Conference PaperPDF Available

Using Design Thinking to create a new education paradigm for elementary level children for higher student engagement and success

  • June 2016
DOI:10.21606/drs.2016.200
  • Conference: DRS 2016
  • At: Brighton, UK
  • Volume: 2
Authors:
Lesley-Ann Noel at North Carolina State University
Lesley-Ann Noel
Tsailu Liu at North Carolina State University
Tsailu Liu
Download full-text PDF
Read full-text
Download citation

Abstract and Figures

Can design education have a positive impact on primary school education beyond merely preparing designers? As designers, we know almost intuitively that design education is ‘good education’, and most designers would affirm that it would be beneficial to expose children to design education, because of the benefits of the signature pedagogies of design, such as problem-based learning, human centred creativity and iterations of prototyping and testing. This paper seeks to review and synthesize existing literature and make preliminary analyses, which will support the development of design thinking education interventions at primary school level, which could lead to a paradigm shift in education at this level. While it has been widely demonstrated that design education can play a successful role in supporting traditional education models in the delivery of skills such as math and language arts, this paper seeks to demonstrate that in addition to meeting traditional education demands, design thinking principles in children’s education, such as empathy, collaboration and facilitation, human-centeredness, and creativity by iterations of prototyping and testing, will provide a sound base for children not only seeking to enter a design profession in the future but moving into any profession in the future and will lead to higher engagement at school and greater success in life.
Figures - uploaded by Lesley-Ann Noel
Author content
All figure content in this area was uploaded by Lesley-Ann Noel
Content may be subject to copyright.
Content uploaded by Lesley-Ann Noel
Author content
All content in this area was uploaded by Lesley-Ann Noel on Oct 02, 2016
Content may be subject to copyright.
!
!
!
!
!
"#$%!&'()!$%!*$+,-%,.!/-.,(!0!1(,02$3,!1'44'-%!522($6/2$'-78'-1'44,(+$0*!9:;!
<-2,(-02$'-0*!=$+,-%,:
>!
!"#$%&'("#%$&)*#$+#$%&,-&./(0,(&0&$(1&(23.0,#-$&
40/02#%5&6-/&(7(5($,0/8&7(9(7&.*#72/($&6-/&*#%*(/&
",32($,&($%0%(5($,&0$2&"3..(""&&
=,%*,?75--!8',*0@!"%0$!=/!=$/6!
08'(2#!10('*$-0!A202,!B-$3,(%$2?!
68'(2#!10('*$-0!A202,!B-$3,(%$2?!
C1'((,%D'-.$-E!0/2#'(!,740$*F!*4-',*G-+%/:,./!
:;",/0.,<&10-! .,%$E-!,./+02$'-!#03,!0!D'%$2$3,!$4D0+2! '-!D($40(?! %+#''*!,./+02$'-!
6,?'-.! 4,(,*?! D(,D0($-E! .,%$E-,(%H! 5%! .,%$E-,(%@! &,! )-'&! 0*4'%2! $-2/$2$3,*?! 2#02!
.,%$E-!,./+02$'-!$%!IE''.!,./+02$'-J@! 0-.!4'%2!.,%$E-,(%!&'/*.!0KK$(4! 2#02!$2!&'/*.!
6,!6,-,K$+$0*!2'! ,LD'%,!+#$*.(,-! 2'!.,%$E-! ,./+02$'-@!6,+0/%,!'K!2#,! 6,-,K$2%!'K! 2#,!
%$E-02/(,! D,.0E'E$,%! 'K! .,%$E-@! %/+#! 0%! D('6*,4760%,.! *,0(-$-E@! #/40-! +,-2(,.!
+(,02$3$2?!0-.!$2,(02$'-%!'K!D('2'2?D$-E!0-.!2,%2$-E:!!!!
"#$%! D0D,(! %,,)%! 2'! (,3$,&! 0-.! %?-2#,%$M,! ,L$%2$-E!*$2,(02/(,! 0-.! 40),! D(,*$4$-0(?!
0-0*?%,%@! &#$+#! &$**! %/DD'(2! 2#,! .,3,*'D4,-2! 'K! .,%$E-! 2#$-)$-E! ,./+02$'-!
$-2,(3,-2$'-%! 02! D($40(?! %+#''*! *,3,*@! &#$+#! +'/*.! *,0.! 2'! 0! D0(0.$E4! %#$K2! $-!
,./+02$'-!02!2#$%!*,3,*:!N#$*,!$2!#0%!6,,-!&$.,*?!.,4'-%2(02,.!2#02!.,%$E-!,./+02$'-!
+0-!D*0?!0! %/++,%%K/*!('*,! $-!%/DD'(2$-E!2(0.$2$'-0*! ,./+02$'-!4'.,*%!$-! 2#,!.,*$3,(?!
'K! %)$**%! %/+#! 0%! 402#! 0-.! *0-E/0E,! 0(2%@! 2#$%! D0D,(! %,,)%! 2'! .,4'-%2(02,! 2#02! $-!
0..$2$'-! 2'! 4,,2$-E! 2(0.$2$'-0*! ,./+02$'-! .,40-.%@! .,%$E-! 2#$-)$-E! D($-+$D*,%! $-!
+#$*.(,-J%! ,./+02$'-@! %/+#! 0%! ,4D02#?@! +'**06'(02$'-! 0-.! K0+$*$202$'-@! #/40-7
+,-2,(,.-,%%@! 0-.! +(,02$3$2?! 6?!$2,(02$'-%! 'K! D('2'2?D$-E! 0-.! 2,%2$-E@! &$**! D('3$.,!0!
%'/-.! 60%,!K'(!+#$*.(,-! -'2! '-*?! %,,)$-E!2'!,-2,(!0! .,%$E-! D('K,%%$'-! $-!2#,!K/2/(,!
6/2!4'3$-E!$-2'!0-?!D('K,%%$'-!$-!2#,! K/2/(,!0-.!&$**!*,0.!2'! #$E#,(!,-E0E,4,-2! 02!
%+#''*!0-.!E(,02,(!%/++,%%!$-!*$K,:!
=(81-/2"F!D($40(?!,./+02$'-@!.,%$E-!2#$-)$-E@!.,%$E-!,./+02$'-@!,4D02#?@!+'E-$2$3,!
.,3,*'D4,-2!
>?&@$,/-23.,#-$&&
<-!2#,!$-2('./+2$'-!2'!2#,!6'')!OP>%2!1,-2/(?!A)$**%!Q!=,0(-$-E!K'(!=$K,!$-!R/(!"$4,%S@!"($**$-E!
0-.!T0.,*!+#0**,-E,!2#,$(!0/.$,-+,!2'!+'-%$.,(!&#02!*,0(-$-E!&'/*.!6,!*$),!$K!$2!&,(,!
.,%$E-,.!K'(!0!K/2/(,!2&,-2?!?,0(%!0&0?@!0('/-.!%)$**%!2#02!+#$*.(,-!&'/*.!-,,.!2'!6,!
!"#!"$%&''(')"!*(+#&,(!-(!,-
P!
%/++,%%K/*!$-!2#,!K/2/(,!U"($**$-E!0-.!T0.,*!P;;VW:!5!%2/.?!+'-./+2,.!&$2#!9;;!#$($-E!
,L,+/2$3,%!'K!40X'(!+'(D'(02$'-%!#$E#*$E#2,.!%,3,-!60%$+!0-.!0DD*$,.!%)$**%!*0+)$-E!$-!
%,+'-.0(?!0-.!2,(2$0(?!*,3,*!E(0./02,%@!&#$+#!0(,!.,%+($6,.!0%!2#,!O2&,-2?7K$(%2!+,-2/(?!
E0DS!6?!"($**$-E!0-.!T0.,*!"#,%,!*0+)$-E!%)$**%!0(,F!'(0*!0-.!&($22,-!+'44/-$+02$'-@!+($2$+0*!
2#$-)$-E!0-.!D('6*,47%'*3$-E!%)$**%@!D('K,%%$'-0*$%4!0-.!&'()!,2#$+@!2,04&'()!0-.!
+'**06'(02$'-@!&'()$-E!$-!.$3,(%,!2,04%@!0DD*?$-E!2,+#-'*'E?@!*,0.,(%#$D!0-.!D('X,+2!
40-0E,4,-2!U"($**$-E!0-.!T0.,*!P;;VW:!!
"#,%,!2&,-2?7K$(%2!+,-2/(?!%)$**%!(,%,46*,!*,0(-$-E!'/2+'4,%!K('4!40-?!.,%$E-!+'/(%,%F!
O*,0(-$-E!0-.!$--'302$'-!%)$**%@!+($2$+0*!2#$-)$-E!0-.!D('6*,4!%'*3$-E@!+'44/-$+02$'-%!0-.!
+'**06'(02$'-!%)$**%!0-.!.$E$20*!'(!<1"!*$2,(0+?S:!"#,!.,%$(06*,!4'.,*!K'(!P>%2!+,-2/(?!*,0(-$-E!
2#02!"($**$-E!0-.!T0.,*!D('D'%,!0*%'!%,,4%!2'!.,%+($6,!0!.,%$E-!+*0%%!&$2#!2,04%!&'()$-E!
2'E,2#,(!2'!%'*3,!D('6*,4%@!2,+#-'*'E?!$-K/%,.!+/(($+/*0@!(,0*7&'(*.!+#0**,-E,%@!D('X,+2!
60%,.!*,0(-$-E!0-.!0!K'+/%!'-!$--'302$'-!0-.!+(,02$3$2?!U"($**$-E!0-.!T0.,*!P;;VW:!<2!$%!,3$.,-2!
$-!2#,!*$2,(02/(,!2#02!,*,4,-20(?@!Y7Z!'(!D($40(?!*,3,*!,./+02$'-!U,./+02$'-!K'(!+#$*.(,-!0E,.!
0DD('L$402,*?![!Q!>>!?,0(%!'*.W!$%!I($D,J!K'(!0-!'3,(#0/*:!"(0.$2$'-0*!,./+02$'-!&0%!
.,3,*'D,.!2'!D(,D0(,!+#$*.(,-!K'(!&'()!$-!2#,!<-./%2($0*!0E,@!6/2!,+'-'4$,%!0(,!-'&!4'3$-E!
$-2'!2#,!Y-'&*,.E,!5E,!U"($**$-E!0-.!T0.,*!P;;VW:!\/%$-,%%,%!0-.!+'/-2($,%!&$**!(,]/$(,!
D,'D*,!&#'!0(,!06*,!2'!D*0?!0!('*,!$-!6/$*.$-E!2#,!)-'&*,.E,!,+'-'4?!0-.!2#,%,!D,'D*,!&$**!
6,!$--'302$3,@!+(,02$3,!D('6*,47%'*3,(%:!<2!$%!2#,!0DD('D($02,!2$4,!2'!6($-E!.,%$E-!4,2#'.%!
0-.!D,.0E'E$,%!$-2'!40$-%2(,04!,./+02$'-!2'!#,*D!*0?!0!%'/-.!60%,!K'(!2#,!.,3,*'D4,-2!'K!
$--'302$3,@!D('6*,4!%'*3,(%!&#'!&$**!#03,!2#,!-,,.,.!%)$**%!K'(!2#,!P>%2!+,-2/(?!0-.!6,?'-.:!!
!
"#,!0$4!'K!2#$%!D0D,(!$%!2'!#$E#*$E#2!D'%%$6$*$2$,%!K'(!0!D0(0.$E402$+!%#$K2!$-!,*,4,-20(?!'(!
D($40(?7*,3,*!,./+02$'-@!0*%'!(,K,((,.!2'!0%!Y7Z@!2#('/E#!0!60%,!'-!.,%$E-!D('+,%%!0-.!
