BMW - 135i - Brochure - 2012 - 2012

#.8 4FSJFT $PVQF J J 5IF 6MUJNBUF %SJWJOH .BDIJOFn 5)& /&8 #.8 4&3*&4 $061& .",& 5)& $*5: 4 )&"35 #&"5 '"45&3 #.8 &GGJDJFOU%ZOBNJDT -FTT FNJTTJPOT .PSF ESJWJOH QMFBTVSF 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5IF #.8 4FSJFT $PVQF $0.1"$5 %&4*(/ -*.*5-&44 '6/ )JHIMJHIUT 6QEBUFE BOE SFBEZ UP ESJWF &YUFSJPS $PVQF DPOUPVST #.8 BUUJUVEF 1FSGPSNBODF *OTQJSJOH QFSGPSNBODF 5IF #.8 J $PVQF 4FUT UIF QBDF #.8 $POOFDUFE%SJWF 4UBZ DPOOFDUFE -JHIUJOH EFTJHO #SJMMJBOU GSPN GSPOU UP CBDL #.8 &G DJFOU%ZOBNJDT "MXBZT UIJOLJOH BIFBE 5IF XJOET PG DIBOHF 5IF #.8 J $PVQF XJUI UIF "JS $VSUBJO *OUFSJPS -VYVSZ DPNGPSU BOE TQBDF " SNMZ IFME CFMJFG JO DPNGPSU 4QPSU TFBUT UIBU UBLF TFBUJOH UP UIF OFYU MFWFM $POUFOUT 5FDIOPMPHZ *//07"5*0/ .&&54 */41*3"5*0/ #.8 &G DJFOU%ZOBNJDT 5FDIOPMPHZ UIBU SFEVDFT GVFM DPOTVNQUJPO BOE FOIBODFT QFSGPSNBODF &RVJQNFOU 0WFSWJFX &RVJQNFOU DIBSUT 5)& 7&34"5*-& #.8 4&3*&4 $061& $PNCJOBUJPO FYBNQMFT 5FDIOJDBM EBUB "4 */%*7*%6""4 :06 "3& &YUFSJPS DPMPST 8BOU UIF JOTJEF TDPPQ PO #.8 :PV DBO OE VT PO 'BDFCPPLn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#.8 4FSJFT $PVQF 41035: 3&410/4*7& %&4*3"#-& " 536& #.8 03*(*/"- "("*/ 3FEJTDPWFS UIF )JHIMJHIUT 5)& 4&3*&4 $061& *.1307*/( 0/ (3&"5 *U TUBSUT XJUI B XJOOJOH GPVOEBUJPO )BJMFE BT B QPQVMBS BOE DSJUJDBM GBWPSJUF VQPO JUT 6 4 EFCVU UIF 4FSJFT QFSGFDUMZ DBQUVSFE UIF TQJSJU PG #.8 XJUI B TJNQMF ZFU QPXFSGVM GPSNVMB 8IFO DSFBUJOH UIF 4FSJFT $PVQF JU XBT POMZ OBUVSBM UIBU #.8 EFTJHOFST BOE FOHJOFFST XPVME SFUBJO XIBU NBEF UIF PSJHJOBM B TVDDFTT JUT DPNQBDU EFTJHO FYUFOTJWF VTF PG MJHIUXFJHIU DPNQPOFOUT BOE BEEJDUJWF QPXFS PG IJHI QFSGPSNBODF TJY DZMJOEFS FOHJOFT 'SPN UIFSF #.8 BEEFE OFX GFBUVSFT JOTJEF BOE PVU 'PS FYBNQMF OFX MJHIU DMVTUFST GSPOU BOE SFBS JODMVEF - TIBQF -&% UBJMMJHIUT UIBU MJLF UIF JMMVNJOBUFE FZFCSPXT PG UIF GSPOU MJHIU BTTFNCMZ BEE B EJTUJODUJWF BOE IJHIMZ WJTJCMF BDDFOU *OTJEF OFX TXJUDIFT DPOUSPMT BOE USJN MFOE FWFO NPSF FMFHBODF BOE DPOWFOJFODF UP UIF DPNGPSUBCMF DBCJO %JTDPWFS IPX B WFIJDMF UIBU BMSFBEZ NBLFT BMM UIF SJHIU NPWFT DBO CF USBOTGPSNFE JOUP TPNFUIJOH FWFO CFUUFS UIF 4FSJFT $PVQF 'PS EFUBJMT PO UIF BWBJMBCJMJUZ PG TUBOEBSE BOE PQUJPOBM GFBUVSFT QMFBTF SFGFS UP UIF &RVJQNFOU DIBSUT TFDUJPO BU UIF CBDL PG UIJT CSPDIVSF &YUFSJPS 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#.8 J $PVQF /0 05)&3 $061& $"/ 536-: ,&&1 61 5IF 5IF 4FSJFT JT B QFSGFDU JUFSBUJPO PG UIF #.8 TQJSJU BOE UIF J $PVQF JT UIF QVSFTU TQPSUJFTU WFSTJPO PG UIF 4FSJFT ZFU 5IJT DPNQBDU ZFU QPXFSGVM UXP EPPS NBLFT BMM UIF SJHIU NPWFT UP LFFQ FWFO UIF NPTU EJTDFSOJOH ESJWFST IBQQZ -PPL CFZPOE UIF GPSNJEBCMF IQ 5XJO1PXFS 5VSCP TJY DZMJOEFS FOHJOF BOE PQUJPOBM TQFFE %PVCMF $MVUDI 5SBOTNJT TJPO UIF J JODPSQPSBUFT TFWFSBM JNQSFTTJWF VQHSBEFT UIBU VQIPME JUT IJHI QFSGPSNBODF IFSJUBHF .PTU OPUBCMZ UIF TUBOEBSE "FSPEZOBNJD LJU PGGFST NFUJDVMPVTMZ FOHJOFFSFE GSPOU BOE SFBS BQSPOT BT XFMM BT EZOBNJD TJEF TLJSUT BMM EFTJHOFE UP JNQSPWF BJS PX BSPVOE UIF WFIJDMF %FUBJMT MJLF UIFTF TFU UIF J $PVQF BQBSU GSPN JUT DPNQFUJUPST CZ TFWFSBM DBS MFOHUIT J $PVQF 'PS EFUBJMT PO UIF BWBJMBCJMJUZ PG TUBOEBSE BOE PQUJPOBM GFBUVSFT QMFBTF SFGFS UP UIF &RVJQNFOU DIBSUT TFDUJPO BU UIF CBDL PG UIJT CSPDIVSF 5IF #.8 #.8 $POOFDUFE%SJWF *O UPVDI XJUI ZPVS XPSME #.8 $POOFDUFE%SJWF $-"44*$ %3*7*/( 5)3*--4 .&&5 5)& 45 $&/563: 'PS EFUBJMT PO UIF BWBJMBCJMJUZ PG TUBOEBSE BOE PQUJPOBM GFBUVSFT QMFBTF SFGFS UP UIF &RVJQNFOU DIBSUT TFDUJPO BU UIF CBDL PG UIJT CSPDIVSF "OPUIFS CFOF U PG #MVFUPPUI DPOOFDUJWJUZ UIF BCJMJUZ UP TUSFBN NVTJD XJSFMFTTMZ GSPN ZPVS NFEJB QMBZFS PS NPCJMF EFWJDF SJHIU UISPVHI ZPVS #.8 T TQFBLFS TZTUFN $POOFDU ZPVS J1IPOFn PS J1PEn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n TFBSDI EPOF PO ZPVS J%SJWF %JTQMBZ TDSFFO OPU POMZ OET UIF BEESFTT CVU TFOET JU UP ZPVS /BWJHBUJPO TZTUFN UP EJSFDU ZPV UIFSF 8BOU UP DIFDL ZPVS UFYU NFTTBHFT " 5FYU UP TQFFDI GFBUVSF SFBET UIFN BMPVE BMMPXJOH ZPV UP LFFQ ZPVS FZFT PO UIF SPBE /FFE UP SFUVSO B NJTTFE DBMM "EWBODFE #MVFUPPUIn DPO OFDUJWJUZ BMPOH XJUI FOIBODFE J%SJWF GVODUJPOBMJUZ NBLFT JU FBTZ UP EP TP GSPN ZPVS #.8 ZPV DBO FWFO VTF ZPVS %JTQMBZ TDSFFO UP WJFX ZPVS QIPOFCPPL JOGP BU B HMBODF -JHIUJOH EFTJHO #3*--*"/5 '30. '30/5 50 #"$, /P EFUBJM JT UBLFO UPP MJHIUMZ 1SPPG UIBU OP FMFNFOU HPFT VOOPUJDFE CZ PVS EFTJHOFST UIF QFSTPOBMJUZ PG UIF 4FSJFT $PVQF JT JNNFEJBUFMZ FWJEFOU FWFO JO UIF OFX MJHIU BTTFNCMJFT BU UIF GSPOU BOE SFBS " NPSF DPODFOUSBUFE MPPL JT UIF STU UIJOH ZPV MM OPUJDF XIFO GBDJOH UIF WFIJDMF IFBE PO 5IF VOJRVF FZFCSPX EFTJHO JT CPMTUFSFE CZ UIF 9FOPO "EBQUJWF )FBEMJHIUT XJUI -&% BDDFOUT UIBU DPO EFOUMZ QJFSDF UIF OJHIU BJS $PSPOB IFBEMJHIU SJOHT BEE BOPUIFS #.8 TJHOBUVSF FMFNFOU *O UIF SFBS OFXMZ EFTJHOFE - TIBQF UBJMMJHIUT MFOE B TQPSUJFS MPPL FTQFDJBMMZ XIFO DPNQMFNFOUFE CZ CSJMMJBOU -&% MJHIUJOH 5IF 4FSJFT $PVQF FWFO BEET BDUJWF TBGFUZ JOUP UIJT JMMVNJOBUJOH FRVBUJPO UIF 9FOPO "EBQUJWF )FBEMJHIUT DPNF FRVJQQFE XJUI JOUFHSBUFE $PSOFSJOH -JHIUT UIBU TXJWFM UP DBTU MJHIU PO FWFSZ UVSO XIJMF "EBQUJWF #SBLFMJHIUT JMMVNJOBUF FWFO NPSF CSJHIUMZ XIFO HSFBUFS TUPQQJOH GPSDF JT VTFE 'PS EFUBJMT PO UIF BWBJMBCJMJUZ PG TUBOEBSE BOE PQUJPOBM GFBUVSFT QMFBTF SFGFS UP UIF &RVJQNFOU