Historia de la Msica y la Danza!

2 Bachillerato Artes Escnicas, Msica y Danza

Jaime Surez de Venegas Rodrguez
www.deuterus.com

Departamento de msica
I.E.S. Puerta de la Serena
C/ Antonio de Nebrija, 8
06700 Villanueva de la Serena
Badajoz - Espaa

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!"#$%&
"#$%&'(&)%&$*+*,-%&.#)/0/*1%&2&3.*4%+%&&,#&)%&#,%,&$#,/%5555555555555555555555555556
'57&#8&9:;<=&>?@>=?A:;=&5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555556
:B&C=;<@D<=&EAF<G?A9=H&F=9A:8&I&9J8<J?:8555555555555555555555555555555555555555555555555555555555555555555555555555556
KB&,@LA;A9AG;&I&9:?:9<@?MF<A9:F&N@8&9:;<=&0?@>=?A:;=55555555555555555555555555555555555555555555555555555'O
9B&C8:FALA9:9AG;&N@&8=F&9:;<=F&8:&?@8:9AG;&<@D<=&P@8=NM:(55555555555555555555555555555555555555555555555'O
NB&4=?P:F&N@&A;<@?Q?@<:?&@8&C:;<=&0?@>=?A:;=H&N@?AR:N:F&N@&8:&L=?P:&N@&9:;<:?&8=F&
F:8P=F&@;&8:&8A<J?>A:&SJNM:(5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'O
@B&C=;<@D<=&N=;N@&F@&N@F:??=88:&@8&C:;<=&0?@>=?A:;=555555555555555555555555555555555555555555555555555'O
):&PAF:555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'O
#8&*LA9A=&N@&8:F&T=?:F55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555''
LB&4=?P:F&3:?:8A<U?>A9:F55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'!
!57&$UFA9:&R=9:8&Q?=L:;:&@;&8:&#N:N&$@NA:555555555555555555555555555555555555555555555555555555555555555555555555'!
:B&C=;<@D<=&PJFA9:8555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'!
&KB&"?=R:N=?@FH&<?=R@?=FH&SJ>8:?@FH&PA;;@FA;>@?555555555555555555555555555555555555555555555555555555555555'V
9B&):&PUFA9:&P@NA@R:8&@;&#FQ:W:(&8:F&C:;<A>:F5&55555555555555555555555555555555555555555555555555555555555'X
"#$%&!5&)%&3*)/4*+-%&$#,/#Y%)555555555555555555555555555555555555555555555555555555555555555555555555555555555555'Z
'57&/;<?=NJ99AG;5&C*+"#["*&T/1"\./C*&2&1*C/%)55555555555555555555555555555555555555555555555555555'Z
!57&3*)/4*+-%&3./$/"/Y%55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555']
V57&#8&%?F&%;<A^J:5&):F&@F9J@8:F&N@&1:;&$:?9A:8&N@&)AP=>@F&I&+=<?@&,:P@&N@&3:?MF5555555']
V5'&+=<:9AG;555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555']
V5!&#8&P=<@<@5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 ']
V5V&C=PQ=FA<=?@F5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555']
V5X&#F9J@8:&N@&1:;&$:?9A:8&N@&)AP=>@F5555555555555555555555555555555555555555555555555555555555555555555555555 ']
V5Z&#F9J@8:&N@&+=<?@&,:P@&N@&3:?MF&555555555555555555555555555555555555555555555555555555555555555555555555555555'_
%5&$=N=F&?M<PA9=F5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'_
`5&*?>:;JP55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'_
C5&,AF9:;<JF55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'_
,5&C=;NJ9<JF555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'_
#5&$=<@<@555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'_
45&C=PQ=FA<=?@F5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'a
X5&%?F&+=R:555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'a
X5'&C=;<@D<=&EAF<G?A9=&I&F=9A:8&555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 'a
X5!&C:?:9<@?MF<A9:F&PJFA9:8@F555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'a
X5V&4=?P:F&PJFA9:8@F555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'6
%5&$=<@<@555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'6
`5&4=?P:F&9=;&@F<?AKA88=5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'6
C5&"b9;A9:F&N@&9=PQ=FA9AG;(&55555555555555555555555555555555555555555555555555555555555555555555555555555555555555'6
X5X&C=PQ=FA<=?@F555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 '6
%5&4?:;9A:(&0JA88:JP@&N@&$:9E:J<&c'VOO&d&'V__B55555555555555555555555555555555555555555555555555555'6
`5&/<:8A:55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555!O
C5&#FQ:W:55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555!O
"#$%&V(&)%&$e1/C%&Y*C%)&#+&#)&.#+%C/$/#+"*555555555555555555555555555555555555555555555555555555 !'
'5&/+".*,fCC/\+5&C%.%C"#.-1"/C%1&,#&)%&$e1/C%&.#+%C#+"/1"%555555555555555!'
!5&$e1/C%&.#)/0/*1%&#+&#)&1/0)*&[Y&5555555555555555555555555555555555555555555555555555555555555555555555 !!
!5'5&#F9J@8:&L?:;9=7L8:P@;9:555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555!!
!5!5&#F9J@8:&N@&`=?>=W:5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 !V
V

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

V5&$e1/C%&.#)/0/*1%&#+&#)&1/0)*&[Y/5555555555555555555555555555555555555555555555555555555555555555555555!V
V5'5&4=?P:F&?@8A>A=F:F55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555!V
V5!5&#F9J@8:&?=P:;:(&0A=R:;;A&3A@?8JA>A&N:&3:8@F<?A;:5555555555555555555555555555555555555555555555555!V
V5V5&#F9J@8:&N@&Y@;@9A:(&gA88:@?<&I&8=F&0:K?A@8A555555555555555555555555555555555555555555555555555555555555 !X
V5X5&#F9J@8:&L8:P@;9:55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555!X
V5Z5&#F9J@8:&@FQ:W=8:555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555!X
X5&$e1/C%&3.*4%+%&#+&#)&.#+%C/$/#+"*55555555555555555555555555555555555555555555555555555555555555!Z
X5'5&C:?:9<@?MF<A9:F5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555!Z
X5!5&/<:8A:(&@8&P:N?A>:8H&8:&L?=<<=8:5555555555555555555555555555555555555555555555555555555555555555555555555555555555 !Z
X5V5&#8&P:N?A>:8&@;&/;>8:<@??:5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555!]
X5X5&&):&9:;9AG;&L?:;9@F:555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555!]
X5Z5&#FQ:W:(&RA88:;9A9=H&?=P:;9@H55555555555555555555555555555555555555555555555555555555555555555555555555555555555!]
"#$%&X(&)%&$e1/C%&/+1".f$#+"%)&#+&#+&.#+%C/$/#+"*555555555555555555555555555555555555!_
'57&/;<?=NJ99AG;(&C=;<@D<=&EAF<G?A9=H&F=9A:8&I&9J8<J?:85555555555555555555555555555555555555555555555555555555!_
!57&,@F:??=88=&N@&8:&PUFA9:&A;F<?JP@;<:8&NJ?:;<@&@8&.@;:9APA@;<=555555555555555555555555555555555!_
V57&C:?:9<@?MF<A9:F&N@&8:&PUFA9:&A;F<?JP@;<:8&N@8&.@;:9APA@;<=55555555555555555555555555555555555555!a
X57&*?>:;=8=>M:55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555!a
/;F<?JP@;<=F&N@&RA@;<=55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555!a
/;F<?JP@;<=F&N@&9J@?N:5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 !6
/;F<?JP@;<=F&N@&<@98:N=5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555!6
Z57&4=?P:F&A;F<?JP@;<:8@F55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555V'
"#$%&Z(&#)&`%..*C*&/+1".f$#+"%)555555555555555555555555555555555555555555555555555555555555555555555555555 V!
'57&/;<?=NJ99AG;&I&9:?:9<@?MF<A9:F(55555555555555555555555555555555555555555555555555555555555555555555555555555555555555 V!
!57&)=F&A;F<?JP@;<=F&@;&@8&`:??=9=555555555555555555555555555555555555555555555555555555555555555555555555555555555555 VV
V57&)=F&9?@:N=?@F&N@8&9=;9A@?<=5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VX
X57&4=?P:F&A;F<?JP@;<:8@F55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VX
X5'57&4=?P:F&A;F<?JP@;<:8@F&N@8&Q?AP@?&K:??=9=55555555555555555555555555555555555555555555555555555555555VX
X5!57&3@^J@W:F&L=?P:F&A;F<?JP@;<:8@F55555555555555555555555555555555555555555555555555555555555555555555555555 VX
X5V57&4=?P:F&=?^J@F<:8@F555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555V]
Z57&#8&`:??=9=&@;&8=F&Q:MF@F&@J?=Q@=F555555555555555555555555555555555555555555555555555555555555555555555555555555555V_
"#$%&](&$e1/C%&Y*C%)&#+&#)&`%..*C*55555555555555555555555555555555555555555555555555555555555555555555555V6
'57&/+".*,fCC/\+55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555V6
!5&C%.%C"#.-1"/C%1&$f1/C%)#1555555555555555555555555555555555555555555555555555555555555555555555555555555555V6
V5&)%&\3#.%55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555XO
V5'&/+".*,fCC/\+555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555XO
V5!&+%C/$/#+"*(&C%$#.%"%&4)*.#+"/+%5555555555555555555555555555555555555555555555555555555555XO
V5V&#1Cf#)%1&2&C*$3*1/"*.#1555555555555555555555555555555555555555555555555555555555555555555555555555555XO
%7&/"%)/%5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555XO
`7&4.%+C/%5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555X'
C7&/+0)%"#..%55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555X!
X5&$e1/C%&Y*C%)&.#)/0/*1%5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555X!
X5'&/+".*,fCC/\+555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555X!
X5!&*.%"*./*555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555X!
X5V&C%+"%"%55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 XV
X5X&%+"T#$555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555XV
X5Z&3%1/\+555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555XV
X5]&$/1%5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555XV
X

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

"@P:&_57&)%&$e1/C%&/+1".f$#+"%)&#+&#)&C)%1/C/1$*5555555555555555555555555555555555555555555XX
'57&/;<?=NJ99AG;5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555XX
!57&C:?:9<@?MF<A9:F5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555XX
V57&)=F&A;F<?JP@;<=F&N@8&C8:FA9AFP=55555555555555555555555555555555555555555555555555555555555555555555555555555555555XZ
X57&4=?P:F&PJFA9:8@F(&F=;:<:H&FA;L=;M:H&9=;9A@?<=&I&9J:?<@<=5555555555555555555555555555555555555555555XZ
X5'57&):&F=;:<:55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555XZ
X5!57&):&FA;L=;M:55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555X]
X5V57&#8&9=;9A@?<=5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555X]
X5X57&4=?P:F&9:P@?MF<A9:F55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555X_
Z57&):&#F9J@8:&N@&YA@;:(&T:IN;H&$=h:?<&I&`@@<E=R@;5555555555555555555555555555555555555555555555555555555 X_
"#$%&a5&)%&$e1/C%&Y*C%)&#+&#)&C)%1/C/1$*555555555555555555555555555555555555555555555555555555555555X6
O57&/+".*,fCC/\+5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555X6
'57&$e1/C%&Y*C%)&3.*4%+%555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555X6
'5'57&\3#.%&1#./%555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555X6
'5!57&\3#.%&`f4%555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555ZO
'5V57&)%&.#4*.$%&*3#.-1"/C%&,#&0)fCi&2&$*j%."555555555555555555555555555555555555555555Z'
'5V5'57&0)fCi55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555Z'
'5V5!57&$*j%."&555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555Z!
!57&$e1/C%&Y*C%)&.#)/0/*1%555555555555555555555555555555555555555555555555555555555555555555555555555555555555555ZV
!5'57&g5&%5&$=h:?<(5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555ZX
!5!57&4?:;h&k=F@QE&T:IN;5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 ZX
!5V57&)JNlA>&R:;&`@@<E=R@;5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555ZX
"#$%&6(&)%&$e1/C%&/+1".f$#+"%)&#+&#)&.*$%+"/C/1$*555555555555555555555555555555555555ZZ
'7&/;<?=NJ99AG;&5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555ZZ
:B&C=;<@D<=&EAF<G?A9=&F=9A:8&I&9J8<J?:85555555555555555555555555555555555555555555555555555555555555555555555555555ZZ
KB&C:?:9<@?MF<A9:F&>@;@?:8@F&N@&8:&PUFA9:&?=Pm;<A9:(555555555555555555555555555555555555555555555555555ZZ
9B&,J:8AN:N&.=Pm;<A9:(55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555Z]
!7&*?>:;=8=>M:555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555Z]
V7&%>?JQ:9A=;@F&A;F<?JP@;<:8@F55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555Z_
X7&):F&L=?P:F&PJFA9:8@F555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555Z_
"@P:&'O57&):&PUFA9:&R=9:8&@;&@8&.=P:;<A9AFP=55555555555555555555555555555555555555555555555555555555555555555555]O
'57&/;<?=NJ99AG;5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555]O
!57&#8&8A@N&?=Pm;<A9=(&19EJK@?<H&19EJP:;;H&`?:EPFH&g=8L&I&$:E8@?555555555555555555555555555555]O
V57&):&PUFA9:&?@8A>A=F:555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555]'
V5'57&#8&=?:<=?A=(&$@;N@8FF=E;&I&)AFh<5555555555555555555555555555555555555555555555555555555555555555555555555555]'
V5!57&):&PAF:55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555]'
V5V57&#8&?@^JA@P(&`@?8A=hH&`?:EPFH&Y@?NA&I&4:J?b5555555555555555555555555555555555555555555555555555555555]'
X57&):&GQ@?:55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555]!
X5'57&4?:;9A:55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555]!
X5'5'57&):&0?:;Nn=Qb?:555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555]!
X5'5!57&):&GQ@?:&9GPA9:5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 ]!
X5'5V57&):&=Q@?@<:55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555]V
X5!57&&/<:8A:(&.=FFA;AH&,=;Ah@<<AH&`@88A;AH&Y@?NA&I&3J99A;A555555555555555555555555555555555555555555555555]V
X5V57&%8@P:;A:(&g@K@?&I&g:>;@?55555555555555555555555555555555555555555555555555555555555555555555555555555555555]X
"@P:&''(&)%&$e1/C%&+%C/*+%)/1"%555555555555555555555555555555555555555555555555555555555555555555555555555555555]]
'5&*./0#+&2&C*+C#3"*5&C%.%C"#.-1"/C%155555555555555555555555555555555555555555555555555555555555555 ]]
!5&3./+C/3%)#1&#1Cf#)%1&+%C/*+%)/1"%155555555555555555555555555555555555555555555555555555555555555]]
Z

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!5'5&.f1/%55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555]]
!5!5&`*T#$/%5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555]_
!5V5&3%-1#1&+\.,/C*1555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555]a
!5X5&#13%o%5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555]6
:B&0@;@?:9AG;&N@8&6aH&N@&8=F&P:@F<?=F555555555555555555555555555555555555555555555555555555555_O
KB&0@;@?:9AG;&N@8&!_5555555555555555555555555555555555555555555555555555555555555555555555555555555555555_O
9B&0@;@?:9AG;&N@8&Z'55555555555555555555555555555555555555555555555555555555555555555555555555555555555555_O
NB&)=F&A;<@?>@;@?:9A=;:8@F&I&8:&0@;@?:9AG;&N@8&]'555555555555555555555555555555555555555 _'
!5Z&/+0)%"#..%&2&#1"%,*1&f+/,*15555555555555555555555555555555555555555555555555555555555555555555555 _'
!5]5Tf+0.-%55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555_'
!5_5&/`#.*%$p./C%555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555_'
"@P:&'!57&)%&j%.jf#)%(&*.-0#+#1H&#Y*)fC/\+H&#)#$#+"*1H&#"%3%1H&
C*$3*1/"*.#155555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 _!
'57&*?M>@;@F(&1A>8=&[Y//5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555_!
!57&1A>8=&[Y///5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555_V
V57&1A>8=&[/[(&):&?@F<:J?:9AG;&N@&8:&h:?hJ@8:&@;&#FQ:W:5&):&h:?hJ@8:&?=Pm;<A9:5&55555555555_V
:B&):&?@F<:J?:9AG;&N@&8:&j:?hJ@8:55555555555555555555555555555555555555555555555555555555555555555555555555555555555 _V
KB&j:?hJ@8:&0?:;N@&I&j:?hJ@8:&CEA9:&c'aZ'&:&'aaOB555555555555555555555555555555555555555555555555555555_X
K5'57&j:?hJ@8:&0?:;N@5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555_X
K5!57&j:?hJ@8:&CEA9:5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555_X
9B&#8&>b;@?=&9EA9=&c'aaO7'6'OB555555555555555555555555555555555555555555555555555555555555555555555555555555555555555_Z
X57&&):&h:?hJ@8:&@;&@8&FA>8=&[[5&,@9:N@;9A:&I&?@F<:J?:9AG;555555555555555555555555555555555555555555555555_]
"#$%&'V(&)%&,%+j%&2&#)&`%))#"55555555555555555555555555555555555555555555555555555555555555555555555555555555555555_a
'57&)%&,%+j%&T%1"%&#)&1/0)*&[/[5555555555555555555555555555555555555555555555555555555555555555555555555555555_a
'5'57&):&N:;h:&Q:?:&8=F&>?A@>=F5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555_a
'5!57&#8&A;A9A=&N@&8:&N:;h:&9=P=&:?<@(&@8&.@;:9APA@;<=&I&@8&`:??=9=55555555555555555555555555555_a
'5V57&#8&K:88@<&@;&@8&FA>8=&[Y///5&+=R@??@H&@8&qK:88@<&Nn:9<A=;r&I&=<?:F&?@L=?P:F555555555555_6
!57&#)&`%))#"&#+&#)&1/0)*&[/[5&#)&`%))#"&.*$s+"/C*5&1%)Y%"*.#&Y/0%+\&2&
C%.)*&`)%1/15555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555aO
!5'57&)=F&N=F&>?:;N@F&K:88@<F(&):&FM8LAN@&I&0AF@88@5&":>8A=;AH&3@??=<&I&#8FF8@?5555555555555555a'
!5!57&):&Q?@F@;9A:&N@&#FQ:W:5&):&@F9J@8:&K=8@?:555555555555555555555555555555555555555555555555555555555555a'
!5V57&,@&8:&N@9:N@;9A:&:&8:&?@F<:J?:9AG;&N@8&K:88@<(&.JFA:555555555555555555555555555555555555555555555a!
V57&)*1&C%$`/*1&,#)&1/0)*&[[5&1#.0#/&,/%0T/)#YH&4*i/+#H&$%11/+#&2&)*1&
`%))#"1&.f1*15555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555a!
V5'57&):F&?@L=?P:F&N@&,A:>EA8@R55555555555555555555555555555555555555555555555555555555555555555555555555555555555555aV
V5!57&)@=;AN&$:FFA;@&I&1@?>@&)AL:?55555555555555555555555555555555555555555555555555555555555555555555555555555555 aV
V5V57&*<?=F&?@L=?P:N=?@F555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555aX
X57&)%&,%+j%&$*,#.+%5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555aX
Z57&)%&,%+j%&#13%o*)%5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555aX
"#$%&'X(&)%&$e1/C%&,#)&1/0)*&[[&T%1"%&)%&!t&0f#..%&$f+,/%)555555555555555555555a]
'5&/+".*,fCC/\+555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555a]
!5&#)&/$3.#1/*+/1$*5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555a]
!5'57&,@LA;A9AG;5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555a]
!5!&C:?:9<@?MF<A9:F55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555a_
!5V&3?A;9AQ:8@F&?@Q?@F@;<:;<@F555555555555555555555555555555555555555555555555555555555555555555555555555555555555555a_
V5&#[3.#1/*+/1$*5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555a_
V5'&,@LA;A9AG;555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555a_
V5!&C:?:9<@?MF<A9:F&I&?@Q?@F@;<:;<@F555555555555555555555555555555555555555555555555555555555555555555555555555555aa
]

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

X5&,*,#C%4*+/1$*55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555aa
X5'&,@LA;A9AG;555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555aa
X5!&3?A;9AQ:8@F&?@Q?@F@;<:;<@F&I&=K?:F55555555555555555555555555555555555555555555555555555555555555555555555555aa
Z5&+#*C)%1/C/1$*5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555a6
Z5'&,@LA;A9AG;555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555a6
Z5!&3?A;9AQ:8@F&?@Q?@F@;<:;<@F&Q=?&Q:MF@F555555555555555555555555555555555555555555555555555555555555555555555 a6
]5&#13%o%55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 6O
"#$%&'Z57&)%1&+f#Y%1&"#+,#+C/%1&%&3%."/.&,#&)%&//&0f#..%&$f+,/%)55555555556'
O57&/+".*,fCC/\+555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555556'
'57&):&PUFA9:&9=;9?@<:&I&@8@9<?G;A9:55555555555555555555555555555555555555555555555555555555555555555555555555555555555 6'
!57&#8&F@?A:8AFP=&A;<@>?:8555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555556!
V57&):&PUFA9:&:8@:<=?A:&=&8:&A;N@<@?PA;:9AG;5555555555555555555555555555555555555555555555555555555555555555555556!
X57&$UFA9:&>?JQ:85555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 6V
Z57&$UFA9:&@F<=9mF<A9:555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 6V
]57&CA<:F&I&9=88:>@F5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555556V
_57&$A;AP:8AFP=&I&;J@R:&<=;:8AN:N5555555555555555555555555555555555555555555555555555555555555555555555555555555555556X
a57&):&$UFA9:&@FQ:W=8:&N@&R:;>J:?NA:55555555555555555555555555555555555555555555555555555555555555555555555555555556X
a5'57&):&0@;@?:9AG;&N@/&Z'55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555556X
a5!57&)=F&A;<@?>@;@?:9A=;:8@F&I&8:&0@;@?:9AG;&N@8&]'55555555555555555555555555555555555555555555555555556X
%;@D=&/(&CJ@F<A=;@F&9=?<:F&F=K?@&8=F&<@P:F555555555555555555555555555555555555555555555555555555555555555555555555555 6]
'5&C:?:9<@?MF<A9:F&N@8&C:;<=&0?@>=?A:;=&5555555555555555555555555555555555555555555555555555555555555555555555556]
!5&,AL@?@;9A:F&I&F@P@S:;h:F&@;<?@&"?=R:N=?@F&I&"?=R@?=F&55555555555555555555555555555555555555555556]
V5&3?A;9AQ:8@F&:J<=?@F&I&L=?P:F&PJFA9:8@F&N@&8:&@F9J@8:&N@&+=<?@&,:P@5555555555555555555556]
X5&C:?:9<@?MF<A9:F&PJFA9:8@F&N@8&%?F&+=R:55555555555555555555555555555555555555555555555555555555555555555555556_
Z5&,@LA;@&8:&L=?P:&C=?:8555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555556_
]5&,@LA;@&8:&L=?P:&$:N?A>:8(&5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555556_
_5&4J@;<@F&Q:?:&@8&@F<JNA=&N@&8:&PUFA9:&A;F<?JP@;<:8&N@8&.@;:9APA@;<=5555555555555555555556a
a5&uCJm8@F&F=;&8=F&Q?A;9AQ:8@F&A;F<?JP@;<=F&PJFA9:8@F&N@8&.@;:9APA@;<=v&5555555555555556a
65&,@LA;@&8:&L=?P:&=?:<=?A=5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555556a
'O5&uwJb&@F&8:&9:P@?:<:&L8=?@;<A;:v55555555555555555555555555555555555555555555555555555555555555555555555555555556a
''5&):&1JA<@&`:??=9:55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 66
'!5&uwJb&@F&J;:&=K@?<J?:v&#DQ8A9:&8=F&NAL@?@;<@F&<AQ=F555555555555555555555555555555555555555555555555566
'V5&CA<:&8:F&Q?A;9AQ:8@F&GQ@?:F&N@&g5&%5&$=h:?<555555555555555555555555555555555555555555555555555555555555 66
'X5&,AL@?@;9A:F&@;<?@&GQ@?:&F@?A:&I&GQ@?:&KJL:555555555555555555555555555555555555555555555555555555555555'OO
'Z5&C=PQ:?:&F=;:<:H&FA;L=;M:&I&9=;9A@?<=55555555555555555555555555555555555555555555555555555555555555555555'OO
']5&uwJb&NAL@?@;9A:F&E:I&@;<?@&@8&98:R@&I&@8&QA:;=v555555555555555555555555555555555555555555555555555555'OO
'_5&uwJb&@F&J;&)A@N&?=Pm;<A9=v555555555555555555555555555555555555555555555555555555555555555555555555555555555555'O'
'a5&"@P:FH&Q@?F=;:S@F&I&8J>:?@F&N@&8:&GQ@?:&?=Pm;<A9:55555555555555555555555555555555555555555555555'O'
'65&/;NA9:&9J:<?=&Q@^J@W:F&L=?P:F&K?@R@F&Q:?:&QA:;=&555555555555555555555555555555555555555555555555'O'
!O5&uwJb&@F&8:&PUFA9:&Q?=>?:Pm<A9:v&55555555555555555555555555555555555555555555555555555555555555555555555555'O'
!'5&#;JP@?:&:8>J;:F&9:?:9<@?MF<A9:F&N@8&;:9A=;:8AFP=&PJFA9:8(555555555555555555555555555555555'O'
!!5&CA<:&8:F&Q?A;9AQ:8@F&@F9J@8:F&;:9A=;:8AF<:F&9=;&FJF&PmDAP=F&?@Q?@F@;<:;<@F555555'O!
!V5&,AL@?@;9A:F&@;<?@&h:?hJ@8:&>?:;N@&I&>b;@?=&9EA9=&555555555555555555555555555555555555555555555555'O!
!X5&C:?:9<@?MF<A9:F&>@;@?:8@F&N@&8:&<=;:NA88:&@F9b;A9:&555555555555555555555555555555555555555555555555 'OV
!Z5&#;JP@?:&:8>J;:F&9:?:9<@?MF<A9:F&N@8&APQ?@FA=;AFP=&PJFA9:8555555555555555555555555555555'OV
!]5&uwJb&@F&@8&N=N@9:L=;AFP=v&CA<:&8=F&:J<=?@F&I&=K?:F&PmF&APQ=?<:;<@F5555555555555555'OV
!_5&uwJb&@F&8:&PUFA9:&:8@:<=?A:v55555555555555555555555555555555555555555555555555555555555555555555555555555555555'OX
!a5&,AL@?@;9A:F&@;<?@&8:&PUFA9:&9=;9?@<:&I&8:&PUFA9:&@8@9<?G;A9:5555555555555555555555555555555'OX
_

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

%+#[*&//(&"@D<=F&?@9=P@;N:N=F55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'OZ
"@P:&O'5&):&P=;=NM:&?@8A>A=F:&I&Q?=L:;:&@;&8:&#N:N&$@NA:55555555555555555555555555555555555555'OZ
"@P:&O!5&)=F&=?M>@;@F&N@&8:&Q=8AL=;M:5555555555555555555555555555555555555555555555555555555555555555555555555 'O]
"@P:&OV5&):&PUFA9:&R=9:8&@;&@8&.@;:9APA@;<=555555555555555555555555555555555555555555555555555555555555'O_
"@P:&OX5&):&PUFA9:&A;F<?JP@;<:8&@;&@8&.@;:9APA@;<=55555555555555555555555555555555555555555555555'Oa
"@P:&OZ5&):&PUFA9:&A;F<?JP@;<:8&@;&@8&`:??=9=555555555555555555555555555555555555555555555555555555555'O6
"@P:&O]5&):&PUFA9:&R=9:8&@;&@8&`:??=9=5555555555555555555555555555555555555555555555555555555555555555555555''O
"@P:&O_5&):&PUFA9:&A;F<?JP@;<:8&@;&@8&C8:FA9AFP=55555555555555555555555555555555555555555555555555555'''
"@P:&Oa5&):&PUFA9:&R=9:8&@;&@8&C8:FA9AFP=555555555555555555555555555555555555555555555555555555555555555555''!
"@P:&O65&):&PUFA9:&A;F<?JP@;<:8&@;&@8&.=P:;<A9AFP=5555555555555555555555555555555555555555555555''V
"@P:&'O5&):&PUFA9:&R=9:8&@;&@8&.=P:;<A9AFP=555555555555555555555555555555555555555555555555555555555555''X
"@P:&''5&):&PUFA9:&+:9A=;:8AF<:5555555555555555555555555555555555555555555555555555555555555555555555555555555555 ''Z
"@P:&'V5&):&N:;h:&I&@8&K:88@<55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'']
"@P:&'X5&):&PUFA9:&N@8&FA>8=&[[&E:F<:&8:&!t&0J@??:&$J;NA:85555555555555555555555555555555555555''_
"@P:&'Z5&):&PUFA9:&N@8&FA>8=&[[&N@FN@&8:&!t&0J@??:&$J;NA:8555555555555555555555555555555555555''a
%+#[*&///(&%JNA9A=;@F&?@9=P@;N:N:F&Q:?:&9:N:&J;AN:N555555555555555555555555555555555555555555555555555 ''6
f;AN:N&O'5&):&P=;=NA:&?@8A>A=F:&I&Q?=L:;:&@;&8:&#N:N&$@NA:5&&555555555555555555555555555555555''6
f;AN:N&O!5&):&Q=8AL=;M:&P@NA@R:85&&555555555555555555555555555555555555555555555555555555555555555555555555555555''6
f;AN:N&OV5&):&PUFA9:&R=9:8&@;&@8&.@;:9APA@;<=5&&5555555555555555555555555555555555555555555555555555555''6
f;AN:N&OX5&):&PUFA9:&A;F<?JP@;<:8&@;&@8&.@;:9APA@;<=5&&555555555555555555555555555555555555555555''6
f;AN:N&OZ5&):&PUFA9:&A;F<?JP@;<:8&@;&@8&`:??=9=5&&5555555555555555555555555555555555555555555555555555''6
f;AN:N&O]5&):&PUFA9:&R=9:8&@;&@8&`:??=9=5&&5555555555555555555555555555555555555555555555555555555555555555'!O
f;AN:N&O_5&):&PUFA9:&A;F<?JP@;<:8&@;&@8&C8:FA9AFP=5&&5555555555555555555555555555555555555555555555'!O
f;AN:N&Oa5&):&PUFA9:&R=9:8&@;&@8&C8:FA9AFP=5&&55555555555555555555555555555555555555555555555555555555555'!O
f;AN:N&O65&):&PUFA9:&A;F<?JP@;<:8&@;&@8&.=P:;<A9AFP=5&&5555555555555555555555555555555555555555'!O
f;AN:N&'O5&):&PUFA9:&R=9:8&@;&@8&.=P:;<A9AFP=5&&555555555555555555555555555555555555555555555555555555'!'
f;AN:N&''5&):&PUFA9:&+:9A=;:8AF<:5&&5555555555555555555555555555555555555555555555555555555555555555555555555555 '!'
f;AN:N&'!5&):&h:?hJ@8:55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555'!'
f;AN:N&'V5&):&N:;h:&I&@8&K:88@<&5555555555555555555555555555555555555555555555555555555555555555555555555555555555555'!'
f;AN:N&'X5&):&PUFA9:&N@8&FA>8=&[[&E:F<:&8:&!t&0J@??:&$J;NA:85&&5555555555555555555555555555555'!'
f;AN:N&'Z5&):&PUFA9:&N@8&FA>8=&[[&N@FN@&8:&!t&0J@??:&$J;NA:855555555555555555555555555555555'!!
%+#[*&/Y(&$=N@8=&N@&#DmP@;@F&N@&35%5f5&I&N@&LA9E:&N@&:JNA9AG;55555555555555555555555555555555555'!V

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

'&()*+,*-)*(.".#!)*/&-$0$.1)*2*3/.4)")* *#&*-)*
&#)#*(&#$)
'57&$UFA9:&R=9:8&?@8A>A=F:&@;&8:&#N:N&$@NA:
:B&C=;<@D<=&EAF<G?A9=H&F=9A:8&I&9J8<J?:8
KB&,@LA;A9AG;&I&9:?:9<@?MF<A9:F&N@8&9:;<=&>?@>=?A:;=
9B&C8:FALA9:9AG;&N@&8=F&9:;<=F(&8:&?@8:9AG;&<@D<=7P@8=NM:
NB&4=?P:F&N@&A;<@?Q?@<:?&@8&9:;<=&>?@>=?A:;=
@B&C=;<@D<=&N=;N@&F@&N@F:??=88:&@8&9:;<=&>?@>=?A:;=(&8:&PAF:&I&@8&=LA9A=&N@&8:F&E=?:F
LB&4=?P:F&Q:?:8A<U?>A9:F
!57&$UFA9:&R=9:8&Q?=L:;:&@;&8:&#N:N&$@NA:5&
:B&C=;<@D<=&PJFA9:8
KB&"?=R:N=?@FH&<?=R@?=FH&SJ>8:?@FH&PA;;@FA;>@?
9B&):&PUFA9:&P@NA@R:8&@;&#FQ:W:(&):F&9:;<A>:F

!"#$%&$'()*+$,-.,+-/()+$
56*%789:;97*<=>9?@=A7B*>7A=5C*D*AEC9E@5C
):&#N:N&$@NA:&:K:?9:&@8&Q@?A=N=&9=PQ?@;NAN=&N@FN@&8:&C:MN:&N@8&/PQ@?A=&.=P:;=&
@;&@8&:W=&X_]&N5C5&N@KAN=&:&8:&A;R:FAG;&7&9=8=;Ah:9AG;&N@&8=F&QJ@K8=F&>@?Pm;A9=FH&E:F<:&
P@NA:N=F&N@8&FA>8=&[Y&N5CH&9J:;N=&8:&9AJN:N&N@&C=;F<:;<A;=Q8:&@F&9=;^JAF<:N:&Q=?&8=F&
<J?9=F&@;&@8&:W=&'XZV5
): & #N:N & $@NA: & F@ & NARAN@ & @; & %8<: & #N:N & $@NA: & I & `:S: & #N:N & $@NA:5 & ): & ?@8A>AG;&
9?AF<A:;:&F@&9=;RA@?<@&@;&@8&FAF<@P:&N@&Q=N@?&N@&8=F&NAF<A;<=F&@F<:N=F5&#J?=Q:&FJL?@&J;:&
NARAFAG;&?@8A>A=F:&c9AFP:B&@;<?@&*99AN@;<@&c.=P:B&I&*?A@;<@&c`Ah:;9A=B&Q=?&P=<AR=F&Q:Q:8@F&
c:J<=?AN:N&@98@FAmF<A9:B5
1J?>@&@8&/F8:P&9=P=&?@8A>AG;&P=;=<@MF<:&c$:E=P:&PJ@?@&@;&@8&]V!B&^J@&<A@;@&J;:&
@;=?P@&LJ@?h:&@DQ:;FAR:H&F=K?@&<=N=&Q=?&8:&3@;M;FJ8:&/Kb?A9:5&,A9E:&@DQ:;FAG;&F@&L?@;:&@;&
8:F&0:8A:F5
C:?8=P:>;=&F@&9=;RA@?<@&@;&@PQ@?:N=?&I&J;ALA9:&<=N:&#J?=Q:&N@FN@&@8&QJ;<=&N@&
RAF<:&9ARA8&I&?@8A>A=F=&c/PQ@?A=&C:?=8A;>A=B5&#F&J;&P=P@;<=&N@&@FQ8@;N=?&9J8<J?:85
):F & 9?Jh:N:F & F=; & qQ@?@>?A;:9A=;@F & :?P:N:Fr & Q?=PJ8>:N:F & Q=? & @8 & 3:Q: & Q:?:&
:??@K:<:?&"A@??:&1:;<:&:&8=F&A;LA@8@F5
#8 & FAF<@P: & Q=8M<A9= & 7 & @9=;GPA9= & 7 & F=9A:8 & N@ & 8: & #N:N & $@NA: & F@ & N@;=PA;:&
4#f,%)/1$*(&8=F&F=K@?:;=F&I&8=F&>?:;N@F&F@W=?@F&9@NM:;&<A@??:F&:&8=F&R:F:88=F&:&9:PKA=&
N@&LAN@8AN:N&I&F@?RA9A=&PA8A<:?5
):&F=9A@N:N&L@JN:8&F@&K:F:K:&@;&<?@F&@F<:NA=F(&
'x&8=F&98b?A>=FH
!x&8=F&F@W=?@F&I&F=8N:N=FH
Vx&8=F&9:PQ@FA;=F5
):&9J8<J?:&I&8:F&:?<@F&@F<:K:;H&@;&FJ&>?:;&P:I=?M:&@;&P:;=F&N@&8=F&P=;S@FH&^J@&
<?:K:S:K:;&I&?@h:K:;&@;&8=F&P=;:F<@?A=F5
#8&:?<@&^J@&AN@;<ALA9:&:&8:&#N:N&$@NA:&@F(
6

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

! #8 & ?=Pm;A9=( & :?^JA<@9<J?: & >?J@F:H & :?9= & N@ & P@NA= & QJ;<= & I & QA;<J?:&
@F^J@Pm<A9:&cFA>8=F&[&:8&[//B5
! #8 & >G<A9=( & :?^JA<@9<J?: & @FK@8<:H & :?9= & :QJ;<:N=H & I & QA;<J?: & PmF&
;:<J?:8AF<:&cN@FN@&8:&!t&PA<:N&N@8&F5&[//&:8&[/YB5

F6*#:G=8=A=?8*D*A5@5A9:@H>9=A5>*I:C*A5897*0@:J7@=587
1@&88:P:&C%+"*&0.#0*./%+*&:8&?@Q@?<=?A=&N@&9:;9A=;@F&?@9=QA8:N:F&I&J;ALA9:N:F&
Q=?&@8&3:Q:&1:;&0?@>=?A=&$:>;=&cZ6O&d&]OXB&@;&<=N=F&8=F&<@??A<=?A=F&9?AF<A:;=F&N@&#J?=Q:5&
1@&<?:<:&N@&9:;<=F&^J@&;=&Q?@<@;NM:;&F@?&:?<MF<A9=FH&FA;=&9JPQ8A?&8:&LA;:8AN:N&N@&?@:8h:?&8:&
Q:8:K?:&N@&,A=F5&3=?&8=&<:;<=&F@&9:;<:K:&@;&P=;:F<@?A=F&I&9:<@N?:8@FH&9=;&8:&PAF:&9=P=&
9@?@P=;A:&9@;<?:85
C:?:9<@?MF<A9:F(
'5 $=;GNA9=
!5 Y=9:8&c:&9:Q@88:B
V5 C:;<=&9=8@9<AR=
X5 .@Q@?<=?A=&:;G;AP=&
Z5 4J;9AG;&8A<U?>A9:&
]5 "@D<=&@;&8:<M;&c>?A@>=H&E@K?@=B
_5 .A<P=&;:<J?:8H&8AK?@H&@;&LJ;9AG;&N@8&<@D<=
a5 $@8=NM:&P=N:8

A6*%C5>=G=A5A=?8*I:*C7>*A5897>*C5*@:C5A=?8*9:;97*K:C7IH5,
1@&K:F:&@;&<?@F&@F<A8=F(
! &1A8mKA9=&( & : & 9:N: & FM8:K: & N@8 & <@D<= & 8@ & 9=??@FQ=;N@ & J;: & ;=<: & c: & R@9@F & N=FB5 & #F<= & 8=&
@;9=;<?:P=F&@;&8=F&?@9A<:<AR=F5
! &$@8AFPm<A9=&( &:&9:N:&FM8:K:&8@&9=??@FQ=;N@&J;&;UP@?=&@8@R:N=&N@&;=<:F&cZH&]&H&_yB5&
3=?&@S@PQ8=&@;&8=F&:88@8JA:F
! &+@JPm<A9=&(&:&9:N:&FM8:K:&8@&9=??@FQ=;N@;&&N=FH&<?@F&=&9J:<?=&;=<:FH&@F&N@9A?H&^J@&;=&
@F&J;:&QA@h:&FA8mKA9:&;A&P@8AFPm<A9:5&f;&@S@PQ8=&8=&@;9=;<?:P=F&@;&8=F&>?:NJ:8@F5

I6 * 47@K5> * I: * =89:@L@:95@ * :C * %5897 * 0@:J7@=587B * I:@=M5I5> * I: * C5*

G7@K5*I:*A5895@*C7>*>5CK7>*:8*C5*C=9E@J=5*NEIH5,
#DAF<@;&<?@F&L=?P:F(
! &,A?@9<:&(&9:;<:N:&Q=?&<=N=&@8&9=?=&<=N:&8:&QA@h:&cN@&Q?A;9AQA=&:&LA;B(&*L@?<=?A=
! &%;<AL=;:8&(&1@&@;L?@;<:&J;&9=?=&9=;<?:&=<?=5
! &.@FQ=;F=?A:8&( &1@&@;L?@;<:&J;&9:;<:;<@&F=8AF<:&=&J;:&@F9=8:;M:&c9=?=&Q@^J@W=B&9=;&
<=N=&@8&9=?=5

:6*%789:;97*I78I:*>:*I:>5@@7CC5*:C*%5897*0@:J7@=587
#8&C:;<=&0?@>=?A:;=&<A@;@&FJ&?:hG;&N@&F@?&N@;<?=&N@&8=F&?A<=F&N@&8:&8A<J?>A:&9?AF<A:;:5&
#F<=F&?A<=F&F=;&N=F&Q?A;9AQ:8P@;<@(&
! ):&PAF:(&?A<=&N@F<A;:N=&:&<=N:&8:&9=PJ;AN:N5&"A@;@&8J>:?&<=N=F&8=F&NM:F&I&@;&@FQ@9A:8&
8=F&N=PA;>=F5
! #8&=LA9A=(&@F&@8&?A<=&N@F<A;:N=&:&<=N=F&8=F&P=;S@F&cF=K?@&<=N=&N@&P=;:F<@?A=FB5
0($1/2(

):&PAF:&@F&@8&?A<=&N@F<A;:N=&:&<=N:&8:&9=PJ;AN:N&I&@;&@8&9J:8&F@&?@P@P=?:&8:&U8<AP: &
9@;: & N@ & C?AF<=5 & #8 & P=P@;<= & 9@;<?:8 & N@ & 8: & PAF: & F@ & Q?=NJ9@ & 9J:;N= & @8 & =I@;<@ & Q:?<A9AQ:&
'O

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

NA?@9<:P@;<@&N@&8:&9=PJ;AG;5&):&@F<?J9<J?:&N@&8:&PAF:&:9<J:8&@F&FAPA8:?&:&8:&@F<?J9<J?:&N@&
J;:&PAF:&N@8&FA>8=&[/5
3:?<@F&9:;<:N:F&N@&J;:&PAF:(&
"=N:F & 8:F & Q:?<@F&PJFA9:8@F&= &9:;<:N:F &N@ &J;: &PAF:&F@&QJ@N@;&98:FALA9:? &N@;<?= &N@& N=F&
K8=^J@F&=&<AQ=F&N@&9:;<=Fz&8=F&88:P:N=F&A5897>*I:C*7@I=85@=7&I&8=F&A5897>*I:C*L@7L=7*
N@&8:&PAF:5
#8 &7@I=85@=7,& #F<m&L=?P:N=&Q=?&9A;9=&9:;<=F5&%;<A>J:P@;<@&@?:;&F@AFH&I:&^J@&8:&
PAF:&F@&<@?PA;:K:&9=;&@8&88:P:N=&/"#&$/1%&#1"H&^J@&:9:K:?M:&N@F:Q:?@9A@;N=&:&8=&
8:?>=&N@8&.@;:9APA@;<=5
):&Q?A;9AQ:8&9:?:9<@?MF<A9:&N@&8=F&9:;<=F&N@8&=?NA;:?A=&@F&^J@&9:N:&J;=&N@&@88=F&Q=F@@&
FJ&Q?=QA=&<@D<=H&@8&9J:8&@F&A;R:?A:K8@&:&8=&8:?>=&N@&<=N=&@8&:W=5&
)=F&9A;9=&9:;<=F&F=;&cFA>JA@;N=&FJ&=?N@;&N@&:Q:?A9AG;&@;&8:&PAF:B(
!
!
!
!
!
!

i2./#
0)*./%
C.#,*
1%+C"f1
%0+f1&,#/
c&/"#&$/11%&#1"&B

#8 &L@7L=7&N@&8:&PAF:(&#F<m&L=?P:N=&Q=?&@8&9=;SJ;<=&N@&9:;<=F&9JI=F&<@D<=F&R:?M:;&
NA:?A:P@;<@&F@>U;&8:F&@F<:9A=;@F&N@8&:W=&8A<U?>A9=5&):&P:I=?M:&N@&@F<=F&9:;<=FH&=&Q=?&
8=&P@;=F&FJF&<@D<=FH&@F<m;&@;<?@&8:F&Q:?<@F&PmF&:;<A>J:F&N@&8:&PAF:5&)=F&9:;<=F&N@8&
=?NA;:?A=&F=;&9A;9=(
!
!
!
!
!

/+".*/"*
0.%,f%)
%))#)f/%&c=&".%C"*&^J@&FJF<A<JI@&:8&%88@8JA:&@;&bQ=9:&N@&3:F9J:B
*4#."*./*
C*$f+/\+

#;&8=F&9:;<=F&N@8&3?=QA=&N@&8:&PAF:H&@;9=;<?:P=F&8=F&N=F&<AQ=F&KmFA9=F&N@&F:8P=NA:&=&
P=N=&N@&A;<@?Q?@<:?&8=F&F:8P=FH&E@?@N:N=F&N@8&PJ;N=&SJNM=(
7 & )=F &A5897> * 589=G785C:>( & ^J@ & F@ & 9:;<:; & 9=; & J;: & :;<ML=;: & c/+".*/"*H&
*4#."*./*&I&C*$f+/\+B
7 & )=F &A5897> * @:>L78>7@=5C:>( & Q?@>J;<:F & I & ?@FQJ@F<:F & @;<?@ & 9=?=F&
c0.%,f%)H&%))#)f/%{".%C"*B5
%&$34/'/+$5.$&(2$6+-(2

C=P= & E@P=F & NA9E= & :;<@?A=?P@;<@H & FA & 8: & PAF: & @?: & @8 & ?A<= & N@F<A;:N= & : & <=N: & 8:&
9=PJ;AN:NH&@8&7G=A=7&@F&@8&9=;SJ;<=&N@&?@h=F&N@F<A;:N=F&:&8=F&P=;S@F5
1:K@P=F&^J@&NJ?:;<@&8:&#N:N&$@NA:&I&@8&.@;:9APA@;<=H&F@&9:;<:K:;&Q:?:&<=N=&@8&
QUK8A9=&@;&8:&9:<@N?:8H&I:&^J@&FJ&=?A>@;&Q?=9@N@&N@&8:F&:;<A>J:F&9=PJ;AN:N@F&9?AF<A:;:F5
''

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

#8&=LA9A=&Q?=9@N@&N@&8:&?@>8:&N@&1:;&`@;A<=&cF5&Y/BH&L:P=F=&Q=?&@F<:K8@9@?&8:F&E=?:F&N@&
8=F&?@h=F&N@&9:N:&NM:&@;&8:&88:P:N:&q!"#$%&'"(")*+,*(%r5&":8&?@>8:&F@&FA>J@&@;&PJI&Q=9=F&
P=;:F<@?A=F&N@&L=?P:&@F<?A9<:5
)=F&=9E=&=LA9A=F&NA:?A=F&:Q:?@9@;&@;&@8&=?N@;&FA>JA@;<@&c8:F&E=?:F&F=;&:Q?=DAP:N:FB(
()$'$"&1
-)O#&1
3./$%
"#.C/%
1#["%
+*+%
P!13&/)1
%.(3-&')1

%8>=&N@FQJbF&N@&8:&P@NA:&;=9E@
%8&:P:;@9@?
%&8:F&F@AF&N@&8:&P:W:;:
%&8:F&;J@R@&N@&8:&P:W:;:
%8&P@NA=NM:
%&8:F&<?@F&N@&8:&<:?N@
%&U8<AP:&E=?:&N@&8:&<:?N@
%;<@F&N@&?@<A?:?F@

| & ):F & 9J:<?= & E=?:F & P:I=?@F & F=;( & $%/"/+#1H & )%f,#1H & Y-13#.%1 & I&
C*$3)#"%1&c):&E=?:&PJFA9:8P@;<@&PmF&A;<@?@F:;<@&@F&$%/"/+#1B
|&):F&9J:<?=&E=?:F&P@;=?@F&F=;(&3./$%H&"#.C/%H&1#["%&I&+*+%5

G6*47@K5>*35@5C=9Q@J=A5>
1=;&L=?P:F&Q=F<@?A=?@F&:8&C:;<=&0?@>=?A:;=&^J@&FJ?>A@?=;&:&Q:?<A?&N@8&FA>8=&/[H&@;&
J;:&bQ=9:&N@&@FQ8@;N=?&9J8<J?:85
'@7L7>5&1=;&J;&:W:NAN=&<:;<=&PJFA9:8&9=P=&<@D<J:8&:&J;:&QA@h:&>?@>=?A:;:5&,@&@F<:&L=?P:&
F@ & Q=NM:; & :W:NA? & P@8AFP:FH & F@ & 9=8=9:; & FM8:K:F & ;J@R:F & : & P@8AFP:F & I: & @DAF<@;<@F & = & F@&
:W:NM:;&<@D<=F&9=;&PUFA9:&9=PQ8@<:P@;<@&;J@R=F&9=P@;<:;N=&@8&9=;<@;AN=&N@&8:&QA@h:&
<?=Q:N:5&#F<:&U8<AP:&@F&8:&L=?P:&N@&<?=Q=&PmF&9=PU;&I&F@&N:&@;&9:FA&<=N:F&8:F&QA@h:F&N@&8:&
8A<J?>A:&F=K?@&<=N=&@;&8=F&A;<?=A<=FH&=L@?<=?A=F&I&9=PJ;A=;@F5
&
1:AE:8A=5>5&#F&8:&L=?P:&Q:?:8A<U?>A9:&PmF&APQ=?<:;<@&NJ?:;<@&8:&#N:N&$@NA:H&^J@&N@?AR:&
N@&8=F&P@8AFP:F&N@8&%88@8JA:&A;N@Q@;NAhm;N=F@&N@&bF<:F&QA@h:F&?mQAN:P@;<@5&,@FN@&@8&QJ;<=&
N@&RAF<:&8A<U?>A9=&8:F&F@9J@;9A:F&L=?P:?M:;&Q:?<@&N@8&3?=QA=&N@&8:&PAF:5&):&9:?:9<@?MF<A9:&
LJ;N:P@;<:8&N@&8:F&F@9J@;9A:F&@F&FJ&LJ;9A=;:PA@;<=&@;&K:F@&:&8:&?@Q@<A9AG;&N@&L?:F@F5&):F&
F@9J@;9A:F&F@&?@9=QA8:;&@;&8=F&F@9J@;9A:?A=F5&
&
#@5K5 * C=9Q@J=A75 & #F & J;: & N@ & 8:F & A;;=R:9A=;@F & PmF & A;<@?@F:;<@F & ^J@ & ?@:8AhG & 8: & A>8@FA:&
9?AF<A:;:&Q:?:&@PK@88@9@?&8:&8A<J?>A:5&)=F&N?:P:F&8A<U?>A9=F&N@?AR:;&Q?=K:K8@P@;<@&N@&8=F&
<?=Q=F&9=;RA?<Ab;N=F@&@;&9=PQ=FA9A=;@F&8A<@?:?A:F&I&PJFA9:8@F&9=;&:?>JP@;<=&I&NAm8=>=F&
8=F&9J:8@F&88@>:K:;&:&@F9@;ALA9:?F@&@;&@8&:8<:?&Q=?&F:9@?N=<@F&I&P=;S@F&@;&8=F&FA>8=F&[&I&[/5&
)=F&N?:P:F&8A<U?>A9=F&PmF&APQ=?<:;<@F&F=;(
'5 q-."/&0.%"!*,*1r&cu%&^JAb;&KJF9mAFvB&=&q2*1*,%,*3&4"5.$+!*r&:Q:?A9AG;&N@8&m;>@8&:&8:F&
<?@F&&$:?M:F&&^J@&RAFA<:;&@8&F@QJ89?=&N@&9?AF<=5
!5 q2*1*,%,*3&5"1"'!"r&:Q:?A9AG;&N@8&m;>@8&:&8=F&Q:F<=?@F&Q:?:&:;J;9A:?8@F&@8&;:9APA@;<=&
N@&C?AF<=5
V5 q6$&/*1,"!*3&)"&6$+7"r

7"#$892/'($:+'(&$;-+4()($.)$&($%5(5$8.5/(
56*%789:;97*KE>=A5C
#;&8:&#N:N&$@NA:H&8=F&F@W=?@F&F=8M:;&Q@?P:;@9@?&PJ9E=&<A@PQ=&LJ@?:&N@8&9:F<A88=H&
'!

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

=9JQm;N=F@&N@&8:&>J@??:&=&N@&8:&9:h:5&3=?&@F=&@8&N@F:??=88=&N@&8:&PUFA9:&Q=QJ8:?&:Q:?@9@&J;&
Q=9=&PmF&<:?N@(&@;<?@&8=F&FA>8=F&[//&I&[///5

F6*'@7M5I7@:>B*9@7M:@7>B*NEJC5@:>B*K=88:>=8J:@
#8&P=RAPA@;<=&<?=R:N=?@F9=&@F<:K:&L=?P:N=&Q=?&Q@?F=;:S@F&9J8<=FH&Q=@<:F7PUFA9=FH&
9:;<:J<=?@FH & ^J@ & 9?@:K:; & 8: & Q?=QA: & PUFA9: & N@ & FJF & 9:;9A=;@F5 & #8 & <@P: & PmF & Q=QJ8:?( & @8&
%$*.&C*."p15
C:FA&<=N=F&@?:;&;=K8@F&^J@&9:;<:K:;&@;&FJ&8@;>J:&P:<@?;:&c8@;>J:&R@?;m9J8:B&I&;=&
@;&8:<M;&c:&@D9@Q9AG;&N@&8=F&J7C=5@I7>&^J@&LJ@?=;&98b?A>=F&I&P=;S@F&N@F@?<=?@F&^J@&AK:;&
P@;NA>:;N=&N@&QJ@K8=&@;&QJ@K8=H&9:;<:;N=&Q=@FM:F&@;&8:<M;5&):&<@Pm<A9:&N@&FJF&9:;9A=;@F&
@?:(&@8&RA;=H&@8&:P=?&8AK?@H&8:&Q?AP:R@?:y&):F&Q=@FM:F&9=;F@?R:N:F(&8%!/*(%&9.!%(%B5
'@7M5I7@:>,&9=;&@88=F&F@&A;A9A:&8:&PUFA9:&Q?=L:;:5&1=;&Q=@<:F&^J@&Q?=RA@;@;&N@8&1J?&N@&
4?:;9A:&@;<?@&8=F&:W=F&'OZO&I&'!OOH&@F9?AKA@;N=&@;&8@;>J:&Q?=R@;h:8&c8@;>J:&=9B5&#8&9@;<?=&
9J8<J?:8&@F&@8&P=;:F<@?A=&N@&1:;&$:?9A:8&)AP=>@F5&
#8&<?=R:N=?&PmF&:;<A>J=&9=;=9AN=&@F&0JA88@?P=&/[&N@&3=A<A@?FH&NJ^J@&N@&%^JA<:;A:&
c'O_'7''!_B5&#;&@F<:&h=;:&Q?=R@;h:8&N@&4?:;9A:&N@F<:9:;&`@?;:?N&N@&Y@;<:N=?;H&$:?9:K?U&
I&.:PK:J<&N@&Y:^J@A?:FH&@;<?@&=<?=F
#8&<?=R:N=?H&9=P=&I:&E@P=F&NA9E=H&@?:&J;&PUFA9=&Q=@<:H&9=PQ=FA<=?&@&A;<b?Q?@<@&N@&
FJF&Q?=QA:F&9:;9A=;@F5&^J@&Q@?<@;@9M:&:&8:&98:F@&:?AF<=9?m<A9:&I&9JI:F&9:;9A=;@F&QJ@N@;&
98:FALA9:?F@&F@>U;&FJ&9=;<@;AN=&@;(
CE:;F=;F(&9:;9A=;@F&N@&:P=?
1A?R@;<bF(&9:;9AG;&F=K?@&8:&RAN:&@;&>@;@?:8H&QJNA@;N=&F@?&F:<M?A9=H&Q=8M<A9=y&
"@;FG(&9:;9A=;@F&N@&NAFQJ<:&@;<?@&<?=R:N=?@F
3:F<=?@8:(&@8&:P=?&N@8&9:K:88@?=&E:9A:&J;:&Q:F<=?:5
%8K:(&=&8:&F@Q:?:9AG;&N@&8=F&@;:P=?:N=F&:8&:P:;@9@?
`:8:N:&=&N:;F:(&9:;9A=;@F&N@&N:;h:
#8&@F<A8=&FJ@8@&F@?&N@&?A<P=&P:?9:N=H&R:?A:N=H&N@Q@;NA@;N=&N@8&F@;<AN=&A;<@8@9<J:8&
N@8 & <@D<= & c>J@??@?=H & <?AF<@H & :P=?=F=B5 & 1@ & :9=PQ:W:; & 9=; & A;F<?JP@;<=F & cRA=8:FH & :?Q:FH&
Q@?9JFAG;B
'@7M:@7>, *:Q:?@9@;&:&LA;:8@F&N@8&FA>8=&[//&@;&@8&;=?<@&N@&4?:;9A:& &I&@F9?AK@;&@;&8@;>J:&
Nn*}8H&NA:8@9<=&^J@&E:&N:N=&8J>:?&:8&L?:;9bF&P=N@?;=5&#8&?@Q@?<=?A=&@F&P:I=?&^J@&@8&N@&8=F&
<?=R:N=?@F&I&F@&9=;F@?R:;&J;&P:I=?&;UP@?=&N@&P@8=NM:F5
,@F<:9:;&.A9:?N=&C=?:hG;&N@&)@G;H&`8=;N@8&N@&+@F8bH&@<95
REJC5@:>(&@?:;&9:;<=?@F&Q@?=&;=&9=PQ=FA<=?@F&N@&FJF&R@?F=FH&N@&98:F@&PmF&K:S:5&#F<:&@F&8:&
Q?A;9AQ:8 & NAL@?@;9A: & 9=; & 8=F & <?=R:N=?@F & I & <?=R@?=F5 & )=F & SJ>8:?@F & @?:; & :?<AF<:F & N@&
@;<?@<@;APA@;<=H&N=<:N=F&Q:?:&<=9:?&A;F<?JP@;<=FH&9:;<:?H&9=;<:?&EAF<=?A:F&=&8@I@;N:F&I&
E:9@?&:9?=K:9A:F5
&
(=88:>=8J:@(&@^JAR:8@;<@F&:8@P:;@F&:&8=F&<?=R:N=?@F&I&<?=R@?=F5&1J?>@;&E:9A:&@8&FA>8=&[//&
@; & @8 & ;=?<@ & N@ & %8@P:;A:5 & 1JF & <@P:F & F=;( & 9:;9A=;@F & :P=?=F:FH & 9:;9A=;@F & F@;<@;9A=F:FH&
9:;9A=;@F & & P=?:8Ah:;<@FH & 9:;9A=;@F & NANm9<A9:F555 & :J;^J@ & 9:FA & FA@PQ?@ & 9=; & 8: & PAFP:&
@F<?J9<J?:&'%!&c::KB5&1@&:9=PQ:W:;&9=;&A;F<?JP@;<=FH&:J;^J@&FG8=&9=;F@?R:P=F&8:&Q:?<@&
R=9:85&
'V

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

&

A6*-5*KQ>=A5*K:I=:M5C*:8*&>L5S5,*C5>*%589=J5>T*
-5>*%589=J5>(&#F<:F&9:;9A=;@F&@F<m;&?@9=QA8:N:F&@;&8:&9=?<@&N@&%8L=;F=&[&@8&F:KA=&:&LA;:8@F&
N@8&FA>8=&[///5&1@>J?:P@;<@&9=P=&<?=R:N=?H&<:PKAb;&QJN=&:Q=?<:?&:8>J;:5&

&

'5 1=;&9:;9A=;@F&@;&@F<A8=&<?=R:N=?@F9=&=?A@;<:N=&:&8=&?@8A>A=F=5&
!5 1=;&J;:F&X'_&^J@&F@&9=;F@?R:;&@;&R:?A=F&9GNA9@F&c`AK8A=<@9:&+:9A=;:8&N@&$:N?ANH&@8&
#F9=?A:8&I&48=?@;9A:B&5
V5 #8 & ?@Q@?<=?A= &;= &88@>G &:&Q=QJ8:?Ah:?F@H&QJ@F&F@&8APA<:K: &: &9:QA88:F&I&Q:8:9A=F5 & ):&
P:I=?M:&F@&K:F:;&@;&8:&YA?>@;&$:?M:5&1=;&9J@;<=FH&:;b9N=<:F&PA8:>?=F:FH&EAF<=?A:F&
8@>@;N:?A:F&@;&8:<M;&=&@;&8@;>J:&RJ8>:?H&E@9E=F&L:;<mF<A9=Fy&
X5 .@U;@; & 8=F & NAR@?F=F & <AQ=F & N@ & @DQ?@FAG; & PJFA9:8 & @J?=Q@:( & 8=F & @F<A8=F & N@ & PUFA9:&
L?:;9@F:H & 9:F<@88:;:H & >:88@>:H & Q=?<J>J@F:H & SJNM: & I & m?:K@5 & $J9E:F & N@ & @88:F & F=;&
P@8=NM:F&Q=QJ8:?@F&:;<A^JMFAP:F5
Z5 ):F&9:;<A>:F&N@F<:9:;&Q=?&FJ&;=<:9AG;H&8:&9J:8&FA;<@<Ah:&<=N=&@8&Q?=9@F=&@R=8J<AR=&N@&
8: & ;=<:9AG; & P@;FJ?:8 & @J?=Q@:5 & #8 & @F<A8= & N@ & PUFA9: & @F & P=;GNA9: & 9=;&
:9=PQ:W:PA@;<=&N@&A;F<?JP@;<=F&^J@&N=K8:;&8:&P@8=NM:&:&NAF<A;<:F&=9<:R:F5&

,@;<?= & N@ & 8: & PUFA9: & N@ & 8: & Q@;M;FJ8: & AKb?A9: & N@ & 8: & bQ=9:H & E:I & ^J@ & P@;9A=;:?&
;@9@F:?A:P@;<@&8:F&qC:;<A>:F&N@&:PA>=rN@8&SJ>8:?&N@&YA>=H&$:?<M;&CGN:D5&
$:?<M;&C=N:D&c=&$:?<AP&C=N:DB&LJ@&J;&SJ>8:?&>:88@>=H&Q=FAK8@P@;<@&N@&YA>=H&Q=?&8:F&
9=;<A;J:F&?@L@?@;9A:F&:&NA9E:&9AJN:N&@;&FJF&Q=@P:FH&N@&@;<?@&P@NA:N=F&N@8&FA>8=&[///&I&
9=PA@;h=F&N@8&FA>8=&[/Y5&%Q@;:F&@DAF<@;&N:<=F&F=K?@&8:&AN@;<AN:N&N@8&Q@?F=;:S@5
#8&9=?QJF&8A<@?:?A=&:&b8&:<?AKJAN=&F@&8APA<:&:&_&9:;<A>:F&N@&:PA>=&^J@&LA>J?:;&@;&8=F&
9:;9A=;@?=F & N@ & 8M?A9: & >:8:A9=Q=?<J>J@F: & I & @; & @8 & 3@?>:PA;= & YA;N@8H & @; & @8 & ^J@ & LA>J?: & FJ&
;=PK?@&9=P=&:J<=?&N@&8:F&9=PQ=FA9A=;@F5&#8&N@F9JK?APA@;<=&N@&@F<@&Q@?>:PA;=&LJ@&L?J<=&
N@8&:h:?(&@;&'6'X&@8&KAK8AG>?:L=&3@N?=&YA;N@8&8=&@;9=;<?G&@;&FJ&KAK8A=<@9:H&FA?RA@;N=&N@&
>J:?N:&A;<@?A=?&:&J;&@S@PQ8:?&N@8&:"&3;;*+**1&N@&CA9@?G;5

'X

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

'&()*UT*-)*3.-$4."!)*(&#$&P)'57&/;<?=NJ99AG;5&C=;<@D<=&EAF<G?A9=&I&F=9A:85
!57&3=8AL=;M:&Q?APA<AR:
V57&#8&%?F&%;<A^J:5&):F&@F9J@8:F&N@&1:;&$:?9A:8&N@&)AP=>@F&I&+=<?@&,:P@&N@&3:?MF5
VT++=<:9AG;
VTU
#8&P=<@<@
VTV
C=PQ=FA<=?@F
VTW
#F9J@8:&N@&1:;&$:?9A:8&N@&)AP=>@F
VTX
#F9J@8:&N@&+=<?@&,:P@&N@&3:?MF
%5&$=N=F&?M<PA9=F
`5&*?>:;JP
C5&C=;NJ9<JF
,5&$=<@<@
#5&C=PQ=FA<=?@F
X57&#8&%?F&+=R:
X5'&C=;<@D<=&EAF<G?A9=&I&F=9A:8
X5!&C:?:9<@?MF<A9:F&PJFA9:8@F
X5V&4=?P:F&PJFA9:8@F
X5X&C=PQ=FA<=?@F
%5&4?:;9A:(&05&$:9E:J<
`5&/<:8A:(&45&):;NA;A
C5&#FQ:W:(&)8AK?@&Y@?P@885&CGNA9@&N@&8:F&TJ@8>:F

!"#$<)*-+5=''/>)"$?+)*.@*+$A/2*>-/'+$B$2+'/(&"
+=?P:8P@;<@&E:K8:P=F&N@&8:&#N:N&$@NA:&9=P=&J;&8:?>=&Q@?A=N=&cF5&Y7[YB&NARANAN=&
@;&N=F&:&FJ&R@hH&%8<:&I&`:S:&#N:N&$@NA:5
):&Q@?A=NAh:9AG;&@;&8:&^J@&;=F&@;9=;<?:P=F&9=;&?@FQ@9<=&:8&9=;<@;AN=&N@8&<@P:&E:9@&
^J@ & ;=F & 9@;<?@P=F & KmFA9:P@;<@ & @; & 8: &`:S: & #N:N & $@NA:H & ^J@ & =9JQ: & :Q?=DAP:N:P@;<@&
N@FN@&@8&:W=&'OOO&E:F<:&P@NA:N=F&N@8&F5&[Y5
#F<: & bQ=9: & F@ & R@ & P:?9:N: & @; & FJ & 9=PA@;h= & Q=? & @8 &L@JN:8AFP=H & FAF<@P: & N@&
=?>:;Ah:9AG; & Q=8M<A9:H & @9=;GPA9: & I & F=9A:8 & ^J@ & APQ@?G & @; & #J?=Q:5 & #; & b8H & J; & >?JQ= & N@&
Q@?F=;:F &c8=F& ;=K8@FB& N=PA;:; &8: & P:I=?M: & N@&8: &Q=K8:9AG;&c>@;@?:8P@;<@ &9:PQ@FA;=FB5&
%Q:?<@ & N@& @F<=F &N=F& @F<:P@;<=F & <:PKAb; &@F<m & @8 &98@?= &^J@ & <:PKAb;& @F<:K: & ?M>AN:P@;<@&
S@?:?^JAh:N=5&
$JI&APQ=?<:;<@&F@?m&N@F<:9:?&@8&>?:;&L@?R=?&?@8A>A=F=&N@&8:&bQ=9:5&,A=F&@F&@8&9@;<?=&
N@&<=N=&c<@=9@;<?AFP=B5&,@&:EM&^J@&8:&P:I=?&Q:?<@&N@&8:&PUFA9:&^J@&F@&E:9@&F@:&?@8A>A=F:5
%&Q:?<A?&N@8&F5&[/&Q=9=&:&Q=9=&9=PA@;h:&J;:&;=<:K8@&@DQ:;FAG;&N@&8:&:>?A9J8<J?:5&):&
@DQ:;FAG;&N@8&9=P@?9A=&I&@8&:JP@;<=&N@&8:&Q=K8:9AG;&<?:@;&9=;FA>=&9A@?<=&?@;:9APA@;<=&@;&
8:F & 9AJN:N@F& I & 8: & L=?P:9AG; & N@ & J; & ;J@R= & >?JQ= & F=9A:8H & 8: &KJ?>J@FM:H & E:KA<:;<@F & N@ & 8=F&
KJ?>=F&^J@&N@FQJbF&N@&9=;F@>JA?&8AK@?:?F@&N@&8=F&F@W=?@FH&F@&N@NA9:K:;&:8&9=P@?9A=&I&8:&
:?<@F:;M:5&+:9@;&:FM&8=F&NAF<A;<=F&>?@PA=FH&L=?P:N=F&Q=?&8=F&:?<@F:;=F&N@&J;&PAFP=&=LA9A=5
":PKAb;&@F&@;&@8&F5&[/&9J:;N=&F@&Q?=NJ9@&9A@?<:&@DQ:;FAG;&N@&8:&9J8<J?:5&%Q:?@9@;&
8:F &@F9J@8:F & 9:<@N?:8A9A:F& I & : & Q:?<A? & N@ & @88:F & 8:F &f;AR@?FAN:N@FH & ^J@ & <JRA@?=; & PJ9E:&
APQ=?<:;9A:&@;&8:&@DQ:;FAG;&N@&8:&9J8<J?:5&`=8=;A:H&3:?MFH&*DL=?N&=&1:8:P:;9:&F=;&:8>J;:F&
N@&8:F&Q?AP@?:F&J;AR@?FAN:N@F&^J@&@DAF<A@?=;5

'Z

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

7"#$C+&/4+)D($;-/1/*/:(

):&Q?AP@?:&N@F9?AQ9AG;&98:?:&N@&PUFA9:&:&P:F&N@&J;:&R=h&:Q:?@9@;&@8&>T*$Y&@;&8=F&
8AK?=F &8=2/'( $ %)'A/-/(5/2& I &E'A+&( $ %)'A/-/(5/2H & :PK=F & :;G;AP=F5 & #; & @88=F & F@&
88:P:?m & =?>:;JP & : & 8: & NJQ8A9:9AG; & N@ & J; & 9:;<= & 88:;= & c88:P:N= &<3= & 5!*(+*5%$*1B & @;&
P=RAPA@;<=&Q:?:8@8=&:&J;&A;<@?R:8=&N@&XtH&Zt&J&at&Q=?&=<?:&R=h&c<3=&3!#%(%$*1B5&pF<@&F@?m&@8&
7@J58EK*>=KLC:H&@DAF<A@;N=&=<?:F&R:?A:;<@F&N@&@F<:&L=?P:&9=P=&@8&=?>:;JP&9=PQJ@F<=H&
=?>:;JP&Q:?:8@8=&I&=?>:;JP&Q:?:8@8=&P=NALA9:N=&^J@&F@&N@F:??=88:?m;&@;<?@&@8&F5&/[&d&F5&[/&
I&^J@&R:;&P=F<?:;N=&9A@?<:&@R=8J9AG;&N@&8:&Q=8AL=;M:&N@8&P=P@;<=5

F"# $ %& $ G-2 $ G)*/H=(" $ 0(2 $ .2'=.&(2 $ 5. $ E() $ 8(-'/(& $ 5. $ 0/1+,.2 $ B $

I+*-.$J(1.$5.$C(-D2
1@ & 9=;=9@ & 9=P= & %?F & %;<A^J: & :8 & Q@?A=N= & ^J@ & R: & N@FN@ & ''_O & E:F<: & 'V'O&
:Q?=DAP:N:P@;<@5&0?:;N@F&:R:;9@F&@;&;=<:9AG;5&):F&LJ@;<@F&^J@&<@;@P=F&N@&8:&bQ=9:&F=;&
@8&CGNA9@&N@&"J?M;H&CGNA9@&N@&$=;<Q@88A@?H&CGNA9@&N@&`:PK@?>&I&@8&CGNA9@&N@&):F&TJ@8>:F5

VT+*"795A=?8

4?:;9=&N@&C=8=;A:&9=;F<?JIG&J;&FAF<@P:&@;&@8&^J@&@8&R:8=?&N@&9:N:&;=<:&F@&@DQ?@F:K:&
9=;&J;&FA>;=&9=;9?@<=5&%FM&8=&@DQ8A9:&@;&FJ&<?:<:N=&N@&'!]O&G-2$?()*=2$8.)2=-(K/&/25&
3@?=&Q=?&U<A8&^J@&LJ@&@8&;J@R=&FAF<@P:&N@&;=<:9AG;H&9=;=9AN=&9=P=&;=<:9AG;&P@;FJ?:8H&;=&
>:;G&:9@Q<:9AG;&A;P@NA:<:&I&@;9=;<?:P=F&QA@h:F&N@&LA;:8@F&N@8&F5&[///&N=;N@&:U;&F@&JF:&
;=<:9AG;&Q?@L?:;9=;A:;:&P=N:85

VTU*&C*K79:9:

%&Q:?<A?&N@&'!ZO&8=F&=?>:;:&I&8=F&9=;NJ9<A&N@F:Q:?@9@;&>?:NJ:8P@;<@&I&NJ?:;<@&8:&!t&
PA<:N&N@8&F5&[///&@8&<AQ=&PmF&APQ=?<:;<@&N@&9=PQ=FA9AG;&@F&@8&P=<@<@5&pF<@&F@?m&N=K8@&=&
<?AQ8@&N@Q@;NA@;N=&N@&8:F&R=9@F&^J@&9=;<@;>:&:Q:?<@&N@8&<@;=?5
,@&9:?m9<@?&?@8A>A=F=&@;&J;&Q?A;9AQA=H&@8&P=<@<@&F@&R:&E:9A@;N=&Q?=L:;=&N@&L=?P:&
Q?=>?@FAR:&cA;98JF=&N@&<@P:&:P=?=F=B&I&F@&@PQA@h:&:&@F9?AKA?&9=;&<@D<=&@;&L?:;9bF5&$JI&
9=PU;&@F&@8&(79:9:*L7C=9:;9E5C&N=;N@&9:N:&R=h&<A@;@&J;&<@D<=&NAL@?@;<@5&

VTV*%7KL7>=97@:>

2:&E@P=F&;=PK?:N=&:&4?:;9=&N@&C=8=;A:&^J@&:N@PmF&N@&<@G?A9=&LJ@&J;&APQ=?<:;<@&
9=PQ=FA<=? & N@ & P=<@<@F5 & ":PKAb; & 8= & LJ@?=;& k=E:;@F & N@ & 0?=9E@=H &3@<?JF & N@ & C?J9@& =&
k=E:;;@F&N@&0:?8:;NA:5
,@K@P=F & 9A<:? & :8 & <?=R@?= &)I5K * I: * C5 * Z5CC:H & PJI & 9=;=9AN= & Q=? & FJF & 9:;9A=;@F&
Q?=L:;:F&:&<?@F&R=9@F5&%J;^J@&@;&P@;=?&P@NAN:H&8:&PUFA9:&Q?=L:;:&Q=9=&:&Q=9=&F@&AK:&
N@F:??=88:;N=5
3=?&U8<AP=H&N@F<:9: &R5A7F7*I:*-=:N5H&:?NJ=&N@L@;F=?&N@8&@F<A8=&N@8&%?F&%;<A^J:&
L?@;<@&:&8:F&;=R@N:N@F&Q=F<@?A=?@F&N@8&%?F&+=R:5

VTW*&>AE:C5*I:*158*(5@A=5C*I:*-=K7J:>
#8 & N@F:??=88= & N@ & 8: & Q=8AL=;M: & @; & @8 & F5 & [// & ;=F & 88@R: & : & )AP=>@FH & ?@>AG; & 9@;<?=7
P@?ANA=;:8 & N@ & 4?:;9A:5 & ,@ & 8: & :K:NM: & N@ & 1:; & $:?9A:8 & @DAF<@ & J;: & >?:; & 9=8@99AG; & N@&
P:;JF9?A<=F&PJFA9:8@F5
):&P:I=?&;=R@N:N&N@&8:F&LJ@;<@F&N@&1:;&$:?9A:8&@F&8:&:Q:?A9AG;&N@&=<?=&<AQ=&N@&
=?>:;JP&88:P:N=&7@J58EK*GC7@=I7*7*K:C=>K[9=A75&):&R=h&Q?A;9AQ:8&@F<m&@;&@8&>?:R@&I&
']

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

F@&PJ@R@&9=;&R:8=?@F&8:?>=F5&):&R=h&=?>:;:8AF&@F&P:F&:>JN:&I&N:&R:?A:F&=&PJ9E:&;=<:F&
9=;<?:&9:N:&J;:&N@8&>?:R@5&):&R=h&Q?A;9AQ:8&F@&88:PG&9:87@&cN@8&8:<M;&,"("!"(&F=F<@;@?B5
*<?=&<AQ=&N@&9=PQ=FA9AG;&N@&@F<:&@F9J@8:&@F&@8&I=>A589E>H&@F<A8=&;=<?:&9=;<?:&;=<:&
^J@&:^JM&F@&@R=8J9A=;:&:&;@JP:&9=;<?:&;@JP:5&#DAF<A?m;&Q?=K8@P:F&:&8:&E=?:&N@&<?:;F9?AKA?&
8:F&QA@h:F&I:&^J@&;=&F@&A;NA9:&8:&NJ?:9AG;&N@&8:F&;=<:F&I&;=&^J@N:&98:?=&9=P=&F@&9==?NA;:; &
8:F&R=9@F5

VTX*&>AE:C5*I:*"79@:*#5K:*I:*35@H>*

#;<?@& '!]O&I&'VVO&3:?MF&F@&9=;RA@?<@ &@;&8:&R:;>J:?NA:&PJFA9:8&9=;&9@;<?=&@; & 8:&

9:<@N?:8&N@&+=<?@&,:P@5&):&PUFA9:&^J@&:88M&F@&9=PQ=;@&F@?m&9=;=9AN:&I&NALJ;NAN:&Q=?&<=N:&
#J?=Q:5
G"$8+5+2$-D*1/'+2

):&P:I=?&;=R@N:N&N@&@F<:&@F9J@8:&@F&^J@&E:F<:&@8&P=P@;<=&;=&F@&F:KM:&^J@&?A<P=&
<@;M:&8:&PUFA9:&Q@?=&8:&Q=8AL=;M:&F@&AK:&R=8RA@;N=&P:F&9=PQ8@S:&I&8=F&9=PQ=FA<=?@F&<@;M:;&
^J@&A;NA9:?&9GP=&@;9:S:K:;&8:F&R=9@F5&%&Q:?<A?&N@&@F<:&bQ=9:&F@&J<8Ah:?m&J;&FAF<@P:&Q:?:&
?@Q?@F@;<:?&8:&NJ?:9AG;&N@&8=F&F=;AN=F&FA>JA@;N=&8=F&QA@F&Pb<?A9=F&N@&8:&Q=@FM:&98mFA9:&I&^J@&
F@&K:F:&@;&R:8=?@F&8:?>=F&I&K?@R@F5&%&@F<=&F@&E:&9=;=9AN=&9=P=&8795A=?8*K7I5CT*&T:I&]&
P=N=F(
(7I7*$,&'@7\E:7,&&-*]*^*c):?>:&d&`?@R@B (7I7*$P,&)85L:>97,&^_*^_*(7I7*$$,&25KF7,&&^*]*-&&c`?@R@&d&):?>:B (7I7*P,&&>L78I:7,*-*]*(7I7*$$$,&#[A9=C7,*&-*]*^*]*^
(7I7*P$,&'@HF@5A7,*^*]*^*]*^
L"$3-,()=1

#8&<AQ=&N@&=?>:;JP&^J@&F@&9=PQ=;@&@;&+=<?@&,:P@&@F&@8&P@8AFPm<A9=&=&L8=?AN=&I:&
N@F9?A<= & @; & 1:; & $:?9A:85 & ): & R=h & Q?A;9AQ:8 & @F & J; & <@;=? & @; & R:8=?@F & 8:?>=F & I & 8:{8:F & R=9@F&
FJQ@?A=?@F&@F<m;&=?N@;:N:F&F@>U;&8=F&P=N=F&?M<PA9=F5&3@?=&@DAF<@&J;:&;=R@N:N&PmF&I&F=;&
8:F&98mJFJ8:F&N@&NAF9:;<=5
?"$J/2'()*=2

#;&F@99A=;@F&N@&:8>J;=F&=?>:;:H&@8&<@;=?&F@&RJ@8R@&P@8AFPm<A9=&I&F@&=?>:;Ah:&F@>U;&
J; & P=N= & ?M<PA9=5 & #F<:F & F=; & 8:F & 88:P:N:F &%C[E>EC5> * I: * #=>A5897T& % & R@9@F & =9JQ:;&
F=8:P@;<@&J;:&Q:8:K?:5&C=;&@8&<A@PQ=&F@&E:9@;&A;<@?9:PKA:K8@F&I&N@FQJbF&F@&A;N@Q@;NAh:;&
N:;N=&8J>:?&:&=<?:&L=?P:&PJFA9:85
J"$?+)5='*=2

3A@h:&N@&9=;<@;AN=&F:9?=&Q@?=&;=&8A<U?>A9=&N@F<A;:N=&:&:9=PQ:W:?&N@FQ8:h:PA@;<=F&
N@8&98@?=H&Q=?&8=&P@;=F&@;&FJ&=?A>@;5&#8&@F<A8=&F@?m&NAF<A;<=&:8&=?>:;JPH&F=K?@&<=N=&Q=?^J@&
8: & R=h & Q?A;9AQ:8 & @F & N@ & 9?@:9AG; & ;J@R:H & ;= & F@ & F:9: & N@ & ;A;>J;: & P@8=NM: & >?@>=?A:;:5&
+=?P:8P@;<@ & : & ! & = & V & R=9@F & I & N@ & @F<A8= & FA8mKA9= & :J;^J@ & QJ@N@ & 88@R:? & F@99A=;@F & P:F&
P@8AFPm<A9:F5
%"$8+*.*.

+:9@&F=K?@&'!!Z&:&Q:?<A?&N@&8:F&98mJFJ8:F&N@&NAF9:;<=&N@&8=F&=?>:;:5&CJ:;N=&bF<:F&F@&
'_

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

A;N@Q@;NAh:; & F@ & 8@F & Q=;@ & J; & <@D<= & ;J@R=H & Q?AP@?= & 8= & LJ@ & @; & 8:<M; & I & 9=;<A;JG & FA@;N=&
?@8A>A=F=&I&N@FQJbF&<:PKAb;&Q?=L:;=F&L?:;9@F@F5
M"$?+1;+2/*+-.2

1=; & 9J:<?= & 8:F & LJ@;<@F & ^J@ & <@;@P=F & N@ & 8: & #F9J@8: & N@ & +=<?@ & ,:P@ & 9J:<?=&
P:;JF9?A<=F&88:P:N=F&g=8L@8K~<@8&/H&g=8L@8K~<@8&//H&$:;JF9?A<=&N@&48=?@;9A:&I&$:;JF9?A<=&
N@&$:N?AN&I&^J@&9=;<A@;@;&@8&?@Q@?<=?A=&N@&8:&@F9J@8:H&8=&^J@&F@&9=;=9@&9=P= &(5J8E>*
-=F:@*.@J58=5&
#; & @F<:F & LJ@;<@F & F@ & E:K8: & N@ &-:78=8H & PUFA9= & ^J@ & LJ@ & P:@F<?= & N@ & 9:QA88: & N@ & 8:&
9:<@N?:8&N@&'']V&:&''a!H&9=P=&@8&P@S=?&9=PQ=FA<=?&N@&8:&L=?P:&=?>:;JP5&3:?@9@&^J@&b8&
9=PQJF=&@8&9=?QJF&9@;<?:8&N@8&$:>;JF&)AK@?&*?>:;A5
":PKAb; & <@;@P=F & 9=;F<:;9A: & N@ &3:@79=8H & @8 & P@S=? & 9=PQ=FA<=? & N@ & NAF9:;<= & ^J@&
9=PQ8@<G&8:&R@?FAG;&N@8&$:>;JF&)AK@?&*?>:;A&:W:NA@;N=&8:F&98:JFJ8:F&N@&NAF9:;<=&I&=<?:F&
R=9@F&:&8=F&=?>:;:&^J@&:88M&:Q:?@9@;5

N"$G-2$I+:(
):&bQ=9:&N@8&%?F&+=R:&9=PQ?@;N@&:Q?=DAP:N:P@;<@&@;<?@&'V!O&I&@8&?@F<=&N@8&F5&
[/Y5&#F&J;&P=RAPA@;<=&KmFA9:P@;<@&L?:;9bF&:J;^J@&9=;&A;L8J@;9A:&@;&<=N:&#J?=Q:5

WT+*%789:;97*<=>9?@=A7*D*>7A=5C*
!
!
!
!
!

#;&@8&F5&[/Y&9=PA@;h:&J;:&bQ=9:&N@&9?AFAF&Q?=R=9:N:&Q=?&NAF<A;<:F&9:JF:F(
3@?A=N=&N@&P:8:F&9=F@9E:F&^J@&9=;88@R:?m&@8&E:PK?@&I&Q=K?@h:5
f;: & F@?A@ & N@ & @QAN@PA:F & :L@9<:; & : & 8: & Q=K8:9AG; & I: & N@KA8A<:N: & Q=? & 8: & P:8:&
:8AP@;<:9AG;5&):&PmF&APQ=?<:;<@&LJ@&8:&Q@F<@&;@>?:5&&&&&
pQ=9:&N@&>J@??:F&^J@&@;L?@;<:?=;&:&NAR@?F=F&Q:MF@F&N@&#J?=Q:&9=P=&8:&0J@??:&N@&
8=F&CA@;&:W=F5
1@&FA>J@&RARA@;N=&J;&F@;<APA@;<=&Q?=LJ;N:P@;<@&?@8A>A=F=5&#F<@&F@;<APA@;<=&>@;@?:&
C5> * %@E`5I5>H & @DQ@NA9A=;@F & PA8A<:?@F & N@ & 9?AF<A:;=F & ^J@ & ^JA@?@; & ?@9JQ@?:? & 8=F&
1:;<=F&8J>:?@FH&@;&P:;=F&N@&8=F&<J?9=F&PJFJ8P:;@F5
$JI&APQ=?<:;<@F&F@?m;&8=F&:R:;9@F&9A@;<MLA9=F&^J@&F@&N:;&:&LA;:8&N@&8:&#N:N&$@NA:&
@;&@8&9:PQ=&N@&8:&:F<?=;=PM:H&8:F&P:<@Pm<A9:F&=&8:&;:R@>:9AG;H&:J;^J@&@8&A;R@;<=&
PmF&L:P=F=H&8:&APQ?@;<:H&88@>:&N@FQJbF5

WTU*%5@5A9:@H>9=A5>*KE>=A5C:>
):&N@;=PA;:9AG;&N@&8:&bQ=9:&>!1&?3<%&F@&N@K@&:8&<?:<:N=&N@&3EA8AQQ@&N@&YA<?I&N@8&
PAFP=&;=PK?@&N@&'V!!5&&#F<:F&F=;&8:F&Q?A;9AQ:8@F&9:?:9<@?MF<A9:F&PJFA9:8@F(
!

1@&@F<:K8@9@&J;&FAF<@P:&N@&;=<:9AG;&^J@&:Q8A9:&@8&Q?A;9AQA=&N@&8:&;=<:9AG;&P@;FJ?:8&
N@ & 4?:;9= & N@ & C=8=;A: & : & R:8=?@F & PmF & K?@R@F5 & )=F & 9=PQ=FA<=?@F & 9J@;<:; & 9=; & J;&
FAF<@P:&N@&=?>:;Ah:9AG;&?M<PA9:&^J@&8@F&N:K:&>?:;&8AK@?<:N5&#F<=&N:&8J>:?&:&NAF<A;<=F&
@L@9<=F & PJFA9:8@F & 9=P= & @8 & N@8 &<7\E:9E> *cJ;:F & R=9@F & 9:;<:; & I & =<?:F & 9:88:;&
A;<@?9:PKA:;N=&FJ&Q:Q@8&?mQAN:P@;<@B
):&PUFA9:&@;&>@;@?:8&F@&9=PQ8A9:(&:Q:?@9@;&8:F&FM;9=Q:FH&8=F&?A<P=F&N@F:SJF<:N=F&I&
8:&Q=8A??A<PA:5&#8&>?:N=&N@&9=PQ8A9:9AG;&LJ@&@;&:JP@;<=&E:F<:&^J@&N@F@PK=9G&@;&J;&
@F<A8= & N@ & PUFA9: & PJI & ?@LA;:N= & I & F=8= & :Q<: & Q:?: & @;<@;NAN=FH & 9=;=9AN: & 9=P= &>!1&
4.',*$*3!5
1@ & 9=PA@;h: & : & N@F:??=88:? & @8 & 9=;<?:QJ;<= & ^J@ & 9=;<A;U: & N@FQJbF & 9=; & 8=F&
'a

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!
!
!

9=PQ=FA<=?@F&L?:;9=7L8:P@;9=F5
%Q:?A9AG;&N@&8=F&9=PQ:F@F&KA;:?A=F&=&P@NAN:F&APQ@?L@9<:F5
C:N: & R@h & F@ & 9=PQ=;@ & P:F & 9:;<AN:N & N@ & PUFA9: & Q?=L:;:5 & ): & 9:;9AG; & Q=8ALG;A9:&
Q?=L:;:&LJ@&PJI&9J8<AR:N:5
#8&P=<@<@&F@>JA?m&FA@;N=&8:&L=?P:&PJFA9:8&PmF&APQ=?<:;<@5&,@F:Q:?@9@;&<=<:8P@;<@&
=?>:;:&I&9=;NJ9<A5

WTV*47@K5>*KE>=A5C:>
G"$8+*.*.

):&;=R@N:N&N@&@F<@&Q@?A=N=&@F&8:&:Q:?A9AG;&N@8&K79:9:*=>7@@H9K=A7H&N=;N@&E:I&J;&
Q:<?G;&?M<PA9=&c<:8@:B&I&P@8GNA9=&c9=8=?B&@;&8:&R=h&N@8&<@;=?&9=;&R:?A:F&@DQ=FA9A=;@F5&):F&
<:8@:F&I&9=8=?@F&Q=NM:;&9=A;9ANA?&=&;=5&%Q:?<@&N@8&<@;=?&:&R@9@F&:Q:?@9@;&<:PKAb;&@;&=<?:F&
R=9@F5&):&AF=??A<PA:&LJ@&@8&Q?A;9AQ:8&?@9J?F=&J;ALA9:N=?&@;&8=F&P=<@<@F&N@&YA<?I&:J;^J@&b8&;=&
LJ@&@8&A;R@;<=?5
L"$M+-1(2$'+)$.2*-/K/&&+

!
!
!

2:&JF:N:F&@;&8:&PUFA9:&<?=R:N=?@F9:&F@?m;(
^5CC5I:,*+=?P:8P@;<@&9=;F<:;&N@&A;<?=NJ99AG;&I&<?@F&@F<?=L:F&9=;&@F<?AKA88=5
/78I:5E, *1=8=&9=;F<:&N@&N=F&L?:F@F&PJFA9:8@F5&1J&9:?:9<@?MF<A9:&@F&^J@&Q:?<@&N@8&
@F<?AKA88=&F@&?@QA<@&M;<@>?:P@;<@&@;&8:&@F<?=L:5
P=@:C5=, *":PKAb; & 9=;F<: & F=8= & N@ & N=F & L?:F@F & PJFA9:8@F5 & 3:?<@ & N@ & 8: & P@8=NM: & N@8&
@F<?AKA88=&F@&?@QA<@&@;&8:&@F<?=L:5

?"$OP')/'(2$5.$'+1;+2/'/>)@&

!
!

