Beruflich Dokumente
Kultur Dokumente
ACI 440R 07 Report On Fiber Reinforced Polymer FRP Reinforcement For Concrete Structures PDF
ACI 440R 07 Report On Fiber Reinforced Polymer FRP Reinforcement For Concrete Structures PDF
6ITSVXSR*MFIV6IMRJSVGIH
4SP]QIV*64
6IMRJSVGIQIRX
JSV'SRGVIXI7XVYGXYVIW
6ITSVXIHF]%'-'SQQMXXII
*MVWX4VMRXMRK
7ITXIQFIV
%QIVMGER'SRGVIXI-RWXMXYXI
%HZERGMRKGSRGVIXIORS[PIHKI
'ST]VMKLX F] XLI %QIVMGER 'SRGVIXI -RWXMXYXI *EVQMRKXSR ,MPPW 1- %PP VMKLXW VIWIVZIH 8LMW QEXIVMEP
QE]RSXFIVITVSHYGIHSVGSTMIHMR[LSPISVTEVXMRER]TVMRXIHQIGLERMGEPIPIGXVSRMGJMPQSVSXLIV
HMWXVMFYXMSRERHWXSVEKIQIHME[MXLSYXXLI[VMXXIRGSRWIRXSJ%'-
8LIXIGLRMGEPGSQQMXXIIWVIWTSRWMFPIJSV%'-GSQQMXXIIVITSVXWERHWXERHEVHWWXVMZIXSEZSMHEQFMKYMXMIW
SQMWWMSRWERHIVVSVWMRXLIWIHSGYQIRXW-RWTMXISJXLIWIIJJSVXWXLIYWIVWSJ%'-HSGYQIRXWSGGEWMSREPP]
JMRH MRJSVQEXMSR SV VIUYMVIQIRXW XLEX QE] FI WYFNIGX XS QSVI XLER SRI MRXIVTVIXEXMSR SV QE] FI
MRGSQTPIXI SV MRGSVVIGX 9WIVW [LS LEZI WYKKIWXMSRW JSV XLI MQTVSZIQIRX SJ %'- HSGYQIRXW EVI
VIUYIWXIH XS GSRXEGX %'- 4VSTIV YWI SJ XLMW HSGYQIRX MRGPYHIW TIVMSHMGEPP] GLIGOMRK JSV IVVEXE EX
[[[GSRGVIXISVKGSQQMXXIIWIVVEXEEWTJSVXLIQSWXYTXSHEXIVIZMWMSRW
%'-GSQQMXXIIHSGYQIRXWEVIMRXIRHIHJSVXLIYWISJMRHMZMHYEPW[LSEVIGSQTIXIRXXSIZEPYEXIXLI
WMKRMJMGERGIERHPMQMXEXMSRWSJMXWGSRXIRXERHVIGSQQIRHEXMSRWERH[LS[MPPEGGITXVIWTSRWMFMPMX]JSVXLI
ETTPMGEXMSRSJXLIQEXIVMEPMXGSRXEMRW-RHMZMHYEPW[LSYWIXLMWTYFPMGEXMSRMRER][E]EWWYQIEPPVMWOERH
EGGITXXSXEPVIWTSRWMFMPMX]JSVXLIETTPMGEXMSRERHYWISJXLMWMRJSVQEXMSR
%PPMRJSVQEXMSRMRXLMWTYFPMGEXMSRMWTVSZMHIHwEWMWx[MXLSYX[EVVERX]SJER]OMRHIMXLIVI\TVIWWSVMQTPMIH
MRGPYHMRKFYXRSXPMQMXIHXSXLIMQTPMIH[EVVERXMIWSJQIVGLERXEFMPMX]JMXRIWWJSVETEVXMGYPEVTYVTSWISV
RSRMRJVMRKIQIRX
%'-ERHMXWQIQFIVWHMWGPEMQPMEFMPMX]JSVHEQEKIWSJER]OMRHMRGPYHMRKER]WTIGMEPMRHMVIGXMRGMHIRXEP
SV GSRWIUYIRXMEP HEQEKIW MRGPYHMRK [MXLSYX PMQMXEXMSR PSWX VIZIRYIW SV PSWX TVSJMXW [LMGL QE] VIWYPX
JVSQXLIYWISJXLMWTYFPMGEXMSR
-XMWXLIVIWTSRWMFMPMX]SJXLIYWIVSJXLMWHSGYQIRXXSIWXEFPMWLLIEPXLERHWEJIX]TVEGXMGIWETTVSTVMEXIXS
XLIWTIGMJMGGMVGYQWXERGIWMRZSPZIH[MXLMXWYWI%'-HSIWRSXQEOIER]VITVIWIRXEXMSRW[MXLVIKEVHXS
LIEPXLERHWEJIX]MWWYIWERHXLIYWISJXLMWHSGYQIRX8LIYWIVQYWXHIXIVQMRIXLIETTPMGEFMPMX]SJEPP
VIKYPEXSV]PMQMXEXMSRWFIJSVIETTP]MRKXLIHSGYQIRXERHQYWXGSQTP][MXLEPPETTPMGEFPIPE[WERHVIKYPEXMSRW
MRGPYHMRKFYXRSXPMQMXIHXS9RMXIH7XEXIW3GGYTEXMSREP7EJIX]ERH,IEPXL%HQMRMWXVEXMSR37,%
LIEPXL
ERHWEJIX]WXERHEVHW
3VHIVMRJSVQEXMSR%'-HSGYQIRXWEVIEZEMPEFPIMRTVMRXF]HS[RPSEHSR'(631XLVSYKLIPIGXVSRMG
WYFWGVMTXMSRSVVITVMRXERHQE]FISFXEMRIHF]GSRXEGXMRK%'-
1SWX%'-WXERHEVHWERHGSQQMXXIIVITSVXWEVIKEXLIVIHXSKIXLIVMRXLIERRYEPP]VIZMWIH%'-1ERYEPSJ
'SRGVIXI4VEGXMGI1'4
%QIVMGER'SRGVIXI-RWXMXYXI
'SYRXV]'PYF(VMZI
*EVQMRKXSR,MPPW1-
97%
4LSRI
*E\
[[[GSRGVIXISVK
-7&2
%'-6
6ITSVXSR*MFIV6IMRJSVGIH4SP]QIV*64
6IMRJSVGIQIRXJSV'SRGVIXI7XVYGXYVIW
6ITSVXIHF]%'-'SQQMXXII
.SLR4&YWIP 'EVSP/7LMIPH
'LEMV 7IGVIXEV]
7YFGSQQMXXIGSGLEMVWVIWTSRWMFPIJSVTVITEVMRKXLIVITSVX
7IZIVEPZSXMRKQIQFIVWSJXLIGSQQMXXIIGSRXVMFYXIHGLETXIVWSVQEHISXLIVWYFWXERXMEPGSRXVMFYXMSRWXSXLIVITSVX-REHHMXMSRXLIGSQQMXXII[SYPHPMOIXSEGORS[PIHKI
XLIGSRXVMFYXMSRSJEWWSGMEXIQIQFIVW8-ZER'EQTFIPPERH0YOI%&MWF]
%TTPMGEXMSRW SJ JMFIVVIMRJSVGIH TSP]QIV *64
GSQTSWMXIW EW VIMRJSVGIQIRX ERH ETTPMGEXMSR TYVTSWIW %'- 'SQQMXXII MW EPWS MR XLI TVSGIWW SJ
JSV GSRGVIXI WXVYGXYVIW LEZI FIIR KVS[MRK VETMHP] MR VIGIRX ]IEVW %'- HIZIPSTMRKRI[KYMHIWERHXLYWXLIGYVVIRXEZEMPEFMPMX]SJKYMHIWWLSYPHFI
'SQQMXXIILEWTYFPMWLIHHIWMKRKYMHIPMRIWJSVMRXIVREP*64VIMRJSVGI GLIGOIHF]XLIVIEHIV-REHHMXMSRXSXLIQEXIVMEPTVSTIVXMIWSJXLIGSRWXMXYIRX
QIRXI\XIVREPP]FSRHIH*64VIMRJSVGIQIRXJSVWXVIRKXLIRMRKTVIWXVIWWIH QEXIVMEPW XLEX MW VIWMRW ERH JMFIVW
ERH TVSHYGXW GYVVIRX ORS[PIHKI SJ
*64 VIMRJSVGIQIRX ERH XIWX QIXLSHW JSV *64 TVSHYGXW %PXLSYKL XLIWI *64 ETTPMGEXMSRW WYGL EW MRXIVREP VIMRJSVGIQIRX MRGPYHMRK TVIWXVIWWMRK
KYMHIPMRIWI\MWXRI[TVSHYGXWERHETTPMGEXMSRWGSRXMRYIXSFIHIZIPSTIH I\XIVREPWXVIRKXLIRMRKSJGSRGVIXIERHQEWSRV]WXVYGXYVIWERHWXVYGXYVEP
8LYWXLMWVITSVXWYQQEVM^IWXLIGYVVIRXWXEXISJORS[PIHKISRXLIWIQEXIVMEPW W]WXIQW MW HMWGYWWIH MR HIXEMP 8LI HSGYQIRX EPWS EHHVIWWIW HYVEFMPMX]
ERHXLIMVETTPMGEXMSRXSGSRGVIXIERHQEWSRV]WXVYGXYVIW8LITYVTSWISJ MWWYIWERHXLIIJJIGXWSJI\XVIQIIZIRXWWYGLEWJMVIERHFPEWX%WYQQEV]
XLMWVITSVXMWXSEGXEWERMRXVSHYGXMSRXS*64QEXIVMEPWMREVIEW[LIVI%'- SJWSQII\EQTPIWSJJMIPHETTPMGEXMSRWMWTVIWIRXIH
KYMHIWI\MWXERHXSTVSZMHIMRJSVQEXMSRSRXLITVSTIVXMIWERHFILEZMSVSJ
GSRGVIXIWXVYGXYVIWGSRXEMRMRK*64MREVIEW[LIVIKYMHIWEVIRSXGYVVIRXP] /I][SVHW EVEQMH JMFIVW FPEWX FVMHKIW FYMPHMRKW GEVFSR JMFIVW
EZEMPEFPI-JER%'-KYMHIMWEZEMPEFPIXLIKYMHIHSGYQIRXWYTIVWIHIWMRJSV GSQTSWMXI QEXIVMEPW GSVVSWMSR HIWMKR HS[IPW HYGXMPMX] HYVEFMPMX]