DIBSUT TFDUJPO BU UIF CBDL PG UIJT CSPDIVSF 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5)& 8*/%4 0' $)"/(& 5IF "JS $VSUBJO XIJDI SFEVDFT BJS SFTJTUBODF BU UIF XIFFM BSDIFT PG UIF #.8 J XBT EFWFMPQFE JO UIF UVSCVMFOU SPBS PG B OFX IJHI UFDI XJOE UVOOFM *O UIF HJBOU XJOE UVOOFM BU UIF #.8 (SPVQ T "FSPEZOBNJD 5FTU $FOUFS JO .VOJDI ESJWJOH SFBMJUZ JT UVSOFE JOTJEF PVU JU T UIF WFIJDMF UIBU TUBZT TUJMM XIJMF JUT FOWJSPONFOU NPWFT BSPVOE JU " IVHF SPUPS UIBU DPOTVNFT NFHBXBUUT PG QPXFS ESJWFT DVCJD ZBSET PG BJS BSPVOE BO BJS PX SJOH #FGPSF SFBDIJOH UIF UFTU USBDL UIF BJS JT GPSDFE UISPVHI B EVDU UP BDDFMFSBUF JUT TQFFE TJY UJNFT 3PBE DPOEJUJPOT BSF TJNVMBUFE VTJOH WF UIJO TUFFM SPMMJOH USBDLT 5IF XIFFMT PG UIF UFTU WFIJDMF BSF ESJWFO CZ GPVS OBSSPX CFMUT XIJMF UIF MPOH DFOUSBM CFMU VOEFS UIF DBS NPWFT BU FYBDUMZ UIF TBNF TQFFE 5IJT DPNQMFY BSSBOHFNFOU FOTVSFT UIBU UIF BJS PX BU UIF DBS T VOEFS DBSSJBHF XIFFMT BOE XIFFM BSDIFT JT BMNPTU JEFOUJDBM UP UIBU PG B SFBM ESJWJOH TJUVBUJPO *U T BT JG UIF WFSZ SPBE JUTFMG XFSF CFJOH QVU UP UIF UFTU 8IFO JU DPNFT UP BFSPEZOBNJDT B QFSDFOU SFEVDUJPO JO BJS SFTJTUBODF MFBET UP B HPPE QFSDFOU SFEVDUJPO JO GVFM DPOTVNQUJPO 3JHIU 5IF BJS PX PWFS UIF #.8 4FSJFT $PVQF JT NBEF WJTJCMF CZ NFBOT PG B TNPLF USBDFS 5IF TMJHIUFS UIF UVSCVMFODF DSFBUFE UIF MPXFS UIF BJS SFTJTUBODF "MUIPVHI UIF 4FSJFT $PVQF CPEZ JT BMSFBEZ BFSPEZOBNJDBMMZ PQUJNJ[FE JU BDDPVOUT GPS POMZ QFSDFOU PG UIF WFIJDMF T UPUBM BJS SFTJT UBODF "O BEEJUJPOBM UFO QFSDFOU JT DBVTFE CZ UIF DPPMJOH BJS GPS UIF FOHJOF USBOTNJTTJPO BOE CSBLFT QFSDFOU GSPN UIF WFIJDMF VOEFS CPEZ BOE UIF OBM QFSDFOU JT QSPEVDFE BU UIF XIFFMT BOE UIF XIFFM BSDIFT *O BMM UIFTF BSFBT UIF 4FSJFT $PVQF TUJMM IBE SPPN GPS JNQSPWFNFOU 5IJT "FSPEZOBNJD 5FTU $FOUFS UFTUJOH IBT ZJFMEFE BO JOOPWBUJWF TPMVUJPO UIF OFX "JS $VSUBJO JO UIF GSPOU BJS EBN XIJDI NBLFT JUT EFCVU JO UIF J 5IJT EZOBNJD GFBUVSF QSPUFDUT UIF GSPOU XIFFMT GSPN IFBEXJOE BOE SFEVDFT UVSCVMFODF PWFS UIF GSPOU UJSFT "JS JT UBLFO JO UISPVHI WFOUT JO UIF GSPOU BJS EBN "T UIF WFOU EVDUT OBSSPX UIF BJS QJDLT VQ TQFFE *U FYJUT BU IJHI TQFFE UISPVHI OBS SPX TMJUT DPWFSJOH UIF PVUFS GBDF PG UIF GSPOU XIFFMT MJLF B DVSUBJO 5IJT "JS $VSUBJO BDUT MJLF BO JOWJTJCMF XIFFM DPWFS JNQFSDFQUJCMF ZFU IJHIMZ FGGFDUJWF -FGU "FSPEZOBNJDT FYQFSJNFOUT JO UIF HJBOU UFTUJOH CBZ BSF DPOUSPMMFE GSPN UIF XJOE UVOOFM T DPOUSPM SPPN 6TFE JO DPOKVODUJPO XJUI UIF PQUJNJ[FE DPPMJOH BJS EVDUT BOE B TNPPUIFE PGG VOEFS DBSSJBHF UIF OFX "JS $VSUBJO QSPWJEFT UIF J XJUI BO FYDFMMFOU BJS SFTJTUBODF DPFG DJFOU BT XFMM BT SFEVDFE VQMJGU 5IF SFTVMU JNQSPWFE GVFM FG DJFODZ BOE JODSFBTFE WFIJDMF TUBCJMJUZ 5P UIF SFBS PG UIF UFTU USBDL UBMM IFNJTQIFSJDBM QBSUJUJPOT HVJEF UIF BJS PX CBDL JO UIF PQQPTJUF EJSFDUJPO 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#BSFMZ WJTJCMF BU HSPVOE MFWFM PG UIF GSPOU BJS EBN UIF "JS $VSUBJO PO UIF #.8 J $PVQF TUSFBNT BJS UISPVHI OBSSPX WFOUT 5IJT BJS JT UIFO BDDFMFSBUFE BOE GPSDFE PVU BU FWFO IJHIFS TQFFE BDSPTT UIF GSPOU XIFFMT XIFSF JU DSFBUFT BO BJS DVSUBJO "MUIPVHI JU TFFNT B TNBMM TJNQMF EFUBJM UIJT JOOPWBUJPO SFEVDFT BJS SFTJTUBODF XIJDI JO UVSO MFBET UP BO JNQSPWFNFOU JO TUBCJMJUZ BOE B SFEVDUJPO JO GVFM DPOTVNQUJPO *U T B HSFBU FYBNQMF PG IPX FWFO VOBTTVNJOH #.8 DPNQPOFOUT DBO IBWF B MBSHFS FGGFDU 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$IBTTJT BOE TBGFUZ */ 5)& 4&3*&4 $061& * . $0//&$5&% 50 &7&3: */$) 0' 5)& 30"% 5BDLMF UIF NPTU DIBMMFOHJOH SPBET XJUIPVU DPNQSPNJTJOH PO DPOUSPM UIF #.8 4FSJFT $PVQF NBLFT UIJT QPTTJCMF XJUI JOOPWBUJWF TVTQFOTJPO UFDIOPMPHJFT 0VS FOHJOFFST DPOTUSVDU UIF NPTU BEWBODFE TVTQFOTJPOT JO PSEFS UP IBOEMF FWFSZ DIBMMFOHF GBDFE PO UIF QBWFNFOU GSPN IJHIXBZT UP CBDL SPBET '30. 5)& (306/% 61 "/ &9$&15*0/"- 4641&/4*0/ "DUJWF 4UFFSJOH 'VSUIFS FOIBODJOH UIF RVBMJUZ PG UIF ESJWJOH FYQFSJFODF "DUJWF 4UFFSJOH JT BWBJMBCMF JO UIF J 5IJT TZTUFN BEKVTUT CPUI TUFFSJOH SBUJP BOE TUFFSJOH GPSDF JO SFMBUJPO UP ESJWJOH TQFFE "U MPX UP NFEJVN TQFFET B TNBMM UVSO PG UIF TUFFSJOH XIFFM USBOTMBUFT JOUP B CJH UVSO PG UIF GSPOU XIFFMT :PV FOKPZ NPSF BHJMJUZ JO DJUZ ESJWJOH RVJDLFS UVSOT PO UXJTUJOH SPBET BOE FBTJFS QBSLJOH NBOFVWFST "U IJHIFS TQFFET B MBSHFS UVSO PG UIF TUFFSJOH XIFFM JT OFFEFE UP UVSO UIF GSPOU XIFFMT SFTVMUJOH JO HSFBUFS TUSBJHIU MJOF TUBCJMJUZ TQFFE %PVCMF $MVUDI 5SBOTNJTTJPO %$5 "WBJMBCMF JO UIF J UIJT USBOTNJTTJPO GFBUVSFT UXP TFQBSBUF DMVUDIFT GPS UIF PEE BOE FWFO HFBST 8IFO POF HFBS JT EJTFOHBHJOH UIF OFYU POF JT BMSFBEZ FOHBHFE :PV FYQFSJFODF MJHIUOJOH RVJDL HFBS TIJGUT XJUI NBYJNVN QSFDJTJPO GPS BDDFMFSBUJPO XJUIPVU JOUFSSVQUJPO PG QPXFS 8IFO ZPV QSFGFS IBOET PO DPOUSPM CPUI UIF SBDJOH JOTQJSFE TUFFSJOH XIFFM NPVOUFE QBEEMF TIJGUFST BOE UIF HFBS TIJGU MFWFS BMMPX DMVUDIMFTT TIJGUJOH 'SPN OFBS QFSGFDU XFJHIU EJTUSJCVUJPO UP UIF TQPSUZ BOE SFTQPOTJWF IBOEMJOH PG UIF WFIJDMF BU IJHIXBZ TQFFET UIF 4FSJFT $PVQF JT CVJMU PO B GPVOEBUJPO BT SFWPMVUJPOBSZ BT UIF SFTU PG UIF WFIJDMF "GUFS BMM ZPVS DMPTFTU MJOL UP UIF FYIJMBSBUJPO PG ESJWJOH B #.8 JT BU HSPVOE MFWFM 3FBE PO UP OE PVU NPSF -JHIUXFJHIU TVTQFOTJPO *O UIF 4FSJFT $PVQF UIF SJHJE ZFU MJHIUXFJHIU TVTQFOTJPO JT UIF QFSGFDU DPVOUFSQBSU UP UIF FOHJOF )PX UIF DBS SFBDUT UP UIF SPBE BT XFMM BT JUT