Cold Weather Concrete Curing Guide

%'-6
+YMHIXS'SPH;IEXLIV'SRGVIXMRK
6ITSVXIHF]%'-'SQQMXXII
*MVWX4VMRXMRK
3GXSFIV
%QIVMGER'SRGVIXI-RWXMXYXI
%HZERGMRKGSRGVIXIORS[PIHKI
'ST]VMKLX F] XLI %QIVMGER 'SRGVIXI -RWXMXYXI *EVQMRKXSR ,MPPW 1- %PP VMKLXW VIWIVZIH 8LMW QEXIVMEP
QE]RSXFIVITVSHYGIHSVGSTMIHMR[LSPISVTEVXMRER]TVMRXIHQIGLERMGEPIPIGXVSRMGJMPQSVSXLIV
HMWXVMFYXMSRERHWXSVEKIQIHME[MXLSYXXLI[VMXXIRGSRWIRXSJ%'-
8LIXIGLRMGEPGSQQMXXIIWVIWTSRWMFPIJSV%'-GSQQMXXIIVITSVXWERHWXERHEVHWWXVMZIXSEZSMHEQFMKYMXMIW
SQMWWMSRWERHIVVSVWMRXLIWIHSGYQIRXW-RWTMXISJXLIWIIJJSVXWXLIYWIVWSJ%'-HSGYQIRXWSGGEWMSREPP]
JMRH MRJSVQEXMSR SV VIUYMVIQIRXW XLEX QE] FI WYFNIGX XS QSVI XLER SRI MRXIVTVIXEXMSR SV QE] FI
MRGSQTPIXI SV MRGSVVIGX 9WIVW [LS LEZI WYKKIWXMSRW JSV XLI MQTVSZIQIRX SJ %'- HSGYQIRXW EVI
VIUYIWXIH XS GSRXEGX %'- 4VSTIV YWI SJ XLMW HSGYQIRX MRGPYHIW TIVMSHMGEPP] GLIGOMRK JSV IVVEXE EX
[[[GSRGVIXISVKGSQQMXXIIWIVVEXEEWTJSVXLIQSWXYTXSHEXIVIZMWMSRW
%'-GSQQMXXIIHSGYQIRXWEVIMRXIRHIHJSVXLIYWISJMRHMZMHYEPW[LSEVIGSQTIXIRXXSIZEPYEXIXLI
WMKRMJMGERGIERHPMQMXEXMSRWSJMXWGSRXIRXERHVIGSQQIRHEXMSRWERH[LS[MPPEGGITXVIWTSRWMFMPMX]JSVXLI
ETTPMGEXMSRSJXLIQEXIVMEPMXGSRXEMRW-RHMZMHYEPW[LSYWIXLMWTYFPMGEXMSRMRER][E]EWWYQIEPPVMWOERH
EGGITXXSXEPVIWTSRWMFMPMX]JSVXLIETTPMGEXMSRERHYWISJXLMWMRJSVQEXMSR
%PPMRJSVQEXMSRMRXLMWTYFPMGEXMSRMWTVSZMHIHwEWMWx[MXLSYX[EVVERX]SJER]OMRHIMXLIVI\TVIWWSVMQTPMIH
MRGPYHMRKFYXRSXPMQMXIHXSXLIMQTPMIH[EVVERXMIWSJQIVGLERXEFMPMX]JMXRIWWJSVETEVXMGYPEVTYVTSWISV
RSRMRJVMRKIQIRX
%'-ERHMXWQIQFIVWHMWGPEMQPMEFMPMX]JSVHEQEKIWSJER]OMRHMRGPYHMRKER]WTIGMEPMRHMVIGXMRGMHIRXEP
SV GSRWIUYIRXMEP HEQEKIW MRGPYHMRK [MXLSYX PMQMXEXMSR PSWX VIZIRYIW SV PSWX TVSJMXW [LMGL QE] VIWYPX
JVSQXLIYWISJXLMWTYFPMGEXMSR
-XMWXLIVIWTSRWMFMPMX]SJXLIYWIVSJXLMWHSGYQIRXXSIWXEFPMWLLIEPXLERHWEJIX]TVEGXMGIWETTVSTVMEXIXS
XLIWTIGMJMGGMVGYQWXERGIWMRZSPZIH[MXLMXWYWI%'-HSIWRSXQEOIER]VITVIWIRXEXMSRW[MXLVIKEVHXS
LIEPXLERHWEJIX]MWWYIWERHXLIYWISJXLMWHSGYQIRX8LIYWIVQYWXHIXIVQMRIXLIETTPMGEFMPMX]SJEPP
VIKYPEXSV]PMQMXEXMSRWFIJSVIETTP]MRKXLIHSGYQIRXERHQYWXGSQTP][MXLEPPETTPMGEFPIPE[WERHVIKYPEXMSRW
MRGPYHMRKFYXRSXPMQMXIHXS9RMXIH7XEXIW3GGYTEXMSREP7EJIX]ERH,IEPXL%HQMRMWXVEXMSR37,% LIEPXL
ERHWEJIX]WXERHEVHW
3VHIVMRJSVQEXMSR%'-HSGYQIRXWEVIEZEMPEFPIMRTVMRXF]HS[RPSEHSR'(631XLVSYKLIPIGXVSRMG
WYFWGVMTXMSRSVVITVMRXERHQE]FISFXEMRIHF]GSRXEGXMRK%'-
1SWX%'-WXERHEVHWERHGSQQMXXIIVITSVXWEVIKEXLIVIHXSKIXLIVMRXLIERRYEPP]VIZMWIH%'-1ERYEPSJ
'SRGVIXI4VEGXMGI1'4
'SYRXV]'PYF(VMZI
*EVQMRKXSR,MPPW1-
97%
4LSRI
*E\
[[[GSRGVIXISVK
-7&2
%'-6
6ITSVXIHF]%'-'SQQMXXII
7XITLIR'1SVVMGEP /IZMR%1EG(SREPH
'LEMV :MGI'LEMV
/MQ(&EWLEQ .SLR4+REIHMRKIV 8MQSXL].0MGOIP 6MGLEVH;1IPRIGLYO

.EQIW6&EX]-- 6SFIVX.,SSTIW (EVQE[ER0YHMVHNE 'VEMK12I[XWSR
8IVV]''SPPMRW /IRRIXL',SZIV ;MPPMEQ.0]SRW--- ;MPPMEQ(4EPQIV.V
(+IRI(ERMIP )VMG(/MRK >LSRKKYS.SLR1E :EPIV]8SOEV
(EZMH.)PQIV
8LIGSQQMXXII[SYPHPMOIXSEGORS[PIHKI'LEVPIW&MROS[WOM1EVMS+EVÊERH)VMG,SPGOJSVXLIMVGSRXVMFYXMSRWXSXLIHSGYQIRX
8LISFNIGXMZIWSJGSPH[IEXLIVGSRGVIXMRKTVEGXMGIWEVIXSTVIZIRXHEQEKIXS '328)287
GSRGVIXIHYIXSJVII^MRKEXIEVP]EKIWIRWYVIXLEXXLIGSRGVIXIHIZIPSTWXLI 'LETXIV{-RXVSHYGXMSRT
VIUYMVIHWXVIRKXLJSVWEJIVIQSZEPSJJSVQWQEMRXEMRGYVMRKGSRHMXMSRWXLEX
JSWXIV RSVQEP WXVIRKXL HIZIPSTQIRX PMQMX VETMH XIQTIVEXYVI GLERKIW ERH 'LETXIV{2SXEXMSRERHHIJMRMXMSRWT
TVSZMHITVSXIGXMSRGSRWMWXIRX[MXLXLIMRXIRHIHWIVZMGIEFMPMX]SJXLIWXVYGXYVI {2SXEXMSR
'SRGVIXITPEGIHHYVMRKGSPH[IEXLIV[MPPHIZIPSTWYJJMGMIRXWXVIRKXLERH
HYVEFMPMX] XS WEXMWJ] MRXIRHIH WIVZMGI VIUYMVIQIRXW [LIR MX MW TVSTIVP]
{(IJMRMXMSRW
TVSHYGIHTPEGIH ERH TVSXIGXIH 8LMW KYMHITVSZMHIWMRJSVQEXMSRJSVXLI
GSRXVEGXSVXSWIPIGXXLIFIWXQIXLSHWXSWEXMWJ]XLIQMRMQYQGSPH[IEXLIV 'LETXIV{3FNIGXMZIWTVMRGMTPIWERHIGSRSQ]
GSRGVIXMRKVIUYMVIQIRXW T
8LMWKYMHIHMWGYWWIWGSRGVIXIXIQTIVEXYVIHYVMRKQM\MRKERHTPEGMRK {3FNIGXMZIW
XIQTIVEXYVIPSWWHYVMRKHIPMZIV]TVITEVEXMSRJSVGSPH[IEXLIVGSRGVIXMRK {4VMRGMTPIW
TVSXIGXMSR VIUYMVIQIRXW JSV GSRGVIXI XLEX HSIW RSX VIUYMVI GSRWXVYGXMSR {)GSRSQ]
WYTTSVXW IWXMQEXMRKWXVIRKXLHIZIPSTQIRX QIXLSHW SJ TVSXIGXMSR GYVMRK
VIUYMVIQIRXW ERH EHQM\XYVIW JSV EGGIPIVEXMRK WIXXMRK ERH WXVIRKXL KEMR
MRGPYHMRKERXMJVIIÎEHQM\XYVIW 'LETXIV{+IRIVEPVIUYMVIQIRXWT
8LI QEXIVMEPW TVSGIWWIW UYEPMX] GSRXVSP QIEWYVIW ERH MRWTIGXMSRW {4PERRMRK
HIWGVMFIH MRXLMW HSGYQIRXWLSYPH FI XIWXIH QSRMXSVIH SVTIVJSVQIH EW {4VSXIGXMSRHYVMRKYRI\TIGXIHJVII^MRK
ETTPMGEFPISRP]F]MRHMZMHYEPWLSPHMRKXLIETTVSTVMEXI%'-'IVXMJMGEXMSRW {'SRGVIXIXIQTIVEXYVI
SVIUYMZEPIRX {8IQTIVEXYVIVIGSVHW
{,IEXIHIRGPSWYVIW