QEXMSRMRXLMWVITSVXERHXLIKYMHIWLSYPHEP[E]WFIJSPPS[IHJSVHIWMKR I\XIVREP VIMRJSVGIQIRX JEXMKYI JMFIVVIMRJSVGIH TSP]QIV *64
JMFIVW
JMVI KPEWW JMFIV QEWSRV] QIGLERMGEP TVSTIVXMIW TSP]QIV VIWMR
TVIWXVIWWIHGSRGVIXIWIMWQMGWXE]MRTPEGIJSVQWWXVYGXYVEPW]WXIQWXIWX
%'- 'SQQMXXII 6ITSVXW +YMHIW 7XERHEVH 4VEGXMGIW ERH QIXLSHW
'SQQIRXEVMIW EVI MRXIRHIH JSV KYMHERGI MR TPERRMRK
HIWMKRMRK I\IGYXMRK ERH MRWTIGXMRK GSRWXVYGXMSR 8LMW
HSGYQIRX MW MRXIRHIH JSV XLI YWI SJ MRHMZMHYEPW [LS EVI '328)287
GSQTIXIRX XS IZEPYEXI XLI WMKRMJMGERGI ERH PMQMXEXMSRW SJ MXW 'LETXIV{-RXVSHYGXMSRERHWGSTIT6
GSRXIRX ERH VIGSQQIRHEXMSRW ERH [LS [MPP EGGITX {-RXVSHYGXMSR
VIWTSRWMFMPMX] JSV XLI ETTPMGEXMSR SJ XLI QEXIVMEP MX GSRXEMRW {,MWXSVMGEPTIVWTIGXMZISJ*64GSQTSWMXIW
8LI %QIVMGER 'SRGVIXI -RWXMXYXI HMWGPEMQW ER] ERH EPP
VIWTSRWMFMPMX]JSVXLIWXEXIHTVMRGMTPIW8LI-RWXMXYXIWLEPPRSX
FIPMEFPIJSVER]PSWWSVHEQEKIEVMWMRKXLIVIJVSQ
6IJIVIRGI XS XLMW HSGYQIRX WLEPP RSX FI QEHI MR GSRXVEGX %'-6WYTIVWIHIW%'-6ERH[EWEHSTXIHERHTYFPMWLIH7ITXIQFIV
HSGYQIRXW-JMXIQWJSYRHMRXLMWHSGYQIRXEVIHIWMVIHF]XLI 'ST]VMKLX%QIVMGER'SRGVIXI-RWXMXYXI
%PPVMKLXWVIWIVZIHMRGPYHMRKVMKLXWSJVITVSHYGXMSRERHYWIMRER]JSVQSVF]ER]
%VGLMXIGX)RKMRIIVXSFIETEVXSJXLIGSRXVEGXHSGYQIRXWXLI] QIERW MRGPYHMRK XLI QEOMRK SJ GSTMIW F] ER] TLSXS TVSGIWW SV F] IPIGXVSRMG SV
WLEPPFIVIWXEXIHMRQERHEXSV]PERKYEKIJSVMRGSVTSVEXMSRF] QIGLERMGEPHIZMGITVMRXIH[VMXXIRSVSVEPSVVIGSVHMRKJSVWSYRHSVZMWYEPVITVSHYGXMSR
XLI%VGLMXIGX)RKMRIIV SVJSVYWIMRER]ORS[PIHKISVVIXVMIZEPW]WXIQSVHIZMGIYRPIWWTIVQMWWMSRMR[VMXMRK
MWSFXEMRIHJVSQXLIGST]VMKLXTVSTVMIXSVW
6
6 %'-'311-88))6)4368
'LETXIV{'SHIWERHWXERHEVHWT6 'LETXIV{7XVYGXYVEPP]MRXIKVEXIHWXE]MRTPEGI
{1EXIVMEPW *64JSVQWTT6
{-RXIVREP*64VIMRJSVGIQIRX {-RXVSHYGXMSR
{)\XIVREP*64VIMRJSVGIQIRX {%HZERXEKIWERHPMQMXEXMSRWSJW]WXIQ
{7XVYGXYVEPGSQTSWMXMSRSJ*64JSVQW
'LETXIV{'SQTSWMXIQEXIVMEPWERHTVSGIWWIW {*EFVMGEXMSRTVSGIWWIWSJ*64WXVYGXYVEPJSVQW
T6 {'SRGVIXIGSQTSRIRX
{-RXVSHYGXMSR {'SRWXVYGXMSRGSRWMHIVEXMSRW
{4SP]QIVQEXVM\VIWMRW {&ILEZMSVSJE\MEPQIQFIVW
{6IMRJSVGMRKJMFIVW {&ILEZMSVSJJPI\YVEPERHE\MEPJPI\YVEPQIQFIVW
{8]TIWSJVIMRJSVGIQIRX
{%HHMXMZIWERHJMPPIVW 'LETXIV{1EWSRV]ETTPMGEXMSRWT6
{'SVIQEXIVMEPWJSVWERH[MGLWXVYGXYVIW {-RXVSHYGXMSR
{%HLIWMZIW {*64WXVIRKXLIRMRKXIGLRMUYIW
{*64QERYJEGXYVMRKTVSGIWWIW {*64VITEMVERHWXVIRKXLIRMRKSJQEWSRV]
{(IWMKRERHETTPMGEXMSRGSRWMHIVEXMSRW
'LETXIV{4VSTIVXMIWXIWXQIXLSHW
ERHRSRHIWXVYGXMZIIZEPYEXMSRT6 'LETXIV{(YVEFMPMX]SJ*64YWIHMRGSRGVIXI
{-RXVSHYGXMSR T6
{8]TMGEPTVSTIVXMIWSJGYVVIRXP]EZEMPEFPITVSHYGXW {(IJMRMXMSRSJHYVEFMPMX]
{8IWXQIXLSHWJSVQIGLERMGEPTVSTIVXMIW {(YVEFMPMX]SJ*64GSQTSWMXIW
{(YVEFMPMX]XIWXMRKQIXLSHW {-RXIVREPVIMRJSVGIQIRX
{2SRHIWXVYGXMZIMRWTIGXMSRXIGLRMUYIWJSV*64QEXIVMEPW {)\XIVREPVIMRJSVGIQIRX
{7XVYGXYVEPP]MRXIKVEXIHWXE]MRTPEGI7-4
JSVQW
'LETXIV{4IVJSVQERGISJGSRGVIXIQIQFIVW
[MXLMRXIVREP*64VIMRJSVGIQIRXT6 'LETXIV{*MVIERHFPEWXIJJIGXWT6
{7XVIRKXL {-RXVSHYGXMSR
{7IVZMGIEFMPMX] {*MVI
{&SRHERHHIZIPSTQIRXSJVIMRJSVGIQIRX {&PEWXIJJIGXW
{*EXMKYITIVJSVQERGI
{1IQFIVWVIMRJSVGIH[MXL*64KVEXMRKW]WXIQW 'LETXIV{*MIPHETTPMGEXMSRWT6
{1IQFIVWVIMRJSVGIH[MXL*64KVMHW {*64EWMRXIVREPVIMRJSVGIQIRX
{4EZIQIRXETTPMGEXMSRW {4VIWXVIWWMRKETTPMGEXMSRW
{)\XIVREPVIMRJSVGIQIRX
'LETXIV{4VIWXVIWWIHGSRGVIXIQIQFIVW {1EWSRV]ETTPMGEXMSRW
T6 {7XE]MRTPEGI*64JSVQW
{*64XIRHSRW
{%RGLSVEKIW 'LETXIV{6IWIEVGLRIIHWT6
{*PI\YVEPFILEZMSV {-RXVSHYGXMSR
{*EXMKYIFILEZMSV {/I]VIWIEVGLRIIHW
{8MQIHITIRHIRXFILEZMSV {'SRGPYWMSRW
{(YGXMPMX]ERHHIJSVQEFMPMX]
{8VERWJIVERHHIZIPSTQIRXPIRKXL 'LETXIV{6IJIVIRGIWT6
{7LIEVFILEZMSV {6IJIVIRGIHWXERHEVHWERHVITSVXW
{)\XIVREPXIRHSRW {'MXIHVIJIVIRGIW
{4VIWXVIWWIHTSPIW
',%48)6{-2863(9'8-32%2(7'34)
'LETXIV{6ITEMVWXVIRKXLIRMRKERHVIXVSJMXXMRK {-RXVSHYGXMSR
T6 8LITYVTSWISJXLMWVITSVXMWXSTVIWIRXXLIGYVVIRXWXEXISJ
{*PI\YVEPWXVIRKXLIRMRK[MXLRSRTVIWXVIWWIH*64 ORS[PIHKI [MXL VIKEVH XS ETTPMGEXMSRW SJ JMFIVVIMRJSVGIH
{*PI\YVEPWXVIRKXLIRMRK[MXLTVIWXVIWWIH*64 TSP]QIV*64
QEXIVMEPWMRGSRGVIXI8LMWVITSVXWYQQEVM^IW
{7LIEVWXVIRKXLIRMRK XLIJYRHEQIRXEPFILEZMSVXLIQSWXGYVVIRXVIWIEVGLHIWMKR
{%\MEPWXVIRKXLIRMRKSJGSPYQRW GSHIW ERH TVEGXMGEP ETTPMGEXMSRW SJ GSRGVIXI ERH QEWSRV]
{7IMWQMGWXVIRKXLIRMRKERHVIXVSJMXXMRK WXVYGXYVIW GSRXEMRMRK *64 8LMW HSGYQIRX MW MRXIRHIH XS
{1IGLERMGEPP] JEWXIRIH JMFIVVIMRJSVGIH TSP]QIV GSQTPIQIRX SXLIV VITSVXW JSV I\EQTPI WXERHEVHW ERH
1**64
PEQMREXIW HIWMKRKYMHIPMRIW
TVSHYGIHF]%'-'SQQMXXIIIMXLIV
*-&)66)-2*36')(430=1)66)-2*36')1)28*36'32'6)8)7869'896)7 6
F]WYQQEVM^MRKXLIVIWIEVGLXLEXWYTTSVXWXLSWIHSGYQIRXW 8LI HIGEHIW EJXIV XLI W FVSYKLX RI[ ERH SJXIR
SVF]TVSZMHMRKMRJSVQEXMSRSRJYXYVIHIZIPSTQIRXWSJXLSWI VIZSPYXMSREV] ETTPMGEXMSRW JSV *64 GSQTSWMXIW %'1%