TVQFSC IBOEMJOH PG BDPVTUJDT BOE WJCSBUJPOT BSF B SFTVMU PG UIF BEWBODFE FOHJOFFSJOH CFIJOE UIJT DSVDJBM MJOL UP UIF SPBE 5IF BMVNJOVN EPVCMF QJWPU GSPOU TVTQFOTJPO DPOTJTUT PG B MJHIUXFJHIU UXJO KPJOU UFOTJPO TUSVU EFTJHO GPS NBYJNVN TUSFOHUI XJUI NJOJNVN XFJHIU IZESP NPVOUT SFEVDF WJCSBUJPO BOE OPJTF 5PHFUIFS XJUI UIF WF MJOL GVMMZ JOEFQFOEFOU SFBS TVTQFOTJPO JO MJHIUXFJHIU TUFFM BOE #.8 T TJHOBUVSF SFBS XIFFM ESJWF TVQFSCMZ TQPSUZ IBOEMJOH JT QBS GPS BOZ ESJWJOH DPVSTF /FBS XFJHIU EJTUSJCVUJPO 5IF GSPOU BOE SFBS BYMFT FBDI DBSSZ BMNPTU FYBDUMZ IBMG PG UIF DBS T XFJHIU #BMBODFE XFJHIU HJWFT UIF 4FSJFT $PVQF OFVUSBM TUFFSJOH BOE PVUTUBOEJOH EJSFDUJPOBM TUBCJMJUZ 8JUI B TQPSU UVOFE TVTQFO TJPO BOE TUBOEBSE %ZOBNJD 4UBCJMJUZ $POUSPM JU SFNBJOT TUBCMF JO WJSUVBMMZ BMM SPBE DPOEJUJPOT 'PS EFUBJMT PO UIF BWBJMBCJMJUZ PG TUBOEBSE BOE PQUJPOBM GFBUVSFT QMFBTF SFGFS UP UIF &RVJQNFOU DIBSUT TFDUJPO BU UIF CBDL PG UIJT CSPDIVSF 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#.8 $POOFDUFE%SJWF *O UPVDI XJUI ZPVS XPSME #.8 $POOFDUFE%SJWF 5IF XPSME IBT CFDPNF POF HJBOU OFUXPSL JO XIJDI XF BSF BMM DPOOFDUFE #.8 ESJWFST OFFE UP TUBZ JO UPVDI TP UIBU UIFZ DBO TFBSDI GPS JOGPSNBUJPO DPNNVOJDBUF WJB UFMFQIPOF PS FNBJM BOE BMXBZT CF VQ UP EBUF XIJMF UIFZ SF PO UIF HP #.8 T TPMVUJPO #.8 $POOFDUFE%SJWF B TVJUF PG UFDIOPMPHJFT UIBU EFMJWFST BMM UIF TFSWJDFT BOE JOOPWBUJWF UFDIOPMPHJFT UIBU MJOL #.8 WFIJDMFT BOE UIFJS QBTTFOHFST XJUI UIF XPSME PVUTJEF /PX CFJOH JO ZPVS WFIJDMF EPFTO U NFBO ZPV IBWF UP UBLF UJNF PVU GSPN ZPVS MJGF #.8 $0//&$5&% %3*7& %3*7&3 7&)*$-& "/% 803-% */5&--*(&/5-: /&5803,&% 5PEBZ T UFDIOPMPHZ BMMPXT HSFBUFS JOUFSBDUJWJUZ CFUXFFO WFIJDMFT DPOTVNFS FMFDUSPOJDT UIF JOUFSOFU BOE UIF ESJWFS *O B #.8 UIJT JT DBMMFE $POOFDUFE%SJWF #.8 $POOFDUFE%SJWF PGGFST JOOPWBUJPOT JO UIF BSFBT PG DPOWFOJFODF TBGFUZ BOE JOGPUBJONFOU "MUIPVHI UIFTF FMFDUSPOJD TZTUFNT XJMM OFWFS SFQMBDF UIF KPZ PG ESJWJOH UIFZ EP FOIBODF UIF ESJWJOH FYQFSJFODF 5BLF GPS FYBNQMF #.8 T PO CPBSE /BWJHBUJPO TZTUFN XIJDI IFMQT ZPV QMBO ZPVS SPVUF BOE BMTP IFMQT ZPV BWPJE USBG D KBNT CZ QSPWJEJOH 3FBM 5JNF 5SBG D *OGPSNBUJPO JUT IBSE ESJWF FWFO IBT SPPN UP TUPSF ZPVS GBWPSJUF NVTJD $PODFSOFE BCPVU UIF XFBUIFS ZPV MM FODPVOUFS PO ZPVS USJQ 8JUI #.8 0OMJOF ZPV DBO BDDFTT DVSSFOU XFBUIFS DPOEJUJPOT BT XFMM BT DIFDL UIF MBUFTU GPSFDBTU "OE UP IFMQ ZPV CBDL JOUP UIBU UJHIU QBSLJOH TQBDF VUJMJ[F 1BSL %JTUBODF $POUSPM BOE WJFX ZPVS QSPHSFTT PO UIF %JTQMBZ TDSFFO UP NBLF QBSLJOH FBTJFS UIBO JU IBT FWFS CFFO /P NBUUFS XIFSF ZPV HP JO B #.8 ZPV SF DPOOFDUFE XJUI UIF XPSME #.8 T PO CPBSE /BWJHBUJPO TZTUFN VTFT (MPCBM 1PTJUJPOJOH 4ZTUFN (14 TBUFMMJUFT BOE EBUB TUPSFE PO BO JOUFSOBM IBSE ESJWF UP HVJEF ZPV UP ZPVS EFTUJOBUJPO XIJDI JT EJTQMBZFE PO B IJHI SFTPMVUJPO TDSFFO &OIBODFNFOUT JODMVEF % EBZUJNF BOE OJHIUUJNF NBQT [PPN USBWFM QMBOOFS BOE BO "TTJTUBODF 8JOEPX 5IF TZTUFN BMTP PGGFST 7PJDF DPN NBOE GPS DPOWFOJFOU IBOET GSFF PQFSBUJPO BOE (# PG TUPSBHF GPS ZPVS GBWPSJUF NFEJB MFT 0OMJOF JOGPSNBUJPO TFSWJDFT JODMVEF .Z*OGP XIJDI BMMPXT (PPHMF .BQT EFTUJOBUJPOT UP CF TFOU UP ZPVS WFIJDMF BT XFMM BT #.8 0OMJOF XIFO ZPVS WFIJDMF JT BMTP FRVJQQFE XJUI #.8 "TTJTU $POWFOJFODF 4FSWJDFT #.8 0OMJOF MFUT ZPV LOPX UIF MBUFTU XFBUIFS GPSFDBTUT BEWJTPSJFT BOE XBSOJOHT BT XFMM BT OFXT TUPDL JOEJDFT BOE NPSF BMM TIPXO PO UIF $POUSPM %JTQMBZ JOTJEF ZPVS WFIJDMF 1BSL %JTUBODF $POUSPM 1%$ VTFT VMUSBTPOJD TFOTPST JO UIF SFBS CVNQFS UP IFMQ ZPV KVEHF UIF EJTUBODF UP PUIFS WFIJDMFT BOE VOTFFO PCKFDUT XIFO QBSLJOH 8IJMF FOHBHFE JO B QBSLJOH NBOFVWFS BDPVTUJD TJHOBMT BOE B WJTVBM JOEJDBUPS TIPXO JO UIF $POUSPM %JTQMBZ DPOUJOVBMMZ QSPWJEF GFFECBDL PO ZPVS QSPHSFTT "T UIF SFBS PG ZPVS WFIJDMF BQQSPBDIFT B TUBUJPOBSZ PCKFDU UIF JNBHF TIPXO PO UIF %JTQMBZ TDSFFO DIBOHFT BOE UIF XBSOJOH CFFQT DPNF GBTUFS BT ZPVS CVNQFS DMPTFT UIF EJTUBODF UP UIF PCKFDU 5P DPNQMFNFOU UIF WJTVBM EJTQMBZ UIF CFFQT UVSO JOUP B DPOTUBOU UPOF XIFO UIF EJTUBODF JT MFTT UIBO JODIFT 4IPXO XJUI #.8 /BWJHBUJPO TZTUFN 'PS EFUBJMT PO UIF BWBJMBCJMJUZ PG TUBOEBSE BOE PQUJPOBM GFBUVSFT QMFBTF SFGFS UP UIF &RVJQNFOU DIBSUT TFDUJPO BU UIF CBDL PG UIJT CSPDIVSF 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n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n BDDPVOUT UP TUBZ PO UPQ PG XIBU T IBQQFOJOH XJUI GSJFOET BOE GBNJMZ 5IF TZTUFN DBO FWFO SFBE QPTUT BMPVE TP ZPV DBO LFFQ ZPVS GPDVT PO UIF SPBE :PV DBO RVJDLMZ QPTU QSFXSJUUFO UXFFUT UIBU BSF GVSUIFS QFSTPOBMJ[FE CZ ZPVS #.8 UP MFU FWFSZPOF LOPX XIFSF ZPV BSF BOE UIBU ZPV SF FOKPZJOH UIF ESJWF "WBJMBCMF JO NPEFMT NBOVGBDUVSFE BT PG "QSJM /PU BMM GFBUVSFT BWBJMBCMF XIJMF WFIJDMF JT JO NPUJPO TFF EFBMFS GPS EFUBJMT 8FC SBEJP BVEJP RVBMJUZ EFQFOET PO UIF CJU SBUF PG UIF TUBUJPO BOE EBUB SFDFQUJPO EFQFOET PO ZPVS DFMM TFSWJDF %BUB USBOTGFS DPNFT PWFS UIF J1IPOF 8IBU T PO UPEBZ T BHFOEB #SJOH VQ UIF $BMFOEBS BOE 5P EP -JTU PO ZPVS %JTQMBZ TDSFFO XIJMF FO SPVUF UP IFMQ ZPV TUBZ PO TDIFEVMF /FFE UP DBMM ZPVS P DMPDL BQQPJOUNFOU 6TF UIF J%SJWF $POUSPMMFS LOPC UP DMJDL PO UIF QIPOF OVNCFS JO UIF $BMFOEBS BOE JU T SJOHJOH .FFUJOH XJUI TFWFSBM QFPQMF $POEVDU DPOGFSFODF DBMMT UIF %JTQMBZ TDSFFO LFFQT ZPV JOGPSNFE PG UIF TUBUVT PG JODPNJOH DBMMT 8IP T DBMMJOH ZPV *G ZPV WF