Professional Documents
Culture Documents
Fitzpatrick-Dermatology 7th PDF
Fitzpatrick-Dermatology 7th PDF
"#$%&#'"()*+
!"#$%&'(')*+,-
."-"#%(+/"0,1,-"
2 3 43 5 6 7+ 3 ! 86 8 95
!"#$%&'("))*&+,*&)-./
!"#$%&&#"'#$'(%")*+#,#-.
/0*1")*2'3)%"1+4&
(%5*"+)%2+'#$'(%")*+#,#-.
6%718*,'921:%"&1+.'#$';1%22*
;1%22*<'=4&+"1*
"('0""&2(",%+345*&+,
!"#$%&&#"'#$'(%")*+#,#-.
921:%"&1+.'#$'>#"+0'/*"#,12*'?80##,'#$'6%71812%
/0*5%,'@1,,<'>#"+0'/*"#,12*
(%*2'3)%"1+4&
921:%"&1+.'#$'A#80%&+%"'?80##,'#$'6%71812%'*27'(%2+1&+".
A#80%&+%"<'>%B'C#"D
%40/506&31&!#47*&+,*&/5,
(1"%8+#"<'>*+1#2*,'E2&+1+4+%'#$'="+0"1+1&'*27'64&84,#&D%,%+*,'*27'?D12'(1&%*&%&
>*+1#2*,'E2&+1+4+%&'#$'@%*,+0
F%+0%&7*<'6*".,*27
8#-8#-#&23".5-0%4*&+,
!"#$%&&#"'*27'/0*1"'#$'(%")*+#,#-.
(%5*"+)%2+'#$'(%")*+#,#-.
F#&+#2'921:%"&1+.'?80##,'#$'6%71812%
F#&+#2<'6*&&*804&%++&
#+9&%1&/#""0-*&+,
G*,+%"'HI'@*),12'!"#$%&&#"'*27'/0*1"'#$'(%")*+#,#-.
!"#$%&&#"'#$'!%71*+"18&
J%12K%"-'?80##,'#$'6%71812%
>#"+0B%&+%"2'921:%"&1+.
/018*-#<'E,,12#1&
,#:3,&;1&"0))0""*&+,
!"#$%&&#"'#$'(%")*+#,#-.'*27'?4"-%".
/01%$<'?%8+1#2'#$'(%")*+#,#-18'?4"-%".'*27'/4+*2%#4&'L28#,#-.
(%5*"+)%2+'#$'(%")*+#,#-.
C*,%'921:%"&1+.'?80##,'#$'6%71812%
>%B'@*:%2<'/#22%8+184+
!"#$%&#'"()*+
!"#$%&'(')*+,-
."-"#%(+/"0,1,-"
2 3 43 5 6 7+ 3 ! 86 8 95
3 !869 : 2
!"#$%&'("))*&+,*&)-./
"('0""&2(",%+345*&+,
%40/506&31&!#47*&+,*&/5,
8#-8#-#&23".5-0%4*&+,
#+9&%1&/#""0-*&+,
,#:3,&;1&"0))0""*&+,
-7-K7IMNNN.7.
0(1*:5)1%&59*&;*)(&<*1O""P*59<"*5##15%<*&;*)(1*#%&;)*A1%<&";*"D*)(&<*)&)91Q*-7-K7INLLJ-7.?
@99* )%5B1:5%P<* 5%1* )%5B1:5%P<* "D* )(1&%* %1<#13)&A1* "6;1%<?* R5)(1%* )(5;* #C)* 5* )%5B1:5%P* <$:/"9* 5D)1%* 1A1%$* "33C%%1;31* "D* 5* )%5B1:5%P1B* ;5:1=* 61* C<1* ;5:1<* &;* 5;*
1B&)"%&59*D5<(&";*";9$=*5;B*)"*)(1*/1;1D&)*"D*)(1*)%5B1:5%P*"6;1%=*6&)(*;"*&;)1;)&";*"D*&;D%&;'1:1;)*"D*)(1*)%5B1:5%P?*S(1%1*<C3(*B1<&';5)&";<*5##15%*&;*)(&<*/""P=*)(1$
(5A1*/11;*#%&;)1B*6&)(*&;&)&59*35#<?*
234%5678&99*1O""P<*5%1*5A5&95/91*5)*<#13&59*TC5;)&)$*B&<3"C;)<*)"*C<1*5<*#%1:&C:<*5;B*<591<*#%":")&";<=*"%*D"%*C<1*&;*3"%#"%5)1*)%5&;&;'*#%"'%5:<?*U"%*:"%1*&;D"%:57
)&";=*#915<1*3";)53)*41"%'1*8"5%1=*F#13&59*F591<=*5)*'1"%'1V("5%1W:3'%567(&99?3":*"%*X,I,Y*J-N7N-LJ?*
0GR2F*ZU*EFG*
0(&<*&<*5*3"#$%&'()1B*6"%P*5;B*0(1*234%5678&99*!":#5;&1<=*>;3?*X[234%5678&99\Y*5;B*&)<*9&31;<"%<*%1<1%A1*599*%&'()<*&;*5;B*)"*)(1*6"%P?*E<1*"D*)(&<*6"%P*&<*<C/]13)*)"
)(1<1*)1%:<?*GH31#)*5<*#1%:&))1B*C;B1%*)(1*!"#$%&'()*@3)*"D*IJKL*5;B*)(1*%&'()*)"*<)"%1*5;B*%1)%&1A1*";1*3"#$*"D*)(1*6"%P=*$"C*:5$*;")*B13":#&91=*B&<5<<1:/91=*%1A1%<1
1;'&;11%=* %1#%"BC31=* :"B&D$=* 3%15)1* B1%&A5)&A1* 6"%P<* /5<1B* C#";=* )%5;<:&)=* B&<)%&/C)1=* B&<<1:&;5)1=* <199=* #C/9&<(* "%* <C/9&31;<1* )(1* 6"%P* "%* 5;$* #5%)* "D* &)* 6&)("C)*
234%5678&99^<*#%&"%*3";<1;)?*_"C*:5$*C<1*)(1*6"%P*D"%*$"C%*"6;*;";3"::1%3&59*5;B*#1%<";59*C<1`*5;$*")(1%*C<1*"D*)(1*6"%P*&<*<)%&3)9$*#%"(&/&)1B?*_"C%*%&'()*)"*C<1*)(1
6"%P*:5$*/1*)1%:&;5)1B*&D*$"C*D5&9*)"*3":#9$*6&)(*)(1<1*)1%:<?*
08G* SZRa* >F* bRZc>dGd* [@F* >F?\* 234R@S78>ee* @fd* >0F* e>!GfFZRF* 2@aG* fZ* 4E@R@f0GGF* ZR* S@RR@f0>GF* @F* 0Z* 08G* @!!ER@!_=*
@dGgE@!_* ZR* !Z2beG0GfGFF* ZU* ZR* RGFEe0F*0Z* OG* ZO0@>fGd* URZ2* EF>f4*08G*SZRa=* >f!eEd>f4*@f_* >fUZR2@0>Zf*08@0* !@f* OG
@!!GFFGd*08RZE48*08G*SZRa*c>@*8_bGRe>fa*ZR*Z08GRS>FG=*@fd*GhbRGFFe_*d>F!e@>2*@f_*S@RR@f0_=*GhbRGFF*ZR*>2be>Gd=*>f!eEd7
>f4*OE0*fZ0*e>2>0Gd*0Z*>2be>Gd*S@RR@f0>GF*ZU*2GR!8@f0@O>e>0_*ZR*U>0fGFF*UZR*@*b@R0>!Ee@R*bERbZFG?*234%5678&99*5;B*&)<*9&31;<"%<
B"*;")*65%%5;)*"%*'C5%5;)11*)(5)*)(1*DC;3)&";<*3";)5&;1B*&;*)(1*6"%P*6&99*:11)*$"C%*%1TC&%1:1;)<*"%*)(5)*&)<*"#1%5)&";*6&99*/1*C;&;)1%%C#)1B*"%*1%%"%*D%11?*f1&)(1%*234%567
8&99*;"%*&)<*9&31;<"%<*<(599*/1*9&5/91*)"*$"C*"%*5;$";1*19<1*D"%*5;$*&;533C%53$=*1%%"%*"%*":&<<&";=*%1'5%B91<<*"D*35C<1=*&;*)(1*6"%P*"%*D"%*5;$*B5:5'1<*%1<C9)&;'*)(1%1D%":?*
234%5678&99*(5<*;"*%1<#";<&/&9&)$*D"%*)(1*3";)1;)*"D*5;$*&;D"%:5)&";*5331<<1B*)(%"C'(*)(1*6"%P?*E;B1%*;"*3&%3C:<)5;31<*<(599*234%5678&99*5;Bi"%*&)<*9&31;<"%<*/1*9&5/91
D"%*5;$*&;B&%13)=*&;3&B1;)59=*<#13&59=*#C;&)&A1=*3";<1TC1;)&59*"%*<&:&95%*B5:5'1<*)(5)*%1<C9)*D%":*)(1*C<1*"D*"%*&;5/&9&)$*)"*C<1*)(1*6"%P=*1A1;*&D*5;$*"D*)(1:*(5<*/11;*5BA&<1B
"D* )(1* #"<<&/&9&)$* "D* <C3(* B5:5'1<?*0(&<* 9&:&)5)&";* "D* 9&5/&9&)$* <(599* 5##9$* )"* 5;$* 395&:* "%* 35C<1* 6(5)<"1A1%* 6(1)(1%* <C3(* 395&:* "%* 35C<1* 5%&<1<* &;* 3";)%53)=* )"%)* "%*
")(1%6&<1?
dZ>Q*I-?I-jLi--KINLLJ-.
!"#$%&&'#()*
!"#$%$&%'(")#%*&)(+
!"#$%&"#'%(#")*%'#+$,-
./012345,66#"7%%89#:;
'%(<=#6,8"#>%1"#,);%1>2+,%)#2?%(+#+$,-#?%%8@
,+-#2(+$%1@#%1#1"62+"=#?%%8-#2)=#3"?-,+"-@
&6"2-" /6,/8#$"1"A
! " ! #$ % & # '(
M01&'?%:%2+0'371+1#2'#$'!"#$%&#'"()*+,-.'/Ͽ,"4,5.4.'&1,6.7"("4.'
1&'7%718*+%7'+#'+0%')%)#".'#$'+B#'122#:*+#"&'12'+0%'N%,7<'B0#&%':1&1#2*".'
*55"#*80'+#'7%")*+#,#-.'1&'"%O%8+%7'+0"#4-0#4+P
M0#)*&'FI'J1+Q5*+"18D<'6(<'!0(
*27
E"B12'6I'J"%%7K%"-<'6(
("I'J1+Q5*+"18D'R7I'STTUV'B*&'G1--,%&B#"+0'!"#$%&&#"'#$'(%")*+#,#-.'3)%"1+4&'
*+'@*":*"7'6%718*,'?80##,<'*27'+0%'J#427%"'#$'(EW6'
*&'B%,,'*&'1+&'371+#"X12X/01%$'$#"'+0%'N"&+'$#4"'%71+1#2&I'
("I'J"%%7K%"-'R7I'STTYV'B*&'+0%'W%#"-%'61,,%"'6*8Z%%'!"#$%&&#"'#$'(%")*+#,#-.<'
>%B'C#"D'921:%"&1+.'6%718*,'/%2+%"<'*27'+0%'371+#"X12X/01%$'
$#"'+0%'N$+0'*27'&1[+0'%71+1#2&'*27',%7'+0%'K##D'+#'2%B'0%1-0+&I
<
!"#$%&'()* *+,,-*.$*/(0*123%4567&88*!"9#4:&0;<*=:2>*!8&2?*(0%0*@"%*)0%9;*"@*A;0>
!"#$%&'()%#*+)*+#,*'--.%-)/+%0-'*1%
!"#$%"#&$'()"#%*+'"($*,"-+$+.'/$+'+0&1$20'23$.&#&
!"#$%'% ()
:>?@AB&(CB &!)%$&*$)+,$*)*"#!"-+!"+
!"#$%& & ).!"+/"&+0'(%')+0*01$/"*)
!"#$%&'(#!%" !"#$%&'(H*(%-I/==/51.D(<321.4,.2(C/2,4(
1-($J#,00(K,/:53@35D(/-4(<D2.,>F0/531- 'I'I'I'I'I'I'I'I'b`
!"#$%&'()*(+,-,./0(#1-234,./531-2 I'I'I'I'I'I'I'I'I'I'I'I U
!*' E22*+%'*27'=7*5+1:%'E))421+.'
!' M0%'3517%)1#,#-.'*27'F4"7%2'
12'+0%'?D12I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'b`
#$'?D12'(1&%*&%'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I U
B0A.'#,G9,6071"4;,6-;,,J.443,M"/;,6-;,<=-;
6&'#"4,89,:."4+#0();,6-;,<=-;,&47,
-".#.',6&L'.';,,6-;,?='"+#"4.,@&42.'#;,6-;,
6&'3>6&'2&'.#,?='.4;,6-
&47,5.0'2,C#"421;,6-
"' 3:17%28%XF*&%7'(%")*+#,#-. 'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I \
!!' /.+#D12%& I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I']]`
6"(=&.1,@"2A3;,6-;,B0+&/&'"&,?0'04&;,-C(;,6-;,
NK0',B9,:"11"&/+;,6-;,<=-;,@.4O&/"4,P9,B"(=;,<=-;,
&47,603+.+,C$)10;,6-;,6<D;,-'<D
&47,Q=0/&+,C9,ML%%.';,6-
#' !4K,18'@%*,+0'12'(%")*+#,#-.'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I ]\
!"' /0%)#D12%& I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I']Sa
D3E.1,?9,:"11"&/+;,6C(;,<=-;,!B?<;,
C&/,Q9,DE&42;,6-;,<=-
C"4F&7!G&42&4;,6B?<;,&47,?&'+#.4,!10=';,6B?<?D
!#' =,,%"-18'/#2+*8+'(%")*+1+1& I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I']U`
!"#$%&'(67(899.1/:;(51( -&I"7,P9,?0=.4;,6-;,6<D;,&47,C=&'04,P9,J&(0A;,6-
<,.=/5101>3:(<3/>-1232 'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I SU
!$' =+#518'(%")*+1+1&'R=+#518'38Q%)*V 'I'I'I'I'I'I'I'I'I']_Y
$' ?+"48+4"%'#$'?D12'^%&1#2&'*27'
-04&17,R9,69,G.L42;,6-;,<=-;
J427*)%2+*,&'#$'/,1218*,'(1*-2#&1& 'I'I'I'I'I'I'I'I'I'I SU G&E'.4(.,!9,P"(=.4S.17;,6-;
8/"#,5&'2;,6-;,H"))",89,G.I"4;,6-;,<=-; &47,6&'),@02L4".E"($;,6-
,&47,J.KK'.3,-9,@.'4=&'7;,6-
!%' >4))4,*"'38Q%)*'*27'^180%2'
%' (1*-2#&+18'!"#8%74"%&'*27'(%:18%& I'I'I'I'I'I'I'I'I'I'I _T ?1)5,%['/0"#2184&c!"4"1-#'>#74,*"1& 'I'I'I'I'I'I'I']`\
8104,C(0%.;,6-;,&47,811&4,?9,D&1%.'4;,6- CL+&4,@L'2"4;,6-
&' F*&18'!*+0#,#-18'A%*8+1#2&'#$'+0%'?D12 'I'I'I'I'I'I'I'I _U !&' ;%&184,*"'!*,)#5,*2+*"'38Q%)*I'I'I'I'I'I'I'I'I'I'I'I'I']YS
6&'#"4,?9,6"=/;,J'9;,6-;, -&I.4,H9,-0+=";,6-;,&47,
8A7L1>5=&4",M"AA";,6-;,!8?<;, 81.T&,@9,M"/A&11;,6-;,6<D
&47,M1&L+,:01KK;,6-;,!B?<
!'' =4+#&%2&1+1Q*+1#2'(%")*+1+1& 'I'I'I'I'I'I'I'I'I'I'I'I'I'I']Ya
!"#$%&'(?7(&@,.@3,A(1B(C3101>DE( -04&17,U9,@.1+"#0;,6-
<,@,019=,-5E(/-4(!5.F:5F.,(1B(!G3- 'I'I'I'I'I'I'I'I'I'I'I `a
!(' !&#"1*&1& 'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I']Yb
'' (%:%,#5)%2+'*27'?+"48+4"%'#$'?D12 'I'I'I'I'I'I'I'I'I'I `a J0=&44,P9,5L7O04++04;,6-;,<=-;,
-&I"7,D9,?=L;,6-;,<=- &47,J&/.+,Q9,P17.';,6-
B0A.'#,C"7AL'3;,6-;,&47,J04,69,D&4"S4;,6-
!"#$%&'(?S*(Y;D23:/0($.,/5=,-52I'I'I'I'I'I'I'I'I'I'I SS_U
"""' L+0%"'M#518*,'6%718*+1#2& I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I S]UT
"#(' M0%"*5%4+18'!0#+#)%71812%P'
?'&"2,H9,@L')=&'#;,6-;, !0#+#+0%"*5. 'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I SS_U
&47,M.44.#=,89,M&#$;,6-
J.&4,M'L#/&44;,6-;,&47,
""#' !0#+#5"#+%8+1#2'*27'?42'!"#+%8+1:%'=-%2+& 'I'I'I'I S]Ua 8)"/"(=",60'"#&;,6-;,<=-
D.4'3,:9,G"/;,6- "#)' !0#+#80%)#+0%"*5.'*27'
""$' ?5%81*,'/#2&17%"*+1#2&'$#"' !0#+#7.2*)18'M0%"*5.'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I SS_b
M#518*,'M0%"*5.'#$'3+0218'?D12 'I'I'I'I'I'I'I'I'I'I'I'I S]_S D.'A.'#,DW4"2+/&44;,6-;,
B00%&1,U9,ML47L;,6- B01K>6&')L+,C$."/".+;,6-;
&47,B0A.'#,M40A1.';,6-
!"#$%&'(?P*(!D25,=3:($;,./9D'I'I'I'I'I'I'I'I'I'I'I'I'I S]_a "$*' ^*&%"&'*27'J,*&0,*)5&'
12'(%")*+#,#-.I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I SSYU
""%' ?.&+%)18'W,48#8#"+18#17& I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I S]_a
!.'4&47&,D9,C&)&/0#0;,6-;,Q0/",:&11;,6-;,
U"(#0'"&,<9,:.'#=;,6-
6&#=.E,69,8I'&/;,6-;,&47,B9,B0T,847.'+04;,6-
""&' (*5%I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I S]`_ "$!' A*71#+0%"*5. 'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I SSab
J04",59,C&20;,6-;,&47,BL++.11,<9,D&11,NNN;,6-
B.4�,<&4"$$04;,6-
""'' =)12#d412#,12%&I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I S]`a
J.KK'.3,B9,G&-L(&;,6-;,<=-;, !"#$%&'(?U*(#1=90,=,-5/.D(
&47,84#=043,89,5&+%&'";,6- /-4(805,.-/53@,(<,.=/5101>D 'I'I'I'I'I'I'I'I'I'I'I'I'I'I'I SS\`
D<=
$' (& * # + ,& '* )
"F@GBCQB&+1&8>>C*&+,*&/J, ,FC=B?F&8G@QJM2BGJFGU*&+,
/%2+%"'$#"';*&84,*"'=2#)*,1%&<'(1:1&1#2' !"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-.
#$'!,*&+18'?4"-%". @%12"180X@%12%'921:%"&1+.
/,121d4%&'921:%"&1+*"1%&'?+I'^48 921:%"&1+.'@#&51+*,'#$'(4%&&%,7#"$
D<=== F"4&&%,&<'F%,-14) (4%&&%,7#"$<'W%")*2.
"BBCF&8G@QOCBGM4@KBGAFC*&+, 0G=Q&.F@ABH*&+, +FGLM+FGSFGBN&.JGBC*&+,
!"#$%&&#"'*27'/0*1"<'(%5*"+)%2+'#$' !"#$%&&#"'#$'E2$%8+1#4&'*27'M"#518*,' !"#$%&&#"'12'A%&17%28%
(%")*+#,#-. (1&%*&%& (%5*"+)%2+'#$'(%")*+#,#-.
921:%"&1+.'#$'J"%1K4"- 921:%"&1+.'!1%""%'%+'6*"1%'/4"1% 921:%"&1+.'#$'/*,1$#"21*<'?*2'J"*281&8#
J"%1K4"-<'W%")*2. (%5*"+)%2+'#$'E2$%8+1#4&'*27'M"#518*,' ?+*$$'(%")*+#,#-1&+
(1&%*&%& ;%+%"*2&'=$$*1"&'6%718*,'/%2+%"
"@Q=CKF&%1&8@BHQJBG*&+, @l51+*,'!1+1mX?*,5n+"1o"% ?*2'J"*281&8#<'/*,1$#"21*
=&Q*+%'!"#$%&&#"<'(1:1&1#2'#$' !*"1&<'J"*28%
(%")*+#,#-. ,F<=K&51&.J@*&+,*&/J,
(%5*"+)%2+'#$'E2+%"2*,'6%71812% ">GBCU>&.BGG>C=*&+, E2&+"48+#"<'M0%'A#2*,7'LI'!%"%,)*2'
?#4+0%"2'E,,12#1&'921:%"&1+.'?80##,'#$' !"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-. (%5*"+)%2+'#$'(%")*+#,#-.
6%71812% 6%718*,'921:%"&1+.'#$'W"*Q >%B'C#"D'921:%"&1+.'?80##,'#$'
?5"12-N%,7<'E,,12#1& W"*Q<'=4&+"1* 6%71812%
>%B'C#"D<'>%B'C#"D
.JG=HN>PJBG&8FGGL&8@COBG*&+#*&+,*&)-./ %FGFJ&"1&.JFA?=C*&+,
!"#$%&&#"'#$'(%")*+#,#-.'*27' =&Q*+%'!"#$%&&#"<'(1:1&1#2'#$' +>CM"=&.J@*&/J,
/#2&4,+*2+'(%")*+#,#-1&+ (%")*+#,#-. !"#$%&&#"'*27';18%'/0*1"'#$'A%&%*"80
E)5%"1*,'/#,,%-%'?80##,'#$'6%71812% /01,7"%2p&'6%)#"1*,'@#&51+*, (%5*"+)%2+'#$'(%")*+#,#-.'*27'
/0%,&%*'k'G%&+)12&+%"'*27'A#.*,' >#"+0B%&+%"2'921:%"&1+. /4+*2%#4&'F1#,#-.
6*"&7%2'@#&51+*,& /018*-#<'E,,12#1& H%$$%"'6%718*,'/#,,%-%
^#27#2<'921+%7'Z12-7#) H%$$%"'E2&+1+4+%'#$'6#,%84,*"'
+FGL&'@&.JFCS*&+, 6%71812%
'F?NBG&51&.1&8@GSK>GR*&+, /01%$<'!%71*+"18'(%")*+#,#-. M0#)*&'H%$$%"'921:%"&1+.
/,1218*,'^%8+4"%" /#22%8+184+'/01,7"%2p&'6%718*,'/%2+%" !01,*7%,501*<'!%22&.,:*21*
(%5*"+)%2+'#$'(%")*+#,#-. =&Q*+%'!"#$%&&#"'#$'(%")*+#,#-.'k'
^47B1-'6*[1)1,1*2'921:%"&1+. !%71*+"18& ,F<=K&01&.>JBC*&+,*&+/5
642180<'W%")*2. 921:%"&1+.'#$'/#22%8+184+'?80##,'#$' =&Q*+%'!"#$%&&#"<'M0%'A#2*,7'LI'
6%71812% !%"%,)*2'(%5*"+)%2+'#$'(%")*+#,#-.
%@HFC&8@GS=C*&+, @*"+$#"7<'/#22%8+184+ M0%'>%B'C#"D'921:%"&1+.'?80##,'#$'
E2&+"48+#"<'(%5*"+)%2+'#$'(%")*+#,#-. 6%71812%
F%+0'E&"*%,'(%*8#2%&&'6%718*,'/%2+%" #CCB&+1&.JFPFH*&+, >%B'C#"D<'>%B'C#"D
@*":*"7'6%718*,'?80##, /,1218*,'=&&1&+*2+'!"#$%&&#"<'M0%'A#2*,7'
F#&+#2<'6*&&*804&%++& LI'!%"%,)*2'(%5*"+)%2+'#$' /J=?=P&-1&.>JBC*&+,
(%")*+#,#-. /,1218*,'=&Q*+%'!"#$%&&#"<'
.GF=S&61&8@GOJFGN*&+, ^*&%"'*27'?D12'?4"-%".'/%2+%"'#$'>%B' (%5*"+)%2+'#$'(%")*+#,#-.
(%5*"+)%2+'#$'(%")*+#,#-. C#"D 921:%"&1+.'#$'M%[*&X@#4&+#2'6%718*,'
921:%"&1+.'#$'>#"+0'/*"#,12* >%B'C#"D'921:%"&1+.'6%718*,'/%2+%" ?80##,
/0*5%,'@1,,<'>#"+0'/*"#,12* >%B'C#"D<'>%B'C#"D @#4&+#2<'M%[*&
DD==
+1&;>JC&5=QOH*&+,*&,,%*&/J, Z%FA&41&5EFCS*&+,*&/J, +B?=CKF&;BC*&+,
!"#$%&&#"<'(%5*"+)%2+'#$'!*+0#,#-. ?%21#"'E2:%&+1-*+#" A%&17%2+<'(%5*"+)%2+'#$'!%71*+"18&
(1"%8+#"'#$'=2*+#)18'!*+0#,#-. (%")*+#,#-.'F"*280 ?%8+1#2'#$'!%71*+"18'(%")*+#,#-.
M%[*&'/01,7"%2p&'@#&51+*, /%2+%"'$#"'/*28%"'A%&%*"80<'>*+1#2*,' /01,7"%2p&'@#&51+*,'#$'!01,*7%,501*
F*.,#"'/#,,%-%'#$'6%71812% /*28%"'E2&+1+4+% !01,*7%,501*<'!%22&.,:*21*
@#4&+#2<'M%[*& >*+1#2*,'E2&+1+4+%&'#$'@%*,+0
F%+0%&7*<'6*".,*27 ;BCHM+=QJFB?&;BCHBC*&+,
'J=NCBL&5=SJ*&+, !"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-.
=&&1&+*2+'!"#$%&&#"<'(%")*+#,#-.'k' 2FI>G&3??B=*&+, 921:%"&1+.'#$'Z1%,
(%")*+#5*+0#,#-. ?eh-"%2p&'?.27"#)%'/,1218 921:%"&1+.'@#&51+*,&'#$'Z1%,
921:%"&1+.'#$'/#,#"*7#'@%*,+0'?81%28%&' W%2%'M0%"*5.'*27'M0%"*5%4+18&'F"*280 Z1%,<'W%")*2.
/%2+%" >*+1#2*,'E2&+1+4+%'#$'(%2+*,'*27'
(%2:%"<'/#,#"*7# /"*21#$*81*,'A%&%*"80 -=QJFGK&#??BC&;>JCH>C*&+,
>*+1#2*,'E2&+1+4+%&'#$'@%*,+0 E2&+"48+#"'12'(%")*+#,#-.
%NB<BC&+1&5>??FCK*&+, F%+0%&7*<'6*".,*27 @*":*"7'6%718*,'?80##,
/01%$<'^*K#"*+#".'#$'/,1218*,'E2$%8+1#4&' /,1218*,'=&Q*+%'12'(%")*+#,#-.
(1&%*&%& #?FC&,1&3G<=CB*&+,*&)-./3*&+-./ 6*&&*804&%++&'W%2%"*,'@#&51+*,
>*+1#2*,'E2&+1+4+%&'#$'@%*,+0 /#2&4,+*2+'!*%71*+"18'(%")*+#,#-1&+ F#&+#2<'6*&&*804&%++&
F%+0%&7*<'6*".,*27 L4"'^*7.p&'@#&51+*,'$#"'?18D'/01,7"%2
(4K,12<'E"%,*27 4=A>NJL&+1&;>JCH>C*&+,
5BGIBGN&5YC=SHAFCC*&+, (%5*"+)%2+'#$'(%")*+#,#-.
!"#$%&&#"'*27'/0*1"<'(%5*"+)%2+'#$' /BNBG&51&3N=C*&+, 921:%"&1+.'#$'61801-*2
(%")*+#,#-. !"#$%&&#"'*27'@%*7<'(%5*"+)%2+'#$' =22'="K#"<'61801-*2
6%718*,'921:%"&1+.'#$';1%22* (%")*+#,#-.
;1%22*<'=4&+"1* 921:%"&1+.'@#&51+*,'F*&%, 2GFJFA&;>JCHN>C*&+8&.J8*&)-./
F*&%,<'?B1+Q%",*27 /#2&4,+*2+'(%")*+#,#-1&+<'(%5*"+)%2+'
4J>AFH&,1&5>GC*&+, #$'(%")*+#,#-.
!"#$%&&#"'*27'/0*1"<'(%5*"+)%2+'#$' %FN>G=&3EFA>N>*&+,*&/J, ^%18%&+%"'A#.*,'E2N")*".
(%")*+#,#-. (%5*"+)%2+'#$'(%")*+#,#-.'*27' ^%18%&+%"<'32-,*27
921:%"&1+.'#$'="D*2&*&'$#"'6%718*,' F1#80%)1&+".
?81%28%& F#&+#2'921:%"&1+. ;>HBPJ&"1&;>G=UU>*&+,
^1++,%'A#8D<'="D*2&*& F#&+#2<'6*&&*804&%++& J#")%"'RJ#42712-V'/0*1"<'(%5*"+)%2+'
#$'(%")*+#,#-.
Z4J>AFH&;1&5>GCLFO*&+,*&/J, %JFG>C&01&;FQ>I*&+, G*D%'J#"%&+'921:%"&1+.'6%718*,'/%2+%"
E2:%&+1-*+#"<'(%")*+#,#-.'F"*280 =&&1&+*2+'!"#$%&&#"<'(%5*"+)%2+'#$' G12&+#2X?*,%)<'>#"+0'/*"#,12*
/%2+%"'$#"'/*28%"'A%&%*"80 (%")*+#,#-.'*27'/4+*2%#4&'?4"-%".
>*+1#2*,'/*28%"'E2&+1+4+% 921:%"&1+.'#$'61*)1'61,,%"'6%718*,' +FGQ&;@KH>C*&+,
>*+1#2*,'E2&+1+4+%&'#$'@%*,+0 ?80##, !"#$%&&#"<'(1:1&1#2'#$'!4,)#2*".'*27'
F%+0%&7*<'6*".,*27 61*)1<'J,#"17* /"1+18*,'/*"%'6%71812%
6%718*,'921:%"&1+.'#$'?#4+0'/*"#,12*
0?=UFIBNJ&8FJFG&5>@HJAFCK*&+, 6FNF?=F&;F=ABH*&+, /0*",%&+#2<'?#4+0'/*"#,12*
=&Q*+%'!"#$%&&#"'*27'/01%$<'(1:1&1#2' A%&17%2+'12'(%")*+#,#-.
#$'(%")*+#,#-. 921:%"&17*7'!#2+1N81*'F#,1:*"1*2* %NB<BC&!FKK@*&+,
G"1-0+'?+*+%'921:%"&1+. 6%7%,,s2<'/#,#)K1* (%5*"+)%2+'#$'(%")*+#,#-.
F##2&0#$+'?80##,'#$'6%71812% 6%718*,'921:%"&1+.'#$'W"*Q
(*.+#2<'L01# '=??=FA&,1&;FABH*&+,*&/J, W"*Q<'=4&+"1*
(%5*"+)%2+'#$'(%")*+#,#-.
#?F=C&5><CFC=FC*&+,*&/J, 921:%"&1+.'#$'!%22&.,:*21* #CKGBF&!F?@H*&+,
!"#$%&&#"<'(%5*"+)%2+'#$'6%718*,' !01,*7%,501*<'!%22&.,:*21* =8+12-'=&&1&+*2+'!"#$%&&#"<'(1:1&1#2'#$'
W%2%+18& (%")*+#,#-.
921:%"&1+.'!*4,'?*K*+1%" +FNNJBE&/1&;FC=O*&+, 921:%"&1+.'#$'G*&012-+#2
!4"5*2'@#&51+*, (%5*"+)%2+'#$'(%")*+#,#-. ?%*++,%<'G*&012-+#2
M#4,#4&%<'J"*28% G"1-0+'?+*+%'921:%"&1+.'*27'F##2&0#$+'
?80##,'#$'6%71812% 3CH>>&!FCS*&+,
.J@CSM5>CS&5@*&+, (*.+#2<'L01# =&Q*+%'!"#$%&&#"<'?%8+1#2'#$'
(%5*"+)%2+'#$'(%")*+#,#-. A0%4)*+#,#-.
921:%"&1+.'#$'G1&8#2&12 4J>AFH&;FCHBC*&+, (%5*"+)%2+'#$'6%71812%
6*71<'G1&8#2&12 !"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-.<' C*,%'921:%"&1+.'?80##,'#$'6%71812%
;%2%"%#,#-.<'*27'=,,%"-#,#-. >%B'@*:%2<'/#22%8+184+
"=CKBC&5@*&+, 921:%"&1+.'#$'3&&%2
(1:1&1#2'#$'W%#-"*5018'6%71812%'*27' 3&&%2<'W%")*2. %BE>C&!FCS*&+,
E2$%8+1#4&'(1&%*&% !"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-.
M4$+&'>%B'32-,*27'6%718*,'/%2+%" 921:%"&1+.'#$'61801-*2
F#&+#2<'6*&&*804&%++& =22'="K#"<'61801-*2
DD===
#??BC&/1&!FP?FC*&+, #IK@?M2JFC=&!=II=*&+,*&)#./ !BCCBNJ&51&!GFBABG*&+,
>*+1#2*,'=,,%"-.'=&+0)*'*27'9"+18*"1*' !"#$%&&#"'*27'/0*1"<'(%5*"+)%2+'#$' A%&%*"80%"
/%2+%"&'#$'/0*",%&+#2 (%")*+#,#-. >*+1#2*,'E2&+1+4+%&'#$'@%*,+0
/0*",%&+#2<'?#4+0'/*"#,12* =)%"18*2'921:%"&1+.'#$'F%1"4+'6%718*,' /%2+%"'$#"'/*28%"'A%&%*"80
/%2+%" F%+0%&7*<'6*".,*27
;@?=B&!1&!FGBC*&+, F%1"4+<'^%K*2#2
A%&17%2+<'M0%'A#2*,7'LI'!%"%,)*2' ;BFC&!G@NAFCC*&+,
(%5*"+)%2+'#$'(%")*+#,#-. .JG=HN=CF&01&!=??>GFC*&+, !"#$%&&#"'#$'(%")*+#,#-.'*27'
>%B'C#"D'921:%"&1+.'?80##,'#$'6%71812% (%5*"+)%2+'#$'(%")*+#,#-.'*27'?D12' 32:1"#2)%2+*,'6%71812%
>%B'C#"D<'>%B'C#"D ?4"-%". (1"%8+#"<'E2&+1+4+'$t"'
A#-%"'G1,,1*)&'6%718*,'/%2+%" 9)B%,+)%71Q121&80%'J#"&8042-'RE9JV
,FC=B?&"1&!FHNCBG*&+, !"#:17%28%<'A0#7%'E&,*27 *+'+0%'@%12"180X@%12%X921:%"&1+.
/01%$<'W%2%+18&'*27'W%2#)18&'F"*280 (t&&%,7#"$<'W%")*2.
>*+1#2*,'E2&+1+4+%'#$'="+0"1+1&'*27' ;BCCL&!=A*&+,*&/J,
64&84,#&D%,%+*,'*27'?D12'(1&%*&% =&&1&+*2+'/,1218*,'!"#$%&&#"<'(1:1&1#2'#$' %NTPJFCB&!@BCU?=*&+,
>*+1#2*,'E2&+1+4+%&'#$'@%*,+0 (%")*+#,#-. 955&*,*<'?B%7%2
F%+0%&7*<'6*".,*27 (*:17'W%$$%2'?80##,'#$'6%71812%
921:%"&1+.'#$'/*,1$#"21*'*+'^#&'=2-%,%& ->>PF?&:1&!@CK@*&+,
!BCCBNJ&!FNU*&+, ^#&'=2-%,%&<'/*,1$#"21* =&&1&+*2+'!"#$%&&#"'#$'(%")*+#,#-.
(%5*"+)%2+'#$'(%")*+#,#-. >#"+0B%&+%"2'921:%"&1+.
921:%"&1+.'#$'!%22&.,:*21* #?BDF&81&!=AIF??*&+,*&+/5 (1"%8+#"<'>#"+0B%&+%"2'/%2+%"'$#"'
!01,*7%,501*<'!%22&.,:*21* (%5*"+)%2+'#$'(%")*+#,#-. 3+0218'?D12
@*":*"7'6%718*,'?80##, J%12K%"-'?80##,'#$'6%71812%
Z%NBPJBC&31&!FNU*&+,*&/J, F#&+#2<'6*&&*804&%++& >#"+0B%&+%"2'921:%"&1+.
(1"%8+#"<'>*+1#2*,'E2&+1+4+%'#$'="+0"1+1&' /018*-#<'E,,12#1&
*27'64&84,#&D%,%+*,'*27'?D12'(1&%*&%& ;>JC&51&!?=PPB?*&+,
>*+1#2*,'E2&+1+4+%&'#$'@%*,+0 ="+0"1+1&'J#427*+1#2 4J>AFH&%1&!@PPBG*&+,
F%+0%&7*<'6*".,*27 =+,*2+*<'W%#"-1* (1"%8+#"<'@*":*"7'?D12'(1&%*&%'
A%&%*"80'/%2+%"
"LCKF&!F@?H*&+, ->IBGN&!C>I?BG*&+, @*":*"7'E2&+1+4+%'#$'6%71812%
=&&1&+*2+'!"#$%&&#"<'(%5*"+)%2+'#$' =&Q*+%'!"#$%&&#"'#$'(%")*+#,#-. F"1-0*)'*27'G#)%2p&'@#&51+*,
(%")*+#,#-. (%5*"+)%2+'#$'(%")*+#,#-. F#&+#2<'6*&&*804&%++&
L"%-#2'@%*,+0'*27'?81%28%'921:%"&1+. (1:1&1#2'#$'?5%81*,'k'32:1"#2)%2+*,'
!#"+,*27<'L"%-#2 (%")*+#,#-. #AF?&!1&!@GIFC*&+,
6%718*,'921:%"&1+.'#$';1%22* (%5*"+)%2+'#$'(%")*+#,#-.
#CKGBE&!BFN*&+, ;1%22*<'=4&+"1* F#&+#2'921:%"&1+.'?80##,'#$'6%71812%
/#2&4,+*2+'!0.&181*2 F#&+#2<'6*&&*804&%++&
>#"+0B18D'!*"D'@#&51+*, %FCKGF&-1&!C>E?BH*&8%Q/JA
@*""#B<'6177,%&%[<'32-,*27 (1:1&1#2'#$'(%")*+#,#-. -FUB??B&!@GUG>QO*&+,*&)#./
?422.K"##D'@%*,+0'?81%28%&'/%2+%" (1"%8+#"<'!0*&%'L2%'!"#-"*)
,BFC&"1&!B??>SS*&;G1*&+,*&/J, 921:%"&1+.'#$'M#"#2+# (1:1&1#2'#$'/*28%"'6%71812%
=&Q*+%'!"#$%&&#"<'(1:1&1#2'#$' M#"#2+#<'L2+*"1#<'/*2*7* 921:%"&1+.'#$'M%[*&'
W%"1*+"18&'*27'W%"#2+#,#-. 6I(I'=27%"'/*28%"'/%2+%"
(%5*"+)%2+'#$'6%71812% 3GBCB&01&!>QJB<FG*&/J, @#4&+#2<'M%[*&
921:%"&1+.'#$'M%[*&'@%*,+0'?81%28%' !"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-.
/%2+%"'*+'?*2'=2+#21#<'M%[*& @*":*"7'921:%"&1+.'?80##,'#$'6%71812% ,FC=B?&!@HC=G*&+,
?*2'=2+#21#<'M%[*& G%,,)*2'/%2+%"'$#"'!0#+#)%71812% (1"%8+#"'#$'+0%'64,+184,+4"*,'
6*&&*804&%++&'W%2%"*,'@#&51+*, !&.80#+0%"*5.'M"*1212-'*27'A%&%*"80'
,F<=K&/1&!B?HB??*&+, F#&+#2<'6*&&*804&%++& E2&+1+4+%
M0%'A#.*,'^#27#2'@#&51+*, !"#-"*)'(1"%8+#"
^#27#2<'32-,*27 4J>AFH&!>BC=S*&+, ^*'J*)1,1*'/01,7"%2p&'(*.'M"%*+)%2+
=&Q*+%'(%*2'$#"'?+47%2+'=$$*1"& @*.B*"7<'/*,1$#"21*
)GFCQ=HQ>&!BGKB?*&+, =&&1&+*2+'!"#$%&&#"'#$'!&.801*+".'*27'
;#,42+*".'J*84,+. F%0*:1#"*,'?81%28%& 5B=CU&!@NUCBG*&+,
(%5*"+)%2+'#$'(%")*+#,#-.'*27' M0%'H#02&'@#5D12&'921:%"&1+.'?80##,'#$' (%")*+#5*+0#,#-1&80%
/4+*2%#4&'?4"-%". 6%71812% W%)%12&80*$+&5"*[1&
921:%"&1+.'#$'61*)1'61,,%"'?80##,'#$' F*,+1)#"%<'6*".,*27 J"1%7"180&0*$%2<'W%")*2.
6%71812%
61*)1<'J,#"17* 6B??=B&!>CC=O><*&+, 5B?BC&;1&"FQJAFCC*&+,
(%5*"+)%2+'#$'(%")*+#,#-. >*+1#2*,'=).,#17#&1&'/%2+"%
5B?A@N&!BG?*&+, F#&+#2';%+%"*2&'=$$*1"&'6%718*,'/%2+%" (%5*"+)%2+'#$'6%71812%
!"#$%&&#"'*27'/0*1")*2<'(%5*"+)%2+'#$' F#&+#2<'6*&&*804&%++& A#.*,'J"%%'*27'921:%"&1+.'/#,,%-%'
(%")*+#,#-. 6%718*,'?80##,
6%718*,'921:%"&1+.'#$'W"*Q ^#27#2<'32-,*27
DD=< W"*Q<'=4&+"1*
+FG=>&01&"FQ>@N@GB*&+, .B?BHNB&"BIIT*&+, #=ABB&"1&"B>CFGK*&+,
=&&1&+*2+'!"#$%&&#"<'(%5*"+)%2+'#$' ?%":18%'7%'(%")*+#,#-1% >%B'32-,*27'(%")*+#,#-.'*27'^*&%"'
(%")*+#,#-. @l51+*,'?*12+X^#41& /%2+%"
J%12K%"-'?80##,'#$'6%71812% !*"1&<'J"*28% ?5"12-N%,7<'6*&&*804&%++&
>#"+0B%&+%"2'921:%"&1+.
/018*-#<'E,,12#1& +FGO&"BIE>J?*&+, ,>CF?K&91&+1&"B@CS*&+,*&/J,
!"#$%&&#"'*27'/0*1")*2<'(%5*"+)%2+'#$' @%*7<'(1:1&1#2'#$'!%71*+"18'=,,%"-.'*27'
;[GSBC&"FKBAFCC*&+, (%")*+#,#-. E))42#,#-.
(%")*+#,#-.'(%5*"+)%2+ 6#42+'?12*1'?80##,'#$'6%71812% >*+1#2*,'H%B1&0'6%718*,'*27'A%&%*"80'
/0*"1+%'@#&51+*,c@4)K#,7+'921:%"&1+.' >%B'C#"D<'>%B'C#"D /%2+%"
F%",12 921:%"&1+.'#$'/#,#"*7#'6%718*,'?80##,
F%",12<'W%")*2. ;=C&"BB*&+,*&+8# (%2:%"<'/#,#"*7#
A%&17%2+<'(%5*"+)%2+'#$'(%")*+#,#-.
;BRRGBL&-1&"F,@QF*&+,*&/J, F#&+#2'921:%"&1+. 6=OO=&"B<=C*&+,*&/J,
J12-%"'^*D%&'(%")*+#,#-. F#&+#2<'6*&&*804&%++& =&&1&+*2+'!"#$%&&#"'#$'6%71812%
=4K4"2<'>%B'C#"D (1:1&1#2'#$'(%")*+#,#-.
!BC&!1&"BB*&+, 921:%"&1+.'#$'6*&&*804&%++&'6%718*,'
;>&"FAIBGN*&+,*&/J, =&Q*+%'!"#$%&&#"<'(%5*"+)%2+'#$' ?80##,
!"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-. (%")*+#,#-. 921:%"&1+.'#$'6*&&*804&%++&'6%)#"1*,'
921:%"&1+.'@#&51+*,'W0%2+ (1"%8+#"'#$'(%")*+#,#-18'?4"-%". @%*,+0'/*"%
W0%2+<'F%,-14) L"%-#2'@%*,+0'*27'?81%28%'921:%"&1+. G#"8%&+%"<'6*&&*804&%++&
!#"+,*27<'L"%-#2
%=CTFK&"FCSFC*&+-./ +>=HB&"1&"B<L*&+,
/%2+%"'#$'3:17%28%XF*&%7'(%")*+#,#-. "B?F&"BB*&+, !"#$%&&#"<'(%5*"+)%2+&'#$'!%71*+"18&'
>#++12-0*)'921:%"&1+.'@#&51+*,&'>@?' !"#$%&&#"'#$'(%")*+#,#-.'*27'6%71812% *27'(%")*+#,#-.
M"4&+ 921:%"&1+.'#$'/#,#"*7#'?80##,'#$' F*.,#"'/#,,%-%'#$'6%71812%
>#++12-0*)<'921+%7'Z12-7#) 6%71812% /01%$<'(%")*+#,#-.'?%":18%
/01%$'#$'(%")*+#,#-. M%[*&'/01,7"%2p&'@#&51+*,
5=?KB&"FPBBGB*&+, (%2:%"'@%*,+0'6%718*,'/%2+%" @#4&+#2<'M%[*&
(%5*"+)%2+'#$'(%")*+#,#-. (%2:%"<'/#,#"*7#
921:%"&1+.'@#&51+*,'W0%2+ ->HH&+1&"B<L*&+,
W0%2+<'F%,-14) /BNBG&!1&"BB*&+,*&/J, /01%$'A%&17%2+<'(%5*"+)%2+'#$'
=&&1&+*2+'!"#$%&&#"<'(%5*"+)%2+'#$' (%")*+#,#-.
+FGSFG=NF&+1&"FGGF?KB*&+, (%")*+#,#-. J%12K%"-'?80##,'#$'6%71812%
!%71*+"18'(%")*+#,#-.'(%5*"+)%2+ 921:%"&1+.'#$'6122%&#+* >#"+0B%&+%"2'921:%"&1+.
@#&51+*,'A*)#&'6%es* 6122%*5#,1&<'6122%&#+* /018*-#<'E,,12#1&
/01%$'#$'(%")*+#,#-.'(%5*"+)%2+
@#&51+*,'=,%)u2 +FGSFGBN&%1&"BBM8B??FCN>C=*&+,*&/J, 5BCGL&'1&"=A*&+,
F4%2#&'=1"%&<'="-%2+12* (%5*"+)%2+'#$'(%")*+#,#-. /0*1")*2<'(%5*"+)%2+'#$'(%")*+#,#-.
F#&+#2'921:%"&1+.'*27'M4$+&g>%B' @%2".'J#"7'@#&51+*,
#CCB&"F@AFCC*&+8&.J8*&+-./ 32-,*27'6%718*,'/%2+%" (%+"#1+<'61801-*2
=&Q*+%'!"#$%&&#"<'(%5*"+)%2+'#$' F#&+#2<'6*&&*804&%++&
(%")*+#,#-. %@HFC&"1&"=AI*&+,
J%12K%"-'?80##,'#$'6%71812% ,F<=K&;1&"BRRB??*&+, H#02&'@#5D12&'921:%"&1+.'?80##,'#$'
>#"+0B%&+%"2'921:%"&1+. !"#$%&&#"'#$'(%")*+#,#-.'*27'?4"-%". 6%71812%
/018*-#<'E,,12#1& /01%$<'?%8+1#2'#$'(%")*+#,#-18'?4"-%".' F*,+1)#"%<'6*".,*27
*27'/4+*2%#4&'L28#,#-.
%NBPJFC&"F@NBCHQJ?FSBG*&+, (%5*"+)%2+'#$'(%")*+#,#-. ,FC&"=PHOBG*&+,*&/J,
@%*7<'L4+5*+1%2+'/,1218'#$' C*,%'921:%"&1+.'?80##,'#$'6%71812% /,121d4%'(%")*+#,#-1d4%
(%")*+#,#-.'*27';%2%"%#,#-. >%B'@*:%2<'/#22%8+184+ @l51+*4['921:%"&1+*1"%&
M"1%),1'@#&51+*,'*27'921:%"&1+.'#$'j4"180 ?+"*&K#4"-'/%7%[<'J"*28%
j4"180<'?B1+Q%",*27 !G=HN=C&+1&"B=RBGAFC*&+,
!"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-. ->IBGN&"=HNBGC=QO*&+,
"BH?=B&/1&"FE?BL*&+, 921:%"&1+.'#$'9+*0'@%*,+0'?81%28%&' !"#$%&&#"<'(%5*"+)%2+'#$'!%71*+"18&
!%71*+"18'(%")*+#,#-.'J%,,#B /%2+%" J%12K%"-'?80##,'#$'6%71812%
(1:1&1#2'#$'(%")*+#,#-. ?*,+'^*D%'/1+.<'9+*0 >#"+0B%&+%"2'921:%"&1+.
/01,7"%2p&'6%)#"1*,'@#&51+*, (1:1&1#2&'#$'W%2%"*,'=8*7%)18'!%71*+"18&
>#"+0B%&+%"2'921:%"&1+. 3GBCB&+1&"B=SJ*&+, M0%'/01,7"%2p&'6%)#"1*,'@#&51+*,
/018*-#<'E,,12#1& /%2+"%'$#"'/4+*2%#4&'A%&%*"80 /018*-#<'E,,12#1&
?+I'F*"+0#,#)%Bp&'k'+0%'A#.*,'^#27#2'
4J>AFH&;1&"FE?BL*&+, ?80##,'#$'6%71812%
(%5*"+)%2+'#$'(%")*+#,#-. r4%%2'6*".'k'G%&+N%,7'/#,,%-%
3)#".'921:%"&1+.'?80##,'#$'6%71812% ^#27#2<'32-,*27
=+,*2+*<'W%#"-1*
DD<
+FLGF&01&">GBCU>*&+, )GBKBG=QO&,1&+F?O=CH>C*&+, ,FG=@H&-1&+BJGBSFC*&+,
A%&17%2+<'(%5*"+)%2+'#$'(%")*+#,#-. (%5*"+)%2+'#$'(%")*+#,#-. =&&1&+*2+'!"#$%&&#"'#$'(%")*+#,#-.
921:%"&1+.'#$'6*&&*804&%++&'6%718*,' 921:%"&1+.'@#&51+*, G*.2%'?+*+%'921:%"&1+.
?80##, /%2+"%'@#&51+*,1%"'921:%"&1+*1"%' (%+"#1+<'61801-*2
G#"8%&+%"<'6*&&*804&%++& ;*47#1& (1"%8+#"'#$'(%")*+#5*+0#,#-.
^*4&*22%<'?B1+Q%",*27 !12D4&'(%")*+#5*+0#,#-.'^*K#"*+#".<'!I/I
;FABH&"><B?BHH*&+, 6#2"#%<'61801-*2
(%")*+#,#-.'A%&17%2+ 8G=FC&)1&+FCKB??*&+,*&/J,*&)#.-
(%5*"+)%2+'#$'(%")*+#,#-. ;18%'/0*1")*2<'(1:1&1#2'#$'6%71812% ,F<=K&+BJGBSFC*&+,
H#02&'@#5D12&'6%718*,'E2&+1+4+1#2& ?+*$$<'(%5*"+)%2+'#$'A0%4)*+#,#-. =&&1&+*2+'!"#$%&&#"'#$'(%")*+#,#-.
F*,+1)#"%<'6*".,*27 /%2+%"'$#"';*&84,1+1&'/*"%'*27'A%&%*"80 G*.2%'?+*+%'921:%"&1+.
M0%'/,%:%,*27'/,1218'J#427*+1#2 (%+"#1+<'61801-*2
,>@S?FH&-1&">EL*&+, /,%:%,*27<'L01# (1"%8+#"'#$'(%")*+#5*+0#,#-.
@%*7<'?1-2*,12-'*27'L28#-%2%&1&'?%8+1#2 !12D4&'(%")*+#5*+0#,#-.'^*K#"*+#".<'!I/I
^*K#"*+#".'/01%$<'^*K#"*+#".'#$' -=QJFGK&+1&+FGQJB??*&+, 6#2"#%<'61801-*2
/%,,4,*"'L28#,#-. =&&1&+*2+'!"#$%&&#"<'(%5*"+)%2+'#$'
>*+1#2*,'/*28%"'E2&+1+4+% (%")*+#,#-. 51&.>KL&+B=HHCBG*&+,
>*+1#2*,'E2&+1+4+%&'#$'@%*,+0 6%718*,'921:%"&1+.'#$'?#4+0'/*"#,12* !"#$%&&#"<'(%5*"+)%2+'#$'!%71*+"18&
F%+0%&7*<'6*".,*27 /0*",%&+#2<'?#4+0'/*"#,12* M4$+&'>%B'32-,*27'6%718*,'/%2+%"
F#&+#2<'6*&&*804&%++&
#CCB&'1&"@QOL*&+, +1&/BNBG&+FG=CO><=QJ*&+,
(%")*+#,#-.'A%&%*"80'=&Q*+%&<'E28I =&Q*+%'!"#$%&&#"<'(%5*"+)%2+'#$' 6FNF?=B&+BCK>UF*&+,
/128122*+1<'L01# (%")*+#,#-. /%2+%"'$#"'/,1218*,'?+471%&
!"#-"*)'12'351+0%,1*,'F1#,#-. @#4&+#2<'M%[*&
4J>AFH&"@SBG*&+, ?+*2$#"7'921:%"&1+.'?80##,'#$'6%71812%
!"#$%&&#"'*27'/0*1")*2<'(%5*"+)%2+'#$' ?+*2$#"7<'/*,1$#"21* #CKGBE&21&+BHHBCSBG*&+,
(%")*+#,#-. @#2#"*".'?%21#"'/,1218*,'^%8+4"%"
921:%"&1+.'#$'6t2&+%" #KG=FCF&-1&+FGX@BH*&+, 921:%"&1+.'#$'?0%$N%,7
6t2&+%"<'W%")*2. ^*K#"*+#".'#$'/,1218*,'E2$%8+1#4&' ?0%$N%,7<'32-,*27<'9IZI
(1&%*&%&
/F@?F&.1&"@CF*&+, >*+1#2*,'E2&+1+4+%'#$'=,,%"-.'*27' ,BFC&,1&+BNQF?RB*&+,
(%")*+#,#-.'(%5*"+)%2+ E2$%8+1#4&'(1&%*&%& /01%$<'^*K#"*+#".'#$'=,,%"-18'(1&%*&%&
/04""48*X;1&8*'@#&51+*, >*+1#2*,'E2&+1+4+%&'#$'@%*,+0 >*+1#2*,'E2&+1+4+%'#$'=,,%"-.'*27'
F4%2#&'=1"%&<'="-%2+12* F%+0%&7*<'6*".,*27 E2$%8+1#4&'(1&%*&%&
>*+1#2*,'E2&+1+4+%&'#$'@%*,+0
.F?@A&.1&"L>C*&)-./*&+8&8.J=G ,=BNBG&+F@GBG*&+, F%+0%&7*<'6*".,*27
/#2&4,+*2+'(%")*+#,#-1&+'*27' !"#$%&&#"
@#2#"*".'/,1218*,'M4+#" (%5*"+)%2+'#$'(%")*+#,#-. +FGN=C&.1&+=JA*&;G1*&+,
@4,,'*27'C#"D'6%718*,'?80##, 6%718*,'921:%"&1+.'#$';1%22* /,1218*,'!"#$%&&#"'#$'!*+0#,#-.
C#"D'@#&51+*, ;1%22*<'=4&+"1* ?%21#"'(%")*+#5*+0#,#-1&+
C#"D<'921+%7'Z12-7#) @*":*"7'6%718*,'?80##,
4JB>K>GF&+1&+F@G>*&+, 6*&&*804&%++&'W%2%"*,'@#&51+*,
.FNJBG=CB&+FFG=*&+, =&Q*+%'!"#$%&&#"<'(%5*"+)%2+'#$' F#&+#2<'6*&&*804&%++&
(%5*"+)%2+'#$'(%")*+#,#-. (%")*+#,#-.
921:%"&1+.'#$'6#2+"%*, 921:%"&1+.'#$'/*,1$#"21*<'?*2'J"*281&8# %NFC?BL&;1&+=??BG*&+,
6#2+"%*,<'r4%K%8<'/*2*7* ?*2'J"*281&8#';%+%"*2&'@#&51+*, =&Q*+%'!"#$%&&#"<'(%")*+#,#-.'*27'
?*2'J"*281&8#<'/*,1$#"21* L+#,*".2-#,#-.g@%*7'*27'>%8D'?4"-%".
:FCKFCF&!1&+FKOFC*&+, H#02&'@#5D12&'@#&51+*,
/,1218*,'A%&%*"80'J%,,#B ;>JC&+Q2GFNJ*&+, F*,+1)#"%<'6*".,*27
/%2+%"'$#"'/,1218*,'?+471%& !"#$%&&#"<'(1:1&1#2'#$'?D12'?81%28%&
921:%"&1+.'#$'M%[*&'@%*,+0'?81%28%' Z12-&'/#,,%-%'^#27#2 4FGF&+=??BG*&+,
/%2+%" ?+I'H#02p&'E2&+1+4+%'#$'(%")*+#,#-. (%")*+#,#-.'A%&17%2+
@#4&+#2<'M%[*& ?+I'M0#)*&p'@#&51+*, 921:%"&1+.'#$'/*,1$#"21*<'?*2'J"*281&8#
^#27#2<'32-,*27 ?*2'J"*281&8#<'/*,1$#"21*
+BBGF&+FJF?=CSFA*&+,*&/J,*&)-./FNJ
=&Q*+%'!"#$%&&#"'*27'(1"%8+#"<' '1&51&3GE=C&+Q"BFC*&+,
(%")*+#5*+0#,#-. G%,,8#)%'M"4&+'?%21#"'A%&%*"80'J%,,#B
(1:1&1#2'#$'(%")*+#,#-. !"#$%&&#"'*27'@%*7<'@4)*2'W%2%+18&'
921:%"&1+.'#$'6*&&*804&%++&'6%718*,' A%&%*"80
?80##, (1"%8+#"<'351+0%,1*,'W%2%+18&'W"#45
921:%"&1+.'#$'6*&&*804&%++&'6%)#"1*,' @4)*2'W%2%+18&'921+
@%*,+0'/*"% (1:1&1#2'#$'!*+0#,#-.'*27'>%4"#&81%28%
G#"8%&+%"<'6*&&*804&%++& >12%B%,,&'@#&51+*,<'921:%"&1+.'#$'(427%%
(427%%<'?8#+,*27
DD<=
2=CFN&'=CNBGABLBG&+=G>EHO=*&,+,*&+, 3HFFQ&+1&6B@JF@H*&+, #CNJ>CL&01&(G>*&+,*&/J,
=&Q*+%'!"#$%&&#"<'(%5*"+)%2+'#$' =&&1&+*2+'!"#$%&&#"'#$'/,1218*,' =&Q*+%'!"#$%&&#"<'(%5*"+)%2+'#$'
(%")*+#,#-. (%")*+#,#-. (%")*+#,#-.
J%12K%"-'?80##,'#$'6%71812% (%5*"+)%2+'#$'(%")*+#,#-. !"#-"*)'12'351+0%,1*,'F1#,#-.
>#"+0B%&+%"2'921:%"&1+. 921:%"&1+.'#$'/*,1$#"21*<'?*2'J"*281&8# ?+*2$#"7'921:%"&1+.<'?80##,'#$'6%71812%
/018*-#<'E,,12#1& ?*2'J"*281&8#<'/*,1$#"21* ?+*2$#"7<'/*,1$#"21*
=7e428+'=&Q*+%'!"#$%&&#"
(%5*"+)%2+'#$'L"*,'!*+0#,#-.<' /F@?&6SJ=BA*&+,*&/J, +=QJFB?&61&(DAFC*&+,
6%71812%<'A*71#,#-. =&&1&+*2+'!"#$%&&#"<'(1:1&1#2'#$' !"#$%&&#"'#$'6%71812%'*27'!*+0#,#-.
E271*2*'921:%"&1+.'?80##,'#$'(%2+1&+". (%")*+#,#-. 921:%"&1+.'#$'/*,1$#"21*'*+'?*2'(1%-#
E271*2*5#,1&<'E271*2* =$N,1*+%'E2:%&+1-*+#"<'J"%7'@4+8012' ?+*$$'!0.&181*2'RE2$%8+1#4&'(1&%*&%&V
/*28%"'A%&%*"80'/%2+%" ?*2'(1%-#';%+%"*2&'=$$*1"&'@%*,+08*"%'
->IBGN&"1&+>K?=C*&+, ?%*++,%<'G*&012-+#2 ?.&+%)
Z,%12'!"#$%&&#"'*27'/01%$<'(%5*"+)%2+' ?*2'(1%-#<'/*,1$#"21*
#$'(%")*+#,#-. 2BGJFGK&;1&6>JLCBO*&+,
!"#$%&&#"'#$'618"#K1#,#-.<' (%5*"+)%2+'#$'(%")*+#,#-. 6=Q>?B&.1&/FQB*&+,
E))42#,#-.<'*27'6#,%84,*"'W%2%+18& /0*"1+%'@#&51+*,c@4)K#,7+'921:%"&1+.' !%71*+"18'(%")*+#,#-.'J%,,#B
(*:17'W%$$%2'?80##,'#$'6%71812% F%",12 (*"+)#4+0X@1+808#8D'6%718*,'/%2+%"
921:%"&1+.'#$'/*,1$#"21*<'^#&'=2-%,%& F%",12<'W%")*2. ^%K*2#2<'>%B'@*)5&01"%
^#&'=2-%,%&<'/*,1$#"21*
%Q>NN&6>GN>C*&+,*&+/5 %FCKGF&.1&/FBO*&+,
+BSFC&+1&+>>GB*&+, !"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-. /01%$'A%&17%2+<'(%5*"+)%2+'#$'
M0%'A#2*,7'LI'!%"%,)*2'(%5*"+)%2+'#$' 921$#")%7'?%":18%&'921:%"&1+.'#$'+0%' (%")*+#,#-.
(%")*+#,#-. @%*,+0'?81%28%& 921:%"&1+.'#$'61801-*2
>%B'C#"D'921:%"&1+.'?80##,'#$'6%71812% F%+0%&7*<'6*".,*27 =22'="K#"<'61801-*2
>%B'C#"D<'>%B'C#"D
.FG?>H&51&6>@HFG=*&+, #AL&%1&/F??BG*&+,
#O=A=QJ=&+>G=NF*&+,*&/J, (%")5*+0'(1*-2#&+18&'?#4+0'J,#"17* G*,+%"'HI'@*),12'!"#$%&&#"'*27'/0*1"'#$'
!"#$%&&#"'*27'/0*1")*2<'(%5*"+)%2+'#$' !#)5*2#'F%*80<'J,#"17* (%")*+#,#-.
W%"1*+"18'*27'32:1"#2)%2+*,' !"#$%&&#"'#$'!%71*+"18&
(%")*+#,#-. "=?=FC&+1&(K>*&+, J%12K%"-'?80##,'#$'6%71812%
>*-#.*'/1+.'921:%"&1+.'W"*74*+%' (%5*"+)%2+'#$'(%")*+#,#-.'#$'?*2+#' >#"+0B%&+%"2'921:%"&1+.
?80##,'#$'6%718*,'?81%28%& =)*"#'921:%"&1+. /018*-#<'E,,12#1&
>*-#.*<'H*5*2 L7#'/,1218&'#$'(%")*+#,#-.
?v#'!*4,#<'F"*Q1, -BCFN>&21&/FC=UU>C*&+,
6=Q>&+>@HK=QFH*&+, !"#$%&&#"'*27'/0*1")*2<'(%5*"+)%2+'
(%5*"+)%2+&'#$'(%")*+#,#-.<'!%71*+"18&<' ;>JC&01&(?BG@K*&+, #$'(%")*+#,#-.
!0*")*8#,#-.'*27'M#[18#,#-. W%#"-%'JI'L7,*27'!"#$%&&#" 921:%"&1+.'@#&51+*,
E271*2*'921:%"&1+.'?80##,'#$'6%71812% '(%5*"+)%2+'#$'6%71812% /%2+"%'@#&51+*,1%"'921:%"&1+*1"%'
E271*2*5#,1&<'E271*2* @%*7<'(1:1&1#2'#$'(%")*+#,#-. ;*47#1&
921:%"&1+.'#$'G*&012-+#2 921:%"&1+.'#$'^*4&*22%
$?G=QJ&+G>E=BNU*&+, ?%*++,%<'G*&012-+#2 ^*4&*22%<'?B1+Q%",*27
!"#$%&&#"
(%5*"+)%2+'#$'(%")*+#,#-. 0?=HB&(?HBC*&+, 5BBM9>@CS&/FGO*&/J,
921:%"&1+.'#$'Z1%, !"#$%&&#"'#$'6%71812% =&Q*+%'A%&%*"80'!"#$%&&#"<'
Z1%,<'W%")*2. (1:1&1#2&'#$'(%")*+#,#-.'*27'L28#,#-. (%5*"+)%2+'#$'(%")*+#,#-.
(4D%'921:%"&1+.'6%718*,'/%2+%" F#&+#2'921:%"&1+.'?80##,'#$'6%71812%
%FGFJ&+LBGH*&+, (4"0*)<'>#"+0'/*"#,12* F#&+#2<'6*&&*804&%++&
(1:1&1#2'#$'(%")*+#,#-.
(4D%'921:%"&1+.'6%718*,'/%2+%" !FN=F&(CSBCFB*&+,*&/J, 0<F&-FE?=CSH&/FGOBG*&+,
(4"0*)<'>#"+0'/*"#,12* !"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-. =&&1&+*2+'!"#$%&&#"<'(1:1&1#2'#$'
921:%"&1+.'@#&51+*,'W0%2+ (%")*+#,#-.
;BFCM+FG=B&6FBLFBGN*&+,*&/J, W0%2+<'F%,-14) ^#.#,*'921:%"&1+.'6%718*,'/%2+%"
!"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-. 6*.B##7<'E,,12#1&
921:%"&1+.'@#&51+*,'W0%2+ 2GF=CCB&+1&(\-BSFC*&+-./3
W0%2+<'F%,-14) L4"'^*7.p&'/01,7"%2p&'@#&51+*, -F?R&/F@H*&+,
(4K,12<'E"%,*27 !"#$%&&#"'*27'@%*7<'3[5%"1)%2+*,'
#AFCKF&+1&6B?H>C*&/J, (%")*+#,#-.
!#&+7#8+#"*,'?80#,*"<'(%5*"+)%2+'#$' %BNJ&;1&(G?>E*&+,*&/J, 921:%"&1+.'@#&51+*,'?80,%&B1-X@#,&+%12
(%")*+#,#-. /0*1")*2<'M0%'A#2*,7'LI'!%"%,)*2' /*)54&'^4%K%8D
M0%'H*D%'W1++,%2'/*28%"'A%&%*"80' (%5*"+)%2+'#$'(%")*+#,#-. 921:%"&1+.'#$'^4%K%8D
J#427*+1#2 ?*)4%,'G%12K%"-'!"#$%&&#"'#$' ^4%K%8D<'W%")*2.
M0%'!%22&.,:*21*'?+*+%'921:%"&1+.' (%")*+#,#-.<'!%71*+"18&<'*27'/%,,'F1#,#-.
/#,,%-%'#$'6%71812% >%B'C#"D'921:%"&1+.'?80##,'#$'6%71812%
@%"&0%.<'!%22&.,:*21* >%B'C#"D<'>%B'C#"D DD<==
+=QJB??B&41&/B??B*&+, 2BGK&/?BE=S*&+, 8=CF&-FHJ=K*&+,
=&&1&+*2+'/,1218*,'!"#$%&&#"<'(1:1&1#2'#$' !"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-. (1:1&1#2'#$'(%")*+#,#-.
(%")*+#,#-. ^47B1-X6*[1)1,1*2X921:%"&1+.'#$'642180 G"1-0+'?+*+%'921:%"&1+.
921:%"&1+.'#$'/*,1$#"21*<'?*2'(1%-# 642180<'W%")*2. F##2&0#$+'?80##,'#$'6%71812%
?*2'(1%-#<'/*,1$#"21* (*.+#2<'L01#
;>GKFC&%1&/>IBG*&+,
"=HFC&%1&/BCS*&+, E2+%"7%5*"+)%2+*,'!"#-"*)'12';*&84,*"' 4J>AFH&51&-BF*&+,
E2+%"7%5*"+)%2+*,'!"#-"*)'12';*&84,*"' F1#,#-.'*27'M"*2&5,*2+*+1#2 3)%"1+4&'!"#$%&&#"'#$'(%")*+#,#-.
F1#,#-.'*27'M"*2&5,*2+*+1#2 C*,%'921:%"&1+.'?80##,'#$'6%71812% Z%8D'?80##,'#$'6%71812%
C*,%'921:%"&1+.'?80##,'#$'6%71812% >%B'@*:%2<'/#22%8+184+ 921:%"&1+.'#$'?#4+0%"2'/*,1$#"21*
>%B'@*:%2<'/#22%8+184+ /01%$<'@*2&%2p&'(1&%*&%'/,1218
+=G=FA&!B?NU&/>ABGFCU*&+, ^#&'=2-%,%&<'/*,1$#"21*
8GBCN&/BCC=CSN>C*&+, =&&1&+*2+'!"#$%&&#"<'M0%'A#2*,7'LI'
(%5*"+)%2+'#$'(%")*+#,#-. !%"%,)*2'(%5*"+)%2+'#$'(%")*+#,#-. !F?PFCF&-BKKL*&8%
C*,%'921:%"&1+.'?80##,'#$'6%71812% >%B'C#"D'921:%"&1+.'?80##,'#$' J%,,#B<'(%5*"+)%2+'#$'(%")*+#,#-.
>%B'@*:%2<'/#22%8+184+ 6%71812% M0%'L01#'?+*+%'921:%"&1+.'/#,,%-%'#$'
>%B'C#"D<'>%B'C#"D 6%71812%
;BCC=RBG&81&/BG>CB*&+, =+,*2+*<'W%#"-1*
=&&1&+*2+'!"#$%&&#"<'(%5*"+)%2+'#$' +FG=CLF&/>CSP@KP@CNJ*&+,
(%")*+#,#-. (%5*"+)%2+'#$'(%")*+#,#-. 4J>AFH&01&-BKB?AB=BG*&+,
921:%"&1+.'#$'M%[*&'?#4+0B%&+%"2' F#&+#2'921:%"&1+.'?80##,'#$'6%71812% (%")*+#,#-.'(%5*"+)%2+
6%718*,'?80##, F#&+#2<'6*&&*804&%++& /0*"1+%'@#&51+*,c@4)K#,7+'921:%"&1+.'
(*,,*&<'M%[*& F%",12
)GFCO&.1&/>EB??*&+, F%",12<'W%")*2.
+FGS>N&%1&/BNBGH*&+, 921:%"&1+.'/#,,%-%'(4K,12
A#80%&+%"<'6122%&#+* /#2&4,+*2+'(%")*+#,#-1&+ -=QJFGK&.1&-B=QJAFC*&+,
6*+%"'!"1:*+%'@#&51+*, E2$%8+1#4&'(1&%*&%&'(1:1&1#2
/BNBG&/BNUB?IF@BG*&+, (4K,12<'E"%,*27 ?80##,'#$'6%71812%'*27'(%2+1&+".
!"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-. 921:%"&1+.'#$'A#80%&+%"
6%718*,'921:%"&1+.'#$';1%22* ;@?=B&/>EB??*&+, A#80%&+%"<'>%B'C#"D
;1%22*<'=4&+"1* !"#$%&&#"<'(%5*"+)%2+'#$'!%71*+"18&
921:%"&1+.'#$'6#2+"%*, "@=H&-BX@BCF*&+,
4FC=F&;1&/J=??=PH*&+, 6#2+"%*,<'r4%K%8<'/*2*7* (%5*"+)%2+'#$'(%")*+#,#-.
!"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-. J427*81w2'H1)m2%Q'(s*Q
F#&+#2'921:%"&1+.'?80##,'#$'6%71812% ;@?=B&%1&/GBCK=<=??B*&+,*&+-./3*&)-./. 921:%"&17*7'=4+w2#)*
F#&+#2<'6*&&*804&%++& /,1218*,'!"#$%&&#"'12'!%71*+"18& 6*7"17<'?5*12
921:%"&1+.'#$'F"1+1&0'/#,4)K1*
2TGF?K&01&/=TGFGK*&+,*&/J, @%*7<'(1:1&1#2'#$'!%71*+"18' #GNJ@G&-1&-J>KBH*&+,*&+/5
/01%$<'(%")*+#5*+0#,#-.'?%":18% (%")*+#,#-. !"#$%&&#"'#$'(%")*+#,#-.
(%5*"+)%2+'#$'(%")*+#,#-. F"1+1&0'/#,4)K1*'/01,7"%2p&'@#&51+*, A4&0'6%718*,'/#,,%-%
921:%"&1+.'@#&51+*,'#$'^1o-% ;*28#4:%"<'F"1+1&0'/#,4)K1*<'/*2*7* ?%21#"'=++%2712-'!0.&181*2
^1o-%<'F%,-14) A4&0'921:%"&1+.'6%718*,'/%2+%"
5>EFGK&/G=KB*&+, /018*-#<'E,,12#1&
.?F@K=CB&/=TGFGKM)GFCQJ=A>CN*&+,*&/J, (%5*"+)%2+'#$'(%")*+#,#-.
^*K#"*+#".'/01%$<'(%")*+#5*+0#,#-.' W%1&12-%"'6%718*,'/%2+%" 8BCWFA=C&01&-=QJ*&/J,
?%":18% (*2:1,,%<'!%22&.,:*21* @*":*"7'?80##,'#$'6%71812%
921:%"&1+.'@#&51+*,'#$'^1o-% F"1-0*)'*27'G#)%2p&'@#&51+*,
^1o-%<'F%,-14) .JFG?>NNB&/G>IL*&+, F#&+#2<'6*&&*804&%++&
/%2+"%'$#"'/4+*2%*#4&'A%&%*"80
8=FCQF&+FG=F&/=GFQQ=C=*&+, F*"+&'*27'+0%'^#27#2'r4%%2'6*".p&' %NBPJBC&-=QJFGKH>C*&+,
(%5*"+)%2+'#$'(%")*+#,#-. ?80##,'#$'6%71812%'*27'(%2+1&+". E2&+"48+#"<'(%5*"+)%2+'#$'(%")*+#,#-.
921:%"&1+.'#$'F#,#-2* 921:%"&1+.'#$'^#27#2 921:%"&1+.'#$'!%22&.,:*21*'@%*,+0'?.&+%)
F#,#-2*<'E+*,. ^#27#2<'32-,*27 !01,*7%,501*<'!%22&.,:*21*
DDD=
;>JC&%1&'F?HJ*&+, +FGL&0?=UFIBNJ&'=?H>C*&+, +=CF&9FFG*&+,
=&&1&+*2+'!"#$%&&#"<'(%5*"+)%2+'#$' =&Q*+%'/,1218*,'!"#$%&&#"'#$'6%71812% !"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-.
(%")*+#,#-. @*":*"7'6%718*,'?80##, F#&+#2'921:%"&1+.'?80##,'#$'6%71812%
6*.#'6%718*,'?80##, =&Q*+%'!"#$%&&#"'#$'!#54,*+1#2'*27' F#&+#2<'6*&&*804&%++&
/#2&4,+*2+'12'(%")*+#,#-.'*27' E2+%"2*+1#2*,'@%*,+0
(%")*+#5*+0#,#-. @*":*"7'?80##,'#$'!4K,18'@%*,+0 #?IBGN&.1&9FC*&+,
6*.#'/,1218 F#&+#2<'6*&&*804&%++& =&&1&+*2+'!"#$%&&#"
H*8D:1,,%<'J,#"17* (1"%8+#"<'!%71*+"18'(%")*+#,#-.
->IBGN&'=CQJBHNBG*&+, /01,7"%2p&'@#&51+*,'#$'!01,*7%,501*
->SBG&51&'BBC=S*&+,*&+/5 !"#$%&&#"<'(%5*"+)%2+'#$'!%71*+"18& M0%'921:%"&1+.'#$'!%22&.,:*21*
=&&1&+*2+'!"#$%&&#"<'(%5*"+)%2+'#$' /#,4)K1*'!"%&K.+%"1*2'6%718*,'/%2+%" !01,*7%,501*<'!%22&.,:*21*
(%")*+#,#-. /#,4)K1*'921:%"&1+.'/#,,%-%'#$'
6*.#'/,1218'?80##,'#$'6%71812% !0.&181*2&'*27'?4"-%#2& !=A&81&9FCQBL*&+,
A#80%&+%"<'6122%&#+* >%B'C#"D<'>%B'C#"D !"#$%&&#"'*27'/0*1")*2<'(%5*"+)%2+'#$'
(%")*+#,#-.
#GC>?K&61&'B=CIBGS*&+, +FGC=&.1&'=HBAFC*&+,*&)-./. 921:%"&1+.'#$'M%[*&'?#4+0B%&+%"2'
!"#$%&&#"'#$'6%71812% 921:%"&1+.'#$'6*21+#K* 6%718*,'/%2+%"'*+'(*,,*&
6*&&*804&%++&'W%2%"*,'@#&51+*, /*28%"'/*"%'6*21+#K* (*,,*&<'M%[*&
@*":*"7'6%718*,'?80##, G122%5%-<'/*2*7*
F#&+#2<'6*&&*804&%++& 2=?&9>H=P><=NQJ*&+,
!FGBC&+1&'=HH*&+, !"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-.<'
+FGN=C&'B=CHN>QO*&+,*&/J, !"#$%&&#"'#$'6%71812%'*27'!%71*+"18& *27'>%4"#K1#,#-.'k'=2*+#).
(1"%8+#"<'(1:1&1#2'#$' (1:1&1#2'#$'(%")*+#,#-. G*D%'J#"%&+'6%718*,'/%2+%"
(%")*+#%517%)1#,#-. 921:%"&1+.'#$'6*&&*804&%++&'6%718*,' G12&+#2X?*,%)<'>#"+0'/*"#,12*
F"#B2'921:%"&1+. ?80##,
/01%$'#$'(%")*+#,#-. 921:%"&1+.'#$'6*&&*804&%++&'6%)#"1*,' #CN>CL&-1&9>@CS*&/J,
;%+%"*2&'=$$*1"&'6%718*,'/%2+%" @%*,+0'/*"% (%54+.'@%*7<'?+I'H#02p&'E2&+1+4+%'#$'
!"#:17%28%<'A0#7%'E&,*27 G#"8%&+%"<'6*&&*804&%++& (%")*+#,#-.
(1:1&1#2'#$'W%2%+18&'*27'6#,%84,*"'
+FGSFGBN&'B=HH*&+, !?F@H&'>?RR*&+,*&)-./ 6%71812%
(%5*"+)%2+'#$'(%")*+#,#-. !"#$%&&#"'#$'(%")*+#,#-. Z12-p&'/#,,%-%'^#27#2'?80##,'#$'6%71812%
H#02&'@#5D12&'921:%"&1+.'?80##,'#$' /0*1")*2'3)%"1+4& W4.p&<'Z12-p&'/#,,%-%<'*27'?+I'M0#)*&p'
6%71812% (%5*"+)%2+'#$'(%")*+#,#-. @#&51+*,&
F*,+1)#"%<'6*".,*27 6%718*,'921:%"&1+.'#$';1%22* 921:%"&1+.'#$'^#27#2
;1%22*<'=4&+"1* ^#27#2<'32-,*27
->IBGN&'B=HH*&+,
(%5*"+)%2+'#$'(%")*+#,#-. %NBPJBC&01&'>?<BGN>C*&+, 0<FG=HN>&%_CQJBU&9@H*&+,
H#02&'@#5D12&'921:%"&1+.'?80##,'#$' !"#$%&&#"'#$'/,1218*,'(%")*+#,#-. (%5*"+)%2+'#$'(%")*+#,#-.
6%71812% ;18%'/0*1"'#$'/,1218*,'=$$*1"& @#&51+*,'/,s218#'?*2'/*",#&
F*,+1)#"%<'6*".,*27 E271*2*'921:%"&1+. /147*7'921:%"&1+*"1*
E271*2*5#,1&<'E271*2* 6*7"17<'?5*12
:=QN>G=F&/1&'BGNJ*&+,
!"#$%&&#"<'(%5*"+)%2+'#$'(%")*+#,#-. 2FGL&%1&'>>K*&+, %N@FGN&51&9@HPF*&+,
921:%"&1+.'#$'!%22&.,:*21* !"#$%&&#"'*27'/0*1"<'(%5*"+)%2+'#$' /01%$<'^*K#"*+#".'#$'/*28%"'F1#,#-.'
!01,*7%,501*';%+%"*2&'=$$*1"&'6%718*,' (%")*+#,#-. *27'W%2%+18&
/%2+%" 921:%"&1+.'#$'G1&8#2&12 /%2+%"'$#"'/*28%"'A%&%*"80
!01,*7%,501*<'!%22&.,:*21* 6*71<'G1&8#2&12 >*+1#2*,'/*28%"'E2&+1+4+%
>*+1#2*,'E2&+1+4+%&'#$'@%*,+0
"@Q=?B&01&'J=NB*&+, ->IBGN&'>>K*&+, F%+0%&7*<'6*".,*27
=&&1&+*2+'!"#$%&&#"<'(%5*"+)%2+'#$' !"#$%&&#"<'!%71*+"18'=,,%"-.'*27'
(%")*+#,#-. E))42#,#-. #CKGBF&"1&7FBCS?B=C*&+,
J%12K%"-'?80##,'#$'6%71812% (1:1&1#2'#$'E))42#,#-.'k'=,,%"-. (%5*"+)%2+'#$'(%")*+#,#-.
>#"+0B%&+%"2'921:%"&1+. H#02&'@#5D12&'921:%"&1+.'?80##,'#$' M0%'!%22&.,:*21*'?+*+%'921:%"&1+.'
/018*-#<'E,,12#1& 6%71812% /#,,%-%'#$'6%71812%
F*,+1)#"%<'6*".,*27 @%"&0%.<'!%22&.,:*21*
5LEB?&.1&'=??=FAH*&+%Q*&/J,*&)-./
!"#$%&&#"'#$'(%")*+#%517%)1#,#-. ,F<=K&41&'>>K?BL*&+, +FNNJBE&41&7=P>?=*&+,
/%2+%"'#$'3:17%28%XF*&%7'(%")*+#,#-. !"#$%&&#"'*27'/0*1"<'(%5*"+)%2+'#$' (%")*+#,#-.'=&Q*+%&'#$'/#28#"7
>#++12-0*)'921:%"&1+.'@#&51+*,&'>@?' (%")*+#,#-. /#28#"7<'6*&&*804&%++&
M"4&+ Z%8D'?80##,'#$'6%71812%
>#++12-0*)<'921+%7'Z12-7#) 921:%"&1+.'#$'?#4+0%"2'/*,1$#"21* .JG=HN>H&.1&7>@I>@?=H*&+,*&/J,
^#&'=2-%,%&<'/*,1$#"21* !"#$%&&#"'*27'(1"%8+#"
3R>G&-1&'=??=FAH*&+,*&/J, (%5*"+)%2+&'#$'(%")*+#,#-.'*27'
(%5*"+)%2+'#$'!*+0#,#-. E))42#,#-.
3)#".'921:%"&1+. (%&&*4'6%718*,'/%2+%"
=+,*2+*<'W%#"-1* (%&&*4<'W%")*2.
DDD==
-* " . % $ "
G%'*"%'5"#47'+#'5"%&%2+'+01&'?%:%2+0'371X &1#2I' M0"#4-0#4+' +0%' +%[+<' B0%2' *771X *' B%*,+0' #$' 71*-"*)&<' 80*"+&<' *27' *771X
+1#2'#$'!"#$%&#'"()*+,-.'/Ͽ,"4,5.4.'&1 +1#2*,' #2X,12%' 8#2+%2+' 1&' *:*1,*K,%<' +0% +1#2*,' 2%B' 1)*-%&' +#' %20*28%' 427%"X
6.7"("4.'R(EW6V<'B0180'0*&'K%%2'"%#"-*X $#,,#B12-' 18#2' 1&' 5"%&%2+' 12' +0%' +%[+' +# &+*2712-' #$' +0%' +%[+I' 6*2.' )#"%' *771X
21Q%7' *27' &4K&+*2+1*,,.' "%B"1++%2' +#' "%X *,%"+' +0%' "%*7%"P ' M#' &*:%' &5*8%' 12 +1#2*,' 1)*-%&' 8*2' K%' $#427' 12' +0%
O%8+'+0%'84""%2+'&+*+%'#$'+0%'&81%28%<'5"*8X 5"12+<'+0%')*e#"1+.'#$'"%$%"%28%&'*"%'*:*1,X %,%8+"#218':%"&1#2I
+18%<' *27' *"+' #$' 7%")*+#,#-.I' 6#"%' +0*2 *K,%'#2X,12%'#2,.I'M0%'#2X,12%'%71+1#2'*27 M0%' 2%B' $%*+4"%&' *27' 1)5"#:%7' *&X
`T'5%"8%2+'#$'+0%' +%[+' *27'N-4"%&' #$' #4" +0%' #2X,12%' "%$%"%28%&' 8*2' K%' $#427' *+ 5%8+&' #$' (EW6' &0#B8*&%' +0%' B%*,+0
S`a' 80*5+%"&' *"%' 2%B' +#' +01&' %71+1#2<' *& BBBI71-)aI8#)I' G1+0#4+' &*8"1N812-'1+& #$' +0%' 8#2+"1K4+12-' *4+0#"&p' D2#B,X
*"%'`T'5%"8%2+'#$'+0%'*4+0#"&I'E2+%-"*+1#2 $#84&'#2'+0%'&D12'*&'12+%-"*,'+#'*27'"%O%8X %7-%I'G%'0*:%'%27%*:#"%7'+#'12+%-"*+%
#$' +0%' K*&18' *27' 8,1218*,' &81%28%' "%)*12& +1:%' #$' #:%"*,,' 0%*,+0<' +0%' 2%B' %71+1#2 +0*+' D2#B,%7-%' 12+#' *' &12-,%' 8#)5"%X
+0%' (EW6' &1-2*+4"%<' *27' +0%' #"-*21Q*X 5"#:17%&' 128"%*&%7' %)50*&1&' #2' +0%"*5.< 0%2&1:%' *27' 8#2&1&+%2+' "%$%"%28%' +0*+
+1#2' #$' +0%' K##D' 1&' 12+%27%7' +#' 5"#)#+% 7%")*+#,#-18' &4"-%".<' *27' 8#&)%+18' 7%"X B1,,' &%":%' +0%' %748*+1#2*,' *27' "%$%"X
427%"&+*2712-'#$'+0%'&D12'*&'*2'*7*5+1:% )*+#,#-.I' M0%' #2X,12%' %71+1#2' 5"#:17%& %28%' 2%%7&' #$' +0%' %2+1"%' 7%")*+#,#-.
#"-*2' +0*+' 80*2-%&' +0"#4-0#4+' +0%' ,1$% *771+1#2*,' 7%+*1,%7' +%[+' $#"' $4,,' *27' %[X 8#))421+.I' G%' 0#5%' +0*+' .#4' B1,,
&5*2I' /,1218*,' 71&%*&%' 80*5+%"&' *"%' 2#B 0*4&+1:%' 8#:%"*-%' #$' %*80' &4Ke%8+<' )*2. N27' +01&' -#*,' *801%:%7' *27'4&%' (EW6
-"#45%7' B1+012' &%8+1#2&' K.' 5*+0#-%218 *771+1#2*,'1)*-%&<'80*"+&<'*27'*,-#"1+0)&< $#"' +01&' 54"5#&%' $#"' )*2.' .%*"&' +#
*27' 8*4&*+1:%' )%80*21&)<' *27' %*80' &%8X *27' 8#)5"%0%2&1:%' 45X+#X7*+%' ,1+%"*+4"% 8#)%I
+1#2' 1&' 12+"#748%7' K.' +0%' "%,%:*2+' K*&18 "%$%"%28%&I
&81%28%'80*5+%"&I M0%' ,*.#4+' #$' (EW6' 0*&' *,&# Z,*4&'G#,$$
M#'*801%:%'+0%'-#*,'#$')*D12-'+0%'+%[+ 80*2-%7I'A%*7%"&'B1,,'2#B'N27'*2'x=+'* ^#B%,,'=I'W#,7&)1+0
+"4,.' %28.8,#5%718' *27' "%*71,.' *88%&&1K,% W,*28%y' #:%":1%B' *+' +0%' K%-12212-' #$ ?+%50%2'EI'Z*+Q
+#'"%*7%"&'*+'*,,',%:%,&'#$'%[5%"+1&%<'+0%"% %*80' 80*5+%"q' *,-#"1+0)&' $#"' 71*-2#&1& F*"K*"*'=I'W1,80"%&+
*"%'2#B'+B#':%"&1#2&'#$'+0%'K##D<'*'8#2X *27' +0%"*5.' +#' %[5%71+%' 7%81&1#2' )*DX =).'?I'!*,,%"
81&%' 5"12+%7' :%"&1#2' *27' *2' #2X,12%' :%"X 12-q'K#[%&'#2'71$$%"%2+1*,'71*-2#&1&q'*27 (*:17'HI'^%$$%,,
DDD===
!"#$%&'()* *+,,-*.$*/(0*123%4567&88*!"9#4:&0;<*=:2>*!8&2?*(0%0*@"%*)0%9;*"@*A;0>
!"#$%&'()%#*+)*+#,*'--.%-)/+%0-'*1%
%$/('01"!23"(&)
G%' *"%' :%".' -"*+%$4,' +#' +0%' 8#2+"1K4+12- F%"2*,<' *27' W"*8%' /*)1"%z7%&%":%' &5%X @1,,' +%*)<' %&5%81*,,.' =22%' 6I' ?.7#"<
*4+0#"&'B0#'B#"D%7'8,#&%,.'B1+0'4&'*27 81*,' "%8#-21+1#2' $#"' +0%1"' %[+"*#"712*". A#K%"+' !*28#++1<' ?0%""1' ?#4$$"*28%<
#2%'*2#+0%"'427%"'-"%*+'+1)%'8#2&+"*12+& ,%:%,' #$' *&&1&+*28%' B1+0' )*24&8"15+& /0*"1&&*'F*D%"<'=")%2'L:&%5.*2<'Z%:12
+#' )*12+*12' +0%' %[8%,,%2+' &+*27*"7&' #$ +0"#4-0#4+' +0%' 5"#8%&&' #$' "%:1%B' *27 6#"*2<'@%,%2'!*""<'*27'=,%[*'F,#27%,,I
(EW6'12'*'"*718*,,.'2%B'$#")*+I'G%'*"% 54K,18*+1#2I'M0%':1K"*28.'#$'+0%'2%B'71*X
*,&#'127%K+%7'+#'#4"'$*)1,1%&'$#"'+0%1"'42X -"*)&<'*,-#"1+0)&<'*27'80*"+&'1&'+0%'B#"D Z,*4&'G#,$$
7%"&+*2712-' *27' &455#"+<' *&' B%,,' *&' +0% #$'?4&*2'W1,K%"+<'/6E<'+#'B0#)'B%'*"% ^#B%,,'=I'W#,7&)1+0
+1)%'B1+0'4&'+0%.'-*:%'45'74"12-'+0%'7%X -"*+%$4,' $#"' 0%"' 71,1-%2+' %$$#"+&' 7#2% ?+%50%2'EI'Z*+Q
:%,#5)%2+' #$' +0%' 2%B' %71+1#2I' ?455#"+ B1+012' *' :%".' 71$N84,+' &80%74,%I' J12*,,.< F*"K*"*'=I'W1,80"%&+
&+*$$' *+' #4"' 12&+1+4+1#2&' B0#' 0%,5%7' 4& B%' B1&0' +#' *8D2#B,%7-%' +0%' %[8%,,%2+ =).'?I'!*,,%"
B1+0' +01&' %71+1#2zA%2*+%' Z#&)*<' H*8. -417*28%'*27'0*"7'B#"D'#$'+0%'68W"*BX (*:17'HI'^%$$%,,
DDD<
!"#$%&'()* *+,,-*.$*/(0*123%4567&88*!"9#4:&0;<*=:2>*!8&2?*(0%0*@"%*)0%9;*"@*A;0>
!"#$%&'()%#*+)*+#,*'--.%-)/+%0-'*1%
!" #$
! !"#$%&'(#)%"*
!
16/75,.*8 +<&2('$#) +&/) '.%+'5%&') ('.+'%<$%() 12.
4+'$%&'()9+(%/)2&)+6+$,+9,%)%6$/%&#%)E#,$&-
+,(;)#2*2.')('3/$%(;)$&)@*$#*)%F42(3.%)'2
'*%).$(D)1+#'2.)$()D&2@&)@%,,)9%12.%)'*%
$#+,)%4$/%5$2,2<:G;)+&/)'*%)('.3#'3.$&<)21 ('3/:) 23'#25%) $() D&2@+9,%;) +62$/) 42-
*%+,'*) #+.%) /%,$6%.:) 12.) 9%''%.) 23'#25%( '%&'$+,,:) (%.$23() 9$+(%(7) L&) +) #2*2.'
"#$%&'()$*(+,+-.% +&/) <.%+'%.) %10#$%&#:) E*%+,'*) (%.6$#%() .%- ('3/:;) '*%) $&#$/%&#%) 21) '*%) ('3/:) 23'-
(%+.#*G7) B*%) .%+/%.) $() .%1%..%/) '2) 2'*%. #25%) #+&) 9%) 5%+(3.%/) /$.%#',:) $&) %+#*
/0)%123)$0%+4% (23.#%()12.) +)52.%)/%'+$,%/)/$(#3(($2&) 21 <.234;)+&/)'*%).%,+'$6%).$(D)#+&)9%)5%+(-
6+.$23()'24$#()$&)/%.5+'2%4$/%5$2,2<:7!IJ 3.%/) /$.%#',:) +() '*%) .+'$2) 21) '*%) $&#$-
56(0%7(8$/8$ /%&#%)9%'@%%&)'*%)'@2)<.234(7
C2*2.') ('3/$%() 21'%&) +.%) A3$'%) %F4%&-
9:$#)"*/;*<=)">#%(? 5D7,3*2E*,7!4,9!202+!1*35F4!,3 ($6%)'2)#2&/3#')9%#+3(%)'*%:).%A3$.%)12,-
9:$@A9:$B:$=#*1C$=" B*.%%) 21) '*%) 5+&:) ':4%() 21) %4$/%5$2- ,2@$&<)+),+.<%)4243,+'$2&)26%.)'$5%)+&/
,2<$#)('3/$%()+.%)5%&'$2&%/)*%.%)9%#+3(% 5+:)9%)$542(($9,%)$1)'*%)23'#25%)9%$&<
21)'*%$.)4.25$&%&#%)$&)%4$/%5$2,2<$#).%- ('3/$%/) $() 3৸&7) W%&#%;) 29(%.6+-
"#$%&'$('()$&)*%+,'*-.%,+'%/)0%,/()12#3()2& (%+.#*7) B*%) .+&/25$K%/;) #2&'.2,,%/) '.$+, '$2&+,) ('3/$%() 21'%&) 3(%) '*%) #+(%-#2&'.2,
4*%&25%&+)+')/$11%.%&'),%6%,(7)82.),+92.+- $()+)4+.'$#3,+.,:).$<2.23()':4%)21)('3/:)+4- +44.2+#*;) $&) @*$#*) #+(%() @$'*) '*%) 23'-
'2.:)(#$%&'$('(;)'*%)12#3()$()+')'*%)52,%#3- 4.24.$+'%) '2) '*%) %6+,3+'$2&) 21) 439,$# #25%)9%$&<)('3/$%/)+&/)+44.24.$+'%)#2&-
,+.;)#%,,3,+.;)2.)2.<+&)(:('%5),%6%,=)12.)#,$&- *%+,'*)$&'%.6%&'$2&(7)L&)<%&%.+,;)'*%)$&'%.- '.2,() +.%) $&6%('$<+'%/) '2) /%'%.5$&%) '*%$.
$#+,)(#$%&'$('(;)'*%)12#3()$()2&)'*%)4+'$%&'= 6%&'$2&) $() 4%.12.5%/) 2&) +) .+&/25) (+5- 4+(')%F42(3.%)'2)'*%).$(D)1+#'2.7)Y%,+'$6%
+&/)12.)439,$#)*%+,'*)4.+#'$'$2&%.(;)'*%)12- 4,%) 21) '*%) ('3/:) 4243,+'$2&;) +&/) '*%) %&- .$(D() <%&%.+,,:) #+&) 9%) %('$5+'%/) 9:) '*$(
#3()$()2&)'*%)4243,+'$2&7)>4$/%5$2,2<:)$( '$.%)('3/:)4243,+'$2&)$()'*%&)29(%.6%/)12. +44.2+#*;)+,'*23<*)$&#$/%&#%)21)'*%)/$(-
'*%)9+($#)(#$%&#%)21)439,$#)*%+,'*7 '*%) 2##3..%&#%) 21) '*%) 23'#25%) $&) A3%(- 2./%.) #+&&2'7) Y%+/%.() +.%) .%1%..%/) '2
>4$/%5$2,2<:) *+() 5+&:) (39/$6$($2&( '$2&7)B*%).+&/25)+(($<&5%&')21)$&'%.6%&- ('+&/+./) '%F'() 12.) 52.%) /%'+$,) .%<+./$&<
+&/)211(*22'(7)?1'%&)'*%)!"#$!%#&'&()*&+*, '$2&)+,,2@()'*%)52.%).$<2.23()+44,$#+'$2& %4$/%5$2,2<$#) ('3/:) /%($<&(7T) C+(%-
$#-!,-!)$&)+)#,$&$#+,).%6$%@).%1%.()4.$5+.$,: 21) 5+&:) ('+'$('$#+,) '%#*&$A3%() +&/) .%- #2&'.2,)+&/)#2*2.')('3/:)5%'*2/()$&)/%.-
'2) $'() 1.%A3%&#:) +&/) /$('.$93'$2&) $&) '*% /3#%() '*%) 42'%&'$+,) 12.) 9$+(7) >,$5$&+'$2& 5+'2,2<:)+,(2)*+6%)9%%&).%6$%@%/7ZIR
4243,+'$2&)+&/)%('$5+'%()21)$'()52.9$/$': 21)9$+(%()4%.5$'()'*%(%)('3/$%()'2)%6+,3+'%
+&/)52.'+,$':7)B*%(%) /+'+)+.%)/%.$6%/)9: '*%)%10#+#:)+&/)$54+#')21)+&)$&'%.6%&'$2&
/%(#.$4'$6%) %4$/%5$2,2<:7) C+(%-#2&'.2,; 52.%)+##3.+'%,:)'*+&)'.$+,()'*+')/2)&2')+(- G!/3*/-4*12-E2F-4!-+
#2*2.';) +&/) #.2((-(%#'$2&+,) ('3/$%() 5+: ($<&) '*%) $&'%.6%&'$2&) .+&/25,:7) "'+&- B*%)4.29,%5)@$'*)$&1%.%&#%)1.25)29(%.-
(%%D)'2)$/%&'$1:).$(D)1+#'2.()+&/)#+3(%()21 /+./()12.).%42.'$&<)*+6%)9%%&)439,$(*%/M 6+'$2&+,)('3/$%()$()'*+')2&%)5+:)9%),%/)'2
/$(%+(%)+&/)12.5)'*%)#2.%)21)+&+,:'$#+,)%4- E*''4NOO@@@7#2&(2.'-('+'%5%&'72.<=),+(' /.+@) %..2&%23() #2&#,3($2&(7) L&) 4+.'$#3-
$/%5$2,2<:7) >6+,3+'$2&() 21) 439,$#) *%+,'* +##%((%/)P3&%)QR;)QSSTG)+&/)+/24'%/)9: ,+.;)+&)+((2#$+'$2&)'*+')$()123&/)9%'@%%&
$&'%.6%&'$2&() E%F4%.$5%&'+,) %4$/%5$2,- ,%+/$&<) /%.5+'2,2<:) H23.&+,() '2) $5- +&)%F42(3.%)+&/)+)/$(%+(%)5+:)9%)+&)+.-
2<:G)#2&('$'3'%)'*%)'*$./)5+H2.)9.+&#*)21 4.26%) +((%((5%&') 21) '*%$.) 6+,$/$':) +&/ '$1+#') /3%) '2) 2&%) 2.) 52.%) 21) '*%) 5+&:
#,+(($#)%4$/%5$2,2<:7)B*%)9+($#)4.$&#$4,%( '*%$.) 3(%) $&) (39(%A3%&') (:('%5+'$# 12.5()21)9$+()2.)#2&123&/$&<7)[.24%.)$&-
21)%4$/%5$2,2<:)*+6%)123&/)9.2+/)+44,$- .%6$%@(U)E(%%)C*+47)QG7 1%.%&#%) .%<+./$&<) #+3(%) +&/) %11%#') .%-
#+'$2&) $&) 5+&:) +.%+(;) $&#,3/$&<) 3&/%.- V*%&) %6+,3+'$&<) .$(D) 1+#'2.() 12.) /$(- A3$.%()3&/%.('+&/$&<)'*%(%)42(($9,%)+.'$-
('+&/$&<)'*%)439,$#)*%+,'*)$54,$#+'$2&()21 %+(%;) $') $() 1.%A3%&',:) $542(($9,%) '2) +(- 1+#'()+&/)'*%$.)42'%&'$+,)$54+#'(7!S
&+'3.+,,:) 2##3..$&<) +&/) (:&'*%'$#) #25- ($<&) '*%) .$(D) 1+#'2.) .+&/25,:7) W%&#%; "%,%#'$2&)9$+()2##3.()@*%&)1+#'2.()'*+'
423&/() E52,%#3,+.) %4$/%5$2,2<:G;) '*% $&1%.%&#%) $() 9+(%/) 2&) 29(%.6+'$2&+, ,%+/)'2)(%,%#'$2&)21)'*%)('3/:)4243,+'$2&
#254,%F)$&'%.+#'$2&()21)<%&%'$#)+&/)%&6$- ('3/$%(7) L&) #,+(($#+,) #2*2.') ('3/$%(;) + +11%#') '*%) ,$D%,$*22/) 21) '*%) 23'#25%() 2.
.2&5%&'+,) 1+#'2.() $&) /$(%+(%) E<%&%'$#) %4$- <.234) @$'*) %F42(3.%) '2) '*%) .$(D) 1+#'2. %F42(3.%()%6+,3+'%/7)82.)%F+54,%;)+)#+(%-
/%5$2,2<:G;) '*%) 12.53,+'$2&) 21)9%''%.)/$- +&/)+)<.234)@$'*23')+.%)#*2(%&)+&/)29- #2&'.2,) ('3/:) 21) #3'+&%23() ,:54*25+
(%.6%/) 26%.) '$5%7) ?##3..%&#%() 21) '*% 5+:) .%#.3$') $'() #+(%() 1.25) (23.#%() '*+'
0)"=:$*H=>)%";*I!HH'>#$:#)%"*J@*+H="*6)"#KL*93; ('3/:) 23'#25%) +.%) #23&'%/) +&/) #25- ':4$#+,,:)$&#,3/%)+)*$<*)4.242.'$2&)21).%-
4=$M:#%H%B@* 0=N)(%"* 7$%O=(#;* -!6A-!/93* 1%"A 4+.%/) 9%'@%%&) <.234(7) X,'*23<*) 52.% 1%..%/) 4+'$%&'(7) L1) #2&'.2,() +.%) .%#.3$'%/
#$:(#*-%;*-28A/.A8APPQQ;R 63,&%.+9,%) '2) 9$+()'*+&) .+&/25$K%/) '.$- 1.25)+),2#+,)#,$&$#)4243,+'$2&;)'*%$.)(2#$2- !
!"#$%&'()* *+,,-*.$*/(0*123%4567&88*!"9#4:&0;<*=:2>*!8&2?*(0%0*@"%*)0%9;*"@*A;0>
%#2&25$#)('+'3()+&/),2#+'$2&)21).%($/%&#% '*%) +9('.+#') 93') (25%'$5%() /$10#3,') '2 ,NT=$)M="#
5+:)9%)(39('+&'$+,,:)/$11%.%&')1.25)'*2(% %('+9,$(*) $&) 4.+#'$#%) 9%#+3(%) '*%) 2&(%'
21)'*%)#+(%()($54,:)/3%)'2)'*%)5%'*2/)21 21)/$(%+(%)5+:)4.%#%/%)'*%)/$+<&2($()21 >F4%.$5%&'+,) (3442.') $() #.$'$#+,) @*%&
.%#.3$'5%&'7) \&/%.) '*%(%) #$.#35('+&#%(; /$(%+(%) 9:) :%+.(;) +&/) '*%) '$5$&<) 21) %F- 1%+($9,%7)X()&2'%/)$&)B:4%()21)>4$/%5$-
+&) +((2#$+'$2&) 21) #3'+&%23() ,:54*25+ 42(3.%)$()21'%&)&2')@%,,)/%0&%/7 2,2<$#) "'3/$%(;) '*%) ('.2&<%(') $&1%.%&#%(
@$'*) 2##34+'$2&) 5+:) 9%) &2'%/7) L') '*%& /%.$6%)1.25).%(3,'()21).+&/25$K%/)'.$+,(;
9%#25%() $542.'+&') '2) &2'%) '*+') '*%) 29- +,'*23<*) 2'*%.) %F4%.$5%&'+,) /%($<&(
(%.6%/) +((2#$+'$2&) 5+:) 9%) /3%) &2') '2) + 1%">)>#="(@*%"*.=TH)(:#)%" +&/) A3+($-%F4%.$5%&'+,) /%($<&() 5+:
#+.#$&2<%&$#) #*%5$#+,) $&) '*%) @2.D4,+#% #2&'.$93'%)3(%13,)%6$/%&#%7
Y%4,$#+'$2&) 21) '*%) 29(%.6%/) +((2#$+'$2&
93').+'*%.)'2)'*%)5%'*2/)9:)@*$#*)#+(%( _2.%)/%'+$,%/)/$(#3(($2&()21)'*%(%)$(-
$() D%:) +&/) 4.26$/%() '*%) ('.2&<%(') %6$-
+&/) #2&'.2,() @%.%) (%,%#'%/7) "$5$,+.,:;) $1 (3%()+.%)+6+$,+9,%7!!;!Q)
/%&#%) $1) '*%) .%4,$#+'$2&() +.%) 5+&:) +&/
2&%) @%.%) #2&/3#'$&<) +) #2*2.') ('3/:) 21 /$6%.(%)+&/)@$'*)#2&($('%&').%(3,'(7)B*%
'*%)%11%#')21)9.%+('-1%%/$&<)2&)'*%).$(D)21 /$6%.($':) 21) '*%) .%4,$#+'$2&() .%1%.() '2 !-V,35!+/5!2-*2E*
+'24$#) /%.5+'$'$(;) $') @23,/) 9%) $542.'+&' 6+.$%/) #2&'%F'() +() @%,,) +() '2) ('3/:) /%- 4!3,/3,*2F5G.,/W3*
'2)(%,%#')9.%+('-1%/)+&/)92'',%-1%/)$&1+&'( ($<&() @$'*) /$11%.%&') 42'%&'$+,) @%+D-
1.25)($5$,+.)%&6$.2&5%&'(7 X,'*23<*)23'9.%+D()21)/$(%+(%)6+.:)'.%-
&%((%()+&/)('.%&<'*(7
L&12.5+'$2&) 9$+() 2##3.() @*%&) '*%) +(- 5%&/23(,:;) 3(%) 21) +) ('+&/+./) 1.+5%-
(%((5%&') 21) %F42(3.%) 2.) 23'#25%) 5+: @2.D) 12.) $&6%('$<+'$2&) $() $542.'+&') '2
/$11%.) 9%'@%%&) '*%) <.234() 9%$&<) #25- 3#$="B#C*%U*/>>%():#)%" +//.%(() '*%) 439,$#) *%+,'*) $((3%() %10-
4+.%/7) [%24,%) @*2) @%.%) %F42(%/) '2) + #$%&',:) E(%%) C*+47) JG7) B*%) C%&'%.() 12.
439,$#$K%/) %&6$.2&5%&'+,) '2F$&) 5+:) 9% B.3%) #+3(+,) .%,+'$2&(*$4() 5+:) 9%) ('.2&< `$(%+(%)C2&'.2,)+&/)[.%6%&'$2&)*+()23'-
52.%),$D%,:)'2)(%%D)#+.%)12.)5$&2.)(:54- E$7%7;) *$<*) .%,+'$6%) .$(DG) 2.) @%+D;) 93') +.'$- ,$&%/) '*$() 1.+5%@2.D) +() +) (%.$%() 21) !S
'25()2.)($<&()E+&/)*%&#%)9%)52.%),$D%,: 1+#'3+,)+((2#$+'$2&()+.%)3&,$D%,:)'2)*+6%)+ ('%4(;) @*$#*) +.%) /%(#.$9%/) $&) 52.%) /%-
'2) 9%) /$+<&2(%/) +&/) '.%+'%/G) '*+&) '*2(% *$<*) .%,+'$6%) .$(D7) L1) '*%) +((2#$+'$2&) 9%- '+$,)+')*''4NOO@@@7#/#7<267
@*2)@%.%)&2')(2)%F42(%/;)%6%&)$1)'*%)%F- '@%%&)1+#'2.().)+&/)))$()/3%)'2)'*%)+((2#$-
+'$2&)21)92'*)@$'*)#2&123&/$&<)6+.$+9,%)/; !7 72!",2,4#&37) a%12.%) $&$'$+'$&<) 0%,/-
42(3.%) *+/) &2) 9$2,2<$#) %11%#'7) "$5$,+.,:; @2.D;)9+#D<.23&/)$&12.5+'$2&)2&)'*%
4%24,%)@*2)+.%)/$+<&2(%/)@$'*)+)/$(%+(% '*%)5+<&$'3/%)21)'*%)+((2#$+'$2&)9%'@%%&
.)+&/)))+,@+:()@$,,)9%),%(()'*+&)'*%)5+<- /$(%+(%)53(')9%)<+'*%.%/;)+&/)+44.2-
5+:) 9%) 52.%) ,$D%,:) '2) .%#+,,) 4+(') %F42- 4.$+'%) $&'%.$&('$'3'$2&+,) +&/) $&'%.4%.-
(3.%()'*+&)*%+,'*:)#2&'.2,(7 &$'3/%)21)'*%)+((2#$+'$2&)21)%$'*%.)@$'*)/7
(2&+,)#2&'+#'()(*23,/)9%)5+/%7
C2&123&/$&<)2##3.()@*%&)+&)29(%.6%/ Q7 5&382%*46!*&9402!,:7)[39,$#$':;)4243,+-
+((2#$+'$2&)E2.),+#D)'*%.%21G)9%'@%%&)%F- +$:&=&*/>>%():#)%" '$2&) #*+&<%(;) 2.) 2'*%.) #$.#35('+&#%(
42(3.%)+&/)/$(%+(%)$()/3%)'2)'*%)$&]3%&#% 5+:),%+/)'2)+&)$&+##3.+'%)4%.#%4'$2&
21)+)'*$./)1+#'2.)2&)92'*)'*%)%F42(3.%)+&/ X,(2)/%(#.$9%/)+()0#&'&(#1*(2,$#!34;)'*$()#.$- '*+') 52.%) #+(%() '*+&) %F4%#'%/) *+6%
'*%)/$(%+(%7)82.)%F+54,%;)4%24,%)@*2)3(% '%.$2&).%1%.()'2)+&)+((2#$+'$2&)21)'*%)/%- 2##3..%/7) W%&#%;) ,2#+,) 2.) .%<$2&+,
(3&(#.%%&() 5+:) *+6%) 52.%) $&'%&(%) (3& <.%%)21)%F42(3.%)@$'*)2##3..%&#%)21)/$(- /+'+)(*23,/)9%)(23<*')'2)#2&0.5)'*%
%F42(3.%)'*+&)'*2(%)@*2)/2)&2';)+&/)$&- %+(%;)$&)+//$'$2&)'2)+&)26%.+,,)+((2#$+'$2& %F$('%&#%)21)+&)$&#.%+(%/)1.%A3%&#:)21
'%&(%)(3&)%F42(3.%)$()2&%)#+3(%)21)5%,+- 21) 4.%(%&#%) 21) %F42(3.%) @$'*) /$(%+(%7 /$(%+(%7
&25+7)W%&#%;)29(%.6+'$2&+,)('3/$%()5+: B*$() /2(%-.%(42&(%) .%,+'$2&) 5+:) '+D% J7 5&382%*46!*$#,(3&-#-7)":54'25()+&/
5$('+D%&,:)#2&#,3/%)'*+')(3&(#.%%&)3(%)$( 5+&:)12.5(;)+()/%<.%%)21)%F42(3.%)5+:; ($<&() 21) 4%.(2&() +11%#'%/) (*23,/) 9%
+)#+3(%)21)5%,+&25+)@*%&)'*%)29(%.6%/ 12.) %F+54,%;).%1%.) '2) $&'%&($':;) /3.+'$2&; /%'%.5$&%/) +&/) ,+92.+'2.:) 0&/$&<(
+((2#$+'$2&) $() /3%)'2) (3&(#.%%&)3(%) (%.6- 1.%A3%&#:;)2.),+'%&#:)21)%F42(3.%7 #2&0.5%/;) 4%.*+4() @$'*) '*%) +(($(-
$&<)+()+&)$&/$#+'2.)21)+),$1%(':,%)$&62,6$&< '+&#%)21).%1%.%&#%),+92.+'2.$%(7
$&'%&(%)(3&)%F42(3.%7 M7 ;-4,0'#-6* ,* 1,-!* $!83#4#&3<* ,3$* 83$
1%C=$="(=
1,-!-7) C+.%13,) %4$/%5$2,2<$#) $&6%('$-
1/F3/0*!-E,.,-1, 5&6!2!31!).%1%.()'2)4,+3($9$,$':)9+(%/)2& <+'$2&) @$,,) $&62,6%) 4.%#$(%) +&/) ($5-
%6$/%&#%)2'*%.)'*+&)'*%)%F$('%&#%)21)+& 4,%) #+(%) /%0&$'$2&() '*+') #+&) 9%
^%:)$((3%()$&)'*%)439,$#)*%+,'*)+.%&+)21- +((2#$+'$2&) 9%'@%%&) '*$() %F42(3.%) +&/ +44,$%/) $&) '*%) 0%,/7) >112.'() '2) 0&/
'%&)53(') .%,:) 2&) 29(%.6+'$2&+,) /+'+)12. '*$() /$(%+(%) $&) %4$/%5$2,2<$#) ('3/$%(7 +&/) #23&') +//$'$2&+,) #+(%() 9%:2&/
$&1%..$&<)#+3(%)+&/)%11%#'=)$&)'*%(%)($'3+- C2*%.%&#%) @$'*) %F$('$&<) %4$/%5$2,2<$# '*2(%) .%42.'%/) $&$'$+,,:) $() D%:) '2
'$2&(;)'*%)6+,$/$':)+&/)<%&%.+,$K+9$,$':)21 D&2@,%/<%) 21) '*%) /$(%+(%) $&) A3%('$2& /%0&$&<)'*%)(#24%)21)'*%)23'9.%+D7
'*%)$&/$6$/3+,)('3/$%()+&/)21)'*%)'2'+,$': E%7<7;) 2'*%.) .$(D) 1+#'2.() 12.) '*%) /$(%+(% U7 ;-4,0'#-6* 46!* $!-12#"4#=!* !"#$!%#&'&()7
21)'*%)%6$/%&#%)53(')9%)#+.%13,,:)%F+5- +&/)4243,+'$2&)'.%&/()$&)$'()2##3..%&#%G B*%) #+(%() #+&) &2@) 9%) #*+.+#'%.$K%/
$&%/7) B*%) 12,,2@$&<) #.$'%.$+) <%&%.+,,: +&/) 2'*%.) /$(2./%.() E$&#,3/$&<) 93') &2' $&) '%.5() 21) 4#%!;) $&#,3/$&<) /%6%,24-
+.%)+44,$%/)12.)#+3(+,)$&1%.%&#%)@*%&)+& ,$5$'%/)'2).%,+'%/)/$(2./%.(G)(3442.'()$&- 5%&') 21) +&) %4$/%5$#) #3.6%) '*+'
+((2#$+'$2&)$()123&/7)X,'*23<*)'*%:)+.% 1%.%&#%7)C2*%.%&#%)@$'*)%F$('$&<)D&2@,- /%(#.$9%()'*%)#*+&<%()$&)5+<&$'3/%)21
/%(#.$9%/) 12.) $&1%..$&<) #+3(+,$':) 9%- %/<%) 1.25) 2'*%.) 0%,/(;) 4+.'$#3,+.,: '*%) 23'9.%+D=) "',1!;) $&#,3/$&<) 5+4-
'@%%&) +&) %F42(3.%) +&/) +) /$(%+(%;) '*%: '*2(%) .%,%6+&') '2) 4+'*2<%&%($(;) $() #.$'$- 4$&<)'*%)/$('.$93'$2&)21)#+(%(=)+&/)"!2>
+.%) 52.%) <%&%.+,,:) +44,$#+9,%) '2) %4$/%- #+,,:) $542.'+&') @*%&) '*2(%) 0%,/() +.% -&3;) '*%) /%52<.+4*$#) +&/) 42'%&'$+,
5$2,2<$#)#+3(+,)$&1%.%&#%7 @%,,) /%6%,24%/7) L') 5+:) $&62,6%) /$.%#' %F42(3.%)#*+.+#'%.$('$#()21)#+(%(7
,$&D(;) @*$#*) +.%) 4.%1%..%/;) 2.) +&+,2<:7 T7 ?!=!'&"*6)"&46!-!-7)?&)'*%)9+($()21)'*%
P3(')+()29(%.6+'$2&()$&)'*%),+92.+'2.:)+(- /+'+)<+'*%.%/)$&)('%4()!)'*.23<*)U)+&/
5)M=*3=S'="(=
(35%) <.%+'%.) ($<&$0#+&#%) @*%&) '*%$. '*%)$&43')21) 2'*%.)$&/$6$/3+,(;) 4,+3($-
B*%)%F42(3.%)53(')4.%#%/%)'*%)/$(%+(%7 .%,%6+&#%)$()(3442.'%/)9:)%4$/%5$2,2<$# 9,%)*:42'*%(%()+923')#+3(+,$':)#+&)9%
B*$() #2&#%4') $() ($54,%) +&/) 296$23() $& /+'+;)'*%).%6%.(%)$()%A3+,,:)'.3%7 /%6%,24%/)12.)13.'*%.)%6+,3+'$2&7
9
Z7 5&3$914*,3,')4#1,'*!"#$!%#&'&(#1*#3=!-4#> C+.%13,) +&+,:(%() 21) 52.'+,$':) $&#,3/%
!"#$%&'('
(,4#&3-7) L1) '*%) /+'+) <+'*%.%/) /2) &2' +((%((5%&') 21) '*%) 6+,$/$':) 21) '*%) /+'+7
!"#$%&#'()'(%&()*+',%-$#*(.%!*)*(',%/00/
:%') #,%+.,:) 4.26%) +) *:42'*%($(; _%,+&25+)52.'+,$':)('+'$('$#()+44%+.)'2
#2*2.') +&/) #+(%-#2&'.2,) $&6%('$<+- &1!23!2 &2345!%678 9%) .%+(2&+9,:) +##3.+'%7!M;!U) W2@%6%.;
'$2&() #+&) 9%) #2&/3#'%/) '2) 6%.$1:) 2. 1:"(=$> 88LYZ8 /%+'*() 1.25) D%.+'$&2#:'%) #+.#$&25+(
/$(4.26%)'*%)*:42'*%(%(7 9=H:"%M: [Q8\ +.%) 26%.%('$5+'%/) 9:) +) 1+#'2.) 21) Q
b7 @!=#-!*6)"&46!-!-*,3$*&04,#3*,$$#4#&3,' +=")#:H 8Y8[ E52(',:) /3%) '2) '*%) %..2&%23() $&#,3($2&
!=#$!31!* ,-*3!!$!$7) "'%4()T) +&/)Z) +.% 0@MTC%M: 8Y] 21)53#2(+,)(A3+523()#%,,)#+.#$&25+()21
.%4%+'%/;)%+#*)93$,/$&<)2&)4.$2.)$'%.- 2#C=$*(:"(=$> PZ]8:**IT$)M:$)H@* '*%) *%+/) +&/) &%#D) .%<$2&G;!T;!Z) +&/
+'$2&(;) '2) %('+9,$(*) '*%) #+3(+,) #*+$& J:>:H*:"&*>S':M%'>* /%+'*() 1.25) #3'+&%23() ,:54*25+) +.%
21)%6%&'(7 (=HH*(:$()"%M:R 3&/%.%('$5+'%/)9:)+923')MS)4%.#%&'7!U
R7 A%"'!%!34*1&342&'*%!,-92!-7)X()(22&)+( FH(=$> 8^[8
'*%) #+3(+,) #*+$&) 21) %6%&'() $() 3&/%.- G:(#=$):H*)"U=(#)%"> 8P_Z
('22/;) 4.%6%&'$2&) +&/) #2&'.2,) 5%+- !"()&="(=
G'HH%'>*&)>%$&=$> 8^\
(3.%()+.%)$&$'$+'%/7 A31#$!31!) .%1%.() '2) '*%) &359%.) 21) &%@
2#C=$*(:'>=> _8]
!S7 5&%%93#1,4!*2!-9'4-7)X&)23'9.%+D)$&6%(- #+(%()21)+)/$(2./%.7)_2.'+,$':)$(),2@)12.
"+;/, 8\L]^_
'$<+'$2&)$()&2')#254,%'%)3&'$,)'*%).%(3,'( 52(') (D$&) /$(%+(%(=) *%&#%;) $&#$/%&#%
*+6%) 9%%&) +44.24.$+'%,:) #2553&$- :<=*=>#)M:#=*#C:#*:TT$%N)M:#=H@*%"=AC:HU*%U*#C=>=*
5+:) 9%) +) 52.%) 3(%13,) 5%+(3.%) 12.) '*%
#+'%/)'2)'*%).%,%6+&')#2553&$'$%(7 :$=*M)>(H:>>)`=&*>S':M%'>*(=HH*(:$()"%M:>*:$)>)"B* +((%((5%&') 21) 93./%&) 21) (D$&) /$(%+(%7
U$%M*M'(%>:H*>'$U:(=>*)"*#C=*C=:&*:"&*"=(?;8^
/&:T#=&*U$%M*C##TXaab%"&=$;(&(;B%caM%$#!148Yd; W2@%6%.;) 5+&:) 1%+'3.%() 21) (D$&) /$(-
C#MH*Ic=$)`=&*d'"=*8ZL*PYY^R; %+(%() 5+D%) '*%$.) $&#$/%&#%) /$10#3,') '2
4,31.!75!2-3*2E*4!3,/3,* 5%+(3.%7) 82.) %F+54,%;) 12.) 5+&:) (D$&
!-*727F0/5!2-3X*9,/3F.,3* /$(2./%.(;) '*%.%) +.%) &2) /$+<&2('$#) ,+92-
2E*4!3,/3,*GF.4,- .+'2.:)'%('(;)+&/;)$&)1+#';)(25%)/$(2./%.(
4#&3,'*5',--#81,4#&3*&+*?#-!,-!-)#2/%)21)'*%
c2) ($&<,%) &359%.) #+&) #254,%'%,:) /%- 3&/%.,:$&<) #+3(%) 21) %+#*) /%+'*) $() .%- 5+:)%6+/%)4*:($#$+&)/$+<&2($()E%7<7;)+,-
(#.$9%)'*%)93./%&)21)(D$&)/$(%+(%)9%#+3(% #2./%/7) 82.) '*%) :%+.) QSSQ;) '*%.%) @%.% ,%.<$#) .%+#'$2&(G7) L&#$/%&#%) 12.) .%42.'-
'*+') 93./%&) *+() 5+&:) /$5%&($2&() +&/ !M;RTb) /%+'*() .%42.'%/) +() /3%) '2) f(D$& +9,%) #2553&$#+9,%) /$(%+(%() $&) '*%
9%#+3(%) '*%) '%.5) -:#3* $#-!,-!) $'(%,1) $( /$(%+(%g) $&) '*%) \&$'%/) "'+'%(;) 21) @*$#* \&$'%/) "'+'%() $() 439,$(*%/) 4%.$2/$#+,,:
.+'*%.) +59$<323(7) _+&:) /$(2./%.() @$'* 52(')@%.%)/3%)'2)5%,+&25+)EB+9,%)!-!G7 9+(%/)2&).%42.'()'2)*%+,'*)/%4+.'5%&'(;
(39('+&'$+,) 52.9$/$':) 2.) 52.'+,$':;) (3#* X//$'$2&+,) 5+H2.) #+3(%() $&#,3/%/) 2'*%. +,'*23<*) 3&/%.-.%42.'$&<) 21) (D$&) /$(-
+()5%,+&25+)2.),343()%.:'*%5+'2(3(;)+1- (D$&)#+&#%.()E4.$5+.$,:)D%.+'$&2#:'%)#+.- %+(%()/3%)'2)1+$,3.%)'2)4.%(%&')12.)5%/$-
1%#') 53,'$4,%)2.<+&)(:('%5(7) B*%)/%<.%% #$&25+(G;) $&1%#'$2&() 21) '*%) (D$&;) +&/ #+,)#+.%) 2.)'2)5$(/$+<&2($() $() +)#2&#%.&
21) (D$&) $&62,6%5%&') 5+:) 6+.:) @$/%,: (D$&) 3,#%.() E4.$5+.$,:) /%#39$'3() 3,#%.(G7 EB+9,%)!-QG7)L&#$/%&#%()21)5%,+&25+)+&/
1.25) 4+'$%&') '2) 4+'$%&') +&/) @$'*$&) '*% a3,,23() /$(2./%.() .%4.%(%&'%/) +923') ! #3'+&%23() ,:54*25+) *+6%) 9%%&) 439-
(+5%)4+'$%&')1.25)'$5%)'2)'$5%7)`$(%+(%( 4%.#%&')21)'*%(%)/%+'*(7)B*%)'2'+,)&35- ,$(*%/) 9+(%/) 2&) /+'+) 1.25) +) (:('%5) 21
&2') ':4$#+,,:) '.%+'%/) 9:) /%.5+'2,2<$('(; 9%.)21)(D$&)/$(%+(%)/%+'*(;)21)#23.(%;)/%- &+'$2&@$/%)#+&#%.).%<$('.$%(;):%')3&/%.-
(3#*)+()'*%.5+,)93.&(;)21'%&)+.%)%F#,3/%/ 4%&/()#.$'$#+,,:)2&)'*%)/%0&$'$2&)21)(D$& .%42.'$&<) .%5+$&() +) 42'%&'$+,) #2&#%.&
1.25)%('$5+'%()21)'*%)93./%&)21)(D$&)/$(- /$(%+(%;)+()&2'%/)$&)`%(#.$4'$2&()21)`$(- @$'*) '*%(%) /+'+7!b;!R) "4%#$+,) (3.6%:(
%+(%)%6%&)'*23<*)'*%:)4.$5+.$,:)$&62,6% %+(%) $&) [243,+'$2&(N) _%+(3.%() 21) `$(- *+6%) 9%%&) #2&/3#'%/) '2) %('$5+'%) $&#$-
'*%) (D$&7) L&) +//$'$2&;) (25%) /$(%+(%( %+(%)a3./%&7 /%&#%)21)2'*%.)/$(2./%.(;)(3#*)+()D%.+'$-
'.%+'%/) 52(') 21'%&) 9:) /%.5+'2,2<$('( L&) +//$'$2&) '2) '*%) '2'+,) &359%.) 21 &2#:'%) #+.#$&25+(;) +,'*23<*) +) (:('%5
5+:) 9%) #,+(($0%/) $&) +) /$11%.%&') #+'%<2.: /%+'*(;) 52.'+,$':) ':4$#+,,:) $() %F4.%((%/ 21) (%&'$&%,) .%<$('.$%() @23,/) 9%) .%A3$.%/
9:)13&/$&<)+<%&#$%()2.)2'*%.()d%7<7;)5%,+- +()+&)+<%-+/H3('%/).+'%)'2)1+#$,$'+'%)#25- 12.) &+'$2&@$/%) +((%((5%&'7QS) 82.) (25%
&25+) $() #,+(($0%/)+() +&)2,2<$#)/$(2.- 4+.$(2&() +52&<) 4243,+'$2&() @$'*) /$1- /$(%+(%() 3&,$D%,:) '2) %6+/%) 5%/$#+,) /%-
/%.)+()2442(%/)'2)+)/$(%+(%)21)'*%)(D$&)9: 1%.%&') +<%) /$('.$93'$2&(7) "'+'%5%&'() 21 '%#'$2&) /3%) '2) '*%$.) (%6%.$':;) (3#*) +(
'*%) c+'$2&+,) L&('$'3'%() 21) W%+,'*) +&/ +<%-+/H3('%/).+'%()21)52.'+,$':)E2.)2'*%. '2F$#)%4$/%.5+,)&%#.2,:($(;)%112.'()'2)%(-
9:)'*%)A34!23,4#&3,'*5',--#81,4#&3*&+*?#-!,-!-; .%(3,'() ('+&/+./$K%/) 9:) +<%G) (*23,/) 9% '$5+'%)$&#$/%&#%)*+6%)5%')@$'*)#2&($/-
E*''4NOO@@@7@*27$&'O#,+(($0#+'$2&(O+44(O +##254+&$%/) 9:) +&) $&/$#+'$2&) 21) '*% %.+9,%)(3##%((7Q!;QQ)"4%#$0#)#2&'%F'()'*+'
$#/O$#/!S2&,$&%O;)+##%((%/)P3&%)QR;)QSSTG ('+&/+./) 3(%/) $&) '*%) +/H3('5%&') '2 4%.5$') 52.%) +##3.+'%) $&#$/%&#%) %('$-
%6%&) '*23<*) $') +,52(') +,@+:() +.$(%() $& +62$/)42'%&'$+,,:)5$(,%+/$&<)$&1%.%&#%(7 5+'%()$&#,3/%)'*%)@2.D4,+#%=)12.)%F+5-
'*%)(D$&e7)?.<+&)(:('%5()+.%)$&'%..%,+'%/; 82.) %F+54,%;) @*%&) !RRb) 5%,+&25+ 4,%;)@*%.%)2##34+'$2&+,)(D$&)/$(%+(%)$()+
+&/) '*%) 26%.,+4) $() (310#$%&',:) <.%+') '*+' 52.'+,$':) .+'%() +.%) %('$5+'%/) 3($&<) '*% 4.%6+,%&')4.29,%57QJ
+&:)/%0&$'$2&)21)(D$&)/$(%+(%)$()&%#%((+.- QSSS) \7"7) 4243,+'$2&) ('+&/+./;) '*%) .%-
$,:) +.9$'.+.:;) +&/) +&:) <,29+,) %('$5+'%) 21 (3,')$()US)4%.#%&')*$<*%.)'*+&)$1)'*%)!RMS
'*%) 439,$#) *%+,'*) 93./%&) 21) '*%(%) /$(- 1%C%$#*7:##=$">
\7"7)('+&/+./)4243,+'$2&)$()3(%/)E!7b)6(7
%+(%()$()'*%.%12.%)24%&)'2)#*+,,%&<%7)B:4- !7Q)4%.)!SS;SSS)4%.):%+.)12.)@25%&)+&/ C2*2.')4+''%.&()21)#*+&<%()$&)52.'+,$':
$#+,) 5%+(3.%() 21) /$(%+(%) 93./%&) +.%) /$(- M7!) 6(7) Q7Z) 4%.) !SS;SSS) 4%.) :%+.) 12. 2.) $&#$/%&#%) ':4$#+,,:) +.%) 29(%.6%/
#3((%/)$&)'*%)12,,2@$&<)(%#'$2&(7 5%&G7)"$5$,+.,:;)@*%&):%+.()21)42'%&'$+, @*%&) %F42(3.%() /%'%.5$&%/) $&) #*$,/-
,$1%) ,2(') $() .%42.'%/;) '*%) .%+/%.) 53(') 9% *22/) 4.%/$#') 1.%A3%&#:) 21) /$(%+(%
@+.:) 21) /$11%.%&') /%0&$'$2&() '*+') 5+: '*.23<*23') '*%) ,$1%) (4+&7) X) #,+(($#) %F-
9%$#:H)#@
9%)+44,$%/7)L&)2&%)+&+,:($(;)+)/%#,$&%)$& +54,%)$()5%,+&25+)52.'+,$':;)12.)@*$#*
_2.'+,$':)$()+)#.$'$#+,)5%+(3.%)21)/$(%+(% 52.'+,$':)1.25)5%,+&25+)@+()&2'%/)9: (3&)%F42(3.%)$&)#*$,/*22/)$()+&)$542.-
$54+#'7) `%+'*) #%.'$0#+'$2&) $() 3&$6%.(+, 2&%) /%0&$'$2&) '*+') @+() &2') 29(%.6%/ '+&') /%'%.5$&+&'7) X) 9$.'*) #2*2.') $() /%-
$&) '*%) \&$'%/) "'+'%(;) +&/) '*%) A34!23,> @$'*)+&2'*%.7!J 0&%/) +() '*%) <.234) 21) $&/$6$/3+,() 92.& :
!"#$%&'()
7(9%:)'('%;<%!(=(>*(.%?(@;A*)B=(%&#'()'('%#$%*+(%-$#*(.%!*)*('
CDE0 CDF0 CDG0 CDH0 CDI0 CDD0 /000 /00F
/(S')$=&*)MM'"%&=`()="(@* e e e e e \8LQ]Q \YL[Q_ ZYLQ^_
>@"&$%M=
/"#C$:N [^ \] PZ P 8 Y 8 e
1%"B=")#:H*$'J=HH: e e e [[ QY 88 ] 8
1%"B=")#:H*>@TC)H)> e e e e e Z_^Q QP] P[Z
4)TC#C=$): 8QLQZ^ Q[]^ ]8_ \ZQ Z \ 8 e
+%"%$$C=: 8[QL_\8 P_^L[\^ PQ_L]ZZ ^YYLY[P 8LYY\LYP] ^]YL8^] ZQ_L]]Q Z8\LZ[Y
6:">="*&)>=:>= e \\ Q\ 8P] PPZ 8]_ ]8 _]
0@M=*&)>=:>= e e e e e e 8[L[ZY P8LZY\
9=:>H=> P]8L8^P Z8]L8P\ \\8L[YZ \[LZQ8 8ZLQY^ P[L[_^ _^ ^P:
7H:B'= 8 Z P 8Z 8_ P ^ [
.%(?@*9%'"#:)"*>T%##=&*U=c=$ \Q[ \^\ PY\ Z_Y 88^Z ^Q8 \]Q 8_\Z
3@TC)H)>*IT$)M:$@*:"&*>=(%"&:$@R e PZL]Z] 8^L8\Q P8L]_P P[LPY\ QYLPPZ Q][] _YPY
5%N)(*>C%(?*>@"&$%M= e e e e e ZPP 8ZQ ]^
5'J=$('H%>)>J 8YPL]_\( 8P8L[\P( QQL\]\ Z[L8Z[ P[L[\] PQL[Y8 8^LZ[[ 88LQ\[
F;3;*T%T'H:#)%"*IM)HH)%">R 8ZP 8Q8 8[] PYZ PP[ P\] P_8 P]^
e*f*&:#:*"%#*:c:)H:JH=;
:E)U#@A%"=*)"&)B="%'>*(:>=>;
J.=T%$#)"B*($)#=$):*(C:"B=&*)"*8][Q;
(4:#:*)"(H'&=*"=bH@*$=T%$#=&*:(#)c=*:"&*)":(#)c=*(:>=>;
/&:T#=&*b)#C*T=$M)>>)%"*U$%M*<=)">#%(?*9/L*G%@H=*99X*3#:#)>#)(>*%U*)"#=$=>#*#%*#C=*&=$M:#%H%B)>#L*)"*!"#$%#&'$())*$)+$,#'-&.)/)01$&23$,#'-&.)/)045$67'0#'18$9::;L*
=&)#=&*J@*5C)=$>*G6L*0:"B*7+*d$;*7C)H:&=HTC):L*,H>=c)=$*9%>J@L*PYY^L*T*ZY;
@$'*$&) +) /%0&%/) E%7<7;) !S-:%+.G) 4%.$2/7 ,+.<%) E26%.) QS;SSSG;) +&/) '*%) %&'$.%) (3.- -'MJ=$*%U*7C@>)():"*V)>)#>
_%,+&25+) 52.'+,$':) <%&%.+,,:) $&#.%+(%( 6%:%/) 4243,+'$2&) @+() %F+5$&%/) 9:
+() +) 42@%.) 13&#'$2&) 21) +<%) @$'*$&) + 4*:($#$+&() E4.$5+.$,:) /%.5+'2,2<:) .%($- c359%.)21)4*:($#$+&)6$($'()12.)+)#2&/$-
9$.'*)#2*2.'7)\&'$,).%#%&')/%#+/%(;)%+#* /%&'(G;) (2) '*%) .%(3,'$&<) %('$5+'%() @%.% '$2&) $() 2&%) 4.+#'$#+,) 5%+(3.%) 21) $'() 1.%-
(3##%(($6%) 9$.'*) #2*2.') *+/) *$<*%.) .$(D &2')/%4%&/%&')2&)4+'$%&'(h)+9$,$':)2.)$&- A3%&#:) '*+') 5+:) .%]%#') $'() $&#$/%&#%;
'*+&) $'() 4.%/%#%((2.=) *%&#%;) '*%) #3.6%( #,$&+'$2&) '2) (%%D) 5%/$#+,) #+.%7) L&/%%/; 4.%6+,%&#%;) +&/) (%6%.$':;) +() @%,,) +() +#-
21)52.'+,$':)6%.(3()+<%)@%.%)(*$1'%/)34- 2&%) 21) '*%) 0&/$&<() 21) '*%) (3.6%:) @+( #%(() '2) *%+,'*) #+.%7) B+9,%) !-M) ,$('() 1.%-
@+./7)B*3()'*%)#.2((-(%#'$2&+,).%,+'$2&- '*+')&%+.,:)2&%-'*$./)21)'*2(%)%F+5$&%/ A3%&#$%() 21) /%.5+'2,2<$(') +&/) 2'*%.
(*$4)21)52.'+,$':)6%.(3()+<%)+&/)'*%)$&- *+/)2&%)2.)52.%)(D$&)#2&/$'$2&()H3/<%/ 4*:($#$+&) 23'4+'$%&') 6$($'() 12.) (25%) 21
#.%+(%) $&) 52.'+,$':) .$(D) /3.$&<) 52(') 21 '2)9%)($<&$0#+&')%&23<*)'2)5%.$')+)6$($' '*%) 52(') #2552&) (D$&) #2&/$'$2&(7) X
'*%) '@%&'$%'*) #%&'3.:) 12,,2@%/) +) #2- '2) +) 4*:($#$+&7) B*%) 52(') #2552&
*2.')4+''%.&7)82.)5+&:)#23&'.$%()$&)'*% #2&/$'$2&() +&/) '*%$.) +<%-) +&/) <%&/%.- !"#$%&'(*
4+(') (%6%.+,) /%#+/%() +) /%#,$&%) $&) 5%,+- (4%#$0#)4.%6+,%&#%()+.%)$&/$#+'%/)$&)B+- JA(K)=($>(%;<%!"#$%:;$.#*#;$'L-$#*(.%
&25+) 52.'+,$':) *+() 9%%&) 29(%.6%/) $& 9,%)!-J)+&/)8$<7)!-!7)X)($5$,+.)(3.6%:)$& !*)*(',%CDHCMCDHE)
:23&<%.)+<%)<.234()/%(4$'%)+&)$&#.%+(% '*%) \&$'%/) ^$&</25) 21) 26%.) QSSS) i2&-
QR45%
$&)2,/%.)+<%)<.234(;)(3<<%('$&<)+),2@%. /2&%.() $&) !RZU) &2'%/) '*+') +,52(') 2&%- N3O2 P2N3O2 !2S2!
9+(%,$&%) $&) '*%(%) 52.'+,$':-6%.(3(-+<% A3+.'%.) 21) +/3,'() *+/) +) (D$&) #2&/$'$2&
g 4=$M:#%A 8Z8 Z\ _8
#3.6%() 12.) .%#%&') #2*2.'() +&/) *%&#%) + (%.$23() %&23<*) '2) @+..+&') 5%/$#+,
TC@#%>)>
,$D%,:) 13'3.%) /%#,$&%) $&) 26%.+,,) 5%,+- #+.%7QU) ?'*%.) %112.'() *+6%) 12#3(%/) 2&
g /("=*Ic'HB:$)>* [\ ^^ [Y
&25+)52.'+,$':7 29'+$&$&<) 4.%6+,%&#%) %('$5+'%() 21) (4%-
:"&*(@>#)(R
#$0#)#2&/$'$2&()@$'*)(4%#$+,)(3.6%:(7QT;QZ
g 3=J%$$C=)(* ZY P^ P_
7$=c:H="(= &=$M:#)#)>
0)U=#)M=*.)>? g /#%T)(*&=$M:#)A PY 8_ 8]
72!=,'!31!).%1%.()'2)'*%)4.242.'$2&)21)'*% #)>a=(K=M:
4243,+'$2&) +11%#'%/) 9:) +) /$(2./%.7) a%- i$1%'$5%) .$(D() 12.) #%.'+$&) /$(2./%.() +.% g V=$$'(:* ] ^ _
#+3(%) 5+&:) (D$&) /$(%+(%() +.%) &2&,%'*+, A32'%/)#2552&,:;)+,'*23<*)'*%$.)6+,$/- c'HB:$)>
:%') #*.2&$#;) 4.%6+,%&#%) $() +) 4+.'$#3,+.,: $':)#+&)9%)A3%('$2&%/7)i$1%'$5%).$(D)#+& g 9:H)B":"#* ^ Q ^
$542.'+&')5%+(3.%)21)1.%A3%&#:)$&)/%.- 9%) 5%+(3.%/) 2&,:) $&) .%'.2(4%#';) +&/ #'M%$>
5+'2,2<:7) [243,+'$2&-9+(%/) /+'+) 2& %6%&)'*%&)$').%]%#'()#254%'$&<)#+3(%()21 g 7>%$):>)> ^ Q ^
4.%6+,%&#%) 21) (D$&) /$(%+(%) 12.) '*% 52.'+,$':) $&) +//$'$2&) '2) $&#$/%&#%7) L') $( g V)#)H)B% ^ \ Q
\&$'%/)"'+'%()@%.%)29'+$&%/)$&)'*%)0.(' #2552&,:)A32'%/)12.)/$(2./%.()(3#*)+( g 6=$T=>*>)MTH=N \ Q \
W%+,'*) +&/) c3'.$'$2&) >F+5$&+'$2&) "3.- #3'+&%23() 5+,$<&+&#$%() '*+') +.%) #*+&<-
:1:>=>*T=$*8YYY*T%T'H:#)%";
6%:;) @*$#*) @+() #2&/3#'%/) $&) '*%) %+.,: $&<)(39('+&'$+,,:)$&)$&#$/%&#%;):%')'*2(%
!RZS(7QM) `%(4$'%) $'() ,$5$'+'$2&(;) '*$( #*+&<%()+.%)1.%A3%&',:)$<&2.%/)$&)$'()#+,- E$%M*3?)"*(%"&)#)%">*:"&*$=H:#=&*"==&*U%$*M=&)(:H*
(:$=*:M%"B*T=$>%">*8h[\*@=:$>L*F")#=&*3#:#=>L*
('3/:) @+() &2'+9,%) 9%#+3(%) '*%) (+54,% #3,+'$2&;)+&/;)$&)+&:)#+(%;)4.2H%#'$2&()21 8][8h8][\;*<4.&/$=#&/."$6.&.*i88jL*"%*P8PL*F;3;*
@+() .%4.%(%&'+'$6%) 21) '*%) <%&%.+,) \7"7 13'3.%)#*+&<%()+.%)A3$'%)(4%#3,+'$6%)+&/ 4=T:$#M="#*%U*6=:H#CL*,&'(:#)%"L*:"&*<=HU:$=L*
< 4243,+'$2&;) '*%) &359%.) (3.6%:%/) @+( 5+:)9%)5$(,%+/$&<7Qb -%c=MJ=$*8][_;
!"" 5%+(3.%() '*+') 12#3() 2&) ($&<,%) +(4%#'() 21
0*/(-/(/)12)/(3-4(15/)'6-+7/ *%+,'*7)82.)%F+54,%;)(D$&)/$(%+(%()'*+')+.%
0(.8-91:;,91/(/ 6$($9,%)+&/)+11%#')+44%+.+&#%)5+:).%(3,')$&
#$" <581./ (2#$+,) ('$<5+) +&/) 522/) #*+&<%(;) @*$#*
=(31..;(*4)7(.8-9*9*/ @23,/)&2')9%)5%+(3.%/)@$'*)5%'.$#()'*+'
#"" +.%)9+(%/)2&)/:(13&#'$2&7JS
%$" 2#C=$*9=:>'$=>*%U*9%$J)&)#@X*
!>>'=>*)"*k':"#)`(:#)%"
%"" i$D%) +,,) +((+:(;) 5%+(3.%() 21) '*%) &2&1+'+,
#2&(%A3%&#%() 21) /$(%+(%() 53(') *+6%) #%.-
'+$&) #*+.+#'%.$('$#() 21) +##3.+#:7J!) 82.) %F-
$" +54,%;) '*%:) 53(') 9%) 2!'#,0'!) $&) '*+') '*%
6+.$+9$,$':) $&) .%(3,'()+52&<) (39H%#'() @*2
" '.3,:)/$11%.)(*23,/)9%)<.%+'%.)'*+&)'*%)6+.$-
%"))))))))))#")))))))))!"))))))))))>")))))))))$"))))))))))?")))))))))@" +9$,$':)@*%&)+)('+9,%)(39H%#')$()%F+5$&%/
&'()*+),(-./ .%4%+'%/,:7)B*%) 5%+(3.%() 53(') *+6%)%6$-
/%&#%)21)=,'#$#4);)@*$#*).%1%.()'2)'*%)%F'%&'
>?@AB&%CDC 7$=c:H="(=*$:#=>*U%$*#C=*U%'$*H=:&)"B*#@T=>*%U*>)B")`(:"#*>?)"*T:#C%H%B@*:M%"B*T=$>%"> '2)@*$#*)+&)$&('.35%&')5%+(3.%()@*+')$'
8*#%*[\*@=:$>L*J@*:B=L*)"*#C=*F")#=&*3#:#=>L*8][8h8][\; $() (3442(%/) '2) 5%+(3.%) +&/) /2%() &2'
5%+(3.%) (25%'*$&<) %,(%7) 8$&+,,:;) *%+,'*
23'#25%)5%+(3.%()+,(2)53(')/%52&('.+'%
1%+'3.%) 21) '*$() 5%+(3.%) 21) /$(%+(%) 1.%- 3(%)21)'*%)*+&/(G;)+#'$6$'$%()E.2,%)+')@2.DG;
2!-"&3-#=!3!--;)'*%)+9$,$':)'2)/%'%#')#,$&$#+,
A3%&#:)$()$'() /$.%#').%,+'$2&) '2)%F4%&/$- +&/) A3+,$':) 21) ,$1%7) _2.%26%.;) '*%) #*+,-
#*+&<%7) L&) <%&%.+,;) '*%) +##3.+#:) 21) 5%+-
'3.%()12.)#+.%)21)'*%)/$(%+(%7 ,%&<%() $&) 5%+(3.$&<) '*%(%) #254,%F) #2&-
(3.%() 21) /$(%+(%) ('+'3() +&/) 52.9$/$':) $&
('.3#'() +.%) 13.'*%.) #25423&/%/) 9%#+3(%
/%.5+'2,2<:)*+()&2')9%%&)%6+,3+'%/)+/%-
2#C=$*9=:>'$=>*%U*9%$J)&)#@X* 4%24,%) 3&/%.('+&/) +&/) 6+,3%) '*%(%) +(-
A3+'%,:7JQ)83.'*%.52.%;)%6%&)@*%&)+)6+,$-
1%"(=T#':H*!>>'=> 4%#'()21)*%+,'*)6%.:)/$11%.%&',:)9%#+3(%)21
/+'%/)$&('.35%&')%F$('(;)'*%)#,$&$#+,)($<&$0-
+<%;) <%&/%.;) #3,'3.+,) #2&#%4'$2&(;) 2.) +#-
#+&#%)21)(#2.%()2.)#*+&<%()$&)(#2.%()21'%&
B*%) #2&(%A3%&#%() 21) (D$&) /$(%+(%) 12.) + #%(()'2)*%+,'*)#+.%7)L&)1+#';)'*%)5%+(3.%-
#+&&2') 9%) H3/<%/) 3&'$,) '*%) '22,) $() 3(%/
4243,+'$2&)5+:)9%)/$10#3,')'2)/%'%.5$&% 5%&')21)&2&1+'+,)#2&(%A3%&#%()21)/$(%+(%
#254.%*%&($6%,:) 9%#+3(%) '*%(%) #2&/$- @$/%,:)+&/)(#2.%()+.%)+6+$,+9,%)12.)5+&:
$()'*%)(39H%#')21)53#*)$&'%.&+'$2&+,)(#$-
4+'$%&'() @$'*) /$(%+(%) 21) 6+.:$&<) (%6%.$':7
'$2&()52(')21'%&)/2)&2')+11%#')(3.6$6+,7QR %&'$0#) +&/) 42,$'$#+,) +''%&'$2&) E*''4NOO
8$&+,,:;) +) ($<&$0#+&') #*+,,%&<%) $() /%6%,24-
83.'*%.52.%;)'*%) 52(')$542.'+&') <+3<%( @@@J7@*27$&'O$#1O$#1'%54,+'%7#15;)+#-
21) (D$&) /$(%+(%) ('+'3() +&/) 4.2<.%(($2& $&<) +) #2&(%&(3() +52&<) /%.5+'2,2<$('(
#%((%/)P3,:)J;)QSSTG7
+923')'*%)(4%#$0#)#,$&$#+,)1%+'3.%()21)+&)$&-
E$7%7;) '*%) 4*:($#+,) %F+5$&+'$2&) +&/) 4+- X)#.3#$+,)42$&')12.)(D$&)/$(%+(%()$()'*+')+
/$6$/3+,) /$(%+(%) '*+') +.%) $542.'+&') '2) $&-
'$%&'(h) .%42.'(G) +.%) /$10#3,') '2) 5%+(3.% 4+'$%&'h()%F4%.$%&#%()21)%11%#'()21)(D$&)/$(-
+&/)#254$,%7)82.)%F+54,%;)+)4+'$%&')@$'* #,3/%)$&)(3#*)5%+(3.%(7)82.)%F+54,%;)#.$-
%+(%)2&)*$()2.)*%.)+#'$6$'$%()+&/)@%,,-9%$&<
'%.$+)12.)#,$&$#+,,:)$542.'+&')$54.26%5%&'
4(2.$+($()5+:)*+6%)'*$#D%&$&<)+&/)(#+,$&< +.%)$542.'+&')12.)/%'%.5$&$&<)'*%)26%.+,,
*+6%)9%%&)/%6%,24%/)12.)(25%).*%35+'2-
21) '*%) 4+,5() E+) 92/$,:) $54+$.5%&'G; #2&(%A3%&#%()21)'*+')/$(%+(%7)B*%(%)%F4%-
@*$#*)+11%#'()*$()2.)*%.)13&#'$2&$&<)E%7<7; ,2<$#) #2&/$'$2&(JJ) '*+';) ,$D%) (D$&) /$(%+(%(;
.$%&#%() 5+:) &2') 9%) +((%((%/) @$'*) <,29+,
+.%) #*.2&$#) +&/) +.%) 9%(') +((%((%/) 3($&<
#,$&$#+,).+'*%.)'*+&),+92.+'2.:)#.$'%.$+7
!"#$%&'(+
T#'#*'%*;%7;$UP(.(A)=%R<V>(UQ)'(.%J+W'#>#)$'%#$%*+(%-$#*(.%!*)*(',%/00X)
!MT:)$M="#
4YJ2%RP%J5Y!1:137
B*%)%F'%&')'2)@*$#*)+)(4%#$0#)(D$&)/$(-
&13Z7R!1! &2?N34RORZ1!4B R452? 3OO%J5Y!1:137! %+(%) /$(.34'() '*%) (D$&) $'(%,1) $() .%,+'%/
/("=*V'HB:$)> Z[[P*I8P;[lR ( \\YP*IY;QlR 92'*) '2) '*%) 4%.#%&'+<%) 21) 92/:) (3.1+#%
,(K=M:#%'>*&=$M:#)#)> P\QP*I_;PlR Q^[^*IY;[lR _8P_*IY;]lR +.%+) $&62,6%/) +&/) '2) 4*:($#+,) ($<&() 21
<:$#> 8\YY*I\;[lR 8Q^[*IY;PlR P]^[*IY;ZlR '*%)%.34'$2&;)(3#*)+()'*%)+523&')21)$&-
3?)"*(:"(=$ P8YZ*I[;8lR 8\Q]*IY;PlR ZQ^P*IY;\lR /3.+'$2&)+&/)'*%)/%<.%%)21)(#+,%7)j$6%&
7>%$):>)> 88YY*IZ;[lR ( 8P^_*IY;8lR '*%)4,%252.4*$(5)21)(D$&)%.34'$2&()+&/
E'"B:H*)"U=(#)%"> ( P8Y\*IY;PlR PQQQ*IY;ZlR ,%($2&(;) 52(') /%.5+'2,2<$#) (%6%.$':-21-
6:)$*&)>%$&=$> [[P*IP;^lR ( 8^]Y*IY;PlR /$(%+(%) 5%+(3.%() +.%) /$(%+(%-(4%#$0#7
/(#)")(*?=$:#%>)> P^QZ*I_;]lR ( ZYZ8*IY;ZlR X52&<)'*%)52(')('3/$%/)$&('.35%&'()'2
G=")B"*"=%TH:>M*%U*#C=*>?)" P[]8*I];\lR ( Z]ZQ*IY;\lR 5%+(3.%) #,$&$#+,) (%6%.$':) 21) /$(%+(%) +.%
/HH*&)>%$&=$> P]L_Y8*I8YYlR _[^LPPP*I8YYlR ]Y^LYPZ*I8YYlR '*%) [(2.$+($() X.%+) +&/) "%6%.$':) L&/%F
E[X"LGJM) +&/) '*%) "%6%.$':) "#2.$&<) 21
:,>#)M:#=>*)"*#C%'>:"&>;
X'24$#) `%.5+'$'$() E"C?YX`G) $&/%F7JU
J7=$(="#:B=*%U*#%#:H*c)>)#>*)>*)"*T:$="#C=>=>;
(E)B'$=*&%=>*"%#*M==#*>#:"&:$&*%U*T$=()>)%";
V$'*)'*%)[X"L;)(%6%.$':)21)/$(%+(%)$()+(-
/&:T#=&*b)#C*T=$M)>>)%"*U$%M*<=)">#%(?*9/L*G%@H=*99X*3#:#)>#)(>*%U*)"#=$=>#*#%*#C=*&=$M:#%H%B)>#L*)"*!"#$ (%((%/)9:)H3/<5%&')21)'*%)/%<.%%)21)$&-
%#&'$())*$)+$,#'-&.)/)01$&23$,#'-&.)/)045$67'0#'18$9::;L*=&)#=&*J@*5C)=$>*G6L*0:"B*7+*d$;*7C)H:&=HTC):L* 62,6%5%&') 21) 123.) 92/:) .%<$2&() @$'*
,H>=c)=$*9%>J@L*PYY^L*T*Z]; ($<&() 21) %.:'*%5+;) $&/3.+'$2&;) +&/) /%(- =
A3+5+'$2&7) B*%) "C?YX`) $&/%F) #25- +(($<&) +) &35%.$#+,) 6+,3%) E2.) 3'$,$':G) '2 2<:;)#,$&$#+,)%4$/%5$2,2<:;)+&/)'*%)A3+&-
9$&%() +&) +((%((5%&') 21) /$(%+(%) +.%+ *%+,'*)('+'%(7)B*$()6+,3%).%]%#'()4+'$%&'(h '$'+'$6%) (2#$+,) (#$%&#%() '2) ('3/:) +&/) $5-
@$'*) ($F) #,$&$#+,) ($<&() 21) /$(%+(%) $&'%&- 4.%1%.%&#%() 12.) '*%) *%+,'*) ('+'%(;) $& 4.26%) '*%) A3+,$':) 21) *%+,'*) #+.%7) 8.25
($':) E(#+,%() '2) 5%+(3.%) 4.3.$'3() +&/ @*$#*) !7S) .%4.%(%&'() 4%.1%#') *%+,'*) +&/ '*%) 4%.(4%#'$6%) 21) *%+,'*) (%.6$#%() .%-
(,%%4) ,2(() +,(2) #+&) 9%) $&#,3/%/G7) B*%(% S7S).%4.%(%&'()/%+'*7)\'$,$'$%()+.%)+/6+&- (%+.#*;)'*%)4.2#%((%()$&62,6%/)$&)'*%)4.2-
$&('.35%&'() (*+.%) #%.'+$&) 4.29,%5(=) 12. '+<%23()9%#+3(%)'*%:)4%.5$')'*%)$.42- 6$($2&)21)*%+,'*)#+.%;)+()@%,,)+()'*%)4+.-
%F+54,%;)%('$5+'%()21)92/:)(3.1+#%)+.%+ .+'$2&)21)4+'$%&')4.%1%.%&#%()$&'2)5%/$#+, '$#3,+.) '*%.+4%3'$#) $&'%.6%&'$2&() +&/
+.%) 21'%&) 3&.%,$+9,%;JT) +&/) $&6%('$<+'2.( #+.%) /%#$($2&(7) X,(2;) 9%#+3(%) '*%:) /%- 4+'$%&') +&/) 4.26$/%.) #*+.+#'%.$('$#(;) +.%
E+&/)4+'$%&'(G)5+:)&2')+<.%%)'*+')'*%)(%- (#.$9%)$54.26%5%&'()$&)52.9$/$':)@$'*)+ +,,)42'%&'$+,,:)$542.'+&')/%'%.5$&+&'()21
,%#'%/)#,$&$#+,)($<&().%4.%(%&')'*%)$542.- ($&<,%)@%$<*'%/)5%'.$#;)3'$,$'$%()+.%)3(%/ '*%)A3+,$':) 21) #+.%7) `%.5+'2,2<$#)*%+,'*
'+&')1%+'3.%()21)/$(%+(%)(%6%.$':7JZ 12.) '*%) %6+,3+'$2&) 21) #254,%F) '.+/%211( (%.6$#%() .%(%+.#*) $() ('$,,) &%@;) +&/) 53#*
(3#*) +() '*%) #+,#3,+'$2&) 21) #2('-%11%#'$6%- +''%&'$2&) *+() 12#3(%/) 2&) ('3/$%() 21) '*%
&%((;)$&)@*$#*)'*%)#2('()21)'.%+'5%&'()+.% %11%#'$6%&%(() 21) #+.%) E$7%7;) 23'#25%() 21
E'"(#)%")"B*:"&*k':H)#@*%U*0)U= #254+.%/) @$'*) '*%) 6+,3%() 21) '*%) *%+,'* *%+,'*)#+.%)+()$')$()3(3+,,:)4.+#'$#%/G7)B2
"39('+&'$+,)4.2<.%(()*+()9%%&)5+/%)$&)'*% ('+'%() '*%:) 5+D%) 42(($9,%7) \'$,$'$%() +.% $&12.5) ('+&/+./) #+.%;) *2@%6%.;) %10#+#:
/%6%,245%&') +&/) '%('$&<) 21) 4+'$%&'(h) .%- #2&'.26%.($+,;)*2@%6%.;)9%#+3(%)'*%:)#+& 21) $&'%.6%&'$2&() $() +,(2) $542.'+&') E$7%7;
42.'()21)'*%)%11%#'()21)'*%$.)(D$&)/$(%+(%()2& 9%) /$10#3,') '2) 5%+(3.%) +&/) #+&) 6+.: '*%).%(3,'()21)$&'%.6%&'$2&()$54,%5%&'%/
'*%$.) +#'$6$'$%() +&/) A3+,$':) 21) ,$1%7) "%6%.+, @$/%,:) +52&<) 4+'$%&'() $&) 3&4.%/$#'+9,% $&) '*%) $/%+,$K%/) #$.#35('+&#%() 21) +) .+&-
<%&%.$#) $&('.35%&'() +.%) +6+$,+9,%) '2) 5%+- @+:(7) X&) $&#.%+($&<) &359%.) 21) ('3/$%( /25$K%/) #,$&$#+,) '.$+,G7) _+&:) 21) '*%) %F-
(3.%) (D$&-.%,+'%/) A3+,$':) 21) ,$1%)+((2#$+'%/ %F$(') '*+') 12.5+,,:) 5%+(3.%) 3'$,$'$%() 21 +54,%()#$'%/)%+.,$%.)/%52&('.+'%)+)(*+.4-
@$'*)/%.5+'2,2<$#)/$(%+(%)21)+&:)(2.'7JbIM! 4+'$%&'()@$'*)(D$&)/$(%+(%(7MU %&%/) 12#3() $&) /%.5+'2,2<:) 2&) +##3.+'%
`+'+) #2&'$&3%) '2) 9%) +##353,+'%/) +923' 5%+(3.%5%&') 21) '*%) #,$&$#+,) %&'%.7
'*%)4%.12.5+&#%)21)'*%(%)$&('.35%&'()E$&- B*$()#+4+#$':)'2)5%+(3.%)'*%)4.2<.%(()21
1%>#> #*.2&$#) /$(%+(%() +&/) '*%$.) #+.%) @$,,) 4%.-
#,3/$&<) '*%) 3(%) 21) (24*$('$#+'%/) 4(:#*2-
5%'.$#)5%'*2/(MQ)+&/)'*%)$&'%.4.%'+'$2&)21 C2('()21)(D$&)/$(%+(%)/%4%&/)2&)'*%)4%.- 5$') .$<2.23() %112.'() '2) %6+,3+'%) +&/) $5-
'*%$.) (#2.%(7MJ) X&) $542.'+&') #2&#,3($2& (4%#'$6%)1.25)@*$#*)'*%:)+.%)5%+(3.%/; 4.26%)'*%)A3+,$':)21)'*+')#+.%7
1.25)'*%(%)('3/$%()$()'*+')#2..%,+'$2&()9%- 9%#+3(%)'*%)#2('()'2)$&(3.%.()+&/)4+'$%&'(
'@%%&)'*%)A3+,$':-21-,$1%)%11%#'()21)(D$&)/$(- 5+:) 9%) A3$'%) /$11%.%&') 1.25) '*%) 26%.+,,
W,D*.,E,.,-1,3
%+(%()+&/)'*%$.)#,$&$#+,)(%6%.$':)+()+((%((%/ #2(') '2) (2#$%':7) X,(2;) 9%#+3(%) 52(') (D$&
9:)4*:($#$+&()+.%)52/%(')+')9%(')+&/)5+: /$(%+(%()+.%)#*.2&$#)+&/)+.%)#+.%/)12.)$& 5C=*U'HH*$=U=$="(=*H)>#*U%$*:HH*(C:T#=$>*
$&) 1+#') 9%) A3$'%) ,2@7) B*$() 0&/$&<) $() +,(2 '*%)23'4+'$%&')(%''$&<;)%('$5+'$2&)21)92'* )>*:c:)H:JH=*:#*bbb;&)BM[;(%M;
':4$#+,)21)5+&:)&2&/%.5+'2,2<$#)/$(%+(%( '*%$.) 52&%'+.:) +&/) $&'+&<$9,%) #2('() $(
+&/) $54,$%() '*+') +) #254.%*%&($6%) +((%((- /$10#3,'7) X) .%#%&') ('3/:) %('$5+'%/) '*% !7 a+.K$,+$) `X) %') +,N) `%.5+'2%4$/%5$2,-
2<:7) B* C%* C1,$* ?!2%,4&' !"NUUR;) A3$K
5%&')21)4+'$%&'()@$'*)(D$&)/$(%+(%)(*23,/ 26%.+,,)/$.%#')+&/)$&/$.%#')#2(')'2)4+:%.(; UZM;)QSSU
$&#,3/%)5%+(3.%5%&')21)#,$&$#+,)(%6%.$':)+( 4+'$%&'(;) +&/) (2#$%':) 21) QQ) (D$&) /$(- Q7 V$,,$+5() WC;) "'.+#*+&) `[N) D6!* 56,'>
@%,,)+()$'()%11%#'()2&)A3+,$':)21),$1%7MM %+(%(7MT) L&) +//$'$2&;) #2('() 12.) $&/$6$/3+, '!3(!*&+*?!2%,4&!"#$!%#&'&()E)a2#+)Y+'2&;
(D$&)#2&/$'$2&()*+6%)9%%&)#+,#3,+'%/;)+&/ 8,2.$/+;)CYC)[.%((;)!RRZ
'*%.+4$%()*+6%)9%%&)%6+,3+'%/)$&).%,+'$2& J7 V%$&('2#D) _XN) ?!2%,4&!"#$!%#&'&()E
F#)H)#)=> [*$,+/%,4*$+;) V7a7) "+3&/%.() C254+&:;
'2)'*%$.)9%&%0'()+&/)%11%#'$6%&%((7MZ;Mb !RRU
X) 3'$,$':) $() +) &35%.$#) 5%+(3.%) 21) '*% MU7 C*%&)"C)%')+,N)X)#+'+,2<)21)/%.5+'2,2<:
6+,3%) +) 4+'$%&') 4,+#%() 2&) +) <$6%&) *%+,'* 3'$,$'$%(N) X) 5%+(3.%) 21) '*%) 93./%&) 21
('+'%)#254+.%/)@$'*)2'*%.)*%+,'*)('+'%(7 kF/0!5D*2E*1/.,* (D$&) /$(%+(%(7) B* A3=!-4#(* ?!2%,4&'* F)%"
L&)'*%)5%+(3.%5%&')21)3'$,$'$%(;)+)6+.$%': !-*4,.9/5202+D 72&1 #N!TS;)QSSM
MT7 a$#D%.() `Y) %') +,N) B*%) 93./%&) 21) (D$&
21)4.2#%/3.%()+.%)3(%/)E(3#*)+()6$(3+,)+&- W%+,'*) (%.6$#%() .%(%+.#*) 3(%() 5+&:) 21 /$(%+(%(N) QSSM7) B* C%* C1,$* ?!2%,4&'
+,2<)(#+,%()+&/)'$5%)'.+/%211)%F%.#$(%(G)'2 '*%) (#$%&'$0#) 5%'*2/() 1.25) %4$/%5$2,- !!NMRS;)QSST
8: 3@>#=M:#)(*$=c)=b*Ib)#C*C%M%B="=A 3@>#=M:#)(*$=c)=b*Ib)#C*C%M%B="=)#@R*%U*H=c=H*8*I>==*(%H'M"*PR*&):B"%>#)(*>#'&)=>L*%$*:*
)#@(R*%U*.15> 17+*c:H)&:#=&*%"*:*#=>#*>=#;
/ !"&)c)&':H*.15*Ib)#C*":$$%b*(%"`A !"&=T="&="#*JH)"&*(%MT:$)>%"*%U*:"*:TT$%T$):#=*>T=(#$'M*%U*(%">=('#)c=*T:#)="#>L*:HH*%U*
8J
&="(=*)"#=$c:H>R bC%M*C:c=*J=="*=c:H':#=&*J@*J%#C*#C=*&):B"%>#)(*#=>#*:"&*#C=*$=U=$="(=*>#:"&:$&;
8( /HH*%$*"%"=& V=$@*C)BC*>=">)#)c)#@*%$*>T=()`()#@
3@>#=M:#)(*$=c)=b*Ib)#C*C%M%B="=A 3@>#=M:#)(*$=c)=b*Ib)#C*C%M%B="=)#@R*%U*H=c=H*P*%$*J=##=$*I>==*(%H'M"*PR*&):B"%>#)(*>#'&)=>
P:
)#@R*%U*(%C%$#*>#'&)=>
!"&)c)&':H*(%C%$#*>#'&@*i)"(H'&)"B*H%bA !"&=T="&="#*JH)"&*(%MT:$)>%"*J'#*=)#C=$*)"*"%"A(%">=('#)c=*T:#)="#>*%$*(%"`"=&*#%*:*":$A
PJ S':H)#@*.15*I=;B;L*p*_Yl*U%HH%bA'TRj $%b*>T=(#$'M*%U*>#'&@*)"&)c)&':H>*I%$*J%#CRL*:HH*%U*bC%M*C:c=*J=="*=c:H':#=&*J@*J%#C*#C=*
G &):B"%>#)(*#=>#*:"&*#C=*$=U=$="(=*>#:"&:$&*%$*:*&):B"%>#)(*17+*"%#*c:H)&:#=&*)"*:*#=>#*>=#
P( m2'#(%M=>n*$=>=:$(C=
3@>#=M:#)(*$=c)=b*Ib)#C*C%M%B="=A 3@>#=M)(*$=c)=b*Ib)#C*C%M%B="=)#@R*%U*ZJ*I>==*(%H'M"*PR*:"&*J=##=$*>#'&)=>
Z:
)#@R*%U*(:>=A(%"#$%H*>#'&)=>
!"&)c)&':H*(:>=A(%"#$%H*>#'&@ !"&=T="&="#*JH)"&*(%MT:$)>%"*%U*:"*:TT$%T$):#=*>T=(#$'ML*J'#*#C=*$=U=$="(=*>#:"&:$&*
ZJ
b:>*"%#*:TTH)=&*#%*:HH*>#'&@*T:#)="#>
1:>=*>=$)=>*I:"&*T%%$AS':H)#@*(%C%$#* .=U=$="(=*>#:"&:$&*b:>*"%#*:TTH)=&*)"&=T="&="#H@*%$*"%#*:TTH)=&*JH)"&H@
1 \
:"&*(:>=A(%"#$%H*>#'&)=>R
4 Q ,NT=$#*%T)")%"*b)#C%'#*=NTH)()#*($)#)(:H*:TT$:)>:HL*%$*J:>=&*%"*TC@>)%H%B@L*J="(C*$=>=:$(CL*%$*H%B)(:H*&=&'(#)%"*
17+*f*(H)")(:H*T$:(#)(=*B')&=H)"=L*:*>@>#=M:#)(:HH@*&=c=H%T=&*>#:#=M="#*&=>)B"=&*#%*C=HT*T$:(#)#)%"=$>*:"&*T:#)="#>*M:?=*&=()>)%">*:J%'#*:TT$%T$):#=*C=:H#C*(:$=*U%$*
>T=()`(*(H)")(:H*()$('M>#:"(=>q*.15*f*$:"&%M)K=&*(%"#$%HH=&*#$):H;
:5C=>=*H=c=H>*b=$=*B="=$:#=&*)"*:*>=$)=>*%U*)#=$:#)%">*:M%"B*M=MJ=$>*%U*#C=*-63*.r4*1="#$=*U%$*,c)&="(=AG:>=&*9=&)()"=*I1C$)>*G:HHL*4:c=*3:(?=##L*G%J*7C)HH)T>L*
G$):"*6:@"=>L*:"&*3C:$%"*3#$:'>R;*E%$*&=#:)H>*>==*0=c=H>*%U*,c)&="(=*:"&*+$:&=>*%U*.=(%MM="&:#)%"L*C##TXaabbb;(=JM;"=#aH=c=H>s%Us=c)&="(=;:>TL*9:@*PYY8;
J.=(%MM="&:#)%">*J:>=&*%"*#C)>*:TT$%:(C*:TTH@*#%*m:c=$:B=n*T:#)="#>*:"&*M:@*"==&*#%*J=*M%&)`=&*)"*H)BC#*%U*:"*)"&)c)&':H*T:#)="#t>*'")S'=*J)%H%B@*I=;B;L*$)>?L*
$=>T%">)c="=>>R*:"&*T$=U=$="(=>*:J%'#*#C=*(:$=*C=*%$*>C=*$=(=)c=>;
(=)-)0#2#4.1*M=:">*H:(?)"B*c:$):#)%"*)"*#C=*&)$=(#)%"*:"&*M:B")#'&=*%U*$=>'H#>*%U*)"&)c)&':H*>#'&)=>;
&>//$)'$2)2#*M=:">*)"#=$c="#)%">*#C:#*T$%&'(=&*&$:M:#)(*)"($=:>=>*)"*>'$c)c:H*%$*%'#(%M=L*>'(C*:>*#C=*'>=*%U*>#$=T#%M@()"*#%*#$=:#*#'J=$('H:$*M=")"B)#)>;
=2'#(%M=>*$=>=:$(C*)"(H'&=>*(%>#AJ="=`#L*(%>#A=UU=(#)c="=>>L*:"&*(%>#A'#)H)#@*:":H@>)>;
<.+4*$#) '%(') E13&&%,) 4,2'G) 2.) 9:) (%6%.+, 1.%A3%&',:) 93') &2') 12.) .+.%) +/6%.(% &$'3/%) 21) '*%) %11%#'() 21) '.%+'5%&') #25-
2'*%.) ('+'$('$#+,) 5%'*2/(7gQM;QU) L&) +//$- %6%&'(7) C+(%) .%42.'() +.%) 21'%&) '*%) 0.(' 4+.%/) @$'*) .+&/25$K%/) #2&'.2,,%/) '.$+,(
'$2&;)12.)5+&:)/$(%+(%(;)'*%)('3/$%()439- ,$&%) 21) %6$/%&#%) .%<+./$&<) .+.%) +/6%.(% 2&)'*%)(+5%)'24$#7JJ;JM)>F+5$&$&<)'*%)/%-
,$(*%/)+.%)/25$&+'%/)9:)/.3<)#254+&:I %6%&'(;)+&/)(25%'$5%()'*%:)+.%)'*%)2&,: '+$,() 21) '*%) #2&'.26%.(:) ,%+/() '2) '*%) 12,-
(42&(2.%/)'.$+,()21)&%@;)%F4%&($6%)'.%+'- %6$/%&#%7) _%'*2/() 12.) +((%(($&<) '*% ,2@$&<) ,$5$'%/) #2&#,3($2&(7) B.$+,() 3($&<
5%&'(7) B*%) &%%/) 12.) ('3/$%() '2) +&(@%. A3+,$':) 21) %+#*) ':4%) 21) %6$/%&#%) +.% *$('2.$#+,) #2&'.2,() /2) :$%,/) ,+.<%.) %('$-
'*%)#,$&$#+,)A3%('$2&()21)52(')#2&#%.&)'2 +6+$,+9,%7!J;QT 5+'%() 21) '.%+'5%&') %11%#'() '*+&) /2) .+&-
4.+#'$'$2&%.() $() &2') +//.%((%/) 9%#+3(% V$'*).%<+./)'2)A3%('$2&()+923')'*%.+4: /25$K%/) #2&'.2,,%/) '.$+,(7) i+.<%;) $&#,3-
(23.#%()21)13&/$&<)+.%)$&+/%A3+'%7 +&/) 4.%6%&'$2&;) '*%) .+&/25$K%/) #2&- ($6%;)13,,:)9,$&/%/).+&/25$K%/)#2&'.2,,%/
c2')+,,)(:('%5+'$#).%6$%@()+&/)5%'+- '.2,,%/) #,$&$#+,) '.$+,) *+() 9%#25%) '*%) <2,/ '.$+,()+.%),$D%,:)'2)4.26$/%)'*%)9%(')42(($-
+&+,:(%()+.%)%A3+,7)X)(:('%5+'$#).%6$%@ ('+&/+./) 12.) /%'%.5$&$&<) '.%+'5%&') %10- 9,%)%6$/%&#%)+923')%11%#'$6%&%((7!Q;JU;JT
#+&)9%)2&,:)+()<22/)+()'*%)#,$&$#+,)'.$+,( #+#:7) B*23(+&/() 21) .+&/25$K%/) #2&- X,'*23<*) 4%.(2&+,) %F4%.$%&#%) $() +&
'*+') $') %þ+((%(7) B*%) #.$'%.$+) 12. '.2,,%/) '.$+,() *+6%) 9%%&) #2&/3#'%/7) "'3/- $&6+,3+9,%) 4+.') 21) 9%#25$&<) +) #254%-
#.$'$#+,,:) +44.+$($&<) (:('%5+'$#) .%6$%@( $%()*+6%)/%52&('.+'%/)'*+')1+$,3.%)'2)3(% '%&')4*:($#$+&;)'*%)4$'1+,,()21).%,:$&<)'22
+&/) 5%'+-+&+,:(%() +.%) (*2@&) $&) B+9,% .+&/25$K+'$2&) 2.) '2) 4.26$/%) +/%A3+'% *%+6$,:) 2&) 4%.(2&+,) %F4%.$%&#%) *+6%
Q-Q7)`%'+$,%/)%F4,+&+'$2&()21)%+#*)#.$'%- #2&#%+,5%&') 21) +,,2#+'$2&) .%(3,'%/) $& 9%%&) @$/%,:) /2#35%&'%/7Z;JZ;Jb) c$(9%''
.$2&)+.%)+6+$,+9,%7!J;QT ,+.<%.) %('$5+'%() 21) '.%+'5%&') %11%#'(; +&/)Y2(()%F'%&($6%,:).%6$%@%/)4%24,%h(
B*%)':4%)21)#,$&$#+,)('3/:)'*+')#2&('$- #+3(%/)4.%/25$&+&',:)9:)+) 422.%.) 4.2<- +9$,$':)'2)/.+@)$&1%.%&#%()1.25)4%.(2&+,
'3'%()9%(')%6$/%&#%)$()/%'%.5$&%/)9:)'*% &2($() $&) &2&I.+&/25,:) (%,%#'%/) #2&'.2, %F4%.$%&#%)+&/)/%(#.$9%)(%6%.+,)21)'*%(%
#+'%<2.:)21)A3%('$2&)9%$&<)+(D%/7)k3%(- <.234()'*+&)$&).+&/25,:)(%,%#'%/)#2&'.2, 4$'1+,,(7JR)B*%(%)$&#,3/%)'*%)12,,2@$&<N
'$2&() +923') '*%.+4:) +&/) 4.%6%&'$2&) +.% <.234(7JQ) W2@%6%.;) ('3/$%() #254+.$&<
9%(') +//.%((%/) 9:) .+&/25$K%/) #2&- .+&/25$K%/) +&/) &2&.+&/25$K%/) #,$&$#+, l ?6%.%54*+($() 2&) 6$6$/) +&%#/2'+,
'.2,,%/)'.$+,(7!J;QTIQb)k3%('$2&()+923')/$- '.$+,() 21) '*%) (+5%) $&'%.6%&'$2&() *+6% 2##3..%&#%() +&/) 3&/%.%54*+($() 2&
+<&2($() +.%) 9%(') +//.%((%/) 9:) #2*2.' .%+#*%/) /$(4+.+'%) +&/) #2&'.26%.($+,) .%- ($<&$0#+&')('+'$('$#+,,:)('.2&<)%6$/%&#%
('3/$%(7!J;QT;QR;JS) C2*2.') ('3/$%(;) #+(%- (3,'(7JQIJM)"25%)123&/)'*+')29(%.6+'$2&+, l a$+() $&) .%#2<&$K$&<;) .%5%59%.$&<;
#2&'.2,)('3/$%(;)+&/)42('-5+.D%'$&<)(3.- ('3/$%() .%42.'%/) ('.2&<%.) '.%+'5%&') %1- +&/) .%#+,,$&<) %6$/%&#%) '*+') (3442.'(
6%$,,+&#%)('3/$%()9%(') +//.%(() A3%('$2&( 1%#'()'*+&).+&/25$K%/)#2&'.2,,%/)'.$+,(7JQ 4.%-%F$('$&<) D&2@,%/<%) ('.3#'3.%(
+923') *+.57!J;QT;J!) Y+&/25$K%/) #2&- ?'*%.() 123&/) '*+') '*%) .%(3,'() 21) @%,,- E%7<7;) $/%+() +923') /$(%+(%) %'$2,2<:
'.2,,%/) '.$+,() +.%) +) <22/) (23.#%) 21) %6$- /%($<&%/) 29(%.6+'$2&+,) ('3/$%() E@$'*) %$- +&/)4+'*2<%&%($(G)+&/)4+.+,,%,)1+$,3.%
/%&#%)+923')'*%)*+.513,)%11%#'()21)$&'%.- '*%.)+)#2*2.')2.)+)#+(%-#2&'.2,)/%($<&G)/2 '2) .%#2<&$K%;) .%5%59%.;) +&/) .%#+,,
CI 6%&'$2&() 12.) +/6%.(%) %6%&'() '*+') 2##3. &2')(:('%5+'$#+,,:)26%.%('$5+'%)'*%)5+<- %6$/%&#%)'*+')$()52.%)6+,$/
5%&'() @$'*) +) 4+.'$#3,+.) +<%&') 2.) '.%+'- +'$#+,,:) #2,,%#'%/) 29(%.6+'$2&(7) B*%.%-
!"#$%&)()
5%&'() 21) +) 4+.'$#3,+.) /$(%+(%=) +&/) %6%& 12.%;)@%)*+6%)5+&:)24'$2&()12.)'.%+'$&<
1$)#)(:H*/TT$:)>:H*%U*:*3@>#=M:#)(*.=c)=b
1%@%.) +#'3+,,:) #+..:) 23') +&+,:(%(7) 8%@ 4+'$%&'()@$'*)(%6%.%)4(2.$+($()E%7<7;)3,'.+-
g /$=*#C=*$=>'H#>*%U*#C)>*>@>#=M:#)(*$=c)=b* 4*:($#$+&()5+D%)4.26$($2&()12.)'.+#D$&< 6$2,%')a).+/$+'$2&;)&+..2@-9+&/)3,'.+6$2-
c:H)&o '*2(%) 4+'$%&'() @*2) +.%) ,2(') '2) 12,,2@- ,%') a) .+/$+'$2&;) j2%#D%.5+&) '.%+'5%&';
g 4)&*#C=*$=c)=b*:&&$=>>*:*U%('>=&*(H)")(:H* 347)B*%.%12.%;)('+'%5%&'()5+/%)+923')+ 4(2.+,%&) 4,3() 3,'.+6$2,%') X) .+/$+'$2&;
S'=>#)%"o: 4*:($#$+&h()f#,$&$#+,)%F4%.$%&#%g)5+:)9% 5%'*2'.%F+'%;) #:#,2(42.$&;) +&/) '*%) 9$2-
g <=$=*#C=*($)#=$):*'>=&*#%*>=H=(#*:$#)(H=>* 9$+(%/7) 8$&+,,:;) 12.) 5+&:) #2&/$'$2&(;) + ,2<$#(G) +&/) 5$,/) '2) 52/%.+'%) 4(2.$+($(
U%$*)"(H'>)%"*:TT$%T$):#=o: ($&<,%) 4*:($#$+&) (%%() 1+.) '22) 1%@) 4+- E%7<7;) +&'*.+,$&;) '24$#+,) #2.'$#2('%.2$/(;
g !>*)#*'"H)?=H@*#C:#*)MT%$#:"#*$=H=c:"#*>#'&A '$%&'() @$'*) '*%) <$6%&) /$(2./%.) '2) +,,2@ #+,#$42'.$%&%;)+&/)'+K+.2'%&%G)E(%%)C*+47
)=>*b=$=*M)>>=&oJ .%+(2&+9,:) 0.5) #2&#,3($2&() '2) 9% !bG7) W2@%6%.;) @%) ,+#D) +) #,%+.) (%&(%) 21
g <:>*#C=*c:H)&)#@*%U*#C=*)"(H'&=&*>#'&)=>* /.+@&) +923') '*%) .%(42&(%) '2) '.%+'- @*$#*)$()9%(';)$&)@*+')2./%.)'*%:)(*23,/
:TT$:)>=&oJ 5%&'(7) 82.) %F+54,%;) (3442(%) '*+') + 9%) 3(%/;) +&/) $&) @*+') #259$&+'$2&(7!S;MS
g <=$=*:>>=>>M="#>*%U*>#'&)=>* 4*:($#$+&) *+() '.%+'%/) QS) 4+'$%&'() @$'* B.%+'5%&'() 9+(%/) 2&) ,2<$#+,) /%/3#'$2&
$=T$%&'()JH=oJ ,$#*%&) 4,+&3()3($&<)'.%'$&2$&) +&/) 123&/ 1.25) 4+'*24*:($2,2<:) 5+:) *+6% 3&%F-
g <=$=*#C=*$=>'H#>*>)M)H:$*U$%M*>#'&@*#%* '*+')!Q)ETS)4%.#%&'G)*+/)+&)%F#%,,%&').%- 4%#'%/) #2&(%A3%&#%(7) 82.) %F+54,%;) '*%
>#'&@oJ (42&(%7)B*%)#2&0/%&#%)$&'%.6+,)12.)'*$( 29(%.6+'$2&) '*+') +&'$+..*:'*5$#) /.3<(
g /$=*#C=*c:H)&*$=>'H#>*%U*#C)>*>@>#=M:#)(* .%(42&(%).+'%)E$7%7;)'*%)'.3%).%(42&(%).+'% #23,/) 4.%6%&') +9&2.5+,) 6%&'.$#3,+.) /%-
$=c)=b*)MT%$#:"#o 12.) '*$() '.%+'5%&') $&) '*%) ,+.<%.) 4243,+- 42,+.$K+'$2&) +1'%.) 5:2#+./$+,) $&1+.#'$2&
g <C:#*:$=*#C=*%c=$:HH*$=>'H#>*%U*#C=*$=c)=bo '$2&)1.25)@*$#*)'*$()4*:($#$+&h()(+54,% ,2<$#+,,:),%/)'2)'*%$.)3(%)'2)4.%6%&')(3/-
g 6%b*T$=()>=*b=$=*#C=*$=>'H#>o @+()29'+$&%/G).+&<%()1.25)JT)4%.#%&')'2 /%&) /%+'*) +1'%.) 5:2#+./$+,) $&1+.#'$2&7
g 1:"*@%'*:TTH@*#C)>*c:H)&L*)MT%$#:"#*=c)A b!)4%.#%&'7)B*3()'*%)'.3%).%(42&(%).+'% W2@%6%.;)+).+&/25$K%/)#2&'.2,,%/)#,$&-
&="(=*)"*(:$)"B*U%$*@%'$*T:#)="#o 5$<*') @%,,) 9%) (39('+&'$+,,:) ,%(() E2. $#+,) '.$+,) (*2@%/) $&#.%+(%/) 52.'+,$':
g 1:"*#C=*$=>'H#>*J=*:TTH)=&*#%*@%'$* 52.%G) '*+&) '*%) 4*:($#$+&) #2&#,3/%( +52&<) 4+'$%&'() '.%+'%/) @$'*) +&'$+.-
T:#)="#t>*(:$=o 1.25)4%.(2&+,)%F4%.$%&#%7 .*:'*5$#)/.3<()'*+&)+52&<)'*2(%)<$6%&
g <=$=*:HH*(H)")(:HH@*)MT%$#:"#*%'#(%M=>* >F4%.') 24$&$2&) #+&) 9%) 6+,3+9,%;) 4+.- +)4,+#%927Qb;M!;MQ
(%">)&=$=&o '$#3,+.,:)@*%&)'*%)/$(2./%.)$()+).+.%)#2&- B%F'922D() #+&) 9%) 6+,3+9,%) (23.#%() 21
g /$=*#C=*J="=`#>*b%$#C*#C=*C:$M>*:"&* /$'$2&)$&)@*$#*)'*%)%F4%.')*+()'*%)52(' %6$/%&#%;)4+.'$#3,+.,:)12.).+.%)#2&/$'$2&(
(%>#>o %F4%.$%&#%)2.)@*%&)2'*%.)12.5()21)%6$- +&/) 12.) #2&/$'$2&() 12.) @*$#*) '*%) %6$-
/%&#%) +.%) &2') +6+$,+9,%7) W2@%6%.;) (%6- /%&#%)/2%()&2')#*+&<%).+4$/,:)26%.)'$5%7
:7$)M:$@*B')&=>;
J3=(%"&:$@*B')&=>;
%.+,)('3/$%()*+6%)/%52&('.+'%/)'*+')%F- W2@%6%.;) '%F'922D() *+6%) (%6%.+,) @%,,-
E$%M*3:(?=##*4*=#*:HX*?@43#25#A(&B#3$C#34542#D$ 4%.') 24$&$2&) 21'%&) ,+<() ($<&$0#+&',: /2#35%&'%/),$5$'+'$2&(7)B*%:)'%&/)'2).%-
=)E$.)$F'&5.45#$&23$!#&5"$?(C;*,&)"J'$BCL* 9%*$&/) #2&#,3($6%) %6$/%&#%7Z) >F4%.'( ]%#') '*%) 9$+(%() +&/) (*2.'#25$&<() 21)'*%
1C'$(C)HH*0)c)"B>#%"=L*8]]^;* (311%.) 1.25) .%,:$&<) 2&) 9%&#*) .%(%+.#*; %F4%.'()@*2)@.$'%)'*%57)a%#+3(%)21)'*%
4+'*24*:($2,2<:;) +&/) '.%+'5%&'() 9+(%/ @+:)'*%:)+.%)@.$''%&;)4.2/3#%/;)+&/)/$(-
l 8+$,3.%)'2)+##3.+'%,:)#*+.+#'%.$K%)424- 2&),2<$#+,)/%/3#'$2&)1.25)4+'*24*:($2,- '.$93'%/;)52(')+.%)+44.2F$5+'%,:)Q):%+.(
3,+'$2&) /+'+) 9%#+3(%) 21) $<&2.+&#%) 21 2<:) +() @%,,) +() 1.25) '*%) (+5%) 4$'1+,,( 23') 21) /+'%) +') '*%) '$5%) 21) 439,$#+'$2&7
('+'$('$#+,) 4.$&#$4,%(;) $&#,3/$&<) (+5- &2'%/) 12.) .%,$+&#%) 2&) 4%.(2&+,) %F4%.$- _2(')'%F'922D)#*+4'%.()+.%)&+..+'$6%).%-
4,%) ($K%;) (+54,%) (%,%#'$2&) 9$+(;) +&/ %&#%7) >F4%.'() (*23,/) 9%) +@+.%) 21) '*% 6$%@()'*+')/2)&2')#2&($/%.)'*%)A3+,$':)21
.%<.%(($2&)'2)'*%)5%+& A3+,$':)21)'*%)%6$/%&#%)'*+')%F$('(7 '*%)%6$/%&#%).%42.'%/7Z;!J
l L&+9$,$':) '2) /%'%#') +&/) /$('$&<3$(* L')$()@$/%,:)9%,$%6%/)'*+')#,$&$#+,)/%#$-
('+'$('$#+,)+((2#$+'$2&)+&/)#+3(+,$': ($2&()#+&)9%)5+/%)2&)'*%)9+($()21)+&)3&-
l [%.($('%&#%)21)9%,$%1()$&)(4$'%)21)26%.- /%.('+&/$&<) 21) '*%) %'$2,2<:) +&/) 4+'*2- E!-4!-+*56,*G,35*,V!4,-1,
@*%,5$&<)#2&'.+.:)%6$/%&#% 4*:($2,2<:)21)/$(%+(%)+&/),2<$#7!;!S)B*$( B*%) +9$,$':) '2) 0&/)'*%) 9%(') %6$/%&#%) '2
4+.+/$<5) $() 4.29,%5+'$#) 9%#+3(%) '*% +&(@%.) #,$&$#+,) A3%('$2&() $() #.3#$+,) 12.
c$(9%'') +&/) Y2(() 4.26$/%) %F+54,%( +##%4'%/) *:42'*%($() .%<+./$&<) '*%) %'$- '*%) 4.+#'$#%) 21) >a_7) 8$&/$&<) %6$/%&#%
1.25)#2&'.2,,%/)#,$&$#+,).%(%+.#*7)"$54,% 2,2<:) +&/) 4+'*2<%&%($() 21) /$(%+(% .%A3$.%() +##%(() '2) %,%#'.2&$#) (%+.#*
#,$&$#+,) %F+54,%() +923&/7) [*:($#$+&( #*+&<%() 26%.) '$5%7) B*%.%12.%;) '*%) ,2<$- '22,(;)(%+.#*$&<)(D$,,(;)+&/)+6+$,+9$,$':)21
5+:) .%5%59%.) 4+'$%&'() @*2(%) #2&/$- #+,,:) /%/3#%/) '.%+'5%&'() #*+&<%) 26%. .%,%6+&')/+'+7)>6$/%&#%)+923')'*%.+4:)$(
'$2&) $54.26%/;) 21'%&) +((35%) '*+') 4+- '$5%7) 82.) %F+54,%;) $&) '*%) ,+(') QS) :%+.(; '*%) %+($%(') '2) 0&/7) B*%) 52(') 3(%13,
'$%&'()@*2)/$/)&2').%'3.&)12.)12,,2@-34 *:42'*%(%()+923')'*%)#+3(%)21)4(2.$+($( (23.#%() 12.) ,2#+'$&<) '*%) 9%(') %6$/%&#%
<2') 9%''%.;) +&/) #2&6%&$%&',:) 12.<%') '*% *+6%) (*$1'%/) 1.25) +) /$(2./%.) 21) D%.+'$- +923')'.%+'5%&')$&#,3/%)'*%)12,,2@$&<N
4+'$%&'() @*2(%) #2&/$'$2&) /$/) &2') $5- &2#:'%)4.2,$1%.+'$2&)+&/)*25%2('+($(;)'2
4.26%7) X) 4+'$%&') '.%+'%/) @$'*) +) <$6%& +9&2.5+,) ($<&+,$&<) 21) #:#,$#) +/%&2($&% l B*%)C2#*.+&%)i$9.+.:
5%/$#+'$2&) 5+:) /%6%,24) +) (%6%.%) ,$1%- 52&24*2(4*+'%;) '2) +9%..+&') +.+#*$- l B*%) _>`iLc>) E_%/$#+,) i$'%.+'3.%
'*.%+'%&$&<) .%+#'$2&7) ?&) '*%) 9+($() 21 /2&$#) +#$/) 5%'+92,$(5;) '2) +9%..+&') 6$- X&+,:($() +&/) Y%'.$%6+,) ":('%5) ?&-
'*$() ($&<,%) 3&/%($.+9,%) %F4%.$%&#%;) '*% '+5$&) `) 5%'+92,$(5;) '2) '*%) #3..%&' i$&%G) +&/) >_aX">) E;.!2"4,* I!$#1,
4*:($#$+&)5+:)+62$/)3($&<)'*+')5%/$#+- 1+62.$'%;) B-#%,,I5%/$+'%/) +3'2$553&% ?,4,0,-!G)/+'+9+(%(
'$2&) 12.) 5+&:)13'3.%) 4+'$%&'(;) +,'*23<* /$(%+(%7) >+#*) 21) '*%(%) *:42'*%(%( l [.$5+.:)H23.&+,(
2&) +6%.+<%) $') 5+:) 9%) 52.%) %10#+#$23( (4+@&%/) ,2<$#+,,:) /%/3#%/) '.%+'5%&'(7 l "%#2&/+.:)H23.&+,(
+&/),%(()'2F$#)'*+&)'*%)+,'%.&+'$6%)'.%+'- B*%) %10#+#:) 21) 5+&:) 21) '*%(%) '.%+'- l >6$/%&#%-9+(%/) /%.5+'2,2<:) +&/
5%&'() '*+') '*%) 4*:($#$+&) #*22(%(7) 8%@ 5%&'() *+() 9%%&) (39('+&'$+'%/) 9:) .$<2.- >a_)922D(
4*:($#$+&()D%%4)+/%A3+'%;)%+($,:).%'.$%6- 23() #2&'.2,,%/) #,$&$#+,) '.$+,(;) 93') 2'*%.( l B*%) c+'$2&+,) j3$/%,$&%) C,%+.$&<-
+9,%) .%#2./() '2) #2/$1:) .%(3,'() 21) '.%+'- +.%)3(%/)%6%&)$&)'*%)+9(%&#%)21)(:('%5- *23(%)E*''4NOO@@@7<3$/%,$&%7<26OG
CC
l B*%)c+'$2&+,)L&('$'3'%)12.)W%+,'*)+&/ $&)'*%)\&$'%/)"'+'%(7)L')(*23,/)9%)+6+$,- 52.%) 34) '2) /+'%7!J) B*%) 26%.,+4) $&) H23.-
C,$&$#+,)>F#%,,%&#%)E*''4NOO@@@7&$#%7 +9,%)+'):23.)5%/$#+,),$9.+.:7 &+,()#26%.%/)9:)_>`iLc>)+&/)>_aX">
2.<73DG B*%)(%#2&/)9%(')5%'*2/)12.)0&/$&<)%6- $() +44.2F$5+'%,:) JM) 4%.#%&') E.+&<%;) !S
$/%&#%)+923')'.%+'5%&')+&/)'*%)52(')3(%- 4%.#%&')'2) ZU) 4%.#%&') /%4%&/$&<) 2&)'*%
B*%) C2#*.+&%) i$9.+.:) #2&'+$&() '*% 13,)(23.#%)12.)0&/$&<)52(')2'*%.)':4%()21 (39H%#'G7U!;UQ
C2#*.+&%)`+'+9+(%)21)":('%5+'$#)Y%- 9%(')%6$/%&#%)$&)/%.5+'2,2<:)$()(%+.#*$&< >_aX">) $() +6+$,+9,%) 2&-,$&%) '*.23<*
6$%@(;)'*%)`+'+9+(%)21)X9('.+#'()21)Y%- '*%)_>`iLc>)/+'+9+(%)9:)#2543'%.7MM;MU '*%)5+H2.)/+'+9+(%)6%&/2.()d%7<7;)`+'+-
6$%@()21)>11%#'$6%&%((;)'*%)C2#*.+&% _>`iLc>) $() '*%) c+'$2&+,) i$9.+.:) 21 "'+.;)`$+,2<;)`L_`L)E`%3'(#*%&)L&('$'3'
C%&'.+,)Y%<$('%.)21)C2&'.2,,%/)B.$+,(; _%/$#$&%h() 9$9,$2<.+4*$#) /+'+9+(%) #26%.- 1n.)_%/$K$&$(#*%)`2D35%&'+'$2&)3&/
+&/)'*%)W%+,'*)B%#*&2,2<:)X((%((5%&' $&<) '*%) 0%,/() 21) 5%/$#$&%;) &3.($&<;) /%&- L&12.5+'$2&G;)?6$/)?&,$&%;)+&/)"Bce7
`+'+9+(%;)+52&<)2'*%.)/+'+9+(%()E*''4NOO '$('.:;) 6%'%.$&+.:) 5%/$#$&%;) '*%) *%+,'* 82.)52.%)$&12.5+'$2&;)(%%)*''4NOO@@@7
@@@J7$&'%.(#$%&#%7@$,%:7#25O#<$-9$&O #+.%)(:('%5;)+&/)'*%)4.%-#,$&$#+,)(#$%&#%(7 %,(%6$%.7#25O@4(O0&/O9$9,$2<.+4*$#/+-
5.@*25%O!STUTbZUJOW?_>G7)m2,3&- B*%)_>`iLc>)/+'+9+(%) #2&'+$&()9$9,$2- '+9+(%/%(#.$4'$2&7#@(o*25%OUQJJQbO
'%%.()@.$'%)'*%)(:('%5+'$#).%6$%@()$&)'*% <.+4*$#) #$'+'$2&() +&/) +3'*2.) +9('.+#'( /%(#.$4'$2&p/%(#.$4'$2&7)[%.(2&+,)+&/)$&-
C2#*.+&%)i$9.+.:)+##2./$&<)'2)('.$#' 1.25) +44.2F$5+'%,:) USSS) #3..%&') 9$2- ('$'3'$2&+,)(39(#.$4'$2&()+.%)+6+$,+9,%7
<3$/%,$&%()/%6%,24%/)9:)'*%)C2#*.+&% 5%/$#+,)H23.&+,()439,$(*%/)$&)'*%)\&$'%/ "'.3#'3.%/)+9('.+#'()21)+.'$#,%()+.%)439-
C2,,+92.+'$2&7)L((3%)!;)QSSZ;)21)'*%)C2- "'+'%()+&/)bS)12.%$<&)#23&'.$%(7)B*%)/+'+- ,$(*%/)$&)(%#2&/+.:)H23.&+,()E%7<7;)'*%)>6$-
#*.+&%)i$9.+.:)#2&'+$&%/)MTUU)#25- 9+(%) #2&'+$&() +44.2F$5+'%,:) !U) 5$,,$2& /%&#%-a+(%/)`%.5+'2,2<:)(%#'$2&)21)C2>
4,%'%/)(:('%5+'$#).%6$%@(7)B*%)&359%. .%#2./()/+'$&<)9+#D)'2)'*%)5$/-!RUS(7MT 16#=!-* &+* ?!2%,4&'&()G7) B*%) +.'$#,%() +.%
21).%6$%@()21)/%.5+'2,2<$#)'24$#()$( _>`iLc>) (%+.#*%() *+6%) $&*%.%&' ('.$#',:)(%,%#'%/)2&)'*%)9+($()21)5%'*2/-
('%+/$,:)$&#.%+($&<7 ,$5$'+'$2&() '*+') 5+D%) '*%$.) .%,$+9$,$': 2,2<$#) A3+,$':) +&/) +.%) +##254+&$%/) 9:
B*%) `+'+9+(%) 21) X9('.+#'() 21) Y%- ,%(() '*+&) $/%+,7MU ) "4%#$0#) (%+.#* #255%&'+.:) 43''$&<) '*%) $&12.5+'$2&) $&
6$%@() 21) >11%#'$6%&%(() #2&'+$&() +9- ('.+'%<$%(;) 2.) 0,'%.(;) *+6%) 9%%&) /%6%,- #,$&$#+,) 4%.(4%#'$6%7) ;=#$!31!>H,-!$* ?!2>
('.+#'() 21) (:('%5+'$#) .%6$%@() 439,$(*%/ 24%/) '2) +$/) $&) 0&/$&<) .%,%6+&') .%1%.- %,4&'&()) EV$,,$+5() W) %') +,7;) %/$'2.(;) ?F-
$&)'*%)5%/$#+,),$'%.+'3.%7)L')4.26$/%()+9- %&#%() +&/) %F#,3/$&<) $..%,%6+&') .%1%.- 12./;)a,+#D@%,,)[39,$(*$&<)i'/7;)QSSQG)$()+
('.+#'()+&/)9$9,$2<.+4*$#)/%'+$,()2&)URJ! %&#%()'2),2#+'%)'*%)9%(')%6$/%&#%)+923' #254%&/$35) 21) f5$&$g) (:('%5+'$#) .%-
439,$(*%/) (:('%5+'$#) .%6$%@(7) B*%) `+- /$+<&2($(;)'*%.+4:;)4.2<&2($(;)*+.5;)+&/ 6$%@() 21) '*%) '.%+'5%&') 21) (D$&) /$(%+(%(7
'+9+(%)21)X9('.+#'()21)Y%6$%@()21)>11%#- 4.%6%&'$2&7Mb 5'#3#1,'*;=#$!31!)$()+)#254%&/$35)21)%6$-
'$6%&%(()$()'*%)2&,:)/+'+9+(%)'2)#2&'+$& B*%(%) 0,'%.() *+6%) 9%%&) $.42.+'%/ /%&#%)2&) '*%) %11%#'() 21)#2552&) #,$&$#+,
+9('.+#'() 21) (:('%5+'$#) .%6$%@() '*+' $&'2)'*%)[39_%/)C,$&$#+,)k3%.$%()(%+.#* $&'%.6%&'$2&() '*+') $() 34/+'%/) %6%.:) T
*+6%)9%%&)+((%((%/)12.)A3+,$':7)>+#*)+9- %&<$&%) 21) '*%) c+'$2&+,) i$9.+.:) 21 52&'*(7)L')$()+6+$,+9,%)'*.23<*)'*%)X5%.-
('.+#')$&#,3/%()+)(355+.:)21)'*%).%6$%@ _%/$#$&%) +&/) +.%) +6+$,+9,%) +') *''4NOO $#+&)C2,,%<%)21)[*:($#$+&()+&/)'*%)a.$'$(*
'2<%'*%.) @$'*) +) #.$'$#+,) #255%&'+.: @@@7	$7&,57&$*7<26O%&'.%KOA3%.:O _%/$#+,)X((2#$+'$2&7
+923') '*%) 26%.+,,) A3+,$':7) B*%) W%+,'* ('+'$#O#,$&$#+,7(*'5,7MR 83,,-'%F') 6%.($2&() 21) 5+&:) 4.$5+.:
B%#*&2,2<:) X((%((5%&') `+'+9+(%) #2&- B*%) 3(%) 21) [39_%/) C,$&$#+,) k3%.$%( H23.&+,() +.%) &2@) +6+$,+9,%) 2&) '*%) L&'%.-
($('() 21) #254,%'%/) +&/) 2&<2$&<) *%+,'* E*''4NOO@@@7	$7&,57&$*7<26O%&'.%KO &%'7) X6+$,+9,%) 6%&/2.() $&#,3/%) `+'+"'+.;
'%#*&2,2<:) +((%((5%&'() E('3/$%() 21) '*% A3%.:O('+'$#O#,$&$#+,7(*'5,G)$()'*%)4.%1%..%/ `$+,2<;) `L_`L;) ?6$/) ?&,$&%;) +&/) "Bc;
5%/$#+,;) (2#$+,;) %'*$#+,;) +&/) %#2&25$# 5%'*2/)12.)(%+.#*$&<)'*%)_>`iLc>)/+'+- +52&<) 2'*%.(7) B*%) c+'$2&+,) j3$/%,$&%
$54,$#+'$2&() 21) *%+,'*) #+.%) $&'%.6%&- 9+(%) '2) ,2#+'%) '*%) 9%(') #,$&$#+,,:) .%,%6+&' C,%+.$&<*23(%) 5+$&'+$&() +) /+'+9+(%) 21
'$2&(G) 1.25) +.23&/) '*%) @2.,/7) B*%) +$5 %6$/%&#%7)L')#+&)9%)3(%/)1.%%,:)9:)+&:2&% <3$/%,$&%() 12.) '*%) '.%+'5%&') 21) /$(%+(%
21)'*%)/+'+9+(%)$()'2)$54.26%)'*%)A3+,$': @$'*)L&'%.&%')+##%((7 @.$''%&) 9:) 4+&%,() 21) %F4%.'() 12,,2@$&<
+&/)#2(')%11%#'$6%&%(()21)*%+,'*)#+.%7 _2.%) '*+&) QS) 6%&/2.() 4.26$/% ('.$#')#.$'%.$+)12.) %6$/%&#%7) B*%)/+'+9+(%
B*%) C2#*.+&%) i$9.+.:) $() '*%) 9%(' _>`iLc>)(:('%5() 2&-,$&%) +&/) 2&) C`- $()+##%(($9,%)'*.23<*)'*%)L&'%.&%')E*''4NOO
(23.#%) 12.) %6$/%&#%) +923') '.%+'5%&'7) L' Y?_7)W+:&%()%')+,7US)#254+.%/)(%6%.+, @@@7<3$/%,$&%(7<26G7) C3..%&') #26%.+<%
#+&) 9%) %+($,:) (%+.#*%/) 3($&<) ($54,% 6%&/2.() 21) _>`iLc>) 2&-,$&%) +&/) 2& 21)/%.5+'2,2<$#)'24$#()$(),$5$'%/7
a22,%+&) #259$&+'$2&() 21) (%+.#*) '%.5( C`-Y?_) '2) /%'%.5$&%) @*$#*) (:('%5 B*%)c+'$2&+,)L&('$'3'%)12.)W%+,'*)+&/
+() @%,,) +() 52.%) (24*$('$#+'%/) (%+.#* @+() 9%(') $&) '%.5() 21) ,2#+'$&<) .%,%6+&' C,$&$#+,) >F#%,,%&#%) 4.2/3#%() <3$/+&#%
('.+'%<$%(7) B*%) C2#*.+&%) `+'+9+(%) 21 +.'$#,%()+&/)%F#,3/$&<)$..%,%6+&')+.'$#,%(7 2&) 439,$#) *%+,'*;) *%+,'*) '%#*&2,2<$%(;
":('%5+'$#) Y%6$%@(;) `+'+9+(%) 21) X9- X()+((%((%/)1.25)#259$&%/).+&D$&<()12. +&/) #,$&$#+,) 4.+#'$#%) 9+(%/) 2&) '*%) 9%('
('.+#'() 21) Y%6$%@() 21) >11%#'$6%&%((; '*%)*$<*%(') &359%.) 21) .%,%6+&') +&/)'*% +6+$,+9,%) %6$/%&#%7) L') $() +##%(($9,%) 2&-
C%&'.+,) Y%<$('%.) 21) C2&'.2,,%/) B.$+,(; ,2@%(')&359%.)21)$..%,%6+&')#$'+'$2&().%- ,$&%)+')*''4NOO@@@7&$#%72.<73D7
+&/)W%+,'*)B%#*&2,2<:)X((%((5%&')`+- '.$%6%/;) "$,6%.[,+''%.) _>`iLc>) #,$&$#+,
'+9+(%)#+&)9%)(%+.#*%/)($53,'+&%23(,:7 H23.&+,) (39(%') 2&) C`-Y?_) 4%.12.5%/
B*%)C2#*.+&%)i$9.+.:)$()+6+$,+9,%)2& 9%(') 12.) ,$9.+.$+&) (%+.#*%(;) @*%.%+() '*% 1.!5!1/00D*/77./!3!-+*
C`-Y?_)9:)4%.(2&+,)2.)$&('$'3'$2&+, [+4%.C*+(%)2&-,$&%)(:('%5)@2.D%/)9%(' 56,*,V!4,-1,
(39(#.$4'$2&)+&/)2&)'*%)V2.,/)V$/% 12.) #,$&$#$+&) (%+.#*%(7) V*%&) H3/<%/) 9: X1'%.) %6$/%&#%) $() 123&/;) '*%) &%F') ('%4) $&
V%9)1.25)V$,%:)L&'%."#$%&#%)E*''4NOO #2(') 4%.) .%,%6+&') #$'+'$2&;) `$+,2<h( 4.+#'$#$&<)>a_)$()#.$'$#+,,:)+44.+$($&<)'*%
@@@J7$&'%.(#$%&#%7@$,%:7#25O#<$-9$&O ^&2@,%/<%) L&/%F) 4%.12.5%/) 9%(') 12. A3+,$':) 21) '*%) %6$/%&#%) +&/) /%'%.5$&$&<
5.@*25%O!STUTbZUJOW?_>G7)"39- 92'*),$9.+.$+&)+&/)#,$&$#$+&)(%+.#*%(7US '*%)5+<&$'3/%)21)%11%#'()+&/)'*%)4.%#$($2&
(#.$9%.()'2)'*%)C2#*.+&%)i$9.+.:)+.% >_aX">) $() ;.1!2"4,* I!$#1,h() /+'+- 21)'*%)%6$/%&#%7) B*%) #.$'%.$+)12.)#.$'$#+,,:
4.26$/%/)@$'*)A3+.'%.,:)34/+'%(7)B*% 9+(%) #26%.$&<) 4*+.5+#2,2<:) +&/) 9$2- +44.+$($&<) 4+4%.() +923') '.%+'5%&';) /$+<-
C2#*.+&%) i$9.+.:)$()211%.%/)1.%%) 21 5%/$#+,) (4%#$+,'$%(7!J) >_aX">) *+() 9%'- &2('$#)'%('(;)+&/)*+.513,)%11%#'() 21) %F42-
#*+.<%)$&)5+&:)#23&'.$%()9:)&+'$2&+, '%.) #26%.+<%) 21) >3.24%+&) +&/) &2&I (3.%()+.%)(*2@&)$&)B+9,%()Q-J; Q-M;)+&/
4.26$($2&)+&/)9:)5+&:)5%/$#+,)(#*22,( >&<,$(*) ,+&<3+<%) (23.#%() +&/) 5+:) 9% Q-U;) .%(4%#'$6%,:7!J;QT) [+4%.() '*+') 5%%'
CJ
'*%(%)#.$'%.$+)+.%)52.%),$D%,:)'2)4.26$/%)$&-
!"#$%&)(*
12.5+'$2&) '*+') $() +##3.+'%) +&/) 3(%13,) $&
:A#*#>)=%3@@A)#')=%;<%)%J)@(A%3B;\*%4+(A)@W
'*%)#+.%)21)4+'$%&'(7!J;QT)X)/%'+$,%/)%F4,+-
/$=*#C=*$=>'H#>*%U*#C)>*>)"BH=*T$=c="#)c=*%$*#C=$:T='#)(*#$):H*c:H)&o &+'$2&)21)%+#*)#.$'%.$2&!J;QT)+&/)+&)%F+5-
<:>*#C=*:>>)B"M="#*%U*T:#)="#>*#%*#$=:#M="#>*$:"&%M)K=&*:"&*b:>*#C=*$:"&%M)K:#)%"*H)>#*(%"A 4,%) $&62,6$&<) +) 4+'$%&') @$'*) +) /%.5+'2-
(=:H=&o ,2<$#)#254,+$&')+.%)+6+$,+9,%7MU
<=$=*:HH*T:#)="#>*bC%*="#=$=&*#C=*#$):H*:((%'"#=&*U%$*:#*)#>*(%"(H'>)%"*:"&*b=$=*#C=)$*&:#:* C.$'$#+,,:)+44.+$($&<)%6$/%&#%)#2&($('(
:":H@K=&*)"*#C=*B$%'T>*#%*bC)(C*#C=@*b=$=*$:"&%MH@*:>>)B"=&o 21) '*%) '*.%%) ('%4() 21) /%'%.5$&$&<
<=$=*T:#)="#>*:"&*(H)")():">*?=T#*JH)"&*:>*#%*bC)(C*#$=:#M="#*b:>*J=)"B*$=(=)c=&o @*%'*%.)'*%).%(3,'()*+6%)%+#*)21)'*%)12,-
/>)&=*U$%M*#C=*=NT=$)M="#:H*#$=:#M="#L*b=$=*#C=*B$%'T>*#$=:#=&*=S':HH@o ,2@$&<)#*+.+#'%.$('$#(N
<=$=*#C=*B$%'T>*>)M)H:$*:#*#C=*>#:$#*%U*#C=*#$):Ho
/$=*#C=*c:H)&*$=>'H#>*%U*#C)>*$:"&%M)K=&*#$):H*)MT%$#:"#o l m+,$/$':)E$7%7;)'*%:)+.%)+()3&9$+(%/)+(
42(($9,%G
1:H('H:#)%">X
l C,$&$#+,)$542.'+&#%
!"#=$c="#)%"* 1%MT:$)>%"*I!"#=$c="A 4)UU=$="(=*)"* -'MJ=$*-==&=&*
l X44,$#+9$,$':) '2) '*%) (4%#$0#) 4+'$%&'
.=>T%">=*.:#= #)%"R*.=>T%">=*.:#= .=>T%">=*.:#=> #%*5$=:#
9%$&<)(%%&
I!..R I1..R I4..R*I!..*h*1..R I--5R*I8a4..R
<C:#*)>*#C=*]Ql*(%"`&="(=*)"#=$c:H*%U*#C=*&)UU=$="(=*)"*$=>T%">=*$:#=>*I4..Ro: `%'%.5$&$&<) '*%) 6+,$/$':) 21) %6$/%&#%
<C:#*)>*#C=*]Ql*(%"`&="(=*)"#=$c:H*%U*#C=*--5oJ #%&'%.()2&)+(#%.'+$&$&<)@*%'*%.)'*%)%6$-
1:"*@%'*:TTH@*#C)>*c:H)&L*)MT%$#:"#*=c)&="(=*)"*(:$)"B*U%$*@%'$*T:#)="#o /%&#%) @+() 4.2/3#%/) $&) +) 5+&&%.) 52('
4%*#C=>=*$=>'H#>*:TTH@*#%*@%'$*T:#)="#o ,$D%,:) '2) %,$5$&+'%) +&/) +62$/) 9$+(7) B*%
!>*@%'$*T:#)="#*>%*&)UU=$="#*U$%M*#C%>=*)"*#C=*#$):H*#C:#*)#>*$=>'H#>*(:"t#*C=HT*@%'o #.$'$#+,) A3%('$2&() '2) +(D) '2) /%'%.5$&%
6%b*B$=:#*b%'H&*#C=*T%#="#):H*J="=`#*%U*#C=$:T@*:(#':HH@*J=*U%$*@%'$*)"&)c)&':H*T:#)="#o '*%)6+,$/$':)21)4+4%.()+923')'*%.+4:;)/$-
4%*#C=*$=B)M="*:"&*)#>*(%">=S'="(=>*>:#)>U@*@%'$*T:#)="#t>*c:H'=>*:"&*T$=U=$="(=>o +<&2('$#) '%('(;) +&/) *+.513,) %11%#'() +.%
4%*@%'$*T:#)="#*:"&*@%'*C:c=*:*(H=:$*:>>=>>M="#*%U*@%'$*c:H'=>*:"&*T$=U=$="(=>o (*2@&) +') '*%) '24() 21) B+9,%() Q-J; Q-M;
/$=*#C)>*$=B)M="*:"&*)#>*(%">=S'="(=>*(%">)>#="#*b)#C*#C=Mo +&/ Q-U;).%(4%#'$6%,:7
:5C=*]Ql*(%"`&="(=*)"#=$c:H*%U*#C=*4..*)>*U$%M
,c)&="(=*/J%'#*5C=$:T@*
4.. ! 8;]^ ! 3, *#%*4.. u 8;]^ ! 3, :"&*7$=c="#)%"
GHH* " 8 ! !.. # IHH* " 8 ! IHH # "'3/$%() 21) '*%.+4:) (*23,/) .+&/25,:) +(-
bC=$=*3,*I>#:"&:$&*=$$%$R f AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA u AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA
-%;*)"#=$c="#)%"*T:#)="#> -%;*(%MT:$)>%"*T:#)="#> ($<&) 4+'$%&'() '2) '.%+'5%&') <.234() E3(-
J5C=*]Ql*(%"`&="(=*)"#=$c:H*%U*#C=*--5*f*8aH)M)#>*%"*#C=*(%"`&="(=*)"#=$c:H*%U*)#>*4..; $&<) +) '+9,%) 21) .+&/25) &359%.() 2.
E$%M*3:(?=##*4*=#*:HX*?@43#25#A(&B#3$C#34542#D$=)E$.)$F'&5.45#$&23$!#&5"$?(C;*,&)"J'$BCL*1C'$(C)HH*0)cA 4(%3/2-.+&/25) &359%.() <%&%.+'%/) 9:
)"B>#%"=L*8]]^; #2543'%.G) +&/) %&(3.%) #2&#%+,%/) +,,2#+-
'$2&)E%7<7;)9:)3($&<)24+A3%)%&6%,24%()(2
'*+') '*%) '.%+'$&<) 4*:($#$+&) #+&&2') <3%((
!"#$%&)(+&
'2)@*$#*)'.%+'5%&')<.234)'*%)4+'$%&')*+(
:A#*#>)=%3@@A)#')=%;<%)%J)@(A%3B;\*%)%&#)]$;'*#>%4('*
9%%&)+(($<&%/G7)L&)+//$'$2&;)'*%.%)(*23,/
/$=*#C=*$=>'H#>*%U*#C)>*&):B"%>#)(*>#'&@*c:H)&o 9%) &%+.,:) #254,%'%) 12,,2@-34) 21) +,,) 4+-
g <:>*#C=$=*:"*)"&=T="&="#L*JH)"&*(%MT:$)>%"*b)#C*:*$=U=$="(=*IB%H&R*>#:"&:$&*%U*&):B"%>)>o '$%&'() %&'%.%/) $&'2) '*%) ('3/:=) $&'%&'$2&-
g <:>*#C=*&):B"%>#)(*#=>#*=c:H':#=&*)"*:"*:TT$%T$):#=*>T=(#$'M*%U*T:#)="#>*IH)?=*#C%>=*)"*bC%M*)#* '2-'.%+') +&+,:($() 21) .%(3,'(=) 5+(D$&<) 21
b%'H&*J=*'>=&*)"*T$:(#)(=Ro $&6%('$<+'2.(;) 4+'$%&'(;) +&/) ('+'$('$#$+&(
g <:>*#C=*$=U=$="(=*>#:"&:$&*:TTH)=&*$=B:$&H=>>*%U*#C=*&):B"%>#)(*#=>#*$=>'H#o @*%.%) 42(($9,%=) %A3+,) '.%+'5%&') 21
/$=*#C=*c:H)&*$=>'H#>*%U*#C)>*&):B"%>#)(*>#'&@*)MT%$#:"#o <.234(=) +&/) ($5$,+.$':) 9%'@%%&) '.%+'-
1:H('H:#)%">X 5%&')<.234()@$'*).%<+./)'2)'*%)/$('.$93-
5:$B=#*4)>%$&=$ '$2&()21)4.2<&2('$#)6+.$+9,%(7)B*%(%)#.$'%-
7$=>="# /J>="# .$+) .%4.%(%&') 2&,:) +) (5+,,) (39(%') 21) '*%
4):B"%>#)( 7%>)#)c= : J 1%+'3.%() 21) +) @%,,-/%($<&%/) +&/) @%,,-
5=>#*.=>'H# .%42.'%/)#,$&$#+,)'.$+,7JZ)X)52.%)#254,%'%
-=B:#)c= ( &
(%')21)#.$'%.$+)*+()9%%&)439,$(*%/;)+&/)+/-
g 3=">)#)c)#@*f*:aI:*u*(R *%.%&#%) '2) '*%(%) #.$'%.$+) $() .%A3$.%/) 9:
g 3T=()`()#@*f*&aIJ*u*&R 5+&:)21)'*%),%+/$&<)5%/$#+,)H23.&+,(7UJ
g 0)?=H)C%%&*$:#)%*U%$*:*T%>)#)c=*#=>#*$=>'H#*f*i:aI:*u*(RjaiJaIJ*u*&Rj*f*>=">)#)c)#@aI8*h*>T=()`()#@R L542.'+&') '%.5() +&/) #2&#%4'() '*+'
g 0)?=H)C%%&*$:#)%*U%$*:*"=B:#)c=*#=>#*$=>'H#*f*i(aI:*u*(Rjai&aIJ*u*&Rj*f*I8*h*>=">)#)c)#@Ra>T=()`()#@ 53(') 9%) 3&/%.('22/) '2) /%'%.5$&%
1:"*@%'*:TTH@*#C)>*c:H)&L*)MT%$#:"#*=c)&="(=*:J%'#*:*&):B"%>#)(*#=>#*)"*(:$)"B*U%$*@%'$*T:#)="#o @*%'*%.) '*%) .%(3,'() 21) +) 4+4%.) +923'
g !>*#C=*&):B"%>#)(*#=>#*:c:)H:JH=L*:UU%$&:JH=L*:(('$:#=L*:"&*T$=()>=*)"*@%'$*>=##)"Bo '*%.+4:) +.%) #,$&$#+,,:) $542.'+&') $&#,3/%
g 1:"*@%'*B="=$:#=*:*(H)")(:HH@*>=">)JH=*=>#)M:#=*%U*@%'$*T:#)="#t>*T$=A#=>#*T$%J:J)H)#@*IU$%M*T$:(A '*%)12,,2@$&<N
#)(=*&:#:L*U$%M*T=$>%":H*=NT=$)="(=L*U$%M*#C=*$=T%$#*)#>=HUL*%$*U$%M*(H)")(:H*>T=('H:#)%"Ro
l B*%) 5+<&$'3/%) 21) '*%) '.%+'5%&'
g <)HH*#C=*$=>'H#)"B*T%>#A#=>#*T$%J:J)H)#)=>*:UU=(#*@%'$*M:":B=M="#*:"&*C=HT*@%'$*T:#)="#o*I1%'H&*)#*
%11%#'
M%c=*@%'*:($%>>*:*#=>#A#$=:#M="#*#C$=>C%H&o*<%'H&*@%'$*T:#)="#*J=*:*b)HH)"B*T:$#"=$*)"*(:$$@)"B*
l B*%)4.%#$($2&)21)'*$()6+,3%
%'#*@%'$*$=(%MM="&:#)%">oR
l B*%)/$11%.%&#%)$&).%(42&(%).+'%(
g <%'H&*#C=*(%">=S'="(=>*%U*#C=*#=>#*C=HT*@%'$*T:#)="#o
l L'().%#$4.2#+,;)'*%)&359%.)&%%/%/)'2
E$%M*3:(?=##*4*=#*:HX*?@43#25#A(&B#3$C#34542#D$=)E$.)$F'&5.45#$&23$!#&5"$?(C;*,&)"J'$BCL*1C'$(C)HH*0)cA '.%+')EccBG
)"B>#%"=L*8]]^; l B*%)#2&0/%&#%)$&'%.6+, C!
'2)'.%+'5%&')21'%&)/2)&2')#2&6%:)+&)+#-
!"#$%&)(,
#3.+'%)#,$&$#+,)4$#'3.%)21)'*%)#*+&<%()'*+'
:A#*#>)=%3@@A)#')=%;<%)%J)@(A%3B;\*%5)A^
*+6%)2##3..%/7UM
/$=*#C=*$=>'H#>*%U*#C)>*C:$M*>#'&@*c:H)&o B*%) (%#2&/) 5%'*2/) 21) +((%((5%&'
g <=$=*#C=$=*(H=:$H@*&=`"=&*B$%'T>*%U*T:#)="#>L*>)M)H:$*)"*:HH*)MT%$#:"#*b:@>*%#C=$*#C:"*=NT%>'$=* <.234() 4+'$%&'() +##2./$&<) '2) '*%$.) /%-
#%*#C=*#$=:#M="#*%$*%#C=$*(:'>=o <.%%) 21) $54.26%5%&'7) B.%+'5%&'() +.%
g <=$=*#$=:#M="#*=NT%>'$=>*:"&*(H)")(:H*%'#(%M=>*M=:>'$=&*#C=*>:M=*b:@>*)"*J%#C*B$%'T>o*iE%$* '*%&) #254+.%/) $&) '%.5() 21) '*%$.) +9$,$':
)">#:"(=L*b:>*#C=*:>>=>>M="#*%U*%'#(%M=>*=)#C=$*%JO=(#)c=*I=;B;L*&=:#CR*%$*JH)"&=&*#%*=NT%>'$=oj '2) 526%) 4+'$%&'() $&'2) #+'%<2.$%() .%4.%-
g <:>*#C=*U%HH%bA'T*%U*>#'&@*T:#)="#>*(%MTH=#=*:"&*H%"B*="%'BCo (%&'$&<)*$<*%.)/%<.%%()21)$54.26%5%&'7
4%*#C=*$=>'H#>*>:#)>U@*>%M=*m&):B"%>#)(*#=>#>*U%$*(:'>:#)%"no B*%.%)+.%)'@2)5+H2.)4.29,%5()@$'*)'*$(
g !>*)#*(H=:$*#C:#*#C=*=NT%>'$=*T$=(=&=&*#C=*%">=#*%U*#C=*%'#(%M=o 12.5)21)+((%((5%&'7)B*%)0.(')$()'*+')'*%
g !>*#C=$=*:*&%>=A$=>T%">=*B$:&)="#o #+'%<2.$%()21)$54.26%5%&')+.%)21'%&)&2'
g !>*#C=$=*T%>)#)c=*=c)&="(=*U$%M*:*m&=(C:HH="B=A$=(C:HH="B=n*>#'&@o @%,,) /%0&%/7) B*%) (%#2&/) 4.29,%5) $(
g !>*#C=*:>>%():#)%"*(%">)>#="#*U$%M*>#'&@*#%*>#'&@o '*+') '*%) #+'%<2.$%() +.%) &2') +//$'$6%7UM
g 4%=>*#C=*:>>%():#)%"*M:?=*J)%H%B)(*>=">=o B*+') $(;) TS) 4%.#%&') '2) bS) 4%.#%&') $5-
/$=*#C=*c:H)&*$=>'H#>*U$%M*#C)>*C:$M*>#'&@*)MT%$#:"#o 4.26%5%&')$()21'%&)+((35%/)'2)9%)'@$#%
1:H('H:#)%">X +()<22/)+()QS)4%.#%&')'2)MS)4%.#%&')$5-
/&c=$>=*2'#(%M= 4.26%5%&';)93')&2)(3#*)&35%.$#+,).%,+-
'$2&(*$4) %F$('() 9%'@%%&) '*%(%) (39H%#-
7$=>="#*I1:>=R /J>="#*I1%"#$%HR
'$6%,:)/%0&%/)#+'%<2.$%(7
,NT%>=&*#%*#C=* D=>*I(%C%$#R : J B2)9%)52(')3(%13,;)'*%)23'#25%)6+.$-
5$=:#M="# -%*I(%C%$#R ( & +9,%()'2)9%)5%+(3.%/)53(')9%)#,%+.,:)/%-
0&%/;) 53(') 9%) +() 29H%#'$6%) +() 42(($9,%;
g !"*:*$:"&%M)K=&*#$):H*%$*(%C%$#*>#'&@L*$=H:#)c=*$)>?*f*i:aI:*u*JRjai(aI(*u*&Rj; +&/)53(')*+6%)#,$&$#+,)+&/)9$2,2<$#)($<-
g !"*:*(:>=A(%"#$%H*>#'&@L*%&&>*$:#)%*I%$*$=H:#)c=*%&&>R*f*:&aJ(; &$0#+&#%7JZ;UM) B*%) 9%(') $&/$#%() +&/
3C%'H&*#C=>=*c:H)&L*T%#="#):HH@*)MT%$#:"#*$=>'H#>*%U*:*($)#)(:H*:TT$:)>:H*:J%'#*:*C:$MU'H*#$=:#M="#* (#+,%()+.%)'*%)2&%()'*+')+##3.+'%,:).%]%#'
(C:"B=*#C=*#$=:#M="#*%U*@%'$*T:#)="#o '*%) ('+'%) 21) '*%) /$(%+(%) +&/) '*%) 2&%(
g 1:"*#C=*>#'&@*$=>'H#>*J=*=N#$:T%H:#=&*#%*@%'$*T:#)="#o @*2(%)6+,$/$':)+&/).%,$+9$,$':)*+6%)9%%&
g <C:#*:$=*@%'$*T:#)="#t>*$)>?>*%U*#C=*:&c=$>=*%'#(%M=o 6%.$0%/) 9:) 4.%6$23() @2.D7JZ;UM;Ub) B*%
g <C:#*:$=*@%'$*T:#)="#t>*T$=U=$="(=>L*(%"(=$">L*:"&*=NT=(#:#)%">*U$%M*#C)>*#$=:#M="#o /%6%,245%&') 21) (#+,%() +&/) $&/$#%() 12.
g <C:#*:H#=$":#)c=*#$=:#M="#>*:$=*:c:)H:JH=o +((%(($&<) #3'+&%23() /$(%+(%() +&/) '*%
'%('$&<) 21) '*%$.) 6+,$/$':;) .%4.2/3#$9$,$':;
E$%M*3:(?=##*4*=#*:HX*?@43#25#A(&B#3$C#34542#D$=)E$.)$F'&5.45#$&23$!#&5"$?(C;*,&)"J'$BCL*1C'$(C)HH*0)cA +&/) .%(42&($6%&%(() *+6%) 9%%&) $&+/%-
)"B>#%"=L*8]]^;
A3+'%7JZ;UM;UR)B*%.%12.%;)+),+#D)21)#,%+.,:
/%0&%/)+&/)3(%13,)23'#25%)6+.$+9,%().%-
L&)%6+,3+'$&<)+)#,$&$#+,)'.$+,;)'*%)4*:($- f$&/%Fg) 9:) #+,#3,+'$&<) +) /%.$6+'$6%) 21 5+$&() +) 5+H2.) 4.29,%5) $&) $&'%.4.%'$&<
#$+&) (*23,/) ,22D) 12.) #,$&$#+,) 23'#25% (25%)4.2/3#')21)'*%(%)123.)&359%.(7UU;UT /%.5+'2,2<$#)#,$&$#+,)'.$+,(7
5%+(3.%()'*+')+.%)#,%+.-#3')+&/)#,$&$#+,,: B*%)26%.+,,)#2&/$'$2&)21)'*%)4+'$%&')#+& \&'$,) 9%''%.) (#+,%() +.%) /%6%,24%/;) '.$-
5%+&$&<13,) '2) '*%) 4*:($#$+&) +&/) *$() 2. '*%&) 9%) .%4.%(%&'%/) 9:) '*$() $&/%F7) X +,()@$'*)'*%)($54,%(')+&/)52(')29H%#'$6%
*%.) 4+'$%&'(7JZ) 82.) %F+54,%;) $&) +) ('3/: #2552&)$&/%F)$()'*%)4(2.$+($()+.%+)+&/ 23'#25%) 6+.$+9,%() +.%) '*%) 9%('7) B*%:
21)+)(:('%5$#)'.%+'5%&')12.)@+.'(;)#25- (%6%.$':) $&/%F;) @*$#*) .+&<%() 1.25) S) '2 ,%+/) '2) '*%) ,%+(') +523&') 21) #2&13($2&
4,%'%)/$(+44%+.+&#%)21)@+.'()$()+)5%+&- ZQ7UU)B*%)5+H2.)4.29,%5)@$'*)$&/$#%()$( +&/) (3442.') '*%) ('.2&<%(') #2&#,3($2&(7
$&<13,) 23'#25%;) @*%.%+() +) /%#.%+(%) $& '*+')'*%:)#2&123&/)+.%+)21)$&62,6%5%&' B*3(;) '.$+,() $&) @*$#*) +) #254+.$(2&) $(
'*%)62,35%)21)@+.'()$()&2'7)W$('2.$#+,,:; @$'*)(%6%.$':)21)/$(%+(%7UM)82.)$&('+&#%;)+ 5+/%) 9%'@%%&) /%+'*) +&/) (3.6$6+,;) .%-
'@2) 4.$&#$4+,) 5%'*2/() *+6%) 9%%&) 3(%/ 4+'$%&')@$'*) '*$#D) 4,+A3%-':4%) 4(2.$+($( #3..%&#%) 21) /$(%+(%) +&/) &2) .%#3..%&#%;
'2) /%'%.5$&%) 4+'$%&') 23'#25%() $&) /%.- 21) '*%) D&%%(;) %,92@(;) +&/) (#+,4) 5+: 2.) #3.%) +&/) ,+#D) 21) #3.%) +.%) ('3/$%(
5+'2,2<$#) #,$&$#+,) '.$+,(7) B*%) 0.(') $&- *+6%) '*%) (+5%) $&/%F) +() +) 4+'$%&') @$'* @*2(%)23'#25%)6+.$+9,%()+.%)%+($,:)3&-
62,6%() %F+5$&$&<) '*%) 4+'$%&') 9%12.%; /$113(%) 93') 5$&$5+,) 4(2.$+($() 21) '*% /%.('22/)+&/)6%.$0%/7)82.)'.$+,()$&)@*$#*
/3.$&<;) +&/) +') '*%) #2&#,3($2&) 21) '.%+'- '.3&D) +&/) +.5(7) V*%.%+() '*%) 12.5%. '*%) 23'#25%() +.%) ,%(() #,%+.-#3') +&/
5%&')+&/).%42.'$&<)*2@)'*%)4+'$%&')+4- #2&/$'$2&)$()&2'2.$23(,:)/$10#3,')'2)'.%+'; 52.%) (39H%#'$6%;) +) ($54,%) 2./$&+,) (#+,%
4%+.() +') '*%) 6+.$23() '$5%) 42$&'(7) B*% '*%) ,+''%.) @$,,) <%&%.+,,:) .%(42&/) .+4$/,: $() 4.29+9,:) '*%) 9%(') #*2$#%7UM) B*%) 9%('
(%#2&/)$&62,6%()/%'%.5$&$&<)'*%)/%<.%% +&/) %+($,:) '2) 5+&:) 12.5() 21) '*%.+4:7UM 2./$&+,)(#+,%()$&62,6%)+)5$&$535)21)*3-
21) $54.26%5%&') /3.$&<) '.%+'5%&'7UM) X B*%)(%#2&/)4.29,%5)@$'*)$&/$#%()$()'*+' 5+&) H3/<5%&';) *+6%) +) 4.%#$($2&) '*+') $(
'*$./) 5%'*2/;) /%'%.5$&$&<) '*%) $54+#' '*%:),%&/)+&)+$.)21)4.%#$($2&)'2)'*%)+&+,- 53#*)(5+,,%.)'*+&)'*%)/$11%.%&#%()9%$&<
21)'*%.+4:)2&)'*%)A3+,$':)21)'*%)4+'$%&'h( :($()+&/)4.%(%&'+'$2&)21)/+'+)'*+')$()&2' (23<*';) +&/) +.%) (310#$%&',:) ('+&/+./-
,$1%;)$()9%$&<)$&#.%+($&<,:)3(%/)$&)/%.5+- @+..+&'%/7UM) 82.) $&('+&#%;) B$,$&<-j.2((% $K%/)(2)'*+')'*%:)#+&)9%)3(%/)9:)2'*%.(
'2,2<$#)'.$+,(7JZ +&/) Y%%() /%52&('.+'%/) '*+') 4*:($#$+&( +&/)4.2/3#%)($5$,+.).%(3,'(7Jb
X&) %F+54,%) 21) '*%) 0.(') 5%'*2/) $( +&/)5%/$#+,)('3/%&'()@%.%)422.)+')%('$- L&) +//$'$2&) '2) 9%$&<) #,%+.,:) /%0&%/;
#2552&,:) %&'%.%/) $&) '*%.+4%3'$# 5+'$&<) '*%) +.%+) 21) $&62,6%5%&') 21) (D$& 23'#25%) 6+.$+9,%() (*23,/) *+6%) #,$&$#+,
'.$+,()21)4(2.$+($(7)X)#2552&)4.+#'$#%)$( /$(%+(%;)+&/)'*%.%12.%)(25%)21)'*%)#25- +&/)9$2,2<$#)($<&$0#+&#%7QZ;Qb)82.)%F+5-
'2)+(($<&)&35%.$#+,)6+,3%()'2)'*%)+523&' 42&%&'()'*+')5+D%)34)$&/$#%()5+:)9%)$&- 4,%;) $&) +) '*%.+4%3'$#) '.$+,) 21) 4+'$%&'(
21)%.:'*%5+;)'*%)+523&')21)(#+,$&<;)'*% +##3.+'%7UZ) 8$&+,,:;) #+,#3,+'$2&() 21) '*% @$'*)(%6%.%)+#&%;)'.%+'5%&')@+()+((2#$-
/%<.%%) 21) $&0,'.+'$2&;) +&/) '*%) 92/:) (3.- 5%+&(;) /$11%.%&#%() $&) 5%+&(;) +&/) 4%.- +'%/) @$'*) +) /%#.%+(%) $&) ,%($2&) #23&'
1+#%) +.%+) $&62,6%/;) +&/) '2) 12.53,+'%) +& #%&'+<%()21)#*+&<%)$&)$&/$#%()$&).%(42&(% 1.25) +) 5%+&) 21) MSS) '2) +) 5%+&) 21) JUS7
C9
B*$()&35%.$#+,)/$11%.%&#%)5+:)9%)21)('+- '3/%) 21) '*%) /$11%.%&#%) 9%'@%%&) '*% 9%.) 21) '$5%(G7MU;TU) B*%).%(3,'()@*%&) '*%
'$('$#+,)($<&$0#+&#%;)93')$')/2%()&2')#2&- '.%+'5%&') <.234() $&) +#*$%6$&<) '*%(% '.$+,)@+().%4%+'%/)!S)+&/)!SSS)'$5%()+.%
6%:) '*%) 9$2,2<$#) ($<&$0#+&#%) 21) '*% 5%+&$&<13,) 23'#25%() (*23,/) 9%) /%'%.- (*2@&) $&) 8$<7) Q-!X) +&/)a;) .%(4%#'$6%,:7
#*+&<%) $&) ,%($2&) &359%.7UM) B*$() .%(3,' 5$&%/7)B*%)4.%#$($2&)21)'*%)%('$5+'%)21 X)RU)4%.#%&')#2&0/%&#%)$&'%.6+,)21)S7JU
5+:) 5%+&) '*+') (25%) 4+'$%&'() @$'*) (%- '*%)/$11%.%&#%()+52&<)'.%+'5%&'()(*23,/ '2)S7TU)5%+&()'*+')$1)'*%)'.$+,)$().%4%+'%/
6%.%) +#&%) %F4%.$%&#%/) #254,%'%) #,%+.- 9%) +((%((%/7) \(%13,) 5%+(3.%() 21) '*% 5+&:)'$5%()+&/)+)#2&0/%&#%)$&'%.6+,)$(
+&#%;) @*%.%+() $&) 2'*%.() '*%) +#&%) .%- 5+<&$'3/%) 21) '*%) '.%+'5%&') %11%#') +.% #+,#3,+'%/) 12.) %+#*) '.$+,;) '*%) '.3%) .%(3,'
5+$&%/)'*%)(+5%)2.)<2')@2.(%7)L')#23,/ '*%) /$11%.%&#%) $&) .%(42&(%) .+'%) +&/) $'( 2.) .%(42&(%) '2) '.%+'5%&') @$,,) 9%) $&-
+,(2)5%+&)'*+')$&)52(')4+'$%&'()'*%)+#&% .%#$4.2#+,;) '*%) ccB7!J;QT;MU) B*%) ccB #,3/%/) $&) RU) 4%.#%&') 21) '*%) #2&0/%&#%
<2')(,$<*',:)9%''%.7)83.'*%.52.%;)/2%()+& .%4.%(%&'() '*%) &359%.) 21) 4+'$%&'() 2&% $&'%.6+,() (2) 4.2/3#%/7) X,'%.&+'$6%,:;) $1
$&/$6$/3+,)4+'$%&'),22D)9%''%.)@*%&)'*% @23,/)&%%/)'2)'.%+')'2)+#*$%6%)2&%)+//$- '*%) '.$+,) @%.%) .%4%+'%/) 53,'$4,%) '$5%(;
,%($2&) &359%.) *+() 9%%&) .%/3#%/) 1.25 '$2&+,)#3.%7 '*%).%(3,'()@23,/),$%)@$'*$&)'*+')$&'%.6+,
MSS) '2) JUSq) L() '*%.%) ,%(() (#+..$&<) +&/ B*%) #2&0/%&#%) $&'%.6+,) 4.26$/%() + ES7JU)'2)S7TUG)RU)4%.#%&')21)'*%)'$5%7
1%@%.)#254,$#+'$2&(q 3(%13,) 5%+(3.%) 21) '*%) 4.%#$($2&) 21) '*% B*%) 4243,+'$2&) 2.) '.3%) .%(42&(%) '2
B2) ('.%&<'*%&) #,$&$#+,) '.$+,() +&/) *%,4 '.%+'5%&') %11%#'7!J;QT;MU;T!;TQ) B*%) #+,#3,+- '.%+'5%&') @$,,) 52(') ,$D%,:) ,$%) &%+.) '*%
6+,$/+'%) '*%$.) #2&#,3($2&(;) $&6%('$<+'2.( '$2&) +&/)$&'%.4.%'+'$2&) 21)#2&0/%&#%)$&- 5$//,%) 21) '*%) #2&0/%&#%) $&'%.6+,) +&/
(*23,/) (%,%#') 2&,:) +) 1%@) 23'#25%) 6+.$- '%.6+,()*+6%)9%%&)%F'%&($6%,:)/%(#.$9%/7TJ @$,,).+.%,:)9%)123&/)+')2.)&%+.)'*%)%&/(
+9,%() +&/) (*23,/) #*22(%) '*%5) 9%12.% L&) ($54,%) '%.5(;) '*%) .%42.'%/) .%(3,' 21) '*%) $&'%.6+,7) B*%) 4243,+'$2&) 2.) '.3%
$&$'$+'$2&)21)'*%)('3/:7)_%+(3.%5%&')21 ED&2@&)+()'*%)""*!-4#%,4!G)4.26$/%()'*% .%(42&(%)'2)'.%+'5%&')*+()2&,:)+)!)$&)QS
5+&:) 23'#25%) 6+.$+9,%() $&#.%+(%() '*% 9%(')%('$5+'%)21)'*%)'.%+'5%&')%11%#'7)m+,- #*+&#%) 21) 9%$&<) 23'($/%) 21) '*%) RU) 4%.-
,$D%,$*22/) '*+') (43.$23(;) #*+&#%) /$11%.- 3%() 9%#25%) ,%(() +&/) ,%(() ,$D%,:) +() '*%: #%&')#2&0/%&#%)$&'%.6+,7)\&,%(()+)<$6%&
%&#%() @$,,) 9%) /%'%#'%/7) X&) $&%11%#'$6% 526%) +@+:) 1.25) '*%) .%42.'%/) .%(3,' 4+'$%&') $() 6%.:) /$11%.%&') 1.25) '*%) 4+-
'.%+'5%&')5+:)9%)123&/)%10#+#$23()@*%& @$'*$&)'*%)#2&0/%&#%)$&'%.6+,7!J;QT;MU)B*% '$%&'() $&#,3/%/) $&) '*%) ('3/:;) *$() 2.) *%.
'%('%/) 3($&<) 422.,:) /%($<&%/) 23'#25% #2&0/%&#%) $&'%.6+,) 4.26$/%() +) .+&<%) 21 .%(42&(%) @$,,) 52(') ,$D%,:) ,$%) &%+.) '*%
+((%((5%&') '22,(7) C2&6%.(%,:;) +&) %11%#- 6+,3%()$&)@*$#*)'*%)f4243,+'$2&g)2.)'.3% 5$//,%)21)'*%)#2&0/%&#%)$&'%.6+,7)L1)'*%
'$6%) '*%.+4:) 5+:) 9%) 123&/) $&%11%#'$6% .%(42&(%)'2)'.%+'5%&')$(),$D%,:)'2),$%7 RU)4%.#%&')#2&0/%&#%)$&'%.6+,)21)'*%)/$1-
@*%&)+&)$&(%&($'$6%)(#+,%)$()3(%/7 >F+54,%() 21) '*%) +44,$#+'$2&) 21) '*% 1%.%&#%) $&) .%(42&(%) .+'%() %F#,3/%() K%.2
"4%#$+,)4.%#+3'$2&()+.%).%#255%&/%/ #2&#%4'() 21) ccB) +&/) #2&0/%&#%) $&'%.- /$11%.%&#%;) 2&%) #+&) .%H%#') '*%) &3,,) *:-
'2) .%#2<&$K%) +&/) .%5+$&) (D%4'$#+,) 21 6+,) +.%) <$6%&) $&) +) 4+4%.) $/%&'$0%/ 42'*%($()'*+')'*%)'@2)'.%+'5%&'()+.%)'*%
(39('$'3'%)2.)(3..2<+'%)%&/42$&'(;)%(4%- '*.23<*) +) (%+.#*) 21) '*%) C2#*.+&%) i$- (+5%7QT;MU;T!;TQ
#$+,,:) @*%&) &2) /$11%.%&#%() +.%) /%'%#'%/ 9.+.:)'*+').%42.'%/)'*%).%(3,'()21)+).+&- _$($&'%.4.%'$&<)'.$+,()'*+')1+$,)'2)(*2@
$&)#,$&$#+,,:)$542.'+&')23'#25%(7Qb;TS)>F- /25$K%/) #2&'.2,,%/) '.$+,) #254+.$&<) '*% ('+'$('$#+,,:)($<&$0#+&')/$11%.%&#%()+52&<
+54,%() 21) (3#*) %&/42$&'() $&#,3/%) C`MO 3(%) 21) +) 4,+#%92;) +#:#,26$.;) 4.%/&$(2&%; '.%+'5%&'()$()+)#2552&)%..2.)$&)/%.5+-
C`b) .+'$2() $&('%+/) 21) (3.6$6+,) .+'%() $& +&/) +#:#,26$.) 4,3() 4.%/&$(2&%) $&) '*% '2,2<$#) #,$&$#+,) '.$+,(7) L') $() $542.'+&') '2
('3/$%() 21) '.%+'5%&'() 12.) +#A3$.%/) $5- '.%+'5%&') 21) *%.4%()K2('%.7TM)X') /+:) JS .%5%59%.) '*+') f&2') ('+'$('$#+,,:) ($<&$0-
53&2/%0#$%&#:) (:&/.25%;) +&'$-&3#,%+. 21)'*%)'.$+,;)Mb)21)UQ)4+'%&'()'.%+'%/)@$'* #+&'g)5%+&()'*+')+)/$11%.%&#%)*+()+).%+-
+&'$92/:) ,%6%,() 2.) (%/$5%&'+'$2&) .+'%( +#:#,26$.)%F4%.$%&#%/)'2'+,)*%+,$&<)#25- (2&+9,:)*$<*)4.29+9$,$':)21)*+6$&<)9%%&
$&('%+/) 21) #,$&$#+,) 5%+(3.%() 21) /$(%+(% 4+.%/) @$'*) QQ) 21) UQ) 4+'$%&'() @*2) .%- /3%) '2) #*+&#%=) $') /2%() &2') 5%+&) '*+'
+#'$6$':) $&) ,343() %.:'*%5+'2(3(;) +&/ #%$6%/)+)4,+#%927)B*%).%(42&(%).+'%()12. '*%.%) $() &2) /$11%.%&#%) 2.) '*+') '.%+'5%&'
62,35%) 21) @+.'() $&('%+/) 21) 4.242.'$2& +#:#,26$.) +&/) 4,+#%92) @%.%) S7RQ) +&/ $() &%#%((+.$,:) $&%11%#'$6%7JZ) "$<&$0#+&'
21)4+'$%&'()#,%+.%/)21)@+.'(7)B*%)3(%)21 S7MQ;) .%(4%#'$6%,:;) +&/) '*%) /$11%.%&#%) $& /$11%.%&#%()$&)'.%+'5%&')%11%#'()$&)#25-
#+.%13,,:)#*2(%&)+&/)6+,$/+'%/)(3..2<+'% .%(42&(%).+'%()@+()S7U7)B*%)ccB)@+()Q 4+.$(2&)'.$+,()5+:)9%)5$((%/)$1)'*%)&35-
%&/42$&'() 21'%&) +,,2@() ('3/$%() '2) 4.2- E!OS7UG7)B*$().%(3,')5%+&()'*+')12.)%6%.: 9%.)21)(39H%#'()'%('%/)$()(5+,,7)82.)%F+5-
6$/%) +&(@%.() '2) A3%('$2&() '*+') @23,/ '@2) 4+'$%&'() '.%+'%/) @$'*) +#:#,26$.) $&- 4,%;) $&) +) !RZb) (3.6%:) 21) Z!) 439,$(*%/
':4$#+,,:) .%A3$.%) 53#*) ,+.<%.) 2.) ,2&<%. ('%+/)21)4,+#%92;)2&%)+//$'$2&+,)4+'$%&' '.$+,() @$'*) &%<+'$6%) .%(3,'(;) 8.%$5+&) %'
'.$+,() $1) '*%) '+.<%'%/) #,$&$#+,) %&/42$&' @23,/) (*2@) '2'+,) *%+,$&<) 9:) /+:) JS7 +,7)123&/)'*+')+)QU)4%.#%&')2.)US)4%.#%&'
@%.%)3(%/7)82.)%F+54,%;)+)@%,,-/%($<&%/ B*%) RU) 4%.#%&') #2&0/%&#%) $&'%.6+,) 12. $54.26%5%&') $&) 23'#25%) 5$<*') *+6%
(*2.') #,$&$#+,) '.$+,) 5+:) 9%) (310#$%&') '2 '*%) /$11%.%&#%) $&) .%(42&(%) .+'%() $() S7JU 9%%&) 5$((%/) $&) UZ) EbS) 4%.#%&'G) +&/) JM
/%52&('.+'%)'*+')+)&%@)/.3<)%11%#'$6%,: '2) S7TU;) +&/) '*%) RU) 4%.#%&') #2&0/%&#% EMb) 4%.#%&'G) 21) '*%) ('3/$%(;) .%(4%#-
,2@%.()(%.35)#*2,%('%.2,),%6%,)2.)'*+')+ $&'%.6+,)12.)'*%)ccB)$()Q)'2)J7 '$6%,:7TT)X)12,,2@-34)('3/:)#2&/3#'%/)9:
<$6%&)/.3<)$()%11%#'$6%)$&)#2&'.2,,$&<)*:- V*+') /2%() $') +#'3+,,:) 5%+&) '*+') '*% _2*%.;)`3,9%.<;)+&/)V%,,()$&)!RRM)$&/$-
4%.'%&($2&7) L&) 92'*) #+(%(;) 53#*) ,2&<%. #2&0/%&#%)$&'%.6+,)12.)'*%)/$11%.%&#%)$& #+'%/)'*+')+)QU)4%.#%&')2.)US)4%.#%&')$5-
+&/),+.<%.)('3/$%()@23,/)9%).%A3$.%/)'2 .%(42&(%).+'%()$&)'*%)12.%<2$&<)%F+54,% 4.26%5%&')$&)23'#25%)5$<*')*+6%)9%%&
/%52&('.+'%)'*+')'*%)#*2,%('%.2,-,2@%.- $() S7JU) '2) S7TUq) L1) '*%) $&6%('$<+'2.() $& 5$((%/)$&)bM)4%.#%&')+&/)TM)4%.#%&';).%-
$&<) /.3<) +&/) '*%) +&'$*:4%.'%&($6%) /.3< '*$()('3/:)*+/)'*%)2442.'3&$':)'2).%4%+' (4%#'$6%,:;)21)!SQ)('3/$%()@$'*)&%<+'$6%
.%/3#%/) 52.9$/$':) +&/) 52.'+,$':) 1.25 '*%) ('3/:) 5+&:) '$5%() 3($&<) '*%) (+5% .%(3,'(7TZ)B*%)(+54,%)($K%()21)5+&:)/%.-
+'*%.2(#,%.2'$#)+&/)*:4%.'%&($6%)#+./$2- /%($<&) +&/) 4.2#%/3.%(;) (+54,$&<) 6+.$- 5+'2,2<$#)'.$+,()+.%)21'%&)$&+/%A3+'%)'2
6+(#3,+.) /$(%+(%(;) .%(4%#'$6%,:7) "3..2- +9$,$':) @23,/) 4.%6%&') 29'+$&$&<) '*% /%'%#')#,$&$#+,,:)$542.'+&')/$11%.%&#%(7
<+'%)%&/42$&'()53(')#2..%,+'%)@$'*)#,$&$- (+5%).%(3,'()$&)%+#*)('3/:7)Y%4%+'%/)'.$- B*%)+##%4'+&#%)21)+)($<&$0#+&#%),%6%,
#+,) 23'#25%(;) *2@%6%.;) +&/) '*%$. +,()@%.%)($53,+'%/)3($&<).%(+54,$&<)E.%- 21)7SU)+()'*%)#3'211)12.).%H%#'$&<)'*%)&3,,
6+,$/$':) 53(') *+6%) 9%%&) /%52&('.+'%/ (+54,$&<)$()+)#2543'%.-$&'%&($6%)5%'*2/ *:42'*%($() $()+)'.+/$'$2&) 9+(%/)2&)A3+,-
$&)4.$2.)('3/$%(7 '*+')3(%()'*%).%42.'%/).%(3,'()21)+)'.$+,)'2 $':)#2&'.2,)('+&/+./()+&/)$()&2')+&)+9(2-
?&#%) (23&/;) #,$&$#+,,:) .%,%6+&') 23'- ($53,+'%) '*%) .%(3,'() '*+') @23,/) 9%) 29- ,3'%) '.3'*7) X') '$5%() E%7<7;) @*%&) '.%+'-
#25%) 5%+(3.%() +.%) #*2(%&;) '*%) 5+<&$- '+$&%/)$1)'*%)'.$+,)@%.%).%4%+'%/)+)&35- 5%&'() *+6%) (39('+&'$+,) ($/%) %11%#'(G
C:
KK #" $1)$')@%.%)'*%)'.3%).%(42&(%;)'*%&)+&)$5-
42.'+&')'.%+'5%&')%11%#')5+:)*+6%)9%%&
5$((%/)$&)'*%)('3/:7)C2&($/%.)23.)*:42-
'*%'$#+,) &%@) '.%+'5%&') 12.) 5%'+('+'$#
%$ 5%,+&25+7) B*%) #3.%) .+'%() 12.) '*%) &%@
'.%+'5%&') +&/) '*%) #2&6%&'$2&+,) '.%+'-
5%&') @%.%) MZ) 4%.#%&') +&/) QS) 4%.#%&';
%" .%(4%#'$6%,:;)+&/)'*%)/$11%.%&#%)9%'@%%&
'*%5) @+() '*3() QZ) 4%.#%&'7) B*%) RU) 4%.-
#%&') #2&0/%&#%) $&'%.6+,) 12.) '*%) /$11%.-
%&#%)$&)#3.%).+'%()@+()I!S)4%.#%&')'2)U!
$ 4%.#%&'7)B*%)344%.)923&/+.:)21)'*%)/$1-
1%.%&#%) $&) #3.%) .+'%() @+() U!) 4%.#%&'7
B*$()/$11%.%&#%)@23,/)#,%+.,:)*+6%)+)($<-
&$0#+&') $54+#') 2&) '*%) '.%+'5%&') 21) 4+-
" '$%&'() @$'*) 5%'+('+'$#) 5%,+&25+) E'*%
"A%)))))"A#)))))"A!)))))"A>)))))"A$)))))"A?)))))"A@)))))"AB)))))"AC ccB) $() QtG;) +&/) '*%.%12.%) +) ($<&$0#+&'
0*22(.(+4()*+).(/:1+/().-9(/ '.%+'5%&') +/6+&#%) 5+:) *+6%) 9%%&
5$((%/)$&)'*$()('3/:7)X,(2)&2'%)'*+')'*%
RU)4%.#%&')#2&0/%&#%)$&'%.6+,)21)'*%)/$1-
1%.%&#%) $&) #3.%) .+'%() $&#,3/%() K%.2) /$1-
11 C$D)E6 1%.%&#%=) '*%.%12.%;) @%) #+&&2') #2&#,3/%
@$'*) +) *$<*) /%<.%%) 21) #2&0/%&#%) '*+'
'*%).%(42&(%).+'%()21)'*%)'@2)'.%+'5%&'(
+.%)/$11%.%&'7)W2@%6%.;)@*%&)K%.2)$()$&-
!"" #,3/%/)+()2&%)21)'*%)6+,3%()$&)'*%)#2&0-
/%&#%) $&'%.6+,;) '*%) $&1%.%&#%) '*+') '*%
'*%.+4:) $() &2') %10#+#$23() 1+$,() '2) #2&-
($/%.) '*%) 1+#') '*+') '*%) 9%(') %('$5+'%) 21
#"" %11%#')$()'*%)42$&')%('$5+'%)E%7<7;)'*%)29-
(%.6%/)/$11%.%&#%)$&)#3.%).+'%()21)QZ)4%.-
#%&') $&) 23.) *:42'*%'$#+,) %F+54,%G7Tb) L&
%"" 2'*%.)@2./(;)'*%)6+,3%()#2&'+$&%/)$&)'*%
#2&0/%&#%)$&'%.6+,)+.%)&2')%A3+,,:),$D%,:
+&/) 9%#25%),%(()+&/),%(() ,$D%,:) +() '*%:
526%) +@+:) 1.25) '*%) 42$&') %('$5+'%7
" B*3(;)$&)'*%)%F+54,%;)+)/$11%.%&#%)21)QU
"A%)))))"A#)))))"A!)))))"A>)))))"A$)))))"A?)))))"A@)))))"AB)))))"AC 4%.#%&') E#,2(%) '2) '*%) 29(%.6%/) QZ) 4%.-
0*22(.(+4()*+).(/:1+/().-9(/ #%&'G)$()53#*)52.%),$D%,:)'*+&)+)/$11%.-
%&#%) 21) IU) 4%.#%&') E1+.) 1.25) '*%) 29-
>?@AB&%JDC !U*#C=*:(@(H%c)$*#$):H*b=$=*$=T=:#=&*8Y*IKR*%$*8YYY*I1R*#)M=>L*#C=*$=>'H#>*)"*K*:"&*1L*$=A (%.6%/)QZ)4%.#%&'G7JZ
>T=(#)c=H@L*M)BC#*J=*%J#:)"=&;*1!*f*(%"`&="(=*)"#=$c:H;
,c)&="(=*/J%'#*4):B"%>#)(*5=>#>
52.%) ('.$&<%&') ('+&/+./() +.%) .%A3$.%/; /$11%.%&#%)$&).%(42&(%).+'%(;)$')5+:).%(3,' B2) 9%) 6+,$/;) ('3/$%() 21) /$+<&2('$#) '%('(
+&/) 4+.+/2F$#+,,:;) .%(3,'() '*+') /2) &2' $&) '*%) (+6$&<) 21) QMSS) ,$6%() +&&3+,,: (*23,/)$&#,3/%)9,$&/)#254+.$(2&)@$'*)+
5%%') '*%) 4) r) S7SU) ('+&/+./) (25%'$5%( E9+(%/) 2&) ZQSS) /%+'*() 1.25) 5%,+&25+ #.$'%.$2&) E<2,/G) ('+&/+./;) %6+,3+'$2&) $&
5+:) 9%) #,$&$#+,,:) ($<&$0#+&'7) 82.) %F+5- +&&3+,,:) +&/) '*%) $54.26%5%&') $&) (3.- +&) +44.24.$+'%) (4%#'.35) 21) 4+'$%&'(;
4,%;) #2&($/%.) +) *:42'*%'$#+,) '.$+,) 21) + 6$6+,) $&) '*$() *:42'*%'$#+,) %F+54,%G7) a%- +&/) #2&($('%&') +44,$#+'$2&) 21) '*%) #.$'%-
&%@) #*%52'*%.+4%3'$#) +<%&') $&62,6$&< #+3(%)21)'*%)9$2,2<$#)+&/)#,$&$#+,)$542.- .$2&)('+&/+./7)8%@)('3/$%()$&)/%.5+'2,-
JS) 4+'$%&'() @$'*) 5%'+('+'$#) 5%,+&25+ '+&#%) 21) '*%) .%(3,'() (3<<%('%/) 9:) '*% 2<:)5%%')'*%(%)#.$'%.$+7)
.+&/25,:) +(($<&%/) '2) '.%+'5%&') <.234( '.$+,;) '*%) '.%+'5%&') (*23,/) 9%) $&6%('$- L542.'+&') '%.5() +&/) #2&#%4'() '*+'
'*+')4.2/3#%/)+)U-:%+.)(3.6$6+,).+'%)21)Z <+'%/)$&)+)('3/:)'*+')3(%()+),+.<%.)4+'$%&' 53(')9%)3&/%.('22/)'2)/%'%.5$&%)@*%'*%.
21) !U) +52&<) 4+'$%&'() '.%+'%/) @$'*) '*% <.234) +&/) *+() 52.%) 42@%.) '2) /%'%#') + '*%).%(3,'()21)+)4+4%.)%F+5$&$&<)+)/$+<-
&%@) +<%&') +&/) J) 21) !U) +52&<) #2&'.2, ($<&$0#+&')/$11%.%&#%)$1)2&%)%F$('(7JZ &2('$#) '%(') +.%) #,$&$#+,,:) $542.'+&') $&-
4+'$%&'() '.%+'%/) @$'*) #2&6%&'$2&+,) (3.- B*%)42'%&'$+,)9%&%0')21)'*%)'.%+'5%&' #,3/%)'*%)12,,2@$&<N
<%.:;) #*%52'*%.+4:;) +&/) .+/$+'$2&7 5+:) 9%) 13.'*%.) .%6%+,%/) 9:) '*%) 3(%) 21
l i$D%,$*22/).+'$2
V*%.%+()'*%).%(3,')/2%()&2')+#*$%6%)('+- #2&0/%&#%) $&'%.6+,(7) B2) /%'%.5$&%
l [.%-'%(')4.29+9$,$':
'$('$#+,) ($<&$0#+&#%) @*%&) +&+,:K%/) 9: @*%'*%.) +) '.%+'5%&') %11%#') 5+:) *+6%
l [2('-'%(')4.29+9$,$':
#*$) (A3+.%) '%('$&<) Es+'%() #2..%#'%/) #*$ 9%%&) 5$((%/) $&) +) ('3/:) .%42.'$&<) &%<+-
l B*.%(*2,/)12.)+#'$2&
(A3+.%) r) !7JU=) 4) r) S7QUG;) '*%) .%(3,') $( '$6%)E&2')('+'$('$#+,,:) ($<&$0#+&'G).%(3,'(;
&2&%'*%,%(()42'%&'$+,,:)($<&$0#+&'7)L1)'*% 2&%)(*23,/),22D)+')'*%)344%.)923&/+.: B*%),$D%,$*22/).+'$2)$()'*%)4%.#%&'+<%
'*%.+4:) $() 9%&%0#$+,) +&/) '*%) %('$5+'%/ 21)'*%)RU)4%.#%&')#2&0/%&#%)$&'%.6+,7)L1 21) 4%24,%) @$'*) '*%) <$6%&) /$(%+(%) 12.
/$11%.%&#%) $&) .%(42&(%) .+'%() $() '*%) '.3% '*$()6+,3%)@23,/)9%)#,$&$#+,,:)$542.'+&' @*25)'*%)'%(').%(3,')$()42($'$6%)/$6$/%/
C<
9:)'*%)4%.#%&'+<%)21)4%24,%)@*2)/2)&2' A% CC *+.513,) %11%#'() 21) %F42(3.%() +.%) #,$&$-
*+6%) '*%) /$(%+(%) 12.) @*25) '*%) '%(') .%- #+,,:)$542.'+&')$&#,3/%)'*%)12,,2@$&<N
(3,')$()42($'$6%7MU)B*%),$D%,$*22/).+'$2)$(
A# l C+(%-#2&'.2,)+&/)#2*2.')('3/$%(
'.+/$'$2&+,,:)'+3<*')+()'*%)(%&($'$6$':)/$-
l Y$(D).+'$2
6$/%/) 9:) !) 5$&3() '*%) (4%#$0#$':) d,$D%,$- %""" l ?//().+'$2
*22/).+'$2)r)(%&($'$6$':OE!)I)(4%#$0#$':Ge A$ C$
+&/) 4.26$/%() +&) %('$5+'$2&) 21) *2@ L&)+)#2*2.')('3/:)+)<.234)21)$&/$6$/3-
53#*) *$<*%.) '*%) ,$D%,$*22/) 21) '*%) /$(- )))))% C" +,()@*2)+.%)%F42(%/)'2)+&)+<%&')$()#25-
$""
%+(%)$(;)<$6%&)+)42($'$6%)'%(').%(3,')E42('- 4+.%/) @$'*) +&) +44.24.$+'%,:) (%,%#'%/
'%(') 4.29+9$,$':G;) #254+.%/) @$'*) '*% )))))# #"" B" 3&%F42(%/) #2&'.2,) <.234) +&/) 92'*
4.29+9$,$':)9%12.%)'*%)'%(')$()/2&%)E4.%- %"" <.234()+.%)12,,2@%/)3&'$,)+&)%6%&')21)$&-
$" @"
'%(')4.29+9$,$':G7!J;QT)X&)$/%+,)'%(')$()2&% $ '%.%(') 2##3.() 2.) 12.) +) 4.%-(4%#$0%/
'*+') @$,,) +,52(') +,@+:() :$%,/) 42($'$6% #" ?" ,%&<'*)21)'$5%7)B*%)+((2#$+'$2&)9%'@%%&
.%(3,'() @*%&) '*%) /$(%+(%) $() 4.%(%&') +&/ %" $" %F42(3.%) +&/) '*%) *+.513,) 23'#25%) $(
%"
&%<+'$6%).%(3,'()@*%&)'*%)/$(%+(%)$()+9- $ >" %F4.%((%/)+()'*%).%,+'$6%).$(D)E(%%)B+9,%
(%&'7)B*3(;)$')$()2&%)@$'*)+)*$<*)(%&($'$6-
#" # !" Q-U)12.).%,+'$6%).$(D)#+,#3,+'$2&(G7)X).%,+-
$':)+&/)(4%#$0#$':7)"3#*)+)'%(')@$,,)*+6% % '$6%) .$(D) 21) !) $54,$%() &2) +((2#$+'$2&7) L1
+)6%.:)*$<*),$D%,$*22/).+'$27 )))!" #" '*%) .%,+'$6%) .$(D) $() <.%+'%.) '*+&) !;) '*%&
A$
82.) '*%) ,$D%,$*22/) .+'$2) '2) 9%) 3(%13,; >" '*%) .%(3,')$54,$%()+) 42($'$6%)+((2#$+'$2&
A# %"
2&%)53(')*+6%)+&)$/%+)21)*2@),$D%,:)$')$( $" 9%'@%%&)%F42(3.%)+&/)'*%)*+.513,)23'-
'*+') '*%) /$(%+(%) $() 4.%(%&') 9%12.%) '*% A% #25%7)L1)$')$(),%(()'*+&)!;)'*%&)'*%)$54,$-
?" A"$ $
'%(') $() /2&%) E$7%7;) '*%) 4.%-'%(') 4.29+9$,- #+'$2&)$()21)+&)$&6%.(%)+((2#$+'$2&7)W2@-
$':G) +&/) +) (%&(%) 21) *2@) #%.'+$&) 2&% ))@" A"# %6%.;) '2) $&1%.) +) #+3(+,) +((2#$+'$2&
&%%/()'2)9%)'2)#2&#,3/%)'*+')'*%)4+'$%&' ))))B" A"% .%]%#'%/) 9:) %$'*%.) +&) $&#.%+(%) $&) .$(D
A""$ #
*+()'*%)/$(%+(%)+&/)'2)+#')2&)'*$()$&12.- E.%,+'$6%).$(D)21)52.%)'*+&)!G)2.)+)4.2'%#-
5+'$2&) E$7%7;) '*%) '*.%(*2,/) 12.) +#- A""# '$6%)%11%#')E.%,+'$6%).$(D),%(()'*+&)!G;)2&%
C" %
'$2&G7MU;TR)B*%)4.%-'%(')4.29+9$,$':)$()/%- 53(')%6+,3+'%)'*%)6+,$/$':)+&/)4.%#$($2&
'%.5$&%/) 1.25) +6+$,+9,%) 439,$(*%/) /+'+ C$ A$ 21) '*%) .%,+'$6%) .$(D) %('$5+'%7) B*%) 4.%#$-
2.) 9+(%/) 2&) 4*:($#$+&) %F4%.$%&#%) +&/ A""% ($2&) #+&) 9%) .%+/$,:) +((%((%/) 9:) 5%+&(
H3/<5%&'7QT;MU) ?&#%) '*%) 4.%-'%(') 4.29+- 21)'*%)RU)4%.#%&')#2&0/%&#%)$&'%.6+,7)X
9$,$':) $() D&2@&) 2.) %('$5+'%/) +&/) '*% A# #2&0/%&#%) $&'%.6+,) '*+') /2%() &2') $&-
,$D%,$*22/).+'$2) $() /%'%.5$&%/;) +)&252- #,3/%) !7S) /%&2'%() +) ('+'$('$#+,,:) ($<&$0-
<.+5) #+&) 9%) 3(%/) '2)%('$5+'%) '*%)42('- CC A% #+&') +((2#$+'$2&7) a%#+3(%) '*%) 52('
'%(')4.29+9$,$':)E8$<7)Q-QG7QT F.(9(/9 G*H(6*;117 F1/99(/9 ,$D%,:).%(3,')21)+)('3/:)$()'*%)42$&')%('$-
L1) +) &252<.+5) $() &2') +6+$,+9,%;) '*% :.13-3*6*9, .-9*1 :.13-3*6*9, 5+'%) E$7%7;) '*%) .%42.'%/) .%(3,'G;) '*%) 29-
#+,#3,+'$2&() #+&) 9%) /2&%) 5+&3+,,:;) 93' (%.6%/) +((2#$+'$2&) E%F4.%((%/) 9:) '*%
>?@AB&%JDJ -%M%B$:M* U%$* &=#=$M)")"B* #C=
#2&6%.($2&)21)4.29+9$,$'$%()'2)2//()$().%- 42$&') %('$5+'%G) 5+:) 9%) #+3(+,;) %6%&) $1
T%>#A#=>#* T$%J:J)H)#@;* 5%* &=#=$M)"=* #C=* T%>#A#=>#
A3$.%/7)B*%)2//()21)/$(%+(%)$()/%0&%/)+( '*%)#2&0/%&#%)$&'%.6+,)$&#,3/%()!7S)+()+
'*%) 4.29+9$,$':) 21) /$(%+(%) /$6$/%/) 9:) ! T$%J:J)H)#@L*&$:b*:*>#$:)BC#*H)"=*#C$%'BC*#C=*T$=A .%(3,')21)+)(5+,,)(+54,%)($K%7!J;QT
5$&3()'*%)4.29+9$,$':)d2//()r)4.29+9$,- #=>#*T$%J:J)H)#@*:"&*#C=*H)?=H)C%%&*$:#)%*:"&*$=:& C+(%-#2&'.2,) ('3/$%() +.%) 3(%/) @*%&
$':OE!)I)4.29+9$,$':Ge7)82.)+)/%0&%/)<.234 #C=*T%>#A#=>#*T$%J:J)H)#@*%"*#C=*$)BC#; '*%) 9+/) 23'#25%) $() .%#2<&$K%/) +&/) '*%
21)$&/$6$/3+,()2.)4+'$%&'(;)$')#+&)+,(2)9% #+3(+'$6%) +<%&') $() &2') :%') /$(#26%.%/7
#+,#3,+'%/)+()'*%).+'$2)21)'*%)&359%.)21 *$('2.$#+,) +&/) 4*:($#+,) %6$/%&#%) ,%+/() + B*%:)+.%)+,(2)3(%/)@*%&)'*%.%)$()+)6%.:
'*2(%)@$'*)/$(%+(%)'2)'*2(%)@$'*23')/$(- #,$&$#$+&) '2) (3(4%#') +) /$+<&2($() 93') '*% ,2&<) '$5%) ,+<) 9%'@%%&) %F42(3.%) +&/
%+(%7) B*3(;) $1) '*%) 4.29+9$,$':) E4.242.- /%<.%%) 21) #%.'+$&':) /2%() &2') %F#%%/) '*% 23'#25%) 2.) @*%&) '*%) 1.%A3%&#:) 21) +/-
'$2&G) 21) +) /$(%+(%) $() S7QS) EQS) 4%.#%&'G; '*.%(*2,/) 12.) %('+9,$(*$&<) +) /$+<&2($(;) + 6%.(%) %6%&'() $() 6%.:) (5+,,7) L&) +) #+(%-
'*%) 2//() 21) '*+') /$(%+(%) +.%) S7QSOE!) I '%(')$()4%.12.5%/)'2).+$(%)'*%)4.29+9$,$': #2&'.2,)('3/:;)4+'$%&'() @$'*) +)/$(%+(%)21
S7QSG;) 2.) S7QSOS7bS;) 2.) !NM7) B*$() .%(3,' '*+')'*%)/$(%+(%)$()4.%(%&')+926%)'*%)#,$- $&'%.%(')+.%)#254+.%/)@$'*)+44.24.$+'%,:
5%+&() '*+') 12.) %6%.:) 4%.(2&) @$'*) '*% &$#$+&h()'*.%(*2,/)12.)+#'$2&7TR (%,%#'%/) #2&'.2,(7) B*%) 2//() 21) %F42(3.%
/$(%+(%;) '*%.%) +.%) 123.) 4%24,%) @$'*23' '2) (3(4%#'%/) %'$2,2<$#) +<%&'() +.%) +(#%.-
'*%)/$(%+(%7)B*%)42('-'%(')2//()+.%)%A3+, '+$&%/)$&)#+(%()+&/)$&)#2&'.2,()E(%%)B+9,%
,c)&="(=*/J%'#*6:$M
'2)'*%)4.%-'%(')2//()'$5%()'*%),$D%,$*22/ Q-UG7)Y%#+,,)'*+')'*%)2//()21)+&)%6%&')+.%
.+'$2) E42('-'%(') 2//() r) 4.%-'%(') 2//() ! B2) 9%) 6+,$/;) ('3/$%() +923') '*%) *+.513, #+,#3,+'%/) +() '*%) .+'$2) 21) '*%) &359%.) 21
,$D%,$*22/) .+'$2G7QT) B*%) 12.53,+) d4.29+- %11%#'() 21) %F42(3.%() (*23,/) $&#,3/%) #2- %6%&'() '2) '*%) &359%.) 21) &2&-%6%&'(7ZS
9$,$':)r)2//(OE2//()u)!Ge)$()3(%/)'2)#2&- *2.'() @$'*) #254+.+9,%) <.234() 21) %F- >6%&'() +.%) %F42(3.%() '2) 42'%&'$+,,:
6%.')2//()9+#D)'2)4.29+9$,$':7 42(%/) +&/) 3&%F42(%/) $&/$6$/3+,(;) 2. *+.513, .$(D)1+#'2.()$&)#+(%-#2&'.2,)('3/-
V*%'*%.) 12.5+,,:)2.)$&12.5+,,:;)4*:- #+(%() +&/) #2&'.2,(=) 29H%#'$6%) 23'#25% $%(7) B*%) 2//() 21) %F42(3.%) +52&<) #+(%(
($#$+&()/%6%,24)'*.%(*2,/()21)#%.'+$&':)+' 5%+(3.%(=) +&/) +/%A3+'%) 12,,2@-347) L& +.%) /$6$/%/) 9:) '*%) 2//() 21) %F42(3.%
2.) +926%) @*$#*) '*%:) +.%) #2512.'+9,% +//$'$2&;) '*%) .%(3,'() (*23,/) 5+D%) #,$&$- +52&<)#2&'.2,()'2)/%.$6%)'*%)2//().+'$2;
@$'*)%('+9,$(*$&<)+)/$+<&2($()+&/)+#'$&< #+,) +&/) 9$2,2<$#) (%&(%7!J;QT) 8%@) /%.5+- @*$#*)$()+)<22/)%('$5+'%)21)'*%).%,+'$6%
2&) '*%) /$+<&2(%(7) X#'$2&) 5+:) '+D%) '*% '2,2<$#)('3/$%()5%%')'*%(%)#.$'%.$+7 .$(D) @*%&) '*%) 23'#25%) E%7<7;) /$(%+(%;
12.5)21)#2553&$#+'$&<)'*%)/$+<&2($()2. L542.'+&') '%.5() +&/) #2&#%4'() '*+' /%+'*G)$().%,+'$6%,:).+.%)E$7%7;)@*%&)$')2#-
4.2<&2($() '2) '*%) 4+'$%&';) 4.%(#.$9$&< 53(') 9%) 3&/%.('22/) '2) /%'%.5$&% #3.()$&)1%@%.)'*+&)U)4%.#%&')21)%F42(%/
'.%+'5%&';)2.).%1%..$&<)'*%)4+'$%&'7)V*%& @*%'*%.) '*%) .%(3,'() 21) +) 4+4%.) +923' (39H%#'(G7) B*%) +((2#$+'$2&) 9%'@%%&) %F-
C=
42(3.%)+&/)23'#25%)$()%F4.%((%/)+()'*% .%42.') .%(3,'() 21) 5%'+-+&+,:(%(;) #2*2.' 4*:($#$+&)(*23,/)(+6%)'*%)+&+,:($()$&)+
2//() .+'$2) $&) #+(%-#2&'.2,) ('3/$%(7) X& ('3/$%(;)+&/).+&/25$K%/)#2&'.2,,%/)'.$+,( 4,+#%)+&/)12.5+')'*+')+,,2@()$')'2)9%
2//().+'$2)21)!)$54,$%()&2)+((2#$+'$2&7)L1 3($&<) 2//() .+'$2(7) ?//() .+'$2() +.%) 3(%/ %+($,:).%'.$%6+9,%)12.)13'3.%)3(%7)V2.D-
'*%)2//().+'$2)$()*$<*%.)'*+&)!;)'*%&)'*% 9%#+3(%) '*%:) *+6%) ('.2&<%.) ('+'$('$#+, (*%%'()12.).%#2./$&<)%6$/%&#%)1.25)4+-
.%(3,') $54,$%() +) 42($'$6%) +((2#$+'$2&) 9%- 4.24%.'$%()'*+&)2'*%.)5%+(3.%(7ZS)82.)%F- 4%.()/%+,$&<)@$'*)/$+<&2($(;)'*%.+4:)+&/
'@%%&) %F42(3.%) +&/) '*%) *+.513,) 23'- +54,%;)2//().+'$2()#+&)'+D%)+&:)6+,3%)9%- 4.%6%&'$2&;)4.2<&2($(;)+&/)*+.5)+.%
#25%7) L1) '*%) 2//() .+'$2) $() ,%(() '*+&) !; '@%%&)S)+&/)$&0&$':;)+.%)(:55%'.$#)$&)+ +6+$,+9,%))E*''4NOO@@@7#%9573'2.2&'27#+O
'*%&) '*%) .%(3,') $54,$%() +) 4.2'%#'$6%) %1- ,2<) (#+,%;) +&/) #+&) 9%) 3(%/) '2) 5+D%) +/- '%+#*O5+'%.$+,(O#+@2.D(*%%'(7*'5G7 QT
1%#') 21) '*%) %F42(3.%7!J;QT) X() &2'%/) %+.- H3('5%&'() 12.) #2&123&/$&<) 1+#'2.() 3(- B*%(% @2.D(*%%'()#+&)9%)(+6%/)%,%#-
,$%.;)$')$()$542.'+&')'2)%6+,3+'%)'*%)6+,$/- $&<) 53,'$4,%) .%<.%(($2&7ZS) \&12.'3&+'%,:; '.2&$#+,,:)2.)0,%/)4*:($#+,,:7
$':) +&/) 4.%#$($2&) 21) '*%) 2//() .+'$2 '*%:)+.%)'*%)5%+(3.%)21)+((2#$+'$2&),%+('
%('$5+'%) 9:) %F+5$&$&<) '*%) RU) 4%.#%&' $&'3$'$6%,:) 3&/%.('22/7) L1) +) 5%'+-+&+,:-
#2&0/%&#%)$&'%.6+,7 ($(;)#2&'.2,,%/)'.$+,;)2.)#2*2.')('3/:)$().%- W,D*.,E,.,-1,3
82.) %F+54,%;) (3442(%) +) #+(%-#2&'.2, 42.'%/)3($&<)2//().+'$2(;)'*%).%,+'$6%).$(D; 5C=*U'HH*$=U=$="(=*H)>#*U%$*:HH*(C:T#=$>*
('3/:)@+()4%.12.5%/)'2)('3/:)'*%).%,+- /$11%.%&#%)$&).%(42&(%).+'%(;)2.)ccB)#+&
)>*:c:)H:JH=*:#*bbb;&)BM[;(%M;*
'$2&(*$4) 9%'@%%&) ,$59) /%12.5$':) +&/ 21'%&) 9%) #+,#3,+'%/) $1) '*%) 4.$5+.:) /+'+
%F42(3.%)'2)'*+,$/25$/%7)B*%).%(3,'()21 +.%) 4.26$/%/7) X,'%.&+'$6%,:;) '*%(%) 52.% Q7 "+#D%'')`i)%')+,N)>6$/%&#%)9+(%/)5%/$-
'*%) ('3/:) $&/$#+'%/) '*+') 4+'$%&'() @$'* .%+/$,:) 3&/%.('+&/+9,%) 5%+(3.%() #+&) 9% #$&%N) V*+') $') $() +&/) @*+') $') $(&h'7) HIB
$%"NZ!;)!RRT
,$59)/%12.5$'$%()@%.%)52.%),$D%,:)'*+& /%.$6%/)$1)'*%)&359%.)21)(39H%#'()$&)%+#*
T7 C2#*.+&%) XN) ;++!14#=!3!--* ,3$* ;+81#!31)7
#2&'.2,()'2)*+6%)9%%&)%F42(%/)'2)'*+,$/- <.234;)2//().+'$2;)+&/)26%.+,,)%6%&').+'% i2&/2&;) Y2:+,) "2#$%':) 21) _%/$#$&%
25$/%)$&)3'%.27) B*%)2//().+'$2) 12.)'*+- +.%)4.26$/%/7 [.%(()i'/;)!RRR
,$/25$/%)%F42(3.%)@+()J7U)+&/)'*%)#2&- Z7 "+#D%'')`i)%')+,N)5'#3#1,'*;"#$!%#&'&()G*C
0/%&#%) $&'%.6+,) @+() 1.25) !7b) '2) T7T7 H,-#1* F1#!31!* +&2* 5'#3#1,'* I!$#1#3!7) a2(-
B*3() '*%) 2//() '*+') 4+'$%&'() @$'*) ,$59 /770D!-+*,V!4,-1,*52* '2&;)i$'',%;)a.2@&)+&/)C254+&:;)!RR!;
37,1!E!1*7/5!,-53 4)MM!
/%12.5$'$%() @%.%) %F42(%/) '2) '*+,$/2- !J7 j.%%&*+,<*)BN)J&K*4&*@!,$*,*7,"!2G*D6!
5$/%) $&) 3'%.2) @%.%) J7U) '$5%() '*%) 2//( X44,:$&<) '*%) %6$/%&#%) '2) '.%+'5%&') 21 H,-#1-* &+* ;=#$!31!* H,-!$* I!$#1#3!7) i2&-
21)'*+,$/25$/%)%F42(3.%)$&)#2&'.2,(7)a%- (4%#$0#) 4+'$%&'() $&62,6%() /%'%.5$&$&< /2&;)a_P)[39,$(*$&<)j.234;)!RRZ;)*''4NOO
@@@7*%+,'*7,$9.+.:75#<$,,7#+O%95O
#+3(%) '*%) 2//() .+'$2) $() <.%+'%.) '*+&) ! @*%'*%.)'*%)%6$/%&#%)1.25)('3/$%()$()+4-
<.%%&*+,<*7*'5;)+##%((%/)X4.$,)Q;)QSSZ
+&/) $'() RU) 4%.#%&') #2&0/%&#%) $&'%.6+, 4,$#+9,%)'2)+)<$6%&)4+'$%&'7)B*$()/%#$($2&)$( QT7 "+#D%'')`)%')+,N);=#$!31!>H,-!$*I!$#1#3!G
/2%() &2') $&#,3/%) !;) '*%) .%(3,') $54,$%() + 9+(%/)2&) '*%) 4+'$%&'h()#2&/$'$2&) +&/)6+,- J&K* 4&* 72,14#1!* ,3$* D!,16* ;HI7) >/$&-
42($'$6%) +((2#$+'$2&) 9%'@%%&) '*+,$/2- 3%(7) L') $&62,6%() +(D$&<) +) (%.$%() 21) A3%(- 93.<*;) C*3.#*$,,) i$6$&<('2&%;) !RRT;) 4
5$/%)3(%)+&/),$59)/%12.5$'$%()&2'),$D%,: '$2&() '*+') +.%) (4%#$0#) '2) '*%) ':4%) 21) %6$- QUS
JZ7 a$<9:)_;)j+/%&&%)X-"N)\&/%.('+&/$&<
'2) *+6%) 9%%&) /3%) '2) .+&/25) %..2.7 /%&#%)9%$&<)#2&($/%.%/)E(%%)B+9,%()Q-J; +&/)%6+,3+'$&<)#,$&$#+,)'.$+,(7)B*C%*C1,$
B*%(%) .%(3,'() E+&) 2//() .+'$2) 21) J7U) +&/ Q-M;)+&/)Q-UG7)V*%&)1+#%/)@$'*)'*%)'+(D ?!2%,4&' $&NUUU;)!RRT
#2&0/%&#%) $&'%.6+,) 21) !7b) '2) T7TG) @%.% 21) /%'%.5$&$&<) @*%'*%.) '*%) .%(3,'() 21) + JR7 c$(9%'') Y;) Y2(() iN) J9%,3* A3+!2!31!G
+#'3+,,:)'*%)0&/$&<()21)+)('3/:)9:)V2,1 4+.'$#3,+.) ('3/:) +.%) +44,$#+9,%) '2) (4%#$0# F42,4!(#!-*,3$*F6&241&%#3(-*&+*F&1#,'*B9$(>
%!347) >&<,%@22/) C,$11(;) cP;) [.%&'$#%-
%') +,7;) @*2) ('3/$%/) '*%) .%,+'$2&(*$4) 9%- 4+'$%&'(;) 4*:($#$+&() (*23,/) /%'%.5$&%
W+,,;)!RbS;)4)JJS
'@%%&)(3&(#.%%&)3(%)+&/)5%,+&25+)$&)+ @*%'*%.)'*%.%)+.%)+&:)#254%,,$&<).%+(2&( MR7 [39_%/) #,$&$#+,) A3%.$%() 3($&<) .%(%+.#*
#+(%-#2&'.2,)('3/:)$&)X3('.$+7Z!)B*%$.).%- '*+') '*%) .%(3,') (*23,/) &2') 9%) +44,$%/7JZ 5%'*2/2,2<:)0,'%.(;)*''4NOO@@@7	$7
(3,'() $&/$#+'%/) '*+') 4+'$%&'() @$'*) 5%,+- X44,:$&<)%6$/%&#%)'2)(4%#$0#)4+'$%&'()+,- &,57&$*7<26O%&'.%KOA3%.:O('+'$#O#,$&$#+,7
&25+)@%.%)52.%),$D%,:)'*+&)#2&'.2,()'2 @+:()$&62,6%()4*:($#$+&)H3/<5%&'7 (*'5,;)+##%((%/)P+&3+.:)QSSU
UQ7 W$<<$&() P[B;) j.%%&) ";) %/(7N) C2#*.+&%
*+6%)3(%/)(3&(#.%%&)21'%&7)B2)$&1%.)#+3- *+&/922D)12.)(:('%5+'$#).%6$%@()21)$&'%.-
(+,$':) $') $() $542.'+&') '2) +((%(() @*%'*%. 6%&'$2&()M7Q7T)d34/+'%/)"%4'%59%.)QSSTe;
'*%) .%(3,'() #23,/) *+6%) 2##3..%/) 1.25 3/V!-+*56,*1.!5!1/0*/77./!3/0* *''4NOO@@@7#2#*.+&%72.<O.%(23.#%(O
9$+()+&/)@*%'*%.)'*%).%(3,'()+.%)9$2,2<$- 2E*56,*,V!4,-1, *+&/922DO*922D7*'5;) +##%((%/) _+.#*
QR;)QSSZ
#+,,:)4,+3($9,%7 ?&#%)'*%)4*:($#$+&)*+()5+/%)'*%)%112.'
TJ7 j+./&%.)_P;)X,'5+&)`j;)%/$'2.(N)F4,4#->
B2) +//) #2&13($2&) '2) +&) +,.%+/:) /$10- '2)+(D)+)#,$&$#+,)A3%('$2&;)0&/)'*%)9%(' 4#1-* K#46* 5&38$!31!<) Q&/) %/7) i2&/2&;
#3,') +.%+;) #,$&$#+,) .%(%+.#*%.() @$,,) 21'%& %6$/%&#%;)+&/)#.$'$#+,,:)+44.+$(%)$';)'*% a.$'$(*)_%/$#+,)P23.&+,;)QSSU
JC
!"#$%&'()%#*+)*+#,*'--.%-)/+%0-'*1%
!"#$%&'( !""#$!%&'($'
! )*#+!($,$-.%').!-/$0.0
&+,:)*+,-.$/+/B)C&)+/),:/$)+15$0&,.&)&$);/%
%&!"(*#'1 /&,.*,0*) *%01,&$:$-+3) &%01+.$:$-6) 2$0
3$./+/&%.36) +.) 3:+.+3,:) *$3;1%.&,&+$.=
0F./',*0.$/0'
#$%&'$&%()*+)#,-.) +.)0%/%,03'=),.*)+.)3$11;.+3,&+$.)A+&'
$&'%0)5'6/+3+,./B
!/)').!-/$0.0
/(0-*.0)1.2) ('%) 50$3%//) $2) %<,1+.+.-) ,.*) *%7
/30+9+.-) /4+.) :%/+$./) 1,6) 9%) :+4%.%*) &$
!('!'-,!/%*'
&',&) $2) @+%A+.-) ,) 5,+.&+.-B) J+0/&=) $.%
3&.214(.$150)*+) /&,.*/) 9,34) ,.*) &,4%/) +.) &'%) A'$:%
!'G543:<4'5<B'4AE6EH7A'5GG6E5IA'4E'4A:'
:;5JH543E<'B:I6:5D:D'4A:'63D8'E>'2583<7'
E3,.@,/=F) ,.,:$-$;/) &$) @+%A+.-) &'%) 5,7
65-.-'15)7-18.*0-0 &+%.&)20$1),)2%A)2%%&),A,6),&)A'+3')*+/7
5<'3<IE66:I4'B357<ED3D'E6'E;:6JEE83<7'
5<E4A:6'B357<ED3D9
&,.3%) ,.) $@%0,::) ,//%//1%.&) $2) &'%) 5,7
!234'-567 &+%.&8/) -%.%0,:) ,.*) 3;&,.%$;/) '%,:&' F<EKJ:B7:'5<B'5GG6EG6354:'HD:'E>'
/3883'!9',:;3< 1,6)9%)1,*%B)H.%)1,6).$&%)/;3')G.*7 B:6254EJE7?'4:623<EJE7?'56:'>H<B5L
+.-/) ,/) /4+.) 3$:$0) ,.*) &;0-$0=) 50%/%.3% 2:<45J9
=:>>6:?')9'@:6<A56B
$2) 5,::$0) $0) K,;.*+3%=) *%-0%%) $2) /;. #:IE7<343E<'E>'B3D:5D:'G544:6<D'6:MH36:D'
*,1,-%=),.*)&'%)$@%0,::).;19%0),.*):$7 6:G:54:B'G543:<4':<IEH<4:6D9
!"#$% &'% ()'$% *&+,-./$% )+% #//0% 1$% &' 3,&+$.)$2):%/+$./B)L%<&=)$.%):$$4/)1$0% (A:'A3D4E6?'3D'3<B3DG:<D5NJ:'3<':JHI3B543<7'
2"#$% #334#5'% ()'$% '&(3/46% 7)% '44 3:$/%:6) ,&) &'%) E&0%%/F) $0) E1$;.&,+./F IE2GJ:O'B357<ED:D9
2&$"% 8).5% 484'% 2"#$% /&4'% &9%+5)9$% )+ &',&) 1,4%) ;5) &'%) :,.*/3,5%=) ,.,:$-$;/
(A:':<436:'2HIEIH45<:EHD'DH6>5I:P'5D'
8).5%484': &$) *%/30+9+.-) ,.*) 3,&%-$0+>+.-) &'%) /5%7
K:JJ'5D'4A:'A536'5<B'<53JDP'DAEHJB'N:'
"#$%&'% 3+G3) :%/+$./) $.) &'%) 5,&+%.&B) J+.,::6=) $.%
:O523<:B'KA:<:;:6'6:5DE<5NJ:9
1,6) 3:$/%:6) %<,1+.%) &'%) *%&,+:/) $2) &'%
3,.@,/=)&,4+.-)+.)&'%)&%<&;0%),.*)90;/'7 +E6GAEJE73I'IA565I4:63D43ID'B:63;:B'
(&*'!#('$C').!-/$0.0 /&0$4%/=) ,.,:$-$;/) &$) ;/+.-) 1,-.+G3,7 >6E2'I:JJ'4?G:'3<'D83<'2HD4'N:'I56:>HJJ?'
&+$.) &$) /%%) &'%) 9$0*%0/) $2) ,) .%@;/) $0 DI6H43<3Q:B9
('%)*+,-.$/+/),.*)&0%,&1%.&)$2)*+/%,/%/ 3$150%//+.-) ,) :%/+$.) &$) /%%) +2) +& )3D:5D:D'A5;:'IA565I4:63D43I'2E6GAEJE7?'
&',&) ,22%3&) &'%) /4+.) 0%/&) $.) &'%) 5'6/+7 9:,.3'%/B) M;/&) ,/) ,) 4.$A:%*-%,9:% 5<B'B3D463NH43E<9
3+,.8/) ,9+:+&6) &$) ;/%) &'%) :%<+3$.) $2) *%07 @+%A%0) $2) ,0&) 1,6) 0%3$-.+>%) ,)A$04) $2
1,&$:$-6=)&$)0%3$-.+>%)&'%)9,/+3),.*)/%7 %E22E<'G34>5JJD'3<'B:6254EJE73I'B357<EL
#%$0-%/) N%;0,&) 96) +&/) &+.6=) *$&7:+4% D3D':O3D4'5<B'I5<'N:'5;E3B:B9
?;%.&+,:) :%/+$./) $2) &'%) /4+.=) ,.*) &$ 90;/') /&0$4%/=) ,.) %<5%0+%.3%*) $9/%0@%0
0%3$-.+>%)&'%)@,0+$;/)5,&&%0./)+.)A'+3' $2) &'%) /4+.) 3,.) 0%3$-.+>%) ,) 1%:,.$1,
&'%6) $33;0) +.) ,) @,0+%&6) $2) *+/%,/%/) ,.* 96)+&/),/611%&06=)+00%-;:,0)9$0*%0/),.* 1,6) 9%) 30;3+,:B) O%01,&$:$-+/&/) @,06) +.
/6.*0$1%/B)C.)&'+/)3',5&%0=)A%)*+/3;//), 1;:&+5:%)3$:$0/B)('+/)3',5&%0),+1/)&$)+.7 A'%&'%0) &'%6) 50%2%0) &$) &,4%) ,) '+/&$06
2;.*,1%.&,:) ,550$,3') &$) &'%) 5,&+%.& &0$*;3%)&'%)0%,*%0)&$)&'%),0&),.*)/3+%.3% 9%2$0%=) *;0+.-=) $0) ,2&%0) 5%02$01+.-) ,
50%/%.&+.-)A+&'),)/4+.)50$9:%1B)D%)+.7 $2)*%01,&$:$-+3)*+,-.$/+/B 5'6/+3,:)%<,1+.,&+$.B)C.)50,3&+3%=)1,.6
&0$*;3%)&'%)&%3'.+3,:)@$3,9;:,06)$2)*%07
5%02$01) ,) 90+%2) %<,1+.,&+$.) +.+&+,::6=
1,&$:$-+3)*%/30+5&+$.=)&'%)E*%01,&$:$-6
!""#$!%&'($'(&*'"!(.*/( $9&,+.) /$1%) '+/&$06=) &'%.) 0%&;0.) &$) ,
:%<+3$.F",) /%&) $2) &%01/) &',&) *%.$&%
1$0%)2$3;/%*)%<,1+.,&+$.B
&65%/) $2) /4+.) :%/+$./B) C&) +/) +15$0&,.&) &$
&3D4E6? J$0) &'%) 2$::$A+.-) 0%,/$./=) +&) +/) $2&%.
4.$A) ,.*) ;/%) &'+/) /&,.*,0*) &%01+.$:7
;/%2;:)&$),&):%,/&)90+%I6)%<,1+.%)&'%)5,7
$-6=),/)+&)+/)&'%)G0/&)/&%5)+.)-%.%0,&+.- O%01,&$:$-6) +/) ,) @+/;,:) /5%3+,:&6=) ,.*
&+%.&)9%2$0%)&,4+.-),):%.-&'6)'+/&$06P
,) *+22%0%.&+,:) *+,-.$/+/B) H.3%) ,) :%/+$. /$1%)/4+.):%/+$./)1,6)9%)*+,-.$/%*),&),
',/) 9%%.) *%/30+9%*) ,/) ,) 5%,0:6=) I%/'7 -:,.3%B) L$.%&'%:%//=) &'%) '+/&$06) +/) +17 Q R%0&,+.)/4+.)3$.*+&+$./=)/;3'),/)3:,/7
3$:$0%*=)&%:,.-+%3&,&+3=);:3%0,&%*).$*;:%= 5$0&,.&) ,.*) +.) 3$15:%<) 3,/%/=) /;3') ,/ /+3) 5:,?;%7&65%) 5/$0+,/+/) $0) 1$::;/7
&'%) %<5%0+%.3%*) 5'6/+3+,.) 5;&/) 9,/,: &'%) 5,&+%.&) A+&') 0,/') ,.*) 2%@%0) $0) &'% 3;1)3$.&,-+$/;1=)2$0)%<,15:%=)50%/%.&
3%::)3,03+.$1,),&)&'%)&$5)$2)&'%)*+22%0%.7 5,&+%.&) A+&') -%.%0,:+>%*) 50;0+&;/=) +& A+&') /;3') *+/&+.3&+@%) 1$05'$:$-+%/
!"
!"#$%&'()* *+,,-*.$*/(0*123%4567&88*!"9#4:&0;<*=:2>*!8&2?*(0%0*@"%*)0%9;*"@*A;0>
!"#$%&'()
!""#$%&'()$(*+#,%)$-$./&(*/%.0$1/1%(
R .<3435J'IJ3<3I5J'32G6:DD3E<S')E:D'4A:'G543:<4'5GG:56'3JJT R #:;3:K'E>'D?D4:2D'5D'3<B3I54:B'N?'IJ3<3I5J'D34H543E<P'K34A'G5643IHJ56'
R "A?D3I5J':O523<543E<S'B:453J:B':O523<543E<'E>'4A:'D83<P'A536P'<53JDP'5<B' 544:<43E<'4E'D?2G4E2D'3<B3I543<7'5'GEDD3NJ:'IE<<:I43E<'N:4K::<'IH45L
2HIEHD'2:2N65<:D <:EHD'D37<D'5<B'B3D:5D:'E>'E4A:6'E675<'D?D4:2D'U:979P'6A:H2543I'IE2L
R CEH6'I56B3<5J'>:54H6:D GJ53<4DS'2?5J735DP'564A65J735DP'#5?<5HB'GA:<E2:<E<P'D3II5'D?2G4E2DV
R (?G:'E>'J:D3E<S'25IHJ:P'G5GHJ:P'<EBHJ:P';:D3IJ:P':4I9'UD::'(5NJ:'1LWV R #:;3:K'E>'D?D4:2D'>E6'76EK4AD'DHDG3I3EHD'>E6P'E6'5DDEI354:B'K34AP'25J37L
R 0A5G:'E>'3<B3;3BH5J'J:D3E<DS'5<<HJ56P'363DP'56I3>E62P'J3<:56P'6EH<BP'E;5JP' <5<I?S'G5643IHJ56'544:<43E<'4E'D?2G4E2D'E>'2:45D45D3D'UK:37A4'JEDDP'
H2N3J3I54:BP':4I9 >:;:6DP'IA3JJDP'<37A4'DK:54DP'A:5B5IA:P'DKEJJ:<'7J5<BDP'5NBE23<5J'G53<P'
R !665<7:2:<4'E>'2HJ43GJ:'J:D3E<DS'3DEJ54:BP'DI544:6:BP'76EHG:BP'J3<:56P'A:6L 5N<E625J'D4EEJ3<7P'NE<:'G53<P':4I9V
G:43>E62P'QED4:63>E62P':4I9 R +:B3I543E<'A3D4E6?S'5JJ:67?X'5JJ'G6:DI63G43E<P'<E<G6:DI63G43E<P'5<B'YIE2L
R )3D463NH43E<'UN:'DH6:'4E':O523<:'DI5JGP'2EH4AP'G5J2DP'5<B'DEJ:DV GJ:2:<456?Z'2:B3I543E<DP'K34A'G5643IHJ56'544:<43E<'4E'4AED:'4A54'4:2GEL
R *O4:<4'E>'3<;EJ;:2:<4S'I36IH2DI63N:BP'6:73E<5JP'7:<:65J3Q:BP'H<3;:6D5JT' 65JJ?'IE66:DGE<B'4E'4A:'E<D:4'E>'4A:':6HG43E<
[A54'G:6I:<457:'E>'4A:'NEB?'DH6>5I:'3D'3<;EJ;:BT R "5D4'2:B3I5J'A3D4E6?
R "544:6<S'D?22:46?P':OGED:B'56:5DP'D34:D'E>'G6:DDH6:P'3<4:646373<EHD'56:5DT R .JJ<:DD:D
R %A565I4:63D43I'JEI543E<DS'\:OH65JP':O4:<DE6P'3<4:646373<EHDP'7J5N6EHDP'G5J2D' R $G:6543E<D
5<B'DEJ:DP'B:6254E25JP'46H<8P'JEK:6':O46:2343:DP':OGED:B'56:5DP':4I9T R !4EG3I'A3D4E6?'U5D4A25P'A5?'>:;:6P':IQ:25V
R (A6::'25]E6'IA565I4:63D43ID R C523J?'2:B3I5J'A3D4E6?P'G5643IHJ56J?'E>'D83<'B3DE6B:6D'5<B'E>'54EG?
R %EJE6'UD::'(5NJ:'1L^V R C523J?'A3D4E6?'E>'D83<P'E6'E4A:6P'I5<I:6D
_'.>'B3>>HD:S'6:BP'N6EK<P'765?LNJH:P'KA34:P'NJH:P'E65<7:L?:JJEKP':4I9X'3>' R 0EI35J'A3D4E6?'K34A'G5643IHJ56'6:>:6:<I:'4E'EIIHG543E<P'AENN3:DP'DH<'
I36IH2DI63N:BS'6:BP';3EJ5I:EHDP'E65<7:P'?:JJEKP'J3J5IP'J3;3BP'N6EK<P' :OGEDH6:P'G:4':OGEDH6:P'4EN5IIE'D2E83<7P'5JIEAEJ'IE<DH2G43E<P'6:I6:L
NJ5I8P'NJH:P'765?P'KA34:P':4I9 543E<5J'B6H7DP'465;:JP'D:OH5J'E63:<4543E<'5<B':OGEDH6:D
_')E:D'4A:'IEJE6'NJ5<IA'K34A'G6:DDH6:'UB35DIEG?'4:D4VT R ,5NE654E6?'D4HB3:D
_'[EEB`D'J52G':O523<543E<'E>'G372:<456?'5J4:6543E<DS'.D'IE<465D4' R 0G:I35J'G6EI:BH6:D'5D'B:4:623<:B'N?'4A:'3<B3;3BH5J'IJ3<3I5J'D34H5L
:<A5<I:BT 43E<'UD::'%A5G9'aV
R %E<D3D4:<I?'5<B'>::J'E>'J:D3E<S'DE>4P'BEH7A?P'b62P'A56BP'Y3<bJ4654:BPZ' R ):6254EDIEG?
B6?P'2E3D4P'2EN3J:P'4:<B:6P'K562T R &5<B'J:<D'E6'c!'JEHG:'257<3bI543E<'>E6'3B:<43>?3<7'DG:I3bI'>:54H6:D
R !<54E23I'IE2GE<:<4D'E>'4A:'D83<'G632563J?'5>>:I4:BS'.D'4A:'G6EI:DD':G3B:6L R @3EGD?'>E6'A3D4EG54AEJE73I'5<B'E4A:6'5<5J?D:D'U:979P':J:I46E<'
25JP'B:625JP'DHNIH45<:EHDP'5GG:<B57:5JP'E6'5'IE2N3<543E<'E>'4A:D:T 23I6EDIEG?P'322H<E\HE6:DI:<I:P'DG:I35J'D453<DV'3>'3<B3I54:B
R -:<:65J'GA?D3I5J':O523<543E<'5D'3<B3I54:B'N?'4A:'IJ3<3I5J'G6:D:<4543E<'5<B' R (3DDH:'4E'N:'23<I:B'>E6'N5I4:635J'5<B'>H<75J'IHJ4H6:D
B3>>:6:<435J'B357<ED3DP'K34A'G5643IHJ56'544:<43E<'4E';345J'D37<DP'J?2GA5B:<EG5L R -652'D453<D'E>'I6HD4P'DI5J:P'E6':OHB54:D
4A?P'A:G54E2:75J?P'DGJ:<E2:75J?P']E3<4DP':4I9 R "E45DD3H2'A?B6EO3B:'G6:G56543E<'>E6'?:5D4'E6'>H<73
R &3D4E6?'E>'5'65DA9'F:?'MH:D43E<DS R %?4EJE73I'G6:G56543E<'U(Q5<I8'D2:56V'3<';:D3IHJ56'5<B'NHJJEHD'
R [A:<'B3B'34'D4564T :6HG43E<D
R )E:D'34'34IAP'NH6<P'E6'AH64T R 0K5N'>E6'N5I4:635JP';365JP'5<B'>H<75J'IHJ4H6:D
R [A:6:'E<'4A:'NEB?'B3B'34'D4564T R [EEB`D'J52G':O523<543E<'E>'H63<:'>E6'GE6GA?63<D'5<B'E>'A536'
R &EK'A5D'34'DG6:5B'UG544:6<'E>'DG6:5BVT 5<B'D83<'>E6'\HE6:DI:<I:'E6'>E6'IA5<7:D'3<'G372:<4543E<
R &EK'A5;:'3<B3;3BH5J'J:D3E<D'IA5<7:B'U:;EJH43E<VT R $3J'2EH<4'G6:G56543E<'E>'DI65G3<7'>E6'DI5N3:D'234:
R "6E;EI543;:'>5I4E6DT R "54IA'4:D43<7'>E6'5JJ:673I'IE<45I4'B:6254343D
R "6:;3EHD'46:542:<4D'5<B'6:DGE<D:T R -:<:65JS'A:254EJE7?P'IA:23D46?P'H63<5J?D3DP'D:6EJE73I'4:D4D'U:979P'
R &3D4E6?'E>'5'76EK4A9'F:?'MH:D43E<DS D?GA3J3DP'5<43<HIJ:56'5<43NEB?VP'32573<7'D4HB3:DP'5<B'E4A:6D'5D'
R &EK'JE<7'A5D'4A:'J:D3E<'N::<'G6:D:<4T 3<B3I54:B'N?'4A:'G6:D:<4543E<
R &5D'34'IA5<7:BP'76EK<P'NJ:BP'34IA:BP'E6'>53J:B'4E'A:5JT R C3<5J'B357<ED3DS'6:L:O523<543E<'E;:6'432:'5<B'2E6:'4A5<'E<:'N3EGD?'