HSGYQIRXW-JER%'-KYMHIMWEZEMPEFPIXLIKYMHIHSGYQIRX 1(%
8LIWEQIXIGLRSPSK]XLEXTVSHYGIHXLIVIMRJSVGIH
WYTIVWIHIWMRJSVQEXMSRMRXLMWVITSVXERHXLIKYMHIWLSYPH TPEWXMGLSSTWVIUYMVIHJSVXLI1ERLEXXERRYGPIEVTVSNIGXMR
EP[E]WFIJSPPS[IHJSVHIWMKRERHETTPMGEXMSRTYVTSWIW%'- ;SVPH;EV--WTE[RIHXLIHIZIPSTQIRXSJLMKLTIVJSVQERGI
'SQQMXXII MW EPWS MR XLI TVSGIWW SJ HIZIPSTMRK RI[ GSQTSWMXIQEXIVMEPWJSVWSPMHVSGOIXQSXSVGEWIWERHXEROWMR
KYMHIW XLYW XLI GYVVIRX EZEMPEFMPMX] SJ KYMHIW WLSYPH FI XLIWERHW-RJEGXJMFIVKPEWW[EPPXEROW[IVIYWIH
GLIGOIHF]XLIVIEHIV SRXLI7O]PEFSVFMXMRKPEFSVEXSV]XSTVSZMHIS\]KIRJSVXLI
*64 QEXIVMEPW EVI GSQTSWMXI QEXIVMEPW XLEX X]TMGEPP] EWXVSREYXW -R XLI JMVWX 'LIZVSPIX 'SVZIXXI [MXL JMFIV
GSRWMWX SJ WXVSRK JMFIVW IQFIHHIH MR E VIWMR QEXVM\ 8LI KPEWWFSH]TERIPWVSPPIHSJJXLIEWWIQFP]PMRI%'1%1(%
JMFIVW TVSZMHI WXVIRKXL ERH WXMJJRIWW XS XLI GSQTSWMXI ERH
2S[ LMKLTIVJSVQERGI VEGI GEVW EVI XLI TVSZMRK
KIRIVEPP]GEVV]QSWXSJXLIETTPMIHPSEHW8LIQEXVM\EGXWXS KVSYRHJSVXIGLRSPSK]XVERWJIVXSTEWWIRKIVZILMGPIW-RXLI
FSRH ERH TVSXIGX XLI JMFIVW ERH XS TVSZMHI JSV XVERWJIV SJ W XLI &VMXMWL ERH 97 2EZMIW [IVI WMQYPXERISYWP]
WXVIWW JVSQ JMFIV XS JMFIV XLVSYKL WLIEV WXVIWWIW8LI QSWX HIZIPSTMRK *64FEWIH QMRIW[IITIV WLMTW FIGEYWI *64
GSQQSRJMFIVWEVIKPEWWGEVFSRERHEVEQMH1EXVM\IWEVI GSQTSWMXIW EVI RSX SRP] WYTIVMSV XS SXLIV QEXIVMEPW MR
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[EWEPWSRSXMGIHEXXLEXXMQIXLEXSRISJXLIJIEXYVIWSJ*64
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;LMPIXLIGSRGITXSJGSQTSWMXIWLEWFIIRMRI\MWXIRGIJSV
GSQTSWMXIQEXIVMEPWLEZIFIIRHIQSRWXVEXIHMREHZERGIH
WIZIVEPQMPPIRRMEJSVI\EQTPIFVMGOWQEHIJVSQQYHERH
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WXVE[
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%'1%1(%
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*64 GSQTSWMXI MRWXEPPEXMSRW GSQIW JVSQ XLI EIVSWTEGI
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XIGLRSPSKMIW VIWIEVGLIVW GVIEXIH QEXIVMEPW [MXL TVSTIVXMIW
*64 GSQTSWMXIW LEZI FIIR YWIH EW E GSRWXVYGXMSR
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QEXIVMEPJSVWIZIVEPHIGEHIW*64GSQTSWMXITVSHYGXW[IVI
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-RXLIWEVIWYVKIRGI
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MR E JSEQ QSPH %'1% 1(%
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IRXMVI MRHYWXVMIW MRGPYHMRK EIVSWTEGI QEVMRI IPIGXVMGEP SVMREVIEWXLEX[IVIWYFNIGXIHXSWIZIVIGLIQMGEPEXXEGO
GSVVSWMSRVIWMWXERGIERHXVERWTSVXEXMSR 'SQTSWMXIW LEZI IZSPZIH WMRGI XLI W WXEVXMRK [MXL
*64GSQTSWMXIQEXIVMEPWHEXIFEGOXSXLIIEVP]WMR XIQTSVEV] WXVYGXYVIW ERH GSRXMRYMRK [MXL VIWXSVEXMSR SJ
XLI HIJIRWIMRHYWXV] TEVXMGYPEVP] JSV YWI MR EIVSWTEGI ERH LMWXSVMGFYMPHMRKWERHWXVYGXYVEPETTPMGEXMSRW8]TMGEPTVSHYGXW
REZEPETTPMGEXMSRW8LI97%MV*SVGIERH2EZ]GETMXEPM^IH HIZIPSTIH [IVI HSQIW WLVSYHW XVERWPYGIRX WLIIX TERIPW
SR*64GSQTSWMXIWvLMKLWXVIRKXL[IMKLXVEXMSERHMRLIVIRX ERHI\XIVMSVFYMPHMRKTERIPW%QENSVHIZIPSTQIRXSJ*64
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HMVIGXP]FYXVEXLIVVIJIVIRGIW'7%7MRWXIEH'7%7 GSRGVIXI XLEX MRGPYHIW TVSZMWMSRW JSV XLI HIWMKR ERH
VIUYMVIWXLIHIWMKRIVXSGSRWMHIVJMVIVIWMWXERGIFYXSJJIVWRS GSRWXVYGXMSR SJ GSRGVIXI VIMRJSVGIH [MXL*64 FEVW 8LI
TVSZMWMSRW SV KYMHERGI MR XLMW VIKEVH '7% 7 EPWS )K]TXMERHSGYQIRXYWIWXLIPMQMXWXEXIWHIWMKRETTVSEGL
TVSZMHIWTVSZMWMSRWJSVTVIWXVIWWMRKGSRGVIXIQIQFIVW[MXL JSV *64VIMRJSVGIH GSRGVIXI QIQFIVW XLEX MW GSRWMWXIRX
EVEQMHSVGEVFSRFEVW [MXL XLI JSVQEPM^IH )K]TXMER w'SHI JSV XLI (IWMKR ERH
8LI'7%7EPWSMRGPYHIWJSVQEPM^IHTVSZMWMSRWJSVXLI 'SRWXVYGXMSR SJ 'SRGVIXI 7XVYGXYVIWx
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ETTPMGEXMSR SJ *64 VIMRJSVGIQIRX SV TVIWXVIWWMRK 1EXIVMEP ETTVSEGL E QIQFIV MWHIWMKRIH FEWIH SR MXW VIUYMVIH
VIWMWXERGI JEGXSVW ERH WXVIWW PMQMXW EWWSGMEXIH [MXL WIVZMGI WXVIRKXL ERH GLIGOIH JSV JEXMKYI ERH GVIIT VYTXYVI
EFMPMX] TVIXIRWMSRMRK ERH TSWXXIRWMSRMRK EVI TVSZMHIH IRHYVERGI ERH WIVZMGIEFMPMX] GVMXIVME 8LI )K]TXMER *64
(YVEFMPMX]MWEHHVIWWIHXLVSYKLQEXIVMEPVIWMWXERGIJEGXSVWJSV GSHI TVIWGVMFIWEQEXIVMEPVIWMWXERGIJEGXSVWETTVSEGLVIPEXIH
*64X]TIERHETTPMGEXMSRERHXLIIJJIGXWSJGVIITERHJEXMKYI XSXLIHYGXMPMX]SJXLIJEMPYVIQSHIGSRWMHIVIHMREHHMXMSRXSEPP
EVIEWWYQIHXSFIMRGPYHIHMRXLIJEGXSVWERHPMQMXWTVSZMHIH HYVEFMPMX]VIPEXIHGVMXIVME[MXLXLII\GITXMSRSJJMVIVIWMWXERGI
8LI -7-7 (IWMKR 1ERYEP {6IMRJSVGMRK 'SRGVIXI -R 2SVXL %QIVMGE X[S ETTVSEGLIW JSV IZEPYEXMRK XLI
7XVYGXYVIW [MXL *MFVI 6IMRJSVGIH 4SP]QIVW 6M^OEPPE ERH VIWMWXERGI SJQIQFIVWEVI YWIH -RXLI %'- ETTVSEGLXLI
1YJXM
XEOIWERETTVSEGLZIV]WMQMPEVXS%'-6 MR WXVIRKXLVIHYGXMSR JEGXSV HITIRHW SR XLI EGXMSR FIMRK