VQMPBEFE QIPUPT UP ZPVS PO CPBSE QIPOFCPPL ZPV MM TFF UIF DBMMFS T QJDUVSF &WFO NJTTFE DBMMT BSF MJTUFE PO UIF %JTQMBZ TDSFFO *U T OFWFS CFFO FBTJFS UP TUBZ JO UPVDI XIJMF JO USBOTJU &OIBODFE GVODUJPOT GPS UIF J1PEn BOE 64# BEBQUFS BEE UP UIF FBTF BOE QMFBTVSF PG VTJOH ZPVS J1PE PS J1IPOF n 8BOU UP LOPX XIJDI $% UIBU TPOH DPNFT GSPN 5IF BMCVN DPWFS JT TIPXO PO ZPVS %JTQMBZ TDSFFO %PO U QVSDIBTF BEEJUJPOBM DBCMFT ZPVS J1PE PS J1IPOF T PSJHJOBM 64# DBCMF DPOOFDUT UP ZPVS #.8 T 64# QPSU "OPUIFS SBSF GFBUVSF XJUI #.8 "TTJTU BOE #MVFUPPUI BVEJP TUSFBNJOH ZPV DBO XJSFMFTTMZ QMBZ NVTJD UISPVHI UIF #.8 BVEJP TZTUFN GSPN BOZ #MVFUPPUI DPNQBUJCMF NVTJD QMBZFS PS NPCJMF QIPOF GSPN BOZXIFSF JO ZPVS WFIJDMF *O GBDU UIF BVEJP MJCSBSZ BQQFBST PO UIF %JTQMBZ TDSFFO XIFSF ZPV DBO VTF UIF J%SJWF $POUSPMMFS LOPC UP NBLF ZPVS TFMFDUJPO 8IFO ZPV TFMFDU 1MVH*O GSPN UIF #.8 "QQT NFOV UIF J1IPOF FYQPSUT B UZQJDBM J1PE MPPL BOE DPOUSPM UP ZPVS #.8 UISPVHI UIF WJEFP DPOOFDUJPO :PV DBO UIFO TFBSDI GPS ZPVS GBWPSJUF NVTJD CZ QMBZMJTU BSUJTU BMCVN TPOH HFOSF PS DPNQPTFS KVTU BT ZPV XPVME PO ZPVS J1IPOF 1MFBTF OPUF 5IF #.8 "QQ NVTU CF JOTUBMMFE PO ZPVS J1IPOF GPS UIF 1MVH*O UP DPOOFDU .Z*OGP BMMPXT ZPV UP TFOE CVTJOFTT MPDBUJPOT BOE TUSFFU BEESFTTFT UP ZPVS #.8 GSPN (PPHMF .BQT %FTUJOBUJPOT BOE QIPOF OVNCFST DBO CF BDDFTTFE BOE FYQPSUFE UP ZPVS /BWJHBUJPO TZTUFN GPS JNNFEJBUF SPVUF HVJEBODF XIJMF ZPV DBO DBMM UIF EFTUJOBUJPO XJUI ZPVS #MVFUPPUI MJOLFE QIPOF 3FRVJSFT #.8 "QQT PQUJPO BOE BO J1IPOF 'PS EFUBJMT PO UIF BWBJMBCJMJUZ PG TUBOEBSE BOE PQUJPOBM GFBUVSFT QMFBTF SFGFS UP UIF &RVJQNFOU DIBSUT TFDUJPO BU UIF CBDL PG UIJT CSPDIVSF 5&45&% */ (3&&/ )&-- #.8 UFTUT FWFSZ NPEFM PO UIF / SCVSHSJOH BOE UIF #.8 J $PVQF JT OP FYDFQUJPO 'SPN UIFTF SFTVMUT FOHJOFFST BOE EFTJHOFST BSF BCMF UP OF UVOF BEEJUJPOBM NPEJ DBUJPOT #.8 UFTU ESJWFST DPNQMFUFE UIJT XPSME SFOPXOFE SBDJOH DJSDVJU JO BQQSPYJNBUFMZ FJHIU BOE B IBMG NJOVUFT 5IF USBDL XJOET UISPVHI DVSWFT SBDFT BSPVOE TUFFQ CBOLT BOE IVSUMFT QBTU SFE BOE XIJUF TJEF CVNQFST 8FMDPNF UP UIF /PSETDIMFJGF UFTU USBDL BU UIF / SCVSHSJOH BMTP LOPXO BT UIF (SFFO )FMM CZ UIPTF XIP WF FYQFSJFODFE UIJT VOGPSHJWJOH TXBUDI PG QBWFNFOU %SJWFST NBSWFM BU JUT FWFS DIBOHJOH BUUSBDUJPOT FWFO UIPVHI UIFZ BMTP GFBS JUT VOQSFEJDUBCMF NPPET 5IF VOJRVF FNPUJPOT FWPLFE PO UIF / SCVSHSJOH BSF FDIPFE JO FWFSZ #.8 FOHJOFFST EFEJDBUF NBOZ XFFLT FWFSZ ZFBS UP UIF USBDL QVUUJOH #.8 WFIJDMFT UISPVHI UIFJS QBDFT UIF CFUUFS UP VOEFSTUBOE IPX UP BMUFS UIFJS SFTQPOTFT *U T OPU BCPVU TFUUJOH SFDPSET CVU BCPVU BDIJFWJOH DPOTJTUFOUMZ GBTU MBQT TPNFUJNFT SJHIU VQ UP UIF MJNJU " LFZ FMFNFOU PG UIF /PSETDIMFJGF DJSDVJU JT FOEVSBODF UFTUJOH BOE OP USBDL PS UFTU GBDJMJUZ JT BT XFMM TVJUFE BT UIJT +VTU POF DJSDVJU PG UIF FOUJSF / SCVSHSJOH XJUI JUT VQT BOE EPXOT XJMEMZ JOEJWJEVBM MPPQT WBSJFUZ PG SPBE TVSGBDFT BOE GBTU BOE TMPX TFDUJPOT IBT UIF TBNF FGGFDU PO UIF WFIJDMF BT B XIPMF EBZ PG FWFSZEBZ ESJWJOH &WFSZUIJOH UIBU #.8 UFTU ESJWFST IBWF FYQFSJFODFE PO UIF /PSETDIMFJGF TQSJOUT IBT CFFO JODPSQPSBUFE JOUP UIF #.8 4FSJFT $PVQF 5IJT JT OPU KVTU BCPVU FOHJOF PVUQVU CVU BHJMJUZ *NQSFTTJWFMZ UIF J $PVQF FBTJMZ PVUQBDFT TVQQPTFEMZ NPSF QPXFSGVM TQPSUT DBST PO UIF MPPQT BOE IBJSQJO UVSOT PG UIF /PSETDIMFJGF 5IFTF DPNQFUJUPST BSF IFME CBDL CZ UIFJS FYDFTT XFJHIU PWFSCVSEFOFE GSPOU BYMFT PS MBDL PG HSJQ PO UIF ESJWF XIFFMT *O TIPSU UIFZ MBDL UIF QFSGFDUMZ CBMBODFE EFTJHO PG UIF #.8 J $PVQF 5IF SFBS XIFFMT ESJWFO CZ #.8 5XJO1PXFS 5VSCP UFDIOPMPHZ BOE FMFDUSPOJDBMMZ DPOUSPMMFE SFBS BYMF EJGGFSFOUJBM MPDLJOH GVODUJPO USBOTGFS UIF XIPMF PG UIF FOHJOF T QPXFS POUP UIF BTQIBMU "DDFMFSBUJOH PVU PG UIF OBSSPX TMBOUFE DPJMT BU UIF / SCVSHSJOH UIF #.8 J $PVQF OFWFS MPTFT BO JODI PG USBDUJPO 5IF BWBJMBCMF %PVCMF $MVUDI 5SBOTNJTTJPO NBLFT GPS GBTUFS BOE TQPSUJFS HFBS TIJGUT UIBO BOZ PUIFS TZTUFN BT FWJEFODFE CZ UIF MJHIUOJOH GBTU UISJMMT EVSJOH GBTU EPXOTIJGUJOH 5IF VOJRVF EFTJHO PG UIF #.8 4FSJFT $PVQF QMBDFT UIF FOHJOF QBSUMZ CFIJOE UIF GSPOU BYMF VOEFS UIF TUSFUDIFE IPPE 5IJT JT IPX PVS FOHJOFFST BDIJFWFE QFSGFDU XFJHIU EJTUSJCVUJPO CFUXFFO UIF UXP BYMFT *O UIF DPNQBDU $PVQF DPSOFSJOH JT GBTU CVU DPOUSPMMFE 0O UIF / SCVSHSJOH ESJWFST XFSF RVJDL UP QSBJTF UIF OFVUSBM TFOTJUJWF BOE BDDVSBUF TUFFSJOH UIBU JT B SFTVMU PG UIF OFBS QFSGFDU XFJHIU EJTUSJCVUJPO &YQFSJFODF KVTU B GFX MBQT BT ESJWFO CZ B #.8 UFTU ESJWFS BOE ZPV MM SBQJEMZ CFDPNF BXBSF PG XIBU EZOBNJD ESJWJOH USVMZ NFBOT 5IF #.8 4FSJFT $PVQF JT B OBUVSBM PO UIF /PSETDIMFJGF "OE ZPV MM LOPX JU BU FWFSZ CFOE ZPV UBLF 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$PNCJOBUJPO FYBNQMFT $PMPST 4UBOEBSE 0QUJPOBM FRVJQNFOU %PVCMF 4QPLF 4UZMF . MJHIU BMMPZ XIFFMT BOE SVO BU QFSGPSNBODF UJSFT *O GSPOU Y XIFFMT BOE UJSFT JO CBDL Y XIFFMT BOE UJSFT 7 4QPLF 4UZMF MJHIU BMMPZ XIFFMT BOE SVO BU QFSGPSNBODF UJSFT *O GSPOU JO CBDL Y XIFFMT BOE UJSFT %PVCMF 4QPLF 4UZMF . MJHIU BMMPZ XIFFMT BOE SVO BU QFSGPSNBODF UJSFT *O GSPOU Y XIFFMT BOE UJSFT JO CBDL Y XIFFMT UJSFT BOE 4UBOEBSE 0QUJPOBM FRVJQNFOU Y XIFFMT BOE BOE 4UBS 4QPLF 4UZMF MJHIU BMMPZ XIFFMT BOE BMM TFBTPO UJSFT Y SVO BU "FSP 4QPLF 4UZMF MJHIU BMMPZ XIFFMT BOE SVO BU QFSGPSNBODF UJSFT *O GSPOU Y XIFFMT BOE UJSFT JO CBDL Y XIFFMT UJSFT &RVJQNFOU UJSFT Y SVO BU 