"MQA9:P@;<@&A;>8@F:F
45E;F7E@I78, *9=PQ=FA9AG;&:&N=F&R=9@F&^J@&R:&Q=?&F@D<:F&Q:?:8@8:F&9=;&=9<:R:F&
A;<@?9:8:N:F5&1@&:W:N@&J;:&R=h&APQ?=RAF:N:&^J@&R:&E:9A@;N=&<@?9@?:FH&J;:&Xx&Q=?&
N@K:S=&N@&8:&R=h&:>JN:5
0DK:C, *":PKAb; & 88:P:N= & ,AF9:;<= & A;>8bFH & 8:F & R=9@F & F@ & PJ@R@; & Q=? & <@?9@?:FH&
9=P@;h:;N=&I&9=;98JI@;N=&:8&J;MF=;=5

#F<:F&N=F&<b9;A9:F&PJ@F<?:;&8:&Q?@L@?@;9A:&@;&/;>8:<@??:&Q=?&8:F&F=;=?AN:N@F&PmF&
FJ:R@F&N@&]t&I&Vt5

WTW*%7KL7>=97@:>
G"$M-()'/(Q$R=/&&(=1.$5.$8('A(=*$S!FTT$U$!FVVW

4A>J?:&LJ;N:P@;<:8&N@8&%?F&+=R:5&#8&@F<JNA=&N@&FJ&=K?:&8=&@F&N@&8:&PUFA9:&L?:;9@F:&
N@8&F5&[/Y5&%&Q@F:?&N@&F@?&F:9@?N=<@&<A@;@&PJ9E:&PUFA9:&Q?=L:;:5&1J&=K?:&F@&9=;F@?R:&@;&_ &
P:;JF9?A<=F&N=;N@&N@F<:9:;&FJF&UV*K79:9:>*=>7@@H9K=A7>B*C5*(=>5*I:*"79@:*#5K:H&
N=;N@ & 8:F & Z & Q:?<@F & N@8 & =?NA;:?A= & F@ & 9=PQ=;@; & Q=8ALG;A9:P@;<@ & cQ=? & Q?AP@?: & R@h & J;:&
Q@?F=;:&9=PQ=;@&NAF<A;<:F&QA@h:F&9=;&@F<?J9<J?:&N@&J;AN:NB&I&FJF &F5C5I5>B*@78I?>*D*
M=@:C5=>H&FJF&=K?:F&P:F&Q?=>?@FAF<:F5
,@;<?=&N@&8:&PUFA9:&L?:;9@F:&N@F<:9:;&=<?:F&LJ@;<@F&9=P=&&C*/7K58*I:*45EM:CH&
'6

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

Q=@P: & N@ & Fm<A?: & P@NA@R:8 & F=K?@ & 8: & 9=??JQ9AG; & F=9A:8 & ^J@ & 9=;<A@;@ & <:PKAb; & QA@h:F&
P=;=LG;A9:F & I& VV &P=<@<@F &cZ & N@ &YA<?IB5 & ":PKAb; &@F<m;& @8 &%?I=A: * $M@:5& cKmFA9:P@;<@&
?@8A>A=F=B & I & @8 &%?I=A: * )L9& c9=PQ8@<:P@;<@ & ?@8A>A=F=B & ^J@ & 9=;<A@;@; & ?@Q@?<=?A= & N@ & 8:&
9:QA88:&Q:Q:8&N@&%RAWG;&@;<?@&'VO6&I&'V_]5
L"$<*(&/(

):&PUFA9:&A<:8A:;:&N@8&F5&[/Y&NALA@?@&N@&8:&L?:;9@F:&Q?A;9AQ:8P@;<@&Q=?&NAL@?@;9A:F&
F=9A:8@F&I&Q=8M<A9:F5&":PQ=9=&E:KM:&J;:&<?:NA9AG;&Q=8ALG;A9:&@;&/<:8A:&9=P=&@8&=?>:;JP&=&@8&
P=<@<@&L?:;9bF5&%8&;=&E:K@?&LJ@;<@F&N@8&F5&[///&@8&:;<@9@N@;<@&P:F&8G>A9=&Q:?@9@&8:&Q=@FM:&
<?=R:N=?@F9:5
1A;&NJN:&4@58A:>A7*-58I=8=&LJ@&@8&PUFA9=&A<:8A:;=&P:F&N@F<:9:N=&N@8&F5&[/Y&I&@8&
Q?A;9AQ:8 & 9=PQ=FA<=? & N@ &'%$$%,"H & L=?P: & 9=; & @F<?J9<J?: & FAPA8:? & :8 & RA?@8:A & L?:;9bF5 & CA@>=&
N@FN@ & ;AW=H & 88@>G & : & F@? & >?:; & P:@F<?= &N@ & 8: & <@=?M: & I & Q?m9<A9: & N@ & 8: & PUFA9: & Q?=L:;:5 & +=&
@F9?AKAG&>b;@?=&?@8A>A=F=5&,@F<:9:;&FJF&P@8=NM:F&>?:9A=F:F&I&FJF&FJ:R@F&:?P=;M:F5
,=F&LJ@;<@F&APQ=?<:;<@F&F@?m;&@8&%7I:;*/7>>=&I&@8&%7I:;*1\E5@A=5CEL=5&%PK=F&
9=;<A@;@;&PUFA9:&Q?=L:;:&I&L=?P:F&N@8&<AQ=&P:N?A>:8H&9:99A:&I&K:88:<:5
*<?=F&9=PQ=FA<=?@F&A<:8A:;=F&N@&8:&bQ=9:&F=;&k:9=Q=&N:&`=8=>;:H&+A9=8=&N:&3@?J>A:H&
k=E:;;@F&N@&CA9=;A:&=&3:=8=&"@;=?AF<:5

?"$%2;(X(

#FQ:W:&F@&E:88:&K:S=&8:&A;L8J@;9A:&L?:;9@F:H&Q=?&8=&^J@&8:&PUFA9:&^J@&F@&E:9@&:^JMH&
F=K?@&<=N=&@;&8:&h=;:&9:<:8:;:H&F@&Q:?@9@&PJ9E=&:8&@F<A8=&L?:;9bF5&C=;<:?@P=F&9=;&N=F&
LJ@;<@F&KmFA9:F(
!

%?I=A:*I:*C5>*ZE:CJ5>, *.@Q@?<=?A=&N@&QA@h:F&Q:?:&JF=&N@8&$=;:F<@?A=&N@&1:;<:&
$:?M:&N@&8:F&TJ@8>:F&@;&`J?>=F&8=F&NM:F&PmF&F=8@P;@F5&#F<m&N@NA9:N=&:&8:&YA?>@;5&
2:&8=&E@P=F&;=PK?:N=&@;&@8&QJ;<=&:;<@?A=?&I:&^J@&:J;^J@&LJ@&@F9?A<=&@;&'V!Z&Q=?&
J;&<:8&k=E:;;@F&.=N@?A9AH&FJ&?@Q@?<=?A=&@F&KmFA9:P@;<@&F=K?@&%?F&%;<A^J:H&9=;&J;&
@F<A8=&F@;9A88=&I&Q=9:F&NAF=;:;9A:F5&#;&@F<A8=&%?F&+=R:&F=8=&E:I&J;&Q:?&N@&QA@h:F5&
.@FJ8<: & 9J?A=F= & @;9=;<?:? & @; & b8 & 8: & Q?AP@?: & 8@99AG; & N@ & F=8L@= & : & N=F & R=9@F & N@ & 8:&
EAF<=?A:5
-C=F@: * P:@K:CC,& )8:P:N= & :FM & c8AK?= & ?=S=B & Q=? & @8 & 88:P:<AR= & 9=8=? & N@ & FJ&
@;9J:N@?;:9AG;H&LJ@&9=QA:N= &: &LA; &F5 &[/Y&I&F@&@;9J@;<?: &@;&@8 &$=;:F<@?A= &N@& 8:&
YA?>@;&N@&$=;<F@??:<5&"@;M:&8:&LA;:8AN:N&N@&@;<?@<@;@?&I&N:?&J;:&F@?A@&N@&;=?P:F&:&
8=F&Q@?@>?A;=F&^J@&:88M&88@>:K:;&I&:&P=N=&N@&:Qb;NA9@&A;98JI@&NA@h&QA@h:F&N@NA9:N:F&
:&8:&RA?>@;5&)=&P:F&;=R@N=F=&@F&J;&>?JQ=&N@&N:;h:F&9:;<:N:F5

!O

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

'&()*V,*-)*(a1$%)*P.%)-*&"*&-*/&")%$($&"'.
'57/;<?=NJ99AG;5&C:?:9<@?MF<A9:F&N@&8:&PUFA9:&?@;:9@;<AF<:5
!57$UFA9:&?@8A>A=F:&@;&@8&FA>8=&[Y(
!5'57#F9J@8:&L?:;9=7L8:P@;9:
!5!57#F9J@8:&K=?>=W=;:
V57$UFA9:&?@8A>A=F:&@;&@8&FA>8=&[Y/
V5'574=?P:F&?@8A>A=F:F
V5!57#F9J@8:&?=P:;:(&3:8@F<?A;:
V5V57#F9J@8:&L8:P@;9:
V5X57#F9J@8:&R@;@9A:;:(&8=F&0:K?A@8A&I&gA88:@?<
V5Z57#F9J@8:&@FQ:W=8:
X57$UFA9:&Q?=L:;:&@;&@8&.@;:9APA@;<=
X5'57C:?:9<@?MF<A9:F
X5!57/<:8A:(&@8&P:N?A>:8H&8:&L?=<<=8:H555
X5V57#8&P:N?A>:8&@;&/;>8:<@??:
X5X57):&9:;9AG;&L?:;9@F:
X5Z57#FQ:W:(&@8&RA88:;9A9=H&@8&?=P:;9@H555

!" $ <IOY3JZ??<[I" $ ?GYG?O%Y\EO<?GE $ J% $ 0G $ 8]E<?G $

Y%IG?%IO<EOG"
#;&@8&.@;:9APA@;<=&E:I&J;&:Q:FA=;:N=&A;<@?bF&Q=?&8:&EJP:;Ah:9AG;&N@&8:F&8@<?:F&I&
Q=?&8:&:;<A>~@N:N&98mFA9:5&$A>J@8&s;>@8H&)@=;:?N=&N:&YA;9AH&.:L:@8&I&C=??@>>A=&<A@;@;&:&8=F&
98mFA9=F&9=P=&P=N@8=&N@&Q@?L@99AG;5&3@?=&8:&PUFA9:&9:?@9@&N@&P=N@8=F&98mFA9=F&^J@&APA<:?5&
,J?:;<@&@F<:&@<:Q:&F@&N@F:??=88:&@8&TJP:;AFP=H&P=RAPA@;<=&9:?:9<@?Ah:N=&Q=?&J;:&
:9<A<JN&Q=FA<AR:&E:9A:&@8&E=PK?@H&FJF&R:8=?@F&c8:&?:9A=;:8AN:N&I&8:&8AK@?<:NB&I&FJ&9:Q:9AN:N&
9?@:N=?:5&3:?:&bF<@H&8:&PUFA9:&F@&N@K@&9=;=9@?&Q=?&FJ&APQ=?<:;9A:&@;&8:&:;<A>~@N:N&I&Q=?&
Q@?<@;@9@?&:8&PJ;N=&N@&8:&?:hG;&I&:8&N@&8=F&F@;<AN=F5&):&PUFA9:&@F&@FQ@9A:8P@;<@&R:8=?:N:&
Q=?&8:&98:F@&9ARA8&I&Q=8M<A9:z&F@&?@F<:J?:&@8&Q@;F:PA@;<=&Q8:<G;A9=&N@&^J@&Q@?L@99A=;:&:&8:&
Q@?F=;:z&:N@PmFH&@D:8<:&:8&E=PK?@&I&9:;<:&FJF&Q?=K8@P:F5&#8&PUFA9=&9=PA@;h:&:FM&:&F@?&
R:8=?:N=&I&:&RARA?&P@S=?5
):F&AE5C=I5I:>*I:*C5*KQ>=A5*@:85A:89=>95&F@&QJ@N@;&?@FJPA?&@;(
! &$UFA9:& Q=8ALG;A9:H&;=?P:8P@;<@&9=;<?:QJ;<MF<A9:H&9=;&8:&PAFP:&APQ=?<:;9A:&@;&
<=N:F&8:F&R=9@F&cE=P=>@;@AN:NB
! += & E:I & J; &8@;>J:S@& NAL@?@;9A:N= & Q:?: & 8: & R=h & I & 8=F & A;F<?JP@;<=F5 & 3=? & @88=H & 8:&
PUFA9:&R=9:8&F@&Q=NM:&<=9:?&I&RA9@R@?F:5
! 1G8=&E:I&NAF=;:;9A:F&@;&8:F&;=<:F&N@&Q:F=
! #8&?A<P=&@F&?@>J8:N=&Q=?&@8&<:9<JFH&Q=?&8:&9:FA&N@98:P:9AG;&N@8&<@D<=&9:;<:N=5
! ): &@F@;9A:& N@ & @F<: & PUFA9: & @F & <?:;FPA<A? & 8: & @DQ?@FAG; & I & @8 & 9=;<@;AN= & N@ & 8:F&
Q:8:K?:FH&A8JF<?:?&PJFA9:8P@;<@&8:F&AN@:F&N@8&<@D<=
! ):F&Q?A;9AQ:8@F&<b9;A9:F&N@&9=PQ=FA9AG;&F=;(&9=;<?:QJ;<=&APA<:<AR=&c9=;FAF<@&@;&
@DQ=;@?&@;&J;:&R=h&J;:&K?@R@&P@8=NM:&^J@&?@Q@<A?m;&FJ9@FAR:P@;<@&@8&?@F<=&N@&
8:F&R=9@F&:8&J;MF=;=&=&:&NAF<:;9A:&N@&Zt&=&XtBH&9:;<JF&LA?PJF&cJ;:&R=h&9:;<:&J;:&
P@8=NM:&>?@>=?A:;:&PA@;<?:F&8:F&=<?:F&<@S@;&8:&<?:P:&Q=8ALG;A9:BH&R:?A:9AG;&cF@&
?@QA<@ & J; & <@P: & R:?A:;N= & @8 & ?A<P=H & 8: & P@8=NM:H & 8: & :?P=;M:H & @<9B & I&
E=P=LG;A9:{E=P=??M<PA9:&c<=N:F&8:F&R=9@F&:R:;h:;&9=;&@8&PAFP=&&?A<P=B5
):&PUFA9:&@F<m&@F<?@9E:P@;<@&RA;9J8:N:&:8&Q=N@?&I&8:&RAN:&9=?<@F:;:5&)=F&PUFA9=F&
N@8&.@;:9APA@;<=&?@9AK@;&8=&@F@;9A:8&N@&FJ&L=?P:9AG;&@;&8:F&@F9J@8:F&N@&PUFA9:&F:9?:H&^J@&
8@F&:F@>J?:;&J;:&FG8AN:&@;F@W:;h:(&8:&R=h&I&FJ&?@Q@?<=?A=H&<b9;A9:&A;F<?JP@;<:8H&I&FA&<A@;@;&
!'

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

<:8@;<=&8:F&K:F@F&N@&8:&9=PQ=FA9AG;5&"?:F&FJ&:Q?@;NAh:S@H&N@;<?=&N@&J;:&9:QA88:H&88@>:;&:&F@?&
9:;<=?&J&=?>:;AF<:H&PUFA9=&N@&A>8@FA:&=&N@&9=?<@5&):F&A>8@FA:F&F=;&APQ=?<:;<@F&P@9@;:F&FA&
Q=F@@; & J;: & @F9J@8: &N@&PUFA9:&F:9?: &I&FA&P:;<A@;@; &:&J;&>?JQ= &N@&A;F<?JP@;<AF<:F5 & %8&
L?@;<@&@F<m&@8&P:@F<?=&N@&9:QA88:&c=?>:;AF<:H&9=PQ=FA<=?&I&NA?@9<=?&N@&9=?=BH&@;9:?>:N=&N@&
9=;F@>JA?&9:;<=?@F&:N@9J:N=FH&N@&FJ&L=?P:9AG;&I&?@Q@?<=?A=5&

7"$8]E<?G$Y%0<R<3EG$%I$%0$E<R03$^_$

,J?:;<@&@F<@&FA>8=H&8:F&9:QA88:F&@98@FAmF<A9:F&I&9=?<@F:;:F&9=PQA<@;&Q=?&<@;@?&:&FJ&
F@?RA9A=& :& 8=F&P@S=?@F&9=PQ=FA<=?@F&@&A;<b?Q?@<@FH&Q:?:&8:&PUFA9:&N@&8=F&F@?RA9A=F&N@& 8:&
A>8@FA:&I&N@8&@;<?@<@;APA@;<=&Q?=L:;=&N@&8:&9=?<@5&):&9:QA88:&PJFA9:8&FJ@8@&:9=PQ:W:?&:&FJ&
F@W=?&@;&FJF&RA:S@F&Q=?&#J?=Q:H&Q=?&8=&^J@&F@&9?@:&J;&@F<A8=&9=FP=Q=8A<:&=&A;<@?;:9A=;:8H&
^J@&Q?=RA@;@&F=K?@&<=N=&N@&PUFA9=F&N@&4?:;9A:H&3:MF@F&`:S=F&I&48:;N@F5&
)=F&@D9@F=F&I&8:&:?<ALA9A=FAN:N&N@8&%?F&+=R:&N@&LA;:8@F&N@8&[/Y&9=;<A;U:;&@;&@8&[YH&
Q?=R=9:;N=&:&LA;:8@F&N@&FA>8=&J;:&?@:99AG;&E:9A:&8:&FAPQ8A9AN:N5&):F&=K?:F&N@8&[Y&F@&K:F:;&
@;&@8&9:;=;&APA<:<AR=&c8:&P@8=NM:&N@&J;:&R=h&F@&APA<:&<=<:8&=&Q:?9A:8P@;<@&Q=?&8:F&=<?:FBz&:&
R@9@F & F@ & 9=PQ8A9: & :8 & APA<:? & 8: & Q?AP@?: & R=h & :JP@;<:;N= & = & NAFPA;JI@;N= & FJF & R:8=?@F&
?M<PA9=Fz & 9=P@;h:;N= & @8 & 9:;=; & :8 & ?@RbF & c8@Ib;N=8= & N@ & :<?mF & E:9A: & N@8:;<@BH & = & Q=?&
P=RAPA@;<=&9=;<?:?A=&N@&A;<@?R:8=F5
%&Q:?<A?&N@&8:&F@>J;N:&PA<:N&N@&FA>8=H&@8&mPKA<=&N@&8:F&R=9@F&F@&E:9@&PmF&@D<@;F=H&I&
9:N:&P@8=NM:&N@&J;:&9=PQ=FA9AG;&Q=8ALG;A9:&@F&A;<@?Q?@<:N:&Q=?&R:?A=F&9:;<:;<@F5&*<?=&
8=>?=&@F&8:&Q?m9<A9:&?@>J8:?&N@&8:&9=PQ=FA9AG;&N@&8:F&Q:?<@F&N@8&=?NA;:?A=&9=P=&J;&<=N=&
J;ALA9:N=&PJFA9:8P@;<@H&JF:;N=H&Q=?&@S@PQ8=H&@8&PAFP=&P:<@?A:8&P@8GNA9=&=&9:;<JF&LA?PJF&
@;&9:N:&P=RAPA@;<=5&#F<:&L=?P:&9M98A9:&?@FJ8<:;<@&F@&N@;=PA;:&PAF:&N@&9:;<JF&LA?PJF&=&
PAF:&N@&<@;=?5&):F&P@8=NM:F&@F9=>AN:F&9=P=&9:;<JF&LA?PJF&Q?=9@N@;&N@8&>?@>=?A:;=&=&N@&
LJ@;<@F&Q?=L:;:FH&:Q8A9m;N=F@&@8&;=PK?@&N@&@F:F&QA@h:F&:&8:&PAF:5&

UT+T*&>AE:C5*G@58A7_GC5K:8A5
)=F&PUFA9=F&L8:P@;9=F&FJ@8@;&:KJF:?&N@&8:F&<b9;A9:F&N@8&9:;=;&I&=<?=F&:?<ALA9A=FH&
Q@?=&N@F:??=88:;&8:&APA<:9AG;&I&@8&9=;<?:QJ;<=&Q?=NA>A=F:P@;<@5&#F<:&@F9J@8:&FA@;<:&8:F&
K:F@F & N@ & 8: & Q=8AL=;M: & N@8 & FA>8= & [YH & KmFA9:P@;<@ & ?@8A>A=F:5 & 1@ & Q?@=9JQ:; & N@ & :N@9J:? & 8:&
PUFA9:&:8&FA>;ALA9:N=&N@&8:F&Q:8:K?:FH&@DQ?@F:;N=&9:N:&@P=9AG;5&1JF&?@Q?@F@;<:;<@F&F=;&05&
,JL:IH&^J@&F@&FA<U:&@;&8:&<?:;FA9AG;&@;<?@&%?F&+=R:&I&@8&FA>8=&[YH&*9@>E@PH&*K?@9E<&I&
k=F^JA;&N@F&3?bFH&^J@&@F&@8&>?:;&8:h=&N@&J;AG;&N@8&FA>8=&[Y&9=;&8:&Q=8AL=;M:&N@8&[Y/5&
!
!
!

&0JA88:JP@&,JL:I&(&9=PQ=;@&F=K?@&<=N=&PAF:F&9=;&8:&<b9;A9:&N@&9:;<JF&LA?PJFH&9JI=F&
9:;<=F & N@8 & =?NA;:?A= & @F<m; & PJFA9:8P@;<@ & J;ALA9:N=F5 & 3=F@@ & J;: & APQ=?<:;<@&
Q?=NJ99AG;&N@&P=<@<@FH&9E:;F=;&cQ?=L:;:FH&@;&L?:;9bFH&9=;&<@D<=F&:P:<=?A=FB5&
&k=E:;;@F & *9@>E@P&( & @F & J; & :J<=? & NALM9A8H & L?M=H & 9=;<?=R@?<AN= & I & :KF<?:9<=5 & f<A8Ah:&
PJ9E=F&9m;=;@F&@;&FJF&9=PQ=FA9A=;@FH&SJ>:;N=&:&=9J8<:?&FJ&@F<?J9<J?:5
&k=F^JA;&N@F&3?bF&( &N@&8=F&PmF&?@;=PK?:N=F&@&A;L8JI@;<@FH&@;&FJF&PAF:F&FJ@8@&JF:?&
9=P=&9:;<JF&LA?PJF&J;:&P@8=NM:&Q?=L:;:5&#;&FJF&PAF:F&N@&APA<:9AG;&=&Q:?=NA:&<=P:&
@;&Q?bF<:P=F&<=N:F&8:F&R=9@F&N@&J;:&9E:;F=;H&PAF:&=&P=<@<@&Q?@@DAF<@;<@&c;=&J;:&
R=h&F=8:B5&":PKAb;&9=PQ=;@&P=<@<@FH&9E:;F=;&I&L?=<<=8:F5

"=N=F&@F<=F&:J<=?@F&@F9?AK@;&:KJ;N:;<@&PUFA9:&?@8A>A=F:&9=;&8:F&<b9;A9:F&9A<:N:FH&
F=K?@&<=N=&:&<?:RbF&N@&N=F&>b;@?=F(&@8&P=<@<@&c@;&@8&^J@&<=N:F&8:F&R=9@F&9:;<:;&@8&PAFP=&
<@D<=B&I&8:&PAF:5
!!

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

UTUT*&>AE:C5*I:*^7@J7S5

,@F:??=88: & Q?A;9AQ:8P@;<@ & 8: & PUFA9: & Q?=L:;: & : & <?:RbF & N@ & 8: & 9:;9AG; & N@ & 9=?<@&
:?P=;Ah:N: & : & Q:?<A? & N@ & 8=F & R@?F=F & N@ & J;: & Q=@FM:5 & 1=; & QA@h:F & 9=?<:F & : & <?@F & R=9@F & 9=;&
L?@9J@;<@F&A;<@?8JNA=F&A;F<?JP@;<:8@F&@;&@F<A8=&=?;:P@;<:85&)=F&Q?A;9AQ:8@F&?@Q?@F@;<:;<@F&
F=; & 0A88@F &`A;9E=AFH & @; & 9JI=F & P=<@<@FH & EAP;=FH & P:>;ALA9:<F & I & F@99A=;@F & N@ & 8: & PAF:&
Q?@N=PA;:&@8&@F<A8=&N@&NAF9:;<=H&&I&%;<=A;@&`JF;=AF5

F"$8]E<?G$Y%0<R<3EG$%I$%0$E<R03$^_<
VT+T*47@K5>*@:C=J=7>5>

):F&N=F&>?:;N@F&L=?P:F&Q=8ALG;A9:F&N@8&.@;:9APA@;<=H&K:F@&N@&8:&8A<J?>A:&9:<G8A9:H&
FA>J@;&FA@;N=&8:&PAF:&I&@8&P=<@<@5&T:K?m&^J@&:W:NA?&:&bF<=F&@8&9=?:8&8J<@?:;=&I&@8&EAP;=&=&
:;<E@P&N@&8:&A>8@FA:&:;>8A9:;:5
#8 & P=<@<@( & N@QJ?:N= & N@ & 8=F & :NAP@;<=F & N@8 & FA>8= & [YH & @F & J; & 9:;<= & Q=8ALG;A9= & N@ & ?@>J8:?&
@D<@;FAG;H & 9=; & <@D<= & c;=?P:8P@;<@ & @; & 8:<M;B & F=K?@ & 9J:8^JA@? & P:<@?A:H & >@;@?:8P@;<@&
?@8A>A=F:F5&,@FN@&P@NA:N=F&N@8&[Y&E:F<:&LA;:8@F&N@8&[Y/&@F<:&L=?P:&A;FQA?:&9:FA&<=N:F&8:F&
R:?A@N:N@F&N@8&?@Q@?<=?A=&Q=8ALG;A9=&?@8A>A=F=5&,@F<:9:;&8=F&P=<@<@F&N@&0A=R:;;A&3A@?8JA>A&
N:&3:8@F<?A;:&c'Z!Z7'Z6XBH&@;&8=F&^J@&;=&F@&K:F:&=K8A>:<=?A:P@;<@&@;&<@P:F&Q?@@DAF<@;<@F5&
%N=Q<:&8:&L=?P:&N@&J;&9=;SJ;<=&N@&@QAF=NA=FH&9:N:&J;=&9=;&FJ&?@FQ@9<AR:&P@8=NM:H&^J@&
Q:F:&APA<:<AR:P@;<@&N@&J;:F&R=9@F&:&=<?:FH&I&FA>J@&8:F&L?:F@F&N@8&<@D<=5&%8&Q?A;9AQA=H&8:F&
R=9@F & 9=PA@;h:; & @F9:8=;:N:P@;<@H & I & F@ & :8<@?;:; & L?:>P@;<=F & APA<:<AR=F & 9=; & =<?=F&
E=P=LG;A9=FH&E:F<:&88@>:?&:&J;&LA;:8&:PQ8A=H&9=;98JFAR=&=&:?PG;A9=5
):&PAF:(&:8>J;=F&N@&FJF&L?:>P@;<=F&ciI?A@H&1:;9<JF&I&%>;JF&,@AB&F=;&P=<@<@FH&I&=<?=F&c@8&
08=?A:&I&@8&0?@N=B&LJ;N@;&R:?A=F&P=<@<@F&@;&J;:&F=8:&QA@h:5&&1@&9=;F<?JI@;&F=K?@&J;&<@P:&
>?@>=?A:;=&=&F=K?@&J;:&9:;9AG;&Q=QJ8:?&Q?=L:;:H&N@&8:&9J:8&<=P:&@8&<M<J8=&c@S5 &AB73//"&
%!/CB5&3:8@F<?A;:&<A@;@&PAF:F&FA;&8:F&A;LA;A<:F&?@Q@<A9A=;@F&I&:?<ALA9A=F&9=;<?:QJ;<MF<A9=F&N@8&
FA>8=&[YH&N=PA;:;N=&8:&F@?@;AN:N&I&@8&@^JA8AK?A=5
#8&9=?:8&8J<@?:;=(&;:9AN=&@;&@8&FA>8=&[Y/H&@F&J;&9:;<=&F:>?:N=&N@&8:F&A>8@FA:F&Q?=<@F<:;<@F&
:8@P:;:F&N@F<A;:N=&@;&J;&Q?A;9AQA=&:&F@?&9:;<:N=&Q=?&8=F&LA@8@F&@;&8:F&9@?@P=;A:F&?@8A>A=F:F&
@;&FJ&8@;>J:5&)J<@?=H&^J@&9?@@&@;&@8&Q=N@?&@NJ9:<AR=&I&b<A9=&N@&8:&PUFA9:H&N@F@:&^J@&<=N=F&
8=F&LA@8@F&Q:?<A9AQ@;&@;&FJF&F@?RA9A=F5&+=?P:8P@;<@&@8&9=?:8&Q:?<@&N@&J;:&P@8=NM:&Q?=L:;:&=&
?@8A>A=F:&9=;=9AN:&=&N@&J;:&9=PQ=FA9AG;&;J@R:H&I&F@&:?P=;Ah:&:&9J:<?=&R=9@F5&,@&@F<A8=&
E=P=LG;A9=H&F@&@F<?J9<J?:&@;&L?:F@F&K?@R@F&9=;&9:N@;9A:F&LA;:8@F5&
#8&EAP;=&:;>8A9:;=& c:;<E@PB(&N@8&[Y/H&@F&J;:&9=PQ=FA9AG;&9=??@FQ=;NAN:&9=;&@8&P=<@<@&
8:<A;=5 & T:I & N=F & @F<A8=F( & @8 & :;<E@P & Q8@;= & cQ:?: & 9=?=H & FA; & :9=PQ:W:PA@;<= & I&
9=;<?:QJ;<MF<A9=BH&I&@8&:;<E@P&N@&R@?FM9J8=&cQ:?:&F=8AF<:&9=;&G?>:;=&=&RA=8:&I&K?@R@F&Q:F:S@F&
:8<@?;:<AR=F&Q:?:&9=?=B5&1@&A;<@?Q?@<:&@;&@8&=LA9A=&&N@&8:&A>8@FA:&:;>8A9:;:H&@;&8:&^J@&@8&A;>8bF&
R:&FJF<A<JI@;N=&:8&8:<M;5

VTUT*&>AE:C5*@7K585,*0=7M588=*3=:@CE=J=*I5*35C:>9@=85
1JF&Q?A;9AQ:8@F&9:?:9<@?MF<A9:F&F=;&8:&:JF<@?AN:NH&F=K?A@N:NH&98:?AN:N&I&@^JA8AK?A=z&
Q?@F9A;N@&N@&8=&FJQ@?L8J=&I&FA>J@&N@&9@?9:&8:F&EJ@88:F&N@8&>?@>=?A:;=5&#8&@F<A8=&;:9A=;:8&R:&
:N^JA?A@;N= & APQ=?<:;9A:H & P=NALA9:;N= & @8 & ANA=P: & PJFA9:8 & A;<@?;:9A=;:8 & N@ & 8=F & L?:;9=7
L8:P@;9=F5 & ,@F<:9: & C=;F<:;h= & 4@F<:H & k:9=K & %?9:N@8<H & $:?9= & %;<=;A= & /;>@>;@?A & I & )J9:&
$:?@;hA=5
): & LA>J?: & 9JPK?@& @F &0T * 3T * 35C:>9@=85H & 9JI= & :?<@ & @;>8=K: &<=N:F & 8:F & <b9;A9:F & N@&
!V

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

9=PQ=FA9AG; & Q=8ALG;A9:5 & 1JF & PAF:F & ?@R@8:; & FJ & FA;>J8:? & 9=;<?:QJ;<=H & ?@>AN:F & Q=? & J;&
9=;F@?R:NJ?AFP=z&9:FA&@;&8:&PA<:N&N@&@88:F&?@9J??@&:&8:&<b9;A9:&N@8&9:;<JF&LA?PJFH&<=P:;N=&
J;: & P@8=NM: & >?@>=?A:;: & = & Q?=L:;: & 9=P= & K:F@ & Q:?: & >@;@?:? & 8: & 9=PQ=FA9AG;&
9=;<?:QJ;<MF<A9:5&#F<@&?@Q@?<=?A=&Q:?9A:8P@;<@&F@&:K:;N=;:&@;&Q?=R@9E=&N@&8:&PUFA9:&N@&
Q:?=NA:H&K:F:N:&@;&J;:&=K?:&Q=8ALG;A9:H&9:;9AG;&=&P=<@<@&^J@&@8&:J<=?&@D<?:@&N@&FJ&Q?=QA=&
?@Q@?<=?A=&=&N@8&N@&FJF&9=;<@PQ=?m;@=F&=&Q?@N@9@F=?@FH&I&^J@&?@@F<?J9<J?:&:8&F@?RA9A=&N@&
J;:&;J@R:&Q=8AL=;M:5
$UFA9=&@;&1:;&3@N?=&N@&.=P:H&PJI&?@FQ@<:N=H&3:8@F<?A;:&A8JF<?:&8:F&@DA>@;9A:F&N@8&
C=;9A8A=&N@&"?@;<=H&^J@&9@;FJ?:&8:&9=PQ8@SAN:N&N@&8:&@F9?A<J?:&Q=8ALG;A9:&Q=?^J@&Q@?SJNA9:&
8:&A;<@8A>AKA8AN:N&N@8&<@D<=H&@8&@FQM?A<J&Q?=L:;=&N@&:8>J;:F&9=PQ=FA9A=;@F&I&@8&@D9@FAR=&JF=&
N@&A;F<?JP@;<=F5&1A;&?@;J;9A:?&:8&9=;<?:QJ;<=H&9=;9AK@&8:&PUFA9:&N@&8:F&Q:?<@F&N@&8:&PAF:&
@;&LJ;9AG;&N@8&<@D<=(&@;&@8&iI?A@&JF:&8:&&APA<:9AG;H&@;&@8&08=?A:&8:&E=P=L=;M:H&@;&@8&C?@N=&@8&
FA8:KAFP=555&C=;FAN@?:N=&q#8&3?M;9AQ@&N@&8:&PUFA9:rH&FJF&=K?:F&F@&9=;FAN@?:&q8:&Q@?L@99AG;&
:KF=8J<:r&N@8&@F<A8=&@98@FAmF<A9=5&1J&PUFA9:&N@F<:9:&Q=?&8:&QJ?@h:&N@&8:&P@8=NM:&I&:?P=;M:H&
Q=?&FJ&F@?@;AN:N&I&<?:;FQ:?@;9A:&I&Q=?&@8&@F9:F=&9?=P:<AFP=5

VTVT*&>AE:C5*I:*P:8:A=5,*b=CC5:@9*D*C7>*05F@=:C=
#8 & 9@;<?= & 9J8<J?:8 & PJFA9:8 & N@ & Y@;@9A: & @F & 8: & K:FMFA9: & N@ & 1:; & $:?9=F5 & 1J & PUFA9:&
P:;ALA@F<:&8:&P:S@F<J=FAN:N&N@8&#F<:N=&I&N@&8:&/>8@FA:5&Y@;@9A:&F@&<=P:&PmF&:&8:&8A>@?:&8:&
?@8A>AG;H&Q=?&FJ&@FQM?A<J&E@N=;AF<:H&@D<?:R@?<AN=&I&9=FP=Q=8A<:5&
1A&8:&#F9J@8:&.=P:;:&Q@?L@99A=;:&8:F&L=?P:F&:;<@?A=?@FH&8:&R@;@9A:;:&Q?@F@;<:&N=F&
FA;>J8:?AN:N@F(&8:&Q=8A9=?:8AN:N&c9=PKA;:&N=K8@F&=&<?AQ8@F&9=?=FB&I&@8&:JP@;<=&N@8&;UP@?=&
N@ & R=9@FH & JF:;N= & =9:FA=;:8P@;<@ & A;F<?JP@;<=F & Q:?: & ?@L=?h:? & @8 & 9=8=?AN= & PJFA9:85 & ):&
PUFA9: & ?@FJ8<:;<@ & Q=F@@ & J;: & <@D<J?: & Q8@;: & I & ?A9:H & E=PGL=;:H & N@ & F=;=?AN:N & R:?A:N: & I&
9=8=?AN:5&1JF&?@Q?@F@;<:;<@F&F=;&%N?A:;&gA88:@?<H&CAQ?A:;=&N@&.=?@&I&0A=F@LL=&j:?8A;=5&3@?=&
LJ@?=;&%;N?@:&0:K?A@8A&I&FJ&F=K?A;=&0A=R:;;A&^JA@;@F&88@R:;&:&8:&@F9J@8:&:&FJ&:Q=>@=&I&
PmDAP=&9=8=?AN=&<MPK?A9=5&

VTWT*&>AE:C5*GC5K:8A5
C=;<A;U:&9=;&@8&PAFP=&@FQ8@;N=?&N@8&FA>8=&[Y5&#;&8:&Q?AP@?:&PA<:N&N@F<:9:&k=F^JA;&
N@F&3?bFH&I&@;&8:&F@>J;N:&*?8:;N=&NA&):FF=H&^J@&?@Q?@F@;<:&8:&P:NJ?@h&N@&@F<:&@F9J@8:5&
):FF=&RA:S:&Q=?&<=N:&#J?=Q:z&Q=?&FJ&9=FP=Q=8A<AFP=&@&A;^JA@<JN&FA;<@<Ah:&@8&@F<A8=&L8:P@;9=&
9=; & @8 & A<:8A:;=5 & .@F:8<: & FJ & Q?=NJ99AG; & ?@8A>A=F:H & L=?P:N: & Q=? & 9A;9J@;<: & I & N=F & PAF:FH&
F@<@9A@;<=F & =9E@;<: & P=<@<@F & I & 9J:<?=9A@;<:F & R@A;<A;J@R@ & 9:;9A=;@F & ?@8A>A=F:F & @; & 8:<M; & I&
:8@Pm;5 & 1J & R@?F:<A8AN:N & F@ & PJ@F<?: & @; & @8 & JF= & N@8 & 9=;<?:QJ;<= & L?:;9=7;@@?8:;NbFH & 8:&
:?P=;M:&A<:8A:;:H&8:&=QJ8@;9A:&R@;@9A:;:H&8:&RAR:9AN:N&L?:;9@F:&I&8:&>?:R@N:N&:8@P:;:5

VTXT*&>AE:C5*:>L5S7C5
#8&FA>8=&[Y/&@F&@8&1A>8=&N@&*?=&N@&8:&PUFA9:&@FQ:W=8:z&PJI&Q=9:F&9=PQ=FA9A=;@F&F@&
APQ?AP@;&@;&;J@F<?=&Q:MFH&Q=?&8=&^J@&K:F<:;<@F&F@&E:;&Q@?NAN=&=&@F<m;&Q=?&N@F9JK?A?5&#F<:&
@F9J@8:&F@&NAF<A;>J@&Q=?&FJ&Q?=LJ;NAN:N&I&PAF<A9AFP=&=&@DQ?@FA=;AFP=&N?:Pm<A9=5&)=F&<?@F&
>?:;N@F&PUFA9=F&F=;(
4?:;9AF9= & 0J@??@?=( & F@RA88:;=H & @F & P:@F<?= & N@ & 9:QA88: & @; & R:?A:F & 9:<@N?:8@F5 & 1J & =K?: & F@&
9:?:9<@?Ah: & Q=? & FJ & Q@?L@99AG; & <b9;A9:H & FJF & P@8=NM:F & 9=; & J;: & A;;@>:K8@ & >?:9A: & I & J;&
Q?=;J;9A:N=&9:?m9<@?&Q@?F=;:85&%Q:?<@&N@&FJF&PAF:F&I&P=<@<@FH&F=;&N@F<:9:K8@F&FJF&4%+!%"&
+%(,*3("1H&D%#(*;*+%,&I&8%(+*3("1&E&<*$$%("1+%1&"15*!*,.%$"15&

!X

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

C?AF<GK:8&N@&$=?:8@F(&F=;&?@F@W:K8@F&FJF&q)AK?=F&N@&PAF:FrH&FJF&P=<@<@F&I&FJF&NA@9AFbAF&
P:>;ALA9:<H&@PQ:Q:N:F&N@&J;&PAF<A9AFP=&NALM9A8P@;<@&FJQ@?:K8@5&1J&@F<A8=&@F&:JF<@?=& &I&
F@;9A88=&I&FJK?:I:&&8:&LA;:8AN:N&@DQ?@FAR:5
'7K[> * -E=> * I:* P=A97@=5(& @F<JNA: &@;&.=P:& 9=A;9ANA@;N= & 9=;&3:8@F<?A;:H &N@&^JA@; & F@&
A;L8JA?m5&1J&q)AK?=&N@&PAF:FrH&@8&q*LA9A=&N@&1@P:;:&1:;<:r&I&8:&q$AF:&N@&.@^JA@Pr&@F<m;&
9:?>:N:F & N@ & J; & >?:; & PAF<A9AFP=H & @FQA?A<J:8AN:N & ?@8A>A=F: & I & J;: & @DQ?@FARAN:N & Q?=LJ;N:5&
/;R@F<A>: & @8 & <APK?@&I &8: &F=;=?AN:N& P@NA:;<@ &8: &Q=8A9=?:8AN:N &@; &:8>J;:F &=K?:Fz &JF: & 8=F&
FA8@;9A=F&9=;&LA;@F&@DQ?@FAR=F&I&<A@;N@&:&8:&:?P=;M:&<=;:8&I&:8&9?=P:<AFP=5&":PKAb;&QJK8A9:&
P:>;ALA9:<F&I&F:8P=F5&3:?:&PJ9E=FH&YA9<=?A:&@F&@8&PmF&>?:;N@&9=PQ=FA<=?&@FQ:W=8&N@&<=N=F&
8=F&<A@PQ=F5

N"$8]E<?G$CY3MGIG$%I$%0$Y%IG?<8<%IO3
WT+T*%5@5A9:@H>9=A5>

):F&NAL@?@;9A:F&9=;&?@FQ@9<=&:&8:&PUFA9:&?@8A>A=F:&F=;&8:F&FA>JA@;<@F(
! 1@&Q:?<@&N@&<@D<=F&@;&8@;>J:&RJ8>:?&I&;=&@;&8:<M;
! 1@&N:&J;:&>?:;&<@;N@;9A:&:&8=F&P=N=F&P:I=?&I&P@;=?&:9<J:8@F
! )=F&<@P:F&F=;&PmF&=?A>A;:8@F&I&;=&@F<m;&<=P:N=F&N@&8=F&I:&@DAF<@;<@F
! 3:?:&R=9@F&F=8AF<:F&:9=PQ:W:N:F&L?@9J@;<@P@;<@&N@&:8>U;&A;F<?JP@;<=
! ):F&L=?P:F&R:?M:;&F@>U;&8:&;:9AG;H&Q@?=&9=;L8JI@;&@;&8:&F@>J;N:&PA<:N&N@8&FA>8=&PmF&
=&P@;=F&NA?@9<:P@;<@&@;&8:&9:;9AG;&I&@;&@8&P:N?A>:85
! 1@ & LAS: & 8: & NAFQ=FA9AG; & N@ & 8:F & R=9@F & N@8 & 9=?= & ^J@ & Q@?NJ?: & :9<J:8P@;<@( & F=Q?:;=&
cFJQ@?AJF&=&<AQ8@&@;&#FQ:W:BH&9=;<?:8<=&c=&:8<=BH&<@;=?&I&K:S=5

WTUT*$95C=5,*:C*K5I@=J5CB*C5*G@7997C5TTT

#;<?@&LA;:8@F&N@8&FA>8=&[Y&I&Q?A;9AQA=F&N@8&[Y/&F@&N@F:??=88:&@;&/<:8A:&J;&@F<A8=&N@&9:;9A=;@F&
Q=8ALG;A9:F&F@;9A88:F&I&FA8mKA9:FH&9=P=&?@:99AG;&:8&9=PQ8A9:N=&@F<A8=&L8:P@;9=H&FA@;N=&8:F&
PmF&APQ=?<:;<@F(
! &):&L?=<<=8:&( &:&9J:<?=&R=9@FH&E=P=LG;A9:H&9=;&8:&P@8=NM:&@;&@8&F=Q?:;=&c:&R@9@F&8:F&
R=9@F&A;<@?P@NA:F&F@&A;<@?Q?@<:;&9=;&A;F<?JP@;<=FBz&N@&&9:?m9<@?&Q=QJ8:?H&F@&9:;<:&
@;&LA@F<:F&F=9A:8@F&I&<?:<:&:FJ;<=F&@?G<A9=F&=&F:<M?A9=F5
! &):&RA88:;@F9:&=&RA88:;@8:(&FAPA8:?&:&8:&:;<@?A=?&Q@?=&PmF&?@LA;:N:5
! &#8&P:N?A>:8&( &FMPK=8=&N@&8:&PUFA9:&Q?=L:;:&?@;:9@;<AF<:H&;:9@&N@;<?=&N@8&@FQM?A<J&
Q=b<A9=&A;A9A:N=&Q=?&3@<?:?9:5&#F&J;:&L=?P:&Q=8ALG;A9:&N@F9?AQ<AR:&I:&^J@&:&<?:RbF&N@&
8:&J;AG;&N@&8@<?:&I&PUFA9:&@DQ?@F:&8=F&F@;<APA@;<=F&N@8&E=PK?@&9=P=&F@?&Q?=L:;=5&
C:;<:N=&:&9J:<?=&=&9A;9=&R=9@FH&:&9:Q@88:&=&9=;&:9=PQ:W:PA@;<=H&@F&@8&8@;>J:S@&N@&
J;: & 98:F@ & F@8@9<:H & @DQ?@FAG; & 8M?A9: & N@8 & F@? & EJP:;= & ^J@ & 9:;<: & FJF & RAR@;9A:FH & FJF&
F@;<APA@;<=F&F@;FJ:8@F&I&:P=?=F=FH&I&^J@&N@PJ@F<?:&^J@&b8&@F&@8&9@;<?=&N@8&PJ;N=5&
38:FP:&PA;J9A=F:P@;<@&8:&8@<?:&N@&J;&Q=@P:H&Q=?&8=&^J@&FJ&L=?P:&I&?AP:&F=;&8AK?@F&
I&Q@?PA<@&@DQ@?AP@;<:?&PJFA9:8P@;<@5&1@&9J8<AR:&@;&:PKA@;<@F&9=?<@F:;=FH&F=K?@&
<=N=&@;&h=;:F&9=;&LJ@?<@&:PKA@;<@&Q?=L:;=&cY@;@9A:H&/;>8:<@??:B5&fF:&J;&8@;>J:S@&
PJFA9:8&PJI&NALM9A8&I&9J8<=H&P@NA:;<@&@8&9?=P:<AFP=&I&J;&9=;<?:QJ;<=&@8:K=?:N=&
9=PKA;:N=&9=;&E=P=L=;M:5&)=F&Q@?M=N=F&N@8&N@F:??=88=&N@8&P:N?A>:8&F=;(
! 't&pQ=9:&c'Z!Z7'Z]OB(&E=P=LG;A9=H&:&<?@F&=&9J:<?=&R=9@F&9=;&8:&P@8=NM:&@;&8:&
FJQ@?A=?5&3=b<A9:P@;<@&@F&8AK?@H&FA;&@F<?AKA88=&I&F=K?@&<@D<=F&N@&Q=@<:F&9b8@K?@F&
c3@<?:?9:H&`=9:99A=B5&1JF&?@Q?@F@;<:;<@F&F=;&%?9:N@8<H&4@F<:H&Y@?N@8=<555
! !t&pQ=9:&c'Z]O7'Z6OB(&@F&@8&P:N?A>:8&98mFA9=H&PmF&E=?Ah=;<:8&I&Q=8ALG;A9=H&:&9A;9=&
R=9@F&A>J:8P@;<@&APQ=?<:;<@F5&"?:NJ9@&9=;&P:I=?&@D:9<A<JN&@8&9:?m9<@?&>@;@?:8&
N@ & 8: & Q=@FM:H & JF:;N= & PJ9E=F & 9?=P:<AFP=F & 9=; & LA;@F & @DQ?@FAR=F5 & 1JF&
?@Q?@F@;<:;<@F&F=;&*5&NA&):FF=H&3:8@F<?A;:H&%;N?@:&0:K?A@8AH&CAQ?A:;=&N:&.=?@5
!Z

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

Vt &pQ=9: &c'Z6O7']!OB(& :89:;h: & FJ& P:@F<?M: & I& @DQ@?AP@;<: & <=N:F & 8:F & :JN:9A:F&
Q=FAK8@F & ^J@ & 8= & E:9@; & J; & R@?N:N@?= & Q=@P: & PJFA9:8H & 9=; & J; & 9:?m9<@? & PmF&
N?:Pm<A9=5&)=F&PUFA9=F&F@&Q@?9:<:;&N@&8:&NALA9J8<:N&N@&<?:NJ9A?&8=F&F@;<APA@;<=F&
A;NARANJ:8@F & : & <?:RbF & N@ & J; & 9=?= & Q=8ALG;A9=H & I & F=8A9A<:; & J;: & F=8: & R=h & Q:?:&
@DQ?@F:?8=FH&Q=?&8=&^J@&@;&@8&Q:F=&N@8&FA>8=&[Y/&:8&[Y//&8:F&R=9@F&N@8&9=?=&cP@;=F&
8:&Q?A;9AQ:8B&F@&FJF<A<JI@;&Q=?&A;F<?JP@;<=F5&#F<=&N:&8J>:?&:8&qF=8=&:9=PQ:W:N=rH&
9JI=&Q?A;9AQ:8&:J<=?&@F &(789:M:@I=& c'Z]_7']XVB5&C=PKA;:&J;AL=?P@P@;<@&8:&
E=P=L=;M:&9=;&@8&9=;<?:QJ;<=H&?@L8@S:&&@8&<@D<=H&@&A;<?=NJ9@&Q:F:S@F&N@98:P:N=F&:&
8: & P:;@?: & N@ & J; & ?@9A<:<AR=5 & %Q:?<@ & N@ & $=;<@R@?NAH & ^J@ & N: & Q:F= & :8 & `:??=9=H&
N@F<:9:;&)J9:&$:?@;hA=&I&0@FJ:8N=H&3?M;9AQ@&N@&Y@;=F:5&

WTVT*&C*K5I@=J5C*:8*$8JC59:@@5
1@&9=;FAN@?:&PUFA9:&N@&9mP:?:&=&N@&F=8AF<:F&cN@&9J:<?=&:&F@AFBH&9=;&?A<P=F&N@&N:;h:&I&
F@99A=;@F & NAL@?@;9A:N:FH & E=P=LG;A9=H & 9=; & Q=9=F & 9?=P:<AFP=F & I & NAF=;:;9A:FH & P@;=F&
:?<ALA9A=F=&^J@&@8&A<:8A:;=&I&9=;&<@D<=F&PmF&F@;9A88=F&I&P@;=F&?@LA;:N=F5&1JF&:J<=?@F&PmF&
APQ=?<:;<@F &F=;&gA88A:P&`I?NH&*?8:;N=&0AKK=;F&I&"E=P:F&$=?8@IH&^J@&QJF=&PUFA9:&:&
9:;9A=;@F&N@&1E:@FQ@:?@5

WTWT**-5*A58A=?8*G@58A:>5
,@ & ?:Mh & <?=R:N=?@F9:H & ?@9E:h: & 8=F & :?<ALA9A=F & 9=;<?:QJ;<MF<A9=F & @; & :?:F & N@ & 8:&
FAPQ8A9AN:NH & 8: & @FQ=;<:;@AN:N & I & 8: & N@8A9:N@h:5 & "?:<: & <@P:F & 9GPA9=FH & @?G<A9=FH & @8 & :P=?&
9=?<bFz&JF:&@8&FA8:KAFP=&I&8:&Q?@9AFAG;&?M<PA9:&L?:;9@F:z&&N@F9?AQ<AR:H&>JF<:&N@&APA<:?&@8&9:;<= &
N@&8=F&QmS:?=FH&8=F&@L@9<=F&;:<J?:8@FH&@<95&,@F<:9:;&C8bP@;<&k:;;@^JA;&c'XaZ7'ZZaBH&9=;&
9J:<?=9A@;<:F & 9:;9A=;@FH & 9=P= & q):F & 9E:?8:<:;:FrH & q)=F & >?A<=F & N@ & 3:?MFrH & q): & K:<:88: & N@&
$:?A>;:;rH&@;&8:&^J@&APA<:&8=F&<:PK=?@FH&I&@8&L?:>=?&N@&8:&K:<:88:5&*<?=F&:J<=?@F&F=;&3A@??@&
%<<:A>;:;<&I&C8:JN@&8@&k@J;@5

WTXT*&>L5S5,*M=CC58A=A7B*@7K58A:BTTT
): & PUFA9: & R=9:8 & Q?=L:;: & & F@ & 9:?:9<@?Ah: & Q=? & @DQ?@F:? & 9=; & R@E@P@;9A: & @8 & <@D<=H&
Q?@L@?A? & 8: & E=P=L=;M:H & JF:? & J; & 8@;>J:S@ & P=N@?;= & cNAF=;:;9A:FH & FA8@;9A=F & 9=; & A;<@;9AG;&
:?<MF<A9:B&I&Q=?&&A;L8JA?F@&N@&8:F&PUFA9:F&Q=QJ8:?@FH&9=;&J;&?A<P=&I&@DQ?@FAG;&PmF&RA<:85&):F&
L=?P:F&PmF&9:?:9<@?MF<A9:F&F@&@;9J@;<?:;&@;&9:;9A=;@?=F&9=P=&@8&C:;9A=;@?=&N@&3:8:9A=H&
C:;9A=;@?=&N@&fQF:8:H&C:;9A=;@?=&N@&$@NA;:9@8AH&I&&F=;(
! &.=P:;9@&( & Q=8ALG;A9=H & K:F:N= & @; & :;<A>J=F & ?=P:;9@F & @FQ:W=8@FH & F@ & @F<?J9<J?: & @;&
9J:<?=&L?:F@F&PJFA9:8@F&^J@&F@&9=??@FQ=;N@;&9=;&8=F&9J:<?=&R@?F=F&N@&8:&Q?AP@?:&
@F<?=L:5&C=;&@F<:&PUFA9:&F@&9:;<:;&<=N=F&8=F&9J:?<@<=F&c%`%CH&%`%CB&%J<=?@F&N@&
bF<=F&F=;&kJ:;&N@8&#;hA;:&I&kJ:;&Ymh^J@h5
! &YA88:;9A9=&( & N@ & =?A>@; & Q=QJ8:? & I & Q?=L:;=H & 9=;F<: & N@( & @F<?AKA88= & c%BH & ^J@ & @DQ=;@& @8&
<@P:z&8:&9=Q8:H&9=;&8:&PJN:;h:&cK&KB&I&8:&RJ@8<:&c:Bz&I&@F<?AKA88=5&#F&@8&@^JAR:8@;<@&
@FQ:W=8&N@&8:&L?=<<=8:H&N@&@F<A8=&E=P=LG;A9=&I&8:&P@8=NM:&Q=QJ8:?&@;&8:&R=h&FJQ@?A=?5&
):&<@Pm<A9:&@F&R:?A:N:H&;=&FG8=&?@8A>A=F:5&%&R@9@FH&F@&N:&@8&PAFP=&;UP@?=&N@&R=9@F&
@; & @8 & @F<?AKA88= & I & 8: & 9=Q8:z & =<?:FH & :8<@?;:; & @8 & 9=?= & I & J; & F=8AF<:5 & kJ:; & N@8 & #;hA;:&
9=PQ=;@&PJ9E=F&&Q:?:&LA;:8Ah:?&FJF&=K?:F&<@:<?:8@FH&9=;F@?R:N=F&@;&@8&qC:;9A=;@?=&
N@&3:8:9A=r5
! &#;F:8:N:&( &Q=8ALG;A9: &I&Q?=L:;:H&P@h98:&8=F&@F<A8=F&N@8&P:N?A>:8H&9:;9AG;&Q=QJ8:?H&
RA88:;9A9=H&?=P:;9@&I&N:;h:z&P@h98:&<@P:F&NAL@?@;<@FH&<@D<J?:FH&<APK?@FH&@<95&):F&N@&
$:<@=&48@9E:&@8&YA@S=&<A@;@;&9J?A=F:F&P@h98:F&8A;>~MF<A9:F&cA<:8A:;=H&9:F<@88:;=H&8:<M;H&
9:<:8:;:BH&Q?=L:;:F&I&?@8A>A=F:FH&@<95

!]

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

'&()*W,*-)*(a1$%)*$"1'/O(&"')-*&"*&"*/&")%$($&"'.
'7&/;<?=NJ99AG;(&C=;<@D<=&EAF<G?A9=H&F=9A:8&I&9J8<J?:8
!7&,@F:??=88=&N@&8:&PUFA9:&A;F<?JP@;<:8&NJ?:;<@&@8&.@;:9APA@;<=
V7&C:?:9<@?MF<A9:F&N@&8:&PUFA9:&A;F<?JP@;<:8&N@8&.@;:9APA@;<=
X7&*?>:;=8=>M:(
! /;F<?JP@;<=F&N@&RA@;<=
! /;F<?JP@;<=F&N@&9J@?N:
! /;F<?JP@;<=F&N@&<@98:N=
Z7&4=?P:F&A;F<?JP@;<:8@F

!"#$<)*-+5=''/>)Q$?+)*.@*+$A/2*>-/'+`$2+'/(&$B$'=&*=-(&
,@;=PA;:?@P=F & 9=P= & ?@;:9@;<AF<: & : & 8: & PUFA9: & Q?=NJ9AN: & NJ?:;<@ & @8 & Q@?A=N=&
9=PQ?@;NAN= & @;<?@ & 'XZO & I & ']OO & :Q?=DAP:N:P@;<@5 & #; & @F<:F & L@9E:F & F@ & Q?=NJS= & J;&
APQ=?<:;<@&9:PKA=&EAF<G?A9=&I&9J8<J?:8&@;&<=N:&#J?=Q:5&
#8 & & FA>8= & [Y & @F & J; & & FA>8= & N@ & <?:;FA9AG; & N@FN@ & 8: & #N:N & $@NA:H & @; & N=;N@ & E:I & J;&
N@F:??=88=&N@8&9=P@?9A=&I&J;&:F9@;F=&F=9A:8&N@&8:&KJ?>J@FM:5&):F&9AJN:N@F&:N^JA@?@;&>?:;&
APQ=?<:;9A:&I&E:I&J;:&?@RA<:8Ah:9AG;&N@&8:&9J8<J?:&N@FN@&/<:8A:&:&<?:RbF&N@8&TJP:;AFP=H&
9=P=&K:F@&AN@=8G>A9:&N@8&.@;:9APA@;<=5&#8&;:9APA@;<=&N@&8:&APQ?@;<:&@;&'XZZ&Q@?PA<@&J;:&
?mQAN:&I&PmF&:PQ8A:&NALJFAG;&N@&8:&9J8<J?:5
#8&FA>8=&[Y/&FJQ=;@&@8&.@;:9APA@;<=&Q8@;=&9=;&J;&:LA:;h:PA@;<=&N@&8:F&9AJN:N@F7
@F<:N=H&NA?A>AN:F&Q=?&8:&KJ?>J@FM:&9:QA<:8AF<:&^J@&:8>J;:F&R@9@F&F@&9=;R@?<A?m&@;&Q?=<@9<=?:&
N@8&:?<@&:&<?:RbF&N@&8=F&P@9@;:F&c$bNA9AFH&1L=?h:yB5&)=F&:R:;9@F&9A@;<MLA9=F&F@&N:;&@;&<=N=F&
8=F&9:PQ=F(&P@NA9A;:H&:F<?=;=PM:H^JMPA9:&P@9m;A9:y&N@&8:&P:;=&N@&i@Q8@?H&C=Qb?;A9=H&
0:8A8@=H&,:&YA;9AH&1@?R@<y&3@?=&<=N=&;=&LJ@&:R:;9@&I&Q?=FQ@?AN:N5&):&.@L=?P:&3?=<@F<:;<@H&
;=&FG8=&<JR=&9=;F@9J@;9A:F&@;&8:&?@8A>AG;5&":PKAb;&@;&8=&Q=8M<A9=&I&8=&@9=;GPA9=H&8=&^J@&
Q?=R=9G&>J@??:F&A;<@?;:9A=;:8@F&@;&<=N:&#J?=Q:5&#8&=KS@<AR=&N@8&C=;9A8A=&N@&"?@;<=&LJ@&
A;<@;<:?&:LA:;h:?&8:&:J<=?AN:N&Q:Q:8&I&?@=?>:;Ah:?&8:&?@8A>AG;&:&<?:RbF&N@&8:&C=;<?:??@L=?P:5

7"#$J.2(--+&&+$5.$&($192/'($/)2*-=1.)*(&$5=-()*.$.&$Y.)('/1/.)*+

+=F&E:&^J@N:N=&9=;F<:;9A:&N@8&JF=&N@&A;F<?JP@;<=F&NJ?:;<@&8:&#N:N&$@NA:&:&<?:RbF&
N@&<@F<AP=;A=F&A9=;=>?mLA9=F&I&8A<@?:?A=F5&,@FN@&@F<:&bQ=9:&F@&@F<:K8@9@;&J;:&98:FALA9:9AG;&
@;<?@&A;F<?JP@;<=F&Q:?:&@8&@D<@?A=?&c:8<=FB&I&Q:?:&@8&A;<@?A=?&cK:S=FBH&@;&N=;N@&F@&=KF@?R:&
J;:&LJ<J?:&NAF<A;9AG;&@;<?@&PUFA9:&N@&9mP:?:&I&9=;SJ;<=F&:8&:A?@&8AK?@5&,@FN@&@F<:&bQ=9:&8=F&
A;F<?JP@;<=F&PJFA9:8@F&F@&@PQ8@:K:;&Q:?:&N=K8:?&R=9@F&=&Q:?:&@S@9J<:?&:9=PQ:W:PA@;<=F&
PJI&F@;9A88=F& &I&Q=?&FJ&QJ@F<=&bF<=F&;=&@F<:K:;&KA@;&RAF<=F&N@;<?=&N@&8:&/>8@FA:&Q=?&FJF&
9=;;=<:9A=;@F&8:A9:F&c:&@D9@Q9AG;&N@8&G?>:;=B5
,J?:;<@ & @8 & .@;:9APA@;<= & F@ & =9:FA=;G & J;: & F@?A@ & N@ & 9:PKA=F & ^J@ & L:R=?@9A@?=; & @8&
N@F:??=88=&N@&8:&PUFA9:&A;F<?JP@;<:8(
! #;?A^J@9APA@;<= &N@&8: & F=9A@N:N& I&J;:& :LA9AG;&: &8: &PUFA9:& Q=?&Q:?<@&N@& 8:&
KJ?>J@FM:5 & #; & @8 & F5 & [Y/ & F@ & 9?@:; & 9=?Q=?:9A=;@F & N@ & L:K?A9:;<@F & N@&
A;F<?JP@;<=F5
! )=F & P@9@;:F & NAFQ=;M:; & E:KA<J:8P@;<@ & @; & FJF & 9:QA88:F & N@ & 9=;SJ;<=F&
A;F<?JP@;<:8@F&cN@;=PA;:N=F&PA;AF<?A8@FBH&8=&^J@&L:R=?@9AG&@8&F<:<JF&F=9A:8&
N@8&PUFA9=5
! )=F&:R:;9@F&9A@;<MLA9=F&Q?=R=9:?=;&J;:&@DQ@?AP@;<:9AG;&E:9A:&8:&P:;@?:&N@&
Q?=NJ9A?&F=;AN=FH&N@&:EM&8:&A;R@;9AG;&N@&PJ9E=F&N@&@88=F&NJ?:;<@&@F<:&bQ=9:5
):F&LJ@;<@F&Q:?:&@F<JNA:?&8:&PUFA9:&A;F<?JP@;<:8&N@8&.@;:9APA@;<=&F=;&N@&<?@F&
!_

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

<AQ=F(
!
!
!

&"?:<:N=F&PJFA9:8@F&(&9=;&N@F9?AQ9A=;@F&N@&A;F<?JP@;<=FH&>?:K:N=FH&<:K8:<J?:FH&
@<5&,@F<:9:;&8=F&N@&YA?NJ;>H&%>?M9=8:&I&3?:@<=?AJF5
&/9=;=>?mLA9:F&( & 8: &QA;<J?: &I& @F9J8<J?: & N@ &8: &bQ=9: &;=F&N:& QAF<:F& &N@&^J@ & 8:&
PUFA9: & A;F<?JP@;<:8 & :Q:?@9@ & @; & 9@?@P=;A:F & QUK8A9:FH & 9=?<@S=FH & K:A8@FH&
L@F<@S=Fy
&/;F<?JP@;<=F & 9=;F@?R:N=F&( & )=F & Q?AP@?=F & N:<:; & N@8 & FA>8= & [Y/ & cRA=8A;@FH&
8:UN@FH&<A=?K:FyB5&1=;&N@&>?:;&R:8=?&Q=?^J@&;=F&Q@?PA<@;&FJ&?@9=;F<?J99AG;5

):&APQ=?<:;9A:&N@&8:&APQ?@;<:(&3=?&@F<=F&:W=F&<:PKAb;&;:9@&8:&APQ?@;<:&N@&<AQ=F&
PGRA8@FH&^J@&?@R=8J9A=;G&8:&<?:;FPAFAG;&N@&A;L=?P:9AG;&N@&8:&F=9A@N:N&@J?=Q@:5&T:F<:&@F@&
P=P@;<=H&8:F&;=<:F&PJFA9:8@F&F@&@F9?AKM:;&:&P:;=&F=K?@&Q@;<:>?:P:F&>?:K:N=F5&,A9E=&
A;R@;<= & FJQJF= & J;: & P:I=? & NALJFAG; & N@ & 8: & PUFA9: & @; & 9J:;<= & : & 9:;<AN:N & I & ?:QAN@h & N@&
9A?9J8:9AG;&N@&8:&PAFP:5
#;&'ZO'&F@&@NA<G&@8&Q?AP@?&8AK?=&N@&PUFA9:&9=;&9:?:9<@?@F&PGRA8@FH&@8 &F%!/3(*+"&
D.1*+"1 & G)7"+%,3(H & N@8 & <:88@? & <AQ=>?mLA9= & N@ &.995M=587 * 3:9@EAA=5 & #F<: & Q?AP@?:&
Q?=NJ99AG;&LJ@&J;:&:;<=8=>M:&N@&6]&9:;9A=;@F&Q=8ALG;A9:FH&:&8:&^J@&N@FQJbF&FA>JA@?=;&=<?:F&
<:;<:F&9=P=&9=8@99A=;@F&N@&P=<@<@FH&R=8UP@;@F&N@&PAF:F&9=;F:>?:N:F&:&J;&F=8=&:J<=?&=&
?@9=QA8:9A=;@F&N@&R:?A=FH&A;98JF=&=;9@&8AK?=F&N@&L?=<<=8:F&@NA<:N=F&@;<?@&'ZOX&I&'Z'X5

F"#$?(-('*.-D2*/'(2$5.$&($192/'($/)2*-=1.)*(&$5.&$Y.)('/1/.)*+
#8 & .@;:9APA@;<= & :FAF<@ & : & 8:F & Q?AP@?:F & P:;AL@F<:9A=;@F & N@ & PUFA9: & QJ?:P@;<@&
A;F<?JP@;<:8H&Q:?:&8=&9J:8&F@&?@^J@?A?m&N@&J;&A;F<?JP@;<=&FJLA9A@;<@H&J;:&9:Q:9AN:N&<b9;A9:&
@ & A;<@?Q?@<:<AR: & :N@9J:N: & Q=? & Q:?<@ & N@ & 8=F & <:W@N=?@F & I & J;=F & FAF<@P:F & N@ & ;=<:9AG;&
:N@9J:N=F&:&8=F&A;F<?JP@;<=F&c<:K8:<J?:FB5
%N@PmF & N@ & 8:F & 9:?:9<@?MF<A9:F & N@ & @F<A8= & 9=PJ;@F & : & <=N= & @8 & Q@?A=N= & cQ=8AL=;M:H&
<@D<J?:F&APA<:<AR:FH&@<95BH&8:&PUFA9:&A;F<?JP@;<:8&<A@;@&:8>J;:F&Q@9J8A:?AN:N@F(
! 1@&@F9?AKAG&PUFA9:&Q:?:&F=8AF<:F&I&>?JQ=F5&#;<?@&8=F&Q?AP@?=F&LJ@?=;&APQ=?<:;<@F&
8:F&9=PQ=FA9A=;@F&Q:?:&G?>:;=H&98:R@&I&8:UN5
! #; & PUFA9: & Q:?: & >?JQ=F & F@ & <A@;N@ & : & 8: & :>?JQ:9AG; & N@ & 8=F & A;F<?JP@;<=F & Q=?&
L:PA8A:F&88:P:N:F&+3(13!,1&@;&/;>8:<@??:&cN@&!&:&a&A;F<?JP@;<AF<:FBH&KJF9:;N=&8:&
E=P=>@;@AN:N&@;&@8&?@>AF<?=&N@&J;&A;F<?JP@;<=5&1A;&@PK:?>=&8:F&:>?JQ:9A=;@F&
A;F<?JP@;<:8@F&@?:;&PJI&R:?A:N:FH&N@KAN=&:&^J@&;=&E:KM:&@;&:^J@88:&bQ=9:H&J;:&
9=;9A@;9A:&<MPK?A9:&9=P=&8:&^J@&E=I&@DAF<@5&
! ): &98:FALA9:9AG;& N@& 8=F &A;F<?JP@;<=F &Q=? & <:;<=H &RA@;@ & N:N: &Q=? & @8 &9?A<@?A= & N@8&
R=8JP@;&F=;=?=&N@&8=F&PAFP=FH&@F<=&@FH&@;&A;F<?JP@;<=F&:8<=FH&Q:?:&<=9:?&:8&:A?@&
8AK?@ & cRA@;<= & I & Q@?9JFAG;B & I & @; & A;F<?JP@;<=F & K:S=FH & Q:?: & <=9:? & N@;<?= & N@ & J;&
?@9A;<=&c:8>J;=F&N@&RA@;<=&P:N@?:&I&9J@?N:B5&

N"#$3-,()+&+,D(
$8>9@EK:897>*I:*M=:897

!YA@;<=&P:N@?:(&
!&;$%.,%1&)"&5*+3&=&NJ89@F
!&/;F<?JP@;<=F&N@&8@;>~@<:&N=K8@(&'%HI(H&+7*!*/J%&I&3!$3&=&+!3/3!(3
!&83!(%/.1%
!YA@;<=&P@<:8(
!&K!3/5",%1&$%!#%1
!a

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!&83!(",%1&cN@&R:?A=F&<:P:W=F&I&N@&F=;AN=&PmF&FJ:R@&^J@&8:F&<?=PQ@<:FB
!&4%+%'.+7"&c:;<@9@F=?&N@8&<?=PKG;B

$8>9@EK:897>*I:*AE:@I5
+T %E:@I5*G@795I5,
! 2*3$%&)%&'!%++*3&cN@&K?:h=H&Q:?:&<=9:?&F=K?@&@8&E=PK?=B
! 2*3$%&)%&#%/'%&cN@&QA@?;:H&Q:?:&<=9:?&:&8:&P:;@?:&N@8&:9<J:8&9@88=B5
UT %E:@I5*LE89:5I5,
! A%L)&c@8&A;F<?JP@;<=&N=PbF<A9=&PmF&APQ=?<:;<@&N@&8:&bQ=9:B
! 2*7."$%( & 9:?:9<@?MF<A9:& N@& #FQ:W:H & :;<@9@F=?: &N@ &8: & >JA<:??:H &LJ@ &J;& A;F<?JP@;<=&
@8A<AF<:&@;&8:&bQ=9:5&)=F&Q?A;9AQ:8@F&8AK?=F&Q:?:&RAEJ@8:&^J@&F@&E:;&9=;F@?R:N=&F=;&
N@8 & FA>8= & [Y/ & I & @F<m; & LA?P:N=F & Q=? & )JMF & N@ & $A8m;H & )JMF & N@ & +:?Rm@hH & %8=;F= & N@&
$JN:??:H&,A@>=&3AF:N=?y
! M.*,%!!%( & PmF & Q@^J@W: & ^J@ & 8: & :9<J:8 & I & 9=; & 9J:<?= & G?N@;@F & N@ & 9J@?N:FH & 9JI=&
?@Q@?<=?A=&@?:&Q:?@9AN=&:&8:&RAEJ@8:&=&@8&8:UN5&):&<:K8:<J?:&Q:?:&@F<@&A;F<?JP@;<=&@F&
PmF&F@;9A88:&^J@&8:&N@&bF<@&U8<AP=5
! >!5%

$8>9@EK:897>*I:*9:AC5I7
!

!
!
!

N!#%(3&)"&*#$"1*%(&,J?:;<@&@8&.@;:9APA@;<=H&@F<@&A;F<?JP@;<=&F@&@;?A^J@9AG&9=;&
;J@R=F&?@>AF<?=F&I&J;&<@?9@?&<@98:N=&P:;J:85&%&FJ&R@hH&FJ&@D<@;FAG;&88@>G&:&8:F&9J:<?=&
=9<:R:F5&#;&#FQ:W:&N@F<:9:;&8:F&9=PQ=FA9A=;@F&Q:?:&G?>:;=&N@&%;<=;A=&N@&C:K@hG;H&
4?:;9AF9=&1:8A;:Fy
N!#%(3&53!,%,*<3&=&N@&P:;=(&1J&<APK?@&@?:&PJI&:>JN=&N@KAN=&:&8:&9=?<@N:N&N@&FJF&
<JK=F5&#8&LJ@88@&F@&:99A=;:&9=;&J;&P:;=&PA@;<?:F&9=;&8:&=<?:&F@&<:W@&@8&<@98:N=5&1@&
J<A8Ah:?=;&E:F<:&KA@;&@;<?:N=&@8&FA>8=&[Y&@;&Q?=9@FA=;@F&?@8A>A=F:FH&I&PUFA9:&N@&9:88@5&
N!#%(3 & 531*,*<3& = & ?@:8@S=( & )8:P:N= & :FM & Q=?^J@ & @?: &;@9@F:?A= & Q=F:?8= & F=K?@ & J;:&
P@F:&=&J;&PJ@K8@&Q:?:&Q=N@?&<=9:?8=5&1@&J<A8Ah:K:&@;&8:&PUFA9:&N@&9mP:?:&I&N@&9=?<@&
I&<:PKAb;&@;&Q?=9@FA=;@FH&FJKAN=&:&J;&9:??J:S@&=&@;&:;N:F
8$%<*+3!)*3(&A;F<?JP@;<=&N@&9J@?N:F&Q@?9J<AN:F5&3?@F@;<:&8:&Q=FAKA8AN:N&N@&>?:NJ:?&
8:&A;<@;FAN:N&N@8&F=;AN=&I&FJ&F=;=?AN:N&@F&NJ89@&I&P@8:;9G8A9:5&#F<@&A;F<?JP@;<=&LJ@&
?@8@>:N=&:&J;&F@>J;N=&Q8:;=&NJ?:;<@&@8&`:??=9=H&NJ?:;<@&@8&9J:8&<=PG&J;&P:I=?&
Q?=<:>=;AFP=&@8&+$%<"+J(5
8$%<"O & 8$%<*+C/'%$3 & 3 & 8$%<"+J(( & A;F<?JP@;<= & N@ & 9J@?N:F & QJ8F:N:F & P@NA:;<@&
P@9:;AFP=&N@&<@98:N=H&FJ&F=;AN=&@F&PmF&LJ@?<@&^J@&@8&N@8&98:RA9=?NA=H&Q@?=&:Q@;:F&
QJ@N@&NAL@?@;9A:?&P:<A9@F5&3:?:&Q?=NJ9A?&9:PKA=F&N@&<APK?@&=&A;<@;FAN:NH&F@&R:8@&N@&
?@>AF<?=FH&Q@N:8@F&I&N=F&<@98:N=F5&":PKAb;&F@&8@&9=;=9@&9=P=&+$%<"H&+$%<*+C/'%$3&=&
7%!51*+73!)H&N@Q@;NA@;N=&N@&8=F&Q:AF@F5
615*(",%& &I &2*!#*(%$(&1@&<?:<:&N@&98:R@9A;@F&Q@^J@W=FH&Q=?<m<A8@F&cQ=?&8=&<:;<=H&N@&
9J@?N:&QJ8F:N:BH &N@&L=?P:&?@>J8:?&I&N@&J;&F=8=&?@>AF<?= &9=;&J;&<@98:N=&N@&J;:F&
9J:<?= & =9<:R:F5 & #8 & RA?>A;:8 & :89:;hG & FJ & :Q=>@= & @; & 8: & bQ=9: & AF:K@8A;: & A;>8@F:5 & 1J&
;=PK?@&Q?=RA@;@&Q?=K:K8@P@;<@&N@8&E@9E=&N@&^J@&@?:&<=9:N=&L?@9J@;<@P@;<@&Q=?&
8:F & N=;9@88:F & N@ & 8: & :8<: & :?AF<=9?:9A: & A;>8@F:5 & #8 & ;=PK?@ & N@ & @FQA;@<: & Q?=9@N@ & N@8&
P@9:;AFP=&N@&:?:W:?&8:&9J@?N:&9=;&J;:&QU:&=&@FQA;:5&#8&9=PQ=FA<=?&A;>8bF&PmF&
APQ=?<:;<@&Q:?:&@F<@&<AQ=&N@&<@98:N=F&@F&gA88A:P&`I?N5

!6

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

48:J<:F&N@&QA9=

48:J<:F&<?:R@F@?:F

`:S=;@F

9?=P=?;=F

9=?;@<:F&

F:9:KJ9E@F

RA=8:F

8:UN@F&I&>JA<:??:F

C8:RA9=?NA=F

G?>:;=&Q=FA<AR=

G?>:;=&N@&A>8@FA:

RA?>A;:8&A;>8bF

VO

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

a"#$M+-1(2$/)2*-=1.)*(&.2

3:J8:<A;:P@;<@&F@&R:&:89:;h:;N=&J;:&A;N@Q@;N@;9A:&@;&8:&9=PQ=FA9AG;&N@&L=?P:F&
A;F<?JP@;<:8@F5&1@&@F<:K8@9@;&8=F&FA>JA@;<@F&<AQ=F&N@&9=PQ=FA9A=;@F(
" ,@?AR:N:F&N@&P=N@8=F&R=9:8@F(&+%(P3(%O&!*+"!+%!"Q
" YA;9J8:N:F&:&8:&N:;h:(&1.*,"
" ,@&9:?m9<@?&APQ?=RAF:<=?A=(&5!"$.)*3O&,3+%,%O&;%(,%1J%O&#$31%O&,*"(,3Q
" Y:?A:9A=;@F&I&NAL@?@;9A:F5
?()b+)(( & N@?AR:N: & N@ & 8: & 9E:;F=; & L?:;9@F:H & Q=NM: & F@? & N@ & N=F & <AQ=F( & Q:?:&
A;F<?JP@;<=&F=8AF<:&c8:UN&=&<@98:N=B&=&Q:?:&9=;SJ;<=&c8:F&PmF&L:P=F:F&LJ@?=;&8:F&N@&8=F&
0:K?A@8AH&9:?:9<@?Ah:N:F&Q=?&Q?@F@;<:?F@&Q:?:&N=F&=&PmF&>?JQ=FH&Q?=NJ9A@;N=&@L@9<=F&N@&
@9=H&9=;<?:F<@F&N@&<@D<J?:F&I&?@Q@<A9A=;@FB5
Y/'.-'(-.(&QA@h:&N@?AR:N:&N@&P=N@8=F&R=9:8@F&N@&8:&^J@&F@&Q=NM:&@;9=;<?:?&N=F&
R:?A@N:N@F( &!*+"!+%!" & 73/3;I(*+3H & ^J@ & Q?@F@;<: & R:?A=F & <@P:F & : & 8: & P:;@?: & N@ & J;:&
APQ?=RAF:9AG;H&I&@8&!*+"!+%!"&53$*;I(*+3H&N@&9:?m9<@?&9=;<?:QJ;<MF<A9=5
E=/*.@&8:&N:;h:&@F<:K:&PJI&@D<@;NAN:&I&@?:&PJI&Q=QJ8:?&NJ?:;<@&@8&.@;:9APA@;<=5&
1@ & @FQ@?:K: & ^J@ & 9J:8^JA@? & Q@?F=;: & @NJ9:N: & LJ@?: & J; & @DQ@?<= & K:A8:?M;5 & ,@ & :EM & 8:&
Q?=8AL@?:9AG;&N@&N:;h:F&A;F<?JP@;<:8@F&Q:?:&8:UNH&A;F<?JP@;<=F&N@&<@98:N=&=&9=;SJ;<=FH&
^J@&;=&@?:;&APQ?=RAF:N:FH&FA;=&^J@&F@&@F9?AKM:;&@;&<:K8:<J?:F&=&8AK?=F&I&LJ@?=;&@NA<:N:F&@;&
:;<=8=>M:F&APQ?@F:F&Q=?&@NA<=?@F&9=P=&3@<?J99A&=&%<<:A>;:;<5&1J&PAFAG;&@?:&8:&N@&:P@;Ah:?&
?@J;A=;@F&F=9A:8@F&9@8@K?:N:F&@;&E=>:?@F&N@&8:&KJ?>J@FM:&=&@;&8:F&9=?<@F&:?AF<=9?m<A9:F5
): & FJA<@ &F@&N@LA;@& 9=P= & J;: & F@?A@&N@& P=RAPA@;<=F &A;F<?JP@;<:8@F& PmF&= &P@;=F&
NAL@?@;<@FH&^J@&F@&A;<@?Q?@<:K:;&9=P=&J;:&F=8:&=K?:5&C:FA&FA@PK?@&8=F&P=RAPA@;<=F&@?:;&
K?@R@F&I&9=;<?:F<:;<@F5&#8&=?A>@;&N@&8:&FJA<@&@F<m&@;&8:&PUFA9:&N@&N:;h:&^J@&@PQ:?@S:&N=F&
N:;h:F&9=;<?:F<:;<@Fz&J;:&8@;<:&I&N@F8Ah:;<@&9=;&=<?:&PmF&F:8<:?A;:5&):&Q?AP@?:&@;&9=PQmF&
KA;:?A= & I & 8: & F@>J;N: & @; & <@?;:?A=5 & #S@PQ8=F & N@ & N:;h:F & ^J@ & L=?P:; & Q:?<@ & N@ & 8: & FJA<@(&
5%<%(%R#%$$%!)%H&%$$"/%()"R+3.!%(,"Q&<=N:F&@F<:F&N:;h:F&<@;N?m;&FJ&9=;<A;JAN:N&@;&8:&
FJA<@&K:??=9:5
0(2 $ 4+-1(2 $ 5. $ '(-c'*.- $ /1;-+:/2(*+-/+T& ,J?:;<@ & @8 & FA>8= & [Y/ & E:KM: & N=F&
P:;@?:F & N@ & APQ?=RAF:?( & J;: & @?: & :N=?;:;N= & 8: & P@8=NM: & N:N: & I & =<?: & @?: & :W:NA? & Q:?<@F&
9=;<?:QJ;<MF<A9:F&&:&J;:&P@8=NM:&N@&9:;<=&88:;=H&FA@;N=&bF<:&U8<AP:&8:&PmF&APQ=?<:;<@5&,@&
<=N:F&8:F&=K?:F&N@&9:?m9<@?&APQ?=RAF:<=?A=&c5!"$.)*3O&,3+%,%O&"(,3(%+*I(O&;%(,%1J%O&#$31%O&
,*"(,3yB & N@F<:9:P=F & 8: & <=9:<: & c= &,3++%,%B & Q=? & FJ & APQ=?<:;9A: & NJ?:;<@ & @8 & FA>8= & [Y/5&
3?A;9AQ:8P@;<@&9=PQJ@F<:F&Q:?:&8:UN&I&Q=F<@?A=?P@;<@&F=K?@<=N=&Q:?:&G?>:;=H&@?:;&QA@h:F&
K?@R@FH & PJI & Q:?@9AN:F & : & 8=F &!*+"!+%!"1 & 73/3;I(*+31& :;<@?A=?P@;<@ & N@F9?A<=FH & N=;N@&
Q?AP:K:;&;=<:F&Q@N:8@F&P:;<@;AN:F&I&Q:F:S@F&RA?<J=FMF<A9=F5
_(-/('/+).2 $ B $ 5/4.-.)'/(2,& ):F & R:?A:9A=;@F & N@8 & FA>8= & [Y/ & F@ & K:F:; & @; & J;:&
:?P=;M: & 9=;F<:;<@ & F=K?@ & J; & K:S= & @; & =F<A;:<= & cJ; & @S@PQ8= & F@?M: & 8: & 9:;9AG; & Q=QJ8:?&
M.S!)%/"&$%1&<%+%1B&=&N@8&<AQ=&N@&Q@?LA8&P@8GNA9=H&FA&@8&K:S=&N@&N:;h:&:Q:?@9@&SJ;<=&:&J;:&
P@8=NM: & Q=QJ8:?5 & #; & #FQ:W: & @F<@ & <AQ= & N@ & 9=PQ=FA9A=;@F & F@ & 8:F & 88:P= & NAL@?@;9A:F & I&
:89:;h:?=; & >?:; & Q?=LJFAG; & 9=; & 8:F & =K?:F & Q:?: & 8:UN & N@ & #;?A^J@ & Y:8N@??mK:;= & I & 8:F&
@D9@Q9A=;:8@F&9=PQ=FA9A=;@F&Q:?:&G?>:;=&N@&%;<=;A=&N@&C:K@hG;5

V'

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

'&()*X,*&-*^)//.%.*$"1'/O(&"')'5&/+".*,fCC/\+&2&C%.%C"#.-1"/C%1
!5&)*1&/+1".f$#+"*1&#+&#)&`%..*C*
V5&)*1&C.#%,*.#1&,#)&C*+C/#."*&
X5&4*.$%1&/+1".f$#+"%)#1
X5'54=?P:F&N@8&Q?AP@?&K:??=9=
X5!53@^J@W:F&L=?P:F&A;F<?JP@;<:8@F
X5V54=?P:F&=?^J@F<:8@F
Z5&#)&`%..*C*&#+&)*1&3%-1#1&#f.*3#*1

!"#$<)*-+5=''/>)$B$'(-('*.-D2*/'(2Q

#8&<b?PA;=&K:??=9=&@PQ@hG&:&J<A8Ah:?F@&Q:?:&N@F9?AKA?&8:F&<@;N@;9A:F&@DJK@?:;<@FH&
N@9=?:<AR:FH&?@9:?>:N:F&I&@DQ?@FA=;AF<:F&N@8&:?<@&N@8&[Y//H&N@&L=?P:&Q@I=?:<AR:5&#8&E=PK?@&
N@8 & `:??=9= & RAR@ & J;: & 9?AFAF & @9=;GPA9: & I & @FQA?A<J:8H & N@KAN= & : & J;: & ?@9@FAG; & @9=;GPA9:&
APQ=?<:;<@&I&:&8:&NARAFAG;&N@&8:&/>8@FA:&@;&Q?=<@F<:;<@F&I&9:<G8A9=F5&3=?&@88=H&@;&8:F&:?<@F&F@&
N:&J;:&LJ@?<@&<@;N@;9A:&:&8:&@DQ?@FAG;&N@&8:&?@:8AN:N&@D:>@?m;N=8:&=&N@L=?Pm;N=8:5&#;<?@&
']OO&I&'_ZO&F@&L=?<:8@9AG&@8&Q=N@?&N@&8=F&P=;:?9:F&9=;&@8&:KF=8J<AFP=H&9JI:F&9=?<@F&LJ@?=;&
APQ=?<:;<@F&9@;<?=F&N@&9J8<J?:&PJFA9:8H&Q:?:&P=F<?:?&FJ&=F<@;<:9AG;&I&P:>;ALA9@;9A:5&):&
/>8@FA: & <:PKAb;&8: &Q?=P=9A=;G &9=;&J;: &APQ=?<:;9A: &P@;=?H&9=P= &P@NA= &Q:?: &:<?:@?& I&
F@NJ9A?&:&8=F&LA@8@F5&
):&F=9A@N:N&@F<:K:&NARANAN:&@;&<?@F&@F<:N=F(&N=F&9=;&Q?ARA8@>A=FH&@8&98@?=&I&8:&;=K8@h:H&
I&@8&@F<:N=&88:;=H&&@D98JAN=&N@&8:&Q:?<A9AQ:9AG;&Q=8M<A9:5&):&>?:;NA=FAN:N&N@8&&K:??=9=&@D:8<:&
@8 & Q=N@? & I & ?A^J@h: & N@ & ?@I@F & I & ;=K8@Fz & A8JF<?: & 8:F & R@?N:N@F & N@ & 8: & L@ & I & =L?@9@ & J; & P:?9=&
FJ;<J=F=&Q:?:&8:F&9@8@K?:9A=;@F&8A<U?>A9:F&N@&8:&A>8@FA:5&
)=F & 9=PQ=FA<=?@F & @ & A;F<?JP@;<AF<:F & ;= & @?:; & A;N@Q@;NA@;<@FH & FA;= & ^J@ & @F<:K:;&
8A>:N=F&:&8:&:?AF<=9?:9A:&Q=?&?@8:9A=;@F&N@&P@9@;:h>=5&1A&N@Q@;NM:;&N@&J;:&9AJN:N&=&N@&J;:&
A>8@FA:&>=h:K:;&N@&?@8:<AR:&8AK@?<:N&I&F:8:?A=F&FJF<:;9A=F=Fz&FA&@F<:K:;&:8&F@?RA9A=&N@&J;&
;=K8@&@?:;&9=;FAN@?:N=F&J;=F&8:9:I=F&I&<@;M:;&=<?:F&<:?@:F5&):&PUFA9:&=9JQ:K:&J;&8J>:?&
Q?@@PA;@;<@&@;&8:&RAN:&F=9A:8&I&<=N:&Q@?F=;:&9J8<:&N@KM:&&:Q?@9A:?8:&@&A;<@?Q?@<:?8:5&&
% & LA;:8@F & N@8 & .@;:9APA@;<=H & F@ & :K?@ & J;: & ;J@R: & @<:Q: & @; & 8: & ^J@ & F@ & Q?@9AF:; & 8=F&
Q?A;9AQA=F&KmFA9=F&F=K?@&8=F&^J@&F@&:Q=I:?m&8:&PUFA9:&E:F<:&bQ=9:&?@9A@;<@(
'5 8:&<=;:8AN:N&FJF<A<JI@&:&8:&P=N:8AN:N&I&F@&N@F:??=88:&8:&:?P=;M:
!5 F@ & @F<?J9<J?:;& 8:F& >?:;N@F& L=?P:F& PJFA9:8@F& I& >b;@?=F( & GQ@?:H &=?:<=?A=H & 9:;<:<:H&
FJA<@H&F=;:<:H&9=;9A@?<=555
V5 8=F&A;F<?JP@;<=F&:;<A>J=F&F=;&FJF<A<JAN=F&Q=?&8=F&:9<J:8@F
X5 8:&=?^J@F<:&<=P:&9J@?Q=
Z5 :Q:?@9@&8:&;=9AG;&N@&9=;9A@?<=&QUK8A9=&@;&<@:<?=F5
#8&`:??=9=&c']OO7'_ZOB&Q?@F@;<:&J;:&?@8:<AR:&J;AN:N&@;&@8&<A@PQ=&I&@;&@8&@FQ:9A=H&
APQ=;@&J;&9GNA>=&N@&@DQ?@FAG;&@;&<=N=F&8=F&Q:MF@F&^J@&E:9@&^J@&8:&PUFA9:&F@:&J;&8@;>J:S@&
J;AR@?F:85&):F&9:?:9<@?MF<A9:F&N@&8:&PUFA9:&K:??=9:&F=;(&
'5 fF=&N@&8=F&NAL@?@;<@F&J@EL7>*9HKF@=A7>&9=;<?:F<m;N=8=F&cF=8AF<:{9=?=&J&=?^J@F<:BH&
N:;N=&9=P=&?@FJ8<:N=&@8&PJ8<A9=8=?AFP=&@;&8:&@DQ?@FAG;5&1@&?@8:9A=;:&9=;&@8&@F<A8=&
9=;9@?<:N=H & @;& @8 & ^J@ & R:?A:F & R=9@F & F@ & =I@;& : & 8: & R@h & FA; & Q@?N@?& FJ & Q@?F=;:8AN:NH&
=QJ@F<=&:&8:&E=P=>b;@:&Q=8AL=;M:&N@8&.@;:9APA@;<=5&
!5 1@ & APQ=;@ & @8 &>=>9:K5 * 5@K?8=A7H & R@?<A9:8 & J & E=P=LG;A9=H & FA; & :K:;N=;:? & J;&
9=;<?:QJ;<=&?@>AN=&:E=?:&Q=?&8:&<=;:8AN:N5
V!

