Diploma Document 2013

DIPLOMA PROJECT Employer Branding for Flipkart Sponsor : ReZonant Design Services, Bangalore

Volume : 1 STUDENT : ASMINA SHAIKH PROGRAMME : Graduate Diploma Programme

GUIDE : RUPESH VYAS

2013 COMMUNICATION DESIGN FACULTY (GRAPHIC DESIGN)

National Institute of Design Ahmedabad

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

!"#$%&'()*(+($,-

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ȆORUHP LSVXPȇ ZLWK VRPH ȴQH ZULWWHQ FRQWHQW DQG IRU DOO WKH PHPRUDEOH 2&?51??&"4?*G3*(92*3<34*73$"42*G"%I= F*G"182*98?"*8&I3*)"*3H)342*6$*)(94I?*)"*R94Q33)(9:*V%&?(&:*E33%Q9:*095(&4:*>Q33?(:* 9LQD\DN 3UDQDY %KDJ\DVKUHH DQG 0HURR IRU PDNLQJ WKH RɝFH VXFK D OLYHO\ DQG &4?#&%&4'*#8953*)"*G"%I*&4=*F*G"182*8&I3*)"*)(94I*09<&)(9*942*R963?(*;"%*(38#&4'*63* RXW ZLWK DOO WKH SURMHFW ȴ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È´JXUH RXW WKLQJV DOO DORQJ DQG HVSHFLDOO\ IRU )9I&4'*"1)*)&63*)"*#%"";*%392*6$*2"51634)=*>9&:*;"%*(3%*5"4?)94)*345"1%9'3634)* 942* 8"<3* )(9)* I3#)* 63* '"&4'=* R99?(&2:* ;"%* 73&4'* 9* G"423%;18* 7%")(3%* 942* (&?* "559?&"498*#%94I?*)(9)*8&'()3432*6$*6""2=

"%$,($,-

./(((((01)23456)031 .7(((((89))018(!):2)94 ;/((((()<9(=93=>9(0(?32@94(?0)< ;A(((((()<9(631)9B) A;((((((29C929169(6:!9(!)5409!

AD((((((9E=>3F92(G2:14(G50>4018 H/(((((()<9(C>0=@:2)(!)32F HI((((((C>0=@:2)(@014(3C(=93=>9 7J(((((()<9(9E=>3F92(G2:14()<9E9 KI((((((L0!5:>!(C32(?324!

J/(((((()<9(?9G!0)9 JJ((((((29C929169((:!9(!)5409! ./.(((()<9(49!081(=2369!! ..A((((49!081(49L9>3=E91) .AJ((((49L9>3=92M!(914 .7.((((()<9(C>0=@:2)(9B=9209169 (( .7I(((()<9(>:!)(?324

./ 0$,1%)2",0%$ !"!##$%&'(#)*+ !",##(-.#+*/0&1$#/2&3.4( !"5##(-.#6'*+. !"7##189.0: !";##/2&3.4(#/2&/&9$0

..

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!"#$%&'()*+,%-&.&/0(+($*#10-&2%1#*+"%3+4&5#+6(3#7&!3,+6+)+%&(8&9%,6$34&:0"%2#;#2

!"!

!3%2,4$0)

T(3* E9)&"498* F4?)&)1)3* ";* A3?&'4* MEFAN:* F42&9* &?* &4)3%49)&"4988$* 95589&632* 9?* "43* ";*)(3*;"%36"?)*618)&D2&?5&#8&49%$*&4?)&)1)&"4*";*23?&'4*32159)&"4*942*%3?39%5(=*F)* &?* 94* 91)"4"6"1?* &4?)&)1)&"4* 1423%* )(3* 93'&?* ";* )(3* U&4&?)%$* ";* !"663%53* 942* F421?)%$:*@"<3%4634)*";*F42&9=

,5(4)06'%+!461%7(",

$V D SDUW RI FXUULFXOXP DOO È´QDO \HDU VWXGHQWV DW WKH 1DWLRQDO Î&#x2013;QVWLWXWH RI 'HVLJQ 9%3* %3[1&%32* )"* )9I3* 1#* 9* ;188D?5983* 23?&'4* #%"Q35)* &4* )(3* &421?)%$=* T(3* #%"Q35)* PXVW UHȵHFW WKH VWXGHQWÈ&#x2021;V DELOLW\ DQG XQGHUVWDQGLQJ WR KDQGOH FOLHQW VHUYLFH DQG '343%9)3*9*#%";3??&"498*23?&'4*9??&'4634)=*T(3*3H#35)32*21%9)&"4*";*)(3*#%"Q35)* &?*]D^*6"4)(?*942*"4*?1553??;18*5"6#83)&"4*&)*&?*3<9819)32*7$*9*Q1%$*";*EFA*;9518)$* 942*3H)3%498*3H#3%)?*;"%*)(3*9G9%2*";*)(3*EFA*2&#8"69=

!",

!"5

,5(4*20)( !"7

+8-('9

R1#3?(*S$9?:*034&"%*;9518)$*&4*)(3*23#9%)634)*";*5"6614&59)&"4*23?&'4*&4*EFA:* >(6329792:*F42&9=*V3*98?"*(392?*)(3*F4;"%69)&"4*T35(4"8"'$*23#9%)634)*9)*EFA* 942*(9?*98?"*7334*)(3*5""%2&49)"%*";*@%9#(&5*A3?&'4*&4*(&?*)341%3*9)*EFA= Î&#x2013; DP D È´QDO \HDU JUDSKLF GHVLJQ VWXGHQW DW WKH 1DWLRQDO Î&#x2013;QVWLWXWH RI 'HVLJQ >(6329792:*F42&9=*>#9%)*;%"6*)(9)*F*96*98?"*9*<&<&2*%3923%*942*F*8"<3*)"*)98I=*F*(9<3* 9*#9??&"4*;"%*7""I?*942*5"8835)&4'*)(&4'?*9?*636"%&3?=*F*8&I3*)"*)%9<38*942*5""I=*F* 8&I3*)"*?#342*6$*)&63*839%4&4'*43G*)(&4'?=*F*)%$*942*I33#*6$?38;*?1%%"14232*7$* #3"#83:*G("*&4?#&%3*63=

.; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

!";

61%7(",461%6%-!'

=23N96)(O?32@018P()0)>9 J6#8"$3%*X%942&4'*Z"%*Z8&#I9%)=5"6

G:6@823514((:14(631)9B)

Z8&#I9%)=5"6*&?*94*"48&43*?("##&4'*G37?&)3*)(9)*G&?(3?*)"*4"G*&4<3?)*&4*9*7%942&4'* ?"81)&"4*;"%*)(3&%*36#8"$3%*7%942*)"*5%39)3*9*14&[13*3H#3%&3453*;"%*)(3&%*36#8"$33?* 942* 43G8$* %35%1&)32* 63673%?=* Z8&#I9%)=5"6* (9?* 9* 5"14)%$* G&23* 43)G"%I* G(&5(* #%"<&23?*<9%&"1?*I&42?*";*?("##&4'*"#)&"4?*;"%*)(3&%*1?3%?*&45812&4'*"48&43*794I&4':* 59?(*"4*238&<3%$:*'&;)&4'*?"81)&"4?:3)5=

!63=9(3C(?32@

T"* 71&82* 9* <&?198* ?)%9)3'$* 942* 5"6614&59)&"4* 69)3%&98?* ;"%* )(3* 36#8"$3%* 7%942* ";* Z8&#I9%)=5"6=* T(3* #%"Q35)* G"182* 73* 9* )396* #%"Q35)* G&)(* 95)&<3* ;332795I* 942* '1&29453*;%"6* )(3* )396=* * T(3* 9##%"95(* G"182*73* )"* #%"<&23*9* 5"6#83)3* 342*)"* 342*7%942&4'*?"81)&"4*G&)(*9*?3)*";*238&<3%9783?*9?*%3[1&%32*7$*)(3*58&34)=

)91):)0L9(49>0L92:G>9!

S&?198*23?&'4*;"%*)(3*36#8"$3%*7%942 M>*?3)*";*5%39)&<3?*)(9)*594*73*1?32*95%"??*36#8"$3%*7%942*5"6614&59)&"4N >*69Q"%*238&<3%9783*;"%*1?*&?*)(3*59%33%?*G37?&)3 X%942*'1&238&43?*;"%*)(3*36#8"$3%*7%942*M>*?3)*";*)36#89)3?*942*'1&238&43?N J6#8"$33*V9427""I*MB178&59)&"4*23?&'4N >2<3%)&?&4'*)36#89)3? >4$*")(3%*&44"<9)&<3*)""8*)(9)*(38#?*71&82*36#8"$33*)%95)&"4*3?#35&988$*21%&4'*)(3* (&%&4'*#%"53??

.A

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

)0E9(C2:E9

_%&34)9)&"4:*R3?39%5(*942*S&?198*)(363*23?&'4 3)4)&-56)+2'-,'/%.)).#'0)1#"2) !"#$%&'()#"*+',-.'/%.)).#'0)1#"2) J6#8"$33*(9427""I* R39?39%5(:*!"4)34)*942*F239)&"4 7.%+('*$"()&"+)#',-.')65&-8).'1.%+(' B%"Q35)*5"4581?&"4 =23=3!94()0E9(C2:E9 :6)5:>()0E9(C2:E9 319(E31)<(510)

=23N96)(!=31!32

R3`"494)*A3?&'4*03%<&53?:*X94'98"%3:*F42&9

=23N96)(85049 1:;<=>4?@A= 034&"%*Z9518)$:*@%9#(&5*A3?&'4 V392*F4;"%69)&"4*T35(4"8"'$ E9)&"498*F4?)&)1)3*";*A3?&'4:*>(6329792

.H !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

.B *(,,0$*4-,!1,() ,"!#/2&3.4(#&<.2<*.= ,",#/2&3.4(#6&$09 ,"5#(-.#0.$/ ,"7##(-.#:*29(#9(./

,"!

61%7(",4%?(1?0(&

$V SHU WKH LQLWLDO GLVFXVVLRQV WKH SURMHFW Î&#x2013; FKRVH WR ZRUN RQ ZKDW ZDV GHÈ´QHG DV DQ HPSOR\HU EUDQGLQJ SURMHFW IRU )OLSNDUW 7KLV QHHGHG WR EH FODULÈ´HG IXUWKHU DQG Î&#x2013; QHHGHG WR È´JXUH RXW ZKDW H[DFWO\ Î&#x2013; ZDV JHWWLQJ LQWR +HQFH EHJDQ WKH LQLWLDO UHVHDUFK )"*1423%?)942*G(9)*&?*36#8"$3%*7%942&4'*5"6#%&?32*";*942*G($*Z8&#I9%)*433232*&)= _<3%*)(3*5"1%?3*";*)(3*#%"Q35):*)(3*9##%"95(*3<"8<32*)"*5%39)3*9*5"4?&?)34)*"4*7"9%2&4'* 942*(&%&4'*3H#3%&3453*;"%*Z8&#I9%)*)9I&4'*&4)"*5"4?&23%9)&"4*)(3&%*3H&?)&4'*?$?)36?*942* 4332?=*T(3*#%"Q35)*&4<"8<32*9*8")*";*)"*942*;%"*&4)3%95)&"4*G&)(*)(3*58&34)*&4*"%23%*)"* FUHDWH VRPHWKLQJ WKDW WKH\ ZRXOG EH FRPIRUWDEOH XVLQJ DQG WKDW UHȵHFWHG WKHLU FRUH #(&8"?"#(&3?=* F)* 98?"* &4<"8<32* 1423%?)942&4'* 942* <&?198&?&4'* )(3* 34)&%3* #%"53??* 942* 9))36#)*)"*23?&'4*;"%*)(3*3H#3%&3453*942*4")*63%38$*)(3*&42&<&2198*9??3)?*)(9)*;"%632* &)=*>4")(3%*5%15&98*?)9'3*";*)(&?*#%"Q35)*&4<"8<32*&234)&;$&4'*)(3*23?&'4*4332?*9)*3<3%$* ?)9'3*942*?3#9%9)&4'*)("?3*;%"6*"%'94&?9)&"498*4332?=

.K !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

,",

61%7(",4*%!'-

0QQ#R%&S#(TU&'F234)&;$*942*23<38"#*9*)"#D83<38*)(363*)(9)* 594*?5983*95%"??*632&9 0)%3968&43*)(3*%35%1&)634)*69%I3)&4'* 5"6614&59)&"4 6WUHDPOLQH WKH VWDɝQJ H[SHULHQFH 5"6614&59)&"4

.D

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

>?*#3%*)(3*&4&)&98*#%"#"?98*)(3*#%"Q35)*(92*?"63*<3%$*"#)&6&?)&5*'"98?*)"*73*63)=* Z"%)149)38$*&4*6$*;9<"1%:*)(3*58&34)*G9?*I4"G4*)"*73*9*;9?)*#9532*5"6#94$*)(9)* 738&3<3?*&4*'3))&4'*)(&4'?*2"43=*T(3*#%"Q35)*)&638&43*?#94432*"<3%*9*#3%&"2*";*C* PRQWKV LQFOXGLQJ WKH ȴQDO H[HFXWLRQ RI DOO WKH GHVLJQ GHYHORSPHQW EXW Ζ FKRVH )"*G"%I*"4*9*#9%)*";*&)*G(&5(*;"51?32*"4*#%3*942*#"?)*Q"&4&4'*#(9?3?*G(&5(*G9?*)"* 73*5"6#83)32*&4*9*#3%&"2*";*]*6"4)(?*942*G(&5(*G"182*98?"*?3)*9*2&%35)&"4*;"%*)(3* %3?)*";*)(3*#%"Q35)=*T(%"1'(*)(&?*F*98?"*("#32*)"*<&?198&?3*9*5"6#83)3*3H#3%&3453* 23?&'432*)"*69I3*)(3*Z8&#I9%)*"47"9%2&4'*3H#3%&3453*94*34'9'&4'*942*636"%9783* "43* 942* ("G* 23?&'4* &4)3%<34)&"4?* 5"182* 9&2* )(&?=* a3* 98?"* "1)8&432* )(3* '"98?* G3* G&?(32*)"*95(&3<3*9?*9*)396*)(%"1'(*)(&?*#%"Q35)=*T(3*#%"Q35)*'"98?*G3%3*#%&"%&)&?32* &4)"*)(%33*?)9'3?*&4*"%23%*)"*?)%3968&43*)(3*G"%I=

E#R%VQWS#XQ(TU&'0)%3968&43*)(3*"47"9%2&4'*3H#3%&3453 6LPSOLI\ WKH ȴUVW GD\ IRUPDOLWLHV 6WUHDPOLQH WKH ȴUVW ZHHN DFWLYLWLHV

>U+TWS#XQ(TU&'0)%3968&43*36#8"$33*34'9'3634)* 5"6614&59)&"4 A3?&'4*)(3*;332795I*635(94&?6*;"%*)(3* "47"9%2&4'*3H#3%&3453

,"5

,5(4'(!6

T(3%3*G3%3*9*5"1#83*";*%39?"4?*;"%*G(&5(*F*5("?3*)(&?*#%"Q35)*9?*6$*2&#8"69*#%"Q35)= T(3*#%"Q35)*(92*9*%398*58&34):*G(&5(*6394)*F*G"182*73*G"%I&4'*"4*9*%398*)&63*#%"Q35)* G&)(*94*95)198*58&34)=*T(&?*98?"*6394)*F*G"182*839%4*)"*&4)3%95)*G&)(*9*58&34)*942*'9&4* 94*&4?&'()*&4)"*)(3*G"%I&4'*63)("2?*;"88"G32*&4*)(3*&421?)%$= T(3*#%"Q35)*&4<"8<32*9*8")*";*?$?)36?*)(&4I&4'*942*?)%3968&4&4'*)(3*34)&%3*#%"53??* ";* (&%&4'* #3"#83* 9)* Z8&#I9%)=* J<34* )("1'(* 9)* )(3* #%&69%$* 83<38* &)* G9?* 9* 7%942&4'* #%"Q35):*&)*98?"*(92*&6634?3*?5"#3*;"%*839%4&4'*"%'94&?9)&"498*?I&88?= T(3* #%"Q35)* 2&24b)* (9<3* 9* ?&4'189%* "1)5"63* 71)* &4<"8<32* 5%39)&4'* 94* 34'9'&4'* 3H#3%&3453=* T(&?* 6394)* 5%39)&4'* 9* ("8&?)&5* 23?&'4* )(9)* 5"182* 73* ?59832* 95%"??* GL΍HUHQW DSSOLFDWLRQV T(3*#%"Q35)*98?"*&4<"8<32*G"%I&4'*&4*9*)396*)(9)*6394)*6"%3*"#&4&"4?:*&239?*942* 2379)&4'*)"*9%%&<3*9)*)(3*73?)*#"??&783*?"81)&"4= a"%I&4'*;"%*7%942*9?*G388*I4"G4*9?*Z8&#I9%)*G"182*73*9*5(98834'3*942*F*G9?*3H5&)32* 97"1)*&)=

,"7

,5(4901-,4-,(6

ΖQ WKH ȴUVW GLVFXVVLRQ DERXW WKH SURMHFW LW ZDV PHQWLRQHG WKDW WKH SURMHFW ZDV 97"1)* 71&82&4'* 9* 7%942* ;"%* )(3* 58&34)* 7$* 1423%?)942&4'* )(3&%* 518)1%3* 5"6#83)38$=* T(3* #%"53??* )(9)* G"182* 73* ;"88"G32* ;"%* )(3* #%"Q35)* G9?* 9* 23)9&832* ?)3#D7$D?)3#* DSSURDFK IURP UHVHDUFK WR H[HFXWLRQ RI WKH ȴQDO GHOLYHUDEOHV X3;"%3*Q"&4&4'*R3W"494)*?"63*&4&)&98*%3?39%5(*97"1)*)(3*58&34)*(92*98%392$*7334* )%&''3%32*7$*)(3*)396=*V3453:*&)*G9?*5%15&98*)"*'3)*95[19&4)32*G&)(*)(3*58&34)*942*)"* 97?"%7*)(3*%3?39%5(*73;"%3*6"<&4'*9(392=*F)*G9?*98?"*4353??9%$*)"*2&'*233#3%*&4)"* 9*;3G*)3%6?*)(9)*G3%3*&4)%"21532*&4*"%23%*)"*)("%"1'(8$*1423%?)942*G(9)*G"182* 73*2"43=*0&453*)(3*#%"Q35)*G9?*9)*9*?)9'3*)(9)*%3[1&%32*9*8")*";*&239)&"4:*&)*)""I*1?* 9*G(&83*)"*'3)*95[19&4)32*)"*395(*")(3%b?*G9$*";*G"%I&4'*942*&4*)(3*#%"53??*)(3%3*

.J !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

ZHUH D ORW RI GLVFXVVLRQV GHEDWHV DQG FRXQWOHVV QXPEHU RI FR΍HHV 7KLV ȴUVW VWHS ?3)*)(3*5"1%?3*;"%*)(3*%3?)*";*)(3*#%"Q35)=*>42*3<34*)("1'(*9)*)(&?*#"&4)*4"43*";* 1?* G3%3* 9G9%3* ";* G(9)* )(&?* G("83* )(&4'* G"182* )1%4* "1)* )"* 73:* &)* G9?* &4)3%3?)&4'* 73591?3*)(3*)396*5"4?&?)32*";*9*<9%&3)$*";*#3"#83*942*395(*"43b?*#"&4)*";*<&3G*8392* )"*9*43G3%*&4?&'()=*>;)3%*)(3?3*;3G*&4&)&98*2&?51??&"4?*942*7%9&4?)"%6?*G3*G3%3*9783* WR FKDUW RXW WKH QH[W IHZ RQHV EXW DW OHDVW ZH ZHUH SDVW WKH ȴUVW RQH

.I

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

.C ,5(46(%6'(404 &%1#()4&0,5 5"!#(-.#9/&)9&2 5",#/.&/0.#$(#2.>&)$)( 5"5#=-&#+*+#=-$(?

5"7##(-.#=&2@:&24.

5"!

,5(4-6%$-%1

5H]RQDQW 'HVLJQ LV D GHVLJQ DQG DGYHUWLVLQJ ȴUP EDVHG LQ %DQJDORUH ΖQGLD 5H]RQDQW &?* .,* $39%?* "82* 942* (9?* #%"21532* 9* (1'3* [194)16* ";* G"%I* 942* G"%I32* G&)(* 9* G&23* <9%&3)$* ";* 58&34)?=* T(3* 5"6#94$* )9I3?* 1#* #%"Q35)?* &4<"8<&4'* J4<&%"4634)98* @%9#(&5?:*X%942&4':*a37D23?&'4:*B%&4)*942*B95I9'&4'=

6(%6'(4!,41(D%$!$,

5H]RQDQW KDV D EULJKW WHDP RI SHRSOH IURP GL΍HUHQW VSKHUHV RI OLIH :RUNLQJ )"'3)(3%* &?* I3$* (3%3=* T(3* ?)12&"* &?* 7%&66&4'* G&)(* 2&?51??&"4?:* 633)&4'?:* ?"63* "559?&"498* #%94I?:* 61?&5:* 9* ;3G* #94&5* 6"634)?* 942* ?"63)&63?* Q1?)* [1&3)* &4)%"?#35)&<3*&4)3%<98?=*T(3*?)12&"*&?*2"43*1#*G&)(*&4?#&%&4'*#%&4)?*942*;%963?*";* G"%I*"4*)(3*G988?=*J95(*&42&<&2198*(9?*9*14&[13*?I&88*)(9)*922?*1#*)"*)(3*;"%53*)(9)* UXQV WKH ȴUP &R΍HH DQG WHD DUH DQ LQWHJUDO SDUW RI WKH FXOWXUH KHUH GXULQJ ZKLFK #3"#83*(3%3*'3)*)"*I4"G*395(*")(3%=*T(3*)396*9)*R3W"494)*5"6#%&?32*";*23?&'43%?:* &881?)%9)"%?*942*5%39)&<3*G%&)3%?=

5",

5"5

&5%4)0)4&5!,E

;.

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

2Q P\ ȴUVW GD\ DW ZRUN Ζ ZDV TXLFNO\ LQWURGXFHG WR D FORVH WHDP RI SHRSOH Ζ ZRXOG EH ZRUNLQJ ZLWK RQ WKH SURMHFW DV ZHOO DV RWKHU SHRSOH DW WKH OLYHO\ RɝFH 7KH WHDP (39232*7$*V9%&:*)(3*5(&3;*<&?198*)(&4I3%:*5"4?&?)?*";*)G"*5%39)&<3*G%&)3%?:*X(9%9)*942* >4942*942*94")(3%*&881?)%9)"%*942*'%9#(&5*23?&'43%:*B&9=*a3*G3%3*9783*)"*'38*G388* 942*?(9%3*?"63*";*)(3*G"%I*)(3*G"%I*)(9)*(92*98%392$*7334*2"43*"4*)(3*#%"Q35)=* T(3*;9?)*#953*";*)(3*#%"Q35)*59)98$W32*"1%*'3))&4'*95[19&4)32*#%"53??=

5"7

,5(44&%1#9%1"(

UB*V9%&(9%94 !(&3;*S&?198*T(&4I3%

>?6&49*0(9&I( S&?198*T(&4I3%

X(9%9)*U&%83 !%39)&<3*a%&)3%

>4942*S&Q9$9?&6(9 !%39)&<3*a%&)3%

;; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

B&9*U3349I?(& F881?)%9)"%

.F ,5(4"%$,(G, 7"!##%'*0+*)6#(-.#%$4@62&')+ 7",##.1/0&8.2#%2$)+*)6## 7"5##.1/0&8.2#%2$)+*)6#$)+#*)(.2)$0#1$2@.((*)6 7"7##.4&11.24.#*)#*)+*$ 7A;##(-.#(2.)+ 7"B##62&=(-#&:#(-.#.4&11.24.#*)+'9(28 7"C##4-$00.)6.9#*)#(-.#9.4(&2 7"D##:'('2.#&:#.4&11.24.

7"E##(-.#/984&0&68#&:#/2&+'4(*<*(8##

7"!

320')0$*4,5(43!"#*1%2$)

7", (+6'%8(1431!$)0$*

T"*73'&4*G"%I&4'*"4*)(3*#%"Q35)*)(9)*&?*988*97"1)*J6#8"$3%*X%942&4':*9*;3G*79?&5* WHUPV QHHGHG WR JHW WKHLU GHȴQLWLRQ LQ SODFH $ SUH GHȴQHG GHȴQLWLRQ VHHPHG WR 69I3*)(&4'?*5839%3%=

J6#8"$3%* 7%942* 234")3?* 94* "%'94&?9)&"4b?* %3#1)9)&"4* 9?* 94* 36#8"$3%=* T(3* )3%6* ZDV ȴUVW XVHG LQ WKH HDUO\ V DQG KDV VLQFH EHFRPH ZLGHO\ DGRSWHG E\ WKH JOREDO PDQDJHPHQW FRPPXQLW\ 0LQFKLQJWRQ GHȴQHV HPSOR\HU EUDQG DV c)(3*&69'3*";*$"1%*"%'94&?9)&"4*9?*9*d'%39)*#8953*)"*G"%Ibe=*J6#8"$3%*7%942&4'*&?* 5"453%432*G&)(*34(945&4'*$"1%*5"6#94$b?*36#8"$3%*7%942=**** <&=6>61%26#&&&*** >4")(3%*&6#"%)94)*)3%6*942*&)?*%389)&"4*)"*36#8"$3%*7%942&4'*)(9)*433232*)"*73* 1423%?)""2*G9?*&4)3%498*69%I3)&4'=*U94$*7&'*5"6#94&3?*942*7%942?*G&)(*9*<3%$* ?)%&5)*7%942*#(&8"?"#($*"#)*;"%*&4)3%498*69%I3)&4'*)"*5"6614&59)3*)(3&%*#%95)&53?* 942*3H#35)9)&"4?*)"*)(3&%*36#8"$33?*9?*)(3*36#8"$33b?*%"83*#89$?*9*<3%$*&6#"%)94)* )"* ("82* )(3* 7%942* )"'3)(3%=* V3453* &)* &?* 4353??9%$* )"* 5"6614&59)3* )(3* 7%942* SKLORVRSK\ DQG YDOXHV H΍HFWLYHO\ DQG FRKHVLYHO\

7"5 (+6'%8(1431!$)0$*4H4 0$,(1$!'4+!1#(,0$*

F4)3%498*69%I3)&4'*;"51?3?*"4*5"6614&59)&4'*)(3*51?)"63%*7%942*#%"6&?3:*942* )(3*9))&)123?*942*73(9<&"1%?*3H#35)32*;%"6*36#8"$33?*)"*238&<3%*"4*)(9)*#%"6&?3=* :KLOH LW LV FOHDUO\ EHQHȴFLDO WR WKH RUJDQLVDWLRQ IRU HPSOR\HHV WR XQGHUVWDQG WKHLU UROH LQ GHOLYHULQJ WKH FXVWRPHU EUDQG SURPLVH WKH H΍HFWLYHQHVV RI LQWHUQDO 69%I3)&4'*95)&<&)&3?*594*";)34*73*?("%)D8&<32*&;*)(3*36#8"$33?*&4*)(3&%*&4)3%95)&"4?* G&)(* )(3* "%'94&?9)&"4* 2"* 4")* 3H#3%&3453* )(3* 7%942* <9813?* "4* G(&5(* )(3* ?3%<&53* 3H#3%&3453*&?*;"14232=

;H !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

7"7

("%++(1"(40$40$)0!