.,%$E-!2#$-)$-E:!!<-!2#$%!D0D,(!,L$%2$-E!*$2,(02/(,!&$**!6,!(,3$,&,.!0-.!%?-2#,%$M,.!2'!40),!
D(,*$4$-0(?!0-0*?%,%:!^'&,3,(!$-!2#$%!D0D,(@!2#,!0/2#'(%!%,,)!2'!.,4'-%2(02,!2#02!.,%$E-!
,./+02$'-!D('3$.,%!0!%'/-.!60%,!K'(!-'2!'-*?!2(0.$2$'-0*!0+0.,4$+!,./+02$'-!'(!K'(!
D('K,%%$'-0*%!&#'!&$**!E'!'-!2'!&'()!$-!0!.,%$E-!0-.!)-'&*,.E,760%,.!$-./%2($,%@!6/2!4'(,!
$4D'(20-2*?!2#02!2#,!%)$**%!$4D0(2,.!2#('/E#!.,%$E-!,./+02$'-!%/+#!0%!D('6*,4!%'*3$-E!%)$**%!
*$),!$--'302$'-@!+/($'%$2?!0-.!+($2$+0*!2#$-)$-E@!0-.!%'+$0*!%)$**%!'K!,4D02#?@!+'**06'(02$'-!0-.!
K0+$*$202$'-@!E'!6,?'-.!2#,!%D,+$K$+!)-'&*,.E,7K'+/%,.!K$,*.%!0-.!*0?%!0!%'/-.!60%,!K'(!0-?!
+0(,,(@!2#,(,K'(,!.,4'-%2(02$-E!#'&!.,%$E-!2#$-)$-E!60%,.!,./+02$'-!K'(!+#$*.(,-!+'/*.!6,!
0!3,(?!/%,K/*!D0(0.$E4!2'!6,!0.'D2,.:!
!
!
A?&A>",&.($,3/8&"+#77"&0$2&4/(2#.,-/"&-6&",32($,&"3..(""&
N#$*,!4'%2!+#$*.(,-!0(,!,L+$2,.!06'/2!%+#''*!$-!2#,$(!,0(*?!?,0(%@!2#$%!,L+$2,4,-2!06'/2!
*,0(-$-E!K0**%!'KK!0%!2#,?!0DD('0+#!2#,!,-.!'K!D($40(?!%+#''*!6,+0/%,!0W!*,0(-$-E!%2'D%!6,$-E!
-./01(23./10(+4/05/01(67(893:63(:(03;(3<=8:6/70(>:9:</1?(@79(3A3?306:9B(A3C3A(84/A<930(@79(4/1439(
.6=<306(301:13?306(:0<(.=883..((
!
3"
K/-!6W!2#,?!6,E$-!2'!+'4D0(,!2#,4%,*3,%!&$2#!,0+#!'2#,(!0-.!+W!6,+0/%,!2#,?!6,E$-!2'!K,,*!
2#,!$4D0+2!'K!%20-.0(.$M,.!2,%2$-E!U=,3$-,!P;>PW:!!
!
=$2,(02/(,!'-!+#$*.(,-J%!%/++,%%!$-.$+02,%!2#02!+#$*.(,-J%!K/2/(,!%/++,%%!$-!*$K,!$%!-'2!D(,.$+2,.!
6?!2#,$(!0+0.,4$+!'/2D/2:!R2#,(!-'-70+0.,4$+!06$*$2$,%!0(,!%,,-!0%!E(,02,(!$-.$+02'(%!'K!
+#$*.(,-J%!%/++,%%!2#0-!0+0.,4$+!'/2D/2%:!_%?+#'*'E$%2!`0.,*$-,!=,3$-,!UP;>PW!$.,-2$K$,%!
%,3,-!I+'D$-EJ!%)$**%@!&#$+#!0(,!),?!K'(!+#$*.(,-J%!.,3,*'D4,-2F!!
• ,-2#/%$0%4@!!
• a,%'/(+,K/*-,%%F!1#$*.(,-!&#'!0(,!(,%'/(+,K/*!+0-!E,2!2#,4%,*3,%!'/2!'K!.$KK$+/*2!
%$2/02$'-%!0-.!&$**!2(?!'/2!.$KK,(,-2!&0?%!'K!+'D$-E!2'!K$-.!2#,!4'%2!,KK$+$,-2!%'*/2$'-!!
• 1(,02$3$2?F!1(,02$3$2?!,-+'/(0E,%!+#$*.(,-!2'!,LD,($4,-2!0-.!2'!0DD('0+#!D('6*,4%!$-!
.$KK,(,-2!&0?%!
• 5!E''.!&'()!,2#$+F!=,3$-,!-'2,%!2#02!0!E''.!&'()!,2#$+!0-.!0+0.,4$+!,-E0E,4,-2!E'!
2'E,2#,(!!
• A,*K!+'-2('*F!A,*K!+'-2('*!$%!06'/2!.,3,*'D$-E!0-.!$-2,(-0*$M$-E!'-,J%!'&-!(/*,%@!0-.!
6,$-E!.$(,+2,.!6?!'-,J%!E''.!+#'$+,%!!
• A,*K!b%2,,4F!1#$*.(,-!&$2#!#$E#!%,*K!,%2,,4!D,(K'(4!6,22,(!0+0.,4$+0**?!0-.!%'+$0**?:!
• A,*K!bKK$+0+?F!"#,!6,*$,K!2#02!'-,!D*0?%!0!%$E-$K$+0-2!('*,!$-!'-,J%!.,%2$-?!0-.!%/++,%%@!
0*%'!.,%+($6,.!0%!I0E,-+?J!6?!D%?+#'*'E$%2%!!
=,3$-,!*04,-2%!2#02!2#,!0+0.,4$+!%?%2,4!$-!2#,!B-$2,.!A202,%!K'+/%,%!'-!2,%2$-E!0!*$4$2,.!
(0-E,!'K!%)$**%!Q!D($40($*?!`02#,402$+%!0-.!b-E*$%#@!0-.!2#$%!K'+/%!'-!2,%2$-E!2#$%!*$4$2,.!
(0-E,!0KK,+2%!2#,!.,3,*'D4,-2!'K!+($2$+0*!2#$-)$-E!%)$**%!$-!2#,!+/(($+/*/4:!U=,3$-,!P;>PW:!"#,!
K'+/%!'-!0+0.,4$+!%/++,%%!$%!$-!K0+2!0!%$E-$K$+0-2!+'-2($6/2'(!2'!,4'2$'-0*!.$%2(,%%!04'-E!
54,($+0-!?'/2#!U=,3$-,!P;>PW@!0-.!2#,!*$4$2,.!.,K$-$2$'-!'K!%/++,%%!,L+*/.,%!40-?!
$-.$3$./0*%!&#'!#03,!2#,!D'2,-2$0*!2'!6,!30*/06*,!+'-2($6/2'(%!2'!%'+$,2?:!"#'/E#!%#,!
$.,-2$K$,%!2#,!%,3,-!+'D$-E!%)$**%@!2#('/E#'/2!#,(!6'')@!=,3$-,!(,K,(%!2'!40-?!'2#,(!
$4D'(20-2!]/0*$2$,%!2#02!$4D0+2!+#$*.(,-J%!%/++,%%:!A#,!#$E#*$E#2%!2#,!$4D'(20-+,!'K!+/($'%$2?!
0-.!0%)$-E!]/,%2$'-%:!5++'(.$-E!2'!#,(@!+#$*.(,-J%!]/,%2$'-%!0.30-+,!2#,$(!+($2$+0*!2#$-)$-E!
0-.!+(,02$3,!06$*$2$,%!0-.!0%)$-E!2#,!($E#2!]/,%2$'-%!*,0.%!2'!E(,02,%2!D'%%$6$*$2$,%!K'(!*,0(-$-E!
U=,3$-,!P;>PW:!=,3$-,!,-+'/(0E,%!D0(,-2%!2'!30*/,!0+0.,4$+!($%)720)$-E@!&#$+#!4,0-%!2#02!
+#$*.(,-!%#'/*.!K'+/%!4'(,!'-!]/,%2$'-%!2#0-!0-%&,(%!U=,3$-,!P;>PW:!N#$*,!4'%2!+#$*.(,-!
+0-!4,4'($M,!$-K'(402$'-@!+/($'%$2?@!D,(%$%2,-+,!0-.!,-E0E,4,-2!0(,!$-!K0+2!2#,!.($3,(%!'K!
*$K,*'-E!*,0(-$-E!U=,3$-,!P;>PW:!!A#,!-'2,%!2#02!$-2,(-0*!4'2$302$'-!$%!+'((,*02,.!&$2#!D'%$2$3,!
'/2+'4,%!%/+#!0%!#$E#,(!0+0.,4$+!0+#$,3,4,-2!0-.!*,%%!,4'2$'-0*!D('6*,4%!U=,3$-,!P;>PW:!
A#,!-'2,%!2#,!$4D'(20-+,!'K!,4D02#?@!&#$+#!$%!0!%)$**!2#02!#0%!2'!6,!.,3,*'D,.!$-!+#$*.(,-!
U=,3$-@!P;>PW@!0-.!%/EE,%2%!2#02!2#,!,LD*'%$'-!'K!6/**?$-E!$-!,*,4,-20(?!%+#''*!$%!0-!$-.$+02'(!
2#02!%'+$,2?!#0%!-'2!6,,-!%/++,%%K/*!$-!D('4'2$-E!,4D02#?!04'-E!+#$*.(,-!U=,3$-,!P;>PW:!!
!"#!"$%&''(')"!*(+#&,(!-(!,-
9!
_0/*!"'/E#@!#$E#*$E#2%!%'4,!.$KK,(,-2!]/0*$2$,%@!2#02!02!2$4,%!'3,(*0D!&$2#!=,3$-,J%@!2#02!0(,!
3$20*!2'!+#$*.(,-J%!%/++,%%:!T'(!"'/E#@!2#,!+'46$-02$'-!'K!%2(,-E2#%!2#02!0(,!4'%2!*$),*?!2'!
D(,.$+2!+#$*.(,-J%!%/++,%%!0(,F!IE($2J@!%,*K7+'-2('*@!M,%2@!%'+$0*!$-2,**$E,-+,@!E(02$2/.,@!'D2$4$%4!
0-.!+(,02$3$2?!U"'/E#!P;>cW:!<-!0..$2$'-!2'!2#,!*$%2,.!%2(,-E2#%@!"'/E#!$-!#$%!6'')!#$E#*$E#2%!
2#,!$4D'(20-+,!'K!4'2$302$'-!0-.!3'*$2$'-@!&$**D'&,(@!+'-%+$,-2$'/%-,%%@!&#$+#!$%!$-!K0+2!2#,!
2(0$2!2#02!4'%2!D(,.$+2,.!&'()D*0+,!%/++,%%@!+#0(0+2,(!Q!'(!I-$+,!E/?!30*/,%J@!+'E-$2$3,!
K*,L$6$*$2?!'(!2#,!06$*$2?!2'!3$%/0*$M,!0*2,(-02$3,!%'*/2$'-%!2'!D('6*,4%!0-.!+'E-$2$3,!%,*K7
+'-2('*!'(!2#,!06$*$2?!2'!(,%$%2!0-!$-%2$-+2$3,!(,%D'-%,!$-!K03'/(!'K!0!*,%%!'63$'/%!%'*/2$'-!
U"'/E#!P;>cW:!!
_%?+#'*'E$%2@!10('*!d&,+)@!#0%!.,3,*'D,.!0!2#,'(?!'-!%2/.,-2!4'2$302$'-!2#02!D'$-2%!2'!2#,!
