SERVICE AND REPAIR MANUAL
4 STROKE ENGINE
PDF processed with CutePDF evaluation edition www.CutePDF.com
5BCMFPG$POUFOUT
$IBQUFS
5PQJD
1BHF
$)"15&3
*OUSPEVDUJPO
$)"15&3
#PEZ$PWFSBOE&YIBVTU4ZTUFN
$)"15&3
4DIFEVMFE.BJOUFOBODF
$)"15&3
-VCSJDBUJOH4ZTUFN
$)"15&3
'VFM4ZTUFN
$)"15&3
&OHJOF3FNPWBMBOE*OTUBMMBUJPO
$)"15&3
$ZMJOEFS)FBE7BMWF
$)"15&3
$ZMJOEFSBOE1JTUPO
$)"15&3
%SJWJOH#FMU%FWJDF5IF4UBSUJOH-FWFS
$)"15&3
5IF'JOBM5SBOTNJTTJPO"TTFNCMZ
$)"15&3
5IF$SBOLDBTFBOEUIF$SBOLTIBGU
$)"15&3
5IF'SPOU8IFFM
'SPOU#SBLF
'SPOU#VGGFSBOEUIF'SPOU'PSL
$)"15&3
5IF3FBS8IFFM
UIF3FBS#SBLF3FBS4IPDL
$)"15&3
5IF#BUUFSZBOEUIF$IBSHJOH4ZTUFN
$)"15&3
*HOJUJPO4ZTUFN
$)"15&3
4UBSUFS4ZTUFN
$)"15&3
.FUFST
4XJUDIFTBOE-JHIUJOH4ZTUFN
*/%&9
(FOFSBM*OGPSNBUJPO
5PQJD
1BHF
&OHJOFBOE'SBNF/VNCFS1PTJUJPOT
1SPEVDU4QFDJmDBUJPOT
BOE5FDIOJDBM%BUB
5FDIOJDBM5JQT
5PSRVF4FUUJOHT
5PQJD
1BHF
5PPMT
0JMBOE(SFBTF4VQQMZ$IBSU
$POUSPM$BCMFTBOE8JSJOH%JBHSBN
'BJMVSF%JBHOPTUJDT
-PDBUJPOGPS&OHJOF/VNCFS'SBNF/VNCFS
'3".&/6.#&3$65104*5*0/
&/(*/&/6.#&3$65104*5*0/
(FOFSBM*OGPSNBUJPO
1SPEVDU4QFDJmDBUJPOTBOE5FDIOJDBM%BUB
4DPPUFS.PEFM
JL50QT-18
1PXFS
)1!31.
JL50QT-X1/8
5PSRVF
GUMCT!31.
JL50QT-14
*OUBLFUJNJOH
#5%$"5%$
-FOHUI
NN JODIFT
&YIBVTUUJNJOH
##%$#5%$
7BMWFMBTI
NN
8JEUI
NN JODIFT
)FJHIU
NN JODIFT
*EMFTQFFE
31.
8IFFMCBTF
NN JODIFT
0JMTZTUFN
1SFTTVSFTQMBTI
&OHJOFUZQF
TUSPLF0)$
0JMQVNQ
*OUFSOBMHFBS
0JMmMUFS
'VMMnPXmMUFSBOETDSFFO
0JMDBQBDJUZ
- P[
$PPMJOH
%VDUFEGPSDFEBJS
%JTQMBDFNFOU
'VFMSFRVJSFNFOUT
DD
-FBEGSFFHBTPMJOF
%SZXFJHIU
'SPOU
LHT MCT
3FBS
LHT MCT
5PUBM
LHT MCT
$VSCXFJHIU
"JSDMFBOFS
'PBNBOEQBQFS
$BSCVSFUPSUZQF
$7,
7FOUVSJ
NN
5ISPUUMFNFDIBOJTN
#VUUFSnZUZQF
*HOJUJPOTZTUFN
$%*UZQF
'SPOU
LHT MCT
#5%$!31.
3FBS
LHT MCT
4QBSLQMVH
/(,$)4"$IBNQJPO
5PUBM
LHT MCT
;:
5JSFTJ[F
(BQ
NN JODI
'SPOU
Y
#BUUFSZ
7")
3FBS
Y
%SJWFTZTUFN
NN JODIFT
$MVUDI
%SZNVMUJQMBUF
5SBOTNJTTJPO
$75
(SPVOEDMFBSBODF
4UPQQJOHEJTUBODF
NGSPNLNIS
GUGSPNNQI
4IJGUJOH
"VUPNBUJD
5VSOJOHSBEJVT
N GU
'JOBM%SJWF
%PVCMFSFEVDUJPO
TUTUFQ
OETUFQ
&OHJOF4QFDT
5ZQF
TUSPLF4*
4UBSUJOH
&MFDUSJDLJDLTUBSU
$ZMJOEFST
4JOHMF
$PNCVTUJPODIBNCFS
)FNJTQIFSJDBM
7BMWFUSBJO
4JOHMF0)$
#PSF
NN JODIFT
4USPLF
NN JODIFT
%JTQMBDFNFOU
DD
$PNQSFTTJPOSBUJP
4UFFSUVCFBOHMF
4UFFSJOHBOHMF
5JSFQSFTTVSFGSPOU
LHDN QTJ
5JSFQSFTTVSFSFBS
LHDN QTJ
'SPOUCSBLF
)ZESBVMJDEJTD
3FBSCSBLF
.FDIBOJDBMESVN
4VTQFOTJPOGSPOU
5FMFTDPQJD
4VTQFOTJPOSFBS
5SBJMJOHBSN
4IPDLBCTPSCFSGSPOU
$PJMTQSJOHIZESBVMJD
$PNQSFTTJPOQSFTTVSF
LHDN
4IPDLBCTPSCFSSFBS
$PJMPWFSIZESBVMJDTIPDL
QTJ
'SBNFUZQF
5VCVMBSTQBDFGSBNF
(FOFSBM*OGPSNBUJPO
5FDIOJDBM5JQT
t3FQMBDFBMMHBTLFUT
PSJOHT
DJSDMJQT
BOEDPUUFSQJOTXIFOQFSGPSNJOH
NBJOUFOBODFPOUIFTDPPUFS/VUTBOE
CPMUTPOBMMFOHJOFDPWFSTTIPVMECF
UJHIUFOFEJOBEJBHPOBMQBUUFSOUP
VOJGPSNMZEJTUSJCVUFDMBNQ
GPSDF
t4QFDJBMTFSWJDFUPPMTNBZCFSFRVJSFE
UPQFSGPSNNBJOUFOBODFBOESFQBJSTPO
UIJTTDPPUFS"MXBZTVTFUIFQSPQFSUPPMT
UPQSFWFOUEBNBHFUPUIFTDPPUFS
t$MFBOBOEMVCSJDBUFBMMFOHJOFQBSUT
EVSJOHUIFEJTBTTFNCMZBOESFBTTFNCMZ
QSPDFTTUPQSFWFOUEBNBHFUPUIF
FOHJOF
t6TFMVCSJDBOUTSFDPNNFOEFEJOUIJT
NBOVBMBUBMMUJNFTUPBTTVSFQFBL
QFSGPSNBODFGSPNUIFTDPPUFS
t6TFPOMZHFOVJOFSFQMBDFNFOUQBSUT
XIFOQFSGPSNJOHSFQBJSTUPUIFTDPPUFS
(FOFSBM*OGPSNBUJPO
5FDIOJDBM5JQT DPOUJOVFE
t8IFOQFSGPSNJOHNBJOUFOBODFPOUIF
TDPPUFS
NBLFTVSFUIBUBMMNPWJOHQBSUT
BOEDPOUSPMTNPWFGSFFMZBOESFUVSOUP
UIFJSQSPQFSQPTJUJPO
t8IFODPOOFDUJOHUIFCBUUFSZ
BMXBZT
DPOOFDUUIFQPTJUJWFUFSNJOBMmSTU
t8IFOEJTDPOOFDUJOHUIFCBUUFSZ
BMXBZT
EJTDPOOFDUUIFOFHBUJWFUFSNJOBMmSTU
t.BLFTVSFUIBUUPPMTBOETFSWJDF
FRVJQNFOUEPOPUDPNFJODPOUBDUXJUI