(FRPPHUFH RU HOHFWURQLF FRPPHUFH LV GHȴQHG DV EXVLQHVV WKDW LV FRQGXFWHG RYHU )(3*F4)3%43)*7$*1?&4'*94$*";*)(3*9##8&59)&"4?*)(9)*%38$*"4*)(3*F4)3%43)=*J5"663%53* 594*73*73)G334*)G"*71?&43??3?*)%94?6&))&4'*;142?*MX,XN:*'""2?:*?3%<&53?*942f"%* 29)9*"%*73)G334*9*71?&43??*942*9*51?)"63%*MX,!N= J5"663%53* 2%9G?* "4* )35(4"8"'&3?* ?15(* 9?* 6"7&83* 5"663%53:* 3835)%"4&5* ;142?* )%94?;3%:* ?1##8$* 5(9&4* 6949'3634):* &4)3%43)* 69%I3)&4':* "48&43* )%94?95)&"4* #%"53??&4':* 3835)%"4&5* 29)9* &4)3%5(94'3* MJAFN:* &4<34)"%$* 6949'3634)* ?$?)36?:* 942* 91)"69)32* 29)9* 5"8835)&"4* ?$?)36?=* U"23%4* 35"663%53* )$#&5988$* 1?3?* )(3* a"%82*a&23*a37*9)*839?)*9)*"43*#"&4)*&4*)(3*)%94?95)&"4b?*8&;3*5$583:*98)("1'(*&)*69$* 345"6#9??* 9* G&23%* %94'3* ";* )35(4"8"'&3?* ?15(* 9?* 3D69&8:* 6"7&83* 23<&53?* ?"5&98* 632&9:*942*)383#("43?*9?*G388=

7";

*1%&,54%94,5(4 ("%++(1"(40$)2-,18

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g*&4*)(3*F42&94*69%I3)?=*>*7&'*92<94)9'3*;"%* )(3*"48&43*69%I3)3%?*&?*)(9)*)(3$*594*59)3%*)"*9*G"%82G&23*5"4?163%*79?3=*F)b?*39?$:* ?9<3?*)&63*942*69I3?*'8"798*)%923*39?&3%=

;7 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

R3)9&8*'%"G)(*&4*3D!"663%53*&4*F42&9*(9?*7334*#%&69%&8$*;13832*213*)"*)(3*;"88"G&4'* ;95)"%?K T(3*<9?)*?#%392*'%"G)(*942*1?9'3*";*)(3*F4)3%43)= 03<3%98*?)9%)1#*<34)1%3?*'3))&4'*)(3*%3[1&%32*;142&4'*;%"6*S34)1%3*!9#&)98*;142?* "%*B%&<9)3*J[1&)$*;142?=** >''%3??&<3*69%I3)&4'*7$*)(3*#89$3%?*'"&4'*"48&43= !"4?163%*4332*942*5"4<34&3453*)"*71$*)(3?3*#%"215)?*"48&43= %XV\ OLIHVW\OHV XUEDQ WUDɝF FRQJHVWLRQ DQG ODFN RI WLPH IRU RɞLQH VKRSSLQJ 7KH \RXQJHU SRSXODWLRQV ȴQG RQOLQH WUDQVDFWLRQV HDVLHU DQG FRQYHQLHQW

,FFC

,FFE

,F!!

,F,7G,;

963EE9269()2:1!:6)031!(01(0140: ;K !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

823?)<(3C(963EE9269(01(:!0:(=:60C06 .9(*1$(.+#4$62#%.(=..)#,F!,G,F!B

4080):>(63EE9269(E:2@9)(3C(0140: 62&=(-# 2$(.

#

+.4.1%.2#,F!, .9(*1$(.#:&2#,F!5

01)9219)(=3=5>:)031(3C(0140: 62&=(-# 2$(.

/B.4+0''0%$ ,F!! /I.4+0''0%$ ,F!,

E3G0>9(=919)2:)031(01(0140: 62&=(-# 2$(.

1&%*0.#*)(.2).(#'9.29

%'8#/2&+'(9# &)#1&%*0.

;D !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

7"B

"5!''($*(-40$4,5(4-(",%1

J<34*)("1'(*)(3*35"663%53*&421?)%$*?336?*8&I3*)(3*43G3?)*942*5"4<34&34)*G9$* )"*?("#:*&)*%3[1&%3?*9*8")*";**"%'94&?9)&"4*9)*)(3*795I342*)"*5%39)3*9*1?3%*;%&3428$* 3H#3%&3453* ;"%* )(3* 1?3%?=* T(3* 35"663%53* &421?)%$* &4* F42&9* 98?"* ;953?* 53%)9&4* 5(98834'3?*73591?3*";*)(3*6"238*";*71?&43??*&)*;"88"G?=*0"63*";*)(3?3*5(98834'3?* 9%3K S3%$* 8"G* #343)%9)&"4* ";* 5%32&)f237&)* 59%2?* &4* F42&9:* G(&5(* %3?)%&5)?* )(3* "48&43* #1%5(9?&4'*#"G3%= V&'(*<"8163*&)36?*?15(*9?*%3;%&'3%9)"%?*%3[1&%3*(&'(*;%3&'()*h*?(&##&4'*5"?)?*942* 73591?3*)(3*35"663%53*6"238*&4*F42&9*&?*79?32*"4*;%33*?(&##&4'*5"453#):*?983*";* VXFK LWHPV RQOLQH FRXOG VX΍HU D VHWEDFN T(3*2&?)%&71)&"4*h*8"'&?)&5?*&4*F42&9*&?*4")*<3%$*G388*"%'94&W32*942*#%"43*)"*;%912= Y"'&?)&5?*";*238&<3%&4'*)(3*#%"215)?*942*"4*)&63*?)&88*4332*)"*73*G"%I32*1#"4*)"* 69I3*)(3*43)G"%I*?)%"4'3%= 9HQGRUV VWLOO ZRUN ZLWK DQ LQHɝFLHQW LQYHQWRU\ PDQDJHPHQW V\VWHP 7KLV VORZV 2"G4*)(3*#%"53??*942*&4*)1%4*69I3?*)(3*1?3%*3H#3%&3453*G39I3%=

;J !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

7"C

92,21(4%94("%++(1"(

T(3*I3$*)"*?1553??*&4*)(&?*?3'634)*&?*238&<3%&4'*(&'(*[198&)$*1?3%*3H#3%&3453*G(&5(* LQFOXGHV GL΍HUHQWLDWHG DQG GHWDLOHG SURGXFW FDWDORJV RUGHU IXOȴOOPHQW ZHEVLWH SHUIRUPDQFH GL΍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΍HUHQWLDWHG SURGXFW FDWDORJV LQQRYDWLYH VHUYLFH DQG FXVWRPHU HQJDJHPHQW FRQFHSWV DQG FRVW H΍HFWLYH ?1##8$*5(9&4*942*8"'&?)&5?*6"238?=

;I !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

7"D

"!1((1-40$4,5(4 ("%++(1"(40$)2-,18

U"?)*35"663%53*5"6#94&3?*&4<3?)*&4*)(3*)"#*6&42?*&4*)(3*5"14)%$**(&%&4'*;%"6*)&3%* F*942*FF*5"883'3?*&4*"%23%*)"*34?1%3*?1553??*&4*)(3*69%I3)=*T(3*5"?)*";*(&%&4'*)(3*)"#* )9834)*34?1%3?*)(3&%*#"?&)&"4*942*%3#1)9)&"4*&4*)(3*69%I3)= F42&9b?*89%'3*5"4?163%*79?3*69I3?*&)*9*<3%$*9))%95)&<3*69%I3)*?&)3*;"%*)(3*7""6*";* DQ LQGXVWU\ OLNH HFRPPHUFH 7KH HFRPPHUFH LQGXVWU\ SURYLGHV PXOWLSOH EHQHȴWV WR &)?*5"4?163%?*942*69I3?*?("##&4'*3H#3%&3453?*39?&3%*)(94*3<3%*73;"%3=*F4*"%23%*)"* 69I3*9*?1553??;18*35"663%53*)%94?95)&"4:*)(3*?$?)36*)(3*&421?)%$*%14?*"4*4332?* WR EH PDGH PRUH HɝFLHQW WR FUHDWH VHDPOHVV H[SHULHQFHV IRU WKHLU FRQVXPHUV >42*(3453*)"*73*9783*)"*5%39)3*?15(*?39683??*3H#3%&3453?*942*)"*?)942*1#*)"*)(3* 5"6#3)&)&"4*&4*9*'%"G&4'*69%I3)*8&I3*F42&9:*)(3*5"6#94&3?*&4<3?)*(39<&8$*)"*(&%3*)(3* 73?)*";*)(3*6&42?=*T"*(94283*)(3*#%3??1%3*";*?15(*5"6#3)&)&"4:*)(3*#")34)&98*)9834)* &?*3H#35)32*)"*(9<3*53%)9&4*&449)3*[198&)&3?*;"%*&4?)9453:*&423#3423453*";*)("1'()* 942*)(3*#9??&"4*)"*71&82*?"81)&"4?*"4*)(3&%*"G4= a&)(*)(3*%9#&2*942*&4?)94)*'%"G)(*";*)(3*&421?)%$:*)(3*'%"G)(*";*)(3*)9834)*G"%I&4'* &4*)(&?*?35)"%*&?*98?"*34?1%32=*a&)(*)(3*51%%34)*'%"G)(*)%342?*";*)(3*35"663%53* &421?)%$*&4*F42&9:*6"?)*#3"#83*G"%I&4'*&4*)(&?*?35)"%*?336*)"*73*"#)&4'*;"%*"#)&"4?* ";*&4?)94)*'%"G)(=*V3453:*)(3*%3)34)&"4*;95)"%*&4*)(3?3*5"6#94&3?*&?*;988&4'=*T(9)* &?*"43*";*)(3*#%&69%$*%39?"4?*;"%*G(&5(*)(3*5"6#94&3?*9%3*&4<3?)&4'*4")*"48$*&4* (&%&4'*)(3*73?)*";*)(3*6&42?*71)*98?"*)"*69I3*?1%3*)(3$*?)&5I*"4*942*'%"G*G&)(*)(3* 5"6#94$=

A/ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

7"E

,5(46-8"5%'%*84%9461%)2",0?0,8

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ȴFDWLRQ IURP D UHSXWHG LQVWLWXWH 7R HQVXUH D 53%)9&4*%3#1)9)&"4*&4*69%I3):*694$*5"6#94&3?*(9<3*4"G*%398&?32*)(3*&6#"%)9453* ";*&423#34234)*)(&4I&4'*942*)(3*97&8&)$*)"*71&82*?"81)&"4?*&4*)(3&%*36#8"$33?:*G(&5(* 69I3?*)(3*#%"53??*";*(&%&4'*43G*)9834)*3<34*6"%3*5"6#8&59)32*942*&6#"%)94)=

A.

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

.I 1(9(1($"(4"!-(4-,2)0(;"F#1$(2*H#'9.+#:&2#$)$089*)6#<$2*&'9#%2$)+9#*)#(-.#9.4(&2 ;"!#$1$>&)"*) ;",#9)$/+.$0 ;"5#1$@.#18#(2*/

A; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

T(3%3*G3%3*9*41673%*";*59?3*?)12&3?*F*8""I32*9)*&4*"%23%*)"*1423%?)942*("G*)(3* ")(3%* 5"6#3)&)"%?* G3%3* 2398&4'* G&)(* )(3* 5%15&98* )9834)* 95[1&?&)&"4* #%"53??=* T(3* 59%33%?* G37?&)3* G9?* )(3* 6"?)* 9553??&783* 632&16* )(%"1'(* G(&5(* F* 5"182* ?)12$* )(3*36#8"$3%*7%942?*";*)(3*5"6#94&3?=*>8?":*"43*";*)(3*69Q"%*238&<3%9783?*";*)(&?* #%"Q35)*G9?*9*59%33%?*?&)3:*G(&5(*G"182*73*)(3*3H)3%498*;953*";*)(3*36#8"$3%*7%942* ";* Z8&#I9%)=* V3453:* 9* ?)12$* ";* )(3* 59%33%* ?&)3?* ";* )(3* 6"?)* G94)32* 7%942?* &4* )(3* HFRPPHUFH VHFWRU VHHPHG D JRRG SRLQW WR VWDUW R΍ IURP

;"F +!,10G42-()4,%4!$!'8-(44?!10%2-4 31!$)-40$4,5(4-(",%1

31!$)4$!+(44!$)4)(-"106,0%$ (+6'%8(1431!$)4+(--!*(

&(3-0,(4 -"1((-$-5%,-

$%,(-4%$42-(140$,(1!",0%$ $%,(-4%$4?0-2!'4'!$*2!*(

&(3-0,(4'0$#

AA !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

($*!*(+($,

0$9%1+!,0?(

1(!"54H4'(!)4*($(1!,0%$

?0-2!'4!66(!'

V"G*615(*2"3?* )(3*G37?&)3* 5"4)34)*I33#*)(3* 1?3%*&4)3%3?)32i

V"G*615(*5"4)34)* 942*<&?198?*&?*)(3%3* "4*)(3*G37?&)3=* V"G*1?3;18*&?*)(3* &4;"%69)&"4i

V"G*694$*#")34)&98*5942&29)3?* 9##8&32*;"%*Q"7?*)(%"1'()*)(3* G37?&)3*"%*839%4)*97"1)*&)i

V"G*615(*2"3?* )(3*G37?&)3*9##398* <&?1988$*)"*&)?*1?3%?i

;"! !+!D%$J0$

$PD]RQ D )RUWXQH FRPSDQ\ EDVHG &4*039))83:*a9?(&4')"4:*&?*)(3*'8"798* OHDGHU LQ H FRPPHUFH -H΍ %H]RV VWDUWHG $PD]RQ LQ $PD]RQ LQ LV D YHQWXUH RI $PD]RQ PHDQW VSHFLȴFDOO\ IRU WKH F42&94*69%I3)= a"%I*V9%2:*V9<3*Z14:*U9I3*V&?)"%$j

T(3*1?3%*&4)3%95)&"4*&?*39?32*"1)*7$* 9*49<&'9)&"4*79%*"4*)"#*"4*)(3*&4?&23* #9'3?*G&)(*&5"4?*;"%*3<3%$*?35)&"4=*T(3* ?&6#83*89$"1)?*8392?*)(3*1?3%*)"*5(""?3* 3H95)8$*G(9)*(3*G94)?*)"*?33= T(3*?&)3*69&4)9&4?*9*?&6#83*)$#"'%9#(&5* (&3%9%5($*)"*59)3'"%&?3*)(3*5"4)34)=* F)*1?3?*9*<3%$*?&6#83*'%&2*942*<&?198* 383634)?=*

*SS"YZZ$&X##X-[&Q&\U+[%+Z

($*!*(+($, 0$9%1+!,0?( 1(!"54H4'(!)4*($(1!,0%$ ?0-2!'4!66(!'

T(3*97"<3*%9)&4'?*9%3*79?32*"4*#3%?"498*"#&4&"4?*942*4")*#1%3*?)9)&?)&5?=

AH !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

;", -$!6)(!'

049#2398=5"6*&?*94*"48&43*%3)9&8*G37?&)3:* (392[19%)3%32*&4*E3G*A38(&:*F42&9=*T(3* 5"6#94$*G9?*?)9%)32*7$*\1498*X9(8:*9* a(9%)"4*'%9219)3*942*R"(&)*X94?98:*94* 981641?*";*FFT*A38(&*&4*Z37%19%$*,-.-= E"*63??9'3 T(3*1?3%*&4)3%95)&"4*&?*6923*&4)3%3?)&4'* 7$*9*?&6#83*83;)*49<&'9)&"4*6341=*T(&?* G"%I?*9?*9*)%&''3%*)"*49<&'9)3*)(%"1'(* )(&?*?35)&"4=*F)*98?"*(9?*9*?3#9%9)3*8&?)&4'* ";*)(3*Q"7?*;"%*)("?3*&4)3%3?)32*&4*"48$* )(9)=

T(3*?&)3*69&4)9&4?*9*?&6#83*$3)*?8&'()8$* [1&%I$*)"43*)"*)(3*G("83*?&)3=

*SS"YZZ]]][-+&"R#&'[$UQZ%+^UZ_U`-

($*!*(+($, 0$9%1+!,0?( 1(!"54H4'(!)4*($(1!,0%$ ?0-2!'4!66(!'

T(3*97"<3*%9)&4'?*9%3*79?32*"4*#3%?"498*"#&4&"4?*942*4")*#1%3*?)9)&?)&5?=

A7 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

;"5 +!#(4+84,106

U9I3U$T%&#*73'94*&)?*3<34);18*Q"1%43$* &4*)(3*$39%*,---*7$*A33#*\98%9=*a(9)* ?)9%)32*9?*9*<34)1%3*)"*59)3%*)"*)(3* "48&43*k0*)%9<38*69%I3)*(9?*4"G*)9I34* )(3*?(9#3*";*F42&9b?*6"?)*%3#1)32*_48&43* T%9<38*B"%)98= a3*T395(:*a3*Y39%4:*a3*@%"Gj T(3*1?3%*&4)3%95)&"4*&?*?&6#83*71)*4")* <3%$*34'94&4'=*!3%)9&4*&4)3%95)&"4?* DUH GLɝFXOW WR VSRW DQG WKH VLWH ODFNV )%&''3%?= T(3*?&)3?*<&?198*894'19'3*4332?*9*534)%98* ;"51?*942*&?*4")*?"*34'9'&4'=*0"63*79?&5* 383634)?*";*)(3*1?3%*&4)3%;953*4332* UHȴQHPHQW

*SS"YZZ]]][-+&"R#&'[$UQZ%+^UZ_U`($*!*(+($, 0$9%1+!,0?( 1(!"54H4'(!)4*($(1!,0%$ ?0-2!'4!66(!'

T(3*97"<3*%9)&4'?*9%3*79?32*"4*#3%?"498*"#&4&"4?*942*4")*#1%3*?)9)&?)&5?=

AK !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

.K (+6'%8(14 31!$)4320')0$* B"!#.H/.4($(*&)9#:2&1#.1/0&8.2#%2$)+*)6 B",#5#@.8#&%3.4(*<.9

B"!

(G6(",!,0%$-491%+4 (+6'%8(1431!$)0$*

T(3%3* G3%3* ?3<3%98* %39?"4?* ;"%* G(&5(* Z8&#I9%)* ;38)* )(3* 4332* )"* &4<3?)* &4* 36#8"$3%?* 7%942&4'*;"%*)(36?38<3?=*k423%?)942&4'*)(&?*4332*G9?*"43*";*)(3*;"%36"?)*?)3#?*&4* 5%39)&4'*9*?"81)&"4*)(9)*G"182*?9)&?;$*)(3&%*4332?=*T(&?*G9?*98?"*9*5%15&98*?)3#*&4*)(3* #%"Q35)*9?*&)*;"%632*)(3*<3%$*79?&?*";*)(3*23?&'4*#%"Q35)=*F234)&;$&4'*)(3*#%"7836*942* WKH QHHGV ZDV WKH ȴUVW VWHS WR FUHDWLQJ D UHȴQHG VROXWLRQ EHVW VXLWHG WR LW 6RPH RI WKH 3H#35)9)&"4?*G3*("#32*)"*633)*&4*)(3*5"1%?3*";*)(&?*#%"Q35)*(9<3*7334*;%9632*738"G=

V38#*#%"?#35)&<3*5942&29)3?*1423%?)942*)(3*"##"%)14&)&3?*9)*Z8&#I9%)=* F6#%"<3*942*%323?&'4*)(3*"<3%988*"4*7"9%2&4'*942*34'9'3634)*3H#3%&3453= 0(9%3*)(3*518)1%3*942*95(&3<3634)?*";*Z8&#I9%)*G&)(*)(3*43G*Q"&433?= B%"Q35)*Z8&#I9%)*9?*9*$"14':*;9?)*#9532*942*9*<9813?*2%&<34*"%'94&W9)&"4= !"4<3$*)(3*"##"%)14&)&3?*)"*23?&%32*5942&29)3?= A3#&5)*Z8&#I9%)*9?*9*5""8:*;14*#8953*)"*G"%I*&4*G&)(*9*7%&88&94)*)396*";*#3"#83= 0&6#8&;$*942*?)%3968&43*)(3*"4*7"9%2&4'*#%"53??*;"%*#")34)&98*5942&29)3?=

AJ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

B",

C4#(84%37(",0?(0$-601( !"4<3$*)(3*%&5(*34)%3#%3431%&98*518)1%3 0("G59?3*)(3*#")34)&98*)(9)*#3"#83*594*%398&W3 !"6614&59)3*)(3*34Q"$9783*59%33%*Q"1%43$*)(9)*94*&42&<&2198*G&88*%38&?( 0("G59?3*)(3*"%'94&W9)&"4*9?*9*'"82*?)9429%2*;"%*'33I&43??

1(,!0$ R3)9&4*988*";*)(3*73?)*)9834)*G&)(&4*)(3*"%'94&W9)&"4 X1&82*9*(398)($*%3;3%%98*#%"'%96 J6#"G3%*#3"#83*34"1'(*)"*)%94?;"%6*)(36?38<3?*&4)"*9679??92"%?*";*Z8&#I9%) F4?)&88*9*89?)&4'*?34?3*";*"G43%?(&#*h*#%&23 !3837%9)3*G&4?

0$9%1+ X1&82*9G9%343??*97"1)*Z8&#I9%):*)(3*"%'94&W9)&"4 X1&82*9G9%343??*97"1)*Z8&#I9%):*)(3*)35(*?1#3%?)9% X1&82*9G9%343??*97"1)*"1%*#3"#83*942*"1%*G"%I !%39)3*9*I4"G832'3*79?3*942*5(94438?*";*&4;"%69)&"4 0("G59?3*Q"7*#"?&)&"4?*942*59%33%*)%9Q35)"%&3?

AI !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

.L ,5(49'06#!1,4-,%18 C"!##(-.#9(&28#&:#:0*/@$2(#9&#:$2#$)+#%.8&)+ C",##@)&=*)6#:0*/@$2( C"5##:0*/@$2(#*)#18#-.$+ C"7##=-$(#*9#:0*/@$2(?

C";##4&2.#<*9*&)#I#<$0'.9 C"B##(-.#+*::.2.)(#+./$2(1.)(9 C"C##(.4-)&0&68 C"D##2.($*0 C"E##9'//08#4-$*)#1$)$6.1.)( C"!F##4&2/&2$(.#:')4(*&)9

C"!

,5(4-,%184%949'06#!1,4-%49!14 !$)43(8%$)

)URP D FRPSDQ\ WKDW VWDUWHG R΍ ZLWK DQ LGHD WZR SHRSOH DQG D PLQLPDO LQYHVWPHQW RI 89I(?:*Z8&#I9%)*(9?*4"G*'%"G4*&4)"*94*"48&43*63'9*?)"%3*)(9)*9&6?*9)*l,-*X&88&"4*%3<3413* E\ ΖW VWDUWHG R΍ ZLWK RQH RɝFH LQ %DQJDORUH ΖQGLD LQ DQG KDV FRQWLQXHG )"*'%"G*%9#&28$*?&453*)(34:*)(9)*69I3?*&)*"43*";*)(3*;9?)3?)*'%"G&4'*5"6#94&3?*&4*)(3* HFRPPHUFH VHFWRU :LWKLQ D \HDU RI VHWWLQJ XS LW KDG RɝFHV DQG ZDUHKRXVHV LQ GL΍HUHQW FLWLHV LQ WKH FRXQWU\ ZLWK WKH PRVW ZLGHVSUHDG QHWZRUN IRU GHOLYHU\ RI JRRGV ΖW JHQHUDWHG D UHPDUNDEOH UHYHQXH RI 5V FURUHV LQ MXVW D \HDUȇV WLPH >?*&)*5"4)&413?*)"*3H#942:*Z8&#I9%)*4"G*(9?*?3#9%9)3*"%'94&?32*23#9%)634)?*)(9)*6949'3* )(3*"#3%9)&"4?*";*)(3*5"6#94$=*T(3*5"6#94$*(9?*&)?*"G4*)35(4"8"'$*23#9%)634)*832* 7$*?"63*";*)(3*73?)*)9834)*&4*)(3*5"14)%$*)(9)*)9I3?*59%3*";*)(3*"48&43*#%3?3453*942* 3H#3%&3453?*";*)(3*1?3%?=*F)*98?"*(9?*9*<3%$*?)%"4'*%3)9&8*23#9%)634)*)(9)*G"%I?*)"*69I3* WKH EXVLQHVV PRUH HɝFLHQW DQG GHYLFH VWUDWHJLHV WR ZRR FXVWRPHUV DQG PDNH RQOLQH ?("##&4'* 3H#3%&3453?* 815%9)&<3* 942* 5"4<34&34)=* F)* 98?"* (9?* )(3* 89%'3?)* ?1##8$* 5(9&4* 43)G"%I* &4* )(3* 35"663%53* &421?)%$* G&)(* 94* 3<3%D'%"G&4'* 51?)"63%* 79?3=* E"G* G&)(* H[SDQGLQJ RɝFHV DQG RYHU 5V FURUHV RI VDOHV SHU GD\ )OLSNDUW DLPV DW D ELOOLRQ %3<3413*7$*,-,-=

H.

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

+(%).

%23#.!+(.'()'",%')4+35#$"'.%"*($5'*+",' ())+-%!'#.&'*#$%,(/!%!'#-$(!!'6'-+"+%! ,&%,"-"

$%&'()*+* ,-./0(&1/0

!"#$"%&'()'*+",'",$%%' -%."$%!'#-$(!!'",%'-(/."$0' *+",(/"'#.0')/.&+.1

/0/!".

D:"*,-..-&1* -1E50/=

10#(

)*+('"!"+

D4-..-&1* %/G/15/

#""F*A3$%

$%3($"!'#'E88F'-(<3(/.&'#../#4' 1$(*",'$#"%'@-#1$B'0%#$9(.90%#$

3$+C#"%'%D/+"0'34#0%$'"+1#%$'14(;#4' <#.#1%<%."'+.)/!%!'?=8'<+44+(.

)4+35#$"'1%.%$#"%!'#.'#../#4' $%C%./%'()'?;+444+(.'$%C%./%

D!""*,-..-&1* E51=0*%3-0/=

')4+35#$"',#!'$#+!%&'?788'<+44+(.'@$!'=A788' -$($%B')$(<'%2+!"+.1'+.C%!"($!A'+.'#'&%#4' ",#"'<#$5!'",%'!+.14%94#$1%!"'$(/.&'()' )/.&+.1')($'#.'+.&+#.'%9-(<<%$-%'-(<3#.0

!"#$"%&'(

2/3% 450-1/00* %/05.(0 C%&=5A(* &EE/%-1$0

!""#

!""6

!""9 $%3($"%&'!#4%!'+.' )+.#.-+#4'0%#$'788698:

7"*,-..-&1

!":" $%3($"%&'!#4%!'+.' )+.#.-+#4'0%#$'788:9=8

!""*,-..-&1

!""#$

!":: $%3($"%&'!#4%!'+.' )+.#.-+#4'0%#$'78=89==

'%!"+<#"%&'!#4%!'+.')+.#.-+#4'0%#$'78==9=7

8*4-..-&1

#8"*,-..-&1 </!+-' <(C+%!'

1#<%! <(;+4%! #--%!!($+%!

!":;

!":!

-#<%$#! ,(<%'#334+#.-%!

3%$!(.#4'-#$% ,%#4",'-#$% "%4%C+!+(.!

;%#/"0'3$(&/-"!