/I][SVHW EGGIPIVEXMRK EHQM\XYVIW ERXMJVIIÎ EHQM\XYVIW GSPH [IEXLIV
{*MRMWLMRKEMVIRXVEMRIHWPEFW
GSRGVIXMRK GSRGVIXI XIQTIVEXYVI GYVMRK IRGPSWYVIW JSVQ VIQSZEP
JVII^MRK ERH XLE[MRK LIEXIVW LIEXMRK EKKVIKEXIW MRWYPEXMRK QEXIVMEPW {'SRGVIXI[SVOEFMPMX]
QEXYVMX]XIWXMRKTVSXIGXMSRWXVIRKXLHIZIPSTQIRX
'LETXIV{8IQTIVEXYVISJGSRGVIXIEWQM\IHERH
TPEGIHERHLIEXMRKSJQEXIVMEPWT
{4PEGIQIRXXIQTIVEXYVI
{1M\MRKXIQTIVEXYVI
%'-'SQQMXXII6ITSVXW+YMHIW1ERYEPWERH'SQQIRXEVMIW {,IEXMRKQM\MRK[EXIV
EVIMRXIRHIH JSV KYMHERGI MR TPERRMRK HIWMKRMRKI\IGYXMRK {,IEXMRKEKKVIKEXIW
ERHMRWTIGXMRKGSRWXVYGXMSR8LMWHSGYQIRXMWMRXIRHIHJSVXLI
YWI SJ MRHMZMHYEPW [LS EVI GSQTIXIRX XS IZEPYEXI XLI {7XIEQLIEXMRKSJEKKVIKEXIW
WMKRMJMGERGIERHPMQMXEXMSRWSJMXWGSRXIRXERHVIGSQQIRHEXMSRW {3ZIVLIEXMRKSJEKKVIKEXIW
ERH[LS [MPPEGGITXVIWTSRWMFMPMX]JSV XLIETTPMGEXMSR SJXLI {'EPGYPEXMSRSJQM\XYVIXIQTIVEXYVI
QEXIVMEPMXGSRXEMRW8LI%QIVMGER'SRGVIXI-RWXMXYXIHMWGPEMQW
ER]ERHEPPVIWTSRWMFMPMX]JSVXLIWXEXIHTVMRGMTPIW8LI-RWXMXYXI {8IQTIVEXYVIPSWWHYVMRKHIPMZIV]
WLEPPRSXFIPMEFPIJSVER]PSWWSVHEQEKIEVMWMRKXLIVIJVSQ
6IJIVIRGI XS XLMW HSGYQIRX WLEPP RSX FI QEHI MR GSRXVEGX %'-6WYTIVWIHIW%'-6ERH[EWEHSTXIHERHTYFPMWLIH3GXSFIV
HSGYQIRXW-JMXIQWJSYRHMRXLMWHSGYQIRXEVIHIWMVIHF]XLI 'ST]VMKLX%QIVMGER'SRGVIXI-RWXMXYXI
%VGLMXIGX)RKMRIIVXSFIETEVXSJXLIGSRXVEGXHSGYQIRXWXLI] %PPVMKLXWVIWIVZIHMRGPYHMRKVMKLXWSJVITVSHYGXMSRERHYWIMRER]JSVQSVF]ER]
WLEPPFIVIWXEXIHMRQERHEXSV]PERKYEKIJSVMRGSVTSVEXMSRF] QIERW MRGPYHMRK XLI QEOMRK SJ GSTMIW F] ER] TLSXS TVSGIWW SV F] IPIGXVSRMG SV
QIGLERMGEPHIZMGITVMRXIH[VMXXIRSVSVEPSVVIGSVHMRKJSVWSYRHSVZMWYEPVITVSHYG
XLI%VGLMXIGX)RKMRIIV XMSRSVJSVYWIMRER]ORS[PIHKISVVIXVMIZEPW]WXIQSVHIZMGIYRPIWWTIVQMWWMSRMR
[VMXMRKMWSFXEMRIHJVSQXLIGST]VMKLXTVSTVMIXSVW

+9-()83'30(;)%8,)6'32'6)8-2+%'-6
'LETXIV{4VITEVEXMSRFIJSVIGSRGVIXMRKT ',%48)6{-2863(9'8-32
{4VITEVEXMSRSJWYVJEGIWMRGSRXEGX[MXLJVIWLGSRGVIXI 'SPH[IEXLIVI\MWXW[LIRXLIEMVXIQTIVEXYVILEWJEPPIRXS
{1EWWMZIQIXEPPMGIQFIHQIRXW SVMWI\TIGXIHXSJEPPFIPS[*' HYVMRKXLITVSXIGXMSR
{7YFKVEHIGSRHMXMSR TIVMSH8LITVSXIGXMSRTIVMSHMWHIJMRIHEWXLIXMQIVIUYMVIH
XSTVIZIRXGSRGVIXIJVSQFIMRKEJJIGXIHF]I\TSWYVIXSGSPH
'LETXIV{4VSXIGXMSREKEMRWXJVII^MRKERH [IEXLIV'SRGVIXITPEGIHHYVMRKGSPH[IEXLIV[MPPHIZIPST
TVSXIGXMSRJSVGSRGVIXIRSXVIUYMVMRKGSRWXVYGXMSR WYJJMGMIRX WXVIRKXL ERH HYVEFMPMX] XS WEXMWJ] XLI MRXIRHIH
WYTTSVXWT WIVZMGIVIUYMVIQIRXW[LIRMXMWTVSTIVP]TVSHYGIHTPEGIH
{4VSXIGXMSRQIXLSHW ERHTVSXIGXIH8LIRIGIWWEV]HIKVIISJTVSXIGXMSRMRGVIEWIW
{4VSXIGXMSRTIVMSH EWXLIEQFMIRXXIQTIVEXYVIHIGVIEWIW
{4VSXIGXMSRJSVWXVIRKXLKEMR -JVIUYMVIQIRXWJSVGSPH[IEXLIVGSRGVIXMRKEVIRIIHIHMR
{8IQTIVEXYVIHVSTEJXIVVIQSZEPSJTVSXIGXMSR WTIGMJMGEXMSR JSVQ VIJIVIRGI %'- -J RIGIWWEV] EHH
{%PPS[EFPIXIQTIVEXYVIHMJJIVIRXMEPHYVMRKWXVMTTMRK ETTVSTVMEXI QSHMJMGEXMSRW XS XLI GSRXVEGX HSGYQIRXW EJXIV
GSRWYPXMRKXLIWTIGMJMGEXMSRGLIGOPMWX
'LETXIV{4VSXIGXMSRJSVWXVYGXYVEPGSRGVIXI 8LMW KYMHI TVSZMHIW XLI RIGIWWEV] MRJSVQEXMSR JSV XLI
VIUYMVMRKGSRWXVYGXMSRWYTTSVXWT GSRXVEGXSVXSWIPIGXXLIFIWXQIXLSHWXSWEXMWJ]XLIQMRMQYQ
{-RXVSHYGXMSR
GSPH[IEXLIVGSRGVIXMRKVIUYMVIQIRXW
{*MIPHGYVIHG]PMRHIVW
{-RTPEGIXIWXMRK ',%48)6{238%8-32%2(()*-2-8-327
{1EXYVMX]XIWXMRK {2SXEXMSR
{%XXEMRQIRXSJHIWMKRWXVIRKXL 1 ! QEXYVMX]JEGXSVHIKVIILSYV
{-RGVIEWMRKIEVP]WXVIRKXL 8 ! XIQTIVEXYVISJGSRGVIXI*'
{'SSPMRKSJGSRGVIXI 8E ! XIQTIVEXYVISJGSEVWIEKKVIKEXI*'
{)WXMQEXMRKWXVIRKXLHIZIPSTQIRX 8G ! XIQTIVEXYVISJGIQIRX*'
{6IQSZEPSJJSVQWERHWYTTSVXW 8H ! XIQTIVEXYVIHVSTXSFII\TIGXIHHYVMRKELSYV
{7TIGMJMGEXMSRVIGSQQIRHEXMSRW HIPMZIV] XMQI * ' 8LMW ZEPYI WLSYPH FI
{)WXMQEXMRK WXVIRKXL HIZIPSTQIRX{QSHIPMRK SJ EHHIHXSXVXSHIXIVQMRIXLIVIUYMVIHXIQTIVEXYVI
GSPH[IEXLIVTPEGIQIRXW SJGSRGVIXIEXXLITPERX
8S ! HEXYQXIQTIVEXYVI*'
'LETXIV{)UYMTQIRXQEXIVMEPWERHQIXLSHWSJ 8W ! XIQTIVEXYVISJJMRIEKKVIKEXI*'
XIQTIVEXYVITVSXIGXMSRT 8[ ! XIQTIVEXYVISJEHHIHQM\MRK[EXIV*'
{-RXVSHYGXMSR
XE ! EQFMIRXEMVXIQTIVEXYVI*'
{-RWYPEXMRKQEXIVMEPW
XV ! GSRGVIXIXIQTIVEXYVIVIUYMVIHEXXLINSF*'
{7IPIGXMSRSJMRWYPEXMSR[LIRWYTTPIQIRXEV]LIEXMW
;E ! WEXYVEXIHWYVJEGIHV][IMKLXSJGSEVWIEKKVIKEXI
RSXYWIH
PFOK
{7IPIGXMSRSJMRWYPEXMSRJSVYWI[MXLL]HVSRMGLIEXIVW
;G ! [IMKLXSJGIQIRXPFOK
{,IEXIVW
;W ! WEXYVEXIHWYVJEGIHV][IMKLXSJJMRIEKKVIKEXIPFOK
{)RGPSWYVIW
;[ ! [IMKLXSJQM\MRK[EXIVPFOK
{-RXIVREPLIEXMRK
;[E ! [IMKLXSJJVII[EXIVSRGSEVWIEKKVIKEXIPFOK
{8IQTIVEXYVIQSRMXSVMRK
{8IQTSVEV]VIQSZEPSJTVSXIGXMSR ;[W ! [IMKLXSJJVII[EXIVSRJMRIEKKVIKEXIPFOK
{-RWYPEXIHJSVQW [GQ ! [EXIVGIQIRXMXMSYWQEXIVMEPVEXMS
X ! HYVEXMSR SJ GYVMRK TIVMSH EX XIQTIVEXYVI 8
'LETXIV{'YVMRKVIUYMVIQIRXWERHQIXLSHW HIKVIILSYV