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

V5 1@&A;<@;FALA9:&8:&GE:@`5*:K7A=785C*I:*C5>*L5C5F@5>&9=;&@8&@F<A8=&?@9A<:<AR=H&:?A=F=&
I&:?A:5
X5 1@ & N:; & N=F &<AQ=F& N@ &LEC>5A=?8( &J;= & PJI& P:?9:N: &I &P@9m;A9:H &I &=<?: & 8AK?@ & FA;&
K:<J<:5
Z5 %5@[A9:@& >?:;NA=F=H & >A>:;<@F9=H & 9=8=F:8H & N?:Pm<A9=5 & 0JF<= & Q=? & 8= & L:F<= & I&
P=;JP@;<:8H &Q=?&8= & @D9@FAR=H& @DQ8=<:;N= & :8 &PmDAP=& 8=F&?@9J?F=F& ^J@&=L?@9@; & @8&
8@;>J:S@&PJFA9:8H&8:F&R=9@F&I&8=F&A;F<?JP@;<=F5
]5 #8&SJ@>=&N@ &A789@5>9:>& P@NA:;<@&Q8:;=F&F=;=?=F&cF=8AF<:{<J<<ABH&<@PQ=F&8@;<=F&I&
?mQAN=FH & F@99A=;@F & E=P=LG;A9:F & I & 9=;<?:QJ;<MF<A9:FH & ?@>AF<?=F & >?:R@F & I & :>JN=F&
9=;L?=;<:N=FH&NA;mPA9:&N@&<@??:h:F&cN@&QA:;=&:&LJ@?<@&FA;&<?:;FA9AG;B555
_5 1@&NAF<A;>J@&J;&C:8JE5N:&A;F<?JP@;<:8&N@&=<?=&R=9:85
a5 1J?>@&@8&F5N7*A789=8E7H&J;&FAF<@P:&N@&;=<:9AG;&@;&@8&^J@&F@&@F9?AK@&8:&P@8=NM:&N@&
8:&R=h&FJQ@?A=?&I&@8&K:S=&c<=9:N=&Q=?&J;=&=&PmF&A;F<?JP@;<=FH&^J@&Q=NM:;&F@?&@8&
98:R@H&G?>:;=&=&8:UNB5&$@NA:;<@&9AL?:F&F@&A;NA9:&8=F&:9=?N@F&N@&8:F&R=9@F&A;<@?P@NA:F&
^J@&APQ?=RAF:&@8&@S@9J<:;<@&N@&<@98:N=&=&8:UN5
65 ):&PUFA9:&9J@;<:&9=;&8:&q':7@H5*I:*C7>*5G:A97>rH&N@&,@F9:?<@FH&^J@&E:K8:&N@&F@AF&
L=?P:F&N@&8:&@P=9AG;(&:NPA?:9AG;H&:P=?H&=NA=H&N@F@=H&:8@>?M:&I&<?AF<@h:5&%<:;:FA=&
iA?9E@?&@DQ=;@&@F<:F&:F=9A:9A=;@F&@;<?@&:L@9<=&I&PUFA9:(
! %8@>?M:( &P=N= &P:I=?H &<@PQ=&?mQAN=H&A;<@?R:8=F&9=;F=;:;<@F &I&>?:;N@FH&
<@FA<J?:&:>JN:&I&K?A88:;<@
! "?AF<@h:( & P=N= & P@;=?H & <@PQ= & 8@;<=H & A;<@?R:8=F & Q@^J@W=F & c<=;= & I&
F@PA<=;=BH&<@FA<J?:F&>?:R@F&I&=F9J?:FH&NAF=;:;9A:F5
'O5 %8 &A589589:& F@ & 8@ & @DA>M: & P:I=? & 9:Q:9AN:N & @DQ?@FAR: & I & :>A8AN:NH & Q=? & 8= & ^J@ & F@&
Q?@L@?M: &PmF& :& 8=F&9:F<?:<A& ^J@& :&8=F& L:8F@<AF<:F5 &#8 & ;UP@?= & N@& R=9@F &N@&J;& 9=?=&
@98@FAmF<A9=&:JP@;<:&cVO7VZ&9:;<:;<@FB5
''5 fF=&N@8 &L7C=A7@5C=>K7H&@D<@;NAb;N=F@&@8&mPKA<=&N@&8:&R=h&EJP:;:&cF=;AN=F&PmF&
:>JN=F&I&>?:R@FB&I&F@&JF:;&9=;<?:F<@F&I&@9=F5
'!5 3?=LJ;N= &I@5K59=>K7H & ^J@ & 88@R: & : & J; & :<?@RAN= & JF= & N@ & 8:F & NAF=;:;9A:FH&
=?;:P@;<=FH&9?=P:<AFP=F&I&P@8=NM:F&@;F=?<AS:N:FH&88@;:F&N@&:N=?;=F5
'V5 #F&8:&bQ=9:&N@8&M=@9E7>=>K7&A;F<?JP@;<:8&=&R=9:85&
3@?A=NAh:9AG;&N@8&`:??=9=
'5 &^5@@7A7 * ':KL@587& c+Xde_+fVe6( & NAL@?@;9A:9AG; & N@ & 8: & PUFA9: & R=9:8 & @&
A;F<?JP@;<:85&&):F&=K?:F&FA>J@;&<@;A@;N=&:U;&J;:&NJ?:9AG;&9=?<:5
!5&^5@@7A7*(:I=7*c+fVe_+fde6(&):&bQ=9:&N@&8:&GQ@?:&I&N@&8:&9:;<:<:H&I&9=;&@88:F&8:&
NAF<A;9AG;&@;<?@&:?A:H&:?A=F=&I&?@9A<:<AR=5
V5* ^5@@7A7 * '5@IH7 * c+fde_+gXe6( & 8:F & L=?P:F & :N^JA@?@; & P:I=?@F & NAP@;FA=;@FH&
:Q:?@9@&@8&@F<A8=&9=;9@?<:;<@5&):&PUFA9:&A;F<?JP@;<:8&N=PA;:&:&8:&R=9:85&

7"#$0+2$/)2*-=1.)*+2$.)$.&$L(--+'+
%8>J;=F&A;F<?JP@;<=F&RA@?=;&FJF&U8<AP=F&P=P@;<=F&N@&@FQ8@;N=?&c8:UNH&RA=8:&N@&
>:PK:H&98:R@BH&=<?=F&@R=8J9A=;:;&cRA=8M;B&I&:8>J;=F&N@&8=F&:9<J:8@F&;:9@;&c98:?A;@<@H&L:>=<H&
QA:;=L=?<@B5 & )=F & A;F<?JP@;<=F & F@ & ?@J;M:; & @; & 9=;9A@?<=FH & APQ@?:;N= & :8 & Q?A;9AQA= & @8&
A;<@?9:PKA=&@;<?@&:^J@88=F&9=;&8:&PAFP:&<@FA<J?:5&T:F<:&P@NA:N=F&N@8&[Y///&8=F&:J<=?@F&;=&
@FQ@9ALA9:;&8=F&A;F<?JP@;<=FH&A;NA9:;N=&FG8=&@;&8:&Q:?<A<J?:&@8&@F^J@P:&P@8GNA9=&>@;@?:8&
F=F<@;AN=&Q=?&J;&K:S=&9AL?:N=5&)=F&A;F<?JP@;<AF<:F&N@<@?PA;:K:;&@8&<@PQ=H&:N=?;:K:;&8:&
P@8=NM:H&R:?A:K:;&8:F&?@Q@<A9A=;@FH&?@F<:J?:;&8:&NA;mPA9:&I&8:&:?<A9J8:9AG;H&?@:8Ah:;&@8&K:S=&
I&@8A>@;&8=F&A;F<?JP@;<=F5&%N@PmF&N@&8:F&L=?P:F&N@&9mP:?:H&F@&:>?JQ:K:;&@;&qK:;N:Fr&N@&
A;F<?JP@;<=F & N@ & 8: & PAFP: & L:PA8A:5 & #8 & 9=PQ=FA<=? & NA?A>M: &FJ & =K?: & N@FN@ & FJ & 8J>:? & 9=P=&
A;<b?Q?@<@&N@&98:R@9M;&=&9=P=&Q?AP@?&RA=8M;5
VV

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

F"#$0+2$'-.(5+-.2$5.&$'+)'/.-*+"
1=;&J;:&F@?A@&N@&9=PQ=FA<=?@F&^J@&RAR@;&@;&8=F&<?@F&>?:;N@F&9@;<?=F&N@8&;=?<@&N@&
/<:8A:H &(?I:85B * ^7C78=5 * D * P:8:A=5H & 8=F & ^J@ & N@F:??=88:; & @8 &+3(+"!,35 & 3:?: & @88= & LJ@&
Q?@9AF= & @8 & RA?<J=FAFP= & RA=8A;AF<M9= & I & 9=;<:? & 9=; & 8=F & P:>;MLA9=F & A;F<?JP@;<=F & N@ & 8=F&
9=;F<?J9<=?@F&N@ &%@:K7855&,@&8=F&<?@F&9@;<?=FH&@8&PmF&APQ=?<:;<@&LJ@H&FA;&NJN:H&@8&N@&
^7C78=5& :&<?:RbF&N@&8=F&PUFA9=F&N@&8: &*#$"1*%&)"&4%(&T",!3(*35&#F &'7KK5>7*P=95C=& @8&
PmF&APQ=?<:;<@&N@&@88=Fz&A;P@NA:<:P@;<@&FJ?>@;&=<?=F&N=F( &)@A58J:C7*%7@:CC=& c']ZV7
'_'VBH&^J@&9=PQ=;N?m&@;&.=P:H&I&0=E>:LL:*'7@:CC=&c']Za7'_O6BH&@;&`=8=;A:5
1A;&N@FP@?@9@?&@8&<?:K:S=&N@&8=F&:;<@?A=?@FH&Q=N@P=F&N@9A?&^J@&@8&PmF&APQ=?<:;<@&
9=PQ=FA<=?&A<:8A:;=&N@&PUFA9:&A;F<?JP@;<:8&@F&)8978=7*P=M5CI=&c']_]7'_X'BH&J;=&N@&8=F&
>@;A=F&PmF&>?:;N@F&N@8&K:??=9=&R@;@9A:;=5&1:9@?N=<@H&>?:;&RA=8A;AF<:H&9=PQ=;@&:N@PmF&
;JP@?=F:F&GQ@?:F5&.@Q?@F@;<:&8:&9J8PA;:9AG;&N@8&K:??=9=&A;F<?JP@;<:8&A<:8A:;=z&@;<?@&FJF&
=K?:F&E:I&^J@&N@F<:9:?&FJF&9=8@99A=;@F&N@&9=;9A@?<=F(&AB"1,!3&%!/I(*+3H&A%&1,!%<%#%(P%H&
UU&+*/"(,3&)"$$%&%!/3(J%&"&)"$$%&*(<"(P*3("H&^J@&9=;<A@;@&8:F&L:P=F:F&CJ:<?=&@F<:9A=;@F5&
):F&9J:8AN:N@F&N@&FJ&PUFA9:&F=;(
! `@88@h:&N@&8=F&<@P:F5
! C8:?AN:N&N@&FJ&L=?P:5
! YA<:8AN:N&?M<PA9:5
#8 & 9=;9A@?<= & <JR= & J;: & LJ@?<@ & Q?@F@;9A: & @; & @8 & ?@F<= & N@ & #J?=Q:H & @FQ@9A:8P@;<@ & @;&
%8@P:;A:H&N=;N@&R7<588*1:F5>9=58*^5A<&c']aZ7'_ZOB&88@RG&:&FJ&9J8P@;&L=?P:F&9=P=&8:&
1.*,"H&I&8=&PAFP=&FJ9@NAG&9=;&@8 &+3(+"!,3H&:8&9=PQ=;@?&8=F&F@AF&L:P=F=F &83(+*"!,31&)"&
9!%()"'.!#3H&N=;N@&?@:8Ah:&J;:&:Q=?<:9AG;&FJF<:;9A:8&A;<@>?:;N=&@;&@8 &+3(+"!,3&#!3113&
=<?=F & A;F<?JP@;<=F&N@&RA@;<=H &Q=?&8= &^J@ &@8 &9=8=?&@F&PJ9E= &PmF&?A9=H&N@&L=?P:&^J@& @8&
#!3113&FA>J@&FA@;N=&8:&9J@?N:H&Q@?=&@;&@8&+3(+"!,*(3&F@&:W:N@;&<?=PQ@<:H&L8:J<:H&=K=@H&@<95&
*<?=&9=PQ=FA<=?&:8@Pm;&N@F<:9:N=&@;&@F<:&PUFA9:&@F&':C:K5885
#;&/;>8:<@??:&N@F<:9:;&8:F&:Q=?<:9A=;@F&N@ &Zh8I:CT&#FQ@9A:8P@;<@&FJF&83(+"!,31&
13$J1,*+31&5%!%&I!#%(3&E&3'3"H&N@&>?:;&K@88@h:5&T;N@8&@F9?AK@&:N@PmF&<=N:&J;:&F@?A@&N@&
=K?:F&Q:?:&9@?@P=;A:F&9=?<@F:;:FH&9=P=&8:&DL1*+%&%+.S,*+%H&9=PQJ@F<:&Q:?:&J;&Q:F@=&Q=?&
@8&"mP@FAFz&=&DL1*+%&5%!%&$31&;."#31&%!,*;*+*%$"1H&Q:?:&9=;P@P=?:?&8:&3:h&N@&%^JAF>?m;5

N"#$M+-1(2$/)2*-=1.)*(&.2
WT+T_*47@K5>*=8>9@EK:895C:>*I:C*L@=K:@*F5@@7A7

T:I&L=?P:F&^J@&F=;&E@?@;9A:&N@8&FA>8=&[Y/&^J@&9=;RAR@;&9=;&8:F&;J@R:F&F=K?@&<=N=&
@; & @8 & Q?AP@? & K:??=9=5 & ):F & :;<A>J:F & @F<m; & K:F:N:F & @; & 8: & APA<:9AG; & c?A9@?9:?@H & 9:;h=;:H&
L:;<:FM:H&9:Q?A99A=BH&F@99A=;@F&9=;<?:F<:;<@F&cF=;:<:FBH&8:F&?@:8Ah:N:F&:&Q:?<A?&N@&J;&K:S=&
N:N=&c9E:9=;:H&Q:FF:9:>8A:BH&8:F&K:F:N:F&@;&8:&APQ?=RAF:9AG;&c<=9:<:H&Q?@8JNA=B&I&N:;h:F5&

WTUT_*3:\E:S5>*G7@K5>*=8>9@EK:895C:>
3@:CEI=7*D*97A595
1=;&L=?P:F&Q:?:&<@98:&9:?:9<@?Ah:N:F&Q=?&J;:&P@8=NM:&9:Q?A9E=F:&I&@DJK@?:;<@&9=;&
8: & ^J@ & @8 & @S@9J<:;<@ & RA?<J=F= & N@PJ@F<?@ & FJ & E:KA8AN:N & @; & 8=F & <@98:N=F & I & Q@N:8@F5 & %8&
A;N@Q@;NAh:?F@&8:F&F@99A=;@F&@;&9=;<?:QJ;<=&N@&8:&<=9:<:&FJ?>A?m&8:&LJ>:5&#8&Q?@8JNA=&<A@;@&
J;&@F<A8=&PmF&8AK?@&I&E=PGL=;=5&&
178595*F5@@7A5
VX

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

1A>;ALA9:&qPUFA9:&Q:?:&F@?&F=;:N:r5&1J?>@&:8&JF:?& &F@?A@F&N@&N:;h:F&9=;<?:QJ@F<:F&
^J@&;=&F@&K:A8:;H&FA;=&^J@&FG8=&F@&<=9:;5&":PKAb;&N@?AR:&N@&8:&q9:;h=;:&Q:?:&F=;:?rH&QA@h:&
Q=8ALG;A9:&R=9:8&Q@?=&A;<@?Q?@<:N:&9=;&A;F<?JP@;<=FH&Q=?&8=&^J@&@F&PmF&RA?<J=F:&I&F@?A:5
1J&@F^J@P:H&=?N@;:N=&Q=?&)@A58J:C7*%7@:CC=B*F@&K:F:&@;&@F<=F&P=RAPA@;<=F&&N@&
N:;h:F(&%88@P:;N@&c>?:R@&I&8@;<=BH&C=??@;<@&c:88@>?=&LJ>:N=BH&j:?:K:;N:&c8@;<=B&I&0A>:&
c:88@>?=BH&9=;<?:F<:;N=&P=RAPA@;<=F&?mQAN=F&9=;&8@;<=F&I&<@D<J?:F&9=;<?:QJ;<MF<A9:F&9=;&
E=P=LG;A9:F5&
!
!

!
!
!

%&Q:?<A?&N@&8:&=K?:&N@&%C5EI=7*(:@ECC7&F@&NAF<A;>J@;&N=F&<AQ=F(&
1=;:<:&N:&9EA@F:(&FJF&P=RAPA@;<=F&;=&88@R:;&;=PK?@&N@&N:;h:&I&@8&9=;<A;J=&8=&E:9@&
J;&G?>:;=5&1@&A;<@?Q?@<:&@;&8:&A>8@FA:5
1=;:<:&N:&9mP:?:(&FJF&P=RAPA@;<=F&FM&88@R:;&;=PK?@&N@&N:;h:&I&@8&9=;<A;J=&8=&E:9@&
J;&98:R@5&1@&N@F<A;:&:8&9=;9A@?<=5&
3=?&@8&;UP@?=&N@&A;F<?JP@;<=FH&F@&NAF<A;>J@;&<?@F&<AQ=F&N@&F=;:<:F(
1=;:<:&:&<?M=&=&<?M=7F=;:<:(&9=;L=?P:N:&Q=?&N=F&A;F<?JP@;<=F&:>JN=F&cN=F&RA=8A;@FB&
I&J;&RA=8=;9E@8=&PmF&@8&9=;<A;J=
1=;:<:&:&NU=(&N=F&A;F<?JP@;<=F&PmF&@8&9=;<A;J=
1=;:<:&F=8MF<A9:&&=&:&F=8=(&J;&A;F<?JP@;<=F&FG8=&cRA=8M;H&L8:J<:H&@<95B&=&:9=PQ:W:N=&
N@&9=;<A;J=5

):&F=;:<:&N@&8:&Q?AP@?:&PA<:N&N@8&FA>8=&[Y//&:FQA?:&@FQ@9A:8P@;<@&:8&RA?<J=FAFP=H&
9=P=&8:F&@F9?A<:F&Q:?:&98:R@&N@&,=P@;A9=&1A5@C599=&I&N@8&Q:N?@&17C:@5&,J?:;<@&@8&F@>J;N=&
K:??=9=H&8:&@F<?J9<J?:&KAQ:?<A<:&N@&9:N:&P=RAPA@;<=&@F&8=&E:KA<J:8z&@;&@8&<@?9@?&K:??=9=H&8=F&
P=RAPA@;<=F&QJ@N@;&F@?&LJ>:N=F&cJ;&U;A9=&<@P:&APA<:N=BH&KA;:?A=F&c%`BH&R:?A:9A=;@F&=&
L:;<:FM:F&cPJI&RA?<J=F:FH&9=;&?mQAN:F&LA>J?:9A=;@FB5
#F<:&L=?P:&F@?m&PJI&9J8<AR:N:&Q=?&8:&#F9J@8:&N@&`=8=;A:H&9JI=&@FQM?A<J&8=&?@9=>@?m&
)@A58J:C7 * %7@:CC=H & ^J@ & <?:F & @F<JNA:? & :^JM & F@ & <?:F8:N:?m & : & .=P:H & N=;N@ & 9=PQ=;N?m&
F=;:<:F&N:&9EA@F:H&<?M=7F=;:<:F&N@&9mP:?:&I&F=;:<:F&Q:?:&RA=8M;H&@;&8:F&^J@&JF:&N=K8@F&I&
<?AQ8@F&9J@?N:F&?mQAN:FH&@F9:8:F&I&:?Q@>A=FH&@<95H&@RA<:;N=&P@?=F&?@Q8A@>J@F&RA?<J=FMF<A9=F&
FA;&SJF<ALA9:?&PJFA9:8P@;<@5&C:N:&P=RAPA@;<=&F@&K:F:&@;&U;A9=&<@P:H&A;N@Q@;NA@;<@&N@&8:F&
FA>JA@;<@F&Q:?<@F&N@&8:&F=;:<:5&#;<?@&FJF&NAF9MQJ8=F&N@F<:9:P=F&:&'T*)CF=878=*D*0=E>:L:*
'7@:CC=& ^J@ & N@F:??=88:?=; & @;=?P@P@;<@ & 8: & <b9;A9: & RA=8A;MF<A9:H & N@F9JK?A@;N= & @8&
RA?<J=FAFP=&:Q?=R@9E:;N=&8=F&P:>;MLA9=F&A;F<?JP@;<=F&N@&8=F&9=;F<?J9<=?@F&N@&C?@P=;:H&
8=F&%P:<AH&1<?:NAR:?A&I&0J:?;@?A5&^5A<&9=PQJF=&F=;:?:F&Q:?:&RA=8M;H&L8:J<:&F=8:H&@<95
178595*F=L5@9=95
%8 & LA;:8 & N@8 & `:??=9=H & 8:F & =K?:F & N@ &)C:>>58I@7 * 1A5@C599=& I & FJ & EAS=H & @8 & RA?<J=F=&
#7K:8=A7*1A5@C599=B& Q:F:;&8:&F=;:<:&N@8&RA=8M;&:8&98:R@5&#F<:&F=;:<:&<:PKAb;&F@&88:P:&
P=;=Q:?<A<:H&Q=?^J@&9=;F<:&N@&J;&P=RAPA@;<=&NARANAN=&@;&N=F&F@99A=;@FH&%&I&`H&^J@&F@&
?@QA<@;H&I&@;&8:F&^J@&@;&8:&Q?AP@?:&F@&88@>:&N@&8:&<G;A9:&:&8:&N=PA;:;<@H&I&@;&8:&F@>J;N:&N@ &
bF<:&:&8:&<G;A9:5&
-5*4EJ5
+:9@&N@8&?A9@?9:?@&I&N@&8:&9:;h=;:&?@;:9@;<AF<:&9=P=&J;:&9=PQ8@S:&9=PQ=FA9AG;&
Q=8ALG;A9:&@;&9=;<?:QJ;<=&N@&J;&F=8=&P=RAPA@;<=H&@F<?J9<J?:N=&F@>U;&@F<@&Q8:;(
'5 ):&@DQ=FA9AG;(&J;:&R=h&Q?@F@;<:&@8&<@P:&=&FJS@<=&^J@H&Q=F<@?A=?P@;<@&=<?:&R=h&&E:9@&
<?:;FQ=?<:N=&:&8:&Zt&FJQ@?A=?&=&:&8:&Xt&A;L@?A=?H&88:P:N=&?@FQJ@F<:5&#8&9=;<?:FJS@<=&@F&
VZ

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

8=&^J@&FJ@;:&9J:;N=&F@&A;A9A:&8:&?@FQJ@F<:&@;&8:&R=h&^J@&N@SG&N@&E:9@?&@8&FJS@<=H&I&
:PK=F&9=;<?:F<:;&?M<PA9:P@;<@5&
!5 #8&N@F:??=88=H&@QAF=NA=&=&NAR@?<AP@;<=(&9J:;N=&@8&FJS@<=&@F&@DQJ@F<=&@;&<=N:F&8:F&
R=9@F&F@&A;A9A:&@F<:&Q:?<@H&^J@&SJ@>:&9=;&P:<@?A:8&:Q:?@9AN=&@;&8:&@DQ=FA9AG;5&3J@N@&
N:?F@&L:8F:F&@;<?:N:F&N@&FJS@<=5&
V5 #F<?@9E=(&:8&LA;:8&F@&:89:;h:&J;:F&R=9@F&:&=<?:F&Q:?:&<@?PA;:?&SJ;<:F&@;&J;&LA;:8&
9=PU;H&@;&8:&<=;:8AN:N&Q?A;9AQ:85&%^JM&8:F&?@FQJ@F<:F&@;<?:;&:;<@F&N@&^J@&<@?PA;@&@8&
<@P:&=&FJS@<=H&P@h98m;N=F@5&
#F<:&L=?P:&:89:;h:&FJ&QJ;<=&9J8PA;:;<@&9=;&RT*1T*^5A<5&

WTVT_*47@K5>*7@\E:>95C:>
#8&;:9APA@;<=&N@&8:&PUFA9:&=?^J@F<:8&R:&J;AN=&:8&`:??=9=5&%&Q:?<A?&N@&']OOH&@;&8:&
#F9J@8:&N@&Y@;@9A:H&0A=R:;;A*05F@=:C=&I&=<?=F&A;A9A:;&J;:&;J@R:&9=;9@Q9AG;&A;F<?JP@;<:85&
3:?:&@88=H&8:&PUFA9:&A;F<?JP@;<:8&E:&@R=8J9A=;:N=&E:9A:&J;:&@DQ?@FAG;&9=PQ8@S:&I&?A9:&@;&
9=8=?&I&R:?A@N:N5&):&=?^J@F<:&F@&L=?P:&I&<?:;FL=?P:&@;&J;&9=;SJ;<=&Q@;F:N=&9=;&8:&9J@?N:&
9=P=&@FQA;:&N=?F:85&1@&<?:;FL=?P:;&8:F&<b9;A9:F&&Q:?:&@F<@&<AQ=&N@&PUFA9:H&:Q8A9:;N=&8:F&N@&
8:&9=?:8(&Q=8A9=?:8AFP=&A;F<?JP@;<:8z&9=;<?:Q=FA9AG;&N@&Q8:;=F&F=;=?=F&I&<APK?@F&@;<?@&8:&
=?^J@F<: & c<J<<ABH & J; & >?JQ= & c9=;9@?<A;=B & I & @8 & F=8AF<: & cF=8=Bz & @8 & @F<A8= & 9=;9@?<:<=z&
9=;<?:Q=FA9AG;&N@&P=RAPA@;<=F&R@8=9@F&I&8@;<=F5&
.F:@9E@5
#F & J;: & QA@h: & Q:?: & A;A9A:? & J;: & GQ@?: & = & J; & =?:<=?A=H & 9=P= & J; & Q?G8=>= & Q:?: & ^J@ & 8=F&
@FQ@9<:N=?@F & F@ & F@;<:F@; & I & @8 & :PKA@;<@ & F@ & Q?@Q:?@5 & ):F & Q?AP@?:F & @?:; & L:;L:??A:F & Q:?:&
88:P:?&8:&:<@;9AG;H&9=;&;=PK?@F&<:;&R:?A:N=F&9=P=&<=9:<:&=&FA;L=;M:5&%&LA;:8@F&N@8&FA>8=&
[Y//&<@;@P=F&N=F&R:?A:;<@F(&*K@?<J?:&4?:;9@F:&cN=F&P=RAPA@;<=FH&J;=&8@;<=&I&Q=PQ=F=H&I&
=<?=&R@8=h&@&APA<:<AR=H&9?@:N:&Q=? &-ECCDB&I&*K@?<J?:&+:Q=8A<:;:&c<?@F&F@99A=;@F(&%88@>?=&
cAPA<:<AR=BH&%N:>A=&I&%88@>?=z&A;<?=NJ9AN:&Q=?&%8@FF:;N?=&1A5@C599=B5&
1E=9:
#;&@8&Q?AP@?&`:??=9=H&@F<:K:&L=?P:N:&Q=?&8:&Q:R:;:&I&>:88:?N:5&#;<?@&']6O&I&'_XO&FJ?>@&
@;&%8@P:;A:&8:&FJA<@&=?^J@F<:8H&J;:&F@?A@&N@&N:;h:F&9=;<?:QJ@F<:F&@;&@8&?A<P=&I&9:?m9<@?5&#F&
J;:&L=?P:&:KA@?<:&Q=?^J@&@8&;UP@?=&N@&N:;h:F&@F&R:?A:K8@5&1J&@F<?J9<J?:&@F(&J;&Q?@8JNA=&N@&
A;<?=NJ99AG;z&FA>J@&J;&;UP@?=&R:?A:K8@&N@&N:;h:F&@;&@8&PAFP=&<=;=&^J@&F=;(&:88@P:;N@&
cX{XH&P=N@?:N:BH&9=??@;<@&c<@?;:?A:&I&?mQAN:BH&h:?:K:;N:&c<@?;:?A:&I&8@;<:B&I&>A>:&c]{a&I&
LJ>:N:B5& & ,@F<:9:&T;N@8&9=;&FJF&FJA<@F&=?^J@F<:8@F&Q:?:&9@?@P=;A:F&9=?<@F:;:FH&9=P=&
q$UFA9:&%9Jm<A9:r&=&q$UFA9:&Q:?:&8=F&LJ@>=F&:?<ALA9A:8@Fr5&
&C*%78A=:@97
%Q:?@9@&@;&8:F&N=F&U8<AP:F&Nb9:N:F&N@8&[Y//H&9JI=&;=PK?@&RA@;@&N@&q9=;9@?<:?@rH&I&8=&
A;<@?Q?@<:;&R:?A=F&A;F<?JP@;<=F& &FAPJ8<m;@:P@;<@5&$J@F<?:&8=F&Q?A;9AQA=F&N@&8:&PUFA9:&
K:??=9:(&
! )J9E:&@;<?@&@8&K:S=&9=;<A;J=&I&J;:&R=h&L8=?AN:&@;9AP:z&
! *?>:;Ah:9AG;&&@;&8=F&P=N=F&$:I=?&I&$@;=?z&
! $=RAPA@;<=F&F@Q:?:N=F&I&9=;<?:F<:N=Fz&
! C=;<?:F<@&@;<?@&8=F&NAL@?@;<@F&>?JQ=F&<MPK?A9=Fz&
! 2JD<:Q=FA9AG;&N@&<@D<J?:Fz&
! 3?=>?@FA=;@F&9=;F<:;<@FH&@9=F&I&?@Q@<A9A=;@Fz&
! ):;h:PA@;<=F&N@&AN:&I&RJ@8<:&N@&L?:F@F&9=?<:F&@;<?@&8=F&&F=8AF<:F&I&@8&<J<<A5&
V]

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

1@&<?:<:&N@&J;:&L=?P:&=?^J@F<:8&9=PQJ@F<:&Q=?&<?@F&P=RAPA@;<=F&9=;<?:QJ@F<=F&9=;&
@F<@&@F^J@P:(&:88@>?={8@;<={:88@>?=5&#8&Q?AP@?=&<A@;@&L=?P:&N@&?A<=?;@88=H&F@P@S:;<@&:&J;&
?=;NGH & Q@?= & NALA@?@ & @; & ^J@ & @8 & ?A<=?;@88= & cA;<@?Q?@<:N= & Q=? & @8 & ?AQA@;= & I & @8 & 9=;9@?<A;=BH&
F@P@S:;<@&:&J;&@F<?AKA88=H&9:PKA:&N@&<=;:8AN:N&I&F@&:8<@?;:&9=;&Q:F:S@F&N@8&F=8AF<:&^J@&F=;&
NAF<A;<=F&@;<?@&FM5&#8&F@>J;N=&P=RAPA@;<=&<A@;@&L=?P:&KA;:?A:H&I&@8&<@?9@?=&@F&J;&?=;NG&
FAPQ8@&c%`%C%,555B5&):F&R:?A:;<@F&^J@&FJ?>@;&F=;(
! C=;9A@?<=&=?^J@F<:8(&=K?:&=?^J@F<:8&FA;&>?JQ=F&9=;<?:F<:;<@F
! C=;9A@?<=&>?=FF=(&F@&=Q=;@;&@8&>?=FF=&=&<J<<A&c?AQA@;=B&I&J;&Q@^J@W=&;UP@?=&N@&
F=8AF<:F&c9=;9@?<A;=B
! C=;9A@?<=&F=8MF<A9=(&9=;<?:F<:&@8&>?=FF=&N@&8:&=?^J@F<:&I&J;&F=8AF<:
):&=?^J@F<:&N@8&9=;9A@?<=&@F<m&L=?P:N:&Q=?&8:&9J@?N:&NARANAN:&@;&RA=8A;@F&/&I&//H&RA=8:H&
RA=8=;9E@8=&I&RA=8G;H&SJ;<=&9=;&@8&K:S=&9=;<A;J=5&):&@F@;9A:&N@8&9=;9A@?<=&@F&@8&NAm8=>=&
9=;<?:F<:;<@&@;<?@&@8&<J<<A&I&@8&9=;9@?<A;=&=&F=8=5
)=F & 9?@:N=?@F & N@8 & 9=;9A@?<= & F=; & J;=F & 9=PQ=FA<=?@F & ^J@ & RAR@; & @; & @8 & ;=?<@ & N@ & /<:8A:&
c$GN@;:H & `=8=;A: & I & Y@;@9A:Bz & Q:?: & @88= & LJ@ & Q?@9AF= & @8 & RA?<J=FAFP= & RA=8A;MF<A9= & I & 8=F&
P:>;MLA9=F&A;F<?JP@;<=F&N@&8=F&8J<EA@?F&N@&C?@P=;:5&"?@F&N@&8=F&:J<=?@F&PmF&APQ=?<:;<@F&
F=;&)@A58J:C7*%7@:CC=B*'7KK5>7*P=95C=*D*0=E>:LL:*'7@:CC=H&Q@?=&@8&PmF&9b8@K?@&@F&
)8978=7 * P=M5CI=H & J;= & N@ & 8=F & >@;A=F & N@8 & `:??=9=5 & 0?:; & RA=8A;AF<:H & ?@Q?@F@;<: & 8:&
9J8PA;:9AG; & N@8 & K:??=9= & A;F<?JP@;<:8 & A<:8A:;=H & N@F<:9:;N= & @;<?@ & FJF & =K?:F & q)n@F<?=&
:?P=;A9=rH&q):&1<?:R:>:;h:rH&q/8&CAPA@;<=&N@88:&:?P=;M:&@&N@88:&A;R@;hA=;@rH&^J@&9=;<A@;@&
q):F&9J:<?=&@F<:9A=;@Fr5&):F&9J:8AN:N@F&N@&FJ&PUFA9:&F=;(&K@88@h:&N@&8=F&<@P:FH&98:?AN:N&N@&
FJ & L=?P:H & LJ@?<@ & @DQ?@FARAN:NH & @PQ8@= & N@8 & RA@;<=H & LA>J?:9AG; & RA?<J=FMF<A9: & I & RAR:9AN:N&
?M<PA9:5&1JF&9=;9A@?<=F&F=;&Q:?:&RA=8M;&F=K?@&<=N=H&Q@?=&<:PKAb;&Q:?:&L8:J<:H&L:>=<H&@<95&
0JF<:&:N@PmF&N@&JF:?&N@F9?AQ9A=;@F&PJFA9:8@F5&
#;&%8@P:;A:H&RT*1T*^5A<&88@RG&:&FJ&9AP:&&@8&9=;9A@?<=H&:8&9=PQ=;@?&8=F&F@AF&qC=;9A@?<=F&
N@ & `?:;N@;KJ?>=rH & N=;N@ & A;<@>?: & :8 & 9=;9A@?<= & >?=FF= & =<?=F & A;F<?JP@;<=F & N@ & RA@;<=&
@;?A^J@9A@;N=&@8&9=8=?5&&#F<?J9<J?:N=F&@;&<?@F&<A@PQ=FH&J<A8Ah:&8:&L=?P:&?A<=?;@88=H&I&P@h98:&
?:F>=F &A<:8A:;=F&I&:8@P:;@F5&#8&>?=FF=&FA>J@&FA@;N= &8: &9J@?N:H&Q@?=&@;&@8 &9=;9@?<A;=& F@&
:W:N@;&<?=PQ@<:H&L8:J<:H&=K=@H&@<95&*<?=&9=PQ=FA<=?&N@F<:9:N=&@F&':C:K5885&
&
Zh8I:C& <?:K:SG & 8: & P:I=? & Q:?<@ & N@ & FJ & RAN: & @; & /;>8:<@??:5 & CA<:P=F & FJF & qC=;9A@?<=F&
F=8MF<A9=F&Q:?:&G?>:;=&I&=K=@rH&N@&>?:;&K@88@h:5&&

a"#$%&$L(--+'+$.)$&+2$;(D2.2$.=-+;.+2

$95C=5(&8:&Q?m9<A9:&A;F<?JP@;<:8&F@&?@NJS=&:&=K@?<J?:FH&9=;9@?<A&>?=FFAH&F=;:<:F&I&L=?P:F&
@;&8:F&^J@&Q?@N=PA;:&8:&9J@?N:&I&@8&98:R@9M;5&)=F&:J<=?@F&PmF&N@F<:9:N=F&F=;&)T*P=M5CI=B*
0T*'5@9=8=B*'T*)CF=878=B*)T*%7@:CC=B*@<95&
4@58A=5B*:C*:>9=C7*J5C589:(&#;&8:&4?:;9A:&N@8&[Y//H&8:&RA=8:H&@8&8:UN&I&@8&98:R@9M;&F@&
9=;FAN@?:K:;&A;F<?JP@;<=F&;=K8@Fz&FA;&@PK:?>=H&8=F&RA=8A;@F&;=&<@;M:;&KJ@;:&?@QJ<:9AG;5&
3@?=&@;&']XO&&@8&8:UNH&F@?m&FJF<A<JAN=&Q=?&@8&98:R@5&#8&@F<A8=&?=9=9G&=&>:8:;<@&@F&J;&P=N=&N@&
9=PQ=;@?&^J@&<=P:&8:&L=?P:&N@&K?@R@F&QA@h:F&>?:9A=F:FH&88@;:F&N@&@PK@88@9APA@;<=F&Q:?:&
F@? & N@>JF<:N:F & @; & F:8=;@F & ;=K8@FH & A;<@?Q?@<:N:F & 9:FA & FA@PQ?@ & Q=? & @8 & 98:R@9M;5 &4?:;=AF&
%7EL:@=8&&?@Q?@F@;<:&8:&LA;J?:&I&8:&FAPQ8A9AN:NH&8=&@FQA?A<J:8&I&8=&>:8:;<@z&;=&@F&:LM;&:&8=F&
>?:;N@F&N@F:??=88=F&&9=;<?:QJ;<MF<A9=F&N@&8=F&:8@P:;@F&;A&:&8:F&?@Q@<A9A=;@F&N@&8:&:;<@?A=?&
FJA<@&L?:;9@F:5&3=?&@88=H&FJF&QA@h:F&K?@R@F&F=;&QA;<J?:F&Q?@9A=FAF<:FH&Q=b<A9:F&I&?@LA;:N:F5&
*<?=&>?:;&:J<=?&@F&k@:;73EA8AQQ@*/5K:5E5&
V_

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

$8JC59:@@5( & #8 & A;F<?JP@;<= & N@ & <@98: & 9=; & PmF & bDA<= & 9=;<A;U: & FA@;N= & @8 & RA?>A;:8H&
N@F:??=88m;N=F@&P@;=F&@8&G?>:;=5&)=F&9=;SJ;<=F&N@&RA=8:F&I&RA=8A;@F&=9JQ:;&J;&QJ@F<=&
Q?A;9AQ:8H&E:F<:&^J@&8=F&F@>J;N=F&R:;&FJF<A<JI@;N=&:&8:F&Q?AP@?:F5&):&L=?P:&Q:?:&9=;F=?<&
PmF&APQ=?<:;<@&@F&8:&L:;<:FM:&cL:;9IB5&,@F<:9:&3E@A:CC5
&>L5S5( & ,@F<:9: & 8: & PUFA9: & Q:?: & <@98:N=z & 9=P= & 98:R@9A;AF<:F & 9A<:P=F & : &#7K:8=A7*
1A5@C599=B *A<:8A:;=&^J@&Q:FG&>?:;&Q:?<@&N@&FJ&RAN:&@;&#FQ:W:H&I&:8 &35I@:*17C:@z&9=P=&
=?>:;AF<:F& &%7@@:5*I:*)@5EN7&I&RE58*^5E9=>95*%5F58=CC:>H&P:@F<?=F&N@&8:&R:?A:9AG;&I&
N@&qK:<:88:Fr&cQA@h:F&R=9:8@F&@&A;F<?JP@;<:8@F&^J@&N@F9?AK@;&K:<:88:FBH&N=PA;:N=F&Q=?&@8&
<APK?@&A;9AFAR=&N@8&SJ@>=&N@&8@;>~@<:F5&):&Q?A;9AQ:8&=K?:&N@&1A5@C599=&F=;&FJF&q#S@?9A9A=FrH&
K?@R@F&F=;:<:F&Q:?:&98:R@&N@&J;&P=RAPA@;<=&@;&8:F&^J@&:&R@9@F&:;J;9A:&8=F&N=F&<@P:F&&N@&8:&
F=;:<:&98mFA9:5&3=?&Q?AP@?:&R@h&@P@?>@&@8&RA?<J=FAFP=&@;&@8&<@98:N=&9=;&9?J9@F&N@&P:;=FH&
:<:^J@FH&:?Q@>A=F&I&=<?=F&:?<ALA9A=F5&f;@&8:&>?:9A:&I&:>A8AN:N&A<:8A:;:&:8&F:K=?&EAFQm;A9=H&N@&
?A<P= & :8@>?@ & I & :N=?;=F & I & >A?=F & P@8GNA9=F & AKb?A9=F5 &05>L5@ * 158`& @F & @8 & P:@F<?= & N@ & 8:&
>JA<:??:&@FQ:W=8:&Q:?:&8:&^J@&9=PQJF=&N:;h:F&@FQ:W=8:F5&
)C:K58=5( & C=; & `:9E & I & T;N@8H & 8:F & L=?P:F & A;F<?JP@;<:8@F & :89:;h:; & FJ & PmDAP=&
@FQ8@;N=?5 & "?:F & @88=FH & 8=F & ;=PK?@F & PmF & 9b8@K?@F & F=; &(59<:>78& I &':C:K588H & ^J@&
9=PQJF=&PJ9E:F&=K?:F&Q:?:&98:R@&cFJA<@FH&L:;<:FM:F&I&K?@R@&QA@h:FB&I&G?>:;=5&^E;9:<EI:*
9=PQJF= & QA@h:F & Q:?: & <@98:N=F & I & 9=;9A@?<=F & ?@8A>A=F=F5 &^5A<& Q=F@@ & J;: & >@;A:8AN:N & ^J@&
?:NA9:&@;&E:K@?&Q@?L@99A=;:N=&8:F&L=?P:F&E:F<:&8MPA<@F&A;F=FQ@9E:N=F5&#F&@FQ@9A:8P@;<@&
?@8@R:;<@&FJ&PUFA9:&Q:?:&G?>:;=&cLJ>:F&I&9=?:8@FBH&98:RA9bPK:8=&I&=?^J@F<:5&%8>J;:F&N@&FJF&
=K?:F&PmF&APQ=?<:;<@F&F=;(&q#8&98:R@&KA@;&<@PQ@?:N=rH&?@J;AG;&N@&!X&Q?@8JNA=F&I&LJ>:F&@;&
<=N=F&8=F&<=;=F&P:I=?@F&I&P@;=?@FH&J<A8Ah:;N=&<=N:F&8:F&Q=FAKA8AN:N@F&N@&@F9?A<J?:&LJ>:N:z&
qY:?A:9A=;@F&0=8NK@?>rH&K:F:N:F&@;&J;:&h:?:K:;N:&I&FJF&<?@A;<:&R:?A:9A=;@FH&q):&=L?@;N:&
PJFA9:8rH & K:F:N: & @; & 8:F& APQ?=RAF:9A=;@F &: & Q:?<A? & N@& J; &<@P: & @DQJ@F<= & Q=?& 4@N@?A9= & @8&
0?:;N@&N@&3?JFA:H&I&q#8&:?<@&N@&8:&4J>:rH&NA@9A=9E=&9m;=;@F&I&LJ>:F&K:F:N=F&@;&J;&PAFP=&
FJS@<= & I & NAFQJ@F<=F & @; & =?N@; & N@ & NALA9J8<:N & 9?@9A@;<@5 & ":;<= & @; & 8:F & FJA<@F & 9=P= & @; & 8=F&
9=;9A@?<=F & J;@&@8& >JF<= &P@8GNA9= & A<:8A:;= & 9=;&8: & <b9;A9:& 9=;<?:QJ;<MF<A9: &:8@P:;:5 & 1=;&
L:P=F:F&8:F&F@AF&FJA<@F&Q:?:&RA=8=;9@88=&F=8=&I&Q:?:&98:R@5 &Zh8I:C& <A@;@&J;&;UP@?=&N@&
=K?:F & A;F<?JP@;<:8@F & ;:N: & N@FQ?@9A:K8@( & 9J:?@;<: & FJA<@F & Q:?: & 98:R@9M;H & <?@A;<: & I & FA@<@&
F=;:<:F&I&<?M=FH&N=9@&9=;9A@?<=F&Q:?:&G?>:;=&I&=?^J@F<:H&R@A;<ANGF&9=;9A@?<=F&Q:?:&=?^J@F<:&
c9=;9A@?<=&>?=FF=B555

Va

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

'&()*f,*(a1$%)*P.%)-*&"*&-*^)//.%.
'5&/+".*,fCC/\+
!5&C%.%C"#.-1"/C%1&,#&)%&$e1/C%&`%..*C%5
V5&)%&\3#.%
V5'&/;<?=NJ99AG;
V5!&+:9APA@;<=(&8:&C:P@?:<:&48=?@;<A;:
V5V&#F9J@8:F&I&9=PQ=FA<=?@F
%7/<:8A:(&.=P:H&Y@;@9A:H&+mQ=8@F
`74?:;9A:
C7/;>8:<@??:
X5&$e1/C%&Y*C%)&.#)/0/*1%5
X5'&/;<?=NJ99AG;
X5!&*?:<=?A=
X5V&C:;<:<:
X5X&%;<E@P
X5Z&3:FAG;
X5]&$AF:

!"#$<IOY3JZ??<[I

&C& ^5@@7A7& @F & @8 & Q@?A=N= & :?<MF<A9= & ^J@ & 9=PQ?@;N@ & N@FN@ & ']OO & E:F<: & '_ZO&
:Q?=DAP:N:P@;<@5
)= & PmF & 9:?:9<@?MF<A9= & N@ & 8: & bQ=9: & @F & 8: &7L7>=A=?8 * I: * L@=8A=L=7> * :>9i9=A7>*
@:>L:A97 * 5C * /:85A=K=:8975 & ,J?:;<@ & @8 & F5 & [Y/ & @F<JRA@?=; & RA>@;<@F & 8=F & Q?A;9AQA=F & N@&
:?P=;M:H&98:?AN:NH&Q?=Q=?9AG;&I&K@88@h:&@;&<=N:F&8:F&:?<@F5&#;&@8&`:??=9=&E:K?m&J;&>JF<=&
Q=?&8=&@DJK@?:;<@H&@8&P=RAPA@;<=H&@8&9=;<?:F<@5&):&KQ>=A5&>:@[&@:A5@J5I5B*FE>A58I7*
97I7*9=L7*I:*:G:A97>*D*A789@5>9:>&Q:?:&8:&@DQ?@FAG;&N@&F@;<APA@;<=F5
#;&8:F&9=?<@F&@J?=Q@:F&Q?@N=PA;:?m;&8:F&(785@\EH5>*)F>7CE95>&Q:?:&9=;F@>JA?&
J;&P:I=?&N=PA;A=&:;<@&8:F&98:F@F&Q=QJ8:?@F5&):F&9=?<@F&9=;<:?m;&9=;&>?:;&Q=N@?&I&8JS=&I&:C*
5@9:*:8*J:8:@5C*D*:8*A78A@:97*C5*KQ>=A5*>:@[*C5*K58=G:>95A=?8*I:*:>9:*L7I:@5&):&
/>8@FA:&N@FQJbF&N@&8=F&NAF<J?KA=F&Q?=R=9:N=F&NJ?:;<@&@8&F5&[Y/&9=;<A;U:&8=F&NA9<:N=F&N@8&
C=;9A8A= & N@ & "?@;<= & I & Q:?: & P:;<@;@? & A;<:9<= & FJ & Q=N@? & J<A8Ah:?m & 8:F & :?<@F & 9=; & LA;@F&
Q?=Q:>:;NMF<A9=F5
C=;<A;U: & RA>@;<@ & J;: & LJ@?<@ & :9<ARAN:N & N@ &K:A:85`J7& ^J@ & E:?m & ^J@ & :?<AF<:F & I&
PUFA9=F&<?:K:S@;&Q:?:&.@I@FH&A;F<A<J9A=;@F&?@8A>A=F:F&=&A;F<A<J9A=;@F&9=;&Q=N@?5
f;: & ;=R@N:N & F@?m & N@FN@ & LA; & N@8 & F5 & [Y// & 8: &5L:@9E@5 * I: * >5C5 * I: * A78A=:@97>*
LQFC=A7>& : & 8:F & ^J@ & F@ & :99@N@?m & Q:>:;N= & J;: & @;<?:N:5 & ): & KJ?>J@FM: & Q:?<A9AQ:?m&
:9<AR:P@;<@&N@&8:&RAN:&PJFA9:85

7"$?GYG?O%Y\EO<?GE$8ZE<?G0%E
!
!
!
!
!

pQ=9:&N@&>?:;N@F&:R:;9@F&PJFA9:8@F(&
1:*:>95FC:A:*:C*>=>9:K5*9785CH&
)=F&A;F<?JP@;<=F&@R=8J9A=;:;&
1@&9?@:;&;J@R=F&>b;@?=F&PJFA9:8@F&c=?:<=?A=H&GQ@?:B5
1@&N@F<?JI@&@8&Q?A;9AQA=&N@&A>J:8N:N&N@&R=9@F&N@&8:&Q=8AL=;M:&?@;:9@;<AF<:5&):&<@D<J?:&
:E=?:&@F&N@&J;:&R=h&N@F<:9:N:&I&8:&FJK=?NA;:9AG;&N@&=<?:F5&
C=P=&F=Q=?<@&N@&@F<:&@F<?J9<J?:&:Q:?@9@&@8 &F5N7*A789=8E7H&8M;@:&P@8GNA9:&@;&@8&
K:S=&^J@&F@&9=PQ8@<:&9=;&:9=?N@F5&3J@N@&?@:8Ah:?F@&Q=?&J;=&=&PmF&A;F<?JP@;<=F5
V6

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!
!
!

#;&?@8:9AG;&9=;&8:&;J@R:&<@D<J?:&F@&?@:8Ah:;&N=F&Q?m9<A9:F&@;&@F<:&bQ=9:(&8:&88:P:N:&
3@=K5 * L@599=A5& ^J@ & P:;<A@;@ & @8 & @F<A8= & Q=8ALG;A9= & ?@;:9@;<AF<: & I & 8: &1:A78I5*
L@599=A5&^J@&F@&?@LA@?@&:&8:&P@8=NM:&:9=PQ:W:N:&N@8&K:??=9=5
f<A8Ah:9AG;&N@&<=N=&<AQ=&N@&P@NA=F&Q:?:&8:&@DQ?@FAG;&N@&F@;<APA@;<=FH&8=&^J@&F@&E:&
9=;=9AN=&9=P=&8:&':7@H5*I:*C7>*)G:A97>5&):&PUFA9:&:Q=I:&8:&@DQ?@FAG;&N@8&<@D<=5
): & PUFA9: & A;F<?JP@;<:8 &F@& A;N@Q@;NAh: &<=<:8P@;<@ &N@ &8: &R=9:8 & :Q:?@9A@;N= & >?:;&
9:;<AN:N&N@&=K?:F&@FQ@9MLA9:F&A;F<?JP@;<:8@F5&%Q:?@9@&8:&LA>J?:&N@8&RA?<J=F=5

F"$0G$[C%YG
VT+*$"'/.#O%%$j"

): & GQ@?: & @F & J;: & =K?: & @F9b;A9: & N=;N@ & 9:;<=H & Q:?<@F & A;F<?JP@;<:8@FH & N:;h: & I&
@F9@;=>?:LM:&J;AN:F&Q=?&J;&<@D<=&9=;F<A<JI@;&J;:&J;AN:N&N@&@FQ@9<m9J8=&^J@&F@&?@Q?@F@;<:&
Q:?:&J;&QUK8A9=5
#8 & 9:PKA= &N@&<@D<J?: &Q?=NJ9AN= &E:9A:& 8: &P@8=NM:& :9=PQ:W:N:&F@?m &LJ;N:P@;<:8&
Q:?:&8:9@?:9AG;&N@&@F<@&;J@R=&>b;@?=5&#F<:&<?:;FL=?P:9AG;&@F&98:?:&FA>JA@;N=&8:&@R=8J9AG;&
N@&8=F&P:N?A>:8@F&N@&$=;<@R@?NA5&3=?&=<?=&8:N=&8=F&:;<@9@N@;<@F&EAF<G?A9=F&N@&J;A?&PUFA9:7
<@D<= & I & N?:P:<Ah:9AG; & F=; & ;JP@?=F=F & N@FN@ & 8: & bQ=9: & >?A@>:H & 8=F & N?:P:F & 8A<U?>A9=F&
P@NA@R:8@F555

VTU*")%$($&"'.,*%)(&/)')*4-./&"'$")

):F&C:P@?:<:F&@F<:K:;&L=?P:N:F&Q=?&>?JQ=F&N@&Q=@<:FH&PUFA9=FH&8A<@?:<=F555&^J@&:8&
:PQ:?=&N@&NAR@?F=F&P@9@;:F&F@&?@J;M:;&Q:?:&E:K8:?&N@&9A@;9A:H&:?<@H&8A<@?:<J?:555
#; & 48=?@;9A: &FJ?>AG &8: & C:P@?:<: &48=?@;<A;: &= &C:P@?:<: & `:?NA& N=;N@ &F@& NAF9J<M:&
F=K?@&8:F&L:9J8<:N@F&N@&8:&PUFA9:&>?A@>:5&1@&Q?@<@;N@&E:9@?&?@;:9@?&8:&L=?P:&N@&"@:<?=&@;&
0?@9A:&Q:?<A@;N=&N@&8:&K:F@&N@&^J@&bF<@&@F&9:;<:N=&I&N@&<@Pm<A9:&PA<=8G>A9:7P=?:8Ah:;<@&
F@>U; & 8:F & A;R@F<A>:9A=;@F & N@ & 0A?=8:P= & $@A5 & $UFA9=F & 9=P= & Y5 & 0:8A8@=H & 3@?AH & C:99A;A & I&
$=;<@R@?NA&L=?P:K:;&Q:?<@&N@&@F<@&9M?9J8=5
1J?>@&:FM&8:&P:;@?:&N@&@F9?AKA?&=K?:F&PJFA9:8@F&K:S=&@F<:F&Q?@PAF:F&^J@&F@?m;&8:&
K:F@ & N@ & 8: & GQ@?:H & N=;N@ & J;: & P@8=NM: & :9=PQ:W:N: & @DQ?@F: & J;: & F@?A@ & N@ & F@;<APA@;<=F&
PA@;<?:F&9J@;<:&J;&:?>JP@;<=H&J;:&EAF<=?A:5&1@&9=;F@?R:;&N=F&GQ@?:F&N@&']OOH&8:F&N=F&9=;&
@8&PAFP=&;=PK?@H &%=-D5/'.H& N@ &3:@= *I &%5AA=8= *Q@?=&@;&@88:F&E:K?m&F=8:P@;<@&JF=&N@8&
?@9A<:<AR=5
): & GQ@?: &3-4.+& N@ & $=;<@R@?NA & N@ & ']O_ & @F & 9=;FAN@?:N: & 8: & Q?AP@?: & GQ@?: & @; & @8&
F@;<AN=&9=PQ8@<=&I:&^J@&@8&:J<=?&@PQ8@G&J;:&P:I=?&R:?A@N:N&N@&?@9J?F=F&I&P@NA=F&9=P=&
:?A:F&=&9:;9A=;@F&N@&N:;h:5&":PKAb;&9=PQJF=&=<?:H&G-/(5)(&@;&']Oa&N@&8:&^J@&F=8=&;=F&
^J@N:&@8&):P@;<=5

VTV*&1%O&-)1*2*%.(3.1$'./&1
G#$<OG0<G

2:&E@P=F&E:K8:N=&N@&48=?@;9A:5&3:F:P=F&:&9=;<A;J:9AG;&:&=<?:F&9AJN:N@F(
!" /.(), *,@FQJbF & N@8 & :J>@ & N@ & 48=?@;9A:H & 8: & GQ@?: & Q:F: & : & .=P: & F=K?@ & ']!O5 & ):&
<@Pm<A9:&9=;<A;U:&FA@;N=&PA<=8G>A9:5&):&NAL@?@;9A:&@;<?@&:?A:F&I&?@9A<:<AR=F&@F&:^JM&
I: & <=<:8P@;<@ & @RAN@;<@5 & % & P@NAN: & ^J@ & :R:;h: & @8 & FA>8= & 8: & 9:8AN:N & PJFA9:8 & F@ & RA=&
P@?P:N: & Q=? & J; & @PQ8@= & @D9@FAR= & N@ & 8=F & N@9=?:N=F & I & 8: & <?:P=I:5 & ,@F<:9:;&
9=PQ=FA<=?@F&9=P=&-58I=&=&/7>>=5
XO

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

#" P&"&%$),*%&P@NA:N=F&N@8&FA>8=&[Y//&@8&:J>@&=Q@?MF<A9=&Q:F:&:&@F<:&9AJN:N5&#F&@;&
Y@;@9A:&N=;N@&F@&:K?A?m&@;&']V_&@8&':59@7*158*%5>>=587H&Q?AP@?&<@:<?=&QUK8A9=&N@&
<:^JA88:5&):F&?@Q?@F@;<:9A=;@F&N@&8:F&GQ@?:F&NJ?:;<@&8=F&Q?AP@?=F&:W=F&F@&EA9A@?=;&
@;&:PKA@;<@F&?@NJ9AN=FH&Q@?=&@8&E@9E=&N@&9=;<:?&9=;&J;&<@:<?=&L:R=?@9AG&8:&:L8J@;9A:&
N@&J;&QUK8A9=&P:F&Q=QJ8:?5&%J;^J@&8=F&:?>JP@;<=F&PA<=8G>A9=F&F@&FA>J@;&N:;N=H&
<:PKAb;&F@&KJF9:;&EAF<=?A:F&Lm9A8@F&^J@&>JF<@;&I&NAF<?:A>:;5
,@F<:9:&4?:;9@F9= &%5M5CC=&9=; &E.-2.$I&0($J/5+)."&p8&Q?=LJ;NAh:?m&@;&8:&L=?P:&
N@8&%?A:&N:&C:Q=H&<MQA9:&N@&@F<@&Q@?A=N=5&C=;F<:&N@&<?@F&Q:?<@F&%&`&%n&FA@;N=&%&I&`&
9=;<?:?A:F & @; & 9:?m9<@?5 & ): & ?@Q@<A9AG; & %n & N: & 8AK@?<:N & :8 & 9:;<:;<@ & : & A;<?=NJ9A?&
=?;:P@;<:9AG;&APQ?=RAF:N:&8=&9J:8&L:R=?@9@&FJ&8J9APA@;<=&Q@?F=;:85
":PKAb; & @F & APQ=?<:;<@ & %;<=;A= &%:>9= *I & F=K?@ & <=N= & C8:JNA= &(789:M:@I=& ^J@&
9=PQ=;@ & FJF & N=F & U8<AP:F & GQ@?:F & Q:?: & Y@;@9A:( &<& $ -/*+-)+ $ 5dZ&/22.& I&
0d<)'+-+)(b/+).$5/$C+;;.("
$" "k3.-&1, *#;&+mQ=8@F&;:9@&=<?:&<@;N@;9A:&^J@&9=;^JAF<:&@8&PJ;N=&9J8<J?:8&N@&
@;<=;9@F5 & ): & GQ@?: & F@ & :Q=I: & PmF & @; & @8 & @FQM?A<J & Q=QJ8:? & ^J@ & @; & 8: & :;<A>~@N:N5&
3@7M:8`5C:& @F & 9=;FAN@?:N= & LJ;N:N=? & N@ & @F<: & <@;N@;9A:5 & 1@ & APA<:?m; & 9:;9A=;@F&
Q=QJ8:?@F5 & ":PKAb; & F@ & N@K@; & ;=PK?:? & : &%8@FF:;N?=* 19@5I:CC5& I & : &%8@FF:;N?=&
1A5@C599=5&#F&@;&+mQ=8@F&N=;N@&@;9J@;<?:;&8:&L=?P:&N@LA;A<AR:&8:&GQ@?:&KJL:&9=;&
LA>J?:F & 9=P= & 0A=R:;;A & `:<<AF<:* 3:@J7C:>= *:J<=? & N@ & 8: & 9=;=9ANMFAP: &0( $ E.-:( $
C(5-+)("
%" .3&/)*$')-$)")*&"*&-*1$0-.*1T*YP$$$,*&T:K?m&J;:&98:?:&NAL@?@;9A:&@;<?@&
?L:@5*>:@=5*D*?L:@5*FEG5T&
! ):&GQ@?:&F@?A:&9J@;<:&:?>JP@;<=F&EAF<G?A9=F7PA<=8G>A9=F5&1@&@;F:8h:;&R:8=?@F&
P=?:8@FH&@8&E=;=?555&0?:;&9JAN:N=&N@&8:F&R=9@F5&)J9APA@;<=&N@&8=F&9:;<:;<@F5&
%Q:?A9AG;&N@&8=F&9:F<?:<A5&
! ):&GQ@?:&KJL:&<A@;@&J;&<=;=&N@8AK@?:N:P@;<@&Q=QJ8:?5&CJ@;<:&EAF<=?A:F&N@&8:&
RAN:&9=<ANA:;:H&9=;&Q@?F=;:S@F&N@&98:F@F&K:S:F5&)@;>J:S@&F@;9A88=&I&P:?9:N=F&
<=^J@F&N@&EJP=?5&T:K?m&J;&<?:<:PA@;<=&;:<J?:8&N@&8:&R=h5&+J;9:&:Q:?@9@;&
9:F<?:<A5
L#$MYGI?<G

%8>J;:F & GQ@?:F & A<:8A:;:F & F@ & ?@Q?@F@;<:?=; & @; & 8: & 9=?<@ & L?:;9@F: & 9=; & 8: & RAFA<: & N@&
C:99A;A&I&=<?=F&:?<AF<:F&A<:8A:;=F5&3=9=&N@FQJbF&9=PA@;h:&8:&KUF^J@N:&N@&J;:&Q?=QA:&GQ@?:&
;:9A=;:85
):&LA>J?:&P:F&N@F<:9:N:&F@?m&k@:;7`:Q<AF<@ &-ECCDH&PUFA9=&N@&8:&9=?<@&N@&)JAF&[/Y&
N=;N@&=?>:;AhG&J;:&=?^J@F<:&Q?=QA:5&,@&>?:;&:PKA9AG;&I&9:?m9<@?&9:89J8:N=?H&F@&9=;RA?<AG&
@; & J; & F=K@?:;= & <:; & :KF=8J<= & @; & 8: & PUFA9: & 9=P= & )JAF & [/Y & @; & 8: & Q=8M<A9:5 & 1JF & GQ@?:F&
L?:;9@F:F&LJ@?=;&88:P:N:F&K!%#V)*"&AE!*0."&I&<@;M:;&=K@?<J?:H&Q?G8=>=&I&Z&:9<=F5&4:P=F:F&
LJ@?=;&G-1/5.`&G&'.2*.`$G*AB2"""
":PKAb;&N@F<:9G&k@:;73EA8AQQ@&/5K:5E*I:&@;&@8&F5&[Y///5&4J@&;=PK?:N=&PUFA9=&
N@&9=?<@&N@&)JAF&[Y5&,@F<:9:;&FJ&=K?:&0.2$<)5.2$R(&()*.2"
C=P=&9=;<?:Q:?<AN:&9GPA9:&:&8:&"?:>NA@&)I?A^J@&F@&9?@:&@8&M5EI:M=CC:H&^J@&A;98JI@&
NAm8=>=F & E:K8:N=F5 & 1J & PUFA9: & FJ@8@ & F@? & N@ & 9:?m9<@? & <?:NA9A=;:85 & ,@FQJbF & N@ & '_'Z & LJ@&
X'

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

9=;=9AN:&9=P=&.Li@5*A7K=\E:5
%J;^J@ & 9?=;=8G>A9:P@;<@ & 9:FA & F@ & F:8@ & N@8 & Q@?A=N= & @F & A;<@?@F:;<@ & ;=PK?:? & 8:&
-."!"$$%&)"&$31&9.;3("1&^J@&F@&N:&@;&'_Z!&d&'_ZX&@;<?@&Q:?<AN:?A=F&N@&8:&PUFA9:&L?:;9@F:&@&
A<:8A:;:&Q=?&P=<AR=&N@&8:&88@>:N:&:&3:?MF&@;&'_Z!&N@ &0($E.-:($C(5-+)(& N@&0A=R:;;A&
`:<<AF<:&3:@J7C:>=&I&=<?:F&=Q@?:F&KJL:F5
?#$<IR0GO%YYG

1@?m&:&Q:?<A?&N@&8:&!x&PA<:N&N@8&FA>8=&[Y//&9J:;N=&8:&GQ@?:&9=PA@;h:&:&<@;@?&9A@?<=&
?@;=PK?@5&):&LA>J?:&PmF&N@F<:9:N:&@F &T@;?I* 3E@A:CC& 9=; &J/5+$()5$G.).(2H&FJ&U;A9:&
GQ@?:5&#F9?A<:&Q:?:&F@?&?@Q?@F@;<:N:&@;&J;&9=8@>A=&L@P@;A;=H&N@KM:&NJ?:?&Q=9=&PmF&N@&J;:&
E=?:H&Q@?=&@F<:F&8APA<:9A=;@F&;=&A;L8JI@;&@;&8:&9:8AN:N&N@&8:&PUFA9:5&":PKAb;&N@F<:9:;&FJF&
F@PAGQ@?:FH&Q:?<@F&PJFA9:8@F&N@&=K?:F&<@:<?:8@F&9=P=&OA.$M(/-B$e=..)5
2:&@;&@8&FA>8=&[Y///&^JA@;&P:F&N@F<:9:?m&F@?m&0@=?>&4?A@N?A9E&Zh8I:CB&N@&=?A>@;&
:8@Pm;&Q@?=&^J@&N@F:??=88G&FJ&9:??@?:&@;&)=;N?@F5&#F9?AK@&XO&GQ@?:FH&PJ9E:F&K:F:N:F&@;&
8: & EAF<=?A: & N@ & .=P:5 & ,@F<:9:; &Y/)(&5+H &3-&()5+& = &R/=&/+ $ ?.2(-."& ):F & :?A:F & F@&
9=;RA@?<@;&@;&P=P@;<=F&N@&8J9APA@;<=&<=<:8&N@&8=F&9:;<:;<@F&I&8:F&=K?:F&F@&RJ@8R@;&J;:&
FJ9@FAG;&N@&?@9A<:<AR=FH&:?A:F&I&:&R@9@F&9=?=F&9=;&9:?m9<@?&>?:;NA8=9J@;<@&I&PJI&@F<m<A9=5

N"$8]E<?G$_3?G0$Y%0<R<3EG
WT+*$"'/.#O%%$j"
)=F&PAFP=F&9=PQ=FA<=?@F&^J@&E:9@;&=K?:F&?@8A>A=F:F&F=;&8=F&^J@&9=PQ=;@;&PUFA9:&
Q?=L:;:&@&A;@RA<:K8@P@;<@&@8&@FQM?A<J&=Q@?MF<A9=&N@&8:&P@8=NM:&:9=PQ:W:N:&8=&A;R:N@&<=N=&
:FM & ^J@ & SJ;<= & :8 & @F<A8= & Q=8ALG;A9= & ?@;:9@;<AF<: & F@ & Q@?LA8: & =<?= & 9=; & 98:?:F & A;L8J@;9A:F&
=Q@?MF<A9:FH&9=?=F&@&A;F<?JP@;<=F&@;&8:F&;J@R:F&L=?P:F&9=P=&@8&*?:<=?A=H&3:FAG;H&C:;<:<:&I&
%;<E@P5

WTU*./)'./$.
%8&A>J:8&^J@&8:&GQ@?:H&J;@&PUFA9:&I&<@D<=&Q@?=&FA;&N?:P:<Ah:9AG;5&)=F&<@D<=F&F=;&
?@8A>A=F=FH&KMK8A9=F&=&N@&9:?m9<@?&:8@>G?A9=5&C=;F<:&N@&8=F&PAFP=F&@8@P@;<=F&^J@&8:&GQ@?:(&
=K@?<J?:H&?@9A<:<AR=FH&:?A:F&I&9=?=FH&^J@&Q:?<A9AQ:?m;&@;&8:&:99AG;5
#8&=?:<=?A=&:Q:?@9@&F=K?@&<=N=&Q=?^J@&E:KM:&P=P@;<=F&:&8=&8:?>=&N@8&:W=&9=P=&
+:RAN:NH&CJ:?@FP:H&=&1@P:;:&1:;<:&@;&^J@&8:&/>8@FA:&R@M:&P:8&8:F&?@Q?@F@;<:9A=;@F&N@&
GQ@?:5&#8&=?:<=?A=&FJ?>@&9=P=&J;:&:8<@?;:<AR:&?@8A>A=F:&:8&=<?=&@FQ@9<m9J8=&Q?=L:;=5
#;&Q?A;9AQA=&@?:;&J;:F&?@J;A=;@F&9=;&LA;@F&:Q=F<G8A9=F&9@8@K?:N:F&@;&@8&*?:<=?A=&
cF:8G;&N@&=?:9AG;B&N=;N@&:N@PmF&N@&9J@F<A=;:?F@&<@P:F&N@&:?<@H&LA8=F=LM:H&8A<@?:<J?:555H&F@&
A;<@?Q?@<:K:; & 9A@?<:F & =K?:F & PJFA9:8@F & F=K?@ & <@D<=F & KMK8A9=F5 & #; & /<:8A: & N@F<:9: & 0A:9=P=&
%5@=>>=K=*I&%8@FF:;N?=*1A5@C599=5&
3@?=&FA;&NJN:&@8&P:I=?&>@;A=&N@8&=?:<=?A=&F@?m&0@=?>&4?A@N?A9E&Zh8I:C5&,@FQJbF&N@&
J;: & Q?AP@?: & @<:Q: & =Q@?MF<A9:H & : & Q:?<A? & N@ & '_X' & 9=PQ=;@ & V! & =?:<=?A=F5 & #;<?@ & 8=F & PmF&
APQ=?<:;<@F&@F<m; &E(=&& = &f=5(2$8(''(K.=2H&Q@?=&@8&PmF&9=;=9AN=&@F&q%&$8.2D(2rH&
N=;N@&F@&E:K8:&F=K?@&8:&RAN:&N@&k@FUF&:&8=&8:?>=&N@&Z!&;UP@?=F&PJFA9:8@F5&q#8&$@FM:Fr&@F&8:&
=K?:&R=9:8&PmF&A;<@?Q?@<:N:&N@&8:&EAF<=?A:&N@&8:&PUFA9:5

X!

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

WTV*%)"')')

4=?P:&PJFA9:8&9=PQJ@F<:&F=K?@&J;&<@P:&?@8A>A=F=&N@&9:?m9<@?&8M?A9=&9=;&F=8AF<:FH&
9=?=H & =?^J@F<:555 & 1@ & @S@9J<: & :;<@F & I & N@FQJbF & N@8 & F@?PG; & 9=P= & 9=P@;<:?A= & :8 & <@D<=&
@R:;>b8A9=5&1J&@D<@;FAG;&@F&PJ9E=&P@;=?&^J@&8:&@8&=?:<=?A=5
#F & @; & %8@P:;A: & N=;N@ & @;9=;<?:?m & P:I=? & K?A88:;<@h & ?@8:9A=;:N: & 9=; & @8 & 9J8<=&
8J<@?:;=5&#8&P:I=?&9=PQ=FA<=?&N@&9:;<:<:F&@F &k=E:;;&1@K:F<A:;* ^5A<5&1@&@;9J@;<?:&J;&
:8<=&>?:N=&N@&@DQ?@FARAN:N&I&N?:P:<AFP=&@;&@F<:F&=K?:F5&1@&9=;F@?R:;&:8?@N@N=?&N@&!OO&
9:;<:<:F&FJI:F5

WTW*)"'Z&(

.@8:9A=;:N= & 9=; & 8: & C:;<:<: & @F<m & @8 & %;<E@P & A;>8bF5 & 1@ & FA<U: & N@;<?= & N@8 & 9J8<=&
:;>8A9:;=5 & #F & J;: & 9=PQ=FA9AG; & ?@8A>A=F: & 9=; & F=8=F & I & 9=?=F & N=;N@ & F@ & A;<@?9:8:;&
N@<@?PA;:N=F&R@?FM9J8=FH&<=N=&9=;&:9=PQ:W:PA@;<=&A;F<?JP@;<:85&,@F<:9:?m;&k=E;*^C7l*
I&FJ&:8JP;=&T@;?I*3E@A:CC5

WTX*3)1$j"
4=?P:&PJFA9:8&FAPA8:?&:8&*?:<=?A=&Q@?=&9=;&<@P:&?@8:<AR=&:&8:&1@P:;:&1:;<:5&"A@;@&
=?A>@;&@;&8:&9=F<JPK?@&N@&8:&/>8@FA:&N@FN@&@8&F5&[&N@&8@@?&NJ?:;<@&8:&1@P:;:&1:;<:&8:&3:FAG;&
N@8&1@W=?5&C=;L=?P@&R:;&:R:;h:;N=&8=F&FA>8=F&@F<:&L=?P:&@R=8J9A=;:&I&88@>:&:&FJ&P:I=?&
@FQ8@;N=?&@;&@8&K:??=9=5
k=E:;;&1@K:F<A:;* ^5A<&FJQ=;@&8:&9J8PA;:9AG;&N@&@F<:&L=?P:5&#F9?AKAG&Z&Q:FA=;@F&
:J;^J@&FG8=&;=F&E:;&88@>:N=&N=F5 &0($C(2/>)$2.,9)$E()$f=()& @F&PmF&9=?<:&I&@;&@88:&
<A@;@; & Q=9: & Q?@F@;9A: & 8:F & :?A:F5 & $mF & APQ=?<:;<@ & @F &0( $ C(2/>) $ 2.,9) $ E() $ 8(*.+H&
PJ9E=&P:F&P=;JP@;<:8H&9=;&P:I=?&;JP@?=&N@&:?A:F&I&9=?=&I&=?^J@F<:&PmF&;JP@?=F=F5&
,@F<:9:;&8:&K@88@h:&N@&8:F&:?A:F&I&8:F&Q:?<@F&9=?:8@F5

WTf*($1)
1@ & FA>J@; & 9=PQ=;A@;N= & PAF:F & 9=;FAF<@;<@F & KmFA9:P@;<@ & @; & Q=;@? & PUFA9: & : & 8:F&
Q:?<@F&N@8&*?NA;:?A=5&&#8&:9=PQ:W:PA@;<=&A;F<?JP@;<:8&@F&>@;@?:8Ah:N=5&&,@F<:9:&8:&(/2($
.)$2/$1.)+-&N@&RT*1T*^5A<H&:FM&9=P=&8:F&N@&%8@FF:;N?=*1A5@C599=&=&%;<=;A=*%5CI5@55
*<?:F&=K?:F&?@8A>A=F:F&:&N@F<:9:?&F=;&@8&O.$J.=1&N@&$:?97%;<=A;@&%<5@L:89=:@&=&
@8&E*(K(*$8(*.-&N@&05&`5&3:@J7C:>=5

XV

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5 * gT_ * -) * (a1$%) * $"1'/O(&"')- * &" * &-*

%-)1$%$1(.T
'57&/;<?=NJ99AG;
!57&C:?:9<@?MF<A9:F
V57&)=F&/;F<?JP@;<=F&,@8&C8:FA9AFP=
X57&4=?P:F&PJFA9:8@F(&F=;:<:H&FA;L=;M:H&9=;9A@?<=&I&9J:?<@<=5
X5'57&):&F=;:<:
X5!57&):&FA;L=;M:
X5V57&#8&9=;9A@?<=
X5X57&4=?P:F&9:P@?MF<A9:F
Z57&):&#F9J@8:&N@&YA@;:(&T:IN;H&$=h:?<&I&`@@<E=R@;

!"#$<)*-+5=''/>)
#8 & C8:FA9AFP= & 9=PQ?@;N@ & N@FN@ & 8: & PA<:N & N@8 & FA>8= & [Y/// & E:F<: & @8 & LA;:8 & N@8 & FA>8=5&
C=;<A;U:; & 8:F&>?:;N@F&P=;:?^JM:F&:KF=8J<:F &RARA@;N= &?=N@:N:F&N@ &8JS=H &Q@?=&Q=? & Q=9=&
<A@PQ=H&8:&.@R=8J9AG;&4?:;9@F:&:9:K:&9=;&@F<@&:KJF=&N@&Q=N@?&I&N@&N@??=9E@&A??:9A=;:85&
1J?>@&J;:&98:F@&PJI&LJ@?<@H&8:&KJ?>J@FM:H&N@FN@&8:&9J:8&F@&APQJ8F:&J;&>?:;&P=RAPA@;<=&
9J8<J?:8&I&Q?=>?@FAF<:H&8:&/8JF<?:9AG;H&^J@&Q?=PJ@R@&8=F&AN@:8@F&N@&A>J:8N:N&I&KA@;@F<:?&Q:?:&
<=N=F&:&<?:RbF&N@&8:&@NJ9:9AG;&I&N@8&9=;=9APA@;<=5
#;&@8&:?<@H&@8&@F<A8=&+@=98mFA9=&@F&@8&F@>J;N=&?@<=?;=&:&8=F&AN@:8@F&N@&8:&9J8<J?:&98mFA9:5&
#8&Q?AP@?&?@<=?;=&F@&NA=&@;&@8&.@;:9APA@;<=5&*<?:&R@hH&8:&?:hG;H&8:&A;<@8A>@;9A:&I&@8&F@;<AN=&
9=PU;&KJF9:;&8:&K@88@h:&I&@8&@^JA8AK?A=&<:PKAb;&@;&@8&:?<@5&0JF<:&8:&FAP@<?M:&I&@8&=?N@;5
): &PUFA9:&F@?m&J;&@;<?@<@;APA@;<=&^J@&FA?R@&Q:?:&E:9@?&8: &RAN:&PmF&:P:K8@H&@F &J;&
Q@^J@W=&Q8:9@?5&):&PUFA9:&98mFA9:&@F&@8@>:;<@H&A;>@;A=F:&I&FAPQ8@5&)=&N?:Pm<A9=&E:&Q:F:N=&
N@&P=N:5

7"#$?(-('*.-D2*/'(2
+T &0?:; & R:?A@N:N & N@ & @8@P@;<=F& N@;<?= & N@ & 8: & PAFP: & 9=PQ=FA9AG;( & NAF<A;<=F & ?A<P=FH&
P@8=NM:F&I&<@P:FH&9:PKA=F&I&?@8@R=F&<MPK?A9=F&I&N@&9:?m9<@?H&?A^J@h:&NA;mPA9:555&
<=N=&@88=&P=8N@:N=&9=; &L8@DAKA8AN:N&I&@8@>:;9A:5&)=F&9=;<?:F<@F&QA@?N@;&8:&?A>AN@h&
K:??=9:5
UT &): & P@8=NM:& @F & PJI & APQ=?<:;<@( & ;:<J?:8 & I & @^JA8AK?:N:H & 9=;F<?JAN: & 9=; &L?:F@F&
FAPb<?A9:F& I & 8M;@:F & 8APQA:F & N@ & :N=?;=F5 &3?@N=PA;A= & N@ & 8:F & <=;:8AN:N@F & P:I=?@F&
F=K?@&8:F&P@;=?@F5
VT %N@PmF&N@&8=F&9=;<?:F<@F&N@&P:<Ah&N@8&`:??=9=H&F@&A;9=?Q=?:;&9=P=&;=R@N:N&8=F&
9:PKA=F&>?:NJ:8@F&N@&A;<@;FAN:NH&^J@&Q?=NJ9@;&J;&>?:;&APQ:9<=&@;&8:&bQ=9:(&@8&
9?@F9@;N=&I&@8&NAPA;J@;N=5
WT ):F&<@D<J?:F&F=;&PmF&<?:;FQ:?@;<@F&I&8A>@?:F&^J@&@;&@8&`:??=9=5&"@;N@;9A:&E:9A:&8:&
P@8=NM:&:9=PQ:W:N:&Q=?&@;9AP:&N@8&9=;<?:QJ;<=5
XT 1@ & >:;: & @; & L8@DAKA8AN:N & <MPK?A9:H & 8: &=?^J@F<: & 9?@9@& I &N@F:Q:?@9@ & @8 & Q:Q@8 & N@8&
9=;<A;J=5&#8&QA:;=&F@&APQ=;@&9=P=&A;F<?JP@;<=&N@&<@98:N=H&I&@8&98:R@&N@F:Q:?@9@5&
):&PUFA9:&A;F<?JP@;<:8&9=;<A;U:&N@F:??=88m;N=F@H&FA>JA@;N=&8:&<@;N@;9A:&A;A9A:N:&
@;&@8&`:??=9=5
fT ):F &L=?P:F & A;F<?JP@;<:8@F& >:;:; & Q?@F<A>A=( & FA;L=;M:H & F=;:<:H & 9=;9A@?<=H & 9J:?<@<=H&
<?M=555
gT #;&8:&PUFA9:&98mFA9:&Q?@N=PA;:&J;&9:?m9<@?&8A>@?=H&=Q<APAF<:&I&8JPA;=F=5

XX

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

F"#$0+2$/)2*-=1.)*+2$5.&$?&(2/'/21+

C=P= & @; & 8=F & Q@?M=N=F & :;<@?A=?@FH & 8: & =?^J@F<: & 98mFA9: & ?@:8AhG & 9:PKA=F & Q:?: & Q=N@?&
@DQ?@F:?F@&9=;&;=R@N:N5&%J;^J@&8=F&9:PKA=F&;=&LJ@?=;&<:;&>?:;N@F&9=P=&@;&@8&`:??=9=H&
:8>J;=F& F=;& N@&A;<@?bF5&#8&Q?AP@?=&@F&^J@H&9=; &C5* A5HI5 *I:C* F5N7*A789=8E7H&N@S: &N@&
JF:?F@&@8&98:R@5&#8&A;F<?JP@;<=&^J@&E:?m&FJF&R@9@FH&@F&N@9A?H&8:&J;AG;&=&@PQ:F<@&@;<?@&8=F&
A;F<?JP@;<=FH&@F&8:&9@7KL55&T:I&=<?=&A;F<?JP@;<=&N@&<@98:&^J@&FJ?>@&9=;&LJ@?h:&I&^J@&F@?m&
N@&RA<:8&APQ=?<:;9A:H&;=F&?@L@?AP=F&:8 &L=5875&#8&<@?9@?&A;F<?JP@;<=&9:?:9<@?MF<A9=&F@?m&@8&
AC5@=8:9:5
#8&5J@58I5K=:897*I:*C5*7@\E:>95&F@&N@K@H&FA;&NJN:H&:&
8:F & ;@9@FAN:N@F & ^J@ & ?@98:P: & 8: & ;J@R: & L=?P: & ^J@ & @F & 8:&
FA;L=;M:5&#F<=&FJ9@N@&@;&8:&L:PA8A:&N@&8:&9J@?N:H&^J@&:U;&
@F<:;N= & 9=PQJ@F<: & Q=? & 8=F & PAFP=F & A;F<?JP@;<=FH&
A;9?@P@;<: & FJ & ;UP@?= & N@ & @F<: & L=?P:( & 'O & RA=8A;@F&
Q?AP@?=FH & 'O & F@>J;N=FH & a & RA=8:FH & ] & RA=8=;9E@8=F & I & X&
9=;<?:K:S=F5 & 1A & F@ & 9=PQ:?: & FJ & ;UP@?= & 9=; & @8 & N@ & 8:&
=?^J@F<:&K:??=9:H&R@P=F&^J@&8:&=?^J@F<:&N@8&C8:FA9AFP=&@F&
K:F<:;<@&P:I=?5
):&PUFA9:&N@&9mP:?:&A;9?@P@;<:&FJ&Q@F=&9=;&8:&88@>:N:&
N@8 & C8:FA9AFP= & I & 8=F & <?@F & >?:;N@F & 9=PQ=FA<=?@F & N@ & @F<@&
Q@?M=N=(&Z5DI8B*(7`5@9*I*^::9<7M:8T
):&P:I=?&Q:?<@&N@&8:&PUFA9:&N@&9mP:?:&F@&?@:8Ah:&Q:?:&
QA:;=&=&:8>J;=&N@&8=F&9=;SJ;<=FH&NU=H&<?M=H&9J:?<@<=H&^JA;<@<=H&@<95H&I&@F&@;&<=?;=&:&@88:&9=P=&
<=P:&RAN:&@8&;J@R=&9=;9@Q<=&N@&F=;:<:H&LJ;N:P@;<:8&Q:?:&@;<@;N@?&<=N:&8:&PUFA9:&98mFA9:H&
^J@&<:PKAb;&<A@;@&@FQ@9A:8&?@8A@R@&@;&@8&QA:;=5

N"#$M+-1(2$1=2/'(&.2Q$2+)(*(`$2/)4+)D(`$'+)'/.-*+$B$'=(-*.*+"
WT+T_*-5*>78595

)=&@F@;9A:8&N@8&C8:FA9AFP=&@F&@8&?@FQ@<=&:&8:F&L=?P:F&I&:&8:&;=?P:H&N:N=&^J@&Q:?:&88@>:?&:&
@F:&Q@?L@99AG;&^J@&F@&Q?@<@;N@&8=&Q?AP@?=&@F&?@FQ@<:?&8:F&8@I@F&PJFA9:8@F5&kJF<:P@;<@&8:&
F=;:<:&?@FJP@&P@S=?&^J@&;:N:&@F<@&?@FQ@<=&:&8:&L=?P:&I&:&8:&;=?P:H&N:N=&^J@&@F<m&K:F:N:&
@;&@88=5
):&F=;:<:&^J@&E@P=F&RAF<=&;:9@?&NJ?:;<@&@8&`:??=9=H&9:PKA:&?:NA9:8P@;<@&9=;&8:&88@>:N:&
N@8 & C8:FA9AFP=H & N=<m;N=F@ & N@ & J;: & L=?P: & PJI & @F<?A9<: & ^J@ & N@K@ & F@>JA? & @8 & PUFA9=5 & )=F&
9:PKA=F&F=;(
+T 1=P@<APA@;<=&:&J;:&@F<?J9<J?:&PJI&N@<@?PA;:N:5
UT ,ARAFAG;&N@&8:&F=;:<:&@;&<?@F&=&9J:<?=&<A@PQ=F&cF=;:<:&<?AQ:?<A<:&=&9J:<?AQ:?<A<:BH&:&
8=F&^J@&QJ@N@&:;<@9@N@?&J;:&@FQ@9A@&N@&A;<?=NJ99AG;&8@;<:5
VT #8 & Q?AP@? & P=RAPA@;<= & @F & @8 & PmF & ;=?P:<AR= & I & F@ & 88:P: & L=?P: & N@ & F=;:<: & Q=?&
:;<=;=P:FA:5
WT #F<:K8@9APA@;<=&9=;&98:?AN:N&N@&8:F&?@8:9A=;@F&:?PG;A9:FH&@F&N@9A?H&N@&J;&8@;>J:S@&
<=;:8 & S@?:?^JAh:N= & 9=; & @8 & Q?@N=PA;A= & N@ & 8: & <G;A9: & c/BH & 8: & N=PA;:;<@ & cYBH & I&
FJKN=PA;:;<@&c/YB5

XZ

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

#F^J@P:&N@&F=;:<:&98mFA9:(
/5&)--&0/.
c4=?P:&N@&F=;:<:&
Q?=QA:P@;<@&NA9E:B

%5&#DQ=FA9AG;
`5&,@F:??=88=
%n5&.@9:QA<J8:9AG;

//5&)#)0$.,*I7>*7LA=78:> C=;&N=F&<@P:F(&4=?P:&)A@N
%;N:;<@&=&):?>=
C=;&J;&F=8=&<@P:
c<=;=&R@9A;=B
%5&3?AP@?&Q@?M=N=&c$A;J@<=B

///5&($"O&'.*7*
1%Z&/m.&c<=;=&8AK?@B

`5&1@>J;N=&Q@?M=N=&c"?M=B
%n5&"@?9@?&Q@?A=N=

/Y5&4$")-,*I7>*7LA=78:>
%88@>?=&=&3?@F<=
c<=;=&Q?A;9AQ:8B

/;<?=NJ99AG;55555&c=Q9A=;:8B
:B /&<@P:55555555555&@;&@8&<=;=&Q?A;9AQ:8
KB QJ@;<@5555555555&P=NJ8:;<@
9B //&<@P:5555555555&@;&J;&<=;=&R@9A;=
,@F:??=88=&<@Pm<A9=&P=NJ8:;<@
:nB&/&<@P:5555&@;&@8&<=;=&Q?A;9AQ:8
KnB&QJ@;<@5555&P=NJ8:;<@
9nB&//&<@P:5555&@;&@8&<=;=&Q?A;9AQ:8
C=N:
#;&L=?P:&<@?;:?A:H&%7`7%
"@P:&9=;&R:?A:9A=;@F(&%7%n7%r7%rny
'5#DQ=FA9AG;&N@8&<@P:&
!5`?@R@&@QAF=NA=&I
V5.@Q@<A9AG;&N@8&<@P:
'5#DQ=FA9AG;&N@8&<@P:&
!5`?@R@&@QAF=NA=&I
V5.@Q@<A9AG;&N@8&<@P:
.@Q@<A9AG;&@D:9<:&N@8&Q?AP@?=

4=?P:&F=;:<:&c9=P=&@8&Q?AP@?&<A@PQ=B
.=;NG( & "@P: & ^J@ & F@ & ?@QA<@ & R:?A:F & R@9@F & cX & G & ZBH & F@Q:?:N= & Q=?&
@QAF=NA=F&c%`%C%y%B
C=N:

WTUT_*-5*>=8G78H5

): &>=8G78H5& @F & J;: & >?:; & F=;:<: & Q:?: & =?^J@F<:z & FA>J@H & Q=? & @88=H & 8: & L=?P: & N@ & F=;:<:H&
:J;^J@H&:8&;=&F@?&J;&A;F<?JP@;<=&FG8=&@8&^J@&<=9:H&FA;=&<=N:&J;:&=?^J@F<:H&FJ@8@&F@?&J; &
Q=9=&PmF&9=PQ8@S:5
1=;&R:?A:F&8:F&A;L8J@;9A:F&^J@&?@9=>@&8:&FA;L=;M:H&:U;&FA@;N=&9A@?<=&^J@&:;<@&<=N=&@F&J;:&
F=;:<:(
+T ):&@R=8J9AG;&N@&8:&G'"!,.!%&%<%(,*&$BI5"!%5&T@P=F&RAF<=&^J@&8:&=K@?<J?:&@;&+mQ=8@F&
<@;M:&<?@F&P=RAPA@;<=F5&
UT %&@F<=F&<?@F&P=RAPA@;<=F&F@&:W:N@&J;&9J:?<=(&@8 &/*(.",3H&9=;&8=&^J@&<@;@P=F&8=F&
9J:<?=&P=RAPA@;<=F&N@&J;:&FA;L=;M:5
VT #F<=F&9:PKA=F&F=;&?@:8Ah:N=F&@;&@8&;=?<@&N@&/<:8A:H&Q=?&9=PQ=FA<=?@F&9=P=&0A=R:;;A&
15KK5@9=8=&I&)JA>A&^7AA<:@=8=5
WT 3:?@9AN=F&@DQ@?AP@;<=F&?@:8Ah:&:&<?:RbF&N@&8:&L=?P:&F=;:<:&:8>J;=&N@&8=F&;JP@?=F=F&
EAS=F&N@&`:9EH&9=P= &RT%<T*^5A<& I &nT*3<T*&T*^5A<H&^J@&<?:K:S:&@;&8:&9=?<@&N@&
4@N@?A9=&@8&0?:;N@H&@;&8:&@F9J@8:&N@&^:@CH85
XT f;:&F@>J;N:&9AJN:N&APQ=?<:;<@&@F &(588<:=KH&^J@&F@&9=;RA@?<@&@;&9@;<?=&N@&8:&
:9<ARAN:N & FA;LG;A9: & N@FN@ & '_ZO & >?:9A:F & :8 & Q?M;9AQ@ & @8@9<=? & i:?8 & "E@=N=? & I & FJF&
9=PQ=FA<=?@F&195K=9`H&.A9E<@?&I&C:;;:KA9E5
fT P=:85& @F&8:&<@?9@?: &>?:;&9AJN:N&N=;N@&F@&N:&8:&:9<ARAN:N&FA;LG;A9:5&):&9=?<@& N@&
YA@;:&:<?:M:&:&PJ9E=F&PUFA9=FH&I&:88M&F@&NA=&8:&PUFA9:&^J@&F@&9=;FAN@?G&9=P=&@8&
Q:?:NA>P:&N@&8:&PUFA9:&98mFA9:5

WTVT_*&C*A78A=:@97

):&PUFA9:&FA;LG;A9:&NJ?:;<@&@8&C8:FA9AFP=&<JR=&=<?:&L=?P:&PJI&APQ=?<:;<@H&@8&9=;9A@?<=&
F=8MF<A9=H & ^J@ & F@ & QJ@N@ & N@LA;A? & 9=P= & J;: &A7KL7>=A=?8 * L5@5 * 7@\E:>95 * D * E8*
=8>9@EK:897*>7C=>955&)=F&@8@P@;<=F&KmFA9=F&N@&@F<:&L=?P:&F=;(
X]

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!
!
!
!
!
!
!