4+)%!"04%'3$(&/-"!

)(("*%#$ !3($"!'*%#$

,-,/!?"

3AH5-0-(-&10

#'&+1+"#4'-(."%."'34#")($<'-(<3#.0

<'/*%/3=>*

#'&+1+"#4'-(."%."'34#")($<'-(<3#.0

E.-CB3%(*0&*E3%* 31=*4/2&1= 23 %%&'()*"+,&)-"./01&'"02+/31,1("3&%%&3,1("3,*&(3$1(121/&"4&'/$(53

3A)-/G/,/1(0

A)3BC3B@A&,

#';(440*((&'.%*!'!+"%

./(0452@A&, +.&+#>!'7.&'4#$1%!"'%9"#+4($' +.'%4%-"$(.+-!

-1=-3I0*.3%$/0(* 4&&B0/../% =='<+44+(.'"+"4%!'())%$%&

(&C*!"* '/40-(/0*-1*-1=-3 #4%2#'$#"+.1!

C",

#$%&0$*49'06#!1,

F4* "%23%* )"* 71&82* 94* 36#8"$3%* 7%942* ;"%* Z8&#I9%):* &)* G9?* <3%$* 5%15&98* )"* 1423%?)942* HYHU\ DVSHFW RI WKH FRPSDQ\ DQG WKH YDOXHV LW VWRRG E\ 7KLV ZDV WKH ȴUVW VWHS WDNHQ WR 1423%?)942*G(9)*Z8&#I9%)*G9?*988*97"1)*9?*94*"%'94&W9)&"4*942*("G*&)*;145)&"432=*T(3* 69&4*"7Q35)&<3*";*)(&?*G9?*)"*#9&4)*9*5"6#83)3*#&5)1%3*";*Z8&#I9%)*&4*23)9&8*&45812&4'*7")(* )(3*)94'&783*942*&4)94'&783*5"6#"434)?=*\4"G&4'*Z8&#I9%)*&4?&23*"1)*G9?*9*5%15&98*?)3#* &4*73'&44&4'*G"%I*"4*?&6#8&;$&4'*)(3&%*36#8"$634)*#%"53??= 7KLV ZDV GRQH WKURXJK D QXPEHU RI LQWHUDFWLRQV ZLWK GL΍HUHQW SHRSOH IURP WKH 5"6#94$*&4*)(3*;"%6*";*633)&4':*?1%<3$?:*3)5=*T(3*&4)3%95)&"4?*&4581232*633)&4'*G&)(* )(3*;"1423%?*";*Z8&#I9%):*V392*";*V1694*R3?"1%53:*034&"%*U949'3%?*;%"6*)(3*F4)3%498* !"6614&59)&"4* )396* 942* ?"63* ")(3%* 36#8"$33?=* T(&?* G9?* )(34* 5"6#&832* &4)"* 9* #%3?34)9)&"4*)(9)*5"4)9&432*9*23)9&832*"<3%<&3G*";*Z8&#I9%)b?*9%39*";*G"%I:*&)?*<9813?*942* )(3*G"%I*518)1%3*&)*#%"6")3?*;"%*;1%)(3%*5"453#)*71&82&4'=*T(&?*;"%632*)(3*795I'%"142* ;"%*71&82&4'*94*"<3%988*)(363*;"%*)(3*36#8"$3%*7%942=

HA !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

C"5

9'06#!1,40$4+84 5(!) +1)3#%#&*(%)"!$%(".

)32*&.))#%"'(%6-&0+'6

!5#1&3)-%7"#)

!"#"$%"&'"$"!()"*

!"#$%&'% ()*+,)-.

HH !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

)/0"**)1

&'*+')% 2".3)'1#

1-"!4%.&5-% &-()-

C"7 &5!,40-49'06#!1,E

C"; "%1(4?0-0%$4H4?!'2(-

Z8&#I9%)*G34)*8&<3*9?*94*"48&43*?("##&4'*G37?&)3*&4*,--P*G&)(*)(3*"7Q35)&<3*";*69I&4'* 7""I?* 39?&8$* 9<9&89783* )"* 94$"43* G("* (92* 94* 9553??* )"* )(3* F4)3%43)=* T"29$:* &)* 2398?* &4* <9%&"1?* 59)3'"%&3?* &45812&4'* 6"<&3?:* 61?&5:* '963?:* 6"7&83?:* 5963%9?:* 5"6#1)3%?:* (398)(59%3* 942* #3%?"498* #%"215)?:* ("63* 9##8&9453?* 942* 3835)%"4&5?:* ?)9)&"43%$:* #3%;163?:* )"$?:* 9##9%38?:* ?("3?* m* 942* ?)&88* 5"14)&4'j* Z8&#I9%)* &?* &4(3%34)8$* 97"1)* 7%39I&4'* #9%?=* X"%4* "1)* )(3* 6&42?* ";* )G"* $"14':* 2$496&5* &42&<&2198?:* Z8&#I9%)* (9?* '%"G4*3H#"434)&988$*&4*9*69))3%*";*9*;3G*$39%?=

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ȴUVW LV WKH RQO\ ZD\ WR DFKLHYH WUXH ?1553??=* T(3* 5"%3* #1%#"?3* (3%3* &?* )"* 69I3* ?("##&4'* 9* 238&'();18* 3H#3%&3453* ;"%* HYHU\ERG\ (YHU\ WLPH VRPHRQH QHHGV VRPHWKLQJ WKH\ FDQ R΍HU WKH\ VWULYH WR EH )(3*"7<&"1?*5("&53:*98G9$?=

H7 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

C"B

,5(4)099(1($,4)(6!1,+($,-

Z8&#I9%)*)"*)(3*"1)?&23*G"%82*&?*63%38$*94*"48&43*?("##&4'*?&)3=*X1)*)"*69I3*)(&?*(9##34* &)*(9?*9*<3%$*34)(1?&9?)&5*)396*";*#3"#83*;%"6*<9%&"1?*?#(3%3?*";*8&;3*G"%I&4'*)"'3)(3%* )"* 5%39)3* 9* ?&4'189%* 238&'();18* 3H#3%&3453* ;"%* &)?* 51?)"63%?=* a(9)* 6"?)* #3"#83* 9%3* 149G9%3*";*&?*)(&?*14&[13*?3)*1#*";*9*)396*)(9)*;145)&"4?*?39683??8$*)"*5%39)3*&44"<9)&<3* 942*?"63*#&"433%&4'*?("##&4'*3H#3%&3453?= a(9)* 69I3?* Z8&#I9%)* )(3* &2398* #8953* ;"%* 9* ?38;D2%&<34:* #9??&"49)3* &42&<&2198* &?* )(9)* (3%3:*$"1*'%"G*615(*6"%3*)(94*94$G(3%3*38?3:*$"1b%3*98G9$?*71&82&4'*51))&4'D32'3* )35(4"8"'&3?* 942* G(343<3%* $"1* 71&82* 9* ?"81)&"4:* $"1* ?33* )(3* &6#95)* &)* (9?:* 4")* Q1?)* &4)3%4988$:*71)*"4*)(3*G"%82*9%"142*$"1j Z8&#I9%)*(9?*]*69Q"%*23#9%)634)?*)(9)*G"%I*&4*5""%2&49)&"4*G&)(*395(*")(3%*)(9)*;"%6* WKH RSHUDWLRQV DW )OLSNDUW (DFK RI WKHVH GHSDUWPHQWV FDWHUV WR VSHFLȴF QHHGV DQG VWHSV &4*)(3*8&;35$83*";*9*#%"215)*9)*Z8&#I9%):*942*98?"*5"4?)94)8$*?)%&<3?*)"*5%39)3*&44"<9)&<3* VROXWLRQV WR PDNH WKHLU FRQWULEXWLRQV WR WKH RYHUDOO VHUYLFH ȴQHU

HK !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

C"C

,("5$%'%*84

>)* Z8&#I9%):* )(3$* &453??94)8$* 5%39)3* 942* 71&82* 43G* )35(4"8"'&3?* )(9)* 9%3* 9&632* 9)* &6#%"<&4'*)(3*8&<3?*";*)(3*51?)"63%?*7$*G"%I&4'*"4*43G*&44"<9)&"4?*)(9)*?"8<3*%398* G"%82*#%"7836?=*T(3$*2"4b)*738&3<3*&4*73&4'*)"82*G(9)*)"*2":*)(3$*?33*9*#%"7836*942* WKH\ ȴ[ LW 7KH SDVVLRQ IRU WHFKQRORJ\ GULYHV WKHP WR PDNH D VROLG LPSDFW DQG PDNH 8&;3*39?&3%*;"%*)(3&%*51?)"63%?=*T(&?*23#9%)634)*2%&<3?*&44"<9)&"4?*942*&?*6923*1#*";* ?"63*";*)(3*73?)*6&42?*&4*)(3*5"14)%$*)(9)*738&3<3*)(3$*594*69I3*94*&6#95)*7$*71&82&4'* 43G3%*942*73))3%*)35(4"8"'&3?=

C"D

1(,!0'4 7KH UHWDLO UHDOP FDQ EH JUXHVRPH EXW UHZDUGLQJ 0DQ\ ZDON DQG IDOO RQ WKH EDWWOHȴHOG DQG RQO\ D IHZ PDNH LW DOO WKH ZD\ ΖQ WKH ΖQGLDQ H FRPPHUFH GRPDLQ \RX ZLOO ȴQG Z8&#I9%)*%&'()*9)*)(3*)"#=*U33)&4'*)(3*?3)*?)9429%2?*6&'()*73*(9%2:*?3))&4'*$"1%*"G4:* ("G3<3%:* &?* )(3* )%13* #&449583* ";* ?1553??=* >)* Z8&#I9%)* )(3* 9&6* &?* )"* 69I3* ?("##&4'* 238&'();18*;"%*97?"81)38$*3<3%$"43*942*)(3$*738&3<3*&4*2"&4'*94$)(&4'*)"*8&<3*1#*)"*)(9)* DLP :LWK QHZ SURGXFWV DQG FDWHJRULHV FRQVWDQWO\ EHLQJ DGGHG WR WKHLU R΍HULQJ WKH\ 9%3*794'*&4*)(3*6&2283*";*)(3*%3)9&8*?)"%6j*T(3*%3)9&8*)396*&?*5"6#%&?32*";*)(3*?69%)3?)* 6&42?*)(9)*?)%9)3'&W3*942*71&82*?5(363?*)"*I33#*)(3&%*51?)"63%?*238&'()32=

HD

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

C"E

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

C"!F

"%16%1!,(492$",0%$F4*)"29$b?*G"%82*$"1*3&)(3%*'3)*G&)(*)(3*)&63?*"%*5%39)3*$"1%*"G4*#9)(*;"%*")(3%?*)"* ;"88"G=*>)*Z8&#I9%):*)(3*'%"142D7%39I&4'*G"%I*43<3%*?)"#?=*T(3*?(33%*41673%*";*5(94'3?* 942*92<9453634)?*)(9)*Z8&#I9%)*(9?*95(&3<32*&?*988*73591?3*";*)(3*#3"#83*G("*?)%&<3* (9%2*942*G"%I*;"%*("1%?*Q1?)*)"*69I3*?1%3*3<3%$)(&4'*&?*G(3%3*&)*?("182*73=*!(""?&4'*9* 232&59)32*)396*";*?1#3%*95(&3<3%?*)"*69I3*9*(1'3*49)&"4DG&23*58&34)383*(9##$*&?*43<3%* 94*39?$*)9?I=*

HJ ff*AFBY_U>*BR_nJ!T*A_!kUJET>TF_E*ff*E>TF_E>Y*FE0TFTkTJ*_Z*AJ0F@E

.M 9'06#!1,4#0$)4 %946(%6'( D"!##:0*/@$2(#@*)+#&:#/.&/0.

D",##-*2*)6#/-*0&9&/-8#$(#:0*/@$2( D"5##.1/0&8..#9'2<.89 D"7##*):.2.)4.9#$)+#.1/0&8..#)..+9

D"!

9'06#!1,4#0$)4%946(%6'(

Z8&#I9%)*<3%$*I3348$*634)&"432*)(3*I&42*";*#3"#83*)(3$*8&I3*)"*G"%I*G&)(=*T(&?*(38#32*1?* GHȴQH WKH WDUJHW JURXS IRU WKH FROODWHUDOV ZH ZRXOG EH FUHDWLQJ IRU WKHP Ζ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k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

7/ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

D", 5010$*4650'%-%6584!,49'06#!1,

7KH ZRUOG DW )OLSNDUW LV D OHYHO SOD\LQJ È´HOG ZLWK SOHQW\ RI VHOI GULYHQ KLJK SHUIRUPHUV T(3*79%*%&?3?*3<3%$*29$=*T(3$*738&3<3*94$"43*594*73*9*?1#3%?)9%*9)*Z8&#I9%):*%3'9%283??* RI WHQXUH JHQGHU RU HGXFDWLRQDO TXDOLÈ´FDWLRQ _##"%)14&)$*X9?32*_4*U3%&) 4XDOLÈ´FDWLRQ LV QRW D EDUULHU WR EH D SDUW RI WKH )OLSNDUW IDPLO\ 7KH\ È´UPO\ EHOLHYH WKDW D SHUVRQÈ&#x2021;V VNLOO DQG DELOLWLHV FDQQRW EH GHÈ´QHG RQO\ E\ DQ XQLYHUVLW\ FHUWLÈ´FDWH )OLSNDUW 98?"*738&3<3?*3<3%$"43*(9?*)(3*?963:*3[198*?(")*)"*69I3*&)*7&'*942*69I3*94*&6#95)* &%%3?#35)&<3*";*)(3&%*'3423%=*T(3*G"%I*$"1*2"*?#39I?*G9$*6"%3*)(94*)(3*#"?&)&"4*$"1* ("82=*>)*Z8&#I9%):*(&3%9%5($*2"3?*4")*'3)*&4*)(3*G9$*";*71&82&4'*9*7%&88&94)*&239*&4)"*9*'%39)* ?"81)&"4=

7.

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

D"5

(+6'%8((4-21?(8-

>* 41673%* ";* ?1%<3$?* G3%3* 5"4215)32* G&)(* )(3* 36#8"$33?* ";* Z8&#I9%)* )"* 5"6#83)38$* 1423%?)942*Z8&#I9%)*9?*94*36#8"$3%*"%'94&?9)&"4=**a3*5("?3*)G"*)$#&598*?96#83*?3)?*";* 36#8"$33?*)"*5"4215)*)(3*?1%<3$K $ VDPSOH VHW RI ROG HPSOR\HHV ZKR KDYH EHHQ ZLWK )OLSNDUW IRU DERXW D \HDU RU PRUH DQG DUH ZHOO DFTXDLQWHG ZLWK WKH FXOWXUH DQG RSHUDWLRQV RI WKH ȴUP $ VDPSOH VHW RI QHZ MRLQHHV IRU ZKRP WKH RQ ERDUGLQJ H[SHULHQFH LV IUHVK LQ WKHLU 6&42?=

BC

$(&47%0$((-

How did you get to know about the openings at Flipkart ?

Online Friend/Colleague/Acquaintance

1(-6%$-(-

21 months

Month

2yrs 5months

1 year 9 months

2 years 8 months

months

2 years

months

2 years 1 month

7; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

3.5 Years

26 months 2

1.5 years 11 months

2.5 years 8 months

63%

1

4%

Other

4

15%

2 yrs 5mnths

7 months

2 Years

19%

Advertisement

How long have you been working at Flipkart?

1 year 2 yr 7 months 18 months 1 yr and 4 months months

5 17

18

3 year 1

16 Months

1 year and 3

1 year and 4 months 1.7 yrs

20

Do you see a major change in your workplace today, when compared to the time you joined?

Yes 25 93% No

2

How would you rate your understanding of Flipkart's business ?

1

0

2

2

9%

3

8

35%

4

12

52%

5

1

4%

0%

7%

0%

How would you rate your first day at Flipkart?

1

1

4%

2

1

4%

1

0

3

3

13%

2

2

9%

4

15

65%

3

8

35%

5

3

13%

4

11

48%

5

2

9%

During your first week at Flipkart, how welcoming were your co-workers?

1 0 0% 2

7A !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

How would you rate the facilities provided by Flipkart?

1

How would you rate the infrastructure in your Flipkart office?

1

0

0%

4%

2

1

4%

3

1

4%

3

9

39%

4

14

61%

4

12

52%

5

7

30%

5

1

4%

Are you happy, working at Flipkart?

Yes

23

100%

No

0

0%

How would you rate the growth opportunities at Flipkart?

1

0

0%

2

1

4%

3 1 4 2 5 How would you rate the growth opportunities at Flipkart? 3

7 0 12 1 3 7

30% 0% 52% 4% 13% 30%

4

112

0 0% 52%

5

23

1 4% 13%

breaks should be itofis20 10 mins,that is not in the package.

They insist that paidmins out oninstead individualof performance but actual

3

7

30%

payouts are different. should bewe induction to help employees to make aware break takesThere 4 mins and should also have some activities

4

12

52%

about different department and their function.

5

3

13%

asked to report at a time, the onboarding HR should also follow it. If we are setting up

How would you rate the growth opportunities at Flipkart?

Flipkart Employee Feedback Form - New Joinees - Google Drive

days, should play some games or go out for lunch with the team and make hi

What changes would you like to see in Flipkart's Employee on boarding process? feel comfortable. Welcome him/her to the flipkart family.. :) na Recruiters need to be careful on commitments pertaining to variable component

necessary

Are you aware of your specific role at Flipkart?

sometime so tha

- A manual on org structure along with which function does what

an induction plan for the employee and there are some changes the employee should 78%

help - Also arather consolidated policies at one be informed in advance than waiting manual for a whileon andall later get to know it wasplace

0

0%

5 18

22% 78%

changed.empowerment.

My joining got delayed by 4 Structured, days as I missed to send the softcopy onethe More expectation settingof at

No

0

0%

Partly

5

22%

Yes

18

No Partly Yes

onboarding/induction, clarity around processes involved in specific businesse

Otherwise, overall good onboarding experience. before joining we can avoid such a issue.

Apart from this it was very pleasant

18

78%

No

0

0%

Partly

5

22%

Better communication.

experience.

There isprogram not trainingwhich process There is no formal into structure for induction provides infight business

processess and tech s

onboarding. Please introduce a structured onboarding process to reduce ramp-up time.

would be useful.

Employee handbook/FAQ's would be useful to answer some basic questions

for new joinees.

Something can be done to make the interview process more fun...

Not just question.answer rounds... but maybe some games etc can be included to 23

100%

No

0

0%

Yes

23

100%

No

0

0%

Flipkart Employee Feedback Form - New Joinees - Google Drive

lighten the mood.

Less paper work

.

none.

Shld have a formal induction

process from the support departments like HR , Finance, IT regarding the process Number ofalldaily responses being followed in Flipkart

Below ar the improvement pointers: a) Detailed information

on the employee banding existing in the organization b) Various links of HR policies 01/05/13 9:21 AM

and contact persons in each department c) Proper introduction and planned

Would you recommend others to join Flipkart ?

Are you happy, working at Flipkart?

Yes

Yes

23

23

https://docs.google.com/a/rezonant.net/forms/d/1S9PA1Qp8isdYaziRe1R7_qBbJy48X1tGSXGhqjlSpzQ/viewanalytics

No No 0

100%

100%

0 0% 0%

https://docs.google.com/a/rezonant.net/forms/d/1S9PA1Qp8isdYaziRe1R7_qBbJy48X1tGSXGhqjlSpzQ/viewanalytics

onboarding flow.

1. The new joinees should be introduced to their respective HR

business partners on the day of joining. 2. Flipkart goodies shall be provided.

Page 3 of 5

employee training

On boarding process looks good as it is.

New

1) I'm not sure if it is

still there.. but the culture of sending flowers and a card to the newly hired (after

Page 3 of 5

accepting offer) is what makes the candidate feel special. 2) Assigning a buddy right from the day he accepts the offer is another good thing to make the candidate feel comfortable. Buddy should not just talk about work, but also talk about personal stuff https://docs.google.com/a/rezonant.net/forms/d/1S9PA1Qp8isdYaziRe1R7_qBbJy48X1tGSXGhqjlSpzQ/viewanalytics

7H !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30 What changes would you like to see in Flipkart's Employee on boarding

start of the

about it only after I reached Bangalore. If these sort of things are conveyed a week

Yes

Yes

Good Food, M

of my doc though I had the hardcopy at the proposed date of joining. I came to know

Would you recommend others to join Flipkart ?

Would you recommend others to join Flipkart ?

at all enough as on

It would be helpful if the employee is will be more interesting as all day long we take calls some refreshments are

Are you aware of your specific role at Flipkart?

Are you aware of your specific role at Flipkart?

in our process b

process? na Recruiters need to be careful on commitments pertaining to variable component

his own experience etc 3) Peers/co-workers should interact warmly with the new hires Page 3 of 5

during his initial few days, and not just alienate and watch him unblock himself :) (he is in a totally new environment, interact with him on a personal front) 4) During his initial

BL

%')4(+6'%8((How did you get to know about the openings at Flipkart ?

Online Friend/Colleague/Acquaintance

5

19%

17

63%

Advertisement

1

4%

Other

4

15%

1(-6%$-(-

How long have you been working at Flipkart?

1 year 2 yr 7 months 18 months 1 yr and 4 months months

21 months

Month

2yrs 5months

1 year 9 months

3.5 Years

2 years 8 months

months

2 years

26 months

months

2 years 1 month

2

1.5 years 11 months

2 yrs 5mnths

7 months

2.5 years 2 Years 8 months

18

3 year 1

16 Months

1 year and 3

1 year and 4 months

20

1.7 yrs

Do you see a major change in your workplace today, when compared to the time you joined?

Yes 25 93% No

2

7%

1

1

How would you rate the quality of changes in your workplace?

77 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

4%

2

5

19%

3

10

37%

4

10

37%

5

1

4%

4

10

37%

5

1

4%

1

1

2 1 3 2 4 3 51 4 2 5 3

2 1 7 2 13 7 41 13 2 4 7

7% 4% 26% 7% 48% 26% 15% 4% 48% 7% 15% 26%

4

13

48%

great if we could have a complete onboarding manual which has all the details from

5

4

15%

where can I get my card from to on benfits and reimbursement forms.etc.)

A complete Flipkart andaccess its history - PPT policies (Health Insurance - Team

How would you rate the growth opportunities at Flipkart?

How would you rate the growth opportunities at Flipkart?

How would you rate the growth opportunities at Flipkart?

4% Flipkart Employee Feedback Form - Old Employees - Google Drive

01/05/13 9:36 AM

What changes would you like to see in Flipkart's employee on boarding process ?

A more uniform and consistent process so that irrespective of which position of team you are being interviewed / considered for , everyone goes through the same WOW experience . The entire process should be sustainable yet create a lasting memory in Flipkart Employee - Old Employees Google Drive the Feedback minds ofForm all candidates and- joinees History

and journey of Flipkart

It would be

Q n A manual.

More fun in welcoming newlunch joinees - deco the the new employee - Welcome with team onwork firststation day - etc.

Pre Personal Thought : Promotions should be based on performance wise

email ids etc

How would you rate the work culture at Flipkart?

How would you rate the work culture at Flipkart?

1

0

0%

2 13

1 0 6

4% 0% 22%

24 35 1 4 2 5 3

1 13 6 7 0 13 1 7 6

4% 48% 22% 26% 0% 48% 4% 26% 22%

4

13

48%

5

7

26%

one thing could be a list of useful links that

checklist to new joinee, getsalready, dragged into work he can go to - Kashyap has put upone one easily such page though.

Wesoon needafter a

joining, 3. More

chocolates! teamswithin haveus. grown!

More interviews for SET better on-boarding process Right now we challenging do not have process defined for the same.

Employee's first day impression is very important.

HR sends in a think the on-boarding team is doing a great job. Today Improvements

access cards on the same day would be great.

I was made to wait for a long time

not know what kind of access an employee need. Actually we should have an On-

before someone met me on the day of joining. New role explanation took 15 days.

boarding tool where , hiring manager will have to login to the tool raise the requests

Nowwhat things are changing. like access, all mailing lists he should be part of etc........ Once employee is onboarded there should be induction conducted on the same day. Actaully joining should happen only in one day in a week. Not every day.

- better orientation of new

employees to the system & culture - a "hand book" that will help them with all important they need to know to settle down well in FK - help them know Number information of daily responses 1. There should be

Yes

24

86%

3. Team outing every quater - Team bonding 4. Management meet with L1 -

No

4

14%

Transparency 5. Skip level with HR - To fix issues

Yes

24

86%

No

4

14%

24

86%

Would you recommend others to join Flipkart ?

Yes

No 4 14% https://docs.google.com/a/rezonant.net/forms/d/1Y7KOmw3i877AwdHMTNQLYG_fWv7SidFMYu0g5HDYW5Y/viewanalytics

walkthrough etc of Warehouses / CS in action etc .. bring forth the enormity of scale at which we scale - Introduce fun element; on the floor ice breakers - Offline reading materials - so that new joinees go deeper if interested at their own pace to understand Page 2 of 4

7K !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

things like getting an employee id card,

laptop etc should be taken care of by Flipkart IT/Support things like home drop should be there

https://docs.google.com/a/rezonant.net/forms/d/1Y7KOmw3i877AwdHMTNQLYG_fWv7SidFMYu0g5HDYW5Y/viewanalytics

- Compress it to include

highlights of teams (tech aspects) .. quote examples, illustrations etc - Have video

about business, tech stacks, teams etc No more balloons nowadays.

of 4 'event'Page for 2lateral

Don't make on-boarding a 'process' or an

joinings, try to have it as seamless/smooth as possible (couple of

pranks are perfectly fine)

We are already doing a pretty good job in the on-boarding

process. No changes required :)

I

getting badges and

lot of Fun activities - stress buster 2. RnR should have on monthly basis - Motivation

Would you recommend others to join Flipkart ?

positions.

request to IT and other team, but when it comes to acces and other things HR does

who's who in Flipkart and the go to person for various activities

Would you recommend others to join Flipkart ?

configured machine,

We need to

1. It should be fast. Couple of signatures and be done. 2. Give a

work a lot on the way we do business.

How would you rate the work culture at Flipkart?

welcome for

- Induction - Detailed Explanation on the policies

D"7

0$9(1($"(-4!$)4(+6'%8((4$(()-

Z%"6*)(3*%3?#"4?3?*%353&<32*21%&4'*)(3*?1%<3$?*&)*G9?*4")32*)(9)*)(3*Z8&#I9%)*"4* 7"9%2&4'*3H#3%&3453*5"4)9&432*9*8")*";*?5"#3*;"%*&6#%"<3634)=*T(3*34'9'3634)* #%"'%9663*433232*)"*73*6923*5"4?&?)34)*95%"??*)(3*23#9%)634)?=*>*8")*";*2&?#9%&)$* H[LVWHG LQ WKH ZHOFRPLQJ H[SHULHQFH IRU WKH GL΍HUHQW GHSDUWPHQWV 6RPH RI WKH 23?5%&#)&<3*[13?)&"4?*'9<3*94*&4*23#)(*&4?&'()*&4)"*G(9)*)(3*36#8"$33?*)("1'()* 5"182*73*2"43*)"*&6#%"<3*)(3*"4*7"9%2&4'*#%"53??=*T(&?*98?"*(38#32*&4*&234)&;$&4'*)(3* 895149?*&4*)(3*3H&?)&4'*#%"53??=

?@+*#A+%2&8*("&#&A76%3+&1*%,%3+#+6(3&"#2%&+(&B761>#*+&26,A),,63$&+0%&%"17(-%%&3%%2,

7D

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

.N ,5(4(+6'%8(14 31!$)4,5(+( E"!#(-.#.1/0&8.2#%2$)+#(-.1.

