Práce volno asového pedagoga se seniory se zam ením na digitální fotograii
Bakalá ská práce
Studijní program: B7505 – Vychovatelství
Studijní obor: 7505R004 – Pedagogika volného asu Autor práce: Daniela Novotná
Vedoucí práce: Mgr. Andrea Rozkovcová, Ph.D.
Liberec 2017
Prohlášení
Byla jsem seznámena s tím, že na mou bakalá skou práci se pln vzta- huje zákon . 121/2000 Sb., o právu autorském, zejména § 60 – školní dílo.
Beru na v domí, že Technická univerzita v Liberci (TUL) nezasahuje do mých autorských práv užitím mé bakalá ské práce pro vnit ní pot ebu TUL.
Užiji-li bakalá skou práci nebo poskytnu-li licenci k jejímu využití, jsem si v doma povinnosti informovat o této skute nosti TUL; v tomto p í- pad má TUL právo ode mne požadovat úhradu náklad , které vyna- ložila na vytvo ení díla, až do jejich skute né výše.
Bakalá skou práci jsem vypracovala samostatn s použitím uvedené literatury a na základ konzultací s vedoucím mé bakalá ské práce a konzultantem.
Sou asn estn prohlašuji, že tišt ná verze práce se shoduje s elek- tronickou verzí, vloženou do IS STAG.
Datum:
Podpis:
1234526789
123456789A5BCDE57F256434822584DA5567FD5759754348
D485E 5254B479589A56!"567FD"52525#"$%95649F3C5 F5&5&'A564
3482$5"5!"$"5(49"$9AE4 5&$!"&325(49$23$5)"B7D5629 5"DE2 5 *
348"53$7+5"58C'58&$!AD52564&3C$5"5674&$47C5674572"2D"5375 F5623534
47"9F$47D523$"8"$56745&9"47C5629A527""52$,A%34853$7F5"5644E256!"5E
F9A5-%2&$9A3.5/25F875BCDE57F2564348225&8574"9525BA3+52564647
25$76"84&$5BE5&$"2
ABCDEF5D
0232F!&3F567FD5&52B+8F58F8F9A525849+5%2&5&9"47.51A
67FD5BC458C$84!"$56747253$7+564&3C$95&9"47.5&4E795F329ADE564&$6.
253464"%9ADE56728"567456'A5*4$472*""574725BC572"48F9585&6467F
D"5&5(49"$9A5&$!"&35(49$23$5)"B7D
2567FD"5,&459,678589C5$47$"D356492$3C545*4$472*48F9A5458
F8F9A5&36"9C5&9"47.5252&63$C5$4E4$458F8F9A53$75,&454699C5452&63$C
3'94&$9AE45%9A5/25$$45$47""59282,5,"#5&24$9+5646"&5674725,E4 6!A6728C572"2D525822D5 "&3&56!3FF56492$3C5A&3295856723"5258F
A59F87EC54#9+DE58C6'9A567472
0232F!&3F567FD54B&2E,56!A4E585*475B74#7C519F5&545&37"6$258C
$84!9F56745-%C5375853$7+DE5,5646&29F5F329A567FD5&564%A$2%525326"
$425894829F5F&29A5"9*472DA545*4$472*48F9A
1234567 89256AB 899"47 5 8F8F9A 53'94&$9A5 %9A 5 849+5 %2& 5""$F9A5 *4$4
72*"
ABCDEFD
4E502DE4754E&"&5"&5*4D&"95495$E5D2$"495295*75$"52D$"8"$"&54*
&9"47&54E52"54*5$E"&5$E&"&5"&5$45D72$5256747255E"DE55"5"85&9"47&525&$
4*5B2&"D5674D&&&5295D464&"$"4957&5*47525B$$756E4$4726EC54E567472
52&572"5"95D44672$"4955"$E5149"$C519$756(49$23$75"95)"B7D
895$E50DE4754E&"&5D295B5*"7&$C5*495$E5$E47$"D25B2D37495$456E4
$4726EC5$45$E5D2$"4954*5&9"47&5295"$&52&6D$&55E"DE527597"DE5BC5$E
2&6D$&54*5367"9D5$2DE"95*$75$E5$E47C5$E5674725D72$5"&5&D7"B
"$&5676272$"49572"$"495295822$"4954E5"&D&&"49567&9$&5$E54B&782$"49&
"956723"&5295&&$&56746472&54*5$E5674725"67489$&
54E"&502DE4754E&"&5"9D&525B7"*5B74DE75"95$E5669"3&54E5B74
DE75D49&"&$&54*5&D7"6$&5D72$5"954775$45**"5$E5D47&579"79$&54E5B2
&"D5394554*5D46$7554735"&5E75&D7"B52&5552&525DE26$75*4D&"9
495B2&"D57&54*56E4$4726EC
1CD8E5F9B5:9"475D2$"495367"9D5279"95*75$"5""$256E4$4726EC
BCF
623
BEF26E65F 9CD4896!2D2"EF!
#$FEF5DECD5F9%26C58C82E&' 1234156789333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333 4A 123215BCDEF333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333 2
()34%76789C82E&#*
1341BFEC6BED3333333333333333333333333333333333333333333333333333333333333333333333333333333332
1321B6EF11ECEE1BE11F7D1B1BCDEF 333333333333333333333333333333333332!
131BFEC6ED6D33333333333333333333333333333333333333333333333333333333333333333333333333333333333332"
*+5,82CD89-89./0E8DF%%FE88"(#
1129EF6F634%76F92E2"EF .3"D7%89!2D2"EF!E2C82E(4 512CEF%FE2"EF (' 1!341#F$%&'1FEF()3333333333333333333333333333333333333333333333333333333333333333333333333333333333333*
4)238289E2"EF 1(
1+341,)C91E67- 3333333333333333333333333333333333333333333333333333333333333333333333333333333333333.
1+321/'F6BFD6D1-EF)33333333333333333333333333333333333333333333333333333333333333333333333333333.
1+31076FE11B)B1FEF()11E-EFE7C9333333333333333333333333333333333333333333333333.
1+31076FE11B)B1FEF()11E6-C93333333333333333333333333333333333333333333333333333..
1+3.121D34E7C915FEC&1EE1BC933333333333333333333333333333333333333333333333333333333333333333333333.!
1+3!12'ECEBC91)BC9156C9$33333333333333333333333333333333333333333333333333333333333333333333."
6)2382896F%F-892D755' '3C5C 4#
+764E 44
127D7%DEFDEF46
;
88F DFB%5
<542B32=589"3F$47C564&95567FD5&564%A$2%>?
@542B32=589"3F$47C564&955*4$472*48F9A>?
88F 27D95EFD5
(:(5A5(49"$9A5&$!"&345(49$23$5)"B7D
B
623
25&85B232F!&3567FD"5&5B589482$58F8F9A5&9"47.585F,48
4B475""$F9A5*4$472*"5425""$F9A5*4$472*"5,&5&"58CB72255$4E45.84
5#5,5$45.,54E4$+5349A%35:36"95&9"47.5,&584"25674$45#5&"
C&A5#567FD5&5$4$45834845&36"945F5&C&
1A5$$4567FD5BC45925F325674&$48295"$72$7C53$7F5&52B+8F 8F8F9A5&9"47.525,E45&6D"*"3C58C$84!"$58F82DA56747256745&9"47C
F 5 $23 5 BC4 5 264$!BA 5 674&$482$ 5 "$72$7 5 4 5 ""$F9A 5 *4$472*"" 5 2 5 *4$4
72*48F9A52F82DA5674725,524#959253'94&$9A5%9A54847B2567472
58C#248225&4%"$52&63$C58F8F9A5&9"47.5&52&63$C53'94&$9AE45%9A
74 5 ,"'$9A5 64&9 5 4&84,9A5 &"5 4894&$" 5 5 -%2&$9A3. 5 ,&5 6!"6728"2 5 $2B3
&5"9"3F$47C5 64&95 674 5 ,94$"8F5 $2$2 5 74 5 6492$3C5 5 67.BE5 67235 ,&
256!"67289+59A35325,&5&"58'526"&4822
:36"95&9"47.5,&584"25$235674$45#5,5$45&36"9253$7F52#"25E"&$4
7"D3+ 5 8+84, 5 64#A8F9A 5 3"94*" 5 0C2 5 ,&5 828F 5 25 &5 4 5 37 5 6!"EF&A 9345&53'94&$"5&532&"D345*4$472*"A525672DA585$95344!5235BC5BC4
4#9567464,9A53'94&$"554B5"9+DE5&53'94&$"5&4%2&9+"5745&3
6"9 5 &9"47. 5 &A 5 B+$ 5 $#3 5 #A$ 5 8 5 &8$ 5 &$F 5 & 5 43492,ADA 5 $DE944"
5"56!&5!A8,'A53'94&$"5&532&"D3+"5*4$42627F$C59&A5A$5&9"475482E
672D482$5&5""$F9A5*4$42627F$5/B45&5$4E4592462359B4,A525,567459,5623
$#3 5 F 5 & 5 *4$472*"" 5 672D482$ 5 (7 5 BC 5 8C$84!9 5 9,9 5 674 5 6'A 5 3464
948F9A5 *4$472*"A 5 25 $235 674$4 5 2BC5 644E5 &9"47.5 A&3295 *4$472*"5 F
672D48F82$55BC5*4$472*"55""$F9AE45*4$42627F$5A&32"5254E"5,5F58C
#A$54%A$2%5,56745&64&$5&9"47.58"5&4#"$+56!A&$74,5674$45,&56745-%C537
58C$84!"25&37"6$25646"&,ADA5F329A564&$6C567FD592564%A$2%"5252'A5#"$%9
"9*472D5:37"6$25,&5925F875469"2545326"$45&E79,ADA59,.#"$,'A5"9*47
2D545*4$472*48F9A5253464"D"5:37"6$25,&458F'C56!"4#92535567FD"
<D
BEF26E65F 9CD4896!2D2"EF!