.$KK,(,-+,%!6,2&,,-!0!E('&2#!4$-.%,2!0-.!0!K$L,.!4$-.%,2:!T'(!+#$*.(,-!&$2#!0!E('&2#!
4$-.%,2!%/++,%%!$%!06'/2!%2(,2+#$-E!2#,4%,*3,%!0-.!*,0(-$-E!-,&!)-'&*,.E,@!&#,(,0%!K'(!
+#$*.(,-!&$2#!0!K$L,.!4$-.%,2@!%/++,%%!$%!06'/2!D('3$-E!2#02!2#,?!0(,!I%40(2J:!T0$*/(,!$-!2#,!
K$L,.!4$-.%,2!$%!0%%'+$02,.!&$2#!%2/D$.$2?!0-.!d&,+)!%/EE,%2%!2#$%!4$-.%,2@!&#$+#!$%!&$.,*?!
D('4'2,.!02!%+#''*%@!+0-!D/2!0-!,-.!2'!0-!$-2,(,%2!$-!*,0(-$-E!Ud&,+)!P;;ZW:!!!!A2/.,-2%!&$2#!
2#,!E('&2#!4$-.%,2!&,*+'4,!2#,!+#0**,-E,!'K!*,0(-$-E!2#02!K0$*/(,!6($-E%:!d&,+)!
0+)-'&*,.E,%!2#02!#,(!'&-!+#0-E,!2'!0!E('&2#!4$-.%,2!(,%/*2,.!$-!#,(!6,+'4$-E!4'(,!
+'/(0E,'/%!0-.!'D,-!0-.!*,0.$-E!0!($+#,(!*$K,:!!
"#,!.,%$E-,(!0-.!.,%$E-!,./+02'(!&'/*.!(,+'E-$%,!2#02!40-?!'K!2#,!022($6/2,%!.,%+($6,.!6?!
=,3$-,!0-.!"'/E#@!0-.!,3,-!2#,!E('&2#!4$-.%,2!D('4'2,.!6?!d&,+)!+0-!0-.!0(,!$-!K0+2!6,!
(,$-K'(+,.!$-!.,%$E-!,./+02$'-:!N#$*,!2#,!+'-2,4D'(0(?!$-2,(,%2!$-!A"b`!,./+02$'-!#0%!*,.!
2'!4/+#!.$%+/%%$'-!'-!#'&!,LD'%/(,!2'!.,%$E-!,./+02$'-@!&$2#!$2%!2(0.$2$'-0*!+'-%2(/+2$3$%2!
60%,!$-!0(2!,./+02$'-@!+0-!D*0?!0!E(,02!('*,!$-!#,*D$-E!40),!06%2(0+2!+'-+,D2%!%/+#!0%!%+$,-+,!
0-.!402#!4'(,!+'-+(,2,!2#('/E#!2#,!40-$D/*02$'-!'K!402,($0*%!0-.!2#,!0+2!'K!40)$-E@!0-.!
2#,(,K'(,!$4D('3$-E!0+0.,4$+!D,(K'(40-+,@!0!E(,02,(!6,-,K$2!'K!,LD'%/(,!2'!.,%$E-!
,./+02$'-@!40?!$-!K0+2!6,!2#,!.,3,*'D4,-2!'K!2#,%,!-'-70+0.,4$+!]/0*$2$,%@!&#$+#!+0-!
D,(#0D%!D*0?!0-!,3,-!E(,02,(!('*,!$-!D(,D0($-E!%2/.,-2%!K'(!2#,$(!K/2/(,!%/++,%%:!
!
B?&)*(&(9-79#$%&2#".#47#$(&-6&'("#%$&
8$E,*!1('%%!$.,-2$K$,%!.,%$E-!0%!0!I4/*2$K0+,2,.!+'E-$2$3,!%)$**J!0-.!0!-02/(0*!$-2,**$E,-+,@!0)$-!
2'!e0(.-,(J%!4/*2$D*,!$-2,**$E,-+,%@!&#$+#!,3,(?'-,!#0%!-'2!X/%2!.,%$E-,(%!U1('%%!P;>>W:!
^'&0(.!e0(.-,(J%!"#,'(?!'K!4/*2$D*,!$-2,**$E,-+,%!D('D'%,%!2#02!&,!0**!#03,!30($'/%!*,3,*%!
'K!$-2,**$E,-+,!0+('%%!0!(0-E,!'K!$-2,**,+2/0*!0(,0%:!"#,%,!4/*2$D*,!$-2,**$E,-+,%!0**'&!*,0(-,(%!
2'!*,0(-!$-!.$KK,(,-2!&0?%:!"#,!-$-,!$-2,**$E,-+,%!'K!e0(.-,(J%!"#,'(?!0(,!*$%2,.!6,*'&F!!
=$-E/$%2$+!
='E$+0*f402#,402$+0*!
`/%$+0*!
AD02$0*!f3$%/0*!
Y$-0,%2#,2$+!
<-2,(D,(%'-0*!!
!
<-2(0D,(%'-0*!
802/(0*$%2$+!
bL$%2,-2$0*!!
!
-./01(23./10(+4/05/01(67(893:63(:(03;(3<=8:6/70(>:9:</1?(@79(3A3?306:9B(A3C3A(84/A<930(@79(4/1439(
.6=<306(301:13?306(:0<(.=883..((
!
5"
U_($2+#0(.!P;>cW:!
T'(!1('%%@!I.,%$E-!$-2,**$E,-+,J!$-3'*3,%!I.,,D!(,K*,+2$3,!$-2,(0+2$'-J!'-!D('6*,4%!0-.!
%'*/2$'-%@!0-.!2#,!+0D0+$2?!'K!K*,L$6$*$2?!0-.!2#,!06$*$2?!2'!%&$2+#!6,2&,,-!2#$-)$-E!0-.!.'$-E:!
U1('%%!P;>>W:!<-!'(.,(!2'!0+#$,3,!2#$%@!.,%$E-,(%!#03,!%)$**%!'K!I(,7'(E0-$M$-EJ!D('6*,4%!%'!
2#02!2#,?!+0-!6,!$-2,(D(,2,.!.$KK,(,-2*?@!0!D('+,%%!2#02!#,!-04,%!I(,7K(04$-EJg!+'-./+2$-E!
(,%,0(+#!2'!K$-.!.020@!0-.!0-0*?%$-E!2#,!D('6*,4!.020!2'!+(,02,!D022,(-%!&#$+#!%/EE,%2!
D'%%$6*,!%'*/2$'-%!U1('%%!P;>>W:!!1('%%!%2(,%%,%!2#02!2#'/E#!.,%$E-,(%!0(,!0.4$(,.!K'(!2#,$(!
%'*/2$'-%@!$2!$%!(,0**?!2#,$(!%)$**!$-!K$-.$-E!2#,!($E#2!D('6*,4%!&#$+#!%,D0(02,%!IE''.J!.,%$E-!
K('4!4,.$'+(,!'(!*,%%!0++,D206*,!.,%$E-!U1('%%!P;>>W:!!
d,%$E-,(%!0(,!06*,!2'!K$-.!($+#!%'*/2$'-%!K('4!2#,!+'4D*,L$2?!'K!2#,!'D,-@!+'4D*,L@!
-,2&'(),.!0-.!.?-04$+!-02/(,!'K!+'-2,4D'(0(?!D('6*,4%@!0-.!0%!0!(,%/*2!*,0.$-E!
$--'302'(%!0(,!$-+(,0%$-E*?!+'4$-E!2'!2#$%!D('K,%%$'-!K'(!#,*D!$-!0..(,%%$-E!2#,%,!+'4D*,L!
D('6*,4%!Ud'(%2!P;>[W:!!Y,,%!d'(%2!.,%+($6,%!2'.0?J%!D('6*,4%!0%!I'D,-@!+'4D*,L@!.?-04$+!
0-.!-,2&'(),.J!0-.!,4D#0%$M,%!2#02!2#,%,!+'-2,4D'(0(?!D('6*,4%!+0--'2!6,!%'*3,.!/%$-E!
+'-3,-2$'-0*!D('6*,4!%'*3$-E!4,2#'.'*'E?@!%$-+,!-,&!D('6*,4%!-,,.!(0.$+0**?!.$KK,(,-2!
(,%D'-%,%!Ud'(%2!P;>[W:!!^,!.,6/-)%!%'4,!'K!2#,!4?2#%!06'/2!.,%$E-!Q!2#02!$2!$%!$((02$'-0*@!
4?%2,($'/%!0-.!X/%2!06'/2!+(,02$-E!6,0/2?@!.,4'-%2(02$-E!2#02!.,%$E-!D(0+2$+,%!#03,!
I402/(,.!$-2'!0!(,0*!0*2,(-02$3,!2'!+'-3,-2$'-0*!D('6*,4!%'*3$-E!%2(02,E$,%J:!Ud'(%2!P;>[W:!!
d,./+2$'-@!$-./+2$'-!0-.!06./+2$'-!0(,!K'(4%!'K!(,0%'-$-E:!<-!.,./+2$3,!(,0%'-$-E!0!
+'-+*/%$'-!$%!E/0(0-2,,.!&#$*,!$-!$-./+2$3,!(,0%'-$-E!0!+'-+*/%$'-!$%!'-*?!4,(,*?!*$),*?:!
d,%$E-,(%!'K2,-!/%,!06./+2$3,!(,0%'-$-E@!&#$+#!6,E$-%!&$2#!$-+'4D*,2,!$-K'(402$'-@!&#$+#!
$%!/%,.!2'!K'(4!2#,!4'%2!*$),*?!+'-+*/%$'-:!d'(%2!.$KK,(,-2$02,%!6,2&,,-!I-'(40*!06./+2$3,!
(,0%'-$-EJ!0-.!I.,%$E-!06./+2$3,!(,0%'-$-EJ:!^,!.,%+($6,%!-'(40*!06./+2$'-!&$2#!2#,!
K'**'&$-E!,]/02$'-F!!
DDD(E(F)G(H(7=687?3.((
&#,(,!2#,!,]/02$'-!K'(!.,%$E-!06./+2$'-!$%F!!
DDDEDDD(H(7=687?3.((
%#'&$-E!2#02!$-!.,%$E-!06./+2$'-!2#,!I#'&J!$%!0*%'!]/,%2$'-,.@!0-.!2#,!2&'!/-)-'&-%!*,0.!
2'!+(,02$3,!$--'302$'-!Ud'(%2!P;>[W:!<-!2#,$(!D('+,%%!.,%$E-,(%!40),!/-/%/0*!0-.!$-2,(,%2$-E!
+'--,+2$'-%!2'!+(,02,!-,&!I&#02%J!0-.!I#'&%J!0-.!2,%2!2#,4!./($-E!2#,$(!$2,(02$3,!D('+,%%:!
5++'(.$-E!2'!d'(%2@!2#,!2#$-)$-E!0+('%%!2#,!.,%$E-!D('K,%%$'-%!$%!K/-.04,-20**?!.$KK,(,-2!2'!
'2#,(!D('K,%%$'-%!2#02!0(,!60%,.!'-!.,./+2$3,@!$-./+2$3,!0-.!-'(40*!06./+2$3,!(,0%'-$-E!
Ud'(%2!P;>[W:!"#,!$2,(02$3,!D('+,%%!'K!.,%$E-!40?!$-!K0+2!*,0.!2'!d&,+)J%!E('&2#!4$-.%,2!
%$-+,!.,%$E-,(%!0(,!,-+'/(0E,.!2'!.,3,*'D!-,&!%'*/2$'-%!0-.!2,%2!2#,4!40-?!2$4,%!