R -:<:65J'A3D4E6?'E>'G6:D:<4'3JJ<:DD'5D'3<B3I54:B'N?'IJ3<3I5J'D34H543E<P'K34A'G56L 25?'N:'6:MH36:B'>E6'B:b<343;:'B357<ED3D
43IHJ56'544:<43E<'4E'IE<D434H43E<5J'5<B'G6EB6E25J'D?2G4E2D'
R !IH4:'3JJ<:DD'D?<B6E2:'U>:;:6P'DK:54DP'IA3JJDP'A:5B5IA:P'<5HD:5P';E234L
3<7P'IEH7AP'6H<<?'<ED:P':4I9VT
R %A6E<3I'3JJ<:DD'D?<B6E2:'U>5437H:P'5<E6:O35P'K:37A4'JEDDP'25J53D:VT
5(A3D'5GG6E5IA'K5D'B:;:JEG:B'N?'(AE25D'@9'C34QG5463I8P'=:>>6:?')9'@:6<A56BP'5<B'&56J:?'!9'&5?<:D9'.4'A5D'N::<'2EB3b:B'N?'!234'-567P'/3883',:;3<P'5<B'=:>>6:?'
)9'@:6<A56B9
&',&) &'%) *+,-.$/+/) 1,6) 9%) +11%*+7 Q C.)3%0&,+.)/+&;,&+$./=)/;3'),/)&'%)%@,:7 *+,-.$/+/=) A+&') ,) /%3$.*,06) -$,:) $2
,&%:6)$9@+$;/=)0%.*%0+.-)%<&%./+@%)'+/7 ;,&+$.)$2),:$5%3+,=)+.+&+,:)%<,1+.,&+$. %@,:;,&+.-) &'%) 5,&+%.&) ,/) ,) 3,.*+*,&%
&$06)&,4+.-);..%3%//,06B $2)&'%)5,&+%.&)&$)*%&%01+.%)A',&)&65% 2$0)&'%0,56B)C.)5,&+%.&/)A'$/%)*+,-.$/+/
Q S)5,&+%.&8/)'+/&$06)1,6)3$.&,+.)E0%* $2)',+0):$//)+/)50%/%.&),::$A/)&'%)5'67 +/) ,:0%,*6) %/&,9:+/'%*=) &'%) 5'6/+3+,.8/
'%00+.-/=F) A'+3') :%,*) &'%) 5'6/+3+,. /+3+,.) &$) 5;0/;%) ,) :+.%) $2) ?;%/&+$./ -$,:/) ,0%) &$) 0%7%@,:;,&%) &'%) $0+-+.,:) *+7
,A,6) 20$1=) 0,&'%0) &',.) &$A,0*=) &'% 5%0&+.%.&)&$)&',&)&65%)$2),:$5%3+,B) ,-.$/+/=) 1$.+&$0) *+/%,/%) 50$-0%//) ,.*
3$00%3&)*+,-.$/+/B)T<,1+.,&+$.)$2)&'% 3$15:+3,&+$./=) ,.*) 1$*+26) &0%,&1%.&
5,&+%.&) 9%2$0%) &,4+.-) ,) '+/&$06) 1,6 C.)&,4+.-),)'+/&$06)20$1),)5,&+%.&)50%7 ,33$0*+.-:6B) (,9:%) U7V) +/) ,) -;+*%) ;/%2;:
6+%:*),)1$0%)3$15:%&%),.*);.9+,/%* /%.&+.-)A+&'),).%A)/4+.)3$15:,+.&=)&'% +.) %@,:;,&+.-) ,) 5,&+%.&) A+&') ,) 0,/') $0
*+22%0%.&+,:)*+,-.$/+/B) 5'6/+3+,.8/)50+1,06)-$,:)+/)&$)%/&,9:+/'), -0$A&'B)('%)&,9:%)+/).$&),.),:-$0+&'1+3
!9
1%&'$*) $2) ,00+@+.-) ,&) ,) *+,-.$/+/B 5,&+%.&B) \.*%0/&,.*,9:6=) 5,&+%.&/) 1,6 &+$;/)3$.*+&+$.)Y/%3$.*,06)/65'+:+/Z)+/
W,&'%0=)+&)+/)1%,.&)&$)50$@+*%)&'%):%,0.%0 *%3:+.%) ,) 2;::) %<,1+.,&+$.) A'%.) &'%+0 /;/5%3&%*=) A'%.) %<,1+.+.-) 1;3;/
A+&') ,) 2;.*,1%.&,:) ,.*) -%.%0,:) ,57 3'+%2)3$15:,+.&)+/)0%:,&+@%:6)1+.$0)$0):$7 1%190,.%/=)@;:@,0),.*)-%.+&,:),0%,/=
50$,3')&$)*+,-.$/+.-),.);.4.$A.B) 3,:+>%*=)/;3'),/),)A,0&)$0),3.%B)C.)$&'%0 ,.*)A'%.)5%02$01+.-),.6)50$3%*;0%B
3,/%/=)5,&+%.&/)1,6)%<50%//)0%/+/&,.3%)&$ Q S)0;:%0)2$0)1%,/;0+.-):%/+$./B
*O523<543E<'E>'4A:' *+/0$9+.-) 2$0) ,) 2;::) %<,1+.,&+$.) *;%) &$ Q L;19%0) V]) ,.*) .;19%0) VV) /3,:5%:
%19,00,//1%.&=) %/5%3+,::6) A'%.) &'% 9:,*%/)2$0)/30,5+.-)$0)+.3+/+.-):%/+$./=
):6254EJE73I'"543:<4 5'6/+3+,.) +/) $2) &'%) $55$/+&%) -%.*%0B 0%/5%3&+@%:6B
#6;<=) ;3) >?=) 6;@</=>=) 6A>BC=;A# N$1%&+1%/) &'%) 5'6/+3+,.) +/) ;.3$12$0&7 Q S) 3,1%0,) 2$0) 5'$&$-0,5'+3) *$3;7
=DB@ECB>E;C ('%) 3$15:%&%) 3;&,.%$;/ ,9:%)5%02$01+.-),)3$15:%&%)/4+.)%<,1+7 1%.&,&+$.B
%<,1+.,&+$.) +.3:;*%/) +./5%3&+$.) $2) &'% .,&+$.) A+&') &'%) 3$.3%0.) &',&) ,) 5,&+%.& Q S) D$$*8/) :,15) Y^_]) .1Z) 2$0) '+-'7
%.&+0%)/4+.)/;02,3%=)+.3:;*+.-)$2&%.7$@%07 1,6) 1+/+.&%050%&) &'%) %<,1+.,&+$.) ,/ :+-'&+.-)/;9&:%)5+-1%.&,06)3',.-%/B
:$$4%*) ,0%,/) /;3') ,/) &'%) /3,:5=) %6%:+*/= +150$5%0B) C.)1,.6)+./&,.3%/=)&+1%)3$.7
%,0/=) -%.+&,:/=) 9;&&$34/=) 5%0+.%,:) ,0%,= /&0,+.&/),.*):,34)$2)5%0/$..%:)&$)/%0@%),/ >=6?CEKA=) ;3) >?=) 7=H@B>;/;GE6) <?L#EM
,.*)+.&%0*+-+&,:)/5,3%/X)&'%)',+0X)&'%).,+:/X 3',5%0$.%/) :+1+&) &'%) ,9+:+&6) &$) 5%02$01 6B/)=DB@ECB>E;C M;/&),/)&'%0%)+/).$)$.%
,.*)&'%)1;3;/)1%190,.%/)$2)&'%)1$;&'= 2;::)/4+.)%<,1+.,&+$.B 3$00%3&)A,6)&$)5%02$01),)-%.%0,:)5'6/+7
%6%/=),.;/=),.*)-%.+&,:/B)C.)0$;&+.%)3:+.+7 3,:) %<,1+.,&+$.=) %,3') 5'6/+3+,.) ,57
3,:)50,3&+3%=).$&),::)$2)&'%/%),0%,/),0%)%<7 E7=B/) 6;C7E>E;C#) 3;H) >?=) 6;@</=>= 50$,3'%/)&'%)3$15:%&%)/4+.)%<,1+.,&+$.
,1+.%*) ;.:%//) &'%0%) +/) ,) /5%3+G3) 0%,/$. #JEC)=DB@ECB>E;C S) 3$15:%&%) /4+.) %<7 A+&') '+/) $0) '%0) $A.) /&6:%B) S) 3$11$.
&$)*$)/$=)/;3'),/),)'+/&$06)$2)1%:,.$1, ,1+.,&+$.) +/) 1$/&) %22%3&+@%) A'%.) 5%07 &'0%,*)&$)%22%3&+@%)/&6:%/)$2)/4+.)%<,1+7
$0),)5,0&+3;:,0):$3,:+>+.-)3$15:,+.&B 2$01%*);.*%0)+*%,:)3$.*+&+$./B)C&)+/)1$/& .,&+$.)+/)3$./+/&%.36)+.)&'%)$0*%0)$2)%<7
+15$0&,.&) &$) ',@%) %<3%::%.&) :+-'&+.-= ,1+.+.-) *+22%0%.&) 9$*6) ,0%,/) &$) %./;0%
B7FBC>BG=#)>;)<=H3;H@ECG)B)6;@</=>= 50%2%0,9:6) 90+-'&=) %@%.) :+-'&) &',&) /+1;7 &',&) .$) ,0%,/) ,0%) $@%0:$$4%*B) H.%) ,57
6A>BC=;A#)=DB@ECB>E;C S:&'$;-') +&) +/ :,&%/) &'%) /$:,0) /5%3&0;1B) D+&'$;&) -$$* 50$,3') &$) &'%) 3$15:%&%) /4+.) %<,1+.,7
.$&),:A,6/)%//%.&+,:)$0)50,3&+3,:)&$)5%07 :+-'&+.-=) /;9&:%) 9;&) +15$0&,.&) *%&,+:/ &+$.)+/)50%/%.&%*)'%0%B)J+0/&=)$9/%0@%)&'%
2$01) ,) 3$15:%&%) /4+.) %<,1+.,&+$.= 1,6) 9%) 1+//%*B) ('%) 5,&+%.&) /'$;:*) 9% 5,&+%.&),&),)*+/&,.3%)2$0)-%.%0,:)+150%/7
&'%0%),0%)1,.6),*@,.&,-%/)&$)*$+.-)/$= 2;::6) ;.*0%//%*=) A%,0+.-) $.:6) ,) -$A. /+$./) Y%B-B=) ,/611%&06) *;%) &$) ,) /&0$4%=
%/5%3+,::6) 2$0) .%A) 5,&+%.&/) ,.*) 3',:7 &',&) +/) %,/+:6) 1$@%*) ,/+*%=) A+&') ,) /'%%& $9%/+&6=) 5,::$0=) 2,&+-;%=) K,;.*+3%ZB) L%<&=
:%.-+.-)3,/%/P) $@%0) &'%) :%-/=) +2) *%/+0%*B) \.*%0A%,0= %<,1+.%) &'%) 5,&+%.&) +.) ,) /6/&%1,&+3
/$34/=) ,.*) /'$%/)/'$;:*)9%)0%1$@%*=),/ A,6=);/;,::6)20$1)'%,*)&$)&$%=);.3$@%07
Q C*%.&+G3,&+$.) $2) 5$&%.&+,::6) ',012;: /'$;:*) ,.6) 1,4%;5) $0) %6%-:,//%/B) ('% +.-) $.%) ,0%,) ,&) ,) &+1%) &$) 50%/%0@%) 5,7
:%/+$./) Y%B-B=) /4+.) 3,.3%0/Z) $2) A'+3' %<,1+.+.-)&,9:%)/'$;:*)9%),&),)3$12$0&7 &+%.&) 1$*%/&6B) `$@%) &'%) 5,&+%.&) Y%B-B=
&'%) 5,&+%.&) +/) ;.,A,0%X) ,.6) 5,&+%.& ,9:%)'%+-'&=)A+&'),)'%,*)&',&)0%3:+.%/=),. 20$1) /+&&+.-) &$) :6+.-Z) ,.*) &'%) +::;1+.,7
A+&') ,) '+/&$06) $2) /4+.) 3,.3%0) $0) , %<&%.*,9:%)2$$&0%/&=),.*)-6.%3$:$-+3)/&+07 &+$.),/).%%*%*)2$0)&'%)9%/&)@+%A)$2)%,3'
3'+%2) 3$15:,+.&) $2) ,) E.%A) -0$A&'F 0;5/B)('%)%<,1+.+.-)0$$1)/'$;:*)9%),&), 9$*6) ,0%,B) [,:5,&%) -0$A&'/) &$) *%&%07
*%/%0@%/),)2;::)/4+.)%<,1+.,&+$.B 3$12$0&,9:%) &%15%0,&;0%) 2$0) &'%) :+-'&:6 1+.%)A'%&'%0)&'%6),0%)/$2&=)I%/'6=)G01=
Q C*%.&+G3,&+$.) $2) 9%.+-.) :%/+$./) Y%B-B= *0%//%*) 5,&+%.&B)C&) /'$;:*) 3$.&,+.) ,) /+.4 &%.*%0=) $0) I;+*7G::%*B) \/%) $2) &'%) ',.*/
/%9$00'%+3) 4%0,&$/%/=) ,.-+$4%0,&$7 2$0) ',.*) A,/'+.-) ,.*) *+/+.2%3&+.-) ',.* &$)/&0%&3')&'%)/4+.)+/)%/5%3+,::6);/%2;:)+.
1,/Z)&',&)&'%)5,&+%.&)A,/)3$.3%0.%* 2$,1=),/)5,&+%.&/),0%)0%,//;0%*)96)/%%+.- *+,-.$/+/) $2) 9,/,:) 3%::) 3,03+.$1,=) +.
,9$;&) 9;&) 0%:;3&,.&) &$) 1%.&+$.= &'%+0) 5'6/+3+,.) A,/') ',.*/) 9%2$0%) &'% A'+3')/&0%&3'+.-)/4+.)0%@%,:/),)E5%,0:6F
&'%0%96) %.,9:+.-) &'%) 5'6/+3+,.) &$ %<,1+.,&+$.B)C2)&'%)5,&+%.&),.*)5'6/+3+,. ?;,:+&6)$2&%.).$&)/%%.)$.)0$;&+.%)+./5%37
50$@+*%)0%,//;0,.3%B) ,0%)$2)$55$/+&%)-%.*%0/=)',@+.-),)3',5%07 &+$.B) S) 1,-.+G%0) A$0.) $.) &'%) '%,*
Q J+.*+.-) '+**%.) 3:;%/) &$) *+,-.$/+/ $.%)+.)&'%)0$$1)3,.)1,4%)&'%)%<,1+.,7 :%,@%/) 9$&') ',.*/) 20%%) 2$0) 5,:5,&+$.) $2
Y%B-B=) /3,9+%/) :%/+$./) $.) &'%) 5%.+/= &+$.)1$0%)3$12$0&,9:%)2$0)9$&'B :%/+$./B) R%0&,+.) :%/+$./=) /;3') ,/) 5$0$7
5/$0+,&+3) 5:,?;%/) $.) &'%) 9;&&$34/= 4%0,&$/+/=) ,0%) 9%/&) %<,1+.%*) A+&') /+*%
D+34',1) /&0+,%) $2) :+3'%.) 5:,.;/) $. H=6;@@=C7=7)>;;/#)3;H)>?=)6;@</=>= :+-'&+.-) &',&) 0%@%,:/) *%5&') ,.*) &'%) *%7
&'%)9;33,:)1;3$/,=).,+:)5+&&+.-)+.),:$7 #JEC)=DB@ECB>E;C S:&'$;-') &'%) 5'6/+7 &,+:/) $2) 9$0*%0/B) O;0+.-) &'%) %<,1+.,7
5%3+,),0%,&,ZB 3+,.8/) %6%/) ,.*) ',.*/) ,0%) &'%) $.:6) %/7 &+$.=)5,&+%.&/)$2&%.)G.*)+&)0%,//;0+.-)2$0
Q H55$0&;.+&6) 2$0) 5,&+%.&) %*;3,&+$. /%.&+,:)&$$:/)2$0)%<,1+.,&+$.)$2)&'%)/4+.= &'%) 5'6/+3+,.) &$) .,1%) ,.*) *%16/&+26
Y%B-B=) :%.&+-+.%/) ,0%) ,) /+-.) $2) /;. &'%) 2$::$A+.-) ,0%) $2&%.) ;/%2;:) ,.* 9%.+-.):%/+$./),/)&'%6),0%)%.3$;.&%0%*B)
*,1,-%) ,.*) /;--%/&) &'%) .%%*) 2$0 '+-':6)0%3$11%.*%*P N5%3+,:) %<,1+.,&+$.) &%3'.+?;%/) 2$0
+150$@%*)/;.)50$&%3&+$.ZB ',+0)*+/$0*%0/),0%)*+/3;//%*)+.)R',5B)a_=
Q H55$0&;.+&6) &$) 3$.@%6) &'%) 5'6/+7 Q S) 1,-.+26+.-) &$$:) /;3') ,/) ,) :$;5%= 9;&) +.3:;*%) ',@+.-) &'%) 5,&+%.&) /+&) +.) ,
3+,.8/) 3$.3%0.) ,9$;&) &'%) 5,&+%.&8/ 1,-.+26+.-)-:,//=)$0)*%01,&$/3$5%B 3',+0)/$)&',&)&'%)%.&+0%)/3,:5)+/)%,/+:6)%<7
/4+.) '%,:&') ,/) ,) A'$:%B) [,&+%.&/ Q S)90+-'&)2$3;/%*):+-'&)/;3'),/),)I,/'7 ,1+.%*=)5,0&+.-)&'%)5,&+%.&8/)',+0),&)&'%
,550%3+,&%) &'+/) ,.*) ,:/$) 0%-,0*) &'% :+-'&)$0)5%.:+-'&)&$)/+*%:+-'&):%/+$./B 20$.&),.*)$33+5;&),.*)-%.&:6)&;--+.-)$.
5'6/+3+,.),/)&'$0$;-'B Q #:,//) /:+*%/) $0) ,) ',.*) 1,-.+G%0) 2$0 ',+0/)&$)*%&%01+.%)&'%)20,3&+$.)$2):$$/%
*+,/3$56B Y&%:$-%.Z)',+0/B)T<,1+.,&+$.)$2)&'%).,+:/
IBHHE=H#) >;) <=H3;H@ECG) B) 6;@</=>= Q S:3$'$:)5,*/)&$)0%1$@%)/3,:%)$0)/;07 +/)*+/3;//%*)+.)R',5B)abB
#JEC)=DB@ECB>E;C O%/5+&%) &'%) ,*@,.7 2,3%)$+:B S2&%0) 3$15:%&+.-) &'%) %<,1+.,&+$.=) +&
&,-%/)$2)5%02$01+.-),)2;::)3;&,.%$;/)%<7 Q #,;>%)5,*/)$0)&+//;%/)A+&')A,&%0)2$0 +/)+15$0&,.&)&$)*$3;1%.&)&'%)/4+.)G.*7
,1+.,&+$.=).;1%0$;/)9,00+%0/)%<+/&)&',& 0%1$@+.-)1,4%;5B +.-/=) +.3:;*+.-) &'%) &65%) $2) :%/+$./) ,.*
1,6) 50%@%.&) &'%) *%01,&$:$-+/&) 20$1 Q #:$@%/) &$) 9%) ;/%*) 2$0) %<,1+.,&+$. &'%+0):$3,&+$./=)%+&'%0)*%/30+5&+@%:6)$0)$.
5%02$01+.-)/;3'),.)%@,:;,&+$.)2$0)%@%06 A'%.)/3,9+%/)$0),.$&'%0)'+-':6)+.2%37 ,) 9$*6) 1,5B) R,0%2;:) *$3;1%.&,&+$.) +/
!:
5,0&+3;:,0:6)+15$0&,.&)2$0)/;/5+3+$;/):%7 !"#$%&'(*
/+$./)&',&),0%)&$)9%)9+$5/+%*=)/$)&',&)&'% 2$#"'$-$./&(3+1/$01
%<,3&):$3,&+$.)1,6)9%)2$;.*),.*)*%G.+7
&+@%:6) &0%,&%*) ,&) ,) :,&%0) *,&%B) C./&,.&) $0 4!567* *7847667* 93!: 6;49!<7(<=!>?7 93;5*(95337* @!6<;3!4
*+-+&,:) 5'$&$-0,5'6) +/) ,) ;/%2;:) ,*K;.3& "5GHJ: *6ED3E< +5IHJ: 0I5J: f:D3IJ: "H6GH65
2$0)*$3;1%.&,&+$.B "J5MH: dJI:6 "54IA %6HD4 @HJJ5 (:J5<73:I45D35
/EBHJ: !46EGA? *6?4A:25 *OIE63543E< "HD4HJ: .<>56I4
./(#$)d%(.$/'($'+$#"&$,$-e %?D4 "E383JEB:625 *6?4A6EB:625 C3DDH6: CH6H<IJ:'
[A:5J 03<HD ,3IA:<3bI543E< !NDI:DD
N+%1%./) YVacVdVc_cZ) A0$&%=) E'%) A'$ 0I56' 04635: F:654EB:625
/&;*+%/) /4+.) *+/%,/%/) ,.*) 2,+:/) &$) /&;*6 %E2:BE @H66EK *DIA56
&'%) :%/+$.) G0/&) A+::) .%@%0) :%,0.) *%01,7 &E6< 0IJ:6ED3D
&$:$-6BF) e+/) /&,&%1%.&) 0%+.2$03%/) &'% %5JI3<ED3D
.$&+$.) &',&) &'%) 50+1,06) /4+.) :%/+$.=) $0
&'%)%@$:;&+$.)&'%0%$2=)+/)&'%)%//%.&+,:)%:7
%1%.&)$.)A'+3')3:+.+3,:)*+,-.$/+/)0%/&/B C;7A/= O%5%.*+.-) $.) &'%) ,.,&$1+3
#53D:B',:D3E<D
M$/%5')M,4$9) T*:%0)@$.)[:%.348/)YVb^ad 3$15$.%.&Y/Z) 50+1,0+:6) +.@$:@%*=) .$*7
VafbZ) ,.*) W$9%0&) D+::,.8/) YVb]bdVaV!Z <B<A/= S) 5,5;:%) +/) ,) /$:+*=) %:%@,&%*) :%7 ;:%/) ,0%) $2) G@%) 1,+.) &65%/P) YVZ) %5+*%07
A$04)+.)*%G.+.-)9,/+3)1$05'$:$-+3)&%07 /+$.):%//)&',.) fB])31) +.) /+>%) +.)A'+3'), 1,:=) Y!Z) %5+*%01,:7*%01,:=) Y^Z) *%01,:=
1+.$:$-6)2;0&'%0)5%01+&&%*)*%/30+5&+$. /+-.+G3,.&) 5$0&+$.) 50$K%3&/) ,9$@%) &'% YUZ) *%01,:7/;9*%01,:=) ,.*) Y]Z) /;93;&,7
,.*)3$15,0+/$.)$2)2;.*,1%.&,:):%/+$./= 5:,.%) $2) &'%) /;00$;.*+.-) /4+.B) H9:+?;% .%$;/B)H.)&'%)/4+.=),).$*;:%)+/),)/$:+*=
&'%0%96)2,3+:+&,&+.-)3',0,3&%0+>,&+$.),.* :+-'&+.-) A+&') ,) I,/':+-'&) +.) ,) *,04%.%* 0$;.*)$0)%::+5/$+*,:=)5,:5,9:%):%/+$.)&',&
0%3$-.+&+$.) $2) /4+.) *+/%,/%B) ($) 0%,* 0$$1) +/) /$1%&+1%/) .%3%//,06) &$) *%&%3& ',/),)*+,1%&%0):,0-%0)&',.)fB])31B)N+>%=
A$0*/=) $.%) 1;/&) 0%3$-.+>%) :%&&%0/X) &$ &'%) /:+-'&) %:%@,&+$.) $2) %19%**%*) 5,57 '$A%@%0=)+/).$&)&'%)1,K$0)3$./+*%0,&+$.
0%,*) &'%) /4+.=) $.%) 1;/&) 0%3$-.+>%) &'% ;:%/B) [,5;:%/) /;01$;.&%*) A+&') /3,:%) ,0% +.)&'%)*%G.+&+$.)$2).$*;:%B)O%5&')$2)+.7
9,/+3) :%/+$./B) ($) ;.*%0/&,.*) ,) 5,0,7 0%2%00%*) &$) ,/) 5,5;:$/?;,1$;/) :%/+$./B @$:@%1%.&) ,.*i$0) /;9/&,.&+@%) 5,:5,9+:7
-0,5'=)$.%)1;/&)4.$A)'$A)A$0*/),0% N%//+:%=)5%*;.3;:,&%*=)*$1%7/',5%*=)I,&7 +&6=)0,&'%0)&',.)*+,1%&%0=)*+22%0%.&+,&%/),
5;&)&$-%&'%0X)&$) ,00+@%) ,&) ,) *+22%0%.&+,: &$55%*=) 0$;-'=) /1$$&'=) G:+2$01=) 1,17 .$*;:%) 20$1) ,) :,0-%) 5,5;:%) $0) 5:,?;%B
*+,-.$/+/=) $.%) 1;/&) 4.$A) A',&) &'% 1+::,&%*=) ,3;1+.,&%=) ,.*) ;19+:+3,&%* 7.()5=) ,:/$) /$1%&+1%/) +.3:;*%*) ;.*%0
9,/+3) :%/+$./) 0%50%/%.&=) '$A) &'%6 3$./&+&;&%) /$1%) 3$11$.) /',5%/) ,.* &'%)'%,*+.-)$2).$*;:%=)+/),)-%.%0,:)&%01
%@$:@%=),.*)'$A)&'%6),0%),00,.-%*),.* /;02,3%/)$2)5,5;:%/B)S)3:+.+3,:)%<,15:%)+/ 2$0) ,.6) 1,//=) 9%.+-.) $0) 1,:+-.,.&B) S
*+/&0+9;&%*B :+3'%.)5:,.;/)YJ+-B)U7VX)/%%)R',5B)!_ZB ;.((#) +/=) /5%3+G3,::6=) &'%) -0,.;:$1,7
g,0+,&+$.) ,.*) ,19+-;+&6) +.) &'%) 1$07 &$;/) .$*;:,0) :%/+$.) $2) &%0&+,06) /65'+:+/B
5'$:$-+3) &%01/) -%.%0,::6) ,33%5&%*) 96 </BKA=) S)5:,?;%)+/),)/$:+*)5:,&%,;7:+4% J$0)3,/%/)+.)A'+3')1$0%)&',.)$.%)&%01
&'%) +.&%0.,&+$.,:) *%01,&$:$-6) 3$11;7 %:%@,&+$.)&',&)$33;5+%/),)0%:,&+@%:6):,0-% 1,6) 9%) ,55:+3,9:%=) +&) +/) /+15:6) 9%/&) &$
.+&6) ',@%) %.-%.*%0%*) 9,00+%0/) &$) 3$17 /;02,3%) ,0%,) +.) 3$15,0+/$.) A+&') +&/ +.3:;*%) 1%,/;0%1%.&/) ,.*) *%/30+5&+@%
1;.+3,&+$.),1$.-)5'6/+3+,./)$2),::)*+/7 '%+-'&) ,9$@%) &'%) .$01,:) /4+.) :%@%:) ,.* &%01/) &',&) 3$.@%6) &'%) +15$0&,.&) 2%,7
3+5:+.%/=) +.3:;*+.-) *%01,&$:$-+/&/B) C. ',/) ,) *+,1%&%0) :,0-%0) &',.) fB]) 31B) ('% &;0%/)$2)&'%):%/+$.)+.)?;%/&+$.B)N$1%),*7
*%01,&$:$-+3)&%<&9$$4/=)&'%)5,5;:%=)2$0 %:%@,&+$.).%%*).$&)9%)/+-.+G3,.&B)[:,?;%/= *+&+$.,:) 2%,&;0%/) $2) ,) .$*;:%) &',&) 1,6
%<,15:%=) ',/) 9%%.) *%/30+9%*) ,/) .$ A'+3')1,6)2$01)96)%<&%./+$.)$0)3$.I;7 '%:5)0%@%,:),)*+,-.$/+/)+.3:;*%)A'%&'%0
-0%,&%0) &',.) V) 31) +.) /+>%=) :%//) &',.) fB] %.3%) $2) 5,5;:%/=) ,0%) 2;0&'%0) 3',0,3&%07 +&) +/) A,01=) ',0*=) /$2&=) I;3&;,.&=) 1$@7
31=) $0) 0,.-+.-) 20$1) &'%) /+>%) $2) ,) 5+.7 +>%*)96)&'%+0)/+>%=)/',5%=)3$:$0=),.*)/;07 ,9:%=) G<%*=) $0) 5,+.2;:B) N+1+:,0:6=) *+22%07
'%,*) &$) &',&) $2) ,) /5:+&) 5%,B) (';/=) +. 2,3%) 3',.-%B) S) 3:+.+3,:) %<,15:%) +/ %.&)/;02,3%/)$2).$*;:%/=)/;3'),/)/1$$&'=
2$01+.-) ,) 1%.&,:) +1,-%) $2) ,) :%/+$.) $0 5/$0+,/+/)YJ+-B)U7!X)/%%)R',5B)VaZB 4%0,&$&+3=) ;:3%0,&%*=) $0) 2;.-,&+.-=) ,:/$
%0;5&+$.) ,2&%0) '%,0+.-) +&/) 1$05'$:$-+3 '%:5) *+0%3&)*+,-.$/&+3)3$./+*%0,&+$./B)S
*%/30+5&+$.=) 5'6/+3+,./) /$1%&+1%/) 0%7 3:+.+3,:)%<,15:%)+/).$*;:,0)9,/,:)3%::)3,07
1,+.)+00%/$:;&%B)('%)1+//+$.)$2)&'%)O%07 3+.$1,)YJ+-B)U7^X)/%%)R',5B)VV]ZB)
1,&$:$-6) h%<+3$.) [0$K%3&) +/) &$) 30%,&%) ,
;.+@%0/,::6),33%5&%*),.*)3$150%'%./+@%
-:$//,06) $2) 1$05'$:$-+3) *%/30+5&+@%
&%01/) &$) /;55$0&) 0%/%,03'=) 1%*+3,:) +.7
2$01,&+3/=) ,.*) 5,&+%.&) 3,0%) Y'&&5Pii
AAABO%01,&$:$-6h%<+3$.B$0-ZB) `$07
5'$:$-+3) *%G.+&+$./) +.) &'+/) 3',5&%0
5,0,::%:) ,.*) ,15:+26) &'$/%) $2) &'%) O%07
1,&$:$-6)h%<+3$.)[0$K%3&B)C.)*%/30+9+.-
1$05'$:$-+3)&%01/=)$;0)+.&%.&)+/)/+15:%P
&$) 50$@+*%) &'%) 0%,*%0) A+&') ,) 5;0%) ,57
50%3+,&+$.) $2) &'%) E:%&&%0/) &',&) 1,4%) ;5
&'%) ,:5',9%&F) 0,&'%0) &',.) *%&,+:+.-) ,
EG%:*) -;+*%F) 2$0) *+,-.$/%/=) A'+3') ,0%
3$@%0%*) +.) *%5&') &'0$;-'$;&) &'%) &%<&7 3EGAH=)9MO "5GHJ:9'+HJ43GJ:P'K:JJLB:b<:B'G5GL 3EGAH=)9M! "J5MH:9' [:JJLB:256I54:B' G3<8
9$$4B)(,9:%)U7!)+/),)/;11,06)$2)&'%):%7 HJ:D'E>';56?3<7'D3Q:D'56:'D::<9'CJ54'4EGD'5<B'7J3D4:<L GJ5MH:D'K34A'5'D3J;:6?'DI5J:'6:G6:D:<43<7'GDE635L
/+$./)*+/3;//%*B 3<7'DH6>5I:'56:'IA565I4:63D43I'E>'J3IA:<'GJ5<HD9 D3D';HJ7563D9
!N
3EGAH=)9M: [A:5J9' !' DA56GJ?' B:256I54:B
KA:5J'K34A'5'DH66EH<B3<7':6?4A:254EHD'\56:'EIL
IH663<7'K34A3<'D:IE<BD'E>'4A:'D83<'N:3<7'D46E8:B9'
3EGAH=)9M"! !NDI:DD9'!'4:<B:6'6:B':6?4A:25L
4EHD'\HI4H5<4'5NDI:DD'E<'4A:'J:79'
3EGAH=)9M"T "HD4HJ:9' (KE' GHD4HJ:D' 6:G6:L
D:<43<7'DHG:6bI35J'G?EB:6259' 3$;/) 1%190,.%/) 0%/;:&/) +.) 0%**+/'7
5;05:%) :%/+$./) +.3:;*%*) ;.*%0) &'%) &%01
&'%+0)/;5%0G3+,:):$3,&+$.=)5;/&;:%/)-%.%07 3.53.5#B) ('%) ,55:+3,&+$.) $2) 50%//;0%
,::6)'%,:)A+&'$;&)/3,00+.-B)S)3:+.+3,:)%<7 A+&')&A$)-:,//)/:+*%/)$0),.);.90%,4,9:%
,15:%)+/)/;5%0G3+,:)56$*%01,)YJ+-B)U7^fX 3:%,0):%./)Y*+,/3$56Z)$.),)0%**+/'75;05:%
/%%)R',5B)VbbZB :%/+$.) +/) ,) /+15:%) ,.*) 0%:+,9:%) 1%&'$*
2$0)*+22%0%.&+,&+.-)0%*.%//)*;%)&$)@,/3;7
3AHAC6/= S) 2;0;.3:%) YJ+-B) U7^VX) /%% :,0) *+:,&,&+$.) Y%06&'%1,Z) 20$1) 0%*.%//
R',5B)VbbZ)+/),)*%%5).%30$&+>+.-)2$::+3;:+7 *;%) &$) %<&0,@,/,&%*) %06&'0$36&%/) $0
&+/)A+&')/;55;0,&+$.B)C&)50%/%.&/),/),.)+.7 %06&'0$36&%) 50$*;3&/) Y5;05;0,ZB) C2) &'%
I,1%*) 2$::+3:%73%.&%0%*) .$*;:%) ;/;,::6 0%*.%//)+/).$.79:,.3'+.-);.*%0)&'%)50%/7
-0%,&%0)&',.)V)31)A+&'),)3%.&0,:).%30$&+3 /;0%)$2)&'%)/:+*%=)&'%):%/+$.)+/)5;05;0+3B
5:;-),.*),.)$@%0:6+.-)5;/&;:%B)N%@%0,:)2;7 [%&%3'+,%),0%)/1,::=)5+.5$+.&)5;05;0+3
0;.3:%/)1,6)3$,:%/3%)&$)2$01),)3,09;.3:%B 1,3;:%/B)T33'61$/%/),0%):,0-%0=)90;+/%7
:+4%)5;05;0+3)5,&3'%/B)('%/%):%/+$./)3$07
BI#6=## S.) ,9/3%//) YJ+-B) U7^!X) /%% 0%/5$.*) &$) ,) .$.+.I,11,&$06) %<&0,@,7
I R',5B)VbcZ)+/),):$3,:+>%*),33;1;:,&+$.)$2 /,&+$.) $2) 9:$$*B) S/) %<&0,@,/,&%*) 0%*
3EGAH=)9M!S f:D3IJ:'UBV'5<B'NHJJ5'UIV9'C657L 5;0;:%.&) 1,&%0+,:) /$) *%%5) +.) &'%) *%01+/ 9:$$*) 3%::/) *%3$15$/%) $@%0) &+1%=) &'%
$0) /;93;&,.%$;/) &+//;%) &',&) &'%) 5;/) +/ 3$:$0) $2) 5;05;0+3) :%/+$./) 3',.-%) 20$1
3J:'DHNLIE6<:5J'465<DJHI:<4';:D3IJ:D'6:G6:D:<43<7
;/;,::6) .$&) @+/+9:%) $.) &'%) /;02,3%) $2) &'% 9:;+/'70%*)&$)6%::$A+/'790$A.)$0)-0%%.B
32G:437E' I5HD:B' N?' 5' 4EO3<LG6EBHI3<7' D45GA?JEL
/4+.B)S.),9/3%//)+/),)5+.4)%06&'%1,&$;/= C2),):%/+$.)+/)5;05;0+3),.*)5,:5,9:%)YE5,:7
IEIIHD'UBV 5<B'J567:'4:<D:'DHNL:G3B:625J'NHJJ5: A,01=)&%.*%0=)I;3&;,.&).$*;:%)&',&)1,6 5,9:%)5;05;0,FZ=)&'%)/;--%/&+$.)$2),.)+.7
bJJ:B'K34A'D:6EHD'E6'A:2E66A573I'\H3B'3<'4A3D'G5L 9%) ,//$3+,&%*) A+&') $&'%0) /+-./) $2) +.2%37 I,11,&$06)+./;:&)&$)&'%)@%//%:)A,::),/),
43:<4'K34A'NHJJEHD'G:2GA37E3B'UIV9' &+$.)/;3'),/)2%@%0B)C&)20%?;%.&:6)9%-+./),/ 3,;/%) $2) %<&0,@,/,&+$.) $2) 9:$$*) ,.*) +.7
,) 2$::+3;:+&+/) 0%/;:&+.-) 20$1) /&0%5&$3$33,: I,11,&$06)3%::/)%<+/&/B)S)3:+.+3,:)%<,17
/&,5'6:$3$33,:) +15%&+-$) YJ+-B) U7!cSX) /%% $0)/&,5'6:$3$33,:)+.2%3&+$.B 5:%)+/):%;4$36&$3:,/&+3)@,/3;:+&+/)YJ+-B)U7^^X
R',5B)VbaZB)S)3:+.+3,:)%<,15:%)$2)9;::,)+/ /%%)R',5B)V_UZB
,) 9;::$;/) 5%15'+-$+*) YJ+-B) U7!cjX) /%% "H6GH65gf5DIHJ56',:D3E<D
R',5B)]UZB >=/BCGE=6>B#EB (%:,.-+%3&,/+,)YJ+-B)U7^UX
<AH<AHB T<&0,@,/,&+$.) $2) 0%*) 9:$$* /%%)R',5B)Vb^Z),0%)5%0/+/&%.&)*+:,&,&+$./
<A#>A/= S) 5;/&;:%) +/) ,) 3+03;1/30+9%*= 20$1)3;&,.%$;/)@%//%:/)+.&$)/4+.)$0)1;7 $2)/1,::)3,5+::,0+%/)+.)&'%)/;5%0G3+,:)*%07
0,+/%*) 3,@+&6) +.) &'%) %5+*%01+/) $0) +.7 1+/)&',&),0%)@+/+9:%),/)G.%=)90+-'&=).$.7
2;.*+9;:;1) 3$.&,+.+.-) 5;/B) ('%) 5;0;7 5;:/,&+:%)0%*):+.%/)$0).%&7:+4%)5,&&%0./)$.
:%.&) %<;*,&%=) 3$15$/%*) $2) :%;4$36&%/ &'%)/4+.B)(%:,.-+%3&,/+,)1,6)$0)1,6).$&
A+&') $0) A+&'$;&) 3%::;:,0) *%90+/=) 1,6 *+/,55%,0)A+&')*+,/3$56B
3$.&,+.) 9,3&%0+,) $0) 1,6) 9%) /&%0+:%B) S
#0,1) /&,+.) ,.*) 3;:&;0%) $2) &'%) %<;*,&% EC3BH6> S.)+.2,03&)+/),.),0%,)$2)3;&,.%7
20$1) 5;/&;:%/) /'$;:*) 9%) 5%02$01%* $;/) .%30$/+/) 0%/;:&+.-) 20$1) ,) 9:,.*) $0
A'%.) &'%) 5$&%.&+,:) 2$0) +.2%3&+$.) %<+/&/B +.I,11,&$06)$33:;/+$.)$2)9:$$*)@%//%:/
O%5%.*+.-) $.) +&/) /&%0+:+&6=) &'%) %<;*,&% +.)&'%)/4+.B)S)3;&,.%$;/)+.2,03&)50%/%.&/
1,6)9%)A'+&%=)6%::$A=)$0)-0%%.+/'76%::$A ,/) ,) &%.*%0=) +00%-;:,0:6) /',5%*) *;/46
+.)3$:$0B)[;/&;:%/)1,6)@,06)+.)/+>%),.*= 0%**+/'7-0,6)1,3;:%)$0)G01)5:,?;%)&',&
+.) 3%0&,+.) /+&;,&+$./=) 1,6) 3$,:%/3%) &$ +/) /$1%&+1%/) *%50%//%*) /:+-'&:6) 9%:$A
2$01) E:,4%/F) $2) 5;/B) D'%.) ,//$3+,&%* &'%) 5:,.%) $2) &'%) /4+.B) ('%) *%1,03,&+$.
A+&')',+0)2$::+3:%/=)5;/&;:%/)1,6),55%,0 $2),.)+.2,03&)3$00%/5$.*/)&$)&'%)*+/&0+9;7
3$.+3,:),.*)3$.&,+.),)',+0)+.)&'%)3%.&%0B 3EGAH=)9M"O CH6H<IJ:9'!<'3<\52:B'>EJJ3IHJ56L &+$.) $2) 9:$$*) $2) &'%) ,22%3&%*) @%//%:/B) S
('%0%) 1,6) 9%) ,.) %06&'%1,&$;/) ',:$ N5D:B'<EBHJ:'K34A'5'I:<465J'<:I6E43I'GJH7'4A54'A5D 5+.4)>$.%)$2)'65%0%1+,)$2&%.)/;00$;.*/
/;00$;.*+.-) &'%) 5;/&;:%B) j%3,;/%) $2 IE2:'JEED:9'(A:6:'3D'I6HD43<7'E;:6'4A:'DH6>5I:9 &'%),0%,)$2)+.2,03&+$.B)S)3:+.+3,:)%<,15:%
""
3EGAH=)9M": .<>56I49' )HD8?' GH6GJ:' B3DIEJE6L
543E<'6:G6:D:<43<7'5<'56:5'E>'3<>56I43E<'4A54':;:<L
4H54:D'3<'43DDH:'<:I6ED3D9'(A3D'G543:<4'A5B'IAEJ:DL
4:6EJ' :2NEJ3' JEB7:B' 3<' 4A:' B3D45J' :<B' 564:63:D' E>
4A:'4E:D9
0A5G:P'!665<7:2:<4P'5<B'
)3D463NH43E<'E>',:D3E<D
H.3%) &'%) &65%) $0) &65%/) $2) :%/+$./) ',@%
9%%.) +*%.&+G%*=) $.%) .%%*/) &$) *%/30+9%
&'%+0)/',5%=),00,.-%1%.&=),.*)5,&&%0.)$2
*+/&0+9;&+$.=) ,::) ;/%2;:) 3',0,3&%0+/&+3/) +.
1$05'$:$-+3) *+,-.$/+/B) J$0) %<,15:%=) ,
/+.-:%) /3,:6) 5:,?;%) $.) ,) 5,&+%.&8/) &0;.4
1,6)',@%),)90$,*)*+22%0%.&+,:)*+,-.$/+/=
9;&)&'%)/,1%)5:,?;%/)/611%&0+3,::6)*+/7
&0+9;&%*)$.)&'%)%:9$A/=)4.%%/=),.*);17
9+:+3;/) A$;:*) 9%) '+-':6) /;--%/&+@%) $2
5/$0+,/+/B)('%)2$::$A+.-)*%/30+5&+$./)$2
/',5%/),.*),00,.-%1%.&/)$2)/4+.):%/+$./
3EGAH=)9M"" "H6GH659'/E<LNJ5<IA3<7'6:B':6?4A:254EHD'G5GHJ:D'5<B'GJ5MH:D'UG5JG5NJ:'GH6GH65V'E< 1,6)9%),55:+%*)&$)/+.-:%)$0)1;:&+5:%):%7
4A:'J:7DP'6:G6:D:<43<7'J:H8EI?4EIJ5D43I';5DIHJ343D9' /+$./B) J$0) %<,15:%=) ,) /+.-:%) :%/+$.) 1,6
9%) :+.%,0) $0) 1;:&+5:%) :%/+$./) 1,6) ,/7
/;1%),):+.%,0)5,&&%0.B
#?B<=);H)6;C3EGAHB>E;C);3)#JEC)/=#E;C#)
Q S..;:,0) YJ+-B) U7^_ZP) 0+.-7/',5%*X
+15:+%/) &',&) &'%) %*-%) $2) &'%) :%/+$.
*+22%0/) 20$1) &'%) 3%.&%0=) %+&'%0) 96
9%+.-) 0,+/%*=) /3,:6=) $0) *+22%0+.-) +.
3$:$0)Y%B-B=)-0,.;:$1,),..;:,0%=)&+.%,
3$05$0+/=) %06&'%1,) ,..;:,0%) 3%.7
&0+2;-;1ZB
Q W$;.*i.;11;:,0i*+/3$+*)YJ+-B)U7^bZP
3$+.7/',5%*X);/;,::6),)0$;.*)&$)$@,:
:%/+$.) A+&') ;.+2$01) 1$05'$:$-6
20$1) &'%) %*-%/) &$) &'%) 3%.&%0) Y%B-B=
.;11;:,0)%3>%1,=)5:,?;%7&65%)5/$7
0+,/+/=)*+/3$+*):;5;/ZB
Q [$:6363:+3) YJ+-B) U7^aZP) 2$01%*) 20$1
3$,:%/3+.-) 3+03:%/=) 0+.-/=) $0) +.3$17
5:%&%) 0+.-/) Y%B-B=) ;0&+3,0+,=) /;9,3;&%
3;&,.%$;/):;5;/)%06&'%1,&$/;/ZB
Q S03;,&%) YJ+-B) U7^cZP) ,037/',5%*X) $2&%.
,)0%/;:&)$2)+.3$15:%&%)2$01,&+$.)$2),.
,..;:,0):%/+$.)Y%B-B=);0&+3,0+,=)/;9,3;&%
3EGAH=)9M"9 (:J5<73:I45D359'@J5<IA3<7'B3J54:B'DHG:6bI35J'I5G3JJ563:D'6:G6:D:<43<7'4:J5<73:I45D359' 3;&,.%$;/):;5;/)%06&'%1,&$/;/ZB
"9
3EGAH=)9M"N !<<HJ56'J:D3E<9'U.JJHD46543E<'N?'-J:<'&3<4QP'+09'):6254EJE7?',:OL 3EGAH=)9M"P /H22HJ56'J:D3E<9'U.JJHD46543E<'N?'-J:<'&3<4QP'+09'):625L
3IE<'"6E]:I49V 4EJE7?',:O3IE<'"6E]:I49V
3EGAH=)9M"R "EJ?I?IJ3I'J:D3E<9'U.JJHD46543E<'N?'-J:<'&3<4QP'+09'):6254EJE7?',:O3IE<'"6E]:I49V
!665<7:2:<4'E>'
+HJ43GJ:',:D3E<D
Q #0$;5%*i'%05%&+2$01) YJ+-B) U7U]ZP) :%7
/+$./) 3:;/&%0%*) &$-%&'%0) Y%B-B=) 3:,//+3
%<,15:%)+/)'%05%/)/+15:%<)@+0;/)V)0%7
,3&+@,&+$.) .$&%*) ,/) -0$;5%*) @%/+3:%/
$.) ,.) %06&'%1,&$;/) 9,/%X) ,:/$) /%%.
A+&')3%0&,+.),0&'0$5$*)9+&%/ZB
Q N3,&&%0%*) YJ+-B) U7U_ZP) +00%-;:,0:6) *+/7
3EGAH=)9M9O #:43IHJ56'J:D3E<9'U.JJHD46543E<'N?'-J:<'&3<4QP'+09'):6254EJE7?',:O3IE<'"6E]:I49V &0+9;&%*B
)3D463NH43E<D'E>'
+HJ43GJ:',:D3E<D
Q O%01,&$1,:i>$/&%0+2$01P) ;.+:,&%0,:
,.*):6+.-)+.)&'%)*+/&0+9;&+$.)$2),)/+.7
-:%) /5+.,:) ,22%0%.&) .%0@%) 0$$&X) &'%
3:,//+3)%<,15:%)+/)'%05%/)>$/&%0B
Q j:,/3'4$+*)YJ+-B)U7UbZP)2$::$A+.-):+.%/
$2)/4+.)3%::)1+-0,&+$.)*;0+.-)%1906$7
-%.%/+/X) -%.%0,::6) :$.-+&;*+.,::6) $0+7
%.&%*)$.)&'%):+19/),.*)3+03;12%0%.&+,:
$.) &'%)&0;.4=) 9;&) .$&) 5%02%3&:6):+.%,0
Y/%%),:/$)D'$0:%*)+.)N',5%),.*)R$.7
G-;0,&+$.) $2) h%/+$./ZX) *%/30+9%*) 96
S:20%*)j:,/3'4$),.*)+15:+%/),)1$/,+3
*+/$0*%0)Y%B-B=)+.3$.&+.%.&+,)5+-1%.&+=
+.I,11,&$06):+.%,0)@%00;3$;/)%5+*%07
1,:).%@;/ZB)
Q h615',.-+&+3P):6+.-) ,:$.-)&'%)*+/&0+7
3EGAH=)9M9! 0:6G373<EHD'J:D3E<9'U.JJHD46543E<'N?'-J:<'&3<4QP'+09'):6254EJE7?',:O3IE<'"6E]:I49V 9;&+$.)$2),):615')@%//%:X)+15:+%/),.
"N
3EGAH=)9M9" (567:4E3B'J:D3E<9'U.JJHD46543E<'N?'-J:<'&3<4QP'+09'):6254EJL 3EGAH=)9M9: -6EHG:BS'IJHD4:6:B9'U.JJHD46543E<'N?'-J:<'&3<4QP'+09'):6254EJL
E7?',:O3IE<'"6E]:I49V E7?',:O3IE<'"6E]:I49V
%&!"(*#'a *%@+3%/)&',&)3,.),+*)&'%)3:+.+3+,.)+.)1,47
+.-) &'%) 3$00%3&) *+,-.$/+/B) D%) 50%/%.&
&A$)1+30$/3$5%)/:+*%/Z)$.)&'%)/;02,3%)$2
&'%)/4+.B)('%);/%0)/'$;:*)9%)3,0%2;:).$&
&'%)*+,-.$/&+3),+*/)+.),.)$0*%0)&',&)%/3,7 &$)+.K;0%)&'%)5,&+%.&8/)$0)'+/)$0)'%0)$A.
:,&%/)+.)&%01/)$2)+.@,/+@%.%//=)3$/&=),.* /4+.) A+&') &'%) /',05) %*-%) $2) &'%) /:+*%B
7-18.*0$-' &%3'.+3,:) 3$15:%<+&6) Y/%%) %J+-B) ]7fBV) +. O+,/3$56) 3,.) 9%) ;/%2;:) +.) *+/&+.-;+/'7
$.7:+.%)%*+&+$.ZB +.-) %06&'%1,) /%3$.*,06) &$) @,/$*+:,7
<%*'(2&%(0 &+$.=) A'+3') +/) 9:,.3',9:%) A+&') 50%/7
/;0%=) 20$1) %06&'0$36&%) %<&0,@,/,&+$.
1.2)7(X-'(0 */&!/%*'e$d#',$$FS' Y5;05;0,Z)A'+3')0%&,+./)+&/)0%*)3$:$0B)C.
f.0d!,'!.)0'($'./0"*%(.$/ .%@;/) ,.%1+3;/=) +.) A'+3') &'%) 9:$$*
!JE<'0IEG: +57<3>?3<7',:<D @%//%:/)+.)&'%):%/+$.),0%)@,/$3$./&0+3&%*=
!JJ5<'%9'&5JG:6< 50%//;0%) $.) &'%) %*-%) $2) &'%) :%/+$.
`,-.+G3,&+$.) $2) /;02,3%) 5,&'$:$-6) 3,. 1,4%/) &'%) 1,0-+./) +.,55,0%.&B) O+,/7
9%),3'+%@%*)A+&'),)',.*7'%:*):%./B)`,-7 3$56) +/) ,:/$) ;/%2;:) +.) *%&%3&+$.) $2) &'%
OD)9P$%Q.'$%'$#9*%$"454%#9*%/))>6%*) .+26+.-)+./&0;1%.&/)A+&')9;+:&7+.):+-'&+.- 6%::$A+/'790$A.) YE,55:%) K%::6FZ) 3$:$0) +.
')(4$"&9;R ,.*) ,) 1,-.+G3,&+$.) $2) !7) &$) Vf72$:*) ,0% 5,5;:%/) $0) .$*;:%/) $2) -0,.;:$1,&$;/
0%,*+:6) ,@,+:,9:%B ) NA,99+.-) &'% 50$3%//%/=) /;3') ,/) /,03$+*$/+/=) -0,.;7
"N'%::%6)Dj),.*)N'%::%6)TOV
/4+.) /;02,3%) A+&') ,:3$'$:) $0) ,55:+3,&+$. :$1,),..;:,0%=),.*)&;9%03;:$/+/B)
$2),)*0$5)$2)$+:)9%2$0%)1,-.+G3,&+$.)3,.
D+&') ,) 3:+.+3,::6) A%::7&0,+.%*) %6%) ,.* %:+1+.,&%) *+0&) 5,0&+3:%/) ,.*) %.',.3%) &'%
[EEB`D',37A4
,550$50+,&%)5,&+%.&)'+/&$06=)&'%)1,K$0+&6 &0,./5,0%.36)$2)&'%)/&0,&;1)3$0.%;1B)
$2) /4+.) :%/+$./) 3,.) 9%) *+,-.$/%*) A+&' ('%)D$$*8/):+-'&)YE9:,34):+-'&FZ=)G0/&)*%7
/+15:%) @+/;,:) +./5%3&+$.B) e$A%@%0=) *%7 )35DIEG? /30+9%*)+.)Vcf^=)+/),);/%2;:)*%@+3%)2$0)&'%
&,+:/) /%%.) 96) &'%) .,4%*) %6%) ,0%) :+1+&%* 3:+.+3,:) %@,:;,&+$.) $2) @,0+%*) 3;&,.%$;/
+.)1,-.+G3,&+$.=)*%5&'=),.*)3$.&0,/&B)C. O+,/3$56)+/)5%02$01%*)96)G01:6)50%//+.- *+/%,/%/)/;3'),/)5+-1%.&)*+/$0*%0/=)/4+.
&'+/)3',5&%0=)A%)*+/3;//)50$3%*;0%/),.* ,) &0,./5,0%.&=) ',0*=) I,&) $9K%3&) Y/;3') ,/ +.2%3&+$./=),.*)5$05'60+,/B)('%)D$$*8/
9T
*+,-.$/+/X)+&)3,.),:/$)/%0@%),/),)-;+*%)&$
).!-/$0(.% &'%) /3,:5) /+&%) &',&) ',/) ,) '+-'%0) :+4%:+7
'$$*) $2) 6+%:*+.-) ,) 5$/+&+@%) 3;:&;0%=) ,:7
"#$%*)d#*0 &'$;-') .$&) ,::) 3,/%/) 3:%,0:6) I;$0%/3%Bb
(65+3,:)I;$0%/3%.3%)1,6),:/$)9%)/%%.)+.
!/)'(*%&/.kd*0 %06&'0,/1,)YE3$0,:)0%*FZ=)&+.%,)@%0/+3$:$0
Y6%::$A) &$) $0,.-%Z) ,.*) F'4.*)()9#'
0%#!"*P'"d,,P'0[!@
('%) /30,5%=) 5;::=) /A,9) /&%5) $2) &'%) *+,-7 7 =
.$/&+3):,**%0)3$./+*%0/)/,15:+.-)$2)3;&,7
.%$;/) :%/+$./) /'$0&) $2) 5%02$01+.-) ,) 9+7
$5/6B) e,+0) 3,.)9%)/,15:%*) 96) 5;::+.-)$0
5:;34+.-) 2$0) 1+30$/3$5+3) %@,:;,&+$.) $2
2;.-,:) +.2%3&+$.) ,.*) ',+0) *+/$0*%0/B) e,+0
5;::+.-=) *%.$&+.-) -%.&:%) &0,3&+$.) $2) ',+0/
20$1)&'%)0$$&/=)+/)50%2%00%*)$@%0)&'%)',+0
5:;34+.-) 1%&'$*) Y?;+34) 5;::+.-) A+&'
',.*)$0)3:,15Z=)9%3,;/%)+&)+/):%//)5,+.2;: 3 G ?
,.*) 0%/;:&/) +.):%//) ',+0)/',2&) *+/&$0&+$.B!^
3EGAH=):M! [A54'4E':OG:I4'H<B:6'4A:'23I6EDIEG:S'UBV'D:G454:'A?GA5:'3<'B:6254EGA?4:'3<>:I43E<P'UIV
S) @%/+3;:,0) :%/+$.) 3,.) 9%) /30,5%*) 2$0
NHBB3<7' ?:5D4D'3<'/)(%+%)P' U6V' G34?635D3D' ;:6D3IEJE6' B:2E<D46543<7' A?GA5:'5<B' DGE6:D' UYDG57A:443' 5<B
(>,.34) /1%,0) ,.*) &'%) I;+*) /%.&=) +2) ,57
50$50+,&%=)2$0)3;:&;0%)$0)$&'%0)1+30$9+,: 2:54N5JJDZVP'U7V':I4E4A63OL4?G:'43<:5'I5G343DP'U=V':<BE4A63OL4?G:'43<:5'I5G343DP'U3V'2HJ43<HIJ:54:B'735<4'I:JJ
,.,:6/+/)1%&'$*/=)/;3'),/)+11;.$I;$7 3<'A:6G:43I'3<>:I43E<'U(Q5<I8'D2:56VP'UGV 0#+"1')(+)'43DDH:'525D437E4:DP'5<B'U?V'B3GJEIEII3'K34A3<'J:H8EL
0%/3%.3%) $0) 5$:61%0,/%) 3',+.) 0%,3&+$.B I?4:D'3<'7E<E66A:59'
('%):%/+$.)3,.)9%)/30,5%*)A+&'),)/3,:5%:
$0) -:,//) /:+*%) &$) /,15:%) /3,:%/) +.) /;/7 $2):%/+$./)&',&),0%)0%1$@%*)2$0)3$/1%&+3 *%01+/) $0) /;93;&,.%$;/) 2,&B) ('%) 5;.3'
5%3&%*)2;.-,:)+.2%3&+$.=)9;00$A/)+.)/3,7 5;05$/%/=) +&) +/) $2&%.) 50;*%.&) &$) /;91+& 3,.)0%1$@%),)/1,::):%/+$.)+.)+&/)%.&+0%&6)$0
9+%/=),.*)&'%)9,/%)$2),.);:3%0)+.)-%.+&,: &'%) /5%3+1%.) 2$0) 5,&'$:$-+3) %@,:;,&+$. /,15:%),)3$0%)$2)&+//;%)+.):,0-%0):%/+$./B)C&
:%/+$./)2$0)*+0%3&)1+30$/3$5+3)+*%.&+G3,7 2$0)1%*+3$:%-,:)3$./+*%0,&+$./B +/),550$50+,&%)2$0)1$/&)+.I,11,&$06)50$7
&+$.) $2) 5,&'$-%./B!U) `;3$/,:) /;02,3%/= N%:%3&+.-) &'%) ,550$50+,&%) 9+$5/6) &%3'7 3%//%/=) /;3') ,/) 3;&,.%$;/) @,/3;:+&+/=) $0
/;3'),/)&'%).,0%/=)$0$5',06.<=),.*);0%7 .+?;%) 0%?;+0%/) ,.) ;.*%0/&,.*+.-) $2) &'% *%01,&$/%/),//$3+,&%*)A+&')*%5$/+&/=)/;3'
&'0,=)3,.)9%)/A,99%*)2$0)1+30$9+,:)3;:7 /,15:+.-)%<&%.&)$2)%,3')1%&'$*)A%+-'%* ,/)-0,.;:$1,),..;:,0%B)e$A%@%0=),)5;.3'
&;0%/B)J$0)/4+.):%/+$./=),/5+0,&+$.)$2)5;/i ,-,+./&) &'%) 50$9,9:%) *+,-.$/+/B_) C.) ,**+7 9+$5/6=);.:%//)$2)/;2G3+%.&)9$0%)&$)%.3$17
I;+*) 3$::%3&+$.) ,.*) 9+$5/6) ,0%) 9%&&%0 &+$.=)&'%)&A$)$55$/+.-)@%3&$0/)+.)/%:%3&+.- 5,//)&'%)%.&+0%):%/+$.=)+/).$&)&'%)1%&'$*)$2
1%&'$*/) 2$0) 5,&'$-%.) +*%.&+G3,&+$. &'%)9+$5/6)1%&'$*),0%)&'%)A+/')&$)1+.+7 3'$+3%)2$0)0%1$@,:)$2)1$/&).%$5:,/&+3)50$7
&',.) /;5%0G3+,:) /A,9) /,15:+.-B!] J+-B 1+>%) /3,00+.-=) -%,0+.-) &$A,0*) ,) /1,::%0= 3%//%/=)9%3,;/%) &'%0%)+/) ,) /;9/&,.&+,:) 0,&%
]7!)*%5+3&/)%<,15:%/)$2)+.2%3&+$;/)%.&+7 1$0%)/;5%0G3+,:)9+$5/6=)@%0/;/)&'%):+1+&,7 $2) +.3$15:%&%) %<3+/+$.) ,.*) *+,-.$/&+3
&+%/)&',&)3,.)9%)0%,*+:6)*+,-.$/%*)+.)&'% &+$./)5$/%*)$.)&'%)'+/&$5,&'$:$-+3),.,:67 /,15:+.-)%00$0B ))
$2G3%)/%&&+.-B /+/) 96) +.,*%?;,&%) /,15:+.-B!a ) ('% [,&'$:$-6) 0%5$0&/) /'$;:*) .$&) 9%) ,37
I+5) /+*%) $2) &'%) 3$/1%&+3) ,*@,.&,-%) $2 3%5&%*) ,&) 2,3%) @,:;%) A'%.) +.3$./+/&%.&
/1,::) 9+$5/+%/) +/) &',&) ,.) +./;2G3+%.&) 9+7 A+&') &'%) 3:+.+3,:) +150%//+$.B^]) R:+.+3,:7
@.$"0e'(&*',*0.$/ $5/6) 1,6) 1,.*,&%) ,) /%3$.*) 50$3%*;0% 5,&'$:$-6) 3$00%:,&+$.) /'$;:*) 9%) 5;07
j+$5/6) $2) &'%) /4+.) +/) ,) 0$;&+.%) ,.*) %/7 &',&) 3$;:*) ,3&;,::6) 0%/;:&) +.) ,.) +.2%0+$0 /;%*)&'0$;-')2;0&'%0)/%3&+$.+.-),.*) 0%7
/%.&+,:)*+,-.$/&+3)&%3'.+?;%)+.)*%01,&$7 3$/1%&+3)$;&3$1%)&',.)+2),)50$5%0)9+$5/6 %@,:;,&+$.) $2)&'%)/5%3+1%.=)5%02$01+.-
:$-+3) 50,3&+3%=) ,/) &'%) /4+.) +/) 0%,*+:6) ,37 ',*)9%%.)*$.%)+.)&'%)G0/&)5:,3%B)S)9+$5/6 ,**+&+$.,:)9+$5/+%/=)$0)96)/%%4+.-),)/%37
3%//+9:%) &$) 9+$5/6B) ('%) 9+$5/6) 3,.) 9% 3,.)3$15:%&%:6)0%1$@%)&'%):%/+$.=)$0)+.):%7 $.*)5,&'$:$-+/&8/)$5+.+$.B)J+.,::6=)&'%0%
;/%2;:)&$)3$.G01)&'%)3:+.+3,:),//%//1%.& /+$./) A+&') ,) :,0-%) /;02,3%) ,0%,=) 5,0&+,::6 ,0%)0%,3&+$.)5,&&%0./)A+&')/+1+:,0)'+/&$7
A'%.) ,) *%G.+&+@%) *+,-.$/+/) +/) .%%*%*= /,15:%) +&B) S) /',@%) 9+$5/6) ;/;,::6 5,&'$:$-+3) ,55%,0,.3%) *%/5+&%) *+/&+.3&
,**),)*+,-.$/&+3)3:;%)A'%.)3:+.+3,:)%@+7 &0,./%3&/) &'%) /;5%0G3+,:) &$) 1+*7*%01+/ %&+$:$-6=) ,/) +/) $2&%.) &'%) 3,/%) A+&'
*%.3%) +/) +.3$.3:;/+@%=) ,.*) $33,/+$.,::6 ,.*)&';/)+/)1$0%),550$50+,&%)&$)%<$5'6&+3 3'0$.+3) *%01,&+&+/=) ,.*) &';/) 2;0&'%0
;.3$@%0) ,.) ;./;/5%3&%*) *+,-.$/+/B) ('% $0) A,0&6) 50$3%//%/) $0) :%/+$./) :+1+&%*) &$ %@,:;,&+$.=)/;3'),/)5,&3')&%/&+.-=)+/)A,07
9+$5/6)1,6),:/$)9%)$9&,+.%*)&$)0%,//;0% &'%)%5+*%01+/)$0)5,5+::,06)*%01+/=)/;3'),/ 0,.&%*)&$);.3$@%0)&'%)/5%3+G3)3,;/%B
&'%) 5,&+%.&=) ,.*) $2&%.) &'%) 5'6/+3+,.= /%9$00'%+3) 4%0,&$/+/=) /$:,0) 4%0,&$/+/=) ,.*
&',&)&'%)*+,-.$/+/)+/)3$00%3&)*%/5+&%)/;97 %5+*%01,:).%@;/B)S)5;.3')9+$5/6)/'$;:*
$5&+1,:) 0%/5$./%) &$) &0%,&1%.&B) C.) 3,/% 9%)5%02$01%*)+2)&'%)5,&'$:$-6):+%/)+.)&'% ./f*0(.-!(*'Cd#(&*#
9!
&0,/$;.*)/6/&%1/)50$*;3%),)&A$7*+1%.7
*f$,f./-'(*%&/$,$-.*0 F*e'#*C*#*/%*0
/+$.,:) +1,-%) YEj7/3,.FZ) $2) &'%) /4+.) 96
R$15;&%07,//+/&%*) *+,-.$/&+3) /6/&%1/ *+/5:,6+.-) &'%) 1,-.+&;*%) $2) ,3$;/&+3 (A:'>HJJ'6:>:6:<I:'J3D4'>E6'5JJ'IA5G4:6D'
,0%)9%+.-),55:+%*)50+1,0+:6)&$)&'%)%@,:;7 0%I%3&+$.) ,/) *%-0%%) $2) 90+-'&.%//B) C.7
,&+$.) $2) 5+-1%.&%*) :%/+$./B) `$/&) /6/7 &%01%*+,&%) 20%?;%.36) ;:&0,/$;.*) YbB]
3D'5;53J5NJ:'54'KKK9B372c9IE29
&%1/),.,:6>%)&'%)*%01$/3$5+3)+1,-%)$2 &$)VfBf)`e>Z)+/);/%*)&$)%@,:;,&%)/;97 ^B [,0,/4%@,/)hW=)e,:5%0.)SR=)`,0-'$$9
,) :%/+$.=) ;/+.-) ,) 1;:&+&;*%) $2) 5,0,1%7 3;&,.%$;/)1,//%/)2$0)/+>%=)%<&%.&=),.* SSP) \&+:+&6) $2) &'%) D$$*8/) :+-'&P) J+@%
&%0/) /;3') ,/) *+1%./+$./=) -%$1%&06= 3$./+/&%.36) Y/$:+*) @%0/;/) 36/&+3Z) ,.* 3,/%/)20$1),)5+-1%.&%*):%/+$.)3:+.+3B)S5
C%D45(#$)/ #&'PVf^c=)!ff]
.;19%0) $2) 3$:$0/=) ';%=) *+/&0+9;&+$.) $2 &$) 1$.+&$0) 2$0) &'%) 50%/%.3%) $2) 0%7
VfB) j0,;.) W[=) N,;0,&) MeP) O+22%0%.&+,:) *+,-7
/&0;3&;0%/=) &%<&;0%=) ,.*) -0,*+%.&) $2 -+$.,:):615'7.$*%)1%&,/&,/%/)+.)1%:,7 .$/+/) $2) 5+-1%.&%*) :%/+$./) $2) &'%) /4+.=
3',.-%) 20$1) &'%) .$01,:) /4+.B) S.$&'%0 .$1,B ) e+-'720%?;%.36) ;:&0,/$;.* +. =$/#'% )+% D45()'-)38=) %*+&%*) 96) SS
/&0,&%-6)+/)1;:&+7/5%3&0,:)+1,-+.-=)A'+3' Y!f) `e>Z) +/) 3;00%.&:6) ;.*%0) /&;*6) ,/) , `,0-'$$9=) W[) j0,;.=) SD) k$52B) L%A
,55:+%/),)0,.-%)$2)@+/+9:%7:+-'&),.*).%,0 1%,./) &$) ,//%//) &;1$0) &'+34.%//) 50%7 n$04=)(,6:$0)o)J0,.3+/=)!ff]=)5)U^
VbB `,0-'$$9) SS) %&) ,:P) C./&0;1%.&/) ,.*
+.20,0%*)A,@%:%.-&'/)&$)&'%):%/+$.=)@,0+7 $5%0,&+@%:6)+.)1%:,.$1,),.*).$.71%:,7 .%A) &%3'.$:$-+%/) 2$0) &'%) +.) @+@$) *+,-7
,9:%) +.) &'%) *%5&') $2) &'%+0) /4+.) 5%.%&0,7 .$1,) /4+.) 3,.3%0B) ('%) '65$%3'$-%.+37 .$/+/)$2)1%:,.$1,B)C%=(%=-#*%D45(#$)/
&+$.) ,.*) &'%+0) %.',.3%1%.&) $2) &+//;% +&6) $2) &;1$0/) 3$15,0%*) A+&') &'%) /;07 $(Pbbb=)!ff^
3'0$1$5'$0%/) Y/;3') ,/) 1%:,.+.=) 3$:7 0$;.*+.-) *%01+/) 2$01/) &'%) 9,/+/) 2$0 !UB j0$*%::) W(=) e%:1/) NTP) j%*/+*%) &%/&+.-P
&'%)*+,-.$/&+3)3$0.%0/&$.%)$2)*%01,&$:7
:,-%.=),.*)'%1$-:$9+.ZB^_)('+/)50$@+*%/ +1,-%)3$.&0,/&B )
$-6B)G)(35%7"45 '"P!VV=)Vccb
&'%) 3$15;&%0) A+&') ,) -0%,&%0) /%&) $2) 5,7 C.) 3$.&0,/&=) HR() 50$*;3%/) ,) &A$7 !]B #+::)gM=)J%*$04$)O[=)D+&%9/46)J#P)('%
0,1%&%0/) 2$0) ,.,:6/+/) &',.) &'%) /&,.*,0* *+1%./+$.,:) @%0&+3,:) +1,-%) $2) &'%) /4+. 3:+.+3+,.) ,.*) &'%) 1+30$9+$:$-6) :,9$0,7
*%01$/3$5+3)+1,-%B ) &',&) +/),.,:$-$;/)&$)&'%) ,2$0%1%.&+$.%* &$06=)+.)F5&9-&3/4'%#9*%F5#-$&-4%)+%19+4-$&).'
N;97/;02,3%) +1,-+.-) 1$*,:+&+%/) +.7 j71$*%);:&0,/$;.*)+1,-+.-=) %<3%5&)&',& D&'4#'4'I)_&')%*B=)%*+&%*)96)#h)`,.*%::=
MT) j%..%&=) W) O$:+.B) ['+:,*%:5'+,=
3:;*%)3;&,.%$;/);:&0,/$.$-0,5'6=)0%I%37 +&) ;/%/) :+-'&) 0,&'%0) &',.) /$;.*) A,@%/BUa T:/%@+%0) R';03'+::) h+@+.-/&$.%=) !ff]=) 5
&,.3%) 3$.2$3,:) 1+30$/3$56) YWR`Z=) ,.* S-,+.=)1%:,.+.)50$*;3%/)+.30%,/%*)9,347 !f^
$5&+3,:) 3$'%0%.3%) &$1$-0,5'6) YHR(ZB /3,&&%0)$2):+-'&)1,4+.-)&'+/)1$*,:+&6)5$7 ^VB T:%.+&/,/) W=) L$;/,0+) Re=) N%64$0,) M(P
W;:%/)$2)&';19)&',&),55:6)&$)/;97/;02,3% &%.&+,::6);/%2;:)2$0)5+-1%.&%*):%/+$.)%@,:7 h,9$0,&$06) 1%&'$*/=)+.) T4<45P'% H&'$)3#@
$")/);8%)+%$"4%?>&9I)%*+&%*)96)OT)T:*%0=)W
+1,-+.-),0%)&',&)YVZ)&'%)*%%5%0)$.%)/%%/ ;,&+$.B)R;00%.&:6)3$11%03+,::6),@,+:,9:%
T:%.+&/,/=) jh) M$'./$.=) %&) ,:B) ['+:,*%:7
+.&$)&'%)&+//;%=)&'%):$A%0)&'%)+1,-%)0%/7 HR()/6/&%1/)*$).$&)*%:+@%0)&'%)3%::;:,07 5'+,=) h+55+.3$&&) D+::+,1/) ,.*) D+:4+./=
$:;&+$.=),.*)Y!Z):$.-%0)A,@%:%.-&'/)5%.7 *%&,+:) 0%/$:;&+$.) $2) WR`=) :+1+&+.-) &'% !ff]=)5)]c
%&0,&%)*%%5%0B) S.)+.'%0%.&) :+1+&,&+$.) $2 ,9+:+&6)&$)*+22%0%.&+,&%)9%.+-.),.*)1,:+-7 ^]B N$6%0) e[) %&) ,:P) h+1+&,&+$./) $2) '+/&$7
+1,-+.-)+/)$9/%0@%0)*%5%.*%.36B .,.&):%/+$./=)9;&)+1,-%/)*%%5%0)+.&$)&'% 5,&'$:$-+3),.,:6/+/)+.)&'%)0%3$-.+&+$.)$2
1%:,.$1,P),)5:%,)2$0),)3$19+.%*)*+,-7
\:&0,/$;.*) +1,-+.-) +/) 9,/%*) $.) &'% &+//;%)Y;5)&$)V)11Z=),::$A+.-)2$0),//%//7 .$/&+3) ,550$,3') $2) '+/&$5,&'$:$-+3) ,.*
2,3&)&',&)&+//;%)3$15$.%.&/)+15%*%),.* 1%.&) $2) &'%) $@%0,::) :%/+$.) ,03'+&%3&;0% *%01$/3$5+3) %@,:;,&+$.B) =5-"% D45(#$)/
0%I%3&) ,3$;/&+3) A,@%/) *+22%0%.&:6B^a) \:7 ,.*)*%5&')$2)&;1$0)+.@,/+$.BUc #$#)!fc=)!ff]
&'%)+.*+@+*;,:)3;&,.%$;/)3$15,0&1%.&/X 1,6)9%)+.@$:@%*)%+&'%0),:$.%)$0)&$-%&'%0
%&!"(*#'m $.:6) &'%.) A+::) +&) 9%) ;.*%0/&$$*) A'6) , Y/%% J+-B) _7V=) NZB) e,+0) 2$::+3:%/) ,.*) -:,.*/
2%A)9,/+3)0%,3&+$./):%,*)&$),)1;:&+5:+3+&6 ,0%) ,) /%5,0,&%) Y2$;0&'Z) 0%,3&+@%) ;.+&) %17
$2)0%,3&+$.)5,&&%0./)A+&'+.)&'+/)&+//;%B 9%**%*)+.)&'%/%)&'0%%)9,/+3);.+&/B)
I10-')<1$Y*5*8-') [,&'$5'6/+$:$-+3,::6=) &'%) /4+.) 3,.) 9%
/;9*+@+*%*)+.&$)&'0%%)0%,3&+@%);.+&/)&',&
H(1'$-*.0)*+)$Y()#,-. %<&%.*) 9%6$.*) ,.,&$1+3) 9$;.*,0+%/ 0d"*#C.%.!,'#*!%(.f*'d/.(
YJ+-B) _7VZX) &'%6) $@%0:,5) ,.*) 3,.) 9%) *+7
+5643<'%9'+3A2P'=69 @+*%*) +.&$) *+22%0%.&) /;9;.+&/) &',&) 0%7
*G3B:623D YN%% J+-B)_7V=)TZ
!NBHJL-A5<3'F3NN3 /5$.*)&$)5,&'$:$-+3)/&+1;:+),33$0*+.-)&$ k%0,&+.$36&%/=)A'+3')',@%) &'%)3,5,3+&6
FJ5HD'[EJ>> &'%+0) +.'%0%.&) 0%,3&+$.) 3,5,3+&+%/) +.) , &$) 4%0,&+.+>%=) 0%50%/%.&) &'%) 9;:4) $2) &'%
3$$0*+.,&%*)5,&&%0.B %5+*%01+/B) ('%) %5+*%01+/=) ,.) %3&$*%07
('%)/;5%0G3+,:)0%,3&+@% ;.+&)3$150+/%/ 1,:) %5+&'%:+;1=) ,:/$) ',09$0/) ,) .;19%0
('%)/4+.)+/)3$15$/%*)$2)*+22%0%.&)&+//;% &'%) /;9;.+&/) %5+*%01+/=) &'%) K;.3&+$. $2) $&'%0) 3%::) 5$5;:,&+$./) /;3') ,/) 1%:7
3$15,0&1%.&/) &',&) +.&%03$..%3&) ,.,7 >$.%=) &'%) /;9K,3%.&) :$$/%) 3$..%3&+@%) &+/7 ,.$36&%/=)h,.-%0',./)3%::/=)`%04%:)3%::/=
&$1+3,::6),.*)+.&%0,3&)2;.3&+$.,::6B) C&)+/ /;%)$2)&'%)5,5+::,06)9$*6),.*)+&/)3,5+::,06 ,.*)3%::;:,0)1+-0,.&/)Y/%%)R',5B)bZB)('%
*+2G3;:&) &$) %.@+/,-%) %5+*%01,:) 2;.3&+$. .%&A$04=) ,.*) &'%) /;5%0G3+,:) @%.;:,0 9,/,:)3%::/)$2)&'%)%5+*%01+/);.*%0-$)50$7
A+&'$;&)/+-.,:/)20$1)&'%)*%01+/)$0)5,/7 5:%<;/) Y/%%) J+-B) _7V=) NW\ZB) ('%) 0%&+3;:,0 :+2%0,&+$.)363:%/)&',&)50$@+*%)2$0)&'%)0%7
/%.-%0):%;4$36&%/)&0,@%:+.-)&$),.*)20$1 :,6%0)$2)&'%)*%01+/)0%50%/%.&/),.$&'%0)0%7 .%A,:) $2) &'%) %5+*%01+/) ,.*=) ,/) &'%6
&'%)/4+.B)H.)&'%)$&'%0)',.*=)%5+*%01+/= ,3&+@%);.+&),.*)+/)3$15$/%*)$2)3$..%3&+@% 1$@%) &$A,0*) &'%) /;02,3%) $2) &'%) /4+.=
*%01+/=) ,.*) /;93;&,.%$;/) &+//;%) ,0% &+//;%) ,.*) &'%) *%%5%0) *%01,:) @,/3;:,0 ;.*%0-$) ,) *+22%0%.&+,&+$.) 50$3%//) &',&
'%&%0$-%.%$;/)+.).,&;0%),.*),.),.,:6/+/ 5:%<;/)Y/%%)J+-B)_7V=)OW\ZB)('%)&'+0*)0%,37 0%/;:&/) +.) 4%0,&+.+>,&+$.B) ('%) %5+*%01+/
$2) 5,&'$:$-+3) 50$3%//%/) +.@$:@+.-) &'% &+@%);.+&=)&'%)/;93;&,.%$;/)&+//;%=)+/),.,7 +/) &';/) ,) *6.,1+3) &+//;%) +.) A'+3') 3%::/
/4+.)/'$;:*)&'%0%2$0%)3$./+*%0)9$&')&'+/ &$1+3,::6),.*)2;.3&+$.,::6),:/$)'%&%0$-%7 ,0%) 3$./&,.&:6) +.) .$./6.3'0$.+>%*) 1$7
'%&%0$-%.%+&6) ,.*) &'%) +.&%0,3&+$./) $2 .%$;/X) /%5&,:) ,.*) :$9;:,0) 3$15,0&1%.&/ &+$.X) &'%) 50$:+2%0,&+$.) 4+.%&+3/) ,.*) &'%
9"
@!0.%
"!(&$,$-.%
#*!%(.$/0
!('!'-,!/%*
0%3&) 3%::;:,0) +.K;06) &$) ,) @+,9:%) %5+*%01+/ 3+,&+.-) +.&%03%::;:,0) 3$.&,3&/B) N5%3+G3
*%50+@%*) $2) +&/) 50$&%3&+@%) '$0.6) :,6%0B +.&%03%::;:,0) ,&&,3'1%.&)*%@+3%/)Y*%/1$7
('%0%2$0%=) &'%) 1$05'$:$-+3) &%01) 3#5#>@ /$1%/Z) ,.*) &'%) +.&%03%::;:,0) /;9/&,.3%
3EGAH=)NM! !I5<4AED3D9'(A3D'D37<'E>'3<I6:5D:B 45#$)'&')/+-.+G%/)9$&'),)50$-0,11%*)*+/7 ,0%)0%/5$./+9:%)2$0)+.&%03%::;:,0)3$'%/+$.B
:G3B:625J'83<:43ID'3D'3JJHD4654:B'3<'5'GAE4E23I6EL &;09,.3%) $2) *+22%0%.&+,&+$.) ,.*) 1,&;0,7 e$A%@%0=) %5+*%01,:) 3$'%/+$.) 1;/&) 5%07
&+$.),.*)*+0%3&)3%::;:,0)+.K;06B 1+&) %5+*%01,:) 3%::) 1$&+$.B) O%/1$/$1%/
765GA'E>'GDE635D3D9'"5658:654ED3DP'4A:'6:4:<43E<'E>
D8'>45#$)'&') +/) ,) &%01) 2$01%0:6) ;/%* *+//$3+,&%) ,.*) 0%72$01) ,&) .%A) /+&%/) $2
<HIJ:3'3<'4A:'AE6<?'J5?:6P'3D':;3B:<49
2$0)50%1,&;0%)3$0.+G3,&+$.)$2)+.*+@+*;,: +.&%03%::;:,0) 3$.&,3&) ,/) 3%::/) 1+-0,&%
3%::/)A+&'+.)&'%)@+,9:%):,6%0/)$2)&'%)%5+7 &'0$;-' &'%)%5+*%01+/B)C.&%03%::;:,0)3$'%7
,) 3$15%./,&$06) %:$.-,&+$.) $2) &'%) 3$.7 *%01+/B) C&) +/) .$A) ;.*%0/&$$*) &',&) *6/7 /+$.)2$03%/),0%)/&0$.-)%.$;-')&$)-;,0,.&%%
.%3&+@%)&+//;%)5,5+::,%=)0%/;:&+.-)+.),.)%.7 4%0,&$/+/) 0%50%/%.&/) &'%) 1$05'$:$-+3 &'%)3$.&+.;+&6)$2)&'%)%5+*%01+/),/),.);.7
:,0-%1%.&)$2)&'%)*%01,:7%5+*%01,:)+.&%07 50%/%.&,&+$.) $2) ,5$5&$/+/) $2) 4%0,&+.$7 +.&%00;5&%*) %5+&'%:+;1) 9;&=) $.) &'%) $&'%0
2,3%) ,.*=) 3$./%?;%.&:6=) +.) ,.) +.30%,/%* 36&%/B)O6/4%0,&$&+3)3%::/)',@%),.)%$/+.$7 ',.*=),0%),*,5&,9:%)%.$;-')&$)5%01+&):$7
,0%,) 2$0) *%01,:7%5+*%01,:) +.&%0,3&+$./ 5'+:+3)36&$5:,/1),.*),)564.$&+3).;3:%;/ 3$1$&+$.=)5%01%,9+:+&6)$2)&'%)+.&%03%::;:,0
Y/%% J+-B)_7!ZB )) ,.*) ,0%) 5,34%*) A+&') 4%0,&+.) G:,1%.&/ /5,3%=),.*)+.&%03%::;:,0)+.&%0,3&+$./B
,00,.-%*)+.)5%0+.;3:%,0),--0%-,&%/B)N;3' ('%)1$/&)3$11$.)0%/;:&)$2)*+/&;09%*
7E#>AHIBC6=#);3)=<E7=H@B/)6=//)7E33=HM ,)3%::)A+::)&%.*)&$)0$;.*);5),.*):$/%)+&/ %5+*%01,:) 3$'%/+$.) +/) &'%) +.&0,%5+*%07
=C>EB>E;C S)/+15:%)%<,15:%)$2)*+/&;09%* ,&&,3'1%.&/) &$) &'%) /;00$;.*+.-) 3%::/B 1,:) @%/+3:%=) ,) /1,::) 3,@+&6) G::%*) A+&'
%5+*%01,:) *+22%0%.&+,&+$.) +/) 5,0,4%0,7 O6/4%0,&$/+/) +/) &'%0%2$0%) $2&%.) ,//$3+7 I;+*B) S) 3:,//+G3,&+$.) $2) +.&0,%5+*%01,:
&$/+/=) +.) A'+3') 2,;:&6) ,.*) ,33%:%0,&%* ,&%*) A+&') ,3,.&'$:6/+/) Y/%%) O+/&;07 9:+/&%0+.-)96),.,&$1+3):%@%:)+/)/'$A.)+.
3$0.+G3,&+$.) :%,*/) &$) ,) 0%&%.&+$.) $2 9,.3%/) $2) T5+*%01,:) R$'%/+$.Z) 9;&) .$& (,9:%)_7VB
564.$&+3) .;3:%+) $2) %5+*%01,:) 3%::/) Y/%% @+3%)@%0/,)YJ+-B)_7^ZB
J+-B) _7!ZB) S) 5,0,4%0,&$&+3) /&0,&;1) 3$07 C.)/$1%)*+/%,/%/=)*6/4%0,&$/+/)+/)&'%)%<7
.%;1) +/) .$&) ,) 3$15,3&) /'%%&) $2) 3$0.+7 50%//+$.)$2),)-%.%&+3,::6)50$-0,11%*)*+/7 !"#$%&-()
G%*)3%::/)9;&),):$$/%)/&0;3&;0%)A+&')-,5/ &;09,.3%)$2)4%0,&+.+>,&+$.),/)+/)&'%)3,/%)+. <-%11/G&%)/$0($A(50)#%+"/B+#,%-(H-/1)+#1(
9%&A%%.)3%::/X) &'%/%) -,5/) :%,*) &$),):$// O,0+%0)*+/%,/%)Y/%%)R',5B)UcZB)O6/4%0,&$7 IF(!0%)$,/&(3+J+-(K/)'(<-/0/&%-(7L%,"-+1
$2)&'%)9,00+%0)2;.3&+$.)$2)&'%)%5+*%01+/B /+/) 1,6) $33;0) +.) ,3&+.+3) 4%0,&$/+/) ,.* -65<HJ56'J5?:6
[,0,4%0,&$/+/) 3,.) 9%) &'%) 0%/;:&) $2) +.7 /?;,1$;/) 3%::) 3,03+.$1,B) O6/4%0,&$/+/ C63I43E<'NJ3D4:6
3$15:%&%) *+22%0%.&+,&+$.) +.) 5$/&1+&$&+3 1,6),:/$)9%)3,;/%*)96)*+0%3&)5'6/+3,:),.* ":2GA37HD'>EJ35I:HD
-%01+.,&+@%) 3%::/B) R$./+*%0+.-) ,) &0,./+& 3'%1+3,:) +.K;06B) C.) &'%) /;.9;0.) 0%,3&+$.= 0HNIE6<:5J'GHD4HJ56'B:6254ED3D
&+1%)$2)VU)*,6/)2$0),)5$/&1+&$&+3)%5+*%07 %$/+.$5'+:+3=) ,5$5&$&+3) 3%::/"/$73,::%* 045GA?JEIEII5J'DI5JB:BLD83<'D?<B6E2:g
1,:)3%::=),)5,&'$:$-+3)/+-.,:)+.*;3+.-)5,07 /;.9;0.) 3%::/",0%) 2$;.*) A+&'+.) &'%) %5+7 NHJJEHD'32G:437E
,4%0,&$/+/)+.),)3%::)%,0:6)+.)*+22%0%.&+,&+$. *%01+/)A+&'+.)&'%)G0/&)!U)'$;0/),2&%0)+00,7 0G3<EHD'J5?:6
0%?;+0%/),:1$/&)!)A%%4/)&$),55%,0)'+/&$7 *+,&+$.)A+&')\gj)Y/%%)R',5B)acZ=),.*)/+17 *IQ:254EHD'B:6254343D
:$-+3,::6) +.) &'%) /&0,&;1) 3$0.%;1B) S:&%07 +:,0)E*6/4%0,&$&+3=F)&',&)+/=),5$5&$&+3=)3%::/ &:6G:D;36HD'3<>:I43E<
.,&+@%:6=)5,0,4%0,&$/+/)3,.),:/$)9%)&'%)0%7 1,6)$33;0),2&%0)'+-')*$/%)/6/&%1+3)36&$7 C523J35J'N:<37<'G:2GA37HD
/;:&)$2) 0%*;3%*)&0,./+&) &+1%=)A'+3')*$%/ &$<+3) &0%,&1%.&B) C.*+@+*;,:) 3%::) *%,&' 0HG65N5D5J
.$&) 5%01+&) %5+*%01,:) 3%::/) &$) 3$15:%&% A+&'+.)&'%)%5+*%01+/)+/),)0%-;:,0)5'%.$17 ":2GA37HD';HJ7563D
&'%) A'$:%) *+22%0%.&+,&+$.) 50$3%//=) ,/) 2$0 %.$.)+.)-0,2&7@%0/;/7'$/&)0%,3&+$./)$2)&'% )563:6'B3D:5D:
%<,15:%) +.) 5/$0+,/+/B) e$A%@%0=) E5,0,7 /4+.)Y/%%)R',5B)!aZ),.*)+.)%06&'%1,)1;:7 @5D5J'J5?:6
4%0,&$/+/F) $2) 3%::$5',.%7/&0+55%*) %5+*%07 &+2$01%)Y/%%)R',5B)^aZB *6?4A:25'2HJ43>E62:
1+/) 9%3$1%/) 1+30$/3$5+3,::6) @+/+9:%) ,/ ,HGHD':6?4A:254EDHD
%,0:6),/)V)'$;0),2&%0) &0,;1,X)'%0%=)5,0,7 7E#>AHIBC6=#) ;3) =<E7=H@B/) 6;?=#E;C ,3IA:<'GJ5<HD
4%0,&$/+/) *$%/) .$&) 0%50%/%.&) *+/&;09%* T5+*%01,:)3$'%/+$.)+/)&'%)0%/;:&)$2),)*67 *G3B:62EJ?D3D'NHJJED5
*+22%0%.&+,&+$.X) 0,&'%0=) +&) 0%/;:&/) 20$1) *+7 .,1+3)%?;+:+90+;1)$2)2$01+.-),.*)*+//$7
9:
S3,.&'$:6/+/)$33;0/)+.),).;19%0)$2)*+27
2%0%.&)5,&'$:$-+3)50$3%//%/)&',&)*$).$&
',@%),);.+2$01)%&+$:$-6),.*)5,&'$-%.7
%/+/B) S3,.&'$:6/+/) 1,6) 9%) ,) 50+1,06
%@%.&) :%,*+.-) &$) +.&0,%5+*%01,:) 3,@+&,7
&+$.)Y50+1,06),3,.&'$:6/+/Z)$0),)/%3$.*7
,06) 5'%.$1%.$.) +.) A'+3') %5+*%01,:
3%::/) ,0%) /'%*) 20$1) &'%) A,::/) $2) %/&,97
:+/'%*) +.&0,%5+*%01,:) 9:+/&%0/) Y/%3$.*7
,06),3,.&'$:6/+/ZB)[0+1,06) ,3,.&'$:6/+/
+/) ,) 5,&'$-%.%&+3,::6) 0%:%@,.&) %@%.&) +.
*+/%,/%/) $2) &'%) 5%15'+-;/) -0$;5) Y/%%
R',5B)]!Z=)+.)A'+3')+&)0%/;:&/)20$1)&'%
+.&%0,3&+$.) $2) ,;&$,.&+9$*+%/) ,.*) ,.&+7
-%.+3)*%&%01+.,.&/)$.)&'%)4%0,&+.$36&%
3EGAH=)NM9 0GE<73>E62' ;:D3IJ:' 6:DHJ43<7' >6E2' :B:254EHD' D:G56543E<' E>' 8:6543<EI?4:D9'(A:D:' 56: 1%190,.%/) ,.*) +.) &'%) /&,5'6:$3$33,:
D43JJ'G56435JJ?'5445IA:B'4E':5IA'E4A:6'N?'B:D2EDE2:D'5<B'A5;:'4AHD'5IMH36:B'5'D4:JJ54:'5GG:565<I:9' /3,:*%*7/4+.) /6.*0$1%=) A'%0%) +&) +/
3,;/%*) 96) ,) /&,5'6:$3$33,:) %<$&$<+.
Y%5+*%01$:6/+.Z) Y/%%) R',5B) VbaZB) C.) 2,7
('0%%) 9,/+3) 1$05'$:$-+3) 5,&&%0./) $2 :$3,&+$.B)S3,.&'$:6&+3)3%::/)3,.)%,/+:6)9% 1+:+,:) 9%.+-.) 5%15'+-;/=) +&) 0%/;:&/
+.&0,%5+*%01,:)@%/+3:%)2$01,&+$.),0%)3:,/7 *%1$./&0,&%*) +.) 36&$:$-+3) /1%,0/) Y/%% 20$1) &'%) 3$19+.,&+$.) $2) ,) -%.%&+3,::6
/+3,::6)0%3$-.+>%*B)?3)9;&)'&')+/),.)%<,17 J+-B)_7]Z),.*)+.)/$1%)3$.*+&+$./)',@%)*+7 *%&%01+.%*) *%2%3&) $2) &'%) 4%0,&+.$36&%
5:%)$2)&'%)/%3$.*,06):$//)$2)3$'%/+$.)9%7 ,-.$/&+3)/+-.+G3,.3%B 3%::) 1%190,.%) ,.*) %<$-%.$;/) 2,3&$0/
&A%%.)%5+*%01,:)3%::/)*;%)&$)&'%)+.I;<)$2
&+//;%)I;+*)+.&$)&'%)%5+*%01+/B)N%0$;/)%<7
;*,&%) 1,6) %<&%.*) 20$1) &'%) *%01+/) +.&$
&'%)+.&%03%::;:,0)3$15,0&1%.&)$2)&'%)%5+7
*%01+/X),/)+&)%<5,.*/=)%5+*%01,:)3%::/)0%7
1,+.)+.)3$.&,3&)A+&')%,3')$&'%0)$.:6),&
&'%)/+&%/)$2)*%/1$/$1%/=),3?;+0+.-),)/&%:7
:,&%),55%,0,.3%),.*)-+@+.-)&'%)%5+*%01+/
,) /5$.-%:+4%) 1$05'$:$-6) Y/5$.-+$/+/ZB
S/) &'%) +.&%03%::;:,0) %*%1,) +.30%,/%/=) +.7
*+@+*;,:) 3%::/) 0;5&;0%) ,.*) :6/%=) ,.*) 1+7
30$3,@+&+%/) Y/5$.-+$&+3) @%/+3:%/Z) 0%/;:&
YJ+-B)_7UZB)R$.I;%.3%)$2)/;3')1+30$3,@+7
&+%/) :%,*/) &$) :,0-%0) 9:+/&%0/B) T5+*%01,:
3%::/) 1,6) ,:/$) 9%) /%5,0,&%*) 96) :%;4$7
36&%/) &',&) *+/&;09) +.&0,%5+*%01,:) 3$'%07
%.3%X) &';/=) &'%) 1+-0,&+$.) $2) :%;4$36&%/
+.&$)&'%)%5+*%01+/),.*)/5$.-+$&+3)%*%1, 3EGAH=)NM: !I5<4AEJ?D3D9'03<7J:'5D'K:JJ'5D'IJHD4:6D'E>'5I5<4AEJ?43I'I:JJD'56:'D::<9'(A:'6EH<B'DA5G:D
,0%)$2&%.),)3$19+.%*)5'%.$1%.$.=)9%/& 6:DHJ4'>6E2'4A:'JEDD'E>'3<4:6I:JJHJ56'IE<<:I43E<D9'%?4EJE73I'D2:56'G6:G56543E<'E>'G:2GA37HD';HJ7563D9
+::;/&0,&%*) 96) ,3;&%) 3$.&,3&) *%01,&+&+/B
('%),33;1;:,&+$.)$2)5$:61$05'$.;3:%,0
:%;4$36&%/)A+&'+.)&'%) %5+*%01+/=)&'%)0%7
/;:&+.-)/%5,0,&+$.)$2)%5+*%01,:)3%::/=),.*
&'%+0) /;9/%?;%.&) *%/&0;3&+$.) %@%.&;,::6
:%,*) &$) &'%) 2$01,&+$.) $2) ,) /5$.-+2$01
5;/&;:%=) $.%) $2) &'%) '+/&$5,&'$:$-+3) ',::7
1,04/)$2)5/$0+,/+/B
=-#9$")/8'&')+/),)50+1,06):$//)$2)3$'%7
/+$.) $2) %5+*%01,:) 3%::/B) ('+/) +/) +.+&+,::6
3',0,3&%0+>%*)96),)/%5,0,&+$.)$2)&'%)+.7
&%0*%/1$/$1,:)0%-+$./)$2)&'%)3%::)1%17
90,.%/) $2) 4%0,&+.$36&%/=) 2$::$A%*) 96
/5:+&&+.-),.*),)*+/,55%,0,.3%)$2)*%/1$7
/$1%/) Y/%%) R',5B) ]!ZB) ('%) 3%::/) ,0%) +.7
&,3&)9;&),0%).$):$.-%0),&&,3'%*X)&'%6),37
?;+0%)&'%+0)/1,::%/&)5$//+9:%)/;02,3%),.*
0$;.*);5)YJ+-/B)_7^),.*)_7]ZB)C.&%03%::;:,0
-,5/) ,.*) /:+&/) 0%/;:&=) ,.*) &'%) +.I;<) $2
I;+*) 20$1) &'%) *%01+/) :%,*/) &$) ,) 3,@+&6=
A'+3') 1,6) 2$01) +.) ,) /;50,9,/,:) YJ+-B 3EGAH=)NMN ":2GA37HD';HJ7563D9'!<'3<465:G3B:625J'DHG65N5D5J'IJ:>4'3D';3D3NJ:'4A54'A5D'6:DHJ4:B'>6E2
_7_Z=) 1+*%5+*%01,:=) $0) %@%.) /;93$0.%,: DHG65N5D5J'5I5<4AEJ?D3D9'.4'IE<453<D'5I5<4AEJ?43I'5<B'3<\52254E6?'I:JJD9
9N
3EGAH=)NMR @HJJEHD'G:2GA37E3B9'0HN:G3B:625J'U]H<I43E<5JV'IJ:>4'>E62543E<'5<B'5'G:63;5DIHJ56'5<B
3<4:6D43435J'J?2GAE:ED3<EGA3J3I'3<bJ4654:'56:'IA565I4:63D43I9
"54AEJE73I'#:5I43E<D'E>'4A:'
*<436:'0HG:6bI35J'#:5I43;:'
3EGAH=)NMOT %E<45I4' B:6254343D9' .<465:G3B:625J' DGE<73E43I' ;:D3IJ:D' 5<B' G6E<EH<I:B' 3<4:6I:JJHJ56
d<34 YN%% J+-B)_7V=)NW\Z :B:25'56:'G6:D:<4'3<'4A:':G3B:623D9'(A:'B:623D'IE<453<D'G:63;5DIHJ56'5776:754:D'E>'J?2GAEI?4:D'5<B
`$/&) 5,&'$:$-+3) 0%,3&+$./) $2) &'%) /;7 A3D43EI?4:D'5B23O:B'K34A'EII5D3E<5J':ED3<EGA3JD9
5%0G3+,:) /4+.) +.@$:@%) &'%) /;9;.+&/) $2
&'%)/;5%0G3+,:)0%,3&+@%);.+&)K$+.&:6),.* 2%A) %<,15:%/) $2) /;3') +.&%0,3&+$./) ,0% $5/),/),)3$./%?;%.3%)$2)%5+*%01,:)+.7
&';/) +.3:;*%) &'%) 5,5+::,06) 9$*6) $2) &'% *%&,+:%*)9%:$AB K;0 6= ) ,.*) &'% ) +.I, 11 ,&+$.) +.) &'%
*%01+/) A+&') &'%) /;5%0G3+,:) 1+30$@,/7 5,5+::,06)9$*6),.*),0$;.*)&'%)/;5%0G7
3;:,0) 5:%<;/B) ('+/) +/) ,) '+-':6) 0%,3&+@% 6;C>B6>)7=H@B>E>E# YN%%)R',5B)V^Z C . 3+,:)@%.;:,0)5:%<;/)/&+1;:,&%/)1+&$&+3
&+//;%) 3$15,0&1%.&) 3$./+/&+.-) $2) 3,57 ,::%0-+3)3$.&,3&)*%01,&+&+/=)&'%0%)+/),. 50$3%//%/)A+&'+.)&'%)%5+*%01+/=)A'+3'=
+::,0+%/=) 50%7) ,.*) 5$/&3,5+::,06) @%//%:/ +.I,11,&$06)0%,3&+$.)$2)&'%)5,5+::,06 +.)&;0.=)0%/;:&)+.),3,.&'$/+/),.*)%5+*%07
Y/%%) R',5B) V_^Z=) G90$9:,/&/=) 1,30$7 9$*6) ,.*) /;5%0G3+,:) 1+30$@,/3;:,0 1,:)'65%05:,/+,)+.)3'0$.+3):%/+$./B
5',-%/=) *%.*0+&+3) 3%::/=),.*) 5%0+5,&%&+3 5:%<;/),.*)/5$.-+$/+/)$2)&'%)%5+*%01+/
:615'$36&%/) ,::) %19%**%*) +.) ,) :$$/% Y/%% J+-B)_7UZ)A+&')/+-./)$2)3%::;:,0)+.K;06 <#;HEB#E# YN%%)R',5B)VaZ)('%) +.+&+,:) :%7
3$..%3&+@%)&+//;%),.*)%<&0,3%::;:,0)1,7 ,.*)5,0,4%0,&$/+/B)h615'$36&%/)+.G:7 /+$.)$2)5/$0+,&+3):%/+$./),55%,0/)&$)9%)&'%
&0+<) YJ+-B) _7cZB) ('%) 50$1+.%.3%) $2) +.7 &0,&%)&'%)%5+*%01+/)%,0:6)+.)&'%)50$3%// 5%0+@,/3;:,0) ,33;1;:,&+$.) $2) :615'$7
@$:@%1%.&) $2) $.%) $2) &'%) 3$15$.%.&/ ,.*),--0%-,&%),0$;.*)h,.-%0',./)3%::/= 36&%/) ,.*) 1$.$36&$+*) %:%1%.&/) A+&'+.
$@%0)&'%)$&'%0/)1,6):%,*)&$)&'%)*%@%:7 ,.*)&'+/)+/)2$::$A%*)96)/5$.-+$&+3)@%/+37 &'%)5,5+::,06)9$*6),.*)/;5%0G3+,:)@%.;:%/
$51%.&)$2)*+22%0%.&)3:+.+3,:)5+3&;0%/B)S ;:,&+$.)YJ+-B)_7VfZB)[,0,4%0,&$/+/)*%@%:7 ,.*)2$3,:)1+-0,&+$.)$2):%;4$36&%/)+.&$)&'%
%5+*%01+/B) S3,.&'$/+/) 3,;/%*) 96) +.7
30%,/%*) %5+*%01,:) 50$:+2%0,&+$.=) 5,5+::$7
1,&$/+/=),.*)%*%1,)$2)&'%)%:$.-,&%*)*%07
1,:)5,5+::,%)&$-%&'%0)A+&')@,/$*+:,&,&+$.
$2) &'%) 5,5+::,06) 3,5+::,06) :$$5/) ,.*) ,
*%./%0) 5%0+@,/3;:,0) +.G:&0,&%) *%@%:$5) ,:7
1$/&) /+1;:&,.%$;/:6) Y/%%) J+-B) _7!ZX) &'%
*+/&;09%*)*+22%0%.&+,&+$.)$2)&'%)%5+*%01,:
3%::/)0%/;:&/)+.)5,0,4%0,&$/+/=),.*).%;&0$7
5'+:/)+.G:&0,&+.-)&'%)%5+&'%:+;1)20$1)&$07
&;$;/) 3,5+::,0+%/) Y/?;+0&+.-) 3,5+::,0+%/Z
:%,*) &$) /5$.-+2$01) 5;/&;:%/) ,.*=) +.
&'%) 5,0,4%0,&$&+3) /&0,&;1) 3$0.%;1=) &$
`;.0$8/) ,9/3%//%/B) ('%) /&+1;:;/) 2$0) +.7
30%,/%*) %5+*%01,:) 50$:+2%0,&+$.) 2$::$A/
/+-.,:/) 0%:%,/%*) 20$1) () 3%::/) &',&) ,0%) ,&7
&0,3&%*) &$) &'%) %5+*%01+/) 96) &'%) %<50%/7
/+$.)$2),*'%/+$.)1$:%3;:%/),&)&'%)4%0,&+7
.$36&%) /;02,3%) ,.*) ,0%) 1,+.&,+.%*) 96
36&$4+.%/) 0%:%,/%*) 96) 4%0,&+.$36&%/) Y/%%
R',5B)VaZB)('%)3$15$/+&%)5+3&;0%)3',0,37
&%0+/&+3) $2) 5/$0+,/+/=) &'%0%2$0%=) 0%/;:&/
20$1),)3$19+.%*)5,&'$:$-6)$2)&'%)5,5+:7
:,06) 9$*6) A+&') &'%) /;5%0G3+,:) @%.;:%/=
&'%)%5+*%01+/=),.*)3+03;:,&+.-)3%::/B
[/$0+,/+/)+/),)-$$*)%<,15:%)$2)&'%):+17
3EGAH=)NMS (A:'IE2G5642:<4'E>'4A:'G5G3JJ56?'NEB?'IE<D3D4D'E>'I5G3JJ563:D'U%VP'bN6ENJ5D4D'UCVP'25I6EL +&%*)/5%3+G3+&6)$2)'+/&$5,&'$:$-+3)0%,3&+$.
GA57:D'5<B'B:<B6343I'I:JJD'U+VP'G:63G54:43I'J?2GAEI?4:D'U,V'5<B'25D4'I:JJD'U+IV'5JJ':2N:BB:B'3<'5'JEED: 5,&&%0./)A+&'+.)&'%)/4+.)9%3,;/%)5/$0+,/+7
IE<<:I43;:'43DDH:'E>':O465I:JJHJ56'25463OP'4A3<'IEJJ57:<'bN:6D'U%EVP':J5D43I'bN:6D'U*V'4A54'56:'2ED4J?'E63L 2$01) '+/&$:$-+3) 2%,&;0%/) $33;0) +.),) .;17
:<4:B'G:6G:<B3IHJ56J?'4E'4A:'D83<'DH6>5I:P'5<B'N65<IA:B'6:43IHJ3<'bN:6D'U#V9 9%0)$2)*+/%,/%/);.0%:,&%*)&$)5/$0+,/+/B
9R
0$:%)2$0),5$5&$/+/)+.)&'%)5,&'$-%.%/+/)$2
&'%/%):%/+$./B)
,?2GAEI?43I'.<bJ4654:D
S:&'$;-'):615'$36&+3)+.G:&0,&%/)$33;0)+.
&'%) 1,K$0+&6) $2) +.I,11,&$06) *%01,7
&$/%/=) &'%0%) ,0%) ,) .;19%0) $2) 5,&'$:$-+3
50$3%//%/) +.) A'+3') /;3') +.G:&0,&%/) ,0%
&'%)1$/&)50$1+.%.&)2%,&;0%),.*)&';/)*%7
I &%01+.%) &'%) '+/&$:$-+3) 5+3&;0%B) h615'$7
36&+3) +.G:&0,&%/) ,0%) 2$01%*) +.) +.I,11,7
3EGAH=)NMON )6H7' :6HG43E<9' BZ' (A6EH7AEH4
&$06)$0)50$:+2%0,&+@%)3$.*+&+$./),.*)+.)&'%
4A:' B:623DP' G:63;5DIHJ56' DJ::;:D' E>' 2E<E<HIJ:56
:,&&%0) 1,6) 0%50%/%.&) ,) 9%.+-.) $0) 1,:+-7
I:JJDP'253<J?'J?2GAEI?4:DP'56:'G6:D:<4'5NEH4'DHG:6L .,.&)50$3%//B)('%6)1,6)*+22%0)+.)&'%+0)367
bI35J'5<B'B::G';:<HJ:D9'(A:6:'3D'DJ37A4':B:25'3<'4A: &$:$-+3),55%,0,.3%),.*)*+/&0+9;&+$.=)1,6
G5G3JJ56?'NEB?'5<B'23<325J'3<4:6>5I:'B:6254343D' 3< 9%) 3$.G.%*) &$) &'%) 5%0+,*@%.&+&+,:) 3$17
4A3D'6:5I43E<'4E'<3>:B3G3<:9'IZ'+E6:'G6E<EH<I:BP 5,0&1%.&/)$2)&'%)@,/3;:,0)/6/&%1)Y/;5%07
:;:<' <EBHJ56P' 2E<E<HIJ:56' I:JJ' 3<bJ4654:D G3+,:) ,.*) *%%5) 5%0+@,/3;:,0) *%01,&+&+/Z=
56EH<B';:DD:JD'3<'5'B6H7'6:5I43E<'4E'5' 'NJEI8:69 $0) 1,6) $33;0) *+22;/%:6) &'0$;-'$;&) &'%
3$::,-%.$;/) &+//;%) Y*+22;/%) *%01,&+&+/ZB
5,5;:,0) $0) .$*;:,0) :%/+$./B) ('+/) +/) &'% ('%6) 1,6) 9%) 3$.G.%*) ,:1$/&) %<3:;7
3,/%)A+&')*0;-)%0;5&+$./)Y/%%)R',5B)UfX /+@%:6) &$) &'%) 5,5+::,06) *%01+/) Y+.&%02,3%
I /%% J+-B) _7V_jZ) ,.*) +&) +/) ,:/$) &0;%) 2$0 *%01,&+&+/Z) ,.*) /5,0%) &'%) /;97%5+*%07
*%%57/%,&%*) +.G:&0,&%/) +.) :;5;/) %06&'%7 1,:) 3$15,0&1%.&) $0) 1,6) %<'+9+&) 50$7
3EGAH=)NMO: d643I56359' BZ' %A565I4:63D43I' E>
4A3D'6:5I43E<'3D'5'DG56D:P'G:63;5DIHJ56'J?2GAEI?43I
3<bJ4654:' K34A' >:K' :ED3<EGA3JD9' /E4:' 4A:' DJ37A4
:B:25'3<'4A:'B:623D'5<B'56EH<B'4A:'GED4I5G3JJ56?
;:<HJ:D9' IZ' &37A:6' 257<3bI543E<' 6:;:5JD' D:G565L
43E<'E>'IEJJ57:<'NH<BJ:D'N?':B:25'5<B'DG56D:'3<L
4:6D43435J'3<\52254E6?'3<bJ4654:'K34A':ED3<EGA3JD9
Q N;5%0G3+,:)5%0+@,/3;:,0)+.G:&0,&%/),0%
$2&%.) ,33$15,.+%*) 96) /%3$.*,06
0%,3&+$./) $2) &'%) %5+*%01+/B) h617
5'$+*) 3%::/) /;00$;.*) &'%) @,/3;:,0
3',..%:/) +.) ,) /:%%@%:+4%) 2,/'+$.) 9;&
$2&%.) %<&%.*)*+22;/%:6) &$)&'%)%5+*%07
1+/=) A'+3') 1,6) 0%@%,:) 2$3,:) 5,0,7
4%0,&$/+/) +.) &'%/%) ,0%,/B) R:+.+3,::6=
&'%/%) 3',.-%/) ,0%) $2&%.) 3',0,3&%07
+>%*) ,/) 5,:5,9:%) G-;0,&%) %06&'%1,/
/;3') ,/) %06&'%1,) ,..;:,0%) 3%.7
&0+2;-;1=)9;&)5$:61$05'+3):+-'&)%0;57
&+$.=) *0;-) %0;5&+$./) Y/%%) J+-B) _7V_SZ=
$0) +./%3&) 9+&%/)3,.) 50$*;3%) ,) /+1+:,0
'+/&$5,&'$:$-+3)5+3&;0%B
Q h615'$36&+3)3;2G.-)$2)@%.;:%/)A+&'7
$;&) +.@$:@%1%.&) $2) &'%) 5,5+::,06 3EGAH=)NMOS !<73EJ?2GAE3B' A?G:6GJ5D359' /H2:6EHD' ;5DIHJ56' IA5<<:JD' 56:' DH66EH<B:B' N?' 5776:L
9$*6),.*)&'%)%5+*%01+/)1,6)$33;0)+. 754:D'E>'3<\52254E6?'I:JJD'25B:'HG'E>'J?2GAEI?4:D'5<B':ED3<EGA3JD9'/E4:'4A:'G6E46HD3E<'E>':<BE4A:J35J
G-;0,&%)%06&'%1,/),.*)+.)*0;-)%0;57 I:JJD'3<4E'4A:'J523<5'E>'4A:D:';:DD:JD9
:!
3$;0/%)$2)*+/%,/%=),)*%G.+&%)*+,-.$/+/
+/)%<&0%1%:6)*+2G3;:&B
"EJ?2E6GAE<HIJ:56
,:H8EI?43I'.<bJ4654:D
S:&'$;-') .%;&0$5'+:/) ,0%) &'%) 3:,//+3) +.7
I,11,&$06)3%::/)$2),3;&%)9,3&%0+,:)+.2%37
&+$./=)&'%0%),0%)*+/%,/%/)+.)A'+3').%;&0$7
5'+:/)*$1+.,&%)&'%)'+/&$5,&'$:$-6=)%@%.
+.) &'%) ,9/%.3%) $2) ,) 9,3&%0+,:) 3,;/%B) C.
56$*%01,) -,.-0%.$/;1=) 1,//+@%) .%;7
&0$5'+:+3) +.G:&0,&+$.) :%,*/) &$) /&%0+:%) ,97
/3%//%/=)90%,4*$A.)$2)&'%)&+//;%=),.*);:7
3%0,&+$.) Y/%%) R',5B) ^!ZB) C.) *%01,&+&+/
'%05%&+2$01+/=).%;&0$5'+:/),33;1;:,&%)+. 3EGAH=)NM!T 056IE3B5J'765<HJE259'.<'4A:'B:623DP'<H2:6EHD'Y<58:BZ'4HN:6IJ:D'IE<D3D43<7'E>':G34A:L
&'%)&+5/)$2)*%01,:)5,5+::,%),.*)2$01)5,57 J3E3B'I:JJD'5<B'DI5<4'J?2GAEI?4:D'56:'D::<9'(A:'E;:6J?3<7':G3B:623D'3D'546EGA3I9
+::,06) ,9/3%//%/) Y/%%) J+-B) _7V^Z) &',&) 50%7
3%*%) &'%) *%01$:6&+3) 9:+/&%0) 2$01,&+$.
20$1) :+?;%2,3&+$.) ,.*) ,9/3%//) 2$01,&+$. 5'+:/) +.) &'%) .%30$9+$&+3) ,0%,) $2) -0,.;7
*%/30+9%*) +.) O+/&;09,.3%/) $2) O%01,:7
$0)20$1)0%5:,3%1%.&)$2)50%7%<+/&+.-)&+//;% :$1,) ,..;:,0%) $0) .%30$9+$/+/) $.%) 1,6
T5+*%01,:)R$'%/+$.)Y/%%),:/$)R',5B)]cZB
96)G90$'+/&+$36&+3)+.G:&0,&%),.*)G90$/+/B /;/5%3&) ,.) ,//$3+,&%*) +.I,11,&$06
C.)%06&'%1,)%:%@,&;1)*+;&+.;1=).%;&0$7
N,03$+*,:)-0,.;:$1,/)Y/%%)R',5B)V]^Z 9$A%:) *+/%,/%B) T.*$30+.$5,&'+%/) 3,.
5'+:/),0%)&'%)50%*$1+.,.&)3%::/)3%.&%0+.-
,0%) &65+3,::6) 3',0,3&%0+>%*) 96) .,4%* ,:/$)9%),//$3+,&%*)A+&')&'%/%)*+/$0*%0/=
,0$;.*) /;5%0G3+,:) ,.*) 1+*7*%01,:) @%/7
.$*;:%/) 3$./+/&+.-) $2) %5+&'%:+$+*) 3%::/= *+,9%&%/)1%::+&;/)+/),)3:,//+3)%<,15:%),/7
/%:/=) A'+3') %<'+9+&) G90+.$+*) '$1$-%.+7
$33,/+$.,:) h,.-',./) -+,.&) 3%::/=) ,.* /$3+,&%*) A+&') .%30$9+$/+/) :+5$+*+3,B) H2
>,&+$.) $2) &'%+0) A,::/) Y&$<+3) '6,:+.Z) ,.*
$.:6) ,) /1,::) .;19%0) $2) :615'$36&%/ 3$;0/%=)0'%;1,&$+*).$*;:%/)3,.)9%),//$7
/+-./) $2) @,/3;:+&+/) Y/%%) R',5B) V__ZB) ('%
YJ+-B)_7!fZB)N+:+3,=)>+03$.+;1=),.*) 9%06:7 3+,&%*)A+&')0'%;1,&$+*),0&'0+&+/)9;&)3,.
.%;&0$5'+:)+/),:/$)&'%)50%*$1+.,.&)3%::)+.
:+;1) -0,.;:$1,/) ,.*) ,) .;19%0) $2) 2$07 ,:/$)$33;0),/),)0%/;:&)$2)&0,;1,)+.)/$1%
&'%) %,0:6) /&,-%/) $2) &'%) 1$0%) 3$11$.
%+-.79$*6) -0,.;:$1,/) 1,6) ',@%) /;3' 3;&,.%$;/) :$3,&+$./B) O0;-/) 1,6) ,:/$
.%30$&+>+.-)@,/3;:+&+/)Y/%%)J+-B)_7VbZB)L%;7
'+/&$5,&'$:$-+3)2%,&;0%/B 3,;/%)&'%/%)0%,3&+$./B)
&0$5'+:/),:/$)0%50%/%.&)&'%)1,K$0+&6)$2)&'%
#0,.;:$1,&$;/) 0%,3&+$./) $2) &'%) /4+. C.2%3&+$;/) -0,.;:$1,/) A+&') ,) /,03$+7
$2&%.) 1,//+@%) +.I,11,&$06) +.G:&0,&%) +.
3$150+/%) ,) :,0-%) /5%3&0;1) $2) '+/&$7 *,:),55%,0,.3%)1,6)$33;0)+.)&;9%03;:$7
,3;&%) 2%90+:%) .%;&0$5'+:+3) *%01,&$/+/=
5,&'$:$-+3) 2%,&;0%/B) [,:+/,*+.-) -0,.;:$7 /+/=) /65'+:+/=) :%+/'1,.+,/+/=) :%50$/6=) $0
A'+3') +/) ,33$15,.+%*) 96) 50$.$;.3%*
1,/) /;00$;.*) .%30$9+$&+3) ,0%,/) $2) &'% 2;.-,:) +.2%3&+$./B) L%30$/+/) 3,.) ,:/$) *%7
/;97%5+*%01,:)%*%1,)Y/%%)R',5B)^VZB
3$..%3&+@%)&+//;%)A+&')'+/&+$36&%/)+.)0,7 @%:$5)A+&'+.)&'%)-0,.;:$1,)50$5%0=),/)+/
*+,:) ,:+-.1%.&) YJ+-B) _7!VZB) #0,.;:$1, &'%)3,/%)2$0)G90+.$+*).%30$/+/)+.)/,03$+7
,..;:,0%=).%30$9+$/+/):+5$+*+3,=)0'%;1,7 *$/+/=) 3,/%,&+$.) +.) &;9%03;:$/+/=) $0) &'%
-65<HJE254EHD'#:5I43E<D &$+*) .$*;:%/=) ,.*) &'%) K;<&,7,0&+3;:,0 .%30$/+/)*%@%:$5+.-)+.)163$&+3)-0,.;:$7
N4+.)+/),.)+*%,:)&+//;%)2$0)-0,.;:$1,)2$07 .$*;:%/)$2)/65'+:+/)9%:$.-)&$)&'+/)-0$;5B 1,/B)`,.6)$2)&'%)+.2%3&+$;/)-0,.;:$1,/
1,&+$.) +.) A'+3') '+/&+$36&%/) 5:,6) ,) 4%6 ('%/%) 0%,3&+$./) 1,6) ',@%) /+-.+G3,.3% ,0%),//$3+,&%*)A+&')%5+*%01,:)'65%05:,7
0$:%B)S:&'$;-')&'%/%)3%::/),0%)+.@$:@%*),& ,/) /+-./) $2) /6/&%1+3) *+/%,/%B) J$0) %<,17 /+,=) $2&%.) %<'+9+&+.-) +.&0,%5+*%01,:) ,97
$.%) &+1%) $0) ,.$&'%0) +.) 50,3&+3,::6) ,::) +.7 5:%=) A'%.) &'%0%) ,0%) 50$1+.%.&) .%;&0$7 /3%//%/)+.)A'+3')&'%)3,;/,&+@%)$0-,.+/1
I,11,&$06)50$3%//%/=)+&)+/)$.:6)&'%)50$7
:+2%0,&+$.),.*)2$3,:),--0%-,&+$.)$2)'+/&+$7
36&+3) 3%::/) &',&) 1,6) 9%) &%01%*) ,
;5#9./)(#B) D'%.) /;3') 3%::/) ,0%) 3:$/%:6
3:;/&%0%*) &'%6) 0%/%19:%) %5+&'%:+,:) &+//;%=
'%.3%)&'%)*%/+-.,&+$.)43&$"4/&)&*%-4//'B)O%7
@%:$51%.&) $2) -+,.&) 3%::/=) /&$0,-%) $2
5',-$36&$/%*) 1,&%0+,:=) ,.*) &'%) ,*1+<7
&;0%) $2) +.I,11,&$06) 3%::/=) /;3') ,/) :617
5'$36&%/=) 5:,/1,) 3%::/=) ,.*) %$/+.$5'+:/=
1,6) 0%.*%0) &'%) '+/&$:$-+3) 5+3&;0%) $2) ,
-0,.;:$1,&$;/)0%,3&+$.)1$0%)3$15:%<B)($
&'%/%) ',@%) &$) 9%) ,**%*) @,/3;:,0) 3',.-%/
,.*) ,:&%0,&+$./) +.) &'%) G90$;/) /&0;3&;0%) $2
&'%)3$..%3&+@%)&+//;%B)#0,.;:$1,/),:1$/&
,:A,6/):%,*)&$)*%/&0;3&+$.)$2)50%7%<+/&+.-
&+//;%=) 5,0&+3;:,0:6) %:,/&+3) G9%0/=) ,.*) +.
/;3') +./&,.3%/) 0%/;:&) +.) ,&0$5'6=) G90$/+/=
$0)/3,00+.-B)(+//;%)*,1,-%)$0)*%/&0;3&+$.
1,.+2%/&/) %+&'%0) ,/) .%30$9+$/+/) $0) G90+.7 3EGAH=)NM!O -65<HJE25' 5<<HJ56:9'!' K:JJLI36IH2DI63N:B' G5J3D5B3<7' 765<HJE25' 3D' D::<' 3<' 4A:' B:623D9
$+*) $0) 3,/%$;/) .%30$/+/=) $0) +&) 1,6) 0%/;:& /:I6EN3E43I'IEJJ57:<'3D'DH66EH<B:B'N?'A3D43EI?4:DP'J?2GAEI?4:DP'5<B'5'>:K'DI544:6:B'2HJ43<HIJ:54:B'735<4'I:JJD9
:"
3,.) 9%) 2$;.*=) $2&%.) +.) ,) 1;:&+.;3:%,&%
-+,.&) 3%::B) C.) &'%) *%01+/) &'%0%) +/) ,) 1+<7
&;0%) $2) 3%::/=) +.3:;*+.-) '+/&$36&%/=) %5+7
&'%:+$+*) 3%::/=) %$/+.$5'+:/=) .%;&0$5'+:/=
,.*):615'$36&%/B
C&)+/)$2&%.)*+2G3;:&)&$)3:,//+26)-0,.;:$7
1,&$;/)0%,3&+$./)A+&'+.)&'%)/4+.)96)&'%
'+/&$5,&'$:$-6) ,:$.%=) 2$0) %@%.) 3$17
5:%&%:6)*+22%0%.&)%&+$:$-+3)3$.*+&+$./)/;3'
,/) +11;.$5,&'+%/) ,.*) /$1%) 2$01/) $2
@,/3;:+&+/)1,6)*%@%:$5)-0,.;:$1,/B
S) /5%3+G3) 2$01) $2) -0,.;:$1,&$;/) 0%7
,3&+$.)0%/;:&/)A'%.)&'%)3%::;:,0)+.G:&0,&%
3$./+/&/) ,:1$/&) %<3:;/+@%:6) $2) &'%) 4%6
-0,.;:$1,)3%::=)&'%)"&'$&)-8$4B)H.%)50$57
%0&6) $2) &'+/) 3%::) +/) +&/) 3,5,3+&6) &$) /&$0%
5',-$36&$/%*) 1,&%0+,:B) C.) <,.&'$1,7
&$;/) 0%,3&+$.) 5,&&%0./=) '+/&+$36&%/) &,4% 3EGAH=)NM!! *6?4A:25'<EBEDH29'!'IA6E<3I'765<HJE254EHD'3<\52254E6?'3<bJ4654:'K34A'735<4'I:JJD
;5) ,.*) /&$0%) 2,&) ,.*) ,0%) &';/) &0,./7 :O4:<BD'5JE<7'4A:'4A3I8:<:B'D:G4H2'3<4E'4A:'5B]5I:<4'>54'JENHJ:9
2$01%*)+.&$)2$,1)3%::/B)('%6),0%)*+/&0+97
;&%*) %+&'%0) *+22;/%:6=) ,/) +/) &'%) 3,/%) +.
*+22;/%).$01$:+5%1+3)<,.&'$1,&$/+/=)$0
,/) ,.) ,--0%-,&%) +.G:&0,&%) 1+1+34+.-) ,
&;1$0=) ,/) +.) &'%) <,.&'$1,/) $33;00+.-
+.) &'%) '65%0:+5$50$&%+.%1+,/) ,.*) <,.7
&'%:,/1,)Y/%%)R',5B)^]ZB)
C3N6EHD'):623D'5<B'*O465I:JJHJ56'
+5463O YN%% J+-B)_7V=)OW\Z
N3:%0$/+.-) 50$3%//%/) $2) &'%) /4+.) +.@$:@%
1,+.:6) &'%) 3$..%3&+@%) &+//;%) $2) &'%) *%07
1+/) Y/%%) J+-/B) _7V=) OW\=) ,.*) _7VUZ) 9;&
;/;,::6)0%I%3&)*6.,1+3)3',.-%/)$2)/&0;37
&;0%),.*)2;.3&+$.)&',&)+.@$:@%)50,3&+3,::6
,::)3$15,0&1%.&/)$2)&'+/)$0-,.B)('%)',::7
1,04) $2) /3:%0$*%01,) Y/%%) R',5B) V]aZ) +/ 3EGAH=)NM!" /EBHJ56';5DIHJ343D9'(A:'IA565I4:63D43I'>:54H6:D'3JJHD4654:B'56:'D:;:6:';5DIHJ343D'K34A'<:L
&'%) '$1$-%.+>,&+$.) ,.*) *%./%) 5,34+.- I6ED3D'E>'4A:'J567:';:DD:J'K5JJ'5<B'EIIJHD3E<'E>'4A:'JH2:<9'/:I6ED3D'E>'4A:'>54'JENHJ:D'3D'G6:D:<4P'5D'K:JJ
$2) &'%) 3$::,-%.) 9;.*:%/=) ,) .,00$A+.-) $2 5D'5<'5IH4:'5<B'IA6E<3I'3<\52254E6?'I:JJ'3<bJ4654:9
&'%)+.&%02,/3+3;:,0)3:%2&/)A+&'+.)&'%)0%&+37
;:,0)*%01+/=),.*)&'%)*+/,55%,0,.3%)$2)&'% &65+3,:) '6,:+.+>,&+$.) $2) &'%) 5,5+::,06 R',5B) V^cZ=) &'%) 2,;:&6) 3$::,-%.) 3,..$&
9$;.*,06) 9%&A%%.) &'+/) 5$0&+$.) $2) &'% @%//%:/B) C.) :+3'%.) /3:%0$/;/=) &'%0%) +/) , 9%) 0%3$-.+>%*) '+/&$5,&'$:$-+3,::6=) ,.*
*%01+/) ,.*) &'%) 5,5+::,06) 9$*6B) ('%0%) +/ 1,//+@%) %*%1,) $2) &'%) 5,5+::,06) 9$*6 $.:6) &'%) 0%:,&+@%) +.30%,/%) $2) %:,/&+3) &+/7
,:/$) ,) *+1+.;&+$.) $2) &'%) /1,::) 5,5+::,06 ,.*) ,) *%./%) :615'$36&+3) +.G:&0,&%) &',& /;%)1,6)+.*+3,&%)&',&)/$1%&'+.-),9.$07
,.*) /;95,5+::,06) @%//%:/=) A'+3') ,55%,0 +.+&+,::6) ';-/) &'%) %5+*%01+/) ,.*) :,&%0 1,:)',/)$33;00%*)+.)&'%)*%01+/B)C.)-%.7
.,00$A%*=) ,.*=) +.) &'%) %,0:6) /&,-%/=) , /%5,0,&%/)&'%)%*%1,&$;/)5,5+::,06)9$*6 %0,:+>%*) %:,/&$:6/+/=) ,) 20,-1%.&,&+$.) $2
5%0+@,/3;:,0) :615'$36&+3) +.G:&0,&%) ,.* 20$1)&'%)0%&+3;:,0)*%01+/)Y/%%)R',5B)_^ZB %:,/&+3)G9%0/)+/)&'%)'+/&$5,&'$:$-+3)/;97
%*%1,B)('%)+150%//+@%)&'+34%.+.-)$2)&'% S/)/3:%0$/+/)/%&/)+.=)&'%0%)+/),:/$),)*+/,57 /&0,&%)$2)&'%)3:+.+3,:),55%,0,.3%)$2)3;&+/
*%01+/).$&)$.:6)0%/;:&/)20$1),.)+.30%,/% 5%,0,.3%)$2)%:,/&+3)&+//;%)20$1)&'%)5,5+:7 :,<,=) ,.*) &'%) 20,-1%.&,&+$.) ,.*) 3;0:%*
$2) +&/) G90$;/) 3$15$.%.&/) 9;&) +/) ,:/$ :,06)9$*6X)&'%)3$.3$1+&,.&)+.@$:@%1%.& ,.*)3:;15%*),55%,0,.3%)$2)%:,/&+3)G9%0/
3,;/%*) 96) &'%) G90$/+/) $2) &'%) /;5%0G3+,: $2) &'%) %5+*%01+/) +.3:;*%/) '6*0$5+3) *%7 ,0%) /+1+:,0:6) *+,-.$/&+3) +.) 5/%;*$<,.7
:,6%0/) $2) &'%) /;93;&,.%$;/) 2,&) &',&) 2$:7 -%.%0,&+$.) $2) 9,/,:) 3%::/=) ,&0$5'6=) ,.*= &'$1,) %:,/&+3;1) Y/%%) R',5B) V^cZB) H.
:$A/) :615'$36&+3) +.G:&0,&+$.) ,.*) ,) '+/7 ,&) &'%) /,1%) &+1%=) '65%04%0,&$/+/B &'%) $&'%0) ',.*=) +.) ,3&+.+3) %:,/&$/+/=) &'%
&+$36&+3)0%,3&+$.B R',.-%/) +.) &'%) K;.3&+$.,:) >$.%) +.) &'+/ '+/&$:$-+3) /;9/&0,&%) $2) *%01,&$'%:+$/+/=
N3:%0$*%01$+*)3',.-%/)1,6)9%)2$;.* 3$.*+&+$.) 1,6) $33,/+$.,::6) :%,*) &$) , ,::) 3$15$.%.&/) $2) &'%) /;5%0G3+,:) 3$.7
+.) &'%) &$<+3) $+:) /6.*0$1%) ,.*) h7&0657 /%5,0,&+$.) $2) &'%) %5+*%01+/) 20$1) &'% .%3&+@%) &+//;%) ,0%) +.@$:@%*) Y/%%) R',5B
&$5',.) *+/%,/%=) %$/+.$5'+:+3) 2,/3++&+/ *%01+/),.*)&';/)&$)9:+/&%0)2$01,&+$.B) acZB)T<3%5&)2$0),).,00$A)-0%.>)>$.%)9%7
Y/%%) R',5B) ^]Z=) ,.*) 1+<%*) 3$..%3&+@% J,;:&6) /6.&'%/+/) $0) 30$//7:+.4+.-) $2 :$A) &'%) %5+*%01+/=) &'%) 5,5+::,06) 9$*6
&+//;%)*+/%,/%X)&'%6),:/$)$33;0)+.)5,3'67 3$::,-%.) 0%/;:&/) +.) ,) .;19%0) $2) A%::7 ,.*)&'%)/;5%0G3+,:):,6%0/)$2)&'%)0%&+3;:,0
*%01$5%0+$/&$/+/=) A'%0%) ,.) +.30%,/%) $2 *%G.%*)*+/%,/%/)$0)/6.*0$1%/)9;&):%,*/ *%01+/) ,0%) G::%*) A+&') 3:;15%*) ,.*
G90$9:,/&/) ,.*) -0$;.*) /;9/&,.3%) ,37 &$) 0%:,&+@%:6) 2%A) 3',0,3&%0+/&+3) '+/&$7 3;0:%*) G9%0/) &',&) 50$-0%//+@%:6) 9%3$1%
3$15,.6) &'%) /3:%0$&+3) 3',.-%/=) ,.*) +. 5,&'$:$-+3)3',.-%/B)C.)&'%)*+22%0%.&)&65%/ '$1$-%.+>%*) ,.*) 9,/$5'+:+3B) ('%6) ,0%
5$05'60+,) 3;&,.%,) &,0*,=) A'+3') /'$A/ $2) &'%) T':%0/7O,.:$/) /6.*0$1%) Y/%% /&,+.%*)96)*6%/)&',&)',@%),.),2G.+&6)2$0
:9
%:,/&+3) &+//;%) ,.*) &';/) '+/&$3'%1+3,::6 &'%)+.&%0:$9;:,0)/%5&,=)G90$/+/=)&'%),33;7 ,.*)$&'%0)9,3&%0+,:),.*)2;.-,:)$0-,.+/1/Z
9%',@%)/+1+:,0)&$)%:,/&+3)G9%0/B 1;:,&+$.) $2) '+/&+$36&%/) ,.*) -+,.&) 3%::/= $0),)/5%3+G3)*+/%,/%)50$3%//B)C.)/,03$+*$7
N;3')50$2$;.*)3',.-%/)$2)*%01,:),07 ,.*)1,6)0%/;:&)+.)@,/3;:,0)50$:+2%0,&+$.B /+/=) 2,&) +/) -0,*;,::6) 0%5:,3%*) 96) %5+&'%7
3'+&%3&;0%) 9%3$1%) 3:+.+3,::6) ,55,0%.&P j6) 3$.&0,/&=) +.) .$*;:,0) @,/3;:+&+/) YJ+-B :+$+*) 3%::) .$*;:%/) ,.*=) +.) :615'$1,=)96
('%) &,;&) ,.*) G01) 3$..%3&+@%) &+//;%) +. _7!^Z=):,0-%7@%//%:)@,/3;:+&+/)+.)&'%)/%5&,: /5%3+G3) :615'$1,&$;/) +.G:&0,&%/B) C.) :;7
/3:%0$*%01,)0%I%3&/)&'%)/3:%0$&+3)&%<&;0% ,0%,) +/) ,33$15,.+%*) 96) .%30$/+/) $2) &'% 5;/)5,..+3;:+&+/=),)*%./%):615'$36&+3)+.7
,.*) '$1$-%.+>,&+$.) $2) &'%) 3$::,-%. 2,&=) 2$::$A%*) 96) '+/&+$36&+3) 0%,3&+$./= G:&0,&%)$2)&'%)/%5&,:),.*):$9;:,0)&+//;%)*%7
9;.*:%/) /%%.) '+/&$:$-+3,::6X) &'%) :$$/% %5+&'%:+$+*) 3%::) -0,.;:$1,/) A+&'+.) &'% &%01+.%/) &'%) '+/&$5,&'$:$-+3) 5+3&;0%=) ,/
2$:*/) $2) 3;&+/) :,<,) ,0%) ,) 0%/;:&) $2) &'% 2,&) :$9;:%/=) ,.*) ,) G90$&+3) 0%,3&+$.) /3:%7 *$%/)+.@$:@%1%.&)$2)@%//%:/)1,.+2%/&+.-
20,-1%.&,&+$.)$2)%:,/&+3)G9%0/X)&'%)3$97 0$/+.-) &'%) %.&+0%) /;93;&,.%$;/) 2,&B) H. ,/)@,/3;:+&+/B)e$A%@%0=)*%/&0;3&+$.)$2)2,&=
9:%/&$.%7:+4%) 5,5;:%/) +.) 5/%;*$<,.&'7 &'%) $&'%0) ',.*=) :$9;:,0) 5,..+3;:+&+/) 0%7 :+?;%2,3&+$.=) ,.*) :+5$-0,.;:$1,) 1,6) 9%
$1,) %:,/&+3;1) 3$00%/5$.*) &$) &'%) 2$3,: /;:&/)20$1)&'%).%30$/+/)$2)2,&):$9;:%/),/ /$)50$.$;.3%*)&',&)&'%)@,/3;:,0)3$15$7
,--0%-,&+$.) $2) &'%) 5,&'$:$-+3,::6) ,:7 &'%)50+1,06)%@%.&=),/)+/)&'%)3,/%)+.)+*+$7 .%.&) 3,.) ',0*:6) 9%) 0%3$-.+>%*=) ,.*) &'%
&%0%*) %:,/&+3) 1,&%0+,:X) ,.*) &'%) 3$,0/%7 5,&'+3) .$*;:,0) 5,..+3;:+&+/) Y/%%) R',5B '+/&$5,&'$:$-+3)5+3&;0%)1,6)0%/%19:%)+*7
.%//) $2) /4+.) :+.%/) ,.*) /;02,3%) 50$G:%) +. _aZ=) 2$::$A%*) 96) ,.) ,33;1;:,&+$.) $2 +$5,&'+3).$*;:,0)5,..+3;:+&+/B
*%01,&$'%:+$/+/) ,0%) &'%) 3:+.+3,:) 1,.+7 .%;&0$5'+:/) ,.*) :%;4$36&$3:,/+,B) ('%
2%/&,&+$./) $2) &'%) 2$3,:) ,--0%-,&+$.) $2 :+5+*)1,&%0+,:)*%0+@%*)20$1).%30$&+3),*+7
5$36&%/)3$.&,+./)20%%),.*)%/&%0+G%*)3'$7
0d--*0(*)'#*!)./-0
%:,/&$&+3)1,&%0+,:B
:%/&%0$:=) .%;&0,:) 2,&/=) /$,5/=) ,.*) 20%% S34%01,.) Sj) %&) ,:P) H&'$)/);&-% D&#;9)'&'% )+
19V#((#$)58% ?>&9% D&'4#'4'6% =9% =/;)5&$"@
2,&&6) ,3+*/=) A'+3'=) +.) &;0.=) %<%0&) ,.) +.7
0d@%d(!/*$d0'C!('YN%% J+-B)_7V=)NZ I,11,&$06) /&+1;:;/B) e+/&+$36&+3) 3%::/
(&-% E4$")*% S#'4*% )9% F#$$459% =9#/8'&'=
!.*)%*B)j,:&+1$0%=)D+::+,1/)o)D+:4+./=
C.I,11,&$06)50$3%//%/)+.)&'%)/;93;&,.%7 1+-0,&%) +.&$) &'%) +.I,1%*) 2,&=) ,.*) 5',7 Vccb
$;/),*+5$/%)&+//;%)&,4%),)/:+-'&:6)*+22%0%.& -$36&$/+/) :%,*/) &$) 2$,1) 3%::) 2$01,&+$.B j,+:%6) TS) %&) ,:P) `,0-+.,:) >$.%) :615'$1,
3$;0/%)&',.)+.)&'%)3$..%3&+@%)&+//;%)$2)&'% T5+&'%:+$+*) -0,.;:$1,/) A+&') -+,.&) 3%::/ Y:$A7-0,*%)j)3%::):615'$1,)$2)1;3$/,7
,//$3+,&%*):615'$+*)&+//;%)&65%Z)$2)/4+.
*%01+/)9%3,;/%)$2)&'%)/5%3+G3),.,&$16)$2 1,6) ,:/$) 0%/;:&=) ,.*) ,::)&65%/)$2) G90$/+/ ,.*) /;93;&,.%$;/) &+//;%B) =(% C% ?.5;
&'%)/;93;&+/)Y/%%)R',5/B)b),.*)_aZB)C.I,17 1,6) *%@%:$5B) J,&) .%30$/+/) +/=) &'%0%2$0%= F#$")/ '%PVfVV=)Vcc_
1,&+$.)$2)/;93;&,.%$;/)2,&)0%I%3&/)%+&'%0 &'%) 50+1,06=) ,.*) +.I,11,&+$.) &'%) /%37 j+%*%01,.)(=)W$34%.)`=)R,09,::+*$)M`P)(eV
,.) +.I,11,&$06) 50$3%//) $2) &'%) ,*+5$/% $.*,06=)%@%.&)+.)&'+/)&65%)$2)5,..+3;:+&+/B ,.*)(e!):615'$36&%)*%@%:$51%.&),.*
0%-;:,&+$.)$2)(e)3%::71%*+,&%*)+11;.%
&+//;%)50$5%0)$0)&'%)2,&):$9;:%/)Y/%%)J+-B ('%) +.'%0%.&) 3,5,3+&6) $2) &'%) ,*+5$/%
0%/5$./%/) $2) &'%) /4+.B) C% 19<4'$% D45(#$)/
_7V=)hZ)$0),)50$3%//),0+/+.-)+.)&'%)/%5&,)Y/%% &+//;%) &$) 0%/5$.*) &$) 5,&'$:$-+3) /&+1;:+ ?8(3%F5)- (P]=)!ffU
J+-B)_7V=)N%5ZX)+&)3,.)+.@$:@%)/1,::)@%.;:%/ ,:/$) '$:*/) &0;%) 2$0) *+/%,/%) 3$.*+&+$./ R%00$.+) h) %&) ,:P) =9% 1//.'$5#$4*% W.&*4% $)% ?>&9
,.*) 3,5+::,0+%/) $0) ,0+/%) 20$1) &'%) :,0-%0 &',&),22%3&)&'%)/;93;&,.%$;/)&+//;%)$.:6 T8(3")(#B) H<2$0*=) j:,34A%::) N3+%.3%/
1;/3;:,0) @%//%:/B) ('%) '+/&$5,&'$:$-+3 /%3$.*,0+:6) $0) 0%/;:&) 20$1) %<$-%.$;/ h&*=)Vcca
R0$A/$.) SL=) `,-0$) R`P) ('%) 3;&,.%$;/
1,.+2%/&,&+$./) 1,6) @,06) ,33$0*+.-:6B 2,3&$0/B) (0,;1,&+3) 5,..+3;:+&+/) :%,*/) &$ 5,&'$:$-6) $2) :;5;/) %06&'%1,&$/;/P) S
N1,::7@%//%:) 5,&'$:$-6) +/) ;/;,::6) 1,.+7 .%30$/+/)$2)2,&):$9;:%/),.*),)0%,3&+@%)+.7 0%@+%AB)C%G.$#9%F#$")/ '!PV=)!ffV
2%/&%*) :$3,::6=) +.@$:@+.-) &'%) .%+-'9$0+.- I,11,&$06) ,.*) -0,.;:$1,&$;/) &+//;% R0$A/$.) SL) %&) ,:P) R;&,.%$;/) @,/3;:+&+/P) S
2,&):$9;:%/=)A'%0%,/)&'%)*%/&0;3&+$.)$0)$37 0%/5$./%B) S2&%0) &'%) +.K%3&+$.) $2) $+:/) $0 0%@+%AB)C%G.$#9%F#$")/ "%PV_V=)!ff^
3:;/+$.)$2),):,0-%0)@%//%:)+.I;%.3%/)&'%)%.7 T:*%0) OT) %&) ,:P) T4<45P'% H&'$)3#$")/);8% )+% $"4
/+:+3$.%=) :,0-%) 36/&+3) 3,@+&+%/) 1,6) 9%
?>&9=) a&') %*B) ['+:,*%:5'+,=) h+55+.3$&&
&+0%)&+//;%)/%-1%.&B)O%/&0;3&+$.)$2)2,&=)9% 2$01%*=) A'%0%,/) ,2&%0) &'%) +.K%3&+$.) $2 D+::+,1/),.*)D+:4+./=)!ffU
+&)$2),) &0,;1,&+3)$0)+.I,11,&$06).,&;0%= 5%.&,>$3+.%=) 2$0) +./&,.3%=) G90$/+/) ,.* `,-0$) R`) %&) ,:P) #0,.;:$1,) ,..;:,0%) ,.*
:%,*/)&$)&'%)0%:%,/%)$2)2,&&6),3+*/)&',&)96 /3:%0$/+/) *$1+.,&%) &'%) '+/&$5,&'$:$-+3 .%30$9+$/+/):+5$+*+3,) &+//;%)0%,3&+$./),/
&'%1/%:@%/),0%)/&0$.-)+.I,11,&$06)/&+17 5+3&;0%B) H+:6) /;9/&,.3%/) 1,6) 0%1,+. ,) 1,.+2%/&,&+$.) $2) /6/&%1+3) *+/%,/%B
H.(%F#$")/ '*P]f=)Vcc_
;:+=) ,&&0,3&+.-) .%;&0$5'+:/) ,.*) /3,@%.-%0 A+&'+.) &'%) ,*+5$/%) &+//;%) 2$0) :$.-) 5%0+7 `,-0$) R`) %&) ,:P) 7"4% T8(3")&*% F5)/&+45#$&)9'B
'+/&+$36&%/),.*)1,30$5',-%/X)5',-$36&$7 $*/) A+&'$;&) 3,;/+.-) ,) /+-.+G3,.&) &+//;% L%A)n$04=)D+:%67h+//=)C.3B=)!ff_
/+/)$2)*%/&0$6%*)2,&);/;,::6)0%/;:&/)+.):+5$7 0%,3&+$.X) $+:) 36/&/) %@$:@%) &',&) ,0%) /;07 `3k%%) [e) %&) ,:P) F#$")/);8% )+% $"4% ?>&9=) ^0*
-0,.;:$1,)2$01,&+$.B 0$;.*%*) 96) 1;:&+5:%) :,6%0/) $2) 0%/+*;,: %*B) ['+:,*%:5'+,=) T:/%@+%0) `$/96=
N%5&,:) 50$3%//%/) &',&) 2$::$A) +.I,17 !ff]
3$..%3&+@%) &+//;%=) /$) &',&) &'%) &+//;%) ,37
`;05'6) #J=) `+'1) `R) M0P) 19V#((#$)58% D&'@
1,&$06)3',.-%/)$2)&'%)&0,9%3;:,0)@%//%:/ ?;+0%/),)ENA+//)3'%%/%F),55%,0,.3%B)S.7 4#'4'% )+% $"4% ?>&9=) SJC[) J,/3+3:%=) &'+0*
,0%) ;/;,::6) ,33$15,.+%*) 96) %*%1,=) +.7 +1,:) $0) @%-%&,9:%) $+:/) $2&%.) :%,*) &$) &;7 /%0+%/=)SJC[)N%5&%19%0)!ff_
G:&0,&+$.) $2) +.I,11,&$06) 3%::/=) ,.*) , 9%03;:$+*)$0):+5$5',-+3)-0,.;:$1,/)A+&' N3',%0:+) [=) `$/%0) jP) R'%1$4+.%P) 3$.&0$:) $2
'+/&+$36&+3) 0%,3&+$.B) ('+/) +/) &'%) 3:,//+3 1,//+@%)'+/&+$36&+3)0%,3&+$./=)2$,1)3%::/= 50+1,06) ,.*) 1%1$06) (73%::) &0,2G3B
1((.9)/%X4' "#P]b=)!ff]
,55%,0,.3%) +.) %06&'%1,) .$*$/;1) YJ+-B ,.*)/%3$.*,06)G90$/+/B \*%6) `RP) N4+.) *%.*0+&+3) 3%::/) +.) +11;.+&6
_7!!X)/%%)R',5B)_aZB)W%3;00+.-)/%5&,:)+.7 [,..+3;:+&+/) ,:/$) $33;0/) ,/) ,) 0%/;:&) $2 ,.*) ,;&$+11;.+&6B) C% 19<4'$&;% D45(#$)/
I,11,&+$.)1,6):%,*)&$),)90$,*%.+.-)$2 +.2%3&+$;/) ,-%.&/) Y3$33+=) 163$9,3&%0+,= ?8(3%F5)- (PV]fb=)!ffU
::
!"#$%&'()%#*+)*+#,*'--.%-)/+%0-'*1%
!"#$%&' !"#$"%#&'!(')%!*!+,-'.#"#*!/0#12-'
! 31.'42$5625$#'!('47%1
=>?@<;,"AB 2?C'J:DEB'BCW<ENG'EO'GT<N>'4T<N'<G
PEJIEGC='EO'M?BCC'L:FCBGA'UXV'CI<=CBJ<G-'UYV'=CBJ<G-
:N='UZV'?FIE=CBJ<G>'2?C'E@MCBJEGM'CI<=CBJ<G'<G'GCI[
:B:MC='OBEJ' M?C'=CBJ<G' KF' :'K:GCJCNM'JCJKB:NC
\ENC-'M?C'=CBJ:L[CI<=CBJ:L'D@NPM<EN>')CLES'M?C'=CB[
J<G'L<CG'M?C'G@KP@M:NCE@G'O:M'U?FIE=CBJ<GV>'#I<=CB[
J:L':IICN=:WCG-'G@P?':G'?:<B'OELL<PLCG':N='CPPB<NC =>?@<;,"AC 4P?CJ:M<P'EO'CI<=CBJ<G>'2?C'CI<=CBJ<G'<G':'GMB:M<QC=-'PEBN<QC='CI<M?CL<@J>'2?C'=CCICGM
:N=':IEPB<NC'GSC:M'WL:N=G-'KCW<N'<N'M?C'CI<=CBJ<G L:FCB'PENG<GMG'EO'K:G:L'PCLLG'U)*V'M?:M'BCGM'@IEN'M?C'K:GCJCNM'JCJKB:NC'EO'M?C'=CBJ:L[CI<=CBJ:L'D@NP[
K@M'PE@BGC'M?BE@W?'M?C'=CBJ<G':N=]EB'M?C'CI<=CBJ<G> M<EN'U.#_V>'2?CGC'PCLLG'=<OOCBCNM<:MC'<NME'M?C'PCLLG'EO'M?C'GI<NE@G'L:FCB'U4*V-'P?:B:PMCB<\C='KF':K@N=:NM
)LEE=' ;CGGCLG-' LFJI?:M<PG-' :N=' NCB;CG' PE@BGC =CGJEGEJ:L'GI<NCG>'4I<NE@G'PCLLG'C;CNM@:LLF'KCPEJC'WB:N@L:B'L:FCB'PCLLG'U+*V-'IBE=@P<NW'J:NF'EO'M?C
M?BE@W?'M?C'G@KP@M:NCE@G'O:M':N='CJCBWC'<NME'M?C PEJIENCNMG'EO'M?C'PEBN<QC='CN;CLEIC>'5LM<J:MCLF-'M?C'MCBJ<N:LLF'=<OOCBCNM<:MC='TCB:M<NEPFMCG'G?C='M?C<B
!6 =CBJ<G>'U5GC='S<M?'ICBJ<GG<EN'OBEJ'!>'7E;<P?-'0.>V N@PLC<':N='KCPEJC'M?C'GMB:M@J'PEBNC@J'U46V-':'PBEGG[L<NTC='NCMSEBT'EO'IBEMC<N':N='WLFPEL<I<=G>
2*2$)(--?& ()2$5.& ).--'& *4& 23.& .,$=.0+$'9
M.--&#$%.2$)&'2;=$.'&';11.'2&23(2&23.&<('(-
-(?.0& ).--'& ./3$<$2& =$44.0.%2& ,0*-$4.0(2$5.
,*2.%2$(-'& A'2.+& ).--'6& 20(%'$2& (+,-$4?$%1
).--'6& (%=& ,*'2+$2*2$)& ).--'D6& (%=& $%& 5$5*
(%=&$%&5$20*&'2;=$.'&';11.'2&23(2&23.0.&./8
$'2& -*%18-$5.=& .,$=.0+(-& '2.+& ).--'L& A'..
M3(,9&YYD9&^.)(;'.&<('(-&).--'&)(%&<.&./8
,(%=.=& $%& 2$'';.& );-2;0.& (%=& ;'.=& 2*& 0.8
)*%'2$2;2.& ';4S)$.%2& .,$=.0+$'& 2*& )*5.0
23.&.%2$0.&'#$%&';04().&*4&<;0%&,(2$.%2'6F6a
';)3&(&'2(02$%1&,*,;-(2$*%&$'&,0.';+.=&2*
)*%2($%&-*%18-$5.=&'2.+&).--'&7$23&./2.%8
'$5.&,0*-$4.0(2$5.&,*2.%2$(-9
8 P& -(01.& (+*;%2& *4& =(2(& ';,,*02'& 23.
./$'2.%).&*4&+;-2$,*2.%2&.,$=.0+(-&'2.+
=>?@<;,"AE 3N:MEJ<P' ;:B<[ ).--'&7$23$%&23.&<;-1.&0.1$*%&*4&23.&3($0
:M<EN' <N' CI<=CBJ:L' M?<PTNCGG> 4*--$)-.& <('.=& *%& 23.'.& 20($2'9cdGF& M.--'
8F' 3PB:L' GT<N>' 7F' #FCL<=' GT<N> 40*+& 23$'& 0.1$*%& (0.& (<-.& 2*& )*%20$<;2.
1EMC'M?:M'M?C'CI<=CBJ<G'<G'PEN[ 2*& 23.& 4*0+(2$*%& %*2& *%-?& *4& 23.& .%2$0.
G<=CB:KLF'M?<PTCB'<N'U8V'M?:N'U7V- ,$-*'.<().*;'& ;%$26& <;2& 2*& 23.& $%2.04*-8
<NPL@=<NW'M?C'PEJI:PM'L:FCBG'EO -$);-(0&.,$=.0+$'&('&7.--9GYdGF
M?C'GMB:M@J'PEBNC@J-':G'SCLL':G E3.&./$'2.%).&*4&(%&(==$2$*%(-&,0*1.%8
M?C' =CCICB' CI<=CBJ:L' L:FCBG> $2*0& ,*,;-(2$*%& *4& ).--'6& 7$23$%& 23.& ';08
U5GC=' S<M?' ICBJ<GG<EN' OBEJ' !> 4().& .,$=.0+(-& <('(-& -(?.06& $'& (-'*& ';,8
,*02.=&<?&(&%;+<.0&*4&-$%.'&*4&.5$=.%).6
7E;<P?-'0.>V 7
<*23&$%&5$20*&(%=&$%&5$5*9&E3.'.&,;2(2$5.
<('(-&'2.+&).--'&(,,.(0&2*&<.&)-*%*1.%$)6
,0*10.''& 0(,$=-?& 230*;13& "8,3('.& *4&23.
).--&)?)-.6&(%=&=$5$=.&$%40.e;.%2-?&=;0$%1
'2(<-.& '.-480.%.7(-& A0.2($%$%1& 0(=$*-(8
<.-.=& %;)-.*2$=.& -(<.-& *5.0& -*%1& ,.0$8
=>?@<;,"AG #I<=CBJ:L' ?F[
*='D9& P==$2$*%(--?6& 23.?& (0.& )(,(<-.& *4
ICBIL:G<:>' 8FICBIBEL<OCB:M<EN' EO ).--& =$5$'$*%& $%& 0.',*%'.& 2*& ./*1.%*;'
M?C'CI<=CBJ<G'P:N'EPP@B'=@C'ME (%=& .%=*1.%*;'& (1.%2'9& U(0-?& -$%.(1.
:' N@JKCB' EO' P:@GCG-' :G' J:N<[ 20()$%1& ./,.0$+.%2'& $%& 23.& .,$=.0+$'
OCGMC='<N'=<GC:GCG'G@P?':G'IGE[ $=.%2$S.=& 23(2& #.0(2$%*)?2.'& (0.& *01(8
B<:G<G' UI<PM@BC=V-' :G' SCLL' :G' L<[ %$N.=& $%2*& 5.02$)(-& )*-;+%'& *4& ,0*10.'8
P?CN' G<JILCR' P?BEN<P@G-' :MEI<P '$5.-?&=$44.0.%2$(2$%1&).--'6&2.0+.=&!"#$!%&
=CBJ:M<M<G-' L<P?CN' IL:N@G-' :N= '()*"%+)#,!%(-#./*0.#-19GadXG
;CBB@P:';@LW:B<G>'U5GC='S<M?'ICB[ E3.& '.)*%=& 2?,.& *4& ).--6& 23.& 20(%'$2
J<GG<EN'OBEJ'!>'7E;<P?-'0.>V (+,-$4?$%1&).--'&*4&23.&<('(-&-(?.06&(0$'.'
('& (& ';<'.2& *4& =(;132.0& ).--'& ,0*=;).=
<?&23.&$%40.e;.%2&=$5$'$*%&*4&'2.+&).--'9
,-('+(& +.+<0(%.& 7$23& ';04().8(''*)$8 0.1;-(2$*%6& (%=& '20;)2;0.& ,0*5$=.'& $%8 E3.'.& ).--'& ,0*5$=.& 23.& <;-#& *4& 23.& ).--
(2.=&-$,$='&A'..&M3(,9&YYD9 '$132& $%2*& .,$=.0+(-& =$44.0.%2$(2$*%& (%= =$5$'$*%'&%..=.=&4*0&'2(<-.&'.-480.%.7(-
b.0(2$%'& (0.& (& 4(+$-?& *4& $%2.0+.=$(2. '20;)2;0.9 (%=& (0.& 23.& +*'2& )*++*%& ).--'& $%& 23.
S-(+.%2'&(%=&(0.&23.&3(--+(0#&*4&(--&.,$8 E3.& <('(-& -(?.0& A'20(2;+& 1.0+$%(2$8 <('(-& )*+,(02+.%29& P42.0& ;%=.01*$%1
23.-$(-&).--'6&$%)-;=$%1&#.0(2$%*)?2.'&A0.8 5;+D&)*%2($%'&+$2*2$)(--?&()2$5.6&)*-;+8 '.5.0(-& ).--& =$5$'$*%'6& 23.'.& ).--'& 1$5.
5$.7.=& $%& 0.4'9& G& (%=& XD9& E3.?& '.05.& ( %(08'3(,.=& #.0(2$%*)?2.'& 23(2& (22()3& 5$( 0$'.&2*&23.&23$0=&)-(''&*4&.,$=.0+(-&<('(-
,0.=*+$%(%2-?& '20;)2;0(-& 0*-.& $%& 23. #.0(2$%& S-(+.%2'& AbZ& (%=& bGYD& 2*& 23. ).--'6& 23.&,*'2+$2*2$)& ).--'& 23(2& ;%=.01*
).--'9&J$42?84*;0&=$44.0.%2&4;%)2$*%(-& #.08 <('.+.%2& +.+<0(%.& N*%.& (2& 3.+$=.'8 2.0+$%(-& =$44.0.%2$(2$*%9& P-23*;13& -*%1
(2$%& 1.%.'& 3(5.& <..%& $=.%2$S.=& $%& 3;8 +*'*+.'&A'..&M3(,9&ZGD6&(22()3&2*&*23.0 <.-$.5.=&2*&=.2()3&40*+&23.&<('(-&-(+$%(
+(%'I!Y&.,$23.-$(-&#.0(2$%'&(%=&GF&3($0 ';00*;%=$%1& ).--'& 230*;13& =.'+*'*+.'6 2*& +$10(2.& 2*& (& +*0.& ';,.0S)$(-& A';,0(8
#.0(2$%'9! & E3.& )*8./,0.''$*%& *4 (%=&23(2&1$5.&0$'.&2*&).--'&*4&23.&+*0.&';8 <('(-D& ,*'$2$*%& $%& 23.& .,$=.0+$'6& 0.).%2
',.)$S)& #.0(2$%& ,($0'& $'& =.,.%=.%2& *% ,.0S)$(-6& =$44.0.%2$(2.=& .,$=.0+(-& -(?.0'9 .5$=.%).&3('& ';11.'2.=&23(2&('?++.20$)
).--& 2?,.6& 2$'';.& 2?,.6& =.5.-*,+.%2(- B-20('20;)2;0(-& (%(-?'$'& 0.5.(-'& 23.& ,0.'8 =$5$'$*%&*4&<('(-&).--'&0.-(2$5.&2*&23.&<('.8
'2(1.6& =$44.0.%2$(2$*%& '2(1.6& (%=& =$'.('. .%).& *4& +.+<0(%.8<*;%=& 5();*-.'& 23(2 +.%2& +.+<0(%.& )(%& =$0.)2-?& 1$5.& 0$'.
)*%=$2$*%& AE(<-.& F8XD9& J;023.0+*0.6& 23. )*%2($%& ,$1+.%2.=& +.-(%*'*+.'& 20(%'8 2*& (& ';,0(<('(-& =$44.0.%2$(2$%1& =(;132.0
)0$2$)(-&0*-.&*4&23.'.&+*-.);-.'&$'&;%=.08 4.00.=& 40*+& +.-(%*)?2.'& <?& ,3(1*)?2*8 ).--9!Q :%& 3;+(%'6& 23.& %*0+(-& 20(%'$2
')*0.=&<?&23.&%;+.0*;'&+(%$4.'2(2$*%' '$'9Y& E3.& ,$1+.%2& 7$23$%& +.-(%*'*+.' 2$+.& 4*0& (& <('(-& ).--6& 40*+& 23.& 2$+.& $2
*4& =$'.('.& 23(2& (0$'.& <.)(;'.& *4& +;2(8 )*%20$<;2.'&2*&23.&*5.0(--&'#$%&,$1+.%2(8 -*'.'&)*%2()2&7$23&23.&<('(-&-(?.0&2*&23.
2$*%'& $%& 23.'.& 1.%.'& A'..& E(<-.& F8XD9 2$*%& ,.0).$5.=& +()0*')*,$)(--?9Z& E3. 2$+.&$2&.%2.0'&23.&'20(2;+&)*0%.;+6&$'&(2
E3;'6&#%*7-.=1.&*4&#.0(2$%&./,0.''$*%6 <('(-&-(?.0&$'&23.&,0$+(0?&-*)(2$*%&*4&+$8 -.('2& GY& =(?'9& E0(%'$2& 230*;13& 23.& '20(8
!D
(=3.'$*%& *4& .,$=.0+(-& ).--'& (%=& 0.'$'8
!"#$%&'(*
2(%).& 2*& +.)3(%$)(-&'20.''&A0.5$.7.=& $%
3:;<=((&'#)>?%%=<#()'*)@=<?%&#)A=#=()?#B)@=<?%&#C5(('$&?%=B)9&(=?(=(
0.49& !GK& '..& (-'*& M3(,'9& YY& (%=& ZGD9
D5+1/ 5/191/ 01++-3)3E>73++12. 91+35+3)5++2/15012. O$23$%&.()3&).--&$'&(&=.'+*'*+(-&,-(e;.6
X X` 4@IB:K:G:L'TCB:M<NEPFMCG )@LLE@G'PENWCN<M:L'<P?M?FEG<OEBJ'CBFM?BE[ 73$)3& )*%2($%'& 23.& ,*-?,.,2$=.'& ,-(#*8
=CBJ:a'=<OO@GC'NENCI<=CBJELFM<P'//7' 1-*<$%6& =.'+*,-(#$%'& :& (%=& ::6& #.0(8
UTCB:M<N'XV 2*)(-+$%6& =.'+*?*#$%6& (%=& ,-(#*,3$-$%9
E0(%'+.+<0(%.& 1-?)*,0*2.$%'I=.'+*8
X b 4@IB:K:G:L'TCB:M<NEPFMCG' #I<=CBJELFM<P'//7'UCI<=CBJELFM<P'?FICB[
1-.$%'&G&(%=&!&(%=&=.'+*)*--$%'&:&(%=&::6
UI:LJEIL:NM:B'GT<NV TCB:MEG<GV
+.+<.0'& *4& 23.& )(=3.0$%& 4(+$-?I,0*8
Y X` 5IICB'GI<NE@G':N='WB:N@L:B'L:FCBG %P?M?FEG<G'K@LLEG:'EO'4<CJCNG 5$=.&23.&(=3.'$5.&,0*,.02$.'&*4&23.&./20(8
).--;-(0& ,*02$*%& *4& 23.& =.'+*'*+.'6
Z XY 6EBNC: 0CCGJ:NNcG'PEBNC:L'=FGMBEI?F
#%*7%&('&23.&2+%!9&O3.0.('&23.&./20().-8
d XZ 0@PEG:L'CI<M?CL<@J &?<MC'GIENWC'NC;@G -;-(0&=*+($%'&*4&23.&)(=3.0$%'&4*0+&,(02
e Xd ):G:L'TCB:M<NEPFMCG #I<=CBJELFG<G'K@LLEG:'G<JILCR *4&23.&)*0.6&23.&$%20().--;-(0&=*+($%'&$%8
'.02&$%2*&23.&,-(e;.6&-$%#$%1&23.+&2*&23.
f: Xf !@MCB'BEEM'G?C:M?-'?FICBIBEL<OCB:[ /:P?FENFP?<:'PENWCN<M:'MFIC'%a'OEP:L'NEN[ $%2.0+.=$(2.&S-(+.%2&A#.0(2$%D&)?2*'#.-8
M<;C'TCB:M<NEPFMCG-'I:LJEIL:NM:B' CI<=CBJELFM<P'//7 .2*%9&P-23*;13&=.'+*'*+.'& (0.&0.-(2.=
TCB:M<NEPFMCG 2*& (=3.0.%'& H;%)2$*%'6& 23.& -(22.0& (''*)$8
fK X9 1:<L'KC=-'CI<=CBJ:L':IICN=:WCG /:P?FENFP?<:'PENWCN<M:'MFIC'%%a'GMC:MEPFG[ (2.&7$23&()2$%&+$)0*S-(+.%2'&(2&).--d).--
MEJ:'J@LM<ILCR $%2.04().'6&5$(&(&=$'2$%)2&'.2&*4&)(=3.0$%'
A.9196& U8)(=3.0$%D& (%=& $%20().--;-(0& )(2.8
g Xg 4<JILC'CI<M?CL<@J 6BFIMEWCN<P'P<BB?EG<G %$%&(=(,2.0&+*-.);-.'9
E3(2& 23.& =.'+*'*+.'& (0.& $%2.10(-
//7'h'I:LJEIL:NM:B'TCB:ME=CBJ:>
+.=$(2*0'& *4& $%2.0).--;-(0& (=3.'$*%& $'
)-.(0-?& =.+*%'20(2.=& $%& =$'.('.'& $%
2;+& )*0%.;+& (%=& ';<'.e;.%2& =.'e;(8 2.$%&$'&=*7%0.1;-(2.=6&(%=&23.&'?%23.'$' 73$)3& 23.'.& '20;)2;0.'& (0.& =$'0;,2.=
+(2$*%& 0.e;$0.& (%*23.0& GY& =(?'9& E3.'. (%=& 20(%'-(2$*%& *4& +.''(1.'& 4*0& bL& (%= AE(<-.& F8!D9!X& E3.& (;2*$++;%.& <;--*;'
,.0$*='&*4&2$+.&)(%&<.&(-2.0.=&$%&3?,.08 bGL& (0.& 4(5*0.=9& M*00.-(2.=& 7$23& 23$' =$'.('.'& ,.+,3$1;'& 5;-1(0$'& (%=& ,.+8
,0*-$4.0(2$5.&*0&10*7238(00.'2.=&'2(2.'9 )3(%1.&$%&#.0(2$%&./,0.''$*%&$'&(&=$'0;,8 ,3$1;'& 4*-$().;'& A'..& M3(,9& ZXD& (0.
2$*%&*4&%*0+(-&=$44.0.%2$(2$*%&$%&23.&';<8 )(;'.=&<?&(%2$<*=$.'&23(2&2(01.2&23.&=.'8
/J>KL@/,98:;< ,E3.& '3(,.6& '20;)2;0.6 '.e;.%2&10(%;-(0&(%=&)*0%$S.=&.,$=.0+(- +*1-.$%& ,0*2.$%'& 7$23$%& 23.& =.'+*8
(%=& ';<).--;-(0& ,0*,.02$.'& *4& ',$%*;' -(?.0'& A'..& f0(%;-(0& [(?.0& (%=& "20(2;+ '*+.'9& [*''& *4& =.'+*'*+(-& (=3.'$*%
).--'&)*00.-(2.&7$23&23.$0&,*'$2$*%&7$23$% M*0%.;+D9& +>hP& 4*0& bL& (%=& bGL& (0. 0.';-2'& $%& 23.& )3(0()2.0$'2$)& 0*;%=$%1
23.&+$=8.,$=.0+$'9&E3.?&(0.&%(+.=&4*0 ,0.'.%2& 230*;13*;2& 23.& .,$=.0+$'& %*08 (%=& '.,(0(2$*%& *4& #.0(2$%*)?2.'& A()(%8
23.& ',$%.8-$#.& (,,.(0(%).& *4& 23.& ).-- +(--?6&<;2&23.&+.''(1.&$'&*%-?&20(%'-(2.= 23*-?'$'D6& ;-2$+(2.-?& 4*0+$%1& (& <-$'2.0
+(01$%'& $%& 3$'2*-*1$)& '.)2$*%'9& ";,0(8 *%&'2$+;-(2$*%&*4&,0*-$4.0(2$*%9 7$23$%& 23.& .,$=.0+$'9& "20$#$%1-?6& 23.
<('(-& ',$%*;'& ).--'& (0.& ,*-?3.=0(-& $% E3.&i',$%.'j&*4&',$%*;'&).--'&(0.&(<;%8 )-$%$)(-& ,0.'.%2(2$*%& *4& 23.'.& =$'.('.'
'3(,.&7$23&(&0*;%=.=&%;)-.;'9&P'&23.'. =(%2& =.'+*'*+.'6& )(-)$;+8=.,.%=.%2 0.T.)2'&23.&0.-(2$5.&./,0.''$*%&$%&23.&2$'8
).--'& =$44.0.%2$(2.& (%=& +*5.& ;,7(0= ).--& ';04().& +*=$S)(2$*%'& 23(2& ,0*+*2. ';.& *4& 23.& =.'+*1-.$%& G& (%=& !& ,0*2.$%'
230*;13& 23.& .,$=.0+$'6& 23.?& <.)*+.
,0*10.''$5.-?& T(22.0& (%=& =.5.-*,& *08
!"#$%&'(+
1(%.--.'& #%*7%& ('& )('!))(%* /%(.0)!1& A'..
9&(=?(=)7=("F%&#G)*<'H)9&(<";%&'#)'*)9=(H'('H?F)><'%=&#(
f0(%;-(0&[(?.0D9&",$%*;'&).--'&(-'*&)*%8
2($%& -(01.& <;%=-.'& *4& #.0(2$%& S-(+.%2'6 >72031. 91+35+3+
*01(%$N.=& (0*;%=& 23.& %;)-.;'& (%=& $%8 .CGJEWLC<N'X /CJI?<W@G'OEL<:PC@G
'.02.=&$%2*&=.'+*'*+.'&,.0$,3.0(--?9 4MB<:MC'I:LJEIL:NM:B'TCB:ME=CBJ:
",$%*;'&).--'&0.2($%&23.&'2(<-.&bZgbGY 4M:I?FLEPEPP:L'GP:L=C=[GT<N'GFN=BEJC
#.0(2$%'& 23(2& (0.& ,0*=;).=& $%& 23.& <('(-
)@LLE@G'<JICM<WE
-(?.0& <;2& =*& %*2& '?%23.'$N.& %.7& +.'8
'.%1.0&>hP&A+>hPD&4*0&23.'.&,0*2.$%'6 .CGJEWLC<N'Z /CJI?<W@G';@LW:B<G
./).,2& $%& 3?,.0,0*-$4.0(2$5.& =$'*0=.0'9 .CGJEWLC<N'd 3@MEGEJ:L'BCPCGG<;C'?FIEMB<P?EG<G
:%'2.(=6& %.7& '?%23.'$'& *4& 23.& bGgbGQ
#.0(2$%& ,($0& *));0'& $%& 23$'& .,$=.0+(- /L:TEWLEK<N /:LJEIL:NM:B'TCB:ME=CBJ:'S<M?'SEELF'?:<B':N=':BB?FM?JEWCN<P'B<W?M';CNMB<P[
-(?.09&E3.'.&#.0(2$%'&(0.&)3(0()2.0$'2$)&*4 @L:B'P:B=<EJFEI:M?F'U1:REG'=<GC:GCV
(%& .,$=.0+(-& ,(22.0%& *4& =$44.0.%2$(2$*% /L:TEI?<L<N'X #PME=CBJ:L'=FGIL:G<:]GT<N'OB:W<L<MF'GFN=BEJC'UGT<N'CBEG<ENG-'=FGMBEI?<P'
(%=&23;'&(0.&0.4.00.=&2*&('&23.&$#,,!%!.-#(& N:<LG-'GI:BGC'?:<B-':N='I:<NO@L'I:LJEIL:NM:B'TCB:ME=CBJ:V
-#+.&1"!2#32 *0* 4!%(-#.#5(-#+.&1"!2#32* 4!%&
(-#.19&E3$'&%*0+(-&,(22.0%&*4&=$44.0.%2$8 /L:TEI?<L<N'Y 3BB?FM?JEWCN<P'B<W?M';CNMB<P@L:B'P:B=<EJFEI:M?F
(2$*%& $'& '7$2)3.=& 2*& (%& (-2.0%(2$5. .CGJEIL:T<N *CM?:L':P:NM?ELFM<P'CI<=CBJELFG<G'K@LLEG:
,(237(?& $%& 3?,.0,0*-$4.0(2$5.& '2(2.'6 4MB<:MC'I:LJEIL:NM:B'TCB:ME=CBJ:-'MFIC'%
3*7.5.09&:%&)*%=$2$*%'&';)3&('&,'*0$('$'6 /:LJEIL:NM:B'TCB:ME=CBJ:'S<M?'LCOM';CNMB<P@L:B'P:B=<EJFEI:M?F':N='SEELF'?:<B
()2$%$)& #.0(2*'.'6& (%=& 7*;%=& 3.(-$%16 3@MEGEJ:L'=EJ<N:NM':BB?FM?JEWCN<P'B<W?M';CNMB<P@L:B'P:B=<EJFEI:M?F
'?%23.'$'&*4&bG&(%=&bGQ&+>hP&(%=&,0*8
HI
A'..&M3(,'9&ZG&(%=&ZXD9&R.+,3$1;'&5;-8
1(0$'& 0.';-2'& 40*+& (;2*(%2$<*=$.'& =$8
0.)2.=& (1($%'2& =.'+*1-.$%& !& (%=& 0.';-2'
$%& =$'0;,2$*%& *4& 23.& .,$=.0+$'& <.27..%
23.& <('(-& (%=& ';,0(<('(-& -(?.0'& A0.8
5$.7.=& $%& 0.49& !!D9& W%& 23.& *23.0& 3(%=6
=.'+*1-.$%& G& $'& ./,0.''.=& $%& 23.& ;,,.0
.,$=.0+(-&-(?.0'6&(%=&(%2$<*=$.'&2*&23$'
,0*2.$%&$%&,(2$.%2'&7$23&,.+,3$1;'&4*-$8
().;'& 0.';-2& $%& <-$'2.0'& $%& 23.& +*0.& ';8
,.0S)$(-& 10(%;-(0& -(?.09& W23.0& =$'.('.'
23(2& 2(01.2& 23.& '(+.& =.'+*1-.$%& G& ,0*8
2.$%& <;2& <?& (& =$44.0.%2& +.)3(%$'+& (0.
'2(,3?-*)*))(-& ')(-=.=& '#$%& '?%=0*+.
A'..&M3(,9&GFaD (%=&<;--*;'&$+,.2$1*6&$%
73$)3& (& <()2.0$(-& ,0*2.('.& )-.(5.'& (%= =>?@<;,"A! _@NPM<EN'EO'M?C'GMB:M@J'WB:N@LEG@J'U4+V':N='GMB:M@J'PEBNC@J'U46V>'*:JCLL:B'WB:N@LCG
$%()2$5(2.'& =.'+*1-.$%& G6& 0.';-2$%1& $% U*+V':BC'<N'M?C'<NMCBPCLL@L:B'GI:PC':N='PFMEIL:GJ'EO'M?C'WB:N@L:B'PCLL>'7CB:ME?F:L<N'WB:N@LCG'U78+V':BC
23.& '(+.& ';,.0S)$(-& <-$'2.0$%1& '..%& $% :LGE' C;<=CNM>' !"#$%&' *:JCLL:B' WB:N@LC-' !Yg-9e`>' U(BEJ' 8ELKBEET' 7A' 4MB@PM@BC' :N=' =C;CLEIJCNM' EO' M?C
,.+,3$1;'& 4*-$().;'9!Y& f.%.2$)& +;2(8 GT<N-' <N' ()%*+,*-#.+/+0-'+1' 2$34)%+/+0.5' 2.#$)#$-' YN='C=>-'C=<MC=' KF'4EMCB' 13-' ):=CN'8/>' 1CS',EBT-
2$*%'&$%&*23.0&=.'+*'*+(-&)*+,*%.%2' 0P+B:S[8<LL-'XbbX-'I'9-'S<M?'ICBJ<GG<EN>'%NGCM'@GC='S<M?'ICBJ<GG<EN'OBEJ'#6'&ELOO[4P?BC<NCB-'0.>V
(-'*& 0.5.(-& (& 0*-.& 4*0& 23.'.& ,0*2.$%'& $%
(=3.'$*%& ('& 7.--& ('& ).--& '$1%(-$%1& A'..
E(<-.&F8!D9!X '20;)2;0(-&)*+,*%.%2'&23(2&7$--&4*0+&23. 10$%9Y!6YY&[*0$)0$%&(<%*0+(-$2$.'&0.';-2&$%
E3.&$+,*02(%).&*4&)(-)$;+&('&(&+.=$(8 .,$=.0+(-&<(00$.06&('&7.--&('&(&%;+<.0&*4 (& 4*0+& *4& C*37$%#.-& '?%=0*+.& 7$23
2*0& *4& (=3.'$*%& $'& 7.--& $--;'20(2.=& $%& 23. ,0*2.$%'& 23(2& ,0*).''& 23.'.& )*+,*%.%2' $)323?*'$'& (%=& ,'.;=*($%3;+6& ('& 7.--
)('.'&*4&27*&)*%=$2$*%'&23(2&./3$<$2&)3(08 A'.. J$19& F8XD& A0.5$.7.=& $%& 0.4'9& !c& (%= ('& 23.& =$'.('.& ,0*10.''$5.& '?++.20$)
()2.0$'2$)& .,$=.0+(-& =?')*3.'$*%6& _(0$.0 YQD9& b.0(2*3?(-$%& 10(%;-.'& A'..& J$19& F8ZD #.0(2*=.0+$(9YZdYF& E3.'.& S%=$%1'& .+8
=$'.('.& A#.0(2*'$'& 4*--$);-(0$'D&(%=& k($-.?8 (0.& )*+,*'.=& ,0$+(0$-?& *4& ,0*S-(110$%6 ,3('$N.& 23.& $+,*02(%).& *4& ,0*,.0& 4*08
k($-.?& =$'.('.& A<.%$1%& )30*%$)& ,.+,3$8 #.0(2$%&S-(+.%2'6&(%=&-*0$)0$%9&:2&$'&$%&23$' +(2$*%&*4&23.&)*0%$S.=&.%5.-*,.&$%&%*08
1;'D&A'..&M3(,9&YcD9!Z6!L&^*23&*4&23.'.&=$'8 -(?.0&23(2&23.&)*0%$S.=&).--&.%5.-*,.&<.8 +(-&.,$=.0+(-&#.0(2$%$N(2$*%9
.('.'& (0.& )(;'.=& <?& +;2(2$*%'& $%& 1.%.' 1$%'& 2*& 4*0+9& >.-.('.& *4& ,0*S-(110$% E3.& S%(-& '2(1.& *4& 10(%;-(0& ).--& =$44.08
23(2& 0.1;-(2.& )(-)$;+& 20(%',*026& "U>MPX 40*+&#.0(2*3?(-$%&10(%;-.'&0.';-2'&$%&23. .%2$(2$*%& $%5*-5.'& 23.& ).--V'& *7%& ,0*8
A'(0)*g.%=*,-('+$)&0.2$);-;+&M(Xl8PER('. )(-)$;+8=.,.%=.%2& )-.(5(1.& *4& 23. 10(++.=& =.'20;)2$*%9& _;0$%1& 23$'& ,0*8
2?,.&X&$'*4*0+D&$%&23.&)('.&*4&_(0$.0&=$'8 ,0*S-(110$%&,*-?+.0$)&,0*2.$%&$%2*&S-(18 ).''6&$%&73$)3&23.&10(%;-(0&).--&<.)*+.'
.('.6& (%=& PERXMG& APER('.6& M(Xl& 20(%'8 10$%& +*%*+.0'9& E3.'.& S-(110$%& +*%*8 (&2.0+$%(--?&=$44.0.%2$(2.=&)*0%.*)?2.6&(%
,*02$%16&2?,.&XM6&+.+<.0&G6&(&0.1;-(2*0&*4 +.0'& (110.1(2.& 7$23& #.0(2$%& 2*& 4*0+ (,*,2*2$)& +.)3(%$'+& 0.';-2'& $%& 23.& =.8
)?2*,-('+$)&)(-)$;+&)*%).%20(2$*%D&$%&23. +()0*S-(+.%2'9& U5.%2;(--?6& S-(110$%& $' '20;)2$*%& *4& 23.& %;)-.;'& (%=& (-+*'2& (--
)('.&*4&k($-.?8k($-.?&=$'.('.9 =.10(=.=& $%2*& +*-.);-.'6& $%)-;=$%1& ;0*8 ).--;-(0& )*%2.%2'6& 7$23& 23.& ./).,2$*%& *4
[(+.--(0& 10(%;-.'& (0.& (-'*& 4*0+.=& $% )(%$)& ()$=& (%=& ,?00*-$=*%.& )(0<*/?-$) 23.&#.0(2$%&S-(+.%2'&(%=&S-(110$%&+(20$/9
23$'& -(?.0& *4& .,$=.0+(-& ).--'& AJ$19& F8ZD9 ()$=6& 73$)3& )*%20$<;2.& 2*& 3?=0(2$*%& *4
E3.'.& '.)0.2*0?& *01(%.--.'& =.-$5.0& ,0.8 23.&'20(2;+&)*0%.;+&(%=&3.-,&S-2.0&BC /M<8M@N,OL<K;@N A"..&M3(,9&YZD&M*+8
);0'*0'& *4& '20(2;+& )*0%.;+& -$,$='& $%2* 0(=$(2$*%9&[*0$)0$%&$'&(&)?'2.$%.80$)3&,0*8 ,-.2. =$44.0.%2$(2$*%&*4&10(%;-(0&).--'&0.8
23.& $%2.0).--;-(0& ',().9& [(+.--(0& 10(%8 2.$%& 23(2& 4*0+'& 23.& +(H*0& ,0*2.$%& )*+8 ';-2'&$%&'2()#.=&-(?.0'&*4&(%;)-.(2.6&T(28
;-.'& )*%2($%& 1-?)*,0*2.$%'6& 1-?)*-$,$='6 ,*%.%2& *4& 23.& )*0%$S.=& .%5.-*,.6& ()8 2.%.=& )*0%$S.=& ).--'& 23(2& 4*0+& 23.
,3*',3*-$,$='6& 40..& '2.0*-'6& (%=& (& %;+8 )*;%2$%1&4*0&+*0.&23(%&FQ&,.0).%2&*4&$2' '20(2;+& )*0%.;+9& :2& $'& 23$'& -(?.0& 23(2
<.0&*4&()$=&3?=0*-('.'6&$%)-;=$%1&-$,('.'6 +(''9&B,*%&$2'&0.-.('.&40*+&#.0(2*3?(-$% ,0*5$=.'& +.)3(%$)(-& ,0*2.)2$*%& 2*& 23.
,0*2.('.'6& ()$=& ,3*',3(2('.'6& (%=& 1-?8 10(%;-.'6& -*0$)0$%& <$%='& 2*& =.'+*'*+(- '#$%&(%=&(&<(00$.0&2*&7(2.0&-*''&(%=&,.08
)*'$=('.'9& f-;)*'?-).0(+$=.'6& 23.& ,0.8 '20;)2;0.'9& [*0$)0$%6& (-*%1& 7$23& $%5*-;8 +.(2$*%&*4&'*-;<-.&';<'2(%).'&40*+&23.
);0'*0'& 2*& ).0(+$=.'& (%=& 23.& =*+$%(%2 )0$%6& )?'2(2$%& P6& '+(--& ,0*-$%.80$)3& ,0*8 .%5$0*%+.%2& A0.5$.7.=& $%& 0.4'9& !c& (%=
)*+,*%.%2&*4&23.&'20(2;+&)*0%.;+&-$,8 2.$%'& A"R>G6& "R>X6& (%=& )*0%$S%D6& .-(S%6 YaD9& E3.& '20(2;+& )*0%.;+& <(00$.0& $'
$='6& (0.& (-'*& 4*;%=& 7$23$%& 23.'.& '20;)8 (%=& .%5*,-(#$%& (0.& (--& ';<'.e;.%2-? 4*0+.=& <?& (& 27*8)*+,(02+.%2& '?'2.+
2;0.'& A'..& M3(,9& YZD9& f.%.2$)& =$'.('.' )0*''8-$%#.=&2*&23.&,-('+(&+.+<0(%.&<? *4& -$,$=8=.,-.2.=6& ,0*2.$%8.%0$)3.=& )*08
=.+*%'20(2.& 23.& $+,*02(%).& *4& '2.0*$= 2$'';.&20(%'1-;2(+$%('.'&AEf\'6&,0$+(08 %.*)?2.'& ';00*;%=.=& <?& (& )*%2$%;*;'
(%=& -$,$=& +.2(<*-$'+& 4*0& '-*;13$%1& *4 $-?&Ef\'&!&(%=&GD6&4*0+$%1&23.&)*0%$S.= ./20().--;-(0& -$,$=& +(20$/9& E3.'.& 27*
)*0%$S.=& ).--'I$%& 0.).''$5.& m8-$%#.= ).--&.%5.-*,.9 )*+,(02+.%2'& ,0*5$=.& '*+.73(2& '.18
$)323?*'$'6& 4*0& ./(+,-.6& +;2(2$*%& *4 \;2(2$*%'& $%& 23.& Ef\G& 1.%.& 3(5. 0.1(2.=& <;2& )*+,-.+.%2(0?& 4;%)2$*%'
'2.0*$=& ';-4(2('.& 0.';-2'& $%& (& 0.2.%2$*% <..%& '3*7%& 2*& <.& 23.& <('$'& *4& '*+. 23(2&2*1.23.0&())*;%2&4*0&23.&i<(00$.0&()8
3?,.0#.0(2*'$'&A'..&M3(,9&YFD9!F6!a )('.'& *4& -(+.--(0& $)323?*'$'6& (%& (;2*'*8 2$5$2?j& *4& 23.& .,$=.0+$'9& >.1;-(2$*%& *4
+(-& 0.).''$5.& )*%=$2$*%& )3(0()2.0$N.= ,.0+.(<$-$2?6& =.'e;(+(2$*%6& (%2$+$)0*8
?<8K@98<,98:;< h(+.=& 4*0& 23.& <('*8 <?& -(01.& ')(-.'& (%=& (& =$'0;,2$*%& $%& 23. <$(-& ,.,2$=.& ()2$5$2?6& 2*/$%& ./)-;'$*%6
,3$-$)& #.0(2*3?(-$%& 10(%;-.'& 23(2& (0. ;,,.0+*'2& =$44.0.%2$(2$%1& -(?.0'& *4& 23. (%=&'.-.)2$5.&)3.+$)(-&(<'*0,2$*%&(0.&(--
,0*+$%.%2& 7$23$%& ).--'& (2& 23$'& -.5.-& *4 .,$=.0+$'9YG6YX&P%*23.0&4*0+&*4&$)323?*8 ,0$+(0$-?& 4;%)2$*%'& *4& 23.& ./20().--;-(0
23.& .,$=.0+$'6& 23.& 10(%;-(0& -(?.0& $'& 23. '$'6&$)323?*'$'&5;-1(0$'6&$'&)(;'.=&<?&+;8 -$,$=& +(20$/9& W%& 23.& *23.0& 3(%=6& +.8
'$2.& *4& 1.%.0(2$*%& *4& (& %;+<.0& *4& 23. 2(2$*%'& $%& 23.& 1.%.& .%)*=$%1& S-(18 )3(%$)(-&0.$%4*0).+.%26&3?=0(2$*%6&)?2*8
HB
#$%.8+.=$(2.=& $%$2$(2$*%& *4& $%T(++(8
2$*%6& (%=& ,0*2.)2$*%& 40*+& BC& =(+(1.
(0.& (--& ,0*5$=.=& <?& 23.& )*0%.*)?2.'9
1ENTCB:M<NEPFMCG'EO'M?C'#I<=CBJ<G
\.-(%*)?2.'& (0.& %.;0(-& )0.'28=.0$5.=6
,$1+.%28'?%23.'$N$%1&=.%=0$2$)&).--'&23(2
0.'$=.& ,0$+(0$-?& $%& 23.& <('(-& -(?.0& A'..
M3(,9& FQD9Yc& ^?& -$132& +$)0*')*,?6& 23.'.
).--'& (0.& 0.)*1%$N.=& <?& 23.$0& ,(-.8'2($%8
$%1&)?2*,-('+6&*5*$=&%;)-.;'6&(%=&)*-*0
*4& 23.& ,$1+.%28)*%2($%$%1& +.-(%*8
'*+.'6& 23.& =$'2$%)2$5.& *01(%.--.& *4& 23. =>?@<;,"AH 0CBTCL'PCLLG'OBEJ'M?C'QNWCB'EO':
+.-(%*)?2.9& E3.& 4;%)2$*%& *4& +.-(%*8
XZ`[JJ' 6$' UPBESN[B@JIV' YX[SCCT' ?@J:N' OC[
)?2.'& 3('& <..%& 3$13-$132.=&<?& =$'*0=.0'
M@G>'1EMC'NCB;C'U1V'<N'=<BCPM'PENM:PM'S<M?'M?C'L:M[
$%&+.-(%*)?2.&%;+<.0& *0& 4;%)2$*%9&E3.
)-(''$)& =.0+(2*-*1$)& =$'.('.6& 5$2$-$1*6& $' CB:L' :N=' K:G:L' G@BO:PCG' EO' M?C' PCLL' :N=' =CNGC =>?@<;,"A" *:NWCB?:NG' PCLL>' 1EMC' <N=CNMC=
)(;'.=&<?&23.&(;2*$++;%.&=.,-.2$*%&*4 PEBC' PFMEIL:GJ<P' WB:N@LCG' U+V>' !XZ-bYe>' !"#$%& N@PLC@G-'LFGEGEJCG-':G'SCLL':G'BE=[':N='B:PTCM[
+.-(%*)?2.'9ZQ& M(;'.'& *4& *23.0& =$'*08 0CBTCL'PCLL'WB:N@LCG-'!fX-de`> G?:IC='PFMEIL:GJ<P'WB:N@LCG'U)<BKCPT'WB:N@LCGV-
=.0'& *4& ,$1+.%2(2$*%& (0.& 4*;%=& $%& 5(0$8 :N='M?C':KGCNPC' EO' TCB:M<N' QL:JCNMG>'!XZ-Y``>
*;'& =.4.)2'& $%& +.-(%*1.%.'$'6& $%)-;=$%1 [(%1.03(%'& ).--'& (0.& =.%=0$2$)& (%2$1.%8 !"#$%&')<BKCPT'WB:N@LCG'!gg-```>'U5GC='S<M?'ICB[
+.-(%$%&'?%23.'$'6&+.-(%*'*+.&,0*=;)8 ,0*).''$%1&(%=&8,0.'.%2$%1&).--'&$%&23.&.,$8 J<GG<EN'OBEJ'1>'$EJ:N<-'0.>V
2$*%6& (%=& +.-(%*'*+.& 20(%',*02& (%= =.0+$'& A'..& M3(,9& GQD9ZX& P-23*;13& 23.?
20(%'4.0& 2*& #.0(2$%*)?2.'& A'..& M3(,'9& FQ (0.& %*2& ;%$e;.& 2*& 23.& .,$=.0+$'6& 23.? =.0+$'& A'..& M3(,9& ZGD9Z!6ZY& E3.& +(H*0
(%=& F!D9& >.1;-(2$*%& *4& +.-(%*)?2.& ,0*8 4*0+& X& ,.0).%2& 2*& a& ,.0).%2& *4& 23.& 2*2(- 4;%)2$*%'& *4& 23.& _Un& (0.& 2*& (22()3& 23.
-$4.0(2$*%& (%=& 3*+.*'2('$'& $'& ;%=.0& $%8 .,$=.0+(-& ).--& ,*,;-(2$*%9& E3.?& (0. .,$=.0+$'&(%=&=.0+$'&2*&.()3&*23.0&(%=
2.%'$5.& '2;=?& ('& 7.--&('&(&+.(%'&2*&;%8 +*'2-?&4*;%=&$%&(&';,0(<('(-&,*'$2$*%&<;2 2*& ,0*5$=.& 0.'$'2(%).& (1($%'2& ./2.0%(-
=.0'2(%=$%1&+.-(%*+(&A'..&M3(,9&GXYD9Y (0.&=$'20$<;2.=&230*;13*;2&23.&<('(-6&',$8 '3.(0$%1&4*0).'9&:2&'.05.'&('&(&';,,*02&4*0
b.0(2$%*)?2.d+.-(%*)?2.&$%2.0()2$*%'&(0. %*;'6& (%=& 10(%;-(0& -(?.0'9& :%& 3$'2*-*1$) 23.& .,$=.0+$'6& =.2.0+$%.'& 23.& ,*-(0$2?
)0$2$)(-& 4*0& +.-(%*)?2.& 3*+.*'2('$'& (%= ,0.,(0(2$*%'6& [(%1.03(%'& ).--'& (0.& ,(-.8 *4& 10*7236& =$0.)2'& 23.& *01(%$N(2$*%& *4
=$44.0.%2$(2$*%6& $%T;.%)$%1&,0*-$4.0(2$*%6 '2($%$%1&(%=&3(5.&)*%5*-;2.=&%;)-.$9&E3. 23.&)?2*'#.-.2*%&$%&<('(-&).--'6&,0*5$=.'
=.%20$)$2?6&(%=&+.-(%$N(2$*%9 )?2*,-('+& *4& 23.& [(%1.03(%'& ).--'& )*%8 =.5.-*,+.%2(-& '$1%(-'6& (%=& '.05.'& ('& (
\.0#.-& ).--'& (0.& '-*78(=(,2$%1& 2?,.& : 2($%'& )3(0()2.0$'2$)& '+(--& 0*=8& *0& 0()#.28 '.+$,.0+.(<-.&<(00$.09
+.)3(%*0.).,2*0'& -*)(2.=& $%& '$2.'& *4 '3(,.=& '20;)2;0.'& )(--.=& 6(./!%7(.1* 2!)) E3.&_Un&)(%&<.&';<=$5$=.=&$%2*&230..
3$1382()2$-.& '.%'$2$5$2?& A'..& M3(,9& GXQD9ZG /%(.0)!1&*0&8#%9!24*/%(.0)!1&AJ$19&F8FD9&E3.? ';,0(+*-.);-(0&%.27*0#'@&23.&3.+$=.'8
E3.?& (0.& ,0.'.%2& (+*%1& <('(-& #.0(2$8 ,0$%)$,(--?&4;%)2$*%&2*&'(+,-.&(%=&,0.'.%2 +*'*+.8(%)3*0$%1& S-(+.%2& )*+,-./6
%*)?2.'&$%&,(02$);-(0&0.1$*%'&*4&23.&<*=?6 (%2$1.%'&2*&E&).--'&*4&23.&.,$=.0+$'9&^.8 23.& <('.+.%2& +.+<0(%.& $2'.-46& (%=& 23.
$%)-;=$%1& 3($0?& '#$%& (%=& $%& 23.& 1-(<0*;' )(;'.& *4& 23.'.& 4;%)2$*%'6& 23.?& (0.& $+8 (%)3*0$%1&S<0$-'9&E3.&)0$2$)(-&0*-.&*4&23$'
'#$%&*4&23.&=$1$2'6&-$,'6&0.1$*%'&*4&23.&*0(- ,-$)(2.=& $%& 23.& ,(23*-*1$)& +.)3(%$'+' 0.1$*%&$%&+($%2($%$%1&'#$%&'20;)2;0(-&$%8
)(5$2?6& (%=& 23.& *;2.0& 0**2& '3.(23& *4& 23. ;%=.0-?$%1& (--.01$)& )*%2()2& =.0+(2$2$'6 2.10$2?& $'& 0.5.(-.=& <?& 23.& -(01.& %;+<.0
3($0&4*--$)-.9&[$#.&*23.0&%*%#.0(2$%*)?2.'6 );2(%.*;'&-.$'3+(%$('$'6&(%=&3;+(%&$+8 *4& +;2(2$*%'& $%& _Un& )*+,*%.%2'& 23(2
\.0#.-& ).--'& 3(5.& (& ,(-.8'2($%$%1& )?2*8 +;%*=.S)$.%)?& 5$0;'& $%4.)2$*%9& [(%1.08 )(;'.& <-$'2.0$%1& =$'.('.'& *4& 5(0?$%1& '.8
,-('+9&:++;%*3$'2*)3.+$)(-&+(0#.0'&*4 3(%'&).--'&(0.&0.=;).=&$%&23.&.,$=.0+$'&*4 5.0$2?6& )*5.0.=& $%& =.2($-& $%& M3(,9& LQ9
23.&\.0#.-&).--&$%)-;=.&ba6&bGa6&bGc6&(%= ,(2$.%2'& 7$23& ).02($%& )*%=$2$*%'6& ';)3& (' E3.'.& <;--*;'& =$'.('.'& (0.& 10*;,.=& ()8
bXQ&#.0(2$%&,.,2$=.'9&bXQ&$'&0.'20$)2.=&2* ,'*0$('$'6&'(0)*$=*'$'6&(%=&)*%2()2&=.0+(8 )*0=$%1& 2*& 23.& -.5.-& *4& 23.& )-.(5(1.
\.0#.-&).--'&$%&23.&'#$%&(%=&23;'&+(?&<. 2$2$'K& 23.?& (0.& 4;%)2$*%(--?& $+,($0.=& <? 7$23$%& 23.& _UnI23.& +*'2& ';,.0S)$(-6
23.& +*'2& 0.-$(<-.& +(0#.09& B-20('20;)8 BC&0(=$(2$*%6&.',.)$(--?&BC^9 U^& '$+,-./6&$%5*-5.'& <('(-&#.0(2$%*)?2.
2;0(--?6& \.0#.-& ).--'& (0.& .('$-?& $=.%2$S.= ^.)(;'.&*4&23.$0&.44.)2$5.%.''&$%&(%2$8 )-.(5(1.9& n;%)2$*%(-& U^& *));0'& 7$23$%
<?& 23.& +.+<0(%.8<*;%=.=6& =.%'.8)*0. 1.%& ,0.'.%2(2$*%& (%=& -?+,3*)?2.& '2$+8 23.& -(+$%(& -;)$=(& (%=& -(+$%(& =.%'(& 0.8
10(%;-.'& 23(2& )*--.)2& *,,*'$2.& 23.& f*-1$ ;-(2$*%6& =.%=0$2$)& ).--'& (%=& [(%1.03(%' 1$*%'9&_?'20*,3$)&U^&$'&23.&=..,.'2&-.5.-
(%=&,0*/$+(-&2*&(%&;%+?.-$%(2.=&%.;0$2. ).--'& 3(5.& <.)*+.& ,0*',.)2$5.& 5.3$)-.' *4& <-$'2.0$%16& 7$23$%& 23.& ';<-(+$%(
AJ$19& F8LD9& E3.'.& 10(%;-.'& (0.& '$+$-(0& 2* 4*0& 2;+*0& 23.0(,?& (%=& 2;+*0& 5())$%.'9 =.%'(g(%)3*0$%1& S-(+.%2'9& M3(,9& ZG
%.;0*'.)0.2*0?& 10(%;-.'& $%& %.;0*%'& (%= E3.'.& ).--'& (0.& -*(=.=& 7$23& 2;+*08',.8 ,0*5$=.'& (& =.2($-.=& =$');''$*%& *4& 23.
)*%2($%& %.;0*20(%'+$22.08-$#.& ';<'2(%).' )$S)&(%2$1.%'6&73$)3&7$--&23.%&'2$+;-(2. _Un&%.27*0#'9
(%=& +(0#.0'& *4& %.;0*.%=*)0$%.& ).--'6& $%8 23.&3*'2&$++;%.&0.',*%'.&2*&+*;%2&(%
)-;=$%1& +.2.%#.,3(-$%6& 5('*()2$5.& $%8 (%2$1.%8',.)$S)6& (%=& 23.0.4*0.& 2;+*08
2.'2$%(-& ,.,2$=.6& %.;0*%8',.)$S)& .%*-('.6 ',.)$S)6&0.',*%'.9 .#$0%4
(%=&'?%(,2*,3?'$%9&P-23*;13&$%)0.('$%1-? E3.&=.0+$'&$'&(%&$%2.10(2.=&'?'2.+&*4&S8
+*0.& $'& <.$%1& -.(0%.=& (<*;2& 23.& %*0+(- <0*;'6& S-(+.%2*;'6& =$44;'.6& (%=& ).--;-(0
4;%)2$*%& *4& \.0#.-& ).--'6& 23.?& (0.& *4& ,(08 .#$03*[#/%.#$03*'_5162%!1 )*%%.)2$5.& 2$'';.& .-.+.%2'& 23(2& ())*+8
2$);-(0& )-$%$)(-& %*2.& <.)(;'.& \.0#.-& ).--8 E3.& =.0+(-8.,$=.0+(-& H;%)2$*%& A_UnD& $' +*=(2.'& %.05.& (%=& 5(');-(0& %.27*0#'6
=.0$5.=&%.*,-('+'&(0.&,(02$);-(0-?&(110.'8 (&<('.+.%2&+.+<0(%.&N*%.&23(2&4*0+' .,$=.0+(--?& =.0$5.=& (,,.%=(1.'6& (%=
'$5.&(%=&=$4S);-2&2*&20.(2&A'..&M3(,9&GXQD9 23.&$%2.04().&<.27..%&23.&.,$=.0+$'&(%= )*%2($%'& +(%?& 0.'$=.%2& ).--& 2?,.'6& $%8
HC
)-;=$%1& S<0*<-('2'6& +()0*,3(1.'6& +('2 2.0'2$2$(-&)*--(1.%'&())*;%2&4*0&23.&10.(28 0(23.0& (& +.2(<*-$)& =$'*0=.0& 7$23& '.)8
).--'6& (%=& 20(%'$.%2& )$0);-(2$%1& ).--'& *4 .'2& ,0*,*02$*%& *4& )*--(1.%& $%& (=;-2& =.08 *%=(0?& $%5*-5.+.%2& *4& .-('2$)& S<.0'9Zad
23.& $++;%.& '?'2.+& A'..& J$1'9& L8c& (%= +$'&A2?,.&:6&aQ&,.0).%2&2*&cQ&,.0).%2K&:::6 LQ&:%&(==$2$*%&2*&1.%.2$)&+;2(2$*%'6&'*-(0
L8GYD9&E3.& =.0+$'& +(#.'&;,&23.& +(H*08 a&,.0).%2&2*&GX&,.0).%2K&(%=&C6&o&Z&,.08 0(=$(2$*%& (%=& (1$%1& (-'*& )*%20$<;2.& 2*
$2?&*4&23.&'#$%&(%=&,0*5$=.'&$2'&,-$(<$-$2?6 ).%2D9& P-23*;13& 2?,.& C& )*--(1.%& ()8 .-('2$)&S<.0&=(+(1.9LG
.-('2$)$2?6& (%=& 2.%'$-.& '20.%1239& :2& ,0*8 )*;%2'& 4*0& (& 0.-(2$5.-?& '+(--& ,0*,*02$*%
2.)2'& 23.& <*=?& 40*+& +.)3(%$)(-& $%H;0?6 *4& 2*2(-& )*--(1.%6& $2& )*=$'20$<;2.'& 7$23 (<L:JCNME@G':N='.<OO@GC'0:MB<R'
<$%='& 7(2.06&($='& $%& 23.0+(-& 0.1;-(2$*%6 <*23&2?,.'&:&(%=&:::&)*--(1.%&2*&(''$'2&$%
(%=& $%)-;=.'& 0.).,2*0'& *4& '.%'*0?& '2$+8 0.1;-(2$%1& S<0$-& =$(+.2.09& :2& $'& -*)(2.= 6EJIENCNMG'EO'M?C'.CBJ<G A"..
;-$9& E3.& =.0+$'& $%2.0()2'& 7$23& 23.& .,$8 ,0$+(0$-?&$%&23.&,(,$--(0?&=.0+$'&(%=&23. M3(,9&LGD
=.0+$'&$%&+($%2($%$%1&23.& ,0*,.02$.'& *4 +(20$/&';00*;%=$%1&23.&<('.+.%2&+.+8 E3.&S<0*;'&(%=&).--;-(0&+(20$/&.-.+.%2'
<*23& 2$'';.'6& )*--(<*0(2.'& =;0$%1& =.5.-8 <0(%.'&*4&5.''.-'6&%.05.'6&(%=&.,$=.0+(- (0.& .+<.==.=& 7$23$%& +*0.& (+*0,3*;'
*,+.%2& $%& 23.& +*0,3*1.%.'$'& *4& 23. (,,.%=(1.'6& (%=& (2& 23.& _Un9& E?,.& C: +(20$/& )*+,*%.%2'6& 73$)3& (-'*& (0.
_Un&(%=&.,$=.0+(-&(,,.%=(1.'&A'..&_.8 )*--(1.%& $'& (''*)$(2.=& 7$23& S<0$-& (%=& $% 4*;%=&$%&<('.+.%2&+.+<0(%.'9LXdLY&Rf'
5.-*,+.%2&*4&"#$%&P,,.%=(1.'D6&(%=&$%8 23.& $%2.0S<0$--(0& ',().'9& E?,.& :C& )*-8 (%=& fPf'& ';00*;%=& (%=& .+<.=& 23.& S8
2.0()2'&$%&0.,($0$%1&(%=&0.+*=.-$%1&'#$% -(1.%&$'&)*%S%.=&2*&23.&<('(-&-(+$%(&*4 <0*;'&)*+,*%.%2'9& Rf'& (0.&-(01.&+*-.8
(42.0&7*;%=$%19 23.& _Un6& 5.''.-'6& (%=& .,$=.0+(-& (,,.%8 );-.'& )*%'$'2$%1& *4& (& )*0.& ,0*2.$%& 23(2
E3.&=.0+$'&$'&(00(%1.=&$%2*&27*&+(8 =(1.'9& E?,.& C::& )*--(1.%& 4*0+'& (%)3*08 =.2.0+$%.'& 73$)3& fPf'& 7$--& <.& $%)*08
H*0& 0.1$*%'6& 23.& ;,,.0& ,(,$--(0?& =.0+$' $%1&S<0$-'&(2&23.&_Un9 ,*0(2.=& $%2*& 23.& +*-.);-.9& E3.& Rfg
(%=& 23.& =..,.0& 0.2$);-(0& =.0+$'9& E3.'. U-('2$)& )*%%.)2$5.& 2$'';.& A'..& M3(,9 fPf& )*+,-./& )(%& <$%=& 7(2.0& ;,& 2*
27*& 0.1$*%'& (0.& 0.(=$-?& $=.%2$S(<-.& *% LGD& $'& )*+,-./& +*-.);-(0& +.'36& (''.+8 GQQQ& 2$+.'& $2'& *7%& 5*-;+.& (%=& 3(5.
3$'2*-*1$)& '.)2$*%6& (%=& 23.?& =$44.0& $% <-.=&$%2*&(&)*%2$%;*;'&%.27*0#&23(2&./8 0*-.'&$%&0.1;-(2$*%&*4&7(2.08<$%=$%1&(%=
23.$0&)*%%.)2$5.&2$'';.&*01(%$N(2$*%6&).-- 2.%='&40*+&23.&-(+$%(&=.%'(&*4&23.&_Un )*+,0.''$<$-$2?& *4& 23.& =.0+$'6& ('& 7.--
=.%'$2?6& (%=& %.05.& (%=& 5(');-(0& ,(28 230*;13*;2&23.&=.0+$'&(%=&$%2*&23.&)*%8 ('& $%)0.('$%1& -*)(-& )*%).%20(2$*%'& *4
2.0%'9& E3.& ,(,$--(0?& =.0+$'& (<;2'& 23. %.)2$5.&2$'';.&*4&23.&3?,*=.0+$'9ZL&U-('8 10*723& 4()2*0'& 230*;13& <$%=$%1& A.9196
.,$=.0+$'6&+*-='&2*&$2'&)*%2*;0'6&(%=&$' 2$)& S<.0'& 0.2;0%& 23.& '#$%& 2*& $2'& %*0+(- <('$)& S<0*<-('2& 10*723& 4()2*0D9& E3.?
;';(--?&%*&+*0.&23(2&27$).&$2'&23$)#%.'' )*%S1;0(2$*%& (42.0& <.$%1& '20.2)3.=& *0 (-'*&-$%#&).--'&7$23&23.&S<0$--(0&(%=&S-(8
A'.. J$19&L8cD9&E3.&0.2$);-(0&=.0+$'&4*0+' =.4*0+.=9&U-('2$)&S<.0'&(0.&(-'*&,0.'.%2 +.%2*;'& +(20$/6& $%T;.%)$%1& ,0*-$4.0(8
23.&<;-#&*4&23.&=.0+(-&2$'';.9&:2&$'&)*+8 $%& 23.& 7(--'& *4&);2(%.*;'& <-**=& 5.''.-' 2$*%6& =$44.0.%2$(2$*%6& 2$'';.& 0.,($06& (%=
,*'.=& ,0$+(0$-?& *4& -(01.8=$(+.2.0& )*-8 (%=& -?+,3(2$)'& (%=& $%& 23.& '3.(23'& *4 +*0,3*1.%.'$'9
-(1.%&S<0$-'6& *01(%$N.=&$%2*& -(01.6&$%2.08 3($0&4*--$)-.'9&^?&=0?&7.$1326&.-('2$)&)*%8 E3.&+(H*0&Rf'&$%&23.&(=;-2&=.0+$'&(0.
7*5.%& S<.0& <;%=-.'6& 7$23& <0(%)3$%1 %.)2$5.& 2$'';.& ())*;%2'& 4*0& (,,0*/$8 )3*%=0*$2$%& ';-4(2.'g=.0+(2(%& ';-4(2.6
.-('2$)& S<.0'& ';00*;%=$%1& 23.& <;%=-.' +(2.-?& 4*;0& ,.0).%2& *4& 23.& =.0+(-& +(8 $%)-;=$%1& <$1-?)(%6& =.)*0$%6& (%=& 5.0'$8
A'.. J$19& L8GYD9& :%& %*0+(-& $%=$5$=;(-'6 20$/& ,0*2.$%9& E3.& )*+,*%.%2'& *4& .-('2$) )(%K& 3.,(0(%g3.,(0(%& ';-4(2.& Rf'6& $%8
23.& .-('2$)& S<.0'& (%=& )*--(1.%& <;%=-.' S<.0'&$%)-;=.&S<0$--$%8G6&(&!ZQ8#=&+*-.8 )-;=$%1& ,.0-.)(%& (%=& '?%=.)(%K& (%=
$%)0.('.& $%& '$N.& ,0*10.''$5.-?& 2*7(0= );-.6& +;2(2$*%'& $%& 73$)3& )(;'.& \(04(% )3*%=0*$2$%8L& ';-4(2.& Rf'6& 73$)3& (0.
23.&3?,*=.0+$'9&E3.&';<,(,$--(0?&,-./;'6 '?%=0*+.&A'..&M3(,9&G!cD9&U-('2$%&$'&23. )*+,*%.%2'& *4& 23.& _Un& A'..& M3(,9& LGD9
(& 3*0$N*%2(-& ,-(%.& *4& 5.''.-'6& +(0#' .-('2$)&S<.0&+(20$/&)*+,*%.%26&(%=&+;8 E3.& 0.-(2$5.& (+*;%2'& *4& 23.'.& =$44.0.%2
23.& <*;%=(0?& <.27..%& 23.& ,(,$--(0? 2(2$*%'&$%&23$'&,0*2.$%&)(;'.&23.&=$'.('. Rf'& )3(%1.& 7$23& (1.6& ('& (=;-2& =.0+$'
(%=&0.2$);-(0&=.0+$'9&E3.&-*7.'2&<*;%=8 );2$'& -(/(& A'..& M3(,9& G!cD9& W/?2(-(%& S8 (42.0& (1.& YQ& ?.(0'& 1.%.0(--?& 3('& $%8
(0?& *4& 23.& 0.2$);-(0& =.0+$'& $'& =.S%.= <.0'& ./2.%=& 40*+& 23.& _Un& 2*& 23.& ,(,$-8 )0.('.'& $%& =.0+(2(%& ';-4(2.6& <;2& =.8
<?&23.&20(%'$2$*%&*4&S<0*;'&)*%%.)2$5. -(0?g0.2$);-(0& =.0+(-& H;%)2$*%6& 73.0. )0.('.'&$%&)3*%=0*$2$%8L&';-4(2.&(%=&)3*%8
2$'';.& 2*& (=$,*'.& )*%%.)2$5.& 2$'';.& *4 23.?&+.01.&7$23&.-(;%$%&S<.0'9&U-(;%$% =0*$2$%&';-4(2.9
23.&3?,*=.0+$'9 4$<.0'6&$%&2;0%6&.5*-5.&$%2*&+(2;0.&.-('8 f-?)*,0*2.$%'& 23(2& (0.& 4*;%=& $%& 23.
2$)&S<.0'&*4&23.&0.2$);-(0&=.0+$'9&E3.'. =.0+$'& $%)-;=.& S<0*%.)2$%6& 230*+<*8
S<.0'& (0.& %*0+(--?& -*)(2.=& <.27..% ',*%=$%6&-(+$%$%6&5$20*%.)2$%6&(%=&2.%('8
(<KBE@G'0:MB<R'EO'M?C'.CBJ<G
<;%=-.'& *4& )*--(1.%& S<.0'6& (-23*;13& $% )$%9& [$#.& 23.& Rf'gfPf'6& 23.?& $%2.0()2
E3.&)*%%.)2$5.&2$'';.&+(20$/&*4&23.&=.08 ).02($%& ,(23*-*1$)& )*%=$2$*%'6& ';)3 7$23& *23.0& +(20$/& )*+,*%.%2'& 5$(& $%2.8
+$'& $'& )*+,0$'.=& ,0$+(0$-?& *4& )*--(1.8 ('& ^;')3#.8W--.%=*044& '?%=0*+.6& <*23 10$%&0.).,2*0'9&E3.'.&+*-.);-.'&4()$-$2(2.
%*;'& (%=& .-('2$)& S<0*;'& 2$'';.9ZZ6ZL .-('2$)& (%=& )*--(1.%& S<.0'& <.)*+.& ('8 ,0*).''.'& *4& +$10(2$*%6& ).--& (=3.'$*%6
E3.'.& (0.& )*+<$%.=& 7$23& *23.06& %*%8 '.+<-.=& 7$23$%& 23.& '(+.& <;%=-.9& E3. +*0,3*1.%.'$'6& (%=& =$44.0.%2$(2$*%9& J$8
S<0*;'& )*%%.)2$5.& 2$'';.& +*-.);-.'6 $+,*02(%).&*4&23$'&.-('2$)&S<.0&%.27*0# <0*%.)2$%&$'&'?%23.'$N.=&<?&<*23&.,$23.8
$%)-;=$%1& S%.-?& S-(+.%2*;'& 1-?)*,0*8 $'& )-.(0-?& '..%& $%& 23.& %;+<.0& *4& +;-2$8 -$(-&(%=&+.'.%)3?+(-&).--'6&(%=&$2&)*5.0'
2.$%'6& ,0*2.*1-?)(%'& ARf'D6& (%=& 1-?8 '?'2.+& =$'.('.'& 23(2& (0$'.& <.)(;'.& *4 )*--(1.%&<;%=-.'&(%=&23.&.-('2$)&%.27*0#9
)*'(+$%*1-?)(%'&AfPf'D&*4&23.&i10*;%= +;2(2$*%'& $%& )*+,*%.%2'& *4& 23$'& %.28 C$20*%.)2$%&$'&,0.'.%2&*%&(--&.-('2$)&S<.0'
';<'2(%).9jZF 7*0#9& >.).%2-?6& 23.& =.4.)2& ;%=.0-?$%1 ./).,2&4*0&*/?2(-(%9&E.%(')$%&./,0.''$*%
:%&2.0+'&*4&().--;-(0&)*+,*%.%2'6&)*-8 ,'.;=*/(%23*+(& .-('2$);+& ARmUD& 7(' $'& 4*;%=& (0*;%=& 23.& '+**23& +;')-.& *4
-(1.%& 4*0+'& 23.& <;-#& *4& 23.& =.0+$'6& ()8 4*;%=& 2*& <.& +;2(2$*%& $%& P^MML6& ( <-**=& 5.''.-'6& (00.)2*0& ,$-$& +;')-.'6& (%=
)*;%2$%1& 4*0& (,,0*/$+(2.-?& FZ& ,.0).%2 +.+<.0&*4&23.&-(01.&(=.%*'$%.&20$,3*'8 (,,.%=(1.'&';)3&('&'7.(2&1-(%='9
*4&23.&=0?&7.$132&*4&'#$%6&(%=&,0*5$=$%1 ,3(2.8=.,.%=.%2& 20(%'+.+<0(%.& 20(%'8
<*23&2.%'$-.&'20.%123&(%=&.-('2$)$2?9&AJ*0 ,*02.0& 4(+$-?9& E3;'6& 23$'& =$'.('.& 23(2& $'
6CLL@L:B'6EJIENCNMG'EO'M?C'.CBJ<G
=.2($-'& 0.1(0=$%1& 23.& ,*-?,.,2$=.& '20;)8 )3(0()2.0$N.=& <?& -*''& *4& '#$%& .-('2$)$2?
2;0.& (%=& =$'20$<;2$*%& *4& )*--(1.%'6& '.. (%=& )(-)$S.=& .-('2$)& S<.0'& $'& ;%-$#.-?& ( J$<0*<-('2'6&+()0*,3(1.'6&(%=&+('2&).--'
M3(,9&LG9D&E3.&,.0$*=$)(--?&<(%=.=6&$%8 ,0$+(0?& =.4.)2& $%& .-('2$)& 2$'';.6& <;2 (0.& 23.& 0.1;-(0& 0.'$=.%2'& *4& 23.& =.0+$'6
HE
+*'2-?& 4*;%=& (0*;%=& 23.& ,(,$--(0?& 0.8 <*/?,.,2$=('.6& %.;20*,3$-& )3.+*2()2$) '+**23& +;')-.& ).--'6& ('& 7.--& ('& ,.0$8
1$*%&(%=&';00*;%=$%1&5.''.-'&*4&23.&';<8 4()2*06&(%=&.*'$%*,3$-$)&)3.+*2()2$)&4()8 )?2.'6&(&'.)*%=&2?,.&*4&)*%20()2$-.&).--&*4
,(,$--(0?& ,-./;'& A'..& J$19& L8XQD9& E3.? 2*0&*4&(%(,3?-(/$'6&73$)3&(0.&+.=$(2*0' 23.&5.''.-&7(--9&P2&23.&H;%)2$*%&<.27..%
(-'*& *));0& $%& 23.& 0.2$);-(0& =.0+$'& $%& 23. $%&23.'.&,0*).''.'9 23.&,(,$--(0?&(%=&0.2$);-(0&=.0+$'6&2.0+$8
$%2.0'2$).'& <.27..%& )*--(1.%& S<.0& <;%8 E3.& =.0+(-& =.%=0*)?2.& $'& (& '2.--(2.6 %(-& (02.0$*-.'& 4*0+& 23.& ';<,(,$--(0?
=-.'9& E3.& S<0*<-('2& $'& (& +.'.%)3?+(--? =.%=0$2$)6&*0&'*+.2$+.'&',$%=-.8'3(,.=6 ,-./;'9& E3.& (02.0$*-.'& (2& 23$'& -.5.-& 3(5.
=.0$5.=& ).--& 23(2& +$10(2.'& 230*;13& 23. 3$13-?& ,3(1*)?2$)& S/.=& )*%%.)2$5.& 2$'8 *%-?& (& '$%1-.& -(?.0& *4& '+**23& +;')-.
2$'';.&(%=&$'&0.',*%'$<-.&4*0&23.&'?%23.8 ';.& ).--& $%& 23.& =.0+$'& *4& %*0+(-& '#$%9 ).--'6& *01(%$N.=& $%& (& +(%%.0& 2*& ';11.'2
'$'&(%=&=.10(=(2$*%&*4&S<0*;'&(%=&%*%S8 E3.?&(0.&(&';<'.2&*4&(%2$1.%8,0.'.%2$%1 23(2& 23.?& 4;%)2$*%& ('& ,0.)(,$--(0?
<0*;'& )*%%.)2$5.& 2$'';.& +(20$/& ,0*2.$%' +()0*,3(1.'& *0& (& =$'2$%)2& -$%.(1.& 23(2 ',3$%)2.0'9& M(,$--(0?& -**,'& 23.%& ./2.%=
(%=& (& %;+<.0& *4& '*-;<-.& 4()2*0'9& J$<0*8 *0$1$%(2.'& $%& 23.& <*%.& +(00*79& "$+$-(0 40*+& 23.& 2.0+$%(-& (02.0$*-.'& *4& 23.
<-('2'& ,0*5$=.& (& '20;)2;0(-& ./20().--;-(0 2*& +(%?& *23.0& <*%.& +(00*78=.0$5.= ,-./;'&$%2*&23.&,(,$--(0?&=.0+$'9&P2&23.
+(20$/& 40(+.7*0#& ('& 7.--& ('& ,0*+*2. ).--'6&=.0+(-&=.%=0*)?2.'&./,0.''&4()2*0 (,./& *4& .()3& )(,$--(0?& -**,& $'& 23.& 23$%8
$%2.0()2$*%& <.27..%& .,$=.0+$'& (%=& =.08 m:::(& (%=& M_YZ6& (%=& 23.?& -()#& 2?,$)(- %.'2& ,*02$*%6& $%& 73$)3& <*23& 23.& .%=*8
+$'& <?& '?%23.'$'& *4& '*-;<-.& +.=$(2*0'9 +(0#.0'&*4&S<0*<-('2'&A.9196&E.8FD9&E3.'. 23.-$;+&(%=&<('(-&-(+$%(&*4&23.&5.''.-'
"2;=$.'& *4& 3;+(%& S<0*<-('2'& $%=$)(2. ).--'& (0.& ,(02$);-(0-?& (<;%=(%2& $%& 23. (0.&(22.%;(2.=6&(--*7$%1&4*0&20(%',*02&*4
23(2&.5.%&7$23$%& (& '$%1-.& 2$'';.6&,3.%*8 ,(,$--(0?&=.0+$'&(%=&;,,.0&0.2$);-(0&=.08 +(2.0$(-&*;2&*4&23.&)(,$--(0?9&E3.&./20(8
2?,$)(--?&=$'2$%)2&,*,;-(2$*%'&./$'26&'*+. +$'6&40.e;.%2-?&$%&23.&,0*/$+$2?&*4&5.'8 ,(,$--(0?& =.').%=$%1& -$+<'& *4& )(,$--(0?
*4& 73$)3& 0.-(2.& 2*& 0.1$*%(-& (%(2*+$)(- '.-'& *4& 23.& ';<,(,$--(0?& ,-./;'9& _.0+(- -**,'& (0.& 5.%*;'& )(,$--(0$.'& 23(2& =0($%
=$44.0.%).'9LZ6LL& E3.?& (0.& (-'*& $%'20;8 =.%=0*)?2.'& 4;%)2$*%& $%& 23.& (44.0.%2 $%2*&5.%*;'&)3(%%.-'&*4&23.&';<,(,$--(0?
+.%2(-& $%& 7*;%=& 3.(-$%1& (%=& ')(00$%16 -$+<&*4&(%&$++;%.&0.',*%'.&A'..&M3(,9 ,-./;'&23(2&-$.'&(<*5.&(%=&<.-*7&23.&(08
$%)0.('$%1& 23.$0& ,0*-$4.0(2$5.& (%=& '?%8 GQD9&E3.?& (0.& (-'*&-$#.-?& 23.&).--&*4& *0$8 2.0$*-(0& 5(');-(0& ,-./;'9& E3.& ,*'2)(,$-8
23.2$)&()2$5$2?&=;0$%1&23.'.&,0*).''.'9 1$%&*4&(&%;+<.0&*4&<.%$1%&S<0*2$)&,0*-$48 -(0?& 5.%;-.'& *4& 23.& ';<,(,$--(0?& ,-./;'
E3.& +*%*)?2.'6& +()0*,3(1.'6& (%= .0(2$5.& )*%=$2$*%'& $%& 23.& '#$%6& ';)3& (' (0.& ,3?'$*-*1$)(--?& $+,*02(%2& )*+,*8
=.0+(-&=.%=0*)?2.'&)*%'2$2;2.&23.&+*%*8 =.0+(2*S<0*+('& (%=& S<0*/(%23*+(' %.%2'& *4& 23.& +$)0*)$0);-(2$*%9& E3.?& (0.
%;)-.(0&,3(1*)?2$)&'?'2.+&*4&).--'&$%&23. A'..&M3(,9&LYD9 0.',*%'$5.& 2*& +.=$(2*0'& ';)3& ('& 3$'2(8
'#$%9& \()0*,3(1.'& (0.& =.0$5.=& 40*+ +$%.6& =.5.-*,$%1& 1(,'& <.27..%& (=H(8
,0.);0'*0'& $%& 23.& <*%.& +(00*76& =$44.08 ).%2&.%=*23.-$(-& ).--'& 23(2&(--*7&4*0&23.
.%2$(2.&$%2*&)$0);-(2$%1&+*%*)?2.'6&23.% 65231#!54'"3465*325$# ./20(5('(2$*%& *4& T;$=&(%=&).--'6& (%=& (0.
+$10(2.&$%2*&23.&=.0+$'&2*&=$44.0.%2$(2.9 23.0.4*0.& *42.%& 23.& '$2.'& *4& $%T(++(8
E3.'.& ).--'& (0.&,3(1*)?2$)K& ,0*).''& (%=
)LEE='"CGGCLG A"..&M3(,9&GL!D&
2*0?&).--'&=;0$%1&23.'.&0.',*%'.'9
,0.'.%2& (%2$1.%& 2*& $++;%*)*+,.2.%2 E3.& <-**=& 5.''.-'& *4& 23.& '#$%& ,0*5$=. M.02($%& 0.1$*%'& *4& 23.& '#$%6& ';)3& ('
-?+,3*$=& ).--'K& (0.& +$)0*<$)$=(-& A,0*8 %;20$2$*%&4*0&23.&2$'';.6&<;2&$%&(==$2$*%6 23.&,(-+'&(%=&'*-.'6&)*%2($%&=$0.)2&)*%8
=;)$%1& -?'*N?+.6& ,.0*/$=.6& (%=& ';,.08 23.?& (0.& $%5*-5.=& $%& 2.+,.0(2;0.& (%= %.)2$*%'& <.27..%& (02.0$(-& (%=& 5.%*;'
*/$=.D6& 2;+*0$)$=(-6& '.)0.2*0?& A10*723 <-**=&,0.'';0.&0.1;-(2$*%6&7*;%=&0.,($06 )$0);-(2$*%& ('& ,*2.%2$(-& '3;%2'& (0*;%=
4()2*0'6& )?2*#$%.'6& (%=& *23.0& $++;%*8 (%=& %;+.0*;'& $++;%*-*1$)& .5.%2'9LF )*%1.'2.=& )(,$--(0?& <.='9& E3.'.& '$2.'
+*=;-(2*0?&+*-.);-.'D6&(%=&3.+(2*,*$8 E3.& +$)0*)$0);-(2*0?& <.='& $%& '#$% )*%'$'2& *4& (%& (').%=$%1& (02.0$*-.& A(& 1-*8
.2$)& A'..& M3(,9&GQDK&(%=&(0.&$%5*-5.=& $% ,0*10.''& 40*+& (02.0$*-.'& 2*& ,0.)(,$--(0? +;'& <*=?D6&73$)3& $'& +*=$S.=& <?& 230..
)*(1;-(2$*%6&(23.0*1.%.'$'6&7*;%=&3.(-8 ',3$%)2.0'9& U/2.%=$%1& 40*+& 23.& ',3$%)8 2*&'$/&-(?.0'&*4&'+**23&+;')-.&).--'&(%=
$%16&(%=&2$'';.&0.+*=.-$%19& 2.0'& (0.& (02.0$(-& (%=& 5.%*;'& )(,$--(0$.'6 3('&(''*)$(2.=&'?+,(23.2$)&%.05.&S<.0'9
\('2&).--'&A'..&M3(,9&GZQD&(0.&',.)$(-8 73$)3& <.)*+.& ,*'2)(,$--(0?& 5.%;-.'6 E3.&1-*+;'&)(%&)-*'.&)*+,-.2.-?&73.%
$N.=& '.)0.2*0?& ).--'& 23(26& $%& '#$%6& (0. (%=& S%(--?6& )*--.)2$%1& 5.%;-.'9& O3.% 23.& <-**=& ,0.'';0.& $'& <.-*7& (& )0$2$)(-
,0.'.%2& $%& 10.(2.'2&=.%'$2?&$%&23.& ,(,$-8 )*+,(0.=& 7$23& 5(');-(2;0.& *4& *23.0 -.5.-9
-(0?&=.0+$'6&%.(0&23.&_Un6&$%&'3.(23'&*4 *01(%'6&23.&5.''.-'&*4&'#$%&(0.&(=(,2.= :%& 23.& (=;-26& 23.& );2(%.*;'& 5(');-(8
.,$=.0+(-& (,,.%=(1.'6& (%=& (0*;%= 2*& '3.(0$%1& 4*0).'6& ('& 23.?& 3(5.& 23$)# 2;0.& %*0+(--?& 0.+($%'& e;$.').%26& 7$23
<-**=&5.''.-'&(%=&%.05.'&*4&23.&';<,(,8 7(--'& ';,,*02.=& <?& )*%%.)2$5.& 2$'';. 23.& ./).,2$*%& *4& ).02($%& 3($0& )?)-.d=.8
$--(0?&,-./;'9& E3.?& (0.& (-'*& )*++*%& $% (%=& '+**23& +;')-.& ).--'9& ",.)$(-& ).--'6 ,.%=.%2& (%1$*1.%.'$'& =;0$%1& (%(1.%9
23.& ';<);2(%.*;'& 4(29& \('2& ).--'& (0. #%*7%&('&:!#)*2!))16&';00*;%=&23.&);2(%.8 p;$.').%).& *4& 5.''.-'& $'& $%& ,(02& =;.& 2*
$=.%2$S.=& 3$'2*-*1$)(--?& <?& (& 0*;%=& *0 *;'&+$)0*)$0);-(2$*%6&=.S%$%1&(&=*+($% $%3$<$2$*%&*4&(%1$*1.%.'$'&$%&23.&=.0+(-
*5(-&%;)-.;'&(%=&(<;%=(%26&=(0#-?&'2($%8 4*0&23.& 5.''.-'&7$23$%& 23.&=.0+$'&73$-. +(20$/&<?&4()2*0'&';)3&('&230*+<*',*%8
$%1&)?2*,-('+$)&10(%;-.'9&E3.&';04().&*4 0.+($%$%1& '.,(0(2.& 40*+& 23.& 5.''.- =$%9& R(23*1.%$)& '2$+;-$& '*+.2$+.'& 0.8
=.0+(-& +('2& ).--'& $'& )*(2.=& 7$23& S8 7(--'9 ';-2&$%&'.)*%=(0?&(%1$*1.%.'$'6&40*+&2;8
<0*%.)2$%6&73$)3&,0*<(<-?&(''$'2'&$%&'.8 E3.&0$)3&5(');-(0&%.27*0#&*4&23.&'#$% +*0'& *0& =;0$%1& 7*;%=$%19& W%.& *4& 23.
);0$%1&).--'&7$23$%&23.&)*%%.)2$5.&2$'';. $'&-*)(2.=&(2&<*;%=(0$.'&7$23$%&23.&=.08 #.?& +.=$(2*0'& *4& ';)3& (%1$*1.%.'$'& $'
+(20$/9& \('2& ).--'& )(%& <.)*+.& 3?,.08 +$'&(%=&';,,-$.'&23.&.,$=.0+(-&(,,.%=8 5(');-(0& .%=*23.-$(-& 10*723& 4()2*0
,-('2$)&(%=& 3?,.0,0*-$4.0(2$5.&$%&+('2*8 (1.'& A'..& J$19& GL!8XD9& E3.& 5.''.-'& 23(2 ACUfJD6&*42.%&'.)0.2.=&<?&2;+*0'&*0&<?
)?2*'$'& A'..& M3(,9& GZQD9& \('2& ).--'& (0. ';,,-?& 23.& =.0+$'& <0(%)3& 40*+& +;');8 #.0(2$%*)?2.'&A'..&M3(,9&GL!D9La6Lc
'.)0.2*0?& ).--'& 23(2& (0.& 0.',*%'$<-.& 4*0 -*);2(%.*;'& (02.0$.'& 23(2& ,.%.20(2.& 23. h;+.0*;'& =$'*0=.0'& )(%& +(%$4.'2
$++.=$(2.82?,.& 3?,.0'.%'$2$5$2?& 0.()8 ';<);2(%.*;'&4(2&(%=&.%2.0&23.&=..,&0.8 23.+'.-5.'&7$23$%&23.&);2(%.*;'&5(');8
2$*%&$%&23.&'#$%&(%=&(0.&$%5*-5.=&$%&23. 2$);-(0&=.0+$'9&P2&23$'&,*$%26&23.?&(0.&*08 -(2;0.9&[.;#*)?2*)-('2$)&5(');-$2$'&A);2(8
,0*=;)2$*%& *4& ';<();2.& (%=& )30*%$)& $%8 1(%$N.=& $%2*& (& 3*0$N*%2(-& (02.0$*-(0 %.*;'& %.)0*2$N$%1& 5.%;-$2$'D& *));0'
T(++(2*0?& =$'.('.9& E3.?& '?%23.'$N. ,-./;'9&J0*+&23$'&,-./;'6&(').%=$%1&(02.8 7$23$%& 23.& 5.%;-.'& $%& 0.',*%'.& 2*& (
'.)0.2*0?& 10(%;-.'& )*+,*'.=& *4& 3$'2(8 0$*-.'& ./2.%=& 2*7(0=& 23.& .,$=.0+$'9 %;+<.0&*4&,*2.%2$(-&,(23*1.%$)&+.)3(8
+$%.6& 3.,(0$%6& 20?,2('.6& )3?+('.6& )(08 E3.'.& (02.0$*-.'& )*%2($%& 27*& -(?.0'& *4 %$'+'&A'..&M3(,9&GLYD9&"2('$'&=.0+(2$2$'6
HG
;02$)(0$(6&,*-?(02.0$2$'&%*=*'(6&230*+<*8 (%=& -?+,3.=.+(& (%=& ,2*'$'& \JkG 2*0'6&40*+&+?.-$%(2.=&'2.+&(/*%'&$%&23.
'$'6&(%=&230*+<*,3-.<$2$'&(--&(44.)2&5.'8 A4*0#3.(=&20(%')0$,2$*%&4()2*06&J*/MXDFZ` =..,&=.0+(-&,-./;'6&23*;132&2*&<.&'-*78
'.-'&$%&23.&'#$%6&*4&=$44.0.%2&'$N.'6&'*+. 3('&$+,-$)(2.=&23.&CUfJ>8!&(%=&J*/MX (=(,2$%1& 0.).,2*0'& 23(2& 0.',*%=& 2*& 23.
<?& *))-;'$*%& *4& 5.''.-'& A5(');-*,(23?D $%&-?+,3(2$)&=.5.-*,+.%29 <.%=$%1&*0& +*5.+.%2&*4& 3($0'9&M3*-$%8
(%=& *23.0'& <?&$%T(++(2$*%& *4& 23.&5.'8 .01$)&'?+,(23.2$)&S<.0'&.%&0*;2.&2*&23.
'.-'&A5(');-$2$'D9 .))0$%.&'7.(2&1-(%=&(%=&(=0.%.01$)&(%=
65231#!54'1#$"#4' )3*-$%.01$)& S<.0'& .%& 0*;2.& 2*& 23.& (00.)8
31.'$#6#/2!$4 2*0&,$-$&+;')-.&(0.&)(00$.=&(-*%1&7$23&23.
*FJI?:M<PG
A"..&M3(,'9&GQG&(%=&GQXD E3.&%.05.&%.28 '.%'*0?&S<.0'&$%&23.&3($0&<('#.29
E3.&-?+,3&)3(%%.-'&*4&23.&'#$%&(0.&$+8 7*0#'& *4& 23.& '#$%& )*%2($%& '*+(2$)& '.%8 J0..&%.05.&.%=$%1'&(0.&(-'*&(''*)$(2.=
,*02(%2&$%&0.1;-(2$%1&,0.'';0.&*4&23.&$%8 '*0?& (%=& '?+,(23.2$)& (;2*%*+$)& S8 7$23& $%=$5$=;(-& \.0#.-& ).--'9& \.0#.-
2.0'2$2$(-& T;$=& <?& 0.'*0,2$*%& *4& T;$=& 0.8 <.0'9FL& E3.& '.%'*0?& S<.0'& (-*%.& A40.. ).--d%.05.&)*+,-./.'&(0.&=.')0$<.=&<?&(
-.('.=& 40*+& 5.''.-'& (%=& $%& )-.(0$%1& 23. %.05.& .%=$%1'D& *0& $%& )*%H;%)2$*%& 7$23 5(0$.2?&*4&%(+.'&A-+027*$+'!16 7!$!%#,+%'
2$'';.'&*4&).--'6&,0*2.$%'6&-$,$='6&<()2.0$(6 ',.)$(-$N.=& '20;)2;0.'& A)*0,;');-(0& 0.8 !.$#./16 <//+=1* 2("10)!6 >#.401* 2+%"012)!16
(%=& =.10(=.=& ';<'2(%).'9FQ6FG& E3.& 5.'8 ).,2*0'D& 4;%)2$*%& ('& 0.).,2*0'& *4& 2*;)36 ?((%127!#9!D6&=.,.%=$%1&*%&23.$0&)*+,*8
'.-'& <.1$%& $%& <-$%=8.%=$%1& $%$2$(-& -?+8 ,($%6&2.+,.0(2;0.6&$2)36&(%=&+.)3(%$)(- '$2$*%&(%=&-*)(2$*%9&:%&3($0.=&'#$%6&2*;)3
,3(2$)'&A(-'*&#%*7%&('&);'"7(-#2*2("#))(%& '2$+;-$9&E3.&=.%'$2?&(%=&2?,.'&*4&0.).,8 =*+.'&(0.&(''*)$(2.=&7$23&3($0&4*--$)-.'9
#!16 "%!);'"7(-#2* -090)!16& (%=& -!%'#.()& *0 2*0'& (0.& 0.1$*%(--?& 5(0$(<-.6& ())*;%2$%1 :%& ,(-+*,-(%2(0& '#$%6& 23.'.& )*+,-./.'
"!%#"7!%()*);'"7(-#21D&$%&23.&,(,$--(0?&=.08 4*0& 23.& 5(0$(2$*%& $%& ();$2?& (2& =$44.0.%2 (0.& 4*;%=& (2& 23.& '$2.& 73.0.& 23.& .))0$%.
+$'9&E3.?&=0($%&$%2*&(&3*0$N*%2(-&,-./;' '$2.'&*4&23.&<*=?9&>.).,2*0'&(0.&,(02$);8 '7.(2& =;)2& ,.%.20(2.'& (& 1-(%=;-(0& .,$8
*4& -(01.0& -?+,3& 5.''.-'& -*)(2.=& =..,& 2* -(0-?&=.%'.&$%&3($0-.''&(0.('&';)3&('&23. =.0+(-&,(,$--(9
23.&';<,(,$--(0?&5.%*;'&,-./;'9&P&5.02$8 (0.*-(6& -(<$(6& (%=& 1-(%'& ,.%$'9& "?+,(8 M*0,;');-(0& 0.).,2*0'6& <*23& \.$''8
)(-& '?'2.+& *4& -?+,3(2$)'& 23.%& )(00$.' 23.2$)& +*2*0& S<.0'& (0.& )*=$'20$<;2.= %.0V'&(%=&R()$%$(%6&)*%2($%&(&)(,';-.&(%=
T;$=& (%=& =.<0$'& 230*;13& 23.& 0.2$);-(0 7$23& 23.& '.%'*0?& %.05.'& $%& 23.& =.0+$' $%%.0& )*0.& (%=& (0.& )*+,*'.=& *4& <*23
=.0+$'& 2*& (%*23.0& =..,.0& )*--.)2$%1 ;%2$-&23.?&<0(%)3&2*&$%%.05(2.&23.&'7.(2 %.;0(-&(%=&%*%8%.;0(-&)*+,*%.%2'9&E3.
,-./;'& (2& 23.& 0.2$);-(0& =.0+$'d3?,*=.08 1-(%='6&5(');-(0&'+**23&+;')-.6&23.&(08 )(,';-.&$'&(&)*%2$%;(2$*%&*4&23.&,.0$%.;8
+$'&<*0=.09 0.)2*0& ,$-$& +;')-.& *4& 3($0& 4*--$)-.'6& (%= 0$;+6&(%=&23.&)*0.&$%)-;=.'&23.&%.05.&S8
[?+,3&T*7&7$23$%&23.&'#$%&=.,.%=' '.<().*;'&1-(%='9 <.0& ';00*;%=.=& <?& -(+.--(2.=& 70(,8
*%& +*5.+.%2'& *4& 23.& 2$'';.& )(;'.=& <? E3.&%.05.'&*4&'#$%&<0(%)3&40*+&+;'8 ,$%1'& *4& ")37(%%& ).--'9& \.$''%.0V'
(02.0$(-&,;-'(2$*%'&(%=&-(01.08')(-.&+;'8 );-*);2(%.*;'&%.05.'&23(2&(0$'.&'.1+.%8 )*0,;')-.'&(0.&.-*%1(2.=&*0&*5*$=&+.)38
)-.& )*%20()2$*%'& (%=& +*5.+.%2& *4& 23. 2(--?&40*+&',$%(-&%.05.'9&E3.&,(22.0%&*4 (%*0.).,2*0'& -*)(2.=& $%& 23.& =.0+(-& ,(8
<*=?6& 7$23& <()#T*7& ,0.5.%2.=& <?& <$8 %.05.&S<.0'&$%&'#$%&$'&'$+$-(0&2*&23.&5('8 ,$--(.& *4& =$1$2(-& '#$%& (%=& *0$.%2.=& 5.02$8
);',$=8-$#.&5(-5.'&7$23$%&23.&5.''.-'9 );-(0&,(22.0%'9&E3(2&$'6&%.05.&S<.0'&4*0+ )(--?&2*7(0=&23.&.,$=.0+(-&';04().&AJ$19
P-23*;13& -?+,3(2$)& 5.''.-'& (0.& *%-? (&=..,&,-./;'6&23.%&(').%=&2*&(&';,.0S8 F8aD9&W%.&2*&'$/&(/*%'&.%2.0&23.&)*0,;'8
'..%& 7$23& =$4S);-2?& *%& 3$'2*-*1$)& '.)8 )$(-6&';<,(,$--(0?&,-./;'9 )-.6&0(+$4?&./2.%'$5.-?6&(%=&2.0+$%(2.&$%
2$*%6&<.)(;'.&23.?&(0.&*42.%&)*--(,'.=&$% J0..& %.05.& .%=$%1'& $%)-;=.& 23.& ,.%$8 <;-<*$=&.%=$%1'&23(2&(0.&';00*;%=.=&<?
'#$%6& 23.?& (0.& )*+,*'.=& *4& (& -(01.& -;8 )$--(2.&(%=&,(,$--(0?&%.05.&S<.0'&(%=&(0. -(+.--(.9
+.%&(%=&(&23$%%.0&7(--&23(%&<-**=&5.'8 23.& +*'2& 7$=.',0.(=& (%=& $+,*02(%2 E3.& R()$%$(%& )*0,;')-.& -$.'& $%& 23.
'.-'6& 7$23& .%=*23.-$;+6& =$')*%2$%;*;' '.%'*0?& 0.).,2*0'& *4& 23.& <*=?9& :%& 3;8 =..,&=.0+$'&(%=&';<);2(%.*;'&2$'';.&*4
<('(-&-(+$%(6&(%=&.-('2$)&S<.0'9&\*-.);8 +(%'6&23.?&(0.&.%'3.(23.=&<?&")37(%%
-(0&)3(0()2.0$N(2$*%&*4&23.'.&5.''.-'&3(' ).--'&(%=&(&<('(-&-(+$%(9&J0..&%.05.&.%=8
$=.%2$S.=& R0*/G6& CUfJ>8!6& (%=& [qCU8G $%1'& (0.& ,(02$);-(0-?& )*++*%& $%& 23.
('&',.)$S)&+(0#.0'&*4&-?+,3(2$)&)3(0()8 ,(,$--(0?&=.0+$'K&23.&<('(-&-(+$%(&*4&23.
2.06&(%=&*%.&*4&23.&+*'2&3.(5$-?8'2;=$.= S<.0&+(?&+.01.&7$23&23.&-(+$%(&=.%'(
-?+,3(%1$*1.%$)& +*-.);-.'& $'& CUfJ8M *4&23.&<('.+.%2&+.+<0(%.&N*%.9
A'..&M3(,9&GL!D9 E3.& ,.%$)$--(2.& S<.0'& (0.& 23.& ,0$+(0?
M.02($%& ,(23*-*1$)& )*%=$2$*%'& $%8 %.05.& S<.0'& 4*;%=& ';<8.,$=.0+(--?& $%
5*-5.&*0&3$13-$132&23.&-?+,3(2$)&5.''.-'6 3($0.=& '#$%9& E3.'.& (0.& 0(,$=-?& (=(,2$%1
';)3& ('& -?+,3.=.+(6& -?+,3(%1$*+( 0.).,2*0'&23(2&4;%)2$*%&$%&23.&,.0).,2$*%
)$0);+')0$,2;+6& (%=& '2('$'& =.0+(2$2$'9 *4&2*;)36&2.+,.0(2;0.6&,($%6&(%=&$2)39&^.8
E3.& $+,*02(%).& *4& -?+,3(2$)'& $%& 23. )(;'.& *4& *5.0-(,,$%1& $%%.05(2$*%6& =$'8
,0*10.''$*%&(%=&',0.(=&*4&)(%).0&$'&(-'* )0$+$%(2$*%& 2.%='& 2*& <.& 1.%.0(-$N.=& $%
<.)*+$%1&+*0.&)-.(06&('&+.-(%*+(&).--' 23.'.& 0.1$*%'9& W%& 23.& *23.0& 3(%=6& 40..
=.'20*?& .%=*23.-$(-& ).--'& *4& 23.& $%$2$(- %.05.& .%=$%1'& ,0.'.%2& $%& %*%83($0.=6
-?+,3(2$)'& 2*& 1($%& .%20?& 2*& 23.& -?+,3 0$=1.=&'#$%6&';)3&('&23.&,(-+'&(%=&'*-.'6
)$0);-(2$*%6& (%=& 0.).%2& '2;=$.'& 3(5. ,0*H.)2&$%=$5$=;(--?&7$23*;2&*5.0-(,,$%1
'3*7%&23(2&2;+*0'&23.+'.-5.'&)(%&,0*8 =$'20$<;2$*%9&E3.'.&0.).,2*0'&(0.&23*;132
+*2.&-?+,3(%1$*1.%.'$'&('&,(02&*4&23.$0 2*&4;%)2$*%&$%&S%.&=$')0$+$%(2$*%9
.(0-?& ,0*10(+& *%& 23.& 7(?& 2*& +.2('2(8 R(,$--(0?& %.05.& .%=$%1'& (0.& 4*;%=& (2
'$'9La&E3.&=$')*5.0?&*4&23.&+*-.);-(0&=.8 23.& *0$S).& *4& (& 4*--$)-.9& E3.'.& <0(%)3.'
4.)2'&$%&3.0.=$2(0?&-?+,3.=.+('&]2?,.&: 40*+& %.05.'& 23(2& $%%.05(2.& 23.& =..,.0 =>?@<;,"A6 0C<GGNCBcG' PEBI@GPLC>' 1EMC' M?C
\$-0*?& =$'.('.& CUfJ>8!6FXdFY& 2?,.& :: -.5.-'& *4& 23.& 4*--$)-.& (0.& 23*;132& 2*& <. P:IG@LC':N='<NNCB'PEBC'LEP:MC='<N'M?C'=CBJ:L'I:I<L[
-?+,3.=.+(&,0(.)*/6&-?+,3.=.+(&=$'8 ,(02$);-(0-?& 0.).,2$5.& 2*& )*-=& '.%'(2$*%9 L:C>'2?CGC'PELLCPM<ENG'EO'PCLLG'GCB;C':G'JCP?:NEBC[
2$)3$('$'6&-?+,3.=.+(&(%=&?.--*7&%($-'6 k($0& 4*--$)-.'& (-'*& )*%2($%& *23.0& 0.).,8 PCIMEBG>'U5GC='S<M?'ICBJ<GG<EN'OBEJ'!>'7E;<P?-'0.>V
H!
'#$%&23(2&)*5.0'&7.$1328<.(0$%1&';04().'
*4& 23.& <*=?9& :2& 3('& (& )3(0()2.0$'2$)& )(,8
';-.& (%=& -(+.--(0& 70(,,$%1'& AJ$19& F8cD9
E3.&,.0$%.;0(-&)(,';-.&$'&*01(%$N.=&$%2*
!Q&*0&+*0.&)*%).%20$)&-(?.0'&*4&).--'&(%= =>?@<;,"AD /:P<N<:N'PEBI@G[
S<0*;'& )*%%.)2$5.& 2$'';.9& E3.& +$==-.
PLC>' 1EMC' M?C' P?:B:PMCB<GM<P' ICB<[
';<)(,';-(0& N*%.& $'& )*+,*'.=& *4& )*-8
NC@B:L' P:IG@LC-' L<TCNC=' ME' M?C
-(1.%&(%=&S<0*<-('2'6&(%=&23.&$%%.0&)*0.
)*%'$'2'& *4& ")37(%%& ).--8=.0$5.=& 3.+$8 :IIC:B:NPC' EO' :N' iEN<EN[GT<N>j
-(+.--(.@&T(22.%.=&'.+$)$0)-.'&23(2&(-2.08 /:P<N<:N'PEBI@GPLCG'GCB;C':G'B:I[
%(2.&7$23&23*'.&*4&23.&*,,*'$2.&'$=.9&R(8 <=LF' :=:IM<NW' JCP?:NEBCPCIMEBG
)$%$(%& )*0,;')-.'& '.05.& ('& 0(,$=-? M?:M'BCGIEN='ME';<KB:M<EN:L'GM<J@L<>
(=(,2$%1& +.)3(%*0.).,2*0'& 23(2& 0.8 U5GC=' S<M?' ICBJ<GG<EN' OBEJ' !>
',*%=&2*&5$<0(2$*%(-&'2$+;-$9 7E;<P?-'0.>V
3#6'h':NTFLEKLCI?:BEN[CPME=CBJ:L'=FGIL:G<:[PLCOM<NWa')6%#'h'K@LLE@G'PENWCN<M:L'<P?M?FEG<OEBJ'CBFM?BE=CBJ:a')0/G'h'KENC'JEBI?EWCNCM<P'IBEMC<NGa')/3+'h'K@LLE@G'
ICJI?<WE<=':NM<WCNa'#)'h'CI<=CBJELFG<G'K@LLEG:a'##6'h'CPMBE=:PMFLF[CPME=CBJ:L'=FGIL:G<:[PLCOM<NWa'+3)#)'h'WCNCB:L<\C=':MBEI?<P'KCN<WN'CI<=CBJELFG<G'K@LLEG:a'882'
h'?CBC=<M:BF'?CJEBB?:W<P'MCL:NW<CPM:G<:a'7'h'TCB:M<Na'7%.'h'TCB:M<M<G[<P?M?FEG<G[=C:ONCGGa'0.'h'J@LM<ILC'=FGMBEI?Fa'16%#'h'NEN[K@LLE@G'PENWCN<M:L'<P?M?FEG<OEBJ'
CBFM?BE=CBJ:a'1+($'h'NCB;C'WBESM?'O:PMEB'BCPCIMEBa'/3'h'IFLEB<P':MBCG<:a'/^#'h'IGC@=ER:NM?EJ:'CL:GM<P@J>
/BEMC<N'N:JCG':BC'<N=<P:MC='<N'_'&.3-2$>'3GGEP<:MC='=<GC:GCG]WCNE=CBJ:MEGCG':BC'L<GMC='<N'I:BCNM?CGCG>'0@LM<ILC'N:JCG'OEB'M?C'G:JC'IBEMC<N'EB'GFN=BEJC':BC'GCI:[
H6 B:MC='KF']>'+CNCG':N=':GGEP<:MC='=<GC:GCG'P:N'KC'OE@N='<N'!NL<NC'0CN=CL<:N'%N?CB<M:NPC'<N'0:N'U!0%0V':M'?MMIA]]SSS>NPK<>NLJ>N<?>WE;]EJ<J>
.+<0?*%$)& .,$=.0+(-& ).--'& 23(2& (0. 23.&=.5.-*,$%1&<('(-&-(+$%(&A'..&_.0+(-8 (%*<-('2'6&*0&(-2.0%(2$5.-?6&+*'($)&=.4.)2'
-(01.0& (%=& T(22.0& 23(%& 23.& ;%=.0-?$%1 U,$=.0+(-& n;%)2$*%D6& $%)-;=$%1& 3.+$=.'8 $%&,$1+.%2&20(%'4.0&40*+&+.-(%*)?2.'&2*
<('(-& ).--'9& P,$)(-& ';04().'& )*%2()2& 23. +*'*+(-& ,0*2.$%'& ^RPfG6& ^RPfX6& (%= #.0(2$%*)?2.'9&E3.&4*;%=.0'&*4&.()3&+.-8
(+%$*2$)&T;$=&(%=&(0.&'2;==.=&7$23&+$8 )*--(1.%'& C& (%=& C::& A'..& M3(,'9& ZG6& ZY6 (%*<-('2&)-*%.&*0$1$%(2.&(2&=$'2$%)2&,*$%2'
)0*5$--$9&M*%%.)2$*%'&<.27..%&,.0$=.0+ (%=&LQD9 (-*%1&23.&=*0'(-&+$=-$%.6&20(5.0'$%1&5.%8
).--'& (0.& '.(-.=& 7$23& 2$132& H;%)2$*%' U+<0?*%$)&-$%.'&*4&.)2*=.0+(-&4*0+(8 20(--?&(%=&=$'2(--?&2*&2(#.&;,&0.'$=.%).&$%
0(23.0&23(%&=.'+*'*+.'9&^?&23.&.%=&*4 2$*%& (0.& 0.5.(-.=& $%& +*'($)& =$'*0=.0' 23.&.,$=.0+$'9&
23.& '.)*%=& 20$+.'2.06& 23.'.& ).--'& (0. 23(2&4*--*7&23.&-$%.'&*4&^-(')3#*6&$%)-;=8 \.-(%*)?2.'& (0.& S0'2& '..%& 7$23$%& 23.
'-*;13.=& (%=& .5.%2;(--?& 4*0+& ,(02& *4 $%1& )*%1.%$2(-6& %.5*$=6& (%=& ()e;$0.= .,$=.0+$'& (2& ZQ& =(?'& UfP9& \.-(%*)?2.'
23.& 5.0%$/& )('.*'(9& [$#.& '20(2$S.=& .,$8 )*%=$2$*%'9c!dcZ& \*-.);-(0& =.+*%'20(2$*% ./,0.''& $%2.10$%& 0.).,2*0'& $%& 5$5*& (%=& $%
23.-$(-& ).--'6& ,.0$=.0+& ).--'& ./,0.''& bZ *4&1.%.2$)&+*'($)$'+&3('&<..%&0.,*02.= 5$20*&(%=&+(?&;'.&23.'.&2*&+$10(2.&2*&23.
(%=& bGY6& <;2& 23.?& (-'*& ./,0.''& '$+,-. 4*0& (& %;+<.0& *4& m8-$%#.=& =$'*0=.0'& A0.8 .,$=.0+$'& =;0$%1& .+<0?*%$)& =.5.-*,8
.,$23.-$(-&#.0(2$%'&ba6&bGa6&(%=&bGc9 5$.7.=&$%&0.49&cYD6&('&7.--&('&.,$=.0+(- +.%29& \$10(2$*%6& )*-*%$N(2$*%6& ,0*-$4.0(8
P,-('$(&);2$'&A'..&M3(,9&GQLD&+(?&0.8 %.5$&$%&.,$=.0+*-?2$)&3?,.0#.0(2*'$'9cL 2$*%6&(%=&';05$5(-&*4&+.-(%*)?2.'&$%&=.5.-8
T.)2& 4*)(-& =.4.)2'& $%& .$23.0& .,$=.0+(- *,$%1& '#$%& =.,.%=& *%& 23.& ).--& ';04().
',.)$S)(2$*%&*0&=.5.-*,+.%2&)(;'.=&<? 98M;, =;M89, #;P;9LJN;KM, Y#>==;<;KM>8A 2?0*'$%.& #$%('.& 0.).,2*06& 2&4#-6& (%=& $2'& -$8
'*+(2$)& +*'($)$'+6& *0& +;2(2$*%'& 23(2 M>LKZ [(2.&4.2(-&=.5.-*,+.%2&0.5.(-'&23. 1(%=6& '2.+& ).--& 4()2*09cF6ca& \.-(%$%& <.8
*));0& ,*'2N?1*2$)(--?9& E3.& +*-.);-(0 4;023.0& ',.)$(-$N(2$*%& (%=& =$44.0.%2$(8 )*+.'&=.2.)2(<-.&<.27..%&!&(%=&Y&+*%23'
=.4.)2& 4*0& 23$'& =$'*0=.0& $'& %*2& #%*7%6 2$*%&*4&#.0(2$%*)?2.'&$%&23.&.,$=.0+$'9&:2 UfP6&(%=&<?&Z&+*%23'6&+.-(%*'*+.'&<.8
3*7.5.09&E3.&4()2&23(2&4.7&1.%.2$)&=$'8 $'&(2&23$'&2$+.&23(2&23.&10(%;-(0&(%=&'20(8 1$%& 2*& 20(%'4.0& ,$1+.%2& 2*& #.0(2$%*)?2.'9
.('.'&3(5.&<..%&=.')0$<.=&$%&73$)3&.,$8 2;+& )*0%.(-& -(?.0'& (0.& 4*0+.=6& (%= \(%?& 1.%.2$)& =$'*0=.0'& *4& ,$1+.%2(2$*%
=.0+(-& ',.)$S)(2$*%& *0& +*0,3*1.%.'$' 23.& 0;=$+.%2(0?& ,.0$=.0+& $'& '-*;13.=9 3(5.&<..%&)3(0()2.0$N.=&(%=&(0.&,0.'.%2.=
(0.&=.4.)2$5.&-$#.-?&0.T.)2'&23.&4()2&23(2 b.0(2$%$N(2$*%& *4& 23.& ';04().& .,$=.0+$' $%&=.2($-&$%&M3(,'9&FG6&F!6&(%=&GYY9&:%&23.
';)3& =.4.)2'& 7*;-=& <.& $%)*+,(2$<-. $'&(&,0*).''&*4&#.0(2$%*)?2.&2.0+$%(-&=$48 (=;-26&(&,**-&*4&+.-(%*)?2.&,0.);0'*0&).--'
7$23&';05$5(-9 4.0.%2$(2$*%& 73$)3& <.1$%'& (2& GZ& 7..#' 0.'$=.'&$%&23.&;,,.0&,.0+(%.%2&,*02$*%&*4
UfP9&E3.&10(%;-(0&-(?.0&<.)*+.'&,0*+8 23.&3($0&4*--$)-.6&)(,(<-.&*4&,0*=;)$%1&+(8
;8<9:,=;M89,#;P;9LJN;KM,YNL<J[L?;KA $%.%26&(%=&$+,*02(%2&'20;)2;0(-&,0*2.$%' 2;0.&+.-(%*)?2.'9cF6cc6GQQ
;/>/Z ^?&23.&.%=&*4&a&7..#'&*4&1.'2(2$*%6 (0.& .-(<*0(2.=& $%& 23.& <('(-& -(?.0& ).--'9 [(%1.03(%'& ).--'6& (%*23.0& $++$10(%2
3.+(2*,*$.'$'&3('&'7$2)3.=&40*+&23.&./8 E3.& 3.+$=.'+*'*+(-& ,0*2.$%'& ,-.)2$% ,*,;-(2$*%6& (0.& =.2.)2(<-.& <?& YQ& =(?'
20(.+<0?*%$)& ?*-#& '()& 2*& 23.& <*%.& +(08 (%= L Y& $%2.10$%& (0.& ./,0.''.=& (%= UfP9&E3.?&<.1$%&2*&./,0.''&M_G&*%&23.$0
0*76& 23.& )-(''$)(-& =$5$'$*%& <.27..%& .+8 )*00.)2-?& -*)(-$N.=& (2& 23$'& 2$+.9& \;2(8 ';04().&(%=&2*&,0*=;).&23.$0&)3(0()2.0$'2$)
<0?*%$)& (%=& 4.2(-& =.5.-*,+.%29& ^?& 23$' 2$*%'& $%& 23.'.& 1.%.'& 0.';-2& $%& 5(0$*;' ^$0<.)#& 10(%;-.'& <?& 23.& .+<0?*%$)d4.2(-
2$+.6& 23.& .,$=.0+$'& <.1$%'& $2'& '20(2$S)(8 <;--*;'& 1.%*=.0+(2*'.'& A0.5$.7.=& $% 20(%'$2$*%9&^?&23.&23$0=&20$+.'2.06&+*'2&*4
2$*%& (%=& 4*0+(2$*%& *4& (%& $%2.0+.=$(2. M3(,9&LQD9&E3.&+*0.&';,.0S)$(-&).--'&;%8 23.& (=;-2& %;+<.0'& *4& [(%1.03(%'& ).--'
-(?.0& <.27..%& 23.& 27*& ,0.8./$'2$%1& ).-- =.01*& 4;023.0& 2.0+$%(-& =$44.0.%2$(2$*%6 7$--&3(5.&<..%&,0*=;).=9
-(?.0'9&E3.&).--'&$%&23$'&%.7&-(?.0&(0.&'$+8 (%=& 23.& #.0(2$%8(110.1(2$%1& ,0*2.$%& S-8 \.0#.-& ).--'6& ('& =.')0$<.=& .(0-$.0& $%
$-(0&2*&23.&).--'&*4&23.&',$%*;'&-(?.0&$%&+(8 (110$%&$'&./,0.''.=&(2&23$'&2$+.9 23.& )3(,2.0& A'..& h*%#.0(2$%*)?2.'& *4
2;0.& .,$=.0+$'9& [$#.& ',$%*;'& ).--'6& 23.? E3.& 4*0+(2$*%& *4& 23.& )*0%$S.=& .%5.8 23.& U,$=.0+$'D6& 0.'$=.& $%& 23.&.,$=.0+$'9
./,0.''& #.0(2$%'&bGgbGQ& (%=& 23.& =.'+*8 -*,.& $'& (& -(2.& 4.(2;0.& *4& =$44.0.%2$(2$%1 E3.?&(0.&S0'2&=.2.)2(<-.&$%&23.&5*-(0&.,$8
'*+(-&,0*2.$%&=.'+*1-.$%8!9&E3.&).--'&(0. #.0(2$%*)?2.'6&(%=&$2&0.-$.'&*%&(&%;+<.0 =.0+$'& *4& 23.& GG8& 2*& GX87..#& UfP& 3;8
'2$--& 3$13-?& ,0*-$4.0(2$5.& (%=6& =;0$%1& 23$' *4& =$44.0.%2& +*=$S)(2$*%'& 2*& )0.(2.& (% +(%&4.2;'9&E3.&.+<0?*%$)&=.0$5(2$*%&*4
,.0$*=&*4&=.5.-*,+.%26&23.?&.5*-5.&$%2*&( $+,.0+.(<-.& <(00$.09& U%N?+.'& ';)3& (' 23$'& ,*,;-(2$*%& *4& ).--'& $'& )*%20*5.0'$(-9
+;-2$-(?.0& '20;)2;0.& 23(2& 7$--& .5.%2;(--? 20(%'1-;2(+$%('.6& [UbE:& A.%)*=.=& <? U5$=.%).& 4*0& $%& '$2;& =$44.0.%2$(2$*%& *4
0.,-().&23.&=.1.%.0(2$%1&,.0$=.0+9 23.& 1.%.& "R:hb8ZD6& ,3?2(%*?-& )*.%8 \.0#.-& ).--'& 40*+& .,$=.0+(-& .)2*=.0+
U/,0.''$*%&*4&23.&,L!&1.%.&,-(?'&(&)0$28 N?+.&P&0.=;)2('.6&4(22?&(-=.3?=.&=.3?8 5.0';'&$++$10(2$*%&*4&\.0#.-&).--'&40*+
$)(-&0*-.&$%&23.&,0*-$4.0(2$*%&(%=&+($%2.8 =0*1.%('.6& (%=& '2.0*$=& ';-4(2('.& (0.& (-- %.;0(-& )0.'2& $'& ';,,*02.=& <?& '2;=$.'& $%
%(%).&*4&23.&<('(-&-(?.0&).--'9&U,$=.0+(- $+,*02(%2& $%& 23.& .-(<*0(2$*%& *4& 23. 73$)3& a8& (%=& GG87..#& UfP& 4.2(-& 5*-(0
'20(2$S)(2$*%&=*.'&%*2&*));0&$%&+$).&=.S8 )*0%$S.=&.%5.-*,.&(%=&+(2;0.&-$,$=&<(08 '#$%&23(2&-()#.=&\.0#.-&).--'&7('&20(%'8
)$.%2& 4*0& ,L!9aFdac& :%& 3;+(%'6& (-23*;13 0$.06& (%=& =.4.)2'& $%& 23.'.& .%N?+.'& )(% ,-(%2.=&2*& 23.&%;=.&+*;'.9&E$'';.& 3(08
%*& %;--& +;2(2$*%'& 3(5.& <..%& $'*-(2.=6 -.(=& 2*& (<%*0+(-& .,$=.0+(-& <(00$.0& 4*08 5.'2.=&a&7..#'&-(2.0&)*%2($%.=&(%&(<;%8
,(02$(-& -*''& *4& ,L!& 4;%)2$*%& +;2(2$*%' +(2$*%&A'..&M3(,9&YFD9 =(%).& *4& 3;+(%& bGa8,*'$2$5.& \.0#.-
3(5.&<..%&$=.%2$S.=&$%&(%#?-*<-.,3(0*%6 ).--'& 7$23$%& 23.& .,$=.0+$'6& ';11.'2$%1
.)2*=.0+(-&=?',-('$(6&(%=&)-.42&-$,g,(-(2. /J;O>89>W;#, O;99/, T>M[>K, M[;, ;J>#;<A 23(2& 23.& ).--'& =$44.0.%2$(2.=& 7$23$%& 23.
'?%=0*+.&Ak(?8O.--'&'?%=0*+.D&('&7.-- N>/ E3.& 230..& +(H*0& %*%.,$=.0+(-& ).-- 10(42.=& 2$'';.9GQG& W%& 23.& *23.0& 3(%=6
('& .)20*=()2?-?6& .)2*=.0+(-& =?',-('$(6 2?,.'I+.-(%*)?2.'6& [(%1.03(%'& ).--'6 +*0.& 0.).%2& -$%.(1.& 20()$%1& '2;=$.'& ;'8
(%=&)-.42&-$,g,(-(2.&'?%=0*+.&A'..&M3(,9 (%=& \.0#.-& ).--'I)(%& <.& =.2.)2.= $%1&(&%.;0(-8)0.'2&',.)$S)&-(<.-&3(5.&';18
GY!D9cQdcX&E3.&,0.8./$'2$%1&<('(-&).--&-(?.0 7$23$%& 23.& .,$=.0+$'& <?& 23.& .%=& *4& 23. 1.'2.=& 23(2& \.0#.-& ).--'& $%=..=& 3(5.& (
(-'*& ;%=.01*.'& +*0,3*-*1$)& )3(%1.'& (2 .+<0?*%$)& ,.0$*=9& \.-(%*)?2.'& (0.& =.8 %.;0(-&)0.'2&*0$1$%9ZG
23$'& 2$+.6& <.)*+$%1& +*0.& );<*$=(-& (%= 0$5.=& 40*+& 23.& %.;0(-& )0.'26& (& ';<'.2& *4
./,0.''$%1& %.7& #.0(2$%& 1.%.'6& bL6& ba6 %.;0*.)2*=.0+& ).--'9& R$1+.%2& +*'(8 .CBJ:L':N='4@KP@M:NCE@G'
bGc6& (%=& bLgbGL6& 23(2& (0.& ;';(--?& ./8 $)$'+&A4*0+.0-?&)(--.=&7;"+'!)(.+1#1*+,*<-+
.C;CLEIJCNM
,0.''.=&$%&3?,.0,0*-$4.0(2$5.&2$'';.'9&E3. (%= )#.!(%*(.$*@7+%)!$*7;"!%'!)(.+1#1D&A'..
<('(-& -(?.0& (-'*& <.1$%'& 2*& .-(<*0(2.& ,0*8 M3(,9&F!D&4*--*7$%1&23.&-$%.'&*4&^-(')3#* E3.&*0$1$%&*4&23.&=.0+$'&(%=&';<);2(%.8
2.$%'&23(2&7$--&;-2$+(2.-?&(%)3*0&23.+&2* +(?& 0.T.)2& 23.& +$10(2*0?& ,(23'& *4& +.-8 *;'& 2$'';.& $'& +*0.& =$5.0'.& 23(%& 23(2& *4
HD
23.& .,$=.0+$'6& 73$)3& $'& ./)-;'$5.-?& .)8 *01(%$N.=6& ';)3& 23(2& (2& <$0236& $2& 0.'.+8 2(0?& 3.+*003(1$)& 2.-(%1$.)2('$(& 3(5.
2*=.0+(--?&=.0$5.=9&E3.& .+<0?*%$)& 2$'8 <-.'&23.&=.0+$'&*4&23.&(=;-26&(-23*;13&$2 <..%& -$%#.=& 2*& +;2(2$*%'& $%& 20(%'8
';.& 23(2& 4*0+'& 23.& =.0+$'& =.,.%='& *% $'&'2$--&+*0.&).--;-(09 4*0+$%1&10*723&4()2*08 d<$%=$%1&,0*8
23.& ',.)$S)& <*=?& '$2.9GQX6GQ!& _.0+(- \(%?&7.--8#%*7%&)-$%$)(-&'?%=0*+.' 2.$%'6& .%=*1-$%6& (%=& ()2$5$%& 0.).,2*08
+.'.%)3?+.& *4& 23.& 4().& (%=& (%2.0$*0 (%=& +*-.);-.'& 3(5.& <..%& =$')*5.0.= -$#.&#$%('.&G9
')(-,& $'& =.0$5.=& 40*+& %.;0(-& )0.'2& .)2*8 23(2&(44.)2&23$'&S%(-&'2(1.&*4&=.0+(-&=$48
=.0+9& E3.& -$+<& (%=& 5.%20(-& <*=?& 7(-- 4.0.%2$(2$*%9&E3.'.&=$'.('.'&$%)-;=.&=?'8 /0123)456(. P));+;-(2$%1&.5$=.%).&';18
+.'.%)3?+.&$'&=.0$5.=&40*+&23.&-(2.0(- 20*,3$)& U^& A(& )*--(1.%& C::& =.4.)2D& A'.. 1.'2' 23(2&-?+,3(2$)'&*0$1$%(2.&40*+&.%8
,-(2.& +.'*=.0+9& E3.& =*0'(-& <*=?& 7(-- M3(,9& LQD6& \(04(%& '?%=0*+.& A(& =.4.)2 =*23.-$(-& ).--'& 23(2& <;=& *44& 40*+& 5.$%'9
+.'.%)3?+.& =.0$5.'& 40*+& 23.& =.08 $%& S<0$--$%D6& U3-.0'8_(%-*'& '?%=0*+. E3.& ,(22.0%& *4& .+<0?*%$)& -?+,3(2$)
+*+?*2*+.'&*4&23.&.+<0?*%$)&'*+$2.9 A)*--(1.%&CD6&);2$'&-(/(&A.-('2$%D6&RmU6&3.8 5.''.-& =.5.-*,+.%2& ,(0(--.-'& 23(2& *4
[:\& 3*+.*<*/& 20(%')0$,2$*%& 4()2*0& G 0.=$2(0?&3.+*003(1$)&2.-(%1$.)2('$(&AW'8 <-**=& 5.''.-'9& _.2($-.=& +*-.);-(0& '2;=8
<.2(&A[+/G^D&(%=&O%2F(&(0.&$+,*02(%2 -.08O.<.08>.%=;&'?%=0*+.D6&(%=&*'2.*8 $.'& $%2*& 23.&=.5.-*,+.%2&*4& -?+,3(2$)'
$%& 23.& ',.)$S)(2$*%& *4& 23.& =*0'(- 1.%.'$'& $+,.04.)2(& A'..& M3(,9& G!cD9& :% =;0$%1& .+<0?*1.%.'$'& (%=& 4.2(-& =.5.-8
-$+<9GQYdGQL&U%G&(%=&^\R'6&*%&23.&*23.0 +(%?&*4&23.'.&)('.'6&23.&',.)$S)&1.%.2$) *,+.%2& 3(5.& -*%1& <..%& 3(+,.0.=& <?
3(%=6& ',.)$4?& 23.& 5*-(0& A5.%20(-D& -$+< =.4.)2& 3.-,'& 2*& =.S%.& 23.& +(%?& =$44.08 23.& -()#& *4& -?+,3(2$)8',.)$S)& +(0#.0'9
+.'.%)3?+.&A'..&E(<-.&F8ZD9aa6GQZ .%2&+(%$4.'2(2$*%'&*4&23.'.&=$'.('.'6&(-8 k*7.5.06&0.).%2&'2;=$.'&3(5.&$=.%2$S.=
E3.& .+<0?*%$)& =.0+$'6& $%& )*%20('2& 2* 23*;13& $%& ).02($%& )('.'& A.9196& RmUD6& 23. %.7&1.%.'&23(2&(,,.(0&2*&<.&',.)$S)&4*0
23.& +(2;0.& =.0+$'6& $'& ).--;-(0& (%=& (+*08 $=.%2$2?&*4&23.&1.%.&=*.'&%*2&0.(=$-?&./8 '*+.& *4& 23.& .(0-$.'2& -?+,3(2$)& ,0.);08
,3*;'6& 7$23& 4.7& *01(%$N.=& S<.0'9& E3. ,-($%& 23.& +.)3(%$'+& *4& =$'.('.& A'.. '*0'9&[qCU8G&(%=&R0*/8G& (0.&1.%.'& )*%8
+(2;0.&=.0+$'&)*%2($%'&(&)*+,-./&+.'3 M3(,9&G!cD9 '$=.0.=& 2*& <.& )0$2$)(-& 4*0& .(0-$.'2& -?+8
*4&)*--(1.%&(%=&.-('2$)&S<.0'&.+<.==.=&$% ,3(2$)& ',.)$S)(2$*%6& 73.0.('& CUfJ8>!
(&+(20$/&*4&Rf'6&73.0.('&23.&.+<0?*%$) /J;O>89>W;#, OLNJLK;KM/, L=, M[;, #;<A (%=&"[M&+(?&<.&$+,*02(%2&$%&-(2.0&-?+8
+.'.%)3?+.& )*%2($%'& (& -(01.& 5(0$.2?& *4 N>/ !"##$%&'(('"(%)*$%+',-'(. M;2(%.*;' ,3(2$)&=$44.0.%2$(2$*%9GQF
,-;0$,*2.%2&).--'&$%&(&3?=0(2.=&1.-&23(2&$' %.05.'&(%=&5.''.-'&<.1$%&2*&4*0+&.(0-?
0$)3&$%&3?(-;0*%$)&()$=9&E3.'.&+.'.%)3?8 =;0$%1&1.'2(2$*%6&<;2&23.?&=*&%*2&.5*-5. +',-'(. E3.& =.5.-*,+.%2& *4& );2(%.*;'
+(-& ).--'& (0.& 23*;132& 2*& <.& 23.& ,0*1.%$8 $%2*&23*'.&*4&23.&(=;-2&;%2$-&(&4.7&+*%23' %.05.'&,(0(--.-'&23(2&*4&23.&5(');-(0&'?'8
2*0'& *4& )(02$-(1.8,0*=;)$%1& ).--'6& (=$,*'. (42.0&<$0239&E3.&,0*).''&*4&5(');-*1.%.'$' 2.+& $%&2.0+'& *4& ,(22.0%$%16&+(2;0(2$*%6
2$'';.6&=.0+(-&S<0*<-('2'6&(%=&$%20(+.+8 0.e;$0.'&23.&$%&'$2;&=$44.0.%2$(2$*%&*4 (%=& *01(%$N(2$*%9& h.05.'& *4& 23.& '#$%
<0(%*;'&<*%.9&_.0+(-&S<.0'&./$'2&('&S%. 23. .%=*23.-$(-&).--'&(2&23.&.%=*=.0+d )*%'$'2& *4& '*+(2$)& '.%'*0?& (%=& '?+,(8
S-(+.%2'& <;2& %*2& 23$)#& S<.0'9& E3.& ,0*8 +.'*=.0+&$%2.04().9&W0$1$%(--?6&3*0$N*%8 23.2$)& (;2*%*+$)& S<.0'6& 73$)3& (0.& ,0.8
2.$%&)*+,*%.%2'&*4&23.&4;2;0.&.-('2$%&(%= 2(-&,-./;'.'&(0.&4*0+.=&7$23$%&23.&';<8 =*+$%(%2-?&'+(--&(%=&;%+?.-$%(2.=9&P'
)*--(1.%& S<.0'& (0.& '?%23.'$N.=& =;0$%1 ,(,$--(0?&(%=&=..,&0.2$);-(0&=.0+$'6&73$)3 23.'.&%.05.'&=.5.-*,6&23.?&<.)*+.&+?8
23$'& ,.0$*=& <;2& %*2& (''.+<-.=9& P2& 23$' (0.&$%2.0)*%%.)2.=&<?&10*;,'&*4&5.02$)(- .-$%(2.=6&7$23&(''*)$(2.=&=.)0.('.&$%&23.
,*$%26&23.0.&$'&%*&*<5$*;'&'.,(0(2$*%&<.8 5.''.-'9&E3$'&-(22$).&*4&5.''.-'&$'&$%&,-(). %;+<.0& *4& (/*%'9& E3$'& ,0*).''& +(?
27..%& ).--'& 23(2& 7$--& <.)*+.& +;');-*8 <?&YZ&2*&ZQ&=(?'&UfP9 )*%2$%;.&('&-*%1&('&,;<.02?9
'#.-.2(-&.-.+.%2'&(%=&23*'.&23(2&7$--&1$5. P2& c& 7..#'& UfP6& <-**=& 5.''.-'& (0.
0$'.&2*&23.&'#$%&=.0+$'9 '..%& (2& 23.& =.0+(-d3?,*=.0+(-& H;%)8
P-23*;13&23.0.&$'&%*&#%*7%&$%3.0$2.= 2$*%9&^?&!&+*%23'6&23.&=$'2$%)2&%.27*0#'
4@KP@M<G
=$'*0=.0&*4&=.0+(-&=.5.-*,+.%26&).02($% *4& 3*0$N*%2(-& (%=& 5.02$)(-& 5.''.-'& 3(5.
)*%=$2$*%'6& ';)3& 4*)(-& =.0+(-& 3?,*,-(8 4*0+.=9& ^?& 23.& S423& +*%236& 4;023.0 P'& +.%2$*%.=& $%& ",.)$(-$N.=& M*+,*8
'$(& Af*-2N& '?%=0*+.D& (%=& R0*2.;'& '?%8 )3(%1.'& $%& 23.& 5(');-(2;0.& =.0$5.& 40*+ %.%2'& *4& 23.& _.0+$'6& <?& ZQ& 2*& LQ& =(?'
=0*+.6&./3$<$2&4*)(-&=.4.)2'6&,0*<(<-?&( <;==$%1& (%=& +$10(2$*%& *4& .%=*23.-$;+ UfP6&23.&3?,*=.0+$'&$'&'.,(0(2.=&40*+
0.';-2& *4& 1.%.2$)& +*'($)$'+& (44.)2$%1 40*+&,0.8./$'2$%1&5.''.-'6&23.&,0*).''&*4 23.&*5.0-?$%1&=.0+$'&<?&(&,-(%.&*4&23$%8
1.%.'& $+,*02(%2& $%& 23$'& ,0*).''& A'.. (%1$*1.%.'$'9& _.,.%=$%1& *%& 23.& <*=? 7(--.=& 5.''.-'9& E*7(0=& 23.& .%=& *4& 23.
M3(,9& G!cD9 \;2(2$*%'& )(;'$%1& (& 1-*<(- 0.1$*%6&1.'2(2$*%(-&(1.6&(%=&,0.'.%).&*4 S0'2& 20$+.'2.06& 23.& +(20$/& *4& 23.& 3?,*8
=.4.)2&$%&23$'&,0*).''&7*;-=&-$#.-?&<.&$%8 3($0&4*--$)-.'&(%=&1-(%='6&23$'&,(22.0%&)(% =.0+$'& )(%& <.& =$'2$%1;$'3.=& 40*+& 23.
)*+,(2$<-.&7$23&-$4.9& 5(0?&7$23&<-**=&';,,-?&0.e;$0.+.%2'9 +*0.& S<0*;'& +(20$/& *4& 23.& =.0+$'9& ^?
E3.&';,.0S)$(-&+.'.%)3?+.&<.)*+.' _.4.)2'&$%&5(');-(0&=.5.-*,+.%2&3(5. 23.& '.)*%=& 20$+.'2.06& (=$,*)?2.& ,0.);08
=$'2$%)2& 40*+& 23.& ;%=.0-?$%1& 2$'';.& <? <..%& =.')0$<.=6& ('& $%& 23.& b-$,,.-8 '*0'& <.1$%& 2*& =$44.0.%2$(2.& (%=& ());+;8
23.&.+<0?*%$)d4.2(-&20(%'$2$*%&A(<*;2&LQ E0r%(;%(?&(%=&"2;01.8O.<.0&'?%=0*+.' -(2.& -$,$='9& ^?& 23.& 23$0=& 20$+.'2.06& 4(2
=(?'&UfPD9&^?&GX&2*&GZ&7..#'6&23.&0.2$)8 A'..& M3(,9& GF!D9& :%& 23.& b-$,,.-8 -*<;-.'& (%=& S<0*;'& '.,2(.& (0.& 4*;%=& 2*
;-(0&=.0+$'&<.1$%'&2*&2(#.&*%&$2'&)3(0()8 E0r%(;%(?&'?%=0*+.6&;%$-(2.0(-&);2(%.8 '.,(0(2.& 23.& +(2;0.& (=$,*)?2.'9& E3.
2.0$'2$)&S<0$--(0&(,,.(0(%).&$%&)*%20('2&2* *;'& 5(');-(0& +(-4*0+(2$*%'& =.5.-*,6 +*-.);-(0& ,(237(?'& 23(2& =.S%.& 23$'
23.& ,(,$--(0?& =.0+$'6& 73$)3& $'& +*0. 7$23& (''*)$(2.=& 5.%*;'& 5(0$)*'$2$.'6 ,0*).''& (0.& );00.%2-?& (%&(0.(&*4&$%2.%'.
S%.-?&7*5.%9&[(01.&)*--(1.%&S<.0'&)*%8 .=.+(6& (%=& 3?,.020*,3?& *4& (''*)$(2.= $%5.'2$1(2$*%9& P-23*;13& 4.7& 0.1;-(2*0'
2$%;.&2*&());+;-(2.&$%&23.&0.2$);-(0&=.08 '*42& 2$'';.& (%=& <*%.9& :%& "2;01.8O.<.0 $+,*02(%2&$%&.+<0?*%$)&(=$,*'.&',.)$S8
+$'6& ('& 7.--& ('& .-('2$%& S<.0'6& <.1$%%$%1 '?%=0*+.6& +(%?& );2(%.*;'& )(,$--(0? )(2$*%& (%=& =.5.-*,+.%2& 3(5.& <..%
(0*;%=& +$=81.'2(2$*%& (%=& )*%2$%;$%1 +(-4*0+(2$*%'& (0.& '..%& $%& 23.& -$,'6 $=.%2$S.=6& '.5.0(-& 4()2*0'& )0$2$)(-& 4*0
;%2$-&<$0239&^?&23.&.%=&*4&23.&'.)*%=&20$8 2*%1;.6& %('(-6& (%=& <;))(-& +;)*'(.9 ,0.(=$,*)?2.& =$44.0.%2$(2$*%& 3(5.& <..%
+.'2.06& 23.& =.0+$'& 3('& )3(%1.=& 40*+& ( "*+.&4(+$-$(-&=.4.)2'&$%&5(');-(0&4*0+(8 =.+*%'20(2.=6& $%)-;=$%1& -.,2$%6& (& 3*08
%*%8')(00$%1& 2$'';.& 2*& *%.& 23(2& $'& )(,(8 2$*%& 0.';-2& 40*+& +;2(2$*%'& $%& 23.& 1.%. +*%. $+,*02(%2&$%&4(2&0.1;-(2$*%6&(%=&23.
<-.&*4&4*0+$%1&')(0'9&P'&23.&=.0+$'&+(8 .%)*=$%1&E$.8X&0.).,2*0&2?0*'$%.&#$%('.9 ,.0*/$'*+.& ,0*-$4.0(2*0d()2$5(2.=& 0.).,8
2;0.'6& $2& (-'*& <.)*+.'& 23$)#.0& (%=& 7.-- M(,$--(0?&+(-4*0+(2$*%'&'..%&$%&3.0.=$8 2*0&4(+$-?&*4&20(%')0$,2$*%&4()2*0'9FF6GQa
"I
.CBJ:Lo#I<=CBJ:L'_@NPM<EN
E3.& =.0+(-d.,$=.0+(-& H;%)2$*%& $'& (%
$%2.04().& 73.0.& +(%?& $%=;)2$5.& $%2.0()8
2$*%'&*));0&23(2&0.';-2&$%&23.&',.)$S)(2$*%
*0&=$44.0.%2$(2$*%&*4&23.&)3(0()2.0$'2$)'&*4
23.&=.0+$'&(%=&.,$=.0+$'9&E3$'&N*%.&$%8
)-;=.'& ',.)$(-$N.=& <('.+.%2& +.+<0(%.6
<('(-& ).--& ./20().--;-(0& +(20$/6& 23.& <('(-8
+*'2& ,*02$*%& *4& 23.& <('(-& ).--'6& (%=& 23.
';,.0S)$(-8+*'2&S<0$--(0&'20;)2;0.'&*4&23.
,(,$--(0?&=.0+$'9&^*23&23.&.,$=.0+$'&(%=
=.0+$'&)*%20$<;2.&2*&23$'&0.1$*%9
P'& .(0-?& ('& a& 7..#'& UfP6& (& '$+,-.
<('.+.%2& +.+<0(%.& '.,(0(2.'& 23.& =.08
+$'& 40*+& 23.& .,$=.0+$'& (%=& )*%2($%'
+(%?&*4&23.&+(H*0&,0*2.$%&.-.+.%2'&)*+8
+*%&2*&(--&<('.+.%2&+.+<0(%.'6&$%)-;=8
$%1&-(+$%$%&G6&)*--(1.%&:C6&3.,(0$%&';-4(2.6
(%=&Rf'9&M*+,*%.%2'&',.)$S)&2*&23.&);8
2(%.*;'&<('.+.%2&+.+<0(%.&N*%.6&';)3
('& ,0*2.$%'& *4& 23.& 3.+$=.'+*'*+.& (%=
(%)3*0$%1& S-(+.%2'6& (0.& S0'2& =.2.)2.=& (2
23.& .+<0?*%$)d4.2(-& 20(%'$2$*%9& ^?& 23.
.%=& *4& 23.& S0'2& 20$+.'2.06& *0& (0*;%=& 23.
2$+.& *4& -(2.& .+<0?*%$)& =.5.-*,+.%26& (--
<('.+.%2& +.+<0(%.& ,0*2.$%'& (0.& $%
,-().9& E3.& L& (%=& Y& $%2.10$%& ';<;%$2'
(0.& ./,0.''.=& .(0-$.0& 23(%& +*'2& *4& 23.
*23.0& <('.+.%2& +.+<0(%.& )*+,*%.%2'9
k*7.5.06& 23.?& (0.& %*2& -*)(-$N.=& 2*& 23.
<('(-&';04().&;%2$-&c9Z&7..#'&UfP6&)*$%)$8
=.%2&7$23&23.&2$+.&23(2&23.&3.+$=.'+*8
'*+(-& ,0*2.$%'& (0.& ./,0.''.=& (%=& 3.+$8
=.'+*'*+.'& (0.& S0'2& *<'.05.=9& P2& 23.
'(+.&2$+.6&(%)3*0$%1&S-(+.%2'&A-(+$%$%8
!!XD& (%=& (%)3*0$%1& S<0$-'& A)*--(1.%& C::D
<.1$%& 2*& <.& (''.+<-.=9& E3.& ()2;(-& '?%8
23.'$'& *4& )*--(1.%& C::& )(%& <.& =.2.)2.=
'-$132-?&.(0-$.06&(2&a&7..#'&UfP9& =>?@<;,"ABI 3IICN=:WC:L' JEBI?EWCNCG<G>'2?BE@W?' :' GCB<CG' EO' BCP<IBEP:L' CI<M?CL<:L' UCI<=CBJ:LVo
\(%?& )*%1.%$2(-& <-$'2.0$%1& =$'*0=.0' JCGCNP?FJ:L' U=CBJ:LV' G<WN:LG-' <NPL@=<NW'&NM-' GEN<P' ?C=WC?EW' U4??V-' :N=' 1EWW<N' U1EWV-' :IICN=:WCG
3(5.&<..%&=.+*%'20(2.=&2*&<.&(&0.';-2&*4 G@P?':G'M?C'?:<B'OELL<PLC':N='CPPB<NC'WL:N='KCW<N':G'CI<=CBJ:L'<N;:W<N:M<ENG'UIL:PE=CGV-'S?<P?'G<WN:L'M?C
=.4.)2'&$%&,0*2.$%'&*4&23.&_Un&A4*0&=.2($-'6 EBW:N<\:M<EN'EO'GICP<:L<\C='=CBJ<G'U=CBJ:L'PEN=CNG:MCV>'2?<G'=CBJ:L'PEN=CNG:MC'G@KGCn@CNMLF'G<WN:LG
'..&M3(,'9&ZG&(%=&LQD9 E3.&'.5.0$2?&*4&23. M?C'=<OOCBCNM<:M<EN'EO'M?C'CI<=CBJ:L'=ESNWBESM?'<NME'M?C'WCBJ-'ICW-':N='J:M@BC':IICN=:WC:L'GMB@PM@BC>
=$'.('.6&,-(%.&*4&2$'';.&'.,(0(2$*%6&(%=&$%8 )@'h'K@LWCa'.CBJ'h'=CBJ<Ga'.@'h'=@PMa'#I<'h'CI<=CBJ<Ga'+L='h'WL:N=>
5*-5.+.%2& *4& %*%8);2(%.*;'& 2$'';.'& =.8
,.%=& *%& 23.& ,0*2.$%'& $%5*-5.=& (%=& 23. *4& 23.'.& '$1%(-'& *42.%& 3('& ,0*4*;%=& $%8 )(2.=& ('& (& )(%=$=(2.& 4*0& *%.& *4& 23.
',.)$S)& +;2(2$*%'9& E3.'.& 1.%.'& (0.& $+8 T;.%).'& *%& =.5.-*,+.%2& *4& '#$%& (,8 .44.)2*0'&*4&23$'&i=.0+(-&'$1%(-9j
,*02(%2&)(%=$=(2.'&4*0&,0.%(2(-&2.'2$%19 ,.%=(1.'9& E3$'& =$');''$*%& 4*);'.'& *% J0*+& 23.& ')(-,6& 4*--$);-(0& ,-()*=.& 4*08
3($0&=$44.0.%2$(2$*%&('&(&,(0(=$1+&4*0&(,8 +(2$*%& ',0.(='& 5.%20(--?& (%=& )(;=(--?6
,.%=(1.(-& =.5.-*,+.%26& <.)(;'.& $2& $' .5.%2;(--?& )*5.0$%1& 23.& '#$%9& E3.& ,-(8
.#"#*!/0#12'!(' 23.& (,,.%=(1.& 23(2& 3('& <..%& '2;=$.= )*=.'& 23.%& '$1%(-& <()#& 2*& 23.& ;%=.0-?$%1
47%1'3//#1.3+#4 +*'2&$%2.%'.-?9L6GQc6GGQ =.0+$'& 2*& 4*0+& (& i=.0+(-& )*%=.%'(2.6j
"#$%& (,,.%=(1.'6& 73$)3& $%)-;=.& 3($06 73$)3& *));0'& (2& GX& 2*& GY& 7..#'& UfP9
%($-'6& (%=& '7.(2& (%=& +(++(0?& 1-(%='6 E3$'&,0*).''&$'&23*;132&2*&<.&(&<(-(%).
(0.& )*+,*'.=& *4& 27*& =$'2$%)2& )*+,*8
8:<B A"..&M3(,9&aYD
*4&,-()*=.&,0*+*2.0'&(%=&,-()*=.&$%3$<8
%.%2'@&(%&.,$=.0+(-&,*02$*%6&73$)3&,0*8 _.0+(-& '$1%(-'& (0.& $%$2$(--?& 0.',*%'$<-. $2*0'9L6GQc6GGQ& O%2& 4(+$-?& '$1%(-$%1& +*-.8
=;).'& 23.& =$44.0.%2$(2.=& ,0*=;)26& (%= 4*0&$%'20;)2$%1&23.&<('(-&).--'&*4&23.&.,$8 );-.'& (0.& ,0*,*'.=& 2*& +.=$(2.& ,-()*=.
23.&=.0+(-&)*+,*%.%26&73$)3&0.1;-(2.' =.0+$'& 2*& <.1$%& 2*& )0*7=& (2& 0.1;-(0-? ,0*+*2$%1&.44.)2'&5$(&23.&+*-.);-.'&[UJ
=$44.0.%2$(2$*%& *4& 23.& (,,.%=(1.9& _;08 ',().=& $%2.05(-'6& '2(02$%1& <.27..%& =(?' (%= 8)(2.%$%6& ('& 7.--& ('& S<0*<-('2
$%1& .+<0?*%$)& =.5.-*,+.%26& =.0+(-d FZ& (%=& aQ& *%& 23.& ')(-,9& E3$'& $%$2$(- 10*723 4()2*06& 20(%'4*0+$%1& 10*723& 4()8
.,$=.0+(-& $%2.0()2$*%'& (0.& )0$2$)(-& 4*0 10*;,$%1& $'& #%*7%& ('& 23.& ,+))#20)(%* ")(& 2*08 6& \'/G& (%=& 8X6& .)2*=?',-('$%& P
23.& $%=;)2$*%& (%=& =$44.0.%2$(2$*%& *4 2+$!&*0&A.)(/!9&^('.=&*%&+*-.);-(0&-*)(-8 AU_PD6& (%=& U_P>& AU_P& 0.).,2*0D9& ^\R
23.'.& '20;)2;0.'& AJ$19& F8GQD9& _$'0;,2$*% $N(2$*%& *4& 8)(2.%$%6& $2& 3('& <..%& $+,-$8 4(+$-?& +*-.);-.'6& *%& 23.& *23.0& 3(%=6& ()2
"B
('& $%3$<$2*0'& *4& 4*--$)-.& 4*0+(2$*%9& :% 2$5.&).--'&*4&23.&1-(%=&1$5.&0$'.&2*&23.&=$48 1$%%$%1& ('& +.'.%)3?+(-& ,(='& <.27..%
+*=.-&'?'2.+'6&.)2*,$)&./,0.''$*%&*4&23$' 4.0.%2$(2.=& ).--'& 23(2& ());+;-(2.& -$,$= ZZ&(%=&LZ&=(?'&UfP9&^?&GX&2*&GY&7..#'
4(+$-?&*4&+*-.);-.'&2.%='&2*&';,,0.''&23. (%=&'.<;+9&P42.0&23.?&2.0+$%(--?&=$44.08 UfP6& ,(0(--.-& .)2*=.0+(-& 0$=1.'& (0.& $%8
4*0+(2$*%&*4&4*--$)-.'9&:%&+$).6&U_P>&(%= .%2$(2.6& 23.'.& ).--'& =$'$%2.10(2.& (%=& 0.8 =;).=6&73$)3&*5.0-?&23.'.&,(='9&E3.&.)8
8)(2.%$%& ./,0.''$*%& (0.& 0.e;$0.=& 4*0& ./8 -.('.&23.$0&,0*=;)2'&$%2*&23.&;,,.0&,*08 )0$%.& 1-(%='& (0$'.& 40*+& 23.& .)2*=.0+(-
,0.''$*%& *4& ^\RY& (%=& "*%$)& 3.=1.3*1 2$*%&*4&23.&3($0&)(%(-9&".<;+&,0*=;)2$*% 0$=1.9& ^?& GL& 7..#'& UfP6& 23.& '.)0.2*0?
A"33D6&$+,-$)(2$%1&23.'.&+*-.);-.'&$%&.(0-? $'&()).-.0(2.=&$%&23.&'.)*%=&(%=&23$0=&20$8 ,*02$*%& *4& 23.& 1-(%=& <.)*+.'& =.2.)28
4*--$);-(0& +*0,3*1.%.'$'9& J;023.0+*0.6 +.'2.0'6& =;0$%1& 73$)3& 2$+.& +(2.0%(- (<-.9& E3.& =.0+(-& =;)2& <.1$%'& (0*;%=
U_P>&+(?&<.&$+,*02(%2&4*0&-(2.0(-&$%3$<$8 '2.0*$='& )(;'.& '2$+;-(2$*%& *4& 23.& '.<(8 7..#& GL6& <;2& 23.& .,$=.0+(-& ,*02$*%& *4
2$*%&*4&).--'&';00*;%=$%1&23.&4*--$)-.'9 ).*;'&1-(%='9&k*0+*%(-&()2$5$2?&$'&*%). 23.& =;)2& (%=& *,.%$%1& (0.& %*2& )*+,-.2.
J*0+(2$*%& *4& 23.& =.0+(-& ,(,$--(& $' (1($%& 23*;132& 2*& $%T;.%).& 23.& ,0*=;)8 ;%2$-&X&7..#'&UfP9
23*;132&2*&<.&$%$2$(2.=&<?&23.&iS0'2&.,$8 2$*%& *4& $%)0.('.=& '.<;+& =;0$%1& (=*-.'8 :%2.04*--$);-(0& .))0$%.& (%=& (,*)0$%.
23.-$(-& '$1%(-j& 23(2& $'& 20(%'+$22.=& 40*+ ).%).6& 0.';-2$%1& $%& 23.& $%)0.('.=& $%)$8 1-(%='6&$%&)*%20('26&=*&%*2&<.1$%&2*&<;=
23.&4*--$)-.&.,$23.-$;+&2*&23.&;%=.0-?$%1 =.%).&$%&()%.&(2&23$'&(1.9 ;%2$-&23.&S423&+*%23&*4&1.'2(2$*%9&P,*8
+.'.%)3?+.9&\*-.);-.'&,0*,*'.=&2*&<. )0$%.&'7.(2&1-(%='&;';(--?&<;=&40*+&23.
$%5*-5.=& $%& 23$'& '$1%(-$%1& ,0*).''& $%8 ;,,.0& ,*02$*%& *4& 23.& 3($0& 4*--$)-.9& ^?& F
1:<L'.C;CLEIJCNM A"..&M3(,9&aFD
)-;=.& ,-(2.-.28=.0$5.=& 10*723& 4()2*0& +*%23'& UfP6& 23.& ).--'& *4& 23.& (,*)0$%.
,*-?,.,2$=.&(%=&"339&P42.0&23.&4*--$);-(0 R0.';+,2$5.&%($-&'20;)2;0.'&<.1$%&2*&(,8 1-(%='&<.)*+.&=$'2$%1;$'3(<-.9
=$44.0.%2$(2$*%& ,0*).''& <.1$%'6& 23.& =.08 ,.(0& *%& 23.& =*0'(-& =$1$2& 2$,& (2& a& 2*& GQ P-23*;13&%*2&+;)3&$'&#%*7%&7$23&0.8
+$'& '.%='& (%*23.0& '$1%(-& 2*& 23.& .,$23.8 7..#'&UfP6&'-$132-?&.(0-$.0&23(%&23.&$%$8 1(0=& 2*& 23.& +*-.);-(0& '$1%(-'& 0.',*%'$8
-$(-& ,-()*=.& ).--'& 2*& ,0*-$4.0(2.& (%=& $%8 2$(2$*%&*4&3($0&4*--$)-.&=.5.-*,+.%29&E3. <-.&4*0&23.&=$44.0.%2$(2$*%&*4&23.'.&'20;)8
5(=.& 23.& =.0+$'9& E3.& =.0+(-& ).--' S0'2& '$1%& $'& 23.& =.-$%.(2$*%& *4& 23.& T(2 2;0.'6& 23.& U_P6& U_P>6& U%G6& (%=
(''*)$(2.=&7$23&23.&4*--$)-.&23.%&=.5.-*, ';04().&*4&23.&4;2;0.&%($-&<.=9&P&,*02$*% O%2GQ<& 1.%.'& 3(5.& <..%& $+,-$)(2.=9
$%2*& 23.& =.0+(-& ,(,$--(9& E3.& .,$23.-$(- *4& .)2*=.0+& <;='& $%7(0=& (2& 23.& ,0*/$8 k?,*3$=0*2$)& .)2*=.0+(-& =?',-('$(& 0.8
).--'&1*&*%&2*&4*0+&23.&$%%.0&0**2&'3.(23 +(-&<*;%=(0?&*4&23.&.(0-?&%($-&S.-=6&(%= ';-2'& 40*+& +;2(2$*%'& $%& U_P& *0& 23.
(%=&3($0&'3(42&*4&23.&+(2;0.&3($0&4*--$)-.9& 1$5.'&0$'.&2*&23.&,0*/$+(-&%($-&4*-=9&E3. U_P>&A'..&M3(,9&GY!D9
:%&(==$2$*%&2*&23.&7$=.%.=&<;-1.&(2&23. ,0.';+,2$5.&%($-&+(20$/&).--'6&73$)3&=$48
<('.6& 27*& *23.0& <;-1.'& 4*0+& (-*%1& 23. 4.0.%2$(2.& 2*& <.)*+.& 23.& %($-& ,-(2.6& (0.
-.%123& *4& 23.&=.5.-*,$%1& 4*--$)-.6&2.0+.= ,0.'.%2&*%&23.&5.%20(-&'$=.&*4&23.&,0*/$8 7#,'$#(#$#16#4
23. 90)9+01*7(#%*"!/9&E3.&;,,.0+*'2&<;-1. +(-&$%5(1$%(2$*%9&P2&GG&7..#'6&23.&=*08 2?C'O@LL'BCOCBCNPC'L<GM'OEB':LL'P?:IMCBG'
$'& 23.& ,0.';+,2$5.& '.<().*;'& 1-(%=6 '(-&%($-&<.=&';04().&<.1$%'&2*&#.0(2$%$N.9
73.0.('& 23.& +$==-.& <;-1.& '.05.'& ('& 23. ^?& 23.& 4*;023& +*%23& *4& 1.'2(2$*%6& 23. <G':;:<L:KLC':M'SSS>=<WJ9>PEJ>
'$2.&4*0&$%'.02$*%&*4&23.&(00.)2*0&,$-$&+;'8 %($-& ,-(2.& 10*7'& *;2& 40*+& 23.& ,0*/$+(- L9 ^-(%,($%& M6& J;)3'& U@& U,$=.0+(-& '2.+
)-.9&E3$'&+$==-.&<;-1.&$'&(-'*&23.&-*)(2$*% %($-& 4*-=6& )*+,-.2.-?& )*5.0$%1& 23.& %($- ).--'&*4&23.&'#$%9&A..0*B!:*C!))*D!:*8#+)
*4&23.&+;-2$,*2.%2&3($0&'2.+&).--'6&73$)3 <.=& <?& 23.& S423& +*%239& \;2(2$*%'& $% !!@!!c6&XQQL
a9 R.--.10$%$&f&.2&(-@&E3.&)*%20*-&*4&.,$=.08
(0.&)(,(<-.&*4&=$44.0.%2$(2$%1&$%2*&(%?&*4 ,L!& (44.)2& %($-& =.5.-*,+.%2& $%& '?%8 +(-&'2.+&).--'&A3*-*)-*%.'D&$%&23.&20.(28
23.&).--'&*4&23.&3($0&4*--$)-.6&(%=&(-'*&3(5. =0*+.'& ';)3& ('& (%#?-*<-.,3(0*%6& .)2*8 +.%2& *4& +(''$5.& 4;--823$)#%.''& <;0%'
23.&,*2.%2$(-& 2*& 0.,-.%$'3&23.& .%2$0.& .,$8 =.0+(-& =?',-('$(6& (%=& )-.42& -$,g,(-(2. 7$23&(;2*-*1*;'&#.0(2$%*)?2.'&);-2;0.=
=.0+$'6&('&3('&'..%&$%&)('.'&*4&./2.%'$5. '?%=0*+.6&('&7.--&('&.)20*=()2?-?6&.)2*8 *%&S<0$%9&E%(.1")(.-(-#+. "#@aLa6&Gccc
=.0+(-& =?',-('$(6& (%=& )-.42& -$,g,(-(2. c9 M*2'(0.-$'& f6& ";%& EE6& [(5#.0& >\@
';04().&7*;%='&*0&<;0%'9
[(<.-80.2($%$%1&).--'&0.'$=.&$%&23.&<;-1.
^?&Gc&2*&XG&7..#'&UfP6&23.&3($0&)(%(- '?%=0*+.9& J;%)2$*%(-& ,L!& $'& 0.e;$0.= (0.(&*4&,$-*'.<().*;'&;%$2@&:+,-$)(2$*%'
3('&)*+,-.2.-?&4*0+.=&(%=&23.&3($0'&*% 4*0& 23.& 4*0+(2$*%& (%=& +($%2.%(%).& *4 4*0& 4*--$);-(0& '2.+& ).--'6& 3($0& )?)-.6& (%=
23.&')(-,&(0.&5$'$<-.&(<*5.&23.&';04().&*4 23.& (,$)(-& .)2*=.0+(-& 0$=1.6& (%& .+<0?8 '#$%&)(0)$%*1.%.'$'9&C!)) "$@G!Xc6&GccQ
23.& 4.2(-& .,$=.0+$'9& E3.?& )*%2$%;.& 2* *%$)& '$1%(-$%1& ).%2.0& .''.%2$(-& 4*0& -$+< GG9 >*)3(2& P6& b*<(?('3$& b6& ^(00(%=*%& q@
[*)(2$*%&*4&'2.+&).--'&*4&3;+(%&3($0&4*-8
-.%123.%&;%2$-&XY&2*&Xa&7..#'6&(2&73$)3 *;210*723& (%=& 3(%=& ,-(2.& 4*0+(2$*%9 -$)-.'& <?& )-*%(-& (%(-?'$'9& C!)) %"@GQL!6
2$+.& 23.?& '3$42& 40*+& 23.& ()2$5.& 10*723 O%2F(& $'& 23*;132& 2*& <.& $+,*02(%2& 4*0 GccY
A(%(1.%D&,3('.&2*&23.&=.1.%.0(2$5.&,3('. =*0'(-&-$+<&,(22.0%$%16&(%=&23;'&%($-&4*08 GY9 E;+<(0& E& .2& (-@& _.S%$%1& 23.& .,$23.-$(-
A)(2(1.%D6&23.%&2*&23.&0.'2$%1&,3('.&A2.-*8 +(2$*%9&:%&)*%20('2&2*&4*--$);-(0&=.5.-*,8 '2.+&).--&%$)3.&$%&'#$%9&F2#!.2! &'&@!Zc6
+.%26& "33& $'& %*2& 0.e;$0.=&4*0&%($-& ,-(2. XQQY
1.%D& A'..& M3(,9& aYD9& E3$'& )*+,-.2.'& 23.