T
{-RXVSHYGXMSR {(IJMRMXMSRW
{'YVMRKHYVMRKXLITVSXIGXMSRTIVMSH %'-TVSZMHIWEGSQTVILIRWMZIPMWXSJHIJMRMXMSRWXLVSYKL
{'YVMRKJSPPS[MRKXLITVSXIGXMSRTIVMSH ER SRPMRI VIWSYVGI w%'- 'SRGVIXI 8IVQMRSPSK]x LXXT
XIVQMRSPSK]GSRGVIXISVK (IJMRMXMSRW TVSZMHIH LIVIMR
'LETXIV{%GGIPIVEXMSRSJWIXXMRKERHWXVIRKXL GSQTPIQIRXXLEXVIWSYVGI
HIZIPSTQIRXT EHQM\XYVI{E QEXIVMEP SXLIV XLER [EXIV EKKVIKEXIW
{-RXVSHYGXMSR GIQIRXMXMSYWQEXIVMEPWERHJMFIVVIMRJSVGIQIRXYWIHEWER
{%GGIPIVEXMRKEHQM\XYVIW MRKVIHMIRX SJ E GIQIRXMXMSYW QM\XYVI XS QSHMJ] MXW JVIWLP]
{6ETMHWIXXMRKGIQIRXW QM\IHWIXXMRKSVLEVHIRIHTVSTIVXMIWERHXLEXMWEHHIHXS
XLIFEXGLFIJSVISVHYVMRKMXWQM\MRK
'LETXIV{6IJIVIRGIWT FEGOWLSVIW{WLSVIWTPEGIHWRYKP]YRHIVEGSRGVIXIWPEF
{6IJIVIRGIHWXERHEVHWERHVITSVXW SVWXVYGXYVEPQIQFIVEJXIVXLISVMKMREPJSVQ[SVOERHWLSVIW
{'MXIHVIJIVIRGIW LEZIFIIRVIQSZIHJVSQEWQEPPEVIE[MXLSYXEPPS[MRKXLI
%QIVMGER'SRGVIXI-RWXMXYXI'ST]VMKLXIH1EXIVMEP{[[[GSRGVIXISVK
+9-()83'30(;)%8,)6'32'6)8-2+%'-6
IRXMVIWPEFSVQIQFIVXSHIJPIGXSVWYTTSVXMXWS[RQEWWSV GSRGVIXI MW QIEWYVIH MR EGGSVHERGI [MXL %781 '

I\MWXMRKGSRWXVYGXMSRPSEHW '1
GEVFSR QSRS\MHI{E QSPIGYPEV KEW EX 784 WXERHEVH
XIQTIVEXYVIERHTVIWWYVI GSRWMWXMRKSJSRIEXSQSJGEVFSR ',%48)6{3&.)'8-:)7
ERH SRI SJ S\]KIR SJXIR XLI TVSHYGX SJ FYVRMRK SVKERMG 46-2'-40)7%2()'3231=
QEXIVMEPWMREPS[S\]KIRIRZMVSRQIRX {3FNIGXMZIW
GEVFSREXMSR{XLIVIEGXMSRFIX[IIRGEVFSRHMS\MHIERHE 8LISFNIGXMZIWSJGSPH[IEXLIVGSRGVIXMRKTVEGXMGIWEVIEW
L]HVS\MHISVS\MHIXSJSVQEGEVFSREXIIWTIGMEPP]MRGIQIRX JSPPS[W
TEWXI QSVXEV SV GSRGVIXI XLI VIEGXMSR [MXL GEPGMYQ 4VIZIRXHEQEKIXSGSRGVIXIHYIXSIEVP]EKIJVII^MRK
GSQTSYRHWXSTVSHYGIGEPGMYQGEVFSREXI ;LIRRSI\XIVREP[EXIVMWEZEMPEFPIXLIHIKVIISJWEXYVEXMSR
GSPH [IEXLIV{[LIR EMV XIQTIVEXYVI LEW JEPPIR XS SV MW SJRI[P] TPEGIHGSRGVIXIHIGVIEWIWEW XLIGSRGVIXIQEXYVIW
I\TIGXIHXSJEPPFIPS[*' HYVMRKXLITVSXIGXMSRTIVMSH ERHXLIQM\MRK[EXIVGSQFMRIW[MXLGIQIRXHYVMRKL]HVEXMSR
TVSXIGXMSR TIVMSH MW HIJMRIH EW XLI XMQI VIUYMVIH XS TVIZIRX 9RHIVWYGLGSRHMXMSRWXLIHIKVIISJWEXYVEXMSRJEPPWFIPS[XLI
GSRGVIXIJVSQFIMRKEJJIGXIHF]I\TSWYVIXSGSPH[IEXLIV GVMXMGEP PIZIP XLI HIKVII SJ [EXIV WEXYVEXMSR [LIVI E WMRKPI
G]GPISJJVII^MRKGEYWIWHEQEKI EXXLIETTVS\MQEXIXMQIXLI
GSRGVIXI PMKLX[IMKLX{GSRGVIXI LEZMRK E HIRWMX] SJ
GSRGVIXIEXXEMRWEGSQTVIWWMZIWXVIRKXLSJTWM14E
ETTVS\MQEXIP]XSPFJX XSOKQ YWYEPP]
4S[IVW %X * ' QSWX [IPPTVSTSVXMSRIH
EGLMIZIHF]YWMRKPMKLX[IMKLXGSEVWIEKKVIKEXIPMKLX[IMKLX
GSRGVIXIQM\XYVIWVIEGLXLMWWXVIRKXL[MXLMRLSYVW
JMRIEKKVIKEXISVFSXL
)RWYVIXLEXXLIGSRGVIXIHIZIPSTWXLIVIUYMVIHWXVIRKXL
GSRGVIXI RSVQEP[IMKLX{GSRGVIXI LEZMRK E HIRWMX] SJ
JSV WEJI VIQSZEP SJ JSVQW WLSVIW ERH VIWLSVIW ERH JSV WEJI
ETTVS\MQEXIP]PFJXOKQ QEHI[MXLRSVQEP
PSEHMRKSJXLIWXVYGXYVIHYVMRKERHEJXIVGSRWXVYGXMSR
HIRWMX]EKKVIKEXIW
1EMRXEMR GYVMRK GSRHMXMSRW XLEX JSWXIV RSVQEP
GSVVSWMSR{HIWXVYGXMSR SJ QIXEP F] EGLIQMGEP IPIGXVS
WXVIRKXL HIZIPSTQIRX [MXLSYX YWMRK I\GIWWMZI LIEX ERH
GLIQMGEPSVIPIGXVSP]XMGVIEGXMSR[MXLMRMXWIRZMVSRQIRX
[MXLSYXGEYWMRKGVMXMGEPWEXYVEXMSRSJXLIGSRGVIXIEXXLIIRH
GVEGO TPEWXMGWLVMROEKI{WYVJEGI GVEGO XLEX SGGYVW MR
SJXLITVSXIGXMSRTIVMSH
GSRGVIXITVMSVXSMRMXMEPWIX
0MQMXVETMHXIQTIVEXYVIGLERKIWTEVXMGYPEVP]FIJSVI
L]HVSRMG LIEXIV{QSFMPI IRIVK]I\GLERKMRK W]WXIQ
XLIGSRGVIXILEWHIZIPSTIHWYJJMGMIRXWXVIRKXLXS[MXLWXERH
YWIHXSLIEXJVSÎRKVSYRHJSVQ[SVOSVGSRGVIXIWYVJEGIW
MRHYGIHXLIVQEPWXVIWWIW6ETMHGSSPMRKSJGSRGVIXIWYVJEGIW
F] TYQTMRK LIEXIH JPYMH XLVSYKLGPSWIHGMVGYPEXMSR XYFMRK
SV PEVKI XIQTIVEXYVI HMJJIVIRGIW FIX[IIR XLI I\XIVMSV ERH
ERHELIEXI\GLERKIV
MRXIVMSVVIKMSRSJWXVYGXYVEPQIQFIVWGERGEYWIGVEGOMRKERH
QEXYVMX] XIWXMRK{XIWXW TIVJSVQIH XS IWXMQEXI MRTPEGI
GERFIHIXVMQIRXEPXSWXVIRKXLERHHYVEFMPMX]%XXLIIRHSJ
GSRGVIXIWXVIRKXLYWMRKMRTPEGIGSRGVIXIXIQTIVEXYVILMWXSV]
XLI VIUYMVIH TIVMSHVIJIV XS 'LETXIV KVEHYEPP] VIQSZI
ERH WXVIRKXL ZIVWYW XIQTIVEXYVI LMWXSV] JYRGXMSRW HIVMZIH
MRWYPEXMSR SV SXLIV TVSXIGXMSR WS XLI WYVJEGI XIQTIVEXYVI
JVSQXIWXWSJGSRGVIXI[MXLGSQTEVEFPIQM\XYVITVSTSVXMSRW
HIGVIEWIW KVEHYEPP] HYVMRK XLI WYFWIUYIRX LSYV TIVMSH
TSWXXIRWMSRMRK{QIXLSH SJ TVIWXVIWWMRK MR [LMGL VIJIVXS7IGXMSR ERH
TVIWXVIWWMRKWXIIPMWXIRWMSRIHEJXIVGSRGVIXILEWLEVHIRIH 4VSZMHI TVSXIGXMSR GSRWMWXIRX [MXL XLI MRXIRHIH
TVSXIGXMSR{XLI QEXIVMEPW ERH IRZMVSRQIRXEP GSRHMXMSRW WIVZMGIEFMPMX] SJ XLI WXVYGXYVI 'SRGVIXI WXVYGXYVIW EVI
MRTPEGIXSTVIZIRXGSRGVIXIJVSQFIMRKEJJIGXIHF]I\TSWYVI MRXIRHIHJSVQER]]IEVWSJYWI7EXMWJEGXSV]WXVIRKXLJSV
XSGSPH[IEXLIV HE]WXERHEVHGYVIHG]PMRHIVWMWSJRSGSRWIUYIRGIMJXLI
VIEGXMSREPOEPMEKKVIKEXI{EKIRIVEPP]HIPIXIVMSYWHMWWSPY WXVYGXYVI LEW WYVJEGIW ERH GSVRIVW HEQEKIH F] JVII^MRK