2#('/E#'/2!2#,!D('+,%%:!"#,!D'%%$6$*$2?!'K!K0$*/(,!0*&0?%!,L$%2%!$-!2#,!.,%$E-!D('+,%%@!0-.!
&#,-!K0+,.!&$2#!IK0$*/(,J@!.,%$E-,(%!%20(2!2#,!D('+,%%!'3,(:!!
T'(!D%?+#'*'E$%2!`0.,*$-,!=,3$-,@!2#,!06$*$2?!2'!0%)!E''.!]/,%2$'-%!+#0(0+2,($M,%!$-2,**$E,-+,!
0-.!+(,02$3$2?!Q!4/+#!-,,.,.!%)$**%!K'(!2#,!K/2/(,!,-3$%$'-,.!6?!"($**$-E!0-.!T0.,*:!d'(%2!0-.!
!"#!"$%&''(')"!*(+#&,(!-(!,-
Z!
1('%%!.,4'-%2(02,!2#02!.,%$E-,(%!2#$-)!$-!0!&0?!2#02!$%!.$KK,(,-2!2'!'2#,(!D('K,%%$'-0*%:!
_,(#0D%!.,%$E-760%,.!D($40(?!,./+02$'-!.,3,*'D,.!&$2#!0!K'+/%!'-!+/($'%$2?@!D('6*,4!
K(04$-E!0-.!(,7K(04$-E!0-.!.,3,*'D$-E!0-.!0%)$-E!2#,!($E#2!]/,%2$'-%!+'/*.!#03,!%$E-$K$+0-2!
$4D*$+02$'-%!'-!.,3,*'D$-E!%)$**%!2#02!#03,!6,,-!$.,-2$K$,.!0%!-,,.,.!K'(!P>%2!+,-2/(?!
%/++,%%:!
<-!2#,!.,%$E-!D('+,%%!0!IK(04,J!$%!0!-,&!&0?!'K!%,,$-E!0!D('6*,4!%$2/02$'-@!&#$+#!(,%/*2%!
K('4!.,%$E-!06./+2$'-!Ud'(%2!P;>[W:!d,%$E-,(%!E'!2#('/E#!2#,!$2,(02$3,!D('+,%%!'K!,L04$-$-E!
2#,!D('6*,4!%D0+,!UK(04$-EW!0-.!(,0-0*?%$-E!0-.!(,K(04$-E!2#,!D('6*,4!$K!2#,!.,%$E-!
%'*/2$'-!2#,?!#03,!.,3,*'D,.!$%!-'2!%02$%K0+2'(?!Ud'(%2!P;>[W:!d,%$E-,(%!2(?!2'!2#$-)!2#('/E#!
40-?!%'*/2$'-!D'%%$6$*$2$,%!6,K'(,!+'44$22$-E!2'!.,3,*'D$-E!'-,!$-!.,20$*:!!
C?&D#%$0,3/(&4(20%-%#("&#$&2("#%$&&
A$E-02/(,!D,.0E'E$,%!4'3,!2#,!,4D#0%$%!0&0?!K('4!2#,!+'-2,-2!'K!0!.$%+$D*$-,@!2'&0(.%!
&0?%!'K!)-'&$-E!2#02!0(,!,%%,-2$0*!K'(!2#,!D(0+2$+,!'K!2#02!.$%+$D*$-,!UA#(,,3,!P;>[W:!!<-!#,(!
+#0D2,(!'-!IA$E-02/(,!_,.0E'E$,%!$-!d,%$E-J@!$-!Id,%$E-!_,.0E'E?J@!5*$%'-!A#(,,3,@!.,%+($6,%!
2#,!%$E-02/(,!D,.0E'E$,%!'K!d,%$E-!0%!2#,!A2/.$'@!2#,!_('X,+2%!0-.!2#,!\($,K@!`02,($0*$2?@!
d$0*'E/,!0-.!2#,!1($2$]/,!UA#(,,3,!P;>[W:!"#,!%2/.$'!2/(-%!2#,!K'+/%!'K!2#,!+*0%%!0&0?!K('4!
2#,!2/2'(!2'&0(.%!2#,!%2/.,-2@!+(,02$-E!0!%2/.,-27+,-2(,.!2,0+#$-E!0DD('0+#!UA#(,,3,!
P;>[W:!`'%2!.,%$E-!+'/(%,%!0(,!20/E#2!2#('/E#!,LD,($,-2$0*!4,2#'.%!2#02!K'+/%!0('/-.!0!
D('X,+2!'(!.,%$E-!6($,K:!"#,!.,%$E-!'/2+'4,%!0(,!'D,-7,-.,.!&#$+#!0**'&%!2#,!%2/.,-2!2#,!
%D0+,!2'!6,!+(,02$3,!$-!.,3,*'D$-E!0!%'*/2$'-@!&#$+#!$%!/-)-'&-!02!2#,!%20(2!'K!2#,!D('X,+2:!
d,%$E-!%2/.,-2%!'K2,-!0*%'!&'()!0/2'-'4'/%*?!$-!2#,!.,3,*'D4,-2!'K!2#,%,!%'*/2$'-%:!"#,!
('*,!'K!2#,!2/2'(!0++'(.$-E!2'!A#(,,3,@!$%!'K2,-!2'!E/$.,!0-.!0.3$%,!(02#,(!2#0-!.$+202,@!0-.!
6'2#!2#,!%2/.,-2!0-.!2#,!2/2'(!#03,!2'!2'*,(02,!E(,02!($%)!0*'-E!2#,!X'/(-,?!2'!0!%'*/2$'-:!
UA#(,,3,!P;>[W:!I`02,($0*$2?J!$%!K/-.04,-20*!2'!0(2!0-.!.,%$E-!,./+02$'-@!&#$+#!$%!60%,.!'-!
I.'$-E!0-.!40)$-EJ:!"#,!2,0+#$-E!0-.!*,0(-$-E!D('+,%%!$-!0(2!0-.!.,%$E-!,./+02$'-!$%!
I.$0*'E$+J@!&#$+#!$%!0!K,02/(,!'K!2#,!%2/.,-27K'+/%,.!0DD('0+#,%!$-!.,%$E-!,./+02$'-:!"#,!
.$0*'E/,!.',%!-'2!'-*?!20),!D*0+,!6,2&,,-!2#,!2/2'(!0-.!2#,!%2/.,-2@!6/2!0*%'!D,,(!2'!D,,(!
0-.!$-!%40**!E('/D%!UA#(,,3,!P;>[W:!T$-0**?@!2#,!.,%$E-!+($2$]/,!D('3$.,%!0-!'DD'(2/-$2?!2'!
0E(,,!'-!%20-.0(.%@!2'!E$3,!K,,.60+)!0-.!2'!.$%+/%%!0*2,(-02$3,%@!0%!&,**!0%!2'!D('3$.,!0!
4'.,*!K'(!2#,!2?D,!'K!2#'/E#2!D('+,%%!2#02!$%!-,,.,.!6?!2#,!.,%$E-!D('K,%%$'-0*!UA#(,,3,!
P;>[W:!A#(,,3,!$.,-2$K$,%!2#,%,!D,.0E'E$,%!0%!&0?%!2'!#,*D!%2/.,-2%!2'!0+2!$-!&0?%!2#02!0(,!
ID('K,%%$'-0*!0-.!0DD('D($02,J!UA#(,,3,!P;>[W@!6/2!D,(#0D%!.,%$E-!D,.0E'E$,%!+0-!0*%'!D*0?!
0!('*,!$-!.,3,*'D$-E!%'4,!'K!2#,!+'E-$2$3,!0-.!%'+$0*!%)$**%!2#02!&$**!*,0.!2'!%2/.,-2!
,-E0E,4,-2!0-.!%/++,%%!04'-E!%2/.,-2%!02!,*,4,-20(?!%+#''*:!
23./10(>9783..3.((
a'6$-!h0-.,!i0-.,!.,K$-,%!0!Z7%2,D!.,%$E-!D('+,%%F!Od,K$-,!2#,!_('6*,4!!<-3,%2$E02,!0-.!
(,%,0(+#!! e,-,(02,!<.,0%!!!`0),!2#,!_('2'2?D,!!_(,%,-2!A'*/2$'-%!!b30*/02,!0-.!
a,3$%,S!Uh0-.,!i0-.,!,2!0*!P;>9W:!A#,!0KK$(4%!2#02!.,%$E-!,./+02'(%!+0-!40),!0!*0%2$-E!
$4D0+2!'-!*$K,!0-.!+0(,,(!%)$**%!K'(!%2/.,-2%!6?!2,0+#$-E!2#,4!2#$%!D('+,%%:!d'(%2!.,%+($6,%!
-./01(23./10(+4/05/01(67(893:63(:(03;(3<=8:6/70(>:9:</1?(@79(3A3?306:9B(A3C3A(84/A<930(@79(4/1439(
.6=<306(301:13?306(:0<(.=883..((
!
7"
.,%$E-!D(0+2$+,%!0%!.,3,*'D,.!0('/-.!K$3,!E,-,(0*!0+2$3$2$,%F!K'(4/*02$-E!U/-.,(%20-.$-E@!
$.,-2$K?$-E!0-.!K(04$-EW!!(,D(,%,-2$-E!U,L2,(-0*$M$-E@!+'-3,(%$-E!0-.!/%$-E!4/*2$D*,!
(,D(,%,-202$'-%!!!4'3$-E!U+(,02$-E!D($40(?!E,-,(02'(%@!)$-.%!'K!4'3$-E!0-.!4'3$-E!2#,!
D('6*,4W !!,30*/02$-E!U'6X,+2$3,f%/6X,+2$3,!(,K*,+2$-E!$-!0+2$'-@!X/.E$-E!'-!c!]/0*$2$,%!0-.!
%/%D,-.$-E!X/.E4,-2W!!0-.!K$-0**?!40-0E$-E!U(,K*,+2$-E!'-!0+2$'-@!6($,K$-E!0-.!D/(%/$-E!
D0(0**,*!*$-,%W:!!
!
I/1=93(JK(+43(.>3869=?(7@(<3./10(:86/C/6/3.(L:@639(!:;.70(:0<(279.6(MNNOPK(#7=983Q(279.6(MNJRK((
"#,!d,%$E-!"#$-)$-E!D('+,%%!'K!A20-K'(.J%!d!A+#''*!%20(2%!&$2#!I,4D02#$M,J:!Y,?!*$2,(02/(,!
#0%!$.,-2$K$,.!2#02!2#$%!$%!0!%)$**!2#02!-,,.%!2'!6,!-/(2/(,.!2'!,-%/(,!D,'D*,J%!%/++,%%!0-.!
&,**!6,$-E:!!"#,!K$3,!%2,D%!'K!2#,!d!A+#''*J%!d,%$E-!"#$-)$-E!D('+,%%!0(,F!Ob4D02#$M,!
!d,%$E-!!<.,02,!!_('2'2?D,!!",%2S@!&#$*,!2#,!K$3,!%2,D%!'K!2#,!d,%$E-!"#$-)$-E!4'.,*!
D('4'2,.!2'!,./+02'(%!6?!<dbR!0(,F!d$%+'3,(?!!<-2,(D(,202$'-!!<.,02$'-!
!bLD,($4,-202$'-!!b3'*/2$'-:!!
!
!
I/1=93(MK()0(643(A3@6(643(23./10(+4/05/01(S9783..(#6:0@79<T.(2K(#8477A(L#7=983Q(
466>QUU6/0B=9AK87?UV3<9=W7P(70(643(9/146*(,2")T(.(23./10(+4/05/01(S9783..K(#7=983Q(
466>QUU6/0B=9AK87?U>CXYM4Z(
!"#!"$%&''(')"!*(+#&,(!-(!,-
j!