CPUICBUUFSZUFSNJOBMT
t$PWFSCPUICBUUFSZUFSNJOBMTXJUIB
MJHIUDPBUPGHSFBTFUPQSFWFOU
DPSSPTJPO
(FOFSBM*OGPSNBUJPO
5FDIOJDBM5JQT DPOUJOVFE
t8IFOSFQMBDJOHGVTFT
BMXBZTVTFBO
FYBDUSFQMBDFNFOU%POPUVTFGVTFTPG
BIJHIFSBNQSBUJOH
t8IFOBTTFNCMJOHXJSFDPOOFDUPST
QSFTTmSNMZUPBTTVSFUIFMPDLUBCGVMMZ
FOHBHFT
:&4
t3FQMBDFBMMSVCCFSDBQTPOXJSF
DPOOFDUPSTBGUFSQFSGPSNJOH
NBJOUFOBODF
/0
t8IFOEJTDPOOFDUJOHXJSFDPOOFDUPST
QSFTTmSNMZPOUIFMPDLJOHUBCBOEQVMM
UIFCPEZPGUIFDPOOFDUPST/FWFSQVMM
POUIFXJSFT
t.BLFTVSFUIBUBMMXJSFUFSNJOBMTBSF
QSPQFSMZJOQMBDFCFGPSFBUUFNQUJOHUP
BTTFNCMFBOZXJSFDPOOFDUPS
(FOFSBM*OGPSNBUJPO
5FDIOJDBM5JQT DPOUJOVFE
t.BLFTVSFUIBUBMMXJSJOHDPOOFDUPSTBSFGVMMZ
TFBUFEBOEMPDLUVCTFOHBHFE
t/FWFSSFVTFEBNBHFEXJSFUFSNJOBMTPS
DPOOFDUPST
t$IFDLJGBMNVDFPGDPOOFDUPSJTDPWFSFEBOE
mYBUJPOJTUJHIU
t3FQMBDFBMMSVCCFSDPWFSTPOXJSFDPOOFDUPST
UPQSFWFOUXBUFSGSPNHFUUJOHJOUPUIF
DPOOFDUPS
t4USJQPGNBJOXJSFNVTUCFmYFEPOBTTJHOFE
QPTJUJPO
t.BLFTVSFUIBUBMMQSPUFDUJWFDPWFSTBSF
QSPQFSMZJOQMBDFPWFSUIFXJSJOHDPOOFDUPST
t*OTVMBUPSPGBMVNJOVNTUSJQNVTUCFBGmYFEUP
XJSFT
t.BLFTVSFUIBUBMMXJSJOHIBSOFTTSFUBJOFSTBSF
QSPQFSMZQMBDFE
t%POPUPWFSUJHIUFOXJSJOHUJFTUPQSFWFOU
QJODIJOHPGXJSFT
t/FWFSSFVTFEBNBHFEXJSFUFSNJOBMTPS
DPOOFDUPST
t%POPUBMMPXXJSJOHIBSOFTTUPIBOHJOMPPTF
MPPQT
(FOFSBM*OGPSNBUJPO
5FDIOJDBM5JQT DPOUJOVFE
t.BLFTVSFUIBUBMMXJSFDMJQTBSF
QSPQFSMZBUUBDIFE
t.BLFTVSFUIBUUIFXJSJOHIBSOFTTBOE
BMMXJSFTEPOPUDPOUBDUIPUDPNQPOFOUT
PSTVSGBDFQBSUTPGUIFTDPPUFS
/0
:&4
/0
t.BLFTVSFUIBUUIFXJSJOHIBSOFTTBOE
BMMXJSFTEPOPUDPOUBDUNPWJOHPS
SPUBUJOHQBSUTPGUIFTDPPUFS
t.BLFTVSFUIBUUIFXJSJOHIBSOFTTBOE
BMMXJSFTEPOPUDPOUBDUTIBSQFEHFTPS
QBSUTPGUIFTDPPUFS6TFUBQFUPQSFWFOU
EBNBHFUPXJSFTPOTIBSQFEHFT
/0
:&4
/0
:&4
(FOFSBM*OGPSNBUJPO
5FDIOJDBM5JQT DPOUJOVFE
t%POPUQVMMXJSFTUPPUJHIUMZ
t6TFUBQFUPQSPUFDUBHBJOTUTIBSQFEHFT
t.BLFTVSFUIBUBMMSVCCFSHSPNNFUTBSFJO
QMBDFUPQSPUFDUUIFXJSJOHIBSOFTT
t%POPUSFVTFCSPLFOPSGSBZFEXJSFT
t3FQBJSPSSFQMBDFXJSFTBTOFDFTTBSZ
(FOFSBM*OGPSNBUJPO
5FDIOJDBM5JQT DPOUJOVFE
t%POPUUXJTUPSLOPUXJSFTXIFO
QFSGPSNJOHNBJOUFOBODFPOUIFTDPPUFS
/0
t.BLFTVSFUIBUZPVVOEFSTUBOEUIFQSPQFS
VTFPGUFTUFRVJQNFOUUPQFSGPSN
NBJOUFOBODFPOUIFTDPPUFS5IJTXJMM
QSFWFOUBDDJEFOUBMEBNBHFUPUIF
FMFDUSJDBMTZTUFNPGUIFTDPPUFS
:&4
t.BLFTVSFUIFXJSJOHIBSOFTTFTUPUIF
IBOEMFCBSTBSFOPUUPPUJHIUPSUPPMPPTF
CZUVSOJOHUIFIBOEMFCBSTCPUISJHIUBOE
MFGUXIJMFNBLJOHTVSFUIFSFJTOPQJODIJOH
PSQVMMJOHPGUIFXJSFT
t6TFFMFDUSJDBMDPOUBDUDMFBOFSBOE
BCSBTJWFQBQFSUPDMFBODPSSPTJPOGSPNBOZ
XJSFUFSNJOBMT
t5BLFDBSFUPQSFWFOUJOBEWFSUFOUEBNBHF
UPXJSJOHBOEDBCMFT
/0
(FOFSBM*OGPSNBUJPO
5FDIOJDBM5JQT DPOUJOVFE
%FmOJUJPOTPGEJBHSBNT
5IFGPMMPXJOHJDPOTBSFVTFEUPIJHIMJHIUJNQPSUBOU
PQFSBUJPOTJOUIFTFSWJDFPGUIFTDPPUFS
-VCSJDBUJOHPJMSFRVJSFE
(SFBTFSFRVJSFE
&OHJOFPJMSFRVJSFE
4QFDJBMUPPMTSFRVJSFE
4QFDJBMBUUFOUJPOSFRVJSFE
%BOHFSPVTBOEJNQPSUBOU
TQFDJBMDBSFSFRVJSFE
(FOFSBM*OGPSNBUJPO
5PSRVF4FUUJOHT
4UBOEBSE5PSRVF4FUUJOHT
(FOFSBM5PSRVF3FRVJSFNFOUTGPS4UBOEBSE'BTUFOFST
'BTUFOFS5ZQF
5PSRVF
'BTUFOFS5ZQF
5PSRVF
NN$BQ4DSFX
NN$BQ4DSFX
NN$BQ4DSFX
NN$BQ4DSFX
NN$BQ4DSFX
LHDN
LHDN
LHDN
LHDN
LHDN
NN4PDLFU)FBE4DSFX
NN4PDLFU)FBE4DSFX
NN'MBOHF)FBE4DSFX
NN'MBOHF)FBE4DSFX
NN'MBOHF)FBE4DSFX
LHDN
LHDN
LHDN
LHDN
LHDN
4QFDJBM5PSRVF4FUUJOHT
5PSRVF3FRVJSFNFOUTGPS&OHJOF'BTUFOFST
/VNCFS %JB
6TFE
NN
'BTUFOFS5ZQF
$ZMJOEFS#PMU"
$ZMJOEFS#PMU#
0JM'JMUFS4DSFFO$BQ
&YIBVTU1JQF'MBOHF#PMU
'MBOHF4DSFX#FMU1VMMFZ
7BMWF"EKVTUFST
$BN$IBJO"EKVTUFS
(VJEF1MBUF4DSFX
0JM'JMM4DSFX
$MVUDI$PWFS4DSFX
$MVUDI%SJWFO6OJU
.PVOUJOH4DSFX
4UBSUFS.PUPS.PVOUJOH4DSFX
0JM1VNQ.PVOUJOH4DSFX