0QUJPOBM PS JODMVEFE JO PQUJPOBM QBDLBHF 'PS EFUBJMT PO UIF BWBJMBCJMJUZ PG TUBOEBSE BOE PQUJPOBM GFBUVSFT QMFBTF SFGFS UP UIF &RVJQNFOU DIBSUT TFDUJPO BU UIF CBDL PG UIJT CSPDIVSF 4UBOEBSE 4UBS 4QPLF 4UZMF MJHIU BMMPZ XIFFMT BOE BMM TFBTPO UJSFT 3VO GMBU UJSFT EP OPU DPNF FRVJQQFE XJUI B TQBSF UJSF BOE XIFFM 1MFBTF OPUF %SJWJOH PWFS SPVHI PS EBNBHFE SPBE TVSGBDFT BT XFMM BT EFCSJT DVSCT BOE PUIFS PCTUBDMFT DBO DBVTF TFSJPVT EBNBHF UP XIFFMT UJSFT BOE TVTQFOTJPO QBSUT 5IJT JT NPSF MJLFMZ UP PDDVS XJUI MPX QSPGJMF UJSFT XIJDI QSPWJEF MFTT DVTIJPOJOH CFUXFFO UIF XIFFM BOE UIF SPBE #F DBSFGVM UP BWPJE SPBE IB[BSET BOE SFEVDF ZPVS TQFFE FTQFDJBMMZ JG ZPVS WFIJDMF JT FRVJQQFE XJUI MPX QSPGJMF UJSFT 1FSGPSNBODF UJSFT BSF OPU SFDPNNFOEFE GPS ESJWJOH JO TOPX BOE JDF &RVJQNFOU DIBSUT 5FDIOJDBM EBUB TQFFE %PVCMF $MVUDI 5SBOTNJTTJPO %$5 JO UIF J BDIJFWFT TNPPUI MJHIUOJOH RVJDL HFBS DIBOHFT CZ BVUPNBUJDBMMZ TIJGUJOH CFUXFFO UXP USBOTNJTTJPO TUSVDUVSFT XIJMF POF HFBS JT EJTFOHBHJOH UIF OFYU JT BMSFBEZ JO QPTJUJPO 5IF SFTVMU JT RVJDLFS BDDFMFSBUJPO BOE FOIBODFE GVFM FG DJFODZ :PV DBO BMTP TIJGU HFBST NBOVBMMZ WJB TUFFSJOH XIFFM NPVOUFE QBEEMF TIJGUFST PS CZ NPWJOH UIF HFBS TFMFDUPS MFWFS GPSXBSE SFBSXBSE #.8 4FSWJDFT TQFFE NBOVBM USBOTNJTTJPO EFMJWFST B QSFDJTF BUIMFUJD GFFM *UT SFTQPO TJWFOFTT JT EVF JO QBSU UP UIF FOIBODFE TZODISPOJ[BUJPO PG TIJGUT GSPN OFVUSBM UP FBDI HFBS " TIPSUFOFE TIJGU MFWFS BOE UISPX BEE UP UIF TQPSUZ GFFM PG UIF HFBSCPY 5IF TJYUI HFBS ESPQT SFWT BU IJHIXBZ TQFFET GPS TNPPUI DSVJTJOH TQFFE 45&1530/*$ BVUPNBUJD USBOTNJTTJPO JO UIF J PGGFST B DIPJDF PG UISFF NPEFT %SJWF XIJDI JODPSQPSBUFT #.8 T "EBQUJWF 5SBOTNJTTJPO $POUSPM 4QPSU BVUPNBUJD GPS B NPSF EZOBNJD TIJGU QBUUFSO BOE 45&1530/*$ BVUPNBUJD GPS UIF IBOET PO DPOUSPM PG B NBOVBM XJUIPVU VTJOH B DMVUDI 5ISFF TQPLF MFBUIFS XSBQQFE NVMUJ GVODUJPO TQPSU TUFFSJOH XIFFM MFUT ZPV LFFQ CPUI IBOET PO UIF XIFFM XIJMF BEKVTUJOH WBSJPVT DPNGPSU GVODUJPOT TVDI BT DPOUSPMT GPS BVEJP TZTUFN DSVJTF DPOUSPM BOE IBOET GSFF QIPOF DPOUSPMT )FBUFE TUFFSJOH XIFFM NBLFT HMPWFT VOOFDFTTBSZ JO DPME XFBUIFS ESJWJOH " JDL PG UIF TXJUDI RVJDLMZ XBSNT UIF TUFFSJOH XIFFM UP UIF QFSGFDU UFNQFSBUVSF 5ISFF TQPLF MFBUIFS XSBQQFE NVMUJ GVODUJPO . TQPSU TUFFSJOH XIFFM GFBUVSFT B HSJQ FOIBODJOH XIFFM DPWFS BOE EJTUJODUJWF . CBEHJOH 0QUJPOBM 7PJDF DPNNBOE JODMVEFE XJUI PQUJPOBM /BWJHBUJPO TZTUFN DBO CF VTFE UP DIBOHF WBSJPVT TFMFDUJPOT BOE FOUSJFT &RVJQNFOU DPNCJOBUJPOT $PMPVST 4UBOEBSE 0QUJPOBM FRVJQNFOU #.8 BOUJ UIFGU ". '. TUFSFP $% .1 QMBZFS BVEJP TZTUFN JODMVEFT 3BEJP %BUB 4ZTUFN 3%4 "VUP 4UPSF BOE DIBOOFM '. EJWFSTJUZ BOUFOOB *U BMTP DPOWFOJFOUMZ EJTQMBZT TPOH UJUMFT BOE PUIFS JOGPSNBUJPO )% 3BEJP SFDFJWFT GSFF EJHJUBM ". '. CSPBEDBTUT BDSPTT UIF 6 4 JO DMFBS TUBUJD GSFF RVBMJUZ TPVOE ". TPVOET MJLF '. '. TPVOET MJLF $% "MTP FOKPZ NVMUJDBTU '. TUBUJPOT BT XFMM BT B WBSJFUZ PG JOOPWBUJWF EBUB TFSWJDFT 'PS NPSF JOGPSNBUJPO PO )% 3BEJP SFDFJWFST BOE UP GJOE )% 3BEJP ". '. TUBUJPOT OFBS ZPV WJTJU )%SBEJP DPN 4UBOEBSE 0QUJPOBM FRVJQNFOU &RVJQNFOU $SVJTF $POUSPM MFUT ZPV TUPSF BOE LFFQ UP B DIPTFO TQFFE BCPWF NQI *U JT BDUJWBUFE WJB UIF MFGU IBOE TUFFSJOH DPMVNO TXJUDI BOE EFBDUJWBUFE CZ BQQMZJOH UIF CSBLFT PS WJB UIF TXJUDI $SVJTF $POUSPM JT OPU B TVCTUJUVUF GPS UIF ESJWFS T PXO SFTQPOTJCJMJUZ JO BEKVTUJOH TQFFE BOE PUIFSXJTF DPOUSPMMJOH UIF WFIJDMF %VF UP SPBE USBG D BOE WJTJCJMJUZ DPOEJUJPOT UIF ESJWFS NVTU EFDJEF XIFUIFS BOE IPX UIF TZTUFN JT VTFE *OTUSVNFOU QBOFM GFBUVSFT B SFE CBDLMJU TQFFEPNFUFS BOE UBDIPNFUFS $FOUFSFE CFUXFFO UIF UXP FBTZ UP SFBE BOBMPH JOTUSVNFOUT JT UIF PO CPBSE DPNQVUFS XJUI MJRVJE DSZTUBM EJTQMBZ QSPWJEJOH BEEJUJPOBM JNQPSUBOU ESJWJOH JOGPSNBUJPO 1BSL %JTUBODF $POUSPM VTFT VMUSBTPOJD TFOTPST JO UIF SFBS CVNQFS UP IFMQ ZPV KVEHF UIF EJTUBODF UP PUIFS DBST BOE VOTFFO PCKFDUT XIFO QBSLJOH 5IF CFFQJOH CFDPNFT GBTUFS BT ZPVS CVNQFS BQQSPBDIFT UIF PCKFDU UVSOJOH JOUP B DPOTUBOU UPOF XIFO UIF EJTUBODF JT MFTT UIBO JODIFT 4IPXO XJUI PQUJPOBM #.8 /BWJHBUJPO TZTUFN 0QUJPOBM PS JODMVEFE JO PQUJPOBM QBDLBHF 'PS EFUBJMT PO UIF BWBJMBCJMJUZ PG TUBOEBSE BOE PQUJPOBM GFBUVSFT QMFBTF SFGFS UP UIF &RVJQNFOU DIBSUT TFDUJPO BU UIF CBDL PG UIJT CSPDIVSF 4UBOEBSE &RVJQNFOU DIBSUT 5FDIOJDBM EBUB #.8 "QQT BO PQUJPOBM GFBUVSF PG UIF #.8 $POOFDUFE%SJWF JOUFSGBDF BMMPXT BO J1IPOFn J04 Y UP QMBZ BQQT TQFDJBMMZ NPEJGJFE GPS #.8 BOE #.8 BQQSPWFE UIJSE QBSUZ BQQT *NBHJOF MJTUFOJOH UP 8FC SBEJP XIJMF ZPV ESJWF PS BDDFTTJOH ZPVS 5XJUUFS PS 'BDFCPPLn BDDPVOUT PO UIF %JTQMBZ NPOJUPS 6TF UIF J1PE 0VU GVODUJPO XJUI ZPVS TNBSUQIPOF UP TFMFDU NVTJD USBDLT DPNQJMF QMBZMJTUT BOE VTF (FOJVT JG FOBCMFE UP GJOE TJNJMBS TPVOET 4NBSUQIPOF *OUFHSBUJPO XIJDI QSPWJEFT DPOOFDUJWJUZ GPS J1IPOF BOE TJNJMBS EFWJDFT JT JODMVEFE XJUI #.8 "QQT 5IJT BMMPXT BDDFTT UP TUPSFE NVTJD DBO JNQSPWF TJHOBM SFDFQUJPO BOE SFDIBSHFT UIF CBUUFSZ 4FF ZPVS BVUIPSJ[FE #.8 DFOUFS GPS QIPOF NPEFMT DPNQBUJCMF XJUI UIJT GFBUVSF )BSNBO ,BSEPOn 4VSSPVOE 4PVOE 4ZTUFN PGGFST WFIJDMF TQFDJ D FRVBMJ[JOH BOE B QPXFSGVM 8 BNQMJ FS 5IF TQFBLFS TZTUFN JODMVEFT GPVS UXFFUFST GPVS NJESBOHF TQFBLFST BOE UXP CBTT TQFBLFST MPDBUFE VOEFS UIF GSPOU TFBUT "VYJMJBSZ JOQVU QPSU MFUT ZPV DPOOFDU BO FYUFSOBM BVEJP TPVSDF TVDI BT BO J1PEn PS .1 QMBZFS J1PE BOE 64# BEBQUFS MFUT ZPV TDSPMM UISPVHI BOE TFMFDU UIF NVTJD ZPV XBOU CZ VTJOH UIF WFIJDMF T SBEJP DPOUSPMT PS UIF NVMUJ GVODUJPO TUFFSJOH XIFFM CVUUPOT .VTJD UJUMFT BSF EJT QMBZFE PO UIF SBEJP PS /BWJHBUJPO TDSFFO #.8 4FSWJDFT 4JSJVT 4BUFMMJUF 3BEJP EFMJWFST PWFS DIBOOFMT PG UIF NPTU JOOPWBUJWF TBUFMMJUF SBEJP NVTJD OFXT TQPSUT UBML DPNFEZ BOE FOUFSUBJONFOU "MM NVTJD DIBOOFMT BSF DPNNFSDJBM GSFF BOE JU T EFMJWFSFE DPBTU UP DPBTU JO DSZTUBM DMFBS EJHJUBM TPVOE IPVST B EBZ "EE 5IF #FTU PG 9. UP FOKPZ BEEJUJPOBM QSFNJVN QSPHSBNT MJLF 0QSBI 3BEJP n 9. 