"#,%,!K'/(!4'.,*%!D('4'2,!+/($'%$2?@!,4D02#?@!,LD*'(02$'-!'K!#/40-!0-.!,-3$('-4,-20*!
-,,.%!2#('/E#!(,%,0(+#@!,LD,($4,-202$'-@!+($2$+0*!2#$-)$-E!0-.!0!($E'(!2#02!+'/*.!*,0.!2'!
K/2/(,!%/++,%%!K'(!0**!&#'!0(,!,LD'%,.!2'!2#,%,!D('+,%%@!-'2!X/%2!.,%$E-!%2/.,-2%!6?!
D('4'2$-E!P>%2!+,-2/(?!%)$**%!0-.!0!E('&2#!4$-.%,2:!!
!
k,,!0-.!l,KK,($,%!D'$-2!'/2!2#02!2#,!),?!06$*$2$,%!'K!.,%$E-,(%!0(,!2#,!06$*$2?!2'!,4D02#$M,@!
3$%/0*$M,@!%?-2#,%$M,!0-.!2'!(,%'*3,!D('6*,4%@!0-.!2#,%,!%)$**%!0(,!+(,02$-E!-,&!('*,%!0-.!
'DD'(2/-$2$,%!K'(!.,%$E-,(%!!Uk,,!0-.!l,KK,($,%!P;>cW:!<-!0..$2$'-!2'!.,3,*'D$-E!4'(,!
2(0.$2$'-0*!+'(,!%)$**%!D'%27$-./%2($0*!.,%$E-!,./+02'(%!0*%'!#03,!2'!-/(2/(,!-,&!%)$**%!%/+#!0%!
K0+$*$202$'-@!+'**06'(02$'-!0-.!,4D02#?!Uk,,!0-.!l,KK,($,%!P;>cW!&#$+#!0(,!+'(,!2'!2#,!d,%$E-!
"#$-)$-E!_('+,%%@!0-.!0(,!%)$**%!2#02!402+#!&$2#!2#,!$-.$+02'(%!K'(!%/++,%%!K'(!+#$*.(,-:!
1'**06'(02$'-!$%!'-,!),?!,*,4,-2!'K!2#,!.,%$E-!2#$-)$-E!D('+,%%:!A2/.,-2%!$-!.,%$E-!6,-,K$2!
K('4!+'**06'(02$3,!D('6*,4!%'*3$-E@!*,0(-$-E!-,&!%)$**%!K('4!2#,!2,04&'()!2#02!2#,?!4/%2!
/%,!$-!2#,!D('+,%%:!<-!2#,!E('/D!&'()!2#,?!4/%2!K'+/%!'-!0!E'0*@!0-.!2#$%!K'+/%@!+(,02,.!6?!
2#,!.,%$E-!2#$-)$-E!D('+,%%@!#,*D%!2#,4!2'!/-.,(%20-.!0-.!D(0+2$+,!2#,!D($-+$D*,%!'K!
+'**06'(02$'-@!2,04&'()!0-.!,4D02#?!U10(('**@!,2!0*!P;>;W:!5!-,&!K'+/%!'-!K0+$*$202$'-@!
+'**06'(02$'-!0-.!,4D02#?!2#('/E#!d,%$E-!"#$-)$-E!+'/*.!6,!0!%2('-E!0(E/4,-2!K'(!40)$-E!
0!+0%,!K'(!%$E-02/(,!D,.0E'E$,%!0-.!D('+,%%,%!K('4!.,%$E-!,./+02$'-!2'!6,!$-+*/.,.!$-!
D($40(?!%+#''*!,./+02$'-!0%!0!4,0-%!'K!D('4'2$-E!P>%2!+,-2/(?!%)$**%!$-!%2/.,-2%!2#02!+'/*.!
*,0.!2'!2#,$(!E(,02,(!%/++,%%!$-!2#,!K/2/(,:!!
!
T0+$*$202$'-@!+'**06'(02$'-!0-.!,4D02#?@!2$,!60+)!2'!_0/*!"'/E#J%!$-.$+02$'-!2#02!I%'+$0*!
$-2,**$E,-+,J!0-.!I+#0(0+2,(J!'(!I-$+,!E/?!30*/,%J!0(,!2$,.!2'!+#$*.(,-J%!%/++,%%:!"#,!%)$**%!'K!
K0+$*$202$'-!0-.!+'**06'(02$'-!.,4'-%2(02,!2#,!06$*$2?!2'!&'()!&$2#!'2#,(%:!b4D02#?!$%!0!
*,0(-,.!%)$**!2#02!$%!-,,.,.!-'2!X/%2!$-!.,%$E-@!6/2!$-!40-?!D('K,%%$'-%@!0-.!2#,(,K'(,!
,4D02#,2$+!+#$*.(,-!&#'!E('&!$-2'!,4D02#,2$+!0./*2%!0(,!*$),*?!2'!D,(K'(4!6,22,(!$-!E,-,(0*!
0-.!6,!4'(,!%/++,%%K/*!$-!*$K,:!"#,(,!$%!0!E(,02!6'.?!'K!*$2,(02/(,!(,*02,.!2'!,4D02#?!$-!
.$3,(%,!K$,*.%:!<-!2#,!4,.$+0*!D('K,%%$'-@!#,0*2#!+0(,!D('3$.,(%!4/%2!6,!06*,!2'!/%,!+'E-$2$3,!
,4D02#?!2'!/-.,(%20-.!2#,!D02$,-2J%!D'$-2!'K!3$,&@!0%!&,**!0%!0KK,+2$3,!,4D02#?!2'!(,*02,!2'!
2#,$(!K,,*$-E%!U1#,-!,2!0*@!P;>[W:!b4D02#?!$%!(,]/$(,.!'K!D#?%$+$0-%!%$-+,!$2!0KK,+2%!D02$,-2!
.$0E-'%,%!0-.!+0(,:!_02$,-2%!&$**!'KK,(!4'(,!$-K'(402$'-!06'/2!2#,$(!%?4D2'4%!2'!
,4D02#,2$+!D#?%$+$0-%g!0-.!,4'2$'-0**?!,-E0E,.!D#?%$+$0-%!&$**!022,-.!4'(,!+0(,K/**?!2'!
D02$,-2%!-,,.%:!b4D02#?!'-!2#,!D0(2!'K!2#,!D#?%$+$0-!&$**!0*%'!*,0.!2'!E(,02,(!D02$,-2!
%02$%K0+2$'-:!UA2,D$,-!0-.!\0,(-%2,$-!P;;ZW:!N#$*,!4'%2!-/(%$-E!%+#''*%!/%,!E(0.,!D'$-2!
03,(0E,%!e_5!2'!0%+,(20$-!&#'!&$**!6,!0++,D2,.!$-2'!2#,$(!D('E(04%@!2#$%!.020!.',%!-'2!
0++/(02,*?!D(,.$+2!&#'!&$**!6,+'4,!4'(,!,4D02#,2$+!-/(%,%@!0-.!]/0-2$K$+02$'-!'K!
,4D02#$M$-E!+#0(0+2,($%2$+%!4$E#2!4'(,!0++/(02,*?!D(,.$+2!0D2-,%%!K'(!2#,!+0(,,(!'K!-/(%$-E!
2#0-!e_5!U_,-D(0%,!,2!0*!P;>cW:!A0*,%D,'D*,!2#02!0(,!,4D02#,2$+!6/$*.!0-.!40$-20$-!*'-E7
2,(4!D('K$206*,!+/%2'4,(!(,*02$'-%!%$-+,!2#,?!0(,!6,22,(!06*,!2'!/-.,(%20-.!2#,$(!+/%2'4,(J%!
-,,.%!Ud,*D,+#$2(,!P;>cW:!<-!2#,!K$,*.!'K!2,0+#$-E@!2#,!0DD*$+02$'-!'K!,4D02#?!#,*D%!2,0+#,(%!
-./01(23./10(+4/05/01(67(893:63(:(03;(3<=8:6/70(>:9:</1?(@79(3A3?306:9B(A3C3A(84/A<930(@79(4/1439(
.6=<306(301:13?306(:0<(.=883..((
!
9"
2'!6,22,(!/-.,(%20-.!2#,!&'(*.%!'K!2#,!+#$*.(,-!&#'!2#,?!2,0+#:!UN0((,-!P;>cW:!<-!2#,!0(,0!
'K!40-0E,4,-2@!,4D02#?!+0-!#,*D!40-0E,(%!2'!,%206*$%#!0!(0DD'(2!&$2#!2#,$(!,4D*'?,,%!
0-.!2'!E0/E,!#'&!-,&!$.,0%!&$**!6,!0++,D2,.:!b4D*'?,,%!&$**!0*%'!D,(K'(4!6,22,(!K'(!2#,!
40-0E,(!&#'!#0%!%#'&-!2#,4!+0(,!UA'4'E?$!,2!0*!P;>cW:!"#,%,!,L04D*,%!'K!2#,!-,,.!K'(!
,4D02#?!$-!+0(,,(!%/++,%%!.,4'-%2(02,!#'&!.,%$E-760%,.!,./+02$'-!&$2#!0!K'+/%!'-!
,4D02#?!0-.!2#,!/%,!'K!.,%$E-!4,2#'.%!2#02!D('4'2,!,4D02#?!0(,!-'2!6,-,K$+$0*!'-*?!2'!
%2/.,-2%!&#'!&$**!E'!2'!+0(,,(%!$-!.,%$E-@!6/2!0(,!$-!K0+2!6,-,K$+$0*!2'!0**!%2/.,-2%@!0%!2#,!%)$**!
'K!,4D02#?!$%!0!),?!%)$**!K'(!%/++,%%!$-!2#,!2&,-2?7K$(%2!+,-2/(?:!!
!
E?&F0+#$%&0&G0"(&6-/&'("#%$&H0"(2&I(0/$#$%&0,&4/#50/8&0$2&
"(.-$20/8&7(9(7&
N#$*,!2#,(,!$%!*$22*,!*$2,(02/(,!030$*06*,!'-!d,%$E-!,./+02$'-!%D,+$K$+0**?!K'(!2#,!,*,4,-20(?!
*,3,*@!2#,(,!$%!*$2,(02/(,!'-!.,%$E-!,./+02$'-!02!%,+'-.0(?!%+#''*:!d,%$E-!D('K,%%'(@!
`,(,.$2#!d03$%!#0%!,LD(,%%,.!+'-+,(-!K'(!2#,!*0+)!'K!.,%$E-!,./+02$'-!02!%,+'-.0(?!*,3,*!$-!
2#,!B-$2,.!A202,%!0-.!0(E/,%!K'(!2#,!$-+*/%$'-!'K!.,%$E-!,./+02$'-!$-!2#,!D(,D0(02$'-!'K!
2,0+#,(%!0-.!0.4$-$%2(02'(%@!0%!$2!'KK,(%!%2(02,E$,%!K'(!$4D('3$-E!2,0+#$-E!0-.!*,0(-$-E!
Ud03$%!>VVjW:!A#,!&($2,%!06'/2!0!E('/D!'K!.,%$E-!D('K,%%$'-0*%!$-+*/.$-E!0(+#$2,+2%@!E(0D#$+!
.,%$E-,(%@!$-./%2($0*!.,%$E-,(%@!*0-.%+0D,!0(+#$2,+2%!0-.!D*0--,(%!&#'!%,,)!2'!I,LD0-.!2#,!
D,.0E'E$+0*!(,D,(2'$(,J!'K!2,0+#,(%!2#('/E#!.,%$E-!Q!-'2!6?!$-2('./+$-E!0!-,&!%/6X,+2@!6/2!