""$F9A5*4$472*"56!"749+58+84,5!2A532&"D345*4$472*""523454 642A 5 (2#+ 5 4B"9A 5 $*49 5 $2B$ 5 26$46 5 9B4 5 928"2D 5 F 5 8 5 &4B 5 2B
48294 5 382"$9A 5 327 5 479A 5 $DE944" 5 89"32,A 5 $23484 5 7CDE4&$A 5 #
7E+595%"5$+95#5BC5&52C5492%"$5252&$272525,,"DE5D9253&F5 A3C59A
35D95258358+B75""$F9ADE5*4$42627F$.5925$7E5&"5""$F9A5*4$42627F$
.# 5 484"$ 5 #5 $! 5 32#+ 5 : 5 8+84, 5 *4$42627F$. 5 89"32,A 5 " 5 67472C 5 674 -6728 5 2 5 672D48F8F9A 5 *4$472*"A 5 A3C 5 $4$4 5 *23$ 5 $23 5 89"32,A 5 &A$3C 39"#9ADE 5 " 5 3$749"D3+DE 5 6B"32DA 5 ,23 5 2DEF$ 5 & 5 *4$42627F$ 5 ,23 5 8C*4$4
72*482$5D459,6'A5*4$472*""5%E45&58C827482$52585964&9A5!25,235672D482$
&567472C56745-6728564!A9+DE5*4$472*"A
127348F 5 8FA 5 # 5 *4$472*48F9A 5 & 5 F 5 B+$ 5 674 5 94E 5 84 5 E4$4
72*48F9A 5 82&$9 5 29 5 64&$6C 5 F 5 &A 5 48F2$ 5 364"D 5 &8$4 5 D49
25&64&$52'AE45254B7F5*4$472*"58C#2,56!8'A5%2&54E4F9A525!2
643&.5254C.5C5,5459FE4959B456F9482952%39$A5&64'$5*4$472*"
272A5432#"359258#C5!"5*4$472*48F9A5*4$472*5&64EF5925&8.,5"9&$"93$53C
F%394$5&64'C525D45925&9A35B52DECD945E4$472*"5,54B7+58+7248+
674&$!353$7+5.#53F2$5,2358"A5&8$53459F&5F12735@D<D5&5?
GH
2 5 9F&,ADADE 5 326"$4FDE 5 8 5 ,23 5 .#"$+ 5 , 5 8+B7 5 4$"8 5 2 5 ,E4
&67F89523464948F9A5454B725 F56235646A'"5.#"$4&$52564&$2$5&8$2 25,E45B2785I372,485A9A52'A54B724856783C5,2345,&45646!A525642A
*4$472*"5"9"525B278C525F875326"$4C5646"&,"5F&2C5*4$472*48F9A54B,3$.
8564ECB525$235$45,235F&2C58C#2,5#F97522$7&35647$7$9A5*4$472*"
:2D6
25$$45%F&$"58C#","5$47""54$"8545/**253$7+5!A3F5#54B745*4$472*""
92!AA5*23$5#58FF567*3$9592&$28"$56!A&$74,5 4B7F5*4$472*"59&A5B+$
29"5&$4674D9$954&$7F525&67F895B2789F5 4B745*4$472*""5F54B745$45D45,
92 5 9A 5 8C4B7294 5 JA3F 5 $4 5 4$"8 5 (4 5 &B 5 F 5 9&64%$ 5 4$"8.
<<
253C#598A5D45*4$472*,589"395A&$45.C&952DECD95*4$472*"
6452DECD9+5DE24&5/25*4$472*""5&A5B+$5E95,2&95D45*4$472*5DE$52
DEC$"$5/9A59"D5E47'AE459#54&$7F5*4$3253$7F5F59,2&9+5349D6$5(C#5#592,
54$"853$7+5,567459F&52,A28+5"5BCDE4543F2$592,A$5"5-E564E
3$7+5BC54$"8525,'$52,A28,'A59"5$45#54$"85,5*4$472*4829+54&$2$
9A"5*4$472*C58"D5%2&$45927%A5$45#5*4$472*"5B5!A32$5$45D45DED
4$"8C54E4589"394$59FE49585372,"9585&$529B45,5.#58C$84!"$
&2"54A$454$"85F5925C&"5F$"'A5KF$"'A5,23454$"85.#592,A$592
94E+DE 5 8+$8279+DE 5 ADE 5 9F+DE 5 D. 5 KF$"'A 5 , 5 5 &64!FF9A 9#"8+DE58DA5BL56!A749ADE52$7"F.59B458DA53$758C$84!"5%48354C$4 8D"5,&45&&$289C545&$$"D3E45D359B45$82758585372,"95.#5$2348
92,A$5F$"'A5926!A325E4BC574&$4DA5562!56474&$E45DE585925&3F3FDE
&52,A592,A$52,A28F5F$"'A53$7F589"325-69459FE445M#5BC45A9945#
5*4$472*" 5 &A 5 ,2&9 5 8C6+82$ 5 D4 5 ,5 4$"8 5 /** 5 $4 5 8 5 &85 39" 5 92+8F ,9492%94&$A5/F8F5"8F348"59258+B752BC5&"585*4$472*""592'59D45D4
&5ABA5,52592462356!3FF56!59,5$45D458"A5C525D455DED
3F2$5,9492%9525%"$95F/**5@D<>5&5<N<BH5(5,9492%94&$"5254B75*4
$472*""5&5"58CB28"5,95D"$F$54B7$2512625123456789ABCDE3BF66DFA3B6
39AB453B65B96585$45/**5"O,585&8539"5#59,9'A5D45.#5*4
$472*567454B745*4$472*""52$5,52$56F753743.5BA#535*4$472*4829
4$"85F/**5@D<>5&5<N<BH
(5,9492%94&$"5&58C,2!,5"5/D48F53$7F58FA5#5925*4$472*""5BC 945B+$59"D5,"9E459#5$45D45BC456784$9A5F,5*4$472*48F9A5P289A
4$"85BC55B+$54"929$9A5258+729+55BC5925&B564$2$5644794&$5&8+
8+7259B4564ECB5F/D48F5@DDG5&5@BQDH
%5,54$"858495&67F895254B!5&295454B7253C#5B56!A"'5$"
$79+ 5 9B 5 5 *4$472*" 5 !, 5 # 5 , 5 4 5 E289A 5 4$"8 5 /DED 5 8C*4$4
72*482$ 5 38$"9 5 92 5 4D 5 9+B7# 5 DED 5 8C*4$472*482$ 5 %9A 5 38$"9 5 2 5 ,,A 67284537F&5/**58FA5#54$"85BC552BA72$5E7B25QDR5564DEC5D5*4$4
72*" 544$4 5 6728"4 5 &5 F5 8" 5 4B! 5 62$9"$ 5 6!" 5 *4$472*48F9A 5 $2". 5 $23
<@
829E4523725I92%9A52374*4$472*"5&58C#A8F56745*4$472*48F9A5$2"
F/**5@D<>5&5Q;QBH
1F5BCDE5256789A525E289A54894&$"5*4$472*256482#482259A5A82$5&
345&B5E2$54$"8C5258'A2$5&"52,A28+DE5$2".54C5$74DE59"$
89A29A5$4E45D458"A5/A82$5&5925&8$5,23459259&64%$945E74254
$"8.525$58"$54B72C5M9A58"$5&8$5854B72DE5&5F592%"$56435F$
DEC525%2&5&543492482$519F5&58564&$2$5458C$84!9A5&"5934"3259F8C3.
3$75&562352$42$",A54C$459F8C3C5,&5&5&92#"256!2$5"5-%2&$9A3.537
12239F2F39!2D2"EF!