TIVQMXXMRKFSXL*64VYTXYVIERHGSRGVIXIGVYWLMRKJEMPYVIW VIWMWXIH JSV I\EQTPI XLI VIHYGXMSR JEGXSV MW HMJJIVIRX JSV
(IWMKR 1ERYEP TVSZMHIW QEXIVMEPVIWMWXERGI JEGXSVW JPI\YVIWLIEVERHE\MEPPSEHW
8LIWXVIRKXLVIHYGXMSRJEGXSV
XLSYKL MX HSIW RSX HMJJIVIRXMEXI FIX[IIR I\TIGXIH JEMPYVI PIWWXLER
MWETTPMIHXSXLIXSXEPRSQMREPVIWMWXERGI ERH
QSHIW (IWMKR1ERYEPHMWGYWWIWHYVEFMPMX]FYXHSIWRSX HITIRHWSRXLIQSHISJJEMPYVI3RXLISXLIVLERH'EREHMER
TVSZMHI EHHMXMSREP JEGXSVW XS EGGSYRX JSV IRZMVSRQIRXEP GSHIWEVIFEWIHSREYRMJMIHPMQMXWXEXIHIWMKRTLMPSWSTL]MR
I\TSWYVI 'VIIT ERH JEXMKYI EVI EHHVIWWIH MR XLI WEQI [LMGLQEXIVMEPVIWMWXERGIJEGXSVWEP[E]WPIWWXLEREVI
QERRIVEWMR '7%7*MREPP] (IWMKR1ERYEPTVSZMHIW YWIH XS VIJPIGX YRGIVXEMRXMIW MR HIXIVQMRMRK XLI RSQMREP
PMWXMRKWSJTVSHYGXWTIGMJMGQEXIVMEPTVSTIVXMIW VIWMWXERGIWXVYGXYVEPGSQTSRIRXW-R'7%7XLIQEXIVMEP
-R )YVSTI XLI *IHIVEXMSR -RXIVREXMSREPI HI &IXSR JMF
VIWMWXERGIJEGXSVJSVIEGL*64X]TIGLERKIW[MXLETTPMGEXMSR
8EWO+VSYT*646IMRJSVGIQIRXJSV'SRGVIXI7XVYGXYVIWMW ERH[EWEVVMZIHEXF]GSRWMHIVMRKFSXLQEXIVMEPZEVMEFMPMX]
TVITEVMRKEXIGLRMGEPFYPPIXMREHHVIWWMRKXLIYWISJMRXIVREP ERHIRZMVSRQIRXEPJEGXSVWJSVXLSWIWTIGMJMGETTPMGEXMSRW
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]IXEZEMPEFPIFYXWIZIVEP)YVSTIERGSYRXVMIWLEZIHIZIPSTIH {)\XIVREP*64VIMRJSVGIQIRX
XLIMVS[RKYMHIPMRIWJSVWYGLETTPMGEXMSRW 6IGSQQIRHIH HIWMKR QIXLSHSPSKMIW SJ I\XIVREPP]
-R+VIEX&VMXEMRXLI -RXIVMQ+YMHERGISRXLI(IWMKRSJ FSRHIH *64 WXVIRKXLIRMRK WGLIQIW EVI YRMZIVWEPP]
6IMRJSVGIH 'SRGVIXI 7XVYGXYVIW YWMRK *MFVI 'SQTSWMXI GSRWMWXIRX [MXL GSRGVIXI HIWMKR QIXLSHSPSKMIW 'YVVIRXP]
6IMRJSVGIQIRX-7XVYGX)
XEOIWXLIJSVQSJWYKKIWXIH XLI XLVIIJSVQEPM^IH HSGYQIRXW EHHVIWWMRK ETTPMGEXMSRW SJ
GLERKIWXSXLI&VMXMWLHIWMKRGSHIW&7 w7XVYGXYVEP9WI I\XIVREPP] FSRHIH *64 EVI '7% 7 '7% 7 ERH XLI
SJ 'SRGVIXI 4EVXW ERH x &VMXMWL 7XERHEVHW -RWXMXYXMSR )K]TXMER*64GSHI)K]TXMER1MRMWXV]SJ,SYWMRK9XMPMXMIW
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8LI ETTVSEGL EVIKYMHIW8LIETTVSEGLIWXEOIRMRIEGLGEWIEVIGSRWMWXIRX
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7MQMPEV XS MRXIVREP *64
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SVKERMG TIVS\MHIW YWIH [MXL TSP]IWXIV VIWMRW :MR]PIWXIVW YPXVELMKL QSPIGYPEV [IMKLX TSP]IXL]PIRI TSP]TVST]PIRI
SJJIV QIGLERMGEP XSYKLRIWW ERH I\GIPPIRX GSVVSWMSR VIWMW TSP]IWXIVERHR]PSR
XERGI 8LIWI IRLERGIH TVSTIVXMIW EVI SFXEMRIH [MXLSYX 8LI QSWX GSQQSR JSVQ SJ *64W YWIH MR WXVYGXYVEP
GSQTPI\TVSGIWWMRKLERHPMRKSVWTIGMEPWLSTJEFVMGEXMRK ETTPMGEXMSRW MW GEPPIH E PEQMREXI 0EQMREXIW EVI QEHI F]
TVEGXMGIWXLEXEVIX]TMGEP[MXLITS\]VIWMRW WXEGOMRK E RYQFIV SJ XLMR PE]IVW PEQMRE
SJ JMFIVW ERH
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FEWIHSRTLIRSPGEVFSPMGEGMH
ERHJSVQEPHIL]HIERHGYVI *MFIV SVMIRXEXMSR MR IEGL PE]IV EW [IPP EW XLI WXEGOMRK
XLVSYKLEGSRHIRWEXMSRVIEGXMSRTVSHYGMRK[EXIVXLEXWLSYPH WIUYIRGISJXLIZEVMSYWPE]IVWGERFIGSRXVSPPIHXSKIRIVEXI
FI VIQSZIH HYVMRK TVSGIWWMRK 4LIRSPMG GSQTSWMXIW LEZI EVERKISJTL]WMGEPERHQIGLERMGEPTVSTIVXMIW
QER] HIWMVEFPI TIVJSVQERGI UYEPMXMIW MRGPYHMRK LMKL %YRMHMVIGXMSREPSVSRIHMQIRWMSREPJMFIVEVVERKIQIRXMW
XIQTIVEXYVI VIWMWXERGI GVIIT VIWMWXERGI I\GIPPIRX XLIVQEP XVERWZIVWIP] MWSXVSTMG 8LMW JMFIV SVMIRXEXMSR VIWYPXW MR E
MRWYPEXMSRERHWSYRHHEQTMRKTVSTIVXMIWGSVVSWMSRVIWMWXERGI QE\MQYQWXVIRKXLERHQSHYPYWMRXLIHMVIGXMSRSJXLIJMFIV
ERHI\GIPPIRXJMVIWQSOIWQSOIXS\MGMX]TVSTIVXMIW4LIRSPMGW E\MW%TPEREVEVVERKIQIRXSJJMFIVWMWX[SHMQIRWMSREPERH
EVI ETTPMIH EW EHLIWMZIW SV QEXVM\ FMRHIVW MR IRKMRIIVIH LEW HMJJIVIRX WXVIRKXLW EX EPP ERKPIW SJ JMFIV SVMIRXEXMSR
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FSEVHW4LIRSPMGGSQTSWMXIWEVIRSXGYVVIRXP][MHIP]EZEMPEFPI VIHYGIH WXVIRKXLW SZIV XLI SRIHMQIRWMSREP EVVERKIQIRX
JSVXLIGSRWXVYGXMSRMRHYWXV] 1IGLERMGEPTVSTIVXMIWMRER]SRIHMVIGXMSREVITVSTSVXMSREP
7XVYGXYVEP IRKMRIIVIH TSP]ZMR]P GLPSVMHI 4:'
XSXLIEQSYRXSJJMFIVF]ZSPYQISVMIRXIHMRXLEXHMVIGXMSR
TPEWXMWSP{7XVYGXYVEPIRKMRIIVIH4:'TPEWXMWSPVIWMRWEVIF] 1SWX VIMRJSVGIQIRX JSV IMXLIV XLIVQSWIXXMRK SV XLIVQS
HIJMRMXMSR XLIVQSTPEWXMG VIWMRW [MXL QER] TIVJSVQERGI TPEWXMGVIWMRWVIGIMZIWWSQIJSVQSJWYVJEGIXVIEXQIRXIMXLIV
GLEVEGXIVMWXMGW SJ XLIVQSWIXW FYX [MXL QER] QSVI HYVMRKJMFIVQERYJEGXYVISVEWEWYFWIUYIRXXVIEXQIRX3XLIV
TVSGIWWMRKJVMIRHP] EXXVMFYXIW XLER XVEHMXMSREP XLIVQSWIX QEXIVMEPW ETTPMIH XS JMFIVW EW XLI] EVI TVSHYGIH MRGPYHI
VIWMRW8LMWRI[VIWMRMWEWMRKPIGSQTSRIRXQEXIVMEP[MXLRS VIWMRSYWFMRHIVWXSLSPHJMFIVWXSKIXLIVMRFYRHPIWERHPYFVMGERXW
ZSPEXMPIW 8LMW VIWMR LEW XLI TSXIRXMEP SJ MQTEGXMRK *64 XSTVSXIGXJMFIVWJVSQHIKVEHEXMSRGEYWIHF]TVSGIWWEFVEWMSR
GSQTSWMXIW TVSHYGXW LS[IZIV XS HEXI RS TVSHYGXW LEZI