6?!#,*D$-E!2#,4!2'!/%,!.,%$E-!2'!.,*$3,(!,L$%2$-E!+'-2,-2!2'!$4D('3,!%2/.,-2!0+0.,4$+!
D,(K'(40-+,!Ud03$%!>VVjW:!d03$%!.,%+($6,%!.,%$E-!0%!I0!%'+$0*@!-'2!$-.$3$./0*@!D('./+2$'-!0-.!
2#,(,K'(,!%#0(,%!(,%D'-%$6$*$2?!K'(!$2%!'/2+'4,!&$2#!2#,!0/.$,-+,%!&#'!40),!4,0-$-E!'K!$2!
2#('/E#!$2%!/%,J!Ud03$%!>VVjW:!A#,!.,%+($6,%!2#,!.,%$E-!D('+,%%!0%F!!
"#$%!+?+*$+0*!D('+,%%!6,E$-%!&$2#!2#,!$.,-2$K$+02$'-!'K!0!D('6*,4@!$-3'*3,%!(,%,0(+#!0-.!
2#,!(0-)$-E!'K!D($'($2$,%!2#02!'K2,-!0DD,0(!2'!6,!$-!+'4D,2$2$'-!&$2#!,0+#!'2#,(@!2,%2%!
2#,!3$06$*$2?!'K!4/*2$D*,!%'*/2$'-%!2#('/E#!D('2'2?D,%@!0-.!,-.%!&$2#!2#,!,30*/02$'-!'K!
'6X,+2%!0E0$-%2!0!%'+$0**?!4,.$02,.!%,2!'K!D,(K'(40-+,!+($2,($0S!Ud03$%!>VVjW:!
a,+'E-$M$-E!2#02!K/2/(,!%02$%K0+2$'-!$-!*$K,!0-.!&'()!.,D,-.!'-!+(,02$3,!D('6*,4!%'*3$-E@!
.,%$E-!,./+02'(!a'6$-!h0-.,!i0-.,!0*%'!40),%!0!+0%,!K'(!.,%$E-!,./+02$'-!$-!%,+'-.0(?!
,./+02$'-!%202$-E!2#02!0(2!0-.!.,%$E-!,./+02$'-!+0-!#,*D!2(0$-!%2/.,-2%!$-!D('6*,4!%'*3$-E!
2#('/E#!2#,!.,%$E-!D('+,%%!Uh0-.,!i0-.,!,2!0*!P;>9W:!!
d,%$E-!"#$-)$-E!+#0**,-E,%!%2/.,-2%!2'!K$-.!%'*/2$'-%!2'!+'4D*,L!0-.!'D,-7,-.,.!D('6*,4%!
U10(('**@!,2!0*!P;>;W:!d,%$E-!"#$-)$-E!%/DD'(2%!%2/.,-2%!0+0.,4$+!D,(K'(40-+,!$-!I+'(,J!
%/6X,+2%!6?!+'-2($6/2$-E!2'!+($2$+0*!2#$-)$-E@!%'+$0*!.,3,*'D4,-2@!2,04&'()!%)$**%!0-.!2#,!%)$**!
'K!-,E'2$02$-E!4,0-$-E!U10(('**@!,2!0*!P;>;W:!h0-.,!i0-.,!0*%'!D/(D'(2%!2#02!/-.,(%20-.$-E!
2#,!d,%$E-!_('+,%%!+0-!#,*D!%2/.,-2%!6,+'4,!4'(,!+($2$+0*!2#$-),(%!UN02%'-!P;>[W:!!
!"#!"$%&''(')"!*(+#&,(!-(!,-
>;!
[38306(93.3:984(;/64(23./10(3<=8:6/70(:6(.3870<:9B(A3C3A(
A,3,(0*!(,%,0(+#,(%!0(,!4'3$-E!0&0?!K('4!2#,!2(0.$2$'-0*!0(E/4,-2!'K!.,%$E-!6,$-E!06*,!2'!
%/DD'(2!2#,!0+0.,4$+!'/2D/2!'K!%2/.,-2%!0-.!0(,!,L04$-$-E!2#,!&0?!2#02!.,%$E-!D('+,%%!0-.!
.,%$E-!2#$-)$-E!+0-!E,-,(02,!'2#,(!2?D,%!'K!(,%/*2%!&#,-!$-2('./+,.!02!%,+'-.0(?!*,3,*:!<-!
10-0.0@!5K*02''-?!0-.!N0))0(?!,LD*'(,.!&#,2#,(!'(!#'&!%2/.,-2%!+'/*.!0DD*?!d,%$E-!
"#$-)$-E!D($-+$D*,%!2'!D('6*,4!%'*3$-E!$-!'2#,(!+'/(%,%!0-.!2'!,3,(?.0?!*$K,!%$2/02$'-%:!<-!
2#,$(!%2/.?!2#,?!K'/-.!2#02!%2/.,-2%!2(0-%K,((,.!0-.!0DD*$,.!.,%$E-!2#$-)$-E!2,+#-$]/,%!$-!
(,0*7*$K,!D('6*,47%'*3$-E!%$2/02$'-%g!0-.!K'/-.!2#02!2#,!D('6*,4!K$-.$-E!0-.!D('6*,47%'*3$-E!
2,+#-$]/,%!'K!.,%$E-!,4D'&,(,.!%2/.,-2%@!0-.!,-+'/(0E,.!+($2$+0*!2#$-)$-E!U5K*02''-?!0-.!
N0))0(?!P;>[W:!<-!=023$0@!T(,$40-,!+'4D0(,.!(,%D'-%,%!2'!2#,!%04,!.,%$E-!6($,K!6?!2&'!
.$%D0(02,!E('/D%@!2#,!K$(%2!0!E('/D!'K!`0%2,(J%!*,3,*!.,%$E-!%2/.,-2%!0-.!2#,!%,+'-.!%+#''*7
0E,.!+#$*.(,-!>>!Q!>9!?,0(%!'*.:!<-!#,(!K$-.$-E%!%#,!0KK$(4,.!2#02!+#$*.(,-!&,(,!06*,!2'!
+(,02,!-,&!0-.!$--'302$3,!D('./+2!+'-+,D2%!0-.!2'!/-.,(%20-.!2#,!%?%2,4%!0DD('0+#!'K!
.,%$E-!2#$-)$-E@!2#'/E#!%#,!(,+'E-$M,%!2#,!$4D'%%$6$*$2?!'K!0%%,%%$-E!2#,!$4D0+2!'K!%/%20$-,.!
,LD'%/(,!2'!.,%$E-!&$2#'/2!0!*'-E$2/.$-0*!%2/.?!'K!P;!Q!c;!?,0(%!UT(,$40-,!P;>[W:!10(('**!,2!
0*@!$-!2#,$(!D('X,+2!I"0)$-E!d,%$E-!"#$-)$-E!2'!A+#''*%!a,%,0(+#!_('X,+2!$-!2#,!B-$2,.!A202,%@!
K'+/%,.!'-!2#(,,!+'(,!]/,%2$'-%F!#'&!.$.!%2/.,-2%!,LD(,%%!2#,$(!/-.,(%20-.$-E!'K!.,%$E-!
2#$-)$-E@!#'&!.$.!0KK,+2$3,!,*,4,-2%!$4D0+2!.,%$E-!2#$-)$-E!$-!2#,!+*0%%(''4!0%!&,**!0%!0!
4'(,!2(0.$2$'-0*!(,%,0(+#!K'+/%!'K!#'&!.,%$E-!2#$-)$-E!+'--,+2,.!2'!0+0.,4$+!%20-.0(.%!
0-.!2#,!0+]/$%$2$'-!'K!+'-2,-2:!U10(('**@!,2!0*!P;>;W:!"#,?!%/(4$%,!2#02!.,%$E-!2#$-)$-E!
0+2$3$2$,%!,-+'/(0E,.!%2/.,-2%!2'!,-E0E,!$-!+'**06'(02$3,!*,0(-$-E@!0-.!.,%$E-72#$-)$-E!
D('X,+2%!D('4'2,.!,-E0E,4,-2!6?!0**'&$-E!%2/.,-2%!2#,!'DD'(2/-$2?!2'!,LD(,%%!2#,$(!
'D$-$'-%!0-.!K$-0**?!2#02!.,%$E-!2#$-)$-E!+#0**,-E,%!%2/.,-2%!2'!2#$-)!$-!-,&!&0?%!0-.!20),!
($%)%!U10(('**@!,2!0*!P;>;W:!
J?&G-$.73"#-$&
"#,(,!$%!(,+'E-$2$'-!'-!40-?!*,3,*%!'K!2#,!$-0.,]/0+$,%!'K!+/((,-2!,./+02$'-!D0(0.$E4%!$-!
.,3,*'D$-E!P>%2!+,-2/(?!%)$**%!0-.!D(,.$+2'(%!'K!%2/.,-2!%/++,%%!%/+#!0%!0!E('&2#!4$-.%,2:!
d,%$E-!,./+02$'-!2#('/E#!$2%!%$E-02/(,!D,.0E'E$,%@!4,2#'.%!0-.!D('+,%%,%!0*(,0.?!.,3,*'D%!
40-?!'K!2#,%,!%)$**%:!"#,!D0(0**,*!6,2&,,-!2#,%,!%)$**%!0-.!2#,!%)$**%!$4D0(2,.!2#('/E#!d,%$E-!
"#$-)$-E!0-.!d,%$E-!,./+02$'-!%,,4!2'!%/EE,%2!0!%$E-$K$+0-2!'DD'(2/-$2?!K'(!0!-,&!.,%$E-7
60%,.!,./+02$'-!D0(0.$E4!2#02!K'+/%,%!'-!.,%$E-!06./+2$3,!(,0%'-$-E!0-.!+'E-$2$3,!%)$**%!
*$),!+/($'%$2?@!$--'302$'-!0-.!+($2$+0*!2#$-)$-E!0%!&,**!0%!2#,!.,3,*'D4,-2!'K!%'+$0*!%)$**%!%/+#!
0%!,4D02#?@!K0+$*$202$'-!0-.!+'**06'(02$'-:!"#,!-,,.!K'(!2#,!%)$**!'K!,4D02#?!$-!0!.$3,(%,!
(0-E,!'K!D('K,%%$'-%@!0-.!2'!2#,!P>%2!+,-2/(?!%)$**%!$-!E,-,(0*!0*%'!%/EE,%2%!2#02!,LD'%/(,!2'!
.,%$E-!,./+02$'-!02!D($40(?!%+#''*!+'/*.!*0?!0!%'*$.!K'/-.02$'-!2#02!&'/*.!-'2!'-*?!6,-,K$2!
+#$*.(,-!&#'!E'!'-!2'!6,+'4,!+(,02$3,!D('K,%%$'-0*%@!6/2!&'/*.!$-!K0+2!6,-,K$2!0**!+#$*.(,-!
0-.!*,0.!2'!2#,$(!E(,02,(!,-E0E,4,-2!02!%+#''*!0-.!K/2/(,!%/++,%%!$-!2#,$(!D('K,%%$'-0*!*$3,%:!
"#,!%/++,%%!'K!2#,!(,+,-2!,LD,($4,-2%!&$2#!d,%$E-!b./+02$'-!02!D($40(?!0-.!%,+'-.0(?!*0?%!
0!K'/-.02$'-!K'(!0..$2$'-0*!,LD,($4,-202$'-:!
-./01(23./10(+4/05/01(67(893:63(:(03;(3<=8:6/70(>:9:</1?(@79(3A3?306:9B(A3C3A(84/A<930(@79(4/1439(
.6=<306(301:13?306(:0<(.=883..((
!