1VCMJD 3BEJP n 5IF 7JSVT n BOE UPQ OPUDI TQPSUT BDUJPO QMVT DIBOOFMT PG 9. 1MBZ CZ 1MBZ TQPSUT *G ZPVS #.8 JT FRVJQQFE XJUI J%SJWF ZPV DBO BMTP TFMFDU 4JSJVT 9. DIBOOFMT UISPVHI ZPVS WFIJDMF T J%SJWF TZTUFN PS 7PJDF DPNNBOE BOE FOUFS UIFN JOUP UIF QSPHSBNNBCMF NFNPSZ CVUUPOT "VUPNBUJD DMJNBUF DPOUSPM TZTUFN BMMPXT PDDVQBOUT UP TFMFDU B TQFDJ D DBCJO UFNQFSBUVSF BOE DIPJDF PG GBO TQFFET BT XFMM BT BVUPNBUJD PS NBOVBM BJS PX BOE SFDJSDVMBUJPO 5IF BVUPNBUJD SFDJSDVMBUJPO DPOUSPM BDUJWBUFT XIFOFWFS DFSUBJO BJS QPMMVUBOUT BSF EFUFDUFE 5IF TZTUFN BMTP JODMVEFT EFGSPTU EFNJTU BOE ."9 " $ GVODUJPOT 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$PNCJOBUJPO FYBNQMFT $PMPST &RVJQNFOU 5IF . 4QPSU 1BDLBHF "O FYQSFTTJPO PG TVQFSJPS BUIMFUJDJTN #SJOH UIF QSPVE USBEJUJPO PG #.8 . SJHIU UP ZPVS EPPSTUFQ TUBSUJOH XJUI UIF USJ DPMPS . MPHP PO UIF EPPS TJMMT #PMTUFSFE GSPOU TQPSU TFBUT DPVQMFE XJUI UIF UISFF TQPLF . TQPSU NVMUJ GVODUJPO TUFFSJOH XIFFM BEE UP UIF ESJWJOH FYDJUFNFOU 5IF BWBJMBCMF -F .BOT #MVF .FUBMMJD QBJOU BOE CMBDL TIBEPXMJOF USJN QSPKFDU UIF JNBHF PG TFSJPVT QFSGPSNBODF %PVCMF 4QPLF 4UZMF . MJHIU BMMPZ XIFFMT Y GSPOU Y SFBS BOE SVO BU QFSGPSNBODF UJSFT BSF JODMVEFE JO UIF J . 4QPSU 1BDLBHF UIF J . 4QPSU 1BDLBHF BEET %PVCMF 4QPLF 4UZMF . MJHIU BMMPZ XIFFMT Y GSPOU Y SFBS BOE SVO BU QFSGPSNBODF UJSFT 1MFBTF OPUF %SJWJOH PWFS SPVHI PS EBNBHFE SPBE TVSGBDFT BT XFMM BT EFCSJT DVSCT BOE PUIFS PCTUBDMFT DBO DBVTF TFSJPVT EBNBHF UP XIFFMT UJSFT BOE TVTQFOTJPO QBSUT 5IJT JT NPSF MJLFMZ UP PDDVS XJUI MPX QSPGJMF UJSFT XIJDI QSPWJEF MFTT DVTIJPO JOH CFUXFFO UIF XIFFM BOE UIF SPBE #F DBSFGVM UP BWPJE SPBE IB[BSET BOE SFEVDF ZPVS TQFFE FTQFDJBMMZ JG ZPVS WFIJDMF JT FRVJQQFE XJUI MPX QSPGJMF UJSFT &JHIU XBZ BEKVTUBCMF GSPOU TQPSU TFBUT NBLF UIF ESJWJOH FYQFSJFODF NPSF FOKPZBCMF 4JEF CPMTUFST DBO CF QPXFS BEKVTUFE UP U ZPVS CBDL DPNGPSUBCMZ XIJMF IFMQJOH UP IPME ZPV SNMZ JO QMBDF EVSJOH DPSOFSJOH *ODMVEFT UXP XBZ NBOVBM IFBESFTUT BOE UIJHI TVQQPSU %PVCMF 4QPLF 4UZMF . MJHIU BMMPZ XIFFMT BOE SVO BU QFSGPSNBODF UJSFT *O GSPOU Y XIFFMT BOE UJSFT JO CBDL Y XIFFMT UJSFT J . 4QPSU 1BDLBHF BOE 8IFO UIF J JT PSEFSFE XJUI . 4QPSU 1BDLBHF BOE 45&1530/*$ BVUPNBUJD USBOTNJTTJPO TUFFSJOH XIFFM NPVOUFE QBEEMF TIJGUFST BSF BVUPNBUJDBMMZ BEEFE 3VO GMBU UJSFT EP OPU DPNF FRVJQQFE XJUI B TQBSF UJSF BOE XIFFM QFSGPSNBODF UJSFT BSF OPU SFDPNNFOEFE GPS ESJWJOH JO JDF BOE TOPX %PVCMF 4QPLF 4UZMF . MJHIU BMMPZ XIFFMT BOE SVO BU QFSGPSNBODF UJSFT *O GSPOU Y XIFFMT BOE UJSFT JO CBDL Y XIFFMT UJSFT J . 4QPSU 1BDLBHF BOE 'PS EFUBJMT PO UIF BWBJMBCJMJUZ PG TUBOEBSE BOE PQUJPOBM GFBUVSFT QMFBTF SFGFS UP UIF &RVJQNFOU DIBSUT TFDUJPO BU UIF CBDL PG UIJT CSPDIVSF . EPPS TJMMT XJUI UIF JOTUBOUMZ JEFOUJ BCMF . MPHP "T TPPO BT UIF EPPS JT PQFOFE UIFZ BOOPVODF UIBU UIJT JT B TQFDJBM CSFFE PG DPVQF "O "FSPEZOBNJD LJU GPS UIF J NBUDIFT UIF J XJUI JUT GSPOU BJS EBN XJUI HFOFSPVT BJS JOUBLFT EZOBNJD TJEF TLJSUT BOE BO BUIMFUJD SFBS TQPJMFS 5IF . 4QPSU DIBTTJT JT MPXFSFE CZ GPS UJHIUFS IBOEMJOH XIFO DPSOFSJOH BOE B NPSF BHHSFTTJWF MPPL 4IBEPXMJOF USJN FOIBODFT UIF TQPSUZ BUUJUVEF 5ISFF TQPLF MFBUIFS XSBQQFE NVMUJ GVODUJPO . TQPSU TUFFSJOH XIFFM JT JODMVEFE JO UIF . 4QPSU 1BDLBHF 5IF UIJDL UFYUVSFE SJN BOE UIVNC JOEFOUT BSF EFTJHOFE GPS QFS GPSNBODF ESJWJOH XIJMF NVMUJ GVODUJPO CVUUPOT BMMPX ZPV UP BEKVTU WBSJPVT DPNGPSU GFBUVSFT XIJMF LFFQJOH CPUI IBOET PO UIF XIFFM . 4QPSU 1BDLBHF 0SJHJOBM #.8 "DDFTTPSJFT &RVJQNFOU DIBSUT 5FDIOJDBM EBUB 0SJHJOBM #.8 "DDFTTPSJFT "QQMF J1IPOFn IPMEFS MFUT ZPV DPOOFDU ZPVS J1IPOF UP UIF BVEJP TZTUFN TP ZPV DBO TUBZ DPOOFDUFE XJUIPVU CFJOH EJTUSBDUFE "EEJOH CMBDL 4QPSU TUSJQFT VOEFSTDPSFT UIF 4FSJFT $PVQF T DPNQFUJUJWF IFSJUBHF $SFBUF BO FWFO CPMEFS IJHI QFSGPSNBODF MPPL XJUI %PVCMF 4QPLF 4UZMF MJHIU BMMPZ XIFFMT BOE SVO BU QFSGPSNBODF UJSFT 'MPPS NBUT BSF NBEF PG QVSF SVCCFS BOE QSPWJEF B DVTUPN U 5IFZ GFBUVSF EFFQ DIBOOFMT UP USBQ XBUFS TMVTI TOPX BOE EJSU BOE XJMM OPU DSBDL DVSM PS TUJGGFO JO BOZ UFNQFSBUVSF BDDFTTPSJFT CNXVTB DPN %SJWJOH B #.8 JT BMXBZT B TQFDJBM FYQFSJFODF XIJDI DBO CF FOIBODFE FWFO GVSUIFS XJUI 0SJHJOBM #.8 "DDFTTPSJFT #FOFGJU GSPN JOOPWBUJWF TPMVUJPOT DPNCJOJOH VOJRVF JEFBT TUVOOJOH EFTJHO BOE TVQSFNF GVODUJPOBMJUZ %JTDPWFS UIF XJEF SBOHF PG 0SJHJOBM #.8 "DDFTTPSJFT BWBJMBCMF UP ZPV FOIBODJOH TVDI WFIJDMF BTQFDUT BT UIF FYUFSJPS JOUFSJPS UFDIOPMPHZ USBOTQPSUFST QSPUFDUJPO BOE EFUBJMT UP DVTUPNJ[F ZPVS WFIJDMF 'PS BEEJUJPOBM JOGPSNBUJPO PO 0SJHJOBM #.8 "DDFTTPSJFT QMFBTF WJTJU ZPVS BVUIPSJ[FE #.8 DFOUFS PS #.8 4FSWJDFT $VQIPMEFS BUUBDIFT OFBUMZ UP UIF DFOUFS DPOTPMF XJUIJO JOTUJODUJWF SFBDI TP ZPV DBO LFFQ ZPVS FZFT PO UIF SPBE XIJMF FOKPZJOH B CFWFSBHF #.8 PGGFST B