#8&9=;9A@?<=&F=8MF<A9=&;=&<A@;@&;:N:&^J@&R@?&9=;&@8&9=;9@?<=&>?=FF=&K:??=9=5
#F&@;&?@:8AN:N&9=P=&J;:&FA;L=;M:&9=PQ:?<AN:&@;<?@&8:&=?^J@F<:&I&J;&F=8AF<:H&@;&8:&
^J@&:PK=F&<A@;@;&A>J:8&APQ=?<:;9A:5
): &L=?P:&N@8&9=;9A@?<=&@F&>@;@?:8P@;<@&8:&PAFP:&N@&8:&F=;:<:&I&N@&8:&FA;L=;M:5&1@&
NAL@?@;9A:& @; & ^J@ & ;=?P:8P@;<@ & <A@;@ & FG8= & <?@F & P=RAPA@;<=FH & Q?@F9A;NA@;N= & N@8&
PA;J@<=5
*<?: &NAL@?@;9A:& @F & ^J@ & 8=F & <@P:F & N@8 & Q?AP@? & P=RAPA@;<= & F=; & @DQJ@F<=F & Q=? & 8:&
=?^J@F<:&I&<:PKAb;&Q=?&@8&F=8AF<:H&@F&N@9A?H&FJ@8@;&<@;@?&9:N:&J;=&N=F&@DQ=FA9A=;@F5
#;&@F<:&L=?P:H&I&Q:?:&@8&8J9APA@;<=&N@8&F=8AF<:H&FJ@8@&E:K@?&J;:&9:N@;9A:&:8&LA;:8&N@8&
Q?AP@?&P=RAPA@;<=5
#8&U8<AP=&P=RAPA@;<=&@F&9:FA&FA@PQ?@&J;&?=;NGH&^J@&Q@?PA<@&8:&K?A88:;<@h&N@8&LA;:85
#8&8@;>J:S@&N@8&F=8AF<:&F@&@F9?AK@&@;&@F<A8=&RA?<J=F=&^J@&Q@?PA<:&FJ&8J9APA@;<=5

WTWT_*47@K5>*A5K:@H>9=A5>

#8&@F^J@P:&N@&F=;:<:&F@&JF:&Q:?:&@8&?@F<=&N@&8:F&L=?P:F&N@&9mP:?:H&N@&P:;@?:&^J@&J;&
NU=& @F&J;:&F=;:<:&Q:?:&N=F&A;F<?JP@;<=Fz&I&J; &9J:?<@<=H&J;:&F=;:<:&Q:?:&9J:<?=5&"=N:F&
QJ@N@; & L=?P:?F@ & 9=; & 9J:8^JA@? & 98:F@ & N@ & A;F<?JP@;<=F5 & 1@?m; & PJI & E:KA<J:8@F & 8=F &<?M=FH&
9J:?<@<=F&I&^JA;<@<=F5
*<?:F&L=?P:F&9:P@?MF<A9:F&^J@&N@?AR:;&N@&8:&FJA<@&F=;&8: &9:F:9AG;H&@8 &NAR@?<AP@;<=& I&8:&
F@?@;:<:5

a"#$0($%2'=.&($5.$_/.)(Q$6(B5)`$8+b(-*$B$L..*A+:.)
YA@;: & LJ@ & 8: & 9:QA<:8 & N@8 & 98:FA9AFP= & PJFA9:85 & %88M & N@F:??=88:?=; & FJ & =K?: & 8=F & <?@F&
9=PQ=FA<=?@F&PmF&APQ=?<:;<@F&N@8&C8:FA9AFP=&PJFA9:8(

4@58`*R7>:L<*Z5DI8*c+gVU_+deo6&;:9AG&@;&.=E?:J&c%JF<?A:B5&4J@&;AW=&9:;<=?&@;&
8:&9:<@N?:8&N@&1:;&#F<@K:;&N@&YA@;:H&I&LJ@&:J<=NAN:9<:&@;&8=&^J@&:&9=PQ=FA9AG;&F@&?@LA@?@5&
#;<?G&:8&F@?RA9A=&N@8&Q?M;9AQ@&#F<@?EmhIH&S@L@&N@&J;:&N@&8:F&L:PA8A:F&PmF&:9:JN:8:N:F&I&
Q=N@?=F:F&N@&8:&;=K8@h:&EU;>:?:H&9=;F:>?:N=&:&8:&PUFA9:&I&>@;@?=F=&P@9@;:F&N@&8:F&:?<@F5&
#F<JR=&:&FJ&F@?RA9A=&NJ?:;<@&<=N:&FJ&RAN:H&8=&^J@&8@&NA=&J;:&>?:;&@F<:KA8AN:N&Q:?:&N@NA9:?F@&
Q8@;:P@;<@ & : & 8: & PUFA9:5 & #; & @8 & Q:8:9A= & 9=;<:K: & 9=; & J;: & =?^J@F<: & N@ & J;=F & R@A;<A9A;9=&
PUFA9=F & I & N=9@ & 9:;<:;<@F5 & #F<@ & LJ@ & @8 & 8:K=?:<=?A= & @; & @8 & ^J@H & :AF8:N= & N@8 & PJ;N=H & QJN=&
?@:8Ah:?&<=N=&<AQ=&N@&@DQ@?AP@;<=F&PJFA9:8@FH&Q=?&8=&^J@&88@RG&:&8:&L=?P:&F=;:<:&:&J;&:8<=&
>?:N= & N@ & Q@?L@99AG;H & @F9?AKA@;N= & F@>U; & @F<@ & @F^J@P: & =K?:F & Q:?: & <@98:N=H & FA;L=;M:FH&
9J:?<@<=FH&9=;9A@?<=F&@;&J;&>?:;&;UP@?=H&^J@&@F&9:FA&APQ=FAK8@&N@&N@<@?PA;:?H&I:&^J@&@;&FJ&
RAN:&;=&F@&9=;L@99A=;G&;A;>U;&9:<m8=>=&9=PQ8@<=&;A&LAN@NA>;=5&
#F9?AKAG&'OX&FA;L=;M:FH&:8>J;:F&9=;=9AN:F&Q=?&FJ&F=K?@;=PK?@&cD*$*,%!H&G=;3!)H&N@&$31&
>)*31"1H&N@8&W"$3HH&43!5!"1%BH&PmF&N@&_O&9J:?<@<=F&I&=K@?<J?:FH&9=;9A@?<=FH&NAR@?<AP@;<=FH&
F@?@;:<:FH&<?M=F&Q:?:&RA=8:&NA&K=?N=;@&c^J@&@?:&@8&A;F<?JP@;<=&^J@&<=9:K:&@8&Q?M;9AQ@&Q:?:&@8&
^J@&<?:K:S:K:BH&X_&F=;:<:F&Q:?:&QA:;=H&!]&GQ@?:FH&X&=?:<=?A=FH&PAF:FH&9:;<:<:FH&9:;9A=;@FH&
:?A:FH&@<95&
b7CGJ58J*)K5I:E>*(7`5@9*c+gXf_+go+6& @F&J;:&N@&8:F&LA>J?:F&PmF&N@F<:9:N:F&
N@8&C8:FA9AFP=&I&N@&8:&EAF<=?A:&N@&8:&PUFA9:5&4J@&;AW=&Q?=NA>A=H&PUFA9=&>@;A:8H&N@&@FQM?A<J&
8AK?@&I&9?@:<AR=H&N@&Q@?F=;:8AN:N&?@K@8N@&I&:<=?P@;<:N:H&N@;<?=&N@&J;:&F=9A@N:N&@;&8:&^J@&
@8&PUFA9=&FG8=&Q=NM:&F=K?@RARA?&:8&F@?RA9A=&N@&J;&Q:<?G;5&#;&'_a!&$=h:?<&N@9AN@&N@S:?&:8&
:?h=KAFQ=&N@&1:8hKJ?>=H&FJ&9AJN:N&;:<:8H&Q:?:&^JA@;&<?:K:S:K:&N@FN@&'_]6H&I&<?:<:&N@&RARA?&
N@&FJF&9=;9A@?<=F&I&N@&FJ&=K?:5&3@?=&@8&QUK8A9=H&^J@&Q=?&@;<=;9@F&9=P@;h:K:&:&Q:>:?&Q=?&
X_

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

:FAF<A? & : & 8=F & 9=;9A@?<=FH & NA9<:K: & 8= & ^J@ & N@F@:K: & @F9J9E:?5 & ): & =K?: & N@ & $=h:?< & ;= & LJ@&
R:8=?:N:H&I&9=;&8:&@D9@Q9AG;&N@&:8>J;=F&bDA<=FH&F@&RA=&P:?>A;:N=&@;&8:&Q=K?@h:H&I&@;&@88:&
PJ?AG&9=;&<:;&FG8=&<?@A;<:&I&9A;9=&:W=F5
):F&A;;=R:9A=;@F&N@&$=h:?<&;=&@F<m;&<:;<=&@;&@8&N@F:??=88=&N@&8:F&L=?P:F&9=P=&@;&@8&
8@;>J:S@& ^J@&@PQ8@:&@;&@88:F5&$=h:?< &:U;: &@8 &8@;>J:S@ &N@&8: &<?:NA9AG; &9=;<?:QJ;<MF<A9:&
:8@P:;:&9=;&@8&P@8GNA9=&I&@DQ?@FAR=&N@&8:&A<:8A:;:5&%&@88=&8@&:W:N@&8:&F=8AN@h&@F<?J9<J?:8&N@&
T:IN; & I & J;: & LJ@?h: & @P=9A=;:8H & ?A^J@h: & :?PG;A9: & I & @DQ?@FAG; & P@8GNA9: & ^J@ & 88@R:; & :8&
C8:FA9AFP=&:&FJ&9J8P@;5&#F<=&F@&:Q?@9A:&F=K?@&<=N=&@;&FJF&U8<AP:F&=K?:FH&^J@&:QJ;<:;&E:9A:&
J;:&;J@R:&@<:Q:5
%&Q@F:?&N@&FJ&9=?<:&@DAF<@;9A:H&@F9?AKAG&PmF&N@&_ZO&=K?:F5&#;&FJ&PUFA9:&F=?Q?@;N@&8:&
<@?;J?:H&;:<J?:8AN:N&I&@FQ=;<:;@AN:N5&1J&L:9A8AN:N&N@&:FAPA8:9AG;&I&FJF&;JP@?=F=F&RA:S@F&8@&
EA9A@?=; & Q=F@@N=? & N@ & J; & @F<A8= & N=;N@ & 8: & R@;: & P@8GNA9: & A<:8A:;: & F@ & @;<?@P@h98: & 9=; & 8:&
@8@>:;9A: & L?:;9@F: & I & 9=; & 8: & :JF<@?AN:N & N@8 & FA;L=;AFP= & >@?P:;=5 & ,@;<?= & N@ & FJ & =K?:&
A;F<?JP@;<:8 & N@K@; & N@F<:9:?F@ & FJF & F=;:<:F & Q:?: & QA:;= & I & Q:?: & RA=8M; & I & QA:;=H & FJF & !Z&
9=;9A@?<=F&Q:?:&QA:;=&I&=?^J@F<:H&'V&9=;9A@?<=F&Q:?:&RA=8M;&I&=?^J@F<:&I&'!&Q:?:&NAL@?@;<@F&
A;F<?JP@;<=F5&3:?:&PUFA9:&N@&9mP:?:&@F9?AKAG&A;;JP@?:K8@F&^JA;<@<=FH&9J:?<@<=F&I&<?M=F5&
C=PQJF= & X' & FA;L=;M:FH & <=N:F & @88:F & N@ & 9=?<@ & ?@LA;:N= & I & :?AF<=9?m<A9=5 & #;<?@ & @88:F & 9:K@&
P@;9A=;:?&8:F&FA;L=;M:F&F%;;("!H&A*(PH&T!%#%&I&XL5*,"!5

-EIl=J*M58*^::9<7M:8*c+gge_+dUg6& @F&J;=&N@&8=F&PUFA9=F&PmF&?@8@R:;<@F&N@&
<=N:&8:&EAF<=?A:&N@&8:&PUFA9:5&`@@<E=R@;&@F&J;=&N@&8=F&U8<AP=F&9=PQ=FA<=?@F&N@8&C8:FA9AFP=&
I&@F&^JA@;&;=F&A;<?=NJ9@&N@&88@;=&@;&@8&FA>JA@;<@&Q@?A=N=H&@8&.=P:;<A9AFP=5&p8&@F&^JA@;&
N@LA;@&9=;&FJ&PUFA9:&PJ9E=F&N@&8=F&Q?A;9AQA=F&@F<b<A9=F&F=K?@&8=F&^J@&F@&LJ;N:P@;<:?M:&
@F<:&;J@R:&@<:Q:5&%&NAL@?@;9A:&N@&8:&P:I=?M:&N@&9=PQ=FA<=?@F&:;<@?A=?@F&:&b8H&`@@<E=R@;&;=&
@F9?AKAG & PUFA9: & Q:?: & 9=PQ8:9@? & : & J; & Q:<?G; & ?A9=H & FA;= & ^J@ & 8J9EG & Q:?: & ;= & <@;@? & ^J@&
N@Q@;N@?&N@&;A;>U;&K@;@L:9<=?&I&Q=N@?&9=PQ=;@?&8AK?@P@;<@&8=&^J@&b8&N@F@:?:5&
T:KA<J:8P@;<@&F@&E:&NARANAN=&FJ&RAN:H&FJ&=K?:&I&@F<A8=&@;&<?@F&Q@?A=N=F5&#8&Q?AP@?=&N@&
@88=F&PJ@F<?:&8:&98:?:&A;L8J@;9A:&N@&$=h:?<&I&F=K?@&<=N=&N@&T:IN;H&N@&^JA@;&`@@<E=R@;&
?@9AKAG&:8>J;:F&8@99A=;@F&@;&YA@;:5&#;&@F<:&Q?AP@?:&@<:Q:&`@@<E=R@;&F@;<A?M:&9=;&<@??=?&8=F&
Q?AP@?=F&FM;<=P:F&N@&FJ&F=?N@?:H&8=&^J@&8@&Q?=NJS=&J;:&Q?=LJ;N:&9?AFAF&Q@?F=;:85&
`@@<E=R@; & FJQ@?G & @F<: & N@Q?@FAG; & ?@LJ>Am;N=F@ & @; & 8: & PUFA9:5 & 1J & F@>J;N= & Q@?M=N= & F@&
Q?=8=;>: & E:F<: & 'a']5 & 1@ & 9:?:9<@?Ah: & Q=? & :8@S:?F@ & 9:N: & R@h & PmF & N@8 & C8:FA9AFP= & 9=;&
9=;F<?J99A=;@F & >?:;NA=F:F & I & 88@;:F & N@ & Q?=LJ;N=F & F@;<APA@;<=FH & :8 & PAFP= & <A@PQ= & ^J@&
Q?=LJ;NAh:&@;&@8&N@F:??=88=&<@Pm<A9=&@;&FJF&FA;L=;M:F5&
#8&<@?9@?&Q@?A=N=&@F<m&P:?9:N=&Q=?&FJ&:AF8:PA@;<=&N@8&PJ;N=&:&9:JF:&N@&8:&F=?N@?:5&1@&
?@LJ>A:&Q=?&9=PQ8@<=&@;&FJ&AP:>A;:9AG;H&9=;&8=&^J@&9=PQ=;@&FJF&=K?:F&PmF&APQ=?<:;<@FH&
8:F & PmF & Q@?F=;:8@F & I & 8:F & PmF & :R:;h:N:F & PJFA9:8P@;<@( & 8: & 1A;L=;M: & ;x & 6H & 8=F & U8<AP=F&
9J:?<@<=F&I&F=;:<:F&Q:?:&QA:;=5&1J&8@;>J:S@&@F&Q8@;:P@;<@&?=Pm;<A9=&@;&8:&L=?P:&I&@;&8:&
@DQ?@FAG;5&
#;<?@& =<?:F& :Q=?<:9A=;@FH & `@@<E=R@;& P=NALA9G &8:F & L=?P:F & 98mFA9:F &Q@?L@99A=;:N:F & Q=?&
T:IN;&I&$=h:?<&I&8:F&@DQ:;NAGH&8@F&NA=&P:I=?&:PQ8A<JN&I&9:Q:9AN:N&@DQ?@FAR:H&8@F&NA=&@F:&
8AK@?<:N&Q=?&8:&^J@&b8&PAFP=&8J9E:K:&N@;<?=&N@&8:&F=9A@N:N5&#8&N?:P:<AFP=&I&8=F&9=;L8A9<=F&
= & 9=;<?:F<@F & @P=9A=;:8@F & F=; & ?:F>=F & @F@;9A:8@F & N@8 & @F<A8= & N@ & `@@<E=R@;5 & 1JF & =K?:F&
9=;<A@;@; & J;: & @;@?>M: & Q=N@?=F:H & : & P@;JN= & RA=8@;<:H & N@ & 9=;NJ99AG;& ?M<PA9:H & @; & 8: & ^J@&
@DQ8=<:&8=F&9=;<?:F<@F&<MPK?A9=F&I&NA;mPA9=F5&3@?=&<:PKAb;&N=PA;:&@8&8@;>J:S@&P@8GNA9=H&
88@;=&N@&F@;<APA@;<=H&^J@&?@L8@S:&@FQ@9A:8P@;<@&@;&FJF&P=RAPA@;<=F&8@;<=F5

Xa

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

'&()*dT*-)*(a1$%)*P.%)-*&"*&-*%-)1$%$1(.
O57&/;<?=NJ99AG;
'57&$UFA9:&R=9:8&Q?=L:;:
\Q@?:&F@?A:
\Q@?:&KJL:
!/<:8A:(&A;<@?P@hh=&I&GQ@?:&KJL:
!4?:;9A:(&):&=Qb?:&9=PA^J@
!/;>8:<@??:(&):&`:88:N7=Q@?:
!%8@P:;A:(&#8&1A;>FQA@8
):&?@L=?P:&N@&8:&GQ@?:
!08J9
!$=h:?<
!57&$UFA9:&R=9:8&?@8A>A=F:
$=h:?<
T:IN;
`@@<E=R@;

T"#$<IOY3JZ??<[I

#8 & C8:FA9AFP=& 9=PQ?@;N@& N@FN@& 8:& PA<:N&N@8& FA>8= &[Y/// &E:F<:& @8 & LA;:8 & N@8& FA>8=5&
C=;<A;U:; & 8:F&>?:;N@F&P=;:?^JM:F&:KF=8J<:F &RARA@;N= &?=N@:N:F&N@ &8JS=H &Q@?=&Q=? & Q=9=&
<A@PQ=H&8:&.@R=8J9AG;&4?:;9@F:&:9:K:&9=;&@F<@&:KJF=&N@&Q=N@?&I&N@&N@??=9E@&A??:9A=;:85&
1J?>@&J;:&98:F@&PJI&LJ@?<@H&8:&KJ?>J@FM:H&N@FN@&8:&9J:8&F@&APQJ8F:&J;&>?:;&P=RAPA@;<=&
9J8<J?:8&I&Q?=>?@FAF<:H&8:&/8JF<?:9AG;H&^J@&Q?=PJ@R@&8=F&AN@:8@F&N@&A>J:8N:N&I&KA@;@F<:?&Q:?:&
<=N=F&:&<?:RbF&N@&8:&@NJ9:9AG;&I&N@8&9=;=9APA@;<=5
#; & @8 & :?<@H & @8 &@F<A8= &+@=98mFA9= & @F &@8 & F@>J;N= &?@<=?;= &: &8=F &AN@:8@F &N@& 8: & 9J8<J?:&
98mFA9:5&#8&Q?AP@?&?@<=?;=&F@&NA=&@;&@8&.@;:9APA@;<=5&*<?:&R@hH&8:&?:hG;H&8:&A;<@8A>@;9A:&I&@8&
F@;<AN=&9=PU;&KJF9:;&8:&K@88@h:&I&@8&@^JA8AK?A=&<:PKAb;&@;&@8&:?<@5&0JF<:;&8:F&FAP@<?M:F&I&@8&
=?N@;5
):&PUFA9:&F@?m&J;&@;<?@<@;APA@;<=&^J@&FA?R@&Q:?:&E:9@?&8:&RAN:&PmF&:P:K8@H&@F&J;&
Q@^J@W=&Q8:9@?5&):&PUFA9:&98mFA9:&@F&@8@>:;<@H&A;>@;A=F:&I&FAPQ8@5&)=&N?:Pm<A9=&E:&Q:F:N=&
N@&P=N:5

!"#$8]E<?G$_3?G0$CY3MGIG
+T+T_*j3&/)*1&/$)

): & GQ@?:&F@?A:&A<:8A:;: &?@9AKAG&FJ&L=?PJ8:9AG;&98mFA9: &N@&Q:?<@&N@8&Q=@<:&A<:8A:;=&

3A@<?=* (:95>95>=7& c']6a7'_a!BH&9JI=F&N?:P:F&LJ@?=;&QJ@F<=F&@;&PUFA9:&9@;<@;:?@F&N@&
R@9@F&Q=?&8=F&9=PQ=FA<=?@F&N@8&FA>8=&[Y///5&
!
!
!

!
!

C:?:9<@?MF<A9:F(
#F<:F&=K?:F&Q?@F@;<:K:;&J;&9=;L8A9<=&N@&Q:FA=;@F&EJP:;:F&@;&J;:&:99AG;&K:F:N:&@;&
:8>J;:&EAF<=?A:&N@&J;&:J<=?&>?A@>=&=&8:<A;=&98mFA9=5&
#8&9J?F=&N@&8:&:99AG;&N:K:&=Q=?<J;AN:N&Q:?:&Q?@F@;<:?&@F9@;:F&R:?A:N:F&I&:&P@;JN=&
8:&?@F=8J9AG;&N@8&N?:P:&>A?:K:&@;&<=?;=&:&:8>U;&:9<=&N@&E@?=MFP=&=&N@&?@;J;9A:&Q=?&
Q:?<@&N@&J;=&N@&8=F&Q?=<:>=;AF<:F5&
):&=K?:&F@&NARANM:&@;&<?@F&:9<=FH&@;&8=F&9J:8@F&F@&:8<@?;:K:;&:?A:F&I&?@9A<:<AR=F(&@;&8=F&
?@9A<:<AR=F&F@&N@F:??=88:K:&8:&:99AG;H&PA@;<?:F&^J@&@;&9:N:&:?A:&J;&:9<=?&Q?A;9AQ:8&N@&
8:&@F9@;:&Q?@9@N@;<@&F=8M:&@DQ?@F:?&F@;<APA@;<=F&?@L@?@;<@F&:&8:&FA<J:9AG;&Q:?<A9J8:?&
N@8&P=P@;<=&N@&8:&<?:P:5
T:KM:&NU=F&=9:FA=;:8@FH&Q=9=F&9=;SJ;<=F&>?:;N@F&I&Q=^JMFAP=F&9=?=F5&
):&=?^J@F<:H&:Q:?<@&N@&8:&=K@?<J?:H&FG8=&:9=PQ:W:K:&:&8=F&9:;<:;<@F5
X6

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

#8&?@9A<:<AR=&9:?@9M:&N@&APQ=?<:;9A:&PJFA9:8&I&FG8=&F@&:9=PQ:W:K:&9=;&@8&98:R@&I&
:8>U;&A;F<?JP@;<=&>?:R@5

#8&A;<@?bF&PJFA9:8&F@&9@;<?:K:&@;&8:F&:?A:F5&):&L=?P:&PmF&9=PU;&@?:&@8&:?A:&N:&9:Q=H&
:J;^J@&E:9A:&P@NA:N=F&N@&FA>8=&F@&R=8RAG&PmF&9=PU;&@8&Q?=9@NAPA@;<=&N@&@F9?AKA?&:?A:F&@;&
J; & F=8= & P=RAPA@;<= & 9=; & J; & @F^J@P: & <=;:8 & F@P@S:;<@ & :8 & N@ & 8: & F=;:<: & I &!*,3!("$$31&
=?^J@F<:8@F&9=P=&@;&@8&9=;9@?<=5&#8&E@9E=&N@&^J@&@8&A;<@?bF&PJFA9:8&LJ@?:&@D98JFAR=&N@8&:?A:&
=9:FA=;G&A;;JP@?:K8@F&:KJF=F&Q=?&Q:?<@&N@&8=F&9:;<:;<@FH&@FQ@9A:8P@;<@&N@&8=F &+%1,!%,*&
A<:8A:;=F5 & #F<=F & 9:;<:;<@F & L=?PJ8:K:; & @DA>@;9A:F & :?KA<?:?A:F & : & Q=@<:F & I & 9=PQ=FA<=?@FH&
=K8A>m;N=8@F & : & :8<@?:?H & :W:NA? & I & FJF<A<JA? & :?A:FH & FA; & ?@FQ@<= & :8>J;= & Q=? & 8: & AN=;@AN:N&
N?:Pm<A9: & = & PJFA9:85 & %N@PmFH & 8:F & =?;:P@;<:9A=;@F & P@8GNA9:F & I & 8:F &+%)"(P%1& ^J@ & 8=F&
9:;<:;<@F & :W:NM:; & : & R=8J;<:N & @?:; & 9=; & L?@9J@;9A: & N@FQ8A@>J@F & N@ & :9?=K:9A: & R=9:8H & N@&
NJN=F=&R:8=?&PJFA9:8&=&@F<b<A9=5

+TUT_*j3&/)*^O4)

#8 & <b?PA;= & GQ@?: & 9GPA9: & A;NA9: & =K?:F & N@ & @F<A8= & PmF & 8A>@?= & ^J@ & 8: & GQ@?: & F@?A:z&
Q?@F@;<:; & @F9@;:F & I & Q@?F=;:S@F & L:PA8A:?@F & @; & R@h & N@ & <@P:F & E@?=A9=F & = & PA<=8G>A9=F & I&
?@^JA@?@;&?@9J?F=F&N@&@S@9J9AG;&?@8:<AR:P@;<@&P=N@F<=F5&%FJPAG&NAL@?@;9A:F&;:9A=;:8@FH&
:J;^J@&@;&<=N:F&Q:?<@F&?@Q?@F@;<G&J;:&?@RJ@8<:&:?<MF<A9:&9=;<?:&8:&GQ@?:&F@?A:&=&<?m>A9:&
A<:8A:;:5 & )=F & 8AK?@<=F & @F<:K:; & @; & 8@;>J:F & R@?;m9J8:FH & I & 8: & PUFA9: & <@;NM: & : & :9@;<J:? & @8&
8@;>J:S@&PJFA9:8&8=9:85&):&GQ@?:&9GPA9:&9?@9AG&9=;<A;J:P@;<@&@;&APQ=?<:;9A:&N@FQJbF&N@&
'_]OH&I&:;<@F&N@&LA;@F&N@&FA>8=&PJ9E=F&N@&FJF&?:F>=F&9:?:9<@?MF<A9=F&F@&RA@?=;&:KF=?KAN=F&
Q=?&8:&9=??A@;<@&Q?A;9AQ:8&N@&9=PQ=FA9AG;&=Q@?MF<A9:5
+TUT+T_*$')-$),*$89:@K:``7*D*?L:@5*FEG5
f;&APQ=?<:;<@&<AQ=&N@&GQ@?:&9GPA9:&A<:8A:;:&LJ@&@8&A;<@?P@hh=H&9JI=&;=PK?@&RA@;@&
N@&8:&9=F<JPK?@&N@&Q?@F@;<:?&K?@R@F&A;<@?8JNA=F&PJFA9:8@F&9GPA9=F&@;<?@&8=F&:9<=F&N@&J;:&
GQ@?:&F@?A:5&f;=&N@&FJF&Q?A;9AQ:8@F&P:@F<?=F&LJ@&3:@J7C:>=H&9JI:&=K?:&A%&1"!<%&5%)!3(%&
LJ@ & 9=PQJ@F<: & Q:?: & F@? & A;<@?Q?@<:N: & 9=; & FJ & Q?=QA= &U$ & 5!*#*3("! & 1.5"!'3H & @; & '_VVH & @;&
+mQ=8@F5&#F<m&@F9?A<:&Q:?:&K:S=&I&F=Q?:;=&9=;&=?^J@F<:&N@&9J@?N:FH&I&FJ&@F<A8=&@F&9GPA9=H&
:;AP:N=&I&8A>@?=5
):&P:I=?&A;L8J@;9A:&N@&@F<@&<AQ=&N@&GQ@?:&F@?m&8:&@DQ8=<:9AG;&N@&8:F&Q=FAKA8AN:N@F&N@&
8:&R=h&N@&K:S=&I&@8&;*(%$"&N@&9=;SJ;<=(&Q:?:&8:&9=;98JFAG;&N@&J;&:9<=&F:8@;&>?:NJ:8P@;<@&:&8:&
@F9@;:&<=N=F&8=F&Q@?F=;:S@FH&PA@;<?:F&8:&:99AG;&Q?=FA>J@&9=;&9?@9A@;<@&:;AP:9AG;&E:F<:&^J@&
8:&PAFP:&:89:;h:&FJ&9J8PA;:9AG;H&@;&8:&9J:8&Q:?<A9AQ:;&<=N=F&8=F&9:;<:;<@F&N@8&@8@;9=5&#;&
@F<@ & <AQ= & N@ & LA;:8 & 8=F & 9=PQ=FA<=?@F & F@ & RA@?=; & L=?h:N=F & : & F@>JA? & 8: & :99AG; & ?mQAN:P@;<@&
9:PKA:;<@&N@&8:&@F9@;:&FA;&Q@?N@?&9=E@?@;9A:&@;&8:&L=?P:&PJFA9:85
1@ & Q?=NJS= & J; & ?@LA;:PA@;<= & N@8 & 8AK?@<= & N@ & 8: & GQ@?: & 9GPA9:H & @; & Q:?<@ & >?:9A:F & :8&
N?:P:<J?>=&A<:8A:;=&%5@C7*07CI78=(&9=P@;h:?=;&:&:Q:?@9@?&<?:P:F&N@&J;&9:?m9<@?&F@?A=H&
F@;<AP@;<:8&=&Q:<b<A9=H&:FM&9=P=&8:F&<?:NA9A=;:8@F&9GPA9:F5&%FMH&8:&=Q@?:&KJL:&9=P@;hG&:&
88:P:?F@ &5-(11( $ ,/+'+2+5 & %FMH & <@;@P=F &A% & '.3(% & ;*#$*.3$%& N@ & 3A99A;;AH &A% & 1"!<%&
T%)!3(% &N@&3:AFA@88=&= &U$&/%,!*/3(*3&1"#!",3& N@ &#7K:8=A7& %=K5@7>55&%FMH&8:&GQ@?:&
KJL:&:R:;hG&J;&8:>=&<?@9E=&@;&@8&:FQ@9<=&<@:<?:8&9=P=&@;&@8&PJFA9:8&:&8=&8:?>=&N@&<=N=&@8&
FA>8=&[Y///H&9=;&8=&^J@&@8&9:PA;=&@F<:K:&Q?@Q:?:N=(&$=h:?<&FJQ=&@PQ8@:?&PJI&KA@;&FJ&
E@?@;9A: & N@ & <@:<?= & 9GPA9=H & F@?A= & I & F@;<AP@;<:8H & P@h98:N: & 9=; & J; & @F<A8= & PJFA9:8 & RAR= & I&
L8@DAK8@5
+TUTUT_*4/)"%$)T*-5*7Li@5*A7K=\E:
#;&4?:;9A:H&8:&R@?FAG;&;:9A=;:8&N@&8:&GQ@?:&8A>@?:&F@&9=;=9M:&9=P=&35C!%&+3/*0."5&
ZO

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

C=P@;hG&E:9A:&'_'O&9=P=&J;:&L=?P:&PmF&KA@;&K:S:&N@&@;<?@<@;APA@;<=&Q=QJ8:?5&):&RAFA<:&
N@&J;:&9=PQ:WM:&N@&GQ@?:F&9GPA9:F&A<:8A:;:F&@;&3:?MF&@;&'_Z!&@F<APJ8G&8:&Q?=NJ99AG;&N@&
=Qb?:F&9=PA^J@FH&@;&8:F&^J@&F@&A;<?=NJS@?=;&:A?@F&=?A>A;:8@F&SJ;<=&:&P@8=NM:F&Q=QJ8:?@FH&
^J@&LJ@?=;&Q=9=&:&Q=9=&FJF<A<JAN:F5&#;&@F<:&35C!%&+3/*0."&F@&J<A8Ah:K:&@8&NAm8=>=&E:K8:N=&
@;&8J>:?&N@8&?@9A<:<AR=H&A>J:8&^J@&@;&<=N:F&8:F&L=?P:F&;:9A=;:8@F&N@&GQ@?:&8A>@?:H&F:8R=&8:&
A<:8A:;:5 & ,J?:;<@ & 8: & F@>J;N: & PA<:N & N@8 & FA>8= & :FJPAG & J; & <A;<@ & ?=Pm;<A9= & I & @; & :8>J;=F&
8AK?@<=F & F@ & <?:<:?=; & 9=; & :JN:9A: & 8=F & <@P:F & F=9A:8@F & 9:;N@;<@F & ^J@ & :>A<:?=; & : & 4?:;9A:&
NJ?:;<@&8=F&:W=F&:;<@?A=?@F&:&8:&.@R=8J9AG;5&4J@&PJI&Q=QJ8:?&NJ?:;<@&8:&.@R=8J9AG;&I&8:&
@?:&;:Q=8@G;A9:&I&:N^JA?AG&J;:&FA>;ALA9:9AG;&PJFA9:8&9:N:&R@h&P:I=?&NJ?:;<@&@8&Q@?M=N=&
?=Pm;<A9=5
+TUTVT_*$"0-)'&//)T*^5CC5I_7L:@5
):&K:88:N7=Q@?:&A;>8@F:&:F9@;NAG&:&8:&Q=QJ8:?AN:N&<?:F&@8&bDA<=&@D<?:=?NA;:?A=&N@&K7"&
9"##%!B1&G5"!%& N@&k=E;&0:IH&@;&)=;N?@FH&@;&'_!a5&#F<:&=K?:&F:<A?Ah:K:&:KA@?<:P@;<@&8:&
GQ@?: & A<:8A:;: & N@ & P=N:H & I & FJ & PUFA9:H & 9=P= & 8: & N@ & 8: &35C!% & +3/*0."& Q?APA<AR:H & @F<:K:&
L=?P:N:&@;&FJ&P:I=?&Q:?<@&Q=?&P@8=NM:F&Q=QJ8:?@F&cK:8:N:FB&9=;&:8>J;:F&Q:?=NA:F&N@&:A?@F&
=Q@?MF<A9=F&9=;=9AN=F5&):&A;P@;F:&Q=QJ8:?AN:N&N@&8:F&GQ@?:F&N@&K:8:N:F&@;&8:&Nb9:N:&N@&
'_VO&LJ@&J;=&N@&8=F&FA>;=F&N@&8:&?@:99AG;&>@;@?:8&^J@&F@&Q?=NJS=&@;&/;>8:<@??:&9=;<?:&8:&
GQ@?:&@D<?:;S@?:5
+TUTWT_*)-&()"$)T*1=8J>L=:C
#; & %8@P:;A: & FJ?>AG & J;: & L=?P: & N@ & GQ@?: & 9GPA9: & N@;=PA;:N: &1*(#15*"$& E:9A:&
P@NA:N=F&N@8&FA>8=&[Y///5&)=F&Q?AP@?=F&FA;>FQA@8&LJ@?=;&:N:Q<:9A=;@F&N@&GQ@?:F&&K:8:N:F&
A;>8@F:FH & Q@?= & 8=F & 8AK?@<AF<:F & Q?=;<= & @PQ@h:?=; & : & JF:? & @; & FJ & KUF^J@N: & N@ & P:<@?A:8&
<?:NJ99A=;@F & = & :??@>8=F & N@ & GQ@?:F & 9GPA9:F & L?:;9@F:FH & Q:?: & 8:F & ^J@ & 8=F & 9=PQ=FA<=?@F&
@F9?AKA@?=;&PUFA9:&;J@R:&@;&J;:&R@;:&P@8GNA9:&;:9A=;:8H&L:PA8A:?&I&:<?:9<AR:5&$J9E:F&N@&
8:F&P@8=NM:F&N@&8=F&1*(#15*"$"!&N@8&FA>8=&[Y///&LJ@?=;&A;9=?Q=?:N:F&:&9:;9A=;@?=F&:8@P:;@F&
Q:?: & <@?PA;:? & Q=? & 9=;R@?<A?F@ & @; & 9:;9A=;@F & Q=QJ8:?@F5 & #; & @8 & ;=?<@ & N@ & %8@P:;A:H & @8&
1*(#15*"$&<@?PA;G&Q=?&LJ;NA?F@&9=;&8:&GQ@?:&?=Pm;<A9:&;:<AR:&N@&9=PA@;h=F&N@8&[/[5&#;&@8&
FJ?H&@FQ@9A:8P@;<@&@;&YA@;:H&@F<:K:;&N@&P=N:&8=F&<@P:F&I&8=F&<?:<:PA@;<=F&N@&L:?F:H&9=;&
J;:&PUFA9:&:;AP:N:H&N@&@F<A8=&Q=QJ8:?H&A;L8JAN:&Q=?&8:&GQ@?:&9GPA9:&A<:8A:;:5&#8&1*(#15*"$&
:8@Pm;&<JR=&APQ=?<:;9A:&9=P=&:;<@9@N@;<@&EAF<G?A9=&N@&8:F&=K?:F&<@:<?:8@F&PJFA9:8@F&N@&
$=h:?<5

+TVT_*-)*/&4./()*.3&/!1'$%)*#&*0-O%n*2*(.m)/'

#8 & 9=PA@;h= & N@ & 8: & ?@L=?P: & =Q@?MF<A9: & 9=A;9ANAG & 9=; & @8 & ;:9APA@;<= & N@8 &"1,*$3&
"=5!"1*<3H&8=&9J:8&@?:&J;&FA>;=&N@&8:&9?@9A@;<@&A;L8J@;9A:&N@&8:F&AN@:F&N@&8:&98:F@&P@NA:&
F=K?@&8=F&P=8N@F&@F<?@9E=F&I&:?AF<=9?m<A9=F&N@&8:&Q?AP@?:&Q:?<@&N@8&FA>8=5&CJ:;N=&:8>J;=F&
9=PQ=FA<=?@F&A<:8A:;=F&9=P@;h:?=;&:&A;<@;<:?&F@?A:P@;<@&Q=;@?&N@&:9J@?N=&8:&GQ@?:&9=;&
8=F&9:PKA:;<@F&AN@:8@F&N@&8:&PUFA9:&I&@8&<@:<?=H&FJF&@FLJ@?h=F&F@&NA?A>A@?=;&:&E:9@?&PmF&
;:<J?:8&<=N:&FJ&NAFQ=FA9AG;(&L8@DAKA8Ah:?&FJ&@F<?J9<J?:H&R=8R@?&PmF&Q?=LJ;N:P@;<@&@DQ?@FAR=&
FJ&9=;<@;AN=H&N@F9:?>:?8:&N@&:>A8AN:N@F&I&E:9@?8:&PmF&R:?A:N:&@;&P:<@?A:&N@&=<?=F&?@9J?F=F&
PJFA9:8@F5 & += & F@ &:K:;N=;G& @8 &%!*% & )% &+%53H & FA;= & ^J@& LJ@ & P=NALA9:N:z & F@& JF:?=;& =<?:F&
L=?P:FH&F@&:8<@?;:?=;&PmF&L8@DAK8@P@;<@&:?A:F&I&?@9A<:<AR=FH&Q:?:&E:9@?&:R:;h:?&8:&:99AG;&
9=;&P:I=?&?:QAN@h&I&?@:8AFP=z&F@&J<A8AhG&@;&P:I=?&Q?=Q=?9AG;&@8&?@9A<:<AR=&:9=PQ:W:N=z&8:&
=?^J@F<: & F@& R=8RAG & PmF& APQ=?<:;<@z & 8=F& 9=?=F&?@:Q:?@9A@?=; & I& EJK= &J; &@;NJ?@9APA@;<=&
>@;@?:8&N@&8:&?@FAF<@;9A:&9=;<?:&8:F&@DA>@;9A:F&:?KA<?:?A:F&N@&8=F&9:;<:;<@F&F=8AF<:F5
!"F"!"#$R0Z?g

):&FM;<@FAF&N@&8=F&@F<A8=F&L?:;9bF&@&A<:8A:;=&LJ@&=K?:&N@ &CE?AF<=QE&gA88AK:8N* 0CEAp*

Z'

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

c'_'X7'_a_B5&#F<JNAG&@;&/<:8A:H&RAFA<G&)=;N?@FH&@L@9<JG&>A?:F&Q=?&%8@P:;A:&9=P=&NA?@9<=?&N@&
J;:&9=PQ:WM:&N@&GQ@?:H&LJ@&9=PQ=FA<=?&N@&8:&9=?<@&N@8&@PQ@?:N=?&@;&YA@;:&I&<?AJ;LG&@;&
3:?MFH & K:S= & @8 & Q:<?=9A;A= & N@ & $:?M: & %;<=;A@<:5 & C=P@;hG & @F9?AKA@;N= & GQ@?:F & @; & @8 & @F<A8=&
A<:8A:;=&9=;R@;9A=;:8H&:J;^J@&F@&FA;<AG&LJ@?<@P@;<@&:L@9<:N=&Q=?&@8&P=RAPA@;<=&?@L=?PAF<:&
N@&8:&Nb9:N:&N@&'_ZO5&/;FQA?:N=&Q=?&8:F&AN@:F&PmF&?:NA9:8@F&N@&8:&bQ=9:H&9=8:K=?G&9=;&@8&
Q=@<:&.:;A@?=&%5C`5F=J=&Q:?:&@F<?@;:?&@;&YA@;:&G!;"3&")&6.!*)*+"&c'_]!B&I&>$+"1,"c'_]_B5&
#;&@8&Q?@L:9A=&N@ &>$+"1,"& @DQ?@F:&FJ&N@9AFAG;&N@ &@8APA;:?&8=F&:KJF=F&^J@&E:F<:&@;<=;9@F&
E:KM:;&N@L=?P:N=&8:&GQ@?:&A<:8A:;:H&I&9=;LA;:?&:&8:&PUFA9:&:&FJ&LJ;9AG;&:N@9J:N:&N@&F@?RA?&
:&8:&Q=@FM:&@;&8:&@DQ?@FAG;&I&8:F&FA<J:9A=;@F&N@&8:&<?:P:H&FA;&9=;FAN@?:9AG;&:8>J;:&9=;&8:F&
<?A88:N:F& 9=;R@;9A=;@F&N@8&:?A:&N:&9:Q=&;A&9=;&@8&N@F@=&N@&8=F&9:;<:;<@F&N@&@DEAKA?& FJF&
E:KA8AN:N@F&@;&8:&R:?A:9AG;&=?;:P@;<:85&%N@PmF&9=;RA?<AG&8:&=K@?<J?:&@;&Q:?<@&A;<@>?:;<@&
N@ & 8: & GQ@?:H & :N:Q<G & 8: & =?^J@F<: & : & 8=F & ?@^J@?APA@;<=F & N?:Pm<A9=F & I & :88:;G & @8 & 9=;<?:F<@&
@DAF<@;<@&@;<?@&@8&:?A:&I&@8&?@9A<:<AR=5&":PKAb;&N@R=8RAG&@8&Q:Q@8&N@&APQ=?<:;9A:&:8&9=?=5&#;&
FJ & @F<A8= & :FAPA8: & @8 & N=;:A?@ & P@8GNA9= & A<:8A:;=H & 8: & F@?A@N:N & :8@P:;: & I & 8: & Q=PQ=F:&
&P:>;ALA9@;9A:&N@&8:&&,!%#C)*"&$E!*0."&L?:;9@F:&5
):&9J8PA;:9AG;&N@&FJ&<?:I@9<=?A:&F@&Q8:FPG&9=;&@8&@F<?@;=&N@&U57*#C(*"&"(&>.$*)"&@;&
3:?MF&@;&'__X5&#F<@&@F<?@;=&FJF9A<G&J;&@D<?:=?NA;:?A=&A;<@?bFH&I:&^J@&N@FN@&'_Z!&F@&R@;M:&
L?:>J:;N=&@;&3:?MF&J;:&LJ@?<@&=Q=FA9AG;&9?M<A9:&9=;<?:&8:&GQ@?:&L?:;9@F:&Q:F:N:&N@&P=N:&I&
FJKR@;9A=;:N:&Q=?&@8&@F<:N=5&1J?>AG&@;<=;9@F&J;:&R@?N:N@?:&K:<:88:&R@?K:8&9=;=9AN:&@;&8:&
EAF<=?A:&9=P=&$%
& &&0."!"$$"&)"1&'3.;;3(1& c^J@?@88:&N@&8=F&KJL=;@FBH&P=<AR:N:&Q=?&8:&Q?@F@;9A:&
@; & 3:?MF & N@ & J;: & 9=PQ:WM: & =Q@?MF<A9: & A<:8A:;: & ^J@ & ?@Q?@F@;<:K: & GQ@?:F & 9GPA9:F & c35"!"&
'.;;"YZ &"=N=F& 8=F & A;<@8@9<J:8@F & N@ & 4?:;9A: & A;<@?RA;A@?=; & @; & 8: & ?@I@?<:H & Q:?<AN:?A=F& N@ & 8:&
GQ@?: & A<:8A:;:H & Q=? & J; & 8:N= & I & :PA>=F & N@ & 8: & L?:;9@F:H & Q=? & =<?=5 & CJ:;N= & 08J9 & @;<?G & @;&
@F9@;:H&LJ@&Q?@F@;<:N=&9=P=&9:Q:h&N@&N@P=F<?:?&^J@&Q=NM:&@F9?AKA?F@&J;:&KJ@;:&GQ@?:&@;&
8@;>J:&L?:;9@F:H&:Q@8:;N=&:8&Q:<?A=<AFP=&I&:&8:&9J?A=FAN:N&N@8&QUK8A9=&L?:;9bF5&4J@&J;&bDA<=&
?=<J;N=5 & .mQAN:P@;<@ & FJ?>A@?=; & R@?FA=;@F & ?@RAF:N:F & N@ &G!;"3& I &>$+"1,"H & 9=; & <@D<=F & @;&
L?:;9bF5&):&=K?:&P:@F<?:&N@&08J9H&U57*#V(*"&"(&K%.!*)"H&F@&@F<?@;G&@;&'__6z&@F&J;:&=K?:&
N@&>?:;N@F&Q?=Q=?9A=;@F&^J@&Q=F@@&J;&@D9@8@;<@&@^JA8AK?A=&@;<?@&@8&A;<@?bF&N?:Pm<A9=&I&@8&
PJFA9:8H&I&8:&^J@&F@&J<A8Ah:;&<=N=F&8=F&?@9J?F=F&N@&8:&GQ@?:(&=?^J@F<:H&K:88@<H&9:;<=&F=8MF<A9=&
I&9=?:8H&Q:?:&9?@:?&J;&@L@9<=&>8=K:8&N@&>?:;N@h:&<?m>A9:&98mFA9:5
!"F"7"#$83hGYO$

b7CGJ58J * )K5I:E> * (7`5@9& c'_Z]7'_6'B & ;:9AG & @; & 1:8hKJ?>= & c:9<J:8P@;<@&
%JF<?A:B5&1J&Q:N?@H&)@=Q=8NH&@?:&RA=8A;AF<:&I&9=PQ=FA<=?5&,@FN@&FJ&PmF&<@PQ?:;:&A;L:;9A:&
N@P=F<?G&J;&<:8@;<=&PJFA9:8&<:;&Q?=NA>A=F=&^J@&FJ&Q:N?@&:K:;N=;G&<=N:&=<?:&:PKA9AG;&
Q:?:&9=;F:>?:?F@&:&8:&@NJ9:9AG;&N@8&;AW=&I&:&@DEAKA?&FJF&E:KA8AN:N@F&@;&J;:&F@?A@&N@&RA:S@F&
^J@&Q=9=&:&Q=9=&8@F&88@RG&:&4?:;9A:H&/;>8:<@??:H&T=8:;N:&@&/<:8A:H&:FM&9=P=&:&YA@;:&I&:&8:F&
Q?A;9AQ:8@F&9AJN:N@F&N@&%8@P:;A:5&0?:9A:F&:&@88=H&@8&S=R@;&$=h:?<&<=PG&9=;<:9<=&9=;&<=N:&8:&
PUFA9:&^J@&F@&@F9?AKM:&=&@F9J9E:K:&@;&8:&#J?=Q:&=99AN@;<:8&9=;<@PQ=?m;@:5&/PA<:K:H&Q@?=&
P@S=?:;N=&8=F&P=N@8=F5&1J&=K?:&88@>G&:&F@?&J;:&FM;<@FAF&N@&@F<A8=F&;:9A=;:8@FH&J;&@FQ@S=&@;&
@8&9J:8&F@&?@L8@S:K:&8:&PUFA9:&N@&<=N:&J;:&bQ=9:H&A8JPA;:N=&Q=?&FJ&Q?=QA=&I&<?:F9@;N@;<@&
>@;A=5
$=h:?<&Q=F@M:&J;&LA;=&A;F<A;<=&<@:<?:8&I&Q@;F:K:&PJI&:&L=;N=&8=F&<@P:F&:&8=F&^J@&
E:KM: & N@ & Q=;@? & PUFA9:H & NAF9J<A@;N= & 9=; & 8=F & 8AK?@<AF<:F & @ & A;98JF= & :9=;F@Sm;N=8@F5 & 1J&
Q?@=9JQ:9AG; & F@ & QJF= & N@ & P:;ALA@F<= & N@ & P:;@?: & 98:?: & @; & 9J:;<= & @8 & PUFA9= & 9=P@;hG & :&
:N^JA?A?&J;:&9A@?<:&P:NJ?@h&c:8?@N@N=?&N@&8=F&!Z&:W=FB&I&:K:;N=;G&8:&@F<?A9<:&N@Q@;N@;9A:&
:&8:&^J@&8@&E:KM:;&F=P@<AN=&E:F<:&@;<=;9@F&8:F&P=N:F&I&8:F&APQ=FA9A=;@F&N@?AR:N:F&N@&8=F&
Z!

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

@;9:?>=F5&
&)=F&8AK?@<=F&^J@&)=?@;h=&&I5*3789:& @F9?AKAG&Q:?:&$=h:?<&@8@R:?=;&:&8:&GQ@?:&KJL:&:&
J;: & 9:<@>=?M: & 8A<@?:?A: & PmF& :8<: &:8 &=<=?>:?8@F &J;: &P:I=? &Q?=LJ;NAN:N &: &8=F &Q@?F=;:S@FH&
A;<@;FALA9:?&8:F&<@;FA=;@F&F=9A:8@F&@;<?@&8:F&98:F@F&I&<?:<:?&N@&<@P:F&P=?:8@F5&):&Q@;@<?:9AG;&
QFA9=8G>A9:&N@&$=h:?<&I&FJ&>@;A=&Q:?:&8:&9:?:9<@?Ah:9AG;&P@NA:;<@&8:&PUFA9:&A>J:8P@;<@&
@8@R:?=;&@8&>b;@?=&:&J;&;J@R=&>?:N=&N@&F@?A@N:N5&):&9:?:9<@?Ah:9AG;&N@&8=F&Q@?F=;:S@F&F@&
?@:8Ah:&;=&FG8=&P@NA:;<@&8:F&:?A:FH&FA;=&>?:9A:F&:&8=F&NU=FH&<?M=F&I&9=;SJ;<=F&N@&PJ9E=F&
Q:?<A9AQ:;<@Fz&:N@PmFH&@;&8=F &LA;:8@F&9=;9@?<:N=F& F@&9=PKA;:&@8&?@:8AFP=&9=;&8:&:99AG;&
N?:Pm<A9: & ^J@ & F@ & N@F:??=88: & I & J;: & L=?P: & PJFA9:8 & F=K@?KA:P@;<@ & J;ALA9:N:5 & ):&
=?^J@F<:9AG;H & I& @FQ@9A:8P@;<@ &@8 & JF= &N@ &8=F &A;F<?JP@;<=F &N@& RA@;<=H & :N^JA?AG & J; &Q:Q@8&
APQ=?<:;<@&@;&8:&N@8A;@:9AG;&N@&8=F&Q@?F=;:S@F&I&FA<J:9A=;@F5
!
!
!

!
!

1JF&GQ@?:F&PmF&APQ=?<:;<@F&F=;&8:F&^J@&9=PQJF=&@;&@8&Q@?A=N=&RA@;bF(&
C=; &%&$-(;*+$5.&$2.--(&&+& $=h:?<&@8@RG&@8 &1*(#15*"$& :8@Pm;&E:F<:&8=F&N=PA;A=F&
N@8&>?:;&:?<@&FA;&:8<@?:?&;A;>J;=&N@&FJF&?:F>=F&@F<:K8@9AN=F5
#; &0(2 $K+5(2$5.$MD,(-+& F@&FA>J@;&8=F&9=;R@;9A=;:8AFP=F&N@&8:&GQ@?: &9GPA9:&
A<:8A:;:&N@8&FA>8=&[Y///5&
J+) $ R/+:())/& @F & J; &)!%//% & #*3+313& N@ & J;: & M;N=8@ & PJI & @FQ@9A:85 & 0?:9A:F & :&
$=h:?<H&,=;&kJ:;&LJ@&<=P:N=&@;&F@?A=H&;=&9=P=&J;:&P@h98:&A;9=;>?J@;<@&N@&LA>J?:&
N@ & L:?F: & I & N@ & E=??@;N= & K8:FL@P=H & FA;= & 9=P= & Eb?=@& ?=Pm;<A9=H &?@K@8N@ & 9=;<?:& 8:&
:J<=?AN:N & I & KJ?8G; & N@ & 8: & P=?:8AN:N & RJ8>:?H & A;NARANJ:8AF<: & FJQ?@P=H & =F:N= & I & FA;&
:??@Q@;<APA@;<=F5
?+2i$4()$*=**.& @F&J;:&GQ@?:&KJL:&N@&8:&P@S=?&<?:NA9AG;&A<:8A:;:H&9=;&J;&8AK?@<=&
K?A88:;<@&>8=?ALA9:N=&Q=?&J;:&PUFA9:&^J@&F@&E:88:&@;<?@&8:F&PmF&P@8=NA=F:F&^J@&E:I:&
9=PQJ@F<=&$=h:?<5
0($4&(=*($1c,/'(&@F&=<?:&9=F:5&%J;^J@&@D<@?A=?P@;<@&F@&<?:<:&N@&J;&1*(#15*"$H&FJ&
:99AG;&@F<m&9=8P:N:&N@&FA>;ALA9:N=F&FAPKG8A9=F&I&FJ&PUFA9:&@F&<:;&?A9:&I&Q?=LJ;N:&
^J@&N@K@&F@?&9=;FAN@?:N:&9=P=&J;:&N@&8:F&PmF&>?:;N@F&GQ@?:F&:8@P:;:F&P=N@?;:F5&
#DAF<@&J;:&?@8:9AG;&@;<?@&8:&:99AG;&N@&@F<:&GQ@?:&I&8:F&@;F@W:;h:F&I&9@?@P=;A:F&N@&8:&
L?:;9P:F=;@?M:5&#;&@F<:&=K?:H&$=h:?<&@;<?@<@S@&@;&;J@R=F&NAF@W=F&8=F&EA8=F&N@&<=N:F&
8:F&AN@:F&PJFA9:8@F&N@8&FA>8=&[Y///(&8:&=QJ8@;9A:&R=9:8&N@&/<:8A:H&@8&EJP=?&Q=QJ8:?&N@8&
1*(#15*"$& :8@Pm;H & @8 & :?A: & F=8MF<A9:H & @8 & 9=;SJ;<= & KJL=H & J; & ;J@R= & <AQ= & N@ & ?@9A<:<AR=&
:9=PQ:W:N=H&F=8@P;@F&@F9@;:F&9=?:8@F&@&A;98JF=&J;:&?@FJ??@99AG;&N@&8:&<b9;A9:&N@8&
Q?@8JNA=&9=?:8&K:??=9=H&9=;&:9=PQ:W:PA@;<=&9=;<?:QJ;<MF<A9=5

7"#$8]E<?G$_3?G0$Y%0<R<3EG
): & FJQ?@P:9M: & N@ & 8: & ?:hG; & NJ?:;<@ & @8 & 98:FA9AFP= & 9=PK:<AG & FA; & N@F9:;F= & @8&
=F9J?:;<AFP=&N@&8:&?@8A>AG;5&1@&?@9E:hG&@8&N=>P:&I&FG8=&F@&:NPA<A@?=;&9=P=&Rm8AN:F&8:&
?:hG;H&8:&9A@;9A:&I&8:&@DQ@?A@;9A:5&#;&@F<@&F@;<AN=H&F@&E:K8:&N@&J;:&q?@8A>AG;&;:<J?:8rH&^J@&
R:8=?:&@FQ@9A:8P@;<@&8:&?:hG;&A;NARANJ:85&/;@RA<:K8@P@;<@H&@F<@&P=N=&N@&Q@;F:?&:L@9<G&:&8:&
Q?=QA:&/>8@FA:&A8JPA;:;N=&:FQ@9<=F&E:F<:&@;<=;9@F&A;9J@F<A=;:K8@F5&
): & ?@8A>AG; & ;:<J?:8 & I & @8 & EJP:;AFP= & P=?:8 & 9=;F<A<JI@?=; & 8: & K:F@ & N@ & 8:&
L?:;9P:F=;@?M:5&3=?&8:&9=;LA:;h:&^J@&@F<@&P=RAPA@;<=&FJQ=&N@Q=FA<:?&@;&8:&LJ@?h:&N@&8:&
?:hG;H & I & @; & 8: & RA?<JN & I & 8: & L?:<@?;AN:N & EJP:;:FH & 9=;FA>JAG & :<?:@? & : & PJ9E=F & :?<AF<:F & @&
A;<@8@9<J:8@FH&:FM&9=P=&:&:?AF<G9?:<:F&N@&@FQM?A<J&Q?=>?@FAF<:5&#;&8:&F@>J;N:&PA<:N&N@8&FA>8=H&
PJ9E=F&PUFA9=F&F@&RA;9J8:?=;&:&b8H&:J;^J@&Q=FAK8@P@;<@&Q=9=F&9=;&@8&L@?R=?&9=;&^J@&8=&
EAh=&$=h:?<5
ZV

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

UT+T_*bT*)T*(7`5@9,

):F & PAF:F & N@ & $=h:?< & F=;H & @; & >@;@?:8H & :8@>?@F & I & @FQ@9<:9J8:?@FH & 9=; & K?A88:;<@F&
:9=PQ:W:PA@;<=F&=?^J@F<:8@FH &:?A:F &N@&<AQ= &=Q@?MF<A9= &I&9=?=F&<:;&<@??@;:8@F &I&?mQAN=F&
9=P=&8=F&N@&J;&=?:<=?A=&N@&T;N@85&A%&D*1%&)"&$%&83!3(%+*I(H&9=P=&@8&<M<J8=&A;NA9:H&LJ@&
@F9?A<:&Q:?:&J;:&=9:FAG;&F=8@P;@&IH&Q=?&@88=H&@F&<?AJ;L:8&I&9@?@P=;A=F:z&=<?:FH&9=P=&8:&D*1%&
;x&]H&iY&'6!H&F=;&PmF&K?@R@F&I&8A>@?:FH&IH&Q=?&<:;<=H&9=PQJ@F<:F&Q:?:&F@?&@F9J9E:N:F&8=F&
N=PA;>=F&NJ?:;<@&8:F&9@8@K?:9A=;@F&?@8A>A=F:F5
"?:F&:K:;N=;:?&1:8hKJ?>=H&FJ&9AJN:N&;:<:8H&N=;N@&E:KM:&<?:K:S:N=&:8&F@?RA9A=&N@8&
:?h=KAFQ=H&$=h:?<&9=PQJF=&F=8:P@;<@&N=F&=K?:F&P:I=?@F&Q:?:&<@D<=F&8A<U?>A9=FH&A%&D*1%&
"(&)3&/"(3!&I&@8&W"0.*"/H&I&?@FJ8<:&FAPKG8A9=&^J@&;=&<@?PA;:?:&;A;>J;:&N@&8:F&N=F5
#;&8:&$AF:H&$=h:?<&88@R:&:&9:K=&J;:&?@9?@:9AG;&:8<:P@;<@&A;NARANJ:8AF<:&N@8&`:??=9=&
@; & L=?P:& N?:Pm<A9:&I&FA;LG;A9:5&#8 &.@^JA@PH &FJ&U8<AP:&9=PQ=FA9AG;H &@F&N@ &A;FQA?:9AG;&
P:FG;A9:&I&9:<G8A9:&:&Q:?<@F&A>J:8@FH&I&@;&b8H&$=h:?<&F@&FA?R@&N@&8:&8A<J?>A:&9=P=&R@EM9J8=&N@&
@DQ?@FAG;&N@&J;:&9?@@;9A:&A;NARANJ:85

UTUT_*4@58`*R7>:L<*Z5DI8
":PKAb;&T:IN;&EAh=&J;:&A;<@?Q?@<:9AG;&PJI&Q@?F=;:8&N@&8:&8A<J?>A:H&:J;^J@&P@;=F&
9=;F9A@;<@ & I & N@F:LA:;<@ & ^J@ & 8: & N@ & $=h:?<H & I: & ^J@ & @8 & Q?AP@?= & LJ@ & FA@PQ?@ & J; & q9:<G8A9=&
QA:N=F=r5 & ):F & PAF:F & ^J@ & @F9?AKAG & @;<?@ & '_6] & I'aO!H & @FQ@9A:8P@;<@ & 8:F & N@ &?"$13(H & N@&
K7"!"1%&I&N@&[*()R'%()H&F=;&=K?:F&>@;A:8@F&^J@&?@Q?@F@;<:;&8:&9J8PA;:9AG;&N@8&>@;A=&N@&
T:IN;&I&9JI=&=8RAN=&@F&Q=?&@88=&PmF&8:P@;<:K8@5&):&A;N@Q@;N@;9A:&9?@:<AR:&N@&T:IN;&;=&@F&
P@;=F&@RAN@;<@&@;&A%&+!"%+*I(H&=?:<=?A=&qRA@;bFr&PJI&NAL@?@;<@&N@&8=F&P=N@8=F&:8@P:;@F&@&
A<:8A:;=F&I:&<?:NA9A=;:8@F5
#F&9J?A=F=&F@W:8:?&@8&=?:<=?A=&q):F&FA@<@&Q:8:K?:F&N@&C?AF<=&@;&8:&9?JhrH&@;9:?>:N:&:8&
9=PQ=FA<=?&Q=?&J;:&9=L?:NM:&>:NA<:;:5

UTVT_*-EIl=J*M58*^::9<7M:8T

,@ & 8: & =K?: & F:9?: & N@ & `@@<E=R@;H & 9:K@ & N@F<:9:? & FJ &D*11% & 43$"/(*1H & N@F<A;:N: & :&
9@8@K?:? & 8: & F=8@P;@ & 9@?@P=;A: & @; & 8: & ^J@ & @8 & :?9EANJ^J@ & .=N=8L=H & :PA>= & I & Q?=<@9<=? & N@&
`@@<E=R@;H&LJ@&;=PK?:N=&:?h=KAFQ=&N@&*8=P=J95&#;&@88:H&8:&PUFA9:&@D9@N@&@8&FA>;ALA9:N=&
?@8A>A=F= & @FQ@9MLA9= & N@8 & <@D<= & I & Q?@<@;N@ & NA?A>A?F@ & : & <=N: & 8: & EJP:;AN:NH & 9?@I@;<@ & = & ;=&
9?@I@;<@5
): & NJ?:9AG; & N@ & 8: & =K?: & A;<APAN: & : & 8=F & =?>:;Ah:N=?@F & N@ & 9=;9A@?<=FH & Q=? & 8= & 9J:8&
?:?:P@;<@ & @F & Q?=>?:P:N:5 & 1A;& @PK:?>=H & ;= & Q=? & @88= & N@S: & N@ & F@? & J;: & =K?: & 9JPK?@ & N@8&
?@Q@?<=?A=&9=?:85

ZX

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

'&() * o, * -) * (a1$%) * $"1'/O(&"')- * &" * &-*

/.()"'$%$1(.
'7&/+".*,fCC/\+&
:B&C=;<@D<=&EAF<G?A9=&F=9A:8&I&9J8<J?:8
KB&C:?:9<@?MF<A9:F&>@;@?:8@F&N@&8:&PUFA9:&?=Pm;<A9:(
9B&,J:8AN:N&.=Pm;<A9:(
!7&*.0%+*)*0-%
V7&%0.f3%C/*+#1&/+1".f$#+"%)#1
X7&)%1&4*.$%1&$f1/C%)#1

!#$<)*-+5=''/>)$
56*%789:;97*<=>9?@=A7*>7A=5C*D*AEC9E@5C
#8 &/7K589=A=>K7& LJ@&J;&P=RAPA@;<=&9J8<J?:8&I&Q=8M<A9=&^J@&F@&=?A>A;G&@;&%8@P:;A:&:&
LA;:8@F & N@8 & FA>8= & [Y/// & 9=P= & J;: & ?@:99AG; & :8 & ?:9A=;:8AFP= & N@ & 8: &U$.1,!%+*I(& I & @8&
?"3+$%1*+*1/3H&Nm;N=8@&Q?@Q=;N@?:;9A:&:8&F@;<APA@;<=5&1@&N@F:??=88G&LJ;N:P@;<:8P@;<@&
@;&8:&Q?AP@?:&PA<:N&N@8&FA>8=&[/[&I&L:R=?@9M:H&:;<@&<=N=(
! ):&FJQ?@P:9M:&N@8&F@;<APA@;<=&L?@;<@&:&8:&?:hG;5
! ):&LJ@?<@&<@;N@;9A:&;:9A=;:8AF<:&N@&9:N:&Q:MF5
! ):&N@8&8AK@?:8AFP=&KJ?>JbF&L?@;<@&:8&N@FQ=<AFP=&A8JF<?:N=5
! ):&N@&8:&=?A>A;:8AN:N&L?@;<@&:&8:&<?:NA9AG;&>?@9=8:<A;:5
! ):&N@&8:&9?@:<ARAN:N&L?@;<@&:&8:&APA<:9AG;&;@=98mFA9:5
! ):&N@&8:&=K?:&APQ@?L@9<:H&A;:9:K:N:&I&:KA@?<:&L?@;<@&:&8:&=K?:&Q@?L@9<:H&9=;98JAN:&
I&9@??:N:5
#8&FA>8= &[/[&F@&A;:J>J?:&K:S=&@8&A;L8JS= &N@&8:&.@R=8J9AG;&4?:;9@F:H &8:F&9=;^JAF<:F&
;:Q=8@G;A9:F5 & #8 & C=;>?@F= & N@ & YA@;: & c'a'ZB & FJQJF= & @; & Q?A;9AQA=H & @8 & <?AJ;L= & N@ & 8:&
.@F<:J?:9AG;&I&8:&?@9=;F<?J99AG;&N@8&P:Q:&N@&#J?=Q:5&#F&8:&bQ=9:&@;&8:&^J@&8:&KJ?>J@FM:&
:89:;h: & @8 & Q=N@? & Q=8M<A9= & c?@R=8J9A=;@F & KJ?>J@F:F & d & 'aVOH & 'aXayBH & Q@?= & <:PKAb; & @F & 8:&
bQ=9:&@;&8:&^J@&;:9@;&8=F&;:9A=;:8AFP=F&I&@8&8AK@?:8AFP=&@9=;GPA9=H&^J@&F@&<?:NJ9A?m;&@;&
N=F&9=;9@Q9A=;@F&@9=;GPA9:F&9=;<?:QJ@F<:F5&
)=F & APQJ8F=F & F=9A:8@F & Q?=9@N@; & N@ & NA9E= & 8AK@?:8AFP=H & N@ & 8=F & P=RAPA@;<=F&
N@P=9?m<A9=FH&@8&F=9A:8AFP=H&I&@8&:;:?^JAFP=5&%8&PAFP=&<A@PQ=&=<?=&P=RAPA@;<=&?@9=??@&@8&
9=;<A;@;<@( & @8 & ;:9A=;:8AFP=H & ^J@ & E:9A: & LA; & N@ & FA>8= & N@?AR:H & @; & :8>J;=F & 9:F=FH & @;&
APQ@?A:8AFP=&9=8=;A:8AF<:5&):F&<?:;FL=?P:9A=;@F&@9=;GPA9:F&I&F=9A:8@F&Q?=NJ9AN:F&Q=?&8:&
@D<@;FAG;&N@&8:&.@R=8J9AG;&/;NJF<?A:8&9=;<?AKJI@;&N@&L=?P:&N@LA;A<AR:&:&J;&9:PKA=&?:NA9:8&
N@8&Q:;=?:P:&EAF<G?A9=&5

F6*%5@5A9:@H>9=A5>*J:8:@5C:>*I:*C5*KQ>=A5*@7K[89=A5,
#8 & ?=P:;<A9AFP= & PJFA9:8 & @F & J; & Q@?M=N= & ^J@ & <?:;F9J??AG & :Q?=DAP:N:P@;<@ & @;<?@&
Q?A;9AQA=F&N@8&FA>8=&[/[&I&8:&Q?AP@?:&Nb9:N:&N@8&FA>8=&[[H&I&FJ@8@&@;>8=K:?&<=N:&8:&PUFA9:&
@F9?A<:&N@&:9J@?N=&:&8:F&;=?P:F&I&@F<A8=F&N@&NA9E=&Q@?M=N=5&%8>J;:F&N@&8:F&9:?:9<@?MF<A9:F&
>@;@?:8@F&F=;(
! 0JF<=&Q=?&@8&RA?<J=FAFP=&I&8=F&:8:?N@F&<b9;A9=F5
! $@8=NM:F&K@88:F&I&:Q:FA=;:N:F5&%&R@9@F&:N^JA@?@;&J;&F:K=?&;J@R=&N@KAN=&:&^J@&F@&
A;9=?Q=?:;&>A?=F&P@8GNA9=F&Q?=9@N@;<@F&N@&8:&PUFA9:&Q=QJ8:?&=&<?:NA9A=;:85
! #8&P=RAPA@;<=&PJFA9:8&I&8:&QJ8F:9AG;&F=;&PJI&L8@DAK8@F&c9:PKA=F&:>G>A9=F(&?mQAN=&d&
8@;<=H&%+"$"!%()3O&!*,%!)%()3yB5
! .A^J@h:&N@&9=;<?:F<@F&NA;mPA9=F5&fF=&9=;F<:;<@&N@8&+!"1+"()3&I&)*/*(."()3H&SJ;<=&
ZZ

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!
!
!
!

9=;&@FQ@9<:9J8:?@F&9=;<?:F<@F&@;<?@&5*%(*11*/3&I&L3!,J11*/35
%?P=;M:F & :JN:9@F & I & PJI & N@F:??=88:N:FH & 9=; & 9:PKA=F & 9=;F<:;<@F & N@ & <=;:8AN:NH&
:J;^J@&@8&?A<P=&:?PG;A9=&F@&?:8@;<Ah:5
%JP@;<=&N@&8:F&Q=FAKA8AN:N@F&<MPK?A9:F&c:JP@;<:&8:&=?^J@F<:&I&:Q:?@9@;&;J@R=F&
A;F<?JP@;<=FB5
):F&L=?P:F&PJFA9:8@F&QJ@N@;&:89:;h:?&>?:;&NJ?:9AG;&I&F@&:Q8A9:;&N@&P:;@?:&PmF&
8AK?@5 & 1APJ8<m;@:P@;<@ & :Q:?@9@; & Q@^J@W:F & L=?P:F & ^J@ & Q@?PA<@; & J;: & P:I=?&
L:;<:FM:&I&@FQ=;<:;@AN:N5
"=N=&@F<=&N:&9=P=&?@FJ8<:N=&J;:&PUFA9:&N@&>?:;&Q=<@;9A:&@DQ?@FAR:&I&N@&9:?m9<@?&
PJI & P:?9:N=( & <?@P@;N: & I & K?A88:;<@ & : & R@9@FH & ?@9=>AN: & I & 8M?A9: & =<?:FH & 8: & PUFA9:&
?=Pm;<A9:&Q=F@@&J;:&>?:;&9:Q:9AN:N&N@&@R=9:9AG;5

A6*#E5C=I5I*/7K[89=A5,

#8&9=;L8A9<=&9J8<J?:8&^J@&P@S=?&N@LA;@&@F<:&bQ=9:&RA@;@&N:N=&:&<?:RbF&N@&J;:&F@?A@&N@&
9=;<?:NA99A=;@FH & :PKAR:8@;9A:FH & NJ:8AN:N@Fy & ^J@ & @; & PUFA9: & F@ & QJ@N@; & :Q?@9A:? & N@ & 8:&
FA>JA@;<@&L=?P:(
! C=;L8A9<=&@;<?@&8:&PUFA9:&A;F<?JP@;<:8&QJ?:&9=P=&L=?P:&FJQ?@P:&N@&@DQ?@FAG;&N@&
8=F&F@;<APA@;<=F&I&8:&LJ@?<@&<@;N@;9A:&8A<@?:?A:&N@&8:&PUFA9:&N@8&[/[5
! C=;<?:F<@ & @;<?@ & 8:F & >?:;N@F & L=?P:F & A;F<?JP@;<:8@F & Q:?: & J; & >?:; & ;UP@?= & N@&
A;<b?Q?@<@F&I&@8&A;NARANJ:8AFP=&?@L8@S:N=&@;&8:F&Q@^J@W:F&L=?P:F&Q:?:&QA:;=5
! ):&A;NARANJ:8AN:N&N@8&PUFA9=&c>@;A=&A;9=PQ?@;NAN=B&L?@;<@&:&8:&PJ8<A<JN&:&^JA@;&R:&
NA?A>AN:&FJ&=K?:5
! C=;<?:F<@&@;<?@&@8&PUFA9=&Q?=L@FA=;:8&RA?<J=F=&?@F@?R:N=&:&8:F&F:8:F&N@&9=;9A@?<=&I&@8&
PUFA9=&:LA9A=;:N=&@;&<=?;=&:8&QA:;=&N@8&F:8G;&N@&FJ&9:F:5

7#$3-,()+&+,D(

,J?:;<@&<=N=&@8&.=P:;<A9AFP=H&8=F&@8@P@;<=F&N@8&8@;>J:S@&PJFA9:8&F@&R:;&:&J<A8Ah:?&
9=P=&?@9J?F=F&@DQ?@FAR=F&Q:?:&N:?&9=8=?H&9?@:?&:<PGFL@?:H&FJK?:I:?&8=F&N@<:88@Fy&2&N@FN@&@8&
QJ;<=&N@&RAF<:&N@&8=F&A;F<?JP@;<=F&PJFA9:8@FH&E:I&^J@&<@;@?&@;&9J@;<:&J;:&F@?A@&N@&L:9<=?@F&
^J@&A;L8JA?m;&N@LA;A<AR:P@;<@&@;&@8&Q:;=?:P:&PJFA9:8&?=Pm;<A9=(
! f;=&N@&8=F&L:9<=?@F&PmF&APQ=?<:;<@F&LJ@&8:&.@R=8J9AG;&/;NJF<?A:8H&8:&9J:8&A;9ANA?m&@;&
8:&<?:;FL=?P:9AG;H&A;R@;9AG;&I&P@S=?:&N@&8=F&A;F<?JP@;<=F5&,@&@F<:&L=?P:&F@&:N:Q<:&
J;&;J@R=&FAF<@P:&N@&88:R@F&:&8=F&A;F<?JP@;<=F&N@&P:N@?:&c93"7/BH&8=F&QAF<=;@F&:8&
RA@;<= & P@<:8H & @<95 & L:9A8A<:;N= & I & P@S=?:;N= & 8: & <b9;A9: & A;<@?Q?@<:<AR: & I & 8:F&
Q=FAKA8AN:N@F&N@&8=F&PAFP=F5&#F<=&N@&:8>J;:&P:;@?:&?@FQ=;NM:&:&8:F&N@P:;N:F&N@&
8=F&PUFA9=F&RA?<J=F=F5
! ):&N@P:;N:&N@&A;F<?JP@;<=F&Q=?&Q:?<@&N@&8:&F=9A@N:N&KJ?>J@F:&c:JP@;<=&N@&8=F&
PUFA9=F&:LA9A=;:N=FB&=K8A>:&:&8:&L:K?A9:9AG;&N@&A;F<?JP@;<=F&N@&P:;@?:&A;NJF<?A:8&I&
q@;&F@?A@r5
! ):&=?^J@F<:&F@&:PQ8A:&N@&:9J@?N=&:&8:F&;@9@FAN:N@F&@DQ?@FAR:F&N@&>?:;NA=FAN:N&I&
:PQJ8=FAN:NH&N@&:9J@?N=&<:PKAb;&:&8:&@D<@;FAG;&N@&8:F&L=?P:F&I&:&8:&:PQ8A:9AG;&N@&
8=F&?@9J?F=F&:?PG;A9=F5&/;F<?JP@;<=F&^J@&:Q:?@9@;&;J@R=F&@;&8:&=?^J@F<:(&L8:J<M;H&
98:?A;@<@ & K:S=H & 9=?;= & A;>8bFH & 9=;<?:L:>=<H & <JK:H & >=;>H & 9:PQ:;:FH & >8=9@;FQA@8H&
IJ;^J@H&8m<A>=y
! T:I&^J@&N@F<:9:?&8:F&N=FAF&N@&@DQ@?AP@;<:9AG;&NJ?:;<@&@8&FA>8=&[/[H&9=;&8:&9?@:9AG;&
N@&;J@R=F&A;F<?JP@;<=FH&F=K?@&<=N=&9=;&8:&A;<@;9A=;:8AN:N&N@&9?@:?&;J@R=F&?@>AF<?=F&
I&9=8=?@F5&#F&@8&9:F=&N@&8:&L8:J<:&>?:R@&@;&F=8H&8:&A;R@;9AG;&N@8&F:D=LG;&Q=?&%N=8L=&1:D&
@;&'6XO&c:FM&9=P=&@8&L8AF9=?;=&I&K=PK:?NA;=B&I&8:&<JK:&l:>;@?A:;:&cEMK?AN=&@;<?@&
<?=PQ:&I&<JK:B5
Z]

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

#8&QA:;=&F@&9=;RA@?<@&@;&@8&A;F<?JP@;<=&?@I&N@&@F<:&bQ=9:H&I:&^J@&F@&Q?@F<:K:&<:;<=&
Q:?: & @8 & 8A?AFP= & FJKS@<AR= & @ & M;<AP= & N@8 & :?<AF<: & 9=P= & Q:?: & 8: & @DQ8=FAG; & ?@<G?A9: & I&
RA?<J=FMF<A9:&N@8&PAFP=5&#F&N@9A?H&9=;@9<:K:&PJI&KA@;&9=;&8=F&R:8=?@F&@F<b<A9=F&N@8&
.=P:;<A9AFP=( & 8= & A;<@;F=H & 8= & @D:>@?:N=H & >?:;NA=F=H & 8= & M;<AP=y & #8 & QA:;= & LJ@&
J;AR@?F:8 & QJ@F<= & ^J@ & F@ & :N:Q<:K: & <:;<= & : & 8=F & RA?<J=F=F & 9=P= & : & 8=F & :LA9A=;:N=F5&
%8>J;=F& N@& 8=F &9:PKA=F& <b9;A9=F& ^J@& FJL?AG & @8 &QA:;= & LJ@?=; & 8: &J<A8Ah:9AG; &N@ & 8=F&
P:9A88=F & N@ & LA@8<?= & @;& 8J>:? & N@ & QA@8H & 8:F & 9J@?N:F & N@ & 8:<G; & I & :9@?=H & 8=F & K:F<AN=?@F&
P@<m8A9=FH&8:&APQ8:;<:9AG;&N@&Q@N:8@F&Q:?:&@L@9<=F&F=;=?=FH&@<95&

F#$G,-=;('/+).2$/)2*-=1.)*(&.2
):F & :>?JQ:9A=;@F & A;F<?JP@;<:8@F & ^J@ & F@ & N:; & NJ?:;<@ & @8 & .=P:;<A9AFP= & F@ & QJ@N@;&
98:FALA9:? & @; & N=F & >?JQ=F & N@Q@;NA@;N= & N@ & FA & @8 & >b;@?= & @F & PUFA9: & N@ & 9mP:?: & = & PUFA9:&
=?^J@F<:85&
,@;<?=&N@8&Q?AP@?=&F@&@;>8=K:?M:&<:;<=&8:&PUFA9:&F=8MF<A9:&cF=K?@&<=N=&Q:?:&QA:;=&J&
G?>:;=B & 9=P= & 8: & N@ & 9=;SJ;<=F & R=9:8@F & = & A;F<?JP@;<:8@F5 & #; & @F<@ & U8<AP= & QJ;<= & 9:K?M:&
N@F<:9:? & <=N: & 8: & PUFA9: & N@ & 9mP:?: & 9=; & QA:;= & I & 8=F & 9J:?<@<=F & N@ & 9J@?N:5 & %FM & QJ@F&
@;9=;<?:?@P=F&NJ=FH&<?M=F&=&9J:?<@<=F&N@&9J@?N:&9=;&QA:;=&I&8=F&9J:?<@<=F&N@&9J@?N:&@;&FM&
PAFP=F&c`@@<E=R@;H&19EJK@?<H&$@;N@8FF=E;H&`?:EPFyB5&
3=? & =<?= & 8:N=H & <:PKAb; & P@?@9@ & 8: & Q@;: & P@;9A=;:? & 8: & PUFA9: & N@ & 9mP:?: & Q:?:&
A;F<?JP@;<=F&N@&RA@;<=&^J@&:Q:?@9@&N@&R:?A:N:F&L=?P:F(&NU=F&N@&A;F<?JP@;<=F&A>J:8@F&=&
NAL@?@;<@FH & <?M=FH & 9J:?<@<=Fy & E:F<: & 88@>:? & :8 & ;=;@<=5 & C=P= & @S@PQ8=F & N@F<:9:?@P=F & @8&
4"5,*/*(3&N@&`@@<E=R@;&I&@8&G+,",3&N@&19EJK@?<5
#;&9J:;<=&:&8:F&:>?JQ:9A=;@F&A;F<?JP@;<:8@F&?@8:9A=;:N:F&9=;&8:&PUFA9:&=?^J@F<:8&
N@F<:9:P=F& &:&8:&=?^J@F<:&9=P=&J;&<=N=&@;&FM&PAFP=&I&8:&?@8:9AG;&N@&8:&=?^J@F<:&9=;&J;&
F=8AF<:&@;&8=F&9=;9A@?<=FH&N@F<:9:;N=&9=P=&;=H&8=F&9=;9A@?<=F&Q:?:&QA:;=5&
wJ@N:&Q=?&8=&<:;<=&9=;LA>J?:N:&8:&=?^J@F<:&?=Pm;<A9:&9=P=&J;&9=;SJ;<=&FA;LG;A9=&
^J@ & A;98JM: & E:9A: & P@NA:N=F & N@8 & FA>8= & [/[H & :Q:?<@ & N@ & 8:F & 9J@?N:F & I & <APK:8@FH & J;=F & !O&
A;F<?JP@;<=F&N@&RA@;<=&cN=F&L8:J<:FH&N=F&=K=@FH&N=F&98:?A;@<@FH&N=F&L:>=<@FH&9J:<?=&<?=PQ:FH&
N=F&<?=PQ@<:FH&<?@F&<?=PK=;@F&I&J;:&<JK:BH&@F&N@9A?H&9@?9:&N@&8=F&F@F@;<:&PUFA9=F5&%&LA;:8@F&
N@8 & FA>8= & I & : & Q?A;9AQA=F & N@8 & [[ & 8: & =?^J@F<: & Q=NM: & :89:;h:? & Q?=Q=?9A=;@F & L=?PAN:K8@FH&
FJQ@?:;N=&@;&PJ9E=F&9:F=F&8=F&'OO&PUFA9=F5

N#$0(2$4+-1(2$1=2/'(&.2
,J?:;<@&@8&.=P:;<A9AFP=&:FAF<AP=F&:&8:&9=;<A;JAN:N&9=PQ=FA<AR:&N@&:8>J;:F&L=?P:F&
I:&@F<:K8@9AN:F&NJ?:;<@&@8&C8:FA9AFP=&I&8:&:Q:?A9AG;&N@&=<?:F&L=?P:F&;J@R:F5&C=;&?@FQ@9<=&:&
8:F&Q?AP@?:F&cF=;:<:H&FA;L=;M:H&9=;9A@?<=H&9J:?<@<=&N@&9J@?N:BH&8:&<@;N@;9A:&@F&:&:PQ8A:?&8:&
@D<@;FAG;&I&8:&NJ?:9AG;&N@&NA9E:F&L=?P:F&FA@PQ?@&Q=?&P=<AR=F&@DQ?@FAR=F5
3=? & =<?= & 8:N=H & Q:?: & 98:FALA9:? & 8:F & L=?P:F & A;F<?JP@;<:8@F & N@ & @F<@ & Q@?A=N= & N@K@P=F&
@;<@;N@? & 8:& NJ:8AN:N&PJFA9:8&N@8 &P=P@;<= &@;&9J:;<= &: &8: &NARAFAG; &@;&PUFA9: &Q:?: & 8:F&
#!%()"1&;3!/%1&c@;&N=;N@&8:&=?^J@F<:&@F&8:&Q?=<:>=;AF<:BH&I&PUFA9:&Q:?:&5"0."\%1&;3!/%1&
A;F<?JP@;<:8@F&cN=;N@&@8&Q?=<:>=;AF<:&@F&@8&QA:;=B5&
!

%FM&QJ@F&N@F<:9:P=F&N@;<?=&N@&8:F&#!%()"1&;3!/%1(
): &>=8G78H5 * @7K[89=A5( & ^J@ & @DQ@?AP@;<:?m & ;=<:K8@F & 9:PKA=F5 & #; & >@;@?:8&
:JP@;<:&FJF&NAP@;FA=;@FH&:FM&9=P=&@8&;UP@?=&N@&<@P:FH&9JI=&9:?m9<@?&P@8GNA9=&
Z_

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

PmF & ^J@ & P=<MRA9=H & NALA9J8<: & FJ & N@F:??=88=5 & #8 & ?A<P= & :?PG;A9= & F@ & ?:8@;<Ah: & I & 8:&
<=;:8AN:N&F@&RJ@8R@&PmF&9?=Pm<A9:H&=?A>A;:8&I&9=8=?AN:5&1@&<@;N@?m&:&8:&@S@9J9AG;&FA;&
Q:JF: & N@ & 8=F & NAF<A;<=F & P=RAPA@;<=F & cF=K?@ & <=N= & N@8 & <@?9@?= & :8 & 9J:?<=B & I & F@&
9=;9@;<?:?m&@8&P:<@?A:8&<@Pm<A9=&@;&bF<@&U8<AP=5&1@&A;<?=NJ9@;&@8@P@;<=F&:S@;=F&:8&
P@NA=&9=P=&F=;&8:&R=h&I&8=F&9=?=F5&1@&NAF<A;>J@;&<?@F&Q@?A=N=F(
# ,@;<?=&N@&J;&Q?AP@?&?=P:;<A9AFP=&FA;LG;A9=&N@F<:9:?M:P=F&8:F&6&FA;L=;M:F&N@&
`@@<E=R@;H & :FM & 9=P= & 8:F & FA;L=;M:F & N@ & 4?:;h & 19EJK@?<H & 4@8AD & $@;N@8FF=E; & I&
.=K@?<&19EJP:;;5
# #; &J;&F@>J;N= &Q@?A=N= &Q=N@P=F&N@F<:9:?&8:F&FA;L=;M:F &N@&k=E:;;@F&`?:EPF&
9=P=&?@Q?@F@;<:<AR:F&N@8&?@;:9APA@;<=&N@&8:&PUFA9:&:KF=8J<:&N@FQJbF&N@&'a]OH&I&
%;<G;&`?J9;@?&9JI:F&FA;L=;M:F&N@F<:9:;&Q=?&FJ&P=;JP@;<:8AN:N&I&FJF&>?:;N@F&
N@F:??=88=F5
# #8&<@?9@?&&Q@?A=N=&F@?M:&@8&RA;9J8:N=&9=;&@8&FA;L=;AFP=&Q=F?=Pm;<A9=&N@&0JF<:R&
$:E8@?&I&.A9E:?N&1<?:JFF5
#8 &A78A=:@97( & & #8 & 9=;9A@?<= & FA>J@ & <@;A@;N= & <?@F & P=RAPA@;<=F & :J;^J@ & F@&
@DQ@?AP@;<:?m&9=;&8:&@F<?J9<J?:&@;&9J:<?=H&:FM&9=P=&9=;&@8&@;8:9@&@;<?@&8=F&&PAFP=F5&
4J@?=;&PJI&:Q?@9A:N=F&8=F&N@&QA:;=&I&RA=8M;&:J;^J@&Q?m9<A9:P@;F@&F@&9=PQ=;@&
Q:?:&9:FA&<=N=F&8=F&A;F<?JP@;<=F&N@&8:&=?^J@F<:5&#8&9=;9A@?<=&L:R=?@9@&@8&RA?<J=FAFP=&
N@8 & A;<b?Q?@<@5 & ,@F<:9:; & 8=F & 9=;9A@?<=F & Q:?: & QA:;= & N@ & `@@<E=R@;H & 19EJP:;; & I&
`?:EPF&I&8=F&9=;9A@?<=F&Q:?:&RA=8M;&N@&`@@<E=R@;H&3:>:;A;AH&$@;N@8FF=E;&I&1:A;<7
1:;F5
): &KQ>=A5*L@7J@5K[9=A5(&F@&<?:<:&N@&PUFA9:&A;F<?JP@;<:8H&9=;&J;&q+3(,"(*)3&
"=,!%/.1*+%$rH&^J@&F@&9=PJ;A9:&:&<?:RbF&N@&J;&<M<J8=&=&Q?=>?:P:5&,A9E=&9=;<@;AN=&
@F<m & K:F:N= & @; & 8: & @DQ@?A@;9A: & RARAN: & Q=? & Q:?<@ & N@ & J; & 9=PQ=FA<=? & @; & 8: & ^J@ & F@&
N@F:??=88:; & :99A=;@FH & FA<J:9A=;@FH & APm>@;@F & = & AN@:F5 & #F<@ & Q?=>?:P: & @F<APJ8: & 8:&
L:;<:FM: &N@8&9=PQ=FA<=?&I&=?A@;<: &:8 &=I@;<@&E:9A:&J;:&N@<@?PA;:N:&NA?@99AG;5&)=&
=QJ@F<=&:&PUFA9:&Q?=>?:Pm<A9:&@F&8: &KQ>=A5*5F>7CE95H&@F&N@9A?H&:^J@88:&^J@&;=&
Q=F@@&AN@:F&@D<?:PJFA9:8@FH&;=&F@&:Q=I:&@;&J;&<@D<=&=&@;&=<?:F&AN@:F&F@9J;N:?A:F5

#;<?@&8:&PUFA9:&Q?=>?:Pm<A9:&F@&9J@;<:;(
! ):&1=8G78H5*L@7J@5K[9=A5(&QA@h:&FA;LG;A9:&Q:?:&=?^J@F<:&@;&R:?A=F&P=RAPA@;<=FH&
9=;&J;&9=;<@;AN=&@D<?:PJFA9:85&,@F<:9:;&8:&4*(;3(J%&]%(,S1,*+%&N@&Tb9<=?&`@?8A=hH&
8:&9J:8&>A?:&@;&<=?;=&:&J;:&RAR@;9A:&:P=?=F:&N@8&PAFP=&9=PQ=FA<=?&I&8:&4*(;3(J%&?^&
_&T%1,3!%$&N@&`@@<E=R@;5
! #8&37:K5*>=8G?8=A7(&@F&J;:&=K?:&=?^J@F<:8&@;&J;&F=8=&P=RAPA@;<=&I&N@&@F<?J9<J?:&
8AK?@H&9JI=&N@F:??=88=&RA@;@&N:N=&Q=?&8:&@DAF<@;9A:&N@&J;&@8@P@;<=&8A<@?:?A=&Q?@RA=5&#8&
9=PQ=FA<=? & ^J@ & PmF & N@F<:9G & 9=; & FJF & Q=@P:F & FA;LG;A9=F & LJ@ & 4?:;h & )AFh<H & ^JA@;&
9=PQJF= & N=9@ & N@ & @F<=F & Q=@P:FH & @;<?@ & @88=F( &A31 & 5!"$.)*31O & F%/$",O & G!;"3O &
D%P"55%O&>\31&)"&5"!"#!*(%+*I(Q
,@;<?=&N@&8:F &5"0."\%1&;3!/%1& N@F<:9:;&<=N:F&:^J@88:F&QA@h:F&K?@R@F&^J@&9?@:;&J;&
9=;SJ;<=&N@&8A<@?:<J?:&QA:;MF<A9:&9=P=&J;&P@NA=&:Q?=QA:N=&Q:?:&8:&@DQ?@FAG;&A;NARANJ:8&N@8&
8A?AFP=&I&@8&F@;<APA@;<=&?=Pm;<A9=F(&(3+,.!(31O&"1,.)*31O&'%$%)%1O&*/5!3/5,.1O&5!"$.)*31O &
!3/%(P%1O&<%$1"1O&53$3("1%1&/%P.!+%1O&@<95&
C=;&?@FQ@9<=&:&8:&PUFA9:&Q:?:&QA:;=&N@F<:9:P=F&:&8=F&FA>JA@;<@F&9=PQ=FA<=?@F(
4@iI:@=A * %<7L=8( & ?@Q?@F@;<: & @8 & >@;A= & ?=Pm;<A9= & @; & @F<:N= & QJ?=H & A;NARANJ:8AF<: & I&
?@98JAN=H&^J@&KJF9:&8:&@R:FAG;&9=;&?@FQ@9<=&:8&PJ;N=&@D<@?A=?5&1J&?=P:;<A9AFP=&F@&E:9@&
Q:<@;<@&@;&FJ&F@;<APA@;<=&Q:<?AG<A9=H&:FM&9=P=&@;&9:?m9<@?&9:FA&:KF<?:9<=&N@&FJ&PUFA9:H&^J@&
Za

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

EJI@&N@&8:F&L=?P:F&@F<:K8@9AN:F5&/;FAF<AP=F&@;&FJF &"1,.)*31H&FJF&9A98=F&N@ &5!"$.)*31H&FJF&

9J:<?= &'%$%)%1& I&FJF &53$3("1%1& I &/%P.!`%1& N=;N@&PJ@F<?:&FJ&9:?m9<@?&;:9A=;:8AF<:&N@8&
@FQM?A<J&?=Pm;<A9=5
4@58` * -=>`9( & C=;FAN@?:N= & @8 & QA:;AF<: & RA?<J=F= & PmF & >@;A:8 & N@ & <=N=F & 8=F & <A@PQ=F5 & 1JF&
@F<JNA=F & FJQJFA@?=; & J;: & ?@R=8J9AG; & @; & 8: & & 9=;9@Q9AG; & <b9;A9: & N@8 & QA:;= & Q=? & 8:F&
9=PKA;:9A=;@F & F=;=?:F & I & 9=;<?:F<@F & A;@FQ@?:N=F & ^J@ & 8=>?G5 & ,@F<:9G & <:PKAb; & Q=? & FJF&
<?:;F9?AQ9A=;@F&Q:?:&QA:;=&N@&=K?:F&FA;LG;A9:FH&Q=?&A;9=?Q=?:?&<M<J8=F&Q?=>?:Pm<A9=F&:&FJF&
=K?:F&Q:?:&QA:;=&I&Q=?&FJ&1=;:<:&@;&FA&P@;=?H&9=;FAN@?:N:&8:&=K?:&9JPK?@&N@&8:&PUFA9:&
Q:?:&QA:;=&N@&<=N=&@8&FA>8=&[/[5
/7F:@9 * 1A<EK588( &N@ & LJ@?<@ & L=?P:9AG; & 8A<@?:?A:H & F@ & N@NA9G & F=K?@ & <=N= & : & 8: & 9?M<A9:&
PJFA9:8&I&:&8:&9=PQ=FA9AG;5&1J&@F<A8=&KJF9G&8:&=?A>A;:8AN:N&I&;=&@8&RA?<J=FAFP=5&,@F<:9:;&
FJF&9A98=F&N@&=K?:F&Q:?:&QA:;=(&T%5*$$3(1H&8%!(%<%$H&61+"(%1&)"&(*\31O&a!"*1$"!*%(%H&@;<?@&
=<?:F5

Z6

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*+eT_*-5*KQ>=A5*M7A5C*:8*:C*/7K589=A=>K7T
'57&/;<?=NJ99AG;5
!57&#8&8A@N&?=Pm;<A9=(&19EJK@?<H&19EJP:;;H&`?:EPFH&g=8L&I&$:E8@?5
V57&):&PUFA9:&?@8A>A=F:5
V5'57&#8&=?:<=?A=(&$@;N@8FF=E;&I&)AFh<5
V5!57&):&PAF:5
V5V57&#8&?@^JA@P(&`@?8A=hH&`?:EPFH&Y@?NA&I&4:J?b5
X57&):&GQ@?:5
X5'57&4?:;9A:5
X5'5'57&):&0?:;Nn=Qb?:5
X5'5!57&):&GQ@?:&9GPA9:5
X5'5V57&):&=Q@?@<:5
X5!57&/<:8A:(&.=FFA;AH&,=;Ah@<<AH&`@88A;AH&Y@?NA&I&3J99A;A5
X5V57&%8@P:;A:(&g@K@?&I&g:>;@?