11"
K?&L(6(/($.("&
5K*02''-?@!=:@!m!N0))0(?@!a:!UP;>[W:!"#'/E#2K/*!"#$-),(%F!A,+'-.0(?!A+#''*,(%J!=,0(-$-E!06'/2!
d,%$E-!"#$-)$-E:!3:90Z23./10(+43(\9<(,06390:6/70:A(]70@393083(@79(23./10("<=8:6/70(
[3.3:98439.*!M@![Zc7[n9:!.'$FdR<F!>;:>c>9;fae:P:>:[;;>:j9;V!
10(('**@!`:@!e'*.40-@!A:@!\($2'%@!=:@!Y'#@!l:@!a'?0*2?@!5:@!m!^'(-%2,$-@!`:!UP;>;W:!d,%2$-02$'-@!
<40E$-02$'-!0-.!2#,!T$(,%!N$2#$-F!d,%$E-!"#$-)$-E!$-!0!`$..*,!A+#''*!1*0%%(''4:!,06390:6/70:A(
^7=90:A(7@(&96(_(23./10("<=8:6/70*!MOU>W@!cn7[c:!
1#,-@!5:@!Y$,(%40@!`:@!k,#*,@!Y:@!m!_*0),@!Y:!UP;>[W:!<4D0+2!'K!0-!5E$-E!A$4/*02$'-!e04,!'-!_#0(40+?!
A2/.,-2%J!b4D02#?!K'(!R*.,(!5./*2%:!&?(^(S4:9?("<=8(&?39/8:0(^7=90:A(7@(S4:9?:83=6/8:A(
"<=8:6/70*!`OU[W:!a,2($,3,.!8'3,46,(!>9@!P;>[@!K('4!#22DFff&&&:0XD,:'(Ef!
1('%%@!8:!UP;>>W:!d,%$E-!2#$-)$-EF!B-.,(%20-.$-E!#'&!.,%$E-,(%!2#$-)!0-.!&'():!RLK'(.F!\,(E:!
d03$%@!`:!U>VVjW:!`0)$-E!0!10%,!K'(!d,%$E-7\0%,.!=,0(-$-E:&96.("<=8:6/70(S7A/8B([3C/3;*!JNNUPW@!n7
>[:!
d,*D,+#$2(,@!d:!UP;>cW:!a,3$,&!0-.!0%%,%%4,-2!'K!D0%2!,4D02#?!%+0*,%!2'!4,0%/(,!%0*,%D,(%'-J%!
,4D02#?:!^7=90:A(7@(a:0:13?306(:0<(a:9536/01([3.3:984*!J\:!
d'(%2@!Y:!UP;>[W:!I9:?3(/007C:6/70Q(]93:63(03;(64/05/01(bB(<3./10:!1046($.E,@!`5F!"#,!`<"!_(,%%:!
d&,+)@!1:!A:!UP;;ZW:!a/0<.36Q(+43(03;(>.B847A71B(7@(.=883..:!8,&!k'()@!8kF!a0-.'4!^'/%,:!
T(,$40-,@!5:!UP;>[W:!10%,!A2/.?F!d,%$E-!"#$-)$-E!0-.!8,&!_('./+2!d,3,*'D4,-2!T'(!A+#''*!5E,!
1#$*.(,-:!!3:90Z23./10(+43(\9<(,06390:6/70:A(]70@393083(@79(23./10("<=8:6/70([3.3:98439.*!J@!>jj7
P>c:!.'$F>;:>c>9;fae:P:>:>P;;:n[P;!
=,3$-,@!`:!UP;>PW:!",0+#!?'/(!+#$*.(,-!&,**F!_0(,-2$-E!K'(!0/2#,-2$+!%/++,%%:!8,&!k'()F!^0(D,(:!
`0..0@!`:!UP;>[@!l/*?!PnW:!^'&!2'!\($-E!d,%$E-!"#$-)$-E!2'!k'/(!A+#''*!K'(!T(,,!UN$2#'/2!^$($-E!0!
T0-+?!1'-%/*20-2W!Ub.A/(E,!8,&%W:!a,2($,3,.!8'3,46,(!V@!P;>[@!K('4!#22DFff2$-?/(*:+'4f],.(/X'!
_,-D(0%,@!\:@!R0)*,?@!\:@!",(-,%@!a:@!m!d($%+'**@!d:!UP;>cW:!b4D02#?!0%!0!d,2,(4$-$-E!T0+2'(!K'(!
8/(%$-E!10(,,(!A,*,+2$'-:!^7=90:A(7@('=9./01("<=8:6/70(^('=9.("<=8*!RMU9W@!>VP7>Vn:!
.'$F>;:cVPjf;>9j9jc97P;>c;c>97;P!
_($2+#0(.@!5:!UP;>cW:!N0?%!'K!*,0(-$-EF!=,0(-$-E!2#,'($,%!0-.!*,0(-$-E!%2?*,%!$-!2#,!+*0%%(''4:!
='-.'-F!d03$.!T/*2'-:!
A#(,,3,@!5:!UP;>[W:!A$E-02/(,!_,.0E'E$,%!$-!d,%$E-!<-!`:!"'3,?!b.$2'(!Ub.:W@!23./10(S3<:171B!UDD:!jc7
V9W:!d'(+#,%2,(F!e'&,(!
A'4'E?$@!a:@!\/+#)'@!5:@!m!\/+#)'@!Y:!UP;>cW:!`0-0E$-E!N$2#!b4D02#?F!10-!k'/!T,,*!N#02!<!
T,,*H!^7=90:A(7@()91:0/c:6/70:A(S.B847A71B*!J\U>W@!cP79P:!
A2,D$,-@!Y:@!m!\0,(-%2,$-@!5:!UP;;ZW:!b./+02$-E!K'(!,4D02#?:^7=90:A(7@(d3039:A(,06390:A(
a3</8/03*!MJU[W@![P97[c;:!
"$D!A#,,2F!dbdB1"<hb@!<8dB1"<hb@!58d!5\dB1"<hb!ab5AR8<8e:!U-:.:W:!a,2($,3,.!`0(+#!>;@!P;>Z@!
K('4!#22D%Fff&&&:6/22,:,./f.,D0(24,-2%f+0%f2$D%#,,2%f2#$-)$-Ef(,0%'-$-E:#24*!
"'/E#@!_:!UP;>PW:!F7;(84/A<930(.=8833<Q(d9/6*(8=9/7./6B*(:0<(643(4/<<30(>7;39(7@(84:9:8639:!8,&!k'()@!
8,&!k'()F!^'/E#2'-!`$KK*$-!^0(+'/(2!_/6*$%#$-E!1'4D0-?:!
"($**$-E@!\:@!m!T0.,*@!1:!UP;;VW:!MJ.6(8306=9B(.5/AA.Q(!3:90/01(@79(A/@3(/0(7=9(6/?3.:!A0-!T(0-+$%+'F!l'%%,?7
\0%%:!
h0-!5-2&,(D@!e:!UP;>9@!l0-/0(?!jW:!d,%$E-!"#$-)$-E!<%!1($2$+0*!T'(!"#,!^,0*2#+0(,!B%,(!bLD,($,-+,!
UBoW:!a,2($,3,.!8'3,46,(!>@!P;>[@!K('4!#22DFffE,'(E,30-0-2&,(D:+'4fP;>9f;>f;jf.,%$E-7
2#$-)$-E7$%7+($2$+0*7K'(72#,7#,0*2#+0(,7/%,(7,LD,($,-+,7/Lf!
!"#!"$%&''(')"!*(+#&,(!-(!,-
>P!
h0-.,!i0-.,@!a:@!N0(-'+)@!=:@!8$)''40-,%#@!\:@!m!h0-!d,L2,(@!Y:!UP;>9W:!"#,!d,%$E-!_('+,%%!$-!2#,!
5(2!1*0%%(''4F!\/$*.$-E!_('6*,47A'*3$-E!A)$**%!K'(!=$K,!0-.!10(,,(%:!&96("<=8:6/70*!P;7Pn:!a,2($,3,.!
R+2'6,(!Pn@!P;>[:!
N0((,-@!1:@!m!^'2+#)$-%@!\:!UP;>9W:!",0+#,(!b./+02$'-!0-.!2#,!b-./($-E!A$E-$K$+0-+,!'K!OT0*%,!
b4D02#?S:!-9b:0([3C(+43(-9b:0([3C/3;*!e`@!PZZ7PVP:!.'$FdR<!>;:>;;nf%>>P[Z7;>97;PVP7n!
N02%'-@!5:!UP;>[W:!d,%$E-!"#$-)$-E!K'(!=$K,:!&96("<=8:6/70*!>P7>j:!
k,,@!l:@!m!l,KK($,%@!b:!UP;>cW:!d,%$E-!2(0-%$2$'-%!/-2'*.!%2'($,%!'-!#'&!.,%$E-!D(0+2$%,%!0(,!
2(0-%$2$'-$-E:!54%2,(.04F!\<A:!
56'/2!2#,!5/2#'(%F!
I("7(8M:$$&N-(7!$%!0! _#d!%2/.,-2!02!8'(2#! 10('*$-0! A202,!B-$3,(%$2?!
0-.!0!=,+2/(,(!02!2#,!B-$3,(%$2?!'K!2#,!N,%2!<-.$,%:!^,(!_#d!(,%,0(+#!
K'+/%,%!'-!.,%$E-!,./+02$'-!0%!0!4,0-%!'K!,4D'&,(4,-2!$-!D($40(?!
%+#''*%!$-!"($-$.0.!0-.!"'60E':!!!
)"0#&I3&I#3&$%!0&_('K,%%'(!0-.!2#,!^,0.!'K!2#,!d,D0(24,-2!'K!e(0D#$+!
d,%$E-! 0-.! <-./%2($0*! d,%$E-! 02! 8'(2#! 10('*$-0!A202,! B-$3,(%$2?:! ^$%!
(,%,0(+#! $-2,(,%2%! $-+*/.,! /%,(7+,-2,(,.! .,%$E-! 4,2#'.%@! $-+*/%$3,!
.,%$E-@!0-.!%'+$0*!(,%D'-%$6$*$2?!'K!.,%$E-,(%:!
&
!
... Adopting a creative pedagogy in classrooms is the need for the moment to encourage creativity among students Noel and Liub (2017). Creative teachers with their lesson plans, organization of material, inventive teaching methods, and creative assessments can bring novelty to content delivery Veerasinghan et al. (2021). ...
... Likewise, a creative pedagogy helps students develop knowledge and skills on the subject as well as develop an attitude towards creativity Starko (2013). Design education imparts non-academic skills among students, which may lay a solid foundation for their future careers Noel and Liub (2017). Skills such as problem-solving, critical thinking, innovation, curiosity, empathy, and collaboration are crucial in this case. ...
DESIGN THINKING AS AN INNOVATIVE TEACHING METHOD FOR MEDIA AND COMMUNICATION COURSES
Article
Full-text available
  • Aug 2022
The objective of this research is to show how to design, implement, and establish how and why the Design thinking-based innovative teaching method is more effective. Following an action research method, a design thinking-based innovative pedagogy was introduced among the first-year postgraduate media students to teach a few modules of the course 'Television and Video Production'. An ill-defined story idea for an animated sci-fi television series was presented to student groups, and they were asked to develop upon the idea as well as provide some creative solutions to the problems. The entire activity was carried out in five different stages, such as Empathize, Define, Ideate, Prototype, and Test. At the end of the activity, the effectiveness of design thinking as an innovative method was analyzed. The findings suggest that design thinking was effective in imparting 21st-century skills, such as empathy, critical thinking, problem-solving, collaboration, creativity, and innovation.