TFMFDUJPO PG DVTUPN USVOL NBUT UIBU IFMQ LFFQ ZPVS USVOL MJOJOH DMFBO BOE QSPUFDUFE 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n BOE 64# BEBQUFS "VYJMJBSZ BVEJP JOQVU GPS QPSUBCMF NVTJD QMBZFST MPDBUFE JO UIF DFOUFS BSNSFTU )% 3BEJP )BSNBO ,BSEPOn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n XJSFMFTT UFDIOPMPHZ JODMVEFT GPVS ZFBST PG "VUPNBUJD $PMMJTJPO /PUJ DBUJPO &NFSHFODZ 3FRVFTU &OIBODFE 3PBETJEF "TTJTUBODF %PPS 6OMPDL 4UPMFO 7FIJDMF 3FDPWFSZ $VTUPNFS 3FMBUJPOT 5FMF4FSWJDF .PCJMF 0G DF GFBUVSFT .Z*OGP MFUT ZPV TFOE CVTJOFTT MPDBUJPOT BOE TUSFFU BEESFTTFT EJSFDUMZ UP ZPVS #.8 BOE /BWJHBUJPO TZTUFN GPS DPNQMFUF EFUBJMT WJTJU CNXBTTJTU DPN #.8 4FSWJDFT #.8 6MUJNBUF 4FSWJDFn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i #.8 PG /PSUI "NFSJDB --$ /PU UP CF SFQSPEVDFE XIPMMZ PS JO QBSU XJUIPVU XSJUUFO QFSNJTTJPO PG #.8 /" 5IF #.8 OBNF MPHP NPEFM OBNFT BOE 4"7 BSF SFHJTUFSFE USBEFNBSLT 6 4 *NQPSUFS #.8 PG /PSUI "NFSJDB --$ 8PPEDMJGG -BLF /+ "MM JMMVTUSBUJPOT BOE TQFDJGJDBUJPOT DPOUBJOFE JO UIJT CSPDIVSF BSF CBTFE PO UIF MBUFTU QSPEVDU JOGPSNBUJPO BWBJMBCMF BU UIF UJNF PG QSJOUJOH #.8 SFTFSWFT UIF SJHIU UP NBLF DIBOHFT BU BOZ UJNF XJUIPVU OPUJDF JO DPMPST NBUFSJBMT FRVJQNFOU TQFDJGJDBUJPOT BOE NPEFMT #.8 NBZ TVCKFDU UP MFHBM SFRVJSFNFOUT EFUFSNJOF UIF .PEFM :FBS EFTJHOBUJPO PG JUT WFIJDMFT 5IF .PEFM :FBS EFTJHOBUJPO PO BOZ QBSUJDVMBS NPEFM NBZ CF MPOHFS PS TIPSUFS UIBO NPOUIT 4PNF WFIJDMFT QJDUVSFE NBZ DPOUBJO OPO 6 4 FRVJQNFOU 4PNF NPEFMT NBZ CF TIPXO XJUI PQUJPOBM FRVJQNFOU 8IJMF #.8 /" NBLFT BMM SFBTPOBCMF FGGPSUT UP QSPWJEF BDDVSBUF JOGPSNBUJPO JO UIJT CSPDIVSF UIFSF JT OP HVBSBOUFF PS XBSSBOUZ PG BDDVSBDZ 'VSUIFSNPSF XF EP OPU BTTVNF BOZ MJBCJMJUZ GPS UIF BDDVSBDZ PS DPNQMFUFOFTT PG JOGPSNBUJPO QSFTFOUFE 5IJT CSPDIVSF TIBMM OPU CF VTFE PS SFMJFE VQPO BT B TVCTUJUVUF GPS JOGPSNBUJPO UIBU JT BWBJMBCMF GSPN ZPVS #.8 DFOUFS 'VSUIFS JOGPSNBUJPO DBO CF PCUBJOFE GSPN ZPVS BVUIPSJ[FE #.8 DFOUFS PS CNXVTB DPN 5IF #MVFUPPUI XPSE NBSL BOE MPHPT BSF PXOFE CZ UIF #MVFUPPUI 4*( *OD BOE BOZ VTF PG TVDI NBSLT CZ #.8 JT VOEFS MJDFOTF J1IPOF BOE J1PE BSF SFHJTUFSFE USBEFNBSLT PG "QQMF *OD 0UIFS USBEFNBSLT BOE USBEF OBNFT BSF UIF QSPQFSUZ PG UIFJS SFTQFDUJWF PXOFST NQI #.8 "( UFTU SFTVMUT #.8 VSHFT ZPV UP PCFZ BMM QPTUFE TQFFE MBXT BOE BMXBZT XFBS TBGFUZ CFMUT 5PQ TQFFE MJNJUFE FMFDUSPOJDBMMZ "MM TFBTPO UJSFT MJNJUFE UP &1" FTUJNBUFE GJHVSFT BSF GPS DPNQBSJTPO QVSQPTFT POMZ :PVS BDUVBM NJMFBHF XJMM WBSZ EFQFOEJOH PO TQFFE ESJWJOH IBCJUT USJQ MFOHUI BOE ESJWJOH DPOEJUJPOT BDUVBM NJMFBHF NBZ CF MPXFS 5FDIOJDBM EBUB $PNCJOBUJPO FYBNQMFT $PMPST 8F CFMJFWF UIBU B QSFNJVN PXOFSTIJQ FYQFSJFODF TIPVME GFBUVSF QFSGPSNBODF BOE MVYVSZ BT XFMM BT TBGFUZ BOE DPOWFOJFODF 8F CFMJFWF ZPV TIPVME CF BCMF UP ESJWF B #.8 UP JUT QPUFOUJBM XIJMF FOKPZJOH QFBDF PG NJOE BOE SFEVDFE DPTU PG PXOFSTIJQ 5IBU T UIF JEFB CFIJOE #.8 6MUJNBUF 4FSWJDFn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n UFDIOPMPHZ #.8 T .PCJMF 0GGJDF GFBUVSF USBOTGFST UFYU NFTTBHFT BOE FNBJMT UP ZPVS J%SJWF %JTQMBZ TDSFFO BOE SFBET UIFN BMPVE UP ZPV " $BMFOEBS BOE 5P EP -JTU DBO BMTP BQQFBS PO ZPVS %JTQMBZ TDSFFO XIJMF FO SPVUF 3VOOJOH MBUF $MJDL PO UIF QIPOF OVNCFS JO UIF $BMFOEBS UP DBMM ZPVS BQQPJOUNFOU 'PS B MJTU PG UFTUFE NPCJMF QIPOFT WJTJU CNXVTB DPN CMVFUPPUI 0/ #0"3% 4&37*$& "-&354 8F NPOJUPS ZPVS #.8 T OFFET TP ZPV EPO U IBWF UP 5BDLMJOH NPVOUBJO TXJUDICBDLT UIF MBTU UIJOH ZPV TIPVME CF UIJOLJOH BCPVU JT UIF TUBUF PG ZPVS CSBLF QBET 5IBOLT UP #.8 T JOUFHSBUFE PO CPBSE EJBHOPTUJDT TZTUFN ZPV XJMM BMXBZT LOPX FYBDUMZ XIFO UIF OFYU TFSWJDF JT EVF BOE XIBU XPSL XJMM CF SFRVJSFE $POEJUJPO #BTFE 4FSWJDF $#4 NFBTVSFT UIF DPOEJUJPO PG LFZ QBSUT UIBU BSF TVCKFDU UP XFBS BOE UFBS *U BMTP USBDLT VJE MFWFMT BOE NPOJUPST ZPVS #.8 T UJNF BOE NJMFBHF EFQFOEFOU TFSWJDF SFRVJSFNFOUT 6TJOH UIJT EBUB UIF *OGP %JTQMBZ JO UIF DPDLQJU BVUPNBUJDBMMZ BMFSUT ZPV JO BEWBODF XIFOFWFS BOZ QBSU PG ZPVS WFIJDMF XJMM SFRVJSF TFSWJDJOH TP UIFSF BSF OP TVSQSJTFT BIFBE &RVJQNFOU DIBSUT #.8 'JOBODJBM 4FSWJDFT "SSBOHJOH UP CVZ PS MFBTF B #.8 JT FBTJFS UIBO ZPV NBZ UIJOL :PVS BVUIPSJ[FE #.8 DFOUFS PGGFST MFBTJOH BOE GJOBODJOH UP TVJU ZPVS QFSTPOBM OFFET UISPVHI #.8 'JOBODJBM 4FSWJDFT 4UBSU UIF QSPDFTT BU PVS XFCTJUF XIFSF ZPV DBO CVJME ZPVS ESFBN WFIJDMF HFU BO FTUJNBUF PO B NPOUIMZ MFBTF PS GJOBODJOH QBZNFOU TVCNJU B DSFEJU BQQMJDBUJPO UP #.8 'JOBODJBM 4FSWJDFT BOE HFU BQQSPWBM BMM POMJOF 5P GJOE PVU IPX #.8 'JOBODJBM 4FSWJDFT DBO IFMQ QVU ZPV CFIJOE UIF XIFFM PG ZPVS GBWPSJUF #.8 NPEFM MPH PO UP CNXVTB DPN GT PS DBMM UPMM GSFF 5FDIOJDBM EBUB #.8 7JSUVBM $FOUFS *G ZPV HFU UIF TVEEFO VSHF UP TIPQ GPS B #.8 CVU ZPVS BVUIPSJ[FE #.8 DFOUFS JT DMPTFE UIFSF T HPPE OFXT UIF #.8 7JSUVBM $FOUFS JT PQFO IPVST B EBZ -PH PO UP CNXVTB DPN CZP BOE DIPPTF UIF NPEFM UIBU JOUFSFTUT ZPV $POGJHVSF UIF #.8 PG ZPVS ESFBNT BOE TFF XIBU UIF NPOUIMZ QBZNFOUT XPVME CF :PV DBO FWFO TFOE UIF TQFDJGJDBUJPOT UP ZPVS BVUIPSJ[FE #.8 DFOUFS BQQMZ GPS GJOBODJOH PS SFRVFTU B UFTU ESJWF BMM POMJOF #.8 .BHB[JOF " GBTDJOBUJOH WJFX PG UIF MBUFTU FWFOUT BOE QSPEVDUT JO UIF XPSME PG #.8 JODMVEJOH USBWFM SFWJFXT QFSTPOBMJUZ QSPGJMFT BOE UIF MBUFTU #.8 UFDIOPMPHJFT 4FOU UP OFX PXOFST BOE MFTTFFT TFWFSBM UJNFT B ZFBS ZPV DBO