XMSRERHW[IPPMRKSJGSQTSRIRXWMREKKVIKEXIWMRXLITVIWIRGI HIL]HVEXIHEVIEWERHGVEGOMRKJVSQSZIVLIEXMRKFIGEYWISJ
SJ TSVI WSPYXMSRW GSQTVMWMRK EPOEPM L]HVS\MHIW XLI VIEGXMSR MREHIUYEXI TVSXIGXMSR MQTVSTIV GYVMRK SV GEVIPIWW [SVO
TVSHYGXWQE]GEYWII\TERWMSRERHGVEGOMRKSJGSRGVIXI QERWLMT 7MQMPEVP] IEVP] GSRGVIXI WXVIRKXL EGLMIZIH F]
VIWLSVI{EXIQTSVEV]WYTTSVXTPEGIHEKEMRWXXLIFSXXSQ MRHMWGVMQMREXIYWISJI\GIWWMZIGEPGMYQGLPSVMHI'E'P MW
SJEWPEFSVSXLIVWXVYGXYVEPQIQFIVMQQIHMEXIP]EJXIVXLI RSX WIVZMGIEFPI MJ XLI GSRGVIXI GVEGOW I\GIWWMZIP] MR PEXIV
JSVQWERHSVMKMREPWLSVIWLEZIFIIRVIQSZIH ]IEVWFIGEYWISJHMWVYTXMZIMRXIVREPI\TERWMSRHYIXSEPOEPM
WEXYVEXMSR{EWETTPMIHXSEKKVIKEXISVGSRGVIXIXLIGSRHM EKKVIKEXIVIEGXMSRSVSJTSWWMFPIGSVVSWMSRSJVIMRJSVGIQIRX
XMSRWYGLXLEXRSQSVIPMUYMHGERFILIPHSVTPEGIH[MXLMRMX VIJIVXS7IGXMSR 7LSVXXIVQGSRWXVYGXMSRIGSRSQ]SR
WLSVI{EXIQTSVEV]WYTTSVXJSVJSVQ[SVOJVIWLGSRGVIXI GSRGVIXITVSXIGXMSRWLSYPHRSXFISFXEMRIHEXXLII\TIRWISJ
ERH GSRWXVYGXMSR PSEHW SV JSV VIGIRXP] FYMPX WXVYGXYVIW XLEX PSRKXIVQHYVEFMPMX]
LEZI RSX HIZIPSTIH JYPP HIWMKR WXVIRKXL EPWS GEPPIH TVST
XSQTSWXERHWXVYX {4VMRGMTPIW
WXVIRKXLGSRGVIXIGSQTVIWWMZI{XLIQIEWYVIHQE\MQYQ 8LMW KYMHI TVIWIRXW VIGSQQIRHEXMSRW XS EGLMIZI XLI
VIWMWXERGI SJ E GSRGVIXI WTIGMQIR XS E\MEP GSQTVIWWMZI SFNIGXMZIWSYXPMRIHMR7IGXMSR8LITVEGXMGIWERHTVSGIHYVIW
PSEHMRKI\TVIWWIHEWJSVGITIVYRMXGVSWWWIGXMSREPEVIE MRXLMWKYMHIWXIQJVSQXLIJSPPS[MRKTVMRGMTPIWGSRGIVRMRK
XIQTIVEXYVI{EQIEWYVISJXLIEZIVEKIOMRIXMGIRIVK]SJXLI GSPH[IEXLIVGSRGVIXMRK
TEVXMGPIWMREWEQTPISJQEXXIVI\TVIWWIHMRXIVQWSJYRMXWSV e 'SRGVIXI TVSXIGXIH JVSQ JVII^MRK YRXMP MX EXXEMRW E
HIKVIIW HIWMKREXIH SR E WXERHEVH WGEPI 8LI XIQTIVEXYVI SJ GSQTVIWWMZIWXVIRKXLSJEXPIEWXTWM14E [MPP
+9-()83'30(;)%8,)6'32'6)8-2+%'-6
RSXFIHEQEKIHF]I\TSWYVIXSEWMRKPIJVII^MRKG]GPI 'SRGVIXITVSXIGXIHMRXLMWQERRIV[MPPFIWEJIJVSQHEQEKI
4S[IVW -X [MPP QEXYVI XS MXW TSXIRXMEP WXVIRKXL F]JVII^MRKEXERIEVP]EKI,S[IZIVTVSXIGXMSRJVSQJVII^MRK
ERH[MPPRSXFIHEQEKIHHIWTMXIWYFWIUYIRXI\TSWYVI HYVMRKXLIJMVWXLSYVWHSIWRSXIRWYVIEWEXMWJEGXSV]VEXI
XS GSPH [IEXLIV 1EPLSXVE ERH &IV[ERKIV 2S SJ WXVIRKXL HIZIPSTQIRX TEVXMGYPEVP] [LIR JSPPS[IH F]
JYVXLIVTVSXIGXMSRMWRIGIWWEV]YRPIWWEWTIGMJMGWXVIRKXL GSPHIV[IEXLIV'SRXMRYITVSXIGXMSRERHGYVMRKPSRKIRSYKL
QYWXFIEXXEMRIHMRPIWWXMQI ERHEXEXIQTIVEXYVIVIGSQQIRHIHF]8EFPIXSTVSHYGI
e ;LIVIEWTIGMJMIHGSRGVIXIWXVIRKXLWLSYPHFIEXXEMRIH XLIWXVIRKXLWTIGMJMIHJSVJSVQVIQSZEPSVWXVYGXYVEPWEJIX]
MR E JI[ HE]W SV [IIOW TPERRMRK MRGPYHMRK QM\XYVI VIJIVXS'LETXIVWERH
TVSTSVXMSR EPXIVEXMSRW ERH VIZMWMSRW XS GSRWXVYGXMSR
TVEGXMGI ERH TVSXIGXMSR QE] FI VIUYMVIH XS QEMRXEMR {'SRGVIXIXIQTIVEXYVI
XLIGSRGVIXIXIQTIVEXYVIVIJIVXS'LETXIVWERH (YVMRK GSPH [IEXLIV XLI GSRGVIXI XIQTIVEXYVI HYVMRK
e )\GITX[MXLMRLIEXIHTVSXIGXMZIIRGPSWYVIWPMXXPISVRS TPEGIQIRXWLSYPHRSXFIPS[IVXLERXLIZEPYIWVIGSQQIRHIH
I\XIVREP WYTTP] SJ QSMWXYVI MW VIUYMVIH HYVMRK GSPH MR 'LETXIV8STVIZIRXJVII^MRKEXIEVP]EKIWQEMRXEMRXLI
[IEXLIVGYVMRKVIJIVXS'LETXIV ERH GSRGVIXI XIQTIVEXYVI EX SVEFSZI XLI VIGSQQIRHIH TPEGI
e 9RHIVGIVXEMRGSRHMXMSRW'E'PWLSYPHRSXFIYWIHXS QIRXXIQTIVEXYVIJSVXLIPIRKXLSJXMQIKMZIRMR'LETXIV
EGGIPIVEXI WIXXMRK ERH LEVHIRMRK FIGEYWI SJ MRGVIEWIH 8LIPIRKXLSJXLMWTVSXIGXMSRTIVMSHHITIRHWSRGIQIRXX]TI
GLERGIWSJGSVVSWMSRSJQIXEPWIQFIHHIHMRGSRGVIXISV ERHHSWEKIYWISJEGGIPIVEXSVWERHXLIWIVZMGIGEXIKSV]
SXLIVEHZIVWIIJJIGXWVIJIVXS'LETXIV 8LI VIGSQQIRHIH QMRMQYQ TPEGIQIRX XIQTIVEXYVIW MR
8MQIWERHXIQTIVEXYVIWMRXLMWKYMHIEVIRSXI\EGXZEPYIW 8EFPIETTP]XSRSVQEP[IMKLXGSRGVIXI;LMPITPEGIQIRX
JSVEPPWMXYEXMSRWERHWLSYPHRSXFIYWIHEWWYGL8LIYWIV XIQTIVEXYVIWSJPMKLX[IMKLXGSRGVIXIEVIIUYMZEPIRXXSXLEXSJ
WLSYPH GSRWMHIV XLI TVMQEV] MRXIRX SJ XLIWI VIGSQQIRHE RSVQEP[IMKLX GSRGVIXI I\TIVMIRGI MRHMGEXIW XLEX JVIWLP]
XMSRWERHYWINYHKQIRXMRHIGMHMRK[LEXMWEHIUYEXIJSVIEGL QM\IH PMKLX[IMKLX GSRGVIXI PSWIW LIEX QSVI WPS[P] XLER
TEVXMGYPEVGMVGYQWXERGI JVIWLP]QM\IHRSVQEP[IMKLXGSRGVIXI0MKLXIV[IMKLXMRWY
PEXMRKGSRGVIXIWPSWILIEXIZIRQSVIWPS[P];LIRI\TSWIH
{)GSRSQ] XSJVII^MRKXIQTIVEXYVIWLS[IZIVWSQIGSRGVIXIWEVIWXMPP
)\TIVMIRGIWLS[WXLISZIVEPPGSWXWSJEHIUYEXITVSXIGXMSR WYWGITXMFPIXSHEQEKIJVSQWYVJEGIJVII^MRK
JSV GSPH[IEXLIVGSRGVIXMRK EVI RSX I\GIWWMZI GSRWMHIVMRK 'SRGVIXI XIQTIVEXYVI HYVMRK TPEGIQIRX WLSYPH FI RIEV
[LEXMWVIUYMVIHERHXLIVIWYPXMRKFIRIJMXW8LIS[RIVWLSYPH XLIQMRMQYQXIQTIVEXYVIWMR8EFPI4PEGIQIRXXIQTIV
HIGMHI [LIXLIV XLI I\XVE GSWXW SJ GSPH [IEXLIV GSRGVIXMRK EXYVIWWLSYPHRSXFILMKLIVXLERXLIWIQMRMQYQZEPYIWF]
STIVEXMSRW EVIETVSJMXEFPI MRZIWXQIRXSV MJMX MW QSVI GSWX QSVIXLER*' 8EOIEHZERXEKISJXLISTTSVXYRMX]