!"#$<)*-+5=''/>)"
#8 & FA>8= & [/[ & @F & <?:F9@;N@;<:8 & Q:?: & 8: & PUFA9: & N@ & *99AN@;<@5 & #; & b8 & F@ & A;F9?AK@ & @8&
.=P:;<A9AFP=H&Q@?A=N=&^J@&<A@;@&FJ&=?A>@;&@;&8:&.@R=8J9AG;&4?:;9@F:&I&^J@&@;&J;:&J&=<?:&
R:?A:;<@&88@>:?m&E:F<:&@8&FA>8=&[[5
#8 & PUFA9= & ?=Pm;<A9=H & 9JI: & Q?=NJ99AG; & :K:?9: & Q?m9<A9:P@;<@ & <=N=F & 8=F & >b;@?=FH&
9=;FAN@?:&^J@&FJ&:?<@&@F&J;:&@DQ?@FAG;&Q@?F=;:8&N@8&F@;<APA@;<=&I&;=&N@K@&@F<:?&FJS@<=&:&
8APA<:9AG;&:8>J;:5&#;&9=;F@9J@;9A:H&8=F&P=8N@F&98mFA9=F&8@&?@FJ8<:;&@F<?@9E=F&I&8=F&@DQ:;N@&
RA>=?=F:P@;<@5&#J?=Q:&9@;<?:8&F@&9=;RA@?<@&@;&@8&@S@&N@&8:&PUFA9:&=99AN@;<:8&@;&<=N=F&8=F&
<@??@;=F&@D9@Q<=&@;&8:&GQ@?:H&9JI:&FJQ?@P:9M:&FA>J@&=F<@;<:;N=&/<:8A:5

7"# $ %& $ &/.5 $ -+1c)*/'+Q $ E'A=K.-*` $ E'A=1())` $ L-(A12` $ j+&4 $ B $

8(A&.-"
)A@N&@F&J;:&Q:8:K?:&:8@P:;:&9JI=&Q8J?:8&@F&8A@N@?&I&^J@&FA>;ALA9:&9:;9AG;5&1A;&@PK:?>=H&
9=P=&L=?P:&PJFA9:8&<A@;@&J;:&:9@Q9AG;&PmF&9=;9?@<:(&@F&J;:&9:;9AG;&Q:?:&R=h&F=8AF<:&9=;&
:9=PQ:W:PA@;<=&N@&QA:;=H&@;&@8&9J:8&@8&QA:;=&9=PQ:?<@&Q=?&A>J:8&8:&<:?@:&N@&Q?@F<:?&:Q=I=H&
A8JF<?:?&@&AN@;<ALA9:?&@8&FA>;ALA9:N=&N@&8:&Q=@FM:5&
):&Q?AP@?:&QA@N?:&N@8&@NALA9A=&?=Pm;<A9=&N@8&8A@N&8:&Q=;@ &4?:;h* 1A<EF:@95&C=PQ=;@&
PmF&N@&]OO&8A@N@?H&^J@&:>?JQ:&:&R@9@F&@;&9=8@99A=;@F5&1=;&KmFA9=F&8=F&9A98=F&9=P=&A%&'"$$% &
/3$*("!%& I &2*%H" & )" & *(<*"!(35 & %J;^J@ & @F<: & PUFA9: & 8@ & N: & Q=9= & bDA<= & @; & RAN:H & F=;&
Q?@9AF:P@;<@&FJF&8A@N@?&J;:&N@&8:F&:Q=?<:9A=;@F&PmF&APQ=?<:;<@F&N@&19EJK@?<5
1A<EK588H&PmF&?=Pm;<A9=&I&@DQ?@FAR=&^J@&19EJK@?<H&F@&Q?@=9JQ:&N@&8:&@DQ?@FAG;&N@8&
F@;<APA@;<=&I&N@&A;<@;FALA9:?&8=F&@L@9<=F&I&@8&9=8=?AN=&N@&8:&PUFA9:H&@FQ@9A:8P@;<@&@;&8:&
9=8@99AG; &>/3!&E&<*)%&)"&.(%&/.H"!H&I&@; &>/3!&)"&53",%z&@F&N@9A?H&F@&9=;RA@?<@H&@;&FJ&
P:I=?&Q:?<@H&@;&8:&@DQ?@FAG;&N@&8=F&N=8=?@F&N@8&:?<AF<:&I&N@&FJF&F@;<APA@;<=F&:;<@&@8&PJ;N=5
k=E:;;@F* ^@5<K>& Q?=NJ9@ & !]O & 8A@N@? & ?@8:9A=;:N=F & 9=; & 8=F & N@ & 19EJP:;; & Q=? & FJ&
F@;<AP@;<:8AFP=5 & 1A; & @PK:?>=H & `?:EPF & F@ & :9@?9: & PmF & : & 8: & PUFA9: & Q=QJ8:? & <=P:;N=&
PJ9E=F&<@P:F&N@&bF<:&I&N:;N=&:&FJF&9:;9A=;@F&J;&QA;<=?@F^JAFP=&9:?:9<@?MF<A9=5&#;<?@&FJF&
9A98=F&N@F<:9:;&8:F&W3/%(P%1&)"&D%#"$3("5
TJ>=*b7$G&A;<@;<:?m&?@Q?=NJ9A?H&9:FA&N@&P:;@?:&8A<@?:8H&@8&<@D<=&:&<?:RbF&N@&8:&PUFA9:5&
,@;<?=&N@&FJ&=K?:&F@&NAF<A;>J@;&FJF&9=8@99A=;@F(&A*")"!&"15%\3$"1H&A*")"!&*,%$*%(31H&A*")"!&
13'!"&M3",7"5&
]O

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

(5<C:@& FG8= & 9=PQJF= &X * A=AC7> * I: * C=:I:@& I &+e * >=8G78H5>5 & )= & Q@9J8A:? & N@ & @F<@&
9=PQ=FA<=?&@F&^J@&KJF9G&NJ?:;<@&<=N:&FJ&RAN:&8:&FM;<@FAF&N@&@F<=F&N=F&>b;@?=F&9=;FAN@?:N=F&
E:F<:&@;<=;9@F&A??@9=;9A8A:K8@FH&8:&FA;L=;M:&I&@8&8A@NH&N@&P:;@?:&^J@&@;&@8&L=;N=&N@&FJF&
FA;L=;M:F&F@&@;9J@;<?:&FA@PQ?@&@8&@FQM?A<J&N@8&8A@N&IH&:8&9=;<?:?A=5&%FMH&$:E8@?&9=PQ=;N?m&
8A@N@?&:9=PQ:W:N=F&N@&>?:;&=?^J@F<:5
"?@F&N@&FJF&Q?AP@?:F&=K?:F&LJ@?=;&@F@;9A:8@F&@;&8:&L=?PJ8:9AG;&N@&FJ&@F<A8=&I&J;&KJ@;&
9:PQ=&N@&@DQ@?AP@;<:9AG;(&@8&9A98=&N@ &8%(+*3("1&)"&.(&+%/*(%(,"H&@F<m&@;<?=;9:N=&9=;&
19EJK@?<H&FA>J@&8:&=K?:&<A<J8:N:&6$&+."!(3&/S#*+3&)"&$%&H.<"(,.)&I&8=F&a*()"!,3,"($*")"!5&
1JF&9A98=F&<@?PA;:;&9=;&A%&+%(+*I(&)"&$%&K*"!!%5

F"#$0($192/'($-.&/,/+2("

#8&>JF<=&N@&8=F&?=Pm;<A9=F&Q=?&PA?:?&E:9A:&:<?mF&8@F&88@RG&:&?@N@F9JK?A?&8:&&>?:;N@h:&N@&
8:&9J8<J?:&9?AF<A:;:&IH&@;&9=;F@9J@;9A:(
! .@9JQ@?:9AG; & N@ & PUFA9:F & N@8 & Q:F:N=H & Q=? & @S@PQ8= & N@ & k=E:;; & 1@K:F<A:; & `:9EH&
?@N@F9JKA@?<=&Q=?&$@;N@8FF=E;5
! ):&APA<:9AG;&N@&P=N@8=F&PJFA9:8@F&N@&8:&%;<A>~@N:N5
! ):&?@F<:J?:9AG;&N@&PUFA9:F&8A>:N:F&:8&9:;<=&IH&@FQ@9A:8P@;<@H&:&9A@?<:F&L=?P:F&9=P=&
@8&7@597@=7&I&@8&@i\E=:K5
! fF=&N@&<@P:F&PJFA9:8@F&:;<A>J=F&@&A;L8J@;9A:&N@8&>?@>=?A:;=&I&8:&Q=8AL=;M:5

VT+T_*&C*7@597@=7,*(:8I:C>>7<8*D*-=>`9T

):&Q?AP@?:&L=?P:&^J@&FJL?@&J;:&98:?:&?@F<:J?:9AG;&@F&8:&N@8&=?:<=?A=5&#F<:&?@F<:J?:9AG;&
FJ9@N@&:&Q:?<A?&N@&Z5DI8H&^J@&9=PQ=;@&A%&8!"%+*I(&@&A;A9A:&8:&?@9JQ@?:9AG;&N@8&>b;@?=&
@;&8=F&Q:MF@F&>@?Pm;A9=Fz&Q@?=&@F &(:8I:C>>7<8& ^JA@;&8@&N:&APQ=?<:;9A:&9=PQ=;A@;N=&
N=;&K@88:F&=K?:FH&T%.$.1&I&6$J%1H&^J@&<A@;@;&9=P=&P=N@8=&8=F&=?:<=?A=F&N@&T:@;N@85
4@58`*-=>`9& :K:;N=;G&g@AP:?&I&F@&<?:F8:NG&:&.=P:&N=;N@H&@;&'a]ZH&A;>?@FG&@;&8:&
/>8@FA: & C:<G8A9:5 & %FMH & @; & 8: & Nb9:N: & N@ & 'a]O7'a_O & 9=PQJF= & N=F & @;=?P@F & =?:<=?A=FH &A%&
$"E"()%&)"&4%(,%&U1%'"$&c'a]!B&I&87!*1,.15&#8&Q?AP@?=&@F&9:FA&J;:&GQ@?:H&PA@;<?:F&^J@&@8&
F@>J;N=&@F&PJI&?@9=>AN=&I&?@9J@?N:&:&FJF&PAF:F5

VTUT_*-5*K=>5T
,@F<:9:;&=K?:F&<:;&APQ=?<:;<@F&9=P=&8: &D*1%&13$"/(*1& N@ &^::9<7M:8H&J;:&N@&FJF&
=K?:F&LJ;N:P@;<:8@FH&:FM&9=P=&8:F&N@ &-=>`9H&^J@&N@SG&<?@F&PAF:F&Q:?:&9=?=&I&=?^J@F<:5&
C=PQ=FA<=?@F&N@&PAF:F&LJ@?=;&<:PKAb;&)8978*^@EAp8:@&I&%<5@C:>*07E87I5

VTVT_*&C*@:\E=:K,*^:@C=7`B*^@5<K>B*P:@I=*D*45E@iT

f;&8J>:?&@FQ@9A:8&N@;<?=&N@&@F<:F&PAF:F&8=&=9JQ:&@8&?@^JA@PH&^J@&@F&8:&PAF:&N@NA9:N:&:&
8=F&PJ@?<=F5&)=F&?=Pm;<A9=F&LJ@?=;&:<?:MN=F&Q=?&@8&<@P:&N@&8:&PJ@?<@&I&N@8&PmF&:88mH&I&Q=?&
@F=&@F<@&>b;@?=&?@9JQ@?G&J;:&>?:;&<?:F9@;N@;9A:5&(7`5@9&A;A9A:&8:&?@9JQ@?:9AG;&N@8&>b;@?=&
9=;&FJ&W"0.*"/H&&Q@?=&@F<:&L=?P:&88@>:&:&FJ&9J8P@;&9=;&<?@F&>?:;N@F&=K?:F&N@&PJI&NAF<A;<=&
9:?m9<@?(&M!%(&/*1%&)"&$31&/."!,31&N@&^:@C=7`H&N@&J;:&>?:;NA=FAN:N&FA;&8MPA<@F&^J@&<A@;@&
@;&9J@;<:&@8&@F<A8=&9=8=F:8&?=P:;=&N@8&FA>8=&[Y//z&@8 &W"0.*"/&>$"/S(& N@ &^@5<K>H&PJI&
NAF<A;<=H&9=;&<@D<=&@;&:8@Pm;&I&FA;&LA;@F&8A<U?>A9=FH&I&@8 &W"0.*"/& N@ &P:@I=H&<=<:8P@;<@&
A;L8JAN=&Q=?&8:&GQ@?:5&f; &W"0.*"/& PJI&NAF<A;<=&:&<=N=F&@88=F&Q=?&FJ&F=K?A@N:N&@F&@8&N@&
0:K?A@8&45E@i5

]'

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

N"#$0($>;.-("
WT+T_*4@58A=5T

"?@F & F=; & 8=F & L@;GP@;=F & =Q@?MF<A9=F & ^J@ & ;:9@; & @; & 8: & 4?:;9A: & ?=Pm;<A9:( & 8:&
0@58Iq7Li@5H&8:&jL:@5*A?K=A5&I&8:&.L:@:955&)=F&QJ;<=F&N@&Q:?<AN:&Q:?:&9=PQ?@;N@?&
@8&A;A9A=&I&@98=FAG;&N@&8:&GQ@?:&?=Pm;<A9:&F=;&bF<=F(
! ): &A;L8J@;9A:& N@&8:&.@R=8J9AG;&4?:;9@F:H&@8&APQ@?A=&;:Q=8@G;A9=&I&8:&Q?@F@;9A:&N@&
0CEAp&9=;RA@?<@;&:&3:?MF&@;&@8&>?:;&9@;<?=&N@&8:&GQ@?:&@;&8=F&Q?AP@?=F&P=P@;<=F&
N@8&.=P:;<A9AFP=5
! ):&98:F@&P@NA:H&9:N:&NM:&PmF&LJ@?<@H&9=PA@;h:&:&A?&:&8:&GQ@?:&I&N@P:;N:&J;:&GQ@?:&
;J@R:&I&@FQ@9<:9J8:?&^J@&F@&N@;=PA;:?m &M!%()B35C!%H&9=;9@KAN:&Q:?:&F@NJ9A?&:8&
QUK8A9= & : & <?:RbF& N@& 8=F &>?:;N@F& P@NA=F& ^J@ & @PQ8@:( & >?:;& =?^J@F<:H & 9=?=H& K:88@<H&
@F9@;:?A=F&>?:;NA=F=F5
! 3=?&=<?:&Q:?<@H &/<:8A:& @;9J@;<?:&@;&8:&GQ@?:&@8&P=N=&N@&@DQ?@FAG;&N@&FJF&AN@:8@F&
;:9A=;:8AF<:FH&I&PmF&<:?N@&8=&E:?m&%8@P:;A:5
N"!"!"#$0($R-()5k+;P-("

):F&9:?:9<@?MF<A9:F&^J@&N@LA;@;&8:&M!%()B35C!%&F=;(
! #PQ8@=&N@ &>?:;N@F&@F9@;=>?:LM:F& I&N@9=?:N=F&^J@&9=;<A@;@;&Q:AF:S@FH&;:<J?:8@h:H&
@<95
! 1J@8@&<@;@?&9A;9=&:9<=FH&P@;=F&L?@9J@;<@P@;<@&<?@F5
! /;98JI@&<=N=&<AQ=&N@&<@:<?:8AN:N@F&I&F@;F:9A=;:8AFP=FH&9=P=&8:&Q?@F@;9A:&N@8&K:88@<H&
>?:;N@F&P:F:FH&9@?@P=;A:FH&9=;L?=;<:9A=;@FH&@<95
! #8&9=?=&<=P:&PmF&APQ=?<:;9A:H&APQ8A9m;N=F@&@;&8:&:99AG;5
! fF=&N@&J;:&>?:;&=?^J@F<:H&^J@&N@S:&N@&F@?&J;&:N=?;=&Q:?:&APQ8A9:?F@&@;&@8&N?:P:5
#8&>b;@?=&N@;=PA;:N= &M!%()B35C!%& F@&FJ@8@&E:9@?&9=P@;h:?&9=;&8:&=K?:&N@ &,:;A@8&
)EF:@& A%&/.,%&)*&T3!,*+*H&@F<?@;:N:&@;&'a!a5&): &M!%()B35C!%&;@9@FA<G&N@&J;&8AK?@<AF<:H&
#J>;@* 1A@=F:H&Q:?:&9=;F<A<JA?F@&9=P= &L=?P:&@FQ@9MLA9:z &I&N@&J;&9=PQ=FA<=? &0A:9=P=&
(:D:@F::@T&):F&N=F&=K?:F&N@&@F<@&:J<=?&^J@&@F<:K8@9@;&@8&@F<A8=&F=;&W3'"!,&$"&)*%'$"&I&A31 &
7.#3(3,"1H&9=;9@KAN:F&Q:?:&APQ?@FA=;:?&I&FJKIJ>:?&:8&QUK8A9=5
N"!"7"#$0($>;.-($'>1/'("

$A@;<?:F & 8: & 0?:;Nn=Qb?: & @F9?AKM: & FJF & P@S=?@F & Qm>A;:FH & 8: &\Q@?: & 9GPA9:H & 8@S=F & N@&
N@F:Q:?@9@?H&@R=8J9A=;:K:5&1@&9?@:&J;&<AQ=&N@&=K?:&N@&>JF<=&;:<J?:8AF<:&I&@;<?@<@;AN=&Q:?:&
J;&;J@R=&QUK8A9=&KJ?>JbF&^J@&KJF9:&@;&8:&GQ@?:&:;<@&<=N=&@;<?@<@;APA@;<=5&):F&NAL@?@;9A:F&
N@&8:&GQ@?:&9GPA9:&9=;&8:&:;<@?A=?&@?:;(
! fF:&@8&NAm8=>=&E:K8:N=5
! #F &P@;=F & :PKA9A=F: & PJFA9:8P@;<@H & 9=; & P@;=F & 9:;<:;<@F & I & 9=; & =?^J@F<: & P@;=F&
;JP@?=F:5
! &)@;>J:S@&PJFA9:8&PmF&F@;9A88=&H&9=;&J;:&P@8=NM:&PmF&>?:9A=F:&I&F@;<AP@;<:85
! )=F&:?>JP@;<=F&F=;&J;:&9=P@NA:&=&J;&N?:P:&F@PAF@?A=5
,@;<?=&N@&@F<@&>b;@?=&FJ?>@;&NAR@?F:F&R:?A:;<@F(&8:&jL:@5*A?K=A5&Q?=QA:P@;<@&NA9E:H&
8:&jL:@5*CH@=A5&I&8:&.L:@:955&
#8&<b?PA;=&qjL:@5*CH@=A5r&F@&@PQ8@:&Q:?:&F@W:8:?&J;&<AQ=&N@&PUFA9:&A;<@?P@NA:&@;<?@&
8: & \Q@?: & 9GPA9: & I & 8: & 0?:;Nn=Qb?:5 & 1J &:<?:9<AR=H & 9=P= & @; & 8: & 9GPA9:H & F@ & 9=;FA>J@&
]!

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

LJ;N:P@;<:8P@;<@&:&<?:RbF&N@&8:&P@8=NM:z&FJ&<@P:&@F&@8&N?:P:&=&8:&L:;<:FM:&?=Pm;<A9=FH&I&
@F&N@&P:I=?&NAP@;FAG;&^J@&8:&GQ@?:&9GPA9:5&#8&@S@PQ8=&PmF&L:P=F=&N@8&>b;@?=&@F&]%.1,3&=&
W3/"3&E&X.$*",%H&N@&CE:?8@F*07E87IH&=&4%(1I(&E&:%$*$%&N@&C:PA88@*15=89_15r8>5
f;&8J>:?&@FQ@9A:8&P@?@9@ &8%!/"(H&N@ &0@=?>@F* ^=`:9H&=K?:&N@&>?:;&R:8M:&@;&8:&^J@&@8&
PUFA9=&F@&=Q=;@&:&8:F&<@=?M:F&l:>;@?A:;:F5
N"!"F"#$0($+;.-.*("

#8&U8<AP=&>b;@?=&^J@&:Q:?@9@&@;&8:&Nb9:N:&N@&8=F&F@<@;<:H&8=&9=;F<A<JI@&8:&q*Q@?@<:r5&
#F<@&FJK>b;@?=&?@L8@S:&@8&@FQM?A<J&N@8&1@>J;N=&/PQ@?A=&L?:;9bF&9=;&J;:&PUFA9:H&FJ9@F=?:&N@&
8:&GQ@?:&KJL:&I&N@8&R=N@RA8H&^J@&9=PKA;:&Q:F:S@F&E:K8:N=F&9=;&=<?=F&9:;<:N=FH&I&^J@&;=F&N:&
J;:&AP:>@;&Q@?L@9<:&N@&8:&F=9A@N:N&L?MR=8:&N@8&1@>J;N=&/PQ@?A=H&Q@?=&^J@H&9J?A=F:P@;<@H&
APQ8A9: & PJ9E:F & R@9@F & J;: & Fm<A?: & F=9A:8 & I & ?ANA9J8Ah:9AG; & N@8 & :PKA@;<@ & N@ & @F<@ & ?b>AP@;&
Q=8M<A9=5
):&=Q@?@<:&A;<?=NJ9@&:8>J;=F&9:PKA=FH&9=P=(
! +J@R=F&@8@P@;<=F&P@8GNA9=F&I&?M<PA9=F&N@&9:?m9<@?&9AJN:N:;=5
! %?P=;M:F&I&<@D<J?:F&PJI&F@;9A88:FH&Q@;F:N:F&Q:?:&J;&QUK8A9=&P@;=F&9J8<=5
! 3?@F@;9A:&N@&8:&N:;h:&I&N@&?A<P=F&N@&P=N:5
1J&Q?AP@?&:J<=?&N@F<:9:N=&@F&k:9^J@F*.GG:8F5A<H&^J@&F@&EAh=&L:P=F=&:&Q:?<A?&N@&=K?:F&
9=P= &G!;"3 & "( & $31 & *(;*"!(31H &A% & '"$$% & F"$"(%& I &A% & <*" & 5%!*1*"(("5 & #F<@ & >b;@?= & <JR=&
<:PKAb;& J;&N@F:??=88=&APQ=?<:;<@&@; &%JF<?A:& 9=; &k=E:;;* 19@5E>>*c<=N76H&:J<=?&N@ &6$&
/.!+*C$%#3H&I&@;&/;>8:<@??:&9=;&0=CF:@9*D*1ECC=M58H&9=;&6$&/*`%)35

WTUT_**$95C=5,*/7>>=8=B*#78=`:99=B*^:CC=8=B*P:@I=*D*3EAA=8=T
#;&/<:8A:&8=F&9:PKA=F&N@&8:&GQ@?:&@;&8=F&A;A9A=F&N@8&FA>8=&[/[&F=;&P@;=F&98:?=FH&Q=?^J@&
F@ & 9=;<A;U: & J;: & I: & ?A9: & <?:NA9AG; & =Q@?MF<A9:5 & 3=? & @88=H & @8 & ?=P:;<A9AFP= & @;<?: & PmF&
8@;<:P@;<@&I&8:&NAF<A;9AG;&@;<?@&GQ@?:&F@?A:&I&KJL:&<=N:RM:&F@&P:;<A@;@&Q=?&J;&<A@PQ=5
#8&<?m;FA<=&@;<?@&8:&GQ@?:&N@8&FA>8=&[Y///&I&8:&N@8&[/[&8=&?@:8Ah: &0A=:99EA;=* /7>>=8=*
c'_6!7'a]aBH&^J@&?@Q?@F@;<: &8: &9J8PA;:9AG;&N@&8:&GQ@?:&;:Q=8A<:;: &N@8&FA>8=&[Y///& I& @8&
9=PA@;h=&N@&J;:&;J@R:&bQ=9:H&I&@F&J;=&N@&8=F&9=PQ=FA<=?@F&PmF&:NPA?:N=F&NJ?:;<@&@8&
FA>8=&[/[5&,=<:N=&N@&J;:F&9J:8AN:N@F&P@8GNA9:F&APQ?@FA=;:;<@F&I&N@&J;&=8L:<=&;:<J?:8&Q:?:&
8:&@F9@;:H&9=PQ=;@&V!&GQ@?:FH&@;<?@&FJF&'a&I&V!&:W=F&c@;&^J@&N@S:&N@&9=PQ=;@?&GQ@?:B5&1J&
Q?AP@?&bDA<=&8=&:89:;h:&9=;&FJ&GQ@?:&F@?A:&K%(+!")*&@;&'a'VH&:&8:&^J@&FA>J@;&R:?A:F&9GPA9:F&
^J@&9=;>@;A:K:;&P@S=?&9=;&FJ&9:?m9<@?H&9=P=&FJ&=K?:&P:@F<?:&6$&'%!'"!3&)"&4"<*$$%H& &A%&
8"("!"(,3$%5&":PKAb;&Q?J@K:&@;&8:&0?:;Nn=Qb?:&9=;&M.*$$"!/3&K"$$5&
0:@<:;=* #78=`:99= *9=PQ=;N?m* =K?:F & F@?A:F & 9=P= &A.+*% & )" & A%//"!/33!H & GQ@?:F&
KJL:F&9=P= &Ab6$*1*!&)B>/3!"& I &:3(&T%1+.%$"H&=&9GPA9:FH&9=P= &A%&7*H%&)"$&!"#*/*"(,35&
C=P=&9=PQ=FA<=?&<@;M:&@8&PAFP=&A;F<A;<=&P@8GNA9=&^J@&.=FFA;AT *#;&>@;@?:8H&FJF&GQ@?:F&
9GPA9:F&F=;&N@&PmF&R:8=?5&1J&=K?:&@F<m&@;?:Ah:N:&@;&8:&RAN:&N@8&QJ@K8=&A<:8A:;=5
YA;9@;h=* ^:CC=8= *@F<m& PmF&A;L8JAN=&I:&Q=?&@8&.=P:;<A9AFP=&@;&8=F&<@P:F&^J@&<?:<:&IH&
F=K?@&<=N=H&@;&@8&LJ@?<@&:Q:FA=;:PA@;<=&I&N?:P:<AFP=&^J@&N:&:&FJF&=K?:F5&1JF&NA@h&GQ@?:F&
Q@?<@;@9@;&:8&>b;@?=&F@?A=5&#;<?@&@88:F&N@F<:9:&A%&13(S/'.$%H&?3!/%H&&@&U&5.!*,%(*5&
0AJF@QQ@* P:@I= *@F&@8& >?:;&>@;A= &N@& 8:& GQ@?: &A<:8A:;: &N@8 & FA>8= &[/[H &I& ;= & F@ &QJ@N@&
]V

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

@;<@;N@?&FA;&@8&Q:F:N=&=Q@?MF<A9=&A<:8A:;=5&#F &E@?@N@?=& N@&8:&=K?:&N@&,=;Ah@<<A&I&`@88A;A5&

C=;FAN@?:&8:&GQ@?:&9=P=&J;&P=N=&N@&9=;<:?&@8&N?:P:&EJP:;=&IH&Q=?&@88=H&?@98:P:&@;&FJF&
8AK?@<=F&FA<J:9A=;@F&@P=9A=;:8@F&LJ@?<@F&I&RA=8@;<:F5&"?:<:&<@P:F&N@&A;<@?bF&Q:?:&@8&QJ@K8=&
A<:8A:;=H&EJI@;N=&N@&:FJ;<=F&N@&<AQ=&PA<=8G>A9=5&#F<@&N?:P:&F@&9J@;<:&LJ;N:P@;<:8P@;<@&
:&<?:RbF&N@&8:&P@8=NM:&R=9:8&NA?@9<:&I&F@;9A88:5&#;?A^J@9@&8:&=?^J@F<:&<:;<=&@;&9=8=?&9=P=&@;&
<@D<J?:&I&:?P=;M:5
1J&@D<@;F:&=K?:&F@&FJ@8@&NARANA?&@;&<?@F&Q@?M=N=F(
! 3@=K:@75&#8&N@&P@;=?&R:8=?H&9=;&J;:&=K?:&P:@F<?:H&A.*1%&D*$$"!5&2:&@;&b8&F@&@DEAK@&
FJ & Q=N@?=F= & F@;<AN= & N?:Pm<A9= & I & Q?=LJ;N=F & @F<JNA=F & QFA9=8G>A9=FH & :FM & 9=P= & FJ&
F@;<AN=&Q=8M<A9=5
! 1:JE8I75&#F<:&bQ=9:&F@&9=?=;:&9=;&W*#3$",,3H&6$&,!3<%)3!&I&A%&K!%<*%,%H&@;&N=;N@&
@8&PUFA9=&:89:;h:&I:&FJ&8@;>J:S@&9:FA&Q@?L@9<=5&":PKAb;&9=PQ=;@&=K?:F&N@&9:?m9<@?&
@DQ@?AP@;<:8H&9=P=&A%&;3!P%&)"$&)"1,*(3&I&:3(&8%!$35
! ':@A:@75&#;&@8&U8<AP=&Q@?M=N=&@F9?AK@ &>*)%H &G,"$$3H&FMPK=8=&N@8&>b;@?=&<?m>A9=H&I&
]%$1,%;;H&N@8&9GPA9=H&=K?:F&<=N:F&@88:F&^J@&9J8PA;:;&FJ&>?:;&:Q=?<:9AG;&:8&<@:<?=&
8M?A9=5
3EAA=8=&@F&@8&U8<AP=&9=PQ=FA<=?&A<:8A:;=&APQ=?<:;<@&N@;<?=&N@8&PJ;N=&=Q@?MF<A9=5&#F&
@;&>?:;&Q:?<@&M:@=>95H&Q@?=&;=&<=<:8P@;<@H&N:N=&^J@&PJ9E:F&N@&FJF&=K?:F&F=;&N@&:PKA@;<@&
L:;<mF<A9=& I&F@&F:8@;&N@8&PJ;N=&?@:85&3=?&@S@PQ8=H&FJ&=K?:&9JPK?@H &O=-()5+*H&@F&J;:&
8@I@;N:&PM<A9:5&*<?:F&=K?:F&APQ=?<:;<@FH&9=P=&A%&937V/"H&K31+%&I&D%)%/%&9.,,"!;$E5

WTVT_*)C:K58=5,*b:F:@*D*b5J8:@

#F&NJ?:;<@&@8&.=P:;<A9AFP=&9J:;N=H&Q=?&LA;H&8:&GQ@?:&:8@P:;:&@;9J@;<?:&FJ&9:PA;=&
A;N@Q@;NA@;<@&N@&8:&A;L8J@;9A:&A<:8A:;:&^J@&E:KM:&@F<:N=&Q?@F@;<@&N@FN@&@8&`:??=9=5
#F<:&;J@R:&GQ@?:&;:9@&9=;&]*)"$*3&N@&`@@<E=R@;H&@;&8=F&A;A9A=F&N@8&.=P:;<A9AFP=H&Q@?=&
@F&J;&9=;<@PQ=?m;@=&N@&@F<@&PUFA9=H&C:?8&$:?M:&R=;*b:F:@H&@8&^J@&@F<:K8@9@&Q8@;:P@;<@&
@F<@&>b;@?=5&#;<?@&FJF&=K?:F&N@F<:9: &6$&+%P%)3!&;.!,*<3H &G'"!I(& I &6.!E%(,7"5&#F<:F&<?@F&
GQ@?:F&Q?@F@;<:;&APQ=?<:;<@F&@8@P@;<=FH&9=P=&@8&JF=&N@&8=&F=K?@;:<J?:8&I&P:?:RA88=F=H&I&
<=N:F&A;9=?Q=?:;&>?:;N@F&:?A:F& Q:?:&8=F&Q?=<:>=;AF<:FH&9=;&?=P:;9@F&Q:?:&8=F&Q@?F=;:S@F&
P@;=?@F5&
):&=K?:&N@&.A9E:?N&b5J8:@&c'a'V7'aaVB&E:&Q?=R=9:N=&=QA;A=;@F&NAL@?@;<@F&I&:&R@9@F&
@;9=;<?:N:FH&Q@?=&;:NA@&QJ@N@&NJN:?H&:&Q@F:?&N@&@F<:F&NAF9JFA=;@FH&N@&FJ&APQ=?<:;9A:5&
,@FQJbF&N@&8:&PJ@?<@&N@&g@K@?&8:&GQ@?:&:8@P:;:&N@9:@z&b8 &;=&FG8=&8:&?@9JQ@?:H&FA;=&^J@&
9?@:& J; & ;J@R=&FAF<@P: &N@ &>?:;&<?:F9@;N@;9A:5 &1J&AN@:8&@F&E:9@?&J;:&GQ@?: &9JI: &:8<J?:&
:?<MF<A9:&F@:&F@P@S:;<@&:&8:&PmF&>?:;N@&PUFA9:&FA;LG;A9:5&3:?:&@88=H&KJF9:&@;&?@:8AN:N&J;&
;J@R=&<AQ=&N@&GQ@?:&^J@&N@;=PA;:&qN?:P:r5&
)=F&Q@?M=N=F&N@&FJ&=K?:&F=;(
! 3@=K:@75 & % &b8 &Q@?<@;@9@;& FJF &Q?AP@?:F &GQ@?:FH &@;<?@ & 8:F &^J@ & N@F<:9: &W*"(P*5 & %&
Q:?<A?&N@&6$&'.0."&;%(,%1/%&9=PA@;h:&:&JF:?&8:F&8@I@;N:F&>@?Pm;A9:F5
! 1:JE8I75&C=;&K%((7c.1"!H&@;&'aXZH&<?:<:&8:F&8@I@;N:F&N@8&$@NA@R=&I&@8&<@P:&N@8&
:P=?5&%&Q:?<A?&N@&:^JM&@F&9J:;N=&KJF9:&8: &7F@5*I:*5@9:*9795CH&9=;&=<?:&GQ@?:&N@&
Q:F=&^J@&@F&A37"(#!*(5
! ':@A:@75 & C=;& b8 & 9J8PA;: &8: & =K?: & N@& g:>;@?5 & C=PQ=;@ & @8& 9A98= & N@;=PA;:N= &6$&
%(*$$3&)"$&(*'"$.(#3H&^J@&9=;F<:&N@&9J:<?=&=K?:F&cJ;&Q?G8=>=&I&<?@F&S=?;:N:FB(&6$&3!3 &
)"$&W7*(H&A%&d%$`*!*%H&4*#;!*)3&I&6$&3+%13&)"&$31&)*31"15&3:?:&?@Q?@F@;<:?&@F<:&=K?:&
]X

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

;@9@FA<:&J;&<@:<?=&@FQ@9A:8&^J@&8@&@F&L:9A8A<:N=&Q=?&FJ&:PA>=&@8&?@I&)JAF&//&N@&`:RA@?:H&
@; &^5D@:E9<5&#F<:&9AJN:N&F@&9=;F<A<JI@H&N@FN@&@;<=;9@FH&@;&@8&9@;<?=&l:>;@?A:;=&
Q=?&@D9@8@;9A:
g:>;@?H&@;&P@NA=&N@&@F<:&<@<?:8=>M:&9=PQ=;@&=K?:F&<:;&APQ=?<:;<@F&I&NAR@?F:F&9=P=&
K!*1,S(&"&U13$)%H&J;:&EAF<=?A:&N@&:P=?H&A31&/%"1,!31&+%(,3!"1&)"&?e!"/'"!#H&N@&9:?m9<@?&
9GPA9=H&I&<@?PA;:&9=;&J;&N?:P:&?@8A>A=F=&T%!1*;%$H&@;&'aa!5
):&A;L8J@;9A:&N@&FJ&PUFA9:&@;&8=F&PUFA9=F&^J@&8@&FA>J@;H&E:F<:&^J@ &#:FE>>D& 8=>?@&
8AK@?:?F@&N@&@88:H&@F&@;=?P@H&;=&FG8=&@;&@8&9:PQ=&N@&8:&GQ@?:H&FA;=&<:PKAb;&@;&@8&N@&8:&
PUFA9:&FA;LG;A9:5
):F&9:?:9<@?MF<A9:F&N@&FJ&GQ@?:&F=;(
! 1@&K:F:&@;&8:&PA<=8=>M:&:8@P:;:H&E@9E=&PJI&APQ=?<:;<@H&N:N=&^J@&@F&@;&@F<:&bQ=9:&
9J:;N=&9=PA@;h:&@8&F@;<APA@;<=&N@&;:9A=;:8AN:N&:8@P:;:5
! 1J&AN@:8&@F&9=;F@>JA?&J;: &=K?:&N@&:?<@&<=<:8H&@F&N@9A?H&:^Jb88:&@;&8:&^J@&F@&N:;&8:&
J;AG;&N@&Q=@FM:H&PUFA9:H&N@9=?:9AG;H&:99AG;H&@<95&#;&?@:8AN:NH&FA>J@&9=;&@88=&@8&AN@:8&
?=Pm;<A9=&N@&88@>:?&:&J;&:?<@&@;&@8&^J@&@F<b;&A;98JAN:F&<=N:F&8:F&N@PmF5
! T:9@&N@&8: &=?^J@F<:H&I&;=&N@8&:?A:H &@8&QJ;<=&9?J9A:8&N@&FJF&GQ@?:FH&Nm;N=8@&>?:;&
APQ=?<:;9A:H&@;?A^J@9A@;N=&@8&8@;>J:S@&PJFA9:8&9=;&;J@R:F&:?P=;M:FH&9?=P:<AFP=&
IH&F=K?@&<=N=H&9=;&J;:&>?:;&?A^J@h:&<MPK?A9:5
! C?@:&J;&@8@P@;<=&=?^J@F<:8H&@8&$"*,/3,*<&PJFA9:8H&^J@&@F&8:&AN@:&J;A<:?A:&N@&8:&GQ@?:5&
#F&@8&@8@P@;<=&J;ALA9:N=?&N@&FJF&GQ@?:F5
! #;&9J:;<=&:&FJ&P@8=NM:H&?:?:F&R@9@F&8=&@F&@;&@8&F@;<AN=&A<:8A:;=5&#F<m&Q@;F:N:H&PmF&
KA@;H&Q:?:&F=F<@;@?&:8&<@D<=&I&L:9A8A<:?&8=F&NAm8=>=F&N@&8=F&9:;<:;<@Fz&Q=?&@88=H &;=&F@&
QJ@N@&E:K8:?&N@&:?A:&Q?=QA:P@;<@&NA9E:5&1@&8@&N@;=PA;:&qK:C7IH5*=8G=8=95r5

]Z

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*++,*-)*(a1$%)*")%$.")-$1')
'57&*?A>@;&I&9=;9@Q<=5&C:?:9<@?MF<A9:F5
!57&3?A;9AQ:8@F&@F9J@8:F&;:9A=;:8AF<:F
!5'57&.JFA:
!5!57&`=E@PA:
!5V57&3:MF@F&+G?NA9=F(&+=?J@>:&I&4A;8:;NA:
!5X57&+:9A=;:8AFP=&@FQ:W=8(
!5X5'57&#8&+:9A=;:8AFP=&@FQ:W=8
!5X5!57&TAF<=?A:&N@8&+:9A=;:8AFP=&@FQ:W=8
!5X5V57&1A>8=&[[(&
!5X5V5:57&):&0@;@?:9AG;&N@8&6aH&8:&N@&8=F&$:@F<?=F
!5X5V5K57&):&0@;@?:9AG;&N@8&!_
!5X5V5957&):&0@;@?:9AG;&N@8&Z'
!5X5V5N57&)=F&A;<@?>@;@?:9A=;:8@F&I&8:&0@;@?:9AG;&N@8&]'
!5Z57&/;>8:<@??:&I&8=F&#F<:N=F&f;AN=F
!5]57&TJ;>?M:
!5_57&/K@?=:Pb?A9:

!"$3Y<R%I$l$?3I?%CO3"$?GYG?O%Y\EO<?GE"
&&&&&,J?:;<@&8:&.@R=8J9AG;&4?:;9@F:&F@&Q=QJ8:?Ah:&@8&R=9:K8=&q;:9AG;r&I&FJ?>@&@8&9=;9@Q<=&N@&
;:9A=;:8AN:N5&):F&=9JQ:9A=;@F&;:Q=8@G;A9:F&@;:?N@9A@?=;&@8&m;AP=&N@&PJ9E:F&;:9A=;@FH&
^J@&L=?P:?=;&FJ&Q?=QA=&@F<:N=&Q:?:&N@L@;N@?F@&N@&9J:8^JA@?&=9JQ:9AG;&@D<?:;S@?:5&)=F&
@FLJ@?h=F & ;:9A=;:8AF<:F & 9J8PA;:; & @; & @8 & C=;>?@F= & N@ & YA@;:H & ^J@ & N@98:?: & A;RA=8:K8@F & 8=F&
N@?@9E=F & N@ & 9:N: & ;:9AG; & : & LAS:? & FJF & L?=;<@?:F5 & #8 & +:9A=;:8AFP= & F@ & P:;ALA@F<:&
Q?A;9AQ:8P@;<@ & @; & 8A<@?:<J?:H& Q=@FM: & I& PUFA9:H & :?<@F & ^J@ &F@ & J;@;& @;& PJ9E:F& =9:FA=;@F&
=?A>A;:;N=&K@88:F&9=PQ=FA9A=;@F5&T:I&@S@PQ8=F&@;&C:<:8JW:&cY@?N:>J@?&I&FJ&q%<8m;<AN:rBH&
%8@P:;A:&cg@K@?&I&FJ&q#8&9:h:N=?&LJ?<AR=r&=&g:>;@?&I&FJF&N?:P:F&PJFA9:8@FB5
&&&&&.@9E:h:&8:&J;AN:N&N@&;=?P:F&I&@F<A8=F&^J@&APQ@?:K:;&@;&@8&FA>8=&[Y///&@;&#J?=Q:H&9JI:F&
NA?@9<?A9@F&R@;M:;&P:?9:N:F&Q=?&4?:;9A:H&/<:8A:&I&3?JFA:5&#8&?@F<=&N@&8=F&Q:MF@F&9=QA:K:;&8=&
^J@&F@&E:9M:&@;&@88=F5&,=;N@&PmF&:??:A>:&@F&@;&8=F&Q:MF@F&^J@&;=&<JRA@?=;&=Q=?<J;AN:N&N@&
N@F:??=88:?H&E:F<:&@;<=;9@FH&J;&:?<@&@F<:K8@(&Q:MF@F&9@;<?=@J?=Q@=F&I&@F9:;NA;:R=FH&I&.JFA:5&
):F&9:?:9<@?MF<A9:F&N@&8:&PUFA9:&;:9A=;:8AF<:&F=;(
+T 3:?<@&N@&:9@;<=F&Q=QJ8:?@FH&<?:F9A@;N@&@8&9=8=?&8=9:8&I&Q:F:&:&F@?&J;AR@?F:85
UT 1@&K:F:&@;&8:&:FAPA8:9AG;&Q=?&Q:?<@&N@&8=F&9=PQ=FA<=?@F&N@&8=F&9:?:9<@?@F&@FQ@9MLA9=F&
N@8 & L=898=?@ & :J<G9<=;= & ^J@ & J<A8Ah:?m; & Q:?: & 8: & 9?@:9AG; & c?A<P=F & N@ & N:;h:FH & ?:F>=F&
@F<A8MF<A9=F & N@ & 9:;9A=;@FH & @F9:8:FH & >A?=F & P@8GNA9=FH & @F<A8= & A;F<?JP@;<:8555B & I & Q:?:&
@DQ?@F:?F@&9=P=&;:9A=;@F5&
VT #8 & <@P: & 9@;<?:8 & ;= & F@?m; & 8:F & L=?P:F & ^J@ & F=; & 8: & @DQ?@FAG; & N@ & J;: & F=9A@N:N&
:?AF<=9?m<A9:H&FA;=&8:&N:;h:&I&8:&9:;9AG;&Q=QJ8:?5
WT `UF^J@N:&N@&8:&J;AG;&@;<?@&8:&PUFA9:&I&8:&Q=@FM:&Q?=QA:&N@&9:N:&Q:MF
XT #8 & ?@9J??A? & :8 & L=898=?@ & 88@R: & : & ;J@R=F & 8@;>J:S@F & c@P:;9AQ:9AG; & P=N:8H & @F9:8:F&
Q@;<:<G;A9:FH&E@Dm<=;:FH555B
fT /;9=?Q=?:9AG;&:&8:&=?^J@F<:&N@&;J@R=F&A;F<?JP@;<=F&N@&Q@?9JFAG;&I&;J@R=F&@L@9<=F&
9=8=?AF<:F&@;&8:&=?^J@F<:9AG;
gT 3=?&8:&PAFP:&?:hG;H&@F<:&PUFA9:&<A@;@&J;:&@FQ@9A:8&?A^J@h:&P@8GNA9:

7"$CY<I?<CG0%E$%E?Z%0GE$IG?<3IG0<EOGE
UT+T*/O1$)

&&&&&&#;&@8&Q?AP@?&9J:?<=&N@8&FA>8=&[/[&F@&N:;&8=F&Q?AP@?=F&A;<@;<=F&N@&9=;F<?JA?&J;:&GQ@?:&
@FQ@9MLA9:P@;<@&?JF:z&08A;:&c'aOX7'aZ_B&9=PQ=;@&8:&Q?AP@?:H&qf;:&RAN:&Q=?&@8&h:?rH&@;&8:&
^J@H&:U;&9=;&A;L8J@;9A:F&N@&.=FFA;A&I&N@&8:&0?:;N&\Q@?:&L?:;9@F:H&<?:<:&J;&<@P:&?JF=&9=;&
]]

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

?:F>=F&;:9A=;:8AF<:F&c9:;9A=;@F&?JF:F&AN@;<ALA9:K8@FH&@8&9=PQmF&Z{XH&P@8=NM:F&Q@;<:<G;A9:F&
I & :9=PQ:W:PA@;<= & :8 & J;MF=;=B5 & *<?= & 9=PQ=FA<=? & ^J@ & 9=;<?AKJA?m & : & Q@?LA8:?& 8: & K:F@& N@8&
;:9A=;:8AFP=&F@?m&,:?>=PAhEFI&c'a'V7'a]6BH&9=;&FJ&GQ@?:&q#8&9=;RAN:N=&N@&QA@N?:r5&#;&
<A@PQ=F & N@8 & h:? & %8@S:;N?= & // & F@ & A;F<:J?:; & A;F<A<J9A=;@F & @NJ9:<AR:F & PJFA9:8@FH&
Q?=NJ9Ab;N=F@&J;:&:PKA>~@N:N&:8&A;<@;<:?&:9:K:?&9=;&@8&?@<?:F=&@;NbPA9=&APQ=?<:;N=&
P=N@8=F&=99AN@;<:8@F&c%;<G;&.JKA;F<@A;&@;&$=F9UBH&I&:8&9J8<AR:?&8=&@FQ@9MLA9:P@;<@&?JF=&
c1:;&3@<@?FKJ?>=B5
&C*0@EL7*I:*C7>*%=8A7(&@F<:&@F9J@8:&F@&9:?:9<@?Ah:&Q=?&8:&N@L@;F:&>@;@?:8&N@&8:&PUFA9:&
?JF:&I&J;:&=Q=FA9AG;&L?=;<:8&:&8:F&A;F<A<J9A=;@F&PJFA9:8@F&=LA9A:8@F5&)8:P:N=F&<:PKAb;&q8:&
P:;:N:&Q=N@?=F:rH&@F<:K:;&=?>:;Ah:N=F&Q=?&$A8A&`:8:A?@R&c'aV_7'6'OBH&FA@;N=&@8&?@F<=&N@&
8=F&PA@PK?=F&C@F:?&CJA&c'aVZ7'6'aBH&%8@D:;N@?&`=?=NA;&c'aVV7'aa_BH&$=N@F<&$JF=?>FI&
c'aV67'aa'B&I&+A=8:A&.APFA7i=?F:=R&c'aXX7'6OaB5&%8>J;=F&N@&FJF&?:F>=F&9=PJ;@F&F=;(&
:8A@;<:;&:8&;:9A=;:8AFP=&?@;=R:;N=&@8&<@:<?=&8M?A9=
9=8=?AFP=&=?^J@F<:
N@S:;&PJ9E:F&=K?:F&FA;&<@?PA;:?
;=R@N:N@F&P=N:8@FH&?M<PA9:F&I&N?:Pm<A9:F
$A8A&`:8:A?@R(&FJ&LJ@?<@&Q@?F=;:8AN:N&N=PA;G&@8&>?JQ=H&9=??A>A@;N=&I&?@RAF:;N=&:8&&?@F<=5&
C=8@99A=;G&9:;<=F&Q=QJ8:?@F&I&LJ;NG&8:&+J@R:&#F9J@8:&N@&$UFA9:H&?AR:8&N@8&C=;F@?R:<=?A=5&
C=PQJF=&9:;9A=;@FH&=K@?<J?:F&I&Q=@P:F&FA;LG;A9=F5
C@F:?&CJA(&LJ@&@8&<@G?A9=&N@8&>?JQ=
%8@D:;N@?&`=?=NA;(&@;&FJF&N=F&FA;L=;M:F&I&@;&FJ&GQ@?:&q#8&3?M;9AQ@&/>=?r&F@&:NRA@?<@;&FJF&
@L@9<=F & =?^J@F<:8@F & cFJ & @FQ@9A:8 & <?:<:PA@;<= & N@8 & RA@;<= & P@<:8BH & :<?:9<AR:F & P@8=NM:F & @&
A;L8@DA=;@F&P=N:8@FH&I&J;:&<@;N@;9A:&:8&@D=<AFP=5&":PKAb;&N@F<:9:&FJ&QA;<J?:&PJFA9:8&q#;&
8:F&@F<@Q:F&N@8&%FA:&C@;<?:8r5
$=N@F<&$JF=?>FI(&SJ;<=&:&8=F&>?:;N@F&8A<@?:<=F&?JF=F&N@8&P=P@;<=H&9=PQ:?<@&@8&N@FNb;&
Q=? & 8: & K@88@h: & L=?P:8AF<:H & @8 & :?<@ & 8A>:N= & : & 8: & RAN: & I & :8 & QJ@K8= & ?JF=H & @8 & :?<@ & 9=P=&
9=PJ;A9:9AG;H&I&J;&9=;F9A@;<@&I&:>?@FAR=&@F8:RAFP=&^J@&FAPQ:<Ah:&9=;&@8&9:PQ@FA;=&?JF=5&
C:FA&<=N:&FJ&=K?:&LJ@&?@RAF:N:&Q=?&.APFA&i=?F:=RH&^J@&FJ:RAhG&FJ&mFQ@?:&=?^J@F<:9AG;5&
#F&@8&^J@&PmF&Q@;@<?:&@;&@8&:8P:&?JF:&9=;&FJF&@F9:8:F&P=N:8@FH&I&FJF&?A<P=F&I&P@8=NM:F&
8A<U?>A9:F & I & L=898G?A9:F5 & #;<?@ & FJF & =K?:F & 9A<:P=F & 8:F & GQ@?:F & q`=?AF & 0=NJ;=RrH&
qiE=R:;FE9EA;:rH&q#8&P:<?AP=;A=r&I&@8&Q=@P:&FA;LG;A9=&qf;:&;=9E@&@;&@8&P=;<@&Q@8:N=r5
+A=8:A&.APFA7i=?F:=R(&3=F@@&J;:&>?:;&E:KA8AN:N&=?^J@F<:N=?:H&?@RAF:;N=&8:F&=K?:F&&N@8&
>?JQ=5 & 1J & <b9;A9: & =?^J@F<:8 & F@ & P:;ALA@F<: & @; & @8 & ?@8A@R@ & ^J@ & N: & : & J;: & 8M;@: & P@8GNA9:&
Q?A;9AQ:8 & : & <?:RbF & N@ & N=K8:S@FH & :;J8:;N= & 8: & :9<ARAN:N & N@ & 8=F & ?@>AF<?=F & P@NA=F & I & K:S=F5&
C:89J8:&8=F&@L@9<=F&=?^J@F<:8@F&9JAN:N=F:P@;<@H&9JI:&F=;=?AN:N&F@&P:;ALA@F<:&@;&qC:Q?A9E=&
#FQ:W=8rH & q1E@?@h:N@r & I & q*K@?<J?: & N@8 & 4@F<AR:8 & N@ & 8: & 3:F9J: & .JF:r5 & 1JF & GQ@?:F & PmF&
9=;=9AN:F&F=;&q):&;=RA:&N@8&h:?r&I&q):&N=;9@88:&N@&;A@R@r

UTUT*^.Z&($)

#; & '__! & @8 & QJ@K8= & K=E@PA= & @F & @8 & PmF & PJFA9:8 & N@ & #J?=Q:H & Q@?= & Q=? & 8:F & >J@??:F&
NJ?:;<@ & FJ & EAF<=?A: & ;= & >=h:?m & N@ & 8:F & PAFP:F & =Q=?<J;AN:N@F & ^J@ & /<:8A:5 & #; & '6'a & F@&
A;N@Q@;NAh:H&J;ALA9m;N=F@&`=E@PA:H&$=?:RA:&I&#F8=R:^JA:H&9?@m;N=F@&CE@9=F8=R:^JA:5&)=F&
Q?AP@?=F&A;<@;<=F&N@&PUFA9:&9E@9:&F@&N:;&:&Q?A;9AQA=F&N@8&[/[&9=; &"=Pm@H&^J@&Q=;@&
PUFA9:&:&<@D<=F&9E@9=F&I&9=PQ=;@&P@8=NM:F&9=;&A;L8J@;9A:F&L=898G?A9=F5&3@?=&F@?m&:&LA;:8@F&
N@8&[/[&9J:;N=H&9=; &`@NA9E&1P@<:;:& c'a!X7'aaXBH&$=?:RA:&@;9=;<?:?m&J;&9=PQ=FA<=?&
]_

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

;:<AR=&^J@&A;<@;<:?m&9?@:?&J;&:?<@&PJFA9:8&;:9A=;:85&#;&FJF&GQ@?:F&F@?A:FH&8=F&:?>JP@;<=F&
8=F & @D<?:@& N@ & EAF<=?A:F & I & 8@I@;N:F& N@ & `=E@PA:5 & 4J@ & N@ & 8=F & Q?AP@?=F & @; & JF:? & @8 & Q=@P:&
FA;LG;A9=&9=P=&R@EM9J8=&@DQ?@FAR=H&N@F<:9:;N=&@8&9A98=&bQA9=&N@&8=F&F@AF&Q=@P:F&FA;LG;A9=F&
q$A&Q:<?A:rH&FA@;N=&@8&PmF&9=;=9AN=&q#8&$=8N:R:r5&#;&@88=F&?@Q?@F@;<:&@QAF=NA=F&N@&8:&RAN:&
I&8@I@;N:F& N@&`=E@PA:&N@F9?A<=F&:FM&Q=?&@8&Q?=QA= &:J<=?(&J;:&@F9@;: &@FQ8b;NAN:&@; &J;&
9:F<A88=&P@NA@R:8&cYI@E?:NBH&@8&L8JA?&:Q:9AK8@&N@8&?M=&$=8N:R:&cY8<:R:BH&@8&<?AJ;L=&N@& 8:&
:P:h=;: & K=E@PA: & 1:?: & F=K?@ & FJF & @;@PA>:F & cm?:B & I & 8:F & E:h:W:F & PA8A<:?@F & N@ & 8=F&
F@>JAN=?@F&N@&k:;&TJF&c"mK=?BH&A;9=?Q=?:;N=&?A<P=F&N@&Q=8:&I&@8@P@;<=F&L=898G?A9=F5&#;&
FJ&PUFA9:&N@&9mP:?:H&N@F<:9:&@8&9J:?<@<=&N@&9J@?N:&q$A&RAN:rH&9=;&9:?m9<@?&Q?=>?:Pm<A9=&:8&
A8JF<?:? & :FQ@9<=F & N@ & FJ & RAN: & cN@F@=F & I & K=??:9E@?:F & N@ & SJR@;<JNH & FJ & Q?AP@? & :P=?H & FJ&
N@F@FQ@?:;h:&LA;:8&:;<@&@8&:J>J?A=&N@&FJ&F=?N@?:B5
)8978H8 * #M7s[p* c+d+W_+oeW6( & #; & FJ & Q?AP@? & Q@?A=N= & ?@9AK@ & A;L8J@;9A:F & 98mFA9:F & N@&
`@@<E=R@;H&19EJK@?<&I&g:>;@?5&#;&@8&F@>J;N=H&@PQ8@:&8:&PUFA9:&Q=QJ8:?&N@&FJ&`=E@PA:&
;:<:8H & FJQ=;A@;N= & @;<=;9@F & J;: & @FQ@9A@ & N@ & ?=P:;<A9AFP= & @DG<A9=5 & ):F & =K?:F & 9=; & @F<:F&
9:?:9<@?MF<A9:F&F=;&q,U=F&$=?:R=Fr&Q:?:&N=F&R=9@F&I&QA:;=&I&q,:;h:F&#F8:R:FrH&Q:?:&N=F&
QA:;=FH & Q=F<@?A=?P@;<@ & <?:;F9?A<:F & Q:?: & =?^J@F<:5 & C:N: & N:;h: & 9=;FAF<@ & @;& J;: & F@?A@ & N@&
F@99A=;@F & 9=;<?:F<:;<@FH & :9<J:;N= & 8: & Q?AP@?: & 9=P= & ?A<=?;@88=5 & )=F & P=RAPA@;<=F & N@ & FJF&
=K?:F&F@&:SJF<:;&:&Q:<?=;@F&?M<PA9=F&N@&N:;h:F&N@&`=E@PA:&I&8:F&P@8=NM:F&:N^JA@?@;&J;&
9:?m9<@?&9M98A9=H&J;&:A?@&P=N:8&=&KA@;&9A@?<=F&>A?=F&P@8GNA9=F&K:F:N=F&@;&J;:&q@F9:8:&Q=?&
F:8<=FrH & <=N=F & @88=F & ?:F>=F & Q=QJ8:?@F5 & #; & +J@R: & 2=? & 9=PQJF= & q1A;L=;M: & N@8 & +J@R=&
$J;N=rH&<?:NA9A=;:8&@;&FJ&L=?P:&Q@?=&9=;&:A?@F&P=N:8@F&I&Q=QJ8:?@F5&#;&>@;@?:8H&FJ&@F<A8=&
@F & ?@<?=FQ@9<AR=( & <=;:8AN:N@F & 98:?:F & FA; & :KJF:? & N@8 & 9?=P:<AFP=H & ?@>J8:?AN:N & @; & 8:F&
P@8=NM:FH&P=NJ8:9A=;@F&:&<=;=F&@FQ@?:N=F&I&R:?A@N:N&N@&@L@9<=F&=?^J@F<:8@F5
-:7t*R58[u:p*c+dXW_+oUd6(&,ALJ;NA?m&<:PKAb;&8:&<?:NA9AG;&PJFA9:8&9E@9:5&#;&FJ&GQ@?:&
qk@;L:r & F@ & =KF@?R: & FJ & @F<A8=( & L8@DAKA8AN:N & @; & FJ & <=;:8AN:NH & ?A<P= & I & P@8=NM:z & JF= & N@ & 8:&
P@8=NM:&NAF9J?F=z&P=N:8AFP=H&I&?@L8@S=&PJFA9:8&N@&8:F&:99A=;@F&N?:Pm<A9:F&I&QFA9=8G>A9:F5&
":PKAb; & N@F<:9: & FJ & PAF: & @F8:R: & Q:?: & 9=?=H & F=8AF<:FH & G?>:;= & I & =?^J@F<: & <A<J8:N: & q$AF:&
08:>=8M<A9:r5

UTVT*3)!1&1*"j/#$%.1
"7@E:J5( &#NR:?N&0?A@>& c'aXV7'6O_B&?@:8AhG&J;:&APQ=?<:;<@&:9<ARAN:N&9=P=&NA?@9<=?&N@&
=?^J@F<:&I&9=P=&Q?=P=<=?&N@&8:&PUFA9:&@;&+=?J@>:5&1J&@F<A8=&F@&9:?:9<@?Ah:&Q=?&L?:F@F&
?@>J8:?@FH&A;9:Q:9AN:N&Q:?:&8=>?:?&9=;<A;JAN:N&?M<PA9:&I&J;AN:N&L=?P:8&@;&8=F&P=RAPA@;<=F&
@D<@;F=FH&@F<A8=&QA:;MF<A9=&9=;&:N=?;=F&@;&8:&8M;@:&N@&CE=QA;H&A;L8J@;9A:F&N@&9:;9A=;@F&I&
N:;h:F&Q=QJ8:?@F&;=?J@>:F&c>A?=F&P=N:8@F&I&:?PG;A9=FH&K:S=F&N@&K=?NG;&I&9=PKA;:9AG;&N@8&
&I&]{aB5&,@&FJ&Q?=NJ99AG;H&N@F<:9:;&8=F&8A@N@?&H&QA@h:F&K?@R@F&Q:?:&QA:;=H&q$@8=NM:F&I&
N:;h:F&Q=QJ8:?@F&;=?J@>:FrH&qC=;9A@?<=&Q:?:&QA:;=&@;&):&P@;=?r&I&q3@@?&0I;<r5
4=8C58I=5( &k:;&1AK@8AJF &c'a]Z7'6Z_B(&1JF&Q?AP@?:F&=K?:F&F=;&Q=@P:F&FA;LG;A9=FH&9=P=&
q4A;8:;NA:rH&9=PQJ@F<:&Q:?:&J;:&LA@F<:&Q:<?AG<A9:&^J@H&Q?=R=9G&<:8&9=;P=9AG;&Q=8M<A9:&^J@&
FJF&?@Q?@F@;<:9A=;@F&LJ@?=;&Q?=EAKAN:F5&":PKAb;&@F&L:P=F=&Q=?&FJF&q1JA<@F&=?^J@F<:8@Fr&I&
Q=? & FJ & qC=;9A@?<= & Q:?: & RA=8M; & @;& .@ & P@;=?rH & Q@?=& N=;N@ & ?@:8P@;<@ & :Q:?@9@& FJ & F=8AN@h&
<b9;A9:&I&FJ&Q@?L@99AG;&L=?P:8&@F&@;&FJF&FA@<@&FA;L=;M:F5&1JF&?:F>=F&F=;(&:Q:>:N:&@F9?A<J?:&
PJFA9:8H&:9=?N@&9=;&8:&F@R@?AN:N&N@8&Q:AF:S@&I&98AP:&LA;8:;NbFz&P@8=NM:F&9=;&A;L8J@;9A:F&
L=898G?A9:F& c9?=P:<AFP=FH&@F9:8:F&NA:<G;A9:F&I&P=N:8@FH&:?P=;M: &P=N:8 &:PKA>J:H&8:?>:F&
;=<:F&Q@N:8@FB5

]a

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

UTWT*&13)v)

UTWT+T*&C*"5A=785C=>K7*:>L5S7C
1=;&LJ;N:P@;<:8@F&8:F&AN@:F&N@&4?:;9AF9=&%F@;S=&`:?KA@?A&I&4@8AQ@&3@N?@88&Q:?:&@8&
FJ?>APA@;<=&N@8&;:9A=;:8AFP=H&^JA@;@F&<?:<:;&N@&?@9JQ@?:?&8=F&R:8=?@F&N@&;J@F<?=&Q:F:N=&:&
<?:RbF&N@8&@F<JNA=&I&8:&A;FQA?:9AG;&N@&FJF&=K?:F5&3@N?@88&Q8:FP:&@F<:F&AN@:F&@;&FJ&P:;ALA@F<=&
q3=?&;J@F<?:&PUFA9:r5&%PK=F&9=;<?AKJI@;&:&?@F<:J?:?&8:&PUFA9:&Q:<?A:&I&:&N@L@;N@?8:&N@&
A;R:FA=;@F&@D<?:;S@?:F&;=&FG8=&9=;&FJF&9=PQ=FA9A=;@FH&FA;=&9=;&8:&QJK8A9:9AG;&N@&Q:?<@&N@&
;J@F<?=&L=898=?@&PJFA9:8&I&N@&8:F&Q:?<A<J?:F&N@&;J@F<?=F&>?:;N@F&:J<=?@F&N@8&[Y/H&9=P=&@8&
qC:;9A=;@?=&N@&3:8:9A=r5&)=F&@8@P@;<=F&^J@&8=&N@<@?PA;:;&&F=;(
!
!
!
!

): & 9=;9A@;9A: &N@ &8:&?A^J@h: &N@&;J@F<?: &PUFA9: &I&L=898=?@H &^J@&FA?R@&N@&QJ;<= & N@&
Q:?<AN:&Q:?:&@F<:&?@F<:J?:9AG;5
/;L8J@;9A:&N@&8:&PUFA9:&:;N:8Jh:&I&N@&=<?:F&?@>A=;@F5
#DQ8=<:9AG; & N@ & 8:F & Q@9J8A:?AN:N@F & :?PG;A9:FH & ?M<PA9:FH & @F9:8:F & @FQ@9MLA9:F & @&
A;F<?JP@;<=F&<MQA9=F&@FQ:W=8@F5
)=F&PUFA9=F&<?:<:;&N@&F=8J9A=;:?&N=F&Q?=K8@P:F(&:IJN:?&:&8:&9?@:9AG;&N@&J;&;J@R=&
@FQM?A<J&;:9A=;:8&I&Q=N@?&Q?@F@;<:?F@&@;&#J?=Q:&9=;&R=h&Q?=QA:5

$J9E=F & N@ & @F<=F & PUFA9=F & Q:?<A9AQ:; & N@ & 8=F & AN@:8@F & N@ & 8: & 0@;@?:9AG; & N@8 & 6aH&
KJF9:;N=&8:F&@F@;9A:F&N@&;J@F<?=&QJ@K8=5
UTWTUT*1=JC7*Y$Y
#8 & Q?AP@? & Q@?F=;:S@ & ?@8@R:;<@H & 9=P= & 9=PQ=FA<=? & I & RA=8A;AF<:H & @F &3:K8= & 1:?:F:<@&
c'aXX7'6OaB & 9=; & =K?:F & 9=P= & q,:;h:F & #FQ:W=8:Fr & I & q%A?@F & >A<:;=FrH & A;FQA?:N:F & @; & @8&
L=898=?@&@FQ:W=85&.@Q?@F@;<:&8:&Q?@F@;9A:&@;&#FQ:W:&N@8&RA?<J=FAFP=&RA=8A;MF<A9=H&SJ;<=&9=;&
@8&F:;<:;N@?A;=&k@FUF&N@&$=;:F<@?A=5&
"?:F& b8H&8:&FA>JA@;<@&Q@?F=;:8AN:N&@F &/F::9&%8Kb;Ah& c'a]O7'6O6B5&1J&QA:;= &?@9=>@&
<@;N@;9A:F & ^J@ & R:; & N@FN@ & @8 & .=P:;<A9AFP= & PmF & 98mFA9= & E:F<: & @8 & /PQ?@FA=;AFP=&
N@KJFFA:;=5 & C=PQ=;@ & q1JA<@ & #FQ:W=8:r & I & qC:;<=F & N@ & #FQ:W:r & Q:?: & 88@>:? & : & 8: & q1JA<@&
/K@?A:rH&N=;N@&@8&L=898=?@&F@&@8@R:&:&;AR@8@F&PJI&9?@:<AR=F5&#8&=<?=&9?@:N=?&N@8&+:9A=;:8AFP=&
@FQ:W=8&:;<@F&N@&88@>:?&:&4:88:&@F &#;?A^J@&0?:;:N=F& c'a]_7'6']BH&^J@&F@&@DQ?@F:&9=;&@8&
QA:;= & @; & FJF & q,:;h:F & #FQ:W=8:Fr & I & q0=I@F9:Fr5 & $JI & ?@8:9A=;:N= & 9=; & @8 & PJ;N= & N@ & 8:&
<=;:NA88: & I & 88@;: & N@ & :?:K@F9=FH & : & R@9@F & ?@9J@?N: & @8 & 8@;>J:S@ & N@ & 19:?8:<<AH & I & @; & =<?:F & :&
,@KJFFI&I&19EJP:;;5&":PKAb;&N@F<:9:;&FJF&<=;:NA88:F&Q:?:&QA:;=&I&9:;<=5&
UTWTWT&C*1=JC7*YY
%FAF<AP=F&:&J;&98:?=&?@;:9APA@;<=&N@&8:&PUFA9:&@;&#FQ:W:&Q=?&@F<=F&P=<AR=F(
! )=F&@FLJ@?h=F&Q=?&9:PKA:?&8:&PUFA9:&N@&`:?KA@?AH&3@N?@88H&CE:QMH&@<9H&^J@&L?J9<ALA9:;&
@;&@8&FA>8=&[[
! C?@:9AG; & N@ & F=9A@N:N@F & LA8:?PG;A9:F & ^J@ & 9:PKA:; & @8 & Q:;=?:P: & N@ & 8: & PUFA9:&
FA;LG;A9:&I&N@&9mP:?:
! C?@:9AG;&N@H&:8&P@;=FH&<?@F&APQ=?<:;<@F&=?^J@F<:F(&8:&*?^J@F<:&1A;LG;A9:&N@&$:N?ANH&
): & *?^J@F<: & 4A8:?PG;A9: & N@ & $:N?AN & I & ): & *?^J@F<: & 1A;LG;A9: & N@ & `:?9@8=;:H & ^J@&
@F<?@;:;&?@Q@?<=?A=&@FQ:W=8&I&Q?@F@;<:;&@8&@J?=Q@=5
! .@;:9APA@;<=&N@&8:&PUFA9:&9=?:8&I&N@&8:&$JFA9=8=>M:
! C?@:9AG; & N@ & 8: & 1=9A@N:N & +:9A=;:8 & N@ & 8: & $UFA9: & c'6'ZBH & N=;N@ & F@ & Q?@F@;<:; & 8:F&
;=R@N:N@F&N@&8:&PUFA9:&@J?=Q@:
! ):F&>?:;N@F&LA>J?:F&;:9AN:F&@;&@8&FA>8=&[/[&c%8Kb;AhH&0?:;:N=F&I&4:88:B&N:;&:E=?:&
FJF&P@S=?@F&L?J<=F&I&;=PK?@&A;<@?;:9A=;:8&:&8:&PUFA9:&@FQ:W=8:&
]6

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

56*0:8:@5A=?8*I:C*odB*I:*C7>*K5:>9@7>
1@&8@F&N@;=PA;:&:FM&Q=?&@8&P:>;MLA9=&P:>AF<@?A=&^J@&@S@?9A@?=;&F=K?@&8:F&FA>JA@;<@F&
>@;@?:9A=;@F & I & Q=? & FJ & P:>;MLA9: & 9?@:9AG; & PJFA9:85 & 1@ & ?@8:9A=;:; & 9=; & @8 & AN@:?A= & N@ & 8:&
0@;@?:9AG; & N@8 & 6a5 & ,@F<:9:P=F & : & $:;J@8 & N@ & 4:88:H & k=:^JM; & "J?A;:H & 3:J & C:F:8FH & k@FUF&
0J?ANA&I&\F9:?&#FQ8m5&
$:;J@8&N@&4:88:&c'a_]7'6X]B(&LA>J?:&9JPK?@&N@8&>?JQ=H&9=;&b8&;J@F<?:&PUFA9:&9=PA@;h:&:&
<@;@? & J; & 8J>:? & Q?ARA8@>A:N= & PJ;NA:8P@;<@5 & 3:F: & Q=? & <=N:F & 8:F & L:F@F & c+:9A=;:8AFP=H&
/PQ?@FA=;AFP=H&+@=98:FA9AFP=B&I&?@U;@&9J:8AN:N@F&<:8@F&9=P=&@8&@FQM?A<J&A;NARANJ:8AF<:H&
KUF^J@N: & : & <?:RbF & N@8 & L=898=?@ & N@8 & Q:AF:S@ & @FQ:W=8H & A;<@;<= & N@ & @J?=Q@Ah:9AG; & I & @8 & RARA?&
M;<AP:P@;<@&8=F&Q?=K8@P:F&Q=8M<A9=F&I&F=9A:8@F&^J@&8@&J;@;&:&8:&0@;@?:9AG;&N@8&6a5&):F&
@<:Q:F&N@&FJ&=K?:&F=;(
'5 C=PA@;h:&9=;&q):&RAN:&K?@R@rH&K:F:N:&@;&@8@P@;<=F&L=898G?A9=F5&":PKAb;&A;98JI@&
qCJ:<?=&QA@h:F&@FQ:W=8:Fr&I&qC:;9A=;@F&@FQ:W=8:Fr5
!5 %^JMH&8:&@F@;9A:&N@8&L=898=?@&:;N:8Jh&APQ?@>;:&FJ&Q@;F:PA@;<=&PJFA9:85&/;98JI@&@;&
q#8 & :P=? & K?JS=r & 8: & %;N:8J9M: & <?m>A9:z & @; & q+=9E@F & N@ & 8=F & S:?NA;@F& N@ & #FQ:W:r & 8:&
%;N:8J9M:&9:PQ@FA;: &I&@;&q#8&F=PK?@?= &N@&<?@F&QA9=Fr&8: &%;N:8J9M:&;=F<m8>A9: &I&
Q=b<A9:5
V5 q#8&?@<:K8=&N@&$:@F@&3@N?=rH&qC=;9A@?<=&N@&98:R@r5&"?:<:&<@P:F&N@&8:&RA@S:&PUFA9:&
9:F<@88:;:H & KJF9: & @F@ & :F9@<AFP= & <MQA9= & N@ & 8:F & @F@;9A:F & 9:F<@88:;:F & I & ^J@ & <:;<=&
@;<JFA:FP:&:&8:&0@;@?:9AG;&N@8&6a5&1J&U8<AP:&=K?:H&@;&%?>@;<A;:H&q):&%<8m;<AN:rH&
P@h98:&8:&GQ@?:&I&@8&=?:<=?A=5&
k=:^JM; & "J?A;:& c'aa!7'6X6B( & F@ & A;FQA?: & @; & %;N:8J9M: & 9=; & =K?:F & 9=P= & q,:;h:F&
4:;<mF<A9:FrH&q3?=9@FAG;&N@8&.=9M=rH&q):&=?:9AG;&N@8&<=?@?=r&I&q1A;L=;M:&1@RA88:;:r5&
F6*0:8:@5A=?8*I:C*Ug
)=F&?:F>=F&^J@&8:&N@LA;@;&F=;(&
! /;<?=NJ9@; & 8:F & R:;>J:?NA:F & @J?=Q@:F & c/PQ?@FA=;AFP=H & +@=98:FA9AFP=H&
,=N@9:L=;AFP=B
! +=F&A;9=?Q=?:;&@;&8:&EAF<=?A:&N@&8:&PUFA9:&@J?=Q@:
! %9<ARAFP=&PJFA9:8&FAPK=8Ah:N=&@;&8:&9?M<A9:&PJFA9:8H&9=;<A;J=F&@F<?@;=FH&9?@:9AG;&N@&
=?^J@F<:FH&@<95
! .@8:9AG;&N@&8=F&PUFA9=F&9=;&=<?=F&A;<@8@9<J:8@F&c)=?9:H&%8K@?<ABH&RA@;N=&8:&PUFA9:&
9=P=&J;&@S@?9A9A=&N@&A;<@8A>@;9A:5
! )=F&:J<=?@F&PmF&?@8@R:;<@F&F=;(
! #8 & 0?JQ= & N@ & $:N?AN( & #?;@F<= & I & .=N=8L= & T:8LL<@?H & 1:8R:N=? & `:9:?AFF@H&
4@?;:;N=&.@P:9E:&I&.=F:&%F9=<
! #8&0?JQ=&N@&`:?9@8=;:(&4@N@?A9=&$=PQ=JH&.=K@?<=&0@?E:?NH&#NJ:?N=&"=8N?m
! .@F<= & N@ & #FQ:W:( & k=:^JM; & .=N?A>= & cqC=;9A@?<= & N@ & %?:;SJ@hrBH & .:L:@8&
.=N?M>J@h&%8K@?<H&@<95&
A6*0:8:@5A=?8*I:C*X+
"?:F&8:&0J@??:&CARA8H&F@&N:&J;&9=?<@&K?JF9=&@;&<=N:F&8:F&:?<@F5&%&LA;:8@F&N@&8=F&XO&F@&
A;<@;<:&9:PKA:?&8:&FA<J:9AG;&@;&$:N?AN&I&`:?9@8=;:5&#F<:&>@;@?:9AG;&FJ?>@&9=P=&?@FQJ@F<:&
:8&?@;=R:?F@&=&P=?A?z&F@&Q?@F@;<:&@;&8=F&ZO&9=P=&J;&A;<@;<=&N@&?@9JQ@?:?&@8&<A@PQ=&Q@?NAN=&
Q:?: & :9=P=N:?;=F & @; & #J?=Q:H & N:? & : & ;J@F<?: & PUFA9: & @8 & F@;<AN= & N@ & 9:PKA= & ;@9@F:?A= & =&
A;R@;<:? & J; & ;J@R= & PJ;N= & N@ & L=?P:F5 & )=F & 9=PQ=FA<=?@F & ^J@ & Q:?<A9AQ:; & F=; & C:?P@8=&
`@?;:=8:H&)JAF&N@&3:K8=H&C?AF<GK:8&T:8LL<@?H&%;<G;&0:?9M:&%K?A8H&@<95&):F&R:;>J:?NA:F&^J@&
@F<=F & :J<=?@F & 9J8<AR:; & F=; & @8 & F@?A:8AFP=H & 8:F & 9=??A@;<@F & =KS@<J:8AF<:FH & 8:F & 9=??A@;<@F&
_O

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

:8@:<=?A:FH&@8&P=RAPA@;<=&h:SH&8:&9=??A@;<@&@8@9<?G;A9:H&@<95&
I6*-7>*=89:@J:8:@5A=785C:>*D*C5*0:8:@5A=?8*I:C*f+
%Q?=R@9E:;&@8&98AP:&N@&?@F<:J?:9AG;&9?@:N=&Q=?&8:&0@;@?:9AG;&N@8&Z'5&#F<m&L=?P:N:&
Q=? & :J<=?@F & :U; & @; & :9<AR=( & "=PmF & $:?9=H & 4?:;9AF9= & 0J@??@?=H & k=Fb & )JAF & "J?A;:5&
C=;<?AKJI@;&<:PKAb;&:&8:&8:K=?&PJFA9=8G>A9:&I&:&8:&A;R@F<A>:9AG;5&%8>J;=F&N@&@F<=F&:J<=?@F&
<?:K:S:;&<:PKAb;&9=;&8:F&PUFA9:F&:8<@?;:<AR:F5&

UTX*$"0-)'&//)*2*&1')#.1*O"$#.1
"?:F&9:@?&@;=?P@P@;<@&J;:&R@h&^J@&LA;:8Ah:&@8&`:??=9=H&/;>8:<@??:&?@FJ?>@&9=;&8:&
Q?=NJ99AG;&PJFA9:8&N@&N=F&>?:;N@F&:J<=?@F(&#Nl:?N&#8>:?&I&4?bN@?A9&,@8AJF5&):&PUFA9:&
;:9A=;:8AF<: & ;=?<@:P@?A9:;: & <=P: & J; & 9:?m9<@? & @FQ@9A:8 & Q=? & @8 & ;:9APA@;<= & N@ & J; & ;J@R=&
@F<A8=&N@&PUFA9:(&@8&S:hh5&,@F<:9:&0@=?>@&0@?FElA;&9=;&q3=?>I&:;N&`@FFrH&q.E:QF=NI&A;&
K8J@r&I&q%;&:P@?A9:;&A;&3:?AFr5&

UTfTZO"0/!)
):F&Q@9J8A:?AN:N@F&N@&@F<:&;:9AG;&N=;N@&F@&SJ;<:;&?:h:F&PJI&NAL@?@;<@F&cEU;>:?:H&
>A<:;=FH & <J?9=FB & E:; & N@S:N= & J;: & NAR@?F: & L=?P: & N@& L=898=?@H & 9:?:9<@?Ah:N= & Q=? & @8 & b;L:FAF&
?M<PA9=H&?@F:8<:N=&Q=?&8:&Q@?9JFAG;&I&Q=?&8:&A;@F<:KA8AN:N&<=;:85&,@F<:9:;&j=8<m;&i=Nm8I&I&
`b8:&`:?<G5
+= & E:I & =<?= & 9=PQ=FA<=? & ^J@ & @S@PQ8ALA^J@ & 9=; & <:;<: & Q@?L@99AG; & 9=P= &^5@9?p& 8:&
A;<@>?:9AG; & N@& 8=F &@F<A8=F & L=88G?A9= &I &:?<MF<A9= &@; &@8 &FA>8= &[[5 &): &APQ=?<:;9A: &N@ &^iC5*
^5@9?p& @F & <?AQ8@5 & #; & Q?AP@? & 8J>:?H & QJK8A9G & 9@?9: & N@ & N=F & PA8 & P@8=NM:F & Q=QJ8:?@F & N@&
TJ;>?M:H&.JP:;M:&I&2J>=F8:RA:H&N@&"J?^JM:&I&@8&;=?<@&N@&sL?A9:5
#F9?AKAG & 9A;9= & 8AK?=F & @ & A;;JP@?:K8@F & :?<M9J8=F & F=K?@ & PUFA9: & L=88G?A9:H & ?@:8AhG&
R@?FA=;@F&N@&P@8=NM:F&Q=QJ8:?@F&=&9=PQJF=&QA@h:F&K:F:N:F&@;&@88:F&I&N@F:??=88G&J;&@F<A8=&
@; & @8 & 9J:8 & LJFA=;G & @8@P@;<=F & L=88G?A9=F & 9=; & <b9;A9:F & N@F:??=88:NMFAP:F & N@ & 8: & PUFA9:&
:?<MF<A9:H&N@&J;:&P:;@?:&PmF&M;<AP:&N@&9J:;<=&S:PmF&F@&E:KM:&E@9E=&:;<@F5&#;&F@>J;N=&
8J>:?H&LJ@&J;&RA?<J=F=&N@8&QA:;=&I&P:@F<?=&N@&@F<@&A;F<?JP@;<=&@;&8:&%9:N@PA:&N@&PUFA9:&
N@&`JN:Q@F<5&":PKAb;&@F&J;=&N@&8=F&9J:<?=&=&9A;9=&PUFA9=F&N@&8:&Q?AP@?:&PA<:N&N@8&FA>8=&
[[&9JI:&PUFA9:&FA>J@&RA>@;<@5&,@F<:9:&@;&<=N=F&8=F&>b;@?=F5&1JF &8.%!,",31& F=;&8:&PmF&
APQ=?<:;<@ & :Q=?<:9AG; & N@ & >?:;N@F & NAP@;FA=;@F & :8 & ?@Q@?<=?A= & N@ & @F<@ & P@NA= & N@FN@&
`@@<E=R@;5 &D*`!3`31/31& Q:?: & QA:;= & @F & J;: & =K?: & N@ & @;=?P@ & R:8=? & Q@N:>G>A9= & I & J;:&
PJ@F<?:&N@8&Q?=QA=&@F<A8=&N@&`:?<G5 &6$&/%()%!J(&/%!%<*$$313H&8: &DL1*+%&5%!%&+."!)%O &
5"!+.1*I(&E&+"$"1,%H&8:&43(%,%&5%!%&)31&5*%(31&E&5"!+.1*I(&I&@8&83(+*"!,3&5%!%&3!0."1,%&
F=;&<:PKAb;&=K?:F&N@F<:9:N:F&N@&@F<@&9=PQ=FA<=?5
): & PUFA9: & N@ &m7C9[8& n7I[CDH & PmF & ;:9A=;:8AF<:H & @F & P@;=F & 9=PQ8@<: & ^J@ & 8: & N@&
`:?<GH&:J;^J@&FJ&FA;>FQA@8&FS!E&XS(31&I&FJ&T1%$/.1&F.(#%!*+.1H&Q:?:&<@;=?&F=8AF<:H&9=?=&
I&=?^J@F<:&F=;&=K?:F&PJI&@F<AP:K8@F5&+=&=KF<:;<@H&FJ&P:I=?&Pb?A<=&?@FAN@&@;&FJ&8:K=?&
9=P=&Q@N:>=>=&PJFA9:85

UTgT*$^&/.)(w/$%)
#;&@F<=F&Q:MF@F&@8&;:9A=;:8AFP=&PJFA9:8&FJQ=;@&@8&;:9APA@;<=&N@&8:&9?@:9AG;&@;&@F<@&
:?<@5&#;&$bDA9=&N@F<:9:&$:;J@8&3=;9@H&9=;&J;&;:9A=;:8AFP=&PJI&?=Pm;<A9=5&#;&`?:FA8&
N@F<:9:&T@A<=?&YA88:7)=K=FH&9=;&FJF&q`:9EA:;:F&`?:FA8@A?:Fr&I&:KJ;N:;<@F&=K?:F&Q:?:&QA:;=5&

_'

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5 * +UT_ * -5 * `5@`E:C5, * .@HJ:8:>B * :M7CEA=?8B * :C:K:897>B*

:95L5>*D*A7KL7>=97@:>T
'57&*?M>@;@F(&1A>8=&[Y//
!57&1A>8=&[Y///
V57&1A>8=&[/[(&):&?@F<:J?:9AG;&N@&8:&h:?hJ@8:&@;&#FQ:W:5&):&h:?hJ@8:&?=Pm;<A9:5&
:B&):&?@F<:J?:9AG;&N@&8:&j:?hJ@8:5
KB&j:?hJ@8:&0?:;N@&I&j:?hJ@8:&CEA9:&c'aZ'&:&'aaOB5
K5'57&j:?hJ@8:&0?:;N@5
K5!57&j:?hJ@8:&CEA9:5
9B&#8&>b;@?=&9EA9=&c'aaO7'6'OB5
X57&&):&h:?hJ@8:&@;&@8&FA>8=&[[5&,@9:N@;9A:&I&?@F<:J?:9AG;5

!"#$3-D,.).2Q$E/,&+$^_<<
#; & #FQ:W:H & 8: & 9?@:9AG; & N@ & <@:<?= & PJFA9:8 & 9=PA@;h: & @; & @8 & FA>8= & [Y//5 & +J@F<?:F & N=F&
>?:;N@F & L=?P:F & <@:<?:8@FH & 8: & C=P@NA: & I & 8: & j:?hJ@8:H & <@;M:; & Q:?<@F & E:K8:N:F & I & Q:?<@F&
9:;<:N:F5&3=?&@88=H&8:&9J8<J?:&PJFA9:8&@FQ:W=8:&N@8&FA>8=&[Y//&Q?=NJS=&8@;>J:S@F&I&L=?P:F&
PJFA9:8@F&PJI&@FQ@9MLA9:F5
#8&;=PK?@&N@&qh:?hJ@8:r&Q?=RA@;@&N@8&3:8:9A=&N@&8:&j:?hJ@8:&c:&FJ&R@h&88:P:N=&:FMH&Q=?^J@&
@;&b8&:KJ;N:K:;&8:F&h:?h:FBH&N=;N@&F@&?@Q?@F@;<:?=;&8:F&Q?AP@?:F&=K?:F&9=;&@F<@&<M<J8=5
): & Q=N@P=F&N@LA;A?& :FM( &0b;@?= & <@:<?:8 &@FQ:W=8H& N@&9:?m9<@?&9GPA9=H &@;& J;= & =& R:?A=F&
:9<=FH&@;&@8&^J@&:8<@?;:;&8:F&@F9@;:F&E:K8:N:F&I&9:;<:N:FH&Q=?&8=&<:;<=H&@F&N@8&PAFP=&<AQ=&
^J@&8:&GQ@?:&9GPA9:&L?:;9@F:&=&@8&FA;>FQA@8&:8@Pm;5
#8& >b;@?=& 9=PA@;h: &9=;&8:F&=K?:F&@F9?A<:F&Q=?* %5CI:@?8 * I:* C5 *^5@A5& :8?@N@N=? & N@&
']ZaH&Q:?:&F@?&?@Q?@F@;<:N:F&@;&@8&Q@^J@W=&<@:<?=&N@8&3:8:9A=&.@:8&N@&8:&j:?hJ@8:5
)=F&@8@P@;<=F&^J@&N@LA;@;&8:F&h:?hJ@8:F&N@8&FA>8=&[Y//&F=;(
! #8&NAm8=>=&@?:&E:K8:N=&I&;=&9:;<:N=H&?:?:P@;<@&9:;<:N=&@;&?@9A<:<AR=5
! #?:&J;&>b;@?=&Q:?:&J; &QUK8A9=& 9=?<@F:;=H&;=&Q:?:&@8&QJ@K8=H&^J@&:FAF<M:&:&8=F&
9=??:8@F&N@&9=P@NA:F5
! 1J &<@Pm<A9:& @?:&:P=?=F:H&AN@:8Ah:N:&I&Q:F<=?A8z&FJF&Q?=<:>=;AF<:F&F=;&NA=F@F&I&
NA=F:F&N@&8:&PA<=8=>M:&98mFA9:&Q@?=H&:&Q@F:?&N@&@88=H&Q@?F=;:S@F&N@&9:?;@&I&EJ@F=&
^J@&F@&@;:P=?:;H&=NA:;&I&FJL?@;z&<:PKAb;&Q:?<A9AQ:;&RA88:;=FH&S:?NA;@?=FH&@<95
! /;9=?Q=?:&8:F&9:?:9<@?MF<A9:F&N@&8:&<?:NA9AG;&N?:Pm<A9:&@FQ:W=8:&N@8&FA>8=&[Y//H&@F&
N@9A?H & 8: & Q?@F@;9A: & N@ & 8= & <?:>A9GPA9=H & @8@P@;<=F & Q=QJ8:?@F & 9=P= & 9:;9A=;@FH&
K:A8@FH&N:;h:FH&@<95&
! 1@&@PQ8@:;&9=?=F&:&9J:<?=&R=9@FH&NU=FH&<=;=F&I&<=;:N:F&:&R=h&F=8:H&8:&P:I=?M:&@;&
L=?P:&@F<?GLA9:H&=&9=PQJ@F<=F&Q=?&9=Q8:F&I&@F<?AKA88=5&
! %Q:?@9@;&<:PKAb;&:?A:F&c88:P:N:F&c-.(2BH&I&:Q@;:F&F@&JF:&@8&?@9A<:<AR=5&
! 1=; & ?@Q?@F@;<:N:F & Q=? & 8:F & 9=PQ:WM:F & N@ & $:N?AN & I & 8=F & A;F<?JP@;<AF<:F & N@ & 8:&
9=?<@5
! )=F&Q:Q@8@F&F=8AF<:F&8=F&A;<@?Q?@<:;&:9<?A9@F79:;<:;<@F&N@&8:F&9=PQ:WM:F&9GPA9:FH&
I&PUFA9=F&N@&>JA<:??:&I&:?Q:5
):F&h:?hJ@8:F&Q?=;<=&F@&EA9A@?=;&9=PJ;@F&@;&<=N:F&8:F&LA@F<:F&?@:8@FH&F=K?@&<=N=&:&LA;:8@F&
_!