$MVUDI%SJWFS.PVOUJOH4DSFX
"$(DPJM.PVOUJOH4DSFX
$BN$IBJO"EKVTUFS4DSFX
4QBSL1MVH
5PSRVF
$PNNFOUT
LHN JOMCT
-VCSJDBUFXJUI&OHJOF0JM
-VCSJDBUFXJUI&OHJOF0JM
5PSRVF3FRVJSFNFOUTGPS'SBNF'BTUFOFST
'BTUFOFS5ZQF
$ZMJOEFS#PMU"
$ZMJOEFS#PMU#
0JM'JMUFS4DSFFO$BQ
&YIBVTU1JQF'MBOHF#PMU
'MBOHF4DSFX#FMU1VMMFZ
7BMWF"EKVTUFST
/VNCFS %JB
6TFE
NN
5PSRVF
LHN JOMCT
$PNNFOUT
6TF4PGU4FU-PDL5JUF
(FOFSBM*OGPSNBUJPO
5PPM3FRVJSFNFOUT
FQBJSPGUIF
TDPPUFS
BDPNQMFUFCBTJDTFUPGNFUSJDTJ[FE
UPPMTJTSFRVJSFE5IJTTIPVMEJODMVEF0QFOFOE
XSFODIFT
TPDLFUTBOESBUDIFU
IFYLFZT
TUSBJHIU
BOE1IJMJQTTDSFXESJWFST
TUBOEBSEQMJFST
OFFEMFOPTFEQMJFST
XJSFDVUUFST
XJSFTUSJQQFST
TDSBQFS
QJOQVODI
IBNNFSBOETPGUGBDFENBMMFU
'PSBNPSFFYUFOTJWFUFBSEPXOBOESFCVJMEPGUIF
TDPPUFS
UIFSFBSFBWBSJFUZPGTQFDJBMUPPMTUIBU
XJMMCFSFRVJSFE5IFTFJODMVEFUIFGPMMPXJOH
t7BMWFTQSJOHDPNQSFTTPS
t7BMWFHVJEFSFBNFS
t'FFMFSHBHFTFU
t4MJEFIBNNFSCFBSJOHBOETFBMSFNPWFS
t#FBSJOHQSFTT
t5PSRVFXSFODI
t3JOHDPNQSFTTPS
t$MVUDITQSJOHDPNQSFTTPS
t'MZXIFFMQVMMFS
t&MFDUSPOJDNVMUJNFUFS
(FOFSBM*OGPSNBUJPO
-VCSJDBUJPO3FRVJSFNFOUT&OHJOF
*UFN-PDBUJPO
3FDPNNFOEFE-VCSJDBOU
WBMWFHVJEFWBMWFTUFNNPWJOHQBSU
4"&8&OHJOF0JM
DBNTIBGUMVHTVSGBDF
"1*4((SBEF&OHJOF0JM
WBMWFSPDLJOHBSNGSJDUJPOTVSGBDF
PJM
DBNTIBGUESJWFDIBJO
HSFBTF
DZMJOEFSmYFETDSFXCPMUTBOEOVUT
PJM
BSPVOEQJTUPOBOEQJTUPOSJOHHSPPWF
PJM
BSPVOEQJTUPOQJO
PJM
DZMJOEFSTVSGBDF
PJM
DPOOFDUJOHSPE
QJTUPOQJOCPSF
PJM
DPOOFDUJOHSPECJHFOE
PJM
DSBOLTIBGU3
-TJEFPJMTFBM
PJM
TUBSUFSSFEVDUJPOSFBSFOHBHJOH NBUJOH
QBSU
DPVOEFSTIBGUHFBSFOHBHJOHQBSU
PJM
mOBMHFBSFOHBHJOHQBSU
PJM
FBDICFBSJOHSPUBUJPOBMQBSU
HSFBTF
PSJOHTVSGBDF
PJM
PJMTFBMMJQ
PJM
TUBSUFSJEMFHFBS
PJM
GSJDUJPOTQSJOHNPWJOHQBSU
TIBGUNPWJOHQBSU
HSFBTF
TIBGUNPWJOHHSPPWFQBSU
PJM
TUBSUFSESJWFBYMF
HSFBTF
"$HFOFSBUPSDPOOFDUPS
BEIFTJWF
(FOFSBM*OGPSNBUJPO
$IBTTJT
t"QQMZPJMUPUIFGPMMPXJOHQBSUT
t6TFHSFBTFJOUIFQBSUTPUIFSUIBOTQFDJmFE
POFT
t"QQMZFOHJOFPJMPSHSFBTFUPUIFNPWJOHQBSUTUP
QSFWFOUBCOPSNBMOPJTFBOEUPSBJTFEVSBCJMJUZ
(3&"4&
t3&"3#3",&-&7&31*705
&/(*/&0*-
t41&&%0.&5&3
%3*7&
(3&"4&
t4&"5-"5$)
(3&"4&
t3&"3#3",&
(6*%&-*/&
(3&"4&
t3&"38)&&-#&"3*/(
(3&"4&
t41&&%.&5&3'-&9*#-&4)"'5
t'30/58)&&-#&"3*/(
t#3",&$".
t'*9&%1*/
t'30/54)0$,"#403#&3#"4&
(3&"4&
t$&/5&345"/%1*705
(3&"4&
t#3",&$".
"/%1*/
(FOFSBM*OGPSNBUJPO
$BCMF3PVUJOH%JBHSBN
'30/5#3",&$"#-&
'30/5#3",&
48*5$)-&"%
41&&%0.&5&3$"#-&
3&"3#3",&48*5$)-&"%
5)3055-&$"#-&
."*/48*5$)
70-5"(&3&(6-"5*0/3&$5*'*&3
3&"3#3",&$"#-&
)&"%-*()5-&"%$0//&$503
)&"%-*()53&4*45"/$&
)03/
"650."5*$#:1"44
45"35&33&4*45"/$&
'-"4)&3
(FOFSBM*OGPSNBUJPO
70-5"(&3&(6-"5*0/3&$5*'*&3
."*/)"3/&44
5)3055-&$"#-&
)&"%-*()5
3&4*45"/$&
"650."5*$
&/3*$).&/5
3&4*45"/$&
5)3055-&$"#-&
3&"3#3",&$"#-&
'30/5%*4$#3",&)04&
41&&%0.&5&3$"#-&
(FOFSBM*OGPSNBUJPO
'64&
3&%#"55&3:$"#-&104*5*7&
(3&&/#"55&3:$"#-&/&("5*7&
(FOFSBM*OGPSNBUJPO
'6&--*/&
*(/*5*0/$0*-
*(/*5*0/$"#-&
7"$66.-*/&
5)3055-&
$3"/,$"4&7&/5
30$,&3$07&37&/5
(FOFSBM*OGPSNBUJPO
'6&-7"1033&563/1*1&
'6&-1"44"(&
$3"/,$"4&
#3&"5)&3
'6&-4&/403
'7$ '6&$0/530-7"-7&
."*/8*3*/()"3/&44
5)3055-&$"#-&
7"$66.-*/&
45"35&3&/3*$).&/5
$"#-&
*(/*5*0/$0*7"$66.-*/&
41"3,1-6(
."*/8*3*/(
)"3/&44
$3"/,$"4&"5)&3
45"35&3&/3*$).&/5
45"35&3.0503$"#-&
33FE
:#:FMMPXCMBDL
%*..&348*5$)
1"44
# #8 8
)&"%-*()5
'6&-.&5&3
#*8
-#M (3
# -(
0''
0/
#
# (:
(:
11JOL
#8CMBDL
3&"3#3",&48*5$)
0''
0/
#M#MVF
#S3CSPXOSFE
)03/#6550/
0''
0/
-(
::FMMPX
(3(SFFOSFE
563/48*5$)
-&'5
-*()5
00SBOHF
#M8CMVFXIJUF
#M
(
'30/5
563/
)*()#&".*/%*$"503-*()5
.&5&3-*()5
563/*/%*$"503-*()5
'30/5563/3*()5-*()5
)03/
8
45"35&3
.0503
.