GL9 \*00$'&>n&.2&(-@&M(,2;0$%1&(%=&,0*S-$%1
S0'2&3($0&)?)-.9&O$23&';<'.e;.%2&3($0&)?8 4*0+(2$*%9&P-'*&'$+$-(0&2*&4*--$);-(0&=$48 (=;-2&3($0&4*--$)-.&'2.+&).--'9&G(-*8#+-!27&
)-.'6& 3($0'& $%)0.('.& $%& =$(+.2.0& (%= 4.0.%2$(2$*%6&[\mG<&(%=&\"mG&(0.&$+8 .+) !!@YGG6&XQQY
)*(0'.%.''9& _;0$%1& (=*-.').%).6& 5.--;' ,*02(%2& 4*0& %($-& ',.)$S)(2$*%K& [\mG< XX9 f3(N$N(=.3& "6& E($)3+(%& [^@& \;-2$,-.
3($0'&*4&(%=0*1.%8'.%'$2$5.&(0.('&+(2;0. (%=& \"mG& (0.& +;2(2.=& $%& %($-8,(2.--( )-(''.'& *4& '2.+& ).--'& $%& );2(%.*;'& .,$8
23.-$;+@& P& -$%.(1.& (%(-?'$'& *4& (=;-2
2*&2.0+$%(-82?,.&3($0&4*--$)-.'9 '?%=0*+.& (%=& O$2#*,& '?%=0*+.6& 0.8 +*;'.&'#$%9&HI8J*K !'@GXGZ6&XQQG
',.)2$5.-?9GGGdGG! k*/)G!& (,,.(0'& 2*& <. Lc9 _.2+(0& \@& \*-.);-(0& 0.1;-(2$*%& *4
(%& $+,*02(%2& 3*+.*=*+($%8)*%2($%$%1 (%1$*1.%.'$'&$%&23.&'#$%9&K*<.:!1-*D!%'(&
4CK:PCE@G'+L:N=G A"..&M3(,9&FFD 1.%.& 4*0& <*23& 4*--$);-(0& (%=& %($-& (,,.%8 -+) $'"@XQF6&GccL
=(1.'6&(2&-.('2&$%&+;0$%.&+*=.-'9GGY aX9 k*-<0**#&bP@&"20;)2;0.&(%=&4;%)2$*%&*4
".<().*;'& 1-(%='& +(2;0.& =;0$%1& 23. 23.& =.5.-*,$%1& 3;+(%& '#$%6& $%& >7;1#+)&
)*;0'.& *4& 4*--$);-(0& =$44.0.%2$(2$*%9& E3$' +/;L*8#+27!'#1-%;L*(.$*I+)!20)(%*8#+)+/;*+,
,0*).''& <.1$%'& <.27..%& G!& (%=& GL #PPB<NC':N='3IEPB<NC'4SC:M'+L:N=' -7!*F4#.6&.=$2.=&<?&f*-='+$23&[P9&h.7
7..#'& UfP6& (2& 73$)3& ,*$%2& 23.& ,0.8 q*0#6&W/4*0=&R0.''6&GccG6&,&L!
';+,2$5.&'.<().*;'&1-(%=&$'&S0'2&5$'$<-.
.C;CLEIJCNM A"..&M3(,9&aGD a!9 [**+$'&MP@&_.5.-*,+.%2&(%=&+*0,3*8
1.%.'$'& *4& 23.& '#$%9& A$:* D!%'(-+)
('&23.&+*'2&';,.0S)$(-&<;-1.&*4&23.&+(8 U))0$%.& 1-(%='& <.1$%& 2*& =.5.-*,& *%& 23. $%@Ga!6&XQQG
2;0$%1& 3($0& 4*--$)-.9& E3.& *;2.0& ,0*-$4.0(8 5*-(0&';04().'&*4&23.&3(%='&(%=&4..26&<.8 aF9 q(%1&P&.2&(-@&,L!&$'&.''.%2$(-&4*0&0.1.%8
"C
.0(2$5.&,0*-$4.0(2$*%&$%&-$+<6&)0(%$*4()$(- cF9 h$'3$+;0(& Ub& .2& (-@& _*+$%(%2& 0*-.& *4 (%=& <$*-*1$)(-& 4;%)2$*%& *4& 23.& -?+8
(%=& .,$23.-$(-& =.5.-*,+.%29& G(-0%! 23.& %$)3.& $%& +.-(%*)?2.& '2.+8).--& 4(2. ,3(2$)&5(');-(2;0.9&M!.!1*D!: $"@FF!6
&(#@FGY6&Gccc =.2.0+$%(2$*%9 G(-0%! *$"@aZY6&XQQX XQQX
cY9 k(,,-.& >@& m8)30*+*'*+.& $%()2$5(2$*%@ GQF9 W-$5.0&f6&_.2+(0&\@&E3.&0.=$')*5.0? GQc9 \$--(0&"U@&\*-.);-(0&+.)3(%$'+'&0.1;8
>*-.& $%& '#$%& =$'.('.& ./,0.''$*%9& A2-( *4& 23.& -?+,3(2$)& '?'2.+@& W-=& (%= -(2$%1&3($0&4*--$)-.&=.5.-*,+.%29&K*<.:!1-
>(!$#(-%*F0"") ()@GL6&XQQL %.7& $%'$132'& $%2*& 23.& =.5.-*,+.%2 D!%'(-+) $$#@XGL6&XQQX
2.'2& 0*;%=& *4& 20(%'-(2$*%& 4($-'6& (%=& 23. +*0.& ,0$+$2$5.& .;#(0?*2.'6& >hP& +*-.8 .%2& 2$'';.'9& :%& 2.0+'& *4& 23.& 1.%.& '.8
).--& =.10(=.'& 23$'& +>hP& 5$(& 23.& %*%8 );-.'&)*%2($%&)(2(-?2$)&'.e;.%).'&#%*7% e;.%).'&$+,*02(%2&4*0&',-$)$%16&(&4.7&<,
'.%'.8+.=$(2.=& +>hP& ,(237(?9F& E3$' (' %#9+5;'!16& 73$)3& +.=$(2.& 23.& '.-48 (2&23.&<.1$%%$%1&(%=&(2&23.&.%=&*4&(%&$%8
$'&(&+.)3(%$'+&23(2&23.&).--&3('&.5*-5.= ',-$)$%1& *;2& *4& $%20*%'& 7$23*;2& (%?& 0.8 20*%6& #%*7%& ('& 23.& Z & ',-$).& '$2.& A*0
2*& 0.+*5.& (<.00(%2& 20(%')0$,2'6& (%=& $2 e;$0.+.%2& 4*0& (==$2$*%(-& 4()2*0'9& :% ',-$).& =*%*0& '$2.D& (%=& 23.& ! & ',-$).& '$2.
+(?& (-'*& )*%20$<;2.& 2*& 1.%.& 0.1;-(2$*%6 +(++(-'6& ',-$)$%1& $%5*-5.'& (& -(01. A*0& ',-$).& ()).,2*0& '$2.D& (0.& )0;)$(-9& P
,(02$);-(0-?& 73.%& 5.0?& -*7& -.5.-'& *4& ( %;+<.0&*4&,0*2.$%&(%=&>hP&4()2*0'&.%8 4.7&*23.0&<,&7$23$%&23.&$%20*%6&';)3&('
,(02$);-(0& ,0*2.$%& (0.& 0.e;$0.=& 7$23$%& ( )*=.=&<?&'.5.0(-&1.%.'9&E3$'&(--*7'&(%8 23.& <0(%)3& ,*$%2& '$2.& -*)(2.=& Ga& 2*& GQQ
1$5.%&).--9 *23.0&-.5.-&*4&)*%20*-&*5.0&1.%.&./,0.'8 <,&(7(?&40*+&23.&! &.%=6&(0.&(-'*&)0$2$8
",-$)$%1& *;2& *4& $%20*%'& $'& (& )*+,-./ '$*%& (%=& (-'*& 4()$-$2(2.'& (-2.0%(2$5. )(-9& \;2(2$*%'& (44.)2$%1& (%?& *4& 23.& $%8
,0*).''9&E3.&1.%.'&*4&,0*#(0?*2.'6&';)3 ',-$)$%1& *4& ./*%'6& '*& 23(2& (& '$%1-.& 1.%. 5(0$(%2&0.'$=;.'&*4&23.'.&',-$).&'$2.'&-.(=
('&<()2.0$(6& =*& %*2& )*%2($%& $%20*%'6& (%= )(%& .%)*=.& '.5.0(-& 4;%)2$*%(--?& =$'2$%)2 2*&(<.00(%2&',-$)$%1&(%=&.$23.0&)*+,-.2.
'*& +>hP& ',-$)$%1& $'& (& ,0*).''& 23(2& $' 5(0$(%2'&*4&(&,0*2.$%9&E3.'.&$'*4*0+'&(0. -*''&*4&,0*2.$%&./,0.''$*%&*0&1.%.0(2$*%
',.)$S)& 2*& 3$13.0& *01(%$'+'9& :%& '*+. *42.%& =$44.0.%2$(--?& ./,0.''.=& $%& =$44.08 *4&(&3$13-?&(<%*0+(-&,0*2.$%9
"!
E3.& +>hP& (-'*& )*%2($%'& 27*& ;%8 =$(2.-?& ;,'20.(+& *4& 23.& )(,& '$2.9& E3$' <*%;)-.('.& ,0*2.)2$*%6& .-.)20*,3*0.2$)
20(%'-(2.=& 0.1$*%'6& 23.& Z BE>& ;,'20.(+ ,0*/$+(-&,0*+*2.0&0.1$*%&)*%2($%'&)*%8 +*<$-$2?& '3$42& (''(?'6& *0& )30*+(2$%& $+8
*4& 23.& $%$2$(2$%1& PEf& )*=*%& (%=& 23. '.%';'& <$%=$%1& '$2.'& 4*0& (& 5(0$.2?& *4 +;%*,0.)$,$2(2$*%6&)(%&<.&;'.=&2*&=.2.08
! BE>& =*7%'20.(+& *4& 23.& 2.0+$%(2*0 20(%')0$,2$*%&4()2*0'6&'*+.&*4&73$)3&(0. +$%.&73$)3&20(%')0$,2$*%&4()2*0'&<$%=&2*
A*0&'2*,&)*=*%6&73$)3&)(%&<.&EfP6&EPP 1.%.0(-& $%& %(2;0.& (%=& 0.e;$0.=& 4*0& (-- (&,(02$);-(0&,0*+*2.0&(%=&3.-,&=.-$%.(2.
*0&EPfD9&E3.&Z BE>&)(%&(%=&*42.%&=*.' 1.%.& ./,0.''$*%6& *23.0'& (0.& ',.)$S)& 2* 23.& ',.)$S)& ,0*+*2.0& '.e;.%).'& <*;%=9
,*''.''& $%20*%'6& 73.0.('& 23.& ! BE>& *4 ,(02$);-(0& 2$'';.& *0& ).--& -$%.(1.6& (%= U/,0.''$*%& *4& 0.,*02.0& 1.%.'& ;%=.0& 23.
+*0.& 23(%& cc& ,.0).%2& *4& +(++(-$(% '*+.&(0.&(<'*-;2.-?&',.)$S)&4*0&(&1$5.% )*%20*-& *4& (& )-*%.=& ,0*+*2.0& $%& 20(%'8
1.%.'& =*.'& %*2& )*%2($%& $%20*%'9& E3. ).--&2?,.&(%=g*0&'2(1.&*4&=.5.-*,+.%2&*0 1.%$)& +$).& (-'*& 3.-,'& '3.=& -$132& *%& 23.
%*%'.%'.8+.=$(2.=& +>hP& =.)(?& ,(238 =$44.0.%2$(2$*%9& E3.& '$N.& *4& 23.& ,0*8 $+,*02(%2&'.e;.%).'&23(2&(0.&0.e;$0.=&2*
7(?& $=.%2$S.'& +;2(%2& 20(%')0$,2'& <? +*2.0& )(%& 5(0?& 7$=.-?& ())*0=$%1& 2* 0.)(,$2;-(2.& 23.& .%=*1.%*;'& ./,0.''$*%
+.(%'& *4& (''.''$%1& 73.0.& 23.& 2.0+$%(8 1.%.& 4(+$-?& *0& <.27..%& 23.& $%=$5$=;(- *4&23.&1.%.&;%=.0&'2;=?9&b.0(2$%&,0*+*28
2$*%&)*=*%&*));0'&$%&0.-(2$*%&2*&$%20*%'9 1.%.'&23.+'.-5.'9&J*0&./(+,-.6&23.&#.08 .0'&(0.&;%;';(-&$%&23(26&1.%.0(--?6&(&'+(--
E3.& %(2;0(-& '2*,& )*=*%& $'& (-7(?'& 4*-8 (2$%&1.%.'&(0.&2$132-?&',().=&7$23$%&27* 40(1+.%2& *4& *%-?& XQQQ& 2*& !QQQ& <,& ;,8
-*7.=& $++.=$(2.-?& <?& 23.& ! BE>6 1.%.&)-;'2.0'&*%&)30*+*'*+.'&GXe&(%= '20.(+& *4& 23.& 1.%.& )(%& )*%4.0& +*'2& *4
73$)3&$%&2;0%&=*.'&%*2&%*0+(--?&,*''.'' GFe6&<;2&23.'.&(0.&./e;$'$2.-?&2$'';.&',.8 23.&2$'';.&',.)$S)$2?9&J*0&23$'&0.('*%6&#.08
(%?&$%20*%'9&:4&(&'2*,&)*=*%&*));0'&$%&(% )$S)& $%& 27*& =$44.0.%2& 7(?'9& J$0'26& 23.'. (2$%& ,0*+*2.0'& (0.& 7$=.-?& ;'.=& $%& 23.
+>hP& ;,'20.(+&*4&(& '$2.& 73.0.& (%& $%8 1.%.'& (0.& *%-?& ./,0.''.=& $%& .,$23.-$(- =.0+(2*-*1?& S.-=& 2*& =0$5.& ./*1.%*;'
20*%& 3('& <..%& ./)$'.=6& 23$'& +.''(1.& $' ).--'6& (%=& 23.0.4*0.& 23.$0& ,0*+*2.0' 20(%'1.%.&./,0.''$*%&$%&23.&5(0$*;'&',.8
2(01.2.=& 4*0& %*%'.%'.8+.=$(2.=& =.)(?9 +;'2& ,*''.''& 0.1;-(2*0?& '.e;.%).'& 23(2 )$S)&).--;-(0&)*+,(02+.%2'&*4&23.&.,$=.08
E3.& *%-?& 1.%.'& 23(2& )*%2($%& $%20*%' =.2.0+$%.& .,$23.-$(-& ./,0.''$*%9& E3.'. +$'&(%=&$2'&(,,.%=(1.'&4*0&(&7$=.&5(0$8
7$23$%& 23.$0& ! BE>& '.e;.%).'& (0.& ./8 0.1;-(2*0?& .-.+.%2'& (0.& 23.0.4*0.& ',.8 .2?&*4&./,.0$+.%2'&($+.=&(2&=.2.0+$%$%1
,0.''.=&(2&./20.+.-?&-*7&-.5.-'9&E3$'&$' )$S)& 4*0& ).--'& *4& .)2*=.0+(-& *0$1$%9& ".)8 1.%.6&).--6&*0&2$'';.&4;%)2$*%9c
*%.& *4& 23.& 7(?'& $%& 73$)3& 23.& ).--& )(% *%=6& 23.'.& 1.%.'& (0.& ./,0.''.=& $%& 5.0? "*+.& ,0*+*2.0& *0& .%3(%).0& '.8
=.2.0+$%.& 3*7& +;)3& ,0*2.$%& $'& +(=. ',.)$S)&';<'.2'&*4&.,$23.-$(-&).--'6&(%=&'* e;.%).'&()2&*5.0&5.0?&-*%1&=$'2(%).'9&:%
40*+&(&,(02$);-(0&1.%.9 23.0.&+;'2&<.& (& '.)*%=&-.5.-& *4&)*%20*- '*+.& )('.'6& '.e;.%).'& -*)(2.=& +$--$*%'
f.%.& )*+,-./$2?& $'& 7$=.-?& 5(0$(<-. 23(2&',.)$S.'&73$)3&.,$23.-$(-&).--&-(?.0' *4&<,&=$'2(%26&7$23&'.5.0(-&*23.0&1.%.'&$%
(%=&%*2&%.).''(0$-?&0.-(2.=&2*&23.&'$N.&*4 ./,0.''& ',.)$S)& #.0(2$%& 1.%.'9& E3$'& $' 23.& $%2.05.%$%1& 0.1$*%6& '*+.3*7& $%T;8
23.&,0*2.$%&.%)*=.=9&"*+.&1.%.'&)*%'$'2 <.'2&$--;'20(2.=&$%&23.&3($0&4*--$)-.6&73.0. .%).&./,0.''$*%&*4&(&2(01.2&1.%.9&:%&'*+.
*4&*%-?&(&'$%1-.&'+(--&./*%6&';)3&('&23*'. 23.0.& (0.& +(%?& =$44.0.%2& .,$23.-$(-& ).-- 1.%.2$)& =$'.('.'6& +;2(2$*%'& (44.)2$%1
.%)*=$%1& 23.& )*%%./$%& 4(+$-?& *4& 1(, -(?.0'6& .()3& 7$23& (& ',.)$S)& ,(22.0%& *4 ';)3& -*%180(%1.& ,0*+*2.0& .-.+.%2'& (0.
H;%)2$*%& ,0*2.$%'9& ";)3& '$%1-.& ./*% #.0(2$%&1.%.&./,0.''$*%&A'..&M3(,9&aYD9a %*7& .+.01$%19& E3.'.& 2?,.'& *4& +;2(8
1.%.'&(0.&0(,$=&(%=&$%./,.%'$5.&2*&(%(8 E0(%')0$,2$*%&4()2*0'&(0.&,0*2.$%'&23(2 2$*%'& (,,.(0& 2*& <.& 0(0.& $%& 23.& 1.%.2$)'
-?N.& 0*;2$%.-?9& :%& )*%20('26& 23.& 2?,.& C:: .$23.0&<$%=&2*&_hP&=$0.)2-?&*0&$%=$0.)2-? S.-=&('&(&73*-.6&<;2&'$%).&23.?&*));0&'*
)*--(1.%&1.%.6&CJ6QAO6&$%&73$)3&+;2(8 <?&(''*)$(2$%1& 7$23& *23.0&_hP8<$%=$%1 5.0?&4(0& (7(?&40*+&23.& 2(01.2& 1.%.&(%=
2$*%'&-.(=&2*&23.&=?'20*,3$)&4*0+'&*4&U^ ,0*2.$%'9&^$%=$%1&*4&23.'.&4()2*0'&2*&23. (0.& 23.0.4*0.& 5.0?& =$4S);-2& 2*& S%=6& 23$'
A'..& M3(,9&LQD6&3('&GGa&./*%'6&+.(%$%1 ,0*+*2.0&0.1$*%&*4&(&1.%.&-.(='&2*&()2$8 )-(''& *4& +;2(2$*%& +(?6& $%& 4()26& <.& +*0.
23(2&GGa&=$44.0.%2&,(02'&*4&23.&1.%.&%..= 5(2$*%& *4& 23.& 20(%')0$,2$*%& +()3$%.0? )*++*%& 23(%& $'& $++.=$(2.-?& *<5$*;'9
2*&<.&$'*-(2.=&(%=&(%(-?N.=&4*0&+*-.);8 (%=& 20(%')0$,2$*%& *4& 23.& 1.%.& <?& >hP :%&1.%.0(-6&0.-(2$5.-?&4.7&=$'.('.8)(;'$%1
-(0& =$(1%*'$'& *4& .()3& =?'20*,3$)& U^& ,(8 ,*-?+.0('.& ::9& E3.& 20(%')0$,2$*%& 4()2*0 +;2(2$*%'& 3(5.& <..%& '3*7%& 2*& $%5*-5.
2$.%29& E3.& S-(110$%& 1.%.& AR6MD& *%& )30*8 ,0*2.$%'&(0.&.%)*=.=&<?&1.%.'&23(2&(0.&$% ,0*+*2.0'6& <;2& 23$'& )-(''& *4& =.4.)2& $'
+*'*+.& G6& 0.).%2-?& '3*7%& 2*& <.& 23. 2;0%& )*%20*--.=& <?& ,0*+*2.0'& 23(2& (0. ,0*<(<-?& 10.(2-?& ;%=.080.,0.'.%2.=& <.8
)(;'(2$5.& 1.%.& 4*0& $)323?*'$'& 5;-1(0$' 0.1;-(2.=& <?& *23.0& 20(%')0$,2$*%& 4()2*0' )(;'.&23.&,0*+*2.0'&*4&+*'2&1.%.'&3(5.
A'..&M3(,9&YFD&(%=&(&';').,2$<$-$2?&1.%. .%)*=.=&<?&*23.0&1.%.'9&E3;'6&23.0.&(0. <..%&,**0-?&)3(0()2.0$N.=&(2&23.&,0.'.%2
4*0&(2*,$)&=.0+(2$2$'&A'..&M3(,9&GYD6&3(' '.5.0(-&2$.0'&*4&)*%20*-&*5.0&1.%.&./,0.'8 2$+.& $%& 2.0+'& *4& 73(2& '.e;.%).'& (0.
*%-?& 230..& ./*%'9& k*7.5.06& 23.& 23$0= '$*%&$%&(&1$5.%&).--&2?,.6&(%=&23.&$%20$)(8 20;-?& $+,*02(%2& 4*0& ,0*+*2.0& ()2$5$2?9
./*%& *4& R6M& $'& +*0.& 23(%& GX6QQQ& <,& $% )$.'& *4& 23$'& )(%& <.& =$4S);-2& 2*& 4;--?& ;%8 R0.=$)2$*%&*4&20(%')0$,2$*%&4()2*0&<$%=$%1
'$N.K&$'&+(=.&;,&*4&0.,.(2'&*4&(&GQQQ8<, 0(5.-& ./,.0$+.%2(--?9& h.5.023.-.''6& <? '$2.'& <?& )*+,;2.0& (%(-?'$'& 0.+($%'& (%
'.e;.%).K&(%=&5(0$.'&$%&'$N.&40*+&GX6QQQ $'*-(2$*%& *4& ,0*+*2.0& '.e;.%).'& 40*+ $%./()2&')$.%).&(%=&$'&(%&(0.(&4*0&4;023.0
2*&GY6QQQ&<,&<.27..%&=$44.0.%2&$%=$5$=;8 1.%.'& *4& $%2.0.'2& (%=& ,-()$%1& 23.'.& $% '2;=?& $%& 23.& 4;2;0.& ('& 23.& 3;+(%& 1.8
(-'&$%&23.&,*,;-(2$*%9&E3$'&;%;';(-&1.%. 40*%2& *4& 0.,*02.0& 1.%.'& 23(2& )(%& <.& ('8 %*+.& '.e;.%).& ;%=.01*.'& 10.(2.0& =.8
'20;)2;0.& +(#.'& 0*;2$%.& '.e;.%)$%1& *4 '(?.=& <$*)3.+$)(--?6& ';)3& ('& S0.T?& -;8 2($-.=&')0;2$%?&(%=&(%%*2(2$*%9
1.%.'&';)3&('&CJ6QAO&*0& R6M&=$4S);-26 )$4.0('.& 23(2& )(%& <.& (''(?.=& <?& -$132
2$+.&)*%';+$%16&(%=&./,.%'$5.9 .+$''$*%6& 23.& ()2$5$2?& *4& ,0*+*2.0'& )(%
<.&0.,0*=;).=&$%&);-2;0.=&).--'&23(2&%*08 (%1.%1+'.%4#34#'+#1#4
+(--?&./,0.''&23.&1.%.9&M*+<$%$%1&';)3 :%&.'2(<-$'3$%1&23.&+*-.);-(0&<('$'&*4&(%
+#1#'#^/$#44%!1 (&0.,*02.0&1.%.&'?'2.+&7$23&'$2.8=$0.)2.= $%3.0$2.=&'#$%&=$'.('.6&23.0.&(0.&27*&#.?
U()3& ',.)$S)& 1.%.& $'& 1.%.0(--?& *%-?& ()8 +;2(1.%.'$'& 2*& +(#.& =.-.2$*%'& *0& (-2.0 '2.,'9&J$0'26&23.&1.%.&-$%#.=&2*&(&,(02$);8
2$5.-?&20(%')0$<.=&$%&(&';<'.2&*4&).--'&*0 '+(--& %;+<.0'& *4& <,& 7$23$%& 23.& ,0*8 -(0& =$'*0=.0& +;'2& <.& $=.%2$S.=6& (%=& '.)8
2$'';.'& 7$23$%& 23.& <*=?9& f.%.& ./,0.'8 +*2.0& )(%& 3.-,& =.S%.& 23.& ./2.%2& *4& 23. *%=6& ,(23*1.%$)& +;2(2$*%'& 7$23$%& 23(2
'$*%& $'& -(01.-?& =.2.0+$%.=& <?& 23.& ,0*8 ,0*+*2.0& (%=& 23.& $+,*02(%2& '.e;.%).' 1.%.&'3*;-=&<.&=.2.0+$%.=9&_$'.('.'&)(%
+*2.0&.-.+.%2'& *4&23.&1.%.9&:%&1.%.0(-6 7$23$%& $2& 23(2& (0.& 0.e;$0.=& 4*0& 1.%.& ./8 <.& +(2)3.=& 2*& 1.%.'& .$23.0& <?& 1.%.2$)
23.& +*'2& $+,*02(%2& 0.1$*%& *4& 23.& ,0*8 ,0.''$*%9&P&5(0$.2?&*4&<$*)3.+$)(-&2.)38 -$%#(1.& (%(-?'$'& *0& <?& (& )(%=$=(2.& 1.%.
+*2.0&$'&23.&'20.2)3&*4&'.e;.%).&$++.8 %$e;.'6& ';)3& ('& _hP& 4**2,0$%2$%16& 0$8 (,,0*()39GQ& f.%.2$)& -$%#(1.& $%5*-5.'
"H
'2;=?$%1&,.=$10..'&*4&(44.)2.=&(%=&;%(48 _hP6& (%=& 23.'.& $%)-;=.& =.%(2;0$%1& 10(8 W42.%2$+.'6& 23.'.& "hR'& =*& %*2& )3(%1.
4.)2.=& $%=$5$=;(-'& (%=& $'*-(2$%1& 73$)3 =$.%2&1.-&.-.)20*,3*0.'$'6&)3.+$)(-&)-.(58 23.& (+$%*& ()$=& )*+,*'$2$*%K& 4*0& ./(+8
<$2'&*4&23.&1.%*+.&(0.&',.)$S)(--?&(''*)$8 (1.& *4& +$'+(2)36& '$%1-.& '20(%=.=& )*%8 ,-.6&(&M82*8E&20(%'$2$*%&$%&23.&23$0=&,*'$8
(2.=& 7$23& 23.& =$'.('.& ,3.%*2?,.9& E3. 4*0+(2$*%& ,*-?+*0,3$'+6& 3.2.0*=;,-./ 2$*%& *4& (& ,0*-$%.& )*=*%& AMMM& 2*& MMED
1*(-&$'&2*&$=.%2$4?&(&0.1$*%&*4&23.&1.%*+. (%(-?'$'6& )*%4*0+(2$*%& '.%'$2$5.& 1.- '2$--& .%)*=.'& 4*0& ,0*-$%.6& (%=& $'& 0.4.00.=
23(2&(--&23.&(44.)2.=&$%=$5$=;(-'&(%=&%*%. .-.)20*,3*0.'$'6& =.%(2;0$%1& 3$138,.04*08 2*&('&(&1#)!.-*'0-(-#+.9&"*+.&"hR'6&3*78
*4& 23.& ;%(44.)2.=& $%=$5$=;(-'& 3(5.& $% +(%).& -$e;$=& )30*+(2*10(,3?& (%=& 23. .5.06&=*&)3(%1.&23.&%(2;0.&*4&23.&(+$%*
)*++*%K& 23$'& 0.1$*%& $'& -$#.-?& 2*& 3(0<*0 ,0*2.$%&20;%)(2$*%&2.'29GX&E3.&+*'2&)0$2$8 ()$=K&4*0&./(+,-.6&(&M82*8f&20(%'5.0'$*%
23.&1.%.&4*0&23.&=$'*0=.06&('&7.--&('&,.08 )(-&4()2*0&23(2&=.2.0+$%.'&23.&';)).''&*4 (2& 23.& '.)*%=& ,*'$2$*%& *4& 23.& '(+.& ,0*8
3(,'& *23.0& %*%8,(23*1.%$)& %.$13<*0$%1 (%?&1.%.&')0..%$%1&,0*2*)*-&$'&23.&'.%'$8 -$%.& )*=*%& AMMM& 2*& MfMD& )3(%1.'& 23.
1.%.'& 23(2& 3(5.& <..%& $%3.0$2.=& <?& -$%#8 2$5$2?&*4&23.&=.2.)2$*%&2.)3%$e;.9&:%&(==$8 0.'$=;.&2*&(01$%$%.9&:2&23.%&<.)*+.'&%.)8
(1.& =$'.e;$-$<0$;+9& E0(=$2$*%(--?6& 1.8 2$*%6& 73.%& )3**'$%1& (& +;2(2$*%& ')0..%8 .''(0?&2*&=.2.0+$%.&73.23.0&(&+$''.%'.
%*+.87$=.& -$%#(1.& '20(2.1$.'& +(#.& ;'. $%1& '20(2.1?& ;'$%1& 1.%*+$)& _hP6& 23. )3(%1.& ';)3& ('& 23$'& 0.,0.'.%2'& (& %*%8
*4& 5(0$(<-?8'$N.=& +$)0*'(2.--$2.& +(0#.0' '$N.&*4&23.&1.%.&(%=&$2'&%;+<.0&*4&./*%' ,(23*1.%$)& ,*-?+*0,3$'+& *0& (& ,(23*8
')(22.0.=& 230*;13*;2& 23.& 1.%*+.6& (-8 +;'2&<.&2(#.%&$%2*&())*;%29&E3.&'.%'$8 1.%$)&+;2(2$*%9&J()2*0'&4(5*0$%1&23.&-(28
23*;13& 4*0& 0.).''$5.& =$'.('.'& $%5*-5$%1 2$5$2$.'& *4& 23.'.& +.23*='& 5(0?& 10.(2-?6 2.0&$%)-;=.&23.&'.e;.%).&'.10.1(2$%1&*%-?
)*%'(%1;$%.*;'&,.=$10..'6&(&+*0.&0(,$= =.,.%=$%1& *%& 23.& '$N.& *4& 2.+,-(2. 7$23&23.&=$'.('.&,3.%*2?,.&$%&(&,(02$);8
(,,0*()3&+(?&<.& 2*& )(00?& *;2& 3*+*N?8 ')0..%.=9& J*0& ./(+,-.6& '$%1-.8'20(%=.= -(0&4(+$-?6&23.&(+$%*&()$=&)3(%1.&*));08
1*'$2?& +(,,$%1& ;'$%1& '$%1-.& %;)-.*2$=. )*%4*0+(2$*%&,*-?+*0,3$'+&3('&(&'.%'$8 0$%1& 7$23$%& (%& .5*-;2$*%(0$-?& )*%'.05.=
,*-?+*0,3$'+& A"hRD& )3$,& (00(?'9& ^? 2$5$2?& *4& s& cZ& ,.0).%2& 4*0& 40(1+.%2'& *4 0.'$=;.6& 23.& ';<'2$2;2$*%& (44.)2$%1& 23.
)*%20('26&23.&)(%=$=(2.&1.%.&(,,0*()3&$%8 GZZ&<,6&<;2&23$'&$'&0.=;).=&2*&*%-?&!&,.08 4;%)2$*%& *4& 23.& .%)*=.=& ,0*2.$%& A'$N.6
5*-5.'&S0'2&-**#$%1&4*0&(&)-;.&2*&23.&-$#.-? ).%2& 4*0& LQQ& <,9& W%).& *,2$+$N.=6& =.%(8 )3(01.6& )*%4*0+(2$*%6& .2)9D6& (%=& 23.& %;8
1.%.&<?&S%=$%1&(&',.)$S)&=$'.('.&(<%*08 2;0$%1& 10(=$.%2& 1.-& .-.)20*,3*0.'$'& 3('& ( )-.*2$=.&'7$2)3&%*2&<.$%1&=.2.)2(<-.&$%&(2
+(-$2?6&,.03(,'&$%&23.&./,0.''$*%&A*0&-()# '.%'$2$5$2?& *4& (<*;2& cc& ,.0).%2& 4*0& 40(18 -.('2& GQQ& .23%$)(--?& +(2)3.=& )*%20*-
23.0.*4D& *4& (& ,(02$);-(0& ,0*2.$%& *0& >hP6 +.%2'&*4&;,&2*&ZQQ&<,6&(%=&)*%4*0+(2$*% )30*+*'*+.'9& h*%8,(23*1.%$)& ,*-?8
*0&40*+&(%&;-20('20;)2;0(-&*0&<$*)3.+$)(- '.%'$2$5.& 1.-& .-.)20*,3*0.'$'& $'& ./,.)2.= +*0,3$'+'&=*&%*2&(-7(?'&$%5*-5.&'$%1-.
=$44.0.%).&<.27..%&23.&=$'.('.&(%=&)*%8 2*&3(5.&(&'.%'$2$5$2?&*4&aQ&,.0).%2&2*&cQ %;)-.*2$=.& ';<'2$2;2$*%'K& *))('$*%(--?6
20*-&2$'';.9&h.5.023.-.''6&23.&1.%.2$)&-$%#8 ,.0).%2& 4*0& 40(1+.%2'& *4& ;,& 2*& LQQ& <,9 =.-.2$*%'& (%=& $%'.02$*%'& +(?& (-'*& <.
(1.& (%=& )(%=$=(2.& 1.%.& (,,0*()3.'& (0. M3.+$)(-& )-.(5(1.& *4& +$'+(2)36& *%& 23. %*%8,(23*1.%$)9
%*2& +;2;(--?& ./)-;'$5.& (%=& (0.& *42.% *23.0& 3(%=6& 3('& (& '.%'$2$5$2?& *4& cZ& ,.08 P& +;2(2$*%& )(%& <.& =.S%.=& ('& (
;'.=& $%& )*+<$%(2$*%9& J*0& ./(+,-.6& 2* ).%2& 2*& GQQ& ,.0).%2& 4*0& 40(1+.%2'& s& G9Z )3(%1.&$%&23.&)3.+$)(-&)*+,*'$2$*%&*4&(
$=.%2$4?&23.&1.%.&0.',*%'$<-.&4*0&23.&(;8 #$-*<('.'& A#<D& $%& '$N.& (%=& $'& $=.(-& 4*0 1.%.9&P&+$''.%'.&+;2(2$*%&)3(%1.'&*%.
2*'*+(-&0.).''$5.&=$'*0=.06&-$,*$=&,0*2.$8 ')0..%$%1& )*+,()2& 1.%.'& 73.0.& +*0. (+$%*& ()$=& 2*& (%*23.09& \;2(2$*%'& +(?
%*'$'&A'..&M3(,9&G!FD6&1.%.2$)&-$%#(1.&;'8 23(%&*%.&./*%&)(%&<.&(+,-$S.=&2*1.23.0 (-'*&<.&$%'.02$*%'&*0&=.-.2$*%'&*4&<('.'6
$%1& +$)0*'(2.--$2.'& 7('& S0'2& ;'.=& 2* ;'$%1& 1.%*+$)& _hP& ('& 23.& 2.+,-(2.9 23.&)*%'.e;.%).'&*4&73$)3&7$--&=.,.%=
.'2(<-$'3&(&0.1$*%&*4&-$%#(1.&*%&GeXG&23(2 P-- 23.'.& 2.)3%$e;.'& =.2.)2& '.e;.%). *%& 73.23.0& 23$'& =$'0;,2'& 23.& %*0+(-
)*%2($%.=&La&1.%.'9GG&E3.&,;2(2$5.&1.%. )3(%1.'&';)3&('&20;%)(2$%1&(%=&+$''.%'. 0.(=$%1& 40(+.& *4& (& 1.%.& *0& %*26& ('& 7.--
4*0& 23$'& =$'*0=.06& HCIO& .%)*=$%1& ./20(8 +;2(2$*%'& ('& 7.--& ('& ,*-?+*0,3$'+'K ('& %*%'.%'.& +;2(2$*%'6& 73$)3& -.(=& 2*
).--;-(0&+(20$/&,0*2.$%&G6&7('&23.%&$=.%8 3*7.5.06& 23.& ,0*2.$%& 20;%)(2$*%& 2.'2 ,0.+(2;0.& 2.0+$%(2$*%& *4& 20(%'-(2$*%
2$S.=&<?&(&)(%=$=(2.&1.%.&(,,0*()3&23(2 ')0..%'& *%-?& 4*0& 20;%)(2$%1& +;2(2$*%' A'.. J$19& a8XD9& J*0& ./(+,-.6& (& '$%1-.& %;8
'.(0)3.=& 4*0& 0.=;).=& 1.%.& ./,0.''$*% (%=&$'&,0.=$)2.=&2*&3(5.&(&'.%'$2$5$2?&*4 )-.*2$=.&=.-.2$*%&7$23$%&(%&./*%&)(;'.'
A-()#&*4&S<0*<-('2&)*+,-.+.%2(0?&_hPD s&cZ&,.0).%2&(%=&)(%&<.&;'.=&4*0&>hP&*0 (&'3$42&$%&23.&0.(=$%1&40(+.6&73$)3&;';8
$%&(--&23.'.&1.%.'9&P&0.=;)2$*%&$%&HCIO _hP& 40(1+.%2'& $%& ./).''& *4& !& #<9 (--?&-.(='&2*&(&=*7%'20.(+&'2*,&)*=*%6
1.%.& ./,0.''$*%& $%& -$,*$=& ,0*2.$%*'$' O3$)3.5.0& (,,0*()3& $'& 2(#.%6& 3(5$%1 23;'& 1$5$%1& (& 20;%)(2.=& ,0*2.$%6& *0& *48
)*+,(0.=&7$23&)*%20*-&,0*5$=.=&23.&)-;. $=.%2$S.=& (& =$44.0.%).& $%& 23.& ,(2$.%2V' 2.%& (%& ;%'2(<-.& +>hP& 23(2& $'& 0.(=$-?
2*& 23.& )(%=$=(2.& 1.%.& <.)(;'.& 23.0. _hP&)*+,(0.=&7$23&23.&)*%20*-&'(+,-.6 =.10(=.=&<?&23.&).--9&k*7.5.06&(&=.-.8
7.0.& %*& =$44.0.%).'& $%& (%?& *4& 23.& *23.0 23.& %./2& '2(1.& $'& 2*& =.2.0+$%.& 3*7& 23$' 2$*%& *4& 230..& %;)-.*2$=.'& A*0& +;-2$,-.'
,(22.0%'&*4&1.%.&./,0.''$*%9 '.10.1(2.'&7$23$%&(&,(02$);-(0&4(+$-?&(%= 23.0.*4 D& 7$--& %*2& '$1%$S)(%2-?& ,.02;0<
k(5$%1& $=.%2$S.=& (& ,;2(2$5.& 1.%.& 4*0 (-'*&73.23.0&$2&$'&,(23*1.%$)&*0&%*29 23.& *5.0(--& 0.(=$%1& 40(+.6& (%=& 23.& )*%8
(%&$%3.0$2.=&=$'*0=.06&23.&%./2&'2(1.&$'&2* '.e;.%).'&7$--&=.,.%=&*%&23.&%(2;0.&*4
S%=&23.&,(23*1.%$)&+;2(2$*%A'D9&E3$'&)(% 73(2&3('&<..%&=.-.2.=9&h*%'.%'.&+;2(8
<.&=*%.&<?&'.e;.%)$%1&23.&.%2$0.&1.%.6&( +#1#'05232%!14' 2$*%'& 2?,$)(--?6& <;2& %*2& ./)-;'$5.-?6& *)8
4.(2&73$)3&$'&<.)*+$%1&.('$.0&('&2.)3%*8 31.'/!*,0!$/8%404 );0&(2&M,f&=$%;)-.*2$=.'6&73.0.&+.23?8
-*1$)& (=5(%).'& +(#.& (;2*+(2.=& %;)-.*8 O$23$%& 23.& 3;+(%& 1.%*+.6& 23.& 1.%.2$) -(2$*%& *4& (& )?2*'$%.& %;)-.*2$=.& *42.%
2$=.&'.e;.%)$%1&4('2.06&)3.(,.06&(%=&+*0. )*=.& *4& 27*& 3.(-23?& $%=$5$=;(-'& +(? *));0'9& :%3.0.%2& )3.+$)(-& $%'2(<$-$2?& *4
()).''$<-.9& k*7.5.06& 23.& -(01.& '$N.& *4 '3*7&(&%;+<.0&*4&'.e;.%).&=$''$+$-(0$8 23$'& +*=$S.=& )?2*'$%.& -.(='& 2*& (& 3$13
'*+.& 1.%.'& +(?& +(#.& )*+,0.3.%'$5. 2$.'&23(2&3(5.&%*&0.-.5(%).&2*&=$'.('.&*0 0(2.&*4&+;2(2$*%&2*&23?+$%.9&O3.0.&23$'
'.e;.%)$%1& $+,0()2$)(-6& (%=& 23.0.4*0. ,3.%*2?,$)& 20($2'9& ";)3& )3(%1.'& 7$23$% (-2.0'& 23.& )*=*%& A.9196& 40*+& MfP& 2*
$%$2$(-& ')0..%$%1& (,,0*()3.'& 2*& $=.%2$4? 23.&%*0+(-&,*,;-(2$*%&(0.&0.4.00.=&2*&(' EfPD6&$2&7$--&)3(%1.&(%&(01$%$%.&0.'$=;.
23.& 0.1$*%& *4& (& 1.%.& 23(2& )*%2($%'& 23. "+);'+%"7#1'1& AJ$19& a8XD9& :%=..=6& .5.% 2*& (& '2*,& )*=*%9& h*%'.%'.& +;2(2$*%'
+;2(2$*%& +(?& <.& (& %.).''(0?& S0'2& '2.,9 7$23$%&23.&)*=$%1&0.1$*%&*4&23.&1.%*+.6 ;';(--?& -.(=& 2*& (& 0.=;).=& *0& (<'.%2& ./8
E3.0.&(0.&+(%?&+;2(2$*%&=.2.)2$*%&2.)38 )-$%$)(--?& $00.-.5(%2& ';<'2$2;2$*%'& *4& *%. ,0.''$*%& *4& 23.& +;2(%2& (--.-.& (2& 23.
%$e;.'& (5($-(<-.& 2*& ')(%& 4*0& '.e;.%). <,6&#%*7%&('&FG>16&(0.&)*++*%&(%=&*)8 +>hP&(%=&,0*2.$%&-.5.-'9&:%&23.&3.2.0*8
)3(%1.'& $%& ).--;-(0& >hP& *0& 1.%*+$) );0& (,,0*/$+(2.-?& *%).& .5.0?& XZQ& <,9G! N?1*;'& '2(2.6& 23$'& +(?& 3(5.& %*& )-$%$)(-
""
,$%1& *4& 23.& (=H().%2& ./*%6& (%=& *23.0
2$+.'& 23.?& 0.';-2& $%& 23.& 1.%.0(2$*%& *4
%.7& +>hP& 20(%')0$,2'& 230*;13& ;2$-$N(8
2$*%& *4& )0?,2$)& ',-$).& '$2.'& 7$23$%& 23.
%.$13<*0$%1&./*%&*0&$%20*%9
\;2(2$*%'&7$23$%&*%.&1.%.&=*&%*2&(-8
7(?'&-.(=&2*&(&'$%1-.&$%3.0$2.=&=$'*0=.09
J*0& ./(+,-.6& +;2(2$*%'& $%& 23.& HBCCS
1.%.& +(?&-.(=& 2*& /.0*=.0+(& ,$1+.%2*8
';+& A2?,.& _D6& 20$)3*23$*=?'20*,3?6& *0
).0.<0*4()$*'#.-.2(-& '?%=0*+.6& =.,.%=8
$%1& *%& 23.& ,*'$2$*%& (%=& 2?,.& *4& +;2(8
2$*%9&W23.0&20(%'8()2$%1&4()2*0'&+(?&4;08
23.0& +*=;-(2.& ,3.%*2?,$)& ./,0.''$*%9
E3$'&'$2;(2$*%&$'&#%*7%&('&())!)#2*7!-!%+/!&
.!#-;9& M*%5.0'.-?6& '*+.& $%3.0$2.=& =$'8
.('.'& )(%& <.& )(;'.=& <?& +;2(2$*%'& $%
+*0.& 23(%& *%.& 1.%.& A.9196& %*%8k.0-$2N
H;%)2$*%(-&U^K&'..&M3(,9&LQD&(%=&)(%&0.8
';-2& 40*+& +;2(2$*%'& $%& .$23.0& 23.
CJ6OQAO6 6AIAT6 6AI8T6& *0& 6AICS
1.%.'9&E3$'&$'&#%*7%& ('&/!.!-#2*7!-!%+/!&
.!#-;9& :%& (==$2$*%6& 23.& '(+.& +;2(2$*%& $%
*%.&,(02$);-(0&1.%.&+(?&-.(=&2*&(&0(%1.
*4& )-$%$)(-&'.5.0$2?& $%&=$44.0.%2& $%=$5$=;8
(-'9& E3$'& 5(0$(<$-$2?& $%& ,3.%*2?,.& ,0*8
=;).=&<?&(&1$5.%&1.%*2?,.&$'&0.4.00.=&2*
('& 23.& !U"%!11#:#-;9& :4& (%& $%=$5$=;(-& 7$23
';)3& (& 1.%*2?,.& 3('& %*& ,3.%*2?,$)
+(%$4.'2(2$*%'6&23.&=$'*0=.0&$'&'($=&2*&<.
.+.&"!.!-%(.-9& C(0$(<$-$2?& $%& ./,0.''$*%
0.T.)2'& 23.& )*+,-./& $%2.0,-(?& <.27..%
23.& +;2(2$*%6& +*=$4?$%1& 1.%.'6& .,$1.8
%.2$)& 4()2*0'6& (%=& 23.& .%5$0*%+.%2& (%=
=.+*%'20(2.'& 23(2& $%2.0,0.2$%1& 73(2& (
',.)$S)& 1.%.& +;2(2$*%& =*.'& 2*& (%& $%=$8
5$=;(-&$%5*-5.'&+*0.&23(%&H;'2&=.2.)2$%1
*%.&<$2&*4&+;2(2.=&_hP&$%&(&'$%1-.&1.%.9
0#1.#*%31'.%4!$.#$4
=>?@<;,6AC #R:JILCG'EO'N@PLCEM<=C'GCn@CNPC'P?:NWCG'BCG@LM<NW'<N':'IELFJEBI?<GJ':N=':'NENGCNGC
E3.0.& (0.& (,,0*/$+(2.-?& ZQQQ& 3;+(%
J@M:M<EN>'8F'2SE':=D:PCNM'PE=ENG':BC'?<W?L<W?MC=>'!@ML<NC='<N'I@BILC-'M?C'3++'PE=EN'CNPE=CG':BW<N<NC':N=
'$%1-.81.%.& =$'*0=.0'& (%=6& (-23*;13& 23.
M?C'KL@C'KERC='PE=EN-'63+'CNPE=CG'WL@M:J<NC>'7F'2?C'GCn@CNPC'G?ESG'MSE'?EJE\FWE@G'N@PLCEM<=C'G@K[ +*-.);-(0& <('$'& *4& -.''&23(%&*%.83(-4& *4
GM<M@M<ENG>'%N'M?C'I@BILC'KER-'3++'NES'BC:=G'3+2'U<>C>-'PE=<NW'OEB'GCB<NC'B:M?CB'M?:N':BW<N<NCV>'2?<G'<G':'PEJ[ 23.'.&3('&<..%&.'2(<-$'3.=6&;%=.0'2(%=8
JEN'GCn@CNPC';:B<:NM'<N'M?C'NEBJ:L'IEI@L:M<EN':N='<G'BCOCBBC='ME':G':'"+"?,)%*+0$".5'4.##$"#$',+/-4+3? $%1&23.&,(22.0%&*4&$%3.0$2(%).&$'&.''.%2$(-
,*.#4>'%N'PENMB:GM-'<N'M?C'KL@C'KER-'M?C'WL@M:J<NC'PE=EN'63+'NES'BC:=G'23+-'S?<P?'<G':'GMEI'PE=EN>'2?<G'<G 4*0&)*;%'.-$%1&,0*',.)2$5.&,(0.%2'&(<*;2
:N'CR:JILC'EO':'?EJE\FWE@G'NENGCNGC'J@M:M<EN>'OF'2?<G'GCn@CNPC'<G'OBEJ'ENC'EO'M?C'I:BCNMG'EO'M?C'G@K[ 23.&0$'#&*4&3(5$%1&(44.)2.=&)3$-=0.%9&E3.
DCPM'GCn@CNPC='<N'7':N='G?ESG'?CMCBE\FWEG<MF'OEB'KEM?'M?C'J<GGCNGC'IELFJEBI?<GJ'3++'p'3+2':N='M?C 4*;0& +($%& ,(22.0%'& *4& $%3.0$2(%).& (0.
NENGCNGC'J@M:M<EN'63+'p'23+-'<N=<P:M<NW'M?:M'M?<G'<N=<;<=@:L'<G':'P:BB<CB'EO'KEM?'GCn@CNPC'P?:NWCG> (;2*'*+(-& =*+$%(%26& (;2*'*+(-&0.).'8
'$5.6 m8-$%#.=& =*+$%(%26& (%=& m8-$%#.=
.44.)2& ].9196& ,(0.%2'& *4& $%=$5$=;(-'& 7$23 P,(02&40*+&)3(%1.'&$%&23.&)*=$%1&0.8 0.).''$5.9
k.0-$2N&H;%)2$*%(-&U^&(0.&2?,$)(--?&)(00$8 1$*%&23(2&0.';-2&$%&40(+.'3$426&+$''.%'.6 J*0& $%=$5$=;(-'& 7$23& (%& (;2*'*+(-
.0'&*4&%*%'.%'.&+;2(2$*%'&$%&*%.&*4&23. *0& %*%'.%'.& +;2(2$*%'6& (,,0*/$+(2.-? =*+$%(%2& =$'*0=.06& *%.& ,(0.%2& $'& (48
-(+$%$%& !!X& A-(+$%$%& ZD& 1.%.'& <;2& 3(5. GZ&,.0).%2&*4&(--&+;2(2$*%'&$%5*-5.&(-2.08 4.)2.=6&;%-.''&23.0.&3('&<..%&(&=.&%*5*
%*& '#$%& 40(1$-$2?& 23.+'.-5.'K& '..& M3(,9 (2$*%'&$%&23.&1.%.&'.e;.%).&)-*'.&2*&23. +;2(2$*%& $%& (& ,(0.%2(-& 1(+.2.9& \(-.'
LQ`6&<;2&(&3.2.0*N?1*;'&%*%'.%'.&+;2(8 <*;%=(0$.'& <.27..%& 23.& $%20*%& (%=& ./8 (%=& 4.+(-.'& (0.& (44.)2.=& $%& (,,0*/$8
2$*%&$%&23.&=.'+*,-(#$%&1.%.6&4*0&./(+8 *%'6& 0.4.00.=& 2*& ('& 1")#2!* 1#-!* '0-(-#+.19 +(2.-?&.e;(-&%;+<.0'6&(%=&23.&=$'*0=.0
,-.6& )(%& 0.';-2& $%& 23.& (;2*'*+(-& =*+$8 E3$'& 2?,.& *4& +;2(2$*%& +(?& (<*-$'3& 23. )(%& <.& 20(%'+$22.=& 40*+& 1.%.0(2$*%& 2*
%(%2& '#$%& =$'*0=.06& '20$(2.& ,(-+*,-(%2(0 ;';(-& ()).,2*0& (%=& =*%*0& ',-$).& '$2.' 1.%.0(2$*%K& *%& (5.0(1.6& 3(-4& 23.& *448
#.0(2*=.0+(& A'..& M3(,9& YaD9& E3$'& ,3.8 23(2&%*0+(--?&',-$).&*;2&23.&$%20*%'&=;08 ',0$%1&7$--&3(5.&23.&)*%=$2$*%&AJ$19&a8!D9
%*+.%*%& $'& 0.4.00.=& 2*& ('& 7(")+#.10,3& $%1& 1.%.& 20(%')0$,2$*%9& E3.& )*%'.8 :2&$'&$+,*02(%2&2*&)*;%'.-&(44.)2.=&$%=$8
2#!.2;& A$9.96& 3(-4& 23.& %*0+(-& (+*;%2& *4 e;.%).'& *4& ',-$).& '$2.& +;2(2$*%'& (0. 5$=;(-'&23(2&23.&0$'#&*4&20(%'+$22$%1&23.
,0*2.$%&$'&$%';4S)$.%2&4*0&4;%)2$*%D9 )*+,-./K& '*+.2$+.'& 23.?& -.(=& 2*& '#$,8 =$'*0=.0& $'& ZQ& ,.0).%2& 4*0& .()3& *4& 23.$0
"6
:%& m8-$%#.=& =*+$%(%2& $%3.0$2(%).6
<*23& +(-.'& (%=& 4.+(-.'& (0.& (44.)2.=6
(%=& 23.& ,.=$10..&,(22.0%& +(?& 0.'.+<-.
23(2&*4&(;2*'*+(-&=*+$%(%2&$%3.0$2(%).
AJ$19&a8ZD9&E3.0.&$'6&3*7.5.06&*%.&$+,*08
2(%2& =$44.0.%).9& P%& (44.)2.=& +(-.& 20(%'8
+$2'& 23.& =$'*0=.0& 2*& (--& 3$'& =(;132.0'
(%=&2*&%*%.&*4&3$'&'*%'9&m8-$%#.=&=*+$8
%(%2&$%3.0$2(%).&3('&<..%&,*'2;-(2.=&('
(& +.)3(%$'+& $%& $%)*%2$%.%2$(& ,$1+.%2$
A'..& M3(,9& F!D6& M*%0(=$8kt%.0+(%%
'?%=0*+.6&(%=&4*)(-&=.0+(-&3?,*,-('$(
Af*-2N& '?%=0*+.D6& )*%=$2$*%'& 23(2& (0.
(-+*'2& (-7(?'& -$+$2.=& 2*& 4.+(-.'9& :%
+*'2&m8-$%#.=&=*+$%(%2&=$'*0=.0'&7$23
);2(%.*;'&+(%$4.'2(2$*%'6&(44.)2.=&+(-.'
=>?@<;,6AE /C=<WBCC'<LL@GMB:M<EN'EO':N':@MEGEJ:L'=EJ<N:NM'I:MMCBN'EO'<N?CB<M:NPC>'7CF'EKGCB;:M<ENG +(?& <.& (<*02.=& ',*%2(%.*;'-?& *0& =$.
<NPL@=CA'M?C'=<GEB=CB':OOCPMG'KEM?'J:LCG':N='OCJ:LCGa'EN':;CB:WC-'e`'ICBPCNM'EO'M?C'EOOGIB<NW'EO':N':O[ <.4*0.& $+,-(%2(2$*%& A4*0& ./(+,-.6& +*'2
OCPMC='<N=<;<=@:L'S<LL'KC':OOCPMC=a':OOCPMC='<N=<;<=@:LG'?:;C'ENC'NEBJ:L'PEIF':N='ENC'J@M:MC='PEIF'EO'M?C +(-.& ,(2$.%2'& 7$23& $%)*%2$%.%2$(& ,$18
WCNCa':OOCPMC='<N=<;<=@:LG'@G@:LLF'?:;C'ENC':OOCPMC='I:BCNM-'@NLCGG'M?C'=<GEB=CB'?:G':B<GCN'=C'NE;E>'%J[ +.%2$& 3(5.& (& ,*'2N?1*2$)& +;2(2$*%& $%
hU\W6&(%=&%*&(44.)2.=&+*23.0K&$%&23$'
IEBM:NMLF-' CR:JILCG' EO'J:LC[ME[J:LC' MB:NGJ<GG<EN-' GCCN' ?CBC-'=<GM<NW@<G?'M?<G'OBEJ' ^[L<NTC=' =EJ<N:NM
=$'*0=.06& 20(%'+$''$*%& 2.%='& 2*& <.& 4.8
:N=':BC'M?CBCOEBC'M?C'KCGM'?:LLJ:BT'EO':@MEGEJ:L'=EJ<N:NM'<N?CB<M:NPC>'(<LLC='P<BPLCG'<N=<P:MC':OOCPMC=
+(-.82*84.+(-.D9
OCJ:LCGa'QLLC='Gn@:BCG'<N=<P:MC':OOCPMC='J:LCGa'@NQLLC='P<BPLCG]Gn@:BCG'BCIBCGCNM'@N:OOCPMC='<N=<;<=@:LG> m8-$%#.=&0.).''$5.&)*%=$2$*%'&*));0&(-8
+*'2&./)-;'$5.-?&$%&+(-.'6&<;2&23.&1.%.
)3$-=0.%6&(%=&23(2&23$'&$'&%*2&$%T;.%).= ;%(44.)2.=& ,(0.%2& $'& %*2& (& )(00$.09& P-8 $'& 20(%'+$22.=& <?& )(00$.0& 4.+(-.'6& 73*
<?&23.&%;+<.0&*4&,0.5$*;'-?&(44.)2.=&*0 23*;13& 23$'& $'& ;';(--?& 23.& )('.& $%& %*%8 3(5.& 23.& +;2(2.=& 1.%.& *%-?& *%& *%.& m
;%(44.)2.=&*44',0$%19&P%?&*44',0$%1&23(2 )*%'(%1;$%.*;'& 0.-(2$*%'3$,'6& $2& +(? )30*+*'*+.& A3.2.0*N?1*;'& '2(2.D9& E3.
(0.& (44.)2.=& 7$--& 3(5.& (& ZQ& ,.0).%2& 0$'# %*2&3*-=&20;.&$%&S0'28)*;'$%&+(00$(1.'&*0 '*%'&*4&(%&(44.)2.=&+(-.&7$--&(--&<.&%*08
*4&20(%'+$22$%1&23.&+;2(2.=&1.%.&2*&23. *23.0&)$0);+'2(%).'&73.0.&23.0.&$'&(&4(8 +(-&A<.)(;'.&23.$0&'$%1-.&m&)30*+*'*+.
%./2& 1.%.0(2$*%6& 73.0.('& 4*0& (%?& ;%(48 +$-$(-& $%2.00.-(2$*%'3$,9& J*0& ./(+,-.6& $4 )*+.'& 40*+& 23.$0& )-$%$)(--?& ;%(44.)2.=
4.)2.=& *44',0$%16& 23.& 0$'#& *4& 23.& %./2 23.&,(02%.0&*4&(%&$%=$5$=;(-&7$23&(%&(;8 +*23.0D&AJ$19&a8LD9&k*7.5.06&23.&=(;138
1.%.0(2$*%& <.$%1& (44.)2.=& $'& %.1-$1$<-.6 2*'*+(-&0.).''$5.&=$'*0=.0&$'&(-'*&(&)(08 2.0'&*4&(%&(44.)2.=&+(-.&7$--&(--&<.&)(00$8
,0*5$=$%1&23(2&23.&,(02%.0&=*.'&%*2&3(5. 0$.0& *4& 23.& '(+.& +;2(2$*%6& (-<.$2& )-$%$8 .0'&A<.)(;'.&(--&3(=&2*&3(5.&0.).$5.=&23.
23.&(;2*'*+(-&=*+$%(%2&)*%=$2$*%9 )(--?& ;%(44.)2.=6& 23.%& 23.0.& $'& (& ZQ '$%1-.& m& )30*+*'*+.& 23(2& 23.$0& 4(23.0
:%& (;2*'*+(-& 0.).''$5.& =$'*0=.0'6 ,.0).%2& )3(%).& *4& 23.& *44',0$%1& $%3.0$28 3(=6&(%=&23(2&m&)30*+*'*+.&)(00$.'&23.
<*23& ,(0.%2'&(0.& )(00$.0'&*4& *%.& %*0+(- $%1& 27*& +;2(%2& (--.-.'& (%=& 23.0.4*0. +;2(%2&)*,?&*4&23.&)*00.',*%=$%1&1.%.D9
(%=& *%.& +;2(2.=& (--.-.& 4*0& 23.& '(+. (-'*& $%3.0$2$%1& 23.& '(+.& (;2*'*+(-& 0.8 "*+.& 4.+(-.'& '3*7& )-$%$)(-& (<%*0+(-$8
1.%.&(%=6&2?,$)(--?6&23.?&(0.&,3.%*2?,$8 ).''$5.& =$'*0=.09& E3$'& ,(22.0%& *4& $%3.0$8 2$.'&('&.5$=.%).&*4&23.&)(00$.0&'2(2.&A';)3
)(--?&;%(44.)2.=&AJ$19&a8YD9&:4&<*23&*4&23. 2(%).&$'&0.4.00.=&2*&('&"1!0$+&$+'#.(.-9 ('&$%&3?,*3$=0*2$)&.)2*=.0+(-&=?',-('$(K
+;2(2.=& (--.-.'& (0.& 20(%'+$22.=& 2*& 23.
*44',0$%16& 23$'& 7$--& 1$5.& 0$'.&2*& (%& (;2*8
'*+(-& 0.).''$5.& =$'*0=.06& 23.& 0$'#& *4
73$)3&$'&XZ&,.0).%29&:4&*%.&+;2(2.=&(%=
*%.& 7$-=82?,.& (--.-.& $'& $%3.0$2.=& <?& 23.
*44',0$%16&23.&)3$-=&7$--&<.&(%&;%(44.)2.=
)(00$.06& '$+$-(0& 2*& 23.& ,(0.%2'9& :4& <*23
7$-=82?,.& (--.-.'& (0.& 20(%'+$22.=6& 23.
)3$-=& 7$--& <.& 1.%*2?,$)(--?& (%=& ,3.%*8
2?,$)(--?& %*0+(-& 7$23& 0.',.)2& 2*& (%& (48
4.)2.=&$%=$5$=;(-9&:4&23.&+;2(2$*%'&40*+
<*23& ,(0.%2'& (0.& 23.& '(+.6& 23.& $%=$5$=8
;(-& $'& 0.4.00.=& 2*& ('& (& 7+'+5;/+-!6& <;2&$4
=$44.0.%2& ,(0.%2(-& +;2(2$*%'& 7$23$%& (
1.%.&3(5.&<..%&$%3.0$2.=6&23.&$%=$5$=;(-
$'& 2.0+.=& (& 2+'"+0.$* 7!-!%+5;/+-!9& J*0
'*+.*%.& 73*& 3('& (%& (;2*'*+(-& 0.).'8
'$5.& )*%=$2$*%6& <.& $2& (& 3*+*N?1*2.& *0
=>?@<;,6AG /C=<WBCC'<LL@GMB:M<EN'EO':N':@MEGEJ:L'BCPCGG<;C'I:MMCBN'EO'<N?CB<M:NPC>'7CF'EKGCB;:M<ENG
)*+,*;%=& 3.2.0*N?1*2.6& (--& *44',0$%1
7$--&<.&)(00$.0'&*4&*%.&*4&23.&+;2(2.=&(-8 <NPL@=CA'M?C'=<GEB=CB':OOCPMG'KEM?'J:LCG':N='OCJ:LCGa'M?CBC':BC'J@M:M<ENG'EN'KEM?'<N?CB<MC='PEI<CG'EO'M?C
-.-.'& <;2& 7$--& <.& ;%(44.)2.=& <.)(;'.& *4 WCNCa'M?C'I:BCNMG'EO':N':OOCPMC='<N=<;<=@:L':BC'KEM?'?CMCBE\FWE@G'P:BB<CBG':N=':BC'@G@:LLF'PL<N<P:LLF'@N:O[
$%3.0$2(%).& *4& (& 7$-=82?,.& (--.-.& 40*+ OCPMC=a':@MEGEJ:L'BCPCGG<;C'=<GEB=CBG':BC'JEBC'PEJJEN'<N'PENG:NW@<NCE@G'O:J<L<CG>'(<LLC='P<BPLC'<N=<[
23.& *23.06& )-$%$)(--?& (%=& 1.%.2$)(--?& ;%8 P:MCG':OOCPMC='OCJ:LCa'?:LO[QLLC='P<BPLCG]Gn@:BCG'BCIBCGCNM'PL<N<P:LLF'@N:OOCPMC='?CMCBE\FWE@G'P:BB<CBG'EO
(44.)2.=6& ,(0.%29& E3$'& ('';+.'& 23(2& 23. M?C'J@M:M<ENa'@NQLLC='P<BPLCG]Gn@:BCG'BCIBCGCNM'@N:OOCPMC='<N=<;<=@:LG>'
"D
=0*+.9& :4& 27*& )30*+*'*+.'& <0.(#6& 23.
=.2()3.=& 40(1+.%2'& +(?& <.& ./)3(%1.=6
#%*7%& ('& %!2#"%+2()* -%(.1)+2(-#+.9& :4& 23$'
,0*).''&$%5*-5.'&%*&-*''&*4&_hP&$2&$'&0.8
4.00.=&2*&('&(&9()(.2!$*-%(.1)+2(-#+.9&W23.0
'20;)2;0(-&(<.00(2$*%'&$%)-;=.&=;,-$)(2$*%
*4&'.)2$*%'&*4&)30*+*'*+.'6&27*&<0.(#'
7$23$%&*%.&)30*+*'*+.&-.(=$%1&2*&$%5.08
'$*%6&(%=&4;'$*%&*4&23.&.%='&*4&27*&<0*8
#.%& )30*+*'*+(-& (0+'6& -.(=$%1& 2*& H*$%8
$%1& *4& 23.& .%='& (%=& 4*0+(2$*%& *4& (& 0$%1
)30*+*'*+.9
P& 4;023.0& ,*''$<-.& )30*+*'*+(-& (<8
%*0+(-$2?&$'&23.&$%3.0$2(%).&*4&<*23&)*,8
$.'& *4& (& )30*+*'*+.& ,($0& 40*+& H;'2& *%.
,(0.%2& A,(2.0%(-& *0& +(2.0%(-D6& #%*7%& ('
=>?@<;,6A! /C=<WBCC'<LL@GMB:M<EN'EO':N'^[L<NTC='=EJ<N:NM'I:MMCBN'EO'<N?CB<M:NPC>'7CF'EKGCB;:M<ENG 0.#"(%!.-()* $#1+';9GZ V.#"(%!.-()* 7!-!%+$#&
<NPL@=CA':OOCPMC='<N=<;<=@:LG':BC'C<M?CB'?CJ<\FWE@G'J:LCG'EB'?CMCBE\FWE@G'OCJ:LCGa':OOCPMC='J:LCG'S<LL 1+';& 0.4.0'& 2*& 23.& ,0.'.%).& *4& (& ,($0& *4
MB:NGJ<M'M?C'=<GEB=CB'ME'M?C<B'=:@W?MCBG'K@M'NEM'ME'M?C<B'GENG'UNE'J:LC[ME[J:LC'MB:NGJ<GG<ENVa':OOCPMC='OC[ )30*+*'*+.& 3*+*-*1'6& 73.0.('& 0.#"(&
J:LCG'S<LL'MB:NGJ<M'M?C'=<GEB=CB'ME'?:LO'M?C<B'=:@W?MCBG':N='?:LO'M?C<B'GENGa'GEJC'=<GEB=CBG'EO'M?<G'MFIC %!.-()* #1+$#1+';& =.')0$<.'& 27*& $=.%2$)(-
:BC'LCM?:L'<N'?CJ<\FWE@G'J:LCG':N='ENLF'?CMCBE\FWE@G'OCJ:LCG'G@B;<;C>'(<LLC='P<BPLCG'<N=<P:MC':OOCPMC='OC[ )*,$.'&*4&(&'$%1-.&3*+*-*16&(%=&'!%+#1+$#&
1+';&$'&(&+$/2;0.&*4&23.&27*9&B%$,(0.%2(-
J:LCGa'QLLC='Gn@:BCG'<N=<P:MC':OOCPMC='J:LCGa'@NQLLC='P<BPLCG]Gn@:BCG'BCIBCGCNM'@N:OOCPMC='<N=<;<=@:LG>
=$'*+?& 7$23& 3*+*N?1*'$2?& *4& 0.).''$5.
(--.-.'&$'&<.$%1&$%)0.('$%1-?&0.)*1%$N.=&('
'..& M3(,9& GY!DK& 23.& 5(0$(<-.& ./2.%2& *4 4.)2& 23.& m& )30*+*'*+.& <;2& $'& 0(0.-? 23.&+*-.);-(0&<('$'&4*0&'.5.0(-&(;2*'*+(-
,3.%*2?,$)&./,0.''$*%&)(%&<.&./,-($%.= '..%& $%& (;2*'*+.'& <.)(;'.& *4& %*%85$(8 0.).''$5.& =$'*0=.0'6& (%=& 23.0.& 3(5.& <..%
<?& -?*%$N(2$*%6& 23.& %*0+(--?& 0(%=*+ <$-$2?9&P&%;+<.0&*4&)30*+*'*+(-&=$'*08 +*0.&23(%&!Z&0.,*02.=&)('.'&*4&0.).''$5.
,0*).''&23(2&$%()2$5(2.'&.$23.0&23.&7$-=8 =.0'&(0.&(-'*&(''*)$(2.=&7$23&'#$%&(<%*08 =$'.('.'6&$%)-;=$%1&H;%)2$*%(-&(%=&=?'20*8
2?,.&*0&+;2(2.=&m&)30*+*'*+.&$%&.()3 +(-$2$.'6&('&=.2($-.=&$%&E(<-.&a8X9 ,3$)& U^& A'..& M3(,9& LQD6& 0.';-2$%1& 40*+
).--& =;0$%1& 23.& S0'2& 7..#'& *4& 1.'2(2$*% "20;)2;0(-& (<.00(2$*%'& A40(1$-$2?& <0.(#'D 23$'& 2?,.& *4& )30*+*'*+(-& (<%*0+(-$2?9
(%=& (--& ,0*1.%?& ).--'9GY& W23.0& )(00$.0' $%& )30*+*'*+.'& +(?& <.& 0(%=*+6& (-8 J*0&).02($%&)30*+*'*+.'6&;%$,(0.%2(-&=$8
+(?& %*2& '3*7& +(%$4.'2(2$*%'& <.)(;'. 23*;13& '*+.& )30*+*'*+(-& 0.1$*%'& (,8 '*+?& )(%& (-'*& 0.';-2& $%& =$'2$%)2& ,3.%*8
23.& (44.)2.=& 0.1$*%& *%& 23.& m& )30*+*8 ,.(0& +*0.& 5;-%.0(<-.9& [*''& *4& ,(02& *4& ( 2?,.'& =.,.%=$%1& *%& 23.& ,(0.%2(-& *0$1$%
'*+.& .')(,.'& -?*%$N(2$*%& A('& $%& 0.).'8 )30*+*'*+.&$'&0.4.00.=&2*&('&(&$!)!-#+.9&:4 *4& 23.& )30*+*'*+.'6& (& ,3.%*+.%*%
'$5.&m8-$%#.=&$)323?*'$'D&*0&23.&'.-.)2$5. 23.& =.-.2$*%& -.(='& 2*& -*''& *4& %.$13<*0$%1 #%*7%&('&/!.+'#2*#'"%#.-#./9GL6GF&E3$'&,(08
';05$5(-& =$'(=5(%2(1.& *4& ).--'& $%& 73$)3 1.%.'& 23$'& +(?& 0.';-2& $%& (& )*%2$1;*;' .%28*48*0$1$%6& ',.)$S)& 1.%.& ./,0.''$*%& $'
23.&+;2(2.=&m&)30*+*'*+.&$'&()2$5(2.= 1.%.&=$'*0=.06&';)3&('&(&=.-.2$*%&*%&23.&m =.2.0+$%.=& <?& .,$1.%.2$)& +*=$S)(2$*%
A('& $%& 23.& -?+,3*)?2.'& (%=& ,-(2.-.2'& *4 )30*+*'*+.& 1$5$%1& 0$'.& 2*& m8-$%#.=& $)38 *4&(&',.)$S)&1.%.&*06&+*0.&*42.%6&(&10*;,
)(00$.0'& *4& O$'#*228P-=0$)3& '?%=0*+.K 23?*'$'& A'..&M3(,9& YFD& (%=&b(--+(%&'?%8 *4& 1.%.'6& ';)3& 23(2& 1.%.& 20(%')0$,2$*%& $'
'..&\*'($)$'+D9
68$!0!4!03*'.%4!$.#$4
P<.00(2$*%'& $%& )30*+*'*+.'& (0.& )*+8
+*%9& E3.?& *));0& $%& (<*;2& L& ,.0).%2& *4
(--&)*%).,2$*%'6&(-23*;13&+*'2& *4& 23.'.
-.(=& 2*& +$')(00$(1.6& (%=& 23.& 40.e;.%)?
*4& )30*+*'*+(-& (<%*0+(-$2$.'& $%& -$5.
<$023'& $'& (<*;2& Q9L& ,.0).%29& P,,0*/$8
+(2.-?& 27*823$0='& *4& 23.'.& $%5*-5.& (<8
%*0+(-$2$.'&$%&.$23.0&23.&%;+<.0&*4&'./
)30*+*'*+.'& *0& 23.& %;+<.0& *4& (;2*8
'*+.'K&23.&0.+($%=.0&(0.&)30*+*'*+(-
0.(00(%1.+.%2'9& E3.& %;+<.0& (%=& (08
0(%1.+.%2& *4& 23.& )30*+*'*+.'& $'& 0.8
4.00.=& 2*& ('& 23.& 4(%;+-;"!9& E3.& +*'2
)*++*%& %;+.0$)(-& (<%*0+(-$2?& $'& 20$8
=>?@<;,6AH /C=<WBCC'<LL@GMB:M<EN'EO':N'^[L<NTC='BCPCGG<;C'I:MMCBN'EO'<N?CB<M:NPC>'7CF'EKGCB;:M<ENG
'*+?6&23.&,0.'.%).&*4&(%&./20(&)30*+*8
<NPL@=CA'@G@:LLF':OOCPMG'ENLF'J:LCG'K@M'OCJ:LCG'P:N'G?ES'GEJC'OC:M@BCG'KCP:@GC'EO'LFEN<\:M<EN'U^[P?BE[
'*+.9& E3$'& *));0'& <.)(;'.& *4& %*%8=$'8
H;%)2$*%6& 73.%& ,($0'& *4& 3*+*-*1*;' JEGEJC'<N:PM<;:M<ENVa'MB:NGJ<MMC='M?BE@W?'OCJ:LC'P:BB<CBG-'S<M?'NE'J:LC[ME[J:LC'MB:NGJ<GG<ENa'OEB':O[
)30*+*'*+.'& 4($-& 2*& '.,(0(2.& =;0$%1 OCPMC='J:LCG-':LL'=:@W?MCBG'S<LL'KC'?CMCBE\FWE@G'P:BB<CBGa'OCJ:LC'P:BB<CB'S<LL'MB:NGJ<M'M?C'=<GEB=CB'ME'?:LO
+.$*'$'6&-.(=$%1&2*&1(+.2.'&7$23&(%&(=8 ?CB'GENG-':N='?:LO'?CB'=:@W?MCBG'S<LL'KC'?CMCBE\FWE@G'P:BB<CBG>'.EMG'S<M?<N'P<BPLCG'<N=<P:MC'?CMCBE\FWE@G
=$2$*%(-& )30*+*'*+.9& [*''& *4& (& )*+8 P:BB<CB'OCJ:LCG'S?E'J:F'EB'J:F'NEM'=<GIL:F'GEJC'I?CNEMFI<P':KNEBJ:L<M<CGa'QLLC='Gn@:BCG'<N=<P:MC':O[
,-.2.& )30*+*'*+.6& +*%*'*+?6& )(%& (48 OCPMC='J:LCGa'@NQLLC='P<BPLCG]Gn@:BCG'BCIBCGCNM'@N:OOCPMC='<N=<;<=@:LG>
6I
!"#$%&.(*
/I<'H'('H?F)9&('<B=<()^&%I)?)+,&#)>I=#'%M;=))
/N7282+2854
5D.27854106 +6.2.68 A3.3754)!350-73+ +@1.)85.1!3+05012.+
2B<GEJF'YX .ESN 4J:LL'?C:='S<M?'q:M'O:PC XoX`'FBA'=BF'GT<N-'RCBEG<G-'L<P?CN<QP:M<EN
GFN=BEJC 1EGC'G?EBM':N='Gn@:M X`r'FBA'<NPBC:GC='OBCn@CNPF'EO':MEI<P'=CBJ:M<M<G-':LEICP<:':BC:M:-'G<NWLC'
#:BG'GJ:LL':N='J<GG?:ICN PBC:GC'<N'I:LJ':N='QOM?'QNWCB
4L:NM<NW'I:LICKB:L'QGG@BCG !M?CB':GGEP<:M<ENGA'GT<N'<NOCPM<ENG-':NW@L:B'P?C<L<M<G-'WCEWB:I?<P'MENW@C-'
2?<PTCNC='CFCL<=G KLCI?:B<M<G-'BC='P?CCTG-'OELL<P@L<M<G-'GCKEBB?C<P'=CBJ:M<M<G-'KE<LG-'ENFP?E[
#FCL:G?CG'G?EBM':N='GI:BGC JFPEG<G-'QNC'?FIEI<WJCNMC='?:<B-';<M<L<WE-'=CL:FC='=CNM<M<EN':N='?FIE[
4?EBMCNC='L<JKG-'L:R'DE<NMG IL:GM<P'MCCM?-':PBEPF:NEG<G-'L<;C=E'BCM<P@L:B<G-'P@M<G'J:BJEB:M:-'
(<NWCBG'G?EBM-'GEJCM<JCG'SCKKC= P:LP<NEG<G'P@M<G-'I:LJEIL:NM:B'TCB:ME=CBJ:-'I<MFB<:G<G'B@KB:'I<L:B<G-'
8FIEIL:GM<P'<B<G-'L<W?MCB'E@MCB'\ENC' GFB<NWEJ:G-'CL:GMEG<G'ICBOEB:NG'GCBI<W<NEG:-':NCME=CBJ:-'?FICBTCB:[
U)B@G?QCL=cG'GIEMGV MEM<P'OEBJ'EO'IGEB<:G<G-'PELL:WCNEJ:-'CB@IM<;C'=CBJ:MEQKBEJ:G-'@BM<P:B<:'
I<WJCNMEG:-'LC@TCJ<:'P@M<G-'TCB:MEG<G'OELL<P@L:B<G'GI<N@LEG:'=CP:L;:NG
2B<GEJF'Xg #=S:B=G 4C;CBC'JCNM:L'=CQP<CNPF 6@M<G'L:R:'UNCPTV-'?FICBMB<P?EG<G'EO'OEBC?C:=':N='K:PT-'G@ICBQP<:L'
GFN=BEJC 3KNEBJ:L'GT@LL'G?:IC ?CJ:NW<EJ:G-':KNEBJ:L'=CBJ:MEWLFI?<PG-'G<NWLC'I:LJ:B'PBC:GC-'?FICB[
4J:LL'P?<N-'IBEJ<NCNM'EPP<I@M I<WJCNM:M<EN-':NTFLEKLCI?:BEN'QL<OEBJC':=N:M@J
*ES[GCM-'J:LOEBJC='C:BG
i$EPTCB'KEMMEJj'OCCM
4?EBM'GMCBN@J
0:LOEBJ:M<ENG'EO'<NMCBN:L'EBW:NG
!NLF'X`s'G@B;<;C'KCFEN='QBGM'FC:B
2B<GEJF'XZ /:M:@'GFN[ 0CNM:L'BCM:B=:M<EN ":GP@L:B':NEJ:L<CG'UCGICP<:LLF'EN'OEBC?C:=V
=BEJC 4LEI<NW'OEBC?C:='=@C'ME'OEBCKB:<N' 8FICBPEN;CR'N:<LG
J:L=C;CLEIJCNM'U?ELEIBEGCNPCI?:LFV *EP:L<\C='GP:LI'=COCPMG
0<PBEI?M?:LJ<:'EB':NEI?M?:LJ<: 6@M<G'L:R:'UNCPTV
6LCOM'I:L:MC]PLCOM'L<I 3KNEBJ:L'I:LJ'IB<NM'U=<GM:L'I:LJ:B':R<:L'MB<B:=<@GV
*ES[GCM'C:BG
i$EPTCB'KEMMEJj'OCCM
0:LOEBJ:M<ENG'EO'<NMCBN:L'EBW:NG
4@B;<;:L'KCFEN='f'JE'<G'B:BC
6?BEJEGEJC'd-' 0<PBEPCI?:LF 4P:LI'=COCPMG
G?EBM':BJ'=CLCM<EN 0CNM:L'BCM:B=:M<EN
8FIEGI:=<:G
6LCOM'L<I]I:L:MC
*ES[GCM'C:BG-'IBC:@B<P@L:B'I<MG
6?BEJEGEJC'e-' 0CNM:L'BCM:B=:M<EN /BCJ:M@BC'WB:F<NW'EO'?:<B
G?EBM':BJ'=CLCM<EN 0<PBEPCI?:LF
6:M[L<TC'PBF
*ES[GCM'C:BG-'IBC:@B<P@L:B'GT<N'M:W
6?BEJEGEJC'Xg-' 8FIEIL:G<:'EO'J<=[O:PC #P\CJ:'<N'Yes'EO'P:GCG
LENW':BJ'=CLCM<EN 4@NTCN'CFCG
/BEJ<NCNM'C:B':NM<[?CL<R
0@LM<ILC'GTCLCM:L':N='EP@L:B':KNEBJ:L<M<CG
de'^! 2@BNCB' #:BLF'CJKBFEN<P'LEGGa'IBCN:M:L'@LMB:[ $C=@N=:NM'NCPT'GT<N':N='ICB<I?CB:L'C=CJ:
GFN=BEJC GE@N='QN=<NWG'EO'PFGM<P'?FWBEJ:-'P?F[ &CKKC='NCPT-'LES'IEGMCB<EB'?:<BL<NC
LEM?EB:R-':GP<MCG':N='?F=BEIG 6@M<G'L:R:'UNCPT-'K@MMEPTGV
4?EBM'GM:M@BC-':JCNEBB?C: 8FIEIL:GM<P-'GEOM'@I[M@BNC='N:<LG
)BE:='P?CGM-'S<=CLF'GI:PC='N<IILCG %NPBC:GC='<NP<=CNPC'EO'TCLE<=G
&<=C'P:BBF<NW':NWLC'EO':BJG %NPBC:GC='N@JKCB'EO'JCL:NEPFM<P'NC;<':N='?:LE'NC;<
*ES'J<GG?:ICN'C:BG-'?<W?':BP?C='I:L:MC (:<L@BC'ME'=C;CLEI'O@LL'GCPEN=:BF'GCR@:L'P?:B:PMCB<GM<PG
4?EBM'OE@BM?]QOM?'QNWCBG':N='MECG *FJI?:M<P'?FIEIL:G<:]LFJI?C=CJ:
4TCLCM:L':KNEBJ:L<M<CG-'PE:BPM:M<EN'EO':EBM:
d9'^^, 7L<NCOCLMCB 1E'J:N<OCGM:M<ENG'KCOEBC'I@KCBMF 0:F'=C;CLEI'WFNCPEJ:GM<:
GFN=BEJC 4J:LL'MCGMCG-'IEEBLF'=C;CLEIC='GCPEN[ 4I:BGC'KE=F':N='O:P<:L'?:<B
=:BF'GCR@:L'P?:B:PMCB<GM<PG %NPBC:GC='B<GT'EO'LCW'@LPCBG
%NOCBM<L<MF %NPBC:GC='<NP<=CNPC'EO'GFGMCJ<P'L@I@G'CBFM?CJ:MEG@G
2:LL-'EKCGC-'EGMCEIEBEG<G
65+"%."7$89 6B
!"#$%&.(*
/I<'H'('H?F)9&('<B=<()^&%I)?)+,&#)>I=#'%M;=))X/'#%&#"=BY
/N7282+2854
5D.27854106 +6.2.68 A3.3754)!350-73+ +@1.)85.1!3+05012.+
dg'^^,, 4<J<L:B'ME'7L<NCOCLMCB'GFN=BEJC 0@LM<ILC'P@M:NCE@G':NW<EJ:G
3PBEPF:NEG<G-'ICB<I?CB:L';:GP@L:B'=<GC:GC
d9'^,, /?CNEMFI<P'J:LCG'UM:LLV 4C;CBC':PNC
0CNM:L'BCM:B=:M<EN
3WWBCGG<;C'KC?:;<EB
db'^^^^, *ES'K<BM?'SC<W?M 8FIEMB<P?EG<G'U;:B<:KLCV
4LES'JCNM:L':N='I?FG<P:L'=C;CLEIJCNM
*:BWC-'LES[GCM-'J:LOEBJC='C:BG
4J:LL'WCN<M:L<:
(B:W<LC'^' 0CNM:L'BCM:B=:M<EN H
GFN=BEJC 0<L='=FGJEBI?<GJ
8FICBCRMCNG<KLC'DE<NMG-'q:M'OCCM
(-2.0.=6& (%=& *%-?& *%.& $%3.0$2.=& )*,?& *4 2($%&230.'3*-=9&E3.&,3.%*+.%*%&*4&3(58 E*&=$''.)2& *;2& 1.%.'& 23(2&)*%20$<;2.&2*6
23.&0.-.5(%2&$+,0$%2.=&1.%.A'D&$'&./,0.''.= $%1& +$/.=& +$2*)3*%=0$(-& _hP& ',.)$.' (%=&$%T;.%).&';').,2$<$-$2?&2*6&)*+,-./
$%& 23.& .+<0?*9& E3$'& +.(%'& 23(26& =;0$%1 7$23$%&(&).--&$'&#%*7%&('&7!-!%+")(1';9&\$8 20($2'6& '.5.0(-& '2(1.'& +(?& <.& %.).''(0?6
=.5.-*,+.%26&23.&,(0.%2(-&1.%*+.'&4;%)8 2*)3*%=0$(-& +;2(2$*%'& )(%& $%=;).6& *0& <. $%)-;=$%1&.'2(<-$'3$%1&(&1.%.2$)&<('$'&4*0
2$*%&;%.e;(--?&$%&23.&*44',0$%19&E3.&+*'2 $%=;).=& <?6& 0.()2$5.& */?1.%& ',.)$.'6& (%= 23.&=$'.('.&$%&*%.&*0&+*0.&,*,;-(2$*%'K
)*++*%&./(+,-.'&*4&1.%*+$)&$+,0$%2$%1 +(?& <.& 4*;%=& $%6& *0& )*%20$<;2.& 2*6& <*23 +.(';0$%1& 23.& =$'20$<;2$*%& *4& 1.%.& .48
(0.& R0(=.0dO$--$& AW\:\& uGFLXFQD& (%= )30*%*-*1$)& (1$%1& (%=& ,3*2*(1$%19& "*8 4.)2'K& '2;=?$%1& '2(2$'2$)(-& ,*7.0& ;'$%1
P%1.-+(%& AW\:\& uGQZa!QD& '?%=0*+.'6 +(2$)& +;2(2$*%'& $%& +$2*)3*%=0$(-& _hP +*=.-'K& (%=& )(00?$%1& *;2& +(0#.08<('.=
73$)3& )(%& 0.';-2& 40*+& +(2.0%(-& *0& ,(2.08 3(5.& (-'*& <..%& 0.,*02.=& $%& '.5.0(-& ,0.8 +(,,$%1&'2;=$.'&;'$%1&-$%#(1.&*0&(''*)$8
%(-& ;%$,(0.%2(-& =$'*+?& 4*0& )30*+*'*+. +(-$1%(%2&(%=&+(-$1%(%2& 2;+*0'6&$%)-;=8 (2$*%9&:2&$'&,*''$<-.&2*&.'2(<-$'3&e;(%2$2(8
GZ6& 0.',.)2$5.-?9& E30..& ,3.%*2?,.& (<%*08 $%1& +(-$1%(%2& +.-(%*+(6& (-23*;13& $2& $' 2$5.&1.%.2$)&+*=.-'&2*&.'2$+(2.&23.&3.0$8
+(-$2$.'&)*++*%-?&(''*)$(2.=&7$23&;%$8 %*2&?.2&#%*7%&73.23.0&23.'.&+;2(2$*%' 2(<$-$2?&*4&(&)*+,-./&20($26&('&7.--&('&2*
,(0.%2(-& =$'*+?& 4*0& )30*+*'*+.'& 7$23 (0.&)(;'(--?&-$%#.=&2*&)(%).0&=.5.-*,+.%2 ,0.=$)2& 23.& =$'20$<;2$*%& *4& 1.%.& .44.)2'
$+,0$%2$%1& (0.& $%20(;2.0$%.& 10*723& 0.2(08 *0&'$+,-?&(&'.)*%=(0?&<?'2(%=.0&.44.)2&(' (%=&2*&2.'2&73.23.0&*%.&*0&+*0.&e;(%2$8
=(2$*%6&=.5.-*,+.%2(-&=.-(?6&(%=&0.=;).= (&)*%'.e;.%).&*4&%;)-.(0&_hP&$%'2(<$-$2?9 2(2$5.&20($2& -*)$&./$'29&E3.'.&+*=.-'&)(%
'2(2;0.9Ga :%=..=6& );00.%2-?& 23.0.& $'& -$22-.& ;%=.08 ,0.=$)2&23.&,*7.0&*4&=$44.0.%2& +(,,$%1
'2(%=$%1&*4&23.&$%2.0,-(?&<.27..%&23.&%;8 (,,0*()3.'6& <;2& *42.%& *%-?& ,0*5$=.& (,8
)-.(0&(%=&+$2*)3*%=0$(-&1.%*+.'&$%&<*23 ,0*/$+(2.& ,0.=$)2$*%'9& \*0.*5.06& -*7
0%2!68!1.$%3*'.%4!$.#$4 3.(-23&(%=&=$'.('.9&h.5.023.-.''6&$2&$'&.5$8 ,*7.0&*42.%&-$+$2'&*23.0&'20(2.1$.'&';)3
:%& (==$2$*%& 2*& 23.& !9!& <$--$*%& <,& %;)-.(0 =.%2&23(2&23.&1.%.'&.%)*=.=&<?&23.&+$2*8 ('& 20(%'+$''$*%& (%(-?'.'6& (''*)$(2$*%
1.%*+.6& .()3& ).--& )*%2($%'& 3;%=0.='& *0 )3*%=0$(-&1.%*+.&3(5.&+;-2$,-.&<$*-*1$) '2;=$.'6& (%=& 4(+$-?8<('.=& (''*)$(2$*%
23*;'(%='& *4& )*,$.'& *4& (& 4;023.0& GL9Z8#< 4;%)2$*%'& -$%#.=& 2*& .%.01?& ,0*=;)2$*%6 2.'2'9& P%*23.0& ,*2.%2$(-& ,$24(--& *4& (''*8
+$2*)3*%=0$(-& 1.%*+.6& 73$)3& $'& $%3.08 ).--&,0*-$4.0(2$*%6&(%=&(,*,2*'$'9XG )$(2$*%&'2;=$.'&$'&23(2&23.?&)(%&1.%.0(2.
$2.=& '*-.-?& 40*+& (%& $%=$5$=;(-V'& +*23.09 ',;0$*;'& (''*)$(2$*%'& =;.& 2*& ,*,;-(8
E3$'&)-*'.=6&)$0);-(0&1.%*+.&)*%2($%'&!F 2$*%& (=+$/2;0.9& E*& )*;%2.0& 23$'6& (-2.08
1.%.'6&G!&*4&73$)3&.%)*=.&,0*2.$%'&*4&23. 6!0/*#^'2$3%2'+#1#2%64 %(2$5.& '20(2.1$.'& 4*0& (''*)$(2$*%& +(,8
0.',$0(2*0?&)3($%&)*+,-./.'6&73.0.('&23. J*0& \.%=.-$(%& =$'*0=.0'6& $=.%2$4?$%1 ,$%1& $%)-;=.& 23.& ;'.& *4& 0.).%2& 4*;%=.0
*23.0&XY&1.%.'&1.%.0(2.&XX&20(%'4.0&>hP' 1.%.'&23(2&3(0<*0&,(23*1.%$)&+;2(2$*%' ,*,;-(2$*%'&*0&;%$e;.&$'*-(2.=&,*,;-(8
(%=& 27*& 0$<*'*+(-& >hP'& ;'.=& $%& +$2*8 3('& <.)*+.& 0.-(2$5.-?& '20($1324*07(0=6 2$*%'& 23(2& (0.& 1.%.2$)(--?& 3*+*1.8
)3*%=0$(-& ,0*2.$%& '?%23.'$'9Gc& \;2(2$*%' 7$23& 3;%=0.='& *4& =$'.('.8(''*)$(2.= %.*;'6&(%=&23.&;'.&*4&;%-$%#.=&+(0#.0'
$%&+$2*)3*%=0$(-&_hP&7.0.&S0'2&0.,*02.= 1.%.'& <.$%1& =$')*5.0.=& 230*;13&(& )*+8 A'*8)(--.= /!.+'#2*2+.-%+)1D&2*&(''$1%&=$48
$%& Gcaa6& (%=& +*0.& 23(%& XZQ& ,(23*1.%$) <$%(2$*%& *4& -$%#(1.6& ,*'$2$*%(-& )-*%$%16 4.0.%2&0.1$*%'&*4&23.&1.%*+.&*4&(%&(=8
,*$%2& +;2(2$*%'& (%=& 1.%*+$)& 0.(00(%1.8 (%=& )(%=$=(2.& 1.%.& (%(-?'.'9& ^?& )*%8 +$/.=& $%=$5$=;(-& 2*& ,(02$);-(0& '*;0).
+.%2'& 3(5.& <..%& '3*7%& 2*& ;%=.0-$.& ( 20('26&4*0&)*+,-./&20($2'6&';)3&('&,'*0$(8 ,*,;-(2$*%'9& :%& (==$2$*%6& (%=& 0.-.5(%2
%;+<.0&*4&+?*,(23$)&=$'*0=.0'&(%=&%.;8 '$'& (%=& (2*,$)& =.0+(2$2$'6& 23.'.& 20(=$8 2*& '.5.0(-& '2;=$.'& *%& ,'*0$('$'6& -$%#(1.
0*=.1.%.0(2$5.& =$'.('.'6& '*+.& *4& 73$)3 2$*%(-& (,,0*()3.'& 3(5.& <..%& -(01.-? =$'.e;$-$<0$;+&*<'.05.=&$%&(&'(+,-.&*4
'3*7&'#$%&+(%$4.'2(2$*%'6&$%)-;=$%1&-$,*8 ;%';)).''4;-&$%&+(,,$%1&1.%.'&$%T;.%)8 ;%0.-(2.=& (44.)2.=& (%=& %*0+(-& $%=$5$=8
+('6& (<%*0+(-& ,$1+.%2(2$*%& *0& .0?8 $%1& 23.& =$'.('.& 0$'#& *0& ,3.%*2?,.& <.8 ;(-'&)(%&(-'*&<.&;'.=&2*&S%.8+(,&(&=$'8
23.+(6&(%=&3?,*8&*0&3?,.020$)3*'$'9XQ&\$8 )(;'.&*4&-*7&'2(2$'2$)(-&,*7.0&(%=&*23.0 .('.&';').,2$<$-$2?&-*);'&$%&(&)(%=$=(2.
2*)3*%=0$(-& _hP& 3('& 23.& )(,()$2?& 2* 4()2*0'9XX6X!& M*+,-./& 20($2'& =*& %*2& =$'8 0.1$*%9
4*0+& (& +$/2;0.& *4& <*23& 7$-=82?,.& (%= ,-(?& '$+,-.& \.%=.-$(%& ,(22.0%'& *4& $%8 >.).%2-?6&3*7.5.06&(&)*%5.%2$*%(-&1.8
+;2(%2&_hP&7$23$%&(&).--6&-.(=$%1&2*&).-8 3.0$2(%).6&(-23*;13&1.%.'&=*&3(5.&(%&$%8 %.2$)'&(,,0*()3&3('&0.5.(-.=&4(')$%(2$%1
-;-(0& =?'4;%)2$*%& *%-?& 73.%& 23.& 0(2$*& *4 T;.%).6& (%=& )-*'.& 0.-(2$5.'& *4& (44.)2.= %.7&$%'$132&$%2*&23.&,(23*,3?'$*-*1?&*4
+;2(2.=&2*&7$-=82?,.&_hP&0.()3.'&(&).08 $%=$5$=;(-'&+(?& 3(5.&(%&$%)0.('.=&0$'#9 *%.& ,(02$);-(0& )*+,-./& 20($26& %(+.-?
6C
(2*,$)&=.0+(2$2$'9&E3$'&S%=$%1&.+(%(2.= $)$'+& )(%& *));0& ./)-;'$5.-?& $%& 1*%(=(- +(-.'&';05$5.&<.)(;'.&*4&23.&,0.'.%).&*4
40*+&23.&=$')*5.0?&23(2&23.&=$'*0=.0&$)38 2$'';.6& 0.4.00.=& 2*& ('& /+.($()* '+1(#2#1'9 '*+.& ).--'& $%& 73$)3& 23.& m& )30*+*'*+.
23?*'$'&5;-1(0$'&7('&=;.&2*&-*''8*484;%)8 M-$%$)(--?6& 23$'& +(?& ./,-($%& 0.);00.%).' 7$23*;2& 23.& +;2(2$*%& $'& ()2$5.& (%=& (<-.
2$*%& +;2(2$*%'& $%& 23.& 1.%.& .%)*=$%1 (+*%1& '$<-$%1'& *4& (;2*'*+(-& =*+$%(%2 2*& 4;%)2$*%9& J*0& +(-.'6& 23.'.& m8-$%#.=
23. '#$%& <(00$.0& ,0*2.$%& S-(110$%& A'.. =$'*0=.0'& ';)3& ('& 2;<.0*;'& ')-.0*'$'& *0 =*+$%(%2& =$'*0=.0'& (0.& 2?,$)(--?& -.23(-6
M3(,'9&GY&(%=&YFD9XY&E*&=.0+(2*-*1$'2'6 %.;0*S<0*+(2*'$'6& 73.%& %*%.& *4& 23. ;%-.''&(''*)$(2.=&7$23&(%&(<%*0+(-&#(0?8
23.& )-$%$)(-& (''*)$(2$*%& <.27..%& 23$' ,(0.%2'& 3('& (%?& )-$%$)(-& +(%$4.'2(2$*%' *2?,.& A.9196& b-$%.4.-2.0& '?%=0*+.K& YF6
)*%=$2$*%& (%=& (2*,$)& =.0+(2$2$'& $'& 7.-- (%=&1.%.&')0..%$%1&;'$%1&1.%*+$)&_hP mmqD& *0& $4& 23.& +;2(2$*%& *));0'& =;0$%1
#%*7%6& (%=& 23.& '(+.& -*''8*484;%)2$*% 40*+&,.0$,3.0(-&<-**=&'(+,-.'&?$.-='&%* .+<0?*%$)& =.5.-*,+.%29& J*0& m8-$%#.=
+;2(2$*%'&$%&S-(110$%&3(5.&';<'.e;.%2-? +;2(2$*%9& ".1+.%2(-&+*'($)$'+& 4*0& (;8 0.).''$5.&)*%=$2$*%'6&';)3&('&m8-$%#.=&0.8
<..%&'3*7%&2*&<.&(&+(H*0&';').,2$<$-$2? 2*'*+(-& =*+$%(%2& =$'*0=.0'& $'& 23*;132 ).''$5.& 3?,*3$=0*2$)& .)2*=.0+(-& =?',-(8
0$'#&4()2*0&4*0&(2*,$)&=.0+(2$2$'6&('&7.-- 2*& *));0& $%& *%.& *4& 27*& 7(?'@& .$23.0 '$(& A'..& M3(,9& GY!D6& 23.& )-$%$)(-& 4.(2;0.'
('& ('23+(& (''*)$(2.=& 7$23& (2*,$)& =.08 23.0.&$'&(&,*'2N?1*2$)&+;2(2$*%&7$23&23. (0.& .5$=.%2& $%& 3.+$N?1*;'& +(-.'& A73*
+(2$2$'6& <;2& %*2& ('23+(& (-*%.9Y& E3$' '#$%& *;2'$=.& 23.& '.1+.%2& (%=& 1.%*+$) 3(5.& *%-?& *%.& m& )30*+*'*+.D6& <;2& 4.8
';11.'2'&23(2&('23+(&$%&$%=$5$=;(-'&7$23 _hP&<.$%1&%*0+(-&A2?,.&GD6&*0&23.0.&$'&( +(-.'& +(?& '3*7& ';<2-.& (<%*0+(-$2$.'
(2*,$)& =.0+(2$2$'& +(?& <.& '.)*%=(0?& 2* 3.2.0*N?1*;'& 1.%*+$)& +;2(2$*%&23(2& $' =;.& 2*& +*'($)$'+& )(;'.=& <?& m8$%()2$5(8
(--.01$)& '.%'$2$N(2$*%6& 73$)3& =.5.-*,' 23.%& ./().0<(2.=& <?& -*''& *4& 3.2.0*N?8 2$*%6& ';)3& ('& =.)0.('.=& '7.(2$%1& *0& 0.8
<.)(;'.& *4& 23.&=.4.)2$5.&.,$=.0+(-&<(08 1*'$2?& 7$23$%& (& '.1+.%2& *0& (-*%1& 23. =;).=&3($0&$%&(0.('&*4&23.&'#$%&$%&73$)3
0$.0& 23(2& (--*7'& (--.01.%'& 2*& ,.%.20(2. -$%.'& *4& ^-(')3#*& A2?,.& XD9& E3$'& ,(22.0% 23.& %*0+(-& m& $'& '.-.)2$5.-?& $%()2$5(2.=9
23.& '#$%& 2*& +(#.& )*%2()2& 7$23& (%2$1.%8 3('&<..%&=.')0$<.=&$%&'.5.0(-&(;2*'*+(- E3.0.& (0.& G!GF& #%*7%& 1.%.'& *%& 23.& m
,0.'.%2$%1& ).--'9& :%=..=6& 20(%'+$''$*%8 =*+$%(%2& =$'*0=.0'6& $%)-;=$%1& _(0$.0 )30*+*'*+.6&(%=&+*'2&;%=.01*&0(%=*+
=$'.e;$-$<0$;+& 2.'2'& 3(5.& =.+*%'20(2.= =$'.('.6&k($-.?8k($-.?&=$'.('.&A'..&M3(,9 $%()2$5(2$*%& <;2& (& '+(--& ,.0).%2(1.& A(,8
(%& (''*)$(2$*%& <.27..%& S-(110$%& 1.%. YcD6&';,.0S)$(-&()2$%$)&,*0*#.0(2*'$'&A'.. ,0*/$+(2.-?& XF& 1.%.'& *%& m,6& $%)-;=$%1
+;2(2$*%'&(%=& ./20$%'$)&(2*,$)&=.0+(2$8 M3(,9& ZQD6& (%=& 2;<.0*;'& ')-.0*'$'& A'.. 23.& '2.0*$=& ';-4(2('.& 1.%.6& (%=& XL& 1.%.'
2$'&(''*)$(2.=&7$23&3$13&2*2(-&'.0;+&$+8 M3(,9&GYGD9 *%&meD&.')(,.&$%()2$5(2$*%9
+;%*1-*<;-$%&U&-.5.-'&(%=&)*%)*+$2(%2 E3.&-$%.'&*4&^-(')3#*&7.0.&=.-$%.(2.= >.5.02(%2& +*'($)$'+6& (-'*& #%*7%& ('
(--.01$)& '.%'$2$N(2$*%'9XZ& E3.'.& 0.).%2 *5.0&GQQ&?.(0'&(1*K&23.&,(22.0%&$'&(220$<8 .(-0%()*/!.!*-7!%(";6&0.4.0'&2*&1.%.2$)&)*08
=(2(&*%&23.&1.%.2$)'&*4&(2*,$)&=.0+(2$2$' ;2.=&2*&23.&-$%.'&*4&+$10(2$*%&(%=&,0*-$48 0.)2$*%& *4& (%& (<%*0+(-$2?& <?& ,0.'.%).
=.+*%'20(2.& 3*7& 23.& '2;=?& *4& (& i'$+8 .0(2$*%& *4& .,$=.0+(-& ).--'& =;0$%1& .+8 *4&(&'.)*%=&+;2(2$*%&23(2&.$23.0&)*00.)2'
,-.j& 1.%.2$)& =$'*0=.0& )(%& (-'*& ,0*5$=. <0?*1.%.'$'&A$9.96&23.&<(%='&*4&(<%*0+(- (& +;2(%2& 1.%.& *0& '$-.%).'& $29Xc6!Q& ";)3
%*5.-&$%'$132&$%2*&(&)*+,-./&20($29&\.%8 '#$%& 0.,0.'.%2&)-*%.'& *4& ).--'& )(00?$%1&( .5.%2'& 3(5.& <..%& =.')0$<.=& $%& (& 4.7
=.-$(%&=$'*0=.0'6&23.0.4*0.6&+(?&<.&;'.8 +;2(2$*%& $%& (& 1.%.& ./,0.''.=& $%& 23. 1.%.'& ./,0.''.=& $%& 23.& '#$%6& $%)-;=$%1
4;-& $%& 23.& +*-.);-(0& =$''.)2$*%& *4& +*0. '#$%D9Xa& P,(02& 40*+& '*+(2$)& +;2(2$*%' 23.&#.0(2$%&GY6&-(+$%$%&!!X6&(%=&)*--(1.%
)*+,-./&20($2'9XL ].$23.0& $%& =*+$%(%2& =$'*0=.0'6& ';)3& (' mC::&1.%.'&$%&=$44.0.%2&4*0+'&*4&U^&AJ$19
<;--*;'& $)323?*'$4*0+& .0?230*=.0+( a8FK&'..&M3(,9&LQD9&k*7.5.06&23.&)-$%$)(-
-.(=$%1& 2*& -$%.(0& .,$=.0+*-?2$)& 3?,.08 0.-.5(%).&*4&23.&)*%5.0'$*%&,0*).''&=.8
0!43%6%40 #.0(2*'$'& A'..& M3(,9& YFD6& *0& $%& )*%=$8 ,.%='& *%& '.5.0(-& 4()2*0'6& $%)-;=$%1& 23.
E3.& ,0.'.%).& *4& (& +$/.=& ,*,;-(2$*%& *4 2$*%'& $%5*-5$%1& +;2(2$*%'& $%& -.23(- %;+<.0&*4&).--'&$%5*-5.=6&3*7&+;)3&0.8
).--'& <.(0$%1& =$44.0.%2& 1.%.2$)& *0& )30*8 =*+$%(%2& 1.%.'& ';)3& ('& $%& \)M;%.8 5.0'(-&()2;(--?&*));0'6&(%=&(2&73(2&'2(1.
+*'*+(-&)3(0()2.0$'2$)'&-.(=$%1&2*&,3.8 P-<0$132&'?%=0*+.`6&+*'($)$'+&4*--*78 $%&-$4.&23.&0.5.0'$*%&2(#.'&,-().9
%*2?,$)&=$5.0'$2?&$'&0.4.00.=&2*&('&'+1(& $%1&^-(')3#*V'&-$%.'&$'&(-'*&'..%&$%&)30*8 P,(02& 40*+& +;2(2$*%'& $%& %;)-.(0
#2#1'9& E3.0.& (0.& '.5.0(-& =$44.0.%2& 2?,.' +*'*+(-& +*'($)$'+& (%=& 4;%)2$*%(- _hP6&+*'($)$'+&)(%&(-'*&<.&$%T;.%).=
*4& +*'($)$'+6& $%)-;=$%1& '$%1-.& 1.%.6 +*'($)$'+& A0(%=*+& m8)30*+*'*+. <?& .%5$0*%+.%2(-& 4()2*0'6& ';)3& ('& 5$0(-
)30*+*'*+(-6&4;%)2$*%(-6& (%=& 0.5.02(%2 $%()2$5(2$*%&230*;13&-?*%$N(2$*%D9&M30*8 _hP& '.e;.%).'& A0.20*20(%',*'*%'D& 23(2
+*'($)$'+9XF +*'*+(-& +*'($)$'+& 0.';-2'& 40*+& %*%8 )(%& <.& $%)*0,*0(2.=& $%2*& %;)-.(0& _hP6
\*'($)$'+& 4*0& (& '$%1-.& 1.%.6& 0.4.00.= =$'H;%)2$*%&.5.%2'&23(2&*));0&(42.0&4.02$-8 0.,-$)(2.6& (%=& ()2$5(2.& *0& '$-.%).& 1.%.'
2*&('&1+'(-#2*'+1(#2#1'6&$%=$)(2.'&(&+;2(8 $N(2$*%9& M-$%$)(--?6& 23$'& $'& 4*;%=& $%& 23. 230*;13& +.23?-(2$*%& *0& =.+.23?-(2$*%9
2$*%(-&.5.%2&*));00$%1&(42.0&4.02$-$N(2$*%9 -$%.(0& ,$1+.%2(0?& =$'*0=.0'& 3?,*+.-8 E3$'&,3.%*+.%*%&$'&#%*7%&('&!"#/!.!-#2
E3.&.(0-$.0&23$'&*));0'6&23.&+*0.&-$#.-?&$2 (%*'$'& *4& :2*& A'..& M3(,9& F!D& (%=& -$%.(0 '+1(#2#1'K& ';)3& .5.%2'& +(?& <.& $+,-$8
$'& 23.0.& 7$--& <.& )-$%$)(-& ./,0.''$*%& *4& ( (%=& 73*0-.=& 3?,.0,$1+.%2(2$*%9& :2& $' )(2.=& $%& 2;+*0$1.%.'$'& <;2& 3(5.& %*2
=$'.('.& ,3.%*2?,.& ('& 7.--& ('& $%5*-5.8 $+,*02(%2& 2*& ,*$%2& *;2& 23(2& 3?,*+.-8 <..%& (''*)$(2.=& 7$23& (%?& 1.%.2$)& '#$%
+.%2&*4&1*%(=(-&2$'';.&A1*%*'*+(-&+*8 (%*'$'& *4& :2*& $'& %*2& (& ',.)$S)& =$(1%*'$' =$'*0=.09
'($)$'+DK&4*0&./(+,-.6&73.%&$%=$5$=;(-' <;2&+(?&*));0&('&(&)*%'.e;.%).&*4&'.58
7$23& '.1+.%2(-& %.;0*S<0*+(2*'$'& ';<8 .0(-& =$44.0.%2& )30*+*'*+(-& (<%*0+(-$8
'.e;.%2-?& 3(5.& *44',0$%1& 7$23& 4;--8 2$.'& 23(2& ,.02;0<& 5(0$*;'& 1.%.'& 0.-.5(%2 #/%+#1#2%64
<-*7%& %.;0*S<0*+(2*'$'& A'..& M3(,9 2*& '#$%& ,$1+.%2(2$*%9& J;%)2$*%(-& +*'(8 _$'.('.& ,3.%*2?,.'& 0.T.)2& 23.& 0.';-2& *4
GYXD9& k*7.5.06& $%& 1.%.0(-6& $4& 23.& +;2(8 $)$'+&0.-(2.'&2*&1.%.'&*%&23.&m&)30*+*8 23.& $%2.0()2$*%& <.27..%& (& ,(02$);-(0
2$*%& *));0'& (42.0& 1.%.0(2$*%& *4& ).--' '*+.6&<.)(;'.&=;0$%1&.+<0?*%$)&=.5.-8 1.%*2?,.&(%=&23.&.%5$0*%+.%26&<;2&$2&$'
)*++$22.=&2*&1*%(=&4*0+(2$*%6&23.%&23. *,+.%2& $%& 4.+(-.'6& *%.& *4& 23.& m .5$=.%2&23(2&'*+.&5(0$(2$*%6&4*0&./(+,-.6
+*'($)$'+& 7$--& %*2& $%5*-5.& 23.& 1.0+8 )30*+*'*+.'6& .$23.0& 23.& +(2.0%(-& *0 $%& +*%*N?1*2$)& 27$%'6& $'& (220$<;2(<-.& 2*
-$%.6& (%=&23.& 0.,0*=;)2$5.& 0$'#&*4& 20(%'8 23.&,(2.0%(-6&$'&$%()2$5(2.=9&J*0&m8-$%#.= %.$23.09&P==$2$*%(-&$%T;.%).'&(2&23.&<$*8
+$''$*%& $'& %.1-$1$<-.9& M+.+1+'()* '+1(& =*+$%(%2& =$'*0=.0'6& ';)3& ('& 4*)(-& =.08 )3.+$)(-6& ).--;-(06& 2$'';.6& (%=& *01(%$'+
#2#1'& 0.4.0'& 2*& $%5*-5.+.%2& *4& <*23 +(-&3?,*,-('$(&Af*-2N&'?%=0*+.D&*0&$%8 -.5.-'&*));06&(%=&23.'.&(0.&0.4.00.=&2*&('
1*%(='& (%=& '*+(2$)& 2$'';.6& <;2& +*'(8 )*%2$%.%2$(&,$1+.%2$&A'..&M3(,9&F!D6&4.8 !"#/!.!-#2* "7!.+'!.(9!G& "$%1-.& 1.%.'& (0.
6E
2$*%6&73.0.&.44*02'&(0.&+(=.&2*&+(2)3&(2
23.&k[P8P6&8^6&(%=&8_>&-*)$9&\kM&)-(''
:& +*-.);-.'6& )*+,-./.=& 2*& ).02($%& ,.,8
2$=.'6& ()2& ('& ';<'20(2.'& 4*0& M_al& E8).--
()2$5(2$*%6& 73.0.('& \kM& )-(''& ::& +*-.8
);-.'& *%& 23.& ';04().& *4& (%2$1.%8,0.'.%28
$%1& ).--'& =$',-(?& (& 0(%1.& *4& ,.,2$=.'& 4*0
0.)*1%$2$*%& <?& 23.& E8).--& 0.).,2*0'& *4
M_Yl&E&3.-,.0&).--'&A'..&M3(,9&GQD9&\kM
+*-.);-.'6&23.0.4*0.6&(0.&).%20(-&2*&.44.)8
2$5.& (=(,2$5.& $++;%.& 0.',*%'.'9& M*%8
5.0'.-?6& 3*7.5.06& 1.%.2$)& (%=& .,$=.8
+$*-*1$)& =(2(& 3(5.& $+,-$)(2.=& 23.'.
+*-.);-.'&$%&23.&,(23*1.%.'$'&*4&5(0$*;'
(;2*$++;%.& (%=& )30*%$)& $%T(++(2*0?
=>?@<;,6A" $C;CBM:NM'JEG:<P<GJ'<N':N'<N=<;<=@:L'S<M?'NEN[8CBL<M\'D@NPM<EN:L'CI<=CBJELFG<G'K@LLEG:> =$'.('.'9& ".5.0(-& '#$%& =$'.('.'6& ';)3& ('
2?C'G@KDCPM'?:G'LEGG[EO[O@NPM<EN'J@M:M<ENG'EN'KEM?':LLCLCG'EO'M?C'MFIC'^"%%'PELL:WCN'WCNC-'@AB=CD=-'K@M ,'*0$('$'&A'..&M3(,9&GaD6&,'*0$(2$)&(0230*,8
GIENM:NCE@G'WCNCM<P'PEBBCPM<EN'EO'M?C'J@M:M<EN'<N'GEJC':BC:G'?:G'LC='ME'I:MP?CG'EO'NEBJ:L[:IIC:B<NW (23? A).%20(-& (%=& ,.0$,3.0(-D6& =.0+(2$2$'
GT<N'U:BC:G'S<M?<N'KL:PT'J:BTCB'E@ML<NCV'M?:M'=E'NEM'KL<GMCB>'U(BEJ'_ENTJ:N'0('CM':LA'$C;CBM:NM'JEG:[ 3.0,.2$4*0+$'6& ,.+,3$1;'6& 0.()2$5.& (08
<P<GJ'<N'CI<=CBJELFG<G'K@LLEG:'P:@GC='KF'J<MEM<P'WCNC'PEN;CBG<EN>'@$// 66AedZ-'Xbb9-'S<M?'ICBJ<GG<EN>V 230$2$'&'?%=0*+.&A'..&M3(,9&XQD6&(%=&^.38
v.2& =$'.('.& A'..& M3(,9& GLFD6& (--& '3*7& (%
(''*)$(2$*%& 7$23& $%3.0$2(%).& *4& ).02($%
%*2& '*-.-?& 0.',*%'$<-.& 4*0& .()3& '.,(0(2. )(%).0&';').,2$<$-$2?&*4&10(%=)3$-=0.%&*4 k[P&3(,-*2?,.'&A$9.96&23.0.&$'&(&3$13.0&$%8
4;%)2$*%&*4&(&).--9&f.%.'&+(?&)*--(<*0(2. $%=$5$=;(-'& 73*& 3(5.& <..%& ./,*'.=& 2* )$=.%).&*4&23.'.&)*%=$2$*%'&$%&$%=$5$=;(-'
$%& )$0);$2'6& <.& +*<$-.6& ./$'2& $%& ,-('+$=' =$.23?-'2$-<.'20*-6& <;2& 23$'& 3('& %*2& <..% (%=&4(+$-$.'&7$23&,(02$);-(0&k[P&(--.-.'D9
(%=& )?2*,-('+$)& *01(%.--.'6& (%=& )(%& <. ,0*5.=9& f.0+-$%.& .,$+;2(2$*%'6& 3*78 k*7.5.06&23.&+*-.);-(0&+.)3(%$'+'&<?
$+,*02.=& <?& %*%'./;(-& +.(%'& 40*+ .5.06& 3(5.& <..%& $=.%2$S.=& $%& *23.0& 3;8 73$)3&,*-?+*0,3$'+'&$%&k[P&+*-.);-.'
*23.0& *01(%$'+'& *0& ('& '?%23.2$)& ,0*=8 +(%&=$'.('.'6&';)3&('&)*-*0.)2(-&)(%).0' )*%4.0& ';').,2$<$-$2?& 2*& ).02($%& =$'*0=.0'
;)2'9& U5.%& ,0$*%& ,0*2.$%'& )(%& '$+;-(2. )3(0()2.0$N.=& <?& +$)0*'(2.--$2.& $%'2(<$-8 (0.& '2$--& ;%)-.(09& E3$'& '$2;(2$*%& $'& 4;023.0
'*+.&1.%.&,0*,.02$.'9&U,$1.%.2$)&.44.)2' $2?& (%=& 3?,.0+.23?-(2$*%& *4& 23.& I6?O )*+,-$)(2.=& <?& 23.& 4()2& 23(26& 4*0& +*'2
0.T.)2& )3.+$)(-& +*=$S)(2$*%'& 2*& _hP _hP& +$'+(2)3& 0.,($0& 1.%.6& (-23*;13 =$'.('.'6& $2& $'& ;%#%*7%& 73$)3& (;2*(%2$8
23(2&=*& %*2& (-2.0&_hP& '.e;.%).& <;2& =* 23.& 0$'#& *4& 20(%'1.%.0(2$*%(-& .,$1.%.2$) 1.%'&A,0.'.%2.=&<?&23.&=$'.('.8(''*)$(2.=
(-2.0& 23.& ,0*<(<$-$2?& *4& 1.%.& 20(%')0$,8 $%3.0$2(%).&*4&)(%).0&40*+&';)3&(&+;2(8 \kM&+*-.);-.'D&(0.&,0$+(0$-?&$%5*-5.=9
2$*%9&P%(-?'$'&*4&23.'.&)3(%1.'&$'&#%*7% 2$*%& $'& %*2& 7.--& .'2(<-$'3.=& (%=& ,0*<(8 J*0&+(%?&=$'.('.'6&23.&\kM&)-(''&(''*8
(' !"#/!.+'#219!X& U/(+,-.'& *4& +*=$S)(8 <-?& '+(--9& W5.0& 23.& )*;0'.& *4& (%& $%=$8 )$(2$*%& $'& 23.& +($%& 1.%.2$)& (''*)$(2$*%9
2$*%'& $%)-;=.& =$0.)2& )*5(-.%2& +*=$S)(8 5$=;(-V'& -$4.',(%6& .,$1.%.2$)& +;2(2$*%' h.5.023.-.''6&4*0&+*'2&*4&23.&\kM8(''*8
2$*%& *4& _hP& <?& +.23?-(2$*%& *4& )?8 +(?& *));0& +*0.& 40.e;.%2-?& 23(%& _hP )$(2.=&=$'.('.'6&$2&3('&<..%&=$4S);-2&2*&;%8
2*'$%.'& (%=& (-2.0(2$*%'& $%& ,0*2.$%'& 23(2 +;2(2$*%'6&(%=&$2&$'&./,.)2.=&23(26&*5.0 .e;$5*)(--?& =.2.0+$%.& 23.& ,0$+(0?& =$'8
<$%=& 2*& _hP9& ";)3& )3(%1.'& +(?& (44.)2 23.& %./2& =.)(=.6& 23.& 0*-.& *4& .,$1.%.2$) .('.80$'#&1.%.A'D6&*7$%1&2*&23.&./2.%=.=
_hP&()).''$<$-$2?&2*&-*)(-&20(%')0$,2$*%(- ,3.%*+.%(& $%& $%T;.%)$%1& ,3.%*2?,$) -$%#(1.& =$'.e;$-$<0$;+& $%& 23.& \kM& 0.8
)*+,-./.'& ('& 7.--& ('& $%T;.%)$%1& )30*8 5(0$(2$*%& 7$--& 10(=;(--?& <.)*+.& <.22.0 1$*%9& k*7.5.06&0.).%2& 1.%.2$)& (%=&4;%)8
+(2$%&'20;)2;0.&(2&0.1$*%(-&(%=&1.%*+.8 ;%=.0'2**=9!! 2$*%(-& '2;=$.'& ';,,*02& 23.& -*%183.-=& ('8
7$=.& -.5.-'6& 23;'& ,0*5$=$%1& (& -$%#& <.8 ';+,2$*%&23(2&)*++*%&\kM&)-(''&:&(%=
27..%& 1.%*+.& '20;)2;0.& (%=& 0.1;-(2$*% ::& (--.-.'& 23.+'.-5.'& (0.& 0.',*%'$<-.& 4*0
*4& 20(%')0$,2$*%9& :%=..=6& .,$1.%*+. 8%42!6!0/323)%*%2,'312%+#1' +(%?& =$'.('.& (''*)$(2$*%'6& ';)3& ('& 23.
(%(-?'$'&$'&%*7&<.$%1&)(00$.=&*;2&$%&,(08 .%4#34#'344!6%32%!1 k[P&)7L&(--.-.&$%&,'*0$('$'9
(--.-&7$23&1.%.&./,0.''$*%&2*&$=.%2$4?&1.8 k[P&+*-.);-.'&(0.&1-?)*,0*2.$%'&23(2&(0.
%*+.87$=.& +.23?-(2$*%& ,(22.0%'& (%= ./,0.''.=& *%& (-+*'2& (--& %;)-.(2.=& ).--'9
,0*S-.'&*4&(--&3;+(%&1.%.'9&J*0&./(+,-.6 E3.& k[P& 0.1$*%& $'& -*)(2.=& *%& 23.& '3*02 +#1#2%6'6!514#*%1+
23.0.&$'&)*%'$=.0(<-.&$%2.0$%=$5$=;(-&5(0$8 (0+&*4&)30*+*'*+.&L6&(2&L,XG6&0.4.00.= :%&XQQL6&23.&h(2$*%(-&"*)$.2?&*4&f.%.2$)
(2$*%&$%&)?2*'$%.&+.23?-(2$*%&*4&M,f&=$8 2*& ('& 23.& I?C9& E3.0.& (0.& 230..& )-(''$) M*;%'.-*0'& A322,@gg7779%'1)9*01D& =.8
%;)-.*2$=.'&7$23$%&23.&+(H*0&3$'2*)*+8 -*)$&(2&k[P&)-(''&:@&k[P8P6&8^6&(%=&8M76 S%.=&1.%.2$)&)*;%'.-$%1&('&i23.&,0*).''
,(2$<$-$2?& )*+,-./& A\kMD&0.1$*%& 1.%.'6 (%=&S5.&-*)$&(2&)-(''&::@&k[P8_>6&8_p6 *4&3.-,$%1&,.*,-.&;%=.0'2(%=&(%=&(=(,2
(-23*;13& 73.23.0& 23$'& 3('& (%?& <.(0$%1 8_R6&8_\6&(%=&8_W9&E3.&k[P&+*-.);-.' 2*&23.&+.=$)(-6&,'?)3*-*1$)(-&(%=&4(+$-8
*%&23.&./,0.''$*%&*4&'#$%&=$'*0=.0'&';)3 (0.& 3$13-?& ,*-?+*0,3$)6& 23.0.& <.$%1 $(-&$+,-$)(2$*%'&*4&1.%.2$)&)*%20$<;2$*%'
('&,'*0$('$'&0.+($%'&2*&<.&'..%9&P&4;023.0 +(%?& (--.-.'& (2& .()3& $%=$5$=;(-& -*);'9 2*& =$'.('.9j& f.%.2$)& )*;%'.-$%1& '3*;-=
<;2& ('& ?.2& ;%0.'*-5.=& $'';.& $'& 73.23.0 E3;'6& (--.-$)& 5(0$(2$*%& )*%20$<;2.'& 2*& =.8 $%)-;=.@&AGD&$%2.0,0.2(2$*%&*4&4(+$-?&(%=
23.0.&$'&3.0$2(<$-$2?&*4&.,$1.%.2$)&)3(0()8 S%$%1&(&;%$e;.&iS%1.0,0$%2j&4*0&.()3&,.08 +.=$)(-&3$'2*0$.'&2*&(''.''&23.&)3(%).&*4
2.0$'2$)'9& [$#.7$'.6&$2& $'& ;%)-.(0& 73.23.0 '*%V'& ).--'6& 73$)3& (--*7'& (%& $%=$5$=;(-V' =$'.('.&*));00.%).&*0&0.);00.%).K&AXD&.=8
.%5$0*%+.%2(--?&$%=;).=&)3(%1.'&$%&.,$8 $++;%.&'?'2.+&2*&=.S%.&73(2&$'&4*0.$1% ;)(2$*%&(<*;2&$%3.0$2(%).6&2.'2$%16&+(%8
1.%.2$)&'2(2;'6&(%=&3.%).&1.%.&20(%')0$,8 (%=&73(2&$'&'.-49&E3.&)-$%$)(-&'$1%$S)(%). (1.+.%26&,0.5.%2$*%6&0.'*;0).'6&(%=&0.8
2$*%&(%=&,3.%*2?,.6& )(%&<.& 20(%'+$22.= *4&23.&k[P&'?'2.+&$'&3$13-$132.=&$%&3;8 '.(0)3K& (%=& A!D& )*;%'.-$%1& 2*& ,0*+*2.
230*;13&+*0.&23(%&*%.&1.%.0(2$*%9&";)3 +(%& 2$'';.& 20(%',-(%2(2$*%6& .',.)$(--?& $% $%4*0+.=& )3*$).& (%=& (=(,2(2$*%& 2*& 23.
(& ,3.%*+.%*%& +$132& ())*;%2& 4*0& 23. #$=%.?& (%=& <*%.& +(00*7& 20(%',-(%2(8 0$'#&*0&)*%=$2$*%9!Y
6G
f.%.2$)&)*;%'.-$%1&$'&(%&$%2.10(-&,(02 4.)2.=&*0&.5.%&)(00?$%1&23.&(<%*0+(-&(-8 +$''$*%& .-.)20*%& +$)0*')*,?9& k*7.5.06
*4&23.&,0()2$).&*4&=.0+(2*-*1?9&W%).&23. -.-.6&<;2&3.&+(?&%*2&#%*7&23$'9 23.& $%20*=;)2$*%& *4& (& %;+<.0& *4& +*%*8
=$(1%*'$'&*4&(%&$%3.0$2.=&'#$%&=$'.('.&$' R0*1%*'$'& (%=& )*;%'.-$%1& 4*0& )*%=$8 )-*%(-&(%=&,*-?)-*%(-&(%2$<*=$.'&2*&5(0$8
.'2(<-$'3.=&(%=&23.&+*=.&*4&$%3.0$2(%). 2$*%'& ';)3& ('& ,'*0$('$'& $%& 73$)3& 23.& 1.8 *;'& <('.+.%2& +.+<0(%.& )*+,*%.%2'
$'& #%*7%6& .5.0?& =.0+(2*-*1$'2& '3*;-= %.2$)& <('$'& $'& )*+,-./& *0& '2$--& ;%)-.(0& $' =;0$%1&23.&+$=8GcaQ'&-.=&2*&23.&=.5.-*,8
<.&(<-.& 2*&(=5$'.& ,(2$.%2'&)*00.)2-?& (%= +*0.&=$4S);-2&A'..&M3(,9&GaD9&R.0'*%'&)(% +.%2& *4& $++;%*3$'2*)3.+$)(-& 2.'2'& 2*
(,,0*,0$(2.-?6& (-23*;13& (==$2$*%(-& ';,8 <.&(=5$'.=6&4*0&./(+,-.6&23(2&$4&<*23&,(08 3.-,&)*+,-.+.%2&;-20('20;)2;0(-&(%(-?'$'
,*02&40*+&',.)$(-$'2'&$%&+.=$)(-&1.%.2$)' .%2'& 3(5.& ,'*0$('$'6& 23.& ,0*<(<$-$2?& $'& LQ $%&.'2(<-$'3$%1&(%&());0(2.&=$(1%*'$'6&.'8
$'& *42.%& %.).''(0?9& f.%.2$)& )*;%'.-$%1 ,.0).%2& 2*& FZ& ,.0).%2& 23(2& (& )3$-=& 7$-- ,.)$(--?&$%&)('.'&*4&U^9!a&J.2(-&'#$%&<$*,8
+;'2& <.& <('.=& *%& (%& ;%=.0'2(%=$%1& *4 3(5.&,'*0$('$'K&$4&*%.&,(0.%2&(%=&(&)3$-=&*4 '$.'& (0.& 2(#.%& =;0$%1& 23.& +$=820$+.'2.09
1.%.2$)& ,0$%)$,-.'& (%=& *%& (& 4(+$-$(0$2? 23(2& ;%$*%& 3(5.& ,'*0$('$'6& 23.%& 23. J*0& =$'*0=.0'& ';)3& ('& U^6& 2.'2$%1& (2& GL
7$23& 23.& ;';(-& <.3(5$*0& *4& 3.0.=$2(0? )3(%).& $'& !Q& ,.0).%2& 23(2& (%*23.0& )3$-= 7..#'V& 1.'2(2$*%& $'& (,,0*,0$(2.9& k*78
(%=& )*%1.%$2(-& (<%*0+(-$2$.'9& :2& $'& (-'* 7$--& 3(5.& ,'*0$('$'K& (%=& $4& 27*& %*0+(- .5.06& 4*0& '*+.& 4*0+'& *4& $)323?*'$'6& 23.
$+,*02(%2&2*&<.&4(+$-$(0&7$23&23.&0(%1. ,(0.%2'&3(5.&,0*=;).=&(&)3$-=&7$23&,'*0$8 =$'.('.8=.S%$%1&'20;)2;0(-&,(23*-*1?&+(?
*4& )-$%$)(-& '.5.0$2?& *4& (& ,(02$);-(0& =$'8 ('$'6& 23.& ,0*<(<$-$2?& $'& GZ& ,.0).%2& 2*& XQ %*2&<.&.5$=.%2&(2&23$'&2$+.6&(%=&4.2(-&'#$%
.('.6&23.&'*)$(-&)*%'.e;.%).'&*4&23.&=$'8 ,.0).%2&4*0&(%*23.0&)3$-=&7$23&,'*0$('$'9!Z '(+,-$%1& +(?& %..=& 2*& <.& =.4.00.=& ;%2$-
*0=.06&23.&(5($-(<$-$2?&*4&23.0(,?&A$4&(%?D6 XQ&2*&XX&7..#'&*4&=.5.-*,+.%29
(%=& 23.& *,2$*%'& 4*0& +;2(2$*%& =.2.)2$*% h.5.023.-.''6&'$%).&23.&.(0-?&GccQ'6&('
(%=&,0.%(2(-&2.'2$%1&$%&';<'.e;.%2&,0.18 /$#1323*'.%3+1!4%4 23.& +*-.);-(0& <('$'& *4& (%& $%)0.('$%1
%(%)$.'&(2&0$'#&4*0&0.);00.%).&A*%.&;'.4;- :%&0.).%2&?.(0'6&23.0.&3('&<..%&)*%'$=.08 %;+<.0&*4&1.%*=.0+(2*'.'&3('&<..%&.-;8
'$2.&$'&322,@gg77791.%.2.'2'9)*+D9 (<-.&,0*10.''&$%&=.5.-*,$%1&,0.%(2(-&2.'28 )$=(2.=6& 4.2(-& '#$%& <$*,'$.'& 3(5.& 10(=;8
P& #.?& )*+,*%.%2& *4& 1.%.2$)& )*;%'.-8 $%1& 4*0& '.5.0.& $%3.0$2.=& '#$%& =$'*0=.0' (--?& <..%& ';,.0'.=.=& <?& _hP8<('.=& =$8
$%1&$'&2*&3.-,&,(0.%2'6&,(2$.%2'6&(%=&4(+$8 AJ$19& a8aD9& :%$2$(--?6& ;-20('20;)2;0(-& ./(+$8 (1%*'2$)&')0..%$%1&;'$%1&4.2(-&_hP&40*+
-$.'&#%*7&(<*;2&23.&0$'#'&*4&0.);00.%).&*0 %(2$*%& *4& 4.2(-& '#$%& <$*,'$.'& 7('& .'2(<8 (+%$*2$)& T;$=& ).--'& *0& '(+,-.'& *4& )3*0$8
20(%'+$''$*%& 4*0& (& ,(02$);-(0& )*%=$2$*%9 -$'3.=&$%&(&-$+$2.=&%;+<.0&*4&)*%=$2$*%'9 *%$)& 5$--$K& 23.& -(22.0& (0.& ;';(--?& 2(#.%& (2
E3$'&$%4*0+(2$*%&$'&%*2&*%-?&,0()2$)(-&<;2 :%&23.&-(2.&GcFQ'6&23.&S0'2&=$(1%*'2$)&./8 GQ&2*&GX&7..#'V&1.'2(2$*%&A$9.96&(2&23.&.%=
*42.%& 0.-$.5.'& 1;$-2& (%=& )(%& (--(?& 0(23.0 (+$%(2$*%& *4&4.2(-&'#$%&7('&0.,*02.=& 4*0 *4&23.&S0'2&20$+.'2.0D9!c6YQ&:%&(==$2$*%6&(=8
23(%& $%)0.('.& (%/$.2?9& J*0& ./(+,-.6& $2 .,$=.0+*-?2$)&3?,.0#.0(2*'$'&(%=&k.0-$2N 5(%).'&7$23&$%&5$20*&4.02$-$N(2$*%&(%=&.+8
+(?&%*2&<.&)-.(0&2*&23.&,.0'*%&23(2&3.&*0 H;%)2$*%(-& U^& A'..& M3(,9& LQD9!L6!F& E3.'. <0?*&+$)0*+(%$,;-(2$*%&3(5.& -.=& 2*&23.
'3.& )(%%*2& 20(%'+$2& 23.& 1$5.%& =$'*0=.09 $%$2$(-&<$*,'$.'&7.0.&,.04*0+.=&7$23&23. 4.('$<$-$2?&*4&.5.%&.(0-$.0&_hP8<('.=&('8
E3.&;%(44.)2.=&<0*23.0&*4&(&,(2$.%2&7$23 ($=&*4&(&4.2*')*,.&2*&5$';(-$N.&23.&4.2;'9 '.''+.%2& 230*;13& ,0.$+,-(%2(2$*%& 1.8
(%& m8-$%#.=& 0.).''$5.& =$'*0=.0& ';)3& (' k*7.5.06& 7$23& $+,0*5.+.%2'& $%& '*%*8 %.2$)& =$(1%*'$'6& (%& (,,0*()3& S0'2& ';)8
J(<0?& =$'.('.& A'..& M3(,9& G!LD6& m8-$%#.= 10(,3$)&$+(1$%16&<$*,'$.'&*4&4.2(-&'#$%&(0. ).''4;--?& (,,-$.=& $%& GccQ6& 4*0& 0$'#& *4
$)323?*'$'& A'..& M3(,9& YFD6& O$'#*228 %*7& 2(#.%& ;%=.0& ;-20('*;%=& 1;$=(%).9 0.);00.%).&*4&)?'2$)&S<0*'$'9YG&";)).''4;-
P-=0$)3& '?%=0*+.& A'..& M3(,9& GYYD6& *0 E3.& 4.2(-& '#$%& <$*,'?& '(+,-.'& *<2($%.= ,0.$+,-(%2(2$*%&2.'2$%1&3('&(-'*&<..%&0.8
\.%#.'& '?%=0*+.& A'..& M3(,9& aLD& %..= =;0$%1& 23.& .(0-?& GcaQ'& )*;-=& <.& ./(+8 ,*02.=& 4*0& '.5.0.& $%3.0$2.=& '#$%& =$'*08
%*2& 7*00?& (<*;2& 3$'& )3$-=0.%& <.$%1& (48 $%.=&*%-?&<?&-$132&+$)0*')*,?&(%=&20(%'8 =.0'9YX& E3$'& $'& -$#.-?& 2*& <.)*+.& (& +*0.
=>?@<;,6A6 !IM<ENG'OEB'IBCN:[
M:L'MCGM<NW'EO'<N?CB<MC='GT<N'=<GC:GCG>
8F'(CM:L'GT<N'K<EIGF-'?CBC'G?ESN':M
Xg' SCCTGc' WCGM:M<EN>' 7F' 6?EB<EN<P
;<LL<'G:JILC=':M'XX'SCCTGc'WCGM:M<EN>
OF' /BC<JIL:NM:M<EN' WCNCM<P' =<:WNE[
G<G>'3' G<NWLC' PCLL' <G' KC<NW' CRMB:PMC=
OBEJ':'XY[PCLL'CJKBFE'@G<NW':'G@P[
O 7 M<EN'I<ICMMC>
6!
,*,;-(06&23*;13&'2$--&2.)3%$)(--?&)3(--.%18 )$(-9& k*7.5.06& S%=$%1& (& 1.%.& 23.0(,? 5$0(-& 5.)2*0'9& [.%2$5$0(-& 5.)2*0'6& =.0$5.=
$%16&*,2$*%&4*0&'*+.&)*;,-.'6&$%&5$.7&*4 (1.%2&23(2&$'&)(,(<-.&*4&=$')0$+$%(2$%1&23. 40*+&'3*02&$%2.10(2$%1&'.e;.%).'&4*;%=&$%
0.).%2&(=5(%).'&$%&(+,-$4?$%1&23.&73*-. 7$-=82?,.& (%=& +;2(%2& (--.-.'6& 73$)3& )(% (& %;+<.0& *4& $++;%*=.S)$.%)?& 5$0;'.'6
1.%*+.& $%& '$%1-.& ).--'& (%=& 23.& (,,-$)(8 =$44.0& <?& ('& -$22-.& ('& *%.& <,& *4& _hP6& $' 3(5.&23.&(=5(%2(1.&*4&<.$%1&(<-.&2*&'2(<-?
2$*%&*4&+;-2$,-.&-$%#(1.&+(0#.0'&$%&(%&(,8 )3(--.%1$%1&6&;%2$-&0.).%2-?6&3('&0.';-2.=&$% 20(%'=;).&=$5$=$%1&(%=&%*%8=$5$=$%1&).--'6
,0*()3&2.0+.=&"%!#'")(.-(-#+.*/!.!-#2*7("& -$22-.&';)).''9&P&2?,$)(-&=*+$%(%28%.1(2$5. 7$23&)-*'.&2*&GQQ&,.0).%2&.4S)$.%)?&(%=&(2
)+-;"#./9Y!&J*0&'*+.&=$'*0=.0'6&(-2.0%(2$5. 1.%.2$)& '#$%& =$'.('.& $'& U^& '$+,-./& A'.. -*7&)*,?&%;+<.09&E3.'.&+(?&<.&23.&);08
-.''&$%5('$5.&+.23*='&*4&2.'2$%1&(0.&%*7 M3(,9&LQD6&)(;'.=&<?&+;2(2$*%'&$%&.$23.0 0.%2& 5.)2*0& *4& )3*$).6& <;2& 23.?& (-'*& 3(5.
(-'*& <.$%1& =.5.-*,.=6& $%)-;=$%1& (%(-?'$' *4& 23.& 1.%.'& .%)*=$%1& #.0(2$%'& Z& *0& GY9 ,*2.%2$(-& ,0*<-.+'& <.)(;'.& 23.$0& ,0.8
*4& 4.2(-& _hP& 40*+& 7$23$%& 23.& +(2.0%(- E3.&5('2&+(H*0$2?&*4&)('.'&(0.&)(;'.=&<? 4.00.=& $%2.10(2$*%& '$2.'& $%& 23.& 3;+(%& 1.8
)$0);-(2$*%& (%=& 23.& ;'.& *4& 230..8=$+.%8 =*+$%(%28%.1(2$5.& +$''.%'.& +;2(2$*%'6 %*+.& (0.& );00.%2-?& $--8=.S%.=& (%=& +(?
'$*%(-&;-20('*%*10(,3?9 )3(%1$%1&*%-?&(&'$%1-.&(+$%*&()$=6&)(00$.= -.(=& 2*& )*%).0%'& (<*;2& '(4.2?9& k*7.5.06
:%& 23.& );00.%2& (<'.%).& *4& .44.)2$5. $%&(&3.2.0*N?1*;'&+(%%.0&*%&*%.&(--.-.9YF 7$23&(&7$=.&5(0$.2?&*4&5.)2*0'& ;%=.0&=.8
20.(2+.%2&4*0&+(%?&3.0.=$2(0?&'#$%&=$'8 E3.& *23.0& 7(?& 23(2& 1.%.& 23.0(,?& (,8 5.-*,+.%2& (%=&2.'2$%16& $2& '3*;-=&<.)*+.
.('.'6& ,0.%(2(-& =$(1%*'$'& )(%& ,0*5$=. ,0*()3.'&)(%&<.&<0*(=-?&';<=$5$=.=&$'&()8 )-.(0&$%&4;2;0.&?.(0'&73$)3&5.)2*0'&(0.&.48
+;)3& (,,0.)$(2.=& $%4*0+(2$*%& 2*& )*;8 )*0=$%1& 2*& 73.23.0& 23.?& $%5*-5.& $%& 5$5* 4.)2$5.& (%=& '(4.& 4*0& 3;+(%& ;'.9& B-2$8
,-.'& (2& 0$'#& *4& 3(5$%1& (44.)2.=& )3$-=0.%6 *0& ./& 5$5*& '20(2.1$.'9YY& B'$%1& (%& $%& 5$5* +(2.-?6&-$#.&(--&%*5.-&23.0(,.;2$)'6&(%$+(-
(-23*;13& =.2($-.=& (%=& ';,,*02$5.& 1.8 (,,0*()36&23.&1.%.&23.0(,?&(1.%2&7*;-= 2.'2$%1&)(%&*%-?&()2&('&(&1;$=.&<.)(;'.&23.
%.2$)& )*;%'.-$%1& $'& (-'*& (& 5$2(-& .-.+.%2 <.&(,,-$.=&=$0.)2-?&2*&23.&,(2$.%2V'&'#$%&*0 3;+(%&1.%*+.&$'&e;$2.&=$44.0.%2&(%=&+(?
*4&(--&,0.%(2(-&2.'2$%1&,0*).=;0.'9 (%*23.0&2$'';.9&:%&(%&./&5$5*&(,,0*()36&( 0.()2& =$44.0.%2-?& 2*& 4*0.$1%& _hP& $%2.10(8
'#$%& <$*,'?& 7*;-=& <.& 2(#.%6& #.0(2$8 2$*%6&'*&23(2&,3('.&:6&::6&(%=&:::&3;+(%&20$8
%*)?2.'& *0& S<0*<-('2'& 7*;-=& <.& 10*7% (-'& *0& (=(,2(2$*%'& 23.0.*4& 7$--& ;-2$+(2.-?
+#1#'28#$3/, (%=&./,(%=.=&$%&);-2;0.6&20.(2.=&7$23&23. 3(5.& 2*& <.& ,.04*0+.=& 2*& =.2.0+$%.& .4S8
E3.& S.-=& *4& 1.%.& 23.0(,?& )(%& <.& ';<=$8 1.%.&23.0(,?&(1.%26&(%=&23.%&10(42.=&*%2* )()?& (%=& '(4.2?9& M;00.%2-?6& '+(--8')(-.
5$=.=&$%&=$44.0.%2&7(?'9YY&J$0'26&23.0.&(0. *0&$%H.)2.=&<()#&$%2*&23.&,(2$.%29&E3.&'#$% )-$%$)(-&20$(-'&(0.&*%1*$%1&4*0&H;%)2$*%(-&U^
(,,0*()3.'&($+.=&(2&20.(2+.%2&*4&0.).'8 $'&(&1**=&*01(%&'?'2.+&4*0&<*23&23.'.&(,8 (%=& (0.& ,-(%%.=& 4*0& (& %;+<.0& *4& *23.0
'$5.&1.%.2$)&=$'.('.'&73.0.&3*+*N?1*;' ,0*()3.'&<.)(;'.&$2&$'&5.0?&()).''$<-.&4*0 1.%*=.0+(2*'.'6&+($%-?&)*%).%20(2$%1&*%
*0&)*+,*;%=&3.2.0*N?1*;'&-*''8*484;%)8 $%&5$5*&(,,-$)(2$*%'9&:%&(==$2$*%6&23.&'#$% 23.&+*0.&'.5.0.&0.).''$5.&)*%=$2$*%'9
2$*%&+;2(2$*%'&-.(=&2*&)*+,-.2.&(<'.%). )(%& <.& 0.(=$-?& <$*,'$.=6& (%=& ).--& );-2;0. E0.(2+.%2&*4&=*+$%(%28%.1(2$5.&=$'*08
*0&)*+,-.2.&4;%)2$*%(-&(<-(2$*%&*4&(&5$2(- (%=& 0.810(42$%1& *4& #.0(2$%*)?2.'& )(%& <. =.0'&3('&0.).%2-?&'2(02.=&2*&0.).$5.&(&10.(2
,0*2.$%9&E3.'.&2?,.'&*4&=$'.('.'&(0.&(+.8 (=(,2.=&4*0&./&5$5*&1.%.&23.0(,?9 =.(-&*4&(22.%2$*%&7$23&23.&=$')*5.0?&*4&23.
%(<-.&2*&1.%.&0.,-().+.%2&23.0(,?6&(%=&$2 P&=$'(=5(%2(1.&*4&23.&'#$%&('&(&2(01.2 >hP& $%3$<$2$*%& ,(237(?& $%& 3;+(%'& (%=
$'& 23$'& 4*0+& *4& 1.%.& 23.0(,?& 23(2& 3(' *01(%&4*0&1.%.&23.0(,?&$'&23(2&$2&$'&(&<(08 23.& S%=$%1& 23(2& '+(--& '?%23.2$)& =*;<-.8
2.%=.=&2*&,0.=*+$%(2.&<.)(;'.&$2&$'&1.%8 0$.0& 2$'';.& 23(2& $'& 4;%=(+.%2(--?& =.8 '20(%=.=& >hP& +*-.);-.'& *4& Gc& 2*& XG& <,6
.0(--?& 2.)3%$)(--?& +*0.& 4.('$<-.& 23(% '$1%.=& 2*& ,0.5.%2& .%20?& *4& 4*0.$1%& %;8 #%*7%&('&17+%-*#.7#9#-+%;*BGA&A'$>hPD6&)(%
20.(2+.%2& *4& =*+$%(%2& 1.%.2$)& )*%=$8 )-.$)&()$=&$%&23.&4*0+&*4&5$0;'.'&*0&*23.0 .4S)$.%2-?& $%3$<$2& ./,0.''$*%& *4& 3;+(%
2$*%'9YZ& :%& =.0+(2*-*1?6& 23.'.& $%)-;=. ,(23*1.%$)& (1.%2'9& E3$'& $'& (%& $+,.=$8 1.%.'&$%&(&'.e;.%).8',.)$S)6&;'.08=.S%.=
=$'.('.'& ';)3& ('& -(+.--(0& $)323?*'$'& A'.. +.%2& 2*& $%& 5$5*& 1.%.& 23.0(,?& =.5.-*,8 +(%%.09YF6ZQ&E3.0.&$'&);00.%2-?&(&10.(2&=.(-
M3(,9&YFD6&73.0.&$%&+*'2&)('.'6&23.0.&$' +.%2& <;2& $'& %*2& $%';0+*;%2(<-.& =;.& 2* *4& (22.%2$*%& <.$%1& 4*);'.=& *%& =.5.-*,8
3.0.=$2(0?&(<'.%).&*4&20(%'1-;2(+$%('.8G =.5.-*,+.%2'& $%& -$,*'*+.& 2.)3%*-*1? +.%2&*4&'$>hP&$%3$<$2*0'&2*&'.-.)2$5.-?&'$8
()2$5$2?&$%&23.&*;2.0&.,$=.0+$'6&*0&23.&'.8 (%=& *23.0& +.23*='& 4*0& );2(%.*;'& +()8 -.%).&+;2(%2&(--.-.'&$%&=*+$%(%28%.1(2$5.
5.0.& k(--*,.(;8"$.+.%'& 4*0+& *4& 0.).'8 0*+*-.);-.&=.-$5.0?9Ya 1.%.2$)&=$'.('.'6&';)3&('&23.&#.0(2$%&=$'*08
'$5.& =?'20*,3$)& U^6&73.0.& 23.0.& $'&)*+8 f.%.& 0.,-().+.%2& 23.0(,?& '?'2.+' =.0'&U^&'$+,-./&*0&,()3?*%?)3$(&)*%1.%8
,-.2.& (<'.%).& *4& 2?,.& C::& )*--(1.% 3(5.&<..%&=.5.-*,.=&4*0&-(+.--(0&$)323?*8 $2(9& ^.)(;'.& '$>hP'& )(%& <.& =.'$1%.=
./,0.''$*%&=;.&2*&0.).''$5.&+;2(2$*%'9YL '$'&A'..&M3(,9&YFD&(%=&23.&0.).''$5.&4*0+' (1($%'2& +(%?& =$44.0.%2&+>hP&'.e;.%).'
E3.& '.)*%=& 4*0+& *4& 1.%.& 23.0(,?6& $% *4& U^& A'..& M3(,9& LQD6& (+*%1& *23.0& =$'8 7$23& .('.6& (%=& <.)(;'.& 23.?& (0.& +;)3
<0*(=& 2.0+'6& $'& ($+.=& (2& 20.(2+.%2& *4 .('.'9&E3.'.&+*'2-?&)*%'$'2&*4&./,0.''$%1 '+(--.0&+*-.);-.'&23(%&1.%.&23.0(,?&5.)8
=*+$%(%28%.1(2$5.& 1.%.2$)& =$'*0=.0'& (%= 23.& %*0+(-& )*+,-.+.%2(0?& _hP& .%)*=8 2*0'6& 23$'& %.76& 0(,$=-?& .5*-5$%1& 2.)3%*-8
$'& #%*7%& ('& /!.!* #.7#9#-#+.* -7!%(";9& k.0.6 $%1&23.&1.%.&*4&$%2.0.'2&40*+&'*+.&4*0+&*4 *1?& S2'& $%& <.27..%& '+(--& +*-.);-.& 23.08
23.0.& $'& (& )*+,-.2.-?& =$44.0.%2& 2?,.& *4 1.%.&23.0(,?&5.)2*0&(=(,2.=&40*+&5$0;'.' (,?& (%=& 1.%.& 23.0(,?9& :%& (& %;+<.0& *4
,0*<-.+& 2*& <.& 2()#-.=& <.)(;'.& 23.'.& ,(8 23(2& )(%& $%2.10(2.& 23.$0& 1.%*+.'& '2(<-? )('.'6& '$>hP'& 3(5.& <..%& $=.%2$S.=& 23(2
2$.%2'& (-0.(=?& )(00?& *%.& %*0+(-& )*,?& *4 $%2*& 23.& 3;+(%& 1.%*+.9& ";)3& 5$0(-& 5.)8 )(%& =$')0$+$%(2.& <.27..%& %*0+(-& (%=
23.&1.%.&(%=&*%.&+;2(2.=&)*,?9&E3.&=$'8 2*0'&)(%&23.0.4*0.&-.(=&2*&-*%182.0+&'2(<-. +;2(%2&(--.-.'&23(2&=$44.0&<?&*%-?&(&'$%1-.
.('.&0.';-2'&<.)(;'.&(%&(<%*0+(-&,0*2.$% ./,0.''$*%& *4& 23.& 0.,-().+.%2& 1.%.9Yc <,& +;2(2$*%9& :%& ,(0(--.-6& (& %;+<.0& *4
,0*=;)2& ,0*=;).=& <?& 23.& +;2(%2& (--.-.6 U(0-?&'2;=$.'&2.%=.=&2*&;'.&0.20*5$0(-&5.)8 10*;,'&(0.&7*0#$%1&*%&+.(%'& *4& =.-$5.08
=*+$%(%28%.1(2$5.&+;2(%2&,0*2.$%6&<$%=' 2*0'&*0&(=.%*8(''*)$(2.=&5$0(-&5.)2*0'6&<;2 $%1& '$>hP& 2*& '#$%& (%=& *23.0& *01(%& '?'8
2*&(%=&$%3$<$2'&23.&4;%)2$*%&*4&23.&%*0+(- 23.'.& 3(5.& (& %;+<.0& *4& -$+$2(2$*%'9& J*0 2.+'6& (%=& 23.0.& $'& );00.%2-?& +;)3& *,2$8
,0*2.$%&,0*=;).=&<?&23.&7$-=82?,.&(--.-.9 ./(+,-.6& 0.20*5$0;'.'& *%-?& 20(%'=;).& =$8 +$'+& (<*;2& 23.'.& =.5.-*,$%1& $%2*
:%&+(%?&)('.'6&$2&)(%&<.&'3*7%&40*+&23. 5$=$%1& ).--'& (%=& 23.0.4*0.& 4($-& 2*& 2(01.2 )-$%$)(--?&(,,-$)(<-.&(1.%2'&$%&23.&%.(0&4;8
'2;=?& *4& 0(0.& 0.).''$5.& 5(0$(%2'& *4& =*+$8 '2.+&).--'K&)*%'.e;.%2-?6&1.%.&./,0.''$*% 2;0.9& "*+.& '+(--& ')(-.& )-$%$)(-& 20$(-'& (0.
%(%2& =$'.('.'& 23(2& *%.& (--.-.& $'& ';4S)$.%2 $'&e;$)#-?&-*'2&=;.&2*&2;0%*5.0&*4&23.&.,$8 ;%=.0&7(?&(%=&*23.0'&(0.&,-(%%.=6&$%)-;=8
4*0& %*0+(-& '#$%& 4;%)2$*%6& (%=& '*& $4& ( =.0+$'& 230*;13& #.0(2$%*)?2.& =$44.0.%2$(8 $%1& 4*0& #.0(2$%$N$%1& =$'*0=.0'9& P& %;+<.0
+.(%'& )*;-=& <.& 4*;%=& *4& ',.)$S)(--?& $%8 2$*%9&J;023.0+*0.6&23.0.&3(5.&<..%&'*+. *4&(%$+(-&+*=.-'&3(5.&'3*7%&,*'$2$5.&0.8
3$<$2$%1& 23.& ./,0.''$*%& *4& 23.& +;2(%2& (-8 '(4.2?& $'';.'& $%& '+(--8')(-.& 3;+(%& 20$(-' ';-2'&7$23&-*7&2*/$)$2?6&$%)-;=$%1& $%&%*%8
6H -.-.6&23$'&'3*;-=&<.&23.0(,.;2$)(--?&<.%.S8 4*0& <*23& 0.20*5$0(-& (%=& (=.%*8(''*)$(2.= 3;+(%& ,0$+(2.'9& k*7.5.06& (2& -.('2& *%.
'2;=?& 3('& '3*7%& -$5.0& 2*/$)$2?& 7$23& ).08 =$(1%*'2$)'@& P& 3$'2*0$)(-& ,.0',.)2$5.9 !Y9 >.'2(& >f@& _.S%$%1& (%=& 0.=.S%$%1& 23.
2($%&'.e;.%).'&<;2&%*2&*23.0'9 C)#.*C7#'*A2-( &"(@Gaa6&XQQL ')*,.& (%=& 1*(-'& *4& 1.%.2$)& )*;%'.-$%19
GY9 k(,,-.& >@& m8)30*+*'*+.& $%()2$5(2$*%@ A'* K* I!$* M!.!-* C* F!'#.* I!$* M!.!-
>*-.& $%& '#$%& =$'.('.& ./,0.''$*%9& A2-( $*!@XLc6&XQQL&
>(!$#(-%*F0"")*()@GL6&XQQL YY9 k.%11.& B>@& R0*10.''& (%=& ,0*',.)2'& *4
7#,'$#(#$#16#4 XQ9 ")3(,$0(& Pk@& \$2*)3*%=0$(-& =$'.('.9 '#$%& 1.%.& 23.0(,?@& P& 2.%& ?.(0& 3$'2*0?9
6(.2!- &"#@FQ6&XQQL C)#.*D!%'(-+)*!&@GQF6&XQQZ
2?C'O@LL'BCOCBCNPC'L<GM'OEB':LL'P?:IMCBG' XL9 P%2*%(0(#$'& "U6& ^.)#+(%%& n"@& \.%=.8 YZ9 J.00(0$& "& .2& (-@& f.%.& 23.0(,?& $%& )*+<$8
<G':;:<L:KLC':M'SSS>=<WJ9>PEJ> -$(%& =$'*0=.0'& =.'.05.& +*0.& (22.%2$*%9 %(2$*%& 7$23& 2$'';.& .%1$%..0$%1& 2*& 20.(2
G(-*B!:*M!.!- %@XFF6&XQQL .,$=.0+*-?'$'& <;--*'(9& HU"!%-* J"#.* 8#+)
G9 k';& J& .2& (-@& E3.& BM"M& #%*7%& 1.%.'9 !X9 M(--$%(%&RP6&J.$%<.01&PR@&E3.&.+.01$%1 E7!% "@!LF6&XQQL
8#+#.,+%'(-#21 !!@GQ!L6&XQQL ')$.%).&*4&.,$1.%*+$)'9&?0'*I+)*M!.!-
X9 E'*%1(-$'&fn6&"$-5.0+(%&[\@&\*-.);-(0 $)@>cZ6&XQQL
DB
!"#$%&'()%#*+)*+#,*'--.%-)/+%0-'*1%
!" #$
!
!"#$%&'%#()%'#'*+"*,("*(-."*(
/*&(012$1#(0'34%/*'#
" ?9->!(;6(:@A>88(<>9A:5B5:=(
96!(!=-<>CD89:5;6
('*060:+/&/$)66%*:%9&F6.$0':$&.$%&+**).%
AE9):><(FG )*3& )3)1.+8%& +(('*%& 2%,10*,%,& )2%& 3+,;
.+*/.B&.$%-&+*.%2)/.&)*3&/)*&%)/$&+*L'%*/%
5669:>(96!(
#$$%&'(%$)(*)%+&,-'( .$%&():*+.'3%&)*3&.-1%&04&.$%+2&/0'*.%2;
1)2.9& #0:%.$%2B& .$%& +**).%& )*3& )3)1.+8%
9!9):5B>(
#../$,&0(,$(&1'(23,$ +(('*%&,-,.%(,&)/.&+*&,-*%2:-&.0&3%4%*3
.$%&$0,.&):)+*,.&+*4%/.+0*&)*3&/)*/%29&#$+,
500D65:=
<$4'%+(8H(0$&I"*
/$)1.%2& 3%,/2+D%,& .$%& 206%,& 04& .$%& +**).%
)*3& )3)1.+8%& +(('*%& 2%,10*,%& +*& :%*%2; 9:(9(C896A>(
J'**K(L"3 ).+*:&$0,.&3%4%*,%&(%/$)*+,(,&+*&,M+*9
!"'+'%(0/1%'%
AM%"#+"*'(?/*,'%+ 5669:>(500D6>(<>-);6->
C'$%,(-+"*,I G(('*%&(%/$)*+,(,&.$).&)2%&',%3&D-&.$%
$0,.& .0& +((%3+).%6-& 3%4%*3& +.,%64& )2%& 2%;
#$%&$'()*&+(('*%&,-,.%(&+,&/0(12+,%3 4%22%3&.0&),&!""#$%&!''("!$)9&#$%,%&+*/6'3%
04& .50& 3+,.+*/.& 4'*/.+0*)6& 1)2.,7& +**).% 1$-,+/)6&D)22+%2,&,'/$&),&.$%&,M+*&)*3&('; 5**/+'("331*'(%'#O$*#'#(/%'
)*3& )3)1.+8%9& #$%,%& .50& /0(10*%*., /0,)6& %1+.$%6+'(K& ,06'D6%& 4)/.02,& ,'/$& ),
$)8%&3+44%2%*.&.-1%,&04&2%/0:*+.+0*&2%/%1; 1#'&(4K(+M'(M$#+(+$("33'&"/+'IK(
/0(16%(%*.B& )*.+(+/20D+)6& 1%1.+3%,B& /$%; &'N'*&("+#'INP
.02,&)*3&3+44%2&+*&.$%&,1%%3&+*&5$+/$&.$%- (0M+*%,B&)*3&/-.0M+*%,K&)*3&/%66,B&+*/6'3;
2%,10*3& .0& )& 10.%*.+)6& .$2%).& .0& .$%& $0,. &'+'%3"*'(+M'(Q1/I"+K(/*&(Q1/*+"+K($N(
+*:&(0*0/-.%,N()/201$):%,B&CA,B&*).'2)6
<=+:9& >?;>@9& A%66,& 04& .$%& +**).%& +(('*% M+66%2& /%66,&<EO&/%66,@B& )*3& 106-(021$0*'; 3/*K(/&/O+"R'("331*'(%'#O$*#'#P
,-,.%(B& +*/6'3+*:& ()/201$):%,& )*3& 3%*; /6%)2&6%'M0/-.%,&<PQE,@&<=+:9&>?;!@9 /%'(#M$%+(I"R'&P
32+.+/& /%66,& <CA,@B&',%& 1)..%2*& 2%/0:*+.+0*
M/R'(*$(3'3$%KP
2%/%1.02,& %*/03%3& 3+2%/.6-& D-& .$%& :%2(;
6+*%& CEFB& 2%,10*3& .0& D+0/$%(+/)6& ,.2'/; )MK#"2/I(/*&(AM'3"2/I(?/%%"'%#F "*2I1&'(OMK#"2/I(4/%%"'%#(S#."*(/*&(
.'2%,& /0((0*6-& ,$)2%3& D-& )& 8)2+%.-& 04 312$#/I('O"+M'I"/TP
P$-,+/)6& ,.2'/.'2%,& 12%8%*.& (0,.& 1).$0;
3+44%2%*.& 1).$0:%*,B&)*3& %6+/+.&)& 2)1+3&2%; :%*,& )*3& %*8+20*(%*.)6& .0R+*,& 420( "*2I1&'(#$I14I'(N/2+$%#(#12M(/#(2$3@
,10*,%&):)+*,.&.$%,%&1).$0:%*,B&)6.$0':$ $)2(+*:&.$%&$0,.9&#$%&,M+*&)*3&.$%&%1+.$%; OI'3'*+U(/*+"3"2%$4"/I(O'O+"&'#U(2M'@
*0&6),.+*:&+(('*+.-&+,&:%*%2).%39&G*&/0*; 6+)6& 6+*+*:& 04& .$%& 2%,1+2).02-B& :),.20+*.%,.+; 3$."*'#U(/*&(2K+$."*'#P
.2),.B& /%66,& 04& .$%& )3)1.+8%& +(('*%& ,-,; *)6B& )*3& .$%& :%*+.0'2+*)2-& .2)/.,& 1208+3% "*2I1&'(2'II#(#12M(/#(3$*$2K+'#V3/2@
.%(B& #& )*3& H& 6-(1$0/-.%,B& D%)2& ,1%/+I/ 1$-,+/)6&D)22+%2,&D%.5%%*&.$%&$0,.&)*3&.$% %$OM/,'#U(&'*&%"+"2(2'II#U(*/+1%/I(."II'%(
)*.+:%*& 2%/%1.02,& %*/03%3& D-& 2%)22)*:%3 %R.%2*)6& 502639& SM+*B& 0*/%& .$0':$.& .0& D% 2'II#U(/*&(O$IK3$%OM$*12I'/%(I'1.$@
:%*%,B&)*3&+*&/0(1)2+,0*&.0&.$%&+**).%&2%; )*&+*%2.&,.2'/.'2%B&16)-,&)&8+.)6&206%&+*&120; 2K+'#H
,10*,%B& )3)1.+8%& +(('*+.-& 3%8%601, .%/.+*:&.$%&+*3+8+3')6&420(&.$%&%R.%2*)6&%*; 9&/O+"R'("331*'(%'#O$*#'#
(02%& ,6056-9& F& '*+J'%& 4%).'2%& 04& .$% 8+20*(%*.9& #$%& %1+3%2(+,& +(1%3%,&1%*%;
)3)1.+8%&+(('*%&2%,10*,%&+,&+.,&)D+6+.-&.0 M/R'(3'3$%KP
.2).+0*& 04& (+/20D+)6& 02:)*+,(,B& /$%(+/)6
:%*%2).%& )*3& 2%.)+*& (%(02-K& .$',B& +.&$), +22+.)*.,B& )*3& .0R+*,K& )D,02D,& )*3& D60/M, M/R'(#O'2"W2"+KP
.$%& /)1)D+6+.-& 04& 1208+3+*:& )& (02%& 2)1+3 ,06)2& )*3& +0*+T%3& 2)3+).+0*K& )*3& +*$+D+., /%'(I$*,@I/#+"*,P
2%,10*,%& +*& .$%& %8%*.& 04& ,'D,%J'%*.& +(; 5).%2&60,,&<,%%&A$)19&"U@9 "*(#."*U(/%'("*"+"/+'&(4K(&'*&%"+"2(/*+"@
,'*@O%'#'*+"*,(2'II#("*(+M'('O"&'%3"#(
)#$%"/#"#(R1I,/%"#Y(2M%$*"2(#+/4I'(+KO'H(01I+"@
0$I'21I'#($N(+M'(5**/+'( S8/*,'%M/*#(2'II#T(/*&(4K(&'%3/I(&'*@
OI'(I/%,'(#2/I"*,(OI/Q1'#($*( +M'(+%1*.U(/%3U(41+@ &%"+"2(2'II#P
+$2.#U( /*&( /4&$3'*H( 8'#"$*#( /%'( O$IK2K2I"2( /*& 5331*'(-K#+'3
/%'('X'21+'&(4K(:(IK3OM$2K+'#(/*&(
2$*Z1'*+(/*&(N$%3(,'$,%/OM"2(O/++'%*#H(:M"#(O/@ 45678969:;< <S%%& %=+:9& >?;!9>& +*& 0*; /*+"4$&"'#(O%$&12'&(4K(?(IK3OM$@
+"'*+([/#(2I'/%'&(4K(/2"+%'+"*VO#$%/I'*(/*&(1I+%/R"@ 6+*%&%3+.+0*K&,%%&)6,0&A$)19&VW@& X*%& 04 2K+'#H
$I'+(9(I",M+(2$34"*/+"$*(+%'/+3'*+(["+M"*(\([''.#H .$%&I2,.&+**).%&3%4%*,%&(%/$)*+,(,&.$).
!"
!"#$%&'()* *+,,-*.$*/(0*123%4567&88*!"9#4:&0;<*=:2>*!8&2?*(0%0*@"%*)0%9;*"@*A;0>
K6/#'((?%/#*/01+%0/ ,'24)/%,& +*& .$%& )D,%*/%& 04& ,1%/+I/& )*.+;
D03+%,& <,%%& %=+:9& >?;!9>& +*& 0*;6+*%& %3+;
BGH',I$ .+0*@9& G*& .$+,& 5)-B& .$%& $0,.& 3%4%*,%
+!&1GI'$ (%/$)*+,(&+,&)/.+8).%3&+((%3+).%6-&)4;
.%2& %*/0'*.%2+*:& .$%& 1).$0:%*& 5+.$0'.
.$%& U& .0& Z& 3)-,& 2%J'+2%3& 402& )*.+D03-
#$$!&'(H'J+G$J' *)!+&,-'(H'J+G$J' 1203'/.+0*9
@A#*-4'-&'+%
=**'&-%&0 !"#$%&'(')*+,'-.#*/01+%0/2
###3#4/5/%0'%0
###3#)-&6/.')'4'%0710+*'-0'%
###3#*/-)&'8/#+9:;/%#'%&/*(/4'-&/0
B-&6+;/%0
<"#=%5.-((-&+*:#*/01+%0/2
###3#):&+>'%/0
CDE#== ###3#)6/(+>'%/0
###3#%/?*+1/1&'4/0
HE
###3#/')+0-%+'40
IH#)/..
C-)*+16-;/
FE7GGE
J"#=%5.?/%)/#-4-1&'8/#'((?%/#*/01+%0/
###3#-)&'8-&'+%#+5#K#)/..0
K#)/..#*/01+%0/
LK6!M#K6<M#K*/;M#K6!NO
B#C>?9(DEF< :M'("**/+'("331*'(%'#O$*#'("*(#."*H(5*(%'#O$*#'(+$('X$,'*$1#(N/2+$%#U(#12M(/#(N$%'",*(O/+M$,'*#U(1I+%/R"$I'+(SDBT(%/&"/+"$*U(/*&(2M'3"2/I("%@
%"+/*+#U("**/+'("331*'(2'II#(],%/*1I$2K+'#U(3$*$*12I'/%(OM/,$2K+'#U(*/+1%/I(."II'%(S6LT(2'II#U(.'%/+"*$2K+'#^(3$1*+(&"NN'%'*+(+KO'#($N(%'#O$*#'#("*2I1&"*,Y(SFT(%'@
I'/#'($N(/*+"3"2%$4"/I(/,'*+#P(S_T("*&12+"$*($N("*Z/33/+$%K(3'&"/+$%#U(#12M(/#(2K+$."*'#U(2M'3$."*'#U(*'1%$O'O+"&'#U(/*&('"2$#/*$"&#P(/*&(S`T("*"+"/+"$*(/*&
3$&1I/+"$*($N(+M'(/&/O+"R'("331*'(%'#O$*#'H(!!A(a(&'%3/I(&'*&%"+"2(2'IIP(LA(a(.'%/+"*$2K+'P(8A(a(8/*,'%M/*#(2'IIP(0EA(55(a(3/b$%(M"#+$2$3O/+"4"I"+K(2$3OI'X
2I/##(55P(:MFU(:M_U(Fc(a(:(M'IO'%(FU(_U(:MFcP(:%',(a(:(%',1I/+$%K(2'IIH
!=
(%(D2)*%&+*,%2.+0*&)*3&102%&402(); 10,,%,,& 0*6-&0*%& :%*%9&#$%& $'()*& 12%; )*3& +(('*0,'112%,,+8%& (%.)D06+.%& 04
.+0*9&F32%*0(%3'66+*B&(%(D%2,&04&.$% /'2,02&120.%+*&$AFP>c&<$'()*&/).$%6+/+; .$%&>U;6+10R-:%*),%&1).$5)-9
A]^P&,'1%24)(+6-B& &(%6)*0/-.%;,.+(; 3+*&)*.+(+/20D+)6&120.%+*&>c@&+,&1203'/%3 F*0.$%2& :20'1& 04& D+060:+/& 2%,10*,%
'6).+*:&$02(0*%B&)*3&,%/2%.02-&6%'M0; D-& ,M+*& /%66,B& +*/6'3+*:& M%2).+*0/-.%,B (03+I%2,& 02+:+*).+*:& +*& M%2).+*0/-.%,
/-.%&120.%),%&+*$+D+.02&<)*.+6%'M0120; (),.&/%66,B&*%'.201$+6,B&)*3&3'/.)6&/%66,&04 )*3& 0.$%2&%1+3%2()6&/%66,&+,& 42%%& 2)3+/)6
.%),%B&$'()*&,%(+*)6&+*$+D+.02&G@&)2% %//2+*%&:6)*3,9&E%'.201$+6&120.%),%,&<+9%9B (06%/'6%,B&*05&:%*%2)66-&2%4%22%3&.0&),
)(0*:&12%8+0',6-&+3%*.+I%3&1%1.+3%, 120.%+*),%& V@& 120/%,,& $AFP>c& +*.0& .$% .%#4$!;%&-<)/%"&+1%4!%+9&#$%,%&+*/6'3%&.$%
5$0,%&)*.+(+/20D+)6&)/.+8+.+%,&5%2%&3+,; %44%/.02& (06%/'6%&``;VZB&5$+/$&16)-,&)* ,'1%20R+3%&2)3+/)6&<X! \@B&$-320:%*&1%2;
/08%2%3&6).%29 +(102.)*.&206%&+*&/'.)*%0',&$0,.&3%4%*,% 0R+3%& <a!X!@B& .$%& $-320R-6& 2)3+/)6
;C%4%*,+*,& )2%& /-,.%+*%;2+/$& /).+0*+/ D%/)',%& 04& +.,& 120*0'*/%3& )*.+D)/.%;
605;(06%/'6)2;5%+:$.& )*.+(+/20D+)6& 1%1; 2+)6BdB>?& )*.+4'*:)6B>>& )*3& )*.+8+2)6>!B>V& )/; #$%,%& 2)3+/)6,& )2%& :%*%2)66-& 8+%5%3& ),
.+3%,9&#$%&I2,.&$'()*& ;3%4%*,+*B&aHC;>B .+8+.+%,9& ``;VZ& 4'2.$%2& /0*.2+D'.%,& .0& +*; 3)*:%20',6-& 2%)/.+8%& %*.+.+%,& .$2%).%*;
5),& +,06).%3& 420(& $'()*& $%(0I6.2).% *).%& +(('*+.-& D-& )..2)/.+*:& (),.& /%66, +*:& .$%& +*.%:2+.-& 04& ()*-& .+,,'%,9& #$%
0D.)+*%3&420(&)&1).+%*.&5+.$&%*3;,.):%&2%; )*3& *%'.201$+6,& 8+)& 402(-6& 1%1.+3%& 2%; ,M+*& +,& 1)2.+/'6)26-& ).& 2+,M& D%/)',%& +.& +,
*)6& 3+,%),%9& G.& +,& /0*,.+.'.+8%6-& %R12%,,%3 /%1.02\6+M%& >& )*3& D-& +*3'/+*:& (%3+).02 %R10,%3&.0&0R-:%*&420(&D0.$&+*,+3%&)*3
+*&.$%&%1+3%2(+,&)*3&+,&*0.&.2)*,/2+1.+0*; 2%6%),%& 420(& .$%& 6)..%2& /%66,& 8+)& )& ]& 120; 0'.,+3%&)*3&D%/)',%&04&.$%&)/.+8).+0*&04
)66-& 2%:'6).%3& D-& +*L)(().02-& ):%*.,9 .%+*\3%1%*3%*.B&+(('*0:60D'6+*&e&<G:e@\ 0R-:%*&D-&6+:$.&<,%%&A$)1,9&cc&)*3&cd@9
aHC;>& $),& )*.+(+/20D+)6& )/.+8+.-& ):)+*,. +*3%1%*3%*.& (%/$)*+,(9>"& G.& $),& *05 =2%%&2)3+/)6,&120D)D6-& /0*.2+D'.%& .0& ,0;
]2)(;*%:).+8%& D)/.%2+)& )*3& )11%)2,& .0 D%%*& ,$05*& .$).& ``;VZ& +,& ,%/2%.%3& +*.0 6)2&3)():%&)*3&1$0.0):+*:&04&.$%&,M+*9
16)-&)&206%&+*&M%2).+*0/-.%&3+44%2%*.+).+0*9 $'()*& ,5%).B& 5$%2%& +.& +,& /6%)8%3& D-& ) a05%8%2B& /%2.)+*& 2%)/.+8%& 0R-:%*& ,1%;
F&,%/0*3&$'()*& ;3%4%*,+*B&aHC;!B&5), ,%2+*%& 120.%),%\3%1%*3%*.& (%/$)*+,( /+%,&$)8%&10.%*.&+*L)(().+0*;+*3'/+*:
3+,/08%2%3&+*&%R.2)/.,&04&6%,+0*,&420(&1,0; +*.0& +.,& 1%1.+3%,& ^O;V>& 02& OS;V?9& G*.%2; 1201%2.+%,&<%9:9B&42%%&0R-:%*&2)3+/)6,@&),
2+),+,&1).+%*.,9Z&Y*6+M%&aHC;>&%R12%,,+0*B %,.+*:6-B& .$%,%& /0(10*%*.,& 3+,16)-& )* 5%66& ),& +(('*0(03'6).02-& 1201%2.+%,
aHC;!& %R12%,,+0*& +,& +*3'/+D6%& D-& (+; %8%*& (02%& 10.%*.& )*.+(+/20D+)6& )/.+8+.- <%9:9B& EX@B& )*3& .$',& 1208+3%& )*& +(102;
/20D%,B& +*/6'3+*:& *+%(,-'-"#+& #%.(/!"-+#B .$)*&+*.)/.&``;VZ9>U .)*.& $0,.& 3%4%*,%& (%/$)*+,(& ):)+*,.
0$#12)3-4-44(+& #(.%(+B& )*3& 5#",!,#& #36!7 G*& ).01+/& 3%2().+.+,& <,%%& A$)19& >"@B (+/20D+)6& +*8),+0*9& =02& 3+,/',,+0*& 04
4#"+9Z&E0.&0*6-&/)*&(+/20D%,&,.+('6).%&%R; ``;VZ& +,& 305*2%:'6).%3B& 120D)D6-& 3'% .$%,%&(06%/'6%,B&.$%&2%)3%2&+,&2%4%22%3&.0
12%,,+0*&04&aHC;!B&D'.&120;+*L)(().02- .0& .$%& %44%/.& 04& .$%& #!& /-.0M+*%,& G`;" .$%&2%8+%5&D-&H+/M%2,&)*3&F.$)29>c
/-.0M+*%,&,'/$&),&.'(02&*%/20,+,&4)/.02; )*3& G`;>VB& 5$+/$& 2%*3%2,& ).01+/& ,M+*
<#E=; & )*3& +*.%26%'M+*& >& <G`;>@& /)*& )6,0 (02%& ,',/%1.+D6%& .0& ,M+*& +*4%/.+0*, 7*;;9?:(?945C:#;#5:(?9497;5?2 a05
+*3'/%& aHC;!& .2)*,/2+1.+0*& +*& M%2).+*0; 5+.$B&402&%R)(16%B&09&#(.%(+B&8)//+*+)&8+; 30&.$%&/%66,&04&.$%&+**).%&+(('*%&,-,.%(
/-.%,9Z& b$%*&.%,.%3&402& )*.+(+/20D+)6& )/; 2',&<%/T%()&8)//+*).'(@B&02&$%21%,&,+(; 2%/0:*+T%& 402%+:*& 1).$0:%*,g& X*%& 5)-
.+8+.-B& aHC;!& ,$05%3& %44%/.+8%& )/.+8+.- 16%R&8+2',&<%/T%()&$%21%.+/'(@9>?B>!B>V .$).& 1).$0:%*,& /)*& D%& 2%/0:*+T%3& )*3
):)+*,.& ]2)(;*%:).+8%& D)/.%2+)& ,'/$& ), F*0.$%2&+(102.)*.&$'()*&)*.+(+/20; 3%,.20-%3&D-&.$%&+**).%&+(('*%&,-,.%(
8+42%.!42!#& 4-3!& )*3& *9& #%.(/!"-+#& D'.& *0. D+)6& 1%1.+3%& $),& *05& D%%*& +3%*.+I%3B +,& 8+)& 2%/%1.02,& 0*& 1$):0/-.+/& /%66,9& Y*;
):)+*,.&]2)(;10,+.+8%&D)/.%2+)&,'/$&),&09 1,02+),+*& <S>??FZ@9>W& G.& +,& ,%/2%.%3& 12%; 6+M%& )3)1.+8%& +(('*+.-B& .$%& +**).%& +(;
#(.%(+9Z& F& .$+23& ;3%4%*,+*B& aHC;VB& $), 30(+*)*.6-& D-& M%2).+*0/-.%,& )*3& 16)-, ('*%& 2%,10*,%& 2%6+%,& 0*& )& 2%6).+8%6-
*05& D%%*& +,06).%3& )*3& /$)2)/.%2+T%39 )& ()f02& 206%& +*& M+66+*:& .$%& /0((0*& :'. ,()66& ,%.& 04& :%2(6+*%;%*/03%3& 2%/%1.02,
A0*.)/.& 5+.$& #E=; & )*3& 5+.$& D)/.%2+) D)/.%2+'(& 89& 4-3!9& G*& 4)/.B& +*& 8+80& .2%).; .$).& 2%/0:*+T%& /0*,%28%3& (06%/'6)2& 1).;
5),& 40'*3& .0& +*3'/%& aHC;V& (%,,%*:%2 (%*.&04&$'()*&,M+*&5+.$&)*.+;1,02+),+* .%2*,&.$).&)2%&,$)2%3&D-&)&6)2:%&:20'1&04
^EF&%R12%,,+0*&+*&M%2).+*0/-.%,9&G*&)33+; )*.+D03+%,&2%,'6.,&+*&.$%&(),,+8%&:205.$ 1).$0:%*,9& #$%,%& )2%& ',')66-& (06%/'6)2
.+0*B& aHC;V& 3%(0*,.2).%3& 10.%*.& )*.+; 04&89&4-3!9>W ,.2'/.'2%,&2%J'+2%3&402&,'28+8)6&04&.$%&(+;
(+/20D+)6& )/.+8+.-& ):)+*,.& 09& #(.%(+& )*3 /20D%,& )*3& .$%2%402%& )2%& *0.& ,'Df%/.& .0
8)*/0(-/+*;2%,+,.)*.&8"$%.-4-44(+&:#%4!('9 5;L9?(69@#*;5?2 X.$%2& ,%/2%.%3& 120; ,%6%/.+8%&12%,,'2%9&G*&)33+.+0*B&1).$0:%*;
#$%2%402%B& aHC;V& +,& )(0*:& .$%& I2,. .%+*& (%3+).02,& .$).& /)*& D%& ,-*.$%,+T%3 ),,0/+).%3&(06%/'6)2&1)..%2*,&)2%&,1%/+I/
$'()*& ;3%4%*,+*,& +*& ,M+*& .0& 3%(0*; )*3&2%6%),%3&420(&M%2).+*0/-.%,&)*3&.$). .0&(+/20D%,&)*3&)2%&*0.&%R12%,,%3&+*&.$%
,.2).%& %44%/.+8%& )*.+(+/20D+)6& )/.+8+.- ()-& 16)-& )& 206%& +*& $0,.& 3%4%*,%& )2%& .$% $0,.& ,-,.%(9& #$%2%402%B& .$%& +**).%& +(;
):)+*,.&]2)(;10,+.+8%&D)/.%2+)9&#$%&60/)6; /0(16%(%*.& /0(10*%*.,& AV& )*3& 4)/.02 ('*%&,-,.%(&$),&(),.%2%3&)&/6%8%2&5)-
+T).+0*& 04& $'()*& ;3%4%*,+*,& .0& .$% H9&O%2).+*0/-.%,&)2%&)(0*:&.$%&/%66,&.$). .0& 3+,.+*:'+,$& D%.5%%*& ,%64& )*3& *0*,%64
0'.%2&6)-%2&04&.$%&,M+*&)*3&.$%&4)/.&.$% ,-*.$%,+T%& %+/0,)*0+3,B& )*& %*,%(D6%& 04 )*3& 2%6)-,& .$+,& (%,,):%& .0& .$%& )3)1.+8%
;3%4%*,+*,& $)8%& )*.+(+/20D+)6& )/.+8+.- 6+1+3& (%3+).02,& 2%:'6).+*:& +*L)(().02- +(('*%&,-,.%(9
):)+*,.& )& 8)2+%.-& 04& (+/20D%,& ,'::%,. )*3& +(('*060:+/& 2%)/.+0*,9& #$%-& /)* X4&M%-&+(102.)*/%&5),&.$%&3+,/08%2-
.$).& $'()*& ;3%4%*,+*,& )2%& )*& %,,%*.+)6 1203'/%& )*3& 2%6%),%& .$%& /-/600R-:%*),% 04& .$%& #066;6+M%& 2%/%1.02,& <#`^,@B& *)(%3
1)2.& 04& /'.)*%0',& +**).%& +(('*+.-9& ='2; 1203'/.& 120,.):6)*3+*& e!B& 5$+/$& $), )4.%2&.$%&=.-+-12!3#B&:%*%&5$0,%&120;
.$%2(02%B& %8+3%*/%& +*3+/).+*:& .$).& $'; D0.$&120;+*L)(().02-&)*3&+(('*0,'1; .%+*& 1203'/.B& #066B& 1)2.+/+1).%,& +*& +**).%
()*& ;3%4%*,+*,&)..2)/.&CA,&)*3&(%(; 12%,,+8%& 1201%2.+%,& )*3B& 5$%*& )/.+*:& 0* +(('*+.-& )*3& +*& 302,08%*.2)6& 3%8%601;
02-&#&/%66,&8+)&AA&/$%(0M+*%&2%/%1.02&W CA,B&120(0.%,&.$%&3%8%601(%*.&04&G`;"\ (%*.&+*&.$%&42'+.&L-9>dB!?&#$%&+(102.)*/%
<AA^W@c& 1208+3%,& )& 6+*M& D%.5%%*& .$%& +*; 30(+*).%3& .-1%& !& #;/%66& 2%,10*,%,9>Z 04B&,+:*)6+*:&+*&()(()6+)*&/%66,&5),
*).%&)*3&.$%&)3)1.+8%&+(('*+.-&+*&,M+*9 X.$%2& M%2).+*0/-.%;3%2+8%3& %+/0,)*0+3, /0*I2(%3&D-&.$%&3%(0*,.2).+0*&.$).&.$%
A).$%6+/+3+*,& )2%& /).+0*+/& 1%1.+3%, +*/6'3%& .$%& *%'.201$+6& /$%(0)..2)/.)*. .2)*,(%(D2)*%&6%'/+*%;2+/$&120.%+*&#`^"
5+.$&)&,.2'/.'2)66-&8)2+)D6%&)*.+(+/20D+)6 6%'M0.2+%*%&H"B&.$%&120;+*L)(().02-&>!; +,& +*8068%3& +*& 6+10106-,)//$)2+3%& <`PS@
30()+*& ).& .$%& A;.%2(+*',9& b$%2%),& +* 6+10R-:%*),%&1203'/.&>!<,@;$-320R-%+/0; 2%/0:*+.+0*9!>
()(()6,& 6+M%& 1+:,& 02& /)..6%& )& 8)2+%.-& 04 ,).%.2)%*0+/& )/+3B& )*3& >U;$-320R-%+/0; G*&)33+.+0*&.0&#`^,B&.$%2%&%R+,.&)&8)2+;
/).$%6+/+3+*&:%*%,&%R+,.,B&(%*&<)*3&(+/%@ ,).%.2)%*0+/& )/+3B& )*& )*.+;+*L)(().02- %.-& 04& 0.$%2& .2)*,(%(D2)*%& (06%/'6%,
!K
K+..P.'>/#*/)/1&+*0#-%4#6+0/5/%0/
E1V#GI$ 00WI$
FBX 40WI$
U.-;/..'%
B*+5'.'%#LYO
F'1+1*+&/'%0
ZY
=%5.?/%)/#-4-1&'8/#*/01+%0/ =((?%+(+4?.-&+*:#;/%/0
3#):&+>'%/#1*+4?)&'+%
3#)+P0&'(?.-&+*:#(+./)?./0
K'00?/#'%`?*:
3#-1+1&+0'0
3#)/..P(/4'-&/4#'((?%'&: 3#0/1&')#06+)>
3#6?(+*-.#'((?%'&: G'*/)&#-%&'(')*+,'-.#*/01+%0/
3#*/-)&'8/#+9:;/%#'%&/*(/4'-&/0
B#C>?9(DEFO :$II@I".'(%'2'O+$%#(S:8<#T(3'&"/+'("**/+'("331*'(%'#O$*#'("*(M$#+(&'N'*#'H(92+"R/+"$*($N(:8<#(4K(#O'2"W2(I",/*&#("*&12'#(SFT(2K+$."*'(%'I'/#'
/*&(2$@#+"31I/+$%K(3$I'21I'#(+M/+("*#+%12+(+M'(+KO'($N(/&/O+"R'("331*'(%'#O$*#'P(S_T(&"%'2+(/*+"3"2%$4"/I(%'#O$*#'P(/*&(S`T(+"##1'("*b1%KH(AOC(!69(a("331*$@
#+"31I/+$%K(2K+$#"*'@(/*&(,1/*"*'@%"2M(#'Q1'*2'#($N(!69P(&#<69(a(&$14I'@#+%/*&'&(<69P(8)-(a(I"O$O$IK#/22M/%"&'P(67@ ?(a(*12I'/%(N/2+$%( ?P(##<69(a(#"*@
,I'@#+%/*&'&(<69P(e(a(I",/*&(1*.*$[*H
.$).& ,%*,%& .$%& 12%,%*/%& 04& 1).$0:%*,9 1).$0:%*;),,0/+).%3& (06%/'6)2& 1)..%2*, .%*.&5+.$&.$%&206%&04&#`^,&+*&(03'6).+*:
#$%,%& +*/6'3%& .$%& .2+::%2+*:& 2%/%1.02, 12%,%*.& +*& )& 8)2+%.-& 04& D)/.%2+)B& 4'*:+B +*L)(().02-& 2%,10*,%,&8+)&/-.0M+*%&2%;
%R12%,,%3&0*&(-%60+3&/%66,&<#^eQ@&120; )*3&8+2',%,9&S%/0*3B&#`^,&)2%&%R12%,,%3 6%),%9& H%/)',%& .$%,%& /%66,& (+:2).%& +*.0
.%+*,B!U&.$%&4)(+6-&04&S+:6%/&(06%/'6%,B!W ).& ,+.%,& .$).& )2%& %R10,%3& .0& (+/20D+)6 ,+.%,& .$).& +*.%24)/%& 5+.$& .$%& %*8+20*;
)*3&)&:20'1&04&A;.-1%&6%/.+*&2%/%1.02,9!Z .$2%).,9&#$+23B&.$%&)/.+8).+0*&04&#`^,&+*; (%*.h6'*:B& ,M+*B& )*3& :'.h.$%& 60/).+0*
#$%&6)..%2&)2%&120(+*%*.6-&%R12%,,%3&0* 3'/%,& ,+:*)6+*:& 1).$5)-,& .$).B& 0*& .$% 04& #`^;%R12%,,+*:& /%66,& 50'63& ,+.').%
)*.+:%*;12%,%*.+*:& /%66,& <FPA,@& ),B& 402 0*%& $)*3B& ,.+('6).%& .$%& 1203'/.+0*& 04 .$%(& .0& 3%4%*3& ):)+*,.& +*8)3+*:& (+;
+*,.)*/%B& 3%/.+*;>& )*3& CA;SG]E& [CA; %44%/.02&(06%/'6%,&<2%)/.+8%&0R-:%*&,1%; /20D%,9& #`^& %R12%,,+0*& D-& )3+10/-.%,B
,1%/+I/& +*.%2/%66'6)2& )3$%,+0*& (06%/'6% /+%,B& EX@B& )*3B& 0*& .$%& 0.$%2B& 120(0.% +*.%,.+*)6&%1+.$%6+)6&/%66,B&)*3&3%2()6&%*;
V&<GAFQ;V@&:2)DD+*:&*0*+*.%:2+*_9&#$%- .$%& %R12%,,+0*& 04& /0;,.+('6).02-& (06%; 30.$%6+)6& /%66,& ,'1102.,& .$%& *0.+0*& .$).
)2%& )D6%& .0& (%3+).%& %4I/+%*.& D+*3+*:& 04 /'6%,& )*3& .$%& 2%6%),%& 04& /-.0M+*%,& )*3B #`^,&,%28%&)&,%*.+*%6&206%&5+.$&2%:)23&.0
(+/2002:)*+,(,& ,'/$& ),& -%),.& )*3& (-; ),& )& 2%,'6.B& .$%& )':(%*.).+0*& 04& .$% +*8)3+*:&(+/2002:)*+,(,9&#$%&2%:'6).+0*
/0D)/.%2+)B& 2%,1%/.+8%6-K& )/$+%8%& .$%+2 )3)1.+8%&2%,10*,%9&=0'2.$B&#`^,&3+2%/.6- 04&#`^&%R12%,,+0*&+,&/2+.+/)6&.0&.$%+2&206%
1$):0/-.0,+,K& )*3& +*3'/%& )/.+8).+0*& 04 )/.+8).%& $0,.& 3%4%*,%& (%/$)*+,(,& .$). +*& $0,.& 3%4%*,%B& -%.& 4%5& 4)/.02,& $)8%
,+:*)6+*:& 1).$5)-,& .$).& 2%,'6.& +*& .$% .$%*&/0(D).&.$%&402%+:*&+*8)3%29 D%%*& +3%*.+I%3& .$).& (03'6).%& .$+,& 120;
().'2).+0*&04&1$):0,0(%,&),&5%66&),&+* #`^,& 5%2%& +*+.+)66-& 40'*3& .0& D%& %R; /%,,9& G`;"& )/.,& .0& 305*2%:'6).%& #`^& %R;
.$%& 1203'/.+0*& 04& 2%)/.+8%& 0R-:%*& )*3 12%,,%3&+*&)66&6-(1$0+3&.+,,'%,&D'.&5%2% 12%,,+0*BV!&5$+/$&,'::%,.,&.$).&#&$%61%2
*+.20:%*&3%2+8).+8%,9 (0,.& $+:$6-& %R12%,,%3& +*& 1%2+1$%2)6 !& <#$!@& )3)1.+8%& +(('*%& 2%,10*,%,
Q%(D%2,&04&.$%&#^eQ&120.%+*&4)(+6- D6003&6%'M0/-.%,B&+*/6'3+*:&(0*0/-.%,B (+:$.&+*$+D+.&#`^&)/.+8).+0*9
4'*/.+0*&),&)(16+I%2,&04&+**).%&2%,10*,%,9 H& /%66,B& #& /%66,B& :2)*'60/-.%,B& )*3& CA,9 G*& =.-+-12!3#B& #066& +,& /2+.+/)6& 402& $0,.
eR.2%(%&%R)(16%,&04&.$%&/0*,%J'%*/%,&04 A%2.)+*& #`^,& <%9:9B& #`^!@& )2%& +*.%2*)6; 3%4%*,%9&#$%&,',/%1.+D+6+.-&04&(+/%&5+.$
(+/20D%&)/.+8).+0*&04&#^eQ&120.%+*,&)2% +T%3& )4.%2& 6+:).+0*9& G*& ,'/$& )& ,+.').+0*B ,10*.)*%0',&('.).+0*,&+*&#`^,&.0&D)/;
6+4%;.$2%).%*+*:& ,%1.+/%(+)& )*3& .$% #`^,& )2%& 2%/2'+.%3& .0& .$%& 1).$0:%*; .%2+)6& +*4%/.+0*& +*3+/).%,& .$).& ()(();
3%)36-& $%(022$):+/& 4%8%2,& /)',%3& D- /0*.)+*+*:& 1$):0,0(%,& )*3& 3+,/2+(+; 6+)*&#`^,&16)-&)&,+(+6)2&206%9&F/.+8).+0*
Q)2D'2:&)*3&eD06)&8+2',&+*4%/.+0*9!c *).%&D%.5%%*&]2)(;10,+.+8%&)*3&]2)(; 04& #`^!& D-& (+/20D+)6& 6+10120.%+*,& +*;
*%:).+8%& D)/.%2+)BV>& .$',& ,'28%-+*:& .$% 3'/%,& )/.+8).+0*& 04& .$%& +*3'/+D6%& EX
;588F8#N9(?9497;5?2<! #$%2%& +,& *05 +*.2)/%66'6)2& /0(1)2.(%*.,& 04& .$%& /%66, ,-*.$),%& <EXS;GG& 02& +EXS@& 120(0.%2BVZ
,'D,.)*.+)6& %8+3%*/%& .0& ,'1102.& )& 206% 402&(+/20D+)6&+*8)3%2,9 5$+/$&6%)3,&.0&.$%&1203'/.+0*&04&EXB&)
402& ()(()6+)*& #`^,& +*& +**).%& +(('; #$%&%R12%,,+0*&04&#`^,&0*&/%66,&04&.$% M*05*& )*.+(+/20D+)6& ):%*.9& #$%2%& +,
*+.-& <=+:9& >?;V@9& =+2,.B& #`^,& 2%/0:*+T% (0*0/-.%N()/201$):%&6+*%):%&+,&/0*,+,; ,.20*:& %8+3%*/%& .$).& #`^!& )/.+8).+0*
!M
6%)3,&.0&M+66+*:&04&+*.2)/%66'6)2&>)4-6#47 +*4%/.+0',& 3+,%),%,& ),& 5%66& ),& .0& )D20; 1$):%,& D-& (+/20D+)6& 6+:)*3,& '12%:';
$%.!('&$(6%.4(3-+!+&+*&D0.$&(0',%&)*3&$'; :).%&2%,10*,%,&3%.2+(%*.)6&.0&.$%&$0,.9 6).%,& +EXS& <EXS;GG@B& 5$+/$& 2%,'6.,& +*
()*& ()/201$):%,9Vc& G*& (0',%& ()/20; 2)1+3& :%*%2).+0*& 04& EX& )*3& 105%24'6
1$):%,B& D)/.%2+)6& 6+10120.%+*& )/.+8).+0* (+/20D+/+3)6& )/.+8+.-9VZ& Q)/201$):%,
A'II#($N(+M'(5**/+'(5331*'(-K#+'3
04& #`^!& 6%)3,& .0& )& EX;3%1%*3%*.& M+66; ',%&.$+,&(%/$)*+,(&.0&/0*.)+*&,0(%&+*;
+*:&04&+*.2)/%66'6)2&.'D%2/6%&D)/+66+9&G*&$'; 7L*C54P;92 #50&M%-&/%66,&04&.$%&+**).% 4%/.+0',& 02:)*+,(,& *0.& ,',/%1.+D6%& .0
()*& (0*0/-.%,& )*3& )68%06)2& ()/20; +(('*%& ,-,.%(& )2%& /$)2)/.%2+T%3& D- PQE&)..)/MB&,'/$&),&(-/0D)/.%2+)B&/%2;
1$):%,B& D)/.%2+)6& 6+10120.%+*,& ,+(+6)26- .$%+2&1$):0/-.+/&4'*/.+0*7&()/201$):%, .)+*&4'*:+B&)*3&1)2),+.%,9
)/.+8).%&#`^!&.0&M+66&+*.2)/%66'6)2&>9&$(7 )*3& PQE,9& #$%,%& /%66,& $)8%& .$%& /)1)/; P$):0/-.+/&/%66,&04&.$%&+**).%&+(('*%
6%.4(3-+!+K& $05%8%2B& .$+,& 0//'2,& D-& )* +.-& .0& .)M%& '1& 1).$0:%*,B& 2%/0:*+T% ,-,.%(&/)*&)6,0&D%&)/.+8).%3&D-&/%66,&04
)*.+(+/20D+)6&1).$5)-&.$).&+,&EX&+*3%; .$%(B& )*3& 3%,.20-& .$%(9& S0(%& 04& .$% .$%&)3)1.+8%&+(('*%&,-,.%(9&AC"?&+,&)
1%*3%*.B&D'.&3%1%*3%*.&0*&.$%&)/.+8).+0* 4'*/.+0*,&04&.$%,%&/%66,&)2%&2%:'6).%3&8+) U?;M3& :6-/0120.%+*& 12%,%*.& 0*& .$%& ,'2;
04& .$%& 8+.)(+*& C& 2%/%1.02& )*3& 10.%*; #`^,&)*3&/0(16%(%*.&2%/%1.02,&),&0'.; 4)/%&04&H&/%66,B&(0*0/-.%,B&CA,B&)*3&%*;
.+)66-& .$%& +*3'/.+0*& 04& /).$%6+/+3+*9Vd 6+*%3&%)26+%29 30.$%6+)6& /%66,9& #$%& 6+:)*3& 402& AC"?& +,
#$%,%&3).)&1208+3%&%8+3%*/%&.$).&()(; PQE,& )2%& *02()66-& *0.& 12%,%*.& +* AC"?`B& )& .-1%& GG& (%(D2)*%& 120.%+*& 04
()6+)*&#`^,&$)8%&2%.)+*%3&*0.&0*6-&.$% ,M+*K& $05%8%2B& 3'2+*:& +*L)(().02- VV& M3B& 12%4%2%*.+)66-& %R12%,,%3& 0*& )/.+;
,.2'/.'2)6&4%).'2%,&04&=.-+-12!3#B&.$). 120/%,,%,B&.$%,%&/%66,&(+:2).%&.0&.$%&,+.% 8).%3& AC"i& #& /%66,& )*3& (),.& /%66,9
)6605& .$%(& .0& 2%,10*3& .0& (+/20D+)6& 6+; 04& +*4%/.+0*& )*3& +*L)(().+0*B& 5$%2% AC"?;AC"?`&+*.%2)/.+0*&16)-,&)&/2'/+)6
:)*3,&D'.&)6,0&.$%&)D+6+.-&.0&3+2%/.6-&)/; .$%-& )2%& .$%& %)26+%,.& 1$):0/-.+/& /%66,& .0 206%& +*& .$%& 3%8%601(%*.& 04& %44%/.02
.+8).%& )*.+(+/20D+)6& %44%/.02& 1).$5)-, D%&2%/2'+.%39&#$%,%&/%66,&$)8%&2%/%1.02, 4'*/.+0*,9&AC"i&#&/%66,&)/.+8).%&()/20;
).&.$%&,+.%&04&+*4%/.+0*9 .$).& 2%/0:*+T%& 1).$0:%*,& 3+2%/.6-& <,%% 1$):%,&)*3&(0*0/-.%,&.0&1203'/%&#E=;
#$%& )/.+8).+0*& 04& #`^,& /)*& )6,0& D% P)..%2*&^%/0:*+.+0*&^%/%1.02,@B&)*3&3'% B& G`;>B& G`;>!B& +*.%24%20*; & <G=E; @B& )*3
3%.2+(%*.)6B&6%)3+*:&.0&.+,,'%&+*f'2-9&#$% .0&.$%+2&%R12%,,+0*&04&=/ ^GGGNAC>W&)*3 EX& 8+)& AC"?;AC"?`& +*.%2)/.+0*9
)3(+*+,.2).+0*&04&`PS&.0&(+/%&/)*&2%,'6. AVD^NACVUB&/)*&1$):0/-.0,%&(+/20D%, AC"?`& $),& )6,0& D%%*& ,$05*& .0& 2%,/'%
+*&()*+4%,.).+0*,&04&,%1.+/&,$0/MB&5$+/$ /0).%3& 5+.$& )*.+D03-& )*3& 5+.$& .$% /+2/'6).+*:& (0*0/-.%,& 420(& )101.0.+/
+,& 3%1%*3%*.& 0*& #`^"9!>& e8+3%*/%& ,':; /0(16%(%*.&/0(10*%*.&AVD9&F,&)&/0*; 3%).$B& .$',& 12060*:+*:& .$%+2& ,'28+8)6& ).
:%,.,& .$).& #`^!& )/.+8).+0*& D-& *.-1!-"!7 ,%J'%*/%B& :2)*'6%,& </0*.)+*+*:& (-%60; .$%& ,+.%& 04& +*L)(().+0*9& G*& )33+.+0*B
6#4$%.!('"%+&+*3'/%,&+*L)(().02-&2%; 1%20R+3),%B&%6),.),%B&6)/.04%22+*B&/066):%; AC"?;AC"?`& +*.%2)/.+0*& 3'2+*:& #;/%66
,10*,%,& +*& )/*%& 8'6:)2+,B& 5$+/$& 6%)3& .0 *),%B& )*3& 0.$%2& %*T-(%,@& )2%& 2%6%),%3B )/.+8).+0*&D-&FPA,&2%,'6.,&+*&G`;>!&120;
.+,,'%& +*f'2-9"?& F6+12)*.+,& %.& )69& 3%(0*; )*3& (+/20D+/+3)6& ,'1%20R+3%& 2)3+/)6, 3'/.+0*9&#$%2%402%B&+.&/)*&D%&/0*/6'3%3
,.2).%3& .$).& (+/20D+)6& 6+10120.%+*,& +*; <X!\@&)2%&:%*%2).%3&<,%%&A$)19&V?@9 .$).&AC"?;AC"?`&+*.%2)/.+0*,&D%.5%%*
3'/%& 4%).'2%,& 04& )101.0,+,& 8+)& #`^!9"> #& /%66,& )*3& ()/201$):%,& 16)-& )& 206%& +*
#$',B& (+/20D+)6& 6+10120.%+*,& $)8%& .$% !""#$%&'()*+$%,&+-(&"(./01&$2%#-3 F/.+8); ()+*.%*)*/%& 04& #$>;.-1%& /%66'6)2& 2%;
)D+6+.-&.0&%6+/+.&D0.$&#`^;3%1%*3%*.&)/.+; .+0*&04&1$):0/-.%,&D-&1).$0:%*,&+*; ,10*,%,&)*3&(%3+).+0*&04&+*L)(().02-
8).+0*&04&$0,.&3%4%*,%&)*3&.+,,'%&1).$06; 3'/%,&,%8%2)6&+(102.)*.&%44%/.02&(%/$); 2%,10*,%,9& X.$%2& ,.'3+%,& $)8%& %,.)D;
0:-9&#$+,&3')6&,+:*)6+*:&1).$5)-&+,&,+(+; *+ , ( , B & 4 02 & % R) ( 16 % B & . 2 +: :% 2 + *: & 04 6+,$%3& )& 206%& 402& AC"?;AC"?`& +*.%2)/;
6)2&.0&#E=&2%/%1.02&)*3&AC"?&,+:*)6+*:B /-.0M+*%&1203'/.+0*9&F&*'(D%2&04&+(; .+0*,&+*&H;/%66&)/.+8).+0*B&3+44%2%*.+).+0*B
5$+/$&6%)3,&.0&D0.$&*'/6%)2&4)/.02; H&)/; 102.)*.&/-.0M+*%,&)2%&,%/2%.%3&D-&()/; )*3& G:& /6),,& ,5+./$+*:9UU& G*& )33+.+0*B
.+8).+0*& )*3& )101.0,+,9"!B"V& G*& .$+,& ()*; 201$):%,&+*&2%,10*,%&.0&(+/20D%,B&+*; AC"?;AC"?`& +*.%2)/.+0*& 6%)3,& .0& '1;
*%2B&+.&+,&10,,+D6%&402&.$%&+(('*%&,-,.%( /6'3+*:&G`;>B&G`;WB&#E=; B&G`;cB&G`;>!B 2%:'6).+0*& 04& HZ9>& <ACc?@& )*3& HZ9!
.0& ',%& .$%& ,)(%& (06%/'6%,& .0& )/.+8).% )*3&G`;>?9&G`;>B&G`;WB&)*3&#E=; &16)-&) <ACcW@& 0*& H& /%66,9& #$+,& /0;,.+('6).02-
$0,.& 3%4%*,%& (%/$)*+,(,& )*3& .$%*B& D- /2+.+/)6&206%&+*&+*3'/+*:&.$%&)/'.%;1$),% )/.+8+.-& +*3'/%3& 0*& H& /%66,& .$%*& )/.,& .0
)101.0,+,B&.0&305*2%:'6).%&.$%&2%,10*,% 2%,10*,%&+*&.$%&6+8%2&)*3&+*&+*3'/+*:&4%; )(16+4-& .$%& 2%,10*,%& 04& #& /%66,9& #$%,%
420(&/)',+*:&.+,,'%&+*f'2-9&F/.+8).+0*&04 8%2&402&%44%/.+8%&$0,.&3%4%*,%9&#E=; &+*; (%/$)*+,(,& '*3%2,/02%& .$%& +(102;
#`^&/)*&6%)3&.0&.$%&+*$+D+.+0*&04&.$%&(); 3'/%,&)&10.%*.&+*L)(().02-&2%,10*,% .)*/%& 04& .$%& +*.%216)-& D%.5%%*& .$%& +*;
f02& $+,.0/0(1).+D+6+.-& /0(16%R& <QaA@ .0&/0*.)+*&+*4%/.+0*9&G`;c&+,&+(102.)*.&), *).%& )*3& .$%& )3)1.+8%& +(('*%& ,-,.%(
/6),,& GG& )*.+:%*& 12%,%*.).+0*& 1).$5)-B )&(%3+).02&04&PQE&/$%(0.)R+,&.0&.$% +*&:%*%2).+*:&)*&%44%/.+8%&$0,.&2%,10*,%9
5$+/$& /)*& 305*2%:'6).%& +(('*%& 2%; ,+.%&04&+*4%/.+0*&<,%%&)6,0&A$)19&>>&0*
,10*,%,&6%)3+*:&.0&.+,,'%&+*f'2-&D'.&()- /-.0M+*%,@9 952#:57L#82 <S%%&A$)19&V?@ e0,+*01$+6,
)6,0&/0*.2+D'.%&.0&+(('*0,'112%,,+0*9"" F*0.$%2& +(102.)*.& 3%4%*,%& (%/$); )2%& )& 3+,.+*/.& /6),,& 04& D0*%& ()2205\
=+*)66-B& #066& )/.+8).+0*& $),& D%%*& +(16+; *+,(& .2+::%2%3& +*& 1$):0/-.%,& +*& 2%; 3%2+8%3& :2)*'60/-.%,& .$).& *02()66-& /0*;
/).%3&+*&D0*%&3%,.2'/.+0*9VU ,10*,%&.0&1).$0:%*,&+,&.$%&+*3'/.+0*&04 ,.+.'.%&0*6-&)&,()66&42)/.+0*&04&1%2+1$%2)6
#$%& /2+.+/)6& D+060:+/& 206%& 04& #`^,& +* 3+2%/.& )*.+(+/20D+)6& 2%,10*,%,9& P$):0; D6003& 6%'M0/-.%,& )*3& 0//'2& +*& %8%*
$'()*& $0,.& 3%4%*,%& /)*& D%& 3%3'/%3 /-.+/& /%66,& ,'/$& ),& PQE,& )*3& ()/20; ,()66%2& *'(D%2,& +*& 1%2+1$%2)6& .+,,'%,9
420(& .$%& I*3+*:& .$).& #`^"& ('.).+0*, 1$):%,&2%/0:*+T%&1).$0:%*,B&%*:'64&.$%(B #$%& /-.0M+*%,& :2)*'60/-.%;()/201$):%
)2%& ),,0/+).%3& 5+.$& `PS& $-10;2%,10*; )*3&+*3'/%&)*.+(+/20D+)6&%44%/.02&(%/$; /060*-;,.+('6).+*:&4)/.02&<]Q;AS=@B&G`;V
,+8%*%,,&+*&$'()*,9"U&H-&+*4%2%*/%B&0*% )*+,(,& .0& M+66& .$%& 1).$0:%*,9& PQE, )*3B&(0,.&+(102.)*.6-B&G`;U&)2%&/2+.+/)6&402
/)*&)*.+/+1).%&.$).&$'()*,&5+.$&:%*%.+/ :%*%2).%& 0R-:%*;3%1%*3%*.& 02& 0R-:%*; .$%+2&3%8%601(%*.&)*3&().'2).+0*9
)6.%2).+0*,& +*& #`^& ()-& $)8%& +*/2%),%3 +*3%1%*3%*.&M+66+*:9&#$%&2%6%),%&04&.0R+/
,',/%1.+D+6+.-&.0&/%2.)+*&(+/20D+)6&+*4%/; 0R-:%*& 2)3+/)6,B& 6-,0,0()6& %*T-(%,B :*;>?*8(N#889?(49882"M EO&/%66,&)11%)2
.+0*,9&='2.$%2(02%B&+.&,$0'63&D%&10,,+D6% )*3& )*.+(+/20D+)6& 1%1.+3%,& ,'/$& ),& .$% ),& 6)2:%& :2)*'6)2& 6-(1$0/-.%,9& G*& $';
.0& %R160+.& .$%& 1).$5)-& 04& #`^& )/.+8); $'()*&*%'.201$+6&3%4%*,+*,&6%)3,&.0&3+; ()*,B&.$%&8),.&()f02+.-&04&.$%,%&/%66,&%R;
.+0*&),&)&(%)*,&.0&%*302,%&+(('*%&2%; 2%/.&M+66+*:&04&.$%&(+/20D+)6&02:)*+,(,9W $+D+.&.$%& ACV\B& ACUWiB& AC>WiB& ACd"iB
,10*,%,& +*& 8)//+*%,& )*3& .2%).(%*.,& 402 S+(+6)26-B&)/.+8).+0*& 04&#`^,&0*&()/20; AC>W>i&1$%*0.-1%9&#$%+2&4'*/.+0*&+,&.0
!!
,'28%-&.$%&D03-&600M+*:&402&)6.%2%3&/%66,B .$).&()-&$)8%&)&206%&+*&.$%&,'28+8)6&)*3 /+2/'6).+0*&04&.$%&(0',%&,'1102.,&.$%&4%);
D%&.$%-&.2)*,402(%3&02&+*4%/.%3&5+.$&8+; 1206+4%2).+0*& 04& .$%& #& 6-(1$0/-.%,& 04 ,+D+6+.-&04&,'/$&)*&)1120)/$9
2',%,& <%9:9B& /-.0(%:)608+2',@B& D)/.%2+) $'()*& ,M+*9& S0(%& %8+3%*/%& %R+,.,& 402 F*0.$%2&+(102.)*.&4'*/.+0*&04&M%2).+*0;
<%9:9B ?!+$%.!#& '-"-4)$-/%"%+@B& 02& 1)2),+.%, .$%& G`;Z\32+8%*& 1201):).+0*& 04& 6-(; /-.%,&+,&.$%&1203'/.+0*N,%/2%.+0*&04&4)/.02,
<%9:9B @-<-13#+'#&/-",!!@9&#$%,%&1).$0:%*, 1$0()&/%66,&+*&SjT)2-&,-*320(%9 :08%2*+*:& .$%& +*L'R& )*3& %4L'R& 04& 6%'M0;
)2%& .$%*& M+66%3& 3+2%/.6-& 8+)& 1%2402+*N #]=; B&+*&)33+.+0*&.0&+.,&:205.$;2%:'; /-.%,&+*.0&)*3&0'.&04&.$%&,M+*92&:003
:2)*T-(%;&02&=),N=),`;3%1%*3%*.&(%/$; 6).+*:& %44%/.,& 0*& M%2).+*0/-.%,& )*3& ID20; %R)(16%,&)2%&.$%&/$%(0M+*%,&.$-(',&)*3
)*+,(,& 02& +*3+2%/.6-& 8+)& .$%& ,%/2%.+0*& 04 D6),.,B& (03'6).%,& .$%& +*L)(().02-& ), )/.+8).+0*;2%:'6).%3& /$%(0M+*%& <#F^AK
/-.0M+*%,&<%9:9B&G=E; @9 5%66&),&.$%&+(('*%&2%,10*,%W"&)*3&+,&+(; AA& /$%(0M+*%&6+:)*3& >ZB&02& AA`>Z@& )*3
a05& 30& EO& /%66,& 3+,/2+(+*).%& D%; 102.)*.& 402& `A& 3%8%601(%*.& <,%%& 4'2.$%2 /'.)*%0',& #& /%66\)..2)/.+*:& /$%(0M+*%
.5%%*& *02()6& )*3& .2)*,402(%3& 02 +*& C%8%601(%*.B& Q)+*.%*)*/%B& )*3& =).% <A#FAO@NAA`!Z&)*3&.$%+2&/022%,10*3+*:
1).$0:%*;+*4%/.%3&.+,,'%g 04&SM+*&C%*32+.+/&A%66,&'*3%2&`)*:%2$)*, 2%/%1.02,& AA^"& )*3& AA^>?B& ,%6%/.+8%6-
F66& *'/6%).%3& /%66,& %R12%,,& .$%& QaA A%66,& )*3& X.$%2& C%*32+.+/& A%66,@9WU& X* %R12%,,%3&0*&,M+*;$0(+*:&#&6-(1$0/-.%,9
/6),,& G& (06%/'6%,9& EO& /%66,& $)8%& 2%/%1; 3%6+8%2-&04&/%2.)+*&*0R+0',B&02&).&6%),.&10; H60/M+*:& 04& D0.$& /$%(0M+*%,& 32),.+/)66-
.02,B&.%2(%3&A!33%.&!"2!6!$-.)&.%4%1$-.+B&.$). .%*.+)66-& $)T)230',B& ,.+('6+& <%9:9B& $-; +*$+D+.,&.$%&(+:2).+0*&04&#&/%66,&.0&.$%&,M+*
2%/0:*+T%& .$%& ,%64& QaA& /6),,& G& (06%; 10R+)B& .2)'()B& *0*;+0*+T+*:& 2)3+).+0*B +*& )& ('2+*%& (03%6&04&/0*.)/.& $-1%2,%*,+;
/'6%,9&#$+,&2%/0:*+.+0*&2%,'6.,&+*&.$%&3%; $)1.%*,& 02& 0.$%2& 2)1+36-& 2%)/.+8%& /$%(+; .+8+.-&<AaS@9ZU&F*0.$%2&(02%&3+,.+*/.&4'*/;
6+8%2-&04&)&*%:).+8%&,+:*)6&.0&.$%&EO&/%66 /)6,&6+M%&10+,0*&+8-&/).%/$06,B&,+6+/)B&`PS,B .+0*& 04& )& M%2).+*0/-.%;3%2+8%3& /$%(0M+*%
.$).&1)2)6-T%,&+.9&G4&)&*'/6%).%3&/%66&60,%, )*3& (+/20D+)6& .0R+*,@B& .$%& 1203'/.+0* +*&.$%&2%/2'+.(%*.&04&6%'M0/-.%&,'D;101';
%R12%,,+0*&04&+.,&QaA&/6),,&G&(06%/'6%,B )*3N02&2%6%),%&04&()*-&/-.0M+*%,&+,&04.%* 6).+0*,&.0&.$%&%1+3%2(+,&+,&,'::%,.%3&D-&.$%
$05%8%2B& ),& 04.%*& $)11%*,& )4.%2& ()6+:; 32)().+/)66-&%*$)*/%39&#$%&D+060:+/&/0*; ,%6%/.+8%&%R12%,,+0*&04&.$%&()/201$):%&+*;
*)*.& .2)*,402().+0*& 02& 8+2',& +*4%/.+0*B ,%J'%*/%,&04&.$+,&%8%*.&)2%&()*+4063&)*3 L)(().02-& 120.%+*& V & <QGP;V @NAA`!?
.$%&EO&/%66B&0*&%*/0'*.%2+*:&+.B&5+66&D%; +*/6'3%& .$%& +*+.+).+0*& 04& +*L)(().+0* 2%/%1.02B& AA^WB& 0*& `A,& )*3& `A
/0(%&)/.+8).%3&)*3&M+66&+.9 <G`;>B& #E=; B& G`;WB& (%(D%2,& 04& .$%& /$%; 12%/'2,02,ZW& <,%%& C%8%601(%*.B& Q)+*.%;
G*& )33+.+0*B& EO& /%66,& $)8%& )/.+8).+*: (0M+*%& 4)(+6-@B& .$%& (03'6).+0*& 04& `A *)*/%B&)*3&=).%&04&SM+*&C%*32+.+/&A%66,&)*3
2%/%1.02,&.$).&D+*3&QaA;6+M%&6+:)*3,&0* 1$%*0.-1%& )*3& 4'*/.+0*& <G`;>B& ]Q;AS=B #&`-(1$0/-.%&S'D;P01'6).+0*,@9&
.)2:%.& /%66,9& X*%& ,'/$& 2%/%1.02& +, #E=; B&G`;>?B&G`;>U@B&#;/%66&)/.+8).+0*&<G`; #$%& 3%(0*,.2).+0*& 04& /-.0M+*%& 2%/%1;
EO]C!B& 5$+/$& D+*3,& .0& .$%& $'()* >UB& G`;>c@BWWBWZ& #;/%66& +*$+D+.+0*& <G`;>?B .02,& 0*& )*3& /-.0M+*%& 2%,10*,+8%*%,,& D-
*0*;/6),,+/&QaA&/6),,&G&/$)+*;2%6).%3&F #]=; @BWc& )*3& ,M%5+*:& 04& .$%& 6-(1$0; M%2).+*0/-.%,& %,.)D6+,$%3& .$).& .$%& 4'*/;
)*3& H& (06%/'6%,B& QGAF& )*3& QGAH9Ud /-.+/&2%,10*,%&+*&%+.$%2&.$%&.-1%&>&<G`;>!B .+0*)6&1201%2.+%,&04&.$%,%&/%66,&/)*&D%&,'D;
QGAF& )*3& QGAH& )2%& *0.& %R12%,,%3& +* G`;>c@BWd& .-1%& !& <.$-(+/& ,.20()6& 6-(; f%/.&.0&2%:'6).+0*&D-&/%66,&04&.$%&+(('*%
,'D,.)*.+)6& )(0'*.,& 0*& *02()6& .+,,'%, 1$010+%.+*@BZ?&02&#$>Z&<G`;!V@&3+2%/.+0*9Z> ,-,.%(9&F,&)&/0*,%J'%*/%B&M%2).+*0/-.%,
D'.& )2%& 08%2%R12%,,%3& 0*& /)2/+*0(),9W? G*& ,0(%& /),%,B& M%2).+*0/-.%,& ()-& )6,0 %R12%,,&02&)2%&+*3'/%3&.0&%R12%,,&+((';
EO& /%66,& )2%& )D6%& .0& M+66& QGAFNQGAH; 16)-& )& 206%& +*& )(16+4-+*:& +*L)(().02- *060:+/)66-&2%6%8)*.&,'24)/%&(0+%.+%,&.$).
D%)2+*:& .'(02,B& 5$+/$& ,'::%,.,& )& 206% ,+:*)6,&+*&.$%&%1+3%2(+,&02+:+*).+*:&420( /)*&D%&.)2:%.%3&D-&6%'M0/-.%,&402&,.+('6);
402&EO]C!&+*&+(('*%&,'28%+66)*/%9 *'(%2+/)66-& (+*02& %1+3%2()6& /%66& ,'D; .02-&02&+*$+D+.02-&,+:*)6&.2)*,3'/.+0*9
F*0.$%2& /%66& .-1%& .$).B& ).& 6%),.& +* ,%.,9&X*%&120(+*%*.& %R)(16%& +,& .$%& +*; G*& )33+.+0*& .0& /-.0M+*%,B& M%2).+*0;
(+/%B& /0'63& ,%28%& )& ,+(+6)2& 4'*/.+0*& +, 3'/.+0*& 04& 120;+*L)(().02-& /-.0M+*%, /-.%,&,%/2%.%& 0.$%2& 4)/.02,& ,'/$& ),& *%';
.$%& G=E;1203'/+*:& M+66%2& CAB& 5$+/$ ,'/$& ),& #E=; & +*& M%2).+*0/-.%,& D-& `A; 201%1.+3%,B& %+/0,)*0+3,B& )*3& 2%)/.+8%
,$)2%,& ,%8%2)6& 4%).'2%,& 5+.$& CA,& )*3 3%2+8%3& G`;> & +*& .$%& +*+.+).+0*& 1$),%& 04 0R-:%*& ,1%/+%,9& #$%,%& (%3+).02,& $)8%
EO& /%66,9W>BW!& #$%+2& $'()*& %J'+8)6%*. )66%2:+/& /0*.)/.& 3%2().+.+,9Z!& G*& .$%& 12%,; 10.%*.& +*L)(().02-& )*3 +(('*0(03;
$),&-%.&.0&D%&+3%*.+I%39 %*/%& 04& )& 20D',.& ,.+('6',B& M%2).+*0/-.%; '6).02-&1201%2.+%,&)*3&16)-&)*&+(102.)*.
3%2+8%3& /-.0M+*%,& ()-& D%& 2%6%),%3& +*.0 206%&+*&.$%&1).$0:%*%,+,&04&/'.)*%0',&+*;
N9?*;#:54P;92 X*/%& .$0':$.& .0& D%& +*; .$%& /+2/'6).+0*& +*& J')*.+.+%,& .$).& /)',% L)(().02-& )*3& +*4%/.+0',& 3+,%),%,& ),
%2.B&M%2).+*0/-.%,B&.$%&12%30(+*)*.&/%66, ,-,.%(+/&%44%/.,9&C'2+*:&)&,%8%2%&,'*D'2* 5%66&),&+*&):+*:9
+*&.$%&%1+3%2(+,B&/)*&(0'*.&)*&+(('*% 2%)/.+0*B&402&%R)(16%B&,%2'(&6%8%6,&04&G`; O%2).+*0/-.%,& /)*& )6,0& ,-*.$%,+T%
)*3N02& +*L)(().02-& 2%,10*,%& .$20':$ >B& G`;WB& )*3& #E=; & )2%& /6%)26-& %6%8).%3 /0(16%(%*.& )*3& 2%6).%3& 2%/%1.02,B& +*;
,%/2%.+0*&04&/-.0M+*%,&)*3&/$%(0M+*%,B )*3&120D)D6-&2%,10*,+D6%&402&.$%&,-,.%(+/ /6'3+*:& .$%& AVD& 2%/%1.02& [/0(16%(%*.
)2)/$+30*+/& )/+3& (%.)D06+.%,B& /0(16%; ()*+4%,.).+0*,& 04& .$+,& 2%)/.+0*B& ,'/$& ), 2%/%1.02& >& <A^>@B& ACVU_B& .$%& e1,.%+*;
(%*.& /0(10*%*.,B& )*3& )*.+(+/20D+)6 4%8%2B&6%'M0/-.0,+,B&)*3&.$%&1203'/.+0*&04 H)22& 8+2',& 2%/%1.02& A^!& <AV3& 2%/%1.02B
1%1.+3%,9 )/'.%;1$),%&120.%+*,9ZV&#$%2%&+,&)6,0&%8+; AC!>@B& .$%& AU)& 2%/%1.02& <ACcc@B& .$%
O%2).+*0/-.%,& 04& '*1%2.'2D%3& ,M+* 3%*/%&.$).&.$%&'6.2)8+06%.&<Yk@&2)3+).+0*\ (%(D2)*%&/0;4)/.02&120.%+*&<AC"W@B&.$%
1203'/%&0*6-&)&4%5&04&.$%,%&(%3+).02,B +*3'/+D6%&/-.0M+*%,&G`;W&)*3&G`;>?&/)*&+*; 3%/)-;)//%6%2).+*:& 4)/.02& <ACUU@B& )*3
,'/$& ),& .$%& /-.0M+*%,& G`;>B& G`;ZB& )*3 3'/%& .$%& 1203'/.+0*& 04& )'.0)*.+D03+%, /0(16%(%*.& 120.%/.+*& <ACUd@9& ACUd
.2)*,402(+*:& :205.$& 4)/.02; & <#]=; @B )*3&.$',&D%&+*8068%3&+*&.$%&%R)/%2D).+0* ()-& 120.%/.& M%2).+*0/-.%,& 420(& )..)/M
/0*,.+.'.+8%6-9& ^%,+3%*.& M%2).+*0/-.%, 04& )'.0+(('*%& 3+,%),%,& ,'/$& ),& 6'1', D-& /0(16%(%*.9& G.,& %*:):%(%*.& D-
/0*.)+*& 6)2:%& J')*.+.+%,& 04& 12%;402(%3 %2-.$%().0,',9& #$%& 4)/.& .$).& ,%/2%.%3 AC!& ,.+('6).%,& .$%& ,%/2%.+0*& 04& 120;
)*3& D+060:+/)66-& )/.+8%& G`;> & ),& 5%66& ), 1203'/.,& 04& M%2).+*0/-.%,& /)*& 2%)/$& .$% +*46)(().02-& /-.0M+*%,& 420(& M%2).+*0;
+(().'2%& G`;> & +*& .$%+2& /-.016),(9WV /+2/'6).+0*&/0'63&/0*/%+8)D6-&)6,0&D%&',%3 /-.%,9&Q%(D2)*%&/0;4)/.02&<AC"W@&+,&2%;
#$%&6+M%6-&+*&8+80&206%&04&.$+,&,.02%3&+*; 402&.$%2)1%'.+/&1'210,%,9&#$%&3%(0*,.2); 102.%3&.0&D%&)&2%/%1.02&402&Q&120.%+*&04
.2)/%66'6)2& G`;>& +,& .$).& 04& )*& +((%3+).% .+0*& D-& =%*f8%,& %.& )69Z"& .$).& :2)4.+*:& 04 :20'1&F&,.2%1.0/0//+&)*3&402&(%),6%,&8+;
+*+.+).02&04&+*L)(().02-&)*3&2%1)+2&120; )106+10120.%+*& e& :%*%\.2)*,4%/.%3& $'; 2',9c?&G.,&6+:).+0*&+*3'/%,&120;+*L)(();
/%,,%,& )4.%2& %1+3%2()6& +*f'2-9& G`;Z& +,& )* ()*& M%2).+*0/-.%,& 0*.0& (+/%& 2%,'6.,& +* .02-& /-.0M+*%,& +*& M%2).+*0/-.%,& ,'/$& ),
+(102.)*.& 6-(1$0/-.%& :205.$& 4)/.02 .$%& 3%.%/.+0*& 04& )106+10120.%+*& e& +*& .$% G`;> B&G`;WB&)*3&]Q;AS=9
DEE
A(R'SS
;(R'SS
F';6&#)6-'% D/-8:#)6-'%
A A A G a E A ! a ! E AD! GD! aD! E!
W/)+(,'%-&'+%
&*-%0)*'1&'+%
A G a E A a E A G a E
DccE EccD
D/-8:#)6-'%
b55/)&+*#0'&/
KEW E E P0P0P
G'0?.5'4/#.'%>-;/ E E
P0P0P
a a
A GA F';6&#)6-'%
$; E E A
CDE A
ID<
A A $;P
$;P
)+(,'%'%; ID< )+(,'%'%;
$BE
0'&/ 0'&/
B#C>?9(DEFQ :@2'II(%'2'O+$%(S:A<T(,'*'(%'/%%/*,'3'*+#H(:M"#(&"/,%/3(#M$[#(M$[(&"R'%#"+K("*(:A<#(/*&(/*+"4$&"'#("#(,'*'%/+'&(4K(,'*'(%'/%%/*,'3'*+H(7$%
+M'(:A<U(%'/%%/*,'3'*+($N(+M'( (2M/"*("#(#M$[*U(/*&(N$%(/*+"4$&"'#U(+M/+($N("331*$,I$41I"*(0(M'/RK(/*&(I",M+(2M/"*#("#(&'O"2+'&H(:M'('*2$&'&(/*+"4$&K(%'2$,@
*"d'#(+M'(*$3"*/I(/*+",'*(O'%(#'U([M'%'/#(+M'('*2$&'&(:A<(%'2$,*"d'#(/*+",'*("*(+M'(2$*+'X+($N(/*(/OO%$O%"/+'(/*+",'*@O%'#'*+"*,(3$I'21I'H(9,(a(/*+",'*P(9)A
a(/*+",'*@O%'#'*+"*,(2'IIP(A(a(2$*#+/*+(#',3'*+P(!(a(&"R'%#"+K(#',3'*+P(J(a(b$"*"*,(#',3'*+P(0EA(a(3/b$%(M"#+$2$3O/+"4"I"+K(2$3OI'XP(B(a(R/%"/4I'(#',3'*+H
A'*?0/0 =FP!<
,-)&/*'-
=UIP
TP)/..#0&'(?.-&'+%
IH#)/..
D?(+*-.
'((?%'&:
K6<#)/..
=FPR
=UIP b+0'%+16'.
=FPR =FP\ */01+%0/0
$../*;/%0
6/.('%&60 =FPR =FPR
=FP!_ C-)*+16-;/
0?11*/00'+%
C-0&#)/..
+&6/*#)/..0
B#C>?9(DEF" :M'(%$I'($N("**/+'("331*"+K("*(&'+'%3"*"*,(+M'(+KO'($N(2K+$."*'(%'#O$*#'H(576(a("*+'%N'%$*P(58(a("*+'%I'1."*P(6L(a(*/+1%/I(."II'%P(:MFU(:M_(a(:
M'IO'%(FU(_H
+*& 1).+%*.,& 5+.$& .$%& 6%120().0',& 402( .20:%*& +*.%2(%3+).%,& D-& ()/201$):%, 6%)3,& .0& 3+44%2%*.+).+0*& 04& #& /%66,& )60*:
04& .$%& 3+,%),%& )*3& .$%2%402%& )2%& *0. )*3& ,.+('6).%,& .$%(& .0& M+66& 02& 2%,.2+/. .$%& #$!& 1).$5)-9& G.& +,& +*.2+:'+*:& .0
.$0':$.&.0&16)-&)&206%&+*&120.%/.+0*9 .$%& :205.$& 04& +*.2)/%66'6)2& 1).$0:%*,9 ,1%/'6).%& .$).& M%2).+*0/-.%,& ()-& )6,0
#$+,&1)2)30R&/)*&D%,.&D%&%R16)+*%3&+* #$%& /-.0M+*%,&40'*3&.0&D%& +*/2%),%3& +* +*L'%*/%& .$%& *).'2%& 04& .$%& #;/%66& /-.0;
.%2(,&04&.$%&1)..%2*,&04&/-.0M+*%,&+*&.$% 6%120().0',& 6%,+0*,& (+:$.& D%& %R1%/.%3 M+*%& 2%,10*,%9& O%2).+*0/-.%,& /)*& 120;
6%,+0*,9U!Bcd& #$%& #$>& /-.0M+*%,B& 12+*/+; .0&/0*.2+D'.%&.0&.$%& +(('*%& '*2%,10*; 3'/%& G`;>?B& 1)2.+/'6)26-& )4.%2& %R10,'2%
1)66-B&G`;!&)*3&G=E; &)2%&(02%&,.20*:6- ,+8%*%,,&)*3&4)+6'2%&04&()/201$):%&)/.+; .0& YkH& 2)3+).+0*9Wc& #$%& 2%6%),%3& G`;>?
%R12%,,%3& +*& .'D%2/'60+3& 6%,+0*,B 8).+0*&+*&.$%,%&+*3+8+3')6,9&G`;"&)*3&G`; /)*& ,1%/+I/)66-& 305*2%:'6).%& #$>& 2%;
5$%2%),&.$%&#$!&/-.0M+*%,B&*0.)D6-&G`; >?&()-&/0*.2+D'.%&.0&.$%&%6%8).%3&)*.+\ ,10*,%,B& .$',& 4)/+6+.).+*:& .$%& 3%8%601;
"B& G`;UB& )*3& G`;>?B& )2%& /$)2)/.%2+,.+/& 04 >9&3%1.#%&)*.+D03+%,&+*&6%120().0',&1); (%*.&04&#$!&2%,10*,%,9
6%120().0',& 6%,+0*,9& #$%,%& /-.0M+*% .+%*.,& 8+)& .$%+2& 206%& +*& 3+44%2%*.+).+0*
1)..%2*,&/)*&D%&),,+:*%3&.0&.$%&()f02&#; )*3& G:& /6),,& ,5+./$+*:& 04& H& /%66,B& D'. ;(L9879?(DK(49882 E0.&%8%2-&#&/%66\(%;
/%66& ,'D,%.,& 0D,%28%3& +*& .$%& 6%,+0*,7 .$%-&)6,0&$)8%&)&*%:).+8%&+(('*02%:'; 3+).%3& 3+,%),%& /)*& D%& %),+6-& %R16)+*%3
AC"i& #& /%66,& 12%30(+*).%& +*& .'D%2/'; 6).02-&%44%/.&0*&AQGB&305*2%:'6).+*:&#; D-& .$%& #$>N#$!& 1)2)3+:(9& S0(%& #;/%66
60+3& 6%,+0*,& )*3& ACci& #& /%66,& 12%30(+; /%66&)*3&()/201$):%&4'*/.+0*9 ,'D;101'6).+0*,& )2%& /$)2)/.%2+T%3& D-
*).%& +*& 6%120().0',& 6%,+0*,9& F66& 04& .$% X4&1)2.+/'6)2&+*.%2%,.&.0&+(('*060:+,., .$%& ,%/2%.+0*& 04& G`;>Z9& #$%,%& /%66,& )2%
>9& 3%1.#%\,1%/+I/& AC"i& #& /%66,& 3%2+8%3 +,&.$%&3%6+*%).+0*&04&4)/.02,&.$).&+*L'%*/% .$%2%402%& .%2(%3& @2CE& 4%33+9& G`;!VB& )
420(& .'D%2/'60+3& 1).+%*.,& 1203'/%& G`;! .$%& #;/%66& /-.0M+*%& 1)..%2*9& #$%& +**).% (%(D%2& 04& .$%& G`;>!& 4)(+6-B& +,& )11)2;
)*3&G=E; &)*3&)2%&3%,+:*).%3&AC"i $)1% +(('*%&2%,10*,%&+,&0*%&+(102.)*.&4)/.02 %*.6-&04&M%-&+(102.)*/%&402&.$%&3%8%601;
C& /%66,9& #$%& ACci& #& /%66,& 3%2+8%3& 420( +*8068%3&+*&3%.%2(+*+*:&.$%&.-1%&04&#;/%66 (%*.& 04& #$>Z& /%66,Bd?& 5$+/$& $)8%& D%%*
6%120().0',& 6%,+0*,& 1203'/%& $+:$& 6%8; /-.0M+*%&2%,10*,%&<=+:9&>?;U@9 6+*M%3&.0&)&:205+*:&6+,.&04&)'.0+(('*%
%6,& 04& G`;"& )*3& 605& 6%8%6,& 04& G=E; & )*3 #$%& )D+6+.-& 04&.$%&+**).%&+(('*%& 2%; )*3&+*L)(().02-&3+,%),%,&,'/$&),&*%';
)2%&3%,+:*).%3&ACci $)1%&D&/%66,9 ,10*,%& .0& +*3'/%& .$%& 3%8%601(%*.& 04& ) 20+*L)(().02-& 3+,023%2,B& ),.$()B& 6';
G*& .%2(,& 04& .$%& +(('*01).$0:%*%,+, #$>& 2%,10*,%& +,& (%3+).%3& D-& 2%6%),%& 04 1',& %2-.$%().0,',B& 2$%'().0+3& )2.$2+;
04& 6%120,-& <,%%& A$)19& >cW@B& .$%& )D'*; G`;>!B& )& Z?;M3& $%.%203+(%2+/& 120.%+*9"W .+,B&)*3B&(0,.&*0.)D6-B&1,02+),+,9Z>&G`;>Z
3)*/%& 04& G`;!& )*3& G=E; & +*& .'D%2/'60+3 =02&%R)(16%B&+*&2%,10*,%&.0&)*&+*.2)/%6; +,& D%6+%8%3& .0& /0*.2+D'.%& .0& .$%& 1).$0;
6%,+0*,& +,& 6+M%6-& .0& /0*.2+D'.%& .0& .$%& 2%; 6'6)2&1).$0:%*B&()/201$):%,&2%6%),%&G`; :%*%,+,& 04&.$%,%& 3+,%),%,& D-& )/.+*:& ),&)
,+,.)*.& ,.).%& 04& +(('*+.-& +*& .$%,%& 1); >!B& 5$+/$& )/.,& 0*& EO& /%66,& .0& 2%6%),% 10.%*.& 120;+*L)(().02-& (%3+).029& G.
.+%*.,9& G`;!& ()-& /0*.2+D'.%& .0& .$%& $0,. G=E; 9& #$%& 12%,%*/%& 04& G`;>!B& G`;!B& )*3 5),& 02+:+*)66-& ),,'(%3& .$).& #$>& )*3
3%4%*,%& D-& +*3'/+*:& .$%& /60*)6& %R1)*; G=E; B& 5+.$&.$%&2%6).+8%&6)/M& 04&G`;"B&4); #$>Z& /%66,& )2+,%& 420(& )& /0((0*& #$>
,+0*&04&)/.+8).%3B&/-.0M+*%;1203'/+*:&# /+6+.).%,& #$>& 2%,10*,%,9& G*& /0*.2),.B& +* 12%/'2,02B&D'.&+.&*05&)11%)2,&.$).&#$>Z
/%66,& )*3& )':(%*.,& .$%& 1203'/.+0*& 04 2%,10*,%& .0& )66%2:%*,& 02& %R.2)/%66'6)2 /%66,&)2%&)&/0(16%.%6-&,%1)2).%&)*3&%)26-
G=E; 9& G=E; & +,& 5%66& M*05*& .0& %*$)*/% 1).$0:%*B&(),.&/%66,&02&D),01$+6,&2%6%),% 6+*%):%& 04& %44%/.02& AC"i& #$& /%66,& 120;
1203'/.+0*& 04& 2%)/.+8%& 0R-:%*& )*3& *+; G`;"B& 5$+/$& +*& .$%& )D,%*/%& 04& G=E; 3'/%3&3+2%/.6-&420(&*)+8%&AC"i&#&/%66,9
DEO
4P;5;5U#4(;(49882 G*& 2%,10*3+*:& .0& )* )*/%& .0& ,%64;)*.+:%*,& +*& .$%& 1%2+1$%2-9 .$).&3%16%.+0*&04&EO#&/%66,&/)*&)::2)8).%
+*.2)/%66'6)2& 1).$0:%*& <%9:9B& )& 8+2',@& .$% `0,,&04%:&/%66,&+,&.$%&/)',%&04&02:)*; )*3& )//%6%2).%& #$>;(%3+).%3& )'.0+(;
#&/%66&(',.&6-,%&.$%&+*4%/.%3&/%669�&30 ,1%/+I/& )'.0+(('*+.-& +*& (+/%& .$).& 2%; ('*%& 3+,%),%,& +*& (+/%B& ,'/$& ),& +*,'6+*;
,0B&+.&(',.&D%&)D6%&.0&2%/0:*+T%&)*3&2%; ,'6.,&+*&.$-20+3+.+,B&)32%*)6+.+,B&001$02+; 3%1%*3%*.& 3+)D%.%,B& ('6.+16%& ,/6%20,+,B
,10*3&.0&)*.+:%*+/&1%1.+3%,&%*/03%3&D- .+,N02/$+.+,B&)*3&,0&0*9%:&/%66,&)2%&)6,0 )*3&+*L)(().02-&D05%6&3+,%),%9dZ
.$+,&1).$0:%*&)*3&3+,16)-%3&0*&.$%&/%66 /2+.+/)6& 402& /0*.2066+*:& .$%& ():*+.'3%
,'24)/%9&=02& .$+,& .0& 0//'2B& )*.+:%*,& )2+,; )*3& 3'2).+0*& 04& +(('*%& 2%,10*,%,& .0 8P67L54P;92(5B(;L9(2N#: E02()6& ,M+*
+*:&+*&.$%&/-.0,06&)2%&/6%)8%3&+*.0&,()66 (+/20D%,9&Y*3%2&*02()6&/+2/'(,.)*/%,B +,& .$%& 120.0.-1%& 04& )& *0*6-(1$0+3& 02;
1%1.+3%,& D-& )& /0(16%R& 04& 120.%),%,B .$%& +*+.+)6& )*.+(+/20D+)6& +(('*%& 2%; :)*B&.$).&+,B&)*&02:)*&+*&5$+/$&12+()2-
/)66%3& .$%& 1.-$%#+-'%9& #$%& 1%1.+3%& 42):; ,10*,%& 2%,'6.,& +*& .$%& %6+(+*).+0*& 04& .$% 6-(1$0/-.%&2%,10*,%,&)2%&*0.&+*+.+).%39
(%*.,&)2%&.$%*&.2)*,102.%3&420(&.$%&/-; 1).$0:%*+/& (+/2002:)*+,(& )*3& +,& .$%* F,& 0110,%3& .0& *02()6& (0',%& ,M+*B& +*
.0,06&+*.0&.$%&6'(%*&04&.$%&%*3016),(+/ 406605%3& D-& )*& )/.+8).+0*& 04& #2%:& /%66, 5$+/$& )& 2%,+3%*.& 101'6).+0*& 04& 3%*32+.+/
2%.+/'6'(B& 5$%2%& .$%-& ),,0/+).%& 5+.$ .0& ,'112%,,& .$%& )*.+(+/20D%& 2%,10*,% %1+3%2()6& #& /%66,& '*+402(6-& %J'+11%3
QaA&/6),,&G&(06%/'6%,9&#$%,%&1%1.+3%\ )*3& 12%8%*.& $0,.&+*f'2-9&S0(%& (+/2002; 5+.$& )& *0*106-(021$+/B& /)*0*+/)6& #A^
/6),,& G& /0(16%R%,& )2%& %R102.%3& .0& .$% :)*+,(,& <%9:9B& ?%!+2'#"!#& 1)2),+.%,B& (-; N & %R+,.,B& *02()6& $'()*& ,M+*& /0*.)+*,
]06:+&)11)2).',&)*3&.$%*&.0&.$%&/%66&,'2; /0D)/.%2+)@&$)8%&3%8%601%3&.$%&/)1)/+.- 0*6-&,()66&*'(D%2,&04&6-(1$0/-.%,B&.$%
4)/%& <,%%& ]%*%2)6& P2+*/+16%,& 04& F*.+:%* .0&+*3'/%&)*&+(('*%&2%)/.+0*&+*&5$+/$ ()f02+.-&04&5$+/$&)2%&60/).%3&+*&.$%&3%2;
P2%,%*.).+0*&402&(02%&3%.)+6,@9&#$%&().; .$%& #2%:& /0(10*%*.& 30(+*).%,& .$%& %4; (+,& )*3& %R12%,,& #A^& N & 2).$%2& .$)*& N
'2).+0*&04&)&ACci&#&/%66&.0&)&M+66%2&#&/%66 4%/.02& 2%,10*,%9&#$+,& ,+.').+0*&12%8%*., 9dcBdd&#$%,%&#&/%66,&04&*02()6&$'()*&3%2;
2%J'+2%,&*0.&0*6-&.$%&3+,16)-&04&.$%&)*.+; %6+(+*).+0*& 04& .$%& (+/20D%& )*3& 2%,'6., (+,& )2%& 12%4%2%*.+)66-& /6',.%2%3& )20'*3
:%*+/& ,+:*)6& D'.& )6,0& .$%& 3%6+8%2-& 04 +*&/$20*+/&+*4%/.+0*9 10,./)1+66)2-& 8%*'6%,& 04& .$%& ,'1%2I/+)6
$%61%2& ,+:*)6,& 420(& AC"i& #& /%66,B& 402 ^%:'6).02-&4'*/.+0*,&)2%&(%3+).%3&D- 16%R',& $+:$&+*&.$%&1)1+66)2-& 3%2(+,& )*3
5$+/$& .$%& 4'*/.+0*)6& +*.%2)/.+0*& D%; 3+,.+*/.& :20'1,& 04& AC"iB& ACciB& )*3 )2%& 04.%*& ,+.').%3& f',.& D%*%).$& .$%& 3%2;
.5%%*&AC"?&0*&.$%&FPA&)*3&AC"?`&0* EO#& /%66,9& #$%& D%,.;/$)2)/.%2+T%3& #2%: ()6;%1+3%2()6& f'*/.+0*& )*3& 5+.$+*B& 02
.$%&ACci&#&/%66&/)*&,'D,.+.'.%9 ,'D,%.& +,& .$%& AC"iNAC!UiNA#`F;"iN +*& /60,%& 120R+(+.-& .0B& )3*%R)6& )11%*3;
#50& 3+,.+*/.& ,'D,%.,& 04& /-.0.0R+/& # ]G#^& <:6'/0/02.+/0+3;+*3'/%3& #E=& 2%; ):%,& ,'/$& ),& $)+2& 4066+/6%,& )*3& %//2+*%
/%66,&$)8%&D%%*&+3%*.+I%3&)*3&/)*&D%&3+4; /%1.02& 4)(+6-\2%6).%3& :%*%@iN=0RPVi ,5%). 3'/.,9&Q0,.&04&.$%(&D%60*:&.0&.$%
4%2%*.+).%3&D-&.$%&(%/$)*+,(&D-&5$+/$ 6-(1$0/-.%,9& #$%& .2)*,/2+1.+0*& 4)/.02 AC"U^Xi& (%(02-& 101'6).+0*h5+.$
.$%-& M+66& .)2:%.,Bd>& .$%& %*3& 2%,'6.& D%+*: =0RPV& +,& ,1%/+I/)66-& 6+*M%3& .0& .$%& ,'1; .$%& AC"iNACc\& 30(+*).+*:& 08%2& .$%
.$%& +*3'/.+0*& 04& )& 120:2)((%3& /%66 12%,,02& 4'*/.+0*B& ),& %8+3%*/%3& D-& .$% AC"\NACci&1$%*0.-1%h)*3&%R12%,,&.$%
3%).$& M*05*& ),& #1-1$-+!+9d!BdV& #$%& I2,. I*3+*:,& .$).& ('.).+0*,& +*& .$%& =0RPV ,M+*;$0(+*:&2%/%1.02&/'.)*%0',&6-(1$0;
(%/$)*+,(&04&/-.0.0R+/+.-&+*8068%,&.$% :%*%& /)',%& .$%& 4).)6& )'.0+(('*%& )*3 /-.%\),,0/+).%3&)*.+:%*&<A`F@9>??
+*.%2)/.+0*&04& .50& /%66& ,'24)/%& 120.%+*,B +*L)(().02-&3+,023%2&04&,/'24-&+*&(+/% F.& 1%2+8),/'6)2& ,+.%,B& (0,.& #& /%66,
=),& 6+:)*3& <ACdU`@& 0*& .$%& #& /%66,& )*3 )*3& GPeo& <!(('*%& 3-,2%:'6).+0*B&106-; ,.)+*&10,+.+8%6-&402&a`F;C^&)*3&AC!UB
=),& <ACdU@& 0*& .$%& .)2:%.9& `+:).+0*& 04 %*30/2+*01).$-B& %*.%201).$-B& H;6+*M%3@ 5$+/$&+*3+/).%,&.$).&,0(%&04&.$%(&2%1;
.$%,%& (06%/'6%,& 3%6+8%2,& )& ,+:*)6 +*& $'()*,9& #$%& /-.0M+*%,& #]=; & )*3 2%,%*.& %44%/.02& /%66,& )*3& 0.$%2,& 1%2$)1,
.$20':$& =),& .$).& +*3'/%,& .$%& )101.0,+, G`;>?&)2%&.$0':$.&.0&D%&.$%&()+*&(%3+); #2%:&/%66,9
/),/)3%&+*&.$%&.)2:%.9&#$%&,%/0*3&(%/$; .02,&04&,'112%,,+0*9 e1+3%2()6&#&/%66,&)//0'*.&402&)1120R+;
)*+,(& +*8068%,& .$%& 2%6%),%& 04& /-.016),; ACci& /%66,& /)*& D%& )/.+8).%3& .0& D%; ().%6-& !& 1%2/%*.& .0& V& 1%2/%*.& 04& )66
(+/& :2)*'6%,& 12%,%*.& +*& ,'/$& #& /%66,9 /0(%&,'112%,,02&/%66,&D-&)*.+:%*+/&1%1; ACVi&/%66,&+*&*02()6&$'()*&,M+*9&#$%-
#$%,%& :2)*'6%,& /0*.)+*& 1%2402+*B& 5$+/$ .+3%,&.$).&)2%&12%,%*.%3&+*&.$%&/0*.%R.&04 2%,+3%&12+()2+6-&+*&.$%& D),)6&)*3& ,'12);
+*3'/%,& )& 102%& +*& .$%& .)2:%.B& )*3 )*&QaA&/6),,&GD&(06%/'6%&[p)>&+*&(+/%K D),)6&6)-%2,B&04.%*&+*&/60,%&)110,+.+0*&.0
:2)*T-(%,B& ,%2+*%& %,.%2),%,& .$).B& 5$%* $'()*& 6%'M0/-.%& )*.+:%*& e& <a`F;e@& +* `A,9&Q0,.&04&.$%(&)2%&ACciNAC"\&6-(;
+*f%/.%3& +*.0& /%66,B& .2+::%2& .$%& )101.0.+/ $'()*,_9& ACci& #2%:& /%66,& ,'112%,,& # 1$0/-.%,& .$).& D%)2& #A^& N & 3+(%2,9
1).$5)-9& S'/$& :2)*'6%,& )6,0& /0*.)+* /%66,& .$).& $)8%& +*.%2(%3+).%& )4I*+.-& 402 #$%2%&)6,0&%R+,.,&)&(+*02&,'D,%.&04&30';
:2)*'6-,+*B&)&120.%+*&5+.$&)&D20)3&,1%/; ,%64&02&402%+:*&)*.+:%*,&)*3&)2%&12+()2+6- D6%;*%:).+8%& <AC"\NACc\@& +*.2)%1+3%2;
.2'(& 04& )*.+(+/20D+)6& )/.+8+.-& ):)+*,. +*8068%3&+*&,%64;*0*,%64&3+,/2+(+*).+0*9 ()6&#&/%66,&5+.$&#A^,&04&%+.$%2&.$%& N
D)/.%2+)B&4'*:+B&)*3&1)2),+.%,9d>Bd"&G*&.$+, EO#& /%66,&)2%& )& 3+,.+*/.+8%&101'6).+0* 02& .$%& N & 1$%*0.-1%9& #$%+2& 2%6).+0*;
()**%2B& /-.0.0R+/& #& /%66,& /)*& 3+2%/.6- 04& #& /%66,9& #$%-& $)8%& 1201%2.+%,& 04& EO ,$+1B&+4&)*-B&.0&.$%&('2+*%&3%*32+.+/&%1+;
M+66& (+/20D+)6& +*8)3%2,9& H%,+3%,& /0*.2+D; /%66,&D'.B&).&.$%&,)(%&.+(%B&%R12%,,&#A^ 3%2()6&#&/%66&+,&*0.&M*05*9
'.+*:& .0& $0,.& 3%4%*,%& ):)+*,.& +*4%/.+0* N &.$).&/0*,+,.,&04&)*&+*8)2+)*.& &/$)+* #$%&(%/$)*+,(&D-&5$+/$&#&6-(1$0;
)*3& .'(02,B& /-.0.0R+/& #& /%66,& /)*& )6,0 <k !";l p@& 1)+2%3& 5+.$& 8)2+0',& k /-.%,& .2)4I/& +*.0& ,M+*& 3%1%*3,& 0*& )
/0*.2+D'.%&.0&.+,,'%&+*f'2-9&=02&%R)(16%B /$)+*,9&#$%,%&/%66,&,1%/+I/)66-&2%/0:*+T% /$)+*&04&(06%/'6)2&%8%*.,&D%.5%%*&/%66,9
/-.0.0R+/&#&/%66,&2%/0:*+T%&,%64;)*.+:%*, /%2.)+*&.'(02&/%66\),,0/+).%3&02&D)/.%2+)6 G*&,M+*;32)+*+*:&6-(1$&*03%,B&.$%&+*.%2;
04&(%6)*0/-.%,&)*3&.$',&()-&/0*.2+D'.% :6-/06+1+3,& +*& .$%&/0*.%R.&04& AC>& (06%; )/.+0*& 04& *)+8%& #& /%66,& 5+.$& )*.+:%*;
.0&.$%&1).$0:%*%,+,&04&8+.+6+:09dU /'6%,&)*3&)2%& .$%2%402%&+(16+/).%3& +*&.'; D%)2+*:&/'.)*%0',&CA,&<`A,B&CCA,@&2%;
(02+/+3)6&)*3&D)/.%2+/+3)6&$0,.&2%,10*,%, ,'6.,&+*&.$%&+*3'/.+0*&04&.$%&/%66&,'24)/%
?9C>8*;5?P(;(49882 F*&+(102.)*.&.-1% <,%%& AC>;C%1%*3%*.& F*.+:%*& P2%,%*.); (06%/'6%&A`F9>?>
04&+(('*0(03'6).02-&#&/%66,&.$).&/0*; .+0*@9& X*& )*.+:%*+/& ,.+('6).+0*B& EO# A`F& +,& )& :6-/0120.%+*& .$).& 3%I*%,& )
.206,& +(('*%& 2%,10*,%,& +,& .$%&,0;/)66%3 /%66,& 1203'/%& 6)2:%& J')*.+.+%,& 04& /-.0; ,'D,%.& 04& (%(02-& #& /%66,& .$).& $0(%& .0
.%/(3#$-.)& @& 4%33+& F@.%/& 4%33+GB& 402(%26- M+*%,B&1)2.+/'6)26-&G`;"&)*3&G`;>?B&)*3&/)* ,M+*9& A`F& +,& )& :6-/0,-6).%3& 402(& 04& P;
M*05*& ),& @& +(11.%++-.& 4%33+9dW& #2%:& /%66, ',%&.$%(&.0&,'112%,,&#$>&2%,10*,%,9&#$% ,%6%/.+*&:6-/0120.%+*&6+:)*3&>&.$).&+,&%R;
)2%& +*3'/%3& D-& +(().'2%& FPA,NCA, D+060:+/& 2%6%8)*/%& 04& .$%,%& +*& 8+.20& 3).) 12%,,%3& /0*,.+.'.+8%6-& 0*& )66& $'()*& 1%;
)*3&16)-&M%-&206%,&+*&()+*.)+*+*:&.06%2; /)*& D%& 3%3'/%3& 420(& .$%& 0D,%28).+0* 2+1$%2)6&D6003&#&/%66,9&#$%&6%8%6&04&A`F
DEQ
0*& /%66,& +,& 2%:'6).%3& D-& )*& %*T-(%B ).01+/&3%2().+.+,B&)&120(+*%*.&%R)(16% .0&+*3+/).%&.$).&)&,()66&*'(D%2&04&)*.+;
<>BV@;4'/0,-6&.2)*,4%2),%&kGGB&.$).&(03+; 402& )& #$!;(%3+).%3& +(('*%& 2%,10*,%B :%*,& 32+8%& .$%& 60/)6& +*L)(().02-& 2%;
I%,& P;,%6%/.+*& :6-/0120.%+*& 6+:)*3& >9& G* .$+,&/$%(0M+*%&+,&M*05*&.0&D%&'12%:'; ,10*,%9& Y*6+M%& +*& *02()6& $'()*& ,M+*
.$+,&()**%2B&A`Fi&/%66,&D+*3&.0&D0.$&e; 6).%3&+*&D),)6&M%2).+*0/-.%,9>?W 5$0,%& #A^& 2%1%2.0+2%& +,& 2).$%2& 3+8%2;
,%6%/.+*&)*3&P;,%6%/.+*B&,.2%*:.$%*+*:&.$% A#FAONAA`!ZB& )*0.$%2& AA& /$%(0; :%*.B>>>&)&6+(+.%3&#A^&k&:%*%&',):%&$),
+*.%2)/.+0*& D%.5%%*& /+2/'6).+*:& #& /%66, M+*%B& +,& )6,0& /2+.+/)66-& +*8068%3& +*& .$% D%%*&2%102.%3& .0& D%&12%,%*.& +*& .$%& ,M+*
)*3& /'.)*%0',& %*30.$%6+'(B& 5$%2%), $0(+*:& 120/%,,& '*3%2& 1$-,+060:+/& )*3 6%,+0*,& 04& 6%120,-B>>!& 1,02+),+,B>>V& D),)6
A`F\& /%66,& D+*3& P;,%6%/.+*& D'.& 30& *0. +*L)(().02-&/0*3+.+0*,9ZU&G.&+,&/0*,.+.'; /%66&/)2/+*0()B&)*3&/0'*.6%,,&0.$%2&2%)/;
D+*3&e;,%6%/.+*9>?!B>?V .+8%6-& 1203'/%3& D-& D),)6& M%2).+*0/-.%, .+0*,&+*&5$+/$&#&/%66,&)2%&12%,%*.9&a05;
G*& 1).+%*.,& 5+.$& )66%2:+/& /0*.)/.& 3%2; )*3& +,& )6,0& 3+,16)-%3& 0*& .$%& ,'24)/%& 04 %8%2B& +*& *0& +*,.)*/%& $),& .$%& 6+(+.%3& ,%.
().+.+,&<,%%&A$)19&>V@B&.$%&A`Fi&,'D,%.B 3%2()6&%*30.$%6+)6&/%66,9&G.,&%R12%,,+0*&+, 04&)*.+:%*,&D%%*&3%I*%3&)*3&/022%6).%3
D'.&*0.&.$%&A`F\&,'D,%.B&/0*.)+*,&.$%&# '12%:'6).%3& D-& G`;> & )*3& #E=; & )*3 5+.$&.$%&#A^&',):%9
/%66,&5+.$&.$%&/)1)/+.-&.0&2%,10*3&.0&.$% 305*2%:'6).%3& D-& :6'/0/02.+/0,.%20+3,9 #$%&(0,.&3+2%/.&+*3+/).+0*&04&2%6%8)*.
)66%2:%*9>?"& ='2.$%2(02%B& (02%& .$)*& d? #$%& 2%/%1.02& 402& AA`!ZB& AA^>?B& +,& %R; #;/%66& 101'6).+0*,& +*& ,M+*& +,& 3%.%2(+*);
1%2/%*.& 04& #& /%66,& +*& +*L)(().02-& ,M+* 12%,,%3&0*&A`Fi&#&/%66,B&)*3&+*&8+80&%R; .+0*&04&.$%&*'(D%2&04&#&/%66,&.$).&2%/0:;
3+,%),%& )2%& A`Fi9& A`F& 4)/+6+.).%,& .$% 1%2+(%*.,& $)8%& 3%(0*,.2).%3& )& 1+80.)6 *+T%&.$%&)*.+:%*9&G.&$),&D%%*&30/'(%*.%3
%*.2-& 04& #& 6-(1$0/-.%,& +*.0& ,M+*& D- 206%&402&AA`!Z;AA^>?&+*.%2)/.+0*,&+*&# .$).&>&+*&>???&.0&>&+*&>?B???&#&/%66,&+*&.$%
(%3+).+*:& .%.$%2+*:& )*3& 2066+*:& 04& # /%66\(%3+).%3&,M+*&+*L)(().+0*9>?Z 1%2+1$%2)6& D6003& 2%/0:*+T%& )& :+8%*& )*.+;
/%66,& 0*& 8),/'6)2& %*30.$%6+)6& /%66, F3$%,+0*& (06%/'6%& +*.%2)/.+0*,& .$). :%*9&G*&.$%&,M+*B&$05%8%2B&)1120R+().%6-
.$20':$& D+*3+*:& .0& e;,%6%/.+*9& A$%(0; $%61&.0&)*/$02&#&/%66,&+*&.$%&%1+3%2(+,&+*; >&+*&U?&.0&>&+*&>??&#&/%66,&2%/0:*+T%&.$%
M+*%,& 2%6%),%3& D-& .$%& %*30.$%6+)6& /%66, /6'3%&.$%&)..)/$(%*.&04&`=F;>&<AC>>)@\ )*.+:%*& /)',+*:& .$%& 3+,%),%9>>"B>>U& #$',
+*/2%),%&.$%&D+*3+*:&)4I*+.-&04&#;/%66&)3; D%)2+*:&#&/%66,&.0&GAFQ;>i&<ACU"@&M%2).; .$%2%& +,& ),& ('/$& ),& )& >??;4063& %*2+/$;
$%,+0*& (06%/'6%,9& #& /%66,& I2(6-& )3$%2% +*0/-.%,& +*& +*L)(%3& ,M+*& )*3B& (02% (%*.& 04& )*.+:%*;2%)/.+8%& #& /%66,& ).& .$%
.0& %*30.$%6+'(& D-& .$%& +*.%2)/.+0*& 04 1$-,+060:+/)66-B& .$%& e Z;e;/)3$%2+*\ ,+.%&04&/'.)*%0',&+*L)(().+0*9
6-(1$0/-.%& 4'*/.+0*\),,0/+).%3& )*.+; (%3+).%3& D+*3+*:& 04& #& /%66,& .0& *0*)/.+; b+.$&2%:)23&.0&,'28+8)6&)*3N02&%R1)*;
:%*& >& <`=F;>@& 5+.$& GAFQ;>& )*3& 8%2- 8).%3&M%2).+*0/-.%,9 ,+0*&04&#&/%66,&04&$'()*&,M+*N%1+3%2(+,B
6).%& )*.+:%*& "& 5+.$& 8),/'6)2& /%66& )3$%; #$%&)//'('6).+0*&04&#&/%66,&+*&,M+*&+, +.& )11%)2,& .$).& G`;!B& G`;ZB& )*3& G`;>U>>>
,+0*&(06%/'6%9&#$%&+*.%2)/.+0*&5+.$&.$% *0.&,.0/$),.+/9&G.&+,&)D'*3)*.6-&/6%)2&.$). 16)-& +(102.)*.& 206%,9& #$%& 6)..%2& .50& #;
%*30.$%6+)6& /%66,& +,& *05& ,'4I/+%*.6- ,1%/+I/&101'6).+0*,&04&#&/%66,B&+3%*.+I%3 /%66& :205.$& 4)/.02,& /)*&D%& 1203'/%3& D-
,.20*:&.0&1%2(+.&.2)*,(+:2).+0*&04&.$%&# D-& /%66& ,'24)/%& 3%.%2(+*)*.,& )*3& .$%+2 $'()*&%1+3%2()6&/%66,B&)*3&)66&)2%&08%2;
/%66,&+*.0&.$%&,M+*&)*3&)6605&.$%+2&1)2.+/; /-.0M+*%& 120I6%B& 60/)6+T%& .0& .$%& ,M+*9 %R12%,,%3& +*& #& /%66\2+/$& ,M+*& 6%,+0*,& 04
+1).+0*&+*&.$%&+*L)(().02-&120/%,,9 k)2+0',& /%66& ,'24)/%& 3%.%2(+*)*.,& 0*& # 1).+%*.,&5+.$&.'D%2/'60+3&6%120,-9
F&3+8%2,+.-&04&/$%(0M+*%,&<,%%&A$)19 /%66,& )6605& 3%.%/.+0*& 04& .$%+2& 12%,%*/%9 #$%& #$>N#$!& 1)2)3+:(& 1208+3%,& +*;
>!@& /0*.2+D'.%,& .0& .+,,'%;,1%/+I/& #;/%66 G*+.+)66-B& 4'*/.+0*)6& #;/%66& 101'6).+0*, ,+:$.& +*.0& .$%& 1).$0:%*%,+,& 04& ()*-
$0(+*:9&`%'M0/-.%,&)*3&*0*6%'M0/-.%, /0'63&D%&3%6+*%).%3&+*&,M+*&)//023+*:&.0 ,M+*& 3+,%),%,& +*& 5$+/$& #& /%66,& $)8%& )*
2%,+3+*:&+*&.$%&,M+*&/)*&1203'/%&/$%(0; .$%+2& %R12%,,+0*& 04& .$%& AC"& )*3& ACc +(('*060:+/& 206%9& #$%2%& +,& )(16%& %8+;
M+*%,& 5+.$& #;/%66& /$%(0.)/.+/& 1201%2; (06%/'6%,9&G*&.$%&()f02+.-&04&+*L)((); 3%*/%&.$).&.$%&#$>N#$!&1)2)3+:(&+,&*0.
.+%,B& ,'/$& ),& G`;cNAoA& /$%(0M+*%& 6+; .02-&/0*3+.+0*,&,.'3+%3B&+*/6'3+*:&6+/$%* 2+:+3K& .$%2%& )2%& ,+.').+0*,& +*& 5$+/$& )
:)*3& c& <AoA`c@B& ]20& NAoA`>B& G=E; 16)*',B&1,02+),+,B&)*3&).01+/&3%2().+.+,B (+R.'2%& 04& /-.0M+*%,& +,& 40'*3& )*3& %R;
+*3'/+D6%& 120.%+*;>?NAoA`>?B& (0*0; AC"i& #& /%66,& 0'.*'(D%2& ACci& #& /%66,B )(16%,& 04& #;/%66& /60*%,B& M*05*& ),& @2B
M+*%& +*3'/%3& D-& G=E; NAoA`dB& ()/20; +*& 120102.+0*,& ,+(+6)2& .0& 02& ,0(%5$). 4%33+B& .$).& ,%/2%.%& )& /0(D+*).+0*& 04& #$>
1$):%&/$%(0)..2)/.)*.&120.%+*;>&<QAP; :2%).%2&.$)*&.$0,%&,%%*&+*&.$%&1%2+1$%2)6 )*3& #$!& /-.0M+*%,9& a05%8%2B& +.& $),
>@NAA`!B& QAP;!NAA`cB& QAP;VNAA`ZB D60039&a05%8%2B&+*&.$%&,.'3-&04&.$%&,M+* D%%*& 10,,+D6%& .0& I*3& )& *'(D%2& 04& 3%2;
2%:'6).%3&0*&)/.+8).+0*&*02()6&#;/%66&%R; 6%,+0*,&04&$'()*& 6%120,-B& AC"i& #&/%66, ().060:+/& /0*3+.+0*,& +*& 5$+/$& %+.$%2& )
12%,,%3& )*3& ,%/2%.%3& <^FE#eS@NAA`UB 5%2%&40'*3&.0&D%&12%30(+*)*.&+*&.$%&.'; #$>& 02& #$!& /-.0M+*%& 1)..%2*& 12%30(+;
QGP;> NAA`VB&QGP;> NAA`"B&)*3&6-(; D%2/'60+3& 402(& 04& .$%& 3+,%),%B& 5$%2%), *).%,9& G*& .$%& 2%)6(& 04& /'.)*%0',& +*4%/;
1$0.)/.+*NoA`>9 ACci&#&/%66,&5%2%&40'*3&.0&D%&12%30(+; .+0*B&6%120,-&<,%%&#&a%61%2&>N#&a%61%2&!
X4&1)2.+/'6)2&+(102.)*/%&402&,M+*&$0(; *)*.&+*&.$%&6%120().0',&402(&04&.$%&3+,; P)2)3+:(@& )*3& 6%+,$()*+),+,& )2%& 0'.;
+*:& 04& (%(02-& #& /%66,& +,& .$%& +*.%2)/.+0* %),%9>?c& H%/)',%& )66& 6%120,-& 1).+%*., ,.)*3+*:& %R)(16%,& 04& 3+,%),%,& 5+.$& )
04& #F^ANAA`>Z& )*3& A#FAONAA`!Z $)8%&)*&%R/%,,&04&AC"i&#&/%66,&+*&.$%+2 /6+*+/)6&,1%/.2'(&+*&5$+/$&#$>&)*3&#$!
5+.$& .$%+2& /022%,10*3+*:& /$%(0M+*%& 2%; D6003B&.$%&)D'*3)*/%&04&ACci&#&/%66,&+* /-.0M+*%,& )11%)2& .0& $)8%& )& 1).$0:%*+/
/%1.02,& 0*& A`Fi& #& /%66,B& AA^"& )*3 6%120().0',& ,M+*& 6%,+0*,& 1208+3%,& /6%)2 206%9&`%+,$()*+),+,B&6+M%&6%120,-B&+,&*0.&)
AA^>?B&2%,1%/.+8%6-9 %8+3%*/%& 402& .$%& ,1%/+I/& )//'('6).+0* ,+*:6%&3+,%),%&%*.+.-&D'.&)&,%.&04&/6+*+/)6
#$%& AA& /$%(0M+*%& #F^ANAA`>Z& +, 04&#;/%66&101'6).+0*,&+*&,M+*9 %*.+.+%,B&%)/$&5+.$&)&3+44%2+*:&+(('*0;
%R12%,,%3& D-& 8),/'6)2& %*30.$%6+)6& /%66, F&1%2$)1,&(02%&2%6%8)*.&()2M%2&04&#; 1).$0:%*%,+,9& F,& +*& 6%120,-B& .$%& .-1%& >
04& 8%*'6%,& +*& *02()6& )*3& +*L)(%3& $'; /%66&101'6).+0*,&+,&.$%&3+8%2,+.-&04&.$%+2 /-.0M+*%& 1)..%2*& +,& /$)2)/.%2+,.+/& 04
()*& ,M+*>?U& <,%%& A$)19& >WV@9& A`Fi #A^,9& #$%& /6%)2%,.& %R)(16%& +,& .$% 6%+,$()*+),+,&6%,+0*,&<,%%&A$)19&!?W@&+*
(%(02-&#&/%66,&+*&1%2+1$%2)6&D6003&3+,; /60*)6+.-& 04& .$%&#;/%66&101'6).+0*&+*&/'; 5$+/$&AQG&.0&.$%&1)2),+.%&+,&,.20*:&)*3
16)-+*:&AA^"&)3$%2%&.0&/'.)*%0',&8%,; .)*%0',& #;/%66& 6-(1$0()B& +*& 5$+/$& ) .$%& 6%,+0*,& ,%64;/'2%K& .$%& .-1%& !& 1)..%2*
,%6,& 8+)& #F^ANAA`>Z;+*3'/%3& D+*3+*: ,+*:6%&k&:%*%&',):%&+,&40'*3&.0&12%30(; .-1+I%,& 6%,+0*,& +*& 5$+/$& +(('*+.-& .0
.0&GAFQ;>&)*3&)2%&.$%2%D-&)..2)/.%3&.0 +*).%& +*& 3+44%2%*.& ,M+*& 6%,+0*,& 420(& .$% .$%& 1)2),+.%& +,& 5%)M& )*3& .$%& /'.)*%0',
.$%&,M+*9&G*&)33+.+0*B&.$%&2%/2'+.(%*.&04 ,)(%&+*3+8+3')6>?dB>>?&<,%%&A$)19&>"W@9 6%,+0*,& )2%& 120:2%,,+8%9>>ZB>>c& S.'3+%,& +*
.-1%& !& <#$!@& #& /%66,& +*.0& 3+,%),%3& ,M+* #$%& 30(+*)*.& %R12%,,+0*& 04& ,%8%2)6 )*+()6& (03%6,& ,'::%,.& .$).& +.& ()-& D%
/)*& D%& (%3+).%3& D-& #F^ANAA`>Z9& G* #A^& k& :%*%,& +*& )*& +*I6.2).%& +,& .$0':$. 10,,+D6%&.0&+*3'/%&%44%/.+8%&AQG&D-&8)/;
DE"
/+*).+0*&',+*:&)&/0(D+*).+0*&04&1)2),+.% #$%& ,+.').+0*&+*& .$%& %6+/+.).+0*& 1$),%& +, %):%;*%:).+8%& <`+*\@B& D0*%& ()2205\
)*.+:%*,&)*3&2%/0(D+*)*.&G`;>!9>>d&#$+, 6%,,& /6%)29& G*& *+/M%6& /0*.)/.& 3%2().+.+,B 3%2+8%3& 6%'M0/-.%,& %*305%3& 5+.$& %R;
+(('*0.$%2)1%'.+/& ,.2).%:-& %*:%*3%2, )*.+:%*;,1%/+I/& #$>;.-1%& #;/%66& /60*%, J'+,+.%& (+:2).02-& )*3& )*.+:%*;12%,%*.;
)&#$>&/-.0M+*%&2%,10*,%9&#$>&2%,10*,%, 5%2%&3%,/2+D%3B>V!&),&5%2%&#$!;.-1%&+*; +*:& 1201%2.+%,9& #$',B& .$%-& 1$%*0.-1+;
)2%& +*8068%3& +*& +(('*060:+/& 2%,+,.)*/% I6.2).+*:&#&/%66,&+*&6%,+0*)6&,M+*9>VV /)66-& )*3& 4'*/.+0*)66-& 2%,%(D6%& 0.$%2
.0 I-..%3!#& 6(./,-.:%.!>!?& )*3& @.%1-"%'# #$>N#$!& 2%,10*,%,& ()-& D%& +*8068%3 CA,& 12%,%*.& +*& (0,.B& +4& *0.& )66B& 6-(;
1#33!,('B>!>& .$%& /)',).+8%& ):%*.,& 04 +*&)*.+.'(02&+(('*+.-9&=02&%R)(16%B&G`; 1$0+3& )*3& *0*6-(1$0+3& .+,,'%,9>"?& F,
`-(%&3+,%),%&)*3&,-1$+6+,B&2%,1%/.+8%6-9 "& )*3& G`;>?& 12%30(+*).%& +*& .$%& 6%,+0*, .$%&:).%M%%1%2,&04&.$%&+(('*%&,-,.%(B
A0*/%1.,& 04& .$%& 1).$0:%*%,+,& 04 04& D),)6& /%66& )*3& ,J')(0',& /%66& /)2/+; .$%-&/0*.206&.$%&2%,10*,%&.0&%8%*.,&1%2;
).01+/&3%2().+.+,&<,%%&A$)19&>"@&+*/6'3% *0()B& 5$%2%),& .$%& #$>& 2%,10*,%& +, .'2D+*:&.+,,'%&$0(%0,.),+,&<=+:9&>?;WF@9
)&/%*.2)6&206%&402&)66%2:%*;,1%/+I/&#&/%66, 12%,%*.& +*& D%*+:*& *%016),(,U"& <,%%
.$).& 1203'/%& #$!& 02& .-1%& !& /-.0M+*%,B A$)1,9&>>"&)*3&>>U@9&#$%&,0'2/%&04&.$% 7L9:5;P7#4( 7?579?;#92( 5B( 2N#:FA5>:@
+*/6'3+*:&G`;"&)*3&G`;U9&F66%2:%*;,1%/+I/ G`;>?& +*& .$%,%& /'.)*%0',& /)2/+*0(),& +, 8*:C9?L*:2( 49882( *:@( @9?6*8( @9:F
#& /%66,& 5+.$& .$+,& /-.0M+*%& 120I6%& $)8% .$%&.'(02&+.,%64B&)&(%/$)*+,(&D-&5$+/$ @?#;#4(49882 #$%& %R12%,,+0*& 04& .$%
D%%*& 3%(0*,.2).%3& +*& .$%& 1%2+1$%2)6 .$%& /)*/%2& /)*& 305*2%:'6).%& )*.+.'(02 A)!i;3%1%*3%*.&6%/.+*&`)*:%2+*&&<AC!?Z@
D6003& )*3& ,M+*& 6%,+0*,& 04& ,'Df%/.,& 5+.$ #;/%66&2%,10*,%,9&b+.$+*&.$%&,1%/.2'(&04 +,& /'22%*.6-& .$%& ,+*:6%& D%,.& 4%).'2%& 3+,;
)/.+8%&3+,%),%9>!!\>!"&G*&)33+.+0*B&.$%&6%; /'.)*%0',& #;/%66& 6-(1$0()B& (-/0,+, /2+(+*).+*:& `A,& 420(& 0.$%2& /%66,9& `)*:;
,+0*,&04&).01+/&3%2().+.+,&/0*.)+*&)D'*; 4'*:0+3%,&2%12%,%*.,&)&#$>&/-.0M+*%&2%; %2+*&+,&)&.2)*,(%(D2)*%&(06%/'6%&),,0;
3)*.& %R12%,,+0*& 04& G`;>?B& )6.$0':$& .$% ,10*,%B&5$%2%),&1).+%*.,&5+.$&.$%&(02% /+).%3& 5+.$& )*3& ,'4I/+%*.& .0& 402(
,0'2/%&04&.$+,&/-.0M+*%&+,&6+M%6-&.0&D%&.+,; 120:2%,,+8%& SjT)2-& ,-*320(%& %R$+D+.& ) H+2D%/M&:2)*'6%,B&.$%&120.0.-1+/&)*3&/%66
,'%& ()/201$):%,& )*3& M%2).+*0/-.%,9>!U #$!& /-.0M+*%& 2%,10*,%>V"& <,%%& A$)19 .-1%\3%I*+*:&02:)*%66%,&04&`A,&<,%%&=+:9
#$%&#$!&1)..%2*&04&/-.0M+*%,&.0:%.$%2&+, >"W@9&G.&5),&02+:+*)66-&),,'(%3&.$).&#$> >?;WH@9& H+2D%/M& :2)*'6%,& )2%& 1%*.+6)(+;
.$0':$.& .0& +*3'/%& +*/2%),%3& G:& 1203'/; /-.0M+*%& 2%,10*,%,& 12%30(+*).%& +*& +*; *)2& /-.016),(+/& ,.2'/.'2%,& 42%J'%*.6-
.+0*B& 1)2.+/'6)26-& 04& G:eB& (),.& /%66 8068%3& )*3B& .0& )& 6%,,%2& %R.%*.B& '*+*; 3+,16)-+*:& )& .%**+,& 2)/M%.& ,$)1%& ).& .$%
:205.$B& )*3& .$%& +*I6.2).+0*& 04& %0,+*0; 8068%3&,M+*&04&1).+%*.,&5+.$&1,02+),+,9>VU '6.2),.2'/.'2)6& 6%8%69& #$%& )33+.+0*)6
1$+6,9& #$%,%&/-.0M+*%,& ()-& )6,0&305*; Q02%& 2%/%*.& %8+3%*/%& ,'::%,.,& .$).& G`; 12%,%*/%&04&`)*:%2+*&0*&.$%&`A&/%66&,'2;
2%:'6).%& #$>& 2%,10*,%,B& 5$+/$& 50'63 !VB&2).$%2&.$)*&G`;>!B&+,&.$%&M%-&/-.0M+*% 4)/%&/0'16%3&5+.$&+.,&D+*3+*:&,1%/+I/+.-
)//0'*.& 402& .$%& +*/2%),%3& ,',/%1.+D+6+.- +*&.$+,&3+,%),%>VW&)*3&.$).&+.&%R%2.,&+.,&%4; 402& ()**0,%& ,'::%,.,& .$).& `)*:%2+*& +,
.0&/'.)*%0',&D)/.%2+)6&+*4%/.+0*9 4%/.,& D-& .2+::%2+*:& G`;!!& 1203'/.+0*& D- +*8068%3& +*& .$%& '1.)M%& 04& ()**0,%;
e8+3%*/%&,'::%,.,&.$).&12'2+.',B&)&M%- #$>Z& /%66,B& 5$+/$& 2%,'6.,& +*& 3%2()6& +*; /0*.)+*+*:&1).$0:%*,&D-&`A,9&a05%8%2B
,-(1.0(&04&).01+/&3%2().+.+,B&()-&)6,0 L)(().+0*&)*3&)/)*.$0,+,9>VZ&F6.$0':$ .$%& 3+,2'1.+0*& 04& .$%& `)*:%2+*& :%*%& +*
D%&6+*M%3& .0&.$%& #$!& 2%,10*,%9& #$%&/-; +.&+,&'*/%2.)+*B&.$%,%&#$>Z&/%66,&()-&D% %R1%2+(%*.)6&)*+()6,&30%,&*0.&2%,'6.&+*
.0M+*%&G`;V>&+*3'/%,&,%8%2%&12'2+.',&)*3 )'.0+(('*%B& 2%,10*3+*:& .0& ,%64;)*.+; )& ()2M%3& 60,,& +*& `A& 4'*/.+0*)6+.-9>">
3%2().+.+,& +*& (+/%& )*3& +,& 12%4%2%*.+)66- :%*,&+*&.$%&%1+3%2(+,9 E0.)D6-B&`)*:%2+*&+,&%R12%,,%3&0*&8+2.';
%R12%,,%3& +*& #$!& /%66,9& a'()*& G`;V>& +, b$).%8%2&.$%&206%&402&.$%&0D,%28%3&/-; )66-&)66&`A,&+*&,.2).+I%3&%1+.$%6+)&),&5%66
,+:*+I/)*.6-& '12%:'6).%3& +*& 12'2+.+/ .0M+*%& 1)..%2*,& +*& $'()*& 3+,%),%B& .$% ),& 0*& )& ()f02& ,'D,%.& 04& CA,& +*& .$%
402(,&04&,M+*&+*L)(().+0*&<).01+/&3%2; #$>;#$!;#$>Z& 1)2)3+:(& %R10,%,& *%5 6'*:B>"!& 5$+/$& ()-& 02& ()-& *0.& D%& 3+;
().+.+,B& 12'2+:0& *03'6)2+,@& D'.& *0.& +* .)2:%.,&402&.$%2)1-9+)6,&)2%&'*3%2&5)- 2%/.6-&2%6).%3&.0&%1+3%2()6&`A,9
*0*;12'2+.+/&402(,&<1,02+),+,@B&)*3&/+2/'; .0& %R160+.& .$+,& M*056%3:%& .$20':$& .$% #$%& %R12%,,+0*& 04& )33+.+0*)6& (06%;
6).+*:&A`Fi&(%(02-&#&/%66,&04&1).+%*., ',%&04&/-.0M+*%&):0*+,.,&)*3&)*.):0*+,., /'6%,&D%,+3%,&`)*:%2+*&)6605,&.$%&+3%*.+;
5+.$& ).01+/& 3%2().+.+,& 1203'/%& $+:$%2 .0&,$+4.&.$%&D)6)*/%&D%.5%%*&.$%&3+44%2%*. I/).+0*& 04& `A,& 5+.$+*& *02()6& '*1%2;
6%8%6,&04&G`;V>&.$).&.$%&#&/%66,&04&30*02, #$&1)..%2*,&402&.$%&D%*%I.&04&.$%&1).+%*.9 .'2D%3& %1+3%2(+,9& #$%,%& +*/6'3%& AC>)K
5+.$&1,02+),+,9>!WB>!Z .$%& QaA& /6),,& GG& )*.+:%*,& a`F;C^B
A6+*+/)6& .2+)6,& )..%(1.+*:& .0& )6.%2& .$% 8/*,'%M/*#(A'II#(/*&( a`F;CpB& )*3& a`F;CPK& )*3& ACVdB& )
#$!&2%,10*,%&+*&).01+/&3%2().+.+,&.$20':$ (%(D2)*%;D0'*3B&402()6+*;2%,+,.)*.B&,'64;
.$%&)3(+*+,.2).+0*& 04&G=E; &$)8%&,$05*
;+M'%(!'*&%"+"2(A'II# $-32-6;3%1%*3%*.& )3%*0,+*%& .2+1$0,1$);
.$).& .$+,& .2%).(%*.& +*3'/%,& ,+:*+I/)*. @9B#:#;#5: G*&>cWcB&.$%&(%3+/)6&,.'3%*. .),%&<F#P),%@9
D'.&(03%,.&/6+*+/)6&+(1208%(%*.&D'.&*0 P)'6& `)*:%2$)*,B& 32+8%*& D-& $+,& +*.%2%,. CCA,& )2%& 1$%*0.-1+/)66-& 6%,,& 5%66
2%3'/.+0*& +*& G:e& 6%8%6,& +*& ,0(%& 1); +*&.$%&)*).0(-&04&,M+*&*%28%,B&+3%*.+I%3 /$)2)/.%2+T%39& #$%+2& D%,.& ()2M%2,& )2%
.+%*.,9>!c& #$+,& 5),& *0.%502.$-B& D%/)',% )& 101'6).+0*& 04& 3%*32+.+/)66-& ,$)1%3 120D)D6-&.$%&(06%/'6%,&AC>D&)*3&AC>/
#$!&/-.0M+*%,&$%61&H&/%66,&1203'/%&)'.0; /%66,&+*&.$%&,'12)D),)6&2%:+0*,&04&.$%&%1+; ),& 5%66& ),& .$%& ,'D'*+.& F& 04& .$%& /60..+*:
)*.+D03+%,& +*& 1%(1$+:',& 8'6:)2+,>!d& <,%% 3%2(+,& )4.%2& +(12%:*).+*:& $'()*& ,M+* 120%*T-(%& 4)/.02& oGGG& <4)/.02& oGGG)@9
A$)19&U!@9&#$%&D%*%I/+)6&%44%/.&04&G=E; 5+.$& :063& ,)6.,9>Vc& #$%,%& /%66,B& 5$+/$ CCA,&/)*&D%&3+,.+*:'+,$%3&420(&`A,&D-
/)(%&),&,0(%5$).&04&)&,'212+,%&+*&.$).&) 6).%2&5%2%&40'*3&+*&8+2.')66-&)66&,.2).+I%3 .$%& )D,%*/%& 04& `)*:%2+*& %R12%,,+0*& )*3
(%3+).02& ,$+4.& $),& D%%*& 3%,/2+D%3& +* ,J')(0',& %1+.$%6+)& 04& ()(()6,B& )2% H+2D%/M&:2)*'6%,B&)*3&420(&()/201$):%,
).01+/& 3%2().+.+,B& 5+.$& #$!& /-.0M+*%, *05&%10*-(0',6-&2%4%22%3&.0&),&?#"/%.7 D-& .$%& )D'*3)*.& %R12%,,+0*& 04& QaA
30(+*).+*:&+*&)/'.%&6%,+0*,&)*3&#$>&/-; 2#"+& 4%33+9& #$%2%& )6,0& %R+,.& ,'D,.)*.+)6 /6),,&GG&(06%/'6%,B&CeA!?UNAC!?UB&)*3
.0M+*%,&+*&/$20*+/&6%,+0*,9>V? *'(D%2,& 04& 3%*32+.+/& 6%'M0/-.%,& +*& .$% .$%& )D,%*/%& 04& 1$):06-,0,0(%,& ).& .$%
G*& )66%2:+/& /0*.)/.& 3%2().+.+,& <,%% 3%2(+,9& F6.$0':$& ,0(%& 04& .$%(& 2%12%; '6.2),.2'/.'2)6&6%8%69
A$)19&>V@B&,%*,+.+T).+0*&+*8068%,&.$%&3%; ,%*.&`A,&0*&.$%+2&5)-&+*.0&02&0'.&04&.$%
8%601(%*.& 04& )& #$>& 2%,10*,%B& ),& %8+; %1+3%2(+,B& (0,.& 04& .$%,%& /%66,& )2%& 1$%; ;#22>9( @#2;?#A>;#5:( 5B( 8*:C9?L*:2
3%*/%3& D-& .$%& 12%30(+*).+*:& G`;!& )*3 *0.-1+/)66-& ,6+:$.6-& 3+44%2%*.& 420(& `A, 49882(*:@(@9?6*8(@9:@?#;#4(49882 G*
G=E; &1203'/.+0*&04&('2+*%&#&/%66,&,%*; )*3& )2%& :%*%2)66-& 2%4%22%3& .0& ),& ,%.'#3 .$%&%1+3%2(+,B&.$%&3%*,+.-&04&.$%&`A
,+.+T%3& +*& 8+.20& .0& $)1.%*).%3& FPA,9>V> ,%",.!$!4& 4%33+9>Vd& `A,& )*3& CCA,& )2%& 6+*; 101'6).+0*&8)2+%,&2%:+0*)66-&+*&$'()*
DE=
*
B#C>?9(DEF= *X(8/*,'%M/*#(2'II#("*(/(#M''+
O%'O/%/+"$*( $N( 31%"*'( 'O"&'%3"#( /#( %'R'/I'&( 4K
/*+"f3/b$%(M"#+$2$3O/+"4"I"+K(2$3OI'X(2I/##(55(SZ1@
$%'#2'"*("#$+M"$2K/*/+'T("331*$#+/"*"*,H(AX(>I'2@
+%$*( 3"2%$,%/OM( $N( /( 8/*,'%M/*#( 2'II( "*( M13/*
'O"&'%3"#H(!""#$%(&'*$+'(?"%4'2.(,%/*1I'#H(6(a
*12I'1#H(S7%$3(-+"*,I(CY(6'[(/#O'2+#($N(8/*,'%@
M/*#(2'II(N1*2+"$*#H(&'()*)+,"-.(#/ D!YFghU(FhgGU
["+M( O'%3"##"$*HT( &'%,(0( E",M@O$['%( 'I'2+%$*( 3"@
2%$,%/OM($N(?"%4'2.(,%/*1I'#H(:M'(12"3,4).""#$%
"*&"2/+'(+M'(d"OO'%@I".'(N1#"$*($N(+M'(N1ddK(2$/+#($N
+M'(R'#"21I/%(O$%+"$*($N(+M'(,%/*1I'H(:M'(&'I"3"+"*,
3'34%/*'( '*R'I$O#( +[$( #M''+#( $N( O/%+"2I'#( /+@
+/2M'&( +$( "+( /*&( /( 2'*+%/I( I/3'II/( 2$3O$#'&( $N
+[$(I"*'/%(/%%/K#($N(O/%+"2I'#H(S7%$3(i$INN(LY(:M'
W*'( #+%12+1%'( $N( +M'( 8/*,'%M/*#( 2'II( ,%/*1I'H( *
5,//)67#/ O"Y\jjU(FhjcU(["+M(O'%3"##"$*HT A
,'::%,.&.$).& )& 12%/'2,02&/%66& 101'6).+0* 0*&AA^!\&D'.&*0.&AA^W;3%1%*3%*.&/%66 .$%& ,M+*9& #$%,%& +*/6'3%& 16),()/-.0+3
2%,+3%,& +*& .$%& 3%2(+,& .$).& +,& %*:):%3 (+:2).+0*9>"d&#$',B&AA^W&)*3&+.,&6+:)*3 CA,& <1CA,@& )*3& CA,& .$).& 1$%*0.-1+;
/0*,.)*.6-&+*&.$%&,%64;2%*%5)6&04&.$%&%1+; QGP;V NAA`!?&()-&D%&%,,%*.+)6&402&%1+; /)66-& 2%,%(D6%& (-%60+3& CA,& 04& .$%& 1%;
3%2()6&`A&101'6).+0*&'*3%2&*0*+*L)(; 3%2()6&`A&60/)6+T).+0*&+*&8+80B&),&10,.'; 2+1$%2)6& D60039& #$%& 1CA,& )2%& CA& 12%;
().02-&/0*3+.+0*,9&#$%&12+(%&/)*3+3).% 6).%3&12%8+0',6-&+*&,.'3+%,&04&`A,&3+44%2; /'2,02,&.$).&)2%&/$)2)/.%2+T%3&D-&)&$+:$6-
`A& 12%/'2,02,& )2%& 3%2()6& AC>"iN %*.+).%3&420(&$'()*&120:%*+.02&/%66,&+* 3%8%601%3&%*3016),(+/&2%.+/'6'(B&5$+/$
AC>>/i& /%66,& .$).& $)8%& .$%& 10.%*.+)6& .0 8+.209ZW& #$%& )/.+0*& 04& QGP;V NAA`!? 2%,'6.,& +*& .$%+2& 16),()& /%66;6+M%& )11%)2;
3+44%2%*.+).%&+*&8+.20&+*.0&`A,&+*&)&#]=; ()-& D%& ),,+,.%3& 02& 2%16)/%3& '*3%2& *0*; )*/%9>Uc& ='*/.+0*)66-B& 1CA,& 3+,16)-& )
>\3%1%*3%*.&4),$+0*9>UV +*L)(().02-& ,+.').+0*,& D-& .$%& /$%(0; '*+J'%& )D+6+.-& .0& 1203'/%& %*02(0',
Y*3%2& +*L)(().02-& /0*3+.+0*,& <%9:9B M+*%& H^FONAoA`>"B& 5$+/$& +,& /0*,.+.'; )(0'*.,& 04& *).'2)6& G=E,& +*& 2%,10*,%& .0
Yk&2)3+).+0*&%R10,'2%B&:2)4.;8%2,',;$0,. .+8%6-&1203'/%3&D-&M%2).+*0/-.%,9>UU&#$% #`^& 6+:)*3,& )*3& .$',& 5%2%& )6,0& *)(%3
3+,%),%@B& )*& )33+.+0*)6& 1).$5)-& 04& %1+; 3+44%2%*.+).+0*& ,.):%& 04& .$%& D+060:+/)66- 1.!"4!1#3&$)1%&C&JKL71.-,(4!"/&4%33+9>Ud&Y*;
3%2()6& `A& 2%/2'+.(%*.& D%/0(%,& 01%2); 2%6%8)*.&/+2/'6).+*:&`A&12%/'2,02,&%*.%2; 3%2& $0(%0,.).+/& /0*3+.+0*,B& 1CA,& )2%
.+8%9&G*&.$+,&,+.').+0*B&`A&12%/'2,02,&%*; +*:& +*L)(%3& ,M+*& +*& 8+80& 2%()+*,& .0& D% 40'*3&+*&1%2+1$%2)6&D6003&)*3&#&/%66\2+/$
.%2& .$%& .+,,'%B& )*3& .$%+2& 120:%*- 2%,068%39& a05%8%2B& %8+3%*/%& %R+,.,& .$). )2%),& 04& ,%/0*3)2-& 6-(1$).+/& .+,,'%9& G*
101'6).%& .$%& %1+3%2(+,& +*& )& 4),$+0*& 3%; /0((0*& (-%60+3& 120:%*+.02,B& :2)*'60; /%2.)+*& .-1%,& 04& ,M+*& +*L)(().+0*& <%9:9B
1%*3%*.& 0*& /$%(0)..2)/.+0*& (%3+).%3 /-.%;()/201$):%& 120:%*+.02,B& (0*0; 8+2',& +*4%/.+0*B& 6'1',& %2-.$%().0,',B
D-& `A;%R12%,,%3& /$%(0M+*%& 2%/%1.02, /-.%,B&)*3&%8%*&/0((0*&6-(1$0+3&120; 1,02+),+,B& )66%2:+/& /0*.)/.& 3%2().+.+,B
AA^!& )*3& AA^WB>U"& .$%& 6+:)*3,& 04 :%*+.02,& /)*& :+8%& 2+,%& .0& .$%& %(%2:%*/% ).01+/& 3%2().+.+,@B& 1CA,& %*.%2& .$%& ,M+*
5$+/$& )2%& ,%/2%.%3& D-& %*30.$%6+)6& /%66, 04&)*&%1+3%2()6&`A&101'6).+0*&+*&%R1%2+; +*& )& 4),$+0*& .$).& %*:):%,& .$%& AoA& /$%;
)*3& M%2).+*0/-.%,9& G*.%2%,.+*:6-B& )& ,+(+; (%*.)6&)*+()6,9>UWB>UZ (0M+*%& 2%/%1.02& AoA^V9>W?B>W>& b+.$+*
6)2&1).$5)-&04&+*L)(().+0*;3%1%*3%*. Y*3%2& +*L)(().02-& /0*3+.+0*,B& CA .$%& ,M+*B& 1CA,& 60/)6+T%& +*& 1%2+8),/'6)2
12%/'2,02& 2%/2'+.(%*.& %R+,.,& 402& CCA,B .-1%,& .$).& )2%& *0.& 2%,+3%*.,& 04& .$%& *02; /6',.%2,& 5+.$& #& /%66,& )*3B& 0*& )/.+8).+0*
DEM 5$+/$& +*& /0*.2),.& .0& .$).& 04& `A,B& 2%6+%, ()6& /'.)*%0',& %*8+20*(%*.& )11%)2& +* +*& ,+.'B& ()-& /0*.2+D'.%& .0& )*.+(+/20D+)6
+(('*%&3%4%*,%&02&<)'.0@+(('*%;(%3+; 4%2%*.&6-(1$).+/,&)*3B&I*)66-B&2%)/$&.$%&#; .2)*,102.&04&/'.)*%0',&CA,&5+.$+*&6-(;
).%3& .+,,'%& +*L)(().+0*& D-& .$%& ,%/2%; /%66& T0*%,& 04& 32)+*+*:& 6-(1$& *03%,9>WZ 1$).+/& 8%,,%6,& )11%)2,& .0& D%& (%3+).%3
.+0*& 04& *).'2)6& G=E,& )*3& 0.$%2& (%/$); C'2+*:&.$+,&120/%,,B&`A,&'*3%2:0&1$%*0; D-& QAP,& D+*3+*:& .0& AA^!& )*3& D-
*+,(,&.$).&)2%&,.+66&.0&D%&+3%*.+I%39 .-1+/&/$)*:%,& ,+(+6)2&.0& .$0,%& .$).& 0//'2 ,%/0*3)2-& 6-(1$0+3;02:)*& /$%(0M+*%N
F*0.$%2& *0*;+*3+:%*0',& CA& 101'6); +*&,+*:6%&%1+3%2()6&/%66&/'6.'2%,>WcK&.$).&+,B AA`!>& 1203'/%3& D-& 6-(1$).+/& %*30;
.+0*&02+:+*).%,&420(&(-%60+3&12%/'2,02, 305*2%:'6).+0*& 04& (06%/'6%,& 02& ,.2'/; .$%6+)6&/%66,&04&.$%&3%2(+,&)*3&D+*3+*:&.0
)*3& $),& D%%*& 3%.%/.%3& +*& +*L)(().02- .'2%,& 2%,10*,+D6%& 402& )*.+:%*& '1.)M%& )*3 AA^Z&0*&().'2+*:&`A,&)*3&CCA,9>Z>B>Z!
,M+*& 3+,%),%,& ,'/$& ),& ).01+/& 3%2().+.+, 120/%,,+*:& ),& 5%66& ),& 402& `A& )..)/$(%*. G*.%2%,.+*:6-B& AA`!>& %R12%,,+0*& +,& '1;
)*3& /0*.)/.& %/T%()9& #$%& ,0;/)66%3& !"7 .0&M%2).+*0/-.%,&<%9:9B&=/&2%/%1.02,B&e;/)3; 2%:'6).%3&+*&+22+.)*.&)*3&)66%2:+/&/0*.)/.
M#''#$-.)& ,%",.!$!4& %1!,%.'#3& 4%33+& )2% $%2+*@& )*3& '12%:'6).+0*& 04& (0+%.+%,& 2%; 3%2().+.+,B& 5$+/$& +(16+/).%,& +.,& 2%:';
/$)2)/.%2+T%3& D-& .$%& %R12%,,+0*& 04 J'+2%3& 402& )/.+8%& (+:2).+0*& )*3& ,.+('6); 6).%3&+(1)/.&0*&CA&%(+:2).+0*&420(&.$%
AC>)B& AC>DB& =/ ^GB& AC!VB& a`F;C^B .+0*& 04& 20D',.& 2%,10*,%,& 04& *)+8%& #& /%66, ,M+*9>ZV
)*3& ACVW9>W!& e8+3%*/%& %R+,.,& .$).& )* <%9:9B& AC"?B& ACc?B& ACcVB& ACcW@9& #$%
+(('*%& 2%,10*,%& .2+::%2%3& D-& .$%,% (%/$)*+,(,& :08%2*+*:& `A& (+:2).+0*& )2% B>:4;#5:*8( 7?579?;#92( 5B( @9:@?#;#4
/%66,&+,&,M%5%3&+*&.$%&#$>&3+2%/.+0*9>WV D%/0(+*:& +*/2%),+*:6-& /6%)29& #E=; & )*3 49882 `+M%& .$%& 0.$%2& (%(D%2,& 04& .$%
=+*)66-B&.$%2%&2%()+*,&.$%&J'%,.+0*&), G`;> & <+*& )&/),1),%& >\3%1%*3%*.&4),$+0*@ CA&4)(+6-B&`A,&)*3&CCA,&)2%&q1204%,;
.0&.$%&'6.+().%&4).%&04&.$%&%1+3%2()6&)*3 )2%& /2+.+/)6& 120(0.%2,& 04& .$+,& 120/%,,B ,+0*)6r&FPA,B&%*305%3&5+.$&.$%&'*+J'%
3%2()6& CA& 101'6).+0*,9& Q)f02& 1%2.'2; 5$%2%),&G`;>?&+*$+D+.,&+.,&0//'22%*/%9&G*; /)1)/+.-& 04& ,.+('6).+*:& )*.+:%*;,1%/+I/
D).+0*& 04& .$%& /'.)*%0',& (+/20%*8+20*; /2%),%3& /'.)*%0',& 1203'/.+0*& )*3N02& 2%; 2%,10*,%,& +*& *)+8%B& 2%,.+*:& #& /%66,9& #0
(%*.&<3)*:%2&,+:*)6>W"@&6%)3,&.0&.$%+2&)/; 6%),%& 04& .$%& 120;+*L)(().02-& /-.0M+*%, 1208+3%& )& D%..%2& '*3%2,.)*3+*:& 04& .$+,
.+8).+0*B& 5$+/$& 2%,'6.,& %+.$%2& +*& .$%+2 +,& 120D)D6-& 0*%& 04& .$%& (%/$)*+,(,& D- 4'*/.+0*)6&1201%2.-B&.$%&D),+/&12+*/+16%,
%6+(+*).+0*& 8+)&.$%& ,.2).'(&/02*%'(& +* 5$+/$& /%2.)+*& +(('*0,.+('6).02-& /0(; 04& )*.+:%*& '1.)M%B& 120/%,,+*:B& )*3& 12%;
.$%&/),%&04&`A,>WU&02B&(02%&+(102.)*.6-B 10'*3,&)116+%3&.0&02&+*f%/.%3&+*.0&.$%&,M+* ,%*.).+0*&)2%&D2+%L-&2%8+%5%39
+*& .$%& (+:2).+0*& 04& `A,NCCA,& .0& 6-(; [%9:9B&+(+J'+(03B&'*(%.$-6).%3&/-.0,+*%;
1$0+3&.+,,'%,B&5$%2%&.$%-&+*+.+).%&.-1%&> 1$0,1$).%;:')*0,+*%& <A1]@& 06+:0*'/6%; C9:9?*8(7?#:4#7892(5B(*:;#C9:(7?929:F
<#$>N/-.0.0R+/& #& /%66& >@\30(+*).%3& #; 0.+3%,_&)//%6%2).%&`ANCCA&(+:2).+0*9&G*; ;*;#5: <=+:9&>?;c@ Y*6+M%&H&/%66,B&#&/%66,
/%66& 2%,10*,%,& <,%%& #$%& SM+*\G*+.+).+0* .%2%,.+*:6-&%*0':$B&A'(D%2D)./$&%.&)69>Wd /)**0.&2%/0:*+T%&,06'D6%&120.%+*&)*.+:%*
S+.%& )*3& #)2:%.& 04& G(('*%& ^%,10*,%@9 2%102.%3& .$).B& +*& 1,02+),+,B& `A,& )2%& +(; 1%2&,%K&.$%+2&)*.+:%*&2%/%1.02&#A^&+,&3%;
H-&/0*.2),.B&+.&+,&6%,,&/6%)2&5$).&$)11%*, 1)+2%3& +*& .$%+2& (+:2).02-& /)1)/+.-9& #$+, ,+:*%3& .0& ,%%& )*.+:%*;3%2+8%3& 1%1.+3%,
+*&*02()6&,M+*9&C0%,&`A&,$%33+*:&0//'2 5),&,0(%5$).&'*%R1%/.%3&+*&8+%5&04&.$% D0'*3& .0& QaA& 60/',\%*/03%3& (06%;
'*3%2& 1$-,+060:+/& <*0*3)*:%2@& /0*3+; 2%()2M)D6%& 08%2%R12%,,+0*& 04& #E=; & +* /'6%,&%R12%,,%3&D-&FPA,9>ZW&=02&.$%&)*.+;
.+0*,g& G,& .$%2%& )& *).'2)6& L'R& 04& `A,N 1,02+).+/& ,M+*9& #$%,%& +*8%,.+:).02,& )6,0 :%*;,1%/+I/&)/.+8).+0*&04&#$&/%66,B&%R0:;
CCA,& .0& .$%& 2%:+0*)6& 6-(1$& *03%,g& G4 40'*3&.$).&.$%&4)+6'2%&04&#E=; &)*3N02&G`; %*0',& )*.+:%*\3%2+8%3& 1%1.+3%,& )2%
,0B& 5$).& )2%& .$%& 4'*/.+0*)6& /0*,%; > & .0& +*3'/%& `A& (+:2).+0*& 420(& '*+*; ',')66-&12%,%*.%3&+*&.$%&/0*.%R.&04&QaA
J'%*/%,& 04& ,'/$& )*& 0//'22%*/%g& e8+; 8068%3& ,M+*& 5),& *0.& )..2+D'.)D6%& .0& )* /6),,& GG& (06%/'6%,9>ZZ& G*& .$+,& ,+.').+0*B
3%*/%& %R+,.,&.$).& (%6)*+*& :2)*'6%,& /)1; )6.%2%3& %R12%,,+0*& 04& 2%/%1.02,& 402& .$%,% 1%1.+3%,&)2%&:%*%2).%3&+*&.$%&%*30/-.+/B
.'2%3& +*& .$%& ,M+*& )//'('6).%& +*& .$% /-.0M+*%,9& #$%& *).'2%& 04& .$+,& `A& (+:2); %*30,0()6N6-,0,0()6& 1).$5)-& )*3& )2%
2%:+0*)6& 6-(1$& *03%,& D'.& *0.& +*& 0.$%2 .+0*&+*$+D+.+0*&4)/.02&+,&),&-%.&'*M*05*9 D0'*3& .0& QaA& /6),,& GG& (06%/'6%,9& #$%
.+,,'%,9&#$%&4'2.$%2&0D,%28).+0*&04&0*6- G`;>W& )6,0& +*3'/%,& `A& (0D+6+T).+0*9 2%,'6.+*:& QaA;1%1.+3%& /0(16%R& +,& %R;
8%2-& 4%5& (%6)*+*& :2)*'6%\/0*.)+*+*: #$+,&120/%,,&/0'63&1%2$)1,&D%&01%2).+8% 12%,,%3&).&.$%&FPA&,'24)/%&402&%*/0'*.%2
/%66,& +*& #]=; >\N\& (+/%& ,'::%,.,& .$).B +*&).01+/&3%2().+.+,9&G*&.$+,&3+,%),%B&CA, D-& .$%& #A^& 04& AC"i& #$& /%66,9& G*& /0*;
'*3%2& ,.%)3-;,.).%& /0*3+.+0*,B& %1+3%2; 04& 6%,+0*)6& ,M+*& %R$+D+.& ,'24)/%& G:e .2),.B&(0,.&ACci&#&/%66,B&3%,.+*%3&.0&D%;
()6& )*3N02& 3%2()6& )*.+:%*,& )2%& /)22+%3 D0'*3& .0& $+:$;)4I*+.-& =/& 2%/%1.02, /0(%&/-.0.0R+/&#&/%66,B&2%/0:*+T%&.$%&%*;
.0& .$%& 2%:+0*)6& 6-(1$& *03%,& D-& #]=; <=/ ^G@B& )*3& )66%2:%*;(%3+).%3& 2%/%1.02 30:%*0',& )*.+:%*& +*& ),,0/+).+0*& 5+.$
>\3%1%*3%*.& /%66,& <(0,.& 6+M%6-& `A,N /20,,;6+*M+*:& 2%,'6.,& +*& %*$)*/%3& G`;>W QaA&/6),,&G&(06%/'6%,9>ZZ&H%/)',%&(0,.
CCA,@&0*6-9& G.& )11%)2,& .$).& #& 6-(1$0; 1203'/.+0*9 *'/6%).%3& /%66,& .2)*,/2+D%& )*3& %R12%,,
/-.%,& %*/0'*.%2+*:& ,'/$& FPA,& +*& 8+80 F*& +(102.)*.& $'236%& 402& %(+:2).+*: QaA&/6),,&G&:%*%,&)*3&:%*%&1203'/.,B&+.