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

N@8&[Y//5&)=F&:J<=?@F&N@&8:&PUFA9:&LJ@?=;H&@;&FJ&P:I=?M:H&PUFA9=F&:F@;<:N=F&@;&8:&9=?<@(&
RE58 *Z=I5CJ7 *c6$&$%.!"$&)"&>53$3YH &1:F5>9=[8* #E@?8 *f4%$*!&"$&%/3!&)"$&/.()3Y& I&
)8978=7*-=9:@:>*f>+*1&E&M%$%,"%Y5&):&h:?hJ@8:&9=;F@?RG&FJ&9:?m9<@?&N@&LA@F<:&?@:8&NJ?:;<@&
8:&bQ=9:&N@&8=F&%JF<?A:FH&E:F<:&@;<?:N=&@8&FA>8=&[Y///5

7"#$E/,&+$^_<<<
#; & @8 & FA>8= & [Y/// & F@ & Q?=NJ9@; & :8>J;=F & 9:PKA=FH & Q=?^J@ & 8: & h:?hJ@8: & N@S: & N@ & F@? & J;&
@FQ@9<m9J8=&Q:?:&8:&9=?<@&I&F@&@D<A@;N@&:8&QUK8A9=&N@&8=F&9=??:8@F&I&:&8=F&<@:<?=F&PJ;A9AQ:8@F&
N@& $:N?ANH& @FQ@9A:8P@;<@&: &8=F&N@ &A% &8!.PH &N@ &A31 &8%\31&)"$&T"!%$& I&@8&N@8 &T!J(+*5"H&
9=P@;h:;N=&:&F@?H&:&Q:?<A?&N@&@;<=;9@FH&J;&>b;@?=&Q=QJ8:?5&
wJAhm&@8&PUFA9=&^J@&P@S=?&FAPK=8Ah: &@8&9:PKA=&@;&8:&Q?AP@?:&PA<:N&N@8&FA>8=&[Y///& @F&
R7>i * I:* ":F@5& c'_O!7'_]aB5 & C=;=9@& @; &$:N?AN&@8 &@F<A8= & @FQ:W=8 & I& @8& A<:8A:;=H & FA@;N=&
:IJN:N=&I&PJI&R:8=?:N=&Q=?&4:?A;@88AH&I:&FA<J:N=&@;&#FQ:W:H&I&F@&N@NA9:H&NJ?:;<@&<?@A;<:&
:W=FH&:&Q?=NJ9A?&Q:?:&8=F&<?:NA9A=;:8@F&9=??:8@F&N@&9=P@NA:F5&
#8&F@>J;N=&9:PKA=&F@&N:&@;&8:&F@>J;N:&PA<:N&N@8&FA>8=&[Y///&9=;&8:&88@>:N:&N@8&8AK?@<AF<:&
/5K?8*I:*C5*%@E`H&^J@&A;<?=NJ9@&@8@P@;<=F&Q=QJ8:?@FH &9J:N?=F&N@&9=F<JPK?@F&I&J;&
98:?=&?@:8AFP=&@;&9=8:K=?:9AG;&9=;&@8&PUFA9=&)8978=7*/7I@HJE:`*I:*Z=95&c'_!X7'a_aB5&
):&Q=QJ8:?Ah:9AG;&N@&8:&h:?hJ@8:&88@R:&:&8:&9?@:9AG;&N@&J;&;J@R=&>b;@?=H &8:&<=;:NA88:&
@F9b;A9:H&^J@&F@&?@Q?@F@;<:K:&@;&8=F&A;<@?P@NA=F&N@&h:?hJ@8:F&J&GQ@?:F&N@&P:I=?&9:8:N=5&
#PQ@h:?m;&:&?@Q?@F@;<:?F@&N@&L=?P:&A;N@Q@;NA@;<@&:&Q:?<A?&N@&8:&!t&PA<:N&N@8&F5&[Y///5

F"# $ E/,&+ $ ^<^Q $ 0( $ -.2*(=-('/>) $ 5. $ &( $ b(-b=.&( $ .) $ %2;(X(" $ 0( $

b(-b=.&($-+1c)*/'("$
56*-5*@:>95E@5A=?8*I:*C5*m5@`E:C5T
):&>?:;&bQ=9:&N@&8:&h:?hJ@8:&@FQ:W=8:&9=A;9ANA?m&9=;&8:&?@F<:J?:9AG;&N@8&>b;@?=&:&Q:?<A?&
N@& 'aX6z & @F & N@9A?H &9=;& @8& .=P:;<A9AFP=5& C=;& @8& ?@F<:K8@9APA@;<= &N@&8: & P=;:?^JM: & I& 8:&
:Q@?<J?:&N@8&;J@R=&C=;F@?R:<=?A=&N@&$:?M:&C?AF<A;:H&F@&Q=;@;&8:F&K:F@F&Q:?:&9=PQ@<A?&9=;&
8=F & A<:8A:;=F & @; & @8 & 9:PQ= & N@ & 8: & GQ@?:z & @; & 9=;F@9J@;9A:H & ;J@F<?=F & PUFA9=F & KJF9:; & 8:&
:8<@?;:<AR:&@;&@8&RA@S=&>b;@?=&N@&8:&h:?hJ@8:H&@;<=;9@F&@;&N@9:N@;9A:5
#8 & bDA<= & N@ & @F<:F & =K?:F & 9=;9A@;9AG & : & J;: & F@?A@ & N@ & 9=PQ=FA<=?@F & I & 8AK?@<AF<:FH&
9:QA<:;@:N=F&Q=?&^5@F=:@=H&N@&8:&;@9@FAN:N&N@&@F<:&?@F<:J?:9AG;5&1=;&8=F&^J@&N:;&RAN:&:8&
>b;@?= & @; & @F=F & VO & :W=F & ^J@ & R:; & N@FN@ & 'aZO & : & 'aaOH & @; & ^J@ & 88@>: & @8 & 0b;@?= & CEA9=(&
^5@F=:@=B&05`95KF=I:*I&)@@=:955
#88=F & A;<@;<:; & 9?@:? & J; & ;J@R= & <@:<?= & ;:9A=;:8 & I & J;: & qPUFA9: & ;:9A=;:8rH & I & 88@>:; & :8&
>b;@?=&N@&`5@`E:C5&9=P=&@8&:N@9J:N=&F=K?@&<=N=&N@FQJbF&N@8&@;=?P@&bDA<=&@;&'aZ'&N@&8:&
=K?:&X.#%!&+3(&;."#3H&N@&^5@F=:@=H&^J@&N@<@?PA;:&@8&P=N@8=&N@&8:&;J@R:&h:?hJ@8:5&
#F<=F&PUFA9=F&LJ;N:;&8:&1=9A@N:N&N@&%?<AF<:F5&

_V

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

F6*m5@`E:C5*0@58I:*D*m5@`E:C5*%<=A5*c+dX+*5*+dde6T
K"!"#$h(-b=.&($R-()5."

): & h:?hJ@8: & @F<m & ?@:8Ah:N: & 9=; & 8=F & PAFP=F & P@NA=F & N@8 & <@:<?= & N@9AP=;G;A9= & @J?=Q@=(&
Q:?<@F&Q:?:&F=8AF<:FH&9=?=F&@&A;F<?JP@;<=F5
):F&9:?:9<@?MF<A9:F&N@&8:&h:?hJ@8:&>?:;N@H&FA>JA@;N=&@8&P=N@8=&N@ &X.#%!&+3(&;."#3H&N@&
^5@F=:@=H&F=;(
! 1.-$1')1(&:?A:&cN@&A;L8J@;9A:&A<:8A:;:H&;=&@F&PJI&J<A8Ah:N:BH&?=P:;h:H&9=Q8:FH&
NU=FH&<@?9@<=F&I&9=;9@?<:;<@F5&
+T ): &@7K58`5& <A@;@ & @8 & PAFP= & F@;<AN= & N@8 &!3/%(+"& L?:;9bFH & @F & N@9A?H&
9:?m9<@?&8M?A9=&I&J;AN=&:&<@D<=F&:P=?=F=F&=&EAF<G?A9=F5&#;&>@;@?:8H&@F&PmF&
F@;9A88:H&L?@9J@;<@P@;<@&<A@;@&9:?m9<@?&@F<?GLA9=&I&@F&PJI&@PQ8@:N:5
UT ): &A7LC5& @F& PmF& 8A>@?:H &>?:9A=F:H & F@;9A88: &I &Q=QJ8:?5 &,@ &:^JM& FJ?>A?m & @8&
LJ<J?=&9JQ8b5
VT )=F &A78NE897>& = & 9=;9@?<:;<@F & 9=;F<A<JI@; & @8 & F@>J;N= & @8@P@;<= & N@ & 8:&
h:?hJ@8:&N@9AP=;G;A9:H&I&F@&JF:;&:8&P@;=F&@;&N=F&=&<?@F&;UP@?=F&N@&9:N:&
:9<=5
! #8 &%./.& 9=;F<A<JI@&J;:&N@&8:F&FJF<:;9A:F&I&FJ&@PQ8@=&J;=&N@&8=F&P=<AR=F&N@8&
bDA<=&Q=QJ8:?&N@&8:F&=K?:FH&N:N=&^J@&:&<?:RbF&N@&b8&F@&Q?@F@;<:&8=&PmF&RAF<=F=&I&
@;<@;NAK8@&Q=?&@8&QJ@K8=5&
! 3)/'&1*$"1'/O(&"')-&1(&Q?@8JNA=F&N@&9:N:&:9<=&N@&LJ@?<@&9=8=?&EAFQ:;=&
@&A;<@?P@NA=F5
! "?@F&:9<=Fz&P@;=F&L?@9J@;<@&N=FH&I&@D9@Q9A=;:8P@;<@&9J:<?=5
! Y:;&Q?@9@NAN:F&N@&J;&Q?@8JNA=&^J@&Q?@Q:?:&@8&:PKA@;<@&I&Q@?PA<@&8:&:Q@?<J?:&N@8&
<@8G;5
! #F<@&Q?@8JNA=&R:&F@>JAN=&N@&8:&@;<?:N:&N@&J;&>?:;&9=?=H&>@;@?:8P@;<@&N@&LJ@?<@&
9=8=?&EAFQ:;=H&9=;&@8&^J@&9=PA@;h:;&9:FA&<=N=F&8=F&:9<=F5
! )=F&<?@F&:9<=F&@F<m;&9=PQJ@F<=F&Q=?&^JA;9@&=&NA@9AFbAF&;UP@?=F&N@&PUFA9:H&9A;9=&=&
F@AF&Q=?&:9<=5
! #F<=F & ;UP@?=F & F=; & Q=8AF@99A=;:8@FH & @F & N@9A?H & 9=; & 9J:<?=H & 9A;9= & I & E:F<: & F@AF&
F@99A=;@F&9:N:&;UP@?=5&C:N:&F@99AG;&APQ8A9:&9:PKA=F&N@&<A@PQ=&I&?A<P=H&I&:&R@9@F&
N@&<=;:8AN:N5
! #DAF<@&J;&Q?@N=PA;A=&N@8&<@D<= &9:;<:N= &F=K?@&@8&E:K8:N=H &I&F=;&L?@9J@;<@F & 8=F&
<@P:F&N@&9:?m9<@?&EAF<G?A9=&@FQ:W=85
*<?:F&=K?:F&^J@&N@F<:9:;&N@;<?=&N@&@F<@&>b;@?=&F=; &6$&H.!%/"(,3 &N@ &05`95KF=I:& I&
D%!*(%&N@&)@@=:955
K"7"#$h(-b=.&($?A/'("

#8 & F@>J;N= & P=N@8= & 8= & 9=;F<A<JI@; & 8:F & =K?:F & @; & J; & :9<= & c= & @D9@Q9A=;:8P@;<@ & N=FBH&
?@:8Ah:N:F&9=;&J;=F&P@NA=F&I&J;:&@F<?J9<J?:&PJFA9:8&PJ9E=&PmF&Q=K?@&I&^J@&F@?m&8:&^J@&
FA>:&@8&LJ<J?=&0b;@?=&CEA9=5&1JF&@8@P@;<=F&8=F&Q=N?M:P=F&LAS:?&:FM(
! f;&F=8=&:9<=&9=PQJ@F<=&Q=?&9J:<?=H&9A;9=&=&F@AF&;UP@?=F&N@&PUFA9:5
! 1@ & A;A9A: & 9=; & J;: & A;<?=NJ99AG; & =?^J@F<:8 & :9=PQ:W:N: & N@ & J; & ;UP@?= & 9=?:8&
J;AF@99A=;:85
_X

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!
!
!
!
!

$@;=?&Q?@F@;9A:&N@&;UP@?=F&9=?:8@F5
#8&;UP@?=&N@&Q@?F=;:S@F&FJ@8@&F@?&?@NJ9AN=H&N@&<?@F&:&9A;9=5
C:?m9<@?&Q=QJ8:?&I&98:?=&Q?@N=PA;A=&N@&@8@P@;<=F&Q=QJ8:?Ah:;<@F&@;&8:&PUFA9:5
fF=&?@F<?A;>AN=&N@8&RA?<J=FAFP=&R=9:8H&N:N=&^J@&8=F&Q:Q@8@F&F@?m;&A;<@?Q?@<:N=F&
Q=?&9:;<:;<@F&9=;&N=<@F&9GPA9:F5
3?@N=PA;A=&N@8&<@D<=&N@98:P:N=&F=K?@&@8&9:;<:N=H&<@Pm<A9:&Q=QJ8:?&I&:FJ;<=F&
NA:?A=F5

#F<:&h:?hJ@8:&<JR=&8:&PAFP:&RAN:&^J@&8:&>?:;N@5&)=F&@F<?@;=F&N@&@F:F&=K?:F&:8<@?;:K:;&
9=;&8:F&>?:;N@FH&I&@;&8=F&PAFP=F&<@:<?=F5&3:?:&88@;:?&J;&@FQ@9<m9J8=&F@&?@Q?@F@;<:K:;&N=F&=&
<?@F&h:?hJ@8:F&9EA9:F5&):F&PmF&N@F<:9:N:F&LJ@?=;H&N@&^5@F=:@=B&M$3!*%&E&T"$.+%H&6(,!"&/*&
/.H"!&E&"$&("#!3z&N@&05`95KF=I:H&F@&N@K@;&9A<:?&6$&"1,!"(3&)"&.(&%!,*1,%&I&g(%&<*"H%&I&N@&
)@@=:95&6$&#!./","5&

A6*&C*Ji8:@7*A<=A7*c+dde_+o+e6T
#;&<=?;=&:&'a]]H&@8&QUK8A9=&^J@&:FAF<M:&:&8=F&<@:<?=F&@F<:K:&9:;F:N=&N@&8=F&8:?>=F&N?:P:F&
?=Pm;<A9=F&@;&<?@F&:9<=F&I&N@SG&N@&A?&:8&<@:<?=5&#;<=;9@F&J;:&F@?A@&N@&:J<=?@F&I&:9<=?@F&
N@9ANA@?=;&E:9@?&=K?:F&Q@^J@W:FH&@;&J;&:9<=H&^J@&NJ?:F@;&FG8=&J;:&E=?:H&I&?@Q?@F@;<:?8:F&
@;& 9J:<?=&F@FA=;@F&NAL@?@;<@F&:&8=&8:?>=&N@&8:&<:?N@(&a(VOH&6(VOH&'O(VO&I&''(VOz&Q=?& @F@&
P=<AR=&F@&8@&N@;=PA;G&<@:<?=&Q=?&E=?:Fz&N@&@F<:&P:;@?:H&9:N:&@FQ@9<:N=?&Q=NM:&@F9=>@?H&
9=P= & @; & @8 & 9A;@ & N@ & E=IH & 8: & F@FAG;& ^J@ & PmF & 8@ & >JF<:F@5 & T:F<: & 'aaOH & @F<:F & =K?A<:F & @?:;&
E:K8:N:FH&Q@?=&@8&QUK8A9=&<:PKAb;&F@&9:;FG&N@8&<@:<?=&Q=?&E=?:FH&^J@&@;<?G&@;&9?AFAF5&1@&
Q@;FG&@;<=;9@F&@;&^J@&FA&:&@F<:F&=K?:F&F@&8@F&:W:NM:&PUFA9:H&:<?:@?M:;&N@&;J@R=&:8&QUK8A9=5&
#F<=&F@&@DQ@?AP@;<:&@;&'aaO&9=;&8:&=K?:&A%&+%(+*I(&)"&$%&A3$%H&Q:?:&8:&^J@&EAh=&PUFA9:&
4:I:@=A7*%<E:A55&#8&@DQ@?AP@;<=&<JR=&bDA<=&IH&:&Q:?<A?&N@&:EMH&@8&q0b;@?=&CEA9=r&F@?m&I:&
9=;&PUFA9:&I&9=PA@;h:&8:&EAF<=?A:&^J@&@F<JNA:P=F&:&9=;<A;J:9AG;5&#8&8J>:?&Q=?&@D9@8@;9A:&
@;&N=;N@&F@&?@Q?@F@;<:?m&@F<@&;J@R=&>b;@?=&F@?m&@8&"@:<?=&%Q=8=5
#F@&0b;@?=&CEA9=&;J@R=&F@&QJ@N@&N@LA;A?&9=P=&7F@5*9:59@5C*F@:M:B*:8*E8*>7C7*5A97B*
J:8:@5CK:89: * I: * A5@[A9:@ * A?K=A7 * D * \E: * >: * @:L@:>:895 * :8 * C5> * >:>=78:> * L7@*
<7@5>&N@&:8>J;=F&<@:<?=F&P:N?A8@W=F5
#F<:F&=K?:F&<A@;@;&8:F&FA>JA@;<@F&9:?:9<@?MF<A9:F(
! *K?:&@F9b;A9:&@;&8@;>J:&9:F<@88:;:&@;&J;&:9<=5'
! C=;F<:&N@&@;<?@&Z&I&a&;UP@?=F&N@&PUFA9:5
! %8<@?;:&NAm8=>=F&E:K8:N=F&I&9:;<:N=F5&
! ,@F:??=88=&N@&J;&8@;>J:S@&PJFA9:8&N@&98:?:&<@;N@;9A:&Q=QJ8:?H&9=;&JF=&N@&9:;9A=;@F&
:;N:8Jh:FH&F@>JANA88:FH&K=8@?=FH&<A?:;:FH&L:;N:;>=FH&9:9EJ9E:FH&Q=8=FH&@<95
! 4J@?<@ &9:?:9<@?Ah:9AG;& PJFA9:8&N@&8=F& Q@?F=;:S@FH &88@>:;N= &@;& :8>J;=F&9:F=F & : & 8:&
9:?A9:<J?:&I&FJ&98:FALA9:9AG;&@;&KJ@;=F&I&P:8=F5
! ,@L@;F: & N@ &R:8=?@F & <?:NA9A=;:8@F& 9=P= & ;:9A=;:8AFP=H & Q:<?A=<AFP=H & = & N@ & 8=F&
F:9?ALA9A=F&Q?=QA=F&N@&8:&;:9A@;<@&KJ?>J@FM:&N@9AP=;G;A9:5&
! ): &9=;<@PQ=?:;@AN:N5&1:8@;&:&?@8J9A?&Q=8M<A9=FH&P:?9:F&N@&Q?=NJ9<=F&9=P@?9A:8@FH&
:8JFA=;@F&:8&;:9A@;<@&9A;@H&8=F&Q?=K8@P:F&PJ;A9AQ:8@FH&K:A8:?A;:F&I&9JQ8@<AF<:FH&8:&
FJKAN:&N@&8=F&Q?@9A=FH&8:F&P=N:F&@;&@8&R@F<A?&I&@;&8:F&9=F<JPK?@FH&@<95&
! #8&0b;@?=&CEA9=&@F&J;&L@;GP@;=&PJI &<MQA9=&N@&$:N?AN5&#8&?@F<=&N@&8:F&?@>A=;@FH&
_Z

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!
!
!

9J:;N=&F:8@;&@;&8:F&=K?:FH&F=;&RAF<:F&N@FN@&$:N?AN5
$UFA9:&JF:N:&@F&N@&9:?m9<@?&Q=QJ8:?&J?K:;=&cR:8FH&E:K:;@?:H&P:hJ?9:H&9E=<AFH&<:;>=H&
@8&Q:F:9:88@&=&Q:F=N=K8@B5
3?@F@;9A:&N@8&L=898=?@&:;N:8Jh&I&N@&8:&S=<:5
*<?:F&N:;h:F(&F@>JANA88:&I&@8&9E=<AFH&Q=FAK8@P@;<@&N@&=?A>@;&@F9=9bF&^J@&9=PA@;h:H&:&
Q:?<A?&N@&@F<:&bQ=9:H&:&F@?&@8&FMPK=8=&N@&$:N?AN5

+=&=KF<:;<@H&8:&@DQ?@FAG;&0b;@?=&CEA9=&?@FJ8<:&E=I&:PKA>J:H&N:N=&^J@&:K:?9:&>b;@?=F&
NAL@?@;<@FH&F=K?@&<=N=&N=F(&@8&F:A;@<@&8M?A9=&I&8:&?@RAF<:(
15=8:9:*CH@=A75&#F&J;:&=K?:&PJFA9:8&@;&J;&:9<=H&N@&:99AG;&9=;<@PQ=?m;@:H&9=;&Q@?F=;:S@F&
I & :PKA@;<@ & Q=QJ8:?@FH & 8=9:8Ah:N= & @; & J;: & 9AJN:N & c>@;@?:8P@;<@ & $:N?ANBH & N@ & 9:?m9<@?&
9GPA9=H&@;?@N=&PM;AP=H&8@;>J:S@&9=8=^JA:8&I&LA;:8&L@8Ah5&#8&@S@PQ8=&PmF&98:?=&@F&@8&N@&A%&
<"!'"(%&)"&$%&T%$3/%H&N@&"=PmF&^@:9?85
/:M=>955&*K?:&8M?A9:&^J@&9=;FAF<@&@;&J;:&FJ9@FAG;&N@&@F9@;:F&IJD<:QJ@F<:F&FA;&9:FA&@;8:9@&
:?>JP@;<:8H&F:8R=&8:&:8JFAG;&:&8:&:9<J:8AN:N&Q:F:N:&=&:&J;&<@P:&9=;9?@<=H&<:PKAb;&:9<J:85&
f;&@S@PQ8=&<:PKAb;&Q@?L@9<=&QJ@N@&F@? &A%&M!%(&2J%& N@&4@N@?A9= &%<E:A5z&@;&@F@&9:F=H&
A;FQA?:N:&@;&8:&9=;F<?J99AG;&N@&J;:&;J@R:&9:88@&^J@&F@&Q?=I@9<:K:&@;<=;9@F(&8:&:9<J:8&0?:;&
YM:&P:N?A8@W:5
):F&P@S=?@F&Qm>A;:F&N@8&0b;@?=&CEA9=&F@&@F9?AKA@?=;&Q=?&@F<=F&:J<=?@FH&^J@&;=F&E:;&
8@>:N=&=K?:F&>@;A:8@FH&=MN:F&PA88:?@F&N@&R@9@F&@;&<=N:&#FQ:W:&I&%Pb?A9:H&I&9JI:F&PUFA9:F&
E:;&Q:F:N=&:&F@?&Q:?<@&N@&;J@F<?=&8@>:N=&PJFA9:85&1A>JA@;N=&J;&Q=9=&8:&FJ9@FAG;&N@&bDA<=F&
N@8 & 0b;@?= & CEA9=H & N@K@P=F & N@F<:9:?( &4:I:@=A7 * %<E:A5& 9=; &A% & M!%( & 2J%H &>#.%O&
%P.+%!*$$31 & E&%#.%!)*"(,"& I &6$ &'%,"3z &'7K[> * ^@:9?8& 9=; &A% &<"!'"(% & )" &$% &T%$3/%z&
/EL:@97*%<5LH&9=;&A%&W"<3$,31%&I&6$&,%/'3!&)"&#!%(%)"!31z&R:@?8=K7*0=Ki8:`&9=;&
A%&'3)%&)"&A.*1&>$3(13H&6$&'%*$"&)"&A.*1&>$3(135

N"#$$0($b(-b=.&($.)$.&$2/,&+$^^"$J.'(5.)'/($B$-.2*(=-('/>)"
%&9=PA@;h=F&N@8&FA>8=&[[&@8&0b;@?=&CEA9=&A;A9A:&J;:&>?:NJ:8&N@9:N@;9A:H&I&9=;&@88=&8:&
h:?hJ@8:&N@F@PK=9:&@;&FJ&<@?9@?&Q@?M=N=H&^J@&F@&@D<A@;N@&E:F<:&N@FQJbF&N@&8:&0J@??:&CARA8H&
@;&8=F&:W=F&9A;9J@;<:5&#8&0b;@?=&CEA9=&LJ@&@?=FA=;:N=&Q=?&J;:&F@?A@&N@&;J@R:F&R:?A:;<@F&
8M?A9:FH & 9=P= & @8 & q>b;@?= & M;LAP=rH & R:?A@<bFH & 9JQ8b & I & 8: & =Q@?@<:H & ^J@ & ;= & @?: & FA;= & J;:&
9=;<:PA;:9AG;&@;<?@&8:F&R:?A@N:N@F&I&8:&h:?hJ@8:z&Q@?=&8:&h:?hJ@8:&?@FJ?>AG&N@&FJF&9@;Ah:F&IH&
9=;9?@<:P@;<@H & 8: & RA@S: & j:?hJ@8: & 0?:;N@H & ^J@ & @F & 8: & ^J@ & N@S: & FJF & P@S=?@F & Qm>A;:F5 & f;&
@;@PA>=&;=&P@;=?&LJ@H&FA;&NJN:H&8:&A;R@;9AG;&N@8&9A;@P:<G>?:L=5
):&h:?hJ@8:&@;<?:&@;&N@9:N@;9A:&:&Q:?<A?&N@&'6'Oz&FA;&@PK:?>=H&@F<:&N@9:N@;9A:&NJ?:?m&
Q=9=&N:N=&^J@&F@&RJ@8R@&:&?@9JQ@?:?&@;&8:&Nb9:N:&N@&8=F&R@A;<@&9=;&LA>J?:F&N@&8:&<:88:&N@&
)K5I:7*P=M:>*c937"/*31&I&:3\%&]!%(+*10.*,%YH&R7>i*1:@@587&I&35FC7*-E85*c6$&(*\3&
H.)J3&I&6$&%13/'!3&)"&:%/%1+3Y5
#F<=F & :J<=?@F & R:; & : & E:9@? & =<?= & <AQ= & N@ & h:?hJ@8:H & 9=; & =<?=F & :A?@F & I & K:Fm;N=F@ & @; & 8:F&
9=F<JPK?@FH&8:F&P=N:F&I&8=F&Q@?F=;:S@F&^J@&9A?9J8:;&Q=?&$:N?AN&I&Q=?&#FQ:W:&@;&@8&FA>8=&
[[5& %& 8:& P:;@?: & N@&J;& ;J@R= &K?=<@ &N@& ?=P:;<A9AFP=&F@;<AP@;<:8AF<:H &F@& @;<?=;Ah: & J;&
_]

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

>b;@?=&8M?A9=&^J@&?@9=>@&8:F&;=<:F&9EJ8:Q:F&N@&8:&h:?hJ@8:&:;<@?A=?H&9=;&FJ&>:?K=5
#8&LA;:8&N@&8:&0J@??:&CARA8&:9<ARG&Q=?&J;&<A@PQ=&@8&PJ;N=&N@&8:&h:?hJ@8:5&4J@?=;&PJI&
APQ=?<:;<@F&Q:?:&@8&>b;@?=&8:F&=K?:F&N@ &35FC7*17@7`[F5CH &a%,*.1`%O&A%&)"$&/%(3H3&)" &
!31%1 &I &A% & ,%'"!("!% & )"$ & 5."!,3h &R5A=897 * 0E:@@:@7H & 9=; &A% & !31% & )"$ & %P%;!S( &I &6$&
7.C15")&)"$&1"<*$$%(3h &4:I:@=A7*(7@:87*'7@@7F5& 9=; &A.*1%&]"!(%()%O &I &4@58A=>A7*
)C78>7&9=;&A%&+%$"1"!%O&A%1&$"%()!%1Z&

__

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!"#$%&'(%)$%*$+,$%-%")%.$))"!
'57&):&N:;h:&E:F<:&@8&FA>8=&[/[5
'5'57&):&N:;h:&Q:?:&8=F&>?A@>=F5
'5!57&#8&A;A9A=&N@&8:&N:;h:&9=P=&:?<@(&@8&.@;:9APA@;<=&I&@8&`:??=9=5
'5V57&#8&K:88@<&@;&@8&FA>8=&[Y///5&+=R@??@H&@8&qK:88@<&Nn:9<A=;r&I&=<?:F&?@L=?P:F5
!57&#8&K:88@<&@;&@8&FA>8=&[/[5&#8&K:88@<&?=Pm;<A9=5&1:8R:<=?@&YA>:;G&I&C:?8=&`8:FAF5
!5'57&)=F&N=F&>?:;N@F&K:88@<F(&):&FM8LAN@&I&0AF@88@5&":>8A=;AH&3@??=<&I&#8FF8@?5
!5!57&):&Q?@F@;9A:&N@&#FQ:W:5&):&@F9J@8:&K=8@?:5
!5V57&,@&8:&N@9:N@;9A:&:&8:&?@F<:J?:9AG;&N@8&K:88@<(&.JFA:5
V57&)=F&9:PKA=F&N@8&FA>8=&[[5&1@?>@A&,A:>EA8@RH&4=A;@H&$:FFA;@&I&8=F&`:88@<F&.JF=F5
V5'57&):F&?@L=?P:F&N@&,A:>EA8@R5
V5!57&)@=;AN&$:FFA;@&I&1@?>@&)AL:?5
V5V57&*<?=F&?@L=?P:N=?@F5
X57&):&N:;h:&P=N@?;:5
Z57&):&N:;h:&@FQ:W=8:5

!"#$0G$JGIhG$6GEOG$%0$E<R03$^<^"

): & N:;h: & F@ & QJ@N@ & @F<JNA:? & 9=P@;h:;N= & N@FN@ & 8: & Q?@EAF<=?A:H & N:N= & ^J@ & E: & FAN= & J;&
L@;GP@;=&9=<ANA:;=z&=&KA@;&Q:?<A@;N=&I:&N@&@88:&9=P=&:?<@&@R=8J9A=;:N=H&@F&N@9A?H&J;&:?<@&
^J@H&:IJN:N=&N@&J;:&PUFA9:&9?@:N:&Q:?:&F@?&K:A8:N:H&;@9@FA<:&N@8&@F9@;:?A=H&@F9@;=>?:LM:H&
@<95
2:&@;&8:F&QA;<J?:F&?JQ@F<?@F&N@&8:&#N:N&N@&3A@N?:&@F<m&Q:<@;<@&FJ&JF=&Q:?:&NAR@?F=F&
?A<J:8@Fz & JF=&^J@&9=;<A;U:&@;&L?@F9=F&N@&"@K:F&I&#>AQ<=H &@;&E=;=?&:&/FAF5&"=N:&@8& m?@:&
P@NA<@??m;@:&9=;F@?R:&<@F<AP=;A=F&N@&@F<@&<AQ=&IH&:FMH&@;&<=?;=&:8&:W=&'XOO&:;<@F&N@&C?AF<=&
@DAF<@&I:&8:&,:;h:&N@8&<=?=H&@;&8:&^J@&J;:&F@?A@&N@&N:;h:;<@F&K:A8:;&:8?@N@N=?&N@&J;&<=?=H&
F:8<:;N=&F=K?@&FJF&9J@?;=F5

+T+T_*-5*I58`5*L5@5*C7>*J@=:J7>T
3@?=&8:&N:;h:&@F&@8@R:N:&:&J;:&9:<@>=?M:&FJQ@?A=?&Q=?&38:<G;H&^JA@;&8:&9=;FAN@?:&9=P=&
J;:&Q:?<@&N@&8:&@NJ9:9AG;&@;&8:&A;L:;9A:5&)=F&>?A@>=F&NAF<A;>J@;&@;<?@&8:F&;J@R@&PJF:F&:&8:&
PJF:&N@&8:&N:;h:H&K"!51J+3!"H&8:&^J@&F@&9=PQ8:9@&@;&8:&N:;h:&@;&?J@N:5&#F&PmFH&Q:?:&8=F&
>?A@>=F&8:&PUFA9:&;=&@F&9=P=&Q:?:&;=F=<?=F&q@8&:?<@&N@&8=F&F=;AN=FrH&@F&:8>=&PJ9E=&PmF&
9=PQ8@S=&I&?A9=H&8:&PUFA9:&@F&8: &/3.1*`"&,"#("H&@F&N@9A?H&@8&:?<@&N@&8:F&PJF:F&^J@H&@;&
F@;<AN= & >?A@>=H&@F&8:&Q:8:K?:&K:A8:N: &I&:9=PQ:W:N:&Q=?&A;F<?JP@;<=Fz &I&:K:?9:H&Q=?& 8=&
<:;<=H&P@8=NM:H&?A<P=H&N:;h:&I&9:;<=5
#;<@;N@P=F & Q=? & ^Jb & E:F<: & 8=F & NJ?=F & >J@??@?=F & @FQ:?<:;=F & 8: & JF:K:; & 9=P=&
@;<?@;:PA@;<=&Q:?:&8:&>J@??:5&+:N:&P@;=F&^J@&1G9?:<@F&F@W:8:&^J@&@8&^J@&P@S=?&K:A8:&@F&
@8 & P@S=? & >J@??@?=5 & #; & 8=F & :9<=F & 9J8<J?:8@F & N@ & 8=F & >?A@>=FH & N@FN@ & <A@PQ=F & ?@P=<=FH & 8:&
Q:8:K?:&F@&:F=9A:K:&:&8:&PUFA9:&I&8:&N:;h:5
`:S=&@8&:FQ@9<=&N@&FJ&LJ;9AG;&@NJ9:N=?:H&8:&/3.1*`"&F@&@;<@;NM:&9=P=&J;&:?<@&^J@&J;@&
Q:8:K?:H&P@8=NM:&I&K:A8@H&I&F@&9=;FAN@?:K:&8:&PmF&@LA9:h&N@&8:F&:?<@F&Q:?:&@NJ9:?&:8&F@?&
EJP:;=5&

+TUT_*&C*=8=A=7*I:*C5*I58`5*A7K7*5@9:,*:C*/:85A=K=:897*D*:C*^5@@7A7T

C=; & 8: & 88@>:N: & N@8 & $@NA@R=H & 8: & N:;h:H & ^J@ & E:KM: & Q:F:N= & J;=F & :W=F & NALM9A8@F & N@&
Q?=EAKA9AG;H&F@&E:9@&I:&QUK8A9:5&3=N@P=F&N@9A?&^J@&;:9@&@;&@F<:&bQ=9:&8:&N:;h:&N@&F:8G;5&
":PKAb;&@DAF<M:;&N:;h:F&?@8A>A=F:FH&F=K?@&<=N=&@;&@8&FA>8=&[///&9=;&@8&%?F&+=R:5&
%&9=PA@;h=F&N@8&FA>8=&[Y&F@&QJK8A9:&@8&Q?AP@?&P:;J:8&N@&N:;h:&@J?=Q@=5&):F&K:F@F&Q:?:&
_a

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

@;<@;N@?&@8&Q?=9@F=&N@8&;:9APA@;<=&N@&8:&N:;h:&9=P=&:?<@&N@&@F9@;:?A=&F=;(
!
!

!
!
!

#F&@;&@8&.@;:9APA@;<=&N=;N@&:89:;h:&>?:;&APQ=?<:;9A:5&1@&@FQ@?:K:&^J@&<=N=F&8=F&
E=PK?@F&I&PJS@?@F&A;F<?JAN=F&LJ@F@;&KJ@;=F&K:A8:?A;@F5
$J9E:F&N:;h:F&;=&@?:;&FA;=&:??@>8=F&N@&P@8=NM:F&Q=QJ8:?@FH&:J;^J@&8:&P:I=?M:&
LJ@?=; &@F9?A<:F&Q:?: &?@J;A=;@F&F=9A:8@Fz &Q@?=&F=K?@&@88:F&F@&A;A9AG &J;&Q?=9@F= & N@&
?@>J8:9AG; &IH& @;&9=;F@9J@;9A:H & N@& F=LAF<A9:9AG;5 &1J& JF= & 9=;<A;J=& EAh= &^J@& KJ@;:&
Q:?<@&N@&8=&^J@&N@;=PA;:P=F&PUFA9:&A;F<?JP@;<:8&N@8&Q@?M=N=H&F@:&Q:?:&N:;h:?5
):F&;=?P:F&N@&8:F&N:;h:F&F@&EA9A@?=;&N@&A;P@NA:<=&9=PQ8@S:F&I&?A9:F&@;&9J:;<=&:8&
P=RAPA@;<=&N@8&KJF<=H&8:&9:K@h:&I&8=F&K?:h=F5
1@&NAF<A;>J@;&N=F&98:F@&N@&N:;h:F(&8:F&:8<:FH&^J@&<@;M:;&8@R:;<:PA@;<=F&N@&QA@?;:F&I&
F:8<=Fz&I&8:F&K:S:FH&^J@&9:FA&;=&F@Q:?:K:;&8=F&QA@F&N@8&FJ@8=5
1@&:>?JQ:;&@;&Q:?@F&=&<?M=F5&f;:&9=PKA;:9AG;&L:R=?A<:&@F&J;:&N:;h:&8@;<:&@;&?A<P=&
KA;:?A=H&F@>JAN:&N@&J;:&?mQAN:&@;&<@?;:?A=5&$JI&Q?=;<=&F@&EA9A@?=;&L:P=F:F&J;:&
F@?A@&N@&@88:FH&FA@PQ?@&9=?<@F:;:FH&9=P=&8: &5%<%(%H&8: &#%$$%!)%H&8: &%$$"/%()%H&8:&
+3!!"(,"H&8:&#%<3,%&I&@8&1%$,%!"$$35

):&@98=FAG;&N@8&K:88@<&9=P=&:?<@&F@&Q?=NJ9@&NJ?:;<@&8:&F@>J;N:&PA<:N&N@8&FA>8=&[Y/H&@;&
8:F&9=?<@F&A<:8A:;:FH&I&88@>:&:&F@?&J;&:?<@&@FQ@9MLA9=&9J:;N=&F@&A;9=?Q=?:&:&8:&9=?<@&L?:;9@F:5&
%FM & 9=PA@;h: &8: & PUFA9: & N@&K:88@< &PmF& <@PQ?:;:H&@8 &'%$$",&+3/*0."& )" &$% &!"*("H &^J@& F@&
?@Q?@F@;<: & @; & 3:?MF & @; & 'Za' & Q:?: & 9@8@K?:? & 8=F & @FQ=;F:8@F & N@8 & NJ^J@ & N@ & k=I@JF@ & 9=;&
$:?>:?A<:&N@&)=?@;:5&C=;&@88=&;:9@&@8&K:88@<&98mFA9=H&Q?@N@9@F=?&N@8&K:88@<&P=N@?;=5
):&N:;h:&FJL?@&J;:&>?:;&@R=8J9AG;&@;&4?:;9A:&:&Q:?<A?&N@&@F<@&P=P@;<=H&N@KAN=&:8&:Q=I=&
?@:85&#8&?@I&)JAF&[/Y&F@&9=;RA@?<@&@;&@8&>?:;&P@9@;:F&N@8&K:88@<z&b8&PAFP=&@?:&K:A8:?M;&I&
:Q:?@9M:&@;&8=F&K:88@<F5&1@&9?@:&:FM&@8&N@;=PA;:N=&'%$$",&)"&+3.!5&
#8 &'%$$",&)"&+3.!& @?:&J;:&L=?P:&N@&N:;h:H&I&<:PKAb;&N?:Pm<A9:H&^J@&9=;FAF<M:&@; &E85*
>:@=:*I:*.)*-P.2*7*AE5I@7>*A7KLE:>97>*L7@*:C*I:AC5K5I7*7*A5895I7*I:*M:@>7>B*
C5*L5897K=K5*D*:C*F5=C:*L@7L=5K:89:*I=A<75&#?:&J;:&N:;h:&@F<?A9<:P@;<@&9=?<@F:;:5&
1J&@F<?J9<J?:&@?:(
'5 ):&=K?:&N?:Pm<A9:H&9=;&:99AG;H&N@F:??=88=&I&N@F@;8:9@5
!5 ,@FQJbF & F@>JM: & 8: & =K@?<J?: & A;F<?JP@;<:8 & I & F@ & @DQ=;M: & @8 & <@P: & P@NA:;<@ & J;&
?@9A<:N=5
V5 1@>JM:; & 8:F &"(,!C"1H & ^J@ & @?:; & 9=P= & 8=F & :9<=F& N@ & 8: & 9=P@NA: & I & @; & 8=F & ^J@ & F@&
P@h98:K:&@8&9:;<=&I&8:&N:;h:5
X5 "@?PA;:K:&9=;&@8&>?:;&K:88@<H&^J@&@?:&8:&:Q=<@=FAF&LA;:8&@;&8:&^J@&A;<@?R@;M:&<=N:&
8:&9=?<@5
): & PUFA9: & 9=; & 8: & ^J@ & F@ & :9=PQ:W:K:; & @?: & I: & Q8@;:P@;<@ & K:??=9:5 & 4J@ & L:P=F: & 8:&
=?^J@F<:&N@;=PA;:N:&q8=F&!X&RA=8A;@F&N@8&.@IrH&9=;&^J@&F@&:9=PQ:W:K:&NA9E=&K:88@<5&#F&
APQ=?<:;<@ & :W:NA? & ^J@ & @F=F & K:88@<F & AK:; & :9=PQ:W:N=F & N@ & @F9@;=>?:LM:F & L:F<J=F:FH & 8=F&
K:A8:?A;@F & :<:RA:N=F & ?A9:P@;<@ & 9=; & <?:S@F & I & 9=; & K@88:F & PmF9:?:F & F@?RM:; & : & R@9@F & Q:?:&
N@FRA:?&8:&:<@;9AG;&I&^J@&@8&QUK8A9=&;=&:NRA?<A@?:&8:&Q=9:&<b9;A9:&N@&8=F&9=?<@F:;=F&@;&@8&
K:A8@5

+TVT_ * &C * F5CC:9 * :8 * :C * >=JC7 * YP$$$T * "7M:@@:B * :C * xF5CC:9 * Iq5A9=78y * D * 79@5>*

@:G7@K5>T
#;&@8&FA>8=&[Y///&F@&Q?=NJ9@;&J;:&F@?A@&N@&9:PKA=F&APQ=?<:;<@F(
'5 C=PA@;h:&8:&Q?=L@FA=;:8Ah:9AG;&N@8&K:88@<&IH&9=;&@88=H&FJ&@R=8J9AG;&9=P=&:?<@5&C?:;&
_6

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

9:;<AN:N&N@&K:A8:?A;@F&FJ?>@;&:&8=&8:?>=&N@&@F@&FA>8=5
!5 %8>J;:F&K:A8:?A;:FH&9=P=&$:?A@&C:P:?>=H&^JA<:;&@8&<:9G;&N@&8=F&h:Q:<=F&I&:9=?<:;&
8:F&L:8N:F&9=;&>?:;&@F9m;N:8=5&#F<=&Q@?PA<M:&Q:F=F&;J@R=F5
V5 1J&?AR:8&LJ@&$:?A@&j:88bH&^J@&<?:F8:N:&:&)=;N?@F&@8&A;R@;<=5
X5 3=?&LA;&88@>:&@8&>?:;&?@L=?P:N=?&N@8&K:88@<H&k@:;&0@=?>@F&"7M:@@:&c'_!_7'aO6BH&^J@&
8= &?@L=?P:?m & E:9A@;N= & N@F:Q:?@9@? & 8:F & PmF9:?:F & ^J@ & 9JK?M:; & : & 8=F & N:;h:?A;@FH&
N:;N= & : & 8=F & K:88@<F & AN@:F & N?:Pm<A9:F & I & N@S:;N= & @F9?A<= & J; & 8AK?= & ?@R=8J9A=;:?A=(&
8%!,%1&13'!"&$%&)%(P%&E&"$&'%$$",H&@;&'_]O5
):F&AN@:F&I&:Q=?<:9A=;@F&N@&+=R@??@&F@&QJ@N@;&?@FJPA?&:FM(
! #8&K:88@<&;=&@F&FAPQ8@P@;<@&J;&Q?@<@D<=&Q:?:&K:A8:?H&FA;=&J;&P=N=&N@&@DQ?@F:?&J;:&
AN@:&N?:Pm<A9:5
! 1JQ?AP@&8:F&PmF9:?:FH&Q@8J9:F&I&:PQ8A=F&R@F<AN=F&N@&8:F&K:A8:?A;:F5
! 4A;:8P@;<@H&F@&Q?@=9JQ:&N@8&@F<JNA=&N@&8:&:;:<=PM:&EJP:;:&Q:?:&F:K@?&^Jb&@F&8=&
^J@&F@&8@&QJ@N@&@DA>A?&:8&9J@?Q=&EJP:;=5
,@S:P=F & Q:?:&@8 &LA;:8&J;:&N@&8:F&:Q=?<:9A=;@F&PmF&APQ=?<:;<@F&N@&+=R@??@H&I& @F & 8:&
A;R@;9AG;&N@8&N@;=PA;:N= &'%$$",&)B%+,*3(H&^J@&;=&@F&FA;=&J;&K:88@<&@;&@8&^J@&@8&<@P:&@F&
@DQ?@F:N=&U;A9:P@;<@&Q=?&P@NA=&N@&8:&N:;h:&I&8:&PMPA9:H&FA;&;@9@FA<:?&N@&J;:&@DQ8A9:9AG;&
9:;<:N:&=&E:K8:N:5&C=;&@88=H&@8&K:88@<&@;<?:K:&@;&J;:&;J@R:&bQ=9:5
3@?= & 8:F & ?@L=?P:F & ;= & F@ & ^J@N:?=; & @; & +=R@??@5 & C:FA & :8 & PAFP= & <A@PQ= & =<?= & >?:;&
?@L=?P:N=?&^J@&RARM:&@;&%JF<?A:H&88:P:N=&Z=CG:@I=8JH&LJ@&;=PK?:N=&@;&YA@;:&P:@F<?=&N@&
K:A8@&N@8&"@:<?=&N@&8:&C=?<@5&C=P@;hG&FJQ?APA@;N=&Q@8J9:F&I&9:?@<:FH&@&A;9=?Q=?:;N=&:8&
K:88@<&:&Q@?F=;:S@F&?@:8@FH&:8N@:;=F&<A?=8@F@F&I&EU;>:?=F&9=;&FJF&<?:S@Fz&F@&?@Q?@F@;<:?=;&
;JP@?=F=F&K:88@<F&PMPA9=FH&?@FQ@<:;N=&8:F&8@I@F&N@8&:?<@&N?:Pm<A9=H&A>J:8&^J@&+=R@??@5&
):F&AN@:F&N@&TA8L@?NA;>&LJ@?=;&F@>JAN:F&Q=?&FJ&FJ9@F=?&@;&YA@;:H&@8&A<:8A:;=&)8J=7C=8=H&
^JA@; & P=;<G & >?:; & 9:;<AN:N & N@ & K:88@<F7Q:;<=PAP:5 & #; & FJ & @F<:;9A: & @; & $A8m; & 9=;=9AG & :&
+=R@??@&I&9=P@;hG&8:&NAFQJ<:&@;<?@&:PK=F&Q=?&F:K@?&^JAb;&E:KM:&N@F9JKA@?<=&@8&K:88@<7
Q:;<=PAP:H&N@&N=;N@&F@&=?A>A;:;&8:F&8%!,%1&N@&+=R@??@5
)=&APQ=?<:;<@&@F&F@W:8:?&^J@&@;<?@&8=F&<?@F&@;<?@>:?=;&:&#J?=Q:&J;&;J@R=&qK:88@<7
N?:P:7Q:;<=PAP:r5&3:?:&@F<=F&K:A8:?A;@F&9?@:?=;&PUFA9:&8=F&>?:;N@F&9=PQ=FA<=?@F &N@8&
P=P@;<=H&F=K?@&<=N=&08J9H&:&^JA@;&I:&F@&E:&@F<JNA:N=z&I&@8&K:88@<&<JR=&J;:&>?:;&RAN:H&
N@FN@&8:&88@>:N:&:8&<?=;=&N@&)JAF&[Y/&E:F<:&8:&.@R=8J9AG;&4?:;9@F:5

7"#$%0$LG00%O$%I$%0$E<R03$^<^"$%0$LG00%O$Y38mIO<?3"$
EG0_GO3Y%$_<RGI[$l$?GY03$L0GE<E"
%&LA;:8@F&N@8&FA>8=&[Y///&F@&@F<?@;:&@;&)=;N?@F&@8&K:88@<&]$3!%&E&8C;*!3H&9=;&9=?@=>?:LM:&N@&
CE:?8@F&,AN@8=<5&#;&@F<@&K:88@<&8=F&K:A8:?A;@F&F@&N@FQ8:h:K:;&9=;<A;J:P@;<@&Q=?&8=F&:A?@F&I&
LJ@&@8&Q?AP@?=&@;&^J@&F@&J<A8Ah:?=;&9:K8@F&Q:?:&@F<=F&RJ@8=FH&J;:&N@&8:F&Q@9J8A:?AN:N@F&N@8&
K:88@<&?=Pm;<A9=5&#;&@F<:&=K?:&F@&Q?@F@;<G&J;:&N@&8:F&>?:;N@F&K:A8:?A;:F&N@8&FA>8=&[/[H&
(5@=:*'5JC=78=5&%&,AN@8=<&8@&R:8AG&F@?&88:P:N=&Q=?&@8&h:?&N@&.JFA:H&I&Q=?&A;L8J@;9A:&N@&b8&
F@&A;A9A:?m&8:&>?:;&EAF<=?A:&N@8&K:88@<&@;&@F<@&Q:MF5
T:I&=<?=F&N=F&;=PK?@F&@F@;9A:8@F&Q:?:&@8&K:88@<H&FA<J:N=F&@;<?@&8=F&FA>8=F&[Y///&I&[/[(&
15CM597@: * P=J58?& I &%5@C7 * ^C5>=>5 & #8 & A<:8A:;= & YA>:;G & F@ & 9:FG & 9=; & 8: & F@>J;N: & >?:;&
K:A8:?A;: & N@8 & P=P@;<=H & 8: & RA@;@F: &(5@H5 * (:I=85H & I & :Q=?<G & :8 & K:88@< & 8:F & FA>JA@;<@F&
;=R@N:N@F(
aO

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!
!
!
!

.@:8AhG&I&QJF=&@;&RA>@;9A:&8=F&Q@;F:PA@;<=F&N@&+=R@??@5
C=;FA>JAG&^J@&@8&9J@?Q=&N@&K:A8@H&^J@&E:F<:&@;<=;9@F&9:FA&;=&F@&P=RM:H&9=P@;h:F@&:&
E:9@?8=&N:;N=&:&9:N:&K:A8:?M;&J;:&LJ;9AG;5
3=;M:&@FQ@9A:8&9JAN:N=&@;&8:&PUFA9:H&^J@&@;&PJ9E=F&9:F=F&9=PQ=;M:&b8&PAFP=5
C?@G&PJ9E=F&K:88@<FH&@;<?@&@88=F&T!3/","3&I&A31&,*,%("15

/>J:8&N@&APQ=?<:;<@&LJ@&%5@C7*^C5>=>&c'_6Z7'a_aBH&^J@&:Q=?<:&F=K?@&<=N=&8:&Q@N:>=>M:H&
@F9?AKA@;N=&J;&K!%,%)3&,"I!*+3R5!S+,*+3&)"&$%&)%(P%H&'a!O5

UT+T_ * -7> * I7> * J@58I:> * F5CC:9>, * -5 * >HCG=I: * D * 0=>:CC:T * '5JC=78=B * 3:@@79 * D*

&C>>C:@T
,@;<?=&N@&@F<@&Q@?M=N=&N@&A;A9A=&N@8&K:88@<&?=Pm;<A9=H&@DAF<@;&N=F&L@9E:F&P@P=?:K8@Fz&
J;:&LJ@&@8&@F<?@;=&N@&8:&GQ@?:&N@&$@I@?K@@?H &W3'"!,&$"&:*%'$"5&#;&@F<:&=K?:&F@&EA9A@?=;&
J;=F&P:?:RA88=F=F&N@9=?:N=F&@;&8=F&^J@&$:?M:&":>8A=;A&N:;h:K:&K:S=&8:&8Jh&N@&8:&8J;:5&$mF&
APQ=?<:;<@ & LJ@H & FA; & NJN:H & @8 & @F<?@;= & N@8 & K:88@< &A% & 1J$;*)"H & @; & 'aV!H & <:PKAb; & Q=? & $:?M:&
":>8A=;AH&N@8&^J@&F@&FA>JA@?=;&APQ=?<:;<@F&9=;F@9J@;9A:F&Q:?:&@8&LJ<J?=&K:88@<&?=Pm;<A9=5&
#;&@F<@&K:88@<&F@&QJFA@?=;&N@&P=N:&PJ9E=F&N@&8=F&@8@P@;<=F&@D<@?;=F&^J@&N@LA;@;&@8&K:88@<&
?=Pm;<A9=(
'5 CJ@?Q=&:SJF<:N=&N@&8:&K:A8:?A;:H&^J@&NAKJS:&Q@?L@9<:P@;<@&FJ&<:88@5
!5 4:8N:&8A>@?:&I&:PQ8A:H&:&8:&:8<J?:&N@&8:F&?=NA88:F5
V5 C:K@88=&Q@A;:N=&9=;&?:I:&@;&P@NA=&I&?@9=>AN=&:<?mF&@;&J;:&@FQ@9A@&N@&P=W=5&CJ@88=&
:8:?>:N=H&P:88:F&N@&9=8=?&?=F:N=&I&h:Q:<A88:F&?=F:F&N@&?:F=5
3@?= & F=K?@ & <=N= &A% & 1J$;*)"& @?: & 8: & ?@Q?@F@;<:9AG; & N@ & 8: & A;P:<@?A:8AN:N & N@8 & 9J@?Q=&
EJP:;=H&N@&8=&:KF<?:9<=H&N@&8:&?@NJ99AG;&N@8&9J@?Q=&:&8:&8M;@:5&2&Q:?:&9=;F@>JA?&@F<=&LJ@&
LJ;N:P@;<:8&8:&A;R@;9AG;&N@8&qK:A8@&F=K?@&8:F&QJ;<:FrH&^J@&A;A9AG&8:&":>8A=;AH&9=;&@8&^J@&F@&
9=;FA>JAG&N:?&9A@?<=&F@;<AN=&N@&A;>?:RAN@hH&P:I=?&@8@R:9AG;z&9=;R@?<A?&:&8:F&K:A8:?A;:F&@;&
J; & F@? & @<b?@=5 & 1A; & @PK:?>=H & <JR= & <:PKAb; & =<?:F & 9=;F@9J@;9A:F( & 8: & K:A8:?A;: & ;@9@FA<G&
:Q=I:?F@ & @; & @8 & E=PK?@ & I & bF<@H & @; & 9=;F@9J@;9A:H & F@ & 9=;RA?<AG & @; & J;: & @FQ@9A@ & N@ & P@?=&
:9=PQ:W:;<@5 & 3=? & @88=H & @8 & K:88@< & ?=Pm;<A9= & <A@;@ & 9=P= & 9:?:9<@?MF<A9: & @8 & F@? & 9:FA&
@D98JFAR:P@;<@&Q:?:&PJS@?@FH&PA@;<?:F&@8&E=PK?@&FAPQ8@P@;<@&:9=PQ:W:5
#8&=<?=&>?:;&K:88@<&?=Pm;<A9=&N@&:^J@88=F&:W=F&LJ@&M*1"$$"5&C?@:N=&Q=?&kJ8@F&3@??=<&Q:?:&
^JA@;&@?:&FJ&9=PQ:W@?:&N@&N:;h:&C:?8=<<:&0?AFAH&9=;&PUFA9:&N@ &)I7CL<:& )I5K5&#F&J;&
K:88@<&?@:8AF<:&I&PMF<A9=&:&8:&R@hH&@F&N@9A?H&EJP:;=&@;&@8&Q?AP@?&:9<= &I&L:;<mF<A9= &@;&@8&
F@>J;N=H&Q=?&8=&^J@&@8&K:A8:?M;&E:&N@&J;A?&<=N:F&8:F&<b9;A9:F&N@8&K:A8@5

UTUT_*-5*L@:>:8A=5*I:*&>L5S5T*-5*:>AE:C5*F7C:@5T
):&N:;h:&I&@8&K:A8@&F=;&:?<@F&@FQ@9A:8P@;<@&J;AN=F&:&;J@F<?:F&9=F<JPK?@F5&#;&#FQ:W:&
@DAF<@; & N:;h:F & Q:?: & 9:N: & :9=;<@9APA@;<= & 9AJN:N:;= & I & N@FN@ & <A@PQ= & A;P@P=?A:8( & 8:F&
<@;@P=F&Q:?:&9@8@K?:?&8:F&9=F@9E:FH&K=N:FH&PJ@?<@H&L@F<ARAN:N@F&N@&8=F&F:;<=FH&@<95& #88=&
Q?=NJ9@&^J@&:8>J;:F&N@&8:F&PmF&L:P=F:F&N@8&`:??=9=&LJ@F@;&@FQ:W=8:FH&9=P=&8:&+7%+3(%H&8:&
h:?:K:;N:H & @8 &5%1%+%$$"H & @<95 & ,@FN@ & @8 & FA>8= & [Y/// & 9=;=9@P=F & 8: & @DAF<@;9A: & N@ & K:A8@FH&
:8>J;=F&Q?=;<=&L:P=F=F&9=P=&8:F&'3$"!%1H&8:&1"#.*)*$$%H&@8&;%()%(#3&I&=<?=FH&^J@&88@;:?=;&
8=F&@F9@;:?A=F&N@&;J@F<?=F&<@:<?=F&I&9=??:8@F&N@&9=P@NA:F5
+=&=KF<:;<@H&8:&@98=FAG;&N@&8:&N:;h:&@;&#FQ:W:&FJ9@N@&@;&@F<@&Q@?M=N=&^J@&@F<:P=F&
@F<JNA:;N=5 & #F & : & 9=PA@;h=F & N@8 & FA>8= & [/[ & 9J:;N= & F@ & A;A9A: & 8: & N:;h: & 98mFA9:H & I & ;:9@&
N=PA;:N:&Q=?&J;&K:A8@&^J@&@F<:K:&@;<=;9@F&N@&P=N:&I&^J@&F@&A;9=?Q=?G&:&8:&N:;h:&98mFA9:H&
@8&'3$"!35&3@?=&N@&A;P@NA:<=&FJ?>@;&?AR:8@F&N@&bF<@H&8:&1"#.*)*$$%&I&@8&;%()%(#3(
a'

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!
!

#8 &F7C:@7& @F & @8 & Q?AP@? & K:A8@ & L:P=F=H & N@ & Q:?@S:H & 9=; & <?@F & Q:?<@F( & A;<?=NJ99AG;H&
:N=?;=&I&@D:8<:9AG;5
): &>:JE=I=CC5& F@&=?A>A;:&@;&): &$:;9E:H &Q@?=&?mQAN:P@;<@&F@&@D<A@;N@&Q=?&<=N:&
#FQ:W:&FJ?>A@;N=&R:?A:;<@F(&1"#.*)*$$%1&'3$"!%1H&5%1*"#%1H&1"<*$$%(%1H&#%$$"#%1H&@<95&
#F&J;&K:A8@&:8@>?@H&@;&?A<P=&<@?;:?A=H&?A9=&@;&LA>J?:F&I&R:?A@N:N&N@&P=RAPA@;<=FH&
F=K?@&<=N=&N@&8=F&QA@Fz&9=;&:9=PQ:W:PA@;<=&N@&>JA<:??:&I&9:F<:WJ@8:F5
#8&G58I58J7&@F&8:&<@?9@?:&N:;h:&@;&APQ=?<:;9A:z&J;:&N:;h:&Q8@;:&N@&9:?m9<@?&I&N@&
@DQ?@FAG;&Q:FA=;:85

,@8&@PQ8@=&N@&@F<:F&N:;h:F&FJ?>@&8:&N@;=PA;:N:&61+."$%&'3$"!%H&^J@&Q=N?M:P=F&N@LA;A?&
9=P=&J;:&I58`5*5A5IiK=A5*85A=785C*:>L5S7C5B*AED7>*K7M=K=:897>*>E@J:8*I:*C5*
>H89:>=>*:89@:*C7>*L5>7>*D*KEI58`5>*I:C*F5=C:*9:59@5C*I:C*F7C:@7*D*I:C*F5CC:9*
G@58Ai>5

UTVT_*#:*C5*I:A5I:8A=5*5*C5*@:>95E@5A=?8*I:C*F5CC:9,*/E>=5T
%&P@NA:N=F&N@8&FA>8=&[/[&N@9:@&8:&N:;h:&:&Q@F:?&N@&^J@&@;&:^J@8&<A@PQ=&F@&Q?=NJ9@&J;&
K:88@<&L:P=F=H &8355"$*%& c'a_OBH&9=;&PUFA9:&N@&)@= &#:C=F:>5&)=F&QJ;<=F&N@&Q:?<AN:&Q:?:&
@;<@;N@?&8:&FA<J:9AG;&F=;(
! /PQ=?<:;9A:&N@8&PJFA97E:885
! /PQ=?<:;9A:&N@&8:&=Q@?@<:&I&N@8&<@:<?=&KJL=&IH&Q=?&@88=H&N@&8:F&N:;h:F&N@&<AQ=&J?K:;=5
! 4J@?<@&9=PQ@<@;9A:&N@&8:&GQ@?:H&@;&FJF&P@S=?@F&P=P@;<=FH&9=;&8:&8J9E:&@;<?@&Y@?NA&
I&g:>;@?5
3@?=&N@;<?=&N@&@F<:&N@9:N@;9A:&J;&Q:MF&FJ?>M:&9=;&LJ@?h:H&.JFA:5&,@FN@&9=PA@;h=F&N@8&
FA>8=&[/[&8=F&P:@F<?=F&N@&K:88@<&L?:;9@F@F&RA:S:;&:&.JFA:H&N=;N@&9=PA@;h:&:&N@F:??=88:?F@&@8&
K:88@<H&N@&L=?P:&^J@&@;&<=?;=&:&'aaO&@8&K:88@<&98mFA9=&:89:;h:&FJ&@FQ8@;N=?&@;&@F<:&;:9AG;5&
#F<:&?@F<:J?:9AG;&@F<m&?@8:9A=;:N:&9=;&8:&88@>:N:&N@8&K:A8:?M;&I&9=?@G>?:L=&(5@=E>*3:9=L[5&
):&@;<?:N:&N@&8=F&N:;h:?A;@F&?JF=F&@;&@8&K:88@<&LJ@&J;&FJ9@F=&LJ;N:P@;<:85&C=;&J;&<AQ=&N@&
N:;h:&P:F9J8A;:H&9=;FA>JA@?=;&^J@&@8&E=PK?@&N@S:F@&N@&F@?&J;&FAPQ8@&:9=PQ:W:;<@&N@&8:&
PJS@?5&):F&;=R@N:N@F&^J@&@F<@&9=?@G>?:L=&APQ=;@&F=;(
! 0?:;&@DA>@;9A:&<b9;A9:&:&<=N=F&8=F&K:A8:?A;@FH&;=&FG8=&:&8=F&Q?A;9AQ:8@F5
! %9@Q<:&8:&<?:NA9AG;&?JF:&N@&N:?&8:&PAFP:&APQ=?<:;9A:&:&8=F&K:A8:?A;@F&P:F9J8A;=F&
cN=<:N=F&N@&>?:;&LJ@?h:&I&RA?A8AN:NBH&^J@&:&8=F&L@P@;A;=F5
! /;R@;<:&Q:F=F&I&P=RAPA@;<=F&;J@R=F5
! 1JF&K:88@<F&<@;M:;&Q=?&8=&>@;@?:8&F@AF&:9<=FH&9=;&:>?JQ:9A=;@F&9=PQ8A9:N:F&I&PJI&
>?:;N@F5
3@<AQm&<JR=&8:&FJ@?<@&N@&9=8:K=?:?&9=;&PUFA9=F&N@&8:&APQ=?<:;9A:&N@ &'A<5=p7M>pD& I&
0C5`E87M5 & #8 & Q?AP@?= & 8@ & 9=PQJF= &A% & '"$$% & ).!/*"(,"H & :8 & ^J@ & FA>JAG &6$ & +%1+%(."+"1&
c'a6!B&I &6$&$%#3&)"&$31&+*1("1& c'a6ZBH&J;=&N@&8=F&K:88@<F&PmF&APQ=?<:;<@F&N@8&FA>8=&[/[H&
<=N=F&N@&"9E:A=RFA5&#;&@F<@&U8<AP=&F@&P@h98:K:;&N:;h:F&<MQA9:F&9=;&98mFA9:F5

F"#$03E$?G8L<3E$J%0$E<R03$^^"$E%YR%<$J<GR6<0%_`$M3g<I%`$
8GEE<I%$l$03E$LG00%OE$YZE3E"

#8&Q?=9@F=&N@&9?@:9AG;&:;<@?A=?&@F<:K:&:>=<:N=&I&@8&K:88@<&<@;M:&^J@&9:PKA:?H&;@9@FA<:K:&
AN@:F&;J@R:F&I&8J9E:?&9=;<?:&8:&<b9;A9:&L?M:&I&P@9m;A9:5&#F<@&9:PKA=&Q?=9@N@&N@&NAR@?F=F&
8J>:?@F&IH&F=K?@&<=N=H&Q:?<@&N@&J;:&?@R=8J9AG;&9:FA&A;<@?A=?(&@8&K:A8:?M;&N@K@&N@&@DQ?@F:?F@&
9=;&8AK@?<:NH&9=;&<=N=&FJ&9J@?Q=&I&FA;&F=P@<@?F@&:&?@>8:F&^J@&8@&9=:?<@;5

a!

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

#;&8=F&9:PKA=F&@S@?9@&FJ&A;L8J@;9A:&@8&N@F9JK?APA@;<=&N@&8:F&N:;h:F&:L?=:P@?A9:;:F5&
3@?=&8:&>?:;&?@L=?P:&N@8&K:88@<&RA;=&:&<?:RbF&N@&8=F&;J@R=F&?JF=F5&1J?>@&@;&@F<:&;:9AG;&J;&
Q@?F=;:S@&9:FA&PM<A9=&1:@J:=*#=5J<=C:MH&^J@&@8@RG&N@&;J@R=&8:&N:;h:&:&:?<@&LJ;N:P@;<:85&
1J&88@>:N:&:&3:?MF&Q?=NJS=&J;:&:J<b;<A9:&?@R=8J9AG;H&9=;&=K?:F&9=P=&:%(P%1&)"$&5!J(+*5"&
$#3!5

VT+T_*-5>*@:G7@K5>*I:*#=5J<=C:MT

,A:>EA8@R & F@ & J;AG & 9=; & R:?A=F & 9=PQ:W@?=F & Q:?: & FJ & :R@;<J?:H & @;<?@ & @88=F & 8=F & QA;<=?@F&
)C:;58I@:*^:87=>&I&-:78*^5p>95&C=P@;hG&J;:&:9<AR:&RAN:&88@R:;N=&:&3:?MF&@8&:?<@&I&8:&
PUFA9:&?JF:F5&3=?&LA;H&:&Q:?<A?&N@&'6O_H&@;<?:&@;&?@8:9AG;&9=;&J;&S=R@;&9=?@G>?:L=&88:P:N=&
(=p<5=C*47p=8:&I&J;&S=R@;9MFAP=&K:A8:?M;H&P5>C5M*"=N=8>p=H&^J@&F@&EAh=&L:P=F=&Q=?&FJ&
@F<A8=&:<8b<A9=5&4:8<:K:&FG8=&8:&9=;<?AKJ9AG;&N@&=<?=F&PA<=F&N@&8:&N:;h:H &)885*35MC7M5& I&
'5K5@5 * n5@>5M=85& I & N@ & J; & >?:; & 9=PQ=FA<=?( &CJ7@ * 19@5M=8>p=5 & #; & '6O6 & ,A:>EA8@R&
=?>:;Ah:&8:&C=PQ:WM:&N@&8=F&K:88@<F&?JF=FH&^J@&F@&Q?@F@;<:&@;&@8&K"%,!3&87%,"$",&N@&3:?MF&
@;&P:I=H&A;A9A:;N=&8:&?@R=8J9AG;&N@&8:&N:;h:5&)=F&@8@P@;<=F&N@&8:&?@L=?P:&N@&8=F&K:88@<F&
?JF=F&8=F&Q=N@P=F&?@FJPA?&:FM(
! #F<JNA= & N@& <=N=F &8=F& N@<:88@F( & @F9@;:?A=H & QA;<=?@FH & PUFA9:H& N:;h:;<@F5 &"=N=F & F=;&
A>J:8@Fz&;A;>J;=&F@&QJ@N@&APQ=;@?&:&8=F&=<?=F5
! $=RAPA@;<=F&^J@&?@FQ=;N@;&:8&9:?m9<@?&N@&8:&PUFA9:&I&;=&:&8@I@F&Q?@@F<:K8@9AN:F&
Q=?&8:&N:;h:&98mFA9:5
! "=N=&@8&9J@?Q=&N@8&K:A8:?M;&N@K@&N@&<@;@?&@DQ?@FARAN:NH&N@FN@&8:&9:K@h:&:&8=F&QA@F5
! ,:;h:&I&>@F<=&E:;&N@&:SJF<:?F@&:&8:&:99AG;&N?:Pm<A9:5
! )=F&>?JQ=F&F=;&@F@;9A:8@F&I&;=&FG8=&=?;:P@;<:8@F5
):F & ;J@R:F & AN@:F & F@ & Q8:FP:?=; & @; & J;: & F@?A@ & N@ & ;J@R=F & K:88@<FH & <=N=F & @88=F & N@&
19@5M=8>p=( &6$ & 5SH%!3 & )" & ;."#3& c'6O6BH &T",!.17`%& c'6'!BH & I & F=K?@ & <=N= &0($
'+)2(,-('/>) $ 5. $ &( $ ;-/1(:.-(& c'6'VBH & 9JI= & @F<?@;= & =?A>A;G & J;: & :J<b;<A9: & K:<:88:&
9:PQ:85&#F=F&K:88@<F&Q?=NJS@?=;&J;&APQ:9<=&APK=??:K8@&@;&#J?=Q:&I&RA:S:?=;&Q=?&<=N=F&8=F&
Q:MF@FH&@;<?@&@88=F&#FQ:W:5

VTUT_*-:78=I*(5>>=8:*D*1:@J:*-=G5@T
%&Q@F:?&N@&8=F&bDA<=F&A;<@?;:9A=;:8@FH&8=F&`:88@<F&.JF=F&@F<JRA@?=;&FA@PQ?@&?=N@:N=F&N@&
Q?=K8@P:F&@;<?@&FJF&NAR=FH&I&,A:>EA8@R&EJK=&N@&LJ;N:?&@;&'6'Z&J;=F&;J@R=F&K:88@<F5&1@&
P:?9EG & +ASA;FAH &Q@?= &88@>:?m &=<?:&>?:;&@F<?@88:H &@8&S=R@;&K:A8:?M;&I&9=?@G>?:L= &-:78=I*
(5>>=8:H&^J@&K?A88:?m&9=;&8Jh&Q?=QA:&E:F<:&8=F&:W=F&9J:?@;<:5&1J&Q?AP@?&bDA<=&F@?m&T%!%)"H&
9=;&PUFA9:&N@&&@=p*159=:&I&NAF@W=F&9JKAF<:F&N@&3=A5>>75&#;&@F<:&bQ=9:&,A:>EA8@R&9?@:?m&:8&
P@;=F&=<?=&K:88@<&>@;A:8H&6$&13/'!"!3&)"&,!"1&5*+31H&9=;&PUFA9:&N@&(58E:C*I:*45CC55&C=;&
$:FFA;@& F@& 88@>G &:8 &K:88@< &FA;LG;A9=z &FJ&?@L=?P: &9=;FAF<@ &@;&^J@?@?&:89:;h:? &J;:&J;AG;&
:KF=8J<:&@;<?@&N:;h:&I&PUFA9:5&#F&@8&P=P@;<=&@;&^J@&8=F&>?:;N@F&QA;<=?@FH&9=P=&3=A5>>7H&
#5CHH&(=@?H&?@:8Ah:;&@F9@;=>?:LM:F&Q:?:&@F<=F&K:88@<F5
*<?=F&N=F&>?:;N@F&;=PK?@F&N@8&K:88@<&@F<m;&J;AN=F&:&8=F&U8<AP=F&:W=F&N@&=F&K:88@<F&
?JF=FH&@8&K:A8:?M; &1:@J:*-=G5@H&^J@&F@&9=;RA@?<@&@;&@F<?@88:&N@8&9=;SJ;<=&@;&'6!VH&9=;&
@F<?@;=F & <:; & LJ;N:P@;<:8@F&9=P= &>53$3&E&$%1 &/.1%1H&N@ &19@5M=8>p=H&I&@8&@F9@;G>?:L=&
0:7@J:*^5C58A<=8:H&E=PK?@&PmF&@;?:Ah:N=&@;&8:&PUFA9:&98mFA9:&I&^J@&F@?m&@8&QJ@;<@&
@;<?@&.JFA:&I&+=?<@:Pb?A9:H&N=;N@&N@F:??=88G&8:&P:I=?&Q:?<@&N@&FJ&9:??@?:5&,=F&N@&FJF&
>?:;N@F&9?@:9A=;@F&F=;H&8:&9A<:N: &>53$3&E&$%1&/.1%1& I &6$&+%(,3&)"$&!.*1"\3!H&:PK:F&N@&
1<?:RA;FA5

aV

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

VTVT_*.9@7>*@:G7@K5I7@:>T

$>5I7@5*#E8A58&c'a_a7'6!_BH&<JR=&8:&<?:F9@;N@;9A:&N@&88:P:?&8:&:<@;9AG;&F=K?@&J;:&
;J@R:&L=?P:&N@&E:9@?&K:88@<H&^J@&F:9JNAG&N@&P:;@?:&FJF<:;9A:8&@F<@&:?<@&9=P=&8=&E:?m;&8=F&
;J@R=F&?JF=F5&#F&8:&Q?AP@?:&K:A8:?A;:&P=N@?;:H&@;&F@;<AN=&@F<?A9<=z&N@F:??=88:&L=?P:F&N@&
N:;h:&8AK?@H&KJF9:;N=&P=RAPA@;<=F&PmF&@FQ=;<m;@=F5&%<:9:&8:&N:;h:&:9:NbPA9:H&@8&K:A8@&
F=K?@& 8:F & QJ;<:F&N@&8=F&QA@FH&8:F&Q=FA9A=;@F&:;<A;:<J?:8@FH&AK@?:&:&8=F&N:;h:?A;@F&N@&8:F&
R@F<AP@;<:FH&P:88:FH&h:Q:<A88:F&N@&?:F=H&@<95
(5@D * b=JK58& c'aa]7'6_VBH & 9?@:N=?: & N@8 & K:88@< & @DQ?@FA=;AF<:5 & 3:?<@ & <:PKAb; & N@&
;J@R=F&Q?A;9AQA=F(&A;L8J@;9A:&N@&8:F&N:;h:F&N@&8=F&Q?APA<AR=FH&N@&8=F&QJ@K8=F&=?A@;<:8@F&IH&
F=K?@&<=N=H&:NRA?<A@;N=&8:&FA<J:9AG;&N@&9?AFAF&^J@&RAR@&#J?=Q:&@;<?@&>J@??:FH&?@9=>@&@;&@8&
K:88@<&:FQ@9<=F&N@&L@MFP=&I&8=&P:9:K?=H&^J@&;=&F@&E:KM:;&JF:N=&E:F<:&@;<=;9@F5&3?=NJ9@&
J;:&N:;h:&<@??@;:8H&PJI&:Q@>:N:&:8&FJ@8=5

N"#$0G$JGIhG$83J%YIG"
f;:&;J@R:&9:QA<:8&N@&8:&N:;h:&FJ?>@&@;&%Pb?A9:H&I&9=;9?@<:P@;<@&@;&+J@R:&2=?5&2:&:&
9=PA@;h=F&N@8&FA>8=&[[&E:KM:;&F=K?@F:8AN=&N=F&;=PK?@F&APQ=?<:;<@FH&"@N&1E:l;&I&.J<E&
1<5 & ,@;AFH & ^J@ & <JRA@?=; & 9=;<A;J:9AG; & @; & J;: & F@?A@ & N@ & K:A8:?A;@F & ;:9AN=F & @;<?@ & 8:F & N=F&
>J@??:F& PJ;NA:8@F5&f;=&N@&@88=F&@F &(:@A:*%E88=8J<5KH&^J@&L=?P:&FJ&9=PQ:WM:& @;&
'6Z!H&PJI&?@8:9A=;:N:&9=;&@8&9=PQ=FA<=?&N@&R:;>J:?NA:&R7<8*%5J:H&:8&^J@&9=;=9AG&@;&8:&
C=?;AFE&19E==8&N@&1@:<<8@5&C:>@&@;F@W:K:&:&FJF&:8JP;=F&:&9?@:?&FJ&Q?=QA:&PUFA9:&9=;&
A;F<?JP@;<=F&N@&Q@?9JFAG;H&I&N@&b8&:N^JA?AG&$@?9@&J;:&;J@R:&RAFAG;&N@&8:&?@8:9AG;&@;<?@&
PUFA9:&I&N:;h:5&*<?:&?@L=?P:N=?:&@F&8:&<:PKAb;&;=?<@:P@?A9:;:&(5@9<5*0@5<5K&c'a6X7
'66'BH&^J@&@;&'6!_&LJ;N:&FJ&Q?=QA:&9=PQ:WM:&^J@&<@;N?m&J;&Q@F=&APQ=?<:;<@&@;&8:&N:;h:&
N@8&FA>8=&[[5&1A;&F:8A?;=F&N@&#F<:N=F&f;AN=FH&)@9<E@*(=9A<:CC&c'6VXBH&LJ;NG&@;&T:?8@P&
8:&Q?AP@?:&9=PQ:WM:&N@&N:;h:&@D98JFAR:P@;<@&N@&;@>?=F5
#;&#J?=Q:&FJ?>A@?=;&;J@R:F&@F9J@8:F&N@&K:88@<&9=;&N:;h:?A;@F&N@&Q?AP@?:&9:8AN:Nz&:FMH&
@; & /;>8:<@??: &(5@J79 * 4789:D8z & @; & .JFA: &/EI7CG * "E@:D:M& c'6Va7'66VBz & :PK=F&
L=?P:?=;&8:&Q:?@S:&N@&N:;h:&PmF&L:P=F:&N@8&PJ;N=&NJ?:;<@&8:&Nb9:N:&N@&8=F&:W=F&F@F@;<:5&
#;&4?:;9A:&N@F<:9G&/7C58I*3:9=9H&9=?@G>?:L=&I&K:A8:?M;&^J@&<:PKAb;&E:KM:&L=?P:N=&Q:?@S:&
9=;&$:?>=<&4=;<@I;5&
f;&8J>:?&@FQ@9A:8&P@?@9@&=<?=&L?:;9bF&;:9AN=&@;&$:?F@88:&@;&'6!_H&(5E@=A:*^:N5@9&9=;&
J;:&Q@?F=;:8AN:N&Pm>A9:&@;&FJF&P=RAPA@;<=FH&FJF&=S=F&I&FJ&F=;?AF:5&`:A8G&9=P=&F=8AF<:&@;&
8: &9=PQ:WM:&N@&.=8:;N&3@<A<5 &1J&Q?AP@?:&9=?@=>?:LM: &APQ=?<:;<@&LJ@ &4*(;3(J% &5%!% &.(&
73/'!"&13$3H&^J@&<JR=&>?:;&bDA<=5&#;&'6]O&F@&@F<:K8@9AG&@;&`?JF@8:FH&N=;N@&LJ;NG&J;:&
9=PQ:WM:&@F<:K8@&^J@&88:PG&`:88@<&N@8&FA>8=&[[5&Y:?A:F&N@&FJF&9=?@=>?:LM:F&PmF&L:P=F:F&
8=&E:;&FAN=&Q:?:&PUFA9:&N@&FJ&9=PQ?:<A=<:&3A@??@&`=J8@hH&9=;&@8&^J@&E:&9=8:K=?:N=&@;&
?@Q@<AN:F&=9:FA=;@F5

a"#$0G$JGIhG$%ECGn30G"
):&Q?@F@;9A:&N@&#FQ:W:&@;&8:&EAF<=?A:&N@&8:&N:;h:&@J?=Q@:H&A;A9A:N:&:&9=PA@;h=F&N@8&FA>8=&
[/[H&9=;<A;U:&@;&@8&FA>8=&[[5&#;&8=F&Q?AP@?=F&:W=F&N@&@F<@&FA>8=&8:&A;L8J@;9A:&N@8&L8:P@;9=&
F@&E:9@&FJF<:;9A:8H&I&9=PA@;h:&:&A;<@>?:?F@&@;&J;&Q@9J8A:?&9=;9@Q<=&N@&N:;h:&@FQ:W=8:H&J;:&
N:;h:&FAPA8:?&:&8=F&>?:;N@F&K:88@<F&@J?=Q@=F5&)=F&9:PKA=F&F@&QJ@N@;&@F^J@P:<Ah:?&:FM(
! ): & N:;h: & L8:P@;9: & QA@?N@ & FJ & 9:?m9<@? & A;NARANJ:8 & I & 8AK?@H & I & F@ & @;?A^J@9@ & 9=;&
@8@P@;<=F & 9J8<=F & N@?AR:N=F & N@8 & K:88@< & 98mFA9= & I & P=N@?;=H & 9=P= & 8=F & Q:F=FH & 8:&
@F9@;=>?:LM:H&8:&8JhH&@<95
! ):&>JA<:??:&@F&FJF<A<JAN:&Q=?&8:&=?^J@F<:5
aX

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

%Q:?@9@&@8&:?>JP@;<=&9=P=&@;&8=F&>?:;N@F&K:88@<F5

#8&:J>@&N@&@F<@&<AQ=&N@&N:;h:H&9=P=&E@P=F&F@W:8:N=H&F@&N:&@;&8=F&Q?AP@?=F&:W=F&N@8&
FA>8= & [[ & IH & F=K?@ & <=N=H & : & Q:?<A? & N@ & 8: & ?@R=8J9AG; & ^J@ & FJQJF= &6$ & %/3! & '!.H3& N@ & 4:88:5&
,A:>EA8@RH&@P=9A=;:N=&Q=?&@F<@&K:88@<H&@;9:?>:&:&4:88:&=<?=&I&:FM&FJ?>@&6$&13/'!"!3&)"&,!"1 &
5*+315
% & Q:?<A? & N@ & @F<@ & P=P@;<=H & ;JP@?=F=F & 9=PQ=FA<=?@F & N@ & 8: & 0@;@?:9AG; & N@8 & !_&
9=PQJFA@?=; & K:88@<F( &0E>95M7 * 3=995CEJ5H &A% & !3/"!J% & )" & $31 & +3!(.)31z &&@8:>97*
Z5CGG9:@H&43(%,*(%z&FJ&E@?P:;=&/7I7CG7*Z5CGG9:@H&:3(&A*()3&)"&>$/"!J%H&@<95&+=&FG8=&
@F<=5&%FM&9=P=&E@P=F&NA9E=&^J@&8:&GQ@?:&;=&A;<@?@FG&:&@F<:&>@;@?:9AG;H&@;&9:PKA=&@8&K:88@<&
9=;F<A<JI@ & J;: & N@ & FJF & Q?=NJ99A=;@F & PmF & N@F<:9:N:F5 & #F<: & @98=FAG; & 9=A;9AN@ & 9=; & 8:&
:Q:?A9AG;&N@&PM<A9:F&LA>J?:F&N@&8:&N:;h:H&9=P=&-5*)@J:89=85H&-5*)@J:89=8=95&I&P=A:89:*
&>AEI:@75&$=N@?;:P@;<@&E:;&FJ?>AN=&=<?=F&N=F&>@;A=F&N@&8:&N:;h:(&)8978=7&I&)8978=7*
05I:>5

aZ

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

'&() * +W, * -) * (a1$%) * #&- * 1$0-. * YY * Z)1') * -) * Uz*

0O&//)*(O"#$)-T
'5&/+".*,fCC/\+5
!5&#)&/$3.#1/*+/1$*5
!5'&,@LA;A9AG;5&
!5!&C:?:9<@?MF<A9:F5
!5V&3?A;9AQ:8@F&?@Q?@F@;<:;<@F
V5&#)&#[3.#1/*+/1$*5
V5'&,@LA;A9AG;5&
V5!&C:?:9<@?MF<A9:F&I&?@Q?@F@;<:;<@F5
X5&,*,#C%4*+/1$*5
X5'&,@LA;A9AG;5
X5!&3?A;9AQ:8@F&?@Q?@F@;<:;<@F&I&=K?:F
Z5&+#*C)%1/C/1$*
Z5'&,@LA;A9AG;
Z5!&3?A;9AQ:8@F&?@Q?@F@;<:;<@F&Q=?&Q:MF@F5
]5&#13%o%

!"$<IOY3JZ??<[I

#8&FA>8=&[[&@F&FMPK=8=&N@&P=N@?;AN:N5&+JP@?=F=F&:R:;9@F&<@9;=8G>A9=F&F@&&?@:8Ah:;&
:&8=&8:?>=&N@&FJF&Nb9:N:F5&1@&P@S=?:;&8:F&9=PJ;A9:9A=;@FH&8=F&P@NA=F&N@&<?:;FQ=?<@555H&Q@?=&
;=&<=N=&F@?m&Q=FA<AR=5
):&@;<?:N:&:8&;J@R=&FA>8=&88@;G&N@&=Q<APAFP=&:&8:&Q=K8:9AG;&N@8&P=P@;<=H&Q@?=&@F<@&
@F<:N=&@JLG?A9=&NJ?G&Q=9=5&):F&N=F&0J@??:F&$J;NA:8@F&I&8:F&9=;F@9J@;9A:F&N@8&?b>AP@;&
;:hA & P:?9:?=; & 8: & Q?AP@?: & PA<:N & N@ & FA>8= & N@S:;N= & @F9:8=L?A:;<@F & 9AL?:F & N@ & PJ@?<=F & I&
N@F:F<?@F&@9=;GPA9=F5&#FQ:W:&Q=?&=<?:&Q:?<@&<:PKAb;&<JR=&FJF&Q?=QA=F&Q?=K8@P:F&^J@&8:&
88@R:;&:&J;:&>J@??:&9ARA85
,J?:;<@ & 8:F & bQ=9:F & :;<@?A=?@F & ^J@ & E@P=F & @F<JNA:N=H & E:KM: & J;:F & 9:?:9<@?MF<A9:F&
98:?:F&^J@&N@LA;M:;&@8&:?<@&I&8:&PUFA9:&N@8&P=P@;<=H&FA;&@PK:?>=&@;&@8&F5&[[&8:&Q?A;9AQ:8&
9:?:9<@?MF<A9:&@F&8:&Q8J?:8AN:N&N@&@F<A8=F&I&<@;N@;9A:F&:?<MF<A9:F5&+=&@DAF<@&J;&@F<A8=&U;A9=H&;A&
FA^JA@?:&@;&J;&PAFP=&9=PQ=FA<=?5
)=F&:?<AF<:F&F@&Q?@>J;<:;&9GP=&N@K@&F@?&@8&:?<@H&^Jb&@F&8=&K@88=555&T:I&J;:&KUF^J@N:&
9=;F<:;<@&N@&8=&;J@R=H&J;&A;<@?bF&Q=?&8:&@DQ@?AP@;<:9AG;&9:N:&R@h&P:I=?&9=;L=?P@&:R:;h:&
@8&FA>8=5&1@&?=PQ@&:FM&9=;&8=F&Q?A;9AQA=F&@F<b<A9=F&:;<@?A=?@F5
#;<?@&8:&NAR@?FAN:N&N@&<@;N@;9A:F&N@8&F5&[[&R:P=F&:&@F<JNA:?&@;&@F<@&<@P:&J;:F&
9J:;<:F&@;<?@&8:F&^J@&F@&@;9J@;<?:;&@8&/PQ?@FA=;AFP=H&#DQ?@FA=;AFP=H&,=N@9:L=;AFP=&I&
+@=98:FA9AFP=5

7"$%0$<8CY%E<3I<E83
UT+T_*#:G=8=A=?8
#8&/PQ?@FA=;AFP=&@F&:;<@&<=N=&J;:&9=??A@;<@&QA9<G?A9:&^J@&FJ?>@&@;&4?:;9A:&I&N@&:EM&
N@K@P=F & Q:?<A? & Q:?: & @;<@;N@? & FJ & FA>;ALA9:N=5 & 1JQJF= & J;: & ?JQ<J?: & 9=; & 8: & QA;<J?:&
<?:NA9A=;:85&)=F&QA;<=?@F&APQ?@FA=;AF<:F&A;<@;<:;&9:Q<:?&@;&@8&8A@;h=&;=&8:&?@Q?@F@;<:9AG;&
@D:9<: & N@& 8:F&9=F:F&FA;=& 8:F &APQ?@FA=;@F&P=P@;<m;@:F& ^J@&@8&:?<AF<: &<A@;@ &N@&@88:F5 &1@&
?@9E:h:;&8=F&<@P:F&E@?=A9=F&:;<A>J=F&I&E:I&>?:;&A;<@?bF&Q=?&=<?=F&9=;FAN@?:N=F&<?ARA:8@F(&
P=P@;<=F&N@&=9A=H&@F9@;:F&@;&9:LbFH&<@:<?=F555&1A@PQ?@&F@&KJF9:&8=&P=P@;<m;@=H&@8&:E=?:5
): & PUFA9: & APQ?@FA=;AF<: & ;= & <?:<: & N@ & @DQ?@F:? & F@;<APA@;<=F & ;A & N@ & ?@8:<:? & J;&
a]

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

:?>JP@;<=H&FA;=&N@&:M7A5@*E8*AC=K5B*>EJ:@=@*E85*59K?>G:@55&1@&K:F:&@;&8:&:8JFAG;&I&
@8&F=K?@@;<@;NAN=&Q=?&P@NA=&N@&P@8=NM:FH&:?P=;M:FH&<APK?@FH&?A<P=F&I&Q?A;9AQA=F&L=?P:8@F&
?:NA9:8P@;<@ & NAF<A;<=F & : & 8: & <?:NA9AG; & ?=Pm;<A9: & FA@;N= & J;: & PUFA9: & PJ9E= & PmF & FJ<A8 & I&
@<b?@:5

UTU*%5@5A9:@H>9=A5>
!