/D48F585&8539"5,23452'A54B724856783C58FA5646!A525642A5*4
$472*"546!A525642A58C6O,5BC+5674&$475*4$472*"54C$458256783C52,A
&482DA5*93D"5JA32,A535&54$"8592DEFA5 F54E454$8F!$52$4&*7
B2789542L482$52564$7E482$54$"85258,'A56783C542A525646!A5&59
&A5925*4$472*""54B,8482$5&64%951&456!A62C53C5,5925*4$472*""5645,9 67835F/D48F5@DDG5&5QBH
46!A5&5925*4$472*""54B,8,56!5E289A54$"850+8F5$28'A59#
642A52585*4$472*""5F5*93D"5S99AT5E289AE454$"8546!A5BC54 B+$5B2789598+729525945BC57'"$542A5,5674&$47525E289A54$"8
:$,95$235,2345646!A5BC5945B+$56!A"'5B2789525%9"$52BC5&585959
$7FD5E289A54$"85M52%F$%9A3.5&5&$F8F5#5646!A59B45642A5,&456!A"'
%9"$F5DE24$"D3F5B278958+729F525-695$2%,A5E289A54$"85F/D48F5@DDG
&5NDN<H
3F%,92BEF26E65
2'A" 5 4B7248+" 5 6783C5 ,&4 5 "9" 5 2 5 B278C 54C$4 5 6783C5 & 5 4E4 5 &$F$
E289A54$"8
)"9"5645/D4854E45$84!"$5372,5D&$564A59B45E729C5B485)"9"
BC 5 C 5 " 5 &B4 5 6.&4B"$ 5 E2749"D3C 5 9 5 B+8F 5 8AD 5 )"9" 5 BC 5 & 5 C
&64%9 5 BAE2$ 5 4 5 &$,9E4 5 A&$25 9B4 5 A$5 9,23+ 5 7C$& 5 6728"9 5 &$!AF9A
<Q
9B45349$72&$5F/D48F5@DDG5&5NNH548.7%A5*4$472*"574,5"9"592587
$"3F9A 5 E47"49$F9A 5 23!"89 5 2 5 "9" 5 84DA 5 64E 5 "8F32 5 (4B"92D 5 87
$"3F9ADE525E47"49$F9ADE5"9"A59284,564D"$5&$2B""$C525!F5!"5*4$472*48F9A 372,"9C5&59,%2&$,"54B,8,A5"9"5E47"49$F9A53$756.&4BA53"95256432,A592 'A!35674&$475P47"49$5,59$95&"5EA2$52BC59622535,95&$7295K23!"89
"9"525"9"584DA564E54E45B+$5&769$"9C59B45297C5!3C53$7599F
&"9584564E5"8F3252#535,,A52349%9A5F48.7%A5*4$472*"5@DDD5&5N?
NGH
E93D5B2785,&45645/D4859F&,ADA=58+72O,A54$"85$A564
2A5$8F!A52$4&*75&9A356!"$2E,A5644794&$525349$72&$,A5F/D48F5@DDG
&5N>H548.7%A5*4$472*"574,5B278C5925&$9525$65432,5925,,"DE 6&CDE44"D3+58"85925"8F325,23564D"$C59B459F2C559,58C84F82,A549
B278C 5 6.&4BA 5 3"9 5 3#$4 5 B278C 5 &C$ 5 2 5 3!"328 5 6.&4BA 5 367&"89 5 02782 6!$5,5F925$235A745,E454&8$9A5F48.7%A5*4$472*"5@DDD5&5GNG?H
;2 2
P"9'$56482#,53464"%9A56728"2525.#"$F51&456459,5F32
352'A54B,848F9A5948+DE56.&4B.58C,2!48F9A5K924&$5&4B4756728"5.
#56482#482$525B64A9%9459$94&$528'235$2$456728"25BC59F592 B7F9"$585$4534649482$54B725582&$9ADE56!&$285467856235.#5B+$54&2
#94 5 4&4B"$E4 5 674,8 5 2 5 7484, 5 4DA 5 8 5 *4$472*"" 5 FP"9'$ 5 <BGD 5 & 5 QNH
16 !6A"3B43B# $#B6DAD"3BC%D6C%"&B!65'3(F5P"9'$5<BGD5&5QH
/D48F5!A3F5#5&67F89+5A&$9A54B7248+DE56783.5$84!A58+&9+
4B&2E 5 25*47 5 *4$472*" 5 F 5 647489F8F 5 %$9A 5 $3$ 5 & 5 674EA#9A 5 *4$472*"A 9B4 5 4B72. 5 :$,9 5 ,234 5 %$ 5 $3$ 5 82 5 467282 5 2 5 64 5 !FDADE 5 623 5 D4
&$7F93 5 $23 5 " 5 *4$472*"" 5 674EA#A 5 58E4 5 E479AE4 5 74E 5 4 5 6728E4 5 49AE4 74E54$5&5&$,9+5&75872DA56$5256728549A5%F&$"5&59F'564E57
#A59,525$4$45A&$5&592DEFA5B452$E45!5F/D48F5@DDG5&5N;NBH /** 5 2&$F8F 5 9F47 5 # 5 32#+ 5 *4$472* 5 BC 5 5 9F$ 5 2$+ 5 ! 5 9B4 5 $23
6728"45$!$"95K2$+5!564#A82"5,"#5D"58579&29D"5256482#482"5E4525&$
<N
$"D3C5 6!A,9+ 5 /25 ,"'$9A 5 2$E4 5 ! 5 3"&$, 5 " 5 2$2$"D3+ 5 847D 549 5 ,
48'54&$"5&4#"$+52599A564$!B25&5,A585$$4567FD"52B+82$52564&$2$5&5,9F 45749A54B725F4B9A3H5925$!$"9C525$458256!A32"585E47"49$F9A
&752582585&7587$"3F9A5MA&$9A54B,3$56452$E45!5&592
DEFA5867284545925,945567.&%A3.5$DE$456!A35I&$2$9A5.#"$5"9"5BC
C5346A7482$5BC56!A3C5K924&$52$E45!5.#58C#A$56!"5&24$9
A8F9A5&545EF%359B45925"&6,5*4$42627F$5(C34"85DED59D458C*4$"$
F56745$459,23+5.845(C#567274"%5*4$A5894%3253$7+5,56745956432
54E45A$5$99D"5A&$"$5E45925&$!5*4$472*"5E4$472*"5&5E289A54
$"85A&$9+5925&$!598C62F54D54B!5256!"$45&$2%A54$"8564&94$
4534&3 5 867284 5 %" 5 884 5 9'9A 5 *4$42627F$C 5 # 5 4 5 2$ 5 ! 5 8A 5 254E4
#"82$.5644D"585,E454&84,9A5479A57D2483C52,A585EF%356!&9
85B4DE567.&%A3.56!A35$84!ADADE5$!$"9C525$%3C59B453!A#3C53$759F
4E458+B479564&4#"$5M534623$9ADE5*4$42627F$.5,54#95&"585958CB72$
*93D"5674A$9$A5!A#3C5925"&6,54C$45$%3C59B45!A#32564&4#A5"56745349$
745E47"49$5253FD,ADADE5&5&8"&+DE5"9"A5F/**5@D<>5&5QDQ>H
!"53464948F9A54B725,5.#"$5BF$5"5925$4545,23E45*47F$54$"8
"&C, 5 /,6!"749,'A 5 *47F$ 5 674 5 "&3 5 8"9A 5 , 5 4B9A348+ 5 E4
7"49$F9A5*47F$5E4$472*48F9A5S925'A!3T5,5$C594E56!"749,'A52564E4
9,'A59#5*4$472*48F9A5S9258+'3T51ED"5.729"$5E47"49$F9A564ECB5.
#564#A$53$79A5E47"49$F9A5*47F$53$75&5!A3F5S6294722T54#A8F
&56!"5*4$472*48F9A58+E545372,"9C5F48.7%A5*4$472*"5@DDD5&5?D?<H
8 5 6!" 5 *4$472*48F9A 5 372,"9 5 8C#A8F 5 9A 5 92 5 $!$"9C 5 P289A 5 ADA
6783 5 , 5 E47"49$ 5 44B9+ 5 *3$ 5 9F 5 8C$8F!A 5 4! 5 A 5 4B4E2 5 844832 5 A DE49A359B45642E2525&$925256!A6259A3E45A&$9A5E47"49$5$C53C#
372,"9252BA7F5E7B25,95$!$"95*4$472*"5254B4E25BC$358C84F8F529F5*4$4
72*"564D"$54$8!94&$"51&45$456!A62C53C5DED5.729"$56783C53$75&54B
,8,A59254B459B4585E479A5%F&$"5&9A35435A&$A5E47"49$58C&434564
&3C$958AD54#94&$A5646!A5*4$472*"5!$C585646!A5.729A5E4B3
674&$4758'235-69+54!A9$A59B5BC54B725$72$"5674$"8FE5P47"49$5
<>
A&$"$5"5925&$!5*4$472*"5$458'2356.&4BA597%"$5674$4#5"8F3256!"$2E,A54B
6448"9C5&$,952599A5,2&95D45,5E289A54$"85/9A5$458'235'62$95643
$2348$45749A5$84!A5&C$7""5F48.7%A5*4$472*"5@DDD5&5?N?>H
864D%2
/**585&8539"574BA7F5&4845*4$472*"525$45#5B5&8$25BC5*4$472*"
9BC25E4$472*"5#5F5&8$4585&85,95,9F5&5452B5&8$5(2#+
*4$472*5BC55$58"$5&8$4599A525"55)"&35434589AF5&8$4 ,"92359#56!A&$74,525$45BCDE45&"5"584"$5F/**5@D<>5&5N?><H5:8$45$84
!A5 94E4 52,A28+DE5 *3$. 53$75 &56235 &$F82,A5"58"52,A28+5 4$"8
:8$45F5"56&CDE44"D3+58+92594B8C358C#"$A5&8$258C84F8F598C34
9F25E4$472*5BC55$589A2$5"9$9"$5&8$25$4525,5&8$45"9$9"89A 25$87 59B4 5746$+9525 33 54875&8$4 5658C37&,5 4B7C&C5 2529
DEF8F5$875%795&$A9C53#$45335&8$45658C37&A5D348+58E54B,3$
F48.7%A5*4$472*"5@DDD5&5B@5<DD<D<H
0E595&59A5&75&8$25"5,E45B27894&$5)"&354345$C$459C
4D5989AF52%5459"DE58A548'5&9A2%5*4$42627F$5,52929F58#C5299A
&8$4 5 4B&2E, 5 F4 5 47+DE 5 6267&3. 5 674$4 5 ,&4 5 &9A3C 5 64!A9 5 8 5 7299A
4&8$9A 5 2"$ 5 4729#48+ 5 &8$ 5 2 5 649A 5 &9D" 5 , 5 647 5 B2789E4
&4#9A 5 8C748929+ 5 !" 5 F62 5 &9D 5 .# 5 46$ 5 29292$ 5 DE8A"
&54729#48+5&8$525645F625&9D56!82#,A54756267&3C5E4$472*"
$C5 6.&4BA5DE29,'A5 4, 5/,6'A5 *4$472*"5B+82,A5 64!A95857299ADE 258%79ADE5E4"9FDE5F48.7%A5*4$472*"5@DDD5&5B?BGH
:24$95&8$45&5.#5&$F$54$"851&45432#"3C53C5&8$45674&$6
,ADA5723C58C$8F!A5&8$953#C59B45674$"&8$45.#5674&8A$"$5"&$C5&$74.