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XLMWQEXIVMEPMXMWWYFNIGXIHXSXIQTIVEXYVIWFIX[IIR
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JSVQSJGSQTSWMXIVIMRJSVGIQIRXERHSXLIVJSVQYPEXMSRWJSV
WIZIVEPQMRYXIWHITIRHMRKSRXLIXLMGORIWWSJXLITEVXERH
LMKLWXVIRKXL7KPEWW
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KPEWW
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GEVFSRJMFIVWMWIJJIGXMZI[MXLGLIQMGEPFSRHMRKSGGYVVMRK
FIX[IIRXLIWMPERIWTVIWIRXMRXLIWM^MRKWERHXLIJYPP]JYWIH &EWIHSREREPYQMREPMQIFSVSWMPMGEXIGSQTSWMXMSR)KPEWW
4:'TPEWXMWSP JMFIVW EVI GSRWMHIVIH XLI TVIHSQMRERX VIMRJSVGIQIRX JSV
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MRWYPEXMRK TVSTIVXMIW PS[ WYWGITXMFMPMX] XS QSMWXYVI ERH
IJJMGMIRX MR LERHPMRK PMUYMH VIWMRW ERH QMRMQM^MRK [EWXI
LMKLQIGLERMGEPTVSTIVXMIW
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SVZSPEXMPIW%HHMXMZITEGOEKIWSJJIVEHHMXMSREPFIRIJMXWSJ VERKIMRHMEQIXIVJVSQXSQMGVSRW*MFIVWEVIHVE[REX
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XLIVIMWZMVXYEPP]RSQMGVSZSMHMRKMRXLIJMRMWLIHTEVX[LMGL 8LIWIFYWLMRKWJSVQXLIMRHMZMHYEPJMPEQIRXW8LIJMPEQIRXW
IRWYVIW QYGL FIXXIV IPIGXVMGEP TVSTIVXMIW ERH WMKRMJMGERXP] EVIKEXLIVIHMRXSKVSYTWSVFYRHPIWGEPPIHWXVERHWSVXS[W
PS[IV [EXIV EFWSVTXMSR GSQTEVIH [MXL XVEHMXMSREP XLIVQS 8LIJMPEQIRXWEVI[EXIVERHEMVGSSPIHERHXLIRGSEXIH[MXL
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ETVSTVMIXEV]GLIQMGEPFMRHIVSVWM^MRKXSTVSXIGXXLIJMPEQIRXW
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8LI TVMQEV] JYRGXMSR SJ JMFIVW SV VIMRJSVGIQIRXW MW XS JMFIVERHXLIGSRHMXMSRWEXXLIJMFIVQEXVM\MRXIVJEGIMRXLI
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FISVMIRXIHXSTVSZMHIXEMPSVIHTVSTIVXMIWMRZEVMSYWHMVIGXMSRW HIRWIVXLER GEVFSR SVEVEQMH'SQTSWMXIWQEHI JVSQXLMW
6IMRJSVGIQIRXW GER FI FSXL REXYVEP ERH W]RXLIXMG 1SWX QEXIVMEPI\LMFMXZIV]KSSHIPIGXVMGEPERHXLIVQEPMRWYPEXMSR
GSQQIVGMEP VIMRJSVGIQIRXW LS[IZIV EVI W]RXLIXMG 8LI TVSTIVXMIW+PEWWJMFIVWEVIEPWSXVERWTEVIRXXSVEHMSJVIUYIRG]
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JMFIVW 8LI VERKI SJ MRHMZMHYEP JMPEQIRXW MR XLI XS[ MW
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JVSQ XLI TVIGYVWSV X]TI ERH XLI TVSGIWWMRK XIQTIVEXYVI EW[IPPEWMRXLIJSVQSJYRMHMVIGXMSREPXS[WLIIXW
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PSEH 7XVIWWIW MR XLI VIMRJSVGIQIRX [IVI EPWS XS VIMRJSVGI E [MHI ZEVMIX] SJ TVIGEWX GSRGVIXI WXVYGXYVIW
MRGVIEWIHF]XLIJEXMKYIPSEHMRKF]ETTVS\MQEXIP] 8LI MRGPYHMRK MRWYPEXIH [EPP TERIPW EVGLMXIGXYVEP GPEHHMRK
JEMPYVIQSHIWSJXLIWPEF[IVITYRGLMRKWLIEVMRJMZIPSEHMRK TERIPWHSYFPIXIIWERHVIWMHIRXMEPQIQFIVW-REHHMXMSRXS
GEWIWERHJPI\YVIMRSRIPSEHMRKGEWI8LIQMRMQYQGETEGMX] FIMRKYWIHEWIGSRHEV]VIMRJSVGIQIRXJSVGVEGOGSRXVSPXLI
SJXLIWPEF[EWSZIVJMZIXMQIWXLIHIWMKRWIVZMGIPSEH KVMHWLEZIEPWSFIIRYWIHEWTVMQEV]VIMRJSVGIQIRX
/YQEVERH+ERKE6ES
JSYRHXLEXXLIVEXISJJEXMKYI 1SWX KVMHW FIMRK YWIH EW MRXIVREP VIMRJSVGIQIRX JSV
HIKVEHEXMSRMRFVMHKIHIGOWVIMRJSVGIH[MXL+*64FEVW[EW GSRGVIXI TEVXW EVI GSRWXVYGXIH YWMRK GSRXMRYSYW GEVFSR
WMQMPEV XS XLEX SJ FVMHKI HIGOW VIMRJSVGIH [MXL WXIIP JSV E JMFIVWMQTVIKREXIH[MXLXLIVQSWIXITS\]VIWMRW+PEWWERH
VERKISJWXVMRKIVWXMJJRIWWIWERHEQSYRXSJGSQTSWMXIEGXMSR FEWEPXJMFIVWQE]EPWSFIYWIH+VMHWGERFITVSHYGIHF]E
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XIWXIHJSYVJYPPWM^IGSRGVIXIHIGO RYQFIVSJQERYJEGXYVMRKTVSGIWWIW+VMHWGERFI[SZIRERH
WPEFWVIMRJSVGIH[MXL+*64FEVWXSJEMPYVIYRHIVEGSRGIRXVMG XLIRMQTVIKREXIH[MXLEXLIVQSWIXSVXLIVQSTPEWXMGVIWMR
JEXMKYI PSEHMRK 8LI]GSRGPYHIHXLEXXLI +*64VIMRJSVGIH +VMHWJYVXLIVIRLERGI XLI TSXIRXMEPJSVQSVI IJJIGXMZI
GSRGVIXI FVMHKI HIGOW LEH FIXXIV JEXMKYI TIVJSVQERGI ERH VIMRJSVGIQIRXSJGSRGVIXIWXVYGXYVIWYWMRKGSQTSWMXIQEXIVMEPW
PSRKIVJEXMKYIPMJIXLERIUYMZEPIRXWXIIPVIMRJSVGIHHIGOW FIGEYWIXLI]GERFIYWIHRIEVIMXLIVWYVJEGISJXLIGSRGVIXI
WXVYGXYVI FYX IQFIHHIH [MXLMR XLI GSRGVIXI
XS GSRXVSP
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XIWXIH WIZIRJYPPWM^IGSRGVIXI FVMHKI XSTVSZMHIXIRWMSRVIMRJSVGIQIRX+VMHWQE]FIYWIHEWXLI
HIGO WPEFW WM\ SJ [LMGL [IVI VIMRJSVGIH [MXL TYPXVYHIH SRP]VIMRJSVGIQIRXQEXIVMEPSVMRGSQFMREXMSR[MXLXVEHMXMSREP
+*64 KVEXMRKW ERH SRI [MXL WXIIP VIMRJSVGMRK FEVW 8LI VIMRJSVGIQIRX WYGL EW VIMRJSVGMRK FEVW ERH [IPHIH [MVI
WPEFW[IVIHIWMKRIHJSVEPMZIPSEHQSQIRXHIWMKREXIHF] JEFVMG&IGEYWISJHMJJIVIRGIWMRXLITL]WMGEPERHQIGLERMGEP
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6 %'-'311-88))6)4368
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*MFIV ZSPYQI HMEQIXIV WIGXMSR QSHYPYW WXVIWW 9PXMQEXI KGQ 4SMWWSRvW %RGLSVEKI
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WXVEMR PFJX
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4EVEJMP %VEQMH 8]TI+