3
(S(SFZ
88IJUF
(
#S#SPXO
#:CMBDLZFMMPX
'64&
(: (
'6&-4&/%&3
#*8
0/
0''
0/
0''
3: (
48*5$)
#
(:
#*:
#3
8
#M:#MVFZFMMPX
$%*
(
(S
'-"4)&3
3&-":
#:
((SFFO
*(/*5&3
$0*-
#8 (
&.&3(&/$:
450148*5$)
-(-JHIUHSFFO
-#*-JHIUCMVF
3&$5*'*&3
:
7")
#"55&3:
41"3,1-6(
'30/5
45"35*/(#3",&
#6550/
45"35&3
3&-":
: #8
%H%BSLHSFFO
(:(SFFOZFMMPX
1
#S
#
3 #8 (
-*()548*5$)
."*/48*5$)
:
0
#S
-#*
."(&/5"
:
#3#MBDL3FE
(#
"650
&/3*$)&3
838IJUFSFE
41&&%-*.*5
4&-&$5"#-&6/*5
3&"3563/
-*()5 -&'5
(
5"*-#3",&
-*()5
3&"3563/
-*()5 3*()5
(FOFSBM*OGPSNBUJPO
(FOFSBM*OGPSNBUJPO
5SPVCMF4IPPUJOH(VJEF
4UBSUFS'BJMVSFPS)BSE4UBSUJOH
$IFDL"EKVTU
'BVMUZ$POEJUJPO
-PPTFODBSCVSFUPSPWFSnPXTDSFX
BOEDIFDLJGUIFSFJTGVFMJOJU
4VQQMZBQQMZ
FOPVHIGVFM
/PGVFMTVQQMJFEUPDBSCVSFUPS
3FNPWFTQBSLQMVHJOTUBMMJUJOJUT
DBQBOEDPOOFDUJUUPFOHJOFUP
GPSTQBSL
5IFSFJTTQBSLPWFSJOTQBSLQMVH
5IFSFJTOPTQBSLPSXFBLTQBSL
5FTUDPNQSFTTJPOQSFTTVSF
/PSNBMDPNQSFTTJPOQSFTTVSF
/PDPNQSFTTJPOQSFTTVSF
PSDPNQSFTTJPOQSFTTVSF
UPPMPX
4UBSUBDDPSEJOHUPPQFSBUJOHNFUIPE
/PJHOJUJPOTQBSL
&OHJOF
IBWJOHJHOJUJPO
TQBSLCVUOPUUPTUBSU
3FNPWFTQBSLQMVHBHBJOBOEDIFDL
4QBSLQMVHXFU
4QBSLQMVHESZ
$BVTFPG5SPVCMF
/PGVFMJOUBOL
1BTTBHFGSPNUBOL
UPDBSCVSFUPSCMPDLFE
'MPBUQBTTBHFDMPDLFE
"JSIPMFJOGVFMUBOLDBQCMPDLFE
'VFMmMUFSCMPDLFE
'VFMmMUFSTDSFFOCMPDLFE
7BDVVNTXJUDIGBVMUZ
4QBSLQMVHCBE
4QBSLQMVHEJSUZBOECSPLFO
$%*CBE
1JDLVQDPJMCBE
*HOJUJPODPJMCSPLFODJSDVJU
PSTIPSUDJSDVJU
*HOJUJPODPJMCSPLFOXJSF
PSTIPSUDJSDVJU
.BJOTXJUDICBE
4UBSUFSDMVUDICBE
7BMWFUPPUJHIU
7BMWFTFUCBE
$ZMJOEFSQJTUPOPSQJTUPOSJOHCBE
$ZMJOEFSHBTLFUMFBLJOH
7BMWFCVSOFE
7BMWFUJNJOHJNQSPQFS
"VUPNBUJDDIPLFQFSGPSNBODF
"JSJOMFUJNQSPQFSNBOJGPME
*HOJUJPOUJNFXSPOH
$BSCVSFUPSPJMRVBOJUJUZ
SFHVMBUJPOTDSFXCBE
$BSCVSFUPSPJMMFWFMUPPIJHI
"VUPFOSJDIJOHEFWJDFTUBSU
FOSJDINFOUGBVMUZ
5ISPUUMFWBMWFPQFOJOHUPPXJEF
(FOFSBM*OGPSNBUJPO
5SPVCMF4IPPUJOH(VJEF
VOEFSTQFFE
OPQPXFS
$IFDL"EKVTU
'BVMUZ$POEJUJPO
4VQQMZFOHJOFXJUIGVFMBOEXBUDI
&OHJOF31.0,
-PX&OHJOF31.
3FHVMBUFJHOJUJPOUJNFVTJOHUJNJOHMBNQ
*HOJUJPOUJNJOHDPSSFDU
*HOJUJPOUJNJOHJODPSSFDU
7BMWFHBQJODPSSFDU
5FTUDPNQSFTTJPOQSFTTVSFEFUFSNJOJOH
$PNQSFTTJPOQSFTTVSFOPSNBM
"JSmMUFSCMPDLFE
'VFMDIPLF
'VFMUBOLDBQBJSCMFFEFS
CMPDLFE
&YIBVTUQJQFCMPDLFE
"VUPDIPLFCBE
$BSCVSFUPSEJBQISBNCSPLFO
"VUPNBUJDPJMDVQCBE
$%*CBE
*HOJUJPODPJMCBE
7BMWFSFHVMBUJPOGBJMVSF
7BMWFHBQDPSSFDU
$BVTFPG5SPVCMF
7BMWFHBQBEKVTUNFOUJNQSPQFS
7BMWFTFBUFYDFTTJWFMZXPSO
WBMWFPVUTIPPUJOHFYDFTTJWFMZ
$PNQSFTTJPOQSFTTVSFUPPMPX
7BMWFTFBUCBE
$ZMJOEFSPSQJTUPOXPSO
$ZMJOEFSHBTLFUMFBLJOH
7BMWFUJNJOHCBE
#MPDLFE
$MFBO
%JSUZPSEJTDPMPSFE
$MFBO
4QBSLQMVHIFBUWBMVFJNQSPQFS
UPPNVDI
&OHJOFPJMUPPNVDI
&OHJOFPJMUPPMJUUMF
&OHJOFPJMVODIBOHFE
"COPSNBM
0JMQBTTBHFCMPDLFE
0JMQVNQEFMJWFSZ
$IFDLGPSDBSCVSFUPSCMPDLBHF
/PCMPDLBHF
3FNPWFTQBSLQMVHUPDIFDL
/PUEJSUZPSEJTDPMPSFE
$IFDLFOHJOFPJMMFWFMPSRVBMJUZJODSBOLDBTF
/PSNBMMFWFM
$IFDLDZMJOEFSIFBEMVCSJDBUJPO
/PSNBM
$IFDLFOHJOFIFBUJOH
/PUUPPIPU
UPPIPU
"DDFMFSBUJPOPSSVOBUBIJHITQFFEDPOUJOVPVT
/PLOPDLJOH
,OPDLJOH
1JTUPOPSDZMJOEFSXPSO
.JYUVSFFYDFTTJWFMZUIJOGVFMJNQSPQFS
$PNCVTUJPODIBNCFSDBSCPO
EFQPTJUUPPNVDI
*HOJUJPOUJNFUPPFBSMZ
$PNCVTUJPODIBNCFS
$BSCPOEFQPTJUUPPNVDI
'VFMCBE
$MVUDITMJQQJOH
.JYUVSFXFBL
*HOJUJPOUJNJOHUPPFBSMZ
(FOFSBM*OGPSNBUJPO
5SPVCMF4IPPUJOH(VJEF VOEFSTQFFE
OPQPXFS
$IFDL"EKVTU
'BVMUZ$POEJUJPO
$BVTFPG5SPVCMF
"EKVTUJHOJUJPOUJNF
/PSNBM
"COPSNBM
$%*CBE
5SJHHFSDPJMCBE
"EKVTUDBSCVSFBUPSBEKVTUJOHTDSFX
(PPE
#BE
.JYUVSFMFBO
UPMPPTFOTDSFX
.JYUVSF
5PPSJDI UPUJHIUFOTDSFX
"JSJOUBLFO
)FBUTIJFMECBE
$BSCVSFUPSIPMEEPXOOVUMPPTF
)FBUTIJFMECSPLFO
/FHBUJWFQSFTTVSFQJQFCSPLFO
$IFDLGPSDBSCVSFUPSHBTLFUBJSMFBLBHF
/PBJS
3FNPWFTQBSLQMVHBOEJOTUBMMJUJOJUTDBQBOE
DPOOFDUJUXJUIFOHJOFUPDIFDLGPSTQBSLPWFS
(PPE
#BE
$IFDL"$7
(PPE
#BE
4QBSLQMVHCBEPSEJSUZ
$%*CBE
#BUUFSZEJTDIBSHFE
*HOJUJPODPJMCBE
.BJOTXJUDICBETQBSLQMVH
MFBECSPLFOPSTIPSUDJSDVJU
"$7CBE
/FHBUJWFQSFTTVSFQJQFEBNBHFE
"JSCMFFEFSCMPDLFEPSEBNBHFE
(FOFSBM*OGPSNBUJPO
5SPVCMF4IPPUJOH(VJEF
IJHITQFFE
$IFDL"EKVTU
'BVMUZ$POEJUJPO
$BVTFPG5SPVCMF
"EKVTUJHOJUJPOUJNJOH
/PSNBM
"COPSNBM
$%*CBE
5SJHHFSDPJMCBE