)2%& 2%*3%2%3& '*2%,10*,+8%& +*& )*& )*.+; `A,&+,&.$%&D),%(%*.&(%(D2)*%9&C'2+*: +,&%8+3%*.&.$).&()*-&/%66&.-1%,&/)*&,%28%
:%*;,1%/+I/&()**%29>WW&G.&()-&.$%2%402% .$%+2& 305*5)23& f0'2*%-B& `A,& 120D)D6- ),&FPA,&402&QaA&/6),,&G\2%,.2+/.%3&)*.+;
D%&),,'(%3& .$).&)D,%*/%&04&1).$0:%*+/ )..)/$&.0&+.&8+)& W;/0*.)+*+*:&+*.%:2+*&2%; :%*& 12%,%*.).+0*& )*3N02& ),& .)2:%.,& 402
#;/%66&)'.0+(('*+.-&)*3N02&6)/M&04&2%)/; /%1.02,& )*3& 1203'/%& 120.%06-.+/& %*; QaA& /6),,& G\3%1%*3%*.& )..)/M& D-& #
.+8+.-&):)+*,.&,%%(+*:6-&+**0/'0',&%*8+; T-(%,&,'/$&),&.-1%&Gk&/066):%*),%&<(); /%66,9&G*&.$%&QaA&/6),,&GG\3%1%*3%*.&)*;
20*(%*.)6& /0(10'*3,& <%9:9B& )%20)66%2; .2+R& (%.)660120.%+*),%&d@& .0& 1%*%.2).%& +. .+:%*;12%,%*.).+0*& 1).$5)-B& CA,B& +*;
:%*,@& +*& .$%& 1%2+1$%2-& +,& 12+()2+6-& .$% )*3& .0& 1)8%& .$%+2& 5)-& .$20':$& .$% /6'3+*:& `A,& )*3& CCA,B& H& /%66,B& )*3
/0*,%J'%*/%& 04& )*& )/.+8%& +(('*%& 2%; 3%*,%& 3%2()6& *%.502M& +*.0& .$%& 6-(; (0*0/-.%,N()/201$):%,B& )2%& .$%& ()f02
,10*,%&2).$%2&.$)*&.$%&2%,'6.&04&+.,&*0*; 1$).+/&,-,.%(9&e8+3%*/%&+,&)//'('6).+*: FPA&101'6).+0*,9
0//'22%*/%9 .$).&`ANCCA&(+:2).+0*&0//'2,&+*&)*&)/;
X*&2%/%+1.&04&3)*:%2&,+:*)6,&<%9:9B&#`^ .+8%B& 3+2%/.%3& 4),$+0*9& X,.%010*.+*& +,& ) 405&'( 6,-%&$&780%,9,:,%2( ;&78:#<( ;:0--( =>
6+:)*3,B& /$%(+/)6& $)1.%*,B& $-10R+)@B& .$% /$%(0.)/.+/& 120.%+*& .$).& +,& %,,%*.+)6& +* ?#-%',$%#@(A+%,1#+(.'#-#+%0%,&+BCD3 ! "#$%
,+.').+0*& +,& J'+.%& 3+44%2%*.9& F4.%2& )& 4%5 .$+,& 2%:)239& G.& +*+.+).%,& `A& %(+:2).+0* $&! ' ( # ) * + ' , & $ -* ! * (. # - &/ &" & - 0
$0'2,B&`A,&D%:+*&.0&%*6)2:%B&.0&3+,16)-&+*; 420(& .$%& %1+3%2(+,& )*3& )..2)/.,& `A,N ! *(. "1 2 ' ! "# $$ ' &' . +1 $13 -# -&*3
/2%),%3&)(0'*.,&04& ,'24)/%;D0'*3&QaA CCA,& .0& 32)+*+*:& *03%,& D-& +*.%2)/.+*: .#-,4#05 G((%3+).%6-&)4.%2&.$%+2&D+0;
/6),,& GG&(06%/'6%,B& )*3&.0& (+:2).%&305*; 5+.$&)*&E;.%2(+*)6&%1+.01%&04&.$%&AC"" ,-*.$%,+,B& QaA& /6),,& G& $%)8-&)*3& 6+:$.
5)23&+*&.$%&3%2(+,B&5$%2%&.$%-&%*.%2&)4; (06%/'6%9>Z?& #$%& %*.2-& +*.0& )*3& )/.+8% < !;(+/20:60D'6+*@& /$)+*,& )2%& +*,%2.%3
DE!
EG^d#K#)/..
KEW
EG^
IHK#)/..7
CDE#).-00#= GI#K#)/..
1-&6S-: F'1'4#-%&';/%
B*+&/-0+(/ KEW
A <R
EGRd
K#)/..
T'*,/)>#;*-%?./
K$B
bW CDE KEW
E.-00#= b%4+0+(/
EGR
CDE C==E
).-00#==
1De\
V+.;'
CDE#).-00#==
1-&6S-: b%4+0+(/
B#C>?9(DEFM 9*+",'*@O%$2'##"*,(O/+M[/K#H(:M'("*+%/2'II1I/%(/*+",'*@O%$2'##"*,(O/+M[/K#(N$%(3/b$%(M"#+$2$3O/+"4"I"+K(2$3OI'X(S0EAT(2I/##(5U(0EA(2I/##
55U(/*&(A!F(O%'#'*+/+"$*(/%'(#M$[*H(:M'(0EA(2I/##(5(O/+M[/K("*R$IR'#(+M'(O%$2'##"*,($N(2K+$OI/#3"2(O%$+'"*#U([M'%'/#(+M'(0EA(2I/##(55(O/+M[/K("*R$IR'#(+M'
O%$2'##"*,($N('X$,'*$1#(O%$+'"*#H(:M'(A!F(O/+M[/K(%',1I/+'#(+M'(O%$2'##"*,(/*&(O%'#'*+/+"$*($N(#'IN@,IK2$#OM"*,$I"O"&#(/*&(4/2+'%"/I(I"O$,IK2/*#H(!6(:(2'II(a
&$14I'@*',/+"R'(SA!\fVA!gfT(:(2'IIP(><(a('*&$OI/#3"2(%'+"21I13P(055A(a(0EA(2I/##(55(IK#$#$3/I(O'O+"&'@I$/&"*,(2$3O/%+3'*+P(6L:(2'II(a(*/+1%/I(."II'%(:(2'IIP
:9)(a(+%/*#O$%+'%(/##$2"/+'&(["+M(/*+",'*(O%$2'##"*,P(:A<(a(:@2'II(%'2'O+$%H(
b1'4/*('0
$; $; FE
FE FE
HE G/*('0
GGE
GGE
HE
;"? E:&+>'%/0 $;
E6/(+>'%/0
GGE
=((-&?*/ ;
C-&?*/ FE7GGE
FE7GGE ;Y
$55/*/%& E.+%-.
;Y
.:(16-&')#8/00/. /91-%0'+%
;
K#.:(16+):&/ b%4+&6/.'-.#)/..0
B*'(/4#K#)/..
F:(16#%+4/
B#C>?9(DEF! :M'(3'2M/*"#3#($O'%/+"R'("*(+M'("*"+"/+"$*U('XO%'##"$*U(/*&(&$[*%',1I/+"$*($N(21+/*'$1#("331*'(%'#O$*#'#H(5*&12+"$*($N(O%$&12+"R'(:@2'II
"331*"+K(R"/(+M'(#."*Y(:M'('O"21+/*'$1#(/*&V$%("*+%/21+/*'$1#(&'(*$R$(/OO'/%/*2'($N(/*+",'*#(S"H'HU(O/+M$,'*#(#12M(/#(3"2%$$%,/*"#3#(/*&(M/O+'*#T(%'#1I+#
"*(+M'('I"2"+/+"$*($N(O%$&12+"R'(/*+",'*@#O'2"W2("331*"+K([M'*(l&/*,'%(#",*/I#m(S"H'HU(4/2+'%"/I(!69(%"2M("*(1*3'+MKI/+'&(2K+$#"*'@OM$#OM/+'@,1/*"*'(%'O'/+#
/*&($+M'%(:$II@I".'(%'2'O+$%(I",/*&#T(/%'(O%'#'*+(/+(+M'(+"3'($N(/*+",'*"2('XO$#1%'H(:M'(%'2'"O+($N(&/*,'%(#",*/I#(I'/&#(+$(+"##1'(O'%+1%4/+"$*U(/#('R"&'*2'&(4K(+M'
"*2%'/#'&(#'2%'+"$*($N(,%/*1I$2K+'@3/2%$OM/,'(2$I$*K@#+"31I/+"*,(N/2+$%U(+13$%(*'2%$#"#(N/2+$%@ U(/*&("*+'%I'1."*(F(S58@FT(4K(.'%/+"*$2K+'#(SLA#T(/*&($+M'%(#."*
2'II#H(9*+",'*@O%'#'*+"*,(2'II#(S9)A#T(]8/*,'%M/*#(2'II#(S8A#TU(&'%3/I(&'*&%"+"2(2'II#(S!!A#T^(+M/+(O"2.(1O(+M'(/*+",'*U(O%$2'##("+U(/*&(%'@'XO%'##("+(/#(/(O'O+"&'f
3/b$%(M"#+$2$3O/+"4"I"+K(2$3OI'X(S0EAT(O%$&12+($*(+M'(#1%N/2'(/%'(/I#$(O%$N$1*&IK(/NN'2+'&(4K(&/*,'%(#",*/I#($%(&/*,'%(#",*/If"*&12'&(2K+$."*'#H(:M'(/I+'%@
/+"$*#($N(8A#V!!A#("*2I1&'(+M'("*2%'/#'&('XO%'##"$*($N(0EA(/*+",'*#U(2$@#+"31I/+$%K(3$I'21I'#U(/*&(2K+$."*'#(S58@F U(58@jU(58@F_TU(/#(['II(/#(+M'('*M/*2'&
'3",%/+"$*($N(+M'#'(2'II#(N%$3(+M'(#."*(+$(+M'(O/%/2$%+"2/I(/%'/#($N(+M'(&%/"*"*,(IK3OM(*$&'#H(9+(+M"#(#"+'U(+M'(#."*@&'%"R'&(&'*&%"+"2(2'II#(S!A#T(O%$R"&'(/2+"R/+"$*
#+"31I"(+$(+M'(*/"R'(%'#+"*,(:(2'II#(#1%%$1*&"*,(+M'3H(:M"#($221%#("*(/*(/*+",'*@#O'2"W2(N/#M"$*(/*&(+M1#(%'#1I+#("*(+M'('XO/*#"$*($N(+M'(%'#O'2+"R'(2I$*'S#TH
:M'#'(O%"3'&(:(2'II#(4',"*(+$('XO%'##(#."*@M$3"*,(%'2'O+$%#(S'H,HU(A89T(/#(['II(/#(%'2'O+$%#(N$%(R/%"$1#(2M'3$/++%/2+/*+#(+M/+(O%$3$+'(+M'"%(/++/2M3'*+(+$(&'%@
3/I(3"2%$R/#21I/%('*&$+M'I"/I(2'II#($N("*Z/3'&(#."*(/*&U(1I+"3/+'IKU(+M'"%('*+%K("*+$(+M"#(+"##1'H(>I"2"+/+"$*($N(:(2'IIf3'&"/+'&(+"##1'("*Z/33/+"$*(/*&(O/+M$,'*
&'N'*#'Y(;*(%'2'"O+($N(/(%'*'['&(/*+",'*"2(#+"31I1#(4K(21+/*'$1#(9)A#(S8A#U(!!A#TU(+M'(#."*@M$3"*,(O%"3'&(:(2'II#('XO/*&(I$2/IIK(/*&(&"#OI/K(+M'('NN'2+$%
N1*2+"$*#(*''&'&(N$%(+M'('I"3"*/+"$*U($%(/+(I'/#+(+M'(/++/2.U($N(+M'(O/+M$,'*H(9I+'%*/+"R'IKU(O%"3'&(:(2'II#(3/K('*2$1*+'%(+M'(/*+",'*($*(+M'(#1%N/2'($N(*$*O%$N'#@
#"$*/I(9)A#(S'H,HU(0EA(2I/##(55f4'/%"*,(LA#TU(/(#"+1/+"$*(+M/+(2$*2'"R/4IK(%'#1I+#("*(/(#+/+'($N(2I$*/I(:@2'II(/*'%,KH(!$[*%',1I/+"$*(/*&(O%'R'*+"$*($N(21+/*'$1#
:@2'II("331*"+KY(5*(+M'(/4#'*2'($N(&/*,'%(#",*/I#(S+"##1'(M$3'$#+/#"#TU(/*+",'*@I$/&'&(8A#V!!A#(/I#$(I'/R'(+M'(21+/*'$1#(2$3O/%+3'*+(/*&(3",%/+'(+$[/%&
+M'(&%/"*"*,(IK3OM(*$&'H(:M'#'(2'II#($%U(/I+'%*/+"R'IKU(%'#"&'*+(IK3OM(*$&'(!A#(+M/+(M/&(O"2.'&(1O(/*+",'*"2(3$"'+"'#(N%$3(/NN'%'*+(IK3OM/+"2#(O%'#'*+(+M"#(/*@
+",'*("*(/(*$*O%$&12+"R'(N/#M"$*k+M/+("#U(+M'K("*&12'(/*+",'*@#O'2"W2(:@2'II(1*%'#O$*#"R'*'##($%(/II$[(+M'(%'#O$*&"*,(:(2'IIS#T(+$(&"NN'%'*+"/+'("*+$("331*$#1O@
O%'##"R'(:(%',1I/+$%K(2'II#H(:M'(I/++'%(3/K(I"3"+(/*+",'*@&%"R'*(2I$*/I(:@2'II('XO/*#"$*(&1%"*,(O%"3/%K("331*'(%'/2+"$*#("*(IK3OM(*$&'#(/*&(&1%"*,(#'2$*&/%K
"331*'(%'/2+"$*#(/+(+M'(I'R'I($N(+M'(O'%"OM'%/I(+"##1'H(-12M('R'*+#(2/*(%'#1I+("*(+M'(&$[*%',1I/+"$*($N(4$+M(&'#"%'&(S/*+"+13$%U(/*+"3"2%$4"/IT(/*&(1*&'#"%'&
SM/O+'*@#O'2"W2U(/1+$%'/2+"R'T("331*'(%'#O$*#'#H(9,(a(/*+",'*P((:(a(:(*/"R'(2'IIP(:n(a(/*'%,"2(:(2'IIP(:A<(a(:@2'II(%'2'O+$%H
1)..%2*,& .$20':$& (%(D%2,& 04& .$%& #`^ )2)D+*0()**)*B& 1%1.+30:6-/)*B& T-(0; 6+:)*3,& 402& #`^V& (+:$.& 1208%& ',%4'6& +*
120.%+*& 4)(+6-B& >>& (%(D%2,& 04& 5$+/$ ,)*B& )*3& :6-/01$0,1$).+3-6& +*0,+.06 .$%&.2%).(%*.&04&8+2)6&,M+*&+*4%/.+0*,9
$)8%& D%%*& /6),,+I%3& ,0& 4)2& <,%%& %)26+%2@9 )*/$02,& 420(& @9& 1#33!,('& )*3& @9& 4.(O! =02& +(('*0.$%2)1%'.+/& 1'210,%,B
e8+3%*/%&*05&%R+,.,&.$).&$'()*&`A,&%R; 6+10120.%+*,9&b$%2%),&#`^U&3%.%/.,&D)/; 1)2.+/'6)2&)..%*.+0*&$),&)6,0&40/',,%3&0*
12%,,& (%,,%*:%2& ^EF& %*/03+*:& #`^>B .%2+)6& L):%66+*B& #`^V& +,& ),,0/+).%3& 5+.$ #`^ZB&#`^cB&)*3&#`^dB&5$+/$&)2%&+*.2);
#`^!B&#`^VB&#`^UB&#`^WB&)*3&#`^>?9!?c .$%& 2%/0:*+.+0*& 04& 8+2)6& 30'D6%;,.2)*3%3 /%66'6)2&2%/%1.02,&402&*'/6%+/&)/+3,9&#`^Z
`+:)*3,& 04& #`^>B& #`^!B& )*3& #`^W& +*; ^EF9& `A,& (0'*.& )& 1)2.+/'6)26-& 20D',. )*3& #`^c& )2%& %*:):%3& D-& 8+2)6& ,+*:6%;
/6'3%&6+10120.%+*,&420(&>9&$(6%.4(3-+!+B I9 )*.+8+2)6& 2%,10*,%& .0& #`^V& ):0*+,.,B!?d ,.2)*3%3& ^EF& )*3& D-& ,-*.$%.+/& ,()66
6(./,-.:%.!B @9&1#33!,('B&(-/0D)/.%2+)6&6+10; 5$+/$ +(16+%,& .$).& *).'2)6& 02& ,-*.$%.+/ (06%/'6%,&(+(+/M+*:&4%).'2%,&04&*'/6%+/
DDO
)/+3,B& ,'/$& ),& +(+J'+(03& )*3& ^;c"c9 1%(1$+:',&)*3&D'660',&1%(1$+:0+39&F6; ,M+66,&04&)&5%66;.2)+*%3&3%2().060:+,.&)2%
#`^dB&0*&.$%&0.$%2&$)*3B&2%/0:*+T%,&06+; .$0':$& .$%,%& %*.+.+%,& )2%& (%3+).%3& D- 2%J'+2%3&.0&',%&.$%&.$%2)1-&402&.$%&()R;
:03%0R-*'/6%0.+3%,& <XCE,@& /0*.)+*+*: )'.0)*.+D03+%,B& 0.$%2& ,M+*& 3+,%),%,& )2% +('(&D%*%I.&04&1).+%*.,9
'*(%.$-6).%3&A1]&(0.+4,&<A1]&XCE@B )11)2%*.6-& .$%& 2%,'6.& 04& %R)::%2).%3
5$+/$&)2%&'*3%22%12%,%*.%3&+*&()((); )*3N02&(+,3+2%/.%3&#;/%66&2%)/.+0*,9
6+)*&:%*0(%,&D'.&)D'*3)*.&+*&8+2)6&)*3 #$%& ,M+*& +(('*%& ,-,.%(& +,& )6,0& )4; L>=(<>7><>6A>-
D)/.%2+)6&CEF9&H0.$&#`^Z&)*3&#`^d&6+; 4%/.%3& D-& 8)2+0',& +(('*0(03'6).+*:
:M'(N1II(%'N'%'*2'(I"#+(N$%(/II(2M/O+'%#(
:)*3,& $)8%& 12040'*3& %44%/.,& 0*& .$% /0(10'*3,& )116+%3& .0& 02& +*.203'/%3
,M+*m,& +(('*%& ,-,.%(9& G(+J'+(03& )*3 +*.0& .$%& ,M+*9& #$%& %4I/)/-& 04& +(+3)T0; "#(/R/"I/4I'(/+([[[H&",3cH2$3H
.$%& 0.$%2& +(+3)T0J'+*06+*%,& +*3'/% J'+*06+*%,&)*3&A1]&06+:0*'/6%0.+3%,&+* !9 ]),J'%&P7&A0(16%(%*.7&F&'*+J'%&+**).%
,.20*:&+*L)(().+0*&)*3B&'6.+().%6-B&2%; /'.)*%0',& *%016),(,& $),& )62%)3-& D%%* +(('*%& ,%*,02& 402& 3)*:%2& ,+:*)6,9& >-3
:2%,,+0*& 04& 8+2)6& )/)*.$0(),& )*3& 0.$%2 3+,/',,%3B&)*3&0*%&50'63&12%3+/.&.$).&) J''("-3 9:7>?cdB&!??"
,'1%2I/+)6& ,M+*& *%016),(,9!>?& A1] (02%& ,%6%/.+8%& .)2:%.+*:& 04& `A,NCCA, W9 H2)44& Qa& %.& )67& A'.)*%0',& 3%4%*,%
(%/$)*+,(,& D-& )*.+(+/20D+)6& 1%1.+3%,9
XCE,& 120(0.%& `A& (+:2).+0*!>>& )*3 5+66& +*/2%),%& .$%+2& %4I/)/-B& .06%2)D+6+.-B P&J";%+$&=%.'#$-3 :;<7dB&!??U
120(0.%& .$%& 3%8%601(%*.& 04& #$>& 2%; )*3&,)4%.-9 !d9 FM+2)&SB&Y%().,'&SB&#)M%'/$+&X7&P).$0;
,10*,%,9!>!& G.& +,& ,.+66& *0.& /6%)2& $05& .$% A02.+/0,.%20+3,B& .$%& (0,.& 42%J'%*.6- :%*& 2%/0:*+.+0*& )*3& +**).%& +(('*+.-9
.01+/)6&)116+/).+0*&04&#`^Z&)*3&#`^c&6+; ',%3&+(('*0+*$+D+.02-&)*3&)*.+;+*L)(; 5%33 :;97ZcVB&!??W
UU9 8)*& O00.%*& AB& H)*/$%2%)'& l7& AC"?;
:)*3,&/0'63&%6+/+.&,'/$&)& 20D',.&+*L)(; ().02-&,'D,.)*/%,&+*&3%2().060:-B&$)8%
AC"?&6+:)*39&P&?%(A-4&I!-3 =>7!B&!???
().02-&2%,10*,%B&D%/)',%&.$%&2%,1%/.+8% )& 12040'*3& +*L'%*/%& 0*& .$%& 1$%*0.-1% Z>9 a)22+*:.0*&`eB&Q)*:)*&P^B&b%)8%2&A#7
2%/%1.02,& )2%& 12%30(+*)*.6-& %R12%,,%3 )*3&4'*/.+0*&04&/'.)*%0',&6%'M0/-.%,&). eR1)*3+*:&.$%&%44%/.02& AC"&#;/%66&2%1;
0*&1CA,B&5$+/$&)2%&.$%&()+*&1203'/%2, D0.$&.$%&.01+/)6&)*3&,-,.%(+/&6%8%6,9&F4; %2.0+2%7& #$%& #$>Z& 6+*%):%9& 5(..& Q1!"
04&.-1%&G&G=E,&)*3&)2%&8+2.')66-&)D,%*.&+* .%2&.01+/)6&)116+/).+0*&04&D%.)(%.$),0*% J''("-3 :?7V"dB&!??W
c>9 80*&H0%$(%2&a7&S%6%/.+0*&04&.$%&#;/%66
*02()6& $'()*& ,M+*9!>V& #$%& 3%(0*,.2); 8)6%2).%& 402& 0*6-& )& 4%5& 3)-,B& )101.0.+/ 2%1%2.0+2%7& ^%/%1.02;/0*.2066%3& /$%/M;
.+0*& 04& #`^Z& 0*& ,'12)D),)6& M%2).+*0; %8%*.,& )2%& /6%)26-& 8+,+D6%& +*& .$%& %1+3%2; 10+*.,&+*&#;/%66&3%8%601(%*.9&R,;&J''(7
/-.%,!?c& /0'63& +*3+/).%& .$).& .$%,%& /%66,B ()6&`A&101'6).+0*B&)*3&0*&/0*.+*').+0* "-3 ?97!?>B&!??"
2).$%2&.$)*&`A,&02&CCA,B&)2%&.$%&12+(% 04& .$+,& .2%).(%*.& .$%& %1+3%2(+,& /)*& D% c"9 FDD),&FOB&Q'21$-&OQB&&S$%2&F7&='*/;
.+0*)6& 3+8%2,+.-& 04& $%61%2& #& 6-(1$0;
,M+*& .)2:%.,& 04& .01+/)6& +(+3)T0J'+*0; %,,%*.+)66-& 3%16%.%3& 04& .$%,%& /%66,9& #$%
/-.%,9 L#$(.% @?@7ZcZB&>ddW
6+*%,& )*3B& D-& .2+::%2+*:& .$%& 1203'/.+0* ,0;/)66%3 !"M#''#$-.)7$)1%& =5+& <+9%9B& +*; d!9 H%2M%&]7&#$%&D+*3+*:&)*3&6-,+,&04&.)2:%.
04&120;+*L)(().02-&/-.0M+*%,&)*3&/$%; L)(().02-& 3%*32+.+/& %1+3%2()6& /%66, /%66,&D-&/-.0.0R+/&6-(1$0/-.%,7&Q06%/;
(0M+*%,& +*& .$%,%& /%66,B& )2%& 2%,10*,+D6% )*3& 1CA,@& )2%& ,+(+6)26-& ,',/%1.+D6%& .0 '6)2& )*3& /%66'6)2& ),1%/.,9& R""(& S%;
402&.$%&+*L'R&04&3+44%2%*.&.-1%,&04&6%'M0; /02.+/0,.%20+3,B&5$+/$&+,&0*%&04&.$%&2%); J''("-3 :;7ZVUB&>dd"
>?>9 H'./$%2&eAB&&P+/M%2&`l7&`-(1$0/-.%&$0(;
/-.%,B&+*/6'3+*:&16),()/-.0+3&)*3&(-%; ,0*,&402&.$%&%R/%66%*.&%4I/)/-&04&.01+/)6 +*:&)*3&$0(%0,.),+,9&04!%"4% ;>;7W?B&>ddW
60+3& +*L)(().02-;.-1%& CA,9& #$%& 206% /02.+/0,.%20+3,& +*& .2%).+*:& )/'.%& 3%2(); >>U9 Q036+*&^`&%.&)67&`%)2*+*:&420(&6%,+0*,7
04& .$%,%& 6)..%2& /%66,& +*& .$%& +(('*%& 2%; .+.+,N%/T%()9!!? P)..%2*,& 04& .+,,'%& +*L)(().+0*& +*& 6%1;
,10*,%&$),&-%.&.0&D%&/6)2+I%39&e8+3%*/% #$%& %44%/.,& 04& .$%& .01+/)6& /)6/+*%'2+* 20,-9&*.-4&L#$3&R4#,&04!&T&0&R ?<7>!>VB
>dcc
%R+,.,& .$).& +*L)(().02-;.-1%& (-%60+3 +*$+D+.02,& .)/206+(',& )*3& 1+(%/206+(',
>Vc9 `)*:%2$)*,&P7&sD%2&3+%&E%28%*&3%2&(%*;
CA,& ,M%5& .$%& +(('*%& 2%,10*,%& +*& ) )2%& (02%& ,%6%/.+8%9& #$%+2& )116+/).+0*& .0 ,/$6+/$%*&a)'.9&U!.42-V+&R.42 997V!UB&>cWc
#$>& 3+2%/.+0*>WV& )*3& .$).& 1CA,B& 3%; .$%&,M+*&04&1).+%*.,&5+.$&).01+/&3%2().+; >"?9 H)*/$%2%)'&lB&&S.%+*()*&^Q7&C%*32+.+/
1%*3+*:& 0*& .$%+2& ,.).%&04& )/.+8).+0*B&4); .+,&6%)3,&.0&)*&)101.0,+,;+*3'/%3&3%16%; /%66,& )*3& .$%& /0*.206& 04& +(('*+.-9
802&.$%&)/.+8).+0*&04&#$!&)*3%:&/%66,B .+0*& 04& #& /%66,& )*3& .0& )& :2)3')6& 3+,)1; L#$(.% @A;7!"UB&>ddc
>Ud9 S+%:)6&=P&%.&)67&#$%&*).'2%&04&.$%&12+*/+;
2%,1%/.+8%6-9& b$%*& .01+/)6& +(+J'+(03 1%)2)*/%&04&+*L)(().02-;.-1%&CA,&D'. 1)6& .-1%& >&+*.%24%20*;1203'/+*:& /%66,& +*
.2%).(%*.&<,%%&A$)19&!!>@&2%,'6.,&+*&.$% 6%)8%,& .$%& %1+3%2()6& `A& 101'6).+0*& %,; $'()*&D60039&04!%"4% ;?97>cVUB&>ddd
2%:2%,,+0*&)*3B&'6.+().%6-B&2%,06'.+0*&04 ,%*.+)66-& '*)6.%2%39!!?& #+(%& 5+66& .%66 >W"9 Q).T+*:%2&P7&F*&+**).%&,%*,%&04&3)*:%29
,M+*& *%016),(,B& .$%,%& +*L)(().02-; 5$%.$%2& .$%& 3+44%2%*.+)6& %44%/.,& 04& .01+; R""&L&W&R4#,&04! A=:7V">B&!??!
>c"9 P02/%66+& SFB& Q036+*& ^`7& #$%& AC>& ,-,;
.-1%& CA,& )2%& )D'*3)*.6-& 12%,%*. /)6&/02.+/0,.%20+3,&)*3&/)6/+*%'2+*&+*$+D;
.%(7& F*.+:%*;12%,%*.+*:& (06%/'6%,& 402
)20'*3& 2%:2%,,+*:& .'(02& /%66& +,6)*3,!>" +.02,& 0*& .$%& ,M+*& +(('*%& ,-,.%(& 5+66 #&/%66&2%/0:*+.+0*&04&6+1+3,&)*3&:6-/06+1;
)*3& /)*& %R12%,,& (06%/'6%,& 04& .$%& 6-.+/ $)8%& )*& +*L'%*/%& 0*& .$%& 60*:;.%2( +3,9 R""(&S%;&J''("-3 :>7!dZB&>ddd
()/$+*%2-& ,'/$& ),& 1%2402+*B :2)*T-(% ,)4%.-&04&.$%,%&/0(10'*3,9 >cU9 S.+*:6&]B&#)()M+&OB&O).T&SG7&X2+:+*&)*3
HB& )*3& #E=;2%6).%3& )101.0,+,;+*3'/+*: #$%& %*.+2%& I%63& 04& .01+/)6& +(('*0; 4'*/.+0*&04&%1+3%2()6&`)*:%2$)*,&/%66,9
J''("-3&S%; <@7>"dB&>dc?
6+:)*3B& 5$+/$& ,'::%,.,& .$%+2& /-.0.0R+/ (03'6).+0*& +,& *05& )38)*/+*:& 2)1+36- >d>9 S.2%+6%+*& lb7& SM+*;),,0/+).%3& 6-(1$0+3
10.%*.+)69 D%/)',%&04&<>@&)*&+*/2%),+*:6-&D%..%2&'*; .+,,'%,&<SF`#@7&X2+:+*,&)*3&4'*/.+0*,9&P
#$%&+*3'/.+0*&04&,M+*&/%66&+*f'2-&)*3N 3%2,.)*3+*:& 04& .$%&,M+*m,&+(('*%& 4'*/; J";%+$&=%.'#$-3 ?B'$CDDE7>!,B&>dcV
02&3%(+,%&D-&/%66,&04&.$%&+**).%&+(('*% .+0*& )*3B& ),& )& /0*,%J'%*/%B& .$%& +3%*.+I; >dZ9 `'.T& QHB& S/$'6%2& ]7& G(().'2%B& ,%(+;
().'2%&)*3&4'66-&().'2%&3%*32+.+/&/%66,7
,-,.%(&,$0'63&*0.&3%.2)/.&420(&.$%&4)/. /).+0*&04&120(+,+*:&32':&.)2:%.,K&<!@&*%5
b$+/$&,+:*)6,&+*3'/%&.06%2)*/%&02&+((';
.$).& )3)1.+8%& (%/$)*+,(,& )2%& 2%,10*,+; /0(1'.%2;),,+,.%3& (%.$03,& 04& 32':& 3%; *+.-g @.%",+&J''("-3 ;@7""UB&!??!
D6%&402&(0,.&04&.$%&3%,+2%3&+(('*%&2%)/; ,+:*K& )*3& <V@& *%5& .%/$*060:+%,& .$).& )6; !?!9 O03)6+&S&%.&)67&k),0)/.+8%&+*.%,.+*)6&1%1;
.+0*,&+*&.$%&,M+*&<+9%9B&.$%&%6+(+*).+0*&04 605& 402& )& D%..%2& 1%*%.2).+0*& 04& )& :+8%* .+3%&(03'6).%,&`)*:%2$)*,&/%66&+(('*%
1).$0:%*+/& (+/2002:)*+,(,& )*3& *%0; /0(10'*3& +*.0& .$%& ,M+*& )*3& +.,& :'+3; 4'*/.+0*9 P&J''("-3 :>@7W?c!B&!??"
!>?9 C0/M2%66& CaB&O+*:$02*& ]^7& G(+J'+(03
16),.+/& /%66,@& ),& 5%66& ),& 402& +(('*%; )*/%&.0&.$%&3%,+2%3&.)2:%.9&#$%,%&3%8%6; )*3&2%,+J'+(03&),&*08%6&+(('*0(03';
(%3+).%3&+*f'2-&04&.$%&,M+*9&eR)(16%,&04 01(%*.,&)2%&$%2)63+*:&)&*%5&:063%*&%2) 6).02,9 P& R"$!'!4.-6& 52%'-$2%. 9?7ZU>B
.$%& 6)..%2& )2%& D'660',& 3+,%),%,& ,'/$& ), 04& ,M+*;D),%3& +(('*0.$%2)1-B& )*3& .$% !??>
DDQ
5$+/$&2%8%)6%3&.$%&16%+0.201+/&%44%/.,&04
AE9):><(FF .$%,%&/-.0M+*%,9&=02&%R)(16%B&D%402%&D%;
+*:& .%2(%3& !"$%.3%(A!"& CB& .$+,& /-.0M+*%
A=:;L56>-
40&G3,$'J $)3&D%%*&8)2+0',6-&M*05*&),&%",-/%"-(+
1).-/%"B 3)'12-4)$%7#4$!;#$!"/& :#4$-.B& )*3
9:(9(C896A>(
3%(A-4)$!4& %",-/%"-(+& '%,!#$-.9& Q)*-& /-;
5N$%(<H(i"II"/3# .0M+*%,& $)8%& )&5+3%& 2)*:%& 04&)/.+8+.+%,B
?'*b/3"*(>H(<"2M /)',+*:& ('6.+16%& %44%/.,& +*& 2%,10*,+8%
:M$3/#(-H(L1OO'% /%66,&)*3&)&3+44%2%*.&,%.&04&%44%/.,&+*&%)/$
.-1%& 04& /%66& /)1)D6%& 04& 2%,10*3+*:9& #$%
2%3'*3)*/-& 04& /-.0M+*%,& .-1+/)66-
:E>(A;6A>):(;7(A=:;L56>- (%)*,&.$).&+*&)*-&,+*:6%&D+0),,)-&<,'/$ AK+$."*'#(/%'(O$IKO'O+"&'(3'&"/+$%#(+M/+(
b$%*&/%66,&)*3&.+,,'%,&+*&/0(16%R&02:)*; ),& +*3'/.+0*& 04& #;/%66& 1206+4%2).+0*@B N1*2+"$*("*(2$331*"2/+"$*(4'+[''*(
+,(,& *%%3& .0& /0(('*+/).%& 08%2& 3+,; ('6.+16%& /-.0M+*%,& 5+66& 3+,16)-& )/.+8+.-9 M'3/+$O$"'+"2(2'II#(/*&($+M'%(2'II(+KO'#H
.)*/%,&:2%).%2&.$)*&0*%&/%66&3+)(%.%2B&,06; G*&)33+.+0*B&.$%&)D,%*/%&04&)&,+*:6%&/-.0;
AK+$."*'#($N+'*(M/R'(31I+"OI'(4"$I$,"2(
'D6%&4)/.02,&(',.&D%&%(160-%39&F&,'D,%. M+*%&<,'/$&),&+*&(+/%&5+.$&.)2:%.%3&(';
/2+"R"+"'#(SOI'"$+%$O"#3T(/*&($R'%I/OO"*,(
04&.$%,%&4)/.02,&+,&(0,.&+(102.)*.&5$%* .).+0*,& +*& /-.0M+*%& :%*%,@& /)*& 04.%*& D%
4"$I$,"2('NN'2+#(S%'&1*&/*2KTH
1203'/%3& 02& 2%6%),%3& .2)*,+%*.6-& '*3%2 6)2:%6-&02&%8%*&/0(16%.%6-&/0(1%*,).%3
402&D-&0.$%2&/-.0M+*%,&5+.$&08%26)11+*: )%"3/%K(2K+$."*'#U(#12M(/#("*+'%I'1."*(F(
%(%2:%*.& /0*3+.+0*,9& b$%*& 4)/%3& 5+.$
D+060:+/&%44%/.,9 /*&(+13$%(*'2%$#"#(N/2+$%@ U(/%'(#1NW@
)*& +*4%/.+0*;& 02& +*f'2-;2%6).%3& /$)66%*:%B
2"'*+($*(+M'"%($[*(+$(+%",,'%(I'1.$2K+'(
.$%&$0,.&(',.&02/$%,.2).%&)&/0(16%R&)*3
"*Z1X("*+$(+"##1'H
/)2%4'66-&/$02%0:2)1$%3&,%2+%,&04&,.%1,9&G.
(',.& (0D+6+T%& /%2.)+*& /+2/'6).+*:& 5$+.%
A89--575A9:5;6-(;7( 0$#+(2K+$."*'#(#",*/I(+M%$1,M('"+M'%(+M'(
D6003& /%66,& 12%/+,%6-& .0& .$%& 2%6%8)*.& +*;
A=:;L56>- *12I'/%(N/2+$%( ?($%(+M'(J/.V-:9:(#",*/I@
f'2%3&)2%)&<D'.&*0.&%6,%5$%2%@&)*3&:'+3% "*,(O/+M[/K#H
)%"3/%K(/*&(-'2$*&/%K(AK+$."*'#
0.$%2& 6%'M0/-.%,& +*8068%3& +*& $0,.& 3%; AK+$."*'@4/#'&(+M'%/O'1+"2#(*$[("*(1#'(
4%*,%B& 1)2.+/'6)26-& #& )*3& H& /%66,B& .0& ,1%; F& ,+(16%& /0*/%1.& .$).& /0*.+*'%,& .0& D% "*2I1&'(%'2$34"*/*+(2K+$."*'#U("*M"4"+$%K(
/+)6+T%3& 6-(1$).+/& .+,,'%& 2%(0.%& 420( %R.2%(%6-&',%4'6&402&3+,/',,+0*&04&/-.0; 3$*$2I$*/I(/*+"4$&"'#U(N1#"$*(O%$+'"*#(
.$%&+*4%/.+0',&6%,+0*&D'.&,'4I/+%*.6-&/60,% M+*%& 4'*/.+0*& +,& .$%& /0*/%1.& 04& q12+; 2$3O$#'&($N(2K+$."*'(%'2'O+$%#(/*&(
.0& /0*.)+*& )*.+:%*,& 420(& .$%& 2%6%8)*. ()2-r& )*3& q,%/0*3)2-r& /-.0M+*%,9U& P2+; "331*$,I$41I"*(2M/"*#U(+$O"2/I("331*$@
1).$0:%*9&F4.%2&)&6+(+.%3&1%2+03&04&.+(% ()2-&/-.0M+*%,&)2%&.$0,%&/-.0M+*%,&.$). 3$&1I/+$%#(#12M(/#("3"Q1"3$&U(/*&(2K+$@
+*&.$+,&,%..+*:&<+9%9B&6-(1$&*03%@B&)*.+D03; /)*B& D-& .$%(,%68%,B& +*+.+).%& )66& .$% ."*'(N1#"$*(+$X"*#H
+%,& 1203'/%3& D-& H& /%66,B& )*3& %44%/.02 %8%*.,& 2%J'+2%3& .0& D2+*:& )D0'.& 6%'M0;
(%(02-&#&/%66,B&/)*&D%&2%6%),%3&+*.0&.$% /-.%& +*I6.2).+0*& +*& .+,,'%,9& G`;>& <D0.$&
,%/0*3)2-& /-.0M+*%,& 5$0,%& 1203'/.+0*
/+2/'6).+0*&)*3&5+66&60/)6+T%&).&.$%&,+.%&04 )*3 &402(,@&)*3&.'(02&*%/20,+,&4)/.02
+,&+*3'/%3&)4.%2&,.+('6).+0*&D-&G`;>&)*3N
+*4%/.+0*9& S06'D6%& 4)/.02,& 1203'/%3& D- <#E=K&+*/6'3%,&D0.$&#E=; &)*3&#E=; @
02&#E=&4)(+6-&(06%/'6%,9&#$%&.%2(&+%47
2%,+3%*.& .+,,'%& /%66,& ).& .$%& ,+.%& 04& +*f'2-B 4'*/.+0*& ),& 12+()2-& /-.0M+*%,B& ),& 30
-",#.)&30%,&*0.&+(16-&.$).&.$%-&)2%&6%,,
D-& 6%'M0/-.%,& )*3& 16).%6%.,& .$).& )2%& 2%; /%2.)+*& 0.$%2& /-.0M+*%,& .$).& ,+:*)6
+(102.)*.& 02& 6%,,& )/.+8%& .$)*& 12+()2-
/2'+.%3&.0&.$%&,+.%&04&+*f'2-B&)*3&D-&(%(; .$20':$& 2%/%1.02,& .$).& .2+::%2& .$%& *';
/-.0M+*%,K& 2).$%2B& +.& +*3+/).%,& .$).& .$%+2
02-& #& /%66,& '6.+().%6-& 2%/2'+.%3& .0& .$% /6%)2& 4)/.02& H& <E=; H@& 1).$5)-9& G`;>
,1%/.2'(&04&)/.+8+.-&+,&(02%&2%,.2+/.%39
)2%)B&)66&/0*,1+2%&.0&:%*%2).%&)*&%8068+*: )*3& #E=& )2%& )D6%& .0& +*3'/%& /%66& )3$%;
)*3& %44%/.+8%& 2%,10*,%& .0& )& /$)66%*:%& .0 ,+0*&(06%/'6%&%R12%,,+0*&0*&%*30.$%6+)6
$0,.& 3%4%*,%9& Q0,.& +(102.)*.B& .$%& 6%8%6 /%66,&[,%6%/.+*,&),&5%66&),&+(('*0:60D'; :@A'II(-14#'+#(!"#+"*,1"#M'&(4K(
04& .$+,& 2%,10*,%& (',.& D%& )112012+).%& .0 6+*& ,'1%24)(+6-& (%(D%2,& ,'/$& ),& +*.%2;
)/++'%*($N(AK+$."*'()%$&12+"$*
.$%&/$)66%*:%&)*3&.$%&3'2).+0*&04&.$%&2%; /%66'6)2& )3$%,+0*& (06%/'6%& >& <GAFQ;>@
,10*,%& (',.& D%& .2)*,+%*.K& .$).& +,B& 60*: )*3&8),/'6)2&/%66'6)2&)3$%,+0*&(06%/'6% F*0.$%2&8)6')D6%&/0*/%1.&.$).&$),&5+.$;
%*0':$& .0& 3%/+,+8%6-& %6+(+*).%& .$% >& <kAFQ;>@_B& .0& ,.+('6).%& )& 8)2+%.-& 04 ,.003&.$%&.%,.&04&.+(%&+,&.$%&),,+:*(%*.
1).$0:%*B&D'.&,$02.&%*0':$&.0&(+*+(+T% /%66,&.0&1203'/%&)&$0,.&04&)33+.+0*)6&/-; 04& ()*-& #& /%66\3%2+8%3& /-.0M+*%,& +*.0
3)():%&.0&$%)6.$-&$0,.&.+,,'%,9&Q'/$&04 .0M+*%,B& )*3& .0& +*3'/%& %R12%,,+0*& 04 :20'1,& D),%3& 0*& .$%& ,1%/+I/& $%61%2& #;
.$%& /%66;.0;/%66& /0(('*+/).+0*& +*8068%3 /$%(0M+*%,&.$).&1208+3%&)&/$%(0.)/.+/ /%66&,'D,%.,&.$).&1203'/%&.$%(&<=+:9&>>;>@9
+*&.$%&/0023+*).+0*&04&.$+,&2%,10*,%&+,&)/; :2)3+%*.& )6605+*:& .$%& 3+2%/.%3& (+:2); #$%& 02+:+*)6& .50& $%61%2& #;/%66& ,'D,%.,
/0(16+,$%3&D-&/-.0M+*%,9 .+0*&04&,1%/+I/&6%'M0/-.%&,'D,%.,&+*.0&) 5%2%& .%2(%3& @2C& )*3& @2D9& A0((+.;
]%*%2)6& 4%).'2%,& 04& /-.0M+*%,& )2% ,+.%& 04& +*L)(().+0*& <,%%& A$)1.%2& >!@9 (%*.&.0&0*%&04&.$%,%&.50&1)..%2*,&04&/-;
.$%+2& 16%+0.201+,(& )*3& 2%3'*3)*/-9& H%; P2+()2-& /-.0M+*%,& /)*& D%& 8+%5%3& ), .0M+*%& ,%/2%.+0*& )6,0& 0//'2,& 5+.$& ACc
402%&.$%&)38%*.&04&)&,-,.%().+/&*0(%*; 1)2.& 04& .$%& +**).%& +(('*%& ,-,.%(& <,%% /-.0.0R+/&#&/%66,&)*3& N &#&/%66,9&C0(+;
/6).'2%&402&/-.0M+*%,B&(0,.&*%56-&+3%*; A$)19& >?@B& )*3& +*& 4)/.& ,$)2%& ,+:*)6+*: *)*/%&04&.-1%&>&02&.-1%&!&/-.0M+*%,&+*&)
.+I%3& /-.0M+*%,& 5%2%& *)(%3& )//023+*: 1).$5)-,&5+.$&.$%&,0;/)66%3&@-3373!A%&.%7 #;/%66& +(('*%& 2%,10*,%& $),& 12040'*3
.0& .$%& D+060:+/& ),,)-& .$).& 5),& D%+*: 4%1$-.+&F@?S+GB&)&4)(+6-&04&2%/%1.02,&.$). /0*,%J'%*/%,& 402& .$%& 0'./0(%& 04& +(;
',%3& .0& +,06).%& )*3& /$)2)/.%2+T%& .$%& )/; 2%/0:*+T%&(06%/'6)2&1)..%2*,&/$)2)/.%2; ('*%& 2%,10*,%,& .0& /%2.)+*& 1).$0:%*,
.+8%&(06%/'6%&<%9:9B&#;/%66&:205.$&4)/.02 +,.+/)66-& ),,0/+).%3& 5+.$& (+/20D+)6 )*3&%R.2+*,+/&120.%+*,&/)1)D6%&04&,%28+*:
402&.$%&(06%/'6%&.$).&5),&6).%2&2%*)(%3 1203'/.,9W& F6.$0':$& 0.$%2& /-.0M+*%, ),& )66%2:%*,9Z& E%)26-& .50& 3%/)3%,& )4.%2
!"$%.3%(A!"& DB& 02& G`;!@9& k%2-& 04.%*B& +*3%; ,0(%.+(%,& $)8%& 10.%*.& +*L)(().02- .$%& 02+:+*)6& 3%,/2+1.+0*& 04& .$%& #$>& )*3
1%*3%*.&:20'1,&,.'3-+*:&J'+.%&3+,1)2).% )/.+8+.-B& .$%-& 30& *0.& 3'16+/).%& .$+,& 4'66 #$!& ,'D,%.,B& ,.20*:& %8+3%*/%& $),
D+0)/.+8+.+%,&+,06).%3&.$%&,)(%&(06%/'6%B 2%1%2.0+2%&04&)/.+8+.+%,9&Q)*-&J')6+4-&), %(%2:%3& .$).& .$%2%& )2%& 0.$%2& 4'*/.+0*; DD"
/-.0M+*%&.$).&%R+,.,&*).'2)66-&),&)&*0*/0;
E:&+>'%/0#'%5.?/%)'%;# E:&+>'%/0#(-4/#,:
8)6%*.&3+(%29&#$%&D+8)6%*/-&04&.$%&3+(%2
EGR#4/8/.+1(/%& (-&?*/#EGR#K#)/..0
%*)D6%,&.$+,&6+:)*3&.0&D+*3&)*3&06+:0(%2;
+T%& .50& G=E; & 2%/%1.02& /0(16%R%,B
K6! =UIP M#FKP
.$%2%D-& 4)/+6+.).+*:& ,+:*)6& .2)*,3'/.+0*9
#E=; & )*3& #E=; & )2%& D0.$& .2+(%2,& .$).
=FP!< )2%& /0(10,%3& )6(0,.& %R/6',+8%6-& 04& ;
@%4'55/*/%&'-&/4 ,$%%.,& 4063%3& +*.0& )& qf%66-& 2066r& ,.2'/.'2)6
%-'8/#EGR#K#)/.. K6< =FPRM#=FP\M#=FP!J (0.+49&`+:)*3;+*3'/%3&.2+(%2+T).+0*&04&2%;
=FPR /%1.02,&+*&.$%&#E=&2%/%1.02&4)(+6-&+,&+*;
8068%3&+*&.$%&+*+.+).+0*&04&,+:*)6+*:9
KVUP !
=FP<J K6!N =FP!N -5C698(:<96-!DA:5;6(
=FP[
)9:Ei9=-(-E9<>!(
?=(A=:;L56>-
#0& )//0(16+,$& .$%+2& %44%/.,B& /-.0M+*%,
KVUP ! (',.& I2,.& D+*3& 5+.$& ,1%/+I/+.-& )*3& $+:$
)4I*+.-&.0&2%/%1.02,&0*&.$%&/%66&,'24)/%,&04
BGZ+O K*/; KVUP " 2%,10*3+*:& /%66,9& Q)*-& ),1%/.,& 04& .$%
=FP!_ 16%+0.201+,(&)*3&2%3'*3)*/-&()*+4%,.%3
D-&/-.0M+*%,&/)*&D%&'*3%2,.003&.$20':$
B#C>?9(DDFD AK+$."*'#(2$*+%$I(+M'(&'R'I$O3'*+($N(#O'2"W2(A!\(M'IO'%(:@2'II(#14#'+#H(:M'(2K+$."*' )*&)112%/+).+0*&04&,$)2%3&(%/$)*+,(,&04
3"I"'1(/+(+M'(+"3'($N(/2+"R/+"$*($N(*/"R'(1*&"NN'%'*+"/+'&(A!\(:(2'II#(M/#(/(O%$N$1*&("*Z1'*2'($*(+M'(1I+"3/+' ,+:*)6& .2)*,3'/.+0*& (%3+).%3& D-& /%66& ,'2;
4)/%& 2%/%1.02,& 402& /-.0M+*%,9& G*& .$%&%)26-
O/++'%*($N(2K+$."*'(#'2%'+"$*(/&$O+'&(4K(N1IIK(&"NN'%'*+"/+'&(:(2'II#H(-14#'+#($N('NN'2+$%(A!\(:(2'II#(["+M(&'@
-%)2,&04&.$%&/-.0M+*%&D+060:-&%2)B&.$%&%(;
W*'&(O/++'%*#($N(2K+$."*'(#'2%'+"$*("*2I1&'(:(M'IO'%(F(S:MFTU(:M_U(/*&(:MFc(2'II#H(<',1I/+$%K(A!\(:(2'II#
1$),+,& 04& (0,.& +*8%,.+:).+8%& 502M& 5),
S:%',(2'II#T('XO%'##(+M'(7$X)`(+%/*#2%"O+"$*(N/2+$%U(/*&(+M'"%('NN'2+#(/%'(3'&"/+'&("*(O/%+(4K(+M'"%(O%$&12+"$* .$%& 1'2+I/).+0*& )*3& %8%*.')6& /60*+*:& 04
$N(+%/*#N$%3"*,(,%$[+M(N/2+$%@ F(S:C7@ FT(/*&V$%("*+'%I'1."*(FG(S58@FGTH(576(a("*+'%N'%$*P(8:(a(IK3OM$@ *%5&/-.0M+*%,&)*3&)&3%,/2+1.+0*&04&.$%+2
+$X"*H(S9&/O+'&(N%$3(:/+$(A0U(;o-M'/(JJY(iM/+(&$'#("+(3'/*(+$(4'(b1#+(Fcp(8.(2", QQDYFjjU(_GGjHT 4'*/.+0*)6& /)1)D+6+.+%,B& D0.$& +*& 8+.20& )*3
+*& 8+809& Q0,.& 04& .$%& /-.0M+*%& 2%/%1.02,
)66-& ,+:*+I/)*.& 1)..%2*,& 04& /-.0M+*%& ,%; )*3&D0.$&G`;!V&)*3&#]=; &)2%&+*8068%3
$)8%&*05&D%%*&/60*%3B&)*3&()*-&04&.$%
/2%.+0*& D-& #& /%66,9& #$%& #$>Z& ,'D,%.& +, +*&120(0.+*:&#$>Z&3%8%601(%*.9
,+:*)6+*:& /),/)3%,& +*+.+).%3& D-& /-.0M+*%,
3+,.+*:'+,$%3& D-& 1203'/.+0*& 04& )& $+:$
$)8%& D%%*& 3%,/2+D%3& +*& :2%).& 3%.)+69& #$%
6%8%6&04& G`;>ZB& )&(%(D%2& 04&)& 4)(+6-& 04
-+%12+1%/I(AI/##"W2/+"$*($N(AK+$."*'# 8),.&()f02+.-&04&/-.0M+*%&2%/%1.02,&/)*&D%
2%6).%3& /-.0M+*%,& <.$%& 0.$%2& (%(D%2,
/6),,+I%3& +*.0& )& 2%6).+8%6-& ,()66& *'(D%2
)2%& G`;>ZH& .$20':$& =@& .$).& $)3& *0.& -%. E0.&)66&',%4'6&/6),,+I/).+0*,&04&/-.0M+*%, 04&4)(+6+%,&)*3&,'1%24)(+6+%,&<#)D6%&>>;>@B
D%%*& +3%*.+I%3& 5$%*& .$%& #$>& )*3& #$! )2%& D),%3& ,06%6-& 0*& )*)6-,+,& 04& /-.0M+*%
.$%&(%(D%2,&04&5$+/$&4'*/.+0*&+*&)*&)1;
,'D,%.,& 5%2%& I2,.& 3%,/2+D%39& #$>Z& /%66, 4'*/.+0*9& S.2'/.'2)6& D+060:+,.,B& )+3%3& D- 120R+().%6-& ,+(+6)2& 4),$+0*9& #)D6%& >>;!
120(0.%&+*L)(().+0*B&)*3&.$%2%&+,&/0*; +(1208%3&(%.$03,&04&:%*%2).+*:&$0(0:%;
6+,.,&.$%&/-.0M+*%,&04&1)2.+/'6)2&2%6%8)*/%
,+,.%*.& %8+3%*/%& 420(& $'()*& )'.0+(; *0',& 12%1)2).+0*,& 04& 120.%+*,& )*3& %,.)D;
402&/'.)*%0',&D+060:-B& +*/6'3+*:&.$%&();
('*%& 3+,%),%,& )*3& (0',%& (03%6,& 04 6+,$(%*.&04&*%5&)*)6-.+/)6&(%.$03,&<%9:9B f02& ,0'2/%,B& 2%,10*,+8%& /%66,B& 4%).'2%,& 04
.$%,%& 3+,%),%,& .$).& G`;>Z\1203'/+*: ,06'.+0*& ():*%.+/& 2%,0*)*/%& ,1%/.20,;
+*.%2%,.B&)*3&/6+*+/)6&2%6%8)*/%&04&%)/$&/-;
/%66,&)2%&/2+.+/)6&%44%/.02,&+*&)'.0+(('*% /01-@&.$).&/0(16%(%*.&.$%&/6),,+/)6&R;2)-
.0M+*%9& Q0,.& /-.0M+*%,& ,%*3& ,+:*)6,& .0
3+,%),%9c& F*0.$%2& ,'D,%.& 04& #& /%66, /2-,.)660:2)1$-& .%/$*+J'%B& $)8%& 3%.%2; /%66,&.$20':$&1).$5)-,&.$).&)2%&8%2-&,+(;
M*05*& ),& .%/(3#$-.)& @& 4%33+& <02& @.%/& 4%33+ (+*%3&.$%&.$2%%;3+(%*,+0*)6&,.2'/.'2%&04
+6)2& .0& .$0,%& ',%3& D-& 0.$%2& /-.0M+*%,
402&,$02.@&$),&%(%2:%3&),&)&/2'/+)6&,'D; ()*-&/-.0M+*%,9&#$%,%&%4402.,&$)8%&6%3&.0
D+*3+*:&.0&.$%&,)(%&/6),,&04&2%/%1.02,9&G*;
,%.& +*8068%3& +*& .$%& ()+*.%*)*/%& 04& 1%; .$%& +3%*.+I/).+0*& 04& :20'1,& 04& /-.0M+*%, 3+8+3')6& /-.0M+*%,& 04.%*& %(160-& ,%8%2)6
2+1$%2)6&,%64;.06%2)*/%9d2&04&.$%&(0,. .$).&4063&.0&:%*%2).%&,+(+6)2&.$2%%;3+(%*;
305*,.2%)(& 1).$5)-,& 04& ,+:*)6& .2)*,;
3+,.+*/.+8%&4%).'2%,&04%:&/%66,&)2%&.$%+2 ,+0*)6&,.2'/.'2%,&)*3&D+*3&.0&:20'1,&04&/-;
3'/.+0*B& 5$+/$& )//0'*.,& +*& 1)2.& 402& .$%
%R12%,,+0*& 04& .$%& =0RPV& .2)*,/2+1.+0* .0M+*%& 2%/%1.02,& .$).& )6,0& ,$)2%& ,+(+6)2 16%+0.201+/& %44%/.,& 04& .$%,%& (06%/'6%,9
4)/.02& )*3& 1203'/.+0*& 04& .2)*,402(+*: ,.2'/.'2)6& 4%).'2%,9& =02& %R)(16%B&(0,.& 04
E%8%2.$%6%,,B&5%&12010,%&$%2%&.$).&)&4%5
:205.$& 4)/.02; & <#]=; @B& )& /-.0M+*% .$%&/-.0M+*%&6+:)*3,&.$).&D+*3&.0&2%/%1.02,
()f02& ,+:*)6+*:& 1).$5)-,& )//0'*.& 402
.$).& )11%)2,& .0& D%& 2%J'+2%3& 402& #2%: 04& .$%& $%().010+%.+*& /-.0M+*%& 2%/%1.02 (0,.&%44%/.,&)..2+D'.)D6%&.0&/-.0M+*%,9&X4
/%66,& .0& 6+(+.& .$%& %R/%,,& )/.+8+.-& 04& .$% 4)(+6-&)2%&(%(D%2,&04&.$%&40'2;$%6+R&D'*;
1)2.+/'6)26-& /%*.2)6& +(102.)*/%& )2%& .$%
120;+*L)(().02-&#;/%66&,'D,%.,9>?&G`;>? 36%& :20'1& 04& 120.%+*,9& =0'2;$%6+R& D'*36%
E=; H& 1).$5)-& )*3& .$%& l)MNS#F#& 1).$;
()-&)6,0&D%&2%J'+2%3&402&.$%&)/.+8+.-&04 120.%+*,& $)8%& )& ,$)2%3& .%2.+)2-& )2/$+.%/;
5)-B&3%,/2+D%3&+*&.$%&406605+*:&,%/.+0*,9
#2%:&/%66,9&E0.&0*6-&30&%)/$&04&.$%,%&#; .'2%&/0*,+,.+*:&04&40'2&)*.+1)2)66%6& ;$%6+;
/%66& ,'D,%.,& %R$+D+.& 3+,.+*/.+8%& 1)..%2*, /)6&,.2%./$%,&,%1)2).%3&D-&,$02.&/0**%/.;
04& /-.0M+*%& 1203'/.+0*B& /-.0M+*%,& )2% +*:&6001,9&#$%&*02()6&%R+,.%*/%&04&,0(% 612I'/%(7/2+$%( ?U(5*M"4"+$%($N( ?U(
M%-&4)/.02,&+*&+*L'%*/+*:&.$%&3+44%2%*.+; /-.0M+*%,&),&06+:0(%2,&2).$%2&.$)*&(0*0;
/*&()%"3/%K(AK+$."*'#
).+0*&04&*)+8%&#&/%66,&+*.0&.$%,%&,'D,%.,9 (%2,&5),&3+,/08%2%3&+*&1)2.&),&.$%&2%,'6.
G`;>!& +,& .$%& M%-& #$>;120(0.+*:& 4)/.02B 04& ,.2'/.'2)6& +*8%,.+:).+0*,9& =02& %R)(16%B F&()f02&(%/$)*+,(&/0*.2+D'.+*:&.0&.$%
G`;"& +,& 2%J'+2%3& 402& #$!& 3+44%2%*.+).+0*B +*.%24%20*; &<G=E; @&+,&)&40'2;$%6+R&D'*36% %R.%*,+8%& 08%26)1& D%.5%%*& .$%& D+060:+/
DD=
)/.+8+.+%,& 04& .$%& 12+()2-& /-.0M+*%,& G`;>
!"#$%&''('
)*3&#E=&+,&.$%&,$)2%3&',%&04&.$%&E=; H
=-E$.*D-F&1&()*$+*!"#$%&'(*2(/(G#$.)
,+:*)6& .2)*,3'/.+0*& 1).$5)-9& G`;>& )*3
=>?82*@:I;>C*72>;@JA!7:8;*,>7KL>6M@N #E=&',%&/0(16%.%6-&3+,.+*/.&/%66&,'24)/%
2<!<,782*D>=:C6 <H>=,C< C<>J:;I 78*4:8C8I:!*<DD<!7@ 2%/%1.02& )*3& 120R+()6& ,+:*)6+*:& 1).$;
58@F(%'2'O+$%(N/3"IK 58@F<U(+KO'(5 67@ ?(/2+"R/+"$*(R"/(:<97j 5)-,B& D'.& .$%,%& 1).$5)-,& /0*8%2:%& ).
:67(%'2'O+$%(N/3"IK :67<F 67@ ?(/2+"R/+"$*("*R$IR"*,(:<97_(/*&(:<97q .$%&)/.+8).+0*&04&.$%&E=; H&.2)*,/2+1.+0*
9O$O+$#"#("*&12+"$*(R"/(l&'/+M(&$3/"*m( 4)/.029&E=; H&+,&04&/%*.2)6&+(102.)*/%&+*
O%$+'"*# +(('*%&)*3&+*L)(().02-&120/%,,%,&D%;
E'3/+$O$"'+"*(%'2'O+$%(N/3"IK( 58@_< 92+"R/+"$*($N(J/.V-:9:(O/+M[/K /)',%&)&6)2:%&*'(D%2&04&:%*%,&.$).&%6+/+.
S2I/##(5(%'2'O+$%#T 02& 1201):).%& +*L)(().+0*& $)8%& E=; H
576V58@FG(%'2'O+$%(N/3"IK( 576@ < 92+"R/+"$*($N(J/.V-:9:(O/+M[/K 2%/0:*+.+0*& ,+.%,& +*& .$%+2& 120(0.%2,9>>
S2I/##(55(%'2'O+$%#T E=; H\2%:'6).%3& :%*%,& +*/6'3%& /-.0;
5331*$,I$41I"*(#1O'%N/3"IK 0@A-7(< 92+"R/+"$*($N("*+%"*#"2(+K%$#"*'(."*/#' M+*%,B& /$%(0M+*%,B& )3$%,+0*& (06%/'6%,B
:C7@ (%'2'O+$%(N/3"IK :C7@ <U(+KO'#( 92+"R/+"$*($N("*+%"*#"2(#'%"*'V+M%'$*"*'(."*/#'( *+.2+/& 0R+3%& ,-*.$),%B& /-/600R-:%*),%B
5(/*&(55 2$1OI'&(+$(-3/&(O%$+'"*# )*3&1$0,1$06+1),%&F!9
AM'3$."*'(%'2'O+$%(N/3"IK AA<q -'R'*(+%/*#3'34%/*'(%'2'O+$%#(2$1OI'&( G*& '*,.+('6).%3& /%66,B& E=; H& $%.;
+$(C(O%$+'"*# %203+(%2,& 402(%3& 420(& 1WU& )*3& 1U?
,'D'*+.,& )2%& +*)/.+8%& D%/)',%& .$%-& )2%
AA<(a(AA(2M'3$."*'(%'2'O+$%P(576(a("*+'%N'%$*P(58(a("*+'%I'1."*P(J/.(a(J/*1#(."*/#'P(0@A-7(a(3/2%$@ ,%J'%,.%2%3&+*&.$%&/-.016),(&),&)&2%,'6.
OM/,'(2$I$*K@#+"31I/+"*,(N/2+$%P(67@ ?(a(*12I'/%(N/2+$%( ?P(-:9:(a(#",*/I(+%/*#&12'%(/*&(/2+"R/+$%($N(+%/*#@ 04& .+:$.& D+*3+*:& .0& +*$+D+.02& 120.%+*,& +*
2%"O+"$*P(:C7(a(+%/*#N$%3"*,(,%$[+M(N/2+$%P(:67a(+13$%(*'2%$#"#(N/2+$%P(:<97(a(+13$%(*'2%$#"#(N/2+$%(
%'2'O+$%f/##$2"/+'&(N/2+$%H .$%& G H& 4)(+6-& <=+:9& >>;!@9& S+:*)6& .2)*,;
3'/.+0*&1).$5)-,& .$).& )/.+8).%&.$%& E=;
!"#$%&''()
!"#$%&'()*$+*,-.#&/01-.*2(1(3-'/(*+$.*!0#-'($0)*4&$1$5"
!6789:;< =>?82*@8A2!<@ 2<@,8;@:B<*!<CC@ D<>7A2<@ 8D*:;7<2<@7 !C:;:!>C*2<C<B>;!<
58@F >O"+M'I"/I(2'II# 5*WI+%/+"*,(I'1.$2K+'# 92+"R'(N$%3(#+$%'&("*(.'%/+"*$2K+'# 58@F</(1#'&(+$(+%'/+(%M'13/+$"&(
/%+M%"+"#
58@F 0K'I$"&(2'II# 5*WI+%/+"*,(I'1.$2K+'# A/#O/#'(F(2I'/R/,'(%'Q1"%'&(N$%( 58@F</(1#'&(+$(+%'/+(%M'13/+$"&(
/2+"R/+"$* /%+M%"+"#
58@_ 92+"R/+'&(:(2'II# 92+"R/+'&(:(2'II#U(:%',(2'II# 91+$2%"*'(N/2+$%(N$%(/2+"R/+'&(:(2'II# 58@_(N1#"$*(+$X"*(+/%,'+#(A:A8
58@\ 92+"R/+'&(:M_(2'II#U(6L:(2'II# 8K3OM$2K+'#U('*&$+M'I"/I( A/1#'#(?@2'II(2I/##(#["+2M"*,(/*&( k
2'II#U(.'%/+"*$2K+'# :M_(&"NN'%'*+"/+"$*
58@q 92+"R/+'&(:M_(2'II#U(3/#+(2'II# ?(2'II#U('$#"*$OM"I# <',1I/+'#('$#"*$OM"I(%'#O$*#'(+$( 9*+"f58@q(&'OI'+'#('$#"*$OM"I#
O/%/#"+'#
58@j 92+"R/+'&(3K'I$"&(2'II#U(W4%$@ ?(2'II#U(3K'I$"&(2'II#U( :%",,'%#(/21+'@OM/#'(%'#O$*#'U( k
4I/#+#U('*&$+M'I"/I(2'II# M'O/+$2K+'# O%$3$+'#("331*$,I$41I"*(#K*+M'#"#
58@FG :(2'II#U(6L(2'II# 0K'I$"&(/*&(IK3OM$"&(2'II# 5*M"4"+#("**/+'(/*&(/2Q1"%'&( k
"331*'(%'#O$*#'#
58@F_ 92+"R/+'&(9)A# :MF(2'II# )%$3$+'#(:MF(&"NN'%'*+"/+"$*U( 9*+"@O\G("*M"4"+#(A%$M*(&"#'/#'(
#M/%'#(O\G(#141*"+(["+M(58@_` /*&(O#$%"/#"#
58@F` 92+"R/+'&(:M_(2'II# 0$*$2K+'#U(.'%/+"*$2K+'#U( 0'&"/+'#(+"##1'(%'#O$*#'#(+$( k
'*&$+M'I"/I(2'II# O/%/#"+'#
58@Fc 92+"R/+'&(:MFc(2'II# 01I+"OI'(2'II(+KO'# 0'&"/+'#(/1+$"331*'(&"#'/#'# )$+'*+"/I(&%1,(+/%,'+("*(/1+$"3@
31*'(&"#'/#'
58@_` 92+"R/+'&(&'*&%"+"2(2'II# 0'3$%K(:(2'II#U(:MFc(2'II# !"%'2+#(:MFc(&"NN'%'*+"/+"$*U(3'&"@ 9*+"@O\G("*M"4"+#(A%$M*(&"#'/#'(
/+'#(/1+$"331*'(&"#'/#' /*&(O#$%"/#"#
:67@ 92+"R/+'&(3K'I$"&U(IK3OM$"&U( 5*WI+%/+"*,(I'1.$2K+'# 0'&"/+'#("*Z/33/+"$* 9*+"f:67@ ('NN'2+"R'("*(O#$%"/#"#
/*&('O"+M'I"/I(2'II#
576@ (/*&( )I/#3/2K+$"&(&'*&%"+"2(2'II# 0$#+(2'II(+KO'# 0/b$%(O/%+($N(/*+"R"%/I(%'#O$*#' >I"2"+'&(4K(+$O"2/I("3"Q1"3$&(
576@ /OOI"2/+"$*
576@ 92+"R/+'&(:MF(2'II#U(A!g(:( 0/2%$OM/,'#U(&'*&%"+"2( 0/2%$OM/,'(/2+"R/+"$*U(#O'2"W2("#$@ 576@ (1#'&(+$(+%'/+(2M%$*"2(
2'II#U(6L(2'II#U(&'*&%"+"2(2'II# 2'II#U(*/"R'(:(2'II# +KO'(#["+2M"*, ,%/*1I$3/+$1#(&"#'/#'
9)A(a(/*+",'*@O%'#'*+"*,(2'IIP(A:A8(a(21+/*'$1#(:@2'II(IK3OM$3/P(576(a("*+'%N'%$*P(58(a("*+'%I'1."*P(6L(a(*/+1%/I(."II'%P(6L:(a(*/+1%/I(."II'%(:(2'IIP(:M(a(:(M'IO'%P(
:67(a(+13$%(*'2%$#"#(N/2+$%P(:%',(a(:(%',1I/+$%KH
DDK
4)/%& 2%/%1.02& 402& .$%& /0(16%R& 04& `PSB
`PS;D+*3+*:&120.%+*B&)*3&AC>"9&#$%&/-;
.016),(+/& 30()+*& 04& #`^"& +,& ,+(+6)2& .0
.$).& 04& .$%&+*.%26%'M+*& >& 2%/%1.02& .-1%& >
<G`;>^>@&)*3&0.$%2&G`;>^&4)(+6-&(%(D%2,
)*3& +,& M*05*& ),& .$%& @JS& 30()+*& <402
#066NG`;>& 2%/%1.02@9>!& b$%*& 6+:)*3& +,
D0'*3& .0& )& #G^& 30()+*\/0*.)+*+*:& 2%;
/%1.02B&0*%&02&(02%&)3)1.%2&120.%+*,&.$).
)6,0&/0*.)+*&#G^&30()+*,&)2%&2%/2'+.%3&.0
.$%& /0(16%R9& Q-Ccc& 5),& .$%& I2,.& 04
.$%,%&)3)1.%2,&.0&D%&+3%*.+I%3K&.$%&0.$%2
M*05*& )3)1.%2,& )2%& #G^FP& <#G^& 30;
()+*\/0*.)+*+*:& )3)1.%2& 120.%+*@B& #^G=
<#G^& 30()+*\/0*.)+*+*:& )3)1.%2& +*3'/;
+*:& G=E; @B& )*3& #^FQ& <#^G=;2%6).%3
)3)1.%2& (06%/'6%@9>V& e*:):%(%*.& 04& .$%
)3)1.%2B&+*&.'2*B&)/.+8).%,&0*%&02&(02%&04
.$%& G`;>^\),,0/+).%3& M+*),%,& <G^FO>& .0
G^FO"@B& 5$+/$& .$%*& ,+:*)6& .$20':$
#^F=WB&)&(%(D%2&04&.$%&#^F=&<#E=&2%;
/%1.02\),,0/+).%3& 4)/.02@& 4)(+6-B& )*3
#FO>& <#]=; \)/.+8).%3& M+*),%@& .0& )/.+;
8).%&.$%&GOO&/0(16%R9>"
J/.V-:9:()/+M[/K
F&()f02&D2%)M.$20':$&+*&.$%&)*)6-,+,&04
/-.0M+*%;(%3+).%3& ,+:*)6& .2)*,3'/.+0*
5),&.$%&+3%*.+I/).+0*&04&)&/0((0*&/%66
,'24)/%&.0&*'/6%',&1).$5)-&',%3&D-&.$%
()f02+.-& 04& /-.0M+*%,9& #$+,& l)MNS#F#
1).$5)-& 5),& I2,.& %6'/+3).%3& .$20':$
/)2%4'6&)*)6-,+,&04&,+:*)6+*:&+*+.+).%3&D-
G=E&2%/%1.02,&<=+:9&>>;V@&D'.&5),&,'D,%;
J'%*.6-& ,$05*& .0& 16)-& )& 206%& +*& ,+:*)6;
B#C>?9(DDF< 92+"R/+"$*($N(*12I'/%(N/2+$%( ?(S67@ ?Tf%',1I/+'&(,'*'#(/N+'%(#",*/I"*,(4K(%'2'O+$%# +*:& D-& )66& /-.0M+*%,& .$).& D+*3& .0& (%(;
N$%(O%"3/%K(2K+$."*'#($%(4K(:$II@I".'(%'2'O+$%#(S:8<#T('*,/,'&(4K(3"2%$4"/I(O%$&12+#H(D*&'%(%'#+"*,(2$*@ D%2,& 04& .$%& $%().010+%.+*& 2%/%1.02
4)(+6-9>U& #$%& l)MNS#F#& 1).$5)-& 01%2;
&"+"$*#U(67@ ?(S/(M'+'%$&"3'%($N(OqG(/*&(Ojq(#141*"+#T("#(+",M+IK(4$1*&(+$(/*("*M"4"+$%(2/II'&(& 6(+M/+(#'@
).%,& .$20':$& .$%& ,%J'%*.+)6& )/.+0*& 04& )
Q1'#+'%#(67@ ?("*(+M'(2K+$OI/#3H(>*,/,'3'*+($N($*'($N(+M'(:8<#($%(+M'(#",*/I(+%/*#&12"*,(%'2'O+$%#(N$%
4)(+6-& 04& 40'2& *0*2%/%1.02& .-20,+*%& M+;
"*+'%I'1."*(F(S58@FT($%(+13$%(*'2%$#"#(N/2+$%(S:67T(N/3"IK(3'34'%#(I'/&#(+$("*&12+"$*($N(5 ?(."*/#'(/2+"R@ *),%,& <.$%& l)M,& 02& P#*',& 4)(+6-& A+*),%,@
"+K(+M/+(OM$#OM$%KI/+'#(5 ?($*(2%"+"2/I(#'%"*'(%'#"&1'#H()M$#OM$%KI/+'&(5 ?(4'2$3'#(/(#14#+%/+'(N$%(14"Q@ )*3&)&,%2+%,&04&6).%*.&/-.0,06+/&.2)*,/2+1;
1"+"*/+"$*U([M"2M(+%",,'%#(&',%/&/+"$*($N(5 ?(4K(+M'(_j-(O%$+'/#$3'H(8$##($N(5 ?(%'#1I+#("*(%'I'/#'($N(67@ .+0*& 4)/.02,& M*05*& ),& 0@R@+& <++:*)6
?U([M"2M(O'%3"+#("+(+$(3$R'(+$(+M'(*12I'1#(/*&(/2+"R/+'(+%/*#2%"O+"$*($N(,'*'#([M$#'(O%$3$+'%#(2$*+/"* $2)*,3'/%2,& )*3& #/.+8).02,& 04& $2)*,/2+1;
?(%'2$,*"+"$*(#"+'#H(D4(a(14"Q1"+"*H( .+0*@9&#$%&/-.016),(+/&102.+0*,&04&()*-
/-.0M+*%& 2%/%1.02& /$)+*,& )2%& *0*/0;
H&,-,.%(&30&,0&.$20':$&.$%&)/.+8).+0* /0((0*9& F(0*:& .$%& :%*%,& 2%:'6).%3 8)6%*.6-&),,0/+).%3&5+.$&0*%&04&.$%&40'2
04&)*&G H&M+*),%&<GOO@&/0(16%R&/0*,+,.; D-&E=; H&)2%&G`;> &)*3&#E=; 9&#$+,&%*; l)M,& [l)M>B& l)M!B& l)MVB& )*3& .-20,+*%& M+;
+*:& 04& .50& M+*),%& ,'D'*+.,& <GOO & )*3 305,&G`;> &)*3&#E=; &5+.$&.$%&/)1)/; *),%&!&<#-M!@_9
GOO @& )*3& )& 2%:'6).02-& ,'D'*+.& <GOO @9 +.-& .0& %,.)D6+,$& )& 10,+.+8%& 2%:'6).02- #$%& )/.+8+.-& 04& .$%& l)M& M+*),%,& +,& '1;
#$%& GOO& /0(16%R& 1$0,1$02-6).%,& G H 6001& .$).& 4)802,& 1%2,+,.%*.& +*L)((); 2%:'6).%3& )4.%2& ,.+('6).+0*& 04& .$%& /-.0;
)*3& G H & 0*& ,1%/+I/& ,%2+*%& 2%,+3'%,B .+0*9& A-.0M+*%,& D%,+3%,& G`;>& )*3& #E= M+*%&2%/%1.029&`+:)*3&D+*3+*:&.0&.$%&/-;
-+%63+*:& )& .)2:%.& 402& 2%/0:*+.+0*& D-& )* .$).&)/.+8).%&.$%&E=; H&1).$5)-&),&1)2. .0M+*%&2%/%1.02,&6%)3,&.0&.$%&),,0/+).+0*
eV&'D+J'+.+*&6+:),%&/0(16%R9&#$%&2%,'6.; 04&.$%+2&,+:*)6&.2)*,3'/.+0*&(%/$)*+,(, 04&.50&02&(02%&3+,.+*/.&/-.0M+*%&2%/%1;
+*:& 106-'D+J'+.+*).+0*& ()2M,& .$+,& G H +*/6'3%&G`;>Z&)*3&G`;>c9 .02& ,'D'*+.,& )*3& D2+*:,& .$%& ),,0/+).%3
402&2)1+3&3%:2)3).+0*&D-&.$%&!WS&120.%); P20;+*L)(().02-& /-.0M+*%,& )2%& *0. l)M& M+*),%,& +*.0& /60,%& 120R+(+.-& 5+.$
,0(%& /0(16%R& +*& .$%& /-.016),(9& X*/% .$%&0*6-&,.+('6+&.$).&/)*&)/.+8).%&.$%&E=; %)/$& 0.$%29& #$+,& 120(0.%,& /20,,;1$0,;
G H& $),& D%%*& 3%:2)3%3B& .$%& 42%%& E=; H H&1).$5)-9&H)/.%2+)6&1203'/.,&<%9:9B&6+10; 1$02-6).+0*& 02& )'.01$0,1$02-6).+0*& 2%;
<5$+/$& /0*.)+*,& )& *'/6%)2& 60/)6+T).+0* 106-,)//$)2+3%B&02&`PS@B&0R+3)*.,B&)/.+8); )/.+0*,&.$).&+*&.'2*&4'66-&)/.+8).%&.$%&M+;
,+:*)6@& +,& )D6%& .0& 1),,& +*.0& .$%& *'/6%', .02,&04&120.%+*&M+*),%&A&<%9:9B&1$02D06&%,; *),%,9& #-20,+*%,& +*& .$%&/-.016),(+/& .)+6
)*3& +*3'/%& %R12%,,+0*& 04& E=; H\,%*,+; .%2,@B& 8+2',%,B& )*3& '6.2)8+06%.& <Yk@ 04& .$%& /-.0M+*%& 2%/%1.02& ),& 5%66& ),& .-;
.+8%&:%*%,9&#$%&12%,%*/%&04& H&2%/0:*+; 2)3+).+0*&)2%&0.$%2&,.+('6+&.$).&/)*&,.+(; 20,+*%,& 0*& 0.$%2& ),,0/+).%3& )*3& *%56-
.+0*&,+.%,&+*&/-.0M+*%&120(0.%2,&+,&8%2- '6).%& E=; H& )/.+8+.-9& #`^"& +,& )& /%66& ,'2; 2%/2'+.%3& 120.%+*,& )2%& )6,0& 1$0,1$02-;
DDM
.$%&4)/.&.$).& %1+.$%6+)6& G`;> & +,& ,.02%3& +*
.$%& /-.016),(& 04& /%66,& .$).& /0(12+,%& )*
+*.%24)/%&5+.$&.$%&%R.%2*)6&%*8+20*(%*.9
S'/$&/%66,B&5$%*&+*f'2%3B&2%6%),%&D+060:+;
/)66-&)/.+8%&V>;M3&G`;> &)*3B&D-&30+*:&,0B
/)*& +*+.+).%& +*L)(().+0*9U& G4& '*+*f'2%3B
$05%8%2B& .$%,%& /%66,& 5+66& 3+44%2%*.+).%
)*3&'6.+().%6-&2%6%),%&.$%+2&G`;>&/0*.%*.,
+*.0& .$%& %*8+20*(%*.9& `%'M0/-.%,B& +*;
/6'3+*:& 3%*32+.+/& )*3& `)*:%2$)*,& /%66,B
/)22-&.$%+2&/)2:0&04&G`;>&+*,+3%&.$%&D03-B
5$%2%&+.,&'*2%:'6).%3&2%6%),%&/0'63&/)',%
,+:*+I/)*.& .+,,'%& 3)():%9& #$',B& D+060:+;
/)66-& )/.+8%& G`;> & 2%6%),%& 420(& /%66,& +,
/0*.2066%3& ).& ,%8%2)6& 6%8%6,7& G`;> & :%*%
.2)*,/2+1.+0*B& /),1),%& >& :%*%& .2)*,/2+1;
.+0*B&)*3&)8)+6)D+6+.-&04&.$%&)3)1.%2&120;
.%+*,& FSA& )*3& G1)4& .$).& +*.%2)/.& 5+.$
/),1),%&>&+*&.$%&+*L)((),0(%&.0&)6605
.$%& :%*%2).+0*& 04& ().'2%& G`;> 9>W& #$%
206%&04&G`;> &+*&.$%&(+:2).+0*&04&`)*:%2;
$)*,&/%66,&420(&.$%&%1+3%2(+,&3'2+*:&.$%
+*+.+).+0*&04&/0*.)/.&$-1%2,%*,+.+8+.-&+,&)
1+80.)6&%8%*.&+*&.$%&%:2%,,&04&`)*:%2$)*,
/%66,&420(&.$%&%1+3%2(+,&)*3&.$%&:%*%2);
.+0*& 04& ,'//%,,4'6& ,%*,+.+T).+0*9& S.'3+%,
04&(+/%&3%I/+%*.&+*&G`;> &)*3&G`;> &:%*%,
,'::%,.& .$).& D0.$& (06%/'6%,& )2%& +(102;
.)*.& +*& /0*.)/.& $-1%2,%*,+.+8+.-& D'.& .$).
G`;> &+,&(02%&/2+.+/)69
B#C>?9(DDFO )/%+"2"O/+"$*($N(J/.(SJ/*1#(."*/#'T(/*&(-:9:(S#",*/I(+%/*#&12'%(/*&(/2+"R/+$%($N(+%/*#@ F/.+8%&402(,&04&G`;>&D+*3&.0&.$%&G`;>^>
2%"O+"$*T(O%$+'"*#("*("*+'%N'%$*@ (S576@ T(#",*/I"*,H(?"*&"*,($N(M13/*(576@ (S/(&"3'%T(+$("+#(%'2'O+$%(4%"*,# 02&.-1%&>&G`;>&2%/%1.029>!&#$+,&+,&.$%&,06%
/4$1+($I",$3'%"d/+"$*($N(%'2'O+$%(2$3OI'X'#(2$3O$#'&($N( (/*&( (2M/"*#H(:M'(*$*%'2'O+$%(O%$+'"*(+K@ ,+:*)6;.2)*,3'/+*:& 2%/%1.02& 402& G`;>B& )*3
%$#"*'(."*/#'#(J/.F(/*&(J/._(/%'(/2+"R/+'&(/*&(OM$#OM$%KI/+'(2%"+"2/I(+K%$#"*'(%'#"&1'#("*(+M'(%'2'O+$% +.,&/-.016),(+/&30()+*&$),&6+..6%&$0(06;
#12M(/#(+M'(+K%$#"*'(/+(O$#"+"$*(\\G($N(+M'( (2M/"*(S=\\GTH(-:9:F (3$I'21I'#(/%'(%'2%1"+'&(+$(+M'(576@ 0:-& 5+.$& 0.$%2& /-.0M+*%& 2%/%1.02,B
%'2'O+$%(4/#'&($*(+M'(/NW*"+K($N(+M'"%(-%2(M$3$I$,K(_(S-E_T(&$3/"*#(N$%(+M'(OM$#OM$O'O+"&'(#'Q1'*2' ,$05+*:&:2%).%,.&$0(060:-&5+.$&.$%&@-33
:%*%& 1203'/.& +3%*.+I%3& +*& =.-+-12!3#9& F
/%$1*&(=\\GH(<'2'O+$%@/##$2"/+'&(-:9:F (3$I'21I'#(+M'*(&"3'%"d'(+M%$1,M(%'2"O%$2/I(-E_@OM$#OM$+K@
,%/0*3&/%66&,'24)/%&120.%+*B&.$%&G`;>^&)/;
%$#"*'("*+'%/2+"$*#H(:M'(%'#1I+"*,(-:9:F (&"3'%#(+%/*#I$2/+'(+$(+M'(*12I'1#(/*&(#+"31I/+'(+%/*#2%"O+"$*
/%,,02-&120.%+*B&02&G`;>^F/PB&(',.&),,0;
$N(576@ f%',1I/+'&(,'*'#H /+).%& 5+.$& G`;>^>& 402& ,+:*)6+*:& .0& 0//'29
b$%*&G`;>&%*:):%,&.$%&G`;>^>NG`;>^F/P
6).%39&F&,'D,%.&04&.$%&*%56-&1$0,1$02-; /0(16%RB& 2%/2'+.(%*.& 04& .$%& Q-Ccc
56:><8>DL56(F(79058=(;7(
6).%3& .-20,+*%,& /)*& .$%*& ,%28%& ),& 30/M; )3)1.%2&0//'2,B&406605%3& D-&+*.%2)/.+0*,
A=:;L56>-(S56:><8>DL56-(
+*:& 10+*.,& 402& )..)/$(%*.& 04& )33+.+0*)6 5+.$&0*%&02&(02%&04&.$%&G^FO,9&#$%,%&M+;
F U(F U(FgU(``T
,+:*)6+*:&120.%+*,&D%)2+*:&S2/&$0(060:- *),%,& +*& .'2*& ),,0/+).%& 5+.$& #^F=W9
!& <Sa!@& 30()+*,9& A-.016),(+/& S#F#, G`;>&+,& .$%&120.0.-1%&04&)&/-.0M+*%&.$). S.%15+,%& )/.+8).+0*& )*3& 2%/2'+.(%*.& 04
10,,%,,& Sa!& 30()+*,& )*3& )2%& 2%/2'+.%3 $),& D%%*& 3+,/08%2%3& ()*-& .+(%,& +* )33+.+0*)6&,+:*)6+*:&(06%/'6%,&/'6(+*).%
.0& .$%& 1$0,1$02-6).%3& /-.0M+*%& 2%/%1; ()*-&3+44%2%*.&D+060:+/&),,)-,9&C+,.+*/. +*&.$%&+*3'/.+0*&04&GOO&)/.+8+.-9&#$%&*%.
.02,& 8+)& .$+,& +*.%2)/.+0*9& a0(03+(%2+/ :%*%,&%*/03%&.$%& &)*3& &402(,&04&$'; 2%,'6.&+,&.$%&)/.+8).+0*&04&)&,%2+%,&04&E=;
02& $%.%203+(%2+/& S#F#& 120.%+*,& )2% ()*&G`;>B&5+.$&0*6-&!W& 1%2/%*.&$0(06; H\2%:'6).%3&:%*%,9
1$0,1$02-6).%3& D-& .$%& l)M& M+*),%,& )*3 0:-& ).& .$%& )(+*0& )/+3& 6%8%69& H0.$& G`;>, F&(06%/'6%&M*05*&),&.$%&J?7C&.%4%1$-.
,'D,%J'%*.6-& .2)*,60/).%& .0& .$%& *'; )2%& .2)*,6).%3& ),& V>;M3& (06%/'6%,& .$). #"$#/-"!+$B& 02& G`;>2)B& /)*& D+*3& .0& G`;>^>
/6%',9&G*&.$%&*'/6%',&.$%-&D+*3&2%/0:*+; 6)/M&)&,+:*)6&1%1.+3%B&)*3&D0.$&2%,+3%&+* D'.& 30%,& *0.& +*3'/%& ,+:*)6+*:& .$20':$
.+0*& ,%J'%*/%,& +*& CEF& )*3& ,.+('6).% .$%&/-.016),(9&#$+,&402(&04&G`;> &+,&D+; .$%& 2%/%1.029& #$+,& G`;>2)& %R+,.,& +*& .$2%%
.2)*,/2+1.+0*& 04& ,1%/+I/& :%*%,B& 04.%*& +* 060:+/)66-& )/.+8%B& D'.& V>;M3& G`;> & (',. )6.%2*).+8%6-& ,16+/%3& 402(,B& )*3& )*& +,0;
/001%2).+0*& 5+.$& 0.$%2& .2)*,/2+1.+0* D%&/6%)8%3&D-&/),1),%&>&<+*+.+)66-&.%2(%3 402(&1203'/%3&+*&(0*0/-.%,&+,&.$%&0*6-
4)/.02,9& #$%& ,)(%& S#F#& (06%/'6%,& /)* !"$%.3%(A!"7C N4-";%.$!"/& %"O)'%@& .0& :%*; 6+:)*3&402&.$%&G`;>^>&.$).&D0.$&/0*.)+*,
D%&+*8068%3&+*&,+:*)6+*:&D-&('6.+16%&3+4; %2).%&)*&)/.+8%&(06%/'6%9 )& ,+:*)6& 1%1.+3%& )*3& +,& ,%/2%.%3& 420(
4%2%*.& /-.0M+*%,9& #$%& ,1%/+I/+.-& 04& .$% G*& :%*%2)6B& G`;> & )11%)2,& .0& D%& .$% /%66,92&0.$%2&+,0402(,&04&G`;>2)B&D0.$
2%,10*,%&+*&.$%,%&+*,.)*/%,&()-&3%1%*3 30(+*)*.& 402(& 04& G`;>& 1203'/%3& D- 6)/M+*:& ,+:*)6& 1%1.+3%,B& )2%& /0*.)+*%3
0*& .$%& 402().+0*& 04& /0(16%R%,& +*8068; (0*0/-.%,B& ()/201$):%,B& `)*:%2$)*, 5+.$+*& %1+.$%6+)6& /%66,9& #$%& 4'*/.+0*& 04
+*:& S#F#,& )*3& 0.$%2& .2)*,/2+1.+0*& 4)/; /%66,B& )*3& 3%*32+.+/& /%66,B& 5$%2%),& G`;> G`;>2)&,%%(,&.0&D%& ),&)&1'2%&)*.):0*+,.
.02,& .$).& .$%*& ,%6%/.+8%6-& )/.& 0*& )& ,1%; 12%30(+*).%,&+*&%1+.$%6+)6&/%66,B&+*/6'3+*: 04& G`;>& 6+:)*3& D+*3+*:& .0& G`;>^>B& )*3
/+I/&,%.&04&:%*%,9 M%2).+*0/-.%,9& #$+,& +,& 6+M%6-& .0& 2%6).%& .0 D+*3+*:&04&G`;>2)&.0&G`;>^>&30%,&*0.&+*;
DD!
3'/%& .$%& (0D+6+T).+0*& 04& G`;>^F/P9
A0*,%J'%*.6-B& )6.$0':$& D0.$& G`;> N
)*3& G`;>2)& D+*3& 5+.$& %J'+8)6%*.& )4I*+;
.+%,&.0&G`;>^>B&.$%&),,0/+).+0*&04&G`;>^>
5+.$&G`;>^F/P&+*/2%),%,&.$%&)4I*+.-&402
G`;> N & ()*-4063& 5$+6%& *0.& )44%/.+*:
.$%&)4I*+.-&402&G`;>2)9&#$+,&+,&/0*,+,.%*.
5+.$& .$%& 0D,%28).+0*& .$).& )& 8),.& (06)2
%R/%,,& 04& G`;>2)& +,& 2%J'+2%3& .0& 4'66-& )*;
.):0*+T%&.$%&%44%/.,&04&G`;>9&#$%&D+060:+/
206%& 04& G`;>2)& +,& 6+M%6-& .0& D%& +*& .$%
J'%*/$+*:& 04& G`;>\(%3+).%3& +*L)(();
.02-&2%,10*,%,B&)*3&(+/%&3%I/+%*.&+*&G`;
>2)&,$05&%R)::%2).%3&)*3&1%2,+,.%*.&+*;
L)(().02-&2%,10*,%,9
F&,%/0*3&(%)*,&04&)*.):0*+T+*:&G`;>
)/.+8+.-& 0//'2,& 8+)& %R12%,,+0*& 04& )& ,%/;
0*3& 2%/%1.02& 402& G`;>B& G`;>^!9& #$+,& 2%;
/%1.02& $),& )& ,$02.& /-.016),(+/& 30()+*
)*3& ,%28%,& .0& D+*3& G`;> N & %4I/+%*.6-B
D'.& *0.& G`;>2)9& #$+,& Wc;M3& 2%/%1.02& /)*
D%& /6%)8%3& 420(& .$%& /%66& ,'24)/%& D-& )*
'*M*05*&120.%),%&)*3&2%6%),%3&),&)&,.);
D6%B&,06'D6%&"U;M3&(06%/'6%&.$).&2%.)+*,
)8+3& G`;>\D+*3+*:& 4'*/.+0*9& H-& D+*3+*:
.$%&4'*/.+0*)6&6+:)*3,&402&G`;>^>B&G`;>^!
,%28%,& .0& +*$+D+.& G`;>\(%3+).%3& 2%;
,10*,%,9& G.& +,& 6+M%6-& .$).& G`;>^!& +*$+D+.,
G`;>&)/.+8+.-&+*&)*0.$%2&5)-B&.$).&+,B&D-
),,0/+).+*:& 5+.$& G`;>^F/P& ).& .$%& /%66
B#C>?9(DDFQ :M'("*+'%I'1."*(F(%'2'O+$%(S58@F<T(N/3"IK(/*&(:$II@I".'(%'2'O+$%#(S:8<#T(1#'(/(2$33$*
,'24)/%& )*3& 2%(08+*:& )*3& ,%J'%,.%2+*:
"*+%/2'II1I/%(#",*/I"*,(O/+M[/KH(<'2'O+$%#(N$%(2K+$."*'#("*(+M'(58@F(N/3"IK(S+KO"W'&(4K(+M'(58@F(/*&(58@Fg
+.& 420(& .$%& 1006& )8)+6)D6%& .0& ),,0/+).%
5+.$&G`;>^>9&#$',B&,06'D6%&G`;>^!&D+*3, %'2'O+$%#T(#M/%'(/(2$33$*(#",*/I"*,(&$3/"*(["+M(+M'(:8<#(S:8<F(+$(:8<FFT(2/II'&(+M'(9#//:&;<=)",1,>(#"
.0&42%%&G`;>B&5$%2%),&/%66&,'24)/%&G`;>^! ?9&@A(&$3/"*H(:M'(:5<(&$3/"*(%'2'O+$%#("*+'%/2+(["+M(:5<(&$3/"*f2$*+/"*"*,(/&/O+'%(O%$+'"*#(#12M(/#
,%J'%,.%2,& G`;>^F/P9& eR12%,,+0*& 04& G`; 0K!gg(+M/+(2$1OI'(I",/*&(4"*&"*,(+$(/2+"R/+"$*($N(58@F<f/##$2"/+'&(."*/#'(S5<9LT(/*&(1I+"3/+'IK(/2+"R/@
>^!&/)*&D%&'12%:'6).%3&D-&)&*'(D%2&04 +"$*($N(*12I'/%(N/2+$%( ?(S67@ ?TH(58@F<92)(a(58@F<(/22'##$%K(O%$+'"*P(:<97(a(+13$%(*'2%$#"#(N/2+$%(%'@
,.+('6+B&+*/6'3+*:&/02.+/0,.%20+3,&)*3&G`; 2'O+$%f/##$2"/+'&(N/2+$%H
"9&a05%8%2B&G`;>^!&/)*&)6,0&D%&+*3'/%3
D-& +*L)(().02-& /-.0M+*%,B& +*/6'3+*: $0(060:B& 02+:+*)66-& /60*%3& ),& G`;>^21>9 .0& 2%6%),%& )& ().'2%& 402(& 04& .$%& 6+:)*39
G=E; &)*3&G`;>B&120D)D6-&),&)&/0(1%*,); G`;>c^& )60*%& +,& )& 605;)4I*+.-& 2%/%1.02 G`;VV&,.+('6).+0*&04&#$!&/%66,&120(0.%,
.02-& ,+:*)6& 3%,+:*%3& .0& 6+(+.& .$%& ,/)6% .$).& (',.& 2%/2'+.& G`;>c^F/P& <)&$0(060: .$%+2& 1203'/.+0*& 04& .$%& /$)2)/.%2+,.+/
)*3& 3'2).+0*& 04& .$%& +*L)(().02-& 2%; 04&G`;>^F/P@9&F,&402&G`;>B&D0.$&/$)+*,&04 #$!& /-.0M+*%,& G`;"B& G`;UB& )*3& G`;>?9& G`;
,10*,%9& P203'/.+0*& 04& G`;>^!& ,%28%,& .0 .$%&G`;>c&2%/%1.02&)2%&2%J'+2%3&402&,+:*)6 >^>B& G`;>c^B& G`;VV^& <S#!@B& .$%& #`^,B
()M%& .$%& 1203'/+*:& /%66& )*3& ,'220'*3; .2)*,3'/.+0*9&F6.$0':$&.$%2%&+,&*0&G`;>c )*3& .$%+2& 6+:)*3,& )2%& )66& D%,.& 8+%5%3& ),
+*:&/%66,&2%,+,.)*.&.0&G`;>\(%3+).%3&)/.+; $0(060:&04&G`;>2)B&)&(06%/'6%&M*05*&), %6%(%*.,& 04& .$%& +**).%& +(('*%& ,-,.%(
8).+0*9& G*.%2%,.+*:6-B& ,0(%& 04& .$%& (0,. J?7CXN6!",!"/&1.-$%!"&D+*3,&.0&,06'D6%&(); .$).&,+:*)6&.$%&12%,%*/%&04&3)*:%2&02&+*;
%4I/+%*.& G`;>\1203'/+*:& /%66,& )2%& )6,0 .'2%& G`;>c& )*3& 12%8%*.,& +.& 420(& D+*3+*: f'2-&.0&.$%&$0,.9>Z
.$%&D%,.&1203'/%2,&04&.$%&G`;>^!9 .0&.$%&G`;>c^&/0(16%R9 b$%*&G`;>&1203'/%3&D-&%1+3%2(+,&5),
G`;>c& 5),& I2,.& +3%*.+I%3& D),%3& 0*& +., Q02%& 2%/%*.6-B& +.& $),& D%/0(%& /6%)2 02+:+*)66-& +3%*.+I%3B& +.& 5),& *0.%3& .$).
/)1)/+.-&.0&+*3'/%&G=E; 9&X*%&*)(%&+*+; .$).& .$%2%& +,& )& 4)(+6-& 04& 2%/%1.02,& $0; D0.$& +*.)/.& %1+3%2(+,& )*3& ,.2).'(& /02;
.+)66-&12010,%3&402&.$+,&/-.0M+*%&5),&G`; (060:0',&.0&.$%&G`;>^>&)*3&G`;>c^&(06; *%'(& /0*.)+*%3& ,+:*+I/)*.& G`;>& )/.+8+.-B
> B& D%/)',%& 04& +.,& $0(060:-& 5+.$& G`;> %/'6%,B>!&$)8+*:&+*&/0((0*&)&#G^&(0.+4 5$+/$&6%3&.0&.$%&/0*/%1.&.$).&%1+3%2(+,
)*3& G`;> 9& `+M%& G`;> B& +.& +,& .2)*,6).%3& ), <=+:9&>>;"@9&F66&04&.$%,%&,$)2%&)*)60:0', 5),& )& ,$+%63& 04& ,%J'%,.%2%3& G`;>& ,'2;
)*& +*)/.+8%& 12%/'2,02& (06%/'6%& 04& !V& M3 ,+:*)6+*:& 1).$5)-,& +*+.+).%3& D-& .$% 20'*3+*:&.$%&$0,.B&5)+.+*:&.0&D%&2%6%),%3
)*3&+,&/6%)8%3&.0&)*&)/.+8%&>c;M3&,1%/+%, Q-Ccc&)3)1.%2&(06%/'6%9&X*%&04&.$%,% 0*&+*f'2-9&Q02%&2%/%*.6-B&+.&5),&0D,%28%3
D-&/),1),%&>9&G.&+,&1203'/%3&D-&('6.+16% 2%/%1.02,B&02+:+*)66-&M*05*&),&0@DB&5), .$).& $+:$& 6%8%6,& 04& .$%& G`;>2)& /0;%R+,.
/%66& .-1%,& +*& ,M+*B& +*/6'3+*:& M%2).+*0; +*+.+)66-& /$)2)/.%2+T%3& ),& )& :%*%& %R; 5+.$+*&M%2).+*0/-.%,K&$05%8%2B&2%1%).%3
/-.%,B& `)*:%2$)*,& /%66,B& )*3& (0*0/-.%,9 12%,,%3& D-& #$!& /%66,B& D'.& *0.& D-& #$> %R1%2+(%*.,& ,$05& .$).& +*& 8+2.')66-& )66
G`;>c& +*3'/%,& 1206+4%2).+0*B& /-.0.0R+/+.-B /%66,9&#$%&3%,/2+1.+0*&04&)&*).'2)6&6+:)*3 /),%,B&.$%&)(0'*.&04&G`;>&12%,%*.&+,&,'4I;
)*3&/-.0M+*%&1203'/.+0*&D-&#$>&)*3&*).; 402& S#!& 3%,+:*).%3& G`;VV& $),& )33%3& ) /+%*.&.0&08%2/0(%&)*-&10.%*.+)6&402&+*$+;
'2)6& M+66%2& <EO@& /%66,B& (0,.6-& ,-*%2:+,.+; *%5& (%(D%2& .0& .$%& G`;>& 4)(+6-& .$). D+.+0*& (%3+).%3& D-& G`;>2)9& S.'3+%,& $)8%
/)66-&5+.$&G`;>!9&#$%&G`;>c&2%/%1.02&D%)2, ,$)2%,& /$)2)/.%2+,.+/& 4%).'2%,& 04& 0.$%2 *05&,$05*&.$).&(%/$)*+/)6&,.2%,,&.0&M%;
,.2+M+*:& ,+(+6)2+.-& .0& .$%& G`;>& 2%/%1.029>! /-.0M+*%,& +*& .$%& 4)(+6-B& ,'/$& ),& )& 2%; 2).+*0/-.%,& 1%2(+.,& .$%& 2%6%),%& 04& 6)2:%
#$%& D+*3+*:& /$)+*& <G`;>c^@& +,& )*& G`;>^> J'+2%(%*.& 402& 120/%,,+*:& D-& /),1),%& > )(0'*.,& 04& G`;>& +*& .$%& )D,%*/%& 04& /%66
D<E
3%).$9&^%6%),%&04&G`;>&+*3'/%,&%R12%,,+0*
04& %*30.$%6+)6& )3$%,+0*& (06%/'6%,B& +*;
/6'3+*:&e;,%6%/.+*B&GAFQ;>B&)*3&kAFQ;
>B& ),& 5%66& ),& /$%(0.)/.+/& )*3& )/.+8).+*:
/$%(0M+*%,9& #$+,& )..2)/.,& *0.& 0*6-
(0*0/-.%,& )*3& :2)*'60/-.%,& D'.& )& ,1%;
/+I/& ,'D;101'6).+0*& 04& (%(02-& #& /%66,
.$).&D%)2&/'.)*%0',&6-(1$0/-.%&)*.+:%*
0*&.$%+2&/%66&,'24)/%9&Q%(02-&#&/%66,&10,;
+.+8%& 402& /'.)*%0',& 6-(1$0/-.%& )*.+:%*
)2%& )D'*3)*.& +*& +*L)(%3& ,M+*B& /0(12+,;
+*:&.$%&()f02+.-&04&#&/%66,&12%,%*.9&#$%2%;
402%B& )*-& +*f'2-& .0& .$%& ,M+*B& *0& ()..%2
$05&.2+8+)6B&2%6%),%,&G`;>&)*3&)..2)/.,&.$+,
101'6).+0*&04&(%(02-&#&/%66,9&G4&.$%-&%*;
/0'*.%2& .$%+2& )*.+:%*& +*& .$+,& (+/20%*8+;
20*(%*.B&.$%+2&)/.+8).+0*&)*3&,'D,%J'%*.
/-.0M+*%&1203'/.+0*&5+66&)(16+4-&.$%&+*;
L)(().02-&2%,10*,%9&#$+,&$),&D%%*&120;
10,%3&),&.$%&D),+,&04&.$%&/6+*+/)6&0D,%28);
.+0*& 04& +*L)(().+0*& +*& 2%,10*,%& .0
.2)'()B&M*05*&),&.$%&Y-%6"%.&.%#4$!-"9
:D0;<(6>A<;-5-(79A:;<Y(:E>(
;:E><()<509<=(A=:;L56>
#E=; &+,&.$%&120.0.-1%&402&)&4)(+6-&04&2%;
6).%3& ,+:*)6+*:& (06%/'6%,& .$).& (%3+).%
.$%+2&D+060:+/&%44%/.,&.$20':$&)&4)(+6-&04
2%6).%3& 2%/%1.02& (06%/'6%,9& #E=; & 5),
+*+.+)66-&/60*%3&0*&.$%&D),+,&04&+.,&)D+6+.-
.0& (%3+).%& .50& +*.%2%,.+*:& D+060:+/& %4;
4%/.,7&<>@&$%(022$):+/&*%/20,+,& 04& ()6+:;
*)*.&.'(02,B&)*3&<!@&+*L)(().+0*;),,0;
B#C>?9(DDF" :[$( 2$*+%/#+"*,( $1+2$3'#( $N( #",*/I"*,( +M%$1,M( +13$%( *'2%$#"#( N/2+$%( %'2'O+$%( F
/+).%3& /)/$%R+)9& F6.$0':$& #E=; & %R%2.,
()*-&04&+.,&D+060:+/)66-&+(102.)*.&%44%/., S:67<FTH(>*,/,'3'*+($N(:67<F(4K(+%"3'%"2(+13$%(*'2%$#"#(N/2+$%@ (S:67@ T(2/*(+%",,'%(/O$O+$#"#(/*&V
),&)&,06'D6%&(%3+).02B&*%56-&,-*.$%,+T%3 $%( *12I'/%( N/2+$%( ?( S67@ ?T( /2+"R/+"$*H( ?$+M( O%$2'##'#( "*R$IR'( +M'( /&/O+'%( O%$+'"*(:67<@/##$2"/+'&
#E=; & %R+,.,& ),& )& .2)*,(%(D2)*%& 120; &'/+M(&$3/"*(S:<9!!TU([M"2M(/##$2"/+'#(["+M(:67<F(R"/("*+'%/2+"$*#(4'+[''*(l&'/+M(&$3/"*#m(S!H!HT($*
.%+*&0*&.$%&/%66&,'24)/%9&F&,1%/+I/&(%.)6; 4$+M(O%$+'"*#H(7$%(67@ ?(/2+"R/+"$*U(:67<f/##$2"/+'&(N/2+$%(_(S:<97_T(/*&(%'2'O+$%@"*+'%/2+"*,(O%$+'"*
60120.%+*),%& M*05*& ),& @LK7 N4-";%.$!"/ S<5)T(/%'(%'Q1"%'&H(5*&12+"$*($N(/O$O+$#"#($221%#([M'*(+M'(&'/+M(&$3/"*f2$*+/"*"*,(O%$+'"*(7/#@/##$2"@
%"O)'%& F@R58G& +,& 2%,10*,+D6%& 402& (0,. /+'&(&'/+M(&$3/"*(O%$+'"*(S79!!T(/##$2"/+'#(["+M(:<9!!H(79!!(/I#$(2$*+/"*#(/(l&'/+M('NN'2+$%(&$3/"*m
#E=; & 2%6%),%& D-& #& /%66,& )*3& (-%60+3 S!H>H!HT(+M/+("*+'%/2+#(["+M(2/#O/#'(g(+$("*"+"/+'(+M'(/O$O+$+"2(O%$2'##H(AK#(a(2K#+'"*'H(S9&/O+'&(N%$3
/%66,9& #$%& /60,%,.& /0',+*& 04& #E=; & +, =1/*(JY(:%/*#&12"*,(#",*/I#($N(I"N'(/*&(&'/+MH(52"")B>7')5,//)67#/ !Y_\cU(FhhcP(/*&(6/,/+/(-Y(9O$O+$#"#
#E=; B&)6,0&M*05*&),&3)'12-$-<!" &F?@7 4K(&'/+M(N/2+$%H(5,// MMY`qqU(FhhcHT
G9& X.$%2& 2%6).%3& (06%/'6%,& +*& .$%& #E=
4)(+6-& +*/6'3%& 6-(1$0.0R+*& & <`#; @B
5$+/$& /0(D+*%,& 5+.$& `#; & .0& 402(& .$% 1%)2,&.0&D%&2%J'+2%3&402&+*+.+).+0*&04&,+:; *)6+*:& 30%,& *0.& +*8068%& .$%& l)MNS#F#
`#; > !& $%.%20.2+(%2K& =),& 6+:)*3& <=),`@K *)6+*:&)*3&%R12%,,+0*&04&D+060:+/&)/.+8+.-9 1).$5)-9& #E=; & %80M%,& .50& .-1%,& 04
#E=;2%6).%3& )101.0,+,;+*3'/+*:& 6+:)*3 #$%&+*+.+)6&/$)2)/.%2+T).+0*&04&#E=&2%; 2%,10*,%,&+*&/%66,7&<>@&120;+*L)(().02-
<#^FG`@K& #E=;2%6).%3& )/.+8).+0*;+*3'/%3 /%1.02,& 6%3& .0& .$%& 3+,/08%2-& 04& .50& 2%; %44%/.,B& )*3& <!@& +*3'/.+0*& 04& )101.0.+/
/-.0M+*%& <#^FEAe@K& )*3& AC"?& 6+:)*3 /%1.02&120.%+*,&/)1)D6%&04&D+*3+*:&#E=; /%66&3%).$&<=+:9&>>;U@9&#$%&120;+*L)(();
<AC>U"@9& F6.$0':$& ,0(%& 04& .$%,%& 0.$%2 & 5+.$& $+:$& )4I*+.-9& #$%& 1UU& 2%/%1.02 .02-& %44%/.,& 04& #E=; B& 5$+/$& +*/6'3%
#E=&4)(+6-&(%(D%2,&$)8%&*0.&D%%*&.2); 402&#E=&<#E=^>@&+,&2%,10*,+D6%&402&(0,. '12%:'6).+0*& 04& )3$%,+0*& (06%/'6%& %R;
3+.+0*)66-& 2%:)23%3& ),& /-.0M+*%,B& .$%+2 D+060:+/& )/.+8+.+%,& 04& #E=B& D'.& .$%& 1ZU 12%,,+0*&)*3&+*3'/.+0*&04&,%/0*3)2-&/-;
,.2'/.'2%& <)66& )2%& .-1%& GG& (%(D2)*%& 120; #E=&2%/%1.02&<#E=^!@&+,&)6,0&/)1)D6%&04 .0M+*%,& )*3& /$%(0M+*%,B& ,.%(& +*& 6)2:%
.%+*,& 5+.$& )*& +*.2)/%66'6)2& E;.%2(+*', .2)*,3'/+*:& ,+:*)6,& <'*6+M%& G`;>^!B 1)2.& 420(& )/.+8).+0*& 04& E=; H& )*3& /)*
)*3&)*&%R.2)/%66'6)2&A;.%2(+*',@&)*3&,+:; 5$+/$& )/.,& ,06%6-& ),& )& D+060:+/& ,+*M& 402 D%&.2)*,3'/%3&.$20':$&D0.$&#E=^>&)*3
*)6+*:&(%/$)*+,(,&)2%&/60,%6-&2%6).%3&.0 G`;>@9&#E=^>&)*3&#E=^!&$)8%&,'D,.)*; #E=^!9& G*3'/.+0*& 04& )101.0,+,& D-& ,+:;
.$0,%&04&#E=9&#$%&,06'D6%&402(,&04&#E=; .+)6&,.2%./$%,&04&/60,%&$0(060:-&)*3&)2% *)6+*:&.$20':$&#E=^>&3%1%*3,&0*&)&2%;
B& `#; & )*3& =),`& )2%& $0(0.2+(%2,B& )*3 D0.$& 12%,%*.& 0*& (0,.& .-1%,& 04& /%66,9 :+0*&M*05*&),&)&,%#$2&,-'#!"&.$).&+,&)D;
.$%& 12%30(+*)*.& 402(& 04& `#; & +,& .$% E%8%2.$%6%,,B& .$%2%& )2%& ,0(%& *0.)D6% ,%*.& +*& #E=^!B& ),& 5%66& ),& +*.%2)/.+0*,
(%(D2)*%;D0'*3&`#; > !&$%.%20.2+(%29 3+44%2%*/%,&D%.5%%*&.$%&.50&#E=^,9 5+.$&)33+.+0*)6&120.%+*,&5+.$&3%).$&30;
#2+(%2+T).+0*& 04& #E=& 2%/%1.02& 4)(+6- Y*6+M%& /-.0M+*%& 2%/%1.02,& 420(& ,%8; ()+*,&5+.$+*&.$%&#E=^>&,+:*)6+*:&/0(;
(%(D%2,& D-& .$%+2& .2+(%2+/& 6+:)*3,& )1; %2)6&04&.$%&0.$%2&6)2:%&4)(+6+%,B&#E=&,+:; 16%R9&S+:*)6+*:&+*+.+).%3& D-&6+:)*3&D+*3;
D<D
+*:& .0& #E=^>B& =),B& 02& 0.$%2& 3%).$ %.)*%2/%1.& +,& )11208%3& 402& ',%& +*& .2%).; !^ /&/$)+*9&#$%& /&/$)+*&+,&1$-,+/)66-&),,0;
30()+*\/0*.)+*+*:& 2%/%1.02,& +*& .$% +*:& /$20*+/& 16)J'%& 1,02+),+,& <,%%& A$)19 /+).%3&5+.$&l)MVB&)*3&)/.+8).+0*&04&l)MV&+,
#E=& 4)(+6-& %8%*.')66-& 6%)3,& .0& )/.+8); !VU@9&#$+,&/6),,&04&32':,&)6,0&$),&.$%&10; /2+.+/)6&.0&(0,.&,+:*)6+*:&+*+.+).%3&.$20':$
.+0*& 04& /),1),%& c& 02& >?& )*3& .$%& *'/6%)2 .%*.+)6&.0&D%&8)6')D6%&+*&.$%&.2%).(%*.&04 .$+,&,'D,%.&04&/-.0M+*%&2%/%1.02,9>c
/$)*:%,& )*3& CEF& 42):(%*.).+0*& /$)2; 0.$%2& +*L)(().02-& 3%2().0,%,9& P)2);
)/.%2+,.+/&04&)101.0,+,9 30R+/)66-B& .$%-& )2%& *0.& %44%/.+8%& ):)+*,. #:;9?89>N#:(<(*:@(#:;9?89>N#:(D" G ` ; !
F.& 6%),.& .50& #E=^& 4)(+6-& (%(D%2, )66&)'.0+(('*%&3+,%),%,h('6.+16%&,/6%; )*3&G`;>U&/)*&%)/$&)/.+8).%&EO&/%66,&)*3
<#E=^>&)*3&.$%&`#; &2%/%1.02@&)6,0&/0*; 20,+,& )11%)2,& .0& 502,%*& ,6+:$.6-& )4.%2 ,.+('6).%&1206+4%2).+0*&04&)/.+8).%3&#
.2+D'.%&.0&.$%&*02()6&)*).0(+/&3%8%601; .2%).(%*.& 5+.$& .$%,%& ):%*.,9& #$%& #E= /%66,9&G`;!&+,&)&1203'/.&04&)/.+8).%3&#
(%*.&04&.$%&6-(1$0+3&,-,.%(9&Q+/%&3%; )*.):0*+,.,& )2%& 105%24'6& +(('*0(03; /%66,B&)*3&G`;!^&+,&6)2:%6-&2%,.2+/.%3&.0
I/+%*.& +*& #E=; & 6)/M& :%2(+*)6& /%*.%2, '6).+*:&32':,B&)*3&)112012+).%&/)'.+0*&+, 6-(1$0+3&/%66,9&#$%&G`;>U&:%*%&+,&%R;
)*3&4066+/'6)2&3%*32+.+/&/%66,9&#E=^>&('; 2%J'+2%3& +*& .$%+2& ',%9& A),%,& 04& /'.)*%; 12%,,%3&D-&*0*6-(1$0+3&.+,,'%,B&)*3
.)*.&(+/%&,$05&.$%&,)(%&)D*02()6+.+%, 0',& #;/%66& 6-(1$0()& +*+.+)66-& .$0':$. +.,&.2)*,/2+1.+0*&+,&+*3'/%3&D-&YkH&2);
16',&)*&)D,%*/%&04&P%-%2m,&1)./$%,9&Q+/% .0& 2%12%,%*.& 1,02+),+,& $)8%& 2)1+36-& 120; 3+).+0*&+*&M%2).+*0/-.%,&)*3&ID20D6),.,
5+.$& *'66& ('.).+0*,& +*& `#; & 02& `#; :2%,,%3&.0&4'6(+*)*.&3+,%),%&)4.%2&.2%).; )*3&D-&`PS&+*&(0*0/-.%,&)*3&3%*32+.+/
$)8%&4'2.$%2&)D*02()6+.+%,&+*&6-(1$0+3 (%*.&5+.$&#E=&)*.):0*+,.,9&#E=&)*.):; /%66,9&Q'6.+16%&+,0402(,&04&G`;>U^ &)2%
02:)*0:%*%,+,& )*3& 4)+6& .0& 3%8%601& 1%; 0*+,.,&/)*&)6,0&)6605&.$%&%,/)1%&04&6).%*. 40'*3&+*&8)2+0',&$%().010+%.+/&)*3
2+1$%2)6&6-(1$&*03%,9 (-/0D)/.%2+)6& +*4%/.+0*,& 420(& +(('*% *0*;$%().010+%.+/&/%66,9&#$%&G`;!^&)*3
#E=; & +,& )*& +(102.)*.& (%3+).02& 04 /0*.206B& 5+.$& )& 10.%*.+)66-& 6%.$)6& 0'.; G`;>U^&/0(16%R%,&04&6-(1$0/-.%,&+*;
/'.)*%0',&+*L)(().+0*B&)*3&+.,&%R12%,; /0(%&402&.$%&1).+%*.9 /02102).%&'1&.0&.$2%%&2%/%1.02&/$)+*,B
,+0*& +,& +*3'/%3& +*& .$%& /0'2,%& 04& )6(0,. 5$%2%),&(0,.&0.$%2&/-.0M+*%&2%/%1.02
)66&+*L)(().02-&2%,10*,%,&+*&,M+*9&E02; /0(16%R%,&$)8%&.509&#$%&)4I*+.+%,&04
()6&$'()*&M%2).+*0/-.%,& )*3&M%2).+*0; 85C96!-(;7(:E>(A89--(5( G`;!^&)*3&G`;>U^&402&.$%+2&2%,1%/.+8%&6+;
/-.%& /%66& 6+*%,& 1203'/%& ,'D,.)*.+)6 SE>09:;);5>:56(<>A>):;<T( :)*3,&/)*&D%&2%:'6).%3B&)*3&.0&,0(%&%R;
)(0'*.,& 04& #E=; & )4.%2& ,.+('6).+0* 79058=(;7(A=:;L56>(<>A>):;<- .%*.B&G`;!&)*3&G`;>U&/0(1%.%&5+.$&%)/$
5+.$&`PS&02&Yk&6+:$.9&A'.)*%0',&+*L)(; 0.$%29&#$%&$+:$%,.;)4I*+.-&2%/%1.02
#$%&$%().010+%.+*&2%/%1.02&4)(+6-&<)6,0
().+0*&,.+('6).%3&D-&+22+.)*.,&)*3&/0*; /0(16%R%,&402&%)/$&6+:)*3&<)1120R+;
M*05*&),&.$%&43#++&J&4)$-A!"%&.%4%1$-.&:#'7
.)/.&,%*,+.+T%2,&+,&),,0/+).%3&5+.$&,.20*: ().%6-&>?\>> >@&/0*,+,.&04&.$%&G`;!^ /
!3)@&+,&.$%&6)2:%,.&04&.$%&/-.0M+*%&2%/%1.02
+*3'/.+0*&04&#E=; &1203'/.+0*&D-&M%2).; )*3 /&/$)+*,B&),&5%66&),&.$%+2&2%,1%/.+8%
4)(+6+%,& )*3& /0(12+,%,& )& *'(D%2& 04
+*0/-.%,9& eR10,'2%& .0& #E=; & /)',%, &/$)+*,&<G`;!^ B&)6,0&M*05*&),&AC!UB
,.2'/.'2)66-& 2%6).%3& .-1%& G& (%(D2)*%;
`)*:%2$)*,& /%66,& .0& (+:2).%& .0& 32)+*+*: )*3&G`;>U^ @9 / &)*3&G`;!^ / &5+.$0'.
D0'*3& :6-/0120.%+*,9& #$%& /-.016),(+/
6-(1$& *03%,B& 5$+/$& )6605,& 402& ,%*,+.+; .$% &/$)+*,&402(&)&4'*/.+0*)6&605%2;)4;
30()+*,& 04& .$%,%& 2%/%1.02,& ),,0/+).%
T).+0*& 04& *)+8%& #& /%66,9& X*%& (06%/'6)2
5+.$&*0*2%/%1.02&.-20,+*%&M+*),%&(06%; I*+.-&2%/%1.02&402&%+.$%2&6+:)*3&<>?\c&.0
(%/$)*+,(&.$).&()-&/0*.2+D'.%&.0&#E=; >?\>? >@9&F6.$0':$&D0.$&6+:)*3,&.2)*,;
/'6%,B& +*/6'3+*:& .$%& l)M& M+*),%,& )*3& ,2/
\+*3'/%3&(+:2).+0*&04&`)*:%2$)*,&/%66, (+.&,+:*)6,&.$20':$&.$%& /&/$)+*B&.$0,%
4)(+6-&M+*),%,9&F4.%2&6+:)*3&D+*3+*:&)*3
.05)23&6-(1$&*03%,&+,&2%3'/%3&%R12%,; ,+:*)6,&%6+/+.&08%26)11+*:&D'.&3+,.+*/.&2%;
2%/%1.02& 06+:0(%2+T).+0*B& .$%,%& ),,0/+;
,+0*& 04& .$%& e;/)3$%2+*& )3$%,+0*& (06%; ,10*,%,&+*&8)2+0',&/%66,9&F/.+8).+0*&04
).%3&*0*2%/%1.02&.-20,+*%&M+*),%,&1$0,;
/'6%&)4.%2&%R10,'2%&.0&#E=; 9&G*3'/.+0* 1$02-6).%&+*.2)/%66'6)2&,'D,.2).%,B&5$+/$ *)+8%&AC"&#&/%66,&D-&#;/%66&2%/%1.02&)*3
04& AA& /$%(0M+*%& 2%/%1.02& Z& 0*& D0.$ /0;,.+('6).02-&(06%/'6%,&+*3'/%,&%R;
6%)3,&.0&,+:*)6&.2)*,3'/.+0*9&Q0,.&04&.$%
%1+3%2()6& )*3& 3%2()6& )*.+:%*;12%,%*.; 12%,,+0*&04&G`;!B&G`;!^ B&)*3&G`;!^ / B
('6.+16%;/$)+*&2%/%1.02,&+*&.$%&$%().0;
+*:&/%66,&/022%6).%,&5+.$&(08%(%*.&+*.0 5$+/$&6%)3,&.0&8+:020',&1206+4%2).+0*9
10+%.+*& 2%/%1.02& 4)(+6-& /0*,+,.& 04& )& /-;
.$%& 32)+*+*:& 6-(1$).+/,9& #$%& 12%30(+; P2060*:%3&,.+('6).+0*&04&#;/%66&2%/%1.02
.0M+*%;,1%/+I/ & /$)+*& ,'D'*+.& 1)+2%3
*)*.& #E=^& %R12%,,%3& D-& M%2).+*0/-.%, )*3&G`;!^&6%)3,&.0&%R12%,,+0*&04&=),`
5+.$& 0*%& 02& (02%& ,$)2%3& 2%/%1.02& ,'D;
+,&#E=^>9&F'.0/2+*%&,+:*)6+*:&6001,&+*; )*3&)/.+8).+0*;+*3'/%3&/%66&3%).$9&F6;
'*+.,9& =+8%& ,$)2%3& 2%/%1.02& ,'D'*+.,
8068+*:& M%2).+*0/-.%;3%2+8%3& #E=; .$0':$&G`;!&,+:*)6+*:&4)/+6+.).%,&.$%
$)8%& D%%*& 3%,/2+D%3& .0& 3).%7& .$%& /0(;
)*3&#E=^>&6%)3&.0&M%2).+*0/-.%&1203'/; 3%).$&04&AC"&#&/%66,&+*&2%,10*,%&.0&,',;
(0* & /$)+*& < /@B& .$%& /0((0*& & /$)+*
.+0*& 04& )& 8)2+%.-& 04& #E=;+*3'/+D6%& ,%/; .)+*%3&%R10,'2%&.0&)*.+:%*B&G`;>U&+*$+D;
,$)2%3&D%.5%%*&.$%&G`;!&)*3&G`;>U&2%/%1;
0*3)2-&/-.0M+*%,9 +.,&G`;!\(%3+).%3&)/.+8).+0*;+*3'/%3
.02,K& )& 3+,.+*/.& /0((0*& & /$)+*& ,$)2%3
#$%& /%*.2)6& 206%& 04& #E=; & +*& +*L)(; /%66&3%).$&),&+.&,.+('6).%,&:205.$9&S+(+;
D%.5%%*& .$%& :2)*'60/-.%;()/201$):%
().02-& 3+,%),%,B& +*/6'3+*:& 2$%'().0+3 6)26-B&G`;>U&120(0.%,&1206+4%2).+0*&04
/060*-&,.+('6).+*:&4)/.02&<]Q;AS=@B&G`;VB
)2.$2+.+,& )*3& 1,02+),+,B& $),& D%/0(%& %8+; (%(02-&ACc&#&/%66,B&5$%2%),&G`;!&+*;
)*3& G`;U& 2%/%1.02,K& .$%& G`;>!^ !& /$)+*
3%*.&420(&/6+*+/)6&,.'3+%,9&A6+*+/)6&32':, $+D+.,&+.9&G`;>U&+,&)6,0&+*8068%3&+*&.$%&$0;
,$)2%3&D-&.$%&G`;>!&)*3&G`;!V&2%/%1.02,K
.$).&.)2:%.&.$%&#E=&1).$5)-&+*/6'3%&.$% (%0,.).+/&,'28+8)6&04&(%(02-&ACc&#
)*3&I*)66-&.$%&:6-/0120.%+*&>V?&<:1>V?@
$'()*+T%3&)*.+\#E=; &)*.+D03-&+*L+R; /%66,B&EO&/%66,B&)*3&EO&#&/%66,9&#$%,%
(06%/'6%B& 5$+/$& 1)2.+/+1).%,& +*& ,+:*)6;
+()DB& .$%& $'()*& )*.+\#E=; & )*.+D03- /0*.2),.+*:&D+060:+/&206%,&)2%&+66',.2).%3
+*:&D-&G`;W&)*3&2%6).%3&/-.0M+*%,9
)3)6'(+()DB& )*3& .$%& ,06'D6%& #E=& 2%; D-&(+/%&3%I/+%*.&+*&G`;!&02&G`;!^ B
/%1.02&%.)*%2/%1.9&C2':,&+*&.$+,&/6),,&)2% 5$+/$&3%8%601&)'.0+(('*%&3+,023%2,B
Y9S9& =003& )*3& C2':& F3(+*+,.2).+0* AK+$."*'#(["+M(<'2'O+$%#(:M/+( )*3&(+/%&3%I/+%*.&+*&G`;>U&02&G`;>U^ B
<=CF@& )11208%3& 402& .$%& .2%).(%*.& 04 5$+/$&$)8%&6-(1$01%*+)&)*3&+(('*%
5*2I1&'(+M'( 2(AM/"*
,%8%2)6& )'.0+(('*%& )*3& +*L)(().02- 3%I/+%*/+%,9&#$',&G`;>U&)11%)2,&.0&$)8%
3+,%),%,B& +*/6'3+*:& A20$*& 3+,%),%& )*3 #$%&2%/%1.02&/0(16%R%,&',+*:&.$%& /&/$)+* )*&+(102.)*.&206%&+*&120(0.+*:&%44%/.02
2$%'().0+3& )2.$2+.+,9& F66& 04& .$%,%& )*.+; )2%& .$%& G`;!B& G`;"B& G`;ZB& G`;dB& G`;>VB& G`;>UB 4'*/.+0*,&04&)*.+:%*;,1%/+I/&#&/%66,B
#E=& 32':,& )2%& )6,0& =CF& )11208%3& 402 )*3& G`;!>& 2%/%1.02,9& #50& 04& .$%,%& 2%/%1; 5$%2%),&G`;!&+,&+*8068%3&+*&2%+*+*:&+*
.$%& .2%).(%*.& 04& 1,02+).+/& )2.$2+.+,B& )*3 .02,B& G`;!^& )*3& G`;>U^B& )6,0& ',%& .$%& G`; )'.02%)/.+8%&#&/%66,9>d
D<<
#:;9?89>N#:(Q(*:@(#:;9?89>N#:(DO G ` ; " #:;9?89>N#:(!(*:@(#:;9?89>N#:(<D G`;d&+, )*3&)&,%/0*3&2%/%1.02&/$)+*&$0(060:0',
)*3&G`;>V&)2%&1203'/.,&04&)/.+8).%3&#$! )&1203'/.&04&)/.+8).%3&#$!&/%66,&.$).&)/., .0&D'.&3+,.+*/.&420(&.$%& /&/$)+*9&#S`P&$),
/%66,&.$).&,$)2%&6+(+.%3&,.2'/.'2)6&$0(06; ),&)*&)'.0/2+*%&:205.$&4)/.02&),&5%66&),&) )..2)/.%3& +*.%2%,.& D%/)',%& 04& +.,& )D+6+.-& .0
0:-&<)1120R+().%6-&V?&1%2/%*.@&)*3&08%2; (%3+).02&04&+*L)(().+0*9!!&G.&+,&)6,0&120; 12+(%& 3%*32+.+/& /%66,& .0& D%/0(%& ,.20*:%2
6)11+*:&D'.&3+,.+*/.&D+060:+/&)/.+8+.+%,9&F 3'/%3&D-&(),.&/%66,&+*&2%,10*,%&.0&G`;>?&02 ,.+('6).02,&04&#$!&/%66,9&#$+,&)/.+8+.-&()-
,1%/+I/&2%/%1.02&402&G`;"B&5$+/$&30%,&*0. ,.%(&/%66&4)/.029&G.&,.+('6).%,&1206+4%2).+0* 1%2(+.&#S`P&.0&40,.%2&.$%&3%8%601(%*.&04
D+*3&G`;>VB&+,&40'*3&0*&#&/%66,&)*3&EO 04&#&)*3&H&/%66,&)*3&120(0.%,&%R12%,,+0* ,0(%&.-1%,&04&)66%2:+/&3+,%),%,9!U
/%66,9&G.&/0*,+,.,&04&G`;"^ &<AC>!"@&)*3& / 04&+(('*0:60D'6+*&e&D-&H&/%66,9&G.&)6,0&%R;
)*3&.2)*,(+.,&,+:*)6,&8+)&l)M>&)*3&l)MV9&F %2.,&120;+*L)(().02-&%44%/.,&0*&(),.
,%/0*3&2%/%1.02&/0(16%R&.$).&/)*&D+*3 /%66,&)*3&%0,+*01$+6,9&G`;d\3%I/+%*.&(+/% AK+$."*'#(["+M(<'2'O+$%#(D#"*,(+M'(
%+.$%2 G`;"&02&G`;>V&+,&40'*3&0*&M%2).+*0; %R$+D+.&3%I/+.,&+*&(),.&/%66&)*3&:0D6%.&/%66 5*+'%I'1."*(`(<'2'O+$%( (AM/"*
/-.%,B&%*30.$%6+)6&/%66,B&)*3&0.$%2&*0*; 3+44%2%*.+).+0*9&G`;!>&+,&)6,0&)&1203'/.&04
#$%&2%/%1.02,&402&G`;VB&G`;UB&)*3&]Q;AS=
$%().010+%.+/&/%66,9&G.&/0*,+,.,&04&G`; #$!&#&/%66,&.$).&,+:*)6,&.$20':$&)&2%/%1.02
/0*,+,.& 04& '*+J'%& /-.0M+*%;,1%/+I/&
>V^ !&<AC!>V)>@&)*3&G`;"^ )*3&.2)*,; /0(10,%3&04&)&,1%/+I/& &/$)+*&<G`;!>^@
/$)+*,& 1)+2%3& 5+.$& )& /0((0*& & /$)+*
(+.,&,+:*)6,&8+)&l)M>&)*3&l)M!9&#$%,%&2%; $0(060:0',&.0&.$%&G`;"^& &/$)+*&)*3& /9!V
M*05*&),&J?7ZS &02& 4&<AC>V>@9&e)/$& 04
/%1.02,&)2%&%R12%,,%3&).&605&6%8%6,&+* FD,%*/%&04&)*&+*.)/.&G`;!>&2%/%1.02&+,&),;
.$%,%& 4)/.02,& )/.,& 0*& ,'D,%.,& 04& %)26-& $%;
2%,.+*:&/%66,B&)*3&.$%+2&%R12%,,+0*&+,&+*; ,0/+).%3&5+.$&+(1)+2%3&#$!&2%,10*,%,9!"
().010+%.+/&/%66,9!W&G`;VB&5$+/$&5),&12%8+;
/2%),%3&D-&8)2+0',&)/.+8).+*:&,+:*)6,9&A'; G`;d&)*3&G`;!>&/)*&D%&:20'1%3&.0:%.$%2
0',6-& M*05*& ),& '(3$!73!"%#/%& 4-3-")7+$!'(7
2+0',6-B&%R10,'2%&04&(0*0/-.%,&.0&G`;"&02 5+.$&G`;"&)*3&G`;>V&),&/-.0M+*%,&.$).&4'*/;
3#$!"/& :#4$-.B& +,& 12+*/+1)66-& )& 1203'/.& 04
G`;>V&,'112%,,%,&%R12%,,+0*&04&G`;"^ .+0*&),&%44%/.02,&04&)66%2:+/&+*L)(().02-
AC"i&#&/%66,&)*3&/)',%,&1206+4%2).+0*B&3+4;
)*3&G`;>V^ >B&5$%2%),&.$%&0110,+.%&%4; 120/%,,%,&)*3&()-&16)-&)*&+(102.)*.&206%
4%2%*.+).+0*B&)*3&/060*-&402().+0*&04&8)2+;
4%/.&+,&0D,%28%3&+*&M%2).+*0/-.%,9&H0.$ +*&),.$()&)*3&)66%2:+/&3+,023%2,9
0',&(-%60+3&/%66,&420(&D0*%&()22059&G`;U
,+:*)6&.2)*,3'/.+0*&1).$5)-,&)11%)2&.0
+,& )& 1203'/.& 04& #$!& AC"i& /%66,& )*3& )/.+;
/0*8%2:%&5+.$&.$%&)/.+8).+0*&04&S#F#WB #:;9?89>N#:(K Q'.).+0*,& )D20:).+*:& .$%
8).%3&(),.&/%66,&.$).&/0*8%-,&,+:*)6,&.0&H
5$+/$&+,&D0.$&*%/%,,)2-&)*3&,'4I/+%*.&.0 4'*/.+0*& 04& G`;ZB& G`;Z^ <AC>!Z@B /B& 02
/%66,&)*3&%0,+*01$+6,9&G`;U&$),&)&/0;,.+(';
32+8%&#$!&3+44%2%*.+).+0*9&F*0.$%2&/%66 l)MV& +*& (+/%& 02& $'()*,& /)',%& 12040'*3
6).02-&%44%/.&0*&H&/%66,&+*&.$).&+.&%*$)*/%,
,'24)/%&(06%/'6%&$0(060:0',&.0&G`; +(('*03%I/+%*/-& ),& )& 2%,'6.& 04& #;& )*3
.$%+2& 1206+4%2).+0*& )*3& +(('*0:60D'6+*
>V^ !#$.%2(%3 J?7CZS D&<AC!>V)!@B EO;/%66&3%16%.+0*9>c&#$+,&+,&12+*/+1)66-&3'%
%R12%,,+0*& 5$%*& .$%-& %*/0'*.%2& .$%+2
D+*3,&,1%/+I/)66-&.0&G`;>V&D'.&+,&*0. .0& .$%& +*3+,1%*,)D6%& 206%& 04& G`;Z& +*& 120;
/0:*).%& )*.+:%*9& G*& /0*f'*/.+0*& 5+.$& )*
M*05*&.0&.2)*,(+.&)*-&,+:*)6,9!? (0.+*:&.$%&%R1)*,+0*&04&6-(1$0/-.%,&)*3
%0,+*01$+6;)..2)/.+*:& /$%(0M+*%& M*05*
#$%&D+060:+/&%44%/.,&04&%*:):%(%*.&04 2%:'6).+*:&.$%&2%)22)*:%(%*.&04&.$%+2&)*.+;
), %-$#<!"B& G`;U&16)-,& )& /%*.2)6& 206%& +*&.$%
.$%&G`;"&2%/%1.02&8)2-&3%1%*3+*:&0*&.$% :%*&2%/%1.02&:%*%,9&G`;Z&+,&)&10.%*.&(+.0;
)//'('6).+0*& 04& %0,+*01$+6,& .$).& )//0(;
,1%/+I/&/%66&.-1%B&D'.&(0,.&1%2.)+*&.0&+., :%*&)*3&,'28+8)6&4)/.02&402&+(().'2%&6-(;
1)*+%,&1)2),+.+/&+*4%/.+0*,&)*3&,0(%&/'.);
12+*/+1)6&206%&),&)&:205.$&)*3&3+44%2%*.+; 1$0/-.%,& +*& .$%& D0*%& ()2205& )*3
*%0',& +*L)(().02-& 120/%,,%,9& G`;U& )1;
).+0*& 4)/.02& 402& #$!& /%66,9& eR10,'2%& 04 .$-(',9&#$%&,%/0*3&4'*/.+0*&04&G`;Z&+,&),
1%)2,&.0&D%&2%J'+2%3&.0&:%*%2).%&)&1006&04
*)+8%&#&/%66,&.0&G`;"&,.+('6).%,&.$%(&.0 )&(03+I%2&04&%44%/.02&/%66&4'*/.+0*,&+*&.$%
%0,+*01$+6& 12%/'2,02,& +*& D0*%& ()2205
1206+4%2).%& )*3& 3+44%2%*.+).%& +*.0& #$! 2%)/.+8%& 1$),%& 04& /%2.)+*& +(('*%& 2%;
.$).& /)*& D%& 2)1+36-& (0D+6+T%3& .0& .$%
/%66,B& 5$+/$& 1203'/%& (02%& G`;"B& 5$+/$ ,10*,%,9& G`;Z& .2)*,(+.,& )/.+8).+*:& ,+:*)6,
D6003B& 5$%2%),& %0.)R+*m,& 206%& +,& 40/',%3
+*& .'2*& 6%)3,& .0& )'.0/2+*%& ,.+('6).+0* .0& ().'2%& #& /%66,& )*3& /%2.)+*& )/.+8).%3& H
0*&2%/2'+.(%*.&04&.$%,%&%0,+*01$+6,&420(
.$).& 12060*:,& #$!& 2%,10*,%,9& #$',& .$% /%66,9& `+M%& G`;!B& G`;Z& $),& D%%*& ,$05*& .0
D6003&+*.0&,1%/+I/&.+,,'%&,+.%,9&]Q;AS=&+,
%R12%,,+0*& 04& G`;"& %)26-& +*& .$%& +(('*% ,.+('6).%&1206+4%2).+0*&04&/-.06-.+/&#&/%66,
)& :205.$& 4)/.02& 402& (-%60+3& 120:%*+.02,
2%,10*,%& /)*& +*+.+).%& )& /),/)3%& 04& #$! )*3& 6-(1$0M+*%;)/.+8).%3& M+66%2& /%66,& +*
1203'/%3& D-& )/.+8).%3& #& /%66,B& 1$):0;
/%66& 3%8%601(%*.& .$).& 2%,'6.,& +*& )& 12%; 8+.20& )*3& .0& %*$)*/%& .$%+2& )/.+8+.+%,& +*
/-.%,B& M%2).+*0/-.%,B& ID20D6),.,B& )*3& 8),;
30(+*).%6-& #$!& 2%,10*,%9& #$%& :%*%, 8+809& Q0*0/-.%,& %R10,%3& .0& G`;Z& 2%6%),%
/'6)2& %*30.$%6+)6& /%66,9& G*& )33+.+0*& .0& +.,
%*/03+*:&G`;"&)*3&G`;>V&)2%&60/).%3&+*&) G`;WB&G`;> B&G`;> B&)*3&#E=; &)*3&%R$+D+.
206%&+*&%)26-&$%().010+%,+,B&]Q;AS=&$),
/6',.%2&5+.$&G`;U&5$+/$&'*3%2:0%,&,.2'/; %*$)*/%3&.'(02+/+3)6&)/.+8+.-&+*&8+.209&G`;
10.%*.& %44%/.,& 0*& ()/201$):%,& )*3& 3%*;
.'2)6&/$)*:%,&3'2+*:&#$!&3+44%2%*.+).+0* Z& +,& )& 1)2.+/'6)26-& ,+:*+I/)*.& /-.0M+*%& 402
32+.+/&/%66,9&G*&8+.20&/'6.'2%&04&42%,$&`)*:%2;
.$).& )2%& ),,0/+).%3& 5+.$& +*/2%),%3& %R; 6-(1$0/-.%,&+*&.$%&,M+*&)*3&0.$%2&%1+.$%;
$)*,&/%66,&+*&.$%&12%,%*/%&04&]Q;AS=&120;
12%,,+0*9& F6.$0':$& *)+8%& #& /%66,& /)* 6+)6&.+,,'%,9&G.&+,&%R12%,,%3&D-&M%2).+*0/-.%,
(0.%,& .$%+2& .2)*,402().+0*& +*.0& ().'2%
()M%&605&6%8%6,&04&G`;"&5$%*&)/.+8).%3B +*&)&2%:'6).%3&4),$+0*B&)*3&.$+,&%R12%,,+0*
3%*32+.+/& /%66,& 5+.$& ()R+()6& +(('*0;
G`;"&+,&)6,0&1203'/%3&D-&)/.+8).%3&EO&# +,&.$0':$.&.0&D%&1)2.&04&)&2%/+120/)6&,+:*)6;
,.+('6).02-& 10.%*.+)6& 402& *)+8%& #& /%66,9
/%66,9& Q),.& /%66,& )*3& D),01$+6,& )6,0& 2%; +*:&3+)60:&D%.5%%*&3%*32+.+/&%1+3%2()6&#
#$%&%44%/.,&04&]Q;AS=&0*&3%*32+.+/&/%66,
6%),%& 12%402(%3& G`;"& 420(& ,%/2%.02- /%66,&)*3&M%2).+*0/-.%,&+*&('2+*%&,M+*9&O%;
120D)D6-&)//0'*.&402&.$%&32)().+/&)D+6+.-
:2)*'6%,& +*& 2%,10*,%& .0& =/ ^G;(%3+).%3 2).+*0/-.%,&2%6%),%&G`;Z&+*&2%,10*,%&.0&G=E;
04& ]Q;AS=& .0& %80M%& .$%2)1%'.+/& )*.+.';
,+:*)6,9& F& 120(+*%*.& )/.+8+.-& 04& G`;"& +, B& )*3& 3%*32+.+/& %1+3%2()6& #& /%66,& ,%/2%.%
(02&+(('*+.-&5$%*&.'(02&/%66,&)2%&%*:+;
.$%&,.+('6).+0*&04&/6),,&,5+./$+*:&04&.$% G=E; &+*&2%,10*,%&.0&G`;Z9
*%%2%3&.0&%R12%,,&+.9!Z
+(('*0:60D'6+*& :%*%,& 04& H& /%66,9& F, F*& G`;Z\2%6).%3& /-.0M+*%& ',+*:& 0*%
/2+.+/)6&4)/.02,&+*&#$!&3+44%2%*.+).+0*&)*3 /$)+*&04&.$%&G`;Z&2%/%1.02&),&1)2.&04&+.,&2%;
%44%/.02&4'*/.+0*B&G`;"&)*3&G`;>V&)2%&(%; /%1.02& +,& .$-(+/& ,.20()6& 6-(1$010+%.+* 5*+'%I'1."*(j(/*&(;+M'%(AK+$."*'#(["+M(
3+).02,& 04& ).01+/& +(('*+.-9& G*& )33+.+0* <#S`P@9&#S`P&5),&02+:+*)66-&+3%*.+I%3&),&)
<'2'O+$%#(D#"*,(CIK2$O%$+'"*(F`G
.0& /0*.2066+*:& .$%& D%$)8+02& 04& %44%/.02 *08%6&/-.0M+*%&1203'/%3&D-&)&.$-(+/&,.20;
/%66,& .$%-& )6,0& )/.& 3+2%/.6-& 0*& 2%,+3%*. ()6&/%66&6+*%&.$).&/0'63&)/.&),&)&:205.$&4)/; ^%/%1.02,& 402& )& :20'1& 04& /-.0M+*%,& +*;
.+,,'%&/%66,B&,'/$&),&+*&+*L)(().02-&)+2; .02&402&H;&)*3&#;6+*%):%&/%66,9&#$%&#S`P&2%; /6'3+*:& G`;WB& G`;>>B& G`;!ZB& 6%'M%(+)& +*;
5)-&2%)/.+0*,9!> /%1.02&/0*,+,.,&04&.$%&G`;Z&2%/%1.02& &/$)+* $+D+.02-& 4)/.02B& 0*/0,.).+*& QB& /+6+)2-
D<O
*%'20.201$+/&4)/.02B&)*3&/)23+0.201$+*;> $%21%,8+2',& c\),,0/+).%3& 3+,%),%,B& +*; G`;!V& +,& )& $%.%203+(%2+/& /-.0M+*%& +*
+*.%2)/.& 5+.$& )& $%().010+%.+*& 2%/%1.02 /6'3+*:& O)10,+& ,)2/0()& )*3& D03-& /)8; .$%&G`;>!&4)(+6-&.$).&/0*,+,.,&04&.$%&1"?
4)(+6-& (%(D%2B& :1>V?B& .$).& 30%,& *0. +.-\D),%3&6-(1$0(),9 /$)+*&04&G`;>!&+*&),,0/+).+0*&5+.$&)&3+,;
)11%)2&.0&+*.%2)/.&5+.$&)*-&6+:)*3&D-&+.; #$%&0.$%2&/-.0M+*%,&',+*:&:1>V?&),&) .+*/.& 1>d& /$)+*9& G`;!V& $),& 08%26)11+*:
,%649& #$%& :1>V?& (06%/'6%& +,& 2%/2'+.%3 ,+:*)6&.2)*,3'/%2&$)8%&3+8%2,%&D+0)/.+8+; )/.+8+.+%,& 5+.$& G`;>!& D'.& )6,0& +*3'/%,
+*.0&,+:*)6+*:&/0(16%R%,&5+.$&0.$%2&2%; .+%,9&G`;>>&+*$+D+.,&1203'/.+0*&04&+*L)(; 1206+4%2).+0*&04&(%(02-&#&/%66,9&G*.%2%,.
/%1.02& /$)+*,& 5$%*& .$%-& %*:):%& .$%+2 ().02-&/-.0M+*%,&)*3&$),&,$05*&,0(% +*&G`;!V&$),&D%%*&,1)2M%3&D-&.$%&0D,%2;
/0:*).%&6+:)*3,9 .$%2)1%'.+/& )/.+8+.-& +*& 1).+%*.,& 5+.$ 8).+0*& .$).& G`;!V& +,& +*8068%3& +*& .$%& +*;
G`;W&+,&.$%&(0,.&.$020':$6-&/$)2)/.%2; 1,02+),+,9& eR0:%*0',& G`;>>& )6,0& ,.+('; 3'/.+0*&04&#&/%66,&1203'/+*:&G`;>Z&<#$>Z
+T%3&04&.$%&/-.0M+*%,&.$).&',%&:1>V?&402 6).%,& 16).%6%.& 1203'/.+0*& )*3& $),& D%%* ,'D,%.@9!c&#$%&G`;!V&2%/%1.02&/0*,+,.,&04
,+:*)6+*:& )*3& ,%28%,& ),& )& 1)2)3+:(& 402 ',%3& .0& .2%).& .$20(D0/-.01%*+)& 0//'2; .50& /$)+*,7& .$%& G`;>!^ >& /$)+*& .$).
3+,/',,+0*& 04& .$%& D+060:+/& %44%/.,& 04& .$+, 2+*:& )4.%2& /$%(0.$%2)1-9& G`;!Z& +,& 3+,; 402(,& 1)2.& 04& .$%& G`;>!& 2%/%1.02& )*3& )
4)(+6-& 04& /-.0M+*%,9& G`;W& +,& -%.& )*0.$%2 /',,%3&+*&.$%&*%R.&,%/.+0*&5+.$&.$%&G`;>! ,1%/+I/& G`;!V& 2%/%1.02& %*/03%3& D-& )
%R)(16%&04&)&$+:$6-&16%+0.201+/&/-.0M+*% 4)(+6-&04&/-.0M+*%,9 :%*%&60/).%3&*%)2&.$%&G`;>!^ !&:%*%9!d
5+.$& ('6.+16%& %44%/.,9& F& ,%2+%,& 04& 3+44%2; #$%& *%5%,.& (%(D%2& 04& .$%& G`;>!
%*.&*)(%,&<+*/6'3+*:&JKL7 DB I74%33&+$!'(7 4)(+6-& +,& G`;!Z9& G`;!Z& +,& )6,0& )& $%.;
3#$-.)& :#4$-.& DB 13#+'#4)$-'#& /.-V$2& :#4$-.B 5*+'%I'1."*(F_U(5*+'%I'1."*(_`U( %203+(%2& )*3& /0*,+,.,& 04& )& ,'D'*+.
4)$-$-<!4& @& 4%33& ,!::%.%"$!#$!-"& :#4$-.B& )*3 /*&(5*+'%I'1."*(_cY()"R$+/I( /)66%3 8IJZ&.$).&+,&$0(060:0',&.0&G`;>!
2%1#$-4)$%7+$!'(3#$!"/&:#4$-.@&5%2%&',%3&402 AK+$."*'#(N$%(:(E'IO'%(F(/*&( 1"?&)*3&)&,%/0*3&,'D'*+.&M*05*&),&1DX
G`;W&D%402%&+.&5),&2%/0:*+T%3&.$).&)&,+*; .$).& +,& $0(060:0',& .0& G`;>!& 1VU9& G`;!Z
:6%& (06%/'6)2& ,1%/+%,& )//0'*.,& 402& )66& 04
:(E'IO'%(Fc(<'#O$*#'# 16)-,&)&206%&+*&.$%&%)26-&+*3'/.+0*&04&.$%
.$%,%&)/.+8+.+%,9&G`;W&)/.,&0*&)&5+3%&8)2+; G`;>!& +,& 3+44%2%*.& 420(& (0,.& 0.$%2& /-.0; #$>&2%,10*,%9V?&#$%&G`;!Z&2%/%1.02&/0*;
%.-&04&/%66,&04&$%().010+%.+/&02+:+*9&G`;W M+*%,& +*& .$).& +.,& )/.+8%& 402(& +,& )& $%.; ,+,.,&04&)&2%/%1.02&/)66%3&\0H7C&.$).&),;
,.+('6).%,& +(('*0:60D'6+*& ,%/2%.+0*& D- %203+(%2& 04& .50& 120.%+*,B& 1VU& )*3& 1"?9 ,0/+).%,& 5+.$& .$%& ,$)2%3& ,+:*)6;.2)*,;
H&/%66,&)*3&$),&(+.0:%*+/&%44%/.,&0*&H&6+*; G`;>!&+,&12+*/+1)66-&)&1203'/.&04&)*.+:%*; 3'/+*:&(06%/'6%&:1>V?9V>
%):%& /%66,& )*3& 16),()/-.0(),9& G`;W& )6,0 12%,%*.+*:& /%66,& ,'/$& ),& 3%*32+.+/& /%66,B #$%& G`;>!& 4)(+6-& 04& /-.0M+*%,& $),
120(0.%,& ().'2).+0*& 04& (%:)M)2-0; (0*0/-.%,B& ()/201$):%,B& )*3& /%2.)+*& H %(%2:%3& ),& )& 120(+,+*:& *%5& .)2:%.& 402
/-.%,&)*3&3+44%2%*.+).+0*&04&(-%60+3&/%66,9 /%66,&+*&2%,10*,%&.0&D)/.%2+)6&/0(10*%*.,B )*.+;/-.0M+*%&1$)2()/0.$%2)1-9&#$%&)1;
E0.& 0*6-& 30%,& +.& 1)2.+/+1).%& +*& $%().0; ]Q;AS=B& )*3& G=E; 9& F/.+8).%3& M%2).+*0; 120)/$&.$).&$),&D%%*&3%8%601%3&.$%&4'2;
10+%.+/& 3%8%601(%*.& )*3& 2%)/.+8%& +(; /-.%,&)2%&)*&)33+.+0*)6&,0'2/%&04&G`;>!&+* .$%,.&.0&3).%&+,& .)2:%.+*:& D0.$& G`;>!&)*3
('*%&2%,10*,%,B&D'.&G`;W&+,&)6,0&)&/%*.2)6 ,M+*9&a'()*&M%2).+*0/-.%,&/0*,.+.'.+8%6- G`;!V& 5+.$& (0*0/60*)6& )*.+D03+%,& 3+;
(%3+).02&04&.$%&,-,.%(+/&)/'.%;1$),%&2%; ()M%& .$%& 1VU& ,'D'*+.B& 5$%2%),& %R12%,; 2%/.%3&):)+*,.&.$%&/0((0*&1"?&,'D'*+.9
,10*,%9&G*/2%),%,&+*&/+2/'6).+*:&G`;W&6%8%6, ,+0*& 04& .$%& 1"?& ,'D'*+.& /)*& D%& +*3'/%3 F*& )*.+\$'()*& 1"?& (0*0/60*)6& )*.+;
,.+('6).%& $%1).0/-.%,& .0& ,-*.$%,+T%&)*3 D-& ,.+('6+& +*/6'3+*:& /0*.)/.& )66%2:%*,B D03-& <AE#X& >!ZU@& 5),& 2%102.%3& .0
2%6%),%&)/'.%;1$),%&120.%+*,9 1$02D06&%,.%2,B&)*3&Yk&2)3+).+0*9 ,$05&D%*%I/+)6&%44%/.,&+*&1$),%&G&.2+)6,&+*
#$%2%& )2%& .50& 3+,.+*/.& ,+:*)6& .2)*,; G`;>!& +,& )& /2+.+/)6& +(('*02%:'6).02- 1,02+),+,&1).+%*.,9V!&F&,+(+6)2&.$%2)1%'.+/
3'/.+0*&1).$5)-,&.2+::%2%3&D-&G`;W9&#$% /-.0M+*%&.$).&+,&/%*.2)6&.0&.$%&+*+.+).+0* )*.+D03-& <FH#;Zc"@& $),& 3%(0*,.2).%3
I2,.& 04& .$%,%& +,& (%3+).%3& D-& .$%& :1>V? )*3&()+*.%*)*/%&04&#$>&2%,10*,%,9&#$> %4I/)/-&+*&A20$*&3+,%),%9VV&#$%&3%8%601;
(06%/'6%&5$%*&+.&3+(%2+T%,&0*&%*:):%; 2%,10*,%,& .$).& )2%& 3%1%*3%*.& 0*& G`;>! (%*.& 04& )*.+;1"?& .$%2)1+%,& +,& ,%8%2)6
(%*.& D-& .$%& /0(16%R& 04& G`;W& )*3& G`; 1208+3%&120.%/.+8%&+(('*+.-&.0&+*.2)/%6; -%)2,&D%$+*3&)*.+\#E=; &32':,B&D'.&1"?
W^ 9& a0(03+(%2+T).+0*& 04& :1>V?& )*3 6'6)2&D)/.%2+)6&1).$0:%*,9&G`;>!&)6,0&$), +,&)*&)..2)/.+8%&.)2:%.&402&4'.'2%&32':&3%;
+.,& ),,0/+).%3& l)M& M+*),%,& <l)M>B& l)M!B ,.+('6).02-&%44%/.,&0*&EO&/%66,B&120(0.; 8%601(%*.&%4402.,&402&,0(%&.-1%,&04&+(;
#-M!@& 6%)3,& .0& )/.+8).+0*& 04& S#F#V9& F +*:& .$%+2& 1206+4%2).+0*B& /-.0.0R+/& 4'*/; ('*%;(%3+).%3&3+,%),%,9
,%/0*3& 1).$5)-& 04& :1>V?& ,+:*)6& .2)*,; .+0*B& )*3& .$%& 1203'/.+0*& 04& /-.0M+*%,B
3'/.+0*& +*8068%,& ^),& )*3& .$%& (+.0:%*; +*/6'3+*:& G=E; 9& G`;>!& $),& D%%*& ,$05*
)/.+8).%3&120.%+*&M+*),%&/),/)3%&)*3&2%; .0&D%&)/.+8%&+*&,.+('6).+*:&120.%/.+8%&)*; 85C96!-(;7(:E>(A89--(55(79058=(
,'6.,& +*& 1$0,1$02-6).+0*& )*3& )/.+8).+0* .+.'(02& +(('*+.-& +*& )& *'(D%2& 04& )*+; ;7(A=:;L56>(<>A>):;<-
04&)&.2)*,/2+1.+0*&4)/.02&02+:+*)66-&3%,+:; ()6&(03%6,9!Z F&,%/0*3&()f02&/6),,&04&/-.0M+*%&2%/%1;
*).%3 "(43%#.&:#4$-.&-:&J?7[9 #50& /$)+*,& .$).& )2%& 1)2.& 04& .$%& /%66 .02,& 5+.$& /0((0*& 4%).'2%,& +*/6'3%,
G`;W&+,&)*&+(102.)*.&/-.0M+*%&402&,M+* ,'24)/%& 2%/%1.02& 402& G`;>!& $)8%& D%%* .50&.-1%,&04&2%/%1.02,&402&G=E,B&G`;>?^B
)*3&+,&,'Df%/.&.0&3-,2%:'6).+0*&+*&,%8%2)6 /60*%39&H0.$&)2%&$0(060:0',&.0&0.$%2& )*3& .$%& 2%/%1.02,& 402& )33+.+0*)6& G`;>?\
$'()*& 3+,%),%,B& +*/6'3+*:& ,0(%& 5+.$ /$)+*,& +*& .$%& $%().010+%.+*& 2%/%1.02 2%6).%3&/-.0M+*%,&+*/6'3+*:&G`;>dB&G`;!?B
,M+*&()*+4%,.).+0*,9&G`;W&+,&1203'/%3&+* 4)(+6-& )*3& )2%& 3%,+:*).%3& >& )*3& !9 G`;!!B&)*3&G`;!"9
)&2%:'6).%3&4),$+0*&D-&M%2).+*0/-.%,B&I; #$% >& /$)+*& +,& ),,0/+).%3& 5+.$& #-M!
D20D6),.,B& )*3&8),/'6)2&%*30.$%6+)6& /%66, )*3&.$%& !&/$)+*&+*.%2)/.,&3+2%/.6-&5+.$
),&5%66&),& D-&6%'M0/-.%,& +*I6.2).+*:&.$% l)M!9& #$%& ,+:*)6+*:& /0(10*%*.& 04& .$% 5*+'%N'%$*#Y()%$+$+KO'#($N(
,M+*9&G`;W&/)*&,.+('6).%&.$%&1206+4%2).+0* G`;>!^& +,& .$%& !& /$)+*9& #$%& !& /$)+*& +, AK+$."*'#(-",*/I"*,(:M%$1,M(
04& $'()*& M%2).+*0/-.%,& '*3%2& ,0(% %R12%,,%3&+*&#$>&D'.&*0.&#$!&/%66,&)*3
/0*3+.+0*,9&P,02+),+,&+,&0*%&04&,%8%2)6&+*;
/(J/.V-:9:()/+M[/K
)11%)2,&.0&D%&/2+.+/)6&402&/0((+.(%*.&04
L)(().02-& ,M+*& 3+,%),%,& +*& 5$+/$& %6%; #& /%66,& .0& 1203'/.+0*& 04& .-1%& >& /-.0; G=E,&5%2%&0*%&04&.$%&I2,.&4)(+6+%,&04&/-;
8).%3& %R12%,,+0*& 04& G`;W& $),& D%%*& 3%; M+*%,9&G`;>!&,+:*)6+*:&+*3'/%,&.$%&1$0,; .0M+*%,& .0& D%& /$)2)/.%2+T%3& +*& 3%.)+69
,/2+D%39&a'()*&$%21%,8+2',&c&1203'/%, 1$02-6).+0*& 04& S#F#>B& S#F#VB& )*3 #$%&G=E,&5%2%&+*+.+)66-&,'D3+8+3%3&+*.0
)&8+2)6&$0(060:&04&G`;W&.$).&()-&D%&+*; S#F#"B&D'.&+.&+,&S#F#"&.$).&+,&%,,%*.+)6 .$2%%& /6),,%,7& G=E; & <.$%& 6%'M0/-.%
8068%3& +*& .$%& 1).$0:%*%,+,& 04& $'()* 402&+*3'/.+0*&04&)&#$>&2%,10*,%9 G=E,@B& G=E; & <ID20D6),.& G=E@B& )*3& G=E;
D<Q
<+(('*%&G=E@9&#$%& &)*3& &G=E,&)2%&/06; /%66,B& 5$+/$& /)*& .2+::%2& /6+*+/)66-& ',%4'6 ).%3& .$20':$& .$%& G`;>?& 2%/%1.02& ',%& )
6%/.+8%6-& /)66%3& $)1%& J& JKL+B& )*3& )66& 04 )*.+8+2)6& )*3& .'(02& +*$+D+.02-& %44%/., l)MNS#F#& 1).$5)-9& G`;>?& D+*3+*:& .0& +.,
.$%,%&(06%/'6%,&,+:*)6&.$20':$&.$%&,)(% ):)+*,.& :%*+.)6& 5)2.,B& ,'1%2I/+)6& D),)6 2%/%1.02&)/.+8).%,&.$%&l)M>&)*3&#-M!&M+;
.50;/$)+*& 2%/%1.02& <.$%& G=E; & 2%/%1; /%66& /)2/+*0()B& )*3& )/.+*+/& M%2).0,%,9 *),%,& )*3& 6%)3,& .0& .$%& )/.+8).+0*& 04
.02@9V"&#$%&,%/0*3&G=E&2%/%1.02&+,&)&3+,; ^%,+J'+(03& +,& )& 2%6).%3& ,-*.$%.+/& /0(; S#F#>&)*3&S#F#V9&#$%&%44%/.,&04&G`;>?
.+*/.& .50;/$)+*& 2%/%1.02& ,1%/+I/& 402 10'*3& .$).& )/.+8).%,& D0.$& #`^Z& )*3 0*& )*.+:%*;12%,%*.+*:& /%66,& ,'/$& ),
G=E; 9& H0.$& 04& .$%,%& G=E& 2%/%1.02,& )2% #`^cB&%6+/+.+*:&)&,6+:$.6-&3+44%2%*.&,1%/; (0*0/-.%,B& ()/201$):%,B& )*3& 3%*;
12%,%*.& 0*& ()*-& /%66& .-1%,& 5+.$+*& ,M+* .2'(&04&/-.0M+*%,9VW 32+.+/& /%66,& +*/6'3%& +*$+D+.+0*& 04& %R12%,;
),& 5%66& ),& +*& 0.$%2& .+,,'%,9& e)/$& 04& .$% P203'/.+0*&04&G=E; &+,&2%,.2+/.%3&.0&EO ,+0*&04&/6),,&GG&QaA&)*3&/0;,.+('6).02-
/$)+*,& /0(12+,+*:& .$%& .50& G=E& 2%/%1; /%66,B&ACc&#&/%66,B&)*3&#$>&AC"&#&/%66,9 (06%/'6%,& <%9:9B& HZ;>B& HZ;!@& )*3& 3%;
.02,&+,&),,0/+).%3&5+.$&0*%&04&.$%&l)M&M+; #$>& /%66,& 1203'/%& G=E; & )4.%2& %*:):%; /2%),%3&1203'/.+0*&04&#&/%66\,.+('6).+*:
*),%,& <#-M!& )*3& l)M>& 402& .$%& G=E; ^ (%*.& 04& .$%& #;/%66& 2%/%1.02B& )*3& G`;>! /-.0M+*%,&<%9:9B&G`;>B&G`;WB&)*3&G`;>!@9&F.
)*3&l)M>&)*3&l)M!&402&.$%&G=E; ^@9&X*6- /)*&1208+3%&)&,.20*:&/0;,.+('6).02-&,+:; 6%),.&40'2&8+2)6&:%*0(%,&$)2D02&8+2)6&$0;
+*&.$%&12%,%*/%&04&D0.$&/$)+*,&)*3&.50 *)6&402&#;/%66&G=E; &1203'/.+0*9&EO&/%66, (060:'%,& 04& G`;>?& .$).& .2)*,(+.& ,+(+6)2
4'*/.+0*)6&l)M&M+*),%,&5+66&%44%/.+8%&,+:; 1203'/%& G=E; & +*& 2%,10*,%& .0& /-.0M+*%, ,+:*)6,&D-&D+*3+*:&.0&.$%&G`;>?^9
*)6&.2)*,3'/.+0*&0//'2&)4.%2&G=E&D+*3+*:9 2%6%),%3& D-& ()/201$):%,B& +*/6'3+*: F&()f02&,0'2/%&04&G`;>?&5+.$+*&,M+*&+,
F&*%5&/6),,&04&G=E,&M*05*&),&JKL7 &02 #E=; B&G`;>!B&)*3&G`;>c9&G=E; &$),&)*.+; %1+3%2()6& M%2).+*0/-.%,9& O%2).+*0/-.%
$)1%& JJJ& JKL+& $),& *05& D%%*& +3%*.+I%3 8+2)6&)/.+8+.-B&D'.&+.&+,&)&6%,,&10.%*.&(%3+; G`;>?&1203'/.+0*&+,&'12%:'6).%3&)4.%2&)/;
.$).&$),&)&605&3%:2%%&04&$0(060:-&5+.$ ).02&.$)*&.$%&.-1%&G&G=E,&402&+*3'/.+0*&04 .+8).+0*K& 0*%& 04& .$%& D%,.;/$)2)/.%2+T%3
D0.$& .-1%& G& G=E,& )*3& G`;>?9VU& #$%& /'2; .$%,%&%44%/.,9&#$%&()f02&1$-,+060:+/&206% )/.+8).+*:& ,.+('6+& 402& M%2).+*0/-.%,& +,
2%*.& (%(D%2,& 04& .$+,& /6),,& )2%& G`;!cFB 04& G=E; & +,& +.,& /)1)/+.-& .0& (03'6).%& +(; Yk& +22)3+).+0*9& Yk& 2)3+).+0*\+*3'/%3
G`;!cHB& )*3& G`;!d9& F6.$0':$& .$%& %44%/., ('*%&2%,10*,%,9&G=E; &+*3'/%,&,-*.$%,+, M%2).+*0/-.%& G`;>?& 1203'/.+0*& 6%)3,& .0
04&.$%,%&/-.0M+*%,&)2%&,+(+6)2&.0&.$0,%&04 04& ('6.+16%& 120.%+*,& .$).& 16)-& %,,%*.+)6 60/)6&)*3&,-,.%(+/&%44%/.,&0*&+(('*+.-9
.$%& .-1%& G& G=E,B& .$%-& )2%& 6%,,& 10.%*.9 206%,& +*& )*.+:%*& 12%,%*.).+0*& .0& #& /%66,B S0(%&04&.$%&5%66;30/'(%*.%3&+(('*0;
#$%,%&.-1%&GGG&G=E,& ',%&)& ,$)2%3& 2%/%1; +*/6'3+*:&QaA&/6),,&G&)*3&/6),,&GG&:6-/0; ,'112%,,+8%& %44%/.,& .$).& 0//'2& )4.%2& Yk
.02&.$).&/0*,+,.,&04&.$%& &/$)+*&04&.$%&G`; 120.%+*,B& +*8)2+)*.& /$)+*B& .$%& `(1!& )*3 6+:$.&%R10,'2%&)2%&.$%&2%,'6.&04&.$%&6+D%2;
>?&2%/%1.02&),,0/+).%3&5+.$&)*&G`;!c&2%; `(1Z& /0(10*%*.,& 04& .$%& 120.%),0(%B ).+0*&04&M%2).+*0/-.%;3%2+8%3&G`;>?&+*.0
/%1.02 &/$)+*9 )*3& .$%& #FP>& )*3& #FP!& +*.2)/%66'6)2 .$%&,-,.%(+/&/+2/'6).+0*9&G`;>?&)6,0&16)-,
k+2',%,B& 30'D6%;,.2)*3%3& ^EFB& )*3 1%1.+3%& .2)*,102.%2,9& #$%,%& /$)*:%,& +*; )&3)(1%*+*:&206%&+*&0.$%2&.-1%,&04&/'.);
D)/.%2+)6&1203'/.,&)2%&)(0*:&.$%&,.+('6+ /2%),%&.$%&%4I/+%*/-&04&)*.+:%*&12%,%*.); *%0',& +(('*%& )*3& +*L)(().02-& 2%;
.$).&%6+/+.&2%6%),%&04&.$%&.-1%&G&G=E,&420( .+0*& .0& AC"& )*3& ACc& #& /%66,9& G=E; & +, ,10*,%,B& D%/)',%& .$%& )D,%*/%& 04& G`;>?
/%66,9& P6),()/-.0+3& 3%*32+.+/& /%66,& $)8% )6,0& 2%J'+2%3& 402& )/.+8).+0*& 04& ()/20; 12%3+,10,%,&(+/%&.0&%R)::%2).%3&+22+.)*.
%(%2:%3&),&)&1)2.+/'6)26-&10.%*.&/%66'6)2 1$):%,&.0&.$%+2&4'66&)*.+(+/20D+)6&10.%*; )*3&/0*.)/.&,%*,+.+8+.-&2%,10*,%,9
,0'2/%& 04& .-1%& G& G=E,9& Q)*-& 04& .$%& %4; .+)6B&%*)D6+*:&.$%(&.0&%6+(+*).%&(+/2002;
4%/.,&04&.$%&.-1%&G&G=E,&3+2%/.6-&02&+*3+; :)*+,(,&/)1)D6%&04&+*.2)/%66'6)2&:205.$9
2%/.6-& +*/2%),%& $0,.& 2%,+,.)*/%& .0& .$% `+M%& .-1%& G& G=E,B& G=E; & )6,0& $),& ,.20*: 6$R'I(5*+'%I'1."*(FGf<'I/+'&(
,12%)3& 04& 8+2)6& +*4%/.+0*9& F33+.+0*)6& %4; )*.+1206+4%2).+8%& %44%/.,& 0*& ,0(%& /%66 AK+$."*'#Y(5*+'%I'1."*#(FhU(
4%/.,& (%3+).%3& .$20':$& G=E; ^& )2% .-1%,9&=+*)66-B&G=E; &+,&)6,0&)*&+*3'/%2&04
_GU(__U(/*&(_\
+*/2%),%3& %R12%,,+0*& 04& ()f02& $+,.0; ,%6%/.%3& /$%(0M+*%,& <AoA& /$%(0M+*%
/0(1).+D+6+.-& /0(16%R& <QaA@& /6),,& G 6+:)*3,&d&.0&>>@&)*3&)*&+*3'/%2&04&%*30; F& ,%2+%,& 04& /-.0M+*%,& 2%6).%3& .0& G`;>?
(06%/'6%,&)*3&,.+('6).+0*&04&EO&/%66&)/; .$%6+)6& /%66& )3$%,+0*& (06%/'6%,& <%9:9B $)8%& D%%*& +3%*.+I%3& )*3& ,$05*& .0& %*;
.+8+.-9& E0.& 0*6-& 30%,& +.& $)8%& 5%66; GAFQ;>& )*3& kAFQ;>@9& H%/)',%& 04& .$% :):%& )& *'(D%2& 04& 2%/%1.02& /0(16%R%,
M*05*& )*.+8+2)6& %44%/.,B& D'.& G=E; & )6,0 D2%)3.$&04&G=E; m,&)/.+8+.+%,B&+.&/0(%,&.$% 5+.$& ,$)2%3& /$)+*,9Vc& G`;>dB& G`;!?B& )*3
/)*&(03'6).%&#;/%66&2%,10*,%,&D-&4)802; /60,%,.&04&.$%&#;/%66&/-.0M+*%,&.0&D%$)8; G`;!"& .2)*,(+.& ,+:*)6,& 8+)& )& /0(16%R
+*:&.$%&3%8%601(%*.&04&)&#$>&.-1%&04&#; +*:&),&)&12+()2-&/-.0M+*%9 /0*,+,.+*:& 04& G`;!?^ & )*3& G`;!?^ 9
/%66& 2%,10*,%9& =+*)66-B& .$%& .-1%& G& G=E, #2)*,:%*+/& (+/%& 08%2%R12%,,+*:& G`;!?
)6,0&+*$+D+.&.$%&1206+4%2).+0*&04&)&8)2+%.- 3%8%601&,%8%2%&/'.)*%0',&+*L)(().+0*
04&/%66&.-1%,B&5$+/$&1208+3%,&)&2).+0*)6% 5*+'%I'1."*(FGY(9*(l9*+"@ )*3& )6.%2%3& %1+3%2()6& 1206+4%2).+0*& )*3
402& .$%+2& ',%& +*& .$%& .2%).(%*.& 04& ,0(% 5*Z/33/+$%Km(AK+$."*' 3+44%2%*.+).+0*9&eR12%,,+0*&04&.$%&G`;!?^
.-1%,& 04& /)*/%29& =02(,& 04& G=E; & %*f0- /$)+*,& +,& ,.20*:6-& +*3'/%3& 5$%*& .$%-
/0*,+3%2)D6%& ',%& /6+*+/)66-& 402& +*3+/); G`;>?& +,& 0*%& 04& ,%8%2)6& /-.0M+*%,& .$). )2%&.2+::%2%3B&)*3&.$%-&)2%&0*6-&3%.%/.%3
.+0*,& 2)*:+*:& 420(& $)+2-& /%66& 6%'M%(+)B 12+()2+6-& %R%2.& 2%:'6).02-& 2).$%2& .$)* 0*& M%2).+*0/-.%,B& %*30.$%6+)6& /%66,B& )*3
8)2+0',& /'.)*%0',& ()6+:*)*/+%,B& )*3 ,.+('6).02-& %44%/.,& 0*& +(('*%& 2%; /%2.)+*& (0*0/-.%,& +*& ),,0/+).+0*& 5+.$
1)1+660()8+2',& +*4%/.+0*,& <,%%& A$)19 ,10*,%,9VZ&G`;>?&5),&I2,.&+3%*.+I%3&),&) +*L)(().02-&/0*3+.+0*,&,'/$&),&1,02+);
>dW@9&S0(%&04&.$%&,)(%&/0*3+.+0*,&.$). /-.0M+*%& 1203'/%3& D-& #$!& #& /%66,& .$). ,+,9Vd& G`;!!& )/.+8).%,& )& 2%/%1.02& /0*,+,.;
2%,10*3&.0&.$%2)1-&5+.$&.-1%&G&G=E,&)6,0 +*$+D+.%3&/-.0M+*%&1203'/.+0*&)4.%2&)/.+; +*:& 04& G`;!!^& )*3& G`;>?^ B& 5$%2%),& G`;
2%,10*3& .0& .01+/)6& +(('*0(03'6).02- 8).+0*&04&#&/%66,&D-&)*.+:%*&)*3&)*.+:%*; !?&)*3&G`;!"&)6,0&%*:):%&)&/0(16%R&+*;
):%*.,& 6+M%& +(+J'+(039& #$+,& ,-*.$%.+/ 12%,%*.+*:& /%66,9& G`;>?& %R%2.,& +.,& )/.+0* /02102).+*:& G`;!?^ & )*3& G`;!!^9"?B">
+(+3)T0J'+*06+*%&32':&+,&)*&):0*+,.&402 .$20':$&)&/%66&,'24)/%&2%/%1.02&40'*3&0* #$%& 12040'*3& %44%/.,& 04& G`;!?& %R12%,;
.$%&#`^Z&2%/%1.02B&5$0,%&*).'2)6&6+:)*3 ()/201$):%,B& 3%*32+.+/& /%66,B& *%'.20; ,+0*&+*&.2)*,:%*+/&(+/%&)*3&.$%&),,0/+);
+,& ,+*:6%;,.2)*3%3& ^EF9& G(+J'+(03 1$+6,B&H&/%66,B&#&/%66,B&)*3&EO&/%66,9&#$% .+0*&04&G`;!?^&%R12%,,+0*&5+.$&1,02+),+,
,.+('6).+0*& 04& /%66,& %R12%,,+*:& #`^Z 6+:)*3;D+*3+*:& /$)+*& 04& .$%& 2%/%1.02& +, 10+*.&.05)23&)&,+:*+I/)*.&206%&402&.$%,%
%6+/+.,& 60/)6& 2%6%),%& 04& 6)2:%& )(0'*.,& 04 $0(060:0',&.0&.$%&2%/%1.02,&402&G=E; N /-.0M+*%,& +*& .$%& %1+3%2()6& /$)*:%,& ),;
.-1%&G&G=E,&420(&16),()/-.0+3&3%*32+.+/ &)*3&G=E; B&)*3&,+:*)6+*:&%8%*.,&(%3+; ,0/+).%3&5+.$&/'.)*%0',&+*L)(().+0*9
D<"
+.& 0*%& 04& .$%& (0,.& ID20:%*+/& 04& )66& /-.0; 2%,10*,%,9""& A0*8%2,%6-B& ):%*.,& .$).& ,1%;
:<96-7;<056C(C<;i:E(
M+*%,& ,.'3+%39"V& #]=; \.2%).%3& ID20D6),., /+I/)66-&D60/M&/-.0M+*%&)/.+8+.-&)2%&)6,0&D%;
79A:;<@ (79058=(96!(
3+,16)-& %*$)*/%3& 1203'/.+0*& 04& /066):%* +*:&3%8%601%39&F*.+D03+%,&)*3&#E=&2%/%1;
5:-(<>A>):;<-
)*3& 0.$%2& %R.2)/%66'6)2& ().2+R& (06%/'6%,9 .02\=/& 4',+0*& 120.%+*,& )2%& =CF;)11208%3
#]=; >& 5),& I2,.& +,06).%3& ),& )& ,%/2%.%3 G*&)33+.+0*B&#]=; &+*$+D+.,&.$%&1203'/.+0* )*.):0*+,.,& 04& #E=; & )/.+8+.-& .$).& )2%
1203'/.&04&8+2)66-&.2)*,402(%3&.'(02&/%66, 04& (%.)660120.%+*),%,& D-& ID20D6),.,& )*3 $+:$6-&%44%/.+8%&).&+*3'/+*:&3'2)D6%&2%(+,;
/)1)D6%&04&+*3'/+*:&*02()6&/%66,&+*&8+.20&.0 ,.+('6).%,& .$%& 1203'/.+0*& 04& +*$+D+.02,& 04 ,+0*,&+*&1,02+),+,&<,%%&A$)1,9&>cB&!VUB&)*3
,$05& 1$%*0.-1+/& /$)2)/.%2+,.+/,& ),,0/+; .$%&,)(%&(%.)660120.%+*),%,&<.+,,'%&+*$+D+; !VW@9& F*.+D03+%,& ):)+*,.& .$%& 1"?& ,'D'*+.
).%3& 5+.$& .2)*,402().+0*9& X8%2& V?& )33+; .02,&04&(%.)660120.%+*),%B&02&#GQP,@9&#]=; ,$)2%3&D-&G`;>!&)*3&G`;!V&)2%&)6,0&)/.+8%&+*
.+0*)6&(%(D%2,&04&.$%&#]=; &4)(+6-&$)8% &%44%/.,&0*&ID20D6),.,&()-&D%&+(102.)*. .2%).+*:& 1,02+),+,9& F*)M+*2)& +,& )& 402('6);
*05&D%%*&+3%*.+I%39&#$%-&/)*&D%&:20'1%3 +*&120(0.+*:&50'*3&$%)6+*:9 .+0*& 04& 2%/0(D+*)*.& G`;>^)& )11208%3& D-
+*.0&,%8%2)6&4)(+6+%,7&.$%&120.0.-1+/&#]=; .$%&=CF&),&)3f'*/.&.$%2)1-&02&,%/0*3;6+*%
,&<#]=; >&.0&#]=; V@B&.$%&D0*%&(021$0; (0*0.$%2)1-& 402& .$%& .2%).(%*.& 04& )3'6.
:%*%.+/& 120.%+*,B& .$%& :205.$N3+44%2%*.+); AE>0;L56>-Y(->A;6!9<=( 2$%'().0+3&)2.$2+.+,&)*3&$),&D%%*&,$05*
.+0*& 4)/.02,B& )*3& .$%& )/.+8+*,9& #$%& #]= A=:;L56>-(A>6:<98(:;( .0&D%&8%2-&%44%/.+8%&+*&1).+%*.,&5+.$&*%0*);
*)(%&402&.$+,&4)(+6-&04&(06%/'6%,&+,&,0(%; 8>DL;A=:>(0;?585r9:5;6 .)6;0*,%.&('6.+,-,.%(+/&+*L)(().02-&3+,;
5$).& 04& )& (+,*0(%2B& D%/)',%& #]=; & $), A$%(0M+*%,& )2%& )& 6)2:%& ,'1%24)(+6-& 04 %),%&<,%%&A$)19&>V"@9&X.$%2&/-.0M+*%,&.$).
)*.+1206+4%2).+8%& 2).$%2& .$)*& 1206+4%2).+8% ,()66& /-.0M+*%,& .$).& $)8%& .50& ()f02 $)8%&12%30(+*)*.6-&)*.+;+*L)(().02-&%4;
%44%/.,& 0*& (0,.& /%66& .-1%,9& Q)*-& 04& .$% 4'*/.+0*,9&=+2,.B&.$%-&:'+3%&6%'M0/-.%,&8+) 4%/.,B&,'/$&),&G`;>?&)*3&G`;>>B&,$05&,0(%
#]=; &4)(+6-&(%(D%2,&16)-&)*&+(102.)*. /$%(0.)/.+/& :2)3+%*.,& +*& .+,,'%9& #-1+; +*$+D+.02-&)/.+8+.-&+*&1,02+),+,B&D'.&)2%&*0.
206%& +*& 3%8%601(%*.B& +*L'%*/+*:& .$%& 3+4; /)66-B& .$+,& +,& .0& D2+*:& )*& %44%/.02& /%66& .0 /'22%*.6-&D%+*:& 3%8%601%3&4'2.$%2&402&.$+,
4%2%*.+).+0*&04&'*/0((+..%3&/%66,&+*.0&,1%; 5$%2%&+.,&)/.+8+.+%,&)2%&2%J'+2%39&S%/0*3B +*3+/).+0*9& F& /6),,& 04& 1$)2()/060:+/
/+I/& 6+*%):%,9& #]=; &4)(+6-&(%(D%2,&)2% )&,'D,%.&04&/$%(0M+*%,&$),&.$%&/)1)/+.- ):%*.,&.$).&+*$+D+.,&.$%&1203'/.+0*&04&('6;
()3%& ),& 12%/'2,02& 120.%+*,& .$).& )2%& D+0; .0&+*/2%),%&.$%&D+*3+*:&04&6%'M0/-.%,&8+) .+16%& #& /%66\3%2+8%3& /-.0M+*%,& +,& .$%& /)6;
60:+/)66-&+*)/.+8%&'*.+6&)&6)2:%&120;30()+* .$%+2&+*.%:2+*,&.0&6+:)*3,&).&.$%&%*30.$%; /+*%'2+*& +*$+D+.02,9& #)/206+(',& )*3& 1+(%;
+,& /6%)8%39& Q0*0(%2,& 04& .$%& ().'2%& 30; 6+)6&/%66&,'24)/%B&5$+/$&4)/+6+.).%,&I2(&)3; /206+(',& D0.$& D+*3& .0& .$%& +(('*01$+6+*
()+*&04&#]=; &4)(+6-&(%(D%2,&)2%&3+,'6; $%,+0*&)*3&%R.2)8),).+0*&04&6%'M0/-.%,&+* =O;U?W&D+*3+*:&120.%+*;>!&<=OHP;>!@B&120;
I3%&6+*M%3&.0&402(&3+(%2,&.$).&,.20*:6-&2%; .+,,'%9& #$%& )/.+8+.+%,& 04& .$+,& +(102.)*. 3'/+*:&/0(16%R%,&.$).&D+*3&.0&/)6/+*%'2+*B
,+,.&3%*).'2).+0*9 /6),,& 04& /-.0M+*%,& )2%& ,'4I/+%*.6-& /0(; )& /)6/+'(;3%1%*3%*.& 1$0,1$).),%& .$).
P)2.+/+1).+0*&04&).&6%),.&.50&/%66&,'24)/% 16%R& .$).&.$%-& )2%& .$%&,'Df%/.& 04& )& ,%1); )/.,&0*&120.%+*,&+*&.$%&*'/6%)2&4)/.02&04
2%/%1.02,&<.-1%&G&)*3&.-1%&GG@&5+.$&,%2+*%N 2).%&/$)1.%2&<A$)19&>!@9 )/.+8).%3& #& /%66,m& 4)(+6-& .0& 120(0.%& .$%+2
.$2%0*+*%& M+*),%& )/.+8+.-& +,& 2%J'+2%3& 402 *'/6%)2&.2)*,60/).+0*&)*3&)/.+8).+0*&04&/-;
D+060:+/&%44%/.,& 04&#]=; 9"!&`+:)*3&D+*3; .0M+*%&:%*%,&<+*/6'3+*:&G`;!B&G`;"B&)*3&G=E;
+*:& D-& .$%& .-1%& GG& 2%/%1.02& <.$%& .2'%& 6+; A=:;L56>(6>:i;<Lk
@"U&<,%%&A$)19&!!>@9&=+*)66-B&4',+0*&.0R+*,
:)*3;D+*3+*:&2%/%1.02@&+,&),,0/+).%3&5+.$ :E><9)>D:5A(50)85A9:5;6-(
6+*M%3&.0&/-.0M+*%,B&,'/$&),&.$%&G`;!&4',+0*
.$%&402().+0*&04&/0(16%R%,&04&.-1%&G&)*3 96!(9))85A9:5;6-
120.%+*&3%*+6%'M+*&3+4.+.0RB&%R160+.&.$%&/%6;
.-1%&GG&2%/%1.02,9&#$+,&)6605,&.$%&.-1%&GG #$+,&/$)1.%2&$),&)..%(1.%3&.0&D2+*:&,0(% 6'6)2& ,1%/+I/+.-& 04& /%2.)+*& /-.0M+*%;2%/%1;
2%/%1.02& .0& 1$0,1$02-6).%& )*3& )/.+8).% 3%:2%%& 04& 023%2& )*3& 60:+/&.0&.$%& )*)6-,+, .02& +*.%2)/.+0*,& .0& M+66& .)2:%.& /%66,& <,%%
.$%& .-1%& G& 2%/%1.02B& )& q.2)*,3'/%2r& (06%; 04&)&I%63&04&$'()*&D+060:-&.$).&/0*.+*'%, A$)19&!VU@9&C%*+6%'M+*&3+4.+.0R&+,&=CF&)1;
/'6%& .$).& +,& 2%,10*,+D6%& 402& 305*,.2%)( .0& :205& ).& )& 2)1+3& 2).%9& F6.$0':$& ()*- 1208%3& 402& .$%&.2%).(%*.& 04& /'.)*%0',& #;
,+:*)6& .2)*,3'/.+0*9& C05*,.2%)(& ,+:*)6 .$+*:,&()-&/$)*:%&+*&.$%&50263&04&/-.0; /%66&6-(1$0()&)*3&$),&)6,0&,$05*&.$%2);
.2)*,(+,,+0*& 420(& .$%& (%(D2)*%;D0'*3 M+*%,B& /%2.)+*& M%-& /0*/%1.,& $)8%& ,.003 1%'.+/& )/.+8+.-& +*& 1,02+),+,9"W& e)/$& 04& .$%
2%/%1.02,&+*&.$%&#]=; &2%/%1.02&4)(+6-&.0 .$%&.%,.&04&.+(%9&P2+*/+1)6&)(0*:&.$%(&+, )402%(%*.+0*%3& )1120)/$%,& +,& ,.+66& 2%6);
.$%& *'/6%',& +,& 12+()2+6-& (%3+).%3& D-& ) .$%& +3%)& .$).& /-.0M+*%,& )2%& %(%2:%*/- .+8%6-&*%5&)*3&01%*&.0&/0*,+3%2)D6%&4'.'2%
4)(+6-&04&/-.016),(+/&S()3&120.%+*,&.$). (06%/'6%,B&3%,+:*%3&.0&D%&2%6%),%3&60/)66- 3%8%601(%*.9& F*& '*3%2,.)*3+*:& 04& /-.0;
.2)*,60/).%& .0& .$%& *'/6%',& )*3& 2%:'6).% )*3& .2)*,+%*.6-& +*& .+,,'%& (+/20%*8+20*; M+*%,&D-&/6+*+/+)*,&04&.$%&4'.'2%&+,&6+M%6-&.0
.2)*,/2+1.+0*&04&.)2:%.&:%*%,9 (%*.,9&b$%*&/-.0M+*%,&)2%&2%6%),%3&1%2; D%&/%*.2)6&.0&%44%/.+8%&1).+%*.&/)2%9
#]=; &$),&)&12040'*3&+*L'%*/%&0*&,%8; ,+,.%*.6-B& .$%& 2%,'6.& +,& .-1+/)66-& /$20*+/
%2)6& .-1%,& 04& +(('*%& )*3& +*L)(().02- 3+,%),%9&X*%&10.%*.+)6&5)-&.0&.2%).&,'/$
120/%,,%,9& F*& +(('*02%:'6).02-& 206%& 402 3+,%),%,& +,& 5+.$& /-.0M+*%& )*.):0*+,.,& 02 L>=(<>7><>6A>-
#]=; >& 5),& +3%*.+I%3& +*& 1)2.& .$20':$ 0.$%2&32':,&.$).&.)2:%.&/-.0M+*%,&02&/-.0;
)*)6-,+,&04&#]=; >&M*0/M0'.&(+/%&.$).&3%; M+*%;(%3+).%3&1).$5)-,9
:M'(N1II(%'N'%'*2'(I"#+(N$%(/II(2M/O+'%#(
8%601&)&5),.+*:&3+,%),%&).&!?&3)-,&04&):% A-.0M+*%,&)*3&/-.0M+*%&)*.):0*+,.,&)2% "#(/R/"I/4I'(/+([[[H&",3cH2$3H
),,0/+).%3&5+.$&)&(+R%3&+*L)(().02-&/%66 D%+*:& ',%3& .$%2)1%'.+/)66-& D-& /6+*+/+)*,B >9 X11%*$%+(&ll7&A-.0M+*%,7&P),.B&12%,%*.B
+*I6.2).%& +*8068+*:& ()*-& +*.%2*)6& 02:)*,9 )*3&3%8%601(%*.&04&)33+.+0*)6&):%*.,&/0*; )*3&4'.'2%9&J"$&P&]%'#$-3 >97VB&!??>
#$+,&1$%*0.-1%&+,&*05&)112%/+).%3&.0&D%&) .+*'%,9& b+.$& /%2.)+*& *0.)D6%& %R/%1.+0*,B V9 `':%2&#F&%.&)67&e1+3%2()6&/%66&<M%2).+*0;
2%,'6.&+*&1)2.&04&.$%&/0(120(+,%3&3%8%601; ,-,.%(+/&/-.0M+*%&.$%2)1-&$),&D%%*&3+,)1; /-.%@;3%2+8%3&.$-(0/-.%;)/.+8).+*:& 4)/;
.02&<e#F=@9&P&J''("-3 :;>7>"dVB&>dc>
(%*.&04&2%:'6).02-&#&/%66,&5$%*&#]=; >&+, 10+*.+*:&)*3&+,&04.%*&)//0(1)*+%3&D-&,'D;
"9 O'11%2&#S7&#$%&)/.+8).%3&M%2).+*0/-.%7&F
*0.&)8)+6)D6%9&C%8%601(%*.&04&/%66,&+*&.$% ,.)*.+)6& (02D+3+.-9& G*& /0*.2),.B& 60/)6& )*3 (03%6&402&+*3'/+D6%&/-.0M+*%&1203'/.+0*
3%*32+.+/& /%66& 6+*%):%& +,& )6,0& 1%2.'2D%3& +* .2)*,+%*.&)3(+*+,.2).+0*&04&/-.0M+*%,&()- D-& *0*\D0*%& ()2205\3%2+8%3& /%66,& +*
.$%& #]=; >\3%I/+%*.& (+/%B& ),& %8+3%*/%3 -+%63&(02%&120(+,+*:&2%,'6.,9&F*&%R)(16% /'.)*%0',& +*L)(().02-& )*3& +(('*%
D-& )*& )D,%*/%& 04& %1+3%2()6& `)*:%2$)*, 04& .$+,& )1120)/$& +,& .$%& .2)*,3'/.+0*& 04 2%,10*,%,9 P&J";%+$&=%.'#$-3 A97>"WSB&>dd?
U9 O'11%2& #S7& G(('*%& )*3& +*L)(().02-
/%66,&)*3&,1%/+I/&,'D;101'6).+0*,&04&6-(1$ .'(02& /%66,& .0& %R12%,,& 4)/.02,& ,'/$& ), 120/%,,%,& +*& /'.)*%0',& .+,,'%,9& Q%/$);
*03%&3%*32+.+/&/%66,9&F&/0(D+*).+0*&04&%4; ]Q;AS=&<]kFo&8)//+*%,@&02&G`;>!&4)(+6- *+,(,& )*3& ,1%/'6).+0*,9& P& 53!"& J";%+$
D<= 4%/.,&04&#]=; &0*&ID20D6),.&4'*/.+0*&()M% (%(D%2,& .0& %*$)*/%& )*.+.'(02& +(('*% ?=7>ZcVB&>dd?
!"#$%&'()* !"#$ .*0;8#5'/9$ )(6$ +#64(6)(.9$ '(
/"#$ (*0#(.8)/4+#$ *7$ ."#0*&'(#%$ ")># !"&53678&+
8#6$/*$/"#$;+*;*%)8$7*+$)$%9%/#0)/'.$(*1
Y(i(Y(E=HHAZ(!;#(i(EJC,0=>JA(HO-F<>EOC=e,AA>E@,C=B(,0C@1=0Z(!%#!6(i(EJC,0=>JA(%(E=HHe,CCD,EC@01(E<=->?@0=Z(9!A(i(B=0BD@C@E(E=HHAZ(&0(i(=0B>C<=H@,H(E=HHAZ("7dM)(i(
<J-,0(@--J0>B=KE@=0EO(G@DJA()Z(7;(i(@0C=DH=J?@0Z(5!$(i(-,ED>F<,1=(E<=->,CCD,EC,0C(FD>C=@0Z(57$(i(-,ED>F<,1=(@0R,--,C>DO(FD>C=@0Z(5>(i(->0>EOC=AZ(86(i(
0,CJD,H(?@HH=D(E=HHAZ('#8%&+(i(D=1JH,C=B(>0(,EC@G,C@>0(0>D-,H(%ME=HH(=]FD=AA=B(,0B(A=ED=C=BZ(%(i(%(E=HHAZ(%#'!(i(C<O-JA(,0B(,EC@G,C@>0MD=1JH,C=B(E<=->?@0=Z(%<(i(%(
<=HF=D.
K)8%*$ &(*-($ )%$ 3$4-105&3, &/, 6, 73&5$(), *(4! a $ %4:4('/%$ ")>#$ :##($ %"*-($ /*$ :# -"#+#)%$ ;"*%;")/'698'(*%'/*81O1&'()%#
)01()4, 73&5$()*L<$ !"#$ a $ 6'0#+$ '('/')/#% .+'/'.)8$ 7*+$ ."#0*/)5'%2$ /"#$ a '$ %4:4('/ 0)9$:#$.+'/'.)8$ 7*+$.")(,#%$ '($ /"#$)>'61
.+'/'.)8$%',()8'(,$#>#(/%$'($+#,)+6$/*$."#1 ")%$(*$&(*-($+*8#$'($."#0*/)./'.$0',+)1 '/9$%/)/#$*7$890;"*.9/#$74(./'*(Y)%%*.'1
0*/)5'%$ )(6$ .#88$ )6"#%'*(<$ I/$ )./'>)/#% /'*(<$!"#+#$'%$)8%*$#>'6#(.#$/")/$:'(6'(, )/#6$ )(/',#($ A<$ P/"#+$ ;+*/#'(%$ ")>#
;"*%;"*8';)%#$ =2c$ 8#)6'(,$ /*$ 7*+0)/'*( *7$."#0*&'(#$+#.#;/*+%$+#%48/%$'($/"#$).1 :##($ 7*4(6$ /")/$ +#,48)/#$ /"#$ %9(/"#%'%2
*7$ 6').98,89.#+*8$ )(6$ '(*%'/*8$ /+';"*%1 /'>)/'*($*7$*/"#+$'(/+).#8848)+$#77#./*+%$'(1 #5;+#%%'*(2$ *+$ 6#,+)6)/'*($ *7$ ab=R%<
;")/#$ QI(%KA2c2DLbOX<$ I(%KA2c2DLbO$ %/'041 .846'(,$R)%$)(6$R"*2$;"*%;")/'698'(*%'1 [*+$ #5)0;8#2$ +#.#;/*+1)./'>'/910*6'791
8)/#%$ =)\d$ #(/+9$ '(/*$ /"#$ .9/*%*82$ -"'." /*81O1&'()%#<D '(,$ ;+*/#'(%$ )./$ )%$ .");#+*(#%$ *7$%#>#(
)8*(,$ -'/"$ 6').98,89.#+*82$ )./'>)/#%$ ;+*1 R"*S$)(6$;+*/#'($&'()%#$=$);;#)+$/* /+)(%0#0:+)(#$ %;)(('(,$ +#.#;/*+%$ )(6
!"- /#'($ &'()%#$ =$ '%*7*+0%<$ S8/"*4,"$ /"# ;8)9$ )$ +*8#$ '($ '(/#,+'($ )7?('/9$ .")(,#%2 +#,48)/#$ %4+7).#$ #5;+#%%'*($ )%$ -#88$ )%
/012345!"6! !<=->?@0=(D=E=FC>De-=B@,C=B(A@10,H@01(F,C</,OA.(!6(i(E<=->?@0=Z(&'(i(=0B>FH,A-@E(D=C@EJHJ-Z(:9$(i(1J,0>A@0=(B@F<>AF<,C=Z(:'6(i(:
FD>C=@0(E>JFH=B(D=E=FC>D(?@0,A=Z(:%$(i(1J,0>A@0=(CD@F<>AF<,C=Z(5,$6(i(-@C>1=0M,EC@G,C=B(FD>C=@0(?@0,A=Z($6!(i(FD>C=@0(?@0,A=(!Z($;!(i(F<>AF<>H@F,A=(!Z
$%6(i(FD>C=@0(COD>A@0=(?@0,A=TAUZ($%g(i(F=DCJAA@A(C>]@0Z('#5$(i(D=E=FC>De,EC@G@COM->B@IO@01(FD>C=@0Z(':+(i(D=1JH,C>D(>I(:(FD>C=@0(A@10,H@01(FD>C=@0.
/"#$ 8',)(6$ %;#.'?.'/9$ *7$ ."#0*&'(#$ +#1 0#()8$ %'6#<$ !"'+62$ ."#0*&'(#%$ )//+)./ /"#8')8$ .#88%$ )/$ 8*.)8$ %'/#%$ *7$ '(3)00)1
.#;/*+%$K%##$[',<$A\1AL<$I0;*+/)(/892$)7/#+ 8#4&*.9/#%$ /*$ %'/#%$ *7$ '(3)00)/'*($ '( /'*(<$ S..*+6'(,$ /*$ /"#$ 048/'%/#;$ *+$ .)%1
."#0*&'(#$+#.#;/*+%$)+#$#5;*%#6$/*$);1 /"#$ 6#+0'%$ *+$ #;'6#+0'%$ )7/#+$ /+)(%0'1 .)6#$ 0*6#8$ *7$ 8#4&*.9/#$ +#.+4'/0#(/
;+*;+')/#$8',)(6%2$/"#9$)+#$7+#`4#(/89$'(1 ,+)/'*(<$ f#+)/'(*.9/#%$ )(6$ #(6*/"#8')8 K[',<$A\1\L2$*(#$%#/$*7$"*0*8*,*4%$)6"#1
/#+()8'H#62$8#)6'(,$/*$)($'():'8'/9$*7$/"# .#88%$ )+#$ )$ +'."$ %*4+.#$ *7$ ."#0*&'(#% %'*($0*8#.48#%$/#+0#6$*$1$"5()*$0#6')/#%
."#0*&'(#$ +#.#;/*+$ /*$ 0#6')/#$ 74+/"#+ -"#($ %/'048)/#6$ :9$ );;+*;+')/#$ .9/*1 /"#$ /+)(%'#(/$ )//)."0#(/$ *7$ 8#4&*.9/#%
%',()8'(,<$ !"'%$ 6*-(+#,48)/'*($ *7$ ."#1 &'(#%<$I($)66'/'*(2$."#0*&'(#%$)(6$/"#'+ /*$#(6*/"#8')8$.#88%$-"'8#$)(*/"#+$%#/$*7
0*&'(#$ 74(./'*(2$ -"'."$ ")%$ :##( +#.#;/*+%$)+#$&(*-($/*$;8)9$.+'/'.)8$+*8#% )6"#%'*($0*8#.48#%$/#+0#6$()5$43()*$)(6
/#+0#6$8$*$)*(5(905(&)2$*..4+%$:#.)4%#$*7 '($ /"#$ #0',+)/'*($ *7$ +#%'6#(/$ %&'($ 6#(1 /"#'+$ +#.#;/*+%$ K'004(*,8*:48'($ %4;#+1
;"*%;"*+98)/'*($ *7$ @#+V!"+$ +#%'64#%$ '( 6+'/'.$ .#88%$ KZ=%L$ Q'<#<2$ W)(,#+")(%$ .#88% 7)0'89$ 0#0:#+%L$ 0#6')/#%$ %/+*(,#+
/"#$ =1/#+0'()8$ /)'8$ :9$ ;+*/#'(%$ /#+0#6 KW=%L$)(6$6#+0)8$Z=%X$7+*0$/"#$%&'($/* :'(6'(,$K'<#<2$)++#%/L$)(6$/+)(%0',+)/'*(<C
6:+;, '()0*$*$ )(6$ %4:%#`4#(/$ '(/#+()81 6+)'('(,$890;"$(*6#%$KWT%L$>')$)77#+#(/ !"#$ %#8#./'(%$ KU12$ W12$ )(6$ b1%#8#./'(L$ )+#
'H)/'*($ *7$ /"#$ +#.#;/*+$ K%##$ [',<$ A\1AL< 890;")/'.$ >#%%#8%2$ )$ ;+*.#%%$ /")/$ '%$ #%1 0#0:#+%$ *7$ )$ 8)+,#+$ 7)0'89$ *7$ .)+:*"91
Z#%#(%'/'H)/'*($ 0)9$ :#$ )($ '0;*+/)(/ %#(/')8$ 7*+$ /"#$ 6#>#8*;0#(/$ *7$ ).`4'+#6 6+)/#1:'(6'(,$ ;+*/#'(%$ /#+0#6$ 1$"5()*<
0#.")('%0$ 7*+$ +#,48)/'(,$ /"#$ 74(./'*( '004(#$+#%;*(%#%$K%##$=");<$AEL<$ !"#$ %#8#./'(%$ :'(6$ /"#'+$ +#%;#./'>#$ .)+1
*7$ ."#0*&'(#$ +#.#;/*+%$ :9$ '("':'/'(, !"'%$%#./'*($'%$6'>'6#6$'(/*$/"+##$%4:1 :*"96+)/#$ 8',)(6%$ 8*.)/#6$ *($ ;+*/#'(
.#88$0',+)/'*($)%$8#4&*.9/#%$)++'>#$)/$/"# %#./'*(%<$!"#$?+%/$'(/+*64.#%$:)%'.$.*(1 %.)77*86%$)(6$/"4%$0#6')/#$/"#$/+)(%'#(/
;+'0)+9$%'/#$*7$'(3)00)/'*(< .#;/%$ *7$ "*-$ )88$ 8#4&*.9/#%$ )++#%/$ '( :'(6'(,$*+$g+*88'(,h$*7$8#4&*.9/#%$*($#(1
'(78)0#6$ :8**6$ >#%%#8%$ :#7*+#$ /+)(%0'1 6*/"#8')8$.#88%<
,+)/'*($ :9$ '(/+*64.'(,$ /"#$ 048/'%/#; !"#$ %&'(1)%%*.')/#6$ >)%.48)+$ %#8#./'(
!"&53678&+(#89(!2%#8&32+( 0*6#8$ *7$ 8#4&*.9/#$ +#.+4'/0#(/<$ !"# &(*-($)%$<!*$1$"5()$'%$4;+#,48)/#6$*($#(1
;&263!j%&(%'#447!678: %#.*(6$6#/)'8%$0#.")('%0%$*7$!1.#88$0'1 6*/"#8')8$ .#88%$ :9$ '(3)00)/*+9$ .9/*1
a#(#+)889$ %;#)&'(,2$ ."#0*&'(#%$ )+# ,+)/'*(2$)(6$/"#$?()8$%4:%#./'*($7*.4%#% &'(#%$ %4."$ )%$ /40*+$ (#.+*%'%$ 7)./*+
/"*4,"/$ /*$ ;8)9$ )/$ 8#)%/$ /"+##$ 6'77#+#(/ *($ /"#$ 0#.")('%0%$ :9$ -"'."$ ."#0*1 K!T[L1 $ )(6$ :'(6%$ /*$ %')898$ W#-'%$ JY
+*8#%$ '($ /"#$ +#.+4'/0#(/$ *7$"*%/$ 6#7#(%# &'(#%$0#6')/#$/"#$;"9%'*8*,'.$0',+)/'*( :)%#6$ .)+:*"96+)/#%<$ U1%#8#./'($ 8',)(6%
.#88%2$;+#6*0'()(/89$8#4&*.9/#%2$/*$%'/#% *7$Z=%$7+*0$/"#$%&'($/*$+#,'*()8$WT%< 7*+0$ 6'%/'(./$ #;'/*;#%$ &(*-($ )%$ /"#
*7$'(3)00)/'*(<e$['+%/2$/"#9$;+*>'6#$/"# "-50)$&-*, 12%7#&"25$=0**&"(05$8, 0)5(4$)
%',()8$*+$%',()8%$+#`4'+#6$/*$.)4%#$8#4&*1 5JHC@AC=F(5>B=H(>I( K=WSL<$ =WS$ '%$ #5;+#%%#6$ :9$ AE$ ;#+.#(/
.9/#%$/*$.*0#$/*$)$.*0;8#/#$%/*;$K'<#<2$)+1 ;=J?>EOC=('=EDJ@C-=0C /*$cE$;#+.#(/$*7$0#0*+9$!$.#88%$)(6$")%
+#%/L$ '($ :8**6$ >#%%#8%$ )/$ '(3)0#6$ %'/#% :##($ %4,,#%/#6$ )%$ )$ 0)+&#+$ 7*+$ %&'(1
%4."$ )%$ %&'(<$ @#.*(62$ ."#0*&'(#%$ ")># [*+$8#4&*.9/#%$/*$)6"#+#$)(6$0',+)/#$/* "*0'(,$ !$ .#88%<G$ S/$ 8#)%/$ /-*$ ."#0*1
:##($%"*-($/*$")>#$)$+*8#$'($/"#$/+)(%1 ;#+';"#+)8$ /'%%4#%2$ /"#9$ 04%/$ *>#+.*0# &'(#$+#.#;/*+%$Q==$ ."#0*&'(#$ +#.#;/*+
0',+)/'*($ *7$ 8#4&*.9/#%$ 7+*0$ /"#$ 840#1 /"#$ ;4%"'(,$ 7*+.#$ *7$ /"#$ >)%.48)+$ :8**6 AE$K==RAEL$)(6$==RcX$%"*-$;+#7#+#(1
()8$%'6#$*7$/"#$:8**6$>#%%#8$/*$/"#$):841 %/+#)0$ )%$ /"#9$ :'(6$ /*$ )./'>)/#6$ #(6*1 /')8$ #5;+#%%'*($ '($ =WSd$ 0#0*+9$ ! !".
:##($ ;+*;*%#6$ /*$ +#;+#%#(/$ )($ #77#./*+
0#0*+9$ !1.#88$ %4:%#/$ /")/$ '%$ +#)69$ 7*+
+);'6$ 6#;8*90#(/$ )/$ ;#+';"#+)8$ %'/#%$ '(
/#+0%$ *7$ /"#'+$ .9/*/*5'.$ )./'>'/9$ )(6
):'8'/9$/*$0*:'8'H#$.9/*&'(#%<AD
S8/"*4,"$ ."#0*&'(#%$ )+#$ :*/"$ %#1
.+#/#6$ )(6$ %*84:8#2$ /"#$ (#/$ ;*%'/'>#
.")+,#$ *($ 0*%/$ ."#0*&'(#%$ )88*-%
/"#0$/*$:'(6$/*$(#,)/'>#89$.")+,#6$;+*1
/#*,89.)(%$ %4."$ )%$ "#;)+'($ %487)/#$ /")/
)+#$ ;+#%#(/$ *($ /"#$ 840#()8$ %4+7).#$ *7
#(6*/"#8')8$.#88%2$/"4%$)88*-'(,$/"#0$/*
:#$;+#%#(/#6$/*$!$.#88%$)%$/"#9$+*88$)8*(,
/"#$840#()8$%4+7).#$K%##$[',<$A\1\L<$S7/#+
8',)(6$ :'(6'(,2$ ."#0*&'(#$ +#.#;/*+%
%#(6$'(/+).#8848)+$%',()8%$/")/$8#)6$/*$'(1
.+#)%#%$ '($ /"#$ )7?('/9$ )(6$ )>'6'/9$ *7$ !1
.#88$ '(/#,+'(%$ %4."$ )%$ 890;"*.9/#$ 74(.1
/'*(Y)%%*.')/#6$ )(/',#($ A$ )(6$ >#+9$ 8)/#
)(/',#($c$7*+$/"#'+$#(6*/"#8')8$+#.#;/*+%
'(/#+.#8848)+$ )6"#%'*($ 0*8#.48#$ A$ )(6
>)%.48)+$ .#88$ )6"#%'*($ 0*8#.48#1A2$ +#1
/012345!"6" 5JHC@AC=F(->B=H(>I(H=J?>EOC=(D=EDJ@C-=0C.(;=J?>EOC=AS( FJA<=B(QO( C<=(QH>>B(ACD=,-S %;#./'>#89<Ae$ P(89$ )$ 7#-$ ."#0*&'(#$ +#1
I@DAC(CD,0A@=0CHO(Q@0B(>D(_D>HH`(>0(C<=(AJDI,E=(>I(,EC@G,C=B(=0B>C<=H@,H(E=HHA(G@,(D,F@B(@0C=D,EC@>0A(/@C<($MS(&MS(>D .#;/*+%$ K=J=Rc2$ ==RC2$ ==Rc2$ )(6
;MA=H=EC@0.(!<=->?@0=A(,D=(A=ED=C=B(QO(=0B>C<=H@,H(E=HHA(,0B(Q@0B(C>(FD>C=>1HOE,0A(C<,C(FD=A=0C(C<=(E<=M ==ReL$)+#$#5;+#%%#6$)/$%47?.'#(/$8#>#8%
->?@0=(->H=EJH=A(C>(E<=->?@0=(D=E=FC>DA(>0(C<=(AJDI,E=(>I(C<=(H=J?>EOC=.(#IC=D(E<=->?@0=(D=E=FC>D(H@M *($ +#%/'(,$ ;#+';"#+)8$ :8**6$ !$ .#88%$ /*
1,C@>0S(@0CD,E=HHJH,D(A@10,H@01(=G=0CA(H=,B(C>(,(E<,01=(@0(C<=(E>0I>D-,C@>0(>I(@0C=1D@0A(,0B(E<,01=A(@0 0#6')/#$ /"'%$ /+)(%'/'*(<$ i'/"$ )./'>)/'*(
)(6$ '(/#+8#4&'($ KIWL1\$ %/'048)/'*(2$ '(1
C<=@D(B@ACD@QJC@>0(>0(C<=(FH,A-,(-=-QD,0=S(D=AJHC@01(@0(@0C=1D@0(,EC@G,C@>0.(%<=A=(E<,01=A(D=AJHC(@0(<@1<
.+#)%#6$ (40:#+%$ *7$ ."#0*&'(#$ +#.#;1
,IK0@COh,G@B@CO(Q@0B@01(>I(@0C=1D@0A(C>(=0B>C<=H@,H(E=HH(@0C=DE=HHJH,D(,B<=A@>0(->H=EJH=A(T7!#5AU(,0B(G,AEJM
/*+%$K#<,<2$=J=ROL$)+#$#5;+#%%#6$*($)./'1
H,D(E=HH(,B<=A@>0(->H=EJH=(Td!#5UM)(@0(,(AC=F(C=D-=B(!"#$%&'()*+,S(/<@E<(@A(C<=0(I>HH>/=B(QO(CD,0A-@M >)/#6$!$.#88%2$0)&'(,$/"#0$0*+#$8'Y
1D,C@>0(>I(C<=(H=J?>EOC=(Q=C/==0(=0B>C<=H@,H(E=HHA(,0B(@0C>(C@AAJ=.(!;#(i(EJC,0=>JA(HO-F<>EOC=e,AA>E@M /*$+#%;*(6$/*$*/"#+$."#0*&'(#%<$I($%#>1
,C=B(,0C@1=0Z(71(i(@--J0>1H>QJH@0Z($+:;M)(i($MA=H=EC@0(1HOE>FD>C=@0(H@1,0B(). #+)8$6'77#+#(/$%9%/#0%2$'("':'/'*($*7$%;#1
.'?.$."#0*&'(#%$;+*64.#6$ :9$#(6*/"#1
.#88%<B2AE$ i"#+#)%$ U1%#8#./'($ '%$ 8'Y$ /* /"#'+$ )++#%/$ *($ )./'>)/#6$ #(6*/"#8') 8')8$ .#88%$ *+$ ."#0*&'(#$ +#.#;/*+%$ 7*4(6
:#$ )($ '0;*+/)(/$ .*0;*(#(/$ *7$ %&'(1 8'Y$ 6#;#(6%$ *($ /"#'+$ #5;+#%%'*($ *7 *($!$.#88%$6+)0)/'.)889$'(34#(.#%$!1.#88
%#8#./'>#$"*0'(,2$/"#+#$'%$)8%*$#>'6#(.# =J=RA$)(6$=J=R\$)%$6#%.+':#6$:#8*- )++#%/$'($>'>*$)(6$'($>'/+*<AC
/*$ %4,,#%/$ /")/$ W1%#8#./'($ '%$ '(>*8>#6$ '( 7*+$-*4(6$"#)8'(,$K%##$=");<$AeOL<$I(/#1 =J=RO$ %#+>#%$ )%$ )$ +#.#;/*+$ 7*+$ ."#1
!1.#88$0',+)/'*($/*$%&'(<AA2A\$ ,+'($)./'>)/'*($>')$."#0*&'(#10#6')/#6 0*&'(#$ 8',)(6%$ F',$ K0*(*&'(#$ '(64.#6
I($ /"#$ %#.*(6$ ;")%#$ *7$ /"'%$ 0*6#82 %',()8%$);;#)+%$/*$:#$0*+#$.*0;8#5$'($! :9$'(/#+7#+*(1 L2$'(/#+7#+*(1'(64.':8#$ ;+*1
8#4&*.9/#$'(/#,+'(%$%4."$)%$/"*%#$*7$/"# .#88%2$-"'."$);;#)+$/*$4%#$048/';8#$."#1 /#'($AE$ KIb1AEL2$ )(6$'(/#+7#+*(1'(64.':8#
\$ 7)0'89$ 04%/$ :#$ g/4+(#6$ *(h$ *+$ )./'1 0*&'(#$ +#.#;/*+%2$ )(6$ '%$ 6#%.+':#6$ '( !$ .#88$ $ ."#0*)//+)./)(/<$ S88$ /"+##$ *7
>)/#6$7+*0$/"#'+$+#%/'(,$%/)/#$/*$:'(6$/* 0*+#$6#/)'8$'($/"#$7*88*-'(,$%#./'*(< /"#%#$ ."#0*&'(#%$ )+#$ 6'%/'(,4'%"#6
/"#'+$ .*4(/#+1+#.#;/*+%$%4."$)%$ '(/#+.#81 7+*0$*/"#+$."#0*&'(#%$:9$:#'(,$"',"89
848)+$ )6"#%'*($ 0*8#.48#$ A$ /")/$ )+#$ #51 !<=->?@0=M5=B@,C=B( 4;+#,48)/#6$ :9$ '(/#+7#+*(1 <$ R#%/'(,$ !
;+#%%#6$ :9$ #(6*/"#8')8$ .#88%<$ S$ >)%/$ )+1 .#88%$6*$(*/$#5;+#%%$74(./'*()8$8#>#8%$*7
5@1D,C@>0(>I(%(!=HHA
+)9$ *7$ 6)/)$ %4,,#%/$ /")/$ /"#$ :'(6'(,$ *7 =J=RO2$ :4/$ 4;+#,48)/#$ /"'%$ +#.#;/*+
."#0*&'(#%$/*$8#4&*.9/#$."#0*&'(#$+#1 S(/',#(1'(#5;#+'#(.#6$!$.#88%$)+#$/#+0#6 -'/"$ )./'>)/'*($ )(6$ .9/*&'(#%$ %4."$ )%
.#;/*+%$;8)9%$)$.+'/'.)8$+*8#$'($)./'>)/'(, )0(>$$ )(6$ .)($ :#$ '6#(/'?#6$ :9$ #5;+#%1 IW1\<$P(.#$#5;+#%%#6$*($!$.#88%2$=J=RO
:*/"$ A$ )(6$ \$ '(/#,+'(%<D2AO$ S./'>)/'*( %'*($/"+##$.#88$%4+7).#$;+*/#'(%N$=ZcDRS '%$ .);):8#$ *7$ 0#6')/'(,$ )++#%/$ *7$ 0#01
*7$."#0*&'(#$+#.#;/*+%$8#)6%$/*$)$.*01 K)($'%*7*+0$*7$/"#$;)(18#4&*.9/#$0)+&#+L2 *+9$ !$ .#88%$ *($ )./'>)/#6$ #(6*/"#8')8
;8#5$ %',()8'(,$ .)%.)6#$ K%##$ [',<$ A\1AL W1%#8#./'(2$ )(6$ /"#$ ."#0*&'(#$ +#.#;/*+ .#88%<AG$!"#$#5;+#%%'*($*7$'/%$."#0*&'(#
/")/$ .)4%#%$ )$ .*(7*+0)/'*()8$ .")(,#$ '( ==RC<$!"#%#$!$.#88%$0',+)/#$#7?.'#(/89 8',)(6%$ '%$ %/+*(,89$ '(34#(.#6$ :9$ /"#
'(6'>'64)8$ '(/#,+'(%$ /")/$ 8#)6%$ /*$ '(1 /*$ %#.*(6)+9$ WT%2$ -"#+#$ /"#9$ 0)9 .9/*&'(#$ '(/#+7#+*(1 2$ -"'."$ %9(#+,'%/'1
.+#)%#%$'($/"#$)7?('/9$)(6$)>'6'/9$*7$'(1 0)&#$.*(/)./$-'/"$)(/',#(1:#)+'(,$Z=% .)889$-*+&%$-'/"$;+*'(3)00)/*+9$.9/*1
6'>'64)8$ 8#4&*.9/#$ '(/#,+'(%$ 7*+$ /"#'+$ 8'1 7+*0$ /"#$ ;#+';"#+9<$ P(.#$ )./'>)/#6$ :9 &'(#%$ %4."$ )%$ !T[1 $ /*$ '(.+#)%#$ #51
,)(6%<$ [4+/"#+0*+#2$ 8)/#+$ %/#;%$ *7 Z=%$;+#%#(/'(,$)(/',#(2$!$.#88%$/"#($#51 ;+#%%'*($ *7$ /"#%#$ 8',)(6%$ :9$ )./'>)/#6
0',+)/'*($K'<#<2$/+)(%0',+)/'*($*+$6');#1 ;+#%%$ =ZcDRP2$ )+#$ /#+0#6$ %$%&32$ ! #(6*/"#8')8$.#88%AG$)(6$#;'/"#8')8$.#88%<
6#%'%L$ ")>#$ :##($ %"*-($ /*$ :#$ 6#;#(1 .#88%2$)(6$);;#)+$/*$#5;+#%%$)$>)+'#/9$*7 I($,#(#+)82$)./'>)/'*($*7$!$.#88%$:9$.91
6#(/$*($."#0*&'(#%$)%$-#88$'($%#8#./'># )6"#%'*($ 0*8#.48#%$ )(6$ ."#0*&'(#$ +#1 /*&'(#%$ %4."$ )%$ IW1\$ '%$ )%%*.')/#6$ -'/"
.)%#%<Ac$I($/"#$.)%#$*7$(#4/+*;"'8%2$/"#'+ .#;/*+%$ -"'."$ 7).'8'/)/#$ /"#'+$ #5/+)>)1 /"#$ #(")(.#6$ #5;+#%%'*($ *7$ ==RA2
):'8'/9$/*$+*88$*($'(3)0#6$:8**6$>#%%#8% %)/'*($ 7+*0$ :8**6$ >#%%#8%$ /*$ '(3)0#6 ==R\2$ ==RD2$ )(6$ =J=RO<$ j4%/$ )%$ !
8'Y$6#;#(6%$*($/"#'+$#5;+#%%'*($*7$W1 ;#+';"#+)8$ /'%%4#<$ S$ %;#.'?.$ %4:%#/$ *7 "#8;#+$ A$ K!"AL$ )(6$ !"\$ K!$ .#88L$ %4:%#/%
%#8#./'($ )(6$ U1%#8#./'($ 8',)(6%$ -"#+#)% ==RCY2$ W1%#8#./'(Y$ 0#0*+9$ !$ .#88%2$ ")% ")>#$6'77#+#(/$74(./'*()8$+*8#%2$ '/$0',"/
!78
")>#$:##($;+#6'./#6$/")/$/"#%#$/-*$%4:1 4(6#+$'(3)00)/*+9$.*(6'/'*(%<\C$$I(/#+1 %/+)/#$ ;**+$ 0',+)/'*($ 7+*0$ /"#$ %&'($ /*
%#/%$ *7$ !$ .#88%$ -*486$ #5;+#%%$ 6'77#+#(/ #%/'(,892$ =!S=f$ ")%$ :##($ +#;*+/#6$ /* +#,'*()8$ WT%OG$ )(6$ :9$ /"#$ *:%#+>)/'*(
."#0*&'(#$+#.#;/*+%<$I(6##62$==RcABY\A ;+#7#+#(/')889$ )//+)./$ =WSd$ 0#0*+9$ ! /")/$ )(/':*6'#%$ /*$ @W=$ :8*.&$ 0',+)/'*(
)(6$ ==RO\\$ )+#$ )%%*.')/#6$ -'/"$ !"\ .#88%$ '($ >'/+*\C$ )(6$ ")%$ :##($ 6#0*(1 *7$ Z=%$ 7+*0$ /"#$ ;#+';"#+9$ /*$ WT%<Oc
.#88%$ '($ >'/+*2$ -"#+#)%$ !"A$ .#88%$ )+#$ )%1 %/+)/#6$/*$;8)9$)$+*8#$'($/"#$+#.+4'/0#(/ !"4%2$==RC$)(6$'/%$8',)(6%$7).'8'/)/#$/"#
%*.')/#6$-'/"$==RD$)(6$=J=RO<\O )(6$ 74(./'*($ *7$ %&'(1"*0'(,$ !$ .#88%$ '( +#.+4'/0#(/$ *7$ )/$ 8#)%/$ /-*$ 6'77#+#(/
I($ %*0#$ '(%/)(.#%2$ ."#0*&'(#$ +#.#;1 '(3)00)/*+9$6'%#)%#$0*6#8%<\G2\B &'(6%$*7$.#88%l()'>#$!$.#88%$)(6$Z=%l
/*+%$ 0)9$ :#$ +#,)+6#6$ )%$ 74(./'*()8 /*$/"#$WT%$/"+*4,"$/-*$6'77#+#(/$+*4/#%
0)+&#+%$ /")/$ '6#(/'79$ !"A1$ >#+%4%$ !"\1 4(6#+$ :*/"$ '(3)00)/*+9OG$ )(6$ +#%/'(,
/9;#$890;"*.9/#%$-"'8#$)8%*$;+*0*/'(, !<=->?@0=A(@0(C<=(%D,IKE?@01( .*(6'/'*(%<Oe
/"#'+$ +#.+4'/0#(/$ /*$ '(3)00)/*+9$ %'/#% >I(9=0BD@C@E(!=HHA(ID>-(+?@0(C>( S7/#+$ Z=%$ +#)."$ /"#$ WT2$ /"#9$ 04%/
.")+)./#+'H#6$ :9$ g)88#+,'.h$ *+$ g.#881 '=1@>0,H(;O-F<(8>B=A '(/#+)./$-'/"$!$.#88%$/*$7*+0$)$%*1.)88#6
0#6')/#6h$'004('/92$+#%;#./'>#89<$i"#( (%%-)&1&4(",*2)07*$$/")/$'%$.+'/'.)8$7*+$!1
!$ .#88%$ )+#$ )./'>)/#6$ '($ >'/+*$ '($ /"# S(/',#(1;+#%#(/'(,$ .#88%2$'(.846'(,$ Z=% .#88$ )./'>)/'*(<$ S./'>)/#6$ Z=%$ %#.+#/#$ )
;+#%#(.#$ *7$ !"A1;+*0*/'(,$ .9/*&'(#%2 *7$ /"#$ %&'(2$ )+#$ .+'/'.)8$ '('/')/*+%$ *7$ '01 (40:#+$ *7$ ."#0*&'(#%2$ '(.846'(,$ 0).1
=J=RO$ )(6$ ==RD$ );;#)+$ /*$ :#$ "',"89 04(#$ +#%;*(%#%$ )(6$ /"#'+$ /+)7?.&'(, +*;"),#16#+'>#6$ ."#0*&'(#2OB$ -"'."
#5;+#%%#62$ -"#+#)%$ '($ /"#$ ;+#%#(.#$ *7 ;)//#+(%$)+#$/"*4,"/$/*$'(34#(.#$'0041 )//+)./%$ !$ .#88%$ /*$ /"#$ >'.'('/9$ *7$ Z=%
!"\1;+*0*/'(,$.9/*&'(#%2$==Rc2$==RG2 (*8*,'.$ *4/.*0#%<$ !"#'+$ 0'%%'*($ '(1 )(6$ ;+*0*/#%$ )6"#%'*($ :#/-##($ /"#
)(6$ ==RO$ #5;+#%%'*($ ;+#6*0'()/#%<$ I( .846#%$ /)&'(,$ 4;$ )(/',#($ )/$ %'/#%$ *7$ '(1 /-*$ .#88$ /9;#%<cE2cA$ ==RD$ K>')$ ==WOVcL
+"#40)/*'6$ )+/"+'/'%2$ )$ !"A1;+#6*0'1 7#./'*($ *+$ '(M4+9$ )(6$ :+'(,'(,$ /"#%# ")%$)8%*$:##($'6#(/'?#6$)%$0#6')/'(,$+#1
()(/$ 6'%#)%#2$ 0)(9$ '(?8/+)/'(,$ !$ .#88% )(/',#(%$ /*$ +#,'*()8$ WT%$ -"#+#$ /"#9 .+4'/0#(/$ *7$ ()'>#$ =ZGd$ !$ .#88%$ /*$ ),1
#5;+#%%$ ==RD$ )(6$ =J=RO\c$ -"#+#)%2 :*/"$ ;+#%#(/$ )(/',#($ )(6$ +#,48)/#$ /"# ,+#,)/#%$*7$)(/',#(1%;#.'?.$=Zcd$!$.#88%
'($ )/*;'.$ 6'%#)%#2$ ==Rc$ #5;+#%%'(,$ ! +#%;*(%#%$*7$!$)(6$_$.#88%<$@&'(1+#%'6#(/ )(6$ Z=%<c\$ !"#+#7*+#2$ ."#0*&'(#%$ *+1
.#88%$ 0)9$ :#$ 0*+#$ 7+#`4#(/<\A$ !"#+#$ '% Z=%$ )+#$ '('/')889$ 6#+'>#6$ 7+*0$ "#0)/*1 ."#%/+)/#$ )$ .*0;8#5$ %#+'#%$ *7$ 0',+)/'*(
8'Y$/*$:#$*>#+8);$)%$6#0*(%/+)/#6$4(1 ;*'#/'.$ :*(#$ 0)++*-$ ;+*,#('/*+%OE$ )(6 ;)//#+(%2$:+'(,'(,$:*/"$Z=%$)(6$!$.#88%
6#+$%*0#$.*(6'/'*(%$'($-"'."$:*/"$!"A 0',+)/#$ /*$%&'($64+'(,$ /"#$ 8)/#$ ;+#()/)8 /*$/"#$.*(?(#%$*7$/"#$WT2$-"#+#$#5;+#%1
)(6$ !"\$ /9;#$ !$ .#88%$ .)($ #5;+#%% )(6$(#-:*+($;#+'*6%$*7$8'7#<$k(6#+$+#%/1 %'*($*7$."#0*&'(#%$:9$Z=%$/"#0%#8>#%
==Rc<\E '(,$ K%/#)69$ %/)/#L$ .*(6'/'*(%2$ "*0#*1 );;#)+%$/*$:#$)$6'+#./$%',()8$7*+$:'(6'(,
!"#$ #;'6#+0'%$ '%$ )$ ;)+/'.48)+89$ +'." %/)/'.$ ;+*64./'*($ :9$ &#+)/'(*.9/#%$ *7 *7$/"#$!$.#88$K%##$[',<$A\1OL<
%*4+.#$*7$."#0*&'(#%2$'(.846'(,$RST!U@2 =J=WAc$ K+#.#;/*+$ 4(&(*-(L$ 0)9$ :#
0).+*;"),#$ ."#0*)//+)./)(/$ ;+*/#'(1A '(>*8>#6$ '($ )//+)./'(,$ =ZAcd$ Z=$ ;+#1
KF=b1AL2$ Ib1AE2$ IW1G2$ WSR=2$ )(6$ /"91 .4+%*+%$/*$/"#$:)%)8$8)9#+$*7$/"#$#;'6#+1 !"&53678&+(78(97+&#+&
04%$ )(6$ )./'>)/'*(1+#,48)/#6$ ."#0*1 0'%<OA$ k(6#+$ '(3)00)/*+9$ .*(6'/'*(%2
&'(#$ K!SR=L2$ -"'."$ 8'Y$ .*(/+':4/# -"#($ %&'(1+#%'6#(/$ Z=$ )(6$ W=$ 8#)>#
#C>F@E(9=D-,C@C@A K@##$=");<$AcL
/*$#;'6#+0)8$!1.#88$0',+)/'*(<$f#+)/'(*1 /"#$%&'($'($8)+,#$(40:#+%2$&#+)/'(*.9/#% S/*;'.$6#+0)/'/'%$'%$)$;+*/*/9;'.)8$!"\1
.9/#%$7+*0$;)/'#(/%$-'/"$6'%/'(./'>#$%&'( +#8#)%#$)$>)+'#/9$*7$."#0*&'(#%2$'(.8461 0#6')/#62$)88#+,'.$%&'($6'%#)%#$K%##$=");<
6'%#)%#%$ );;#)+$ /*$ #5;+#%%$ 4('`4#$ ."#1 '(,$ ==W\$ )(6$ ==WC$ K>')$ ==R\LO\$ )(6 AcL$ '($ -"'."$ ."#0*&'(#%$ 0)9$ ;8)9
0*&'(#$ #5;+#%%'*($ ;+*?8#%<$ [*+$ '(1 ==W\E$K>')$==ReL2OO$-"'."$0)9$)//+)./ ;)/"*,#('.$ +*8#%<cO$ !"#$ 0#.")('%0$ *7
%/)(.#2$ &#+)/'(*.9/#%$ 6#+'>#6$ 7+*0$ ;)1 0*(*.9/#18'&#$Z=$;+#.4+%*+%$/*$/"#$#;'1 890;"*.9/#$ "*0'(,$ /*$ %&'($ '($ /"#$ %#/1
/'#(/%$ -'/"$ )/*;'.$ 6#+0)/'%$ K%##$ =");< 6#+0'%$/*$+#;8#('%"$/"#$W=$;*;48)/'*(< /'(,$*7$)/*;'.$6#+0)/'/'%$")%$:##($#84.'1
AcL$ %9(/"#%'H#6$ 0#%%#(,#+$ RTS$ 7*+ i"#($ )./'>)/#6$ :9$ '(3)00)/*+9$ .91 6)/#6$ :9$ .8'('.)8$ 6)/)$ 7+*0$ "40)(%$ )%
RST!U@$ )/$ .*(%'6#+):89$ #)+8'#+$ /'0# /*&'(#%$ K#<,<2$ !T[1 2$ )(6$ IW1A 2$ 8';*1 -#88$)%$#5;#+'0#(/)8$6)/)$'($/"#$T=VT,)
;*'(/%$'($+#%;*(%#$/*$IW1c$)(6$!T[1 $'( ;*89%)..")+'6#2$ *+$ '(M4+92$ %&'($ Z=%2$ '(1 0*4%#$ 0*6#8$ *7$ )/*;'.$ 6#+0)/'/'%2
.*0;)+'%*($ /*$ 4()77#./#6$ )(6$ ;%*+')/'. .846'(,$ W=%2$ 8#)>#$ /"#$ #;'6#+0'%2$ #(/#+ -"'."$ %4,,#%/$ /")/$ /"#$ !"\1)%%*.')/#6
;)/'#(/%<\D$ f#+)/'(*.9/#%$ 6#+'>#6$ 7+*0 )77#+#(/$ 890;")/'.$ >#%%#8%2$ )(6$ 0',+)/# ."#0*&'(#$ +#.#;/*+2$ ==Rc2$ '($ .*(M4(.1
;%*+')/'.$;)/'#(/%$K%##$=");<$AGL$%9(/"#1 /*$6+)'('(,$+#,'*()8$WT%$-"#+#$/"#9$#(1 /'*($-'/"$'/%$8',)(62$!SR=V==WAC2$0)9
%'H#6$ "',"#+$ 8#>#8%$ *7$ Ib1AE$ -'/"$ .9/*1 .*4(/#+$:*/"$()'>#$)(6$0#0*+9$!$.#88%< ;8)9$)$+*8#$'($+#.+4'/'(,$!$.#88%$/*$)/*;'.
&'(#$ %/'048)/'*($ )%$ -#88$ )%$ "',"#+$ .*(1 ="#0*&'(#%$,4'6#$/"#$Z=$*($/"'%$M*4+1 %&'(<$I($"40)($;)/'#(/%$-'/"$)/*;'.$6#+1
%/'/4/'>#$ 8#>#8%$ *7$ IW1G2\D$ )$ ."#0*&'(# (#9<$ S./'>)/#6$ Z=$ %;#.'?.)889$ 4;+#,41 0)/'/'%2$=WSd==Rcd$890;"*.9/#%$-#+#
&(*-($ /*$ +#.+4'/$ (#4/+*;"'8%<$ IW1G$ 0)9 8)/#$#5;+#%%'*($*7$==RC2$-"'."$:'(6%$/* 7*4(6$ /*$ :#$ '(.+#)%#6$ '($ /"#$ ;#+';"#+)8
.*(/+':4/#$/*$/"#$8)+,#$(40:#+%$*7$(#41 %#.*(6)+9$ 890;"*'6$ /'%%4#$ ."#0*&'(# :8**6$*7$)/*;'.$6#+0)/'/'%$;)/'#(/%$.*01
/+*;"'8%$ /")/$ 8*.)8'H#$ /*$ /"#$ %4;+):)%)8 K@W=V==W\AL2$ )$ ."#0*&'(#$ #5;+#%%#6 ;)+#6$/*$.*(/+*8%<\A$F*+#*>#+2$%#+40$8#>1
)(6$.*+('?#6$8)9#+%$*7$/"#$#;'6#+0'%$'( .*(%/'/4/'>#89$ :9$ 890;")/'.$ #(6*/"#8')8 #8%$*7$!SR=$'($)/*;'.$6#+0)/'/'%$;)/'#(/%
;%*+')%'%<$Ib1AE$0)9$%#+>#$/*$+#.+4'/$)./'1 .#88%$ K%##$ #[',<$ A\1\<A$ '($ *(18'(#$ #6'1 -#+#$AE17*86$"',"#+$/")($.*(.#(/+)/'*(%
>)/#6$ !$ .#88%$ *7$ /"#$ !"A$ "#8;#+$ ;"#(*1 /'*(L<Oc2OD$ @W=$ ,4'6#%$ Z=%$ '(/*$ 6#+0)8 7*4(6$'($4()77#./#6$'(6'>'64)8%$)(6$.*+1
/9;#$/*$/"#$#;'6#+0'%$)(6$")%$:##($;*%1 890;")/'.$>#%%#8%$)(6$"#8;%$+#/)'($/"#0 +#8)/#6$ -'/"$ 6'%#)%#$ %#>#+'/92$ -"#+#)%
/48)/#6$ /*$ ")>#$ )$ +*8#$ '($ /"# '($ @W=1+'."$ +#,'*()8$ 6+)'('(,$ WT%$ K[',< ;%*+')/'.%$%"*-#6$*(89$)$0'('0)8$#8#>)1
+#.+4'/0#(/$*7$0)8',()(/$!$.#88%$/*$/"# A\1OL<Oe /'*($ *7$ !SR=$ '($ /"#$ %#+40<cc$ I(/#+#%/1
%&'($'($.4/)(#*4%$!1.#88$890;"*0)%<\e I(/#+#%/'(,892$ ()'>#$ !$ .#88%$ )8%* '(,892$)(*/"#+$."#0*&'(#2$==WAG2$-"*%#
=4/)(#*4%$ !$ .#88Y)//+)./'(,$ ."#0*1 %/+*(,89$ #5;+#%%$ ==RC$ )(6$ 4%#$ /"'%$ +#1 +#.#;/*+$ '%$ .4++#(/89$ 4(&(*-(2$ '%$ ;+*1
&'(#$K=!S=fLV==$."#0*&'(#$8',)(6$\C .#;/*+$ /*$ )++#%/$ *($ "',"$ #(6*/"#8')8 64.#6$ :9$ W=$ K)%$ -#88$ )%$ */"#+$ )(/',#(1
K==W\CL$'%$%#8#./'>#89$)(6$.*(%/'/4/'>#89 >#(48#%<OC$!"#$'0;*+/)(.#$*7$/"#$==RC ;+#%#(/'(,$ .#88%L$ )(6$ %"*-%$ %#8#./'>#
#5;+#%%#6$ '($ /"#$ #;'6#+0'%2$ )(6$ '/%$ #51 ;)/"-)9$ '%$ 6#0*(%/+)/#6$ :9$ W=%$ 7+*0 #5;+#%%'*($'($)/*;'.$%&'($+#8)/'>#$/*$;%*1
;+#%%'*($ '%$ *(89$ 0)+,'()889$ '(.+#)%#6 ==RC$ &(*.&*4/$ 0*4%#$ /")/$ 6#0*(1 +')/'.$ %&'(<$ @'0'8)+$ /*$ !SR=2$ ==WAG$ )/1
!7!
/012345!"67 %D,IKE?@01(>I(=F@M
B=D-,H( ;,01=D<,0A( E=HHA( T;!AU( C>
D=1@>0,H(HO-F<(0>B=A.(;!A(,D=(,EC@M
G,C=B(QO(,(G,D@=CO(>I(AC@-JH@S(@0EHJBM
@01(@0cJDOS(@0I=EC@>JA(,1=0CAS(,0B(EOM
C>?@0=A(AJE<(,A(@0C=DH=J?@0M) (,0B
CJ->D( 0=ED>A@A( I,EC>DM .( ",G@01
A,-FH=B( ,0C@1=0AS( C<=( ,EC@G,C=B
;!A( B>/0D=1JH,C=( &ME,B<=D@0( ,0B
ACD>01HO( JFD=1JH,C=( !!( E<=->?@0=
D=E=FC>D( X( T!!'XU.( +=0A@01( C<=
!!'XMH@1,0BS( A=E>0B,DO( HO-F<>@BM
>D1,0( E<=->?@0=( T+;!Z( US( FD>M
BJE=B( QO( HO-F<,C@E( =0B>C<=H@,H
E=HHAS( C<=( ;!A( -@1D,C=( @0C>( HO-M
F<,C@E(G=AA=HAS(F,AA@G=HO(R>/(C>(C<=
HO-F<(0>B=AS(,0B(AC>F(@0(C<=(%ME=HH
P>0=A( T%!kAU( C<,C( ,D=( D@E<( @0( C/>
!!'X( H@1,0BAS( +;!( ,0B( &FAC=@0M
Y,DD(G@DJAe@0BJE=B(->H=EJH=M)(H@1,0B
E<=->?@0=(T&;!U.(8>C=(C<,C(E<=->M
?@0=A(,HA>(E>0CD@QJC=(C>(C<=(D=EDJ@CM
-=0C(>I(;!A(J0B=D(Q>C<(D=AC@01(,0B
@0R,--,C>DO( E>0B@C@>0A.( Y!k(i( YM
E=HH(P>0=Z(!!;(i(!!(E<=->?@0=(H@M
1,0BZ( !g!;( i( !g!( E<=->?@0=( H@M
1,0B.(
4+@(=%&A*<A5>&AA,
!.0
1,23
5#.-.'9&':;+).%#&
!43
%<&9+"=%*>-+)&-%&
561,3 +#:%-;+9."?
,*-./'-.%# 7,23
31,38
/012345!"69 $>AA@QH=(A@C=A(>I(,EC@>0A(>I(E<=->?@0=A(@0(FA>D@,A@A.(!<=->?@0=A(,CCD,EC(Q>C<(0=JCD>F<@HA(TC>(I>D-(5J0D>(,QAE=AA=AU(,0B(HO-F<>EOC=A(G@,(,CM
C,E<-=0C(C>(=0B>C<=H@,H(E=HHA(,0B(C<=0(-@1D,C=(C>(C<=(=F@B=D-@A(T=F@B=D->CD>F@A-U.(+F=E@KE(E<=->?@0=A(C=0B(C>(,CCD,EC(=@C<=D(0=JCD>F<@HA(>D(HO-F<>EOC=AS(QJC(1=0M
=D,HHO(0>C(Q>C<.(#(0=/HO(@B=0C@K=B(AJQA=C(>I(%(E=HHA(E,0(A=ED=C=(@0C=DH=J?@0ML(,0B(,CCD,EC(0=JCD>F<@HA(@0(E>0B@C@>0A(AJE<(,A(,EJC=(1=0=D,H@P=B(=],0C<=-,C>JA(FJACJM
H>A@A.VL(9=0BD@C@E(E=HHA(-,O(,HA>(A=ED=C=(E<=->?@0=AS(,CCD,EC(%(E=HHAS(,0B(AC@-JH,C=(E>0cJ1,C=(I>D-,C@>0(C<,C(,EC@G,C=A(%(E=HHA.(!!'(i(!!(E<=->?@0=(D=E=FC>DZ
!%#!6(i(EJC,0=>JA(%(E=HHe,CCD,EC@01(E<=->?@0=Z(!g!'(i(!g!(E<=->?@0=(D=E=FC>DZ(7;ML(i(@0C=DH=J?@0(LZ(7M%#!(i(@0C=DI=D>0M@0BJE@QH=(%(E=HH( (E<=->,CCD,EC,0CZ
;#'!(i(H@G=D(,0B(,EC@G,C@>0MD=1JH,C=B(E<=->?@0=Z(5!$M)(i(-,ED>F<,1=(E<=->,CCD,EC,0C(FD>C=@0M)Z(59!(i(-,ED>F<,1=MB=D@G=B(E<=->?@0=Z(5@1(i(->0>?@0=
@0BJE=B(QO(@0C=DI=D>0M Z('#8%&+(i(D=1JH,C=B(>0(,EC@G,C@>0(0>D-,H(%ME=HH(=]FD=AA=B(,0B(A=ED=C=BZ(%#'!(i(C<O-JA(,0B(,EC@G,C@>0MD=1JH,C=B(E<=->?@0=.
#%(#(:;#8!&( "G5H&('?>*+5K"8LM
7G5O!A,!'5(J5P&;I5K"BLM
!!GF
!!GF
7"G5N!+(A*+5K78LM
77G5Q6=&;=6OI=?AQ%&+(A5J(;'!A@&6
"G"
!G.
9G5/;!D;!+>&5'*R5K-LM !8G9 %?@&5;&,*+5K!LM
BG5S%*'&;(,!A5K8G!LMQ !8G" W[.(:HOE=DOH(C<@>1HOE>H,C=(T)mU ).a
\.(+>B@J-(1>HB(C<@>AJHI,C=(TN.VmU, )N.* 7BG5O&+T(>!*+&5KBLM !G#
#G5UI!=&;+*I'6!B5K"LMQ .G7 W\.(%>HAOH,-@B=(I>D-,HB=<OB=(D=A@0(T)NmU ).\
-G5/(;'!A@&%?@&5K!L5!V,MQ -G9 WX.(5=C<OH(-=C<,EDOH,C=(T*mU ).[
a.(Y,E@CD,E@0(T*NmU X.a WL.(:HJC,D,HB=<OB=(T)mUQ ).[
!8G5$(W!A=5>%A(;*@&5K!LM, #G9 Wa.(&C<OH(,EDOH,C=(TN.)mU ).W
#HH=D1@E(E>0C,EC(B=D-,C@C@A(T#!9U(@A(C<=(
)).(59:8h$&(T*.VmUQ V.L [N.(BHM M%>E>F<=D>H ).)
EH,AA@E(FD=A=0C,C@>0(>I(B=H,O=BMCOF=(
!"G5$!;W!5'*R5K78LME 9G. [).(YJB=A>0@B=(TN.)mU ).)
<OF=DA=0A@C@G@CO(D=AF>0A=A(C>(=]>1=0>JA(
!7G5P!;!6Q%&+?A&+&@*!'*+&5K!LM 9G- [*.(959"&2(T[.Vm(,fAU ).)
,1=0CA.
!9G5S%*I;!'5K!LME 9GB [W.(jH,01MOH,01(>@H(T*mU ).)
3G=D(WXNN(,HH=D1=0A(<,G=(Q==0(D=F>DC=B( !BG5P(=!,,*I'5@*>%;('!=&5K8G"BLM, 9G7 99G5OA!>)5;IWW&;5'*R5KFLME !G8
C>(E,JA=(#!9(@0(<J-,0A. )\.(Y=0P,H?>0@J-(E<H>D@B=(T)m(,fAUQ [.W [V.(!>-F>A@C,=(-@](T\mU ).N
#!9(-,O(EH@0@E,HHO(FD=A=0C(,EJC=HO(,IC=D( )X.($D>FOH=0=(1HOE>H(TWNm(,fAU [.* 9FG5X&;>!Q=(W&+T(=%*!T(A&5K!LME 8G.
,HH=D1=0(=]F>AJD=(,0B(@0@C@,H(A=0A@C@P,C@>0( )L.(*MYD>->M*M0@CD>FD>F,0=M)SWMB@>H( W.W [X.(9@QJE,@0=(T*.VmU N.a
>D(,IC=D(=H@E@C,C@>0(@0(,(FD=G@>JAHO(A=0A@M TN.VmUQ [L.(%<@>JD=,A(T)mU N.L
C@P=B(@0B@G@BJ,H. )a.(9@,P>H@B@0OHJD=,(T)m(,fAUQ W.* [a.(l,A-@0=(,QA>HJC=(T*mU N.X
%<=(,EJC=(F<,A=(@A(E<,D,EC=D@P=B(QO(C<=( *N.(7-@B,P>H@B@0OHJD=,(T*mUQ W.N B8G5X&;>!Q=(5'*R5K!LME 8G#
B=G=H>F-=0C(>I(=DOC<=-,C>JAS(@0BJD,C=BS( *).(%@]>E>DC>HM*)MF@G,H,C=(T)mU W.N V).(;@B>E,@0=(T)VmU N.X
AE,HO(FH,fJ=AS(/@C<(A=G=D=(E,A=A(B=->0M **.(9@AF=DA=(YHJ=()N\(T)mU W.N B"G5P!;!W&+5'*R5K!LMQ 8GF
ACD,C@01(G=A@EJH,C@>0(,0B(QJHH,=(@0( "7G54=%?A&+&@*!'*+&5@*%?@;(6 "G- VW.(+=AfJ@C=DF=0=(H,EC>0=(TN.)mU N.\
=]F>A=B(,D=,A.(#II=EC=B(A@C=A(>IC=0(-@-@E( >%A(;*@&5K!LM V[.(Y=0P>F<=0>0=(TWmU N.\
C<=(F,CC=D0(>I(=]F>AJD=(,0B(-,O(FD>G@B=( *[.(9595(<OB,0C>@0(T)mUQ *.L VV.($!5g(T)mUQ N.\
@0A@1<C(@0C>(C<=(,HH=D1=0(A>JDE=(,0B(=H@E@M *V.(!>E,-@B>FD>FOH(Q=C,@0=(T)m(,fAU *.L V\.(%=CD,E,@0=(T)mU N.\
C>D(>I(B@A=,A=. *\.(59:8h$&(T[mUQ *.X VX.("OBD>E>DC@A>0=M)XMQJCOD,C=(T)mU N.V
'=F=,C=B(>D(E>0C@0J>JA(=]F>AJD=(>I(A=0A@M "#G5$(A(Q%(+?5K"8LM "GF VL.(BHM M%>E>F<=D>H(,E=C,C= N.V
C@P=B(@0B@G@BJ,H(C>(,HH=D1=0A(D=AJHCA(@0( "-G54Q(R?5;&,*+5K!LM "G7 Va.(7$Y!(TN.)mU N.W
E<D>0@E(B@A=,A=S(/<@E<(@A(JAJ,HHO(-,D?=B(QO( ".G5X$0YX05K!885QQ'5!V,MQ "G7 \N.($&(T)mUQ N.*
H@E<=0@K=B(=DOC<=-,C>JA(FH,fJ=A(/@C<(G,D@M WN.(#-@B>,-@0=(TN.)m(,fAU *.W \).($D@H>E,@0=(T*.VmU N.)
,QH=(<OF=D?=D,C>A@AS(AE,H=S(,0B(KAAJD@01.
,fA(i(,fJ=>JAZ(959"&2(i(B@-=C<OH>HB@<OBD>]O=C<OH=0=JD=,Z(9595(i(B@-=C<OH>HMB@-=C<OHZ(&2h54(i(=C<OM
%<=(<,0BAS(I==CS(=O=H@BAS(,0B(H@FAS(/<@E<( H=0=JD=,h-=H,-@0=(I>D-,HB=<OB=Z(7$Y!(i(@>B>FD>FO0OH(QJCOH(E,DQ,-,C=Z(5!7h57(i(-=C<OHE<H>D>@A>C<@,P>H@M
E>-->0HO(E>-=(@0(E>0C,EC(/@C<(C<=(=0G@M 0>0=h-=C<OH@A>C<@,P>H@0>0=Z(59:8(i(-=C<OHB@QD>->(1HJC,D>0@CD@H=Z($!5g(i(F,D,E<H>D>-=C,]OH=0>HZ($&(i(
D>0-=0CS(,D=(H@?=HO(A@C=A(I>D(#!9. F<=0>]O=C<,0>H.
,5=C,H(,HH=D1=0.
"@AC>F,C<>H>1@E(FD=A=0C,C@>0(E>0A@ACA(>I( QY@>E@B=AhFD=A=DG,C@G=A.
E'JQQ=D(,BB@C@G=.
=F@B=D-,H(AF>01@>A@A(/@C<(,(AJF=DKE@,HS(
F=D@G,AEJH,DS(HO-F<><@AC@>EOC@E(B=D-,H( Y>HB(@0B@E,C=A(E>-F>0=0CA(>I(%.'.2.&.(T%<@0MH,O=D(',F@B(2A=(&F@EJC,0=>JAU(%=AC.(T%.'.2.&.(%=AC(JA=A(E,@0=(-@](
@0AC=,B(>I(Q=0P>E,@0=.U(
@0KHCD,C=.( 8>DC<(#-=D@E,0(!>0C,EC(9=D-,C@C@A(:D>JF.(-#$.$/+,0%10$2("#%0+3 !Bn)X\S(*NN[.
*7$W):*+$@/)/'%/'.%2$6*-($DE$;#+.#(/$7+*0 ;+#>)8#(.#$)(6$'(.'6#(.#$*7$S=Z$")>#
/"#$ BcC\$ .)%#%$ +#,'%/#+#6$ M4%/$ AE$ 9#)+% #>#+$ :##($ ;#+7*+0#62$ /"#$ +#0)'(6#+$ *7
#)+8'#+<$!"#$%4:%/)(/')8$6+*;$*>#+$/")/$6#1 )>)'8):8#$ #;'6#0'*8*,'.$ 6)/)$ '%$ ,#(#+1
.)6#$'($:*/"$/"#$+)/#$)(6$):%*84/#$(401 )889$*:/)'(#6$7+*0$+#/+*%;#./'>#$%/46'#%
:#+$ *7$ .)%#%$ *7$ *..4;)/'*()8$ 6#+0)/'/'% +#>'#-'(,$ %;#.'?.$ :*69$ %'/#%$ *7$ '(1
0)9$ +#3#./$ '0;+*>#6$ -*+&$ .*(6'/'*(% >*8>#0#(/<$ !"#%#$ 6)/)$ )+#$ 0)++#6$ /*
)(6$ 0)9$ #5;8)'($ /"#$ *:%#+>#6$ +#8)/'># >)+9'(,$#5/#(/%$:9$/"#$%#8#./'*($:')%$'(1
6#.+#)%#$ '($ '++'/)(/$ .*(/)./$ 6#+0)/'/'% "#+#(/$'($ +#7#++)8$ /*$ )$ ;)/."$ /#%/$ .#(/#+
KI=ZL$)(6$;+*;*+/'*()8$'(.+#)%#$'($S=Z< )(6$ 0)9$ (*/$ :#$ +#;+#%#(/)/'>#$ *7$ /"#
I/$ '%$ '0;*+/)(/$ /*$ (*/#$ /")/$ /"#$ ;+#>)1 ,#(#+)8$ ;*;48)/'*(<$ T#>#+/"#8#%%2$ %4."
8#(.#$*7$S=Z$'($/"#$,#(#+)8$;*;48)/'*($'% 6)/)$ ;#+0'/$ +#.*,('/'*($ *7$ )88#+,#(%
*7/#($#5/+);*8)/#6$7+*0$/"#$6)/)$,8#)(#6 -'/"$ "',"$ %#(%'/'H'(,$ ;*/#(/')8$ )(6
7+*0$ *..4;)/'*()8$ 6#+0)/'/'%$ %/46'#%$ *+ %/+)/#,'#%$7*+$/"#'+$+#;8).#0#(/$:9$%4:1
7+*0$ .#(/#+%$ )(6$ ,+*4;%$ /")/$ ;)/."1/#%/ %/)(.#%$ -'/"$ 8*-$ %#(%'/'H'(,$ ;*/#(/')8<
;)/'#(/%$-"*$)8+#)69$")>#$6#+0)/'/'%< !):8#$ AO1A$ 8'%/%$ 0)(9$ .*00*($ )88#+1
/012345!76! #HH=D1@E( E>0C,EC( B=D-,C@C@A( C> _#.)4%#$ 7#-$ .+*%%1%#./'*()8$ ,#(#+)8 ,#(%$/")/$#8'.'/#6$;*%'/'>#$/#%/$+#%48/%$'(
=F>]O.(%<@A(F,C@=0C(/,A(>EEJF,C@>0,HHO(=]F>A=B. ;*;48)/'*(1:)%#6$ %/46'#%$ +#,)+6'(,$ /"# )$,+*4;$*7$'(6'>'64)8%$-"*$-#+#$;)/."1
!7F
+)/"#+$%4:%/)(/')8$;+#>)8#(.#$+)/#%$-"#(
/"#9$ )+#$ ;)/."1/#%/#6$ 4(6#+$ );;+*;+')/#
.*(6'/'*(%AE$ K[',<$ AO1\L<$ I($ I/)892$ *7$ AEBc
.*(%#.4/'>#89$ ;)/."1/#%/#6$ ."'86+#(2$ DCE
;+*>#6$ /*$ :#$ )88#+,'.$ KD\<A$ ;#+.#(/L<$ I(
/"'%$ .*"*+/$ *7$ ."'86+#($ 9*4(,#+$ /")($ A\
9#)+%$ *7$ ),#2$ /"#$ "',"#%/$ %#(%'/'H)/'*(
+)/#$-)%$*:%#+>#6$'($/"*%#$C$0*(/"%$/*$O
/012345!76" %<@A( F,C@=0C 9#)+%$*7$),#$KeO<c$;#+.#(/$)88#+,'.L<$F#/1
/,A( I>J0B( C>( <,G=( EH@0@E,HHO )8%2$ 0#+.4+9$ 6#+'>)/'>#%$ K/"'0#+*%)8$ )(6
0#/)88'.$0#+.4+9L2$(#*09.'(2$-**8$)8.*1
D=H=G,0C( F>A@C@G=( D=,EC@>0A( C>
"*8%2$0#/"98."8*+*'%*/"')H*8*(#10#/"981
Q,HA,-( >I( $=DJ( ,0B( QD>->0@M
'%*/"')H*8'(*(#$ Kf)/"*($ =aL2$ )(6$ 7+)1
CD>FD>F,0=. ,+)(.#$ 0'5$ -#+#$ /"#$ 0*%/$ 7+#`4#(/
.*(/)./$)88#+,#(%<$a'+8%$%"*-#6$)$,+#)/#+
/#%/#6$ :9$ /"#$ T*+/"$ S0#+'.)($ =*(/)./ S(*/"#+$ k('/#6$ @/)/#%Y:)%#6$ %/469 ;+*;#(%'/9$ 7*+$ ('.$ )88#+,9$ /")($ :*9%<
Z#+0)/'/'%$a+*4;< 7*4(6$/")/$AC$;#+.#(/$*7$)$k<@<$0)(),#6 !"#$ (#.&$ )(6$ )(/#.4:'/)8V;*;8'/#)8$ 7*%1
I($ /-*$ .+*%%1%#./'*()8$ %/46'#%2$ CeB .)+#$ '(%4+#6$ ;*;48)/'*($ #5;#+'#(.#6 %)#$-#+#$0*+#$7+#`4#(/89$'(>*8>#6$'($'(1
+)(6*089$%#8#./#6$AD1$/*$cA19#)+1*86$;)1 ")(6$6#+0)/'/'%2$-'/"$*(#$'($%'5$)77#./#6 6'>'64)8%$ )88#+,'.$ /*$ ('.$ )(6$ f)/"*(
/'#(/%$ 7+*0$ /"#$ -#%/#+($ ;)+/$ *7$ =*;#(1 ;)/'#(/%$ (*/$ %##&'(,$ 0#6'.)8$ )//#(/'*(< =a2$ )(6$ %#(%'/'H)/'*($ -)%$ 0*+#$ 7+#1
"),#($ =*4(/92$ Z#(0)+&2$ -#+#$ ;)/."1 !"#$ #77#./$ *7$ ."+*('.$ ")(6$ 6'%#)%#$ -)% `4#(/89$%##($'($)/*;'.$/")($'($(*(1)/*;'.
/#%/#6$'($ABBE$)(6$ABBG$/*$#>)84)/#$/"# #%/'0)/#6$/*$'(.+#)%#$/*/)8$0#6'.)8$.*%/% ;)/'#(/%<AA
;*'(/$;+#>)8#(.#$*7$S=Z$'($/"'%$;*;48)1 :9$ \D$ ;#+.#(/$ *+$ qCE$ ;#+$ 0*(/"$ :)%#6 =8'('.)8892$ '(6'>'64)8%$ *86#+$ /")($ eD
/'*(<$!"#$+)/#$*7$;*%'/'>#$+#)./'*(%$/*$)/ *($ 0#6'.)8$ .)+#$ 6#8'>#+9$ )(6$ ;+#%.+';1 9#)+%$ ")>#$ >)+'*4%$ 6#7#./%$ '($ /"#$ '(64.1
8#)%/$*(#$)88#+,#($-)%$AD<B$;#+.#(/$)(6 /'*($.*%/%<e /'*($)(6V*+$#8'.'/)/'*($*7$S=Z<AO$I($%/461
AG<e$ ;#+.#(/2$ +#%;#./'>#89<$ T'.$ -)% i'/"$/"#$ "',"$ '(.'6#(.#$*7$ ")(6$ )(6 '#%$*7$;#-*$+#)./'>'/92$9*4(,#+$'(6'>'64)8%
/"#$ 0*%/$ .*00*($ )88#+,#(<$ [4+/"#+1 7).#$ #5;*%4+#$ /*$ /"#$ #(>'+*(0#(/2$ *(# KAG$ /*$ \D$ 9#)+%L$ ")6$ )$ 0*+#$ +);'6$ *(%#/
0*+#2$ /"#$ '(>#%/',)/*+%$ (*/#6$ )$ %/)/'%/'1 -*486$ )(/'.';)/#$ )$ .*0;)+):8#$ ;+#>)1 )(6$ +#%*84/'*($*7$ /"#$ 6#+0)/'/'%$/")($ 6'6
.)889$ %',('?.)(/$ '(.+#)%#$ '($ )88#+,9$ /* 8#(.#$*7$")(6$)(6$7).#$6#+0)/'/'%<$S:%*1 *86#+$;#+%*(%<$i"#($%#(%'/'H)/'*($+)/#%$/*
.*%0#/'.$ ),#(/%$ *>#+$ /"#$ /'0#$ '(/#+>)8 84/#$;+#>)8#(.#$6)/)$*($7).')8$)(6$#9#8'6 %/)(6)+6$ )88#+,#(%$ -#+#$ )()89H#6$ )%$ )
:#/-##($%/46'#%<O 6#+0)/'/'%$ '($ /"#$ ,#(#+)8$ ;*;48)/'*($ '% 74(./'*($ *7$ ),#2$ '(.'6#(.#$ +)/#%$ -#+#
!"#%#$ %)0#$ '(>#%/',)/*+%$ .*0;8#/#6 (*/$ )>)'8):8#2$ "*-#>#+<$ R)/"#+2$ %.)(/ 7*4(6$/*$:#$%',('?.)(/89$8*-#+$'($'(6'>'61
)(*/"#+$ .+*%%1%#./'*()8$ %/469$ '($ /"*%# ;+#>)8#(.#$ 6)/)$ )+#$ )>)'8):8#$ 7+*0$ /#+1 4)8%$*86#+$/")($CE$9#)+%<Ac$i"#($Accc$#81
%)0#$ 9#)+%<$ !"#9$ +)(6*089$ ;)/."1 /')+9$ .)+#$ +#7#++)8$ .#(/#+%2$ -"'."$ +#;+#1 6#+89$%4:M#./%$-'/"$%4%;#./#6$S=Z$-#+#
/#%/#6$ DeC$ ;)/'#(/%$ ),#6$ AD$/*$ eB$ 9#)+% %#(/$ *(89$ );;+*5'0)/#89$ AC$ ;#+.#(/$ *7 .*0;)+#6$/*$)$.*(/+*8$,+*4;$),#6$\E$/*$cE
7+*0$ -#%/#+($ =*;#("),#($ '($ ABBE<$ I( )88$;)/."1/#%/#6$'(6'>'64)8%<$P7$/"#$'(6'1 9#)+%2$/"#$;+#>)8#(.#$*7$)88#+,'.$+#)./'>'/9
ABBG2$/"#9$+#1/#%/#6$OeD$*7$/"#$%)0#$;)1 >'64)8%$ -'/"$ #9#8'6$ 6#+0)/'/'%$ +#7#++#6 -)%$7*4(6$/*$:#$%',('?.)(/89$8*-#+$'($/"#
/'#(/%$ '($ )($ #77*+/$ /*$ *:%#+>#$ '(.'6#(/ 7*+$;)/."$/#%/'(,2$);;+*5'0)/#89$DE$;#+1 #86#+89$ ,+*4;$ .*0;)+#6$ -'/"$ 9*4(,#+
.)%#%<$ P7$ /"#$ '(6'>'64)8%$ -"*$ ;+#>'1 .#(/$ /*$ CD$ ;#+.#(/$ -#+#$ +#;*+/#6$ /* )648/$ ;)/'#(/%$ KcE<C$ ;#+.#(/$ >%<$ cC<G$ ;#+1
*4%89$ ")6$ (#,)/'>#$ ;)/."$ /#%/$ +#%48/%$ '( ")>#$)/$8#)%/$*(#$;*%'/'>#$;)/."$/#%/$+#1 .#(/2$;$r$E<EEEAL<$!"#$.8'('.)8$+#8#>)(.#$*7
ABBE2$ A\$ ;#+.#(/$ %"*-#6$ *(#$ *+$ 0*+# )./'*(<C2G$ [#-$ 6)/)$ )+#$ )>)'8):8#$ 7*+ /"'%$6'77#+#(.#$'%$6#:)/):8#2$"*-#>#+2$)(6
;*%'/'>#$;)/."$/#%/$+#%48/%$K'(.'6#(/$.*(1 %*4+.#1:)%#6$ #;'6#0'*8*,9<$ k<@<$ ;*;41 0)9$+#3#./$)$(##6$/*$0*6'79$/"#$)88#+,#(%
/)./$ )88#+,9L<$ T*/):892$ e$ ;#+.#(/$ )(6$ G 8)/'*($%/46'#%$*7$.*%0#/'.$)88#+,9$;+#>)1 %#8#./#6$ '($ &##;'(,$ -'/"$ ),#1);;+*;+')/#
;#+.#(/$ *7$ /"#$ +#1/#%/#6$ ;)/'#(/%$ -"* 8#(.#$)+#$(#)+89$\E$9#)+%$*86$)(62$,'>#( #5;*%4+#%$ *+$ /*$ )88*-$ )$ 8*(,#+$ /'0#$ :#1
;+#>'*4%89$ ")6$ (#,)/'>#$ ;)/."$ /#%/$ +#1 /"#$69()0'.$()/4+#$*7$;+*64./$6#>#8*;1 /-##($ ;)/."$ +#0*>)8$ )(6$ /"#$ 6#8)9#6
%48/%$ 6#>#8*;#6$ '(.'6#(/$ )88#+,9$ /* 0#(/2$ (*$ 8*(,#+$ ;+*>'6#$ /"#$ 6)/)$ )..41 +#)6'(,<$ S88#+,#(%$ 4%#6$ -'/"$ ,+#)/#+$ 7+#1
('.$)(6$");/#(%$*/"#+$/")($('.R$+#1 +).9$ /"#9$ *(.#$ 6'6<$ P(#$ %/469$ '($ I(6') `4#(.9$ '($ /"'%$ ;*;48)/'*(2$ %4."$ )%$ (#*1
%;#./'>#89<$ [#0)8#$ ,#(6#+2$ 9*4(,$ ),#2 6#0*(%/+)/#6$)$ee$;#+.#(/$+)/#$*7$;*%'1 09.'(2$8)(*8'($)8.*"*8%2$;)+):#($0'52$)(6
)(6$ ;+'*+$ #)+$ ;'#+.'(,$ K:#7*+#$ ABBEL /'>#$+#)./'*(%$/*$.*%0#/'.%$'($;)/."$/#%/1 0#/"98$ 6':+*0*,84/)+*('/+'8#V;"#(*591
-#+#$+'%&$7)./*+%$7*+$/"#$6#>#8*;0#(/$*7 '(,<$ !"#$ )88#+,'.$ '(6'>'64)8%$ /#(6#6$ /* #/")(*8$ KU4598$ fcEEL$ %"*-#6$ )$ "',"#+
('.$)88#+,9<c :#$ 9*4(,$ K0#)($ ),#2$ \C<D$ 9#)+%L2$ -'/" %#(%'/'H)/'*($ +)/#$ '($ #86#+89$ ;)/'#(/%$ /")(
I($)$k('/#6$@/)/#%Y:)%#6$%/4692$!#01 6#+0)/'/'%$ )77#./'(,$ /"#$ 7).#2$ (#.&2$ )(6 '($9*4(,#+$)648/$;)/'#(/%AD$K[',<$AO1OL<
;8#/2$ n)882$ )(6$ _#8%'/*$ (*/#6$ /")/$ ")(6 %.)8;<$ [+),+)(.#%2$ ;+#%#+>)/'>#%2$ )(6
6#+0)/'/'%$ -)%$ *(#$ *7$ /"#$ 0*%/$ 7+#1 ;)+)1;"#(98#(#6')0'(#$ KbbZL$ -#+#$ /"# :=0B=D(,0B(',E=
`4#(/89$ .'/#6$ +#)%*(%$ 7*+$ +#7#++)8$ /*$ ) 0*%/$.*00*($;+*>*.)/'>#$),#(/%<B
;)/."1/#%/'(,$ .#(/#+<$ P7$ /"#$ AEOc$ ;)1 a#(6#+$ 6'77#+#(.#%$ '($ /"#$ 6#>#8*;0#(/
/'#(/%$ -"*$ ")6$ :##($ ;)/."1/#%/#6$ *>#+ #1= *7$ S=Z$ )+#$ 8)+,#89$ 4(&(*-(2$ :#.)4%#
)($ G19#)+$ ;#+'*62$ O\$ ;#+.#(/$ ")6$ ")(6 7#-$%/46'#%$")>#$8**$)/$'(64./'*($*7
6#+0)/'/'%p$ Dc$ ;#+.#(/$ -#+#$ 6'),(*%#6 S8/"*4,"$/"#$%4:M#./$*7$S=Z$'($;#6')/+'. %#(%'/'H)/'*($'($0#($)(6$-*0#($4(6#+
-'/"$S=Z2$-"#+#)%$*(89$\C$;#+.#(/$+#1 ;)/'#(/%$ ")%$ +#.#'>#6$ %4:%/)(/')8$ )//#(1 .*(/+*88#6$.'+.40%/)(.#%<$i"#($/"#$"41
.#'>#6$)$6'),(*%'%$*7$I=Z<$S$,#(6#+$6'71 /'*($ '($ U4+*;#2$ '/$ ")%$ (*/$ #(M*9#6$ /"# 0)($+#;#)/1'(%48/$;)/."1/#%/'(,$ 0#/"*6
7#+#(.#$ -)%$ %##(N$ /"#$ ;#)&$ ;+#>)8#(.# %)0#$ 8#>#8$ *7$ )//#(/'*($ '($ T*+/"$ S0#+1 -)%$4%#6$/*$)%%#%%$'(64./'*($+)/#%$7*+$AE
'($0#($-)%$'($/"#$?7/"$6#.)6#2$-"#+#)% '.)<$ Z#%;'/#$ /"'%2$ )0;8#$ #>'6#(.#$ %4,1 .*00*($)88#+,#(%2$-*0#($ -#+#$ 7*4(6
(*$ %;#.'?.$ ;#)&$ -)%$ %##($ '($ -*0#(<D ,#%/%$ /")/$ #>#($ 9*4(,$ ."'86+#($ ")># /*$ :#$ 0*+#$ *7/#($ %#(%'/'H#6$ /*$ C$ *7$ /"#
!7#
")%$ )$ ,#(#/'.$ .*0;*(#(/<$ R#%#)+."$ ")% #5)0;8#2$)$;)/'#(/$-"*$")%$)$,#*0#/+'.
(*-$ 8'($ /"#$ ;+#%#(.#$ *7$ %;#.'?.$ "41 *+$ ;)//#+(1%;#.'?.$ 6#+0)/'/'%$ )7/#+$ )(
0)($8#4&*.9/#$)(/',#($)88#8#%$/*$)88#+,9$/* #5;*%4+#$/*$)($#5*,#(*4%$),#(/$%"*486
('.R$."+*0'402$)(6$.*:)8/<\\2\O :#$ %4%;#./#6$ *7$ ")>'(,$ S=Z<$ I($ )66'1
!*$ 0*4(/$ )($ '004(#$ +#)./'*($ /*$ )( /'*(2$/"#$6'),(*%'%$%"*486$:#$.*(%'6#+#6
)88#+,#(2$ /"#$ '(6'>'64)8$ 04%/$ :#$ ,#(#/'1 '($ '(6'>'64)8%$ -"*%#$ 6#+0)/'/'%$ '%$ ;#+1
.)889$ %4%.#;/':8#2$ ")>#$ %47?.'#(/$ .*(/)./ %'%/#(/$ 6#%;'/#$ );;+*;+')/#$ %/)(6)+6
-'/"$ )$ %#(%'/'H'(,$ ."#0'.)82$ )(6$ /"#( /"#+);'#%<$!"'%$)8%*$;#+/)'(%$ /*$ ;)/'#(/%
")>#$ +#;#)/#6$ .*(/)./$ -'/"$ /"#$ %4:1 -'/"$ .*(7*4(6'(,$ %&'($ 6'%*+6#+%2$ %4."
%/)(.#$8)/#+<$!"'%$'%$'($6'%/'(./'*($/*$I=Z2 )%$ )/*;'.$ 6#+0)/'/'%$ )(6$ ;%*+')%'%2$ -"*
'($-"'."$(*$'004(*8*,'.$+#)./'*($/)&#% ")>#$.8)%%'.$;+#%#(/)/'*(%<
;8).#$)(6$/"#$'(/#(%'/9$*7$/"#$+#)./'*($'%
;+*;*+/'*()8$/*$/"#$6*%#$*7$/"#$."#0'.)8
!>0ACDJEC@>0(>I(C<=(&]F>AJD=(5>0C,1=
);;8'#6$ K-"'."$ '%$ 6'+#./89$ +#8)/#6$ /*
."#0'.)8$ .*(.#(/+)/'*(2$ 64+)/'*($ *7$ #51 @#(%'/'H)/'*($ )(6$ %4:%#`4#(/$ #8'.'/)/'*(
;*%4+#2$)(6$,#(#+)8$%&'($'(/#,+'/9L< *7$ )$ 6#+0)/'/'%$ )+#$ )$ 6'+#./$ .*(%#`4#(.#
!"4%$ S=Z$ '%$ )$ %9%/#0'.$ 6'%#)%#$ 6#1 *7$ #5;*%4+#$ /*$ )$ %;#.'?.$ ."#0'.)8$ '($ )
?(#6$ :9$ ");/#(1%;#.'?.$ !$ .#88Y0#6')/#6 %4%.#;/':8#$;#+%*(<$!"#+#$)+#$0)(9$>)+'1
%&'($ '(3)00)/'*($ )(6$ .")+)./#+'H#6$ :9 ):8#%$/")/$7)./*+$'(/*$/"#$%4%.#;/':'8'/9$*7
/"+##$;")%#%N$%#(%'/'H)/'*(2$#8'.'/)/'*(2$)(6 )$,'>#($'(6'>'64)8<$[*+$#5)0;8#2$)($)8/#+1
+#%*84/'*(<\c$ I($ /"#$ %#(%'/'H)/'*($ ;")%#2 )/'*($'($/"#$'("#+#(/$%&'($:)++'#+$74(./'*(
/012345!767 #HH=D1@E( E>0C,EC( B=D-,C@C@A( C> 8*-10*8#.48)+1-#',"/$#8#./+*;"'8'.$*+$"91 *+$ +#;)'+$ 0#.")('%02$ -"'."$ 0)9$ :#$ )71
,-@0>1HOE>A@B=( ,0C@Q@>C@EA.( %<=( F,C@=0C( JA=B( , 6+*;"'8'.$ ");/#($ ."#0'.)8%$ K4%4)889$ 8#%% 7#./#6$:9$,#(#/'.%2$),#2$,#(6#+2$.4%/*0%2
0=>-OE@0ME>0C,@0@01( C>F@E,H( ,0C@Q@>C@E( ,0B( ,( C>M /")($DEE$/*$AEEE$6L$;#(#/+)/#$/"#$%&'($)(6 )(6$;%9."*%*.')8$'(34#(.#%2$.)($'(.+#)%#
QD,-OE@0ME>0C,@0@01(=O=BD>F. 7*+0$");/#(1;+*/#'($.*0;8#5#%$-'/"$#;'1 /"#$ ;+#6'%;*%'/'*(<$ !"#$ ,#*,+);"'.$ 8*.)1
6#+0)8$.)++'#+$;+*/#'(%2$-"'."$;+*64.#%$) /'*($'($-"'."$/"#$;)/'#(/$+#%'6#%$0)9$)8%*
AE$ )88#+,#(%$ %/46'#6<Ae$ I($ 0)5'0'H)/'*( .*0;8#/#$ )88#+,#(<$ !"#%#$ :'(6'(,$ ;+*1 :#$ '0;*+/)(/2$ :#.)4%#$ '/$ 0)92$ 7*+$ #5)01
%/46'#%$/")/$8**$)/$)88#+,#(%$*7$6'77#+1 /#'(%$ )+#$ 8'Y$ .#88$ %4+7).#$ 0*8#.48#%$ *( ;8#2$'(.+#)%#$/"#$;+*:):'8'/9$*7$#(.*4(/#+1
#(/$;*/#(.'#%2$-*0#($+#)./#6$0*+#$7+#1 /"#$W)(,#+")(%$.#882$%4."$)%$.8)%%$I$)(6$II '(,$+#,'*(1%;#.'?.$:*/)('.)8$)88#+,#(%<$['1
`4#(/89$/*$/"#$-#)&#%/$%#(%'/'H#+%<AC 0)M*+$"'%/*.*0;)/'8':'8'/9$.*0;8#5$0*8#1 ()8892$ '(.'6#(/)8$ +)(6*0$ #5;*%4+#%$ 04%/
!"#$+*8#$*7$+).#2$'7$)(92$'($/"#$6#>#8*;1 .48#%<$ [*+$ )$ 6#/)'8#6$ 6#%.+';/'*($ *7$ /"# :#$ .*(%'6#+#6p$ 7*+$ '(%/)(.#2$ )$ [8*+'6')(
0#(/$*7$S=Z$/*$;*/#(/$)88#+,#(%$%4."$)% 0#.")('%0%$ '(>*8>#6$ '($ /"#$ ,#(#+)/'*( 7)0'89s%$ #5.4+%'*($ /*$ ;*'%*($ '>9Y8)6#(
6'('/+*."8*+*:#(H#(#$ ;)+);"#(98#(#6'1 )(6$;#+;#/4)/'*($*7$S=Z2$%##$=");<$AE< b#((%98>)(')<$!"4%2$'/$0)9$:#$.*(%'6#+#6
)0'(#$ +#0)'(%$ .*(/+*>#+%')8<AG2AB$ a*" !"#$8'(&),#$:#/-##($");/#(%$)(6$#;'1 /")/$ 7*+$ #>#+9$ ."#0'.)8$ /"#+#$ '%$ )$ ;+#6#1
7*4(6$ (*$ 6'77#+#(.#%$ '($ /"#$ '(.'6#(.#$*7 6#+0)8$ ;+*/#'(%$ '%$ 4%4)889$ .*>)8#(/2$ )81 /#+0'(#6$6*%#$K/"+#%"*86$*7$%#(%'/'H)/'*(L
S=Z$)0*(,$/"#$'(6',#(*4%$KF)8)92$="'1 /"*4,"$0#/)88'.$");/#(%$0)9$7*+0$%/):8# '($ #>#+9$ ;#+%*($ /")/$ 4(6#+$ *;/'0)8$ .'+1
(#%#2$)(6$I(6')(L$%4:1;*;48)/'*(%$'($@'(1 (*(.*>)8#(/$ 8'(&),#%$ -'/"$ .)++'#+$ ;+*1 .40%/)(.#%$ .*486$ ;*/#(/')889$ +#%48/$ '(
,);*+#<\E$ W'0'/#6$ %/46'#%$ %4,,#%/$ 8*-#+ /#'(%2$ %4."$ )%$ .*:)8/$ '($ >'/)0'($ _A\<\D %#(%'/'H)/'*($ )(6$ /"#$ %4:%#`4#(/$ .8'('.)8
%#(%'/'H)/'*($ +)/#%$ /*$ ('.$)(6$(#*091 @*0#$ *7$ /"#%#$ ");/#($ ."#0'.)8%$ )+#$ (*/ *4/.*0#$*7$S=Z<
.'($'($S7+'.)($S0#+'.)(%$/")($'($=)4.)1 '("#+#(/89$ )88#+,#('.$ K;+*1");/#(%L$ )(6
%')(%<Ac$I($)66'/'*(2$#+9/"#0)$#>)84)/'*( 04%/$ 4(6#+,*$ 0#/):*8'.$ :'*/+)(%7*+0)1
"@AC>DO(%,?@01
:#.*0#%$ '(.+#)%'(,89$ 6'7?.48/$ -'/"$ )%1 /'*($/*$:#$):8#$/*$;)+/'.';)/#$'($)($)88#+,'.
.#(6'(,$*+6#+$'($['/H;)/+'.&s%$%&'($/9;'(,2 +#%;*(%#<\e$_#.)4%#$/"#$%&'($")%$%4:%/)(1 !"#$ ;)+)6*5$ *7$ ;)/."$ /#%/'(,$'%$ /"#$ 6#1
-"'."$ 0)&#%$ /"'%$ #>)84)/'*($ >)+'):8# /')8$ 0#/):*8'.$ .);):'8'/'#%2$ '(.846'(, .#;/'>#$ %'0;8'.'/9$ *7$ );;8'.)/'*($ >#+%4%
)(6$ +#`4'+#%$ /")/$ ,+#)/#+$ '0;*+/)(.#$ :# 0)(9$;")%#$I$)(6$;")%#$II$#(H90#%2$%4." /"#$ +#`4'+#6$ #5;#+/'%#$ (#.#%%)+9$ 7*+$ )81
,'>#($ /*$ .")(,#%$ '($ #6#0)$ )(6$ '(64+)1 :'*/+)(%7*+0)/'*($ 0)9$ *..4+$'($/"#$ %&'( 8#+,#($ %#8#./'*($ )(6$ '(/#+;+#/)/'*($ )(6
/'*(<$S66'/'*()8$%/46'#%$ #>)84)/'(,$ +).')8 )/$ /"#$ %'/#$ *7$ .*(/)./$ -'/"$ /"#$ ."#0'.)8< +#.*,('/'*($*7$.8'('.)8$%',('?.)(.#<\C$U51
'(34#(.#%$ *($ '004(*8*,'.$ )(6$ (*('01 !"#$ '0;*+/)(.#$ *7$ /"#$ +#8)/'*(%"';$ :#1 ;#+/'%#$ '($ ;)/."$ /#%/'(,$ %/)+/%$ -'/"$ *:1
04(*8*,'.$ K#<,<2$:)++'#+$ 74(./'*(L$ 7)./*+% /-##($ /"#$ .)++'#+$ )(6$/"#$");/#($ .)((*/ /)'('(,$)$.*0;+#"#(%'>#$048/'19#)+$"'%1
)(6$#/"('.$'(34#(.#%$)77#./'(,$S=Z$6#1 :#$ 4(6#+#%/'0)/#62$ :#.)4%#$ ;*/#(/$ .*(1 /*+9$ 7+*0$ /"#$ ;)/'#(/$ +#,)+6'(,$ /"#
>#8*;0#(/$)+#$(##6#6< /)./$%#(%'/'H#+%2$-"#($.*0;8#5#6$/*$(*(1 ;+#%#(/$'88(#%%<$S($)8,*+'/"0'.$);;+*)."
'004(*,#('.$ .)++'#+%2$ .)($ '(64.#$ /*8#+1 '%$ ),)'($ (#.#%%)+9<$ I(7*+0)/'*($ +#,)+61
)(.#$+)/"#+$/")($%#(%'/'H)/'*(< '(,$/"#$;)/'#(/s%$6#0*,+);"'.$.")+)./#+1
&%73;3:j(#89($#%"3:&8&+7+ '%/'.%2$ ;#+%*()8$ )(6$ 7)0'89$ 0#6'.)8$ "'%1
S=Z$ +#;+#%#(/%$ )$ 6#8)9#6$ K/9;#$ IoL$ "91 /*+'#%2$ )(6$ *..4;)/'*()8$ )(6$ "*0#
;#+%#(%'/'>'/9$ +#)./'*($ /*$ /"#$ *>#+$ OCEE !;787!#;(#$$'3#!" #(>'+*(0#(/2$ )%$ -#88$ )%$ )$ 6#+0)/'/'%1
#5*,#(*4%$ ."#0'.)8%$ /")/$ ")>#$ :##($ 6#1 S($ )8,*+'/"0'.$ );;+*)."$ /*$ /"#$ ;)/'#(/ %;#.'?.$ "'%/*+9$ '(.846'(,$ ;+'*+$ 4%#$ *7
%.+':#6$ /*$ ;+*>*&#$ /"'%$ +#)./'*(<\A$ _#1 '%$6#%.+':#6$'($/"#$7*88*-'(,$%#./'*(%< *>#+1/"#1.*4(/#+$)(6$;+#%.+';/'*($0#6'1
.)4%#$ /"'%$ +#;+#%#(/%$ )$ /+4#$ )88#+,9$ -'/" .)/'*(%$04%/$:#$*:/)'(#6$K!):8#$AO1\L<
'004(*8*,'.$%#`4#8)#2$*(89$0'(4/#$`4)(1
!>0A@B=D,C@>0(>I(C<=(9@,10>A@A
/'/'#%$*7$)$,'>#($."#0'.)8$)+#$(#.#%%)+9$/*
70G=AC@1,C@>0(>I(&]F>AJD=($,CC=D0A
#8'.'/$ *>#+/$ )88#+,'.$ +#)./'*(%<$ U>'6#(.# S=Z$%"*486$:#$.*(%'6#+#6$'($/"#$6'77#+1
6)/'(,$:).&$/*$/"#$ABcE%$'(6'.)/#%$/")/$/"# #(/')8$ 6'),(*%'%$ *7$ )$ -'6#$ +)(,#$ *7$ #.1 b)//#+(%$ *7$ #5;*%4+#$ 6'+#./$ /"#$ ;"9%'1
):'8'/9$ /*$ :#$ %#(%'/'H#6$ /*$ %;#.'?.$ ),#(/% H#0)/*4%$ 6#+0)/*%#%$ K_*5$ AO1AL<$ [*+ .')($ /*$ /"#$ 8'Y$ .)4%#K%L$ *7$ /"#$ #+4;1
!7-
#+,&'*)' !"#$%&'*)(
C'II#.#(-'G2)C'G3(%/'/)%I)-"#)6+O#$G-%J/)C#.$G-%/#/ 5'/-%.4)=G&'(3)'()B22#.3'+)
!%(-G+-)C#.$G-'-'/
E0//434HS0CN 14Z13CP\0$6XZ3P\ZNZ10$
E0C1HZ[0[ E0[S30O2S0ZH E0C1HZ[S0$5$N24[ 9=->1D,F<@EA #1=S(1=0B=DS(D,E=S(=C<0@EM
,0B(>EEJF,M @COS(D=H@1@>0S(A>E@,H(,AF=ECA(
#HH=D1@E(E>0C,EC( &EP=-,C>JAS(AE,HO(=B=-,C>JA( $D@-,DO(H=A@>0A(@0(B@ACD@QJC@>0( C@>0,H(<@AC>DO T-,D@C,H(AC,CJAUS(c>Q(C@CH=S(
B=D-,C@C@A FH,fJ=A(/@C<(G=A@EJH,C@>0 >I(E>0C,EC,0CZ(FDJD@CJA c>Q(B=AED@FC@>0S(D=1JH,D(
#AC=>C@E(B=D-,C@C@A !D,E?H=B(F,DE<-=0CMH@?=( ;>/=D(H=1A ,0B(>EE,A@>0,H(E<=-@E,H(
F,CE<=AS(,QA=0C(=B=-,(,0B( =]F>AJD=A(,0B(A>JDE=AS(
G=A@EJH,C@>0 H>E,C@>0(>I(=-FH>O-=0CS(
#C>F@E(B=D-,C@C@A &EP=-,C>JAS(<>0=OMEDJAC=BS( 4H=]JD,H(,D=,A(@0(E<@HBD=0(,0B( C@-=(,C(EJDD=0C(c>QS(FD=G@M
AE,H=B(FH,fJ=AZ(E<D>0@E(H=A@>0A( 0=E?(FD=B>-@0,0E= >JA(>EEJF,C@>0A
-,O(Q=(H@E<=0@K=B
#JC>A=0A@C@P,C@>0 &EP=-,C>JAS(F>>DHO(B=K0=B( "@AC>DO(>I(E<D>0@E(B=D-,C@C@A(>D( 4,-@HO(-=B@E,H( :=0=C@E(I,EC>DAS(FD=B@AM
D=,EC@>0 F,CE<=A(>I(G=A@EJH,C@>0 @0I=EC@>0(/@C<(0=/(/@B=AFD=,BS( <@AC>DO F>A@C@>0A
H=AAMB=K0=B(F,CE<=A $=DA>0,H(-=B@M 9DJ1(,HH=D1@=AS(E>0E>-@M
9OA<@BD>C@E(=EP=-, 9==FMA=,C=B(F,FJH>G=A@EH=A(>0( $,H-(,0B(A>H=(COF@E,HHO(B>DA,H( E,H(<@AC>DO C,0C(B@A=,A=AS(-=B@E,M
F,H-,DMFH,0C,D(AJDI,E=A(,0B( @0G>HG=-=0C C@>0AS(AJD1=D@=A
G>H,D(=B1=A
9=D-,C@C@AM 30A=CS(H>E,C@>0S(C=-F>M
7DD@C,0C(E>0C,EC( +<,DFHO(B=-,DE,C=B(-,EJH,D( YJD0@01(=]E==BA(@CE<@01
AF=E@KE(<@AC>DO D,H(,AA>E@,C@>0A(T/,]@01Ah
B=D-,C@C@A =DOC<=-,S(<OF=D?=D,C>A@AS(
/,0@01AUS(CD=,C-=0CA
,QA=0E=(>I(G=A@EJH,C@>0
5OE>A@A(IJ01>@B=A( $>>DHO(B=-,DE,C=BS(,CD>F<@ES( %>DA>(FD=B>-@0,0E=
TF,CE<(C>(FH,fJ=( AE,HO(F@0?(F,CE<=A(,0B( .)0'6*;+*;98$ :#/)'(#$ )%$ )88#+,#($ *7$ /"#
AC,1=U FH,fJ=A 9#)+$:9$/"#$S0#+'.)($=*(/)./$Z#+0)/'/'%
8J--JH,D(B=D-,C@C@A !>@0MA<,F=BS(/=HH(B=-,DE,C=B( ;=1AS(B>DA,H(<,0BAS(=]C=0A>D( @*.'#/9<$S8/"*4,"$/"#+#$)+#$'("#+#(/$8'0'1
FH,fJ=A(/@C<(AE,H=(,0B(G=A@EJM AJDI,E=A /)/'*(%$)(6$:')%#%$'($/"#$6)/)$/+).$:9
H,C@>0Z(G,D@,QHO(=]JB,C@G= /"#$ 0#0:#+%$ *7$ /#+/')+9$ +#7#++)8$ ,+*4;%
$A>D@,A@A +<,DFHO(B=-,DE,C=B(F,FJM +E,HFS(D=CD>M,JD@EJH,D(,D=,S( /")/$ +#;*+/$ #;'6#0'*8*,'.$ 6)/)2$ /"#$ '01
H>AfJ,->JA(FH,fJ=A(/@C<(0>( =HQ>/AS(?0==AS(1=0@C,H@,S(0,@HAZ( ;*+/)(.#$*7$/"#%#$6)/)$.)((*/$:#$*>#+#01
G=A@EJH,C@>0 FD=B>-@0,0E=(@0(,D=,A(>I( ;")%'H#62$ :#.)4%#$ /"#9$ )8%*$ '(.+#)%#
CD,J-,(T6>=Q0=D@P,C@>0UZ(FJAM )-)+#(#%%$ *7$ +'%'(,$ ."#0'.)8$ )88#+,'#%
CJH=A(-,O(Q=(,EJC=HO(FD=A=0CS( ;+#>'*4%89$/"*4,"/$/*$:#$+)+#$K#<,<2$/*$.*+1
F,DC@EJH,DHO(>0(F,H-A(,0B( /'.*%/#+*'6%2$,*862$)(6$)0'6#$)(#%/"#/'.%L<$
A>H=AZ(E>0E>-@C,0C(,DC<D@C@A
+=Q>DD<=@E(B=D-,C@C@A $,FJH>AfJ,->JA(1D=,AOS( ",@DMQ=,D@01(D=1@>0AS(1H,Q=HH,S( !;787!#;(5#874&+%#%738+
AE,HO(FH,fJ=A ,0B(0,A>H,Q@,H(I>HBA
+C,A@A(B=D-,C@C@A $,FJH>AfJ,->JA(FH,fJ=A(/@C<( +<@0A(,0B(-=B@,H(AJDI,E=AS( !JC,0=>JA(4@0B@01A
BOAE<D>-@, H>/=D(H=1AS(E>0E>-@C,0C(G,D@M
a'>#($/"#$ -'6#$)++)9$*7$;*/#(/')8$)88#+1
E>A@C@=A
,#(%$)(6$/"#$'("#+#(/$4('`4#(#%%$*7$#>1
4D>- '@=CAE<=H(';n(!HJ=A(C>(,0(,EEJD,C=(B@,10>A@A(>I(E>0C,EC(B=D-,C@C@A.(2("#%0+3$4'(" !#n**[S(*NN[. #+9$ ;#+%*(s%$ %&'(2$ '/$ %/)(6%$ /*$ +#)%*(
/")/$ /"#+#$ %"*486$ :#$ )($ #`4)889$ -'6#
>)+')/'*($ '($ /"#$ .8'('.)8$ ;+#%#(/)/'*($ *7
/'*(<$ P(#$ 04%/$ (*/$ *(89$ .*(%'6#+$ /"# 0*%/$ 8'Y$ %4:%/)(.#%$ :4/$ )8%*$ /*$ '(1 S=Z<$n*-#>#+2$.#+/)'($)%;#./%$)+#$8#%%
;*/#(/')8$#5;*%4+#$>)+'):8#%$7*+$#)."$;)1 .846#$"',"1;+*:):'8'/9$)8/#+()/'>#%< >)+'):8#$)(6$/#(6$/*$7*88*-$+)/"#+$+#;+*1
/'#(/$:4/$)8%*$04%/$.+*%%1+#7#+#(.#$/"#%# P7$(*/#2$#)."$)8,*+'/"0$'%$)%$%;#.'?.$/* 64.':8#$;)//#+(%<$I($,#(#+)82$*(.#$%#(%'1
)88#+,#($#5;*%4+#%$/*$)++'>#$)/$/"#$0*%/ /"#$;)/'#(/$)%$/"#$;)/'#(/s%$#(>'+*(0#(/$'% /'H)/'*($ ")%$ :##($ #%/):8'%"#62$ ).4/#
8'Y$ %4%;#./$ )88#+,#($ 8'%/$ 7*+$ /")/$ '(6'1 /*$"'0$*+$"#+<$b*/#(/')8$(#-$)88#+,#(%$)+# S=Z$ ;+*,+#%%#%$ 7+*0$ #+9/"#0)$ /*
>'64)8<$S%$)$.)%#$'($;*'(/2$)$;)/'#(/$-'/" 7+#`4#(/89$ #(/#+'(,$ /"#$ '(6'>'64)8s%$ '01 #6#0)$/*$;);48*>#%'.48)/'*(2$-'/"$#%.)1
)$ ;#+%'%/#(/$ ;*%/Y")'+$ 69#$ ")'+8'(#$ )(6 0#6')/#$)(6$,8*:)8$#(>'+*(0#(/<$[*+$#51 8)/'(,$+#%;*(%#%$K%##$[',%<$AO1\$)(6$AO1OL<
#9#8'6$6#+0)/'/'%$%"*486$:#$'(>#%/',)/#6 )0;8#2$:#/)'(#$6#/#+,#(/$/#."(*8*,9$-)% P(#$#5.#;/'*($0)9$:#$/"#$)+#)%$*7$/"'(
7*+$ .4++#(/$ 4%#$ *7$ ")'+$ 69#$ ;+*64./%2 ?+%/$ '(.*+;*+)/#6$ '(/*$ ;#+%*()8$ .)+#$ )(6 %&'($-'/"$"',"#+$):%*+;/'*($.*#7?.'#(/%2
:8).&$ "#(()$ /)//**$ ;+#;)+)/'*(%2$ ;)+)1 "9,'#(#$;+*64./%$K#<,<2$8*-1'++'/)(.9$:):9 %4."$ )%$ /"#$ #9#8'6%2$ 04.*%)8$ %4+7).#%2
)0'(*:#(H*'.$ ).'6Y:)%#6$ %4(%.+##(%2 %")0;**L$'($/"#$8)/#$ABeE%<$I($ABGO2$/"# )(6$ ,#('/)8')<$ !"#%#$ )+#)%$ 0)9$ `4'.&89
#%/#+$ )(#%/"#/'.%2$ )(6$ .+*%%1+#)./'(, ?+%/$ .)%#$ *7$ .*.)0'6*;+*;98$ :#/)'(#$ )81 :#.*0#$#6#0)/*4%2$-"'."$8#)6%$/"#$'(1
0#6'.)/'*(%$ K#<,<2$ "96+*."8*+*/"')H'6#2 8#+,9$ -)%$ (*/#6p$ %'(.#$ /"#($ /"#+#$ ")% 6'>'64)8$ /*$ )>*'6$ :#")>'*+%$ *+$ /*$ %##&
%487*(984+#)%2$)(6$.9.8**59,#()%#$\$'(1 :##($ )($ 4;-)+6$ /+#(6$ /*-)+6$ '/%$ #>#+1 0#6'.)8$ )//#(/'*(2$ )(6$ /"4%$ /"#$ 0*+#
"':'/*+%L<$ [4+/"#+0*+#2$ )$ \19#)+1*86 '(.+#)%'(,$ '(.84%'*($ '($ ;#+%*()8$ .)+# 6#>#8*;#6$ %/),#$ 0)9$ :#$ '(/#++4;/#6<
-'/"$ .*(.*0'/)(/$ ")(6$ )(6$ 7).')8$ 6#+1 ;+*64./%<\G$S80*%/$/-*$6#.)6#%$8)/#+2$/"# @#.*(62$S=Z$4%4)889$*..4+%$'($/"#$6'%1
0)/'/'%$-*486$0*+#$8'Y$:#$%#(%'/'H#6 '(.+#)%'(,$ '(.'6#(.#$ *7$ .*.)0'6*;+*;98 /+':4/'*($*7$/"#$.*(/)./)(/<$[*+$#5)0;8#2
/*$ :)8%)0$ *7$ b#+4Y:)%#6$ 7+),+)(.#%$ *+ :#/)'(#$ )88#+,9$ 8#6$ /*$ /"#$ '(.84%'*($ *7 )($)+0$/")/$")%$:+4%"#6$),)'(%/$;*'%*(
;+#%#+>)/'>#%$'($:):9$-)%"#%$)(6$6');#+ /"'% )88#+,#($ '($ .*0;+#"#(%'>#$ %/)(6)+6 '>9$ 0)9$ 6#0*(%/+)/#$ )$ 8'(#)+$ >#%'.48)+
:)80%<$ I/$ '%$ '0;*+/)(/$ /*$ 7*.4%$ *($ /"# %.+##('(,$/+)9%$)(6$/"#$6#%',()/'*($*7$.*1 #6#0)/*4%$ ;8)`4#<$ I($ %'/4)/'*(%$ '(
!7.
-"'."$ /"#$ )88#+,#($ #5;*%4+#$ '%$ ;#+%'%1 ;#+%*()8$"9,'#(#$;+*64./%$)(6$.*%0#/1
/#(/2$ "*-#>#+2$ 8'."#('?.)/'*($ )(6$ %.)8# '.%$ K7+),+)(.#%2$ #048%'?#+%2$ ;+#%#+>)1
;+#6*0'()/#<$=*(.4++#(/$-'/"$/"'%$#>*1 /'>#%L2$ )$ -'6#$ +)(,#$ *7$ )88#+,#(%$ 04%/
84/'*($ .*0#%$ /"#$ ;*%%':'8'/9$ *7$ 0*+# :#$ .*(%'6#+#6<$ o#"'.8#1:)%#6$ ;+#%#+>)1
-'6#%;+#)6$ #+4;/'*(%$ '($ (*(16'%/'(./ /'>#%$ )+#$ )$ %',('?.)(/$ %*4+.#$ *7$ 7).')8
;)//#+(%<$ a'>#($ /"'%2$ #)+89$ 6'),(*%'%$ '% 6#+0)/'/'%<
*7$4/0*%/$'0;*+/)(.#<
H4$: W'&#$ /"#$ 7).#2$ /"#$ (#.&$ '%$ %4:M#./
/*$ (40#+*4%$ 6'+#./$ #(>'+*(0#(/)8$ #(1
5>DF<>H>1@E(#FFD>,E< .*4(/#+%$ )%$ -#88$ )%$ '(6'+#./$ #5;*%4+#
7+*0$ /"#$")(6%<$a'>#($ /"#$+#;#)/#6$ '(1
P(.#$)$.*0;+#"#(%'>#$"'%/*+9$")%$:##(
%48/$ 7+*0$ )$ -'6#$ >)+'#/9$ *7$ 7+),+)(.#1
*:/)'(#62$/"#$%#.*(6$%/#;$'%$)$.*0;8#/#
:)%#6$ ."#0'.)8%$ K;#+740#2$ #)4$ 6#$ /*'1
6#+0)/*8*,'.$)%%#%%0#(/$*7$/"#$;)/'#(/<
8#//#2$ %.#(/%L2$ /"#$ (#.&$ )(6$ -+'%/%$ )+#
!"'%$ '%$ #%;#.')889$ "#8;748$ :#.)4%#$ /"#
#%;#.')889$ ;+*(#$ /*$)(6$0)9$#>#(/4)889
;)/'#(/$0)9$:#$)-)+#$*7$*(89$/"#$0*%/
6#>#8*;$)$.$31&E-$$6#+0)/'/'%$K.$31&E-$$'%
;+*0'(#(/$%'/#$*7$6#+0)/'/'%2$)(6$)$.*(1
[+#(."$ 7*+$ g/+'(&#/18'h$ )(6$ +#7#+%$ /*
.4++#(/$6#+0)/'/'%$)/$ )$+#0*/#$%'/#$0)9
/"#$ ;#(6)(/18'&#$ ;',0#(/)/'*($ %##($ *( /012345!769 #HH=D1@E( E>0C,EC( B=D-,C@C@A( C>
;+*>'6#$ '(/#,+)8$ .84#%$ /*$ /"#$ 6'),(*%'%<
/"#$ (#.&$ )(6$ ."#%/L<$ F#/)8$ )88#+,9$ 0)9
f(*-8#6,#$*7$/"#$%");#2$.")+)./#+2$)(6 ,=D>A>H( B=>B>D,0C.( %<@A( F,C@=0C( /,A( ,HH=D1@E( C>
0)('7#%/$)%$."+*('.$6#+0)/'/'%$7+*0$#51
8*.)/'*($*7$/"#$6#+0)/'/'%$"#',"/#(%$/"# ;OD,H.
;*%4+#$ /*$ (#.&8).#%$ )(6$ M#-#8+9$ .8)%;%
;+*:):'8'/9$/")/$/"#$.48;+'/$)88#+,#($-'88
/")/$.*(/)'($('.$*+$.*:)8/<
:#$)..4+)/#89$."*%#($7*+$/#%/'(,<
")(6%$)+#$*4+$0*%/$'0;*+/)(/$/**8%$'($*4+
SZ3[Z !"#$ +#8)/'>#89$ ;+*/#./#6$ .*(6'1 '(/#+)./'*(%$ -'/"$ /"#$ #(>'+*(0#(/<$ I(
'=1@>0,H(9=D-,C@C@A(#H1>D@C<- /'*($*7$/"#$/*+%*$)8/#+%$/"#$8'%/$*7$;*/#(1 7)./2$ ")(6$ 6#+0)/'/'%$ .)($ )..*4(/$ 7*+$ )%
/')8$ )88#+,#($ %*4+.#%<$ S8/"*4,"$ '/$ )8%* 04."$)%$GE$;#+.#(/$*7$/"#$*..4;)/'*()889
[$CNP Z#%;'/#$/"#$,+#)/$;*/#(/')8$7*+$)81 #(.*4(/#+%$ /"#$ 7+),+)(.#%2$ ;+#%#+>)1 +#8)/#6$%&'($6'%#)%#%2$#%;#.')889$'($.#+/)'(
8#+,#($#5;*%4+#2$/"#$%.)8;$+#0)'(%$+#8)1 /'>#%2$ )(6$ 6#/#+,#(/%$ *7$ 6)'89$ ;#+%*()8 g-#/$ -*+&h$ *..4;)/'*(%$ K"#)8/"$ .)+#2
/'>#89$ +#%'%/)(/$ /*$ )88#+,'.$ 6#+0)/'/'%< "9,'#(#$ ;+*64./%$ K:*69$ -)%"#%2$ %*);%2 7**6$")(68'(,2$.*%0#/*8*,92$#/.<L<OE$=)+#1
b*%%':8#$+#)%*(%$7*+$/"'%$6#.+#)%#6$+#).1 8*/'*(%L2$ '/$ '%$ )8%*$ %4%.#;/':8#$ /*$ /#5/'8# 748$.*(%'6#+)/'*($%"*486$:#$,'>#($/*$*..41
/'>'/9$ 0)9$ :#$ '(.+#)%#6$ %&'($ /"'.&(#%%2 )88#+,#(%$ K69#%$ )(6$ 7*+0)86#"96#$ +#%1 ;)/'*(1%;#.'?.$ #5;*%4+#%$ '($ /"#$ #>)84)1
)8/#+)/'*(%$ '($ .#8848)+$ 0'8'#4$ :#.)4%#$ *7 '(%<L$!"#$0*%/$%',('?.)(/$/#5/'8#1)%%*.'1 /'*($ *7$ ")(6$ 6#+0)/'/'%<$ [*+$ #5)0;8#2$ )
/"#$ 7*88'.48)+$ ")'+$ 4('/%2$ >)+')/'*(%$ '( )/#6$ )88#+,#(%$ )+#$ /"#$ 6'%;#+%#$ 69#% .*(%/+4./'*($-*+&#+$0)9$:#$%#(%'/'H#6
>)%.48)+'/92$)(6$6'84/'*()8$#77#./%$*7$;#+1 K)H*)('8'(#%L$ )(6$ 4+#)$ 7*+0)86#"96# /*$ ."+*0'40$ 7+*0$ .#0#(/$ #5;*%4+#2
%;'+)/'*(<$ P7/#($ )88#+,#(%$ /")/$ )+#$ );1 +#%'(%$ K'($ -+'(&8#1+#%'%/)(/2$ .*8*+7)%/ -"#+#)%$ )$ ")'+6+#%%#+$ 0)9$:#$)88#+,'.$ /*
;8'#6$ /"#$ %.)8;$ )(6$ ")'+2$ 7*+$ #5)0;8#2 .8*/"'(,L<$ @;#.'?.)8892$ /"#$ "#)/2$ "40'61 ;)+);"#(98#(#6')0'(#$ K69#%L2$ .*.)0'1
")'+$ 69#$ KbbZL$ )(6$ %")0;**%$ K7+)1 '/92$)(6$7+'./'*($*7$/"#$:*69$7*86$K;#+')51 6*;+*;98$ :#/)'(#$ K%4+7)./)(/16#/#+,#(/L2
,+)(.#%2$ ;+#%#+>)/'>#%2$ )(6$ %4+7)./)(/%L2 '88)+9$)(6$;#+'.+4+)8L$)+#)%$0)9$.*(/+':1 *+$ ,89.#+*8$ 0*(*/"'*,89.*8)/#$ K;#+0)1
0)9$#8'.'/$6#+0)/'/'%$'($/"#$)6M).#(/$)+1 4/#$ /*$ /"#$ 8#)."'(,$ *7$ /"#$ /#5/'8#$ +#%'(% (#(/$-)>#$)(6$%/+)',"/#('(,$%*84/'*(%L<
#)%2$ %4."$ )%$ /"#$ ")'+8'(#2$ #9#8'6%2$ )(6 )(6$ 69#%$ )(6$ /"#$ *:%#+>#6$ 6#+0)/'/'% !"#$ 048/'7)./*+')8$ #/'*8*,9$ *7$ ")(6
;*%/)4+'.48)+$ )+#)%<$ I($ /"#$ ;)/'#(/$ -'/" )..#(/4)/'*($'($/"#%#$)+#)%<\B 6#+0)/'/'%$ )66%$ /*$ /"#$ .*0;8#5'/9$ *7
%.)8;$ 6#+0)/'/'%2$ .*(%'6#+)/'*($ %"*486 :*/"$ /"#$ 6'),(*%'%$ )(6$ /+#)/0#(/$ K%##
:#$,'>#($/*$)8/#+()/'>#$6'),(*%#%$%4."$)% C^0NNC4 !"#$ )5'88)+9$ .*0;)+/0#(/$ '% [',<$ AO1AL<OA$ =*1#5'%/#(/$ 6'%*+6#+%2$ %4."