E",#/&9*(*&)*)6#(-.1.9 E"5#2.J'*2.1.)(9#:2&1#/&9*(*&)*)6 E"7##(-.#'1%2.00$#&:#*+.$9 E";##*+.$#=.%#!G#(-*)@#*(?#%'*0+#*(K E"B#*+.$#=.%#,#G#$=.9&1.#.<.28+$89 E"C##*+.$#=.%#5#G#%*6#.<.28+$89

E"!

,5(4(+6'%8(1431!$)4,5(+(

>;)3%*(9<&4'*21'*233#*&4)"*)(3*G"%82*";*Z8&#I9%):*)(3*43H)*?)3#*G9?*)"*#1)*)"'3)(3%* 9*;3G*"#)&"4?*";*)(363?*)(9)*5"182*73*1?32*)"*79?3*)(3*34)&%3*7%942&4'*"4=*!"6&4'* 1#*G&)(*)(3*)(363?*&4<"8<32*9*8")*";*7%9&4?)"%6&4'*942*2&?51??&"4?:*79?32*"4*"1%* 5"8835)&<3*1423%?)942&4'*";*)(3*518)1%3:*9%39*";*G"%I*942*%35%1&)634)*#%"53??*";* Z8&#I9%)=

E",

6%-0,0%$0$*4,5(+(-

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È´QLQJ WKH GHVLJQ SURFHVV

7I

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

C+)2-63$&D#+0%E&F#%7%-G,&H((><&=0#+&6,&H*#3263$I

K/ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

K.

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

K; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

E"5

1(O201(+($,-491%+4 6%-0,0%$0$*

T(3%3*G3%3*9*;3G*"7Q35)&<3?*)"*73*63)*G(&83*5(""?&4'*9*53%)9&4*)(363*)(9)*G"182*73* )(3*3??3453*";*)(3*36#8"$3%*7%942&4'=*T(3*;"88"G&4'*&?*9*8&?)&4'*";*)(3*3H#35)9)&"4?* ;%"6*)(3*)(363:*G(&5(*98?"*;"%632*)(3*79?&?*;"%*9498$?&4'*)(3*<9%&"1?*"#)&"4?*942* ȴQDOLVLQJ RQ RQH WKHPH T(3*)(363*G"182*23#&5)*)(3*G"%I*518)1%3*9)*Z8&#I9%)*9?*9*$"14':*;9?)D#9532*942* <9813?*2%&<34*"%'94&?9)&"4*G&)(*9*2"*"%*2&3*9))&)123=* F)*G"182*98?"*5"4<3$*)(3*)$#3*";*G"%I*G&)(*4163%"1?*"##"%)14&)&3?*;"%*)(3* 23?&%32*5942&29)3?=* 7KH WKHPH ZRXOG DOVR UHȵHFW WKH )OLSNDUW DWWLWXGH DV D IXQ FRRO SODFH WR ZRUN LQ G&)(*9*7%&88&94)*)396*";*#3"#83=

Z>0T*B>!JA S>YkJ*ARFSJE

!__Y ZkE

nF0T

XR>EA* UJ00>@J

o_kE@

!,,0,2)( &%1#4 "2',21(

+(--!*(

31!$)4 6%-0,0%$0$*

TJ>Ua_R\

@R_aFE@

A_*_R*AFJ

!_RJ*!_E!JBT %66%1,2$0,8 -,%18 E>RR>TFSJ !_EEJ!TF_E0

KA !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

UJT>BV_R

!V>YYJE@FE@ 3?192!<0=

!6:>9 !=994

B>00F_E>TJ

XF@ FEE_S>TF_E

31!$)4 6%-0,0%$0$*4 ,5(+(

!RJ>TFSJ

>UXFTF_k0

0E=:6)

AoE>UF!

3==32)510)09!

G50>4 BR_XYJU* 0_YSFE@ J%-E(*2&;*#63,+(*"&8(*&;)67263$&+0%&;*#32&1(,6+6(363$&+0%"%

KH !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

823?)<

RJ0B_E0FXFYFTo

YJ>REFE@

E"7

,5(42+31(''!4%940)(!-

T(%"1'(*9*#%"53??*";*7%9&4?)"%6&4'*988*)(3*&239?*;"%*)(3*)(363*G3%3*#1)*"4*)(3* )9783=*T(&?*89%'3*5"6#8&59)32*#&5)1%3*G9?*6923*?&6#83%*7$*"%'94&?&4'*)(3*&239?*&4)"* <9%&"1?*59)3'"%&3?=*T(3?3*G3%3*;1%)(3%*G39<32*942*?)%15)1%32*&4)"*/*&239*G37?* 5"4?&23%&4'*?3<3%98*9?#35)?*)"*5%39)3*9*%"1'(*"1)8&43*";*)(3*&239=*T(3?3*?(9#32*&4)"*/* PDLQ WKHPHV )OLSNDUW FRXOG XVH WR EDVH WKHLU HPSOR\HU EUDQGLQJ ZKLFK UHȵHFWHG WKH 1423%?)942&4'*";*Z8&#I9%)*9?*94*36#8"$3%*"%'94&?9)&"4*942*&)?*<9%&"1?*9?#35)?=

0!>Y>XYJ

B>00F_E 0BJJA FEE_S>TF_E

+(,!65%1

320')

!RJ>TFSFTo

BR_XYJU*0_YSFE@ BR_>!TFSJ

JSJRoA>o

-%'?( 0+6!",

FUBYJUJET FEFTF>TJ :,,6$363$&>%-E(*2,&+(&A0(,%3&>%-E(*2,&8(*&;)67263$&+0%"%,

K7 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

FYYk0TR>TFSJ AJ0!RFX>XYJ

6%-0,0%$0$*4 ,5(+(

0!>YJ

@R_aTV

RJY>TJA*T_*TVJ* !_RJ*Xk0FEJ00

BJR0F0TJE!J B>00F_E _BB_RTkETo

E"; 0)(!4&(34/P4 ,50$#40,E4320')40,Q

7KLV UHČľHFWV WKH FRUH RI )OLSNDUWČ&#x2021;V ZRUN FXOWXUH Č&#x201A; D JURXS RI SDVVLRQDWH VHOI GULYHQ &42&<&2198?*G("*4")*"48$*(9<3*'%39)*&239?*71)*3H351)3*)(36*9?*G388=*T(&?*98?"* 5"4<3$32*)(9)*Z8&#I9%)*&?*;"%*#3"#83*G("*9%3*4")*"48$*)(&4I3%?*71)*2"3%?*9?*G388=*T(&?* )(363*;"51?32*"4*)(3*71&823%?*9)*Z8&#I9%)=

0JYZDARFSJE B>00F_E

JE>XYJA

RJZYJ!T

@RJ>T*FAJ>0 ,50$#40,E4 320')40,Q JpJ!kTJ TVFE\JR0* >0*aJYY*>0* A_JR0 0JYZ*FEFTF>TFSJ

KK !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

How it scales to FKâ&#x20AC;&#x2122;s departments Thinks

Builds

For Technology

Of a solution to solve a problem on the Flipkart website.

The solution by using skills, expertise and passion.

For Retail

Of a more efficient way of representing the products in her/his category.

The change and measures its effects.

For SCM

Of a method to speed up the delivery of products.

The change and experiences the impact of the change.

?@+*#A+%2&8*("&#&A76%3+&1*%,%3+#+6(3&26,A),,63$&+0%&%"17(-%*&;*#32&+0%"%,

E"B

0)(!4&(34BP4 !&(-%+(4(?(18)!8-

7KLV UHČľHFWV WKH VFRSH RI HYHU\GD\ DW )OLSNDUW Î&#x2013;W FRQYH\V WKDW )OLSNDUW GRHV VHULRXV 5""8*G"%I*)(9)*(9?*94*9G3?"63*&6#95)*"4*#3"#83*3<3%$29$=*F)*98?"*5"4<3$?*)(9)* #3"#83*(3%3*(9<3*'%39)*3<3%$29$?=*!"4?&23%&4'*)(3*'%"G)(*"##"%)14&)&3?*942*)(3* GLUHFW LPSDFW WKDW HDFK LQGLYLGXDO KDV HYHU\GD\ DW )OLSNDUW LV LQFUHGLEO\ VLJQLČ´FDQW 7KLV WKHPH LV DERXW D JUHDW HYHU\GD\ DW ZRUN WKDW HYHU\GD\ PDNHV D GLÎ?HUHQFH DQG WKDW 3<3%$29$*5"14)?=

JSJRoA>o Z_R*BJ_BYJ:* Xo*BJ_BYJ

FUB>!T RJZYJ!T

How it scales to FKâ&#x20AC;&#x2122;s departments 0JRF_k0 !&(-%+(4 (?(18)!8!__Y BR_>!TFSJ >*@RJ>T*A>o*>T*a_R\

KD !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

Awesome Everydays For Technology

Because everyday brings another opportunity to create awesome code and features

For Retail

Because everyday brings a number of opportunities to make the category awesome, or introduce categories that make consumersâ&#x20AC;&#x2122; days awesome.

For SCM

Because everyday brings more opportunities to better the efficiency of Flipkartâ&#x20AC;&#x2122;s storage and delivery facilities.

?@+*#A+%2&8*("&#&A76%3+&1*%,%3+#+6(3&26,A),,63$&+0%&%"17(-%*&;*#32&+0%"%,

E"C

0)(!4&(34CP4 30*4(?(18)!8-

T(&?*)98I?*97"1)*)(3*<9?)*%94'3*";*Z8&#I9%)b?*"#3%9)&"4?*942*("G*3<3%$29$b?*G"%I* LPSDFWV LW (YHU\GD\ȇV ZRUN LV VLJQLȴFDQW DQG LPSDFWV WKH JURZWK RI WKH RUJDQLVDWLRQ 2&%35)8$=*F)*5"4<3$?*)(9)*Z8&#I9%)*&?*;"%*#3"#83*G("*)(&4I*7&'*942*G"%I*(9%2=

JSJRoA>o

Option 3

Big Everydays.

TVFE\*XF@

30*4 (?(18)!8-

0!>YJ RJZYJ!T

S>0T*R>E@J*_Z* _BJR>TF_E0 FU>B>!T >UXFTF_k0

>*@RJ>T*A>o*>T*a_R\

How it scales to FK’s departments Big Everydays For Technology

Because everyday brings another big opportunity to develop Flipkart further and see its impact.

For Retail

Because everyday brings a number of big opportunities to increase Flipkart’s offering.

For SCM

Because everyday brings more opportunities to better the efficiency of Flipkarts storage and delivery facilities.

?@+*#A+%2&8*("&#&A76%3+&1*%,%3+#+6(3&26,A),,63$&+0%&%"17(-%*&;*#32&+0%"%,

KJ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

/. ?0-2!'-49%14&%1)!F"!##<*9'$09#:&2#=&2+9 !F",##=-$(#9-&'0+#(-.#(-.1.#+&? !F"5##+.<.0&/*)6#$#<*9'$0#9(80. !F"7##(-.#9(&2. !F";##(-.#4*(8#&:#%'*0+.29 !F"B##(-.#=&20+#&:#:0*/@$2( !F"C##(-.#/*(4-

!F"!

?0-2!'-49%14&%1)-

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È´UVW VQHDN SHHN LQWR KRZ WKLQJV ZRXOG È&#x2020;ORRNÈ&#x2021; 7KH ZHEVLWH ZDV WKH È´UVW PDMRU FROODWHUDO DQG DOVR DQ LPSRUWDQW GHOLYHUDEOH RI WKLV SURMHFW IRU ZKLFK D VHW RI <&?198?*G"182*73*23<38"#32=

&5!,4-5%2')4,5(4,5(+(4)%E

'HYHORSLQJ WKH YLVXDO WKHPHV ZDV WKH VWHS WR È´JXUH RXW D JUDSKLF WUHDWPHQW IRU WKH <9%&"1?*9##8&59)&"4?*?)9%)&4'*G&)(*)(3*59%33%*?&)3*942*)(34*6"<&4'*"4)"*")(3%*69)3%&98=* >)*)(&?*?)9'3*&)*6923*?34?3*)"*8&?)*2"G4*G(9)*)(3*<&?198*)(363*?("182*2"=*T(3%3*G3%3* 53%)9&4*;95)"%?*"4*)(3*8&?)*9?*23?5%&732*738"G*)(9)*G"182*73*5"66"4*)"*988*)(3*<&?198* )(363?=

!F",

1('(?!$"(

V"G* 2"3?* )(3* <&?198* )%39)634)* %389)3* )"* )(3* 5"%3* 71?&43??* ";* Z8&#I9%)*"%*)"*94$*";*&)?*<9813?*942* '"98?=

)(-"103!30'0,8

T(3* ?35%3)* 73(&42* 694$* ";* ?1553??;18* 23?&'4?* &?* &)?* 49)1%3* ";* 73&4'* 23?5%&732* 7$* #3"#83* "453* )(3$* (9<3* ?334* "%* 3H#3%&34532* &)=* T(&?* #9%)&5189%* 9?#35)* ";* 9* 23?&'4* 59)3%?* )"* )(3* )94'&783* )(&4'?* #3"#83* %389)3* )"* &4* )(3* 3H#3%&3453=* T(3?3* )94'&783* 9?#35)?* 942* )(3* 5"4435)&"4?* #3"#83* 69I3* G&)(* )(36* &?* G(9)* 69I3?* )(36*%363673%*&)*9?*94*3H#3%&3453:*(3453*69I&4'*&)* #"#189%=

D/ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

2$0O2(

F)* &?* 9* 5(98834'3* )"* 5%39)3* ?"63)(&4'* )(9)* 2"3?* 4")* 5"4;"%6* )"* 94* 3H&?)&4'* )36#89)3=* V9<&4'*'"43*)(%"1'(*)(3*)%342?*;"88"G32*&4* 36#8"$3%*7%942&4':*G3*G94)32*)"*73*9*8&))83* 3H#3%&634)98* 942* )%$* 942* 5%39)3* 94* 14&[13* 36#8"$634)*3H#3%&3453*;"%*Z8&#I9%)=

!F"5 )(?('%60$*4!4?0-2!'4-,8'(

T(3*<&?198*)(363?*G3%3*23<38"#32*79?32*"4*)(3*1423%?)942&4'*";*)(3*"<3%988*#"?&)&"4&4'* )(363?*23<38"#32*&4*)(3*39%8&3%*#(9?3*";*)(3*#%"Q35)=*T(3*<&?198*)(363?*G3%3*6394)*)"* 5"4<3$*)(3*36#8"$3%*7%942*63??9'3*";*)(3*#"?&)&"4&4'*)(363*&)*G9?*79?32*"4*)(%"1'(* WKH GL΍HUHQW REMHFWV DQG YLVXDO VW\OHV LW XVHG $W WKLV VWDJH WKH YLVXDO WKHPHV ZHUH ȴUVW FRQFHSWXDOLVHG DQG WKHQ GHWDLOHG RXW ΖW GHȴQLWHO\ UHTXLUHG D ORW RI YLVXDO UHȴQHPHQW ZKLFK ZDV HYHQ LQ WKH FDVH RI WKH FRQWHQW 395(*";*)(36*1?32=*X1)*&4*"%23%*)"*5(""?3*"43*"<3%*94")(3%*942*5"4<3$*)(3*&239*)"*)(3* 58&34):*?"63*23?&'4?*G3%3*5%39)32*)"*'&<3*94*&239*";*("G*)(3*&239*5"182*73*23<38"#32* DQG VFDOHG WR WKH GL΍HUHQW DVSHFWV RI )OLSNDUW VWDUWLQJ ZLWK WKH FDUHHU ZHEVLWH )RU HDFK RI WKH WKHPHV D WDQJLEOH LGHD PHWDSKRU ZDV LGHQWLȴHG WKDW FRXOG EH XVHG )"*5"4<3$*)(3*)(363=**>*5"4435)&"4*)"*?"63)(&4'*)94'&783*)(9)*5"182*%389)3*)"*988*)(3* 9?#35)?*";*)(3*7%942*G9?*5("?34*)"*69I3*)(3*G("83*?)"%$*6"%3*&4)3%3?)&4'*942*39?$*)"* 97?"%7=*>??"5&9)&"4?*)(9)*9%3*58"?38$*9))95(32*)"*Z8&#I9%)*6923*73))3%*5("&53?*9?*#3"#83* G"182*39?&8$*5"4435)*)(3*2")?*942*)(9)*G"182*69I3*)(3*7%942*6"%3*636"%9783=

?0-2!'4+(,!65%144

6%-0,0%$0$*4,5(+(

1('(?!$"(

>4$*";*)(3*)(%33*)(363?

R389)3?*)"*)(3*5"%3*71?&43??*";*Z8&#I9%)

T(3*!&)$*";*X1&823%?*

T(&4I*&)i*X1&82*&)=

F881?)%9)3?*)(3*#9??&"49)3*942*#%"95)&<3*518)1%3*";*Z8&#I9%)

T(3*a"%82*";*Z8&#I9%)

>G3?"63*J<3%$29$?*942*X&'*J<3%$29$?=

F881?)%9)3?*)(3*G"%82*";*Z8&#I9%)

T(3*0)"%3

T(3*97"<3*&239?*G3%3*?I3)5(32*"1)*942*395(*";*)(36*(92*34"1'(*?5"#3*)"*73* VFDOHG WR WKH GL΍HUHQW FROODWHUDOV WKDW QHHGHG WR EH GHYHORSHG IRU WKH FOLHQW (DFK RI WKHVH LGHDV QHHGHG WR EH GHWDLOHG D OLWWOH DQG VNHWFKHG RXW WR ȴJXUH RXW WKH GL΍HUHQW #"??&7&8&)&3?*G&)(&4*)(3*)(363=*0I3)5(&4'*)(36*"1)*(38#32*1?*'9&4*94*&239*";*G(9)* )(&4'?*G"182*8""I*8&I3=*

D.

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!F"7

,5(4-,%1(

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΍HUHQW VHFWLRQV ";*)(3*G37?&)3*9?*G388*9?*)(3*")(3%*9##8&59)&"4?= T(&?*<&?198*63)9#("%*9?*58"?38$*5"4435)32*)"*)(3*<3%$*71?&43??*Z8&#I9%)*2398)*G&)(*942* KHQFH D QXPEHU RI VPDOOHU WKLQJV FRXOG EH XVHG WR YLVXDOL]H WKH GL΍HUHQW DVSHFWV RI WKH 7%942*&45812&4'*)(3*238&<3%9783?*8&I3*)(3*G37?&)3:*)(3*&4215)&"4*69)3%&98:*3)5=* Z"%*)(3*#1%#"?3*";*#%3?34)&4'*)(3?3*&239?*)"*)(3*58&34):*&4&)&98*6"5ID1#?*G3%3*5%39)32* )"*'&<3*9*;338*";*&)*5"182*73*&6#83634)32=*T(&?*?3)*";*6"5ID1#?*&4581232*9*6"5I*G37?&)3* #9'3:*9*;3G*7""I*5"<3%?:*942*?"63*63%5(942&?3=

:&8%E&;((>&A(K%*,&+0#+&E%*%&A*%#+%2&8(*&+0%&,+(*%&&&

D; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

D(A>&)1,&(8&"%*A0#326,%

/(1&)1&(3&0(K%*

F("%&1#$%

:&+-16A#7&63,62%&1#$%

D(A>&)1,&(8&0(E&+0%&+0%"%&A#3&;%&),%2&8(*&+0%&E%;,6+%

DA !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!F";

,5(4"0,84%94320')(1-

T(&?* <&?198* )(363* G9?* 5%39)32* G&)(* &)?* 69Q"%* ;"51?* "4* )(3* 71&823%?* 9)* Z8&#I9%)=* T(&?* #9%)&5189%*9?#35)*";*Z8&#I9%)*&?*4")*<3%$*G388*I4"G4*942*(3453*)(&?*)(363*92<3%)&?32*)(&?* SDUWLFXODU YDOXH RI WKHLU ZRUN FXOWXUH 7KLV SDUWLFXODU YLVXDO WKHPH ZDV EXLOW VSHFLȴFDOO\ IRU WKH WKHPH RI 7KLQN LW" %XLOG LW 7KH YLVXDO WUHDWPHQW FRPSULVHG RI D FLW\ RI GL΍HUHQW GHSDUWPHQWV RI )OLSNDUW ZLWK ODUJHU WKDQ OLIH ȴJXUHV WKDW DUH VHHQ EXV\ EXLOGLQJ WKH Z8&#I9%)*43)G"%I=*

!77),+*#+6(3&"(A>&)1,&8(*&+0%&+0%"%&E6+0&A0#*#A+%*,&+0#+&#*%&7#*$%*&+0#3&768%

DH !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

D(A>&)1,&),63$&+0%&677),+*#+6(3&8(*&+0%&E%;,6+%

D7 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!F"B

,5(4&%1')4%949'06#!1,

T(&?*)(363*G9?*5%39)32*)"*(&'(8&'()*)(3*3<3%$29$*95)&<&)&3?*9)*Z8&#I9%)=*T(3*5"453#)*G9?* 79?32*"4*9*'%39)*29$*9)*G"%I*3<3%$29$*942*)(9)*3<3%$29$*69))3%?=*T(&?*98?"*?("G59?32* WKH GL΍HUHQW DVSHFWV RI HDFK RI WKH GHSDUWPHQWV RI )OLSNDUW 7KLV ZDV DOVR D ZLQGRZ LQWR WKH LQVLGH ZRUOG RI )OLSNDUW DQG FRXOG EH XVHG WR VKRZFDVH WKH GL΍HUHQW RSHUDWLRQV DW Z8&#I9%)=*F)*(&'(8&'()32*)(3*&6#95)*";*)(3*G"%I*2"43*29&8$=

ΖOOXVWUDWLRQ PRFN XSV RI WKH GL΍HUHQW GHSDUWPHW DFWLYLWLHV DW )OLSNDUW

DK !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

D(A>&)1,&(8&0(E&+0%&+0%"%&A#3&;%&,A#7%2&+(&+0%&E%;,6+%

DD !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!F"C

,5(460,"5

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΍HUHQW DSSOLFDWLRQV WKH\ ZHUH ORRNLQJ DW +HQFH )(&?*#9%)&5189%*)(363*G9?*23)9&832*"1)*1?&4'*)(3*)(363*";*d>G3?"63*J<3%$29$?b*)"*'&<3* )(36*94*&239*";*("G*)(&4'?*G"182*8""I=*T(&?*#9%)&5189%*#&)5(*G9?*<3%$*5%15&98:*9?*&)*G9?* WKH ȴQDO FKRLFH RI ZKDW ZRXOG GHȴQH WKH EUDQG 7KH LGHDV ZHUH VKDUHG ZLWK D ELJ WHDP ;%"6*Z8&#I9%)*&45812&4'*)(3*;"1423%?*";*Z8&#I9%)=**T(3*;332795I*;%"6*)(&?*633)&4'*G9?* FUXFLDO WR WKH UHȴQHPHQWV GRQH WR WKH LGHD DQG IXHOHG WKH GHVLJQ GHYHORSPHQW SURFHVV

DJ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

B%%2;#A>&#32&3(+%,&8*("&+0%&*%K6%E&"%%+63$&E6+0&B761>#*+

DI !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

// ,5(4&(3-0,( !!"!#$#1*42&#%2*.: !!",#.H/.4($(*&)9#:2&1#(-.#=.%9*(. !!"5##%'*0+*)6#$#6&&+#=.%9*(. !!"7##/&/'0$2#(2.$)9#*)#=.%9*(.#+.9*6)

!!"!

!4+0"1%4310(94

6WDUWLQJ R΍ WKH ZRUN RQ WKH ZHEVLWH ZDV FKDOOHQJLQJ DW WKH VDPH WLPH H[FLWLQJ DV LW ZDV WKH ȴUVW WDQJLEOH GHOLYHUDEOH RI WKH HQWLUH EUDQG EXLOGLQJ DQG GHYHORSPHQW SURFHVV +HQFH LW ZDV WKRXJKW EHVW WR EXLOG D EULHI VSHFLȴFDOO\ IRU WKH ZHEVLWH 7KH ZHEVLWH (92*)"*73*9*694&;3?)9)&"4*";*)(3*7%"92*)(363*";*d>G3?"63*J<3%$29$?b*942*98?"*71&82* 9* <&?198* ?)$83* 79?32* "4* )(3* ?)"%3* &239=* >4")(3%* %3[1&%3634)* ;%"6* )(3* G37?&)3* G9?* 5"4<3$&4'* )(3* G"%I* 518)1%3* 942* <9813?* &4* 94* &4)3%3?)&4'* 69443%* 942* $3)* ?3%<3* 9?* 9* ?"1%53*";*&4;"%69)&"4*;"%*)(3*1?3%?=* 7KH ZHEVLWH LV WKH ȴUVW SRLQW RI FRQWDFW ZLWK WKH SRWHQWLDO FDQGLGDWH DQG KHQFH KDG WR EH GHVLJQHG LQ D ZD\ WKDW LW ZRXOG FRQYH\ WKH ULJKW NLQG RI ZRUN SURȴOH DQG FXOWXUH ;"88"G32*9)*Z8&#I9%)=*T(3*G37?&)3*G9?*98?"*)"*?3%<3*9?*9*#89);"%6*;"%*8&?)&4'*942*9##8$&4'* ;"%*)(3*Q"7?=

!!",

(G6(",!,0%$-491%+4,5(4&(3-0,(

>*;3G*"7Q35)&<3?*)"*73*I3#)*&4*6&42*G(&83*23?&'4&4'*)(3*G37?&)3*G3%3*8&?)32*2"G4*G(&83* VWDUWLQJ R΍ WKH ZRUN RQ LW 7KH FDUHHUV ZHEVLWH ZDV WKH IDFH DQG WKH ȴUVW LQWHUDFWLRQ #")34)&98*)9834)*G"182*(9<3*G&)(*Z8&#I9%)*9?*94*36#8"$3%*"%'94&?9)&"4=* >*G388*23?&'432*G37?&)3*4")*"48$*34'9'3?*942*&6#9%)?*&4;"%69)&"4*71)*&?*98?"*9*#9%)* ";*)(3*7%942*3H#3%&3453=*F)*?9$?*9*8")*97"1)*)(3*7%942:*942*&4*)(&?*73&4'*)(3*"48$*"%* %9)(3%*)(3*6"?)*G&238$*1?32*632&16*";*5"6614&59)&"4:*)(3*G37?&)3*G"182*2%9G*)(3* )9834)*)"G9%2?*Z8&#I9%)=*V3453:*&)*G9?*<3%$*5%15&98*)"*5"4<3$*)(3*%&'()*63??9'3*942*1?3%* 3H#3%&3453*)"*9))%95)*)(3*%&'()*I&42*";*)9834)*)(%"1'(*)(3*G37?&)3=*

J.