"EKVTUWBMWFHBQ
/PSNBM
"COPSNBM
"EKVTUNFOUJNQSPQFS
$BNTIBGUXPSO
7BMWFTFBMCBE
"COPSNBM
5PPMJUUMFGVFM
'VFMmMUFSCMPDLFE
7BDVVNTXJUDICBE
$IFDLGVFMJOBVUPNBUJDPJMDVQ
/PSNBM
$IFDLDBSCVSFUPSGPSCMPDLBHF
/PCMPDLJOH
#MPDLFE
$MFBO
8SPOH
5JNFHFBSNBSLTOPUBMJHOFE
4QSJOHCSPLFOPSGBUJHVFE
4QSJOHCBE
$IFDLWBMWFUJNJOHBEKVTUNFOU
$PSSFDU
$IFDLWBMWFTQSJOH
(PPE
(FOFSBM*OGPSNBUJPO
5SPVCMF4IPPUJOH(VJEF*NQSPQFS#BUUFSZ$IBSHJOH
#BUUFSZPWFSEJTDIBSHFPSPWFSDIBSHF
$IFDL"EKVTU
'BVMUZ$POEJUJPO
$BVTFPG5SPVCMF
4UBSUFOHJOFBOENFBTVSFCBUUFSZUFSNJOBMTGPSMJNJUFEWPMUBHF
#BUUFSZWPMUBHFVODIBSHFE
/PSNBM 7
#BUUFSZTFSWJDFMJGFPWFS
#BUUFSZCBE
5FTU"$NBHOFUPSDPJMSFTJTUBODFWBMVF
/PSNBM
5FTUWBMWFUPPIJHI
$PJMCBE
:FMMPXXJSFCSPLFODJSDVJU
'BVMUZDPOOFDUPS
$IFDLSFHVMBUFESFDUJmFS5FTUWPMUBHFCZDPOOFDUJOHSFEXJSF
UPQPTJUJWFUFSNJOBMXIJMFOFHBUJWFUFSNJOBMCPEZ
7PMUBHF
/PWPMUBHF
3FEXJSFCSPLFO
$IFDLSFDUJmFSDPOOFDUPSGPSMPPTFO
/PSNBM
'BVMUZSFHVMBUFESFDUJmFS
'BVMUZDPOOFDUPS
"COPSNBM
"$(CBE
5FTUWPMUBHFCZDPOOFDUJOHHSFFOXJSFUPBOEUPCPEZ
#BUUFSZXJUINBJOTXJUDIPO
*NQSPQFSMZDIBSHFE PWFSDIBSHFE
)BWJOHOPWPMUBHFXJUINBJOTXJUDIJOPO
(SFFOXJSFCSPLFO
$IFDLSFHVMBUFESFDUJmFSDPOOFDUPSGPSQPPSDPOUBDU
/PSNBM
4QSJOHCSPLFOPSGBUJHVFE
$POOFDUPSDPOUBDUQPPS
3FHVMBUFESFDUJmFSCBE
(FOFSBM*OGPSNBUJPO
5SPVCMF4IPPUJOH(VJEF
OPTQBSL
$IFDL"EKVTU
'BVMUZ$POEJUJPO
$BVTFPG5SPVCMF
3FQMBDFTQBSLQMVHBOEDIFDLBHBJO
4QBSLXFBLPSTQBSLMFTT
4QBSLTUSPOH
'PSNFSTQBSLQMVHCBE
$IFDLTQBSLQMVHDBQBOEJHOJUJPODPJMGPSMPPTFOFTT
1SPQFS
-PPTF
4QBSLQMVHDBQMPPTF
"COPSNBM
1PPS$POUBDU
$IFDL$%*DPOOFDUPSGPSMPPTFOFTT
/PSNBM
$IFDLGPSDPOEVDUJPOCFUXFFODPOOFDUPS
UFSNJOBMTBOEUFTU$%*SFTJTUBODF
/PSNBM
"COPSNBM
$IFDLSFMBUFEQBSUT
/PSNBM
"COPSNBM
/PSNBM
"COPSNBM
.BJOTXJUDICBE
1JDLVQDPJMCBE
*HOJUJPODPJMCBE
.BJODBCMFCSPLFO
$POOFDUPSQMVHQPPSDPOUBDU
6TF$%*UFTUFSUPDIFDL$%*
"COPSNBM
/PSNBM
$%*CBE
$IFDLJHOJUJPODPJMVTJOH$%*UFTUFS
"COPSNBM
*HOJUJPODPJMCBE
(FOFSBM*OGPSNBUJPO
#PEZ&YQMPEFE7JFX
#PEZ$PWFSBOE&YIBVTU4ZTUFN
5PQJD
1BHF
(FOFSBM*OGPSNBUJPO
#PEZ$PWFS3FNPWBM
&YIBVTU4ZTUFN3FNPWBM
(FOFSBM*OGPSNBUJPO
t%POPUVTFFYDFTTJWFGPSDFXIFOSFNPWJOHCPEZ
QBOFMT6TFBmSN
DPOTJTUFOUGPSDFUPEJTFOHBHF
UIFUBCTBOESFNPWFUIFQBOFMT
t%POPUQSZPSQPVOEPOUIFCPEZQBOFMT5IF
NPVOUJOHUBCTBSFOPUEFTJHOFEUPXJUITUBOE
QSZJOH
QPVOEJOHPSUXJTUJOH
1BSUTUPCFSFNPWFEBOETFRVFODFPGSFNPWBM
t'SPOUIFBEMJHIUBOENFUFSDPWFS
t#BDLIFBEMJHIUBOENFUFSDPWFS
t'SPOUGFOEFS
t'SPOUCPEZDPWFS
t'SPOUCPEZQBOFM
t4FBUBOEIFMNFUCPY
t3FBSIBOEIPMEBOEUBJMMJHIUBTTFNCMZ
t'PPUCPBSEDPWFSBOECBUUFSZDPWFS
t'PPUCPBSEBOESFBSDPWFS
t'SPOUGSBNFDPWFS
t$PWFSTBOECPEZTJEFQBOFMT
t#PUUPNDPWFS
5PSRVFSFRVJSFNFOUT
t#PEZNPVOUJOHOVUTBOETDSFXTLHN
t&YIBVTUQJQFCPMUTLHN
#PEZ$PWFSBOE&YIBVTU4ZTUFN
#PEZ$PWFS3FNPWBM
'SPOU1BOFM3FNPWBM
3FNPWFPOFGSPOUDPWFS
TDSFXGSPNGSPOUPGQBOFM
3FNPWFUXPTDSFXTPOCPUI
MFGUBOESJHIUTJEFT3FNPWF
GSPOUQBOFM*OTUBMMGSPOUQBOFMJO
UIFSFWFSTFPSEFS
B
'SPOU$PWFS3FNPWBM
3FNPWFSSFBSDPWFS
MFGUBOE
SJHIUTJEFDPWFSTBOEGSPOUXIFFM
3FNPWFUXPTDSFXTJOGSPOU
DPWFS B
BOESFNPWFUXPTDSFXTPOFBDI
TJEF MFGUBOESJHIU
C
3FNPWF
GSPOUDPWFS
*OTUBMMGSPOUDPWFSJOUIF
SFWFSTFSFNPWBMPSEFS
.BLFTVSFUPTVQQPSUUIF
TDPPUFSXIJMFSFNPWJOHUIFGSPOU
XIFFMUPQSFWFOUJUGSPN
GBMMJOH
4$3&84
'30/5$07&3
'30/5
)"/%-&#"3
$07&3
C
'SPOUBOE3FBS)BOEMFCBS
$PWFS3FNPWBM
3FNPWFUXPTDSFXTPOGSPOU
PGIBOEMFCBSDPWFSBOESFNPWF
POFTDSFXJOCPUISJHIUBOEMFGU
TJEFTPGSFBSIBOEMFCBSDPWFS
%JTDPOOFDUIFBEMJHIUMFBE
BOESFNPWFGSPOUIBOEMFCBS
DPWFS
%JTDPOOFDUTQFFEPNFUFS
MFBE
MFGUBOESJHIUTXJUDIFTBOE
CSBLFTXJUDIDPOOFDUPS3FNPWF
POFmYTDSFXJOSFBSIBOEMFCBS
DPWFS
3FNPWFUIFmYTDSFXJOFBDI
TJEFPGSFBSIBOEMFCBSDPWFS
3FNPWFSFBSIBOEMFCBSDPWFS
3FNPWFUIFSFNPWBMPSEFS
GPSJOTUBMMBUJPO
'30/5#3",&
$"#-&
'30/5#3",&
48*5$)-&"%
41&&%0.&5&3$"#-&
3&"3#3",&
48*5$)-&"%
3&"3#3",&$"#-&
#PEZ$PWFSBOE&YIBVTU4ZTUFN
#PEZ$PWFS3FNPWBM
3FNPWFNJEEMFMVHHBHF
CPYBGUFSPQFOJOHUIFTFBU
BOESFNPWJOHUIFGPVSMPDL
OVUT
4&"5
3FNPWFUXPDFOUFSDPWFS
TDSFXT
3FNPWFDFOUFSDPWFS
3FNPWFMFGUBOESJHIU
DPWFS
3FNPWFUISFFSFBSSBDL
TDSFXT
3FNPWFSFBSSBDL
.*%%-&-6(("(	
$&/5&3
$07&3
3FNPWFTDSFXTJOSFBSPG
CPEZQBOFM
3FNPWFUIFUXPTDSFXTJO