%#:*++"#'.$6#+0)/'/'%$)(6$I=Z< %4:M#./$ /*$0)(9$ *7$/"#$ %)0#$ #5;*%4+#% )%$)/*;92$69%"'6+*%'%2$;%*+')%'%2$)(6$6#+1
)%$/"#$/+4(&2$-'/"$*(#$0)M*+$6'%/'(./'*( 0)/*;"9/*%'%2$ 0)9$ :#$ #(.*4(/#+#6$ '(
/C$45CHE54]4N0E[ !"#$ 7).#$ '%$ )8-)9% :#'(,$/"#$4%#$*7$6#*6*+)(/%$)(6$)(/';#+1 /"#%#$ ;)/'#(/%<$ S/$ /'0#%2$ )($ 4(6#+89'(,
#5;*%#6$ /*$ )$ ,+#)/$ (40:#+$ *7$ ;*/#(/')8 %;'+)(/%$K[',<$AO1cL<$!"#$7*+048)/'*(%$*7 #(6*,#(*4%$ 6#+0)/*%'%$ 0)9$ #>#($ :#1
)88#+,#(%$K%##$ [',%<$ AO1\$)(6$AO1OL<$I(.'1 /"#%#$ ;+*64./%$ 4%#$ )$ -'6#$ >)+'#/9$ *7 .*0#$ 4(0)%$ *+$ -*+%#(#6$ :9$ )$ %#.1
6#(/)8$ #5;*%4+#%$ /*$ )#+*)88#+,#(%$ .)( .*(%/'/4#(/%2$%4."$)%$7+),+)(.#%$Q:)8%)0 *(6)+9$.*(/)./$6#+0)/'/'%$K#'/"#+$)88#+,'.
8#)6$ /*$ %#>#+#$ .*(%#`4#(.#%2$ 7*+$ #5)01 *7$b#+42$W9+)8$K"96+*59'%*"#598$O1.9.8*1 *+$ '++'/)(/L<$ [*+$ #5)0;8#2$ .)%#%$ *7$ ')/+*1
;8#2$:8'%/#+'(,$6#+0)/'/'%$)7/#+$7)88$:4+(1 "#5#(#$ .)+:*5)86#"96#LX2$ ;+#%#+>)/'>#% ,#('.$.*(/)./$6#+0)/'/'%$/*$#'/"#+$/"#$+4:1
'(,$ *7$ 8#)>#%$ )..'6#(/)889$ .*(/)0'()/#6 K7*+0)86#"96#$+#8#)%#+%2$;)+):#(%L2$)(6 :#+$ )66'/'>#$ '($ ,8*>#%$ K/"'4+)02$ .)+:)1
-'/"$ ;*'%*($ '>9$ *+$ ."+*('.$ ;"*/*$ .*(1 */"#+$#5.';'#(/%$K8'."#($#5/+)./2$>'/)0'( 0)/#L$*+$/*;'.)8$/"#+);#4/'.%$K;+#%#+>)/'>#%
/)./$ 6#+0)/'/'%$ 7+*0$ 7#>#+7#-$ *+$ */"#+ U2$ ;+*;98#(#$ ,89.*8L<$ S$ .*00*(89$ *:1 )(6$.*+/'.*%/#+*'6%L$0)9$:#$#(.*4(/#+#6<
%#%`4'/#+;#(#$ 8)./*(#Y.*(/)'('(,$ ;8)(/%< %#+>#6$#77#./$'%$/"#$%;)+'(,$*7$/"#$>)48/2 =8'('.)8$ .84#%$ /")/$ /"#$ ;"9%'.')($ %"*486
[4+/"#+0*+#2$ '()6>#+/#(/$ /+)(%0'%%'*( %#.*(6)+9$/*$/"#$;#+%;'+)/'*()8$6'84/'*( ")>#$)$"',"#+$'(6#5$*7$%4%;'.'*($*7$S=Z
7+*0$/"#$")(6%$'%$7+#`4#(/$/*$/"'%$)+#)2 *7$ /"#$ )88#+,#(%<$ [4+/"#+0*+#2$ )#+*1 '(.846#$ '(>*8>#0#(/$ *7$ /"#$ ?(,#+$ -#:
)(6$6#+0)/'/'%$.)($:#$%##($6#%;'/#$8).& %*8'H#6$ #5;*%4+#$ *7$ /"#$ )88#+,#(%$ 0)9 %;).#%$)(6$6*+%)8$")(6%2$)(6$;+4+'/4%<
*7$)(9$#>'6#(.#$*7$)88#+,9$*($/"#$")(6% 8#)6$ /*$ )$ %.)//#+'(,$ )++)9$ ;)//#+($ -'/" S%$)+#$/"#$;)80%2$/"#$>*8)+$7**/$%4+7).#%
K#./*;'.$ .*(/)./$ 6#+0)/'/'%L<$ _#.)4%# %)/#88'/#$;);48#%< )+#$+#8)/'>#89$+#%'%/)(/$/*$6#>#8*;0#(/$*7
/"#$ 7).#$ '%$ /"#$ 0*%/$ 8'Y$ )+#)$ /*$ #(1 S=Z2$)(6$/"#$'(>#%/',)/*+$04%/$.*(%'6#+
.*4(/#+$ )$ 09+')6$ *7$ ,+**0'(,$ /**8% \CHE[5CHE5/44S !"#$ "',"$ '(.'6#(.#$ *7 .*10*+:'6'/'#%$)(6$/"#$;*%%':'8'/9$*7$.*(1
%4."$)%$#9#8)%"$.4+8#+%2$0)$%;*(,#%2 ")(6$ 6#+0)/'/'%$ K%##$ U;'6#0'*8*,9L$ '%$ ) 7*4(6'(,$ 6'%*+6#+%$ K;%*+')%'%2$ 69%"'6+*1
)(6$/**/":+4%"#%$K+4::#+$)66'/'>#%L$)(6 6'+#./$ .*(%#`4#(.#$ *7$ /"#$ 7)./$ /")/$ /"# %'%2$ M4>#('8#$ ;8)(/)+$ 6#+0)/*%'%2$ #/.<L$ /*
!98
.*0;+#"#(%'>#89$ #>)84)/#$ /"#$ ;)/'#(/ $,D,B>]@E,H(9=D-,C>A=A
-'/"$%4."$0)('7#%/)/'*(%<$!"#$6*+%40$*7
/"#$7**/2$*($/"#$*/"#+$")(62$'%$7+#`4#(/89 !"#$ `4'(/#%%#(/')8$ )88#+,#($ '(64.'(,$ )
'(>*8>#6<$=*0;8#/#$#>)84)/'*($%"*486$'(1 ;)+)6*5'.)8$ 6#+0)/'/'%$ '%$ ,*86<$ I/$ '%$ '01
.846#$ /#%/'(,$ -'/"$ /"#$ ;+'(.';)8$ )88#+,#(% ;*+/)(/$/*$(*/#$/")/$)88#+,'.$+#)./'*(%$/*
,#(#+)889$)%%*.')/#6$-'/"$7**/$6#+0)/'/'%2 ,*86$>#+9$+)+#89$'(>*8>#$/"#$.*(/)./$%'/#
'(.846'(,$ +4::#+$ )..#8#+)/*+%$ K;+#%#(/$ '( *7$ /"#$ *77#(6'(,$ M#-#8+92$ %4."$ )%$ )
+4::#+1:)%#6$ 8'(#+%$ )(6V*+$ ,84#%L2$ '%*.9)1 -)/."$*+$)$+'(,<$R#)./'*(%$0)9$:#$%##(
()/#%$K'($7*)0$+4::#+L2$71/#+/1:4/98;"#(*8 *($ /"#$#9#8'6%2$ ."##&%2$ *+$:+'6,#$*7$/"#
7*+0)86#"96#$ +#%'($ K'($ ,84#L2$ ;*/)%%'40 (*%#2$ "*-#>#+2$ -"#+#$ ,*86$ K#<,<2$ '(
6'."+*0)/#$ K'($ /)((#6$ 8#)/"#+L2$ )(/':'*/'. ,8)%%#%L$ ")%$ .*0#$ '(/*$ .*(/)./$ -'/"$ )
.+#)0%$ )(6$ /*;'.)8$ .*+/'.*%/#+*'6%$ K7+*0 ")+6#+$0#/)8$%4."$)%$/'/)('40$6'*5'6#$*+
;+#%.+';/'*($ )(6$ *>#+1/"#1.*4(/#+$ %#871 H'(.$ *5'6#$ '($ )$ %4(%.+##(2$ .*%0#/'.
/+#)/0#(/L2$ '($ )66'/'*($ /*$ %4%;#./$ %*4+.# .+#)02$*+$7*4(6)/'*(<Oe
.*0;*(#(/$ /#%/'(,$ 4%'(,$ )$ GYAE$ 00 @#>#+)8$*/"#+$)88#+,#(%$K#<,<2$8)(*8'($)(6
;4(."$:'*;%9$%-)/."$*7$/"#$%"*#<$P7/#(2 ;)+):#(L$)+#$)8%*$(*/#6$7*+$/"#'+$;)+)6*51 /012345!76B #HH=D1@E(E>0C,EC(B=D-,C@C@A(C>(ID,M
#5/#(6#6$ .*(/)./$ -'/"$ /"#$ %"*#$ .*0;*1 '.)8$ '(64./'*($ *7$ S=Z$ :#.)4%#$ /"#9$ )+# 1D,0E=A.(%<@A(F,C@=0C(<,B(,(AOAC=-@E(R,D=(D=,EC@>0.
(#(/$'%$(#.#%%)+9$/*$#8'.'/$)$+#)./'*(< /**$ -#)&$ /*$ #8'.'/$ )$ +#%;*(%#$ *($ '(/)./
%&'($:4/$0)9$,'>#$+'%#$/*$S=Z$-"#($/"#9
7$3$(30$$/+##$K%##$[',%<$AO1\2 AO1DL<OB$I/$'%
)+#$);;8'#6$/*$)$6)0),#6$#;'6#+0'%$K#<,<2
$=D@>D,H(,0B($=D@,0,H( )/*;92$ %/)%'%$ 6#+0)/'/'%Ll/"4%$ /"#$ /#+0%
#(.*4(/#+#6$ '($ #)+89$ '(7)(.9$ '($ :):9
5JE>A,H(&]F>AJD=A( -)%"#%$ )(6$ 6');#+$ %)8>#%$ )(6$ ),)'(
7030.$),70308&F$)(6$10)&1(),70308&F<OC$[4+1
6)'89$'($)648/"**6$)$-'6#$+)(,#$*7$%4:1
/"#+0*+#2$ .*+/'.*%/#+*'6%2$ -"'."$ -#+#
F4.*%)8$S=Z2$%4."$)%$);"/")#$)(6$8'(1 %/)(.#%$ 7+*0$ 7+),+)(.#6$ ;#+%*()8$ "91
6#%',()/#6$ /"#$ )88#+,#(%$ *7$ /"#$ 9#)+$ '(
,4)8$ #+*%'*(%$ .)4%#6$ :9$ .*(/)./$ -'/" ,'#(#$ ;+*64./%$ /*$ 6#(/4+#$ )6"#%'>#%<
\EED$:9$/"#$S0#+'.)($=*(/)./$Z#+0)/'1
)88#+,#(%$ '($ /**/";)%/#2$ '%$ )$ +)+#$ :4/ [4+/"#+0*+#2$ /"#$ :)8%)0$ '/%#87l*+2
/'%$@*.'#/92$:#.)4%#$*7$/"#'+$'(/+'(%'.$)(/'1
;#+");%$ 4(6#+1+#;*+/#6$ ;"#(*0#(*(< 0*+#$ /9;'.)8892$ 0*6'?#6$ 7+)./'*(%$ *7
'(3)00)/*+9$ ;+*;#+/'#%2$ +#`4'+#$ )$ 6#1
F*+#$ .*00*(892$ ;)/'#(/%$ ")>#$ ;#+%'%1 '/l)+#$7+#`4#(/89$4%#6$)%$7+),+)(.#$)(6
8)9#6$ ;)/."$ /#%/$ +#)6'(,$ K)/$ Be$ "*4+%L$ /*
/#(/$ ;#+'*+)8$ 6#+0)/'/'%$ +)/"#+$ /")($ '(1 3)>*+'(,$ )66'/'>#%$ K#<,<2$ '($ 8*H#(,#%2
.);/4+#$ )88#+,'.$ +#)./'*(%<$ I($ .)%#%$ *7
/+)1*+)8$ 8#%'*(%<$ [8)>*+)(/%2$ 6#/#+,#(/% .*4,"$ %9+4;%2$ ."'86+#(s%$ )(/':'*/'.$ %4%1
/+#)/0#(/1+#%'%/)(/$6#+0)/'/'%$*+$.)%#%$'(
K.*.)0'6*;+*;98$ :#/)'(#L2$ )(6$ -"'/#(1 ;#(%'*(%2$ )(6$ .*8)%L<$ I0;*+/)(/892$ :#1
-"'."$.8'('.)8$;+*,+#%%'*($*..4+%$6#%;'/#
#+%$ K;#+*5'6#%L$ )+#$ 7+#`4#(/89$ #(.*4(1 .)4%#$ /"#%#$ ."#0'.)8%$ K.'(()0'.$ ).'62
/"#$4%#$*7$'(.+#)%'(,89$;*/#(/$.*+/'.*%/#+1
/#+#6$'($6#(/)8$"9,'#(#$;+*64./%<$[*+/41 .'(()098$ .'(()0)/#2$ :#(H98$ :#(H*)/#2
*'6%2$.*+/'.*%/#+*'6$)88#+,9$%"*486$:#$%4%1
()/#892$ *(89$ +)+#89$ 6*$ '(6'>'64)8%$ +#)./ :#(H*'.$).'62$)(6$:#(H98$)8.*"*8$)(6$#%1
;#./#6<$ P(#$ 04%/$ :#$ )-)+#$ *7$ /"#$ ?>#
/*$ 6#(/)8$ )0)8,)0$ 0#/)8%$ K('.R$ .*1 /#+'?#6$ ;*890#+%$ *7$ .*('7#+98$ )8.*"*8L
%/+4./4+)8$.8)%%#%$*7$.*+/'.*%/#+*'6%$KS2$_2
:)8/2$0#+.4+92$)(6$,*86L$-'/"$*+)8$8'."#( )+#$()/4+)889$6#+'>#62$/"#9$")>#$)$(401
=2$ZA2$)(6$Z\p$%##$=");<$\AeL$)(6$/"#$'(1
;8)(4%Y8'&#$ 6#+0)/*%#%2$ %/*0)/'/'%2$ *+ :#+$ *7$ ()/4+)8$ .+*%%1+#)./)(/%$ K.'(()1
"#+#(/$ ;*/#(/')8$ .+*%%1+#)./'>'/'#%$ :#1
%9%/#0)/'.$%90;/*0%<$!"#$8*-$+#)./'*( 0*(2$.8*>#2$#4,#(*8L<$I($*(#$+#;*+/$%;#1
/-##($/"#$.8)%%#%<OG
+)/#%$ 0)9$ +#3#./$ )$ 6'84/'*()8$ #77#./$ *7 .')8$ )()89%#%$ ;+*>#6$ /")/$ /*0)/*#%
/"#$ 04.*%)8$ %#.+#/'*(%$ *+$ '("#+#(/$ 6'71 .*(/)'(#6$ .'(()0'.$ )8.*"*8$ )(6$ .*1
7#+#(.#%$ '($ 04.*%)8$ '004('/9<$ [4+/"#+1 +OAC=-@E(5,0@I=AC,C@>0A( ('7#+98$ )8.*"*82$ /-*$ 0)'($ )88#+,#(%$ '(
0*+#2$%/46'#%$")>#$%"*-($/")/$;+'0)+9
,0B(:=0=D,H@P=B(9=D-,C@C@A /"#$ :)8%)0$ *7$ b#+4$ 0'5/4+#<cE$ =*(1
04.*%)8$ #5;*%4+#$ /*$ )($ )88#+,#($ 0)9 %40;/'*($ *7$ /"#%#$ )88#+,#(%$ 0)9$ +#%48/
8#)6$ /*$ /*8#+)(.#<$ [*+$ #5)0;8#2$ /"#$ 7+#1 @9%/#0'.$ .*(/)./$ 6#+0)/'/'%$ '%$ )$ +#8)1 '($ )$ +#.)88$ +#)./'*($ /*;'.)889$ )/$ */"#+
`4#(.9$ *7$ ('.$ %#(%'/'>'/9$ '%$ 8*-#+$ '( /'>#89$ 4(.*00*($ )(6$ ;**+89$ 4(6#+1 %'/#%$-"#+#$%'0'8)+$."#0'.)8%$-#+#$;+#1
'(6'>'64)8%$ -"*$ 4(6#+,*$ *+/"*6*(/'. %/**6$)%;#./$*7$S=Z$/")/$"',"8',"/%$/"# >'*4%89$ );;8'#6$ *+$ '($ )$ %9%/#0'.$ 3)+#
/+#)/0#(/$:#7*+#$#)+$;'#+.'(,<O\ ;*/#(/')8$ 7*+$ 8*(,18)%/'(,$ '004(*8*,'. K%## [',<$ AO1DL<$ P7$ (*/#2$ cC$ ;#+.#(/$ *7
i'/"$ )($ '(.+#)%'(,$ (40:#+$ *7$ *86#+ 0#0*+9$ '($ ;+#>'*4%89$ %#(%'/'H#6$ )+#)% ;)/'#(/%$ )88#+,'.$ /*$ :)8%)0$ *7$ b#+4$ )(6V
;#+%*(%$K*86#+$/")($eD$9#)+$*7$),#L$'($*4+ *7$ %&'(<$ !"'%$ ;"#(*0#(*($ *..4+%$ ;+'1 *+$ */"#+$ 7+),+)(.#$ ),#(/%$ +#`4'+#6$ 6'1
%*.'#/92$ ),#1)%%*.')/#6$ .")(,#%$ %4."$ )% 0)+'89$ '($ '(6'>'64)8%$ -"*$ )+#$ '('/')889 #/)+9$ 0*6'?.)/'*($ /*$ .*(/+*8$ /"#'+$ 6#+1
04.*%)8$ 6+9(#%%2$ '(.*(/'(#(.#2$ )(6$ '(1 %#(%'/'H#6$ /*;'.)889$ /*$ )($ )88#+,#($ )(6 0)/'/'%p$ AG$ ;#+.#(/$ *7$ ;)/'#(/%$ -"*
):'8'/9$ /*$ .8#)(%#$ ;+*;#+89$ ")>#$ +#%48/#6 /"#($ %4:%#`4#(/89$ #5;*%#6$ %9%/#0'1 7)'8#6$ /*$ 0*6'79$ /"#'+$ 6'#/%$ ")6$ ;#+%'%1
'($ '(.+#)%'(,$ 4%#$ *7$ ,#('/)8$ )(6$ ;#+')()8 .)8892$ -"'."$ +#%48/%$ '($ )$ -'6#$ )++)9$ *7 /#(/$ 6'%#)%#2$ )(6$ *(89$ Oe$ ;#+.#(/$ '01
"9,'#(#$;+*64./%$)(6$#5;*%4+#$/*$+#8)/#6 *4/.*0#%2$ 7+*0$ )$ +#.)88$ +#)./'*($ K6#+1 ;+*>#6$ -'/"*4/$ %*0#$ 7*+0$ *7$ 6'#/)+9
)88#+,#(%2$%4."$)%$0*'%/#(#6$/*'8#/$/'%%4# 0)/'/'%$ )/$ /"#$ %'/#$ *7$ *+','()8$ %#(%'/'H)1 0*6'?.)/'*(<OB
K0#/"98."8*+*'%*/"')H*8'(*(#$ )(6$ 0#/"1 /'*(L$ /*$ #5/#(%'>#2$ :'H)++#1);;#)+'(, !"#$ 0#/)8%$ )+#$ )$ ,+*4;$ *7$ 7+#`4#(/89
986':+*0*,84/)+*('/+'8#L$ )(6$ %4;;*%'/*1 6#+0)/'/'%$)(6$#+9/"+*6#+0)< #(.*4(/#+#6$4:'`4'/*4%$)88#+,#(%$K('.R
+'#%$K7+),+)(.#%$)(6$;)+):#(%L<$ S8/"*4," !"#$ 0*+#$ 4:'`4'/*4%$ /"#$ )88#+,#($ '( .*:)8/2$)(6$."+*0'40L<$!"#9$)+#$;+#%#(/
8*-#+$*+$ %8*-#+$ +#)./'>'/9$ '%$ +#;*+/#6$'( ()/4+#$ )(6$ /"#$ ;)/'#(/s%$ #(>'+*(0#(/2 '($)$-'6#$+)(,#$*7$0#/)88'.$*:M#./%$KM#-1
/"#$),#6$;*;48)/'*(2$%/46'#%$%4,,#%/$/")/ /"#$ 8#%%$ *:>'*4%$ /"#$ /#0;*+)8$ )%%*.')1 #8+92$/-##H#+%2$.8*/"'(,$%();%2$;);#+.8';%2
S=Z$ .*(/'(4#%$ /*$ *..4+$ '($ /"'%$ ;*;48)1 /'*(%$-'88$:#$:#/-##($/"#$#5;*%4+#%$)(6 )(6$ .*'(%L$ '($ )66'/'*($ /*$ 4(#5;#./#6
/'*(<OOYOD$ !"4%2$ '(.+#)%#6$ >','8)(.#$ -'88 /"#$ 6#+0)/'/'%<$ P(#$ ;)+/'.48)+89$ (*/*+'1 %*4+.#%$ %4."$ )%$ .',)+#//#$ %0*$ >'/)1
:#$+#`4'+#6$/*$6'%.*>#+$(#-$)88#+,#($)%1 *4%$ )88#+,#($ '%$ :)8%)0$ *7$ b#+42$ 6#+'>#6 0'(%2$-)/#+2$)(6$7**6%/477%<
%*.')/'*(%$ '(>*8>'(,$ /"#%#$ )(6$ */"#+ 7+*0$ /"#$ ;*%/1-*4(6'(,$ #546)/#%$ *7 S(*/"#+$ 7+#`4#(/89$ )(6$ 4(#5;#./1
;+*64./%$4%#6$:9$/"'%$;*;48)/'*(< /"#$:)+&$*7$/"#$U8$@)8>)6*+)($A23&F21&) #689$ #(.*4(/#+#6$ )88#+,#($ '%$ 7*+0)86#1
!9!
"96#<$I/$")%$)$>)+'#/9$*7$'(64%/+')8$);;8'1 ;4+;4+)2$ )(6$ #+9/"#0)$ 69%."+*0'.40 CNN4310$5$ZHSC$S523S0$C30C S88#+,'.$.*(1
.)/'*(%2$ '(.846'(,$ '($ ;8)%/'.%$ )(6$ ,84#%2 ;#+%/)(%<cc$ P7$ /"#%#2$ /"#$ 8'."#(*'6$ )(6 /)./$ 4+/'.)+')$ KS=kL$ +#;+#%#(/%$ *(#$ *7
)(6$'%$.*00*(89$4%#6$)%$)$:+*)61%;#.1 UF18'&#$>)+')(/%$)+#$0*%/$.*00*(< /"#$8#)%/$.*00*($7*+0%$*7$.*(/)./$6#+1
/+40$:'*.'6#<$!"4%$%*4+.#%$*7$#5;*%4+# W'."#(*'6$)88#+,'.$.*(/)./$+#)./'*(%$)+# 0)/'/'%<$ S=k$ '%$ )($ '004(*,8*:48'($ UY
.)($ +)(,#$ 7+*0$ '(%48)/'*($ 0)/#+')8%2 4%4)889$%#.*(6)+9$/*$#5;*%4+#$)(6$%#(%'1 0#6')/#6$ '00#6')/#1/9;#$ "9;#+%#(%'1
%"*#$,84#%2$;);#+$;+*64./%2$()'8$")+6#(1 /'H)/'*($/*$0#/)8%2$%4:%/'/4/#6$bbZ$.*8*+ /'>'/9$+#)./'*($/")/$'%$6'%/'(./$7+*0$/"#$!
#+%2$.8*/"'(,$+#%'(%2$)(6$.',)+#//#$%0*&# 6#>#8*;#+%2$)(6$3)>*+'(,$),#(/%<$F#/)8%2 .#88Y0#6')/#6$ /9;#$ Io$ "9;#+%#(%'/'>'/9
/*$ .*00*(89$ 4%#6$ ;#+%*()8$ "9,'#(# '($;)+/'.48)+2$")>#$:##($8'($/*$*+)8$8'1 +#)./'*($*7$S=Z<$I0;*+/)(/892$S=k$")%
;+*64./%$ )(6$ 0#6'.)8$ .+#)0%<$ !"#$ 7*+1 ."#($;8)(4%<$F)(9$6+4,%$.)($)8%*$.)4%#$) :##($ +#;*+/#6$ '($ +#%;*(%#$ /*$ )$ (40:#+
0)86#"96#1+#8#)%'(,$;+#%#+>)/'>#%$K[Rb%L %9%/#0'.$ 8'."#(*'6$ "9;#+%#(%'/'>'/92$ /"# *+$),#(/%$/")/$)+#$)8%*$.);):8#$*7$#8'.'/1
'(.846#$`4)/#+('401AD$KZ*-'.'8L2$'0'6)1 0*%/$(*/*+'*4%$:#'(,$/"#$`4'('(#$6#+'>)1 '(,$)$/9;#$Io$+#)./'*(2$7*+$#5)0;8#2$:).1
H*8'6'(98$ 4+#)$ Ka#+0)8$ IL2$ 6')H*8'6'(98 /'>#%2$ "96+*594+#)2$ )(,'*/#(%'(1.*(>#+/1 '/+).'($ K)(/':'*/'.L2$ 0#+.);/*:#(H*/"')1
4+#)$ Ka#+0)8$ IIL2$ \1:+*0*1\1('/+*;+*1 '(,$ #(H90#$ '("':'/*+%2$ $ :8*.&#+%2$ )(6 H*8#$K+4::#+$)..#8#+)/*+L2$)(6$.*8*;"*(9
;)(#1A2O16'*8$ K_+*(*;*8L2$ 6'0#/"98*81 )(/'1#;'8#;/'.$),#(/%<$UF18'&#$S=Z$+#).1 K)6"#%'>#L<
6'0#/"98$ "96)(/*'($ Ka896)(/L2$ )(6$ 53(*1 /'*(%$)+#$0*%/$7+#`4#(/89$%##($)7/#+$.*(1 !"#$ 0*%/$ (*/*+'*4%$ )88#+,#($ /*$ .)4%#
K"96+*5910#/"98L1('/+*10#/")(#$ K!+'% /)./$-'/"$#5*/'.$-**6%2$.*00*($;8)(/%2 S=k$ -*+86-'6#$ '%$ ()/4+)8$ +4::#+$ 8)/#5<
T'/+*L<$S$%/),,#+'(,$(40:#+$*7$8#)>#$*( )(6$/*;'.)8$0#6'.)/'*(%<$!"#$*/"#+$(*(1 !"#$ '(.'6#(.#$ '($ /"#$ k('/#6$ @/)/#%$ '%
)(6$ -)%"$ *(V-)%"$ *77$ .*%0#/'.%$ )(6 #.H#0)/*4%$ >)+')(/%$ *7$ S=Z$ )+#$ `4'/# 8)+,#89$4(&(*-(p$"*-#>#+2$#%/'0)/#%$%4,1
.+#)0%$'(.846#$/"#%#$.*00*($)88#+,#('. +)+#<$P7$(*/#2$0*%/$.)%#%$*7$.*(/)./$8#41 ,#%/$/")/$8#%%$/")($A$;#+.#(/$/*$\$;#+.#(/$*7
;+#%#+>)/'>#%<$ P7$ (*/#2$ %*0#$ /*;'.)8 &*6#+0)$ )+#$ 64#$ /*$ #'/"#+$ ;*%/1'(3)01 /"#$ ,#(#+)8$ ;*;48)/'*($ '%$ )77#./#6<ce
%/#+*'6$ ;+#;)+)/'*(%$ .*(/)'($ 7)'+89$ "'," 0)/*+9$ "9;*;',0#(/)/'*($ *+$ 6'+#./ S0*(,$"*%;'/)8$-*+&#+%$0*%/$8'Y$/*$:#
)0*4(/%$*7$[Rb%2$)(6$7)'84+#$/*$'0;+*># ."#0'.)8 /*5'.'/9$ K#<,<2$ "96+*`4'(*(#%2 #5;*%#6$/*$()/4+)8$+4::#+$8)/#5$,8*>#%2$/"#
-)++)(/%$ ;)/."$ /#%/'(,$ -'/"$ :*/"$ .*+/'1 .)/#."*8%2$ ;"#(*8%2$ 0#+.);/*)0'(#%L<cD +)/#$ *7$ 8)/#5$ S=k$ ")%$ :##($ +#;*+/#6$ /*
.*%/#+*'6$ )(6$ ;+#%#+>)/'>#%<$ [4+/"#+1 a+)(48*0)/*4%$ 6#+0)/'/'%$ ")%$ :##($ +#1 +)(,#$ 7+*0$ )$ 8*-$ *7$ D<D$ ;#+.#(/cC$ /*$ )%
0*+#2$ .*+/'.*%/#+*'6%$ .*(/)'('(,$ [Rb% ;*+/#6$ '($ +#%;*(%#$ /*$ 0#/)8%2$ '(.846'(, "',"$ )%$ OG$ ;#+.#(/<cG$ [4+/"#+0*+#2$ .*1
%"*486$ (*/$ :#$ 4%#6$ :9$ ;)/'#(/%$ "9;#+1 0#+.4+92$ ."+*0)/#%2$ .*:)8/2$ :#+988'402 0*+:'6$ .*(6'/'*(%$ +#`4'+'(,$ "*%;'/)8'H)1
%#(%'/'>#$/*$7*+0)86#"96#<cA ,*862$)(6$;)88)6'40$K[',<$AO1eL< /'*(%$)(6$0#6'.)8$.)+#$'($#)+89$8'7#2$%4."$)%
[*+$ 0)(9$ ;)/'#(/%2$ /"#$ 6'),(*%'%$ *7 0*6#+)/#$ /*$ %#>#+#$ )/*;'.$ 6#+0)/'/'%2
+4::#+$ )88#+,9$ .*0#%$ -'/"$ )$ .40:#+1 %;'()$:'?6)2$*+$0#('(,*09#8*.#8#2$;+#6'%1
%*0#$ 8'%/$ *7$ %4:%/)(.#%$ /*$ )>*'62$ :#1 ;*%#$/*$/"#$6#>#8*;0#(/$*7$S=k2$)%$6*#%
.)4%#$:*/"$()/4+)8$)(6$%9(/"#/'.$+4::#+ 04.*%)8$#5;*%4+#$/*$8)/#5<
."#0'.)8%$)+#$4:'`4'/*4%<$[+#`4#(/$%'/#% S=k$ 7+*0$ 8)/#5$ 0)9$ ;+#%#(/$ )%$ '01
*7$)88#+,#($.*(/)./$)(6$%4:%#`4#(/$+#).1 0#6')/#$ %90;/*0%$ K%4."$ )%$ :4+('(,2
/'*($)+#$/"#$7).#$K0)$%;*(,#%L2$#)+ %/'(,'(,2$ *+$ '/."'(,$ -'/"$ *+$ -'/"*4/$ 8*1
.)()8%$K#)+;84,%2$#)+$;"*(#%L2$;#+'*.48)+ .)8'H#6$ 4+/'.)+')$ *($ .*(/)./$ -'/"$ 8)/#5
)+#)$K,*,,8#%2$#9#8)%"$.4+8#+%L2$:+)%%'#+# ;+*/#'(%L$ *+2$ -'/"$ )#+*%*8'H)/'*($ #5;*1
)(6V*+$ -)'%/8'(#$ )+#)%$ K#8)%/'.'H#6$ 4(1 %4+#2$ 0)9$ '(.846#$ 6'%%#0'()/#6$ 4+/'1
6#+,)+0#(/%L2$ ,#('/)8$ )+#)%$ K.*(6*0%2 .)+')2$ )88#+,'.$ +"'('/'%2$ )(6V*+$ )();"91
6');"+),0%2$ ;#%%)+'#%L2$ ")(6%$ K,8*>#%2 8)5'%<$ W)/#51)88#+,'.$ ;)/'#(/%$ 0)9$ )8%*
+4::#+$:)(6%L2$7##/$K%"*#%L2$)(6V*+$M*'(/% 6#>#8*;$ )$ /9;#$ Io$ 6#8)9#6$ "9;#+%#(%'1
K*+/"*;#6'.$ :+).#%L<$ I/$ '%$ '0;*+/)(/$ /* /'>'/9$ +#)./'*($ /*$ (*(8)/#5$ .*0;*(#(/%
(*/#$ /")/$ 7*+$ #>#+9$ AEE$ 8:$ *7$ +4::#+2 *7$ /"#$ ,8*>#%2$ 4%4)889$ *($ /"#$ 6*+%)8$ )%1
/"#+#$ )+#$ c$ /*$ D$ 8:$ *7$ +4::#+$ )66'/'>#% ;#./$*7$/"#$")(6%p$7*+$#5)0;8#2$/*$)$+4:1
KBE$ ;#+.#(/$ *7$ -"'."$ .*(%/'/4/#$ /"#$ ).1 :#+$ )66'/'>#$ K/"'4+)0L$ /")/$ 0)9$ :#
.#8#+)/*+%$ )(6$ )(/'6#,+)6)(/%L2$ )(6 7*4(6$'($8)/#52$('/+'8#2$)(6$>'(98$,8*>#%<
/"#%#$)66'/'>#%$)+#$+#%;*(%':8#$7*+$)$0)1 I($.*(/+)%/$/*$S=Z2$S=k$'($+#%;*(%#$/*
M*+'/9$*7$/"#$+#)./'*(%<c\$@#(%'/'H)/'*($'% 8)/#5$ ,8*>#%$ 0)9$ ;+#%#(/$ -'/"$ ;)80)+
/9;'.)8$ /*$ #'/"#+$ /"#$ )..#8#+)(/%$ K/"'1 '(>*8>#0#(/2$-"'."$0)9$+#8)/#$/*$%*841
4+)0%2$ .)+:)0)/#%2$ ,4)('6'(#%2$ )(6V*+ :'8'H)/'*($ *7$ /"#$ 8)/#5$ ;+*/#'(%$ *+$ /"#
:#(H*/"')H*8#%L$ *+$ /"#$ )(/'*5'6)(/% 8';'6$.*(/#(/$*7$/"#$"9;#+&#+)/*/'.$>*8)+
K:8).&$+4::#+$0'5VbbZ$6#+'>)/'>#%L$/")/ %4+7).#$.)4%#6$:9$(*+0)8$"'6+*%'%<
)+#$7*4(6$'($:*/"$()/4+)8$)(6$%9(/"#/'. S8/"*4,"$/"#+#$)+#$*>#+$\DE$%#;)+)/#
+4::#+2$ -'/"$ /"'4+)0$ 0'5$ Ke\$ ;#+.#(/L ()/4+)8$ +4::#+$ 8)/#5$ ;+*/#'(%2$ *(89$ );1
)(6$:8).&$+4::#+$0'5$KOG$;#+.#(/L$:#'(, ;+*5'0)/#89$\D$ ;#+.#(/$ %"*-$+#)./'>'/9
/"#$0*%/$.*00*($*77#(6#+%<cO -'/"$ '004(*,8*:48'($ U$ )4/*)(/':*61
'#%<ce$ S%$ *7$ \EEO2$ /"#$ I(/#+()/'*()8
HZH4$_4XCSZ2[5 `C30CHS[5 Z/5 CNN4310$ k('*($*7$I004(*8*,'.)8$@*.'#/'#%$=*01
$ZHSC$S5E43XCS0S0[ S=Z2$ 8'&#$ %9;"'1 0'//##$*($T*0#(.8)/4+#$8'%/#6$AO$G$>$0
8'%2$ '%$ )$ ,+#)/$ 0'0'.&#+$ -'/"$ 048/';8# .30*(1($)*(*$Kn#>$:L$;+*/#'($)88#+,#(%<$@',1
(*(#.H#0)/*4%$ >)+')(/%2$ '(.846'(,$ :4/ /012345!76F :D,0JH>-,C>JA(E>0C,EC(B=D-,M ('?.)(/$ )6>)(.#%$ '($ ZTS$ /#."(*8*,9
(*/$ 8'0'/#6$/*$8'."#(*'6$ .*(/)./$6#+0)1 C@C@A( @0( ,( F,C@=0C( /@C<( F,HH,B@J-( ,HH=D1O.( #( F,HH,M )(6$ .8*('(,$ ")>#$ )88*-#6$ 7*+$ ;4+'?.)1
/'/'%2$#+9/"#0)$048/'7*+0#$KUFL2$.#8848'1 B@J-ME>0C,@0@01(B=0C,H(F>AC(/,A(@-FH,0C=B(>0(C<= /'*($ )(6$.")+)./#+'H)/'*($ *7$/"#%#$ )88#+1
/'%1);;#)+'(,$ 6#+0)8$ .*(/)./$ "9;#+%#(1 ,II=EC=B(A@B=(cJAC(Q=I>D=(C<=(>0A=C(>I(C<=(=DJFC@>0. ,#(%<$I/$'%$(*-$&(*-($/")/$/"#$0*%/$'01
%'/'>'/92$ .*(/)./$ 8#4&*6#+0)2$ .*(/)./ 7-FD>G=-=0C(/,A(=II=EC=B(QO(@CA(D=->G,H. ;*+/)(/$n#>$:$)88#+,#(%$)+#$n#>$:$A$/*$O
!9"
7*+$."'86+#($-'/"$%;'()$:'?6)$)(6$n#>$: /"#$;+'0)+9$,*)8$*7$/"#$;)/."$/#%/$)(6$'% /")/$ )$ "',"$ (40:#+$ *7$ .8'('.)889$ +#8#1
\$)(6$D$/*$C$7*+$"#)8/"$.)+#$-*+&#+%<ce :#%/$)."'#>#6$-'/"$)$"',"$;+#1/#%/$;+*:1 >)(/$ )88#+,#(%$ ,*$ 4('6#(/'?#6<$ I($ )(
S$ 6'),(*%'%$ *7$ 8)/#5$ )88#+,9$ %"*486$ :# ):'8'/9<DA$ !")/$ :#'(,$ %)'62$ *(#$ 0)M*+ )()89%'%$ *7$ /"#$ T*+/"$ S0#+'.)($ =*(1
.*(%'6#+#6$'($)(9$;)/'#(/$-'/"$)$"'%/*+9$*7 .")88#(,#$'($;)/."$/#%/'(,$'%$*:/)'('(,$) /)./$Z#+0)/'/'%$a+*4;$6)/)$7*+$ABBc$/*
4+/'.)+')$ *+$ )(,'*#6#0)$ -"#($ 6*(('(, /+4#1;*%'/'>#$ +#%48/$ K/+4#$ %#(%'/'H)/'*(L ABBe$ *($ OA\E$ ;)/'#(/%DO$ '/$ -)%$ 7*4(6
.*(6*0%$ *+$ ,8*>#%2$ *+$ '(3)/'(,$ :)88**(%< -'/"$ (*$ .8'('.)8$ +#8#>)(.#$ /*$ /"#$ ;)1 /")/$ e\$ ;#+.#(/$ ")6$ )/$ 8#)%/$ *(#$ ;*%'1
I($>'/+*$+)6'*)88#+,*%*+:#(/$/#%/'(,$)(6$#(1 /'#(/s%$ .4++#(/$ 6#+0)/*8*,'.$ ;+*:8#0 /'>#$ +#)./'*($ /*$ )($ )88#+,#($ ;+#%#(/$ *(
H90#18'($ '004(*%*+:#(/$ )%%)9$ )+# )(6$)%%40'(,$/"#9$)+#$+#8)/#6<$S//#0;/% /"#$ !<R<k<U<$!#%/2$ *7$ -"'."$ cD$ ;#+.#(/
.*00#+.')889$)>)'8):8#$)(6$%"*486$:#$;#+1 /*$ )%%',($ +#8#>)(.#$ /*$ %4."$ )($ )88#+,#( -#+#$+#8#>)(/$/*$/"#$.4++#(/$6#+0)/'/'%<
7*+0#6$)%$/"#$'('/')8$6'),(*%/'.$%/#;<$!"+## 0)9$8#)6$/*$.*(%#`4#(.#%$/")/$)+#$.401 I($ /"#'+$ %/469$ *7$ CO\$ ;)/'#(/%$ *>#+$ D<D
'($ >'/+*$ %#+*8*,'.$ )%%)9%$ ")>#$ k<@<$ [**6 :#+%*0#$ )(6$ 6'%/+#%%'(,$ /*$ :*/"$ /"# 9#)+%2$=*"#($#/$)8<Dc$7*4(6$/")/$*(89$\O
)(6$ Z+4,$ S60'('%/+)/'*($ K[ZSL$ );;+*>)8 ;"9%'.')($ )(6$ /"#$ ;)/'#(/<$ S%%',('(, ;#+.#(/$ *7$ ;)/'#(/%$ +#)./#6$ #5.84%'>#89
7*+$ 6'),(*%/'.$ ;4+;*%#%N$ I004(*=Sb .8'('.)8$ +#8#>)(.#$ /*$ )$ /+4#1;*%'/'># /*$)88#+,#(K%L$'($/"#$S88#+,#($b)/."$!#%/
Kb")+0).')1k;M*"(2$ k;;%)8)2$ @-#6#(L2 ;)/."$/#%/$+#%48/$+#`4'+#%$.*++#8)/'*($:#1 %/)(6)+6$ %#+'#%2$ OC$ ;#+.#(/$ +#)./#6$ /*
S8)@!S!$[UIS$KZ'),(*%/'.$b+*64./%$=*+;<2 /-##($/"#$'(>*8>#6$)+#)%$*7$%&'($)(6$/"# )88#+,#(%$ '($ :*/"$ /"#$ %/)(6)+6$ %#+'#%
W*%$S(,#8#%2$ =SL2$ )(6$ n^1!U=$UIS$ Kn91 ;)/'#(/s%$ #(>'+*(0#(/)8$ #5;*%4+#%2$ )(6 )(6$ */"#+$ %4;;8#0#(/)+9$ /#%/%2$ )(6$ cE
.*+$_'*0#6'.)82$I(.<2$a)+6#($a+*>#2$=SL< (*/)/'*($ *7$ %',('?.)(/$ '0;+*>#0#(/$ *( ;#+.#(/$ +#)./#6$ *(89$ /*$%4;;8#0#(/)+9
S8/"*4,"$ %&'($ ;+'.&$/#%/'(,$'%$ /"#$ ,*86 )>*'6)(.#$ *7$ /"#$ )88#+,#($ *+$ +#.4++#(.# )88#+,#(%<
%/)(6)+62$'/$%"*486$:#$(*/#6$/")/$/"#+#$'% -'/"$'/%$+#'(/+*64./'*(<
.4++#(/89$ (*$ [ZS1);;+*>#62$ .*00#+1 !"#$T*+/"$S0#+'.)($=*(/)./$Z#+0)1 70(d@CD>(%=ACA(I>D(#HH=D1@E(
.')889$ )>)'8):8#2$ %/)(6)+6'H#6$ 8)/#5$ )88#+1 /'/'%$ a+*4;$ 7+#`4#(/89$ +#;*+/%$ /"#'+
,#($;+#;)+)/'*(<$!"#$%/):'8'/9$;+*?8#$)(6 ;+#>)8#(.#$ 6)/)$ -'/"$ +#8#>)(.#$ )%%',(1 !>0C,EC(9=D-,C@C@A
`4)8'/9$.*(/+*88):'8'/9$*7$(*(1)00*(')/#6 0#(/%2$ )(6$ .*(/'(4#6$ 7)'84+#$ *7$ +#8#1 I($>'/+*$)(6$)('0)8$/#%/%$7*+$/"#$6'),(*%'%
8)/#5$0)&#$'/$/"#$.4++#(/$/*;$.)(6'6)/#$7*+ >)(.#$ 0)+&%$ /"#$ )88#+,#($ 7*+$ +#0*>)8 *7$S=Z$%4."$)%$/"#$890;"*.9/#$/+)(%7*+1
[ZS$8'.#(%4+#<ce$=4++#(/892$#5/#0;*+)(#1 7+*0$ /"#$ %/)(6)+6$ %.+##('(,$ %#+'#%<$ S 0)/'*($ )(6$ 0).+*;"),#$ 0',+)/'*($ '("'1
*4%$ #5/+)./%$ *+$ #84/#%$ 0)6#$ :9$ %*)&'(, ,**6$ #5)0;8#$ *7$ /"'%$ '%$ /"'0#+*%)8< :'/'*($ /#%/%$ ")>#$ :##($ '($ 6#>#8*;0#(/
"',"1)88#+,#($ ,8*>#%$ '($ -)/#+$ )/$ +**0 F)(9$ ;)/'#(/%$ -'/"$ ;*%'/'>#$ ;)/."$ /#%/ 7*+$/"#$8)%/$6#.)6#<$P(#$0)M*+$*:%/).8#$'(
/#0;#+)/4+#$)+#$4%#6<cB$I($0*%/$:4/$(*/$)88 +#%48/%$ /*$ /"'0#+*%)8$ ")>#$ :##($ %#(%'1 6#>#8*;'(,$'($>'/+*$%9%/#0%$'%$/"#$8).&$*7
.)%#%2$/"#%#$.+46#$#84)/#%$)+#$%47?.'#(/$/* /'H#6$ :9$ >)..'(#%$ :4/$ )+#$ )%90;/*1 %;#.'?.'/9$/*$6#/#./$/"#$)(/',#('.$0*'#/9
)88*-$ ;+'.&$ /#%/$ .*(?+0)/'*($ *7$ S=k<$ I/ 0)/'.<D\$ I/$ %"*486$ :#$ (*/#6$ /")/$ 8).&$ *7 *7$ )$ ;)+/'.48)+$ ."#0'.)8<$ W90;"*.9/#
04%/$ :#$ #0;")%'H#6$ /")/$ '($ >'>*$ /#%/'(, +#8#>)(.#$ 6*#%$ (*/$ 0#)($ /"#$ ;)/'#(/$ '% /+)(%7*+0)/'*($/#%/%$;#+7*+0#6$*($:8**6
.)($;*/#(/')/#$)();"98)./'.$+#)./'*(%< (*/$)88#+,'.$/*$/"#$."#0'.)8$'($`4#%/'*(2 .#88%$ 7+*0$ ;)/'#(/%$ -"*$ ")6$ )$ ;*%'/'>#
:4/$ 0*+#$ %;#.'?.)889$/")/$/"'%$."#0'.)8 ;)/."$/#%/$+#)./'*($/*$/"'4+)0$0'5$)(6V*+
'%$(*/$/"#$.)4%)8$),#(/$7*+$/"#$6#+0)/'/'% %"*-#6$ %#(%'/'H)/'*($ /*$ /#/+)0#/"981
;#Y3'#%3'j(478978:+ .4++#(/89$:#'(,$#>)84)/#6< /"'4+)0$ 0*(*%48?6#$ *+$ /*$ /#/+)0#/"981
70(d@G>($,CE<(%=AC !+4#1(#,)/'>#$ +#%48/%$ )+#$ )($ #`4)889 /"'4+)0$0*(*%48?6#$)(6$/#/+)0#/"98/"'1
'0;*+/)(/$.*0;*(#(/$*7$/"#$;)/."$/#%/2 4+)0$ 6'%48?6#$ 6#0*(%/+)/#6$ %',('?.)(/
!"#$ ,*86$ %/)(6)+6$ 0#/"*6$ 7*+$ /"#$ 6'),1 :#.)4%#$ /"#9$ ;+*>'6#$ %*0#$ )%%4+)(.# ;+*8'7#+)/'*($ *7$ ;#+';"#+)8$ :8**6$ 0*(*1
(*%'%$*7$S=Z$+#0)'(%$/"#$;)/."$/#%/<$Z#1 /")/$)$."#0'.)8$'($`4#%/'*($'%$(*/$.)4%1 (4.8#)+$ .#88%$ '($ +#%;*(%#$ /*$ ");/#(1
/)'8%$*($ /"#$;)/."$ /#%/$ ;+*.#64+#$)+#$:#1 '(,$/"#$6#+0)/'/'%<$I7$)$`4#%/'*($)+'%#%$)% ;+*/#'($ .*(M4,)/#%2$ -"#+#)%$ .#88%$ 7+*0
9*(6$ /"#$ %.*;#$ *7$ /"'%$ .");/#+$ :4/$ 0)9 /*$-"#/"#+$)$/+4#1(#,)/'>#$+#%48/$'%$/+489 ;)/'#(/%$ -'/"$ (#,)/'>#$ ;)/."$ /#%/$ +#).1
:#$7*4(6$'($)$(40:#+$*7$%/)(6)+6$/#5/%<DE '++#8#>)(/2$ ;+*>*.)/'>#$ +#;#)/$ *;#($ );1 /'*(%$/*$/"'4+)0$)(6$.*(/+*8$6*(*+%$-'/"
I/$ 04%/$ :#$ (*/#6$ /")/$ *(89$ \O$ .*00#+1 ;8'.)/'*($/#%/'(,$.)($:#$)($'(>)84):8#$6'1 (*$"'%/*+9$*7$S=Z$7)'8#6$/*$0*4(/$)$%',1
.')889$ ;+#;)+#6$ )88#+,#(%$ )+#$ .4++#(/89 ),(*%/'.$ /**8<$ !"#$ ;)/'#(/$ '%$ /)4,"/$ /* ('?.)(/$ +#%;*(%#<DG$ !"#$ 8*.)8$ 890;"
[ZS$ );;+*>#6$ '($ /"#$ k('/#6$ @/)/#%$ 7*+ +#;#)/#689$ );;89$ /"#$ .*00#+.')8$ ;+*61 (*6#$)%%)92$-"'."$4%#%$)$0*4%#$0*6#82
4%#$ '($ )$ ;+#8*)6#6$ %9%/#0<$ S$ ;#+4%)8$ *7 4./$/*$'(/)./$(*+0)8$%&'($K%)0#$%'/#L$%#>1 )88*-%$ `4)(/'/)/'>#$ )%%#%%0#(/$ *7$ /"#
!):8#$AO1A$0)&#%$'/$);;)+#(/$/")/$(#)+89 #+)8$/'0#%$6)'89$7*+$A$/*$\$-##&%$/*$#8'.'/ %#(%'/'H'(,$ ;*/#(.9$ *7$ )88#+,#(%<DB$ n*-1
")87$ *7$ /"#$ /*;$ \D$ )88#+,#(%$ '($ T*+/" )$+#)./'*(<$ #>#+2$;)/."$/#%/'(,$+#0)'(%$/"#$*(89$+#8'1
S0#+'.)$ )+#$ (*/$ )>)'8):8#$ *($ /"#$ .*01 ):8#$:'*)%%)9$/*$)%.#+/)'($%#(%'/'H)/'*($/*
0#+.')889$ 0)6#$ /+)9%$ '($ /"#$ k('/#6 /CN[46PZ[0S0`45 CHE5 /CN[46H41CS0`45 346 #5*,#(*4%$."#0'.)8%<$
@/)/#%<$ !"#$ !<R<k<U<$ K!"'(18)9#+$ R);'6 [2NS[ T*$'($>'>*$/#%/$'%$'(7)88':8#2$)(6$'(1
k%#$U;'.4/)(#*4%L$!#%/$")%$\$;)(#8$/+)9%< >#%/',)/'>#$;)/."$/#%/#+%$04%/$)8-)9%$/)&#
!"4%2$ '(>#%/',)/*+%$ -"*$ '(/#(6$ /*$ 74889 '(/*$.*(%'6#+)/'*($/"#$;*%%':'8'/9$*7$7)8%#1 9744&'&8%7#;(97#:83+7+
#>)84)/#$ /"#'+$ ;)/'#(/%$ 04%/$ ;+#;)+#$ )81 ;*%'/'>#$)(6$7)8%#1(#,)/'>#$+#)./'*(%$-"#(
&EP=-,C>JA(9=D-,C>A=A
8#+,#($ /+)9%$ -'/"$ -*+86-'6#$ %/)(6)+61 ;#+7*+0'(,$/"#$;)/."$/#%/<
'H#6$ .*00#+.')889$ )>)'8):8#$ )88#+,#(% _#.)4%#$ /"#+#$ )+#$ 0*+#$ /")($ OCEE !"#$ 6'77#+#(/')8$ 6'),(*%'%$ *7$ S=Z$ '(1
)(6$)66$;)/'#(/1%;#.'?.$/#%/$0)/#+')8%$7*+ ;*/#(/')8$"40)($)88#+,#(%2$)(6$:#.)4%# .846#%$)$-'6#$+)(,#$*7$'(3)00)/*+9$%&'(
.*0;8#/#(#%%<$ =*0;*4(6'(,$ +#7#+#(.# *7$ /"#$ *:>'*4%$ 8'0'/)/'*($ *7$ /"#$ .*01 6'%*+6#+%$K%##$_*5$AO1AL<$!"#$;+#%#(.#$*7
/#5/%$ *4/8'('(,$ );;+*;+')/#$ )88#+,#($ .*(1 0#+.')889$)>)'8):8#$%.+##('(,$/+)9%$%4." #*%'(*;"'8'.$ %;*(,'*%'%$ )(6$ 048/'(4.8#1
.#(/+)/'*(%$)(6$>#"'.8#%$)+#$)>)'8):8#<DE )%$ !<R<k<U<$ !#%/$ Kf):'$ b")+0).')$ @#+1 )/#$6#+0)8$6#(6+'/'.$?:+*"'%/'*.9/'.$.#88%
>'.#$SV@2$n'88#+*62$Z#(0)+&L$)(6$S88#+1 '%$ #%;#.')889$ %4,,#%/'>#$ *7$ S=Z$ -"#(
S3246PZ[0S0`45 CHE5 S3246H41CS0`45 346 ,#($ b)/."$ !#%/$ f'/$ Kn#+0)8$ W):*+)/*1 #(.*4(/#+#6$'($/"#$;+#%#(.#$*7$).)(/"*1
[2NS[ !"#$ '6#(/'?.)/'*($ *7$ /+4#1;*%'1 +'#%2$ Z#80)+2$ T^YS0#+'.)($ S.)6#09 %'%2$ 890;"*.9/'.$ '(?8/+)/#2$ 6#+0)8$ #*%'(1
/'>#$ +#)./'*(%$ -'/"$ .8'('.)8$ +#8#>)(.#$ '% *7$ Z#+0)/*8*,9L2$ '/$ %/)(6%$ /*$ +#)%*( *;"'8%2$)(6$"9;#+&#+)/*%'%<eE
!97
8>0=EP=-,C>JA(d,D@,0CA /#%/$ -)%$ ;#+7*+0#6$ *($ ;)/'#(/%$ 7*+ >)+'):8#%$/")/$'(34#(.#$;+*,(*%'%<CA$!"#9
-"*0$/"#+#$-)%$)$"',"$'(6#5$*7$%4%;'1 %;#.'?.)889$ 8**$ )/$ /"#$ #77#./%$ *7$ ),#2
!"#$ ;)/"*8*,'.$ ?(6'(,%$ *7$ /"#$ (*(#.1 .'*($7*+$/"#$6'),(*%'%$*7$S=Z2$:#.)4%# %#52$ )/*;92$ ;)/'#(/$ &(*-8#6,#2$ 6'%#)%#
H#0)/*4%$ >)+')(/%$ *7$ S=Z$ 0)9$ :# '(.+#)%#6$8''"**6$*7$6#/#./'(,$)$.8'('1 #/'*8*,92$ 64+)/'*($ *7$ %90;/*0%2$ )(6
(#)+89$'6#(/'.)8$/*$/"*%#$*7$/"#$6'%#)%#% .)889$ +#8#>)(/$ )88#+,#($ .*++#8)/#%$ -'/"$ ) .")(,#$ *7$ >*.)/'*($ )(6$ 7*4(6$ (*$ 6'77#+1
/"#9$ %'048)/#<$ W'."#(*'6$ S=Z$ 6*#% %',('?.)(/89$:#//#+$.8'('.)8$*4/.*0#<eD #(.#%$+#8)/#6$/*$/"#%#$7)./*+%<$=")(,#$*7
")>#$ %*0#$ 7#)/4+#%$ /")/$ "#8;$ /*$ 6'%/'(1 -*+&$.*(6'/'*(%$'%$(*/$)8-)9%$)%%*.')/#6
,4'%"$ '/$ 7+*0$ '6'*;)/"'.$ 8'."#($ ;8)(4%2 -'/"$)($'0;+*>#6$;+*,(*%'%2$:#.)4%#$;)1
'(.846'(,$ )$ 8#%%$ '(/#(%#$ 8'."#(*'6$ '(?81 !>-FH@E,C@>0A(>I($,CE<(%=AC@01
/'#(/%$ 0)9$ %/'88$ (*/$ );;+*;+')/#89$ )>*'6
/+)/#$-'/"$0*+#$#*%'(*;"'8%$)(6$(#4/+*1 b)/'#(/$ 6'%);;*'(/0#(/$ '%$ )$ %',('?.)(/ /"#$ '(64.'(,$ )88#+,#(<$ [4+/"#+0*+#2
;"'8%2$ 8#%%$ #;'6#+0)8$ "9;#+;8)%')$ -'/" ;+*:8#0$ -'/"$ ;)/."$ /#%/'(,2$ :#.)4%# .")(,#$*7$#0;8*90#(/2$ )8/"*4,"$ '/$ 0)9
7#-#+$ (#.+*/'.$&#+)/'(*.9/#%2$)(6$ %*0# /"#+#$ '%$ (*$ ,4)+)(/##$ *7$ 6#/#./'*($ *7$ ) '0;+*>#$ S=Z2$ 0)9$ ")>#$ )$ 6'+#./$ (#,)1
6#,+##$ *7$ #;'6#+0)8$ %;*(,'*%'%<eA$ I( .8'('.)889$ +#8#>)(/$ )88#+,#($ *+$ *7$ %4:%#1 /'>#$'0;)./$*($`4)8'/9$*7$8'7#<C\
.*(/+)%/2$ UF18'&#$ S=Z$ ")%$ (*$ #;'6#+1 `4#(/$ %&'($ '0;+*>#0#(/$ -'/"$ )>*'61 S8/"*4,"$ )%%#%%0#(/$ *7$ /"#$ ;)/'#(/s%
0)8$%;*(,'*%'%2$)(6$/"#$?(6'(,%$)+#$'(1 )(.#$ *7$ )$ ,'>#($ )88#+,#(<$ !"#%#$ *4/1 &(*-8#6,#$ :)%#$ '%$ )$ 6'7?.48/$ /)%&2$ '/$ '%
6'%/'(,4'%"):8#$ 7+*0$ /"*%#$ *7$ UF$ 7+*0 .*0#%$)+#$)(/'.';)/#6$)(6$#5;#./#62$:4/ ,#(#+)889$ )..#;/#6$ /")/$ ,+#)/#+$ &(*-81
*/"#+$.)4%#%<$Z#+0)8$.*(/)./$"9;#+%#(1 (*/$ ,4)+)(/##6<$ [4+/"#+0*+#2$ /"#+#$ )+# #6,#$ .*++#8)/#%$ -'/"$ :#//#+$ .8'('.)8$ *4/1
%'/'>'/9$)8%*$8).&%$%;*(,'*%'%$:4/$")%$/"# %0)88$+'%&%$*7$.)4%'(,$)$3)+#$*7$/"#$6#+1 .*0#%<$ I($ )$ 7*88*-14;$ %/469$ :9$ S,(#+2
.")+)./#+'%/'.$ 890;"*"'%/'*.9/'.2$ ;#+'1 0)/'/'%$)(62$)8/"*4,"$+#0*/#2$*7$'(64.1 [89>"*802$ )(6$ F#((#2$ ;)/'#(/%$ 6'),1
>)%.48)+$'(?8/+)/#$/")/$*7/#($,*#%$6##;#+ '(,$%#(%'/'H)/'*($/*$*(#$*7$/"#$)88#+,#(%< (*%#6$ -'/"$ 7*+0)86#"96#$ )88#+,9$ -#+#
'($/"#$6#+0'%$K0'616#+0)8L$/")($#.H#01 b)/'#(/%$ %"*486$ :#$ 0)6#$ )-)+#$ /")/ +',*+*4%89$'(7*+0#6$):*4/$/"#'+$6'),(*%'%
)/*4%$ S=Z<$ !"#$ "'%/*;)/"*8*,'.$ 7#)1 ;*%'/'>#$ /#%/$ +#)./'*(%$ 0)9$ ;#+%'%/$ 7*+ )(6$/"#$.48;+'/$)88#+,#(2$)(6$,'>#($)($#51
/4+#%$ *7$ ).4/#$ )88#+,'.$ .*(/)./$ 8#4&*1 %#>#+)8$ -##&%2$ )(6$ '($ /"#$ .)%#$ *7$ ,*862 ;*%4+#$ )%%#%%0#(/$ 7*+$ /"#'+$ ;+*64./%<$S/
6#+0)$ ")>#$ (*/$ :##($ %/46'#6<$ I($ /"# %*0#/'0#%$ 8*(,#+<$ b*%/1'(3)00)/*+9 A1$ )(6$ D19#)+$ ;*%/Y;)/."$ /#%/$ 7*88*-14;2
:#%/16*.40#(/#6$.)%#%2$#.H#0)/*4%$;)/." "9;#+;',0#(/)/'*($ *+$ "9;*;',0#(/)1 /"#$;)/'#(/%$-#+#$'(/#+>'#-#6$)(6$#5)01
/#%/$ +#)./'*(%$ /*$ bbZ$ %4:%#`4#(/89$ 6#1 /'*($0)9$*..4+$)/$;*%'/'>#$;)/."$/#%/$+#1 '(#6$:9$/"#$6#+0)/*8*,'%/2$)(6$,'>#($74+1
;',0#(/#62$ )/$ -"'."$ /'0#$ /"#$ :'*;%9 )./'*($%'/#%<$ /"#+$ #5;*%4+#$ )%%#%%0#(/$ 7*+$ /"#'+$ .4+1
%;#.'0#($ -)%$ '(6'%/'(,4'%"):8#$ 7+*0 +#(/$;+*64./%<$S%$#5;#./#62$;)/'#(/%$-"*
/")/$7*+$."#0'.)889$'(64.#6$>'/'8',*<$S81 +#;*+/#6$(*/$;)9'(,$)//#(/'*($/*$/"#'+$)81
8#+,'.$ .*(/)./$ ;4+;4+)$ '%$ ;)/"*8*,'.)889 $'3:83+7+ 8#+,#(%$ -"#($ :49'(,$ *+$ 4%'(,$ .*(%40#+
%'0'8)+$ /*$ /"#$ #.H#0)/*4%$ >)+')(/$ *7 I/$'%$6'7?.48/$/*$)%%#%%$/"#$)./4)8$;+*,(*1 ;+*64./%$-#+#$ #5;*%#6$/*$ 7*+0)86#"96#
S=Z$ :4/$ -'/"$ )$ .);'88)+'/'%$ /")/$ +#%48/% %'%$ *7$ S=Z2$ :#.)4%#$ /"#+#$ '%$ (*$ %/)(1 '($ /"#'+$ .4++#(/$ ;+*64./%<$ [4+/"#+0*+#2
'($#5/+)>)%)/'*($*7$+#6$:8**6$.#88%<e\$I/$'% 6)+6'H#6$'(%/+40#(/$7*+$%4."$)($#>)81 ;)/'#(/%$-"*$+#;*+/#689$;)'6$)//#(/'*($/*
6'7?.48/$/*$ %#;)+)/#$7+*0$ /"#$*/"#+$;',1 4)/'*(<$ t4)8'/91*718'7#$ `4#%/'*(()'+#% )>*'6'(,$ /"#'+$ )88#+,#(%$ ")6$ %/)/'%/'.)889
0#(/#6$;4+;4+'.$6#+0)/*%#%< K-"'."$ 0#)%4+#$ %90;/*02$ #0*/'*()82 7#-#+$3)+#%$*7$/"#'+$6#+0)/'/'%<CO
I($ )88$ *7$ /"#$ (*(#.H#0)/*4%$ )(6$ #.1 )(6$ 74(./'*()8$ ;)+)0#/#+%L2$ (40:#+$ *7 k%#$ *7$ /"#$ =*(/)./$ S88#+,#($ R#;8).#1
H#0)/*4%$>)+')(/%$*7$S=Z2$;)/."$/#%/'(, *4/;)/'#(/$ 6#+0)/*8*,9$ >'%'/%2$ )(6$ %4:1 0#(/$Z)/):)%#$/**8$)88*-#6$7*+$)$8*-#+
'%$/"#$*(89$0#)(%$7*+$)..4+)/#$6'),(*%'%< M#./'>#$ #>)84)/'*(%$ ")>#$ )88$ :##($ 4%#6< 0#)($ .*4(%#8'(,$ /'0#$ )(6$ "',"#+$ 8#>#8%
!"#$ "'%/*+92$ ;"9%'.)8$ #5)0'()/'*(2$ )(6V I($ 7)./2$ 04."$ *7$ /"#$ '(7*+0)/'*($ *( *7$;)/'#(/$%)/'%7)./'*(2$)8/"*4,"$(*$%/)/'%1
*+$;)/"*8*,9$)+#$4%4)889$(*/$6'),(*%/'.< ;+*,(*%'%$ '%$ #5/+);*8)/#6$ 7+*0$ 6)/)$ *( /'.)889$%',('?.)(/$6'77#+#(.#%$-#+#$(*/#6
*..4;)/'*()8$ .*(/)./$ 6#+0)/'/'%2$ :#1 *($.8'('.)8$0#)%4+#%$*7$6'%#)%#$)./'>'/9<Cc
.)4%#$ *7$ /"#$ '0;*+/)(/$ '0;8'.)/'*(%$ 7*+ T'#8%#($ #/$ )8<$ ;#+7*+0#6$ )$ .+*%%1
!35$;7!#%738+ -*+&#+s%$ .*0;#(%)/'*(<$ I/$ '%$ '0;*+/)(/ %#./'*()8$ %/469$ *($ )$ +)(6*0$ %)0;8#$ *7
/*$(*/#$/")/$/"#%#$6)/)$)+#$%4:M#./$/*$%#1 DeC$ ;#+%*(%$ K),#6$ AD$ /*$ eB$ 9#)+%L$ )(6$ )
!>-FH@E,C@>0A(>I(8>C($,CE<(%=AC@01
8#./'*($ :')%2$ :#.)4%#$ 0*%/$ %/46'#%$ )+# %4:%#`4#(/$+#;#)/$;)/."$%/469$*($OeD$KeG
I($\EEc$/"#$S0#+'.)($S.)6#09$*7$Z#+1 '(>#%/',)/'(,$ ;)/'#(/%$ -"*$ )+#$ :#'(, ;#+.#(/L$ *7$ /"#$ *+','()8$ ;*;48)/'*(<$ b*%'1
0)/*8*,9$)(6$/"#$@*.'#/9$7*+$I(>#%/',)1 #>)84)/#6$ )/$ )$/#+/')+9$ .)+#$ .*(/)./$ 6#+1 /'>#$ ;)/."$/#%/$ +#%48/%$ -#+#$+#1.*(?+0#6
/'>#$ Z#+0)/*8*,9$ 6#/#+0'(#6$ /")/$ C\ 0)/'/'%$+#7#++)8$.8'('.<eC '($ CA$ ;#+.#(/$ *7$ /"#$ %4:M#./%$ KOC$ *4/$ *7
0'88'*($S0#+'.)(%$-#+#$8'>'(,$-'/"$.*(1 S80*%/$ /-*$6#.)6#%$ ),*2$/"#$;+*,(*1 D\L$ G$ 9#)+%$ )7/#+$ /"#$ :)%#8'(#$ %/469<
/)./$6#+0)/'/'%$)(6$/")/$'/$-)%$/"#$/"'+6 %'%$ 7*+$ *..4;)/'*()8$ .*(/)./$ 6#+0)/'/'% T'.$ ;+*>*$ /"#$ "',"#%/$ 7+#`4#(.9
0*%/$ .*00*($ +#)%*($ 7*+$ ;)/'#(/%$ /* -)%$+#8)/'>#89$;**+2$-'/"$*(89$OE$;#+.#(/ *7$ ;*%'/'>#$ +#)./'*(%$ )/$ CB$ ;#+.#(/$ KAB
%##&$ .*(%48/)/'*($ -'/"$ /"#$ 6#+0)/*8*1 /*$ DE$ ;#+.#(/$ *7$ ;)/'#(/%$ 6#0*(%/+)/'(, *4/$ *7$ \c$ %4:M#./%L2$ -"#+#)%$ .*%0#/'.
,'%/<$ I/$ )..*4(/#6$ 7*+$ B<\$ 0'88'*($ >'%'/% '0;+*>#0#(/<eG$[*+/4()/#892$0*+#$+#.#(/ '(,+#6'#(/%$ ;+*64.#6$ /"#$ 8*-#%/$ 7+#1
/")/$ 9#)+2$ )/$ )$ .*%/$ *7$ qA<B$ :'88'*(<eO$ I( +#>'#-%$ 6#0*(%/+)/#$ /")/$ -'/"$ #)+89$ '(1 `4#(.92$ DE$ ;#+.#(/$ KD$ *4/$ *7$ AE$ %4:1
ABGB2$ R'#/%."#8$ 6#/#+0'(#6$ /")/$ ;)/." /#+>#(/'*($)(6$ );;+*;+')/#$0)(),#0#(/ M#./%L<$P7$(*/#2$eE$;#+.#(/$K\A$*4/$*7$OD
/#%/'(,$/"#$D<C$0'88'*($;#+%*(%$#%/'0)/#6 *>#+$CD$;#+.#(/$*7$;)/'#(/%$+#.*>#+$-'/"1 %4:M#./%L$")6$)$;*%'/'>#$;)/."$/#%/$ +#).1
/*$ ")>#$ 6#+0)/'/'%V#.H#0)$ /+)(%8)/#6 *4/$ ;#+0)(#(/$ '0;)'+0#(/<eB$ !"'%$ 4;1 /'*($ /*$ *(#$ *+$ 0*+#$ )88#+,#(%<$ !"'%
'(/*$ )$ ;*%'/'>#$ .*%/1:#(#?/$ +)/'*$ *7$ qcE -)+6$ /+#(6$ /*-)+6$ )$ ;*%'/'>#$ ;+*,(*%'% %/469$.*(?+0#6$/"#$.*(/'(4#6$(##6$7*+
0'88'*($ /*$ qBE$ 0'88'*($ ;#+$ 9#)+2$ -"#( 0)9$ +#8)/#$ /*$ :#//#+$ '6#(/'?.)/'*($ *7$ )81 )88#+,#($)>*'6)(.#$/*$;+#>#(/$#8'.'/)/'*(
/"#$ #5;#(%#$ *7$ ;)/."$ /#%/'(,$ -)%$ .*01 8#+,#(%2$'0;+*>#6$%/)(6)+6'H)/'*($*7$/"# *7$S=Z<CD$ k(7*+/4()/#892$ /"#+#$ )+#$ 7).1
;)+#6$-'/"$/"#$.*%/$*7$/+#)/0#(/<ec$[4+1 6'),(*%/'.$/**8%2$'(.+#)%#6$;+#>#(/'>#$#71 /*+%$ /")/$ )+#$ :#9*(6$ /"#$ ):'8'/9$ *7$ /"#
/"#+0*+#2$ o)($ Z#+$ o)8&2$ Z#>*%2$ )(6 7*+/%2$)(6$;)/'#(/$#64.)/'*(<CE ;)/'#(/$ /*$ .*(/+*8$ /*$ :#.*0#$ %90;/*0
=*#(+))6%$ +#;*+/#6$ /")/$ ;)/."$ /#%/'(, =)"'88$#/$)8<$;#+7*+0#6$)($#5/#(%'>#$+#1 7+##<$!"#%#$'(.846#$/"#$()/4+#$K4:'`4'/9L
-)%$#>#($0*+#$.*%/$#77#./'>#$-"#($/"# >'#-$*7$/"#$8'/#+)/4+#$/*$'6#(/'79$.*00*( *7$ /"#$ )88#+,#($ '/%#87$ *+$ /"#$ '():'8'/9$ /*
!99
%"'#86$ /"#$ %&'($ 7+*0$ /"#$ #(>'+*(0#(/ .)8.'40$ ).#/)/#<$ ="+*('.2$ 8'."#('?#6
!"#$%&'*)*
K#<,<2$/"#$7).#$)(6$")(6%$)+#$)8-)9%$#51 #+4;/'*(%$ )+#$ :#%/$ /+#)/#6$ -'/"$ #0*81
E%%N/)G(N)=%,'+G2):-#$/)*#,%.-#N)-%)
;*%#6L<$ R#;*+/%$ '(6'.)/#$ /")/$ %#(%'/'H)1 8'#(/%<$ b+4+'/4%$ .)($ :#$ .*(/+*88#6$ -'/"
<.%F%&#)*#G+-'%(/)'()<#./%(/)B22#.3'+)
/'*($/*$('.R$."+*0'402$)(6$#;*59$)+# /*;'.)8$ )(/';+4+'/'.%$ *+$ *+)8$ )(/'"'%/)1
-%)E.G3.G(+#)G(N)1G2/G$)%I)<#.J
%;#.'?.)889$)%%*.')/#6$-'/"$)$8#%%$7)>*+1 0'(#%2$ :4/$ /*;'.)8$ )(/'"'%/)0'(#%$ )(6
):8#$ ;+*,(*%'%2$ #%;#.')889$ '7$ .*(/)./$ '% )(#%/"#/'.%$)+#$:#%/$ )>*'6#6$:#.)4%#$ *7 o %>-,C>=A o 4H,G>D=B(C=,AS(E>IM
*..4;)/'*()889$ +#8)/#62$#>#($ -"#($ .*(1 /"#$+'%&$*7$'(64.'(,$)$%#.*(6)+9$)88#+,9 o !@CDJA(IDJ@CA I==S(,0B(C>Q,EE>
/'(4#6$#5;*%4+#$.#)%#%<Ce2CC '($)8+#)69$6#+0)/'/'.$%&'(< o +F@E=A(AJE<(,A(E@0M o 9=>B>D,0CA(
F#6'(,2$i+)(,%M*2$)(6$j)+>"*80$#>)81 Z#%;'/#$/"#$6+)-:).&%$)%%*.')/#6$-'/" 0,->0S(EH>G=AS(G,M o #IC=DMA<,G=(H>C@>0A
4)/#6$/"#$8*(,1/#+0$.*4+%#2$*..4;)/'*()8 /"#'+$ 8*(,1/#+0$ 4%#2$ .*+/'.*%/#+*'6%$ +#1 0@HH,S(0JC-=1S(EJDDOS( o !>0I=EC@>0,DO
+#8#>)(.#2$ )(6$ 0#6'.*1%*.')8$ '0;8'.)1 0)'($/"#$,*86$%/)(6)+6$)(6$/"#$0)'(%/)9 ,HHAF@E=S(F,FD@?,S( o %@0ECJD=(>I(Q=0P>@0
/'*(%$ *7$ ")(6$ 6#+0)/'/'%$ '($ ;)/'#(/%$ 6'1 7*+$ )88#>')/'(,$ %90;/*0%$ )(6$ ")%/#('(, ,0@A=S(,0B(1@01=D o !>H,A(,0B(>C<=D(
),(*%#6$ /"+*4,"$ )$ ;+'*+$ ;*;48)/'*(1 /"#$+#.*>#+9$7+*0$S=Z$K%##$=");<$\AeL< o !<>E>H,C= A>IC(BD@0?A
:)%#6$ %/469<CG$ b)/'#(/%$ -#+#$ #>)84)/#6 !*;'.)8$ .*+/'.*%/#+*'6%$ K6'>'6#6$ '(/*$ ?># o !<@H@ o p>J0B(AFD,O(
4%'(,$ /-*$ `4#%/'*(()'+#%2$*(#$)60'('%1 %/#+#*."#0'.)8$ %/+4./4+)8$ .8)%%#%2$ #)." o Y==D(,0B(/@0= o 5=B@E@0,H(ED=,-A
/#+#6$ )/$ :)%#8'(#$ )(6$ *(#$ )60'('%/#+#6 -'/"$ %'0'8)+89$ :+*)6$ 0#.")('%0%$ *7$ ).1 o d@0=1,D o !,H,-@0=(H>C@>0
AD$9#)+%$8)/#+<$P7$/"#$;)/'#(/%$-"*$.*01 /'*($)(6$#77#./'>#(#%%OGL$")>#$:##($%"*-( o 9,@DO(FD>BJECA o Y,QO(F>/B=D
;8#/#6$ :*/"$ `4#%/'*(()'+#%2$ ee$ ;#+.#(/ '($)$(40:#+$*7$0*6#8%$/*$+#64.#$/"#$%',(% o !>II== o 9=0C,H(E=-=0C
+#;*+/#6$;#+'*6'.$#5).#+:)/'*(%$*7$/"#'+ )(6$ %90;/*0%$ *7$ S=Z<GE$ [4+/"#+0*+#2 o Y,?=B(1>>BA( o +J0AED==0A
."+*('.$ ")(6$ #.H#0)$ Kcc$ ;#+.#(/$ *7 /"#9$ )+#$ ,#(#+)889$ -#88$ /*8#+)/#6$ -"#( o "=->DD<>@B,H( o !>J1<(-=B@E@0=
-"'."$ ")6$ :##($ -'/"'($ /"#$ ;+#>'*4% 4%#6$ %"*+/$ /#+0<$ W*(,1/#+0$ )(6$ -'6#1 AJFF>A@C>D@=A o ;>P=01=A
9#)+L2$ -"#+#)%$ A\$ ;#+.#(/$ #5;#+'#(.#6 %;+#)6$ 4%#$ *7$ /*;'.)8$ %/#+*'6%2$ "*-#>#+2 o 4D,1D,0E=B(F=DM o +J0C,0(H>C@>0A
.*(/'(4*4%$ %90;/*0%<$ !"#%#$ ?(6'(,% .)($+#%48/$'($.4/)(#*4%$)/+*;"92$"'+%4/'%02 A>0,H(<O1@=0=(FD>BM o ;@F(FD=F,D,C@>0A
4(6#+%.*+#$ /"#$ *>#+-"#80'(,$ ."+*('.1 "9;*;',0#(/)/'*(2$ 7*88'.48'/'%2$ ).(#2$ )(6 JECA(,0B(E>A-=C@EA
'/9$ *7$ 0*%/$ ")(6$ 6#+0)/'/'%$ .)%#%<$ b+#1 %9%/#0'.$):%*+;/'*(<$!"#$4%#$*7$%9%/#0'.
6'./'>#$7)./*+%$7*+$")(6$#.H#0)$%#>#+'/9 .*+/'.*%/#+*'6%2$*($/"#$*/"#+$")(62$'%$-)+1 9,C,(ID>-(+D@G,AC,G,(9S(!<,01(j%S(6J-,D(+S(!><=0(
-#+#$ )8%*$ )%%#%%#6$ 4%'(,$ )$ 8*,'%/'.$ +#1 +)(/#6$ *(89$ '($ 0*6#+)/#$ /*$ %#>#+#$ ).4/# 9&.(7B=0C@KE,C@>0(>I(C<=(E>0AC@CJ=0CA(>I(Q,HA,-(>I(
$=DJ(@0(C>-,C>=A.(2("#%0*0*) !FnNa)S(*NNV.(3D,H((
,+#%%'*($ 0*6#8<CB$ !"#$ 0*%/$ '0;*+/)(/ .)%#%$)(6$'($.)%#%$*7$+#7+)./*+9$S=Z< FD=A=0C,C@>0S(,QACD,ECZ(,0B(+,H,-(%8S(4>/H=D(l4n(
;+#6'./'>#$7)./*+%$7*+$;#+%'%/#(.#$*7$6'%1 I($/"#$;)%/$6#.)6#2$.)8.'(#4+'($'("':'1 Y,HA,-MD=H,C=B(AOAC=-@E(E>0C,EC(B=D-,C@C@A(.$-#$
#)%#$ -#+#$ )$ "'%/*+9$ *7$ ."'86"**6$ #.1 /*+%$ ")>#$ :##($ 4%#6$ )%$ /+#)/0#(/$ *;1 -1%&$2("#%0+3 9BnWXXS(*NN).
H#0)2$ )$ ,+#)/#+$ #5/#(/$ *7$ #.H#0)$ '(1 /'*(%$7*+$0)(9$'(3)00)/*+9$%&'($6'%*+1
>*8>#0#(/$)/$'('/')8$;+#%#(/)/'*(2$)(6$)( 6#+%<$ !"#'+$ 0#.")('%0$ *7$ )./'*($ '% 0*(/"%L2$ 0)'(/#()(.#$ /"#+);9$ -)%$ +#1
),#$ 9*4(,#+$ /")($ \E$ 9#)+%$ )/$ *(%#/$ *7 #8):*+)/#6$ '($ =");<$ \\A<$ P+)8$ .9.8*1 `4'+#62$)(6$.*(/+*8%$-#+#$(*/$;#+7*+0#6<
/"#$ ")(6$ #.H#0)<$ I($ )66'/'*($ /"#9 %;*+'(#$ )(6$ /*;'.)8$ /).+*8'04%$ )(6
7*4(6$ /")/$ ")(6$ 6#+0)/'/'%$ -)%$ )%%*.'1 ;'0#.+*8'04%$ ")>#$ 6#0*(%/+)/#6$ #7?1
)/#6$-'/"$.*(%'6#+):8#$)8/#+)/'*($*7$;%91 .).9$ '($ /"#$ /+#)/0#(/$ *7$ #.H#0)/*4% $'&d&8%738
."*%*.')8$ 74(./'*(2$ 7*+$ #5)0;8#2$ %8##; 6#+0)/'/'6#%2$ '(.846'(,$ )/*;'.$ 6#+0)/'1 b+#>#(/'*($ +#%/%$ *($ /"#$ )>*'6)(.#$ *7
6'%/4+:)(.#%$ KOe$ ;#+.#(/L$ )(6$ ")01 /'%$ ;+#6*0'()(/892$ )%$ -#88$ )%$ .*(/)./ )88#+,#(%<
;#+#6$ 8#'%4+#$ )./'>'/'#%$ KC\$ ;#+.#(/L<$ I( 6#+0)/'/'%<$ =9.8*%;*+'(#$")%$ :##($ 4%#6 S/$/'0#%2$/"#$%#(%'/'H)/'*($/*$)88#+,#(%
/"#$O$;#+.#(/$*7$;)/'#(/%$-"*$+#;*+/#6$) *+)889$/*$/+#)/$S=Z2$:4/$8'0'/#6$;#(#/+)1 %4."$ )%$ ('.$ )(6$ 7+),+)(.#$ ."#0'.)8%
(#.#%%)+9$ *..4;)/'*()8$ .")(,#$ %#.*(61 /'*($")%$"'(6#+#6$'/%$/*;'.)8$4%#<$I($ )61 8'&#$:)8%)0$*7$b#+4$.)($'(64.#$(*(18*.)81
)+9$/*$/"#'+$")(6$6#+0)/'/'%2$/"'%$.")(,# 6'/'*(2$ /).+*8'04%$ )(6$ ;'0#.+*8'04% 'H#6$+#)./'*(%$/"+*4,"$/"#'+$%9%/#0'.$):1
6'6$.*++#8)/#$-'/"$.8'('.)8$'0;+*>#0#(/< K-"'."$ %")+#$ )$ 0).+*8)./)0$ %/+4./4+#L %*+;/'*($ K!):8#$ AO1OL<$ I($ %*0#$ .'+.401
")>#$ ;+*>#6$ #7?.).'*4%$ )%$ /*;'.)8$ )(/'1 %/)(.#%2$/"#$)>*'6)(.#$*7$/"#%#$)88#+,#(%
'(3)00)/*+9$6+4,%< $ '($/"#$6'#/$.)($+#%48/$'($.8'('.)8$'0;+*>#1
%'&#%5&8%
0#(/<$ I($ )(9$ #>#(/2$ /"#$ /+#)/0#(/$ *7
!"#$ 74(6)0#(/)8$ 0)(),#0#(/$ *7$ ;)1 S=Z$ '%$ %'0;89$ )88#+,#($ )>*'6)(.#<$ I/$ '%
/'#(/%$-'/"$S=Z$+#8'#%$*($:*/"$/+#)/0#(/ $<>C>C<=D,FO
/"#$ ;+*.#%%$ *7$ #84.'6)/'(,$ )(6$ '0;8#1
*7$%90;/*0%$)(6$)>*'6)(.#$*7$)66'/'*()8 b"*/*/"#+);9$ ")%$ :##($ +#%#+>#6$ 7*+$ ;)1 0#(/'(,$ /"'%$ /+#)/0#(/$ ;8)($ /")/$ .)($ :#
#(.*4(/#+%$-'/"$)88#+,'.$.*(/)./)(/%< /'#(/%$-'/"$+#7+)./*+9$S=Z$-"*$)+#$4(+#1 %*$)+64*4%<$!"'%$.*(.#;/$'%$+#'(7*+.#6$:9
%;*(%'>#$/*$.*+/'.*%/#+*'6%$)(6$7*+$;)/'#(/% /"#$+#%48/%$*7$*(#$%/469$*7$\OE$-*+&#+%2G\
$<,D-,E>H>1@E(70C=DG=0C@>0 -"*$)+#$4():8#$/*$)>*'6$)88$;+*>*&'(,$7).1 '($-"'."$*(89$*(#1/"'+6$*7$%/469$;)+/'.'1
/*+%$ '($ /"#'+$ 6)'89$ #(>'+*(0#(/<$ @#>#+)8 ;)(/%$ )..4+)/#89$ +#.)88#6$ /"#'+$ 6'),(*%#%
I($ /"#$ 7).#$ *7$ ).4/#$ *+$ %90;/*0)/'. %/46'#%$ ")>#$ 6#0*(%/+)/#6$ /"#$ #77#./'>#1 )(6$ /+#)/0#(/$ +#,'0#(%2$ )(6$ ;#+%'%/#(/
."+*('.$ .*(/)./$ 6#+0)/'/'%2$ ;")+0).*1 (#%%$*7$48/+)>'*8#/$8',"/$K*+)8$;%*+)8#($;84% 6#+0)/'/'%$-)%$/"+##$/'0#%$0*+#$8'Y$'(
8*,'.$'(/#+>#(/'*($'%$(#.#%%)+9$/*$)88#>')/# 48/+)>'*8#/$ S$ ;"*/*."#0*/"#+);92$ )(6 /"*%#$-*+&#+%$-"*$.*486$(*/$+#0#0:#+
/"#$ %90;/*0%$ )(6$ ;"9%'.)8$ 8'0'/)/'*(% /"#+);9$ -'/"$ %"*+/-)>#$ 48/+)>'*8#/$ _ /"'%$ '(7*+0)/'*($ /")($ '($ /"*%#$ -"*$ 6'6<
'0;*%#6$:9$ /"#$#+4;/'*(<$ !"#$'0;)./$*7 8',"/L2$64#$/*$'/%$'(/+'(%'.$'004(*%4;;+#%1 !"#$:#(#?/$*7$)88#+,#($)>*'6)(.#$)(6$/"#
/"#$ 6#+0)/'/'%$ *($ /"#$ )./'>'/'#%$ *7$ 6)'89 %'>#$ ;+*;#+/'#%2$ '($ /"#$ /+#)/0#(/$ *7$ :*/" .*(%#`4#(.#%$ *7$ (*/$ 6*'(,$ %*$ )+#$ 6'%1
8'>'(,$ )(6$ /"#$ ):'8'/9$ /*$ ;#+7*+0$ -*+& ."+*('.$S=Z$)(6$I=Z$*7$/"#$")(6%<$[4+1 .4%%#6$'($/"#$b+*,(*%'%$%#./'*(<
74(./'*(%$04%/$(*/$:#$4(6#+#%/'0)/#6< /"#+0*+#2$ 48/+)>'*8#/$ _$ 8',"/$ /"#+);9$ -)% [*+$ .#+/)'($ )88#+,#(%$ 7*4(6$ '($ /*;'.)8
S.4/#$ >#%'.48)+2$ -##;'(,$ #+4;/'*(% %)'6$/*$;+*64.#$)($#5.#88#(/$#77#./$'($C$*7 ;+#;)+)/'*(%$ K#<,<2$ >#"'.8#%2$ ;+#%#+>)1
0)9$ :#(#?/$ 7+*0$ /"#$ 4%#$ *7$ 6+9'(, AE$ ;)/'#(/%$ -'/"$ ")(6$ S=Z<GA$ T*/):892 /'>#%2$ %/):'8'H#+%2$ )(6$ #048%'?#+%L2$ '/$ '%
),#(/%$%4."$)%$/*;'.)8$)840'(40$%487)/#V /"#$ /+#)/0#(/$ 64+)/'*($ -)%$ 8#(,/"9$ KD '0;*+/)(/$/*$ '0;+#%%$4;*($;)/'#(/%$/"#
!9B
(##6$ /*$ +#)6$ 8):#8%<$ I($ )66'/'*(2$ )$ ;#+'1 [4+/"#+0*+#2$%*0#$)88#+,#(%$0)9$:#$'(1 "),#($ S88#+,9$ @/4692$ Z#(0)+&<$ H3, @
*6'.)889$ 4;6)/#6$ #8#./+*('.$ 6)/):)%#$ *7 .*0;8#/#89$ 8):#8#6p$ 7*+$ #5)0;8#2$ ,'>#( D$3%05&1 $#&NcGC2$\EE\
A\< n#'(#$ a$ #/$ )8N$ [+#`4#(.9$ *7$ .*(/)./
'(,+#6'#(/%$ '($ .*%0#/'.%$ )(6$ *>#+1/"#1 /"#$;+*;+'#/)+9$()/4+#$*7$)$7+),+)(.#$7*+1 )88#+,9$ '($ a#+0)($ ."'86+#($ )(6$)6*8#%1
.*4(/#+$ )(6$ ;+#%.+';/'*($ /*;'.)8$ ;+#;)1 048)/'*(2$ '(6'>'64)8$ 7+),+)(.#%$ .*01 .#(/%$;)/."$/#%/#6$:#/-##($ABBDY\EE\N
+)/'*(%$ K=*(/)./$ S88#+,#($ R#;8).#0#(/ :'(#6$'($)$;+*64./$0)9$,*$4(8'%/#6<$b)1 R#%48/%$ 7+*0$ /"#$ I(7*+0)/'*($ T#/-*+&%
Z)/):)%#L$ '%$ )>)'8):8#$ *($ /"#$ I(/#+(#/ /'#(/%$ -'/"$ )($ )88#+,'.$ +#)./'*($ /*$ ) *7$ /"#$ Z#;)+/0#(/%$ *7$ Z#+0)/*8*,9
K"//;NVV---<.*(/)./6#+0<*+,L$ )(6$ )81 7+),+)(.#$ %"*486$ :#$ )6>'%#6$ /*$ 4%#$ 7+)1 )(6$ /"#$ a#+0)($ =*(/)./$ Z#+0)/'/'%
R#%#)+."$ a+*4;<$ +&)50"5, D$3%05(5(*
8*-%$ ;+)./'/'*(#+%$ /*$ ,#(#+)/#$ )$ 4('`4# ,+)(.#17+##$0)/#+')8%2$-"'."$'(.846#$(*/ "$NAAA2$\EEc
8'%/$ *7$ /*;'.)8$ ;+#;)+)/'*(%$ );;+*;+')/# *(89$/*;'.)8$;+#;)+)/'*(%$:4/$)8%*$)$>)+'1 \A< 6#$ a+**/$ S=N$ :05"#, 5$*5()4I, J$*5, +&)!
7*+$/"#$'(6'>'64)8$-'/"$%;#.'?.$)88#+,'#%< #/9$ *7$ */"#+$ ;+*64./%$ %4."$ )%$ /*'8#/$ ;)1 "$)5305(&)*, 0)8, K$#("1$*, /&3, LMNN, C11$3!
b)/'#(/%$ -'/"$ )88#+,'#%$ /*$ ;+#%#+>)/'>#% ;#+2$%)('/)+9$();&'(%2$)(6$6');#+%< 4$)*2$ \(6$ #6<$ S0%/#+6)02$ U8%#>'#+2
ABBc
K#<,<2$0#/"98."8*+*'%*/"')H*8*(#L$04%/$:# _#.)4%#$0)(9$)88#+,#(%$%")+#$.*00*( OG< j).*:$ @U2$ @/##8#$ !N$ =*+/'.*%/#+*'6
)-)+#$/")/$/"#%#$0)/#+')8%$.)($:#$7*4(6$'( )(/',#('.$0*'#/'#%2$/"#$;)/'#(/$(##6%$/*$:# .8)%%#%N$S$`4'.&$+#7#+#(.#$,4'6#$'(.8461
)(9$ -)/#+1:)%#6$ 7*+048)/'*(2$ %4."$ )%$ 8)1 '(%/+4./#6$(*/$*(89$):*4/$/"#$&(*-($)88#+1 '(,$ ;)/."$ /#%/$ %4:%/)(.#%$ )(6$ .+*%%
/#5$;)'(/<$[4+/"#+0*+#2$/"#$()0#$,'>#($) ,#($:4/$)8%*$):*4/$;*%%':8#$.+*%%1+#)./'(, +#)./'>'/9<$ @, C%, C"08, D$3%05&1 "#NC\O2
."#0'.)8$ 4%#6$ '($ )$ .*%0#/'.$ *+$ ;")+0)1 )88#+,#(%<$ [*+$ #5)0;8#2$ /"#$ '(6'>'64)8$ )81 \EEe
OB< o#'#($ TfN$ I(,#%/#6$ 7**6$ '($ %9%/#0'.
.#4/'.)8$ ;+*64./$ '%$ 7+#`4#(/89$ .")(,#6 8#+,'.$/*$:#(H*.)'(#$04%/$:#$)-)+#$*7$/"# )88#+,'.$.*(/)./$6#+0)/'/'%<$+1(),D$3%05&1
-"#($ '/$ '%$ 4%#6$ '($ )($ '(64%/+')8$ ;+*64./< 0)(9$ ;*/#(/')889$ .+*%%1+#)./'(,$ %4:1 $"NDcC2$ABBC
[*+$ '(%/)(.#2$ /"#$ .*%0#/'.$ ;+#%#+>)/'># %/)(.#%2$ -"'."$ '(.846#$ ),#(/%$ )%$ 6'>#+%# cc< _#8%'/*$ ZoN$ !"#$ 6'),(*%/'.$ #>)84)/'*(2
`4)/#+('401AD2$-"#($4%#6$'($'(64%/+92$'% )%$*/"#+$ #%/#+$)(#%/"#/'.%$ K#<,<2$ ;+*.)'(#L2 /+#)/0#(/2$ )(6$ ;+#>#(/'*($ *7$ )88#+,'.
.*(/)./$ 6#+0)/'/'%$ '($ /"#$ (#-$ 0'88#(1
+#7#++#6$/*$)%$Z*-'.'8$AEE$*+$Z*-'.'8$\EE< .#+/)'($ 0#6'.)/'*(%$ K#<,<2$ %487*()0'6#%L2 ('40< @, C11$342, +1(), B%%-)&1 $'"NcEB2
b+)./'/'*(#+%$,4'6'(,$;)/'#(/%$/"+*4,"$/"# ")'+$ 69#%$ K#<,<2$ bbZL2$ /#5/'8#$ 69#%$ K#<,<2 \EEE
%9(*(90'.$ M4(,8#$ *7$ /"#%#$ ."#0'.)8%$ )+# )('8'(#$69#%L2$%*0#$%4(%.+##(%$K#<,<2$;)+)1 ce< !)98*+$j@2$ U+&#&$ UN$ W)/#5$ )88#+,9N$Z'),1
)6>'%#6$ /*$ .*(%48/$ %/)(6)+6$ /#5/%$ *($ /"# )0'(*:#(H*'.$).'6L2$)(6$*/"#+$;+*64./%< (*%'%$ )(6$ 0)(),#0#(/<$ D$3%05&1, J#$3
&N\GB2$\EEc
%4:M#./< !*$ 6)/#2$ "9;*%#(%'/'H)/'*($ *+$ /*8#+1
DO< T*+/"$ S0#+'.)($ =*(/)./$ Z#+0)/'/'%
k(7*+/4()/#89$7*+$;)/'#(/%$)(6$;"9%'1 )(.#$'(64./'*($")%$+#0)'(#6$)($#84%'># a+*4;$ ;)/."$ /#%/$ +#%48/%$ 7*+$ /"#$ 6#/#.1
.')(%$)8'$/"#$)88#+,#('.$.*0;*(#(/%$*7 0#/"*6$7*+$.*;'(,$-'/"$S=Z<$ /'*($*7$6#8)9#61/9;#$"9;#+%#(%'/'>'/9$/*
0)(9$ 0)/#+')8%$ -'88$ 7)'8$ /*$ :#$ 8):#8#6 /*;'.)8$ )88#+,#(%<$ C%, @, +&)50"5, D$3%05&1
K#<,<2$+4::#+12$/#5/'8#12$)(6$0#/)81+#8)/#6 $"NACe2$\EEc
)88#+,#(%2$/*$()0#$)$7#-L<$I($.*4(%#8'(, 6&j('&4&'&8!&+ Dc< =*"#($ ZU$ #/$ )8N$ k/'8'/9$ *7$ )$ %/)(6)+6
)88#+,#($%#+'#%$)8*(#$'($/"#$#>)84)/'*($*7
;)/'#(/%$-'/"$+#)./'*(%$/*$/"#%#$0)/#+'1 )88#+,'.$.*(/)./$6#+0)/'/'%N$S$+#/+*%;#.1
)8%2$/"#$;"9%'.')($04%/$;+*>'6#$'(7*+0)1
%<=(IJHH(D=I=D=0E=(H@AC(I>D(,HH(E<,FC=DA( /'>#$ %/469$ *7$ CO\$ ;)/'#(/%<$ @, C%, C"08
/'*($ ):*4/$ -")/$ &'(6%$ *7$ ;+*64./%$ )+# @A(,G,@H,QH=(,C(///.B@1-X.E>-. D$3%05&1 !(NBAc2$ABBC
Cc< f'%/$ jF$ #/$ )8N$ !"#$ =*(/)./$ S88#+,#(
8'Y$/*$.*(/)'($/"#$)88#+,#(%2$)%$-#88$)% c< T'#8%#($ Tn$ #/$ )8N$ I(.'6#(.#$ *7$ )88#+,'. R#;8).#0#(/$ Z)/):)%#$ )(6$ /+#)/0#(/
);;+*;+')/#$ +#;8).#0#(/%<$ @4."$ '(7*+1 .*(/)./$ %#(%'/'H)/'*($ '($ Z)('%"$ )648/% *7$ )88#+,'.$ .*(/)./$ 6#+0)/'/'%<$ C3"#, D$3!
0)/'*($.)($:#$7*4(6$'($%/)(6)+6$/#5/%<DE :#/-##($ ABBE$ )(6$ ABBGp$ /"#$ =*;#(1 %05&1 $#'NAccG2$\EEc
/012345!967 CG($D>0>J0E=B(/==F@01(,0B(EDJAC@01(>I(=EP=-,M
C>JA( H=A@>0A( @0( E<@HB<>>B( ,C>F@E( B=D-,C@C@A.( OG( &]E>D@,C=B( F,FJH=A
C ,0B(EDJAC@01(@0(,0(,EJC=(R,D=(>I(,C>F@E(B=D-,C@C@A.
!B8
)(6$ +#.4++#(/$ %#>#+#$ :)./#+')8$ '(7#.1
/'*(%<$!"#$"9;#+1I,U$%9(6+*0#$'%$.")+1
)./#+'H#6$:9$#8#>)/#6$%#+40$I,U$8#>#8%2
6#7#./'>#$ !1.#88$ 74(./'*(2$ +#.4++#(/
6##;1%#)/#6$ :)./#+')8$ '(7#./'*(%2$ '(1
.846'(,$ .4/)(#*4%$ ):%.#%%#%$ 64#$ /*$ PQ
0-3$-*$ )(6V*+$ ;+4+'/'.$ %&'($ 6'%#)%#$ 64#
/* PQ, 0-3$-*$ ;4%/48*%'%2$ *+$ :9$ +#.)8.'1
/+)(/$6#+0)/*;"9/*%'%<$S$;);48*;4%/41
8)+$ #+4;/'*($ *7$ /"#$ 7).#$ )(6$ %.)8;$ 0)9
:#$ %##($ '($#)+89$8'7#<cO$S8/"*4,"$PQ, 0-!
3$-*$ '%$ )($ '0;*+/)(/$ ;)/"*,#($ '($ /"'%
6'%*+6#+2$ '(7#./'*($ -'/"$ */"#+$ :)./#+')2
>'+4%#%2$ )(6$ 74(,'$ 0)9$ *..4+2$ ;)+/'.41
/012345!96- !<@HB<>>B( ,C>F@E( B=D-,C@C@A( /@C<
/012345!96F 70KHCD,C=BS( =DOC<=-,C>JA( I,E@,H 8)+89$-"#($;)/'#(/%$)+#$*($."+*('.$)(/'1
H@E<=0@KE,C@>0(>I(,0C=EJQ@C,H(I>AA,=(,0B(1=0=D,H@P=B %/);"98*.*..)8$ )(/':'*/'.$ ;+*;"98)5'%<
A?@0(/@C<( AE,H@0=AA(@0(,0(,B>H=AE=0C(/@C<(,C>F@E
A=G=D=HO(FDJD@C@E(=EP=-,C>JA(FH,fJ=A. P/"#+$ 7#)/4+#%$ *7$ "9;#+1I,U$ %9(6+*0#
B=D-,C@C@A.(8>C=(H,C=D,H(C<@00@01(>I(=O=QD>/A(,0B
@0CD,M>EJH,D(T9=00@=M5>D1,0U(I>HB. '(.846#$ ;(#40*(')$ -'/"$ ;(#40)/*1
6'>'64)8%$ -'/"$ SZ$ 7+*0$ /"#$ 4()77#./#6 .#8#$ 7*+0)/'*(2$ 6#(/)8$ )(*0)8'#%$ -'/"
;"'8%<$!"#%#$?(6'(,%$8'Y$+#3#./$)$%9%1 ,#(#+)8$ ;*;48)/'*(<$ o)+'*4%$ 6'),(*%/'. +#/)'(#6$;+'0)+9$ /##/"2$:*(#$ 7+)./4+#%2
/#0'.$ !"\$ '004(#$ +#%;*(%#$ '($ SZ .+'/#+')$ ")>#$ :##($ ;+*;*%#6$ /*$ )%%'%/ )(6$*%/#*;#(')<
#%;#.')889$ /"*%#$;)/'#(/%$ -"*$")>#$ #8#1 -'/"$.8'('.)8$6'),(*%'%2$6#?('/'*($*7$;)1 I/$ '%$ '0;*+/)(/$ /*$ +#.*,('H#$ /")/$ )(
>)/#6$%#+40$I,U$8#>#8%<$I0;*+/)(/892$/"# /'#(/%$7*+$.8'('.)8$%/46'#%2$)(6$#;'6#0'*1 )648/$-"*$;+#%#(/%$-'/"$)($#.H#0)/*4%
;#+';"#+)8$ :8**6$ %&'($ "*0'(,$ =WSd$ ! 8*,'.$;*;48)/'*($%/46'#%<cA$S$+#?(#6$8'%/ 6#+0)/'/'%$-'/"$(*$"'%/*+9$*7$."'86"**6
.#88%$ '($ SZ$ #5;+#%%'(,$ #'/"#+$ =Zc$ *+ *7$6'),(*%/'.$.+'/#+')$ %4'/):8#$ 7*+$ #;'6#1 #.H#0)2$ +#%;'+)/*+9$ )88#+,92$ *+$ )/*;'.
=ZG$%;*(/)(#*4%89$%#.+#/#$IW1D$)(6$IW1 0'*8*,'.$ %/46'#%$ ")%$ :##($ 6#+'>#6$ )(6 7)0'89$"'%/*+9$0)9$")>#$)88#+,'.$.*(/)./
AO2$ -"'."$ 74(./'*()889$ ;+*8*(,$ #*%'(*1 >)8'6)/#6$ :9$ -*+&#+%$ '($ /"#$ k('/#6 6#+0)/'/'%<$S$.*(/)./$)88#+,#($%"*486$:#
;"'8$%4+>'>)8$)(6$'(64.#$I,U$%9(/"#%'%< f'(,6*0<c\ .*(%'6#+#6$ '($ )(9$ ;)/'#(/$ -"*%#$ SZ
_*5$Ac1A$8'%/%$)$(40:#+$*7$'(3)00)1 6*#%$ (*/$ +#%;*(6$ /*$ );;+*;+')/#$ /"#+1
/*+9$%&'($6'%#)%#%2$'004(*6#?.'#(.'#%2 );9<$ P7$ (*/#2$ .*(/)./$ )88#+,9$ /*$ /*;'.)8
97#:83+7+(#89( %&'($0)8',()(.'#%2$,#(#/'.$6'%*+6#+%2$'(1 ,84.*.*+/'.*'6%$ )(6$ /*;'.)8$ .)8.'(#4+'(
9744&'&8%7#;(97#:83+7+ 7#./'*4%$ 6'%#)%#%2$ )(6$ '(7#%/)/'*(%$ /")/ '("':'/*+%$")%$:##($+#;*+/#6$'($;)/'#(/%
!):8#$ Ac1A$ 8'%/%$ /"#$ .8'('.)8$ 7#)/4+#%$ *7 %")+#$ %90;/*0%$ )(6$ %',(%$ -'/"$ SZ< -'/"$."+*('.$6#+0)/'/'%<$I($)66'/'*(2$.41
SZ<$P7$/"#$0)M*+$7#)/4+#%2$;+4+'/4%$)(6 !"#%#$ %"*486$ :#$ .*(%'6#+#6$ )(6$ +48#6 /)(#*4%$!1.#88$890;"*0)$04%/$:#$+48#6
."+*('.$*+$+#0'//'(,$#.H#0)/*4%$6#+0)1 *4/$ :#7*+#$ )$ 6'),(*%'%$ *7$ SZ$ '%$ 0)6#< *4/$'($)(9$)648/$;+#%#(/'(,$-'/"$."+*('.
/'/'%$-'/"$/9;'.)8$0*+;"*8*,9$)(6$6'%/+'1 I(7)(/%$;+#%#(/'(,$'($/"#$?+%/$9#)+$*7$8'7# 6#+0)/'/'%$ ;**+89$ +#%;*(%'>#$ /*$ /*;'.)8
:4/'*($)+#$#%%#(/')8$7*+$6'),(*%'%<$P/"#+ -'/"$7)'84+#$/*$/"+'>#2$6')++"#)2$)$,#(#+1 ,84.*.*+/'.*'6$ /"#+);9<$ I6#)8892$ :'*;%'#%
7#)/4+#%2$'(.846'(,$#5*,#(*4%$)88#+,9$*+ )8'H#6$ %.)8'(,$ #+9/"#0)/*4%$ +)%"2$ )(6 %"*486$:#$*:/)'(#6$7+*0$/"+##$%#;)+)/#
#8#>)/#6$ I,U2$ )+#$ >)+'):8#2$ )(6$ %*0#$ *7 +#.4++#(/$.4/)(#*4%$)(6V*+$%9%/#0'.$'(1 %'/#%2$ :#.)4%#$ /"#$ "'%/*8*,9$ 0)9$ %"*-
/"#$ g)%%*.')/#6$ 7#)/4+#%h$ '($ /"#$ /):8# 7#./'*(%$ %"*486$ :#$ #>)84)/#6$ 7*+$ %#>#+# %;*(,'*%'%$ )(6$ .#8848)+$ '(?8/+)/#$ %'0'8)+
0)9$ (*/$ :#$ 4%#748$ 6'%.+'0'()/*+%$ *7$ '(1 .*0:'(#6$ '004(*6#?.'#(.9$ %9(6+*0#< /*$SZ<$U.H#0)/*4%$6#+0)/'/'%$")%$:##(
i'%&*//1S86+'."$ %9(6+*0#$ '%$ )($ J1 )8%*$+#;*+/#6$-'/"$"40)($'004(*6#?1
8'($ +#.#%%'>#$ 6'%*+6#+$ .")+)./#+'H#6 .'#(.9$>'+4%$)%$-#88$)%$-'/"$)$>)+'#/9$*7
:9$ .4/)(#*4%$ ?(6'(,%$ )80*%/$ '(6'%/'(1 '(7#%/)/'*(%$%4."$)%$%.):'#%<$P/"#+$.*(1
,4'%"):8#$7+*0$SZ<$I/$'%$)%%*.')/#6$-'/" 6'/'*(%$ /")/$ .)($ :#$ .*(74%#6$ -'/"$ SZ
/"+*0:*.9/*;#(')2$ >)+'):8#$ ):(*+0)8'1 '(.846#$;%*+')%'%2$'."/"9*%#%2$)(6$%#:*+1
/'#%$ '($ "40*+)8$ )(6$ .#8848)+$ '004('/92 +"#'.$6#+0)/'/'%<
/012345!96# 7CE<@01(@0I,0C(/@C<(,C>F@E(B=D-,M
C@C@A.(T2A=B(/@C<(F=D-@AA@>0(ID>-(3<>H-(;,DA=0S(59.U( /012345!96. %OF@E,H(F,FJH=AS(G=A@EH=AS(,0B(=D>A@>0A(A==0(@0(,C>F@E(<,0B(B=D-,C@C@A.
!B!
#+,&'-)' )88$ ),#%2$ +#%48/'(,$ '($ f);*%'$ >)+'.#88'7*+0
#+4;/'*($*+$#.H#0)$"#+;#/'.40<$S7/#+$)(
C'II#.#(-'G2)C'G3(%/'/)%I)B-%,'+)C#.$G-'-'/ '(.4:)/'*($;#+'*6$*7$D$/*$A\$6)9%2$048/'1
!"#$%&'()*+ N4[[5$ZXXZHY3C345E0[Z3E43[5 ;8#2$'/."92$>#%'.48*;4%/48)+$8#%'*(%$#+4;/$'(
!>0C,EC(B=D-,C@C@A(T,HH=D1@E(,0B(@DD@C,0CU P34EZX0HCHSN]50H50H/CHS[Y$\0NE34H )$ 6'%%#0'()/#6$ ;)//#+(p$ >#%'.48)+$ 8#%'*(%
+=Q>DD<=@E(B=D-,C@C@A 5=C,Q>H@Eh0JCD@C@>0,H )+#$ 40:'8'.)/#62$ /#(6$ /*$ .+*;2$ )(6$ *7/#(
+E,Q@=A o($<=0OH?=C>0JD@, :#.*0#$ "#0*++"),'.$ )(6$ .+4%/#6$ K[',<
$A>D@,A@A o($D>H@B,A=(B=KE@=0EO Ac1AEL<$b4(."#6$*4/$)(6$#5/+#0#89$;)'(1
7E<C<O>A@A(GJH1,D@A o(5JHC@FH=(E,DQ>]OH,A=(B=KE@=0EO 748$#+*%'*(%$+#%48/<$!"#%#$8#%'*(%$0)9$.*)1
6=D,C>A@A(F@H,D@A( o(k@0E(B=KE@=0EO(T,ED>B=D-,C@C@A(=0C=D>M 8#%.#$/*$8)+,#2$6#(46#62$)(6$:8##6'(,$)+#)%
9=D-,C>F<OC>A@A F,C<@E,Z(FD=-,CJD@COZ(B=KE@=0C(QD=,AC(-@H?( /")/$.)($#5/#(6$*>#+$/"#$#(/'+#$:*69<
P@0EZ(EOAC@E(KQD>A@AU S8/"*4,"$ %0)88;*5$ '(7#./'*(%$ ")>#
,"-#'.)/ o(3C<=DAn(Q@>C@0S(=AA=0C@,H(I,CCO(,E@BAS( :##($#+)6'.)/#6$-*+86-'6#$%'(.#$/"#$8)/#
#AC=,C>C@E(=EP=-, >D1,0@E(,E@BJD@,A ABCE%2$ /"+#)/%$ *7$ :'*/#++*+'%0$ K-'/"
;@E<=0(A@-FH=](E<D>0@EJA $D@-,DO(@--J0>B=KE@=0EO(B@A>DB=DA %0)88;*5$ )(6$ */"#+$ '(7#./'*4%$ ),#(/%L
8J--JH,D(B=D-,C@C@A o(+=G=D=(E>-Q@0=B(@--J0>B=KE@=0EO( ")>#$0)6#$ ()/'*(%$+#.*(%'6#+$ /"#'+$;*8'1
lJG=0@H=(F,H-,DMFH,0C,D(B=D-,C>A@A B@A>DB=D .'#%$ /*-)+6$ '('/')/'(,$ >)..'()/'*($ ;+*1
7-F=C@1> o(9@:=>D1=(AO0BD>-= ,+)0%<$I($SZ$;)/'#(/%2$%0)88;*5$>)..'()1
9DJ1(=DJFC@>0A o("OF>1,--,1H>QJH@0=-@, /'*($ K*+$ #>#($ #5;*%4+#$ /*$ >)..'()/#6
$=D@>D,H(B=D-,C@C@A o(#1,--,1H>QJH@0=-@, '(6'>'64)8%L$K%##$=");<$ABDL$0)9$.)4%#$)
$@COD@,A@A(,HQ, o(p@A?>CCM#HBD@E<(AO0BD>-= %#>#+#$ -'6#%;+#)6$ #+4;/'*($ K.)88#6$ $"!
9$%0,>0""()05-%L$/")/$);;#)+%$>#+9$%'0'8)+
$<>C>A=0A@C@G@CO(B@A>DB=DA(T<OBD>,(G,EE@0@I>D-=Z( o(#C,]@,MC=H,01@=EC,A@,
/*$ #.H#0)$ "#+;#/'.40<$ !"4%2$ '($ ;)/'#(/%
F>HO->DF<>JA(H@1<C(=DJFC@>0S(F>DF<OD@,AU o("OF=D@--J0>1H>QJH@0(&(AO0BD>-=
-'/"$ SZ2$ >)..'()/'*($ '%$ .*(/+)'(6'.)/#6
5>HHJAEJ-(B=D-,C@C@A o(!<D>0@E(-JE>EJC,0=>JA(E,0B@B@,A@A(
4(8#%%$/"#+#$'%$)$.8#)+$+'%&$*7$%0)88;*5<$I(
o(3-=00(AO0BD>-=
)66'/'*(2$ 6#.'%'*(%$ +#,)+6'(,$ >)..'()/'*(
N4[[5$ZXXZHY3C345E0[Z3E43[5 :=0=C@E(AO0BD>-=A
*7$7)0'89$0#0:#+%$%"*486$/)&#$'(/*$.*(1
P34EZX0HCHSN]50H5CEZN4[$4HS[5 o(8=C<=DC>0(AO0BD>-=
%'6#+)/'*($/"#$;*/#(/')8$*7$#.H#0)$>)..'1
CHE5CE2NS[ o("JDH=D(AO0BD>-=
()/40$'($"*4%#"*86$.*(/)./%<
!JC,0=>JA(%ME=HH(HO-F<>-,(T-OE>A@A( 70R,--,C>DOS(,JC>@--J0=(B@A>DB=DA
@4;#+?.')8$ 74(,)8$ '(7#./'*(%$ )+#$ )8%*
IJ01>@B=A(>D(+qP,DO(AO0BD>-=U o(&>A@0>F<@H@E(1,ACD>=0C=D@C@A 0*+#$.*00*($'($)/*;'.$'(6'>'64)8%$)(6
"J-,0(@--J0>B=KE@=0EO(G@DJAe,AA>E@,C=B( o(:HJC=0MA=0A@C@G=(=0C=D>F,C<O 0)9$ .*(/+':4/#$ /*$ /"#$ #5).#+:)/'*($ *7
B=D-,C>A=A o(8=>0,C,H(HJFJA(=DOC<=-,C>AJA SZ<$b)/'#(/%$-'/"$SZ$")>#$)($'(.+#)%#6
;JFJA(=DOC<=-,C>AJA $D>H@I=D,C@G=(B@A>DB=DA ;+#>)8#(.#$ *7$ J3("#&7#25&), 3-.3-%$ '(7#.1
9=D-,C>-O>A@C@A o(;,01=D<,0A(E=HH(<@AC@>EOC>A@A /'*(%$ .*0;)+#6$ /*$ (*()/*;'.$ .*(/+*8%<
:D,ICMG=DAJAM<>AC(B@A=,A= !"#+#$")%$:##($;)+/'.48)+$'(/#+#%/$'($/"#
$=-F<@1JA(I>H@,E=JA +*8#$*7$AQ,/-3/-3$K:(523&*7&3-%,&>01$$*+$:Q
9=D-,C@C@A(<=DF=C@I>D-@A &3.("-103$L$'($SZ<$AQ,/-3/-3$'%$)$8';*;"'8'.
$<>C>A=0A@C@G@CO(B@A>DB=DA(T<OBD>,(G,EE@0@I>D-=S( 9#)%/$ K%##$ =");<$ AGBL$ .*00*(89
F>HO->DF<>JA(H@1<C(=DJFC@>0S(F>DF<OD@,AU ;+#%#(/$ '($ /"#$ %#:*++"#'.$ )+#)%$ *7$ /"#
%&'(<$I,U$)(/':*6'#%$),)'(%/$AQ,/-3/-3$)+#
'.)8$6#7*+0'/9$*7$/"#$.*+(#)$:#8'#>#6$/* .*00*(89$ 7*4(6$ '($ SZ$ ;)/'#(/%$ )(6
!35$;7!#%738+
+#%48/$7+*0$."+*('.$+4::'(,$*7$/"#$#9#% 0*%/$ 7+#`4#(/89$ '($ ;)/'#(/%$ -'/"$ "#)6
'($;)/'#(/%$-'/"$SZ$)(6$)88#+,'.$+"'('/'%< )(6$ (#.&$ 6#+0)/'/'%<$ I($ .*(/+)%/2$ I,U
3EJH,D($D>QH=-A
=)/)+)./%$-#+#$+#;*+/#6$'($/"#$#)+89$8'/1 %#(%'/'H)/'*($ /*$ AQ, /-3/-3$ '%$ +)+#89$ *:1
U9#$ .*0;8'.)/'*(%$ )%%*.')/#6$ -'/"$ %#1 #+)/4+#$ /*$ *..4+$ '($ 4;$ /*$ \A$ ;#+.#(/$ *7 %#+>#6$'($(*+0)8$.*(/+*8%$*+$)%/"0)/'.%<
>#+#$SZ$.)($8#)6$/*$%',('?.)(/$0*+:'61 ;)/'#(/%$-'/"$%#>#+#$SZ<$n*-#>#+2$'/$'% b*%'/'>#$ )88#+,#($ ;)/."$ /#%/$ +#)./'*(%$ /*
'/9<$U9#8'6$6#+0)/'/'%$)(6$."+*('.$:8#;"1 4(.8#)+$ -"#/"#+$ /"'%$ -)%$ )$ ;+'0)+9 /"'%$9#)%/$")>#$)8%*$:##($6#0*(%/+)/#6<
)+'/'%$)+#$.*00*(89$)%%*.')/#6$-'/"$SZ 0)('7#%/)/'*($*7$SZ$*+$/"#$+#%48/$*7$/"# !"#$;*/#(/')8$'0;*+/)(.#$*7$AQ,/-3/-3$)%
)(6$ 0)9$ +#%48/$ '($ >'%4)8$ '0;)'+0#(/ #5/#(%'>#$ 4%#$ *7$ %9%/#0'.$ )(6$ /*;'.)8 -#88$)%$*/"#+$6#+0)/*;"9/#$'(7#./'*(%$'%
7+*0$.*+(#)8$%.)++'(,<$S/*;'.$&#+)/*.*(1 ,84.*.*+/'.*'6%2$ ;)+/'.48)+89$ )+*4(6$ /"# 74+/"#+$ %4;;*+/#6$ :9$ /"#$ +#64./'*($ *7
M4(./'>'/'%$ '%$ 4%4)889$ :'8)/#+)8$ )(6$ .)( #9#%<$ I(6##62$ 0*+#$ +#.#(/$ %/46'#%$ %4,1 SZ$ %&'($ %#>#+'/9$ '($ %4."$ ;)/'#(/%$ )7/#+
")>#$ 6'%):8'(,$ %90;/*0%$ /")/$ '(.846# ,#%/$/")/$+*4/'(#$%.+##('(,$7*+$.)/)+)./% /+#)/0#(/$-'/"$)(/'74(,)8$),#(/%<
'/."'(,2$ :4+('(,2$ /#)+'(,2$ )(6$ .*;'*4% '($;)/'#(/%$-'/"$SZ$0)9$(*/$:#$;+*64.1 PQ,0-3$-*$'%$7*4(6$'($0*+#$/")($BE$;#+1
04.*'6$ 6'%.")+,#<$ o#+()8$ .*(M4(./'>'/'% /'>#$4(8#%%$/"#+#$'%$.*(.#+($):*4/$;*/#(1 .#(/$ *7$ SZ$ %&'($ 8#%'*(%<$ n*(#91.*8*+#6
'%$)$%#>#+#$:'8)/#+)8$+#.4++#(/$."+*('.$'(1 /')8$%'6#$#77#./%$7+*0$%/#+*'6$/"#+);9< .+4%/'(,2$ 7*88'.48'/'%2$ )(6$ ;9*6#+0)$ )+#
3)00)/*+9$ ;+*.#%%$ )%%*.')/#6$ -'/" '(6'.)/*+%$*7$%#.*(6)+9$:)./#+')8$%&'($'(1
;);'88)+9$"9;#+/+*;"92$*+$.*::8#%/*('(, 7#./'*(2$4%4)889$64#$/*$PQ,0-3$-*U$/")/$+#1
70I=EC@>0A
*7$ /"#$ 4;;#+$ #9#8'6$ .*(M4(./'>)<$ I/$ 4%41 `4'+#%$)(/':'*/'.$/"#+);9<$R#,'*()8$8901
)889$*..4+%$'($9*4(,#+$;)/'#(/%$)(6$")%$) SZ$.)($:#$.*0;8'.)/#6$:9$+#.4++#(/$>'+)8 ;")6#(*;)/"9$ '%$ .*00*($ '($ %4."
0)+$%#)%*()8$'(.'6#(.#2$*7/#($'($/"# %&'($ '(7#./'*(%$ /")/$ 0)9$ +#3#./$ 8*.)8$ 6#1 ;)/'#(/%<$!"#$'0;*+/)(.#$*7$PQ,0-3$-*$'(
%;+'(,<$ !"#$ )%%*.')/#6$ '(/#(%#$ ;+4+'/4% 7#./%$'($!1.#88$74(./'*(<$!"#$0*%/$%#+'*4% SZ$'%$%4;;*+/#6$:9$/"#$*:%#+>)/'*($/")/
'%$ #5).#+:)/#6$ :9$ #5;*%4+#$ /*$ '++'/)(/%2 >'+)8$ '(7#./'*($ '%$ "#+;#%$ %'0;8#5$ K%## ;)/'#(/%$ -'/"$ %#>#+#$ SZ2$ #>#($ /"*%#
8',"/2$*+$%-#)/'(,<$f#+)/*.*(4%$'%$)$.*(1 =");<$ ABOL2$ -"'."$ .)($ )77#./$ ;)/'#(/%$ *7 -'/"*4/$*>#+/$'(7#./'*(2$.)($%"*-$.8'('1
!B"
%'&#%5&8%
@4..#%%748$ /+#)/0#(/$ *7$ SZ$ +#`4'+#%$ )
%9%/#0)/'.2$048/';+*(,#6$);;+*)."$/")/
'(.*+;*+)/#%$ %&'($ "96+)/'*(2$ ;")+0).*1
8*,'.$/"#+);92$)(6$/"#$'6#(/'?.)/'*($)(6
#8'0'()/'*($ *7$ 3)+#$ 7)./*+%$ %4."$ )%$ '++'1
/)(/%2$ )88#+,#(%2$ '(7#./'*4%$ ),#(/%2$ )(6
#0*/'*()8$%/+#%%*+%$K[',<$Ac1AAL<cc$F)(9
7)./*+%$ 8#)6$ /*$ /"#$ %90;/*0$ .*0;8#5
.")+)./#+'H'(,$ SZ<$ !"4%2$ /+#)/0#(/
;8)(%$ %"*486$ :#$ '(6'>'64)8'H#6$ /*$ )61
6+#%%$ #)."$ ;)/'#(/s%$ %&'($ 6'%#)%#$ +#).1
/'*($;)//#+(2$'(.846'(,$/"#$).4'/9$*7$/"#
+)%"2$ )(6$ /"#$ /+',,#+$ 7)./*+%$ /")/$ )+#
4('`4#$ /*$ /"#$ ;)+/'.48)+$ ;)/'#(/<$ I($ ;)1
/'#(/%$ +#7+)./*+9$ /*$ .*(>#(/'*()8$ 7*+0%
*7$ /"#+);92$ )8/#+()/'>#$ )(/'1'(3)00)1
/012345!96!8 &EP=-,(<=DF=C@EJ-.(%OF@E,H(G=A@EH=A(,0B(EDJAC@01(@0(,(F,C@=0C(/@C<(B@AA=-@0,C=B /*+9$ )(6$ '004(*0*648)/*+9$ ),#(/%
B@A=,A=. 0)9$:#$(#.#%%)+9<
F'-.+#-&?++-)&T'#.<.#&'#:&2'U='&*$.-+$.'&<%$&:.'0#%).)&%<&,4'
c d
@+#+$'9&)=.#&*'$+&?+')"$+)V 4b<AI<=&5J(;
W&+:"*'-.%# (=%&;5>(+@*=*(+,
W&'HH$%H$.'-+&)=.#&;>:$'-.%#&'#:&")+&%<&+?%99.+#-)K)=.#&('$$.+$&$+H'.$&?+')"$+)
W&'/%.:'#*+&%<&.$$.-'#-)
W&.:+#-.<.*'-.%#&'#:&'/%.:'#*+&%<&!"#$%&&'99+$0+#)
W&'#-.6.#<9'??'-%$>&-;+$'H>&I-%H.*'9&)-+$%.:)N&-%H.*'9&*'9*.#+"$.#&.#;.(.-%$)(M
W&'#-.H$"$.-.*&.#-+$/+#-.%#)&I)+:'-.#0&'#-.;.)-'?.#+)N&(+;'/.%$'9&?%:.<.*'-.%#M
W&.:+#-.<.*'-.%#&'#:&-$+'-?+#-&%<&*%?H9.*'-.#0&('*-+$.'9N&/.$'9N&%$&<"#0'9&.#<+*-.%#)
W&-$+'-?+#-&%<&H)>*;%)%*.'9&')H+*-)&%<&:.)+')+
[I>>&,,JIA5(I=>('&a
c d
1.-$'-.%#&%<&-%H.*'9&-;+$'H>N&").#0&+?%99.+#-)K('$$.+$&$+H'.$&?+')"$+)&
-%H.*'9&)-+$%.:)&%$&-%H.*'9&*'9*.#+"$.#&.#;.(.-%$)&')&#++:+:&.#-+$?.--+#-9>
W&2+6'))+))&:.'0#%).)&%<&,4
W&3%#).:+$&$%9+&%<&"#$+*%0#.X+:&.#<+*-.%")&'0+#-)N&'99+$0+#)Y&+-*Z
W&3%#).:+$&H%%$&"#:+$)-'#:.#0&%$&#%#6':;+$+#*+&S.-;&-$+'-?+#-&H9'#
c
[I>>&,,JIA5(I=>('&a
d
W&3%#)"9-'-.%#&S.-;&,4&)H+*.'9.)-
W&3%#).:+$&)=.#&(.%H)>
W&3%#).:+$&;%)H.-'9.X'-.%#
W&3%#).:+$&*>*9%)H%$.#&,N&"9-$'/.%9+-&-;+$'H>&+-*Z
/012345!96!! #FFD>,E<(C>(F,C@=0C(/@C<(,C>F@E(B=D-,C@C@A(T#9U.(,+==(%,QH=()[M).(Q+=E>0BMH@0=(C<=D,FO(F=D(QH,E?(Q>](/,D0@01.
)$"96+*8';'6'.$.+#)0$-'/"$,89.9++"#/'('. +);'6$ "#)8'(,$ *7$ #5.*+')/#6$ 8#%'*(%<$ i#/ !"4%2$ -#/$ 6+#%%'(,$ /"#+);9$ '%$ +#%#+>#6
).'6$ KFS@EeOSZbL<cD2ce$ [4+/"#+$ .8'('.)8 6+#%%'(,%$ )+#$ +#.*00#(6#6$ 7*+$ 4%#$ *( 7*+$ ;**+89$ .*(/+*88#6$ SZ$ )(6$ %"*486$ :#
%/46'#%$/*$6#?(#$/"#$:#(#?/%$+#8)/'>#$/* %#>#+#89$)77#./#6$*+$."+*('.)889$'(>*8>#6 .8*%#89$0*('/*+#6$:9$)$;"9%'.')(<
/+)6'/'*()8$0*'%/4+'H#+%$)(6$/*;'.)8$)(/'1 )+#)%$*7$6#+0)/'/'%$+#7+)./*+9$/*$/"#+);9<
'(3)00)/*+9$),#(/%$-'88$:#$"#8;748<$ n*-#>#+2$*>#+4%#$*7$-#/$6+#%%'(,%$0)9 SZP0$CN51N2$Z$Z3S0$Z0E5S\43CP] !*;'1
n96+)/'*(2$:9$:)/"%$*+$-#/$6+#%%'(,%2 +#%48/$ '($ 0).#+)/'*($ *7$ /"#$ %&'($ .*0;8'1 .)8$,84.*.*+/'.*'6%$)+#$/"#$.*+(#+%/*(#$*7
;+*0*/#%$ /+)(%#;'6#+0)8$ ;#(#/+)/'*($ *7 .)/#6$:9$%#.*(6)+9$'(7#./'*(<$i#/$6+#%%1 /+#)/0#(/$7*+$)(/'1'(3)00)/*+9$#.H#0)1
/*;'.)8$ ,84.*.*+/'.*'6%<$ Z+#%%'(,%$ 0)9 '(,%$ *+$ :)/"%$ )8%*$ ")>#$ /"#$ ;*/#(/')8$ /* /*4%$%&'($8#%'*(%<$_#.)4%#$*7$;*/#(/')8
)8%*$ %#+>#$ )%$ )($ #77#./'>#$ :)++'#+$ ),)'(%/ ;+*0*/#$6+9'(,$)(6$?%%4+'(,$*7$/"#$%&'( %'6#$#77#./%2$0*%/$;"9%'.')(%$4%#$/*;'.)8
!B9 ;#+%'%/#(/$ %.+)/."'(,2$ )88*-'(,$ 0*+# '7$(*/$7*88*-#6$:9$/*;'.)8$#0*88'#(/$4%#< ,84.*.*+/'.*'6%$*(89$/*$.*(/+*8$).4/#$#51
).#+:)/'*(%$*7$SZ<$n*-#>#+2$+#.#(/ .846#$ /"#$ #;'6#+0'%2$ +#%48/'(,$ '($ #(1 H#0)$ "#+;#/'.40< D c $ !"#$ 8*(,1/#+0
%/46'#%$%4,,#%/$/")/$*(.#$.*(/+*8$*7$SZ$'% ")(.#6$ %9%/#0'.$ ):%*+;/'*($ -"#($ .*01 %)7#/9$*7$/*;'.)8$.)8.'(#4+'($'("':'/*+%
)."'#>#6$-'/"$)$6)'89$+#,'0#($*7$/*;'.)8 ;)+#6$/*$.+#)0%<$@'6#$#77#./%$7+*0$/*;'.)8 ")%$(*/$:##($#%/):8'%"#6<$R)+#$.)%#%$*7
,84.*.*+/'.*'62$8*(,1/#+0$.*(/+*8$.)($:# ,84.*.*+/'.*'6%$ .)($ :#$ 6'>'6#6$ '(/*$ 8*.)8 %&'($0)8',()(.9$)(6$890;"*0)$")>#
0)'(/)'(#6$'($)$%4:%#/$*7$;)/'#(/%$-'/" %'6#$ #77#./%$ )(6$ %9%/#0'.$ %'6#$ #77#./%$ +#1 :##($+#;*+/#6$-'/"$/*;'.)8$/).+*8'04%2
/-'.#$-##&89$);;8'.)/'*(%$*7$/*;'.)8$341 %48/'(,$7+*0$%4;;+#%%'*($*7$/"#$"9;*/")1 /"*4,"$/"#$8#>#8$*7$6)/)$`4)8'/9$)(6$);1
/'.)%*(#$/*$)+#)%$/")/$")>#$"#)8#6$:4/$)+# 8)0'.1;'/4'/)+91)6+#()8$ )5'%<$ W*.)8$ %'6# ;8'.):'8'/9$*7$/"#%#$+#;*+/%$-)%$M46,#6
;+*(#$/*$6#>#8*;'(,$#.H#0)<cC #77#./%$'(.846#$/"#$6#>#8*;0#(/$*7$%/+')#2 8*-$'($/"#$+#;*+/$*7$)$%.'#(/'?.$.*(%#(1
b)/'#(/%$%"*486$:#$.)+#74889$'(%/+4./#6 %&'($ )/+*;"92$ ;#+'*+)8$ 6#+0)/'/'%2$ )(6 %4%$.*(7#+#(.#<DD
'($ /"#$ 4%#$ *7$ /*;'.)8$ ,84.*.*+/'.*'6%$ /* ).(#$ +*%).#)<$ !"#$ ;*/#(/')8$ 7*+$ ;*/#(/
)>*'6$ ;*/#(/')8$ %'6#$ #77#./%<$ !"#$ ;*/#(/ /*;'.)8$ ,84.*.*+/'.*'6$ /*$ .)4%#$ )6+#()8 7B=0C@KE,C@>0(,0B(&H@-@0,C@>0(
34*+'()/#6$ ,84.*.*+/'.*'6%$ %"*486$ :# %4;;+#%%'*($ '%$ ,+#)/#%/$ '($ '(7)(/%$ )(6
)>*'6#6$ *($ /"#$ 7).#2$ /"#$ ,#('/)8')2$ )(6 9*4(,$."'86+#(<$P7$(*/#2$)$%/469$*7$."'81 >I(%D@11=D@01(4,EC>DA
/"#$ '(/#+/+','(*4%$ )+#)%<$ S$ 8*-1;*/#(.9 6+#($)%$9*4(,$)%$O$0*(/"%$*7$),#$7*4(6 14H43CN5$ZH[0E43CS0ZH[ b)/'#(/%$ -'/"
,84.*.*+/'.*'6$ ;+#;)+)/'*($ '%$ ,#(#+)889 /")/$ 34/'.)%*(#$ ;+*;'*()/#$ E<ED$ ;#+.#(/ SZ$ )+#$ 0*+#$ %4%.#;/':8#$ /*$ '++'/)(/%
+#.*00#(6#6$ 7*+$ /"#%#$ )+#)%<$ b)/'#(/% .+#)02$ )$ 0'6;*/#(.9$ 7*+048)/'*(2$ -)% /")($)+#$4()77#./#6$'(6'>'64)8%<$!"4%2$'/
%"*486$:#$'(%/+4./#6$/*$);;89$/*;'.)8$,841 %)7#$)(6$#77#./'>#$#>#($-"#($);;8'#6$*( '%$ '0;*+/)(/$ /*$ '6#(/'79$ )(6$ #8'0'()/#
.*.*+/'.*'6%$ /*$ /"#'+$ %&'($ 8#%'*(%$ )(6$ /* /"#$7).#$)(6$*>#+$%',('?.)(/$)+#)%$*7$/"# ),,+)>)/'(,$7)./*+%$/")/$/+',,#+$/"#$'/."1
4%#$#0*88'#(/%$*>#+$4('(>*8>#6$%&'(<$[)'81 :*69$7*+$4;$/*$A$0*(/"cG$)(6$34/'.)%*(# %.+)/."$ .9.8#<$ !"#%#$ '(.846#$ %*);%$ *+
4+#$*7$)$;)/'#(/$/*$+#%;*(6$/*$/*;'.)8$,841 E<ED$ ;#+.#(/$ .+#)0$ ")%$ :##($ );;+*>#6 6#/#+,#(/%2$ .*(/)./$ -'/"$ ."#0'.)8%2
.*.*+/'.*'6%$'%$%*0#/'0#%$64#$'($;)+/$/* 7*+$4%#$'($."'86+#($)%$9*4(,$)%$O$0*(/"% %0*$ ):+)%'>#$ .8*/"'(,2$)(6$#5;*%4+#
)($ '()6#`4)/#$ %4;;89<$ I/$ '%$ '0;*+/)(/$ /* 7*+$4;$/*$c$-##&%$-'/"$34/'.)%*(#$8*/'*( /*$#5/+#0#%$*7$/#0;#+)/4+#$)(6$"40'61
+#0#0:#+$/")/$'/$/)&#%$);;+*5'0)/#89$OE );;+*>#6$ 7*+$ 4%#$ '($ ."'86+#($ A\$ 0*(/"% '/9<$S8.*"*8$)(6$)%/+'(,#(/%$7*4(6$'($/*'1
,$*7$.+#)0$*+$*'(/0#(/$/*$.*>#+$/"#$#(1 )(6$*86#+<$ F*0#/)%*(#$ .+#)0$ )(6$ *'(/1 8#/+'#%$)+#$6+9'(,<$i"#($%*);%$)+#$4%#62
/'+#$%&'($%4+7).#$*7$)($)648/$*(.#<$!*$/+#)/ 0#(/$ )+#$ );;+*>#6$ 7*+$ ."'86+#($ ),#%$ \ /"#9$%"*486$")>#$0'('0)8$6#7)//'(,$).1
/"#$ #(/'+#$ :*69$ /-'.#$ 6)'89$ 7*+$ \$ -##&% 9#)+%$)(6$*86#+< /'>'/9$ )(6$ )$ (#4/+)8$ ;n<$ T#-$ .8*/"'(,
+#`4'+#%$ );;+*5'0)/#89$ GcE$ ,$ K\$ 8:L$ *7 _#.)4%#$(*+0)81);;#)+'(,$%&'($'($SZ 0)9$:#$8)4(6#+#6$:#7*+#$-#)+'(,$/*$6#1
/*;'.)8$,84.*.*+/'.*'6%< %"*-%$#>'6#(.#$*7$'004(*8*,'.$69%+#,1 .+#)%#$8#>#8%$*7$7*+0)86#"96#$)(6$*/"#+
!"#+#$)+#$%#>#($.8)%%#%$*7$/*;'.)8$,841 48)/'*(2$ /"#$ 4%#$ *7$ /*;'.)8$ .*+/'.*%/#+1 )66#6$ ."#0'.)8%<$ R#%'64)8$ 8)4(6+9$ 6#1
.*.*+/'.*'6%2$ +)($ )..*+6'(,$ /*$ /"#'+ *'6%$ )%$ 0)'(/#()(.#$ /"#+);9$ ")%$ :##( /#+,#(/$'($.8*/"'(,$0)9$:#$'++'/)/'(,<$k%1
;*/#(.9$:)%#6$*($>)%*.*(%/+'./*+$)%%)9%< +#;*+/#6$ '($ %#>#+)8$ .*(/+*88#6$ %/46'#%<cB '(,$ )$ 8'`4'6$ +)/"#+$ /")($ ;*-6#+$ 6#/#+1
_#.)4%#$*7$/"#'+$;*/#(/')8$%'6#$#77#./%2$/"# P(.#$ .*(/+*8$ *7$ SZ$ -'/"$ )$ *(.#$ 6)'89 ,#(/$ )(6$ )66'(,$ )$ %#.*(6$ +'(%#$ .9.8#
48/+)"',"1;*/#(.9$,84.*.*+/'.*'6%$%"*486 +#,'0#($ -)%$ )."'#>#62$ 8*(,1/#+0$ .*(1 7).'8'/)/#%$+#0*>)8$*7$/"#$6#/#+,#(/<
:#$ 4%#6$ *(89$ 7*+$ >#+9$ %"*+/$ ;#+'*6%$ *7 /+*8$ .*486$ :#$ 0)'(/)'(#6$ -'/"$ /-'.# R#.*00#(6)/'*(%$+#,)+6'(,$#(>'+*(1
/'0#$)(6$'($)+#)%$/")/$)+#$8'."#('?#6$:4/ -##&89$);;8'.)/'*($*7$34/'.)%*(#$/*$;+#1 0#(/)8$ 8'>'(,$ .*(6'/'*(%$%"*486$ '(.846#
(*/$ *($ /"#$ 7).#$ *+$ '(/#+/+','(*4%$ )+#)%< >'*4%89$'(>*8>#6$)+#)%<$ /#0;#+)/4+#$ )(6$ "40'6'/9$ .*(/+*8$ /*
!"#$,*)8$'%$/*$4%#$#0*88'#(/%$/*$#(")(.# )>*'6$ ;+*:8#0%$ +#8)/#6$ /*$"#)/2$ "40'61
%&'($ "96+)/'*($ )(6$ 8*-1;*/#(.9$ ,84.*1 SZP0$CN5$CN$0H4230H50H\0O0SZ3[ !*;'.)8 '/92$ )(6$ ;#+%;'+)/'*(<$ U>#+9$ )//#0;/
.*+/'.*'6%$7*+$0)'(/#()(.#$/"#+);9<$F'61 /).+*8'04%$)(6$;'0#.+*8'04%$")>#$:##( %"*486$:#$0)6#$/*$)88*-$."'86+#($/*$:#
;*/#(.9$ ,84.*.*+/'.*'6%$ .)($ :#$ 4%#6$ 7*+ 6#>#8*;#6$)%$(*(%/#+*'6)8$'004(*0*61 )%$ (*+0)889$ )./'>#$ )%$ ;*%%':8#<$ =#+/)'(
8*(,#+$ ;#+'*6%$ *7$ /'0#$ /*$ /+#)/$ ."+*('. 48)/*+%<DE$!).+*8'04%$*'(/0#(/$E<EO$;#+1 %;*+/%2$%4."$)%$%-'00'(,2$0)9$:#$:#/1
SZ$ '(>*8>'(,$ /"#$/+4(&$)(6$#5/+#0'/'#%< .#(/$")%$:##($);;+*>#6$7*+$'(/#+0'//#(/ /#+$/*8#+)/#6$/")($*/"#+$%;*+/%$'(>*8>'(,
a84.*.*+/'.*'6%$'($,#8%$)+#$*7/#($'($)$;+*1 /+#)/0#(/$*7$0*6#+)/#$/*$%#>#+#$SZ$'( '(/#(%#$ ;#+%;'+)/'*(2$ ;"9%'.)8$ .*(/)./2
;98#(#$,89.*8$:)%#$)(6$0)9$:#$'++'/)/'(, ."'86+#($),#6$\$9#)+%$)(6$*86#+2$-'/" *+$ "#)>9$ .8*/"'(,$ )(6$ #`4';0#(/2$ :4/
/*$/"#$%&'($'($)66'/'*($/*$;+*0*/'(,$6+91 /).+*8'04%$*'(/0#(/$E<A$;#+.#(/$);1 ."8*+'(#$ %"*486$ :#$ +'(%#6$ *77$ '00#6'1
(#%%2$/"4%$ 8'0'/'(,$ /"#'+$ 4%#$/*$ /"#$%.)8; ;+*>#6$7*+$4%#$'($)648/%p$-"#+#)%$;'0#1 )/#89$)7/#+$%-'00'(,$)(6$/"#$%&'($84:+'1
)(6$:#)+6$)+#)%< .+*8'04%$.+#)0$A$;#+.#(/$'%$);;+*>#6$7*+ .)/#6<$ S8/"*4,"$ 48/+)>'*8#/$ KkoL$ 8',"/
[)./*+%$ -"'."$ '(34#(.#$ /*;'.)8$ ,84.*1 /+#)/0#(/$*7$;)/'#(/%$),#6$\$9#)+%$)(6 0)9$:#$:#(#?.')8$/*$%*0#$;)/'#(/%$-'/"
.*+/'.*'6$;*/#(.9$)(6$%'6#$#77#./%$'(.846# *86#+$-'/"$0'8610*6#+)/#$SZ<$_*/" SZ2$%4(%.+##(%$%"*486$:#$4%#6$/*$)>*'6
/"#$0*8#.48)+$%/+4./4+#$*7$/"#$.*0;*4(62 6+4,%$")>#$;+*>#($/*$:#$#77#./'>#$-'/"$) %4(:4+(<$ n*-#>#+2$ :#.)4%#$ %4(%.+##(%
/"#$ >#"'.8#2$ /"#$ )0*4(/$ *7$ 0#6'.)/'*( ,**6$%)7#/9$;+*?8#$7*+$/+#)/0#(/$4;$/*$c .)($ :#$ '++'/)(/%2$ .)+#$ %"*486$ :#$ 4%#6$ /*
);;8'#62$ /"#$ 64+)/'*($ *7$ );;8'.)/'*(2$ *.1 9#)+%$-'/"$/).+*8'04%$*'(/0#(/DA$)(6$4; '6#(/'79$)$(*('++'/)/'(,$;+*64./<
.84%'*(2$)%$-#88$)%$"*%/$7)./*+%2$'(.846'(, /*$\$9#)+%$-'/"$;'0#.+*8'04%$.+#)0<D\$S
),#2$ :*69$ %4+7).#$ )+#)$ )(6$ -#',"/2$ %&'( 7+#`4#(/89$*:%#+>#6$%'6#$#77#./$-'/"$/*;1 [P4$0/0$5CNN4314H[ [**6%$)(6$)#+*)88#+1
'(3)00)/'*(2$ )()/*0'.$ 8*.)/'*($ *7 '.)8$.)8.'(#4+'($'("':'/*+%$'%$)$/+)(%'#(/ ,#(% %4."$)%$64%/$0'/#%2$)('0)8$6)(6#+%2
/+#)/#6$%&'(2$)(6$'(6'>'64)8$6'77#+#(.#%$'( :4+('(,$%#(%)/'*($*7$/"#$%&'(<$I0;*+1 0*86%2$ )(6$ ;*88#(%$ ")>#$ :##($ 6#0*(1
.4/)(#*4%$ *+$ %9%/#0'.$ 0#/):*8'%0<$ @'6# /)(/892$/+#)/0#(/$-'/"$/*;'.)8$.)8.'(#4+'( %/+)/#6$ /*$ #5).#+:)/#$ SZ<$ b*/#(/')8$ )81
#77#./%$ 7+*0$ /*;'.)8$ ,84.*.*+/'.*'6%$ )+# '("':'/*+%$'%$(*/$)%%*.')/#6$-'/"$%&'($)/1 8#+,#(%$ .)($ :#$ '6#(/'?#6$ :9$ /)&'(,$ )
6'+#./89$+#8)/#6$/*$/"#$;*/#(.9$+)(&'(,$*7 +*;"92DO$/"4%$/"#9$)+#$;)+/'.48)+89$4%#748 .)+#748$ "'%/*+9$ )(6$ .)++9'(,$ *4/$ %#8#.1
/"#$.*0;*4(6$)(6$/"#$8#(,/"$*7$4%#2$%*$'/ 7*+$/"#$/+#)/0#(/$*7$)+#)%$%4."$)%$/"# /'>#$ %&'(1;+'.&$ /#%/%$ *+$ %;#.'?.$ %#+40
'%$ '(.40:#(/$ *($ /"#$ .8'('.')($ /*$ :)8)(.# 7).#$)(6$'(/#+/+','(*4%$+#,'*(%<$P(,*'(, I,U$ 8#>#8%<$ T#,)/'>#$ %&'($ /#%/%$ *+$%#+40
/"#$ (##6$7*+$)$ 0*+#$;*/#(/$%/#+*'6$ -'/" %4+>#'88)(.#$)(6$+#.#(/$+#;*+/%$")>#$(*/ /#%/%$7*+$)88#+,#(1%;#.'?.$I,U$")>#$)$"',"
/"#$;*/#(/')8$7*+$%'6#$#77#./%<$I($)66'/'*(2 %"*-($)$/+#(6$7*+$'(.+#)%#6$7+#`4#(.9 ;+#6'./'>#$>)84#$7*+$+48'(,$*4/$%4%;#./#6
*'(/0#(/%$")>#$)$,+#)/#+$;*/#(/')8$/*$*.1 *7$>'+)8$%4;#+'(7#./'*(%$#%;#.')889$#.1 )88#+,#(%<$ S$ (*+0)8$ /*/)8$ %#+40$ I,U
!BB
8#>#82$ "*-#>#+2$ 6*#%$ (*/$ +48#$ *4/$ /"# +*09.'(1+#%'%/)(/$%/);"98*.*..'$)+#$.*01 )(/'"'%/)0'('.$ /"#+);9<$ @*0#$ )(/'"'%/)1
;*%%':'8'/9$*7$)88#+,#(1%;#.'?.$I,U$:#'(, 0*(2$#+9/"+*09.'($)(6$(#-#+$0).+*1 0'(#%$)+#$)8%*$0'86$)(5'*89/'.%$)(6$0)9
;+#%#(/<$ b*%'/'>#$ %&'($ *+$ '($ >'/+*$ /#%/%2 8'6#$)(/':'*/'.%$)+#$4%4)889$*7$8'0'/#6 *77#+$ %90;/*0)/'.$ +#8'#7$ /"+*4,"$ /+)(1
;)+/'.48)+89$/*$7**6%2$*7/#($6*$(*/$.*++#1 4/'8'/9<$!*;'.)8$04;'+*.'($*77#+%$%*0# `4'8'H'(,$)(6$%#6)/'>#$#77#./%<$@/46'#%$*7
8)/#$-'/"$.8'('.)8$%90;/*0%$)(6$%"*486 4/'8'/9$'($/"#$/+#)/0#(/$*7$'0;#/','('H#6 (#-#+2$(*(1%#6)/'(,$)(/'"'%/)0'(#%$%"*-
:#$.*(?+0#6$-'/"$.*(/+*88#6$7**6$.")81 8#%'*(%p$"*-#>#+2$'($;)/'#(/%$-'/"$#5/#(1 >)+'):8#$ +#%48/%$ '($ /"#$ #77#./'>#(#%%$ *7
8#(,#%$)(6$#8'0'()/'*($6'#/%<$S>*'6)(.# %'>#$%4;#+'(7#./'*(2$)$.*4+%#$*7$%9%/#0'. .*(/+*88'(,$;+4+'/4%$'($SZ2$)8/"*4,"$/"#9
*7$ 7**6%$ '0;8'.)/#6$ '($ .*(/+*88#6$ .")81 )(/':'*/'.%$'%$0*%/$;+)./'.)8<$F#/"'.'88'(1 0)9$ :#$ 4%#748$ '($ /"#$ %4:%#/$ *7$ SZ$ ;)1
8#(,#%$ +#%48/%$ '($ .8'('.)8$ '0;+*>#0#(/< +#%'%/)(/$%/);"98*.*..'$0)9$+#`4'+# .481 /'#(/%$-'/"$.*(.*0'/)(/$4+/'.)+')$*+$.*(1
U5/#(%'>#$ #8'0'()/'*($ 6'#/%2$ -"'."$ '( /4+#$)(6$%#(%'/'>'/9$/#%/'(,$/*$)%%'%/$'( .4++#(/$)88#+,'.$+"'('/'%<
%*0#$ .)%#%$ .)($ :#$ (4/+'/'*()889$ 6#?1 );;+*;+')/#$)(/':'*/'.$%#8#./'*(<$ _#.)4%#$ ;+4+'/4%$ '%$ 4%4)889$ -*+%#$ )/
.'#(/2$ )+#$ +)+#892$ '7$ #>#+2$ +#`4'+#62$ :#1 n#+;#%$ %'0;8#5$ .)($ ;+*>*&#$ +#.4++#(/ (',"/2$ /"#$ %#6)/'(,$ )(/'"'%/)0'(#%2$ 7*+
.)4%#$ #>#($ -'/"$ 048/';8#$ ;*%'/'>#$ %&'( 6#+0)/'/'%$ )(6$ 0)9$ :#$ 0'%6'),(*%#6$ )% #5)0;8#2$ "96+*59H'(#$ *+$ 6';"#("96+)1
/#%/%2$ /"#$ 0)M*+'/9$ *7$ ;)/'#(/%$ +#)./$ /* PQ, 0-3$-*$ '(7#./'*(<$ !"#$ ;+#%#(.#$ *7 0'(#2$0)9$*77#+$)($)6>)(/),#$-'/"$/"#'+
/"+##$*+$7#-#+$7**6%$*($.*(/+*88#6$.")81 ;4(."#61*4/$#+*%'*(%2$>#%'.8#%2$)(6V*+$'(1 %*;*+'?.$ %'6#$ #77#./%$ -"#($ 4%#6$ )/$ :#61
8#(,#<$ I($ 64%/$ 0'/#Y)88#+,'.$ ;)/'#(/% 7#./#6$%&'($8#%'*(%$/")/$6*$(*/$+#%;*(6$/* /'0#<$ Z*5#;'($ "96+*."8*+'6#$ ")%$ :*/"
-'/"$ SZ2$ ;+*8*(,#6$ )>*'6)(.#$ *7$ 64%/ *+)8$)(/':'*/'.%$%"*486$'('/')/#$)$%#)+."$7*+ /+'.9.8'.$ )(/'6#;+#%%)(/$ )(6$ nA1$ )(6$ n\1
0'/#%$ ")%$ :##($ 7*4(6$ /*$ +#%48/$ '($ '01 "#+;#%$%'0;8#5<$!"'%$.)($:#$6'),(*%#6$:9 "'%/)0'(#$ +#.#;/*+Y:8*.&'(,$ #77#./%<$ I/
;+*>#0#(/$*7$/"#'+$%&'($6'%#)%#<$S>*'61 )$ a'#0%)1%/)'(#6$ !H)(.&$ %0#)+$ *7$ .#88% .)($ :#$ 4%#6$ '($ 6*%#%$ *7$ AE$ /*$ CD$ 0,
)(.#$0#)%4+#%$'(.846#$4%#$*7$64%/$0'/#Y %.+);#6$ 7+*0$ /"#$ >#%'.8#$ :)%#2$ 6'+#./ *+)889$)/$(',"/$*+$4;$/*$CD$0,$:'6$'($)648/
;+**7$ #(.)%'(,%$ *($ ;'88*-%2$ 0)//+#%%#%2 '004(*34*+#%.#(.#$ )%%)92$ ;*890#+)%# ;)/'#(/%<$I7$(*./4+()8$;+4+'/4%$+#0)'(%$%#1
)(6$ :*5$ %;+'(,%p$ -)%"'(,$ :#66'(,$ '( .")'($+#)./'*($'6#(/'?.)/'*($*7$"#+;#%$,#1 >#+#2$ %"*+/1/#+0$ 4%#$ *7$ )$ %#6)/'>#$ /*$ )81
"*/$-)/#+$-##&89p$+#0*>)8$*7$:#6+**0 (#/'.$0)/#+')82$*+$:9$>'+)8$.48/4+#<$[*+$'(1 8*-$ )6#`4)/#$ +#%/$ 0)9$ :#$ );;+*;+')/#<
.)+;#/'(,p$)(6$6#.+#)%'(,$'(6**+$"40'61 7#./'*($%4%;#./#6$/*$:#$.)4%#6$:9$"#+;#% !+#)/0#(/$*7$ SZ$-'/"$ /*;'.)8$ )(/'"'%/)1
'/9$8#>#8%$-'/"$)'+$.*(6'/'*('(,<$_#.)4%# %'0;8#52$/*;'.)8$)(/'1'(3)00)/*+9$),#(/% 0'(#%$'%$,#(#+)889$(*/$+#.*00#(6#6$:#1
/"#+#$ )+#$ 0)(9$ /+',,#+%$ .*(/+':4/'(,$ /* 0',"/$ :#$ 6'%.*(/'(4#62$ )/$ 8#)%/$ /#0;*1 .)4%#$ *7$ ;*/#(/')8$ .4/)(#*4%$ %#(%'/'H)1
/"#$3)+#%$*7$SZ2$)//#(/'*($%"*486$:#$7*1 +)+'89<$ S(/'>'+)8$ /+#)/0#(/$ 7*+$ .4/)(#*4% /'*(<$ n*-#>#+2$ %"*+/1/#+0$ KA$ -##&L
.4%#6$*($'6#(/'79'(,$)(6$.*(/+*88'(,$/"# "#+;#%$%'0;8#5$'(7#./'*(%$'%$*7$.+'/'.)8$'01 );;8'.)/'*($ *7$ /*;'.)8$ D$ ;#+.#(/$ 6*5#;'(
3)+#$7)./*+%$/")/$)+#$'0;*+/)(/$/*$/"#$'(1 ;*+/)(.#$ '($ /"#$ ;)/'#(/$ -'/"$ -'6#%;+#)6 .+#)0$")%$:##($+#;*+/#6$/*$+#64.#$;+4+'1
6'>'64)8$;)/'#(/<$I(7)(/%$)(6$9*4(,$."'81 SZ$ :#.)4%#$ 8'7#1/"+#)/#('(,$ 6'%%#0'()1 /4%$-'/"*4/$%#(%'/'H)/'*(<$P7$(*/#2$%#6)1
6+#($)+#$0*+#$8'Y$/*$")>#$7**6$)88#+1 /'*($")%$:##($+#;*+/#6<$S.9.8*>'+2$cEE$0, /'*($'%$)$%'6#$#77#./$*7$-'6#%;+#)6$);;8'1
,'#%2$ -"#+#)%$ *86#+$ ."'86+#($ )(6$ )648/% /"+##$ /'0#%$ 6)'89$ 7*+$ AE$ 6)9%$ *+$ \EE$ 0, .)/'*($ *7$ 6*5#;'($ .+#)02$ )(6$ )88#+,'.
)+#$ 0*+#$ 8'Y$ /*$ :#$ %#(%'/'>#$ /*$ #(>'1 7*4+$ /'0#%$ 6)'89$ 7*+$ AE$ 6)9%$ :9$ *+)8$ )61 .*(/)./$6#+0)/'/'%$")%$:##($+#;*+/#6<
+*(0#(/)8$)#+*)88#+,#(%< 0'('%/+)/'*($ K*+$ )($ #`4'>)8#(/$ 6*%),#$ *7
*(#$ *7$ /"#$ (#-#+$ )(/'"#+;#/'.$ 0#6'.)1
%,D($D=F,D,C@>0A
4XZS0ZHCN5[S34[[Z3[ S8/"*4,"$ #0*1 /'*(%L2$'%$4%#748$'($)648/%$-'/"$"#+;#%$%'01
/'*()8$%/+#%%$6*#%$(*/$.)4%#$SZ2$'/$*7/#( ;8#5$ .*(?(#6$ /*$ /"#$ %&'(<$ I(/+)>#(*4% =*)8$/)+$;+#;)+)/'*(%$0)9$")>#$)(/';+41
#5).#+:)/#%$ /"#$ '88(#%%<$ SZ$ ;)/'#(/%$ *71 /+#)/0#(/$ 0)9$ :#$ (#.#%%)+9$ 7*+$ %#>#+# +'/'.$)(6$)(/'1'(3)00)/*+9$#77#./%$*($/"#
/#($ +#%;*(6$ /*$ 7+4%/+)/'*(2$ #0:)++)%%1 6'%%#0'()/#6$ #.H#0)$ "#+;#/'.40<$ !"# %&'($)8/"*4,"$4%4)889$(*/$)%$;+*(*4(.#6
0#(/2$ *+$ */"#+$%/+#%%748$ #>#(/%$ -'/"$ '(1 6*%),#$ %"*486$ :#$ )6M4%/#6$ )..*+6'(,$ /* )%$/"*%#$*7$ /*;'.)8$,84.*.*+/'.*'6%<DC$!)+
.+#)%#6$;+4+'/4%$)(6$%.+)/."'(,<$I($%*0# -#',"/$'($."'86+#(< ;+#;)+)/'*(%$ 0)9$ :#$ 4%#748$ '($ +#64.'(,
'(%/)(.#%2$ %.+)/."'(,$ '%$ %'0;89$ "):'/4)8 Z#+0)/*;"9/#$ '(7#./'*(%$ .)($ .*0;8'1 /"#$;*/#(.9$*7$/*;'.)8$,84.*.*+/'.*'6%$+#1
)(6$8#%%$.*00*(89$)%%*.')/#6$-'/"$%',1 .)/#$SZ$)(6$0)9$.*(/+':4/#$/*$#5).#+:)1 `4'+#6$'($."+*('.$0)'(/#()(.#$/"#+);9$*7
('?.)(/$ %#.*(6)+9$ ,)'(<$ b%9."*8*,'.)8 /'*($*7$6'%#)%#$)./'>'/9<$b)/'#(/%$-'/"$6#+1 SZ<$ T#-#+$.*)8$ /)+$;+*64./%$ ")>#$ :##(
#>)84)/'*($*+$.*4(%#8'(,$%"*486$:#$.*(1 0)/*;"9/#$'(7#./'*($*+$I,U$)(/':*6'#%$/* 6#>#8*;#6$/")/$)+#$0*+#$)..#;/):8#$-'/"
%'6#+#6$ '($ ;)/'#(/%$ -"*$ ")>#$ 6'7?.48/9 A010**$9(0 0)9$ :#(#?/$ 7+*0$ )$ /+')8$ *7 +#%;#./$ /*$ *6*+$ )(6$ %/)'('(,$ *7$ .8*/"#%
-'/"$#0*/'*()8$/+',,#+%$*+$;%9."*8*,'.)8 /*;'.)8$*+$%9%/#0'.$)(/'74(,)8$/"#+);9< /")($%*0#$*86#+$;+*64./%<$!)+$%")0;**%
;+*:8#0%2$ .*(/+':4/'(,$ /*$ 6'7?.48/9$ '( .)($:#$:#(#?.')8$7*+$%.)8;$6#+0)/'/'%$)(6
0)(),'(,$/"#'+$6'%#)%#<$I/$0)9$:#$#%;#1 P3230S2[ !"#$ /+#)/0#(/$ *7$ ;+4+'/4%$ '( )+#$*7/#($"#8;748$'($+#64.'(,$/"#$.*(.#(1
.')889$ 4%#748$ '($ )6*8#%.#(/%$ )(6$ 9*4(, SZ$ %"*486$ :#$ 6'+#./#6$ ;+'0)+'89$ )/$ /"# /+)/'*($ )(6$ 7+#`4#(.9$ *7$ /*;'.)8$ ,84.*1
)648/%$ -"*$ .*(%'6#+$ /"#'+$ %&'($ 6'%#)%# 4(6#+89'(,$ .)4%#%<$R#64./'*($ *7$%&'($'(1 .*+/'.*'6$ );;8'.)/'*(%<$ !)+$ ;+#;)+)/'*(%
6'%?,4+'(,<$R#8)5)/'*(2$:#")>'*+)8$0*61 3)00)/'*($)(6$6+9(#%%$-'/"$/*;'.)8$,841 %"*486$ (*/$ :#$ 4%#6$ *($ ).4/#89$ '(3)0#6
'?.)/'*(2$*+$:'*7##6:).&$0)9$:#$"#8;748 .*.*+/'.*'6%$ )(6$ %&'($ "96+)/'*(2$ +#%;#.1 %&'(2$:#.)4%#$/"'%$*7/#($+#%48/%$'($%&'($'+1
'($;)/'#(/%$-'/"$"):'/4)8$%.+)/."'(,< /'>#892$ *7/#($ %90;/*0)/'.)889$ +#64.# +'/)/'*(<$@'6#$#77#./%$)%%*.')/#6$-'/"$/)+%
;+4+'/4%<$ I(")8#6$ )(6$ '(,#%/#6$ )88#+,#(% '(.846#$ 7*88'.48'/'%$ )(6$ ;"*/*%#(%'/'>'/9<
0H/4$S0Z2[5C14HS[ S(/'1%/);"98*.*.1 %"*486$ :#$ #8'0'()/#6$ '7$ 6*.40#(/#6$ /* !"#+#$'%$)$/"#*+#/'.$+'%&$*7$/)+$:#'(,$)$.)+1
.)8 )(/':'*/'.%$)+#$>#+9$"#8;748$'($/"# .)4%#$ %&'($ +)%"$ '($ .*(/+*88#6$ .")88#(,#%< .'(*,#($ :)%#6$ *($ *:%#+>)/'*()8$ %/46'#%
/+#)/0#(/$*7$;)/'#(/%$-"*$)+#$"#)>'89 @9%/#0'.$)(/'"'%/)0'(#%$)./$;+'0)+'89$:9 *7$-*+&#+%$4%'(,$/)+$.*0;*(#(/%$'($/"#'+
.*8*('H#6$*+$'(7#./#6$-'/"$PQ,0-3$-*<De :8*.&'(,$/"#$nA$+#.#;/*+%$'($/"#$6#+0'%2 *..4;)/'*(%<
=#;")8*%;*+'(%$*+$;#('.'88'()%#1+#%'%1 /"#+#:9$ )0#8'*+)/'(,$ "'%/)0'(#1'(64.#6
/)(/$;#('.'88'(%$K6'.8*5).'88'(2$*5).'88'(2 ;+4+'/4%<$n*-#>#+2$"'%/)0'(#$'%$*(89$*(#
$<>C>C<=D,FO
*+$.8*5).'88'(L$)+#$4%4)889$:#(#?.')8$7*+ *7$0)(9$0#6')/*+%$/")/$.)($'(64.#$;+4+'1
;)/'#(/%$-"*$)+#$(*/$.*8*('H#6$-'/" /4%$ *7$ /"#$ %&'(<$ !"#+#7*+#2$ .#+/)'($ ;)1 T)/4+)8$%4(8',"/$'%$ 7+#`4#(/89$ :#(#?.')8
+#%'%/)(/ PQ,0-3$-*$%/+)'(%<$_#.)4%#$#+9/"1 /'#(/%$ 0)9$ 6#+'>#$ 0'('0)8$ :#(#?/$ 7+*0 /*$ ;)/'#(/%$ -'/"$ SZ<$ n*-#>#+2$ '7$ /"#
!BF
%4(8',"/$ *..4+%$ '($ /"#$ %#//'(,$ *7$ "'," /'*($ *7$ %9%/#0'.$ ,84.*.*+/'.*'6%<$ @"*+/ ;)/'#(/%$ -'/"$ )$ 0#)($ +#64./'*($ '($ /"#
"#)/$ *+$ "40'6'/92$ /"#+#:9$ /+',,#+'(, .*4+%#%$ *7$ *+)8$ ,84.*.*+/'.*'6%$ 0)9$ :# @=PRSZ$ K@=PR'(,$ S/*;'.$ Z#+0)/'1
%-#)/'(,$)(6$;+4+'/4%2$'/$0)9$:#$6#8#/#1 );;+*;+')/#$7*+$)($).4/#$#5).#+:)/'*($*7 /'%L$ '(6#5$ *7$ eG$ ;#+.#(/$ '($ )88$ /#($ ;)1
+'*4%$ /*$ ;)/'#(/%<$ _+*)6:)(6$ ko_2 SZ$ -"#+#)%$ */"#+$ /+#)/0#(/$ 0#)%4+#% /'#(/%<$ P7$ (*/#2$ (*/$ )88$ ;)/'#(/%$ :#(#?/
:+*)6:)(6$koS2$()++*-:)(6$ko_$KOAA )+#$ :#'(,$ '(%/'/4/#6<$ I7$ )$ %"*+/$ .*4+%#$ *7 7+*0$ /+#)/0#(/<$ !"#+#7*+#$ /"#$ 0#6'.)1
(0L2$koS1A$KOcE$/*$cEE$(0L2$)(6$.*01 *+)8$,84.*.*+/'.*'6%$'%$,'>#(2$'/$'%$'0;*+1 /'*($ %"*486$ :#$ 6'%.*(/'(4#6$ '7$ ;)/'#(/%
:'(#6$koS1_$;"*/*/"#+);9$.)($:#$4%#1 /)(/$/*$/);#+$/"#$6*%),#$)(6$/*$:#,'($'(1 6*$ (*/$ +#%;*(6$ -'/"'($ 7*4+$ /*$ #',"/
748$)6M4(./%$'($/"#$/+#)/0#(/$*7$SZ<$I(1 /#(%'?#6$%&'($.)+#2$;)+/'.48)+89$-'/"$/*;'1 -##&%<$Z*%#$?(6'(,$)(6$-#881.*(/+*88#6
>#%/',)/'*($ *7$ /"#$ ;"*/*'004(*8*,'. .)8$ ,84.*.*+/'.*'6%$ )(6$ 7+#`4#(/$ :)/"'(, %/46'#%$)+#$(##6#6$7*+$/"'%$6+4,<
0#.")('%0%$+#%;*(%':8#$7*+$/"#+);#4/'. 7*88*-#6$:9$);;8'.)/'*($*7$#0*88'#(/%2$/* F#/"*/+#5)/#$ '%$ )($ )(/'0#/):*8'/#
#77#./'>#(#%%$ '(6'.)/#%$ /")/$ #;'6#+0)8 ;+#>#(/$+#:*4(6$3)+'(,$*7$SZ< -'/"$;*/#(/$'("':'/*+9$#77#./%$*($'(3)01
W=%$ )(6$ #*%'(*;"'8%$ 0)9$ :#$ /)+,#/%$ *7 0)/*+9$.9/*&'(#$%9(/"#%'%$)(6$.#88$."#1
koS$ ;"*/*/"#+);9$ -'/"$ )(6$ -'/"*4/ $]$NZ[PZ30H4 =9.8*%;*+'(#$'%$)$;*/#(/ 0*/)5'%<$ F#/"*/+#5)/#$ ")%$ :##($ 4%#6
;%*+)8#(2$-"#+#)%$ko_$#5#+/%$'004(*1 '004(*%4;;+#%%'>#$ 6+4,$ /")/$ )./%$ ;+'1 7*+$ SZ$ ;)/'#(/%$ -'/"$ +#.)8.'/+)(/$ 6'%1
%4;;+#%%'>#$#77#./%$>')$:8*.&'(,$*7$74(.1 0)+'89$ *($ !$ .#88%$ :9$ %4;;+#%%'(,$ .9/*1 #)%#2$)8/"*4,"$.*(/+*88#6$/+')8%$)+#$8).&1
/'*($ *7$ )(/',#(1;+#%#(/'(,$ W=%$ )(6$ )81 &'(#$/+)(%.+';/'*(<$!"#$6+4,$:'(6%$/*$.91 '(,<$ Z*%'(,$ '%$ 0*+#$ 7+#`4#(/$ /")($ /"#
/#+#6$&#+)/'(*.9/#$.9/*&'(#$;+*64./'*(< .8*;"'8'(2$ )($ '(/+).#8848)+$ ;+*/#'(2$ )(6 -##&89$ 6*%'(,$ 4%#6$ 7*+$ ;%*+')%'%<$ SH)1
b"*/*."#0*/"#+);9$ -'/"$ ;%*+)8#($ )(6 /"'%$ .*0;8#52$ '($ /4+(2$ '("':'/%$ .)81 /"'*;+'(#$'%$)$;4+'(#$)()8*,$-'/"$)(/'1'(1
koS$ 8',"/$0)9$ :#$ '(6'.)/#6$ '($;)/'#(/% .'(#4+'(2$ )$ 0*8#.48#$ +#`4'+#6$ 7*+$ '('/')1 3)00)/*+9$)(6$)(/';+*8'7#+)/'># #77#./%p
-'/"$ %#>#+#2$ -'6#%;+#)6$ SZ2$ )8/"*4," /'*($ *7$ .9/*&'(#$ ,#(#$ /+)(%.+';/'*(< )H)/"'*;+'(#$ ")%$ :##($ 4%#6$ 7*+$ %#>#+#
%/46'#%$ .*0;)+'(,$ '/$ -'/"$ */"#+$ 0*6#% F48/';8#$ %/46'#%$ 6#0*(%/+)/#$ /")/$ :*/" SZ2$ )8/"*4,"$ (*$ .*(/+*88#6$ /+')8%$ ")>#
*7$;"*/*/"#+);9$)+#$8'0'/#6<$@"*+/1/#+0 ."'86+#($)(6$)648/%$-'/"$%#>#+#$SZ2$+#1 :##($ +#;*+/#6<$ F9#8*%4;;+#%%'*($ '%$ )
)6>#+%#$#77#./%$-'/"$;"*/*/"#+);9$0)9 7+)./*+9$ /*$ .*(>#(/'*()8$ /+#)/0#(/2$ .)( %',('?.)(/$ )6>#+%#$ #77#./2$ )(6$ /"'*1
'(.846#$ #+9/"#0)2$ %&'($ ;)'(2$ ;+4+'/4%2 :#(#?/$ 7+*0$ %"*+/1/#+0$ .9.8*%;*+'(# ;4+'(#0#/"98$ /+)(%7#+)%#$ 8#>#8%$ 0)9
)(6$ ;',0#(/)/'*(<$ W*(,1/#+0$ )6>#+%# /+#)/0#(/<$o)+'*4%$*+)816*%'(,$+#,'0#(% ;+#6'./$'(6'>'64)8%$)/$+'%&<
#77#./%$'(.846#$;+#0)/4+#$%&'($),'(,$)(6 ")>#$ :##($ +#.*00#(6#6N$ D$ 0,V&,$ ")%
.4/)(#*4%$0)8',()(.'#%$K%##$=");%<$\OG ,#(#+)889$ :##($ 4%#6$ -'/"$ %4..#%%$ '(
20FD>G=0(%<=D,F@=A
)(6$ \OB$ 7*+$ 6#/)'8#6$ 6'%.4%%'*($ *7$ ;"*1 %"*+/1/#+0$ )(6$ 8*(,1/#+0$ KA$ 9#)+L$ 4%#2
/*/"#+);9$)(6$;"*/*."#0*/"#+);9L< -"#+#)%$ %*0#$ )4/"*+'/'#%$ )6>*.)/# 0HS43/43ZH6 I[T1 $ '%$ &(*-($ /*$ %4;1
:*691-#',"/Y'(6#;#(6#(/$ 6)'89$ 6*%'(, ;+#%%$ I,U$ +#%;*(%#%$ )(6$ 6*-(+#,48)/#
*7$)648/%$-'/"$ADE$0,$K8*-$6*%#L$*+$OEE !"\$ .#88$ ;+*8'7#+)/'*($ )(6$ 74(./'*(<$ @#>1
">AF@C,H@P,C@>0
0,$K"',"$6*%#L$6)'89$*7$.9.8*%;*+'(#$0'1 #+)8$%/46'#%$*7$;)/'#(/%$-'/"$SZ2$'(.8461
SZ$;)/'#(/%$-"*$);;#)+$#+9/"+*6#+0'. .+*#048%'*(<$!+#)/0#(/$-'/"$.9.8*%;*+1 '(,$)$048/'.#(/#+2$6*4:8#1:8'(62$;8).#:*1
*+$ -"*$ ")>#$ -'6#%;+#)6$ %#>#+#$ %&'( '(#$'%$)%%*.')/#6$ -'/"$ +#64.#6$ %&'($6'%1 .*(/+*88#6$/+')8DG$)(6$/-*$8*(,1/#+0$*;#(
6'%#)%#$ +#%'%/)(/$ /*$ *4/;)/'#(/$ /"#+);9 #)%#$)(6$)($'0;+*>#6$`4)8'/9$*7$8'7#$K%## /+')8%2DB2eE$ ")>#$ 6#0*(%/+)/#6$ /")/$ /+#)/1
%"*486$ :#$"*%;'/)8'H#6$ :#7*+#$ .*(%'6#+1 =");<$ \Oc$ 7*+$ 74+/"#+$ 6'%.4%%'*(L<$ Z'%1 0#(/$-'/"$+#.*0:'()(/$"40)($I[T1 $+#1
'(,$ %9%/#0'.$ )8/#+()/'>#$ /"#+);'#%$ K%## .*(/'(4)/'*($*7$/+#)/0#(/$0)9$+#%48/$'( %48/%$'($.8'('.)8$'0;+*>#0#(/<$R#64./'*(
@9%/#0'.$ !"#+);9L<$ I($ 0)(9$ .)%#%2$ +#1 +);'6$ +#8);%#$ *7$ %&'($ 6'%#)%#2$ )8/"*4," '($.8'('.)8$%#>#+'/9$*7$SZ$.*++#8)/#6$-'/"
0*>'(,$/"#$;)/'#(/$7+*0$#(>'+*(0#(/)8 %*0#$ ;)/'#(/%$ 0)9$ ")>#$ %4%/)'(#6$ +#1 /"#$):'8'/9$ *7$I[T1 $/*$6#.+#)%#$ /*/)8$.'+1
)88#+,#(%$ *+$ #0*/'*()8$ %/+#%%#%2$ '(/#(%# 0'%%'*(<$ U8#>)/#6$ %#+40$ .+#)/'('(#$ *+ .48)/'(,$#*%'(*;"'8$.*4(/%<$I(34#(H)18'&#
;)/'#(/$ #64.)/'*(2$ )(6$ )%%4+)(.#$ *7 0*+#$ %',('?.)(/$ +#()8$ '0;)'+0#(/$ )(6 %90;/*0%$ )+#$ .*00*(89$ *:%#+>#6$ %'6#
.*0;8')(.#$ -'/"$ /"#+);9$ +#%48/%$ '($ ) "9;#+/#(%'*($ )+#$%;#.'?.$%'6#$ #77#./%$ *7 #77#./%$#)+89$'($/"#$/+#)/0#(/$.*4+%#<
%4%/)'(#6$ '0;+*>#0#(/$ '($ /"#'+$ SZ< .*(.#+($-'/"$.9.8*%;*+'(#$4%#<
=8#)+'(,$ *7$ /"#$ ;)/'#(/s%$ %&'($ 64+'(, ZXCN0_2XCO !+#)/0#(/$ *7$ ;)/'#(/%$ -'/"
"*%;'/)8'H)/'*($ )8%*$ )88*-%$ /"#$ ;)/'#(/ CHS0X4SCOZN0S4[ F9.*;"#(*8)/#$ 0*1 %#>#+#$SZ$)(6$#8#>)/#6$%#+40$I,U$8#>#8%
/*$4(6#+,*$)88#+,#($%&'($/#%/'(,$)(6$);1 7#/'8$ '%$ )$ ;4+'(#$ :'*%9(/"#%'%$ '("':'/*+ -'/"$ 0*(*.8*()8$ )(/'1I,U$ ")%$ %"*-(
;+*;+')/#89$ .*(/+*88#6$;+*>*.)/'>#$ .")81 4%#6$)%$)($'004(*%4;;+#%%)(/$'($*+,)( 8).&$*7$#7?.).9$'($/"+##$)648/$;)/'#(/%eA
8#(,#%$ /*$ .*++#./89$ '6#(/'79$ *+$ +48#$ *4/ /+)(%;8)(/)/'*(2$ /")/$ ")%$ :##($ 4%#6$ 7*+ )(6$ %',('?.)(/$ '0;+*>#0#(/$ '($ /"+##
;*/#(/')8$)88#+,#(%< /+#)/0#(/$ *7$ +#7+)./*+9$ '(3)00)/*+9 )6*8#%.#(/$;)/'#(/%<e\
%&'($ 6'%*+6#+%$ K%##$ =");<$ \\GL<$ P;#(1
8):#8$%/46'#%$+#;*+/$/")/$%"*+/1/#+0$*+)8 CNN4314H50XX2HZS\43CP] k(8'&#$ )88#+1
+OAC=-@E(%<=D,FO
09.*;"#(*8)/#$ 0*7#/'82$ \$ ,$ 6)'892$ )% ,'.$ +"'('/'%$ )(6$ #5/+'(%'.$ )%/"0)2$ '0041
[][S4X0$51N2$Z$Z3S0$Z0E[ !"#$ 4%#$ *7 0*(*/"#+);9$ +#%48/%$ '($ .8#)+'(,$ *7$ %&'( (*/"#+);9$ -'/"$ )#+*)88#+,#(%$ ")%$ (*/
%9%/#0'.$ ,84.*.*+/'.*'6%2$ %4."$ )%$ *+)8 8#%'*(%$ '($ )648/%$ -'/"$ SZ$ +#%'%/)(/$ /* ;+*>#($/*$:#$#7?.).'*4%$'($/"#$/+#)/0#(/
;+#6('%*(#2$ '%$ +)+#89$ '(6'.)/#6$ '($ /"# */"#+$ /+#)/0#(/2$ '(.846'(,$ /*;'.)8$ )(6 *7$ SZ<$ !"#+#$ )+#$ )(#.6*/)8$ +#;*+/%$ *7
/+#)/0#(/$*7$."+*('.$SZ<$@*0#$;)/'#(/% *+)8$ %/#+*'6%$ )(6$ ;%*+)8#($ )(6$ koS :*/"$ 6'%#)%#$ #5).#+:)/'*($ )(6$ '0;+*>#1
)(6$ ;"9%'.')(%$ ;+#7#+$ /"#$ 4%#$ *7$ %9%1 8',"/<$ !"#$ 6+4,$ ")%$,#(#+)889$:##($ -#88 0#(/<$ S$ +#.#(/$ %/469$ *7$ %;#.'?.$ '0041
/#0'.$,84.*.*+/'.*'6%$/*$)>*'6$/"#$/'0#1 /*8#+)/#6$-'/"$/"#$#5.#;/'*($*7$*(#$;)1 (*/"#+);9$*>#+$A\$0*(/"%$'($)648/%$-'/"
.*(%40'(,$%&'($.)+#$'(>*8>'(,$"96+)/'*( /'#(/$ 6#>#8*;'(,$ "#+;#%$ +#/'('/'%$ /")/ SZ$ %#(%'/'H#6$ /*$ 64%/$ 0'/#$ )88#+,#(
)(6$ /*;'.)8$ /"#+);9<$ n*-#>#+2$ /"#$ 6+)1 0)9$")>#$:##($%#.*(6)+9$/*$/"'%$'0041 %"*-#6$ '0;+*>#0#(/$ '($ @=PRSZ$ )%
0)/'.$ .8'('.)8$ '0;+*>#0#(/$ /")/$ 0)9 (*%4;;+#%%'>#$),#(/<$Z*%#1+#8)/#6$:*(# -#88$)%$+#64./'*($'($/*;'.)8$%/#+*'6$4%#<eO
*..4+$ -'/"$ %9%/#0'.$ ,84.*.*+/'.*'6%$ '% 0)++*-$ %4;;+#%%'*($ ")%$ )8%*$ :##($ *:1 n*-#>#+2$-#881.*(/+*88#6$%/46'#%$)+#$%/'88
7+#`4#(/89$ )%%*.')/#6$ -'/"$ )$ %#>#+#$ +#1 %#+>#6<$ @'0'8)+$ +#%48/%$ -#+#$ ;+#>'*4%89 +#`4'+#6$/*$6#/#+0'(#$/"#$+*8#$7*+$'0041
:*4(6$3)+#$*7$SZ$)7/#+$/"#$6'%.*(/'(4)1 +#;*+/#6$ '($ )(*/"#+$ *;#($ %/469$ *7$ /#( (*/"#+);9$-'/"$/"'%$6'%#)%#<
!B#
4^S3C$Z3PZ34CN5P\ZSZP\434[0[ U5/+)1 8)./*:).'884%$%/+)'(%2$0)9$")>#$;+#>#(/)1 6#+0)/'/'%N$ a#(#1#(>'+*(0#(/$ '(/#+).1
.*+;*+#)8$;"*/*;"#+#%'%$.*(%'%/%$*7$/"# /'>#2$ 8)%/'(,$ #77#./%$ *($ /"#$ '(.'6#(.#$ *7 /'*(%< @,C11$342,+1(),B%%-)&1 $$*NO2$\EEe
AE< @4,'4+)$ n$ #/$ )8N$ W)+,#1%.)8#$ ZTS
;)%%),#$*7$;%*+)8#(1/+#)/#6$8#4&*.9/#% SZ$'($)$%4:%#/$*7$;)/'#(/%<$F*+#$+#%#)+." 0'.+*)++)9$ )()89%'%$ *7$ )/*;'.$ %&'(
/"+*4,"$)($#5/+).*+;*+#)8$koS$8',"/ '(/*$ %4:,+*4;%$ *7$ +#%;*(6#+%2$ *;/'0)8 8#%'*(%$%"*-%$*>#+#5;+#%%'*($*7$)($#;'1
%9%/#0<$=8'('.)8$'0;+*>#0#(/$'($%&'($8#1 /"#+);9$ Q+*4/#$ K'<#<2$ 6'+#./89$ /*$ '(7)(/$ *+ 6#+0)8$ 6'77#+#(/')/'*($ ,#(#$ .84%/#+$ '(
%'*(%$)%%*.')/#6$-'/"$+#64.#6$I,U$8#>#8% >')$ 0*/"#+s%$ 0'8&Lp$ 8#(,/"$ *7$ /+#)/0#(/p /"#$)8/#+()/'>#$;)/"-)9$)(6$8).&$*7$;+*1
")%$:##($+#;*+/#6$'($)$7#-$;)/'#(/%$-'/" %/+)'($*7$8)./*:).'884%X2$)%$-#88$)%$0#.")1 /#./'>#$,#(#$#5;+#%%'*($'($/"#$.*+('?#6
#(>#8*;#< H3,@,D$3%05&1 $"%NAce2$\EED
%#>#+#2$+#%'%/)(/$SZ$-"*$-#+#$/+#)/#6 ('%0%$'(>*8>#6$'%$.8#)+89$(##6#6<eG A\< n*0#9$ _$ #/$ )8N$ =9/*&'(#%$ )(6$ ."#0*1
-'/"$#5/+).*+;*+#)8$;"*/*;"#+#%'%$)(6 &'(#%$*+."#%/+)/#$)/*;'.$%&'($'(3)00)1
/*;'.)8$,84.*.*+/'.*'6%< $\0H4[45\43OCN5X4E0$CS0ZH[ @#>#+)8 /'*(< @, C11$342, +1(), B%%-)&1 $$*NACG2
;8).#:*1.*(/+*88#6$.8'('.)8$/+')8%$")># \EEe
%4,,#%/#6$/")/$;)/'#(/%$-'/"$%#>#+#$SZ \B< F.a'+/$ W^2$ _#.&$ WSN$ I(()/#$ '004(#
P3ZO0ZS0$[ b#+'()/)8$ )60'('%/+)/'*($ *7 6#7#./%$ '($ )/*;'.$ 6#+0)/'/'%<$ @, C11$342
/"#$ ;+*:'*/'.$ V0"5&.0"(11-*, 3#0%)&*-* 0)9$:#(#?/$7+*0$/+#)/0#(/$-'/"$/+)6'1 +1(),B%%-)&1 $$*N\E\2$\EEe
%/+)'($aa$-)%$%"*-($/*$+#64.#$/"#$'(.'1 /'*()8$ ="'(#%#$ "#+:)8$ /"#+);9$ K%## OA< F*+)+$ T$ #/$ )8N$ !"#$ ,#(#/'.%$ *7$ )/*;'.
6#(.#$ *7$ SZ$ '($ )/1+'%&$ ."'86+#($ 64+'(, =");<$\c\L<$!"#9$")6$%',('?.)(/89$+#1 6#+0)/'/'%< @,C11$342,+1(),B%%-)&1,$$*NC2
64.#6$%&'($6'%#)%#$)(6$6#.+#)%#6$;+4+'1 \EEe
/"#$ ?+%/$ \$ 9#)+%$ *7$ 8'7#<ec$ F*/"#+%$ -#+#
O\< W#4(,$Z^2$_'#:#+$ !N$ S/*;'.$ 6#+0)/'/'%<
,'>#($ #'/"#+$ ;8).#:*$ *+$8)./*:).'884%$aa /4%<$!"#$:#(#?.')8$+#%;*(%#$*7$="'(#%# V0)"$5 !($NADA2$\EEO
6)'89$ 7*+$ c$ -##&%$ :#7*+#$ 6#8'>#+9$ )(6 "#+:)8$/"#+);92$"*-#>#+2$'%$*7/#($/#01 Oc< U'."#(?#86$W[$#/$)8N$@)7#/9$)(6$#7?.).9
/"#($#'/"#+$/"#$0*/"#+$K'7$:+#)%/$7##6'(,L ;*+)+92$)(6$#77#./'>#(#%%$0)9$-#)+$*77 *7$ ;'0#.+*8'04%$ KS@F$ BGAL$ .+#)0$ Au
*+$ /"#$ '(7)(/$ .*(/'(4#6$ -'/"$ 6)'89$ /"#+1 6#%;'/#$.*(/'(4#6$/+#)/0#(/<$!"#$;*%%'1 '($ /"#$ /+#)/0#(/$ *7$0'86$ )(6$ 0*6#+)/#
:'8'/9$*7$"#;)/'.$/*5'.'/92$.)+6').$%'6#$#71 )/*;'.$6#+0)/'/'%$'($."'86+#($)(6$)6*8#%1
);9$ 7*+$ e$ 0*(/"%<$ I($ )$ 7*88*-14;$ %/4692 .#(/%< @,C%,C"08,D$3%05&1 #(NcBD2$\EE\
/"#$%)0#$,+*4;$)%%#%%#6$/"#$;#+%'%/#(.# 7#./%2$*+$'6'*%9(.+)/'.$+#)./'*(%$+#0)'(% OD< o)($ Z#+$ F##+$ j_$ #/$ )8N$ !"#$ 0)(),#1
*7$ ;*/#(/')8$ /*$ ;+#>#(/$ SZ$ )/$ c$ 9#)+%<eD )$.*(.#+(<$!"#$%;#.'?.$'(,+#6'#(/%$*7 0#(/$*7$0*6#+)/#$/*$%#>#+#$)/*;'.$6#+1
!"#$ +#%48/%$ %4,,#%/$ /")/$ /"#$ ;+#>#(/'># /"#$"#+:%$)8%*$+#0)'($/*$:#$#84.'6)/#6 0)/'/'%$'($)648/%$-'/"$/*;'.)8$34/'.)%*(#
)(6$%*0#$;+#;)+)/'*(%$")>#$:##($7*4(6 ;+*;'*()/#<$ !"#$ T#/"#+8)(6%$ S648/
#77#./$ *7$ V0"5&.0"(11-*$ aa$ *($ SZ$ .*486
S/*;'.$ Z#+0)/'/'%$ @/469$ a+*4;<$ H3, @
#5/#(6$ :#9*(6$ '(7)(.9<$ I($ )$ %#.*(6 /*$:#$.*(/)0'()/#6$-'/"$.*+/'.*%/#+1 D$3%05&1 $#'NAAAc2$ABBB
%/4692$ ."'86+#($ -'/"$ SZ$ /+#)/#6$ -'/" *'6%<$S/$;+#%#(/2$="'(#%#$"#+:)8$/"#+);9 OC< _'8%:*+*4,"$ j$ #/$ )8N$ IW1OA$ '%$ )%%*.')/#6
/-* V0"5&.0"(11-*$ %/+)'(%$ 7*+$ e$ -##&%$ #51 7*+$SZ$'%$.*(%'6#+#6$'(>#%/',)/'*()8< -'/"$ .4/)(#*4%$ 890;"*.9/#$ )(/',#(1
;#+'#(.#6$ '0;+*>#0#(/$ *7$ /"#'+$ #.H#0) ;*%'/'>#$%&'($"*0'(,$!$.#88%$'($;)/'#(/%
-'/"$ )/*;'.$ 6#+0)/'/'%<$ @, C11$342, +1()
.*0;)+#6$/*$;8).#:*$/+#)/#6$;)/'#(/%2$)81 B%%-)&1 $$&NcAG2$\EEe
/"*4,"$ /"#'+$ @=PRSZ$ '(6#5$ 6'6$ (*/ 6&j('&4&'&8!&+ OG< @*(&*89$ U$ #/$ )8N$ IW1OAN$ S$ (#-$ 8'(&
.")(,#$ %',('?.)(/89<ee$ !"#$/+#)/0#(/$ +#1 :#/-##($ !$ .#88%$ )(6$ ;+4+'/4%$ '($ )/*;'.
%<=(IJHH(D=I=D=0E=(H@AC(I>D(,HH(E<,FC=DA( %&'($ '(3)00)/'*(<$ @, C11$342, +1(), B%%-!
%;*(%#$ -)%$ 7*4(6$ /*$ :#$ 0*+#$ ;+*1
(*4(.#6$ '($ ;)/'#(/%$ -'/"$ ;*%'/'>#$ %&'(1 @A(,G,@H,QH=(,C(///.B@1-X.E>-.(( )&1 $$&NcAA2$\EEe
cc< n*)+#$=2$W'$i)($b*$S2$i'88')0%$nN$@9%1
;+'.&$ /#%/%$ )(6$ #8#>)/#6$ I,U$ 8#>#8%<$ S(1 A< n)('?($ jF2$ R)&M)$ aN$ Z'),(*%/'.$ 7#)1 /#0)/'.$+#>'#-$*7$/+#)/0#(/%$7*+$)/*;'.
*/"#+$%/469$*7$."'86+#($-'/"$0*6#+)/#$/* /4+#%$ *7$ )/*;'.$ 6#+0)/'/'%<$ C"50, D$3% #.H#0)< G$015#,J$"#)&1,C**$** #NA2$\EEE
%#>#+#$ SZ$ /+#)/#6$ 7*+$ G$ -##&%$ -'/"$ VQ K$)$3$&1 )%Ncc2$ABGE DD< _#+,#+$!a$#/$)8N$!"#$4%#$*7$/*;'.)8$.)81
/$3%$)5-%$ '($ )$ ;8).#:*1.*(/+*88#6$ %/469 G< W#4(,$ Z^$ #/$ )8N$ T#-$ '(%',"/%$ '(/* .'(#4+'($ '("':'/*+%$ '($ 6#+0)/*8*,9N
)/*;'.$6#+0)/'/'%<$@,+1(),B)>$*5 $$!NeDA2 %)7#/9$.*(.#+(%<$R#;*+/$*7$/"#$S0#+'.)(
%"*-#6$ ;#+%'%/#(/$ '0;+*>#0#(/$ '( \EEc S.)6#09$ *7$ Z#+0)/*8*,9$ S%%*.')/'*(
@=PRSZ$ )/$ Ae$ -##&%<eC$ !"#%#$ %/46'#% B< =*+&$Fj$#/$)8N$T#-$;#+%;#./'>#%$*($#;'1 !)%&$[*+.#<$@,C%,C"08,D$3%05&1 "#NGAG2
%4,,#%/$ /")/$ ;+*:'*/'.%2$ *+$ )/$ 8#)%/$ %*0# 6#+0)8$ :)++'#+$ 69%74(./'*($ '($ )/*;'. \EEe
!"#$%&'()V *7$)648/"**6<$F#($)+#$0*+#$7+#`4#(/89
)77#./#6$ /")($ -*0#(<$ !"#$ ;#)&$ '(.'1
)%$ .)4%)8<$ !"#$ %/)/#$ *7$ "96+)/'*($ *7
/"#$ %&'($ '($ #86#+89$ ;)/'#(/%$ ")%$ :##(
6#(.#$ '($ :*/"$ 0)8#%$ )(6$ 7#0)8#%$ '% %"*-($ /*$ :#$ 6#.+#)%#6<c$ !"#$ +*8#$ *7
)+*4(6$DE$/*$eD$9#)+%$*7$),#<$!"#+#$'%$) '(7#./'*($;+#>'*4%89$+#.#'>#6$04."$)/1
HI''IA!;54>T&'! %#.*(6$ ;#)&$ '($ -*0#($ )+*4(6$ AD$ /* /#(/'*($ '($ /"#$ 8'/#+)/4+#<$ S($ '(/#+()8
\D$ 9#)+%$ *7$ ),#<$ T40048)+$ #.H#0)$ '% 7*.4%$*7$'(7#./'*(2$'(.846'(,$/##/"2$4;1
!+@5N*>%&+5[*'QA&R5 +)+#$ '($ '(7)(.9$ )(6$ ."'86"**6<$ !"# ;#+$ +#%;'+)/*+9$ /+)./2$ )(6$ 8*-#+$ +#%;'1
;#)&$ ),#$ *7$ *(%#/$ '($ ."'86"**6$ '%$ D +)/*+9$ /+)./2$ -)%$ 7*4(6$ '($ eG$ ;#+.#(/
$%;(+*>I,YP;I;*D( 9#)+%<A *7$ ;)/'#(/%$ '($ *(#$ %/469<D$ S$ +*8#$ 7*+
#(>'+*(0#(/)8$ )88#+,#(%2$ %4."$ )%$ /"#
H(@IA!;*, "*4%#$ 64%/$ 0'/#$ )(6$ +0)8(80, 01.("0)*
&C@>H>1O(,0B($,C<>1=0=A@A ")%$ )8%*$ :##($ /*4/#6<c$ T40048)+$ #.1
+JA,0(YJD1@0 H#0)$ ")%$ :##($ +#;*+/#6$ 64+'(,$ /"#+1
!"#$ ;)/"*,#(#%'%$ *7$ (40048)+$ #.1 );9$ -'/"$ '%*/+#/'(*'($ )(6$ ,*86<e2C
H#0)$ '%$ 4(&(*-(<$ !"#$ >)%/$ 0)M*+'/9 a#(#+)8'H#6$(40048)+$#.H#0)$'%$%##(
82552;#'(&!k&5# *7$;)/'#(/%$-'/"$(40048)+$#.H#0)$6* '($ ;)/'#(/%$ -'/"$ "#;)/'/'%$ =$ 4(6#+,*1
(*/$ ")>#$ )$ ;#+%*()8$ *+$ 7)0'89$ "'%/*+9 '(,$ .*0:'()/'*($ /"#+);9$ -'/"$ '(/#+1
&F@B=-@>H>1O
*7$)/*;92\2O$)8/"*4,"$(40048)+$;8)`4#% 7#+*(1 $ \:$ )(6$ +':)>'+'(<G2B$ F#+.4+9
T40048)+$ #.H#0)$ K)8%*$ (40048)+ 0)9$ :#$ %##($ '($ )/*;'.$ #.H#0)<$ T41 )0)8,)0$-)%$'0;8'.)/#6$)%$)$.)4%#$'(
!B- 6#+0)/'/'%L$ '%$ ;+#6*0'()(/89$ )$ 6'%#)%# 0#+*4%$ 7)./*+%$ ")>#$ :##($ '0;8'.)/#6 /-*$;)/'#(/%<AE
82552;#'
&!k&5#
#%(#(:;#8!&(
/012345!B67 "@AC>F,C<>H>1O( >I( 0J--JH,D
=EP=-,.( $,D,?=D,C>A@A( E>0C,@0@01( FH,A-,( ,0B
0=JCD>F<@HA(TAE,H=MEDJACU(,0B(FA>D@,A@I>D-(=F@B=DM
#HA>(?0>/0(,A(&*)1+*&$(15(#%. -,H(<OF=DFH,A@,(/@C<(AF>01@>A@A(,D=(FD=A=0CS(/@C<
#(E<D>0@E(B@A>DB=D(>I(J0?0>/0(=C@>H>1O. ,(AJF=DKE@,H(B=D-,H(F=D@G,AEJH,D(@0KHCD,C=(>I(HO-M
$,FJH=A(,0B(F,FJH>G=A@EH=A(E>,H=AE=(C>( F<>EOC=AS(-,ED>F<,1=AS(,0B(=>A@0>F<@HA.
I>D-(0J--JH,D(FH,fJ=A(/@C<(>>P@01S(
0)9$+#%#0:8#$8'."#($%'0;8#5$."+*('.4%
EDJACS(,0B(AE,H=.
0'.+*%.*;'.)889<
5>AC(E>-->0(A@C=A(>I(@0G>HG=-=0C(,D=(
JFF=D(=]CD=-@C@=AS(@0EHJB@01(C<=(B>DA,H(
<,0BA(@0(/>-=0S(,0B(C<=(H>/=D(=]CD=-@M 9@II=D=0C@,H(9@,10>A@A
C@=A(@0(-=0. /012345!B6" 8J--JH,D( =EP=-,( @0( ,( E<@HB.
!DJAC=B( FH,fJ=A.( T2A=B( /@C<( F=D-@AA@>0( ID>-( $. @## _*5$AD1A<
$,C<>H>1O(-,O(A<>/(,EJC=S(AJQ,EJC=S(>D(
E<D>0@E(=EP=-,. ;@>S(5.9.S(Y=C<(7AD,=H(9=,E>0=AA(5=B@E,H(!=0C=DS
Y>AC>0S(5,AA,E<JA=CCA.U !>-FH@E,C@>0A
%&'($ '%$ ,#(#+)889$ (*+0)82$ :4/$ 0)9$ :# T40048)+$#.H#0)$0)9$:#$.*0;8'.)/#6
!H@0@E,H(4@0B@01A :9$%#.*(6)+9$:)./#+')8$'(7#./'*(<
5#+*/'.<$b+4+'/4%$>)+'#%$7+*0$0'('0)8$/*
i#8816#0)+.)/#62$ .*'(1%");#6$ ;8)`4#% %#>#+#<$ =#(/+)8$ +#%*84/'*($ 0)9$ *..4+2
7*+0$7+*0$.*)8#%.'(,$;);48#%$)(6$;);1 8#)6'(,$ /*$ )((48)+$ 7*+0%<$ ="+*('.
48*>#%'.8#%<$ b'(;*'(/$ **H'(,$ )(6$ .+4%/1 ;8)`4#%$ )+#$ 6+92$ %.)892$ )(6$ 8'."#('?#6< $D>10>A@A(,0B(!H@0@E,H(!>JDA=
'(,$ #>#(/4)/#$ )(6$ )+#$ 6'%/'(./'>#$ K[',< !"#$.8)%%'.$6'%/+':4/'*($*7$8#%'*(%$'%$/"# !"#$ .*4+%#$ '%$ 4%4)889$ ."+*('.<$ R#.4+1
AD1AL<$ =+4%/$ 0)9$ "*-#>#+$ .*>#+$ /"# #5/#(%*+$ )%;#./%$ *7$ /"#$ #5/+#0'/'#%<$ I( +#(.#$ )/$ ;+'*+$ %'/#%$ *7$ '(>*8>#0#(/$ '%$ )
#(/'+#$%4+7).#$K[',<$AD1\L<$b8)`4#%$+)(,# -*0#(2$ /"#$ 4;;#+$ #5/+#0'/'#%2$ '(.8461 7#)/4+#$*7$/"#$6'%#)%#<D
7+*0$A$/*$O$.0$'($%'H#<$!"#$%4++*4(6'(, '(,$/"#$6*+%)8$)%;#./%$*7$/"#$")(6%2$)+#
0*+#$ 7+#`4#(/89$ )77#./#6$ /")($ /"#
8*-#+$ #5/+#0'/'#%<\$ U546)/'>#$ 6'%.*'6 %D=,C-=0C
)(6$8'."#(*'6$6#+0)/'/'%$*7$@48H:#+,#+1
!*;'.)8$ %/#+*'6%$ '($ /"#$ 0'61$ /*$ "',"1
a)+:#$0)9$+#;+#%#(/$)$>)+')(/$*7$(401
;*/#(.9$+)(,#$)+#$/"#$0)'(%/)9$*7$/+#)/1
048)+$#.H#0)<AA
0#(/<$ !"#$ .)8.'(#4+'($ '("':'/*+%2$ /).1
;,Q>D,C>DO(%=ACA #+,&'.)'
b)/."$ /#%/'(,$ 0)9$ :#$ 4%#748$ '($ ."+*('. C'II#.#(-'G2)C'G3(%/'/)%I)
+#.)8.'/+)(/$.)%#%$/*$+48#$*4/$)$%4;#+'01 ;J$$J2G.)6+O#$G
;*%#6$ .*(/)./$ 6#+0)/'/'%<$ I($ )$ %#+'#% !"#$%&'()*+
7+*0$I(6')2$M4%/$4(6#+$*(#1")87$*7$DE$;)1 #HH=D1@E(E>0C,EC(B=D-,C@C@A
/'#(/%$")6$;*%'/'>#$;)/."$/#%/%$/*$.*8*;"1 +C,A@A(B=D-,C@C@A
*(92$ ('/+*74+)H*(#2$ (#*09.'($ %487)/#2 #C>F@E(B=D-,C@C@A
)(6$ ('.$ %487)/#<A\$ @#+40$ '004(*1 %@0=,(E>DF>D@A
,8*:48'($U$8#>#8%$)+#$(*+0)8<
,"-#'.)/
7-F=C@1>
+F=E@,H(%=ACA $A>D@,A@A(TH>01MAC,0B@01(FH,fJ=AU
n'%/*;)/"*8*,'.$ .")(,#%$ )+#$ +#3#./'># 5OE>A@A(IJ01>@B=A(TH>01MAC,0B@01(FH,fJ=AU
*7$/"#$%/),#$)/$-"'."$/"#$:'*;%9$'%$;#+1 $,1=C(B@A=,A=S(/<=0(C<=D=(@A(J0@H,C=D,H(
7*+0#6<$ S.4/#892$ /"#+#$ '%$ %;*(,'*%'%2 @0G>HG=-=0C(>I(0@FFH=h,D=>H,(
-'/"$ *+$ -'/"*4/$ %;*(,'*/'.$ 0'.+*>#%'1 3C<=D(0J--JH,D(B=D-,C>A=A
/012345!B6! 8J--JH,D(=EP=-,.(!>@0MA<,F=B .8#%<$ I($ %4:).4/#$;8)`4#%2$ /"#+#$ '%$ ;)+)1 o(4@]=B(BDJ1(=DJFC@>0
FH,fJ=A(/@C<(F@0F>@0C(=D>A@>0A(,0B(=]E>D@,C@>0A.(T7-M &#+)/*%'%2$ %.)8#1.+4%/2$ #;'6#+0)8$ "9;#+1 o($@COD@,A@A(D>CJ0B,
,1=(ID>-( 9@G@A@>0(>I( 9=D-,C>H>1OS( 20@G=DA@CO( >I(C<= ;8)%')2$ )(6$ %;*(,'*%'%$ *7$ /"#$ #;'6#+0'% 0*12+#%34*)%54$
p@C/,C=DAD,0BS( l><,00=AQJD1S( +>JC<( #ID@E,S( /@C< K[',<$ AD1OL<$ !"#+#$ '%$ )$ 0'5#6$ .#88$ '(?81
%@0=,(E>DF>D@A
F=D-@AA@>0(ID>-($D>I=AA>D(9.(5>B@.U /+)/#$ '($ /"#$ 6#+0'%<$ ="+*('.$ 8#%'*(% !B.
+*8'04% )(6$;'0#.+*8'04%2$)(6$/)+$;+#;1
)+)/'*(%$ )+#$ )8%*$ #77#./'>#<$ U0*88'#(/%
8*,'.)8$ 7)./*+%$ '($ ;)/'#(/%$ -'/"$ ;+4+',*
(*648)+'%$ )(6$ 8'."#($ %'0;8#5$ ."+*('.4% ;7!"&8(+75$;&g(
.)($:#$)66#6$)6M4(./'>#89$'7$/"#+#$'%$).1 ")%$ :##($ )8846#6$ /*$ '($ /"#$ 8'/#+)/4+#<
.*0;)(9'(,$ 5#+*%'%<$ P+)8$ )(/'"'%/)1
0'(#%$ )+#$ 4%#748$ '7$ ;+4+'/4%$ '%$ %#>#+#<
P(#$%/469$*7$;+4+',*$(*648)+'%$;)/'#(/%
7*4(6$/")/$);;+*5'0)/#89$*(#1")87$*7$ce
!"'387!2+
P+)8$)(/':'*/'.%$)+#$'(6'.)/#6$-"#($%#.1
*(6)+9$ '(7#./'*($ '%$ ;+#%#(/<$ [*+$ -'6#1
;)/'#(/%$ ")6$ )$ "'%/*+9$ *7$ 6#;+#%%'*(2
)(5'#/92$*+$*/"#+$/+#)/):8#$;%9."*8*,'.)8
#89($'2'7:3(
%;+#)6$'(>*8>#0#(/2$;"*/*/"#+);9$-'/"
:+*)6$*+$()++*-$:)(6$48/+)>'*8#/$_$0)9
6'%*+6#+%<\E$ W'."#($ %'0;8#5$ ."+*('.4%
;)/'#(/%$ )8%*$ ")6$ "',"#+$ 6#;+#%%'*(
8392;#'7+
:#$:#(#?.')8< %.*+#%$ '($ *(#$ %/469<\A$ i"#/"#+$ /"#%#
#0*/'*()8$7)./*+%$)+#$%#.*(6)+9$/*$/"#$;+'1
0)+9$ 6#+0)/*8*,'.$ 6'%#)%#2$ *+$ -"#/"#+
#%(#(:;#8!&(
;7!"&8(+75$;&g(!"'387!2+( /"#9$)+#$;+'0)+9$)(6$.)4%)/'>#$K)8/#+'(,
#89($'2'7:3(8392;#'7+ ;#+.#;/'*($*7$'/."L$'%$4(.8#)+<$I/$")%$:##(
;*%/48)/#6$ /")/$ (#4+*/+)(%0'//#+%$ /")/
&F@B=-@>H>1O )77#./$0**62$%4."$)%$6*;)0'(#2$%#+*/*1
W'."#($%'0;8#5$."+*('.4%$)77#./%$)648/%2 ('(2$ *+$ *;'*'6$ ;#;/'6#%2$ 0*648)/#$ ;#+1
;+#6*0'()(/89$7+*0$),#%$OE$/*$DE$9#)+%< .#;/'*($ *7$ '/."$ >')$ 6#%.#(6'(,$ %;'()8
[#0)8#%$ )+#$ )77#./#6$ 0*+#$ .*00*(89 ;)/"-)9%<AO$ P:%#%%'>#1.*0;48%'>#$ 6'%1 ;@E<=0(+@-FH=](!<D>0@EJA
/")($0)8#%<$b+4+',*$(*648)+'%$0)9$*..4+ *+6#+$ ")%$ )8%*$ :##($ )%%*.')/#6$ -'/"
;'.&'(,$'($/"#%#$6'%*+6#+%<\\ #HA>(?0>/0(,A(,(6"+&("#%0*0*)$1*"16#7
)/$ )(9$ ),#2$ :4/$ 0*%/$ ;)/'#(/%$ )+#$ :#1
S/$ )$ 0'.+*%.*;'.$ 8#>#82$ '(.+#)%#6 )1"*80%(>D(1*"16#)1"*9(&$,(6"+&("#%0*0*).
/-##($ \E$ )(6$ eE$ 9#)+%$ *86<AO$ F#($ )(6
-*0#($ )+#$ #`4)889$ )77#./#6<$ b)/'#(/% (40:#+%$ *7$ F#+$ .#88%$ )+#$ )8%*$ %##( #(E<D>0@ES(A=G=D=HO(FDJD@C@E(B@A>DB=D(E<,DM
-'/"$ .*1#5'%/#(/$ )/*;'.$ 6#+0)/'/'%$ ")># )6M).#(/$ /*$ /"#$ 6#+0)8$ (#+>#$ ?:#+%$ )(6 ,EC=D@P=B(QO(>0=(>D(->D=(H@E<=0@K=B(
:##($7*4(6$/*$")>#$)($#)+8'#+$),#$*7$*(1 0)%/$ .#88%$ '($ ;+4+',*$ (*648)+'%<$ I/$ '% FH,fJ=A(@0(/<@E<(C<=(A?@0(@A(C<@E?=0=B(
%#/$K0#)(N$AB$9#)+%L$)%$.*0;)+#6$/*$/"# /"*4,"/$/")/$/"'%$.*0;8#5$0)9$0#6')/# ,0B(C<=D=(,D=(,EE=0CJ,C=B(A?@0(-,D?@01A.
(*(1)/*;'.$,+*4;$K0#)(N$cG$9#)+%L<Ac /"#$ ):(*+0)889$ "#',"/#(#6$ ;#+.#;/'*( 5>AC(E>-->0(A@C=A(>I(@0G>HG=-=0C(,D=(
*7$ /*4."$ )(6$ '/."$ '($ /"#%#$ ;)/'#(/%< AE,HFS(0,F=(>I(0=E?S(=]C=0A>D(,AF=ECA(>I(
T#+>#$,+*-/"$7)./*+$'%$*>#+#5;+#%%#6$'( =]CD=-@C@=AS(,0?H=AS(,0B(,0>1=0@C,H(,D=,.
&C@>H>1O(,0B($,C<>1=0=A@A ;+4+',*$(*648)+'%$8#%'*(%$)(6$'/$")%$:##(
$,C<>H>1O(E>0A@ACA(>I(<OF=D?=D,C>A@AS(
'0;8'.)/#6$ '($ /"#$ ;)/"*,#(#%'%$ *7$ /"#
W'."#($ %'0;8#5$ ."+*('.4%$ '%$ '(64.#6$ :9 <OF=D1D,0JH>A@AS(FA>D@,A@I>D-(=F@B=D-,H(
.")+)./#+'%/'.$ .4/)(#*4%$ (#4+)8$ "9;#+1
+4::'(,$)(6$%.+)/."'(,$%#.*(6)+9$/*$'/."< <OF=DFH,A@,S(,0B(C<@E?=0=B(F,F@HH,DO(B=DM
;8)%')$ %##(<\O$ T#+>#$ ,+*-/"$ 7)./*+$ '%
!"#$;+4+',*$(*648#$'%$'(64.#6$:9$;'.&'(, -,H(E>HH,1=0.
;+*64.#6$ )(6$ +#8#)%#6$ :9$ 0)%/$ .#88%2
)(6$ %.+)/."'(,$ 0*%/$.*00*(892$ :4/$ (*/
-"'."$)+#$'(.+#)%#6$'($(40:#+$)(6$%'H#
)8-)9%2$ '($+#%;*(%#$ /*$ '/."<$o)+'*4%$ 7).1
*($"'%/*8*,'.$%#./'*(%<$I/$4;+#,48)/#%$/"# $DJD@1>(8>BJH,D@A
/*+%$'(.'/#$'/."$'($:*/"$6'%*+6#+%2$)(6$(*/
#5;+#%%'*($ *7$ (#4+*;#;/'6#%2$ %4."$ )%
)88$)+#$-#88$4(6#+%/**6<$S$>)+'):8#$)%%*1 9=AED@Q=B(QO("OB=(@0()aNaZ(,HA>(?0>/0(
.)8.'/*('($,#(#Y+#8)/#6$;#;/'6#$)(6$%4:1
.')/'*($:#/-##($8'."#($%'0;8#5$."+*('.4% ,A ,+&63%"$8"6"*:+.
%/)(.#$ b<$ !"#%#$ )+#$ /"*4,"/$ /*$ 0#6')/#
)(6$ )/*;'.$ 6'%*+6#+%$ ")%$ :##($ +#;*+/#62
'(3)00)/'*($)(6$'/."<AC #(FDJD@C@E(B@A>DB=D(C<,C(DJ0A(,(E<D>0@E(
+)(,'(,$ 7+*0$ );;+*5'0)/#89$ \e$ ;#+.#(/
E>JDA=.
/*$ CD$ ;#+.#(/<AD2Ae$ @'0'8)+892$ )$ %4:%#/$ *7
;)/'#(/%$ -'/"$ ;+4+',*$ (*648)+'%$ ")%$ .*1 !H@0@E,H(4@0B@01A "OF=D?=D,C>C@ES(KD-(0>BJH=A(G,DO(@0(A@P=(
#5'%/#(/$ )/*;'.$ #.H#0)<$ n#+#2$ ;+4+',* ID>-(N.V(C>(W.N(E-(,0B(-,O(Q=(=]E>D@,C=B.
(*648#%$ *..4+$ '($ .*(.#+/$ -'/"$ %4:).4/# \0[SZ3] @#>#+#$'/."'(,$'%$/"#$")880)+&$*7 #AA>E@,C@>0A(@0EHJB=(,C>F@E(B=D-,C@C@A(>D(
;+4+',*2$ 8'."#('?.)/'*(2$ )(6$ 5#+*%'%< 8'."#($ %'0;8#5$ ."+*('.4%<$ I/."'(,$ 0)9 AOAC=-@E(E,JA=A(>I(FDJD@CJA.
g_#%('#+$ ;+4+',*h$ +#7#+%$ /*$ /"#$ ;+4+','1 :#$ ;)+*59%0)82$ .*(/'(4*4%2$ *+$ %;*+)6'.<
R4::'(,$)(6$%.+)/."'(,$0)9$:#$.*(%.'*4% $,C<>H>1O(E>0A@ACA(>I(<OF=D?=D,C>A@AS(
(*4%$ (*648#%$ %##($ '($ )/*;'.$ 6#+0)/'/'%< <OF=D1D,0JH>A@AS(,0B(FA>D@,A@I>D-(=F@B=DM
I($/"#$(*(1)/*;'.$(*648)+$;+4+',*$,+*4;2 )(6$/*$/"#$;*'(/$*7$+#;8).'(,$/"#$%#(%)/'*(
*7$'/."$-'/"$;)'(2$*+$0)9$:#$4(.*(%.'*4%2 -,H(<OF=DFH,A@,.(9=D-,H(E<,01=A(@0EHJB=(
%9%/#0'.$.)4%#%$*7$;+4+'/4%2$'(.846'(,$+#1 C<@E?=0=B(F,F@HH,DO(B=D-,H(E>HH,1=0(,0B(
()8$'(%47?.'#(.92$"9;#+1$*+$"9;*/"9+*'61 *..4++'(,$ 64+'(,$ %8##;<$ I/."$ %#>#+'/9$ '%
E<,D,EC=D@AC@E(0=JD,H(<OF=DFH,A@,.
'%02$ 8'>#+$ 7)'84+#2$ "40)($ '004(*6#?1 -*+%#$ -'/"$ %-#)/'(,2$ "#)/2$ *+$ '++'/)/'*(
.'#(.9$ >'+4%$ 6'%#)%#2$ ;)+)%'/'.$ '(7#./'*(2 7+*0$ .8*/"'(,<$ I/."'(,$ '%$ )8%*$ -*+%#$ '(
*+$)($4(6#+89'(,$0)8',()(.92$04%/$:#$#51 /'0#%$*7$;%9."*8*,'.)8$6'%/+#%%<Ae ();#$*7$/"#$(#.&$K#%;#.')889$'($-*0#(L2
.846#6<$n#;)/'/'%$_$)(6$=$")>#$:##($+#1 /"#$ )(&8#%2$ /"#$ #5/#(%*+$ )%;#./%$ *7$ /"#
;*+/#6$)%$ )%%*.')/'*(%$ -'/"*4/$8'>#+$7)'81 $2SCH4Z2[5N4[0ZH[ I($ 8'."#($ %'0;8#5 #5/+#0'/'#%2$)(6$/"#$)(*,#('/)8$+#,'*(<\c
4+#<AC$ b+4+',*$ (*648)+'%$ ")%$ )8%*$ :##( ."+*('.4%2$+#;#)/#6$+4::'(,$)(6$%.+)/."1 !"#$ 8):')$ 0)M*+)$ '($ -*0#($ )(6$ /"#
+#;*+/#6$/*$*..4+$'($/"#$%#//'(,$*7$.#8'). '(, ,'>#%$+'%#$/*$)$8'."#('?#6$K/"'.&#(#6 %.+*/40$'($0#($K[',<$AD1cL$)+#$/"#$0*%/
6'%#)%#$'($/"#$;+#%#(.#$*+$):%#(.#$*7$6#+1 %&'($ -'/"$ )..#(/4)/#6$ %&'($ 0)+&'(,%L2 .*00*($%'/#%$ *7$ ,#('/)8$ '(>*8>#0#(/<Ae
0)/'/'%$"#+;#/'7*+0'%<AG2AB %.)89$ ;8)`4#$ -'/"$ #5.*+')/'*(%<$ n9;#+1 !"#$ 4;;#+$ '((#+$ /"',"%$ 0)9$ )8%*$ :#
U(>'+*(0#(/)8$ 7)./*+%$ ")>#$ :##($ '01 )(6$ "9;*;',0#(/)/'*($ )+#$ %##($ -'/" )77#./#6<
;8'.)/#6$ '($ '(64.'(,$ '/."2$ %4."$ )%$ "#)/2 ."+*('.'/9<$ k%4)8892$ *(89$ *(#$ ;8)`4#$ '% b+4+',*$ (*648#%$ >)+9$ '($ %'H#$ 7+*0$ E<D
%-#)/2$ )(6$ '++'/)/'*($ )%%*.')/#6$ -'/" ;+#%#(/p$ "*-#>#+2$ 0*+#$ /")($ *(#$ %'/# /*$O<E$.0$)(6$)+#$?+0$/*$")+6$*($;)8;)1
)(*,#('/)8$ 8'."#($ %'0;8#5$ ."+*('.4%<Ae 0)9$ :#$ '(>*8>#6<$ !"#$ 0*%/$ .*00*( /'*(<$!"#$%4+7).#$0)9$:#$"9;#+&#+)/*/'.
!F8 !"#$ ;+#%#(.#$ *7$ #0*/'*()8$ *+$ ;%9."*1 %'/#%$ *7$ '(>*8>#0#(/$ )+#$ /"#$ %.)8;2$ /"# *+$ .+)/#+'7*+0<$ !"#+#$ '%$ *7/#($ *>#+89'(,
-'/"$;*%/1'(3)00)/*+9$"9;#+1$*+$"9;*1 #+,&'.)(
;',0#(/)/'*($-'/"$*+$-'/"*4/$%.)++'(,<
C'II#.#(-'G2)C'G3(%/'/)%I)@'+"#()
0'$,2#P)!".%('+J/
34NCS4E5P\][0$CN5/0HE0H1[ I($ ;)/'#(/%
-'/"$)/*;'.$#.H#0)2$/"#$'(/#+>#('(,$%&'($'% !"#$%&'()*+
*7/#($8'."#('?#6$)(6$5#+*/'.<$I($(*(1)/*;'. ;@E<=0@K=B(,C>F@E(=EP=-,
;)/'#(/%2$ .4/)(#*4%$ %',(%$ *7$ 4(6#+89'(, ;@E<=0@K=B(FA>D@,A@A
%9%/#0'.$ 6'%#)%#$ *+$ 890;")6#(*;)/"92 "OF=DCD>F<@E(H@E<=0(FH,0JA
%',('79'(,$890;"*0)2$0)9$:#$;+#%#(/< ,"-#'.)/
:=0@C,Hn(&]CD,-,--,DO($,1=C(B@A=,A=
;,Q>D,C>DO(%=ACA 0*12+#%34*)%54$
I($ ;)/'#(/%$ -'/"$ ;+4+',*$ (*648)+'%$ '( dJHG,S(F=D@,0,HHOn(20B=DHO@01(H@E<=0(
-"*0$)($ 4(6#+89'(,$ %9%/#0'.$.)4%#$ *7 AEH=D>AJAS("$dS(>D(C@0=,(EDJD@A(
;+4+'/4%$ '%$ %4%;#./#62$ )$ .*0;8#/#$ :8**6 +ED>CJ-n(20B=DHO@01("$d(>D(C@0=,(EDJD@A(
.*4(/$ -'/"$ 6'77#+#(/')8$ .*4(/2$ +#()82 "$d(i(<J-,0(F,F@HH>-,G@DJA.
8'>#+2$)(6$/"9+*'6$74(./'*($/#%/%$0)9$:#
*+6#+#6<$S$."#%/$51+)9$0)9$:#$*:/)'(#6
/*$%.+##($7*+$890;"*0)<$n40)($'0041 '(.+#)%#6$ )+*4%)8$ '(6#5$ K:+'#7$ )-)&#(1
(*6#?.'#(.9$ >'+4%$ /#%/'(,$ 0)9$ )8%*$ :# '(,%$7+*0$%8##;L$.)4%#6$:9$%.+)/."'(,<\D
'(6'.)/#6<$ !"#$ (##6$ 7*+$ )$ 0*+#$ #5/#(1
%'>#$ #>)84)/'*($ 0)9$ :#$ '(6'>'64)8'H#6 $D>10>A@A(,0B(!H@0@E,H(!>JDA=
/012345!B69 ;@E<=0( A@-FH=]( E<D>0@EJA( >I :)%#6$ *($ ;)/'#(/$ "'%/*+9$ )(6$ +#%48/%$ *7
C<=(AED>CJ-n(H@E<=0@KE,C@>0S(<OF=DM(,0B(<OF>F@1M /"#$)7*+#0#(/'*(#6$/#%/%< _*/"$6'%#)%#%$+4($)$."+*('.$.*4+%#$-'/"
-=0C,C@>0(/@C<(=]E>D@,C@>0.(T7-,1=(ID>-(9@G@A@>0 ;#+%'%/#(.#$*+$+#.4++#(.#$*7$8#%'*(%<$U51
>I(9=D-,C>H>1OS(20@G=DA@CO(>I(C<=(p@C/,C=DAD,0BS ).#+:)/'*(%$ 0)9$ *..4+$ '($ +#%;*(%#$ /*
l><,00=AQJD1S( +>JC<( #ID@E,S( /@C<( F=D-@AA@>0 +F=E@,H(%=ACA #0*/'*()8$%/+#%%<
ID>-($D>I=AA>D(9.(5>B@.U P($ "'%/*;)/"*8*,'.$ %#./'*(%2$ 8'."#($ %'01
;8#5$ ."+*('.4%$ %"*-%$ >)+9'(,$ 6#,+##%$ *7 %D=,C-=0C
#5.*+')/'*(<$ b+4+'/4%$ '%$ 4%4)889$ %#>#+#< "9;#+&#+)/*%'%$ -'/"$ ;)+)1$ )(6$ *+/"*&#+)1
W'0:%$ )+#$ )77#./#6$ '($ 0*%/$ .)%#%2$ #%;#1 /*%'%2$ "9;#+,+)(48*%'%2$ )(6$ ;%*+')%'7*+0 !+#)/0#(/$ '%$ )'0#6$ )/$ '(/#++4;/'(,$ /"#
.')889$ /"#$ #5/#(%*+$ )%;#./%$ K[',<$ AD1DL< #;'6#+0)8$ "9;#+;8)%')<$ !"#$ ;);'88)+9$ 6#+1 '/."1%.+)/."$ .9.8#<$ _*/"$ .*0;*(#(/%
!"#$):6*0#($)(6$%).+40$-#+#$/"#$(#5/ 0'%$ %"*-%$ /"'.&#('(,$ *7$ .*88),#($ -'/" %"*486$:#$)66+#%%#6<$@9%/#0'.$.)4%#%$*7
0*%/$ .*00*($ %'/#%$ *7$ '(>*8>#0#(/$ '( .*)+%#$ .*88),#($ :4(68#%$ )(6$ >#+/'.)8 '/."$%"*486$:#$'6#(/'?#6$)(6$)66+#%%#6<
*(#$%/469<\E$[).#$)(6$;)80%$)+#$+)+#89$'(1 %/+#)&%<$ !"#+#$ '%$ )$ >)+'):8#$ '(3)00)/*+9 I($:*/"$.*(6'/'*(%2$?+%/18'(#$0#)%4+#%$/*
>*8>#6p$"*-#>#+2$(*648#%$ 0)9$ *..4+$*( '(?8/+)/#$ )+*4(6$ /"#$ %4;#+?.')8$ >)%.48)+ .*(/+*8$ '/."$ '(.846#$ ;*/#(/$ /*;'.)8$ %/#+1
)(9$ %'/#$ /")/$ .)($ :#$ +#)."#6$ :9$ /"#$ ;)1 ;8#54%$-'/"$890;"*.9/#%2$"'%/'*.9/#%2$)(6 *'6%2$ :#%/$ 4(6#+$ *..84%'*(2$ )%$ -#88$ )%
/'#(/<$W#%'*(%$0)9$>)+9$'($(40:#+$7+*0 #*%'(*;"'8%<$ S$ :'*;%9$ 0)9$ )8%*$ +#>#)8$ ) (*(%/#+*'6)8$ )(/';+4+'/'.$ ;+#;)+)/'*(%
7#-$ /*$ 0*+#$ /")($ AEE<$ T*648#%$ +#%*8># ;+'0)+9$ ;+4+'/'.$ 6'%*+6#+$ /")/$ ")%$ 8#6$ /* %4."$)%$0#(/"*82$;"#(*82$*+$;+)0*5'(#<
%#.*(6)+9$8'."#('?.)/'*(2$%4."$)%$;%*+')%'%< U0*88'#(/%$)+#$)($'0;*+/)(/$)6M4(./<$I(1
!"#$ #;'6#+0)8$ ?(6'(,%$ '($ ;+4+',* /+)8#%'*()8$ %/#+*'6%2$ %4."$ )%$ /+')0.'(*1
(*648)+'%$ )+#$ %'0'8)+$ /*$ 8'."#($ %'0;8#5 8*(#$).#/*('6#2$,'>#($'($>)+9'(,$.*(.#(1
."+*('.4%<$ !"#$ 8#%'*($ '%$ 0*+#$ ;);48)+ /+)/'*(%$ )..*+6'(,$ /*$ /"#$ /"'.&(#%%$ *7
-'/"$ :48:*4%$ #;'6#+0)8$ "9;#+;8)%')< /"#$;8)`4#$*+$(*648#2$)+#$:#(#?.')8<$@#1
b);'88)+9$ 6#+0)8$ .")(,#%$ )8%*$ +#%#0:8# 6)/'(,$)(/'"'%/)0'(#%2$%4."$)%$"96+*591
8'."#($%'0;8#5$."+*('.4%<$!"#+#$'%$.4/)1 H'(#2$ *+$ /+'.9.8'.$ )(/'6#;+#%%)(/%2$ %4."
(#*4%$ (#4+)8$ "9;#+;8)%')$ -'/"$ /"'.&1 )%$ 6*5#;'(2$ 0)9$ :#$ 4%#6$ /*$ ):*8'%"
#(#6$ (#+>#$ :4(68#%$ )(6$ )($ '(.+#)%#$ '( (',"//'0#$'/."$'($:*/"$.*(6'/'*(%<$@#8#.1
(#+>#$ ?:#+%$ :9$ @1AEE$ %/)'('(,<$ !"'%$ '% /'>#$ %#+*/*('($ +#4;/)&#$ '("':'/*+%$ ")>#
(*/$ %##($ '($ */"#+$ ;+4+'/'.$ 6'%*+6#+%2$ '(1
.846'(,$8'."#($%'0;8#5$."+*('.4%<
#+,&'.)*
C'II#.#(-'G2)C'G3(%/'/)%I)<.J.'3%);%NJ2G.'/
9@II=D=0C@,H(9@,10>A@A !"#$%&'()*+
@## _*5#%$AD1\$)(6$AD1O< $=DI>D,C@01(B@A=,A=
"OF=DCD>F<@E(H@E<=0(FH,0JA
$=-F<@1>@B(0>BJH,D@A
!>-FH@E,C@>0A #EC@0@E(FDJD@1>
@8##;$ %/46'#%$ ")>#$ %"*-($ /")/$ 6'%/4+1 5JHC@FH=(?=D,C>,E,0C<>-,A
/012345!B6B $DJD@1>( 0>BJH,D@A.( T2A=B( /@C< :)(.#%$ '($ /"#$ %8##;$ .9.8#$ '($ ;)/'#(/% ,"-#'.)/
F=D-@AA@>0( ID>-( $D>I=AA>D( 9.( 5>B@S( 9@G@A@>0( >I -'/"$ 8'."#($ %'0;8#5$ ."+*('.4%$ )+# 8>BJH,D(AE,Q@=A
9=D-,C>H>1OS(20@G=DA@CO(>I(C<=(p@C/,C=DAD,0BS(l>M ;+#%#(/<$ T*(Y+);'6$ #9#$ 0*>#0#(/ 9=D-,C@C@A(<=DF=C@I>D-@A
<,00=AQJD1S(+>JC<(#ID@E,.U %8##;$'%$6'%/4+:#62$)(6$;)/'#(/%$")>#$)(
!F!
:##($+#.*00#(6#6$7*+$+#8'#7$*7$6)9/'0# /'#(/<$T)'8%$%"*486$:#$&#;/$%"*+/$)(6$*.1 Ac< !)()&)$ F$ #/$ )8N$ b+4+',*$ (*648)+'%$ .*(1
;+4+'/4%$ *+$ '($ ;)/'#(/%$ -'/"$ *:%#%%'>#1 .84%'>#$ 0#)%4+#%2$ %4."$ )%$ ;8)%/'.$ ?80%2 %'%/%$ *7$ /-*$ 6'%/'(./$ 7*+0%N$ U)+891*(%#/
)/*;'.$ )(6$ 8)/#1*(%#/$ (*(1)/*;'.<$ D$3!
.*0;48%'>#$6'%*+6#+<Ae /*;'.)8$ %/#+*'6$ /);#2$ *+$ k(()$ :**/%$ '( %05&1&42 $)'N\eB2$ABBD
=);%)'.'(2$ .)8.';*/+'#(#2$ /*;'.)8$ /).1 -'6#%;+#)6$.)%#%2$0)9$:#$(##6#6< Ae< W9(."$ bjN$ W'."#($ %'0;8#5$ ."+*('.4%
+*8'04%2$)(6$.+9*/"#+);92$-'/"$*+$-'/"1 K)/*;'.V(#4+*6#+0)/'/'%L$*7$/"#$)(*,#('1
*4/$'(/+)8#%'*()8$%/#+*'6$'(M#./'*(%2$")># /)8$+#,'*(<$D$3%05&1,J#$3 $&NG2$\EEc
)88$ :##($ %4..#%%74889$ 4%#6$ '($ ;+4+',* 6&j('&4&'&8!&+ AC< W##$FR2$@"40).&$@N$b+4+',*$(*648)+'%N
S$ +#>'#-<$ C-*53010*, @, D$3%05&1 #(N\AA2
(*648)+'%<$_*/"$:+*)61$)(6$()++*-:)(6 \EED
%<=(IJHH(D=I=D=0E=(H@AC(I>D(,HH(E<,FC=DA(
48/+)>'*8#/$ _2$ )%$ -#88$ )%$ /*;'.)8$ *+$ *+)8 \O< j*")(%%*($ P2$ W')(,$ ^2$ U0/#%/)0$ WN
;%*+)8#($ )(6$ 48/+)>'*8#/$ S$ 8',"/2$ %"*- @A(,G,@H,QH=(,C(///.B@1-X.E>-. I(.+#)%#6$ (#+>#$ ,+*-/"$ 7)./*+1$ )(6
/9+*%'(#$ &'()%#$ S18'&#$ '004(*+#)./'>'1
#7?.).9$)(6$)+#$'(6'.)/#6$'($-'6#%;+#)6 G< F**+#$ FF2$ U8;#+($ Zj2$ =)+/#+$ ZjN$ @#1 /'#%$ '($ ;+4+',*$ (*648)+'%$ %&'(lS(
.)%#%<$ !")8'6*0'6#$ )(6$ .9.8*%;*+'(# >#+#2$ ,#(#+)8'H#6$ (40048)+$ #.H#0) #5;8*+)/'*($*7$/"#$.)4%#$*7$(#4+*"9;#+1
")>#$ )8%*$ :##($ %"*-($ /*$ :#$ :#(#?.')8< %#.*(6)+9$ /*$ '(/#+7#+*($ )87)1\:$ ;84%$ +'1 ;8)%')< C3"#,D$3%05&1,;$* %)!NeAc2$\EE\
T)8/+#5*(#$ ")%$ %"*-($ #7?.).9$ '($ ) :)>'+'($ .*0:'()/'*($ /"#+);9$ '($ )$ ;)1 \D< f*.)$ R$ #/$ )8N$ @8##;$ 6'%/4+:)(.#$ '(
/'#(/$ -'/"$ ."+*('.$ "#;)/'/'%$ =$ >'+4% ;)/'#(/%$ -'/"$ 8'."#($ %'0;8#5$ ."+*('.4%
%0)88$%#+'#%<\e '(7#./'*(< C3"#,D$3%05&1 $#'N\AD2$\EEc )(6$ '/%$ +#8)/'*(%"';$ /*$ (*./4+()8
!"#$ '0;*+/)(.#$ *7$ )>*'6'(,$ %.+)/."1 AO< i)88#(,+#($jN$b+4+',*N$Z'),(*%'%$)(6$0)(1 %.+)/."'(,N$ S$ .)%#$ .*(/+*8$ %/469<$ P&-5#
'(,$ %"*486$ :#$ )66+#%%#6$ -'/"$ /"#$ ;)1 ),#0#(/< C%,@,+1(),D$3%05&1 "NGD2$\EEc A$8,@ ))NcG\2$\EEe
39.#.*'9&'HH+'$'#*+V
/+).*9+)K("99'+N&H9'["+)
\+).*9+)K("99'+N&#%&H9'["+) F9'["+)N&#%&/+).*9+)K("99'+
P;&,&+=<=*(+
C>I=&e5&RQA(,*b& "%;(+*>
,&AJ5A*'*=&@
"(+,*@&;5A(><=*(+
].#0+$)V
3+#-$'9&H'9?
9'-+$'9&')H+*-)
"%;(+*>
P('Q%(A?R5 0E5;&<>=*(+ \?Q&;)&;<=(=*>
b&,*>IA(WIAA(I,
/012345!F6! #FFD>,E<(C>(C<=(F,C@=0C(/@C<(G=A@EJH,D(F,H->FH,0C,D(=EP=-,.
%'&#%5&8%
!+#)/0#(/$'%$:#%/$6'+#./#6$/*-)+6$/"#$'(1
.'/'(,$ 6'%#)%#<$ !"#$ 7+#`4#(/89$ -##;'(,2
C O >#%'.48)+$ #+4;/'*($ *7$ )4/*%#(%'/'H)/'*(
/012345!#6! +C,A@A(B=D-,C@C@A(/@C<(,JC>A=0A@C@P,C@>0.(#0(=HB=DHO(/>-,0(/@C<(,(H>01MAC,0B@01(<@AC>DO :#(#?/%$7+*0$6+9'(,$),#(/%$%4."$)%$)840'1
>I(AC,A@A(B=D-,C@C@A(FD=A=0C=B(/@C<(1D,BJ,H(/>DA=0@01(>I(C<=(=B=-,Z(FDJD@CJAZ(,0B(-JHC@FH=S(FJ0EC,C=S(AJM (40$ %487)/#$ )(6$ .)8.'40$ ).#/)/#<$ a'>#(
/"#$ 8'Y$ '(>*8>#0#(/$ *7$ .9/*&'(#%$ )(6
F=DKE@,HS(=]E>D@,C=B(JHE=DA(>G=DHO@01(C<=(-=B@,H(-,HH=>H@(TCU.(8@0=(B,OA(,IC=D(C<=(JHE=DA(,FF=,D=BS(A<=(B=M
'(3)00)/*+9$ 0#6')/*+%$ %#(%'/'>#$ /*
G=H>F=B( ,0( ,EJC=S( =]CD=-=HO( FDJD@C@ES( =DOC<=-,C>JAS( F,FJH>G=A@EJH,D( =DJFC@>0( >G=D( C<=( I>D=,D-A( TOUS
,84.*.*+/'.*'6%\e$ *+$ 0).+*8)./)0%2\C$ %9%1
/<@E<(FD>1D=AA@G=HO(@0G>HG=B(C<=(JFF=D(,D-AS(JFF=D(C>DA>S(,0B(<,0BA.(%<=(,EJC=(F,FJH>G=A@EJH,D(B=D-,M /#0'.$)(6V*+$/*;'.)8$/+#)/0#(/$-'/"$/"#%#
C@C@A(,HA>(@0G>HG=B(C<=(H>/=D(=]CD=-@C@=A(,0B(E,0(Q=(0>C=B(>G=DHO@01(C<=(E<D>0@E(AC,A@A(B=D-,C@C@A(TCU. 6+4,%$0)9$:#$"#8;748<$!*$;+#>#(/$/"#$%#.1
*(6)+9$ #77#./%$ *7$ #5.*+')/'*(2$ ;+4+'/4%
0',"/$ ;#+");%$ :#$ #5;8)'(#6$ '7$ /"#$ %&'( -'/"$ /"#$ ."+*('.'/9$ K'<#<2$ >#%'.8#%$ /* 04%/$ :#$ .*(/+*88#6$ -'/"$ /*;'.)8$ )(/';+41
*>#+89'(,$ /"#$ )+0%$ )(6$ 8#,%$ -)%$ 7*4(6 %.)8#L<$ n'%/*;)/"*8*,'.)8892$ /"#$ ?(6'(,% +'/'.$ ),#(/%$ *+$ *+)8$ )(/'"'%/)0'(#%<$ n*-1
/*$ .*(/)'($ '(.+#)%#6$ (40:#+%$ *72$ *+ )+#$(*/$;)/"*,(*0*('.N$%;*(,'*/'.$#;'1 #>#+2$ *(#$ 04%/$ +#0)'($ )8#+/$ /*$ /"#$ ;*%%'1
0*+#$ )>'6$ +#.#;/*+%$ 7*+2$ >)+'*4%$ .9/*1 6#+0)8$>#%'.8#%$)%%*.')/#6$-'/"$)$%4;#+1 :'8'/9$ *7$ '(64.'(,$ )($ )88#+,9$ '($ #5'%/'(,
&'(#%$/")($/"#$%&'($*7$/"#$7).#$*+$")(6%< ?.')82$;#+'>)%.48)+$890;"*"'%/'*.9/'.$'(1 6#+0)/'/'.$%&'($-'/"$/*;'.)8$0#6'.)0#(/%<
@4."$)$,#*,+);"'.$>)+')/'*($'($/"#$6'%/+'1 ?8/+)/#$ *7$ /"#$ 6#+0'%2$ -"'."$ 0)9
:4/'*($ *7$ :488*4%$ ;#0;"',*'6$ )(/',#( .*(/)'($ %.)//#+#6$ #*%'(*;"'8%<\D$ I0041
6&j('&4&'&8!&+
")%$:##($*:%#+>#6$)(6$"9;*/"#%'H#6$/* (*;"#(*/9;'.$ %/46'#%$ *7$ %&'($ ")>#$ +#1
)..*4(/$ 7*+$ /"#$ .8'('.)8$ ;)//#+(%$ *7$ /"'% >#)8#6$/")/$0*%/$*7$/"#$890;"*.9/#%$'( %<=(IJHH(D=I=D=0E=(H@AC(I>D(,HH(E<,FC=DA(
)4/*'004(#$ 6'%#)%#<\c$ S;;8'.)/'*($ *7 /"#$ #;'6#+0'%$ )+#$ =ZOd$ )(6$ =ZGd$ !
0*6#+($ :'*/#."(*8*,'.)8$ /**8%$ %"*486 .#88%2$ -"#+#)%$ /"*%#$ '($ /"#$ 6#+0'%$ )+#
@A(,G,@H,QH=(,C(///.B@1-X.E>-.(
;+*>'6#$ '(%',"/$ '(/*$ /"#$ 09%/#+'#%$ *7 ;+'0)+'89$=Zcd<\\$I($/"#$0)M*+'/9$*7$'(1 A< b)+'%"$iU$#/$)8N$S$%/469$*7$)4/*1)88#+,9
)4/*%#(%'/'H)/'*(< 6'>'64)8%$-'/"$)4/*%#(%'/'H)/'*(2A$6#;*1 '($ ,#(#+)8'H#6$ #.H#0)<$ H3, @, D$3%05&1
%'/'*($*7$)(/':*69$*+$.*0;8#0#(/$'($)71 &&NcCB2$ABeD
\< n)5/")4%#($ nN$ a#(#+)8'H#6$ g'6%h
7#./#6$%&'($'%$(*/$6#/#./#6< Kg)4/*%#(%'/'H)/'*(hL$ '($ >)+'.*%#$ #.H#0)<
!;787!#;(478978:+
C"50,D$3%,K$)$3$&1,WP5&"'#X !"N\CA2$ABDD
!9;'.)8892$A$/*$\$-##&%$)7/#+$)($).4/#$'(1 AO< W'(($ j$ #/$ )8N$ R)6'*/"#+);91'(64.#6$ '6
3)00)/'*(2$)($#5/+#0#89$;+4+'/'.2$%901 9744&'&8%7#;(97#:83+7+ +#)./'*(< C%,@,+1(),Y)"&1 %*NAED2$\EED
0#/+'.2$ %.)//#+#62$ #+9/"#0)/*4%$ #+4;1 @## _*5$AC1A< AD< [#"+$_@$#/$)8N$!$.#88%$+#)./'>#$/*$&#+)/'1
(*.9/#$ )(/',#(%$ )+#$ ,#(#+)/#6$ 64+'(,
/'*($-'/"$0).48#%2$;);48#%2$)(6$>#%'.8#% '(64./'*($*7$.*(/)./$"9;#+%#(%'/'>'/9$'(
6#>#8*;%$ K[',<$ AC1AL<$ !"#$ #+4;/'*($ '(1 0'.#<$ S$ 0*6#8$ 7*+$ )4/*#.H#0)/'H)/'*(
>*8>#%$/"#$7*+#)+0%2$/"',"%2$8#,%2$/+4(&2 $'3:83+7+(#89( '($"40)(%v$C%,@,+&)50"5,D$3%05 $$NAcD2
7).#2$ ")(6%2$ (#.&2$ )(6$ 7##/$ '($ 6#%.#(61 !;787!#;(!32'+& \EEE
\E< i'88')0%$ IR2$ f4;;#+$ !@N$ I004('/9$ )/
'(,$ *+6#+$ *7$ 7+#`4#(.9<\2AE$ Z4+'(,$ /"# !"#$+)%"$*7/#($;#+%'%/%$)(6$%;+#)6%$4(/'8 /"#$ %4+7).#N$ n*0#*%/)/'.$ 0#.")('%0%
#>*84/'*($*7$/"#$6#+0)/'/'%2$'/%$0*+;"*81 /"#$4(6#+89'(,$.)4%)/'>#$;+'0)+9$%'/#$*7 *7$ /"#$ %&'($ '004(#$ %9%/#0<$ V(/$, P"(
*,9$0)9$.")(,#$'($)$0)((#+$.*(%'%/#(/ '(3)00)/'*($'%$/+#)/#6< "*NAcGD2$ABBe
!F-
6(,2%3,+' ;%#-<+6%-&,1' %66()#,#:%-1' &)4
!"#$%&'()* *&"-(,&$' &;)#$6&,%2%+"1' &)4' &' 3##$,L' ()= $F=':#F:F
4+$"2##4' $+,&2%#)"<%3' 2#' )+$*#("' "L"2+6
!""""""""#!!"""""""$!!"""""""%!!""""""&!!"""""'!!!"""""'#!!""""'$!!"""""'%!!"""""'&!!"""""#!!!""""##!!"""""#$!!"""""#%!!"""""#&!!""""(!!!"""""(#!!""""($!!")*
2<=>?@A<?< 9<B@A<?<
?++4@A4:(%@47BCD'E!>
'+&!""""'&!!"""""'&#!"""""'&$!""""'&%!"""""'&&!"""""',!!""""',#!"""""',$!""""',%!"""""',&!"""""#!!!""""#!#!"""""#!$!"""""#!%! """#!&!""""#'!!"""""#'#!")*
F F G F F G F F 493 G
-./01 -./02 -23#+ 456' 2748 -23##
G
4::;"'
&2+4' 0%2<' 2<+' &K%&,' *&$%&)2' B"++' T<&3. &)4' ,&2+' -#$)%U+4' +)*+,#3+' :+)+".M8 -+,,' %)U,2$&2+.MP' J%6%,&$' U)4%):"' <&*+
8DE. '' ><+' !J_cJM' ,#-("' BPRC8E' 0&"' #$%:%= ;++)' 4+"-$%;+4' %)' +&$,L' 6&-(,+"' &)4
/SN=T0H' $+6&%)"' "2$#):,L' &""#-%= )&,,L' ,%)A+4' 2#' 3"#$%&"%"' %)' J0+4%"< 3&3(,+"' #5' 3"#$%&"%"MQ' &)4' %)' -,%)%-&,,L
&2+4' 0%2<' 3"#$%&"%"' 0<+)' 5#()4' 2#= 5&6%,%+"QHi'2<+' +*%4+)-+' 5#$' $+3,%-&2%#) )#$6&,=&33+&$%):' "A%)' C' 2#' Q' -6' &0&L
:+2<+$' 0%2<' "+*+$&,' 4%55+$+)2' /SN=\' &,= %"' ;&"+4' #)' 20#' &""#-%&2%#)' "2(4= 5$#6'&)L'&-2%*+',+"%#)'%)'3&2%+)2"'()4+$=
,+,+"1CZ'"(::+"2%):'2<&2'2<+'!J_cJ8':+)+ %+".QH1QZ' ><+' !J_cJ9' ,#-("' #*+$,&3" :#%):' &)' &-(2+' W&$+' #5' :(22&2+' 3"#$%&=
6("2' $+"%4+' 2+,#6+$%-' 2#' /SN=\' BF%:. 0%2<' &' A)#0)' "("-+32%;%,%2L' :+)+' 5#$ "%".MM'><+"+'U)4%):"'&$+'"(::+"2%*+'#5'&
89=8E. ' T$#<)' 4%"+&"+' Bg_@ChTNc@8ME' &)4 [3$+=3"#$%&2%-'"2&2+1^'0<%-<'-#(,4';+'$+=
_),L' &;#(2' 87' 3+$-+)2' #5' /SN=T0H <&"';++)'%63,%-&2+4'%)'3"#$%&2%-'&$2<$%= ,&2+4'2#'()4+$,L%):':+)+2%-'5&-2#$".
-&$$%+$"' 4+*+,#3' 3"#$%&"%"1' &)4' %2' <&" 2%".Q9'><+'!J_cJD',#-("'0&"'#$%:%)&,,L
;++)' +"2%6&2+4' 2<&2' !J_cJ8' &--#()2" %4+)2%U+4'%)'&'T<%)+"+'3#3(,&2%#)1';(2 -).)&+/#"0'()*#+", J2(4%+"' #5' 2<+' -,%)%-&,
5#$' #),L' #)+=2<%$4' 2#' #)+=<&,5' #5' 2<+ &,"#' 3$#*%4+4' "#6+' +*%4+)-+' 5#$' ,%)A= 6&$:%)"' #5' "#6+0<&2' ,&$:+$' ,+"%#)"' B7.M
*&$%&2%#)' %)' :+)+2%-' ,%&;%,%2L' 2#' 3"#$%&= &:+'%)'5#($'#2<+$':+)#6+=0%4+',%)A&:+ 2#' 8.7' -6E' $+*+&,' &)' &33$#K%6&2+,L' M7
"%".PC' ><+$+5#$+1' %2' %"' <%:<,L' ,%A+,L' 2<&2 "-&)"' %)*#,*%):' ,&$:+,L' T&(-&"%&) 3+$-+)2'%)-$+&"+'%)'+3%4+$6&,'2<%-A+)%):
&44%2%#)&,' )#)=d/T' :+)+"' &$+' &,"#' %)= 3#3(,&2%#)".M7 %)' 2<+' [)#$6&,=&33+&$%):^' "A%)' %66+4%=
*#,*+4.' G)' &44%2%#)' 2#' !J_cJ81' ,%)A&:+ &2+,L' &4b&-+)2' 2#' ,+"%#)".MP' ><+$+' %"' &
"2(4%+"'<&*+'%4+)2%U+4'89'3#2+)2%&,'"("= ,&$:+'%)-$+&"+'%)' 2<+'6+2&;#,%-' &-2%*%2L
$.D-,B7/75G5(,C($5,9G.5G5
-+32%;%,%2L' ,#-%.8H1PP' /#0+*+$1' 6&)L' #5 #5' +3%4+$6&,' -+,,"1' %)-,(4%):' 2<+' "2$&=
2<+"+' <&*+' 3$#*+)' 4%5U-(,2' 2#' $+3,%-&2+. ,-.-/0$1-234054/-67026 @+2&%,+4',%:<21 2(6' -#$)+(61' %)-$+&"+4' @gN' "L)2<+=
N52+$' !J_cJ81' 2<+' "+-#)4=6#"2' $+3,%= +,+-2$#)'6%-$#"-#3%-1'%66()#<%"2#-<+6= "%"1' &)' %)-$+&"+4' )(6;+$' #5' 6&"2' -+,,"
-&2+4' 3"#$%&"%"' "("-+32%;%,%2L' ,#-("' %" %-&,1' &)4' 6#,+-(,&$' "2(4%+"' #5' %)*#,*+4 &)4' 4+$6&,' 6&-$#3<&:+"1' &)4' %)=
!J_cJC' B8ZRCQ=RCME1PQ' 0%2<' 5#($' %)4+= &)4' ()%)*#,*+4' "A%)' #5' ;#2<' )+0,L' &3= -$+&"+4' 6&"2' -+,,' 4+:$&)(,&2%#).MP1MH1MZ
3+)4+)2'"2(4%+"'3$#*%4%):'-#)U$6&2#$L 3+&$%):'&)4'+"2&;,%"<+4'3"#$%&2%-',+"%#)" J(;"+R(+)2' "2(4%+"' $+*+&,+4' %)-$+&"+4
+*%4+)-+' B3' f' 7.78E' %)' "(33#$2' #5' 2<+ 3$#*%4+' &' ("+5(,' 5$&6+0#$A' 5#$' -&("+= )(6;+$"'#5'4+$6&,'>'-+,,"M9'&)4'4+)4$%2%-
#$%:%)&,'$+3#$2.PM`P9'G2'<&"';++)'$+3#$2+4 &)4=+55+-2' $+,&2%#)"<%3"' ;+20++)' 2<+ -+,,"' B@T"EMD' %)' ;#2<' ()%)*#,*+4' &)4' %)=
$+-+)2,L' 2<&2' 2<%"' ,#-("' -#)2$%;(2+"' 2# 6&)L'-+,,(,&$'+*+)2"'2<&2'2&A+'3,&-+'%)'& *#,*+4' 3"#$%&2%-' "A%)' $+,&2%*+' 2#' )#$6&,
3"#$%&"%"';L'%)W(+)-%):'2<+'+K3$+""%#)'#5 3"#$%&2%-' ,+"%#).' ><+L' &$+' %,,("2$&2+4 "A%).' >#0&$4' 2<+' -+)2+$' #5' 2<+' ,+"%#)1' &
2<+' JSTDNPc81' gN>81' &)4h#$' cN!>_c "-<+6&2%-&,,L' %)' F%:.' 89=C' &)4' 0%2<' &-= [6&$:%)&,' X#)+^' -&)' ;+' %4+)2%U+41' 0%2<
:+)+"' %)*#,*+4' %)' %66()#,#:%-' $+:(,&= 2(&,'3<#2#6%-$#:$&3<"'%)'F%:.'89=P. %)-$+&"%):';&)4=,%A+'+3%4+$6&,'2<%-A)+""1
2%#)1PD' ;(2' #2<+$"' <&*+' ;++)' ()&;,+' 2# %)-$+&"%):' 3&$&A+$&2#"%"' &)4' -&3%,,&$L
-#)U$6' 2<+"+' U)4%):".Q71Q8 ' ' _2<+$ !"#$#%&'()*#+", G)'2<+'%)%2%&,'3%)<+&4="%X+4 +,#):&2%#)1'&)4'3+$%*&"-(,&$'%)U,2$&2%#)'#5
,#-%'"<#0%):'+*%4+)-+'#5'$+3$#4(-%;%,%2L 6&-(,&$',+"%#)"'2<+$+'%"'6&$A+4'+4+6&1 ,L63<#-L2+"' &)4' 6&-$#3<&:+"1' 0%2<#(2
%)-,(4+' !J_cJQ' B8RC8.PE1QC`QQ' !J_cJM &)4' 6#)#)(-,+&$' -+,,' %)U,2$&2+"' &$+ +K(4&2%#)'%)2#'2<+'+3%4+$6%".'d#$+'-+)=
BPRC8E1QM`QZ' !J_cJ9' B8HR8C=R8PE1Q9' &)4 5#()4'%)'2<+'(33+$'4+$6%".MC'><+"+'U)4= 2$&,,L1'$+2+'$%4:+"';+:%)'2#'4+*+,#3'%)'2<+
!J_cJD'BQRC9=RP8E.QD1M7'!J_cJQ'$+"%4+" %):"' &$+' ("(&,,L' -#)U)+4' 2#' 2<+' &$+&' #5 6&$:%)&,' X#)+1' ;+5#$+' U)&,,L' 2$&)"%2%#)=
%)' 2<+' +3%4+$6&,' 4%55+$+)2%&2%#)' -#6= #)+'#$'20#'3&3%,,&+.'><+'#*+$,L%):'+3%= %):' %)2#' 2<+' 5(,,L' 4+*+,#3+4' 3"#$%&2%-
3,+K1' 2<+' ,#-&2%#)' #5' &2 ,+&"2' M9' :+)+" 4+$6%"' "##)' ;+-#6+"' "3#):%#2%-1' 0%2< 3,&R(+.'JR(&6#("'-+,,"'6&)%5+"2'+),&$:+4
%)*#,*+4' %)' +3%4+$6&,' 4%55+$+)2%&2%#)1 5#-&,' ,#""' #5' 2<+' :$&)(,&$' ,&L+$.' ><+ +K2$&-+,,(,&$'"3&-+"'0%2<'#),L'&'5+0'4+"=
%)-,(4%):'2<+',#$%-$%)1'%)*#,(-$%)1'U,&:= *+)(,+"' %)' 2<+' (33+$' 4+$6%"' 4%,&2+' &)4 6#"#6&,' -#))+-2%#)".' !&$&A+$&2#"%"' %"
:$%)1' "6&,,' 3$#,%)+' $%-<' $+:%#)1' J8771 ;+-#6+' "($$#()4+4' ;L' &' 6#)#)(-,+&$ 2L3%-&,,L'6#()4+4'#$'"3#22L.
!*+
,&$%+"' B2<+' ["R(%$2%):' 3&3%,,&+^E1' ,+&4%):
2#' 2<+%$' &--(6(,&2%#)' %)' 2<+' #*+$,L%):
3&$&A+$&2#2%-'"2$&2(6'-#$)+(6'Bd()$#j"
6%-$#&;"-+""+"E' &)41' ,+""' 5$+R(+)2,L1' %)
5789:-4!;<I ;7@78,L67/D( ,C( L5,9G.DGA( 875G,/50 2<+' "3%)#("' ,&L+$' B"3#):%5#$6' 3("2(,+"
%-G5(YB297(37LGAD5(D-7(D9./5GDG,/(C9,6(/,96.8(5VG/(D, #5'k#:#bE.'T#,,+-2%#)"'#5'"+$(6'-&)'&,"#
C288N( 37@78,L73( 875G,/( 375A9GS73( G/( D-7( D7MD0( E,96.8 ;+' "++)' %)' 2<+' +3%4+$6%"' &)4' 2<+' "2$&=
5VG/(C9,6(.(-7.8D-N(G/3G@G32.8(Z!"#$%&'[(A,/D.G/5(7LGI 2(6'-#$)+(6.MP1MQ
3796.8( >./B79-./5( A7885T( 5A.DD7973( G66.D297( 37/I
39GDGA(A7885(Z;[T(./3(5VG/I-,6G/B(676,9N(%(A7885(Z%[(G/ "-//9/H:4$H:37"7$H2364724$60:7H676 4
D-7( 3796G50( E,96.8I.LL7.9G/B( 5VG/( C9,6( .( L5,9G.DGA 5)&&*6789:896, G)' 8D9Q1' %2' 0&"' 4+6#)=
"2$&2+4' 2<&2' 2<+' +$(32%#)' #5' 3"#$%&2%-
G/3G@G32.8(Z!"#$%&( [(6./GC75D5(58GB-D(A.LG88.9N(3G8.D.I
"A%)' ,+"%#)"' -#%)-%4+4' 0%2<' +3%4+$6&,
DG,/(./3(A29@.D297T(./3(.(58GB-D(G/A97.57(G/(D-7(/26I
%)W(K' &)4' &-2%*&2%#)' #5' >' -+,,"1M9' &)4
S795(,C(3796.8(6,/,/2A87.9(A7885(./3(6.5D(A7885(Z<[0 "<#$2,L' 2<+$+&52+$' %2' 0&"' 5($2<+$' "<#0)
#( 58GB-D( G/A97.57( G/( 7LG3796.8( D-GAV/755( G5( 252.88N 2<&2' $+"#,(2%#)' #5' 3"#$%&"%"' 4($%):' 3<#=
L9757/D0(:/(A-9,/GA(L8.U27(L5,9G.5G5T(D-7(G/D7/5GDN(,C 2#2<+$&3L'0&"'3$+-+4+4';L'4+3,+2%#)'#5
D-757(A-./B75(6.N(37L7/3(,/(3G5D./A7(C9,6(./(75I >'-+,,"1'3$+4#6%)&)2,L'5$#6'2<+'+3%4+$=
D.S8G5-73(875G,/0(%-7(D9./5GDG,/(X,/7(,C(.(37@78,LG/B 6%".HQ'T"N'0&"'<%:<,L'+55+-2%*+'%)'3"#$%=
875G,/( Z!"#$%& ) [( G5( A-.9.AD79GX73( SN( L9,B9755G@7( G/I &"%"1HM1HH' &)4' 2<%"' +55+-2' 0&"' 4+6#)=
A97.575(G/(A.LG88.9N(3G8.D.DG,/(./3(D,9D2,5GDNT(/26S795 "2$&2+4'2#';+'3$%6&$%,L'2<$#(:<';,#-A&4+
,C( 6.5D( A7885T( 6.A9,L-.B75( Z<$[T( ./3(%( A7885T( ./3 #5' >' -+,,"' $&2<+$' 2<&)' A+$&2%)#-L2+".HZ
6.5D(A788(37B9./28.DG,/(Z"**+,-$"./[0(:/(D-7(7LG379I F($2<+$6#$+1' 3"#$%&"%"' <&"' ;++)' 2$%:=
:+$+4' #$' -($+4' ;L' ;#)+' 6&$$#0' 2$&)"=
6G5T( D-797( G5( G/A97.5G/B( D-GAV/755( JGD-( G/A97.5G/B8N
3,&)2&2%#)1' 4+3+)4%):' #)' 0<+2<+$' 2<+
L9,6G/7/D( 97D7( L7B5T( JG37/G/B( ,C( D-7( 7MD9.A78828.9
4#)#$'#$'2<+'<#"2'0&"'3"#$%&2%-.H91HD'><+
5L.A75T( D9./5G7/D( 3N5V79.D,5G5T( 5L,DDN( 8,55( ,C( D-7 $#,+'#5'>'-+,,"'%)'3"#$%&"%"'0&"'5()-2%#)=
B9./28.9( 8.N79T( ./3( L.9.V79.D,5G50( >./B79-./5( A7885 &,,L' 4+6#)"2$&2+4'%)'8DDH'0<+)'%2'0&"
Z>[(S7BG/(D,(7MGD(D-7(7LG3796G5T(./3(G/_.66.D,9N(37/I "<#0)' 2<&2' 2<+' 3"#$%&"%"' 3$#-+""' -#(,4
39GDGA(7LG3796.8(A7885(Z:[(./3(!;*`(%(A7885(Z*[(S7BG/(D, ;+'%)4(-+4';L'%)b+-2%):'&-2%*&2+4'&(2#,=
7/D79(D-7(7LG3796G50(%-7(C288N(37@78,L73(875G,/(Z!"#$% #:#("' >' -+,,"' %)2#' ()%)*#,*+4' 3"#$%&2%-
0[(G5(A-.9.AD79GX73(SN(C288N(37@78,L73(A.LG88.9N(3G8.D.I "A%)'2$&)"3,&)2+4'#)2#'"+*+$+'-#6;%)+4
DG,/( ./3( D,9D2,5GDN( JGD-( .( )QIC,83( G/A97.57( G/( S8,,3 %66()#4+U-%+)2'6%-+.Z7
_,JT( /2679,25( 6.A9,L-.B75( 2/3798NG/B( D-7( S.57I ><+';+"2=-<&$&-2+$%X+4'>'-+,,"'&$+'2<+
67/D(676S9./7T(./3(G/A97.573(/26S795(,C(3796.8(% T@Ql'&)4'T@9l'"(;"+2".'!$+4#6%)&)2,L
#5'2<+'6+6#$L' 3<+)#2L3+'BT@QMc_lE1
A7885( Z6.G/8N( !;a`[( 6.VG/B( A,/D.AD( JGD-( 6.D29G/B
2<+"+' -+,,"' +K3$+""' 2<+' -(2&)+#("' ,L6=
3796.8(37/39GDGA(A7885(Z;[0(%-7(7LG3796G5(,C(D-7(6.I
3<#-L2+' &)2%:+)' BTSNE1' &' ,%:&)4' 5#$' ?=
D297( 875G,/( 6./GC75D5( 6.9V738N( G/A97.573( Z.LL9,MGI "+,+-2%)1' 0<%-<' %"' "+,+-2%*+,L' +K3$+""+4
6.D78N( )QIC,83[( V79.DG/,AND7( -NL79L9,8GC79.DG,/( 7MI #)' "A%)' -&3%,,&$%+"' &)4' 2<+$+5#$+' 3$#=
D7/3G/B( D,( D-7( 8,J79( 52L9.S.5.8( 8.N795T( 6.9V73( S2D *%4+"' 2<+6' 0%2<' &--+""' 2#' 2<+' "A%).ZM
/,D(/7A755.9G8N(2/GC,96(8,55(,C(D-7(B9./28.9(8.N79(JGD- T@9l'>'-+,,"'&$+'3$+4#6%)&)2,L',#-&2+4
,@798NG/B( A,6L.ADG,/( ,C( D-7( 5D9.D26( A,9/726( ./3 %)'2<+'+3%4+$6%"1'0<+$+&"'T@Ql'>'-+,,"
L.9.V79.D,5G5T( G/A97.573( /26S795( ,C( !;*`( %( A7885T &$+' 3$+4#6%)&)2,L' ,#-&2+4' %)' 2<+' (33+$
./3(.AA2628.DG,/(,C(/72D9,L-G85(G/(D-7(5D9.D26(A,9I 4+$6%".ZH1ZZ'><+'-L2#A%)+'3$#U,+'#5'3"#=
/726(Z<2/9,b5(6GA9,.S5A75575[0 $%&2%-' ,+"%#)"' %"' $%-<' %)' %)2+$5+$#)' BGFgE=
1Z9'%)4%-&2%*+'#5'>'<+,3+$'8'B><8E'3#,&$=
1%$23)'()*#+", d&2($+',+"%#)"'#5'3"#$%&= -,(;;+4' #$' 5("+4' 0%2<' &4b&-+)2' #)+"1 %X&2%#)'#5'T@Ql'-+,,"1'&)4'>'-L2#2#K%-'8
"%"'&$+'-<&$&-2+$%X+4';L'()%5#$6'+,#):&= 0%2<' 2<%)1' +,#):&2+41' +4+6&2#("' 3&3%,= B>-8E'3#,&$%X&2%#)'#5'T@9l'-+,,".ZD'/#0=
2%#)'#5'$+2+'$%4:+"1'0%2<'2<%))%):'#5'2<+ ,&+'-#)2&%)%):'4%,&2+41'2#$2(#("'-&3%,,&$= +*+$1' &' )#*+,' "(;"+2' #5' T@Ql' >' -+,,"1
+3%4+$6%"' #*+$,L%):' 2<+' 4+$6&,' 3&3%,= %+".' !&$&A+$&2#"%"1' 0%2<' &--#63&)L%): "2%6(,&2+4' ;L' %)2+$,+(A%)' BGSE=CP' &)4
,&+.MP1MQ' ?3%4+$6&,' 6&""' %"' %)-$+&"+4 ,#""' #5' 2<+' :$&)(,&$' ,&L+$1' %"' #52+)' <#$%= -<&$&-2+$%X+4' ;L' GS=8Z' 3$#4(-2%#)1' 0&"
2<$++'2#'U*+' 2%6+"1'&)4'2<+$+'&$+' 6&)L X#)2&,,L' -#)W(+)2' ;(2' 6&L' &,2+$)&2+ $+-+)2,L'4+"-$%;+4'&)4'6&L'3,&L'&)'%6=
6#$+' 6%2#"+"' #;"+$*+4' 5$+R(+)2,L 0%2<'#$2<#A+$&2#"%"1H8'&)4'<L3+$A+$&2#= 3#$2&)2' $#,+' %)' 6&%)2&%)%):' -<$#)%-' %)=
&;#*+'2<+';&"&,',&L+$.'N;#(2'87'3+$-+)2 "%"'%"'6#$+'+K2+)"%*+'2<&)'%)'2<+'2$&)"%= W&66&2%#)'%)'3"#$%&"%"'&)4'#2<+$'&(2#=
#5';&"&,'A+$&2%)#-L2+"'&$+'-L-,%):'%)')#$= 2%#)&,'X#)+.'><+'%)W&66&2#$L'%)U,2$&2+ %)W&66&2#$L'-#)4%2%#)".97`9C
6&,'"A%)1'0<+$+&"'2<%"'*&,(+'$%"+"'2#'877 &$#()4'2<+';,##4'*+""+,"'%)'2<+'3&3%,,&$L
3+$-+)2'%)',+"%#)&,'3"#$%&2%-'"A%).H7'O%4= 4+$6%"' ;+-#6+"' 6#$+' %)2+)"+' ;(2' "2%,, ;)02&%$+3<'4'5)&&*, J+*+$&,' 4%55+$+)2' 3#3=
+)%):' #5' 2<+' +K2$&-+,,(,&$' "3&-+"' ;+= -#)"%"2"' #5' ,L63<#-L2+"1' 6&-$#3<&:+"1 (,&2%#)"'#5'$+:(,&2#$L'>'-+,,"'B>$+:"E'+K%"2
20++)' A+$&2%)#-L2+"' 3+$"%"2"' ;(2' %"' ,+"" @T"1' &)4' 6&"2' -+,,".' I),%A+' 2<+' %)%2%&, ;(2' 2<+' ;+"2' -<&$&-2+$%X+4' #)+' %"' 2<+
3$#6%)+)2' 2<&)' %)' 4+*+,#3%):' ,+"%#)" ,+"%#)' &)4' 2<+' 2$&)"%2%#)&,' X#)+1' ,L6= T@QlT@CMl' "(;"+2.9P' N' $+-+)2'"2(4L' #5
&)4' %"' 6#$+' ()%5#$6' 2<&)' 2<+' 2L3%-&, 3<#-L2+"'&$+'#;"+$*+4'%)'2<+'+3%4+$6%" 2<%"'"(;"+2'%)'3"#$%&"%"'4+6#)"2$&2+4'%6=
"3#):%#"%"' #5' +-X+6&2#("' "A%)' ,+"%#)". #5' 2<+' 6&2($+' ,+"%#).' g+(2$#3<%,"' +K%2 3&%$+4' %)<%;%2#$L' 5()-2%#)' &)4' 5&%,($+' 2#
><+' 2%3"' #5' 2<+' $+2+' $%4:+"' &$+' #52+) 5$#6'2<+'2%3"'#5'&'"(;"+2'#5'4+$6&,'-&3%,= "(33$+""'+55+-2#$'>=-+,,'3$#,%5+$&2%#).9Q
!*!
H )%-&2%#)'0%2<'@T"1'0<%-<'<&*+'&'$#,+'%)
;#2<' 2<+' 3$%6%):' #5' &4&32%*+' %66()+
$+"3#)"+"' &)4' 2<+' %)4(-2%#)' #5' "+,5=
2#,+$&)-+DM' B"++' T<&3.' 87E.' J+*+$&,' "(;=
"+2"' #5' @T"' <&*+' ;++)' 4+U)+41' &)4
6&)L' #5' 2<+"+' &$+' 5#()4' %)' &' 6&2($+
"2&2+' 0%2<%)' 3"#$%&2%-' ,+"%#)"DH1DZ' B"++
F%:.' 89=CE.' N,2<#(:<' 2<+"+' -+,,"' &$+' ;+=
,%+*+4'2#';+'-+)2$&,'2#'2<+'3&2<#:+)+"%"
K #5' 3"#$%&"%"1' 2<+' "3+-%U-' $#,+' #5' +&-<
"(;"+2'%"'"2%,,'()-,+&$.
4>?<H027$I A72"DJ??KF=L
4>?<H"27&I =<@J=>FL<=G
H 6D>X<>(V(CDW 6P%C!(BDW
2?@GG0H?<G<=>J>F@=
"""""""@O"J=>FL<=G
926 -./02Q%0/L
/D>FNJ>F@="J=P"
""""H?@BFO<?J>F@="@O"
"A<A@?K"9"D<BBG" 2K>@)F=<G
""""F="P<?AFG GM*B<>EJB"F=RM?K"STU
27&"90D<BB /L
4)F="BKAHE"=@P<G
""""""JD>FNJ>F@="J=P"H?@BFO<?J>F@="
7<?AJB"*B@@P" """@O"=JFN<"9"D<BBG"
27& 2 2 N<GG<BG """"""""F="BKAHE"=@P<G
90D<BB
?<D<H>@? .KAHEJ>FDG"
V V
/=>FL<=
# '
-./02Q%
( #A
5BJGAJ
;<?J>F=@DK><"@? A<A*?J=<
K P<=P?F>FD"D<BB
5789:-4!;<O HJ($9,L,573(6,378(C,9(D9./5GDG,/(C9,6(B2DD.D7(D,(A-9,/GA(L8.U27(L5,9G.5G50(:D(G5(7/@G5.B73(D-.D(12*$!2+3+334/I5L7AGYA(%(A7885(6GB9.D7(C9,6(D-7(D,/I
5G85(G/D,(D-7(5VG/(J-797(D-7(%(A7885(97A,B/GX7(A9,55I97.ADG@7(./DGB7/5(379G@73(C9,6(V79.DG/,AND75(JGD-(97528DG/B(G/_.66.D,9N(.ADG@GDN(ZB2DD.D7(875G,/5[0(:C(7CC7ADG@7
A9,55IL9757/D.DG,/(3,75(/,D(,AA29T(D-7(3G57.57(L9,A755(G5(578CI8G6GD730(:C(7CC7ADG@7(A9,55IL9757/D.DG,/(G5(75D.S8G5-73(G/(57A,/3.9N(5VG/(8N6L-,G3(DG5527T(B7/79.DG,/
./3(97A92GD67/D(,C(.2D,I97.ADG@7(%(A7885(,AA295T(JGD-(97528DG/B(A-9,/GAGDN(,C(D-7(L9,A7550(KJ($9,L,573(9,87(,C(">#I!J\(G/(D-7(L.D-,B7/75G5(,C(L5,9G.5G50(%-7(./DGB7/
G/(D-7(SG/3G/B(L,AV7D(,C(">#I!(ZG/(D-G5(A.57(">#I!J\[(G/D79.AD5(JGD-(.(%IA788(97A7LD,9(Z%!'[0(%-7(97BG,/(,C(D-7(%!'(D-.D(G/D79.AD5(3G97AD8N(JGD-(D-7(./DGB7/(G5(D-7(A,6I
L8767/DI37D796G/G/B(97BG,/(R(Z!;'R[0(=8GB,A8,/.8GDN(,C(D-7(!;'R(97BG,/(-.5(S77/(376,/5D9.D73(C,9(L5,9G.DGA(!;*`(%(A7885T(5D9,/B8N(52BB75DG/B(D-.D(L5,9G.5G5(G5(./
./DGB7/I39G@7/(L9,A7550(%-7(9,87(,C(">#I!J\(G/(L5,9G.5G5(G5(8GV78N(D,(S7(DJ,IC,830(">#I!J\(G5(.ADG@7(G/(A9,55IL9757/DG/B(L7LDG375(,/(D-7(529C.A7(,C(37/39GDGA(A7885T(.8I
8,JG/B(.ADG@.DG,/(./3(A8,/.8(7ML./5G,/(,C(./DGB7/I5L7AGYA(!;*`(%(A78850(%-G5(L9,A755(G5(37L7/37/D(,/(!;a`(%IA788(-78L(./3(G5(8GV78N(D,(-.LL7/(S,D-(G/(D-7(3796G5(Z.AI
DG@.DG,/(,C(676,9N(975G37/D(%(A7885[(./3(8,A.8(8N6L-(/,375(Z.ADG@.DG,/(,C(/.G@7(%(A7885[0(F2S57U27/D8NT(D-7(!;*`(%(A7885(.97(.S87(D,(6GB9.D7(G/D,(D-7(7LG3796G5(J-797
D-7N(7/A,2/D79(">#I!J\(,/(D-7(529C.A7(,C(D-7(V79.DG/,AND75(L9757/DG/B(D-,57(5.67(L.D-,B7/GA(L7LDG3750(%-G5(87.35(D,(9787.57(,C(G/_.66.D,9N(673G.D,95(SN(D-7
!;*`(%(A7885(./3(.ADG@.DG,/(,C(D-7(V79.DG/,AND75T(JGD-(D-7(97528DG/B(37@78,L67/D(,C(L5,9G.DGA(875G,/50(6;!(c(6.D297(37/39GDGA(A78850
!*O
7FJL=@GFG =>(B(S!> `<J>M?<G"GMHH@?>F=L"J"
=@>"@*NF@MG (VQ'D%%(&B PFJL=@GFG"@O"HG@?FJGFGa
W"GKAA<>?K"@O"B<GF@=G
W"<Z><=G@?"PFG>?F*M>F@=
8@>"HG@?FJGFG W"/MGHF>_"GFL=
1F@HGK W"GEJ?HBK"P<AJ?DJ><P"B<GF@=G
G<<"77Z
W"GFBN<?K"GDJB<
$%&'(!%(%
5789:-4!;<" ;G.B/,5G5(./3(D97.D67/D(.8B,9GD-6(C,9(L5,9G.5G50(%-7(3G.B/,5G5(,C(L5,9G.5G5(G5(252.88N(S.573(,/(A8G/GA.8(C7.D29750(:/(D-,57(C7J(A.575(G/(J-GA-(A8G/I
GA.8(-G5D,9N(./3(7M.6G/.DG,/(G5(/,D(3G.B/,5DGAT(SG,L5N(G5(G/3GA.D73(D,(75D.S8G5-(D-7(A,997AD(3G.B/,5G50(%-7(6.4,9GDN(,C(L5,9G.5G5(A.575(C.88(G/D,(D-977(6.4,9(A.D7B,9G75P
B2DD.D7T(79ND-9,3796GAiL25D28.9T(./3(A-9,/GA(L8.U27T(,C(J-GA-(D-7(8.DD79(G5(SN(C.9(D-7(6,5D(A,66,/0(12DD.D7(L5,9G.5G5(G5(,CD7/(.(578CI8G6GD73(3G57.57(JGD-(5L,/D./7,25
975,82DG,/(JGD-G/(\(D,()O(J77V50(:/(6G83(A.575(,C(B2DD.D7(L5,9G.5G5T(D97.D67/D(6.N(/,D(S7(/77373T(S2DT(JGD-(JG375L97.3(3G57.57T(28D9.@G,87D(j(Zfkj[(L-,D,D-79.LN(G/
.55,AG.DG,/(JGD-(D,LGA.8(D-79.LN(G5(@79N(7CC7ADG@70(&9ND-9,3796GAiL25D28.9(L5,9G.5G5(G5(,CD7/(.55,AG.D73(JGD-(5N5D76GA(5N6LD,65(./3(/7A755GD.D75(D97.D67/D(JGD-(C.5DI
.ADG/B(5N5D76GA(673GA.DG,/50(%-7(6,5D(A,66,/8N(2573(392B(C,9(79ND-9,3796GA(./3(L25D28.9(L5,9G.5G5(G5(.AGD97DG/0(:/(,AA.5G,/.8(A.575(,C(L25D28.9(L5,9G.5G5T(5N5D76GA
5D79,G35(6.N(S7(G/3GA.D73(Z]][0(0+22$.&"**+,/(G/3GA.D7(D-.D(B2DD.D7T(79ND-9,3796GAT(./3(L25D28.9(C,965(,CD7/(7@,8@7(G/D,(A-9,/GA(L8.U27(L5,9G.5G50(%-79.L72DGA(A-,GA75
C,9(A-9,/GA(L8.U27(L5,9G.5G5(.97(DNLGA.88N(S.573(,/(D-7(7MD7/D(,C(D-7(3G57.570(#6,/B(D-7(6.G/(D97.D67/D(97BG67/5(ZD,LGA.8(D97.D67/DT(L-,D,D-79.LNT(3.N(D97.D67/D
A7/D795T(./3(5N5D76GA(D97.D67/D5[T(Y95DI8G/7(./3(57A,/3I8G/7(6,3.8GDG75(.97(G/3GA.D73(SN(D-7(/+%5.(./3(."/-$.&%5#$/T(975L7ADG@78N0(:/3G@G32.85(JGD-(A,/3GDG,/5(D-.D(8G6GD
D-7G9(.ADG@GDG75T(G/A823G/B(L.G/C28(L.86,L8./D.9(G/@,8@767/D(./3(L5,9G.DGA(.9D-9GDG5T(6.N(97U2G97(6,97(L,D7/D(D97.D67/D5(G9975L7ADG@7(,C(D-7(7MD7/D(,C(.CC7AD73(S,3N(529I
C.A7(.97.0(>GV7JG57T(L5NA-,8,BGA.8(G55275(./3(D-7(G6L.AD(,/(U2.8GDN(,C(8GC7(5-,283(S7(D.V7/(G/D,(A,/5G379.DG,/0(HGD-G/(7.A-(D97.D67/D(97BG67/T(Y95DI8G/7(./3(57A,/3I
8G/7(A-,GA75(.97(B9,2L730(!NA8,5L,9G/(#(G5(/,D(A,/5G37973(.(Y95DI8G/7T(8,/BID796(5N5D76GA(D97.D67/D(327(D,(GD5(5G37(7CC7AD5T(S2D(5-,9DID796(D97.D67/D(A./(S7(-78LC28
C,9(G/32ADG,/(,C(976G55G,/0(:C(L.DG7/D5(-.@7(G/A,6L87D7(975L,/57(D,(,9(.97(2/.S87(D,(D,879.D7(G/3G@G32.8(Y95DI8G/7(5N5D76GA(673GA.DG,/5T(A,6SG/.DG,/(97BG67/5(Z%.S87
)*IW[T(9,D.DG,/.8(D97.D67/D5T(,9(257(,C(SG,8,BGA(D-79.LG75(5-,283(S7(A,/5G379730(jjIfkj(c(S9,.3S./3(fkjP(jF#(c(S,3N(529C.A7(.97.P(;;M(c(3GCC797/DG.8(3G.B/,5G5P
d#&(c(C26.9GA(.AG3(75D79P(EjIfkj(c(/.99,JS./3(fkjP($fk#(c(L5,9.87/(./3(fk#(8GB-DP(DM(c(D-79.LN0
!*"
H K "
, - 5
5789:-4!;<* HY5J(!-9,/GA(L8.U27(L5,9G.5G5(8,A.D73(.D(DNLGA.8(5GD750(E,D7(6.9V73(5N667D9N(,C(875G,/50(Z$-,D,5(2573(JGD-(L796G55G,/(C9,6(<90(".99,83(!.9D790[
"<#0"' "(44+)' #(2;$+&A' #5' ,+"%#)" 2#' 3,&R(+"' 2<&2' -#*+$' ,&$:+' &$+&"' #5' 2<+ )#2' "3+-%U-' 5#$' 3"#$%&"%"' ;(2' -&)' ;+
0%2<%)'&'"<#$2'2%6+'B4&L"E.'S%A+0%"+1'3&= ;#4L.' I)4+$' 2<+' "-&,+1' 2<+' "A%)' <&"' & <+,35(,' %)' 6&A%):' 2<+' 4%&:)#"%"' 0<+)
2%+)2"'<&*+':$+&2'*&$%&;%,%2L'%)'$+:&$4'2# :,#""L' <#6#:+)+#("' +$L2<+6&1' &)4 3$+"+)2.
$+,&3"+".' J#6+' 3&2%+)2"' <&*+' 5$+R(+)2 ;,++4%):' 3#%)2"' &33+&$' 0<+)' 2<+' "-&,+' %"
$+,&3"+"' #--($$%):' 0++A,L' #$' 6#)2<,L1 $+6#*+41'2$&(6&2%X%):'2<+'4%,&2+4'-&3%,,&$=
0<+$+&"' #2<+$"' <&*+' 6#$+' "2&;,+' 4%"= %+"';+,#0'B2<+'N("3%2X'"%:)E'BF%:.'89=9E.C7M
+&"+' 0%2<' #),L' #--&"%#)&,' $+-($$+)-+. !"#$%&"%"'2+)4"'2#';+'&'"L66+2$%-'+$(3=
><+' 5$+R(+)2,L' $+,&3"%):' 3&2%+)2"' 2+)4 2%#)1'&)4' "L66+2$L'%"'&' <+,35(,' 5+&2($+
2#' 4+*+,#3' 6#$+' "+*+$+' 4%"+&"+' 0%2< %)'+"2&;,%"<%):'&'4%&:)#"%".'I)%,&2+$&,'%)=
$&3%4,L'+),&$:%):',+"%#)"'-#*+$%):'"%:)%5= *#,*+6+)2' -&)' #--($1' <#0+*+$.' ><+
%-&)2'3#$2%#)"'#5'2<+';#4L'"($5&-+C7Q'&)4 3"#$%&2%-' 3<+)#2L3+' 6&L' 3$+"+)2' &
6&L' $+R(%$+' 6#$+' $%:#$#("' 2$+&26+)2 -<&):%):' "3+-2$(6' #5' 4%"+&"+' +K3$+"=
-#63&$+4'2#'2<#"+'0%2<'6#$+'"2&;,+'4%"= "%#)'+*+)'0%2<%)'2<+'"&6+'3&2%+)2.
+&"+.' T+$2&%)' 6+4%-&2%#)"' 6&L' 0#$"+) k#+;)+$'3<+)#6+)#)'B&,"#'A)#0)'&"
3"#$%&"%"'B"++'>$+&26+)2E.'><+'3<L"%-%&) 2<+ %"#3#$!5%)' $*"!#1"*E' %"' 2<+' 2$&(6&2%-
"<#(,4' &,"#' %)R(%$+' &;#(2' b#%)2' -#6= %)4(-2%#)' #5' 3"#$%&"%"' #)' )#),+"%#)&,
3,&%)2".' N,2<#(:<' #"2+#&$2<$%2%"' %"' +K= "A%)i' %2' #--($"' 6#$+' 5$+R(+)2,L' 4($%):
2$+6+,L'-#66#)'&)4'-&)'-#=+K%"2'0%2< W&$+"' #5' 4%"+&"+' &)4' %"' &)' &,,=#$=)#)+
3"#$%&"%"1' &' <%"2#$L' #5' #)"+2' #5' b#%)2 3<+)#6+)#)' B%.+.1' %5' 3"#$%&"%"' #--($"' &2
"L632#6"' ;+5#$+' 2<+' 5#($2<' 4+-&4+ #)+'"%2+'#5'%)b($L'%2'0%,,'#--($'&2'&,,'"%2+"
&)4h#$'&'<%"2#$L'#5'0&$61'"0#,,+)'b#%)2" #5'%)b($LE'BF%:.'89=DE.'><+'k#+;)+$'$+&-=
"<#(,4' $&%"+' 2<+' "("3%-%#)' #5' 3"#$%&2%- 2%#)'("(&,,L'#--($"'Z'2#'8Q'4&L"'&52+$'%)=
&$2<$%2%"'B"++'T<&3.'8DE. b($L1' &)4' &33$#K%6&2+,L' CM' 3+$-+)2' #5
3&2%+)2"'6&L' <&*+'&'<%"2#$L' #5' 2$&(6&=
$+,&2+4' k#+;)+$' 3<+)#6+)#)' &2' "#6+
!2D./7,25(>75G,/5OQW
3#%)2' %)' 2<+%$' ,%*+".C7H' ?"2%6&2+"' #5' ,%5+=
><+'-,&""%-',+"%#)'#5'3"#$%&"%"'%"'&'0+,,= 2%6+' 3$+*&,+)-+' $%"+' &"' <%:<' &"' ZH' 3+$= 5789:-4!;<; #25LGDX( 5GB/0( E,D7( L,G/D( ,C
4+6&$-&2+41' $&%"+41' $+4' 3,&R(+' 0%2<' & -+)2' 0<+)' 5&-2#$"' "(-<' &"' %)5+-2%#)1 S8773G/B( .CD79( 5A.87( G5( 976,@730( Z$-,D,5( 2573
0<%2+' "-&,L' "($5&-+' BF%:.' 89=ZE.' S+"%#)" +6#2%#)&,'"2$+""1'&)4'4$(:'$+&-2%#)"'&$+ JGD-(L796G55G,/(C9,6(;90(+,-.//(1234,/55,/(./3
-&)' *&$L' %)' "%X+' 5$#6' 3%)3#%)2' 3&3(,+" %)-,(4+4.P'><+'k#+;)+$'3<+)#6+)#)'%" <50(>.29.(k./B,,90[ !**
!8G/GA.8($.DD79/5(,C( "%"'B"++'F%:.'89=87E. 6(!%#%7'!"#$%&"%"'$+5+$"
2#' ,+"%#)"' %)' 2<+'"<&3+' #5' &' -#)+' #$' ,%6=
FVG/($9757/D.DG,/OQW 3+2. 8"+$&)*#("' !"#$%&"%"1' &)' %)5$+R(+)2,L
$60:7H6764 .9/8H:76Z4 "[:027"4 63H3702< ("+4'2+$61'$+5+$"'2#'&'$%):=,%A+1'<L3+$A+$=
H:N4 $60:7H676Z4 $/H\9-<3N$-4 $60:7H676 &2#2%-'-#)-&*+',+"%#)1'$+"+6;,%):'&)'#L"=
!"#$%&"%"' *(,:&$%"' %"' 2<+' 6#"2' -#66#) 2+$' "<+,,.' F%)&,,L1' +,+3<&)2%)+' 3"#$%&"%"' %"
5#$6' #5' 3"#$%&"%"1' "++)' %)' &33$#K%6&2+,L &)' ()-#66#)' 5#$6' -<&$&-2+$%X+4' ;L
D7' 3+$-+)2' #5' 3&2%+)2".' c+41' "-&,L1' "L6= 2<%-A,L' "-&,%):1' ,&$:+' 3,&R(+"1' ("(&,,L' #)
H 6+2$%-&,,L'4%"2$%;(2+4'3,&R(+"'&$+'-<&$&-= 2<+',#0+$'+K2$+6%2%+".'N'<L3#3%:6+)2+4
2+$%"2%-&,,L' ,#-&,%X+4' 2#' 2<+' +K2+)"#$' &"= $%):'BO#$#)#55'$%):E'"($$#()4%):'%)4%*%4=
3+-2"' #5' 2<+' +K2$+6%2%+"1' 3&$2%-(,&$,L' 2<+ (&,'3"#$%&2%-',+"%#)"'6&L'#--&"%#)&,,L';+
+,;#0"' &)4' A)++"1' &,#):' 0%2<' "-&,31 "++)'&)4'%"'("(&,,L'&""#-%&2+4'0%2<'2$+&2=
,#0+$' ,(6;#"&-$&,1' ;(22#-A"1' &)4' :+)%2&, 6+)21' 6#"2' -#66#),L' Ia' $&4%&2%#)' #$
%)*#,*+6+)2'B"++'F%:.'89=ZE.'_2<+$'"%2+"'#5 2#3%-&,' -#$2%-#"2+$#%4"' B"++' F%:.' 89=87E.
3$+4%,+-2%#)' %)-,(4+' 2<+' (6;%,%-("' &)4 ><+'3&2<#:+)+"%"'%"')#2'0+,,'()4+$"2##4
2<+' %)2+$:,(2+&,' -,+52.' ><+' +K2+)2' #5' %)= ;(2'6&L'$+"(,2'5$#6'%)<%;%2%#)'#5'3$#"2&=
*#,*+6+)2'*&$%+"' 0%4+,L'5$#6'3&2%+)2'2# :,&)4%)'"L)2<+"%".C7Z
3&2%+)2.' ><+$+' %"' -#)"2&)2' 3$#4(-2%#)' #5
,&$:+' &6#()2"' #5' "-&,+' 0%2<' ,%22,+' &,2+$= 8933H3-4]-:9$37.-^4$60:7H676 Y(22&2+
&2%#)' %)' "<&3+'#$' 4%"2$%;(2%#)' #5' %)4%*%4= 3"#$%&"%"'B5$#6'2<+'S&2%)'0(++&1'6+&)%):
(&,'3,&R(+".'J%):,+'"6&,,',+"%#)"'6&L';+= [&'4$#3^E'%"'-<&$&-2+$%X+4';L'+$(32%#)'#5
-#6+' -#)W(+)21' 5#$6%):' 3,&R(+"' %) "6&,,'B7.M'2#'8.M'-6'%)'4%&6+2+$E'3&3(,+"
0<%-<' 2<+' ;#$4+$"' $+"+6;,+' &' ,&)4' 6&3 #*+$'2<+'(33+$'2$()A'&)4'3$#K%6&,'+K=
B3"#$%&"%"' :+#:$&3<%-&E.' S+"%#)"' 6&L' +K= 2$+6%2%+"'BF%:.'89=88E.'G2'2L3%-&,,L'6&)%=
2+)4' ,&2+$&,,L' &)4' ;+-#6+' -%$-%)&2+' ;+= 5+"2"'&2'&)'+&$,L'&:+'&)4'&"'"(-<'%"'5#()4
-&("+'#5'2<+'-#)W(+)-+'#5'"+*+$&,'3,&R(+" 5$+R(+)2,L'%)'L#():'&4(,2".'><%"'5#$6'#5
B3"#$%&"%"' :L$&2&E.' _--&"%#)&,,L1' 2<+$+' %" 3"#$%&"%"'<&"'2<+'"2$#):+"2'&""#-%&2%#)'2#
K 3&$2%&,' -+)2$&,' -,+&$%):1' $+"(,2%):' %)' $%):= /SN=T0H1 CC '&)4'"2$+32#-#--&,'2<$#&2
,%A+',+"%#)"'B&))(,&$'3"#$%&"%"E'BF%:.'89=87E. %)5+-2%#)'5$+R(+)2,L'3$+-+4+"'#$'%"'-#)=
5789:-4!;<# h,7S/79(L-7/,67/,/0(HJ($5,9GI ><%"' %"' ("(&,,L' &""#-%&2+4' 0%2<' ,+"%#)&, -#6%2&)2'0%2<'2<+'#)"+2'#$'W&$+'#5':(2=
.5G5(.LL7.9G/B(G/(V79.D,67(SG,L5N(5GD75(a(J77V5(.CD79 -,+&$%):' &)4' 3#$2+)4"' &' :##4' 3$#:)#"%". 2&2+'3"#$%&"%". C79 '/#0+*+$1'&)2%;%#2%-
SG,L5N0(Z$-,D,(2573(JGD-(L796G55G,/(C9,6(<90(".99,83 _2<+$'-,%)%-&,'*&$%&)2"'#5'3,&R(+'3"#$%&"%" 2$+&26+)2'<&"')#2';++)'"<#0)'2#';+
!.9D790[(KJ(d8.97(,C(L5,9G.5G5(,/(D-7(S.AV(.CD79(.(52/I <&*+' ;++)' 4+"-$%;+41' 4+3+)4%):' #)' 2<+ ;+)+U-%&,' #$'2#'"<#$2+)' 2<+'4%"+&"+
S29/0( E,D7( 5L.9G/B( ,C( 52/IL9,D7AD73( .97.50( Z$-,D, 6#$3<#,#:L' #5' 2<+' ,+"%#)"1' 3&$2%-(,&$,L -#($"+. C7D '!&2%+)2"'0%2<'&'<%"2#$L'#5
2573(JGD-(L796G55G,/(C9,6(;90(+.675('.562557/0[ 2<#"+'&""#-%&2+4'0%2<':$#""'<L3+$A+$&2#= -<$#)%-'3,&R(+'3"#$%&"%"'6&L'4+*+,#3
H K
" ,
5789:-4!;<!+ f/252.8(C,965(,C(L8.U27IDNL7(L5,9G.5G5(HJ(#//28.9(L5,9G.5G5(,/(D-7(_./V0(KJ('2LG,G3(L5,9G.5G5(G/(./(G/C./D0(E,D7(A,/7I5-.L73(875G,/50
"J($5,9G.DGA(L.DG7/D(2/379B,G/B(6,3GY73(1,7AV796./(D-79.LN(Z28D9.@G,87D(j(8GB-DT(A,.8(D.9T(./3(D,LGA.8(5D79,G3[T(376,/5D9.DG/B(H,9,/,CC(9G/B50(,J(&87L-./DG/7(L5,9G.5G5(,C(D-7
!*; 8,J79(7MD976GDG750(E,D7(L5,9G.DGA(G/@,8@767/D(,C(D,7/.G850(Z$-,D,B9.L-5(2573(JGD-(L796G55G,/(C9,6(;90(+,-.//(1234,/55,/T(<90(".99,83(!.9D79T(./3(<50(>.29.(k./B,,90[
72.-:6-4$60:7H676 !"#$%&"%"' ,+"%#)"' 6&L
;+',#-&,%X+4'%)'2<+'6&b#$'"A%)'5#,4"1'"(-<
&"' 2<+' &K%,,&+1' 2<+' :+)%2#=-$($&,' $+:%#)1
&)4'2<+')+-A.'J-&,%):'%"'("(&,,L'6%)%6&,
#$'&;"+)21'&)4'2<+',+"%#)"'"<#0'&':,#""L
"<&$3,L' 4+6&$-&2+4' +$L2<+6&1' 0<%-<' %"
#52+)' ,#-&,%X+4' 2#' &$+&"' #5' "A%)=2#="A%)
-#)2&-2'BF%:.'89=8CE.'J0+&2%):'%"'%63&%$+4
%)'&55+-2+4'&$+&".C88
H K
5789:-4!;<!I :/@7957(L5,9G.5G50(E,D7(D-7(J788I376.9A.D73T(S77CNI973T(5-G/N(L8.U275(G/(H0(%-7(L.DG7/D(G/(K(-.5(.D9,L-N(./3(L29L29.(,C(D-7(2LL79(G//79
.96T(57A,/3.9N(D,(A-9,/GA(D,LGA.8(A,9DGA,5D79,G3(D97.D67/D0(Z$-,D,5(2573(JGD-(L796G55G,/(C9,6(<90(".99,83(!.9D790[ !*#
2L3+E1' &))(,&$' 3("2(,&$' 3"#$%&"%"1' %63+= 3"#$%&"%".'G2'("(&,,L'3$+"+)2"'%)'&)'&))(,&$
2%:#'<+$3+2%5#$6%"1'&)4'20#'*&$%&)2"'#5',#= #$'-%$-%)&2+'5#$6.'S+"%#)"'6&L'&33+&$'&2
-&,%X+4'3("2(,&$'3"#$%&"%"r3("2(,#"%"'3&,= 2<+'#)"+2'#5'3("2(,&$'3"#$%&"%"1'0%2<'&'2+)=
6&$%"' +2' 3,&)2&$%"' &)4' &-$#4+$6&2%2%" 4+)-L'2#'"3$+&4'&)4'5#$6'+),&$:+4'$%):"1
-#)2%)(&.' G)' -<%,4$+)1' 3("2(,&$' 3"#$%&"%" #$'2<+L'6&L'4+*+,#3'4($%):'2<+'-#($"+'#5
-&)';+'-#63,%-&2+4';L'"2+$%,+1',L2%-',+"%#)" :+)+$&,%X+4' 3("2(,&$' 3"#$%&"%".' ><+' -<&$=
#5';#)+"C8Q1C8M'&)4'-&)';+'&'6&)%5+"2&2%#) &-2+$%"2%-' 5+&2($+"' &$+' 3("2(,+"' #)' &' $%):=
#5'2<+'JN!/_'"L)4$#6+'B"L)#*%2%"1'&-)+1 ,%A+' +$L2<+6&' 2<&2' "#6+2%6+"' $+"+6;,+"
3("2(,#"%"1'<L3+$#"2#"%"1'#"2+%2%"E.C8H +$L2<+6&' &))(,&$+' -+)2$%5(:(6.' G4+)2%=
-&,',+"%#)"'&$+'5#()4'%)'3&2%+)2"'0%2<'%6=
G)")3%&#M)?' J2*$2&%3' J*+3#%*#*' N.+"' O2EC 3+2%:#'<+$3+2%5#$6%"1'&)'+)2%2L'4+U)+4';L
K2*@AP, Y+)+$&,%X+4' 3("2(,&$' 3"#$%&"%" "#6+'&"'&'*&$%&)2'#5'3("2(,&$'3"#$%&"%"'#-=
H B*#)'p(6;("-<E'%"'&'4%"2%)-2%*+'&-(2+'*&$%= -($$%):' %)' 3$+:)&)-L.CC8' _)"+2' %)' 3$+:=
&)2' #5' 3"#$%&"%".' G2' %"' ("(&,,L' 3$+-+4+4' ;L )&)-L'%"'("(&,,L'+&$,L'%)'2<+'2<%$4'2$%6+"=
#2<+$' 5#$6"' #5' 2<+' 4%"+&"+.' N22&-A"' &$+ 2+$' &)4' 3+$"%"2"' ()2%,' 4+,%*+$L.CCC' G2' 2+)4"
-<&$&-2+$%X+4' ;L' 5+*+$' 2<&2' ,&"2"' "+*+$&, 2#'4+*+,#3'+&$,%+$'%)'"(;"+R(+)2'3$+:)&)=
4&L"'&)4'&'"(44+)':+)+$&,%X+4'+$(32%#)'#5 -%+".'G63+2%:#'<+$3+2%5#$6%"'%"'#52+)'&""#=
"2+$%,+'3("2(,+"'C'2#'P'66'%)'4%&6+2+$'BF%:. -%&2+4'0%2<'<L3#-&,-+6%&.C8Z1CCP'><+$+'%"
89=8QE.'><+'3("2(,+"'&$+'4%""+6%)&2+4'#*+$ ("(&,,L' )#' 3+$"#)&,' #$' 5&6%,L' <%"2#$L' #5
2<+' 2$()A' &)4' +K2$+6%2%+"1' %)-,(4%):' 2<+ 3"#$%&"%".CCQ
)&%,' ;+4"1' 3&,6"1' &)4' "#,+".' ><+' 3("2(,+"
("(&,,L'&$%"+'#)'<%:<,L'+$L2<+6&2#("'"A%)1 (+@%&#M)?'J2*$2&%3'J*+3#%*#*'S%3#%"$*, S#=
U$"2' &"' 3&2-<+"' BF%:.' 89=8ME' &)4' 2<+)' ;+= -&,%X+4'3("2(,&$'3"#$%&"%"'*&$%&)2"1'%)-,(4=
-#6%):' -#)W(+)2' &"' 2<+' 4%"+&"+' ;+-#6+" %):'3("2(,#"%"'3&,6&$%"'+2'3,&)2&$%"'&)4
6#$+' "+*+$+.' O%2<' 3$#,#):+4' 4%"+&"+1' 2<+ &-$#4+$6&2%2%"'-#)2%)(&'B#5'/&,,#3+&(E1
U):+$2%3"'6&L';+-#6+'&2$#3<%-.'><+'+$L= &$+'4%"-(""+4'%)'T<&3.'C8.
2<+6&' 2<&2' "($$#()4"' 2<+' 3("2(,+"' #52+)
"3$+&4"'&)4';+-#6+"'-#)W(+)21',+&4%):'2# 6-K0$60:7H676 N' -#66#)' -,%)%-&,' +)=
+$L2<$#4+$6&.' T<&$&-2+$%"2%-&,,L1' 2<+' 4%"= 2%2L1'"+;#3"#$%&"%"'3$+"+)2"'0%2<'+$L2<+6=
+&"+' #--($"' %)' 0&*+"' #5' 5+*+$"' &)4' 3("= &2#("'3,&R(+"'0%2<':$+&"L'"-&,+"',#-&,%X+4
2(,+".'><+'+2%#,#:L'#5':+)+$&,%X+4'3"#$%&"%" 2#' "+;#$$<+%-'&$+&"'B"-&,31' :,&;+,,&1')&"#=
*#)'p(6;("-<'2L3+'%"'()A)#0).'a&$%#(" ,&;%&,'5#,4"1'3+$%#$&,'&)4'3$+"2+$)&,'&$+&"1
3$#*#A%):'&:+)2"'%)-,(4+'%)5+-2%#)"1'%$$%2&2= &)4' %)2+$2$%:%)#("' &$+&"E.' G)' 2<+' &;"+)-+
%):' 2#3%-&,' 2$+&26+)2' Bk#+;)+$' 3<+)#6+= #5'2L3%-&,'U)4%):"'#5'3"#$%&"%"'+,"+0<+$+1
)#)E1' &)4' 0%2<4$&0&,' #5' #$&,' -#$2%-#"2+$= 4%"2%)-2%#)' 5$#6' "+;#$$<+%-' 4+$6&2%2%"' %"
#%4".C8Z' ><%"' 5#$6' #5' 3"#$%&"%"' %"' ("(&,,L 4%5U-(,2.' J+;#3"#$%&"%"' 6&L' $+3$+"+)2' &
&""#-%&2+4' 0%2<'3$#6%)+)2' "L"2+6%-' "%:)" 6#4%U-&2%#)' #5' "+;#$$<+%-' 4+$6&2%2%"' ;L
&)4' -&)' 3#2+)2%&,,L' <&*+' ,%5+=2<$+&2+)%): 2<+':+)+2%-';&-A:$#()4'#5'3"#$%&"%"'&)4'%"
K -#63,%-&2%#)"'"(-<'&"';&-2+$%&,'"(3+$%)5+-= $+,&2%*+,L' $+"%"2&)2' 2#' 2$+&26+)2.' N,=
2%#)1' "+3"%"1' &)4' 4+<L4$&2%#).C89' J+*+$+ 2<#(:<' &)' +2%#,#:%-' $#,+' #5' 9%+.$#"!#$(3
5789:-4!;<!? &9ND-9,3796GA( L5,9G.5G50( %-7 3("2(,&$'3"#$%&"%"'-&)';+'4%5U-(,2'2#'-#)2$#, $+6&%)"'()3$#*+)1'&)2%5():&,'&:+)2"'6&L
L.DG7/D(G/(H(-.3(A-9,/GA(L8.U27(L5,9G.5G5(D-.D(L9,I &)4' $+R(%$+"' &' 3#2+)2' 2$+&26+)2' $+:%= ;+'("+5(,.CCM
B975573(D,(/7.9IA,6L87D7(G/@,8@767/D0(%-7(L.DG7/D 6+) 0%2<'$&3%4'#)"+2'#5'&-2%#)'2#'&*#%4
G/ K(9.LG38N(37@78,L73(/7.9IA,6L87D7(G/@,8@767/D ,%5+=2<$+&2+)%):'-#63,%-&2%#)".'@$(:"'-#6= 2H$_724$60:7H676 g&3A%)'3"#$%&"%"'("(=
./3( A,6L8.G/73( ,C( C.DGB27( ./3( 6.8.G570( :/( S,D- 6#),L'("+4'%)-,(4+'+2$+2%)&2+1'6+2<#2$+K= &,,L';+:%)"';+20++)'2<+'&:+"'#5'P'&)4'H
L./785T(/,D7(G58./35(,C(5L.9G/B0(Z$-,D,5(2573(JGD- &2+'Bd>nE1'-L-,#"3#$%)1'#$'#$&,'-#$2%-#"2+$= 6#)2<"' &)4' U$"2' &33+&$"' %)' 2<+' 4%&3+$
L796G55G,/(C9,6(<90(".99,83(!.9D790[ #%4".C8D'T&"+"'#5'&-(2+'$+"3%$&2#$L'4%"2$+"" B)&3A%)E' &$+&"' &"' &' -#)W(+)2' $+4' &$+&
"L)4$#6+' &""#-%&2+4' 0%2<' :+)+$&,%X+4 0%2<' &33+&$&)-+' &' 5+0' 4&L"' ,&2+$' #5
2<+' "+-#)4' 5#$61' :+)+$&,%X+4' +$L2<$#= 3("2(,&$'3"#$%&"%"'<&*+';++)'$+3#$2+4.CC7 "6&,,'$+4'3&3(,+"'#)'2<+'2$()A'2<&2'6&L
4+$6&' 6&L' 3$+"+)2' "(44+),L' &)4' ()+K= &,"#' %)*#,*+' 2<+' ,%6;".' ><+"+' 3&3(,+"
3+-2+4,L' #$' $+"(,2' 5$#6' )#)=2#,+$&2+4' +K= FQ%"$A)E%$#@'J2*$2&%3'J*+3#%*#*, ?K&)2<+6= <&*+' 2<+' 2L3%-&,'0<%2+' "-&,+"' #5' 3"#$%&=
2+$)&,' 2$+&26+)2' B+.:.1' Ia\1' &)2<$&,%)E1 &2%-'3("2(,&$'3"#$%&"%"'2+)4"'2#'#--($'&52+$'& "%".'><+'5&-+'6&L'&,"#';+'%)*#,*+4'0%2<
2<("' $+3$+"+)2%):' &' :+)+$&,%X+4' k#+;)+$ *%$&,'%)5+-2%#)'&)4'-#)"%"2"'#5'0%4+"3$+&4 $+4' "-&,L' +$(32%#).' I),%A+' #2<+$' 5#$6"
$+&-2%#).' Y+)+$&,%X+4' 3("2(,&$' 3"#$%&"%" 3("2(,+"'0%2<':+)+$&,%X+4'3,&R(+'3"#$%&"%". #5'3"#$%&"%"1'2<+'$&"<'$+"3#)4"'$+&4%,L'2#
o"++' Y+)+$&,%X+4' !("2(,&$' !"#$%&"%"' B*#) /#0+*+$1' (),%A+' 2<+' *#)' p(6;("-<' 3&2= 2$+&26+)2' &)4' 2+)4"' 2#' 4%"&33+&$' &52+$
p(6;("-<Eq' 6&L' $+*+$2' 2#' +$L2<$#4+$6& 2+$)1' 2<+$+' &$+' )#' -#)"2%2(2%#)&,' "L63= 2<+'&:+'#5'8'L+&$.
