-@ EbQLTK@ CD KNR U@KNQDR CD KNR MTSQHDMSDR CD K@ QDBDS@ ONQ F RD BNMRSQTXD CD K@ LHRL@
L@MDQ@ DWBDOSN O@Q@ DK @FT@ X DK 9/
DR DK OQNCTBSN CD K@ RTL@ CD KNR U@KNQDR CD KNR
MTSQHDMSDRCDKNRHMFQDCHDMSDR
CHUHCHCN
ONQDKODRNCDK@QDBDS@BNBHM@C@XLTKSHOKHB@CNONQ
O@Q@ NASDMDQ U@KNQDR CD KNR MTSQHDMSDR ONQ F CD K@ QDBDS@ 1NQ DIDLOKN
t3&uRHFMHEHB@PTDK@RTL@CDKNRU@KNQDRCDDMDQF`@CDKNRHMFQDCHDMSDR 3
RD CHUHCD
ONQ DK ODRN CD K@ QDBDS@ BNBHM@C@ &
X RD LTKSHOKHB@ ONQ O@Q@ NASDMDQ
U@KNQDRCDKNRMTSQHDMSDRONQFCDK@QDBDS@&KRHFMNCDK@MSDCD&XCDDRMDBDR@QHN
O@Q@HMCHB@Q@&WBDKPTDRHDLOQDRDCHQHI@@DRS@B@RHKK@DRODB`EHB@ ODRNCDK@QDBDS@BNBHM@C@
S@LAH_M BT@MCN RD BNOH@ K@ EbQLTK@ O@Q@ B@KBTK@Q NSQNR U@KNQDR CD KNR MTSQHDMSDR O@Q@ KNR
MTSQHDMSDRQDRS@MSDR
-@EbQLTK@O@Q@DKU@KNQCDK@FT@DRDKOQNCTBSNCDKU@KNQCDK@FT@CDK@KHLDMSNBQTCNLDMNRK@
CHEDQDMBH@ DMSQD DK ODRN BQTCN X BNBHM@CN CDK @KHLDMSN
CHUHCHCN ONQ DK ODRN BNBHM@CN &K
QDRTKS@CNRDLTKSHOKHB@ONQO@Q@NASDMDQFCDODRNCDK@KHLDMSN/NRDCDAD@C@OS@QK@
EbQLTK@
-@ EbQLTK@ CD K@ B@RHKK@ CDK 9/ DR DK OQNCTBSN CDK U@KNQ CD K@R OQNSD`M@R CHUHCHCN
ONQ DK
U@KNQCDKMHSQbFDMN1NQDIDLOKNt:9uRHFMHEHB@PTDDKU@KNQCDK@ROQNSDHM@R :
RDCHUHCDONQDKU@KNQCDKMHSQbFDMN 9
/NRDCDAD@C@OS@QK@EbQLTK@
$NOH@QK@REbQLTK@RO@Q@B@KBTK@QKNRU@KNQDRCDKNRMTSQHDMSDR@O@QSHQCDKDIDLOKN O@Q@BNOH@QK@R
EbQLTK@RRDTSHKHY@1&("3pMN1DF@CNDRODBH@K
*MSQNCTBHQDKE@BSNQCDQDMCHLHDMSNBNQQDBSNCDK@QDBDS@DMK@B@RHKK@&
"C@OS@QK@EbQLTK@O@Q@B@KBTK@QKNRU@KNQDRCDKNRMTSQHDMSDRCDL@MDQ@PTDRDBNQQDRONMC@MBNM
KNR E@BSNQDR BNQQDBSNR CD QDMCHLHDMSN X CD QDSDMBHbM CD MTSQHDMSDR X K@R B@RHKK@R BNQQDBS@R PTD
BNMSHDMDMKNRU@KNQDRCDKNRMTSQHDMSDRCDKNR@KHLDMSNRBQTCNRXBNOH@QK@EbQLTK@@C@OS@C@O@Q@
SNCNRKNRU@KNQDRDWBDOSNDKXDK9/
/NRDCDAD@C@OS@QK@EbQLTK@DMK@RB@RHKK@RCDKODRNBNBHM@CNCDK@QDBDS@
@FT@X9/
&MDRSDDIDLOKN
@C@OS@QK@DMDQF`@CDFCD@QQNYAK@MBNGDQUHCN
PTDRDB@KBTK@BNMK@
EbQLTK@t3 &
3u&MK@EbQLTK@RDLTKSHOKHB@
DKU@KNQCDKNRMTSQHDMSDR
CD @QQNY AK@MBN BQTCN ONQ F 3
ONQ DK ODRN CDK @QQNY DM K@ QDBDS@ &
PTD RD
CHUHCDDMSQDO@Q@HMCHB@QK@OQNONQBHbMCD@QQNYBNBHCNDMK@QDBDS@%DROT_RRDLTKSHOKHB@