2589"3F5$2352,A28+54$"851235#5,&5&"5!3"54&$75&8$458C37&,5$827C5"
9"52587EF5$87+5&$A95423567F85"5&$A95.#5B+$592'A54$"8574$"&8$4592
6!A3256!"5F625&9D5.#59254B458C37&"$5&"$C5B4859B45&$74.
85962$79F5925A&$25435*4$472*,5.#585*4$472*""58C842$5722
$"D35*3$C 5 .#"$5 ,5 85,235&75 25 "9$9"$5462F5&8$4 59256!$
<?
:75&8$25.#5.729"$59B45924623564$2%"$58E56!$504%9A54&8$9A
464FEF535674&$47484&$"525925-3475$4E45&5$7FDA593$75"9*472D5K$7F$
6.&4B,5$87+ 5349$72&$5"54&8$9+"52594&8$9+"5%F&$"53$7F5"
9""58C$8F!A5DE24&5 245BC5&5!AD$5#574BA,A54B725!"5%9A54&8$9A5F5*4$4
72*574,5&8$2525FC5:$A9C53$756!$C587E2,A5,&45&37C$C5254B72,5&
8AD5$2".5/25-3475$2".5&58C$7FDA5674&$47484&$525*4$472*"56.&4BA564'951
$C58E495A$5&8$4525FC525A79588459B458672845F48.7%A5*4$472*"
@DDD5&5B@<D<H
12B
!" 5 *4$472*48F9A 5 64ECB 5 , 5 9,.#"$,'A 5 29292$ 5 87DE49+ 5 432#"3
,5435*4$472*,5&647$5,54B759F$5,E456728"2525$56!8A2$5D4 6!",5F5F48.7%A5*4$472*"5@DDD5&5<>?H
P"9'$585&856B"32DA58FA5#564ECB52929F5"&3543459952543F
#5&"5B#9+564ECB56!&$28"$51235254&$2$564ECB545964ECB"8E454B725$23 2BC5BC45,2&9545,23+564ECB5,525#5,5&3$%954564ECB5123529292$5*F"
64ECB 5 3$7F 5 8 5 "8F348" 5 8C84F8F 5 64D"$ 5 # 5 46728 5 6!",5 2'A 5 *F 5 64ECB
256235,E45349%9AU54ECB5BCDE45"52929F82$585,E4587DE495*F"54
47482$52929F564ECB5$235#564ECB,ADA5&54B,3$5,574229+525642A54&
$7544548'599A5$45D45DED5/,65&59F5642!A564ECB58C*4$472*482$
3C#56!A&$74,5346A7,564ECB56!$5:$4674D9$9A54&$74&$54B725252B&9
D5742F9A58C84F8F55"8F32564D"$5&$794&$"5 2'A54#94&$A5,52DEC$"$564
ECB,ADA5&54B,3$54&$!525642A57422954ECB,ADA5&56!$5"&C,
453464"D5$235#5F56!$58AD5849E45A&$2585&7564ECB5VA57CDE
,"5&54B,3$564ECB,5$A58$'A58F94&$585&7564ECB5F6!5&B4H54
4372,5F5FP"9'$5<BGD5&5<Q<NH
1)# B 6!D6CD B F66DF6C# B C#5 B 35!D5 B !67 B 3733 B "CA*A B !68 5'3&BDB"AB!6B5A7D"A BF/**5@D<>5&5;;H5479A5*4$42627F$C52,A54#94&$
&7"48E45 &9A29A 549$4 5*23$58'235 85 35+$ 5#5&7"485*4D9A5 2DEC$A5$9
&67F89+5722$"D3+5432#"3504E#5$45$23599A5856!&583594#&$8A5&9A
<G
3. 5 64!A9+DE 5 2 5 8$!"9 5 8F 5 4E 5 67F8 5 $9 5 &67F89+ 5 432#"3 5 6743494$
F/**5@D<>5&5<@>H
4ECB 5.#58C$8F!$5"52B&$723$9A5"9"59B45B27895'4EC515925*4$4
72*48"525,23+5-%564ECB5*4$A525D45DED529292$5 4B7+56!A325,
94%9A5*4$472*48F9A52$5925*7389$4829+DE5&"9"DADE5435B564#"$254EF
364"%9A54B25"A58'375$2"C52$525BC45645,,"DE5&8$95&$46C
44B95&5F5*4$"$54EO4&$74,59B45&8$9F53E"B"D56!"53$7523$!"5#49,A5&
&8$5745$2348+$45$C65*4D9A5,54B758C#A$5&$2$"85F48.7%A5*4$472*"5@DDD
&5<?D<?<5<B;H
12EDED
V4835,59,%2&$,'A5$2$53$75*4$472*,5C5#5,545*4$472*"
64!A95852$"759B4545&9A3C554FDAE45674&$!A5,5.#"$52BC5*4$4
72*48295BC458"$545$8F!5 F5BC55A$5F4567F9E45674&$47592
E284 5 25 5 BC5 &5 A82$ 5 4 5 4B72 5 44B95 ,234 5 5 64ECB 5 9DEF8F 5 8AD
849E45674&$47585&7564E5647$7$4829E454358'235,564E5647$7
$4829E458C8955674&$475*4$472*"5"8F35$23592B+8F54,5#55BC459D4 46!9452B,5&58595F,545$45925D45&54$C%9+52&"5A8F5/257E4
&$72956435&5647$7$4829+5A8F5454B,3$"85,5!,5#5456!A$494&$"5*4$4
72*2585258C$7FDA5&5$2354,5B674&$!94&$"5FP"9'$5<BGD5&5<NH
!" 5 647$7$48F9A 5 &" 5 &A 5 *4$472* 5 84"$ 5 DE2723$7 5 647$7$4829 5 4&4BC 2592$58E49+56.&4B5,E458C4B729A5 45*4$472*"5&54$"&395"52$4&*7256!"
*4$472*48F9A52E49+5-E56745*4$472*48F9A5,5858+'"54%A5958'2356!A45%9A
V9A564E5%2&$456.&4BA56!A"'5&C$7"D3C52598+72952E49,'A5,564E58
8+'"54%A5A7955B4357454B7+5647$7$5,5264$!BA5"54B7E45&8$25M5647$7$
E72,5.#"$4574"5642A5$45F8F5"8F348"564D"$5$'9E45,547$7$4829+59
&A5B+$5645,95.#5$45B+$52F5&36"925245&36"945,&45C'9"
23"F95$!"5"525&9258&$92$58AD5"A545*4$472*"5&5$7FDA5%"$94&$
$8F!A589"3F5DE24&525&59A5"5674&$4756745DECBC5.#5&56235&$F$5#5&5454B72
4&$29564&$2825&$4,ADA5FC535*4$472*48"543599A5,2&95%"$9+5.845674%5,
<;
4&4B25FC5&$F8F5&559A57'"8+567835435,5F752DEC$"$58'DE9C54&4BC
926!A3258'DE9C5&82$B%29C55&56728"45$!"5962$O,55$45674$45#54
$"85*4$472*48F9A5,564%$59F8'$89A3.59B456!A$49+DE5958'23532#+559"DE
5"5$235,54B!5$234845&36"959,235*47482$525A&$"$545674&$4753$7+
9284,529+5,5435,545&82$B585646!A5&36"9C5B5#9"DE5&598&$4
254&$2$9A5259""5F/**5@D<>5&5GD;QH
4C$45326"$4C54B&2E,A5"9*472D5454$"85F329ADE54B7248+DE5678DADE 25,,"DE58+92585*4$472*""5 F56235646"&,5,235,5&67F89534649482$54 4B725M6447O,A59258+92525.#"$4&$52$E45!525F59258+B75*47F$
453$7E4534649,525F875&92,A5&5*4$472*"D3+5#F97522$7&3
E45647$7$54C$45"9*472D5,&58C#"256!"5$847B5&8E45674725 ""$F9A5*4
$472*"56745&9"47C
#$FEF5DECD5F9%26C58C82E&
123411156789
25"94&$"534937$9585<B5&$4$A5BC525&$27E456482#48F95#5%$C!"D$"
$+5%483585@D5&$4$A5$45BC5%483562&F$"$+5F)29"75@DD?5&5@DQ@DNH
9&5,52564%F$%9A5E729"D"5&$F!A56482#48F95835?>5$58'235$9$45835&59F
7%"$5,2345&$7"3$9A51'$59F8945BC25674564%F$35&$F!A5F8F925E729"D5?D5$52
&5674#,ADA5&5345#"84$2525&58C',ADA5&58354DE4545695&
8+'"25"5,"#5"O4829F564%F$%9A5E729"D5&$F!A5925?>5$5FP2'348D48F5@D<D5&@D
@@H
9'9A5&64%94&$54B%2&52,AF592$"89A564&$4,535&$F!A52535&$27+5"