UIFGSPOUPGUIFCPEZ
QBOFM
%JTDPOOFDUTFBUMPDLMFBE
3FNPWFUIFSFNPWBM
PSEFSGPSJOTUBMMBUJPO
.BLFTVSFUPDPOOFDU
TFBUMPDLMFBEXIFO
JOTUBMMJOHCPEZDPWFS
-6(("(&3"$,
#PEZ$PWFSBOE&YIBVTU4ZTUFN
3JHIUBOE-FGU4JEF.PME
3FNPWBM
3FNPWFUXPSFBSCPEZTDSFXT
3FNPWFUISFFTDSFXTJOFJUIFS
TJEFPGNPME
3FNPWFMFGUBOESJHIUTJEF
QBOFMT
#PEZVOEFS$PWFS3FNPWBM
3FNPWFSFBSCPEZQBOFM
/654
3FNPWFMFGUBOESJHIUTJEF
QBOFMT
7
3FNPWFUXPOVUTJOFJUIFSTJEF
PGCPEZVOEFSDPWFS
3FNPWFCPEZDPWFS
#0%:6/%&3$07&3
'MPPS1BOFM3FNPWBM
3FNPWFCBUUFSZDPWFS
EJTDPOOFDUCBUUFSZMFBEBOE
EJTNPVOUCBUUFSZ
%JTDPOOFDU$%*XJSFBOEUBLF
JUPVUPGCBUUFSZCPY
3FNPWFCPEZDPWFS
3FNPWFUIFTQFFEMJNJUJOH
HPWFSOPS
3FNPWFGPVSDIFDLCPMUTJOUIF
nPPSQBOFM
3FNPWFnPPSQBOFM
'-003$07&3
#PEZ$PWFSBOE&YIBVTU4ZTUFN
'SPOU#PY3FNPWBM
3FNPWFGSPOUDPWFSBOEGSPOUQBOFM
'30/5#09
3FNPWFUXPDBUDICPMUTJOUIFGSPOUPG
UIFnPPSQBOFM
3FNPWFUIFGSPOUCPYDBUDICPMU
3FNPWFNBJOTXJUDIPVUFSSJOHBOEUIFO
SFNPWFGSPOUCPYPVUXBSEMZBOEVQXBSEMZ
'SPOUBOE3FBS'FOEFST3FNPWBM
3FNPWFUIFUXPmYTDSFXTJOUIFGSPOU
GFOEFS
%JTNPVOUUIFGSPOUGFOEFS
3FNPWFUIFUXPDBUDICPMUTJOUIF
SFBSGFOEFSTUBZ
3FNPWFUIFSFBSGFOEFSTUBZ
&YIBVTU1JQF3FNPWBM
'30/5'&/%&3
3FNPWFUIFUXPOVUTJOUIFQJQFKPJOU
3FNPWFUIFUXPQJQFDBUDICPMUT
3FNPWFUIFFYIBVTUQJQF
3FNPWFUIFKPJOUSJOH
t*OTUBMMFYIBVTUQJQFKPJOUSJOHCFGPSF
JOTUBMMJOHFYIBVTUQJQF
t*OTUBMMFYIBVTUQJQFKPJOUOVUTBOEGBTUFO
UIFNBOEUIFOJOTUBMMFYIBVTUQJQFDBUDI
CPMUTBOEGBTUFOUIFN
5PSRVF
t&YIBVTUQJQFDBUDICPMULHN
t&YIBVTUQJQFKPJOUKBNOVULHN
t6TFBOFXFYIBVTUQJQFDBSSJFSSJOHXIFO
SFBTTFNCMJOHUIFFYIBVTUTZTUFN
4DIFEVMFE.BJOUFOBODF
5PQJD
1BHF
5PQJD
1BHF
'SBNFBOE5JSF5ZQF
.BJOUFOBODF$IBSU
'VFM'JMUFS
5ISPUUMF0QFSBUJPO-FWFS
"JSmMUFS
3FQMBDJOH'SFRVFODZ
4QBSL1MVH
7BMWF"EKVTUNFOU
$BSCVSFUPS*EMF4QFFE
*HOJUJPO5JNJOH
$ZMJOEFS1SFTTVSF
3FNPWJOHUIF4QBSL1MVH
'JOBM3FEVDUJPO(FBS&OHJOF0JM
%SJWF#FMU
3FBS#SBLF"SN
#SBLF4ZTUFN'SPOU#SBLF
3FBS#SBLF
'SPOU-BNQ"EKVTUNFOU
$MVUDI&OHBHFNFOU
'SPOU4VTQFOTJPO
3FBS4VTQFOTJPO
/VUBOE#PMU5JHIUOFTT
$PMMBS3JN5JSF
"JS1SFTTVSF
5JSF4UBOEBSET
4UFFSJOH4ZTUFN
(FOFSBM*OGPSNBUJPO
8BSOJOH
"MXBZTNBLFTVSFZPVBSFJOBXFMM
WFOUJMBUFEBSFBCFGPSFUIFFOHJOF
TUBSUT/FWFSTUBSUUIFFOHJOFJOBO
FODMPTFEBSFB(BTPMJOFQPXFSFE
FOHJOFFYIBVTUGVNFTBSFQPJTPOPVT
BOEDBODBVTFMPTTPGDPOTDJPVTOFTT
BOEEFBUI%POPUTNPLFPSBMMPX
PQFOnBNFTPSTQBSLTJOPSOFBSUIF
BSFBXIFSFSFGVFMJOHJTQFSGPSNFEPS
XIFSFHBTPMJOFJTTUPSFE
4DIFEVMFE.BJOUFOBODF
'SBNF
t'SPOUCSBLFMFWFSGSFFQMBZNN
t3FBSCSBLFMFWFSGSFFQMBZNN
5JSF
VOJULHDN
1FSTPO
1FSTPOT
'SPOU
QTJ
QTJ
3FBS
QTJ
QTJ
5JSFUZQF
t'SPOUY
t3FBSY
5PSRVF
t'SPOUXIFFMBYMFOVULHN
t3FBSXIFFMBYMFOVULHN
4DIFEVMFE.BJOUFOBODF
**OTQFDU
DMFBO
MVCSJDBUF
BEEmYPSSFQMBDF
XIFOOFDFTTBSZ
""EKVTU#$MFBO$3FQMBDF%5JHIUFO
.BJOUFOBODF$IBSU
1FSGPSNSFHVMBSNBJOUFOBODF
BDDPSEJOHUP
NBJOUFOBODFIBOECPPL
.JMFBHF ,N
'SFRVFODZ
8IJDIFWFS
DPNFTmSTU
*UFN
LN
LN
LN
LN
LN
LN
LN
LN
LN
LN
LN
LN
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
3
3
3
3
3
3
3
3
3
&OHJOFPJM
UIFmSTU
LN
NJ
&OHJOFPJMmMUFS
LN
NJ
$
/PUF
"
/PUF
3
3
$BSCVSFUPS
"
"
"
*
*
*
*
3
3
$MFBOFWFSZ,N3FQMBDFXIFOOFDFTTBSZ
4QBSLQMVH
*
#SBLFTZTUFN
*
*
*
*
%SJWFCFMU
*
*
*
*
*
*
*
*
4VTQFOTJPO
*
*
*
4DSFXTBOEOVTUT
*
5JSF
4UFFSJOHTUFNCFBSJOH
3
3
OFX3
LN
NJ
7BMWFHBQ
"JSmMUFS
3
NJ
$
'VFMmMUFSTDSFFO
(FBSPJM
NJ
*
t'PSTBGFUZSFBTPOT
JUJTSFDPNNFOEFEUIBU
TFSWJDFCFQFSGPSNFECZBEFBMFS
/PUF
'PSNJMFBHFIJHIFSUIBOXIBUJTTQFDJmFEJO
UIFDIBSU
UIFNBJOUFOBODFTIPVMECFSFQFBUFE
BUUIFTBNFJOUFSWBMMJTUFE
.PSFGSFRVFOUNBJOUFOBODFJTSFRVJSFEJG
UIFWFIJDMFJTVTFEJOEVTUZBSFBTPSJOSBJO
*
*
*
.PSFGSFRVFOUSFQMBDFNFOUJTSFRVJSFEJGUIF
WFIJDMFJTTVCKFDUFEUPTFWFSVTF
TVDIBTIFBWZ
MPBEPQFSBUJPO
MPOHUSJQTPSPQFSBUJPOJOSBJO
4DIFEVMFE.BJOUFOBODF
'VFM'JMUFS
3FNPWFMVHHBHFCPY
$IFDLGVFMMJOFGPSBHFJOHPSEBNBHF
3FQMBDFXJUIBOFXPOFJODBTFEBNBHFE
PSMFBLJOH
5ISPUUMF-FWFS0QFSBUJPO
$IFDLUISPUUMFGPSQSPQFSPQFSBUJPO
$IFDLUISPUUMFHSJQGSFFQMBZ
'SFFQMBZNN JOJO
"EKVTUGSFFQMBZVTJOHUIFBEKVTUJOHOVUJO
UIFUISPUUMFDBCMFBOEUIFBEKVTUFSBUUIF
DBSCVSFUPS
t.BKPSBEKVTUNFOUTIPVMECFNBEFBU
DBSCVSFUPS
t"EKVTUJUCZMPPTFOJOHUIFKBNOVUBOESPUBUJOH
BEKVTUJOHOVU
t'JOFBEKVTUNFOUTIPVMECFNBEFBUUIFUISPUUMF