ONQ DK E@BSNQ CD QDSDMBHbM CD MTSQHDMSDR CDK FQTON CD @KHLDMSNR tBDQD@KDR X OQNCTBSNR
CDQHU@CNR p BNBHCNRu 3
&K RHFMN CDK@MSD CD & X CD DR MDBDR@QHN O@Q@ PTD &WBDK
RHDLOQDRDCHQHI@@DRS@B@RHKK@ ODRNCDK@QQNYDMK@QDBDS@
S@LAH_MBT@MCNRDBNOH@K@EbQLTK@
O@Q@B@KBTK@QNSQNRU@KNQDRCDKNRMTSQHDMSDRO@Q@KNRMTSQHDMSDRQDRS@MSDR)@F@KNLHRLNO@Q@
KNRU@KNQDRCDDMDQF`@CDKNRSNL@SDRXK@L@QF@QHM@
PTDRHDLOQDCDADMQDEDQHQRD@KNRE@BSNQDR
CDQDSDMBHbMCDKNRFQTONRCDtUDQCTQ@RpEQHS@RuXt@BDHSDRXFQ@R@RpEQHSNR
QDRODBSHU@LDMSD
"C@OS@QONQDIDLOKN46. 33
PTDHMCHB@PTDK@RTL@RDB@KBTK@CDKNRU@KNQDRCD
K@DMDQF`@CDKNRSQDRHMFQDCHDMSDRCDK@QDBDS@&MDRSDB@RN
MNRDMDBDRHS@@C@OS@QK@QDBDS@
OTDRSNPTDDRS@SHDMDSQDRHMFQDCHDMSDR/NNARS@MSD
DRMDBDR@QHNG@BDQTM@@C@OS@BHbMRHRD
HMBKTXDTMMdLDQNCDHMFQDCHDMSDRCHEDQDMSD1NQDIDLOKN
RHG@XHMFQDCHDMSDR
K@RTL@CDAD
HMBKTHQ KNR BT@SQN HMFQDCHDMSDR /N NKUHCD @C@OS@Q S@LAH_M K@ RTL@ CD KNR ODRNR CD KNR
HMFQDCHDMSDRCDK@QDBDS@ &
RHDRMDBDR@QHN
"C@OS@Q ONQ DIDLOKNs t3&u
PTD RHFMHEHB@ PTD K@ RTL@ CD KNR U@KNQDR CD
DMDQF`@ CD KNR MTSQHDMSDR 3
RD CHUHCD
ONQ DK ODRN CD K@ QDBDS@ BNBHM@C@ &
X RD
LTKSHOKHB@ONQO@Q@NASDMDQU@KNQDRCDKNRMTSQHDMSDRONQFCDK@QDBDS@&KRHFMN
CDK@MSD CD & X DR MDBDR@QHN O@Q@ PTD &WBDK RD CHQHI@ RHDLOQD @ DRS@ B@RHKK@ ODRN CD K@
QDBDS@ BNBHM@C@
S@LAH_M BT@MCN RD BNOH@ K@ EbQLTK@ O@Q@ B@KBTK@Q NSQNR U@KNQDR CD KNR
MTSQHDMSDRO@Q@KNRMTSQHDMSDRQDRS@MSDR
(V:KBEaB7L;I
&MDRSDDIDLOKN
BNOHDSNC@RK@RB@RHKK@RPTDRDG@M@C@OS@CNO@Q@K@DMDQF`@ CDK@3@K@
3
XO_FTDK@RDMK@RB@RHKK@RBNQQDRONMCHDMSDR@KNRNSQNRMTSQHDMSDR DWBDOSNK@RCDK@FT@
X
DK9/
7DQHEHB@QPTDRDG@GDBGNDKB\KBTKNBNQQDBS@LDMSDXPTDMNRDG@FDMDQ@CNMHMFdMU@KNQBDQNONQ
@BBHCDMSD RHMNDWHRSDMHMFdMU@KNQO@Q@SNCNRKNRHMFQDCHDMSDRXRDHMSQNCTBDK@EbQLTK@
&WBDK
FDMDQ@Q\TMU@KNQBDQNO@Q@K@QDBDS@
$NOH@QKNRU@KNQDRQDBH_MNASDMHCNRCDKNRMTSQHDMSDRDMK@K`MD@U@B`@MTDU@ U_@RDDKO@RN
O@Q@
K@QDBDS@ BNM1&("%0&41&$*"-
XBNOH@QCDROT_RK@K`MD@CDK@GNI@CDB\KBTKNCDK@RQDBDS@R
DM K@ GNI@ CD B\KBTKN CD K@ A@RD CD C@SNR CD QDEDQDMBH@
DM K@ PTD S@LAH_M RD CNBTLDMS@Q\M KNR
MTDUNRU@KNQDR
*MRSQTBBHNMDRDRODB`EHB@RO@Q@DKDIDQBHBHNBNMDK@QBGHUN&WBDK
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