075&$F!A5,23454B4BA5-6235DEF$7F9A525$7F$C5%"994&$"5256!A94&56745&64%94&$
4456!"&6A8F5"5$7F$252E45&8#AE458E5K5$4E4$4564&$4,58CDEFA52"&
&= 51+6564B3%BC4D'743B63"$B593B!'35C$*3B6BB&66$BDB38
6 !3365AB5#'BDB!643C743B53B!6"3,6C# B6 # B3C3BD-B6!63
3 B 5D% B 9A3 BF2F9748F 5 @DDD 5 & 5 NNQH 5 /48 5 972D 5 $7FDA 5 6484A 45.#"$4&$"5&4#"$A58'DE5972DA525"94&$"5BC45947F9A5&4#"$A58AD59
72DA525&$2!A5%948574"9C59BC"5B7F9"5,234564!29,'A59B459D99A5745&8
<B
#"84$9A53'94&$"5BC"56482#48F9"5254!,'A5253'9,'A525BC45&$274&$A532#
74"9C5&545&85&$27'A56!A&'9A3C564&$272$5 9'9A5&4D"F9A5&$2$&5&$27+DE5"A5,
4&$596!A9"8+5 A3C52"&5&545&$27+DE5"A59"D594%3F8F54B,8,5&5&92E2 ,5"4482$525$45F5$235259F&357462574"99+DE582B525$7F$5#"84$9ADE 74A5F2F9748F5@DDD5&5NNQNNNH
25E72935,52$475349D6$5$85S46$""&5"94&$"T53$7+5&52B+8F
&3$%94&$A5#5&$27+5%4835,52!9545"94&$"50"29D,5925E7295#5#59
DED59"$5&8.,5#"84$52529"59.#5/DED529"52BC5&59"54349A5&8$5/25&8.,
#"84$5,58C3+525DA$A5&5859564&$2$9+5/&AA529"564D"$5#59C5B4
359%54B75&A5&58C74892$5&5&8+5#"84$5,23+5,51E45#"84$9A53
'94&$"5.&$F82,A5&4%F&$A5,E454&4B94&$"525$C5&59"$592,A5F2F9748F5@DDD
&5NN?H
:$F79$A5&59674,8,5645945&4D"F9AE4564&$289A5256!8'A
$&9+"525'89A"592"515&64&$252&63$.53$7548"8O,A5&$F!A525#"84$
85&$F!A58'2359F5&5!AD$5#5BC548"8O482C58'DE9C5,"9D5&$,95:$F79$A5,
5%F&$"5 9$"D3C5 6!7%94 5 532#E4 5 ,"923 5 2'A5 *23$475 &$F79$A5 ,5 D+
6!'+5#"84$5$A5,5C'945,23594D"54$C%9+56742585$&$8A59&67F89F
#"84$4&67F825"93"92D5359F8C348+5F$3F5F34!9A5234E4574CH59B459
6!"!9F5F$#52'DE9C5$C$458"8C5&5674,8A585&$F!A596!A9"8+56.&4B
44B95,5$45"5462%956!"57285#"84$4&67F8523$"89A5#"84$525&67F895A!
&$7&5.#5B+$5"5&$F!A5459D45382"$9,'A549$458+%$56432,5925$45#5&$F!A5,
472592'E456!DE4AE45#"84$25F)29"75@DD?5&5@DQH
2'A5D4535&$F!A562$!A5,&459C56&CDE"D35/3$75$C$459C5,&45B"4
4"D3C564A995$"5,5926!A325642,'A5$645858'DE54EDE5E47'A
2622$48F9A5&"58DA525,,"DE546$48958CB2848F9A5252'A5235$45,&459C58C
84295926!A3259,234594DA5F2F9748F5@DDD5&5N>DH
IB4BA5&$F!A5&5%2&$45A5459'ADE5%F&$A56456!&9E458352567FD"
859A5&$F!A5645WE62DE7251E45%99A5&5&E4,5&5%99A53$7
8FA5"5I97'348F5F@D<<H58539"5:$F!A525&C&5#"84$25645K28F248525P4
@D
748 5 WE62DE7 5 F 5 646"&, 5 532#E4 5 4B4BA 5 ,E4 5 &6D"*"32 5 2 5 4#9
674B485,8C
11./012B 9DB53A6'AB36 A743B!693 DADBDD!D"3BDB!3A66C#
C69&6B*D57BDACAB5333D9AD"34
11/052B5D'B53A6'AB3 $DBF7*BD65AB5!3"AFA"#B 3A"5#B!6938 DADBD!A"%B!($&B"&664
15/BDBC"3BC39 AB5D'B53A6'AB3DBC%D 7BD%C#B5936C#B56$5D*65A DBD3!3*365A45FWE62DE75@DDB5&5@<H
745&84567FD"5,&5&"58CB7225&36"952+DE5&9"47.5674$4#5$"5&564
5&92#A5&8.,5849+5%2&5$7F8"$5,'$523$"89592574A545&36"95&$27+DE5258"
&$27+DE5&9"47.52+5&9"47.5,'$599A5$4"358F9F54B253C5BC"5674
3$"89A525,'$5&"5$4"3596!"64'$,A5*23$5#5BC54E"5B+$59252945%"994&$56!A"'
&$2!A
D86C8973
WE62DE75I97F348F525)29"75&5&E4,A5#54B4BA5&$F!A5&5&B456!"
9F'A5934"3595:56!"B+82,ADA5835,5$45-BC$35*C"D35256&CDE"D35&AC 252$94&$"58C',5&58+&3C$594DA525$C$459C56!"749546748FA5"59C
&4D"F9A57F85*C"D359C5BA5&$72DE5,"#585649A54&64&$"53C5&593$7
59"DE52%9454B,8482$5I8'5,,"DE5-6956!"6'$9A56!"DEFA52#5&54&2#9A
&9"47&3E4583519F5&545E47'9A5&DE572356!"DEFA564ECB48F549A 2585964&9A5!25"59C58E5/58'DE9C5$C$459C584535643&
672D489ADE58+349.5254,A5"54#94&$"5E494$958C#A82$5849+5%2&5&9"47.
357232D"5926!A325%$B539"E59B4564&DE5EBC54C$459C562356!"749
84 5 3 5 E47'9A 5 349"32D 5 & 5 ,"9+" 5 "" 5 2 5 $C 5 " 5 3 5 -34&$" 5 2 5 9,"&$4$
FWE62DE75@DDB5&5@@@?X5I97F348F5@D<@5&5QGNDX5)29"75@DD?5&5@D@
@DGH
2345945,5E47'9A562$"5K2$AD45F#"$3C5253'94&$"554B5"
9+DE5,&458562$"56895DE48F9C5F4&$"525"9*472D59485#58562$"59
@<
.&$F82,A534$89C5$235&"9593C58.BD5745&$27E45%48325,&45864A93C592
$453+5BC525D4543F25322$564"$"89A52%585,"&$+DE5432#"DADE56A592
"94&$"52#56!A"'5:5$A5.#5B+$5&64,48F945"54A$F9A5948E4525964DE469A54
2'ADE5F)29"75@DD?5&5@DNH
I8'5&$F!A5&5&B4596!"9F'A5645-623C5&DE4694&$A58A"545
'89ADE5&DE4694&$DE525"9$"9D"55BC56743FF95462354"',A5&58532
$47"5"9$"9D5A5*"9A52537C&$2"D3F5!",AF9A525672D48F9A5"9*472DA52,"'
C,5"9$"9D5*"9A5$2564EF5&$F79$A58"D5B7C5(#$45"9$"9D537C&$2
"D3F53$7F5467,5&56492$3C5253'94&$"5.&$F8F54E45*93%9A525.#5&
,'$5748A,$5FY7&&5@DDB5&5<@<QH
Z"84$5&$27E45%48325BC5&525A3C58'5$$459F5492%"$5,2345,"&$
6429A 5 !" 5 6748F9+DE 5 %"994&$DE 5 , 5 674 5 &9"472 5 .#"$F 5 462$794&$
256!&94&$5&5$A$45,85&5.#5&$32$53C#56!DEFA5"D"59B453C#59D4 EF5FWE62DE75@DDB5&5@>@?H
[4%9A5674#A8F9A5$235674DEFA592"589$9"$254DA5&5&9"#,5D"$48
674#A8F9A 5 B+8F 5 94E 5 %2&$," 5 B674&$!9A 5 2 5 6!" 5 !'9A 5 94E+DE 5 &"$2DA
43F#A5&9"4!"582#482$5&58$'A53"52572D"492"$45256'A56!A625$458
35$76"84&$"548'593C5"5359F,5K6785&54B,8,592%9F564$!B25&B
72"2D 5 2 5 64$!B2 5 B+$ 5 #"$%9+ 5 .&$2$ 5 23%9A 5 D4# 5 ,&4 5 64$!BC5 ,'$ 5 5 649A
4&64&$"5252'A5*F"5#5$4"3597"&$7,A5F4&$"585434A5252!,A5&5925&B
25&85 674BC 5926!A32 592795&,A59C57284$9AE4 5&$28 5D4#5 -&$A 85EC64DE497"" 5 4A 5 & 5 2%A92,A 5 82482$ 5 7E+ 5 " 5 F)29"7 5 @DD?