&/;L8J@;9A:F&P=N:8@F&(&)=F&9=PQ=FA<=?@F&FA@;<@;&^J@&E:;&:>=<:N=&8:F&Q=FAKA8AN:N@F&N@&
8:&@F9:8:&P:I=?&I&P@;=?&Q=?&8=&^J@&KJF9:;&A;FQA?:9AG;&@;&8=F&P=N=F&P@NA@R:8@FH&
F=K?@&<=N=&@8&L?A>A=&I&8ANA=5&fF:;&A;<@?R:8=F&N@&XtH&ZtH&at&@;&P=RAPA@;<=&Q:?:8@8=&8=&
9J:8&N=<:&:&8:&PUFA9:&N@&J;&9:?m9<@?&:?9:A9=5

&/;<@?bF&Q=?&8=&=?A@;<:8& H&8=&@DG<A9=H&8=&9J:8&8@&88@R:&&:8&JF=&N@&=<?:F&@F9:8:F&9=P=&Q=?&
@S@PQ8=&8:&@F9:8:&Q@;<:<G;A9:5

&C:PKA=F & @; & 8: & :?P=;M:&(& #8 & :9=?N@ & F@ & 9=;FAN@?: & J;: & @;<AN:N & A;N@Q@;NA@;<@ & I & 8:&
:<?:99AG; & E:9A: & 8: & <G;A9: & F@ & N@KA8A<:5 &): & <=;:8AN:N & @;<?: & @; & 9?AFAF5& T:I & 9A@?<:&
<@;N@;9A:&E:9A:&8:&@P:;9AQ:9AG;&N@&8:&NAF=;:;9A:5&#PQ8@=&9=PU;&N@&;=<:F&Q@N:8@F&
9=;FA>JA@;N=&<=N=&<AQ=&N@&@L@9<=F

&C:PKA=F & =?^J@F<:8@F&( &1@ & KJF9:; & ;J@R:F & F=;=?AN:N@F & I & Q=? & @F= & F@ & A;<?=NJ9@;&
A;F<?JP@;<=F&:;<@F&Q=9=&J<A8Ah:N=F&9=P=&@8&:?Q:H&Q:?:&9=;F@>JA?&NAF<A;<=F&@L@9<=F&
<MPK?A9=F5&):&=?^J@F<:&F@&J<A8Ah:&:&R@9@F&Q=?&Q8:;=F&F=;=?=F5

&,AF<A;<=&9=;9@Q<=&N@&?A<P=&( &T:I&9A@?<:&<@;N@;9A:&:&=9J8<:?&@8&9=PQmFH&L=?Pm;N=F@&
@; &8:& PUFA9:&APQ?@FA=;AF<: &J;&L8JA?&9=;<A;J=&N=;N@&:&R@9@F&;=&@F&Lm9A8&F@>JA?&@8&
QJ8F=5

UTV*3@=8A=L5C:>*@:L@:>:89589:>
!

C)%f,# & ,#`f112(& .@FQ=;F:K8@ & N@ & 88@R:? & @8 & @F<A8= & APQ?@FA=;AF<: & : & FJF & U8<AP:F&
9=;F@9J@;9A:F5&%&Q:?<A?&N@&'a6X&@;9=;<?:P=F&=K?:F&N@;<?=&N@&@F<@&@F<A8=&9=P=&F=;&
T!"$.)*3&%&$%&1*"1,%&)"&.(&;%.(3H&FJF&?3+,.!(31&Q:?:&=?^J@F<:&=&FJ&GQ@?:&T"$$"%1&E&
D"$*1%()"5 & $JI & APQ=?<:;<@F & F=; & FJ & ;JP@?=F:F & =K?:F & Q:?: & QA:;=( &T!"$.)*31H&
61,.)*31H&=&FJ&4.*,"&9"!#%/%10."Z

$%f./C#&.%Y#)(&%J;^J@&@F&=<?=&98:?=&?@Q?@F@;<:;<@&N@8&/PQ?@FA=;AFP=H&FJ&=K?:&
Q?@F@;<:&>?:;&R:?A@N:N&I:&^J@&.:R@8&:KF=?KAG&AN@:F&N@&<=N:F&Q:?<@FH&A;98JIb;N=8:F&
@; & FJ & @F<A8=5 & 0?:; & =?^J@F<:N=?H & N@F<:9:; & FJF & =K?:F & 9=P= &A% & 2%$1"& = & @8 & L:P=F=&
93$"!35&*?^J@F<G&=K?:F&N@&=<?=F&9=PQ=FA<=?@F&9=P=&8.%)!31&)"&.(%&"=531*+*I(&N@&
$JFF=?>FI&I&=<?:F&FJI:F&Q?=QA:F&@;&Q?A;9AQA=&Q:?:&QA:;=&9=P=&M%15%!&)"&$%&(3+7"&
= &T%<%(%&5%!%&.(%&*(;%(,%&)*;.(,%5&":PKAb;&N@F<:9:&FJ&=K?:&Q:?:&QA:;=&9=;&FJ&
83(+*"!,3&5%!%&5*%(3&=&83(+*"!,3&5%!%&$%&/%(3&*P0.*"!)%&9=;&A;L8J@;9A:F&N@8&S:hh5

F"$%^CY%E<3I<E83
VT+*#:G=8=A=?8

f;:&N@&8:F&9:?:9<@?MF<A9:F&P:F&APQ=?<:;<@F&N@&8:&PUFA9:&N@8&15&[[&@F&@8&:K:;N=;=&N@&
8=F&Q?A;9AQA=F&<=;:8@F&@;&KJF9:&N@&=<?=F&8@;>J:S@F&N@&@DQ?@FAG;5&#F<:&<@;N@;9A:&:Q:?@9@&
N@;<?=&N@&8:&9=??A@;<@&@DQ?@FA=;AF<:5
,@&;J@R=&@8&@DQ?@FA=;AFP=&;:9AG&@;&@8&9:PQ=&N@&8:&QA;<J?:H&@F<:&R@h&@;&%8@P:;A:5&
)=F & @DQ?@FA=;AF<:F& QA@;F:; & ^J@ & @8 & :?<@& N@K@ & ?@L8@S:?& @8 & qI= &A;<@?;=r & N@ & FJ& 9?@:N=?H & FJF&
F@;<APA@;<=F&Q@?F=;:8@F&E:9A:&8:&=K?:H&8=&9J:8&88@R:&:8&JF=&N@&8:&P=NALA9:9AG;&N@&8:&?@:8AN:N&
Q=?&P@NA=&N@&8:&@D:>@?:9AG;&I&8:&NAF<=?FAG;5&1@&?@9E:h:?m&Q=?&8=&<:;<=&<=N=&8=&^J@&E:F<:&@8&
a_

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

P=P@;<=&F@&E:&9=;FAN@?:N=&E@?P=F=5
#;&PUFA9:&@F<@&?@9E:h=&Q?=NJ9@&;J@R:F&9=;9@Q9A=;@F&N@&P@8=NM:H&:?P=;M:H&?A<P=555H&
?@;J;9A:;N=&:&8=F&9?A<@?A=F&9=;R@;9A=;:8@F&N@&8=&K@88=5

VTU*%5@5A9:@H>9=A5>*D*@:L@:>:89589:>
!
!
!

%8&?@9E:h:?F@&8:F&;=?P:F&N@&8:&<=;:8AN:N&I:&;=&E:I&NAL@?@;9A:&@;<?@&9=;F=;:;9A:&I&
NAF=;:;9A:& I & Q=? & FJQJ@F<= & ;= & F@ & FA>J@; & 8:F & ;=?P:F & Q:?: & 8: & ?@8:S:9AG; & N@ & @F<:F&
NAF=;:;9A:F5&
):&PUFA9:&@DQ?@FA=;AF<:&@F&:<=;:8&I&F@?m&J;:&PUFA9:&88@;:&N@&<@;FAG;5
,@F<:9:?m & @8 &9:;<=& N=;N@ & F@ & NAF<=?FA=;: & N@8AK@?:N:P@;<@ & 8: & :9@;<J:9AG; & N@ & 8:F&
Q:8:K?:F & cA>J:8 & ^J@ & 8=F & QA;<=?@F & NAF<=?FA=;:; & 8=F & <?:h=FH & 8:F & LA>J?:F555B5 & #8 & 9:;<=&
@DQ?@FA=;AF<:&@F&9=;=9AN=&9=P= &FQ?@9E>@F:;>H& I&F@&@;9J@;<?:&:&PA<:N&N@&9:PA;=&
@;<?@&@8&9:;<=&I&@8&E:K8:5
%8&A>J:8&^J@&=9J??M:&9=;&8:&PUFA9:&APQ?@FA=;AF<:H&:^JM&E:I&J;:&KUF^J@N:&N@&;J@R=F&
<APK?@F&I&F=;=?AN:N@F5&1@&SJ@>:&9=;&@F<=&:&;AR@8&=?^J@F<:85

)=F & P@S=?@F&?@Q?@F@;<:;<@F&N@&@F<@&@F<A8= &F=; &:8>J;=F&N@&8=F&9=PQ=;@;<@F&N@& 8:&

1@>J;N:&#F9J@8:&N@&YA@;:(
! %.+*),&1CT+`#.0H& Q?A;9AQ:8&LA>J?:5 &*K?:F&@;&@F<@&@F<A8=&F@?m&FJ &4*(;3(J%&)"&
8S/%!% & 35Z & i& = & FJ & A;9=;LJ;NAK8@ &T*"!!3, & A.(%*!"& N=;N@ & F@ & JF: & @8 & ;=PK?:N=&
1Q?@9E>@F:;>5
! %)`%+ & `#.0& LJ@ & :8JP;= & N@ & 19E;K@?>5 & ,@F<:9:; & FJF & GQ@?:F &[3PP"+`& I &A.$LH&
=K?:F&@DQ?@FA=;AF<:F&:J;^J@&9=;&:8>U;&@8@P@;<=&N=N@9:LG;A9=5
C=P= & @F & N@ & AP:>A;:?H & @8 & QUK8A9= & ;= & :9@Q<G & @; & FJ & P=P@;<= & @F<@ & <AQ= & N@ & =K?:F5&
CJ:;N= & 8=F & @FQ@9<:N=?@F & AK:; & : & J; & 9=;9A@?<=H & N@P:;N:K:; & 8: & 9=PQ?@;FAG; & N@ & 8= & ^J@&
@F9J9E:K:;&Q@?=&8=F&?@9J?F=F&J<A8Ah:N=F&@?:;&<:;&A;;=R:N=?@F&^J@&@8&QUK8A9=&?@9E:hG&@;&J;&
Q?A;9AQA=&8:&PUFA9:&:<=;:85&"=N:RM:&E=I&@;&NM:&FA>J@&E:KA@;N=&>?:;&?@9@8=&E:9A:&@F<@&<AQ=&
N@&=K?:F5

N"$J3J%?GM3I<E83
WT+*#:G=8=A=?8

#8&:K:;N=;=&N@&8:&<=;:8AN:N&<?:M:&9=P=&9=;F@9J@;9A:&^J@&F@&N@KM:&@;9=;<?:?&J;&
Q?=9@F= & N@ & 9=PQ=FA9AG; & ^J@ & 8= & FJF<A<JI@?:5 & 1@ & ;@9@FA<:K: & J; & P@9:;AFP= & N@ & ?@9:PKA=5&
19E;K@?> & F@& NA= &9J@;<: & N@& ^J@& @8 &:<=;:8AFP= & @?: &8APA<:N= &:FM &@ &A;<@;<G & @;9=;<?:? & J;&
FAF<@P:&9=E@?@;<@5&1J?>@&:FM&@8&,=N@9:L=;AFP=5
#8&,=N@9:L=;AFP=&@F&J;&FAF<@P:&N@&9=PQ=FA9AG;&K:F:N=&@;&@8&JF=&N@&8:F&&'!&;=<:F&N@&
8:&@F9:8:&9?=Pm<A9:&^J@&F@&=?>:;Ah:;&@;&F@?A@F&F@>U;&@8A>@&@8&9=PQ=FA<=?5&+=&E:I&S@?:?^JM:&
@;&8:F&F@?A@F&N@&F=;AN=F5&"=N=F&<A@;@;&8:&PAFP:&APQ=?<:;9A:5&):F&F@?A@F&<A@;@;&FA@PQ?@&'!&
F=;AN=F&JF:N=F&9=;&>?:;&8AK@?<:N&:J;^J@&;=&F@&QJ@N@&?@Q@<A?&;A;>J;=&N@&@88=F&E:F<:&^J@&;=&
E:;&FAN=&J<A8Ah:N=F&<=N=F5

WTU*3@=8A=L5C:>*@:L@:>:89589:>*D*7F@5>
)=F & PmF & APQ=?<:;<@F & ?@Q?@F@;<:;<@F & N@8 & N=N@9:L=;AFP= & F=; & 8=F & I: & ;=PK?:N=F&
9=PQ=FA<=?@F&N@&8:&1@>J;N:&#F9J@8:&N@&YA@;:5
!

%.+*),&1CT+`#.0& N@F<:9G&9=;&FJF &j&5*"P%1&5%!%&5*%(3& I &2%!*%+*3("1&5%!% &

3!0."1,% & 35Z & klZ &): & =K?: & P:F & 9:?:9<@?MF<A9: & N@ &%8K:; & `@?>& @; & @F<@ & @F<A8= & @F & FJ&
aa

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

83(+*"!,3&5%!%&<*3$J(Z
!

%+"*+&g#`#.+&LJ@&<:PKAb;&:8JP;=&N@&19E;K@?>5&4J@&^JA@;&PmF&@DQ@?AP@;<G&
N@;<?= &N@8&8@;>J:S@&N=N@9:LG;A9=5&,@F<:9:;&FJ &83(+*"!,3&5%!% &i&*(1,!./"(,31 &I&
4*(;3(J%&35Z&mlZ

a"$I%3?0GE<?<E83
XT+*#:G=8=A=?8
C=??A@;<@ & ^J@ & FJ?>@ & @; & #J?=Q: & :8?@N@N=? & N@ & 8=F & :W=F & !O & 9=P= & ?@:99AG; & :8&
APQ?@FA=;AFP=H&@DQ?@FA=;AFP=555&C=;FAF<@&@;&?@RARA?&I&R=8R@?&:&J<A8Ah:?&9A@?<=F&Q?A;9AQA=F&
:?<MF<A9=F & K:??=9=F & I & 98mFA9=F & ^J@ & E:KM:; & FAN= & :K:;N=;:N=F & 9J:;N= & 88@>G & 8: & 9=??A@;<@&
?=Pm;<A9:&@;&@8&1A>8=&[/[5
#; & @F<@ & @F<A8= & <A@;@; & >?:;& APQ=?<:;9A: & 8=F& Q?A;9AQA=F& L=?P:8@F & I& 8: & KUF^J@N: & N@&
9A@?<=&@^JA8AK?A=&I&=?N@;&@;&8:F&9=PQ=FA9A=;@F5
%?PG;A9:P@;<@&F@&RJ@8R@&:&JF:?&8:&<=;:8AN:N&:J;^J@&8=F&9=PQ=FA<=?@F&F@&Q@?PA<@;&
9A@?<:F&8AK@?<:N@F&^J@&NAL@?@;9A:;&8:F&=K?:F&+@=98mFA9:F&N@&8:F&:J<b;<A9:P@;<@&K:??=9:F&=&
98mFA9:F5&#F<:F&8AK@?<:N@F&;=&FG8=&:Q:?@9@;&@;&8:&:?P=;M:&FA;=&<:PKAb;&@;&@8&?A<P=5
/;NJN:K8@P@;<@ & F@ & KJF9: & @8 & :K:;N=;= & N@ & 8: & 9=PQ8@SAN:N & I & @8 & 9=;<?:F<@ & N@ & 8:F&
:;<@?A=?@F&9=??A@;<@F&9=P=&@8&N=N@9:L=;AFP=5

XTU*3@=8A=L5C:>*@:L@:>:89589:>*L7@*L5H>:>

C=P= & E@P=F & NA9E=H & @F<: & 9=??A@;<@& F@ & NALJ;NAG & Q=? & <=N: & #J?=Q: &I & @;& 9:N: & 8J>:?&
A;L8JA?m;&8:F&9:?:9<@?MF<A9:F&Q?=QA:F&N@&8=F&NAF<A;<=F&Q:MF@F(
%7&4.%+C/%
`:S= & 8: & A;L8J@;9A: & N@8 & PUFA9= &#?A & 1:<A@H & N@F<:9: & N@;<?= & N@8 & +@=98:FA9AFP= & @8&
88:P:N= &0?JQ= & N@ & 8=F & 1@AFH & F=K?@ & <=N= & 8=F & 9=PQ=FA<=?@F &4?:;9AF & 3=J8@;9& 9=; & FJF&
D3<*/*"(,31&T"!5",.31&Q:?:&QA:;=&I&,:?AJF&$A8E:JNH&^J@&LJ@&9=;=9AN=&Q=?&FJF&K:88@<F&A%&
8!"%+*I( & )"$ & D.()3& c9=; & A;L8J@;9A:F & N@8 & S:hhB & I &6$ & 9."E & 13'!" & "$& ,"H%)3& c9=;SJ;<= & N@&
N:;h:F&K:F:N:F&@;&PUFA9:&K?:FA8@W:B5
`7&%)#$%+/%
%^JM&E:I&J;:&<=<:8&A;<@;9AG;&N@&FAPQ8ALA9:?&8:&PUFA9:&Q:?:&:FQA?:?&:&FJ&9=PQ?@;FAG;&
Q=?&Q:?<@&N@&8:F&P:F:F5&1J?>@&:FM&@8&9=;9@Q<=&N@&$UFA9:&f<A8A<:?A:H&J;:&PUFA9:&^J@&QJ@N:&
F@?&NAFL?J<:N:&<:;<=&Q=?&Q?=L@FA=;:8@F&9=P=&Q=?&:LA9A=;:N=F5&1@&N@LA@;N@&8:&AN@:&N@&^J@&8:&
PUFA9:&<A@;@&P:I=?&F@;<AN=&FA&:N@PmF&N@&@F9J9E:?F@&QJ@N@&F@?&A;<@?Q?@<:N:5&1@&Q?@<@;N@&
:FM&?@NJ9A?&8:&NAF<:;9A:&@;<?@&@8&9=PQ=FA<=?&I&@8&QUK8A9=5
#; & K:F@ & : & @F<:F & AN@:F & @F9?AK@; & FJF & =K?:F & APQ=?<:;<@F & 9=PQ=FA<=?@F & 9=P= &3:J8&
TA;N@PA<E& 9=;&FJ&GQ@?:&I&N@FQJbF&FA;L=;M: &D%,J%1&6$&T*(,3!H& &C:?8&*?LLH&>?:;&Q@N:>=>=&
PJFA9:8&I&NA?@9<=?&N@&=?^J@F<:&:Q:?<@&N@&9=PQ=FA<=?H&9=;&FJ&9=;=9AN=&8%!/*(%&9.!%(%H&=&
iJ?<&g@A885
C7&.f1/%
#; & .JFA: & @8 & +@=98:FA9AFP= & F@ & R@ & A;L8JAN= & Q=? & 8:F & 9A?9J;F<:;9A:F & Q=8M<A9:F5 & #8&
.@:8AFP=&1=9A:8AF<:&=K8A>:&:&8=F&:?<AF<:F&:&F@>JA?&J;:F&NA?@9<?A9@F&Q:?:&^J@&8:&PUFA9:&88@>J@&
:&8:&P:F:&N@&=I@;<@F&N@8&QJ@K8=5&#8&9=;<?=8&@F<:<:8&Q=?&8=&<:;<=&A;L8JI@&@;&8:&=K?:&N@&8=F&
9=PQ=FA<=?@F5
,@F<:9: &1@?>@A&3?==LA@R& 9=;&FJ &4*(;3(J%&8$S1*+%& I&FJF&K:88@<F &W3/"3&E&X.$*",%& I&
T")!3 & E & "$ & A3'35 & ":PKAb; &,PA<?A & 1E=F<:=RA9E& 9=; & FJF & '! & FA;L=;M:F & I & FJ & GQ@?: &A%)E&
a6

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

D%+'",7&)"&D,1"(1`Z
,7&)*1&/+,#3#+,/#+"#1
T:K8:?@P=F&:E=?:&N@&N=F&9=PQ=FA<=?@F&98:FALA9:N=F&9=P=&/;N@Q@;NA@;<@F&I:&^J@&
:N@PmF & N@ & @;9=;<?:?F@ & N@;<?= & N@ & 8: & 9=??A@;<@ & +@=98mFA9: & ?@:8Ah:; & A;9J?FA=;@F & @; & =<?:F&
<@;N@;9A:F&I&@F<A8=F5&1=;&/>=?&1<?:RA;FI&I&`b8:&`:?<G5
1<?:RA;FI& @F & J;= & N@ & 8=F & 9=PQ=FA<=?@F & P:F & Q=8AL:9b<A9=F & N@8 & 15 & [[5 & 1J & =K?: & @F&
:KF=8J<:P@;<@&R:?A:N:&I&Q8J?:8&Q@?=&<?:F&J;:&@<:Q:&;:9A=;:8AF<:&cb8&@?:&?JF=B&FJ&:Q=?<:9AG;&
:8&+@=98:FA9AFP=&@F&LJ;N:P@;<:85&,@F<:9:;&FJF&K:88@<F&A%&83(1%#!%+*I(&)"&$%&T!*/%<"!%&I&
T.$+*("$$%5&$mF&<:?N@&?@:8Ah:&A;9J?FA=;@F&@;&@8&F@?A:8AFP=5
9%!,I`&@F&@8&=<?=&@S@PQ8=5&%&Q@F:?&N@&FJF&9:?:9<@?MF<A9:F&;@=98mFA9:FH&@;&FJ&PUFA9:&
:Q:?@9@;&?:F>=F&^J@&8:&E:9@;&FJP:P@;<@&9=PQ8@S:5&,@F<:9:&FJ&83(+*"!,3&5%!%&3!0."1,%&I&
FJ&=K?:&D*`!3+31/31&Q:?:&QA:;=5

o"$%ECGnG
):&Q?AP@?:&PA<:N&N@&FA>8=&@;&#FQ:W:&@F<m&P:?9:N:&Q=?&8:&0J@??:&CARA8&c'6V]7'6V6B5&
#F<@&9=;L8A9<=&Q?=R=9:&J;&:AF8:PA@;<=&9J8<J?:8&N@&#FQ:W:&^J@&F@&:9?@9A@;<:&NJ?:;<@&8:&!t&
0J@??:&$J;NA:85&
%U;&:FM&Q=N@P=F&E:K8:?&N@&APQ=?<:;<@F&LA>J?:F&@;&@F<:&Q?AP@?:&PA<:N&N@&FA>8=(
!

0#+#.%C/\+ & ,#) & 6a(& 1J?>@ & Q:?:8@8: & : & 8: & >@;@?:9AG; & 8A<@?:?A: & N@8 & PAFP=&
;=PK?@5&,@F<:9:&F=K?@&<=N=&$:;J@8&N@&4:88:&9JI=&>?:;&Pb?A<=&LJ@&9=PKA;:?&8=F&
@8@P@;<=F&L=88G?A9=F&@FQ:W=8@F&9=;&@8&APQ?@FA=;AFP=&Q?AP@?=&I&@8&;@=98:FA9AFP=&
N@FQJbF5&,@F<:9:;&?3+7"1&"(&$31&X%!)*("1&)"&615%\%&I&8=F&K:88@<F&6$&%/3!&'!.H3&
I &6$&13/'!"!3&)"&,!"1&5*+31Z& k=:^JM;&"J?A;:& <:PKAb;&N@F<:9:&9=;&FJF &:%(P%1&
;%(,S1,*+%1

*<?=F&N@&8:&0@;@?:9AG;&N@8&6a&F=;&k@FUF&0J?ANA&I&*F9:?&#FQ8m5
!

0#+#.%C/\+&,#)&!_(&C=PQ=FA<=?@F&;:9AN=F&:8?@N@N=?&N@&'6OO&I&^J@&?@9=>@;&
8:&E@?@;9A:&N@&8:&0@;@?:9AG;&N@8&6a5&":PKAb;&@F&9=@<m;@:&:&8:&N@8&!_&8A<@?:?A:5&1@&
@;9J@;<?:; & 9A@?<=F & A;<@;<=F & :<=;:8@FH & N=N@9:LG;A9=F & I & ;@=98mFA9=F5 & ,@F<:9:;&
.=K@?<=&0@?E:?NH&#?;@F<=&I&.=N=8L=&T:8LL<@?&=&1:8R:N=?&`:9:?AFF@&9=;&FJ&L:P=F=&
83(+*"!,3&5%!%&#.*,%!!%&E&3!0."1,%5

,@FQJbF & N@& 8: & 0J@??: & 9ARA8H& NJ?:;<@ & @8 &?b>AP@; & L?:;^JAF<: & ;= & E:I & N@P:FA:N=&
A;<@?bF&Q=?&8:&PUFA9:H&FA@;N=&8:&<G;A9:&>@;@?:8&9A@?<=&;:9A=;:8AFP=&9:F<A9AF<: '5&):&
LA>J?:&PmF&9=;=9AN:&@F&k=:^JM;&.=N?A>=&I&FJ&L:P=F=&83(+*"!,3&)"&>!%(H."PZ

'%5>9=A=>K7&@F&J;:&Q=F<J?:&8A<@?:?A:H&9J8<J?:8&@&AN@=8G>A9:H&P:;AL@F<:N:&@;&#FQ:W:&N@FN@&@8&FA>8=&[Y///&@;&
=Q=FA9AG;&:&8:&:L?:;9@F:N:&=&A8JF<?:N:H&I&^J@&N@FN@&@;<=;9@F&F@&?@8:9A=;:&9=;&@8&Q@;F:PA@;<=&@:5AA=785@=7T*
#F&J;:&?@ARA;NA9:9AG;&N@L@;FAR:&N@&8=&9:F<Ah=H&=&F@:H&N@&8:F&@DQ?@FA=;@F&N@&<=N=&<AQ=&c9J8<J?:8@FH&?@8A>A=F:FH&
RA<:8@FH&P=N:H&:9<A<JN@FH&E:K8:H&=&A;98JF=&N@&8:&=?>:;Ah:9AG;&Q=8M<A9:&I&F=9A:8BH&^J@&F@&Q@?9AK:;&Q=?&@8&9:F<A9AF<:&
9=P=&Q?=QA:F&N@&FJ&9:F<:H&@;<@;NAN:&bF<:&;=&<:;<=&9=P=&8:&?:h:&=&@<;A:&Q?=QA:&H&FA;=&PmF&KA@;&9=P=&@8&
9:?m9<@? & ;:9A=;:8 & @FQ:W=8H & 8: & KJ@;: & 9:F<:H & A;98JF= & @; & <b?PA;=F & ?@Q?=NJ9<AR=F & R:>:P@;<@ & P:9EAF<:FH & ^J@&
L=?P:?=;&Q:?<@&N@8&;:9A=;:8AFP=&@FQ:W=8H&F=K?@&<=N=&@;&FJF&@DQ?@FA=;@F&PmF&Q=QJ8:?@F&I&@;&8:F&@DQ?@FA=;@F&
N@&=?>J88=&Q:<?AG<A9=&E:KA<J:8@F&NJ?:;<@&@8&L?:;^JAFP=5&

6O

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

*'&()*+X*T_*-)1*"O&P)1*'&"#&"%$)1*)*3)/'$/*#&*-)*$$*
0O&//)*(O"#$)-T
O57&/;<?=NJ99AG;5
'57&):&PUFA9:&9=;9?@<:&I&@8@9<?G;A9:
!57&#8&F@?A:8AFP=&A;<@>?:85
V57&):&PUFA9:&:8@:<=?A:&=&8:&A;N@<@?PA;:9AG;
X57&$UFA9:&>?JQ:85
Z57&$UFA9:&@F<=9mF<A9:5
]57&CA<:F&I&9=88:>@F5
_57&$A;AP:8AFP=&I&;J@R:&<=;:8AN:N5
a57&):&$UFA9:&@FQ:W=8:&N@&R:;>J:?NA:
a5'57&):&0@;@?:9AG;&N@/&Z'5
a5!57&)=F&A;<@?>@;@?:9A=;:8@F&I&8:&0@;@?:9AG;&N@8&]'

T"#$<IOY3JZ??<[I"
): & 1@>J;N: & 0J@??: & $J;NA:8 & c'6V67'6XZB & N@F<?=hG & #J?=Q:H & Q=? & 8= & ^J@ & 8:F & :?<@F & @;&
>@;@?:8 & FJL?A@?=; & J;: & LJ@?<@ & 9=;P=9AG;5 & TJK= & ^J@ & ?@9=;F<?JA? & Q?m9<A9:P@;<@ & <=N= & @8&
9=;<A;@;<@ & IH &9=P= & 9=;F@9J@;9A:H & FJ?>@; & ;J@R=F & 9:PA;=F & @DQ?@FAR=F& IH & F=K?@ & <=N=H & J;&
;J@R=&@FQM?A<J&@DQ@?AP@;<:N=?&^J@&E:9@&^J@H&:&Q:?<A?&N@&'6XZH&E:K8@P=F&N@&qR:;>J:?NA:r5
)=F & 9:PKA=F & LJ@?=; & N@ & <=N: & M;N=8@( & :8>J;=F & 9=P= & Q?=NJ9<= & N@ & 8: & @R=8J9AG; & N@&
9A@?<=F & P=RAPA@;<=F & I: & A;A9A:N=F & @; & @8 & Q@?M=N= & :;<@?A=?H & 9=P= & 8=F & N@?AR:N=F & N@8&
,=N@9:L=;AFP=z & =<?=FH & SJF<:P@;<@ & 9=P= & ?@:99AG; & : & @F<: & <b9;A9:z & I & =<?=FH & LA;:8P@;<@H&
Q?=R=9:N=F&Q=?&8:F&:Q=?<:9A=;@F&N@&8:&9A@;9A:&I&N@&8:&<@9;=8=>M:&@8@9<?G;A9:5
*<?: & 9A?9J;F<:;9A: & APQ=?<:;<@ & @F & ^J@ & 8: & R:;>J:?NA: & 88@>G & I: & : & <=N=F & 8=F & Q:MF@F&
@J?=Q@=F&I&:P@?A9:;=FH&I&:8>J;=FH&:N@PmFH&:N^JA?A@?=;&J;:&APQ=?<:;9A:&@FQ@9A:8H&9=P=&@F&
@8&9:F=&N@&#FQ:W:&^J@H&:&Q:?<A?&N@&8:&88:P:N:&q0@;@?:9AG;&N@8&Z'rH&<JR=&J;:&>?:;&Q?@F@;9A:&
@;&8:&PUFA9:&@J?=Q@:5

!"#$0($192/'($'+)'-.*($B$.&.'*->)/'(
(Q>=A5*A78A@:95&@F&8:&Q?=NJ9AN:&Q:?<A@;N=&N@&F=;AN=F&@DAF<@;<@F&@;&@8&PJ;N=H&@F&
N@9A?H & Q=? & 9J:8^JA@? & =KS@<=5 & 1@>U; & 3A@??@ &1A<5:GG:@H & FJ & A;R@;<=?H & @F<m & Q?=NJ9AN: & Q=?&
=KS@<=F &9=;9?@<=F& c9J:8^JA@?&=KS@<=B&I&;=&Q=?&8=F &:KF<?:9<=FH&^J@&F@?M:;&8=F&A;F<?JP@;<=F&
<?:NA9A=;:8@FH&9=P=&@8&RA=8M;H&@8&G?>:;=H&8:&L8:J<:H&@<95 &f;:&R@h&?@9=>AN=F&8=F&F=;AN=F&N@8&
PJ;N=&?@:8&@;&9A;<:F&P:>;@<=LG;A9:FH&8=F&@8:K=?:&9=;&<=N=&<AQ=&N@&<?J9=FH&N@&<:8&L=?P:&^J@&
F@&N@F;:<J?:8A9@;&I&9=;L=?P@;&J;:&;J@R:&?@:8AN:N&F=;=?:5&/;P@NA:<:P@;<@&FJ?>@;&8=F&N=F&
>?:;N@F&9=PQ=FA<=?@F&N@&@F<:&PUFA9:(&3=:@@:*1A<5:GG:@&c'6'OB&I&3=:@@:*Z:8@D&c'6!_BH&
9=;&=K?:F&9=P=&4*(;3(J%&5%!%&.(&73/'!"&13$3&=&4*(;3(J%&5%!%&.(%&5."!,%&E&.(&1.15*!35
(Q>=A5*:C:A9@?8=A5& @F&:^Jb88:&@;&^J@ &F@&J<A8Ah:;&F=8:P@;<@&F=;AN=F&Q?=NJ9AN=F&
@8@9<?G;A9:P@;<@& Q=?&FA;<@<Ah:N=?@F&=&:Q:?:<=F&@8@9<?G;A9=F5&#8&QJ;<=&N@&Q:?<AN:&N@&@F<:&
PUFA9:&@F&8=&^J@&F@&88:P:&<=;=&FA;JF=AN:8H&@F&N@9A?H&@8&F=;AN=&QJ?=H&FA;&:?PG;A9=FH&^J@&@F&
LMFA9:P@;<@&N@F:>?:N:K8@&I&^J@&E:I&^J@&@8:K=?:?&9=;&:Q:?:<=F&9=PQ8@S=F5&):&NAL@?@;9A:&9=;&
8:&PUFA9:&9=;9?@<:&@FH&QJ@FH&98:?:5&):&PUFA9:&@8@9<?G;A9:H&:8&A>J:8&^J@&8:&9=;9?@<:H&F@&E:9@&
@; & 8:K=?:<=?A=5 & 1J?>@ & A;P@NA:<:P@;<@ & J; & 9=PQ=FA<=? & N@ & >?:; & APQ=?<:;9A:H & @8 & :8@Pm;&
n5@C<:=8` * 197Ap<5E>:8H & ^J@ & 9=PQ=;@ & @; & '6ZV & @8 &61,.)*3 & U& I & @8 &8%(,3 & )" & $31&
%)3$"1+"(,"15
6'

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

1A;&NJN:H&8=F&P@S=?@F&L?J<=F&N@&@F<=F&N=F&A;R@;<=F&FJ?>A@?=;&N@&8:&P@h98:&N@&:PK=FH&
^J@&NA= &8J>:?&:&8: &KQ>=A5*:C:A9@75AQ>9=A55&#;&@F<: &<b9;A9: &9=PQ=;@;&9:FA&<=N=F&8=F&
:J<=?@F&?@F@W:N=FH&N:N=&^J@H &:8&J;A?&:PK=F&FAF<@P:FH&F@&:JP@;<:;&8:F&Q=FAKA8AN:N@F&N@&
9?@:9AG;5 & 1@ &N@F<:9:; & :FM & @8 & A<:8A:;= &-EA=587 * ^:@=7H & 9=; &D.,%P*3("1H & I &^@E87*
(5I:@85H&9=;&?3+,.!(35

7"#$%&$2.-/(&/21+$/)*.,-(&"
%8&PAFP=&<A@PQ=&^J@&FJ?>@;&8:F&A;;=R:9A=;@F&N@&8:&PUFA9:&9=;9?@<:&I&@8@9<?G;A9:H&
@;&8:&9A<:N:&1@>J;N:&#F9J@8:&N@&YA@;:H&F@&FA>J@&Q?=LJ;NAh:;N=&@;&8:F&9=;F@9J@;9A:F&N@8&
,=N@9:L=;AFP=H & F=K?@ & <=N= & : & <?:RbF & N@ &)8978 * b:F:@85 & p8 & 88@RG & E:F<: & 8:F & U8<AP:F&
9=;F@9J@;9A:F & :8 & ,=N@9:L=;AFP= & c^J@ & E:F<: & @;<=;9@F & FG8= & E:KM: & F@?A:N= & 8: & :8<J?:BH&
=?>:;Ah:;N= & I & F@?A:;N= & =<?=F & Q:?mP@<?=F & 9=P= & 8: & NJ?:9AG;H & 8: & A;<@;FAN:N & I & @8 & <APK?@5&
b:F:@8&Q?@<@;NM:&9=;<?=8:?&<=N:F&8:F&R:?A:K8@F&PJFA9:8@Fz&@;&?@:8AN:N&@F<:K:&A;R@;<:;N=&
@8&N@;=PA;:N= &>:@=5C=>K7*=89:J@5CH &^J@&N@LA;AP=F&9=P=&J;:&P:;@?:&N@&9=PQ=;@?&@;&
^J@&=?N@;:H&@;&J;:&F@?A@&N@&F=;AN=F&9=PQJ@F<=F&F@>U;&@8&FAF<@P:&N=N@9:LG;A9=H&:&<=N=F&8=F&
N@PmF&@8@P@;<=F&F=;=?=F(&?A<P=FH&<APK?@FH&A;<@;FAN:N@FH&@<95H&Q=?&8=&^J@&FJ?>@&J;:&PUFA9:&
<=<:8P@;<@&=?>:;Ah:N:H&<=<:8P@;<@&9:89J8:N:H&N=;N@&9:N:&;=<:&9:N:&QJ;<=&F=;=?=&<A@;@&
FJ&@F<?A9<=&F@;<AN=5&
/;P@NA:<:P@;<@H&PJ9E=F&PUFA9=F&SGR@;@F&F@&8:;h:;&:&9=PQ=;@?&@;&@F<:&8M;@:5&,@F<:9:&
@8 & =?>:;AF<: & L?:;9bF &.C=M=:@ * (:>>=5:85 & #F<@& :J<=? & A;L8JI@& PJ9E= & F=K?@ & FJF& :8JP;=FH&
9=P= & 3A@??@ &^7EC:`& I &i:?8E@A;h &197Ap<5E>:85 &$@FFA:@;& @F &J;= & N@& 8=F& PUFA9=F & PmF&
APQ=?<:;<@F&N@8&FA>8=&[[&I&FJ&Q?AP@?:&=K?:H&A;<@>?:8P@;<@&F@?A:8H&@F&8:&<A<J8:N:&D3)31&)"&
<%$3!&"&*(,"(1*)%)5&
#;&@F<:&PAFP:&<b9;A9:&F=K?@F:8@;&=<?=F&:J<=?@F&9=P=&@8&L?:;9bF &3=:@@:*^7EC:`H&9=;&
=K?:F & 9=P= &6$ & /%!,*$$3 & 1*( & )."\3z & @8 & :8@Pm; & I: & 9A<:N= & i:?8E@A;h &197Ap<5E>:8H & 9=;&
a3(,!%5.(`,"z & I & 8=F & A<:8A:;=F &-EA=587 * ^:@=7H & 9=; &4"!"(%,%H &^@E87 * (5I:@85H & 9=;&
DL1*+%&1."&)."&)*/"(1*3(*H&I&-E=J=*"787H&9=;&U$&+%(,3&1315"135

F"#$0($192/'($(&.(*+-/($+$&($/)5.*.-1/)('/>)
C:FA&:8&PAFP=&<A@PQ=&^J@&@8&:;<@?A=?&FAF<@P:H&I&@;&8=F&:W=F&N@&8:&Q=F>J@??:H&FJ?>@&@;&
+=?<@:Pb?A9: & @8 & 9=;<?:?A=( &8: & J<A8Ah:9AG; & @; & 8: & 9=PQ=FA9AG; & N@8 & :h:? & = & N@ & 8:&
A;N@<@?PA;:9AG;H & @F & N@9A?H & J; & P=N= & N@ & 9=PQ=;@? & @F@;9A:8P@;<@ & A;<JA<AR= & I & ;:N:&
FAF<@Pm<A9=5&#;<@;N@P=F&Q=?&KQ>=A5*5C:597@=5&=&=8I:9:@K=85A=?8(&:^Jb88:&@;&8:&^J@&
@8 & :J<=? & ;= & @F9?AK@ & = & N@<@?PA;: & <=<:8P@;<@ & 8: & PUFA9: & ^J@ & E:I & ^J@ & <=9:?H & FA;= & ^J@ & 8=F&
PUFA9=F&@;&@8&P=P@;<=&N@&@S@9J<:?8:&<A@;@;&^J@&A;R@;<:?&=&9=PQ8@<:?&8:&Q:?<A<J?:z&@;&
@F<@&F@;<AN=H&@L@9<AR:P@;<@H&@F<:&PUFA9:&;=&@F<m&<=<:8P@;<@&=?>:;Ah:N:H&I&<A@;@&J;&98:?=&
9:?m9<@?&:;<A??:9A=;:8AF<:z&N@Q@;N@&J;&Q=9=&N@8&:h:?5
#8 & >?:; & Q?=L@<: & N@ & @F<: & <@;N@;9A: & @F & @8 & 9=PQ=FA<=? & ;=?<@:P@?A9:;= &R7<8 * %5J:*
c^JA@; & J<A8Ah:?m & Q:?: & FJF & =K?:F & N:N=FH & P=;@N:FH & 9:?<:FH & @8 & / & CEA;>H & 8AK?= & 9EA;= & N@ & 8=F&
=?m9J8=FyB&@;&9=PQ:WM:&N@&$@?9@&%E88=8J<5K5&3=N?M:P=F&?@FJPA?&:FM&8:F&:Q=?<:9A=;@F&
N@&C:>@(
+T ^Q>\E:I5*I:*8E:M7>*K59:@=5C:>*>787@7>H&A;F:<AFL@9E=&9=;&8=F&A;F<?JP@;<=F&
6!

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

^J@&<A@;@&:&FJ&F@?RA9A=5&
UT $8M:897 * I: * 8E:M7> * >=>9:K5> * I: * :>A@=9E@5 * KE>=A5CH & Q:?: & :N:Q<:? & 8=F&
P:<@?A:8@F&A;JFJ:8@F&^J@&J<A8Ah:5
VT %78A:LA=?8*I:*A5I5*E8=I5I*I:C*>78=I7*A7K7*=8I:L:8I=:89:(&;=&N@?AR:&N@&
8=F&^J@&8@&Q?@9@N@;&=&FA>J@;&IH&Q=?&@88=H&FA;&Q?=QGFA<=&;A&9=;@DA=;@F&9=;&=<?=F5
WT 3:?: & 9=;F@>JA? & bF<@ & E:I & ^J@ &>5A5@ * 5C * <7KF@: * I: * AE5C\E=:@ * A789@7C * I:C*
>78=I7H&E:9A@;N=&^J@&F@:;&@88=F&PAFP=F5&%FM&F@&88@>:&:&8:&<=<:8&A;N@<@?PA;:9AG;5&
1J?>@;&=K?:F&9=P= &DL1*+%&5%!%&5*%(3H&@;&8:&^J@&8=F&A;<b?Q?@<@F&A;R@;<:;&F=K?@&
9A@?<:F&;=<:F&Q?=QJ@F<:FH&I&F@>U;&FJF&APQJ8F=F&P=P@;<m;@=F5
): & =K?:& N=;N@ &88@RG &@F<: &<@=?M:&:&FJF&PmDAP:F&9=;F@9J@;9A:F&N@&A;N@<@?PA;:9AG;&I&
N@FA;<@;9A=;:8AN:N&LJ@ &Nk$FFp5&):&=K?:&F@&K:F:&@;&@8&FA8@;9A=H&I&C:>@&F@&9=;F:>?:&:&bF<@&
9=P=&Q:?<@&FJF<:;9A:8&N@&8:&;J@R:&PUFA9:5
*<?=F&?@Q?@F@;<:;<@F&N@&8:&PUFA9:&:8@:<=?A:&F=;&`=J8@h&c61,!.+,.!"1&UUB&I&1<=9E:JF@;&
cT*"P%&5%!%&5*%(3&nUY5

N"#$892/'($,-=;(&"
%&Q:?<A?&N@&P@NA:N=F&N@&8=F&:W=F&9A;9J@;<:&N@8&FA>8=&[[H&F@&A;A9A:;&RM:F&Q:?:&:<:9:?&
@8&@D9@F=&N@&?:9A=;:8AFP=H&:8&^J@&E:KM:;&9=;NJ9AN=&8:F&<@;N@;9A:F&:;<@?A=?@FH&Q=?^J@&@F@&
9JAN:N=&@D<?@P=&N@8&N@<:88@&@;F=PK?@9M:&8:&RAFAG;&N@8&9=;SJ;<=5
): & ?@:99AG; & RA;= & 9=; & 8: &9=PQ=FA9AG; & @; & >?JQ= & Q:?: & R:?A=F & 9=;SJ;<=F & = & >?JQ=F&
A;F<?JP@;<:8@FH&@;&@8&^J@&8:&<@D<J?:&R=8RM:&:&F@?&@8&9@;<?=5&#F&8:&=K?:&N@ &197Ap<5E>:8H&
M!.55"(H & N=;N@ & F@ & :Q8A9: & Q=? & Q?AP@?: & R@h & @F<: & <b9;A9:5 & #F<: &KQ>=A5 * 9:;9E@5C& <A@;@&
@FQ@9A:8&?@8A@R@&@;&N=F&PUFA9=F&N@&#J?=Q:&*?A@;<:8H&^J@&:FJP@;&J;&@FQ@9A:8&Q?=<:>=;AFP=(&
@8 & Q=8:9= &n@`D>`97G* 3:8I:@:Ap=& I & @8 & EU;>:?= &0D{@JD * -=J:9=5 & 3@;N@?@9A & 9=PQ=;@&
A%/"(,3&53!&$%1&<J+,*/%1&)"&F*!317*/%& f'6]OBH&Q:?:&9A;9J@;<:&I&N=F&A;F<?JP@;<=F&N@&
9J@?N:&=&@8&G!%,3!*3&"(&/"/3!*%&)"&$%1&<J+,*/%1&)"&>.1+7d*,P5&%88M&8=&^J@&APQ=?<:&F=;&8:F&
P:F:FH&8=F&>?JQ=F&N@&F=;AN=&=&98JF<@?FH&FA;&APQ=?<:?&9=;9@Q<=F&9=P=&P@8=NM:H&@<95&

a"#$892/'($.2*+'c2*/'("
1J?>@ & A>J:8P@;<@ & 9=P= & ?@:99AG; & :8 & F@?A:8AFP= & A;<@>?:8H & I & <:PKAb; & : & 8:&
A;N@<@?PA;:9AG;z &@F & J;: & L=?P: & N@ & 9=PQ=;@? & K:F:N: & @; & @8 & JF= & N@8 & =?N@;:N=? & I & N@ & 8:&
@F<:NMF<A9:&:&8:&E=?:&N@&?@:8Ah:?&8:&=K?:&F=;=?:5&#8&>?:;&9@?@K?=&N@&@F<:&PUFA9:&@F&@8&>?A@>=&
:LA;9:N=&@;&3:?MF &$588=>*Y:85p=>& c'6!!BH&^J@&<?:K:S:&N=9@&:W=F&9=;&@8&:?^JA<@9<= &-:*
%7@FE>=:@&I&@F<JNA:&PUFA9:&9=;&*8ARA@?&$@FFA:@;5&#;&D",S1,%1*1&c'6ZVB&@PQA@h:&:&:Q8A9:?&
8:&<@=?M:&N@&8:&Q?=K:KA8AN:N&P:<@Pm<A9:z&:FMH&FJ?>@;&=K?:F&9=P=&T*,735!%`,%&I&>+73!!*51*15

o"#$?/*(2$B$'+&&(,.2"

#F<:&8M;@:&N@&:99AG;&PJFA9:8&@F&N@&8=F&F@F@;<:H&I&F@&K:F:&@;&@8&JF=&N@&9A<:F&N@&8:&
PUFA9:&<=;:8&<?:NA9A=;:8&@;&8:F&;J@R:F&9=PQ=FA9A=;@F5&#F<:F&9A<:F&FA@PQ?@&F@&E:;&JF:N=5&
.@9=?N@P=F&9GP=&1<?:RA;FA&Q:?<M:&N@&3@?>=8@FAH&Q:?:&FJ&=K?:&T.$+*("$$%5&)=&;=R@N=F=&N@8&
;J@R=&@PQ8@=&N@&8:F&9A<:F&@F&^J@&:E=?:&F=;&JF:N:F&9=P=&=KS@<=F&@D<@?;=FH&^J@&F@&@8:K=?:;H&
F@ & NAF<=?FA=;:; & I & F@ & JF:; & : & 8= & 8:?>= & N@ & <=N: & 8: & =K?:5 & #F & N@9A?H & @8 & :J<=? & F@ & NAF<:;9A:&
<=<:8P@;<@&N@&8=&:;<@?A=?&P@NA:;<@&NAF<=?FA=;@F&I&IJD<:Q=FA9A=;@F5&,@F<:9:;&@;&@8&JF=&N@&
6V

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

@F<:F&<b9;A9:F&)J9A:;=&`@?A=H&%8L?@N&19EA;<<@&I&i:?8E@A;h&1<=9E:JF@;5&
f;:& R:?A@N:N&N@&@F<: &9=??A@;<@&@F&@8 &@PQ8@= &N@8 &?=9H&S:hh &I&PUFA9:F&Q=QJ8:?@Fz&
F=K?@ & <=N=H & @8 & ?=9 & Q?=>?@FAR=5 & ): & PUFA9: & 98mFA9: & N@ & 9=;9A@?<= & I & @8 & ?=9 & F@ & A;L8JI@?=;&
PJ<J:P@;<@z&^JAhm&@8&P@S=?&FMPK=8=&N@&@88=&F@:&4@58p*m5LL5T
$mF&N@<@?PA;:;<@&@F&8:&A;L8J@;9A:&N@8&N5``&I&8:F&KQ>=A5>*L7LEC5@:>5&#;&@8&Q?AP@?&
9:F=H & ?@9=?N@P=F & 9=PQ=FA<=?@F & 9=P= &-:785@I * ^:@8>9:=8& IH & @; & >@;@?:8H & @8 & PJFA9:8&
:P@?A9:;=z&@;&@8&F@>J;N=H&:&PJ9E=F&:J<=?@F&@;&8=F&^J@&8:&Q?@F@;9A:&N@&@8@P@;<=F&N@&8:&
PUFA9:&b<;A9:&:Q:?@9@;&98:?=F5

V"#$8/)/1(&/21+$B$)=.:($*+)(&/5(5"
C=P= & @F & 8G>A9=H & @F<: & <@;N@;9A: & @F & J;: & ?@:99AG; & : & 8: & 9=PQ8A9:9AG; & N@ & 8: & PUFA9:&
9=;<@PQ=?m;@:z&<:PKAb;H&:&8:&EJAN:&N@&KJ@;:&Q:?<@&N@8&QUK8A9=5&1J&P@<:&@F&9=PQ=;@?&J;:&
PUFA9:&PmF&F@;9A88:&I&NA?@9<:5&3:?<@&N@&8=F&FA>JA@;<@F&Q?@FJQJ@F<=F(
+T 1@;9A88@h&N@&P@NA=F&I&@F<?J9<J?:F5
UT fF=&N@&;J@R=&N@&8:&<=;:8AN:N&N@&J;:&P:;@?:&@F<m<A9:&I&?@Q@<A<AR:5
VT .A<P=F&?@Q@<A<AR=F&I&:NA<AR=F5
WT fF=&N@&<@P:F&K@88=FH&<?:;FQ:?@;<@F&I&9=;&J;:&<@D<J?:&98:?:5
#F<:&<@;N@;9A:&;:9@&@;&+=?<@:Pb?A9:H&P=RAN:&Q=?&J;:&F@?A@&N@&SGR@;@F&PUFA9=F( &-5*
(789:*27E8JH&':@@D*/=C:DH&19:M:*/:=A<&I&3<=C=L*0C5>>5&
19:M:*/:=A<&Q?=RA@;@&N@8&S:hh&I&N@&8:&PUFA9:&Q=QJ8:?&I&3<=C=L*0C5>>*^J@&F@&E:&E@9E=&
PJI & L:P=F= & LJ;N:P@;<:8P@;<@ & : & <?:RbF & N@ & FJF & GQ@?:F5 & ":PKAb;H & N@ & FJF & PUFA9:F&
?@Q@<A<AR:F&^J@&E:;&A;R:NAN=&@DA<=F:P@;<@&@8&PJ;N=&N@&8:&PUFA9:&N@&P:F:F&I&N@8&9A;@5

q"#$0($892/'($.2;(X+&($5.$:(),=(-5/(
dT+T_*-5*0:8:@5A=?8*I:$*X+T
#8&LA;:8&N@&8:&0J@??:&CARA8&c'6V]7'6V6B&P:?9:&J;&9=?<@&K?JF9=H&<:;<=&@;&8:&PUFA9:&
9=P=&@;&@8&?@F<=&N@&8:F&:?<@F5&%&LA;:8@F&N@&8:&Nb9:N:&N@&8=F&9J:?@;<:H&F@&A;A9A:;&8=F&Q?AP@?=F &
P=RAPA@;<=F&Q:?:&9:PKA:?&8:&FA<J:9AG;&Q=?&J;:&F@?A@&N@&9=PQ=FA<=?@F&;:9AN=F&@;<?@&'6!X&I&
'6Va5&#F<@&E@9E=&FJ9@N@H&9:FA&:8&PAFP=&<A@PQ=H&@;&$:N?AN&I&`:?9@8=;:5
-5*0:8:@5A=?8*I:C*X+&FJ?>@&@;&;J@F<?=&Q:MF&9=P=&?@FQJ@F<:&:8&?@;=R:?F@&=&P=?A?H&
I&9=PA@;h:&:&Q?@F@;<:?F@&@;&8:&Nb9:N:&N@&8=F&9A;9J@;<:&9=;&J;&A;<@;<=&N@&?@9JQ@?:?&@8&
<A@PQ=&Q@?NAN=5&1@&@;<?@>:&:&J;:&<?AQ8@&8J9E:(
! .@9JQ@?:?&@8&<A@PQ=&Q:?:&:9=P=N:?;=F&:&#J?=Q:5
! ,:?&:&;J@F<?:&PUFA9:&@8&F@;<AN=&N@&9:PKA=&;@9@F:?A=5
! /;R@;<:?&J;&;J@R=&PJ;N=&N@&L=?P:FH&N:N=&^J@&8:F&:;<@?A=?@F&;=&F@?RM:;5
#;&@F<:&8:K=?&Q:?<A9AQ:;&J;:&F@?A@&N@&9=PQ=FA<=?@FH&^J@&9=;L=?P:;&8:&0@;@?:9AG;&N@8&Z'&
I&RAR@;&@;&$:N?AN&=&`:?9@8=;:( &RE58*Z=I5CJ7H &/5K?8*^5@A:B& %5@K:C7*^:@857C5H&
-E=>*I:*35FC7H&%@=>9?F5C*Z5CGG9:@H&)89?8*05@AH5*)F@=C5

dTUT_*-7>*=89:@J:8:@5A=785C:>*D*C5*0:8:@5A=?8*I:C*f+
%Q?=R@9E:;&@8&98AP:&N@&?@F<:J?:9AG;&9?@:N=&Q=?&8:&0@;@?:9AG;&N@8&Z'z&@F<m&L=?P:N:&Q=?&
6X

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

:J<=?@F & :U; & @; & :9<AR=( &'7K[>& (5@A7H& 4@58A=>A7 * 0E:@@:@7H* R7>i * -E=> * 'E@=855&
C=;<?AKJI@;&<:PKAb;&:&8:&8:K=?&PJFA9=8G>A9:&I&:&8:&A;R@F<A>:9AG;5&%8>J;=F&N@&@F<=F&:J<=?@F&
<?:K:S:;&<:PKAb;&9=;&8:F&PUFA9:F&:8<@?;:<AR:F5&%J<=?@F&N@&8:&>@;@?:9AG;&N@8&]'&F=;&k=Fb&
.:PG;&&8A=85@H&%8K@?<&1:?Nm&I&C:?8@F&0JA;=R:?<H&@<95

6Z

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

$/012%3(%4506782/06%92:7;6%62<:0%=26%70>;6?
+T*%5@5A9:@H>9=A5>*I:C*%5897*0@:J7@=587*
!
!
!
!
!
!

#F&P=;GNA9=&I&R=9:8H&FA;&:9=PQ:W:PA@;<=&A;F<?JP@;<:8&cq:&9:Q@88:rB5
1J & ?A<P= & @F & 8AK?@H & N@Q@;NA@;<@ & N@ & 8: & Q?=F=NA: & N@8 & <@D<= & c:9@;<J:9AG; & N@8 & <@D<=B&
@F9?A<=&@;&8:<M;5
$@8GNA9:P@;<@&F@&PJ@R@&Q=?&>?:N=F&9=;SJ;<=F&=&Q?GDAP=FH&9=;&J;&mPKA<=&PmDAP=&
N@&]t&J&at5&
fF:&=9E=&@F9:8:F&88:P:N:F&P=N=F&cQ?=<JFH&N@J<@?JFH&<?A<JF&I&<@<?:?NJFz&9:N:&J;=&N@&
@88=F&Q=N?m&F@?&:J<b;<A9=&=&Q8:>:8B5
fF:&<?@F&FAF<@P:F&F@>U;&@8&;UP@?=&N@&;=<:F&Q=?&FM8:K:(&FA8mKA9=H&9=;&J;:&;=<:&Q=?&
9:N: & FM8:K:z & ;@JPm<A9= & = & :N=?;:N=( & N=F & = & <?@F & ;=<:F & Q=? & FM8:K:H & I & L8=?AN= & =&
P@8AFPm<A9=H&PJI&:N=?;:N=H&9=;&PmF&N@&<?@F&;=<:F&Q=?&FM8:K:5
1J&LA;:8AN:N&@F&8:&N@&=?:?H&Q=?&8=&^J@&PUFA9:&I&<@D<=&F=;&A;F@Q:?:K8@FH&:PK=F&F=;&8:&
@DQ?@FAG;&N@&J;:&PAFP:&AN@:5

UT*#=G:@:8A=5>*D*>:K:N58`5>*:89@:*'@7M5I7@:>*D*'@7M:@7>*
%PK=FH&:8&A>J:8&^J@&8=F&PA;;@F;>@?&:8@P:;@FH&F=;&Q=@<:F&PUFA9=F&^J@&FJ?>A@?=;&
NJ?:;<@&8:&@N:N&P@NA:&9=P=&L?J<=&N@8&8JS=&I&N@8&?@LA;:PA@;<=&N@&8:F&9=F<JPK?@FH&:FM&9=P=&
N@8&@FQM?A<J&9:K:88@?@F9=&I&N@8&9J8<=&:&8:&PJS@?5&
3@?<@;@9M:;& :&8: &98:F@&F=9A:8&N@&8:&;=K8@h:H&FA@;N= &:8>J;=F&9:K:88@?=F&=H&@;&:8>U;&9:F=H&
R:F:88=F&9=;&<:8@;<=5&
#?:;&9J8<=F&I:&^J@&@F9?AKM:;&<:;<=&8=F&Q=@P:F&9=P=&8:&PUFA9:&^J@&8=F&:9=PQ:W:K:H&
I&J<A8Ah:K:;&A;F<?JP@;<=F&c8:UN@FH&:?Q:FH&RA=8:F555B5&
):&<@Pm<A9:&Q?A;9AQ:8&N@&FJF&9:;9A=;@F&@F&@8&:P=?&F@>U;&@8&AN@:8&N@8&:P=?&9=?<bFH&:N@PmF&N@&
<?:<:?&<@P:F&9=P=&8:F&>J@??:FH&9?Jh:N:F555&
#;&9J:;<=&:&8:F&NAL@?@;9A:FH&8:&Q?A;9AQ:8&@F&@8&ANA=P:5&)=F&<?=R:N=?@FH&9JI=&@FQ:9A=&
>@=>?mLA9=&:K:?9G&8:&4?:;9A:&P@?ANA=;:8&I&@8&;=?<@&P@NA<@??m;@=&Q@;A;FJ8:?H&J<A8Ah:K:;&8:&
8@;>J:&Q?=R@;h:8&N@;=PA;:N:&q=9r&c):;>J@&Nn=9B&PA@;<?:F&^J@&8=F&<?=R@?=F&F@&@DQ?@F:K:;&
@;&8:&8@;>J:&q=A8r&cL?:;9bF&:;<A>J=BH&FA<Jm;N=F@&@;&8:&4?:;9A:&F@Q<@;<?A=;:8&@&/;>8:<@??:H&
FA@;N=&:N@PmF&9?=;=8G>A9:P@;<@&Q=F<@?A=?@F5

VT*3@=8A=L5C:>*5E97@:>*D*G7@K5>*KE>=A5C:>*I:*C5*:>AE:C5*I:*"79@:*#5K:
!
!

):F&L=?P:F&N@&9=PQ=FA9AG;&F=;&<?@F(
*?>:;JP(&#8:K=?:9AG;&Q=8ALG;A9:&N@&8=F&9:;<=F&:&!H&V&=&X&R=9@FH&9=PQJ@F<=F&@;&N=F&
@F<A8=F & LJ;N:P@;<:8@FH & =?>:;JP & P@8AFPm<A9= & I & 98mJFJ8:F & N@ & NAF9:;<=H & F@99A=;@F&
N=;N@&@8&<@;=?&F@&RJ@8R@&P@8AFPm<A9=&I&F@&=?>:;Ah:&F@>U;&J;&P=N=&?M<PA9=5
C=;NJ9<JF(&C=PQ=FA9AG;&?@8A>A=F:&Q@?=&;=&8A<U?>A9:H&N@F<A;:N:&:&N@FQ8:h:PA@;<=F&
N@8&98@?=5&#F9?A<=&:&!H&V&=&X&R=9@FH&@;&@F<A8=&;=<?:&9=;<?:&;=<:5&#8&<@;=?&@F&N@&9?@:9AG;&
;J@R:H&;=&F@&<=P:&N@8&>?@>=?A:;=5&+=?P:8P@;<@&@F&FA8mKA9=&Q@?=&QJ@N@&88@R:?&:8>J;:&
F@99AG;&P@8AFPm<A9:5
$=<@<@(&+:9@&:&Q:?<A?&N@&8:F&98mJFJ8:F&N@&NAF9:;<=5&pF<:F&:9:K:;&A;N@Q@;NAhm;N=F@&I&
F@&8@F&Q=;N?m&J;&<@D<=&;J@R=H&@;&Q?A;9AQA=&@;&8:<M;&I&N@FQJbF&@;&L?:;9bF&FA@;N=&@F<=F&
I:&Q?=L:;=FH&A;98JF=&N@&<@Pm<A9:&:P=?=F:5&1@?m&8:&L=?P:&PmF&APQ=?<:;<@&N@8&F5&[///5

#8&9=?QJF&9@;<?:8&N@8&?@Q@?<=?A=&N@&+=<?@&,:P@&F@&@F9?AKAG&Q=?&)@=;M;H&P:@F<?=&N@&
C:QA88:&:88M&N@FN@&'']V&d&''a!&I&F@&9=PQ8@<G&N@FQJbF&Q=?&3@?=<M;H&Q@?=&<:PKAb;&F@&;=PK?:;&
6]

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

=<?=F&PUFA9=F&9=P=&Q=?&@S@PQ8=&$:>AF<@?&%8K@?<JF5

WT*%5@5A9:@H>9=A5>*KE>=A5C:>*I:C*)@>*"7M5
!

!
!
!
!

1@&@F<:K8@9@&J;&FAF<@P:&N@&;=<:9AG;&^J@&:Q8A9:&@8&Q?A;9AQA=&N@&8:&;=<:9AG;&P@;FJ?:8&
N@ & 4?:;9= & N@ & C=8=;A: & : & R:8=?@F & P:F & K?@R@F5 & )=F & 9=PQ=FA<=?@F & 9J@;<:; & 9=; & J;&
FAF<@P:&N@&=?>:;Ah:9AG;&?M<PA9:&^J@&8@F&N:K:&>?:;&8AK@?<:N5&#F<=&N:&8J>:?&:&NAF<A;<=F&
@L@9<=F & PJFA9:8@F & 9=P= & @8 & N@8 &<7\E:9E> *cJ;:F & R=9@F & 9:;<:; & I & =<?:F & 9:88:;&
A;<@?9:PKA:;N=&FJ&Q:Q@8&?mQAN:P@;<@B
):&PUFA9:&@;&>@;@?:8&F@&9=PQ8A9:(&:Q:?@9@;&8:F&FM;9=Q:FH&8=F&?A<P=F&N@F:SJF<:N=F&I&
8:&Q=8A??A<PA:5&#8&>?:N=&N@&9=PQ8A9:9AG;&LJ@&@;&:JP@;<=&E:F<:&^J@&N@F@PK=9G&@;&J;&
@F<A8= & N@ & PUFA9: & PJI & ?@LA;:N= & I & F=8= & :Q<: & Q:?: & @;<@;NAN=FH & 9=;=9AN: & 9=P= & %?F&
1JK<A8A=?5
1@ & 9=PA@;h: & : & N@F:??=88:? & @8 & 9=;<?:QJ;<= & ^J@ & 9=;<A;U: & N@FQJbF & 9=; & 8=F&
9=PQ=FA<=?@F&L?:;9=7L8:P@;9=F5
%Q:?A9AG;&N@&8=F&9=PQ:F@F&KA;:?A=F5
C:N: & R@h & F@ & 9=PQ=;@ & P:F & 9:;<AN:N & N@ & PUFA9: & Q?=L:;:5 & ): & 9:;9AG; & Q=8ALG;A9:&
Q?=L:;:&LJ@&PJI&9J8<AR:N:5
#8&P=<@<@&F@>JA?m&FA@;N=&8:&L=?P:&PJFA9:8&P:F&APQ=?<:;<@5&,@F:Q:?@9@;&<=<:8P@;<@&
=?>:;:&I&9=;NJ9<A5

XT*#:G=8:*C5*G7@K5*%7@5C
#F&8:&:Q=?<:9AG;&PmF&APQ=?<:;<@&N@&8:&A>8@FA:&8J<@?:;:5&1J&;:9APA@;<=&F@&Q?=NJS=&Q=?&
@8&A;<@;<=&N@&)J<@?=&N@&^J@&8:&P:I=?&Q:?<@&N@&8:&9=;>?@>:9AG;&N@&LA@8@F&A;<@?RA;A@F@&@;&@8&
9:;<=5&#F<=&;=&@?:&Q=FAK8@&FA&@8&ANA=P:&@?:&@8&8:<M;&I&8:F&P@8=NM:F&;=&@?:;&8=9:8@FH&Q=?&8=&^J@&
:N:Q<G&P@8=NM:F&Q=QJ8:?@F&9:PKAm;N=8@F&@8&<@D<=&?@8A>A=F=&Q=?&=<?=&Q?=L:;=&@;&8:&8@;>J:&
N@8 & QJ@K8=5 & %FM & ;:9AG & J;: & 9=PQ=FA9AG; & K:F:N: & @; & L?:>P@;<=F & PJFA9:8@F & Q=QJ8:?@F & @;&
:8@Pm;5&$JI&Q?=;<=H&EJK=&J;:&<@;N@;9A:&:8&@;?A^J@9APA@;<=&P@NA:;<@&@8&:9=PQ:W:PA@;<=&
N@&G?>:;=&I&8:&:NA9AG;&N@&=<?:F&R=9@F&Q:?:&@8&?@88@;=&:?PG;A9=5&%?P=;Ah:N=&:&R:?A:F&R=9@F&
^J@&F@&PJ@R@;&E=P=LG;A9:P@;<@H&8=F&R:8=?@F&?M<PA9=F&F=;&PJI&?@>J8:?@F&I&N@F9:;F:;&@;&
J;&9:8N@?G;&9:?:9<@?MF<A9=&Q:?:&F@W:8:?&@8&LA;:8&N@&8:&L?:F@5&)=F&9=?:8@F&F@&=?N@;:;&F@>U;&@8&
<A@PQ=&N@8&:W=&8A<U?>A9=H&NAF<A;>JA@;N=&<?@F&9A98=FH&@8&9A98=&N@&+:RAN:NH&@8&N@&3:F9J:&I&@8&N@&
8:&.@L=?P:&N@&)J<@?=5

fT*#:G=8:*C5*G7@K5*(5I@=J5C,*
#F & 8: & L=?P: &PJFA9:8& Q?=L:;:&PmF& APQ=?<:;<@ & N@8 & .@;:9APA@;<=5 &1@ &<?:<: & N@& J;:&
9=PQ=FA9AG;&Q=8ALG;A9:&N@&9:?m9<@?&N@F9?AQ<AR=&^J@&Q?@<@;N@H&:&<?:RbF&N@&8:&J;AG;&N@&8@<?:&I&
PUFA9:H&@DQ?@F:?&8=F&F@;<APA@;<=F&N@8&E=PK?@&9=P=&F@?&Q?=L:;=5&#;&J;&Q?A;9AQA=&<?:<:K:;&
<@P:F & Q:F<=?A8@F & Q@?= & Q?=;<= & F@ & @D<@;NAG & :8 & <@??@;= & F:<M?A9= & I & EJP=?MF<A9=5 & )=F & <@D<=FH&
Q?=L:;=F&I&@;&8@;>J:&R@?;m9J8:H&<@;M:;&PJ9E:F&L=?P:FH&N@FN@&@8&F=;@<=&:&8=F&R@?F=F&8AK?@F5&
#;&8=&^J@&?@FQ@9<:&:&8:&PUFA9:H&F@&FJ@8@&A;<@?Q?@<:?&:&9J:<?=&=&9A;9=&R=9@F&I&:&9:Q@88:H &
:J;^J@&<:PKAb;&QJ@N@;&88@R:?&:9=PQ:W:PA@;<=5&1@&K:F:&@;&J;:&APA<:9AG;&P=<MRA9:H&9=;&
Q:?<@F&E=P=LG;A9:F&I&J;:&@8@R:N:&@DQ?@FARAN:N&:N:Q<:N:&:8&<@D<=H&N@&L=?P:&^J@&8:&PUFA9:&
N@F9?AK@&@8&FA>;ALA9:N=&N@&8:F&Q:8:K?:F5&f<A8Ah:&J;:&8@;>J:S@&PJFA9:8&PJI&NALM9A8H&9J8<=&I&Q:?: &
PA;=?M:Fz&9?=P:<AFP=FH&8:&8@;>J:&RJ8>:?H&=;=P:<=Q@I:FH&@<95H&<=N=&@;9:PA;:N=&:&^J@&8:&
PUFA9:&?@F:8<@&@8&F@;<AN=&N@&8:&8@<?:5&
#8&P:N?A>:8&@F&@8&8@;>J:S@&N@&J;:&98:F@&F@8@9<:&N@8&.@;:9APA@;<=H&@F&8:&@DQ?@FAG;&
8M?A9: & N@8 & F@? & EJP:;= & ^J@ & 9:;<: & FJF & RAR@;9A:F & I & F@;<APA@;<=F5 & 1@ & N: & @; & :PKA@;<@F&
6_

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

9=?<@F:;=F&N=;N@&@F&PmF&LJ@?<@&@8&:PKA@;<@&Q?=L:;=&cY@;@9A:H&/;>8:<@??:BH&@D:8<:;N=&J;=F&
F@;<APA@;<=F&F@;FJ:8@F&I&:P=?=F=F5

gT*4E:89:>*L5@5*:C*:>9EI=7*I:*C5*KQ>=A5*=8>9@EK:895C*I:C*/:85A=K=:897
!
!
!

/;F<?JP@;<=F&9=;F@?R:N=F(&;=F&Q@?PA<@;&R@?&N@&9@?9:&9GP=&@?:;&I&9GP=&Q?=NJ9M:;&
8=F&F=;AN=Fz&:&Q:?<A?&N@&@88=F&F@&QJ@N@;&E:9@?&?@Q?=NJ99A=;@F&I&<@;@?&P@S=?&AN@:&N@&
FJ&F=;AN=5
4J@;<@F&A9=;=>?mLA9:F(&8:F&QA;<J?:F&I&@F9J8<J?:F&N@&8:&bQ=9:&PJ@F<?:;&9GP=&@?:;&
@F=F&A;F<?JP@;<=FH&Q:?:&^Jb&LA;@F&F@&JF:K:;H&9GP=&F@&:>?JQ:K:;555&
4J@;<@F&N=9JP@;<:8@F(&@;&@F<:&bQ=9:&:Q:?@9@;&I:&<?:<:N=F&PJFA9:8@FH&@F&N@9A?&8AK?=F&
<@G?A9=F&F=K?@&PUFA9:&^J@&9=;<A@;@;&N@F9?AQ9A=;@F&N@&A;F<?JP@;<=FH&A8JF<?:9A=;@FH&
Q:?<A<J?:FH & <:K8:<J?:FH & @<95 & #; & =<?=F & @F9?A<=FH & F=K?@ & 9J:8^JA@? & <@P:H & Q=N@P=F&
@;9=;<?:?&<:PKAb;&?@L@?@;9A:F&:&8=F&A;F<?JP@;<=FH&FJ&JF=&I&FJF&:>?JQ:9A=;@F5&

dT * |%E[C:> * >78 * C7> * L@=8A=L5C:> * =8>9@EK:897> * KE>=A5C:> * I:C*

/:85A=K=:897}*
!
!
!
!
!

c+=&E:?M:&L:8<:&Q=;@?8=F&<=N=FB&
CJ@?N: & QJ8F:N:( & 8:UNH & <A=?K:H & :?9EA8:UNH & 9EA<:??=;@H & RAEJ@8:H & F:8<@?A=H & RA?>A;:8H&
@FQA;@<:H&98:R@H&:?Q:&
CJ@?N:&Q@?9J<AN:(&<IPQ:;=;&I&98:RA9=?NA=&
CJ@?N:&L?=<:N:(&RA=8:F&cRA=8:&N:&>:PK:H&RA=8:&K:F<:?N:H&RA=8:&9=;<?:8<=H&RA=8:&<@;=?H&
RA=8:&Nn:P=?@H&&cQ=9E@<<@BH&RA=8M;H&RA=8=;9E@8=&I&RA=8=;@&c9=;<?:K:S=B&
YA@;<=( & L8:J<: & N@ & QA9=H & L8:J<: & <?:R@F@?:H & QML:;=H & 9=?;:PJF:H & 9EA?APM:H & 9?=P=?;=H&
K=PK:?N:H&<?=PQ@<:H&<?=PQ:H&F@?Q@;<G;H&F:9:KJ9E@H&G?>:;=5&
3@?9JFAG;(&;m9:?:F&c<APK:8@FB&@9E@8@<<@&cDA8GL=;=B

oT*#:G=8:*C5*G7@K5*7@597@=7
& & & & & %8 & A>J:8 & ^J@ & 8: & GQ@?:H & J;@& PUFA9: & I & <@D<= &Q@?= & FA;& N?:P:<Ah:9AG;5 & )=F& <@D<=F & F=;&
?@8A>A=F=FH&KMK8A9=F&=&N@&9:?m9<@?&:8@>G?A9=5&C=;F<:&N@&8=F&PAFP=F&@8@P@;<=F&^J@&8:&GQ@?:(&
=K@?<J?:H&?@9A<:<AR=FH&:?A:F&I&9=?=FH&^J@&Q:?<A9AQ:?m;&@;&8:&:99AG;5
&&&&&#8&=?:<=?A=&:Q:?@9@&F=K?@&<=N=&Q=?^J@&E:KM:&P=P@;<=F&:&8=&8:?>=&N@8&:W=&9=P=&+:RAN:NH&
CJ:?@FP:H&=&1@P:;:&1:;<:&@;&^J@&8:&A>8@FA:&R@M:&P:8&8:F&?@Q?@F@;<:9A=;@F&N@&GQ@?:5&#8&
=?:<=?A=&FJ?>@&9=P=&J;:&:8<@?;:<AR:&?@8A>A=F:&:8&=<?=&@FQ@9<m9J8=&Q?=L:;=5
&&&&&#;&Q?A;9AQA=&@?:;&J;:F&?@J;A=;@F&9=;&LA;@F&:Q=F<G8A9=F&9@8@K?:N:F&@;&@8&*?:<=?A=&cF:8G;&
N@ & =?:9AG;B & N=;N@ & :N@PmF & N@ & 9J@F<A=;:?F@ & <@P:F & N@ & :?<@H & LA8=F=LM:H & 8A<@?:<J?:555H & F@&
A;<@?Q?@<:K:;&9A@?<:F&=K?:F&PJFA9:8@F&F=K?@&<@D<=F&KMK8A9=F5
& &&&&,@;<?=&N@&8:F&LA>J?:F&PmF&APQ=?<:;<@FH&N@F<:9:;&%5@=>>=K=*I&)T*1A5@C599=&:J;^J@&@8&
9=PQ=FA<=?&P:F&APQ=?<:;<@&N@&=?:<=?A=F&@F &Zh8I:C *^J@&9=PQJF=&V!5&,@F<:9:; &f=5(2$
8('(K.+H&E(9&$I&F=K?@&<=N=&@8&PmF&9=;=9AN=H&%&$8.2D(25

+eT*|~Ei*:>*C5*A5K:@595*GC7@:89=85}
):F & C:P@?:<:F & 8:F & L=?P:K:; & >?JQ=F & N@ & Q=@<:FH & PUFA9=FH & 8A<@?:<=F & c@; & >@;@?:8H&
EJP:;AF<:FB&^J@&:8&:PQ:?=&N@&NAR@?F=F&P@9@;:F&F@&?@J;M:;&Q:?:&E:K8:?&N@&9A@;9A:H&:?<@H&
8A<@?:<J?:555
#; & 48=?@;9A: &FJ?>AG &8: & C:P@?:<: &48=?@;<A;: &= &C:P@?:<: & `:?NA& N=;N@ &F@& NAF9J<M:&
F=K?@&8:F&L:9J8<:N@F&N@&8:&PUFA9:&>?A@>:5&1@&Q?@<@;N@&E:9@?&?@;:9@?&8:&L=?P:&N@&"@:<?=&@;&
6a

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

0?@9A:&Q:?<A@;N=&N@&8:&K:F@&N@&^J@&bF<@&@F&9:;<:N=&I&N@&<@Pm<A9:&PA<=8G>A9:&d&P=?:8Ah:;<@&
F@>U; & 8:F & A;R@F<A>:9A=;@F & N@ & 0A?=8:P= & $@A5 & $UFA9=F & 9=P= & Y5 & 0:8A8@=H & 3@?AH & C:99A;A & I&
$=;<@R@?NA&L=?P:K:;&Q:?<@&N@&@F<@&9M?9J8=5
1J?>@&:FM&8:&P:;@?:&N@&@F9?AKA?&=K?:F&PJFA9:8@F&K:S=&@F<:F&Q?@PAF:F&^J@&F@?m;&8:&
K:F@ & N@ & 8: & GQ@?:H & N=;N@ & J;: & P@8=NM: & :9=PQ:W:N: & @DQ?@F: & J;: & F@?A@ & N@ & F@;<APA@;<=F&
PA@;<?:F&9J@;<:&J;&:?>JP@;<=H&J;:&EAF<=?A:5&1@&9=;F@?R:;&N=F&GQ@?:F&N@&']OOH&8:F&N=F&9=;&
@8&PAFP=&;=PK?@H &%=-D5/'.B& N@ &3:@= *I &%5AA=8= *Q@?=&@;&@88:F&E:K?m&F=8:P@;<@&JF=&N@8&
?@9A<:<AR=5
): & GQ@?: &3-4.+& N@ & $=;<@R@?NA & N@ & ']O_ & @F & 9=;FAN@?:N: & 8: & Q?AP@?: & GQ@?: & @; & @8&
F@;<AN=&9=PQ8@<=&I:&^J@&@8&:J<=?&@PQ8@G&J;:&P:I=?&R:?A@N:N&N@&?@9J?F=F&I&P@NA=F&9=P=&
:?A:F&=&9:;9A=;@F&N@&N:;h:5&":PKAb;&9=PQJF=&=<?:H&G-/(5)(&@;&']Oa&N@&8:&^J@&F=8=&;=F&
^J@N:&@8&):P@;<=5

++T*-5*1E=9:*^5@@7A5
"?:F & 8:F & FJA<@F & N@8 & .@;:9APA@;<= & I & N@8 & Q?AP@? & `:??=9=H & L=?P:N:F & Q=? & N:;h:F&
9=;<?:F<:N:F & cQ:R:;: & I & >:88:?N:BH & @;<?@ & ']6O & I & '_XO & FJ?>@ & @; & %8@P:;A: & 8: & FJA<@ & Q:?:&
=?^J@F<: & 9=P= & J;: & F@?A@ & N@ & N:;h:F & 9=;<?:QJ@F<:F & @; & NAF<A;<=F & ?A<P=FH & ^J@ & FA>J@; & 8=F&
@F^J@P:F&N@&K:88@<&I&8:F&GQ@?:F&N@&)J88I5&
3=?&<:;<=H&8:&FJA<@&@F&J;:&=K?:&L=?P:N:&Q=?&R:?A:F&N:;h:F&N@&NAF<A;<=&9:?m9<@?&Q:?:&<@98:&
J&=?^J@F<:H&@F<:;N=&<=N:F&@88:F&@;&8:&PAFP:&<=;:8AN:N&c=&<=;:8AN:N&?@8:<AR:B5&#8&;UP@?=&N@&
N:;h:F&@F&R:?A:K8@H&Q=?&8=&^J@&F@&8@&E:&N@;=PA;:N=&L=?P:&:KA@?<:5&
C=P=&L=?P:&=?^J@F<:8&FJ@8@&<@;@?&@F<:F&9:?:9<@?MF<A9:F(&9=PA@;h:&9=;&J;&Q?@8JNA=&=&
A;<?=NJ99AG;H & FA>J@; & J; & ;UP@?= & R:?A:K8@ & N:;h:F & c:88@P:;N@ & X{XH & <@PQ= & P=N@?:<=z&
9=??@;<@H & & = & V{aH & R@8=hz & h:?:K:;N:H & 8@;<: & I & @; & <A@PQ= & <?AQ8@z & >A>:H & @; & ]{a & I&
9=;<?:QJ;<MF<A9:B5&%8>J;:F&N:;h:F&F@&@F9?AK@;&@;&Q:?@FH&9=P=&K=J??b@&/&=&K=J??b@&//5

+UT*|~Ei*:>*E85*7F:@9E@5}*&;LC=A5*C7>*I=G:@:89:>*9=L7>
#<AP=8G>A9:P@;<@&FA>;ALA9:&qQA@h:&Q:?:&:K?A?rH&Q=?&8=&^J@&F@?RM:&Q:?:&N:?&9=PA@;h=&:&
=K?:F & N@ & >?:;N@F & NAP@;FA=;@F & cGQ@?:FH & =?:<=?A=F555B5 & 1@?RM: & N@ & Q?G8=>= & Q:?: & ^J@ & 8=F&
@FQ@9<:N=?@F&F@&F@;<:F@;&I&@8&:PKA@;<@&F@&Q?@Q:?:F@&Q:?:&@8&N?:P:5&&$mF&:N@8:;<@&<@;N?m&
=<?:F & LJ;9A=;@F & 9=P= & Q?@Q:?:? & @8 & :PKA@;<@ & N@ & 8: & GQ@?:H & A;98JF= & Q?@F@;<:? & FJF & <@P:F&
APQ=?<:;<@F5&
):F&Q?AP@?:F&=K@?<J?:F&@?:;&L:;L:??A:F&Q:?:&88:P:?&8:&:<@;9AG;&I&<@;M:;&;=PK?@F&<:;&
R:?A:N=F & 9=P=&<=9:<:&= &FA;L=;M:5 &%&LA;:8@F&N@8&FA>8= &[Y//&@F<:&QA@h:&A;F<?JP@;<:8&<=P:&
L=?P:&N@LA;A<AR:&@;&N=F&R:?A:;<@F(
! *K@?<J?: & L?:;9@F:( & C?@:N: & Q=? & )J88IH & 9=;FAF<@ & @; & N=F & P=RAPA@;<=F( & J;= & 8@;<=H&
Q=PQ=F=H&9=;&@8&9:?:9<@?MF<A9=&?A<P=&^J@&Q?=NJ9@&8:&FJ9@FAG;&N@&;@>?:&9=;&QJ;<A88=&I&
9=?9E@:z&I&J;&F@>J;N=&P=RAPA@;<=&R@8=hH&@;&@F<A8=&APA<:<AR=H&^J@&QJ@N@&<@?PA;:?&@;&
J;&9=?<=&<A@PQ=&8@;<=5
! *K@?<J?:&;:Q=8A<:;:(&/;<?=NJ9AN:&Q=?&19:?8:<<AH&9=;F<:&N@&<?@F&F@99A=;@F(&:88@>?=&c@;&
@F<A8=&9=;<?:QJ;<MF<A9=BH&:N:>A=&I&:88@>?=&cA;L8JAN=&Q=?&8:&N:;h:B5&

+VT*%=95*C5>*L@=8A=L5C:>*?L:@5>*I:*bT*)T*(7`5@9T
):F & ?@L=?P:F & N@ & 08J9 & <JRA@?=; & FJF & P@S=?@F & L?J<=F & @; & J;= & N@ & 8=F & P:I=?@F & >@;A=F&
PJFA9:8@F&N@&<=N=F&8=F&<A@PQ=F(&g=8L>:;>&%P:N@JF&$=h:?<5&#F&8:&>?:;&LA>J?:&N@&8:&GQ@?:&
66

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

N@8&FA>8=& [Y///z&FJ&>?:;&RA?<JN&9=;FAF<@&@;&:J;:?&8=&P@S=?&N@&8:F&9=??A@;<@F&=Q@?MF<A9:F&
A<:8A:;:H&L?:;9@F:&I&:8@P:;:H&Q:?:&9?@:?&J;&;J@R=&@F<A8=5&CJ8<AR:&NAR@?F=F&<AQ=F&N@&GQ@?:(
!
!
!
!

):&F@?A:&@;&U)3/"("3&I&A%&+$"/"(P%&)*&K*,35
#8&FA;>FQA@8&:8@Pm;&9=;&6$&!%5,3&"(&"$&1"!!%$$3&=&A%&;$%.,%&/S#*+%5
):&GQ@?:&KJL:&@;&A%1&'3)%1&)"&]J#%!3&=&831o&;%(&,.,,"&f>1J&3'!%(&,3)%1Y5
#8&,?:PP:&>A=9=F=&@;&:3(&M*3<%((*Z

+WT*#=G:@:8A=5>*:89@:*?L:@5*>:@=5*D*?L:@5*FEG5T
\3#.%&1#./%
1JF&<@P:F&F=;&J;&9=;L8A9<=&N@&Q:FA=;@F&
K:F:N=&@;&@F9?A<=?@F&98mFA9=F&>?A@>=F&=&
?=P:;=F5&#F&N@9A?H&<@P:F&N@&9:?m9<@?&
PA<=8G>A9=5
#8&N?:P:&F@&N@F:??=88:&@;<?@&N=F&Q:?@S:F&N@&
:P:;<@F&I&Q@?F=;:S@F&F@9J;N:?A=F5&
%Q:?@9@&PJI&L?@9J@;<@P@;<@&@8&<A?:;=&
P:>;m;AP=5
C=;F<:&N@&<?@F&:9<=FH&^J@&F=;&J;:&FJ9@FAG;&
N@&?@9A<:<AR=F&I&:?A:F5&):&:99AG;&F@&
N@F:??=88:K:&@;&@8&?@9A<:<AR=&cPJ9E:F&R@9@F&
@;&L=?P:&N@&NAm8=>=&@;<?@&Q@?F=;:S@FBH&I&
8=F&F@;<APA@;<=F&=&@P=9A=;@F&F@&
@DQ?@F:K:;&@;&@8&:?A:5

\3#.%&`f4%
"@Pm<A9:&F=9A:85&C?M<A9:&N@&8:&98:F@&P@NA:&:&
8:&:?AF<=9?:9A:&N@8&:;<A>J=&?b>AP@;5&

)=F&Q@?F=;:S@F&;=&F=;&NA=F@F&FA;=&Q@?F=;:F&
N@&8:&98:F@&P@NA:H&@8&;J@R=&QUK8A9=&N@8&
@FQ@9<m9J8=&=Q@?MF<A9=5
f;=&=&N=F&:9<=F5&1@&A;<@;<:&FJ:RAh:?&8:&
<?:;FA9AG;&@;<?@&?@9A<:<AR=&I&:?A:5&)@;>J:S@&
PJFA9:8&PmF&:;AP:N=5&/;;=R:9A=;@F&@;&8:&
@F9?A<J?:&R=9:8&cK:8KJ9@=FH&9=?<@FH&
9:??@?A88:FH&F:8<=FH&@<95BH&L?:F@F&PJFA9:8@F&
PJI&9=?<:FH&L?@9J@;<@F&?@Q@<A9A=;@F&I&
:KJ;N:;<@F&9:N@;9A:F5
3=9=F&9:;<=?@FH&FA;&9=?=&I&9=;&J;:&Q@^J@W:&
=?^J@F<:5&/;<?=NJ99AG;&N@&@8@P@;<=F&
L=898G?A9=F5

3J@N@&E:K@?&NU=FH&F@&@PQ8@:;&Q=9=F&
9=;SJ;<=F&I&?:?:P@;<@&9=?=F5&#;&
9=;F@9J@;9A:H&@8&:?A:&@F&8:&>?:;&
Q?=<:>=;AF<:&N@&@F<:&GQ@?:
#F9?A<:&Q:?:&J;&QUK8A9=&:?AF<=9?m<A9=
,A?A>AN:&:&J;&QUK8A9=&KJ?>JbF5
Y=9@F&APQ=F<:N:F5&3:Q@8@F&PJI&L?@9J@;<@F& Y=9@F&;:<J?:8@F&P:F9J8A;:F&I&L@P@;A;:F5&
Q:?:&9:F<?:N=F5
%Q:?A9AG;&N@8&K:S=&KJL=5

+XT*%7KL5@5*>78595B*>=8G78H5*D*A78A=:@97T

#8 & @F^J@P: & N@ & 8: & F=;:<: & N@ & 9J:<?= & P=RAPA@;<=F & F@ & QJ@N@ & :N:Q<:? & : & NAL@?@;<@F&
@F^J@P:F&A;F<?JP@;<:8@F5&C:N:&J;=&N@&@88=F&N:&;=PK?@&:&J;:&L=?P:&PJFA9:8&K:F:N:&@;&
@88:(
! 1=8=FH&NU=FH555&I&PUFA9:&N@&9mP:?:&@;&>@;@?:8(&1=;:<:5
! *?^J@F<:&FA;LG;A9:(&1A;L=;M:5
! *?^J@F<:&FA;LG;A9:&9=;&F=8AF<:&cI&FA;&@8&<@?9@?&P=RAPA@;<=(&PA;J@<=B(&C=;9A@?<=5

+fT*|~Ei*I=G:@:8A=5>*<5D*:89@:*:C*AC5M:*D*:C*L=587}
+T #8&98:R@&@F&J;&A;F<?JP@;<=&N@&9J@?N:&QJ8F:N:5&#8&QA:;=&@F&J;&A;F<?JP@;<=&N@&9J@?N:&
Q@?9J<AN:5
UT #8&98:R@&;=&Q@?PA<@&P:<A9@F&NA;mPA9=F5&#8&QA:;=&FM&Q@?PA<@&P:<A9@F&NA;mPA9=F &I&
:N@PmF&Q=F@@&<?@F&Q@N:8@F&^J@&P=NALA9:;&I&@;?A^J@9@;&FJF&Q=FAKA8AN:N@F&F=;=?:F5
VT #8&98:R@&@F&J;&A;F<?JP@;<=&^J@&F@&>@;@?:8Ah:&@;&@8&.@;:9APA@;<=&I&@8&`:??=9=5&#8&
'OO

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

QA:;= & F@ & A;R@;<: & @; & @8 & `:??=9=H & Q@?= & F@ & >@;@?:8Ah: & : & Q:?<A? & N@8 & C8:FA9AFP= & I & FJ&
?@Q@?<=?A=&F@&@D<A@;N@&E:F<:&8:&:9<J:8AN:N5
WT ):&@D<@;FAG;&N@8&QA:;=&c_&=9<:R:FB&@F&P:I=?&^J@&8:&N@8&98:R@&cZ&=9<:R:FB5

+gT*|~Ei*:>*E8*-=:I*@7K[89=A7}

)A@N & @F & J;: & Q:8:K?: & :8@P:;: & ^J@ & FA>;ALA9: & 9:;9AG;5 & 1A; & @PK:?>=H & 9=P= & L=?P:&
PJFA9:8 & <A@;@ & J;: & :9@Q9AG; & PmF & 9=;9?@<:( & @F & J;: & 9:;9AG; & Q:?: & R=h & F=8AF<: & 9=;&
:9=PQ:W:PA@;<=&N@&QA:;=H&@;&@8&9J:8&@8&QA:;=&9=PQ:?<@&Q=?&A>J:8&8:&<:?@:&N@&Q?@F<:?&:Q=I=H&
A8JF<?:?&@&AN@;<ALA9:?&@8&FA>;ALA9:N=&N@&8:&Q=@FM:5&

+dT*':K5>B*L:@>785N:>*D*CEJ5@:>*I:*C5*?L:@5*@7K[89=A5
#8&<@P:&Q?A;9AQ:8&N@&8:&GQ@?:&?=Pm;<A9:&@F&@8&:P=?5&1A@PQ?@&@F&J;&:P=?&:Q:FA=;:N=&
I & @;RJ@8<= & @; & 9A?9J;F<:;9A:F & <?m>A9:FH & :P=?@F & ;= & 9=??@FQ=;NAN=F & = & :P=?@F & APQ=FAK8@F5&
%J;^J@&@DAF<@;&LA;:8@F&L@8A9@FH&PJ9E=F&:9:K:;&9=;&@8&:F@FA;:<=&=&@8&FJA9ANA=5&#;&9J:;<=&:&
8=F&Q@?F=;:S@FH&F=;&PJI&R:?A:N=FH&Q@?=&E:I&Q=9=F&9@?9:;=F&:&8:&RAN:&9=<ANA:;:&I&9AJN:N:;:(&
PmF & KA@; & F=; & ;=K8@FH & N@8A;9J@;<@FH & 9:PQ@FA;=FH & >J@??@?=FH & @<95z & <:PKAb; & :Q:?@9@; & 9=;&
L?@9J@;9A: & Q@?F=;:S@F & F=K?@;:<J?:8@FH & L:;<mF<A9=F & = & N@ & 8@I@;N:5 & ): & :99AG; & FJ@8@&
N@F:??=88:?F@&@;&9=;<@D<=F&@R=9:N=?@F&I&FJ>@?@;<@F(&F@&QJ@N@;&FA<J:?&@;&@8&Q:F:N=H&=&@;&
Q:MF@F&8@S:;=Fz&&:KJ;N:;&8:F&@F9@;:F&@;&K=F^J@F&I&9:F<A88=FH&I&J;&@F9@;:?A=&?@9J??@;<@&@F&8:&
;=9E@H&^J@&9=KAS:&:&8=F&:P:;<@F&I&@F&@8&9=;<@D<=&Q@?L@9<=&Q:?:&8:&<?:A9AG;&I&@8&:F@FA;:<=5&

+oT*$8I=A5*AE59@7*L:\E:S5>*G7@K5>*F@:M:>*L5@5*L=587*
!
!
!
!
!
!
!
!
!
!
!
!