IJJIGXMZI XS [EMX JSV QMPH [IEXLIV 2IKPIGXMRK TVSXIGXMSR TVSZMHIHF]GSPH[IEXLIVXSTPEGIPS[XIQTIVEXYVIGSRGVIXI
EKEMRWX IEVP] JVII^MRK GER GEYWI MQQIHMEXI HIWXVYGXMSR SV 'SRGVIXI TPEGIH EX PS[IV XIQTIVEXYVIW ? XS * XS
TIVQERIRXP][IEOIRIHGSRGVIXI8LIVIJSVIMJGSPH[IEXLIV ' ATVSXIGXIHEKEMRWXJVII^MRKERHTVSTIVP]GYVIHJSVE
GSRGVIXMRKMWTIVJSVQIHEHIUYEXITPERRMRKTVSXIGXMSRJVSQ WYJJMGMIRXPIRKXLSJXMQILEWXLITSXIRXMEPXSHIZIPSTLMKLIV
PS[XIQTIVEXYVIWERHTVSTIVGYVMRKEVIIWWIRXMEP YPXMQEXIWXVIRKXL/PMIKIV ERHKVIEXIVHYVEFMPMX]XLER
GSRGVIXITPEGIHEXLMKLIVXIQTIVEXYVIW-XMWWYFNIGXXSPIWW
',%48)6{+)2)6%06)59-6)1)287 XLIVQEP GVEGOMRK XLER WMQMPEV GSRGVIXI TPEGIH EX LMKLIV
{4PERRMRK XIQTIVEXYVIW4PEGIQIRXSJLMKLIVXIQTIVEXYVIGSRGVIXIQE]
8LI KIRIVEP GSRXVEGXSV GSRWXVYGXMSR QEREKIV GSRGVIXI I\TIHMXI JMRMWLMRK MR GSPH [IEXLIV FYX QE] HIKVEHI PSRK
GSRXVEGXSV GSRGVIXI WYTTPMIV WTIGMJMG QEXIVMEPW WYTTPMIVW XIVQGSRGVIXITVSTIVXMIW
XIWXMRK PEFSVEXSV] VITVIWIRXEXMZI ERH S[RIV SV EVGLMXIGX
IRKMRIIV WLSYPH QIIX MR E TVIGSRWXVYGXMSR GSRJIVIRGI XS {8IQTIVEXYVIVIGSVHW
HIJMRIMRGPIEVXIVQW[LEXGSPH[IEXLIVGSRGVIXMRKQIXLSHW 8LIEGXYEPXIQTIVEXYVIEXXLIGSRGVIXIWYVJEGIHIXIVQMRIW
[MPPFIYWIH8LMWKYMHITVSZMHIWEFEWMWJSVXLIGSRXVEGXSVXS XLI IJJIGXMZIRIWW SJ TVSXIGXMSR VIKEVHPIWW SJ EQFMIRX
WIPIGXWTIGMJMGQIXLSHWXSWEXMWJ]XLIQMRMQYQVIUYMVIQIRXW XIQTIVEXYVI8LIVIJSVIMXMWHIWMVEFPIXSQSRMXSVERHVIGSVH
HYVMRKGSPH[IEXLIVGSRGVIXMRK XLIGSRGVIXIXIQTIVEXYVI(YVMRKXLIXIQTIVEXYVIVIGSVHMRK
4PERWXSTVSXIGXJVIWLGSRGVIXIJVSQJVII^MRKERHXSQEMRXEMR ERHQSRMXSVMRKTVSGIWWGSRWMHIVXLIJSPPS[MRK
XIQTIVEXYVIWEFSZIXLIVIGSQQIRHIHQMRMQYQZEPYIWWLSYPH e 'SRGVIXIGSVRIVWERHIHKIWEVIZYPRIVEFPIXSJVII^MRK
FI QEHI [IPP FIJSVI JVII^MRK XIQTIVEXYVIW EVI I\TIGXIH XS ERH YWYEPP] QSVI HMJJMGYPX XS QEMRXEMR EX XLI VIUYMVIH
SGGYV )UYMTQIRX ERH QEXIVMEPW WLSYPH FI EX XLI [SVO WMXI XIQTIVEXYVI1SRMXSVXLIGSRGVIXIWYVJEGIXIQTIVEXYVI
FIJSVI GSPH [IEXLIV MW PMOIP] XS SGGYV RSX EJXIV GSRGVIXI MW MRXLIWIEVIEWXSIZEPYEXIERHZIVMJ]XLIIJJIGXMZIRIWWSJ
TPEGIHERHMXWXIQTIVEXYVIETTVSEGLIWXLIJVII^MRKTSMRX XLITVSXIGXMSRTVSZMHIH
e 1SRMXSVMRXIVREPXIQTIVEXYVISJGSRGVIXIXSIRWYVIXLEX
{4VSXIGXMSRHYVMRKYRI\TIGXIHJVII^MRK I\GIWWMZILIEXMRKHSIWRSXSGGYVVIJIVXS7IGXMSR
(YVMRKTIVMSHWRSXHIJMRIHEWGSPH[IEXLIVWYGLEWJEPPSV *SVXLMWI\TIRHEFPIXLIVQMWXSVWSVXLIVQSGSYTPIWGEWX
WTVMRKMRGSPHGPMQEXIWSV[MRXIVMRXIQTIVEXIGPMQEXIWXEOI MRXLIGSRGVIXIQE]FIYWIH
TVIGEYXMSRWXSTVSXIGXEPPGSRGVIXIWYVJEGIWJVSQYRI\TIGXIH e -RWTIGXMSR TIVWSRRIP WLSYPH VIGSVH XLI HEXI XMQI
JVII^MRK JSV EX PIEWX XLI JMVWX LSYVW EJXIV TPEGIQIRX SYXWMHI EMV XIQTIVEXYVI XIQTIVEXYVI SJ GSRGVIXI EW
+9-()83'30(;)%8,)6'32'6)8-2+%'-6
TPEGIH ERH [IEXLIV GSRHMXMSRW WYGL EW GEPQ [MRH] XSXEP EMVGSRXIRX MW KVIEXIV XLER %'- 8LI[EXIV
GPIEVSVGPSYH]6IGSVHGSRGVIXIXIQTIVEXYVIWEXVIKYPEV GIQIRXMXMSYWQEXIVMEPVEXMS[GQ WLSYPHRSXI\GIIHXLIPMQMXW
XMQI MRXIVZEPW FYX RSX PIWW XLER X[MGI TIV LSYV VIGSQQIRHIHMR%'-6ERHXLIGSRGVIXIWLSYPHRSXFI
TIVMSH -RGPYHI XIQTIVEXYVIW EX WIZIVEP TSMRXW [MXLMR EPPS[IH XS JVIIÎ ERH XLE[ MR E WEXYVEXIH GSRHMXMSR FIJSVI
XLIIRGPSWYVIERHSRXLIGSRGVIXIWYVJEGIGSVRIVWERH HIZIPSTMRKEGSQTVIWWMZIWXVIRKXLSJTWM14E 2I[
IHKIW8LIVIWLSYPHFIEWYJJMGMIRXRYQFIVSJXIQTIVEXYVI WMHI[EPOW ERH SXLIV JPEX[SVO I\TSWIH XS QIPXMRK WRS[ ERH
QIEWYVIQIRX PSGEXMSRW XS WLS[ XLI VERKI SJ GSRGVIXI JVII^MRKWLSYPHFIEMVIRXVEMRIHERHTVSXIGXIHJVSQJVII^MRK
XIQTIVEXYVIW XLVSYKLSYX XLI WXVYGXYVI 8IQTIVEXYVI YRXMPEXXEMRMRKEXPIEWXTWM14E
QIEWYVMRKHIZMGIWIQFIHHIHMRQQ FIRIEXLXLI
GSRGVIXI WYVJEGI EVI MHIEP FYX TPEGMRK XLIVQSQIXIVW {'SRGVIXI[SVOEFMPMX]
EKEMRWXXLIGSRGVIXIYRHIVXIQTSVEV]GSZIVWSJMRWYPEXMRK *SVJPEX[SVOMRGSPH[IEXLIVPS[IVWPYQTGSRGVIXI[MXLE
QEXIVMEP TVSZMHIW WEXMWJEGXSV] EGGYVEG] ERH IEWI SJ PS[IVXLERRSVQEPWPYQTQMRMQMÎWI\GIWWMZIFPIIH[EXIV
SFWIVZEXMSR 7YGL XIQTIVEXYVIVIGSVHMRK HIZMGIW ERHEPPS[WIEVPMIVWIXXMRK(YVMRKGSPH[IEXLIVFPIIH[EXIV
WLSYPH FI PIJX MR TPEGI XLVSYKLSYX XLI TVSXIGXMSR QE]VIQEMRSRXLIWYVJEGIJSVI\XIRHIHTIVMSHWMRXIVJIVMRK
TIVMSHERH [MXL SV TVSPSRKMRK JMRMWLMRK STIVEXMSRW -J FPIIH [EXIV MW
e 6IGSVHQE\MQYQERHQMRMQYQXIQTIVEXYVI VIEHMRKW JMRMWLIH MRXS XLI GSRGVIXI XLI VIWYPXMRK WYVJEGI [MPP LEZI
MRIEGLLSYVTIVMSH(EXEVIGSVHIHWLSYPHWLS[XLI PS[IV WXVIRKXL ERH FI TVSRI XS HYWXMRK ERH HIXIVMSVEXMSR
XIQTIVEXYVI LMWXSV] SJ IEGL WIGXMSR SJ GSRGVIXI GEWX (YVMRK GSPH [IEXLIV TVSTSVXMSR XLI GSRGVIXI QM\XYVI XS
-RGPYHI E GST] SJ XLI XIQTIVEXYVI VIEHMRKW MR XLI QMRMQMÎ FPIIHMRK -J FPIIH [EXIV MW TVIWIRX WOMQ MX SJJ