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2% GSRI 0MRIEV'SQTSWMXIW
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2% HMIGEWX 7ERXSL
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MRGVIEWMRKXLIMVPIRKXLERHTPEGMRKEWSJXQIXEPWPIIZIEVSYRH
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VIPMIWSR JVMGXMSR ERH GPEQTMRK JSVGI FIX[IIR XLI [IHKIW
FEVVIPERHXIRHSR
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2SRQIXEPPMGZIVWMSRWSJXLMWERGLSVEKI
LEZI EPWS FIIR HIZIPSTIH GSRWMWXMRK SJ IMXLIV YPXVELMKL
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TS[HIVGSRGVIXI7LELIIR
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8LIPSEHHIJPIGXMSRVIWTSRWISJ*64TVIWXVIWWIHFIEQWMW
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XIRHSRW8LIFIEQWI\LMFMXEPMRIEVPSEHHIJPIGXMSRVIWTSRWI
YTXSGVEGOMRKERH[MXLEVIHYGIHWXMJJRIWWEJXIVGVEGOMRKYT
XS JEMPYVI %FHIPVELQER IX EP %FHIPVELQER ERH
6M^OEPPE%VSGOMEWEQ]IXEP
8[SQSHIWSJJPI\YVEPJEMPYVILEZIFIIRVITSVXIHJSV*64
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GVYWLMRK SJ GSRGVIXI MR GSQTVIWWMSR 8LIWI JEMPYVI
QSHIWEVIHITIRHIRXSR[LIXLIVSVRSXXLIGVSWWWIGXMSRLEW
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WXVIWWSJ*64VIMRJSVGIQIRX;LIRXLIGSRGVIXIWIGXMSRLEW
IRSYKLVSXEXMSRGETEGMX]IRSYKLGSRGVIXIEVIEMRGSQTVIW
WMSR
JEMPYVIF]VYTXYVISJXLIXIRHSRSGGYVW6YTXYVISJXLI
XIRHSRMWRSVQEPP]EGGSQTERMIHF]LSVM^SRXEPGVEGOWEXXLI
PIZIPSJXLITVIWXVIWWMRKVIMRJSVGIQIRXGEYWMRKWTEPPMRKSJ
XLI GSRGVIXI GSZIV %GGSVHMRK XS E RYQFIV SJ VIWIEVGLIVW
%FHIPVELQERIXEP2EEQERERH.ISRK'YVVMIV *MK{E
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QIXEPSZIVPE]ERHJ
WTPMX[IHKIERGLSVEKI
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GSRGVIXIXLYWGEYWMRKI\XIRWMZIGVEGOMRKERHWTEPPMRK;LIR
JEMPYVI SJ E TVIWXVIWWIH FIEQ MW GEYWIH F] GVYWLMRK SJ EXXVMFYXIHXSXLITVSKVIWWMZIJEMPYVISJGSRGVIXIMRGSQTVIWWMSR
GSRGVIXI [LIR XLI GVSWW WIGXMSR LEW MRWYJJMGMIRX VSXEXMSR +VEGIERH%FHIP7E]IHE
GETEGMX]
GVEGOMRK MW PIWW I\XIRWMZI GSQTEVIH [MXL XLSWI 'SQTEVMWSR SJ JPI\YVEP FILEZMSV SJ WMQMPEV GSRGVIXI
FIEQWXLEXJEMPF]VYTXYVISJXIRHSRW7SQIVIWIEVGLIVWLEZI FIEQWTVIWXVIWWIH[MXL*64ERHWXIIPVIMRJSVGIQIRXWLS[W
VITSVXIHXLEXJEMPYVISJ*64TVIWXVIWWIHFIEQWF]GVYWLMRK XLEXXLIFIEQWTSWWIWWZIV]WMQMPEVTVIGVEGOMRKWXMJJRIWWIWXS
SJ GSRGVIXI VIWYPXW MR MRGVIEWIH HYGXMPMX] 8LMW FILEZMSV MW IEGL SXLIV FYX XLI TSWXGVEGOMRK WXMJJRIWWIW EVI QEVOIHP]
6 %'-'311-88))6)4368
HMJJIVIRX %FHIPVELQER ERH 6M^OEPPE
JSYRH XLEX XIRHSRW MR .ETER EW I\XIVREP WXVIRKXLIRMRK XIRHSRW
MR
FIEQW TVIXIRWMSRIH [MXL *64 VIMRJSVGIQIRX LEH E QYGL )RKPERHJSVTVIWXVIWWIHFVMGO[SVO
MR'EREHETVIWXVIWWIH
PS[IVTSWXGVEGOMRKWXMJJRIWWVIWYPXMRKMRPEVKIVTSWXGVEGOMRK XMQFIV
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FIEQ[EWLS[IZIVQYGL KVIEXIVHYIXS]MIPHMRKSJWXIIP
VIMRJSVGIQIRX 8LI YPXMQEXI PSEH JSV XLI '*64 FIEQW {*EXMKYIFILEZMSV
LS[IZIV[EWLMKLIVGSQTEVIH[MXLWXIIPTVIWXVIWWIHFIEQW *EXMKYI VIWMWXERGI SJ FIEQW MW X]TMGEPP] MRZIWXMKEXIH F]
*SV GSRZIRXMSREP WXIIP TVIWXVIWWMRK FSRHIH XIRHSRW EVI GEPGYPEXMRKXLIWXVIWWVERKI JTTVSHYGIHMRXLITVIWXVIWWMRK
SJXIRTVIJIVVIHHYIXSGSRGIVRWSZIVGSVVSWMSRSJYRFSRHIH XIRHSR HYVMRK G]GPMG PSEHMRK ERH GSQTEVMRK XLMW WXVIWW
XIRHSRW &IGEYWI *64 XIRHSRW EVI VIWMWXERX XS GSVVSWMSR VERKI [MXL XLEX SFXEMRIH JVSQ XLI 72 GYVZIW JSV XLI
FSRHMRKQE]RSXFIVIUYMVIH8LMW[SYPHWEZISRXLII\XVE TVIWXVIWWMRKXIRHSR
I\TIRHMXYVI VIUYMVIH JSV KVSYXMRK 9RFSRHIH XIRHSRW EPWS -J XLI PIZIP SJ TVIGSQTVIWWMSR MR E TVIWXVIWWIH GSRGVIXI
JEGMPMXEXI VITPEGIQIRX SJ TVIWXVIWWMRK XIRHSRW MR GEWI SJ QIQFIV MW WYJJMGMIRX XS IRWYVI ER YRGVEGOIH WIGXMSR
WXVIRKXL MREHIUYEG] SV MRGVIEWI MR XLI HIWMKR PSEHW XLVSYKLSYX XLI WIVZMGI PMJI SJ XLI QIQFIV XLI JEXMKYI
9RFSRHIH*64TVIWXVIWWIHQIQFIVWEVIEPWSQSVIHIJSVQ GLEVEGXIVMWXMGWSJXLITVIWXVIWWMRKVIMRJSVGIQIRXERHERGLSVEKIW
EFPI XLER WMQMPEV FSRHIH TVIWXVIWWIH QIQFIVW 4VSFPIQW EVIRSXPMOIP]XSFIGVMXMGEPHIWMKRJEGXSVW-RGVEGOIHTVIWXVIWWIH
XLEX EVMWI [MXL YRFSRHIH *64 XIRHSRW MR FIEQW MRGPYHI GSRGVIXI QIQFIVW LS[IZIV PSGEPM^IH WXVIWW MRGVIEWIW MR
ERGLSVEKISJ*64VIMRJSVGIQIRXERHXLIJEXMKYIWXVIRKXLSJ TVIWXVIWWMRK VIMRJSVGIQIRX EGVSWW GVEGOW MR TVIXIRWMSRIH
XLIWIFIEQWIWTIGMEPP]EXXLIXIRHSRERGLSVEKINYRGXMSR FIEQW JVIXXMRK JEXMKYI SJ TVIWXVIWWMRK VIMRJSVGIQIRX MR TSWX
4SWXXIRWMSRIHFIEQW[MXLYRFSRHIH*64XIRHSRWI\LMFMX XIRWMSRIH FIEQW ERH XLI JEXMKYI SJ XLI XIRHSRERGLSVEKI
PIWWGVEGOMRKYRHIVWLSVXXIVQPSEHMRKGSRHMXMSRWGSQTEVIH EWWIQFP]FIGSQIZIV]WMKRMJMGERX%'-'SQQMXXII ERH
[MXLFIEQW[MXLFSRHIHTVIWXVIWWIHVIMRJSVGIQIRX1EMWWIR XLI 4SWX8IRWMSRMRK -RWXMXYXI LEZI VIGSQQIRHIH XLEX
ERH(I7QIX