!!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!!"5

320')0$*4!4*%%)4&(3-0,(

5+R#X-S&+R()*#(:VR%#+$# T(3* 6"?)* &6#"%)94)* )(&4'* )"* 1423%?)942* G(34* 23?&'4&4'* 94* "48&43* 3H#3%&3453* &?* $"1%*912&3453=*k423%?)942&4'*)(3&%*4332?:*(97&)?*942*("G*)(3$*1?3*)(3*#%"215)*9%3* &6#"%)94)*&4?&'()?*)(9)*594*69I3*23?&'4&4'*)(3*"48&43*3H#3%&3453*73))3%*?1&)32*)"*)(3* )9%'3)*912&3453=*T(&?*#%"53??*";*1423%?)942&4'*)(3*)9%'3)*912&3453*594*73*2"43*&4*9* <9%&3)$*";*G9$?*8&I3*?1%<3$?:*G(&5(*9%3*6"%3*&6#3%?"498*"%*;953D)"D;953*5"4<3%?9)&"4?:* G(&5(*9%3*6"%3*#3%?"498*942*'&<3*73))3%*&4?&'()?=*T(3?3*5"4<3%?9)&"4?*#1)*)"'3)(3%* (38#*&4*71&82&4'*1?3%*#3%?"49?:*G(&5(*9%3*9''%3'9)3*%3#%3?34)9)&"4?*";*)$#&598*1?3%?* )(9)*G"182*&4)3%95)*G&)(*)(3*#%"215)= 3X%#+S(:+R()X%TT#X 6PDOOHU ȴQHU GHWDLOV WKDW WHOO WKH XVHU ZKHUH WKH\ DUH RU ZKDW WKH\ FDQ GR KHOS LQ UHȴQLQJ WKH XVHU H[SHULHQFH 7KH ȴQHU GHWDLOV DUH WKH H[WUD HGJH IRU VHDPOHVV XVHU 3H#3%&3453?=*a9$?*;"%G9%2*594*73*694&;3?)32*&4*)(3*G37?&)3b?*49<&'9)&"4*71)*594*98?"* EH LPSOHPHQWHG DV D΍RUGDQFHV $΍RUGDQFHV DUH HOHPHQWV LQ WKH LQWHUIDFH WKDW DUH REYLRXVO\ FOLFNDEOH VXFK DV EXWWRQV DQG VOLGHUV $΍RUGDQFHV RU WULJJHUV UHGXFH WKH #%"797&8&)$*";*1?3%?*69I&4'*6&?)9I3?*"%*?&6#8$*'3))&4'*5"4;1?32= @##"(0S(!%Q"'#(:+R(9&-a T(3* 1?3%* 3H#3%&3453* 594* 73* 6923* 5"6;"%)9783* 7$* 1?&4'* Q1?)* )(3* %&'()* 41673%* ";* 383634)?*)(9)*9%3*%3[1&%32*)"*5"6#83)3*9*53%)9&4*)9?I*G&)("1)*5%"G2&4'*)(3*&4)3%;953* ZLWK WRR PDQ\ HOHPHQWV MXV WR PDNH LW ORRN JRRG 7KH EUDQG LV D UHȵHFWLRQ QRW RQO\ RI )(3*93?)(3)&5*71)*";*)(3*3H#3%&3453=*\33#&4'*)(3*23?&'4*6&4&698*7$*I33#&4'*Q1?)*)(3* 79?&5*3??34)&98*383634)?*34?1%3?*9*58394*1?9783*3H#3%&3453= *

J; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

6U+b#X-# F4)3%95)&"4* 23?&'4* (39<&8$* ;"51?3?* "4* ;332795I* ;%"6* )(3* 1?3%=* T(3* 3H#3%&3453* 61?)* 73*23?&'432*&4*9*G9$*)(9)*#%"<&23?*G9$?*;"%*)(3*?$?)36*)"*5"6614&59)3*795I*)"*)(3* 1?3%*G(34*)(3$b<3*2"43*?"63)(&4'*%&'()*"%*G%"4'=*T(&?*2&98"'13*73)G334*)(3*1?3%*942* )(3*G37?&)3*61?)*98?"*73*23?&'432*942*5"4?&?)34)=*X$*&234)&;$&4'*)(3*1?3%b?*4332?*942* 9&2&4'* )(36* G&)(* )(3* %3[1&%32* &4;"%69)&"4* 942* )%&''3%&4'* 95)&"4?:* )(3* 3H#3%&3453* &?* 6"%3*(1694&?32=* %XLOG $ :RUNȵRZ $ORQJ ZLWK D JRRG YLVXDO GHVLJQ LW LV DOVR FUXFLDO WR HQVXUH D IUHH ȵRZLQJ ZRUNȵRZ (DFK #9'3*61?)*73*23?&'432*5"4?&23%&4'*G(9)*)(3*1?3%*594*2"*"4*)(3*#9'3*942*("G*)(3*43H)* VWHS LQ WKH SURFHVV ȴWV LQWR WKH ZRUNȵRZ 7KH ZRUNȵRZ PXVW EH ORJLFDO DQG ȴW LQWR WKH 3H#3%&3453*942*<&?198*894'19'3*)(9)*G9?*5%39)32:*?"*)(9)*)(3*3H#3%&3453*;338?*G("83* 942* 5"4?&?)34)=* T(3?3* 383634)?* 9%3* G(9)* 922* 5%32&7&8&)$* )"* )(3* 7%942* 942* &45%39?3* 1?3%?b*)%1?)*&4*$"1%*23?&'4=

JA !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!!"7

6%62'!14,1($)-40$4&(3-0,(4)(-0*$ +%)2'!14&(3-0,(4)(-0*$

:(QURV'&X(&""XU&$*(SU("&T#(R#-%T+($&+(-&b#(S%Q#(%+(R#b#'U"%+T(&+R(Q&%+S&%+%+T(&( ZHE VLWH $ SDJH WHPSODWH PD\ EH FUHDWHG DQG WKH GL΍HUHQW FRPSRQHQWV RI WKH SDJH "'VTT#R(%+(]*#X#(&""XU"X%&S#[()*%-(&""XU&$*(SU(R#-%T+(]#`"&T#-(]UX,-(`#-S(%^(S*#( #'#Q#+S-(&X#($UQQU+(SU(QV'S%"'#("&T#-(&$XU--(S*#(]#`-%S#(&+R(U+'a(S*#($U+S#+S( U^(S*#(#'#Q#+S-($*&+T#-[(:""XU&$*%+T('&aUVS-(%+(&(QURV'&X(^&-*%U+(%-(^&bUVX#R(`a( 5HVSRQVLYH :HE 'HVLJQ 0DQDJLQJ DUHDV RI D GHVLJQ LQ PRGXODU FKXQNV DOORZV ȵXLG X#"U-%S%U+%+T(&+R(-#TX#T&S#-($U+S#+S($'#&X'a[

F(E&"(2)7#*&E%;,6+%,&E(*>I

JH !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

:&1*6"%&%@#"17%&(8&"(2)7#*&2%,6$3&<&L#32(*&:,,(A6#+%,

1(-6%$-0?(4&(34)(-0*$

2#-"U+-%b#(?#`(R#-%T+(%-(S*#(&""XU&$*(S*&S(-VTT#-S-(S*&S(R#-%T+(&+R(R#b#'U"Q#+S( -*UV'R( X#-"U+R( SU( S*#( V-#XM-( `#*&b%UVX( &+R( #+b%XU+Q#+S( `&-#R( U+( -$X##+( -%\#c( SODWIRUP DQG RULHQWDWLRQ 7KH SUDFWLFH FRQVLVWV RI D PL[ RI ȵH[LEOH JULGV DQG OD\RXWV %Q&T#-( &+R( &+( %+S#''%T#+S( V-#( U^( 6!!( Q#R%&( dV#X%#-[( 0+( US*#X( ]UXR-c( S*#( ]#`-%S#( -*UV'R(*&b#(S*#(S#$*+U'UTa(SU(&VSUQ&S%$&''a(X#-"U+R(SU(S*#(V-#XM-("X#^#X#+$#-[()*%-( ZRXOG HOLPLQDWH WKH QHHG IRU D GL΍HUHQW GHVLJQ DQG GHYHORSPHQW SKDVH IRU HDFK +#](T&RT#S(U+(S*#(Q&X,#S[ ?%S*(S*#("XU'%^#X&S%U+(U^($U++#$S#R(R#b%$#-(U^(b&X%UV-(R%Q#+-%U+-c(50-(*&b#(*&R(SU( EHFRPH PRUH ȵXLG :KLOH UHVSRQVLYH GHVLJQ GRHV QRW FDOO IRU D SDUWLFXODU DHVWKHWLF RQH FRXOG FHUWDLQO\ DUJXH WKDW ȵDW 8ΖV OHQG WKHPVHOYHV WR LW PRUH HDVLO\ WKDQ PDQ\ US*#X(-Sa'#-[()*#(US*#X(&Rb&+S&T#(U^(Q%+%Q&'(R#-%T+(%-(S*#(X#RV$S%U+(%+("&T#(]#%T*S( &+R('U&R%+T(S%Q#[

M%,1(3,6K6+-&#A*(,,&2%K6A%,

J7 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

9'!,4)(-0*$

F4*)(3*89?)*?3<3%98*$39%?:*)(3%3*(9?*7334*9*%9#&2*?(&;)*&4*&4)3%;953*23?&'4:*;%"6*/DA* DQG VNHXRPRUSKLF WR ȵDW DQG PLQLPDO 7KHUH DUH VHYHUDO IDFWRUV WKDW FDXVHG WKLV ?(&;)=*R9)(3%*)(94*8""I&4'*9)*&)*9?*9*63%3*)%342:*&)*&?*615(*6"%3*8"'&598*)"*8""I*9)*&)* 9?*9*%3?18)*";*53%)9&4*5"4?)%9&4)?*942*8&6&)9)&"4?*";*?I31"6"%#(&5*23?&'4=*F)*&?*)(3* 694&;3?)9)&"4*";*9*23?&%3*;"%*'%39)3%*91)(34)&5&)$*&4*23?&'4:*9*23?&%3*)"*51%7*<&?198* H[FHVV DQG HOLPLQDWH WKH IDNH DQG WKH VXSHUȵXRXV Î&#x2013;Q GLJLWDO GHVLJQ DXWKHQWLF RU ȵDW GHVLJQ FDQ EH URXJKO\ VXPPDUL]HG DV IROORZLQJ 9Q`X&$#(?*&S(0-(4%T%S&' A&'&)98* &4)3%;953?* 9%3* 4")* 6923* ";* )3H)1%3?* ?15(* 9?* 63)988&5:* G""2:* 3)5=* (3453:* 6&6&5I&4'*)(36*2"3?*4")*69I3*?34?3=**T(&?*98?"*2"3?*4")*6394*)(9)*988*)(3*23?&'4* QHHGV WR EH ȵDW VZDWFKHV RI FRORXU EXW LQVWHDG WR GR DZD\ ZLWK UHFUHDWLQJ UHDO G"%82*)3H)1%3?= E&,#()*#(!Sa'#(6U+S#+S(6&+S#X#R T(3*G37?&)3*61?)*73*71&8)*7$*;"51?&4'*"4*)(3*5"4)34)*942*4")*)(3*?)$8&4'=*a"%I&4'* G&)(* 2166$* 5"4)34)* ;"%53?* "43* )"* )(&4I* 97"1)* )(3* <&?198* 9##398* 942* 4")* )(3* ;145)&"498* 9?#35)* ";* &4)3%95)&"4=* V3453:* G"%I&4'* G&)(* %398* 5"4)34)* 594* )%18$* )%94?;"%6*;145)&"4*&4)"*;"%6= 8X&$#^V'(4#TX&R&S%U+ >*23?&'4*79?32*"4*;145)&"4*2"3?*4")*6394*&)*(9?*)"*73*6&4&698&?)=*X$*'3))&4'*%&2* ";*<&?198*581))3%*2"3?*4")*4353??9%&8$*6394*)(3*G37?&)3*&?*39?$*)"*1?3=*F4*T(3*Y9G?* ";*0&6#8&5&)$*n"(4*U9329*#"?&)?:*cT(3*?&6#83?)*G9$*)"*95(&3<3*?&6#8&5&)$*&?*)(%"1'(* )("1'();18* %3215)&"4=* a(34* &4* 2"17):* Q1?)* %36"<3=* X1)* 73* 59%3;18* ";* G(9)* $"1* %36"<3=e*R36"<&4'*<&?198*513?*G&)("1)*)("1'()*Q1?)*)"*5%39)3*6&4&698&?)*93?)(3)&5* 9##398*5"182*)1%4*"1)*)"*73*1))3%8$*294'3%"1?*942*5"4;1?3*)(3*1?3%=

JK !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

=632(E,&O<&D%+*(

JD !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

C>%)("(*106,"&KN,&B7#+&9%,6$3

/B 1(9(1($"(4"!-(4-,2)0(!,"!##1$(2*H#'9.+#(&#$)$089.#<$2*&'9#4$2..29#=.%9*(.9 !,",##1*42&9&:( !,"5##6&&60. !,"7##$//0. !,";##*%1 !,"B##.I8 !,"C##2.9.$24-#9'11$28 !,"D#:0*/@$2(#4$2..29#=.%9*(.#.H/.2*.)4.

JJ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

$QRWKHU VHW RI FDVH VWXGLHV ZDV SLFNHG RXW WR VWXG\ GL΍HUHQW FDUHHUV ZHEVLWHV IRU WKHLU ;145)&"498&)$*942*23?&'4=*F4*)(&?*?3)*)(3*9498$?3?*;"51?32*69&48$*"4*)(3*1?3%*&4)3%95)&"4*942* 3H#3%&3453* 383634)?* ";* )(3* #9%)&5189%* G37?&)3=* T(3%3* G3%3* 9* ;3G* )(&4'?* )(9)* G3%3* ?)12&32* 58"?38$*)"*1423%?)942*942*98?"*5"6#9%3*)(3*5("?34*G37?&)3?=

!,"! +!,10G42-()4,%4!$!'8-(44 ?!10%2-4"!1((1-4&(3-0,(-

31!$)4$!+(44!$)4)(-"106,0%$ (+6'%8(1431!$)4+(--!*(

&(3-0,(4-"1((-$-5%,-

$%,(-4%$42-(140$,(1!",0%$ )$<*6$(*&)#I#*)(.2$4(*&) '!8%2,4!$)4*10) $%,(-4%$4?0-2!'4'!$*2!*(

($*!*(+($, V"G*615(*2"3?*)(3*G37?&)3*5"4)34)* I33#*)(3*1?3%*&4)3%3?)32i 0$9%1+!,0?( V"G*615(*5"4)34)*942*<&?198?*&?*)(3%3* "4*)(3*G37?&)3=*V"G*1?3;18*&?*)(3* &4;"%69)&"4i 1(!"54H4'(!)4*($(1!,0%$ V"G*694$*#")34)&98*5942&29)3?* 9##8&32*;"%*Q"7?*)(%"1'()*)(3*G37?&)3* "%*839%4)*97"1)*&)i

&(3-0,(4'0$#

JI !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

?0-2!'4!66(!'

V"G*615(*2"3?*)(3*G37?&)3*9##398* <&?1988$*)"*&)?*1?3%?i

!,", +0"1%-%9, *SS"YZZ$&X##X-[Q%$XU-U^S[$UQZ I

B C P(;&A#*+&#32&:2K#3A%2&Q(;&,%#*A0 X%942*U3??9'3

F

!"4)34)*2&?#89$32* G&)("1)*?5%"88

/

L#3263$&/#$%

F("%&/#$%

I/ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

:117-&5(E

U&5%"?";)*%14?*?&H*71?&43??*14&)?*&4*F42&9K*U&5%"?";)*!"%#"%9)&"4* F42&9*MB<)N*Y)2*M)(3*69%I3)&4'*2&<&?&"4N:*U&5%"?";)*F42&9*A3<38"#634)* !34)3%:*U&5%"?";)*@8"798*T35(4&598*01##"%)*!34)%3:*U&5%"?";)*FT:* U&5%"?";)*03%<&53?*@8"798*A38&<3%$*942*U&5%"?";)*R3?39%5(*F42&9=* T"'3)(3%:*)(3$*%3#%3?34)*)(3*5"6#83)3*U&5%"?";)*#%"215)*8&;35$583=

($*!*(+($,

V"G*615(*2"3?*)(3*G37?&)3*5"4)34)*I33#*)(3*1?3%*&4)3%3?)32i

!"63*9?*$"1*9%3=*A"*G(9)*$"1*8"<3=

T(3*1?3%*&4)3%95)&"4*&?*6923*&4)3%3?)&4'*7$*5%39)&4'*(&3%9%5($*1?&4'* 5"8"1%?:*(&'(8&'()32*?35)&"4?:*("<3%?:3)5=

$!?0*!,0%$4H40$,(1!",0%$ /

>*#"#*1#*"4*("<3%*)(9)*8392?*)"*)(3*5"14)%$*";*$"1%*5("&53*942* WKH FRQWHQW VSHFLȴF UHODWHG WR WKDW $ FKRLFH ULJKW LQ WKH EHJLQQLQJ 955"%2&4'*)"*)(3*1?3%b?*3H#3%&3453*83<38=*

B

>*6341*8&?)&4'*"4*("<3%*)(9)*)388?*)(3*1?3%*97"1)*)(3*<9%&"1?*?35)&"4?* XQGHU WKH PDLQ FODVVLȴFDWLRQV RQ WKH VLWH

C

$ NH\ ZRUG VHDUFK WKDW KHOS WKH XVHU ȴQG WKH H[DFW NLQG RI MRE VXLWHG )"*(&?*4332?=

F

0#35&98*(&'(8&'()?*)"*'1&23*1?3%?=

I

>*Q"7*59%)*)(9)*)%95I?*9*1?3%b?*#9?)*95)&<&)$*942*98?"*#%"<&23?*94* 92<94532*?39%5(*9?*G388*9?*%35"663429)&"4?=

F)*1?3?*9*?&6#83*58394*89$"1)*2%&<34*7$*9*?)%"4'*'%&2=*F)*98?"*1?3?* )$#"'%9#($*)"*3?)978&?(*9*?)%"4'*(&3%9%5($*&4*)(3*5"4)34)=*T(3*89$"1)* &?*5"4)34)*2%&<34=*F)*1?3?*#(")"'%9#(&5*383634)?*)"*922*5"8"1%=

0$9%1+!,0?( V"G*615(*5"4)34)*942*<&?198?*&?*)(3%3*"4*)(3*G37?&)3=* V"G*1?3;18*&?*)(3*&4;"%69)&"4i

1(!"54H4'(!)4*($(1!,0%$

V"G*694$*#")34)&98*5942&29)3?*9##8&32*;"%*Q"7?*)(%"1'()*)(3* G37?&)3*"%*839%4)*97"1)*&)i

?0-2!'4!66(!'

V"G*615(*2"3?*)(3*G37?&)3*9##398*<&?1988$*)"*&)?*1?3%?i

T(3*59%33%?*?&)3*)""*;"88"G?*9*<&?198*894'19'3*)(9)*5"6#83634)?*)(3* QHZ ȆPHWURȇ VW\OH GHYHORSHG E\ 0LFURVRIW XVLQJ ȵDW GHVLJQ T(3*97"<3*%9)&4'?*9%3*79?32*"4*#3%?"498*"#&4&"4?*942*4")*#1%3*?)9)&?)&5?=

I. !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!,"5 *%%*'( *SS"YZZ]]][TUUT'#[$U[%+Z%+S'Z#+Z&`UVSZ_U`-Z

I

R-16A#7&!3,62%&/#$%

X%942*U3??9'3

/ !"4)34)*2&?#89$32* G&)("1)*?5%"88

B

C F

P(;&,%#*A0&/#$%

F("%&/#$%

I; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

R%#",&#32&*(7%,&#+&S(($7%

@""'83b?*6&??&"4*&?*)"*"%'94&W3*)(3*G"%82b?*&4;"%69)&"4*942*69I3*&)* XQLYHUVDOO\ DFFHVVLEOH DQG XVHIXO $W *RRJOH GL΍HUHQFH LV FHOHEUDWHG VXSSRUWHG DQG WKULYHG RQ IRU WKH EHQHȴW RI RXU HPSOR\HHV RXU #%"215)?*942*"1%*5"6614&)$=*@""'83*&?*#%"12*)"*73*94*3[198* RSSRUWXQLW\ ZRUNSODFH DQG LV DQ DɝUPDWLYH DFWLRQ HPSOR\HU

($*!*(+($,

V"G*615(*2"3?*)(3*G37?&)3*5"4)34)*I33#*)(3*1?3%*&4)3%3?)32i

A"*5""8*)(&4'?*)(9)*69))3%=

T(3*1?3%*&4)3%95)&"4*&?*I3#)*<3%$*?&6#83*942*&4)1&)&<3=

0$9%1+!,0?(

$!?0*!,0%$4H40$,(1!",0%$

V"G*615(*5"4)34)*942*<&?198?*&?*)(3%3*"4*)(3*G37?&)3=* V"G*1?3;18*&?*)(3*&4;"%69)&"4i

/

>*534)%98*942*?&6#83*Q"7*?39%5(*2%&<34*7$*?1''3?)&<3*942*I3$G"%2* ?39%5(=

B

8VH RI VLPSOH LFRQV LQ *RRJOH FRORXUV WR UHSUHVHQW WKH GL΍HUHQW 23#9%)634)?*942*)(3*<9%&"1?*%"83?*&4*395(*23#9%)634)?=

C

$ NH\ ZRUG VHDUFK WKDW KHOS WKH XVHU ȴQG WKH H[DFW NLQG RI MRE VXLWHG )"*(&?*4332?=

F

$Q DGYDQFHG MRE VHDUFK ZLWK D QXPEHU RI ȴOWHUV WR OHDG WKH XVHU WR WKH H[DFW MRE VSHFLȴFDWLRQ DV SHU KLV QHHGV

I

>*G388*#89532*%&'()D(942*?&23*6341*G&)(*8&4I?*)"*%389)32*?35)&"4?*"4* )(3*?&)3=

F)*1?3?*9*?&6#83*58394*89$"1)*2%&<34*7$*9*?)%"4'*'%&2=*F)*98?"*1?3?* )$#"'%9#($*942*)(3*&5"4&5*7%942*5"8"1%?*)"*3?)978&?(*9*?)%"4'* (&3%9%5($*&4*)(3*5"4)34)=*T(3*?&)3*1?3?*9*6&H*";*632&9*8&I3* #(")"'%9#(?:*<&23"?:*3)5=*)"*'&<3*9*?439I*#39I*&4)"*)(3*'""'83*518)1%3=

1(!"54H4'(!)4*($(1!,0%$

V"G*694$*#")34)&98*5942&29)3?*9##8&32*;"%*Q"7?*)(%"1'()*)(3* G37?&)3*"%*839%4)*97"1)*&)i

?0-2!'4!66(!'

V"G*615(*2"3?*)(3*G37?&)3*9##398*<&?1988$*)"*&)?*1?3%?i

T(3*59%33%?*?&)3*1?3?*)(3*&5"4&5*'""'83*7%942*894'19'3*)"*2%9G*9* 5"4435)*)"*3<3%$)(&4'*)(3$*2"= T(3*97"<3*%9)&4'?*9%3*79?32*"4*#3%?"498*"#&4&"4?*942*4")*#1%3*?)9)&?)&5?=

IA !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!,"7 !66'( *SS"YZZ]]][&""'#[$UQZ_U`-ZV-Z I X%942*U3??9'3 !"4)34)*2&?#89$32* G&)("1)*?5%"88

/

B

F

C

P(;&,%#*A0&/#$%

'#*%%*&S)62%

IH !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

F("%&/#$%

>)*>##83:*)(3*Q"7*&?*5(98834'&4':*&4?#&%&4'*942*9*#9%)*";*?"63)(&4'*7&'=* >##83*8&<3?*7$*?&6#8&5&)$=*>)*>##83*3<3%$*23)9&8*69))3%?*942*)(3$*?)%&<3* )"**)9I3*59%3*";*3<3%$*8&))83*)(&4'=*F)*&?*98G9$?*7%&66&4'*G&)(*5%39)&<&)$=

($*!*(+($,

V"G*615(*2"3?*)(3*G37?&)3*5"4)34)*I33#*)(3*1?3%*&4)3%3?)32i

>69W3*$"1%?38;=*>69W3*)(3*G"%82=

T(3*1?3%*&4)3%95)&"4*&?*?39683??*942*69'&598*8&I3*3<3%$*")(3%*>##83* #%"215)=*F)*&?*58394*942*G388*"%'94&?32*Q1?)*8&I3*)(3*%3?)*";*)(3*9##83* G37?&)3=

$!?0*!,0%$4H40$,(1!",0%$ /

$ FHQWUDO DQG VLPSOH MRE VHDUFK WKDW KHOSV WKH XVHU ȴQG WKH ULJKW MREV ;"%*(&6?38;=*

B

>*?#35&98*59%33%*'1&23*?35)&"4*;"%*5"883'3*?)1234)?*942*'%9219)3?*)"* &234)&;$*G(9)*)(3$*594*2"*9)*>##83=

C

V&'(8&'()32*5988*)"*95)&"4?=*T(&?*95)?*9?*9*)%&''3%**)"*2&?5"<3%*6"%3*"4* )(3*G37?&)3=

F

$ ZHOO RUJDQLVHG DQG ȴOWHUHG MRE VHDUFK SDJH

I

k?3*";*&4)3%3?)&4'*36#8"$33*)3?)&6"4&98?*942*95(&3<3634)?:*9?* >##83*;95)?*;"%*)(3*79443%?*)(9)*34'9'3*)(3*1?3%= F)*&?*9*<3%$*89$"1)*2%&<34*G37?&)3*942*98?"*;"88"G?*)(3*?963*<&?198* 894'19'3*9?*)(3*%3?)*";*>##83*#%"215)?=*F)?*9*#%&63*3H96#83*";*9* 5"4?&?)34)*3H#3%&3453*23?&'4=*F)*;"88"G?*9*6&H32*)%39)634)*1?&4'* #(")"'%9#(?:*<&23"?*9?*G388*9?**5"4)34)=

0$9%1+!,0?( V"G*615(*5"4)34)*942*<&?198?*&?*)(3%3*"4*)(3*G37?&)3=* V"G*1?3;18*&?*)(3*&4;"%69)&"4i

1(!"54H4'(!)4*($(1!,0%$

V"G*694$*#")34)&98*5942&29)3?*9##8&32*;"%*Q"7?*)(%"1'()*)(3* G37?&)3*"%*839%4)*97"1)*&)i

?0-2!'4!66(!'