0%2<'4%6%)%"<+4'#$'&;"+)2'3("2(,+'5#$6&= 2#6"1' &)4' 2<+' 4%"#$4+$' 2+)4"' )#2' 2#' $+=
2%#).'_--&"%#)&,'4%&:)#"2%-'3$#;,+6"'6&L -($.C7M' ><+$+' %"' &)' #*+$,&3' ;+20++)' 2<%" /72-H:4$60:7H676 S%)+&$' 3"#$%&"%"' %"' &
&$%"+' %)' 4%55+$+)2%&2%):' 3"#$%&2%-' +$L2<$#= 5#$6'#5'3("2(,&$'3"#$%&"%"'&)4'&-(2+':+)+$= *+$L'$&$+'5#$6.'><+'3"#$%&2%-',+"%#)'3$+=
4+$6&'5$#6'#2<+$'-&("+"'B"++'T<&3.'CPE. &,%X+4'+K&)2<+6&2#("'3("2(,#"%"1'&'2L3+'#5 "+)2"' &"' ,%)+&$' ,+"%#)' 6#"2' -#66#),L
4$(:'+$(32%#). #)'2<+',%6;"';(2'6&L'&,"#';+',%6%2+4'2#
$9639/H:4$60:7H676 J+*+$&,'-,%)%-&,'*&$%= &'4+$6&2#6+'#)'2<+'2$()A.'><%"'6&L';+
&)2"' #5' 3("2(,&$' 3"#$%&"%"' +K%"2V' :+)+$&,= R""2&%3'J2*$2&%3'J*+3#%*#*, N))(,&$' 3("= &)'()4+$,L%):')+*("1'3#""%;,L'&)'%)W&6=
%X+4' 3("2(,&$' 3"#$%&"%"' B*#)' p(6;("-< 2(,&$'3"#$%&"%"'%"'&'$&$+'*&$%&)2'#5'3("2(,&$ 6&2#$L' ,%)+&$' *+$$(-#("' +3%4+$6&,' )+=
!;+
K
H "
5789:-4!;<!L HY"J(17/79.8GX73T(@,/(l26S25A-IDNL7(L25D28.9(L5,9G.5G50(%G/N(L25D2875T()(D,(O(66(G/(3G.67D79(,/(79ND-76.D,25(5VG/0
*("' BGSa?gE1' &"' 2<+"+' ,+"%#)"' $+"+6;,+ #5' 3"#$%&"%"' 4%"2%)-2' 5$#6' GSa?g' %" -<&):+".CZ' _%,' "3#2"'&)4' "&,6#)' 3&2-<+"
,%)+&$'3"#$%&"%"';#2<'-,%)%-&,,L'&)4'<%"2#= -#)2$#*+$"%&,.CCH &$+'2$&)",(-+)21'L+,,#0=$+4'4%"-#,#$&2%#)"
,#:%-&,,L.'><+'+K%"2+)-+'#5'&',%)+&$'5#$6 #;"+$*+4';+)+&2<'2<+')&%,'3,&2+'#52+)'+K=
2+)4%):' 4%"2&,,L' 2#0&$4' 2<+' <L3#)L-<=
'78.D73($-N5GA.8(dG/3G/B5
%(61' 4(+' 2#' 3"#$%&"%5#$6' <L3+$3,&"%&1
2H7/ "[H28-64724$60:7H676 BJ++' &,"# 3&$&A+$&2#"%"1' 6%-$#*&"-(,&$' -<&):+"1
T<&3.'9ZE'g&%,' -<&):+"' &$+' 5$+R(+)2' %) &)4' 2$&33%):' #5' )+(2$#3<%,"' %)' 2<+' )&%,
3"#$%&"%"1';+%):'5#()4'%)'(3'2#'Q7'3+$-+)2 ;+4.CC91CCD' I),%A+' 3%22%):1' 0<%-<' %"' &,"#
#5'3&2%+)2"1CZ'&)4'&$+'$&$+'%)'2<+'&;"+)-+ "++)' %)' &,#3+-%&' &$+&2&' &)4' #2<+$' 4%"#$=
#5' "A%)' 4%"+&"+' +,"+0<+$+.' g&%,' %)*#,*+= 4+$"1' #%,' "3#22%):' %"' -#)"%4+$+4' 2#' ;+
6+)2' %)-$+&"+"' 0%2<' &:+1' 0%2<' 4($&2%#) )+&$,L'"3+-%U-'5#$'3"#$%&"%".'J3,%)2+$'<+6=
&)4'+K2+)2'#5'4%"+&"+1'&)4'0%2<'2<+'3$+"= #$$<&:+"' $+"(,2' 5$#6' -&3%,,&$L' ;,++4%):
H +)-+'#5'3"#$%&2%-'&$2<$%2%".'J+*+$&,'4%"2%)-2 ()4+$)+&2<' 2<+' 2<%)' "(3$&3&3%,,&$L' 3,&2+
-<&):+"'<&*+';++)'4+"-$%;+4'&)4'-&)';+ #5' 2<+' 3"#$%&2%-' )&%,' ;+4.' J(;():(&,' <L=
:$#(3+4' &--#$4%):' 2#' 2<+' 3#$2%#)' #5' 2<+ 3+$A+$&2#"%"' %"' 4(+' 2#' <L3+$A+$&2#"%"' #5
)&%,'2<&2'%"'&55+-2+4'B>&;,+'89=8E.CCZ`CCD 2<+')&%,';+4'&)4'%"'#52+)'&--#63&)%+4';L
g&%,' 3%22%):' %"' #)+' #5' 2<+' -#66#)+"2 #)L-<#,L"%"' B"+3&$&2%#)' #5' 2<+' )&%,' 3,&2+
5+&2($+"'#5'3"#$%&"%"1'%)*#,*%):'2<+'U):+$" 5$#6' 2<+' )&%,' ;+4E1' 0<%-<' ("(&,,L' %)=
6#$+'#52+)'2<&)'2<+'2#+"'BF%:.'89=8HE.'!%2" *#,*+"' 2<+' 4%"2&,' &"3+-2' #5' 2<+' )&%,.
$&):+'5$#6'7.M'2#'C.7'66'%)'"%X+'&)4'-&) N)#)L-<%&' %"' 2#2&,' ,#""' #5' 2<+' )&%,' 3,&2+.
;+' "%):,+' #$' 6(,2%3,+.' ><+' 3$#K%6&,' )&%, N,2<#(:<' )&%,' -<&):+"' &$+' $&$+,L' "++)' %)
6&2$%K' 5#$6"' 2<+' 4#$"&,' B"(3+$U-%&,E' 3#$= 2<+',#-&,%X+4'3("2(,&$'*&$%&)2'#5'3("2(,#=
2%#)' #5' 2<+' )&%,' 3,&2+1' &)4' 3"#$%&2%-' %)= "%"'3&,6&$%"'+2'3,&)2&$%"1'&)#)L-<%&'-&)';+
*#,*+6+)2'#5'2<%"'$+:%#)'$+"(,2"'%)'3%22%): "++)'%)'#2<+$'5#$6"'#5'3("2(,&$'3"#$%&"%".
4(+'2#'4+5+-2%*+'A+$&2%)%X&2%#).'_2<+$'&,=
K 2+$&2%#)"' %)' 2<+' )&%,' 6&2$%K' $+"(,2%):' %) 8-08:H$[7"430289- Y+#:$&3<%-' 2#):(+1
4+5#$6%2L'#5'2<+')&%,'3,&2+'B#)L-<#4L"= &,"#' A)#0)' &"' ,*1%01' 3%0$&+#$.' 0-#""%+%"' #$
5789:-4!;<!O $25D28.9(L5,9G.5G50($./78(K(G5 2$#3<LE' %)-,(4+' ,+(A#)L-<%&1' -$(6;,%): 0-#""%+%"'&$*&+&'3%0$&1"1'%"'&)'%4%#3&2<%-'%)=
.( A8,57I2L( ,C( D-7( A825D79( ,C( L25D2875( G/( D-7( 87CD )&%,1' &)4' $+4' "3#2"' %)' 2<+' ,()(,&.' _)L= W&66&2#$L'4%"#$4+$'$+"(,2%):'%)'2<+',#-&,
-.8C(,C(L./78(H0(Z$-,D,(2573(JGD-(L796G55G,/(C9,6 -<#4L"2$#3<L' <&"' &' "2$#):+$' &""#-%&2%#) ,#""' #5' U,%5#$6' 3&3%,,&+.' ><+' -#)4%2%#)
;950(%9G8,V9.4(%74.5@G(./3(E77/.(h-.//.0[ 0%2<' 3"#$%&2%-' &$2<$%2%"' 2<&)' #2<+$' )&%, ("(&,,L' 3$+"+)2"' &"' &"L632#6&2%-' +$L= !;!
5#$6' <L3+$3,&"%&' %"' "++)' %)' #,4+$' &)4 -$+&"+4'%)-%4+)-+'#5'-&$4%#*&"-(,&$'+*+)2"
!"#$%&'()'
3+$"%"2+)2' ,+"%#)".' g+(2$#3<%,"' 6%:$&2+ %)'3"#$%&"%"'$+6&%)"'2#';+'"++).
!"#$%&'"()*+%#(%,+-.#"+#+
5$#6'4%,&2+4'*+""+,"'%)'2<+'(33+$'4+$6%" J+$(6'($%-'&-%4'%"' +,+*&2+4'%)'(3'2#'M7
!/01%23453!6 %)2#'2<+'+3%4+$6%"'0<+$+'2<+L'&::$+:&2+ 3+$-+)2' #5' 3&2%+)2"' &)4' %"' 6&%),L' -#$$+=
0!781739 &10!0&/1%204! ;+)+&2<'2<+'"2$&2(6'-#$)+(6'&)4'%)'2<+ ,&2+4'0%2<'2<+'+K2+)2'#5',+"%#)"'&)4'2<+'&-=
$9,MG6.8 $GDDG/BT(,/NA-,99-7MG5T( (33+$' d&,3%:<%&)' ,&L+$' 2#' 5#$6' 2<+ 2%*%2L'#5'4%"+&"+.'><+$+'%"'&)'%)-$+&"+4'$%"A
6.D9GM j7.2b5(8G/75 "3#):%5#$6'3("2(,+"'#5'k#:#b. #5' 4+*+,#3%):' :#(2L' &$2<$%2%".' J+$(6' ($%-
_2<+$',&;#$&2#$L'&;)#$6&,%2%+"'%)'3"#= &-%4',+*+,"'("(&,,L')#$6&,%X+'&52+$'2<+$&3L.
:/D79673G.D7 >72V,/NA-G.
$%&"%"'&$+'("(&,,L')#2'"3+-%U-'&)4'6&L')#2 d&$A+$"' #5' "L"2+6%-'%)W&66&2%#)' -&)
6.D9GM
;+'5#()4'%)'&,,'3&2%+)2".'G)'"+*+$+'3"#$%&= ;+'%)-$+&"+41'%)-,(4%):'T=$+&-2%*+'3$#2+%)1
;G5D.8(6.D9GM d,A.8(,/NA-,8N5G5T(D-G//73( "%"' *(,:&$%"1' :+)+$&,%X+4' 3("2(,&$' 3"#$%&= C=6&-$#:,#;(,%)1' &)4' +$L2<$#-L2+' "+4%=
/.G8(L8.D7T(79ND-76.(,C(D-7( "%"1' &)4' +$L2<$#4+$6&1' &' )+:&2%*+' )%2$#= 6+)2&2%#)'$&2+.'/#0+*+$1'"(-<'+,+*&2%#)"
82/28. :+)' ;&,&)-+' -&)' ;+' 4+2+-2+41' 6&)%5+"2+4 &$+' $&$+' %)' -<$#)%-' 3,&R(+' 3"#$%&"%"' ()=
E.G8(S73 e=G8(39,Lg(5GB/(,9(e5.86,/( ;L'&'4+-$+&"+'#5'"+$(6'&,;(6%).CP8 -#63,%-&2+4';L'&$2<$%2%".'G)-$+&"+4'"+$(6
L.DA-Tg(52S2/B2.8(-NL79I !"#$%&"%"'3&2%+)2"'6&)%5+"2'&,2+$+4',%3%4 %66()#:,#;(,%)'BG:E'N',+*+,"'&)4'G:N'%6=
V79.D,5G5T(,/NA-,8N5G5T( 3$#U,+"1'+*+)'&2'2<+'#)"+2'#5'2<+%$'"A%)'4%"= 6()+' -#63,+K+"1' &"' 0+,,' &"' "+-#)4&$L
5L8G/D79(-76,99-.B75 +&"+.CPC' !&2%+)2"' <&4' 8M' 3+$-+)2' <%:<+$ &6L,#%4#"%"1' <&*+' &,"#' ;++)' #;"+$*+4' %)
,+*+,"' #5' <%:<=4+)"%2L' ,%3#3$#2+%)"1' &)4 3"#$%&"%"1' &)4' 2<+' ,&22+$' -&$$%+"' &' 3##$
"NL,/NA-G26 F2S2/B2.8(-NL79V79.D,5G5T( 2<+%$'-<#,+"2+$#,=2$%:,L-+$%4+'$&2%#'5#$'*+$L 3$#:)#"%".CPP
,/NA-,8N5G5 ,#0=4+)"%2L' ,%3#3$#2+%)' 3&$2%-,+"' 0&"' 8D
E.G8(L8.D7 !926S8G/B(./3(375D92ADG,/( 3+$-+)2'<%:<+$.'F($2<+$6#$+1'3,&"6&'&3#=
L825(,D-79(A-./B75(57AI ,%3#3$#2+%)=N8' -#)-+)2$&2%#)"' 0+$+' 88
FL7AG.8(%75D5(
,/3.9N(D,(D-7(5L7AGYA(5GD7 3+$-+)2' <%:<+$' %)' 3"#$%&"%"' 3&2%+)2". G66()#"2&%)%):' 2+-<)%R(+"1' W(#$+"=
$9,MG6.8(./3( !2D./7,25(L5,9G.5G5 O<+2<+$' 2<+"+'4%55+$+)-+"' %)' ,%3%4'3$#U,+ -+)-+=&-2%*&2+4' -+,,' "#$2%):' #5' 4%""#-%=
8.D79.8(/.G8(C,835 -&)' +K3,&%)' #$' &$+' -#)2$%;(2%):' 2#' &)' %)= &2+4'-+,,'"("3+)"%#)"1'&)4'&""+""6+)2'#5
<,3GY73(C9,6(;78(',55,(+m(7D(.8K(;796.D,8,BGA(3G5I
7.575(,C(D-7(/.G8(2/GDT(G/(6"5%/7&8-$*"!9:&05";#+/5/:&
14*;$*9T(73GD73(SN(FA-79('hT(;./G78(!'0($-G8.378I
L-G.T(H0j0(F.2/3795T()nn^T(L()^OT(JGD-(L796G55G,/0
>.S,9.D,9N(%75D5
N,2<#(:<' <%"2#3&2<#,#:%-' +K&6%)&2%#)
%"' $&$+,L')+-+""&$L' 2#' 6&A+'2<+'4%&:)#=
"%"1' %2' -&)' ;+' <+,35(,' %)' 4%5U-(,2' -&"+".
><+' <%"2#3&2<#,#:%-' U)4%):"' #5' :(22&2+ " ,
&)4' -<$#)%-' 3,&R(+' 3"#$%&"%"' <&*+' &,=
$+&4L';++)'4+"-$%;+4'B"++'@+*+,#36+)2 5789:-4!;<!" E.G8(L5,9G.5G50($./78(H(376,/5D9.D75(3G5D.8(,/NA-,8N5G5(./3(,G8(39,L(5L,DDG/B0($./78(K(376I
#5' S+"%#)"E.' G)' +&$,L' ,+"%#)"' #5' 3("2(,&$ ,/5D9.D75( 3G5D.8( ,/NA-,8N5G5T( 5.86,/IL.DA-( 3G5A,8,9.DG,/T( ./3( LGDDG/B0( $./78("( 376,/5D9.D75( 5L8G/D79( -76,9I
3"#$%&"%"1' 2<+' +3%4+$6%"' %"' ("(&,,L' #),L 9-.B75(./3(LGDDG/B0($./78(,(376,/5D9.D75(,/NA-,3N5D9,L-N(./3(8,55(,C(/.G85(G/(.(L.DG7/D(JGD-(L5,9G.DGA(.9D-9GDG50
!;I ",%:<2,L' &-&)2<#2%-1' 0<+$+&"' 3"#$%&"%= Z$-,D,5 HT "T ,(2573(JGD-(L796G55G,/(C9,6(;950(+,-.//(1234,/55,/(./3(%9G8,V9.4(%74.5@GT(./3(<90(".99,83(!.9D790[
#*+&'()'
9#::*.*(;#"$%9#")(-+#+%-:%,+-.#"+#+
$60:7H6764.9/8H:76 8933H3- -:N3[:0,-:17" $9639/H:
!"#$%&'()*+ !"#$%&'()*+ !"#$%&'()*+ !"#$%&'()*+
;G5A,G3i/26628.9(7AX76. $GDN9G.5G5(9,57. ;92BIG/32A73 :6L7DGB,
!2D./7,25(%IA788(8N6L-,6.(Z!%!>[ $GDN9G.5G5(8GA-7/,G375( 79ND-9,3796. F2L79YAG.8(A./3G3G.5G5
%G/7.(A,9L,9G5 A-9,/GA. &AX76. '7.ADG@7(.9D-9GDG5(5N/39,67
>GA-7/(L8./25 !%!>iFoX.9N( F2L79YAG.8(C,88GA28GDG5
,"-#'.)/ 5N/39,67
$GDN9G.5G5(92S9.(LG8.9G5 ,"-#'.)/ $GDN9G.5G5(92S9.( ,"-#'.)/
F7S,99-7GA(3796.DGDG5 F6.88(L8.U27( LG8.9G5 $76L-GB25(C,8G.A725
F2S.A2D7(A2D./7,25(82L25(79ND-76.D,525( L.9.L5,9G.5G5 :662/,B8,S28G/(#(L76L-GB25
$>&k# F/733,/IHG8VG/5,/(3G57.57(Z52SI
&9ND-9,V79.D,3796.(ZD-7(YM73(L8.U275(,C(V79.D,3796.(@.9GI >GA-7/(L8./25 A,9/7.8(L25D28.9(3796.D,5G5[
.SG8G5(./3i,9(L9,B9755G@7(5N667D9GA(79ND-9,V79.D,3796. ;92B(792LDG,/ <GB9.D,9N(/7A9,8NDGA(79ND-76.
:/_.66.D,9N(8G/7.9(@7992A,25(7LG3796.8(/7@25 %9./5G7/D(/7,/.D.8(L25D28.9(678./,5G5
"NL79D9,L-GA(8GA-7/(L8./25 0*12+#%34*)%54$ #A9,L25D28,5G5(,C(G/C./AN
>GA-7/(5G6L87M(A-9,/GA25 F7A,/3.9N(5NL-G8G5 #A2D7(B7/79.8GX73(7M./D-76.D,25(
!,/D.AD(3796.DGDG5 L25D28,5G5
!-9,/GA(A2D./7,25(82L25(79ND-76.D,525i3G5A,G3(82L25(
79ND-76.D,525
".G87NI".G87N(3G57.57(Z_7M29.8[
:/D79D9GB,(Z_7M29.8[
)"#.5."(G/C7ADG,/(Z_7M29.8[
0*12+#%34*)%54$
j,J7/(3G57.57i5U2.6,25(A788(A.9AG/,6.(G/(5GD2
&MD9.6.66.9N($.B7D(3G57.57
>=-+,,' $+-+32#$' :+)+' $+&$$&):+6+)2" )+""i' %)' 3&$2%-(,&$1' 5++,%):' "2%:6&2%X+4' -&) 2<+'-#($"+'#5'3"#$%&"%"'%)'(3'2#'M7'3+$-+)2
<&*+';++)'#5'6&b#$'%63#$2&)-+'%)'+,(-%= ,+&4' 2#' 2$+&26+)2' )#)-#63,%&)-+' &)4 #5' 3&2%+)2".' ><+' 4($&2%#)' #5' $+6%""%#)
4&2%):'2<+'3&2<#:+)+"%"'#5'3"#$%&"%"'&)4 0#$"+)%):' #5' 3"#$%&"%".CPD' S%A+0%"+1' 3"L= $&):+"'5$#6'8'L+&$'2#'"+*+$&,'4+-&4+".'G)
%)' -<&$&-2+$%X%):' 2<+' $+"3#)"+' 2#' &)2%= -<#,#:%-&,' "2$+""' -&)' &,"#' ,+&4' 2#' 4+3$+"= 20#' "+3&$&2+' "2(4%+"1' $+6%""%#)' $&):+4
3"#$%&2%-'2<+$&3%+"1';(2'&$+':+)+$&,,L')#2 "%#)'&)4'&)K%+2L.CQ7'><+'3$+*&,+)-+'#5'"(%= 5$#6'8Z'3+$-+)2'2#'MM'3+$-+)2.'G)'&)#2<+$
$+R(%$+4'5#$'4%&:)#"%"'#$'6&)&:+6+)2.' -%4&,' %4+&2%#)' &)4' 4+3$+""%#)' %)' 3&2%+)2" "2(4L'#5'3&2%+)2"'5#,,#0+4'5#$'C8'L+&$"1'Z8
0%2<'3"#$%&"%"'%"'<%:<+$'2<&)'2<&2'$+3#$2+4 3+$-+)2'<&4'3+$"%"2+)2',+"%#)"1'8P'3+$-+)2
%)'#2<+$'6+4%-&,'-#)4%2%#)"'&)4'2<+':+)+$&, 0+$+' 5$++' #5' 2<+' 4%"+&"+1' &)4' 8H' 3+$-+)2
;:dd&'&E%:#>(;:#1E=F:F B\#K 3#3(,&2%#).CQ8' ><("1' &,2<#(:<' 2<+' 4%"+&"+ <&4' %)2+$6%22+)2' ,+"%#)".C7M' ><+' -&("+' #5
89=8E %"')#2'2<$+&2+)%):'2#',%5+'%2"+,51'3"#$%&"%"'-&) "3#)2&)+#("' $+6%""%#)' %"' ()A)#0)1' ;(2
*+$L' "%:)%U-&)2,L' %63&%$' R(&,%2L' #5' ,%5+.CQC -#(,4'$+W+-2'"(--+""5(,':+)+$&2%#)'#5'"+,5=
!=<$>:!#%:=EF N'-#63&$&2%*+'"2(4L'$+3#$2+4'$+4(-2%#)'%) 2#,+$&)-+' ()4+$' 2<+' 6#4+,' #5' %66()#=
3<L"%-&,'&)4'6+)2&,'5()-2%#)%):'-#63&$&= ,#:%-' "+,5=$+&-2%*%2L' 4%"-(""+4' +&$,%+$' B"++
!&2%+)2"' 0%2<' 3"#$%&"%"' <&*+' &)' %)-$+&"+4 ;,+' 0%2<' 2<&2' "++)' %)' -&)-+$1' &$2<$%2%"1'<L= !"#$%&"%"'&"'&)'N(2#%66()+'@%"+&"+E.
6#$;%4%2L'&)4'6#$2&,%2L'5$#6'-&$4%#*&"-(= 3+$2+)"%#)1'<+&$2'4%"+&"+1'4%&;+2+"1'&)4'4+= ?$L2<$#4+$6%-'&)4':+)+$&,%X+4'3("2(=
,&$'+*+)2"1'3&$2%-(,&$,L'2<#"+'0%2<' "+*+$+ 3$+""%#).CQP' N--#$4%):' 2#' &' $+-+)2' "($*+L1 ,&$' 3"#$%&"%"' <&*+' &' 3##$+$' 3$#:)#"%"1
&)4',#):'4($&2%#)'#5'3"#$%&"%"'"A%)'4%"= ZD'3+$-+)2'#5'3&2%+)2"'0%2<'"+*+$+'3"#$%&"%" 0%2<' 2<+' 4%"+&"+' 2+)4%):' 2#' ;+' "+*+$+
+&"+.CPQ1CPM' c%"A' #5' 6L#-&$4%&,' %)5&$-= $+3#$2+4'&')+:&2%*+'%63&-2'#)'2<+%$',%*+".CQQ &)4'3+$"%"2+)2.C7M
2%#)'%"'3&$2%-(,&$L'+,+*&2+4'%)'L#():+$
3&2%+)2"'0%2<'"+*+$+'3"#$%&"%".CPH
!"#$%&"%"'3&2%+)2"'<&*+'&,"#';++)'"<#0) $'=1E=F:F(#E;( <,3GCNG/B(d.AD,95
2#' <&*+' %)-$+&"+4' $+,&2%*+' $%"A' #5' ,L6= !>:E:!#>(!=f'F&
3<#6&1'3&$2%-(,&$,L'%)'3&2%+)2"'0%2<'6#$+ 0K-673N G2' <&"' ;++)' 4+6#)"2$&2+4' 2<&2
E.D29.8("G5D,9NOQW #;+"+' %)4%*%4(&,"' &$+' 6#$+' ,%A+,L' 2#
"+*+$+'4%"+&"+.CPZ
!"#$%&"%"'%"'+6#2%#)&,,L'4%"&;,%):1'-&$$L= Y(22&2+' 3"#$%&"%"' %"' #52+)' &' "+,5=,%6%2+4 3$+"+)2'0%2<'"+*+$+'3"#$%&"%"'B4+U)+4'&"
%):'0%2<'%2'"%:)%U-&)2'3"L-<#"#-%&,'4%5U-(,= s'C7'3+$-+)2';#4L'"($5&-+'&$+&'%)*#,*+=
4%"+&"+1',&"2%):'5$#6'8C'2#'8H'0++A"'0%2<=
2%+".'?6#2%#)&,'4%5U-(,2%+"'&$%"+'5$#6' -#)= #(2' 2$+&26+)2.C7M' G2' <&"' ;++)' +"2%6&2+4 6+)2E.CQQ'/#0+*+$1'#;+"%2L'4#+"')#2'&3=
-+$)"' &;#(2' &33+&$&)-+1' $+"(,2%):' %) 2<&2' #)+=2<%$4' 2#' 20#=2<%$4"' #5' 2<+"+' 3&= 3+&$'2#'<&*+'&'$#,+'%)'4+U)%):'2<+'#)"+2
,#0+$+4'"+,5=+"2++61'"#-%&,'$+b+-2%#)1':(%,21 #5'3"#$%&"%".CQM
2%+)2"' ,&2+$' 4+*+,#3' 2<+' -<$#)%-' 3,&R(+
+6;&$$&""6+)21' +632%)+""1' "+K(&,' 3$#;= 2L3+' #5' 3"#$%&"%".Q18ZQ' G)' -#)2$&"21' -<$#)%-
,+6"1'&)4'%63&%$6+)2'#5'3$#5+""%#)&,'&;%,= 3,&R(+'3"#$%&"%"'%"'%)'6#"2'-&"+"'&',%5+,#): 610_728 J6#A%):' B6#$+' 2<&)' C7' -%:&=
%2L.CP9' ><+' 3$+"+)-+' #5' 3$($%2("' &)4' 3&%) 4%"+&"+1' 6&)%5+"2%):' &2' ()3$+4%-2&;,+' %)= $+22+"'4&%,LE'<&"'&,"#';++)'&""#-%&2+4'0%2<
-&)'&::$&*&2+'2<+"+'"L632#6".'!"L-<#,#:= 2+$*&,".' J3#)2&)+#("' $+6%""%#)"1' ,&"2%): 6#$+'2<&)'&'20#5#,4'%)-$+&"+4'$%"A'#5'"+=
%-&,' &"3+-2"' -&)' 6#4%5L' 2<+' -#($"+' #5' %,,= 5#$'*&$%&;,+'3+$%#4"'#5'2%6+1'6&L'#--($'%) *+$+'3"#$%&"%".CQH'I),%A+'#;+"%2L1'"6#A%): !;?
!"#$%&'(),
6-<#="$%6.*";>*(;+%:-.%,+-.#"+#+
68,0&/1%263?8092 706/50!%9%/!/184@32 6/A/?863!3 &/1&0!3@?0!%0!B0C068?2
<7A-./G56 jG/3(D,(B82A,A,9DGA,G3(97A7LI jG/3(D,(@GD.6G/(;(97A7LD,95T( <7D.S,8GX73(D,(D.X.9,D7/GA(.AG3T( jG/3(D,(dhWQ\ISG/3G/B(L9,D7G/(
,C(.ADG,/ D,95T(G/-GSGDG/B(D-7(D9./5A9GLI G/_27/AG/B(D-7(7ML9755G,/(,C( GD5(.ADG@7(67D.S,8GD7TRW*(J-GA-( Zdhj$[(./3(G/-GSGD(A.8AG/729G/T(
DG,/(,C(6./N(3GCC797/D(#$I)p( 6./N(B7/750($9,6,D7(V79.DGI SG/35(D,(97DG/,GA(.AG3(97A7LD,950( 37A97.5G/B(D-7(.ADG@.DG,/(,C(D-7(
./3(EdI jp37L7/37/D /,AND7(3GCC797/DG.DG,/0 E,96.8GX75(7LG3796.8(3GCC797/DG.I D9./5A9GLDG,/(C.AD,9T(EdI#%T(JGD-(
B7/75T(G/A823G/B(:>I)(./3( DG,/T(7M-GSGD5(.(L,D7/D(./DGL9,8GCI 97528D./D(37A97.57(G/(AND,VG/7(
D26,9(/7A9,5G5(C.AD,9I 0 79.DG@7(7CC7ADT(./3(37A97.575( D9./5A9GLDG,/T(G/A823G/B(:>IO0
7LG3796.8(L9,8GC79.DG,/0(
;,5G/B )QTQQQIC,83(9./B7(,C(L,D7/AN0( !.8AGL,D9G7/7T(Q0QQWqT(D,( #@.G8.S87(G/(Q0QWq(./3(Q0)q( #LL8GA.DG,/(D,(.CC7AD73(.97.5(
"GB-IL,D7/AN(5D79,G35(.97( .CC7AD73(.97.5(DJGA7(3.G8N0( C,9628.DG,/5T(S,D-(.5(A97.6(./3( DJGA7(3.G8N0
.LL8G73(D,(.CC7AD73(.97.5( =CD7/(2573(.8D79/.DG/B(JGD-( B7850(#LL8N(7@79N(/GB-D(D,(
DJGA7(3.G8N(C,9(Opa(JV(./3( D,LGA.8(5D79,G35(ZG070T(@GD.6G/(;( .CC7AD73(.97.0
D-7/(G/D796GDD7/D8N(ZJ77VI ./.8,B275(,/(J77V3.N5T(D,LGI
7/35[0 A.8(5D79,G35(,/(J77V7/35[0
&CYA.AN k79N(7CC7ADG@7(.5(5-,9DID796( &CYA.AN(G5(G/A97.573(SN(A,6I &CYA.AN(G5(G/A97.573(SN(A,6SGI &CC7ADG@7(C,9(D97.D67/D(,C(C.AG.8(./3(
D97.D67/D0 SG/.DG,/(JGD-(D,LGA.8(5D79,G350( /.DG,/(JGD-(D,LGA.8(5D79,G350RWn _7M29.8(L5,9G.5G5O\*(S2D(6G/G6.88N(
!./(S7(A,6SG/73(JGD-(@.9G,25( C,9(A-9,/GA(L8.U27(L5,9G.5G50O\^
,D-79(D-79.LG750
F.C7DN F2LL9755G,/(,C(D-7(-NL,D-.I ;7@78,L67/D(,C(G99GD.DG,/(.D(D-7( H-7/(2573(.5(6,/,D-79.LNT(5GBI j29/G/B(57/5.DG,/(.D(D-7(5GD7(,C(
8.6GAILGD2GD.9NI.397/.8(.MG5( 5GD7(,C(.LL8GA.DG,/(G5(A,6I /GYA./D(L9,L,9DG,/(,C(L.DG7/D5( .LL8GA.DG,/0(!.57(97L,9D5(,C(37@78I
Z-GB-79(9G5V(G/(A-G8397/[0(#D9,I 6,/0OW^(:5,8.D73(97L,9D5(,C( 37@78,L(G99GD.DG,/(.D(D-7(5GD7(,C( ,L67/D(,C(8N6L-,6.0
L-N(,C(D-7(7LG3796G5(./3(379I -NL79A.8A76G.(G/(L.DG7/D5(J-,( .LL8GA.DG,/0R\)
6G50(d,96.DG,/(,C(5D9G.70( .LL8G73(7MA755G@7(U2./DGDG750R\Q
%.A-NL-N8.MG50OW^
!,/D9.G/3GI "NL7957/5GDG@GDN(D,(D-7(5D79I "NL79A.8A76G.T(@GD.6G/(;(D,MI $97B/./ANT(-NL7957/5GDG@GDN(D,( f57(,/8N(JGD-(A.2DG,/(C,9(D97.DI
A.DG,/5 ,G3T(.ADG@7(5VG/(G/C7ADG,/0( GAGDN0( D.X.9,D7/70 67/D(,C(A-G8397/(N,2/B79(D-./(D-7(
.B7(,C(O(N90
'76.9V5i >,/BID796(257(G/A97.575(9G5V( !.8AGL,D9G,8(G5(J788(D,879.D73( !,6SG/.DG,/(,C(5D79,G3(JGD-(D.X.9I ;27(D,(./7A3,D.8(97L,9D5(,C(.55,I
8,/BID796 ,C(5G37(7CC7AD50 ./3(A,/DG/275(D,(S7(A8G/GA.88N( ,D7/7(6.N(9732A7(.D9,L-N(577/( AG.DG,/(JGD-(6.8GB/./ANT(D-G5(A8.55(
257 7CC7ADG@7(JGD-(6G/G626(,C( JGD-(52L79IL,D7/D(D,LGA.8(5D79I ,C(673GA.DG,/5(97A7/D8N(97A7G@73(.(
.3@7957(7CC7AD5(G/(8,/BID796( ,G350RWn(:C(.3373(329G/B(L-,D,D-79I S8.AVIS,M(J.9/G/B(SN(D-7(f0F0(
2570R\OTR\R .LNT(D-7(28D9.@G,87D(3,575(5-,283( d,,3(./3(;92B(#36G/G5D9.DG,/0
S7(9732A73(SN(,/7ID-G930OW^
$97B/./AN ! ! r !
A.D7B,9N
#$(c(.ADG@.D,9(L9,D7G/P(:>(c(G/D79872VG/P(Ed(c(/2A87.9(C.AD,9P(EdI#%(c(/2A87.9(C.AD,9(,C(.ADG@.D73(%(A78850
<&;(c(6G/G6.8(79ND-76.(3,57P(<$;(c(6G/G6.8(L-,D,D,MGA(3,57P(fkj(c(28D9.@G,87D(jP(fk#(c(28D9.@G,87D(#0
&' 2$+&26+)2' $+:%6+)' B"++' F%:.' 89=HE' %2' %" $#2&2%#)&,' 2$+&26+)2"CMH' &$+' "(::+"2+4. -#"6+2%-&,,L' ()&--+32&;,+' &)4' 2%6+=
%63#$2&)2'2#'$+-#)-%,+'2<+'+K2+)2'&)4'2<+ /#0+*+$1' 3&2%+)2"' 0%2<' "2&;,+' -<$#)%- -#)"(6%):'2#'("+1')#)=-#63,%&)-+'%"'#)
6+&"($&;,+' "+*+$%2L' #5' 2<+' 4%"+&"+' 0%2< 3,&R(+'3"#$%&"%"'0<#'$+"3#)4'0+,,'2#',#= 2<+'#$4+$'#5'Q7'3+$-+)2.CMD'G)'6#"2'-&"+"1
2<+'3&2%+)2j"'#0)'3+$-+32%#)'#5'<%"'#$'<+$ -&,' 2$+&26+)2"' 6&L' )#2' $+R(%$+' &' -<&):+ #%)26+)2' 5#$6(,&2%#)"' &$+' 6#$+' +55+-=
4%"+&"+.'G)'2<%"'-#)2+K21'%2'%"')#2&;,+'2<&2'& #5' 2$+&26+)2.CMH' G)' -&"+"' #5' %2-<Lh3$($%2%- 2%*+' 2<&)' -$+&6"' ;(2' &$+' ,+""' -#"6+2%=
$+-+)2'"2(4L'5#()4'2<&2'Q7'3+$-+)2'#5'3&= 3"#$%&"%"1'2$+&26+)2"'0%2<'&)'%$$%2&2%*+'3#= -&,,L'&--+32&;,+.'F#$'6&)L'3&2%+)2"1'%2'%"
2%+)2"' 5+,2' 5$("2$&2+4' 0%2<' 2<+' %)+55+-2%*+= 2+)2%&,1'"(-<'&"'4%2<$&)#,1'*%2&6%)'@P'&)&= 0#$2<'3$+"-$%;%):';#2<'-$+&6'&)4'#%)2=
)+""'#5'2<+%$'-($$+)2'2<+$&3%+"1'&)4'PC'3+$= ,#:(+"1'&)4'3<#2#B-<+6#E2<+$&3L1'"<#(,4 6+)2'5#$6(,&2%#)"i'-$+&6'5#$'("+'%)'2<+
-+)2' $+3#$2+4' 2<&2' 2$+&26+)2' 0&"' )#2 ;+' ("+4' -&(2%#(",L1' 0<+$+&"' 2$+&26+)2" 6#$)%):'&)4'#%)26+)2'5#$')%:<22%6+.CH7
&::$+""%*+' +)#(:<.CQQ' N"' 3"#$%&"%"' %"' & 0%2<' 3#2+)2' &)2%=%)W&66&2#$L' +55+-2"1
-<$#)%-'-#)4%2%#)1'%2'%"'%63#$2&)2'2#'A)#0 "(-<' &"' 2#3%-&,' -#$2%-#"2+$#%4"1' &$+' 6#$+ "0:37"063-:07,6 Y,(-#-#$2%-#%4"' +K+$2
2<+'"&5+2L'#5'&'2$+&26+)2'4($%):',#):=2+$6 &33$#3$%&2+.CMH 6&)L'%5')#2'&,,'#5'2<+%$'6L$%&4'+55+-2"';L
("+.'G)'6#"2'2$+&26+)2"1'2<+'4($&2%#)'#5'& G)' 3&2%+)2"' 0%2<' +$L2<$#4+$6%-' &)4 "2&;%,%X%):'&)4'-&("%):')(-,+&$'2$&)",#-&=
2$+&26+)2' %"'$+"2$%-2+4';+-&("+' #5' 2<+' -(= 3("2(,&$'3"#$%&"%"1'2$+&26+)2"'0%2<'&)'%$$%= 2%#)' #5' :,(-#-#$2%-#%4' $+-+32#$"1' 0<%-<
6(,&2%*+' 2#K%-%2L' 3#2+)2%&,' #5' &)' %)4%*%4= 2&)2'3#2+)2%&,'"<#(,4';+'&*#%4+41'&)4'&-%= &$+'6+6;+$"'#5'2<+')(-,+&$'<#$6#)+'$+=
(&,' 2$+&26+)21' &)41' %)' "#6+' %)"2&)-+"1 2$+2%)1' d>n1' #$' "<#$2=-#($"+' -L-,#"3#$%) -+32#$' "(3+$5&6%,L.' >#3%-&,' :,(-#-#$2%=
2$+&26+)2' +5U-&-L' 6&L' 4%6%)%"<' 0%2< &$+'2<+'2$+&26+)2"'#5'U$"2'-<#%-+.CMH -#%4"'&$+'-#66#),L'U$"2=,%)+'2<+$&3L'%)
2%6+' B2&-<L3<L,&K%"E.' J#6+' 2$+&26+)2"1 J++ \#K+"' 89=C' &)4' 89=P' 5#$' "3+-%&, 6%,4' 2#' 6#4+$&2+' 3"#$%&"%"' &)4' %)' "%2+"
"(-<' &"' -&,-%3#2$%#,1' d>n1' &)4' &-%2$+2%)1 -#)"%4+$&2%#)"' %)' 2<+' 2$+&26+)2' #5 "(-<'&"'2<+'W+K($+"'&)4':+)%2&,%&1'0<+$+
-&)';+'$+:&$4+4'&"'&33$#3$%&2+'5#$'-#)2%)= 0#6+)' #5' -<%,4=;+&$%):' 3#2+)2%&,' &)4 #2<+$' 2#3%-&,'2$+&26+)2"'-&)' %)4(-+'%$$%=
(#("' ("+.CMH' ><+"+' 2$+&26+)2"' 6&%)2&%) 3$+:)&)-L'&)4'-<%,4$+). 2&2%#).'G63$#*+6+)2'%"'("(&,,L'&-<%+*+4
+5U-&-L'&)4'<&*+',#0'-(6(,&2%*+'2#K%-%2L 0%2<%)' C' 2#'Q'0++A"1' 0%2<' 6&%)2+)&)-+
3#2+)2%&,.' G)' -#)2$&"21' 2#3%-&,' -#$2%-#"2+$= 2$+&26+)2' -#)"%"2%):' #5' %)2+$6%22+)2' &3=
#%4"1'4%2<$&)#,1'2&$1'3<#2#B-<+6#E2<+$&3L1
%,LGA.8(%97.D67/D5 B"++ >&;,+'89=CECMZ1CM9
3,%-&2%#)"' B#52+)' $+"2$%-2+4' 2#' 2<+' 0++A=
&)4'-L-,#"3#$%)'&$+')#2'%)4%-&2+4'5#$'-#)= d#"2'-&"+"'#5'3"#$%&"%"'&$+'2$+&2+4'2#3%= +)4"E.' >&-<L3<L,&K%"' 2#' 2$+&26+)2' 0%2<
2%)(#("'-<$#)%-'("+1'&)4'-#6;%)&2#$%&,'#$ -&,,L.' N"' 2#3%-&,' 2$+&26+)2"' &$+' #52+) 2#3%-&,' -#$2%-#"2+$#%4"' %"' &' 0+,,=+"2&;= !;O
!"#$%&'().
2D+;*>#=%6.*";>*(;+%:-.%,+-.#"+#+
&P&182,8?0!%/ 536B86?3N/63 /&06?360! Q@5/?0&%/&09%3263?2
<7A-./G56 jG/35(ANA8,L-G8G/T(./3(D-7( j8,AV5(3G-N39,C,8.D7(9732AD.57T( jG/35(D,(97DG/,GA(.AG3(97A7LI :/D79C7975(JGD-(G/D9.A78828.9(
,C(.ADG,/ 97528DG/B(A,6L87M(S8,AV5(A.8I 87.3G/B(D,(G/-GSGDG,/(,C(L29G/7(./3( D,950(<.N(A,/D9GS2D7(D,( 973,M(97B28.DG,/T(G/-GSGDG/B(EdI
AG/729G/T(9732AG/B(D-7(7CC7AD( LN9G6G3G/7(5N/D-75G50(#85,(S8,AV5( G6L9,@767/D(SN(/,96.8GXG/B( j(D9./58,A.DG,/0(FV7J5(D-7(%I
,C(D-7(EdI#%(G/(%(A7885T(97528DI #:!#'(D9./5C,96N8.57T(87.3G/B(D,( V79.DG/GX.DG,/(./3(L9,8GC79.DG,/( A788(975L,/57(D,J.93(.(%-OI8GV7(
G/B(G/(G/-GSGDG,/(,C(G/D79872VG/( .AA2628.DG,/(,C(./DGIG/_.66.D,9N( ,C(D-7(7LG3796G50 L.DD79/0R^a
O(./3(,D-79(AND,VG/750 .37/,5G/70R^R
;,5G/B "GB-I3,57(.LL9,.A-K FD.9D(JGD-(.(D75D(3,57(,C(O0W(6B( :/GDG.D7(.D(OWpWQ(6B(3.G8N(./3( :/GDG.D7(.D(8,J(3,57T(./3(75A.I
W(6BiVB(3.G8NT(D-7/(D.L79730 ./3(D-7/(B9.32.88N(G/A97.57(3,57( 75A.8.D7(./3(DGD9.D7(D,( 8.D7(3,57(J77V8N0(#CD79(D97.DI
>,JI3,57(.LL9,.A-K 2/DG8(.(D-79.L72DGA(87@78(G5(.A-G7@73( 975L,/570R^W 67/D(975L,/57(G5(.A-G7@73T(D-7(
O0W(6BiVB(3.G8NT(G/A97.573( Z.@79.B7(9./B7T()Qp)W(6B(J77V8NP( 3,57(5-,283(S7(G/3G@G32.88N(
7@79N(Opa(JV(2L(D,(W(6BiVB( 6.MG626T(OWpRQ(6B(J77V8N[0R^W .3425D730(%-7(6.MG626(3,57(G5(
3.G8N0R^W(%.L79G/B(G5(97A,6I )0O(Bi3.N0Onn
67/373(,/(3G5A,/DG/2.DG,/0
&CYA.AN k79N(7CC7ADG@7T(2L(D,(nQq(,C( <.N(9732A7(D-7(57@79GDN(,C(L5,9G.I <,375D8N(7CC7ADG@7(.5(6,/,I *Qq(<7./(9732ADG,/(G/($5,9G.I
L.DG7/D5(.A-G7@7(A87.9./A7(,9( 5G5(SN(.D(87.5D(WQq(G/(6,97(D-./( D-79.LN0O\Q 5G5(#97.(./3(F7@79GDN(:/37M0R^*
6.9V73(G6L9,@767/D0R^\TR^^ ^Wq(,C(L.DG7/D50O\Q
F.C7DN E7L-9,D,MGAGDNT("%ET(G662/,I "7L.D,D,MGAGDNT(A-9,/GA(257(6.N( "7L.D,D,MGAGDNT(8GLG3(.S/,96.8I 1:(5N6LD,65T(G/A823G/B(3G.9I
52LL9755G,/0(:/A97.573(9G5V(,C( 87.3(D,(-7L.DGA(YS9,5G50(d7D.8( GDG75T(C7D.8(.S/,96.8GDG75(,9( 9-7.0(d825-G/B(u(-7.3.A-750(
6.8GB/./AN(GC(S7C,97($fk#0 .S/,96.8GDG75(,9(37.D-T(6N78,52LI 37.D-T(.8,L7AG.T(62A,A2D./7I >N6L-,L7/G.T(.A2D7(97/.8(C.G8I
L9755G,/T(L286,/.9N(YS9,5G5T( ,25(D,MGAGDNT(-NL79,5D,5G50 2970OnnTR^*
57@797(5VG/(97.ADG,/50('.978NT(
57@797(,LL,9D2/G5DGA(G/C7ADG,/50
<,/GD,9G/B j$0(=SD.G/(S.578G/7(!j!T( j.578G/7(!j!(./3(>d%50(<,/GD,9( j.578G/7(>d%5T(!j!T(8GLG35T( j.578G/7(!j!T(!<$T(f#0('7L7.D(
!<$T(6.B/75G26T(29GA(.AG3T( !j!(./3(>d%5(J77V8N(2/DG8(D.9B7D( L97B/./AN(D75D0('7L7.D(>d%5T( D75D5(7@79N(6,/D-(C,9(D-7(Y95D(\(
8GLG35T(f#0('7L7.D(D75D5(7@79N( 3,57(G5(.A-G7@73T(D-7/(7@79N(ap*( !j!T(8GLG35(7@79N(J77V(C,9()(6,( 6,(./3(SGI6,/D-8N(D-797.CD790Onn
Opa(JVT(D-7/(7@79N(6,/D-( JV0O*W(>G@79(SG,L5N(7@79N()0W(B(,C( D-7/(7@79N(a(JV0($97B/./AN(D75D(
.8,/B(JGD-(j$0O*W A2628.DG@7(3,57(,9(257(L9,A,8I 7@79N(6,/D-(C,9(C76.8750(FLGI
8.B7/(:::(.55.N0 /.8(MI9.N5(GC(5N6LD,650
!,/D9.G/3GI #S5,82D7K #S5,82D7K #S5,82D7K( #S5,82D7K
A.DG,/5 f/A,/D9,8873("%ET(.S/,96.8( $97B/./ANT(8.AD.DG,/0 $97B/./AN(329G/B(,9(JGD-G/( $.DG7/D5(JGD-(A-9,/GA(3G57.57(
97/.8(C2/ADG,/T(-G5D,9NiA29I '78.DG@7K R(N7.95(.CD79(D796G/.DG,/(,C( ,C(D-7(1:(D9.AD(,9(97/.8(3G5I
97/D(6.8GB/./AN0 "7L.DGA(3N5C2/ADG,/T(-7L.DGDG5T( .AGD97DG/T(8.AD.DG,/0 7.570($97B/./D(,9(8.AD.DG/B(
97/.8(G/52CYAG7/AN0 J,67/0(<.8GB/./AN(Z,9(-G5I
D,9N(,C[0Onn
'76.9V5i :/D796GDD7/D(5-,9DIA,2957( HGD-(.LL9,L9G.D7(6,/GD,9G/BT(8,/BI '7DG/,G35(-.@7(S77/(A,6I E,D(f0F0(d,,3(./3(;92B(#36G/I
8,/BID796 D97.D67/D5(.LL7.9(D,(S7(5.C79( D796(257(.LL7.95(D,(S7(5.C70 SG/73(JGD-($fk#(./3(,AA.I G5D9.DG,/I.LL9,@73(C,9(L5,9G.5G5(
257 D-./(A-9,/GA(8,/BID796( 5G,/.88N(JGD-(fkj(G/(./( S2D(JG378N(2573(G/(&29,L70(E7J(
2570R^^TR^n .DD76LD(D,(6G/G6GX7(D-7(5G37( C,9628.DG,/5(6.N(9732A7(9G5V(,C(
7CC7AD5(./3(D,(G6L9,@7(D-79.I 1:(5N6LD,650
L72DGA(975L,/570O\Q
$97B/./AN ! r r !
A.D7B,9N
BP9?8NP@?3/ RG6B084@/!0!3 5P&8,B3!81/63%58Q3601 2@1Q/2/1/A0!3
<7A-./G56 :/-GSGD5(9GS,/2A87,DG37(3GL-,5I $29G/7(./.8,B(D-.D(G/D79C7975(JGD-( #(/,/A,6L7DGDG@7(G/-GSGD,9(,C( #/DGIG/_.66.D,9N(.B7/DT(G/-GSI
,C(.ADG,/ L-.D7(9732AD.57T(J-GA-(A,/I L29G/7(SG,5N/D-75G5T(D-797SN(G/32AI G/,5G/7(6,/,L-,5L-.D7(37-NI GD5(WI8GL,MNB7/.57T(6,87A28.9(
@79D5(9GS,/2A87,DG375(D,( G/B(A788(ANA87(.9975D(./3(.L,LD,5G50 39,B7/.57T(S8,AVG/B(37(/,@,( 67A-./G56(2/A87.90
37,MN9GS,/2A87,DG375T(D-25( L29G/7(SG,5N/D-75G50(F787AI
5787ADG@78N(G/-GSGDG/B(;E#(5N/I DG@78N(AND,D,MGA(C,9(A7885(D-.D(
D-75G5(G/(L9,8GC79.DG/B(A78850( 978N(,/(37(/,@,(L29G/7(5N/D-7I
5G5(ZG070T(8N6L-,AND75[0
;,5G/B WQQ(6B(3.G8NT(G/A97.573(D,( FD.9DG/B(3,57(G5(*Q(6B(DJGA7( ;,575(,CD7/(G/GDG.D73(.D(WQQp FD.9DG/B(3,57K(WQQ(6B(DG30(:C(D,879I
)0Qp)0W(B(3.G8N(S.573(,/( J77V8NT(JGD-(OQI6B(G/A9767/D5( ^WQ(6B(SG3(./3(D-7/( .D73(.CD79(R(3.N5T(G/A97.57(3,57(
975L,/57(./3(D,879./A70O*W 7@79N(Opa(J77V50(<.MG626(3,57T( G/A97.573(D,()0Qp)0W(B(SG30( D,()(B(DG30(:C(D,879.D73(.CD79(\(JVT(
)\Q(6B(D-977(DG675(J77V8N0O*W G/A97.57(3,57(D,()(B(UG30O*W
<3+#25#4$.=
!;"
!"#$%&'().
2D+;*>#=%6.*";>*(;+%:-.%,+-.#"+#+%F&-(;#(S*TM
BP9?8NP@?3/ RG6B084@/!0!3 5P&8,B3!81/63%58Q3601 2@1Q/2/1/A0!3
&CYA.AN :/(.(5D23N(,C(*W(L.DG7/D5(JGD-( #(56.88(97D9,5L7ADG@7(A,-,9D(5D23N( #LL7.95(D,(S7(,/8N(6,379.D78N( #LL7.95(D,(S7(6,379.D78N(7CC7AI
7MD7/5G@7(A-9,/GA(L8.U27(L5,I 376,/5D9.D73(s(nQq(G6L9,@7I 7CC7ADG@7(C,9(D97.D67/D(,C(L5,I DG@7(D97.D67/D(C,9(57@797(L5,9G.I
9G.5G5T(\)q(-.3(5.DG5C.AD,9N( 67/D(G/(2L(D,(*Qq(,C(L.DG7/D50RQR 9G.5G50R*)TR*O 5G50R*R
976G55G,/0R*Q
F.C7DN j,/7(6.99,J(52LL9755G,/T( j,/7(6.99,J(52LL9755G,/P(1:( 1:T(G/A823G/B(A,/5DGL.DG,/T( "7.3.A-7T(/.257.(./3(@,6GDI
6.A9,AND,5G50(%79.D,B7/GAGDN(./3( A,6L8.G/D5T(G/A823G/B(/.257.(./3( 3G.99-7.T(/.257.(./3(@,6GDI G/BT(J-GA-(,AA29(G/(.LL9,MGI
62D.B7/GAGDN0(;796.D,8,BGA(5G37( 3G.99-7.P(-7L.DGA(3N5C2/ADG,/0( G/BT(S8773G/B0(<N78,52LL975I 6.D78N(,/7ID-G93(,C(L.DG7/D50(
7CC7AD5K(8GA-7/(L8./25p8GV7(792LI :/5D./A75(,C(-7L.D,@7/,25I,AA82I 5G,/T(872V,L7/G.0("7.3.A-75T( '.5-75T(L929GD25T(./3(-76,8NDGA(
DG,/5T(7M.A79S.DG,/(,C(L,5DIG99.I 5G@7(3G57.57(-.@7(S77/( "%ET(L79GL-79.8(7376.0(:/C7AI ./76G.(Z.55,AG.D73(JGD-(1\$;(
3G.DG,/(79ND-76.T(87B(28A795T( 97L,9D730RQa DG,25(3G57.57T(8N6L-,6.0( 37YAG7/AN[0
./3(3796.D,6N,5GDG5(A-./B750(
<,/GD,9G/B j.578G/7(!j!T(!<$T(>d%50( j.578G/7(!j!T(!<$T(>d%50('7L7.D( j.578G/7(!j!(./3(!<$0( j.578G/7(!j!T(!<$T(./3(1\$;0(
'7L7.D(S.578G/7(D75D5(J77V8N( S.578G/7(D75D5(J77V8N(329G/B(3,57( '7L7.D(8.S,9.D,9N(D75D5( '7L7.D(!j!(./3(!<$(J77V8N(
C,9(a(JV(D-7/(7@79N(Opa(JV( 75A.8.DG,/T(D-7/(7@79N(O(JV0(",83(GC( J77V8N $(\(JVT(D-7/(7@79N(O( C,9()(6,T(D-7/(7@79N(O(JV(C,9()(
C,9(.D(87.5D()O(JV0(%-7/( Hj! (a0Q($()Qni>T(L8.D787D(A,2/D( JV $(O(6,T(./3(D-7/(6,/D-8N0( 6,T(D-7/(6,/D-8N(C,9(R(6,T(./3(
97L7.D(D75D5(7@79N(R(6,0O*W G5(t()OW($()Qni>T(,9(-76,B8,SG/(t( <,/GD,9(j$0 D-7/(7@79N(R(6,0(
",83(3,5.B7(GC(Hj!(t(O0W($ ))Q(Bi>0O*W
)Qni>T(L8.D787D(A,2/D(G5(t()QQ(
$()Qni>(,9(57@797(./76G.0
!,/D9.G/3GI #S5,82D7K #S5,82D7K #S5,82D7K #S5,82D7K
A.DG,/5 $9G,9(S,/7(6.99,J(37L975I $.DG7/D5(JGD-(G/-79GD73(37YAG7/AN( $.DG7/D5(JGD-(57@797(G/C7AI "NL7957/5GDG@GDN(D,(528C.5.8.I
5G,/(Z872V,L7/G.T(D-9,6S,I ,C(D-G,L29G/7(67D-N8D9./5C79.57( DG,/5T(6.8GB/./AN0O*W XG/7T(528C.(392B5T(5.8GAN8.D75T(
AND,L7/G.T(./76G.[T( 7/XN67(-.@7(G/A97.573(9G5V(,C( G/D75DG/.8(,9(29G/.9N(,S5D92AI
L97B/./ANT(8.AD.DG,/0 6N78,52LL9755G,/0(>G@79(D,MGAGDN0( DG,/T(L,9L-N9G.0($97A.2DG,/(G/(
'78.DG@7K $97B/./AN0 L.DG7/D5(JGD-(1\$;(37YI
'7/.8(.S/,96.8GDG750 AG7/AN0
'76.9V5i >G6GD73(7ML79G7/A7(JGD-(8,/BI $.DG7/D5(-.@7(S77/(7CC7ADG@78N( >G6GD73(7ML79G7/A7(JGD-(8,/BI >G6GD73(7ML79G7/A7(JGD-(8,/BI
8,/BID796 D796(D97.D67/D0 6.G/D.G/73(,/(D97.D67/D(C,9(2L(D,( D796(D97.D67/D0 D796(D97.D67/D0
257 RR(6,0R*a
$97B/./AN ; ; ! j
A.D7B,9N
#:!#'(c(WI#6G/,G6G3.X,87IaIA.9S,M.6G37(9GS,/2A87,DG37P(j$(c(S8,,3(L9755297P(!j!(c(A,6L87D7(S8,,3(A788(A,2/DP(!<$(c(A,6L97-7/5G@7(67D.S,8GA(L./78P(1\$;(c(
B82A,57I\IL-,5L-.D7(37-N39,B7/.57P(1:(c(B.5D9,G/D75DG/.8P("%E(c(-NL79D7/5G,/P(>d%5(c(8G@79(C2/ADG,/(D75D5P(Ed(c(/2A87.9(C.AD,9P(EdI#%(c(/2A87.9(C.AD,9(,C(.ADG@.D73(
%(A7885P($fk#(c(L5,9.87/(./3(fk#(8GB-DP(%-(c(%(-78L79P(f#(c(29G/.8N5G5P(fk(c(28D9.@G,87DP(Hj!(c(J-GD7(S8,,3(A788(A,2/D0
!"#$%&'()/
&->U#(";#-(%6.*";>*(;+%:-.%,+-.#"+#+
68,0&/1 @16?/G ,28?/13!
68,0&/1 &8?60&8G 708136%C% /!9%@7/% 536B86?3N/63 &P&182,8?0!
706/50!%9I 263?8092 906B?/!81 &8/1%6/? 6/A/?863!3 F@7CM 104B6%F,@7/M F56NM /%F&2/M
#AGD97DG/ `` ` ` ` ` `` `` p u
!5# `` ` ` ` ` u p u
<%r ` ` ` ` ` u u
$fk# `` ` ` p `` u
fkj `i`` ` `i`` `i`` ``
%.X.9,D7/7 ` `` ` `
!,.8(D.9 ` ` `i``
;GD-9./,8 ` `
%,LGA.8(A,9DGA,I `i``
5D79,G35
p(c(A,/D9.G/3GA.D73(A,6SG/.DG,/P(u(c(G/52CYAG7/D(7@G37/A7P(`(c(97A,667/373(A,6SG/.DG,/P(``(c(5D9,/B8N(97A,667/373(A,6SG/.DG,/0
'7.5,/5(C,9(A,/D9.G/3GA.D73(A,6SG/.DG,/5K(!5#(JGD-($fk#P(G/A97.573(9G5V(,C(5U2.6,25(A788(A.9AG/,6.0(!,.8(D.9(JGD-($fk#T(57@797(L-,D,D,MGA(975L,/5750(#AGD97DG/(JGD-(
<%rT(-7L.D,D,MGAGDN0
#3.LD73(C9,6(@./(37(h79V-,C($!K(%-79.L72DGA(5D9.D7BG75K(',D.DG,/.8(D-79.LN(./3(A,6SG/.DG,/50()%5#&>?!&0$*@"2+% I"KRW\T(OQQ)T(JGD-(L796G55G,/0
!;*
!"#$%&'()0
C#-$-)#=%6.*";>*(;+%:-.%,+-.#"+#+
/13Q/&3,6 3Q/10A@5/C 36/!3?&3,6 0!Q10N05/C /9/105@5/C
<7A-./G56 jG/35(!;O(,/(%(A7885T( jG/35(!;)).(Z (52S2/GD( "26./(97A,6SG/./DT(5,8I !-G679GA(6,/,A8,/.8( d288N(-26./(97A,6SGI
S8,AVG/B(D-7(!;OI>d#R( ,C(>d#I)[0(j8,AV5(D-7( 2S87(%EdI (97A7LD,90( ./DGS,3N(D-.D(-.5(-GB-( /./D(6,/,A8,/.8(./DGI
G/D79.ADG,/T(D-25(G/D79I G/D79.ADG,/(,C(>d#I)(JGD-( jG/35(%EdI (./3(/72I 5L7AGYAGDNT(.CY/GDNT(./3( S,3N(D-.D((5L7AGYA.88N(
C79G/B(JGD-(%IA788(.ADG@.I G/D79A78828.9(.3-75G,/( D9.8GX75(GD5(.ADG@GDN0( .@G3GDN(C,9(%EdI 0 D.9B7D5(%EdI 0
DG,/(./3(A.25G/B(%IA788( 6,87A287I)0(:/-GSGD5(%IA788(
.L,LD,5G50 .ADG@.DG,/T(D9.CYAVG/BT(./3(
.3-75G,/(D,(V79.DG/,AND750
;,5G/B )W(6B(:<(,/A7(J77V8N0 F2SA2D./7,25(G/47ADG,/50 OWI(D,(WQI6B(G/47ADG,/5( :/D9.@7/,25(G/C25G,/5( aQI6B(G/47ADG,/5(52SI
!,/3GDG,/G/BK(Q0^(6BiVB0 52SA2D./7,258N(DJGA7( ,@79(O(-0(Wp)Q(6BiVB(.D( A2D./7,258N(7@79N(
<.G/D7/./A7K()(6BiVB( J77V8N0 J77V5(QT(OT(./3(\0 ,D-79(J77V0
J77V8N0
&CYA.AN $#F:I^W(.D()a(JV(ZO(JV( $#F:I^W(.D()O(JVT(OOqp $#F:I^W(.D()O(JVT(Raq( $#F:I^W(.D()Q(JVT(*Oq( $#F:I^W(.D(Oa(
.CD79(8.5D(3,57[(Oaq0( a)qPR*\pR**(.D(Oa(JVT( ./3(.D(Oa(JVT(aaq0RnQ ZW(6BiVB[(./3(n)q(Z)Q( J77V5(Wnq0RnO
$.DG7/D5(J-,(975L,/3( aaqPR*n(./3(.D(O^(6,(,C( 6BiVB[0Rn)(#D(JV(O\(ZC,8I
6.G/D.G/(G6L9,@767/D(C,9( 7MD7/373(D97.D67/DT( 8,JG/B(.(5G/B87(A,2957[T(
7MD7/373(L79G,35(,C(DG670( W\q0R** W^q(,C(L.DG7/D5(6.G/I
'7L7.D(A,29575(.97(5.C7( D.G/73($#F:IWQT(./3(WQq(
./3(J788(D,879.D730R*W 6.G/D.G/73($#F:I^W0Rn)
F.C7DN >N6L-,L7/G.T(6.8GBI F79G,25(G/C7ADG,/5T( F79G,25(G/C7ADG,/5T(7M.AI :/C25G,/I978.D73(97.AI :/47ADG,/(5GD7(97.AI
/./ANT(579G,25(G/C7AI D-9,6S,AND,L7/G.T(7M.AI 79S.DG,/(,C(<FT(L./ANI DG,/5T(G/C7ADG,/5T(J,957/I DG,/5T(G/C7ADG,/5T(
DG,/50(E,D(97A,667/373( 79S.DG,/(,C(L5,9G.5G50(>G@7( D,L7/G.T(6.8GB/./AN0( G/B(,C(<FT(6.8GB/./AN(,9( 82L25I8GV7(5N/39,67T(
C,9(-26./(G662/,37YI @.AAG/.DG,/5(/,D(97A,6I H,957/G/B(A,/B75DG@7( 8N6L-,L9,8GC79.DG@7(3G5I J,957/G/B(-7.9D(C.G8I
AG7/AN(@G925pL,5GDG@7( 67/3730 -7.9D(C.G82970(>2L25I8GV7( 7.57T(J,957/G/B(-7.9D( 297T(AND,L7/G.5T(/72I
L.DG7/D50 5N6LD,65(Z./DGI35;E#( C.G82970(>2L25I8GV7(5N6LI 9,8,BGA(7@7/D50RnR(>G@7(
&CC7AD5(,C(8G@7(@.AAG/75( L,5GDG@7[0(>G@7(@.AAG/.I D,65(Z./DGI35;E#(L,5GI @.AAG/.DG,/5(5-,283(
/,D(5D23G730 DG,/5(5-,283(/,D(S7(BG@7/0 DG@7[0(>G@7(@.AAG/.DG,/5( /,D(S7(BG@7/0
5-,283(/,D(S7(BG@7/0
<,/GD,9G/B !;a`(%IA788(A,2/D5( '7B28.9(L8.D787D(A,2/D50 j.578G/7($$;0 j.578G/7($$;0 j.578G/7($$;0
7@79N(O(JV(329G/B(D97.DI
67/D0
>,/BID796 fL(D,(/G/7(A,29575(-.@7( $#F:(975L,/575(A,/DG/27( $#F:(975L,/57(A,/DG/275( #5(G/D796GDD7/D(D-79.LN0( &ML7AD73(D,(S7(5G6G8.9(
.36G/G5D9.I S77/(.36G/G5D7973(,@79( D,(G/A97.57(D,(JV(Oa(./3( D,(G/A97.57(D,(JV(Oa0( >.9B7(3.D.S.575(G/( D,(,D-79(%EdI (G/-GSGI
DG,/ apW(N9(G/(56.88(/26S79( .97(6.G/D.G/73(G/( >.9B7(3.D.S.575(G/( L.DG7/D5(JGD-(,D-79( D,950
,C(L.DG7/D5(JGD-(G/A97I L.DG7/D5(97A7G@G/B(8,/BI L.DG7/D5(JGD-(,D-79( G662/,8,BGA(3G57.575(
67/D.8(S7/7YD50 D796(A,/DG/2,25(D-79.LN( G662/,8,BGA(3G57.575( G/3GA.D7(978.DG@7(5.C7DN0
Z2L(D,(Oa(6,[0 G/3GA.D7(5.C7DN0
$97B/./AN j ! j j j
A.D7B,9N
35;E#(c(3,2S87I5D9./373(;E#P(>d#(c(8N6L-,AND7(C2/ADG,/p.55,AG.D73(./DGB7/P(<F(c(628DGL87(5A879,5G5P($#F:IWQ(c(WQq(G6L9,@767/D(G/($5,9G.5G5(#97.(./3(F7@79GDN(
:/37MP($#F:I^W(c(^Wq(G6L9,@767/D(G/($5,9G.5G5(#97.(./3(F7@79GDN(:/37MP($$;(c(L29GY73(L9,D7G/(379G@.DG@7(Z,C(D2S79A28G/[P(%Ed(c(D26,9(/7A9,5G5(C.AD,90
!#?
3"#$%&"%"1' 0<+$+&"' %)' 2<+' $+6&%)4+$' 2<+
!"#$%&'()n #)"+2' %"' $#(:<,L' -#)2+63#$&)+#("' #$
+*+)' 3$+-+4+"' 2<+' 4+*+,#36+)2' #5' "A%)
$F=':#%:!
$%&'()C(S4H'CR'(C(% 4%"+&"+.C' !"#$%&2%-' &$2<$%2%"' %"1' %)2$%:(=
%):,L1'6#$+',%A+,L'2#';+'5#()4'%)'%)4%*%4=
#'%"':%:F
',S79D(HG/A-75D79
(&,"'0%2<'3"#$%&"%"' 0<#',&-A' /SN=T0H1
9"#$"'/1'-#)"%"2+)2'0%2<'"#6+':+)+2%-'<+2=
#%(#(1>#E!&(
+$#:+)+%2L.' I),%A+' 6#"2' &(2#%66()+
4%"+&"+"1' 3"#$%&2%-' &$2<$%2%"' 4#+"' )#2' &3=
;&d:E:%:=E(#E;(!>#FF:d:!#%:=E 3+&$' 2#' %)*#,*+' \' -+,,"' #$' &(2#&)2%;#4L
3$#4(-2%#)'#$';+'-$%2%-&,,L'4+3+)4+)2'#)
!"#$%&2%-' &$2<$%2%"' %"' &' -,%)%-&,,L' 4%"2%)-=
T@Q' >' -+,,"' &"' %"' %)4%-&2+4' ;L' 2<+' %)=
2%*+' &(2#%66()+' %)W&66&2%#)' #5' 2<+
-$+&"+'%)'3$+*&,+)-+'&)4'"+*+$%2L'#5'3"#=
6("-(,#"A+,+2&,' "L"2+6' 2<&2' #--($"' %)
$%&2%-' &$2<$%2%"' %)' 2<#"+' 0%2<' &4*&)-%):
3+$"#)"'0%2<' 3"#$%&"%"' #$'0%2<' &' "2$#): $5,9G.DGA(.9D-9GDG5(G5(.(676S79(,C(D-7(
&)4' 3##$,L' 2$+&2+4' <(6&)' %66()#4+U=
5&6%,L' <%"2#$L' #5' 3"#$%&"%".' ><+' %)W&6= 579,/7B.DG@7(5L,/3N8,.9D-9GDG5(B9,2L(,C(
-%+)-L' *%$("=8' B/Ga=8E' %)5+-2%#)1' 0<+$+
6&2%#)' ()4+$,L%):' 3"#$%&2%-' &$2<$%2%"' %" 3G5,93795(./3(.CC7AD5(D-977(L9G/AGL.8(D.9I
"3+-%&,'-#)-+$)"'+K%"2'&;#(2'%2"'2<+$&3L.'
&33&$+)2,L'4$%*+)';L'T@9'>'-+,,"'&)4'%" B7D(5GD75K(D-7(7/D-7575T(D-7(5N/,@G26T(
><+'$&3%4'4+*+,#36+)2'#5' 3#2+)2')+0
;&"+4'#)'2<+'+)2$&)-+'&)4'&-2%*&2%#)'#5 ./3(D-7(5LG/7(./3(5.A9,G8G.A(4,G/D50
3<&$6&-#,#:%-'&:+)2"'&)4'%63$#*+4'$+:%=
>'-+,,"'%)'2<$++'2&$:+2'"%2+"V'2<+'+)2<+"+" =AA295(G/()Q(L79A7/D(D,()W(L79A7/D(,C(
6+)"' 5#$' 2<+%$' ("+' <&"' "(;"2&)2%*+,L' %6=
BU;$#-&$2%,&:+' %)"+$2%#)"' #5' ,%:&6+)2"1 D-,57(JGD-(L5,9G.5G50(:/(,/7I-.8CT(L5,9G.I
3$#*+4'2<+'2$+&26+)2'#5'3"#$%&2%-'&$2<$%2%".
2+)4#)"1' &)4' 5&"-%&E1' 2<+' "L)#*%(6' #5 5G5(.LL7.95(./(.@79.B7(,C(.(37A.37(7.9I
><%"'%"'3&$2%-(,&$,L'2<+'-&"+'%)'6#$+'"+*+$+
3+$%3<+$&,'"L)#*%&,'b#%)2"1'&)4'2<+'"3%)+ 8G79(D-./(D-7(.9D-9GDG5P(G/(D-7(975D(.9D-9GDG5(G5(
5#$6"'#5'3"#$%&2%-'&$2<$%2%"'0<+$+'%)'*%+0
&)4' "&-$#%,%&-' b#%)2".' ><+' &-2%*&2+4' > 9,2B-8N(A,/D76L,9./7,25(,9(7@7/(L97I
#5'2<+'$#,+'#5'>'-+,,"'&)4'6&-$#3<&:+"'%)
-+,,' $+,+&"+"' -L2#A%)+"' &)4' -<+6#A%)+" A7375(D-7(5VG/(3G57.570
4%"+&"+' 3&2<#:+)+"%"1' )+0' %66()#;%#=
2<&2' 4%$+-2,L' &55+-2' 2&$:+2' 2%""(+"1' &-2%=
,#:%-"1'"(-<'&"'2(6#$')+-$#"%"'5&-2#$'B>gFE FD9,/B(B7/7DGA(L973G5L,5GDG,/K(525A7LDGI
*&2+'6&-$#3<&:+"'2#'"+-#)4&$%,L'$+,+&"+
;,#-A+$"1' #55+$' 2<+' 3#2+)2%&,' #5' 2&$:+2%): SG8GDN(.55,AG.D73(JGD-(">#I!J\(./3(,D-79(
&44%2%#)&,' -L2#A%)+"' &)4' -<+6#A%)+"
&)4' %)2+$4%-2%):' "3+-%U-' "2&:+"' #$' +*+)2" A8.55(:(6.4,9(-G5D,A,6L.DGSG8GDN(A,6L87M(
&)41' $+"(,2' %)' 2<+' $+-$(%26+)2' #5' &44%=
%)'2<+'6+-<&)%"6'#5'4%"+&"+1'&)4'%)4++4 .887875(G/A823G/B(">#IjO^(./3(">#IjRn0
2%#)&,'%)W&66&2#$L',+(A#-L2+".
&$+'*+$L'+55+-2%*+'4%"+&"+=6#4%5L%):'&)2%= %-7(L.D-,B7/75G5(.LL7.95(D,(G/@,8@7(.ADGI
_5'2<+'2<$++'2&$:+2'"%2+"1'2<+'%)W&66&=
$<+(6&2%-' 4$(:"' B@dNc@"E1' &2' ,+&"2' %) @.DG,/(,C(!;*(%(A7885T(J-GA-(9787.57(
2%#)'#5'2<+'+)2<+"+"1'+)2<+"%2%"18'&)4'2<+
"(;"+2"'#5'%)4%*%4(&,". G/_.66.D,9N(673G.D,95(D-.D(.CC7AD(D-7(
"3%)+1' "3#)4L,#&$2<$%2%"1' &$+' 4%"2%)-2%*+
5+&2($+"'#5'3"#$%&2%-'&$2<$%2%".'G)'-#)2$&"21 D.9B7D(DG552750
2<+' 4+*+,#36+)2' #5' &$2<$%2%"1' "L)#*%2%"1 !"#$%&'1)' %-7(6,5D(3G5DG/ADG@7(C7.D2975(,C(L5,9G.DGA(
#$' )#)="3+-%U-' 6("-(,#"A+,+2&,' "L63= 9#")(-+;#=%&$#(#="$%Q*";S.*+%-:% .9D-9GDG5(.97(3G5D.8(G/D79L-.8./B7.8(4,G/D(
2#6"'%)'&'3+$"#)'0%2<'3"#$%&"%"'4#+"')#21 ,+-.#";#=%/.;'.#;#+ .9D-9GDG5T(3.ADN8GDG5T(7/D-75GDG5T(L79G,5D7.8(
3+$'"+1'6&A+'2<+'4%&:)#"%"'#5'3"#$%&2%-'&$= v !-.9.AD79G5DGA(C7.D2975 /7J(S,/7(C,96.DG,/T(./3(.5N667D9GA(,8GI
2<$%2%"'&)4'$+R(%$+"'+K-,("%#)'#5'2<+'-#%)= v $5,9G.5G5(L9757/D B,.9D-9GDG5(./3(5L,/3N8GDG50
-%4+)2'#--($$+)-+'#5'3"#$%&"%"'0%2<'#2<+$ v &/D-75GDG5 #(57@797(5N/39,67(JGD-(C7.D2975(,C(L5,9GI
%)W&66&2#$L'&$2<$%2%4+"'#$'6("-(,#"A+,= v ;.ADN8GDG5 .5G5T(L5,9G.DGA(.9D-9GDG5T(./3(97.ADG@7(
+2&,' -#)4%2%#)"' "(-<' &"' U;$#6L&,:%&1' "+= v =/NA-,3N5D9,L-N .9D-9GDG5(6.N(,AA29(JGD-(.3@./A73(C286GI
$#)+:&2%*+' #$' "+$#3#"%2%*+' $<+(6&2#%4 v ;G5D.8(G/D79L-.8./B7.8(4,G/D(G/@,8@767/D /./D(2/D97.D73(-26./(G662/,37YAG7/AN(
&$2<$%2%"1'SL6+'4%"+&"+1'$+3+2%2%*+'6#2%#) v +2MD.I.9DGA28.9(/7J(S,/7(C,96.DG,/ @G925I)(G/C7ADG,/0
%)b($%+"1' #$' #"2+#&$2<$%2%".' N,2<#(:<' 2<+ v F.A9,G8GGDG5(./3i,9(5L,/3N8,.9D-9GDG5 %-79.LN(G5(37D796G/73(SN(D-7(S.8./A7(,C(
,&$:+'6&b#$%2L'#5'-&"+"'#5'3"#$%&2%-'&$2<$%= v :5,8.D73(G/@,8@767/D(,C(D-7(4,G/D5(,C(,/7( D-7(57@79GDN(,C(D-7(5VG/(./3(625A28,5V78I
2%"'&$+'$+&4%,L'%4+)2%U+41'3$+-%"+'&)4'"+)=
9.N(Z70B0T(3G5D.8(G/D79L-.8./B7.8T(L9,MG6.8( 7D.8(3G57.570(E,/5D79,G3.8(./DGIG/_.66.I
"%2%*+' 4%&:)#"2%-' -$%2+$%&' 5#$' 3"#$%&2%-' &$=
G/D79L-.8./B7.8T(6,/,AND7(A-76,D.ADGA( D,9N(392B5(.97(D-7(6.G/5D.N(,C(D-79.LN(G/(
2<$%2%"' &$+' )#2' L+2' 5(,,L' 4+*+,#3+4' &)4 L9,D7G/[ A,/A79D(JGD-(L-N5GA.8(D-79.LNP(67D-,D97MI
*&,%4&2+41' 0<%-<' -#63,%-&2+"' 2<+' "2(4L
v :/5G3G,25(.LL7.9./A7(,C(./VN8,573(4,G/D5( .D7(G5(252.88N(D-7(G/GDG.8(A-,GA7(C,9(6,97(
#5'2<+'4%"+&"+.'><+'-$%2+$%&'5#$'-&"+'-,&""%=
Z70B0T(-.882M(9GBG325[ 57@797(G/@,8@767/D0(:/(D-7(7@7/D(,C(C.G8I
U-&2%#)' 5#$' "2(4L' 3($3#"+"' &,"#' &$+' %6=
v F2LL,9DG/B(C7.D2975 297T(.(B9,JG/B(/26S79(,C(57A,/3I8G/7(
3$#*%):. >&;,+' 8D=8' "(66&$%X+"' "#6+
v :/(D-7(.S57/A7(,C(3,A267/D73(L5,9G.5G5T( 3G57.57I6,3GCNG/B(.B7/D5(.97(,CD7/(7CC7AI
4%"2%):(%"<%):'5+&2($+"'#5'3"#$%&2%-'&$2<$%=
.(A,/@G/AG/B(-G5D,9N(,C(L5,9G.5G5(./3i,9(.( DG@7T(S2D(JGD-(./(.DD7/3./D(G/A97.573(9G5V(
2%"'2<&2'&$+'("+5(,'5#$'%2"'4%&:)#"%".'><+"+
C.6G8N(-G5D,9N(L,5GDG@7(C,9(L5,9G.5G5 ,C(2/D,J.93(7CC7AD50
4%"2%):(%"<%):' 5+&2($+"' $+W+-2' %)-$+&"+4
v $79GL-79.8(.9D-9GDG5T(,CD7/(.5N667D9GA.8(
+63<&"%"' #)' 2<+' 3$+"+)-+' #5' +)2<+"%2%"
,9(,8GB,.9DGA28.9(.D(,/57D
&)4' "3#)4L,#&$2<$%2%"' &"' "3+-%U-' +,+= !"#$%&2%-'&$2<$%2%"'%"'-,&""%U+4'&"'#)+'#5
v &MA825G,/5
6+)2"'#5'3"#$%&2%-'&$2<$%2%". 2<+'"+$#)+:&2%*+'"3#)4L,#&$2<$%2%"':$#(3
v dGS9,6N.8BG.
!"#$%&2%-'&$2<$%2%"'4+*+,#3"'%)'&33$#K%= #5'4%"#$4+$"'2<&2'&,"#'%)-,(4+"'&)AL,#"%):
v F79,/7B.DG@7(,9(579,L,5GDG@7(9-726.D,G3(
6&2+,L'87'3+$-+)2'2#'8M'3+$-+)2'#5'2<#"+ "3#)4L,%2%"1' ()4%55+$+)2%&2+4' "3#)4L,%2%"1
.9D-9GDG5
0%2<'3"#$%&"%".'G)'&33$#K%6&2+,L'#)+=<&,5 c+%2+$' "L)4$#6+1' $+&-2%*+' &$2<$%2%"1' &)4
#5'2<#"+'&55+-2+4'0%2<'3"#$%&2%-'&$2<$%2%"1 v :/D79A2997/D(.9D-9GDG375(Z70B0T(>N67(3G57.57[
+)2+$#3&2<%-'&$2<$%2%".'><+'2+$6'"*$#1*0&>
2<+'6("-(,#"A+,+2&,'%)*#,*+6+)2'&33+&$" v '7L7DGDG@7(6,DG,/pG/32A73(625A28,5V78I +%2*' $+5+$"' 2#' 2<+' &;"+)-+' #5' $<+(6&2#%4
&)'&*+$&:+'#5'&'4+-&4+'&52+$'2<+'#)"+2'#5 7D.8(5N/39,675 5&-2#$' #$' #2<+$' &(2#&)2%;#4%+"1' &)4' 2<+
!#L
&;"+)-+'#5'2<+"+'&(2#&)2%;#4%+"'%"'#)+'#5 -#6+' ,+""' &33&$+)2.' F#$' 2<+"+' $+&"#)"1
2<+'+""+)2%&,',&;#$&2#$L'5+&2($+"'#5'3"#$%= 0%2<' 2<+' +K-+32%#)' #5' 2<+' -<&$&-2+$%"2%-
&2%-' &$2<$%2%".' ><+' "+$#)+:&2%*+' "3#)4L= @G!' &$2<$%2%"' #$' "3#)4L,#&$2<$%2%"1' ,+""
,#&$2<$%2%"'4%"#$4+$"'"<&$+'%)*#,*+6+)2'#5 +63<&"%"' %"' )#0' ;+%):' 3,&-+4' #)' 2<+
2<+' "3%)+' B"3#)4L,#E1' "&-$#%,%&-' b#%)2"1 #2<+$' 3&22+$)"' #5' &$2<$%2%"' 5#$' 4%&:)#"%"1
&)4'"#6+'4+:$++'#5':+)+2%-'"("-+32%;%,%2L #2<+$'2<&)'-,&""%5L%):'2<+'&$2<$%2%"'&"'&K=
&""#-%&2+4' 0%2<' /SN=\CZ.' G)' &44%2%#)1 %&,'#$'3+$%3<+$&,.
+&-<'#5'2<+'+)2%2%+"'%)'2<+'"3#)4L,#&$2<$%=
2%"' :$#(3' #5' 4%"#$4+$"' <&"' 2<+' "%):(,&$,L
4%"2%)-2%*+'5+&2($+'#5'+)2<+"%2%"'2<&2'6&L ":F%=':!#>(#F$&!%F
+%2<+$' %)*#,*+' 3+$%3<+$&,' b#%)2"' #$' 2<+ 5789:-4!#<! $5,9G.DGA(.9D-9GDG50(FD9GVG/B(4,G/D ><+'$+-+)2'%4+)2%U-&2%#)'#5'3"#$%&2%-'&$=
"3%)+.' ><%"' $+"(,2"' %)' 2+)4%)%2%"1' 5&"-%%2%"1 2<$%2%"'%)'"A+,+2&,'$+6&%)"'#5'%)4%*%4(&,"
5J788G/B( ,C( D-7( 3G5D.8( G/D79L-.8./B7.8( 4,G/D5( JGD-
&)4'"#6+'#5'2<+'4++3'%)W&66&2#$L';&-A 0<#' "#(:<2' $+5(:+' %)' &)-%+)2' d%44,+
.55,AG.D73(L5,9G.5G5(,C(D-7(5VG/(./3(L5,9G.DGA(/.G8
3&%)' #5' "3#)4L,#&$2<$%2%".' T#66#)' 2# ?&"2+$)' \LX&)2%)+' 6#)&"2+$%+"' %)' \%;,%=
2<+' "3#)4L,#&$2<$%2%"' :$#(3' #5' 4%"#$4+$" G/@,8@767/D( 97_7ADG/B( .A9.8( G/_.66.D,9N( G/I -&,' 2%6+"' "(::+"2"' 2<&2' 3"#$%&"%"' 0%2<
%"' b(K2&=&$2%-(,&$' )+0' ;#)+' 5#$6&2%#)1 @,8@767/D0 3"#$%&2%-' &$2<$%2%"' 0&"' #)+'#5' 2<+' 5#$6"
0<%-<'$+"(,2"'5$#6'2<+'-L2#A%)+=%)4(-+4 #5' ;%;,%-&,' ,+3$#"L1' &22+"2%):' 2#' 2<+' "+=
&-2%*&2%#)'&)4'6#4(,&2%#)'#5'6+"+)-<L= 5#$' 2<+' 4%&:)#"%"' #5' 3"#$%&2%-' &$2<$%2%" *+$+' &)4' &)-%+)2' )&2($+' #5' 2<%"' -#)4%=
6&,' #$' 3+$%#"2+&,' -+,,"' 2#' &)' #"2+#:+)%- &)4' &' <%"2#$L' #5' 3$%#$' 3"#$%&"%5#$6' ,+= 2%#).' ><+' &""#-%&2%#)' #5' &$2<$%2%"' 0%2<
3$#:$&6.'G2'%"'2L3%-&,,L'5#()4'&$#()4'2<+ "%#)"'#$'&'5&6%,L'<%"2#$L'#5'3"#$%&"%"'"(5= 3"#$%&"%"'0&"'U$"2'5#$6&,,L'4+"-$%;+4'%)
+)2<+"+"' &)4' &--#()2"' 5#$' ;#)+' "3($". U-+"'B"++'>&;,+'8D=8E.'?K-+32'5#$'2<+'&;= 8989';L'N,%;+$2'&)4'0&"'4+"%:)&2+4'!"#>
!+$<&3"'$+,&2+4'2#'2<%"'3&22+$)'#5'6+"+)= "+)-+' #5' 3"#$%&"%"1' "#6+' -&"+"' #5' 2<+ $%&"%"' &$+5$%+%I(*' ;L' \&X%)' %)' 89H7.' ><+
-<L6&,' -+,,' &-2%*&2%#)' %"' 2<+'-<&$&-2+$%"= "3#)4L,#&$2<$%2%"' 4%"#$4+$' ()4%55+$+)2%= )#2%#)' #5' &' 4%"2%)-2%*+' &$2<$%2%"' &""#-%=
2%-' 4+*+,#36+)2' #5' b#%)2' U;$#"%"' &)4 &2+4' "3#)4L,%2%"' &$+' %)4%"2%):(%"<&;,+ &2+4' 0%2<' 3"#$%&"%"' ;+-&6+' 0%4+,L' &-=
&)AL,#"%"'B"++'>&;,+'8D=8E. 5$#6' 2<+' b#%)2' %)*#,*+6+)2' #5' 3"#$%&2%- -+32+41' ;(2' %)' 2<+' 4+-&4+"' &52+$' O#$,4
J#6+'-,%)%-&,'&)4'3&2<#:+)%-'5+&2($+" &$2<$%2%"' &)4' 2<%"' <&"' "#6+2%6+"' ;++) O&$' GG' 3"#$%&2%-' &$2<$%2%"' 0&"' :$#(3+4
#5'3"#$%&2%-'&$2<$%2%"'&$+'"%6%,&$'2#'2<#"+ 2+$6+4 !"#$%&+%)'&$+5$%+%"'"%1*'!"#$%&"%". 0%2<'$<+(6&2#%4'&$2<$%2%"'&"'&'[$<+(6&=
#5' c+%2+$' "L)4$#6+' &)4' $+&-2%*+' &$2<$%= G)' 3"#$%&2%-' &$2<$%2%"1' 2<+' 3+$%3<+$&, 2#%4' *&$%&)2^' #$' [$<+(6&2#%4' "3#)4L,%=
2%".'G)'2<+'"+22%):'#5'&4*&)-%):'/Ga=8'%)= b#%)2"' &$+' %)*#,*+4' %)' &' *&$%+2L' #5' 3&2= 2%".^'J(;"+R(+)2,L1'2<+'4%"2%)-2')&2($+'#5
5+-2%#)1' 2<+' &$2<$#-(2&)+#("' "L)4$#6+ 2+$)"'#5'&$2<$%2%-'%)*#,*+6+)2'&2'3$+"+)= 3"#$%&2%-' &$2<$%2%"' 0&"' &:&%)' +63<&=
2<&2'6&L'4+*+,#3'#52+)'<&"'-#)"%4+$&;,+ 2&2%#)1'#52+)'&55+-2%):'#),L'#)+'#$'&'5+0 "%X+41' ("%):' &"' -$%2+$%&' 2<+' -,%)%-&,' 3&2=
-,%)%-&,' #*+$,&3' %)' ;#2<' 2<+' "A%)' &)4 b#%)2"' %)' &)' &"L66+2$%-' 6&))+$' B>&;,+ 2+$)' #5' b#%)2"' &55+-2+41' "3#)4L,%2%"1' &)4
6("-(,#"A+,+2&,'U)4%):"'#5'3"#$%&2%-'&$= 8D=CE.'><+"+'3&22+$)"'&$+'"#6+2%6+"'("+= 2<+' &;"+)-+' #5' $<+(6&2#%4' 5&-2#$.' ><+
2<$%2%"'&)4'c+%2+$'"L)4$#6+.' 5(,' 4%&:)#"2%-&,,L' &"' #$%:%)&,,L' +63<&= #;"+$*&2%#)'#5'&)'+,+*&2+4'5$+R(+)-L'#5
!"#$%&2%-'&$2<$%2%"'%"'4%"2%):(%"<+4'5$#6 "%X+4';L'd#,,'&)4'O$%:<2'%)'2<+%$'-,&""%- /SN=\CZ'3$#*%4+4'&'"2$#):'%66()#:+=
&)AL,#"%):' "3#)4L,%2%"' ;L' 2<+' -#)U)+= 3&3+$'#)'3&22+$)"'#5'b#%)2'%)*#,*+6+)2.P )+2%-';&"%"'5#$'2<+'+)2%2L.'><+'-+)2$&,'%6=
6+)2'#5'"3%)&,'%)*#,*+6+)2'2#'&'5+0'*+$= F#$'+K&63,+1'@G!'&$2<$%2%"'%)'&)'%)4%*%4= 3#$2&)-+' #5' +)2<+"%2%"' <&"' ;++)' $+-#:=
2+;$&+' &)4' 5$#6' &,,' 2<+' #2<+$' "3#)4L= (&,' 0%2<' 3"#$%&"%"' %66+4%&2+,L' "(::+"2" )%X+41' &,#):' 0%2<' 2<+' 4+*+,#36+)2' #5
,#&$2<$%2%4+"' ;L' 2<+' 3$+4#6%)&)-+' #5 2<+' 4%&:)#"%"' #5' 3"#$%&2%-' &$2<$%2%"' &)4 6#$+'3$+*&,+)2'&)4'%)2+)"+'4%"+&"+'0%2<
6#$+'4%"2&,'3+$%3<+$&,'b#%)2'%)*#,*+6+)2. +""+)2%&,,L'$+R(%$+"'#),L'2<+'+K-,("%#)'#5 &4*&)-%):'/Ga'%)5+-2%#).'
N' 4%"2%)-2%*+' &)4' 4%&:)#"2%-&,,L' "3+-%U- #"2+#&$2<$%2%"1'2<+'#2<+$'+)2%2L'2<&2'-#6=
5+&2($+' #5' 3"#$%&2%-' &$2<$%2%"' %"' &-$&,' %)= 6#),L'&55+-2"'2<+'@G!'b#%)2.'/#0+*+$1'%2
W&66&2#$L'%)*#,*+6+)2'#5'2<+'"A%)1')&%, %"' )#0' $+-#:)%X+4' 2<&2' "#6+' #5' 2<+"+ &$:;&<:=>=1?
6&2$%K1' 3+$%#"2+(61' +)2<("+"1' &)4' "L= 3&22+$)"'#5'&$2<$%2%"'#)"+2'&$+')+%2<+$'"2&= @+"3%2+'2<+' 3$#;,+6"'%)'4%&:)#"2%-' &)4
)#*%(6' #5' #)+' #$' 6#$+' 4%:%2"' 0%2<' 2<+ ;,+' )#$' <%:<,L' "3+-%U-' 5#$' 3"#$%&2%-' &$= -,&""%U-&2%#)' -$%2+$%&' #5' 3"#$%&2%-' &$2<$%=
-#63,+K' #5' #)L-<#4L"2$#3<L1' 3+$%()= 2<$%2%".'_*+$'2%6+'0%2<'2<+'&--(6(,&2%*+ 2%"1'-#)"%4+$%):'2<+'5$+R(+)-L'#5'3"#$%&=
:(&,'+$L2<$#4+$6%&1'&)4'4%"2&,'%)2+$3<&= %)*#,*+6+)2' #5' 4%55+$+)2' 3+$%3<+$&, "%"' 2#' ;+' ;+20++)' 8' 3+$-+)2' &)4' P' 3+$=
,&):+&,'b#%)2'B@G!E'%)*#,*+6+)2'BF%:.'8D=8i b#%)2"' ;L' 2<+' 4%"+&"+1' 2<+' &"L66+2$%- -+)21' &)4' ("%):' 2<+' 87' 3+$-+)2' 2#' 8M
"++ >&;,+' 8D=8E.' @&-2L,%2%"1' "#6+2%6+" 5+&2($+"' #5' 3"#$%&2%-' &$2<$%2%"' #52+)' ;+= 3+$-+)2'*&,(+'5#$'2<+'3$+*&,+)-+'#5'3"#=
:$&3<%-&,,L' 2+$6+4' "&("&0*' 7%0%+"1' %"' & $%&2%-' &$2<$%2%"' %)' 2<#"+' 0%2<' 3"#$%&"%"1
-<&$&-2+$%"2%-' %)W&66&2%#)' #5' #)+' #$ !"#$%&'1), 2<+' 3$+*&,+)-+' #5' 3"#$%&2%-' &$2<$%2%"' %)
6#$+' 4%:%2"' 0%2<' &' <%:<' "3+-%U-%2L' 5#$ ,";;*.(+%-:%,+-.#";#=%/.;'.#;#+% 2<+' 4%55+$+)2' 3#3(,&2%#)"' 0#(,4' ;+' +K=
3"#$%&2%-' &$2<$%2%"' -<&$&-2+$%X+4' ;L' %)= V-#(;%0(W-$W*>*(; 3+-2+4' 2#' $&):+' 5$#6' 7.87' 3+$-+)2' 2#
W&66&2#$L' +4+6&' #5' 2<+' +)2%$+' 4%:%2 v #5N667D9GA(,9(5N667D9GA(L79GL-79.8( 7.QM' 3+$-+)21' &' *&,(+' &33$#&-<%):' <&,5
4(+' 2#' +K2+)"%*+' +)2<+"%2%"1' @G!' &)4 4,G/D(G/@,8@767/D 2<&2' #5' 2<+' 3$+*&,+)-+' #5' "+$#3#"%2%*+
3$#K%6&,'%)2+$3<&,&):+&,'"L)#*%2%"1'2+)#= v ;G5D.8(G/D79L-.8./B7.8(4,G/D(G/@,8@767/D $<+(6&2#%4' &$2<$%2%"' &)4' %)' &:$++6+)2
"L)#*%2%"' #52+)' 5#-("+4' #)' W+K#$' 2+)= v F6.88(4,G/D5(,C(-./35(./3(C77D( 0%2<' $+-+)2' 3$+*&,+)-+' "2(4%+".Q1M' c+=
4#)"1'&)4'3+$%#"2+%2%".'J%6%,&$'2#'2<+'&-$&, v >.9B7(4,G/D5 3#$2"' #5' 6(-<' <%:<+$' 3$+*&,+)-+' %)
4L"2$#3<L1' 4&-2L,%2%"' %"' &,"#' &' 4%&:)#"2%- v #MG.8(3G57.57 "#6+' "+$%+"' &"-+$2&%)+4' -,%)%-&,,L' #$' ;L
5+&2($+'#5'3"#$%&2%-'&$2<$%2%".' v FL,/3N8,.9D-9GDG5(JGD-(@79D7S9.8(5U2.9G/B( )+0+$'%6&:%):'6#4&,%2%+"1'"(-<'&"'6&:=
><+' $+,&2%#)"<%3' 2#' 2<+' 3$+"+)-+' #5 .CC7ADG/B(,/7(,9(.(C7J(@79D7S9.7T(,CD7/( )+2%-'$+"#)&)-+'%6&:%):'BdcGE1'6&L'$+=
3"#$%&"%"'%"'#5'-#($"+'&'<&,,6&$A'#5'3"#= .5N667D9GA.88N W+-2'2<+'&;"+)-+'#5'"3+-%U-'#$'5(,,L'4+=
$%&2%-'&$2<$%2%".'/#0+*+$1'2<+'3$+"+)-+'#5 v F.A9,G8GGDG5 *+,#3+4' -$%2+$%&' 5#$' +K-,(4%):' #2<+$
3"#$%&"%"'%"')#2'&)'&;"#,(2+'$+R(%$+6+)2 5#$6"'#5'-#66#)'b#%)2'#$'6("-(,#"A+,=
!#O
+2&,'4%"+&"+"1'&)4'#)+'"<#(,4'&0&%2'2<+%$ &9O%6%=*$$
5(,,'*&,%4&2%#).'
6".)*;%
$#%"=1&E&F:F(#E;($#%"=>=1? Z-#(;%;#++S*+
6&?
>0#',%)+"'#5'+*%4+)-+'"2$#):,L'%63,%-&2+ 2*$:G"(;#)*(#=%<*<;#T*
,L63<#-L2+"'%)'2<+'3&2<#:+)+"%"'#5'3"#= 5B&%=$"++%0%>-$*=S$*
$%&2%-' &$2<$%2%"V' 2<+' 3$+"+)-+' &)4' &-2%=
*&2+4'"2&2+'#5';#2<'T@9'>'-+,,"'&)4')&2=
($&,'A%,,+$'BgkE'-+,,"'%)',+"%#)&,'"%2+"'&)4
2<+'$+"3#)"+'#5'2<+'4%"+&"+'2#'%66()#= &-)(#;#W*
6#4(,&2#$L' 2<+$&3L' 4%$+-2+4' &2' 2<+"+ .*=-)(#;#-(
-+,,"' #$' 3&2<0&L"' 2$%::+$+4' ;L' 2<+6.
><+'%)W&66&2#$L'%)U,2$&2+'%)'2<+'"L)#=
*%2%"' #5' 5(,,L' 4+*+,#3+4' 3"#$%&2%-' &$2<$%=
2%"' <&"' ;++)'0+,,'"2(4%+4';+-&("+'#5'%2" &9O%6G=*$$%"=;#W";#-(%"(T%=$-("$%*]<"(+#-(
&--+""%;%,%2L' &)4' -#)2&%)"' &' "6&,,' )(6=
;+$' #5' *+$L' ,&$:+' T@9' >=-+,,' -,#)&,' +K=
3&)"%#)".H1Z' ><+' >=-+,,' $+-+32#$"' #5 0Q!G /()#-)*(*+#+ &9\%"(T%&9O
2<+"+' -,#)+"' #52+)' &33+&$' "2$(-2($&,,L 6G=*$$%.*=.S#;>*(;
$+,&2+4' &)4' 6&)%5+"2' 2<+' "&6+' T@cP
,+):2<' &)4' 2<+' "&6+' #$' <#6#,#:#("
T@cP' &6%)#' &-%4' "+R(+)-+"1' "2$(-2($&,
5"=.-<'")* 5*+*(='D>"$%<.-$#:*.";#-(%"(T%
5+&2($+"' 2<&2' "2$#):,L' %63,L' 2<+' -,#)+" "=;#W";#-( %"$;*.";#-(%#(%)*(*%*]<.*++#-(
&$+'4$%*+)';L'&)'&)2%:+)1'2<+'%4+)2%2L'#5 6!QG
0<%-<' $+6&%)"' ()A)#0).' ><+' T@9' >= 6!QG
-+,,' -,#)+"' %)' 2<+' "L)#*%&,' 2%""(+' &)4
,*.#-+;*"$%(*[ 0(:$">>";#-(X
W(%4' &$+' 4+$%*+4' 5$#6' -,#)&,' 3$+-($"#$
U-(*%:-.>";#-( T*+;.S=;#-(X%Y%:#U.-+#+
3##,"' 2<&2' &$+' &,"#' <%:<,L' +K3&)4+4' %)
;,##4'Bs'C7'-+,,'4%*%"%#)"E.'><+%$'&-2%*&= 5789:-4!#<I #(5A-767(C,9(L.D-,B7/75G5(,C(G/_.66.DG,/(./3(DG5527(375D92ADG,/(5266.9GXG/B(D-7
2%#)'%)'2<+'2%""(+'%"'3$+"(6&;,L'2<+';&"%"
67A-./G565(,C(G/_.66.DG,/(G/(L5,9G.DGA(.9D-9GDG50(%-7(L9,A755(G5(39G@7/(SN(A,B/GDG@7(97A,B/GDG,/(,C(.(578CI
#5' 2<+' &$2<$%2%"' &)4' +)2<+"%2%"' 2<$#(:<
L7LDG37(L9757/D73(D,(.(!;*(%(A788(SN(.(6.4,9(-G5D,A,6L.DGSG8GDN(A,6L87M(Z<"![(A8.55(:(6,87A287(,/(.(4,G/D
2<+'$+,+&"+'#5'-<+6#A%)+"'&)4'-L2#A%)+"
&"'%,,("2$&2+4';L'2<+'<L3#2<+2%-&,'"-<+6+ A7880(%-7(7/52G/B(%IA788(.ADG@.DG,/(./3(A8,/.8(7ML./5G,/(G/GDG.D75(/,/I./DGB7/p5L7AGYA(97A92GD67/D(,C(!;a
%) F%:.'8D=C.'><+%$'3<+)#2L3+'%"'3$+4#6= ./3(!;*(%(A7885T(./BG,B7/75G5T(./3(6,/,AND7(97A92GD67/D(SN(D-7(9787.57(,C(AND,VG/75(./3(A-76,VG/750
%)&)2,L'2<&2'#5'6+6#$L'+55+-2#$'T@9'> #ADG@.DG,/( ,C( 6.A9,L-.B75( ,AA295(D-9,2B-(AND,VG/75(52A-( .5( G/D79C79,/( Z:dE[I 0(%-7( .ADG@.D73( 6.A9,I
-+,,"' 2<&2' <&*+' ,#"2' 2<+' -#="2%6(,&2#$L L-.B75(9787.57(AND,VG/75(52A-(.5(D26,9(/7A9,5G5(C.AD,9(Z%Ed[I T(G/D79872VG/I)T(./3(G/D79872VG/I\0(%-757
T@C9' 6#,+-(,+1' ;(2' :&%)+4' *&$%#("' $+= L9,32AD5(.8D79(L.DD79/5(,C(B7/7(7ML9755G,/(G/(A7885(A,6L9G5G/B(D-7(4,G/D(./3(978.D73(5D92AD2975T(97528DG/B(G/
-+32#$"' 2<&2' &$+' 2L3%-&,,L' +K3$+""+4' #)1 G/_.66.DG,/T(YS9,5G5T(/7J(S,/7(C,96.DG,/T(79,5G,/5T(./3(,5D7,8N5G50(%!'(c(%IA788(97A7LD,90
&)4'$+:(,&2+'2<+'&-2%*&2%#)'#51'gk'-+,,".
><+' "L)#*%(6' %)' &-2%*+' 3"#$%&2%-' &$= &$2<$%2%"'"L)#*%(6'<&"' ,+""'%)2+$5+$#)= ><+"+' -<&):+"' &$+' ,%A+,L' 2#' $+W+-2' "3+=
2<$%2%"'&,"#'-#)2&%)"'&'3$+3#)4+$&)2'%)U,= &)4'GS=8.9`87'G)U,2$&2%):'>'-+,,"'+,&;#$&2+ -%U-'-L2#A%)+'3$#U,+"'&(:6+)2+4'%)'2<+
2$&2+'#5' 3#,L-,#)&,1' )#)=&)2%:+)`"3+-%U- -<+6#A%)+"1' %)-,(4%):' cNg>?J' B$+:(= 3"#$%&2%-'3&2%+)2.'><+'4+"2$(-2%#)'#5'-&$=
T@Q'>'-+,,"1'&"'"<#0)';L'&)&,L"%"'#5'2<+ ,&2+4' #)' &-2%*&2%#)1' )#$6&,' >' -+,,' +K= 2%,&:+'4%55+$"'5$#6'2<&2'"++)'%)'$<+(6&=
>=-+,,'$+3+$2#%$+.H1Z'><+"+'&33+&$'2#'&$%"+ 3$+""+4' &)4' "+-$+2+4E.' ><+' -<+6#A%)+ 2#%4'&$2<$%2%"';L'6%)%6&,,L'+,+*&2+4',+*=
*%&' &' -<+6#A%)+=6+4%&2+4' $+-$(%26+)2 GS=9' %"' +K3$+""+4' &2' &' <%:<' ,+*+,' ;L' 2<+ +,"' #5' &::$+-&)' &)4' :$+&2,L' %)-$+&"+4
#5' )#)=&)2%:+)' "3+-%U-' >' -+,,".' _2<+$ "L)#*%&,' ,%)%):' -+,,"' &)4' 2#' &' ,+""+$' +K= -#)-+)2$&2%#)"' #5' -&$2%,&:+' #,%:#6+$%-
2L3+"' #5' ;L"2&)4+$' 2L3+' -,#)&,' +K3&)= 2+)2' %)' -+,,"' ,#-&2+4' %)' 2<+' 3+$%*&"-(,&$ 6&2$%K'3$#2+%).88
"%#)"'&$+'&,"#'5#()4'%)'2<+'b#%)2'W(%4'&)4 &$+&"' &)4' ,%A+,L' 6+4%&2+"' &22$&-2%#)' #5 ><+'$#,+'#5'4+)4$%2%-'-+,,"'%)'2<+'%)%2%&=
"L)#*%(61' 0<%-<' &33+&$' 2#' ;+' 4%$+-2+4 )+(2$#3<%,"' 2#' 2<+' b#%)2' W(%41' &' -<&$&-= 2%#)' #5' 2<+' %)W&66&2%#)' <&"' )#2' ;++)
2#'4%*+$"+'*%$&,'&)4'#2<+$'&)2%:+)"'()$+= 2+$%"2%-' 5+&2($+' #5' 3"#$%&2%-' &$2<$%2%". 0+,,'4+,%)+&2+4.'><+"+'&$+'2<+',%A+,L'-&)=
,&2+4'2#'2<+'3$+"(6+4'&(2#&)2%:+)"'4$%*= S%)%):' -+,,"' &,"#' +,&;#$&2+' 2<+' -<+6#= 4%4&2+' -+,,"' 2#' 6+4%&2+' 2<+' $+"3#)"+' 2#
%):'2<+'b#%)2'4%"+&"+.'><+"+'&$+'3$+"(6= A%)+' 6#)#-L2+' -<+6#2&-2%-' 3$#2+%)' 8 3<L"%-&,' "2$+""1' 6%-$#;%&,' %)5+-2%#)1' -L2#=
&;,L' &22$&-2+4' 2#' 2<+' %)W&66&2#$L BTTSCE1' &' -<+6#2&-2%-' 5&-2#$' 2<&2' &2= A%)+"' %)-,(4%):' %)2+$5+$#)= 1' &)4' #2<+$
6%,%+('&)4';L'2<+%$'&-2%*&2%#)'%)'2<+'2%"= 2$&-2"' &)4' &-2%*&2+"' 6#)#-L2+"' ;(2' )#2 4&):+$'"%:)&,"'2<&2'-&)'%)%2%&2+'2<+'3$#-+""
"(+' 6&L' "+-#)4&$%,L' -#)2$%;(2+' 2#' 2<+ )+(2$#3<%,".' d&-$#3<&:+"' %)' 2<+' ,%)%): #5'&$2<$%2%"'%)'3$+4%"3#"+4'%)4%*%4(&,".
%)2+)"%U-&2%#)'#5'&$2<$%2%". 3$#4(-+' -<+6#A%)+"' "(-<' &"' Yc_= ><+#$+2%-' "-+)&$%#"' 2#' +K3,&%)' 2<+' %6=
TL2#A%)+"' 2<&2' <&*+' ;++)' %63,%-&2+4 B:$#02<=$+:(,&2+4' 3$#2+%)' ' 3$+-($"#$1 6()+' 4$%*+' ()4+$,L%):' %)W&66&2%#)V
%)' 2<+' 3&2<#:+)%-' 3$#-+""' #5' 3"#$%&2%- TnTS8E1' 0<%-<' &,"#' <&"' -<+6#2&-2%- ><+' )&2($+' #5' 2<+' %66()#,#:%-' $+-#:)%=
&$2<$%2%"' %)-,(4+' 6&-$#3<&:+=4+$%*+4 &-2%*%2L'5#$')+(2$#3<%,".'a&"-(,&$'&;)#$= 2%#)' +*+)2"' $+"3#)"%;,+' 5#$' 2<+' T@9
>gF= 1' %)2+$,+(A%)' BGSE=H1' GS=8 1' &)4 6&,%2%+"' &$+' 3$#6%)+)2' %)' 2<+' 3"#$%&2%- -,#)&,'+K3&)"%#)'$+6&%)"'-#63,+2+,L'()=
,L63<#-L2+=4+$%*+4' GS=C' &)4' %)2+$= "L)#*%(6' ;#2<' &2' 2<+' :$#""' ,+*+,' &)4 A)#0).'>0#'3#2+)2%&,'"-+)&$%#"'-#(,4'&-=
5+$#)= 1' &,2<#(:<' -#63&$+4' 0%2<' $<+(= %66()#3&2<#,#:%-&,,L' 0%2<' &' 2$&)"5#$= -#()2' 5#$' 2<+' %66()+' 4$%*+' %)' 3"#$%&2%-
6&2#%4'&$2<$%2%"'"L)#*%(61'2<+'3"#$%&2%- 6&2%#)' 2#' &)' &-2%*&2+4' +)4#2<+,%(6. &$2<$%2%"';+-&("+'2<+L'+&-<'%,,(6%)&2+'4%5=
!#"
5+$+)2'&"3+-2"'#5'%66()+'$+"3#)"+'6+-<=
&)%"6"'$+,+*&)2'2#'3"#$%&2%-'&$2<$%2%".'
J-+)&$%#'81'&4&32%*+'%66()+'4$%*+'B"++
F%:.'8D=CEV'><+'U$"2'&)4'6#$+'-,&""%-'*%+0
%"'2<&2'2<+'-,#)&,'+K3&)"%#)'$+W+-2"'&'2L3=
%-&,' "3+-%U-' 3+32%4+' &)2%:+)=2$%::+$+4
&4&32%*+' %66()+' $+"3#)"+' 6+4%&2+4' ;L
T@9' >' -+,,"' 2#' &' 3&$2%-(,&$' &(2#&)2%:+).
_):#%):' &-2%*&2%#)' #5' 2<+' T@9' >=-+,,
-,#)+"';L'2<+'(),%6%2+4'$+"+$*#%$'#5'"+,5=
&)2%:+)' 4$%*+"' 2<+' -,#)&,' +K3&)"%#)' &)4
"("2&%)"'2<+'&22&-A'#)'2<+'2&$:+2'-+,,"'+K=
3$+""%):' 2<+' &(2#&)2%:+).' ><+' 3$%6&$L
4+5+-2"' $+"3#)"%;,+' 5#$' 2<%"' "-+)&$%#' &$+
+K3$+""%#)'#5'2<+'&(2#&)2%:+)1';%)4%):'#5
&(2#&)2%:+)'3+32%4+"';L'6&b#$'<%"2#-#6=
3&2%;%,%2L' -#63,+K' Bd/TE' -,&""' G' &,,+,%-
6#,+-(,+"' &""#-%&2+4' 0%2<' "("-+32%;%,%2L1
&)4' 3$#*%"%#)' #5' %)%2%&,' -,#)&,' &-2%*&2%#)
%)'&)'&4&32%*+'%66()+'$+"3#)"+';L'&-2%=
*&2+4'4+)4$%2%-'-+,,".
J-+)&$%#'C1'%))&2+'%66()+'&-2%*&2%#)
#5' 3$++K%"2%):' 6+6#$Lh+55+-2#$' >' -+,,"V
><%"'&,2+$)&2%*+'"-+)&$%#'%"';&"+4'#)'2<+
3$+4#6%)&)2' 6+6#$L=+55+-2#$' 3<+)#=
2L3+'#5'2<+'+K3&)4+4'T@9'>'-+,,"'%)'2<+
%)W&66&2#$L'"%2+".'><+%$'T@C9=)+:&2%*+
"2&2("'$+W+-2"'2<+'5&-2'2<&2'&"'6+6#$L'+5=
5+-2#$' -+,,"' 2<+L' 4#' )#2' $+R(%$+' +):&:+=
6+)2'#5'2<%"'$+-+32#$';L'-#()2+$=$+-+3=
2#$"' #)' &-2%*&2+4' 4+)4$%2%-' -+,,"' 2#
3$#*%4+' &' "%:)&,' 20#' ;L' 2<%"' 3&2<0&L1
&)4'%)"2+&41'2<+'&-2%*&2%):'gk'$+-+32#$"
+K3$+""+4';L'2<+"+'-+,,"'3$#*%4+'&'"($$#=
:&2+'"%:)&,'20#'#)'$+-#:)%2%#)'#5'6#,+=
-(,+"' +K3$+""+4' #)' "2$+""+4' #$' %)b($+4
-+,,".'G)'2<%"'"-+)&$%#1'2<+'+):&:+6+)2'#5
$+-+32#$"'2<&2'$+-#:)%X+'%))&2+'%66()+
$+"3#)"+' ,%:&)4"' %"' 2<+' -+)2$&,' $+-#:)%=
2%#)'+*+)21'&)4'2<+'-,#)&,'"3+-%U-'&4&3=
2%*+' %66()+' $+"3#)"+' >=-+,,' $+-+32#$"
3$#*%4+'&',#0'&5U)%2L'$+-#:)%2%#)'"%:)&,.
;:F&#F&($#%"=1&E&F:F(
#E;(F%#1&F(
G)'-#66#)'0%2<'#2<+$'&(2#%66()+'4%"=
+&"+"1' 2<+' 4+*+,#36+)2' #5' 3"#$%&"%"' &)4
"(;"+R(+)2,L' 3"#$%&2%-' &$2<$%2%"' -&)' ;+
-#)"%4+$+4' 2#' #--($' %)' "2&:+"1' ;+:%))%):
0%2<'&' :+)+2%-&,,L'4+U)+4'3$+4%"3#"%2%#)
&)4' +)4%):' 0%2<' &' U)&,' "2&:+' #5' #*+$2
b#%)2' 4%"+&"+' BF%:.' 8D=PE.' ><+' 5#,,#0%): 5789:-4!#<? "NL,D-7DGA.8(5D.B75(G/(D-7(37@78,L67/D(,C(L5,9G.5G5(,9(L5,9G.DGA(.9D-9GDG50(%-7(Y95D(5D.B7(G5
"+-2%#)"' :$#(3' "#6+' #5' 2<+' %)5#$6&2%#)
,/7(,C(B7/7DGA.88N(37Y/73(525A7LDGSG8GDN(G8825D9.D73(G/(D-7(Y95D(A,6L.9D67/D0(<.4,9(-G5D,A,6L.DGSG8GDN(A,6L87M
&;#(2'2<+' 3$+4%"3#"%2%#)'&)4'3&2<#:+)+=
A8.55(:(6,87A2875T(578CIL7LDG375T(./3(,D-79(5DG88(2/V/,J/(B7/75(G/D79.AD(D,(5787AD(.(%IA788(97L79D,G97(D-.D(-.5(D-7
"%"'#5'3"#$%&2%-'&$2<$%2%"'&--#$4%):'2#'2<+"+
"2&:+"'&)4'2<+'3$+-+4%):'20#'"-+)&$%#". L9,L79DN(,C(97A,B/GXG/B(.(578CIL7LDG37(A9GDGA.8(D,(L.D-,B7/75G5(,C(L5,9G.5G5(,9(L5,9G.DGA(.9D-9GDG50(%-7(57A,/3(A,6I
L.9D67/D(37LGAD5(57@79.8(L,55GS87(G/GDG.DG,/(7@7/D5(G/(J-GA-(D-7(%IA788(A8,/75(5787AD73(G/(5D.B7(,/7(.97(D9GBB7973
D,(97A,B/GX7(.(578CIL7LDG370(%-G5(L-N5G,8,BGA(.3.LDG@7(G662/7(975L,/57(G5(G/GDG.D73(SN(.(5L7AGYA(6GA9,,9B./G56
17/7DGA($973G5L,5GDG,/K(FD.B7() ,9(SN(/,/I./DGB7/p5L7AGYA(G/_.66.DG,/(,9(D9.26.0(:/(D-7(D-G93(5D.B7T(D-7(2/8G6GD73(.6,2/D(,C(578CIL7LDG37
5H17/7H/4H88:-8H3702 ><+' 5&6%,L' <%"= .2D,./DGB7/(39G@75(D-7(G662/7(975L,/57(D,(A8,/.8(7ML./5G,/(./3(./(7CC7AD,9(L-7/,DNL7(D-.D(97528D5(G/(L5,9G.5G50
2#$L'#5'2<+'3&2%+)2'3$#*%4+"'&)'%63#$2&)2 :/(D-7(C,29D-(L-.57T(D-757(%IA788(A8,/75(.AU2G97(D-7(.SG8GDN(D,(975L,/3(D,(.(578CI./DGB7/(,C(D-7(4,G/D0(:/(.(Y/.8
-,(+' 2#' 4%&:)#"%".' d#$+' 2<&)' Q7' 3+$-+)2 L-.57T(D-757(A8,/75(.AU2G97(D-7(L,D7/DG.8(D,(G/4297(D-7(4,G/D(SN(D-7(9787.57(,C(A-76,VG/75(D-.D(97A92GD(./3(.ADGI
#5'3&2%+)2"'0%2<'3"#$%&2%-'&$2<$%2%"'<&*+'& @.D7(6,/,AND75(./3(/,/I./DGB7/p5L7AGYA(%(A78850(<28DGL87(G/_.66.D,9N(67A-./G565(A-.9.AD79GX7(D-G5(5D.B70(
!#*
5&6%,L'<%"2#$L'2<&2'%)-,(4+"'#)+'#$'"#6+= 4&2+' :+)+"' 2#' ;+' +K&6%)+4' 5#$' &' $#,+' %) F%$"21'2<+':+)+2%-'+55+-2'#5'/SN'"("-+32%=
2%6+"'6(,2%3,+'-&"+"'#5'3"#$%&2%-'&$2<$%2%"1 4+2+$6%)%):' :+)+"' %)*#,*+4' %)' 3"#$%&2%- ;%,%2L' &,,+,+"' %"' +*%4+)2' %)' ;#2<' "%63,+K
3"#$%&"%"1'#$'"+$#)+:&2%*+'"3#)4L,#&$2<$%= &$2<$%2%"'"("-+32%;%,%2L.'N""#-%&2%#)'"2(4= ["3#$&4%-^' 3"#$%&2%-' &$2<$%2%"' &"' 0+,,' &"
2%"' %)' 2<+%$' ;,##4' $+,&2%*+"1' &' ,%A+,%<##4 %+"' 0%2<' -&)4%4&2+' :+)+"' 0%2<' 3"#$%&2%- %)' 6(,2%3,+K' 5&6%,%+"1' 4+6#)"2$&2%):
Q7=5#,4' :$+&2+$' 2<&)' 2<&2' #5' 2<+%$' ()&5= &$2<$%2%"';+:&)'0%2<'\$+0+$2#)j"'%4+)2%U= 2<&2';#2<'"3#$&4%-'&)4'6(,2%3,+K' 5#$6"
5+-2+4' "3#("+".8C`8Q' ><%"1' &,#):' 0%2< -&2%#)' #5' &' "%:)%U-&)2,L' %)-$+&"+4' 5$+= #5' 3"#$%&2%-' &$2<$%2%"' &$+' ,%A+,L' 4+2+$=
<%:<'20%)'-#)-#$4&)-+'$&2+"1'+"2&;,%"<+" R(+)-L' #5' /SN=\CZ' %)' %)4%*%4(&,"' 0%2< 6%)+4';L'2<+'"&6+':+)+".'J+-#)41'+*+)
2<&2':+$6,%)+':+)+"'%63#$2&)2,L'-#)2$%;= 3"#$%&2%-' &$2<$%2%".89' ><+$+' %"' -#)"%4+$= %)' 6(,2%3,+K' 5&6%,%+"' 2<+' %)<+$%2&)-+' #5
(2+'2#'2<+'4+U)%2%#)'#5'2<+'3$+4%"3#"%2%#) &;,+' <+2+$#:+)+%2L' %)' 2<+' $+3#$2+4' 5$+= /SN'&,,+,+"'&""#-%&2+4'0%2<'"("-+32%;%,=
2#'4+*+,#3'3"#$%&2%-'&$2<$%2%".'@+"3%2+'2<%" R(+)-L'#5'/SN=\CZ'%)'3"#$%&2%-'&$2<$%2%"1 %2L'4#+"')#2'&--#()2'5#$'&,,'&55+-2+4'%)4%=
"2$#):' 5&6%,%&,' &::$+:&2%#)1' &' ,%22,+' 6#$+ $&):%):'5$#6'PD'3+$-+)2'%)'>&%0&)18D'8Z *%4(&,".' ><%$41' 2<+' :$+&2+$' %)-$+&"+' %)
2<&)' #)+=<&,5' #5' 3&2%+)2"' 0%2<' 3"#$%&2%- 3+$-+)2'2#'PQ'3+$-+)2'%)'4%55+$+)2'"2(4%+" 2<+'5$+R(+)-L'#5'2<+'/SN=T0H'&,,+,+'%)
&$2<$%2%"' &$+' "3#$&4%-' -&"+"' 0%2<' &' )+:&= 5$#6' )#$2<+$)' J3&%)1C71C8' 2<$#(:<' C7 3"#$%&"%"' 0%2<#(2' 3"#$%&2%-' &$2<$%2%"' &)4
2%*+'5&6%,L'<%"2#$L.'G)'2<+' -,&""%-'"2(4%+" 3+$-+)2'%)'Y$+&2'\$%2&%)1CC`CQ'Q'3+$-+)2'%) 2<+' :$+&2+$' %)-$+&"+' %)' /SN=\CZ1' /SN=
#5'd#,,'&)4'O$%:<21P'&6#):'99'3$#;&)4" G"$&+,1CM'&)4'2#'"+$%+"'%)'0<%-<'/SN=\CZ \P91' #$' /SN=\PD' %)' 3"#$%&2%-' &$2<$%2%"
2<&2'5(,U,,+4'2<+%$'-$%2+$%&'5#$'3"#$%&2%-'&$= 0&"' )#2' 4+2+-2+4.CH' ><+"+' *&$%&2%#)" 3$#*%4+' 6#,+-(,&$' +*%4+)-+' #5' :+)+2%-
2<$%2%"1' 8C.M' 3+$-+)2' <&4' &2' ,+&"2' #)+ 3&$2%&,,L' $+W+-2' 2<+' 4%&:)#"2%-' -$%2+$%& <+2+$#:+)+%2L' %)' 3"#$%&2%-' &$2<$%2%"' &)4
U$"2='#$'"+-#)4=4+:$++'$+,&2%*+'0%2<'3"#= ("+4' &)4' 2<+' :+#:$&3<%-' 4%"2$%;(2%#)' #5 3"#$%&"%".'F#($2<1'%)'-#63&$%"#)'2#'3"#$%=
$%&2%-'&$2<$%2%"'2<&2'&,"#'6+2'2<+"+'-$%2+$%&1 /SN=\CZ'&,,+,+"'2<&2'%)-$+&"+'%)'-%$-(6= &"%"1'2<+'$#,+'#5'/SN'&,,+,+"'%)'4+2+$6%)=
0%2<' &' 3"#$%&2%-' &$2<$%2%"' 3$+*&,+)-+' #5 3#,&$'3#3(,&2%#)".'G)'&44%2%#)1'2<+'%)W(= %):' "("-+32%;%,%2L' 2#' 3"#$%&2%-' &$2<$%2%"' %"
M.M' 3+$-+)2' &6#):' 898' U$"2=4+:$++' $+,&= +)-+' #5' %66()#:+)+2%-' 5&-2#$"' #)' 2<+ ,+""' -#)-,("%*+,L' +2-<+4' &)4' "++6%):,L
2%*+".' c&<6&)' &)4' ?,4+$C' $+&)&,LX+4 3&22+$)'#5'b#%)2'%)*#,*+6+)2'%)'3"#$%&2%- 6#$+' %)2$%-&2+.' ><+"+' U)4%):"' "2$#):,L
2<+"+'4&2&'&)4'+"2%6&2+4'2<+'6&:)%2(4+ &$2<$%2%"' 0&"' "<#0)' ;L' &)' %)-$+&"+' #5 "(::+"2'2<&2'#2<+$')#)=d/T':+)+"'3,&L
#5' 2<+' :+)+2%-' -#)2$%;(2%#)' 5#$' 3"#$%&2%- 2<+' 5$+R(+)-L' #5' /SN=\CZ' 2#' &33$#K%= &)'%63#$2&)2'$#,+'%)'"3+-%5L%):'3"#$%&2%-
&$2<$%2%"' 5$#6' 2<+' $+,&2%*+' 3$#3#$2%#)' #5 6&2+,L' Z7' 3+$-+)2' 0%2<' "3%)+' %)*#,*+= &$2<$%2%"'"("-+32%;%,%2L.
4%"+&"+'%)'2<+' U$"2=4+:$++'$+,&2%*+"'-#6= 6+)2.' /SN=\PD' &)4' 2#' &' ,+""+$' +K2+)2
3&$+4' 0%2<' 2<+' 3$+*&,+)-+' #5' 4%"+&"+' %) /SN=\P9' B;#2<' "3,%2"' #5' 2<+' "3+-%U-%2L %9GBB79G/B(,C(%(!7885K(FD.B7(O
2<+' :+)+$&,' 3#3(,&2%#)' ("%):' 2<+' c 5#$= 2+$6+4 JK?>G/L'%)'2<+'*+$L'#,4')#6+)=
6(,&2%#)';L'c%"-<.8M'N""(6%):'2<+'3$+*= -,&2($+E'<&*+';++)'%4+)2%U+4'&"'+,+*&2+4 /SN'-,&""'G'6#,+-(,+"'<&*+'20#'4%55+$+)2
&,+)-+'#5'3"#$%&2%-'&$2<$%2%"'%"'7.8'3+$-+)21 %)'3"#$%&2%-'&$2<$%2%"'%)'6(,2%3,+'%)4+3+)= 5()-2%#)".'F%$"21'2<+L'"3+-%U-&,,L';%)4'&)4
2<%"' L%+,4"' &' $%"A' c' 5#$' U$"2=4+:$++' $+,&= 4+)2' "2(4%+"1' ;(2' 0%2<' 4%*+$:+)-+' ;+= 3$+"+)2' 3+32%4+"' 2<&2' &$+' $+-#:)%X+4' ;L
2%*+"' #5' MM.' ?*+)' &""(6%):' &' <%:<+"2 20++)' 4%55+$+)2' $+3#$2"1' %)' 3&$2' ;+-&("+ 2<+' -,#)&,,L' "3+-%U-' >=-+,,' $+-+32#$"' #)
3$+*&,+)-+' #5' 3"#$%&2%-' &$2<$%2%"' %)' 2<+ #5'2<+'4%55+$+)-+"'%)'+2<)%-'4%"2$%;(2%#). T@9' >' -+,,"1' &' $+-#:)%2%#)' +*+)2' -+)2$&,
3#3(,&2%#)'#5'7.QM'3+$-+)21'2<+' c'0#(,4 /SN=\vP978' 4%55+$"' 5$#6' /SN=\vPD78 2#' 2<+' &4&32%*+' %66()+' $+"3#)"+' 2#' %)=
4+-$+&"+'#),L'2#'8C.C1'&')#2&;,L'<%:<'$+= ;+-&("+'2<+'5#$6+$1'"%6%,&$'2#'/SN=\CZ1 2$&-+,,(,&$' 3&2<#:+)".' J+-#)41' 2<+L' +)=
-($$+)-+'$&2%#'5#$'&'-#63,+K'4%"+&"+1'%6= ;+&$"' &' "2$#):' ,%:&)4' 5#$' 2<+' kGcP@S8 :&:+'&'*&$%+2L'#5'gk'$+-+32#$"'+K3$+""+4
3,L%):'&'*+$L'"2$#):':+)+2%-'-#)2$%;(2%#) gkc'$+-+32#$1'0<+$+&"'2<+',&22+$'%"')#)= ;L' gk' -+,,"' #$' 6+6#$Lh+55+-2#$' T@9' >
2#'"("-+32%;%,%2L.'G)'&'6#$+'$+-+)2'"2(4L1 $+&-2%*+.'/SN=\P9'&)4'/SN=\PD'4#')#2 -+,,"'%)'&)'%))&2+'%66()+'"L"2+6'"($*+%,=
dL+$"'+2'&,.8H'$+3#$2+4'+""+)2%&,,L'"%6%,&$ "<&$+'&)-+"2$&,'<&3,#2L3+"'#$'/SN=T'&,= ,&)-+' 3$#-+""' 2<&2' %)' 3&$2' 4+2+-2"' $+4(-=
U)4%):".' ><+' -#)-#$4&)-+' $&2+' &6#): ,+,+"'0%2<'/SN=\CZ'&,,+,+". 2%#)' %)' +K3$+""%#)' #5' "+,5=d/T1' 6%""%):
"%;,%):"'5#$'&,,'2L3+"'#5'3"#$%&2%-'&$2<$%2%" N"'&)2%-%3&2+4'5$#6'2<+'$+,&2%#)"<%3'#5 "+,51' 5#()4' #)' 2$&)"5#$6+4' #$' 3&2<#:+)=
0&"' 8Q' 3+$-+)2' %)-,(4%):' +)2<+"%2%"' &)4 3"#$%&2%-'&$2<$%2%"'2#'3"#$%&"%"1'3"#$%&2%-'&$= %)5+-2+4' -+,,"1' &)4' &,"#' 4+2+-2"' &;+$$&)2
5#$' 3"#$%&"%"' C8' 3+$-+)2.' G5' +)2<+"%2%"' %" 2<$%2%"'%"'&,"#'&""#-%&2+4'0%2<'&)'+,+*&2+4 %)-$+&"+"'%)'-,&""'G'#$'$+,&2+4'6#,+-(,+"'%)=
+K-,(4+41' 2<+' $+"(,2%):' *&,(+"' $+"+6;,+ 5$+R(+)-L'#5'JK?>CML'&"'U$"2'$+3#$2+4'%) 4(-+4';L'"2$+""'&)4'%)b($L.'_)+'"+2'#5'+%=
2<+' 8C.M' 3+$-+)2' 5$+R(+)-L' #5' &55+-2+4 &' "2(4L' ("%):' "+$#,#:%-' 2+-<)%R(+"' ;L 2<+$'&-2%*&2%):'#$'%)<%;%2%):'gk'$+-+32#$"
"%;,%):"' #;"+$*+4' ;L' d#,,' &)4' O$%:<21 d($$&L'+2'&,.1CM'0<+$+'%2'0&"'%4+)2%U+4'%) 2<&2'%)2+$&-2'0%2<'3&$2%-(,&$'&,,+,%-'/SN=\
0<#' 4%4' )#2' %)-,(4+' +)2<+"%2%"' %)' 2<+%$ PQ.H' 3+$-+)2' #5' 3"#$%&2%-' &$2<$%2%"1' M7.7 #$'/SN=T'&,,+,%-'6#,+-(,+"'%"'2<+'A%,,+$'%)=
#$%:%)&,'-$%2+$%&.'><+'%)<+$%2&)-+'#5'3"#$%= 3+$-+)2' #5' 3"#$%&"%"1' &)4' 8P.M' 3+$-+)2' #5 <%;%2#$' $+-+32#$' BkGcE' "L"2+6.' N,,+,+"' #5
&2%-' &$2<$%2%"' <&"' &' 6%K+4' 6(,2%5&-2#$%&, -#)2$#,".' G)2+$+"2%):,L1' 2<+' /SN=T0H' &,= 2<+' kGc' "L"2+6' <&*+' ;++)' "<#0)' 2#' %)=
3&22+$)'5#()4'%)'6&)L'&(2#%66()+'4%"= ,+,+1' $+,&2+4' 2#' 9"#$"/1' %"' 5#()4' %)' "2$#): 2+$&-2'+3%"2&2%-&,,L'0%2<'/SN'&,,+,+"'%)'4+=
+&"+"' 2<&2' +%2<+$' "%6(,&2+"' &' 3&$2%&,,L ,%)A&:+' 4%"+R(%,%;$%(6' 0%2<' /SN=\MZ 2+$6%)%):' "("-+32%;%,%2L' 2#' 3"#$%&2%-' &$=
4#6%)&)2'6#4+'#5'%)<+$%2&)-+'2<&2'%"'%)= &)4' /SN=\8P1' ;(2' )#2' 0%2<' /SN=\CZ1 2<$%2%".CD1P7' ><+' %)2+$3$+2&2%#)' #5' 2<+
-#63,+2+,L' 3+)+2$&)21P' #$' &' $+-+""%*+ /SN=\P91' #$' /SN=\PD.' N,,+,+"' +)-#4%): 6+&)%):' #5' 2<+' &""#-%&2%#)' #5' /SN=\CZ
6#4+.8Z' N"' 6%:<2' ;+' +K3+-2+41' &55+-2+4 /SN=\8P'&)4'/SN=\MZ'&$+'&,"#'%)'"2$#): &)4' 2<+' "+-#)4' :$#(3' #5' /SN' -,&""' G' &,=
"%;,%):' 3&%$"' &$+' ("(&,,L' 4%"-#$4&)2' 5#$ ,%)A&:+' 4%"+R(%,%;$%(6' 0%2<' 2<+' /SN= ,+,+"' %)-,(4%):' /SN=\8P1' /SN=\MZ1' &)4
2<+%$' 3&22+$)"' #5' b#%)2' %)*#,*+6+)2.' ><+ @cZ'&)4'2<+'@eN8v7C78'&,,+,+"1'+63<&= /SN=T0H'0%2<'"("-+32%;%,%2L'2#'4+*+,#3
6#"2'-#66#)'"L632#6'%)'&55+-2+4'"%;= "%X%):' 2<+' ,&$:+' :+)#6%-' 4%"2&)-+"' #*+$ 3"#$%&2%-' &$2<$%2%"' %"' -#63&2%;,+' 0%2<
,%):"'0&"'+)2<+"%2%".' 0<%-<'2<+"+'&)-+"2$&,'<&3,#2L3+"'+K2+)41 ;#2<'"-+)&$%#"'#5'3&2<#:+)+"%"'4+"-$%;+4
&)4' &"' +K3+-2+4' /SN=@cZ' &)4' 2<+ &;#*+.' G)' 2<+' U$"2' "-+)&$%#1' 2<+"+' /SN
[/H "/H664748-2-6472.0/.-,4724,-3-:172< @eN8v7C78&,,+,+"' <&*+' &,"#' ;++)' $+= 6#,+-(,+"' &$+' +)*%"%#)+4' 2#' &-2' 2#' "+=
7284696"-$37K7/73N \+-&("+' 2<+' <%:<,L 3#$2+4'&2'%)-$+&"+4'5$+R(+)-L'%)'3"#$%&2%- ,+-2'&'3&$2%-(,&$'$+3+$2#%$+'#5'T@9'>'-+,,"
3#,L6#$3<%-' d/T' :+)+"' <&*+' &)' %6= &$2<$%2%"'&)4'3"#$%&"%".CZ1C9 ;L' ;%)4%):' &)4' 3$+"+)2%):' -+$2&%)' "+,5=
3#$2&)2' $#,+' %)' $+:(,&2%):' %66()+' $+= ><+$+' &$+' 5#($' :+)+$&,' ,+""#)"' &;#(2 3+32%4+"'4($%):'2<+'3<&"+'#5'3#"%2%*+'2<L=
"3#)"%*+)+""1' 2<+L' 0+$+' 2<+' U$"2' -&)4%= /SN' &""#-%&2%#)"' %)' 3"#$%&2%-' &$2<$%2%"V 6%-' "+,+-2%#)' #5' 2<+' >=-+,,' $+3+$2#%$+.' G)
!#;
2<+'"+-#)4'"-+)&$%#1'2<+"+'3&$2%-(,&$'&,,+,%- T@9'>=-+,,'-,#)+'0%2<'6%)%6&,'-,#)&,'>=
!"#$%&'1)-
/SN' 6#,+-(,+"' %)2+$&-2' 4%55+$+)2,L' 0%2< -+,,'$+-+32#$'+):&:+6+)2.
0(^">>";-.D%C"=_%,"#(%:.->%0(#;#"$%
*&$%#("' gk' $+-+32#$"' B+.:.1' kGc' $+-+32#$" \#2<'"-+)&$%#"'2<+)'6+$:+'%)'2+$6"'#5
0(^">>";#-(%-:%2<-(TD$#;#+X%2"=.-#$##;#+X%
#)'2<+'6+6#$L=+55+-2#$'3#3(,&2%#)E.' 2<+' -#)"+R(+)-+' #5' >=-+,,' &-2%*&2%#).' N
-.%/]#"$%3(;'*+#;#+
><+' "+-#)4' "2&:+' #5' 2<+' 4%"+&"+' %)= -&"-&4+'#5'"+-#)4&$L'%66()+'$+"3#)"+"
*#,*+"' &-2%*&2%#)' #5' 2<+' T@9' >=-+,, #--($"' %)' 2<+' b#%)2' 2%""(+' &"' &' $+"(,2' #5 v =/57D(S7C,97(.B7(aQ(N9
-,#)+"'&)4'2<+'3&2<0&L"'%)*#,*+4'4%55+$ 2<%"' 4$%*+.' T<+6#A%)+"' &)4' -L2#A%)+"1 v :/5G3G,25(3288(377L(S2DD,AV(,9(8,J(S.AV(L.G/
%)'+&-<'#5'2<+'20#'3#2+)2%&,'"-+)&$%#".'G) %)-,(4%):'%)2+$5+$#)= '$+,+&"+4';L'>=-+,, v $,,98N(8,A.8GX73T(3,75(/,D(C,88,J(/79@7(9,,D
2<+'U$"2'"-+)&$%#1'4($%):'>=-+,,'$+3+$2#%$+ &-2%*&2%#)' B"++' T<&3".' 88' &)4' 8CE1' &-2%= v $795G5D5(s(R(6,
5#$6&2%#)'&,,'>'-+,,"'&$+'"+,+-2+4'#)'"+,5= *&2+' *&"-(,&$' +)4#2<+,%(6' &)4' 6#)#= v FDGCC/755iL.G/(,/(.9G5G/B(G/(D-7(6,9/G/BT(,9(
3+32%4+"' &)4' 2<+' %)4%*%4(&,"' 0%2<' 3"#$%= -L2+=6&-$#3<&:+".' ><+' &-2%*&2+4' 6&-= 329G/B(5877L
&2%-'"("-+32%;%,%2L'&,,+,+"'&$+',+52'0%2<'-+$= $#3<&:+"'$+,+&"+'&44%2%#)&,'-<+6#A%)+" v :6L9,@767/D(JGD-(7M79AG57
2&%)'3#2+)2%&,,L' "+,5=$+&-2%*+'T@9' >=-+,," &)4' -L2#A%)+"' "(-<' &"' GS=81' GS=H1' &)4 v ;GCC797/DG.8(3G.B/,5G5(C9,6(67A-./GA.8(,9(
%)' 2<+%$' $+3+$2#%$+.' ><+"+' 6&L' ;+' %)' & >gF= .'><+'-L2#A%)+"'&55+-2'2<+'3&22+$) 37B7/79.DG@7(5LG/7(3G57.57
"2&2+' 2+$6+4' )-#1&-' %01#$&1)*' $&2<+$' 2<&) #5' :+)+' +K3$+""%#)' %)' 2&$:+2' 6+"+)-<L=
2#,+$&)-+1'&)4'2<+'3$#*%"%#)'#5'&33$#3$%= 6&,' -+,,"' $+"(,2%):' %)' %)b($L' &)4' ,#""' #5 #5'2<+'4%"+&"+'&)4'2<+'&;$(32'#)"+2'6&L
&2+'-#="2%6(,&2#$L'"%:)&,"'2#'2<+'>=-+,,';L 5()-2%#)1'0<+$+&"'2<+'-<+6#A%)+"'%)"2%= "(::+"2' $+&-2%*+' &$2<$%2%"' B"++' T<&3.' C7E
&--+""#$L' 6#,+-(,+"' #)' &-2%*&2+4' 4+)= :&2+' 2<+' )#)=&)2%:+)`"3+-%U-' $+-$(%2= "L)4$#6+'#$':#(2'B"++'T<&3.'8H8E.'@&-=
4$%2%-'-+,,"'%"'2<+'-$%2%-&,'+*+)2'2<&2'$+"(,2" 6+)2' #5' #2<+$' T@9' >' -+,,"' &)4' T@Q' > 2L,%2%"'&)4'3%22%):'+4+6&'#5'2<+'<&)4"'#$
%)'2<+'&-2%*&2%#)'#5'2<+"+'>=-+,,'-,#)+".'G) -+,,"' %)2#' 2<+' "%2+' #5' %)W&66&2%#)1' &" 5++21' "#6+2%6+"' &"L66+2$%-1' "+-#)4&$L
2<+'%))&2+'%66()+'"-+)&$%#1'&-2%*&2%#)'%" 0+,,'&"'&44%2%#)&,',+(A#-L2+".'><+"+'$+= 2#' +)2<+"%2%"' &)4' 2+)#"L)#*%2%"' 6&L' ;+
&--#63,%"<+4';L'+%2<+$'"+,5='#$')#)="+,5= -$(%2+4';L"2&)4+$'>'-+,,"1'%)'2($)1'$+,+&"+ 2<+'U$"2'6&)%5+"2&2%#)'#5'3"#$%&2%-'&$2<$%=
&)2%:+)"'2<&2'&$+')#2'%4+)2%-&,'2#'3+32%4+" &44%2%#)&,' -L2#A%)+"' 2<&2' &-2' #)' "L)#= 2%"'&)4'+63<&"%X+"'2<+'2+)4+)-L'5#$'&-=
5#()4'%)'2<+'+)2<+"+"'#$'b#%)2".'><+'T@9 *%&,' ,%)%):' -+,,"1' -+,,"' #5' 2<+' +)2<+"+"1 $&,'%)*#,*+6+)2'#5'2<+',%6;"'%)'3"#$%&2%-
>' -+,,"' 4%$+-2+4' 2#' 3(2&2%*+' A+$&2%)#-L2+ &)4' #2<+$' -+,,"' %)' 2<+' U;$#;,&"2' ,%)+&:+ &$2<$%2%".' ><+' 4+*+,#36+)2' #5' %)"%4%#("
3+32%4+"'2<&2'+K3&)4'5#$'&'4+-&4+'0<%,+ 2#'&,2+$'2<+%$'3&22+$)'#5':+)+'+K3$+""%#)1 %)W&66&2#$L';&-A'3&%)'%"'&)'%63#$2&)2
6+4%&2%):' 3"#$%&"%"' ()2%,' 2<+' 3<&"+' #5 3$#,%5+$&2+1' &)4' 3$+"%4+' #*+$' -&$2%,&:+ -,(+' 2#' 2<+' $+-#:)%2%#)' #5' &K%&,' 4%"+&"+
#*+$2' 3"#$%&2%-' &$2<$%2%"' &33+&$"' 6%:<2 +$#"%#)'#$' %)4(-+' )+0' ;#)+'5#$6&2%#). &)4'2<%"'6&L';+'2<+'%)%2%&,'6&)%5+"2&2%#)
"(5U-+' 2#' &--#()2' 5#$' 2<%"' -,#)&,' +K3&)= J%6%,&$,L1'2<+"+'%66()#$+&-2&)2"'&-2'#) #5'3"#$%&2%-'&$2<$%2%"'B>&;,+'8D=PE.'T#)"2%=
"%#).' N,2+$)&2%*+,L1' 2<+' -,#)+"' 6&L' +K= *&"-(,&$' +)4#2<+,%(6' 2#' &,2+$' %2"' 5()-= 2(2%#)&,' 5+&2($+"1' %)-,(4%):' 5+*+$' &)4
3&)4'%)'&)'&4&32%*+'%66()+'$+"3#)"+'2# 2%#)&,'"2&2+'2#0&$4'#)+'2<&2'"(33#$2"'%)= 6&,&%"+1'&$+'()-#66#)1'("(&,,L'+*%4+)2
&' 3&2<#:+).' ><+' /SN' "("-+32%;%,%2L' &,= W&66&2%#)' &)4' $+-$(%2"' &44%2%#)&,' ,+(= #),L' %)' &' 5(,6%)&)2' #)"+2' 0%2<' 0%4+=
,+,+"' -#(,4' 3,&L' &' $#,+' %)' 4+*+,#3%):' & A#-L2+".'><+'-#6;%)&2%#)'#5'-L2#A%)+"1 "3$+&4' b#%)2' 4%"+&"+.' /#0+*+$1' 2<+
3$%6+4'6+6#$L`+55+-2#$'-+,,'$+3+$2#%$+. -<+6#A%)+"1' &)4' #2<+$' 3$#=%)W&66&= +$L2<$#-L2+' "+4%6+)2&2%#)' $&2+1' T=$+&-=
2#$L' 5&-2#$"' 5$#6' &,,' #5' 2<+"+' -+,,' 2L3+" 2%*+'3$#2+%)1'&)4'2<+'"+$(6'-#63,+6+)2
$+"(,2"'%)'2<+'4%"2%)-2%*+'3%-2($+'#5'b#%)2 ,+*+,"'&$+'-#66#),L'+,+*&2+41'$+W+-2%):
&@7/D5('7528DG/B(G/(=@79D(+,G/D( &)4' 2+)4#)' %)W&66&2%#)1' -&$2%,&:+' 4+= &-2%*&2%#)' #5' &-(2+' 3<&"+' $+&-2&)2"' ;L
:/_.66.DG,/(./3(:/429NK(FD.B7(R "2$(-2%#)1' &)4' 6+"+)-<L6&,' &-2%*&2%#) -L2#A%)+".
-<&$&-2+$%X+4';L'U;$#"%"'&)4')+0';#)+
><+'4+*+,#36+)2'#5'b#%)2'%)W&66&2%#) 5#$6&2%#).
$+R(%$+"' &' 3##,' #5' +K3&)4+4' &)2%:+)= FVG/(;G57.57
$+&-2%*+'T@9'>=-+,,'-,#)+"'0%2<'&)'+55+-=
2#$' -+,,' 3<+)#2L3+' 2<&2' -&)' ;+' 2$%::+$+4 !>:E:!#>(<#E:d&F%#%:=EF J("-+32%;%,%2L' 2#' 2<+' 4+*+,#36+)2' &)4
;L'2<+'b#%)2'+)*%$#)6+)2.'G)'2<+'&4&32%*+ "+*+$%2L' #5' &$2<$%2%"' ,##"+,L' -#$$+,&2+"
=/57D(./3(=AA2997/A7 0%2<'2<+'"+*+$%2L'#5'-(2&)+#("'%)*#,*+=
%66()+' $+"3#)"+' "-+)&$%#1' 2<+$+' %"' &
3<&"+' #5' "(;"2&)2%*+' T@9' >=-+,,' -,#)&, !"#$%&2%-' &$2<$%2%"' -<&$&-2+$%"2%-&,,L' 4+= 6+)2.'/#0+*+$1'$+6%""%#)"'&)4'+K&-+$=
+K3&)"%#)'&)4'4%55+$+)2%&2%#)'2#'&)'+55+-= *+,#3"';+20++)'CM'&)4'QM'L+&$"'#5'&:+1 ;&2%#)"' #5' 2<+' b#%)2' 4%"+&"+' -#$$+,&2+
2#$' 3<+)#2L3+' 4$%*+)' ;L' 3"#$%&2%-' "+,5= &)'&*+$&:+'#5'87'L+&$"'&52+$'&33+&$&)-+ #),L'3##$,L'0%2<'"%6%,&$'-<&):+"'%)'2<+
&)2%:+)"'&"'4+3%-2+4'%)'2<+'2<%$4'-#63&$2= #5'3"#$%&"%"1';(2'-&)'#--($'&2')+&$,L'&)L "A%)'4%"+&"+.
6+)2'%)'F%:.'8D=P.'G)'2<+'"+-#)4'"-+)&$%#1 &:+.' _)"+2' +&$,%+$' %)' &4(,2<##4' #$' %)
2<%"' +K3&)"%#)' <&"' ;++)' &--#63,%"<+4. -<%,4<##4' %"' &""#-%&2+4' 0%2<' &' <+%:<2=
%7/,5N/,@GDG5(./3(&/D-75GDG5
><+' -$%2%-&,' +*+)2' %)' 2<+' %))&2+' %66()+ +)+4' ,%A+,%<##4' #5' 4+*+,#3%):' 4+"2$(-=
"-+)&$%#' %"' 2<+' 3$#*%"%#)' #5' &' -,#)&,' &2= 2%*+'&$2<$%2%".'>L3%-&,,L1'+&$,L'#)"+2'3"#= ?)2<+"%2%"'&)4'4&-2L,%2%"'&$+'<&,,6&$A"'#5
2$&-2%):' &)4' &-2%*&2%):' "2%6(,("' %)' 2<+ $%&2%-' &$2<$%2%"' #--($"' %)' &' "+22%):' #5' & 3"#$%&2%-' &$2<$%2%".' ?)2<+"%2%"' 6&L' ;+
b#%)2' 2<&2' %)%2%&2+"' 2<+' ,#-&,%X&2%#)' &)4 "2$#):' 5&6%,L' <%"2#$L' #5' 2<+' 4%"+&"+.P8 R(%2+' "(;2,+' &)4' -&)' "#6+2%6+"' ;+' $+,&=
%)'"%2('&-2%*&2%#)'#5'2<+'6+6#$L=+55+-2#$ ><+'"+K'$&2%#'3&$&,,+,"'2<&2'#5'3"#$%&"%"1 2%*+,L'+&"L'2#'#*+$,##A1'#$'%2'6&L';+'5(,=
>' -+,,"' 2<$#(:<' +):&:+6+)2' #5' 2<+%$ 0%2<'&)'+K-+""'#5'5+6&,+"'%)'+&$,L'-<%,4= 6%)&)2' 0%2<' %)2+)"+' 2+)#"L)#*%2%".' ?)=
gk'&)4'#2<+$'$+-+32#$"'&-R(%$+4'&"'2<+ <##4';(2'&)'+""+)2%&,,L'+R(%*&,+)2'%)-%= 2<+"%2%"'6&L'3$+"+)2'#),L'&"')#)="3+-%U-
-+,,'+)2+$"'2<+'6+6#$L=+55+-2#$'"2&:+'#5 4+)-+'%)';#2<'"+K+"'%)'&4(,2".' 5##2'3&%)1'2+))%"'+,;#0'%)'2<+')#)=4#6%=
4+*+,#36+)2.' G2' %"' 2<+' &)&,#:(+' #5' 2<+ ><+'#)"+2'#5'&$2<$%2%"'%"'("(&,,L'%)"%4%= )&)2'<&)41'#$'%"#,&2+4'3#"2+$%#$'2%;%&,'2+)=
&-2%*&2%#)'#5'2<+'4+)4$%2%-'%)'2<+'%))&2+ #("1' ;(2' #--&"%#)&,,L' %"' &;$(321' "#6+= 4#)%2%"i'2<+"+'"L632#6"'&$+')#2'-#)"%4=
"-+)&$%#.' ?):&:+6+)2' #5' 2<+"+' gk' $+= 2%6+"' "++6%):' 2#' 5#,,#0%):' &' b#%)2' %)= +$+4' ;L' 2<+' 3&2%+)2' 2#' ;+' 3&$2' #5' 2<+
-+32#$"' ;L' ,%:&)4"' %)4(-+4' %)' 2<+' b#%)2 b($L.'O<+2<+$'2<+'%)b($L'3$+-%3%2&2+"'2<+ %,,)+"".' ?)2<+"%2%"' %"' "#6+2%6+"' 0%4+=
2%""(+"' 3$#*%4+"' &;()4&)2' -#="2%6(,&= 3$#-+""'#$'"%63,L'4$&0"'&22+)2%#)'2#'&) "3$+&4'&)4'"L66+2$%-1'&'4%"2$%;(2%#)'2<&2
2%#)' 2#' &-2%*&2+' 2<+' 6+6#$L=+55+-2#$ #):#%):'3$#-+""'%"'()-,+&$.'><+'%)2+)"%2L 4%55+$+)2%&2+"' %2' 5$#6' 3#"2=2$&(6&2%-' #$ !##
#--(3&2%#)&,'2+)4#)'%)b($L'2<&2'2+)4"'2# )+0' ;#)+' 5#$6&2%#).' J#6+2%6+"' 2<+
&55+-2' 2<+' 4#6%)&)2' <&)4' &)4' &$6.' N4= %)%2%&,'#$'#),L'6&)%5+"2&2%#)'#5'3"#$%&2%-
*&)-+"'%)'%6&:%):':$+&2,L'&%4'%)'2<+'%4+)= &$2<$%2%"' %"' <&,,(K' $%:%4("1' %63,L%):' 2<+
2%U-&2%#)'#5'+)2<+"%2%"'&)4'#2<+$'5+&2($+" "(;2,+')&2($+'#5'b#%)2'%)W&66&2%#)'&)4
#5'3"#$%&2%-'&$2<$%2%".PC1PP'><+'3$#3+$2L'#5 2<+')++4'5#$'%2"'+&$,%+$'$+-#:)%2%#).
6&:)+2%-' $+"#)&)-+' 2#' %6&:+' ,%:&6+)2" G)W&66&2%#)' #5' #)+' #$' 6&)L' #5' 2<+
&)4'-&$2%,&:+'%"'&'3&$2%-(,&$'"2$+):2<1'&"'%" @G!"' %"' *%$2(&,,L' 3&2<#:)#6#)%-' 5#$
%2"' &;%,%2L' 2#' %4+)2%5L' 2%""(+' +4+6&' #$ 3"#$%&2%-'&$2<$%2%"'#$'$+&-2%*+'&$2<$%2%"i'%2
"6&,,'+55("%#)"';L'*&$%#("'2L3+"'#5'"%:)&, )++4'#),L';+'4%"2%):(%"<+4'5$#6'/+;+$=
0+%:<2%):.' dcG' "<#0+4' 2<+' %)W&66&= 4+)j"' )#4+"1' 0<%-<' #--($' %)' &' 5#$6' #5
2%#)'#5'2<+';#)+'&4b&-+)2'2#'2<+'%)"+$2%#) #"2+#&$2<$%2%"' %)5+-2%#)1' #$1' $&$+,L1' -$L"=
&"'0+,,'&"'2<+'"#52'2%""(+'-<&):+".'I,2$&= 2&,,%)+' &$2<$%2%4+"' "(-<' &"' :#(2.' ><+
"#)#:$&3<L'0&"'"<#0)'2#'4+,%)+&2+'2<+ 3#%)2"' #5' 4%"2%)-2%#)' -#)-+$)%):' $<+(=
"0+,,%):'#5'2<+'+)2<+"+"'&)4'2<+'3+$%2+)= 6&2#%4'&$2<$%2%"'*+$"("'3"#$%&2%-'&$2<$%2%"
4%)#("'"#52'2%""(+"'&"'0+,,'&"'2<+'4%"2+)= &$+'"(66&$%X+4'%)'>&;,+'8D=Q1'&)4'%2'%"
"%#)' #5' &4b&-+)2' ;($"&+' ;L' W(%4' -#,,+-= %63#$2&)2'2#'+63<&"%X+'2<&2'2<+'@G!'%"
2%#)".'\#)+'"-%)2%:$&3<L'%"'#52+)'("+5(,'%) $&$+,L1' %5' +*+$1' &55+-2+4' ;L' $<+(6&2#%4
%4+)2%5L%):' 2<+' 3$+-%"+' )&2($+' &)4' ,#-&= &$2<$%2%".'G)'"#6+'%)"2&)-+"1'2<+'b#%)2'%)=
2%#)' #5' 2<+' "#6+2%6+"' -#)5#()4%):' 4+= *#,*+6+)2' %)' 2<+' <&)4"' &)4' 5++2' %"
*+,#36+)2' #5' +)2<+"%2%"' 2<&2' 6&L' "%6(= 0%4+"3$+&4'B"++'F%:.'8D=QE.
,&2+'%)5+-2%#). ><+' ,&$:+' b#%)2"' 2<&2' &$+' &55+-2+4' %)
3"#$%&2%-' &$2<$%2%"' %)-,(4+' 2<+' <%3"1
A)++"1' &)4' &)A,+".' _52+)' #),L' &' "%):,+
E.G8(;G57.57 5789:-4!#<L '.3G,B9.L-(97@7.8G/B(42MD.I.9DGAI <%3'#$'A)++'b#%)2'%"'%)*#,*+4i'2<+'4#6%=
><+')&%,'6&2$%K'%"'5$+R(+)2,L'&55+-2+4'%) 28.9 ,5D7,L,9,5G5( ./3( 79,5G,/5( .D( .88( 67D.A.9L,I )&)2'4%&:)#"2%-'-#)"%4+$&2%#)"'%)'&4(,2"
3"#$%&2%-' &$2<$%2%"1' $+"(,2%):' %)' &' *&$%+2L L-.8./B7.8T( 3G5D.8T( ./3( L9,MG6.8( G/D79L-.8./B7.8 %)-,(4+' 4+:+)+$&2%*+' #"2+#&$2<$%2%"' #$
#5'6&)%5+"2&2%#)"1'%)-,(4%):')&%,'3%22%):1 4,G/D5(G/(.(RQIN7.9I,83(6./(JGD-(-26./(G662/,I 3#"2=2$&(6&2%-'&$2<$%2%"'$&2<+$'2<&)'3"#=
"(;():(&,' <L3+$A+$&2#"%"' &)4' #)L-<#,= 37YAG7/AN(@G925I)p.55,AG.D73(L5,9G.DGA(.9D-9GDG50 $%&2%-' &$2<$%2%".' !#"2=2$&(6&2%-' 5#$6"' #5
L"%"1' )&%,' -$(6;,%):1' \+&(j"' ,%)+"' B$%4:= 3"#$%&2%-'&$2<$%2%"'%)'&2<,+2+"'&$+'3&$2%-(=
%):E1' ,+(A#)L-<%&1' "&,6#)' 3&2-<+"1' +$L= ,&$,L' -<&,,+):%):' 2#' 4%"2%):(%"<' 5$#6
2<+6&2#("' 3&2-<+"' #5' 2<+' ,()(,&1' &)4 &"'0+,,'&"'"L)#*%2%".'@+5#$6%2L'"+-#)4= 3($+,L' 6+-<&)%-&,' %)b($%+".' G)' &33$#K%=
+-2&2%-'2#$2(#("'-&3%,,&$%+"'2<&2'$+"+6;,+ &$L'2#'U;$#"%"'&)4'-#)2$&-2($+"'6&L'#-= 6&2+,L'M'3+$-+)2'#5'3+$"#)"'0%2<'3"#$%=
"3,%)2+$' <+6#$$<&:+".' g&%,' 6&2$%K' 4%"= -($.' ><+' -,&""%-' 3+)-%,=%)=-(3' b#%)2' #5 &2%-' &$2<$%2%"1' 2<+' -<&$&-2+$' #5' 2<+' b#%)2
+&"+' %"' 6#$+' "2$#):,L' &""#-%&2+4' 0%2< 3"#$%&2%-' &$2<$%2%"' %"' "#6+2%6+"' "++)1 %)b($L' ;+-#6+"' 3$#5#()4,L' 4+"2$(-2%*+
3"#$%&2%-' &$2<$%2%"' 2<&)' 0%2<' 3"#$%&"%" -#)"%"2%):'#5'"L66+2$%-'&)4'-#)%-&,'#"= 0%2<' 6&$A+4' #"2+#,L"%"1' $+"(,2%):' %)
&,#)+1' ;+%):' 5#()4' %)' 97' 3+$-+)2' 2#' 9M 2+#,L"%"' #5' 2<+' 3$#K%6&,' <+&41' 0%2<' +)= 0<&2'%"'"#6+2%6+"'$+5+$$+4'2#'&"'&$+5$%+%"
3+$-+)2'#5'2<#"+'0%2<'&$2<$%2%"'*+$"("'C7 ,&$:+6+)2'#5'2<+';&"+'#5'2<+'4%"2&,'<+&4 3(+%-&1".'G)'$&$+'%)"2&)-+"1'2<%"'3$#-+""'%"
3+$-+)2'2#'P7'3+$-+)2'#5'2<#"+'0%2<'2<+ ;L' )+0' ;#)+' 5#$6&2%#).' N-$&,' #"2+#,L= :+)+$&,%X+41';(2'6(-<'6#$+'-#66#),L
%"#,&2+4' -(2&)+#("' 5#$6' #5' 2<+' 4%"= "%"'&)4'+$#"%#)"'&2'2<+'2%3'#5'2<+'2(52'#5 #)+'#$'&'5+0'b#%)2"'%)'2<+'<&)4"'#$'5++2
+&"+.PQ' g&%,' 4%"+&"+' &)4' 3&$#)L-<%&' %" 2<+' 4%:%2' &$+' -<&$&-2+$%"2%-1' +"3+-%&,,L &$+' -<&$&-2+$%X+4' ;L' 4+"2$(-2%#)' #(2' #5
+"3+-%&,,L'$+,&2+4'2#'%)*#,*+6+)2'#5'2<+ 0<+)'2<+L'%)*#,*+'2<+'<&,,(K.'N)AL,#"%" 3$#3#$2%#)' 2#' 2<+' $+6&%)4+$' #5' 2<+' %,,=
@G!'#5'2<+'"&6+'4%:%2'$+W+-2%):'2<+'&-$&, #5'#)+'#$'6#$+'%"#,&2+4'b#%)2"'%"'&)#2<+$ )+"". 8!*$&' 0-&""' 5&17' $+5+$"' 2#' 2<+' #"=
4L"2$#3<%-'"2&2+'B"++'F%:.'8D=8E. 4%"2%)-2%*+' 5+&2($+' 4(+' 2#' U;$#"%"' &)4 2+#,L2%-'"<#$2+)%):'#5'4%:%2"'#$'2<+'0$%"2
84/c7G"I"GMBOJGJBJ_F=<
84/c7G"I"A<>E@>?<ZJ>< 84/c7G
@?"A<>E@>?<ZJ><
2&4'D%Q&B%D
:D%Q&B%D
84/c7G"I""DKDB@GH@?F=<"DBJGG 2&4'D%Q&B%D
@?"B<OBM=@AFP<"DBJGG
84/c7G"I""DKDB@GH@?F=<"DBJGG
2&4'D%Q&B%D
J=P"B<OBM=@AFP<"DBJGG
$'&d'D%%(ED 84/c7G"I""J=>F098` 0
%DED'D4W(%D!%D """?<D<H>@?"*B@D)JP< 2&4'D%Q&B%D
d>E<?"*F@B@LFDJBG
J=P"P?ML"D@A*F=J>F@=G
5789:-4!#<O #/(.8B,9GD-6(5266.9GXG/B(A-,GA75(C,9(D-7(G/32ADG,/(,C(D97.D67/D(,C(L5,9G.DGA(.9D-9GDG5(G/@,8@G/B(D-7(L79GL-79.8(4,G/D5(.AA,93G/B(D,(975L,/57(,9
/,(975L,/570(EF#:;5(c(/,/5D79,G3.8(./DGIG/_.66.D,9N(392B5P(%Ed(c(D26,9(/7A9,5G5(C.AD,90
:D)SC(ED4H'CR'(C(% "#6+'#2<+$'-&"+"'%4+)2%U+4'#),L'&"'"+$#=
)+:&2%*+' #,%:#&$2<$%2%"' &$+' 3$#;&;,L' $+=
#'%"':%:F
#/397J(h7.D
&-2%*+' &$2<$%2%"1' "#' 2<&2' 2<+' 2$(+' %)-%=
4+)-+' &)4' 3$+*&,+)-+' &$+' 3$#;&;,L
#%(#(1>#E!&(
()4+$+"2%6&2+4.
c+&-2%*+' &$2<$%2%"' #--($"' &2' &)L' &:+1
&$:;&<:=>=1? ;(2'2L3%-&,,L'%"'&'4%"#$4+$'#5'L#():'&4(,2"
&:+4';+20++)'C7'&)4'Q7'L+&$"1';+%):'$&$+
c+&-2%*+' &$2<$%2%"' &33+&$"' 2#' &55+-2' &,,
%)' L#():' -<%,4$+)' &)4' %)' #,4+$' 3#3(,&=
3#3(,&2%#)"' 0#$,4=0%4+' 2<#(:<' 0%2<
2%#)".' T<%,4$+)' &33+&$' 2#' ;+' ,+""' ,%A+,L
*&$L%):' 3$+*&,+)-+' &)4' -,%)%-&,' &""#-%&=
2<&)' &4(,2"' 2#' 4+*+,#3' $+&-2%*+' &$2<$%2%"
2%#)".' ><+' +3%4+6%#,#:L' #5' 2<+"+' ($+= '7.ADG@7(.9D-9GDG5(G5(,/7(,C(D-7(5L,/3NI
+*+)'&52+$'&33&$+)2,L'3$#*#-&2%*+'+)2+$%-
2<$%2%"=&""#-%&2+4' &)4' :&"2$#%)2+"2%)&, 8,.9D-9,L.D-N(B9,2L(,C(.9D-9GDG3750(:D5(
%)5+-2%#)"1D187' &,2<#(:<' $+&-2%*+' &$2<$%2%"
5#$6"' #5' $+&-2%*+' &$2<$%2%"' %"' 4%"2%)-2. 37Y/G/B(C7.D297(G5(G/GDG.DG,/(SN(G/C7ADG,/T(
%)'-<%,4$+)'%"'0+,,'$+-#:)%X+4.'
><+'5#$6+$'3$+4#6%)&)2,L'&55+-2"'6&,+" 252.88N(G/(D-7(B7/GD,29G/.9N(,9(B.5I
G)'#(2;$+&A"'#5';&-2+$%&,'+)2+$%-'%)5+-=
&)4'#--($"'"3#$&4%-&,,L1'0<+$+&"'2<+',&2= D9,G/D75DG/.8(D9.AD0
2%#)" -&("+4' ;L' 4&-3#1*--&1 45%0*--&S' &)4
2+$' &55+-2"' 6&,+"' &)4' 5+6&,+"' +R(&,,L h7N(A8G/GA.8(C7.D2975(.97(.5N667D9GA(
C&3!.-#,&)+*$' $+&-2%*+' &$2<$%2%"' <&"' ;++)
&)4' #--($"' +%2<+$' %)' #(2;$+&A"' #$' "3#= .9D-9GDG5(.D(.(C7J(4,G/D5T(6,5D(,CD7/(D-7(
$+3#$2+4' %)' 8' 3+$-+)2' 2#' Q' 3+$-+)2.88' G)
$&4%-&,,L.' ><+' 3#""%;%,%2L' 2<&2' $+&-2%*+ V/77T(./V87T(,9(67D.D.95,L-.8./B7.8(
"#6+'#(2;$+&A"1'2<+'%)-%4+)-+'#5'&$2<$%2%"
&$2<$%2%"' 6&L' &,"#' 5#,,#0' $+"3%$&2#$L 4,G/D5T(7/D-75GDG5(DNLGA.88N(.D(D-7(#A-G8875(
%"'<%:<+$8C'&)4'%)'#2<+$"')#'-&"+"'&$+'4+=
2$&-2'%)5+-2%#)"'%"'()$+"#,*+4.' D7/3,/(,9(L8./D.9(C.5AG.(.DD.A-67/D5(D,(
2+-2+4' %)' "3%2+' #5' %)*#,*+6+)2' #5' &33&$=
N--($&2+'6+&"($+"'#5'2<+'%)-%4+)-+'#$ D-7(A.8A./726(./3(5.A9,G8GGDG50(
+)2,L' [&$2<$%2#:+)%-^' %)5+-2%#)".8P' J#6+
3$+*&,+)-+' #5' $+&-2%*+' &$2<$%2%"' &$+' )#2
#(2;$+&A"'#5'L+$"%)%#"%"'<&*+';++)'&""#= $5,9G.5GC,96(875G,/5(,/(D-7(5,875wV79.I
&*&%,&;,+.' ><+$+' &$+' "+*+$&,' $+&"#)"' 5#$
-%&2+4'0%2<'&'<%:<'3$+*&,+)-+'#5'$+&-2%*+ D,3796.(S87/,99-.BGA26w,9(L7/G5wAG9I
2<%"1')#2&;,L'2<+'0%4+'*&$%&;%,%2L'%)'-,%)=
&$2<$%2%"' 0<+$+&"' %)' #2<+$"' &$2<$%2%"' <&" AG/.D7(S.8./GDG5w,AA29(G/(,/7ID-G93(,C(
%-&,' 3$&-2%-+' #5' 2<+' &33,%-&2%#)' #5' 2<%"
)#2' ;++)' $+-#$4+4.8C18P' G2' %"' ()-,+&$' 2# L.DG7/D5(./3(G/_.66.D,9N(7N7(3G57.57(G5(
4%&:)#"%"1',%)A+4'0%2<'*&$%&2%#)"'%)'$+-=
0<&2'+K2+)2'2<%"'*&$%&;%,%2L'%"'&22$%;(2&;,+ L9757/D(G/(.(5G6G8.9(L9,L,9DG,/0(f97D-9GDG5(
#:)%2%#)' &)4' 4+6#)"2$&2%#)' #5' 3$+-%3%=
2#';&-2+$%&,1'#2<+$'+)*%$#)6+)2&,1'&)4'2# 6.N(,AA29(JGD-(,9(JGD-,2D(29,B7/GD.8(
2&2%):'%)5+-2%#)".'d#$+#*+$1'6&)L'-&"+"
<#"2'5&-2#$".' G/C7ADG,/0
&$+'6%,4'&)4':#'()$+-#:)%X+4.'G2'%"'-,+&$
N6#):' 6+)' 0%2<' )#)=:#)#-#--&, %-7(L9757/A7(,C(">#IjO^(L973G5L,575(D,(
2<&2' 2<+' 3$+*&,+)-+' #5' $+&-2%*+' &$2<$%2%"
:+)%2#($%)&$L'%)5+-2%#)"1'$+&-2%*+'&$2<$%= D-7(37@78,L67/D(,C(97.ADG@7(.9D-9GDG50
-#$$+,&2+"' 0%2<' 2<+' 3$+*&,+)-+' #5' /SN=
2%"'4+*+,#3"'%)'&33$#K%6&2+,L'8'3+$-+)2
\CZ' &)4' 0%2<' +K3#"($+' 2#' A)#0)' %)%2%= 1"%@+#$%%"T )"@!9%+A"32$*T 1-5;$%%"T
2#'P'3+$-+)2i8Q18M')#'&--($&2+'3$+*&,+)-+
&2%):'%)5+-2%#)".81C'G)'F%),&)41'2<+'&))(&, B$*/5#5"T(./3()-%"@9.5"(G/C7ADG,/5(.97(
#$'%)-%4+)-+'4&2&'&$+'&*&%,&;,+'5#$'0#6+)
%)-%4+)-+' #5' $+&-2%*+' &$2<$%2%"' &52+$ L.9DGA28.98N(D-,2B-D(D,(D9GBB79(97.ADG@7(
0%2<' :+)%2#($%)&$L' %)5+-2%#)"1' 2<#(:<
;#0+,' #$' :+)%2#($%)&$L' %)5+-2%#)"' 0&" .9D-9GDG5T(S2D(,D-79(G/C7ADG,/5(6.N(.85,(.AD(
$+&-2%*+' &$2<$%2%"' %"' 3$#;&;,L' ()4+$=
5#()4'2#';+'&33$#K%6&2+,L'P7h87717771P .5(G/GDG.D,950
$+-#:)%X+4'%)'2<%"':$#(3.'
0<+$+&"' Y+$6&)' U:($+"' +"2%6&2+' & <,5D(7LG5,375(,C(97.ADG@7(.9D-9GDG5(975,8@7(
3$+*&,+)-+'U:($+'#5'87h8771777.Q'N'g#$= 5L,/D./7,258N(JGD-G/()O(6,/D-5T(JGD-(
0+:%&)' "2(4L' 5#()4' 2<+' &))(&,' %)-%= &%:=>=1?
6G/G6.8(57U278.7T(S2D(2L(D,(,/7I-.8C(,C(
4+)-+'#5'3#"2+)2+$%-'$+&-2%*+'&$2<$%2%"'2# !,/A7LD(,C('7.ADG@7(#9D-9GDG5 D-,57(.CC7AD73(6.N(37@78,L(.(97A2997/A70(
;+' Mh8771777' &)4' #5'3#"2-<,&6L4%&,' $+=
&-2%*+' &$2<$%2%"' 2#' ;+' Q.Hh87717771M ><+'2+$6'$*&)+%2*'&$+5$%+%"'%63,%+"'&'-,%)%=
0<+$+&"'%)'2<+'I)%2+4'J2&2+"1'2<+'&))(&, -&,,L'-<&$&-2+$%"2%-'$+&-2%#)'2#'&'3$+-%3%= 4%-&2+' 2<+' ,%A+,L1' %5' <L3#2<+2%-1' ,%)A' ;+=
&:+=&4b("2+4' %)-%4+)-+' <&"' ;++)' $+= 2&2%):' %)5+-2%#).' F#$' 3$&-2%-&,' 3($3#"+"1 20++)' &)' %)%2%&2%):' %)5+-2%#)' &)4' 2<+
3#$2+4' 2#' ;+' P.Mh8771777.H' G2' %"' 6#$+ 2<+' -,%)%-&,' +)2%2L' %"' 2<+' "&6+' &"' c+%2+$ "(;"+R(+)2'&"+32%-'&$2<$%2%".'><+'-#)4%=
-#66#)' %)' "#6+' -%$-(63#,&$' &)4 "L)4$#6+.'><+'2+$6'0&"'%)2$#4(-+4';L 2%#)'6&L';+"2';+'4+U)+4';L'&'6#4%U-&=
g#$2<' N6+$%-&)' 3#3(,&2%#)"1Z' &)4' %) N<*#)+)'&)4'-#,,+&:(+"'%)'8DZQ8H 2#'%)= 2%#)'#5'2<+%$'4+"-$%32%#)''&"'[&$2<$%2%"'&"=
I+*
"#-%&2+4'0%2<'%)5+-2%#)'+,"+0<+$+'%)'2<+ C&3!.-#,&)+*$S' 4&-3#1*--&S' &)4' T*$"%1%& #5' 6&$A+4' %66()#"(33$+""%#).QH1QZ' ><+
;#4L' ;(2' 0%2<#(2' *%&;,+' 6%-$##$:&)= ;&-2+$%&'&"';+%):',%A+,L'-&("+"'#5'$+&-2%*+ 3$+*&,+)-+'#5'$+&-2%*+'&$2<$%2%"'&33+&$"'2#
%"6"' %)' 2<+' b#%)2.^' 6*%+*$' ".17$#3*' <&" &$2<$%2%".CC`P7'J6&,,'"2(4%+"'&)4'&)+-4#2&, *&$L' &6#):' 4%55+$+)2' 3#3(,&2%#)"V' %)
;++)'$+4+U)+4'6#$+'$+-+)2,L'&"'[&)'+3%= $+3#$2"'<&*+'&,"#'%63,%-&2+4'&'0%4+'$&):+ "#6+';,&-A'N5$%-&)'3#3(,&2%#)"1'2<+'<%:<
"#4+'#5'3+$%3<+$&,'&$2<$%2%"'#5'6#$+'2<&) #5'#2<+$';&-2+$%&'&)41'#--&"%#)&,,L1'#2<+$ 3$+*&,+)-+' #5' /Ga' %)5+-2%#)' <&"' ;++)
8'6#)2<j"'4($&2%#)'#--($$%):'%)'&""#-%&= 6%-$##$:&)%"6"'%)'2<+'-&("&2%#)'#5'$+&-= ,%)A+4' 0%2<' &)' %)-$+&"+4' 3$+*&,+)-+ #5
2%#)' 0%2<' ($+2<$%2%"' &)4h#$' -+$*%-%2%".^8Z 2%*+' &$2<$%2%"1P8' 2<#(:<' 2<+%$' 2$(+' $#,+' %" $+&-2%*+' &$2<$%2%".9' G)' g#$2<' N6+$%-&)
O<+)'#),L'20#'#5'2<+'2<$++'5+&2($+"'#5 )#2' +"2&;,%"<+4.' T<%+5' &6#):' 2<+"+' &$+ &)4' ?($#3+&)' 3#3(,&2%#)"1' -,%)%-&,' 5+&=
2<+' -,&""%-' c+%2+$' "L)4$#6+' 2$%&4' &$+ 4%&$$<+&=&""#-%&2+4' %,,)+""+"1' %)-,(4%): 2($+"' #5' 2<+' &$2<$%2%"' &$+' 2L3%-&,' #5' 2<&2
3$+"+)21' 2<+' 2+$6' %1)#3!-*+*' 6*%+*$' ".1> &)2%;%#2%-' &""#-%&2+4' -#,%2%"' 4(+' 2#' #*+$= 5#()4' %)' /Ga=)+:&2%*+' %)4%*%4(&,"' &,=
7$#3* %"' "#6+2%6+"' ("+4.89' \#2<' -#6= :$#02<' #5' C-#"+$%7%(3' 7%QU)%-*S' 2<#(:< 2<#(:<' 3"#$%&"%"' 6&L' ;+' +"3+-%&,,L' +K=
3,+2+' &)4' %)-#63,+2+' c+%2+$' "L)4$#6+ 2$&*+,+$j"' 4%&$$<+&1' %)' 0<%-<' )#' "3+-%U- 2+)"%*+'&)4'"+*+$+.'N6#):'/Ga=%)5+-2+4
"<#(,4' ;+' -#)"%4+$+4' 2#' ;+' %)"+3&$&;,+ 6%-$##$:&)%"6' %"' %63,%-&2+41' <&"' &,"# ;,&-A' N5$%-&)"1' -,%)%-&,' -<&$&-2+$%"2%-"
5$#6'$+&-2%*+'&$2<$%2%". ;++)',%)A+4'0%2<'+3%"#4+"'#5'$+&-2%*+'&$= 6&L';+'&2L3%-&,'%)'2<&2'6#$+'b#%)2"'2+)4
c+&-2%*+'&$2<$%2%"'<&"';++)'"(;4%*%4+4 2<$%2%".PC'\&-2+$%&'"2$#):,L',%)A+4'2#'$+&-= 2#';+'&55+-2+4'&)4'2<+'-#($"+'6&L';+'&-=
%)2#' "+K(&,,L' &-R(%$+4' $+&-2%*+' &$2<$%2%" 2%*+'&$2<$%2%"'"<&$+'2<+'3$#3+$2L'#5'3+$"%"2= -+,+$&2+4' 0%2<' $&3%4' b#%)2' 4+"2$(-2%#).Q9
BJNcNE8D &)4' 3#"2=4L"+)2+$%-' &$2<$%2%" %):' %)' 6&-$#3<&:+' +)4#"#6+".' ><+"+ O<+2<+$' /Ga' %)5+-2%#)' &-2(&,,L' -#)2$%;=
#$' +)2+$%-' $+&-2%*+' &$2<$%2%".' C5-&3.7%&> %)-,(4+ 4&-3#1*--&' *1+*$%+%7%"S' 4O' +.!5%3(> (2+"'4%$+-2,L'2#'2<+'4+*+,#36+)2'#5'$+&-=
%17()*7' &$+5$%+%"' <&"' ;++)' ("+4' 2#' $+5+$ $%(3S' &)4' 4O' 5*%7*-,*$0V 45%0*--&' <*E1*$% 2%*+' #$' &)L' 5#$6' #5' &"+32%-' &$2<$%2%"' $+=
"3+-%U-&,,L' 2#' $+&-2%*+' &$2<$%2%"' 2<#(:<2 2L3+"'8;'&)4'C&1'&)4'4O'7."*1+*$%&*';(2')#2 6&%)"'()-+$2&%)i'<#0+*+$1'+*%4+)-+'2<&2
2#';+'2$%::+$+4'"3+-%U-&,,L';L'&'-<,&6L4= 4O' "#11*%V T*$"%1%&' *1+*$#)#-%+%)&' &)4' TO 2<+' %)-%4+)-+' #5' &$2<$%2%"' %"' $+4(-+4' ;L
%&,' %)5+-2%#)C7' &)4' !#"+>"+$*!+#)#))&-' $*&)> !"*(7#+(,*$)(-#"%"V C&3!.-#,&)+*$'Q*+("V'&)4 <%:<,L' &-2%*+' &)2%$+2$#*%$&,' 2<+$&3LQD' %"
+%2*'&$+5$%+%"'<&"';++)'("+4'2#'4+"-$%;+'&$= CO'7%QU)%-*.'N6#):'2<+'4&-3#1*--&'&)4'45%> -#)"%"2+)2'0%2<'&'4%$+-2'+55+-2'#5'/Ga'#)
2<$%2%"1'0%2<'5+&2($+"'$+"+6;,%):'$+&-2%*+ 0*--&' %)5+-2%#)"' 2<&2' $+"(,2' %)' c+%2+$' "L)= 2<+'4+*+,#36+)2'#5'&$2<$%2%".'N"'%)')#)`
&$2<$%2%"1' &""#-%&2+4' 0%2<' "2$+32#-#--&, 4$#6+'2<+$+'%"'&'$+3#$2+4'-#))+-2%#)';+= /Ga=&""#-%&2+4'-&"+"1'%2'6&L';+'%63#""%=
2<$#&2'%)5+-2%#).C8 20++)' 2<+' &;%,%2L' 2#' %)4(-+' c+%2+$ ;,+' 2#' 4%55+$+)2%&2+' ;+20++)' $+&-2%*+' &$=
><+' 2+$6' !#"+>%1Q*)+%2*' &$+5$%+%"' %"' &,"# "L)4$#6+'&)4'2<+'3$+"+)-+'#5' &'4%"2%)-= 2<$%2%"1'3"#$%&2%-'&$2<$%2%"1'&)4'()4%55+$+)=
("+4' 2#' $+5+$' 2#' &"+32%-' &$2<$%2%"' &52+$' & 2%*+'3,&"6%4.PP'?K2+)"%*+'"2(4%+"'#5':+)%= 2%&2+4'"3#)4L,#&$2<$#3&2<L.M7
4+U)+4' +3%"#4+' #5' %)5+-2%#)1' &)4' %)= 2&,=2$&-2' %)5+-2%#)' <&*+' &,"#' %)4%-&2+4' &
-,(4+"'"#6+'5#$6"'#5'6+)%):#-#--&,'&$= ,%A+,L'"%6%,&$'$#,+'5#$'C5-&3.7%& +$&)5#3&>
2<$%2%".' c+&-2%*+' &$2<$%2%"' %"' &""#-%&2+4 +%" 0<%-<'-&)';+'%"#,&2+4'5$#6'2<+':+)%2&, 17/7DGA(d.AD,95
0%2<' -<&$&-2+$%"2%-' -,%)%-&,' &)4' :+)+2%- 2$&-2' %)' PM' 3+$-+)2' 2#' M7' 3+$-+)2' #5 N,2<#(:<' 6#"2' 3&2%+)2"' 4#' )#2' :%*+' &
5+&2($+"' &)4' "#' %"' "+3&$&2+4' 5$#6' 3#"2= -&"+"1PQ`PZ'&"'%)'()-#63,%-&2+4')#)=:#)#= 5&6%,L' <%"2#$L' #5' $+&-2%*+' &$2<$%2%"' #$' &
%)5+-2%*+' &$2<$%2%"' #)' 2<&2' ;&"%".' /#0= -#--&,'($+2<$%2%".'J+*+$&,'"2(4%+"'<&*+'%6= $+,&2+4'4%"+&"+1':+)+2%-'"("-+32%;%,%2L'2#
+*+$1'2<+$+'%"')#'-,+&$'"+3&$&2%#)';+20++) 3,%-&2+4' #2<+$' :+)%2#($%)&$L' 3&2<#:+)"1 $+&-2%*+'&$2<$%2%"'-#)5+$$+4';L'/SN=\CZ
$+&-2%*+'&)4'3#"2=%)5+-2%*+'&$2<$%2%". J%6= 3&$2%-(,&$,L A*%""*$%&' 0#1#$$5#*&*P91PD &)4 %"'0+,,'$+-#:)%X+4.'><+$+'%"'"#6+'-#$$+=
%,&$,L1' "#6+' -#)4%2%#)"1' )#2&;,L' SL6+ 3#""%;,L' 6L-#3,&"6&"Q71Q8' %)' 2<+' -&("&= ,&2%#)' ;+20++)' 2<+' 3$+*&,+)-+' #5' /SN=
&$2<$%2%"1' &33+&$' 2#' "<&$+' 5+&2($+"' 0%2< 2%#)'#5'$+&-2%*+'&$2<$%2%"'&)4'#2<+$'%)W&6= \CZ' %)' &'3#3(,&2%#)'&)4'2<+' 3$+*&,+)-+
$+&-2%*+'&)4' 3#"2=%)5+-2%*+'&$2<$%2%"' ;(21 6&2#$L' &$2<$%2%4+"' ;(2' 2<+' )&2($+' #5' 2<+ #5' $+&-2%*+' &$2<$%2%"' &)4' #2<+$' "3#)4L=
&2' ,+&"2' %)' "#6+' -&"+"1' &$+' &""#-%&2+4 ,%)A'$+6&%)"'()-+$2&%).' ,#&$2<$#3&2<%+"1'2<#(:<'/SN=\CZ'%"')#2
0%2<'*%&;,+'6%-$##$:&)%"6"'%)'2<+'b#%)2. J+32%-'&$2<$%2%"'-&("+4';L'6%-$##$:&)= +""+)2%&,'5#$'4%"+&"+.
><("1' "(-<' -#)4%2%#)"' "<#(,4' ;+' $+= %"6"' &,"#' &""#-%&2+4' 0%2<' $+&-2%*+' &$= ><+'3$+*&,+)-+'#5'/SN=\CZ'&)4'$+&-=
:&$4+4' &"' 3$%6&$%,L' %)5+-2%*+' #$' ,#0= 2<$%2%"1' )#2&;,L' 4&-3#1*--&1 C&3!.-#> 2%*+'&$2<$%2%"'*&$%+"'&$#()4'2<+'0#$,4.Z1M8
:$&4+'"+32%-'&$2<$%2%".'><+'2+$6'3%)$#"*!> ,&)+*$S'&)4'A*%""*$%&'0#1#$$5#*&*'6("2';+ G)'<+&,2<L'T&(-&"%&)'3#3(,&2%#)"1'/SN=
+%)'&$+5$%+%"'<&"';++)'("+4. 4%"2%):(%"<+4'5$#6'&"+32%-'4%"+&"+. \CZ'%"'3$+"+)2'%)'Z'3+$-+)2'2#'D'3+$-+)2i
G)' "3%2+' #5' 2<+' -#)5("%):' 3,+2<#$&' #5 c+&-2%*+'&$2<$%2%"'6&L'#--($',%)A+4'2# 2<+':+)+';+%):'4+2+-2+4'%)'QM'3+$-+)2'2#
2+$6"1'%2' %"' %)+"-&3&;,+'2<&2'$+&-2%*+' &$= %)5+-2%*+'"L632#6"1';(2'0%2<#(2'%4+)2%= 97'3+$-+)2'#5'2<#"+'0%2<'$+&-2%*+'&$2<$%=
2<$%2%"'$+3$+"+)2"'&)'#*+$&$-<%):1'%5'*&$%= U+4' 3&2<#:+)".' G)' "#6+' %)"2&)-+"1' +*%= 2%".'O<+$+'2<+'3$+*&,+)-+'#5'/SN=\CZ'%"
&;,+1'-#)4%2%#)'0%2<'-<&$&-2+$%"2%-'-,%)%= 4+)-+' #5' %)5+-2%#)' 6&L' ;+' &;"+)2' ;+= ,#01' &"' %)' "#6+' )&2%*+' 3#3(,&2%#)"' #5
-&,'&)4':+)+2%-'5+&2($+"'&)4'+"2&;,%"<+4 -&("+' 2<+' "L632#6"' #5' %)5+-2%#)' 0+$+ J#(2<'N6+$%-&1'N("2$&,%&1'&)4'J#(2<+$)
,%)A&:+' 0%2<' %)5+-2%#).' _;"+$*&2%#)"' #5 6%,4' #$' 2$%*%&,' "#' 2<&2' 2<+' 3&2%+)2' 0&" N5$%-&1' 2<+' ,%A+,%<##4' #5' $+&-2%*+' &$2<$%=
5&6%,%&,' -,("2+$%):' &)4' "<&$+4' -,%)%-&, )#2' &0&$+' #5' 2<+6.' g+*+$2<+,+""1' -&$+ 2%"'%"'&,"#',#0.'T#)*+$"+,L1':$#(3"'0%2<
&)4' :+)+2%-' 5+&2($+"' b("2%U+"' 2<+' %)-,(= "<#(,4';+'2&A+)'2#'$+"2$%-2'2<+'("+'#5'2<+ &' <%:<' /SN=\CZ' 3$+*&,+)-+1' "(-<' &"
"%#)' #5' $+&-2%*+' &$2<$%2%"' 0%2<%)' 2<+ 2+$6'2#'+3%"#4+"'#5'&$2<$%2%"'-#)5#$6%): "#6+' ?"A%6#1' g&2%*+' N6+$%-&)1' &)4
"3#)4L,#&$2<$%2%"'5&6%,L.' 2#' &' "3#)4L,#&$2<$#3&2<L' 2+63#$&,,L d+,&)+"%&)' B+.:.1' !&3(&' g+0' Y(%)+&)E
&""#-%&2+4' 0%2<' &' $+-#:)%X+4' %)%2%&2%): 3#3(,&2%#)"1'$+&-2%*+'&$2<$%2%"1'&)4'#2<+$
%)5+-2%#("'+*+)2.' "3#)4L,#&$2<$#3&2<%+"' &$+' 6#$+' -#6=
:/GDG.DG/B(:/C7ADG,/5
6#).'g#)+2<+,+""1'"#6+'/SN=\CZ'3#"%=
><+' ()4+$"2&)4%):' #5' $+&-2%*+' &$2<$%2%" "26./(:662/,37YAG7/AN( 2%*+'%)4%*%4(&,"'4#')#2'4+*+,#3'&$2<$%2%"
&"' &' 4%"+&"+' -&("+4' ;L' -+$2&%)' ;&-2+$%&, kG925(:/C7ADG,/ +*+)'4($%):'&'A)#0)'2$%::+$'%)5+-2%#).MC
%)5+-2%#)"' %"' ;&"+4' #)' #;"+$*&2%#)"' #5 N6#):' 2<+' 6&)L' /SN=\CZ' "(;=
&""#-%&2%#)"1' )#2' #)' -,+&$' ()4+$"2&)4= c+&-2%*+' &$2<$%2%"' &)4' #2<+$' 5#$6"' #5' %)= :$#(3"1' )#2' &,,' <&*+' ;++)' 4+2+-2+4
%):' #5' 3&2<#:+)+2%-' 6+-<&)%"6".' J2(4= W&66&2#$L' &$2<$%2%"' 6&L' #--($' %)' /Ga= &6#):' $+&-2%*+' &$2<$%2%"' 3&2%+)2".'/#0=
%+"'#5'#(2;$+&A"'<&*+'%4+)2%U+4'45%0*--&S %)5+-2+4'%)4%*%4(&,"'+*+)'%)'2<+'3$+"+)-+ +*+$1' 2<+$+' %"' )#' -,+&$' ,%)A&:+' ;+20++)
I+;
&)L' %)4%*%4(&,' \CZ' "(;:$#(3' &)4' $+&-= !"#$%&,2)'
2%*+'&$2<$%2%". &'"."=;*.#+;#=+%-:%2<-(TD$-".;'.-<";'D"
G)'&44%2%#)'2#'/SN=\CZ1'#2<+$'%)-#6=
3,+2+,L' 4+U)+4' :+)+"' &33+&$' 2#' ;+' %)= 5@2&@182`3136/1 43!360& 3N6?/G/?60&@1/?
*#,*+4.'G)'"#6+'5&6%,%+"'0%2<'/SN=\CZ1 :/_.66.D,9N(,8GB,.9D-9GDG5 FVG/i62A,5.8(L5,9G.5G5
2<+$+' %"' &' "2$#):' 5&6%,%&,' &::$+:&2%#)' #5 &/D-75GDG5 17/GD,29G/.9N(G/_.66.DG,/
c+%2+$' "L)4$#6+' 0%2<#(2' &)AL,#"%): F.A9,G8GGDG5 ">#IjO^ :/_.66.D,9N(S,J78(3G57.57
"3#)4L,%2%"1' 0<+$+&"' %)' #2<+$' 5&6%,%+"1 FL,/3N8GDG5 :/_.66.D,9N(7N7(3G57.57
2<+'#33#"%2+'%"'2<+'-&"+.Z'N'"%6%,&$'4%*+$= ;.ADN8GDG5 !.93GDG5
:+)-+' ;+20++)' c+%2+$' "L)4$#6+' &)4
.=/7(,9(6,97(625A28,5V787D.8(875G,/5(,CD7/(,AA299G/B(G/(.55,AG.DG,/(JGD-(,/7(,9(6,97(A-.9.AD79G5DGA(
&)AL,#"%):'"3#)4L,%2%"'%"'+*%4+)2' &6#):
-+$2&%)' :$#(3"' #5' N6+$%-&)' G)4%&)"' &)4 7MD9.I.9DGA28.9(875G,/5T(J-GA-(6.N(S7(52SA8G/GA.8T(JGD-(/7B.DG@7(D75D5(C,9(.2D,./DGS,3G75T(G/A823G/B(9-72I
6.D,G3(C.AD,90
G)(3%&2' ?"A%6#"1' %)' 0<#6' /SN=\CZ' %"
3$+*&,+)2.' c+%2+$' "L)4$#6+h$+&-2%*+' &$=
2<$%2%"1';(2')#2'&)AL,#"%):'"3#)4L,%2%"1'%" &)2%:+)"' ;L' &)2%:+)' 3$+"+)2%):' -+,," 2<L' B>&;,+' C7=8E' %)' :+)+$&,1' 2+63#$&,,L
-#66#)' &6#):' g&*&b#' &)4' G)(3%&2' G)= 0%2<%)'2<+'b#%)2HM'&)4'2<+'3$+"+)-+'#5'"+)= ,%)A+4' 2#' &' $+-#:)%X+4' 3$+-%3%2&2%):' %)=
4%&)"1'0<+$+&"'2<+'/&%4&'&)4'!%6&'<&*+ "%2%X+4' >' ,L63<#-L2+"' %)' 2<+' b#%)2HH`H9 5+-2%#).'><+'%)2+$*&,';+20++)'2<+'#)"+2
&'<%:<'5$+R(+)-L'#5'&)AL,#"%):'"3#)4L,%= <&*+' &,,' ;++)' -%2+4' &"' "(33#$2%):' -&("&, #5'"L632#6"'#5'%)5+-2%#)'&)4'2<+'#)"+2
2%"';(2')#2'$+&-2%*+'&$2<$%2%".' $#,+"' #5' "3+-%U-' ;&-2+$%&' %)' %)4%*%4(&, #5'"L632#6"'#5'&$2<$%2%"'6&L';+'(3'2#'P
/SN=\CZ' %"' &""#-%&2+4' 0%2<' 4%"+&"+ -&"+".HD1Z7'J(::+"2%*+'&"'2<+"+'3%+-+"'#5'+*= 6#)2<"' ;(2' %"' 2L3%-&,,L' ,+""' 2<&)' 8
"+*+$%2L.'d&)L'3&2%+)2"1'+"3+-%&,,L'2<#"+ %4+)-+'&$+1'<#0+*+$1'2<+L',+&*+'2<+'A+L'%"= 6#)2<.' ><+' -#)4%2%#)' ("(&,,L' +*#,*+"
0%2<' "<#$2=,%*+4' #$' 6%,4' 4%"+&"+1' &$+ "(+"'()$+"#,*+4.'G2'"++6"',%A+,L'2<&2';&-= $&3%4,L'#*+$'8'2#'P'0++A"1'*&$L%):'%)'"+=
/SN=\CZ' )+:&2%*+.' /SN=\CZ' 3#"%2%*%2L 2+$%&,' -#63#)+)2"' %)' 2<+' -%$-(,&2%#)' 6&L *+$%2L' 5$#6' 6%,4' &$2<$&,:%&' 2#' "+*+$+,L
%"' &""#-%&2+4' 0%2<' 6#$+' "+*+$+' "L63= +)2+$' %)W&6+4' b#%)2"' )#)="3+-%U-&,,LZ8 4%"&;,%):'3#,L&$2<$%2%".
2#6"' &)4' b#%)2' 4&6&:+1' 3$#,#):+4 &)4' 2<&2' 6&)L' ;&-2+$%&' 5#()4' 0%2<%) N-(2+' 3&%)' &)4' "0+,,%):' &2' &' A)++' #$
-#($"+1' :$+&2+$' $%"A' #5' -<$#)%-%2L1' &)4 b#%)2"'6&L';+')#)="3+-%U-.ZC1ZP 6+2&2&$"#3<&,&):+&,' b#%)2' %"' 2<+' 6#"2
2<+' "(;"+R(+)2' 4+*+,#36+)2' #5' &)AL= I)4+$"2&)4%):' #5' 3&2<#:+)+2%-' 6+-<&= -#66#)'3$+"+)2&2%#).'@&-2L,%2%"'&2'&'2#+
,#"%):'"3#)4L,%2%".MP )%"6"'%)'$+&-2%*+'&$2<$%2%"'%"1'%)'"3%2+'#5'2<+ B"&("&:+'2#+i'F%:.'C7=8E'#$'<++,'3&%)'4(+
/Ga=%)5+-2+4' T&(-&"%&)"' 0%2<' $+&-= 2&)2&,%X%):'3$#"3+-2"'#55+$+4';L'/SN=\CZ 2#' +)2<+"%2%"' &2' 2<+' 3,&)2&$' 5&"-%&' #$
2%*+' &$2<$%2%"' &$+' ("(&,,L' /SN=\CZ' 3#"%= &)4' "3+-%U-' ;&-2+$%&1' 5&$' 5$#6' -#63,+2+. N-<%,,+"' 2+)4#)' %)"+$2%#)' BF%:.' C7=CE' %"
2%*+1' 0<+$+&"' )#)=T&(-&"%&)"' 2+)4' 2# g(6+$#("'"2(4%+"'<&*+'&44$+""+4'2<+'3$#= &,"#' &' -#66#)' 3$+"+)2%):' 5+&2($+. I3=
;+'/SN=\CZ')+:&2%*+.QD1MQ -+""%):'&)4'3$+"+)2&2%#)'#5';&-2+$%&,'&)2%= 3+$',%6;'&$2<$%2%"'%"'$&$+'&)4'%)*#,*+6+)2
:+)"' &)4' 2<+' $+"3#)"+"' #5' T@9=3#"%2%*+ #5' #),L' #)+' #$' &' 5+0' b#%)2"' -#)2$&"2"
,L63<#-L2+"1' 0<%-<' 3$#-+""+"' &33+&$' 2# 0%2<' 2<+' 3%-2($+' #5' 2L3%-&,' $<+(6&2#%4
$#%"=1&E&F:F 3,&L'-$%2%-&,'$#,+"'%)'2<+'3&2<#:+)+"%"'#5'$+= 4%"+&"+.' N' 3&"2' <%"2#$L' #5' +L+' #$' b#%)2
N,2<#(:<' &' )(6;+$' #5' 6%-$##$:&)%"6" &-2%*+' &$2<$%2%"' &)41' 3+$<&3"1' #2<+$ 3$#;,+6"'#$'&'5&6%,L'<%"2#$L'#5'"3#)4L=
<&*+';++)'"2$#):,L',%)A+4'0%2<'2<+'-&("+ "3#)4L,#&$2<$#3&2<%+".' ><+' 3#2+)2%&,' #5 ,#&$2<$#3&2<L=$+,&2+4' 5+&2($+"1' %)-,(4=
#5' $+&-2%*+' &$2<$%2%"' &)4' 6&)L' #2<+$" *&$%#("';&-2+$%&,'3$+3&$&2%#)"'2#'%)4(-+'&$= %):'%)W&66&2#$L'+L+'4%"+&"+'&)4'&)AL=
0+&A,L'&""#-%&2+41'2<+$+'&$+')#'&4+R(&2+ 2<$%2%"' +K3+$%6+)2&,,L' %"' 0+,,' 4+6#)= ,#"%):'"3#)4L,%2%"1':%*+"'*%2&,'-,(+"'2#'2<+
:(%4%):' 3$%)-%3,+"' 2#' <+,3' 2#' +"2&;,%"<' #$ "2$&2+4'%)'&)%6&,'"L"2+6"'&)4'6#$+'$+-+)2 4%&:)#"%".'c+&-2%*+'&$2<$%2%"'%"'&'"L"2+6%-
$+5(2+'&'$#,+'5#$' &)L'"3+-%U-'6%-$##$:&)= "2(4%+"' 0%2<' /SN=\CZ' 2$&)":+)%-
%"6'&"'&'-&("&,'&:+)2.'T$%2+$%&'5#$'%)5+$$%): &)%6&,"ZQ1ZM' <&*+' &63,%U+41' ;(2' )#2' -,&$%=
-&("&,%2L' %)' $+&-2%*+' &$2<$%2%"' <&*+' ;++) U+41'2<+'-&"+'5#$'&'4%$+-2'$#,+'5#$';&-2+$%&'%)
3$#3#"+4MM';(2'5($2<+$'0#$A'%"')++4+4'2# &$2<$%2%"'%)'2<+'-#)2+K2'#5'/SN=\CZ.
-,&$%5L'2<+'"%2(&2%#).'N'2+63#$&,'$+,&2%#)= T($$+)2,L' )#' [5$#)2=$())+$^' 2<+#$L
"<%3' ;+20++)' %)5+-2%#)' &)4' &$2<$%2%"' 6&L "++6"'&;,+'2#'+K3,&%)'&,,'2<+'5+&2($+"'#5
3$#*%4+' "2$#):' +*%4+)-+' #5' -&("&,%2L' %) $+&-2%*+' &$2<$%2%".' ><+$+' %"' +*%4+)-+1
"#6+' #(2;$+&A"' ;(2' -&))#2' ;+' "++)' &" <#0+*+$1'2#'%63,%-&2+'&$2<$%2#:+)%-'3+3=
"(-<' %)' "3#$&4%-' -&"+".' ><+' %"#,&2%#)' #5 2%4+"1' 6#,+-(,&$' 6%6%-$L' ;+20++)' ;&-=
C5-&3.7%&' +$&)5#3&+%"' 5$#6' b#%)2' "&63,+" 2+$%&,' &)2%:+)"' &)4' 2<+' /SN=\CZ' 6#,+=
%)' +&$,L' "2(4%+"P8' &)4' 2<+' "(;"+R(+)2 -(,+1' &;+$$&)2' #$' 6%"5#,4+4' 5#$6"' #5
%4+)2%U-&2%#)' #5' -<,&6L4%&,' 6+6;$&)+ /SN=\CZ1'&"'0+,,'&"'&"3+-2"'#5')#)=&)2%=
3$#2+%)"1':+)#6%-'&)4'3,&"6%4'@gN'&)4 :+)=3$+"+)2%):' 5()-2%#)"' #5' 2<+' /SN=
cgN' %)' "L)#*%(6' &)4' "L)#*%&,' W(%4 \CZ'6#,+-(,+1'%)-,(4%):'&,2+$+4'%)2$&-+,=
5$#6 3&2%+)2"' 0%2<' $+&-2%*+' &$2<$%2%"MH`H7 ,(,&$' ;&-2+$%&,' A%,,%):' &)4h#$' 3$#-+""%):.
"2$#):,L' "(::+"2+4' 2<&2' 2<+' 6%-$##$:&)= ><+' %)W(+)-+' #5' )#)=/SN' :+)+"' 6&L
%"6"' %4+)2%U+4' -#(,4' ;+' 3$+"(6+4' 2# &,"#';+'%63#$2&)2.
-&("+'2<+'&$2<$%2%".'G2'%"'3#""%;,+'2<&2'%)2$&=
&$2%-(,&$' -<,&6L4%&+' &$+' *%&;,+.H8' J%6%=
,&$,L1' %4+)2%U-&2%#)' #5' 6+6;$&)+' 3$#2+%) !>:E:!#>(d:E;:E1F
&)4',%3#3#,L"&--<&$%4+'&)2%:+)"'5$#6'T*$> "G5D,9N(./3($9757/DG/B(d7.D2975
"%1%&'&)4'4&-3#1*--&';&-2+$%&'%)'b#%)2'6&2+=
$%&,' "(33#$2+4' 2<+' "&6+' -#)-,("%#).HC`HQ ><+' -<&$&-2+$%"2%-' 5+&2($+"' #5' $+&-2%*+ 5789:-4I+<! ;.ADN8GDG5( ,C( 57A,/3( D,7( Z5.2I
d#$+#*+$1' 2<+' 3$+"+)2&2%#)' #5' ;&-2+$%&, &$2<$%2%"'&$+'2<#"+'#5'"3#)4L,#&$2<$#3&= 5.B7(D,7[0
I+#
S+"%#)"'#)'2<+'"#,+"'6&L';+'6&$A+4,L'<L=
3+$A+$&2#2%-.' _$&,' 3"#$%&"%5#$6' ,+"%#)"
B:+#:$&3<%-' 2#):(+E' #--($' ()-#66#),L
&)4'3&%),+""'6(-#"&,'(,-+$"'6&L'#--($'#)
2<+' 2#):(+1' 3&,&2+1' ;(--&,' 6(-#"&1' &)4
,%3"i' 2<+L' &$+' ("(&,,L' 2$&)"%+)2' &)4' -&("+
,%22,+'#$')#'6#$;%4%2L.'/%"2#,#:%-&,,L1'A+$&=
2#4+$6&' ;,+))#$$<&:%-(6' %"' %)4%"2%)=
:(%"<&;,+' 5$#6' 3("2(,&$' 3"#$%&"%"1' ;+%):
-<&$&-2+$%X+4';L'<L3+$A+$&2#"%"'&)4'3&$=
&A+$&2#"%"1' +,#):&2%#)' &)4' <L3+$2$#3<L
#5' 2<+' $+2+' 3+:"1' :+)+$&,' +3%4+$6&,' <L=
3+$3,&"%&1'&)4'+K2+)"%*+')+(2$#3<%,%-'%)U,=
2$&2%#)'0%2<'5#$6&2%#)'#5'6%-$#&;"-+""+"
&)4' "3#):%5#$6' 3("2(,+"' B"++' T<&3.' C8E.
><+'<%"2#,#:%-'&33+&$&)-+'#5'-%$-%)&2+';&,=
&)%2%"'%"'"%6%,&$'2<#(:<'2<+'6#%"2',+"%#)'%)
()-%$-(6-%"+4' 6&,+"' %"' )#2' A+$&2%)%X+4.
d#(2<'(,-+$"'&$+'"%6%,&$,L'()A+$&2%)%X+4.
5789:-4I+<? !G9AG/.D7(S.8./GDG50 G)' 2<+' 3$+"+)-+' #5' /Ga' %)5+-2%#)1
A+$&2#4+$6&' ;,+))#$$<&:%-(6' 6&L' ;+
5789:-4I+<I #A-G8875(D7/3,/(S295GDG50 4%"2$%;(2+4'#*+$'2<+'+)2%$+';#4L1'&,"#'%)=
$#()4%):'+$L2<+6&.'G$$+:(,&$1'6#%"21'"(=
3+$U-%&,' (,-+$"' 5#$6' %)' 2<+' ()-%$-(6= *#,*%):' 2<+' 4%:%2"1' %)' &' 3&22+$)' 2<&2' $+=
4%"+&"+1' &,2<#(:<' 2<+' "+*+$%2L' *&$%+" -%"+4' 6&,+' &)4' 6&L' -#&,+"-+' 2#' :%*+' & "+6;,+"'2<&2'#5'3("2(,&$'3"#$%&"%"'&)4'%)
:$+&2,L.' d&,&%"+1' 5&2%:(+1' &)4' ,#0=:$&4+ -%$-%)&2+' 4%"2$%;(2%#)' B"++' F%:.' C7=PE. 2<+':$#%)'%)'2<+'3&22+$)'#5'%)*+$"+'3"#$%=
5+*+$' #$' 5+*+$%"<)+""' &$+' -#66#).' I)= ><+"+' (,-+$"' 6&L' #--&"%#)&,,L' ;+-#6+ &"%"' #$' "+;#3"#$%&"%".' ><+' A+$&2#4+$6&
-#66#),L1' &$2<$%2%"' 6&L' ;+' &--#63&= "+-#)4&$%,L'%)5+-2+4.'G)'2<+'-%$-(6-%"+4 ;,+))#$$<&:%-(6' ,+"%#)"' 6&L' ,&"2' 5#$
)%+4';L'<%:<'5+*+$'0%2<'&'6&$A+4'&-(2+ 6&,+1' 2<+' ,+"%#)"' +*#,*+' 2#' 5#$6' <&$4 0++A"' 2#' 6#)2<"1' 4%"&33+&$1' &)4' 2<+)
3<&"+'$+"3#)"+'"(::+"2%*+'#5'"+3"%". -$("2"' &)4' 3,&R(+".' T%$-%)&2+' *(,*%2%" $+-($.9Q' G)' 3&2%+)2"' 0%2<' /Ga' %)5+-2%#)1
JL632#6"'#5'%)5+-2%#)'6&L';+'3$#6%= <&"'&,"#';++)'4+"-$%;+4.9P &$2<$%2%"' 6&L' ;+:%)' &"' 2L3%-&,' $+&-2%*+
)+)21' 6%,41' #$' &;"+)2.' /+)-+1' 6+)' 0%2< ?K&6%)&2%#)' #5' 2<+' "#,+"' #5' 2<+' 5++2 &$2<$%2%"' ;(2' :$&4(&,,L' 2$&)"5#$6' %)2#
($+2<$%2%"' 6&L' 3$+"+)2' 2#' :+)%2#($%)&$L 6&L' $+*+&,' A+$&2#4+$6&' ;,+)#$$<&:%-(6 -<$#)%-'3"#$%&2%-'&$2<$%2%".
6+4%-%)+' 3<L"%-%&)"' ;+%):' ()&0&$+' #5 BF%:.'C7=QES'0<%-<'%"'"%6%,&$'2#'3&,6#3,&)= >L3%-&,' 3"#$%&2%-' )&%,' ,+"%#)"' 6&L' ;+
2<+'"%:)%U-&)-+'#5'$<+(6&2%-'"L632#6" 2&$'3("2(,#"%"'B"++'T<&3.'C8E1'%)'(3' 2#'8M "++)' &)4' 2L3%-&,' 3"#$%&2%-' 3,&R(+"' 6&L
&)4' *%-+' *+$"&.' G)' 6+)' 0%2<' JNcN1' &) 3+$-+)2'#5'3&2%+)2"'0%2<'JNcN.'><+'%)%2%&, #--($'+,"+0<+$+'#)'2<+';#4L.'
($+2<$&,'4%"-<&$:+1'0%2<'#$'0%2<#(2'4L"= ,+"%#)"'&$+'"6&,,'*+"%-,+"'#$'+$L2<+6&2#(" ?$L2<+6&' )#4#"(6' 6&L' #--($' ()=
($%&1'%"'("(&,,L'3$+"+)2'&)4'6#"2'3&2%+)2" 6&-(,+"' "($$#()4+4' ;L' &)' +$L2<+6&2#(" -#66#),L'&52+$'+)2+$%-'%)5+-2%#)"1'+"3+=
&$+'&;,+'2#':%*+'&)'&--($&2+'<%"2#$L'#5'$+= ;&"+1' 0<%-<' 6&L' -#&,+"-+.' ><+' *+"%-,+ -%&,,L T*$"%1%&'%)5+-2%#)1';(2'%"')#2'&""#=
-+)2' +K3#"($+' 2#' %)5+-2%#)1' %5' &"A+4' 4%= 0&,,' ;+-#6+"' 3$#:$+""%*+,L' 2<%-A+)+41 -%&2+4'0%2<'/SN=\CZ.
$+-2,L.' /#0+*+$1' :+)%2&,' 2$&-2' %)5+-2%#)" 5#$6%):'&'"6&,,'3&3(,+1')#4(,+1'#$'+*+)'&
%)' 0#6+)' &$+' 6#$+' #52+)' &"L632#= <#$)L'+K-$+"-+)-+.'><+'&33+&$&)-+'#5'2<+
6&2%-.'@%&$$<+&'&)4'&;4#6%)&,' 3&%)' &"= +,G/D(./3(&/D-75G5(>75G,/5
,+"%#)"' *&$%+"' 5$#6' &' "-&,%):' 3,&R(+=,%A+
"#-%&2+4'0%2<'&)'+3%"#4+'#5'&$2<$%2%"'&$+ 3$#-+""' 2<&2' $+"+6;,+"' 3("2(,&$' 3"#$%&"%" ><+' 6("-(,#"A+,+2&,' 3%-2($+' #5' $+&-2%*+
("(&,,L1';(2')#2'&,0&L"1'6%,4.'><+$+'6&L 2#' -#6;%)&2%#)"' #5' -$("2%):1' +K(4&2%#)1 &$2<$%2%"' 6&L' ;+' %)4%"2%):(%"<&;,+' 5$#6
;+' "L632#6&2%-' %)5+-2%#)' %)' 5&6%,L &)4' +$#"%#)' &""#-%&2+4' 0%2<' +$L2<+6&. 3"#$%&2%-'&$2<$%2%"'B"++'T<&3.'8DE.
6+6;+$"1'-,#"+' -#)2&-2"1'#$'"+K(&,'-#)=
2&-2".'I)-#66#),L1'5+&2($+"'#5'%)5+-2%#)
&$+' <%:<,L' &2L3%-&,i' :(2' %)5+-2%#)1' +"3+=
-%&,,L';L'T*$"%1%&1'6&L'6%6%-'&33+)4%-%=
2%"' #$' "&,3%):#=##3<#$%2%".' d#$+' -#6=
6#),L1'"L632#6"'&$+'6%,4'#$'&;"+)21'"#
2<&2'%)5+-2%#)'%"'#*+$,##A+4.
FVG/(./3(<2A,25(<76S9./7(>75G,/5
!"#$%&"%5#$6' "A%)' &)4' 6(-#("' 6+6=
;$&)+',+"%#)"'#--($'%)'(3'2#'#)+=2<%$4'#5
3&2%+)2"' 0%2<' JNcN' ;(2' %)' 5+0+$' #5
2<#"+' 0%2<' #2<+$' 5#$6"' #5' $+&-2%*+' &$=
2<$%2%".'T%$-%)&2+';&,&)%2%"'BF%:.'C7=PE'<&"
;++)' 4+"-$%;+4' %)' (3' 2#' PH' 3+$-+)2' #5
3&2%+)2".' G2' 6&L' &--#63&)L' 2<+' &-(2+
+3%"#4+'#$'#--($'%)'%"#,&2%#).'><+',+"%#)
%"'%)%2%&,,L'*+"%-(,&$'0%2<',%22,+'#$')#'"($= 5789:-4I+<L h79.D,3796.(S87//,99-.BGA260
I!+
d#)#&$2<$%2%"' #$' &"L66+2$%-' #,%:#&$= 3$+"(6+4' %)%2%&2%):' +*+)2.' TL"2%2%"' &)4 &$+')#2'()-#66#)'+&$,L'%)'4%"+&"+'0%2<
2<$%2%"'&55+-2%):'A)++"1'&)A,+"1'&)4'"(;2&= 3$#"2&2%2%"' 6&L' ;+' 3$+"+)2' &)4' -&) -<&):+"' %)-,(4%):' U$"2=1' "+-#)4=1' &)4
,&$' &)4' 6+2&2&$"#3<&,&):+&,' b#%)2"' &$+ "#6+2%6+"',+&4'2#'-#63,%-&2%#)"'"(-<'&" 2<%$4=4+:$++'<+&$2';,#-A1'J>="+:6+)2'&)4
2L3%-&,.'><+'-,%)%-&,'3%-2($+'-#)2$&"2"'0%2< "<$%)A%):' #5' 2<+' ;,&44+$.' F($2<+$6#$+1 >=' &)4' e=0&*+' -<&):+"' &)4' "%:)%U-&)2
$<+(6&2#%4'4%"+&"+';L'3$+4#6%)&)2,L'&5= 3+,*%-' %)W&66&2#$L' 4%"+&"+1' %)-,(4%): 4L"$<L2<6%&"'#--($$%):'%)'&33$#K%6&2+,L
5+-2%):' ,+:' b#%)2"' %)' &)' &"L66+2$%-' 5&"<= "&,3%):%2%"1'6&L'&$%"+'%)'0#6+)'0%2<'$+= M' 3+$-+)2' #5' 3&2%+)2".DQ1DM' ><+"+' &$+' ("(=
%#)i' <#0+*+$1' "6&,,' b#%)2' 4%"+&"+1' +"3+= &-2%*+' &$2<$%2%".9Z199' G)W&66&2%#)' #5' 2<+ &,,L'0%2<#(2'-,%)%-&,'"+R(+,&+.'
-%&,,L' &2' 2<+' 6+2&2&$"#3<&,&):+&,' b#%)2"1 ($#:+)%2&,'2$&-2'<&"'&'2+)4+)-L'2#'$+,&3"+ N"' %)' #2<+$' "3#)4L,#&$2<$#3&2<%+"1
6&L';+'+$#"%*+.'G)'"+*+$+'-&"+"1'+K2+)"%*+ 0%2<'#$'0%2<#(2'&33&$+)2'$+%)5+-2%#). &#$2%-' $##2' %)W&66&2%#)' 0%2<' #$' 0%2<=
+$#"%*+'4&6&:+'3$#4(-+"'"+*+$+1'$<+(6&= #(2'&#$2%-'*&,*+'4%"+&"+'%"'&)'%63#$2&)21
2#%4=,%A+'4+5#$6%2L1'0%2<'6&$A+4'"(;,(K= %5'()-#66#)1'5+&2($+.DH1DZ'JL632#6&2%-
&2%#)' &)4' *&,:("' 4+5#$6%2L' &2' 2<+' 6+2&=
1.5D9,G/D75DG/.8(:/@,8@767/D &#$2%-'*&,*+'4%"+&"+1':+)+$&,,L'%)-#63+=
2&$"#3<&,&):+&,'b#%)2".'_2<+$',&$:+'b#%)2"1 N-(2+' %)5+-2%*+' +)2+$%2%"' #$' -#,%2%"' 6&L1 2+)-+1' #--($"' %)' 8' 3+$-+)2' #5' 3&2%+)2"
"(-<'&"'2<+'<%3"'&)4'"<#(,4+$"1'6&L'&,"# "%6%,&$'2#'($#:+)%2&,'%)5+-2%#)"1';+'2<+'+2%= &)4' %"' &)'%63#$2&)2'-&("+'#5'6#$;%4%2L
;+'%)*#,*+4'&)4'3+$"%"2+)2'&$2<$%2%"'&2'2<+ #,#:%-'2$%::+$%):'+*+)2.'G2'<&"';+-#6+'&3= &)4'6#$2&,%2L.'
A)++' 6&L' ;+' &""#-%&2+4' 0%2<' <(:+' +55(= 3&$+)21'<#0+*+$1'2<&21'&"'%)'2<+'($#:+)%2&,
"%#)"'&)4'2<+'5#$6&2%#)'#5'&'\&A+$j"'-L"2. "L"2+61' 2<+' +3%2<+,%(6' #5' 2<+' %)2+"2%)+
c(32($+' #5' &' \&A+$j"' -L"2' 6&L' 6%6%-
=D-79(FN5D76GA(<./GC75D.DG,/5
6&L' 5#$6' 3&$2' #5' 2<+' $+&-2%*+' 4%"+&"+' %2=
4++3'*+%)'2<$#6;#"%". "+,5.' G,+#-#,#)#"-#3%-' "2(4%+"' <&*+' 4+6= g(6+$#("' #2<+$' ,+"%#)"' <&*+' ;++)' 4+=
!&%)'%)'2<+';(22#-A1'#52+)'4+"-$%;+4'&" #)"2$&2+4' 2<&2' %)' "#6+' 3&2%+)2"' 0%2<' +"= "-$%;+4' &)+-4#2&,,L' %)' 3&2%+)2"' 0%2<' $+=
%)'2<+'[<%31^'6&L';+'4(+'2#'&-(2+'"&-$#%,%= 2&;,%"<+4' $+&-2%*+' &$2<$%2%"1' %$$+"3+-2%*+' #5 &-2%*+' &$2<$%2%"' #$' c+%2+$' "L)4$#6+.
%2%".' J&-$#%,%%2%"' %"' 4%5U-(,2' 2#' 4%&:)#"+ 2<+'3$+"(6+4'3$+-%3%2&2%):'%)5+-2%#)1'6&-= ><+"+' %)-,(4+' :,#6+$(,#)+3<$%2%"' &)4
&-(2+,L1'&"'"%6%,&$'"L632#6"'6&L';+'$+= $#"-#3%-' #$' 6%-$#"-#3%-' %)W&66&2#$L' ,+= %66()#:,#;(,%)'N')+3<$#3&2<L1'0<%-<
5+$$+4'5$#6')#)=%)W&66&2#$L',+"%#)"'%) "%#)"'%)'2<+'"6&,,'#$',&$:+'%)2+"2%)+1'$+"+6= "+,4#6' ,+&4"' 2#' 3+$6&)+)2,L' %63&%$+4
2<+' ,(6;#"&-$&,' "3%)+.' c&4%#:$&3<"' &$+ ;,%):' (,-+$&2%*+' -#,%2%"' #$' T$#<)' 4%"+&"+ $+)&,' 5()-2%#)1' 3+$%3<+$&,' )+($#3&2<L1
,%A+,L'2#';+')#$6&,'&2'2<%"'"2&:+'(),+""'& &$+'3$+"+)2.9D1D7'><%"'%"'"%6%,&$'2#'U)4%):" 3,+($%"L1' 3(,6#)&$L' 3&$+)-<L6&,' %)=
3$+*%#("' +3%"#4+' #5' "&-$#%,%%2%"' <&"' #-= %)'#2<+$'"3#)4L,#&$2<$#3&2<%+"1'+"3+-%&,,L W&66&2%#)1'&)4'&6L,#%4#"%".
-($$+4' &)4' %"#2#3+' ;#)+' "-&))%):' %"' #5= &)AL,#"%):'"3#)4L,%2%"1'2<#(:<'2<+'"%:)%U=
2+)'()<+,35(,.'d&:)+2%-'$+"#)&)-+'%6&:= -&)-+'#5'2<+"+'U)4%):"'%"'()-,+&$.
%):'BdcGE'&)4'-#63(2+$%X+4'2#6#:$&3<L ;:dd&'&E%:#>(;:#1E=F:F
"-&))%):' 6&L1' <#0+*+$1' 4+6#)"2$&2+ G)'6&)L'3&2%+)2"1'2<+'4%"+&"+'5+&2($+"'&$+
+&$,L'+*%4+)-+'#5'&-(2+'"&-$#%,%%2%".'G)'$+= =A28.9(>75G,/5 2L3%-&,' &)4' 2<+' 4%&:)#"%"' %"' +&"Li' <#0=
&-2%*+'&$2<$%2%"1'2<%"' %"' #52+)' ()%,&2+$&,'%) _)+=2<%$4' #5' 3&2%+)2"' 0%2<' $+&-2%*+' &$= +*+$1'%)'3$&-2%-+1'2<+'4%55+$+)2%&,'4%&:)#"%"
-#)2$&"2' 2#' 2<+' ;%,&2+$&,' %)*#,*+6+)2' %) 2<$%2%"' 4+*+,#3' ()%,&2+$&,' #$' ;%,&2+$&,' %)= %"'0%4+'&)4'6%"4%&:)#"%"'%"'-#66#).'c+=
&)AL,#"%):' "3#)4L,%2%"' B"++' +F%:.' C7=Q.8 W&66&2#$L' +L+' ,+"%#)"1' 0<%-<' 5#$6' & &-2%*+' &$2<$%2%"' <&"' 2#' ;+' 4%55+$+)2%&2+4
%)'#)=,%)+'+4%2%#)E. -,&""%-' 3&$2' #5' 2<+' -,%)%-&,' 3%-2($+.' T#)= 5$#6'#2<+$'5#$6"'#5'%)W&66&2#$L'&$2<$%=
G)W&66&2%#)' &2' +)2<+"+"r"%2+"' #5 b()-2%*%2%"'0%2<'"2+$%,+'4%"-<&$:+'#--($"'%) 2%"1' %)-,(4%):' #2<+$' "3#)4L,#&$2<$#3&=
;#)L'&22&-<6+)2"'#5',%:&6+)2"'&)4'2+)= #)+=2<%$4'#5'3&2%+)2".'G2'("(&,,L'"(;"%4+" 2<%+"1' $<+(6&2#%4' &$2<$%2%"1' :#(21' "&$-#%=
4#)"r%"' <%:<,L' -<&$&-2+$%"2%-' #5' &,,' 2<+ "3#)2&)+#(",L' ;(2' 6&L' 3$#:$+""' 2#' +3%= 4#"%"1' &)4' "+32%-' &$2<$%2%4+"' &)4' 5$#6
"3#)4L,#&$2<$#3&2<%+"1' %)-,(4%):' $+&-= "-,+$%2%"1' A+$&2%2%"1' #$' +*+)' -#$)+&,' (,-+$= "L"2+6%-'*&"-(,%2%4+"1'0<%-<'6&L'3$+"+)2
2%*+' &$2<$%2%".H19M19H' !&%)' &2' 2<+' &)A,+' $+= &2%#).'N-(2+'&)2+$%#$'(*+%2%"'B%$%2%"E'#--($" %)'2<+%$'+&$,L'"2&:+"'%)'L#():'&4(,2"'0%2<
:%#)' 6&L' ;+' 4(+' 2#' +)2<+"%2%"' &2' 2<+ #),L'%)'Q'3+$-+)2'2#'M'3+$-+)2'#5'3&2%+)2" b#%)2'3&%)'&)4'5+*+$1'2<("'+)2+$%):'2<+'4%5=
N-<%,,+"'2+)4#)'#$'3,&)2&$'5&"-%&'&22&-<= 4($%):'&)'+3%"#4+'#5'$+&-2%*+'&$2<$%2%"';(2 5+$+)2%&,'4%&:)#"%"1'&,;+%2';$%+WL.'G)'&44%=
6+)2"' 2#' 2<+' -&,-&)+(".' N-<%,,+"' 2+)= %"' 6#$+' ("(&,,L' &"L)-<$#)#("1' &' <%"2#$L 2%#)1'$+&-2%*+'&$2<$%2%"'6("2';+'4%55+$+)2%=
4#)%2%"' 6&L' ;+' &""#-%&2+4' 0%2<' -<&$&-= #5'%$%2%"'"(33#$2%):'2<+'$<+(6&2%-'4%&:)#= &2+4' 5$#6' )#)="3+-%U-' "L632#6"' %)
2+$%"2%-' ;($"%2%".' !&%)5(,' +)2<+"#3&2<L "%".D8'\#2<'-#)b()-2%*%2%"'&)4'%$%2%"'<&*+'& 3&2%+)2"'0<#'3$+"+)2'0%2<'&$2<$&,:%&'&)4
6&L' &,"#' #--($' &2' -#"2#-<#)4$&,' b()-= "2$#):' 2+)4+)-L'2#' $+-($.' N,2<#(:<'%$%2%" "L632#6"' "(::+"2%*+' #5' %)5+-2%#)1' ("(=
2%#)"'&)4'&2'%"-<%&,'2(;+$#"%2%+"'&)4'%,%&- %"'6#$+'#52+)'&""#-%&2+4'0%2<'"+*+$+'#-(= &,,L':+)%2#($%)&$L';(2'%)'0<#6'&'-,+&$'4%=
-$+"2".'N-(2+'+)2<+"#3&2<%-',+"%#)"'6&L ,&$'3&%)1'$+4)+""1',&-$%6&2%#)1'3<#2#3<#= &:)#"%"'#5'%)5+-2%#)'-&))#2';+'6&4+.'G)=
;+'0+,,'"<#0)';L'dcG'#$';L'(,2$&"#()4 ;%&1'&)4'*%"(&,'%63&%$6+)21DC'-#)b()-2%*%= +*%2&;,L1' %)' "#6+' %)"2&)-+"1' 2<+' 2$(+
"-&))%):i'3,&%)'$&4%#:$&3<"'4+6#)"2$&2+ 2%"' &)4' %$%2%"' &$+' #52+)' %)4%"2%):(%"<&;,+ 4%&:)#"%"1'+"3+-%&,,L'$<+(6&2#%4'&$2<$%2%"1
;#)L'"3($"1'+"3+-%&,,L'&2'2<+'3,&)2&$'5&"= 0%2<#(2'"3+-%&,%"2'&""+""6+)2.'><("1'2<+ 3"#$%&2%-' &$2<$%2%"1' &)4' &)AL,#"%):' "3#)=
-%&' &22&-<6+)21' ;(2' 2<+"+' &$+' ,&2+' "%:)" 4+*+,#36+)2' #5' #-(,&$' 3&%)' &)4h#$' $+4= 4L,%2%"1' #),L' ;+-#6+"' -,+&$' 0%2<' -,%)%-&,
2<&2'#52+)'$+W+-2'3$+*%#("'4%"+&"+'$&2<+$ )+""'0&$$&)2"'($:+)2'#3<2<&,6#,#:%-'+K= 5#,,#0=(3.
2<&)'2<+'-($$+)2'+3%"#4+.' &6%)&2%#)' 2#' 3$+*+)2' 3+$6&)+)2' *%"(&, ><+' 4%&:)#"%"' #5' $+&-2%*+' &$2<$%2%"' %"
%63&%$6+)2. $+&-<+4' %)' 20#' "2&:+"V' 2<+' $+-#:)%2%#)
17/GD,29G/.9N(d7.D2975 #5'&'"3#)4L,#&$2<$#3&2<L'&)4'2<+'+"2&;=
,%"<6+)2'#5'&',%)A'0%2<'&'[2$%::+$%):^'%)=
I$#:+)%2&,' %)W&66&2%#)' 6&L' #--($' +%= !.93G.A(>75G,/5 5+-2%#)'BF%:.'C7=ME.
2<+$' &"' &' 5+&2($+' #5' %)%2%&2%):' "+K(&,,L JL632#6&2%-'<+&$2'4%"+&"+'%"'$&$+'%)'$+&-=
2$&)"6%22+4'%)5+-2%#)'#$'&"'&'"2+$%,+'$+&-= 2%*+' &$2<$%2%".' !&,3%2&2%#)"' &)4' 3+$%-&$4%&,
2%*+',+"%#).'><("1'($+2<$%2%"'<&"';++)'%)=
:5(:D(.(FL,/3N8,.9D-9,L.D-Nx
2L3+'-<+"2'3&%)1'#--&"%#)&,,L'0%2<'&'3+$%=
-,(4+4'%)'2<+'2$%&4'-,&""%-&,,L'$+-#:)%X+4 -&$4%&,'$(;1'<&*+';++)'4+"-$%;+4.DP'/#0= ><+$+' &$+' )#'-#)U$6&2#$L' 2+"2"' 5#$' 2<+
&"' c+%2+$' "L)4$#6+' %$$+"3+-2%*+' #5' 2<+ +*+$1' +,+-2$#-&$4%#:$&3<%-' &;)#$6&,%2%+" 4%&:)#"%"' #5' "3#)4L,#&$2<$#3&2<L.' !#=
I!!
5789:-4I+<O ;G.B/,5DGA(.8B,9GD-6(e6.VG/B(D-7(3G.B/,5G50g(./DG(;E#57(j(c(./DG37,MN9GS,/2A87.57(jP(#F=%(c(./DG5D97LD,8N5G/(=(DGD79P(:j;(c(G/_.66.D,9N
I!I S,J78(3G57.57P(<':(c(6.B/7DGA(975,/./A7(G6.BG/BP($!'(c(L,8N679.57(A-.G/(97.ADG,/0
2+)2%&,'4%&:)#"2%-'-$%2+$%&'<&*+';++)'3(2 G)' 2<#"+' 0%2<' +L+' "L632#6"1' ($:+)2 "+R(+)2' &)AL,#"%):' "3#)4L,%2%"1MP187C
5#$0&$4D91DD'&)4'2<+'-<&$&-2+$%"2%-'-,%)%= &""+""6+)2' ;L' &)' #3<2<&,6#,#:%"2' %" &)41'%)'<#"3%2&,=;&"+4'"2(4%+"1'/SN=\CZ`
-&,' 5+&2($+"' #5' "3#)4L,#&$2<$#3&2<L1 %63#$2&)2' &"' (*+%2%"' $+R(%$+"' 3$#632 3#"%2%*+' %)4%*%4(&,"' &$+' ,%A+,L' 2#' <&*+
3&$2%-(,&$,L' ,#0+$' ,%6;' 6#)#=' #$' #,%= &)4'-#$$+-2'2$+&26+)2'%5'+L+"%:<2'%"'2#';+ ,#):+$'+3%"#4+'4($&2%#)1'6#$+'+K2$&=&$2%-=
:#&$2<$%2%"i' +)2<+"%2%"1' +"3+-%&,,L' &2' 2<+ 3$#2+-2+4.' O<+)' -&$4%&-' &;)#$6&,%2%+" (,&$'5+&2($+"1'+"3+-%&,,L'%$%2%"1'&)4'+$#"%*+
<++,1'&)4';(22#-A'3&%)1'#52+)'%)'&'L#(): &$+' 4+2+-2+4' -,%)%-&,,L' #$' $<+(6&2%-' 5+= b#%)2' 4&6&:+.' O%2<%)' "3#)4L,#&$2<$#3&=
&4(,21' &$+' $+&4%,L' $+-#:)%X+4.' N' 5&6%,L *+$' %"' "("3+-2+41' +,+-2$#-&$4%#:$&3<L 2<%+"1'6&,+':+)4+$1'&'3#"%2%*+'5&6%,L'<%"=
<%"2#$L' #5' "3#)4L,#&$2<$#3&2<L' 5+&= &)4' +-<#-&$4%#:$&3<L' 6&L' ;+' <+,35(,. 2#$L1' 2<+' 3$+"+)-+' #5' -<$#)%-' :(2' ,+"%#)"
2($+"1' %)-,(4%):' %)W&66&2#$L' ;#0+, G)' 2<#"+' 0%2<' "+*+$+' #$' 3$#,#):+4' +3%= 4+2+-2+4'+)4#"-#3%-&,,L'&)4'<%3'%)*#,*+=
4%"+&"+' &)4' %$%2%"1' %"' "(::+"2%*+.' !$+"+)= "#4+"' #5' $+&-2%*+' &$2<$%2%"1' <#0+*+$1 6+)2' 3$+4%-2' ,#):' +3%"#4+' 4($&2%#).87C
2&2%#)' %)' 2<+' -#)2+K2' #5' %)5+-2%#)1 -#)4(-2%#)' 4%"2($;&)-+"' &$+' -#66#)1 c+-($$+)2' +3%"#4+"' &)4' -<$#)%-' 4%"+&"+
0<+2<+$' %)' 2<+' 3$+"+)-+' #5' &' A)#0) 2<#(:<':+)+$&,,L';+)%:). &$+' &,"#' ,%)A+4' 2#' /SN=\CZ' 3#"%2%*%2L.' N
"3#$&4%-' :+)%2#($%)&$L' #$' :(2' %)5+-2%#) 0+%:<2+4'$%"A'&)&,L"%"'5#$'"+*+$+'3$#:)#=
#$'4($%):'&)'#(2;$+&A'#5'4%&$$<+&1'$&%"+" "%"'%)'"3#)4L,#&$2<$#3&2<L'<&"';++)'3$#=
:5(:D('7.ADG@7(#9D-9GDG5x
"("3%-%#)'#5'2<+'4%&:)#"%"1'&,2<#(:<':&"= 3#"+4.87C'?&-<'5+&2($+'%"'"-#$+4'&)4'&'2#=
2$#%)2+"2%)&,' "L632#6"' %)' -&"+"' #5' +)= ><+'4%&:)#"%"'#5'$+&-2%*+'&$2<$%2%"'&)4'%2" 2&,'"-#$+'%"'-&,-(,&2+4.'N'3##$'#(2-#6+'%"
2+$%-' $+&-2%*+' &$2<$%2%"' &$+' #52+)' 6%,4' #$ 4+"%:)&2%#)' &--#$4%):' 2#' 3(2&2%*+' %)5+-= 3$+4%-2+4' %5' <%3' &$2<$%2%"' %"' 3$+"+)2' #$' %5
+*+)' &;"+)2.' ?*+)' %"#,&2+4' 6#)#&$2<$%= 2%#("'-&("+'&$+'4+3+)4+)2'#)'4+6#)"2$&2= 6#$+'2<&)'2<$++'5&-2#$"'&$+'3$+"+)2.'
2%"'&2'&',#0+$',%6;'b#%)21'"(-<'&"'&'"%):,+ %):'&'2+63#$&,'$+,&2%#)"<%3'0%2<'&'"3+-%U- G2' &33+&$"' 2<&2' /SN=\CZ`)+:&2%*+' %)=
"0#,,+)' A)++1' "<#(,4' $&%"+' "("3%-%#)' #5 ;&-2+$%&,'%)5+-2%#).'N'-,+&$'<%"2#$L'#5'3#= 4%*%4(&,"'&$+',&$:+,L1'%5')#2'+)2%$+,L1'3$#=
&'"3#)4L,#&$2<$#3&2<L. 2+)2%&,,L'%)5+-2%*+'"L632#6"1'"(-<'&"'&;= 2+-2+4' 5$#6' 4+*+,#3%):' "&-$#%,%%2%"1' 4+=
G)*+"2%:&2%#)"' "+$*+' 2#' -#)U$6' 2<+ 4#6%)&,' 3&%)1' 4%&$$<+&1' 4L"($%&1' ($+2<$&, "2$(-2%*+' 3+$%3<+$&,' &$2<$%2%"1' %$%2%"' &)4
3$+"+)-+' #5' %)W&66&2#$L' &$2<$%2%"' &)4 #$'*&:%)&,'4%"-<&$:+1'#$'3#""%;,L'#5'#2<+$ "(;"+R(+)2' &)AL,#"%):' "3#)4L,%2%".' ><+
4+6#)"2$&2+'2<+'3$+"+)-+'#$',%A+,L'$+-+)2 %)5+-2%*+'"L632#6"'"(-<'&"'"#$+'2<$#&2'%" %4+)2%2L'#5'2<+'2$%::+$%):'&:+)2'4#+"')#2
3$+"+)-+'#5'&)'&""#-%&2+4'%)5+-2%#).'N-(2+ %63#$2&)21'2<#(:<')#2'+""+)2%&,.'J#'2##'%" &33+&$'2#'%)W(+)-+'2<+'+3%"#4+'4($&2%#).
3<&"+'$+&-2%#)"1'0<+2<+$'6+&"($+4';L'T= &' <%"2#$L' #5' ,%A+,L' +K3#"($+' 2#' %)5+-2%#)1 \&-A' 3&%)1' 0<+2<+$' %)W&66&2#$L' #5
$+&-2%*+' 3$#2+%)1' +$L2<$#-L2+' "+4%6+)2&= %)-,(4%):'"+K(&,'%)2+$-#($"+'0%2<'B&E')+0 )#)="3+-%U-1' 3+$"%"2"' ;+L#)4' 2<+' &-(2+
2%#)' $&2+' #$' 3,&"6&' *%"-#"%2L1' &$+' ("(&,,L "+K(&,' 3&$2)+$B"E' &)4' 2<+' 3$+"+)-+' #5 +3%"#4+'%)'(3'2#'CM'3+$-+)2'#5'3&2%+)2".87P
+,+*&2+4.'G)'3&2%+)2"'0%2<'"(;"2&)2%&,'"L"= #2<+$' -#)2&-2"' 0%2<' &;4#6%)&,' "L63= J&-$#%,%%2%"1' #)' 3,&%)' $&4%#:$&3<L1' <&"
2+6%-'(3"+2'&)4'5+*+$1'2<+'T=$+&-2%*+'3$#= 2#6"1' %)-,(4%):' 5&6%,L' 6+6;+$"1' 0<# ;++)'$+3#$2+4'%)'8Q'3+$-+)2'2#'QD'3+$-+)2
2+%)'6&L';+'*+$L'<%:<1'"(::+"2%):'"+3"%"1 6&L'&,"#'<&*+'+&2+)'-#)2&6%)&2+4'5##4. #5'3&2%+)2"'&22+)4%):'<#"3%2&,.'><+'%""(+
0<%-<'%"'&,"#'&'A+L'4%55+$+)2%&,'4%&:)#"%". J#6+2%6+"' 2<+' -,(+' 2#' &' 3#%)2' "#($-+' #5 &"' 2#' 0<+2<+$' $+&-2%*+' &$2<$%2%"' 3$#=
O%2<' 3+$"%"2+)21' &-2%*+' 4%"+&"+1' )#)="3+= ;&-2+$%&,'5##4'3#%"#)%):'6&L'-#6+'5$#6 6#2+"' 2<+' "(;"+R(+)2' 4+*+,#36+)2' #5
-%U-')#$6#-<$#6%-'&)+6%&'&)4',+(A#-L= 3(;,%-'<+&,2<'"+$*%-+"'$&2<+$'2<&)'2<+'3&= &)AL,#"%):' "3#)4L,%2%"' %"' ()$+"#,*+4' ;(2
2#"%"'6&L'&,"#'4+*+,#3.'I$%)&,L"%"'"<#(,4 2%+)2.' ><+' 2%6%):' #5' -#)2&-2' 0%2<' 3#2+)= %2' %"' ,%A+,L' 2<&2' 2<+' #*+$&,,' %)-%4+)-+' #5
;+'-&$$%+4'#(2'&2'4%&:)#"%"'&)4'"<#(,4';+ 2%&,' "#($-+"' #5' %)5+-2%#)' "<#(,4' ;+' -&$+= &)AL,#"%):'"3#)4L,%2%"'%)'%)4%*%4(&,"'0<#
$+3+&2+4' 4($%):'2<+' 5#,,#0=(31' &"' 3L($%& 5(,,L' 4#-(6+)2+4' &)4' -#)2&-2"' 2$&-+4' %5 <&*+'<&4'$+&-2%*+'&$2<$%2%"'%"'"%:)%U-&)2,L
%)4%-&2%*+' #5' ($+2<$%2%"' &)4' 3$#2+%)($%& &33$#3$%&2+.' F#$' "#6+' 3&2%+)2"1' +*%4+)-+ <%:<+$' 2<&)' 2<+' ;&-A:$#()4' 3$+*&,+)-+
6&L'%)4%-&2+'$+)&,'%)*#,*+6+)2.'>+"2"'5#$ #5' &' 3#2+)2%&,,L' %)%2%&2%):' %)5+-2%#)' #),L &6#):' ()"+,+-2+4' /SN=\CZ`3#"%2%*+' %)=
$<+(6&2#%4' 5&-2#$' &)4' #2<+$' &(2#&)2%= +6+$:+"'5$#6'&'[;,%)4^'"+&$-<'%)'2<+'&;= 4%*%4(&,".87Q'><+'3$+"+)-+'#5'-<$#)%-':(2
;#4%+"'&$+'("(&,,L')+:&2%*+. "+)-+'#5'%)5+-2%*+'"L632#6"'0<+)'#2<+$ ,+"%#)"' #)' +)4#"-#3L' %"' &,"#' &' 3$+4%-2#$
N)'+""+)2%&,'-#63#)+)2'#5'2<%"'%)%2%&, 5+&2($+"'$&%"+'2<%"'4%&:)#"2%-'3#""%;%,%2L. #5' 2<+' 4+*+,#36+)2' #5' -<$#)%-' "3#)4L=
4%&:)#"2%-'"2&:+'%"'2<+'+K-,("%#)'#5'&,2+$= _)-+' &' 3$#;&;,+' 2$%::+$' %)5+-2%#)' %" ,#&$2<$#3&2<L1' %)-,(4%):' &)AL,#"%):
)&2%*+' 4%55+$+)2%&,' 4%&:)#"+".' J+32%-' &$= %4+)2%U+41'+55#$2'"<#(,4';+'6&4+'2#'-#)= "3#)4L,%2%"i' -#)*+$"+,L1' &;"+)-+' #5' "(-<
2<$%2%"' &22$%;(2&;,+' 2#' ;#2<' &-(2+' 3L#= U$6' 2<+' %)5+-2%*+' 4%&:)#"%"' &)4' %4+)2%5L :(2' ,+"%#)"' #$' 3#""+""%#)' #5' /SN=\0HC
:+)%-' #$:&)%"6"' &)4' 2#' F.)#,&)+*$%(3 2<+' 3(2&2%*+' -&("&,' 6%-$##$:&)%"6.' J3+= -#$$+,&2+"'3#"%2%*+,L'0%2<'$+6%""%#)'#5'&$=
+(,*$)(-#"%"' )++4"' 2#' ;+' +K-,(4+41' +"3+= -%&,%"2' :+)%2#($%)&$L' +K&6%)&2%#)' 6&L 2<$%2%"'0%2<#(2'"+R(+,&+.87M
-%&,,L'%)'-<%,4$+).'/+)-+1'b#%)2'&"3%$&2%#) -#)U$6'2<+'3$+"+)-+'#5'($+2<$%2%"'#$'-+$=
&)4' #--&"%#)&,,L' "L)#*%&,' ;%#3"L' &$+ *%-%2%"i'-(,2($+'5#$'&33$#3$%&2+'3&2<#:+)"
'7A2997/A7(./3($795G5D7/A7
%63#$2&)2' %)*+"2%:&2%#)".' \,##4' -(,= -&)' ;+' 2&A+)' &,#):' 0%2<' %66()#4+2+-=
2($+"' &$+' &,"#' +""+)2%&,' %5' "+3"%"' %"' "("= 2%#)'2+"2"'5#$'C5-&3.7%&'+$&)5#3&+%"O \+20++)' P7' 3+$-+)2' &)4' M7' 3+$-+)2' #5
3+-2+4.' N$2<$#"-#3L' &)4' "L)#*%&,' ;%= 3&2%+)2"' 0%2<' JNcN' <&*+' &' $+,&3"+i' %)
#3"L' 6&L' &,"#' ;+' ("+5(,' 2#' +K-,(4+' #$ -#)2$&"21' $+,&3"+' %"' ,+""' -#66#)' %)' 2<+
-#)U$6'2<+'4%&:)#"%"'#5'3%:6+)2+4'*%,= $'=1E=F:F(#E;( +)2+$%-' 5#$6".' c+-($$+)-+"' 6&L' ;+' 2$%:=
,#)#4(,&$' "L)#*%2%"1' 2<#(:<' #2<+$0%"+ !>:E:!#>(!=f'F& :+$+4';L')+0'%)5+-2%#)"';(2'6&L'&,"#'#-=
U)4%):"'&$+')#)="3+-%U-.'J%6%,&$,L1'-$L"= d#"2' +3%"#4+"' #5' $+&-2%*+' &$2<$%2%"' $+= -($' 0%2<#(2' +*%4+)2' 3$#*#A%):' 5&-2#$".
2&,' "L)#*%2%"' #--&"%#)&,,L' 3$+"+)2"' 0%2< "#,*+'0%2<%)'P'2#'M'6#)2<"1'0%2<'&'6+&) T#)*+$"+,L1' %)4%*%4(&,"' 0%2<' &' 3&"2' <%"=
%)2+)"+' +55("%#)' &2' &' A)++' #$' &)A,+' %)'& +3%"#4+' 4($&2%#)' #5' 8D' 0++A".881MP' J%K2L 2#$L'#5'$+&-2%*+'&$2<$%2%"'6&L'<&*+'&')+0
L#():'&4(,2.'><%"'$+R(%$+"'+K-,("%#)';L 3+$-+)2' 2#' 97' 3+$-+)2' #5' 3&2%+)2"' &$+' %) %)5+-2%#)';L'&';&-2+$%(6'A)#0)'2#'2$%:=
+K&6%)&2%#)' #5' "L)#*%&,' W(%4' 5#$' -$L"= $+6%""%#)'&2'8C'6#)2<"878'&)4'ZM'3+$-+)2 :+$' 2<+' 4%"+&"+' 0%2<#(2' 4+*+,#3%):' &
2&,".' J&$-#%4#"%"' &)4' F.)#!-&"3&' !1*(> 2#'877'3+$-+)2'<&*+'$+6%22+4';L'C'L+&$"1 $+-($$+)-+.'G$%2%"'&)4'3"#$%&"%5#$6'$&"<+"
3#1%&*' %)5+-2%#)' "<#(,4' &,"#' ;+' -#)"%4= 2<#"+'0%2<'+)2+$%-'$+&-2%*+'&$2<$%2%"'5&$%): &$+'3&$2%-(,&$,L'3$#)+'2#'$+-($$+)-+'%)4+=
+$+4' 0%2<%)' 2<+' 4%55+$+)2%&,' 4%&:)#"%" ",%:<2,L';+22+$'2<&)'2<#"+'0%2<'JNcN.881MP 3+)4+)2'#5'&$2<$%2%"'0%2<#(2'$+-#:)%X&;,+
&)4'"<#(,4')+-+""%2&2+'-<+"2'K=$&L'0%2< /SN=\CZ`3#"%2%*+'%)4%*%4(&,"'&$+'6#$+ 2$%::+$".' J(-<' $+-($$+)-+"' 2+)4' 2#' ;+=
#$'0%2<#(2'5($2<+$'%)*+"2%:&2%#)". ,%A+,L' 2#' 4+*+,#3' "&-$#%,%%2%"' &)4' "(;= -#6+',+""'-#66#)'0%2<'&4*&)-%):'&:+.' I!?
!+$"%"2+)-+' #5' &$2<$&,:%&1' 5&2%:(+1' &)4 d&A%):' &)4' +K3,&%)%):' 2<+' 4%&:)#"%" &:+' 2#' +L+"%:<2' %"' 2#' ;+' &*#%4+4.' >$+&2=
3&%)' $+"(,2%):' 5$#6' b#%)2' 4&6&:+' %"' )#2 &)4'%2"' %63,%-&2%#)"'%"'2<+'-#$)+$"2#)+' #5 6+)2' #5' %$%2%"' -#)"%"2"' #5' -#$2%-#"2+$#%4"
()-#66#)'5#$'C'#$'P'L+&$"'4+"3%2+'R(%= 2$+&26+)2.'><+'$#,+'#5'%)5+-2%#)'&,"#'$&%"+" %)' 2<+' 5#$6' #5' +L+' 4$#3"1' ,#-&,' %)b+-2%#)
+"-+)-+'#5'2<+'&$2<$%2%".'u#%)2"'2<&2'<&*+ %63#$2&)2' %""(+"' 2<&2' <&*+' 2#' ;+' &)2%-%= #$' +*+)' "L"2+6%-&,,L1' &)4' #5' 6L4$%&2%-".
;++)' &55+-2+4' ;L' $+&-2%*+' &$2<$%2%"' 6&L 3&2+4' &)4' 6&)&:+4V' T<%+5' &6#):' 2<+"+ ><+' 3&2%+)2' "<#(,4' ;+' %)5#$6+4' &;#(2
;+'3$#)+'2#',&2+$'#"2+#&$2<$%2%".' %""(+"'&$+'2<+'$#,+1'3$#2+-2%#)1'&)4'3#2+)= 2<+'"2$#):'3#""%;%,%2L'#5'$+-($$+)-+.'
2%&,'-(,3&;%,%2L'#5'"+K(&,'3&$2)+$"'&)4'2<+
3(;,%-'<+&,2<'&)4',+:&,'%""(+"'&$%"%):'5$#6
H,9V(;G5.SG8GDN( #/DG6GA9,SG.8(%-79.LN
2<+'-#)"(632%#)'#5'-#)2&6%)&2+4'5##4.'
O#$A' 4%"&;%,%2L' %"' 4%5U-(,2' 2#' &)&,LX+ >$+&26+)2' #5' 3+$%3<+$&,' b#%)2' &)4' +)= N33$#3$%&2+'&)2%;%#2%-'2$+&26+)2'#5'&-(2+
("+5(,,L';+-&("+'%2'<&"';++)'&44$+""+4'%) 2<+"%"' ,+"%#)"' %"' +K&-2,L' &"' 5#$' #2<+$' %)= :+)%2#($%)&$L' %)5+-2%#)1' &,#):' 0%2<' -#)=
$&2<+$'4%"3&$&2+'"2(4%+"'&"'"#-%&,'&)4'()= W&66&2#$L' &$2<$%2%4+"1' 0%2<' &)&,:+"%-"1 2&-2'2$&-%):'&)4'2$+&26+)2'#5'"+K(&,'3&$2=
+63,#L6+)2' "(33#$2' "L"2+6"' 4%55+$' ;+= )#)"2+$#%4&,' &)2%=%)W&66&2#$L' 4$(:"1 )+$"' %"' +""+)2%&,.' T#)*+$"+,L1' &)2%;%#2%-
20++)' -#()2$%+".' G2' "++6"' ,%A+,L' 2<&2 &)2%2(6#$' )+-$#"%"' 5&-2#$= ' ;%#,#:%-"1 2$+&26+)2'#5';&-2+$%&,'4%&$$<+&1'#2<+$'2<&)
0#$A' 4%"&;%,%2L' %"' $&$+' &52+$' #(2;$+&A" ,#-&,' "2+$#%4' %)b+-2%#)"' 5#$' %)4%*%4(&, %)' +K-+32%#)&,' -%$-(6"2&)-+"1' %"' ;+"2
#5'+)2+$%-'%)5+-2%#)1';(2'&6#):'<#"3%2&, ,+"%#)"1'3<L"%#2<+$&3L'&)4'&22+)2%#)'2# &*#%4+4.' G2' %"' ()-,+&$' 0<+2<+$' &)2%;%#2%-
&22+)4+$"' "#6+' 3&2%+)2"' &$+' ()&;,+' 2# 5##20+&$'&,,'3,&L%):'%63#$2&)2'$#,+".' 2$+&26+)2' #5' &-(2+' "+K(&,,L' 2$&)"6%22+4
-#)2%)(+' 0#$A%):1' ("(&,,L' ;+-&("+' #5 G)')#)"2+$#%4&,'&)2%=%)W&66&2#$L'4$(:` %)5+-2%#)"' $+4(-+"' 2<+' ,%A+,%<##4' #5' $+&-=
3+$"%"2+)2'4%"+&"+1'3&%)5(,'5##2'b#%)2'4&6= $+"%"2&)2' 4%"+&"+1' 0%2<' 6&$A+4' "L"2+6%- 2%*+'&$2<$%2%"'4+*+,#3%):';(2'2<+$+'%"'"#6+
&:+1'#$'"3#)4L,%2%".'G)'g#$2<'N6+$%-&'&)4 5+&2($+"' #$' 3$#,#):+4' &-2%*+' 3<&"+1' "L"= +*%4+)-+'2<&2'2<%"'6&L';+'"#.88M'G2'%"'-,+&$
T&)&4&1' (3' 2#' 8H' 3+$-+)2' #5' 2<%"' ,&22+$ 2+6%-' -#$2%-#"2+$#%4"' 6&L' ;+' <+,35(,. 2<&2' 6&)L' 3&2%+)2"' 4+*+,#3' &$2<$%2%"' %)
:$#(3' -<&):+"' 2<+%$' 0#$A' #$' ;+-#6+" J2+$#%4"'6&L';+'&46%)%"2+$+4'&"'&'"%):,+ "3%2+'#5'-#63,+2%):'&'-#($"+'#5'&)2%;%#2%-"
()+63,#L&;,+1' &)4' 2<%"' U:($+' 6&L' $%"+ %)2$&6("-(,&$' 4#"+' #5' 4+3#2' 6+2<L,= "(5U-%+)2' 2#' -,+&$' 2<+%$' :+)%2#($%)&$L' %)=
0%2<' ,&2+' 5#,,#0=(3.87H187Z' ><+' 3$+"+)-+ 3$+4)%"#,#)+' B97' 2#' 8C7' 6:E1' +"3+-%&,,L 5+-2%#).'J<#$2'-#($"+"'#5'&)2%;%#2%-"'#5'8'#$
#5'<++,'4%"+&"+'3$+4%-2"'3##$'#(2-#6+.' 2#'[;(L'2%6+^'%5'&'"+-#)4=,%)+'4$(:'%"';+= C' 0++A"' 4#' )#2' &33+&$' 2#' %)W(+)-+' 2<+
%):' %)2$#4(-+41' #$' &"' &' -#($"+' #5' #$&, -#($"+'#$'4($&2%#)'#5'+%2<+$'JNcN'#$'+)=
<,9D.8GDN 3$+4)%"#,#)+' B8M' 2#' P7' 6:' #)-+' 4&%,LE1 2+$%-' $+&-2%*+' &$2<$%2%".88H188Z' g(6+$#("
2<+' 4#"+' ;+%):' 2&3+$+4' &--#$4%):' 2#' $+= "2(4%+"'<&*+'&44$+""+4'2<+'3#2+)2%&,'*&,(+
@+&2<' %"' &)' +K2$+6+,L' ()-#66#)' #(2= "3#)"+.' T#$2%-#"2+$#%4' 2<+$&3L' "<#(,4 #5'6+4%(6='2#',#):=2+$6'BP'2#'8C'6#)2<"E
-#6+' #5' $+&-2%*+' &$2<$%2%".' N)+-4#2&,,L1 ;+' ("+4' 5#$' 2<+' 6%)%6(6' 3#""%;,+' 3+= &)2%6%-$#;%&,'62<+$&3L'%)'$+&-2%*+'&$2<$%=
#--&"%#)&,' 4+&2<"' <&*+' ;++)' &22$%;(2+4 $%#4' &)4' &--#63&)%+4' ;L' &33$#3$%&2+ 2%"' ;(2' <&*+' ;++)' ()&;,+' 2#' 4+6#)"2$&2+
2#'-&$4%2%"1'-&$4%&-'*&,*(,&$'4%"+&"+1'&6L= ;#)+'3$#2+-2%*+'2$+&26+)2.' &)L'-#)*%)-%):'+*%4+)-+'#5'+5U-&-L.'
,#%4#"%"1'&)4'-#63,%-&2%#)"'#5'"($:+$L.'G2 G)'$+-($$+)21'-<$#)%-'#$'+$#"%*+'4%"+&"+1 G2' %"' -,+&$' 2<&2' 6+4%(6=' 2#' ,#):=2+$6
%"' ,%A+,L' 2<&2' 6#$2&,%2L' #5' 3&2%+)2"' 0%2< "+-#)4=,%)+' &:+)2"' 6&L' ;+' ("+4' &"' %) &)2%;%#2%-'2$+&26+)2'#5'3&2%+)2"'0%2<'$+=
$+&-2%*+' &$2<$%2%"' 4#+"' )#2' 4%55+$' 5$#6 $<+(6&2#%4' &$2<$%2%".' _5' 2<+"+1' "(,3<&= &-2%*+'&$2<$%2%"'%"')#2'b("2%U+4';L'-($$+)2
2<&2'#5'2<+'<+&,2<L'3#3(,&2%#).' "&,&X%)+'%"'2<+';+"2'"2(4%+4'&)4'"<#0)'2# +*%4+)-+.889
;+' 0+,,' 2#,+$&2+4' &)4' 3$#;&;,L' +55+-2%*+
5#$' 3+$%3<+$&,' b#%)2' 4%"+&"+.87D1887 >$+&2=
%'&#%<&E% 6+)2' "<#(,4' ;+' "2&$2+4' &2' ,#0' 4#"+1' %)=
h&?('&d&'&E!&F
FVG/(./3(<2A,5.8(>75G,/5 -$+&"%):'2#'C'2#'P':'&'4&L'%5'2#,+$&2+4';L %-7(C288(97C797/A7(8G5D(C,9(.88(A-.LD795(
2<+' 3&2%+)21' &"' %)' 2<+' 2$+&26+)2' #5' $<+(=
G5(.@.G8.S87(.D(JJJ03GB6^0A,60
JA%)' &)4' 6(-#"&,' ,+"%#)"' &$+' +""+)2%&,,L 6&2#%4' &$2<$%2%".' Y&"2$#%)2+"2%)&,' %)2#,+$=
3"#$%&"%"'&)4'"<#(,4';+'6&)&:+4'&--#$4= &)-+'6&L',%6%2'4#"+'+"-&,&2%#). QD. T&,&;$+"+' S/1' k%$-<)+$' ?1' J<$+"2<&' cV
%):,L'B"++'T<&3.'89E.'G)'6%,4'-&"+"1'A+$&2= _2<+$'&:+)2"1'%)-,(4%):'6+2<#2$+K&2+1 c<+(6&2%-'-#63,%-&2%#)"'#5'<(6&)'%6=
6()#4+U-%+)-L' *%$("' %)5+-2%#)' %)' 2<+
%)#,L2%-'&:+)2"'"(-<'&"'"&,%-L,%-'&-%4'#%)2= &X&2<%#3$%)+1' &)4' ,+W()#6%4+1' 6&L' ;+ +$&'#5'<%:<,L'&-2%*+'&)2%=$+2$#*%$&,'2<+$=
6+)2' #$' 2#3%-&,' 2$+&26+)2"1' %)-,(4%): +55+-2%*+' 2<#(:<' 5#$6&,' +*%4+)-+' 5#$ &3LV'?6+$:+)-+'#5'&')+0'"L)4$#6+'#5'&
*%2&6%)'@'&)&,#:(+"'&)4'-#$2%-#"2+$#%4" 2<%"'%)'$+&-2%*+'&$2<$%2%"'%"',%6%2+4.888188C )+0' $+-#)"2%2(2%#)' &)4' -<&):%):' 3&2=
6&L';+'("+4i'%)'6#$+'"+*+$+'-&"+"1'6+2<= N)2%2(6#$')+-$#"%"'5&-2#$'2<+$&3L'<&" 2+$)"' #5' 4%"+&"+.' 4*3%1' ?$+5$%+%"' 65*(3
#2$+K&2+'#$'$+2%)#%4"'&$+'#52+)';+)+U-%&,.' 8:V8HH1'C77M
;++)' ("+4' "(--+""5(,,L' #)' &)' &)+-4#2&,
M8. c+*+%,,+'u@1'\&,,'?u1'k<&)'dNV'/SN=\CZ
;&"%"' %)' &' 5+0' 3&2%+)2"' 0%2<' "+*+$+1 &)4' :+)+2%-' 3$+4%"3#"%):' 5&-2#$"' %)
#9D-9GDG5(./3(&/D-75GDG5( -<$#)%-' 4%"+&"+.' ><+' 3,&-+' #5' "(-<' ;%#= "3#)4L,#&$2<$#3&2<%+". C($$'8!%1'65*(>
,#:%-' 2<+$&3L' %)' 2<%"' -#)4%2%#)' %"1' <#0= 3&+#- 58VCHM1'C778
G)'6#"2'3&2%+)2"1'+3%"#4+"'#5'$+&-2%*+'&$= +*+$1'5&$'5$#6'+"2&;,%"<+4. MP. S+%$%"&,#=c+3#' dV' !$#:)#"%"1' -#($"+' #5
4%"+&"+' &)4' 2$+&26+)2' #5' 2<+' "3#)4L=
2<$%2%"' $+"#,*+' "3#)2&)+#(",L' &)4' 2$+&2= >$+&26+)2' #5' &$2<$%2%"' %)' 2<+' -#)2+K2 ,#&$2<$#3&2<%+". 65*(3 =%" C-%1 ?3*$
6+)2')++4"'2#'$+-#:)%X+'2<+',%A+,L')&2(= #5' /Ga' %)5+-2%#)' %"' &"' %)' /Ga=)+:&2%*+ =6VZPZ1'8DD9
$&,' -#($"+.' G2' %"' &,"#' 2<+' -&"+1' <#0+*+$1 3&2%+)2"' ;(2' 0%2<' 2<+' &44%2%#)&,' )++4 9C. a&<&6%A#'J1'!+)22%)+)'dN1'Y$&)5#$"'kV
2<&2'6&)L'3&2%+)2"'&$+'&2'&'"2&:+'#5',%5+'%) 5#$' &33$#3$%&2+' &)2%*%$&,' 2<+$&3L.' S#-&, N+2%#,#:L' &)4' 3&2<#:+)+"%"' #5' $+&-2%*+
0<%-<' 2#,+$&)-+' #5' +*+)' 2+63#$&$L' 4%"= &$2<$%2%"V'$#,+'#5')#)=&)2%:+)=3$+"+)2%):
-#$2%-#"2+$#%4' %)b+-2%#)"' 6&L' &,"#' ;+
+55+-2"' #5' /SN=\CZ.' ?$+5$%+%"' 6*"' ;5*$
$(32%#)' #5' #--(3&2%#)&,' &)4' $+-$+&2%#)&, ("+4'&"'%)')#)=/Ga'-&"+".'G)',#):="2&)4%): <V8PH1'C77M
&-2%*%2%+"' %"' ,#0' "#' 2<&2' +)2<("%&"6' 5#$ -&"+"1'"(,5&"&,&X%)+'6&L';+';+)+U-%&,.88P 9M. d-Y#)&:,+'@V'@%&:)#"%"'&)4'2$+&26+)2
$+"2#$&2%*+'2$+&26+)2'%"'<%:<.'><("1'2$+&2= G66()#"(33$+""%*+' &:+)2"' "<#(,4' ;+ #5' +)2<+"%2%".' 65*(3' =%"' C-%1 A#$+5' ?3
6+)2' 4+-%"%#)"' "<#(,4' "++A' 2#' ;&,&)-+ ("+4'0%2<':$+&2'-&$+1'%5'&2'&,,1'%)'%)4%*%4= =;VMQD1'C77P
879. T&$,%)' ?d1' k+&2' NTV' ?($#3+&)' :(%4+=
2<+"+' -#)W%-2%):' 5&-+2"' #5' 2<+' -#)4%2%#). (&,"'0%2<'/Ga'%)5+-2%#).88Q ,%)+"' 5#$' 2<+' 6&)&:+6+)2' #5' "+K(&,,L
>$+&26+)2' :(%4+,%)+"' 5#$' JNcN' <&*+ ?L+' %)W&66&2%#)' 6("2' ;+' 4%&:)#"+4 &-R(%$+4' $+&-2%*+' &$2<$%2%".' B1+' @' 4;=
I!L ;++)'3(;,%"<+4.879 &)4'2$+&2+4'3$#632,L'%5'%$$+*+$"%;,+'4&6= ?B=4 5=VDQ1'C778
!"#$%&'(O) $#><=$>#E%#' J2(4%+"' 5$#6' u&3&)' 3$#*%4+' +*%4+)-+
5#$' 3<+)#2L3%-' &)4' :+)+2%-' <+2+$#:+)+=
%2L' #5' !!!' &--#$4%):' 2#' %2"' &""#-%&2%#)h
!"#$%&,')'
,S+;S$".%3.S<;#-(+%-:%,"$>+%"(T%2-$*+%
263?013%,@26@132 8! &@6/!38@2
,/152 /!9%28132 /43 /6?8,BP /228&0/639%9023/23 B0268184P
$.86,L8./D.9(L25D28,5G5 ?75 #328D5 #S57/D $5,9G.5G5T(F#$"=(Z5N/,@GDG5T(.A/7T( FL,/BGC,96(L25D287T(/72D9,L-G85T(
L25D28,5G5T(-NL79,5D,5G5T(,5D7GDG5[( 5,67(7,5G/,L-G85
5N/39,67
#A9,3796.DGDG5(A,/DG/2.( ?75 #328D5 $9757/D $25D28.9(L5,9G.5G5T(l26S25A-(DNL7 FL,/BGC,96(L25D287T(/72D9,L-G85
Z".88,L7.2[
:/C./DG87(.A9,L25D28,5G5( ?75 :/C./D5 #S57/D #S57/D F2SA,9/7.8(L25D287T(/72D9,L-G85T(
Z577(!-.L0()Q\[ 5,67(7,5G/,L-G85
I!O
!8G/GA.8(d7.D2975
><+' 3$%6&$L' ,+"%#)"' &$+' 3("2(,+"' #5
)+&$,L'+R(&,'"%X+'6+&"($%):'20#'2#'5#($
66'%)'4%&6+2+$.'T$#3"'#5'3("2(,+"'("(=
&,,L'&$%"+'0%2<%)'&'5+0'<#($"'#)'2<+'2L3=
%-&,=&33+&$%):' 3&,6&$' &)4' 3,&)2&$' "A%)
BF%:.'C8=8E.'G)*#,*+6+)2'("(&,,L'%"'"L6=
6+2$%-';(2'()%,&2+$&,',#-&2%#)'#)'3&,6"
&)4h#$'"#,+"'%"'"++).'J%):,+',+"%#)"'2<+)
;+-#6+' "($$#()4+4' ;L' &)' +$L2<+6&=
2#("' $%):.' J#6+2%6+"1' 2<+' 3("2(,+"' +K=
2+)4' 2#' 2<+' 4#$"&' #5' 2<+' U):+$"1' 2<+
5++21' #$' #*+$' 2<+' *#,&$' 0$%"2"' B"++' F%:.
C8=8TE.'?3%"#4+"'#5')+0'3("2(,&$'+$(3=
2%#)"'#--($'&2'*&$L%):'%)2+$*&,"'&)4'$+=
6&%)' "2$%-2,L' -#)U)+4' 2#' 2<+' "%2+"' #5
3$+4%,+-2%#).
N"' 3("2(,+"' ;+-#6+' #,4+$1' 2<+%$' L+,=
,#0' -#,#$' -<&):+"' 2#' 4&$A' ;$#0)1' "#
H K
2<&2' %)' ()2$+&2+4' !!!1' 2<+' ,+"%#)"' "<#0
*&$%#("' "<&4+"' #5' -#,#$' B"++' F%:.' C8=8T
&)4 @E.' @$%+4' 3("2(,+"' &$+' "<+4' 0%2<%)
&33$#K%6&2+,L'9'2#'87'4&L".
><+$+' &$+' )#' "L632#6"' #2<+$' 2<&)
%2-<%):' #$' &' ;($)%):' "+)"&2%#)1' 0<%-<
6&L' 3$+-+4+' )+0' -$#3"' #5' ,+"%#)".
/#0+*+$1'%)'"+*+$+' +$(32%#)"1'3&%)'&)4
2<+'%)&;%,%2L'2#'"2&)41'0&,A1'#$'4#'6&)=
(&,'0#$A'6&L':$+&2,L'$+4(-+'2<+'R(&,%2L
#5',%5+.' N"'$+6%""%#)' ;+:%)"1'5+0+$'3("=
2(,+"'&$+'3$#4(-+41';(2'2<+'"A%)'6&L'$+=
6&%)'+$L2<+6&2#("'&)4'<L3+$A+$&2#2%-1
$+"+6;,%):' +-X+6&.' c+6%""%#)"' ,&"2' 5#$ " ,
4&L"1' 0++A"1' #$' 6#)2<"' ()2%,' 3("2(,&=
5789:-4I!<! $.86,L8./D.9(L25D28,5G50(H(./3(KJ(19,2L5(,C(L25D2875(67.529G/B(O(D,(R(66(G/
2%#)'&:&%)'#--($".
3G.67D79(,AA29(,/(79ND-76.D,25(5VG/(,/(L.865(./3(5,8750(j,D-(C77D(./3(S,D-(-./35(.97(/,96.88N
.CC7AD73(5N667D9GA.88N0("(./3(,J(>75G,/5(6.N(,AA.5G,/.88N(5L97.3(S7N,/3(D-7(L973G87ADG,/(5GD75T
;G57.57(#55,AG.DG,/5 ./3(L25D2875(6.N(.LL7.9(,/(D-7(J9G5D50(HGD-G/(57@79.8(3.N5(.CD79(L25D287(C,96.DG,/T(875G,/5(39NT
N)'&""#-%&2%#)'#5'!!!'&)4'#"2+#&$2<$%2%" _.DD7/T(./3(.AU2G97(.(S9,J/G5-(A,8,90(%-G5(6.N(S7(C,88,J73(SN(7AX76.D,25(A-./B75(JGD-(5A.8G/B
#5' 2<+' &)2+$%#$' -<+"2' 0&,,' 0&"' U$"2' 4+= ./3(Y5529G/B0(
"-$%;+4'%)'u&3&).8H'N"'$+3#$2+4';L'J0+4=
%"<' &(2<#$"1' %)*#,*+6+)2' #5' 2<+' 6&)(= 2%"'&"'0+,,'&"'0%2<')#)%)5+-2%#("'%)W&6= #2<+$' ,&;#$&2#$L' 2+"2"' &$+' ("(&,,L' )#$=
;$%#"2+$)&,' b#%)2' %"' 3$+"+)2' %)' H' 3+$-+)2 6&2#$L';#)+',+"%#)". 6&,.'G)' 3&2%+)2"'0%2<'&)'%)5+-2%#("'2$%:=
&)4' #5' 2<+' "2+$)#-,&*%-(,&$' b#%)2"' %)' 87 :+$1' %)5+-2%#)=&""#-%&2+4' ,&;#$&2#$L' 3&=
3+$-+)2' #5' 3&2%+)2".8Z' J-%)2%:$&3<%-' %)= "G5D,L.D-,8,BN $&6+2+$"1' "(-<' &"' T=$+&-2%*+' 3$#2+%)1
*+"2%:&2%#)"'"<#0+4'"2+$)#-#"2#-,&*%-(= 6&L' ;+' %)-$+&"+4.' G)-$+&"+4' ,+*+,"' #5
,&$'b#%)2'%)*#,*+6+)2'2#';+'3$+"+)2'%)'8H /%"2#,#:%-&,,L1'2<+$+'%"'&)'%)2$&+3%4+$6&, &)2%=:,%&4%)'&)2%;#4%+"'6&L'#--&"%#)&,,L
#5' ZP' BCC' 3+$-+)2E' 3&2%+)2".89' F#$' 2<%" -&*%2L' U,,+4' 0%2<' 3#,L6#$3<#)(-,+&$ ;+'5#()4.
-#)4%2%#)1' 2<+' 2+$6' 4?9J8' B"L)#*%2%"1 ,+(A#-L2+"' &""#-%&2+4' 0%2<' "3#):%5#$6
&-)+1' 3("2(,#"%"1' <L3+$#"2#"%"1' #"2+%2%"E -<&):+"' 0%2<%)'2<+'"($$#()4%):'+3%4+$=
<&"';++)'+"2&;,%"<+4.8D'T,%)%-&,'6&)%5+"= 6%"' BF%:.' C8=CE.' ?#"%)#3<%,"' &)4' 6&"2
2&2%#)"'#5'JN!/_'"L)4$#6+'&$+'"%6%,&$ -+,,"'&$+'3$+"+)2'%)'%)-$+&"+4')(6;+$"'%)
0<+2<+$'2<+L'#--($'%)'$+,&2%#)'2#'"+*+$+ !!!';%#3"%+"'5$#6',+"%#)&,'"A%).'N)#2<+$
&-)+' B6#"2,L' &-)+' -#):,#;&2&E' #$' !!! <&,,6&$A'%"'2<+'%)&;%,%2L'2#'*%"(&,%X+'2<+
B"++'T<&3.'Z9E.'><+'3$%6&$L',+"%#)'-#)= +3%4+$6&,'3&$2'#5'2<+'+--$%)+'4(-2'%)'!!!
"%"2"'#5'&'"2+$%,+'&;"-+""'-#)2&%)%):')+(= "3+-%6+)"'%)4%-&2%):'&)'%)*#,*+6+)2'#5
2$#3<%,".' ><+' "%2+' #5' 3$+4%,+-2%#)' %"' 2<+ 2<+'&-$#"L$%):%(6.C8
&)2+$%#$' -<+"2' 0&,,.' JN!/_' "L)4$#6+
-&)';+'&""#-%&2+4'0%2<'3"+(4#%)5+-2%#("
>.S,9.D,9N(dG/3G/B5
&$2<$%2%".'G)*#,*+6+)2'#5'2<+'"&-$#%,%&-&,
b#%)2"'6&L';+'3$+"+)2.C7 ><+' ,+"%#)"' #5'!!!'&$+'"2+$%,+i' &'6#4+$= 5789:-4I!<I "G5D,8,BGA.88NT( D-797( G5( .( 5L,/I
!!!' %"' &,"#' "++)' %)' 3&2%+)2"' 0%2< &2+,L' %)-$+&"+4' 0<%2+' ;,##4' -+,,' -#()2 BGC,96( L25D287( ./3( .( 6,379.D7( 8N6L-,-G5DG,ANDGA
-<$#)%-'$+-($$+)2'6(,2%5#-&,'#"2+#6L+,%= 6&L' #--&"%#)&,,L' ;+' #;"+$*+41' ;(2' &,, G/Y8D9.D70
I!"
#*+&,')' %97.D67/D +5U-&-L.' /#0+*+$1' &"' 2<+$+' %"' &' 5+6&,+
3$+3#)4+$&)-+'%)'!!!1'2<+'("+'#5'"L"2+6%-
9#::*.*(;#"$%9#")(-+#+ !!!' %"' 4%5U-(,2' 2#' 2$+&2' &)4' &,,' $+3#$2+4 $+2%)#%4"' %"' $+"2$%-2+4' &2' ,+&"2' %)' 0#6+)
!"#$ &'()*+ 2$+&26+)2"' <&*+' &' <%:<' $+-($$+)-+' $&2+. 0%2<' -<%,4;+&$%):' 3#2+)2%&,.' _2<+$' "L"=
;N5-G39,DGA(7AX76.(JGD-(57A,/3.9N(S.AD7I ><+'6&)&:+6+)2'#5'!!!'%"'"(66&$%X+4 2+6%-'&:+)2"'0%2<'+5U-&-L'&$+'6+2<#2$+K=
9G.8(G/C7ADG,/ %) \#K'C8=C. &2+'B87'2#'CM'6:h0++AE'&)4'-L-,#"3#$%)+.
%G/7.(,C(L.865(./3(5,875(JGD-(L25D2875 ><+' U$"2' 6+&"($+' %)' 2<+' 6&)&:+6+)2 G2'<&"';++)'"<#0)'2<&2'-L-,#"3#$%)+'%"'+5=
#5'!!!'%"'-+""&2%#)'#5'"6#A%):.'G)'3&2%+)2" 5+-2%*+'%)'&',#0=4#"+'$+:%6+)'B8'2#'C'6:h
,"-#'.)/ 0%2<'3$#*+)':,(2+)'%)2#,+$&)-+1'&':,(2+)= A:h4&LE' #*+$' &' 8=L+&$' 3+$%#4.CZ' JL"2+6%-
h79.D,3796.(S87/,99-.BGA26(G/('7GD79( 5$++' 4%+2' 0&"' 5#()4' 2#' <&*+' &' ;+)+U-%&, "2+$#%4"'&$+'#5'R(+"2%#)&;,+'*&,(+.' O%2<=
3G57.57 +55+-2'#)',+"%#)"'%)'3"#$%&"%"'&)4'!!!.CQ 4$&0&,'%"'("(&,,L'5#,,#0+4';L'&'$+;#()4.
:/@,8@767/D(,C(L.865(./3(5,875(G/(B7/79.8I N6#):' 2#3%-&,' 2$+&26+)2"' #),L' &' 5+0 ?5U-&-L' #5' 5(6&$%-' &-%4' +"2+$' 2<+$&3L' %)
GX73(L25D28.9(L5,9G.5G5 3$#-+4($+"' <&*+' ;++)' %4+)2%U+4' &"' ;+%): !!!'<&"';++)'4+-$%;+4.C9
:/C7AD73(5A.SG75(JGD-(L25D28.DG,/ #5'2<+$&3+(2%-';+)+U2.CM I)%,&2+$&,'%)*#,*+= ><+$+'%"'4+;&2+'&"'2#'0<+2<+$'>gF=
k75GA,L25D28.9(6NA,5G5(C2/B,G375(,C( 6+)2'&)4h#$'!!!'0%2<'&',%6%2+4'+55+-2'#) &)2&:#)%"2"' 6&L' ;+' ;+)+U-%&,' %)' !!!.
L.865(./3(5,875 4&%,L' ,%*%):' &-2%*%2%+"' "<#(,4' ;+' 2$+&2+4 O<+$+&"'%)'-<$#)%-' 3,&R(+'2L3+'3"#$%&=
$25D28.9(8,A.8GX73(@.5A28GDG5 0%2<' 2#3%-&,' &:+)2".' @(+' 2#' 2<+' 5&-2' 2<&2 "%"' &)4' :+)+$&,%X+4' 3("2(,&$' 3"#$%&"%"
"A%)'3+)+2$&2%#)'2<$#(:<'3&,6&$'&)4'3,&)= 2<+'&)2%=>gF' '6#)#-,#)&,'&)2%;#4L'%)=
;G.B/,5G5(./3(;GCC797/DG.8( 2&$' "A%)' %"' <%:<,L' $+"2$%-2+4' +*+)' %)' &-(2+ W%K%6&;' 0&"' 5#()4' 2#' ;+' <%:<,L' +55+-=
4%"+&"+' 0%2<' 5#-&,' "A%)' ;&$$%+$' 4%"$(32%#) 2%*+1'2<%"'&:+)2'0&"'5#()4'2#';+';#2<'#5
;G.B/,5G5 B\#K'C8=8E #),L'-+$2&%)'4$(:"'-&)';+'("+4'+55+-2%*+,L. ;+)+U-%&,' +55+-2' &)4' 2#' 0#$"+)' !!!.CD1P7
!!!'%"'&'4%"2%)-2'+)2%2L.'><+'-#($"+'#5'2<+ !#2+)2' &)4' "(3+$3#2+)2' "2+$#%4"' &$+' 2<+ G)'2<+'JN!/_'"L)4$#6+1'%)W%K%6&;',+4
4%"+&"+1' 2#:+2<+$' 0%2<' 2<+' -<&$&-2+$%"2%- 4$(:"' #5' -<#%-+' &)4' 6&L' ;+' ("+4' ()4+$ 2#' &' -#63,+2+' $+6%""%#)' #5' #"2+#&$2%-(=
6#$3<#,#:L1'3+$6%2"'2<+'3$#3+$'4%&:)#= 3,&"2%-'U,6'#$'<L4$#-#,,#%4'#--,("%#)1'3&$= ,&$' 4%"+&"+' ;(2' !!!' 4+2+$%#$&2+4' 4($%):
"%".' ><+' 4%"+&"+' 6("2' ;+' 4%55+$+)2%&2+4 2%-(,&$,L'%)'2<+';+:%))%):'#5'2<+$&3L. 2$+&26+)2.P8'?5&,%X(6&;1'&)'&)2%=T@88&
5$#6' [4L"<%4$#2%-^'+-X+6&2#("'4+$6&2%= J(;"+R(+)2' 2#3%-&,' 2<+$&3L' 0%2<' *%2&= 6#)#-,#)&,'&)2%;#4L1'"++6"'2#';+';+)+=
2%"' B3#63<#,LKE1' +"3+-%&,,L' 0<+)' 3("= 6%)' @P=&)&,#:(+"' "(-<' &"' -&,-%3#2$%#,h U-%&,'%)'!!!1';(2'+K3+$%+)-+'%"',%6%2+4.
2(,+"' 4(+' 2#' "+-#)4&$L' %)5+-2%#)' &$+ -&,-%3#2$%+)+1' 2&X&$#2+)+1' #$' &)2<$&,%)
3$+"+)2'B"++'T<&3.'8HE.'G)'2<&2'-#)4%2%#)1 6&L'3$+*+)2'&'R(%-A'$+,&3"+'%)'"#6+'3&=
2<+'#)"+2'%"'&,"#'&-(2+1';(2'-,+&$'*+"%-,+" 2%+)2".'/#0+*+$1'+*+$L'3$#,#):+4'2#3%-&, #!'=;&'<#%:%:F(!=E%:Ef#(
#5' *&$%#("' "%X+"' &$+' "-&22+$+4' #)' 2<+ "2+$#%4'("+'%"'("(&,,L')++4+4'2#'6&%)2&%) Z"#>>=$&#f[
3&,6"1' "#,+"1' &)4' *#,&$' &)4' %)2+$4%:%2&, &' 2<+$&3+(2%-' +55+-21' 3&$2%-(,&$,L' 0<+) N-$#4+$6&2%2%"'-#)2%)(&'%"'&'$&$+1'"2+$%,+1
&"3+-2"' #5' 2<+' U):+$".' ><+"+' 6&L' -#&= -#6;%)+4' 0%2<' 2<+"+' -#63#()4"' #)' &) 3("2(,&$' +$(32%#)' #5' 2<+' U):+$"' #$' 2#+"
,+"-+' &)4' "+-#)4&$%,L' ;+-#6+' 3("2(,&$ +*+$L' "+-#)4=' #$' 2<%$4=4&L' ;&"%"i' 2<%" 2<&2'",#0,L'+K2+)4"'3$#K%6&,,L.'T#)2%)=
;+-&("+'#5'"+-#)4&$L';&-2+$%&,'%)5+-2%#).' 6&L'&,"#'4+,&L'-(2&)+#("'"%4+'+55+-2". (#("' 3("2(,&2%#)' ,+&4"' 2#' )&%,' 4+"2$(-=
!("2(,&$'*&$%&)2"'#5'2%)+&'#5'2<+'3&,6" !"#$&,+)' &)4' (,2$&*%#,+2' N' ,%:<2 2%#)'&)4'&2$#3<L'#5'2<+'4%"2&,'3<&,&)K.'
&)4' "#,+"' #$' 3("2(,+"' 4+*+,#3%):' %)' %)= B!IaNE' 2$+&26+)2' <&"' ;++)' ("+4' &,#)+ G)'89991'T$#-A+$PC'4+"-$%;+4'&'$+,&3"=
5+-2+4'"-&;%+"'6&L'$+"+6;,+'!!!.'\&-2+= #$' %)' -#6;%)&2%#)' 0%2<' "L"2+6%-' $+2%= %):' ;(,,#("' &)4' 3("2(,&$' +$(32%#)' #)
$%&,'-(,2($+"'#$'4+6#)"2$&2%#)'#5'<L3<&+ )#%4"'&)4'5#()4'2#';+'+55+-2%*+. <&)4"' &)4' 5++2i' 2<%"' 0&"' 5($2<+$' 4+,%)=
#$' 6%2+"' -,+&$,L' "+3&$&2+' 2<+"+' +)2%2%+" !IaN';&2<'#$'!IaN'0%2<'&33,%-&2%#) +&2+4' ;L' /&,,#3+&(.PP' N-$#4+$6&2%2%"
5$#6'!!!.' #5'2<+'3<#2#"+)"%2%X+$'%)'&)'#%)26+)2'#$ -#)2%)(&' %"' )#0' -,&""%U+4' &"' &' 5#$6' #5
c&$+' -,%)%-&,' *&$%&)2"' "(-<' &"' *+"%-#= :+,' 5#$6(,&2%#)' "<#0+4' ;+)+U-%&,' +5= &-$#3("2(,&$'3"#$%&"%".
3("2(,&$' 6L-#"%"' 5():#%4+"' 3&,6&$%"' +2 5+-2"'%)'-&"+=-#)2$#,,+4'"2(4%+".CH
3,&)2&$%"1CC' 3("2(,&$' ,#-&,%X+4' *&"-(,%= G)'4%"&;,%):'!!!'&)4'%)'!!!'0%2<'&'<%:<
!8G/GA.8(d7.D2975
2%"1CP' #$' 3&,6#3,&)2&$' %)*#,*+6+)2' #5 5$+R(+)-L' #5' $+,&3"+' "L"2+6%-' 2<+$&3L' %"
:+)+$&,%X+4' 3("2(,&$' 3"#$%&"%"' 6&L' &,"# 3$+5+$$+4.'N'"L"2+6&2%-'$+*%+0'5#()4'$+2= N-$#4+$6&2%2%"' -#)2%)(&' 6#"2' #52+)' ;+=
$+"+6;,+'!!!. %)#%4"' 2#' ;+' 2<+' #),L' 4$(:"' 0%2<' 3$#*+) :%)"'&2'2<+'2%3"'#5'#)+'#$'20#'U):+$"'BF%:.
#*+&,'),
6.*";>*(;+%:-.%,"$>-<$"(;".%,S+;S$-+#+%"(T%/=.-T*.>";#;#+%&-(;#(S"
30$7"H/ $[N67"H/ 6N63-17"
dG95D(8G/7 $,D7/D(./3(52L79I SG3T(L8.5DGA(Y86( j.D-IL5,9.I aiJV #AGD97DG/ Q0W(6BiVBiSJi3.N
L,D7/D(5D79,G35 ,AA825G,/ 87/(./3(28D9.I
!.8AGL,D9G,8 SG3 @G,87D(8GB-D
F7A,/3 #/D-9.8G/ =/A7(3.G8N <7D-,D97M.D7 )QpOW(6BiJV
8G/7 %.X.9,D7/7 SG3 !NA8,5L,9G/7 RpW(6BiVBiSJT(J-7/(7CC7ADG@7(G/3G@G32.8(DGD9.DG,/(,C(
3,57
d26.9GA(.AG3( #AA,93G/B(D,(3,57I75A.8.DG,/(5A-767T(A,9975L,/3G/B(
75D795. D,(.(6.MG626(,C(^OQ(6B(,C(3G67D-N8C26.9.D7i3.N
%-G93(8G/7 &C.8GX26.S )(6BiVBiSJiJV
.'7BG5D7973(G/(1796./N(,/8N0
I!*
C8=PE1' ,+""' #52+)' #)' 2<+' 2#+".' ><+' )&%, ><+' 4%"+&"+' 6&L' $+6&%)' -#)U)+4' 2# >$+&26+)2'0%2<'&'-#6;%)&2%#)'#5'"L"=
5#,4"'&$+' &55+-2+4'*+$L'+&$,L1'&)4' 2$&(6& 2<+' #$%:%)&,' "%2+1' "#6+2%6+"' (3' 2#' "+*= 2+6%-'&-%2$+2%)'&)4',#-&,'-&,-%3#2$%#,h-&,=
%"' 2<#(:<2'2#'3,&L'&)'%)%2%&2%):' $#,+.' ><+ +$&,' L+&$"1' ;(2' 6#$+' #52+)' %2' "3$+&4" -%3#2$%+)+'0&"'"(--+""5(,'%)'#)+'3&2%+)2
U$"2' "%:)"' -#)"%"2' #5' "6&,,' 3("2(,+"1 3$#K%6&,,L'2#'-#*+$'2<+'<&)41'4#$"(6'#5 %)' &' ,+52=$%:<2' -#63&$%"#).PQ' G)' $+-&,-%=
0<%-<1' #)' ;($"2%):1' ,+&*+' &)' +$L2<+6&= 5#$+&$61'#$'5##2.'G)'"(-<'%)"2&)-+"'6#$+ 2$&)2' 3&2%+)2"1' 4&3"#)+' 6&L' ;+' 2$%+4.PM
2#("1' "<%)L' &$+&' %)' 0<%-<' )+0' 3("2(,+" 2<&)' #)+' +K2$+6%2L' %"' %)*#,*+4.' N-$#= c+-+)2,L1'2#3%-&,'2$+&26+)2'0%2<'2&-$#,%=
4+*+,#3.' ><+"+' 2<+)' 2+)4' 2#' -#&,+"-+1 4+$6&2%2%"' -#)2%)(&' 6&L' ;+' &""#-%&2+4 6("'7.8'3+$-+)2'#%)26+)2'&,#)+'#$'%)'"+=
5#$6%):' 3#,L-L-,%-' ,&A+"' #5' 3(".' N"' 2<+ 0%2<' :+)+$&,%X+4' 3("2(,&$' 3"#$%&"%"' #5 R(+)2%&,' -#6;%)&2%#)' 0%2<' -&,-%3#2$%#,
4%"+&"+' +K2+)4"' 3$#K%6&,,L1' 2<+' &55+-2+4 2<+'p(6;("-<'2L3+'B"++'T<&3.'89E. 0&"' 5#()4' "(--+""5(,.PH1PZ' G)' 6#$+' "+=
&$+&' "<#0"' +%2<+$' :,#""L' +$L2<+6&' #$' & *+$+' -&"+"1' >gF= ' &)2&:#)%"2"' %)W%K=
-$("2+41' A+$&2#2%-1' &)4' U""($+4' "($5&-+ %6&;1' +2&)+$-+321' &)4' &4&,%6(6&;1' 2<+
"G5D,L.D-,8,BN
0%2<' )+0,L' 5#$6+4' 3("2(,+"' ()4+$)+&2< ,&22+$'20#'%)'-#6;%)&2%#)'0%2<'&-%2$+2%)1
B"++ F%:.'C8=PE.'!("2(,&2%#)'#5'2<+')&%,';+4 ><+'6&%)'<%"2#3&2<#,#:%-'5+&2($+'#5'&-$#= <&*+';++)'"(--+""5(,,L'("+4.P9`Q7
&)4'2<+')&%,'6&2$%K'&,6#"2'&,0&L"'#--($" 4+$6&2%2%"'-#)2%)(&'%"'&'"(;-#$)+&,'-&*%2L G)' 3$%)-%3,+1' $+:%6+)"' ("+4' 5#$' 2$+&2=
&)4' R(%2+' #52+)' ,+&4"' 2#' ,#""' #5' 2<+' )&%, U,,+4'0%2<')+(2$#3<%,".'?3%4+$6&,'-+,,')+= 6+)2'#5'!!!'6&L'&,"#';+'("+4'5#$'2<+$=
3,&2+'#$'"+*+$+'#)L-<#4L"2$#3<L'B"++'F%:. -$#"%"'&)4'"3#):%#"%"'4#+"')#2'#--($1';(2 &3L'#5'&-$#4+$6&2%2%"'-#)2%)(&'B"++'\#K
C8=PE.' N-$#4+$6&2%2%"' -#)2%)(&' #5' ,#): 2<+' $##5' &)4' "<#(,4+$' X#)+"' &4b&-+)2' 2# C8=CE.' ><+' 2<+$&3+(2%-' $+"(,2' ,&"2"' &"
4($&2%#)'6&L'"<#0'-#63,+2+'4+"2$(-2%#) 2<+' 3("2(,+' "<#0' &::$+:&2+4' ,+(A#-L2+" ,#):'&"'2<+'4$(:"'&$+':%*+)1'&)4'$+,&3"+"
#5'2<+')&%,'6&2$%K'&)4'2<("',+&4'2#'&)#)L= ;+20++)' 2<+' +3%4+$6&,' -+,,"1' 5#$6%): #--($'&52+$'0%2<4$&0&,.
-<%&.' ><+' "A%)' ;+-#6+"' "<%)L' &)4' "+= "3#):%5#$6'3("2(,+".'><+$+'%"'&'6#4+$&2+
*+$+,L' &2$#3<%-1' &)4' 2<+$+' %"' &2$#3<%- ,L63<#<%"2%#-L2%-' %)U,2$&2+' %)' 2<+' (33+$
2<%))%):'#5'2<+'4%"2&,'3&$2'#5'2<+'3<&,&)K. 4+$6%"1'2#:+2<+$'0%2<'5#-&,'+4+6&.
!,2957(./3($9,B/,5G5
S+"%#)"'#5',#):'4($&2%#)'"<#0'"+*+$+ N-$#4+$6&2%2%"'-#)2%)(&'"<#0"'&'-<$#)%-
&2$#3<L' #5' 2<+' 3&3%,,&$L' 4+$6%"' &)4 -#($"+'0%2<' &'2+)4+)-L'#5'2<+',+"%#)"'2#
2<%))%):'#5'2<+'+3%4+$6%". "3$+&4'3$#K%6&,,L.'J3#)2&)+#("'%63$#*+=
6+)2'%"'$&$+1'&)4'+3%"#4+"'#5'&-(2+'3("2(=
>.S,9.D,9N(dG/3G/B5 ,&2%#)'#--($'0%2<#(2'&33&$+)2'-&("+.'><+
4+*+,#36+)2'#5'3("2(,+"'&2'#2<+$'"%2+"1'#$
JL"2+6%-' &;)#$6&,%2%+"' &$+' &;"+)21' &)4 +*+)'2<+'+$(32%#)'#5':+)+$&,%X+4'3("2(,&$
,&;#$&2#$L' 2+"2"' &$+' ("(&,,L' 0%2<%)' )#$= 3"#$%&"%"1' "(33#$2"' 2<+' %4+&'2<&2' &-$#4+$=
6&,' $&):+".' ><+' 3("2(,+"' &$+' "2+$%,+.' G) 6&2%2%"'-#)2%)(&'%"'&'*&$%&)2'#5'3"#$%&"%".
&4*&)-+4' -&"+"1' K=$&L' 6&L' $+*+&,' &2$#=
3<L'#5'2<+'4%"2&,'3<&,&)K'&)4'&$2<$#3&=
2<L'#5'2<+'%)2+$3<&,&):+&,'b#%)2". :Ed#E%:>&(#!'=$fF%f>=F:F
H G)5&)2%,+' &-$#3("2(,#"%"' %"' 4%"-(""+4' %)
;G.B/,5G5(./3(;GCC797/DG.8(;G.B/,5G5 T<&3.'87H.
N-$#4+$6&2%2%"'-#)2%)(&'&2'&)'+&$,L'"2&:+
6("2' ;+' 4%55+$+)2%&2+4' 5$#6' &-(2+' 3&$=
h&?('&d&'&E!&F
#)L-<%&'-&("+4';L';&-2+$%&'#$'5():%.'T(,= %-7(C288(97C797/A7(8G5D(C,9(.88(A-.LD795(
2($+"'&)4'"6+&$"'<+,3'$(,+'#(2'%)5+-2%#(" G5(.@.G8.S87(.D(JJJ03GB6^0A,60
-&("+".' ><+' 4%"2&,' ,#-&,%X&2%#)' &)4' 2<+
2+)4+)-L'#5'2<+'3("2(,+"'2#';+-#6+'-#)= C. N"(6&,&<2%'k'+2'&,V'Y+)+2%-'&)&,L"%"'#5
W(+)21' 5#$6%):' 4+)(4+41' +$L2<+6&2#("1 !J_cJ8' 4%"2%):(%"<+"' :(22&2+' 3"#$%&"%"
&)4' 3&,6#3,&)2&$' 3("2(,#"%".' @' B12*"+
#$'-$("2+4',+"%#)"1'4%"2%):(%"<+"'&-$#4+$= =*$3&+#- 5=9VHCZ1'C77P
6&2%2%"' -#)2%)(&' 5$#6' !!!' #$' 3("2(,&$ Q. dx"")+$'c'+2'&,V'N""#-%&2%#)'#5'>gF=CP9
4L"<%4$#2%-'+-X+6&.'N2$#3<L'&)4',#""'#5 &)4'=P79'3$#6#2#$'3#,L6#$3<%"6"'0%2<
)&%,"' 4#' )#2' #--($' %)' 2<+"+' -#)4%2%#)". 3"#$%&"%"' *(,:&$%"' &)4' 3"#$%&2%-' &$2<$%2%"
;(2')#2'0%2<'3("2(,#"%"'3&,6#3,&)2&$%".'@
T#)2&-2'4+$6&2%2%"'0%2<'"+-#)4&$L'%)5+-=
B12*"+'=*$3&+#- 5=6VC9C1'C77M
2%#)' &)4' 3("2(,&2%#)' <&"' ,+""' -,+&$,L' 4+= 87. /&:5#$"+)' ?' +2' &,V' !&,6#3,&)2&$' 3("2(=
U)+4' 6&$:%)"1' $()"' &' 4%55+$+)2' -,%)%-&, ,#"%"V' N)' &(2#%66()+' 4%"+&"+' 3$+-%3%=
-#($"+1' &)4' ,&-A"' 2<+' 3+$"%"2+)-+' 2L3%-&, 2&2+4' ;L' "6#A%):y' ?)+&' =*$3' H*1*$*#-
5#$'&-$#4+$6&2%2%"'-#)2%)(&. 7=VPQ81'C77C
C7. k&<)' dF1' T<&6#2' NdV' JN!/_' "L)=
4$#6+. 65*(3'=%"'C-%1'A#$+5'?3 57VCCM1
%97.D67/D 8DDC
C8. ?$%A""#)'d_'+2'&,V'!&,6#3,&)2&$'3("2(=
N"'%)'3("2(,&$'3"#$%&"%"1')#'"3+-%U-'4$(: ,#"%"V'&'-,%)%-&,'&)4'%66()#<%"2#-<+6%=
K -&,'"2(4L.'G$'@'=*$3&+#- 587VPD71'8DD9
%"' &;,+' 2#' %)4(-+' ,&"2%):' $+6%""%#)".' !#=
CM. d&$",&)4' Nd' +2' &,V' G)2+$*+)2%#)"' 5#$
2+)2'#$'"(3+$3#2+)2'2#3%-&,'"2+$#%4"1'3$+5= -<$#)%-'3&,6#3,&)2&$'3("2(,#"%".'C#)5$&1*
5789:-4I!<? HJ(#A9,3796.DGDG5(A,/DG/2.(376I
+$+)2%&,,L' ()4+$' #--,("%#)1' &$+' ("+5(,' %) =&+&,&"*'4."+'6*2 *29956881'C77H
,/5D9.DG/B .A9.8( L25D287( C,96.DG,/( ./3( 52S2/I ;,#-A%):' 3("2(,&2%#).'T&(2%#)'%"' &4*%"+4 PP. /&,,#3+&(' /V' J($' ()+' &"3<LK%+' ,#-&,+
B2.8( 8.V75( ,C( L25( JGD-( 375D92ADG,/( ,C( D-7( /.G8 %)'-&"+"'&,$+&4L'"<#0%):'&2$#3<L.'!IaN 4+"'+K2$w6%2w"'&*+-'3#,L4&-2L,%2+'"(33(=
L8.D70(KJ('7L7.D73(792LDG,/5(87.3(D,(/.G8(8,55(./3 $&2%*+' -<$#)%R(+' +2' 3(""w+"' w3<w6w$+"
"(33$+""+"'2<+'+$(32%#)'#5')+0'3("2(,+" 4+"'4+$6&2%2+'3("2(,+("+'4%""w6%)w+"'+2
57@797(.D9,L-N0(E,D7(L25D28.DG,/(JGD-G/(D-7(.D9,L-GA &)4'-&)';+'+63,#L+4'5#$',#):'3+$%#4"'&" "L66w2$%R(+". ?11' =*$3&+#-' 4.!5%-%0$
I!; 7LG3796G5(,C(D-7(3G5D.8(L-.8./B750 6&%)2+)&)-+'2$+&26+)2'B"++'T<&3.'CPDE. B!&$%"E 5VQC71'89D7
!"#$%&'()) &'6&) '/('*"/(") $:) ."#$%%&"'() *"%+,-'-'.
'/)/";#$%/.)0,%,22"2.)-&").'7"),/*),(-'B4 @&A<''"&9!(
'-5)$:)-&")."#,("$1.)62,/*.),-)-&'.),6"8)9-
#*+&''('
/#)*6/7*%#8%'2#..*+*$)#&"'2#&4$-,#,'-.'/*0-++1*#%'2*+3&)#)#,
@H5.M :58-,ECCN(M63,05606N(5D3M0H(-+,45D0D06N(04M+D013
B5H+ $63,05606N(,365H+5N(H38D5HD(-+,45D0D06N(04M+D013
&5,(H585. $63,05606N(H38D5HD(-+,45D0D06
&K+.0-6 #D3M0H(-+,45D0D06N(M63,05606N((%)*+%,-.*##'/0#*10)(08C+6D5D038
!2+6D(58-(J5HO $0DK,05606(,36+5N(M0DK,05606(L+,60H3.3,
98D+,D,01083E6(5,+56 $63,05606N(H58-0-05606
345678,!!9; @+J3,,2+0H( -+,45D0D06( 3C( D2+
#..(60D+6N(,E.+(3ED @+H38-5,K(6KM20.06N(M+4M201E6(C3.05H+E6
+5,.3J+(58-(+5,G
!!!
G
345678,!!9E \0-+6M,+5-(E8E6E5.(-06D,0JED038(M5DD+,8(3C(6+J3,[
,2+0H( -+,45D0D06( 08( 5( M5D0+8D( /0D2( 5HQE0,+-( 044E83-+PH0+8HK( 6K8[
-,34+(T#9:@UG(?F(;306D(M5DH2+6(38(D2+(H+8D,3C5H05.(,+1038(58-(250,K
6H5.MG(GF(;306D(.+60386(38(D2+(H2+6DG(98(M5D0+8D6(/0D2(#9:@N(D2+(-06[
? +56+(,+6M38-6(M33,.K(D3(H38L+8D0385.(D2+,5MKG
!"#$%&'()d 0.$%',.'.)<IK)0"%("/-=A).0$/6'$-'()*"%+,4
-'-'.) <IX) 0"%("/-=A) *%16) &50"%."/.'-'B'-5 &gB<=9#%9Z&
%",(-'$/.) <CN) 0"%("/-=A) ,/*) (1-,/"$1.) @4
!ED58+3E6(=+60386
SHA)#5)*"D/'-'$/A)'.)6"/"%,2'7"*)"%5-&"+,
,/*) .(,2'/6) $:) -&") .?'/) '/B$2B'/6) +$%"
345678,!:9" #MM,35H2(D3(D2+(M5D0+8D(/0D2(+FC3.05D0L+(-+,45D0D06G(!A!(p(H34M.+D+(J.33-(H+..(H3E8Dn
-&,/) [X) 0"%("/-) $:) -&") 0,-'"/-p.) .?'/) .1%4
!g'(p(H2+6D(F[,5Kn($!$(p(M,045,K(H5,+(M2K60H058G
:,(")<d'68)IK4I=8)@&")'/'-',2)0%"."/-,-'$/)'.
"%5-&"+,-$1.) 0,-(&".) -&,-) 0%$6%"..) -$
P'-$-'() %,-"A) ,/*) -&1.) /1+#"%) $: #") 31"%'"*) .0"('D(,225) %"6,%*'/6) 1.") $: 6"/"%,2'7"*)%"*)"%5-&"+,);'-&),).&'/5),04
6"%+) ("22.A) '.) '/(%",."*) '/) -&") .?'/) $: -$0'(,2) ,/*) .5.-"+'() ($%-'($.-"%$'*.A 0",%,/("8)d'/");&'-")$%)5"22$;).(,2'/6)#"4
SH8) @&") .'6/'D(,/-) .(,2'/6) $:) SH) .?'/ +"-&$-%"M,-"A),/*)$-&"%).5.-"+'()+"*'4 6'/.) ,) :";) *,5.) ,:-"%) $/."-) $:) "%5-&"+,A
%"W"(-.) *"(%",."*) -%,/.'-) -'+") -&%$16& (,-'$/.a) -$0'(,2) '%%'-,/-.a) .5.-"+'() '224 (2,..'(,225),%'.'/6)'/)-&")W"M1%".8)f2,-"42'?"
-&")"0'*"%+'.8)@&'.).(,2'/6),2.$)2",*.)-$ /"..a) '/:"(-'$/a) 0&$-$-&"%,05) #1%/.a .(,2'/6) +,5) $((1%) ,(1-"25) ,/*) $/) -&"
2$..)$:)0%$-"'/A),+'/$),('*.A),/*)/1(2"'( 0%"6/,/(5a) ,/*) "+$-'$/,2) .-%"..8) @&"%4 0,2+.) ,/*) .$2".8) @&") .(,2'/6) 0%$6%"..".
,('*.8) f%$-"'/) 2$..) +,5) '/(%",.") #5) IN +$%"612,-$%5) *'.-1%#,/("A) +,2,'."A) :,4 :1%-&"%);'-&)-&").?'/),00",%'/6)*122)%"*8
0"%("/-)-$)KX)0"%("/-)B',).(,2'/6)'/)0.$4 -'61"A) ,/*) 0%1%'-1.) ,%") ($++$/25) %"4 G%"$2,%) .0,%'/6) &,.) #""/) /$-"*) '/
%',-'() SHA) ,/*) CX) 0"%("/-) -$) CN) 0"%("/- 0$%-"*)#5)SH)0,-'"/-.a)-&".").5+0-$+. .$+")(,.".)$:)J@J^A)*%16)%",(-'$/.A)"(4
'/) /$/0.$%',-'() SH8KN) G**'-'$/,225A) 0%$4 ,%")/$-).0"('D()-$),/5)"-'$2$658) 7"+,A) 0.$%',.'.A) 0&$-$."/.'-'B'-5A) ,/*
-"'/42$.'/6) "/-"%$0,-&5) +,5) ($/-%'#1-" @'+") $:) $/."-) '.) '+0$%-,/-) -$) ,..".. fcf8K[) @50'(,225A) -&"%") '.) /$-) +1($.,2
-$)&50$,2#1+'/"+',8) 0$..'#2") "-'$2$6'".) $:) SH8) ]/."-) $:) SH '/B$2B"+"/-8
*1") -$) *%16) %",(-'$/.) '.) (2,..'(,225 _'-&)(&%$/'('-5A) "*"+,),/*)2'(&"/'D4
%,0'*A),/*)%".$21-'$/)'.),2.$):,.-"%)-&,/ (,-'$/)2",*)-$).?'/)'/*1%,-'$/8)S(-%$0'$/
!=9?9!#=(B9?:9?*@ $-&"%) (,1.".) $:) SH8) ]/") "M("0-'$/) '. ,/*) "0'0&$%,) +,5) *"B"2$0) ."($/*,%5
d'68) IK4C) '.) ,/) ,26$%'-&+) .&$;'/6) -&" SH)'/),..$(',-'$/);'-&)*%16)&50"%."/.'4 -$)(&%$/'()0"%'$%#'-,2)'/B$2B"+"/-)<d'68
,00%$,(&)-$),)0,-'"/-);'-&)SH8 -'B'-5) %",(-'$/.) *1") -$) ,/-'($/B12.,/-.A IK4K=8) f,2+$02,/-,%) ?"%,-$*"%+,) <d'68
,/-'#'$-'(.A) ,/*) ,22$01%'/$28) @&'.) %",(4 IK4R=)&,.)#""/)/$-"*)'/)10)-$)QX)0"%("/-
-'$/) *"B"2$0.) '/) I) -$) N) ;""?.) ,:-"% $:)0,-'"/-.);'-&)(&%$/'()SH8CQ
"06D3,K
+"*'(,-'$/) '.) .-,%-"*) ,/*) +,5) %"+,'/ J&%$/'() SH) ,2.$) +,/':".-.) ;'-&) .(,24
]#-,'/'/6),)*"-,'2"*)&'.-$%5)$:),)0,-'"/- $/6$'/6) ,:-"%) *'.($/-'/1,-'$/) $:) -&" '/6) $:) -&") .(,20) ,/*A) '/) .$+") (,.".A) *':4
;&$) 0%"."/-.) ;'-&) SH) '.) (%'-'(,2) -$) -&" +"*'(,-'$/8)G..$(',-"*).'6/.)$:),)0$..'4 :1.")":W1B'1+8)L,'2)(&,/6".)+,5)'/(21*"
*"-"%+'/,-'$/) $:) -&") "-'$2$658) @&") &'.4 #2") *%16) "-'$2$65) '/(21*") :"B"%A) 25+4 $/5(&$25.'.A) .1#1/61,2) &50"%?"%,-$.'.A
-$%5) (,/) 1/($B"%) 0$..'#2") 0%"('0'-,-'/6 0&,*"/$0,-&5A) $%6,/$+"6,25A) "*"+,A .02'/-"%)&"+$%%&,6".A)0,%$/5(&',A)\",1p.