View
... In the process of "Design Thinking" teachers encourage learners seeing limitations as inspiration [17][18][19][20]. The researcher believes that the goal of introducing design thinking to education is to make students think with the mentality of a designer in order to solve complex problems that they encounter in the classroom or in daily life, which we aspire to be creative solutions, as well as early detection of talented designers to prepare them for the labor market, and this is what all major countries seek to continue the wheel of progress Keeping abreast of developments in all fields [21,22]. Design thinking models; there are a number of models put forward by thinkers and educators, including the model which consists of three linear sequential stages (understanding, exploration, and application). ...
The Effect of a Proposed Strategy according to the Design Thinking Model in Mathematics Achievement and Personal Intelligence among Students of Sixth-Class Scientific
Article
Full-text available
  • Jan 2023
— Researcher adopted the experimental research method with two groups (experimental; control) with a posttest; to know the impact of a proposed strategy according to the design thinking model on the achievement of mathematics and personal intelligence among students sixth-class scientific. The null hypotheses were made "there is no statistically significant difference at the significance level (0.05) between the mean scores of students sixth-class scientific (biology) who learned the mathematics subject assigned to them according to proposed strategy (the experimental group) with students who learned the same material by usual way (control group) in test of achievement, also “there is no statistically significant difference at the significance level (0.05) between the mean scores of the students sixth-class scientific (Biology) who learned the mathematics subject assigned to them according to the proposed strategy (the experimental group) and between the students who learned the same material by usual way (the control group) in the personal intelligence scale”. Community of research represent students sixth-class scientific (biology) from the General Directorate of Education of Karkh First. Research sample was selected (60) students, and the sample was divided into two groups (experimental) and (control). The equivalence of both groups was made in (previous achievement in “Mathematics”, “level of intelligence”, “chronological age”). For collecting data to the experiment, an achievement test was built in of (10) test paragraphs of essay type, plus a scale to measure personal intelligence with five test paragraphs. Analyzes were conducted the appropriate statistic, and the psychometric properties of the test were confirmed. Results indicated that students of the experimental group who studied according to the proposed strategy were superior to the students of control group who studied by usual method.
View
... Segundo (Noel & Liub, 2017) os designers são encorajados a desenvolver novas soluções e testá-las várias vezes ao longo do processo, e quando confrontados com 'falha', recomeçam o processo. Outra perspectiva deste modelo é potencializar a colaboração em várias direções, entre os alunos, com os professores, com especialistas, com os usuários e demais partes interessadas, isso porque são necessários vários olhares e competências multidisciplinares e complementares para resolver o problema real dentro das limitações do projeto. ...
Uma Abordagem Inovadora de Aprendizagem para o Desenvolvimento de Competências Transversais
Article
  • Mar 2022
A transformação digital está modificando a estrutura e o funcionamento da sociedade, inclusive as concepções de espaço e tempo, além dos modelos de negócios, estamos vivendo a transição de um mundo mais estável para um mundo mais dinâmico e complexo. Essa transformação exige, na perspectiva das carreiras profissionais, competências diferentes das quais eram demandadas em um passado recente. Logo, desenvolver competências transversais, aquelas que conseguimos transferir de um contexto para o outro ao longo da vida, coloca-se como um diferencial para atuar em um cenário em constante transformação. Diante do exposto, o objetivo deste artigo é avaliar o desenvolvimento de competências transversais de estudantes após utilizarem um modelo de aprendizagem que articula a metodologia de aprendizagem baseada em desafios com a abordagem do design thinking de modo a aproveitar a complementaridade de uma abordagem mais técnica com uma abordagem mais social, promovendo assim um processo mais integral. Esse modelo foi aplicado em uma turma de estudantes de engenharia mecânica e, como resultado, observou-se, segundo a percepção dos estudantes, que o desenvolvimento de todas as competências transversais, que compõem o modelo de aprendizagem, foi muito bem avaliado. Ainda, a correlação positiva entre as práticas de aprendizagem e o desenvolvimento de competências transversais, demostra que o modelo de aprendizagem proposto contribui, de maneira significativa, para estimular os estudantes no processo de aprendizagem potencializando o desenvolvimento de competências transversais.
View
... The DT model consists of five stages ( Figure 1); which can be briefly explained as follows [39,40]. ...
View
View
Developing Empathy Through Design Thinking in Elementary Art Education
Article
  • Dec 2022
Past research has suggested incorporating design thinking in upper elementary art education helps students develop what are known as the Four Cs: collaboration, communication, creativity, and critical thinking. As an instructional strategy, design thinking focuses on empathy first and provides a structure for students to work through real‐world, complex problems in small groups. This exploratory qualitative case study examined the effects of teaching empathy through design thinking in upper elementary art education. Eight teachers participated, representing public, private, charter, and independent school settings. Data included student observations, interviews, and journal reflections. An analysis of findings resulted in three conclusions: (a) design thinking can foster the development of empathy in preadolescents, (b) art education curricula at the upper elementary level can include design thinking, and (c) design thinking is a valid strategy for teaching empathy. Including empathy within art education promotes a classroom culture that is respectful and understanding of others, with students becoming advocates of justice, equity, and inclusion. As society continues to struggle with bullying, physical violence, and social unrest, teaching empathy has the potential to change how students relate to each other in the classroom, and, ultimately, in the world at large.
View
DESIGN THINKING AND ART EDUCATIONTASARIM ODAKLI DÜŞÜNME VE SANAT EĞİTİMİ
Article
Full-text available
  • Dec 2022
Design Thinking is a collaborative, interdisciplinary, innovative, creative, problem-solving and human-centered process for creating user-oriented products, services or experiences. Because of its ability to foster creativity and innovation, it is applied in the fields of industry, business, engineering, technology and education by applying an empathetic, flexible and iterative approach. Along with the search for a teaching strategy for the acquisition of 21st century skills, there has been an intense and broad interest in Design Thinking applied in education in recent years. Since the design thinking approach is similar to the content of the theoretical and practical applications of the artistic production process, art and design thinking are related concepts. The study aimed to determine the interaction between design thinking and art and also the development of an individual’s design thinking skills through art education. As a result of the literature review; by examining the relationship between art and design-oriented thinking, it has been evaluated common and influence sides each other with art education, and the ability to develop design thinking skills through art education is also determined and discussed. The paper also presents some evaluations and recommendations about raising productive individuals with design-oriented thinking through effective art education.
View
Design Thinking: Blazing a Trail for Social and Emotional Learning in the Early Grades
Article
  • Oct 2022
The authors illustrate how using design thinking allows learners to empathize with the perspectives of others, engage in collaborative problem-solving, practice communicating effectively, and respond to struggle or failure throughout the process.
View
¿Design Thinking para las escuelas de formación profesional?: Descubriendo un enfoque innovador mediante su prueba en la formación del profesorado
Article
Full-text available
  • Aug 2022
El objetivo del artículo es someter a prueba la utilidad del Design Thinking o Pensamiento de Diseño para la formación profesional mediante su uso en la formación del profesorado. Ante su constante difusión como método de innovación y resolución de problemas en contextos como empresas u organizaciones sin ánimo de lucro, se plantea la cuestión acerca de hasta qué punto su uso puede ser beneficioso en ámbitos educativos, como la enseñanza de formación profesional, para fines tales como la mejora de los planes de estudios y el desarrollo escolar, así como para hacer frente el día a día estudiantil. Se evalúo la importancia del Pensamiento de Diseño en las escuelas de formación profesional, a estudiantes del Máster de Formación del Profesorado de la Münster University of Applied Sciences y se abordaron con este enfoque cuestiones relacionadas con centros de formación profesional. Se concluye acerca de la importancia de la formación en Pensamiento de Diseño de profesores como una herramienta activa, por un lado, para fomentar la transferencia de conocimientos técnicos en las escuelas de formación profesional, y por otro, para afrontar la vida escolar cotidiana.
View
View
Impact of an Aging Simulation Game on Pharmacy Students' Empathy for Older Adults
Article
Full-text available
  • Jul 2015
Objective. To evaluate changes in empathy and perceptions as well as game experiences among student pharmacists participating in an aging simulation game. Methods. First-year student pharmacists participated in an aging simulation game. Changes were measured pre/post-activity using the Kiersma-Chen Empathy Scale (KCES) and Jefferson Scale of Empathy – Health Professions Scale (JSE-HPS) for empathy and the Aging Simulation Experience Survey (ASES) for perceptions of older adults’ experiences and game experiences. Wilcoxon signed rank tests were used to determine changes. Results. One hundred fifty-six student pharmacists completed the instruments. Empathy using the KCES and JSE-HPS improved significantly. Of the 13 items in the ASES, 9 significantly improved. Conclusion. Simulation games may help students overcome challenges demonstrating empathy and positive attitudes toward elderly patients. © 2015, American Association of Colleges of Pharmacy. All Right reserved.
View
Thoughtful Thinkers: Secondary Schoolers' Learning about Design Thinking
Conference Paper
Full-text available
  • Jun 2015
Design thinking is a specific design practice that aims to foster innovation by elevating participants' creative thinking abilities. It usually involves a problem-­‐ solving approach to solve complex problems, and can be best achieved through collaborative and human-­‐cantered activities. In post-­‐secondary education, design-­‐ thinking techniques and practices have been implemented into different curricula as particular skills that need to be learned in the 21st century. However, little work has been conducted to investigate design thinking in secondary education. This paper presents our findings on the successful implementation of an interaction design-­‐ thinking curriculum in secondary school education. We have performed qualitative research activities to find out about the success of the curriculum by investigating the abilities of students in transferring knowledge gained from familiar situations (in the course) to unfamiliar situations (outside the course). Our findings suggested that teaching design thinking to secondary school students was beneficial, enabled students to make thoughtful decisions in solving simple to complex problems in their everyday life situations.
View
Ways of Learning: Learning Theories for the Classroom
Book
  • Sep 2017
While most teachers are skilled in providing opportunities for the progression of children’s learning, it is sometimes without fully understanding the theory behind it. With greater insight into what is currently known about the processes of learning and about individual learners, teachers are better equipped to provide experiences and situations that are more likely to lead to effective acquisition of knowledge, concepts and skills. Ways of Learning has been widely used and now, fully updated, it seeks to provide further insight into the ways in which learning takes place, which teachers can make use of in their planning and teaching, including: an overview of learning behaviourism and the beginning of theory cognitive and constructivist learning multiple intelligences and learning styles difficulties with learning the influence of neuropsychology other theories, philosophies and names relating theory to practice. The fourth edition of this book includes developments in areas covered in the preceding editions, as well as expanding on certain topics to bring about a wider perspective; most notably, a new consideration of learning styles and a new chapter detailing important thinkers and writers from the history of education and their continuing influence along with other theories, ideas and thoughts not included in the rest of the book. The book also reflects changes in government policy and is closely related to new developments in practice. Written for trainee teachers, serving teachers and others interested in learning for various reasons, Ways of Learning serves as a valuable introduction for students setting out on higher degree work who are in need of an introduction to the topic.
View
View
View
View
View
View
View
Empathy as a Determining Factor for Nursing Career Selection
Article
  • Mar 2013
The ability to empathize with others is a highly desirable characteristic for the delivery of quality care by nurses. Little research is available that explores the empathy characteristics of students who are attracted to nursing. The purpose of this study is to explore whether empathizing and systemizing characteristics are important factors underlying students' self-selection into and continuing success in nursing programs and whether the importance of these characteristics tends to differ for men and women who choose nursing as a career. A descriptive correlative design was used for this study of 1,872 undergraduates enrolled in a variety of majors, including nursing, at a large midwestern U.S. research university. Findings supported that nursing students had significantly higher empathy characteristics than students in other disciplines. [J Nurs Educ. 2013;52(xx):xxx-xxx.].
View