V"G*615(*2"3?*)(3*G37?&)3*9##398*<&?1988$*)"*&)?*1?3%?i

T(3*59%33%?*?&)3*98?"*1?3?*)(3*58394:*&5"4&5*942*69'&598*<&?198* 894'19'3*";*>##83*G(&5(*I33#?*)(3*34)&%3*>##83*3H#3%&3453*("8&?)&5=* T(3*97"<3*%9)&4'?*9%3*79?32*"4*#3%?"498*"#&4&"4?*942*4")*#1%3*?)9)&?)&5?=

I7 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!,"; 03+ *SS"YZZ]]]W/D[%`Q[$UQZ%+Z$&X##X-Z%+R#e.[*SQ'

X%942*U3??9'3

/

!"4)34)*2&?#89$32* G&)("1)*?5%"88

F

C F("%&/#$%

I

B

L#3263$&/#$%

P(;&,%#*A0&/#$%

IK !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

R-16A#7&!3,62%&/#$%

FXU*F42&9b?*?"81)&"4?*942*?3%<&53?*?#94*988*69Q"%*&421?)%&3?=*T(3* 2&<3%?&)$*942*7%392)(*";*)(3*34)&%3*FXU*#"%);"8&"*";*%3?39%5(:* 5"4?18)&4':*?"81)&"4?:*?3%<&53?:*?$?)36?*942*?";)G9%3:*14&[138$* 2&?)&4'1&?(3?*FXU*F42&9*;%"6*")(3%*5"6#94&3?*&4*)(3*&421?)%$=

($*!*(+($,

V"G*615(*2"3?*)(3*G37?&)3*5"4)34)*I33#*)(3*1?3%*&4)3%3?)32i

$UH \RX D SUREOHP VROYHU" $UH \RX D GL΍HUHQFH PDNHU" $UH \RX UHDG\ )"*69I3*)(3*#8943)*G"%I*?69%)3%i*>%3*$"1*94*FXU3%i

T(3*1?3%*&4)3%95)&"4*&?*5"6#83H*942*4")*<3%$*1?3%*;%&3428$=*T(3%3*9%3* 9))36#)?*)"*?&6#8&;$*1?&4'*?"63*79?&5*6341?*942*("<3%?=

$!?0*!,0%$4H40$,(1!",0%$ /

V&'(8&'()32*?35)&"4?*G&)(*("<3%*;145)&"4?*)"*8392*)"*69Q"%*?35)&"4?*";* )(3*G37?&)3=

B

>*6341*)(9)*%3)9&4?*)(3*79443%*?#953*G&)(*?(&;)&4'*5"4)34)*738"G=

C

$ GHWDLOHG MRE VHDUFK ZLWK ȴOWHUV WR KHOS WKH XVHU LGHQWLI\ WKH ULJKW ȴW ;"%*(&6?38;=

F

0"5&98*632&9*&4)3'%9)&"4*)"*&45%39?3*8392*'343%9)&"4=*>4*"#)&616* 1?3*";*)(3*%&'()*?&23*5"8164=

I

Y&4I?*)"*1?3;18*<&23"?*942*")(3%*632&9*;"%*9*23)9&832*)"1%*";*FXU*942* &)?*518)1%3=

F)*&?*9*5"4)34)*2%&<34*G37?&)3*G&)(*9))36#)?*)"*69I3*&)*6"%3* 1?3%;%&3428$*1?&4'*?"63*<3%$*79?&5*&4)3%95)&"4*383634)?=*T(3*89$"1)*&?* 5(9")&5*942*1?3?*<3%$*8&))83*(&3%9%5($=

0$9%1+!,0?( V"G*615(*5"4)34)*942*<&?198?*&?*)(3%3*"4*)(3*G37?&)3=* V"G*1?3;18*&?*)(3*&4;"%69)&"4i

1(!"54H4'(!)4*($(1!,0%$

V"G*694$*#")34)&98*5942&29)3?*9##8&32*;"%*Q"7?*)(%"1'()*)(3* G37?&)3*"%*839%4)*97"1)*&)i

?0-2!'4!66(!'

V"G*615(*2"3?*)(3*G37?&)3*9##398*<&?1988$*)"*&)?*1?3%?i

T(3*59%33%?*?&)3*895I?*<&?198*9##398*942*2"3?*4")*5"6#83634)*)(3* FXU*<&?198*894'19'3*<3%$*G388= T(3*97"<3*%9)&4'?*9%3*79?32*"4*#3%?"498*"#&4&"4?*942*4")*#1%3*?)9)&?)&5?=

ID !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!,"B (H84 *SS"YZZ]]]W/D[%`Q[$UQZ%+Z$&X##X-Z%+R#e.[*SQ'

/

X%942*U3??9'3

B !"4)34)*2&?#89$32* G&)("1)*?5%"88

F L#3263$&/#$% I

C

'L΍HUHQW GHSDUWPHQWV DW ( <

F("%&/#$%

IJ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

P(;&,%#*A0&/#$%

>*<9813*2%&<34*'8"798*"%'94&?9)&"4*)(9)*#%"<&23?*618)&49)&"498* SURIHVVLRQDO VHUYLFHV ȴUP KHDGTXDUWHUHG LQ /RQGRQ 8QLWHG \&4'2"6=*_43*";*)(3*G"%82b?*8392&4'*#%";3??&"498*?3%<&53?* "%'94&W9)&"4?:*(38#?*5"6#94&3?*95%"??*)(3*'8"73*)"*&234)&;$*942* 59#&)98&W3*"4*71?&43??*"##"%)14&)&3?=

($*!*(+($,

V"G*615(*2"3?*)(3*G37?&)3*5"4)34)*I33#*)(3*1?3%*&4)3%3?)32i

_##"%)14&)&3?*)(9)*?)9$*G&)(*$"1*;"%*8&;3=

T(3*1?3%*&4)3%95)&"4*&?*;9&%8$*%3?"8<32*942*1?3?*34'9'&4'*383634)?* ?15(*9?*("<3%?*98"4'*G&)(*"#)&616*1?3*";*)(3*?#953*"4*)(3*?&)3*)"* ?(9%3*5"4)34)=

$!?0*!,0%$4H40$,(1!",0%$ /

A%"#2"G4*6341*"4*("<3%*)(9)*'&<3*9*?439I*#39I*&4)"*)(3*")(3%* ?35)&"4?*";*)(3*G37?&)3=

B

6SHFLDO KLJKOLJKWHG VHFWLRQV VHJUHJDWHG DFFRUGLQJ WR WKH GL΍HUHQW 1?3%?*942*)(3&%*4332?=

C

0"5&98*632&9*&4)3'%9)&"4*&4*)(3*;"%6*";*)G&))3%*;332*)"*I33#*)(3*89)3?)* XSGDWHV LQ WKH ȵRZ

F

ΖPSRUWDQW QRWLȴFDWLRQV LQ WKH IRUP RI SRS XSV WKDW FRXOG WULJJHU WKH 1?3%*)"*)9I3*94*95)&"4=

I

_#)&616*1?3*";*)(3*83;)*942*%&'()*?&23*?#953?*)"*2&?#89$*;332?*";* 43G?*942*)%&''3%?*5988*)"*95)&"4?= T(3*G37?&)3*;"88"G?*9*79?&5*'%&2=*>?*)(3*?&)3*&?*9*8&))83*5"4)34)*(39<$:* )(3*89$"1)?*?336*)"*73*9*8&))83*5%"G232=*T(3*?&)3*1?3?*G388*"%'94&?32* ?#953?=

0$9%1+!,0?( V"G*615(*5"4)34)*942*<&?198?*&?*)(3%3*"4*)(3*G37?&)3=* V"G*1?3;18*&?*)(3*&4;"%69)&"4i

1(!"54H4'(!)4*($(1!,0%$

V"G*694$*#")34)&98*5942&29)3?*9##8&32*;"%*Q"7?*)(%"1'()*)(3* G37?&)3*"%*839%4)*97"1)*&)i

?0-2!'4!66(!'

V"G*615(*2"3?*)(3*G37?&)3*9##398*<&?1988$*)"*&)?*1?3%?i

T(3*59%33%?*?&)3b?*<&?198*9##398*&?*5%39)32*7$*)(3*1?3*";*#(")"'%9#(?* 942*?"63*&4)3%3?)&4'*&4)3%95)&"4?*383634)?*?15(*9?*("<3%?:* #"#1#?:3)5= T(3*97"<3*%9)&4'?*9%3*79?32*"4*#3%?"498*"#&4&"4?*942*4")*#1%3*?)9)&?)&5?=

II !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!,"C 1(-(!1"54-2++!18

T(3*;"88"G&4'*&?*94*"<3%<&3G*";*988*)(3*59?3*?)12&3?*2"43*&4*)(3*#%3<&"1?*?35)&"4=* T(3*"7Q35)&<3*";*)(&?*"<3%<&3G*&?*)"*8""I*9)*988*)(3*G37?&)3*)"'3)(3%*"4*9*5"6#9%9)&<3* 4")3*79?32*"4*9*;3G*#"&4)3%?=* ?R=:AS4!;;<AS U"?)* G37?&)3?* 1?3* #(")"'%9#(&5* )%39)634)?* )"* 5"4<3$* )(3* G"%I* 518)1%3* ";* )(3* 5"6#94$=*0"63*?&)3?*98?"*9))36#)*)"*1?3*79?&5*&5"4?*942*&4;"'%9#(&5*)%39)634)?* WR H[SODLQ VRPH DVSHFWV RI WKH ȴ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ȴUP 942*&)?*518)1%3=*U"?)*<&?198*5"4)34)*&?*?1##"%)&<3*)"*)(3*69&4*63??9'3=*

!,"D 9'06#!1,44"!1((1-4&(3-0,(4 (G6(10($"(

k?3%*F4)3%95)&"4* h*E9<&'9)&"4 S&?198*>##398

JE@>@JUJET

F4;"%69)&"4

!_ETJET

.// !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

/C ,5(4)(-0*$461%"(-!5"!##%2$*)9(&21*)6#$)+#9*(.1$/#%'*0+*)6 !5",##(8/*4$0#/$6.9 !5"5##9&2(*)6#$)+#&26$)*9*)6#(-.#4&)(.)( !5"7##9*(.1$/#<.29*&)#L, !5";##9*(.1$/#2.<*.=#1..(*)6 !5"B##:*)$0#9*(.1$/ !5"C##'9.2#/.29&)$9 !5"D##4&)(.)(#(2.$(1.)(

./. !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!5"!

31!0$-,%1+0$*4!$)4 -0,(+!64320')0$*

>)*)(&?*?)9'3*9*633)&4'*G9?*%3[1&%32*G&)(*)(3*58&34)*)"*2&?51??*G(9)*)(3$*G94)32* )"*5"6614&59)3*)(%"1'(*)(3*G37?&)3=*T(&?*2&?51??&"4*(38#32*)(3*)396*)"*2%9G*1#* 9*79?&5*?)%15)1%3*;"%*)(3*G37?&)3*&4*)3%6?*";*)(3*5"4)34)=*0&453*)(3*58&34)*98%392$* (92*?"63*&239?*97"1)*G(9)*988*)(3$*G94)32*"4*)(3*G37?&)3:*&)*'9<3*2&%35)&"4*)"*)(3* 34)&%3*?&)369#*71&82&4'*#%"53??=**Z%"6*)(3*&4&)&98*2&?51??&"4?*G&)(*Z8&#I9%)*G9?*7"%4* WKH ȴUVW VLWHPDS IRU WKH ZHEVLWH

'!$)0$*46!*(

5%+(46!*(

!3%2,49'06#!1,

,5(4)(6!1,+($,-

&%1#4"2',21(

7%34)("106,0%$-

"%$,!",

aV>T*F0* ZYFB\>RTi

TJ!VE_Y_@o

>aJ0_UJ* JSJRoA>o0

YF0T*_Z*n_X0

!_ET>!T* AJT>FY0

aVo*n_FE* ZYFB\>RTi ZYFB\>RT*S>YkJ0* >EA*SF0F_E VFRFE@* BVFY_0_BVo C6+%"#1&T%*,6(3&UV

./; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

RJT>FY 0kBBYo*!V>FE* U>E>@JUJET !_RB_R>TJ* ZkE!TF_E0

TVJ*ZFR0T*A>o* >T*ZYFB\>RT EJa0R__U

n_X*0J>R!V >BBYo

k0JR* AJT>FY0* Z_RU

!5", ,860"!'46!*(-

5%+(6!*(

>*534)%98*#9'3* G(&5(*%32&%35)?* )(3*1?3%*)"* GL΍HUHQW SDUWV RI )(3*G37?&)3=* F)*98?"*2&?#89$?* )(3*&6#"%)94)* &4;"%69)&"4*)(3* 1?3%*4332?*"4*)(3* ȴUVW ORRN

+DYLQJ LGHQWLȴHG ZKDW DOO WRROV FDQ EH XVHG WR RUJDQLVH WKH FRQWHQW D QXPEHU ";*)$#&598*#9'3?*G3%3*5%39)32*G&)(*79?&5*G&%3;%963?*&881?)%9)&4'*)(3*79?&5*I&42*";* FRQWHQW WKH\ ZRXOG XVH 7KH OLVW RI FRQWHQWV RI HDFK RI WKH SDJHV ZHUH ȴUVW OLVWHG 2"G4*942*)(34*89&2*"1)*&4)"*<3%$*79?&5*G&%3;%963?=**T(&?*(38#32*&4*235&2&4'*"4*9* 89$"1)*9?*G388=*A3?&'4&4'*)(3?3*)$#&598*#9'3?*G"182*;"%6*)(3*<&?198*894'19'3*9?*G388* DV WKH JXLGHOLQHV WR ȵHVK RXW WKH HQWLUH VLWH +HQFH WKLV VWHS ZDV YHU\ FUXFLDO WR WKH 23?&'4*#%"53??*";*)(3*G37?&)3=*

,860"!'40$-0)(46!*(

-2++!1846!*(

T(&?*#9'3*G"182*73* )(3*)36#89)3?*;"%*6"?)* #9'3?*"4*)(3*G37?&)3=

T(&?*G"182*3??34)&988$* 73*9*8&?)*";*)(3* ?1669%&3?*";*)(3*?17* ?35)&"4?*&4*9*#9%)&5189%* ?35)&"4*";*)(3*G37?&)3=

>*)$#&598*&4?&23* #9'3*G"182*5"4)9&4* &4;"%69)&"4*97"1)*)(3* #9%)&5189%*?35)&"4*98"4'* G&)(*")(3%*8&4I?*)"* ")(3%*#9'3?*942*")(3%* &4)3%95)&"4*383634)?=

ΖW LV WKH ȴUVW &6#%3??&"4*";*)(3* G37?&)3*;"%*)(3* 1?3%=

T(&?*&?*)"*'&<3*9*7%&3;* ?1669%$*97"1)* )(3*?17?35)&"4?* 9?*G388*9?*#%"<&23* 9*8&?)*";*"#)&"4?=*F)* &?*94*&4)3%632&9)3* ?)3#*73)G334*)(3* ("63*#9'3*942*)(3* #9%)&5189%*?17*?35)&"4=

:&76,+&(8&+0%&+-16A#7&E%;,6+%&1#$%,&#32&+0%6*&+%3+#+6K%&A(3+%3+W

./A !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

"%$,!",46!*(

7%34-(!1"54!$)4 !66'846!*(

T(&?*&?*9*5988*)"*95)&"4** #9'3*G&)(*9*79?&5* ;"%6*)(9)*)9I3?*9*;3G* 23)9&8?*;%"6*)(3*1?3%** 942*1?3?*36732232* 369&8*)"*'343%9)3*9* 29)979?3=

T(&?*&?*94*92<94532* ?39%5(*#9'3*)(9)* 988"G?*)(3*1?3%*)"* ?39%5(*;%"6*9*8&?)*";* Q"7*23?5%&#)&"4?*1?&4'* 9*I3$G"%2*?39%5(*942* ȴOWHUV

F)*98?"*#%"<&23?*79?&5** 5"4)95)*23)9&8?*;"%* )(3*1?3%*)"*'3)*&4* )"15(=

F)*98?"*5"4)9&4?* )(3*d9##8$b*95)&"4* G(&5(*8392?*)"*9*Q"7* 9##8&59)&"4*;"%6=

47%34)(-"106,0%$-4 6!*( T(&?*&?*9*8&?)&4'*";*988* )(3*Q"7?*3&)(3%*9?* ?39%5(*%3?18)?*"%*9* #9'3*G&)(*23?5%&#)&"4?* 942*8"59)&"4*";*395(* Q"7= F)*98?"*5"4)9&4?* )(3*d9##8$b*95)&"4* G(&5(*8392?*)"*9*Q"7* 9##8&59)&"4*;"%6=

!5"5 -%1,0$*4!$)4%1*!$0-0$*4 ,5(4"%$,($,

,86%*1!658

J95(*)$#&598*#9'3*G9?*98?"*23)9&832*"1)*&4*)3%6?*";*)(3*5"4)34)*&)*G"182*5"6614&59)3=* F)*G9?*98?"*&6#"%)94)*)"*?3)*9*(&3%9%5($*)"*)(3*5"4)34)*)(9)*G"182*9##39%*"4*)(3?3* #9'3?=* T(%"1'("1)* )(3* 23?&'4* #%"53??* &)* G9?* 98?"* %3[1&%32* )"* #"&4)* "1)* G(9)* HOHPHQWV ZRXOG EH XVHG WR FUHDWH WKH LGHQWLȴHG KLHUDUFK\ LQ FRQWHQW 7KHUH ZHUH D ;3G*)(&4'?*M8&?)32*738"GN*)(9)*5"182*73*1?32*)"*5%39)3*)(3*(&3%9%5($*&4*)(3*5"4)34)=

T$#"'%9#($*&?*"43*";*)(3*79?&5*)""8?*)(9)*594*73*1?32*)"*5%39)3*(&3%9%5($*&4*)(3* FRQWHQW E\ XVLQJ GL΍HUHQW IRQWV VL]HV DQG FRORXU 7\SRJUDSK\ FDQ EH XVHG WR VHW D )"43*)"*)(3*)3H)*9?*G388*9?*)"*(&'(8&'()*"%*1423%#89$*?"63*5"4)34)=

MXJ&YR0%&H*#32&Z36(3[&E%;,6+%

./H !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

D63),\&9%,6$3&E%;,6+%&;-&M#+03#&M#"#3#+0#3

'!8%2,

HH'&=(*72&E%;,6+%

./7 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

B895&4'*?"63)(&4'*&4*53%)9&4*8"59)&"4*"4*9*#9'3*594*23)3%6&43*("G*615(*9))34)&"4* &)*2%9G?=**>8?"*?&453*)(3*?#953*1?3?*?5%"88:*)(3*1##3%*(98;*";*G37#9'3*61?)*5"4)9&4* 988*)(3*5"4)34)*)(3*1?3%*&?*7"142*)"*8""I*9)*5"4?&23%&4'*)(3*#"??&7&8&)$*)(9)*)(3*1?3%* PD\ QRW VFUROO GRZQ DW DOO 7KH ȴUVW S[ VSDFH LV FRQVLGHUHG DV WKH PRVW YLHZHG RQ WKH SDJH DV WKDW LV ZKDW DSSHDUV ȴUVW $OVR WKH FHQWUDO VSDFH RQ D SDJH LV DOVR G(3%3*)(3*69&4*5"4)34)*&?*1?1988$*9##39%?*G(3%3*9?*)(3*83;)*942*%&'()*?&23*?#953?* 594*73*1?32*)"*#"&4)*)"*")(3%*%389)32*5"4)34)=*T(&?*&?*Q1?)*"43*";*)(3*G9$?*&4*G(&5(* )(3*89$"1)*594*73*1?32*)"*23)3%6&43*(&3%9%5($*"4*)(3*G37*?#953=*T(3%3*9*41673%* ";*G9$?*9*89$"1)*&?*1?32*)"*5%39)3*"%*38&6&49)3*(&3%9%5($*"4*9*G37#9'3=

:117%&E%;,6+%

"%'%21

!"8"1%* &?* 94")(3%* <3%$* &6#"%)94)* )""8* )(9)* 23)3%6&43?* ("G* 9* 53%)9&4* )(&4'* &?* #3%53&<32=*!3%)9&4*5"8"1%?*9%3*6"%3*?)%&I&4'*942*59)5(*9))34)&"4=*T(3*1?3*";*5"8"1%* 98?"*3?)978&?(32*53%)9&4*5"4435)&"4?*)(9)*)(3*1?3%*%389)3?*)"*3='=*)(3*5"8"1%?*1?32* E\ D FHUWDLQ EUDQG GHWHUPLQHV WKH UHODWLRQ EHWZHHQ GL΍HUHQW H[WHQVLRQV RI WKH ?963*7%942*942*("G*)(3*1?3%?*%35"8835)*&)=*!"8"1%*594*98?"*73*1?32*)"*(&'(8&'()* 53%)9&4*?35)&"4?*)"*69I3*)(36*6"%3*?)%&I&4'*)(94*")(3%*(3453*5%39)&4'*(&3%9%5($=* $ FHUWDLQ FRORXU SDOHWWH FDQ DOVR GHȴQH DQ H[SHULHQFH DQG IRUP WKH ODQJXDJH RI )(9)*3H#3%&3453=

9*(1;(@&E%;,6+%

S(($7%&E%;,6+%

R0%&'(A#&'(7#&A("1#3-&E%;,6+%

./K !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

!5"7 -0,(+!64?(1-0%$4\B

_453*)(3*)$#&598*#9'3?*G3%3*)("1'()*"1)*&)*G9?*)&63*)"*'3)*233#3%*&4)"*)(3*5"4)34)* ";*395(*";*)(3*?35)&"4?=*F4*)(3*#%"53??*G9?*;"%632*94")(3%*?&)369#:*)(&?*)&63*9*8&))83* 6"%3*23)9&832*G&)(*9*41673%*";*&4?&23*#9'3?*942*)34)9)&<3*)&)83?*;"%*395(*";*)(3* ?35)&"4?=*>)*)(&?*?)9'3:*&)*G9?*98?"*&6#"%)94)*G(&5(*I&42*";*)$#&598*#9'3*)36#89)3?* 5"182*73*1?32*;"%*)(3*#9%)&5189%*#9'3?=

5%+(46!*(

&5849'06#!1,E

&5%E

&5!,E

5%&E

!66'8

aVo*n_FEi

aV_*aJ*>RJ TVJ*ZYFBTF_E>Ro

VFRFE@* BVFY_0_BVo

!_ET>!T

>aJ0_UJ* TJ!VE_Y_@o

BR_XYJU* 0_YSJR0

EJa0R__U

FEAJBJEAJET* TVFE\JR0

FETJRSFJa* VkU_kR

>aJ0_UJ* JSJRoA>o0

XkFYAJR0*>T* VJ>RT

ZFR0T*A>o0*>T* ZYFB\>RT

!>0J*0TkAFJ0

>aJ0_UJ*RJT>FY >aJ0_UJ*0!U >aJ0_UJ*R_YJ0

C6+%"#1&T%*,6(3&U]

./D !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!5"; -0,(+!641(?0(&4+((,0$*

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È´JXUH RXW D ZD\ WR 69I3*&)*6"%3*&4)3%3?)&4'=*T(&?*98?"*6394*'3))&4'*)(3*73?)*";*)(3*?)"%&3?*942*)98I&4'* WR WKH FRUH WHDP DW )OLSNDUW WR GLJ RXW WKH HVVHQFH RI WKH È´UP DQG LWV FXOWXUH DQG #1)*&)*95%"??*&4*94*34'9'&4'*69443%= 6PDOOHU FKDQJHV LQFOXGHG UHÈ´QLQJ WKH WLWOHV XVHG LQ WKH ZHEVLWH WR PDNH WKHP 5839%3%*942*5%39)3*2&%35)*5"4435)&"4?*942*I33#*)(36*)"*)(3*#"&4)= >*?8&'()8$*3H#3%&634)98*&239*G9?*)"*5%39)3*9*?3)*";*)3%6?*942*#(%9?3?*;"%*Z8&#I9%)* 942* 1?3* )(3* 8&4'"* &4* )(3* 5"6614&59)&"4:* ?"63)(&4'* 8&I3* 9* Z8&#)&"49%$* M>* Z8&#I9%)* A&5)&"49%$N= 7KH È´QDO VWUXFWXUH RI WKH FRQWHQW ZDV DOVR GHFLGHG DW WKH HQG RI WKLV UHYLHZ UHDG\ )"*73*3897"%9)32*1#"4=

./J !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

5(+%,&8*("&+0%&,6+%"#1&*%K6%E&"%%+63$&E6+0&B761>#*+

./I !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!5"B 90$!'4-0,(+!6

7DNLQJ LQWR FRQVLGHUDWLRQ WKH SRLQWHUV IURP WKH UHYLHZ D È´QDO VLWHPDS ZDV SXW )"'3)(3%=* F4* )(&?* <3%?&"4* ";* )(3* ?&)369#* 94")(3%* ?35)&"4* "4* ")(3%* &4)3%95)&"4* 383634)?* ?15(* 9?* ("<3%?:* #"#* 1#?:* (&'(8&'()?:* 6"1?3* "<3%?:* 3)5=* T(3?3* G3%3* &4581232*9?*?&23*4")3?*&4*)(3*?&)369#=*0"63*";*)(3?3*?3%<32*9?*)%&''3%?*;"%*5988*)"* 95)&"4*942*98?"*(38#32*38&6&49)3*3H)%9*#9'3?*"4*)(3*G37?&)3=

'!$)0$*46!*( 5%+(46!*(

&5849'06#!1,E

'09(4!,49'06#!1,

6(%6'(

5%&4&(4501(E

*(,40$4,%2"5

aVo*n_FEi

aV_*aJ*>RJ TVJ*ZYFBTF_E>Ro

VFRFE@* BVFY_0_BVo

!_ET>!T

TJ!VE_Y_@o

BR_XYJU* 0_YSJR0

RJT>FY

EJa0R__U

FEAJBJEAJET* TVFE\JR0

FETJRSFJa* VkU_kR

0kBBYo*!V>FE* U>E>@JUJET

>aJ0_UJ* JSJRoA>o0

XkFYAJR0*>T* VJ>RT

!_RB_R>TJ* ZkE!TF_E0

ZFR0T*A>o0*>T* ZYFB\>RT

!>0J*0TkAFJ0

C6+%"#1&T%*,6(3&U^

../ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

n_X*0J>R!V >BBYo

!5"C 2-(146(1-%$!-

Z%"6*)(3*73'&44&4'*";*)(3*#%"Q35)*&)*G9?*[1&)3*5839%*)(9)*)(3*1?3%?*";*)(&?*#9%)&5189%* G37?&)3* G"182* 73* 6"?)8$* #%"?#35)&<3* 5942&29)3?* G("* 9%3* G&88&4'* )"* G"%I* G&)(* Z8&#I9%)*942*;3G*")(3%*")(3%?*G("*G"182*73*&4)3%3?)32*&4*839%4&4'*97"1)*Z8&#I9%)=* +HQFH FUHDWLQJ SHUVRQDV GLGQȇW VHHP YHU\ GLɝFXOW LQ WKLV FDVH &UHDWLQJ XVHU #3%?"49?*G9?*8&I3*'3))&4'*&4)"*)(3*?("3?*";*)(3*1?3%*)"*1423%?)942*)(3*4332?*";* )(3*1?3%=*F)*G9?*98?"*9*6"%3*#3%?"498*G9$*";*1423%?)942&4'*)(3*1?3%*&4)3%95)&"4* 4332?*942*98?"*58"?3%*)"*%398&)$=*>)*3<3%$*?)9'3*&4*)(3*23?&'4*#%"53??*&)*G9?*39?&3%* )"*%3?"8<3*&??13?*7$*)(&4I&4'*;%"6*)(3*#"&4)*";*<&3G*";*)(3*#3%?"49=*F)*34(94532*)(3* 1423%?)942&4'*-;*)(9)*&??13*942*&234)&;$&4'*G(9)*3H95)8$*5"182*73*2"43*)"*%3?"8<3* )(3*&??13=

,5(4!-6010$*4"!$)0)!,(

,5(46%,($,0!'4(+6'%8((

,5(40$,(1(-,()49'06-,(1

_&R0%&E%;,6+%&6,&)3A7%#*&#32&"#>%,& +0%&#1176A#+6(3&1*(A%,,&A(38),63$WG

_R((&")A0&;(*63$&A(3+%3+&+(&*%#2W&!& A#3+&%@#A+7-&)32%*,+#32&E0#+&+0%-& #*%&7((>63$&8(*WG

_!+,&$((2&+(&>3(E&E0#+&6,&$(63$&(3&63& B761>#*+W&=0#+G,&3%EIG

"5!1!",(10-,0"-4!$)4*%!'F4)3%3?)32*&4*G"%I&4'*9)*Z8&#I9%) Y""I&4'*;"%G9%2*)"*839%4&4'*97"1)*Z8&#I9%)*942* &)?*G"%I*518)1%3 Y""I?*;"%G9%2*)"*1423%?)942&4'*)(3*(&%&4'* #%"53??*9)*Z8&#I9%) S&?&)?*)(3*?&)3*)&88*(&%&4'