BMTP SFBE BSUJDMFT GSPN #.8 .BHB[JOF PO UIF #.8 XFCTJUF BU CNXVTB DPN VOEFS UIF .FEJB (BMMFSZ -JCSBSZ IFBEJOH GPVOE JO UIF &YQFSJFODF TFDUJPO #.8 8FMU 5IF #.8 8FMU #.8 8PSME EFMJWFSZ BOE CSBOE FYQFSJFODF DFOUFS JO .VOJDI JT CPME QSPPG PG #.8 T QBTTJPO GPS EFTJHO 8IFO ZPV UBLF BEWBOUBHF PG UIF #.8 &VSPQFBO %FMJWFSZ 1SPHSBN UIJT JT XIFSF ZPV XJMM NFFU ZPVS OFX #.8 JO B QFS TPOBMJ[FE QSPDFTT UIBU JT IJHIMZ ESBNBUJD BOE UPUBMMZ VOGPSHFUUBCMF :PV NJHIU BMTP SFBMJ[F TVCTUBOUJBM TBWJOHT UIBU KVTU NBZ QBZ GPS ZPVS USJQ 8IJMF ZPV SF UIFSF NBSWFM BU UIF IJTUPSJD #.8T JO UIF .VTFVN MFBSO BCPVU PVS FOHJOFFST OFXFTU JOOPWBUJPOT JO UIF 5FDIOPMPHZ BOE %FTJHO "UFMJFS BOE UBLF B UPVS PG UIF QMBOU UP FYQFSJFODF GJSTUIBOE UIF TUBUF PG UIF BSU NFUIPET VTFE UP DSFBUF B #.8 5IFO DPNFT UIF VOJRVF FYQFSJFODF PG ESJWJOH ZPVS OFX #.8 PO UIF SPBET JU XBT EFTJHOFE GPS 5P MFBSO NPSF WJTJU CNXVTB DPN FVSPQFBOEFMJWFSZ #.8 4FSWJDFT #.8 1FSGPSNBODF %SJWJOH 4DIPPM 5BLF ZPVS ESJWJOH TLJMMT UP UIF OFYU MFWFM #FIJOE UIF XIFFM PG PVS OFX #.8T BOE VOEFS UIF FYQFSU HVJEBODF PG QSP GFTTJPOBM ESJWJOH JOTUSVDUPST ZPV MM IPOF ZPVS ESJWJOH TLJMMT PO B WFSTBUJMF ESJWJOH DPVSTF NJMFT PG BTQIBMU UIBU DBO CF DPO HVSFE JO B NVMUJUVEF PG XBZT *O 0OF BOE 5XP %BZ 4DIPPMT ZPV DBO UBDLMF UIF TLJE QBE TMBMPN DPVSTF BOE XBUFS XBMMT 5IF #.8 1FSGPSNBODF %SJWJOH 4DIPPM JT BCPVU DPOUSPM BOE QVTIJOH B #.8 UP JUT MJNJUT BOE ZPVST 1FSGPSNBODF $FOUFS %FMJWFSZ :PV MM BMXBZT SFNFNCFS UIF GVO PG UBLJOH EFMJWFSZ PG ZPVS OFX #.8 FTQFDJBMMZ XJUI #.8 1FSGPSNBODF $FOUFS %FMJW FSZ JO 4QBSUBOCVSH 4$ "GUFS FOKPZJOH EJOOFS BOE BO PWFSOJHIU TUBZ BU B STU DMBTT IPUFM XF MM UBLF ZPV BOE ZPVS DPNQBOJPO UP UIF 1FSGPSNBODF $FOUFS XIFSF B 1SPEVDU 4QFDJBMJTU XJMM HJWF ZPV BO JO EFQUI JOUSPEVDUJPO UP ZPVS OFX #.8 5IFO BU UIF 1FSGPSNBODF %SJWJOH 4DIPPM ZPV MM HFU UJQT GSPN B QSPGFTTJPOBM ESJWJOH JOTUSVDUPS BT ZPV FYQMPSF UIF EZOBNJD DBQBCJMJUJFT PG B TJNJMBS NPEFM *U T FYDJUJOH JU T FOMJHIU FOJOH BOE JU T BMM DPNQMJNFOUT PG #.8 XJUI ZPVS OFX WFIJDMF 5P MFBSO NPSF BCPVU UIF #.8 1FSGPSNBODF $FOUFS DBMM PS WJTJU CNXVTB DPN QFSGPSNBODFDFOUFS 4FF ZPVS BVUIPSJ[FE #.8 DFOUFS GPS EFUBJMT PO UIFTF MJNJUFE XBSSBOUJFT 5IF #.8 .BJOUFOBODF 1SPHSBN DPWFST GBDUPSZ SFDPNNFOEFE NBJOUFOBODF TFSWJDFT BT EFUFSNJOFE CZ UIF 4FSWJDF *OUFSWBM *OEJDBUPS GPS BMM OFX FMJHJCMF .: BOE MBUFS #.8 WFIJDMFT 4QFDJGJD BEEJUJPOBM JUFNT UIBU OFFE SFQMBDFNFOU EVF UP OPSNBM XFBS BOE UFBS BSF BMTP DPWFSFE 5IF NBJOUFOBODF DPWFSBHF QFSJPE JT GPS UIF GJSTU ZFBST PS NJMFT XIJDIFWFS DPNFT GJSTU &YDMVTJPOT GSPN DPWFSBHF JODMVEF HBTPMJOF HBTPMJOF BEEJUJWFT XJOETIJFME XBTIFS GMVJE BOE BEEJUJWFT CBUUFSZ UJSFT XIFFMT XIFFM BMJHONFOU BOE UJSF CBMBODJOH "MM XPSL NVTU CF QFSGPSNFE CZ BO BVUIPSJ[FE #.8 DFOUFS 4FF UIF 4FSWJDF BOE 8BSSBOUZ *OGPSNBUJPO CPPLMFU GPS TQFDJGJD UFSNT DPOEJUJPOT BOE MJNJUBUJPOT 'VSUIFS JOGPSNBUJPO DBO BMTP CF PCUBJOFE GSPN ZPVS BVUIPSJ[FE #.8 DFOUFS 5IF #.8 "TTJTU BOE #MVFUPPUI )BOET GSFF $BMMJOH TZTUFN XJUI ZFBST PG 4BGFUZ 1MBO TFSWJDFT JT PQUJPOBM PS JODMVEFE JO UIF 1SFNJVN 1BDLBHF JO 4FSJFT NPEFMT *O PSEFS UP SFDFJWF #.8 "TTJTU TFSWJDFT B TVCTDSJCFS BHSFFNFOU NVTU CF DPNQMFUFE BOE USBOTGFSSFE UP UIF #.8 "TTJTU 3FTQPOTF $FOUFS (14 BOE VOEFSMZJOH XJSFMFTT TFSWJDFT NVTU CF BWBJMBCMF BOE GVODUJPOJOH WFIJDMF JHOJUJPO NVTU CF UVSOFE PO FYDFQU GPS %PPS 6OMPDL BOE 4UPMFO 7FIJDMF 3FDPWFSZ CBUUFSZ DIBSHFE BOE DPOOFDUFE BOE WFIJDMF T FMFDUSJDBM TZTUFN PQFSBUJPOBM TFSWJDFT NBZ CF MJNJUFE UP DFSUBJO HFPHSBQIJD BSFBT $BMM UPMM GSFF HP UP CNXBTTJTU DPN PS WJTJU ZPVS BVUIPSJ[FE #.8 DFOUFS GPS BEEJUJPOBM QSPHSBN EFUBJMT 4FSWJDFT BSF TVCKFDU UP UIF UFSNT BOE DPOEJUJPOT PG ZPVS TVCTDSJCFS BHSFFNFOU 3FRVJSFT #.8 "TTJTU 4BGFUZ 1MBO TVCTDSJQUJPO 4FSWJDFT BSF TVCKFDU UP UIF UFSNT BOE DPOEJUJPOT PG ZPVS TVCTDSJCFS BHSFFNFOU 1MFBTF HP UP CNXBTTJTU DPN GPS BEEJUJPOBM EFUBJMT PO UIF PQUJPOBM $POWFOJFODF 1MBO 4VCKFDU UP DSFEJU BQQSPWBM BOE PUIFS UFSNT BOE DPOEJUJPOT /PU BMM NPEFMT BWBJMBCMF GPS #.8 &VSPQFBO %FMJWFSZ 1SPHSBN 1MFBTF HP UP CNXVTB DPN PS WJTJU ZPVS BVUIPSJ[FE #.8 DFOUFS GPS EFUBJMT .PSF BCPVU #.8 5IF 6MUJNBUF %SJWJOH .BDIJOFn #.8 BOE UIF FOWJSPONFOU #.8 JT B TUSPOH QSPQPOFOU PG UIF FOWJSPONFOU BOE TPDJBM SFTQPOTJCJMJUZ 8F MBVODIFE #.8 &G DJFOU%ZOBNJDT CBDL JO UIF QIJMPTPQIZ PG QSPWJEJOH HSFBUFS QPXFS XJUI JODSFBTFE FG DJFODZ BOE GFXFS FNJTTJPOT 5IJT IBT SFTVMUFE JO TJHOJ DBOU CFOF UT UPEBZ GPS PVS DVTUPNFST UIF DMJNBUF BOE UIF FOWJSPONFOU 5IBU ZFBS FDPMPHJDBM TVTUBJOBCJMJUZ XBT BMTP EFDMBSFE POF PG #.8 T DPSF TUSBUFHJD QSJODJQMFT JU JT OPX SNMZ BODIPSFE JO PVS FOUJSF QSPEVDUJPO DIBJO *U TUBSUT XJUI UIF EFWFMPQNFOU PG GVFM TBWJOH BOE BMUFSOBUJWF WFIJDMF DPODFQUT DPOUJOVFT XJUI FOWJSPONFOUBMMZ GSJFOEMZ QSPEVDUJPO QSPDFTTFT BOE FOET XJUI JOOPWBUJWF SFDZDMJOH NFUIPET 5IJT FGGPSU IBT CFFO SFDPHOJ[FE XPSMEXJEF JO #.8 "( UIF QBSFOU DPNQBOZ PG #.8 PG /PSUI "NFSJDB BOE #.8 .BOVGBDUVSJOH $P JO 4QBSUBOCVSH 4$ XBT UIF STU BVUPNPUJWF DPNQBOZ UP CF SFQSFTFOUFE PO UIF %PX +POFT 4VTUBJOBCJMJUZ (SPVQ *OEFY *U IBT SFNBJOFE PO UIF *OEFY FWFS TJODF NPSF PWFS GPS UIF MBTU TJY ZFBST #.8 IBT CFFO WPUFE UIF XPSME T NPTU TVTUBJOBCMF BVUPNPCJMF NBOVGBDUVSFS "U #.8 XF TUSJWF GPS BOE BDIJFWF IJHI QFSGPSNBODF JO BMM XF EP #.8 SFDPNNFOET 7# 1SJOUFE JO (FSNBOZ CNXVTB DPN #.8