&5@DG@D;H
9D89A689C5FA
V483545%48325&5"'A525$235,5$45"5&5&9"47C5/.#58'DE9C5DEF62$
&$,9 5 (2#+ 5 &" 5 8 5 #"84$ 5 674' 5 ,"9+" 5 #"84$9A" 5 3'94&$" 5 9F82 5 ,"9
E494$C5255,"95DA5:9"4!"5&5854B4BA5&$F!A5&A59&$F58C7489F82$5&
92" 5 2 5 674BC 5 3$7+DE 5 , 5 &56!"B+82,ADA 5 83 5 8AD 5 I8' 5 $4 5 ,&4
674BC5&5,,"DE#5!'9A5,"5"953'94&$"59644E4525&A5$C5E2$
@@
948 5 6.&4BC 54C5 94EC 5 B+82,A 5 F4 5 -%9 5 F2F9748F 5 @DDD 5 & 5 QDNQD>H
1+5#"84$5%4835EF5&C&582&$9AE45#"84$25495&58'2359A55959259
5E4"9C5925E4"95&532#4594%3F82945&"$2DA5%5&5&C&592'E45#"84$2
9A596!&$F8F5E45E2$525,A$5259A5"5BCDE459ADA5&5&"$2D5B7F$
,2345,"9%952594623482$95 F82,A59F5'29D"584"$5948+5DA52564372%482$
$235F5"5&5$A5D45#5,&543F2"515$C5264$!BA5926O482$525&6434,482$
#"84$9A5 3"&$9D" 5 8A7 5 8 5 &B5 25922$ 5 948 5 #"84$9A5 DA5 "5 8 5 &$F!A 5 F(8$48F
@DD;5&5Q;H55%5EF9A5E494$525&C&548"8O,A5%2&48F549A5B4DA5$7F
$C525B+8F9A54#94&$A5929A5948E45&C&595BC5&5&$27+5%4835D&$C52
&C&5#"84$258F$55BC5,9564DE46"$5D45,5264$!BA5D45,5467285.#"
$5$'"$5&55$4E45D455.&$245256!",A2$599"$95:9"475#599A52
!9+59258+349525.#5&"5484"$572"482$5&854&5992699564$!BC5252$
$45D45E452,AF51"&$F5&$292D592564%F$35&$F!A5.#5B+$5674,859,"&$4$C5,23
#A$5F5F2F9748F5@DDD5&5QDQQD>H
12321115ABCDE
I$F325 9A 5 34 5 ,5 &9"47U 5 [3"&$,5 9,23F5 89A 5 "&D"6A925 2B+82,ADA5 &
8F8F9A5&9"47.U5154#958.BD5$$45&36"958F82$U55,23+56.&4
BU 5 /2 5 $C$4 5 4$F3C 5 929$ 5 4648" 5 8 5 9F&,ADADE 5 4&$28DADE 54C$4 5 64
92$3C5,&54EO48225"56!"5$847B5&8E4567472
/C9A5%2&$4564#A829+564,5&9"4759B45$235749$<53$7+5492%,54B%2
9C564BA72,ADA5&$274B9A5.DE45&564#A8F5457E56448"9C5"9E45&$4$A5 !A
85&58'23564#A8225"5,"9F5492%9A5926!A32 515D'3DBDB5D'3"58574"99
492%9A51DA*DBDB$3*35FP2'348D48F5@D<D5&5@<5129"'55"95I97F348F
2,5@D<@5&5<@H525&4%2&94&$"5,&459287E48F925492%9A5,234517E3$4E59B4 1C$6C$B!66*A9%B6*D5745%&3+5,2C35B59,,94''A5492%482$5&9"472
2515DE&6B6*DD5FP2'348D48F5@D<D5&5@D@@H5745&84567FD"5,&5&"584"2
$7A95&9"4753$7+564#A8F585BC5%F&$"5$3$
< CF55A55!D3E457495\5&$2!D5FP2'348D48F5@D<D5&@<H
@Q
K5&4D"F9AE45E"&325,525&$27E456482#48F95$953454&FE5835&59F
74359254DE4545&$274B9AE45.DE4525$4$454B4BA56!"DEFA5925&4D"
F9ADE574A5$546748FA5"5%F&$%9F59259F8C3.5F,2345DE49A5452&$9F9AH
925#"84$9AE45&$C525948+56.&4B5$7F89A5%2&5585964&9A5!25$235
9253494"D3E45&$2$&5FWE62DE75@DDB5&5<BH
/,4B,3$"89,'A5*23$4756745492%9A5934E45,2345&9"4725&5F5BC$
329F!9A583515&929458C"$9+52599A548"8O48F95&DE4694&$"5%4832
#"84$9A5&$C529"5&4D"F9A"592"5FI97'348F5@D<<5&5<?H5129"'55DE2
723$7",5 &9"472 5 ,234 516567 B 3# B 65#&9D B ./ B D B C"3 B 93 BFI97F348F 5 2,
@D<@5&5<NH
()34%76789C82E&
2 5 326"$4 5 4 5 8F8F9A 5 &9"47. 5 & 5 9,678 5 2!A 5 92 5 89A 5 4B47 5
749$2624"3525646A'"58+925$$45624"D35"&D"6A9C56745DA4845&36"9
&9"47. 5 F 5 8 5 &6D"*"32 5 8F8F9A 5 3$7F 5 & 5 8$2E,A 5 3 5 *C"D3+5 2 5 6&C
DE"D3+5 9F5 8 5 4B4BA 5 &$F!A 525,9 5 326"$45 &5 B 5 89482$ 5 $23 5 64#2
283.59253$47253$758C#2,58F8F9A5&9"47.52585F875326"$4C5&52
!A5925749$4"23$"35K585$4C584956745&8.,5674725 F
623 5 928F#" 5 92 5 $47"" 5 3'94&$9AE4 5 %9A 5 5 5 (4B2 5 3$7 5 ,& 5 64#"2 8567472
1F34111AEDB6ADC
9'9A54B25#56!3492256!&$285458+DE485258F8F9A5645854B4BA
$&$8A525FA525&4%2&94&$"5#59F&58+DE4825258F8F9A56748FA5D+5#"84
$57F8532DA5&9"47.5&52B+8F5624"D3F5"&D"6A925829F5749$262
4"32 542$4 5 "&D"6A925 ,5 8D3 5 24 5 84 5 3$7F 5 2%225 64&$695 89"32$
258C%O482$5&5529724"3C5425&52B+8F58F8F9A5258+DE48454&6+DE5A ,9F5&54585&6D"*"D34567452945*F"5#"84$25FI97F348F5@D<@5&5QQQN
P2'348D48F5@D<D5&5@D<@D@H
@N
WE62DE7564#A8F567458F8F9A5258+DE485&9"47.564,5749$462
4"32525$9$4564,5,'$5*"9,585#'A525'"7'A5&4825&C&525#'A5&482
&C&5E484!A5458+DE485258F8F9A585'"7'A5&4825&C&5646"&,5"&D"6A9
,23456%"525644D535&6434,9A564$!B5&9"4725/,9F5&5456%"532!&3452
.#5,A$5"54564$!BC53$75&58F8F9A592,A59"D5&64%9E45WE62DE75F
646"&,5#5,54#9585$4$45'"7'A564,$A5"&D"6A95DEF62$5,234 51 79A668
6C67B65$4E458'2354DEFA535F875#5&5#59,9F54532D"5FWE62DE7
@DDB5&5<D<@H
1793 B 53A65&6 B C$9#C# B 43 B 5 597!9$ B 79AC6CD B *D5 B 5#67""&
5FP2'348D48F5@D<D5&5<@BH5P289A"5DA"532%9ADE523$"8"$5,57#9A5$
&9+DE525"9$3$F9ADE5&"5F]7F35@DDB5&5<;BH52F8F9A5&9"47.599A564
452'A54B47958F8F9A52569A5$235&64&$52'ADE5.#"$+DE5*93DA
25$45*93D56789$"89A57E2B""$2%9A564&"482DA525349"32%9A54C548"8O,
382"$5#"84$2585&$F!A59264FEF5357#9A5257484,"5'89ADE5&"564647,5F
,545382"$54B&2E5849E45%2&52585964&9A5!25&9"475.&$F8F585349$23$
& 5 &64%94&$A 5 2 5 & 5 87&$89A3C 5 (49$23$ 5 & 5 434A 5 9264FEF 5 &9"4748" 5 64DE46"$
9'9A57CDE5&59ADA54B525$A5#56474A59'35&9F56474A5"5&8+
BA3+53$75$2$454B258CDE48F8F5FP2'348D48F5@D<D5&5<@BH
2564&$2$5"585&$F!A5,&456!82#,ADA"564$!B2"5E289A564$!BC554B4BA
4&64&$" 5 2 5 $4 5 64$!B2 5 B+$ 5 23$"89A 5 2 5 #"$%9+ 5 /2F 5 DE$,A 5 &9"4!" 5 .&$2$
&4B&$2%9+"5259F8"&+"58574E448F9A51E$,A52DE482$5&845.&$4,94&$5259
&$F$5&56745434A59D99+"5K.&$F8F5"564$!B25&B72"2D525$45858DDE
53$7+DE59BC254#94&$5854B4BA56743$"89AE45835F]7F35@DDB5&5<BQ<BNH
!"58F8F9A5&9"47.5,5$!B25A$592562$"5,E45&6D"*"325256789A5!25,
$45,,"DE56&CDE"D3+525*C"D3+5&$285!&$4#5*C"D3F58+34994&$564&$65$53&F
'89A58+34994&$5.#54349D5927.&$2$5 2'A5*23$53$7+5,564$!B254
E9"$5,5%2&564$!B9+567454&84,9A5948+DE5"9*472DA5M5&9"47.5,5$45E7B2 45<D@D 5 R 5 %2& 5 928AD 5 F]7F3 5 @DDB 5 & 5 <;B<B<H 5 49$4 5 *23$ 5 , 5 F9 5 &$F79$A
*"9A5"9$"9D53$7F5,5.#"$F56!"5%9A519F5&5457CDE4&$5256!94&5"9*47
@>
2DA56!"5,,"DE56!",AF9A525672D48F8F9A574$45,56745&9"47C54B$A#9,'A57CDE5&
92%"$59485FY7&&5@DDB5&5<@<QH
^748O 5 '89A 5 2$94&$" 5 F8"&A 5 " 5 92 5 "9$9"$ 5 "9$3$F9ADE 5 23$"8"$ 5 !"