`:8:N:5&C=PQ=FA9AG;&N@&9:?m9<@?&8M?A9=&I&P@8:;9G8A9=5&
`:?9:?=8:5&*K?:&^J@&APA<:&8:F&9:;9A=;@F&N@&K:?^J@?=F&=&>=;N=8@?=F5&
#8@>M:5&*K?:&N@&9=?<:&NJ?:9AG;H&<?AF<@&I&P@8:;9G8A9:5&
#F<JNA=5&3A@h:&RA?<J=FMF<A9:&N@F<A;:N:&:&N@F:??=88:?&J;:&<b9;A9:5&
/PQ?=PQ<J5&3@^J@W:&QA@h:&N@&9:?m9<@?&APQ?=RAF:<=?A=H&N@&:EM&8@&RA@;@&FJ&;=PK?@5&
8;<@?P@hh=5&Y=9:K8=&J<A8Ah:N=&Q:?:&N@FA>;:?&Q@^J@W:F&=K?:F&N@&QA:;=5&
$:hJ?9:5&,:;h:&N@&=?A>@;&Q=8:9=H&N@&?A<P=&P=N@?:N=5&#F&N@&9:?m9<@?&Q=QJ8:?&I&Q:F:&
:&L=?P:?&Q:?<@&N@8&?@Q@?<=?A=&9J8<=5&
+=9<J?;=5 & 3A@h: & QA:;MF<A9: & N@ & 9:?m9<@? & A;<APAF<: & I & F@;<AP@;<:8z & @8 & >b;@?= & @F&
A;R@;<:N=&Q=?&@8&A?8:;NbF&k=E;&4A@8N&I&8=&9J8<AR:H&F=K?@&<=N=H&CE=QA;5&
3=89:5&3A@h:&N@&=?A>@;&9E@9=H&^J@&<A@;@&FJ&:Q=>@=&@;&@8&FA>8=&[/[&@;&`=E@PA:H&N@FN@&
N=;N@&A;R:N@&=<?=F&Q:MF@F5&
3=8=;@F:5&,:;h:&N@&=?A>@;&Q=8:9=H&;=K8@H&N@&?A<P=&P:S@F<J=F=&I&:&R@9@F&>J@??@?=5&):&
88@R:&:&FJ&9J8P@;&CE=QA;H&@;&QA:;=5&
3?@8JNA=5&*K?:&N@&9:?m9<@?&:Q:FA=;:N=5&
.:QF=NA:5&3A@h:&N@&9:?m9<@?&L:;<mF<A9=H&K:F:N:&@;&<@P:F&Q=QJ8:?@F5&

UeT*|~Ei*:>*C5*KQ>=A5*L@7J@5K[9=A5}*

1@&@;<A@;N@&Q=?&PUFA9:&Q?=>?:Pm<A9:&8:&PUFA9:&FA;LG;A9:&^J@H&FA;&J<A8Ah:?&Q:8:K?:F&=&
<@D<=H & A;<@;<: & : & <?:RbF & U;A9:P@;<@ & N@ & 8=F & F=;AN=F & N@F9?AKA? & :8>=H & 9=;<:? & J; & Q?=>?:P:&
8A<@?:?A=&=&J;:&EAF<=?A:&^J@&@F&8:&^J@&9=;NJ9@&8:&=K?:5

U+T*&8EK:@5*5CJE85>*A5@5A9:@H>9=A5>*I:C*85A=785C=>K7*KE>=A5C,
!

#8 & +:9A=;:8AFP= & @F & J;: & ?@:99AG; & 9=;<?: & 8: & @D9@FAR: & A;L8J@;9A: & N@8 & FA;L=;AFP=&
:8@Pm;&I&N@&8:&GQ@?:&A<:8A:;:&@;&=<?=F&Q:MF@F
'O'

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!
!
!
!
!
!

1@&K:F:&@;&8:&:FAPA8:9AG;&Q=?&Q:?<@&N@&8=F&9=PQ=FA<=?@F&N@&8=F&9:?:9<@?@F&@FQ@9MLA9=F&
N@8 & L=898=?@ & :J<G9<=;= & ^J@ & J<A8Ah:?m; & Q:?: & 8: & 9?@:9AG; & c?A<P=FH & @F9:8:FH & >A?=F&
P@8GNA9=FH&@F<A8=&A;F<?JP@;<:8555B&I&Q:?:&@DQ?@F:?F@&9=P=&;:9A=;@F5&
#8 & <@P: & 9@;<?:8 & ;= & F@?m; & 8:F & L=?P:F & ^J@ & F=; & 8: & @DQ?@FAG; & N@ & J;: & F=9A@N:N&
:?AF<=9?m<A9:H&FA;=&8:&N:;h:&I&8:&9:;9AG;&Q=QJ8:?5
`UF^J@N:&N@&8:&J;AG;&@;<?@&8:&PUFA9:&I&8:&Q=@FM:&Q?=QA:&N@&9:N:&Q:MF
#8 & ?@9J??A? & :8 & L=898=?@ & 88@R: & : & ;J@R=F & 8@;>J:S@F & c@P:;9AQ:9AG; & P=N:8H & @F9:8:F&
Q@;<:<G;A9:FH&E@Dm<=;:FH555B
/;9=?Q=?:9AG;&:&8:&=?^J@F<:&N@&;J@R=F&A;F<?JP@;<=F&N@&Q@?9JFAG;&I&;J@R=F&@L@9<=F&
9=8=?AF<:F&@;&8:&=?^J@F<:9AG;
3=?&8:&PAFP:&?:hG;H&@F<:&PUFA9:&<A@;@&J;:&@FQ@9A:8&?A^J@h:&P@8GNA9:

UUT * %=95 * C5> * L@=8A=L5C:> * :>AE:C5> * 85A=785C=>95> * A78 * >E> * K[;=K7>*

@:L@:>:89589:>
!
!
!
!
!

&.JFA:&( &$AE:A8&08A;: &I&@8&0?JQ=&N@&8=F&CA;9=(&$5&`:8:A?@RH&CbF:?&CJAH&$=N@F<&

$JFF=?>FIH&+A9=8:A&.APFI&i=?F:=R&I&%8@D:;N@?&`=?=NA;5
&.@QUK8A9:F&CE@9:&I&#F8=R:9:&(&`@N?A9E&1P@<:;:&I&%;<G;&,R=?:
&#F9:;NA;:RA:&( & 4?:;h & `@?l:8 & c1J@9A:BH & C:?8 & +A@8F@; & c,A;:P:?9:BH & #NR:?N & 0?A@>&
c+=?J@>:B&I&k:;&1AK@8AJF&c4A;8:;NA:B
&TJ;>?M:&(&`@8:&`:?<=&I&j=8<m;&i=N:8I
&#FQ:W:&(&4?:;9AF9=&%F@;S=&`:?KA@?AH&4@8AQ@&3@N?@88H&/F::9&%8Kb;AhH&#;?A^J@&0?:;:N=F&
I&$:;J@8&N@&4:88:

UVT*#=G:@:8A=5>*:89@:*`5@`E:C5*J@58I:*D*Ji8:@7*A<=A7*
!
!
!
!
!
!
!
!
!
!
!
!

j:?hJ@8:&>?:;N@(&
)=&;=?P:8&F=;&<?@F&:9<=Fz&P@;=F&L?@9J@;<@&N=FH&I&@D9@Q9A=;:8P@;<@&9J:<?=5&C:N:&
:9<=&9=;&9A;9=&=&F@AF&;UP@?=F&PJFA9:8@F5&
Y:;&Q?@9@NAN:F&N@&J;&Q?@8JNA=&^J@&Q?@Q:?:&@8&:PKA@;<@&I&Q@?PA<@&8:&:Q@?<J?:&N@8&
<@8G;5&
#F<@&Q?@8JNA=&R:&F@>JAN=&N@&8:&@;<?:N:&N@&J;&>?:;&9=?=H&>@;@?:8P@;<@&N@&LJ@?<@&9=8=?&
EAFQ:;=H&9=;&@8&^J@&9=PA@;h:;&9:FA&<=N=F&8=F&:9<=F5&
#DAF<@&J;&Q?@N=PA;A=&N@8&<@D<=&9:;<:N=&F=K?@&@8&E:K8:N=H&I&F=;&L?@9J@;<@F&8=F&<@P:F&
N@&9:?m9<@?&EAF<G?A9=&@FQ:W=8&N=;N@&:Q:?@9@&@8&L=898=?@(&S=<:FH&F@>JANA88:FH555&
):F&?@Q?@F@;<:9A=;@F&F@&8=9:8Ah:K:;&9:FA&FA@PQ?@&@;&$:N?ANH&Q=?&8=&^J@&:KJ;N:K:;&
8=F&<@P:F&9:F<Ah=F5&
#F<:K:;&NA?A>AN:F&:&8:F&98:F@F&Q=QJ8:?@F&I&:&8:&Q@^J@W:&KJ?>J@FM:5&
0b;@?=&9EA9=(&
f;&F=8=&:9<=&9=PQJ@F<=&Q=?&9J:<?=H&9A;9=&=&F@AF&;UP@?=F&N@&PUFA9:H&PmF&K?@R@F&^J@&
8=F&N@&8:&h:?hJ@8:&>?:;N@5&
1@&A;A9A:&9=;&J;:&A;<?=NJ99AG;&=?^J@F<:8&:9=PQ:W:N:&N@&J;&;UP@?=&9=?:85&
$@;=?&Q?@F@;9A:&N@&;UP@?=F&9=?:8@F&I&bF<=FH&L?@9J@;<@P@;<@H&:8&J;MF=;=5&
+UP@?=&N@&Q@?F=;:S@F&?@NJ9AN=H&N@&<?@F&:&9A;9=5&+=&:Q:?@9@;&E:KA<J:8P@;<@&
Q@?F=;:S@F&9J8<=FH&8:&P:I=?M:&E:K8:;&A;9=??@9<:P@;<@5&
C:?m9<@?&PJI&Q=QJ8:?&N@&8:&PUFA9:H&9=;&L?@9J@;9A:&N@&9=PQ:F@F&N@&V{a&I&]{aH&NU=F&
@;&<@?9@?:F&Q:?:8@8:FH&N@9=?:9A=;@F&EAFQ:;:FH&@F9:8:&:;N:8Jh:H&@<95&
$J9E=F&;UP@?=F&PJFA9:8@F&@F<m;&<=P:N=F&N@&9:;9A=;@?=F&Q=QJ8:?@F&=&N@&PUFA9:&N@&
F:8G;&cR:8FH&E:K:;@?:H&P:hJ?9:H&9E=<AFH&<:;>=H&@8&Q:F:9:88@&=&Q:F=N=K8@BH&9=;&@FQ@9A:8&
'O!

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

!
!
!

Q?@F@;9A:&N@8&L=898=?@&:;N:8Jh&I&N@&8:&S=<:5&
3=9:F&@DA>@;9A:F&R=9:8@F&:&8=F&9:;<:;<@F&cQ=9:&@D<@;FAG;&I&Q=9=&RA?<J=FAFP=BH&Q=?&8=&
^J@&Q?@N=PA;:&PmF&8:&L:9@<:&N@&:9<=?&^J@&N@&9:;<:;<@5&
3?@N=PA;A=&N@8&<@D<=&N@98:P:N=&F=K?@&@8&9:;<:N=5&
"?:<:&<@P:F&9=;<@PQ=?m;@=F5

UWT*%5@5A9:@H>9=A5>*J:8:@5C:>*I:*C5*9785I=CC5*:>Ai8=A5*
!

%?>JP@;<=F&F@;9A88=F&9=;&APQ=?<:;9A:&N@&8=&9=F<JPK?AF<:H&Q=QJ8:?&I&F:<M?A9=&^J@&F@&
@F9@;ALA9:K:;&@;&8=F&A;<@?P@NA=F&N@&8:F&9=P@NA:F&=&:&F=8:F&

3=9=F&Q@?F=;:S@FH&<=N=F&Q@?<@;@9A@;<@F&:8&QJ@K8=H&@;<?@&8=F&^J@&N@F<:9:&@8&^J@&
9J@;<:&8:&:99AG;&

"@P:F&?@8:9A=;:N=F&9=;&8=&9=<ANA:;=&N@F<A;:N=F&:&NAR@?<A?H&9?A<A9:?H555&9=;&P=?:8@S:&
LA;:8&

3J@N@;&@F<:?&E@9E:F&Q:?:&J;:&=&R:?A:F&R=9@F&:W:NAb;N=F@&@;&=9:FA=;@F&8=F&9=?=F5&

):&@F<?J9<J?:&PJFA9:8&I&N?:Pm<A9:&N@&8:&<=;:NA88:&F=8M:&F@?&<?AQ:?<A<:(&%`C5&#F&N@9A?H&
J;:&Q?AP@?:&Q:?<@&N=;N@&F@&Q?@F@;<:K:&8:&AN@:&=&A;<?=NJ99AG;H&J;:&F@>J;N:&^J@&
F=;&8:F&9=Q8:F&I&J;:&<@?9@?:H&@8&LA;:8H&^J@&F=8M:&<@?PA;:?&@;&J;:&F@>JANA88:&

):&<=;:NA88:&F@&A;FQA?:K:&9:FA&FA@PQ?@&@;&@8&L=898=?@&@FQ:W=8H&Q=?&8=&^J@&@?:&J;:&
PUFA9:&N@&9:?:9<@?MF<A9:F&;:9A=;:8@FH&9=;&P@8=NM:F&I&?A<P=&@FQ:W=8@F5&fF:K:&N:;h:F&
9=P=&8:&F@>JANA88:H&<A?:;:H&L:;N:;>=H&L=8M:H&@<95H&:FM&9=P=&A;F<?JP@;<=F&EAFQ:;=F&
9=P=&8:&>JA<:??:&I&8:F&9:F<:WJ@8:F

UXT*&8EK:@5*5CJE85>*A5@5A9:@H>9=A5>*I:C*=KL@:>=78=>K7*KE>=A5C

+T &/;L8J@;9A:F&P=N:8@F&(&)=F&9=PQ=FA<=?@F&FA@;<@;&^J@&E:;&:>=<:N=&8:F&Q=FAKA8AN:N@F&N@&
8:&@F9:8:&P:I=?&I&P@;=?&Q=?&8=&^J@&KJF9:;&A;FQA?:9AG;&@;&8=F&P=N=F&P@NA@R:8@FH&
F=K?@&<=N=&@8&L?A>A=&I&8ANA=5&fF:;&A;<@?R:8=F&N@&XtH&ZtH&at&@;&P=RAPA@;<=&Q:?:8@8=&8=&
9J:8&N=<:&:&8:&PUFA9:&N@&J;&9:?m9<@?&:?9:A9=5
UT &/;<@?bF&Q=?&8=&=?A@;<:8&H&8=&@DG<A9=H&8=&9J:8&8@&88@R:&&:8&JF=&N@&=<?:F&@F9:8:F&9=P=&Q=?&
@S@PQ8=&8:&@F9:8:&Q@;<:<G;A9:5
VT &C:PKA=F&@;&8:&:?P=;M:&(&#8&:9=?N@&F@&9=;FAN@?:&J;:&@;<AN:N&A;N@Q@;NA@;<@&I&8:&
:<?:99AG;&E:9A:&8:&<G;A9:&F@&N@KA8A<:5&):&<=;:8AN:N&@;<?:&@;&9?AFAF5&T:I&9A@?<:&
<@;N@;9A:&E:9A:&8:&@P:;9AQ:9AG;&N@&8:&NAF=;:;9A:5&#PQ8@=&9=PU;&N@&;=<:F&Q@N:8@F&
9=;FA>JA@;N=&<=N=&<AQ=&N@&@L@9<=F
WT &C:PKA=F&=?^J@F<:8@F&(&1@&KJF9:;&;J@R:F&F=;=?AN:N@F&I&Q=?&@F=&F@&A;<?=NJ9@;&
A;F<?JP@;<=F&:;<@F&Q=9=&J<A8Ah:N=F&9=P=&@8&:?Q:H&Q:?:&9=;F@>JA?&NAF<A;<=F&@L@9<=F&
<MPK?A9=F5&):&=?^J@F<:&F@&J<A8Ah:&:&R@9@F&Q=?&Q8:;=F&F=;=?=F5
XT &,AF<A;<=&9=;9@Q<=&N@&?A<P=&(&T:I&9A@?<:&<@;N@;9A:&:&=9J8<:?&@8&9=PQmFH&L=?Pm;N=F@&
@;&8:&PUFA9:&APQ?@FA=;AF<:&J;&L8JA?&9=;<A;J=&N=;N@&:&R@9@F&;=&@F&Lm9A8&F@>JA?&@8&
QJ8F=5

UfT*|~Ei*:>*:C*I7I:A5G78=>K7}*%=95*C7>*5E97@:>*D*7F@5>*K[>*=KL7@9589:>

#8&,=N@9:L=;AFP=&@F&J;&FAF<@P:&N@&9=PQ=FA9AG;&N@;<?=&N@8&:<=;:8AFP=H&K:F:N=&@;&
@8&JF=&N@&8:F&'!&;=<:F&N@&8:&@F9:8:&9?=Pm<A9:&^J@&F@&=?>:;Ah:;&@;&F@?A@F&F@>U;&@8A>@&@8&
9=PQ=FA<=?5&+=&E:I&S@?:?^JM:&@;&8:F&F@?A@F&N@&F=;AN=F5&"=N=F&<A@;@;&8:&PAFP:&APQ=?<:;9A:5&
):F&F@?A@F&<A@;@;&FA@PQ?@&'!&F=;AN=F&JF:N=F&9=;&>?:;&8AK@?<:N&:J;^J@&;=&F@&QJ@N@&?@Q@<A?&
;A;>J;=&N@&@88=F&E:F<:&^J@&;=&E:;&FAN=&J<A8Ah:N=F&<=N=F5
'OV

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

)=F&P:F&APQ=?<:;<@F&?@Q?@F@;<:;<@F&N@8&N=N@9:L=;AFP=&F=;&8=F&&9=PQ=FA<=?@F&N@&8:&
1@>J;N:&#F9J@8:&N@&YA@;:(
!
!
!

&%?;=8N&19E;K@?>&N@F<:9G&9=;&FJF&j&5*"P%1&5%!%&5*%(3&I&2%!*%+*3("1&5%!%&
3!0."1,%&35Z&kl
):&=K?:&P:F&9:?:9<@?MF<A9:&N@&%8K:;&`@?>&@;&@F<@&@F<A8=&@F&FJ&83(+*"!,3&5%!%&<*3$J(Z
&%;<=;&g@K@?;&LJ@&<:PKAb;&:8JP;=&N@&19E;K@?>5&4J@&^JA@;&P:F&@DQ@?AP@;<G&
N@;<?=&N@8&8@;>J:S@&N=N@9:LG;A9=5&,@F<:9:;&FJ&83(+*"!,3&5%!%&i&*(1,!./"(,31&I&
4*(;3(J%&35Z&mlZ

UgT*|~Ei*:>*C5*KQ>=A5*5C:597@=5}
):&PUFA9:&:8@:<=?A:&F@&K:F:&@;&8:&J<A8Ah:9AG;&N@8&:h:?&=&N@&8:&A;N@<@?PA;:9AG;&@;&@8&
P=P@;<=&N@&8:&9=PQ=FA9AG;&=&N@&8:&@S@9J9AG;&N@&8:&=K?:&PJFA9:85&3?@9AF:P@;<@&@8&;=PK?@&
N@&:8@:<=?A:&8@&RA@;@&N@&8:&Q:8:K?:&8:<A;:&:8@:H&^J@&FA>;ALA9:&N:N=FH&E:9A@;N=&:8JFAG;&:8&:h:?5
CJ:;N= & 8: & A;N@<@?PA;:9AG; & F@ & :Q8A9: & :8 & :9<= & N@ & 8: & 9=PQ=FA9AG; & FJ?>@ & 8= & ^J@ & F@&
88:P:;&4=?P:F&C@??:N:F5&#F&Q=?&@S@PQ8=&9J:;N=&:8>J;:F&:8<J?:FH&NJ?:9A=;@FH&A;<@;FAN:N@FH&
<APK?@F & I& =<?=F & Q:?mP@<?=F &N@& 8: & Q:?<A<J?: &@F9?A<: & F@ & N@9AN@; &Q=? &@8 & :h:?& c@9E:;N= & 8=F&
N:N=FH&8:;h:;N=&P=;@N:F&=&9=F:F&FAPA8:?@FB5&):&=<?:&Q=FAKA8AN:N&@F&9J:;N=&@8&9=PQ=FA<=?&
N@S: & N@<@?PA;:N: & 8AK@?<:N & :8 & A;<b?Q?@<@ & Q:?: & ^J@ & bF<@ & N@9AN:H & @; & @8 & P=P@;<= & N@ & 8:&
@S@9J9AG;H&8:&L=?P:&LA;:8&N@&8:&=K?:H&Q=?&8=&^J@&F@&<?:<:&N@&4=?P:F&%KA@?<:F5&3=?&FJQJ@F<=&
QJ@N@;&9=PKA;:?F@&:PK:F&L=?P:F5

UdT*#=G:@:8A=5>*:89@:*C5*KQ>=A5*A78A@:95*D*C5*KQ>=A5*:C:A9@?8=A5
):&NAL@?@;9A:&@;<?@&PUFA9:&9=;9?@<:&I&PUFA9:&@8@9<?G;A9:&@F&FJ&P@<=N=8=>M:&=H&Q:?:&
F@?&PmF&@D:9<=H&@8&P:<@?A:8&N@&Q:?<AN:5
):&PUFA9:&9=;9?@<:&9=;FAF<@&@;&>?:K:?&F=;AN=F&cPJFA9:8@F&I&;=&PJFA9:8@FB&I&?JAN=F&
9=;9?@<=FH&<:8@F&9=P=&>=8Q@FH&>?A<=FH&?JAN=&N@&P=<=?@FH&9:;<=&N@&QmS:?=FH&PJ>AN=FH&@<95H&:&
8=F&^J@&F@&88:P:&=KS@<=F&F=;=?=F5&#F<:F&>?:K:9A=;@F&F=;&8J@>=&F@8@99A=;:N:F&c:8>J;:F&F@&
@8APA;:;BH & NAF<=?FA=;:N:F & @8@9<?G;A9:P@;<@ & c9=; & LA8<?=FH & ?@R@?K@?:9AG;H & @9=H & @<95B & I&
LA;:8P@;<@&F@&9=PKA;:;&L=?P:;N=&J;:&@FQ@9A@&N@&P=;<:S@&F=;=?=7PJFA9:85&#8&9=PQ=FA<=?&
<?:K:S:&FG8=&9=;&F=;AN=&>?:K:N=&I&8:&=K?:&LA;:8&FG8=&@DAF<@&@;&L=?P:&N@&>?:K:9AG;5&)J@>=&F@&
?@Q?=NJ9@&Q=?&P@NA=F&@8@9<?=:9UF<A9=F5
3=?&FJ&Q:?<@H&8:&PUFA9:&@8@9<?G;A9:&Q?=NJ9@&8=F&F=;AN=F&Q=?&P@NA=F&@D98JFAR:P@;<@&
N@ & FM;<@FAFH & @F & N@9A?H & Q=? & P@NA= & N@ & J; & >@;@?:N=? & @; & L=?P: & N@ & FA;<@<Ah:N=? & = & :Q:?:<=F&
@8@9<?G;A9=F5

'OX

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

$+"@A%33(%!01726%:092>0/B;B26?
':K5*e+T*-5*K787IH5*@:C=J=7>5*D*L@7G585*:8*C5*&I5I*(:I=5T
q3:?: & :Q?@;N@? & J;: & P@8=NM: & N@F9=;=9AN: & ;= & N@K@P=F & ?@9J??A? & FA@PQ?@ & : & 8: & R=h & N@ & J;&
E=PK?@&=&:8&F=;AN=&N@&J;&A;F<?JP@;<=H&Q:?:&R=8R@?;=F&A;9:Q:9@F&N@&:R:;h:?&FA;&J;:&>JM:H&
9=P=&9A@>=F5&3=?&@8&9=;<?:?A=&<@;@P=F&^J@&LAS:?&@;&8=&PmF&Q?=LJ;N=&N@&8:&P@P=?A:&8:F&
NAL@?@;9A:F&I&Q?=QA@N:N@F&NAF<A;<AR:F&N@&9:N:&F=;AN=&I&N@&9:N:&N@F9@;F=&=&@8@R:9AG;&N@&8:&
R=hy & #; & @L@9<=H & 9J:;N= & @PQ@9b & : & @;F@W:? & @F<@ & Pb<=N= & : & 8=F & ;AW=FH & :8>J;=F & N@ & @88=F&
8=>?:?=;&9:;<:?&:;<@F&N@&<?@F&NM:F&P@8=NM:F&N@F9=;=9AN:Fy):&FA>JA@;<@&P@8=NM:&@F&N@&8:&
^J@&P@&FA?R=&Q:?:&@;F@W:?&:&8=F&PJ9E:9E=F(

0JAN=&Nn%?@hh=(&65*1,3$%&)"&*#(3,3&+%(,.&c9:5&'O!aB5

3.#0f+"%15
:B&uwJb&R@;<:S:F&<A@;@&@8&Pb<=N=&N@&@;F@W:;h:&PJFA9:8&^J@&N@F9?AK@&0JAN=&N%?@hh=v&
KB&uwJb&<A@;@&N@&Q:?<A9J8:?&@8&EAP;=&g,&0."%(,&$%=*1v&
9B&uwJb&=<?=F&:R:;9@F&:Q=?<G&0JAN=&N%?@hh=&:&8:&;=<:9AG;&PJFA9:8v

'OZ

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*eUT*-7>*7@HJ:8:>*I:*C5*L7C=G78H5T
)=F&P=N@?;=F&y<A@;@;&Q=9=&?@FQ@<=&:&8=F&:;<A>J=F&P:@F<?=FH&FJF&P:I=?@FH&I&:FM&PmF&
KA@; & ?@9E:h:; & 9=; & 8=F & E@9E=F & cQ@F@ & : & 8= & ^J@ &QJ@N:; & N@9A? & 9=; & FJF & Q:8:K?:FB & 8: & KJ@;:&
N=9<?A;: & N@ & :^J@88=FH & 9:PKAm;N=8: & @; & :8>J;:F & Q:?<@FH & 9=??=PQAb;N=8:H & ?@Q?=Km;N=8:H&
:;J8m;N=8:& y&JF:;&J;&;J@R=&P=N= &N@&9:;<:?&I&:K:;N=;:;&@8&:;<A>J=H&E:9@;&J;& JF=&
@D9@FAR=&N@&8:F&P@NAN:F&APQ@?L@9<:FH&<A@;@;&:LA9AG;&Q=?&8:F&;=<:F&F@PAK?@R@FH&^J@&88:P:;&
PM;AP:FH&I&?@9E:h:;&8:F&9=PQ=FA9A=;@F&:;<A>J:F(&=?>:;:H&9=;NJ9<JFH&P=<@<@FH&E=^J@<JF&:&
N=F&I&:&<?@F&R=9@Fz&y&9=PQ=;@;&NAF9:;<JF&FJ<A8@F&I&NALM9A8@F&N@&9:;<:?&I&N@&P@NA?5
k:9=KJF&N@&)A@S:(&45"+.$./&/.1*+%"&c9:5&'V!XB5
3.#0f+"%1
:B&uwJAb;@F&F=;&8=F&qP=N@?;=Fr&I&N@&^Jb&8@F&:9JF:&k:9=KJF&N@&)A@S:v&&
KB&uwJb&F=;&8:F&P@NAN:F&APQ@?L@9<:Fp&
9B&uCJm8@F&F=;&8:F&L=?P:F&:;<A>J:Fv&uCJm8@F&8:F&P=N@?;:F&I&Q=?&^Jb&F@&9:?:9<@?Ah:;v&

'O]

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*eVT*-5*KQ>=A5*M7A5C*:8*:C*/:85A=K=:897T
q"=N:F & 8:F & 9=F:F & N@K@; & @F<:? & =?N@;:N:F & N@ & <:8 & P:;@?: & ^J@ & 8:F & PAF:FH & F@ & 9@8@K?@; & 9=;&
PUFA9:&=&;=H&88@>J@;&<?:;^JA8:P@;<@&:&8=F&=MN=F&I&9=?:h=;@F&N@&:^J@88=F&^J@&8:F&@F9J9E@;H&
9J:;N=&<=N=&F@&@S@9J<@&9=;&98:?AN:N&I&R@8=9AN:N&9=??@9<:5&#;&@8&9:F=&N@&:^J@88:F&PAF:F&^J@&
F@&9@8@K?@;&9=;&9:;<=&I&G?>:;=H&^J@&@;&@88:F&;:N:&Q?=L:;=&F@&@;<?@P@h98@H&FA;=&F=8=&EAP;=F&
I&Q?@9@F&NARA;:F5&
,@K@ & 9=;F<A<JA?F@ & <=N= & @8 & Q8:; & N@8 & 9:;<= & F@>U; & 8=F & P=N=F & PJFA9:8@F & ;= & Q:?: & ^J@&
Q?=Q=?9A=;@&J;&Q8:9@?&R:9M=&:&8=F&=MN=FH&FA;=&N@&<:8&L=?P:&^J@&8:F&Q:8:K?:F&8:F&@;<A@;N:;&
98:?:P@;<@&<=N=F&I&:FM&@8&9=?:hG;&N@&8=F&=I@;<@F&F@&R@:&:??:F<?:N=&:&N@F@:?&8:F&:?P=;M:F&
9@8@F<A:8@F&@;&8:&9=;<@PQ8:9AG;&N@8&SUKA8=&N@&8=F&K@;NA<=F555&":PKAb;&F@&N@F<@??:?m&N@&8:&
A>8@FA:&<=N:&PUFA9:&^J@&9=;<@;>:H&KA@;&@;&@8&9:;<=&=&@;&8:&@S@9J9AG;&N@8&G?>:;=H&9=F:F&^J@&
F@:;&8:F9AR:F&=&APQJ?:Fr5
#D<?:9<=F&N@&8:F&:9<:F&N@8&&C=;9A8A=&N@&"?@;<=&&c'ZXZ7'Z]VB5
3.#0f+"%15
:B&u1@>U;&@8&<@D<=H&Q:?:&^Jb&N@K@?M:&F@?RA?&8:&PUFA9:&@;&8:F&PAF:F&I&Q:?:&^Jb&;=v&
KB&uCGP=&N@K@&F@?&8:&PUFA9:&Q:?:&9=;F@>JA?&@F<=F&LA;@Fv&
9B&uwJb&P=<ARG&8:&9=;R=9:<=?A:&N@8&C=;9A8A=&N@&"?@;<=v

'O_

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*eWT*-5*KQ>=A5*=8>9@EK:895C*:8*:C*/:85A=K=:897T
q#8&<:W@N=?&F=K?@&<=N:F&8:F&9=F:F&<@;>:&J;&:RAF=H&I&@F&^J@H&:8&Q=;@?&8:&PUFA9:H&;=&@9E@&
>8=F:F&FA;=&N@&8:&P:;@?:&^J@&@F<m&QJ;<:N=&F@&E:&N@&Q=;@?5&1A&8:&PUFA9:&N@&8:&8@I&RA@S:H&Q=?&
FJ&Q@F:NJPK?@H&E:KM:&P@;@F<@?&>8=F:?H&8:&N@&@F<=F&<A@PQ=F&;=&<A@;@&;@9@FAN:N5&+=&Fb&9GP=&
QJ@N@ & @F9:Q:? & J; & <:W@N=? & N@ & P:89?A:N=H & A>;=?:;<@ & I & :<?@RAN= & FA & 8:F & >8=F:5 & YA@;@ & J;&
C?AF<GK:8&N@&$=?:8@FH&^J@&@F&8Jh&N@&#FQ:W:&@;&8:&PUFA9:H&I&J;&`@?;:?NA;=&N@&4A>J@?=:H&^J@&
@F&U;A9=&@;&E:KA8AN:N@FH&I&F=K?@&@F<JNA=&>:F<:;&PJ9E=&<A@PQ=&@;&9=PQ=;@?&J;&P=<@<@H&I&
J;=&^J@&;=&F:K@&9:;<=&88:;=H&Q=?^J@&J;&NM:&FJQ=&Q=;@?&8:F&P:;=F&@;&@8&G?>:;=H&F@&8=F&
^JA@?@&@;P@;N:?5&uwJb&=<?:&9=F:&@F&@9E:?&>8=F:F&:&J;:&=K?:H&FA&;=&Q?@<@;N@?&@;P@;N:?8:v&
3=;@?&QJ;<=F&N@P:FA:N=F&8=F&9J:8@F&@8&9=PQ=;@N=?&;=&QJF=r
4?:I&kJ:;&`@?PJN=(&:"+$%!%+*I(&)"&*(1,!./"(,31&/.1*+%$"1&c'ZZZB5
3.#0f+"%15
:B&uwJb&@F&>8=F:?v&
KB&u3=?&^JbH&F@>U;&`@?PJN=H&8:&PUFA9:&:;<A>J:&N@KM:&F@?&>8=F:N:&I&8:&:9<J:8&;=v&
9B&uwJAb;&LJ@&C?AF<GK:8&N@&$=?:8@Fv&

'Oa

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*eXT*-5*KQ>=A5*=8>9@EK:895C*:8*:C*^5@@7A7T
q#;&8:&bQ=9:&N@&`:9EH&@8&RA=8M;&IH&@;&P@;=?&P@NAN:H&@8&RA=8=;9E@8=&E:KM:;&A;A9A:N=&I:&
FJ&P:?9E:&<?AJ;L:8&@;&8:&Q=K8:N:&SJ;>8:&N@&8=F&A;F<?JP@;<=F&K:??=9=FH&?@>AN:&<:PKAb;&Q=?&
8:&8@I&N@8&PmF&LJ@?<@&I&;=&@D@;<:&N@&N@Q?@N:N=?@F&;A&N@&RM9<AP:F5&%J;^J@&F:8A@?=;&:A?=F=F&
@;&8:&NALM9A8&8J9E:&Q=?&8:&FJQ@?RAR@;9A:H&:PK=F&Q:?@9M:;&9=;N@;:N=F&KA@;&:&8:&:>?JQ:9AG;&
9=;&FJF&9=;>b;@?@FH&KA@;&:&8:&9=PQ:WM:&N@&A;F<?JP@;<=F&Q=8ALG;A9=F&9:Q:9@F&N@&<@S@?&@8&
@;<?:P:N=&:?PG;A9=&^J@&:^Jb88=FH&@;&Q?A;9AQA=H&;=&Q=NM:;&9?@:?&Q=?&FM&PAFP=Fyr
&&&&&&&

&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&)JAF&C:?8=F&0:>=&q`:9Er

3.#0f+"%1(
:B C=P@;<:&K?@R@P@;<@&8:&APQ=?<:;9A:&N@8&RA=8M;&I&@8&RA=8=;9E@8=&@;&
8:&=?^J@F<:&K:??=9:5
KB #DQ8A9: & 8: & @DQ?@FAG; & q:PK=F & Q:?@9M:; & 9=;N@;:N=F & : & 8: & :>?JQ:9AG; & 9=; & FJF&
9=;>b;@?@Fr5
9B u% & ^Jb & A;F<?JP@;<=F & Q=8ALG;A9=F & F@ & ?@LA@?@ & @8 & :J<=? & 9=P= & q9:Q:9@F & N@ & <@S@? & @8&
@;<?:P:N=&:?PG;A9=rv

'O6

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*efT*-5*KQ>=A5*M7A5C*:8*:C*^5@@7A7T
q#;&8=F&<A@PQ=F&@;&^J@&L8=?@9M:&@;&48=?@;9A:&8:&P@?A<MFAP:&C:P@?:<:&N@8&/8JF<?MFAP=&
1@W=?&0A=R:;;A&`:?NAH&9=;N@&N@&Y@?;A=H&:&8:&^J@&9=;9J??M:&;=&FG8=&>?:;&Q:?<@&N@&8:&;=K8@h:H&
FA;=&<:PKAb;&8=F&PmF&;=<:K8@F&PUFA9=F&I&E=PK?@F&N@&A;>@;A=H&I&Q=@<:F&I&LA8GF=L=F&N@&8:&
9AJN:NH & 8: & L?@9J@;<b & I= & <:PKAb; & I & QJ@N= & N@9A? & ^J@ & E@ & :Q?@;NAN= & PmF & N@ & FJF & F:KA=F&
?:h=;:PA@;<=F&^J@&@;&<?@A;<:&:W=F&N@&E:9@?&9=;<?:QJ;<=y
YA@;N=H&QJ@F&9=P=&NA>=H&^J@&@F<:&PUFA9:&I&@F<=F&PUFA9=F&;=&@?:;&9:Q:9@F&N@&Q?=NJ9A?&
=<?: &F:<AFL:99AG;&^J@&8: &:?P=;M:&Q=NM:&N:?&:8&=MN=H&QJ@F<=&^J@&;=&Q=NM:;&9=;P=R@? & @8&
@;<@;NAPA@;<=&FA&;=&@;<@;NM:;&8:F&Q:8:K?:FH&P@&RA;=&8:&AN@:&N@&9?@:?&J;:&98:F@&N@&PUFA9:&
9=;&8:&9J:8&LJ@?:&Q=FAK8@&9:FA&E:K8:?&9=;&8:&:?P=;M:H&9=;&J;&9A@?<=&;=K8@&N@FNb;&Q=?&@8&
9:;<=H&Q@?=&P:;<@;A@;N=&FA@PQ?@&LA?P@&8:&9J@?N:&N@8&K:S=H&@D9@Q<=&9J:;N=&^J@?M:&F@?RA?P@&
N@&b8&F@>U;&@8&JF=&9=PU;H&9=;&8:F&Q:?<@F&A;<@?P@NA:F&<=9:N:F&Q=?&8=F&A;F<?JP@;<=F&Q:?:&
@DQ?@F:?&:8>U;&F@;<APA@;<=H&QJ@F<=&^J@&;=&FA?R@;&Q:?:&=<?:&9=F:yr
&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&C:99A;A&q):&;J@R:&PUFA9:r5
3.#0f+"%1(
:B wJb&@?:&8:&C:P@?:<:&N@8&F@W=?&`:?NAv
KB #DQ8A9:&^Jb&@F&qP:;<@;@?&LA?P@&8:&9J@?N:&N@8&K:S=r&I&:&^Jb&F@&?@LA@?@5
9B uwJb & & FA>;ALA9: & ^J@ & q8=F & PUFA9=F & ;= & Q=NM:; & 9=;P=R@? & @8 & @;<@;NAPA@;<= & FA & ;=&
@;<@;NM:;&8:F&Q:8:K?:Frv

''O

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*egT*-5*KQ>=A5*=8>9@EK:895C*:8*:C*%C5>=A=>K7T
q#;&J;&@F<A8=&@;&@8&^J@H&9=P=&=9J??@&@;&8:&:9<J:8AN:N&9=;&@8&N@&8=F&:8@P:;@FH&E:I&J;:&
P@h98@ & N@ & QJ@K8=F & NAL@?@;<@FH & 9:N: & ;:9AG; & E:88: & :8>= & 9=; & 8= & ^J@ & <A@;@ & :LA;AN:N & IH & Q=?&
9=;FA>JA@;<@H & ;J;9: & QJ@N@ & NAF>JF<:?8@5 & %8 & ?@L8@DA=;:? & F=K?@ & <=N=F & 8=F & Q@;F:PA@;<=F & I&
@DQ@?A@;9A:F & P@;9A=;:N:F & :;<@?A=?P@;<@yE:I & ^J@ & 9=;9@N@? & J;: & Q?@L@?@;9A: & :8 & @F<A8=&
A<:8A:;=&QJ?=&F=K?@&@8&L?:;9bF&N@&A>J:8&9:<@>=?M:5&1A;&@PK:?>=H&N@KAN=&:&^J@&@8&Q?AP@?=&I:&
;= & @F<m & @;?:Ah:N= & 9=; & 8: & PAFP: & LJ@?h: & ^J@ & :;<@F & I & F@ & E: & 9=;R@?<AN= & @; & :<?@RAN= & I&
@D<?:R:>:;<@H&I&^J@&@8&F@>J;N=&F@&E:&9=;F@?R:N=&N@P:FA:N=&F@;9A88=H&<=N=&@8&PJ;N=&@F<:?m&
N@&:9J@?N=&@;&^J@&J;&@F<A8=&@;&@8&^J@&F@&P@h98@;&I&LJ;N:;&8=F&KJ@;=F&@8@P@;<=F&N@&:PK=F&
N@K@?m&F@?H&FA;&NJN:&:8>J;:H&PmF&J;AR@?F:8&I&:>?:N:K8@5&3J@F&J;&@F<A8=&N@&PUFA9:&^J@&F@:&
?@9AKAN=&&I&:9@Q<:N=&Q=?&PJ9E=F&QJ@K8=F&I&;=&FG8=&Q=?&J;:&F=8:&;:9AG;H&J;:&F=8:&?@>AG;H&=&
J;:&<A@??:&@;&Q:?<A9J8:?z&J;&@F<A8=&N@&PUFA9:&^J@H&N@KAN=&:&8:F&?:h=;@F&:QJ;<:N:FH&FG8=&
@;9=;<?:?m&:Q?=K:9AG;H&N@K@?m&F@?H&FA&<:PKAb;&F@&LJ;N:&@;&J;&SJA9A=&F:;=&I&@;&F@;<APA@;<=F&
KJ@;=FH&@8&P@S=?&N@&<=N=Fr5
&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&k5k5wf%+"j&q*;&Q8:IA;>&<E@&L8J<@r5
3.#0f+"%1(
:B u#;&^Jb&P@NAN:&8:&A;<@?;:9A=;:8Ah:9AG;&N@&8:&RAN:&I&@8&Q@;F:PA@;<=&N@8&[Y///&<JR=&
FJ&@^JAR:8@;<@&@;&PUFA9:v
KB u3=? & ^Jb& @8 &:J<=?& F@ & PJ@F<?: &Q:?<AN:?A= &N@ &J; &@F<A8= &@; &@8 & ^J@& F@& P@h98@; & 8:F&
NAF<A;<:F&Q:J<:F&;:9A=;:8@Fv
9B #DQ8A9: & ^Jb & FA>;ALA9: & @8 & <b?PA;= & q#PQLA;NF:P@A<r & ?@L@?AN= & : & 8: & PUFA9: & N@&
P@NA:N=F&N@8&FA>8=&[Y///5

'''

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*edT*-5*KQ>=A5*M7A5C*:8*:C*%C5>=A=>K7T
q`JF^Jb & 9=;LA;:? & : & 8: & PUFA9: & : & FJ & R@?N:N@?: & LJ;9AG; & N@ & F@?RA? & : & 8: & Q=@FM: & @; & 8:&
@DQ?@FAG;&N@&8=F&F@;<APA@;<=F&I&:&8:F&FA<J:9A=;@F&N@&8:&<?:P:&FA;&A;<@??JPQA?&;A&@;L?A:?&8:&
:99AG;&P@NA:;<@&A;U<A8@F&I&FJQ@?L8J=F&=?;:P@;<=F5&1=I&N@&8:&9?@@;9A:&N@&^J@&8:&PUFA9:&
N@K@&N:?&:&8:&Q=@FM:&8=&^J@&8:&RAR@h:&N@&8=F&9=8=?@F&I&8:F&8J9@F&I&F=PK?:F&KA@;&NAFQJ@F<:F&
9=;<?AKJI@;&:&J;&NAKJS=&KA@;&9=PQJ@F<=H&:;AP:;N=&8:F&LA>J?:F&FA;&:8<@?:?&FJF&9=;<=?;=F5
%N@PmFH&<:PKAb;&F=I&N@&8:&9?@@;9A:&N@&^J@&8:&P:I=?&Q:?<@&N@&PA&8:K=?&@?:&KJF9:?&J;:&
F@;9A88@h&E@?P=F:&I&@RA<:?&J;:&@DEAKA9AG;&N@&NALA9J8<:N@F&:&@DQ@;F:F&N@&8:&98:?AN:N5&+=&E@&
:FA>;:N=&;A;>U;&R:8=?&:8&N@F9JK?APA@;<=&N@&:8>=&;=R@N=F=H&:&P@;=F&^J@&8=&FJ>A?A@F@&N@&
P:;@?:&;:<J?:8&8:&FA<J:9AG;&I&8:&@DQ?@FAG;5&%N@PmFH&;=&EJK=&?@>8:&^J@&;=&9=;FAN@?:F@&9=;&
>JF<=&9=P=&NA>;:&N@&F@?&F:9?ALA9:N:&Q=?&@8&F=8=&P=<AR=&N@&9?@:?&J;&@L@9<=r5
&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&08J9&q3?@L:9A=&N@&%89@F<@r5
3.#0f+"%1(
:B uwJb&APQ=?<:;9A:&<JR=&08J9&@;&8:&?@L=?P:&N@&8:&GQ@?:v
KB #DQ8A9:&8:&@DQ?@FAG;&q8:&P:I=?&Q:?<@&N@&PA&8:K=?&@?:&KJF9:?&J;:&F@;9A88@h&E@?P=F:&
I&@RA<:?&J;:&@DEAKA9AG;&N@&NALA9J8<:N@FrH&?@L@?AN:&:&&8:&GQ@?:&@;&@8&C8:FA9AFP=&L?@;<@&
:&8:&GQ@?:&K:??=9:5
9B u"A@;@&:8>=&^J@&R@?&<:8&?@L=?P:&9=;&8=F&AN@:8@F&N@&8:&/8JF<?:9AG;v&#DQ8M9:8=&
K?@R@P@;<@5

''!

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*eoT*-5*KQ>=A5*=8>9@EK:895C*:8*:C*/7K589=A=>K7T
FC+,3!&9"!$*3P&"1+!*'"&13'!"&$%&4"=,%&1*(;3(J%&)"&9"",73<"(O&qZ&K3!/"(,%&)"&
,!."(31&Z&K"/5"1,%)
q"=?P@;<:H&?:I=F5 &$@ &N@F@FQ@?= &Q=?^J@&A;<@;<= &N:?&J;: &AN@: &N@&@F<: &Q?=NA>A=F:&
QA@h:5&T:I&^J@&=A?8:&Q:?:&9=;9@KA?&@8&>?:N=&N@&R@?N:N&I&FJK8APAN:N&^J@&8:&N@F9?AQ9AG;&@;&
PUFA9:&QJ@N@&:89:;h:?&:&P:;=F&N@&J;&E=PK?@&9=P=&`@@<E=R@;5&#F9J9E:NH&@F9J9E:N&@F<=F&
>=8Q@F&N@&RA@;<=&9:?>:N=F&N@&88JRA:H&@F<=F&F=?N=F&>?JWAN=F&N@&8=F&K:S=FH&@8&:>JN=&FA8KAN=&N@&
8=F&L8:J<A;@F&^J@&:;J;9A:;&8:&<=?P@;<:&<@??AK8@&^J@&@F<m&:&QJ;<=&N@&N@F:<:?F@5&1@&:9@?9:&8:&
<@PQ@F<:NH&F@&@D<A@;N@z&J;&>A>:;<@F9=&>=8Q@&9?=Pm<A9=&^J@&F@&A;A9A:&@;&8=F&A;F<?JP@;<=F&
:>JN=F&F@&?@FJ@8R@&I&N@F9A@;N@&E:F<:&8:F&U8<AP:F&Q?=LJ;NAN:N@F&N@&8:&=?^J@F<:H&F:9JN@&:&8=F&
K:S=F&I&8=F&:??:F<?:&9=;FA>=&PAFP=&H&I&RJ@8R@&:&<?@Q:?&@F<?@P@9Ab;N=F@&9=P=&J;&<=?K@88A;=&
N@&RA@;<=&^J@&?@RJ@89:&:&<=N=&8=&^J@&@;9J@;<?:&:&FJ&Q:F=5&)J@>=&@F<:88:;&8=F&<?=PK=;@FH&:8&
PAFP= & <A@PQ= & ^J@ & @8 & <?J@;= & N@ & 8=F & <APK:8@F & ?@N=K8: & FJ & RA=8@;9A:5 & 2: & ;= & E:I & 88JRA: & ;A&
RA@;<=z&@F&J;&F=K?@9=>@N=?&9:<:98AFP=H&@8&>?:;&NA8JRA=H&@8&LA;&N@8&PJ;N=555
Y@8:N & RJ@F<?=F & ?=F<?=FH & Q=K?@F & @ & A8JF<?@F & Q=@<:F & :;<A>J=FH & Q=K?@F & A;P=?<:8@F5 & YJ@F<?=&
8@;>J:S@ & 9=;R@;9A=;:8H & <:;& QJ?=H &<:; & :?P=;A=F=H & ;= & QJ@N@ & 9=PQ@<A?& 9=; & @8 & :?<@ & N@ & 8=F&
F=;AN=F5&1=AF&>8=?A=F=F&@;&8:&N@??=<:H&Q@?=&@F<mAF&R@;9AN=F5&+=&9=;=9M:AF&8=&^J@&E=I&@;&NM:&
88:P:P=F & P@8=NM:H & :?P=;M:H & 8: & :F=9A:9AG; & N@ & <APK?@F & NAL@?@;<@FH & 8=F & 9=8=?@F&
A;F<?JP@;<:8@FH & 8:F & P=NJ8:9A=;@FH & 8=F & :Q?@;NAN=F & 9=;L8A9<=F & N@ & F=;AN=F & 9=;<?:?A=F & ^J@&
Q?AP@?= & 9=PK:<@; & @;<?@ & FM & I & 8J@>= & F@ & :K?:h:;H & ;J@F<?:F & F=?Q?@F:F & N@8 & =MN=H & ;J@F<?=F&
@D<?:W=F&:9@;<=F&^J@&E:9@;&^J@&?@R@?K@?@h9:;&8:F&Q?=LJ;NAN:N@F&PmF&A;@DQ8=?:K8@F&N@8&
:8P:5
&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&T@9<=?&`@?8A=h(&q%&<?:R@?F&9E:;<Fr&&c3:?MFH&'a6aB
3.#0f+"%1(
:B C=P@;<:&8:&L?:F@&qA;<@;<=&N:?&J;:&AN@:&N@&@F<:&Q?=NA>A=F:&QA@h:5&T:I&^J@&=A?8:&Q:?:&
9=;9@KA? & @8 & >?:N= & N@ & R@?N:N & I & FJK8APAN:N & ^J@ & 8: & N@F9?AQ9AG; & @; & PUFA9: & QJ@N@&
:89:;h:?&:&P:;=F&N@&J;&E=PK?@&9=P=&`@@<E=R@;r5
KB u%&^Jb&F@&?@LA@?@&`@?8A=h&9J:;N=&9?A<A9:&q;=&9=;=9M:AF&8=&^J@&E=I&88:P:P=F&P@8=NM:H&
:?P=;M:H&<APK?@Fyrv
9B C=P@;<:H & 9=P= & J;: & N@ & 8:F & 9:?:9<@?MF<A9:F & N@8 & .=P:;<A9AFP=H & 8=F & 9=;<?:F<@F & q;=&
@D98JI@;<@Fr&N@&@F<:&bQ=9:5

''V

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*+eT*-5*KQ>=A5*M7A5C*:8*:C*/7K589=A=>K7T
1A & ^J@?@P=F & 9=8=9:?;=F & @; & J; & Q8:;= & @F<?A9<:P@;<@ & PJFA9:8H & N@K@P=F & ?@9=?N:? & 8:&
Q?=QA:&N@98:?:9AG;&N@&g:>;@?(r&wJA@;&^JA@?:&^J@&:8&SJh>:?&PA&PUFA9:&F@Q:?@&:?P=;M:&N@&8:&
A;F<?JP@;<:9AG;H&@F&<:;&A;SJF<=&9=;PA>=&9=P=&^JA@;&F@Q:?:&PA&PUFA9:&N@&PA&Q=@FM:H&PA&
9:;<=&N@&8:F&Q:8:K?:Fr5&#F<:&APK?A9:9AG;&N@&8=F&@8@P@;<=FH&N@KAN:&:8&<?AJ;L=&N@&8:&<b9;A9:&N@&
q8:&=K?:&N@&:?<@&<=<:8r&E:9@&NALM9A8H&FA&;=&N@9@Q9A=;:;<@H&<=N=&:;m8AFAF&PJFA9:85&
&
&&&&&&&&&&&&&
&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&C)%f,#&.*1"%+,&q):&PUFA9:&:8@P:;:r&&
3.#0f+"%1(
:B uwJb&FA>;ALA9:&8:&<b9;A9:&N@&8:&q=K?:&N@&:?<@&<=<:8r&l:>;@?A:;:v
&
KB u3=?&^Jb&F@?M:&A;SJF<=H&:&SJA9A=&N@&g:>;@?H&F@Q:?:?&8:&:?P=;M:&N@&8:&A;F<?JP@;<:9AG;&
Q:?:&@;<@;N@?&FJ&PUFA9:v
9B uwJb&Q:Q@8&SJ@>:;&8:&/"$3)J%&*(;*(*,%&I&@8&$"*,/3,*<&@;&8=F&N?:P:F&l:>;@?A:;=Fv

''X

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*++T*-5*KQ>=A5*"5A=785C=>95T
8C1%!&8.*&"1+!*'"&13'!"&"$&r5.\%)3&53)"!313s&fM!.53&)"&$31&8*(+3Y&!.13
q4=?PmK:P=F&J;&9M?9J8=&PJI&@F<?@9E:P@;<@&J;AN=&N@&SGR@;@F&9=PQ=FA<=?@F5&,@KAN=&:&^J@&
;= & E:KM: & FA<A= & NG;N@ & @F<JNA:? & c@8 & 9=;F@?R:<=?A= & ;= & @DAF<M:BH & 9=P@;hG & ;J@F<?:&
:J<=@NJ9:9AG;5 & #F<: & 9=;FAF<M: & @; & <=9:? & @; & FJ & <=<:8AN:N & 9J:8^JA@? & QA@h: & @F9?A<: & Q=? & 8=F&
>?:;N@F&9=PQ=FA<=?@Fz&:N@PmFH&F=P@<M:P=F&:&<=N:F&8:F&=K?:F&:&8:&9?M<A9:&I&@8&:;m8AFAF&@;&
9:N:&J;=&N@&FJF&:FQ@9<=F&<b9;A9=F&I&9?@:<AR=F5&p?:P=F&SGR@;@F&I&;J@F<?=F&SJA9A=F&NJ?=F5&+=&
F@;<M:P=F & ;A;>U; & ?@FQ@<= & E:9A: & $=h:?< & I & $@;N@8FF=E;z & :8 & U8<AP= & 8= & @;L?@;<mK:P=F & :&
19EJP:;;H&:8&^J@H&@;<=;9@FH&<=N=F&A>;=?:K:;5&1@;<M:P=F&J;&>?:;&@;<JFA:FP=&Q=?&)AFh<&I&
`@?A8=F5 & %N=?mK:P=F & & : & CE=QA; & I & : & 08A;:5 & 1=F<@;M:P=F & :9:8=?:N=F & N@K:<@F & c@; & 9JI=&
<?:;F9J?F= & ;=F& K@KM:P=F & ;:N: & P@;=F & ^J@ & 9J:<?= & : & 9A;9= & <:h:F & N@ & <b & :9=PQ:W:N:F & N@&
P@?P@8:N:BH&NAF9J<M:P=F&F=K?@&8:F&L=?P:F&PJFA9:8@FH&8:&PUFA9:&Q?=>?:Pm<A9:H&8:&R=9:8&I&@;&
@FQ@9A:8H&@8&>b;@?=&=Q@?MF<A9=r5
&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&/hK?:;;I@&F<:<nA5&C@F:?&CJA

3.#0f+"%1(
:B '5&uCJm8@F&F=;&8=F&Q?A;9AQ:8@F&LJ;N:P@;<=F&N@&8:&PUFA9:&N@8&0?JQ=&N@&8=F&CA;9=v
KB !5&uC?@@F&^J@&@8&0?JQ=&N@&8=F&CA;9=&F@;<M:&Q?@NA8@99AG;&Q=?&8:&PUFA9:&Q?=>?:Pm<A9:v&
kJF<ALA9:&<J&?@FQJ@F<:5
9B V5&+=PK?:&=<?=F&<?@F&9=PQ=FA<=?@F&;:9A=;:8AF<:F&I&8=F&Q:MF@F&:&8=F&^J@&Q@?<@;@9@;5

''Z

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*+VT*-5*I58`5*D*:C*F5CC:9T
)@F:5E,&555&#;&Q?AP@?&8J>:?H&9J:;N=&@;<?@F&:8&8J>:?&N=;N@&@F<m&8:&9=PQ:WM:&Q?@Q:?:N:&
Q:?:&8:&N:;h:H&@8@>A?mF&J;:&N:P:&E=;@F<:&555&I&:8h:;N=&<J&F=PK?@?=&=&K=;@<@&9=;&8:&P:;=&
Ah^JA@?N:H & 8@ & <@;N@?mF & 8: & P:;= & N@?@9E: & Q:?: & 88@R:?8: & : & K:A8:?5 & #88:H & KA@; & @;F@W:N:H & <@&
<@;N@?m&8:&P:;=&Ah^JA@?N:&I&F@&8@R:;<:?m&Q:?:&F@>JA?<@5&)J@>=&8:&9=;NJ9A?mF&:8&LA;:8&N@8&
F:8G;H&:&8:&RAF<:&N@&<=N=FH&I&:NR@?<A?mF&:&8=F&PUFA9=F&^J@&<=^J@;&J;:&N:;h:&K:S:5&3=?^J@&N@&
=<?=&P=N=H&Q=N?M:;&<=9:?&A;:NR@?<AN=F&9J:8^JA@?&=<?=&<AQ=&N@&N:;h:5&2&9J:;N=&9=PA@;9@;&:&
<=9:?H&9=P@;h:?mF&:&K:A8:?5&555
%5L@=7C(&1A&8:&N:P:&F@&;@>:?:&F@;<A?M:&PJ9E:&R@?>~@;h:5
)@F:5E(&f;:&N:P:&KA@;&@;F@W:N:&;J;9:&?@9E:h:&:&^JA@;&8@&E:9@&@F<@&E=;=?&N@&88@R:?8:&:&
K:A8:?H&I&FA&8=&EA9A@?:H&F@?M:&RAF<:&9=P=&J;:&<=;<:H&Q=?^J@&FA&;=&^JA@?@&K:A8:?&E:&N@&A?&:8&=<?=&
8:N=5&555
****************************************************************************************************'<7=879*)@F:5E *
qG!+7"13#!%57*"&",&,!%*+,"&"(&;3!/"&)"&)*%$3#."O&5%!&$"0."$&,3.,"1&5"!13(("1&5".<"(,&
;%+*$"/"(,&%55!"()!"&t&5!%+,*0."!&$u73(("1,"&"="!+*+"&)"1&)%(+"1r5*
3?@>J;<:F(
'5 ):&@DQ?@FAG;&qN:P:&KA@;&@;F@W:N:r&:Q:?@9@&@;&R:?A:F&=9:FA=;@F&@;&@8&<@D<=5&u%&^Jb&
<AQ=&N@&@;F@W:;h:&F@&?@LA@?@v
!5 uwJb&@F&J;:&qN:;h:&K:S:rv&uwJb&=<?=F&<AQ=F&N@&N:;h:&@DAF<M:;&@;&@8&.@;:9APA@;<=v
V5 #8&<@D<=&@F<m&@D<?:MN=&N@8&Q?AP@?&P:;J:8&N@&N:;h:&@J?=Q@=&@;&@8&^J@&F@&FA@;<:;&8:F&
K:F@F&N@&8:&PAFP:&9=P=&:?<@&N@&@F9@;:?A=5&u3=N?M:F&9=P@;<:?&:8>J;:&PmF&N@&FJF&9:7
?:9<@?MF<A9:Fv

'']

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*+WT*-5*KQ>=A5*I:C*>=JC7*YY*<5>95*C5*Uz*0E:@@5*(E8I=5CT
q1A; &NJN:H&<=N=F&F:K@;&^J@&8:&Q?AP@?:&?@Q?@F@;<:9AG;&N@ &A%&+3(1%#!%+*I(&)"&$%&
5!*/%<"!%&Q?=R=9G&J;&@F9m;N:8=5&3@?=H&Q=?&@D<?:W=&^J@&Q:?@h9:H&I=&;=&@F<:K:&Q?@Q:?:N=&
Q:?:&8:&@DQ8=FAG;5&):F&?@:99A=;@F&N@&8=F&PUFA9=F&^J@&E:KM:;&:FAF<AN=&:&8=F&@;F:I=F&N@&8:&
=?^J@F<: & ;= & :;J;9A:K:; & @F=H & I & @8 & @FQ@9<m9J8= & Q?@F@;<:N= & @; & 8: & @F9@;: & ;= & Q:?@9M: & ^J@&
<JRA@?: & Q?=K:KA8AN:N@F & N@ & N@F@;9:N@;:? & J; & NAF<J?KA=5 & )=F & K:A8:?A;@F & E:KM:; & @F<:N=&
@;F:I:;N=&NJ?:;<@&P@F@FH &I&F:KM:;&8= &^J@&@F<:K:;&E:9A@;N=H &:J;^J@&@F= &^J@&E:9M:; & :&
P@;JN= & ;= & <@;M: & ;:N: & ^J@ & R@? & 9=; & 8: & PUFA9:555 & ,@FN@ & @8 & 9=PA@;h= & PAFP= & N@ & 8:&
?@Q?@F@;<:9AG; & 9=P@;h:?=; & : & =M?F@ & P=N@?:N:F & Q?=<@F<:F & 9=;<?: & 8: & PUFA9:5 & 2 & @;<=;9@FH&
9J:;N= & F@ & :8hG & @8 & <@8G; & F=K?@ & @8 & >?JQ= & N@ & )=8A<:F & Q:<Ah:PK:F & I & N@ & 8:?>:F & <?@;h:F & ^J@&
F:8<:K:;&I&K?A;9:K:;&c:%(1"&)"1&%)3$"1+"(,1BH&@F<:88G&8:&<=?P@;<:5&0?A<=F&N@&":>J@J8@&
88@>:?=; & N@FN@ & J; & 8J>:? & N@<?mF & N@ & PM5 & *M & : & 48=?@;< & 19EPA<< & ^J@ & >?A<:K:( & ":AF@h7R=JFH&
>:?9@F&NJ&F@AhAP@z&8:F&&>:?9@F&N@8&N@9AP=F@D<=&NAF<?A<=&@?:;H&Q=?&FJQJ@F<=H&8:F&N:P:F&
PmF&@8@>:;<@F&N@&3:?MF5&3@?=&@8&@F<?bQA<=&9=;<A;JGH&I&J;=F&9A;9=&PA;J<=F&N@FQJbF&:K:;N=;b&
@;LJ?@9AN=&8:&F:8:z&I=&@F<:K:&F@;<:N=&F=K?@&@8&9=F<:N=&N@?@9E=&N@&8:&=?^J@F<:H&I&?@9J@?N=&
^J@&:8&F:8A?&9@??b&9=;&LJ@?h:&8:&QJ@?<:5&+J;9:&R=8RM&:&F@;<A?&<:;<:&9G8@?:&9=P=&@;<=;9@F5&
#F<:K:&L:PA8A:?Ah:N=&9=;&8:&PUFA9:5&):&:P:K:H&I&;=&Q=NM:&@;<@;N@?&Q=?&^Jb&8:&>@;<@&^J@&
:U;&;=&8:&E:KM:&@F9J9E:N=&N@F@:K:&Q?=<@F<:?&N@&:;<@P:;=5&,=PA;:N=&Q=?&8:&LJ?A:&88@>Jb&:&
J;&8J>:?&N@<?mF&N@8&@F9@;:?A=H&I&@;<=;9@F&RA&:&,A:>EA8@R&^J@&@;9@;NM:&I&:Q:>:K:&8:F&8J9@F&N@&
8: & F:8: & @; & J; & U8<AP= & @FLJ@?h= & Q=? & 9:8P:? & 8=F & m;AP=F5 & ,J?:;<@ & @8 & ?@F<= & N@ & 8: & R@8:N:&
Q@?P:;@9M&@;<?@&K:PK:8A;:FH&N@<?mF&N@&+ASA;FI&^J@&F=F<@;M:&8:&9=8:&N@&FJ&L?:9H&PA@;<?:F&N@&
QA@&F=K?@&J;:&FA88:&>?A<:K:&;UP@?=F&:&8=F&K:A8:?A;@FH&9=P=&FA&EJKA@?:&FAN=&@8&Q:<?G;&N@&J;&
K:?9=r5
&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&)=F&>?:;N@F&9=PQ=FA<=?@F{"E@&)AR@F&=L&0?@:<&C=PQ=F@?F
&&&&&&&&&&&&&&&&&&&&&&&&&&&&T:?=8N&C5&19E=;K@?>H&%;MK:8&)@:85&#NA9A=;@F&.=KA;K==H&!OOa

3?@>J;<:F(*
:B&/>=?&1<?:RA;FI&;:9AG&@;&.JFA:&u3=?&^Jb&@F<m&9=;FAN@?:N=&@;<?@&q8=F&
A;N@Q@;NA@;<@Fr&N@;<?=&N@8&+@=98:FA9AFP=v&
KB&uwJAb;@F&LJ@?=;&,A:>EA8@R&I&+ASA;FIv
9B&u3=?&^Jb&+ASA;FI&>?A<:K:&;UP@?=F&:&8=F&K:A8:?A;@F&FJKAN=&@;&J;:&FA88:v

''_

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

':K5*+XT*-5*KQ>=A5*I:C*>=JC7*YY*I:>I:*C5*Uz*0E:@@5*(E8I=5CT
35&2&JF<@N&Q?=QJ>;:K:&8:&N@F<?J99AG;&N@&<=N=&8=&:;<@?A=?555&YA=8@;<:P@;<@5
.5&1MH&N@KM:&E:K@?&J;:&?JQ<J?:5&T:9@?8=&<=N=&PmF&Q@;NA@;<@&N@&8=&A;@FQ@?:N=H&J;:&AN@:&^J@&
=?>:;A9@&@8&PJ;N=&N@&J;:&=K?:H&J;&P=<AR=5&#8&FAF<@P:&N@&19E;K@?>&;=&Q@?PA<M:&@F:&
8AK@?<:NH&8=&@;98:JF<?:K:&<=N=5
35&2:H&Q@?=&N@&:EM&:&Q?=QJ>;:?&J;:&N@F<?J99AG;H&A;FAF<=H&RA=8@;<:5&u#?:&@F@&@8&8@;>J:S@&
Q?=QA9A=&Q:?:&@8&FA>8=&[[v
.5&):&RA=8@;9A:&@?:&PJI&Q?=NJ9<AR:5&2=&<@;M:&!O&:W=F&9J:;N=&:9:KG&8:&1@>J;N:&0J@??:&
$J;NA:85&T:KM:P=F&FAN=&<@F<A>=F&N@&N@P:FA:N:&N@F<?J99AG;5&+J@F<?:&=K8A>:9AG;&@?:&
N@F<?JA?&Q:?:&9=;F<?JA?&N@&;J@R=H&I&I=&@F<:K:&@PQ@W:N=&@;&9?@:?&PUFA9:&^J@&;=&
?@FQ=;NA@?:&:&;:N:&Q?@RAFAK8@H&;A&@FQ@?:N=5&C?@=&^J@&9=;F@>JM&J;&Pb<=N=&^J@&P@&88@RG&:&J;&
P=P@;<=&@;&@8&^J@&N@KM&A;R@;<:?&=<?=5
35&u$@?@9AG&8:&Q@;:&N@F<?JA?&<=N=&@F=v&fF<@N@F&QJFA@?=;&Q:<:F&:??AK:&8:&:?P=;M:&I&:E=?:&
PJ9E=F&<?:<:;&N@&?@9=;F<?JA?8:5
.5&1MH&P@?@9AG&8:&Q@;:5&):&:?P=;M:&F=;&A;<@?R:8=FH&N@K@F&=?>:;Ah:?&J;&FAF<@P:&@;&@8&^J@&
Q=8:?Ah:?&@F=F&A;<@?R:8=F&I&P@h98:?8=F5&#8&FAF<@P:&<=;:8&=?>:;Ah:K:&9:<@>=?M:F&^J@&<=N:RM:&
F=;&?@8@R:;<@FH&Q@?=&:E=?:H&9=;&8=F&;J@R=F&Pb<=N=F&9?@:N=F&N@FQJbF&N@8&FAF<@P:&<=;:8H&
QJ@N@F&:PQ8A:?&8:&Q@?9@Q9AG;&N@8&F=;AN=5
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!&&&k#1e1&.f/j&$%+"/))%
&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&#;<?@RAF<:&:&3A@??@&`=J8@h
&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&,A:?A=&q#8&3:MFr&!]{O]{!O'O
3?@>J;<:F(&
'5 3A@??@&`=J8@h&E:K8:&N@&?JQ<J?:&@;&8:&L=?P:&N@&E:9@?&PUFA9:&<?:F&8:&!t&0J@??:&
$J;NA:8&u%&^Jb&?JQ<J?:&F@&?@LA@?@v
!5 u%&^Jb&F@&?@LA@?@&`=J8@h&9J:;N=&E:K8:&N@&^J@&qI=&@F<:K:&@PQ@W:N=&@;&9?@:?&PUFA9:&
^J@&;=&?@FQ=;NA@?:&:&;:N:&Q?@RAFAK8@rv
V5 u#F<mF&N@&:9J@?N=&9=;&3A@??@&`=J8@h&F=K?@&8:&;@9@FAN:N&N@&N@F<?JA?&Q:?:&N:?&9:KAN:&:&
8:F&;J@R:F&<@;N@;9A:F&PJFA9:8@F&Q=F<@?A=?@F&:&8:&!t&0J@??:&$J;NA:8v&%?>JP@;<:&<J&
?@FQJ@F<:5

''a

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

%$+"@A%333(%%)EI=A=78:>*@:A7K:8I5I5>*L5@5*A5I5*E8=I5IT%
O8=I5I*e+T*-5*K787I=5*@:C=J=7>5*D*L@7G585*:8*C5*&I5I*(:I=5T**
:B %+\+/$*(&T."!&(%,.1&"1,&(3'*1&
C:;<=&0?@>=?A:;=(&/;<?=A<=&N@&8:&<@?9@?:&PAF:&@;&8:&LA@F<:&N@&+:RAN:N5
KB %+\+/$*(&2*+,*/%"&T%1+7%$*&A%.)"1
9B %,%$&,#&)%&T%))#(&X".&)"&W3'*(&",&D%!*3(&R&r4*&W3'*(&/u%*/"s
$UFA9:&N@&<?=R@?=F&cF5&[///B
NB %)4*+1*&[&#)&1%`/*&c:<?AKJ9AG;B(&8%(,*#%&(^kvO&rD*!%#!"1&]!"/3131s
C:;<A>:F&N@&1:;<:&$:?M:5&)M?A9:&P=;GNA9:&Q?=L:;:&@;&#FQ:W:5

O8=I5I*eUT*-5*L7C=G78H5*K:I=:M5CT**
:B %+\+/$*(&><"&2*!#3&2*!#*(./
C=;NJ9<JF&F5&[//5&#F9J@8:&N@&+=<?@&,:P@5
KB %+\+/$*(&>/3.!1&/*&;3(,&w&"(&/%*&w&;$31&;*$*.1&"*.15&
$=<@<@&Q=8A<@D<J:8&F5&[///5
9B %+\+/$*&U/5"!%E!*,P&)"&$%&+*.,%,&H3*31%
)8AK?@&Y@?P@885&15&[/Y5&%?F&+=R:5
NB 4.%+C#1C*&)%+,/+/(&6++3&$%&5!*/%<"!%&
`:88:<:&A<:8A:;:5&15&[/Y5

O8=I5I*eVT*-5*KQ>=A5*M7A5C*:8*:C*/:85A=K=:897T**
%B 0/*Y%++/&3/#.)f/0/&,%&3%)#1"./+%(&aE!*"
N@&8:&D*11%&T%5%"&D%!+"$$*
`B *.)%+,*&,/&)%11*(&G$%O&G&+7"&'3(&"++73&
CB "*$s1&)f/1&,#&Y/C"*./%(&><"&D%!J%
$=<@<@&:&a&&
NB kf%+&Ysjwf#j(&83(&0.C&$%&$%<%!C&

O8=I5I*eWT*-5*KQ>=A5*=8>9@EK:895C*:8*:C*/:85A=K=:897T**
:B )f21&,#&+%.Ys#j(&,AL@?@;9A:F&F=K?@&@8&<@P:&M.S!)%/"&$%1&<%+%1
Y:?A:9A=;@F&Q:?:&RAEJ@8:
KB %+\+/$*(&T!35*\%(&)"&D"$E3!
C:;9A=;@?=&N@&8:&C=8=PKA;:
9B %+\+/$*(&T%1%/"PP3
,:;h:&N@&FJA<@
NB ,/#0*&*."/j(&08=F:F&F=K?@&G&;"$*+*&3++7*&/*"*

O8=I5I*eXT*-5*KQ>=A5*=8>9@EK:895C*:8*:C*^5@@7A7T**
%B 0#*.0&4./#,./CT&T+,#)(&F3!(5*5"
N@&8:&DL1*+%&>+.S,*+%H&1JA<@&;x&V&@;&.@&$:I=?5&,:;h:&;x&!
`B k*T%++&1#`%1"/%+&`%CT(&Vx&$=RAPA@;<=&>$$"#!3&%11%*&
C=;9A@?<=&N@&`?:;N@KJ?>=&;x&!&@;&4:&$:I=?H&`gY&'OX_&
C=;9@?<=&>?=FF=&Q:?:&=?^J@F<:&K:??=9:5
CB k*T%++&1#`%1"/%+&`%CT(&].#%&(^m&"(&)3&/"(3!H&`gY&aX_
N@&q#8&98:R@&KA@;&<@PQ@?:N=r&)AK?=&'x
''6

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

,B %+"*+/*&Y/Y%),/(&!x&$=RAPA@;<=&N@&6$&*(<*"!(3
N@&rA%1&+.%,!3&"1,%+*3("1sZ&C=;9A@?<=&F=8AF<:&Q:?:&RA=8M;

O8=I5I*efT*-5*KQ>=A5*M7A5C*:8*:C*^5@@7A7T**
:B 0#*.0&4./#,./CT&T+,#)(&]3!&.(,3&.1&%&+7*$)&*1&'3!(
;x&''&N@8&=?:<=?A=&6$&D"1J%1
KB k*T%++&1#`%1"/%+&`%CT(&87!*1,"(&c,P",&)*"1"(&K%#
C=?=H&;x&'&N@&8:&C:;<:<:&`gY&]V
9B T#+.2&3f.C#))(&[7"(&U&%/&$%*)&*(&"%!,7
%?A:&N@&GQ@?:&Q:?:&F=Q?:;=&N@&:*)3&%()&>"("%15
NB C)%f,/*&$*+"#Y#.,/(&2*&!*+3!)%&'31+7*&3/'!31*
%?A:&Q:?:&<@;=?&N@8&:9<=&//&N@&qAu3!;"3r
#[".%(&k5&15&`%CT(&q#?@;;@&PA9ErH&q3@<?JF&:K@?&:;<l=?<@<@rH&q/9E&lA88&EA@?&K@A&NA?&
F<@E@;rH&c;x&'ZH&']&I&'_B&N@&8:&3:FAG;&F@>U;&1:;&$:<@=5&C=?:8H&?@9A<:<AR=&I&9=?:85&'_V]5

O8=I5I*egT*-5*KQ>=A5*=8>9@EK:895C*:8*:C*%C5>=A=>K7T**
:B 45&k5&T%2,+(&!x&P=R5(&D"(.",,3Z&>$$"#!",,3Z
N@8&9J:?<@<=&N@&9J@?N:&@;&PAK&P:I=?&*Q5&!O&;x&'
KB )5&Y5&`##"T*Y#+(&!x&P=R5(&>$$"#!",,3Z
N@&8:&F=;:<:&Q:?:&QA:;=&;5x&'X&@;&N=&F=F<@;AN=&P@;=?&wJ:FA&J;:&L:;<:FA:H&*Q5&!_H&
;5x&!
9B g5&%5&$*j%."(&'x&P=R5(&D3$,3&%$$"#!3
N@&8:&1A;L=;M:&;5x&XO&@;&F=8&P@;=?H&i5&ZZO5&4=?P:&F=;:<:5
NB g5&%5&$*j%."(&'x&P=R5(&>$$"#!3Z&
,@&8:&1=;:<:&Q:?:&QA:;=&;5x&']&c43(%,%&;%+*$"B&@;&N=&P:I=?H&i5&ZXZ5&4=?P:&F=;:<:5

O8=I5I*edT*-5*KQ>=A5*M7A5C*:8*:C*%C5>=A=>K7T**
:B g5&%5&$*j%."(&83(;.,%,*1
N@&8:&PAF:&W"0.*"/
KB g5&%5&$*j%."(&,U=&@;<?@&3:Q:>@;=&I&3:Q:>@;:&
4A;:8&N@&8:&@F9@;:&6&N@8&%9<=&//&N@8&1A;>FQA@8&:*"&x%.'"!;$y,"
9B CE5&g5&0)fCi(&G&/%$7".!".1"&U57*#V(*"
%?A:&Q:?:&F=Q?:;=&9=;&9=?=&N@&8:&GQ@?:&F@?A:&?@L=?P:N:&U57*#V(*"&"(&K%.!*)"
NB g5&%5&$*j%."(&>7z&T"!)3(%&%$&5!*/3&%;;",,3
;x&_&&N@8&%9<=&/H&7&,U=&N@&8:&GQ@?:&F@?A:&q:;<A>J:r&A%&8$"/"(P%&)*&K*,3

O8=I5I*eoT*-5*KQ>=A5*=8>9@EK:895C*:8*:C*/7K589=A=>K7T**
:B )5&Y5&`##"T*Y#+(&'x&P=R5(&>$$"#!3&+3(&'!J3
1A;L=;M:&+x&Z&@;&N=&P@;=?&*Q5&]_5&4=?P:&1=;:<:5
KB TpC"*.&`#.)/*j(&Xx&P=R5(&D%!+7"&%.&1.55$*+"&f>$$"#!",,3&(3(&,!3553Y
N@&{5*13)"&)"&$%&<*"&)B.(&%!,*1,"O&1E/573(*"&;%(,%1,*0."&"(&+*(0&5%!,*"1&*Q5&'X&=&
4*(;3(J%&]%(,S1,*+%5&1A;L=;M:&Q?=>?:Pm<A9:5
9B k*T%++#1&`.%T$1&Xx&P=R5(&W3()3&%$$%&P*(#%!"1"
N@8&9J:?<@<=&Q:?:&QA:;=&;x&'&@;&F=8&P@;=?H&*Q5&!Z
NB 4.#,#./C&CT*3/+(&?3+,.!(3&Q:?:&QA:;=&;x&!&*Q56
'!O

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

O8=I5I*+eT*-5*KQ>=A5*M7A5C*:8*:C*/7K589=A=>K7T**
:B 4.%+j&1CTf`#."(&:%1&d%()"!(
)A@N&N@8&9A98=&:*"&1+7y("&De$$"!*(&c):&K@88:&P=8A;@?:BH&,5&_6Z
KB 0/*%CCT/+*&.*11/+/(&A%!#3&%$&;%+,3,./
%?A:&Q:?:&<@;=?&N@&8:&GQ@?:&KJL:&U$&'%!'*"!"&)*&4*<*#$*%Z
9B 0/f1#33#&Y#.,/(&:*3O&+7"&("u$$&%$/%&*(;3()"!"
,U=&N@&8:&0?:;N&*Q?:&:3(&8%!$3&@;&R@?FAG;&A<:8A:;:&N@8&:J<=?5
NB 0/%C*$*&3fCC/+/(&-.%()3&/u"(&<3&d&cY:8F&N@&$JF@<<:B
#F9@;:&N@&8:&GQ@?:&R@?AF<:&A%&937V/"5
@B ./CT%.,&g%0+#.(&9"#$e+`,&)%!;&(.(&)*+7
C=?=&N@8&:9<=&Vx&N@8&N?:P:&PJFA9:8&K%((7c.1"!

O8=I5I*++T*-5*KQ>=A5*"5A=785C=>95T**
:B #,Y%.,&0./#0(&&8%(+*I(&)"&43$<"*#
N@&8:&PUFA9:&A;9AN@;<:8&Q:?:&T""!&ME(,H&=K?:&<@:<?:8&N@&T@;?A&/KF@;5&+:9A=;:8AFP=&
;=?J@>=&cLA;:8@F&N@8&FA>8=&[/[B5&$UFA9:&Q?=>?:Pm<A9:&Q:?:&=?^J@F<:5
KB `#,./CT&1$#"%+%(&2$,%<%&c6$&D3$)%<%B
+:9A=;:8AFP=&9E@9=H&FA>8=&[/[5&3=@P:&FA;LG;A9=5&
9B $%+f#)&,#&4%))%(&:%(P%&!*,.%$&)"$&;."#3
N@8&`:88@<&6$&%/3!&9!.H3
NB /1%%C&%)`p+/j(&":;>=
+x&!&N@&8:&FJA<@&615%\%@&1"*1&73H%1&)"&S$'./&Q:?:&QA:;=&*Q5&']Z5
#[".%(&k:;m@(&k@;L:&7&%9<&'(&,J:&$=S:H&"@R=H&1"@RJ=&c:&Q:?<A?&N@&'&ZOrB

O8=I5I*+UT*-5*`5@`E:C5
%B k*1p&,#&+#`.%(&D%1&;S+*$&1"!S&%$&<*"(,3
%?A:&N@&8:&h:?hJ@8:&K:??=9:&>/3!&%./"(,%&"$&<%$3!
`B 4.%+C/1C*&%1#+k*&`%.`/#./(&93$"!3
,U=&N@&F=Q?:;=F&N@&8:&h:?hJ@8:&>?:;N@&A31&)*%/%(,"1&)"&$%&+3!3(%5
CB .f3#."*&CT%3-(&X3,%&)"&$31&!%,%1
#F9@;:&N@&8:&?@RAF<:&A%&M!%(&2J%Z&0b;@?=&CEA9=5
,B 4#,#./C*&CTf#C%(&T!"$.)*3&
N@&#8&`:<@=5&0b;@?=&CEA9=5
#B 4#,#./C*&$*.#+*&"*..*`%(&6(&.(%&)"7"1%&)"&$%&6=,!"/%).!%&
#F9@;:&N@&YAN:8&I&9=?=&N@&R:?@:N=?@F&N@&A.*1%&]"!(%()%5&j:?hJ@8:&>?:;N@5

O8=I5I*+VT*-5*I58`5*D*:C*F5CC:9*
:B
KB
9B
NB

C5&0#.Y%/1#(&&9!%($"&)"&93.!#3#("
k5&`5&)f))2(&#8&`J?>JbF&0@;<A8E=PK?@&7&qD%!+7%&5%!%&$%&+"!"/3(*%&)"$&,.!+3r
k5&`5&`%CT(&1JA<@&Q:?:&8:UN&@;&$A&P@;=?&`gY&6]]&d&jZR&93.!!V"
35&/5&"CT%/i*Y1i2(&q:%(P%&)"$&7%)%&#3$31*(%r&N@&q#8&C:F9:;J@9@Fr

O8=I5I*+WT*-5*KQ>=A5*I:C*>=JC7*YY*<5>95*C5*Uz*0E:@@5*(E8I=5CT**
:B /0*.&1".%Y/+1i2(&q:%(P%&)"&$31&>)3$"1+"(,"1rH&N@8&K:88@<&q):&C=;F:>?:9AG;&N@&8:&
'!'

!"#"$"%&'()*+%,(%-+%$()(.+%/%01*2"%,(%34567+%/%888",('*()'5"729

KB
9B
NB
@B

3?AP:R@?:r5&'6'V5&
C)%f,#&,#`f112(&qA%&;*$$"&%.=&+7"<".=&)"&$*(rH&Q?@8JNA=&Q:?:&QA:;=5&'6'O
%.+*),&1CT+`#.0(&qD3()"1,!.(`"(rH&Q=@P:&'&N@&q3A@??=<&)J;:A?@r5&'6'!
k*%wf-+&"f./+%(&qG!#J%rH&"@?9@?:&N@&8:F&q"?@F&,:;h:F&4:;<mF<A9:Fr5&'6'65
3%`)*&1*.*js`%)(&):&":K@?;@?:&N@8&3J@?<=5&.=P:;h:&Q:?:&<@;=?(&q?3&5.")"&
1"!r5

O8=I5I*+XT*-5*KQ>=A5*I:C*>=JC7*YY*I:>I:*C5*Uz*0E:@@5*(E8I=5CT
:B i%.)T#/+j&1"*CiT%f1#+(&a3(,%`,"Z&$UFA9:&#8@9<?=:9UF<A9:5
KB *)/Y/#.&$#11/%#+(&61,.)*3&)"&!*,/3&(^&m&Q:?:&QA:;=&q$=N=&N@&R:8=?@F&@&
A;<@;FAN:N@Fr5&1@?A:8AFP=&A;<@>?:85
9B )fC/%+*&`#./*(&4"0."(P%&UUU&Q:?:&R=h5&$UFA9:&:8@:<=?A:5
,B i.j21j"*4&3#+,#.#Ci/(&G!%,3!*3&53!&$%1&<J+,*/%1&)"&>.1+7d*,PH&,A@F&/?:@5&
$UFA9:&0?JQ:85

'!!

!"#$%&'(
)"#'*($
#+"#,-'.$#/#01&23'
04$4#5042$
(06$.25206&'
*$(('.'
.3$12.215'
'&('9

('5$6&2.215'
6$.2'6$3215'
25-(012'6215'
7$68%$(42$

:"#8,60('
##(03282'1'

261&(%506&$3

##-(';$6'

7'.$3

$#.<=>??<
.@A#<B@C=<D<CE>AF@#EAGFHIC>AF<?

#J"#&0K&%($
5'6L42.$
.'6&($-%6&M1&2.$#
N'5';L62.$#
503'4M$#$.'5-$O$4$
'&($9

#P"#&25*(0
7'Q#'#7'.01#1'321&$1
.'('
-2$6'
72N%03$
'(R%01&$
'&('19

#S"#;'(5$
521$
72(03$2
5'&0&0
42;0(06.2$1
.'($3
(0.2&$&27'

#W"#&0K&'
242'5$
3<FXA
.<GF>??<A@
$?>CYA
2F<?E<A@
'FH@9
6'#&2060#&0K&'

.'6.0(&'#1'321&$
4T'
1'6$&$#U126;'6M$V
3204
01&%42'
'&($9

.'('
1%2&0
-(03%42'#'(R%01&$3
*$330&
'($&'(2'

@E
|| E
lI

Pruebade Accesoa la Universidadde Extremadura

EXE

Curso 2011-12

Asignatur:a:HISTORIA
DELA USrcnY OELA DANZA

Tiempomximode la prueba:th.30 min.

OPCINA
1. Tema a desarnllar.Ocuparcomo mximo una cara de folio. (2,5prnros)
Escuelade San MarcialdeLimogesy NotreDamede Pars.
2. Responde brcvemente (cadapregunta
se vabraconI punb,mxfrno
3 puntos)
y semejanzas
y troveros.
1. Diferencias
entretrovadores
y concierto.
2. Compara
sonata,
sinfona
3. Diferencias
entrela msicaconcretay la msicaelectronie.
3. Comentario de audicin segn el esquemadado, La audicin se escuchardos veces.

(0,5 cada respuesta corecta, miximo3 puntos)

F. MorenoTonoba: Luisafemandat."En una dehesade mi Extremadura"

4. Texto sobre historia de la msica con tres cuestiones. (cauacuestitnsevaloarcon0,5
puntos,mximo1,5puntos)
'Tormenta,rayos. Me desesperoporqueintento
dar una idea de esta prodigiosapieza. Hay que orla para
concebir el grado de verdady sublimirladque la descripcinen msica puede alcanzara manos de un
hombre como Beethoven.Escuchad,escuchadestos golpes de viento cargadosde lluvia, estos sordos
gruidosde los bajos,el agudo silbidode los flautinesque anuncianla tormentatenible que est a punto
de desatarse.Se acerca la tempestad,se extiende;un gigantescogolpe cromticoque se inicia en los
instrumentosagudosse resuelvey desciendehasta las ltimaspncfundidades
de la orquesta,sacudea los
bajos y los anastra consigomismo, y vuefve a trepar eslremecindose
como un torbellinode viento que
revuelcaa todo lo que encuentraa su paso. Luego estallanlos trombones,al mismo tiempoque el trueno
de los timbales redoblasu violencia.Ya no hay lluvia ni viento; es un sobrecogedorcataclismo,el gran
diluvio,el fin del mundo...
Velad vuestros roslros, pobres e lustres poetas antiguos, pobres inmortales. Vuesto lenguaje
convencional,
tan puro,tan armonioso,no puedecompetircon el arte de los sonidos.Sois gloriososen la
derrota,pero estisvencidos.No conocaislo que hoy en da llamamosmeloda,armona,la asociacinde
timbres diferentes,los colores instrumentales,las modulaciones,los aprendidosconflictosde sonidos
contrarios que primero combaten entre s y luego se abrazan, nuestras sorpresas del odo, nuestros
extraosacentosque hacenque reverberezcan
las profundidades
ms inexplonables
delalma."
HectorBerlioz:A traverschants(Pars,1898)
a) Comentala ftase 'intentodar una idea de esta prodigiosapieza. Hay que orla para concebirel gradode
verdad y sublimidad que la descripcin en msica puede alcanzar a manos de un hombre como
Beethoven".
b) A qu se refiere Berlioz cuando critica "no conocaislo que hoy llamamos meloda, armona,
timbres..."?
c) Comenta,como una de las caractersticas
delRomanticismo,
los contrastes"no excluyentes'deesta
a.

NB

1. Temaa desanolfar.ocuparcomo mximouna carade fofio.(2,spunros)

La peraromntica
alemana.
El dramamusicalalemn.
2' Responde brevemente lcaoa preguntase valora con I punto,
mximo3 rntos)
1. Define la forma madrigal.

2 Qudiferencias
hayentreetclavey el piano?
3. Enumeraalgunascanactersticas
dei Nacionalismo
musical.

3' comentariode audicinsegnel esquemadado.La audicinse eacuchar

dos veces.

(0,5 cada respuestaconcta, mximo 3 punbs)

W. A. Mozarl:Requiemen Re menor"Confutatis"

4' Texto sobre historia de la mrislca con tres cuestiones. (cadacuesgin

sevabrarcon0,S
puntos,mximo1,5puntos)

"Paraaprenderuna melodadesconocida
no debemosrecunirsiemprea la voz de un hombreo al sonido
de un instrumento,para volvemos incapacesde avanzar sin
una gua, como ciegos. por el contrario
tenemos que fijar en lo ms profundode la nremorialas diferencia
distintivasde cada
t br;.des
sonido y de cada descensoo elevacinde la voz... En efecto,cuandoLrp,j"
a
ensear
este mtodoa
los nios, algunosde ellos lograroncantar antes de tres das
melodii-sconocidas...La
siguiente
1e_lodaes de la que me sirvo paraenseara los muchachos:
CDFDEDDDCDEE
Ut que-antla-xisre-so-na-refi-bris
EFGEDECDFGaGFEDD
Mi- ra ges-to-rumfa-mu-litu-o-rum,
GaGFEFGDaGaFGaa
Sol- ve pol-lu-tila- bi-i re-a-tum,
GFEDCED
Sanc-te Jo-an-nes',
Guido d'Arezzo: Epstolade ignoto cantu (ca. 102S).
a) Qu ventajas tiene el mtodo de enseanza musicalque
describe Guido d'Arezzo?

b) Qutienede particular
el himnoUt queantlaxis?
c) QuotrosavancesaportGuidod'Arezzoa la notacinmusical?