HSJQ
t3FNPWFPVUFSDPWFS
MPPTFOKBNOVUBOE
SPUBUFBEKVTUJOHOVUUPBEKVTUJU
4DIFEVMFE.BJOUFOBODF
"JS'JMUFS
'JMUFS3FQMBDFNFOU
3FNPWFBJSmMUFSDBQ
mY
TDSFXBOESFNPWFUIFBJSmMUFS
DBQ
$IFDLmMUFSGPSEJSUPS
EBNBHF3FQMBDFBTOFDFTTBSZ
%POPUBUUFNQUUPDMFBOUIF
mMUFSFMFNFOU
3FQMBDJOH'SFRVFODZ
.PSFGSFRVFOUSFQMBDFNFOU
JTSFRVJSFEJGWFIJDMFJTESJWFOPO
EVTUZSPBETPSJOUIFSBJO
"*3'*-5&3
"*3'*-5&3$"1
.BLFTVSFUIFBJSmMUFS
DPWFSJTTFDVSFMZJOQMBDF
4QBSL1MVH
3FNPWFTQBSLQMVH
("1
%*35:$"3#0/
#6*-%61$)&$,*/(
$IFDLTQBSLQMVHGPS
CVSOJOH
EJSUPSEFQPTJU
$MFBOJUXJUIBTQBSLQMVH
DMFBOFSPSTUFFMCSVTIJODBTF
PGEJSUPSDBSCPOEFQPTJUT
4QFDJmFETQBSLQMVH
/(,$)4"$IBNQJPO
$IFDLTQBSLQMVHHBQ
(BQNN JO
$IFDLQMVHGPSEJSU
DBSCPO
CVJMEVQPSDSBDLJOHPGJOTVMBUPS
41"3,
1-6(
NN
JODI
$:-*/%&3
)&"%$07&3
*/46-"503$3"$,
$)&$,*/(
4DIFEVMFE.BJOUFOBODF
7BMWF"EKVTUNFOU
"MXBZTDIFDLBOEBEKVTUXJUI
FOHJOFUFNQFSBUVSFMPXFSUIBO
$ '
3FNPWFDZMJOEFSIFBEDPWFS
3PUBUFDPPMJOHGBOUPDBNTIBGU-PDBUF
NBSLBUDFOUFSUPQ
BMJHOJOHNBHOFUP
nZXIFFMNBSLXJUIUIBUPODSBOLDBTF
.BHOFUPi5wNBSLBOECPYDSBOLTIBGU
NBSL
7BMWFHBQDIFDLJOHBOE
BEKVTUNFOUWBMWFHBQ
*/NN JO
&9NN JO
$:-*/%&3
)&"%$07&3
5PBEKVTUUIFWBMWFHBQ
MPPTFOBNOVU
BOESPUBUFBEKVTUJOHOVU
7BMWF"EKVTUNFOU8SFODI
#FTVSFUPDIFDLWBMWFHBQBHBJO
BGUFSMPDLJOHKBNOVU
)0-&*/$".(&"3
"8":'30.&/(*/&
$".4)"'5
$)"*/(&"3
$BSCVSFUPS*EMF4QFFE
*EMFBEKVTUNFOUTIPVMECFNBEF
XJUIUIFFOHJOFXBSNFEVQ
3FNPWFDPWFS
"GUFSUIFFOHJOFXBSNTVQ
DPOOFDUJU
UPBOFOHJOFSFWPMVUJPODPVOUFS
"EKVTUJEMFTDSFXVOUJMTQFDJmFE
SFWPMVUJPOJTPCUBJOFE
.JOJNVNJEMJOHTQFFESQN
3FBEKVTUUIFTDSFXJGUIFJEMFTQFFE
JTOPUTUFBEZPSGVFMDBOOPUCF
QSPQFSMZBQQMJFE
5."3,
*%-&4$3&8
4DIFEVMFE.BJOUFOBODF
*HOJUJPO5JNF
&RVJQQFEXJUI$%*
UIFSFJTOPOFFE
GPSJHOJUJPOTFUUJOH
$IFDLJHOJUJPOTZTUFNJGJHOJUJPOUJNF
JTJODPSSFDU
%JTNPVOUSJHIUCPEZDPWFS
3FNPWFJHOJUJPOUJNJOHJOTQFDUJPO
$IFDLJHOJUJPOUJNJOHVTJOHUIFUJNJOHMJHIU
$SBOLDBTFNBSLNVTUCFBMJHOFEXJUINBSL
i'wPOnZXIFFMXIJMFFOHJOFJTBUJEMF
TQFFE5IFUJNJOHTIPVMEBEWBODFBTUIF
31.JTJODSFBTFE
5IFUJNJOHNBSLTIPVMEBMJHOXJUIUIF
DSBOLDBTFNBSLBU31.
$ZMJOEFS1SFTTVSF
*(/*5*0/5*.*/(
*/41&$5*0/
.FBTVSFDZMJOEFSQSFTTVSFXJUIUIFFOHJOF
XBSNFEVQ
%JTNPVOUNJEEMFMVHHBHFCPYBOENJEEMF
DPWFS
3FNPWFTQBSLQMVH
*OTUBMMDZMJOEFSQSFTTVSFHBVHF
8JUIUISPUUMFWBMWFGVMMZPQFO
TUBSUTUBSUFS
NPUPSUPNFBTVSFDZMJOEFSQSFTTVSF QTJ
$PNQSFTTJPOQSFTTVSFLHDN
SQN
*GUIFQSFTTVSFJTFYDFTTJWFMZMPX
DIFDLGPS
UIFGPMMPXJOH
t7BMWFMFBLBHF
t7BMWFHBQUPPUJHIU
t$ZMJOEFSIFBEHBTLFUEBNBHFE
t1JTUPOSJOHXPSO
t1JTUPOPSDZMJOEFSXPSO
."3,'
1301&3-:"-*(/&%
$IFDLDPNCVTUJPODIBNCFSBOEQJTUPOUPQ
GPSFYDFTTJWFEFQPTJUJGDPNQSFTTJPOQSFTTVSF
JTUPPIJHI
4DIFEVMFE.BJOUFOBODF
'JOBMDIFDLPGHFBSFOHJOFPJMSFEVDUJPO
(&"30*-*/-&5
)0-&$)&$,)0-&
$IFDLJOHPJMWPMVNF
CVJMEVQNBJOGPPU
SFTUTPUIBUCVJMEVQCPEZCFDPNFT
WFSUJDBMPOQMBJOHSPVOE
%JTNPVOUHFBSPJMBEKVTUJOHCPMUBGUFS
TUPQQJOHFOHJOF
5IFPJMMFWFMTIPVMECFKVTUVOEFSUIF
SFHVMBUJPOTDSFXCPMUIPMF"EEHFBSPJMXIFOPJM
MFWFMJTUPPMPX
t(FBSPJMSFDPNNFOEFE4"&8
0*-%3"*/"(�-5
"/%8"4)&3
#VJMEVQHFBSPJMSFHVMBUPSTDSFXCPMU
$POmSNXIFUIFSPSOPUUIFQBDLJOHXBTIFS
JTCSPLFO
$IBOHJOH(FBS0JM
3FNPWFHFBSPJMBEKVTUJOHCPMUBOEESBJOPJM
$POmSNXIFUIFSPSOPUQBDLJOHXBTIFSJT
CSPLFO
"EESFDPNNFOEFEHFBSPJM
t(FBSPJMDBQBDJUZM&4
t#PMUUPSRVFLHNMCT
$IFDLJGUIFSFJTBOZMFBLBHFBGUFSXPSLJT
QFSGPSNFE
5SBOTNJTTJPO#FMU
%FUBDIUIFMFGUDSBOLDBTFDPWFS
$IFDLXIFUIFSUIFSFJTXFBSBOEUFBSPG
USBOTNJTTJPOCFMU
$IBOHFXJUIOFXPOFXIFOOFDFTTBSZPS
EVSJOHUJNFMZNBJOUFOBODF
53"/4.*44*0/#&-5
4DIFEVMFE.BJOUFOBODF
3FBS#SBLF"SN
$IBOHFOFXQFEBMXIFOCSBLFCBSJTQVMMFE
UPTUPQQJOHQPTJUJPOBOEUIFTQBSSPXPGCSBLF
BSNJTJOBMJHONFOUXJUIUIFCSBLFQMBUFNBSL
305"5&/65
#SBLF4ZTUFN'SPOU#SBLF
$IFDLGSFFHBQPGGSPOUCSBLFCBS
t'SFFHBQNN JO
3PUBUFBEKVTUJOHOVUUPSFHVMBUFGSFFHBQPG
CSBLFCBS
3FBS#SBLF
t$IFDLGSFFHBQPGSFBSCSBLFCBS
t'SFFHBQNN JO
4DIFEVMFE.BJOUFOBODF
'SPOU-BNQ"EKVTUNFOU
6/%&34*%&0'$07&3
3PUBUFOVUUPBEKVTUGSFFHBQXIFOJU
FYDFFETQSPQFSBEKVTUNFOU
5VSONBJOTXJUDIUPiPOwBOETUBSU
FOHJOF
3PUBUFBEKVTUJOHTDSFXPGGSPOUMBNQ
UPBJNUIFMJHIU
"%+645.&/54$3&8
$MVUDI&OHBHFNFOU
4UBSUFOHJOFBOEJODSFBTF31.TMPXMZ
UPDIFDLQFSGPSNBODFPGDMVUDI
t$MVUDITIPVMEFOHBHFBU
31.
