172
!"#$%"%&#'(#'"#$%()'*)%#+'*,$-(%#
!"#$%&#'()"*+")*,-%."/0%1
!"#$%&"'('$%)*+,%-$""*
%
.,%*"*#*,/0%1*%('/$"%'#203/$,4'$%*,%*"%1'5*60%*5%*"%40"037%%8,(*5/'9$4'0,*5%
3*(*"$,%:;*%*"%5*3%<;#$,0%43*$%;,$%02','+,%1*%;,$%2*350,$=%*,/03,0%;%0>?*/0%*,%
"05%,0(*,/$%#',;/05%','4'$"*5%4;$,10%2*34'>*%;,$%',@03#$4'+,=%A%:;*%*,/3*%*"%BCD%
$"%EFD%1*%*5*%?;'4'0%*5/G%>$5$10%H,'4$#*,/*%*,%*"%40"037
%
I"% 40"03% ,0% 5+"0% 5;5/*,/$% ;,$% @;,4'+,% *5/J/'4$=% /$#>'J,% *5% ;/'"'K$10% 2$3$%
40#;,'4$3%'1*$5%A%*#04'0,*5=%2$3$%#0/'($3%*%',@";*,4'$3%$44'0,*57%L'*,*%;,%@;*3/*%
201*3% 1*% $/3$44'+,% A% ;/'"'K$% ;,% "*,9;$?*% 2302'0=% /$,/0% ;,'(*35$"% 40#0% "04$"% 1*%
$4;*310% $"% G#>'/0% *,% :;*% 5*$% *M2*3'#*,/$107% N0#0% 1'5*6$103*5% 1*>*#05%
40#23*,1*3%"$%'#203/$,4'$%1*"%40"03%*,%"$%('1$%1*"%5*3%<;#$,0%A%5;%3*"$4'+,%40,%"05%
$#>'*,/*5=%0>?*/05%A%40#;,'4$4'0,*5%:;*%"*%301*$,7%O*>*%40,04*35*%*"%3*4033'10%
<'5/+3'40% 1*% J5/*% *"*#*,/0% /$,/0% *,% "$% #$/*3'$% :;*% "0% /3$,5203/$% 40#0% *,% 5;%
$2"'4$4'+,%*,%1'@*3*,/*5%G#>'/05%A%"$%@03#$%*,%4+#0%*5%2*34'>'10%*,%,;*5/3$%"$/'/;17
!"#$%&'((!)"
%
%
!,$"'K$3% "$% ',/*3$44'+,% 1*% "05% *"*#*,/05% 40#205'/'(05% A% *"% 40"03% 2$3$% "$%
'1*,/'@'4$4'+,% 1*% 1'5/',/05% *5:;*#$5% 1*% 3*"$4'+,% 430#G/'4$% $2"'4$105% 1*,/30% 1*%
/3$>$?05% 1*% $3/'5/$5=% 1'5*6$103*5% A% $3:;'/*4/05% 3*"$4'0,G,10"05% 40,% *"% *,/03,0%
,$/;3$"%1*%PJM'407%
%
O*/*3#',$3% 4+#0% ;,% 230A*4/0% 1*% 1'5*60% 2;*1*% 10/$35*% 1*% ;,% *,@0:;*%
3*/+3'40%40,%$20A0%1*%;,$%1'5205'4'+,%430#G/'4$%2$3$%40,43*/$3%5;%40#;,'4$4'+,7
%*+,#!-%./,",$01
%
%
Q*$"'K$4'+,%1*%;,%"'>30%*"*4/3+,'40%',/*3$4/'(0
%
O'@;5'+,%1*%3*5;"/$105%1*%',(*5/'9$4'+,%$%/3$(J5%1*%"$%2;>"'4$4'+,%1*%;,%% %
%
N$/G"090
%
R3*5*,/$4'+,%1*%3*5;"/$105%*,%$"%#*,05%;,$%*M205'4'+,
2$%&'(#%3
%
%
!,$"'K$3%"05%/3$>$?05%1*%*M20,*,/*5%$3/S5/'405%A%1'5*6$103*5%#*M'4$,05%:;*%%
%
<$,%/3$>$?$10%1*5/$4$1$#*,/*%40,%40#205'4'0,*5%430#G/'4$5%$2"'4$,10%% %
%
/*03S$5%4"G5'4$5%A%$4/;$"*5%50>3*%40"037%
%
N3*$3%;,%4$/G"090%1*%3*@*3*,4'$%40,%"05%40"03*5%#G5%;/'"'K$105%*,%"$%4;"/;3$%%
%
1*%PJM'407%
%
./'"'K$3%"05%2301;4/05%40#0%#$/*3'$"%1*%$20A0%$%*5/;1'$,/*5%A%1'5*6$103*5%%%
%
',/*3*5$105%*,%"$%<'5/03'$%A%"$%$2"'4$4'+,%1*"%40"03%*,%;,%40,/*M/0%1*%PJM'407
4,#03
%%%%%%%%%N0#23*,1*3%*"%;50%A%"$%$2"'4$4'+,%1*"%40"03%*,%*"*#*,/05%3*"$4'0,$105%40,%
"$%4;"/;3$%#*M'4$,$%$%/3$(J5%1*%"$%1*/*3#',$4'+,%1*%43'/*3'05%;/'"'K$105%*,%"05%
(S,4;"05%1*%3*"$4'+,%1*"%40"037
%*+,#!-%3.,32,(56!(%3
%
%
.'/-&)-0'()%#1'#+'1,%#203,'()'
##45678
1...,161,162,163,164,165,166,167,168,169,170 172,173,174,175,176,177,178,179,180,181,...237