FYXXLIGVEGOMRKMWRSVQEPP]GSRGIRXVEXIH XIRHSRERGLSVEKIEWWIQFPMIWGSRWMWXMRKSJTVIWXVIWWMRKWXIIP
MR E JI[ [MHI GVEGOW 8LI PSEHHIJPIGXMSR VIWTSRWI SJ ERHERGLSVEKIW]WXIQWFIEFPIXS[MXLWXERH[MXLSYXJEMPYVI
YRFSRHIH TSWXXIRWMSRIH FIEQW MW FMPMRIEV FYX GSQTEVIH G]GPIW SJ WXVIWW ZEV]MRK JVSQ XS SJ XLI
[MXL TVIXIRWMSRIH ERH FSRHIH TSWXXIRWMSRIH FIEQW XLI WTIGMJMIH YPXMQEXI WXVIRKXL SJ XLI EWWIQFP] %'- 6
TSWXGVEGOMRKWXMJJRIWWMWQYGLPIWW 4SWX8IRWMSRMRK-RWXMXYXI
6IWIEVGLSRGVEGO[MHXLWSJJPI\YVEPQIQFIVWTVIWXVIWWIH -[EQSXSIXEP
GSRHYGXIHXIWXWSRGSRGVIXIFIEQW
[MXL FSRHIH *64 [EW TIVJSVQIH F] (SPER IX EP
VIMRJSVGIH [MXL X[S X]TIW SJ FSRHIH TVIWXVIWWMRK XIRHSRW
&SXL QSRSXSRMG ERH G]GPMG PSEHMRKW [IVI WXYHMIH 'VEGO %*64 SV WXIIP [MVI 8LVII PIZIPW SJ MRMXMEP XIRWMSR SJ XLI
[MHXLW [IVI PEVKIV XLER JSV GSQTEVEFPI WXIIP TVIWXVIWWIH XIRHSR [IVI WIPIGXIH EX ERH SJ XLI XIRWMPI
FIEQW FIGEYWI SJ XLI PS[IV QSHYPYW SJ XLI *64 *EXMKYI WXVIRKXLSJXLI*64FEV8LIJEMPYVIQSHIWSJXLIFIEQW[MXL
PSEHMRKMRGVIEWIHXLIGVEGO[MHXLWWPMKLXP] EVEQMHXIRHSRWMRGPYHIHXIRHSRVYTXYVIHIZIPSTQIRXSJFSRH
&V]ER ERH +VIIR
WXYHMIH XLI PS[ XIQTIVEXYVI GVEGOWERHWLIEVGSQTVIWWMSRJEMPYVI8LIJEXMKYIWXVIRKXLEX
FILEZMSV SJ FIEQW TVIWXVIWWIH [MXL FSRHIH '*64 2S QMPPMSRG]GPIW[EWRSXPIWWXLER SJXLIWXEXMGYPXMQEXI
WMKRMJMGERXHMJJIVIRGIWMRFILEZMSV[IVISFWIVZIHJSVWLSVX WXVIRKXLSJXLIFIEQW8LIFSRHFIX[IIREVEQMHXIRHSRWERH
XIVQI\TSWYVIXSPS[XIQTIVEXYVI GSRGVIXI HIXIVMSVEXIH QSVI XLER XLEX SJ XLI WTIGMQIRW
&VEMQELIXEP
ERH1EVWLIERH+VIIR
MRZIWXM GSRXEMRMRK TVIWXVIWWMRK [MVI FIGEYWI SJ VYFFMRK FIX[IIR
KEXIHXLIJIEWMFMPMX]SJXVERWZIVWIP]TVIWXVIWWMRKGSRGVIXIFVMHKI EVEQMHJMFIVWERHGSRGVIXI8LIVIJSVIXLIJEXMKYIWXVIRKXLSJ
HIGOWPEFW [MXL FSRHIH '*64 XIRHSRW 8LI] JSYRHXLEX XLMW FIEQW [MXL EVEQMH JMFIV XIRHSRW GERRSX FI TVIHMGXIH F]
ETTVSEGL [EW IJJIGXMZI MR MQTVSZMRK XLI WIVZMGIEFMPMX] ERH JEXMKYIXIWXWSRMWSPEXIHEVEQMHJMFIVFEVW8LIVMKMHMX]SJXLI
WXVIRKXLSJXLIHIGOWPEFW'*64TVIWXVIWWIHWPEFWTIVJSVQIHEW FIEQHMHRSXHIGVIEWIQYGLYRHIVG]GPMGPSEHMRK
[IPP MJ RSX FIXXIV XLER GSQTEVEFPI WXIIP TVIWXVIWWIH HIGO %FHIPVELQERIXEP
XIWXIHJSYVTVIWXVIWWIHFIEQW
WPEFWMRXIVQWSJWIVZMGIEFMPMX]ERHWXVIRKXLVIUYMVIQIRXW YWMRK X[S FSRHIH '*64 VIMRJSVGIQIRX X]TIW '*'' ERH
4EVEPPIPPE]EVEQMHVSTIWLEZIFIIRHIZIPSTIHJSVYWIEW 0IEHPMRI
8LI JEXMKYI PSEHMRK [EW TIVJSVQIH [MXL E
YRFSRHIHTVIWXVIWWMRKGEFPIWEXXLI9RMZIVWMX]SJ'EQFVMHKI QE\MQYQPSEHIUYEPXSXLIGVEGOMRKPSEHERHXLIQMRMQYQ
&YVKS]RI
4EVEJMPMWRSXWXVMGXP]ER*64 IUYEP XS SJXLIGVEGOMRKPSEH8LI EYXLSVWGSRGPYHIH
FIGEYWI RS VIWMR TSP]QIV
FMRHW XLI JMFIVW XSKIXLIV 8LI XLEXXLIFIEQWWYVZMZIHQMPPMSRG]GPIWSJJEXMKYIPSEHMRK
VSTIW LEZI ER I\XIVREP TSP]IXL]PIRI WLIEXL XLEX WIVZIW XS [MXLSYXQIEWYVEFPIIJJIGXWSRXLIFIEQWXMJJRIWW
VIXEMR XLI WLETI SJ XLIVSTI ERH EPWS XS WLMIPHXLI EVEQMH (SPERIXEP
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JMFIVW JVSQ 9: PMKLX XS [LMGL XLI] EVI WYWGITXMFPI 8LI FIEQWWLS[IHRSJEXMKYIJEMPYVIEJXIVQMPPMSRJPI\YVEPG]GPIW
MRXIRHIH YWIW JSV XLI VSTIW EVI EW I\XIVREP TVIWXVIWWMRK [MXLRSQMREPXIRWMPIWXVIWWIWSJ J G 14E J G OWM
EXXLI
XIRHSRW SV EW YRFSRHIHXIRHSRWMRWMHIHYGXWMRXLIWIGXMSR I\XVIQIJMFIVSJXLIFIEQW+VEHYEPWSJXIRMRKSJXLIKMVHIVW
8LMWEVVERKIQIRX EZSMHW ER] TVSFPIQW EWWSGMEXIH [MXL XLI [EW SFWIVZIH FYX XLI FIEQW MRHMGEXIH RS PSWW SJWXVIRKXL
JMFIVW GSQMRK MRXS GSRXEGX [MXL XLI EPOEPMRI GSRGVIXI HYIXSXLIJEXMKYIPSEHMRK
7XVIWWIWEVIPMQMXIHF]WXVIWWVYTXYVIGSRWMHIVEXMSRWX]TMGEPP] &VEMQEL
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ERH6M^OEPPE
PIEHMRKXSXLIRIIHXSIZEPYEXIXLIPSRK
XIVQ FILEZMSV SJ *64 TVIWXVIWWIH QIQFIVW 0SRKXIVQ [LIVI !HYGXMPMX]MRHI\ !GYVZEXYVI !VSXEXMSRERH
TVIWXVIWWPSWWIWEVIGSQTYXIHFEWIHSRGVIITERHWLVMROEKI ! HIJPIGXMSR 8LI WYFWGVMTX ] HIRSXIW ]MIPHMRK SJ XLI
SJXLIGSRGVIXIERHVIPE\EXMSRSJXLIXIRHSRW0SWWIWJSV*64 VIMRJSVGIQIRX [LMPI Y HIRSXIW YPXMQEXI PMQMX WXEXI
XIRHSRWHYIXSGVIITERHWLVMROEKIEVIX]TMGEPP]PIWWXLERXLI &IGEYWI*64VIMRJSVGIQIRXWHSRSX]MIPHXLIGSRZIRXMSREP
GSVVIWTSRHMRK PSWWIW JSV WXIIP XIRHSRW HYI XS XLI PS[IV HIJMRMXMSRSJHYGXMPMX]MWRSXETTPMGEFPI%RYQFIVSJEPXIVREXMZI
QSHYPYWSJIPEWXMGMX]SJXLI*646IPE\EXMSRPSWWIWEVIQSVI HIJMRMXMSRWLEZIFIIRWYKKIWXIHMRXLIPMXIVEXYVI
TVSFPIQEXMGFIGEYWIXLIVIMWPMXXPIHEXEXLEXHIWGVMFIWVIPE\EXMSR %FHIPVELQER IX EP
TVSTSWIH HIJSVQEFMPMX] VEXMS
PSWWTVSJMPIW6IPE\EXMSRGLEVEGXIVMWXMGWZEV][MXLXLIJMFIV GVMXIVME XLEX VIPMIH SR XLI IUYMZEPIRX HIJSVQEXMSRW SJ XLI
X]TI ERH EVI KIRIVEPP] PIWW XLER SZIV XLI PMJI SJ XLI YRGVEGOIH WIGXMSRERHHIJSVQEXMSRWEXYPXMQEXI'YVZEXYVI
WXVYGXYVI.7')
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7IR IX EP
I\EQMRIH %*64 TVIXIRWMSRIH FIEQW EW XLI VEXMS SJ XLI GYVZEXYVI SJ HIJPIGXMSR SJ XLI FIEQ EX
YRHIV WMQYPEXIH XMHEP ERH XIQTIVEXYVI GLERKIW ERH JSYRH JEMPYVIXSXLIIUYMZEPIRXIPEWXMGGYVZEXYVISVHMWTPEGIQIRXSJ