TIVQERIRXNSFVIGSVHW1IEWYVIXLIGSRGVIXIXIQTIVEXYVI FIJSVIXVS[IPMRKF]YWMRKEVSTISVLSWI
EXQSVIXLERSRIPSGEXMSRMRXLIWIGXMSRGEWXERHYWIXLI
PS[IWXVIEHMRKXSVITVIWIRXXLIXIQTIVEXYVISJXLEXWIGXMSR ',%48)6{8)14)6%896)3*'32'6)8)
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{,IEXIHIRGPSWYVIW 3*1%8)6-%07
,IEXIH IRGPSWYVIW WLSYPH FI WXVSRK IRSYKL XS FI [MRH {4PEGIQIRXXIQTIVEXYVI
TVSSJ ERH [IEXLIVTVSSJ WS TVSTIV XIQTIVEXYVIW EVI QEMR (YVMRKGSPH[IEXLIVGSRXVSPXLIGSRGVIXIQM\MRKXIQTIV
XEMRIH EX GSVRIVW IHKIW ERH MR XLMR WIGXMSRW 'SQFYWXMSR EXYVIEWHIWGVMFIHMR7IGXMSR ;LIRTPEGMRKGSRGVIXIXLI
LIEXIVWWLSYPHFIZIRXIHERHRSXFITIVQMXXIHXSHMVIGXP]LIEX XIQTIVEXYVI WLSYPH RSX JEPP FIPS[ XLI ZEPYIW MR 0MRI SJ
SV HV] XLI GSRGVIXI *VIWL GSRGVIXI WYVJEGIW I\TSWIH XS 8EFPI(IXIVQMRIXLITPEGIQIRXXIQTIVEXYVISJGSRGVIXI
GEVFSR HMS\MHI VIWYPXMRK JVSQ XLI YWI SJ WEPEQERHIVW SV EGGSVHMRKXS%781''18LIQSVIQEWWMZIXLI
SXLIV GSQFYWXMSR LIEXIVW XLEX I\LEYWX JPYI KEWIW MRXS ER GSRGVIXI WIGXMSR XLI PIWW VETMHP] MX PSWIW LIEX 0S[IV
IRGPSWIH EVIE QE] FI HEQEKIH F] GEVFSREXMSR SJ XLI QMRMQYQ TPEGIQIRX XIQTIVEXYVIW EVI VIGSQQIRHIH JSV
GSRGVIXI'EVFSREXMSRQE]VIWYPXMRWSJXWYVJEGIWSVWYVJEGI PEVKIV GSRGVIXI WIGXMSRW ERH JSV QEWWMZI WXVYGXYVIW MX MW
GVE^MRKHITIRHMRKSRXLIGSRGIRXVEXMSRSJGEVFSRHMS\MHI IWTIGMEPP] FIRIJMGMEP XS LEZI PS[ TPEGIQIRX XIQTIVEXYVIW
XLIGSRGVIXIXIQTIVEXYVIERHXLIVIPEXMZILYQMHMX]VIJIVXS %'-6 'SRGVIXIXIQTIVEXYVIWQYGLLMKLIVXLERXLI
7IGXMSR 'EVFSR QSRS\MHI [LMGL GER VIWYPX JVSQ 0MRI ZEPYIW HS RSX VIWYPX MR E TVSTSVXMSREPP] PSRKIV
TEVXMEPGSQFYWXMSRERHLMKLPIZIPWSJGEVFSRHMS\MHI'3 TVSXIGXMSREKEMRWXJVII^MRKFIGEYWIXLIVEXISJLIEXPSWWMW
EVILEÊVHSYWXS[SVOIVW KVIEXIVJSVPEVKIVXIQTIVEXYVIHMJJIVIRXMEPW
-RHMVIGXERHL]HVSRMGLIEXIVW[MXLJPYIW]WXIQWHMVIGXMRK ,MKLIVXIQTIVEXYVIWVIUYMVIQSVIQM\MRK[EXIVMRGVIEWI
I\LEYWXKEWIWSYXWMHIXLIIRGPSWYVIEVIEIPMQMREXIGEVFSR XLIVEXISJWPYQTPSWWQE]GEYWIUYMGOWIXXMRKERHMRGVIEWI
EXMSRTSXIRXMEPMRWMHIXLIIRGPSWIHLIEXIHEVIE XLIVQEP GSRXVEGXMSR 6ETMH QSMWXYVI PSWW JVSQ I\TSWIH
)RJSVGIWXVMGXJMVITVIZIRXMSRQIEWYVIW*MVIGERHIWXVS] WYVJEGIW SJ JPEX[SVO QE] GEYWI TPEWXMG WLVMROEKI GVEGOW
XLITVSXIGXMZIIRGPSWYVIWERHHEQEKIXLIGSRGVIXI'SRGVIXI 6ETMHQSMWXYVIPSWWGERSGGYVJVSQWYVJEGIWI\TSWIHXSGSPH
GER FIHEQEKIH F] JMVI EX ER]EKI FYXEXZIV] IEVP] EKIW [IEXLIVFIGEYWISJXLIPS[EFWSPYXILYQMHMX]SJXLIGSPHEMV
EHHMXMSREPHEQEKIGERSGGYVF]WYFWIUYIRXJVII^MRKSJXLI %'-6 /IITXLIXIQTIVEXYVISJGSRGVIXIEWTPEGIHEW
GSRGVIXIFIJSVIRI[TVSXIGXMZIIRGPSWYVIWEVITVSZMHIH GPSWI XS XLI VIGSQQIRHIH QMRMQYQ ZEPYI EW TVEGXMGEFPI
4PEGIQIRX XIQTIVEXYVIW WLSYPH RSX FI LMKLIV XLER XLI
{*MRMWLMRKEMVIRXVEMRIHWPEFW QMRMQYQZEPYIWF]QSVIXLER*'
*SV WXIIPXVS[IPIH JPSSV ERH WPEF GSRWXVYGXMSR EMV -J IEVP]EKI WXVIRKXL MW RSX GVMXMGEP WIZIVEP EHQM\XYVI
IRXVEMRIH GSRGVIXI WLSYPH RSX FI WTIGMJMIH -J HYVMRK GSQFMREXMSRW GER FI YWIH XS TVSHYGI E PS[XIQTIVEXYVI
GSRWXVYGXMSRFYXEJXIVXLIGSPH[IEXLIVTVSXIGXMSRTIVMSHXLI EHQM\XYVIW]WXIQXLEXVIHYGIWXLIJVII^MRKXIQTIVEXYVISJE
GSRGVIXI MW PMOIP] XS FI I\TSWIH XS G]GPIW SJ JVII^MRK ERH GSRGVIXI QM\XYVI 8LMW TVEGXMGI TVSHYGIW VIEWSREFPI PSRK
XLE[MRK[LMPIWEXYVEXIHEMVIRXVEMRQIRXQE]FIRIGIWWEV] XIVQ WXVIRKXLW EX GYVMRK XIQTIVEXYVIW PS[IV XLER XLSWI
IZIRXLSYKLXLIGSRGVIXI[MPPRSXFII\TSWIHXSJVII^MRKERH TVIWIRXIH MR 8EFPI /SVLSRIR TVIWIRXW SRI
XLE[MRKMRWIVZMGI;LIVIELEVHXVS[IPIHJMRMWLMWVIUYMVIH EHQM\XYVI GSQFMREXMSR XLEX TVSHYGIW EHIUYEXI VIWYPXW JSV
XLIEHHMXMSRSJEMVIRXVEMRQIRXQE]PIEHXSJMRMWLMRKHMJJMGYPXMIW QER]ETTPMGEXMSRW%WXLIEZEMPEFPIVIWIEVGLMRXLMWEVIEMW
SV TVSFPIQW [MXL FPMWXIVW HIPEQMREXMSRW SV SXLIV WYVJEGI PMQMXIHTVSHYGIERHGYVIXVMEPQM\XYVIWYRHIVXLII\TIGXIH
HIJIGXW 8LIWI JMRMWLMRK TVSFPIQW SJXIR HIZIPST [LIR XLI IRZMVSRQIRXEPGSRHMXMSRW9WIXLIWIXVMEPQM\XYVIWXSIRWYVI
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8EFPI{6IGSQQIRHIHGSRGVIXIXIQTIVEXYVIW
7IGXMSRWMÎQMRMQYQHMQIRWMSR
MRQQ XSMRXSQQ XSMRXSQQ "MRQQ
0MRI %MVXIQTIVEXYVI 1MRMQYQGSRGVIXIXIQTIVEXYVIEWTPEGIHERHQEMRXEMRIH
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''18]TI'EGGIPIVEXMRK SV8]TI)[EXIV
*MK{'SQTVIWWMZIWXVIRKXLSJGSRGVIXIHVMIHMRPEFSVEXSV]
EMVEJXIVTVIPMQMREV]QSMWXGYVMRK4VMGI VIHYGMRK ERH EGGIPIVEXMRK 6IJIV XS 'LETXIV JSV
JYVXLIVMRJSVQEXMSRSRYWMRK'E'PSV8]TI'SV8]TI)
EHQM\XYVIWGSRXEMRMRK'E'P
(YI XS ZEVMEXMSR MR TIVJSVQERGI [MXL HMJJIVIRX GIQIRX
QE]FISJPIWWIVUYEPMX]MRXIVQWSJVIHYGIHPSRKXIVQYPXMQEXI FVERHWERHX]TIWTIVJSVQXIWXWMREHZERGIEXXLIERXMGMTEXIH
WXVIRKXL SV MRGVIEWIH XLIVQEP GVEGOMRK -R WYGL GEWIW XLI GYVMRKXIQTIVEXYVIYWMRKXLIGIQIRXEKKVIKEXIWERHEHQM\