(,1.".) '/(21*'/6) %"2"B,/-) 0,.-) +"*'(,2 2"1?$(5-$.'.) ;'-&) "$.'/$0&'2',A) ,/* 2'/".A),/*A)$((,.'$/,225A)$/5(&$+,*".'.8I
&'.-$%5)<&'.-$%5)$:)*"%+,-$.".A).5.-"+'( 2'B"%),/*)%"/,2)*5.:1/(-'$/8KVAKZ !&$%"42'/")/,'2.);'-&),2-"%/,-'/6)#,/*.)$:
+"*'(,2)($/*'-'$/.=A):,+'25)&'.-$%5A),/* E'.-$%5)$:)-%,/.02,/-).&$12*)%,'.").1.4 /,'2) 02,-") *'.($/-'/1'-5) %"0%"."/-) *%164
+"*'(,-'$/)1."8)f,-'"/-.);'-&)&'.-$%5)$: 0'('$/) $:) J@J^A) ,.) '-) &,.) #""/) :$1/* '/*1("*)SH)%"W"(-'/6)-&")0"%'$*.)$:)-'+"
0.$%',.'.) ,/*) ,-$0'() *"%+,-'-'.) .&$12* -&,-) -&"%") '.) ,) &'6&"%) :%"31"/(5) $:) SH -&")*%16);,.)1."*RX)<."")J&,08)QZ=8)
!!O
345678,!:9: A.+M25,0D06N( +M0M23,5N( 58-( +H[
D,3M038(08(+FC3.05D0L+(-+,45D0D06(3C(5D3M0H(-+,45D0D06G
@M+H0PH(B+5DE,+6(
3C(R8-+,.K081(:06+56+6 345678,!:9; &FC3.05D0L+(-+,45D0D06(08(M0DK,05606(,EJ,5(M0.5,06G(?3D+(O+,5D3-+,45(/0D2(58(3,581+(2E+
d",-1%".)$:)1/*"%25'/6)*'.",.".)+,5),'* 58-(D20HO+8081(3C(D2+(D2E4J(850.6G
'/)*',6/$.'.),/*),%")2'.-"*)'/)@,#2")IK4K
<."" "d'6.8)IK4R8C>R8R)'/)$/42'/")"*'-'$/=8
.'.A)25+0&$(5-$.'.A)"$.'/$0&'2',A)'/(%",."* $:) JHKA) JHRA) JHZA) JHIA) ,/*Y$%) @4("22
96SA) ,/*) ,/) "2"B,-"*) "%5-&%$(5-") ."*'4 %"("0-$% Y ) .100$%-.) -&") *',6/$.'.) $:
'+.5D+-($2K60H5.(B08-0816 +"/-,-'$/) %,-"8) d21'*) 2$..) +,5) 2",*) -$ !h7,%5).5/*%$+")'/)SH)0,-'"/-.8R[
"2"(-%$25-") ,#/$%+,2'-'".) ,/*) ,#/$%+,2
c"2,-"*) 0&5.'(,2) D/*'/6.) *1") -$) SH) $:
%"/,2):1/(-'$/)<"2"B,-"*)(%",-'/'/")2"B"2=8 "06D3M5D23.31K
,/5)"-'$2$65)+,5)'/(21*")-&"):$22$;'/6U)
S2"B,-"*) 96S) 2"B"2.) &,B") #""/) /$-"*) '/
n @&"%+$%"612,-$%5) *'.-1%#,/(".) (,/ 0,-'"/-.);'-&)SH)1/%"2,-"*)-$),-$0'()*"%4 J2'/'(,2) "B,21,-'$/) '/) ($/`1/(-'$/) ;'-&
%".12-) '/) &50"%-&"%+',) $%) 2"..) ($+4 +,-'-'.AQACCACQ)'/(21*'/6)'/)QC8K)0"%("/-)$: +12-'02") .?'/) 01/(&) #'$0.'".) $B"%) -'+"
+$/25) &50$-&"%+',a) &$;"B"%A) +$.- 0.$%',-'() SH) 0,-'"/-.8KI) S$.'/$0&'2',) '. ,%") %"31'%"*8) @&") &'.-$0,-&$2$65) *'::"%.
0,-'"/-.)($+02,'/)$:):""2'/6)(&'2258) /$/4*',6/$.-'(),/*)&,.)#""/):$1/*)'/)IX *"0"/*'/6) $/) -&") 1/*"%25'/6) *',6/$.'.8
n @,(&5(,%*',) *1") -$) '/(%",."*) #2$$* 0"%("/-)$:)SH)0,-'"/-.8CZ)E$;"B"%A);&"/ E$;"B"%A) -&"%") ,%") $:-"/) +,/5) /$/4
W$;)-$)-&").?'/),/*)W1'*)2$..)*1")-$ &'6&25) "2"B,-"*) "$.'/$0&'2) ($1/-.) ,%" .0"('D() :",-1%".) .""/) '/) SHA) '/(21*'/6
*'.%10-"*)"0'*"%+,2)#,%%'"%8) /$-"*A) -&") 0$..'#'2'-5) $:) ,..$(',-"* &50"%?"%,-$.'.A) 0,%,?"%,-$.'.A) ,(,/-&$4
n E'6&4$1-01-)(,%*',():,'21%")&,.)#""/ E$*6?'/) *'.",.") +1.-) #") '/B".-'6,-"*8 .'.A),/*),)(&%$/'()'/W,++,-$%5)'/D2-%,-"A
'/:%"31"/-25) %"0$%-"*) ."($/*,%5) -$ H"(%",."*) ."%1+) ,2#1+'/) (,/) ,2.$) #" -&,-)+,5)+,.?):",-1%".)$:)-&")1/*"%25'/6
-&")&'6&)W$;).-,-")'/)SH8RR /$-"*)'/)SH8IAQACNARN "-'$2$658) 9/) ,**'-'$/A) -&") &'.-$2$6'() :",4
n f"%'0&"%,2) 0"*,2) $%) 0%"-'#',2) "*"+, !h7,%5)("22)($1/-)+,5)#")1."*):$%)*':4 -1%".)$:)-&")1/*"%25'/6)*',6/$.'.)+,5)#"
+,5) $((1%) '/) 10) -$) NR) 0"%("/-) $: :"%"/-',-'$/) $:) !h7,%5) .5/*%$+") :%$+ +$%").1#-2")-&,/)1.1,225).""/)'/)-&,-)*'.4
0,-'"/-.8CNAII)c,%"25A):,(',2)"*"+,)&,. $-&"%)#"/'6/) (,1.".) $:) SH8) g%",-"%) -&,/ ",.") "/-'-5) ;&"/) 1/,..$(',-"*) ;'-&
#""/)%"0$%-"*)'/)*%164'/*1("*)SH8 IX)0"%("/-)('%(12,-'/6)!h7,%5)("22.)'.)*',64 SH8NX) ]/"4-&'%*) $:) #'$0.5) .0"('+"/.) $:
n g"/"%,2'7"*) 25+0&,*"/$0,-&5) $((1%. /$.-'():$%)!h7,%5).5/*%$+"A);&"%",.)2".. "%5-&%$*"%+,) :,'2) -$) %"B",2) -&") 1/*"%254
'/) +$%") -&,/) $/"4-&'%*) $: -&,/)CX)0"%("/-)'.)/$/4.0"('D(8CZAII)!h7,%5 '/6) *',6/$.'.8NX) G/) ,((1%,-") *',6/$.'.
0,-'"/-.8IACCACN) @&") (2'/'(',/) +1.-) *'.4 ("22.)+,5)#"):$1/*)'/)/1+#"%.)2"..)-&,/ ;,.) +,*") NXm) $:) -&") -'+") ;&"/) *"%4
-'/61'.&) #"-;""/) *"%+,-$0,-&'() 25+4 CX)0"%("/-)'/)."B"%,2)#"/'6/)*"%+,-$.".A +,-$0,-&$2$6'.-.) #2'/*"*) -$) (2'/'(,2) '/4
0&,*"/$0,-&5) ,/*) 25+0&$+,8) 9: '/(21*'/6)0.$%',.'.A),-$0'()*"%+,-'-'.A)*'.4 :$%+,-'$/) %"B'";"*)#'$0.'".) $:) "%5-&%$4
25+0&,*"/$0,-&5) '.) 0%$+'/"/-A) , ($'*)2101.A)2'(&"/)02,/1.A),/*)q0,%,0.$%'4 *"%+,8NC) @&"%":$%"A) +12-'02") 01/(&
25+0&)/$*")#'$0.5)+,5)#")%"31'%"*8 ,.'.8rRV)9/),**'-'$/A)31,/-'-,-'B")%",24-'+" #'$0.'".)$#-,'/"*).'+12-,/"$1.25),/*)%"4
n E"0,-$+"6,25) +,5) $((1%) '/) ,#$1- 0$25+"%,.") (&,'/) %",(-'$/) ,..,5) :$%) DB" 0",-"*) $B"%) -'+") ,%") %"($++"/*"*) -$
$/"4-&'%*)$:)0,-'"/-.IACCACN),/*)'.)+$%" 6"/".)+,5)#")1."*):$%)+$2"(12,%)*',6/$4 +,M'+'7") -&") 0$..'#'2'-5) $:) &'.-$0,-&$4
($++$/25).""/)'/)*%164'/*1("*)SH8 .'.)$:)!h7,%5).5/*%$+"RZ)<."")J&,08)CRV=8 2$6'() *',6/$.'.8) 9/) ,**'-'$/) -$) .-,/*,%*
n !02"/$+"6,25) &,.) ,2.$) #""/) %,%"25 9++1/$0&"/$-50'/6) $:) .?'/) 25+0&$4 &"+,-$M52'/) ,/*) "$.'/>.-,'/"*) ."(-'$/.
%"0$%-"*CC) ,/*) '.) +$.-) ($++$/25 (5-".) +,5) #") ,) 1.":12) ,*`1/(-) .-1*5) '/ "B,21,-"*);'-&)%$1-'/")+'(%$.($05A)B,%'4
,..$(',-"*);'-&)25+0&$+,8 *'::"%"/-',-'$/) $:) !h7,%5) .5/*%$+") :%$+ $1.) .0"(',2) .-,'/.A) '++1/$0"%$M'*,."
,(-'/'()%"-'(12$'*8)9/)0,-'"/-.);'-&)1/*"%4 .-1*'".A)6"/")%",%%,/6"+"/-).-1*'".A),/*
=5J3,5D3,K(%+6D6 25'/6),(-'/'()%"-'(12$'*ARQ)-&"%")'.),)JHQo *'%"(-)'++1/$W1$%".("/(")+,5)#")&"204
25+0&$(5-")0%"*$+'/,/("A)'/)($/-%,.-)-$ :12)'/)*"-"%+'/'/6)-&")1/*"%25'/6)(,1."8)
^,#$%,-$%5) -".-.) ,%") +$.-) $:-"/) /$/4 !h7,%5) 0,-'"/-.) ;'-&) (2$/,2) JHRo) 0%"4 @&")&'.-$2$6'()(21".)$:)1/*"%25'/6)*'.4
.0"('D(8) @&") +$.-) ($++$/) 2,#$%,-$%5 *$+'/,/("8) P$%") .0"('D(,225A) JHIQoY ",."),%"):$1/*)'/)-&")$/42'/")B"%.'$/)$:
,#/$%+,2'-'".)'/(21*"),/"+',A)2"1?$(5-$4 JHNoYLl,>YJHRo)@)("22.);'-&)%"*1(-'$/ -&'.)#$$?8
!!#
!"#$%&',(,
/7*%#8%'K*&)>+*,'-.'I$?*+"@#$4'2#,*&,*'(+-%*,,
IJ2CEBL5JO'25/C</C'(ED!C// !B5J5!<B'!BIC/
9-03M5D20H(+,KD2,3-+,45(Tq,+-(458( &.-+,.K(4+8 $,E,0DE6
6K8-,34+rU !2,380H(58-(,+.5M6081(H3E,6+ $5.43M.58D5,(O+,5D3-+,45
:+,45D3M5D20H(.K4M25-+83M5D2K
$63,05606(T6++(!25MG(`bU "06D3,K(3C(.3H5.0I+-(-06+56+`h =5,1+(.54+..5,(6H5.+6
$+,6385.(3,(C540.K(206D3,K(3C(M63,05606 $63,05D0H(850.(H2581+6^(M0D6N(30.(-,3M(6018N(38K[
!.5660H(M63,0560C3,4(M.5QE+6(38(+.J3/6N(O8++6N( H23.K606N(6EJE81E5.(2KM+,O+,5D3606
65H,E4N(+DHG !3..5,+DD+6(3C(6H5.+(6E11+6D0L+(3C(,EMDE,+-(
\+..[H0,HE46H,0J+-(M.5QE+6(5D(45,1086(3C(+,KD2,3[ ME6DE.+6(3C(ME6DE.5,(M63,05606(
-+,45 $63,05D0H(5,D2,0D06
#D3M0H(-+,45D0D06(T6++(!25MG(`_U "06D3,K(3C(.3H5.0I+-(-06+56+N`h(436D(3CD+8(43-+,5D+( !.5660H(5D3M0H(.+60386(08(58D+HEJ0D5.(58-(
D3(6+L+,+ M3M.0D+5.(C3665+
$+,6385.(3,(C540.K(206D3,K(3C(5D3MK(T5D3M0H(-+,45D0[ =0H2+80PH5D038(58-(M,E,013(83-E.5,06
D06N(56D245N(,2083H38jE8HD0L0D06U &FH3,05D0386
;5,O+-(M,E,0DE6 B3H5.(6O08(5D,3M2K(C,34(K+5,6(3C(E6+(3C(M3D+8D(
D3M0H5.(6D+,30-6
@M38103D0H(-+,45D0D06(3C(3D2+,(+D03.310+6N( :06D,0JED038(3C(3,01085.(6O08(.+60386
6EH2(56(H38D5HD(-+,45D0D06(T6++(!25MG(`dU( "06D3,K(3C(H38D5HD58D
3,(6D5606(-+,45D0D06(T6++(!25MG(`fU "06D3,K(3C(M,+[+F06D081(L+83E6(-06+56+
:,E1(,+5HD038(T6++(!25MG(_hU '+H+8D(6D5,D(3C(8+/(-,E1N(3,(E6+(3C(C,+QE+8D.K(04M.0[ =K4M25-+83M5D2K
H5D+-(-,E1 <,15834+15.K
'5M0-(386+D(3C(,562(58-(M,31,+66038(D3(+FC3.05D0L+( B+L+,
-+,45D0D06
!ED58+3E6(%[H+..(.K4M2345( @+L+,+(-+J0.0D5D081(M,E,0DE6 =K4M25-+83M5D2K
T6++(!25MG(`_cU B066E,+-N(M508CE.(O+,5D3-+,45 #.3M+H05
"+M5D36M.+834+15.K =+3808+(C5H0+6
944E83JE..3E6(-06+56+
$+4M201E6(C3.05H+E6(58-(C313(6+.L51+4( B.5HH0-(J.06D+,6
T6++(!25MG(X)U !3..5,+DD+6(3C(6H5.+(5D(60D+6(3C(M,+L03E6(J.06D+,6(
@EM+,PH05.(+,360386(58-(H,E6D6
AE..3E6(M+4M20130-(T6++(!25MG(X_U( %+86+(J.06D+,6(T+5,.K(.+60386U $,E,0DE6
:++M(+,360386(58-(6EM+,PH05.(E.H+,6 &.-+,.K(M5D0+8D
R,D0H5,05.(M.5QE+6
$5,58+3M.56D0H(M+4M201E6( ;EH365.(+,360386(58-(H,E6D081(M,3408+8D
T6++(!25MG(XdU '562(,+6+4J.+6(+,KD2+45(4E.D0C3,4+
B50.E,+(D3(D2,0L+(T0G+GN(H5H2+F05U
$5,58+3M.56D0H(&: B50.E,+(D3(D2,0L+(T0G+GN(H5H2+F05U
$0DK,05606(,EJ,5(M0.5,06(T6++(!25MG()_U 980D05.(.+6038^(@+J3,,2+0H(-+,45D0D06[.0O+(+,EMD038(3C( 96.58-6(3C(6M5,081(
D2+(6H5.M $5.43M.58D5,(O+,5D3-+,45N(3CD+8(3,581+
\3,6+8081(M36D[6E8(+FM36E,+ B3..0HE.5,(M08O(M5ME.+6(3C(+.J3/6N(/,06D6N(-3,[
*+8+,5.0I+-(65.438[H3.3,+-(6.012D.K(08P.D,5D+-(+,K[ 65.(P81+,6(3,(08(6O08(6M5,+-(C,34(&:
D2+45
!2,380H(5HD080H(-+,45D0D06(T6++(!25MG(a`U $23D3[5HH+8DE5D038
#HED+(1,5CD[L+,6E6[236D(-06+56+( "06D3,K(3C(J38+(45,,3/(D,586M.58D5D038(3,(J.33-( 980D05.(.+6038^(M5.45,(+,KD2+45
T6++(!25MG()bU D,586CE6038 $,31,+66038(D3(D3F0H(+M0-+,45.(8+H,3.K606
:+,45D34K360D06(T6++(!25MG(`XfU *3DD,38(M5ME.+6 $+,0E81E5.(D+.5810+HD5605
"+.03D,3M+(6018 ;E6H.+(/+5O8+66
$30O0.3-+,45
@5,H30-3606(T6++(!25MG(`XdU #MM.+(j+..K(M5ME.+6N(M.5QE+6N(58-s3,(83-E.+6
?3,/+1058(6H5J0+6(T6++(!25MG()hbU :3/8(6K8-,34+(3,(8E,6081(234+(M5D0+8D ;5660L+.K(D20HO+8+-(850.6
AE,,3/6 e+,5D3-+,45
&:(p(+FC3.05D0L+(-+,45D0D06G
!:2
@M+H05.(%+6D6( .5.-"+'() &50"%."/.'-'B'-5) %",(-'$/.) '/ .&$12*)#")*'.($/-'/1"*A)'/(21*'/6)*%16.
;&'(&)-&")SH)+,5)0"%.'.-):$%);""?.),:-"% .1(&) ,.) 2'-&'1+) ,/*) ,/-'+,2,%',2.) -&,-
^,#$%,-$%5) -".-'/6) '.) *%'B"/) #5) -&") 0,4 *'.($/-'/1,-'$/)$:)-&")*%16A),/*)'.).""/)'/ +,5) -%'66"%) ,) W,%") '/) 0,-'"/-.) ;'-&) 1/4
-'"/-p.)+"*'(,2)&'.-$%5),/*)(2'/'(,2)0%"."/4 ,..$(',-'$/);'-&)2'B"%),/*)%"/,2)*5.:1/(4 *"%25'/6) 0.$%',.'.8) d$2,-") .1002"+"/-,4
-,-'$/8) 9/) ,**'-'$/) -$) +12-'02") .?'/) #'$04 -'$/8)f.$%',-'(),/*),-$0'()SH)-50'(,225)'+4 -'$/),/*),)*'"-)$:)CKX)0"%("/-)$:)/$%+,2
.'".A) 25+0&) /$*") #'$0.'".) +,5) #" 0%$B".) '/) ;""?.) -$) +$/-&.a) &$;"B"%A *'"-,%5)%"31'%"+"/-.):$%)0%$-"'/),'*.)'/
'/*'(,-"*)':)-&")25+0&)/$*")"/2,%6"+"/-)'. (&%$/'(),/*)0"%.'.-"/-)(,.".)$((1%8)c"(1%4 %"02,('/6)/1-%'"/-)2$..".8KNAVX
0%$+'/"/-) ,/*) -&") (2'/'(,2) .("/,%'$) .164 %"/(")$:)0.$%',-'()SH)$((1%.)'/)CN)0"%("/- @&")-%",-+"/-)$:)SH)'.).1++,%'7"*)'/
6".-.) -&") 0$..'#'2'-5) $:) 25+0&$+,) %,-&"% $:)0,-'"/-.),:-"%)'/'-',2)%".$21-'$/8RN \$M) IK4I8) @&") "/B'%$/+"/-) .&$12*) #"
-&,/) *"%+,-$0,-&'() 25+0&,*"/$0,-&58) 9: P,2'6/,/(54%"2,-"*) SH) <'/(21*'/6 ;,%+),/*)&1+'*):$%)0,-'"/-)($+:$%-),/*
-&")($/*'-'$/)'.)-&$16&-)-$)#")0,%,/"$02,.4 J@J^=)'.)+$.-)$:-"/)(&%$/'(),/*)%":%,(4 .?'/)+$'.-1%"A),.);"22),.)0%"B"/-'/6)&50$4
-'(A) %,*'$2$6'() ;$%?10) .&$12*) #") 1/*"%4 -$%58) f$.'-'B") 0%$6/$.-'() :,(-$%.) :$%) +54 -&"%+',8) g"/-2")2$(,2).?'/) (,%"A) '/(21*'/6
-,?"/8) JHRUJHQ) %,-'$.) ,/*) '++1/$0&"4 ($.'.) :1/6$'*".) ,/*) !h7,%5) .5/*%$+"> $,-+",2)#,-&.),/*);"-)*%"..'/6.)-$);""04
/$-50'/6) $:) .?'/) ,/*) #2$$*) .&$12*) #" %"2,-"*) SH) '/(21*") ,6") 5$1/6"%) -&,/) VN '/6) $%) (%1.-"*) 2".'$/.A) #2,/*) "+$22'"/-.A
($/.'*"%"*)':),)25+0&$0%$2':"%,-'B")*'.",." 5",%.A).5+0-$+)*1%,-'$/)$:)6%",-"%)-&,/ ,/*) 2$;40$-"/(5) -$0'(,2) .-"%$'*.) .&$12*
'.)($/.'*"%"*),)0$..'#2")(,1.")$:)-&")SH8 CX)5",%.)#":$%")*',6/$.'.A),#."/(")$:)"B'4 #").-,%-"*8)E'6&40$-"/(5)-$0'(,2).-"%$'*.VC
*"/(") $:) 25+0&$+,) '/B$2B'/6) ,) 25+0& ,/*) -$0'(,2) '++1/$+$*12,-$%.A) .1(&) ,.
/$*"A) ,/*) -&") ,#."/(") $:) ('%(12,-'/6 -,(%$2'+1.AVI) .&$12*) #") ,B$'*"*) ,.) .5.4
!<;$=9!#%9<?@ !h7,%5) ("22.) '/) +5($.'.) :1/6$'*".8N[ -"+'(),#.$%0-'$/)+,5)$((1%)*1")-$)-&")'/4
!5.-"+'() ($+02'(,-'$/.) $:) SH) '/(21*" P",/) .1%B'B,2) %,/6".) :%$+) C8N) -$) CX8I (%",."*) .?'/) 0"%+",#'2'-5) ,/*) 2,%6") .1%4
W1'*) ,/*) "2"(-%$25-") '+#,2,/(".A) -&"%4 5",%.) #,."*) $/) -&".") 0%$6/$.-'() '/*'(,4 :,(") ,%",) '/B$2B"*8) 9/) ,**'-'$/A) -$0'(,2
+$%"612,-$%5) *'.-1%#,/("A) '/:"(-'$/A -$%.8N[) J$+02"-") %"+'..'$/) $((1%.) '/ '%%'-,/-.A).1(&),.),/-&%,2'/),/*)-,%A).&$12*
&'6&4$1-01-) (,%*',() :,'21%"ARR) (,%*'$4 $/"4-&'%*) $:) '*'$0,-&'() SH) 0,-'"/-.) ,/* #") ,B$'*"*8) !5+0-$+,-'() -%",-+"/-) '/4
6"/'().&$(?ANI),(1-")%".0'%,-$%5)*'.-%".. 0,%-',2)%"+'..'$/)$((1%.)'/)$/"4&,2:)$:)0,4 (21*".) ."*,-'/6) ,/-'&'.-,+'/".) :$%) 0%1%'4
.5/*%$+"ANK)*"($+0"/.,-'$/)$:)(&%$/'( -'"/-.8CQAII) f,-'"/-.) ;'-&) (&%$/'() '*'$4 -1.A),/*)*'1%"-'(.):$%)2"6)"*"+,)%":%,(-$%5
2'B"%)*'.",."ANR),/*)65/"($+,.-',8NN 0,-&'()SH),%"),-)'/(%",."*)%'.?)$:)"B$214 -$) 2"6) "2"B,-'$/8) !5.-"+'() ,/-'#'$-'(.) ,%"
d21'*),/*)"2"(-%$25-".),%")2$.-):%$+)2",?5 -'$/)-$)-&")*',6/$.'.)$:)J@J^8QACCACQAII)@&" %"31'%"*):$%)0,-'"/-.);'-&)"B'*"/(")$:)2$4
(,0'22,%'".A) ;&'(&) 2",*.) -$) W1'*) ,/*) "2"(4 0%$0$."*) +$/$(2$/,2) @4("22) *5.(%,.',) $: (,2'7"*),/*).5.-"+'()."($/*,%5)'/:"(-'$/8
-%$25-") '+#,2,/(".8) f%$-"'/) 2$..) '/(%",.". 1/*"-"%+'/"*) .'6/'D(,/(") '.) '/-"/*"*) -$ f,-'"/-.) ;'-&$1-) "B'*"/(") $:) ."($/*,%5
'/)SH)B',).(,2'/6)#5)CX)0"%("/-)-$)CN)0"%4 '/*'(,-") -&'.) 0$..'#2") 0%"4+,2'6/,/-) $% '/:"(-'$/)+,5),2.$)#"/"D-):%$+).5.-"+'(
("/-)'/)/$/0.$%',-'()SH),/*)10)-$)IN)0"%4 0%">!h7,%542'?")($/*'-'$/8IR ,/-'#'$-'() -&"%,05) ,.) #,(-"%',2) ($2$/'7,4
("/-)-$)KX)0"%("/-)'/) 0.$%',-'() SH8KN)@&'. @&") +$%-,2'-5) %,-") :$%) SH) &,.) B,%'"* -'$/)+,5)"M,("%#,-")SH8)
.'6/'D(,/-)0%$-"'/)2$..)2",*.)-$),)/"6,-'B" :%$+)K8ZN)0"%("/-)-$)VR8XX)0"%("/-)'/).'M SH)%":%,(-$%5)-$)2$(,2)-&"%,05)+,5)%"4
/'-%$6"/) #,2,/(") ,/*) +,5) (,1.") "*"+,A ."%'".)$B"%)NC)5",%.8RAQACCACRACVAIX)S,%25)."4 31'%") .5.-"+'() *"%+,-$2$6'() -&"%,05
+1.(2");,.-'/6A),/*)&50$,2#1+'/"+',8) %'".)$:)SH)%"0$%-"*)&'6&)+$%-,2'-5)%,-". ;'-&)-&"%,05)-,'2$%"*) -$)-&")1/*"%25'/6
E'6&4$1-01-) (,%*',() :,'21%") +,5) $((1% *1") -$) ."B"%") *%16) %",(-'$/.A) 25+0&$4 "-'$2$65A)':)?/$;/8)!5.-"+'()($%-'($.-"%4
*1") -$) '/(%",."*) #2$$*) W$;) -$) -&") .?'/A 0%$2':"%,-'B")+,2'6/,/(5A)0"+0&'61.):$4 $'*.).&$12*)#"),B$'*"*)'/)0,-'"/-.);'-&
,/*) '.) $:) 0,%-'(12,%) ($/("%/) '/) 0,-'"/-. 2',("1.A) ,/*) '*'$0,-&'() SH8V) @&"." 0$..'#2") 1/*"%25'/6) 0.$%',.'.8) f.$%',-'(
;'-&)(,%*',()($/*'-'$/.),/*)-&")"2*"%258RR *",-&.) ;"%") *1") -$) ($+02'(,-'$/.) .1(& SH)+,5)#")%".0$/.'B")-$)+"-&$-%"M,-"A
@&'.) .&1/-'/6) $:) #2$$*A) '/) ($/`1/(-'$/ ,.) ."0.'.A) 0/"1+$/',A) ,/*) (,%*',() :,'24 (5(2$.0$%'/"A) ,('-%"-'/A) +5($0&"/$2,-"
;'-&) '/(%",."*) -%,/."0'-&"2',2) ;,-"%) 2$.. 1%"8VACRAIX) P$%") %"("/-) .-1*'".) &,B" +$:"-'2A) ,/*) #'$2$6'(.8) 9/-%,B"/$1.) '/4
."($/*,%5)-$)B,.$*'2,-,-'$/A)2",*.)-$)-"+4 .&$;/)2$;"%)+$%-,2'-5)%,-".);'-&)+$.- W'M'+,#)$:)N)-$)CX)+6Y?6)&,.)#""/)0%"4
0"%,-1%") *5.%"612,-'$/8) @&") (,0'22,%'". *",-&.)$((1%%'/6)'/)0,-'"/-.);'-&)+,2'64 .(%'#"*);'-&)($+02"-")%"+'..'$/)$:)0.$4
(,//$-)%".0$/*),00%$0%',-"25)-$)-"+0"%,4 /,/(54,..$(',-"*) SHACACCACZ) 1.1,225) *1" %',-'()SH8VKAVR)^$;"%)*$.".)$:)'/W'M'+,#
-1%") (&,/6".) B',) B,.$($/.-%'(-'$/) ,/* -$)1/*"%25'/6)*'.",.")0%$6%"..'$/A)-%",-4 <I8Z) -$) R8R) +6Y?6=) &,B") #""/) 1."*) '/
B,.$*'2,-'$/8NV)@&")#,.,2)+"-,#$2'()%,-")'. +"/-) ($+02'(,-'$/.A) $%) ."0.'.8CC) G) %"4 ($+#'/,-'$/) ;'-&) +"-&$-%"M,-") ;'-&
,2.$) '/(%",."*A) ;&'(&) ,2.$) "2"B,-".) -&" ("/-).-1*5)*"+$/.-%,-"*),)*",-&)%,-")$: 6$$*)(2'/'(,2)%".0$/."8VN
.?'/)-"+0"%,-1%"8NZ K8ZN) 0"%("/-) <K) $:) QX) 0,-'"/-.=) '/) ,) KX4 S-,/"%("0-) &,.) #""/) 1."*) ,.) ,) .-"%$'*4
9/(%",."*).1.("0-'#'2'-5)-$)#,(-"%',2)($24 +$/-&) :$22$;410) ;'-&) *",-&.) *1") -$ .0,%'/6) ,6"/-) ;'-&) %"2'":) $:) 0%1%'-1.) '/
$/'7,-'$/)$((1%.)*1")-$)'/W,++,-'$/A)D.4 0/"1+$/',)'/)0,-'"/-.);'-&)0"+0&'61. !h7,%5).5/*%$+")'/)-;$)0,-'"/-.8VV)E$;4
.1%'/6A),/*)"M($%',-'$/)$:)-&").?'/8)!"0.'. :$2',("1.),/*)!h7,%5).5/*%$+"8CV)E'6&4 "B"%A))"-,/"%("0-).&$12*)#")1."*);'-&)(,14
+,5) $((1%) $((,.'$/,2258) f,-'"/-.) ;'-& $1-01-) (,%*',() :,'21%") &,.) ,2.$) #""/) %"4 -'$/) '/) -&".") 0,-'"/-.) #"(,1.") $:) %'.?) $:
J@J^) ,/*) &1+,/) '++1/$*"D('"/(5) B'4 0$%-"*),.),)(,1.")$:)*",-&8Q :1%-&"%) '++1/$.100%".'$/8) J@J^) +,5
%1.>0$.'-'B") SH) ,%") ,-) '/(%",."*) %'.?) :$% #") -%",-"*) ;'-&) -$0'(,2) ($%-'($.-"%$'*.A
.-,0&52$($((,2)."0.'.8I[ANKANQ 0.$%,2"/)021.)12-%,B'$2"-)GA)-$-,2).?'/)"2"(4
%'&#%;&?% -%$/) #",+) '%%,*',-'$/A) .5.-"+'() (&"+$4
9/'-',2) -%",-+"/-) $:) SH) $:) ,/5) "-'$2$65 -&"%,05) '/(21*'/6) JE]f42'?") %"6'+"/.
$'<*?<@9@(#?:( '/B$2B".) W1'*) ,/*) "2"(-%$25-") %"02,("4 <"5(2$0&$.0&,+'*"A 65*%$M5*,1/8+5('/A
!=9?9!#=(!<R'@& +"/-8) G2-&$16&) +$.-) 0,-'"/-.) (,/) #" B'/(%'.-'/"A),/*)5%"*/'.$/"=A)'/-"%:"%$/4 A
@&") (2'/'(,2) ($1%.") ,/*) 0%$6/$.'.) $:) SH +,/,6"*) $/) ,/) $1-0,-'"/-) #,.'.A) 0,4 "M-%,($%0$%",2) 0&$-$(&"+$-&"%,05A) ,/*
B,%5) *"0"/*'/6) $/) -&") 1/*"%25'/6) "-'$24 -'"/-.);'-&).'6/'D(,/-) W1'*),/*) "2"(-%$4 #'$2$6'(.) .1(&) ,.) +$/$(2$/,2) ,/-'#$*'".
$658)H%164'/*1("*)SH)'+0%$B".);'-&)*'.4 25-")'+#,2,/(")$%)(,%*'$B,.(12,%)$%)%".4 <,2"+-171+,#=AVZ) #"M,%$-"/") <."2"(-'B"
($/-'/1,-'$/) $:) -&") $::"/*'/6) *%168C) G/ 0'%,-$%5) ($+0%$+'.") %"31'%") '/0,-'"/- %"-'/$'() s) %"("0-$%) %"-'/$'*=AVQAV[) ,/*) *"4
'+0$%-,/-)"M("0-'$/)-$)-&'.)'.);'-&)."B"%" +,/,6"+"/-8) f$..'#2") $::"/*'/6) *%16. /'2"1?'/)*':-'-$M8)
!:"
#*+&',('&
G1*+&7@
CDA4>?@ $R$C8S4> -D$?58
B0,6D(.08+ <5D4+5.(J5D26 @+-5D081(58D0206D5408+6
\+D(-,+660816 @K6D+40H(58D0J03D0H6(0C(6+H38-5,K(08C+HD038
A.58-(+43..0+8D6 :0E,+D0H6(C3,(M+,0M2+,5.(+-+45
=3/[M3D+8HK(H3,D0H36D+,30-6 B.E0-(58-(+.+HD,3.KD+(,+M.5H+4+8D
@+H38-(.08+( !3,D0H36D+,30-6(C3,(-,E1(2KM+,6+860D0L0DK(,+5HD0386N( `])(41sO1s-5K(/0D2(D5M+,
T38H+(+D03.31K( 044E83JE..3E6(-06+56+N(5D3M0H(-+,45D0D06G
+6D5J.062+-U !KH.36M3,08+(C3,(M63,05606N(5D3M0H(-+,45D0D06 _]X(41sO1s-5K
;+D23D,+F5D+(C3,(M63,05606N(5D3M0H(-+,45D0D06N(M0DK,05606( X])X(41(Q/O(-+M+8-081(38(,+85.(
,EJ,5(M0.5,06 CE8HD038(58-(,+6M386+(D3(D,+5D4+8D
#H0D,+D08(T@3,05D58+U(C3,(M63,05606N(M0DK,05606(,EJ,5(M0.5,06 )X]Xh(41(Q-
;KH3M2+83.5D+(43C+D0.(C3,(M63,05606N(5D3M0H(-+,45D0D06N( `]d(1(Q-
044E83JE..3E6(-06+56+
98V0F045J(C3,(M63,05606 X]`h(41sO1
!"#$%&'-()
!"&,,#8%&)#-$'/%1*3*'.-+'(#)@+#&,#,'E>0+&'(#"&+#,'PG@7*,'5AQ5'<%%-+?#$4')-'O+#.8)1,R'&$?'O-$ST"*,6BU7*SVW
GL(C 2C/!E5(G5DJ X !B5J5!<B'!9<E<!GCE5/G5!/ 25/GE5:IG5DJ !DIE/C
9 !.5660H(5-E.D t(Xh &,KD2,3-+,45(/0D2(06.58-6(3C(83,45.(6O08( *+8+,5.0I+-N(J+1088081(38( <CD+8(,+63.L+6(/0D208(58(
Tq85MM+6(H.50,+6rUN(C3..0HE.5,(2KM+,O+,5D3606N(/5FK( D2+(2+5-(58-(8+HON(D2+8( 5L+,51+(3C(d(K
-0CCE6+(M5.43M.58D5,(O+,5D3-+,45 6M,+5-081(H5E-5..K
99 #DKM0H5.(5-E.D X !34J085D038(3C(C3..0HE.5,(2KM+,O+,5D3606(58-(0H2[ *+8+,5.0I+- =381(-E,5D038(Tt()h(KU
D2K360C3,4(.+60386(38(D2+(.+16N(6M5,6+(6H5.M(250,
999 !.5660H(jEL+80.+ `h @040.5,(D3(DKM+(9(JED(5MM+5,6(08(K+5,(`(3,()(3C(.0C+ *+8+,5.0I+- <CD+8(,+63.L+6(/0D208(58(
5L+,51+(3C(`])(K
9Z !0,HE46H,0J+- )X $,+MEJ+,D5.(H20.-,+8n(/+..[-+45,H5D+-(6H5.KN(+,K[ =3H5.0I+- R8H+,D508N(634+(H56+6(
jEL+80.+ D2+45D3E6(M.5QE+6(38(D2+(+.J3/6(58-(O8++6N( H.+5,(08(D2+(.5D+(D++86
,+6+4J.081(.3H5.0I+-(M63,05606
Z #DKM0H5.(jEL+80.+ X A+1086(08(P,6D(C+/(K+5,6N(5HH3E8D6(C3,(436D( *+8+,5.0I+- !2,380H(H3E,6+N(04M,3L+6(
C540.05.(H56+6n(C3..0HE.5,(2KM+,O+,5D3606N(6H.+,3[ /0D2(,+D0830-6(JED(,+.5M6+6(
-+,45[.0O+(5MM+5,58H+(3C(D2+(258-6(58-(C++D /2+8(D2+K(5,+(6D3MM+-
Z9 "E458(044E83-+P[ ?# @040.5,(D3(DKM+(9(/0D2(L5,05J.+(J+1088081n(5663H0[ *+8+,5.0I+- ;5K(,+6M38-(D3(58D0,+D,3[
H0+8HK(L0,E6(08C+HD038( 5D+-(/0D2(5H8+(H381.3J5D5N(20-,5-+80D06(6EMME,5[ L0,5.(D,0M.+(D2+,5MK
5663H05D+- D0L5N(58-(.0H2+8(6M08E.36E6
?#(p(-5D5(83D(5L50.5J.+G
!::
#%$,*) .&$%-) %"-") %'*6".A) ,/*) ,2-"%/,-'/6
$%-&$?"%,-$.'.) ,/*) 0,%,?"%,-$.'.) $%'4
"/-"*)'/)#$-&)&$%'7$/-,2),/*)B"%-'(,2)*'4
%"(-'$/.) (,/) #") $#."%B"*) <."") f'-5%',.'.
c1#%,) f'2,%'.) G-) ,) g2,/("=8) O.1,225A
-&"%")'.),).0,%.").10"%D(',2A)0"%'B,.(12,%
25+0&$(5-'()'/D2-%,-")'/)-&") 1/*"%25'/6
*"%+'.8) l"%,-'/$1.) 0216.) $:) -&") :$22'(14
2,%) '/:1/*'#12,) ,.) ;"22) ,.) 0"%':$22'(12,%
,%",.) $:) 0,%,?"%,-$.'.) +,5) ,2.$) #"
0%"."/-8)G)0%$+'/"/-)6%,/12,%)2,5"%),/*
*'2,-"*A)#1-)/$-) -$%-1$1.A)(,0'22,%'".),%"
:",-1%".)-&,-)&"20)-$)*'.-'/61'.&)0'-5%',4
.'.)%1#%,)0'2,%'.):%$+)0.$%',.'.A)-&")+$.-
'+0$%-,/-)*'::"%"/-',2)*',6/$.'.8
:9BB&'&?%9#=(:9#*?<@9@
!"" \$M)IR4C8
? G
!<;$=9!#%9<?@
!5.-"+'().5+0-$+.),%")1/($++$/)"M4
345678,!;9" #HE4085D+(C3..0HE.5,(M5ME.+6(3C(M0DK,05606(,EJ,5(M0.5,06G(!.36+[EM6(3C(-06H,+D+(T?U(58- ("0-) ;&"/) 6"/"%,2'7"*) "%5-&%$*"%+,
H38VE+8D(TGU(.+60386G $((1%.A),/*)-&"/)-&"5),%")($+0,%,#2")-$
-&$.").""/)'/)"M:$2',-'B")*"%+,-'-'.8)](4
!$+") %"0$%-.) &,B") *".(%'#"*) ,) -50" /"$02,.',8) J$/($+'-,/-) %&"1+,-$2$6'( (,.'$/,225A) ,) +'2*) "(-%$0'$/) +,5) *"4
F9) B,%',/-) ,..$(',-"*) ;'-&) &1+,/) '+4 *'.$%*"%.A) +,'/25) '/W,++,-$%5) 0$25,%4 B"2$0);&"/)-&"):,(")#"($+".)1/':$%+25
+1/$*"D('"/(5) B'%1.) <E9F=) '/:"(-'$/8R -&%'-'.A)&,B"),2.$)#""/)%"0$%-"*8)9/),**'4 "%5-&"+,-$1.8) G2-&$16&) -&"5) ,%") %,%"A
@&") (2'/'(,2) :",-1%".) $:) -&'.) B,%',/-) ,%" -'$/A)/1+"%$1.)$-&"%)/$/4(1-,/"$1.)*'.4 +$*"%,-") -$) ."B"%") 0%1%'-1.) $%) #1%/'/6
.'+'2,%) -$) -&$.") $:) -50") 9) #1-) ;'-&) '/4 ",.".)&,B")#""/)($/.'*"%"*)-$)#")%"2,-"* ."/.,-'$/.)+,5)$((1%8
(%",."*)."B"%'-5),/*),**'-'$/,2)+,/':".4 -$) 0'-5%',.'.) %1#%,) 0'2,%'.A) ;&'(&) '/) ,22
-,-'$/.) $:) ,(/") ($/62$#,-,A) &'*%,*"/'-'. (,.".)0%$#,#25)$((1%%"*):$%-1'-$1.258
.1001%,-'B,A),/*)2'(&"/).0'/12$.1.8 $'<*?<@9@(#?:(
!=9?9!#=(!<R'@&
$#%"<=<*> @&") (2,..'() ,*12-) *'.",.") <-50") 9=) 1.1,225
'+.5D+-(B08-0816
f,-&$2$6'()D/*'/6.)'/)0'-5%',.'.)%1#%,)0'4 %"+'-.)($+02"-"25);'-&'/),/),B"%,6")$:)K
@&"%")&,B")#""/)%,%")(,.".)$:),)0'-5%',.'. 2,%'.) B,%5) ,(($%*'/6) -$) -&") *1%,-'$/) $: 5",%.) <."") @,#2") IR4C=8) c"(1%%"/(".) ,%"
%1#%,)0'2,%'.>2'?") "%10-'$/A) (2'/'(,225) ,/* -&")*'.",."8)@&")D/*'/6.),%")+$.-)2'?"25 %"($6/'7"*) '/) 10) -$) IX) 0"%("/-) $:) 0,4
&'.-$2$6'(,225A) '/) 0,-'"/-.) ;'-&) *"%+,-$4 -$) #") *',6/$.-'() '/) -&") ,(1-") 0&,."A -'"/-.A)&$;"B"%A).$+"-'+".),:-"%)2$/6)0"4
+5$.'-'.A) $:-"/) ,..$(',-"*) ;'-&) '/-"%/,2 ;&"/) &50"%?"%,-$.'.A) ,(,/-&$.'.) ;'-& %'$*.)$:).1#(2'/'(,2)*'.",."8)9/)-&")(2,..'(
`1B"/'2") B,%',/-) <-50") 999=A) .0$/-,/"$1.
(2",%'/6)'.)($++$/25)$#."%B"*)'/)C)-$) I
5",%.8) @&") ,-50'(,2) B,%',/-.) <-50") 99) ,/*
9F=A)&$;"B"%A)&,B"),)2"..):,B$%,#2")0%$64
/$.'.):$%)%"+'..'$/A),2-&$16&).$+")(,.".
$:) -50") 9F) '+0%$B") '/) -&") 2,-") -""/.8
@&"%")'.)2'--2")$%) /$)-"/*"/(5) :$%) -50")F
-$) %".$2B") .0$/-,/"$1.25a) '+0%$B"+"/-
;'-&) ,*+'/'.-%,-'$/) $:) .5.-"+'() %"-'4
/$'*.)&,.)#""/)*".(%'#"*A)#1-)%"2,0.".)$(4
(1%%"*) ;&"/) -%",-+"/-) ;,.) ;'-&*%,;/8
J2'/'(,2) +,/':".-,-'$/.) '/) -&") E9F) '/:"(4
-'$/>,..$(',-"*)-50")F9),%")."B"%"),/*)$(4
(,.'$/,225):,-,2A);'-&)*",-&)$((1%%'/6)*1"
-$)($+02'(,-'$/.)$:)(1-,/"$1.)."0.'.8
%'&#%;&?%
f,-'"/-.) ;'-&) 0'-5%',.'.) %1#%,) 0'2,%'.) ,%"
? G $:-"/) 1/%".0$/.'B") -$) +12-'02") -&"%,4
0'".A) #$-&) -$0'(,2) ,/*) .5.-"+'(8N) \"4
345678,!;9! *+8+,5.0I+-(M0DK,05606(,EJ,5(M0.5,06G('+--062(3,581+N(6H5.081(-+,45D0D06(T?U(/0D2(06.58-6 (,1.")$:)-&")%"2,-'B")%,%'-5)$:)-&")*'.",."
3C(83,45.(6O08(Tq85MM+6(H.50,+6rU(TGUG ,/*) '-.) B,%',#2") ($1%."A) -&") (&,/(".) :$%
!:;
#*+&'-()
2#..*+*$)#&"'2#&4$-,#,'-.'(#)@+#&,#,'
E>0+&'(#"&+#,
!"#$%&'()*+
=3H5.0I+-
S($63,05606
S(B3..0HE.5,(0H2D2K3606
*+8+,5.0I+-
S($63,05606
S(&,KD2,3O+,5D3-+,405(L5,05J0.06
,"-#'.)/
=3H5.0I+-
S(B3..0HE.5,(+HI+45
S(=0H2+8(,EJ+,(5HE4085DE6
S(e+,5D3606(M0.5,06
*+8+,5.0I+-
S($0DK,05606(.0H2+830-+6(H2,380H5
S(?38JE..3E6(0H2D2K360C3,4(+,KD2,3-+,45
? G
3*45+#%01*)%21$
345678,!;9: e+,5D3-+,45(08(M0DK,05606(,EJ,5(M0.5,06G($5.45,(T?U(58-(M.58D5,(TGU(+,KD2+45(58-(/5FK *+8+,5.0I+-(TD2+,5MK[,+606D58D(H56+6U
2KM+,O+,5D3606(5,+(C,+QE+8D(4580C+6D5D0386G(@34+D04+6N(D2+,+(06(58(3,581+[K+..3/(D08DG S("E458(044E83-+PH0+8HK(L0,E6(08C+HD038
S(!ED58+3E6(%[H+..(.K4M2345
(2'/'(,2)-%',2.)-$),.."..)-%",-+"/-)$0-'$/. +$.-)0,-'"/-.),%")-%",-"*)D%.-);'-&),('-%"4
,%") 2'+'-"*8) f%"B'$1.) -%",-+"/-) .-%,-"4 -'/)-$*,58)@&"%,05);'-&)+"-&$-%"M,-"A)1.4
6'".A);&'(&)%"2'"*)$/)+"6,*$.".)$:)$%,2 '/6)-&")61'*"2'/".)".-,#2'.&"*):$%)0.$%',.'. $:) -1+$%) /"(%$.'.) :,(-$%4 A) ;&'(&) '.
B'-,+'/)G)$%)-&"),/,#$2'().-"%$'*).-,/$4 &,.) .&$;/) B,%',#2") %,-".) $:) .1(("..8 #"/"D(',2) '/) 0.$%',.'.) ,/*) 0.$%',-'() ,%4
7$2$2A)0%$B"*)-$)#")2,%6"25)'/"::"(-'B"8 !$+")(,.".)%".0$/*);"22)-$)0&$-$(&"+$4 -&%'-'.A) '.) "::"(-'B") '/) -&") ,*12-4$/."-
J1%%"/-25A)$%,2)%"-'/$'*.),%")-&")D%.-)2'/" -&"%,05)<0.$%,2"/);'-&)12-%,B'$2"-)G)0&$4 -50")9)$:)0'-5%',.'.)%1#%,)0'2,%'.8Q
$:)-&"%,05)'/)0,-'"/-.);'-&)0'-5%',.'.)%1#%, -$-&"%,05=A) .$+") +,5) W,%"A) ,/*) $-&"%. @$0'(,2) -%",-+"/-) ;'-&) ?"%,-$25-'(.
0'2,%'.8) 9.$-%"-'/$'/) &,.) #""/) %"0$%-"*) -$ %"31'%") ($+#'/,-'$/) -%",-+"/-) ;'-&) %"-'4 <;&"/)0$..'#2"A)1/*"%),/)$((21.'B")02,.4
#")$:)B,21"A),2-&$16&),)($+0%"&"/.'B")%"4 /$'*.) $%) +"-&$-%"M,-"8) 9/) 0,-'"/-.) ;'-& -'()*%"..'/6=)&,.)0%$B"*),)B,21,#2")+$*"
B'";).166".-.)-&,-),('-%"-'/)+,5)#")+$%" ."B"%") .5+0-$+.A) "::"(-'B") ,+"2'$%,-'$/ $:) ,*`1B,/-) -&"%,05) '/) 0'-5%',.'.) %1#%,
"::"(-'B") '/) (2",%'/6) 2".'$/.8) G(($%*'/625A $:) -&") *'.",.") +,5) %"31'%") "M-%,($%0$4 0'2,%'.8) d$%) .5+0-$+,-'() %"2'":A) "+$24
%",2) 0&$-$0&"%".'.8) 9++1/$.100%"..'B" 2'"/-.),/*),/-'&'.-,+'/".)0%$B'*").'6/':4
,6"/-.) ,%") $:) '/($/.'.-"/-) #"/"D-8) @&1.A '(,/-)#"/"D-8)@$0'(,2)-&"%,05);'-&)(,2('4
($/-%$B"%.5)0"%.'.-.),#$1-)-&")%$2")$:)(54 0$-%'$2) .&$;"*) "/($1%,6'/6) %".12-.8) 9-.
(2$.0$%'/") '/) -&") -%",-+"/-) $:) 0'-5%',.'. *'.,*B,/-,6") '.) -&,-) -$-,2) #$*5) -%",-4
%1#%,)0'2,%'.8)G2-&$16&)+$.-).-1*'".).&$; +"/-) :$%) -&") "%5-&%$*"%+'() 0,-'"/-)(,/
2,(?)$:)":D(,(5A)."B"%,2)(,.".)$:),*12-4-50" #")-$M'(8)!1(("..)&,.)#""/)%"0$%-"*);'-&
0'-5%',.'.) %1#%,) 0'2,%'.) .&$;"*) .'6/'D(,/- -$0'(,2),+'/$/'($-'/,+'*")C)0"%("/-A),24
(2",%,/(")'/) I) -$) R) ;""?.) ;'-&)-&'.)-&"%4 -&$16&)'-)'.)/$-)($++$/25)1."*8N
,058)!$+")0,-'"/-.),%")&"20"*)#5),7,-&'$4 f'-5%',.'.)%1#%,)0'2,%'.),..$(',-"*);'-&
0%'/"A) #1-) -&'.) "::"(-) '.) ,2.$) '/($/.'.-"/-8 E9F) '/:"(-'$/) &,.) %".0$/*"*) -$) -%'02"
@&") 1.") $:) 621($($%-'($.-"%$'*.) '/) -&" ,/-'%"-%$B'%,2)-&"%,058R
+,/,6"+"/-)$:)0'-5%',.'.)%1#%,)0'2,%'.)&,. J1%%"/-) -&"%,0"1-'() $0-'$/.) :$%) 0'-54
?
#""/).-1*'"*A)#1-)-&"%")'.)/$)"B'*"/(")-$ %',.'.) %1#%,) 0'2,%'.) 1."*) '/) ,*12-.) ,/*
.166".-) ,) #"/"D(',2) "::"(-8) _&"-&"%) 0&$4 (&'2*%"/)<'/(21*'/6)*%16)*$.".=),%")2'.-"*
-$-&"%,05)(,/)#")"::"(-'B")'.)($/-%$B"%.',28 '/ \$M)IR4I8
O2-%,B'$2"-) \) '%%,*',-'$/A) ;&'(&) '.) ":D4
('"/-25) 1."*) :$%) 0.$%',.'.A) &,.) /$-) #""/
&"20:12) $%) &,.) "B"/) ;$%."/"*) 0'-5%',.'.
$'&Z&?%9<?
%1#%,) 0'2,%'.8V) O2-%,B'$2"-) GC) 0&$-$-&"%4 f'-5%',.'.) %1#%,) 0'2,%'.) '.) ,) %,%") #1-) .$4
,05)+,5)#"),).,-'.:,(-$%5),2-"%/,-'B"8 (',225),/*)0.5(&$2$6'(,225)*'.,#2'/6)($/4
_&"/) ($/B"/-'$/,2) -%",-+"/-) .-%,-"4 *'-'$/A) $((1%%'/6) '/) (&'2*%"/) ,/*) ,*12-.
6'".) :,'2A) /";) -&"%,0"1-'() ,00%$,(&". $:)#$-&) ."M".8)!1'('*")%"+,'/.),) %'.?)'/
G +,5)'/(21*")-&")1.")$:)'++1/$+$*12,4 0,-'"/-.) ;'-&) 6"/"%,2'7"*) *'.",."8
-$%5)*%16.8)d1+,%'(),('*)".-"%.);"%")%"4 l/$;2"*6") $:) -&") (2'/'(,2) 0,--"%/) ,/*
345678,!;9; 7EL+80.+(M0DK,05606(,EJ,5(M0.5,06^ 0$%-"*) ,.) .1(("..:12) '/) '/*1('/6) %"+'.4 (1-,/"$1.) D/*'/6.A) -&"%":$%"A) '.) (%1(',2
?F(!38VE+8H+(3C(.+60386(.+5-6(D3(+FD+860L+(+,KD2[ .'$/)'/),)0,-'"/-);'-&)`1B"/'2")0'-5%',.'. -$)0"%+'-)",%25)-&"%,0"1-'()'/-"%B"/-'$/
,3-+,45G( GF( !25,5HD+,06D0H( 6H5DD+,+-( 06.58-6( 3C %1#%,) 0'2,%'.) 1/%".0$/.'B") -$) -&") 1.1,2 ,/*)+,5),22$;)0%"B"/-'$/)$:)0%$-%,(-"*
E85CC+HD+-( 6O08( 5,+( +L0-+8DG( @3( 06( D2+( M.58D5, -%",-+"/-) $0-'$/.8Z) P$%"$B"%A) -&"%") '. '22/"..),/*)."%'$1.)($+02'(,-'$/.)'/)-&'.
2KM+,O+,5D3606G .$+")"B'*"/(")'/*'(,-'/6)-&,-)#2$(?,*" (2'/'(,225)(&,22"/6'/6)($/*'-'$/8
!:<
#*+&'-(' e&>('&B&'&?!&@(
G+*&)3*$),'.-+'(#)@+#&,#,'E>0+&'(#"&+#,
C8 g%':D-&.) _GHU) f'-5%',.'.) %1#%,) 0'2,%'.8
347$C,@4B8 $8>DB-,@4B8 -*+)'GA5'@!,%&48* )UCXNA)C[QX
%3M0H5. %3M0H5. I8 ^,%%"61")P)"-),2U)G(1-")0'-5%',.'.)%1#%,
0'2,%'.) '/) -&") (&'2*8) E))' @!,%&48*
S(&43..0+8D6(T/5D+,(08(30.(+4E.6038U S(*.EH3H3,D0H30-6(T4+-0E4(D3(2012( K!)!,!8* %%&UIICA)C[QK
S(e+,5D3.KD0H6(T65.0HK.0H(5H0-N(E,+5U M3D+8HKU K8 \"-22$(&)9)"-),2U)G(1-")`1B"/'2")0'-5%',.'.
S(Z0D5408(:d(TH5.H0M3D,03.U S(Z0D5408(#(585.31E+6(TD5I5,3D+8+U %1#%,) 0'2,%'.U) G) .10"%,/-'6"/) +"*',-"*
$2K60H5. $2K60H5. *'.",."8 :!.+&4,'@!,%&48* %"URCCA)IXXC
R8 g$/7t2"74^u0"7)G)"-),2U)E9F4,..$(',-"*
S($23D3H2+43D2+,5MK(TD3M0H5.(3,(6K6D+40H( S(R.D,5L03.+D(#`(M23D3D2+,5MK 0'-5%',.'.)%1#%,)0'2,%'.)%".0$/.'B")-$)-%'4
M63,5.+8(M.E6(E.D,5L03.+D(#U S(?5,,3/J58-(E.D,5L03.+D(A(M23D3D2+,5MK 02") ,/-'%"-%$B'%,2) -&"%,058) F,' D' @!,%&48*
S(&FD,5H3,M3,+5.(M23D3M2+,+606 S(R.D,5L03.+D(A(M23D3D2+,5MK %(&U[KCA)C[[[
@K6D+40H @K6D+40H N8 J2,5-$/)\H)"-),2U)G*12-)0'-5%',.'.)%1#%,
0'2,%'.U)G)CX45",%)(,.")."%'".8)D'E%'E"&.
S('+D0830-6(ThGX(D3(hGfX(41sO1(5H0D,+D08(M+,( S(#I5D203M,08+(T`hh(D3(`Xh(41s-5KU @!,%&48* !'U[N[A)C[[Z
-5KU S(!KH.36M3,08+(#(TX(41sO1s-5KU V8 9%"*,2") ESA) P"6'--) !jU) f&$-$."/.'-'B"
S(;+D23D,+F5D+(T`h(D3()X(41(/++O.KN(08D,5[ S(BE45,0H(5H0-(+6D+,6f 0'-5%',.'.)%1#%,)0'2,%'.8)-*+)'GA5'@!,%&48*
4E6HE.5,.K(3,(3,5..KN(08(-0L0-+-(-36+6N( S(%E43,(8+H,3606(C5HD3,[ (58D513806D6b !%UKVA)IXXV
Z8 J$%,.)\)"-),2U)d1+,%'(),('*)".-"%.)-&"%,05U
38H+(5(/++OU G) /";) -%",-+"/-) +$*,2'-5) '/) 0'-5%',.'.
S(%,0M.+(58D0,+D,3L0,5.(D2+,5MK(TC3,(2E458( %1#%,)0'2,%'.v)F,'D'@!,%&48* %)#UKQQA)IXXN
044E83-+PH0+8HK(L0,E6]5663H05D+-( Q8 ^',$)_JA)P1-,.'+)HdU)9/W'M'+,#):$%)-&"
L5,058DU -%",-+"/-) $:) ,*12-4$/."-) 0'-5%',.'.) %1#%,
0'2,%'.8 E,"6'@!,%&48* %(%URIKA)IXXN
!"#$%&'()X "6!)8+.!0'!4'L&,+8*+=8,%+0'&"94&)<f^SFG=),/*
5+47,+&0+0'*+"6!)8+.!0'"6,8)+"&)<f^J=A)%".0"(4
*"B"2$0) ;'-&) $1%) 1/*"%.-,/*'/6) $:) -&"
0,-&$6"/".'.) $:) #$-&) (&%$/'() *"%+,-'-'.
-'B"25x8C) f'-5%',.'.) 2'(&"/$'*".) ;,.) D%.- ,/*) +5($.'.) :1/6$'*".) <Pd=A) #"(,1."
*".(%'#"*)'/)CQ[R)#5)L"'.."%Z),/*)j,*,.4 0,%,0.$%',.'.),00",%.)-$)#%'*6")-&".")*'.4
A/(/T1'(*/1*1,/UV, .$&/8Q) 9/) CQ[[) j12'1.#"%6) *"2'/",-"*) -&" $%*"%.8)@&")@)("22.)-&,-)+"*',-")+$.-)'/4
(&%$/'():$%+),/*)/,+"*)'-)f^J8[)P1(&, W,++,-$%5) .?'/) *'.",.".) #"2$/6) -$) -&"
A*0P(*/1*1,@*+)%U'*V%1 %"*".(%'#"*) -&") ,(1-") :$%+) '/) C[CV) ,/* .?'/4,..$(',-"*)25+0&$'*)-'..1")<!G^@=8CN
*'.-'/61'.&"*)'-):%$+)-&")(&%$/'():$%+8CX @&".")@)("22.)"M0%"..)-&")(1-,/"$1.)25+4
*5,K(@G(\33- E,#"%+,//) /,+"*) -&") ,(1-") B,%',/- 0&$(5-"4,..$(',-"*),/-'6"/),/*)-%,:D()#"4
!2E81["381("E f^SFG) '/) C[IN8CC) P1(&,4E,#"%+,// -;""/)-&").?'/),/*)-&")@4("22)*$+,'/.)$:
#8-,+5(=G(*5,,+DD *'.",.") '.) .5/$/5+$1.) ;'-&) f^SFG8 0"%'0&"%,2)25+0&)/$*".)B',)-&")25+0&,-4
!$+") ,1-&$%.) %"6,%*) 25+0&$+,-$'* '(.),/*)#2$$*.-%",+8)Pd)<."")J&,08)CRV=
0,012$.'.) ,.) ,) B,%',/-) $:) 0'-5%',.'.) 2'4 &,.) #""/) .&$;/) -$) #") ,) /"$02,.+) $:
$#'#$@<'9#@9@ (&"/$'*".A);&"%",.)$-&"%.)($/.'*"%)'-)-$ !G^@)@)("22.8)!"/.'-'B")0$25+"%,.")(&,'/
#") ,) ."0,%,-") *'.",."8CACI>CR) ^5+0&$+,4 %",(-'$/)<fJc=>#,."*)-1+$%)(2$/,2'-5),.4
"06D3,0H5.(#6M+HD6 -$'*) 0,012$.'.) '.) *'.(1.."*)'/)J&,08) CRV .,5.) &,B") 1/*"%.($%"*) -&") !G^@) /,-1%"
G.).&$;/)'/)@,#2")IN4CA)-&")(1%%"/-25),(4 ,.)0,%-)$:)-&").0"(-%1+)$:)JHKXo)(1-,/"4 $:)Pd)-1+$%)(2$/".)#5).&$;'/6)-&,-)-&"5
("0-"*) (2,..'D(,-'$/) $:) 0,%,0.$%',.'.) '/4 $1.)25+0&$0%$2':"%,-'B")*'.$%*"%.8 (,/) ($/-'/1") -$) -%,:D() ,:-"%) /"$02,.-'(
(21*".) 2,%6") ,/*) .+,22402,31") :$%+.) $: -%,/.:$%+,-'$/CV),/*)(,/)"B"/)0,%-'('0,-"
0,%,0.$%',.'.) "/) 02,31".) <$:-"/) %":"%%"* &M0-+403.31K '/) *"2,5"*4-50") &50"%."/.'-'B'-5) %",(4
-$).'+025),.)5&,&508,+&0+0=),.);"22),.),(1-" -'$/.) -$) ($/-,(-) ,22"%6"/.8CZ) @&'.) '+02'".
,/*) (&%$/'() :$%+.) $:) 0'-5%',.'.) 2'4 ^,%6"402,31") 0,%,0.$%',.'.) <^ff=) ,/* -&,-) %,-&"%) -&,/) #"'/6) ,) .?'/) 25+0&$+,
(&"/$'*".) w?/$;/) -$*,5) ,.) 5+47,+&0+0' *+; .+,22402,31") 0,%,0.$%',.'.) <!ff=) ,%"A) '/ 0"%)."A)Pd)'.),(-1,225),)!G^@)25+0&$+,a
6"/"%,2A) *'.",.".) $:) +'**2"4,6"*) ,/* -&,-) '.A) ,) +,2'6/,/(5) $:) ,) @4("22) ('%(1'-
$2*"%) 0"$02"A) ;'-&) ,) 0",?) '/('*"/(") '/ %,-&"%)-&,/)$:)$/")0,%-'(12,%)-'..1"8)@%,:4
!"#$%&'.() -&") D:-&) *"(,*"8) ]((,.'$/,225A) 2".'$/. D(?'/6) $:) Pd) -1+$%) ("22.) &,.) #""/) *"4
!"&,,#8%&)#-$'-.'(&+&7,-+#&,#, ,%'.")'/)(&'2*&$$*),/*)+,5)#"),..$(',-"* -"(-"*) "B"/) '/) 0,-'"/-.) ;'-&) B"%5) ",%25
`G($5,5M63,05606(+8(M.5QE+6 ;'-&)0'-5%',.'.) 2'(&"/$'*".8) !ff) .&$;.), .-,6")*'.",.");&$.")2".'$/.);"%")($/.'.4
#G(=5,1+[M.5QE+(M5,5M63,05606 *"D/'-") +,2") 0%"*$+'/,/(") $:) ,00%$M'4 -"/-) (2'/'($0,-&$2$6'(,225) ;'-&) ^ff8CVACQ
Z5,058D6^(M30O0.3-+,45D3E6N(,+D0C3,4 +,-"25) KUC8) ^ff) '.) 0%$#,#25) +$%") ($+4 @&"%":$%"A) '-) (,/) #") .,'*) -&,-) ,-) 2",.-) '/
AG(@45..[M.5QE+(M5,5M63,05606 +$/)'/)+,2".A)#1-)-&")*'::"%"/(")'.)/$-),. .$+")(,.".)^ff)'.),)+$/$(2$/,2)0%$2':"%,4
Z5,058D^(-010D5D+(-+,45D3606 .-%'?'/6),.)'/)!ff8)\$-&)$((1%)'/),22)%,(',2 -'$/)$:)!G^@)@)("22.)-&,-)&,B")-&")(,0,(4
)G($0DK,05606(.0H2+830-+6 6%$10.),/*)6"$6%,0&'()%"6'$/.8 '-5)-$)-%,:D()#"-;""/)-&").?'/),/*)"M-%,4
#G($0DK,05606(.0H2+830-+6(H2,380H5( (1-,/"$1.).'-".8
T7E.0E6J+,1U &D03.31K(58-($5D231+8+606 @&'.) B'";) '.) ,2.$) .100$%-"*) #5) -&"
AG($0DK,05606(.0H2+830-+6(+D(L5,03.0C3,406( 0%"."/(") $:) .-%1(-1%,2) ,/*) /1+"%'(,2
5HED5(T;EH25["5J+,4588U 9-)'.)2'?"25)-&,-),)($+02"-")1/*"%.-,/*'/6 (&%$+$.$+,2) ,#/$%+,2'-'".) '/) -&") 0"4
!:= $:) -&") 0,-&$6"/".'.) $:) 0,%,0.$%',.'.) ;'22 %'0&"%,2) #2$$*) +$/$/1(2",%) ("22.) $:) 0,4
$#'#$@<'9#@9@ G)1/':5'/6):",-1%")$:)-&")0,%,0.$%',.'.
6%$10) $:) *'.",.".) '.)-&,-) ,22) $:) -&"+) ,04
0",%)-$)#")(1-,/"$1.)@4("22)25+0&$0%$2':4
#%(#(*=#?!&( "%,-'B") *'.$%*"%.U) ^ffACVAIN>KK) !ffAIVAKKAKR
0'-5%',.'.) 2'(&"/$'*".AKKAKN>KZ) ,/*) 25+4
0&$+,-$'*)0,012$.'.IVAKQ>RX)&,B"),22)#""/
.&$;/) -$) #") +$/$(2$/,2) *'.$%*"%.) '/
+,/5) (,.".8N ) @&".") %"2,-'$/.&'0.
.166".-) -&,-) 0%$6%"..'$/) :%$+) ^ff
-&%$16&)-&")B,%'$1.).-,6".)$:)-&")Pd)*'.4
",.").0"(-%1+)'.),(($+0,/'"*)#5),/)'/4
#.63(O83/8(56(7"1"7$*1'"$'$-%:-7#";0%$G (%",.'/6) 6%,*'"/-) $:) *$+'/,/-) @4("22
(2$/,2) *"/.'-5) %".12-'/6) :%$+) +1-,-'$/.
$5,5M63,05606(3HHE,6(/3,.-/0-+(58-(
-&,-)($/:"%)'/(%",.'/6)6%$;-&),1-$/$+5
5CC+HD6(4508.K(5-E.D6G
-$) -&") /"$02,.-'() @4("22) (2$/"8RC) 9/-"%".-4 345678,!<9" %2+(,+.5D038620M(3C(H.385.(-+,[
=5,1+[M.5QE+(M5,5M63,05606(T=$$U(58-( '/625A) ,/,25.'.) $:) 0"%'0&"%,2) #2$$*) &,. 45D0D06( D3( 4KH3606( CE8130-+6( T;BU( 58-( L5,03E6
645..[M.5QE+(M5,5M63,05606(T@$$U(5,+( *"+$/.-%,-"*)-&,-)(2$/,2)@)("22.),%")$:-"/ DKM+6( 3C( H2,380H( -+,45D0D06G( %2+( M,3M3,D0386( 3C
,+H3180I+-G *"-"(-,#2") '/) 0,-'"/-.) ;'-&) ^ffY",%25 +5H2( +8D0DK( D25D( ,+M,+6+8D( H.385.( -+,45D0D06( 58-
=5,1+(58-(645..(qM.5QE+r(.+60386(5HDE5..K( PdKCAKK)$%)!ffAKKARI);&'(&),6,'/).100$%-. 4KH3606( CE8130-+6( L5,K( /0D2( +5H2( -06+56+( 58-
M,+6+8D(56(V5D(M5DH2+6(,5D2+,(D258(08P.[ -&") .5.-"+'() !G^@) /,-1%") $:) -&".") q0%'4
5,+(83D(-,5/8(D3(6H5.+G(B;(p(C3..0HE.5,(4EH083606n
D,5D+-(M.5QE+6G +,%5r .?'/)*'.$%*"%.8
=$$(p(.5,1+[M.5QE+(M5,5M63,05606n(?!@:(p(838[
=+60386(5,+(H2,380H(58-(C5L3,(838] H$+'/,/-) (2$/,2'-5) ,.) .""/) '/) -&"
0,%,0.$%',.'.)*'.",.")6%$10A):$22'(12,%)+14 6M+H0PH(H2,380H(6M38103D0H(-+,45D0D06n($&(p(M,0[
6E8[+FM36+-(6O08n(=$$(45K(J+(M30O0.3[ 45,K(+,KD2,3-+,45G
-+,45D3E6G ('/$.'.A) 0,6"-$'*) %"-'(12$.'.A) ,/*) ("%-,'/
$-&"%)*'.$%*"%.)*$".)/$-)"31,-")-$)(2'/'(,2
$5D23.31K(H38606D6(3C(6EM+,PH05.N(436D.K( +,2'6/,/(58) 9/) :,(-A) +$.-) 0,-'"/-.) ;'-& $%) B"%5) -&'/) 02,31".) -&,-) ,%") ,.5+0-$4
!:_u(%[H+..(08P.D,5D+n(-340858D(H.385.0DK( -&".")*'.",.".)"M0"%'"/("),)#"/'6/)(2'/'(,2 +,-'() $%) +'2*25) 0%1%'-'(8) @&"5) ,%") 1.14
06(43,+(H34438(08(=$$(D258(08(@$$G ($1%."A),/*)'/).$+")(,.".)-&")*'.",.")%"4 ,225);"22)+,%6'/,-"*)#1-)+,5),2.$)#2"/*
=$$(5MM+5,6(D3(+F06D(38(5(H38D08EE4(/0D2( .$2B".)($+02"-"258)9/),**'-'$/A)$-&"%)-50". '+0"%("0-'#25) '/-$) -&") .1%%$1/*'/6
M5DH2[6D51+(4KH3606(CE8130-+6(T;BU(58-( $:) (&%$/'() (1-,/"$1.) @4("22) '/D2-%,-". .?'/8) @&") .'7") '.) B,%',#2"A) #1-) -50'(,225
M,31,+66+6(D3(3L+,D(;B(5D(5(,5D+(3C( .$+"-'+".)"M&'#'-)*$+'/,/-)(2$/,2'-5A)'/4 +$.-)2".'$/.),%")2,%6"%)-&,/)N)(+A)$:-"/
5MM,3F045D+.K(`h(M+,H+8D(M+,(-+H5-+G (21*'/6) 0%'+,%5) <'*'$0,-&'(=) "%5-&%$4 +",.1%'/6) +$%") -&,/) CX) (+) '/) *',+"4
@$$(256(408045.(,06O(3C(M,31,+66038(D3(3L+,D( *"%+,),/*)/$/4.0"('D()(&%$/'().0$/6'$-'( -"%8) ^".'$/.) ,%") .-,#2") '/) .'7") ,/*) +,5
;B(08(D2+(+FM+,0+8H+(3C(436D(+FM+,D6G *"%+,-'-'.8)@&'.)&,.)6'B"/)%'.")-$)-&")($/4 '/(%",.") '/) /1+#"%) 6%,*1,2258)@&"5) ,%"
("0-)$:)(2$/,2)*"%+,-'-'.ACQAIQ)$%'6'/,225)*"4 :$1/*) +,'/25) $/) -&") q#,-&'/6) -%1/?r
%,+5D4+8D(3MD0386(08H.E-+(D3M0H5.(H3,D0H3[ ,/*) W"M1%,2) ,%",.) <d'68) IN4I=8) SM-%"+'4
.(%'#"*) '/) -&") ($/-"M-) $:) (2$/,2) /$/4.0"4
6D+,30-6n(E.D,5L03.+D(A(0,,5-05D038N(58-( -'".),/*)-&")100"%)-%1/?A) ".0"(',225)-&"
('D() (&%$/'() .0$/6'$-'() *"%+,-'-'.) #1-
M63,5.+8(58-(E.D,5L03.+D(#(0,,5-05D038n(58-( #%",.-.) '/) ;$+"/A) ,2.$) +,5) #") '/4
2,-"%) "M0,/*"*) -$) '/(21*") $-&"%) /$/25+4
D3M0H5.(HKD3D3F0H(-,E16G B$2B"*8) @&"5) ,%") 2'6&-) %"*4#%$;/) $%
0&$+,-$1.) (1-,/"$1.) @4("22) '/D2-%,-".
-&,-)&,%#$%)$((12-)+$/$(2$/,2)@4("22)0$04 .,2+$/) 0'/?A) ,/*) -&"'%) .1%:,(") '.) ($B4
12,-'$/.8) !"B"%,2) (,.".) $:) (2$/,2) *"%+,-'4 "%"*) ;'-&) .+,22) ,/*) .(,/-5) .(,2".8) ^"4
-'"/-.);'-&)^ff8C[)9/)-&'.)($/-"M-A)^ff)(,/
-'.A).$+")$:);&'(&)&,B")0%$6%".."*)-$)PdA .'$/.)+,5),00",%)D/"25);%'/?2"*Tq('64
#")%"6,%*"*),.)-&")(2'/'(,225)#"/'6/)"/*)$:
&,B") #""/) '*"/-'D"*8CQAIQAKI) _") .1.0"(- ,%"--") 0,0"%r) ;%'/?2'/68) !1(&) 2".'$/.
-&")Pd)*'.",.").0"(-%1+A);&'(&)"B"/-14
-&,-):$%)",(&)*'.",.");'-&),)0$-"/-',2):$% "M&'#'-)B,%5'/6)*"6%"".)$:)"0'*"%+,2),-4
,-".) '/) -%,/.:$%+"*) 2,%6") ("22) 25+0&$+,
0%$6%"..'$/)-$)PdA)-&")0%'/('0,2)%'.?)+,5 %$0&58) @"2,/6'"(-,.',) ,/*) +$--2"*) 0'64
,-) '-.) +,2'6/,/-) "M-%"+"8) @$) .,5) -&,-
%".'*") '/) -&") .1#."-) .&$;'/6) (2$/,2) *"%4 +"/-,-'$/) ,2.$) ,%") $#."%B"*) ;&"/) -&"
-&".")*'.",.".)#"2$/6)-$)-&").,+")*'.",."
+,-'-'.A) #"(,1.") -&'.) '.) -&") .1#."-) '/ ,-%$0&5)#"($+".)0%$+'/"/-)<d'68)IN4K=8
.0"(-%1+)'.)/$-)-$).,5)-&,-)-&"5),%")#'$4
;&'(&)*5.%"612,-'$/)&,.)#"61/)-$)$((1%8 @&'.) -%',*) $:) ,-%$0&5A) +$--2"*) 0'6+"/4
2$6'(,225) "31'B,2"/-) *'.$%*"%.8) @$) 21+0
@&") 0$.-12,-"*) %"2,-'$/.&'0.) ,+$/6 -,-'$/A) ,/*) -"2,/6'"(-,.',) *"D/".) -&"
-&"+),22)-$6"-&"%).'+025) ,.)qPdr) ;$12*
PdA)(2$/,2)*"%+,-'-'.A),/*)."2"(-"*)-50". -"%+ 58+?+*8.!,%&)$%)58+?+*8.!,%&'&4,856+;
#")-$)'6/$%")-&"'%)*'.-'/(-'B")(2'/'($0,-&$4
$:)(&%$/'()*"%+,-'-'.),%")*"0'(-"*)'/)d'68 "&)0' L&0"9*&,!A) ;&'(&) ,2.$) +,5) #") .""/
2$6'():",-1%".A);&'(&),%")2'?"25)*1")-$)6"4
IN4C8)S,(&)$:)-&")"/-'-'".).&$;/)'.)0$.4 '/)$-&"%)($/*'-'$/.)<\$M)IN4C=8
/"-'() ,/*Y$%) "0'6"/"-'() *'::"%"/(".A) .1(&
,.) -&") 5MN) 6"/") .$+,-'() +1-,-'$/.) $#4 -12,-"*) -$) #") ,-) %'.?) :$%) Pd) -&%$16&) ,
."%B"*)'/).$+")(,.".)$:)2,%6")("22)-%,/.:$%4 (2$/,2) *"%+,-'-'.) '/-"%+"*',-"8) 9/) -&'.
+,-'$/)$:)Pd8IX>II)9-)'.)2'?"25)-&,-)."B"%,2 +$*"2A) Pd) #"($+".) -&") D/,2) ($++$/
.1(&) *'::"%"/(".) ."0,%,-") -&".") (2'/'($4 0,-&;,5):$%)-&")(2$/,2)"B$21-'$/)$:)/"$4
0,-&$2$6'(,225)*"D/"*)*'.$%*"%.)'/),).-"04 02,.-'() @) ("22.) "+"%6'/6) :%$+) -&") 0$254
;'."):,.&'$/),/,2$6$1.)-$)-&")."31"/-',2 (2$/,2)!G^@)@4("22)0$012,-'$/.)0%"."/-)'/
,(31'.'-'$/)$:).$+,-'()+1-,-'$/.)-&,-)$(4 ",(&)$:)-&")B,%'$1.)0%"(1%.$%)*'.",.".8
(1%.)'/)-&")($2$/)(,/("%)*'.",.").0"(-%1+
,.) ($2$/'() "0'-&"2',2) ("22.) 0%$6%".. !.080H5.(B08-0816
-&%$16&)/$%+,2A)&50"%02,.-'(A)'/).'-1)(,%4 345678,!<9! =5,1+[M.5QE+(M5,5M63,05606G(9,[
('/$+,A) '/B,.'B") (,%('/$+,A) ,/*) +"-,4 >6C?B8D6$,@8$4DB$ ^ff) 2".'$/.) ,%") "'4 ,+1E.5,.K(625M+-(M5DH2+6(3C(L5,05J.+(60I+(38(D2+
.-,-'()(,%('/$+,).-,6".8IKAIR -&"%) $B,2) $%) '%%"612,%25) .&,0"*) 0,-(&". 5,4(3C(5(`c[K+5,[3.-(10,.G
!:E
345678,!<9= @45..[M.5QE+(M5,5M63,05606G(:010[
D5D+(-+,45D3606(L5,058DG(%KM0H5.(qP81+,M,08Dr(M5DH2+6
38(D2+(V58OG(?3D+(D25D(D2+0,(.+81D2(3CD+8(+FH++-6
X(H4G
#*+&'.()
2#..*+*$)#&"'2#&4$-,#,'-.'(-#Y#"-?*+3&
=5,1+[M.5QE+(M5,5M63,05606
:+,45D34K360D06 345678,!<9E =5,1+[M.5QE+( M5,5M63,05606G
=EME6(+,KD2+45D36E6 ;0.-.K( 2KM+,O+,5D3D0H( 58-( C3H5..K( M5,5O+,5D3D0H
!2,380H(,5-05D038(-+,45D0D06 +M0-+,406( /0D2( 43-+,5D+.K( -+86+( 6EM+,PH05.
A.334(6K8-,34+ M+,0L56HE.5,(08P.D,5D+G(=K4M230-(H+..6(5,+(436D.K
'3D24E8-[%234638(6K8-,34+
645..N( HKD3.310H5..K( 83,45.( .K4M23HKD+6N( 58-
:K6O+,5D3606(H381+80D5
345678,!<9< @45..[M.5QE+( M5,5M63,05606G D2+,+(06(C3H5.(6081.+[H+..(+M0-+,43D,3M064G(TR6+-
g+,3-+,45(M014+8D36E4
@45..N(-06H,+D+(M5DH2+6(.+66(D258(X(H4(08(-054+D+,G /0D2(M+,4066038(C,34("+.4ED(e+,.N(;G:GU
!:O
!"#$%&'.('
<"4-+#)13'.-+')1*'2#&4$-,#,'-.'(&)%16/)&4*'F@%-,#,'K>$4-#?*,'PK->+'(-#$),'<+*'E*=>#+*?W
(<E<FCGCE Z'(D5JG/ R'(D5JG
!.080H5.^ #8K(D/3 #8K(38+
$+,606D+8DN(M,31,+660L+(M5DH2+6(58-(M.5QE+6(v
?38]6E8[+FM36+-(-06D,0JED038
Z5,05D038(08(60I+(58-(625M+
$30O0.3-+,45
"06D3M5D23.310H^ A3D2 &0D2+,
345678,!<9O =5,1+[M.5QE+( M5,5M63,05606G @EM+,PH05.(-+,45.(%[H+..(08P.D,5D+(v(
#D,3M20H(L5,058DG(@M5,6+(6EM+,PH05.(.K4M230-(08[ &M0-+,43D,3M064
P.D,5D+(/0D2(40.-(+M0-+,43D,3M064(58-(+M0-+,45. ?EH.+5,(5DKM05
5D,3M2KG 944E83M5D23.310H^ ?3D(5MM.0H5J.+ #8K(38+
!:)N(!:dN(3,(!:X(w(Xhm
2"..) *'.(%"-") ,/*) $:-"/) 0$'?'2$*"%+,4 !:f(w(`hm
-$1.8) ^ff) +,5) #") (2'/'(,225) ,/*) &'.-$4 &M0-+,45.[-+,45.(-06H3,-58H+
0,-&$2$6'(,225) '/*'.-'/61'.&,#2") :%$+ ;3.+HE.5,(J03.310H^ ?3D(5MM.0H5J.+ $,+6+8D
-&")0,-(&).-,6")$:)Pd8)\$-&)^ff),/*)!ff :340858D(%[H+..(H.385.0DK
,%")%",*'25)*'.-'/61'.&"*):%$+)+$%"),*4
B,/("*)'/D2-%,-"*)02,31".)$:)Pd)#"(,1." ?3D+^(&M0-+,43D,3M064(04M.0+6(D2+(.5HO(3C(60180PH58D(6M38103606(T08D,5+M0-+,45.(.K4M230-(H+..6(5663H05D+-(
0,%,0.$%',.'.) 2".'$/.) ,%"A) #5) *"D/'-'$/A /0D2(6M38103606(06(D+,4+-(%,*/64*$'$(,5D2+,(D258(%7'+%1)*41*7'$)UG(:06H3,-58H+(,+C+,6(D3(-0CC+,+8D05.(58D0[
1+8(+FM,+66038(J+D/++8(D2+(+M0-+,406(58-(-+,406N(56(3MM36+-(D3(D2+(J03M6K(6M+H04+8(56(5(/23.+G
/$-)-&'(?"%)-&,/)0,-(&".)$%),-)+$.-)B"%5 B,34($04M08+..0(?(+D(5.^(:+P8081(+5,.K(4KH3606(CE8130-+6G(2-3)-3/"+-(%1)"4*# <:^`hXdN()hhXN(/0D2(
-&'/)02,31".8)@&'.)'.).$)#"(,1.")-&")S/4 M+,4066038G
62'.&) "31'B,2"/-) $:) -&") d%"/(&) -"%+
5*&P9!0)'.)5&4"6!0A)-&,-)'.A)2".'$/.)-&,-),%"
".."/-',225)W,-),/*)*"B$'*)$:)'/*1%,-'$/ -1%".8NX)G..1+'/6)-&,-)&'.-$0,-&$2$6'()"M4 ,#."/(") $:) -&") G1.0'-7) .'6/) <."") J&,08
,+'/,-'$/)*$".)/$-)*'.(2$."):",-1%".)*',64 CQ=A +'(,("$1.) .(,2"A) /,'2) 0'-.A),/*)-50'4
$%) 0,20,#2") '/D2-%,-'$/8RQ) d,'21%") -$) ,04
/$.-'() $:) .$+") $-&"%) *"%+,-$.'.A) -&"." (,2) 0.$%',-'() 2".'$/.) '/B$2B'/6) -&") .(,20A
0%"(',-") -&'.) '+0$%-,/-) *'.-'/(-'$/) &,.
(%'-"%',),22$;)2".'$/.)-$)#")(2,..'D"*),.)"'4 "2#$;.A) ,/*) ?/"".8) E'.-$2$6'(,225A) '-.
2"*) -$) ($/.'*"%,#2") ($/:1.'$/) ,/*) +'.4
-&"%)0,-(&4.-,6")Pd)$%)/$-8)d$%)-&")0%,(-'4 +'2*) .0$/6'$-'() *"%+,-'-'.) ,/*) ,#."/("
1.") $:) -&") -"%+.) *&,>!;5*&P9!) ,/*) 0%&**;
(,2) 01%0$.".) $:) (2'/'(,2) +,/,6"+"/-A) 0,4 $:) $-&"%) (&,%,(-"%'.-'() :",-1%".) *'.-'/4
5*&P9!'5&,&508,+&0+0)#5).$+")'/*'B'*1,2.8
-'"/-.) 0%"."/-'/6) (2'/'(,225) ;'-&) 0,-(& 61'.&)'-):%$+)f^JA)0.$%',.'.A),/*)."B"%,2
@&".") *".'6/,-'$/.) +$%") ,00%$0%',-"25
2".'$/.);&$."):",-1%".)%".12-)'/),).($%")$: $:) -&") $-&"%) "/-'-'".) 2'.-"*) '/) \$M) IN4I8
+'6&-) #") -&$16&-) $:) ,.) *&,>!;5&4"6) ,/*
R) 0$'/-.) $%) +$%") ,%") ($/.'*"%"*) -$) &,B" J2'/'(,2):",-1%".),%"),2.$)'+0$%-,/-A).1(&
0%&**;5&4"6'5&,&508,+&0+08
1/"31'B$(,2)Pd8)]#B'$1.25A)-&")+$%")2'#4 ,.)-&")&"%,2*)0,-(&)$:)0'-5%',.'.)%$.",),/*
@&") *"6%"") -$) ;&'(&) ^ff) '.) *'::"%"/-'4
"%,2) -&") (%'-"%',A) -&") +$%") (,.".) ($12*) #" -&") 0,012$B".'(12,%) ($'/4.&,0"*) 0,-(&".
,-"*):%$+)",%25)Pd)*"0"/*.)0%'+,%'25)$/
($/.'*"%"*)-$)#")Pd8)E$;"B"%A)-&"%");'22 :,B$%'/6) -&") 2$;"%) "M-%"+'-'".) '/) /1+4
-&") &'.-$0,-&$2$6'() (%'-"%',) 1."*) -$) *',64
,2;,5.)#").$+")(,.".)-&,-):,'2)-$)+""-),/5 +12,%)*"%+,-'-'.8
/$.") -&") 2,--"%) *'.$%*"%8) O/:$%-1/,-"25A
.0"('D()."-)$:)(%'-"%',A),/*)-&")*".'6/,-'$/ !$+"-'+".)0,-'"/-.);'-&)Pd)+,5)"M4
-&"%"),%")/$)1/'B"%.,225),(("0-"*)+'/'+,2
Q::)'.),)1.":12)-"%+)-$),0025)-$)-&"+)#"4 &'#'-).+,22)0,-(&".)$:)*'.",."),-)0%"."/-,4
(%'-"%',):$%)-&")*',6/$.'.)$:)Pda)&$;"B"%A
(,1.") '-) 61'*".) -%",-+"/-) ,/*) :$22$;410 -'$/a) &$;"B"%A) -&".") 2".'$/.) -50'(,225
$/")."-)0%$0$."*)#5)-&")9/-"%/,-'$/,2)!$4
,/*) ($/B"5.) ,/) 1/*"%.-,/*'/6) -&,-) -&" &,B") &'.-$0,-&$2$6'() :",-1%".) ,-) 2",.-
('"-5) :$%) J1-,/"$1.) ^5+0&$+,) '.) 0%"4
%'.?)$:)*5'/6):%$+)25+0&$+,)'.).+,228 ($/.'.-"/-);'-&)Pd),/*)6"/"%,225),%"),.4
."/-"*) '/) @,#2") IN4I8R[) @&'.) ,26$%'-&+) '.
@&")(2'/'(,2),/*Y$%)&'.-$0,-&$2$6'()*':4 .$(',-"*);'-&)2,%6"%A)+$%")(2,..'()2".'$/.
#,."*)$/) ,)&$2'.-'()'/-"6%,-'$/)$:) (2'/'(,2A
:"%"/-',2) *',6/$.'.) $:) ^ff) ,2.$) '/(21*". $:)Pd)"2.";&"%")$/)-&").?'/8)@&"5),2.$
&'.-$0,-&$2$6'(A) '++1/$0,-&$2$6'(A) ,/*
-&$.")($22,6"/)B,.(12,%)*'.",.".),/*)6"/$4 +,5).&$;)0$'?'2$*"%+,-$1.):",-1%".)/$-
(2$/,2'-5)*,-,8)9-)*'::"%.).'6/'D(,/-25):%$+
*"%+,-$.".) "M&'#'-'/6) 0$'?'2$*"%+,-$1. .""/)'/)!ff8)d1%-&"%+$%"A)-&")0%"."/(")$:
+,/5) 0%'$%) ,00%$,(&".) #"(,1.") '-) *$".
:",-1%".A) 2'(&"/$'*) *%16) "%10-'$/.A) ."(4 ;"224*"B"2$0"*A)+$*"%,-")-$)-&'(?).+,22
/$-) %"25) .$2"25) $/) &'.-$0,-&$2$6'() :",4
$/*,%5).50&'2'.A)(&%$/'()%,*'$*"%+,-'-'.A 02,31".A),.).""/)'/).$+")Pd)0,-'"/-.A)'.
,/*) $((,.'$/,225) ."B"%,2) $-&"%) *'.",.". '/($+0,-'#2") ;'-&) -&") *',6/$.'.) $:) !ff
-,#12,-"*) '/) \$M) IN4I8) @&".") 6"/"%,225 #"(,1.")-&")2,--"%)*'.$%*"%)'/(21*".)$/25
(,/) #") *'.-'/61'.&"*) #5) -&"'%) ,..$(',-"* 2".'$/.)-&,-),%")/$)+$%")-&,/)0,-(&".)$%
(2'/'(,2) D/*'/6.8) E'.-$0,-&$2$6'() *'::"%4 B"%5)-&'/)02,31".8)9-)'.),2.$)'+0$%-,/-)-$
"/-',-'$/) ,+$/6) -&".") *'.",.".) '.) ($B4 %"($6/'7") -&,-) 0,%-',225) -%",-"*) $%) ",%25
"%"*)2,%6"25)'/)-&")*'.(1..'$/)$:)0."1*$4 %"2,0.'/6) 2".'$/.) $:) Pd) +,5) .&$;) $/25
Pd)'/)J&,08)CRZ8 /$/4.0"('D() :",-1%".) -&,-) .&$12*) /$-) #"
!ffA);&"/)'-)0%"."/-.);'-&)'-.)*'.-'/(-'B" -,?"/),.)"B'*"/(")$:),)0,-&$6"/"-'()2'/?
*'6'-,-") *"%+,-$.'.) 2".'$/.) 0,%,22"2) -$ -$)!ff)$%),/5)$-&"%)*"%+,-$.'.8
.?'/)2'/".)'/),)-%1/(,2)*'.-%'#1-'$/A).-,/*.
$1-):%$+)$-&"%)-50".)$:)0,%,0.$%',.'.8)9/4
345678,!<9# @45..[M.5QE+( M5,5M63,05606G !34M.0H5D0386
*'B'*1,2)!ff)2".'$/.)+,5).&$;).$+").14
@EM+,PH05.( M+,0L56HE.5,( .K4M230-( 08P.D,5D+N( 40.- 0"%D(',2)%"."+#2,/(")-$)f^J8)!ff)'.)*'.4 ^ff)(,/)#"),..$(',-"*);'-&)$-&"%):$%+.
6M38103606N(M5,5O+,5D3606N(58-(C3H5.(6H5.+(H,E6DG -'/61'.&"*) :%$+) 0.$%',.'.) #5) -&" $:) 0,%,0.$%',.'.) ,/*) $B"%-) (1-,/"$1.
!:#
#*+&'.(' #*+&'.(, #"M,%$-"/")6"2A)-$0'(,2)'+'31'+$*A)$%)-$04
'(,2) (,%+1.-'/") <\JLO=8NZ) S2"(-%$/4#",+
2#..*+*$)#&"'2#&4$-,#,'-.'B&+4*6("&=>*' G+*&)3*$)'-.'B&+4*6("&=>*'(&+&7,-+#&,#,'
%,*',-'$/)-&"%,05)6"/"%,225)'.)%"."%B"*):$%
(&+&7,-+#&,#,'PB((W'&$?'/3&""6("&=>*' &$?'/3&""6("&=>*'(&+&7,-+#&,#,
+$%"),*B,/("*A)'/D2-%,-"*)2".'$/.)$:)Pd8
(&+&7,-+#&,#,'P/((W
347$C,@4B8
!"#$%&'()*+ &43..0+8D6
=$$ $,+L+8D038
%3M0H5.(H3,D0H36D+,30-6
S(%08+5(H3,M3,06 %3M0H5.(D5,(M,3-EHD6 \"(,1.") ^ff) ,/*) !ff) ,%") 1/($++$/
S($.5QE+[DKM+(M63,05606 @E8J5D2081 *'.",.".) -&,-) ,00",%) -$) ,::"(-) 0,-'"/-.
S(!38D5HD(-+,45D0D06 A,35-J58-(E.D,5L03.+D(A(M23D3D2+,5MK %,/*$+25A) -&"%") ,%") /$) ?/$;/) 0%"B"/4
S(@EJ5HED+(HED58+3E6(.EME6(+,KD2+45D36E6 ?5,,3/J58-(E.D,5L03.+D(A(M23D3D2+,5MK -'B")+",.1%".8
@$$
S(?E44E.5,(-+,45D0D06 $8>DB-,@4B8
S($0DK,05606(,36+5 T;508.K(C3,(.5,1+[M.5QE+(M5,5M63,05606(H56+6( $9%>'9#@9@(=9!"&?<9:&@
S($.5QE+(58-(1EDD5D+(M63,05606 H3860-+,+-(D3(J+(+5,.K(4KH3606(CE8130-+6U
%3M0H5.(J+F5,3D+8+ &M0-+403.31K
S($014+8D+-(ME,ME,0H(-+,45D36+6
S($0DK,05606(.0H2+830-+6(H2,380H5 %3M0H5.(040QE043- f'-5%',.'.) 2'(&"/$'*".) ,::"(-.) ,22) %,(',2
$63,5.+8(58-(E.D,5L03.+D(#(M23D3D2+,5MK ,/*) "-&/'() 6%$10.) '/) ,22) 6"$6%,0&'() %"4
,"-#'.)/ %3M0H5.(4+H2.3,+D25408+ 6'$/.8) 9-) '.) +$%") ($++$/) '/) (&'2*%"/
=$$ %3M0H5.(H5,4E6D08+(TA!?RU ,/*)5$1/6),*12-.)#1-)(,/),::"(-),22),6".8
S(g+,3D0H(-+,45D0D06 @&"%")'.),)+,2")0%"*$+'/,(")$:)C8NUC)-$
S(#D3M0H(-+,45D0D06 KUC8NQAN[) f^J) '.) -&%"") -$) .'M) -'+".) +$%"
$%*"%)'/)-&")"M0"%'"/(")$:)+$.-)"M0"%-.8
S(:+,45D34K360D06 ($++$/)-&,/)f^SFG8
f,-'"/-.) ;'-&) -&'.) *'.",.") ,.) *"D/"*) '/
S(:,E1(+,EMD038 -&'.)(&,0-"%)%,%"25A)':)"B"%A)*"B"2$0)$B"%-
S(&,KD2+45(-K6H2,340HE4(M+,6D586 Pd8CNARKANI) H".0'-") -&'.) :,(-) ,/*) ;&,-
S($014+8D+-(ME,ME,0H(-+,45D36+6 &D03.31K(58-($5D231+8+606
+$.-) $#."%B"%.) ($/.'*"%) -$) #") '-.) /$/4
S(&5,.K(08V5445D3,K(43,M2+5 .0"('D() &'.-$0,-&$2$6'() :",-1%".A) .$+" @&") "-'$2$65) $:) 0'-5%',.'.) 2'(&"/$'*".) '.
S(#D,3M23-+,45(3C($56080[$0+,080 ,1-&$%.) :,B$%) 21+0'/6) !ff) ;'-&'/) -&" 1/?/$;/8)!$+")(,.".)&,B")#""/),..$('4
S(&,KD2+45(588E.5,+(H+8D,0CE1E4 Pd) *'.",.") .0"(-%1+) ,.) ,) B"%5) ",%25A ,-"*);'-&)'/:"(-'$1.),6"/-.).1(&),.)H8A8;
S($0DK,05606(,EJ,5(M0.5,06 /$/0%$6%"..'B")B,%',/-8NK)@&'.)'..1")&,. 5*&0%&' >8).++AVXAVC) S0.-"'/4\,%%) B'%1.AVIAVK
S(*+83-+,45D36+6(/0D2(M30O0.3-+,45 #""/)*"#,-"*),-)2"/6-&8KVANRANN (5-$+"6,2$B'%1.AVI)0,%B$B'%1.)\C[AVIAVRAVN
S(!2,380H(,5-03-+,45D0D06 ,/*)&1+,/)'++1/$*"D('"/(5)B'%1.8VVAVZ
@$$ G-) 2",.-) $/") (,.") ;,.) 2'/?"*) %"0",-"*25
S(%08+5(L+,60H3.3,
%,+5D4+8D
;'-&) ".-%$6"/40%$6".-"%$/") -&"%,05) ,/*
S(@+J3,,2+0H(-+,45D0D06 f,-'"/-.) ;'-&) !ff) .&$12*) #") %",..1%"* ,/$-&"%);'-&)(&"+$-&"%,05)*%16.8VQ)9-)'.
S(:,E1(+,EMD038 ,/*) +,5):$%"6$)-%",-+"/-8) @&")*'.",." 1/("%-,'/) ;&"-&"%) -&".") ,6"/-.) ,%") ,(4
+,5)#")-%",-"*);'-&)"+$22'"/-.A)-$0'(,2 -'B"25) '/B$2B"*) '/) *'.",.") 0,-&$6"/".'.
3*45+#%01*)%21$
-,%)0%"0,%,-'$/.A)-$0'(,2)($%-'($.-"%$'*.A $%)+"%"25)($'/('*"/-,2)#5.-,/*"%.a)&$;4
=$$
,/*Y$%)#%$,*#,/*)$%)/,%%$;#,/*)12-%,4 "B"%A)."B"%,2)(,.".),..$(',-"*);'-&)-$M$4
S(;KH3606(CE8130-+6
B'$2"-)\)<OF\=)0&$-$-&"%,05)<\$M)IN4K=8NV 02,.+$.'.) &,B") (2",%"*) :,'%25) 31'(?25) '/
@$$
c".0$/.")-$)-&"%,05)'.)B,%',#2"8)f,-'"/-. %".0$/.")-$).0"('D()-&"%,058VC
S(;KH3606(CE8130-+6
.&$12*)'/'-',225)#")"M,+'/"*)"B"%5)K) -$ 9++1/$&'.-$2$6'().-1*'".)&,B").&$;/
S(@+H38-5,K(6KM20.06
V) +$/-&.) ,/*) .1#."31"/-25) "B"%5) 5",% ,) %"*1(-'$/) '/) JHC,o) ,/-'6"/>0%"."/-4
-$)"/.1%") -&,-)-&") (&,%,(-"%)$:) -&") 0%$4 '/6) *"/*%'-'() <^,/6"%&,/.=) ("22.) ;'-&'/
25+0&$+,.) ,.) *"-,'2"*) "2.";&"%") '/ ("..)'.).-,#2"8 -&") ("/-%,2) "0'*"%+'.) $:) 0'-5%',.'.) 2'4
-&'.)(&,0-"%8)\$-&)^ff),/*)!ff)$((,.'$/4 ^ff) %"31'%".) +$%") ,66%"..'B") -&"%,05U (&"/$'*".) 2".'$/.8V[) l"%,-'/$(5-".) ,/*
,225) (,/) *"B"2$0) ,%",.) $:) '+0"-'6'/'7,4 &'6&40$-"/(5) -$0'(,2) ($%-'($.-"%$'*.) ;'-& "/*$-&"2',2) ("22.) ,%") E^G4HcoA) ;&'(&
-'$/)."($/*,%5)-$)"M($%',-'$/8 0&$-$-&"%,05) .1(&) ,.) #%$,*#,/*) OF\A .166".-.) ,(-'B,-'$/) #5) @4("22) (5-$4
/,%%$;#,/*)OF\A)$%)0.$%,2"/),/*)12-%,B'4 ?'/".8V[) JHQo) @) ("22.) 0%"*$+'/,-") '/
$,3183606(58-(!.080H5.(!3E,6+ $2"-)G)<fOFG=8)@&")6$,2)$:)-%",-+"/-)'.)-$ f^SFGA);&"%",.)"'-&"%)JHQo)$%)JHRo)@
.100%"..)-&")*'.$%*"%) -$)0%"B"/-)0$..'#2" ("22.) 0%"*$+'/,-") '/) f^J8V[>ZC) P,/5) $:
\$-&)^ff),/*)!ff)+,5)0"%.'.-):$%)5",%. 0%$6%"..'$/) -$) $B"%-) Pd8) ]-&"%) +"-&$*. -&".") @) ("22.) "M0%"..) +"+$%5) 0%$-"'/.
-$)*"(,*".);'-&)2'--2")(&,/6")'/),00",%4 $:) -%",-+"/-A) .1(&) ,.) -$0'(,2) /'-%$6"/ <JHRNc]=),/*)(5-$25-'()0%$-"'/.)<@9G4C
,/(") (2'/'(,225) $%) &'.-$0,-&$2$6'(,2258 +1.-,%*A)&,B")#""/)1."*A)0,%-'(12,%25):$% ,/*) 6%,/75+") \=8VRAZI) H$+'/,/-) @4("22
G00%$M'+,-"25)CX)-$)KX)0"%("/-)$:)(,.". -&") 0$'?'2$*"%+,-$1.) -50"8) @&") 0,-'"/- (2$/,2'-5) &,.) #""/) *"+$/.-%,-"*) '/
$:) ^ff) 0%$6%"..) -$) $B"%-) Pd8CANC) 9/) -&'. .&$12*) #") "M,+'/"*) (,%":1225) "B"%5) K ,#$1-)&,2:)$:)f^SFG)(,.".),/*),)+'/$%4
($/-"M-A)^ff)%"0%"."/-.)-&")(2'/'(,225)#"4 +$/-&.)'/'-',225),/*)"B"%5)V)+$/-&.)-$)C '-5) $:) f^J) (,.".8KN>KZAZK) 9/) ,66%"6,-"A
/'6/) "/*) $:) -&") Pd) *'.",.") .0"(-%1+A 5",%) .1#."31"/-25) :$%) "B'*"/(") $:) 0%$4 -&".") D/*'/6.) %,'.") -&") 0$..'#'2'-5) -&,-
;'-&) -%,/.:$%+,-'$/) -$) 2,%6") ("22) 25+4 6%"..'$/8) c"0",-"*) +12-'02") #'$0.'".) $: 0'-5%',.'.)2'(&"/$'*".)'.),)B,%',#25)(2$/,2
0&$+,) ,-) -&") $00$.'-") "M-%"+"8) @&" .1.0'('$1.) 2".'$/.) .&$12*) #") 0"%:$%+"*8 (5-$25-'() +"+$%5) @4("22) 25+0&$0%$2':4
%,%") %"-':$%+) B,%',/-) '.) .,'*) -$) 0%$6%".. J,.".) -&,-) .,-'.:5) -&") (2'/'($0,-&$2$6'( "%,-'B")%".0$/.")-$)$/")$%)+$%"):$%"'6/
-$)$B"%-)Pd)'/)B'%-1,225),22)(,.".8C (%'-"%',) :$%) ",%25) Pd) (,/) #") -%",-"*) ;'-& ,/-'6"/.8) H"0$.'-'$/) $:) '++1/$62$#14
9/) ($/-%,.-) -$) ^ff) ;'-&) '-.) +,2'6/,/- #%$,*#,/*) OF\A) /,%%$;#,/*) OF\A 2'/) PA) JKA) ,/*) D#%'/) '/) ,/*) ,%$1/*
0$-"/-',2A) !ff) '.) ,) (2'/'(,225) #"/'6/) *'.4 fOFGA) -$0'(,2) /'-%$6"/) +1.-,%*A) -$0'(,2 #2$$*) B".."2.) ,/*) ,2$/6) -&") *"%+$"0'4
!;2
0&$+,-$'*) 0,012$.'.) <,-) 2",.-) -50".) G ."/-.),.)%"(1%%"/-)(%$0.)$:)"%5-&"+,-$1.
$9%>'9#@9@ ,/*) J=8ZR) d1%-&"%+$%"A) -&".") ("22.) ,%" .(,25)0,012".)-&,-).0$/-,/"$1.25)%"6%"..
-50'(,225) JHRo) ,/*) $:-"/) 2,(?) $/") $% $B"%)."B"%,2);""?.)-$)+$/-&.)<d'68)IN4CX=8
=9!"&?<9:&@ +$%") +,-1%") @4("22) ,/-'6"/.) .1(&) ,.
JHIA) JHKA) ,/*) JHN8) @&".") :",-1%".
f^SFG) +,/':".-.) ,.) %"(1%%"/-) (%$0.) $:
"%5-&"+,-$1.) 0,012".) -&,-) *"B"2$0
#%(#(*=#?!&( ."%B")-$)*'.-'/61'.&)25+0&$+,-$'*)0,04
12$.'.) :%$+) 0'-5%',.'.) 2'(&"/$'*".8) G24
(%1.-.A)B".'(2".A)01.-12".A)$%)"%$.'$/.)#"4
:$%") .0$/-,/"$1.25) %"6%"..'/6) ;'-&'/) ,
-&$16&) $((,.'$/,2) JHKXo) ("22.) (,/) #" +,--"%)$:);""?.)<d'68)IN4CC=8)@&")+$%"
.""/) '/) ,) ;'*") B,%'"-5) $:) *"%+,-$.".A ."B"%")12("%,-'B")B,%',/-)'.)?/$;/),.)5+4;
-&")0%"."/(")$:),/5),00%"(',#2")/1+#"% 7,+&0+0' *+"6!)8+.!0' R+46' 9*"!,8)!",80+0' &).
.&$12*) :,B$%) 25+0&$+,-$'*) 0,012$.'. 675!,46!,%+&' S:QTUV) $%) =!/,+*!' 9*"!,8)!;
$B"%)0'-5%',.'.)2'(&"/$'*".),.),)+,--"%)$: ",84+"' <9"6&;U&/!,%&))' .+0!&0!8) 9-) 0%"4
*"D/'-'$/8) 9-) +,5) #") -&,-) -&") qf^J4 ."/-.) ,.) 01%01%'() 0,012$/$*12".) ;'-&
f^SFGr),/*)q25+0&$+,-$'*)0,012$.'.> ("/-%,2)12("%.)10)-$),):";)("/-'+"-"%.)'/
$0DK,05606(.0H2+830-+6(+D(L5,03.0C3,406(
JHKXo) ,/,02,.-'() 2,%6") ("22) 25+0&$+,r *',+"-"%) <d'68) IN4CI=8) !$+") &,B") 0%$4
5HED5(T$=&Z#U(58-(M0DK,05606(.0H2+830-+6(
*'.",.") .0"(-%,) ,%") '/-"%."(-'/6) %,-&"% 0$."*)-&,-)-&'.)."B"%")B,%',/-)'.),(-1,225
H2,380H5(T$=!U(,+M,+6+8D(D/3(+8-6(3C(5(
-&,/) $B"%2,00'/6) "/-'-'".a) -&,-) '.A) ,24 ,/)$B"%-)@4("22)25+0&$+,8ZN)f'-5%',.'.)2'4
-06+56+(6M+HD,E4n(J3D2(+8D0D0+6(58-(08D+,[
-&$16&) 0'-5%',.'.) 2'(&"/$'*".) '.) ,) *'.4 (&"/$'*".) 2".'$/.) -"/*) -$) ($/("/-%,-"
4+-05D+(C3,46(H58(H3+F06DG
-'/(-)(1-,/"$1.)@4("22)*'.$%*"%A)'-)'.)0$.4 $/) -&") -%1/?) ,/*) 0%$M'+,2) "M-%"+'-'".A
#..(C3,46(5,+(H25,5HD+,0I+-(JK(6M38D58+[ .'#2") -&,-) '-) +,5) .$+"-'+".) ."%B") ,.
3E6.K(,+63.L081N(D+4M3,5..K(3L+,.5MM081( :"%-'2") .$'2) :$%) -&") *"B"2$0+"/-) $:) -&"
H,3M6(3C(M5ME.+6G JHKXo) @4("22) (2$/") (&,%,(-"%'.-'() $:
$=&Z#(M5ME.+6(.56D(C3,(/++O6(58-(45K( 25+0&$+,-$'*)0,012$.'.8
-+L+.3M(H,E6D6N(L+60H.+6N(ME6DE.+6N(3,(E.H+,6G
$=!(M5ME.+6(M+,606D(C3,(438D26(58-( !.080H5.(B08-0816
-+L+.3M(6H5.+6G
#..(C3,46(H38D508(08D+,C5H+N(HKD3.KD0H(%[H+..( >6C?B8D6$,@8$4DB$ f^J),/*)f^SFG)"M4
08P.D,5D+6(/0D2(L5,05J.+(+M0-+,45.( '.-)$/),)(2'/'($0,-&$2$6'()($/-'/11+8CANX
-+6D,EHD038G @&"%":$%"A) '/*'B'*1,2) 0,-'"/-.) +,5) "M4
&'#'-),)+'M-1%")$:),(1-"),/*)(&%$/'()2"4
98($=&Z#N(!:bu(H+..6(M,+-34085D+G ?
.'$/.) ."31"/-',225) $%) ($/(1%%"/-258) 9/
98($=!N(!:bu(3,(!:_u(H+..6(M,+-34085D+G ,**'-'$/A)2".'$/.)%"0%"."/-'/6)(2'/'(,2)$%
:340858D(%[H+..(H.385.0DK(H58(J+(-+D+HD+-( &'.-$0,-&$2$6'()'/-"%6%,*".)#"-;""/)-&"
08(5..(C3,46N(43,+(3CD+8(08($=&Z#(D258(08( "M-%"+".)+,5),2.$)$((1%),-),/5)-'+"8
$=!G ^".'$/.) ,%") $:-"/) ,.5+0-$+,-'() #1-
%,+5D4+8D(-+M+8-6(38(6+L+,0DK(58-( (,/) #") 0%1%'-'()$%) #1%/'/6A)".0"(',225) '/
,581+6(C,34(D3M0H5.(6D+,30-6N(6K6D+40H( -&")+$%"),(1-")(,.".8)f^J)-50'(,225)0%"4
58D0J03D0H6N(E.D,5L03.+D(0,,5-05D038N(58-(
M63,5.+8(58-(E.D,5L03.+D(#(D3(6K6D+40H(
044E836EMM,+6658D6G
:0CC+,+8D05.(:05183606
@&") *'::"%"/-',2) *',6/$.'.) $:) 0'-5%',.'.
? 2'(&"/$'*".) '/(21*".) +,/5) 0,012,%
"%10-'$/.) <\$M) IN4R=8) @&$.") -&,-) *"4
B"2$0)(%1.-.A)B".'(2".A)01.-12".A)$%)12("%.
,%") 6%$10"*) ;'-&) f^SFGA) ;&"%",.
-&$.") -&,-) :$%+) 0%"*$+'/,/-25) .(,25
0,012".),%")6%$10"*);'-&)f^J8)P$.-)$:
345678,!<9"! $0DK,05606(.0H2+830-+6N(E.H+,3[
-&"+)(,/)#")"M(21*"*)#,."*)$/)&'.-$%5
8+H,3D0HN( 2KM+,5HED+( L5,058DG( =5,1+( 8+H,3D0H( +6[
,/*) -50'(,2) (2'/'($0,-&$2$6'() :",-1%".8
H25,(/0D2(25.3(+,KD2+45(-+L+.3M081(08(C+J,0.+(M5[ G) :";A) .1(&) ,.) ."($/*,%5) .50&'2'.) ,/*
D0+8D( /0D2( 58D+H+-+8D( M0DK,05606( .0H2+830-+6( +D B'%,24,..$(',-"*) 2".'$/.A),2.$) (,/)#")"M4
L5,03.0C3,406(5HED5G (21*"*)#,."*)$/)."%$2$6'()-".-.8)G+$/6
-&")+$.-)(&,22"/6'/6)*'.",.".)-$)*'.-'/4
#1-),/5)%"6'$/)$:)-&").?'/),/*)"B"/)+14 G 61'.&) :%$+) 0'-5%',.'.) 2'(&"/$'*".) ,%"
($1.) +"+#%,/".) (,/) #") '/B$2B"*8) c,%" 25+0&$+,-$'*) 0,012$.'.) ,/*) +,(12,%
345678,!<9": $0DK,05606( .0H2+830-+6( +D( L5,0[
%"6'$/,2) $%) ."6+"/-,2) 2".'$/) *'.-%'#14 $%)0,012,%)B,%',/-.)$:)Pd8ZQ)G.)*"-,'2"*
3.0C3,406(5HED5G(?F(R.H+,5D+-(M5ME.+(/0D2(+M0-+,[
-'$/.)&,B")#""/)*".(%'#"*8ZVAZZ)G2-&$16& ",%2'"%A) -&") 0%"."/(") $:) 2,%6") ,-50'(,2
-&"%") ,%") 1.1,225) /1+"%$1.) ($4"M'.-"/- 45.( 8+H,3606N( 2+43,,251+N( 58-( 6EM+,PH05.( 58-
25+0&$'*) ("22.) <$:-"/) JHKXo=) *'::"%"/4
2".'$/.A) $((,.'$/,225) $/25) ,) .+,22) /1+4 -++M( M+,0L56HE.5,( .K4M23HKD0H( 08P.D,5D+G( "+45[
-',-".) 25+0&$+,-$'*) 0,012$.'.) :%$+
#"%)$:)2".'$/.);'22)#")0%"."/-),-),/5)$/" D3FK.08( 58-( +3608( T"x&U( 6D508G( GF( $5,5O+,5D3606 0'-5%',.'.)2'(&"/$'*".8ZR)P,(12,%)$%)0,04
-'+"8)G22):$%+.)$:)0'-5%',.'.)2'(&"/$'*". 58-(H,E6D(/0D2(45,O+-(6M38103606(58-(+M0-+,45. 12,%) B,%',/-.) $:) Pd) ,%") %,%"8) @&"5) "M4
(,/) %".12-) '/) 0$.-4'/W,++,-$%5) &50$4 8+H,3606G( =K4M23HKD+( +F3HKD3606( 58-( J565.( 2K[ &'#'-) (2,..'() :",-1%".) $:) PdA) '/(21*'/6
0'6+"/-,-'$/) $%) &50"%0'6+"/-,-'$/8 -,3M0H(H2581+6G("x&(6D508G .+,22) ,-50'(,2) "0'*"%+$-%$0'() 25+4
J&%$/'() 2".'$/.) (,/) %".$2B") ;'-&) 0$.-4 0&$'*) ("22.) ;'-&) ($/B$21-"*) /1(2"') ,/*
'/W,++,-$%5)&50$0'6+"/-,-'$/A).$+"4 ,)#,/*42'?").10"%D(',2)*"%+,2)25+0&$'*
,6") %,/6".) :%$+) '/-"%("2212,%) ,/*) "M-%,4
-'+".) 0%"."/-'/6) ,.) '*'$0,-&'() 61--,-" ("2212,%) "*"+,) '/) 2"..) ."B"%") (,.".) -$ '/D2-%,-"8ZQ
&50$+"2,/$.'.8) J&%$/'() 2".'$/.) %,%"25
"M-"/.'B") ?"%,-'/$(5-") /"(%$.'.A) B".'4
2",*) -$) .(,%.8) 9/) ($/-%,.-A) ,(1-") 2".'$/.
(2".A) 01.-12".A) ,/*) 12("%.8) @&") ,(1-"
%".12-) '/) *""0"%) *"%+,2) '/`1%5) ,/*) ($/4 !34M.0H5D0386
B,%',/-.)(,/)"M&'#'-)25+0&$(5-'()B,.(14
."31"/-25) $:-"/) %".$2B") 2",B'/6) B,%'4
2'-'.) ;'-&) D#%'/$'*) *"6"/"%,-'$/) $: !"($/*,%5) '/:"(-'$/) '.) -&") +$.-) ($+4
$2':$%+) <.+,220$M42'?"=) .(,%.8) @&") 0%".4
#2$$*)B".."2);,22.8 +$/) ($+02'(,-'$/) $:) 0'-5%',.'.) 2'4
"/(") $:) 2".'$/.) '/) B,%'$1.) .-,6".) $: ]((,.'$/,2)JHKXo)25+0&$'*)("22.),/* (&"/$'*".8) f^SFG) +,5) #") ,..$(',-"*
"B$21-'$/) '+0,%-.) ,) 0$25+$%0&$1.) ,04
$((,.'$/,2) ,-50'(,2) 25+0&$'*) ("22.) +,5 ;'-&) 2$;46%,*") :"B"%A) +,2,'."A) &",*4
0",%,/(")-&,-)'.)(&,%,(-"%'.-'()$:)0'-5%',4
#") .""/) ,.) ,) /$/4.0"('D() D/*'/6) '/ ,(&"A) ,/*) ,%-&%,26',8) f,-'"/-.) ;'-&
.'.)2'(&"/$'*".8
+,/5) (1-,/"$1.) 25+0&$'*) '/D2-%,-".8 f^OE) (,/) *"B"2$0) &'6&) :"B"%A) +,2,'."A
@&")0%"."/(")$:),/),00%"(',#2")/1+#"%. +5,26',A) ,%-&%,26',A) ,/*) 6,.-%$'/-".-'/,2
=5J3,5D3,K(%+6D6 $:)-&".")("22.)'.)/$-)($/.'.-"/-);'-&)(2,.4 ,/*) ("/-%,2) /"%B$1.) .5.-"+) .5+0-$+.8
.'()0'-5%',.'.)2'(&"/$'*".)$:),/5)-50"),/* ]((,.'$/,225A) *"#'2'-,-"*) 0,-'"/-.) +,5
P'.("22,/"$1.) /$/4.0"('D() ,#/$%+,2'4 .&$12*)%,'.")($/("%/):$%)-&")25+0&$+,4 *'"8) f^J) &,.) #""/) ,..$(',-"*) 1/($+4
-'".)'/)#2$$*)-".-)%".12-.)$((1%)#1-),%")$: -$'*) 0,012$.'.>JHKXo) ,/,02,.-'() 2,%6" +$/25) ;'-&) ^ff) '/) (&'2*%"/8Z[) H".0'-"
2'--2")0%,(-'(,2)B,21"8)^"1?$(5-$.'.),/*),
*"(%",."*)JHRYJHQ)%,-'$)(,/)$((1%8
!;:
!"#$%&'()c d";"%) -&,/) CXX) (,.".) $:) :,+'2',2) 2'4
(&"/)02,/1.)&,B")#""/)%"0$%-"*8)@&"):,4 =9!"&?($=#?R@
+'2',2):$%+)-"/*.)-$)#")+$%")0%$-%,(-"*
*'.($+:$%-) ,/*) *'.,#'2'-58) E"/("A) -%",-4 N42)*%$'@3,&4)9./ @$0'(,2) .-"%$'*.) ,%") -&" `1/(-'$/);'-&)-$0'(,2)621($($%-'($'*.8)G
+"/-)$0-'$/.).&$12*)#"),..".."*):$%),-4 D%.-42'/") -&"%,05) '/) +1($.,2) 2'(&"/) 02,4 *$.")%,/6"):%$+)KX)-$)QX)+6Y*,5A)-,4
-"/*,/-) %'.?.) ,/*) #"/"D-.) ,/*) -,'2$%"* /1.8RR)G)B,%'"-5)$:)-$0'(,2)621($($%-'($'*. 0"%"*)$B"%)K)-$)V);""?.A).&$;.)#"/"D-8
-$) -&") "M-"/-) ,/*) ."B"%'-5) $:) *'.",."8 &,B")#""/).&$;/)-$)#")"::"(-'B"8)O.")$: c"2,0.".),%")($++$/),:-"%)*$.")%"*1(4
GB$'*,/(") $:) "M,("%#,-'/6) *%16.A) 1/4 $((21.'B") +,-"%',2.) .1'-,#2") :$%) +1($1. -'$/)$%)*'.($/-'/1,-'$/8)E'6&"%)*$.".
2"..) /"("..,%5A) ,/*) +'/'+'7'/6) -%,1+, +"+#%,/".A) .1(&) ,.) ]%,#,."A) +,5) 0%$4 ,%")$:-"/)/""*"*):$%)".$0&,6",2)2'(&"/
-$) .?'/) ,/*) +1($.,2) -'..1".) ,%") %$14 B'*")0%$-"(-'$/),/*).1.-,'/"*)-'..1")($/4 02,/1.8)]%,2)(,/*'*',.'.)'.),)($++$/
-'/"25)%"($++"/*"*8 -,(-);'-&)-&")621($($%-'($'*A),.);"22),.),24 ($+02'(,-'$/8
F,%'$1.)*%16.)&,B")#""/)0%$0$."*):$% 2"B',-") -&") *'.($+:$%-) ,..$(',-"*) ;'-&
-&")-%",-+"/-)$:)$%,2RI>NI ,/*)(1-,/"$1. "%$.'B")2".'$/.8)d21$('/$/'*")'/),/),*&"4 6-,/95/7*8 @$0'(,2) %"-'/$'(),('*)<-%"-'4
2'(&"/) 02,/1.NK>VV) ,/*) -&") +,`$%'-5) $: .'B")6"2)$%)#,."A)X8Cm)W1$('/$2$/"),("-$4 /$'/)6"2=)&,.)#""/).&$;/)-$)#")"::"(-'B"
-&".") ($/.'.-) $:) .+,22) ."%'".) $:) 0,-'"/-. /'*"A),/*)X8XNm)(2$#"-,.$2)0%$0'$/,-")'/ '/)"%$.'B"),.);"22),.)02,31"42'?")$%,2)2"4
$%) ,/"(*$-".8) P,/5) $:) -&") ,*B$(,-"* ]%,#,.") .&$;"*) 6$$*) %".12-.8) G002'(,4 .'$/.8) 9%%'-,-'$/) $:-"/) +,?".) -&'.) 2$(,24
-%",-+"/-.) 2,(?) ($/(21.'B") "B'*"/(") :$% -'$/) :$1%) -$) .'M) -'+".Y*,5) '.) %"($+4 '7"*),00%$,(&)-$)-&"%,05)2"..),--%,(-'B"8
":D(,(58VZ +"/*"*8)@%",-+"/-)+,5)#")($+02'(,-"* 9.$-%"-'/$'/) 6"2) '.) ,2.$) "::"(-'B"A) ".0"4
#5):%"31"/-)'/:"(-'$/.);'-&)$%,2)(,/*'*'4 (',225) '/) /$/"%$.'B") $%,2) 2".'$/.8) 9+4
,.'.8)@&")1.")$:)(&2$%&"M'*'/")621($/,-" 0%$B"+"/-) '.) 1.1,225) /$-"*) ,:-"%) I
<,5.(=0H2+8($.58E6 <\$M)IV4K= +$1-&;,.&".) ,/*) -$0'(,2) ,/-'4(,/*'*,2 +$/-&.a) &$;"B"%A) %"(1%%"/(") '.) ($+4
+"*'(,-'$/.) '.) %"($++"/*"*) *1%'/6 +$/) ,:-"%) *'.($/-'/1,-'$/) $:) -&"%,058V[
58B87?@,S8?$678$ d$%) $%,2) 2'(&"/) 02,4 -&"%,058 @$0'(,2) %"-'/$'*.),%")$:-"/)1."*)'/)($/4
/1.A)6$$*)$%,2)&56'"/"),/*)%"612,%)0"%4 9/) .$+") .'-1,-'$/.) ;&"%") ."($/*,%5 `1/(-'$/) ;'-&) -$0'(,2) 621($($%-'($'*.8
.$/,2) ,/*) 0%$:"..'$/,2) *"/-,2)(,%") /""* '%%'-,-'$/) ,/*) '/W,++,-'$/) $:) $%,2) -'.4 G2-&$16&) /$-) 0%$B"/) '/) (2'/'(,2) -%',2.A
-$)#")"/($1%,6"*8)!"B"%,2)-%",-+"/-),04 .1".),00",%)-$)#")%"2,-"*)-$)($2$/'7,-'$/ -&'.) +,5) '+0%$B") -&") ":D(,(5) ,/*
0%$,(&".) ,%") 1.":12) :$%) $%,2) $%) +1($1. $:)-&")+$1-&)#5)(,/*'*,A),/),/-':1/6,2 2".."/)-&").'*")"::"(-.8
+"+#%,/") 2'(&"/) 02,/1.8) c"02,("+"/- -%",-+"/-)($1%.")<-%$(&")$%)$%,2=)+,5)#" S-%"-'/,-") $%,225) &,.) #""/) 1."*) ,-) ZN
$:) ,+,26,+) $%) 6$2*) *"/-,2) %".-$%,-'$/. '/*'(,-"*8 +6Y*,5) <X8V) -$) C8X) +6Y?6Y*,5=) '/) "%$4
;'-&)($+0$.'-")+,-"%',2)'.):%"31"/-25)$: @$0'(,2) ,/".-&"-'(.) ,2.$) 0%$B'*" .'B") $%,2) 2'(&"/) 02,/1.) ;'-&) .'6/'D(,/-
($/.'*"%,#2") #"/"D-) '/) 0,-'"/-.) ;'-& .5+0-$+,-'() #"/"D-) :$%) 0,-'"/-.) ;'-& '+0%$B"+"/-)'/)-&")+,`$%'-5)$:)0,-'"/-.8
$%,2)2'(&"/$'*)%",(-'$/.A)"B"/)'/)-&"),04 *':D(12-5)",-'/6),/*)(&";'/68)9-)'.)$:-"/ c"2,0.".),%")($++$/),:-"%)*'.($/-'/1,4
0,%"/-),#."/(")$:)%"2"B,/-)0,-(&)-".-)%"4 ($+0$1/*"*) ;'-&) -$0'(,2) ($%-'($.-"%4 -'$/)$:)+"*'(,-'$/8RN)@;$4-&'%*.)$:)0,4
.12-.8)J&%$/'()2".'$/.)$/)-&")#1((,2)+14 $'*.8) g21($($%-'($'*.) ($/-,'/'/6) B,6'4 -'"/-.) .&$;"*) +,%?"*) '+0%$B"+"/-
($.,) '/) ($/-,(-) ;'-&) +"-,2) $%) $-&"% /,2) ,/*) %"(-,2) .100$.'-$%'".) ,%") 1.1,225 $%)($+02"-")%"+'..'$/);'-&'/)Q);""?.
($/-,(-) ."/.'-'7"%.) :%"31"/-25) &",2 &"20:12) :$%) +1($.,2) '/B$2B"+"/-) '/ $:) '/.-'-1-'/6) ,('-%"-'/A) KX) +6Y*,58RV
0%$+0-25),:-"%)%"02,("+"/-AIXAIC),/*A)$(4 -&"."),%",.8 ]/25)-&"),%$+,-'()%"-'/$'*),('-%"-'/)'.
(,.'$/,225A)2".'$/.),-).'-".)*'.-,/-)-$)$%,2 g21($($%-'($'*.) (,/) #") ,*+'/'.-"%"* (1%%"/-25) ,B,'2,#2") #5) 0%".(%'0-'$/) ,:4
2".'$/.) +,5) ,2.$) (2",%) ,:-"%) %"+$B,2) $: #5) '/-%,2".'$/,2) '/`"(-'$/8) @%',+('/$4 -"%) -&") %"+$B,2) $:) "-%"-'/,-") :%$+) -&"
+"-,2)%".-$%,-'$/.8)g'/6'B,2)2".'$/.)+,5 2$/") ,("-$/'*") RX) +6Y+^) $%) ,-) *'21-"* O8!8) +,%?"-8) @&"%") '.) /$) ($/(21.'B"
%".0$/*) 2"..) :,B$%,#258) @&") *"('.'$/) -$ ($/("/-%,-'$/.)':)"::"(-'B"),/*).,:"8VQ *,-,)$/)-&")":D(,(5)$:)$%,2)-%"-'/$'/)$%
1/*"%6$) %"+$B,2) ,/*) %".-$%,-'$/) '.) $:4 '.$-%"-'/$'/8
-"/)*':D(12-),/*)1.1,225)*"0"/*.)$/)-&" *+*,-./012 3405056,/05/7* 8 !5.4
(&%$/'('-5A) ."B"%'-5A) ,/*) (2'/'(,2) ,/* -"+'()621($($%-'($'*.)0%$B'*")"::"(-'B"4 0+035*:56/9-;1 ,<0653/.4*; <97
0,-(&) -".-) "B'*"/(") :$%) '/B$2B"+"/-) #5 /"..)'/)"%$.'B")$%,2),/*)B12B$B,6'/,2)2'4 :/.-0653/.4*8 @$0'(,2) ,002'(,-'$/) $:
-&")+"-,2Y0%$.-&".'.),.);"22),.)-&")2"B"2 (&"/)02,/1.8)!5.-"+'()*$.'/6)(,/)#" (5(2$.0$%'/"A) CXX) +6Y+^A) N) +^) -&%""
$:):%1.-%,-'$/)$:)-&")0,-'"/-8 1."*),2$/"A)$%A)+$%")($++$/25A)'/)($/4 -'+".)*,'25)&,.).&$;/)#"/"D-):$%)$%,2)2'4
!<:
#*+&'/(-
G+*&)3*$)'.-+'!>)&$*->,'B#%1*$'("&$>,
CDA4>?@ AIR$4>?@ $R$C8S4>
B0,6D(.08+ %3M0H5.(6D+,30-6 `])s-5K $63,5.+8(58-( @K6D+40H(6D+,30-6 dh]bh(41s-5K
98D,5.+60385.(6D+,30-6 X])h(41s4= E.D,5L03.+D(#( &D,+D085D+ `h]fX(41s-5K
%5H,3.04E6( Z5,05J.+ .012D #H0D,+D08 dh(41s-5K
$04+H,3.04E6 Z5,05J.+ 963D,+D08308 )h]_h(41s-5K
@+H38- !KH.36M3,08+ d]`h(41sO1s-5K
.08+ :5M638+ )hh(41s-5K
"K-,3FKH2.3,3QE08+ )hh]_hh(41s-5K
#I5D203M,08+(4KH3M2+83.5D+(43C+D0.( `Xhh(41(J0-
@M+H05. :3FKHKH.08+N(D+D,5HKH.08+N(58-(80H3D08540-+ =0H2+8(M.58E6(M+4M20130-+6
C3,46 98D+,C+,38[ ()J *+8+,5.0I+-
;+D,380-5I3.+ *+8+,5.0I+-
!KH.3M236M2540-+ '+C,5HD3,K(.0H2+8(M.58E6
;+D23D,+F5D+ '+C,5HD3,K(.0H2+8(M.58E6
,.) ,) 6"/"%,2'7"*) ($/*'-'$/8) @&") &'.-$4 -'$/) :$%) (&'2*%"/A) 5$1/6) ,*12-.A) ,/*
!"#$%&'()f 0,-&$2$6'() D/*'/6.) ,%") (&,%,(-"%'.-'(8 +,2".)&,.),2.$)#""/)%"0$%-"*A)#1-A),6,'/A
G2-&$16&)-&")($/*'-'$/)'.)$:-"/)(&%$/'(A -&".")*,-,),%")/$-);"22)".-,#2'.&"*8)@&"
-&")0%$6/$.'.)'.)6$$*A),/*)/$)(2",%25),.4 '/('*"/(") '.) ".-'+,-"*) -$) #") ,00%$M'4
@*+)%U,B*0*VQ1 .$(',-"*) .5.-"+'() '22/"..".) &,B") #""/ +,-"25) K8R) (,.".YCXAXXX) 0$012,-'$/A
*$(1+"/-"*8 #,."*) $/) ,) IN45",%) .1%B"5) $:) .?'/) *'.4
;5,O('G($0DD+.O3/ ",.".)'/)G:%'(,/)G+"%'(,/.8K)J$+0,%"*
;5I+8(@G(:53E- &$9:&;9<=<*>
-$)-&")+$%")($++$/)2'(&"/)02,/1.A)-&"
(%1*") %,-'$) $:) 2'(&"/) /'-'*1.) -$) 2'(&"/
\"(,1.")-&")*'.",.")'.)1/($++$/A),((14 02,/1.) '.) C8ZUCXXA) #,."*) $/) 0,-&$2$6'(
^'(&"/)/'-'*1.)<^,-'/)/'-'*1.A)q.&'/5r)$% %,-") "0'*"+'$2$6'() (&,%,(-"%'.-'(.) $:) 2'4 *',6/$.'.)$:)(,.".)"B,21,-"*)$B"%)."B"%,2
q62'.-"/'/6r=) '.) ,/) 1/($++$/A) 1.1,225 (&"/)/'-'*1.)&,B")/$-)5"-)#""/)*"D/"*8 *"(,*".),-)-&")P,5$)J2'/'(8
,.5+0-$+,-'() (1-,/"$1.) "%10-'$/) D%.- ^'(&"/) /'-'*1.) '.) ,) *"%+,-$.'.) -&,-) $(4
*".(%'#"*) #5) d"2'M) f'/?1.) '/) C[XC) ,/* (1%.)'/:%"31"/-25),/*)&,.)#""/)%"0$%-"*
:1%-&"%)(&,%,(-"%'7"*)#5)&'+)'/)C[XZ8CAI -$) ,::"(-) #2,(?.) +$%") -&,/) J,1(,.',/.A &%9<=<*>(#?:($#%"<*&?&@9@
@&") *"%+,-$.'.) ($/.'.-.) $:) .+,22A) 62'.4 ,2-&$16&) /$) .-%$/6) 0%"*'.0$.'-'$/) :$% ]/(") ($/.'*"%"*) ,) -1#"%(12$'*) %",(-'$/A
-"/'/6A)W".&4($2$%"*)-$)0'/?)$%)%"**'.&4 ,/5) %,(") '.) (2",%25) "B'*"/-8) f"%&,0.) -&" 2'(&"/) /'-'*1.) '.) (1%%"/-25) %"6,%*"*) ,.) ,
#%$;/) 0,012".) -&,-) +,5) #") 2'+'-"*) -$ %"2,-'B") 0%$+'/"/(") $:) 0,2") 2".'$/.) $/ *'.$%*"%) $:)1/?/$;/) "-'$2$658)@&")%"2,4
-&") 0"/'.A) 6"/'-,2',A) ,#*$+"/A) ,/*) "M4 *,%?) .?'/) ,(($1/-.) :$%) -&") %"0$%-"*) '/4 -'$/.&'0) #"-;""/) 2'(&"/) /'-'*1.) ,/*) 2'4
-%"+'-'".) $%A) 2"..) :%"31"/-25A) +,5) $((1% (%",."*) '/('*"/(") '/) #2,(?.8) G) 0%"*'2"(4 (&"/)02,/1.)&,.) #""/)*"#,-"*) :$%) +,/5
!<<
=9!"&?(?9%9:R@ !"#$%&'0()
!-37&+#,-$'-.'K*&)>+*,'0*);**$'B#%1*$'J#)#?>,'&$?'B#%1*$'("&$>,
#%(#(*=#?!&( 98H0-+8H+
B5!9CJ'J5G52I/
'5,+
B5!9CJ'(B<JI/
!34438
=+6038
@0I+ R6E5..K(`])(44 Z5,05J.+N(E6E5..K(.5,1+,
@25M+ '3E8- $3.K1385.
!3.3, B.+62N(M08ON(,+-[J,3/8 &,KD2+45D3E6(D3(L03.5H+3E6
\0HO254(6D,05+ #J6+8D $,+6+8D
;EH365.(H2581+6 '5,+ Z5,05J.K(M,+6+8D
@45..N(1.06D+8081N(V+62[H3.3,+-(D3(M08O( $,E,0DE6 R8H34438 R6E5..K(M,+6+8DN(45,O+-
3,(,+--062[J,3/8(M5ME.+6(3C(E8O83/8(
+D03.31KG "06D3M5D23.31K
"KM+,O+,5D3606 Z5,05J.+(58-(C3H5. R6E5..K(M,+6+8D
:06D08HD0L+N(H0,HE46H,0J+-(08P.D,5D+(3C( $5,5O+,5D3606 ;36D.K(M,+6+8D ?3D(C3E8-
.K4M23HKD+6(58-(206D03HKD+6(08(M5M0..5,K( 98P.D,5D+ B3H5.(08(38+(D3(D2,++(M5M0..5,K(J3-0+6 A58-[.0O+N(+FD+8-6(D2,3E12(
-+,406(60DE5D+-(-0,+HD.K(J+8+5D2(D2088+-( 458K(,+D+(,0-1+6
+M0-+,406G =K4M23HKD+6 Z5,05J.+ Z56D(45j3,0DK(3C(H+..6
%2+,+(06(83(5663H05D+-(6K6D+40H(-06+56+G( "06D03HKD+6 Z5,05J.+N(5.436D(5./5K6(M,+6+8D #.436D(838+
*058D(H+..6 <HH560385. ?38+
$,3183606(06(133-G
:K6O+,5D3D0H <HH560385. Z+,K(H34438
944E83M5D23.31K
5",%.8R)@&")($4"M'.-"/(")$:)#$-&)*'.",.".
!KD30-6 R6E5..K(8+15D0L+ 944E831.3JE.08(;(58-(3D2+,(
'/) .$+") 0,-'"/-.) ,/*) -&") $#."%B,-'$/
H38jE15D+6
-&,-) -&") *'.(%"-"A) -'/5) 0,012".) $:) 2'(&"/
A56+4+8D(4+4J,58+ R6E5..K(8+15D0L+ B0J,0831+8N(3D2+,(H38jE15D+6
02,/1.) ,%") '/*'.-'/61'.&,#2") :%$+) -&$."
$:) 2'(&"/) /'-'*1.) ;"%") 1."*) -$) .100$%- 944E83206D3H2+406D,K
-&")B'";)-&,-)2'(&"/)/'-'*1.)'.),)B,%',/-)$: !:_u(.K4M23HKD+6 ;5j3,0DK(3C(H+..6 ;5j3,0DK(3C(H+..6
2'(&"/) 02,/1.8) E$;"B"%A) +$.-) "M0"%'4 !:cbu(H+..6 !34438 R8H34438
"/("*)(2'/'(',/.A),.);"22),.)%".",%(&).-1*4
'".A):,B$%)-&")."0,%,-'$/)$:)-&".")-;$)*'.4
",.".) ,.) *'.-'/(-) "/-'-'".) #,."*) $/) #$-& (2",%"*) -&") "%10-'$/A) 0%".1+,#25) #5) ,24 f,2+$402,/-,%)'/B$2B"+"/-)+,5)+,/'4
(2'/'(,2) ,/*) '++1/$*"%+,-$0,-&$2$6'( -"%'/6)-&")("2212,%)'++1/'-5A)("2212,%)'/D24 :".-)."B"%,2)+$%0&$2$6'():$%+.8)\'2,-"%,2
*'::"%"/(".),/*)-&")(&,%,(-"%'.-'(),/*)*'.4 -%,-'$/A),/*)(5-$?'/")"M0%"..'$/8V &50"%?"%,-$.'.) $:) 0,2+.) ,/*) .$2".) ;'-&
-'/(-'B") &'.-$2$6'() (&,/6".8) @,#2") IZ4C G) %,%") :,+'2',2) 0%"."/-,-'$/) $:) 2'(&"/ "%5-&"+,A)D..1%'/6A),/*),)-"M-1%")%"."+4
.1++,%'7".) .$+") $:) -&".") *'::"%"/(". /'-'*1.) &,.) #""/) %"0$%-"*A) ,2-&$16&) /$ #2'/6) D/") .,/*0,0"%) &,.) #""/) $#4
,/*).'+'2,%'-'".8)G/$-&"%)"-'$2$6'()-&"$%5 6"/"-'():,(-$%.)$:)-&")*'.",.")&,B")#""/ ."%B"*8CKACR) ]((,.'$/,225A) +'/1-") ?"%,4
$:) 2'(&"/) /'-'*1.) 0%$0$.".) -&,-) ,/) ,22"%4 '*"/-'D"*8[ -$-'() .0'(12".) $/) -&") 0,2+,%) .1%:,(".) $%
6"/) +,5) (,1.") "0'*"%+,2) ,/*) *"%+,2 +12-'02")0'/0$'/-)0,012".)-&,-)"M-"/*)-$
,/-'6"/40%"."/-'/6) ("22.) <"868A) ^,/6"%4 -&") *$%.,) $:) -&") "M-%"+'-'".) $((1%) <d'68
!=9?9!#=(B9?:9?*@ IZ4I=8) L,'2) ,#/$%+,2'-'".) 1.1,225) +,/'4
&,/.)("22.=)-$),(-'B,-"),)("224+"*',-"*)%"4
.0$/."A) '/'-',-") 25+0&$(5-") ,((1+12,4 ^'(&"/) /'-'*1.) '.) ($+0$."*) $:) +12-'02"A :".-) ,.) 2$/6'-1*'/,2A) #",*"*) %'*6'/6A) ,/*
-'$/A) ,/*) :$%+) *'.(%"-") '/W,++,-$%5 *'.(%"-"A).+$$-&A)W,-A)%$1/*)0,012".8)9/4 -"%+'/,2).02'--'/6);'-&)$%);'-&$1-)'%%"614
0,012".8) @&") 0%"."/(") $:) 2,%6") /1+#"%. *'B'*1,2) 0,012".) ,%") C) -$) I) ++) '/) .'7"A 2,%)0'--'/68)^".'$/.)$:)2'(&"/)02,/1.)+,5
$:) ^,/6"%&,/.) ("22.) '/) -&") '/D2-%,-") .104 W".&4($2$%"*) -$) .2'6&-25) 0'/?) $%A) '/ '/:%"31"/-25)#")0%"."/-).'+12-,/"$1.258CZ
0$%-.)-&'.)-&"$%58N)!0"('D()(5-$?'/".)0%$4 #2,(?.A) &50$0'6+"/-"*A) ;'-&) ,) 62'.-"/4 ^'(&"/) /'-'*1.) '.) 1.1,225) ,.5+0-$+,-'(a
*1("*) #5) -&") '/W,++,-$%5) ("22.) '/W14 '/6) ,00",%,/(") <d'68) IZ4C=8) !$+"-'+".A &$;"B"%A)0%1%'-1.)'.)$((,.'$/,225)0%"."/-
"/(")-&")'++1/")%".0$/."),/*)+,5).&':- +'/'+,2) .(,2") '.) 0%"."/-) $%) (,/) #") "2'(4 ,/*) .$+"-'+".) '/-"/."8) @&"%") ,%") /$
-&")@)25+0&$(5-")%".0$/.")-$;,%*)-&")@ '-"*) #5) %1##'/6) -&") .1%:,(") $:) -&") 0,04 ($/.-'-1-'$/,2).5+0-$+.)$%).5.-"+'(),#4
&"20"%)I).1#."-)-&,-)&,.)-&")0$-"/-',2)-$ 12".8) ]((,.'$/,225A) -&") 0,012".) ,%" /$%+,2'-'".) ,..$(',-"*) ;'-&) -&") *'.",."8
0%$*1(") -&") .10"%D(',2) *"%+,2) 6%,/12$4 6%$10"*),/*)-&")'.$+$%0&'()$%)l$"#/"% ^'(&"/) /'-'*1.) &,.) #""/) %"0$%-"*) ,:-"%
+,.) .""/) '/) 2'(&"/) /'-'*1.8V) d1/(-'$/,2 0&"/$+"/$/) '.) $#."%B"*8) ^".'$/.) +,5 &"0,-'-'.)\)B,(('/,-'$/8CQ
'+0,'%+"/-) '/) ("2212,%) '++1/'-5) &,. $((1%) ,/5;&"%") $B"%) -&") .?'/) .1%:,("a
#""/) %"0$%-"*) '/) 6"/"%,2'7"*) 2'(&"/) /'-'4 &$;"B"%A)-&")+$.-):%"31"/-).'-".)$:)0%"4
$#%"<=<*>
*1.AZ),/*)2'(&"/$'*)0&$-$"%10-'$/.).'+'4 *'2"(-'$/) ,%") -&")W"M1%,2) .1%:,(".) $:)-&"
2,%) -$) 2'(&"/) /'-'*1.) ;"%") .""/) '/) ,) 0,4 ,%+.) ,/*) -&") ;%'.-.A) 2$;"%) ,#*$+"/A G)*"/.")+,..)$:)'/D2-%,-'/6)25+0&$&'.-'$4
-'"/-) ;'-&) E9F) '/:"(-'$/8Q) c,%") (,.".) $: #%",.-.A)-&")62,/.),/*).&,:-)$:)-&")0"/'.A (5-'()("22.)'.).'-1,-"*)'++"*',-"25)#"2$;
2'(&"/)/'-'*1.),..$(',-"*);'-&),-$0'()*"%4 ,/*) $-&"%) ,%",.) $:) -&") 6"/'-,2) %"6'$/8 -&")"0'*"%+'.),/*)%".12-.)'/);'*"/'/6)$:
+,-'-'.A) J%$&/) *'.",."A) ,/*) `1B"/'2" c,%") .'-".) $:) '/B$2B"+"/-) '/(21*") +14 -&")0,0'22,%5)*"%+'.);'-&)"2$/6,-'$/),/*
(&%$/'() ,%-&%'-'.) &,B") #""/) %"0$%-"*8) 9/4 ($1.)+"+#%,/".A)/,'2.A)0,2+.A),/*).$2".8 -&") ,00",%,/(") $:) "+#%,("+"/-) #5
*1(-'$/) $:) ,22"%6'() ($/-,(-) *"%+,-'-'.) #5 c,%") (2'/'(,2) B,%',/-.) '/(21*") B".'(12,%A /"'6&#$%'/6)%"-")%'*6".)<d'68)IZ4K=8)]((,4
-$0'(,2) ,002'(,-'$/) $:) *'/'-%$(&2$%$#"/4 &"+$%%&,6'(A) .0'/$1.) :$22'(12,%A) 2'/",%A .'$/,225A) -;$) $%) -&%"") 0,0'22,%5) .0,(".
7"/") '/) ,) 0,-'"/-) ;'-&) 2'(&"/) /'-'*1. 6"/"%,2'7"*A),/*),(-'/'()-50".8CX>CV +"%6") -$6"-&"%) ,.) 0,%-) $:) -&") '/W,++,4
!<=
? G
345678,!E9" =0H2+8(80D0-E6G(?F($08M308D(D3(M082+5-N(-06H,+D+N(-34+[625M+-(M5ME.+6(3L+,(EMM+,(J5HON(623E.-+,N(58-(5,4G(@0-+[.012D081N(56(M+,C3,4+-(2+,+N
+8258H+6(L06E5.0I5D038(3C(4E.D0M.+(645..(.+60386G(GF(98-0L0-E5.(M5ME.+6N(V+62[(D3(M08O[H3.3,+-(3L+,(H2+6D(58-(5,4N(J+H34081(43,+(1,3EM+-(3L+,(58D+,03,(5F0..5G
-$%5)'/D2-%,-"8)@&")$B"%25'/6)"0'*"%+'.)'. (5-".A) 25+0&$(5-".A) ,/*) $((,.'$/,2):$%4 -'$/) $:) -&") '/W,++,-$%5) '/D2-%,-") &,.
-&'//"*) ,/*) $((,.'$/,225) *"+$/.-%,-". "'6/) #$*5) $%) @$1-$/4-50") 6',/-) ("22.8 #""/) *".(%'#"*8N) f1%01%'() $%) &"+$%4
("/-%,2) 0,%,?"%,-$.'.) ;'-&$1-) &50"%6%,/4 O.1,225A) /$) 02,.+,) ("22.) $%) "$.'/$0&'2. %&,6'()2".'$/.),%"),..$(',-"*);'-&)(,0'24
12$.'.8) @&'.) '.) ,) (&,%,(-"%'.-'() *',6/$.-'( ,%").""/8)9/).$+")(,.".A)-&")+,`$%'-5)$: 2,%5) ;,22) *"6"/"%,-'$/) ,/*) %"*) #2$$*
D/*'/6A) ;&"/) $#."%B"*) <."") d'68) IZ4K\=8 -&") ("22.) '/) -&") '/D2-%,-") ,%") &'.-'$(5-'(8 ("22)"M-%,B,.,-'$/8CC
P'/'+,2)&5*%$0'()*"6"/"%,-'$/);'-&):"; f,2+,%) 2".'$/.) +,5) .&$;) ,) *""0) 0,%,4 @&") +,`$%'-5) $:) -&") ("22.) '/) -&") '/D24
*5.?"%,-$-'() ("22.) '.) 1.1,225) $#."%B"* ?"%,-$-'() 02168) @%,/."0'-&"2',2) "2'+'/,4 -%,-") ,%") @) 25+0&$(5-".) '/-"%+'M"*
;'-&'/)-&")#,.,2)"0'*"%+,2)2,5"%),*`,("/-
-$)-&")0,0'22,%5)*"%+,2)'/D2-%,-"8)_'-&)-&"
*"B"2$0+"/-) $:) &5*%$0'() *"6"/"%,-'$/A
#,.,2)("22)*'.%10-'$/A),/*)"0'*"%+,2)-&'/4
/'/6A) -&") "0'*"%+'.) +,5) 0,%-',225) *"-,(&
:%$+)-&")*"%+'.8)J$22$'*)#$*'".),%")%,%"25
.""/)'/)2'(&"/)/'-'*1.A)'/)($/-%,.-)-$)-&"'%
:%"31"/-)$((1%%"/(")'/)2'(&"/)02,/1.8)@&"
*"%+,2)'/D2-%,-")'.);"22)('%(1+.(%'#"*),/*
($+0$."*) $:) (2$."25) ,..$(',-"*) &'.-'$4
G
345678,!E9: =0H2+8(80D0-E6G(?F(:06D08HD0L+N(H0,HE46H,0J+-(08P.D,5D+(3C(M5M0..5,K(-+,406(60DE5D+-(-0[
,+HD.K(J+8+5D2(D2088+-(+M0-+,406G(;58K(206D03HKD+6(4081.+(/0D2(.K4M23HKD+6(D25D(5,+(+8L+.3M+-(JK(J3,[
345678,!E9! =0H2+8( 80D0-E6G( \,06D( 58-( M5.[ -+,081( ,+D+( ,0-1+6G( T"+45D3FK.08( 58-( +3608GU(GF( !+8D,5.( M5,5O+,5D3606N( +M0-+,45.( D2088081N( 58-( .366( 3C
45,(08L3.L+4+8D(/0D2(-+L+.3M4+8D(3C(2KM+,O+,5[ 1,58E.5,(.5K+,(/0D2(C3HE6(3C(1,58E.345[5MM+5,081N(08V5445D3,K(H+..6(58-(,+5HD0L+N(P81+,[.0O+(+FD+860386
D3D0H(.+60386G 3C(+M0-+,406G(T"+45D3FK.08(58-(+3608GU !<E
;'-&) :";) -$) +,/5) &'.-'$(5-">+,(%$4 #*+&'0() +,5) ,2.$) #") &"20:12) ,/*) &,.-"/) %".$214
0&,6".)-&,-).-,'/);'-&)JHVQA),.);"22),. -'$/) $:) +$%") "M-"/.'B"A) 6"/"%,2'7"*A) $%
2#..*+*$)#&"'2#&4$-,#,'-.'B#%1*$'J#)#?>,
"0'*"%+,2)^,/6"%&,/.)("22.),/*)'/*"-"%4 .5+0-$+,-'() *'.",."8II f.$%,2"/) ,/*) 124
+'/,-") ("22.) -&,-) "M0%"..) !CXX) 0%$-"'/8 !"#$%&'()*+% -%,B'$2"-) G) 2'6&-AIC) 12-%,B'$2"-) G) ,/*) \
JHRo) ("22.) 0%"*$+'/,-") $B"%) JHQo) @ =0H2+8(M.58E6 0&$-$-&"%,05AII),.-"+'7$2"AIK),('-%"-'/)$%
25+0&$(5-".8)P,/5)("22.)'/)-&")'/D2-%,-" S(!:b(.K4M23HKD+6(M,+-34085D+ "-%"-'/,-"ACRACZ) 2$;4*$.") (5(2$.0$%'/"AIR
"M0%"..) E^G4Hc) ,/-'6"/A) ;&'(&) '+02'4 S(?3(1,58E.345D3E6(08V5445D038 ,/*) $%,2) '-%,($/,7$2"IN) &,B") ,2.$) #""/
(,-".)-&"+),.),/-'6"/40%"."/-'/6)("22.8N $63,05606 1."*) .1(("..:1225) ;&"/) '/*'(,-"*) :$%
H'%"(-)'++1/$W1$%".("/(")"M,+'/,4 S($.5QE+6(256(60.L+,K(6H5.+ +$%")0%$#2"+,-'()*'.",."8)
-'$/)$:)2'(&"/)/'-'*1.)'.)1.1,225)/"6,-'B" Z+,,EH5(M.585 L,%%$;#,/*) 12-%,B'$2"-) \) ($12*) #") ,
:$%) *"0$.'-'$/) $:) '++1/$62$#12'/.) ,- S(Z5,05J.+(08(60I+ .,:") ,/*) "::"(-'B") -%",-+"/-) '/) 6"/"%,24
-&") *"%+,24"0'*"%+,2) `1/(-'$/A) '/) ($/4 S(Z+,,EH3E6(6E,C5H+ '7"*) 2'(&"/) /'-'*1.8IVAIZ) @,(%$2'+1.) $'/-4
-%,.-)-$)-&")B,.-)+,`$%'-5)<[N)0"%("/-=)$: S(B+/+,(.+60386(D258(.0H2+8(80D0-E6 +"/-);,.),2.$)%"0$%-"*)-$)#")"::"(-'B"),:4
(,.".)$:)2'(&"/)02,/1.)<."")@,#2")IZ4C=8C[ S(=+66(.0O+.K(D3(08L3.L+(4E.D0M.+(585D340H( -"%) C) +$/-&) $:) -&"%,058IQ) E'.-$%5) $:
J5-$'*.),%"),2.$)/$-)1.1,225)$#."%B"*)'/ 5,+56 "M0$.1%")-$)-1#"%(12$.'.)'/)-&")."--'/6)$:
2'(&"/)/'-'*1.8)@&")%".12-.)$:)12-%,.-%1(4 e+,5D3606(M0.5,06( 2'(&"/)/'-'*1.).&$12*)#")'/B".-'6,-"*),/*
-1%,2) .-1*'".) ($'/('*") ;'-&) 2'6&-) +'(%$4 S(;3,+(O+,5D3D0H(58-(6H5.081 ;&"/),00%$0%',-")-%",-"*);'-&),/-'-1#"%4
.($0'()D/*'/6.),/*),2.$).&$;),(-'B,-"* S("58-(-+,45D0D06 (12$1.) +"*'(,-'$/.8) J$+02"-") (2",%,/("
25+0&$(5-") +$%0&$2$65) ;'-&) ($/B$4 S($5.43[M.58D5,(08L3.L+4+8D(3C(.0H2+8( $:)2'(&"/)/'-'*1.);,.).""/)'/)$/")(,."8I[
21-"*)/1(2"'A)%"."+#2'/6)!h7,%5)("22.8IX 80D0-E6
,"-#'.)/ e&>('&B&'&?!&@
:9BB&'&?%9#=(:9#*?<@9@( =0H2+8(6M08E.36E6
$5ME.5,(+HI+45 %2+(CE..(,+C+,+8H+(.06D(C3,(5..(H25MD+,6(
H'::"%"/-',2)*',6/$.'.)$:)2'(&"/)/'-'*1.)'.
.1++,%'7"*)'/)\$M)IZ4C8)@&")+$.-)'+4 =0H2+8(6H,3CE.363,E4( 06(5L50.5J.+(5D(///G-014fGH34G
0$%-,/-) *'::"%"/-',2) *',6/$.'.) '.) 2'(&"/ =0H2+830-(6KM20.0D0H(.+60386(
R8 !+$22"%) \cA) d25//) @JU) 9++1/$&'.4
02,/1.),/*)'.)*"-,'2"*)'/)@,#2")IZ4C8 A3/+830-(M5ME.3606 -$(&"+'(,2) "M,+'/,-'$/) $:) 2'(&"/) /'-'4
@5,H30-3606 *1.) .166".-.) -&,-) '-) '.) /$-) ,) 2$(,2'7"*
=0H2+8(54K.30-36E6 0,012,%) B,%',/-) $:) 2'(&"/) 02,/1.8) D' E%
$'<*?<@9@(#?:( E"&.'@!,%&48* #$UIKIA)C[[I
!=9?9!#=(!<R'@& N8 _%'6&-)G^)"-),2U)G/)'++1/$0&"/$-50'(
.-1*5)$:)2'(&"/)/'-'*1.8)-*+)'GA5'@!,%&;
^'(&"/) /'-'*1.) '.) -50'(,225) ,) :$(,2A %'&#%;&?% 48* %)UIZKA)C[[X
,.5+0-$+,-'(A) (&%$/'() '/W,++,-$%5 \"(,1.")-&")*'.",.")'.),.5+0-$+,-'(),/* CR8 ^1(?"%) gf) "-) ,2U) @%",-+"/-) $:) 0,24
+$02,/-,%)2'(&"/)/'-'*1.);'-&),('-%"-'/8
%",(-'$/)-&,-)"B"/-1,225)%".$2B".).0$/-,4 ."2:42'+'-'/6A) /$) '/-"%B"/-'$/) '.) %"31'%"*
F,'D'@!,%&48* %!&UZ[CA)C[[R
/"$1.25) ,:-"%) +$/-&.) -$) C)5",%)'/) -;$4 '/) +$.-) (,.".8) @%",-+"/-) $:) 2'(&"/) /'-'4 C[8 _,'.+,/) P) "-) ,2U) 9++1/$W1$%".("/-
-&'%*.) $:) 0,-'"/-.) $%A) 2"..) :%"31"/-25A *1.) '.) ;,%%,/-"*) ;&"/) '-) '.) ,..$(',-"* .-1*'".) '/) 2'(&"/) /'-'*1.8) E,"6' @!,%&48*
$B"%) ,) :";) 5",%.8) c,%"25A) -&") "%10-'$/ ;'-&)0%$-%,(-"*)0%1%'-1.)$%);&"/)-&"),04 %&$UIXXA)C[ZK
+,5) 0"%.'.-) '/*"D/'-"258) L";) 2".'$/. 0",%,/(") '/-"%:"%".) ;'-&) -&") 0,-'"/-p. II8 J&"/) _) "-) ,2U) g"/"%,2'7"*) 2'(&"/) /'-'4
*1.8 D'E%'E"&.'@!,%&48* !'UVKXA)C[[Z
+,5) ($/-'/1") -$) *"B"2$0) ,.) $2*"%) 2"4 *,'25),(-'B'-'".),/*) $1-2$$?8) @$0'(,2)6214 IZ8 f,%?)jE)"-),2U)@%",-+"/-)$:)6"/"%,2'7"*
.'$/.)%".$2B"8)^".'$/.)&",2);'-&$1-).(,% ($($%-'($'*.) +,5)5'"2*) :,B$%,#2")%".12-.8 2'(&"/)/'-'*1.);'-&)/,%%$;#,/*)12-%,B'4
:$%+,-'$/)$%)0'6+"/-,%5),#/$%+,2'-'".8 G) .&$%-) ($1%.") $:) $%,2) 621($($%-'($'*. $2"- F,'D'E%'E"&.'@!,%&48* )(UNRNA)IXXV
u(D3(uuuu(p(.+66(H34438s6+L+,+(D3(436D(H34438s6+L+,+G(
!ED58+3E6(=+60386
?>6C8, >6C?B8D6$, 57?3C9W87$6$9ID$C 345678,!O9! B3..0HE.5,(1,5CD[L+,6E6[236D(,+[
78?>C4DB,?3C87,?@@D58B84>,C7?B$A@?B9 5HD038( T*Z"'UG( 98( 634+( M5D0+8D6N( D2+( +5,.0+6D
C?C4DB @&")"%10-'$/)$:),/),(1-")gFEc 4580C+6D5D038( 3C( 5HED+( HED58+3E6( *Z"'( 06( M+,0[ 345678,!O9; @D51+( _( 1,5CD[L+,6E6[236D( ,+[
6"/"%,225) #"6'/.) ;'-&) :,'/-) "%5-&"+,4 C3..0HE.5,(+,KD2+45N(56(6++8(08(D206(M23D31,5M2(5D 5HD038( 623/081( ,EMDE,+-( JE..5+N( +,360386N( 58-
-$1.)+,(12".)$/),/5).?'/).1%:,(")#1-)$:4 -5K(`X(5CD+,(45,,3/(D,586M.58D5D038G H,E6D6(,+6+4J.081(D3F0H(+M0-+,45.(8+H,3.K606G
!="
!"#$%&'1(,
!"#$#%&"'/)&4#$4'/%1*3*'.-+'<%>)*'
!>)&$*->,'O+&.)6Q*+,>,69-,)'E*&%)#-$
/G<OC 2C/!E5(G5DJ
` !ED58+3E6(+,EMD038(08L3.L081(.+66( 345678,!O9< "06D3M5D23[
D258()Xm(3C(J3-K(6E,C5H+(5,+5 .310H(C+5DE,+6(3C(5HED+(HED58+[
) !ED58+3E6(+,EMD038(08L3.L081( 3E6(1,5CD[L+,6E6[236D(,+5HD038N
)Xm]Xhm(3C(J3-K(6E,C5H+(5,+5 1,5-+()G(98V5445D038(3C(D2+(EM[
d &,KD2,3-+,45 M+,(-+,406(06(+L0-+8DN(/0D2(+F[
_ Z+60H.+6(58-(JE..5+ D+86038(3C(.K4M23HKD+6(08D3(D2+
#-5MD+-(C,34(*.EHO6J+,1("(+D(5.^(!.080H5.(4580C+6[ +M0-+,406(58-(08D+,C5H+(H2581+G
D5D0386(3C(1,5CD[L+,6E6[236D(-06+56+(08(2E458(
,+H0M0+8D6(3C(45,,3/(C,34("=#[45DH2+-(60J.081( #2")IQ4R8)P'/'+,2)(%'-"%',):$%)-&")*',6/$4 >I7DB4>,>6C?B8D6$,57?3C9W87$6$9ID$C
-383,6G(<1":$7#":4"4'*: "O^)aXN(`af_G
.'.) '/(21*") ,/) '/D2-%,-") $:) 25+0&$(5-". 78?>C4DB,?3C87,?@@D58B84>,C7?B$A@?B9
'/) -&") *"%+'.A) #,.,2) B,(1$2,%) ,2-"%,-'$/A C?C4DB @&") 2'(&"/$'*) :$%+) $:) gFEH
.?'/)#'$0.5).0"('+"/)+,5)&"20)-$)*'::"%4
,/*) /"(%$.'.) $:) "0'*"%+,2) ("22.) ,-) ,) :%"4 6%",-25)%"."+#2".)2'(&"/)02,/1.A);'-&)"%4
"/-',-"),)gFEc):%$+),)*%16)"%10-'$/)$%
31"/(5) $:) ,-) 2",.-) :$1%) 0"%) 2'/",%) +'22'4 5-&"+,-$1.) -$) B'$2,("$1.) 0$256$/,2A
,) B'%,2) "M,/-&"+8) @%,/.'"/-) ,(,/4
+"-"%) $:) "0'*"%+'.) <6%,*") I=8KX) SM-"/4 B,%',#25) ?"%,-$-'() 0,012".) ,%'.'/6) $/
-&$25-'() *"%+,-$.'.) '.) ,/) '/('*"/-,2) D/*4
.'$/) $:) 25+0&$(5-".) '/-$) -&") "0'*"%+'. W"M$%) .1%:,(".8) !1#."31"/-) 6%",-"%) *'.4
'/6) '/) :"#%'2") 0,-'"/-.) %"("'B'/6) ,/-'/"$4
'.)($++$/)<d'68)IQ4N=8)@&")*'%"(-),00$.'4 -%'#1-'$/) $((1%.) '/) .$+") 0,-'"/-.) <d'68
02,.-'() (&"+$-&"%,05A) ;'-&) $%) ;'-&$1-
-'$/)$:),)25+0&$(5-")-$),)/"(%$-'()?"%,-4 IQ4V=8)@&")2'(&"/$'*)0&,.")%".$2B".);'-&
.-"+) ("22) .100$%-8I[) !,+02'/6) $:) +$%"
'/$(5-") '.) ?/$;/) ,.) 0&4!**+4!' "!**' )!",80+0 0$.-4'/W,++,-$%5)&50"%0'6+"/-,-'$/8
0,20,#2")2".'$/.)0%"*'.0$.".)-$)$#-,'/'/6
,/*) +,5) $((1%) '/) +,/5) -50".) $:) '/-"%4 @&") .(2"%$*"%+$'*) 0&,.") 6%",-25) %"4
-&'.).01%'$1.)*',6/$.'.8)J$/D*"/-)*'::"%4
:,(")*"%+,-'-'.)'/);&'(&)("22)*",-&)'.)+"4 ."+#2".).(2"%$*"%+,)'/)-&,-)B,%',#25)*'.4
"/-',-'$/) #"-;""/) .-,6") R) ,(1-") (1-,/"4
*',-"*) #5) 25+0&$(5-".8) !$+") 31,/-'-,4 -%'#1-"*) 02,31".) $:) -&'(?"/"*) .?'/) ,%'."
$1.)gFEc),/*)-$M'()"0'*"%+,2)/"(%$25.'.
-'$/) $:) /"(%$-'() "0'*"%+,2) ("22.) '. -&,-) &,B") ,) .&'/5A) .$+";&,-) ,-%$0&'(
6"/"%,225)'.)/$-)0$..'#2"A),2-&$16&)*"%+,4
,*B'."*A) #"(,1.") (&,/6".) %":"%,#2") -$ ,00",%,/(") ,/*) B,%'"*) &50"%0'6+"/-,4
-$2$6'.-.) ,%") $:-"/) ,.?"*) -$) -%58) G::"(-"*
-&") 0%"0,%,-'B") %"6'+"/) (2",%25) '/(21*" -'$/),/*)&50$0'6+"/-,-'$/)<d'68)IQ4ZG=8
0,-'"/-.)&,B")%"("'B"*)/1+"%$1.)+"*'(,4
-&'.)D/*'/6A)#1-)/1+#"%.),%")2$;"%)-&,/ @&") 02,31".) *'.02,5) "%5-&"+,) ,/*) 0%$4
-'$/.)?/$;/)-$)(,1.")-$M'()"0'*"%+,2)/"4
'/) ,) gFEc8KX) ]-&"%) &'.-$2$6'() D/*'/6. 6%"..'B")2$..)$:) -&")0'2$."#,("$1.) ,00,4
(%$25.'.A)#1-)%,-'$/,2)(%'-"%',)-$)"M(21*"),
,--%'#1-,#2") -$) +,%%$;4,#2,-'B") +",4 %,-1.8) !$+") 0,-'"/-.) *"B"2$0) B"%5) :";
gFEc)'/)-&'.)."--'/6)*$)/$-)"M'.-8
.1%".)'/(21*")2$..)$:)0$2,%'-5)$:)?"%,-'/$4 .(2"%$*"%+$'*) 02,31".) ,/*) *$) /$-) %"4
(5-".A)2,%6"),/*)#'7,%%"25).&,0"*)?"%,-'4 31'%") -&"%,058) ]-&"%) 0,-'"/-.) *"B"2$0
0).342%3+4$4<1' 4?' !*#3,' H#3%",4#.' M&%?3E
/$(5-".) ;'-&) 1/1.1,2) +'-$-'() D61%".A ;'*".0%",*)*'.",."),..$(',-"*);'-&)`$'/-
5,&.#.E04.3' L,%*3)4"' %?3,&' !$$4<,",)*
,/*)'%%"612,%)/1(2",%):$%+.8KC)@&'.)q*5.4 ($/-%,(-1%".A) (&%$/'() (1-,/"$1.) '.4
N&%".2$%"3%3)4"/ @&")(&,/6".)$:),/)'/-"%4
+,-1%,-'$/r) .&$12*) #") '6/$%"*) ;&"/ (&"+',);'-&)"%$.'$/)<."")d'68)IQ4Z\=A),24
:,(")*"%+,-'-'.),00",%)'/),22)0&,.".)$:),
.""?'/6) -$) ".-,#2'.&) -&") *',6/$.'.) $:) , $0"(',A),/*),).5/*%$+")$:)6"/"%,2);,.-4
(1-,/"$1.) gFEcA) '/(21*'/6) (&%$/'(
gFEc)#"(,1.")'-)+,5)0%"B"/-),*"31,-" '/68) \,(-"%',2) .?'/) '/:"(-'$/.) %"(1%A
.(2"%$*"%+$'*) *'.",."8) @&") 6%,*'/6
,.."..+"/-) $:) -&") .0"('+"/8) !'6/'D(,/- ($/.$/,/-) ;'-&) -&") 6"/"%,2) '++1/$4
.(&"+") :$%) -&") &'.-$0,-&$2$6'() :",-1%".
'/D2-%,-'$/) #5) 25+0&$(5-".) -50'(,225 *"D('"/(5) -&,-) (&,%,(-"%'7".) (&%$/'(
$:),(1-")(1-,/"$1.)gFEc)'.)6'B"/)'/)@,4
*$".)/$-),(($+0,/5)(&,/6".)*1")-$)-&" gFEH8) @&'.) '++1/$($+0%$+'.") 0%$4
0%"0,%,-'B") %"6'+"/A) 0%$B'*"*) -&"%") '.
!"#$%&'1(- /$)"%$.'$/)$%)12("%,-'$/8
9#,)-"-4#%'O+&?#$4'/%1*3*'.-+'<%>)*' SB,21,-'$/.)$:)-&")'++1/$2$6'()(&,/6".
!>)&$*->,'O+&.)6Q*+,>,69-,)'E*&%)#-$ '/) -&") .?'/) *1%'/6) ,(1-") (1-,/"$1.
OE<2C 2C/!E5(G5DJ gFEH)*$(1+"/-)10%"612,-'$/)$:)?"%,-'4
/$(5-")"M0%"..'$/)$:)PEJ)(2,..)99)+$2"4
h ?3,45.(6O08(3,(H2581+6(83D(,+C+,[ (12".),/*)'/-"%("2212,%),*&".'$/)+$2"(12"
5J.+(D3(1,5CD[L+,6E6[236D(-06+56+ C8)9/W,++,-$%5)'/D2-%,-".)($/-,'/),)+'M4
` A565.(L5HE3.0I5D038(3C(D2+(-+,45.[ -1%")$:)JHRo)<&"20"%Y'/*1("%=A)JHQo)<(54
+M0-+,45.(jE8HD038 -$-$M'(Y.100%"..$%=A) ,/*) JHNVo) /,-1%,2
) A565.(L5HE3.0I5D038N(8+H,3D0H(+M0[ ?'22"%)("22)25+0&$(5-".);'-&)"M-"/.'$/)$:
-+,45.(H+..6N(.K4M23HKD+6(08(D2+( ,22).1#."-.)'/-$)-&")"0'*"%+'.8KK)G:-"%)-&"
-+,406(58-s3,(+M0-+,406 0%"0,%,-$%5) %"6'+"/A) -&") /1+#"%) $:
d @EJ[+M0-+,45.(H.+CD(C3,45D038(M.E6( ^,/6"%&,/.) ("22.) 6%,*1,225) *'+'/'.&".
1,5-+()(H2581+6 $B"%) C) -$) R) ;""?.) -$) 1/*"-"(-,#2") 2"B4
_ @+M5,5D038(3C(+M0-+,406(C,34(-+,[ "2.8KR)c"0$012,-'/6)("22.),%")*"%'B"*):%$+
406(M.E6(1,5-+()(H2581+6 -&") *$/$%8) 9/) ,) +1%'/") +$*"2A) ^,/6"%4 345678,!O9= !2,380H( 1,5CD[L+,6E6[236D( -06[
&,/.)("22)/1+#"%),/*):1/(-'$/)*"(%",."* +56+G(Z03.5H+3E6(D3(J,3/8062(.0H2+8(M.58E6].0O+N
#-5MD+-(C,34(=+,8+,(e*(+D(5.^("06D3M5D23.31K(3C( M+,0C3..0HE.5,(M5ME.+6(D25D(5,+(J+H34081(H38VE+8D
1,5CD[L+,6E6[236D(,+5HD038(T*Z"'U(08(2E458(,+H0M0[ +$%")'/),/'+,2.)*"B"2$0'/6)gFEH)-&,/
+8D6(3C(45,,3/(C,34("=#[45DH2+-(60J.081(-383,6G( '/)-&$.")1/*"%6$'/6)-&")0%"0,%,-'B")%"6'4 38(D2+(D,E8ON(3HHE,,081(d(438D26(5CD+,(5..31+8+0H
<1":$7#":4"4'*: "O^dcfN(`af_G +"/),2$/"8KN J38+(45,,3/(D,586M.58D5D038G
!=!
?
345678,!O9E ?F(@H.+,3-+,430-(1,5CD[L+,6E6[236D(,+5HD038G(@208K
J3E8-[-3/8( 6O08( /0D2( L5,05J.+( M014+8D5D038( 06( +L0-+8DG( GF( !2,380H
1,5CD[L+,6E6[236D(-06+56+N(6H.+,3-+,430-(DKM+G(%2+,+(06(6H.+,3606(58-
M30O0.3-+,45(08L3.L081(D2+(+8D0,+(6O08G(%2+(M3,H+.508(/20D+(5,+56(,+[
V+HD( 6H.+,3606N( D2+( ,+-( 06( 45660L+( D+.5810+HD56056( 58-( +,360386N( 58-
D2+( J,3/8( 06( ,+60-E5.( M014+8D5D038( 5CD+,( 5( .0H2+830-( +,EMD038( /0D2
/20H2(D2+(/23.+(H38-0D038(6D5,D+-G(@H.+,3606(3C(D2+(D066E+(83/(6EM+,[
L+8+6(58-(D2+(6O08(C++.6(J3E8-(-3/8(38(M5.M5D038N(6040.5,(D3(M,31,+6[
60L+(6K6D+40H(6H.+,3606(T-0CCE6+(6K6D+40H(6H.+,3-+,45UG G
+$-".)."0.'.A),)($++$/)(,1.")$:)*",-&
'/)-&".")0,-'"/-.8
@&") .&,%0) ."0,%,-'$/) #"-;""/) -&")2'4
(&"/$'*) ,/*) .(2"%$*"%+$'*) 0&,.".) $:
(&%$/'() gFEH) '.) ,%-'D(',28) @&") -;$
:$%+.)$:)*'.",.")(2",%25)$B"%2,0)'/)+,/5
0,-'"/-.8) d1%-&"%+$%"A) 2'(&"/) 02,/1.>
2'?") :$%+.) $:) gFEH) $((1%) .$$/) ,:-"%
-%,/.02,/-,-'$/8KV) \"(,1.") '++1/$4
+$*12,-'$/),/*)B,%',#'2'-5)'/)&'.-$($+4
0,-'#'2'-5),%")2'?"25)-$)%".12-)'/)*'::"%'/6
(2'/'(,2) "M0%"..'$/) $:) ,22) :$%+.) $:) (1-,4
/"$1.) gFEcA) %'6'*) ,*&"%"/(") -$) -&"
($/("0-)$:)-'+"),.),/),((1%,-")*'.(%'+'4
345678,!O9O ?F("06D3M5D23[
/,/-)$:)-&")0&,.".)$:)gFEH)+,5)/$-)#"
,00%$0%',-"8 .310H( C+5DE,+6( 3C( .0H2+830-( 1,5CD[
L+,6E6[236D(,+5HD038(T*Z"'UG(&M0[
? -+,45.( C+5DE,+6( 3C( .0H2+8( M.58E6
0).342%3+4$4<1'4?'H+&4")*'H#3%",4#.'M&%?3E
5,&.#.E04.3'L,%*3)4"'%?3,&'!$$4<,",)*'N&%".E 5,+( M,+6+8D( /0D2( 5H58D23606N( 2K[
2$%"3%3)4"/ d1225) "B$2B"*) &'.-$2$6'() :",4 M+,1,58E.3606N(2KM+,O+,5D3606N(58-
-1%".) $:) 2'(&"/) 02,/1.) +,5) $((1%) '/ M308D+-( ,+D+( ,0-1+6G( %2+( 08V54[
2'(&"/$'*) (&%$/'() gFEc8) 9/) 6"/"%,2A 45D3,K(08P.D,5D+(08(D2+(EMM+,(-+,[
-&") *"6%"") $:) '/W,++,-'$/) '.) 2"..) '/ 406(06(.+66(08D+86+(D258(08(D2+(DKM[
gFEcA #1-),(,/-&$.'.A)$%-&$&50"%?"%,4 0H5.( H56+( 3C( 0-03M5D20H( .0H2+8
-$.'.A) ;"*6"4.&,0"*) &50"%6%,/12$.'.A M.58E6G( GF( "06D3M5D23.310H( C+5[
.&,%025) 0$'/-"*) %"-") %'*6".A) #,.,2) B,(14
DE,+6(3C(6H.+,3-+,430-(*Z"'G(%2+
$2'7,-'$/A) /"(%$-'() "0'*"%+,2) ("22.A) ,/*
+M0-+,406( 623/6( 40.-N( H34M5HD
+"2,/$0&,6".)'/)-&")100"%)*"%+'.)(&,%4
,(-"%'7") -&") :1225) "B$2B"*) 2".'$/) <d'68 2KM+,O+,5D3606(58-(O+,5D3D0H(M.E1[
IQ4QG=8)@&")$/25)*'.-'/(-'$/)#"-;""/), 1081G(%2+,+(06(2K5.080I5D038(3C(D2+
2'(&"/$'*) (&%$/'() gFEc) ,/*) ,(1-" H3..51+8( D2,3E123ED( D2+( -+,406
gFEc 2'".) '/) %"($6/'-'$/) $:) -&") 2'(&"/ /0D2( .366( 3C( D2+( 5MM+8-51+5.
02,/1.>2'?")"0'*"%+,2)(&,/6".A)#"(,1." G 6D,EHDE,+6G !=:
#$-&)"/-'-'".),%")($/.'*"%"*)-$)%"0%"."/- +'2*) ;'-&$1-) "B$21-'$/) -$) 6%,*") K) $% *".0'-") '/'-',2) /$/4.0"('D() &'.-$0,-&$4
'/-"%:,(")*"%+,-'-'*".8 6%,*")R)gFEc8)O.")$:)-%,/.02,/-.)+$*'4 2$6'()(&,/6".A)%".,+02'/6)'.)B"%5)&"20:12A
!(2"%$*"%+$'*) (&%$/'() gFEc) *'.4 D"*)#5)-&"),*+'/'.-%,-'$/)$:)(5(2$.0$%4 #"(,1.")*',6/$.-'()(&,/6".)"B$2B"),.)-&"
02,5.) -&'(?"/"*) #1/*2".) $:) ($22,6"/ '/") ,/*) 9dL4 ) %".12-.) '/) "%10-'$/.) -&,- %,.&)"B$2B".8
;'-&) 2$..) $:) '/-"%.-'(".A) "/-%,0+"/-) $: ($+#'/") -&") &'.-$2$6'() :",-1%".) $:) , H".0'-") .$+") *'.-'/61'.&'/6) (2'/'(,2
"((%'/")($'2.A),/*)0%$6%"..'B")2$..)$:)0'4 gFEc) ,/*) "(7"+,-$1.) *"%+,-'-'.A) ,. :",-1%".A) ,(1-") ,22$6"/"'() (1-,/"$1.
2$."#,("$1.) 1/'-.) <."") d'68) IQ4Q\=8) @&" "B'*"/("*) #5) +$%") +,%?"*) "M$(5-$.'. gFEc)2,(?.),#.$21-"25).0"('D()D/*'/6.8
*"%+,24"0'*"%+,2) `1/(-'$/) '.) '22) *"D/"* ,/*)'/-"%("2212,%)"*"+,8CX ]-&"%) *',6/$.-'() ($/.'*"%,-'$/.) '/(21*"
;'-&) #,.,2) B,(1$2'7,-'$/) ,/* +"2,/$4 ,)*%16)&50"%."/.'-'B'-5)%",(-'$/),/*),)B'4
0&,6".8)L"(%$-'()"0'*"%+,2)("22.),%")%,%"8 %,2) "M,/-&"+8) H'::"%"/-',-'$/) $:) .-,6") R
'+.5D+-($2K60H5.(B08-0816
O/2'?") '/) .(2"%$*"%+,A) -&") 0%$6%"..'$/ (1-,/"$1.) gFEc) :%$+) -$M'() "0'*"%+,2
$:) ($22,6"/) ,2-"%,-'$/) '/) .(2"%$*"%+$'* G2-&$16&) -&") .?'/) '.) -&") ",%2'".-) ,/* /"(%$25.'.);,.)*'.(1.."*)",%2'"%8)9/),**'4
gFEc) '.) :%$+) -&") 0,0'22,%5) *"%+'. +$.-) ($++$/25) '/B$2B"*) $%6,/) '/ -'$/A)'/).$+")0,-'"/-.),)0$$%25)(&,%,(-"%4
*$;/;,%*8[) f,//'(12'-'.) '.) ,/) 1/($+4 gFEHA) 2'B"%) ,/*) 6,.-%$'/-".-'/,2) *'.4 '7"*) (1-,/"$1.) "%10-'$/) .""+.) -$) $((1%
+$/)D/*'/68 ",.") ,%") :%"31"/-a) -&") 0%"."/(") $:) "2"4 ,-) -&") -'+") $:) +,%%$;) "/6%,:-+"/-) #1-
B,-"*) -$-,2)#'2'%1#'/)2"B"2.) ,/*) *',%%&", #":$%")-&"),00",%,/(")$:)0"%'0&"%,2)25+4
A#*4.%$' 0).342%3+4$4<1' 4?' H+&4")*' H#3%",E $:-"/) ,'*.) '/) ".-,#2'.&'/6) -&") *',6/$.'. 0&$(5-".8)@&'.)"%10-'$/)*"B"2$0.)#":$%"
4#.'M&%?3E5,&.#.E04.3'L,%*3)4"'%?3,&'!$$4<,E ;&"/).?'/)D/*'/6.),%")/$-).0"('D(8)9.$4 *,5)CR),:-"%)-%,/.02,/-,-'$/),/*)($/.'.-.
",)*'N&%".2$%"3%3)4"/ !0"('+"/.) $:) $%,2 2,-"*) 2'B"%) $%) 6,.-%$'/-".-'/,2) '/B$2B"4 $:)B,%',#25)*'.-%'#1-"*)"%5-&"+,-$1.)+,(4
+1($.,),/*)+'/$%).,2'B,%5)62,/*.)+,5 +"/-)'.)1/($++$/8)c"-%$.0"(-'B"),/,24 12".8 9-) .&$12*) /$-) #") ($/:1."*) ;'-&) ,
,'*)'/)-&")*',6/$.'.)$:)(&%$/'()gFEH8KZ 5.'.)$:),)2,%6")."%'".)$:)0,-'"/-.)%"B",2"* gFEcA) #"(,1.") -&'.) q"/6%,:-+"/-r) $%
9/-"%:,(") (&,/6".) ,2$/6) -&") "0'-&"2'1+ -&,-) -&") "M-"/-) $:) -&") (1-,/"$1.) "%104 q(5-$?'/"4%"2",."r) "%10-'$/) (2",%25) $(4
+,5)$((1%A)#1-)6"/"%,225);'-&$1-),..$4 -'$/A)-$-,2)#'2'%1#'/)B,21"A),/*).-$$2)$1-4 (1%.)B"%5)",%25),/*);'-&$1-),)*'.("%/'#2"
(',-"*) ,(,/-&$.'.) ,/*) $-&"%) "0'*"%+,2 01-) 0"%) *,5) 0%$B'*"*) .'6/'D(,/-) 0%$64 %'.") '/) -&") /1+#"%) $:) 0"%'0&"%,2) 2"1?$4
:",-1%".) $:) 2'(&"/$'*) (&%$/'() gFEc) '/ /$.-'() '/:$%+,-'$/) ;&"/) ($/.'*"%"* (5-".)<\$M)IQ4C=8
-&") .?'/8) !'+'2,%) -$) -&") (&,/6".) '/ ."0,%,-"25)$%)-$6"-&"%8K[ _&,-) '.) -&") %$2") $:) -&") #'$0.5) .0"('4
!`z6%"/p.) .5/*%$+"A) 25+0&$(5-".) '/D24 ](12,%) ,/*) $%,2) '/B$2B"+"/-) +,5) $(4 +"/v)9-)'.)",.'"%)-$)".-,#2'.&),)*',6/$.'.
-%,-")62,/*12,%)"2"+"/-.)$:)-&").,2'B,%5 (1%) '/) -&") ,(1-") 0&,.") #1-) '.) 2"..) ($+4 $:)gFEc)-&,/)-$)"M(21*")*%16)"%10-'$/
62,/*.A) ;'-&) 0%$6%"..'B") *".-%1(-'$/ +$/) -&,/) '/) (&%$/'() gFEH8) ]%,2) '/4 ,/*)B'%,2)"M,/-&"+):%$+)($/.'*"%,-'$/8
,/*) 2$..) $:) ,('/'8) ^,(%'+,2) 62,/*.) ,%" B$2B"+"/-)'.)-50'(,2)'/)(&%$/'()(1-,/"$1. @&") (,1.".) -&,-) +,5) 1/*"%2'") 6%,*") C
.,+02"*) 2"..) $:-"/) #1-) .&$;) .'+'2,% gFEHA) (&,%,(-"%'7"*) #5) ;&'-") 2,(5 (&,/6".) 6"/"%,225) *":5) '*"/-'D(,-'$/8) 9-
(&,/6".8 0,-(&".) $/) -&") #1((,2) +1($.,8) c,%") 0,4 '.) .1:D('"/-) -$) %"0$%-) q/$-) gFEHr
-'"/-.) *'.02,5) $%,2) (&,/6".) $/258) !'((, %,-&"%)-&,/)-$).0"(12,-"),#$1-)-&")(,1."
?>6C8, >6C?B8D6$, 57?3C9W87$6$9ID$C .5+0-$+.) %"."+#2'/6) !`z6%"/p.) .5/4 ;&"/) $#`"(-'B") (%'-"%',) ,%") 2,(?'/68
78?>C4DB, ?3C87, ?6CD@D5D6$, ?B-, $RB9 *%$+") $:-"/) ,(($+0,/5) -&") .(2"%$*"%4 E$2*'/6) -$) -&") .-,/*,%*) $:) ,/) '/D2-%,-"
58B84>, S?77DX, ?B-, A874AI87?@, $C8S +$'*)0&,.")#"(,1.")$:)*'+'/'.&"*)2,(%'4 $:) 25+0&$(5-".A) #,.,2) B,(1$2'7,-'$/A
>8@@,C7?B$A@?BC?C4DB ,S%5-&"+,-$1. +,2) ,/*) .,2'B,%5) $1-01-8) 9/) ("%-,'/ ,/*),-)2",.-):$1%)/"(%$-'()"0'*"%+,2)("22.
+,(12".),/*)0,012".),00",%)'/)B,%',#2" 0,-'"/-.);'-&)-&")(&%$/'():$%+)$:)(1-,/"4 0"%)+'22'+"-"%)$:)"0'*"%+'.)&"20.)-$)*'4
2$(,-'$/.),/*)*'.-%'#1-'$/.),-)-&")-'+" $1.) gFEHA) -&") +,'/) ,/,-$+'() .'-") $: +'/'.&) -&") "::"(-.) $:) -&") 0%"0,%,-'B"
$:)0"%'0&"%,2)25+0&$(5-")%"($B"%5),/* ($22,6"/),2-"%,-'$/)'.):,.(',28)@&'.):,.(''-'. %"6'+"/) ,/*) &"'6&-"/) -&") .0"('D('-5A
,%")."2:42'+'-"*8)c".$21-'$/);'-&)*".4 '.) .'+'2,%25) *"#'2'-,-'/6) ,/*) '.) .166".-"* ,/*) -&1.) -&") .'6/'D(,/("A) $:) -&") &'.-$4
31,+,-'$/) $((1%.) ;'-&$1-) -&"%,058 '/)0,-'"/-.)'/);&$+)-&").?'/).""+.).104 2$6'() (&,/6".8) @&'.) .-,/*,%*) .&$12*) #"
!-,6")C),/*).-,6")I)*'.",.")'.)+$.-)($+4 02") #1-) -&") *""0"%) .$:-) -'..1") '.) &,%*8 1."*)'/)*',6/$.-'()*"%+,-$0,-&$2$65),.
+$/),:-"%)-&"),*+'/'.-%,-'$/)$:)(5(2$4 j$'/-)($/-%,(-1%")'.)31'-")($++$/)'/)-&'. ;"22),.)'/)0%$.0"(-'B"),/*)%"-%$.0"(-'B"
.0$%'/"A);&"%",.).-,6")K)*'.",.")'.)($+4 6%$10)$:)0,-'"/-.8 '/B".-'6,-'$/.) $:) -&") .0"('D('-5) $:) -&"
+$/),:-"%)-&"),**'-'$/)$:)9dL4 ),/*)'. &'.-$2$6'() (&,/6".) $:) ,(1-") (1-,/"$1.
,(($+0,/'"*)#5).'6/'D(,/-)0%1%'-1.8 gFEc8) G2-&$16&) '-) '.) /$-) *$(1+"/-"*
!-,6") R) *'.",."A) +,/':".-,-'$/.) $: :9#*?<@9@(#?:( '/) -&") 2'-"%,-1%"A) %,%") 0,-'"/-.) *'.02,5
(&%$/'()gFEHA),/*)"M-%,4(1-,/"$1.)'/4 :9BB&'&?%9#=(:9#*?<@9@ ",%25)(2'/'(,2),/*)&'.-$2$6'():",-1%".)$:),
B$2B"+"/-),%")"M(""*'/625)%,%"8)S%5-&4 G/) ,26$%'-&+) $1-2'/'/6) ,/) ,00%$,(&) -$ *%16)&50"%."/.'-'B'-5)%",(-'$/A)'/(21*'/6
%$*"%+,);'-&)&'.-$2$6'():",-1%".)$: -&") 0,-'"/-) ;'-&) (1-,/"$1.) gFEH) '. "$.'/$0&'2.) '/)-&")-'..1"A) $/25) -$) +,/'4
.0$/6'$-'()*"%+,-'-'.)$((1%.)1/($+4 .&$;/)'/)d'68)IQ4[8 :".-) -50'(,2) &'.-$0,-&$2$6'() :",-1%".) $:
+$/25),:-"%) '/:1.'$/)$:) 1/+$*'D"* @&") *',6/$.'.) $:) ,(1-") (1-,/"$1. 6%,*") I) gFEc) Z) -$) CX) *,5.) 2,-"%A) ,:-"%
-%,/.02,/-.)#1-)'.)6"/"%,225)0"%.'.-"/- gFEc)%".-.)$/)-&")($+#'/,-'$/)$:)(2'/'4 "/6%,:-+"/-8) ]/(") ,22$6"/"'() 25+0&$4
,/*)*':D(12-)-$)-%",-8 (,2)D/*'/6.A)'/(21*'/6)-&")$/."-) $:)B,%'4 (5-".)0%"*$+'/,-"),/*)'/D2-%,-")-&").'-"
9/:1.'$/) $:) 1/+$*'D"*) ,1-$2$6$1. ,#25) *'.-%'#1-"*) "%5-&"+,-$1.) +,(12". $:)0%'$%)'/W,++,-'$/A)"::"(-$%):1/(-'$/
-%,/.02,/-.) %".12-) '/) "%10-'$/.) -&,-) ,%" ,/*) 0,012".) ,-) -&") -'+") $:) 0"%'0&"%,2 (&,/6".A) ;&'(&) ,22$;.) "M0%"..'$/) $:
&'.-$2$6'(,225) '/*'.-'/61'.&,#2") :%$+ 25+0&$(5-") %"($B"%5) <6"/"%,225) 2$/6"% gFEc8
-&$.") $:) 25+0&$(5-") %"($B"%58KQ) @&" -&,/)CX)-$)CR)*,5.),:-"%)-%,/.02,/-,-'$/=A J$/-%$B"%.5) "M'.-.) %"6,%*'/6) -&") 1."
,*+'/'.-%,-'$/)$:)(5(2$.0$%'/")%".12-.)'/ ,/*) ,) +'/'+1+) $:) 6%,*") I) &'.-$0,-&$4 ,/*)-'+'/6)$:).?'/)#'$0.5)-$),'*)'/)-&")*'4
.$+") (1-,/"$1.) "%10-'$/.) -&,-) &'.-$4 2$6'() (&,/6".8) \"(,1.") .-,6") C) *'.",." ,6/$.'.)$:),(1-")(1-,/"$1.)gFEH8)!$+"
0,-&$2$6'(,225) %"."+#2") 6%,*") I) ,(1-" 6"/"%,225) '.) /$-) -%",-"*A) "%10-'$/.) ;'-& (2'/'(',/.):""2)-&,-);'-&&$2*'/6)-%",-+"/-
(1-,/"$1.)gFEc),:-"%),22$6"/"'()-%,/.4 2'+'-"*) *'.-%'#1-'$/) +,5) /$-) ;,%%,/- ;&'2") ,;,'-'/6) %".12-.) $:) ,) #'$0.5) (,/
02,/-,-'$/A) #1-) -&") D/*'/6.) ,%") 1.1,225 .,+02'/68)9:)"%10-'$/.)0"%.'.-)$%)0%$6%".. 0$-"/-',225) 2",*) -$) %,0'*) 0%$6%"..'$/) $:
!=;
345678,!O9# #MM,35H2(D3(D2+(M5D0+8D(/0D2(+,EMD038(5CD+,(5..31+8+0H(2+45D3M30+D0H(D,586M.58D5D038G(A@#(p(J3-K(6E,C5H+(5,+5G
#*+&'1('
G+*&)3*$)'-.'<%>)*'O+&.)6Q*+,>,69-,)'2#,*&,*
CDA4>?@ AIR$4>?@ $R$C8S4>
B0,6D !3,D0H36D+,30-6 $63,5.+8(M.E6(E.D,5L03.+D(# !3,D0H36D+,30-6[;+D2K.M,+-[ )(41sO1s-5KXc
=08+ 8063.38+
@+H38- &FD,5H3,M3,+5.(M23D3M2+,+606 )(H386+HED0L+(-5K6(Q)/O %5H,3.04E6 _])h(41s-5KXf
=08+ R.D,5L03.+D(#`(Td_h]_hh(84U !KH.36M3,08+ `)]`X(41sO1s-5K($<(
3,(d]X(41sO1s-5K(9ZXb
;KH3M2+83.5D+(43C+D0. )(1s-5KXa
#8D0D2K43HKD+(1.3JE.08 `X(41sO1s-5Kch
&D58+,H+MD )X(41(J0/_X
98V0F045J `h(41sO1s/O_c
<e%d(T58D0(!:d(4#JU X(41s-5Kc`
!==
#*+&'1(,
G+*&)3*$)'-.'!1+-$#%'O+&.)6Q*+,>,69-,)'2#,*&,*
CDA4>?@ AIR$4>?@ $R$C8S4>
B0,6D(=08+ !3,D0H36D+,30-6 $63,5.+8(M.E6(E.D,5L03.+D(# $,+-80638+ `(41sO1(Q-]Q3-c)
!KH.36M3,08+ `h(41sO1(08()(-0L0-+-(-36+6(Q-[Q3-c)
@+H38- %5H,3.04E6 R.D,5L03.+D(#`(Td_h]_hh(84U )h(7sH4)(Q0/cd ;+D23D,+F5D+ fGX(41s4)s/Oc_
=08+ R.D,5L03.+D(A ;KH3M2+83.5D+(43C+D0. )(1s-5K
&FD,5H3,M3,+5.(M23D3M2+,+606 )(H386+HED0L+(-5K6( %5H,3.04E6 hGhX(41sO1(9Z(3,(hG`X41sO1($<(J0-cc
Q)/OcX %25.0-340-+ )hh]bhh(41s-5Kcf
#I5D203M,08+ `GX(41sO1s-5Kcb
"K-,3FKH2.3,3QE08+ bhh(41s-5K(T`)(41sO1s-5KUca
#H0D,+D08c)
-$) %"B"%.") -&") (1-,/"$1.) (&,/6".) '/ 2'.&"*) *'.",.") '.) *':D(12-A) ,/*A) ,.) 0%"B'4
e&>('&B&'&?!&@
.(2"%$*"%+$'*) *'.",."8) SM-%,($%0$%",2 $1.25) +"/-'$/"*A) 0%'$%) ,(1-") gFEH) '.
0&$-$0&"%".'.)&,.)0%$B"/)#"/"D(',2)'/ -&") 6%",-".-) 0%"*'(-$%) :$%) -&") *"B"2$04 %2+(CE..(,+C+,+8H+(.06D(C3,(5..(H25MD+,6(
#$-&)2'(&"/$'*),/*).(2"%$*"%+$'*).-"%4 +"/-)$:)(&%$/'()gFEH8V)@&%"")0%$0&54 06(5L50.5J.+(5D(///G-014fGH34G(
$'*4%".'.-,/-)(&%$/'()gFEH8NRANN 2,(-'().-%,-"6'".),%")1."*U)$0-'+,2)*$/$%
K8 P'22"%)l\)"-),2U)G)/$B"2)%"*1("*)'/-"/.'-5
."2"(-'$/A) 0%"4-%",-+"/-) +,/'012,-'$/ %"6'+"/) :$%) ,22$6"/"'() &"+,-$0$'"-'(
$:) *$/$%) +,%%$;) $%) .-"+) ("22.A) ,/* .-"+)("22)-%,/.02,/-,-'$/),..$(',-"*);'-&),
#HED+(!ED58+3E6( 0&,%+,($0%$0&52,M'.8) 9*",225A) -&") *$4 %"*1("*)'/('*"/(")$:)6%,:-4B"%.1.4&$.-)*'.4
*,5CD[Z+,6E6["36D('+5HD038( /$%) .&$12*) #") ,) 5$1/6A) ."M4+,-(&"*A ",."8 F8)!'<&,,8R'H,&)05*&)4 !!UQQCA)IXXR
N8 E$%/)@H)"-),2U)J1-,/"$1.)"%10-'$/.)$:
5CD+,(#ED3.313E6(58-( &1+,/) 2"1?$(5-") ,/-'6"/>'*"/-'(,2) .'#4
25+0&$(5-") %"($B"%58) E,"6' @!,%&48*
@K81+8+0H(%,586M.58D5D038 2'/6) $%) +$/$756$-'() -;'/8) f%$0&52,(-'( %&)UCNCIA)C[Q[
-%",-+"/-) $:) ,22$6"/"'() *$/$%) +,%%$; Q8 E$$*) Gd) "-) ,2U) G(1-") 6%,:-4B"%.1.4&$.-
L$) .'6/'D(,/-) +$%#'*'-5) '.) ,..$(',-"* -$) *"02"-") "::"(-$%) @) ("22.) '.) ,2.$) "::"(4 *'.",."U)H"B"2$0+"/-):$22$;'/6),1-$2$4
;'-&) ,1-$2$6$1.) gFEcA) ,/*) -&") (1-,4 -'B") '/) 0%"B"/-'/6) ,/*) %"*1('/6) -&") ."4 6$1.),/*).5/6"/"'()#$/")+,%%$;)-%,/.4
02,/-,-'$/8 E,"6'@!,%&48* %#!UZRNA)C[QZ
/"$1.) "%10-'$/.) %".$2B") ;'-&$1-) -&"%4 B"%'-5) $:) ,(1-") gFEHa) &$;"B"%A) -&'. CI8 g'22',+)GJ)"-),2U)G0$0-$.'.)'.)-&")0%"*$+4
,058) f,-'"/-.) ;'-&) "%5-&%$*"%+,) ,:-"% +,/'012,-'$/) &,.) #""/) ,..$(',-"*) ;'-& '/,/-):$%+)$:)"0'-&"2',2)-,%6"-)("22)'/`1%5)'/
,1-$2$6$1.) .-"+) ("22) -%,/.02,/-,-'$/ ,/)"2"B,-"*)%'.?)$:)-1+$%)%"(1%%"/("),/* ,(1-") "M0"%'+"/-,2) 6%,:-4B"%.1.4&$.-) *'.4
+,5)%"31'%").5.-"+'()621($($%-'($'*.)-$ 6%,:-) :,'21%"8) F,%'$1.) 0&,%+,($2$6'( ",."8 D'J)L!04'@!,%&48* %&$UKZZA)C[[V
KX8 E$%/)@H)"-),2U)c",00%,'.,2)$:)&'.-$2$6'(
($/-%$2) -&") '/-"/.") '-(&'/6) -&,-) ,(($+4 0%$0&52,(-'() %"6'+"/.) ,%") 6"/"%,225
:",-1%".) $:) -&") ,(1-") (1-,/"$1.) 6%,:-4
0,/'".) -&") "(7"+,-$1.) (&,/6".) .""/ 1."*)'/)-&")0$.-4-%,/.02,/-,-'$/)0"%'$*A B"%.1.4&$.-)%",(-'$/)#,."*)10$/),/),22$4
&'.-$2$6'(,2258 '/(21*'/6) ($+#'/,-'$/.) $:) +"-&$-%"M4 6"/"'() %$*"/-) +$*"28) D' J)L!04' @!,%&48*
,-"A)-,(%$2'+1.A)(5(2$.0$%'/"A),/*)(5(2$4 %&&UNRV,A)C[[K
0&$.0&,+'*"8) \"(,1.") $:) '+0%$B"* RZ8 _"-7'6)@)"-),2U)P"*'1+)*$.")2$/64;,B"4
$'&Z&?%9<? -%",-+"/-)$:)gFEHA)-&"%")'.)'/(%",.'/6
2"/6-&)12-%,B'$2"-)G)<OFGC=)0&$-$-&"%,05
:$%) -&") -%",-+"/-) $:) ,(1-") ,/*) (&%$/'(
G--"+0-.) -$) 0%"B"/-) ,(1-") gFEH) ,%" 1.")$:)PEJ4+'.+,-(&"*),/*)1/%"2,-"* 6%,:-4B"%.1.4&$.-)*'.",.")$:)-&").?'/8)F8)!
".."/-',2A) #"(,1.") -%",-+"/-) $:) ".-,#4 *$/$%.8 <&,,8R'H,&)05*&)4 !)UNCNA)IXXN
!"#$%&'()a +1/$.100%"..'$/)'/*1("*)#5)*%16.A)($/4
*'-'$/.) .1%%$1/*'/6) #$/") +,%%$;) -%,/.4
@&") *'B"%.'-5) $:) (1-,/"$1.) '/:"(-'$/.
-&,-)$((1%)'/) '++1/$.100%".."*)0,-'"/-.
02,/-,-'$/A) ,/*) &"+,-$2$6'() +,2'6/,/(58 (,/)0$."),).'6/'D(,/-)*',6/$.-'()(&,22"/6"8
!?'/) +,/':".-,-'$/.) $:) E9F) *'.",.") ,%" @$),'*)'/)"B,21,-'$/A)'-)'.)&"20:12)-$)1/*"%4
$Y*U,-*1%/1%,*U, *".(%'#"*) '/) J&,08) C[Q8) ]-&"%) (&,0-"%. .-,/*) -&") 1/*"%25'/6) '++1/") *":"(-.) ,.4
($B"%)6%,:-4B"%.1.4&$.-)*'.",.")<."")J&,08 .$(',-"*) ;'-&) -&") +"*'(,2) ($/*'-'$/.) $:
?+Q0%,/UV,>)('U*+, IQ=A) .?'/) .'6/.) ,..$(',-"*) ;'-&) 0%'+,%5 ",(&) 0,-'"/-) <@,#2") I[4C=A) ;&'(&) &"20.) -$
'++1/$*"D('"/(5) *'.$%*"%.) <."") J&,08 :$(1.) -&") &'.-$%5) -,?'/6) ,/*) 0&5.'(,2) "M4
4..QU'1QTT(%11*'U CRR=A) ,/*) .'*") "::"(-.) $:) (,/("%) (&"+$4 ,+'/,-'$/) -$;,%*) .?'/) +,/':".-,-'$/.) $:
-&"%,0"1-'() ,6"/-.) ,/*) (5-$?'/".) <."" .0"('D()0,-&$6"/.8)@&'.)(&,0-"%)'.)*'B'*"*
=K8-5(e5E.6 J&,0.8)IIQA) IKRA) ,/*) IKN=8)\"(,1.")%"2,4 '/-$)-;$)+,`$%).1#."(-'$/.)#,."*)$/)-&'.
#8-,+/(A.5EL+.D -'B"25) :";) .?'/) *'.",.".) +,/':".-) "M(214 ($/("0-U) ,(1-") '++1/$.100%"..'$/) ,/*
.'B"25)'/)'++1/$.100%".."*)&$.-.A)+,/5 (&%$/'() '++1/$.100%"..'$/8) _&"/) 0,4
($/*'-'$/.)*'.(1.."*)'/)-&'.)(&,0-"%)$((1% -'"/-.),%"),(1-"25)'++1/$.100%".."*A)1.14
@&'.) (&,0-"%) :$(1.".) $/) *"%+,-$2$6'( '/)'++1/$($+0"-"/-)'/*'B'*1,2.),.);"228 ,225) :%$+) ',-%$6"/'() ,#2,-'$/) $:) -&") '+4
+,/':".-,-'$/.)'/)'++1/$.100%".."*)0,4 !,2'"/-) (2'/'(,2) :",-1%".) 0,%-'(12,%25) ,..$4 +1/") .5.-"+) $%) :%$+) ,(1-") 2"1?"+',A
-'"/-.);'-&$1-)&1+,/)'++1/$*"D('"/(5 (',-"*) ;'-&) '++1/$.100%"..'$/) ,%")"+4 '/:"(-'$/.) $((1%) -&,-) ,%") /$%+,225) ($/4
B'%1.) <E9F=) *'.",."A) 0%"*$+'/,/-25) '+4 0&,.'7"*)&"%"8 -%$22"*) #5) /"1-%$0&'2.) ,/*) +,(%$0&,6".8
!=E
$%6,/'.+) <@,#2") I[4I=8) @&'.) +,?". (',2) W1.&'/6A) ,) ;'*".0%",*) "%5-&"+,4
@e9?(:9@&#@&( 0%$+0-)(2'/'(,2)"B,21,-'$/),/*)"M-"/.'B"
1.")$:).?'/)#'$0.5),/*)(12-1%")/"("..,%5
-$1.) "%10-'$/) $:) +,(12".) ,/*) 0,012".A
,/*) *".31,+,-'$/) $:) -&") 0,2+.) ,/*
9?(#!R%&( -$) +,?") ,/) ,((1%,-") *',6/$.'.) ,/*) '/'4
-',-")0%$+0-)-%",-+"/-)-$)$#B',-").'6/':4
.$2".8) !-,0&52$($((,2) .(,2*"*4.?'/) .5/4
*%$+"A) ;&'(&) -50'(,225) $((1%.) '/) (&'24
#?:(!"'<?9!( '(,/-)+$%#'*'-5),/*)+$%-,2'-58 *%"/) <."") J&,08) CZQ=A) (,/) $((1%) '/) '+4
+1/$.100%".."*),*12-.8V
9;;R?<[ #!R%&(9;;R?<@R$'&@@9<?
S(-&5+,) 6,/6%"/$.1+) '.) -&") +$.-
(&,%,(-"%'.-'()2".'$/)$:):0!9.8%8)&0)."04
A5HD+,05.(98C+HD0386
SR>DG?>C874?@,4B38>C4DB$ <!"") J&,08
CQR= G-50'(,2) +5($#,(-"%',) ,%") 1#'31'4
-$1.) $%6,/'.+.) :$1/*) '/) .$'2) ,/*) ;,-"%8
@&") +$.-) ($++$/) $%6,/'.+.) '/) -&'.
6%$10)'/(21*") <7"8/&"4!,+9%' %&,+)9%A <1
"6!*8)&!A <1'=8,49+49%A <1'?&)0&0++A <1'6&!;
%856+*9%A) ,/*) <1' &L+9%;+)4,&"!**9*&,!8) \"4
:$%")-&")"0'*"+'()$:),(31'%"*)'++1/$4
*"D('"/(5).5/*%$+")<G9H!=A)+$.-)(,.".
$((1%%"*) '/) 0"%.$/.) ;'-&) 1/*"%25'/6
345678,!#9< :066+4085D+-(L5,0H+..5(08(5(M5[ 012+$/,%5)*'.",."8)E$;"B"%A)+5($#,(4 345678,!#9E !6/*B"/4%1'0)-/9%#*:"%(08C+H[
D0+8D(5CD+,(08-EHD038(H2+43D2+,5MKG -"%',2)'/:"(-'$/.),:-"%)-%,/.02,/-,-'$/),%" D038( 08( 5( M5D0+8D( ,+H+0L081( .381[D+,4N( 2012[-36+
'/(%",.'/6) '/) :%"31"/(5) ,/*) ."B"%'-5A
1.EH3H3,D0H30-(D,+5D4+8DG
-%,/.02,/-,-'$/)'.)%,%"25)0%'+,%5)#1-)+$%" ;'-&)-&")&'6&".-)'/('*"/(")'/)%"('0'"/-.
$:-"/) %"0%"."/-.) %",(-'B,-'$/) $:) 2,-"/-) B'4 $:) &"+,-$0$'"-'() .-"+) ("22) -%,/.02,/-.8 B"%'-5) $:) *'.",."A) ,/*) 0%"."/(") $%
%1.8)9/)-&'.)."--'/6A)0,-'"/-.),%"),-)'/(%",."* @&".") 0,-'"/-.) 1.1,225) 0%"."/-) ;'-& ,#."/(")$:)1/*"%25'/6)'++1/")*":"(-.8
%'.?):$%)#$-&).?'/),/*).5.-"+'()*'.."+'/,4 (,-&"-"%4%"2,-"*) '/:"(-'$/.A) ,2-&$16& <1' 49/!,"9*80+0) '/:"(-'$/) '.) ,) ($++$/
-'$/)$:)B'%1.)<d'68)I[4N=8)]:)/$-"A)#":$%")-&" .?'/) 2".'$/.) ,%") %,%") '/) -&'.) 0$012,-'$/8 ;$%2*;'*") 0%$#2"+A) ".0"(',225) '/) '/*'4
1.")$:),/-'&"%0".B'%1.)0%$0&52,M'.)'/)(&'24 !?'/) '/B$2B"+"/-) '.) -&") +$.-) ($+4 B'*1,2.);'-&)'+0,'%"*)'++1/'-58)d$%)"M4
*%"/);&$)&,*)25+0&$+,)$%),(1-")2"1?"4 +$/25)%"0$%-"*)+,/':".-,-'$/)$:)/$/-14 ,+02"A) '/*'B'*1,2.) %"("'B'/6) &'6&4*$."
+',) $%) 1/*"%;"/-) #$/") +,%%$;) -%,/.4 #"%(12$1.) +5($#,(-"%',2) '/:"(-'$/.) '/ ($%-'($.-"%$'*.) ,%") 0%$/") -$) ,(-'B") 0124
02,/-,-'$/A)0%'+,%5)B,%'("22,);,.),)(2,..'( .$2'*)$%6,/)%"('0'"/-.)"M("0-)21/6)-%,/.4 +$/,%5) -1#"%(12$.'.8) J1-,/"$1.) -1#"%4
$00$%-1/'.-'() '/:"(-'$/) ,..$(',-"*) ;'-& 02,/-)%"('0'"/-.A);&$),%")+$%")2'?"25)-$ (12$.'.) '.) 1.1,225) +$%") ($++$/) '/) -&"
+$%-,2'-5)%,-".)$:)Z)0"%("/-)-$)KX)0"%("/-8 &,B")012+$/,%5)'/B$2B"+"/-8)P,/':".4 ."--'/6) $:) '++1/$.100%"..'$/8) !0"('D4
-,-'$/.) '/(21*") #$-&) 2$(,2'7"*) ,/*) *'.4 (,225A) .(%$:12$*"%+,) <-1#"%(12$1.) 25+4
."+'/,-"*)(1-,/"$1.)*'.",."8IV)G-50'(,2 0&,*"/'-'.) ;'-&) "M-"/.'$/) -$) $B"%25'/6
!"'<?9!(9;;R?<@R$$'&@@9<? +5($#,(-"%',2)'/:"(-'$/.)'/)-&").?'/),%" .?'/=) ,/*) /1+"%$1.) (1-,/"$1.) 2".'$/.
f,-'"/-.) ;'-&) (&%$/'() '++1/$.100%".4 (&,%,(-"%'7"*) #5) *'B"%.") +$%0&$2$6'".A $:)+'2',%5)-1#"%(12$.'.)+,5)$((1%)+$%"
.'$/) '/(21*") -&$.") -&,-) ,%") ',-%$6"/'(,225 '/(21*'/6) %"**'.&) #%$;/) /$*12".) ,/* ($++$/25) '/) 0,-'"/-.) ;'-&) 1/*"%25'/6
'++1/$.100%".."*) #"(,1.")-&"5),%") -,?4 02,31".)<d'68)I[4V=A),#.("..".)<d'68)I[4Z=A '++1/")*":"(-.8
'/6) +"*'(,-'$/.) -&,-) '+0,'%) -&") '++1/" ,/*) 12("%.8IV <1' &L+9%;+)4,&"!**9*&,!) ,/*
.5.-"+) ,/*) -&$.") ;'-&) (&%$/'() *'.",.". <1' 6&!%856+*9%) ($++$/25) (,1.") *'.4 BD>?7-4D$4$ <!"")J&,08)CQN= B8"&,.+&
-&,-),%"),..$(',-"*);'-&)'++1/")*5.:1/(4 ."+'/,-"*) '/:"(-'$/A) ;&'(&) (,/) '/B$2B" .08),%")1#'31'-$1.)D2,+"/-$1.)#,(-"%',
-'$/A).1(&),.)*',#"-".)+"22'-1.8)@&")0$014 -&") 21/6.A) 25+0&) /$*".A) 2'B"%A) .02""/A :$1/*)'/).$'28)B1'&04!,8+.!0)'.)-&")+$.-
2,-'$/)$:)0,-'"/-.);&$),%")-,?'/6)'++1/$4 #$/")+,%%$;A),/*).?'/8)]%6,/'.+.)(,/ ($++$/).0"('".),..$(',-"*);'-&)&14
.100%"..'B") +"*'(,-'$/.) $B"%) -&") 2$/6 #")'*"/-'D"*)#5).0"(',2).-,'/.)$%)#5)(124 +,/)*'.",."a)&$;"B"%A)B1'/,&0+*+!)0+0
-"%+)'.)6%$;'/6),.).$2'*)$%6,/)-%,/.02,/-,4 -1%") $:) .0"('+"/.) :%$+) ,::"(-"*) .?'/8 (,/)#").""/) '/) -&").$1-&"%/)O/'-"*
-'$/) #"($+".) ,) -&"%,0"1-'() $0-'$/) :$% !0"('D() ,/-'+5($#,(-"%',2) ,/-'#'$-'( !-,-".),/*)'.) +$%")$:-"/),..$(',-"*
+,/5) &1+,/) *'.",.".8) @&") $B"%,22) '/('4 -%",-+"/-)%"6'+"/.),%")($+02"M),/*)*"4 ;'-&)0%'+,%5)(1-,/"$1.)*'.",."8)B1'=&,;
*"/(") $:) .$2'*) $%6,/) -%,/.02,/-,-'$/) ($/4 0"/*) $/) -&") +5($#,(-"%',2) .0"('".A) %"4 "+)+"&)'.)2"..)($++$/25)'.$2,-"*)#1-)'.
-'/1".)-$)'/(%",."A),/*)-&").1%B'B,2)$:)0,4 .12-.)$:)."/.'-'B'-5)-".-'/6A)"M-"/-),/*)."4 +$%")2'?"25)-$)(,1.")*'.."+'/,-"*)*'.4
-'"/-.) '/) -&") .&$%-) ,/*) 2$/6) -"%+) &,. ",."),/*)&,.),)&'6&"%)%'.?)$:)*%16)%".'.4
'+0%$B"*8) @&".") '/*'B'*1,2.) %"31'%") 2':"4 -,/("8IZ)9/:"(-'$/)(,/)#").""/)'/)'++14
2$/6) -&"%,05) ;'-&) '++1/$.100%"..'B" /$($+0"-"/-)&$.-.A)#1-)-&")+,`$%'-5)$:
*%16.) -$) +,'/-,'/) :1/(-'$/) $:) -&") -%,/.4 '/:"(-'$/.)'/B$2B")0,-'"/-.);'-&)'+4
02,/-"*) $%6,/8) J5(2$.0$%'/"A) -,(%$2'+1.A +1/")($+0%$+'."A)0,%-'(12,%25).$2'*
.'%$2'+1.A) 0%"*/'.$/"A) +5($0&"/$2,-" $%6,/)$%)#$/")+,%%$;)-%,/.02,/-)%"('04
+$:"-'2A),/*),7,-&'$0%'/")<."")J&,0.8)IIQ '"/-.A)-&$.")%"("'B'/6)2$/64-"%+)($%-'($4
,/*) IKR=) ,%") -&") *%16.) 1."*) +$.-) ($+4 .-"%$'*)-&"%,05A)G9H!)0,-'"/-.A)'/-%,B"4
+$/25) -$) 0%"B"/-) 6%,:-4B"%.1.4&$.-) *'.4 /$1.)*%16)1."%.A),/*)'/*'B'*1,2.);'-&
",."A)0%"*$+'/,-"25)#5)'/&'#'-'/6)("224+"4 (&%$/'()012+$/,%5)*'.",."8)9/)0,%-'(14
*',-"*) '++1/'-5) <'8"8A) @4("22) :1/(-'$/=8IN 2,%A)2$/64-"%+)($%-'($.-"%$'*)1.")*$14
E1+$%,2) '++1/'-5) <'8"8A) \4("22) :1/(-'$/= #2".)-&")%'.?)$:)'/:"(-'$/)'/).1.("0-'#2"
%"+,'/.)%"2,-'B"25)'/-,(-)'/)-&".")0,-'"/-.8 '/*'B'*1,2.8IZ)9/)-%,/.02,/-)0,-'"/-.A)-&"
@&1.A)$00$%-1/'.-'()*'.",.".)'/)+$.-)-%,/.4 +",/)$/."-)$:)'/:"(-'$/)'.)[)+$/-&.),:4
02,/-)0,-'"/-.),%")*$+'/,-"*)#5)B'%,2),/* -"%)-%,/.02,/-,-'$/A),2-&$16&)'-)(,/)$(4
:1/6,2)'/:"(-'$/.A)'/-%,("2212,%)#,(-"%',2)'/4 345678,!#9= !ED58+3E6 !6/*B"/4%1'0) (1%),.)",%25),.)C)+$/-&),:-"%;,%*8)\"4
:"(-'$/.A) ,/*) B'%1.4,..$(',-"*) +,2'6/,/4 "C'0)A':41"/%##0#"1%(08C+HD038(08(5(H20.-(/0D2(58 :$%")-&")1.")$:)(5(2$.0$%'/")-$)0%"B"/-
!E! ('".A) ($/*'-'$/.) -&,-) ,%") ($/-%$22"*) 0%"4 082+,0D+-(08D+,.+EO08(`)(,+H+MD3,(-+PH0+8HKG %"`"(-'$/A)'/:"(-'$/)%,-".);"%")+1(&
9/*'B'*1,2.) ;'-&) 1/*"%25'/6) ($+02"4
+"/-) *"D('"/('".) <2$..) $:) 2,-"40&,."
($+0$/"/-.)JN)-$)J[=)$%),2($&$2'.+),%"
.1.("0-'#2") -$) '/:"(-'$/) ;'-&) B!+00!,+&
%!)+)>+4+.+08KX) f,-'"/-.) &,B") ,(1-") ."0-'4
("+',A) +"/'/6'-'.A) *'.."+'/,-"*) '/-%,4
B,.(12,%) ($,612,-'$/A) ,/*) ;'*".0%",*
0"-"(&',"),/*)01%01%,)<d'68)I[4CX=8
f"%.$/.) ;'-&) 1/*"%25'/6) &"0,-'() *'.4
",.") <($++$/25) ,2($&$2'() ('%%&$.'.) $%
&"+$(&%$+,-$.'.=),%")0%$/")-$)'/:"(-'$/
;'-& K+/,+8' L9*)+I"90A) ,) g%,+4/"6,-'B"
345678,!#9O ?3H5,-03606(08(5(458 #,('221.) ($++$/25) :$1/*) '/) .",;,-"%A
/0D2(1.03J.56D345G .&"22D.&A) (2,+.A) ,/*) $5.-"%.8KC) 9/:"(-'$/
$((1%.)#5)'/6".-'$/)$:)($/-,+'/,-"*).",4
&'6&"%)'/)-%,/.02,/-)%"('0'"/-.A),/*)-&'. G?>4@@?7R,?B54DS?CD$4$ <!"") J&,08 :$$*) $%) #5) *'%"(-) (1-,/"$1.) '/$(12,-'$/
*"(2'/")'.),--%'#1-"*)-$)*"(%",."*)1.")$: CQI= \,('22,%5) ,/6'$+,-$.'.) '.) (,1."* ,:-"%) ($/-,(-) ;'-&) ($/-,+'/,-"*) .",;,4
($%-'($.-"%$'*.8)P$.-)(,.".)$:)/$(,%*'$4 #5) '/:"(-'$/) ;'-&) -&") #,(-"%'1+) F&,; -"%8)f,-'"/-.) (2,..'(,225)0%"."/-);'-&)%,04
.'.)'/)-%,/.02,/-)0,-'"/-.)<QX)0"%("/-)-$ 48)!**&' 6!)0!*&!) $%) F1' P9+)4&)&) ,/*) 1.14 '*25)"B$2B'/6)."0-'("+',),/*)0,'/:12)("24
[X)0"%("/-=)0%"."/-),.)0%'+,%5)012+$4 ,225) $((1%.) '/) G9H!) 0,-'"/-.) ,/*) $-&"% 212'-'.A) #122,"A) $%) 12("%.) $/) -&") 2$;"%
/,%5)*'.",."),/*)*'.."+'/,-'$/)$((1%. '++1/$($+0%$+'."*) &$.-.8I[) J1-,/"4 "M-%"+'-'".)<d'68)I[4CC=8
'/)10)-$)RX)0"%("/-)$:)(,.".8)@&").?'/)'. $1.) 2".'$/.) ,00",%) ,.) 0,'/:12A) *$+"4 -&5)8"74856&>&' "&)+%8,090) '.) ,) ($+4
'/B$2B"*),.),):$(1.)'/)$/"4-&'%*)$:)(,.". .&,0"*) B,.(12,%) 0,012".) ,/*) /$*12". +"/.,2)#,(-"%'1+):$1/*)'/)-&").,2'B,)$:
;'-&) *'.."+'/,-"*) '/:"(-'$/8) P$%" <$:-"/) %"."+#2'/6) 05$6"/'() 6%,/12$4 *$6.),/*)(,-.)-&,-)'.)-%,/.+'--"*)-$)&14
%,%"25A)-&").?'/)'.)-&")0%'+,%5)2$(,-'$/ +,.=) <."") d'68) CQI4K=8) H'.."+'/,-"*) '/4 +,/.) #5) #'-".) $%) .(%,-(&".8KIAKK) E$.-.
$:)'/:"(-'$/8 :"(-'$/)+,5)$((1%),/*)'/B$2B")-&")2'B"%A 0,%-'(12,%25) .1.("0-'#2") -$) ."0-'("+',
!"B"%,2)-50".)$:).?'/)2".'$/.)&,B")#""/ .02""/A) #$/") +,%%$;A) ,/*) #%,'/8) f,4 ,/*) ;'*".0%",*) $%6,/) '/B$2B"+"/-) '/4
*".(%'#"*A)'/(21*'/6),#.("..".);'-&).'/1. -'"/-.) $:-"/) &,B") ,) &'.-$%5) $:) .(%,-(&". (21*") ,2($&$2'(.A) ,.02"/'() 0,-'"/-.A) ,/*
-%,(-) :$%+,-'$/A) .1#(1-,/"$1.) /$*12". $%)#'-".)#5)(,-.A)-&")/,-1%,2)%"."%B$'%):$% -&$.")-,?'/6)621($($%-'($.-"%$'*.8KI)!?'/
;'-&) 01.-12".) <d'68) I[4Q=A) +5("-$+,A F1'6!)0!*&!),/*)F1'P9+)4&)&8)H',6/$.'.)'. 2".'$/.) $((1%) ($++$/25) ,/*) '/(21*"
.0$%$-%'(&$'*) /$*12".A) ,/*) ("2212'-'.8IQ +,*")#5)*"+$/.-%,-'$/)$:)02"$+$%0&'( +,(12".A) 0,012".A) 01%01%,A) ,/*) 6,/4
H',6/$.'.) '.) #,."*) $/) *"+$/.-%,-'$/) $: #,('22') '/) -'..1") .0"('+"/.) ;'-&) _,%4 6%"/"8) 9/) '++1/$.100%".."*) 0,-'"/-.A
g%,+40$.'-'B"A)0,%-',225),('*4:,.-A)#%,/(&4 -&'/4!-,%%5) .'2B"%) .-,'/8) f%":"%%"*) -%",-4 3&*%8)!**&'!)4!,+4+.+0)&,.)#""/),..$(',-"*
'/6) #,('22')'/)-'..1") $%)-'..1")"M1*,-")$% +"/-.) '/(21*") $%,2) "%5-&%$+5('/) ,/* ;'-&) (1-,/"$1.) ,#.("..".) $:) -&") &",*
'.) *"-"%+'/"*) #5) -'..1") (12-1%"A) ,24 *$M5(5(2'/"8 ,/*)/"(?8KR
-&$16&) '-) $:-"/) -,?".) ."B"%,2);""?.) :$%
$%6,/'.+.) -$) 6%$;8) @&") -%",-+"/-) $: DCI87,G?>C874?@,4B38>C4DB$ <!"") J&,0.
BE815.(98C+HD0386
(&$'(") '.) -%'+"-&$0%'+4.12:,+"-&$M,4 CZ[A)CQXA),/*)CQK= J"2212'-'.) (,1."*) #5
7$2"8) L1+"%$1. $-&"%) ,/-'#'$-'(.) &,B" 34,!548"8""90' 578>!)!0A 34,!548"8""90' 5)!9; >?B-4-4?$4$ <!"")J&,08)CQ[= G2-&$16&
#""/) %"0$%-"*) -$) #") ":D(,('$1.) ,.) ;"22A %8)+&!A)$%)31'&9,!90)+,5)0%$6%"..)%,0'*25 +1($(1-,/"$1.)(,/*'*',.'.)'.)2"..)."%'$1.
.1(&) ,.) +'/$(5(2'/"A) (,%#,0"/"+.A) ,/* ,/*) (,1.") /"(%$-'7'/6) :,.(''-'.) '/) '++14 -&,/)*'.."+'/,-"*)(,/*'*',.'.)'/)-&")."-4
,+'?,('/8) @%,/.02,/-) 0,-'"/-.) +,5) %"4 /$.100%".."*) 0,-'"/-.) <d'68) I[4[=8) !$2'* -'/6)$:),(1-")'++1/$.100%"..'$/)<,.)*"4
31'%") 2$/64-"%+) 0%$0&52,(-'() -&"%,05) -$ $%6,/)%"('0'"/-.),2.$)+,5)*"B"2$0)%"(1%4 .(%'#"*)'/)-&")",%2'"%)J,/*'*',.'.)."(-'$/=A
0%"B"/-)%"(1%%"/-)*'.",."8)9/),**'-'$/A)'/4 %"/-) ("2212'-'.) $:) -&") "2#$;A) ,) ($/*'-'$/ '-)'.)-&")+$.-)($++$/)($+02'(,-'$/)$#4
('.'$/) ,/*) *%,'/,6") $:) (1-,/"$1.) ,#4 -"%+"* 4,&)05*&)4'!*/8R)-&,-)&,.)#""/),-4 ."%B"*)'/)&$.-.);'-&)(&%$/'()("224+"*',-"*
.("..".).&$12*)#")0"%:$%+"*8 -%'#1-"*)-$).-,0&52$($((,2)'/:"(-'$/8 '++1/")*5.:1/(-'$/8KN)G00%$M'+,-"25)CX
? G
345678,!#9# &5,.K(T?U(58-(.5D+(T5CD+,(6E,10H5.(-iJ,0-+4+8DN(GU(.+60386(3C(8+H,3D0I081(C56H00D06(H5E6+-(JK(?41%74*/*//0$-76*E%:%$(08(58(08D,5L+83E6(-,E1
5JE6+,(/0D2(E8-+,.K081(73J(6K8-,34+G
!E:
345678,!#9"! \20D+(6EM+,PH05.(38KH234KH3606(08(5(,+85.(D,586M.58D(M5D0+8D(,+H+0L081(HKH.36M3,08+G
0,012".),/*)02,31".A)$:-"/);'-&).,-"22'-" .1#1/61,2)$/5(&$+5($.'.8)9/)-&"):$%+"%A
01.-12".8)]/5(&$+5($.'.),/*)0,%$/5(&', -&") .1%:,(".) $:) ,::"(-"*) /,'2.) &,B") ,
(,1."*) #5) -&).+.&) .08) ,%") ($++$/) '/ ;&'-"A) (&,2?5) ,00",%,/(") <d'68) I[4CI=A
0,-'"/-.) ;'-&) (&%$/'() +1($(1-,/"$1. ,/*) &50&,") ,%") $#."%B"*) %",*'25) '/) .14
(,/*'*',.'.8)d$%)+1($(1-,/"$1.)*'.",."A 0"%D(',2) /,'2) 02,-") .(%,0'/6.8) @&".") ($/4
-$0'(,2)-&"%,05);'-&)/5.-,-'/)$%)(2$-%'+4 *'-'$/.) .&$12*) 0%$+0-) ,) .",%(&) :$%) 1/4
345678,!#9"2 #HED+(4+80813H3HH+405(08(5 ,7$2"),/*)$%,2)W1($/,7$2"),%")-&")-%",-4 *"%25'/6)'++1/")*"D('"/(58
458(/0D2(5HQE0,+-(H34M.+4+8D(-+PH0+8HKG +"/-.)$:)(&$'("8)f%$0&52,(-'()-%",-+"/-
;'-&)W1($/,7$2")'.)$:-"/)%"($++"/*"* >7RACD>D>>D$4$ <!"")J&,08)C[X= -,75;
0"%("/-)$:)0,-'"/-.);'-&)$%6,/)-%,/.02,/-. :$%) 0,-'"/-.) ,-) &'6&) %'.?) :$%) '/:"(-'$/A 48"8""90')!8=8,%&)0)'.),)5",.-42'?")"/(,04
"M&'#'-)$%,2)(,/*'*',.'.8KV)f,-'"/-.);'-& .1(&),.)-&$.");&$)&,B")%"("/-25)1/*"%4 .12,-"*):1/61.)-&,-)'.)1#'31'-$1.),/*)'.
(&%$/'()+1($(1-,/"$1.)(,/*'*',.'.)&,B" 6$/")$%6,/)-%,/.02,/-).1%6"%58 :$1/*)($++$/25)'/).$'2)"/%'(&"*);'-&
.0"('D()1/*"%25'/6)'++1/")*"D('-.)'/ #'%*):"(".8)f%'+,%5)'/:"(-'$/)'.),(31'%"*
D6&-'/6)(,/*'*,2)'/:"(-'$/.),/*)1.1,225 -87S?CDAIRCD$4$ <!"")J&,08)CQQ= H"%4 B',)-&")%".0'%,-$%5)-%,(-)#5)'/&,2,-'$/)$:
&,B")(&%$/'();'*".0%",*)*'.",.");'-&$1- +,-$0&5-$.".) ,%") ($++$/) 1/($+02'4 ,'%#$%/").0$%".),/*)1.1,225)'.),.5+0-$4
.5.-"+'()'/B$2B"+"/-8 (,-"*) '/:"(-'$/.) '/) /$%+,2) &$.-.A) #1-) '+4 +,-'()'/)&",2-&5)'/*'B'*1,2.8)]%6,/)-%,/.4
f,-'"/-.);'-&)$%,2)+1($.,2)(,/*'*',.'. +1/$.100%".."*) 0,-'"/-.) +,5) &,B" 02,/-)%"('0'"/-.),%")/$;)-&")0$012,-'$/),-
+$.-) ($++$/25) &,B") 0."1*$+"+#%,4 ;'*".0%",*A),66%"..'B")'/:"(-'$/) -&,-)(,/ &'6&".-)%'.?)$:)*"B"2$0'/6)*'.."+'/,-"*
/$1.A);&'-"A):%',#2")02,31".)-&,-)2",B"), #") %".'.-,/-) -$) -$0'(,2) ,/*) .5.-"+'() -&"%4 *'.",."A)#"(,1.")'+0%$B"*),/-'%"-%$B'%,2
%,;A) "%5-&"+,-$1.) 1/*"%.1%:,(") ;&"/ ,058KZAKQ) 9/-"%".-'/625A) -&") '/('*"/(") $: ,6"/-.)&,B")*"(%",."*)-&")'/('*"/(")'/
.(%,0"*8) ^"..) ($++$/) $%,2) 2".'$/.) '/4 *"%+,-$0&5-")'/:"(-'$/);,.)/$-):$1/*)-$ -&$.");'-&)E9F)*'.",."8RX)]-&"%)'++14
(21*")"%5-&"+,-$1.)$%),-%$0&'()02,31". #")&'6&"%)'/)%"/,2)-%,/.02,/-)0,-'"/-.)-&,/ /$.100%".."*)0,-'"/-.A)0,%-'(12,%25)-&$."
,.) ;"22) ,.) ,/612,%) (&"'2'-'.8) S.$0&,6",2 '/) /$%+,2) &$.-.) '/) $/") .-1*58K[) !0"('D( %"("'B'/6)&'6&4*$.").5.-"+'()($%-'($.-"%4
'/B$2B"+"/-).&$12*)#").1.0"(-"*)'/),/5 0%"."/-,-'$/.) .""/) '/) '++1/$($+0%$4 $'*.A),%").1.("0-'#2")-$)&"+,-$6"/$1.
0,-'"/-) ;'-&) $%,2) (,/*'*',.'.) ($+02,'/4 +'."*)0,-'"/-.)'/(21*")+12-'02")2".'$/.A), .0%",*),/*)*'.."+'/,-"*)'/:"(-'$/8 RC
'/6) $:) 0,'/) $%) *':D(12-5) .;,22$;'/68 ;'*") *'.-%'#1-'$/A) ,/*) P,`$((&') 6%,/14 G2.$),-)'/(%",."*)%'.?)'/(21*")-&$.");'-&
P$'.-) '/-"%-%'6'/$1.) ,%",.) ,%") ($++$/ 2$+,8)P,/':".-,-'$/.)+$%").166".-'B")$: *',#"-".)+"22'-1.A)(&%$/'()25+0&$(5-'(
2$(,-'$/.) $:) (1-,/"$1.) 2".'$/.) ,/*) ,%" '++1/$.100%"..'$/) '/(21*") #$-&) ;&'-" 2"1?"+',A)(&%$/'()+5"2$'*)2"1?"+',A
(&,%,(-"%'7"*) #5) -"/*"%) "%5-&"+,-$1. .10"%D(',2) $/5(&$+5($.'.) ,/*) 0%$M'+,2 +12-'02")+5"2$+,A),/*)E$*6?'/)*'.",."8
@&")("/-%,2)/"%B$1.).5.-"+)'.)+$.-)($+4
+$/25)'/B$2B"*A),2-&$16&)'/:"(-'$/)+,5
$((1%)-&%$16&$1-)-&")#$*5A)'/(21*'/6)-&"
21/6.A)#$/")+,%%$;A)&",%-A)2'B"%A).02""/A
?'*/"5.A)-&5%$'*A)25+0&)/$*".A),/*),*%"4
/,2)62,/*.8)@&").?'/)'.)-&")+$.-)($+4
+$/25),::"(-"*).'-")'/)*'.."+'/,-"*)*'.4
",.")'/)-&$.");'-&)$%6,/)-%,/.02,/-.
%"("'B'/6).5.-"+'()-,(%$2'+1.8RX
J2,..'(,225A) (1-,/"$1.)2".'$/.) $((1%) '/
10)-$)CN)0"%("/-)$:)0,-'"/-.);'-&)*'.."+4
'/,-"*) '/:"(-'$/a) &$;"B"%A) .?'/) 2".'$/.
,%")+,/':".-)'/)VZ)0"%("/-)$:)0,-'"/-.)%"4
("'B'/6)-,(%$2'+1.8)9/)-%,/.02,/-)0,-'"/-.A
"%5-&"+,-$1.A) "*"+,-$1.A) ;,%+A) 0,'/4
:12) 02,31".) $/) -&") "M-%"+'-'".) <(2'/'(,225
'/*'.-'/61'.&,#2"):%$+)#,(-"%',2)("2212'-'.=
345678,!#9"" K'B1'*-C0#:'L/0$(08C+HD038(08(58(5.H323.0H(M5D0+8D(5CD+,(4083,(D,5E45(6E6D508+-(/20.+ &,B") #""/) %"0$%-"*) +$.-) :%"31"/-258RX
6/044081(08(D2+(3H+58G O+#'2'(,-"*)0,012".)<%"."+#2'/6)+$221.4
!E;
2'+'-"*)*'.",.")'/)$-&"%;'.")&",2-&5)'/4 >D>>4-4D4-DSR>D$4$ <!"") J&,08) C[X=
*'B'*1,2.8)H'.."+'/,-"*)*'.",.")+$.- -8""+.+8+.!0'+%%+4+0A)-&")(,1.,-'B"),6"/-)$:
$:-"/)$((1%.)'/)'/*'B'*1,2.);'-&)*"D4 ($(('*'$'*$+5($.'.A)'.)"/*"+'()-$).$'2)'/
('"/('".)'/)("224+"*',-"*)'++1/'-58RI)9/ -&") .$1-&;".-"%/) O/'-"*) !-,-".A) ,/*) '/4
,**'-'$/)-$)0/"1+$/',A)'++1/$.104 :"(-'$/)'.) 1.1,225) ,(31'%"*)-&%$16&)'/&,4
0%".."*)&$.-.)+,5).&$;):"B"%A)%"/,2 2,-'$/)$:).0$%".A);&'(&)(,1.".)012+$/,%5
:,'21%"A)("/-%,2)/"%B$1.).5.-"+)'/B$2B"4 *'.",."8RR) G2-&$16&) 0%$6%"..'B") 0%'+,%5
+"/-A)&"0,-$.02"/$+"6,25A)25+0&,*"4 '/:"(-'$/) +,5) $((1%) '/) '++1/$.104
/$0,-&5A),/*)+5"2$.100%"..'$/8 0%".."*) 0,-'"/-.A) %",(-'B,-'$/) $:) ,) 0%'$%A
!?'/)2".'$/.)$((1%)'/)N)0"%("/-)-$)IN (2'/'(,225)1/,00,%"/-)'/:"(-'$/),00",%.)-$
0"%("/-) $:) 0,-'"/-.) ;'-&) *'.."+'/,-"* #") +$%") ($++$/8) @&") %'.?.) $:) *'.."+'4
'/:"(-'$/) ,/*) +,5) #") ,/) '/'-',2) .'6/) $: /,-'$/) ,/*) :,-,2) '/:"(-'$/) ,%") 6%",-"%
*'.",."8RK)P1($(1-,/"$1.)2".'$/.)($+4 ,+$/6) 0%"6/,/-) ;$+"/A) /$/4J,1(,4
+$/25) +,/':".-) ,.) 0,'/:12) /$*12".) $% .',/.A) ,/*) '++1/$.100%".."*) 0,-'"/-.
02,31".) -&,-) 0%$6%"..) -$) 12("%.) ;'-& ;'-&) *":"(-.) '/) ("224+"*',-"*) '++1/'-58
345678,!#9": ;3..E6HE4[.0O+(.+60386(3C(HE[ '/*1%,-"*) #$%*"%.8) L1+"%$1.) $-&"% @&1.A) *'.."+'/,-"*) ($(('*'$'*$+5($.'.
D58+3E6( H,KMD3H3HH3606G( TR6+-( /0D2( M+,4066038 +$%0&$2$6'() :$%+.) &,B") ,2.$) #""/) *"4 (,/) $((1%) '/) ,/5) '++1/$($+0%$+'."*
C,34(>5.+('+60-+8D6W(6.0-+(H3..+HD038GU .(%'#"*A) '/(21*'/6) +$221.(1+42'?") 0,04 0,-'"/-);&$)2'B".)$%)&,.)2'B"*)0%"B'$1.25
12".A) ,(/"':$%+) 0,012".) ,/*) 01.-12".A '/),/)"/*"+'(),%",8
(1+) ($/-,6'$.1+=A) /$*12".A) 01.-12".A ,/*)("2212'-'.8)9/),**'-'$/A),.);'-&)(%504 9++1/$.100%".."*) 0,-'"/-.) ;'-&) *'.4
B".'(2".A) ,/*) 12("%.) ,2.$) +,5) $((1%) <d'68 -$($(($.'.A)-&")&",*),/*)/"(?)%"6'$/)'. ."+'/,-"*)*'.",.")+,5)&,B"):"B"%A)0/"14
I[4CK=8) ]%,2) +1($.,2) (%50-$($((,2) /$*4 '/B$2B"*) +$.-) :%"31"/-258) 9/) :,(-A) -&" +$/',A)#$/")'/B$2B"+"/-A),/*)+"/'/6'4
12".) ,/*) 12("%,-'$/.) ,2.$) &,B") #""/) *"4 $%$0&,%5/M) '.) -&") +$.-) ($++$/) .'-" -'.8) P$%-,2'-5) '.) &'6&8) !?'/) 2".'$/.) ,%"
.(%'#"*8)^".'$/.)+,5)#")'.$2,-"*)$%)+124 :$%) 2".'$/.) $:) +1($(1-,/"$1.) &'.-$4 B,%'"*A) #1-) '/(21*") +12-'02") B"%%1($1.
-'02") ,/*)(,/)#")31'-") 0,'/:128)G2-&$16& 02,.+$.'.8) \"(,1.") -&") $%6,/'.+ 0,012".A),#.("..".A),/*)12("%,-"*)0,012".
,/5) ,%",) $:) -&") .?'/) ,/*) $%,2) +1($., 6%$;.) B"%5) .2$;25) '/) (12-1%"A) &'.-$4 ,/*) 02,31".8) H'.-'/61'.&'/6) 0%'+,%5) (14
+,5) #") ,::"(-"*A) -&"%") '.) ,) 0%"*'2"(-'$/ 02,.+$.'.) '.) #".-) *',6/$."*) #5) *'%"(- -,/"$1.)2".'$/.)<;&'(&),%")%,%"=):%$+)*'.4
:$%) *'.."+'/,-"*) *'.",.") -$) '/B$2B") -&" "M,+'/,-'$/) $:) -'..1"8) L1+"%$1. ."+'/,-"*)*'.",.")'.)'+0$%-,/-),/*)+,5
&",*),/*)/"(?)%"6'$/8 .+,22A)$B,2A)5",.-42'?"):1/6')(,/)#").""/ %"31'%")."%$2$6'()-".-'/68RN)f%'+,%5) (1-,4
G2-&$16&) 0%'+,%5) .?'/) *'.",.") +,5 ;'-&'/)-&")(5-$02,.+)$:)*"%+,2)+,(%$4 /"$1.) 2".'$/.) 1.1,225) %".$2B") '/) &",2-&5
$((1%) '/) -&") ,#."/(") $:) 012+$/,%5) '/4 0&,6".8) G/-'6"/) -".-'/6) '.) ,2.$) ,B,'24 '/*'B'*1,2.A) ;&"%",.) 2".'$/.) 0"%.'.-) '/
:"(-'$/A) *',6/$.'.) $:) (1-,/"$1.) (%50-$4 ,#2"A)#1-)(%$..4%",(-'$/)(,/)$((1%);'-& '++1/$($+0%$+'."*) 0,-'"/-.8) ]-&"%
($(($.'.) ,2;,5.) ;,%%,/-.) ,/) '/B".-'6,4 #2,.-$+5($.'.) ,/*) $-&"%) :1/6,2) '/:"(4 (1-,/"$1.) 2".'$/.) .""/) '/) .5.-"+'() *'.4
-'$/) :$%) .5.-"+'() '/:"(-'$/A) ".0"(',225 -'$/.) <-&$16&) /$-) ;'-&) (%50-$($((1.=8 ",.") '/(21*") "%5-&"+,) +12-':$%+"A) 1%-'4
#"(,1.") *'.."+'/,-"*) *'.",.") +,5) /$- @&") -%",-+"/-) $:) (&$'(") :$%) *'.."+'4 (,%',A) ,) +,(12$0,012,%) %,.&A) ,/*) "%54
,2;,5.)#")"B'*"/-)(2'/'(,2258)@&'.)'.)1.14 /,-"*) &'.-$02,.+$.'.) '/) ,/) '++1/$4 -&"+,)/$*$.1+8) H"D/'-'B") *',6/$.'.) $:
,225) ,(($+02'.&"*) #5) "M,+'/'/6) ("%"4 .100%".."*)&$.-)'.)'/-%,B"/$1.),+0&$4 ($(('*'$'*$+5($.'.) '.) +,*") #5) *"+$/4
#%$.0'/,2)W1'*):$%)(%50-$($((,2)0$25.,(4 -"%'('/) \8) d$%) 0,-'"/-.) ;&$) ,%") /$- .-%,-'/6) (&,%,(-"%'.-'() "/*$.0$%12,-'/6
(&,%'*") ,/-'6"/.8) d$%) .?'/) 2".'$/.A ,(1-"25) '22A) $%,2) '-%,($/,7$2") +,5) #" .0&"%12".)'/).+",%.)$%)#'$0.5).0"('+"/.
#1**'/6) "/(,0.12,-"*) 5",.-.) (,/) #" 1."*a) '-%,($/,7$2") '.) ,2.$) %"($+4 $%) #5) (12-1%") $:) '/:"(-"*) -'..1"8) 9/) *'.4
'*"/-'D"*)%",*'25)'/)-'..1")#'$0.5).0"('4 +"/*"*) :$%) '++1/$.100%".."*) 0,4 ."+'/,-"*) '/:"(-'$/.) '/) '++1/$.104
+"/.),.);"22),.)'/)+,-"%',2)$#-,'/"*)#5 -'"/-.)-$)0%"B"/-)%"(1%%"/-)*'.",."8 0%".."*) &$.-.A) -%",-+"/-.) :$%) 2':"4-&%",-4
,) .(%,0'/6) $:) .?'/) 2".'$/.8) @&") 5",.-
.-,'/) %"*) ;'-&) 0"%'$*'() ,('*4!(&'::) ,/*
+1('(,%+'/") .-,'/.) ,/*) #2,(?) ;'-&
+"-&"/,+'/").'2B"%).-,'/8)9/*',)'/?)(,/
#") 1."*) -$) ,(("/-1,-") -&") (,0.12") '/) ,
.?'/) .(%,0'/6) <d'68) I[4CR=8) -,7548"8""90
(,/) #") '.$2,-"*) '/) (12-1%") $:) (1-,/"$1.
-'..1"8)@&")-%",-+"/-)$:)(&$'("):$%)(%504
-$($(($.'.) '.) '/-%,B"/$1.) ,+0&$-"%'('/
\);'-&)$%);'-&$1-)W1(5-$.'/"8)d21($/,4
7$2")'.)1."*),.),2-"%/,-'B")0%'+,%5)-%",-4
+"/-),/*)'.)-&")-%",-+"/-)$:)(&$'("):$%
0%$0&52,M'.) '/) '/*'B'*1,2.) ,-) &'6&) %'.?
:$%)0%'+,%5)$%)%"(1%%"/-)'/:"(-'$/8
!EO
!"#$%&'( !"#$%&&%'()*+,!-.%-.-+/%-.,+
! ("+".0')(12!$-+%",+.(-!"(12!$-
7%'*2,80+( 34=>:
3456* 7:?*)0)@%",< 345H 345H
3$)A+B",) 3455' 345H
78"'090&:)1"*;< 3455G 3455@
+%$).&'@%"C'%+.* :-D?5 E'@?5 32F
I,(+%$)0"JA
L3DE?5& L3DE?>
@+99'%
!"#$%&'($)*"+,
2+00",#
-.))&/0+1",#
HN9*%O+4.4+24'(!*+,-P8,9*4!8+((!2N.6%-'(%9
BC;<$:.MEGL 'BAAH7+6K=NWCDB9E+;N+97H6K;GMB<A+=9>+7;AB9;GMB<A:+'M7+B967K=C6B;9+;N+A7<7C6B9A+=9>+B967EKB9A+;9+6M7+<7HD;CF67+AHKN=C7+LB6M+6M7BK+79>;6M7<B=<+=>>K7AAB9A
BA+>7GBC67>+^97H6K;GMB<A+;9+6M7+6;G+=9>+7;AB9;GMB<A+;9+6M7+J;66;@_:+'M7+@=X;KB6F+;N+<7HD;CF67A+=K7+B9+=+<=@B9=K+`;L+G=667K9:+#;<<;LB9E+6BAAH7+ABE9=<A+6M=6+=C6B8=67+79>;R
6M7<B=<+A7<7C6B9A+=9>+E<FC;GK;67B9AO+=+AHJA76+;N+<7HD;CF67A+J7EB9+6;+K;<<+=<;9E+6M7+8=ACH<=K+L=<<:+#;K+6M7+97H6K;GMB<O+6MBA+6FGBC=<<F+B98;<87A+6M7+B967K=C6B;9+;N+3,QTA+LB6M
3,aU1+^1RA7<7C6B9_+=9>+3,aU.+^.RA7<7C6B9_+;9+6M7+79>;6M7<B=<+C7<<+;K+3,aU$+^$RA7<7C6B9_+LB6M+3,4]+;K+E<FC;AF<=6B;9R>7G79>796+C7<<+=>M7AB;9+@;<7CH<7+Q+^I<F3%&RQ_+;9
6M7+79>;6M7<B=<+C7<<:+.;AB9;GMB<+K;<<B9E+GKB@=KB<F+HA7A+1RA7<7C6B9+E<FC;GK;67B9+<BE=9>+Q+^1-I$RQ_+=9>+B6A+C;H967KR<BE=9>+;9+6M7+79>;6M7<BH@O+1RA7<7C6B9O+LB6M+=+@;K7+@B9;K
K;<7+G<=F7>+JF+3,aU$+b87KF+<=67+=96BE79+]+^c$%R]_d+=9>+6M7BK+79>;6M7<B=<+=>>K7AAB9AO+3,4][I<F3%&RQ+=9>+8=ACH<=K+C7<<H<=K+=>M7AB;9+@;<7CH<7RQ+^c3%&RQ_O+K7AG7CR
6B87<F:+%J9;K@=<B6B7A+B9+NHC;AF<=6B;9+;N+3,QTA+C=HA7+<7HD;CF67+=>M7AB;9+>7WCB79CF+U:+%C6B8=6B;9+;N+<7HD;CF67A+JF+6M7+K7VHBAB67+CM7@;=66K=C6=96+<7=>A+6;+6M7+7PGK7AAB;9
;N+B967EKB9A+LB6M+MBEM7K+=8B>B6F+C;9N;K@=6B;9A:+!9+6M7+C=A7+;N+6M7+97H6K;GMB<O+6M7+K7<78=96+B967EKB9A+=K7+6M7+ U+N=@B<F+@7@J7KA+b<F@GM;CF67+NH9C6B;9e=AA;CB=67>+=96BE79
Q+^$#%RQ_O+&=CRQO+=9>+3)]df+LM7K7=A+7;AB9;GMB<A+7PGK7AA+=+@;K7+<B@B67>+9H@J7K+;N+ U+N=@B<F+@7@J7KA+^$#%RQ+=9>+&=CRQ_O+JH6+=<A;+7PGK7AA+=+ Q+B967EKB9+c$%R]+=9>
S +B967EKB9+^ ] S_:+'M7+ U+B967EKB9A+JB9>+6;+79>;6M7<B=<+B967KC7<<H<=K+=>M7AB;9+@;<7CH<7+Q+^!3%&RQ_+=9>+!3%&RUO+LM7K7=A+6M7+ Q+=9>+ S +B967EKB9A+JB9>+c3%&RQ+=9>
@HC;A=<+=>>K7AAB9+C7<<+=>M7AB;9+@;<7CH<7RQ+^&=>3%&RQ_O+K7AG7C6B87<F:+,7N7C6A+B9+3,QgO+6M7+ +CM=B9+;N+6M7+ U+B967EKB9AO+<7=>+6;+6M7+B9=JB<B6F+;N+97H6K;GMB<A+6;+7PB6+6M7
CBKCH<=6B;9+=6+AB67A+;N+B9N7C6B;9+=9>+BA+C=<<7>+"#$%&'()#*+,-#./&0*,#1'/#0'(+2:+!967K7A6B9E<FO+7;AB9;GMB<AO+@;9;CF67AO+=9>+<F@GM;CF67A+=K7+;JA7K87>+=6+AB67A+;N+B9N7C6B;9
B9+6M7A7+G=6B796AO+=A+6M7A7+C7<<A+C=9+HA7+ Q+B967EKB9A+6;+@7>B=67+6M7+WK@+=>M7AB;9+A67G+K7VHBK7>+N;K+<7HD;CF67+6K=9A79>;6M7<B=<+@BEK=6B;9:+
4''+& -',*-)'7& )*& 4'& )#'-.,'2)$(=& 42)& )#$% "#'&DJMT&$+)'5-$+&,.)#0.6&$%&(-$)$(.3 DJMT8$+7','+7'+)& ,.)#0.6%& 'H$%)& 1*-
#.%&+*)&4''+&(*+%$%)'+);&G*%)&,.)$'+)%&.3%* 1*-&$+?.::.)$*+&$+&)#'&%>$+=&42)&+*)&+'(8 ,23:*+.-6&.+7&,'-$)*+'.3&$+?.::.)$*+;
#./'&:'+).3&-').-7.)$*+=&%#*-)&%).)2-'=&7$%8 '%%.-6&1*-&.((2:23.)$*+&*1&+'2)-*,#$3%&$+ E2-)#'-=& $+& )#'& %'))$+5& *1& (*+5'+$).3& .48
)$+()$/'&1.($'%=&.+7&)#'&W*:4.6&B##F&43**7 )#'& 32+5& *-& ,'-$)*+'2:;& "#'-'1*-'=& .38 %'+('&*1&DJMT=&(*:,'+%.)*-6&,.)#0.6%
,#'+*)6,'=& $+7$(.)$+5& )#'& :23)$,3'& %6%8 )#*25#& DJMT87','+7'+)& ,.)#0.6%& .-' 'H$%)&$+&)#'&:*2%'&)*&-'%,*+7&)*&,'-$)*8
!D! )':%&$+&0#$(#&12(*%63.)$*+&$%&(-$)$(.3; (-$)$(.3& 1*-& (2).+'*2%& $+?.::.)$*+= +'.3&$+?.::.)$*+;&
1F5;?>I@?HCH V#.5*(6)*%$%& $%& )#'& (238 BWV[F&$%&.&#$5#36&,*)'+)&.+)$4.()'-$.3 (*%.3&%'(-')$*+%;&m#'+&-'3'.%'7&$+)*&)#'
:$+.)$*+& *1& *4_'()& -'(*5+$)$*+=& 4$+7$+5= 5-.+23'&,-*)'$+&%6+)#'%$9'7&.+7&%)*-'7 ,#.5*36%*%*:'=& 3.()*1'--$+& 4$+7%& $-*+
%$5+.3$+5=&.7#'-'+('=&(6)*%>'3').3&-':*78 $+&)#'&,-$:.-6&5-.+23'%;&[)&$%&.&#$5#36&4.8 .+7& $+#$4$)%& )#'& 5-*0)#& *1& ,#.5*(68
'3$+5=&'+5231:'+)=&.+7&:':4-.+'&12%$*+; %$(&B$%*'3'()-$(&,*$+)&j&Q;KF&,-*)'$+&*1 )*%'7& 4.()'-$.& .+7& %*:'& 12+5$;& "#'
"0*& :'(#.+$%:%& .-'& 0'33& (#.-.()'-8 S!N&.:$+*&.($7%&.+7&.,,-*H$:.)'36&!T :'(#.+$%:%& )#-*25#& 0#$(#& 3.()*1'--$+
$9'7=& *+'& :'7$.)'7& 46& $::2+*53*423$+ >7;&<'A2'+('&#*:*3*56&)*&3$,*,*36%.(8 'H'-)%& $)%& .+)$:$(-*4$.3& .()$*+& ,-*4.436
.+7&*+'&:'7$.)'7&46&(*:,3':'+);& (#.-$7'&B\V<F84$+7$+5&,-*)'$+=&.&(-$)$(.3 $+(327'&)#'&7',3')$*+&*1&$-*+&1-*:&.+&*-8
Y'(',)*-%&1*-&)#'&E(&,*-)$*+%&*1&$::28 '+7*)*H$+&4$+7$+5&.(2)'8,#.%'&-'.().+)= 5.+$%:n%& '+/$-*+:'+)=& 42)& $-*+84$+78
+*53*423$+& C& g[5C& BE( YFh& .-'& ,-'%'+)& *+ %255'%)%&)#.)&$)&.()%&46&7$-'()36&4$+7$+5 $+5X$+7','+7'+)&.+)$:$(-*4$.3&.()$/$)$'%
:.+6&(*:,*+'+)%&*1&)#'&('3323.-&$::2+' )*&\V<;&WV[&$%&(6)*)*H$(&)*&C-.:8+'5.8 .+7& 7$-'()& $::2+*:*723.)*-6& '11'()%
-'%,*+%'=& $+(327$+5& +'2)-*,#$3%=& :*+*8 )$/'&4.()'-$.&.)&(*+('+)-.)$*+%&.%&3*0&.% .-'& .3%*& -',*-)'7;& \.()*1'--$+& $%& -'.7$36
(6)'%=& :.(-*,#.5'%=& '*%$+*,#$3%=& .+7& 4.8 MLXQ&>=&42)&:2(#&3'%%&'11'()$/'&.5.$+%) -'3'.%'7& $+)*& )#'& ($-(23.)$*+& .1)'-&42-+%
%*,#$3%;& E( Y[& BDJKSF& $%& .& -'(',)*-& 1*- C-.:8,*%$)$/'&*-5.+$%:%;&W$+7$+5&)* .+7& 'H,'-$:'+).3& '+7*)*H':$.=& ,-'8
[5CM& .+7& [5CP& *+& :*+*(6)'%=& :.(-*8 \V<&3'.7%&)*&$+%'-)$*+&*1&WV[&$+)*&)#' %2:.436&1-*:&+'2)-*,#$3&7'5-.+23.)$*+;&
,#.5'%=& .+7& '*%$+*,#$3%& .+7& $%& 2,-'528 *2)'-&:':4-.+'&*1&)#'&*-5.+$%:&.+7
3.)'7& *+& +'2)-*,#$3%& .1)'-& $+)'-1'-*+8 '/'+)2.3&$+%'-)$*+&$+)*&)#'&$++'-&:':8 ?KI;:7GA:1:7A:7@.15@FR5IH U'2)-*8
B[EU8 F& %)$:23.)$*+;& E( Y[[& BDJPNF& 4$+7% 4-.+';&O--'%)&*1&4.()'-$.3&5-*0)#&$% ,#$3%&(.+&,-*72('&)*H$(&*H65'+&:').4*8
[5C& 0$)#& -.)#'-& 3*0& .1@+$)6=& .+7& ,-'1'-% %*3'36&7','+7'+)&*+&)#'&U8)'-:$+.3&#.31 3$)'%&)#-*25#&)#'&-'72('7&+$(*)$+.:$7'
[5CM&.+7&[5CP;&E( Y[[[&BDJMKF&4$+7%&[5CM *1&)#'&:*3'(23';&"#'&D8)'-:$+.3&1-.58 7'#67-*5'+.%'&,#*%,#.)'&BUOJV^F&*H$8
.+7&[5CP&0$)#&$+)'-:'7$.)'&.1@+$)6;&U'28 :'+)&%'-/'%&.%&.+&.+(#*-&)*&)#'&:':8 7.%'&(*:,3'H=&0#$(#&)6,$(.336&$%&.%%':8
)-*,#$3& E( Y[[[W=& $%& 4*2+7& )*& )#'& :':8 4-.+';&WV[&.,,'.-%&)*&.()&$+%$7'&)#' 43'7&$+&)#'&0.33&*1&)#'&,#.5*36%*%*:';
4-.+'&)#-*25#&.&536(.+&,#*%,#.)$763&$+*%8 ,#.5*36%*%*:';&U*)&.33&C-.:8+'5.)$/' "#'&UOJV^&*H$7.%'&(.).36%'%&)#'&.77$8
$)*3&3$+>.5'=&0#$(#&$%&3.-5'36&(3'./.43'&46 -*7%&.-'&%'+%$)$/'&)*&WV[=&'%,'($.336 )$*+&*1&.+&'3'()-*+&)*&:*3'(23.-&*H65'+=
,#*%,#.)$763& $+*%$)*38%,'($@(& ,#*%,#*3$8 ?/(,"%.2#()&1@A-#/2%$%*&-B1!#4&!)&&.+7 3'.7$+5&)*&)#'&1*-:.)$*+&*1&%2,'-*H$7'
,.%'& D;& O%& E( Y[[[W& #.%& +*& (6)*,3.%:$( 6#((&')&&$&(!#-!#*-=&,.)#*5'+%&$+&,.)$'+)% .+$*+;&<2,'-*H$7'&$+&)2-+&$%&(*+/'-)'7&)*
7*:.$+=& $)%& -*3'& $+& %$5+.3& )-.+%72()$*+ 0#*&3.(>&*H$7.)$/'&>$33$+5; #67-*5'+&,'-*H$7'&46&%2,'-*H$7'&7$%:28
:.6& 4'& )#-*25#& .%%*($.)$*+& 0$)#& E( Y[[; J'1'+%$+%& .-'& %:.33& Bd& S& >7F& (.)$*+$( ).%';&[+%$7'&)#'&,#.5*36%*%*:'=&)#'&,-$8
D-*%%83$+>$+5& *1& )#'%'& -'(',)*-%& 46& .+)$8 ,-*)'$+%&$+&)#'&,-$:.-6&5-.+23'%&*1&+'28 :.-6&5-.+23'&(*:,*+'+)&:6'3*,'-*H$8
4*76&3'.7%&)*&-.,$7&'+5231:'+)&*1&).-5')% )-*,#$3%& $+/*3/'7& $+& >$33$+5& $+5'%)'7 7.%'&(*+/'-)%&)#'C-*5'+&,'-*H$7'&)*
0$)#&-'3'.%'&*1&5-.+23'&(*+)'+)%&.+7&*H68 C-.:8,*%$)$/'& .+7& C-.:8+'5.)$/'& 4.(8 #6,*#.3*2%&.($7&46&)#'&.77$)$*+&*1&.
5'+&:').4*3$)'%&$+)*&)#'&,#.5*36%*%*:'; )'-$.;& J'1'+%$+%& .-'& %6+)#'%$9'7& 72-$+5 #.3*5'+&B43'.(#&0#'+&)#'&#.3$7'&$%&(#3*8
[1&)#'&).-5')&$%&)**&3.-5'=&7'5-.+23.)$*+&*(8 )#'& ,-*:6'3*(6)'R:6'3*(6)'& %).5'& .% -$7'&$+&+'2)-*,#$3%=&4-*:$7'&$+&'*%$+*8
(2-%&.5.$+%)&)#'&.+)$4*768(*.)'7&%2-1.(';& ,-',-*,',)$7'%=& %)*-'7& ,-'7*:$+.+)36 ,#$3%F;&"#'&UOJV^&*H$7.%'&$%&.&:23)$8
"#'& (*:,3':'+)& -'(',)*-%& DYM& .+7 $+& .& 7'+%'& %24%')& *1& )#'& ,-$:.-6& 5-.+8 ,-*)'$+&(*:,3'H=&0#$(#&$%&:.$+).$+'7&$+
DYP& .-'& 'H,-'%%'7& *+& )#'& %2-1.('%& *1 23'%&.%&,-*,',)$7'%=&.+7&-'3'.%'7&72-$+5 %',.-.)'&:':4-.+'84*2+7&.+7&(6)*%*3$(
+'2)-*,#$3%=&'*%$+*,#$3%=& .+7& 4.%*,#$3%; +'2)-*,#$3& 7'5-.+23.)$*+;& J'1'+%$+% (*:,.-):'+)%;&o+&('33&.()$/.)$*+=&)#'&(68
D*:,3':'+)& -'(',)*-& M& $%& 7'%$5+.)'7 ,-'1'-& .+& .()$/'36& :').4*3$9$+5& ).-5') )*%*3$(&(*:,*+'+)%&)-.+%3*(.)'&)*&)#'
78<=&.+7&$%&1*2+7&*+&:.+6&('33&)6,'%; .+7& (.+& >$33& )-.+%1*-:'7& :.::.3$.+ ,#.5*36%*%*:'&:':4-.+'=&-'%23)$+5&$+
[)& 4$+7%& DP4& .+7& '+#.+('%& $)%& 7'5-.7.8 ('33%& .%& 0'33& .%& ,-*>.-6*)'%& .+7& 6'.%)%; .+&.()$/'&UOJV^&*H$7.%'=&0#$(#&(.+
)$*+&)*&DP75&46&1.()*-&[=&)#'-'46&-':*/8 J'1'+%$+%& .+7& WV[& .()& %6+'-5$%)$(.336 ,-*72('&)#'&-'%,$-.)*-6&42-%);
$+5& )#.)& :*3'(23'& 1-*:& 12-)#'-& .()$/.8 .5.$+%)& C-.:8+'5.)$/'& 4.()'-$.;& J'8 "#'&(*:,*+'+)%&*1&)#'&UOJV^&*H$8
)$*+& *1& )#'& .3)'-+.)$/'& ,.)#0.6;& DYP= 1'+%$+%& .-'& -'72('7&$+& )#'& D^<&42)& .48 7.%'& .-'& +.:'7& 4"%C& B4".5*(6)'& %C$8
DJMM4RDJMT=& 4$+7%& $DP4& .+7& @4-$+*8 %'+)&$+&%,'($@(&5-.+23'&7'@($'+(6; 7.%'F&,-*)'$+%;&,NN,#*H&.+7&5,QM,#*H&.-'
5'+&.%&0'33&.%&('-).$+&4.()'-$.=&,.-.%$)'%= V-*)'$+.%'& P& $%& )#'& .+)$5'+& .5.$+%) )#'& & .+7& & (#.$+%=& -'%,'()$/'36=& *1& )#'
.+7& 12+5$;&DYM&.+7&DYP&.-'&+*)&,'-& %' 0#$(#&)#'&.+)$+'2)-*,#$3&(6)*,3.%:$(&.+8 (6)*(#-*:'& 4!!T& (*:,3'H=& 0#$(#& -'8
.43'& )*& %)$:23.)'& ,#.5*(6)*%$%=& 42)& $+ )$4*76&$%&7$-'()'7&$+&m'5'+'-&5-.+23*:.8 %$7'%&$+&)#'&0.33&*1&)#'&%'(*+7.-6&5-.+8
)#'&,-'%'+('&*1&.&%'(*+7&%$5+.3=&%2(#&.% )*%$%&B%''&D#.,;&MK!F;&[)&$%&1*2+7&,-'7*:$8 23';& "#'& (6)*%*3$(& (*:,.-):'+)& (*+8
*+'&5$/'+&)#-*25#&E( Y&*-&46&(6)*>$+'%= +.+)36& $+& ,-$:.-6& 5-.+23'%& 42)& $%& .3%*& $+ ).$+%& )#-''& 1.()*-%=& ,SI,#*H=& ,KI,#*H=
,#.5*(6)*%$%&,-*(''7%;& %'(*+7.-6& .+7& %'(-')*-6& 5-.+23'%;& <6+8 ,SL,#*H&.+7&)#'&%:.33&52.+$+'&+2(3'*)$7'
)#'%$%&.+7&%2-1.('&7$%,3.6&.-'&2,-'523.)'7 B52.+$+'& )-$,#*%,#.)'F& 4$+7$+5& ,-*)'$+
J:>F57CHJH.?B.QC==C7; U'2)-*,#$3& 5-.+8 46&(6)*>$+'%&%2(#&.%&"UE8 ;&a3.%).%'&$%&. (&!;&O%%':436&*1&)#'&UOJV^&(*:,3'H&$%
23'%& (*+).$+& '+96:'%& .+7& ,-*)'$+%& 1*- :6'3*$7&%'-$+'&,-*)'.%'&$+&,-$:.-6&5-.+8 (.2%'7& 46& 7$/'-%'& %)$:23$;& ,SI,#*H& .+7
>$33$+5&$+5'%)'7&4.()'-$.&.+7&12+5$;&<*:' 23'%&)#.)&#.%&-':.->.43'&-*3'%&$+&#*%)&7'8 ,KI,#*H&(*+).$+&-(!8#*:*3*56&)6,'&P&7*8
*1&)#'%'&4.()'-$($7.3&:'(#.+$%:%&.-'&7'8 1'+%';&G$('&0$)#&'3.%).%'&7'1'()%&#./'&7'8 :.$+%& B<^P& 4*H'%F=& 0#$(#& 4$+7& )*& ,-*8
,'+7'+)& *+& )#'& 5'+'-.)$*+& *1& *H65'+ (-'.%'7& -'%$%).+('& )*& C-.:8+'5.)$/' 3$+'8-$(#&).-5')%&$+&)#':%'3/'%&.+7&*)#'-
:').4*3$)'%&1*-&:$(-*4$($7.3&.()$/$)6=&42) 4.()'-$.;& ^*0'/'-=& #2:.+& +'2)-*,#$3 :':4'-%&*1&)#'&UOJV^&(*:,3'H;&<)$:8
*)#'-%&.-'&+*);&[+&.77$)$*+&)*&:*4$3$9$+5 '3.%).%'&7'@($'+(6&(.2%'%&%'/'-'&(*+5'+$8 23.)$*+& 3'.7%& )*& %)-2()2-.3& (#.+5'%& $+
)#'$-&*0+&-'%*2-('%=&+'2)-*,#$3%&,-*72(' ).3& +'2)-*,'+$.& .+7& (6(3$(& +'2)-*,'+$.; ,SI,#*H& )#.)& ,-*:*)'& $)%& $+)'-.()$*+
.& :23)$)27'& *1& (6)*>$+'%& )#.)& %)$:23.)' V#*%,#*3$,.%'&ON&$%&.3%*&1*2+7&$+&+'2)-*8 0$)#& ,NN,#*H& )#-*25#& ,SI,#*H& <^P& 7*8
.+7& .))-.()& *)#'-& ,#.5*(6)'%& .%& 0'33& .% ,#$3&5-.+23'%=&0#'-'&$)%&/.-$*2%&$%*1*-:% :.$+%& .+7& ,NN,#*H& D8)'-:$+.3& ,-*3$+'8
36:,#*(6)'%; .()&4*)#&7$-'()36&.+7&%6+'-5$%)$(.336&0$)# -$(#&%'A2'+('%;
WV[&)*&>$33&$+)-.('3323.-&4.()'-$.; V.)#*3*5$(& :2).)$*+%& $+& )#'& 1*2-& -'8
?KI;:7GC7A:1:7A:7@.15@FR5IH W.()'8 \.()*1'--$+& $%& .+& $-*+84$+7$+5& ,-*)'$+ A2$-'7& (*:,*+'+)%& $:,.$-& )#'& 5'+'-.8
-$($7.3R,'-:'.4$3$)68$+(-'.%$+5&,-*)'$+ ,-'%'+)& $+& %,'($@(& 5-.+23'%& .+7& $+& :28 )$*+&*1&,#.5*(6)'&%2,'-*H$7'&.+7&(.2%'
!DM
%*,#$3%=&7'@+'7&.%&)#'&'*%$+*,#$3R4.%*8
DCJ=& .& 7$%'.%'& (#.-.()'-$9'7& 46& -'(2-8
-'+)&3$1'8)#-'.)'+$+5&$+1'()$*+%&0$)#&4.(8 ,#$3& (*3*+6& 1*-:$+5& 2+$);& "#$%& #64-$7 .(-!"(12!$-
)'-$.& .+7& 12+5$& .+7& 'H24'-.+)& 5-.+28 ('33=&0#$(#&#.%&4''+&1*2+7&$+&)#'&($-(28
3*:.&1*-:.)$*+&B%''&D#.,;&MSSF;! 3.)$*+&*1&%24_'()%&0$)#&.)*,$(&7'-:.)$)$%=
$%&(#.-.()'-$9'7&46&5-.+23'&(*+)'+)%&)#.)
%'+%+I$%"3.+
#./'&1'.)2-'%&*1&4*)#& ('33&)6,'%&.%&0'33
1M=K@=C;<;EBC+&=9BGH<=6B;9 .%&46&)#'&'H,-'%%$*+&*1&)#'&[\8!&-'(',)*-
m#'+& +'2)-*,#$3%& .-'& */'-8-'(-2$)'7 .+7& )#'& DD& (#':*>$+'& -'(',)*-=
$+)*& +'2)-*,#$3$(& 7'-:.)*%'%=& )#'6& (.+ DDYP;K& <'/'-.3& $+/'%)$5.)*-%& #./'& .3%*
,-*72('& -'.()$/'& *H65'+& $+)'-:'7$.)'%= 1*2+7&'*%$+*,#$3R4.%*,#$3&(*3*+6&1*-:8
.()$/.)'&,-*)'$+.%'%=&.+7&-'3'.%'&(#':*8 $+5& 2+$)& $+& $+?.:'7& )$%%2'%& *1& %24_'()%
).()$(& (6)*>$+'%=& 0#$(#& (.+& (*+)-$42)' 0$)#& .33'-5$(& 7$%'.%'%;I& W'(.2%'& )#'%' .;AB9;GMB<A+=K7+J;97+@=KK;Le>7KB87>+
)*& )$%%2'& $+_2-6& .+7& $+?.::.)$*+; )$%%2'%& ,-*72('& :.+6& *1& )#'& '*%$+*8 C7<<A+6M=6+9;K@=<<F+=CC;H96+N;K+Q+G7KC796+
"#'-'1*-'=& $)& :.>'%& %'+%'& )*& .$:& )-'.)8 ,#$3*,*$')$+%=&$)&#.%&4''+&,-*,*%'7&)#.) 6;+4+G7KC796+;N+G7KBGM7K=<+J<;;>+<7HD;R
:'+)&)*&%2,,-'%%&)#'&5'+'-.)$*+&*1&-'.(8 'H)-.:'7233.-6& #':.)*,*$'%$%& :.6& *(8 CF67A+;K+<7AA+6M=9+4T5+C7<<A[@@4+;N+
)$/'& *H65'+& $+)'-:'7$.)'%=& )*& $+#$4$) (2-& .)& %$)'%& *1& $+?.::.)$*+;& [\8!=& )#' J<;;>:+
+'2)-*,#$3& .7#'%$*+& .+7& (#':*).H$%= :*%)& %'3'()$/'& '*%$+*,#$38.()$/'& (6)*8
%A+GK;RB9`=@@=6;KF+C7<<AO+6M7BK+GK7AR
.+7&)*&%2,,-'%%&)#'&-'3'.%'&*1&36%*%*:.3 >$+'=& $+72('%& )#'& 7$11'-'+)$.)$*+& .+7
79C7+LB6MB9+6BAAH7+AB67A+BA+HAH=<<F+=AA;CBR
'+96:'%&.+7&(#':*).()$(&1.()*-%; ,-*3$1'-.)$*+&*1&'*%$+*,#$3&,-'(2-%*-%&$+
=67>+LB6M+>BA7=A7>+A6=67A+6M=6+C=9+J7+
J.,%*+'& $%& *1)'+& 2%'7& 1*-& (#-*+$( )#'&4*+'&:.--*0;&O33'-5'+&(#.33'+5'&$+8
>B8B>7>+B96;h+1=K=AB6BC+B9N7C6B;9AO+=6;GBC+
+'2)-*,#$3$(&7'-:.)*%'%&%2(#&.%&7'-:.8 72('%& ,-*72()$*+& *1& '*%$+*,#$3& ,-'(2-8
>BA7=A7AO+WJK;6BC+>BA;K>7KAO+K7=C6B87+
)$)$%& #'-,')$1*-:$%=& %248(*-+'.3& ,2%)23.- %*-%&$+&)#'&4*+'&:.--*0&.+7&-'3'.%'&*1
7;AB9;GMB<B=AO+=9>+MFG7K7;AB9;GMB<BC+
7'-:.)*%$%=&*-&'-6)#':.&'3'/.)2:&7$2)$8 :.)2-'&'*%$+*,#$3%=&0#$(#&$%&72'&)*&)#'
AF9>K;@7A:+
+2:& B%''& D#.,;& NNKF;& J.,%*+'& %2,8 '+7*(-$+*3*5$(&.()$*+%&*1&)$%%2'87'-$/'7
[\8!&0$)#&.&:*7'%)&(*+)-$42)$*+&46&)#' 'M7F+G<=F+=+K;<7+B9+B99=67+=9>+=>=G6B87+
,-'%%'%&+'2)-*,#$3&.7#'-'+('&.+7&%24%'8
DDYP&3$5.+7=&DD\MM&B'*).H$+F;&[\8P&.+7 B@@H97+K7AG;9A7AO+LMBCM+@=F+7PG<=B9+
A2'+)& :$5-.)$*+=& $%& .& %2(('%%123
CG8D<E&#./'&.3%*&4''+&%#*0+&)*&%)$:8 LMF+6M7F+=K7+GK7A796+B9+9;K@=<O+9;9B9R
%(./'+5'-&*1&-'.()$/'&*H65'+&$+)'-:'7$8
23.)'&'*%$+*,#$3&,-*72()$*+&46&)#'&4*+' `=@7>+6BAAH7A+AHCM+=A+6M7+E=A6K;B967A6BR
.)'%=& .+7& $+)'-1'-'%& 0$)#& )#'& :6'3*,'-8
:.--*0& .+7=& $+)'-'%)$+536=& 4$+7& )*& -'8 9=<+6K=C6+=9>+<F@GM;B>+6BAAH7A:+
*H$7.%'8#.3$7'& %6%)':& .+7& 3'2>*(6)'8
:'7$.)'7& (6)*)*H$($)6;& "#.3$7*:$7' (',)*-%& )#.)& %#.-'& .& (*::*+& & (#.$+ 'MBA+A7C6B;9+K78B7LA+6M7+JB;<;EBC+=C6B;9A+
-'72('%& $+?.::.)$*+& )#-*25#& $+#$4$8 B0$)#&[\8!F&42)&#./'&2+$A2'& &(#.$+%;T ;N+7;AB9;GMB<A+LB6M+G=K6BCH<=K+N;CHA+;9+
)$*+& *1& "UE8 & .+7& %24%'A2'+)& +'2)-*8 G*2%'&%)27$'%&#./'&(*--*4*-.)'7&)#' LM=6+C;96K;<A+7;AB9;GMB<+GK;>HC6B;9O+=C6BR
,#$38'+7*)#'3$.3& .7#'%$*+& .+7& -'.()$/' ,-$:.-6& $:,*-).+('& *1& )#'& (6)*>$+'%= 8=6B;9O+=9>+6BAAH7+6K=NWCDB9E:+
*H$7.+)& 5'+'-.)$*+& B%''& D#.,;& NPKF; [\8!=& .+7& )#'& DD& (#':*>$+'=& DD\MM;Q 1M=K@=C;<;EBC+@=9BGH<=6B;9+;N+7;AB9;R
J.,%*+'& .+7& )#.3$7*:$7'& 4*)#& $+#$4$) E*-& 'H.:,3'=& [\8!& )-.+%5'+$(& :$('& 7'8 GMB<BC+B9`=@@=6B;9+BA+G;AABJ<7+JH6+@;A6<F+
)#' ,-*8$+?.::.)*-6& (6)*>$+'& "UE8 = /'3*,&,'-$,#'-.3&43**7&.+7&)$%%2'&'*%$+8 9;9RAG7CBWCf+M;L787KO+97LO+@;K7+AG7R
0#$(#& .()$/.)'%& +'2)-*,#$3%& )#-*25# *,#$3$.=& 0#'-'.%& )#'& .7:$+$%)-.)$*+& *1 CBWC+A6K=67EB7A+=K7+7@7KEB9E:+
2,-'523.)$*+& *1& (*:,3':'+)& -'(',)*-% +'2)-.3$9$+5& .+)$X[\8!& .+)$4*7$'%& $+
BDYP=& DYSF& .+7& '+7*)#'3$.3& .7#'%$*+ 0$378)6,'&:$('&3'.7%&)*&.&%$5+$@(.+)&-'8
72()$*+& $+& 4.%'3$+'& 3'/'3%& *1& ($-(23.)$+5
:*3'(23'%=& [DOG8M=& .+7& a8%'3'()$+; /B;<;EBC+#H9C6B;9A
D*3(#$($+'& $+#$4$)%& +'2)-*,#$3& (#':*8 '*%$+*,#$3%& .+7& 7$:$+$%#'7& )$%%2'& '*8
).H$%=& -'3'.%'& *1& 36%*%*:.3& '+96:'%= %$+*,#$3$.&$+&-'%,*+%'&)*&$+1'()$*+&0$)# W*)#&$+).()&.+7&7'5-.+23.)'7&'*%$+*,#$3%
.+7&,-*72()$*+&*1&-'.()$/'&*H$7.+)%&.+7 /.-$*2%&,.-.%$)'%&*-&.33'-5'+&(#.33'+5';ML .-'&.&%$5+$@(.+)&(*:,*+'+)&*1&)#'&$+?.:8
$%& )#'-'1*-'& (*+%$7'-'7& 1*-& <0'')& %6+8 [)& $%& $:,*-).+)& )*& +*)'& )#.)& 7'%,$)'& )#' :.)*-6& $+@3)-.)'& $+& :.+6& (2).+'*2%& 7$%8
7-*:'& .+7& +'2)-*,#$3$(& 4233*2%& 7'-:.8 :.%%$/'& '*%$+*,#$3$.& *4%'-/'7& $+& [\8! '.%'%& %2(#& .%& 2-)$(.-$.=& 4233*2%& ,':,#$8
)*%'%;& O+)$4$*)$(%& %2(#& .%& )')-.(6(3$+'%= )-.+%5'+$(& :$('=& )#'%'& :$('& 7*& +*)& 7'8 5*$7=& #'-,'%& 5'%).)$*+$%=& 7-25& '-2,)$*+%=
:.(-*3$7'%=& .+7& :')-*+$7.9*3'& .3%* /'3*,& )#'& )$%%2'& 7.:.5'& *4%'-/'7& $+ $+(*+)$+'+)$.&,$5:'+)$=&.-)#-*,*7&4$)'&$+
#./'& .+)$*H$7.+)& ,-*,'-)$'%& .+7& $+)'-8 '*%$+*,#$3$(& 7$%'.%'%;& "#$%& $%& ,-*4.436 )#$%&3*(.)$*+=&m'33%&%6+7-*:'=&.+7&.)*,$(
1'-'&0$)#&+'2)-*,#$3&(#':*).H$%;&[+&.78 4'(.2%'& '*%$+*,#$3%& :2%)& .3%*& 4'& .()$8 7'-:.)$)$%;MNXMK& E2-)#'-:*-'=& '/.32.)$*+%
7$)$*+& )*& $)%& .+)$*H$7.+)& .()$/$)6=& %238 /.)'7& )*& 7'5-.+23.)'& .+7R*-& -'3'.%' *1&.&/.-$')6&*1&)$%%2'&%.:,3'%&#./'&7':8
1.%.3.9$+'& $+72('%& +'2)-*,#$3& .,*,)*%$% )#'$-& $+?.::.)*-6& :'7$.)*-%;& U*)& %2-8 *+%)-.)'7& )#.)& '*%$+*,#$3%& (.+& 4'& 1*2+7
.+7& '+#.+('%& .7'+*%$+'&-'3'.%'&.)&%$)'% ,-$%$+536=&:$('&7'@($'+)&$+&4*)#&DD\MM $+&36:,#&+*7'%&.+7&%,3''+&.+7&.-'&'%,'8
*1& $+?.::.)$*+=& :.>$+5& $)& '%,'($.336 .+7& [\8!& #./'& )#'& 5-'.)'%)& -'72()$*+& $+ ($.336& ,-*:$+'+)& .1)'-& .33'-5'+& *-& :$(-*8
2%'123&$+&,6*7'-:.&5.+5-'+*%2:; )$%%2'& '*%$+*,#$3%& $+& .%)#:.& :*7'3%;ML 4$.3& $+%23)%;ML& "#$%& *4%'-/.)$*+=& (*2,3'7
"#'& #2:.+& (*--'3.)'& )*& )#$%& 0*237& 4' 0$)#& '/$7'+('& )#.)& '*%$+*,#$3%& (.+& ,-*8
)#'&-'('+)36& -'(*5+$9'7& /.-$.+)&*1& $7$*8 ('%%&.+7&,-'%'+)&.&/.-$')6&*1&.+)$5'+%=&#.%
.(-!"(12!$- ,.)#$(& #6,'-'*%$+*,#$3$(& %6+7-*:' 3'7&)*&)#'&%,'(23.)$*+&)#.)&'*%$+*,#$3%&.-'
B[^a<F&-'1'--'7&)*&.%&)#'&.0$4"%!0')!1D&(): -'(-2$)'7& )*& %'(*+7.-6& 36:,#*$7& %)-2(8
(96;E79F+=9>+,787<;G@796
&*'&B%''&D#.,;&P!F=&0#'-'&.&(3*+.3&,*,28 )2-'%& )*& ,-*:*)'& )#'& ,-*3$1'-.)$*+& *1& '18
a*%$+*,#$3%& 7'/'3*,& .+7& :.)2-'& $+& )#' 3.)$*+& *1& "& ('33%& ,-*72($+5& [\8!& $%& -'8 1'()*-& "& ('33%;& l+7'-& :*-'& 2+$A2'& %$)2.8
4*+'& :.--*0& 1-*:& DJPSi& #':.)*,*$8 %,*+%$43'&1*-&)#'&,-*1*2+7&'*%$+*,#$3$. )$*+%=& '*%$+*,#$3%& .3%*& #*:'& )*& )#'
')$(& ,-*5'+$)*-& ('33%& .+7& .-'& -'3'.%'7 .%& 7':*+%)-.)'7& 46& )#'& 7-.:.)$(& (3$+$8 )#6:2%=&:.::.-6&53.+7%=&.+7&2)'-2%;&[)
$+)*& )#'& ($-(23.)$*+& .%& :.)2-'& ('33%;& a*8 (.3& -'%,*+%'& )*& .+& .+)$X[\8!& B:',*3$8 #.%&4''+&%255'%)'7&4.%'7&*+&)#'&3*(.3$9.8
%$+*,#$3%&%#.-'&)#$%&,-*5'+$)*-&0$)#&4.8 92:.4F&)#'-.,6;MM )$*+& *1& '*%$+*,#$3%& 0$)#$+& )#'& )#6:2%
!DS
.+7&)#'&)$:$+5&*1&)#'$-&:$5-.)$*+=&+.:'36 B<7>@C?7. ?B. ;$57<=:. 1$?@:C7H. 57A GWV&.+7&aDV&.-'&)#*25#)&)*&#./'&,-*8
72-$+5&)#'&+'*+.).3&,'-$*7=&)#.)&)#'6&:.6 $:=:5H:A.1$?A<>@H a*%$+*,#$3% (*+8 (*.523.+)& .()$/$)6& 72'& $+& ,.-)& )*& )#'$-
4'& $:,*-).+)& 1*-& )#6:*(6)'& 7'3')$*+; ).$+& :.+6& %24%).+('%& B(.)$*+$(& 5-.+23' .4$3$)6&)*&+'2)-.3$9'&#',.-$+&.+7&)#'$-&'18
G2-$+'& :*7'3%& .3%*&%255'%)& )#.)& '*%$+*8 ,-*)'$+%=& .-.(#$7*+$(& .($7X7'-$/'7& 3$,8 1'()%&*+&,3.)'3')&.()$/.)$*+;NM&"#-*:4*%$%
,#$3%& .-'& $:,*-).+)& 1*-& ,*%)+.).3& :.:8 $7%=C-*36)$(&'+96:'%=&+'2-*,',)$7'%= #.%&4''+&+*)'7&$+&[^a<=&$+(327$+5&%'/'-.3
:.-6& 53.+7& 7'/'3*,:'+)& .+7& )#'$-& -'8 -'.()$/'&*H65'+& %,'($'%=&.+7&(6)*>$+'%R (.%'& -',*-)%& *1& #',.)$(& /'$+& *4%)-2()$*+
(-2$):'+)&$+)*&)#'&2)'-2%&#'-.37%&'%)-2%;MI (#':*>$+'%F&)#.)&:'7$.)'&$+?.::.)$*+ BW2778D#$.-$&%6+7-*:'F;&"#'&')$*3*56&*1
[+)'-'%)$+536=& '*%$+*,#$3%& .-'& -'%$7'+) B%'' ".43'&PL8MF=&,-*4.436&)#'&4'%)&(#.-8 )#$%&)#-*:4*%$%&$%&+*)&(*:,3')'36&(3'.-;&[)
('33%&$+&)#'&3.:$+.&,-*,-$.&*1&:2(#&*1&)#' .()'-$9'7& *1& )#'%'& .-'& )#'& (.)$*+$(& ,-*8 (*237& 4'& )#'& -'%23)& *1& 7$-'()& '+7*)#'3$.3
5.%)-*$+)'%)$+.3&)-.()&.+7&$)&$%&)#*25#)&)#.) )'$+%;NM& O33& *1& )#'%'& ,-*)'$+%& #./'& 4''+ 7.:.5'&*-&72'&)*&)#'&,-*(*.523.+)&.()$/8
-'.()$*+%&,3.6&.&-*3'&$+&#*%)&7'1'+%';&"#' %#*0+&)*&$+72('&7$-'()&)$%%2'&7.:.5'&)* $)6&*1&GWV&.+7&aDV;NQ&O77$)$*+.336=&GWV
-'(-2$):'+)& *1& '*%$+*,#$3%& )*& )#'& 5.%8 4*)#& #*%)& ('33%& B:6*(6)'%=& '+7*)#'3$.3 .+7&aDV&+'2)-.3$9'&#',.-$+&.+7&GWV&$%&.
)-*$+)'%)$+.3=& )#6:$(=& .+7& :.::.-6& .-8 ('33%=& +'2-*+%=& ',$)#'3$.3& ('33%=& .+7 %)-*+5& ,3.)'3')& .5*+$%);& \.%)=& VOE=& 0#$(#
'.%&.,,'.-%&)*&4'&2+7'-&)#'&(*+)-*3&*1&)#' %:**)#& :2%(3'%& ('33%F& .+7& :$(-*4'% $%& -'3'.%'7& 46& '*%$+*,#$3%=& (.+& (.2%'
DD&(#':*>$+'=&DD\MM;&"#'-'&.-'&:.+6 B,.-.%$)'%& .+7& %*:'& 4.()'-$.F;MT=NS& E*- ,3.)'3')&.55-'5.)$*+;&
,.)#*3*5$(& %).)'%& $+& )#'& 5.%)-*$+)'%)$+.3 'H.:,3'=&GWV=&aDV=&*-&aVo&.,,3$(.)$*+ a*%$+*,#$3%& ,-*72('& %'/'-.3& .-.(#$8
)-.()&0#'-'&'*%$+*,#$3&+2:4'-%&.-'&%248 )*& .$-0.6& ',$)#'3$2:& $+& ,-$:.)'%& ,-*8 7*+$(&.($7&:').4*3$)'%=&.+7&)#'&4'%)&(#.-8
%).+)$.336& $+(-'.%'7& %2(#& .%& 7-25& -'.(8 72('%&($3$*%).%$%=&7'%A2.:.)$*+=&.+7D .()'-$9'7&*1&)#*%'&.-'&1-*:&)#'&!83$,*H68
)$*+%=& #'3:$+)#$(& $+1'()$*+%=& $+?.::.8 ,'--'.()$/$)6& *1& -'%,$-.)*-6& %:**)# 5'+.%'& ,.)#0.6& g3'2>*)-$'+'& DS& B\"DSF=
)*-6& 4*0'3& 7$%'.%'=& 5.%)-*'%*,#.5'.3 :2%(3';N!& "#'& 7.:.5'& )*& )#'& '+7*)#'8 \"JS=&.+7&\"aSh&.+7&)#'&(6(3**H65'+.%'
-'?2H=& '*%$+*,#$3$(& 5.%)-*'+)'-$)$%=& .+7 3$2:&$+&[^a<&$%&)#*25#)&)*&4'&)#'&$+$)$.)8 ,.)#0.6&B)#-*:4*H.+'&WN=&,-*%).53.+7$+
'*%$+*,#$3$(&'%*,#.5$)$%Z&$+&)#'&3.))'-&(*+8 $+5& 1.()*-& $+& )#'& (.-7$*:6*,.)#6& *48 aN=& .+7& ,-*%).53.+7$+& EM ;NN=NP& \"DS& $%
7$)$*+=& )#'-'& $%& .& -',*-)& %255'%)$+5& )#.) %'-/'7&$+&)#'%'&%24_'()%;& )#'&*+36&3'2>*)-$'+'&,-*72('7&$+)-.('3328
)$%%2'&'*%$+*,#$3$.&.+7&7$%'.%'&:.+$1'%).8 O33& 1*2-& *1& )#'& (.)$*+$(& 5-.+23'& ,-*8 3.-36& 46& '*%$+*,#$3%;& \"JS& .+7& \"aS .-'
)$*+%& (.+& 4'& )-'.)'7& 0$)#& .+& .+)$X[\8! )'$+%& 3$>'36& (*+)-$42)'& )*& )#'& '7':.& *48 :').4*3$)'%& *1& \"DS& ,-*72('7& 46& 'H)-.8
)#'-.,6& B:',*3$92:.4F;ML=MTXNL& "#'& %>$+= %'-/'7& $+& :.+6& '*%$+*,#$3$(&7$%'.%'%=&$+ ('3323.-& (3'./.5';& \"DS=& \"JS=& .+7& \"aS
$+& (*+)-.%)& )*& )#'%'& *)#'-& )$%%2'%=& $%& 7'8 ,.-)&72'&)*&)#'&-'3'.%'&*1&#$%).:$+'&1-*: .-'& (.33'7& !0-'#)*0. .#/,%'()#*#-& .+7& #./'
/*$7&*1&'*%$+*,#$3%&'H(',)&72-$+5&,.)#*8 :.%)& ('33%& .+7& 4.%*,#$3%;& "#$%& $%& 12-)#'- %'/'-.3& 4$*3*5$(& '11'()%=& $+(327$+5& 4-*+8
3*5$(&(*+7$)$*+%;& %2,,*-)'7&46&)#'&*4%'-/.)$*+&)#.)&GWV (#*(*+%)-$()$*+=&$+(-'.%'7&.$-0.6&-'.()$/8
$+_'()'7&$+)*&)#'&%>$+&*1:.+%&(.2%'% $)6=& $+(-'.%'7& /.%(23.-& ,'-:'.4$3$)6=& .+7
:?HC7?1FC=. <=@$5H@$<>@<$:. 57A. ;$57G .& 7*%'87','+7'+)& 0#'.38.+78?.-'& -'8 3'2>*(6)'&-'(-2$):'+);&"#'&(6%)'$+63&3'28
<=:.>?7@:7@ B<'' ".43'&PL8MF a*%$+*8 %,*+%';NM&UaYJ<&B+*723'%=&'*%$+*,#$3$.= >*)-$'+'%&'3.4*-.)'7&.)&3'.%)&$+&,.-)&46&'*8
,#$3%&.-'&.,,-*H$:.)'36&T&!:&$+&7$.:')'- -#'2:.)$%:=& 7'-:.)$)$%& .+7& %0'33$+5F= %$+*,#$3%& .-'& :._*-& :'7$.)*-%& *1& .%)#:.
.+7&#./'&.&4$3*4'7&+2(3'2%&.+7&7$%8 4233*2%& ,':,#$5*$7=& #'-,'%& 5'%).)$*+$%= .+7& .33'-5$(& -#$+$)$%=& .+7& )#$%& $%& 12-)#'-
)$+()$/'&(6)*,3.%:$(&5-.+23'%;&a.(#&('33 ',$%*7$(& .+5$*'7':.& 0$)#& '*%$+*,#$3$. 7':*+%)-.)'7& 46& )#'& (3$+$(.3& $:,-*/'8
(*+).$+%&.,,-*H$:.)'36&NL&:':4-.+'8 BC3'$(#&%6+7-*:'F=&2-)$(.-$.=&'*%$+*,#$3$( :'+)& *4%'-/'7& 0$)#& )#'& 3'2>*)-$'+'& .+8
4*2+7=&(*-'8(*+).$+$+5=&%'(*+7.-6&5-.+8 ('3323$)$%& Bm'33%& %6+7-*:'F=&.+7&'/'+& $+8 ).5*+$%)%& B:*+)'32>.%)=& 9.@-32>.%)=& .+7
23'%=&0#$(#&(*+).$+&)#'&4.%$(&,-*)'$+%;NM %'()& 4$)'& -'.()$*+%& 7':*+%)-.)'& /.-$.43' 9$3'2)*+F;& m#')#'-& 3'2>*)-$'+'%& ,3.6& .
"#'%'&5-.+23'%&./$736&).>'&2,&.($7$(&76'% 7'5-''%& *1& '7':.& )#.)& .-'& ,-*4.436& 'H8 -*3'& $+& '*%$+*,#$3$(& 7$%*-7'-%& *1& )#'& %>$+
%2(#&.%&'*%$+&)*&5$/'&)#'&'*%$+*,#$3%&)#'$- ,3.$+'7& .)& 3'.%)& $+& ,.-)& 46& )#$%& :'(#.8 $%& 3'%%& (3'.-;& "#'& ,-'7*:$+.+)& (6(3**H68
(#.-.()'-$%)$(&:$(-*%(*,$(&.,,'.-.+('; +$%:&B%''&D#.,;&P!F;NK 5'+.%'& ,-*72()& *1& '*%$+*,#$3%& $%& )#-*:8
E*2-&#$5#36&4.%$(&,-*)'$+%&.-'&1*2+7 "#'-'&$%&'/$7'+('&)*&%#*0&)#.)&'*%$+*8 4*H.+'&WN=&42)&)#$%&.+7&)#'&*)#'-&:'7$.8
0$)#$+&)#'%'&5-.+23'%]&:._*-&4.%$(&,-*8 ,#$3%& 1-*:& 4*)#& #'.3)#6& .+7& 7$%'.%'7 )*-%& ,-*72('7& )#-*25#& )#$%& ,.)#0.6& .-'
)'$+&BGWVF=&'*%$+*,#$3&(.)$*+$(&,-*)'$+ %24_'()%& ,-*72('& %'/'-.3& +'2-*8.()$/' :$+*-& (*:,.-'7& )*& )#*%'& ,-*72('7& 46
BaDVF=&'*%$+*,#$3&,'-*H$7.%'&BaVoF=&.+7 :'7$.)*-%=& $+(327$+5& GWV=& aJU=& +'-/' )#'&!8&.+7&M!83$,*H65'+.%'&,.)#0.6%;&
'*%$+*,#$387'-$/'7&+'2-*)*H$+&BaJUF; 5-*0)#& 1.()*-=& /.%*.()$/'& $+)'%)$+.3& ,',8 G.+6& #67-*36)$(& '+96:'%& #./'& 4''+
o)#'-&,-*)'$+%&#./'&4''+&1*2+7&$+&)#' )$7'=&.+7&%24%).+('&V;&"#$%=&(*2,3'7&0$)# $7'+)$@'7& $+& #2:.+& '*%$+*,#$3%=& 42)
%'(*+7.-6&5-.+23'%=&$+(327$+5&'+96:'%= )#'&1.()&)#.)&'*%$+*,#$3%&B4*)#&$+).()&.+7 )#'$-&-*3'&$+&7$%'.%'&-':.$+%&3.-5'36&%,'(8
(6)*>$+'%=&5-*0)#&1.()*-%=&.+7&(#':*8 7'5-.+23.)'7F&.-'&*1)'+&*4%'-/'7&$+&(3*%' 23.)$/'& B%''& ".43'& PL8MF;& O-63%231.).%'& W=
>$+'%;&[+&.77$)$*+=&)#'&('33%&(*+).$+&. ,-*H$:$)6& )*& +'-/'& '+7$+5%=& %255'%)% 8532(2-*+$7.%'=& .($7& ,#*%,#.).%'=& (.).8
+2:4'-&*1&,-$:.-6&5-.+23'%=&0#$(#&3.(> %*:'& (-*%%8).3>;NI& a*%$+*,#$38$+72('7 3.%'=& .+7& #$%).:$+.%'& .-'& ,-'%'+)& $+& )#'
.&(*-'&.+7&.-'&*1&/.-$.43'&%$9';&"#'%' +'-/'& 76%12+()$*+& $%& )#*25#)& )*& 4'& -'8 '*%$+*,#$3;& o+& %)$:23.)$*+& 0$)#& [\8!& *-
5-.+23'%&(*+).$+&D#.-(*)8\'67'+&(-6%).3 %,*+%$43'& 1*-& )#'& 5.%)-$(& 76%:*)$3$)6& *48 VOE=&'*%$+*,#$3%&#./'&4''+&%#*0+&)*&-'8
,-*)'$+&B.3%*&>+*0+&.%&E&.#!')*:5FF&)#.) %'-/'7& $+& %24_'()%& 0$)#& 1**7& .33'-5$'%& *- 3'.%'& :.)-$H& :').33*,-*)'$+.%'& Q& BGGV8
$%&.&(#.-.()'-$%)$(&1'.)2-'&*1&.%)#:.)$( )#'& 76%12+()$*+& *1& /.5.3& :2%(.-$+$(& GN QF=&0#$(#&$%&)#*25#)&)*&4'&$:,*-).+)&1*-
%,2)2:&.+7&(.+&4'&1*2+7&$+&4*)#&'*%$+8 -'(',)*-%&*4%'-/'7&$+&.%)#:.)$(%;ML )#'$-&:$5-.)$*+&)#-*25#&4.%':'+)&:':8
*,#$3%&.+7&+'2)-*,#$3%;&U*-:.3&'*%$+*8 aDV&.+7&aJU&.-'&-$4*+2(3'.%'%&.+7&.% 4-.+'%;& D*33.5'+.%'=& 0#$(#& 7'5-.7'%
,#$3%& (*+).$+& @/'& +*+8:':4-.+'X %2(#&#./'&4''+&)#*25#)&)*&,3.6&.&-*3'&$+ )6,'& [& .+7& )6,'& [[[& (*33.5'+=& :.6& ,3.6& .