XLEX XLI GSQFMRIH IJJIGXW SJ XIQTIVEXYVI GLERKI ERH XMHEP XLIYRGVEGOIHFIEQEXEPSEHIUYEPXSXLIYPXMQEXIPSEH
WMQYPEXMSR [IVI HIXVMQIRXEP XS XLI TIVJSVQERGI SJ %*64 2EEQER ERH .ISRK
TVSTSWIH ER IRIVK]FEWIH
TVIXIRWMSRIH FIEQW 8LI PSWW SJ QSQIRX GETEGMX] SJ XLI HIJMRMXMSRSJXLIHYGXMPMX]MRHI\JSVTIVJIGXP]IPEWXSTPEWXMG
FIEQWMRGVIEWIH[MXLPIRKXLSJI\TSWYVIZEV]MRKFIX[IIR FILEZMSV%GGSVHMRKXSXLITVSTSWIHHIJMRMXMSRXLIHYGXMPMX]
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8SYXERNMIXEP
GSRJMVQIHXLIWIVIWYPXW[MXLJYVXLIV
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PEQMREXI W]WXIQW [MXL XLI EHZERXEKIW EWWSGMEXIH [MXL MRHITIRHIRX I\XIVREP VIEGXMSR JVEQI ERH W]WXIQW XLEX
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FIEQW[IVIWXVIRKXLIRIH[MXL'*64TPEXIWFSRHIHSRXLI MRGVIEWIH[MXLXLITIVGIRXEKISJGSQTSWMXIVIMRJSVGIQIRXMR
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2EEQER
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FIEQW Q ? JXA WTER
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XLIWLIEVWXVIRKXLF]EXPIEWX 8LIWLIIXW[IVIJSYRHXS IRLERGIHSZIVYR[VETTIHWTIGMQIRW-REHHMXMSREREREP]XMGEP
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ERGLSVIHEVSYRHXLIFSXXSQSJXLIFIEQW VIPEXMSRWLMTSJXLI[VETTIHWTIGMQIRW6IWYPXWJVSQEWIVMIW
:EVMEXMSRW MR XLI RYQFIV SJ PE]IVW EW [IPP EW XLI JMFIV SJI\TIVMQIRXEPXIWXWSRGSRGVIXIGSRJMRIH[MXL*64WLIIXW
SVMIRXEXMSRERHPE]SYX[IVIWXYHMIH0EQSXLIIXEP GSQTEVIH JEZSVEFP] [MXL XLI VIWYPXW SFXEMRIH F] XLI
2EEQER 8VMERXEJMPPSY E .EZSV IX EP TVSTSWIHQSHIP
/EGLPEOIZERH&EVRIW,YXGLMRWSRERH6M^OEPPE 'SRJMRIQIRX IJJIGXMZIRIWW SJ *64 NEGOIXW MR GSRGVIXI
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ERH %RXSRSTSYPSW (IRMEYH ERH 'LIRK ERH7LELE[]7EEJMIXEP
8LIMQTVSZIQIRXMR
0SQFEVHIXEP
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MRGVIEWIH [MXL MRGVIEWMRK RYQFIV SJ PEQMREXI PE]IVW 8LI MRGPYHMRKGSRGVIXIWXVIRKXLX]TIWSJJMFIVWERHVIWMRJMFIV
QE\MQYQWLIEVWXVIRKXL[EWSFXEMRIHJSVFIEQWXLEX[IVI ZSPYQIJVEGXMSRERHJMFIVSVMIRXEXMSRMRXLINEGOIXNEGOIX
[VETTIHSZIVXLIMVJYPPHITXLF]WLIIXWLEZMRKJMFIVWTIVTIR XLMGORIWWWLETISJGVSWWWIGXMSRPIRKXLHMEQIXIVVEXMSSJ
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XLINEGOIX
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XSXLIWTIGMQIR'SRJMRIQIRXMWLMKLP]HITIRHIRXYTSRXLI EGGSYRXIHJSVXLIGSRXMRYSYWMRXIVEGXMSR[MXLXLI*64[VET
GVSWWWIGXMSREPWLETIERHEWTIGXVEXMSSJXLIGSPYQR4VSXEIX HYIXSXLIPEXIVEPWXVEMRSJGSRGVIXIXLVSYKLERMRGVIQIRXEP
EPF1YOLIVNIIIXEP
ERHMWQSWXIJJIGXMZIJSV MXIVEXMZIETTVSEGL8LIVIPEXMSRFIX[IIRXLIE\MEPERHPEXIVEP
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8VERWZIVWIWXVEMR WXVEMRW[EWMQTPMGMXP]HIVMZIHXLVSYKLIUYMPMFVMYQFIX[IIR
MRXLIGSPYQRWIGXMSRGEYWIHF]PSRKMXYHMREPGVEGOMRKERH XLIHMPEXMRKGSRJMRIHGSRGVIXIERHXLI[VET8LIQSHIP[EW
WIGXMSR HMPEXMSR VIWYPXW MR LSST WXVEMRW MR XLI *64 XLEX GSQTEVIH[MXLEWIXSJI\TIVMQIRXEPXIWXWERHWLS[IHZIV]
TVSHYGIGSRJMRMRKTVIWWYVI8LMWMRGVIEWIMRGSRJMRMRKTVIWWYVI KSSHEKVIIQIRXMRFSXLXLIE\MEPWXVIWWWXVEMRERHXLIWXVIWW
GER GEYWI ER MRGVIEWI MR E\MEP WXVIRKXL ERH HYGXMPMX] PEXIVEPWXVEMRVIWTSRWI
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GSRHYGXIHEPEVKIWGEPIXIWXSRSRIEW
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LMKLIVE\MEPERHVEHMEPWXVEMRWXLERWXIIP[VETTIHGSRGVIXI HMJJIVIRXVIXVSJMXWGLIQIWYWMRK*64GSQTSWMXINEGOIXW8LI
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XIWXWWLS[IHXLEX*64GSQTSWMXINEGOIXMRKW]WXIQWGPIEVP] 8LIFILEZMSVSJVIGXERKYPEVFVMHKIGSPYQRW[MXLWYFWXERHEVH
GER FI MRWXEPPIH [MXLSYX EJJIGXMRK XLI SZIVEPP KISQIXV] SV HIWMKR HIXEMPW JSV WIMWQMG JSVGIW [EW MRZIWXMKEXIH F]
ETTIEVERGI SJ XLI WXVYGXYVI 8LI EYXLSVW IQTLEWM^IH XLI 7EEHEXQERIWLIXEPF
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QSHISJJEMPYVI6IXVSJMXXMRKSRI[IEORIWW[MXLSYXGSRWMHIVMRK VIKMSRXSMRGVIEWIGSRJMRIQIRXERHXSMQTVSZIXLIFILEZMSV
SXLIVTSXIRXMEPQSHIWSJJEMPYVIGSYPHPIEHXSMRIJJIGXMZIERH YRHIV WIMWQMG JSVGIW 6IWYPXW MRHMGEXIH XLEX WMKRMJMGERX
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1SRXMIXEP
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XLI STXMQEP XLMGORIWW SJ *64 NEGOIXW ERH XS IRLERGI XLI 7IMWQMGVIXVSJMXHIWMKR{-RXLIEJXIVQEXLSJXLI
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GMVGYPEVGVSWWWIGXMSRW8LIHIWMKRTVSGIHYVIWXIQWJVSQXLI FVMHKIW ERH TMIVW SGGYVVIH RYQIVSYW WXYHMIW [IVI
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JSYRH XLEX
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MRXIVQWSJIEWMP]GSQTYXEFPIUYERXMXMIWWYGLEWXLIYPXMQEXI 'SRWIUYIRXP]WIZIVEPHIWMKRKYMHIPMRIWSRXLIYWISJ*64
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