IEVP]EKIWXVIRKXLSJXLIGSRGVIXIQE]FIMRGVIEWIHERHXLI XYVIWTVSTSWIHJSVYWI
HYVEXMSRSJTVSXIGXMSRQE]FIWYFWXERXMEPP]VIHYGIHF]
e -RGVIEWMRKXLIXIQTIVEXYVIHYVMRKTVSXIGXMSRXSEPIZIP {'SSPMRKSJGSRGVIXI
LMKLIVXLERMRHMGEXIHMR0MRISJ8EFPI*MK 8SPS[IVXLIPMOIPMLSSHSJGVEGOMRKHYIXSXLIVQEPWXVIWWIW
MPPYWXVEXIWXLIIJJIGXWSJGYVMRKXIQTIVEXYVISRWXVIRKXL XEOITVIGEYXMSRWXSEWWYVIKVEHYEPGSSPMRKSJGSRGVIXIWYVJEGIW
HIZIPSTQIRX [LIVI WXVIRKXL MW I\TVIWWIH EW E EXXLIXIVQMREXMSRSJXLITVSXIGXMSRTIVMSH6IJIVXS8EFPI
TIVGIRXEKISJXLIWXVIRKXLEXXLIWEQIEKIJSVGYVMRKEX 0MRIJSVVIGSQQIRHIHXIQTIVEXYVIKVEHMIRXW
*' 2SXIXLEX8]TI-ERH---GIQIRXWTVSZMHI
LMKLIVWXVIRKXLWXLER8]TI--EXIEVP]EKIW&IGEYWISJ {)WXMQEXMRKWXVIRKXLHIZIPSTQIRX
ZEVMEXMSRW MR XLI TIVJSVQERGI SJ ER] KMZIR GIQIRX ;LIREHIUYEXIGYVMRKERHTVSXIGXMSRMWTVSZMHIHFYXRS
YWIXLIHEXEMR*MKSRP]EWEKYMHI EGXMSRWEVIXEOIRXSHIXIVQMRIXLIPIZIPSJWXVIRKXLHIZIPSTQIRX
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GSRWIVZEXMZI IWXMQEXIW SJ GSRGVIXI WXVIRKXL EVI VIGSQ 8EFPI{(YVEXMSRSJVIGSQQIRHIHTVSXIGXMSR

QIRHIH-RWYGLGEWIWYWI8EFPIEWEGSRWIVZEXMZIKYMHI JSVTIVGIRXEKISJWXERHEVHGYVIHHE]WXVIRKXL
XS HIXIVQMRI XLI VIGSQQIRHIH HYVEXMSR SJ GYVMRK ERH %X*' HE]W %X*' HE]W
TVSXIGXMSR EX SV * SV ' XS EGLMIZI HMJJIVIRX 4IVGIRXEKISJWXERHEVH 8]TISJGIQIRX 8]TISJGIQIRX
TIVGIRXEKIWSJXLIWXERHEVHGYVIHHE]WXVIRKXL GYVIHHE]WXVIRKXL - -- --- - -- ---

{6IQSZEPSJJSVQWERHWYTTSVXW 4
8LIVIQSZEPSJJSVQWERHWYTTSVXWERHXLITPEGIQIRXERH
VIQSZEPSJVIWLSVIWWLSYPHFIMREGGSVHERGI[MXLXLIVIGSQ
QIRHEXMSRWSJ%'-6 8LIHEXEMRXLMWXEFPI[IVIHIVMZIHJVSQGSRGVIXIW[MXLWXVIRKXLWJVSQXS
TWMXS14E EJXIVHE]WSJGYVMRKEX*' 8LIHE]
e 8LI MRTPEGI WXVIRKXL SJ GSRGVIXI VIUYMVIH XS TIVQMX WXVIRKXLJSVIEGLX]TISJGIQIRX[EWGSRWMHIVIHEW MRHIXIVQMRMRKXLIXMQIWXS
VIQSZEPSJJSVQWERHWLSVIWWLSYPHFIWTIGMJMIHF]XLI VIEGLZEVMSYWTIVGIRXEKIWSJXLMWWXVIRKXLJSVGYVMRKEXERH*ERH'
8LIWI XMQIW EVI SRP] ETTVS\MQEXI ERH WTIGMJMG ZEPYIW WLSYPH FI SFXEMRIH JSV XLI
EVGLMXIGXIRKMRIIV GSRGVIXIYWIHSRXLINSF
e 4IVJSVQ XIWXW SJ JMIPHGYVIH GSRGVIXI WTIGMQIRW SV
RSRHIWXVYGXMZI XIWXW SJ MRTPEGI GSRGVIXI VIJIV XS I :IRXMRKERHGMVGYPEXMSRXSQEMRXEMRIZIRXIQTIVEXYVI
7IGXMSRWERH EX XLI XST ERH XLI FSXXSQ SJ ZIVXMGEP YRMXW WYGL EW
e 2SRHIWXVYGXMZI XIWXMRK WLSYPH FI GSVVIPEXIH [MXL XLI [EPPWTMIVWERHGSPYQRW
EGXYEPGSRGVIXIQM\XYVIYWIHERHZIVMJMIHF]NSFGYVIH e 6IWLSVIWVIQEMRMRTPEGIEWPSRKEWRIGIWWEV]XSWEJIP]
WTIGMQIRW HMWXVMFYXI XLI GSRWXVYGXMSR PSEHW XS XLI PS[IV JPSSVW
e 1IXLSHWXSIZEPYEXIXLIGSRGVIXIWXVIRKXLXIWXWVIWYPXW 8LI RYQFIV SJ XMIVW VIWLSVIH FIPS[ XLI XMIV FIMRK
WLSYPHFIGSQTPIXIP]TVIWGVMFIHMRXLIWTIGMJMGEXMSRW TPEGIHERHLS[PSRKXLIVIWLSVIWVIQEMRMRTPEGIWLSYPH
e % VIGSVH SJ EPP XIWXW EW [IPP EW VIGSVHW SJ [IEXLIV FI FEWIH SR VIPMEFPI IZMHIRGI XLEX WYJJMGMIRX WXVIRKXL
GSRHMXMSRW ERH SXLIV TIVXMRIRX MRJSVQEXMSR WLSYPH FI I\MWXWXSWEJIP]GEVV]XLIETTPMIHPSEHW6IPMEFPIIZMHIRGI
YWIH F] XLI EVGLMXIGXIRKMRIIV MR HIGMHMRK [LIR XS GSRWMWXWSJEGSQFMREXMSRSJGEPGYPEXMSRWERHGSQTVIWWMZI
TIVQMXVIQSZEPSJJSVQWERHWLSVIWERH WXVIRKXLQIEWYVIQIRXWFIJSVIVIQSZMRKWLSVIW
e 8LIVIWLSVMRKTVSGIHYVI[LMGLMWSRISJXLIQSWXGVMXMGEP e 'SRGVIXIMWQEHI[MXL%781''18]TI---
STIVEXMSRWMRJSVQ[SVOWLSYPHFITPERRIHMREHZERGI SV --- TSVXPERH GIQIRX %781 ''1 GIQIRX
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STIVEXMSR WLSYPH FI TIVJSVQIH WS XLEX IEVP]EKI JP]EWLWPEKGIQIRXSVWMPMGEJYQI
GSRGVIXI QIQFIVW EVI RSX WYFNIGXIH XS GSQFMRIH WIPJ e 4VSTIVGYVMRKMWYWIHXSEZSMHHV]MRKSJXLIGSRGVIXIMR
[IMKLX ERH SXLIVGSRWXVYGXMSRPSEHW MR I\GIWW SJXLIMV LIEXIHIRGPSWYVIWVIJIVXS'LETXIV ERH
IEVP]EKI PSEHGEVV]MRK GETEGMX] 8LI IEVP]EKI PSEH e -RWTIGXMSRW EVI TIVJSVQIH XS GLIGO GSQTPMERGI [MXL
GETEGMX]SJEGSRGVIXIQIQFIVWLSYPHFIGSRWIVZEXMZIP] XLITPERWERHWTIGMJMGEXMSRW
GSRWMHIVIHEWFIMRKTVSTSVXMSREPXSXLIMRTPEGIWXVIRKXL
[MXLVIWTIGXXSXLIHIWMKRWXVIRKXLEWHIXIVQMRIH F]XLI {)WXMQEXMRKWXVIRKXLHIZIPSTQIRX{
MRTPEGI WXVIRKXL EX XLI XMQI SJ JSVQ VIQSZEP ERH QSHIPMRKSJGSPH[IEXLIVTPEGIQIRXW
8LITVSTSWIHTVSXIGXMSRWGLIQIGERFIQSHIPIHXSTVIHMGX
VIWLSVMRK6IJIVXS%'-6JSVJYVXLIVMRJSVQEXMSR
GSRGVIXI XIQTIVEXYVIXMQI TVSTIVXMIW %PXLSYKL QIXLSHW
SRWLSVMRKVIWLSVMRKSTIVEXMSRW
PMOI 7GLQMHXvW QIXLSH ,S]X LEZIFIIR YWIHXLIWI
QSHIPWEWWYQIEGSRWXERXWIXSJXLIVQEPTVSTIVXMIWERHHS
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RSXEPPS[JSVXLIMRGPYWMSRSJMRWYPEXMSR
6IGSQQIRHEXMSRW MR XLMW GLETXIV ERH MR 8EFPI EVI
2YQIVSYW GSQQIVGMEP ERH TVSTVMIXEV] GSQTYXIV
FEWIHSRNSFGSRHMXMSRWQIIXMRKXLIWIGSRHMXMSRW
TVSKVEQW LEZI FIIR HIZIPSTIH XLEX KIRIVEPP] IQTPS] XLI
e 8LI MRXIVREP GSRGVIXI XIQTIVEXYVI MW EX PIEWX *