6728"9 5 $7948F9A 5 64F8F 5 ,"9D 5 6'A 5 8+&3C 52 5 462%9 5 6!A62 5 8+
34994&$562F5(82"$52594#&$8A592%9E458+72954,58C&43F57CDE4&$
679$48F9A5F$3C52594"D3C5&$73$748295"9*472D5M52'ADE54&4B5,54B7
"5674D8"%48F9A592%9E452!2"$5'A56!&$F8355&9"47.5,5$45462%951
64$!B25 "9$9"89,'A5 674D8"%48F9A 52BC594'4 5 35 E47'48F9A58+349. 5/"
BCDE45464A,$5&A54$"82D567458F8F9A5F]7F35@DDB5&5<;B<B<H5Y7&&
8FA5#535&67F895*948F9A564$!B,5$4594E58AD54348523$"8"$C
123456!A3258FA5&"$2D"53C5&$27'A5"5,45$7282,A525648A2,A5&"5(C#5&
$7282,52%959B6%954$!F&2$5252%945A$54B28C55$7F$C5748948FEC56!
&$29458"$52'DE9C5*C"D358+349C5&"5$C5#F2,A594E58AD5'89A564
4794&$"5/9A5.#"$5$79482$564543525$2357#482$5&5854B75$&9
349"D"5258+&3562359253447"92D"525$&9523$"8"$C564$!B,5&9"4759
'89A523$"8"$C5456235.#58C#A$56745,"95-%C5FY7&&5@DDB5&<?<GH5:8
$879A 5 643FF 5 4648A 5 92 5 4$F3 5 2 5 , 5 #"$%9 5 8 5 &$F!" 5 '$"$ 5 3!A#483C=
186B!6 #&#B6B8B34 DB!67B!'A6 B564 3BDB&9DC$BDB!6&743 3B6&D8 DBD&67BDB69(B* -B743 3BC3A#9BDB&6A6#9B7-3B6C6C#&
FY7&&5@DDB5&5<GH
1F32111A6DE11DBDD1AD11E7C1A1ABCDE
)3$4753$7+5B5672D482$5&5&9"47C5BC55"&649482$5F329A"53
$47&3+"54894&$"5256789A5!25BC55A$59,95924&$"554B475853$7
DED5-%2&$9A3C58F82$525$235924&$"5253'94&$"5&5624"D3+"525"23
$"D3+"56.&4BC56!A&$65358495&36"952556!A625,5-%2&$9A35&
9"47525674$45"5$2$45326"$425B545&6D"*"3FDE53$4725672D,ADAE45&5&9"47C
IBD9567453$47C562$A5#5BC5$45"5B+$5"54B479A525382"*"34829A5"&
37$9A 5 35-%2&$9A3. 5 &64E"8A 5 2 5 84!"A 5 " 5 BC 5 7&63$482$ 5 9F47 5 7EE4 2535$4562$!A5"57&63$48F9A5854B2&$"59FB4#9&$8A525&4D"F9A5%"5*"929%9A5&"$2D
@?
2'A5.#"$45&DE4694&$A567453$4725,57CDE525&67F8952622$48F9A5&"5,9 -%2&$9A3.525&DE4694&$5672D482$5&54D"5)3$475BC55B+$5925&8.,58+&$654B
!56!"6728951E458C,2!48F9A5BC545B+$5,2&95255BC52$5$45D45DED52BC
2"5-%2&$9AD"525B+$5,"5847525964&9A5!25,5.#"$+5"58E53$472
4E495BC5956!5-%2&$9A3C56!&$46"$5967289+59B4598E4954B
%9+5$458'5'34A5KF748O5BC55$2354E294$5D45&"54B394$5856!A62
'349A5292#7.5BC59BC454B756!",A$585$7"%35&564$"&354BAB95326C5#A
9FDE 525$9"&3FDE 5 258 5462%956!A6259259,23+ 5F#"$348+ 5 5473&E46 58 54B3
FA348F5@D<Q5&5<;@DH
:9"475#5,5%4835&5,"&$45#"84$9A53'94&$A525,567459,5.#"$52BC53
$475BC59,95829+5854B475252BC55$2358'4BD95924&$"5145B+8F5&
9"47C5E4958C8"E48F945,5#5BC53$47558"$592E2&525B+$5E49+5/9A ,2&95D456!&95,5C'945&48C5SB+$5E49+T525&9"4!"58A5#5&$F794525#
,"59,569"$5-34C5,2345!A85(C#5#5&54E42,A5359,2352'A58
F8F9A5858C''A5835$235,5$45E4954B"852564647C5445BC5&"5584"$
"53$475!"567FD"5&5&9"47C5,5.#"$F5$76"84&$5462348F9A525$23562$"5FI9
7F348F5@D<@5&5NDN<H
K5$DE9"D3+DE58DA53$75BC553$475672D,ADA5&5&9"47C52,"&$"$5,5.
#"$+5,925ED54&$69+525BB27"748+56!A&$65925A&$4534929A5A&$94&$
35&523D54E7F8F5BC525B+$54&$2$%954&8$9F5/A3F5"9$9"$25&8$2
.#5-%2&$9A3C5&6F82$5258C&43F52&54&O482$5435F5358+3256!"672894
645764"9$484 5 679$2D" 5 5 BC 5 3$47 5 BF$ 5 92 5 4&$2$%94 5 8"34&$ 5 $3$
2535$45,'$592&$28"$5&8$45$2352BC5&"5-%2&$9AD"54E"526"&482$564&$!EC52
6!&$45BC25679$2D5%"$9F52"34&$5$3$5BC525B+$54E9925"585$"'$9+DE
$3$DE5252'ADE564.D3FDE5F]7F35@DDB5&5<BN<B?H
1235#5BC45!%945E2&48+5674,853$4725BC55B+$5!$9+5&54B74527
$"32DA525&67F89+5$65)3$475BC5&5858+32558C827482$564#A8F9A
&29 5 2 5 6!A"'9E4 5 8C#A8F9A 5 29"D3+DE 5 $7A9. 5 423 5 BC 5 9 5 8C#A82$
6!&6!A"'54B479E45,2C325(C#5#5B59$9564#A$54B479+58+7255BC
@G
B+$56!4#9525&74"$958C&8$95445#5&9"47529+5$7A959DEF65,'$
9929F5#5,5948$"69+5E6F35"53C#5$45$23593$!A53$4!"54E4589A2$
FI97F348F5@D<<5&5N@NQH543479F5F@D<DH585&8539"58C&8$,564,5S
7623T53$7+56474B9,"5646"&,5349"32D"5&5&9"47C57457&6235,5DE2
723$7"&$"D356429A5$625!%"58+'9+5$_95E2&58+729F5"9$492D5%$9,'A 462348F9A525,94''A5&$28B258$542$45349"32D5&5F5B+$5-&6'9F5674$4#
&56!"6.&4B,5349"32%9A5&DE4694&$5&9"472525$9$456!A&$656235.#
A$5259F&35"5$45#5&"5&9"47584,5&9"#48F9A5&8+DE5&DE4694&$A5543
8'235B54E995*23$5#5&9"47564$!B,58AD5%2&5925723D"599A59$9534
9"32D"54BDO482$525E%482$5F43479F5@D<D5&5?@?NH
1F3F111AEDB6DC6C
:9"4!"5 &5 67"F795 8F82,A5 85 8DDE 5 82&$9AE4 5 F, 5 .#4 5 $4 5B+$
4$F3C54E9567F89ADE5-349.5728E45#"84$9AE45&$C59B45$454E45B+$5F
,C5&E495&5,,"DE54&2#9+58F9A59B459&6995&9C55FA5)3$475BC
5B+$592+5852954B47525&DE469+5F$5&67F8945*4745&9"4748"5925,E4 4$F3C54648"59B45564&3C$94$5"9*472D53$75E452,A2,A55
32C
!"58F8F9A5&9"47.5,5.#"$57%"$5238F$9A5DA52534937$95&"$5,23 ,"DE5F5B+$54&2#9451+5#"84$5&"57%,5DA53$7+DE5DED54&FE94$52
8F8F9A 5 ,&4 5 DA 5 3A%48+ 5 *23$47 5 2B,A 5 8 5 -%2&$9ADADE 5 4$"82D" 5 674 67489A529+DE5-34.5&7O,A5,525!AA54359F5DA5.#5359"
&!482$5252B+82$5&5,,"DE54&2#9A5K25BC45DA.54&2#945,"&$A56$94
7*3A5F]62$9348F5:3248F5@D<>5&5<<;H
C5D
"23$"D35$4C5,&458C%482DA5%"994&$"58CB72953$4753$75,&452
!959254&2#9A5&$29489+DE5DA.5M7%,A5D&$5,23535DA.54,A$5(2#5%"84
&"5#FF58+B75,"95$4C54235&A5B7F$54E5925%B9A54#94&$"5&9"47.