"5!1!",(10-,0"-4!$)4*%!'a94)?*)"*1423%?)942*)(3*G"%I*518)1%3*";*Z8&#I9%) Y""I&4'*;"%G9%2*)"*1423%?)942&4'*)(3*<9813?*";* )(3*"%'94&?9)&"4*(3f?(3*&?*'"&4'*)"*Q"&4 Y""I?*;"%G9%2*)"*1423%?)942&4'*<9%&"1?* "#3%9)&"4?*9)*Z8&#I9%) S&?&)?*)(3*?&)3*)&88*Q"&4&4'*Z8&#I9%)

"5!1!",(10-,0"-4!$)4*%!'a94)?*)"*I4"G*G(9)*&?*43G Y""I&4'*;"%G9%2*)"*?"63*43G*3<34)?*942*43G? Y""I?*9)*G(9)*43G3%*?)"%&3?*5"182*73*)"82*)"* I33#*)(3*?&)3*1#29)32 S&?&)?*)(3*?&)3*"453*&4*9*G(&83

6!0$46%0$,7KH ZHEVLWH LV XQFOHDU DQG GLɝFXOW WR ȴQG E")*<3%$*9##398&4' A"3?*4")*#%"<&23*34"1'(*&4?&'()*&4)"*)(3*G"%I* 518)1%3*9)*Z8&#I9%) T(3*(&%&4'*#%"53??*&?*<3%$*5"4;1?&4'

6!0$46%0$,T(3*G37?&)3*&?*4")*<3%$*34'9'&4' !"182*73*6"%3*<&?198*&4?)392*";*78"5I?*";*)3H) 'LɝFXOW WR XQGHUVWDQG DV LW LV QRW YHU\ ?)%15)1%32

6!0$46%0$,T(3*G37?&)3*5"182*73*6"%3*34'9'&4'*942* &4)3%95)&<3 !"182*73*6"%3*<&?198*&4?)392*";*78"5I?*";*)3H) E332?*%3?)%15)1%&4'*942*6"%3*9##%"#%&9)3* &4;"%69)&"4

... !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!5"D "%$,($,4,1(!,+($,

B"?)*%3<&3G*)(3*)"43*";*)(3*5"4)34)*G9?*%38""I32*9)=*T(&?*G9?*94*&6#"%)94)*?)3#*&4* )(3*#%"53??*";*71&82&4'*)(3*G37?&)3*9?*)(3*(1694*383634)*G"182*73*5"6614&59)32* )(%"1'(* )(3* 5"4)34)* 942* &)?* )"43=* k48&I3* 6"?)* ")(3%* 59%33%* G37?&)3?:* G(&5(* 1?3* 9* <3%$* ;"%698* 942* &6#3%?"498* )"43* ;"%* )(3* 5"4)34):* &)* G9?* 235&232* 942* ?)%3??32* 1#"4*7$*)(3*58&34)*)(9)*)(3$*G94)32*)(3*5"4)34)*)"*73*#3%?"498*942*&4;"%698=*T(3$* 634)&"432* )(9)* )(3* 1?3%* ?("182* ;338* 5"4435)32* )"* G(9)* &?* 73&4'* ?9&2=* V3453:* &)* ?33632*&4)3%3?)&4'*)"*5"4<3$*988*)(3*5"4)34)*"4*)(3*;"%6*";*?)"%&3?=* 7KLV DSSURDFK DOVR VHHPHG WR UHȵHFW ZHOO ZLWK WKH WKHPH DQG GUDZ D FRQQHFWLRQ WR Z8&#I9%)b?*5"%3*71?&43??=*T(&?*G"182*98?"*69I3*)(3*5"6614&59)&"4*6"%3*#3%?"498* 942* 91)(34)&5=* F)* G9?* 235&232* )"* &4)3%<&3G* 9* ;3G* ?3835)* 36#8"$33?* ";* Z8&#I9%)* )"* GLJ RXW LQWHUHVWLQJ VWRULHV DQG UHZULWH WKHP IRU WKH ZHEVLWH H[SODLQLQJ GL΍HUHQW ?35)&"4* ";* )(3* 5"6#94$=* F4* "%23%* )"* 69I3* )(&?* (9##34* 73'94* 9* 8"4'* )32&"1?* SURFHVV RI LQWHUYLHZV DQG FKDWV ZLWK GL΍HUHQW SHRSOH IURP )OLSNDUW (PSOR\HHV RI Z8&#I9%)*?(9%32*)(3&%*3H#3%&3453?:*3H#3%&3453?*";*("G*)(3$*'")*&4:*("G*)(3$*?"8<32* #%"7836?*942*?"63*8&'()3%*4")3?=*T(&?*;95)"%*92232*)(3*?#&53*)"*)(3*5"4)34)*942* 6923*&)*615(*6"%3*#3%?"498=* J95(*";*)(3?3*?35)&"4?*"4*)(3*G37?&)3*G3%3*G39<32*&4)"*9*?)"%$*98"4'*G&)(*?"63* &4)%"215)"%$* 5"4)34)=* T(3* ?)"%&3?* G3%3* 79?32* "4* %398* 8&;3* 3H#3%&3453?* ";* Z8&#I9%)* HPSOR\HHV \HW PDGH ȴFWLRQDO LQ RUGHU WR PDLQWDLQ DQRQ\PLW\ 2QH RI WKH FKDOOHQJHV ;9532* G(&83* 23<38"#&4'* )(3* 5"4)34)* ;"%* )(3* G37?&)3* G9?* )"* I33#* &)* &4;"%698* $3)* 5"4<3$*)(3*4353??9%$*63??9'3=*F)*G9?*97"1)*?)%&I&4'*9*7989453*&4*)(3*)"43*942*4")* ?"142*)""*&4;"%698*3&)(3%= J95(*";*)(3*?)"%&3?*G34)*)(%"1'(*9*41673%*";*&)3%9)&"4?*)"*95(&3<3*)(3*3H95)*)"43* Z8&#I9%)*5("?3*)"*5"6614&59)3*&4=*T(3*?)"%&3?*G3%3*G%&))34*942*23<38"#32*7$*)G"* 5%39)&<3*G%&)3%?*"4*)(3*)396=

..; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

/F )(-0*$4)(?('%6+($, !7"!##(-.#62*+ !7",##=*2.:2$1.9 !7"5##(2*66.29

..A !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!7"! ,5(4*10)

>*?)9429%2*.^D5"8164*'%&2*G9?*1?32*;"%*)(3*G&%3;%963?*942*;1%)(3%*23<38"#634)* RI WKH ZHESDJHV IURP JULGV 7KH *ULG 6\VWHP LV DQ H΍RUW WR VWUHDPOLQH ZHE GHYHORSPHQW ZRUNȵRZ E\ SURYLGLQJ FRPPRQO\ XVHG GLPHQVLRQV EDVHG RQ 9* G&2)(* ";* C^-* #&H38?=* T(3%3* 9%3* )G"* <9%&94)?K* .,* 942* .^* 5"8164?:* G(&5(* 594* 73* 1?32*?3#9%9)38$*"%*&4*)94236=*T(3*#%36&?3*";*)(3*?$?)36*&?*&23988$*?1&)32*)"*%9#&2* #%")")$#&4':* 71)* &)* G"182* G"%I* 3[1988$* G388* G(34* &4)3'%9)32* &4)"* 9* #%"215)&"4* 34<&%"4634)=* &>@4NK.E >88*6"23%4*6"4&)"%?*?1##"%)*9)*839?)*.-,]*q*P^O*#&H38*%3?"81)&"4=*C^-*&?*2&<&?&783*7$*

DQG 7KLV PDNHV LW D KLJKO\ ȵH[LEOH EDVH QXPEHU WR ZRUN ZLWK +HQFH WKLV IRUPV D KLJKO\ ȵH[LEOH PRGHO WR ZRUN ZLWK DQG JHQHUDWH D ZLGH YDULHW\ RI OD\RXWV 7KH *ULG 6\VWHP LV IUHH WR XVH DQG FDQ EH UHSXUSRVHG WR PHHW WKH VSHFLȴF QHHGV LQFOXGLQJ YHUVLRQV EXLOW WR EH ȵXLG DQG UHVSRQVLYH

R0%&V]&A(7)"3&S*62&E6+0&+0%&1(,,6;7%&E62+0&6+%*#+6(3,

..H !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

R0%&V`&A(7)"3&S*62&E6+0&+0%&1(,,6;7%&E62+0&6+%*#+6(3,

16 columns

Grid system available for free: www.960.gs

R0%&V`&A(7)"3&$*62&,>%+A0&,0%%+

..7 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

9'(G030'0,84%94,5(4*10)

!+%*#+6(3,&63&7#-()+&),63$&+0%&V`&A(7)"3&$*62&,>%+A0&,0%%+

..K !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

!7", &01(91!+(-

T(3*G&%3*;%96&4'*?)9'3*G9?*#9%)&5189%8$*&6#"%)94)*9?*&)*(38#32*&4*235&2&4'*?"63* YHU\ FUXFLDO WKLQJV VXFK DV KRZ PXFK DQG ZKDW KDG WR EH FRPPXQLFDWHG LQ WKH ȴUVW 8""I=*F)*(38#32*&234)&;$*("G*<&?198*"%*)3H)*&4)34?&<3*G(9)*#9%)*";*)(3*G37?&)3*?("182* 73=*A3<38"#&4'*79?&5*G&%3;%963?*%3[1&%32*)(3*95)198*5"4)34)*)"*73*#1)*9?&23*942* 235&23*9*89$"1)*)(9)*G"182*2"*Q1?)&53*)"*)(3*4332?*";*)(3*58&34)*942*)(3*1?3%= >* G&%3;%963* &?* 9* 5%15&98* #9%)* ";* 94$* G37* 23?&'4* #%"Q35)* 942* &?* )(3* 43H)* ?)3#* 9;)3%* 23<38"#&4'* )(3* ?&)3b?* 9%5(&)35)1%3* )(9)* #1)?* &4* #8953* )(3* 79?&5* 5"4)34)* 942* ;145)&"498&)$*";*)(3*?&)3*&4*#8953=*T(&?*&239)&4'*#%"53??*#1)?*9?&23*988*)(3*5"453%4* 97"1)*)(3*8""I*942*;338*942*;"51?3?*#1%38$*"4*)(3*;145)&"498&)$*";*)(3*23?&'4=*T(&?* ?)9'3*&?*5%15&98*&4*?"8<&4'*9*8")*";*)(3*1?3%*&4)3%95)&"4*&??13?*G9$*73;"%3*)(3*<&?198* 23?&'4=

..D !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!7","! '!$)0$*46!*(

631)91)!

T(3*8942&4'*#9'3*G9?*)"*73*<3%$*<&?198*&4* QDWXUH DQG WKH ȴUVW WKLQJ WKH XVHU VDZ F)*(92*)"*5"4)9&4*)(3*?)"%3*9?*G388*9?*)(3* &6#"%)94)*)%&''3%?*)(9)*'1&23?*)(3*1?3%*)"* )(3*<9%&"1?*?35)&"4?*&4*)(3*G37?&)3= T(3*0)"%3 T(3*039%5(*X9% T"#*n"7?*MV&'(8&'()32*035)&"4N T(3*A%"#2"G4*U341 T(3*@9883%$ T(3*A"G8"92?

T(3*E3G?%""6 A33#*Z"")3%

..J !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

>3?(C049>0)F(?029C2:E9!

>:F35)(9B=>32:)031!

-(!1"543!1

2-(14!""%2$,4)(,!0'-

3!$$(14-6!"( 3!$$(14-6!"(

31%&-0$*4 +($2

,5(4-,%1(

50*5'0*5,() -(",0%$-4

50*5'0*5,() -(",0%$-4

31%&-0$*4 +($2

,5(4-,%1( 1("%++($P )!,0%$-

1("%++($)!,0%$-

..I !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

C01:>(L0!5:>(E36@(5=

.;/ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

!7",", 5%+(46!*( >3?(C049>0)F(?029C2:E9!

631)91)!

T(3*("63#9'3*&?*)(3*43H)*69&4*#9'3*9;)3%* )(3*Y942&4'*#9'3*G(&5(*&?*6"%3*23)9&832* 942*#3%?"498&?32*)(94*)(3*8942&4'*#9'3= T(3*("63#9'3*&?*9*8&))83*6"%3*5%"G232* 942*23)9&832*)(94*)(3*8942&4'*#9'3*942*&?* )(3*'"*)"*9'3*;%"6*3<3%$*")(3%*&4?&23*#9'3= T(3*A%"#2"G4*U341 k?3%*>55"14)*03))&4'?

T(3*0)"%3 A3)9&8?*>7"1)*F4?&23*B9'3?

T(3*039%5(*X9% 4XLFN /LQNV WR 6SHFLȴF 8VHU 3URȴOHV R35"663429)&"4?

V&'(8&'()32*035)&"4?

A33#*Z"")3%

.;. !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

>:F35)(9B=>32:)031!

-(!1"543!1

2-(14!""%2$,4)(,!0'-

-(!1"543!1

3!$$(14-6!"(

3!$$(14-6!"(

50*5'0*5,() -(",0%$-4

31%&-0$*4 +($2

2-(14!""%2$,4)(,!0'-

31%&-0$*4 +($2

,5(4-,%1(

,5(4-,%1(

1("%++($P )!,0%$-

50*5'0*5,() -(",0%$-4

.;; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

1("%++($)!,0%$-

C01:>(L0!5:>(E36@(5=

.;A !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!7","5 ,860"!'40$-0)(46!*( >3?(C049>0)F(?029C2:E9!

631)91)!

T(3*)$#&598*&4?&23*#9'3*G9?*)(3*'343%&5* #9'3*;"%*94$*";*)(3*&4?&23*#9'3?*&4*)(3* ZHEVLWH SDJHV PHDQW IRU VSHFLÈ´F VHFWLRQV T(3*)$#&598*&4?&23*#9'3*5"4)9&432*988* )(3*4353??9%$*&4;"%69)&"4*1423%*)(3* %3?#35)&<3*?35)&"4?= T(3*A%"#2"G4*U341 k?3%*>55"14)*03))&4'?

T(3*B9'3*T&)83 B9'3*A3?5%&#)&"4 01669%$ A"G48"92*8&4I*)"*)(3*X""I F4)%"215)&"4 0)"%&3?

Y3;)?&23*U341*G&)(*8&4I?*)"*")(3%*#9'3?* 1423%*)(9)*?35)&"4 T(3*039%5(*X9% R35"663429)&"4?

A33#*Z"")3%

.;H !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

>:F35)(9B=>32:)031!

-(!1"543!1

2-(14!""%2$,4)(,!0'-

6!*(4,0,'(

6!*(4,0,'( 31%&-(

-2++!18 -2++!18

3%%#4 )(,!0'-

3%%#4 )(,!0'-

-(!1"54 3!1 50*5'0*5,() -(",0%$-4

31%&-(

3%)8

2-(14 !""%2$,4 )(,!0'-

3%)8

50*5'0*5,() -(",0%$-4

1("%++($)!,0%$-

.;7 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

C01:>(L0!5:>(E36@(5=

.;K !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

!7","7 "%$,!",46!*( >3?(C049>0)F(?029C2:E9!

631)91)!

T(3*5"4)95)*#9'3*&?*9*79?&5*;"%6*;"%* )(3*1?3%*)"*'343%9)3*9*29)979?3*";* 1?3%?*)(9)*988"G?*)(3*1?3%*)"*'3)*&4* )"15(*G&)(*Z&#I9%)*942*98?"*2"G48"92* ?"63*";*)(3*5"4)34)*;%338$*9<9&89783*"4* )(3*G37?&)3= T(3*A%"#2"G4*U341 B9'3*T&)83 B9'3*A3?5%&#)&"4 k?3%*A3)9&8?*Z"%6 Y3;)?&23*6341*)"*")(3%*?35)&"4?

R35"663429)&"4? r1&5I*Y&4I*)"*A"G48"92?*035)&"4 k?3%*>55"14)*03))&4'?

.;D !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

>:F35)(9B=>32:)031!

6!*(4,0,'(

6!*(4,0,'(

31%&-(

-(!1"54 3!1

-(!1"543!1

2-(14!""%2$,4 )(,!0'-

31%&-(

3%)8

2-(14 !""%2$,4 )(,!0'-

3%)8 1("%++($P )!,0%$-

50*5'0*5,() -(",0%$-4

1("%++($)!,0%$-

.;J !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

50*5'0*5,() -(",0%$-4

50*5'0*5,() -(",0%$-4

C01:>(L0!5:>(E36@(5=

.;I !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!7","; -2++!1846!*( >3?(C049>0)F(?029C2:E9!

631)91)!

T(3*?1669%$*#9'3*&?*)(3*Q&?)* ";*988*)(3*?17*?35)&"4?*1423%* 395(*?35)&"4=*F)*#%"<&23?*9* 2&?#89$*&69'3:*#9'3*23)9&8?:* 942*9*?("%)*?1669%$*";*)(3* %3?#35)&<3*?17*?35)&"4?= T(3*A%"#2"G4*U341 B9'3*T&)83 B9'3*A3?5%&#)&"4 01669%$*7"H3?*";*%3?#35)&<3* ?17?35)&"4?

R35"663429)&"4?

Y3;)?&23*U341 A33#*Z"")3%

.A/ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

>:F35)(9B=>32:)031!

6!*(4,0,'(

31%&-(

6!*(4,0,'(

-(!1"54 3!1

31%&-(

-(!1"543!1

2-(14 !""%2$,4 )(,!0'-

3%)8 3%)8 1("%++($P )!,0%$-

2-(14 !""%2$,4 )(,!0'-

50*5'0*5,() -(",0%$-4

.A. !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

50*5'0*5,() -(",0%$-4

50*5'0*5,() -(",0%$-4

C01:>(L0!5:>(E36@(5=

.A; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

!7","B 7%34-(!1"546!*( >3?(C049>0)F(?029C2:E9!

631)91)!

T(3*Q"7*?39%5(*#9'3*&?*94* LQWHUDFWLRQ VSHFLÈ´F SDJH G(&5(*988"G?*)(3*1?3%*)"*8""I* ;"%*9*Q"7*73?)*?1&)32*;"%*(&?f (3%*4332?=* T(3*#9'3*&458123?*9*41673%* RI XVHU GHWDLOV È´OWHUV DQG D ;332*";*)(3*?39%5(*%3?18)?:* G&)(*)%&''3%?*)"*9##8$*;"%*)(3* Q"7= T(3*A%"#2"G4*U341 k?3%*>55"14)*A3)9&8?

T(3*039%5(*X9% T(3*n"7*039%5(*Z"%6 Z332*";*039%5(*R3?18)?

Y3;)?&23*U341 R35""63429)&"4?

A33#*Z"")3%

.AA !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

>:F35)(9B=>32:)031!

6!*(4,0,'(

6!*(4,0,'(

2-(14 !""%2$,4 )(,!0'31%&-(

3%)8

31%&-(

-(!1"543!1

1("%++($P )!,0%$-

50*5'0*5,() -(",0%$-4

2-(14 )(,!0'-4 9%1+

2-(14!""%2$,4 )(,!0'-

-(!1"543!1

3%)8 50*5'0*5,() -(",0%$-4

1("%++($)!,0%$-

.AH !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

2-(14 )(,!0'-4 9%1+

C01:>(L0!5:>(E36@(5=

.A7 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!7"5 ,5(4,10**(1-

ΖQ KLV ERRN 0LFURLQWHUDFWLRQV 'DQ 6D΍HUV WDONV DERXW WULJJHUV ZKLFK DUH WKH ?)9%)&4'* 942* &4&)&9)&4'* #"&4)* ;"%* 94$* 6&5%"&4)3%95)&"4=* >* 6&5%"&4)3%95)&"4* 594* 73* GHȴQHG DV D VLQJXODU RU OLQHDU FKDLQ RI DFWLRQV D XVHU HQJDJHV LQ D FRPSOH[ ZHE 79?32*9##8&59)&"4*?15(*9?*9*G37?&)3*"%*94*9##=* 7ULJJHUV DUH WKH VWDUWLQJ SRLQWV IRU WKHVH DFWLRQV DQG FDE RI GL΍HUHQW NLQGV $ )%&''3%* * &4&)&9)3?* )(3* ?963* 95)&"4* 3<3%$* )&63=* T%&''3%?* 594* 73* 5%39)32* 7$* #895&4'* 9##%"#%&9)3*5813?*;"%*694198*1?3*"%**7$*7%&4'&4'*)(3*%&'()*96"14)*";*29)9*;"%G9%2* )(9)* &?* 43?)32* &4* )(3* 6&5%"&4)3%95)&"4=* X38"G* 9%3* 9* ;3G* )%&''3%?* )(9)* (9<3* 7334* 1?32*&4*)(3*G37?&)3*;"%*14&4)3%%1#)32*6&5%"&4)3%95)&"4?*)"*5%39)3*9*?39683??*1?3%* 3H#3%&3453=

,5(4-(!1"543!1

)%&$'%!)432,,%$

T(3*?39%5(*79%*&?*8&439%*6&5%"&4)3%95)&"4*)(9)* KHOSV WKH XVHU ORRN IRU D VSHFLȴF MRE XVLQJ D I3$G"%2*?39%5(=*

T(3*2"G4*8"92*71))"4*&?*9*?&4'189%* 6&5%"&4)3%95)&"4*)(9)*&?*)%&''3%32*7$*)(3* 2"G48"92*71))"4=*T(&?*95)&"4*988"G?*)(3* 1?3%*)"*2"G48"92*94$*;%33*29)9*9<9&89783*9?* d2"G48"92?b*"4*)(3*G37?&)3=

T(3*)%&''3%*;"%*)(&?*95)&"4*&?*)(3*?39%5(*79%* &)?38;*G(&5(*&?*6"%3*#%"6&434)*"4*)(3*("63* #9'3*71)*98?"*95553??&783*;%"6*94$*";*)(3* &4?&23*#9'3?*&4*)(3*G37?&)3=

.AK !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

T(3*2"G48"92*71))"4*)%&''3%*8392?*)"*9*?&6#83* ;"%6*;"%*)(3*43G*1?3%*)"*'343%9)3*9*1?3%* 29)979?3=

1("%++($)!,0%$-

50*5'0*5,()4-(",0%$-

T(3* %35"663429)&"4?* ?35)&"4* 9)* )(3* 7"))"4* ";*3<3%$*#9'3*&?*94")(3%*&4?)9453*";*9*?&4'189%* 6&5%"&4)3%95)&"4* )(9)* &4&)&9)3?* 94* "#)&"498* 95)&"4*7$*)(3*1?3%=

T(3* (&'(8&'()32* ?35)&"4?* 9%3* ?#35&98* ?3)* ";* 6&5%"&4)3%95)&"4?* G(&5(* 9%3* 6394)* )"* 73* )%&''3%32* 7$* 9* ?&4'189%* 95)&"4?=* T(3?3* G"%I* "4* )(3* #%&45&#83* ";* d7%&4'* )(3* 29)9* ;"%G9%2b* 942* 9%3* 9* ?439I* #39I* &4)"* )(3* %3?#35)&<3* 6&5%"&4)3%95)"4=

T(3* &4)3%95)&"4* &?* )%&''3%32* 7$* 9* ?&4'83* 58&5I* )(9)* )(34* 8392?* )"* )(3* %3?#35)&<3* ?35)&"4* "%* ?17* ?35)&"4* 9?* #3%* )(3* 1?3%b?* 5("&53=* T(&?* 6&5%"*&4)3%95)&"4*&?*23?&'432*)"*(38#*)(3*1?3%* 2&?5"<3%*)(3*")(3%*?35)&"4?*"4*)(3*G37?&)3=

.AD !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

T(3?3*9%3*6394)*)"*73*%36&423%?*";*94$* VSHFLDO R΍HULQJV RQ WKH ZHEVLWH DQG OHDG WR WKH VSHFLȴF VHFWLRQ RU VXEVHFWLRQ LW EHORQJV )"=

/I )(?('%6(1]-4($) !;"!##-$)+*)6#&<.2#(&#(-.#+.<.0&/.29 !;",##4&)(.)(#1$)$6.1$)(#989(.1#M419N !;"5#=.%#4&)(.)(#1$)$6.1.)(#989(.1 !;"7##(-.#:*)$0#=$0@#(-2&'6-

.AJ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

!;"!