JMRMXIIPIQIRXSVJMRMXIHMJJIVIRGIQSHIPWGLERKMRKFSYRHEV]
' EJXIVTPEGMRKXLIGSRGVIXI8SVIHYGIWYFWIUYIRX
ERHMRMXMEPGSRHMXMSRW 8LIWIEVI YWIJYPXSTVIHMGXRSXSRP]
XLIVQEP GSRXVEGXMSRW I\GIIH XLMW XIQTIVEXYVI EW PMXXPI
XIQTIVEXYVI FYX GSQFMRIH [MXL XLI QEXYVMX] GSRGITX XS
EWTVEGXMGEFPI
TVIHMGXXLIWXVIRKXLSJXLIGSRGVIXIEXPEXIVEKIW
e *EGMPMXMIWEVIEZEMPEFPIXSQEMRXEMRXLIGSRGVIXIXIQTIV 8[SEWWYQTXMSRWGSQQSRP]YWIHHYVMRKQSHIPMRK
EXYVIXLVSYKLSYXXLIWXVYGXYVIEX*' SVEFSZI e )EVP]EKI GSRGVIXI L]HVEXMSR MW RIKPMKMFPI FIPS[ E
YRXMP TVSXIGXMSR MW WEJIP] HMWGSRXMRYIH 7YGL JEGMPMXMIW GSRGVIXIXIQTIVEXYVISJ*' ERH
WLSYPHMRGSVTSVEXIEWVIUYMVIHXLIJSPPS[MRK e *VII^MRK HEQEKI QE] XEOI TPEGI [LIR XLI GSRGVIXI
E 7YMXEFPITVSXIGXMSRJVSQ[MRHERHLIEXPSWW XIQTIVEXYVIHVSTWFIPS[*'
F )JJIGXMZI ERH WYJJMGMIRX LIEXMRK IUYMTQIRX ERH 8LIWIEWWYQTXMSRWEVIGSRWIVZEXMZI8LIJVII^MRKTSMRXSJ
TIVWSRRIPXSQEMRXEMREPPTEVXWSJXLIGSRGVIXIEXXLI XLI GSRGVIXI TSVI [EXIV MW HITVIWWIH JVSQ XLI IJJIGXW SJ
VIUYMVIHXIQTIVEXYVI WSPYFPI QEXIVMEPW GSRXEMRIH MR XLI TSVI[EXIV %W E VIWYPX
G 2IGIWWEV]JMVITVSXIGXMSRIUYMTQIRX WSQIWXVIRKXLKEMR[MPPSGGYVFIPS[*'
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GSYPHFIHIXIVQMRIHJSVQSVIEGGYVEXIQSHIPMRKSJMRHMZMHYEP WYVJEGI &PEROIXW GSRXEMRMRK QMRIVEP [SSP JMFIVKPEWW
TPEGIQIRXW GIPPYPSWI JMFIVW SV STIRGIPP JSEQ QEXIVMEPW EVI RSX
8LIVQEPQSHIPMRKMWYWIHXSTVIHMGXXLIRIIHJSVMRWYPEXMSRSV VIGSQQIRHIHFIGEYWIXLI]HSRSXTIVJSVQ[IPP[LIR[IX
I\XIVREPLIEXMRKERHXSWGLIHYPIWXVMTTMRKWXVIWWMRKSVSXLIV e 7XVE[{7XVE[ MW RSX VIGSQQIRHIH FIGEYWI MX MW FYPO]
WXVIRKXLWIRWMXMZIEGXMZMXMIW LMKLP] JPEQQEFPI MRIJJIGXMZI [LIR[IXERH HMJJMGYPX XS
OIITMRTPEGIIWTIGMEPP]HYVMRK[MRH]GSRHMXMSRWERH
',%48)6{)59-41)281%8)6-%07 e 4SP]IXL]PIRI WLIIXMRK{4SP]IXL]PIRI WLIIXMRK MW E
%2(1)8,3(73*8)14)6%896)4638)'8-32 WYMXEFPI QSMWXYVI FEVVMIV JSV OIITMRK QSMWXYVI JSV
{-RXVSHYGXMSR L]HVEXMSRMRXLIGSRGVIXI3JXIRTSP]IXL]PIRIWLIIXMRK
8LI XIQTIVEXYVISJGSRGVIXI TPEGIHHYVMRKGSPH [IEXLIV MW YWIH [MXL MRWYPEXMSR FPEROIXW LIEXIVW SV FSXL XS
WLSYPH FI QEMRXEMRIH EW GPSWI EW TSWWMFPI XS XLI VIGSQ TVSZMHI[IXGYVMRKERHTVIZIRXGEVFSREXMSR%PXLSYKL
QIRHIH XIQTIVEXYVIW MR 0MRI SJ 8EFPI ERH JSV XLI TSP]IXL]PIRI WLIIXMRK LEW E PS[ XLIVQEP VIWMWXERGI
PIRKXLWSJXMQIVIGSQQIRHIHMR8EFPIYRXMPXLIMRTPEGI 6ZEPYI XLI WLIIXMRK EPSRI GER KVIEXP] VIHYGI
WXVIRKXL LEWVIEGLIH E TVIZMSYWP]IWXEFPMWLIH XEVKIX ZEPYI GSRGVIXIXIQTIVEXYVIPSWWSRGSPH[MRH]HE]W7LIIXMRK
8LI WTIGMJMG TVSXIGXMSR W]WXIQ VIUYMVIH XS QEMRXEMR XLI TVIZIRXW QSMWXYVI IZETSVEXMSR [LMGL MW E WMKRMJMGERX
VIGSQQIRHIH XIQTIVEXYVIW HITIRHW SR JEGXSVW WYGL EW GSSPMRK TVSGIWW IWTIGMEPP] [MXL LMKL [MRHW 9WYEPP]
EQFMIRX[IEXLIVGSRHMXMSRWKISQIXV]SJXLIWXVYGXYVIERH TSP]IXL]PIRIGERFITPEGIHIEVPMIVSRXLIWPEFXLERGER
GSRGVIXI QM\XYVI TVSTSVXMSRW -R WSQI MRWXERGIW [LIR MRWYPEXMSR FPEROIXW WS [IX GYVMRK ERH GSPH[IEXLIV
EQFMIRX[IEXLIVGSRHMXMSRWEVIVIPEXMZIP]QMPHMXQE]SRP] TVSXIGXMSRGERFIKMRWSSRIV
FIRIGIWWEV]XSGSZIVXLIGSRGVIXI[MXLMRWYPEXMRKQEXIVMEPWERH
YWIXLIREXYVEPLIEXSJL]HVEXMSRXSQEMRXEMRXLIVIGSQQIRHIH {7IPIGXMSRSJMRWYPEXMSR[LIRWYTTPIQIRXEV]
XIQTIVEXYVI PIZIPW ,S[IZIV [LIR EQFMIRX XIQTIVEXYVIW LIEXMWRSXYWIH
EVIPS[SV[MRHWEVILMKLSVFSXLMXQE]FIRIGIWWEV]XS 'SRGVIXIXIQTIVEXYVIVIGSVHWVIZIEPXLIIJJIGXMZIRIWWSJ
FYMPH IRGPSWYVIW ERH YWI LIEXIVW XS QEMRXEMR XLI VIGSQ HMJJIVIRXEQSYRXWSVX]TIWSJMRWYPEXMSRERHSJSXLIVTVSXIGXMSR
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ERH MRWYPEXMSR FPEROIXW EVI EHIUYEXI XS QEMRXEMR GSRGVIXI [IEXLIV GSRHMXMSRW 9WMRK XLIWI XIQTIVEXYVI VIGSVHW
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QIXLSHSVWIPIGXIHQEXIVMEPW:EVMSYWQIXLSHWJSVIWXMQEXMRK
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8SFIIJJIGXMZIOIITMRWYPEXMSRMRGPSWIGSRXEGX[MXL 'SRZIVWIP] JSV E KMZIR MRWYPEXMSR W]WXIQ GSRGVIXI
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MRWYPEXMRKQEXIVMEPWMRGPYHI I\TSWIH XS E PS[IV EQFMIRX XIQTIVEXYVI XLER GSRGVIXI
e 4SP]WX]VIRI JSEQ WLIIXW{7LIIXW QE] FI GYX XS WLETI TVSXIGXIHJSVHE]W
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MQTIVZMSYW WS QSMWXYVI HSIW RSX PIWWIR MRWYPEXMRK MRWYPEXMSRZEPYIWMR8EFPIXSGEPGYPEXIXLIXLMGORIWWSJXLI
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%'-6

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Cold Weather Concrete Curing Guide

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H]REQMGTVSTIVXMIWSJXLIGSRGVIXIMRUYIWXMSREXIEVP]EKIW VIJPIGX IQMXXIH VEHMERX IRIVK] FEGO XS XLI MRWYPEXIH

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