F]62$9348F5:3248F5@D<>5&5<@>H5745&8.,5674725,&584"25$4C=
@;
8C&8$48F9A567FD5&5$3$5C'9348F5262574E48475E7C59F47953F3C 2582&$9A53'94&$
256789ADE58453DADE53C5674BAE22567FD5&564%A$2%525856F$525'&$
3D"53C5674BAE22567FD5&5674725925-67285*4$472*"A5,&564#"25$4
8C&8$48F9A5259F47953F3C5,2356!&9564&$6482$56!"529+DE54672DADE5 B22 ,&5925&74"$94&$525&929452622$482$94&$5"9*472DA52CE+B225,&5&
$DE9"D3+5$7A9.525&2953$7+5&5854B2&$"567FD5&564%A$2%58C&3C$,
4$45$45,&5F567464,"25&5672DA5&5$3$567456'A547"9$2D"564DE469A 6&29+DE564&$6.5K4623482"5,&5&$,9+5-345,23456!"59F47953FD548'5#
,95&56&29+564&$6585&37"6$DE
7FD"5&5$3$5,&58C#A8225$!5645D454B5375745-%2&$9A3C ,&5256!"67289F5&37"6$25853$7+DE5BCC5$2"95646&F9C564&$6C567FD592 64%A$2%"52567FD5&5674725K4975E4$45&$"45<Q5E754$45$45,&584
"255.845#532#+55-%2&$9A3.5BC5925,"95-7489"5D45&5$+%567FD5&564%A$2
%5:37"6$25-%2&$9AD"54B7#"5,"#59256789A53D"52BC5"5%2&5&"5,56!%A&$52547"
9$482$5&5859"DE54A5,&54E9"2574A95$645%9A532#E455-%2&$9A3.
^%2&$9"D"5"5&37"6$2535"&64"D"58567.BE53DA52BC5459"DE54E"53C34"8592
E94$5:6&F9A5&37"6$56482#,"5258"54B7+59F625,"34#5,,"DE58+925674 3756745-%2&$9A3C5254567FD"5BC54B748&3+5^%2&$9AD"54E"5672D482$5&24
&$2$9525,F5&54E2589482$5644748F9A59B4564FEF9A5$53$!A5"59,23+
674B
C'9348F 5 262 5 &4#A 5 3 5 &64!FF9A 5 "9*472DA 5 2 5 8C$84!9A 5 &$73$7C
2567472 5 ,& 5 ," 5 64#"2 5 674 5 849A 5 &" 5 6748F294&$" 5 " 5 6783C 2582&$94&$"5*4$472*"546785BC258C#"$25857E53D"53$7F5BC25925$2
4$"85:52645,&56235672D482"5"5852'ADE53DADE53C5,&59259"546"&482"
948 5 A&329 5 "9*472D 5 2# 5 ,& 5 $84!"" 5 &46"& 5 934"32 5 .#"$+DE 5 B4.
256728"567454B745*4$472*""
25679$2DADE535,&5&9"47C5&9248225&54B7248+"56783C525,,"DE 8C#A8F9A5,&5925349D"58#C5825934"35*4$472*"D3+DE53F35853$7+DE
@B
&54B,84825674BA729+567835^%2&$9AD"5"525-345E2$54B724856783C525.
849"$5674%52&"5BCC564#"$C523+574,5"9&6"72D53F35"535"&64"D"58549"
95 *4$427""5 K49722 5 &5 3$74 5 ,& 5 $235 672D482" 5 123 5 8FA5 8 5 "&3&"
64E 5 674A$F9A 5 3F3 5 & 5 93F24 5 ,234 5 9,8E49,'A 5 2AD 5 -%9 5 BC 5 BCC
$"'$953F3C
1+ 5 67472 5 BC 5 64&$289 5 6!8F#9 5 92 5 82&$9A 5 3'94&$" 5 ^%2&$9AD"
9,6785*4$472*482"5645&854&2829A53'94&$"525924&$"54678564$45&
48"5,235,5$45&67F895/25F3259485A&329+DE5"9*472DA5*4$472*482"
4B,3$59485#5&58C#"$A54&84,9+DE5F&25435-%2&$9A35*4$472*48F9A58F
254&$25&4#"$,'A5-34
79AD
!"58F8F9A5&9"47.5,5.#"$547#482$5"23$"D35F&2C58F829
&36"9C 5 3$7 5 7&63$,A5 6&CDE4&4D"F9A5 64$!BC5 &9"47. 5 25 64#2283C5 925 ,,"DE 8F8F9A5(8$48F525 2B248F585&8539"58F,A593$75F&2C56!"58
F8F9A5&9"47.5(2#+5&9"47564$!B,582&$9A5$64525F582&$9A56.&4B5674564
DE469A5948E454$!B,5A$56!E95&$73$748295"9*472D515264$!BA
%"84 5 74"$ 5 4 5 934"32 5 9'ADE 5 %F&$A 5 :$2!A 5 " 5 98F2,A 5 6!",4$ 5 6!A"'
94E45"9*472DA592,945!"5674D8"%48F9A5948+DE5-34.5,5$!B253743C5462
3482$5:9"475BC55-34C534'$5&F52BC5&5492%"5DECB482$546"&564&$6
35&699A5-345BC55BC$5,2&9+525,E45%F&$"5BC5925&B5C54"D3C59282482$
I62348F9A5-34.5,59$9599A58'23592A&$59$"$5&9"4725&5%"$59D459262C
:9"475BC558$5674%59D45F52535%5$458515.#"$54D9"$5&92E
25672D48"$4&$5674$4#564D"$5-&6'94&$"54$"8,5352'A567FD"5F(8$48F5@DD;
&5>>H
1274&28 5 #A3 5 85 &85 39" 5 ,'$ 5 "O,5 F&2 5 627$97&3E4 5 6!A&$6
3C53$47596!"&$6,535-%2&$9A3.5,234535992+525&6A'5,234535&64$8.7
D.5&63$,5,,"DE59F47C52564&$4,564356!",45&2"5&59,2345"9*472DA 35$2$54E45925$4$45F325748"94$5"&3"5&54&$2$9A"54A5623585&3
6"9589"3F564"$"89A52$4&*7253$7F564647,5*3$"8"$5%9A5KF&22596!$7
QD
#"$56$9582BC5,5322$567.BE525*3$"8"$C5674D&5/9A5925A&$5$$45F
&2564DO482$5K6$94582B5964F8F56453$475-%2&$9A3.5)3$475BC
5B+$5&DE469589A2$56$94582B5925&84567FD"55723DA5-%2&$9A3.5 F5
#A3 5 .72O, 5 4672$"894&$ 5 3$472 5 7CDE4&$ 5 ,E4 5 723DA 5 92 5 23$F9A 5 674B
/9$"$5&9"47C52$58D"553$7+DE5&"598!A525$23599$"$5,52$58D"53$75,"
96!"9F',A5724&$5259287E94$5,"523$"8"$53$7F5,546$54&$2954523D5:9"47
&58F8F5582&$9A5"9"D"2$"8C525F,564359B56747252,A28+58$"69+
64$28+525E728+5$2353&F54$"82D567452'A567FD"5F#A35@D<<5&5G?GG5;DH KF&22 5 9F4794&$" 5 62$!A 5 3 5 F32. 5 "23$"D3+DE 5 674D&. 5 :A2 5 2622
$48F9A5&"5"9*472DA5&547F#A545$4E45,2345D&$45&5359F5"9*472D54&$22=
19:B;B5AB!D D743 3BB6&6B"6B59E 3 19/B;B5AB!D D743 3BB6&6B"6BCA 3
1<:B;B53B!D D743 3BB6&6B"6B567*D5$BCA 3BDB59E 3 12:B;B5AB!D D743 3BB6&6B6B*3 BA57743 3
15:B;B5AB!D D743 3BB6&6B"6B!' 6BD-A43 3BDB$9# 3
1=:B ;B 5AB !D D743 3 B B 6&6 B"6 B 53 B!667E 3 B D7*A B 7& B393C36C#
>9DD96C#B<::5B5B?.4
KF&259F4794&$"5,&525925C&"56!"5$847B5674725"56!"5,E4572"2
D"5M564&9A5F&2C5$4E45D45&56434'A592%"$57E5,&5&5BF25F&252
!2"$59B458C#2482$545-%2&$9A3.5&54B2845#59B523D6$48F92574$45,&
BC256!A,956!38269253C#58567.BE53756!"'255&$729C5-%2&$9A3.5D2
&649$F995^%2&$9AD"5&"5&2"52%2"5"5&5&B4564FE2$5258C$84!""5672D489A
84,"D549$456492$35&5"567464,"5&5$879A52F974853$7F585&8539"
8FA5#5,56745&9"47C5.#"$F564$!B25&$"2D54C52BC5BCC523$"8"$C5&C&
6952564&3C$482C5649$C5238F$9A5926O48F9A5&9"4725:9"475F564$!B
B+$523$"89A525$45BC5C52,"&$"$58E495%"994&$"53$75B5&9"4758C349F82$
25B5&"5F748O56!"5,,"DE5699A56!"622$5#"$%9+5 .#"$5,52BC5&5&9"47
Q<