5!$)0$*4%?(14,%4,5(4)(?('%6(1-

2QFH WKH GHVLJQV KDG EHHQ È´QDOLVHG DQG WKH SDJHV ZHUH GHWDLOHG RXW D PHHWLQJ G9?*?3)*1#*G&)(*)(3*23<38"#&4'*)396*)"*2&?51??*)(3*4332?*942*%3[1&%3634)?*;%"6* )(3&%*342*942*3H#89&432*)"*)(36*("G*)(3*?&)3*(92*7334*<&?198&?32*)"*73= F)*G9?*235&232*)(9)*)(&?*G"182*73*94*&)3%9)&<3*#%"53??*14)&8*)(3*G37?&)3*G"182*'"* OLYH +DYLQJ È´QLVKHG WKH EDVLF SDJHV LW ZDV VHQW IRU FRGLQJ ZKLFK ZRXOG EH GRQH 1?&4'* 9* 5"4)34)* 6949'3634)* ?$?)36* 7$* a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Î&#x2013; DOVR OHDUQW DQG WULHG WR È´JXUH RXW WKH &66 8"'&5:*G(&5(*6923*&)*39?&3%*)"*69I3*942*?1''3?)*5(94'3?=*F)*G9?*9*<3%$*(38#;18*&4?&'()* &4)"*("G*G37?&)3*&?*6923=*F*G9?*%3[1&%32*)"*G"%I*<3%$*58"?38$*G&)(*)(3*23<38"#&4'* WHDP WR PDNH VXUH WKH YLVXDOLVDWLRQV PDWFKHG WKH È´QDO H[HFXWHG GHVLJQV

.AI !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

:&7#;%7%2&/C9&,%3+&8(*&*%8%*%3A%

.H/ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

:&/9B&,%3+&+(&+0%&2%K%7(1%*&"%3+6(363$&#77&+0%&A0#3$%,&2)*63$&+0%&2%K%7(1"%3+&1*(A%,,

D#67,&,%3+&+(&+0%&2%K%7(163$&+%#"&2%,A*6;63$&A0#3$%,&2)*63$&+0%&2%K%7(1"%3+&(8&+0%&E%;,6+%

.H. !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!;", "%$,($,4+!$!*(+($,4-8-,(+4 ^"+-_

>* !"4)34)* U949'3634)* 0$?)36* M!U0N* &?* 9* 5"6#1)3%* #%"'%96* )(9)* 988"G?* #178&?(&4':*32&)&4'*942*6"2&;$&4'*5"4)34)*9?*G388*9?*69&4)349453*;%"6*9*534)%98* &4)3%;953=* 015(* ?$?)36?* ";* 5"4)34)* 6949'3634)* #%"<&23* #%"5321%3?* )"* 6949'3* ZRUNȵRZ LQ D FROODERUDWLYH HQYLURQPHQW 7KHVH SURFHGXUHV FDQ EH PDQXDO VWHSV "%*94*91)"69)32*59?5923=*!U0?*(9<3*7334*9<9&89783*?&453*)(3*89)3*.CC-?= !U0?*9%3*";)34*1?32*)"*%14*G37?&)3?*5"4)9&4&4'*78"'?:*43G?:*942*?("##&4'=*U94$* 5"%#"%9)3*942*69%I3)&4'*G37?&)3?*1?3*!U0?=*!U0?*)$#&5988$*9&6*)"*9<"&2*)(3*4332* IRU KDQG FRGLQJ EXW PD\ VXSSRUW LW IRU VSHFLȴF HOHPHQWV RU HQWLUH SDJHV 7KH FRUH ;145)&"4* 942* 1?3* ";* 5"4)34)* 6949'3634)* ?$?)36?* &?* )"* #%3?34)* &4;"%69)&"4* "4* G37?&)3?=

!;"5 &(34"%$,($,4 +!$!*(+($,4-8-,(+

>* G37* 5"4)34)* 6949'3634)* ?$?)36* MG37* !U0N* &?* 9* 7142832* "%* ?)942D98"43* 9##8&59)&"4* )"* 5%39)3:* 6949'3:* ?)"%3* 942* 23#8"$* 5"4)34)* "4* a37* #9'3?=* a37* 5"4)34)*&458123?*)3H)*942*36732232*'%9#(&5?:*#(")"?:*<&23":*912&":*942*5"23*M3='=:* ;"%*9##8&59)&"4?N*)(9)*2&?#89$?*5"4)34)*"%*&4)3%95)?*G&)(*)(3*1?3%=*a37*!U0?*1?1988$* DOORZ FOLHQW FRQWURO RYHU +70/ EDVHG FRQWHQW È´OHV GRFXPHQWV DQG ZHE KRVWLQJ #894?*79?32*"4*)(3*?$?)36*23#)(*942*)(3*4&5(3*&)*?3%<3?=

.H; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

R0%&;#A><%32&2#,0;(#*2&(8&+0%&E%;,6+%&Y'DC[

.HA !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!;"7 ,5(4&!'#4,51%2*5 '!$)0$*46!*( >*[1&5I*I3$G"%2*3497832* ?39%5(*)"*?39%5(*;"%*Q"7?= >*6341*)"*8392*)"*6"?)* <&?&)32*#9'3?*"4*)(3*G37?&)3=

A%"#2"G4*6341*)"*8""I*9)* 988*)(3*?17*?35)&"4?*"4*)(3* G37?&)3 k?3%*955"14)*8"'&4*G&)(*94* "#)&"4*)"*?&'4*&4*&;*)(3*1?3%* 2"3?4)*(9<3*94*955"14)= >*#"#*1#*"4*6"1?3*"<3%* G&)(*23?5%&#)&"4?*";*395(* ?35)&"4=

V&'(8&'()32*?35)&"4?*G(&5(* ?3%<3*9?*[1&5I*8&4I?=

0#35&98*;39)1%3?*"4*?35)&"4?* )(9)*5"182*&4)3%3?)*)(3*1?3%=

A33#*Z"")3%

`` 7KH ȴUVW SDJH WKH XVHU ODQGV RQ

.HH !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

5%+(46!*( k?3*955"14)*23)9&8?* 942*?3))&4'?*98"4'*G&)(* QRWLȴFDWLRQV IRU DQ\ QHZ 63??9'3?*%3'9%2&4'*Q"7* ?39%5(3?=

``

T(3*8942&4'*#9'3*)1%4?*)"*)(3*("63#9'3*9;)3%*)(3*1?3%*?&'4?*&4=

.H7 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

,860"!'40$-0)(46!*(

k?3%*955"14)*23)9&8?

B9'3*A3?5%&#)&"4 01669%$*";*)(3*?17*?35)&"4

>4*"#)&"4*)"*2"G48"92* )(3*7""I*G&)(*988*)(3* &4;"%69)&"4*97"1)*)(3* %3?#35)&<3*?17*?35)&"4

F4)%"215)&"4*)"*)(3*?)"%&3?

J6732232*<&?198?f&4;"'%9#(&5? >*%392*6"%3*"#)&"4*G(&5(* 1?3?*94*955"%2&94

R35"663429)&"4?*)"* ")(3%*?35)&"4?*)"*(38#* )(3*1?3%*2&?5"<3%*6"%3* 97"1)*Z8&#I9%)

`` T(3*&4?&23*#9'3*5"4)9&4?*988*)(3*&4;"%69)&"4*";*)(3*?17?35)&"4* G&)(*36#8"$33*?)"%&3?*G39<32*&4)"*)(3*7"2$*5"4)34)=

.HK !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

"%$,!",46!*( k?3%*955"14)*23)9&8?

r1&5I*8&4I*)"*)(3* 36#8"$33*78"'

\3$G"%2*?39%5(*)"* ?39%5(*Q"7?

k?3%*23)9&8?*;"%6

`` T(3*5"4)95)*#9'3*G(&5(*98?"*9&2?*8392*'343%9)&"4* 942*&?*1?32*)"*'343%9)3*9*1?3%*29)979?3=

.HD !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

-2++!1846!*( k?3%*955"14)*23)9&8?

T%&''3%*)"*2"G48"92*JD7""I?* ";*)(3*%3?#35)&<3*?17?35)&"4=

01669%$*";*9*?17?35)&"4

`` T(3*?1669%$*#9'3*#%"<&23?*9*7%&3;*?1669%$*";*)(3*?17?35)&"4?*1423%*)(3* #9%)&5189%*?35)&"4*G&)(*94*"#)&"4*)"*2"G48"92*94*JD7""I*";*)(3*?17?35)&"4=

.HJ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

7%34-(!1"546!*( k?3%*955"14)*23)9&8?

>2<94532*?39%5(* 3497832*7$*I3$G"%2?

>*?#35&98*?35)&"4*)(9)* 2&?#89$?*)(3*#9?)*?9<32* Q"7*?39%5(3?

>4*955"%2&94*";*?39%5(* %3?18)?

`` T(3*Q"7*?39%5(*(38#?*)(3*#")34)&98*5942&29)3*?39%5(*;"%*9*Q"7* 955"%2&4'*)"*(&?f(3%*4332?*1?&4'*)(3*92<94532*?39%5(=

.HI !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

`` 'L΍HUHQW LQWHUDFWLRQ PDSSHG IURP WKH ("63*#9'3*)"*)(3*%3?#35)&<3*#9'3?=

.7/ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

/K ,5(49'06#!1,4(G6(10($"( !B"!##(-.#-*2*)6#/2&4.99 !B",##(-.#=.%#&:#(-*)69 !B"5##=&2@*)6#*)#/$2$00.0 !B"7##$#:.=#-$0:#%$@.+#*+.$9 !B";##(-.#$:(.29(&28

.7. !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!B"! ,5(45010$*461%"(--

T(3*(&%&4'*#%"53??*9)*Z8&#I9%)*&?*9*8"4'*942*5"6#83H*"43=*_43*";*)(3*69&4*"7Q35)&<3?* ";*)(&?*#%"Q35)*&?*)"*?&6#8&;$*)(9)*;"%*)(3*1?3%=*T(3*#%"53??*?)%3)5(3?*"<3%*9*#3%&"2*";* 9##%"H&69)38$*,*6"4)(?*)(9)*&4<"8<3?*9*?3%&3?*";*34'9'3634)*#"&4)?=* *F)*)""I*9*8"4'*)&63*)"*5"6#83)38$*1423%?)942*)(3*#%"53??*9?*&)*&4<"8<32*[1&)3*9*;3G* WHFKQLFDOLWLHV Î&#x2013;Q RUGHU WR VLPSOLI\ WKH SURFHVV LW ZDV FUXFLDO WR È´UVW XQGHUVWDQG LW "%'94&?3*&)*&4)"*?)3#?*942*)(34*89$*&)*2"G4*&4*9*?&6#83*69443%= T(3* #%"Q35)* 98?"* %3[1&%32* )"* 8""I* 9)* )(3* (&%&4'* #%"53??* ;%"6* 7")(* 342?D* )(3* #")34)&98*5942&29)3*9?*G388*9?*Z8&#I9%)=*T(&?*#%"53??*G9?*9*8"4'*942*)32&"1?*"43*942* ?&6#8&;$&4'*&)*G"182*)9I3*9*8")*";*)&63=*F*G9?*9783*)"*73*9*#9%)*";*)(3*&239)&"4*#%"53??* ;"%*)(&?*942*(38#32*&234)&;$*)(3*'8&)5(3?*942*#%"7836*9%39?*&4*)(3*#%"53??*942*2%9G* "1)*9*;3G*&239?*;"%*("G*)(&?*5"182*73*%3?"8<32=*k4;"%)149)38$:*T(3*5"6#83)3*%"88*"1)* ";*)(3*&239)&"4*G9?*#%"8"4'32*942*2&2*4")**)9I3*#8953*&4*6$*)341%3*9)*R3W"494)=

.7; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

.7A !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

1 ENGAGEMENT TA engages with the offered candidate

Share public references to Flipkart - business and technology

2

3

HELLO

CONNECT UP

4 INTERNAL MAIL

Buddy connect

TA introduces the new hire to HRBP and Buddy via mail.

WELCOME

TA team sends flowers & welcome gift

HRBP informally (mail or phone) connects with the new joinee

TA team sends internal mail on new hires for upcoming week

Optional invites to attend "All Hands" or "T-Break" sessions.

Joinee receives mail from TA with joining details

MAIL TO JOINEE

5

ACCOUNTS & MATERIALS IT Team configures Laptop as per the role; creates the required Accounts & grant privileges as per the role

SEAT ALLOCATION Admin team syncs up with respective Managers and assigns a seat to the new employees

WELCOME MAIL

READINESS

HRBP sends out a welcome mail to the employee

6

ARRIVAL & WELCOME Employee arrival at 11 AM at VS. Representative of HRSS welcomes the employee

HRBP checkpoints on readiness

FORMALITIES HRSS team takes the employee through the required joining formalities BGV, collection of documents, signing of joining forms like Employee Information form, PF, Gratuity, NDA, Appointmnet Order) handing over employment letter, IT team hands over the laptop

WELCOME KIT

INTRODUCTIONS

HRBP connects with the new hire post joining formalities and hands over the welcome kit

Concerned HRBP introduces employee to the team manager and the assigned buddy

COMPLETION INTIMATION HRSS representative informs the concerned HRBP on completion of formalities

FLIPKART ON-BOARDING PROCESS

9

QUATERLY CHECK POINTS

7

8

Lunch with the Manager; Manager introduces employee to the team

LEARNING Learning Process as per the role Orientation and Foundation building on each of the streams: Engineering, Business and Organization Culture / Virtues

FEEDBACK Formal feedback on the initial growth aspects of the individual

On the job exposure to each of the facets involved with the role

Formal feedback on organisational/manager/pee r support in being effective

CONTINUED LEARNING

Longer time growth and development plan based on the assessment

Interim assessment and informal feedback on the initial learning / growth aspects Re-aligning expectations set at the time of hiring

.7H !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

INTO THE TEAM

Establish a working relationship with the relevant stakeholders Formal tech induction followed by facility visits Meet the leaders(Applicable for Senior Managers)

!B", ,5(4&(34%94,50$*-

%HORZ LV D JOLPSVH RI WKH Č´UVW DWWHPSW WR VLPSOLI\ WKH FRPSOH[ KLULQJ SURFHVV ;"88"G32*9)*Z8&#I9%)=*T(3*69&4*;"51?*";*2%9G&4'*"1)*)(&?*69#*G9?*)"*&234)&;$*)(3* 4332?*942*23)9&8?*";*95)&"4?*9)*3<3%$*?)3#*&4*)(3*#%"53??=

Emailer

Interview accepted

Phone screen

Goodies Posters

Campus

Emailers

Follow-up

Emailer

Placement o cer material

Emailer

Face-to-face

Schedule of the day

Interview

Interview room graphics O ce graphics

Interview rejected

Events

O ,! +',) $ 1 +

Video Posters

Feedback forms Job Fairs

Theme introduction

Video

O er

Lead generation

Emailers

Congratulation email Check-list of documents Gift

Website

Call-to-action Video - inside stories Print

Recruitment marketing

Email from Flipkart buddy

Flipkart Employee Experience

Pre-joining

Employee handbook - soft copy eGoodies kit Joining schedule Warm-up email - 2 days before

Social

Thank you gift

*# 1

Exit

Alumni

Day 1

Email signature Organization map

Engagement

On-boarding

Welcome email Check-list

Celebrating events Employee referral program

Day 2

CSR Induction PPT

Induction

Video - inside stories Video - great performers at Flipkart Flipbook - Builder's diary

Tips to succeed at Flipkart session by mentor Flipkart merchandise gift Flipkart merchandise buy

Culture video

.77 !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

Badge / shoulder label

Day 3

Pre-induction material Questions form

!B"5 &%1#0$*40$46!1!''('

V9<&4'*8""I32*9)*)(3**<9%&"1?*?)3#?*&4<"8<32:*94")(3%*6"238*G9?*5%39)32*)"*&234)&;$* )(3* 23?&'4* &4)3%<34)&"4?* 942* 632&16?* ";* 5"6614&59)&"4* &4<"8<32* &4* 395(* ?)3#=* 2QFH WKHVH ZHUH LGHQWLÈ´HG WKH\ FRXOG EH ORRNHG DW FORVHO\ DQG GHVLJQHG WR DGG )"*)(3*"<3%988*3H#3%&3453=*X1)*&234)&;$&4'*)(36*G9?*9*<3%$*5%15&98*?)3#=

.7K !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

!B"7 !49(&45!'943!#()40)(!-

.7D !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

>* #9%)* ";* )(3* &4215)&"4* #%"53??* )(9)* G9?* 58"?38$* ?)12&32* G9?* )(3* "4D7"9%2&4'* #%"53??*M)(3*"%&34)9)&"4*#%"53??*9;)3%*)(3*5942&29)3*Q"&4?*Z8&#I9%)N=**T(&?*?)3#*G9?* <3%$*23)9&832*942*(92*53%)9&4*%3[1&%3634)?*)(9)*G3%3*5%15&98*)"*Z8&#I9%)*942*5"182* QRW EH DOWHUHG +HQFH LW ZDV LPSRUWDQW WR È´JXUH ZKDW ZHUH WKH DGG RQV LQ WHUPV RI 23?&'4*)(9)*G"182*69I3*)(3?3*?)3#?*6"%3*1?3%*;%&3428$=

!B";

,5(44!9,(1-,%18

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È´UVW GHOLYHUDEOH D WHVW LQVWDQFH RI WKH ZHEVLWH ZDV FUHDWHG ZKLFK ZRXOG )(34*73*89145(32*"4*9*#9%)&5189%*2"69&4*?#953=*T(&?*)3?)*&4?)9453*988"G32*9*8")*";* ;332795I*;%"6*Z8&#I9%)*942*G9?*?5%33432*)(%"1'(*9*41673%*";*#3"#83*9)*Z8&#I9%)* &45812&4'*)(3*;"1423%?*";*Z8&#I9%)= T(3* ")(3%* 5"889)3%98?* G3%3* &239)32* 1#"4* 942* 23<38"#32* "43* 7$* "43* )"* 5%39)3* 9* 5"6#83)3*23?&'432*3H#3%&3453*;"%*9*#")34)&98*5942&29)3=

.7J !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

/L ,5(4'!-,4&%1) !C"!##(-.#.)+#)&(. !C",##4&)40'9*&)#$)+#0.$2)*)6 !C",5##2.9&'24.9

.7I !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!C"! ,5(4($)4$%,(

V9<&4'*G"%I32*"4*9*#%"Q35)*";*)(&?*?5983*'9<3*63*9*8")*";*#3%?#35)&<3*"4*("G*)(3* %398*G"%82*2398?*G&)(*95)198*#%"Q35)?=*F)*(38#32*63*)"*8""I*9)*23)9&8?*9?*G388*9?*)(3* 7&''3%* #&5)1%3* 988* 9)* "453=* T(&?* 98?"* (38#32* 63* )"* 9##8$* 6$* 839%4&4'* 942* ?33* ;"%* P\VHOI KRZ WKH\ ZRXOG UHȵHFW LQ D SURIHVVLRQDO HQYLURQPHQW ΖW KHOSHG PH OHDUQ )(&4'?*97"1)*6$?38;:*?15(*9?*("G*F*G"182*%395)*)"*#%3??1%3*942*)91'()*63*G9$?*)"* 5"#3*G&)(*&)= (YHQ WKRXJK WKLV SURMHFW IDOOV XQGHU WKH XPEUHOOD RI EUDQGLQJ LW ZDV D YHU\ GL΍HUHQW 7%942&4'* 3H#3%&3453=* F4* ;95)* F* G"182* 5817* &)* G&)(* 3H#3%&3453* 23?&'4=* T(&?* #%"Q35)* &4<"8<32*8""I&4'*9)*618)&#83*1?3%?*942*)(3&%*4332?*942*98?"*23?&'4&4'*9*?$?)36*)"* (&%3*#3"#83*942*5"6;"%)*)(36*)(%"1'(*&)=* 2QH RI P\ ȴUVW OHDUQLQJ LQ WKLV SURMHFW ZDV DERXW WKH (FRPPHUFH LQGXVWU\ LQ ΖQGLD F)*)""I*9*8")*";*%3?39%5(*)"*1423%?)942*)(3*79?&5?*";*("G*)(&?*&421?)%$*;145)&"432* 942*("G*)(9)*G"182*34(9453*6$*&4#1)?*;"%*)(3*58&34):*G(&5(*2398)*G&)(*)(&?*&421?)%$=* F)*98?"*(38#32*63*9498$?3*)(3*5"6#3)&)"%?*942*)(3&%*?)%9)3'&3?= /RRNLQJ DW WKH ELJJHU SLFWXUH ZDV D FUXFLDO WR WKLV SURMHFW ZKLFK UHȴQHG P\ VNLOOV ";*1423%?)942&4'*942*5"4?&23%&4'*618)&#83*9?#35)?*G(&83*23?&'4&4'*9*G("83?"63* 3H#3%&3453=*0&453*)(3*34)&%3*?#94*";*)(&?*#%"Q35)*G9?*?"*<9?):*&)*G"182*73*3??34)&98* )"*"559?&"4988$*8""I*9)*("G*3<3%$)(&4'*G9?*73&4'*G39<32*)"'3)(3%*;"%*9*?39683??* $3)*34'9'&4'*3H#3%&3453= 0&453*)(3*#%"Q35)*G9?*9*8&<3*"43:*&4&)&988$*F*(92*9*)"1'(*)&63*)"*929#)*)"*)(3*#953* 9)*G(&5(*)(&4'?*G"182*73*2"43=*X1)*&)*G9?*9*<3%$*34%&5(&4'*3H#3%&3453*&4*839%4&4'* )(3*G9$?*";*)(3*#%";3??&"498*G"%82=*T(&?*98?"*'9<3*63*9*5(9453*)"*&4)3%95)*G&)(*)(3* 58&34)*"4*9*%3'189%*79?&?=* /DVWO\ ZRUNLQJ ZLWK D WHDP WKRXJK LQLWLDOO\ GLɝFXOW ZDV D YHU\ LQWHUHVWLQJ 3H#3%&3453=* F)* '9<3* 63* )(3* "##"%)14&)$* )"* '9&4* 618)&#83* #3%?#35)&<3?* "4* 94* &239* 942*98?"*5"4215)*'%"1#*2&?51??&"4?*942*7%9&4?)"%6?*)(9)*(38#32*?(9#3*)(3*5"1%?3* RI WKLV SURMHFW (DFK PHPEHU LQ WKH WHDP SOD\HG D YLWDO UROH LQ GL΍HUHQW DVSHFWV RI )(3*#%"Q35)=

.K/ !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

!C", "%$"'2-0%$4H4'(!1$0$*

T(3%3*G3%3*9*41673%*";*1#?*942*2"G4?*F*2398)*G&)(*21%&4'*)(&?*#%"Q35)=*A398&4'* G&)(*9*#%"Q35)*";*?15(*89%'3*?5"#3*6923*63*?)%"4'3%*942*6"%3*%3?&?)94)*)"G9%2?* #94&5I&4'*9)*)(3*?8&'()3?)*#%"7836=*F*%398&W32*)(9)*73&4'*5"6#83)38$*&4<"8<32*&4*)(3* #%"Q35)*G9?*)(3*?"18*%39?"4*";*&)?*?1553??=* T(3*?5"#3*";*)(&?*#%"Q35)*;988?*1423%*9*6&H32*59)3'"%$*";*2"69&4*)(9)*&458123*7%942* )(&4I&4'*942*23<38"#634):*3H#3%&3453*23?&'4*942*G37?&)3*942*&4)3%95)&"4*23?&'4=* n1''8&4'*9%"142*G&)(*?15(*9*G&23*%94'3*";*9##%"95(3?*G9?*)"1'(*942*5(98834'&4'=* T(&?* 98?"* 6923* )(3* %3?39%5(* 942* 795I'%"142* ?)12&3?* <3%$* &4* 23#)(* 942* G&23=* Y""I&4'*)(3*7&''3%*#&5)1%3*G9?*?"63)(&4'*)(9)*)(&?*#%"Q35)*&4?)&8832*&4*63=* 6LQFH WKLV ZDV RQH RI WKH È´UVW LQWHQVH ZHEVLWH GHVLJQ H[HUFLVHV Î&#x2013; GLG LW WRRN PH 9*G(&83*)"*2"*)(3*4353??9%$*?)12$*942*%3?39%5(*942*("43*6$*?I&88?*;"%*23?&'4&4'* ;"%*)(3*2&'&)98*?#953=*T(3*632&16*G9?*9*)""8*;"%*)(3*<9%&"1?*23?&'4*?"81)&"4?*942* LQWHUYHQWLRQV WKDW Î&#x2013; LGHQWLÈ´HG DQG GHVLJQHG LQ WKH RYHUDOO H[SHULHQFH

.K. !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112

!C"5 1(-%21"(1(!)0$*-

0LFURLQWHUDFWLRQV E\ 'DQ 6D΍HU k?3%*JH#3%&3453*942*JH#3%&3453*A3?&'4*7$*U9%5*V9??34W9(8 !"4)3H)198*A3?&'4*7$*\9%34*V"8)W789))*942*V1'(*R=*X3$3% F4)3%95)&"4*A3?&'4*7$*n"49?*Y"G'%34 Z1429634)98?*";*JH#3%&3453*A3?&'4*7$*0)3#(34*B*>423%?"4? a(9)*&?*X%942&4'i*X$*U9)(3G*V9383$ T(3*X%942*V9427""I*7$*a988$*_88&4?

X%942*T(&4I&4'*7$*A377&3*U&886944 XX!*@8"798*JH#3%&3453*Y94'19'3

&(3'0%*1!658

963EE9269(29!9:26< ())#Kff5%&?#&4D#"%)3%D7"'1?I$D36#"$33D(9427""If ())#KffGGG='""'83=5"6f;"4)?f?#35&634f_#34s094? ())#KffGGG=('?&4)3%95)&<3=5"6f78"'f2&'&)98D69%I3)&4'f51%%34)D)%342?D942D;1)1%3D";D3D5"663%53D&4D&42&9 ())#KffGGG=&4;"%69)&"4G33I=&4f?";)G9%3f./D-]D.Of'%"G)(t942t#%"'%3??&"4t";t3D5"663%53t&4t&42&9=9?#H ())#KffGGG=&96G&%3=5"6f,-.,f-Pf)(3D3<"81)&"4D";D&42&94D35"663%53f ())#KffGGG=&4;"%69)&"4G33I=&4f?";)G9%3f./D-]D.Of'%"G)(t942t#%"'%3??&"4t";t3D5"663%53t&4t&42&9=9?#H ())#KffGGG=I388"''=4"%)(G3?)3%4=321f59%33%t36#8"$3%f36#8"$634)t?)9)&?)&5?=9?#H ())#Kff34=G&I&#32&9="%'fG&I&f\4"G832'3t35"4"6$ ())#KffGGG=?)9%)&4'D71?&43??=&4f)%342?f35"663%53f.O/D3D5"663%53D&421?)%$D942D("GD&)D&?D(38#&4'D 36#8"$634)D&4D&42&9=()68

9B=9209169(49!081

())#KffGGG=#"3)#9&4)3%=5"6f)("1'()?f59)3'"%$fJH#3%&3453DA3?&'4D0)%9)3'$f ())#Kff&4)3%95)&"4D23?&'4="%'f345$58"#32&9f1?3%t3H#3%&3453t942t3H#3%&3453t23?&'4=()68

.K; !!"#$%&'()"%*'+,-."#'-/(,0.).$'0"!!"0).$'0)&"$01.$./.,"'2"#,1$30

?9G!0)9(49!081(O50f5BP

())#KffGGG=?69?(&4'69'9W&43=5"6f1?97&8&)$D942D1?3%D3H#3%&3453f ())#Kff1H23?&'4=?69?(&4'69'9W&43=5"6f,-.,f..f,-f;%33(942D?)$83D&4DG37D23?&'4f ())#Kff1H23?&'4=?69?(&4'69'9W&43=5"6f,-..f-Cf-Cf&4)3%95)&"4D23?&'4D)95)&5?D;"%D<&?198D23?&'43%?f ())#Kff1H23?&'4=?69?(&4'69'9W&43=5"6f,--Cf.-f-Pf6&4&6&W&4'D5"6#83H&)$D&4D1?3%D&4)3%;953?f ())#Kff1H23?&'4=?69?(&4'69'9W&43=5"6f,--Cf-^f,/f.-D1&D23?&'4D#9))3%4?D$"1D?("182D73D#9$&4'D9))34)&"4D)"f KWWS ZZZ VPDVKLQJPDJD]LQH FRP W\SRJUDSKLF GHVLJQ SDWWHUQV SUDFWLFHV FDVH VWXG\ ())#KffGGG=?69?(&4'69'9W&43=5"6f,-.,f-/f,Pf%323?&'4&4'DG&)(D#3%?"498&)$f KWWS X[GHVLJQ VPDVKLQJPDJD]LQH FRP ȴQGLQJ WRQH YRLFH

?9G!0)9(49!081(=2369!!

())#KffGGG=Q3??3))=5"6fG37t?&)3?f1?97&8&)$f ())#KffGGG=?69%)G377$=5"6fG37t?&)3t23?&'4f;9?)t8"92&4'tG37?&)3?=9?# ())#KffC^-='?f ())#KffGGG=&)3%95$=5"6f%3?"1%53?f71&82D9D73))3%DG37?&)3f6"7&83DG37f

29!=31!0L9(?9G(49!081

())#KffGGG=)(&?694?8&;3=5"=1If#%"Q35)?f897f%3?#"4?&<3G&%3;%963?fu6"7&83 ())#Kff5"2&4'=?69?(&4'69'9W&43=5"6f,-..f-.f.,f'1&238&43?D;"%D%3?#"4?&<3DG37D23?&'4f ())#Kff632&9[13%&=3?f

29C929169(?9G!0)9!(C32(E345>:2(?9G!0)9(49!081

())#Kff8942"%=5"6fujf8"59)&"4?f KWWS ΍ FRP KWWS OLQH FRP DUWLFOHV JUHDW H[DPSOHV RI WKH ȵDW WUHQG LQ ZHE GHVLJQ ())#KffGGG=9GGG9%2?=5"6f/-D;%33D1&DI&)?=()68*

01C382:=<06!

())#KffGGG=9GGG9%2?=5"6f?"5&98D43)G"%I?D&4)3%#%3)32D)(%"1'(D&4;"'%9#(&5?=()68 ())#KffGGG='""'83=5"=&4f&6'%3?i%8Wv.!.!VU_t

.KA !!"#$%&'#"$(#&)("!!"*+#,(&-"./$&*'"!!"*.,."0112