t4FSWJDFBOESFQMBDFDMVUDIBT
OFDFTTBSZTIPVMETMJQQBHFPDDVS
'SPOU4VTQFOTJPO
1VMMGSPOUCSBLFCBSUJHIUMZBOE
DPNQSFTTGSPOUGPSVQBOEEPXOUPDIFDL
JUTQFSGPSNBODF
$IFDLGPSMFBLBHFPGGSPOUGPSBOEPS
TPGUTQSJOHT
3FBS4VTQFOTJPO
$PNQSFTTSFBSTIPDLTVQBOEEPXO
UPDIFDLQFSGPSNBODF
$IFDLGPSMFBLBHFPGSFBSTIPDLPS
TPGUTQSJOHT
4VTQFOESFBSXIFFMBOEQVTIJUMFGU
BOESJHIUUPDIFDLFOHJOFTVTQFOTJPO
TMFFWFGPSXFBS
4DIFEVMFE.BJOUFOBODF
/VUBOE#PMU5JHIUOFTT
$IFDLBMMOVUTBOECPMUTGPSQSPQFSUJHIUOFTT
"EKVTUUPSRVFBTOFDFTTBSZ
$PMMBS3JN5JSF
$IFDLUJSFQSFTTVSF
.FBTVSFUJSFQSFTTVSFXIFOUJSFJTDPME
"JS1SFTTVSF
'SPOU5JSF
LHDN
QTJ
3FBS5JSF
LHDN
QTJ
5JSF4UBOEBSET
t'SPOUUJSFY
t3FBSUJSFY
$IFDLJGGSPOUXIFFMBYMFIBTTMBDL
$IFDLJGSFBSXIFFMBYMFOVUIBTTMBDL
5JHIUFOXIFOOFDFTTBSZUPTUJQVMBUFEUPSRVFJG
UIFSFJTTMBDL
5PSRVF
t'SPOUXIFFMBYMFOVULHNGUMCT
t3FBSXIFFMBYMFOVULHNGUMCT
#(%#+ 4)2%
02%3352%
4DIFEVMFE.BJOUFOBODF
4UFFSJOH
4XJOHIBOEMFCBSTMFGUBOESJHIU
UPDIFDLJGUIFSFJTJOUFSGFSFODF
GSPNUIFXJSFT
(SBTQIBOEMFCBSTBOESPUBUF
GSPNMFGUUPSJHIUXIJMFIPMEJOHUIF
GSPOUXIFFMTUSBJHIU5IFSFTIPVME
CFTMJQQBHF
$IFDLTUFFSJOHCFBSJOH
BEKVTUNFOU'PSLTIPVMEUVSOGSFFMZ
XJUIQMBZJOCFBSJOH
-VCSJDBUJOH4ZTUFN
-VCSJDBUJOH4ZTUFN
30$,&3"3.
$3"/,4)"'5
'*-5&34$3&&/
&/(*/&0*-16.1
-VCSJDBUJOH4ZTUFN
5PQJD
1BHF
5PQJD
1BHF
0WFSBMMFOHJOFSFRVJSFNFOUT
1SPCMFNEJBHOPTJT
&OHJOFPJMmMUFSTDSFFO
0JM7PMVNF
0JM$IBOHFE
&OHJOF0JM1VNQ3FNPWBM
0JM1VNQ%JTBTTFNCMZ
$IFDLJOH
"TTFNCMJOH
*OTUBMMBUJPO
0WFSBMM&OHJOF3FRVJSFNFOUT
4QFDJBM"UUFOUJPO
6TFQSPQFSNPUPSPJM4"&8
6TFPOMZDMFBO
GSFTIPJM
%POPUSFCVJMEPJMQVNQ3FQMBDFXJUIBOFXQVNQXIFOOFFEFE
$IFDLGPSMFBLBHFBGUFSSFQMBDJOHQVNQ
#BTJD.BUFSJBM
*UFN
&OHJOFPJMQVNQ
/VONVMWBMVF
3FQMBDFBU
(BQCFUXFFOJOOFSSPUBUPSBOEFYUFSOBMSPUPS
NNJO
(BQCFUXFFOFYUFSOBMSPUPSBOEQVNQCPEZ
NNJO
NN
JO
NNJO
(BQCFUXFFOBOETVSGBDFPGSPUPSBOEQVNQCPEZ
1SPCMFN%JBHOPTJT
-PTTPGFOHJOFPJM
t&OHJOFPJMOBUVSBMDPOTVNQUJPO
t&OHJOFPJMMFBLBHF
t1JTUPOSJOHXFBS
CBEBTTFNCMZ
t7BMWFHVJEFPJMTFBMJTXPSO
/PPJMQSFTTVSF
t1VNQXPSO
t6TFPGXSPOHPJM
t0JMMFWFMMPX
&OHJOFCVSOJOHFYDFTTJWFPJM
t#MPDLFEPJMQBTTBHF
t6TFPGXSPOHPJM
t8PSOSJOHT
t7BMWFTXPSOPSEBNBHFE
-VCSJDBUJOH4ZTUFN
&OHJOF0JM'JMUFS4DSFFO
0JM7PMVNF
$IFDLPJMXJUITDPPUFSQBSLFEPOMFWFM
HSPVOEPODFOUFSTUBOE
4DPPUFSNVTUCFPODFOUFSTUBOE
XIFOPJMWPMVNFJTDIFDLFE
3VOFOHJOFGPSUXPPSUISFFNJOVUFT
BOEUIFOUVSOJUPGG"GUFSUXPUPUISFF
NJOVUFT
DIFDLUIFPJMMFWFM
$IFDLUIFPJMMFWFMXIFOUIFPJMEJQTUJDLJT
VOTDSFXFEBOEPVU
"EEPJMUPVQQFSMJNJUMFWFMPOUIFEJQTUJDL
%*145*$,
0JM$IBOHFE
*UJTFBTJFSUPESBJOPJMXIFONPUPSJT
XBSN
3FNPWFESBJOCPMUUPDPNQMFUFMZESBJOPJM
%JTBTTFNCMFUIFPJMmMUFSTDSFFODPWFS
BOEUBLFPGGUIFPJMmMUFSTDSFFO6TF
IJHIQSFTTVSFBJSUPDMFBOUIFmMUFSTDSFFO
8BTIXJUITPMWFOUBOEESZCFGPSFSFJOTUBMMJOH
$IFDLPSJOHGPSEBNBHF3FQMBDFJG
OFDFTTBSZ
"TTFNCMFFOHJOFPJMmMUFSTDSFFOBOEmMUFS
TDSFFODPWFS
t5PSTJPOWBMVFLHN
GUMCT
"EEBTTJHOFEPJMUPEFUFSNJOFEWPMVNF
%3"*/#0-5
t&OHJOFPJMDBQBDJUZt&4
$IFDLGPSPJMMFBLT
3VOFOHJOFGPSNJOVUFTBUJEMFTQFFE
5VSOFOHJOFPGGBOEDIFDLPJMMFWFM"EE
PJMJGOFFEFE
*-'*-5&34$3&&/
3*/(