4*2+7&3$,$7&4*7$'%=&0#$(#&.-'&)#'&,-$+8 /$-.3& #*%)&7'1'+%';& D*2,3$+5& )#$%& @+7$+5 -*3'&$+&)$%%2'&-':*7'3$+5;&
($,.3&%)*-'%&*1&.-.(#$7*+$(&.($7;&"#'6 0$)#& )#'& '/$7'+('& )#.)& '*%$+*,#$3%& 'H8 Y'.()$/'&*H65'+&%,'($'%&.-'&$:,*-).+)
.3%*&(*+).$+&)#'&'+96:'%&(6(3**H65'+8 ,-'%%& "*3383$>'& -'(',)*-%& I& .+7& T& B0#$(# $+& )$%%2'& $+_2-6& $+72('7& 46& '*%$+*,#$3%;
.%'&.+7&!8&.+7&M!83$,*H65'+.%'=&0#$(# 4$+7&%$+53'8%)-.+7'7&YUO&1-*:&/$-.3&-',8 "#'&-'.()$/'&*H65'+&%,'($'%&,-*72('7&$+8
.-'&-'A2$-'7&)*&%6+)#'%$9'&,-*%).53.+8 3$(.)$*+F&:.>'%&$)&(-'7$43'&)#.)&)#'%'&('33% (327'& %2,'-*H$7'& .+7& #67-*5'+& ,'-*H8
7$+%&.+7&3'2>*)-$'+'%;NN=NP .-'&$:,*-).+)&$+&/$-.3&#*%)&7'1'+%';NT $7';&"#'%'&.-'&,-*72('7&46&UOJV^&*H$8
!DT
7.%'&72-$+5&)#'&-'%,$-.)*-6&42-%)&$+$)$.)'7 ^*75>$+&7$%'.%'=&<`9.-6&%6+7-*:'=&.+7 E( YMMM BDJMKF=.32-*+$(&.($7&-'(',8
*+& '*%$+*,#$3& .()$/.)$*+;& ^67-*5'+& ,'-8 5.%)-$(&(.-($+*:.%=&$+&<`9.-6&%6+7-*:' )*-&BDJSSF=&[DOG8M&BDJ!SF=&DJKQ=&.+7
*H$7'& (.+& 5'+'-.)'& #6,*#.3*2%& .($7% B%''&D#.,;&MSKF=&)#'&)2:*-&('33%&,-*72(' ^\O8JY;PK
)#-*25#& )#'& .()$*+& *1& aVo=& 0#$(#& .-' [\8!& .+7& .-'& )#'-'1*-'& -'%,*+%$43'& 1*-
.3%*& (6)*)*H$(;& Y'.()$/'& *H65'+& %,'($'% )#'& '*%$+*,#$3$.;& "#'-'1*-'=& $+& )#$%& )28 H<$B5>:.$:>:1@?$H "#'-'&$%&.&3.-5'&/.8
(.+&.3%*&,-*,.5.)'&)#'& $+?.::.)*-6&-'8 :*-=& )#'& '*%$+*,#$3$.& $%& .& -'?'()$*+& *1 -$')6&*1&-'(',)*-%&,-'%'+)&*+&)#'&%2-1.('
%,*+%'&46&$+72($+5&5'+'&'H,-'%%$*+&.+7 )2:*-& 42-7'+;PN& [+& )#'& (.%'& 0#'-'& '*8 *1&'*%$+*,#$3%&42)&+*&%$+53'&%2-1.('&,-*8
"8('33&,-*3$1'-.)$*+;& %$+*,#$3$.& $%& .& 5**7& ,-*5+*%)$(& 1.()*-= )'$+& $%& 2+$A2'36& 'H,-'%%'7& *+& '*%$+*8
O& /.-$')6& *1& (6)*>$+'%& .+7& (#':*8 )#'&'*%$+*,#$3%&:.6&4'&.&#*%)&-'%,*+%' ,#$3%;& "#'%'& -'(',)*-%& #./'& '$)#'-& 4''+
>$+'%& .-'& ,-*72('7& 46& '*%$+*,#$3%;NM )*&)#'&)2:*-;PP=PS&"#'&%,'($@(&+.)2-'&*1 $7'+)$@'7&46&?*0&(6)*:')-6&*-&46&12+(8
"2:*-& 5-*0)#& 1.()*-& B"CEF8 =& "CE8 = '*%$+*,#$387','+7'+)& .+)$)2:*-& .()$/8 )$*+.3& .%%.6%=& .+7& (.+& 4'& 5-*2,'7& .%
@4-*43.%)& 5-*0)#& 1.()*-8N=& /.%(23.-& '+8 $)6& #.%& +*)& 4''+& %21@($'+)36& 'H,3*-'7 1*33*0%]& (#':*).()$(& 1.()*-& -'(',)*-%
7*)#'3$.3& 5-*0)#& 1.()*-=& +'-/'& 5-*0)# 42)&:.6&$+(327'&7$-'()&(6)*)*H$(&'11'()% B(#':*>$+'=& (*:,3':'+)=& .+7& *)#'-%F=
1.()*-=& ,3.)'3')87'-$/'7& 5-*0)#& 1.()*-8 = *+&)2:*-&('33%&46&aDV%=&.+)$5'+&,-'%'+8 $::2+*53*423$+& .+7& *)#'-& $::2+*8
"UE8 =&[\8M =&[\8N&)#-*25#&8K=&[\8ML=&[\8 ).)$*+=& /.%(23.-& (*:,-*:$%'& /$.& :$(-*8 53*423$+&%2,'-5'+'&1.:$36&:':4'-%=&(68
MN=& [\8MK=& CG8D<E=& [\8T=& DD\P& BG[V8 )#-*:4$&1*-:.)$*+&B%'(*+7.-6&)*&-'3'.%' )*>$+'&-'(',)*-%=&.7#'%$*+& :*3'(23'& -'8
M =& 36:,#*(6)'& (#':*.))-.().+)& 1.(8 *1& #',.-$+.%'%& .+7& VOEF=& *-& %6+'-5$%: (',)*-%=& .+7& .& /.-$')6& *1& -'(',)*-%
)*-=&DD\!&BYOU"a<F=&.+7&DD\MM; 0$)#& )#'& .+)$)2:*-& -'%,*+%'& *1& *)#'- $+/*3/'7&$+&.,*,)*%$%;&
"#'& -'3'.%'& *1& "CE8 & "CE8 @4-*8 3'2>*(6)'%;
43.%)&5-*0)#&1.()*-8N=&/.%(23.-&'+7*)#'8 "#2%=& )#'& .()$*+%& *1& )#'%'& 5-.+23' !"#$%&'(&)(*+'(&%,*-#(#.&%,/0 D#':*).(8
3$.3& 5-*0)#& 1.()*-=& GGV8Q& .+7& $+#$4$8 ,-*)'$+%&.+7&-'3'.%'7&(6)*>$+'%R(#':*8 )$(&1.()*-%&.-'&)#*25#)&)*&4'&$:,*-).+)&$+
)*-%&*1&GGV%&1-*:&'*%$+*,#$3%&.+7&)#' >$+'%& 7'-$/'7& 1-*:& .()$/.)'7& '*%$+*8 *-(#'%)-.)$+5& ('3323.-& )-.1@(>$+5& )*& %$)'%
.4$3$)6& *1& '*%$+*,#$3& :'7$.)*-%& )*& $+8 ,#$3%& .-'& +2:'-*2%& .+7& $+(327'& 7$-'() *1& $+?.::.)$*+& .%& 0'33& .%& ,#6%$*8
72('&,3.)'3')&-'3'.%'&*1&"CE8 =&%255'%)% (6)*)*H$(& '11'()%& *+& %)-2()2-.3& ('33%& .+7 3*5$(&#*:$+5&B';5;=&5.%)-*$+)'%)$+.3&)-.()F;
)#.)& )#'6& .-'& $:,*-).+)& $+72('-%& *1& @8 :$(-*4'%=&$+(-'.%'7&/.%(23.-&,'-:'.4$38 G.+6& (#':*).()$(& .5'+)%& g3'2>*)-$'+'
4-*43.%)& ,-*3$1'-.)$*+& .+7& 'H)-.('3323.- $)6=& ,-*(*.523.+)& '11'()%=& $::'7$.)' WS=& VOE=& 4.()'-$.3& ,-*72()%& B1G\VF=& .+7
:.)-$H& ,-*)'$+%;PL&O1)'-&$+)-.7'-:.3& '*8 #*%)&-'%,*+%'&)*&%*:'&,.-.%$)'%=&/$-2%'%= D!.h&#./'&A2$)'&,*)'+)&'11'()%&*+&'*%$+*8
%$+*,#$3$(& $+@3)-.)$*+=& )#'-'& $%& ,-*72(8 .+7& )2:*-& ('33%=& '+#.+('7& 3'2>*(6)' ,#$3%& 42)& .-'& +*+8%'3'()$/'& $+& )#.)& )#'6
)$*+& *1& )#'& 'H)-.('3323.-& ,-*)'$+%& )'+.%8 :$5-.)$*+=& .:,3$@(.)$*+& *1& '11'()*-& "8 -'(-2$)& :*%)& 3'2>*(6)'%;& W'(.2%'& :.+6
($+&.+7&,-*(*33.5'+&M&.+7&:6*@4-*43.%) ('33& -'%,*+%'%& .+7& ,*%%$436& '/'+& :.:8 '*%$+*,#$3$(& 7$%'.%'%& .-'& (#.-.()'-$9'7
1*-:.)$*+;NT& a*%$+*,#$38$+72('7& @4-*8 :.-6& 53.+7& 7'/'3*,:'+);& D*33'()$/'36= 46& )$%%2'& '*%$+*,#$3$.& 0$)#& 3$))3'& )*& +*
%$%&$%&*4%'-/'7&$+&)#'&32+5%&.+7&#'.-)&*1 )#'%'&/.-$'7&4$*3*5$(&.()$*+%&,-*/$7'&)#' +'2)-*,#$3$.=& )#'& $7'+)$@(.)$*+& *1& :*-'
[^a<&,.)$'+)%&.+7&$+&)#'&%>$+&*1&%24_'()% 'H,3.+.)$*+& 1*-& :*%)& *1& )#'& %$5+%& .+7 %'3'()$/'& (#':*).H$+%=& %2(#& .%& DDYP& 3$8
0$)#& '*%$+*,#$3$(& 1.%($$)$%& B<#23:.+ %6:,)*:%&*4%'-/'7&$+&'*%$+*,#$3$(&%>$+ 5.+7%=&0.%&.+&$:,*-).+)&4-'.>)#-*25#;
%6+7-*:'F=& '*%$+*,#$3$.& :6.35$.& %6+8 7$%'.%'%&B%''&D#.,;&P!F;& O%&0$)#&+'2)-*,#$3%=&%,'($@(&:':4'-%
7-*:'=& *-& )*H$(& *$3& %6+7-*:'& B%'' *1& )#'& (#':*>$+'& 1.:$36& .-'& )#*25#)& )*
D#.,%;&P!&.+7&M!TF;& 5>@CV5@C?7.?B.:?HC7?1FC=H O& /.-$')6& *1 4'&'%%'+)$.3&1*-&)#'&('3323.-&)-.1@(>$+5&*1
V-*72()%& -'3'.%'7& 46& '*%$+*,#$3%& B(#'8 $+?.::.)*-6& :'7$.)*-%& #./'& 4''+ '*%$+*,#$3%;&"#'& 4$+7$+5& *1& (#':*>$+'%
:*.))-.().+)%=&(*3*+68%)$:23.)$+5&1.()*-%= %#*0+&)*&.()$/.)'&'*%$+*,#$3%;&"#'%'&$+8 )*&)#'$-&-'%,'()$/'&-'(',)*-%&*+&)#'&'*%$+8
.+7& '+7*)#'3$.38.()$/.)$+5& (6)*>$+'%F& 1.8 (327'& (6)*>$+'%& B"UE8 =& CG8D<E=& .+7 *,#$3& :'7$.)'%& :.+6& 4$*3*5$(& '11'()%& $+
($3$).)'& 12-)#'-& 3'2>*(6)'& -'(-2$):'+)& )* [\8P& .+7& 8!F=& (*:,3':'+)& (*:,*+'+)% .77$)$*+&)*&('33&%#.,'&(#.+5'&.+7&:$5-.8
%$)'%&*1&$+?.::.)$*+;&O77$)$*+.336=&%*:' BDP.& .+7& D!.F=& 3$,$7& :'7$.)*-%& B\"DS )$*+& %2(#& .%& ('33& .()$/.)$*+=& -'(',)*-& $+8
$+/'%)$5.)*-%&#./'&%255'%)'7&)#.)&'*%$+*8 .+7& VOEF=& (#':*>$+'%& .%& 0'33& .%& '+8 )'-+.3$9.)$*+=&$+72()$*+&*1&)#'&-'%,$-.)*-6
,#$3%&,-'%'+)&.+)$5'+&)*&"&('33%;PM&E*-&'H8 5.5':'+)&*1&[5O&.+7&[5C&E(&-'(',)*-%; 42-%)=&.+7&)-.+%$'+)&.()$/.)$*+&*1&$+)'5-$+
.:,3'=& '*%$+*,#$3%& #./'& 4''+& %#*0+& )* <'/'-.3& :':4'-%& *1& )#'& DD& (#':*8 .7#'%$/'+'%%;
'H,-'%%&%*:'&*1&)#'&-'A2$%$)'&(*8%)$:23.8 >$+' %241.:$36& gDD\!=& DD\I& BGDV8PF= [)& #.%& 4'(*:'& $+(-'.%$+536& (3'.-& )#.)
)*-6& :*3'(23'%& (#.-.()'-$%)$(& *1& )#'& "8 DD\MM=& DD\MS& BGDV8SF=& DD\NS& B'*8 )#'& (#':*>$+'& -'(',)*-& DDYP& .+7& $)%
('33X.+)$5'+& ,-'%'+)$+5& ('33%& %6+.,%'= ).H$+8NFh&)#.)&4$+7&)*&)#'&(#':*>$+'&-'8 :._*-& 3$5.+7%& BDD\!=& DD\MM=& DD\MP=
%2(#&.%&)#'&[\8N&-'(',)*-&BDJN!F=&WI&#*8 (',)*-& DDYP& .-'& .3%*& ,*)'+)& .()$/.)*-% DD\NS=& DD\NKF& ,3.6& .& (-$)$(.3& -*3'& $+
:*3*5%=& .+7& ^\O8JY& B:._*-& #$%)*(*:8 *1& '*%$+*,#$3%;P!& O()$/.)'7& '*%$+*,#$3% 4*)#& )#'& #*:'*%).)$(& .+7& $+?.::.8
,.)$4$3$)6& (*:,3'H& (3.%%& [[F;& CG8D<E 7'/'3*,& .& +2:4'-& *1& ,#'+*)6,$( )$*+8$+72('7&-'(-2$):'+)&*1&'*%$+*,#$3%
%)$:23.)'7&'*%$+*,#$3%&$+72('&"8('33&,-*8 (#.+5'%=& $+(327$+5& .& -'72()$*+& $+& 5-.+8 )*& )$%%2'& %$)'%;ML=P!& U*)& %2-,-$%$+536=& )#'
3$1'-.)$*+& $+& -'%,*+%'& )*& %).,#63*(*((.3 23'%=&/.(2*3$9.)$*+=&.+7&.+&'H,.+%$*+&*1 :*%)& #$5#36& 'H,-'%%'7& (#':*>$+'& -'8
%2,'-.+)$5'+%&B6'&4"0.%!%!!/-&'+)'-*)*H$+% )#'$-& (6)*,3.%:=& 3'.7$+5& )*& .& -'72()$*+ (',)*-&*+:.+&'*%$+*,#$3%&$%&DDYP;&
O=&W=&.+7&aF; $+&('33&7'+%$)6&.+7&.-'&-'1'--'7&)*&.%&"0:
a*%$+*,#$3%&#./'&.3%*&4''+&1*2+7&$+&. 4%2#*-#;&"#'&+2:4'-&*1,*7'+%'&('33% 1$$23%45%625)3*-#(#.&%,/*'37*8#$6#,/*%9
/.-$')6& *1& (.+('-%=& ,.-)$(23.-36& $+& 36:8 ,-'7$()%& .33'-5$(& 7$%'.%'& %'/'-$)6;& O& ('33 &"#*1$$23%45%625)3*:2.#,4#3#*+'$)5;0 [+
,#*:.%=& 3'2>':$.%=& .+7& (*3*+& (.+('-; %2-1.('& :.->'-& )#.)& (.+& 7$%)$+52$%# )#'& $::2+*53*423$+& 1.:$36=& )#'& -'(',8
U2:'-*2%& (3$+$(.3& %)27$'%& %255'%)& )#.) #6,*7'+%'& 1-*:& +*-:*7'+%'& '*%$+*8 )*-& :*%)& #$5#36& 'H,-'%%'7& *+& '*%$+*8
)2:*-%& .%%*($.)'7& 0$)#& )$%%2'& .+7R*- ,#$3%&#.%&+*)&4''+&$7'+)$@'7=&42)&)#'-' ,#$3%&$%&E( YMM&BDJPNF=&0#$(#&4$+7%&.58
,'-$,#'-.3&'*%$+*,#$3$.&#./'& .&:*-'&1.8 .-'& %'/'-.3& %2-1.('& :.->'-%& 0$)#& '+8 5-'5.)'7& [5C=& ,.-)$(23.-36& *1& )#'
/*-.43'&,-*5+*%$%;K&m#'-'.%&$+&*)#'-&)28 #.+('7& 'H,-'%%$*+& *+& $+& /$)-*& *-& $+ %24(3.%%& [5CM& .+7& [5CP;& "#'& 4$+7$+5& *1
:*-%=&)#'6&.-'&)#*25#)&)*&(*+1'-&.&,**- /$/*&.()$/.)'7&*-,*7'+%'&('33%]& G [5C&)*&)#$%&-'(',)*-&(.+&.3)'-&'*%$+*,#$3
,-*5+*%$%=& %2(#& .%& +*723.-& %(3'-*%$+5 $+)'5-$+&BDJMM4F= k&$+)'5-$+&BDJMM(F= %2-/$/.3;& "#'-'& $%& (*+?$()$+5& '/$7'+('
!DU
(*+('-+$+5& )#'&,-'%'+('& *1& )#'&#$5#&.18 *,#$3&%2-/$/.3&.+7&:.6&#./'&%*:'&.+)$8 .+7&CG8D<EF&'+#.+('&('33&%2-/$/.3=&'*%$+8
@+$)6&[5a&-'(',)*-&E( YM&*+&)#'&%2-1.(' '*%$+*,#$3$(&'11'()%&(3$+$(.336;NT *,#$3&:.)2-.)$*+=&(#':*).()$(&-'%,*+%'%=
*1& '*%$+*,#$3%;& E( Y[& BDJTQF=& )#'& [5O .+7&3'2>*)-$'+'&,-*72()$*+;&a*%$+*,#$3%
-'(',)*-=&$%&,-'%'+)&*+&)#'&%2-1.('&*1&'*8 >7"#/)%3*8%5#(25#*-#(#.&%,/0 O7#'%$*+ 1-*:&%24_'()%&0$)#&.)*,$(&7'-:.)$)$%&#./'
%$+*,#$3%& .+7& )#'& 4$+7$+5& *1& [5O& *,8 :*3'(23'&-'(',)*-%&.-'&'H,-'%%'7&*+&)#' $+(-'.%'7&:$5-.)*-6&-'%,*+%'%&$+&/$)-*&)*
%*+$9'7& ,.-)$(3'%& )*& )#$%& -'(',)*-& )-$58 '*%$+*,#$3&('33&%2-1.('&)*&:'7$.)'&)-.18 %'/'-.3&(*::*+&(#':*).H$+%&B+81*-:638
5'-%& .& /.-$')6& *1& $::2+'& '11'()*- @(>$+5&)*&)$%%2'%&.+7&0$)#$+&)$%%2'%=&.+7 :')#$*+6383'2(638,#'+63.3.+$+'=&[\8S=&.+7
12+()$*+%;& "#$%=& (*2,3'7& 0$)#& )#'& 1.() 1*-&5'+'-.3&('338('33&$+)'-.()$*+%&B%''&E$5; VOEF&$+&(*:,.-$%*+&)*&'*%$+*,#$3%&1-*:
)#.)& )#'-'& .-'& :.+6& '*%$+*,#$3%& 1*2+7 PL8MF;PQ&"#'%'&-'(',)*-%&1.33&$+)*&)#-'' 2+.11'()'7&$+7$/$72.3%=&%255'%)$+5&)#.)
$+&)#'&5.%)-*$+)'%)$+.3&)-.()=&%255'%)&)#.) 5-*2,%]&[5<E=&%'3'()$+%&.+7&)#'$-&536(*8 )#'6&0'-'&'H,*%'7&)*&*+'&*1&)#'%'&.()$/.)8
'*%$+*,#$3%& ,3.6& .+& $:,*-).+)& -*3'& $+ ,-*)'$+&(*2+)'-3$5.+7%=&.+7&$+)'5-$+%;&\8 $+5&(6)*>$+'%&$+&/$/*;P&[+&1.()=&[\8!&)-'.)8
:2(*%.3&$::2+$)6; %'3'()$+&BDJKN\F&.+7&V8%'3'()$+&536(*8 :'+)&*1&'*%$+*,#$3%&1-*:&+*-:.3&7*+*-%
G':4'-%& *1& )#'& $::2+*53*423$+& %28 ,-*)'$+&3$5.+78M&BV<C\8M=&DJMKNF&.-' $+72('7&)#'&:$5-.)*-6&-'%,*+%'%&*48
,'-1.:$36& .-'& )6,'& [& )-.+%:':4-.+' 'H,-'%%'7&.)&#$5#&3'/'3%=&0#'-'.%&a8 %'-/'7&$+&'*%$+*,#$3%&1-*:&.)*,$(&7'-:.)$8
:*3'(23'%&)#.)&%#.-'&(*::*+&%)-2()2-.3 %'3'()$+&3$5.+7%&g';5;=&%$.3638\'0$%&k )$%&%24_'()%;SL&<$:$3.-36=&0'&#./'&*4%'-/'7
(#.-.()'-$%)$(%& *1& )#'& 53*423.-& 7*:.$+% BDJM!%Fh&.-'&'H,-'%%'7&.)&/'-6&3*0&3'/8 )#.)&)#'&>$+')$(%&*1&'*%$+*,#$3&-'(-2$):'+)
1*2+7& $+& $::2+*53*423$+%;& [DOG8M '3%;&V8%'3'()$+&.+7&V<C\8M&.-'&)#'&:*%) $+&-'%,*+%'&)*&$+)-.7'-:.3&YOU"a<&(#.38
BDJ!SF& .+7& [DOG8P& BDJ!LF& .-'& 'H8 $:,*-).+)&%'3'()$+&,.$-&$+&'*%$+*,#$3&:$8 3'+5'&.-'&,-*1*2+736&1.%)'-&$+&.33'-5$(&%248
,-'%%'7&*+&'*%$+*,#$3%&.+7& .-'&)#*25#) 5-.)$*+&$+)*&)$%%2'%;T _'()%;SM&a*%$+*,#$3%&1-*:&.)*,$(&7'-:.)$)$%
)*& 4'& $:,*-).+)& $+& 3'2>*(6)'83'2>*(6)' a*%$+*,#$3%& 'H,-'%%& .& /.-$')6& *1& $+)'8 7*+*-%&.3%*&#./'&,-*3*+5'7&('33&%2-/$/.3
.+7&3'2>*(6)'8)$%%2'&('33&.7#'%$*+&2%$+5 5-$+%& B M= N=& .+7& IF& *+& )#'$-& %2-1.('= 'H&/$/*&(*:,.-'7&0$)#&+*-:.3&(*+)-*3%
\EO8MB \ NZ& DJMM.F& .%& $)%& (*2+)'-3$8 0#$(#&1.($3$).)'&)#'$-&.7#'%$*+&)*&'H)-.8 ,-*/$7$+5&12-)#'-&'/$7'+('&)#.)&)#'6&#./'
5.+7&B%''&E$5;&PL8MF; ('3323.-&:.)-$H&,-*)'$+%=&/.%(23.-&('3323.- 4''+&,-$:'7&46&.()$/.)$+5&(6)*>$+'%&3$>'
.7#'%$*+&:*3'(23'&M&BfDOG8MF&BDJMLKF [\8!&$+&/$/*;SN&O3)#*25#&'*%$+*,#$38.()$8
!;&%<)3#*-#(#.&%,/0 D6)*>$+'& -'(',)*-% *+& .()$/.)'7& '+7*)#'3$2:& *-& [DOG8M /.)$+5&(6)*>$+'%&(.+&4'&,-*72('7&46
.-'&,-'%'+)&.)&3*0&3'/'3%&*+&)#'&%2-1.(' ,-'%'+)& *+& -'%)$+5& *-& .()$/.)'7& ',$)#'8 :.+6&('33&)6,'%&B>'-.)$+*(6)'%=&'+7*)#'8
*1& '*%$+*,#$3%;& Y'(',)*-%& 1*-& [\8P 3$2:& .+7& .()$/.)'7& '+7*)#'3$2:;& [+)'8 3$.3&('33%=&:*+*(6)'%=&.+7&"&('33%F&)#'-'&$%
BDJMNPF=& [\8!& BDJMN!F=& .+7& CG8D<E 5-$+%&.-'&(*:,*%'7&*1&)0*&%242+$)%&)#.) %*:'&'/$7'+('&)#.)&'*%$+*,#$3%&)#':8
BDJMMKF&.-'&:*%)&-'.7$36&7')'().43'&.+7 'H$%)& .%& +*+(*/.3'+)36& .%%*($.)'7& #')8 %'3/'%&:.6&4'&.&:._*-&%*2-('&.+7&)#'-'8
.33& %#.-'& .& (*::*+& & (#.$+& BDJMPNF; '-*7$:'-%=& 0$)#& .+& & .+7& .& & %242+$); 1*-'&%255'%)%&)#.)&)#'-'&:.6&4'&.+&.2)*8
a*%$+*,#$3&.()$/.)$*+&#.%&4''+&+*)'7&46 "#' M& $+)'5-$+%& 'H,-'%%'7& *+& '*%$+*8 (-$+'&1''74.(>&3**,;SN&[+)'-'%)$+536=&)#'
.&/.-$')6&*1&*)#'-&(6)*>$+'%&7'%,$)'&)#' ,#$3%&$+(327'& S Bf\O8SF=&0#$(#&4$+7% 3*(.3&-'.()$*+%&*4%'-/'7&$+&-'%,*+%'&)*
1.()& )#.)& )#'$-& -'(',)*-%& .-'& +*)& -'.7$36 )*& fDOG8M& 1*2+7& *+& .()$/.)'7& '+7*8 %24(2).+'*2%&CG8D<E&.7:$+$%)-.)$*+
7')'()'7& 46& ?*0& (6)*:')-6;& "#'%'& $+8 )#'3$2:& .+7& )#'& 'H)-.('3323.-& :.)-$H 5$/'+&.%&.+&.7_2+()&)*&(#':*)#'-.,6
(327']& %)':& ('33& 1.()*-& B(8>$)& -'(',)*-Z ,-*)'$+=& @4-*+'()$+;& a*%$+*,#$3& .7#'8 7':*+%)-.)'&4*)#&$+).()&.+7&7'5-.+23.)'7
DJMMIF=&[EU8 &BDJMMQF=&"UE8 &BDJMNLF= %$*+&)*&@4-*+'()$+&$+72('%&)#'&.2)*(-$+' '*%$+*,#$3%=&%255'%)$+5&)#.)&'*%$+*,#$3&.(8
[\8S&BDJMNSF=&[\8Q&BDJMNQ&.+7&DJMPNF= ,-*72()$*+& *1& '*%$+*,#$3& %2-/$/.3& (6)*8 )$/.)$*+&46&CG8D<E&(*2,3'7&0$)#&(2).+'8
[\8MP & B5,K!F=& [\8N& BDJN!F=& .+7& "CE8 >$+'%& B[\8P=& [\8!=& .+7& CG8D<EF;& "#' *2%&)-.2:.&:.6&4'&%21@($'+)&)*&5')&)$%%2'
-'(',)*-%; *+36& *)#'-& M& $+)'5-$+& 'H,-'%%'7& *+& '*8 -'(-2$):'+);SP
%$+*,#$3%& $%& K M=& 0#$(#& :'7$.)'%& )#'
-#(#.&%,/*13=%5=#7*)3*>.%.&%/)/0 O,*,)*8 4$+7$+5&)*&.+*)#'-&:.)-$H&,-*)'$+=&3.:$8 :7A?@F:=C5=G5>@CV5@C7;.>I@?QC7:H B<''
%$%&,3.6%&.&-*3'&$+&:.+6&4$*3*5$(&,-*8 +$+;& E*2-& N& $+)'5-$+%& .-'& 1*2+7& *+& '*8 D#.,;&MKPF "#'-'& .-'& .)& 3'.%)& )#-''
('%%'%;&J$%'.%'%&(#.-.()'-$9'7&46&'*%$+8 %$+*,#$3%] \ \EO8MF=& G &BG.(8MF= )6,'%&*1&'+7*)#'3$.3&.()$/.)$*+%&)#.)&*(8
*,#$3$.&.-'&)#*25#)&)*&-'%23)&$+&,.-)&1-*: k N=& .+7& J N;& "#'%'& $+)'5-$+%& 4$+7 (2-;& "#'& @-%)& $%& )#'& 'H,-'%%$*+& *1& V8
.&7'3.6'7&*-&7'1'()$/'&.,*,)*)$(&,.)#8 )*&[DOG8M=&8N=&.+7&8PZ&fDOG8MZ&@4-$+8 %'3'()$+=&0#$(#&*((2-%&0#'+&'+7*)#'3$.3
0.6;&a*%$+*,#$3%&1-*:&.)*,$(&7'-:.)$8 *5'+Z& .+7& )#'& (*:,3':'+)& 1-.5:'+)= ('33& m'$4'38V.3.7'& 4*7$'%& .-'& )-.+%8
)$%& ,.)$'+)%&#./'& :.->'736& -'72('7 DP4$;& \.%)=& '*%$+*,#$3%& .3%*& 'H,-'%% ,*-)'7& )*& )#'& ('33& %2-1.('& 'H)-':'36
7'.)#&>$+')$(%&(*:,.-'7&)*&)#*%'&$%*8 S I=& 0#$(#& $%& )#'& 3$5.+7& 1*-& )#'& 52) A2$(>36& .1)'-& 'H,*%2-'& *1& '+7*)#'3$.3
3.)'7&1-*:&+*+8.)*,$(&.+7&'/'+&.$-0.6 :2(*%.3& .77-'%%$+& ('33& .7#'%$*+& :*3'8 ('33%& )*& #$%).:$+'=& 3'2>*)-$'+'%=& .+7& .
.33'-5$(&7*+*-%; ML &a*%$+*,#$3%&'H,-'%% (23'8M&)#*25#)&)*&4'&$:,*-).+)&$+&#*:8 #*%)& *1& *)#'-& $+?.::.)*-6& :'7$.)*-%;
%'/'-.3&b7'.)#&-'(',)*-%=c&%2(#&.%&E.%&-'8 $+5& *1& '*%$+*,#$3%& )*& 5.%)-*$+)'%)$+.3 aH,-'%%$*+&*1&V8%'3'()$+&*+&)#'&'+7*)#'8
(',)*-&BDJQ!F=&<$53'(8T=&DJPL=&DJS!= :2(*%.; S I&.3%*&:'7$.)'%&.7#'%$*+&)* 3$.3& %2-1.('& $+$)$.)'%& 3'2>*(6)'& -*33$+5
D.:,.)#&BDJ!NF=&.+7&DJKQ&.+7&$:8 @4-*+'()$+&.+7&fDOG8M;& B/$.&V<C\8MF=&0#$(#&$%&.+&$:,*-).+)&$+$8
,*-).+)&$+)-.('3323.-&-'523.)*-%&*1&'*%$+8 )$.3& %)',& 4'1*-'& @-:& .7#'%$*+& .+7
*,#$3&.,*,)*%$%&%2(#&.%&)#'&:':4'-%&*1 )-.+%'+7*)#'3$.3& :$5-.)$*+;& O& %'(*+7
'BAAH7+'K=NWCDB9E+
)#'&W8('33&3'2>':$.R36:,#*:.&BW(3F8N )6,'&*1&'+7*)#'3$.3&.()$/.)$*+&$%&)#.)&$+8
.+7&$+#$4$)*-&*1&.,*,)*%$%&1.:$3$'%; PI "#'&%'3'()$/'&-'(-2$):'+)&*1&'*%$+*,#$3% 72('7& 46&+*+%,'($@(&.()$/.)*-%&%2(#&.%
a*%$+*,#$3&.,*,)*%$%&$%&*+'&:'(#.+$%: $+)*& %$)'%& *1& $+?.::.)$*+& $%& 3.-5'36& . [\8M&.+7&"UE8 ;&"#'%'&(6)*>$+'%&%)$:28
46&0#$(#&532(*(*-)$(*$7%&3*0'-&'*%$+*8 12+()$*+& *1& '*%$+*,#$38.()$/.)$+5& (6)*8 3.)'&'+7*)#'3$.3&'H,-'%%$*+&*1&a8%'3'()$+=
,#$3&(*2+)%&.+7&)#$%&'11'()&(.+&4'&*/'-8 >$+'%=& '+7*)#'3$.38.()$/.)$+5& (6)*>$+'%= [DOG8M=& .+7& fDOG8M;& "#'6& .3%*& $+8
(*:'&46&)#'&.()$*+%&*1&[\8P=&[\8!=&.+7 .+7&(#':*>$+'%&B%''&E$5;&PL8MF; 72('& ,-*72()$*+& *1& (#':*>$+'%& 46& '+8
CG8D<E;PT&[+)'-'%)$+536=&3$7*(.$+'&.+7 7*)#'3$.3& ('33%;& "#'& )#$-7& )6,'& *1& '+7*8
%231*+632-'.%&B%2(#&.%&53642-$7'F&(.+ :?HC7?1FC=G5>@CV5@C7;.>I@?QC7:H "#' )#'3$.3&.()$/.)$*+&$%&)#.)&$+72('7&46&[\8S
.3%*&$+#$4$)&)#$%&(6)*>$+'8$+72('7&'*%$+8 '*%$+*,#$38.()$/.)$+5&(6)*>$+'%&B[\8P=&[\8!= .+7& [\8MP;& "#'%'& (6)*>$+'%& %'3'()$/'36
!D"
$+72('& fDOG8M=& 0#$(#& $%& ('+)-.336& $+8 <'/'-.3& :6'3*%2,,-'%%$/'& 7-25%& g#68 #./'& 4''+& %#*0+& )*& $+#$4$)& .33'-5'+8
/*3/'7& $+& )#'& -'(-2$):'+)& *1& f\O8SX 7-*H62-'.=& $+)'-1'-*+%& B[EUF& .+7& (.38 $+72('7& '*%$+*,#$3& -'(-2$):'+)& $+& #28
,*%$)$/'&('33%=&$+(327$+5&'*%$+*,#$3%=&4.8 ($+'2-$+& .+).5*+$%)%h& .-'& 4'+'@($.3& $+ :.+& %>$+& H'+*5-.1)%& 1-*:& .33'-5$(& %248
%*,#$3%=& .+7& 36:,#*(6)'%& $+)*& %$)'%& *1 '*%$+*,#$3$(& 7$%*-7'-%& .3*+'& *-& .%& %)'-8 _'()%;& "0*& (*:,.+$'%& BC3.H*8<:$)#p3$+'
.33'-5$(&$+?.::.)$*+; *$78%,.-$+5&.5'+)%;N&[EU%&.-'&)#*25#)&)* .+7& W-$%)*38G6'-%& <A2$44F& #./'& DDYP
"#'& $+$)$.3& %)',& *1& '*%$+*,#$3& -'(-2$)8 .()& 46& $+#$4$)$+5& '*%$+*,#$3& 7'5-.+23.8 .+).5*+$%)%&$+&,#.%'&[&*-&[[&%)27$'%&1*-&2%'
:'+)&$+/*3/'%&-*33$+5&*+&'+7*)#'3$.3&%'8 )$*+&.+7&$+?.::.)*-6&:'7$.)*-&-'3'.%'; $+&.)*,$(&.$-0.6&7$%'.%'%;ST
3'()$+%&B.+7&,'-#.,%&)#'&\8%'3'()$+&(*2+8 [EU8 & $%& ,-$:.-$36& 2%'7& .%& .& %)'-*$78 "#'&'*%$+*,#$3&$%&(3'.-36&.&:23)$12+(8
)'-3$5.+7&*-&fDOG8MF;&"#$%&$%&1*33*0'7 %,.-$+5& .5'+)& $+& %24_'()%& 0$)#& )#' )$*+.3& ('33& 0#*%'& *-$5$+.3& 12+()$*+& 0.%
46&.&@-:&.7#'%$*+=&*-&b)')#'-$+5=c&*1&)#' :6'3*,-*3$1'-.)$/'& /.-$.+)& *1& #6,'-8 ,-$:.-$36&)*&@5#)&,.-.%$)$(&$+1'()$*+%;&O%
'*%$+*,#$3;&Y'('+)&$+&/$)-*&%)27$'%&#./' '*%$+*,#$3$(&%6+7-*:'&B%''&D#.,;&P!F; )#$%& 12+()$*+& $%& 3.-5'36& 2++'('%%.-6& $+
%#*0+& )#.)& )')#'-$+5& *-& @-:& .7#'%$*+ D.3($+'2-$+& .+).5*+$%)%& B(6(3*%,*-$+= 7'/'3*,'7&(*2+)-$'%=&)#'&'*%$+*,#$3&#.%
*1&'*%$+*,#$3%&)*&fDOG8M&*-&[DOG8M&$% Ep!LK=& .+7& ,$:'(-*3$:2%F& .-'& )#*25#) 3$>'36&'/*3/'7&)*&-'%,*+7&)*&*)#'-&'+/$8
.& ,-*('%%& 0#$(#& $%& %24%).+)$.336& $+8 )*& .()& 46& $+#$4$)$+5& "8('33& (6)*>$+'& -'8 -*+:'+).3&$+%23)%=&3'.7$+5&)*&)#'&-$%'&*1
(-'.%'7&46&DDYP&3$5.+7%&BDD\!=&DD\I= 3'.%'& $+(327$+5& (6)*>$+'%& )#.)& $+72(' '*%$+*,#$3$(&7$%'.%'%&%2(#&.%&.)*,6;NS&[)
.+7&DD\MMF;& '*%$+*,#$3$(& $+?.::.)$*+& B[\8S=& [\8!= #.%&4'(*:'&(3'.-&)#.)&'*%$+*,#$3%&,3.6&.
.+7& CG8D<EF;& "*,$(.3& ).(-*3$:2%& #.% -*3'&$+&.33'-5$(&7$%'.%'%=&@4-*)$(&7$%'.%'%=
>F:J?QC7:H "#'& )-.+%$)$*+& 1-*:& -*338 4''+&%#*0+&)*& 7'(-'.%'&)#'& 'H,-'%%$*+ .+7&.+)$)2:*-&#*%)&-'%,*+%';PL&o+36&-'8
$+5&*+&)#'&'+7*)#'3$.3&%2-1.('&)*&@-:&.78 *1&DD\!=&DD\MM=&.+7&[\8!&$+&.)*,$(&7'-8 ('+)36& #.%& $)& 4''+& -'(*5+$9'7& )#.)& $)& $%
#'-'+('& $%& :'7$.)'7& 46& (#':*>$+'%& *+ :.)$)$%=&0#$(#&0.%&*4%'-/'7&$+&(*+_2+(8 ,-'%'+)& 2+7'-& b+*-:.3c& (*+7$)$*+%& $+
)#'&'+7*)#'3$.3&%2-1.(';&[+72()$*+&*1& )#' )$*+&0$)#&.&7'(-'.%'&$+&)$%%2'&'*%$+*,#$3 ,.-)%& *1& )#'& 5.%)-*$+)'%)$+.3& )-.()& .+7
'H,-'%%$*+& *1& (#':*>$+'%& 46& .()$/.)'7 (*2+)%;SK& \'2>*)-$'+'& .+).5*+$%)%=& $+8 36:,#*$7&*-5.+%=&%255'%)$+5&)#.)&$)&:.6
'+7*)#'3$.3&('33%&-'%23)%&$+&#$5#'-&3'/'3%&*1 (327$+5&!83$,*H65'+.%'&$+#$4$)*-%&B9$3'28 #./'& .& #*:'*%).)$(& 12+()$*+& .%& 0'33;& O
(#':*>$+'%& *+& *-& +'.-& )#'& '+7*)#'3$.3 )*+F& .+7& (6%\"M& -'(',)*-& .+).5*+$%)% 4'))'-&2+7'-%).+7$+5&*1&)#'&-'3'/.+)&$+8
%2-1.('=& 0#$(#& )-.+%$'+)36& .11'()& M& .+7 B9.@-32>.%)&.+7&:*+)'32>.%)F&#./'&4''+ ?.::.)*-6& /'-%2%& #*:'*%).)$(& 12+(8
N&$+)'5-$+&./$7$)6=&-'%23)$+5&$+&@-:&.7#'8 %#*0+&)*&7'(-'.%'&)$%%2'&'*%$+*,#$3%&$+ )$*+%& *1& )#$%& 3'2>*(6)'& 0$33& 3$>'36& 6$'37
%$*+&*1&)#'&'*%$+*,#$3&)*&)#'&'+7*)#'3$.3 .33'-5$(& %24_'()%& .+7& :.6& 7$:$+$%#& )#' )#'-.,$'%&1*-&'*%$+*,#$3$(&7$%'.%'%& 0$)#
('33;&D#':*>$+'%&,-*72('7&46&%)-2()2-.3 4$*3*5$(& .()$*+%& *1& '*%$+*,#$387'-$/'7 $:,-*/'7&-$%>R4'+'@)&-.)$*%;
('33%& %2(#& .%& @4-*43.%)%=& %:**)#& :2%(3' 3'2>*)-$'+'%;& \.%)36=& )#'-'& #./'& 4''+
('33%=& .+7& ',$)#'3$2:& .-'& ,-*4.436& :*-' (*+?$()$+5& -',*-)%& -'5.-7$+5& )#'& .4$3$)6
$:,*-).+)&$+&7$-'()$+5&:$5-.)$*+&.+7&.(8 *1& )#'& +'0'-& 5'+'-.)$*+& .+)$#$%).:$+'% i.*+).#.)."3.-
)$/.)$*+&*1&'*%$+*,#$3%&0$)#$+&)$%%2'%;SS B(')$-$9$+'& .+7& 1'H*1'+.7$+'F& )*& $+#$4$) 'M7+NH<<+K7N7K79C7+<BA6+N;K+=<<+CM=G67KA+
'*%$+*,#$3& -'(-2$):'+)& $+& .33'-5'+& (#.38
3'+5'&:*7'3%&*1&)#'&%>$+&*-&.$-0.6%;&
BA+=8=B<=J<7+=6+LLL:>BE@S:C;@:
1M=K@=C;<;EBC+&=9BGH<=6B;9
U'0=& :*-'& %,'($@(& %)-.)'5$'%& #./' M; U.)#.+& D]& U'2)-*,#$3%& .+7& $::2+$)6]
G.+6& ./.$3.43'& )#'-.,$'%& B532(*(*-)$8 ':'-5'7]& 1*-& 'H.:,3'=& :',*3$92:.4& B. D#.33'+5'%& .+7& *,,*-)2+$)$'%;& +&'1 G#D
;$$/*%. !]MIP=&NLLK
(*$7%=&(.3($+'2-$+&.+).5*+$%)%=&:6'3*%2,8 #2:.+$9'7&:*+*(3*+.3&.+)$4*76&)*&[\8!F
N; E.2-%(#*2&G=&W*--'5..-7& U]& U'2)-*,#$3
,-'%%$/'&7-25%=&[EU8 =&[EU8 =&3'2>*)-$'+' 7'(-'.%'%&,'-$,#'-.3&'*%$+*,#$3&(*2+)%&$+ 5-.+23'%&.+7&%'(-')*-6&/'%$(3'%&$+&$+?.:8
.+).5*+$%)%=&.+7&,*%%$436&'/'+&.+)$#$%).8 )#'& :._*-$)6& *1& #6,'-'*%$+*,#$3$(& %248 :.)$*+; >)!(%H#-1;*I#!' "]MPMI=&NLLP
:$+'%F& $+#$4$)& '*%$+*,#$3$(& $+?.::.8 _'()%& .+7& 7':*+%)-.)'7& .& :*7'-.)'& $:8 P; V#.:& D"]& U'2)-*,#$3& %'-$+'& ,-*)'.%'%]
)$*+Z&#*0'/'-=&+*+'&$%&%,'($@(&1*-&'*%$+8 ,-*/':'+)&$+&%:.33&)-$.3&$+&%24_'()%&0$)# <,'($@(&-'523.)*-%&*1&$+?.::.)$*+;&+&'
G#D1;$$/*%.1!]!SM=&NLLK
*,#$3%;& C32(*(*-)$(*$7%& .-'& )#'& :*%) .)*,$(& 7'-:.)$)$%;T=SI& [:.)$+$4& :'%63.)'= S; q'+&p=&V.->*%&DO]&\'2>*(6)'8',$)#'3$.3
'11'()$/';&"#'6&.-'&)#*25#)&)*&.11'()&)$%8 .&)6-*%$+'&>$+.%'&$+#$4$)*-&l;<;&E**7&.+7 $+)'-.()$*+%; 7/((1J4)*17#..1?)%. #"]!!I=
%2'&'*%$+*,#$3&$+@3)-.)$*+&46&)#-''&:'(#8 J-25& O7:$+$%)-.)$*+X.,,-*/'7& 1*-& )#' NLLP
.+$%:%]& $+72()$*+& *1& '*%$+*,#$3& .,*,)*8 )-'.):'+)&*1&(#-*+$(&:6'3*5'+*2%&3'2>'8 !; <'5.3& W^& ')& .3]& C'+')$(=& 4$*(#':$(.3=
.+7&(3$+$(.3&1'.)2-'%&*1&(#-*+$(&5-.+23*8
%$%=& -'72()$*+& *1& '*%$+*,#$3& ,-*72()$*+ :$.=& #.%& ,-*72('7& (*:,3')'& *-& +'.-
:.)*2%& 7$%'.%';& >#2)!)*#1 @?&.')$%(#B
46& 4*+'& :.--*0=& .+7& $+#$4$)$*+& *1& )#' (*:,3')'& -':$%%$*+%& 1*-& #6,'-'*%$+*8 $%]MIL=&NLLL
,-*72()$*+&*1&)#'&(6)*>$+'%&.+7&(#':*8 ,#$3$(& (.%'%& .%%*($.)'7& 0$)#& ,3.)'3')8 K; W..)_'%& Oe& ')& .3]& O+)$8.33'-5$(& )#'-.,$'%]
>$+'%& $:,*-).+)& $+& '*%$+*,#$3& )-.1@(>8 7'-$/'7& 5-*0)#& 1.()*-& -'(',)*-& -'.-8 a11'()%&*+&'*%$+*,#$3&,-*5'+$)*-%;&A"&(:
$+5;PT=S!& <)'-*$7%& .3%*& %2,,-'%%& )#'& ,-*8 -.+5':'+)&0#$(#&#.%&>$+.%'&.()$/$)6&B%'' $&!%.1K"#( %"]KP=&NLLN
T; <$:*+& J=& W-..)#'+& \Y=& <$:*+& ^l]
72()$*+& *1& %'/'-.3& (6)*>$+'%& $:,*-).+) D#.,;& P!F;& [+& )#'%'& %24_'()%=& )#'& (3$+$(.3 a*%$+*,#$3%& .+7& .)*,$(& 7'-:.)$)$%;
1*-& )#'& $+72()$*+& *1& .7#'%$*+& :*3'(23'% -'%,*+%'%& .-'& -.,$7=& 0$)#& +*-:.3$9.)$*+ L..#(E0 "%]&!KM=&NLLS;
*+& '+7*)#'3$.3& ('33%& B[\8M=& "UE8 =& [\8S= *1& '*%$+*,#$3& (*2+)%& 5'+'-.336& *((2--$+5 ML; Y*)#'+4'-5&Ga=&^*5.+&<V]&"#'&'*%$+*8
.+7&[\8MPF&.+7&)#'&-'3'.%'&*1&'*%$+*,#$38 0$)#$+&M&0''>&*1&$+$)$.)$*+&*1&)-'.):'+) ,#$3; L**/1G#D1;$$/*%. &']MSI=&NLLK;
MM; p3$*+& OJ& ')& .3]& O,,-*.(#'%& )*& )-'.)8
.()$/'& (#':*>$+'%& BDD\!=& DD\I=& .+7 .+7& -'/'-%.3& *1& %$5+%& .+7& %6:,)*:%
:'+)& *1& #6,'-'*%$+*,#$3$(& %6+7-*:'%]
DD\MMF;&"#'&$::'7$.)'&B0$)#$+&P&#*2-%F 0$)#$+& M& :*+)#;MM& "#'-'& $%& 3$:$)'7& '/$8 O& 0*->%#*,& %2::.-6& -',*-);& M1 L..#(E0
-'72()$*+& $+& ($-(23.)$+5& '*%$+*,#$3%& *48 7'+('& )#.)& .3':)292:.4=& .& :*+*(3*+.3 7.)*1;$$/*%. ##$]MNQN=&NLLK
%'-/'7& .1)'-& %6%)':$(& .7:$+$%)-.)$*+& *1 .+)$4*76& )*& DJ!N=& 0#$(#& $%& l;<;& E**7 NM; C3'$(#&Ce=&O7*3,#%*+&DY]&"#'&'*%$+*8
%)'-*$7%& $%& )#*25#)& )*& *((2-& .%& .& (*+%'8 .+7& J-25& O7:$+$%)-.)$*+X.,,-*/'7& 1*- ,#$3$(&3'2>*(6)']&<)-2()2-'&.+7&12+()$*+;
L2D1;$$/*%. (%]MII=&MQTK
A2'+('&*1&%'A2'%)-.)$*+&$+)*&'H)-.:'7238 W8('33&36:,#*(6)$(&3'2>':$.&:.6&.3%*&4' NT; G2+$)9& O=& \'/$8<(#.'11'-& E]& a*%$+*8
3.-6& *-5.+%& B3$/'-=& %,3''+=& .+7& 36:,# 2%'123&1*-&)#$%&5-*2,&*1,'-'*%$+*,#$3$( ,#$3%Z&b+'0c&-*3'%&1*-&b*37c&('33%;&L..#(E0
+*7'F&.%&#.%&4''+&%#*0+&$+&-*7'+)%;& 7$%*-7'-%;MM& DDYP843*(>$+5& .+)$4*7$'% "%]NKT=&NLLS
!DD
32%1'.)+4Q .'!($(I*+%",+1%'2(I.".-!-
"#'& ,.)#*5'+'%$%& *1& <0'')& %6+7-*:'
%30'.+#./)!$.+
54'*%.B%W2+(%.
:.6&4'&:23)$1.()*-$.3&.+7&-':.$+%&)*&4'
7'@+$)$/'36& 7')'-:$+'7;& O& %',)$(& ,-*8
".0')(12!$!3
7%'*2,80+(+4
('%%& $%& %255'%)'7& 46& )#'& .((*:,.+6$+5
1'/'-& .+7& ,'-$,#'-.3& 3'2>*(6)*%$%;& [+8
,.)&%'(-!-
A%2O)*,9+9
7''7=& .& 4.()'-$.3& $+1'()$*+& :.6& #./'& .
(.2%.)$/'& -*3'& 4'(.2%'& :*%)& ,.)$'+)% ^-k..'
XHY%%*.HN-32,O%Z
0$)#& (3.%%$(& <0'')& %6+7-*:'& #./'& .
1'4-$3'& 2,,'-& -'%,$-.)*-6& )-.()& $+1'()$*+ -*",)(&._
*-& )*+%$33$)$%&)#.)& ,-'('7'%& )#'$-& %>$+& 3'8
1MB<BG+):+3;M79
27KJ7K6+2j9BEA@=99
%$*+%&46&M&)*&P&0''>%;&O3%*=&<0'')&%6+8
7-*:'& ,.)$'+)%& 0$)#& (23)2-'8(*+@-:'7
%'+%+I$%"3.+
.+7&%'-*3*568(*+@-:'7&N#(-)*)&1#*'#(%.)':
)=Z7<<7+iHKZK;CD
)!&& $+)'%)$+.3& $+1'()$*+& $:,-*/'& 0$)#
%6%)':$(&.+)$4$*)$(%;N=II=MN!XMNI
<0'')& %6+7-*:'& :.6& -'%23)& 1-*:& .
2!-'()* #6,'-%'+%$)$/$)6& -'.()$*+& )*& .+& '3$($)8
$+5& 4.()'-$.3=& /$-.3=& *-& )2:*-& .+)$5'+;
"#'& .,,'.-.+('=& #$%)*,.)#*3*56=& .+7
%+C;9A67<<=6B;9+;N+AF@G6;@A+=9>+W9>B9EAh+
.1!,.&!($(I* (*2-%'& *1& )#'& %>$+& 3'%$*+%& %255'%)& )#$%
6M7+=CH67+;9A76+;N+N787KO+97H6K;GMB<B=O+7KFR
(*+(',);& [+& .77$)$*+=& )#'& ,-*:,)& -'8
"#'& 7$%)-$42)$*+& *1& <0'')& %6+7-*:' 6M7@=6;HAO+=9>+679>7K+ADB9+<7AB;9A+6M=6+
%,*+%'& *1& 4*)#& )#'& %6:,)*:%& .+7& )#'
(.%'%&$%&0*-370$7'=&.+7&)#'-'&$%&+*&-.($.3 6FGBC=<<F+AM;L+=9+HGG7K+>7K@=<+B9W<6K=67+
3'%$*+%& )*& (*-)$(*%)'-*$7%& %2,,*-)%& )#$%
,-'7$3'()$*+;M=N=MN=MKXNL=PL=PM& "#'& 7'-:.)*8 ;N+@=6HK7+97H6K;GMB<A:
#6,*)#'%$%;N=MNI
%$%&,-'%'+)%&$+&)#-''&(3$+$(.3&%'))$+5%&B".8 \'2>*).()$(&:'(#.+$%:%=&7'-:.3&7'+8 3=K>B;8=ACH<=KO+C796K=<+97K8;HA+AFA67@O+
43'&PM8MF;MP=M!&D3.%%$(&*-&$7$*,.)#$(&<0'') 7-*(6)'%=&($-(23.)$+5&.2)*.+)$4*7$'%=&$:8 E=A6K;B967A6B9=<O+M7G=6BCO+@HACH<;AD7<7R
%6+7-*:'&:.6&4'&.%%*($.)'7&0$)#&$+1'(8 :2+'& (*:,3'H'%=& ^\O& %'-*)6,'%=& .+7 6=<O+;CH<=KO+;K=<O+;6BCO+GH<@;9=KFO+K79=<O+
)$*+& B2,,'-& -'%,$-.)*-6& )-.()& *-& 5.%8 (6)*>$+'%& #./'& .33& 4''+& ,*%)23.)'7& )* =9>+AG<79BC+;KE=9A+C=9+J7+B98;<87>:
)-*$+)'%)$+.3& )-.()F=& $+?.::.)*-6& 4*0'3 (*+)-$42)'&)*&)#'&,.)#*5'+'%$%&*1&<0'') 3<=AABC+-L776+AF9>K;@7+@=F+J7+=AA;CBR
7$%'.%'=& *-& ,-'5+.+(6;MP=M!& [)& :*%)& (*:8 %6+7-*:';& D*:,3':'+)& 7*'%& +*)& .,8 =67>+LB6M+B9N7C6B;9+;N+6M7+HGG7K+K7AGBK=6;KF+
:*+36& *((2-%& $+& 0*:'+& 4')0''+& )#' ,'.-& )*& 4'& '%%'+)$.3& )*& )#'& 7$%'.%'& ,-*8 =9>[;K+E=A6K;B967A6B9=<+6K=C6O+B9`=@@=6;KF+
.5'%& *1& PL& 6'.-%& )*& KL& 6'.-%;& ^*0'/'-= ('%%;&[+&%*:'&,.)$'+)%&.+)$4*7$'%&)*&+'28 J;L7<+>BA7=A7O+=9>+GK7E9=9CF:
(3.%%$(& <0'')& %6+7-*:'& .3%*& *((2-%& $+ )-*,#$3$(& (6)*,3.%:$(& .+)$5'+%& #./'
6*2+5'-& .723)%& .+7& (#$37-'+;PNXST& "#' &=<BE9=9CFR=AA;CB=67>+-L776+AF9>K;@7+
4''+&7':*+%)-.)'7Z& #*0'/'-=& )#'%'& .-' ;CCHKA+B9+B9>B8B>H=<A+LB6M+GK78B;HA<F+H9>BR
6*2+5'%)& <0'')& %6+7-*:'& ,.)$'+)%& .-' 3$>'36&)*&-',-'%'+)&.+&',$,#'+*:'+*+;N
4-*)#'-%& 0#*& 7'/'3*,'7& )#'& 7'-:.)*%$% =E9;A7>+;K+K7<=GAB9E+M7@=6;<;EBC+@=<BER
o+& )#'& *)#'-& #.+7=& (6)*>$+'%r7$8 9=9CB7A+=9>+A;<B>+6H@;KAf+B9+6M7A7+
.)&ML&.+7&M!&7.6%&*1&.5';SK -'()36& .+7R*-& $+7$-'()36r:.6& #./'& .+
<'/'-.3&$+/'%)$5.)*-%&(*+%$7'-&$)&.,,-*8 G=6B796AO+-L776+AF9>K;@7+=GG7=KA+=A+=+
')$*3*5$(& -*3'& $+& )#'& 7'/'3*,:'+)& *1 CH6=97;HA+G=K=97;G<=A6BC+AF9>K;@7:
,-$.)'&)*& 7$%)$+52$%#& 4')0''+&)#'& (3.%%$( <0'')& %6+7-*:'& %6:,)*:%& .+7& 3'8
1*-:& .+7& )#'& :.3$5+.+(68.%%*($.)'7 %$*+%;N=NMXNP ,KHERB9>HC7>+-L776+AF9>K;@7+>7ACKBJ7A+
1*-:&*1&)#$%&7$%'.%'&4'(.2%'&)#'&*+%')&*- C8D<E=& 5-.+23*(6)'& :.(-*,#.5'X 6M7+;9A76+;N+6M7+>7K@=6;ABA+B9+G=6B796A+
-'(2--'+('&*1&:.+6&*1&)#'&(.%'%&*1&<0'') (*3*+68%)$:23.)$+5& 1.()*-=&$+)'-1'-*+8 = =N67K+6M7+B9B6B=6B;9+;N+C7K6=B9+@7>BC=R
%6+7-*:'&.-'&)':,*-.336&.%%*($.)'7&0$)# $+)'-3'2>$+& M=& $+)'-3'2>$+& P=& $+)'-3'28 6B;9Al@;A6+C;@@;9<F+EK=9H<;CF67R
)#'&7$%(*/'-6&*-&-'3.,%'&*1&(.+('-;M!=SQXKL >$+& K=& .+7& $+)'-3'2>$+& T& .-'& ,*)'+)$.3 C;<;9F+A6B@H<=6B9E+N=C6;K:
G.3$5+.+(68.%%*($.)'7& <0'')& %6+7-*:' (6)*>$+'& (.+7$7.)'%& $+& )#'& ,.)#*8 3F6;DB97A+@=F+M=87+=9+B@G;K6=96+K;<7+B9+
7*'%& +*)& #./'& .& 1':.3'& ,-'7*:$+.+(' 5'+'%$%;N=MP=NMXNP=SS=MNTXMPN 6M7+G=6M;E797ABA:+
.+7& $%& :*%)& *1)'+& .%%*($.)'7& 0$)#& .(2)'
'M7+WKA6R<B97+;K=<+AFA67@BC+=E796A+N;K+
:6'3*5'+*2%& 3'2>':$.;KM=KN& [+& <0'')
6K7=6B9E+-L776+AF9>K;@7+=K7+C;K6BC;A67KR
%6+7-*:'& ,.)$'+)%& 0$)#& 7'-:.)*%$%8 3$!"!3%$+#!",!"I-
;B>AO+G;6=AABH@+B;>B>7O+=9>+C;<CMBCB97:
-'3.)'7& %*3$7& )2:*-%=& (.-($+*:.%& *1& )#'
2BA6;KF ';GBC=<+=GG<BC=6B;9+;N+MBEM+G;679CF+C;K6BC;R
5'+$)*2-$+.-6& *-5.+%=& 4-'.%)=& .+7& 5.%8
)-*$+)'%)$+.3&)-.()&.-'&)#'&:*%)&1-'A2'+)36 <0'')& %6+7-*:'&,.)$'+)%&:.6& .,,'.- A67K;B>A+;K+B96K=<7AB;9=<+C;K6BC;A67K;B>A+@=F+
*((2--$+5&(.+('-%;M=N=KPXKK 7-.:.)$(.336& $33;& "#'& %>$+& '-2,)$*+& $% J7+7NWC=CB;HA+N;K+6K7=6B9E+<;C=<BZ7>+<7AB;9A:
O&7-258$+72('7&/.-$.+)&*1&)#'&7'-:.8 2%2.336&.((*:,.+$'7&46&1'/'-&.+7&3'28
)*%$%& #.%& .3%*& 4''+& 7'%(-$4'7;MP=KI=KT& [) >*(6)*%$%;& ^*0'/'-=& )#'& %>$+& 7$%'.%'
3H6=97;HA+$7AB;9A
#.%& :*%)& 1-'A2'+)36& 4''+& *4%'-/'7& )* (.+&1*33*0&)#'&1'/'-&46&%'/'-.3&7.6%&)*
*((2-& $+& .%%*($.)$*+& 0$)#& )#'& .7:$+$%8 0''>%& *-& 4'& (*+(2--'+)36& ,-'%'+) <>$+& 3'%$*+%& *1& <0'')& %6+7-*:'& )6,$8
)-.)$*+& *1& 5-.+23*(6)'8(*3*+6& %)$:23.)8 0$)#& )#'& 1'/'-& 1*-& )#'& '+)$-'& ',$%*7' (.336&.,,'.-&.%&)'+7'-=&-'7=&*-&,2-,3'8-'7
$+5& 1.()*-& BC8D<EF;M=N& ^*0'/'-=& %'/'-.3 *1& )#'& 7'-:.)*%$%;& O-)#-.35$.=& 5'+'-.3 ,.,23'%& *-& +*723'%;& "#'& '-2,)$*+& :.6
*)#'-&:'7$(.)$*+%&#./'&.3%*&4''+&$:,3$8 :.3.$%'=& #'.7.(#'=& .+7& :6.35$.& .-' ,-'%'+)&.%&.&%$+53'&3'%$*+&*-&:23)$,3'&3'8
(.)'7& $+& '3$($)$+5& 7-258$+72('7& <0'') *)#'-& <0'')& %6+7-*:'X.%%*($.)'7 %$*+%&0#$(#&.-'&*1)'+&7$%)-$42)'7&.%6:8
%6+7-*:';MM=MP=MI=PQ=SM=KQXMNS %6:,)*:%;M=N=NP :')-$(.336& BE$5;& PM8MF;& "#'& ,-*+*2+('7
!D#
!"#$%&'*)*
3/.%.A$/&B($)"*(2&.%&4$).(%)2&C.)-&=C(()&=D%0*+#(
3<6'638<&B>57
!178@><>:63
3<8==63$ 78<6:'8'39$ =><6? ?5;:H6'?;31?I
3!8583@156=@63 EFG EFG @;7>5$&EFG EFG
.GB>7@B;<;EF
Y k;@79 g5 T5 T\ SQ
Y 1KB;K+HGG7K+K7AGBK=6;KF+6K=C6+ STe\5 Qa U5 UQ
B9N7C6B;9
Y )7CHKK79C7C 45 a\ ]Q aS
3<B9BC=<+AF@G6;@A
Y #787K> g5e\5 gg S\ Q55
Y &HACH<;AD7<76=<+B98;<87@796 QUeTa Ua 4] UQ BC;<$:.MLGL 09B<=67K=<+ <7AB;9A+ ;N+ -L776
Y (CH<=K+B98;<87@796 QSeSU S QT UQ AF9>K;@7+=K;H9>+6M7+7F7+=9>+HGG7K+<BG+C;9ABA6R
$7AB;9+<;C=6B;9 B9E+;N+G<=VH7A+=9>+GA7H>;87ABCH<=K+G=GH<7A+AHER
Y 0GG7K+7P6K7@B6B7A g5 g\ \S SQ E7A6B9E+M7KG7A+AB@G<7P:
Y 27=>+=9>+97CD T5 a4 TU ]4
Y 'KH9D+=9>+J=CD 45 ]U 44 T5
Y $;L7K+7P6K7@B6B7A !9NK7VH796 ]\ ]g 4a
Y (K=<+@HC;HA+@7@JK=97A U QU 4 S
$=J;K=6;KF+W9>B9EA
Y "7H6K;GMB<B=7 g5 ]S a5 4g
Y .<78=67>+7KF6MK;CF67+A7>BR \5 Q55 \T Q55
@796=6B;9+K=67N
Y %97@B=E !9NK7VH796 gU g4 Q55
Y %J9;K@=<+G<=67<76+C;H96M !9NK7VH796 ag T5 T5
Y %J9;K@=<+K79=<+NH9C6B;9B QQeT5 QT S 5
=17KC796=E7A+N;K+C<=AABCO+M7@=6;<;EBC+@=<BE9=9CFO+=9>+A;<B>+6H@;K+=AA;CB=67>+LB6M+-L776+AF9>K;@7+=>=G67>+
LB6M+G7K@BAAB;9+NK;@+3;M79+1)O+iHKZK;CD+)h+-L776mA+AF9>K;@7+=9>+C=9C7K:+6"/0*7#58+)&"*LLhQ]\O+Q\\4:
J17KC796=E7A+N;K+>KHERB9>HC7>+-L776+AF9>K;@7+=>=G67>+LB6M+G7K@BAAB;9+NK;@+k=<D7K+,3O+3;M79+1)h+'KBR
@76M;GKB@RAH<N=@76M;P=Z;<7R=AA;CB=67>+=CH67+N7JKB<7+97H6K;GMB<BC+>7K@=6;ABAh+3=A7+K7G;K6+=9>+K78B7L+;N+
>KHE+B9>HC7>+-L776mA+AF9>K;@7:*9*:8*:'+,*7#58+)&"*MSh\QgO+Q\\a:
C)7CHKK79C7+=N67K+;K=<+K7CM=<<79E7+67A6B9E+B9+6M7+G=6B796A+LB6M+>KHERB9>HC7>+-L776+AF9>K;@7:
>'7@G7K=6HK7+n+4go3+^Q55o#_:
BC;<$:.MLG! &H<6BG<7+C;9`H796+G=GH<7A+=9>
7"7H6K;GMB<+C;H96+n+a555+C7<<A[!$: G<=VH7A+;N+-L776+AF9>K;@7+6M=6+=6+WKA6+ABEM6+EB87
N.KF6MK;CF67+A7>B@796=6B;9+K=67+n+U5+@@[M: 6M7+B<<HAB;9+;N+87ABCH<=6B;9O+JH6+=K7+A;<B>+;9+G=<G=R
E27@;E<;JB9+p+Q4+E[>$+B9+@79+=9>+p+QU+E[>$+B9+L;@79:
M1<=67<76+C;H96+p+QT5O555[!$+;K+n+T55O555[!$:
6B;9:+^#K;@+2j9BEA@=99+76+=<h+%DH67+N7JKB<7+97HKR
B'MBA+B9C<H>7A+M7@=6HKB=O+GK;67B9HKB=O+=9>+K79=<+B9AHNWCB79CF: 6;GMB<7+ ,7K@=6;A7:+ 3/#0* 4"/0* 3&'-#0.'-5
#Lhg]UO+Q\S\O+LB6M+G7K@BAAB;9:_+
'7':.&$+&)#'&2,,'-&7'-:$%&*1&)#'&3'%$*+% <0'')& %6+7-*:'& %>$+& 3'%$*+%& .,,'.-& .) )23'%;& <*:'& *1& )#'& ,.)$'+)%& ,-'/$*2%36
-'%23)%& $+& )#'$-& )-.+%,.-'+)=& /'%$(3'83$>' %$)'%& *1& (2).+'*2%& )-.2:.;& "#'%'& $+8 7'%(-$4'7& .%& #./$+5& )#'& b,2%)23.-& '-2,8
.,,'.-.+('&.+7&#.%&4''+&7'%(-$4'7&.%&.+ (327'& )#'& 3*(.)$*+%& 0#'-'& ,-*('72-'% )$*+& *1& 23('-.)$/'& (*3$)$%c& .-'& ,'-#.,%
)../-)%*1 %I1 D#-)!/.&')%*& BE$5;& PM8NF;& [+& 3.)'- #./'&4''+&,'-1*-:'7&%2(#&.%&4$*,%$'%=NL :*-'&.,,-*,-$.)'36&$+(327'7&$+&)#$%&(3$+8
%).5'%=& ('+)-.3& (3'.-$+5& :.6& 3'.7& )*& .+8 $+)-./'+*2%& (.)#')'-& ,3.(':'+)=NL& .+7 $(.3&/.-$.+)&*1&<0'')&%6+7-*:';M=MST
+23.-& *-& .-(2.)'& ,.))'-+%;& "#'& 3'%$*+% /'+$,2+()2-';MN=MI=NL=PI=MPI=MPT & "#'6& .3%* +#/'(%4").)!12#($&'%-)-1%I1'"#12%(-&.1"&*2-
:.6& .,,'.-& 4233*2%=& 4'(*:'& 23('-.)'7= $+(327'& %$)'%& *1& $+%'()& 4$)'%& .+7& (.) *- 4/-'/.&(1D&-!/.)')-1%I1'"#12%(-&.1"&*2-1-'1'-%
.+7R*-& :$:$(& )#'& :*-,#*3*5$(& 1'.)2-'% %(-.)(#'%=NL&.-'.%&)#.)&#./'&-'('$/'7&-.8 )*& .& 3*(.3$9'7=& ,2%)23.-& /.-$.+)& *1& <0'')
*1& ,6*7'-:.& 5.+5-'+*%2:& $+& ,.)$'+)% 7$.)$*+& )#'-.,6=MPQXMSM& .+7& ,3.('%& )#.) %6+7-*:'& 0#'+& )#'& (3$+$(.3& 3'%$*+%& .-'
0$)#& :.3$5+.+(68.%%*($.)'7& <0'')& %6+8 #./'&4''+&(*+).()'7&46&%'+%$)$9$+5&.+)$8 ,-'7*:$+.+)36& -'%)-$()'7& )*& )#'& 7*-%.3
7-*:';MPP=MPS& "#'& 3'%$*+%& '+3.-5'& */'-& . 5'+%;MPI=MSN& [+& .77$)$*+=& $+& %*:'& <0'') #.+7%;P=MSQXM!S&"#'&3'%$*+%&1-*:&)#$%&3.))'-
,'-$*7& *1& 7.6%& )*& 0''>%;& <24%'A2'+)36= %6+7-*:'& ,.)$'+)%=& 3'%$*+%& #./'& 4''+ 5-*2,&*1&$+7$/$72.3%&.-'&%$:$3.-&)*&)#*%'&*1
)#'6& :.6& (*.3'%('& .+7& 1*-:& $--'523.- ,#*)*7$%)-$42)'7&*-&3*(.3$9'7&)*&)#'&%$)' <0'')&%6+7-*:'&$+&:*-,#*3*56&.+7&-.,8
%#.-,36& 4*-7'-'7& ,3.A2'%& BE$5;& PM8PF; *1& .& ,-$*-& ,#*)*)*H$(& -'.()$*+& B%2+8 $736&-'%*3/'&.1)'-&%6%)':$(&(*-)$(*%)'-*$7%
"#'6& 2%2.336& -'%*3/'=& %,*+).+'*2%36& *- 42-+F;MP=NL=QT=MSPXMS!& <0'')& %6+7-*:'& 3'8 .+7R*-&7.,%*+'&)#'-.,6&$%&$+$)$.)'7;&[+&.78
.1)'-& )-'.):'+)=& 0$)#*2)& %(.--$+5;& \'8 %$*+%& #./'& .3%*& -.-'36& 4''+& 3*(.)'7& *+ 7$)$*+=&:.+6& *1& )#'&$+7$/$72.3%& 0$)#& )#$%
%$*+%&.%%*($.)'7&0$)#&-'(2--'+)&',$%*7'% )#'& .-:& .11'()'7& 46& ,*%):.%)'()*:6 1*-:&*1&)#'&7$%'.%'&.3%*&#.7&(*+(2--'+)&3'8
*1&<0'')&%6+7-*:'&*((2-&$+&*+'8)#$-7&)* 36:,#'7':.;MLL=MSK %$*+%&3*(.)'7&*+&'$)#'-&)#'$-&*-.3&:2(*%.=
)0*8)#$-7%&*1&,.)$'+)%;M=N=MP!=MPK <0'')&%6+7-*:'&(.+&,-'%'+)&.%&.&,2%8 .-:=&3'5=&4.(>=&.+7R*-&1.(';P=M!!XMKP
D2).+'*2%& ,.)#'-56=& .3%*& -'1'--'7& )* )23.-& 7'-:.)*%$%;MSI& "#'& 3'%$*+%& .,,'.- "#'& (2).+'*2%& 3'%$*+%& *1& %24(2).+'8
.% -,)*1 "04#(-#*-)')D)'0=& $%& .& 7'-:.)*%$%8 .%& )$+6& ,2%)23'%& *+& )#'& )*,%& *1& )#'& -'7 *2%&<0'')&%6+7-*:'&2%2.336&,-'%'+)&.%
.%%*($.)'7& 1'.)2-';M=N& [)& *((2-%& 0#'+ ,.,23'%& *-& '-6)#':.)*2%84.%'7& ,2%8 '-6)#':.)*2%=& )'+7'-& 7'-:.3& +*723'%
!#E
5 \
BC;<$:.MLGM %CH67+N7JKB<7+97H6K;GMB<BC+>7K@=6;ABA:+'FGBC=<+<7AB;9+C;9ABA6B9E+;N+C;=<7ACB9EO+G<=VH7RN;K@B9E+G=GH<7A:+5[+/KBEM6RK7>+<7AB;9A+;9+6M7+97CD:
\[+$7AB;9+;9+6M7+>;KAH@+;N+6M7+KBEM6+M=9>+7PMBJB6B9E+6M7+qK7<B7N+;N+=+@;H96=B9+K=9E7r+N7=6HK7:+b#K;@+2j9BEA@=99+2O+k;<NN+ih+%CH67+N7JKB<7+97H6K;GMB<BC+>7K@=6;R
ABA+^-L776+AF9>K;@7_O+B9+;+<&5*=5&>"#8.*/0*7#58+)&"&?(O+8;<:+Q5O+7>B67>+JF+k;<NN+iO+kB9D7<@=99+)i:+$;9>;9O+$<;F>R$HD7O+Q\g5O+G+45SO+LB6M+G7K@BAAB;9:d
-'3.)'7& (*+7$)$*+%r%2(#& .%& $+?.::.8 f.%(23$)$%& .+7& #6,*)#6-*$7$%:& .-'& ,*)'+8 %>=G67>+NK;@+3;M79+1)h+1=K=97;G<=A6BC+>7K@=6;R
)*-6& 4*0'3& 7$%'.%'=& %.-(*$7*%$%=& .+7 )$.3& 7-258$+72('7& %$7'& '11'()%& *1& ,*).%8 G=6M;<;EFh+3H6=97;HA+G=K=97;G<=A6BC+AF9>K;@7A:+
)#6-*$7&7$%'.%'%r:.6&0.--.+)&7$%'.%'8 %$2:&$*7$7';PT!&C.%)-*$+)'%)$+.3&%6:,)*:%= :,C*7#58+)&"*LLhUQTO+Q\\T:
%,'($@(&)-'.):'+); %2(#&.%&7$.--#'.=&.47*:$+.3&,.$+=&.+7&+.28
!#S
#,-&'*)' 4''+&7'%(-$4'7=&,-'7*:$+.+)36&$+&(.%'&-'8
,*-)%=&0$)#&*)#'-&7-25%]&(6)*)*H$(&(#':*8
=D2)(#.A&@*($)#(%)2&K+*&=C(()&=D%0*+#(
)#'-.,$'%& .+7& .+)$:').4*3$)'%& B(#3*-.:8
=C7: J:AC>5@C?7 A?H: 42($3&.+7&(6(3*,#*%,#.:$7'F=PL=PQ=MST=NLL=
N!M=PKL=PQL& $::2+*53*423$+=PLP& $+)'-1'-*+
#BKA6 1K7>9BA;97 Q+@E[DE[>=F+^HAH=<<F+K=9EB9E+NK;@+45ea5+@E_+=A+=+AB9E<7+;K=<+
@;K9B9E+>;A7:+kB6MB9+]ea+LDO+6=G7K+>;A7+6;+Q5+@E[>=Ff+M;LR .3,#.=NLN=PKK&')-')$+.)'=PKM&.+7&)2:*-&+'8
787KO+A;@7+G=6B796A+@=F+K7VHBK7+Ue4+@;+;N+6K7=6@796+;K+B96K=87R (-*%$%& 1.()*-& .+).5*+$%)%& B').+'-(',)=PQN
9;HA+6M7K=GF: $+?$H$:.4=NKS=NK!=NIT=NKK & .+7& )#.3$7*8
&76MF<GK7>9BA;R !96K=879;HA<F+=>@B9BA67K7>+^HG+6;+Q555+@E[>=F_+;87K+Q+;K+@;K7+ :$7'!=PQPF;& V'+)*H$1633$+'& 0.%& #6,*)#'8
<;97+A;>BH@+ M;HKA+>=B<F+N;K+4eT+>=FA:+'MBA+BA+N;<<;L7>+JF+=+6=G7KB9E+;K=<+>;A7+ %$9'7& )*& 4'& 4'+'@($.3& 1*-& )-'.)$+5& <0'')
AHCCB9=67 ;N+C;K6BC;A67K;B>+;K+=9;6M7K+B@@H9;AHGGK7AA=96+=E796: %6+7-*:'PQS=PQ!Z& #*0'/'-=& 0#'+& 2%'7& .%
1;6=AABH@+B;>B>7 %>@B9BA67K7>+;K=<<F+=A+455R@E+7967KBCRC;=67>+6=J<76AO+6MK77+ :*+*)#'-.,6=& $)& 0.%& +*)& 1*2+7& )*& 4'
6B@7A+7=CM+>=F+^N;K+=+>=B<F+>;A7+;N+\55+@E_+;K+=A+=+A=6HK=67>+ '1@(.($*2%;M=N=I=NQ!=PKN
A;<H6B;9+^Q+E[@$+;N+L=67K_+;N+G;6=AABH@+B;>B>7+^A=6HK=67>+A;<HR
6B;9+;N+G;6=AABH@+B;>B>7O+=<A;+K7N7KK7>+6;+=A+D$?&"E.*.&"$)/&0_O+
J7EB99B9E+=6+=+>;A7+;N+4+>K;GA+6MK77+6B@7A+7=CM+>=F+^\+>K;GA[
i.*+).#.)."3.-
>=F+v+]T5+@E[>=F_+=9>+B9CK7=AB9E+JF+Q+>K;G+6MK77+6B@7A[>=FO+ 3;@G<767+)7N7K79C7A+%8=B<=J<7+;9+
6FGBC=<<F+6;+=+W9=<+>;A7+;N+UQ+>K;GA[>=F+^Q5T5+@E_+6;+45+>K;GA[
>=F+^QT55+@E_:=
3,R)(&+=9>+(9R$B97+c7KAB;9+
3;<CMBCB97 %>@B9BA67K7>+;K=<<F+=6+=+>;A7+;N+5:T+@E+6MK77+6B@7A+7=CM+>=F+ M; D*#'+& VY=& p2-9-*(>& Y]& <0'')n%& %6+8
^N;K+=+>=B<F+>;A7+;N+Q:T+@E_: 7-*:'& -'/$%$)'7]& O& -'/$'0& *1& 7$%'.%'
-7C;9> !9>;@76M=CB9 %>@B9BA67K7>+=6+=9+;K=<+>=B<F+>;A7+;N+QT5+@E+N;K+S+>=FAO+=9>+ (*+(',)%; ;*'1M18#($&'%.1'&]IKM=&NLLP
N; D*#'+& VY]& <0'')n%& %6+7-*:';& J(4"&*#'
6M79+Q55+@E[>=F+N;K+Q]+>=FA: P*!0!.%4#2)&;& #)),]RR000;*-,#.;+')R7.).R
3<;N=ZB@B97 %>@B9BA67K7>+;K=<<F+=6+=+>=B<F+>;A7+;N+U55+@E+N;K+]+LDO+=9>+6M79+ ,.)#*RCWR2>8<0'');,71=& .(('%%'7& o()*8
Q55+@E[>=F+N;K+]+LD: 4'-&NLLP
3FC<;AG;KB97 %A+@;9;6M7K=GF+;K+=A+=+A7C;9>R<B97+=E796+^=N67K+N=B<HK7+;N+WKA6R<B97+ P; D*#'+& VY]& <>$+& 3'%$*+%& *1& <0'')& %6+8
7-*:'& .+7& $)%& 7*-%.3& #.+7& /.-$.+)& (*+8
6M7K=GF+;K+=A+=+C;K6BC;A67K;B>RAG=KB9E+=E796_:+!9B6B=<+;K=<+>=B<F+>;A7+ ).$+& /.%(23$)$%]& O+& *H6:*-*+& *-& .+
K=9E7>+NK;@+U+@E[DE[>=F4g5+6;+]+@E[DE[>=FU4Q+6;+Q5+@E[DE[>=Ff+ ',$,#'+*:'+*+s L(!"18#($&'%.1#()]SLL=
B9+6M7+<=667K+G=6B796O+NK;@+6M7+7<78796M+>=F+6M7+>;A7+L=A+K7>HC7>+ NLLN
JF+U+@E[DE[>=F+787KF+U+>=FA+=9>+>BAC;96B9H7>+;9+>=F+UQ: S; D*#'+& VY]& <24(2).+'*2%& <0'')n%& %6+8
7-*:']& O& /.-$.+)& *1& .(2)'& 1'4-$3'& +'28
,=GA;97 %A+7B6M7K+@;9;6M7K=GF+;K+B9+C;@JB9=6B;9+6M7K=GF:+!9B6B=<+;K=<+
)-*,#$3$(& 7'-:.)*%$%& )#.)& $%& $+(327'7& $+
>;A7+K=9E7>+NK;@+Q55+@E[>=F+6;+U55+@E[>=Ff+6M7+<=667K+>;A7+ )#'& #$%)*3*5$(& 7$11'-'+)$.3& 7$.5+*%$%& *1
L=A+7B6M7K+=>@B9BA67K7>+=A+=+AB9E<7+>;A7+;K+>B8B>7>+B96;+6L;+ +'2)-*,#$3$(&,.++$(23$)$%;1M1L$1L!&218#(:
7VH=<+>;A7A: $&'%. "&]QNI=&NLL!
!; D*#'+&VY]&<0'')n%&%6+7-*:'&.+7&-'3.,%8
=(97+>K;G+v+5:5T+@$+^;K+T5+@E+LM79+6M7+C;9C796K=6B;9+;N+G;6=AABH@+B;>B>7+BA+Q555+@E[@$_+LM79+=+qA6=9R $+5&,*36(#*+7-$)$%]&[%&)#'$-&.,,'.-.+('&$+
>=K>r+@7>BCB97+>K;GG7K+^LMBCM+>BAG79A7A+U5+>K;GA[@$_+BA+HA7>: )#'& %.:'& ,.)$'+)& .& (*$+($7'+).3& *((2-8
#K;@+3;M79+1)O+iHKZK;CD+)h+-L776mA+AF9>K;@7+K78BAB67>h+%+K78B7L+;N+>BA7=A7+C;9C7G6A:+A0)*9*7#58+)&"* -'+('& *-& .& 4*+$@'7& .%%*($.)$*+& *1& )#'%'
S!hSaQO+U554: (*+7$)$*+%s ;*'1M18#($&'%.1'(]IIN=&NLLS
K; D*#'+& VY]& U'2)-*,#$3$(& 7'-:.)*%'%
*((2--$+5&$+&*+(*3*56&,.)$'+)%;&;*'1M18#(:
%'.&.+7&/*:$)$+5=&.-'&,*)'+)$.3&.7/'-%'&'18 ('$/$+5& %6%)':$(& .+)$4$*)$(%;I& E*-& 'H.:8 $&'%. '!]MLK=&NLLI
I; D*#'+& VY=& p2-9-*(>& Y]& <0'')n%& %6+8
1'()%&1-*:&(*3(#$($+'&)#.)&:.6&$:,-*/'&.18 ,3'=&)#'%'&$+(327'&$+7$/$72.3%&0$)#&6'&4"0: 7-*:']& O& -'/$'0& *1& (2--'+)& )-'.):'+)
)'-&3*0'-$+5&)#'&7.$36&7*%'&*1&)#'&7-25;N .%!%!!/-1 &/(#/-& %'(*+7.-$36& $:,')$5$+$9'7 *,)$*+%; L$1M17.)*18#($&'%.1(]MMI=&NLLN
<'(*+783$+'&%6%)':$(&.5'+)%&1*-&<0'') 3'%$*+%& B)-'.)'7& 0$)#& .+& .+)$:$(-*4$.3 T; <0'')&YJ]&O+&.(2)'&1'4-$3'&+'2)-*,#$3$(
%6+7-*:'& #./'& .33& 4''+& 2%'7& .%& :*+*8 .5'+)&)*&0#$(#&)#'$-&4.()'-$.3&%)-.$+&$%&%2%8 7'-:.)*%$%; ?(1M18#($&'%.1$!]PSQ=&MQKS
KI; <.'9& G& ')& .3]& J-258$+72('7& <0'')n%
)#'-.,6&'$)#'-&$+&)#'&$+$)$.3&:.+.5':'+) (',)$43'F=NP& ,.)$'+)%& 0$)#& $+?.::.)*-6
%6+7-*:';1 M1 P/(1 L!&21 8#($&'%.1 Q#*#(#%.
*1&)#'&,.)$'+)&*-&.1)'-&@-%)83$+'&)#'-.,$'% 4*0'3& 7$%'.%'& B)-'.)'7& 0$)#& :')-*+$7.8 #)]NPP=&NLLS
#./'&1.$3'7;&[+&.77$)$*+=&(6(3*%,*-$+'&.+7 9*3'F=NKI=PTI&.+7&,'-%*+%&0$)#&7'-:.)*%$%8 MLP; m#$)'& eG& ')& .3]& D2).+'*2%& :.+$1'%).8
7.,%*+'&#./'&4''+&2%'7&$+&(*:4$+.)$*+ -'3.)'7& 6'-%$+$.MN!=MNK& *-& (#3.:67$.PLK=PLI )$*+%&*1&5-.+23*(6)'&(*3*+68%)$:23.)$+5
)#'-.,6&'$)#'-&.%&.&(*-)$(*%)'-*$78%,.-$+5 $+1'()$*+& B)-'.)'7& 0$)#& '$)#'-& 7*H6(68 1.()*-;&7.)*1PC418#($&'%.1(#]NLK=&NLLK
MLK; p2:.-&C&')&.3]&<0'')n%&%6+7-*:'&.%%*8
.5'+)&*-&0$)#&*)#'-&7-25%;M=N=I=PLP (3$+'=MN!=PTQ& :$+*(6(3$+'=PL=MNK& *-& )')-.8 ($.)'7&0$)#&%.-5-.:*%)$:&B5-.+23*(6)'8
"#'-'&.-'&('-).$+&,.)$'+)%&0#*%'&<0'') (6(3$+'PLK=PLI=PTTF;& [+& .77$)$*+=& '11'()$/' :.(-*,#.5'& (*3*+6& %)$:23.)$+5& 1.()*-F
%6+7-*:'&3'%$*+%&#./'&$:,-*/'7&.1)'-&-'8 )-'.):'+)& *1& <0'')& %6+7-*:'& #.%& .3%* )-'.):'+); L$1M1R#$&'%. $!]NTP=&NLLS
!#T
+'$)#'-& .& 7$.5+*%)$(& 3.4*-.)*-6& )'%)& +*-
32%1'.)+4U ,.)#*5+*:*+$(&#$%)*,.)#*3*5$(&@+7$+5%; 1*(,.)&%
[)& $%& )#'-'1*-'& $:,*-).+)& )*& ./*$7& :$%7$8
1N,3%2O) .5+*%$+5&*)#'-&7$%'.%'%&.%&VC;!&"#'&:*%)
$:,*-).+)& (*+%$7'-.)$*+%& .-'& )#'& 'H(328
I%"I)."(-0&
;)-&2%-,9'O %$*+&*1&/.%(23.-&7$%'.%'&B%).%$%=&*((32%$*+=
.+7& /.%(23$)$%F=& $+1'()$*+& B4.()'-$.3& .+7
%'+%+I$%"3.+
7'',& 12+5.3& $+1'()$*+F=& .+7& :.3$5+.+(6
#K=9D+3:+1;L7<<+ B,-$:.-6& *-& %'(*+7.-6& (2).+'*2%& :.3$58
/KB>E76+3:+2=CD766+ +.+(6F& $+&'/'-6& ,.)$'+);& D3*%'&1*33*082,
.+7&-'8'/.32.)$*+&B0$)#&-','.)'7&%>$+&4$8
*,%$'%=& )$%%2'& .+7& %0.4& (23)2-'%=& .+7
.1!,.&!($(I* 43**7& )'%)%& .%& $+7$(.)'7F& $%& .+& $:,*-).+)
"#'&,-'/.3'+('&*1&,6*7'-:.&5.+5-'+*8 ,.-)&*1&)#'&*+5*$+5&'/.32.)$*+&*1&,.)$'+)%
1F;>7K@=+E=9EK79;AH@+^1I_+BA+=+K=K7+
%2:& BVCF& $%& 2+>+*0+;& a%)$:.)'%& #./' 0$)#& %2%,'()'7& VC=& ,.-)$(23.-36& )#*%'
B9`=@@=6;KF+>BA7=A7+;N+H9D9;L9+76B;<R
%255'%)'7& )#.)& .,,-*H$:.)'36& )#-'' 0#*&%#*0&.&,**-&-'%,*+%'&)*&)#'-.,6;
;EF+CM=K=C67KBZ7>+JF+97H6K;GMB<BC+B9W<6K=R
(.%'%& *1& VC& ,'-& :$33$*+& *1& )#'& ,*,23.8 6B;9+;N+6M7+>7K@BA+=9>+>7A6KHC6B;9+;N+
)$*+&*((2-&,'-&6'.-=&0$)#&:*%)&3.-5'&-'8 2BA6;KF 6BAAH7:
1'--.3& ('+)'-%& %''$+5& *+'& )*& )0*& (.%'%
1I+BA+@;K7+NK7VH796+B9+N7@=<7+G=6B796A+
,'-&6'.-;M&[)&#.%&4''+&-',*-)'7&$+&.33&.5' O& ,.)$'+)& 0$)#& VC& 2%2.336& (*:,3.$+%& *1
%'/'-'& ,.$+& -'3.)'7& )*& )#'& (2).+'*2%& 3'8 =9>+;CCHKA+=6+=9F+=E7O+HAH=<<F+J76L779+
5-*2,%& 42)& :.$+36& .11'()%& .723)%& 4'8
]5+=9>+a5+F7=KA:+
)0''+& )#'& .5'%& *1& SL& .+7& KL& 6'.-%;N %$*+& 42)& *2)& *1& ,-*,*-)$*+& )*& $)%& (3$+$(.3
G*%)& -',*-)'7& %'-$'%& *1& ,.)$'+)%& 0$)# .,,'.-.+(';&O,,-*H$:.)'36&N!&,'-('+)&*1 'M7+@=X;KB6F+;N+G=6B796A+LB6M+1I+M=87+
VC& $+7$(.)'& .& :*7'-.)'& ,-',*+7'-.+(' ,.)$'+)%&+*)'&)#'&*+%')&*1&VC&.)&%$)'%&*1 ;6M7K+AFA67@BC+>BA7=A7A+^AHCM+=A+=K6MKB6BAO+
*1& 1':.3'%;& VC& *1)'+& *((2-%& $+& ,.)$'+)% :$+*-& (2).+'*2%& )-.2:.& B+''73'& %)$(>= B9`=@@=6;KF+J;L7<+>BA7=A7O+M7@=6;<;EBC+
0#*& #./'& *)#'-& 7$%'.%'%& B.-)#-$)$%=& $+8 $+*(23.)$*+& %$)'=& $+%'()& 4$)'%F=& (.33'7& )#' >FACK=AB=AO+@=<BE9=96+>BA7=A7O+76C:_O+JH6+
?.::.)*-6& 4*0'3& 7$%'.%'=& #':.)*8 4&'"#(E)!1 4"#*%$#*%*& BE$5;& PN8NF;& \'%$*+% 1I+=<A;+;CCHKA+B9>7G79>796<F+;N+6M7A7+
3*5$(&76%(-.%$.%=&')(;F&42)&$%&+*)&.&:.+$8 ,-*5-'%%& -.,$736& B0$)#& )#'& 'H(',)$*+& *1 >BA;K>7KA:+
1'%).)$*+& *-& (*:,3$(.)$*+& *1& )#'%' /'5').)$/'& VCF=& .+7& (2).+'*2%& 7'%)-2(8 1I+@=F+GK7A796+=A+H<C7K=6B;9O+JH<<;HA+
7$%'.%'%&.+7&$)%&(3$+$(.3&(*2-%'&$%&2%2.336 )$*+& '/*3/'%& */'-& 7.6%& -.)#'-& )#.+ <7AB;9AO+;K+GHA6H<=K+;K+87E76=6B87+<7AB;9A:+
2+-'3.)'7&)*&)#'$-&%'/'-$)6&*-&.()$/$)6;P 0''>%;&<,'($.3&$+A2$-6&-'5.-7$+5&7-25&$+8 3<B9BC=<+N7=6HK7A+A;@76B@7A+;87K<=G+B9+
).>'& B'%,'($.336& $*7$7'%R4-*:$7'%=& #68 B9>B8B>H=<+G=6B796A:
7-*H62-'.FZ& 'H,*%2-'& )*& .+7& %6:,)*:%
.'!($(I*+%",+1%'2(I.".-!- 'M7K7+BA+9;+<=J;K=6;KF+67A6+;K+B987A6BE=6B;9+
*1& $+1'()$*2%& 7$%'.%'%& BW*H& PN8MFZ& %6:,8
6M=6+7A6=J<BAM7A+6M7+>B=E9;ABA+;N+1I:
"#'& ')$*3*56&*1& VC& $%&2+>+*0+=&.+7&$)% )*:%& -'3.)$+5& )*& )#'& :2%(23*%>'3').3
,.)#*5'+'%$%& ,**-36& 2+7'-%)**7;& W'8 %6%)':& B_*$+)& ,.$+%=& %0'33$+5& ')(F=& )#' -G7CBW7>+CKB67KB=+AHEE7A6+6M7+>B=E9;ABA+;N+
(.2%'& .& 36:,#*(6)$(& $+@3)-.)'& $%& ,-*:$8 5.%)-*$+)'%)$+.3&)-.()&B.47*:$+.3&,.$+=&7$8 1IO+JH6+;6M7K+C;9>B6B;9A+^G=K6BCH<=K<F+
+'+)&.)&)#'&.7/.+($+5&4*-7'-&*1&.()$/'&3'8 .--#'.=& (*+%)$,.)$*+=& ')(;F=& #':.)*3*5$( B9N7C6B;9O+8=ACH<=K+>BA7=A7O+=9>+@=<BER
%$*+%=& $)& #.%& 4''+& ,*%)23.)'7& )#.) 7$%'.%'&B)$-'7+'%%=&.+':$.=&4-2$%$+5=&43**7 9=9CF_+@HA6+J7+7PC<H>7>:+
36:,#*(6)'& .+)$5'+$(& %)$:23.)$*+& ).>'% (3*))$+5& 7$%*-7'-%=& ')(;F=&.+7& +*+8%,'($@( 'M7+@=B9A6=FA+;N+@=9=E7@796+=K7+AFAR
,3.('&$+&)#'&%>$+&0$)#&%24%'A2'+)&(3*+.3 42)& ,*)'+)$.3& :.3$5+.+(68-'3.)'7& %6:,8 67@BC+B@@H9;AHGGK7AAB87+=E796A+
,-*3$1'-.)$*+&$+&36:,#&+*7'%&.+7&-'($-(28 )*:%=& %2(#& .%& 0'$5#)& 3*%%& .+7& 1.)$52'= 6;E76M7K+LB6M+=GGK;GKB=67+<;C=<+=9>+6;GBR
3.)$*+& )*& )#'& %>$+& 0$)#& (6)*>$+'& -'3'.%' %#*237&4'&:.7'; C=<+6M7K=GF:+
.+7& +'2)-*,#$3& -'(-2$):'+);& "#'& ,-'8 'M7+>BA7=A7+B9+@;A6+G=6B796A+BA+CMK;9BC:+
7*:$+.+('&*1&+'2)-*,#$3%&$+&)#'&$+@3)-.)' )7@BAAB;9+HAH=<<F+K7VHBK7A+@;96MA+;N+
*1&'%).43$%#'7&3'%$*+%&*1&VC&B4*)#&$+&)#'
3H6=97;HA+$7AB;9A
6M7K=GFf+@=B9679=9C7+6M7K=GF+BA+97C7AR
%>$+& .+7& %*:')$:'%& *)#'-& *-5.+%F& #.% VC& $%& ,-*)'.+& $+& $)%& (3$+$(.3& 'H,-'%%$*+ A=KF+B9+@=9F+=9>+K7<=GA7A+;CCHK+B9+@=9F+
%255'%)'7&)*&*)#'-%&)#.)&.&7'1'()&$+&+'28 0$)#& 'H)-':'& /.-$.4$3$)6& .((*-7$+5& )* G=6B796A:+-BE9BWC=96+@;KJB>B6F+=9>+@;KR
)-*,#$3&(#':*).H$%&*-&-'.()$/$)6&$%&)#'&4.8 )#'& )6,'& .+7& %).5'& *1& 7$%'.%';& \'%$*+% 6=<B6F+=K7+7PG7KB79C7>+JF+G=6B796A+LB6M+
%$(&,.)#*3*5$(&,-*43':&$+&VC;&O4+*-:.3 (.+&4'&(3.%%$@'7&:*-,#*3*5$(.336&.%&4'8 H<C7K=6B87+=9>+JH<<;HA+1I:
$::2+'&-'.()$/$)6&.+7&(-*%%8-'.()$+5&.28 $+5&23('-.)$/'=&4233*2%=&,2%)23.-=&*-&/'5'8
)*.+)$4*7$'%& 7$-'()'7& .)& .+)$5'+%& (*:8 ).)$/';&l%2.336&*+'&/.-$.+)&*1&VC&7*:$8
:*+& )*& )#'& %>$+& .+7& $+)'%)$+'& *-& _*$+)% +.)'%& )#'& (3$+$(.3& ,$()2-'=& 42)& %*:' 4-*.7'+%& $+)*& )#'& +*-:.3& %>$+& .#'.7& *1
.-'& *)#'-& ,-*,*%'7& ,.)#*5'+$(& :'(#.8 ,.)$'+)%&%#*0&:*-'&)#.+&*+'&)6,'&B$%*8 )#'& '+3.-5$+5& $+?.::.)*-6& 3'%$*+& BE$5;
+$%:%;&<'/'-.3&%)27$'%&#./'&%#*0+&,*%$8 3.)'7& ,2%)23.-& 3'%$*+%& 1-'A2'+)36& *((2- PN8PF;&O%&$)&'+3.-5'%=&)#'&('+)'-&7'5'+'-8
)$/'&7$-'()&$::2+*?2*-'%('+)&@+7$+5%&$+ $+&,.)$'+)%&0$)#&23('-.)$/'&VCF; .)'%=&(-2%)%=&.+7&'-*7'%=&(*+/'-)$+5&$)&$+)*
)#'&/'%%'3%&.7_.('+)&)*&.()$/'&VC&3'%$*+%;S "#'& :*%)& (*::*+& $+$)$.3& 3'%$*+& $+& . .+& '-*7$+5& 23('-& )#'& 7'/'3*,:'+)& *1
,.)$'+)& 0$)#& 23('-.)$/'& VC& $%& .+& $+?.:8 0#$(#&$%&.((*:,.+$'7&46&.+&.3.-:$+5&$+8
:.)*-6& ,2%)23'& *-& 12-2+(3'& B2%2.336& %$+8 (-'.%'&$+&)#'&%'/'-$)6&*1&)#'&,.$+;&"#'&238
3$!"!3%$+#!",!"I- 53'& 42)& %*:')$:'%& :23)$,3'F& 0#$(#& .,8 ('-&#.%& .& 432$%#& '75'& B72'&)*& 2+7'-:$+8
"#'&.,,-*.(#&)*&.+&$+7$/$72.3&%2%,'()'7 ,'.-%& *+& +*-:.3& .,,'.-$+5& %>$+& B:*%) $+5& 46& )#'& +'(-*)$9$+5& $+?.::.)*-6
*1&#./$+5&VC&$%&*2)3$+'7&$+&)#'&,.)$'+)&.38 (*::*+36&)#'&3'5F=&%*:')$:'%&.)&)#'&%$)' ,-*('%%F&.+7&)#'&4.%'&$%&(*/'-'7&0$)#&,28
5*-$)#:&BE$5;&PN8MF;&"#'&(3$+$(.3&,-'%'+).8 *1& :$+*-& )-.2:.;& "#$%& 7'/'3*,%& .& %2-8 -23'+)& :.)'-$.3;& aH,*%2-'& *1& :2%(3'& *-
)$*+& *1& VC& :.6& 4'& 7$/'-%'& .+7& )#'-'& $% -*2+7$+5&.-'*3.&*-&9*+'&*1&'-6)#':.&)#.) )'+7*+&*((2-%&$+&%*:'&(.%'%;&D*+)-*3&*1
!#U
;%-%2)(.%])O+-)*+,-
4)%'"0)(&$"!%+.9& 4)%'"0&0)!"+,!Q
7",@0J()&(.J#!P&%.'JA'P&!9!%)A!&.)C")1< 0+@'%"+,P&%9R)P&!"S)P&+J%0",)P&()R%$
>(+-+4)(.+O82%99+,-.,/.8N,3%2O).&)-&2%-,9'O
C-6%9*+&)*+,-9
Z%$).&%)!%!&'!&",("@'%)(
2+J%",)&%)!%!Q #B",&G"+R!")!Q T 5?',%"%.9R!",&0)C)0
T&/J00&G0++(&@+J,%&U&("//).),%"'0& T&",&/+.A'0",&/+.&$"!%+0+#9& T !).JA&G.+A"()V"+("()
T&).9%$.+@9%)&!)("A),%'%"+,&.'%) &&&7$)A'%+X90",&',(&)+!",P&R)."+("@&'@"(Y T&G0++(&@J0%J.)!
T&.),'0V0"C).VG+,)&R.+/"0)! #@$"//P&$")A!'P&-"%)P&$.'A !%'",P& T&@+'#J0'%"+,&!@.)),
T !).JA&".+, &&&',(&+%$).&!%'",!< T&@.9+#0+GJ0",!P&@.9+/"G.",+#),!
T&'J%+',%"G+(9&!@.)), T&/.)!$&%"!!J)&/+.&@J0%J.) T&@+0(&'##0J%",",!
T&',%",)J%.+R$"0"@&@9%+R0'!A"@ &&&7G'@%)."'0P&A9@+G'@%)."'0P&'%9R"@'0& T !).JA&[5>V/+0'%)
&&&',%"G+(9&7RDW"DP&@DW"D< &&&A9@+G'@%)."'0P&/J,#'0< T&',%"!%.)R%+09!",&Z&%"%).&
T&',%"?R$+!R$+0"R"(&',%"G+(9& T&$)R'%"%"!V$JA',&"AAJ,+()/"@"),@9
!@.)), &&&C".J! !@.)),",#
T&.$)JA'%+"(&/'@%+. T !9R$"0"! !).+0+#9&!@.)),
T !).JA&R.+%)",& $'(%.,'*.3+//%2%-*+)(9^ T&A"(!%.)'A !R)@"A),&+/&J.",)&?
&&&)0)@%.+R$+.)!"! 6)94'()2.3+9%)9%_.+-/%4*+,-9_. &&&[),@)?\+,)!&R.+%)",
T&%$9.+"(&/J,@%"+,&%)!%! O)(+&-)-4N_ T&@+ARJ%)(&%+A+#.'R$9
T&@$)!%&X?.'9P&)0)@%.+@'.("+#.'A ,*0%2.-%'*2,80+(+4.3%2O)*,9%9_. !@',&7"/&())R&'G!@)!!)!&'.)&0"B)09<
T !1'G&/+.&@J0%J.) /)4*+*+)(.3+9,23%2 T&C'!@J0'. !%J(")!
T&),(+!@+R9&7JRR).&',(V+.&0+1).<
T&G+,)&A'..+1&'!R".'%)
>()99+/N.*,.9'W&2,'8
>,-9+3%2.)99,4+)*%3.3+9%)9%9
BC;<$:.M!GL %GGK;=CM+6;+6M7+G=6B796+LB6M+GF;>7K@=+E=9EK79;AH@:
)#'&$+$)$.)$*+&*1&-'3.)$/'36&:$37&1*-:%&*1
)-'.):'+);K& V.)$'+)%& 0$)#& ,2%)23.-& VC
BC;<$:.M!GM .A6=J<BAM7>+<7AB;9+;N+H<C7K=6B87+GF;>7K@=+E=9EK79;AH@+AM;LB9E+L7<<R>7W97>+H<C7KR *1)'+& #./'& (*:,3')'& -':$%%$*+& *1& )#'$-
=6B;9+LB6M+AHKK;H9>B9E+Z;97+;N+7KF6M7@=: (2).+'*2%&3'%$*+%&$1&)#'6&5.$+&(*+)-*3&*1
)#'& %'/'-'& $+?.::.)*-6& 4*0'3& 7$%'.%'
:.)*-6&4*0'3&7$%'.%'=&*-&#':.)*3*5$( 1*-& :.+6& :*+)#%;& E-'A2'+)& :*+$)*-$+5 )#.)& 2%2.336& .((*:,.+$'%& )#$%& /.-$.+);
76%(-.%$.%&B'H(',)&/'5').)$/'&VCF; .+7&1*33*082,&*1&,.)$'+)%&.-'&+'('%%.-6;& l3('-.)$/'&VC&$%&.&(#-*+$(&-'(2--'+)&7$%8
t Y.,$7& -'72()$*+& *1& ,.$+& .+7& $+?.:8 '.%'& 0$)#& .& %$5+$@(.+)& :*-4$7$)6& .+7
:.)$*+&*+&$+$)$.)$*+&*1&%6%)':$(&%)'-8 :*-).3$)6;N=S&V.)$'+)%&*37'-&)#.+&K!&6'.-%
*$7&)#'-.,6;& 1)(I"(-!-+%",+ *1&.5'&.+7&:.3'&,.)$'+)%&%'':&)*&#./'&.
3$!"!3%$+3(0)-. 0*-%'& ,-*5+*%$%;& V.)$'+)%& 0$)#& 4233*2%
"#'&,-*5+*%$%&7','+7%&*+&)#'& VC&/.-$8 VC&0#*&#./'&.+&.%%*($.)'7&#':.)*3*5$(
3(&1$!3%'!("- .+)Z&)#'&.5'&.+7&%'H&*1&)#'&,.)$'+)Z&,-'%8 7$%*-7'-& .3%*& #./'& .& ,**-& ,-*5+*%$%;
O()$/'& *-& ,**-36& (*+)-*33'7& VC& (.2%'% '+('&*1&*)#'-&%6%)':$(&7$%'.%'Z&.+7&)#' "#'& *+%')& *1& 4233*2%& VC& $+& .& ,.)$'+)
%$5+$@(.+)& :*-4$7$)6& B3*%%& *1& :*4$3$)6= )6,'=& 7*%.5'=& .+7& 72-.)$*+& *1& )#'-.,6 0$)#&%).43'&,*36(6)#':$.&-24-.&/'-.&.,8
,.$+=& 'H,*%2-'& )*& %'(*+7.-6& $+1'()$*+= -'A2$-'7&)*&4-$+5&)#'&7$%'.%'&2+7'-&(*+8 ,'.-%& )*& #'-.37& )#'& *+%')& *1& 3'2>':$(
.+':$.& *1& (#-*+$(& 7$%'.%'=& ')(;F;& G.+6 )-*3;& V.)$'+)%& 0$)#& /'5').)$/'&VC& 5'+'-8 (#.+5'&$+&%*:'&,.)$'+)%;Q
*1&)#'&)-'.):'+)%&1*-&VC&#./'&%$5+$@(.+) .336&#./'&.&5**7&,-*5+*%$%&.+7&)#'&%>$+
%$7'&'11'()%&.+7&#./'&)*&4'&.7:$+$%)'-'7 3'%$*+%& *1)'+& #'.3& 0$)#$+& K& :*+)#%& *1
').%'&."'
I797K=<+&7=AHK7A
"#'& .5'=& :*4$3$)6=& %*($.3& %2,,*-)& +')8
0*->%=&,.$+&)#-'%#*37=&'H)'+)&.+7&%'/'-8
$)6&*1&7$%'.%'=&.+7&.4$3$)6&)*&(*:,36&0$)#
BC;<$:.M!GU c7E76=6B87+GF;>7K@=+E=9EK79;R
BC;<$:.M!GS /H<<;HA+GF;>7K@=+E=9EK79;AH@+<7AB;9+AM;LB9E+C;<<=GA7>+K;;N+;N+J<BA67K+=9>+AHG7KWR AH@l=9+ B9>;<796+ =K7=+ ;N+ CMK;9BC+ B9`=@@=6B;9
MEE CB=<+7K;AB87+VH=<B6F+;N+6M7+AHJA7VH796+H<C7K=6B;9: =9>+H<C7K=6B;9+6M=6+L=A+GK7A796+N;K+@;96MA:
)#'-.,'2)$(& :'.%2-'%& %#*237& 4'& '/.328 #,-&'+)+
.)'7& 1*-& '.(#& ,.)$'+)& .+7& )#'& )-'.):'+)
.7.,)'7& .((*-7$+536;& "#'& ,.)$'+)& %#*237 =D2)(#.A&@*($)#(%)2&K+*&4D+0(*#$&:$%J*(%+2"#
4'& 5$/'+& -'.3$%)$(& 'H,'().)$*+%& *1& )#' J:AC>5@C?7 A?H5;:
%,''7& *1& -'(*/'-6& 3$>'36& $+& )#$%& 7$%'.%'; 1K7>9BA;97 5:TeQ:T+@E[DE[>=F+1(
"#2%=& .3)#*25#& 3'%$*+%& 7'/'3*,& .+7 &76MF<GK7>9BA;<;97+^GH<A7>+>;A7_ T55+@EeQ+E+!c
'/*3/'& 0$)#$+& 7.6%=& )#'& #'.3$+5& ,-*('%% ,=GA;97 T5eU55+@E[>=F+1(
2%2.336& ).>'%& 0''>%& *-& :*+)#%;& O7'8 3<;N=ZB@B97 U55e]55+@E[>=F+1(
A2.)'& 4'7& -'%)=& '1@($'+)& ,.$+& -'3$'1=& (*-8 &B9;CFC<B97 T5eQ55+@E+6LBC7+>=B<F+1(
-'()$*+&*1&.+':$.=&.+7&.,,-*,-$.)'&)#'-8 3FC<;AG;KB97 4ea+@E[DE[>=F+1(
.,6&*1&.+6&.%%*($.)'7&7$%'.%'&.-'&,$/*).3 '=CK;<B@HA 5:Qe5:4+@E[DE+1(
$+& )#'& */'-.33&:.+.5':'+)& %)-.)'56&*1&. &FC;GM79;<=67+@;N76B<+ T55+@EeQ+E+JB>+1(
,.)$'+)& 0$)#& VC;ML& [1& *)#'-& %6%)':$(& $338 !9`BPB@=J T+@E[DE+!c
+'%%'%& .-'& ,-'%'+)=& (**,'-.)$*+& 0$)#& .
5'+'-.3&,#6%$($.+&$%&$:,*-).+)=&.+7&$1&%2-8
5'-6&$%&.+)$($,.)'7&.,,-*,-$.)'&:'.%2-'% ,3$'7&)*&)#'&,'-$,#'-6&*1&.+&.()$/'&VC&3'8 ,.)$'+)%=& .%& 0'33& .%& 4*+'& ,-*)'()$/'
B%2(#& .%& )#'& 2%'& *1& %24(2)$(23.-& %2)2-'% %$*+& (.+& -'72('& $+?.::.)$*+& .+7& :.6 :'.%2-'%&)*&7$:$+$%#&)#'&-$%>& *1&*%)'*8
.+7& %6%)':$(& %)'-*$7& (*/'-F& .7*,)'7& )* 4'& %21@($'+)& .%& .& :*+*)#'-.,6& )*& #'.3 ,*-*%$%;& [+)-./'+*2%& (*-)$(*%)'-*$7%& $+
./*$7&,-'($,$).)$+5&+'0&VC&3'%$*+%; /'5').)$/'&*-&%2,'-@($.3&,'-$%)*:.3&VC;MM ,23%'7&7*%'%&#./'&.3%*&4''+&2%'7&)*&$+8
"#'& 3*(.)$*+=& :*-,#*3*56=& %$9'=& .+7 "*,$(.3&7$%*7$2:&(-*:*536(.)'&B0$)#&*- 72('&-':$%%$*+=&42)&%'-$*2%&,*)'+)$.3&.78
*2)3$+'&*1&'.(#&3'%$*+&%#*237&4'&-'(*-7'7 0$)#*2)& *((32%$*+F=& 4'+9*63& ,'-*H$7'= /'-%'& '11'()%& 3$:$)& )#'$-& 2%'& )*& 'H(',8
B46&,#*)*5-.,#6&.+7&46&2%$+5&.&(.3$4-.)'7 +$(*)$+'& (-'.:& *-& ,.)(#'%=& #6,'-4.-$( )$*+.3&($-(2:%).+('%;&J.,%*+'&#.%&4''+
)-.+%,.-'+)& ,3.%)$(& %#'')& ,3.('7& */'-& 3'8 *H65'+=& .+7& -.7$*)#'-.,6& #./'& .33& 4''+ )-.7$)$*+.336&2%'7&$+&)#'&)-'.):'+)&*1&VC
%$*+%& *+& 0#$(#& )#'& *2)3$+'& $%& )-.('7F& *+ -',*-)'7& .%& 4'$+5& '11'()$/'& $+& $+7$/$72.3 .+7& -':.$+%& .& 2%'123& 7-25=& ,.-)$(23.-36
,-'%'+).)$*+&.+7&%24%'A2'+)&-'/$'0; ,.)$'+)%& 0$)#& VC;& "*,$(.3& ).(-*3$:2% 0#'+& 2%'7& $+& (*+_2+()$*+& 0$)#& %6%8
B0$)#&*-&0$)#*2)&*((32%$*+F&%'':%&)*&4' )':$(&(*-)$(*%)'-*$7%;&J.,%*+'&$%&5'+'-8
,.-)$(23.-36&'11'()$/'&1*-&$%*3.)'7&,2%)23.- .336& 0'33& )*3'-.)'7=& 42)& #':.)*3*5$(
k;H9>+3=K7
3'%$*+%&.+7&1*-&,'-$%)*:.3&VC; (*:,3$(.)$*+%& B$+(327$+5& .5-.+23*(6)*8
"#'& (2).+'*2%& 3'%$*+%& *1& VC& .-'& 2%2.336 %$%=& #':*36%$%& .+7& #':*36)$(& .+':$.=
'H)-':'36& )'+7'-& %*& (3'.+%$+5& %#*237& 4' .+7& :')##':*53*423$+':$.F& .%& 0'33& .%
!96K=<7AB;9=<+'K7=6@796A
(.--$'7&*2)&7.$36&0$)#&)',$7&%)'-$3'&%.3$+'&*- *)#'-& ,*)'+)$.336& %'-$*2%& %$7'& '11'()%
.& :$37& .+)$%',)$(& %*32)$*+;& V*).%%$2:& ,'-8 [+)-.3'%$*+.3& )-$.:($+*3*+'& .(')*+$7'& B! :.6& *((2-;& o)#'-& .+)$:$(-*4$.3& .5'+)%
:.+5.+.)'&%*32)$*+&7$32)'7&M]NLLL&$%&#'3,8 )*&ML&:5R:\F&$+_'()'7&)0$('&0''>36&$+)* -',*-)'7& .%& %2(('%%123& $+& )#'& )-'.):'+)
123&$1&)#'-'&$%&:.->'7&'H27.)$*+;&<$3/'-&%238 )#'&4*-7'-&*1&.&/'5').)$/'&VC&3'%$*+&:.6 *1&VC&,.)$'+)%&$+(327'&-$1.:,$($+=&)')-.8
,#.7$.9$+'& M& ,'-('+)& (-'.:& $%& 2%2.336 3'.7&)*&#'.3$+5&.+7&(.+&4'&2%'123&$+&.&,.8 (6(3$+'%=& /.+(*:6($+=& :'93*($33$+=& (3*8
%**)#$+5&0#'+&.,,3$'7&)*&)#'&23('-.)'7&3'8 )$'+)&0$)#&23('-.)$/'&VC&$1&*+'&%'()$*+&*1 1.9$:$+'=& .+7& :$+*(6(3$+';& "#'%'& #./'
%$*+%& *1& VC& .+7& :.6& 1.($3$).)'& 5-.+23.8 )#'& 23('-& $%& ,-*/$+5& -'(.3($)-.+)& )*& *)#'- 2%2.336& 4''+& ,-'%(-$4'7& $+& (*:4$+.)$*+
)$*+&)$%%2'&1*-:.)$*+&.%&0'33&.%&$+#$4$)8 )#'-.,$'%;& [+)-.3'%$*+.3& (6(3*%,*-$+'& .+7 0$)#&*)#'-&%6%)':$(&)#'-.,$'%&.+7&%'':
$+5& 4.()'-$.3& 5-*0)#;& O& +*+8.7#'%$/' ).(-*3$:2%& #./'& .3%*& 4''+& -',*-)'7& )* )*&0*->& $+& VC& ,.)$'+)%&46& :'(#.+$%:%
7-'%%$+5&%#*237&4'&.,,3$'7&*/'-&)#'&3'%$*+ 4'&'11'()$/'&$+&%*:'&VC&,.)$'+)%; *)#'-& )#.+& )#'$-& .+)$4.()'-$.3& ,-*,'-8
.+7&#'37&$+&,3.('&0$)#&.&(-u,'&'3.%)$($9'7 )$'%;&G*%)&'H,'-$'+('&#.%&4''+&0$)#&(3*8
4.+7.5'& 0*2+7& @-:36=& 42)& +*)& )$5#)36= 1.9$:$+'& .+7& :$+*(6(3$+'& BMLL& )*& NLL
-FA67@BC+'K7=6@796A
*/'-& $);& <*:'& ,.)$'+)%=& ,.-)$(23.-36& )#*%' :5& 7.$36F;& "#'& 3.))'-& $%& 0'33& )*3'-.)'7
0$)#& %2,'-@($.3& 3'%$*+%=& *4).$+& %$5+$@(.+) W'(.2%'&VC&$%&.&-.-'&7$%'.%'=&:*%)&)-'.)8 .+7&*1)'+&.33*0%&1*-&.&-'72()$*+&$+&%6%8
'.%$+5& *1& 7$%(*:1*-)& 0$)#& )#'& 2%'& *1& #68 :'+)& -'(*::'+7.)$*+%& .-'& 4.%'7& *+ )':$(&(*-)$(*%)'-*$7&7*%.5'&.+7&.,,'.-%
7-*(*33*$7&7-'%%$+5%=&0#$(#&(.+&4'&3'1)&*+ 'H,'-$'+('& 5.$+'7& 1-*:& %:.33& %'-$'%& *1 )*&,-*3*+5&-':$%%$*+&$+&%*:'&,.)$'+)%;&
1*-&N&)*&P&7.6%&.+7&b:'3)c&$+)*&)#'&3'%$*+; ,.)$'+)%&%)27$'7;MN&"#'&)-'.):'+)%&*1&VC D6(3*%,*-$+'&$%&.+&.3)'-+.)$/'&@-%)83$+'
D.-'123&$+%)-2()$*+&$%&$:,*-).+)&)*&'+%2-' 0$)#& %255'%)'7& 7*%'%& .-'& 3$%)'7& $+& W*H )#'-.,6&*1&VCMP&*-&:.6&4'&2%'7&$+&(*:8
(*:,3$.+('& .+7& )*& ./*$7& )#'& 2%'& *1& $--$8 PN8N;& O%& 'H,'-$'+('& 0$)#& +'0'-& .5'+)% 4$+.)$*+&0$)#&%6%)':$(&(*-)$(*%)'-*$7%&)*
).+)%& %2(#& .%& (#':$(.3& 7'8%3*25#$+5 $%&5.$+'7=&$)&$%&3$>'36&)#'%'&-'(*::'+7.8 .(#$'/'&-.,$7&(*+)-*3&*1&7$%'.%';&J*%'%&*1
.5'+)%=& (.2%)$(%& B%2(#& .%& %$3/'-& +$)-.)'F=& *- )$*+%& 0$33& (#.+5';& <6%)':$(& %)'-*$7 P& )*& K& :5R>5R7.6& #./'& %#*0+& '1@(.(6
7-'%%$+5%&B%2(#&.%&5.29'&$:,-'5+.)'7&0$)# )-'.):'+)& $%& ,-*4.436& )#'& $+$)$.3& )-'.)8 .+7& (*+)$+2'7& )-'.):'+)& $%& 2%2.336& -'8
%*1)& ,.-.1@+& .+7R*-& .+)$4.()'-$.3& .5'+)%F= :'+)& *1& (#*$('& 1*-& :*%)& ,.)$'+)%& 0$)# A2$-'7&1*-&P&)*&S&:*+)#%;&\'%%&-$%>&*1&%'-$8
0#$(#&:.6&.7#'-'&)*&)#'&23('-&4.%'; VC;& [)& $%& $:,*-).+)& )*& $+$)$.)'& %6%)':$( *2%& %$7'& '11'()%& B%2(#& .%& $:,.$-:'+)& *1
%)'-*$7%& .)& .& %21@($'+)36& #$5#& 7*%'& )* -'+.3&12+()$*+& .+7,'-)'+%$*+F& $%&%''+
(*+)-*3&)#'&7$%'.%';&Y.,$7&7$:$+2)$*+&*1 .)&)#'%'&3*0&7*%'%=&42)& (.-'123& :*+$)*-8
';GBC=<+'K7=6@796A
,.$+&$%&*1)'+&-'(*-7'7&46&)#'&,.)$'+)&.18 $+5& *1& ,.)$'+)%& $%& -'A2$-'7& .+7& .))'+)$*+
"*,$(.3& )-'.):'+)%& .-'& $:,*-).+)& .78 )'-& $+$)$.)$*+& *1& )#'-.,6& .+7& %)'-*$7% %#*237& ,.$7& )*& )#'& ,*%%$4$3$)6& *1& *)#'-
_2+()%&)*& )#'&%6%)':$(&)-'.):'+)& +''7'7 %#*237&4'&(*+)$+2'7&.)&)#$%&7*%.5'&2+)$3 7-25%&$+)'-.()$+5&0$)#&)#$%&:'7$(.)$*+;
1*-&)#'&:.+.5':'+)&*1&:*%)&VC&,.)$'+)%= 3'%$*+%& %#*0& '/$7'+('& *1& #'.3$+5=& .1)'- ".(-*3$:2%& BEp8!LKF& .+7& :6(*,#'+*8
.+7&:.6&4'&%21@($'+)&)*&4-$+5&)#'&(*+7$8 0#$(#& 5-.72.3&).,'-$+5&*1& )#'& 7*%'&(.+ 3.)'& :*1')$3& #./'& .3%*& 4''+& 2%'7& %2(('%%8
)$*+& 2+7'-& (*+)-*3& $+& )#*%'& 0#*& #./' 4'& 2+7'-).>'+;& O& %)'-*$78%,.-$+5& .5'+) 12336& $+& )#'& )-'.):'+)& *1& VC& '$)#'-& .%
/'5').)$/'& *-& :$37& 23('-.)$/'& VC;& E32*-$8 %#*237& 4'& .77'7& .%& %**+& .%& ,*%%$43'& .% :*+*)#'-.,$'%& *-& $+& (*:4$+.)$*+& 0$)#
+.)'7&)*,$(.3&(*-)$(*%)'-*$7&*$+):'+)&.,8 ,-*3*+5'7&)#'-.,6&$%&.+)$($,.)'7&$+&:*%) %6%)':$(&(*-)$(*%)'-*$7%&*-&(6(3*%,*-$+';MS
MEL
W*)#&7-25%&(.2%'&%$5+$@(.+)&$::2+*%2,8 ,#'-'%$%=MQ& .+7& ,3.%:.& 'H(#.+5';& <>$+ 1*-&.&,'-$*7&BN&0''>%&*-&3*+5'-F&,*%)*,8
,-'%%$*+& 0$)#& -'%23).+)& %2%(',)$4$3$)6& *1 5-.1)$+5& %#*237& 4'& ./*$7'7& $1& ,*%%$43' '-.)$/'36&)*&,-'/'+)&)#'&7'/'3*,:'+)&*1
)#'&,.)$'+)&)*&$+1'()$*+&.+7&:.3$5+.+)&7$%8 4'(.2%'&*1&)#'&-$%>&*1&$+72($+5&+'0&VC +'0&VC&3'%$*+%&.+7&%24(2)$(23.-&%2)2-'%
'.%'& .+7& (.+& #./'& *)#'-& ,*)'+)$.336& %'-$8 3'%$*+%& .)& )#'& 7*+*-& %$)'%=& 42)& (23)2-'7 %#*237&4'&2%'7&0#'-'&,*%%$43';&V.)$'+)%
*2%& %$7'& '11'()%;& [+?$H$:.4=& .+& .+)$)2:*- )$%%2'& .33*5-.1)%R.2)*5-.1)%& .+7& )#'& 2%' 0$)#&.&#$%)*-6&*1&VC&.+7&D-*#+&7$%'.%'
+'(-*%$%& 1.()*-& .+)$4*76=& #.%& 4''+& 2%'7 *1&4*/$+'&(*33.5'+&:.)-$H&#./'&4''+&-'8 0#*&.-'&)*&#./'&.+&$3'*%)*:6&%#*237&4'
%2(('%%12336&)*&)-'.)&,.)$'+)%&0$)#&$+?.:8 ,*-)'7&)*&4'&2%'123&$+&,.)$'+)%&$+&0#*: 0.-+'7&.4*2)&)#'&,*%%$43'&7'/'3*,:'+)
:.)*-6& 4*0'3& 7$%'.%'& .+7& #.%& 4''+& -'8 )#'& 7$%'.%'& $%& (*+)-*33'7& 42)& -'8',$)#'8 *1&,'-$%)*:.3&VC&3'%$*+%;&
,*-)'7& )*& 4'& '11'()$/'& $+& %*:'& ,.)$'+)% 3$.3$9.)$*+&$+(*:,3')';NL
0$)#& VC;M!&o)#'-& %$:$3.-& 7-25%& )#.)&#./' "#'& 2+,-'7$().43'& +.)2-'& *1& VC& .+7
4''+& -',*-)'7& )*& 4'& '1@(.($*2%& $+& )#' $)%& /.-$.43'& .55-'%%$/'+'%%& $+& $+7$/$72.3 i.*+).#.)."3.-
)-'.):'+)&*1&,.)$'+)%&0$)#&VC&$+(327'&')8 ,.)$'+)%& :'.+& )#.)& .& ?'H$43'& .,,-*.(#
.+'-(',)& .+7& .7.3$:2:.4;& "#'& -*3'& *1 )*& )-'.):'+)& $%& -'A2$-'7& .+7& )#'& 2%'& *1
'M7+NH<<+K7N7K79C7+<BA6+N;K+=<<+CM=G67KA+
)#'%'&.5'+)%&$+&)#'&:.+.5':'+)&*1&VC&#.% )#'-.,'2)$(& .5'+)%& #./'& )*& 4'& .7.,)'7 BA+=8=B<=J<7+=6+LLL:>BE@S:C;@:
6')&)*&4'&12336&7'@+'7&.+7&%2%(',)$4$3$)6&)* )*&)#'&,.)$'+)n%&,#6%$*3*5$(&%).)'&B(#$378 M; V*0'33&ED=&<2&mV=&V'--6&^o]&V6*7'-:.
-'.()$/.)$*+& *1& )24'-(23*%$%& $+1'()$*+& .+7 #**7=& ,-'5+.+(6=& *37& .5'F;& W6& 0#$(#8 5.+5-'+*%2:]& D3.%%$@(.)$*+& .+7& :.+8
*)#'-&%$5+$@(.+)&%$7'&'11'()%&-':.$+&.&(*+8 '/'-&:*7.3$)6&(*+)-*3&*1&VC&$%&.(#$'/'7= .5':'+); M1 L$1 L!&21 8#($&'%.1 (']PQ!=
('-+&$+&,.)$'+)%&)-'.)'7&0$)#&)#'%'&.5'+)%; :.$+)'+.+('& )#'-.,6& %#*237& 4'& (*+)$+8 MQQK
N; W'++'))& G\& ')& .3]& V6*7'-:.& 5.+5-'+*8
"#'&2%'&*1&)#.3$7*:$7'&$+&)#'&)-'.):'+)&*1 2'7&2+)$3&)#'-'&$%&(*:,3')'&0*2+7&#'.38
%2:;&O&(*:,.-$%*+&*1&)6,$(.3&.+7&.)6,$8
VC&#.%&,-*4.436&4''+&%2,'-%'7'7&46&)#' $+5;& V.)$'+)%& 0$)#& 23('-.)$/'& VC& #./'& . (.3&1*-:%&0$)#&.+&':,#.%$%&*+&)$:'&)*
7'/'3*,:'+)&*1&)#'%'&.5'+)%;&o)#'-&7-25% %$5+$@(.+)& -$%>& *1& -'3.,%'=& %*& 3*+58)'-: -':$%%$*+;& D.%'& -'/$'0& *1& TK& ,.)$'+)%
0#$(#&#./'&4''+&-',*-)'7&)*&4'&#'3,123&$+ 1*33*0&2,&$%&-'A2$-'7; 1-*:& N& $+%)$)2)$*+%;& >#2)!)*# @?&.')$%(#B
)#'&)-'.):'+)&*1& VC&$+(327'&.9.)#$*,-$+' $%]PI=&NLLL
P; V*0'33& ED& ')& .3]& V6*7'-:.& 5.+5-'+*8
B)#$*,2-$+'& :')#63& )-.+%1'-.%'& 3'/'3% %2:]&O&-'/$'0&*1&TK&,.)$'+)%;&T1M1>#2
%#*237&4'&(#'(>'7&,-'8)-'.):'+)F=&(*3(#$8 1).c."'!("
""]MIP=&MQT!
($+'=MK& (6(3*,#*%,#.:$7'=& (#3*-.:42($3= O& ,.)$'+)&0#*&#.%& #.7& .&#$%)*-6& *1&VC S; f*+& 7'+& J-$'%(#& V]& V6*7'-:.& 5.+5-'8
.+7& :'3,#.3.+;& "#'%'& .5'+)%& (.+& #./' %#*237& 4'& .7/$%'7& )*& ./*$7& )-.2:.& )* +*%2:]& O& -',*-)& *1& SS& (.%'%& 0$)#& 1*38
3*082,; ?(1M18#($&'%. #($]MLLL=&MQQI
)*H$(& '11'()%& .+7& 'H,'-$'+('& *1& )#'$-& '1@8 )#'&%>$+&.%&)#'-'&$%&)#'&,*%%$4$3$)6&*1&,-'8
!; m''+$5& Y^& ')& .3]& <>$+& 23('-%& :$%7$.58
(.(6&$%&3$:$)'7; ($,$).)$+5& .& +'0& 3'%$*+& B)#'& ,.)#'-5$( +*%'7& .%& ,6*7'-:.& 5.+5-'+*%2:;& +
o)#'-&:*7.3$)$'%&0#$(#&#./'&4''+&-'8 ,#'+*:'+*+F;& [1& %2(#& ,.)$'+)%& #./'& )* P*E.1M1>#21('$]MSMN=&NLLN
,*-)'7& )*& 4'& 2%'123& $+& )#'& )-'.):'+)& *1 2+7'-5*&%2-5'-6=&)#'6&%#*237&#./'&(3*%' I; D-*0%*+& OU=& G$#:& GD& e-=& G.5-*
$+7$/$72.3&,.)$'+)%&*-&%:.33&%'-$'%&*1&,.8 %2,'-/$%$*+& 46& .& 7'-:.)*3*5$%)& *1& )#'$- DG]&V6*7'-:.&5.+5-'+*%2:]&O&-'/$'0;
M17/'&*1A&'"%.1(*]QI=&NLLP
)$'+)%& 0$)#& VC& $+(327'& #2:.+& $+)-./'8 ,*%)*,'-.)$/'& (*2-%';& V.)$'+)%& 0$)#& . T; <2&mV&')&.3]&^$%)*,.)#*3*5$(&.+7&$::28
+*2%& $::2+*53*423$+=MI& $+)'-1'-*+8 = #$%)*-6&*1&.55-'%%$/'&VC&:.6&0.--.+)&. +*,.)#*3*5$(& %)276& *1& ,6*7'-:.& 5.+8
+$(*)$+'=MT&,*).%%$2:&$*7$7'=&3'2>*(6).8 (*2-%'& *1& %6%)':$(& %)'-*$7%& 72-$+5& .+7 5-'+*%2:; M17/'&*1A&'"%. #(]PNP=&MQTK
32%1'.)+44 /.-$.+)&#.%&4''+&7'%(-$4'7&.%&'*%$+*,#$3$(
.+5$*('+)-$(& @4-*%$%=& 0#$(#& )6,$(.336& $+8 I)%"0$(&%
/*3/'%&)#'&2,,'-&-'%,$-.)*-6&)-.();T
;2)-'(,O).B)4+)(% #%3!%$.
,=KBHA+):+&7MK7E=9
.'!($(I*+%",+1%'2(I.".-!-
"#'&')$*3*56&*1&5-.+23*:.&1.($.3'&$%&2+8
%'+%+I$%"3.+
,=8B>+%:+&7MK7E=9 >+*0+;&"#'&7$%'.%'&(.+&4'&(*+%$7'-'7&.
3*(.3$9'7& (#-*+$(& @4-*%$+5& /.%(23$)$%;Q
[::2+*?2*-'%('+('& %)27$'%& #./'& -'8
2!-'()!3%$+%-1.3'- /'.3'7& 7',*%$)$*+& *1& $::2+*53*423$+%
.+7& (*:,3':'+)& 1.()*-%& $+& )#'& /'%%'3
0.33%& (*+%$%)'+)& 0$)#& .& )6,'& [[[& $::28
.1!,.&!($(I* +*3*5$(&-'%,*+%'=&:.->'7&46&7',*%$)$*+
C-.+23*:.&1.($.3'P&*((2-%&,-'7*:$+.+)36 IK=9H<;@=+N=CB=<7+BA+=9+H9C;@@;9+
*1&($-(23.)$+5&$::2+'&(*:,3'H'%&$+&/.%8
B9`=@@=6;KF+>7K@=6;ABA+CM=K=C67KBZ7>+
$+& .723)& :'+& .+7& 0*:'+;& "#'-'& $%& . (23.-& 32:$+.;ML& ^*0'/'-=& *)#'-& .2)#*-%
%3$5#)&:.3'&,-'7*:$+.+('=&.+7&:'.+&.5' C<B9BC=<<F+JF+K7>>BAM+JK;L9+G=GH<7A+=9>+
#./'& 7'%(-$4'7& +'5.)$/'& -'%23)%& 0$)#
.)&,-'%'+).)$*+&$%&!N&6'.-%;S=!&C-.+23*:. G<=VH7A+GKB@=KB<F+B98;<8B9E+6M7+N=C7:
$::2+*?2*-'%('+(';MM
1.($.3'& (.+& *((2-& $+& $+7$/$72.3%& *1& .+6 'M7+G=6M;<;EF+AM;LA+CM=9E7A+;N+=+
-.('Z& #*0'/'-=& $)& $%& :*-'& (*::*+& $+ CMK;9BC+<7HD;CF6;C<=A6BC+8=ACH<B6BA+LB6M+=+
D.2(.%$.+%;& "#'& 7$%'.%'& ,-'%'+)%& :*%) 3$!"!3%$+#!",!"I- @BP7>+B9W<6K=67+C;96=B9B9E+7;AB9;GMB<AO+
(*::*+36& 0$)#& .& %$+53'& 3'%$*+& *+& )#' C-.+23*:.&1.($.3'&$%&(#.-.()'-$9'7&46&%*38 7P679AB87+G7KB8=ACH<=K+WJKB9+>7G;AB6B;9O+
1.('=& 42)& 'H)-.81.($.3& 3'%$*+%& #./'& 4''+ $).-6&,.,23'%=&,3.A2'%=&*-&+*723'%;&"#'&3'8 =9>+>7K@=<+WJK;ABA:
7'%(-$4'7;K&V.)$'+)%&0$)#&:23)$,3'&3'%$*+% %$*+%& .-'& )6,$(.336& .%6:,)*:.)$(& -'7= .6B;<;EF+BA+H9D9;L9:
ME! #./'&.3%*&4''+&-',*-)'7;I&O&-.-'&:2(*%.3 4-*0+=&*-&/$*3.('*2%&,3.A2'%&)#.)&.-'&%*1)
$+?.::.)*-6& $+@3)-.)'& 46& .& +.--*0
5-'+9&9*+'&BE$5;&PP8PF;&m$)#$+&)#'&7'-8
:$%& $%& .& 7'+%'& .+7& 7$112%'& $+@3)-.)'& *1
36:,#*(6)'%=& ,3.%:.& ('33%=& '*%$+*8
,#$3%=&.+7&+'2)-*,#$3%&0$)#&'/$7'+('&*1
3'2>*(6)*(3.%$%&BE$5;&PP8SF;&"#'&$+?.:8
:.)*-6& $+@3)-.)'& %2--*2+7%& )#'& 43**7
/'%%'3%=&0#$(#&%#*0&'/$7'+('&*1&@4-$+
7',*%$)$*+;& [+& 3.)'-& %).5'%=& )#'& ,'-$8
/.%(23.-&@4-$+&7',*%$)$*+&4'(*:'%&'H8
)'+%$/'& .+7& 7*:$+.)'%& )#'& #$%)*3*5$(
,$()2-';& J',*%$)$*+& *1& #':*%$7'-$+
BC;<$:.MMGL IK=9H<;@=+N=R :.6& (*+)-$42)'& )*& )#'& 4-*0+& (*3*-
%''+& (3$+$(.336;& a3'()-*+& :$(-*%(*,$(
CB=<7:+ )=BA7>+ 7>7@=6;HA+ G<=VH7A
%)27$'%&(*+@-:&)#'&,-'%'+('&*1&.+&'H8
;9+CM77D+AM;LB9E+GK;@B9796+N;<R
)'+%$/'& '*%$+*,#$3$(& $+@3)-.)'& 0$)#
<BCH<=K+;A6B=: D#.-(*)8\'67'+& (-6%).3%& .+7& +2:'-8
*2%& #$%)$*(6)'%& @33'7& 0$)#& 36%*%*:.3
.+7& 0'33& ($-(2:%(-$4'7& BE$5%;& PP8M& .+7 "#'&7$.5+*%$%&:.6&4'&'%).43$%#'7&46 /'%$(3'%Z& #*0'/'-=& (.%'%& 0$)#& 1'0& '*8
PP8NF;& \'%$*+%& .-'& :*%)& (*::*+& *+& )#' .& (*:4$+.)$*+& *1& (3$+$(.3& @+7$+5%& .+7 %$+*,#$3%& $+& )#'& $+@3)-.)'& #./'& .3%*
1.(';&<$)'%&*1&,-'7$3'()$*+&$+(327'&)#'&+*%'= (*+@-:.)*-6& )$%%2'& 4$*,%6& -'%23)%;& O 4''+&7'%(-$4'7;MP&[::2+*53*423$+%=&@8
,-'.2-$(23.-& .-'.=& (#''>%=& 1*-'#'.7=& '6'8 ,2+(#& 4$*,%6& )#.)& $+(327'%& )#'& 1233 4-$+=& .+7& (*:,3':'+)& (.+& 4'& 1*2+7
3$7%=& .+7& '.-%;S=MM& Y.-'36=& ,.)$'+)%& :.6 )#$(>+'%%& *1& )#'& 7'-:$%& $%& -'(*:8 7',*%$)'7& .3*+5& )#'& 7'-:*8',$7'-:.3
,-'%'+)&0$)#&:23)$,3'&3'%$*+%&*-&3'%$*+%&*+ :'+7'7;&^$%)*3*5$(&'H.:$+.)$*+&%#*0% _2+()$*+& $+& .& 5-.+23.-& ,.))'-+& .+7
)#'& )-2+>& *-& 'H)-':$)$'%;& aH)-.81.($.3& 3'8 .& +*-:.38.,,'.-$+5& ',$7'-:$%=& 0#$(# .-*2+7& 43**7& /'%%'3%& 46& 7$-'()
%$*+%&#./'&4''+&-',*-)'7&4*)#&.%&$%*3.)'7 :.6&4'&%',.-.)'7&1-*:&)#'&2+7'-36$+5 $::2+*?2*-'%('+(';ML
@+7$+5%&.+7&$+&(*+_2+()$*+&0$)#&1.($.3&3'8
%$*+%;& \'%$*+%& :.6& 4'& ,-'%'+)& 1*-& 0''>%
*-& :*+)#%& .+7& )'+7& )*& 1*33*0& .& (#-*+$(
(*2-%';& "#'& ,3.A2'%& )6,$(.336& #./'& .
%:**)#&%2-1.('&.+7&%#*0&7$3.)'7&1*33$(28
3.-&*%)$.&B%''&E$5;&PP8MF;&l3('-.)$*+&$%&-.-';
\'%$*+%&.-'&)6,$(.336&.%6:,)*:.)$(Z&#*08
'/'-=& ,.)$'+)%& :.6& (*:,3.$+& *1& )'+7'-8
+'%%=& 42-+$+5=& *-& ,-2-$)2%;S& V#*)*8'H.('-8
4.)$*+&*1&3'%$*+%&#.%&4''+&-',*-)'7;MN
$%/()%'()*+#!",!"I-
O+&'H)'+%$/'&3.4*-.)*-6&'/.32.)$*+&$%
+*)& -'A2$-'7;& V'-$,#'-.3& 43**7& '*%$+*8
,#$3$.&$%&*((.%$*+.336&7')'()'7;
BC;<$:.MMGM IK=9H<;@=+N=CB=<7:+'MBA+<;LRG;L7K+MBA6;<;EBC+A7C6B;9+AM;LA+=+@BP7>+B9W<6K=67+;N+<F@R
GM;CF67AO+MBA6B;CF67AO+97H6K;GMB<AO+G<=A@=+C7<<AO+=9>+7;AB9;GMB<A:+'M7K7+BA+AG=KB9E+;N+=+9=KK;L+EK79Z+Z;97
J76L779+6M7+B9`=@@=6;KF+B9W<6K=67+=9>+6M7+;87K<FB9E+7GB>7K@BA:
MES
*1& ,.)$'+)%=& 0#*%'& 7$%'.%'& (3$+$(.336& -'8
32%1'.)+4] %':43'7&<VJ=&$+)-.',$7'-:.3&[5O&7',*%8 -0/R3()".%$
$)%&#./'&4''+&7')'()'7;&<*:'&*1&)#'%'&,.8
H'WG>,2-%)(.1'9*'()2. )$'+)%&.3%*&#.7&($-(23.)$+5&[5O&.+)$4*7$'%
.5.$+%)&)#'&%.:'&%$)'%&0$)#$+&)#'&',$7'-8
10-'0$%)
A%2O)*,9+9.XH-%33,-G :$%;& J'%:*(*33$+& M& #.%& 4''+& 7'%(-$4'7
.%&.+&.2)*.+)$5'+&$+&)#'%'&(.%'%&.+7&)#'
,.)&%'(-!-
R+(`+-9,-.A+9%)9%Z 7$%'.%'&#.%&4''+&(3.%%$@'7&.%&.&-.-'&,':8
,#$52%& /.-$.+)& B<VJ8)6,'& [5O& ,':,#$8 %'+%+I$%"3.+
52%F;P=!=K& "#'& ,.)#*5'+')$(& -*3'& *1& )#'%'
#K=9Z+'K=H6B9E7K .+)$4*7$'%&$%&%)$33&)*&4'&7':*+%)-.)'7;I
27KJ7K6+2j9BEA@=99 "#'& *((.%$*+.3& .%%*($.)$*+& *1& <VJ
0$)#& ('-).$+& *)#'-& 7$%'.%'%& :.6& -',-'8
%'+)& :*-'& )#.+& .& :'-'& (*$+($7'+(';& [+8
<248(*-+'.3&,2%)23.-&7'-:.)*%$%&B<VJF&$% (-'.%'7&%'-2:&[5O&#.%&4''+&7')'()'7&$+&.
.& -.-'=& (#-*+$(=& -'(2--'+)=& ,2%)23.-& '-2,8 +2:4'-& *1& ,.)$'+)%=& .+7& )#'& 7$%'.%'& #.%
)$*+&(#.-.()'-$9'7&#$%)*,.)#*3*5$(.336&46 4''+& -',*-)'7& )*& *((2-& $+& (.%'%& *1& [5O8 %+K=K7+C;9>B6B;9+LB6M+L;K<>LB>7+;CCHKR
%248(*-+'.3& ,2%)23'%& )#.)& (*+).$+& .42+8 ,.-.,-*)'$+':$.& .+7& [5O& :23)$,3'& :68 K79C7:
7.+)& +'2)-*,#$3%;& "#'& (*+7$)$*+& 0.% '3*:.;TXMM&[+&.77$)$*+=&<VJ&$%&.%%*($.)'7 %+CMK;9BC+K7CHKK796+>BA;K>7K+LB6M+=+
*-$5$+.336&7'%(-$4'7&$+&MQ!K&46&<+'77*+ 0$)#& ,6*7'-:.& 5.+5-'+*%2:=MN=MP& 23('-8 J79BE9+C;HKA7O+NK7VH796<F+=AA;CB=67>+LB6M+
.+7& m$3>$+%*+=M& 0#*& %',.-.)'7& <VJ .)$/'& (*3$)$%=MS& .+7& D-*#+& 7$%'.%';M!& o+ 8=KB;HA+N;K@A+;N+B@@H97+>FANH9C6B;9+
1-*:&*)#'-&,-'/$*2%36&2+(3.%%$@'7&,2%)28 )#'&*)#'-&#.+7=&,6*7'-:.&5.+5-'+*%2: b@;A6+C;@@;9<F+B@@H9;E<;JH<B9+%+^!E%_+
3.-& '-2,)$*+%;& l+)$3& MQKK=& 0#'+& )#'& @-%) $%& +*)& 2+(*::*+& $+& ,.)$'+)%& 0$)#& $+8 @;9;C<;9=<+E=@@;G=6MFd:+(CCHKK79C7+;N+
(*:,-'#'+%$/'& -'/$'0& .,,'.-'7=& :*-' ?.::.)*-6& 4*0'3& 7$%'.%'=& ,.-.,-*)'$+8 B96K=7GB>7K@=<+>7G;AB6A+;N+!E%+B9>BC=67+=+
)#.+& MPL& (.%'%& #.7& 4''+& -',*-)'7=& 42) ':$.=& .+7& :6'3*:.& B%''& D#.,;& PNF; K7<=6B;9AMBG+LB6M+!E%+G7@GMBEHA:
+*)& .33& 123@33'7& )#'& (3$+$(.3& .+7& #$%)*8 m#')#'-&*-&+*)&)#'&(*8'H$%)'+('&*1&)#'%' 3K;GA+;N+`=CCB>O+C;=<7ACB9E+GHA6H<7Af+
,.)#*3*5$(&(-$)'-$.&-'A2$-'7&1*-&)#$%&7$.58 (*+7$)$*+%&-'?'()%&(*::*+&,.)#*5'+')$( ;N679+B9+=99H<=K+;K+A7KGBEB9;HA+G=667K9A:
+*%$%;N& O& (*+%$7'-.43'& +2:4'-& *1& .77$8 :'(#.+$%:%& -':.$+%& )*& 4'& (3.-$@'7=& 42)
0AH=<<F+>BA6KBJH67>+AF@@76KBC=<<F+B9+6M7+
)$*+.3& (.%'%& #./'& %$+('& .,,'.-'7& $+& )#' .+&.77$)$*+.3&(*::*+&7'+*:$+.)*-&3$+>8
=PB<<=7O+EK;B9AO+AHJ@=@@=KFO+6M7+`7P;K+
3$)'-.)2-'=& .+7& .& %248)6,'& 0$)#& $+)-.',$8 $+5& )#'%'& 7$%*-7'-%& $%& )#'$-& -'%,*+%'& )*
=AG7C6A+;N+6M7+<B@JAO+=9>+;9+6M7+=J>;@79:
7'-:.3& 7',*%$)%& *1& $::2+*53*423$+& O %231*+'&.+7&%231*+.:$7'&)#'-.,6;
B[5OF& 7$-'()'7& .5.$+%)& 7'%:*(*33$+& M& #.% E2-)#'-& .%%*($.)$*+%& -',*-)'7& )*& 7.)' 1=6M;<;EFh+-HJRC;K97=<+GHA6H<7A+W<<7>+
4''+&-'(*5+$9'7;P&"*7.6=&)#'%'&(.%'%&.-' $+(327'& [5C& ,.-.,-*)'$+':$.=MK=MI& DJPLi LB6M+G;<F@;KGM;9HC<7=K+<7HD;CF67A:+
2%2.336& (3.%%$@'7& .%& <VJ8)6,'& [5O& ,':8 .+.,3.%)$(& 3.-5'8('33& 36:,#*:.=MT& +*+8
,#$52%& .+7& $)& $%& .& :.))'-& *1& 7'4.)' %:.33&('33&32+5&(.+('-=MQ&.,27*:.=NL&-#'28
0#')#'-&)#'&@+7$+5&*1&',$7'-:.3&[5O&7'8 :.)*$7& .-)#-$)$%=NM=NN& #6,'-)#6-*$7$%:=NP *1& +'0& 3'%$*+%;& "#'& '-2,)$*+%& )'+7& )*
,*%$)%& 7'@+'& .& %24%')& *1& <VJ& *-& .& +'0 .+7&:6(*,3.%:.&,+'2:*+$.'&$+1'()$*+;NS *((2-& %6::')-$(.336=& .11'()$+5& :.$+36
,':,#$52%& /.-$.+)& )#.)& $%& *)#'-0$%'& $+8 )#'& .H$33.'=& 5-*$+=& .47*:'+=& %24:.:8
7$%)$+52$%#.43'&1-*:&b(3.%%$(c&<VJ; :.-6&.-'.%=&.+7&)#'&?'H*-&.%,'()%&*1&)#'
3$!"!3%$+#!",!"I- 3$:4%;& [+& -.-'& (.%'%=& )#'& 1.('=N!& ,.3:%=
"#'& ,-$:.-6& 3'%$*+%& .-'& %:.33=& 7$%(-')'= .+7& %*3'%NK& :.6&4'& $+/*3/'7;& <(.3,& .+7
.1!,.&!($(I* ?.(($7& ,2%)23'%& *-& /'%$(3'%& )#.)& -.,$736 :2(*2%& :':4-.+'%& $+/.-$.436& -':.$+
"#'-'& $%& +*& -.($.3& ,-'7$3'()$*+;& G*%)& *1 )2-+& ,2%)23.-& .+7& 2%2.336& .-$%'& $+& (-*,% 1-''& *1& 3'%$*+%;& a,$%*7$(& $)(#$+5& .+7
)#'&-',*-)'7&(.%'%&#./'&4''+&$+&0#$)'%= 0$)#$+&.&1'0&#*2-%&*+&(3$+$(.336&+*-:.3 42-+$+5& -',-'%'+)& %24_'()$/'& %6:,)*:%
42)& )#'& 7$%'.%'& #.%& .3%*& 4''+& *4%'-/'7 *-&%3$5#)36&'-6)#':.)*2%&%>$+&BE$5;&PS8MF; $+&.&%:.33&+2:4'-&*1&,.)$'+)%=&42)&)#'-'
$+&O1-$(.+%=&e.,.+'%'=&.+7&D#$+'%';&"#' [+& 7','+7'+)& -'5$*+%=& ,2%& (#.-.()'-$%)$8 .-'&+*&%6%)':$(&%6:,)*:%&*-&.4+*-:.38
(*+7$)$*+& $%& :*-'& (*::*+& $+& 0*:'+ (.336& .((2:23.)'%& $+& )#'& 3*0'-& #.31& *1 $)$'%&$+&-*2)$+'&3.4*-.)*-6&,.-.:')'-%;
.+7& $+& ,'-%*+%& *37'-& )#.+& SL& 6'.-%& *1 )#'&,2%)23'& B%''&E$5;&PS8MWFZ&.%&)#'&,2%8
.5'=& 42)& <VJ& :.6&*((2-& .)& .+6& .5';N& O )23'%&2%2.336&#./'& )#'&)'+7'+(6&)*&(*.8
,2%)23.-& '-2,)$*+& )#.)& $%& (3$+$(.336& .+7 3'%('=& )#'6& *1)'+=& 42)& +*)& .30.6%=& 1*-: 2!-'(1%'2($(I*
#$%)*3*5$(.336& %$:$3.-& )*& )#'& #2:.+& 7$%8 .++23.-=&($-($+.)'=&*-&4$9.--'&%'-,$5$+*2% "#'&#.33:.->&*1&)#'&7$%'.%'&$%&.&%)-$()36
'.%'=& 0#$(#& .3%*& -'%,*+7%& )*& 7.,%*+' ,.))'-+%;&O1)'-&.&1'0&7.6%=&)#'&,2%)23'% %248(*-+'.3&,2%)23'&@33'7&0$)#&,*36:*-8
)-'.):'+)=&#.%&4''+&*4%'-/'7&$+&7*5%;S -2,)2-'&.+7&7-6&2,&)*&1*-:&)#$+=&%2,'-@8 ,#*+2(3'.-& 3'2>*(6)'%=M& 0$)#& *+36& .+
($.3&%(.3'%&.+7&(-2%)%=&(3*%'36&-'%':43$+5 *((.%$*+.3& '*%$+*,#$3;N& O(.+)#*36%$%& $%
$:,')$5*;&V'-$,#'-.3&%,-'.7$+5&.+7&('+8 +*)&$+/*3/'7&$+&,2%)23'&1*-:.)$*+=&42)&.
.'!($(I*+%",+1%'2(I.".-!- )-.3& #'.3$+5& 3'./'& ,*36(6(3$(=& '-6)#':.8 1'0& .(.+)#*36)$(& ('33%& :.6& 4'& 1*2+7& $+
"#'&(.2%'&*1&<VJ&$%&2+>+*0+;&D23)2-'% )*2%& .-'.%& $+& 0#$(#& +'0& ,2%)23'%& .-$%' *37'-& 3'%$*+%& B%'(*+7.-6& .(.+)#*36%$%F;
*1&)#'&,2%)23'%&(*+%$%)'+)36&7*&+*)&-'/'.3 .%& *)#'-%& 7$%.,,'.-& B%''& E$5;& PS8MOF; <2-,-$%$+536=& )#'& ',$7'-:.3& 3.6'-%& 2+8
4.()'-$.3& 5-*0)#;& "#'& -*3'& *1& )-$55'- "#'-'& $%& +*& .)-*,#6& *-& %(.--$+5=& 42)& .+ 7'-36$+5&)#'&,2%)23'&'H#$4$)&3$))3'&,.)#*38
:'(#.+$%:%& %2(#& .%& ,-'('7$+5& *-& (*+8 *((.%$*+.3& 4-*0+$%#& #6,'-,$5:'+).8 *56=&.+7=& .,.-)&1-*:&.& /.-$.43'& +2:4'-
(*:$).+)& $+1'()$*+%=& )#*25#& -','.)'736 )$*+&:.6&:.->&,-'/$*2%36&.11'()'7&%$)'%; *1& :$5-.)$+5& 3'2>*(6)'%=& )#'-'& $%& 3$))3'
7$%(2%%'7=&#.%&-':.$+'7&%,'(23.)$/';&[:8 f.-$.43'& $+)'-/.3%& *1& A2$'%('+('=& 3.%)$+5 '/$7'+('&*1&%,*+5$*%$%&*-&(6)*36)$(&7.:8
:2+*3*5$(&:'(#.+$%:%&#./'&4''+&$:,3$8 1-*:&.&1'0&7.6%&)*&%'/'-.3&0''>%=&:.6 .5'& )*& )#'& ',$7'-:.3& ('33%;& "#'& 7'-:$%
(.)'7&$+&)#'&,.)#*5'+'%$%=&.+7&$+&.&%24%') 4'&1*33*0'7&46&)#'&%277'+&7'/'3*,:'+) (*+).$+%& .& ,'-$/.%(23.-& $+@3)-.)'& (*:8
MET
#,-&'.)*
?.KK(*(%).$/&?.$J%+2.2&+K&="IH3+*%($/&
4"2)"/$*&?(*#$)+2.2
/=C67KB=<+B@G76BE;
,7K@=6B6BA+M7KG76BN;K@BA
17@GMBEHA+N;<B=C7HA
!@@H9;E<;JH<B9+%+G7@GMBEHA[B96K=7GB>7KR
@=<+B@@H9;E<;JH<B9+%+GHA6H<;ABA
1HA6H<=K+GA;KB=ABA
"7CK;<F6BC+@BEK=6;KF+7KF6M7@=
%CH67+E797K=<BZ7>+7P=96M7@=6;HA+
GHA6H<;ABA
5 \ >
BC;<$:.MTGL 2FG7K7;AB9;GMB<BC+AF9>K;@7:+&HC;A=<+7K;AB;9A+=9>+H<C7KA+;N+6M7+@;H6M+^5_+=9>+E<=9A+G79BA+^\_f+C;9XH9C6B8=<+BKKB6=6B;9+^>_:
ME#
,'-$,#'-.3& 43**7& %)':& ('33& .33*5'+'$(
12+5.3& $+1'()$*+=& .+7& "8('33& 36:,#*:.;
"#'-'&.-'&:23)$,3'&7$%'.%'%&$+&)#'&7$11'-8 )-.+%,3.+).)$*+=!S=!!& -',-'%'+)& .77$8 k.$$-+
'+)$.3&7$.5+*%$%&*1&,.)$'+)%&0$)#&*-*5'+8 )$*+.3& *,)$*+%;& "0*& :*+*(3*+.3& .+)$8
$).3& 23('-%=SS& $+(327$+5& )#*%'& .%%*($.)'7
0$)#& )#-*:4*%$%=& %2(#& .%& W'#w')& %6+8
4*7$'%& .5.$+%)& #2:.+& [\8!& #./'& 4''+
.%%*($.)'7& 0$)#& (3$+$(.3& $:,-*/':'+)
-*",)(&.
7-*:'=&D-*#+&7$%'.%'=&23('-.)$/'&(*3$)$%=
.+7& Y'$)'-& %6+7-*:';& o)#'-%& (*+%$7'-8
.+7&-'72()$*+%& $+& ,'-$,#'-.3& 43**7& .+7
7'-:.3& '*%$+*,#$3%=& ,.-)$(23.-36& $+& ,.8
^.(-!"(12!$!3
.)$*+%& .-'& -'(2--'+)& .,#)#*2%& %)*:.)$8
)$%=& $::2+*4233*2%& 7$%'.%'%=& '-6)#':.
)$'+)%&0$)#&36:,#*(6)$(&^a<;!K
3.$$0$!'!-_
:23)$1*-:'=& 3$(#'+& ,3.+2%=& #'-,'%& %$:8
,3'H&$+1'()$*+=&.+7&%6,#$3$%; k.$$-+-*",)(&. %'+%+I$%"3.+
2BA6;KF
'K7=6@796
"#'& 5*.3& *1& )-'.):'+)& $%& )*& -'3$'/' .GB>7@B;<;EF
%6:,)*:%& .+7& $:,-*/'& *-5.+& 12+()$*+
m'33%&%6+7-*:'&$%&,-$:.-$36&.&7$%'.%'&*1
0#$3'& >'',$+5& ,'-$,#'-.3& 43**7& '*%$+*8
.723)%=& 42)& .,,-*H$:.)'36& PL& ,'7$.)-$(
,#$3%& .)& MLLL& )*& NLLLR!\& .+7& :$+$:$98
,.)$'+)%& #./'& 4''+& -',*-)'7;!I=!QXKQ& E.8
$+5& )-'.):'+)& %$7'& '11'()%& BE$5;& P!8NF;NS -B9E<7+;K+@H<6BG<7+<7AB;9A+C;@@;9<F+
:$3$.3&'*%$+*,#$3$(&('3323$)$%&#.%&4''+&7'8
G6'3*,-*3$1'-.)$/'& ^a<& $%& /'-6& -'%,*+8 <;C=67>+;9+6M7+7P6K7@B6B7A+;K+6KH9D:
%(-$4'7;IL& "#'& 7$%'.%'& #.%& +*& 5'+7'-
%$/'& )*& $:.)$+$4;& [+& ,.)$'+)%& 0$)#& )#' $7AB;9A+@=F+J7+G=B9NH<+;K+GKHKB6BC:
,-'7$3'()$*+;
:2).+)&5'+'&U;A5V5:A89UGL=&.7:$+$%8
-;@76B@7A+=AA;CB=67>+LB6M+E797K=<+@=<R
)-.)$*+&*1&$:.)$+$4&:'%63.)'&$%&$+7$(.)'7
=BA7+JH6+;9<F+H9C;@@;9<F+LB6M+N787K:
.+7&2%2.336&$+72('%&#':.)*3*5$(&-':$%8 .6B;<;EF
%$*+=& 42)& '+7*:6*(.-7$.3& 7$%'.%'& :.6 .>7@=6;HA+=9>+7KF6M7@=6;HA+<7AB;9A+
0*-%'+& 72-$+5& )#'& @-%)& %'/'-.3& 7.6%& *1 m#')#'-& m'33%& %6+7-*:'& $%& .& %,'($@( 78;<87+B96;+G<=VH7A+LB6M+8B;<=C7;HA+
)-'.):'+);& "-*,*+$+& 3'/'3%& %#*237& 4' '+)$)6&)#.)&$%&)-$55'-'7&46&1.()*-%&$+(3278 J;K>7KA:+
:*+$)*-'7& 4'1*-'& .+7& 72-$+5& $:.)$+$4 $+5& 2+7'-36$+5& 7$%'.%'=& $+1'()$*+=& .+7 /<BA67KA+@=F+J7+=+GK;@B9796+N7=6HK7:
)#'-.,6;& "*& $:,-*/'& (.-7$.(& 12+()$*+= 7-25%=&*-&0#')#'-&$)&$%&:'-'36&.&-'.()$*+
!9>B8B>H=<+<7AB;9A+G7KABA6+N;K+L77DA+=9>+
532(*(*-)$(*$7%& %#*237& 4'& 5$/'+& 4'1*-' ,.))'-+&:.6&4'&7$1@(23)&)*&7$%('-+&1-*:
EK=>H=<<F+CM=9E7+NK;@+K7>+6;+J<H7REK=F+;K+
.+7& 0$)#& $+$)$.)$*+& *1& $:.)$+$4& )#'-8 %*:'&*1&)#'&-',*-)'7&(.%'%&.+7&$+&,-.(8
EK779BAM+EK=FO+K7A7@J<B9E+@;KGM7=:
.,6;MN=PT& [:.)$+$4& -'%$%).+('& (.+& 7'8 )$(';IM&O%%*($.)$*+&*1&'*%$+*,#$3$(&('3323$8
)$%&0$)#&.&-.+5'&*1&7$%*-7'-%&B".43'&P!8PF= &H<6BG<7+K7CHKK79C7A:
/'3*,;ST=SQ& [+& )#'& .4%'+('& *1& )#'& 5'+'
:2).)$*+=& .1)'-& 6'(%*E0.%)2#-& $+1'()$*+ $+(327$+5& .-)#-*,*7& 4$)'%=KL=KK=IN& :6'3*8 17KBGM7K=<+J<;;>+7;AB9;GMB<B=+C;@@;9:
#.%&4''+&'H(327'7=!L&@-%)83$+'&)#'-.,6&$% ,-*3$1'-.)$/'& 7$%'.%'=IN& (*3*+& (.+('-=IP 2BA6;<;EBC+G=667K9+CM=K=C67KBZ7>+JF+>7KR
,-'7+$%*+';& O,,-*H$:.)'36& IL& ,'-('+) -'.()$*+& )*& )#$:'-*%.38(*+).$+$+5& /.(($8 @=<+B9W<6K=6B;9+LB6M+7;AB9;GMB<AO+=9>+
*1&,.)$'+)%&0$33&-'%,*+7=&0$)#&,'-$,#'-.3 +.)$*+=IS&D#2-58<)-.2%%&%6+7-*:'=K!D `=@7+WEHK7A+AHKK;H9>7>+JF+MBA6B;CF67A:
'*%$+*,#$3& (*2+)%& -')2-+$+5& )*& +*-:.3; ,'-'*%$+*,#$3$(& %6+7-*:'%=SL=SM& 7'-:*8
5-.,#$%:=I!& *+(#*('-($.%$%=KM& #'-,'% -FA67@BC+E<HC;C;K6BC;B>A+HAH=<<F+J797WCB=<:
V.)$'+)%&1*-&0#*:&532(*(*-)$(*$7&:*+*8
)#'-.,6& 1.$3%& #./'& .& 0*-%'& ,-*5+*%$% %$:,3'H& $+1'()$*+=IK& $::2+*4233*2%& 7$%8
5'+'-.336Z& $+& %2(#& (.%'%=& *-& 0#'+& 3*+58 '.%'=KL=II&.+7&7-25&-'.()$*+%IT=IQ&%255'%)% ,*-)'7& 46& m'33%;!I& O1)'-& ,-*7-*:.3
)'-:& %$7'& '11'()%& 4'(*:'& ,-*43':.)$(= )#.)&$)&$%&.&-'.()$/'&*-&.33'-5$(,'-%'+%$8 42-+$+5& *-& $)(#$+5=& 3'%$*+%& 4'5$+& 0$)#
*)#'-& )-'.):'+)%& %#*237& 4'& 2%'7;& V.8 )$/$)6&,#'+*:'+*+=&.3)#*25#&)#'&,.)#*8 '-6)#':.& .+7& '7':.& BE$5;& P!8POF=
)$'+)%&0#*&#./'&1'.)2-'%&*1& :6'3*,-*8 5'+'%$%&$%&2+>+*0+;TL %*:')$:'%&$+&)#'&1*-:&*1&.++23.-&*-&.-8
3$1'-.)$/'& ^a<& 42)& 0#*& 3.(>& U;A5V5: J',*%$)$*+& *1& )*H$(& 5-.+23'& ,-*)'$+% (2.)'&,3.A2'%&*-&+*723'%;&o/'-&.&,'-$*7
A89UGL& %)$33& :.6& -'%,*+7& )*& $:.8 $+&3'%$*+.3&)$%%2'%=&-'/'.3'7&46&$::2+*8 *1& 7.6%=& )#'6& '/*3/'& $+)*& 3.-5'& '7':.8
)$+$4;NN& [+)'-1'-*+8 & B[EU8 F& #.%& 4''+ ?2*-'%('+('& )'%)$+5=& ,-*/$7'%& '/$7'+(' )*2%& ,3.A2'%& 0$)#& /$*3.('*2%& 4*-7'-%;
4'+'@($.3& $+& )-'.)$+5& :6'3*$7& .+7& 36:8 )#.)& '*%$+*,#$3& 7'5-.+23.)$*+& (*+)-$48 W233.'& :.6& 7'/'3*,;& [+7$/$72.3& 3'%$*+%
,#*(6)$(& ^a<;!M& [+& *+'& ,.)$'+)=& 3*%%& *1 2)'%& )*& ?.:'& @52-'& 1*-:.)$*+& $+& m'33% 5-.72.336& (#.+5'& 1-*:& 4-$5#)& -'7& )*
)#' U;A5V5WA89UGL& :2).)$*+& .1)'- %6+7-*:';KT& [+7''7=& m'33%& .+7& <:$)# 4-*0+8-'7& .+7& )#'+& )*& 432'85-.6& *-
%'/'-.3& 6'.-%& *1& [EU8 & )#'-.,6& 0.%& .%8 ,*%)23.)'7&)#.)&$+@3)-.)$*+&*1&,#.5*(6)$( 5-''+$%#&5-.6=&-'%':43$+5&:*-,#'.&BE$5;
%*($.)'7& 0$)#& (*:,3')'& -':$%%$*+;!N #$%)$*(6)'%& 4')0''+& (*33.5'+& 42+73'% P!8PWF;& \'%%& (*::*+& (3$+$(.3& ,-'%'+8
o)#'-& )-'.):'+)%& 0$)#& -',*-)'7& 4'+'@) :.6& 4'& .& -'%,*+%'& )*& (*33.5'+& 7.:.5' ).)$*+%& $+(327'& ,.,23'%=& /'%$(3'%& BE$5;
$+(327'& #67-*H62-'.=& 7.,%*+'=& /$+(-$%8 $+72('7& 46& '*%$+*,#$3& (6)*)*H$($)6;KL P!8SF=& .+7& #':*--#.5$(& 4233.';& "#'& (28
)$+'& %231.)'=& (6(3*,#*%,#.:$7'=& :')#*8 "#'& %'/'-$)6& *1& m'33%& %6+7-*:'& #.% ).+'*2%&3'%$*+%&:.6&4'&%$+53'&*-&:23)$8
)-'H.)'=&K8)#$*52.+$+'=&N8(#3*-*7'*H6.78 4''+&(*--'3.)'7&0$)#&%'-2:&3'/'3%&*1&[\8 ,3'&.+7&:.6&4'&3*(.)'7&.)&.+6&%$)'=&42)
'+*%$+'& .+7& (6).-.4$+'& (*:4$+.)$*+ !&.+7&'*%$+*,#$3&(.)$*+$(&,-*)'$+=TM&.+7 )6,$(.336& $+/*3/'& )#'& 'H)-':$)$'%& .+7
)#'-.,6=& ,23%'7& (#3*-.:42($3=& ')*,*8 [\8!&$%&$:,3$(.)'7&$+&)#'&7'/'3*,:'+)&*1 3'%%&*1)'+&)#'&)-2+>;&"#'&:*%)&1-'A2'+)
%$7'=& (6(3*%,*-$+'=& $+)-./'+*2%& $::28 #'-'7$).-6&'*%$+*,#$3$(&('3323$)$%;IL %6%)':$(& (*:,3.$+)& $+& ,.)$'+)%& 0$)#
+*53*423$+=& .3':)292:.4=& .+7& ,%*-.8 m'33%&%6+7-*:'&$%&:.3.$%'Z&1'/'-&*((2-%
3'+& ,32%& 23)-./$*3')& O& ,#*)*)#'-.,6;!P $+& .& :$+*-$)6& *1& (.%'%;& \'%$*+%& -'%*3/'
3<B9BC=<+#B9>B9EA+=9>+3;HKA7
aH)-.(*-,*-'.3& ,#*)*,#'-'%$%& .3*+'& *- 0$)#*2)& %(.--$+5=& 2%2.336& 0$)#$+& 0''>%
$+& (*:4$+.)$*+& 0$)#& [EU8 & *-& *)#'- D2).+'*2%& '7':.& 0.%& )#'& (*::*+ )*&:*+)#%=&42)&:23)$,3'&-'(2--'+('%&.-'
)#'-.,$'%=& .%& 0'33& .%& 4*+'& :.--*0& .+7 (3$+$(.3& )#-'.7& $+& )#'& @-%)& 1*2-& (.%'%& -'8 (*::*+;
MLE
7%&!*+6% !"#$%$&#'(!)*&#),)&AJ%'%"+,
B!O+(+!(^./!O+(N.O%OW%29.Y+*0.8%29+9*%-*. E+,"%+.&/+.&@'.("'@&("*)'*)
%,9+-,80+(+!.,/.'-`-,Y-.4!'9%
599,4+!*%3.Y+*0^."0'2&GH*2!'99_.+-/(!OO!*,2N.
W,Y%(.3+9%!9%_.9!24,+3,9+9_.FCV_.!-3.,*0%2.3+9%!9%9
!.)'%&*R)@"/"@&("*)'*)
IR"*+("@P&@9@0"@'0&',#"+)()A'
',(&)+*",+R$"0"'
3+AR0)XP&+.#',&(9*/J,@%"+,&GJ%&,+%&
<-3%/+-%3 A9)0+R.+0"/).'%"C)&+.&09AR$+@9%"@&C'."',%
[),"#,P&,+&+.#',&",C+0C)A),%
=NO80,4N*+4.F:H HN9*%O+4
"(,-!(.@.4%((9 &('4,4,2*+4,+39
I%"+0+#9&J,B,+1,P&@0+,'0&)*+",+R$"0*&+.&
F&+.&A+.)&+/Q&(9*R0'*%"@&)+*",+R$"0*P&$"#$&
*).JA&[5>P&$"#$&*).JA&%.9R%'*)P&',)A"'P&
%$.+AG+@9%+R),"'P&$)R'%+*R0),+A)#'09P
A'..+1&$9R).@)00J0'."%9P&*R",(0)?*$'R)(&
JN%(,82,(+/%2!*+6%.F:H A'*%&@)00*P&',(V+.&A9)0+/"G.+*"*
3$.+,"@&)+*",+R$"0"@&0)JB)A"'
39%+#),"@&'G,+.A'0"%")*&',(V+.&G0'*%*
1,9+*+6%
JN%(,82,(+/%2!*+6%.F:H LA'%","G&'0+,)&7(+*)&*J//"@"),%&%+&).'("@'%)&!"#$%$&#'(!)*<
Y+*0 +1?@A@B?CD+-> +.&1"%$�J@+@+.%"@+"(*&"/&@'.("'@&",C+0C)A),%
Z%$).&%9.+*",)&B",'*)&",$"G"%+.*P&
,)1&'#),%*&",&()C)0+RA),%
L,%)./).+,? 3+,*"().&%."'0&+/&"A'%","G&%$).'R9&7JR&%+&6_`&+/&
.)*R+,*"C)&R'%"),%*&(+&,+%&$'C)&!"#$%$&#'(!)*&AJ%'%"+,<
Z,)&+.&@+AG",'%"+,*&+/&%$)&/+00+1",#&'#),%*Q
T&$9(.+X9J.)' T&@9@0+R$+*R$'A"() T&",%.'C),+J*&"AAJ,+#0+GJ0",
T&)X%.'@+.R+.)'0&R$+%+R$).)*"* T&=?%$"+#J',",) T&'0)A%JSJA'G
T&N^MD T&>?@$0+.+()+X9(),+*",)&',(&@9%'.'G",) T&L:?6&A+,+@0+,'0&',%"G+(9
T&('R*+,) T&RJ0*)(&@$0+.'AGJ@"0 &&&7@J..),%09&+,09&",&@0","@'0&%."'0*<
T&A)%$+%.)X'%) T&)%+R+*"() T&G+,)&A'..+1&%.',*R0',%'%"+,
T&C",@."*%",)&*J0/'%) T&@9@0+*R+.",) &&&7+,09&'/%).&/'"0J.)&+/&'G+C)<
BC;<$:.MTG! 2FG7K7;AB9;GMB<BC+AF9>K;@7A+^2.-_h+C<=AABWC=6B;9+=9>+6K7=6@796:+HA=2D2@=7IHB:+v+#BGQR<BD7+Q[G<=67<76R>7KB87>+EK;L6M+N=C6;K+K7C7G6;KR f
2!c+v+MH@=9+B@@H9;>7WCB79CF+8BKHAf+!$RT+v+B967K<7HDB9+Tf+10c%+v+GA;K=<79+G<HA+H<6K=8B;<76+%+GM;6;6M7K=GF:+^&;>BW7>+NK;@+i<B;9+%,+76+=<h+%GGK;=CM7A+6;+6M7
6K7=6@796+;N+MFG7K7;AB9;GMB<BC+AF9>K;@7Ah+%+L;KDAM;G+AH@@=KF+K7G;K6:+9*:""#5?(*6"/0*A88$0&"*LL"hQU\UO+U55af+=9>+-676A;9+3$O+$7BN7K@=9+i&h+.;AB9;GMB<BC
>7K@=6;A7AO+B9+7#58+)&"&?(O+U9>+7>O+7>B67>+JF+/;<;E9B=+?$O+?;KBZZ;+?$O+)=GB9B+)):+.<A78B7KO+B9+GK7AAO+#BE:+USRU:_ MLL
7$%'.%'%& B%''& ".43'& P!8PF=KL=KK=IN=IT=TN& $+7$8
!"#$%&'/)'
(.)'&)#.)&)#'&?.:'&@52-'&$%&(#.-.()'-$%)$(
3+%0.).+%2&822+A.$)(0&C.)-&N(//2&
1*-=& 42)& +*)& 7$.5+*%)$(& *1=& m'33%& %6+8
=D%0*+#(&$%0O+*&B/$#(&B.J"*(2
7-*:';IM& m#'+& 'H.:$+'7& 1*-& '*%$+*,#$3
Y %K6MK;G;>+JB67A 5-.+23'&:._*-&4.%$(&,-*)'$+& 46&$::2+*8
Y %AC=KB=ABA ?2*-'%('+('=& ?.:'& @52-'%& %#*0& 4-$5#)
Y 3MHKER-6K=HAA+AF9>K;@7 'H)-.('3323.-& %).$+$+5& BE$5;& P!8!F=& $+7$(.)8
Y 3;<;9BC+=>79;C=KCB9;@= $+5& )#.)& 'H)'+%$/'& '*%$+*,#$3& 7'5-.+23.8
Y ,796=<+=JAC7AA )$*+&#.%&*((2--'7;KT
Y ,7K@;EK=GMBA@
Y ,KHE+K7=C6B;9A
Y .CZ7@= ,BNN7K796B=<+,B=E9;ABA
BC;<$:.MTGS #=@B<B=<+ k7<<A+ AF9>K;@7:
Y .;AB9;GMB<BC+GHA6H<=K+N;<<BCH<B6BA
1<=VH7A+LB6M+7KF6M7@=O+7>7@=O+87ABC<7AO+=9>+JH<<=7 l-)$(.-$.=& '-6%$,'3.%=& .+7& .(2)'& ('3323$)$%
Y 27KG7A+E7A6=6B;9BA %#*237& 4'& (*+%$7'-'7& $+& )#'& 7$11'-'+)$.3
K7A7@J<B9E+ =CH67+ >7K@=6B6BA+ ;K+ G7@GMBE;B>:+ ^#K;@
Y 27KG7A+AB@G<7P+B9N7C6B;9 7$.5+*%$%& *1& )#'& '.-36& %).5'%& *1& m'33%
Y 2FG7K7;AB9;GMB<BC+AF9>K;@7A ,=8BA+&,+76+=<h+#=@B<B=<+7;AB9;GMB<BC+C7<<H<B6BAO+>FAR
@;KGMBC+M=JB6HAO+=9>+@796=<+K76=K>=6B;9:+9*:8*:'+, %6+7-*:'&B%''&E$5;&P!8POF;&\.)'-=&,3.A2'%
Y !@@H9;JH<<;HA+>BA7=A7A :.6&-'%':43'& :*-,#'.&B%''& E$5;& P!8PWF;
Y &=A6;CF6;@= 7#58+)&" MDh\Q\O+Q\\gO+LB6M+G7K@BAAB;9:_
"#'& ,-'%'+('& *1& 43$%)'-%& :.6& %255'%)
Y &F7<;GK;<BN7K=6B87+>BA7=A7 ,':,#$5*$7&B%''&E$5;&P!8SF;&E3.:'&@52-'%
Y (9CM;C7KCB=ABA '*%$+*,#$3%=&#$%)$*(6)'%=&.+7&1*($&*1&.:*-8
,#*2%&.+7R*-&5-.+23.-&:.)'-$.3&.%%*($.)'7 .-'&)#'&#.33:.->&*1&m'33%&%6+7-*:'=&42)
Y c=CCB9=6B;9+C;96=B9B9E+6MB@7K;A=< 4'(.2%'& )#'6& #./'&4''+&$7'+)$@'7& $+&4$8
0$)#& (*++'()$/'& )$%%2'& @4'-%=& 0#$(#
Y 'B97= *,%6& %,'($:'+%& 1-*:& *)#'-& 7'-:.)*%'%=
m'33%& )'-:'7& S&$#1 3E/(#-;!I& [+& )#'& '.-36
Y ';P;C=KB=ABA )#'6&.-'&+*)&.3*+'&%21@($'+)&1*-&)#'&7$.58
%).5'%=&)#'-'&.3%*&$%&7'-:.3&'7':.;&\.)'-=
Y 0K6BC=KB= +*%$%;&^*0'/'-=&.&7$.5+*%$%&*1&m'33%&%6+8
#$%)$*(6)'%&,.3$%.7'&.-*2+7&?.:'&@52-'%;
[+&.77$)$*+&)*&'$5#)&,.)$'+)%&0$)#&)#'&%6+8 7-*:'& $+& )#'& .4%'+('& *1& ?.:'& @52-'%
7-*:'=& )#'& MQIQ& -',*-)& *1& m'33%& .+7 %#*237& 4'& :')& 0$)#& %>',)$($%:=& '/'+& $+
$=J;K=6;KF+'7A6A+=9>+2BA6;G=6M;<;EF )#'& ,-'%'+('& *1& 7'-:.3& $+@3)-.)$*+& 0$)#
<:$)#& $+(327'%& +$+'& ,.)$'+)%& 0$)#& )#'
V'-$,#'-.3&43**7&'*%$+*,#$3$.&$%&*4%'-/'7 )6,$(.3&#$%)*3*5$(&1'.)2-'%&*1&'*%$+*,#$3$( '*%$+*,#$3%&.+7&#$%)$*(6)'%;IM
$+&.,,-*H$:.)'36&!L&,'-('+)&*1&,.)$'+)%;II ('3323$)$%&42)&$+&.%%*($.)$*+&0$)#&.&/.-$')6
<>$+& 3'%$*+%& .-'& (#.-.()'-$9'7& #$%)*3*5$8 *1& (3$+$(.3& 7$.5+*%'%=& $+(327$+5& ,':,#$8 'K7=6@796
(.336& 46& 7$112%'& 7'-:.3& $+@3)-.)$*+& 0$)# 5*$7=&'(9':.=&.+7&)$+'.;KL&"#$%&.+7&%248
%'A2'+)&-',*-)%&*1&?.:'&@52-'%&$+&3'%$*+% m'33%& %6+7-*:'& 2%2.336& $:,-*/'%& 7-.8
1-*:& ,.)$'+)%& 0$)#& .& 0$7'& %,'()-2:& *1 :.)$(.336& .1)'-& .7:$+$%)-.)$*+& *1& %6%8
BC;<$:.MTGT #<=@7+WER
HK7+ B9+ N=@B<B=<+ k7<<A+ AF9R
>K;@7:+ 5[+ 27@=6;PF<B9+ =9>
7;AB9eA6=B97>+A7C6B;9:+\[+.;R
AB9;GMB<+ EK=9H<7+ @=X;K+ J=ABC
GK;67B9+ B@@H9;A6=B9+ ^;N+ A7R
KB=<+ A7C6B;9+ 6;+ 5_+ AM;LA+ 7PR
\
679AB87+EK=9H<7+GK;67B9+>7G;R
BC;<$:.MTGM k7<<A+ AF9>K;@7:+ 5[+ .=K<F+ <7R AB6B;9+ <;C=<BZ7>+ 6;+ 6M7+ `=@7
AB;9+LB6M+7KF6M7@=+=9>+7>7@=:+\[+$=67+<7AB;9+K7R WEHK7:+ ^(KBEB9=<+ @=E9BWC=R
A7@J<B9E+@;KGM7=: \ 6B;9 "]55:_
ML!
0#$(#&%255'%)%&)#.)&%'H&#*-:*+'%&:.6
%"I!($*&12(!, )':$(& 532(*(*-)$(*$7%=& .+7& ).,'-$+5& *1
%)'-*$7&7*%'&*/'-&M&:*+)#&$%&0'33&)*3'-8 4'&.&1.()*-&$+&$)%&7'/'3*,:'+);TT
.)'7&$+&:*%)&,.)$'+)%;&Y'(2--'+('%&:.6
2*1.)1$%-!% 4'& )-'.)'7& 0$)#& .77$)$*+.3& (*2-%'%& *1
%6%)':$(& 532(*(*-)$(*$7%;& E*-& ,.)$'+)%
3<B9BC=<+#B9>B9EA+=9>+3;HKA7
k!'2 0#*&1.$3&)*&-'%,*+7=&*-&0#*&'H,'-$'+('
-'3.,%'& *1)'+& '+*25#& )*& -.$%'& (*+('-+%
O\^a&%#*0%&.&,-'7$3'()$*+&1*-&)#'&#'.7
.+7& +'(>& .-'.& .+7& $%& (#.-.()'-$9'7& 46
.(-!"(12!$!% .4*2)&)#'&3*+58)'-:&%$7'& '11'()%& *1& %6%8
)':$(& 532(*(*-)$(*$7& )#'-.,6=& *)#'-& *,8
%*3$).-6=& 1'0=& *-& :23)$,3'=& %*:')$:'%
5-*2,'7=& '-6)#':.)*2%=& /$*3.('*2%& *-
%'+%+I$%"3.+ :'+)&*1&:$37&7$%'.%'=&)*,$(.3&532(*(*-)$8
(*$7%&:.6&4'&%21@($'+);
,-2-$)2%& *-& ,.$+=& *-& :.6& ,23%.)';& O38
)#*25#&)#'6&.-'&(*+@+'7&)*&)#'&%>$+&$+
:*%)& ,.)$'+)%=& :2(*%.3& $+/*3/':'+)
:.6& *((2-;& O\^a& )'+7%& )*& 4'& (#-*+$(
%"I!($*&12(!,+2*1.)1$%-!%+ .+7&+*+-':$))$+5&*/'-&:*+)#%&)*&6'.-%;
k!'2+.(-!"(12!$!%
2BA6;KF $=J;K=6;KF+'7A6A+=9>+2BA6;G=6M;<;EF
O,,-*H$:.)'36& NL& ,'-('+)& *1& ,.)$'+)%
iB@HK=+>BA7=A7+^i,_+;CCHKA+@=B9<F+B9+ .GB>7@B;<;EF #./'& ,'-$,#'-.3& 43**7& '*%$+*,#$3$.=& 42)
%AB=9+@=<7Af+=9EB;<F@GM;B>+MFG7KG<=AB=+ [5a&3'/'3%&.-'&2+-':.->.43';&"#'-'&$%&+*
O+5$*36:,#*$7& #6,'-,3.%$.& 0$)#& '*8 .%%*($.)$*+& 0$)#& -'+.3& 7$%'.%';& "#'
LB6M+7;AB9;GMB<B=+^%$2._+;CCHKA+B9+=<<+
%$+*,#$3$.&BO\^aF&*((2-%&$+&4*)#&:.3'% 7*:$+.+)& #$%)*3*5$(& 1'.)2-'& $%& .& 0'338
K=C7A+LB6M+=+N7@=<7+GK7>;@B9=9C7:
.+7&1':.3'%=&42)&)#'&3$)'-.)2-'&$+7$(.)'% 7'@+'7&.-'.=&$+&)#'&7'-:$%&.+7R*-&%24(28
i,+BA+N;H9>+B9+=+A;@7LM=6+F;H9E7K+=E7+ .& %3$5#)& 1':.3'& ,-'7*:$+.+(';& V.)$'+)% )$%=& *1& ,-*:$+'+)& /.%(23.-& ,-*3$1'-.)$*+
EK;HG+6M=9+%$2.: .-'&5'+'-.336&$+&)#'&)#$-7&)*&@1)#&7'(.7' 0$)#&3.-5'&',$)#'3$*$7&*-&#$%)$*(6)*$7&'+8
3M=K=C67KBZ7>+JF+K7CHKK796+>7K@=<+=9>[;K+ *1& 3$1';& [+& (*+)-.%)& )*& p$:2-.& 7$%'.%' 7*)#'3$.3& ('33%& )#.)& (*+).$+& .42+7.+)
AHJCH6=97;HA+<7AB;9AO+GKB@=KB<F+;N+6M7+ BpJF=& 0#$(#& 7'/'3*,%& :.$+36& $+& ,.8 '*%$+*,#$3$(& (6)*,3.%:=& *1)'+& 0$)#& (68
M7=>+=9>+97CD+=K7=: )$'+)%& 1-*:& O%$.=& O\^a& #.%& +*& -.($.3 )*,3.%:$(& /.(2*3'%& B%''& E$5;& MSI8MM& $+
%$2.+<7AB;9A+679>+6;+J7+A@=<<7KO+@;K7+ ,-'7$3'()$*+& .+7& $%& )6,$(.336& %''+& $+ D#.,;&MSIF;&"#'-'&.-'&/.-$.43'&+2:4'-%
AHG7KWCB=<O+=9>+@;K7+9H@7K;HA+6M=9+ m'%)'-+'-%; *1&'*%$+*,#$3%&.+7&36:,#*(6)'%=TQ&0$)#
6M;A7+;N+i,: .+&*((.%$*+.3&@+7$+5&*1&36:,#*$7&+*78
i,+679>A+6;+B98;<87+AHJCH6=97;HA+6BAR .6B;<;EF 23'%;&[+&)#'$-&-',*-)&*1&MMK&,.)$'+)%&0$)#
AH7AO+K7EB;9=<+<F@GM+9;>7AO+=9>+A=<BR O\^a=& o3%'+& .+7& ^'30$5& 1*2+7& !P
8=KF+E<=9>A: "#'&,.)#*5'+'%$%&*1&O\^a&$%&2+>+*0+= (.%'%&$+&0#$(#&b.+&.-)'-$.3&%)-2()2-'c&.,8
42)&$)&$%&(*+%$7'-'7&)*&4'&.&-'.()$/'&,#'8 ,'.-'7&)*&4'&.%%*($.)'7&0$)#&/'+23'%&*-
%$2.+@=F+J7+G=B9NH<O+GKHKB6BCO+;K+GH<A=R +*:'+*+=& ,*%%$436& .-$%$+5& $+& -'%,*+%' b0.%& )#'& .-'.& *1& '+7*)#'3$.3& ,-*3$1'-.8
6B<7O+LM7K7=A+i,+BA+E797K=<<F+=AF@G6;R )*& *-& $+& .%%*($.)$*+& 0$)#& .+& 2+7'-36$+5 )$*+=c& 0#$(#& ,-*/$7'7& '/$7'+('& )#.)
@=6BC: /.%(23.-& :.31*-:.)$*+;& "#'-'& $%& .& #$%8 )#'%'&3'%$*+%&-',-'%'+)&.&1*-:&*1&.-)'-$*8
17KBGM7K=<+J<;;>+7;AB9;GMB<B=+BA+A779+B9+ )*-6&*1&)-.2:.&$+&%*:'&(.%'%;&O\^a&#.% /'+*2%&%#2+);TI&"#'&%)-*:.&)6,$(.336&$%
J;6M+>BA7=A7A: 4''+& -',*-)'7& )*& *((2-& $+& ,-'5+.+(6= :6H*$7=& .+7& @4-*%$%& $%& :$+$:.3& *-& .48
!9CK7=A7>+B@@H9;E<;JH<B9+.+<787<A+=K7+
N;H9>+;9<F+B9+i,:
)79=<+>BA7=A7+BA+=AA;CB=67>+;9<F+LB6M+i,+
^K7G;K67>+B9CB>79C7+;N+Q5+G7KC796++6;+U5+
G7KC796_:
2BA6;G=6M;<;EBC+N7=6HK7Ah
,;@B9=96+N7=6HK7+;N+i,+BA+<F@GM;B>+
GK;<BN7K=6B;9O+;N679+LB6M+E7K@B9=<+C79R
67KAO+LM7K7=A+%$2.+BA+CM=K=C67KBZ7>+JF+
8=ACH<=K+GK;<BN7K=6B;9+LB6M+9H@7K;HA+
<=KE7+7GB6M7<B;B>+;K+MBA6B;CF6;B>+79>;R
6M7<B=<+C7<<A:
#BJK;ABA+BA+CM=K=C67KBA6BC+;N+i,+=9>+BA+
<B@B67>+;K+=JA796+B9+%$2.:
!9C;9AGBCH;HA+6;+9H@7K;HA+7;AB9;R 5 \
GMB<A+B9+%$2.:
.;AB9;GMB<+=JAC7AA7A+@=F+;CCHK+B9+i,: BC;<$:.MTGU %9EB;<F@GM;B>+ MFG7KG<=AB=+ LB6M+ 7;AB9;GMB<B=:+5[+ #;K7M7=>+ 9;>H<7:+\[+ )7CHKK79C7+ ;N
<7AB;9A+B9+ADB9+EK=N6+=9>+=>X=C796+AB67A+a+F7=KA+=N67K+AHKEBC=<+K7@;8=<+;N+<7AB;9+B9+5:
MLM
%'+);&G.%)&('33%&:.6&4'&.&(*:,*+'+)&*1 !"#$%&'/).
)#'&#$%)*3*5$(&,$()2-';
3+#,$*.2+%&+K&8%J.+/D#,-+.0&!D,(*,/$2.$&C.)-&1+2.%+,-./.$&E8<!1G&$%0&P.#"*$&?.2($2(&EP?G
8<!1 P?
,BNN7K796B=<+,B=E9;ABA
I79>7K 'FGBC=<<F+@B>><7R=E7>+N7@=<7A 1K7>;@B9=96<F+F;H9E+=>H<6+@=<7A
\'%$*+%& *1& O\^a& 5'+'-.336& .-'& %:.33'-=
-F@G6;@A 1KHKB6HAO+G=B9O+GH<A=6B;9 %AF@G6;@=6BC
:*-'&%2,'-@($.3=&.+7&:*-'&+2:'-*2%&)#.+
)#*%'&*1&pJ=&.+7&*1)'+&.-'&%6:,)*:.)$(; $7AB;9+6FG7+=9>+<;C=6B;9 -@=<<+=9>+AHG7KWCB=<O+LB6M+;87K<FR $=KE7O+@=B9<F+AHJCH6=97;HAf+
O3)#*25#&36:,#*$7&1*33$(3'%&:.6&*((2-&$+ B9E+7KF6M7@=f+M7=>+=9>+97CD+ ;87K<FB9E+ADB9+9;K@=<f+M7=>+=9>+
O\^a=&)#'6&-',-'%'+)&)#'&7*:$+.+)&(#.-8 K7EB;9 97CD+K7EB;9f+@=F+B98;<87+K7EB;9=<+
.()'-$%)$(&*1&pJ&B".43'&P!8SF;&O3)#*25#&pJ <F@GM+9;>7A+=9>+A=<B8=KF+E<=9>A
:.6&'H#$4$)&%*:'&/.%(23.-$)6=&$)&3.(>%&)#' $F@GM;B>+N;<<BC<7A 09C;@@;9 1K;@B9796+<F@GM;B>+N;<<BC<7A+LB6M+
3.-5'&',$)#'3$*$7&'+7*)#'3$.3&('33%&)#.)&.-'&. E7K@B9=<+C7967KA
>'6& 1'.)2-'& *1& O\^a& B%''& ".43'& P!8SF;
O\^a&%#*237&4'&7$%)$+52$%#'7&1-*:&.&/.-$8 c=ACH<=K+GK;<BN7K=6B;9 1K;@B9796+8=ACH<=K+GK;<BN7K=R -;@7+A6K;@=<+8=ACH<=KB6F+LB6M+
')6&*1&4'+$5+&.+7&:.3$5+.+)&/.%(23.-&,-*8 6B;9+LB6M+<=KE7+7GB6M7<B;B>[MBA6B;R H9K7@=KD=J<7+79>;6M7<B=<+C7<<A
3$1'-.)$*+%=&$+(327$+5&,6*5'+$(&5-.+23*:.= CF6;B>+79>;6M7<B=<+C7<<Af+
',$)#'3$*$7& #':.+5$*'+7*)#'3$*:.=& .+7 78B>79C7+;N+H9>7K<FB9E+8=ACH<=K+
p.,*%$& %.-(*:.r.33& *1& 0#$(#& 3.(>& .& +*8 @=<N;K@=6B;9+@=F+J7+78B>796
)$('.43'&'*%$+*,#$3&$+@3)-.)'; #BJK;ABA %JA796+;K+<B@B67> 1K;@B9796
-7KH@+B@@H9;E<;JH<B9+.+ ";K@=< !9CK7=A7>
'K7=6@796 <787<
[+)'-/'+)$*+& $%& 7$().)'7& $+& ,.-)& 46& )#' "7GMK;G=6MF %JA796 1K7A796+B9+HG+6;+U5s+;N+G=6B796A
+2:4'-=&3*(.)$*+=&.+7&%$9'&*1&3'%$*+%;&V.8
)$'+)%&0$)#&%*3$).-6&*-&.&1'0&%:.33&3'%$*+%
:.6& 4'+'@)& 1-*:& 'H($%$*+& *-& G*#%& %2-8 3.-5$+5& %24(2).+'*2%& +*723'%;& \'%$*+% '+)$)$'%&*-&.-'&,.-)&*1&.&%$+53'&7$%'.%'&%,'(8
5'-6;QL& "#'-'& :.6& 4'& -'(2--'+('& .)& )#' (#.-.()'-$%)$(.336& $+/*3/'& )#'& #'.7& .+7 )-2:=& .& (*+12%$*+& )#.)& :.6& 4'& 12-)#'-'7
%2-5$(.3& %$)'& B%''& E$5;& P!8KF;& O& /.-$')6& *1 +'(>&-'5$*+&42)&:.6&4'&3*(.3$9'7&)*&)#' 46&.&-',*-)&*1&pJ&.+7&O\^a&*((2--$+5&$+
*)#'-& )-'.):'+)& :*7.3$)$'%& #./'& 4''+ 'H)-':$)$'%=&.H$33.=&5-*$+=&*-&)-2+>;&"#'-' )#'& %.:'& ,.)$'+);MLM& W*)#& O\^a& .+7& pJ
2%'7&0$)#&%2(('%%=&$+(327$+5&%6%)':$(&.+7 *1)'+& $%& .%%*($.)'7& -'5$*+.3& 36:,#.7'8 .-'&(#.-.()'-$9'7&46&,'-%$%)'+)&.+7&-'(2-8
$+)-.3'%$*+.3& %)'-*$7& .7:$+$%)-.)$*+=& [EU +*,.)#6& .+7& %*:')$:'%& :*-'& 0$7'8 -'+)&3'%$*+%=&,-$:.-$36&$+/*3/$+5&)#'&#'.7
)#'-.,6=QM& (-6*)#'-.,6=QN& 3.%'-& )#'-.,6=QP %,-'.7& 36:,#& +*7'& '+3.-5':'+);QKXQT .+7& +'(>& .-'.%;& ^*0'/'-=& )#'-'& .-'& 7$%8
.+7&)*,$(.3&.,,3$(.)$*+&*1&).(-*3$:2%;QS "#'&*/'-36$+5&%>$+&.,,'.-%&+*-:.3;&pJ )$+()&(3$+$(.3&.+7&#$%)*3*5$(&7$11'-'+('%&4'8
$%&)6,$(.336&(#-*+$(&.+7&-'(2--'+); )0''+&)#'&)0*&7$%*-7'-%&B%''&".43'&P!8SF=
,.-)$(23.-36& )#'& 36:,#*$7& 1*33$(3'%& 0$)#
i!&0)%+,!-.%-. 5'-:$+.3& ('+)'-%& )#.)& 7*:$+.)'& pJ& $+
$=J;K=6;KF+'7A6A+=9>+2BA6;G=6M;<;EF (*+)-.%)&)*&)#'&/.%(23.-&,-*3$1'-.)$*+&0$)#
2BA6;KF V'-$,#'-.3& 43**7& '*%$+*,#$3& (*2+)%& .+7 3.-5'& ',$)#'3$*$7& '+7*)#'3$.3& ('33%& )#.)
%'-2:& [5a& 3'/'3%& .-'& '3'/.)'7& $+& :*%) (#.-.()'-$9'%& O\^a;& \'%$*+.3& )$%%2'& .+7
,.)$'+)%;& a/.32.)$*+&*1& -'+.3& 12+()$*+&$% ,'-$,#'-.3& 43**7& '*%$+*,#$3$.& .-'& :*-'
.GB>7@B;<;EF ,-*+*2+('7&$+&pJ;
$+7$(.)'7=& 4'(.2%'& pJ& $%& .%%*($.)'7
pJ& *((2-%& ,-'7*:$+.+)36& $+& 6*2+5 0$)#& 53*:'-23*+',#-$)$%& .+7& +',#-*)$(
.723)& O%$.+& :.3'%;& [)& .3%*& #.%& 4''+& -'8 %6+7-*:';QQ=MLL& ^$%)*3*5$(.336=& 3'%$*+% 'K7=6@796
,*-)'7&$+&(#$37-'+; .-'& (#.-.()'-$9'7& 46& 36:,#*$7& .55-'8
5.)'%=& 2%2.336& $+& )#'& 1*-:& *1& 36:,#*$7 <2-5$(.3& 'H($%$*+& $%& )#'& )-'.):'+)& *1
1*33$(3'%& 0$)#& 5'-:$+.3& ('+)'-%=& +2:'-8 (#*$('& 0#'+& 1'.%$43'& $+& ,.)$'+)%& 0$)#& .
.6B;<;EF %$+53'&*-&.&3$:$)'7&+2:4'-&*1&+*723'%=&42)
*2%& '*%$+*,#$3%& B%''& 'E$5;& P!8K;M& $+& *+8
pJ& $%& .+& $7$*,.)#$(& $+?.::.)*-6& 7$%*-8 3$+'&'7$)$*+F=&.+7&@4-*%$%;&o)#'-&1'.)2-'% 3'%$*+%& :.6& -'(2-;MLN& o)#'-& )#'-.,'2)$(
7'-;&"#'&(*:4$+.)$*+&*1&,'-$,#'-.3&43**7 :.6& $+(327'& '*%$+*,#$3& .4%('%%'%& .+7 *,)$*+%& $+(327'& %6%)':$(& 532(*(*-)$(*$7%=
'*%$+*,#$3$.=& $+(-'.%'7& %'-2:& [5a& 3'/'3%= %)-*:.3&/.%(23.-$)6=&0$)#*2)&)#'&',$)#'8 -.7$.)$*+& )#'-.,6=& .+7& (6(3*%,*-$+';MLP
.+7& #$%)*3*5$(& ,.))'-+& *1& 36:,#*$7& +*78 3$*$7& *-& #$%)$*(6)*$7& '+7*)#'3$.3& ('33% "#'& ,-'%'+('& *1& -'+.3& 7$%'.%'& :.6& $+?28
23'%&0$)#&5'-:$+.3&('+)'-%&.+7&+2:'-*2% )#.)&.-'&)6,$(.3&*1&O\^a; '+('&*-&7$().)'&)#'&)#'-.,'2)$(&-'5$:'+;
'*%$+*,#$3%& %255'%)%& )#.)& pJ& -',-'%'+)%
.+& .33'-5$(& #6,'-%'+%$)$/$)6& -'.()$*+;& "#'
,BNN7K796B=<+,B=E9;ABA .(-!"(12!$!3
,.)#*5'+$(&%)$:232%&1*-&)#','-%'+%$)$/8
10-'0$%)+#($$!30$!'!-
$)6& -'%,*+%'& $%& 2+>+*0+;& O%%*($.)$*+ W'(.2%'&3'%$*+%&*1&pJ&.-'&2%2.336&%24(28
0$)#& 53*:'-23*+',#-$)$%& -.$%'%& )#'& ,*%%$8 ).+'*2%=&0$)#&+*-:.38.,,'.-$+5&*/'-36$+5 2BA6;KF
4$3$)6&)#.)&pJ&#.%&.+&.2)*$::2+'&4.%$%; %>$+& .+7& .-'& .%%*($.)'7& 0$)#& 36:,#.7'8
+*,.)#6=& )#'& ,*%%$4$3$)6& *1& 36:,#*:.& *-
.GB>7@B;<;EF
:').%).)$(& (.-($+*:.& %#*237& 4'& (*+%$78
3<B9BC=<+#B9>B9EA+=9>+3;HKA7
'-'7& $+& )#'& (3$+$(.3& 7$11'-'+)$.3& 7$.5+*%$%; V-'7*:$+.+)36&.&7$%'.%'&*1&:.3'%=&'*%$+8
V.)$'+)%& )6,$(.336& #./'& *+'& *-& .& 1'0 ^$%)*-$(.336=&)#'-'& #.%& 4''+& 7'4.)'& .4*2) *,#$3$(& ,2%)23.-& 1*33$(23$)$%& BaVEF& $%& +*0
MLS .%6:,)*:.)$(=& +*+8)'+7'-=& %3*036& '+8 0#')#'-&O\^a&.+7&pJ&-',-'%'+)&%',.-.)' (*+%$7'-'7& )*& '+(*:,.%%& )#-''& (3$+$(.3
:$.=&*-&,*36(6)#':$.&/'-.;&J-258$+72('7 *+83$+'&'7$)$*+F=&%*:')$:'%&0$)#&1*33$(28
.(-!"(12!$!3 aVEMMNXMMS& .+7& aVE& .%%*($.)'7& 0$)#& :68 3.-& 7.:.5';& "#'& $+@3)-.)'%& .3%*& :.6
'3*76%,3.%)$(& %6+7-*:'MM!& .3%*& #./' (*+).$+& 36:,#*(6)'%& .+7& +'2)-*,#$3%=
10-'0$%) 4''+&7'%(-$4'7; .+7& :.6& 4'& ,'-$/.%(23.-& .%& 0'33& .%& 1*38
3$(23.-;& E*33$(23.-& :2($+*%$%& B%''& D#.,;
#($$!30$!'!- .6B;<;EF
MSKF& #.%& 4''+& +*)'7& $+& .%%*($.)$*+
0$)#&aVE;
%'+%+I$%"3.+ O3)#*25#&.&/.-$')6&*1&)#'*-$'%&(*+('-+8
$+5& )#'& ,.)#*5'+'%$%& *1& aVE& #./'& 4''+ ,BNN7K796B=<+,B=E9;ABA
,-*,*%'7=&)#'&')$*3*56&$%&2+>+*0+;&[:8
:2+'& 76%12+()$*+& .+7& .33'-5$(& #6,'-8 E*33$(23$)$%&%'(*+7.-6&)*&4.()'-$.3&*-&12+8
%'+%$)$/$)6&.-'&(*+%$7'-'7&)*&,3.6&.&-*3'; 5.3&$+1'()$*+&:2%)&4'&>',)&$+&:$+7=&,.-8
)$(23.-36& $+& $::2+*%2,,-'%%'7& ,.8
)$'+)%;& W'(.2%'& *1& )#'& 7$%)-$42)$*+& *1
3<B9BC=<+#B9>B9EA+=9>+3;HKA7 3'%$*+%=&%'4*--#'$(&7'-:.)$)$%&%#*237&4'
D3.%%$(& aVE& ,-'%'+)%& .%& -'(2--'+)& (-*,% (*+%$7'-'7=& .%& %#*237& 32,2%& '-6)#':.8
'MK77+C<B9BC=<+6FG7AO+CM=K=C67KBZ7>+JF+N;<R
*-&(32%)'-%&*1&1*33$(23.-&,.,23'%&.+7&,2%8 )*%2%=& ,.-)$(23.-36& 0#'+& 3'%$*+%& .-'
<BCH<=K+G=GH<7A+=9>+GHA6H<7A+6M=6+@=F+
)23'%=& 0#$(#& :.6& 1*-:& .+& .++23.-& ,.)8 :*-'& :.(23*,.,23.-& )#.+& ,2%)23.-;& O(8
B98;<87+6M7+M7=>O+6KH9DO+=9>+7P6K7@B6B7A
)'-+&.+7&2%2.336&-'%*3/'&$+&I&)*&ML&7.6%; +'$1*-:& '-2,)$*+%& :.6& -'%':43'& aVE;
3<=AABC+7;AB9;GMB<BC+GHA6H<=K+N;<<BCH<B6BA+ a-6)#':.& )*H$(2:& +'*+.)*-2:=& .(-*8
\'%$*+%& ,-'7*:$+.+)36& $+/*3/'& )#'& 1.('
^(NHXB+>BA7=A7_ ,2%)23*%$%=& .+7& .(+'& +'*+.)*-2:& .3%*
.+7& )-2+>& 42)& .3%*& :.6& .11'()& )#'& 'H8
'FGBC=<<F+;CCHKA+B9+?=G=97A7+ )-':$)$'%=& 0$)#& $+/*3/':'+)& *1& )#' %#*237&4'&(*+%$7'-'7&$+&$+1.+)%;
G=6B796AO+LM;+M=87+CMK;9BCO+K7CHKR ,.3:%& .+7& %*3'%& $+& .,,-*H$:.)'36& NL
K796+N;<<BCH<=K+GHA6H<7AO+LB6M+=+679R ,'-('+)& *1& ,.)$'+)%;MLQ& [+& (*+)-.%)=& ^[f8
>79CF+6;+N;K@+CBKCB9=67+G<=VH7AO+B9+ 'K7=6@796
.%%*($.)'7& aVE& )'+7%& )*& :.+$1'%)& .%& 'H8
=+A7J;KKM7BC+>BA6KBJH6B;9 )-':'36& ,-2-$)$(& 7$%(-')'& 1*33$(23.-& ,.,8 "*,$(.3& 532(*(*-)$(*$7%& 5'+'-.336& .-'& )#'
.;AB9;GMB<BC+GHA6H<=K+N;<<BCH<B6BA+=AA;CBR 23'%=& )6,$(.336& $+/*3/$+5& )#'& #'.7& .+7 @-%)& .,,-*.(#& )*& )#'& )-'.):'+)& *1& .33
=67>+LB6M+B@@H9;AHGGK7AAB;9 +'(>&.+7&*1)'+&)#'&,-*H$:.3&'H)-':$)$'% )6,'%& *1& aVE;& U*+%)'-*$7.3& .+)$8$+?.:8
&;A6+;N679+;CCHKA+B9+G=6B796A+LB6M+ B%'' E$5;&MQT8P=&D#.,;&MQTF;&Y*%'+)#.3&') :.)*-6&7-25%=&,.-)$(23.-36&$+7*:')#.($+=
MH@=9+B@@H9;>7WCB79CF+8BKHA+ .3;& ':,#.%$9'7& )#'& 2-)$(.-$.3& A2.3$)6& *1 .3%*& #./'& 4''+& %255'%)'7& .%& @-%)83$+'
B9N7C6B;9O+LM;+M=87+A787K7<F+GKHKB6BC+ %2(#&3'%$*+%;MML&[+&aVE&*1&$+1.+(6=&3'%$*+% )#'-.,6Z& (3$+$(.3& $:,-*/':'+)& :.6& 4'
G=GH<7A+;N+6M7+N=C7+=9>+HGG7K+6KH9D )6,$(.336& .-'& 3*(.)'7& *+& )#'& %(.3,& 42) *4%'-/'7& 0$)#$+& N& 0''>%& .+7& $%& .%%*($8
.3%*& :.6& 4'& 1*2+7& *+& )#'& 1.('& .+7& 'H8 .)'7&0$)#&.&7'(-'.%'&$+&,'-$,#'-.3&43**7
.;AB9;GMB<BC+GHA6H<=K+N;<<BCH<B6BA+;N+
)-':$)$'%;& [+& %*:'& +'*+.)'%& 0#*& #./' '*%$+*,#$3& (*2+)%;MMI& l3)-./$*3')& 3$5#)
B9N=9CF[97;9=6=<+G7KB;>
,2%)23.-&'-2,)$*+%&)#.)&(3$+$(.336&-'%':8 )#'-.,6&B23)-./$*3')&W&*-&,%*-.3'+&.+7&238
#;<<BCH<=K+GHA6H<7A+;N+6M7+AC=<G 43'& aVE& .+7& )6,$(.336& #./'& ,'-$,#'-.3 )-./$*3')& OF& :.6& 4'& 4'+'@($.3;& "*,$(.3
'79>79CF+N;K+K7CHKK79C7A+=9>+CMK;9BCB6F+ 43**7&'*%$+*,#$3$.=&)#'&7$%*-7'-&:.6&4' ).(-*3$:2%&$%&.&)-'.):'+)&*,)$*+=&,.-)$(28
^7PC7G6+7;AB9;GMB<BC+GHA6H<=K+N;<<BCH<B6BA+;N+ (3.%%$@'7& :*-'& .,,-*,-$.)'36& 2+7'-& )#' 3.-36& 1*-& 1.($.3& 3'%$*+%;MMT& "*,$(.3& ,'-8
B9N=9CF_ )'-: #%-)*%4").)!1 4/-'/.%-)-& 4'(.2%'& )#' :')#-$+=& %6%)':$(& -')$+*$7%=& %6%)':$(
3M=K=C67KBZ7>+JF+N;<<BCH<=K+=9>+G7KBN;<<BCHR (2).+'*2%& $+@3)-.)'%& .-'& +*)& 1*33$(23*8 532(*(*-)$(*$7%=& (6(3*%,*-$+'=& $)-.(*+.8
<=K+7;AB9;GMB<+B9W<6K=6B;9 ('+)-$(& B%''& D#.,;& MLKF;MMK& aVE& *1& $+8 9*3'=& :')-*+$7.9*3'=& (')$-$9$+'=& :$+*(68
1.+(6& #.%& .& 5**7& ,-*5+*%$%=& 0#'-'.% (3$+'=&7.,%*+'=&.+7&[EU%&#./'&4''+&)-$'7
%AA;CB=67>+LB6M+G7KBGM7K=<+J<;;>+7;AB9;R (3.%%$(&.+7&^[f8.%%*($.)'7&aVE&.-'&(#.-8 0$)#& %2(('%%;MMQ& O+)$-')-*/$-.3& )-'.):'+)
GMB<B= .()'-$9'7& 46& -'(2--'+('%;& V*%)8$+?.:8 )#.)& -'%23)%& $+& .+& $+(-'.%'& $+& DJS& ('33
:.)*-6&,$5:'+).)$*+&:.6&4'&%''+&.%&3'8 (*2+)%&*1)'+&$%&.%%*($.)'7&0$)#&$:,-*/'8
)6,'%;MLT& D3.%%$(& aVE& $%& +*)& -.($.336& -'8 %$*+%& -'%*3/'=& 42)& %(.--$+5& 7*'%& +*) :'+)&$+&^[f8.%%*($.)'7&aVE;
%)-$()'7& 42)& )6,$(.336& *((2-%& $+& e.,.+'%' *((2-;
.723)%&$+&)#'&)#$-7&.+7&1*2-)#&7'(.7'%&*1
3$1';MLQ& aVE& .%%*($.)'7& 0$)#& #2:.+& $:8 .(-!"(12!$!3+0$3.)+
$=J;K=6;KF+'7A6A+=9>+2BA6;G=6M;<;EF (#+'2.+()%$+&03(-%
:2+*7'@($'+(6& /$-2%& B^[fF& $+1'()$*+& $%
+*0& )#'& :*%)& (*::*+& )6,'& .+7& :.6 V.)$'+)%&%2%,'()'7&*1&#./$+5&aVE&%#*237 a*%$+*,#$3$(& 23('-& *1& )#'& )*+52'=& +*0
7'/'3*,& $+& )#'& %'))$+5& *1& .+)$-')-*/$-.3 4'&'/.32.)'7&1*-&2+7'-36$+5&$::2+'&7'8 -'1'--'7& )*& .%& #%-)*%4").)!1 /.!#(1 %I1 '"#1 %(&.
)#'-.,6;MLI=MML=MMM&aVE&*((2-%&$+1-'A2'+)36 @($'+(6=& ,.-)$(23.-36& ^[f& $+1'()$*+;& V'8 $/!%-&=& $%& .& %'3183$:$)'7& 7$%'.%'& *1& )#'
$+&.%%*($.)$*+&0$)#&*)#'-&)6,'%&*1&$::28 -$,#'-.3& 43**7& '*%$+*,#$3$.& $%& .& (*:,*8 )*+52'=&*-.3&:2(*%.=&*-&3$,%=&:.+$1'%)'7
+*%2,,-'%%$*+;MMN& aVE& *1& $+1.+(6& ,-'8 +'+)&*1&.33&)#-''&)6,'%&*1&aVE;&O3)#*25# .%& .& M8& )*& N8(:& 23('-& 0$)#& )#'& #$%)*8
%'+)%& 72-$+5& )#'& @-%)& 6'.-& *1& 3$1'=MLK=MLT ,.)$'+)%& 0$)#& (3.%%$(& aVE& 2%2.336& #./' ,.)#*3*5$(& ,.))'-+& *1& :.%%$/'& '*%$+*8
$+(327$+5&)#'&+'*+.).3&,'-$*7;&"#'&+2:8 '*%$+*,#$3$.& 0$)#& 3'2>*(6)*%$%=& ^[f8 ,#$3& $+@3)-.)$*+& 'H)'+7$+5& $+)*& 2+7'-368
4'-& *1& ,.)$'+)%& -',*-)'7& )*& #./'& ^[f8 ,*%$)$/'& ,.)$'+)%& *1)'+& 'H#$4$)& '*%$+*8 $+5& :2%(3';MNLXMNN& "#'& $+@3)-.)'& *1)'+
.%%*($.)'7& aVE& 1.-& 'H(''7%& )#*%'& $+& )#' ,#$3$.&0$)#&36:,#*,'+$.;&\*0&DJS&('33 (*+).$+%&36:,#*(6)'%=&#$%)$*(6)'%=&,3.%:.
*)#'-& )0*& (.)'5*-$'%;& aVE& .%%*($.)'7 (*2+)%&.+7&#$5#&[5a&3'/'3%&.-'&)6,$(.3&*1 ('33%=& +'2)-*,#$3%& .+7& :.%)& ('33%;& "#'
0$)#& $::2+*%2,,-'%%$*+& #.%& 4''+& *48 ^[f8.%%*($.)'7& aVE;MML& ^$%)*3*5$(.336= @+7$+5& *1& 3.-5'& DJPLi& 36:,#*(6)'%& $+
%'-/'7& $+& ^[f8+'5.)$/'& ,.)$'+)%& 0#* )#'& :*%)& %)-$>$+5& 1'.)2-'& $%& )#'& $+@3)-.8 '*%$+*,#$3$(& 23('-& *1& )#'& *-.3& :2(*%.
#./'& #':.)*3*5$(& *-& 36:,#*,-*3$1'-.8 )$*+&*1&'*%$+*,#$3%&$+)*&#.$-&1*33$(3'%&.+7 %255'%)%&)#.)&$)&:.6&4'&.&36:,#*,-*3$18
)$/'&7$%'.%'=&$+(327$+5&36:,#*:.=&3'2>'8 ,'-$1*33$(23.-& .-'.%& B%''& 'E$5;& P!8K;N& $+ '-.)$/'&7$%*-7'-;MNP MLT
.+7& #',.)$(& 7-25& %'+%$)$/$)6& -'.()$*+%=
.+7&^a<;MKM&a*%$+*,#$3%&'3.4*-.)'&:'7$.8
)*-%&)#.)& 7'5-.7'&(*33.5'+& .+7&%)$:23.)'
7'-:.3& @4-*43.%)& JUO& %6+)#'%$%& .+7
:.)-$H& ,-*72()$*+;MKN& a*%$+*,#$3$(& 1.%($8
$)$%&2%2.336&,-'%'+)%&0$)#&,.$+=&'-6)#':.=
%0'33$+5=& .+7& $+72-.)$*+& *1& )#'& 'H)-':$8
)$'%=& .%& 0'33& .%& ,'-$,#'-.3& 43**7& '*%$+*8
,#$3$.& .+7& #6,'-5.::.53*423$+':$.;MKP
D*+)-.()2-'%& .+7& -$,,3$+5& *1& )#'& %>$+
:.6&7'/'3*,&BE$5;&P!8IF;&"#'-'&$%&$+@3)-.8
)$*+& *1& 36:,#*(6)'%=& ,3.%:.& ('33%=& :.%)
('33%=& .+7& '*%$+*,#$3%=& .%& 0'33& .%& $+8
(-'.%'7&)#$(>+'%%&*1&)#'&1.%($.;
a*%$+*,#$3$.8:6.35$.&%6+7-*:'&BaG<F=
BC;<$:.MTG" .;AB9;GMB<BC #$%)*-$(.336&-'3.)'7&)*&$+5'%)$*+& *1& ('-).$+
N=ACBB6BA:+1HCD7K7>+ADB9+;N+6M7 3*)%& *1& \8)-6,)*,#.+=& $%& (#.-.()'-$9'7& 46
6MBEMA: :.->'7&,'-$,#'-.3& '*%$+*,#$3$.=& 7$%.43$+5
5'+'-.3$9'7&:6.35$.%=&,+'2:*+$)$%=&:6*8
(.-7$)$%=&+'2-*,.)#6=&'+(',#.3*,.)#6=&.+7
3$!"!3%$+).%3'!("+1%''.)"-+ %,'($:'+%&1-*:&)#$%&7$%*-7'-PN&.+7&$)% @4-*%$%=MKS&.&(*+%)'33.)$*+&*1&1'.)2-'%&)#.)
k!'2+.(-!"(12!$+!"c($c.&."' 3*(.3$9'7&/.-$.+)=&-'(2--'+)&1.($.3&'7':. .-'&%$:$3.-&)*&42)&7$%)$+52$%#.43'&1-*:&'*8
0$)#&'*%$+*,#$3$.=MPN&%#*0&1'0&'*%$+*8 %$+*,#$3$(& 1.%($$)$%;MK!=MKK& D2).+'*2%& .48
"#'-'&.-'&.&/.-$')6&*1&7$%'.%'%&$+&0#$(#
,#$3%=&42)&$::2+*?2*-'%('+('&%).$+$+5 +*-:.3$)$'%&*1&aG<&$+(327'&'7':.=&,-2-$8
'*%$+*,#$3%& :.6& 4'& ,-'%'+)& $+& (2).+'8
-'/'.3%&'H)-.('3323.-&7',*%$)$*+&*1&'*%$+8 )2%=& .& 1.$+)& '-6)#':.)*2%& -.%#=& #.$-& 3*%%=
*2%&3'%$*+%=&0$)#&*-& 0$)#*2)& .%%*($.)'7
*,#$3&5-.+23'&,-*)'$+%&.-*2+7&(*33.5'+ .+7 4#&/12X%(&*E#&*-&:*-,#'.83$>'&%>$+&3'8
,'-$,#'-.3&43**7&'*%$+*,#$3$.=&42)&'$)#'-
42+73'%&.+7&43**7&/'%%'3%;&"#'&%6+8 %$*+%;MKI&\2+5%=&#'.-)=&.+7&+'-/*2%&%6%)':
)#'& #$%)*3*5$(& ,.))'-+& $%& 2+-':.->.43'
7-*:'&$%&.%%*($.)'7&0$)#&.&+2:4'-&*1 :.6&4'&.11'()'7;MKT&"#'-'&$%&.&,-*:$+'+)
*-&'*%$+*,#$3%&.-'&+*)&(-$)$(.3&1*-&)#'&#$%8
$::2+*3*5$(&.4+*-:.3$)$'%=&$+(327$+5 $+?.::.)*-6&$+@3)-.)'&$+&)#'&,'-$:6%$2:
)*3*5$(&7$.5+*%$%&*1&)#'&5$/'+&'+)$)6&B%''
$+(-'.%'7&.()$/.)'7&"&('33%MPN. &.+7&$+8 .+7&1.%($.=&.+7&%)-$>$+5&'/$7'+('&*1&'*%$+8
".43'& P!8MF;& [+& :.+6& *1& )#'%'& 7'-:.8
(-'.%'7&%'-2:&[\8!&3'/'3%;MPP &D.,$33.-6 *,#$3& 5-.+23'& ,-*)'$+& 7',*%$)$*+& $+& %>$+
)*%'%=& )#'& '*%$+*,#$3& 3*%'%& $)%& :*-,#*8
3'.>&%6+7-*:'%=&72'&)*&.7:$+$%)-.)$*+ .+7&.-*2+7&:2%(3'&42+73'%;MKQ
3*5$(& $+)'5-$)6& .1)'-& 7$%-2,)$*+& )#-*25#
*1&[\8NMPS&.+7&5-.+23*(6)'8:.(-*,#.5' "*H$(& *$3& %6+7-*:'& B"o<F=& 0#$(#& -'8
(6)*36%$%&.+7&$%&+*)&$7'+)$@.43'&#$%)*3*58
(*3*+68%)$:23.)$+5&1.()*-=MP!&.3%*&.-'&.%8 %':43'%&aG<=&0.%&3$+>'7&)*&(*+%2:,)$*+
$(.336;MNS& ^*0'/'-=& )*H$(& 5-.+23'& ,-*8
%*($.)'7&0$)#&,'-$,#'-.3&43**7&'*%$+*8 *1& .723)'-.)'7& -.,'%''7& *$3& 7$%)-$42)'7& $+
)'$+%& .+7& *)#'-& '*%$+*,#$3& ,-*72()%& .-'
,#$3$.=&$+(-'.%'7&%'-2:&[\8!&3'/'3%=&.+7 )#'& $+72%)-$.3& 4'3)& .-*2+7& G.7-$7;MIL& V.8
7',*%$)'7& $+& %>$+& .+7& ,'-%$%)& 1*-& 'H8
'*%$+*,#$3&7'5-.+23.)$*+; )$'+)%& 'H,'-$'+('7& .(2)'& -'%,$-.)*-6
)'+7'7&,'-$*7%&*1&)$:';MN!
%6:,)*:%&1*33*0'7&46&$+)'+%'&:6.35$.%=
)#-*:4*':4*3$%:=&0'$5#)&3*%%=&%$((.&%6+8
.>7@= 3MK;9BC+,7K@=6B6BA[1KHKB6HA 7-*:'=&.+7&)#'+&.& (#-*+$(& ,#.%'& (#.-.(8
O3)#*25#& $+1'%).)$*+%& )6,$(.336& .-'& .%8 )'-$9'7& 46& '*%$+*,#$3$(& 1.%($$)$%X3$>'& 3'8
V-*:$+'+)&.:*+5&)#'&'*%$+*,#$38.%%*($8
%*($.)'7& 0$)#& '*%$+*,#$3%=& )#'& #$%)*8 %$*+%=& ,'-$,#'-.3& +'2-*,.)#6=& :2%(3'
.)'7& %>$+& -'.()$*+%& .-'& )#*%'& :.+$1'%)8
3*5$(&,.))'-+&$%&+*+87$.5+*%)$(&2+3'%%&. .)-*,#6=& .+7& ,23:*+.-6& #6,'-)'+%$*+;
$+5& '7':.;& [+& .77$)$*+& )*& )#'& ,-'%'+('
%,'($@(&*-5.+$%:& $%&$7'+)$@'7& $+&)$%%2' "#'& (2).+'*2%& :.+$1'%).)$*+%& *1& "o<
*1& (.)$*+$(& 5-.+23'& ,-*)'$+%& $+& 3'%$*+%=
%'()$*+%;!=MPK 0'-'&.&+*+8%,'($@(&,-2-$)$(=&'-6)#':.)*2%
)#'& .4$3$)6& *1& '*%$+*,#$3%& )*& '3.4*-.)'
-.%#& )#.)& ,'-%$%)'7& 2,& )*& S& 0''>%=& 1*38
/.%*.()$/'& :'7$.)*-%=& $+72('& #$%).:$+'
3*0'7&*/'-&)#'&+'H)&N&:*+)#%&46&%24(2).8
-'3'.%'& 1-*:& :.%)& ('33%& .+7& 4.%*,#$3%= /<BA67KA +'*2%& '7':.=& :.$+36& *1& )#'& 'H)-':$)$'%=
.+7& '3$($)& .& (2).+'*2%& 0#'.38.+78?.-'
O2)*$::2+'& 43$%)'-$+5& 7$%'.%'%& *1)'+ .((*:,.+$'7& 46& :6.35$.%=& .-)#-.35$.%=
-'.()$*+& %2,,*-)%& .& -*3'& 1*-& )#'& '*%$+*8
.-'& .%%*($.)'7& 0$)#& ,-*:$+'+)& $+@3)-.8 (*+)-.()2-'%=&.+7&,'-$,#'-.3&43**7&'*%$+*8
,#$3& .%& .& ,-$:.-6& ,.-)$($,.+)& $+& )#'
)$*+& *1& '*%$+*,#$3%=& $+(327$+5& ,-'%'+).8 ,#$3$.;& o/'-& :.+6& 6'.-%=& ,.)$'+)%& 7'/'38
'7':.& .%%*($.)'7& 0$)#& ('-).$+& (2).+'8
)$*+& .%& '*%$+*,#$3$(& %,*+5$*%$%& B%'' *,'7&$+72-.)'7&,3.A2'%&*1&)#'&,-')$4$.3&.-8
*2%&7$%'.%'%&B%''&D#.,;&PIF;MM
D#.,%;&!N&.+7&!SF; '.%& .+7& *((.%$*+.336& )#'& 1*-'.-:%& .+7
:1CH?AC>. 57;C?:A:J5. 5HH?>C5@:A. RC@F [+& .77$)$*+& )*& ,':,#$5*$7& 5'%).)$*+$% .47*:'+=MIL&0$)#&:.->'7&@4-*%$%&'H)'+78
:?HC7?1FC=C5.X;=:C>F.HI7A$?J:Z..a,$%*7$( B0#$(#&:.6&'H#$4$)&'*%$+*,#$3$(&%,*+5$8 $+5&$+)*&%24(2).+'*2%&1.);&a*%$+*,#$3&$+@38
.+5$*'7':.&.%%*($.)'7&0$)#&'*%$+*8 *%$%F=& %'/'-.3& *)#'-& ,-2-$)$(& 7'-:.)*%'% )-.)$*+&.+7&7'5-.+23.)$*+&0'-'&'%,'($.336
,#$3$.&$%&(#.-.()'-$9'7&46&-'(2--'+)&.+8 *1&,-'5+.+(6&B%''&D#.,;&MLIF&:.6&(*+8 ,-*:$+'+)&$+&)#'&.(2)'&,#.%'&*1&"o<=&.+7
5$*'7':.&B0$)#&2,&)*&PL&,'-('+)&$+8 ).$+&)$%%2'&'*%$+*,#$3$.;M!KXM!Q %'-2:& '*%$+*,#$3& 5-.+23'& ,-*)'$+& 3'/'3%
(-'.%'&$+&4*76&0'$5#)F=&2-)$(.-$.=&1'/'-= 0'-'&'3'/.)'7&72-$+5&.33&,#.%'%;MIM
$+(-'.%'7&%'-2:&[5G&3'/'3%=&.+7&3'2>*8 #BJK;ABA
(6)*%$%&.%&#$5#&.%&MLL=LLL&('33%R:: P
c=ACH<B6BA
0$)#&2,&)*&QL&,'-('+)&'*%$+*,#$3%Z&7$%8 a*%$+*,#$3%&.-'&1*2+7&$+&.%%*($.)$*+&0$)#
'.%'&.()$/$)6&?2()2.)'%&0$)#&)#'&,'-$,#8 @4-*)$(& -'.()$*+%=& $+(327$+5& )#*%'& -'%23)8 a*%$+*,#$3%& *1)'+& .-'& .%%*($.)'7& 0$)#
'-.3&'*%$+*,#$3&(*2+);PN=MPM&<>$+&4$*,%6 $+5&1-*:&,.-.%$)$(& $+1'()$*+%=& ,23:*+.-6 (2).+'*2%&3'%$*+%&)#.)&-',-'%'+)&.33'-5$(
MLU
7-25& -'.()$*+%;& "#'-'& $%& '/$7'+('& )#.)= MLM; D#*+5& m<=& "#*:.%& O=& C*#& D\]
i.*+).#.)."3.- p$:2-.n%& 7$%'.%'& .+7& .+5$*36:,#*$7
0#'+& '*%$+*,#$3%& .-'& ,.-)& *1& )#'& #$%)*8
#6,'-,3.%$.&0$)#&'*%$+*,#$3$.]&"0*&7$%8
3*5$(&,.))'-+&$+&3'2>*(6)*(3.%)$(&/.%(23$8 'M7+NH<<+K7N7K79C7+<BA6+N;K+=<<+CM=G67KA+ '.%'& '+)$)$'%& $+& )#'& %.:'& ,.)$'+)]& D.%'
)$%=& )#'& '-2,)$*+& $%& ,-*4.436& 7-25 BA+=8=B<=J<7+=6+LLL:>BE@S:C;@: -',*-)&.+7&-'/$'0&*1&)#'&3$)'-.)2-';&;*'1M
$+72('7MIN& B%''& D#.,;& MKSF;& [+& MQ!M= 8#($&'%. '"]MPQ=&NLLK
D#2-5& .+7& <)-.2%%& 7'%(-$4'7& )#'& (*:8 M; \'$1'-:.+&pG]&O&(2--'+)&,'-%,'()$/'&*+ MLN; v2'+& ^m& ')& .3]& p$:2-.n%& 7$%'.%']& O
,3'H&*1&%6%)':$(&/.%(23$)$%=&.%)#:.=&.+7 )#'& -*3'& *1& '*%$+*,#$3%& $+& 7'-:.)*3*5$( 7$.5+*%)$(& .+7& )#'-.,'2)$(& (#.33'+5';
7$%'.%'%; M1 L$1 L!&21 8#($&'%. &']MMLM= 6)*E&4%(#1>#21M '!]MIQ=&NLL!
'*%$+*,#$3$.& .%& &..#(E)!1 E(&*/.%$&'%-)-;MIP MQQM MLT; U'-/$& <e=& <(#0.-)9& YO=& J:*(#*0%>$
D2).+'*2%& 3'%$*+%& .-'& (#.-.()'-$9'7& 46 N; C3'$(#& Ce]& G'(#.+$%:%& *1& '*%$+*,#$38 G]& a*%$+*,#$3$(& ,2%)23.-& 1*33$(23$)$%]& O
'*%$+*,#$3& $+@3)-.)$*+=& +'(-*)$9$+5& /.%8 .%%*($.)'7& $+?.::.)$*+;& M1 L..#(E01 7.)* SL& 6'.-& -')-*%,'();& M1 L$1 L!&21 8#($&'%.
(23$)$%=& .+7& 'H)-./.%(23.-& 5-.+23*:.% ;$$/*%. #*"]K!M=&NLLL ""]NT!=&NLLK
S; p3$*+& OJ=& U2):.+& "W]& "#'& -*3'& *1 MMQ; a33$%& a=& <(#'$+1'37& U]& a*%$+*,#$3$(& ,2%8
B%''&D#.,;&MK!F; '*%$+*,#$3%&$+&#*%)&7'1'+%'&.5.$+%)&#'38 )23.-& 1*33$(23$)$%]& O& (*:,-'#'+%$/'
:$+)#& ,.-.%$)'%;& M1 L..#(E01 7.)*1 ;$$/*%. -'/$'0& *1& )-'.):'+)& *,)$*+%;& L$1 M1 7.)*
##(]PL=&NLLS 8#($&'%. "]MTQ=&NLLS
&=<BE9=9CF PL; C3'$(#& Ce=& \'$1'-:.+& pG]& "#'& #6,'-8 MN!; J./$%&GJ&')&.3]&[+)'-.()$*+%&*1&'*%$+*8
'*%$+*,#$3$(&%6+7-*:'%]&<)$33&:*-'&#')'-8 ,#$3& 5-.+23'& ,-*)'$+%& 0$)#& %>$+]& \$:$)%
a*%$+*,#$3%& :.6& 4'& *4%'-/'7& $+& .& /.-$8 *5'+'$)6;&7/((1J4)*1;$$/*%. #$]KIQ=&NLL! *1& 7')'()$*+=& ,'-%$%)'+('=& .+7& /.%*,'-8
')6& *1& (2).+'*2%& .+7& 'H)-.(2).+'*2% TL; G**%%./$&G=&G'#-'5.+&JY]&m'33%n&%6+8 :'.4$3$9.)$*+; M1 L..#(E01 7.)*1 ;$$/*%.
+'*,3.%:%;& "#'$-& ,-'%'+('& $+& )2:*-% 7-*:']& O& (3$+$(.3& .+7& #$%)*,.)#*3*5$( ##&]QTT=&NLLP
.,,'.-%& )*& 4'& $+7','+7'+)& *1& $::2+' -'/$'0& *1& %'/'+& (.%'%;& ;*'1 M1 8#($&'%. MIT; D*-:$'-& <O& ')& .3]& V$/*).3& .7/.+(']
'&]KN=&NLLP a*%$+*,#$3&$+@3)-.)$*+&*1&%*3$7&)2:*-%&$%
%2-/'$33.+('&.+7&3$>'36&$%&,.-)&*1&.+&'.-36 TP; m'33%&CD=&m#$:%)'-&[m]&<24(2).+'*2% .+& '.-36& .+7& ,'-%$%)'+)& $+?.::.)*-6
$+?.::.)*-6& -'.()$*+& .)& )#'& %$)'& *1 .+5$*36:,#*$7,'-,3.%$.&0$)#&'*%$+8 #*%)& -'%,*+%';& M1 V#/,%!1 ?)%. $%]MMPM=
)2:*-$5'+'%$%;MIT *,#$3$.; ?(1M18#($&'%. )#]M=&MQKQ NLLK
ML"
!"#$%&'()%#*+)*+#,*'--.%-)/+%0-'*1%
!"#$%&'( !"#$%&&%'()*+,!-.%-.-+/%-.,+("+
! %/"()&%$+01&()%$+).%2'!3!'*+%",+
('0.)+!"#$%&&%'()*+,!-.%-.-
46)8%<8%-9(-+(8),,4(-70-(2+(&+-(70*)(-7)%$
20%4'.)+56 +1&( )&2+')&+#4,9( 6$+2#8)2( 0&-%')&5
46)8%<8($)8)6-+$4?
01&()%$+
$%&'()*+,&&%-./0+ !&&1"!'*+%",+
)-1+2'&3*4&4-/
%"'!/(,*+-')12'1).
K&-%3+2%)4.( +$( %>>#&+',+3#,%&4( HM'J.
%"'!/(,*+
$789+%:+$77
0$)(0(=0>%,9(+=(',98+6$+-)%&4(-70-(470$)
0( 8+>>+&( 4-$#8-#$)?CPQ( D7)( 0&-%3+29
-')12'1).
"#$%&'()*+,#-%+&.(/01)2(*)$-)3$0-)4(2)5
*),+6)2( -7)( 80608%-9( -+( $)46+&2( 1%-7
>+,)8#,)(704(0(49>>)-$%8(!54706)(8+&5
4%4-%&'( +=( -1+( %2)&-%80,( ,%'7-( 870%&4.
)087( 03+#-( CQ( R2.( -70-( 0$)( 8+*0,)&-,9
%'+%+;$%"2.+
):;#%4%-)( 46)8%<8%-9( -+( =+$)%'&( +$'0&5 ,%&R)2( -+( -1+( %2)&-%80,( 7)0*9( 870%&4.
%4>4?@( A6)8%<8( %>>#&%-9( %4( 870$08-)$5 )087( 03+#-( SS( +$( TI( R2.( -70-( 0$)( 8+5
%B)2(39(0&()&+$>+#4(2%*)$4%-9(+=(6+44%5 *0,)&-,9(,%&R)2(-+(+&)(0&+-7)$(HN%'?(U!5@J?
3,)( $)46+&4)4( 0&2( 39( $)<&)>)&-( %&( -7) V%-7%&( -7)( ,%'7-( 0&2( 7)0*9( 870%&4( 0$)
%>>#&)($)46+&4)(1%-7(4#88)44%*)():6+5 *0$%03,)( 0&2( 8+&4-0&-( $)'%+&4?( D7)( >05
4#$)4( -+( -7)( +$'0&%4>?C( D7)( 8),,4( -70- /+$( =#&8-%+&( +=( -7)( *0$%03,)( $)'%+&( %4( -+
80&( 2%48$%>%&0-)( 1%-7( <&)( 46)8%<8%-9 $)8+'&%B)(0&-%')&.(17)$)04(-7)(8+&4-0&- 0<=>?98+@==<A@BCD+=7E@9B7E+FC+9AB@F>EG
-7$+#'7( -7)%$( *04-( $)6)$-+%$)( +=( $)8)65 $)'%+&( >)2%0-)4( )==)8-+$( =#&8-%+&4?(D7) @7H+I?>E<J7E+FC+/+8C=IK>JCB7HD+@H+9+L>?=+
-+$4( 0$)( ,9>67+89-)4?( A6)8%<8( %>>#5 ,%'7-( 0&2( 7)0*9( 870%&4( 8+&-0%&( 0( 4)$%)4 >L+HI7J@MJ+@==<A@BC+E@?7JB7E+I?@=9?@8C+
&%-9.( 0,4+( 80,,)2( !"!#$%&'( %))*+%$,( 3)5 +=($)6)0-%&'.(7+>+,+'+#4(#&%-4(+=(03+#- B>N9?E+7OB?9J788<89?+9AB@P7AH:
80#4)( %-( 2)*),+64( 04( 0&( 0206-0-%+&( -+ @@I(0>%&+(08%24(-70-(044#>)(0(',+3#,0$ %AB@F>EC+=>87J<87H+J>AH@HB+>L+BN>+@E7AB@J98+
%&=)8-%+&.(80&(3)(4)'$)'0-)2(%&-+(7#>+$0, 4-$#8-#$)( 0&2( 0$)( 80,,)2( -.( "/)!%+0?( D7) 8@PKB+JK9@AH+J>Q987AB8C+8@AR7E+B>+BN>+@E7AB@G
%>>#&%-9.( >)2%0-)2( 39( 0&-%3+2%)4( 6$+5 M'(2+>0%&(>+-%=(%4(=+#&2(&+-(+&,9(%&(0&5 J98+K79QC+JK9@AH:+'K7+Q9?@9F87+?7P@>A+>L+BK7+
2#8)2( 39( E( ,9>67+89-)4.( 0&2( 8),,#,0$ -%3+29(>+,)8#,)4(3#-(0,4+(%&(0(*0$%)-9(+= 9AB@F>EC+=>87J<87+@H+?7HI>AH@F87+L>?+9AB@G
%>>#&%-9.(>)2%0-)2(39(D(,9>67+89-)4? +-7)$(>+,)8#,)4(+=(-7)(M'(W4#6)$=0>%,9.X F>EC+F@AE@APD+9AE+BK7+J>AHB9AB+?7P@>A+
D7)4)( -1+( =+$>4( +=( 46)8%<8( %>>#&%-9 %&8,#2%&'( -7)( D( 8),,( $)8)6-+$.( -7)( >0/+$ =7E@9B7H+=>HB+7LL7JB>?+L<AJB@>AH:
2)*),+6)2( -+( 4)$*)( 2%==)$)&-( =#&8-%+&4? 7%4-+8+>60-%3%,%-9( 8+>6,):( HYFGJ. 'K7+MQ7+9AB@F>EC+J89HH7H+H7?Q7+E@HB@AJB+
F#>+$0,(%>>#&%-9(%4(2%$)8-)2(6$%>0$%,9 G"Q.(G"Z.(%&-)$8),,#,0$(027)4%+&(>+,)5 L<AJB@>AH:+!==<A>P8>F<8@A+&+S!P&T+@H+
-+10$2( ):-$08),,#,0$( 0&-%')&4( 4#87( 04 8#,)( @.( 0>+&'( +-7)$( >+,)8#,)4?( D7) @AQ>8Q7E+@A+I?@=9?C+9AB@F>EC+?7HI>AH7HD+
8%$8#,0-%&'( 308-)$%0( 0&2( -+:%&4?( G),,#,0$ ,%'7-( 870%&( 704( -1+( >0/+$( 2+>0%&4.( 0 !P,+@H+9A+9AB@P7A+?7J7IB>?+>A+A9@Q7+/+J788HD+
%>>#&%-9( %4( 2%$)8-)2( 6$%>0$%,9( -+10$2 *0$%03,)(H[\J(0&2(0(8+&4-0&-(HG\J(2+>0%&? !P%+@H+J?@B@J98+L>?+=<J>H98+@==<A@BCD+!P;+@H+
0&-%')&4( -70-( %&=)8-( +$( %&703%-( 8),,4( H=+$ D7)( 7)0*9( 870%&4( 70*)( =+#$( +$(<*)( 2+5 BK7+=9U>?+!P+@A+BK7+J@?J<89B@>A+9AE+@H+@=I>?G
8),,#,0$( %>>#&%-9.( 4))( G706?( @IJ?( D+ >0%&4.(0(*0$%03,)(H[FJ(0&2(-7$))(H%&(M'K. B9AB+@A+H7J>AE9?C+9AB@F>EC+?7HI>AH7HD+9AE+
8+>30-():-$08),,#,0$(60-7+')&4.(-7)(2)5 M'".( 0&2( M']J( +$( =+#$( H%&( M'Y( 0&2( M'^J !P.+=7E@9B7H+@==<A@BC+B>+I9?9H@B7H:
=)&2%&'(0')&-(&))24(-+(3)(03#&20&-(0&2 8+&4-0&-( HGF@5QJ( 2+>0%&4?( M&( M'K.( M'".
%A+@AE@Q@E<98+@H+J9I9F87+>L+P7A7?9B@AP+
1%2),9(2%4-$%3#-)2(%&(-7)(3+29.(60$-%8#5 0&2(M'].(-7)$)(%4(0(7%&')($)'%+&(3)-1))&
=@88@>AH+>L+E@HB@AJB+9AB@F>E@7H+@A+=@88@>AH+
,0$,9( 0-( %-4( %&-)$=08)4( 1%-7( -7)( )&*%$+&5 GF@( 0&2( GFC( -70-( 8+&=)$4( 022%-%+&0,
>L+E@HB@AJB+/GJ788+J8>A7H+BK?><PK+BK7+I?>G
>)&-?(K&-%3+2%)4(=#,<,,(-7)4)(870$08-)$5 L):%3%,%-9(-+(-7)(>+,)8#,)?(D7)(*0$%03,)
J7HH7H+>L+P7A7+?79??9AP7=7AB+9AE+U<AJG
%4-%84(39(3)%&'(80603,)(+=(3)%&'(4)8$)-)2 2+>0%&4( 0$)( 0-( -7)( _5-)$>%?( K-( -7)
B@>A98+E@Q7?H@BC:
%&('$)0-(;#0&-%-9(=$+>(-7)(8),,4(-70-(6$+5 G5-)$>%( 0$)( -7)( 8+&4-0&-( 2+>0%&4
2#8)( -7)>( 0&2( 39( 3)%&'( 2%4-$%3#-)2( %& 0&2.(%&(-7)(7)0*9(870%&4(+=(>)>3$0&)5
3,++2.( >#8+40.( 0&2( %&-)$4-%-%0,( L#%2?( M& 3+#&2( 0&-%3+2%)4.( -7)( -$0&4>)>3$0&) .%/+0?( D7)4)( -7$))( $)'%+&4.( 17%87( 0$)( %&
022%-%+&.( 0&-%3+2%)4( 80&( 0--087( -7$+#'7 0&2(89-+6,04>%8(2+>0%&4? 6$+:%>%-9( -+( +&)( 0&+-7)$( %&( -7)( -7$))5
N8($)8)6-+$4(HN8O4J(-+(-7)(4#$=08)(+=(8)$5 V%-7%&( -7)( *0$%03,)( $)'%+&4( +=( -7) 2%>)&4%+&0,( 4-$#8-#$)( +=( -7)( 0&-%3+29.
-0%&( +-7)$( 8),,4( +=( -7)( %>>#&)( 494-)>. ,%'7-(0&2(7)0*9(870%&4(0$)(-7$))(0$)04(+= 0$)(-7)(0$)04(>+4-($)46+&4%3,)(=+$(3%&25
4#87( 04( >04-( 8),,4.( 8+&=)$$%&'( 0&-%')& %&-)&4)(*0$%03%,%-9(80,,)2(1,#'2&!2%!34'(2'5 %&'( 0&-%')&?( E)80#4)( -7)( 796)$*0$%03,) !"#
!"#$%&'()* *+,,-*.$*/(0*123%4567&88*!"9#4:&0;<*=:2>*!8&2?*(0%0*@"%*)0%9;*"@*A;0>
+=(<*)(M'Y(>+,)8#,)4(/+%&)2(0-(-7)%$(G5
-)$>%&%(39(-0%,(6%)8)4(0&2(4-03%,%B)2(39(0
>+,)8#,)( 80,,)2( 0( 9/%+%+.( :;8( 61!%+?( D7)
)&'0')>)&-( +=( >)>3$0&)53+#&2( M'Y
39( 0&-%')&( $)4#,-4( %&( -7)( 08-%*0-%+&( +=
&0%*)( E( 8),,4?( A)8$)-)2( M'Y( $)8+'&%B)4
0&-%')&.(#4#0,,9(-7$+#'7(,+150=<&%-9(%&5
-)$08-%+&4.( 0&2( %-( 80&( 08-%*0-)( 8+>6,)5
>)&-?( M'Y( %4( -7)( >0/+$( )==)8-+$( +=( -7)
6$%>0$9( 0&-%3+29( $)46+&4)?( K,-7+#'7
M'Y(%&-)$08-%+&4(0$)(-96%80,,9(,+1(0=<&5
%-9.( M'Y( 80&( 3)( *)$9( )==)8-%*)( %&( $)5
46+&2%&'( -+( 0( 6+,9*0,)&-( 0&-%')&( H4#87
04( 0( 6+,9408870$%2)( 1%-7( $)6)0-%&'
)6%-+6)4J( 3)80#4)( %-4( 6)&-0>)$%8( 4-$#85
-#$)(0,,+14(=+$(>#,-%6,)(,+150=<&%-9(%&5
-)$08-%+&4.($)4#,-%&'(%&(0(7%'750*%2%-9(%&5
-)$08-%+&?( H<&%"%$,( $)=)$4( -+( -7)( +*)$0,,
4-$)&'-7(+=(0--087>)&-.(17)$)04(!=>+%$,
$)=)$4(-+(-7)(4-$)&'-7(+=(0--087>)&-(0-(0
4%&',)(0&-%')&53%&2%&'(4%-)?J
!==<A>P8>F<8@A+,
D7)( M'"( >+,)8#,)( ):%4-4( 6$%>0$%,9( %&( 0
>)>3$0&)53+#&2( =+$>( 0&2( %4( -7)( 4)85
+&2(0&-%3+29(8,044(-+(3)():6$)44)2(2#$5
%&'( E58),,( 2)*),+6>)&-?( M-4( =#&8-%+&( %4
&+-( 8+>6,)-),9( #&2)$4-++2.( 3#-( %&( %-4
>)>3$0&)53+#&2( =+$>( %-( 80&( 4)$*)( 04
7,89:;+!<=" -JK7=9B@J+?7I?7H7AB9B@>A+>L+9A+@==<A>P8>F<8@A+;+S!P;T+=>87J<87: 0&(0&-%')&($)8)6-+$(=+$(&0%*)(E(8),,4?!
$)'%+&4(=+$>(0(4706)(8+>6,)>)&-0$9(-+ %&'( +=( M'K@( 0&2( M'KC.( 0&2( M']@.( M']C. !==<A>P8>F<8@A+%
-70-(+=(-7)(0&-%')&.(-7)(796)$*0$%03,)($)5 M']U.(0&2(M']Q(HD03,)(U!5@J?
'%+&4(0$)(0,4+(80,,)2(-7)(6/)#4')'+$!2%$,5 ( ^&B9>0-%8( 2%')4-%+&( +=( M']( >+,)5 M'K(%4(-7)(>+4-(03#&20&-(M'(%&(-7)(3+29.
"'$'2)%+%+.( 2'.%/+0?( D7)( #&%;#)( 0$)04 8#,)4(39(6060%&($)4#,-4(%&(-7$))(8,)0*0') 3)%&'(6$)4)&-(%&(,0$')(;#0&-%-9(0-(>#8+5
=+$>)2(39(-7)(796)$*0$%03,)($)'%+&4(0$) 6$+2#8-4.( -1+( %2)&-%80,( N03( =$0'>)&-4 40,( 4%-)4?( M-( %4( $)46+&4%3,)( =+$( >#8+40,
6$)4)&-(%&(-++(,+1(0&(0>+#&-(%&(-7)(%&5 8+&4%4-%&'(+=(0(,%'7-(870%&(3+#&2(-+(-7) %>>#&%-9(0&2(%4(4)8$)-)2(%&(3$)04-(>%,R.
2%*%2#0,(-+(')&)$0-)(4),=5-+,)$0&8)?(D7#4. [5GF@($)'%+&(+=(-7)(7)0*9(870%&(0&2(0& -7#4(8+&-$%3#-%&'(-+(&)+&0-0,(%>>#&%-9?
-7)(%>>#&)(494-)>(>09(&+-(2%4-%&'#%47 N8( 6+$-%+&( 8+&4%4-%&'( +=( -1+( GFC5GFU M&(%-4(4)8$)-)2(=+$>.(%-():%4-4(04(0(>+&+5
-7)( #&%;#)( 6+$-%+&( +=( -7)( 0&-%3+29( 04 7)0*9( 870%&4( 3+#&2( -+( )087( +-7)$?( 7!3 >)$.( 2%>)$.( +$( -$%>)$.( 1%-7( -7)( >#,-%5
4),=(0&2(>09(6$+2#8)(0&-%3+2%)4(-+(-70- 104( 4+( &0>)2( =+$( %-4( 6$+6)$-9( +=( 0&-%5 >)$4( 3)%&'( =+$>)2( 39( %&-)$08-%+&4( 3)5
$)'%+&( +=( -7)( 0&-%3+29?( D7)( 0$)0( +=( -7) ')&(3%&2%&'.(0&2(76(104(4+(&0>)2(=+$(%-4 -1))&(-0%,(6%)8)4(0&2(4-03%,%B)2(39(-7)(`
0&-%3+29( 80603,)( +=( ')&)$0-%&'( 0&( %>5 6$+6)$-9( +=( 8$94-0,,%B%&'?( V7)&( M']( %4 870%&?( N+$( -$0&46+$-( 08$+44( )6%-7),%0,
>#&)( $)46+&4)( %4( 80,,)2( 0&( %"%/$/#'.( 0&2 2%')4-)2( 39( 6)64%&.( -7)( G5-)$>%&0,( $)5 4#$=08)4.(M'K(2%>)$4(0--087(-+(0(-96)(+=
0&-%3+29($)46+&4)4(-+(%2%+-+6)4($)4#,-(%& '%+&( %4( 2%')4-)2( %&-+( 4>0,,( =$0'>)&-4? N8O(80,,)2(-7)(#/4,)'2%6(-.(2'6'#$/2?T(a&8)
0(&)-1+$R(+=(%2%+-96%8P0&-%5%2%+-96%8(%&5 D7)( $)>0%&%&'( 6$+2#8-( 8+&4%4-4( +=( -7) -7)( -$0&46+$-( 6$+8)44( %4( 8+>6,)-).( -7)
-)$08-%+&4(-70-(>09(7),6($)'#,0-)(-7)(7#5 N03($)'%+&(0,+&'(1%-7(-7)(7%&')($)'%+&? M'K( 2%>)$4( $)>0%&( 0--087)2( -+( -7)( ):5
>+$0,(%>>#&)($)46+&4)?S N03( =$0'>)&-4( 8+&-0%&%&'( -7)( 7%&')( $)5 -$08),,#,0$(6+$-%+&(+=(-7)($)8)6-+$.(80,,)2
D7)$)(0$)(-1+(-96)4(+=(,%'7-(870%&4.( '%+&( 0$)( -)$>)2( N03 ?( V7)&( -7)( -1+ -7)( 0'62'$/2,( 6/)#/+'+$.( 17%87( 6$+-)8-4
0&2( .( )087( )&8+2)2( +&( 2%==)$)&-( 87$+5 N03 (=$0'>)&-4(%&(0&(0&-%3+29(>+,)8#,) -7)( M'K( =$+>( 6$+-)+,94%4?( G),,4( +=( -7)
>+4+>)4?( ^087( 0&-%3+29( >+,)8#,)( 704 $)>0%&(044+8%0-)2.(-7)(=$0'>)&-(%4(80,,)2 %>>#&)(494-)>(-70-(70*)($)8)6-+$4(=+$
)%-7)$(-1+( (+$(-1+( (870%&4.(&)*)$(+&) NH03 8C?( M'K( %&8,#2)( &)#-$+67%,4.( )+4%&+67%,4.
+=( )087?( D7)( =#&8-%+&0,( 2%==)$)&8)4.( %= 0&2(>+&+89-)4?
0&9.( 3)-1))&( ( 0&2( ( 0$)( &+-( R&+1&?
D7)$)(0$)(<*)(-96)4(+=(7)0*9(870%&4.( . %"'!/(,*+2$%--.- HA))(D03,)(
U!5@J !==<A>P8>F<8@A+;
.( .( .(0&2(!.(8+$$)46+&2%&'(-+(-7)(0&-%5
3+29( 8,044)4( M'K.( M'".( M'^.( M'].( 0&2 M'](%4(-7)(>+4-(03#&20&-(M'(%&(-7)(8%$8#5
M'Y.( $)46)8-%*),9?( D7)( 2%==)$)&-( 7)0*9 !==<A>P8>F<8@A+& ,0-%+&?( M-4( 4)8$)-)2( =+$>( %4( 0( >+&+>)$?
870%&( 8,044)4( 70*)( 4%'&%<80&-,9( 2%==)$5 M'](6,094(0&(%>6+$-0&-($+,)(%&(4)8+&20$9
)&-(=#&8-%+&4.( 04( 2%48#44)2( %&( K&-%3+29 M'Y( %4( -7)( <$4-( M'( >+,)8#,)( -+( 3)( ):5 0&-%3+29( $)46+&4)4.( 0&2( %-4( %&-)$08-%+&4
G,044)4?( D7)( M'K( 0&2( M']( 8,044)4( 8+&5 6$)44)2( 2#$%&'( E58),,( 2)*),+6>)&-?( M-4 1%-7(0&-%')&(-)&2(-+(3)(7%'750=<&%-9.(60$5
-0%&( 8,+4),9( $),0-)2( 4#38,044)4.( 8+&4%4-5 4)8$)-+$9(=+$>(%4(0(6)&-0>)$(8+&4%4-%&' -%8#,0$,9( 04( -7)( %>>#&)( $)46+&4)( >05
!56
!"#$%&'()*
!""#$%&'%(#')$*+',--.-*,$/*01.)2*3#$45)%$-
6;;=?A!@60<* 7<=8@* 7<=8@*
@?B<+8B6=*C<!DE0 ?3* +?I+<I0=60!?I* E6B3KB!3<*
6 7890:;<7 7<+=<0<>*3?=@ 7<+=<0<>*3?=@*FG>H F@DJ@BH F>6:7H 38I+0!?I7
!P& ">A7 47AB9=7? VWX Y:Z Z 4?@=9?C+9AB@F>EC+?7HI>AH7[+9AB@P7A+
?7J7IB>?+>A+A9@Q7+/+J788H[+J>=I87=7AB+
9JB@Q9B@>A
!P, ">A7 &>A>=7?9 Y\X9 '?9J7 5 %AB@P7A+?7J7IB>?+>A+A9@Q7+/+J788H
!P% !P%Y &>A>=7?D+I>8C=7?+ Y6X+S=>A>=7?TD+5VX+ 5 6 &<J>H98+@==<A@BC[+A7>A9B98+@==<A@BC
S<H<988C+E@=7?T SH7J?7B>?C+!P%T
!P%] &>A>=7?D+I>8C=7?+ Y6X+S=>A>=7?TD+5VX+ X:Z 6
S<H<988C+E@=7?T SH7J?7B>?C+!P%T
!P; !P;Y &>A>=7? YZX V ]5 "7>A9B98+@==<A@BC[+>IH>A@^9B@>A[+J>=G
!P;] &>A>=7? YZX 5 ]5 I87=7AB+9JB@Q9B@>A+S7OJ7IB+!P;_T[+IK9P>G
!P;5 &>A>=7? YWX Y W JCB>H@H[+9AB@F>ECGE7I7AE7AB+J788G
!P;_ &>A>=7? YZX X:Z ]5 =7E@9B7E+JCB>B>O@J@BC[+L77EF9JR+@AK@F@B@>A+
>L+/+J788H
!P. ">A7 &>A>=7? YVX X:XZ ] !==7E@9B7+KCI7?H7AH@B@Q@BC[+E7L7AH7+
9P9@AHB+I9?9H@B7H
!P+`+@==<A>P8>F<8@A:
9!P,+@H+A>B+9+H7J?7B7E+=>87J<87D+F<B+B?9J7+9=><ABH+J9A+F7+L><AE+@A+H7?<=:
-#$)4?( K( &#>3)$( +=( 8),,4( 70*)( N8O4( =+$ "_K(-+(<-(%&-+(0( 608R0')(-7)(4%B)( +=(0 870%&( ,+8%e( 3)80#4)( -7)$)( 0$)( &+( "( 4)'5
M'].( %&8,#2%&'( >+&+89-)4.( &)#-$+67%,4. 8),,?(D7%4(4608)(%4(=0$(-++(4>0,,(=+$(4#=<5 >)&-4( %&( ,%'7-( 870%&( ,+8%.( 0( [`( $0-7)$
)+4%&+67%,4.(&0-#$0,(R%,,)$(H_bJ(8),,4.(0&2 8%)&-( "_K( -+( )&8+2)( 3%,,%+&4( +=( 2%==)$5 -70&(0(["`(8+>6,):(%4(=+$>)2?
E(8),,4?(M'](+64+&%B)4(H8+0-4J(0&-%')&.(0,5 )&-( ,9>67+89-)( $)8)6-+$4( %=( -7)( ')&)4 D7)( 03%,%-9( -+( 4),)8-( +&)( 4)'>)&-
,+1%&'(670'+89-+4%4(+=(-7)(0&-%')&.(0&2 1)$)( )&8+2)2( 4)60$0-),9?( \9>67+89-)4 )087(=$+>(-7)(>0&9(4)'>)&-4(0*0%,03,)
08-%*0-)4( 8+>6,)>)&-?( K&( ):8)6-%+&( %4 70*)( 0206-)2( -+( -7%4( ,%>%-0-%+&( 39( 46)5 %&(-7)([.(".(0&2(`($)'%+&4(,)024(-+(0(*04-
M']Q.( 17%87( 2+)4( &+-( 08-%*0-)( 8+>6,)5 8%0,(>)870&%4>4(-70-(%&8$)04)(39(+$2)$4 %&8$)04)(%&(-7)($)6)$-+%$)(+=(6+44%3,)(0&5
>)&-?( M']( %4( %>6+$-0&-( %&( &)+&0-0,( %>5 +=( >0'&%-#2)( -7)( &#>3)$( +=( 2%==)$)&- -%3+2%)4?( K22%-%+&0,( 2%*)$4%-9( %4( ')&)$5
>#&%-9.(04(%-(%4(-7)(+&,9(M'(8,044(-+(8$+44 6+44%3,)( 0&-%')&( $)8)6-+$4?d( ^087( 8,+&) 0-)2( 39( -7)( /#:-06+4%-%+&( +=( 0( $)0$5
-7)( 6,08)&-0.( 0&2( %-( %4( 4)8$)-)2( %&( 3$)04- +=(E(8),,4(6$+2#8)4(%2)&-%80,(0&-%')&($)5 $0&')2(,%'7-(870%&(-+(0($)0$$0&')2(7)0*9
>%,R?( D7)( %&-)$08-%+&( +=( M']( 1%-7( -7) 8)6-+$4( H%?)?.( 0&-%3+2%)4J( 1%-7( #&%;#) 870%&( 0&2( 39( -7)( 022%-%+&.( 2),)-%+&.( +$
YFG(8,044(M5$),0-)2($)8)6-+$(N8O&(%4(%&5 46)8%<8%-9?(M-(%4()4-%>0-)2(-70-(0&(%&2%*%25 -$0&46+4%-%+&(+=(,)+-%2)4(0-(-7)(/#&85
*+,*)2( %&( -7)( 2),%*)$9( +=( M']( 08$+44( -7) #0,(704(066$+:%>0-),9(@Id(2%==)$)&-(E58),, -%+&4(3)-1))&([(0&2(".("(0&2(`.(0&2([
6,08)&-0(04(1),,(04(%&(6$+,+&'%&'(%-4(,)*), 8,+&)4.($)4#,-%&'(%&(@Id(2%4-%&8-(0&-%3+25 0&2( `( 4)'>)&-4.( 0( 67)&+>)&+&( 80,,)2
%&(-7)(8%$8#,0-%+&?Z(D7)(4)$#>(70,=5,%=)(+= %)4?( K( >0/+$( >)870&%4>( =+$( ')&)$0-%&' 9*+6$%/+!4("%&'20%$,?
M'](%4(CU(2094.(8+&4%2)$03,9(,+&')$(-70& -7%4( )&+$>+#4( 2%*)$4%-9( %4( ')&)( $)0$5
-70-(+=(-7)(+-7)$(M'(8,044)4? $0&')>)&-.(17)$)39(4)'>)&-4(+=("_K
1%-7%&( 0( ,9>67+89-)( #&2)$'+( 4+>0-%8 /G2.$$+&%'1)%'!("
$)8+>3%&0-%+&4?@I( \%'7-( 870%&( ')&)4 E+&)( >0$$+1( 0&2( =)-0,( ,%*)$( 4-)>( 8),,4
!==<A>P8>F<8@A+. 8+&-0%&( -7$))( $)'%+&4.( [( H*0$%03,)J.( ` -70-('%*)($%4)(-+(E(8),,4(0$)(%&%-%0,,9(6,#$%5
M'^( %4( =+#&2( %&( *)$9( 4>0,,( 0>+#&-4( %& H/+%&%&'J.( 0&2( G( H8+&4-0&-J.( 0&2( 7)0*9 6+-)&-?C.@@( D7)( 4-)>( 8),,4( >09( 6$+8))2
-7)( 8%$8#,0-%+&?( F%'750=<&%-9( $)8)6-+$4 870%&( ')&)4( 8+&-0%&( =+#$( $)'%+&4.( [.( " -+(2)*),+6(%&(-7)(,9>67+89-%8(60-7109.
=+$(-7)(N8(6+$-%+&(+=(M'^(0$)(6$)4)&-(+& H2%*)$4%-9J.(`.(0&2(G?(V%-7%&()087($)'%+& 17)$)(-7)9(80&('%*)($%4)(-+(E.(D.(+$(_b
>04-( 8),,4.( 304+67%,4.( 0&2( )+4%&+67%,4. 0$)(>0&9(')&)(4)'>)&-4(=$+>(17%87(-+ 8),,4?(D7)()0$,%)4-(8),,(8+>>%--)2(-+(-7)
0&2( ,+150=<&%-9( $)8)6-+$4( 0$)( 6$)4)&- 4),)8-( =+$( -7)( <&0,( 0&-%3+29( 6$+2#8-. E58),,(,%&)0')(%4(80,,)2(0(#2/5?(6'44?(K-(-7)
+&(E(8),,4(0&2(\0&')$70&4(8),,4?(M&(>04- 17%87( %4( 8+>6$%4)2( +=( +&)( ')&)( 4)'5 6$+5E( 8),,( 4-0').( -7)( 8),,( ):6$)44)4( $)5
8),,4.(304+67%,4.(0&2()+4%&+67%,4.(M'^()&5 >)&-(=$+>()087($)'%+&?(D7)(%&%-%0,()*)&- 8+>3%&0-%+&.(08-%*0-%&'(')&)(0&2(-)$>%5
'0')>)&-( 1%-7( 0&-%')&( 08-%*0-)4( -7) %&( 0&-%3+29( =+$>0-%+&( %4( -7)( /+%&%&'( += &0,( 2)+:9$%3+,)+-%29,( -$0&4=)$04)
8),,4?(M'^(>)2%0-)4(%>>)2%0-)(796)$4)&5 +&)("(0&2(+&)(`(4)'>)&-(=$+>(0(7)0*9 6$+-)%&4.( 17%87( 1%,,( 3)( &))2)2( 4#34)5
4%-%*%-9.( 3#-( %-4( 6$%&8%60,( 6$+-)8-%*)( $+,) 870%&(')&).(1%-7(4#34);#)&-(2),)-%+&(+= ;#)&-,9( =+$( 4+>0-%8( $)8+>3%&0-%+&( 0&2
>09(3)(-+(8+>30-(60$04%-)4? -7)( "_K( 3)-1))&( -7)( -1+( 4)'>)&-4? ,)+4%2)( -$0&4=)$4( %&*+,*)2( %&( /#&85
_):-.(0([(4)'>)&-(%4(4),)8-)2(-+(/+%&(-+ -%+&0,(2%*)$4%-9.($)46)8-%*),9?(K-(-7)(6$+5
-7)( "`( 4)'>)&-.( 0&2( 0&9( $)>0%&%&'( " E58),,(4-0').(,%>%-)2(4+>0-%8($)8+>3%&05
&.20%"!-&-+#()+'0.+ 4)'>)&-4(0$)(2),)-)2?(D7)(["`(8+>6,): -%+&( 704( -0R)&( 6,08).( 0&2( M'( %4( &+-( 9)-
;.".)%'!("+(#+ 704(0--087)2(U (-+(%-(0&9($)>0%&%&'(`(4)'5 ):6$)44)2?
%"'!/(,*+,!3.)-!'* >)&-4( 6,#4( -7)( G( $)'%+&?( D7)( #)2( ` D7)(&):-(4-0')(+=(E58),,(>0-#$0-%+&(%4
D7)(%&=+$>0-%+&()&8+2)2(39(0&(%&2%*%25 4)'>)&-4(0$)($)>+*)2(2#$%&'(O_K(6$+5 $)6$)4)&-)2( 39( -7)( #2'5?( 6'44( 0&2( %4
#0,c4("_K(%4(,%>%-)2(39(-7)(&))2(=+$(-7) 8)44%&'?(K(4%>%,0$(6$+8)44(+88#$4(%&(,%'7- >0$R)2( 39( -7)( 49&-7)4%4( +=( 0( 89-+6,045
!5"
0&-%')&4(0&2(0&-%3+2%)4(=+$>4?(K-(,+1)$
/G2.$$+ K8;#%4%-%+&( +=( -7)( 03%,%-9( -+( ):6$)44
M'"(04(1),,(04(M'Y(%4(-7)(70,,>0$R(+=(-7) +$(7%'7)$(8+&8)&-$0-%+&4(+=(0&-%3+29(+$
0&-%')&.( -7)( 8+>6,):)4( 0$)( >#87
&):-(4-0').(-7)(>0-#$)(E(8),,?(D7)(8),,(%4
&%'1)%'!(" &0%*)(3)80#4)(%-(704( &+-(3))&(08-%*0-)2
39( 0&-%')&.( 3#-( %-( %4( 8+>6)-)&-( -+( $)5
4>0,,)$?( M>>#&)( 8+>6,):)4.( =+$>)2( %&
-7)( 8%$8#,0-%+&( +$( %&( -%44#).( >09( 3)( $)5
%'+%+;$%"2.+ 46+&2(-+(0&-%')&?(Y0-#$)(E(8),,4():%-(-7)
3+&)(>0$$+1(0&2(>%'$0-)(-+(3,++2(0&2
46+&4%3,)(=+$(2%4)04)(-7$+#'7(-7)(%&%-%05
-%+&(+=(0&(%&L0>>0-+$9($)46+&4)?
,9>67+%2(-%44#)4.(17)$)(-7)9(8+&4-%-#-)
-7)(>0/+$%-9(+=(E(8),,4(%&(-7+4)(,+80-%+&4?
D7)()&8+#&-)$(+=(0&-%')&(39(>0-#$)(&05 /G2.$$+%2'!3%'!("+%",+
%*)(E(8),,4(,)024(-+(E58),,(08-%*0-%+&.(6$+,%=5 %"'!/(,*+#1"2'!("
)$0-%+&.(0&2(2%==)$)&-%0-%+&?(K(4#34)-(+=(E a&()&'0')>)&-(+=(-7)(>0-#$)(E58),,($)5
8),,4( 3)8+>)( >)>+$9( E( 8),,4.( 17%87( 0$) 8)6-+$( 39( 0&-%')&.( 8,#4-)$%&'( +=( $)8)65
-7)&( 08-%*0-)2( %=( -7)( 0&-%')&( %4( )&8+#&5 -+$4( %&%-%0-)4( 4%'&0,%&'( -$0&42#8)2( 39( M'
'K7+I?>G/+J788+7OI?7HH7H+7A^C=7H+
-)$)2(4#34);#)&-,9?@Q(K&+-7)$(4#34)-(+=(E ( 0&2( M'( ?( D7)( $)4#,-%&'( 4%'&0,%&'( 8045
A77E7E+L>?+P7A7+?79??9AP7=7AB+9AE+
8),,4( 2%==)$)&-%0-)4( %&-+( 8),,4( -70-( >0R) 802)( )*)&-#0-)4( %&( -7)( ):6$)44%+&( +=
U<AJB@>A98+E@Q7?H@BCD+F<B+A7@BK7?+K79QC+A>?+
6$+'$)44%*),9( ,)44( >)>3$0&)53+#&2( M' ')&)4( %&*+,*)2( %&( E58),,( 08-%*0-%+&?( E5
8@PKB+JK9@AH+9?7+7OI?7HH7E:
0&2(>+$)(4)8$)-)2(M'?(D7)4)(8),,4(80&(#&5 8),,( 08-%*0-%+&( %4( =08%,%-0-)2( 39( 4)8+&2
'K7+I?7G/+J788+7OI?7HH7H+!+K79QC+JK9@AH+ 2)$'+( 8,044( 41%-87%&'( =$+>( M'Y( 0&2( M'" 4%'&0,4.(+&)(+=(17%87(%4(6$+*%2)2(39(-7)
@A+BK7+JCB>I89H=:+(A+BK7+J788+H<?L9J7D+BK7+ -+( M'K.( M'^.( +$( M']?@S( D7)( -)$>%&0,,9( 2%=5 8+>6,)>)&-( 6$+-)%&( GU2?@T( G+>6,)5
K79QC+JK9@AH+9HH>J@9B7+N@BK+H<??>P9B7+ =)$)&-%0-)2( E( 8),,4( 8+>>%--)2( -+(-7)( 6$+5 >)&-(=$0'>)&-(GU2(%4(=+$>)2(04(0($)4#,-
8@PKB+JK9@AH+B>+L>?=+I?7G/+J788+?7J7IB>?H:+ 2#8-%+&(+=(4)8$)-)2(M'(0$)(6,04>0(8),,4(0&2 +=( 8+>6,)>)&-( 08-%*0-%+&( -7$+#'7( 0&9
'K7+@==9B<?7+/+J788+I?>E<J7H+8@PKB+ 70*)(03#&20&-($+#'7()&2+6,04>%8($)-%8#5 +=( -7)( 8+>6,)>)&-( 08-%*0-%+&( 60-75
JK9@AH+9AE+J9A+BK7?7L>?7+7OI?7HH+9AB@G ,#>.( 8+&4%4-)&-( 1%-7( -7)( =#&8-%+&( +=( -7) 1094( H4))(G+>6,)>)&-(A94-)>(,0-)$( %&
F>EC+=>87J<87H+>A+BK7+J788+H<?L9J7:+!L+ 8),,4(04(0&-%3+29(=08-+$%)4? -7%4(8706-)$J?(D7)(E58),,(4#$=08)(8+&-0%&4
9AB@P7A+7OI>H<?7+>JJ<?H+9B+BK@H+HB9P7D+ 0( 8+5$)8)6-+$( 8+>6,):( 8+&4%4-%&'( +=
A7P9B@Q7+H787JB@>A+=9C+B9R7+I89J7: 8+>6,)>)&-( $)8)6-+$( C( HGOCJ.( G"@d.
%"'!;."-+/(1",+/*+/+2.$$- 0&2(G"Z@?(A%>#,-0&)+#4(3%&2%&'(+=(0&5
'K7+=9B<?7+/+J788+7OI?7HH7H+F>BK+@==<G
A>P8>F<8@A+&+9AE+@==<A>P8>F<8@A+,+9AE+ E(8),,4($)8+'&%B)(0(*0$%)-9(+=(>08$+>+,5 -%')&( 39( 0&-%3+29( +&( -7)( E58),,( 4#$=08)
@H+J>=I7B7AB+B>+?7HI>AE+B>+9AB@P7A: )8#,)4.( %&8,#2%&'( 6$+-)%&4.( ,%6%24.( 0&2 0&2( +=( GU2( 39( GOC( ,)024( -+( >0$R)2,9
,)%8(08%24?(D7)(6+$-%+&(+=(-7)(>08$+5 %&8$)04)2(E58),,(08-%*0-%+&?
>+,)8#,)($)8+'&%B)2(39(-7)(0&-%3+29(%4 D7)( 4#34);#)&-( $)46+&4)( -+( 0&( 0&-%5
>%8(!(7)0*9(870%&?(E)80#4)(,%'7-(870%&4 80,,)2( 0&( '#%$/#'( +$( "'$'2)%+!+$?( E( 8),,4 ')&( +=-)&( %&*+,*)4( 0( 8+>6,):( %&-)$085
0$)(&+-(9)-( ):6$)44)2(0-( -7%4(4-0').( 4#$5 $)8+'&%B)(3+-7(,%&)0$()6%-+6)4(H)6%-+6)4 -%+&(3)-1))&(E(8),,4(0&2(D(8),,4.(,)02%&'
=08)( M'( %4( &+-( 6$)4)&-?( A+>)( +=( -7)( ! =+$>)2(39(4)*)$0,(02/08)&-(0>%&+(08%24J -+( 0( <&)5-#&%&'( +=( -7)( %>>#&)( $)5
7)0*9( 870%&4( 044+8%0-)( 1%-7( %&*0$%0&- 0&2.( ;#%-)( 8+>>+&,9.( 8+&=+$>0-%+&0, 46+&4)?@Z(E(8),,4(0$)(80603,)(+=(=#&8-%+&5
>+,)8#,)4( 80,,)2( 0*22/.!$'( 4%.1$( 61!%+0( -+ )6%-+6)4(H)6%-+6)4(6$)4)&-(04(0($)4#,-(+= %&'( 04( 0&-%')&56$)4)&-%&'( 8),,4?( M&( 0( $)5
=+$>( 8+>6,):)4( 80,,)2( #2'5?( 6'44( 2'6'#5 =+,2%&'(+=(-7)(>08$+>+,)8#,)J?@!(M&(8+&5 46+&4)(-+(0(6$+-)%&(0&-%')&.(E(8),,4(-0R)
$/20?(D7)4)($)8)6-+$4(0$)(-7)&():6$)44)2 -$04-( -+( E( 8),,4.( D58),,( $)46+&4)4( 0$)( 0,5 #6( -7)( 0&-%')&.( 6$+8)44( %-.( 0&2( 6$)4)&-
+&(-7)(6$)5E(8),,(4#$=08)(0&2(6$+*%2)(%>5 >+4-( )&-%$),9( $)4-$%8-)2( -+( ,%&)0$( )6%5 6)6-%2)P8,044( MM( YFG( 8+>6,):)4( -+
6+$-0&-(4%'&0,4(=+$(-7)(6$+,%=)$0-%+&(0&2 -+6)4(+=(6)6-%2)4? G"Qf( D( 8),,4?( D( 8),,4( $)8+'&%B%&'( -7)
>0-#$0-%+&(+=(-7)(2)*),+6%&'(E(8),,? Y08$+>+,)8#,)4.(60$-%8#,0$,9(,0$')(6$+5 6)6-%2)P8,044( MM( YFG( 8+>6,):)4( $)5
D7)( =+$>0-%+&( +=( ,%'7-( 870%&4( >0$R4 -)%&4.( >09( 8+&-0%&( 4)*)$0,( 2%==)$)&-( )6%5 8)%*)(0(6$%>0$9(4%'&0,(=$+>(-7)(8+>6,):
-7)( &):-( 4-0')( %&( E58),,( >0-#$0-%+&.( -7) -+6)4.(0&2(0(7#>+$0,($)46+&4)(-+(0(>085 0&2(0(4)8+&20$9(4%'&0,(=$+>(8+54-%>#,05
%>>0-#$)( E( 8),,?( V7)&( ,%'7-( 870%&4( /+%& $+>+,)8#,)( -96%80,,9( %4( 8+>6$%4)2( += -+$9(%&-)$08-%+&4.(&+-03,9(3%&2%&'(+=(ET5
1%-7( -7)( !( 7)0*9( 870%&4.( 0&( M'Y( >+,)5 >#,-%6,)( 2%==)$)&-( 0&-%3+2%)4?( K,-7+#'7 @( 0&2( ET5C( +&( E( 8),,4( -+( G"CZ( +&( D
8#,)($)4#,-4(0&2(80&(3)():6$)44)2(+&(-7) )087( 2%==)$)&-( 0&-%3+29( %4( 46)8%<8( =+$( 0 8),,4?@d( D7)4)( D( 8),,4( 0$)( 08-%*0-)2.( 0&2
8),,(4#$=08)?(D7)(89-+6,04>%8(-0%,4(+=(M'Y '%*)&( )6%-+6%8( 8+&<'#$0-%+&.( 4%>%,0$%-%)4 -7)%$(08-%*0-%+&.(%&(-#$&.(6$+*%2)4(4%'&0,4
>+,)8#,)4(0$)(-++(47+$-(-+(-$0&42#8)(4%'5 %&( )6%-+6)4( >09( ):%4-( 4#87( -70-( 0&( 0&-%5 -+(-7)(E(8),,4(-7$+#'7(-7)(08-%+&4(+=(8),,
&0,4?(A%'&0,(-$0&42#8-%+&(%4($0-7)$(0(=#&85 3+29(-+(0('%*)&()6%-+6)(+&(0('%*)&(>08$+5 4#$=08)( >+,)8#,)4( H%&( 60$-%8#,0$.( G"QI
-%+&( +=( -1+( +-7)$( >+,)8#,)4.( 80,,)2( M'( >+,)8#,)(0,4+(>09(3)(03,)(-+(3%&2(0(2%==)$5 +&( E( 8),,4( 0&2( G"QI( ,%'0&2( +&( D( 8),,4J
0&2(M'( .(044+8%0-)2(1%-7(M'Y(%&(0(E58),, )&-()6%-+6)(+&(0(2%==)$)&-(>08$+>+,)8#,)? 0&2( 89-+R%&)4( g)?'?.( %&-)$,)#R%&( C( HM\5CJ.
$)8)6-+$(8+>6,):(+&(-7)(8),,(4#$=08)?(K,5 D7%4(67)&+>)&+&(%4(80,,)2(62/0052'!6$%&%$,. M\5Q.(M\5S.(0&2(M\5!h?C(D7)(+*)$0,,()==)8-4
-7+#'7( -7)( 6$)4)&8)( +=( 0( E58),,( $)8)6-+$ 0&2( >09( 3)( %>6+$-0&-( %&( -7)( ')&)4%4( += +&( E( 8),,4( 0$)( 08-%*0-%+&.( 6$+,%=)$0-%+&.
8+>6,):(8+&=)$4(-7)(03%,%-9(-+($)8+'&%B) 0#-+%>>#&)(0&-%3+29($)46+&4)4? 0&2(2%==)$)&-%0-%+&?
46)8%<8(0&-%')&4.(0-(-7%4(4-0')(4#87($)8+'5 Y08$+>+,)8#,)4( -70-( 70*)( >#,-%6,) G,044(41%-87%&'(=$+>(M'Y(-+(M'K.(M'^.
&%-%+&( 2+)4( &+-( $)4#,-( %&( 6$+,%=)$0-%+&( +$ %2)&-%80,()6%-+6)4(0$)(8,044%<)2(04(3)%&' +$(M'](+88#$4(04(0($)4#,-(+=(D(8),,PE(8),,
2%==)$)&-%0-%+&?(O0-7)$.(-7)(8),,4(>09(#&5 6+,9*0,)&-(+$(>#,-%*0,)&-?(K&-%3+2%)4(-+ %&-)$08-%+&4?@S.CI( D7)( 2)-)$>%&0-%+&( +=
2)$'+(&)'0-%*)(4),)8-%+&(17)&(0&-%')&(%4 -7)4)( >08$+>+,)8#,)4( +$( 0''$)'0-)4( += -7)( 0&-%3+29( 8,044( 4),)8-)2( %4( 304)2( +&
)&8+#&-)$)2?(M>>0-#$)(E(8),,4($)8+'&%B5 >08$+>+,)8#,)4( >09( =+$>( 8+>6,):)4 -7)( ,+80-%+&( 0&2( 89-+R%&)( >%,%)#( %&
%&'( 4),=50&-%')&( >09( 3)( 2),)-)2( -7$+#'7 80,,)2( %))*+'( 6/)#4'@'0( 1%-7( -7)( 0&-%5 17%87(-7)(%&-)$08-%+&(+88#$4?(N+$():0>5
06+6-+4%4@C(+$(>09(#&2)$'+($)8)6-+$()25 ')&?(K-(0(60$-%8#,0$(8+&8)&-$0-%+&(+=(0&5 6,).(E58),,($)46+&4)4(-+(0&-%')&4()&8+#&5
%-%&'.(0(6$+8)44(39(17%87(0(&)1.(&+&4),= -%3+29( 0&2( 0&-%')&.( 80,,)2( -7)( B+&)( += -)$)2( +&( >#8+40,(4#$=08)4( 870$08-)$%4-%5
46)8%<8%-9(%4(08;#%$)2?@U );#%*0,)&8).( 0( ,0$')( &)-1+$R( +=( ,%&R)2 80,,9( $)4#,-( %&( 8,044( 41%-87%&'( -+( M'K.
!55
60-71094?( E58),,( ,9>67+>04( >09( $)4#,-
/G2.$$+ K4( &+-)2( %&( -7)( 4)8-%+&( K&-%')&4
E+#&2( 39( E( G),,4.( D58),,( $)46+&4)4( 0$) =$+>(=0%,#$)(-+($)'#,0-)(6$+,%=)$0-%+&.(2%=5
,%>%-)2( 0,>+4-( )&-%$),9( -+( 6)6-%2)4? =)$)&-%0-%+&.( +$( 6$+'$0>>)2( 8),,( 2)0-7?
%2'!3%'!("+ D7#4.( E58),,( $)46+&4)4( -+( &+&56$+-)%&
0&-%')&4( >09( &+-( $)4#,-( %&( D58),,( 7),6
K&-%3+2%)4(>09(%&%-%0-)(0&(%&L0>>0-+$9
$)46+&4)( -70-( $)4#,-4( %&( %&/#$9.( 04(%&( M'^5
%",+%"'!/(,*+ -7$+#'7( -7)( >)870&%4>4( 2)48$%3)2( )0$5
,%)$?CQ( a&)( -96)( +=( D58),,P%&2)6)&2)&-
>)2%0-)2( 0,,)$'%8( $)08-%+&4( +$( %>>#&)5
8+>6,):(2%4)04)4?(M&(4+>)(804)4.(-7)(0&5
#1"2'!(" E58),,($)46+&4)(6$+2#8)4(4+580,,)2(+!$*5
2!4( !+$%3/"%'0jM'Y( 0&-%3+2%)4( -70-( 0$)
-%')&(>09(&+-(3)(+3*%+#4,9(70$>=#,.(3#-
-7)( $)46+&4)( -+( -7)( 0&-%')&( %4?( M&( +-7)$
%'+%+;$%"2.+ ,0$'),9(0&-%80$3+792$0-)(0&-%3+2%)4(6$+5
2#8)2( 1%-7+#-( 0660$)&-( 0&-%')&( ):6+5
4#$)?CS( D7)4)( &0-#$0,( 0&-%3+2%)4( 0$)
804)4.( -7)( 0&-%')&( >09( 3)( 60-7+')&%8.
3#-(-7)(870$08-)$(+$(>0'&%-#2)(+=(-7)(%>5
>#&)($)46+&4)(%4(%&066$+6$%0-)(+$(%&02)5
870$08-)$%B)2( 39( 0( ,%>%-)2( $)6)$-+%$) ;#0-),9( 8+&-$+,,)2?( D7)( $)'#,0-+$9( 4945
0&2(0$)(6$+2#8)2(39(E@(6)$%-+&)0,(8),,4 -)>4( -70-( 6$+-)8-( 0&( +$'0&%4>( =$+>
)%-7)$( 46+&-0&)+#4,9( +$( %&( $)46+&4)( -+ 0--08R(39(%-4(+1&( %>>#&)(494-)>(+8805
308-)$%0(-70-(8+,+&%B)(-7)('#-? 4%+&0,,9( =0%,?( M&( 4+>)( 804)4.( 0#-+%>>#5
K&-%')&(+88#60-%+&(+=(0&-%3+2953%&25 &%-9(>09(3)(%&%-%0-)2(04(0($)4#,-(+=(0&(%>5
%&'( 4%-)4( ,)024( -+( =#&8-%+&0,( $)4#,-4. >#&)( $)46+&4)( -+( 0( 60-7+')&?( D7)
aK7A+BK7+/GJ788+?7J7IB>?+SH<?L9J7+9AB@G 80,,)2( '=='6$/2( =*+6$%/+0?( V%-7( -7)( ):8)65 60-7+')&( >09( 08-( 04( 0( &+&546)8%<8( 08-%5
F>ECT+F@AEH+9AB@P7AD+9+H7J>AE+H@PA98+I?>G -%+&( +=( 2%$)8-( &)#-$0,%B0-%+&( +=( 0&-%')& *0-+$(+=(-7)(%>>#&)(494-)>.(+$(>09(08-%5
Q@E7E+FC+25E+7AP9P7=7AB+N@BK+J>=I87G 39( 0&-%3+29( 3%&2%&'.( )==)8-+$( =#&8-%+&4 *0-)( -7)( %>>#&)( $)46+&4)( 46)8%<80,,9
=7AB+?7J7IB>?+]+H@PA@MJ9AB8C+9<P=7ABH+ 0$)( -96%80,,9( >)2%0-)2( -7$+#'7( -7) H)?'?.( 39( 8+&-0%&%&'( 0&( )6%-+6)( +$( )6%5
/GJ788+9JB@Q9B@>A: 3%&2%&'(+=(M'(-+(N8O4?C!.CT(N8O4(')&)$0,,9 -+6)4( -70-(0$)(8$+445$)08-%*)(1%-7( 0&(0#5
/GJ788+?7HI>AH7H+B>+I?>B7@A+9AB@P7AH+BCI@G 0$)( 2%*%2)2( %&-+( -7+4)( -70-( -$%'')$( 8),, -+)6%-+6)J?(D7)4)($)46+&4)4(>09(3)(60$5
J988C+@AQ>8Q7+'GJ788+K78ID+N@BK+?7H<8B9AB+ 08-%*0-%+&(0&2(-7+4)(-70-(2+(&+-?(D7+4) -%8#,0$,9( 2%=<8#,-( -+( 8+&-$+,( 3)80#4)( -7)
9AB@F>EC+J89HH+HN@BJK@AP+9AE+9LMA@BC+ -70-( 80&( -$%'')$( 08-%*0-%+&( 8+&-0%&( +&) >0/+$(4-%>#,#4(=+$(-7)(%>>#&)($)46+&4).
=9B<?9B@>A: +$(>+$)(>+-%=4(80,,)2(%))*+/2'6'#$/2($,5 -7)( 0&-%')&.( %4( 0( &+$>0,( 8+>6+&)&-( +=
.LL7JB>?+L<AJB@>AH+>L+9AB@F>E@7H+@AJ8<E7+ 2/0%+'53!0'"( !6$%&!$%/+( )/$%=0?( a=( -7+4) W4),=X( 0&2( 80&&+-( 3)( ),%>%&0-)2?( D7#4.
A7<B?98@^9B@>A+>L+9AB@P7AD+J>=I87=7AB+9JB@G -70-(2+(&+-(-$%'')$(08-%*0-%+&.(4+>)(80& -7$+#'7( >0&9( >)870&%4>4.( -7)( &+$>0,
Q9B@>AD+J788+9JB@Q9B@>AD+IK9P>JCB>H@HD+9AE+ %&7%3%-(8),,(08-%*0-%+&(0&2(8+&-0%&(0(>+5 6$+-)8-%*)( E58),,( $)46+&4).( 17%87( 2)*),5
9AB@F>ECGE7I7AE7ABD+J788G=7E@9B7E+JCB>G -%=(80,,)2(%))*+/2'6'#$/2($,2/0%+'53!0'"(%+5 +6)2(04(0&(),)'0&-(>)0&4(-+(2%48$%>%&0-)
B>O@J@BC:+&>HB+>L+BK7H7+9?7+=7E@9B7E+ 1%3%$%/+( )/$%=?( N8O4( -70-( &)%-7)$( 08-%*0-) *)$9( <&),9( 0>+&'( *0$%+#4( 6+-)&-%0,
BK?><PK+BK7+F@AE@AP+>L+@==<A>P8>F<8@A+S!PT+ &+$(%&7%3%-(8),,(08-%*0-%+&(0$)(%&*+,*)2(%& 60-7+')&4.( 80&( 3)( 4#3*)$-)2( -+( $)4#,-( %&
B>+#J+?7J7IB>?H+J>AB9@A@AP+9A+@==<A>?7G -7)(-$0&46+$-(+=(M'(-7$+#'7()6%-7),%0(0&2 70$>(-+(-7)(+$'0&%4>?
J7IB>?+BC?>H@A7GF9H7E+9JB@Q9B@>A+=>B@L: -7)(6$+,+&'0-%+&(+=(-7)(70,=5,%=)(+=(M']?
D7)( )==)8-+$( =#&8-%+&4( +=( 0&-%3+2%)4
"7P9B@Q7+H@PA98@AP+B>+/+J788H+@H+I?>Q@E7E+ 4)$*)(-+(),%>%&0-)(-7)(0&-%')&(-70-(%&%-%5 2(&4$.&."'+-*-'.&
FC+F@AE@AP+>L+!P;+B>+9+/GJ788+#J+?7J7IB>?+ 0-)2( -7)( %>>#&)( $)46+&4)( 0&2( 0,4+( -+ D7)(8+>6,)>)&-(494-)>(104(2%48+*)$)2
BK9B+J>AB9@AH+9A+@==<A>?7J7IB>?+ 2+1&$)'#,0-)( -7)( %>>#&)( $)46+&4) -7$+#'7( %-4( 03%,%-9( -+( 8+&-$%3#-)( -+.( +$
BC?>H@A7GF9H7E+@AK@F@B@>A+=>B@L:+'K7+9Q9@8G 17)&( 08-%*0-%+&(%4( &+-( $);#%$)2?( ^==)85 W8+>6,)>)&-.X(308-)$%0,(8),,(,94%4(39(0&-%5
9F@8@BC+>L+7OJ7HH+!P;+B>+F@AE+BK@H+?7J7IB>?+ -+$(=#&8-%+&4(+=(0&-%3+2%)4(%&8,#2)(&)#5 3+2%)4?US.U!( K-( 6794%+,+'%8( -)>6)$0-#$)4.
@H+9A+@AE@J9B@>A+BK9B+9AB@P7A+@H+F7@AP+H<JG -$0,%B0-%+&( +=( 0&-%')&.( 8+>6,)>)&-( 085 4)$#>(8+&-0%&%&'(0&-%308-)$%0,(0&-%3+2%)4
J7HHL<88C+78@=@A9B7E+9AE+BK7+@==<A7+ -%*0-%+&.( 8),,( 08-%*0-%+&( H+=( >+&+89-)4. ,94)2(308-)$%0()==)8-%*),9.(17)$)04(4)$#>
?7HI>AH7+@H+A>+8>AP7?+?7b<@?7E: &)#-$+67%,4.( )+4%&+67%,4.( 0&2( E( 8),,4J. 7)0-)2( -+( S!kG( H@UUkNJ( ,+4-( %-4( 03%,%-9( -+
670'+89-+4%4( H39( >+&+89-)4( 0&2( &)#5 ,94)( 308-)$%0?( E)80#4)( 0&-%3+2%)4( 0$)
0&2( -$0&4=+$>%&'( '$+1-7( =08-+$5 ( %4( 0& -$+67%,4J.(0&2(0&-%3+2952)6)&2)&-(8),,5 ;#%-)(4-03,)(0-(S!kG(H@UUkNJ.(%-(104(6+4-#5
%>6+$-0&-(8+&-$%3#-%&'(89-+R%&)? >)2%0-)2(89-+-+:%8%-9(H>)2%0-)2(39(_b ,0-)2(-70-(-7)(,+44(+=(,9-%8(03%,%-9(104(2#)
D58),,(%&-)$08-%+&(1%-7(E(8),,4(0,4+($)5 8),,4( 0&2( )+4%&+67%,4J?( M&( 022%-%+&.( )&5 -+( -7)( 2)'$020-%+&( +=( 7)0-5,03%,)( &+&5
4#,-4( %&( 0=<&%-9( >0-#$0-%+&.( 17)$)39 '0')>)&-( +=( M']( 39( 0&-%')&( 6$+*%2)4( 0 0&-%3+29(>+,)8#,)4?
-7)(0=<&%-9(+=(0&-%3+2%)4(=+$(-7)(0&-%')& &)'0-%*)( 4%'&0,( -+( E( 8),,4.( >)2%0-)2 K,-7+#'7(-7)(8+>6,)>)&-(494-)>(104
6$+'$)44%*),9( %&8$)04)4?( "#$%&'( 0=<&%-9 -7$+#'7(-7)(3%&2%&'(+=(-7)(0&-%')&50&-%5 <$4-(%2)&-%<)2(-7$+#'7(%-4($+,)(%&(7#>+$0,
>0-#$0-%+&.(4+>0-%8(796)$>#-0-%+&4(%& 3+29( 8+>6,):( -+( 0&( %>>#&+$)8)6-+$ %>>#&%-9.( %-( )*+,*)2( $0-7)$( )0$,9( 04( 0
0&-%3+29( ')&)4( $)4#,-( %&( 0&-%3+2%)4 -9$+4%&)5304)2(%&7%3%-%+&(>+-%=58+&-0%&5 8+>6+&)&-( +=( %&&0-)( %>>#&%-9( H4))
1%-7(3+-7('$)0-)$(0&2(,)44)$(0=<&%-9(=+$ %&'(N8 ($)8)6-+$.(N8 MME.(+&(-7)(E(8),,?CZ G706?( @IJ( 0&2( 704( >#,-%6,)( =#&8-%+&4( %&
-7)( 0&-%')&?C@.CC( D7+4)( 0&-%3+2%)4( 1%-7 %>>#&)( 2)=)&4)?( D7)( 8+>6,)>)&-( 4945
'$)0-)$(0=<&%-9(8+&=)$(0( 4#$*%*0,( 02*0&5 -)>( %4( 8+&4-%-#-)2( %&( 60$-( 39( 0( 4)-( +=
-0')( +&( -7)( E( 8),,4( -70-( 6$+2#8)( -7)>? /+2.$$-+%",+%"'!/(,!.-+ 6,04>0( 6$+-)%&4( -70-( 0$)( &+$>0,,9( %&085
i$+'$)44%*),9.( -7)( 6+6#,0-%+&( +=( E( 8),,4 !"+,!-.%-. -%*)( +$( >%&%>0,,9( 08-%*)?C( D7)( %&%-%0,
)*+,*)4( %&( =0*+$( +=( -7+4)( 6$+2#8%&' "%4+$2)$4(+=(E(8),,4(+$(0&-%3+2%)4(80#4)(+$ 4-)64( +=( 08-%*0-%+&( %&*+,*)( -7)( 8,)0*0')
7%'7)$50=<&%-9( 0&-%3+2%)4( =+$( -7)( 0&-%5 8+&-$%3#-)(-+(>0&9(2%4)04)4(+=(2)$>0-+5 +=(0&(%&08-%*)(6$+-)%&(%&-+(0(4>0,,)$(0&2(0
')&?( E+-7( 8,044( 41%-87%&'( 0&2( 0=<&%-9 ,+'%8( $),)*0&8)?CdPUQ( M>>#&+2)<8%)&89 ,0$')$( =$0'>)&-?( D7)( ,0$')$( =$0'>)&-.
>0-#$0-%+&($);#%$)(-7)():6$)44%+&(+=(0& 2%4)04)4( >09( $)4#,-( =$+>( 03&+$>0,%-%)4 -7)&.(%4(%-4),=(03,)(-+(8,)0*)(+-7)$(6$+-)%&4
)&B9>)( 80,,)2( !6$%&!$%/+5%+"*6'"( 6,$/0%+' +=( E58),,( 2)*),+6>)&-( +$( 08-%*0-%+&( +$ %&(-7)(804802)?(E)80#4)(0&(08-%*0-)2(>+,5
"'!)%+!0'?CU =$+>( 03&+$>0,%-%)4( %&( )==)8-+$( =#&8-%+& )8#,)(%&(+&)(4-)6(%4(80603,)(+=(')&)$0-%&'
!5!
7,89:;+!<=5 'K7+ 98B7?A9B@Q7+ I9BKG
N9C+ >L+ J>=I87=7AB+ 9JB@Q9B@>A:+ -K>NA
9?7+BK7+HB7IH+L?>=+BK7+@A@B@98+9BB9JK=7AB
>L+ 25F+ B>+ 9+ =@J?>F@98+ J788+ H<?L9J7
BK?><PK+BK7+J879Q9P7+>L+2Z+@AB>+2Z9+9AE
2ZF:+'K7+MA98+HB7IH+>L+J>=I87=7AB+9JB@G
Q9B@>A+9?7+HK>NA+@A+#@P:+56G_:+-77+%8B7?G
A9B@Q7+49BKN9C+L>?+E7B9@8H:
!5#
0#-+%>>#&)( #$-%80$%0( HQS( 6)$8)&-J( 0&2
20%4'.)+5W 87$+&%8( %2%+60-7%8( #$-%80$%0( HSS( 6)$8)&-J. 1)'!2%)!%+%",+
17%87( 70*)( 0( 8+>3%&)2( %&8%2)&8)( %&( -7)
9(/.B)(.)+)-1+ ')&)$0,(6+6#,0-%+&(+=(I?S(6)$8)&-?C(i794%5
80,,9( %&2#8)2( #$-%80$%0m0&'%+)2)>0( %4( &+-
%";!(.,.&%
C-D.'414&) %&8,#2)2(%&(-7)(2)<&%-%+&?([0$%+#4(-96)4(+=
6794%80,(#$-%80$%0m0&'%+)2)>0(>09(,04-(=+$
%'+%+;$%"2.+
9)0$4.(3#-(-7)(%&2%*%2#0,(,)4%+&4(,04-(=)1)$
%887A+4:+e9I89A -70&( C( 7+#$4( H):8)6-( %&( 2),09)2( 6$)44#$)
#$-%80$%0J(0&2(0$)(%&-)$>%--)&-?(V7)$)04(ZS
6)$8)&-(+=(87%,2$)&():6)$%)&8)(#$-%80$%0(%&
K2$%6!2%!(%4(2)<&)2(04(0(4R%&(,)4%+&(8+&4%4-5 -7)(034)&8)(+=(0&'%+)2)>0.(QI(6)$8)&-(+=
%&'(+=(0(17)0,50&25L0$)($)08-%+&(%&(17%87 02#,-(60-%)&-4(1%-7(#$-%80$%0(0,4+():6)5
,+80,%B)2(%&-$08#-0&)+#4()2)>0(H17)0,J(%4 $%)&8)(0&'%+)2)>0?
4#$$+#&2)2( 39( 0&( 0$)0( +=( $)2&)44( H)$95 (JJ<?H+9J<B78C+9B+H>=7+B@=7+@A+]X+I7?G
K66$+:%>0-),9( SI( 6)$8)&-( +=( 60-%)&-4
-7)>0J( -70-( %4( -96%80,,9( 6$#$%-%8?( M&2%*%25 J7AB+>L+BK7+I>I<89B@>A[+@AJ@E7AJ7+>L+
1%-7( 87$+&%8( #$-%80$%0( H1%-7( +$( 1%-7+#-
#0,( 7%*)4( 80&( ,04-( =$+>( 04( 3$%)L9( 04( UI JK?>A@J+<?B@J9?@9f9AP@>7E7=9+@H+9II?>O@G
0&'%+)2)>0J(0$)(=$))(+=(,)4%+&4(1%-7%&(@
>%&#-)4(-+(04(,+&'(04(U!(7+#$4?(D7)9(80& =9B78C+X:Z+I7?J7AB:
9)0$.( !S( 6)$8)&-( 1%-7%&( U( 9)0$4.( 0&2( ZS
3)(04(4>0,,(04(0(>%,,%>)-)$(+$(!(-+(Z(%&87)4 6)$8)&-(1%-7%&(S(9)0$4e(=)1)$(-70&(S(6)$5 %J<B7+<?B@J9?@9f9AP@>7E7=9+@H+J9<H7E+FC+
%&(2%0>)-)$(H'%0&-(#$-%80$%0J?(D7)9(3,0&87 8)&-(70*)(,)4%+&4(-70-(,04-(=+$(>+$)(-70& E?<PHD+L>>EHD+>JJ9H@>A988C+@AL7JB@>A+@A+
1%-7(6$)44#$)(04(-7)(2%,0-)2(3,++2(*)44),4 @I( 9)0$4?( K&'%+)2)>0( 0,-)$4( -7)( &0-#$0, 9HH>J@9B@>A+N@BK+@==<A>P8>F<8@A+.d
0$)(8+>6$)44)2.(17%87(0,4+(088+#&-4(=+$ 7%4-+$9.( 0&2( +&,9( CS( 6)$8)&-( +=( 60-%)&-4 E7I7AE7AB+=7JK9A@H=H+S9887?PCTD+>?+=7BG
-7)( 8)&-$0,( 60,,+$( +=( -7)( 17)0,?( D7)( 2%5 17+( 0,4+( 70*)( 0&'%+)2)>0( ):6)$%)&8) 9F>8@J+L9JB>?H:
,0-)2(3,++2(*)44),4(0&2(%&8$)04)2(6)$>)5 $)4+,#-%+&(+=(,)4%+&4(1%-7%&(@(9)0$?(D7)$) 2K?>A@J+<?B@J9?@9f9AP@>7E7=9+@H+9A+9<B>G
03%,%-9( -70-( 870$08-)$%B)( #$-%80$%0( 0$) 0$)( &+(20-0( $)'0$2%&'( -7)($)>%44%+&( $0-) @==<A7+E@H>?E7?+@A+_Z+I7?J7AB+>L+I9B@7ABH:
6$)4)&-( %&( -7)( 4#6)$<8%0,( 2)$>%4( 0&2( %&5 %&( 60-%)&-4( 1%-7( +&,9( 0&'%+)2)>0?( D7) !A+BK7+9FH7AJ7+>L+<?B@J9?@9D+9AP@>7E7=9+
*+,*)(-7)(*)&#,0$(6,):#4(%&(-70-(,+80-%+&? 7)$)2%-0$9( '$+#6( +=( 2%4+$2)$4( %4( 8+&4%25 J9A+F7+E<7+B>+>Q7?I?>E<JB@>A+>?+@=I9@?7E+
K&'%+)2)>0(80&( 3)( 80#4)2( 39( -7)( 40>) )$)2(-+(3)(,%=),+&'(+&8)(-7)(2%0'&+4%4(3)5 F?79RE>NA+>L+F?9ECR@A@A:
60-7+')&%8( >)870&%4>4( 04( #$-%80$%0.( 3#- 8+>)4(8,%&%80,,9(>0&%=)4-?
-7)( 60-7+,+'9( %4( %&( -7)( 2))6( 2)$>%4( 0&2 '?79B=7AB+>L+9J<B7+<?B@J9?@9f9AP@>7E7=9+
4#38#-0&)+#4( -%44#)( 0&2( 41),,%&'( %4( -7) ?78@7H+>A+9AB@K@HB9=@A7H+9AE+HK>?B+
>0/+$( >0&%=)4-0-%+&?( D7)( +*)$,9%&'( 4R%& 4%'0(;.".-!- J><?H7H+>L+J>?B@J>HB7?>@EHD+9AE+@E7AB@MJ9G
>09(3)()$9-7)>0-+#4(+$(&+$>0,?(D7)$)(%4 B@>A+9AE+78@=@A9B@>A+>L+7AE>P7A><H+9AE+
&9HB+2788+9AE+0@HB9=@A7+)7879H7 7O>P7A><H+J9<H7H:
,)44(6$#$%-#4(H=)1)$(-96)(G(&)$*)()&2%&'4
0-(-7)(2))6)$(8#-0&)+#4( ,)*),4J.(3#-( 60%& D7)(>04-(8),,(%4(-7)(>0/+$()==)8-+$(8),,(%& '?79B=7AB+>L+2Y+@AK@F@B>?+E7MJ@7AJC+
+$(3#$&%&'(>09(3)(6$)4)&-? >+4-(=+$>4(+=(#$-%80$%0(0&2(0&'%+)2)>0. @AJ8<E7H+9AE?>P7A@J+9P7ABHD+9AB@MF?@A>8CB@J+
0,-7+#'7( +-7)$( 8),,( -96)4( #&2+#3-)2,9 9P7ABHD+9AE+2Y+@AK@F@B>?+S2Y+!"0T+J>AJ7AG
8+&-$%3#-)?( G#-0&)+#4( >04-( 8),,4( 027)$) B?9B7H:+#?7HK+L?>^7A+I89H=9+9AE+2Y+!"0+
.4!,.&!($(;* -+( <3$+&)8-%&( 0&2( ,0>%&%&( -7$+#'7( -7) J>AJ7AB?9B7+J9A+9F>?B+9J<B7+7I@H>E7H:
o$-%80$%0( 0&2( 0&'%+)2)>0( 0$)( 8+>>+&? *)$9( ,0-)( 08-%*0-%+&( H[\KJ( @( %&-)'$%&4 '?79B=7AB+>L+IKCH@J98+<?B@J9?@9f9AP@>7E7=9+
K').($08).(4):.(+88#60-%+&.(')+'$067%8(,+5 [\K5U.( [\K5Q.( 0&2( [\K5S( 0&2( -+( *%-5 @AJ8<E7H+K@PKGE>H7+9AB@K@HB9=@A7+I?>IKCG
80-%+&.(0&2(4)04+&(+=(-7)(9)0$(80&(3)(%>5 $+&)8-%&(-7$+#'7(-7)( * U(%&-)'$%&?(G#-05 89O@HD+7OJ7IB+L>?+E789C7EGI?7HH<?7+<?B@J9?@9:
6,%80-)2(%&(#$-%80$%0(0&2(0&'%+)2)>0(+&,9 &)+#4( >04-( 8),,4.( 3#-( &+-( -7+4)( =$+>
%&4+=0$( 04( -7)9( >09( 8+&-$%3#-)( -+( ):6+5 +-7)$(4%-)4.($),)04)(7%4-0>%&)(%&($)46+&4) '?79B=7AB+>L+JK?>A@J+@E@>I9BK@J+>?+9<B>@=G
4#$)( -+( 0&( ),%8%-%&'( 0')&-?( a=( 0( '$+#6( += -+(8+>6+#&2(QZmZI.(GS0.(>+$67%&).(0&2 =<A7+<?B@J9?@9f9AP@>7E7=9+@AJ8<E7H+9AB@G
8+,,)')(4-#2)&-4.(@S(6)$8)&-(-+(CI(6)$8)&- 8+2)%&)?( D7)( &)#$+6)6-%2)4( 4#34-0&8)( i K@HB9=@A7H+SA>AGH7E9B@AP+9AE+H7E9B@AP+
$)6+$-)2( 70*%&'( ):6)$%)&8)2( #$-%80$%0. HAiJ.( *04+08-%*)( %&-)4-%&0,( 6)6-%2)( H[MiJ. I?7I9?9B@>AHTD+8>NGE>H7+E9@8C+>?+98B7?A9B7+
17)$)04(@(6)$8)&-(-+(U(6)$8)&-(+=(-7)(605 0&2( 4+>0-+4-0-%&( H3#-( &+-( &)#$+-)&4%&. E9C+J>?B@J>HB7?>@EHD+>?+JCJ8>HI>?@A7:
-%)&-4( $)=)$$)2( -+( 7+46%-0,( 2)$>0-+,+'9 &)#$+R%&%&4(K(0&2(E.(3$029R%&%&.(+$(80,5
8,%&%84(%&(-7)(o&%-)2(b%&'2+>(&+-)2(#$-%5 8%-+&%&( ')&)5$),0-)2( 6)6-%2)J.( 08-%*0-)
80$%0( 0&2( 0&'%+)2)>0?( M&( -7)( _0-%+&0, >04-( 8),,4( =+$( 7%4-0>%&)( 4)8$)-%+&?( ")$5 >%&)($)8)6-+$4(088+#&-(=+$(-7)($)>0%&%&'
K>3#,0-+$9( Y)2%80,( G0$)( A#$*)9( 20-0 >0,(>%8$+2%0,94%4(4-#2%)4(+=(-7)(066,%805 @S(6)$8)&-?
=+$( @ddI( -+( @ddT( %&( -7)( o&%-)2( A-0-)4. -%+&(+=(Ai(+&(4R%&(%&2%80-)(-70-(%-(%&2#8)4 D7)( 8#$$)&-( 796+-7)4%4( $)'0$2%&'( 8),5
1+>)&( 088+#&-)2( =+$( !d( 6)$8)&-( +=( 605 7%4-0>%&)($),)04)(+&,9(0-(@IP! G.(17%87 ,#,0$(%&<,-$0-%+&(-70-(=+,,+14(>04-(8),,(2)5
-%)&-(*%4%-4?(D7)$)(104(0(3%>+20,(0')(2%45 4#'')4-4(-70-(0=-)$(6794%+,+'%8(&+8%8)6-+$ '$0&#,0-%+&( 4#'')4-4( -70-( -7)( $),)04)( +=
-$%3#-%+&( 0>+&'( 60-%)&-4.( 1%-7( 6)0R4( 0- 08-%*0-%+&.(Ai(2+)4(&+-(8+&-$%3#-)(4%'&%<5 >04-( 8),,( 6$+2#8-4( H7%4-0>%&).( ,)#R+-$%5
3%$-7(-+(d(9)0$4(0&2(0-(UI(-+(QI(9)0$4?@ 80&-,9( -+( 7%4-0>%&)( $),)04)?U( _+-( 0,,( 6+5 )&)4.(89-+R%&)4.(87)>+R%&)4J(,)024(-+(0,5
o$-%80$%0m0&'%+)2)>0( %4( 8+&4%2)$)2( -+ -)&-%0,( 3%+,+'%8( 6$+2#8-4( 0$)( ')&)$0-)2 -)$0-%+&4( %&( *04+6)$>)03%,%-9.( #6$)'#,05
3)(08#-)(%=(-7)(8+&2%-%+&(,04-4(,)44(-70&(! 17)&( 8#-0&)+#4( >04-( 8),,4( 0$)( 4-%>#5 -%+&(+=(027)4%+&(>+,)8#,)4(+&()&2+-7),%0,
1))R4?(Y+4-(08#-)()6%4+2)4(0$)(2#)(-+(025 ,0-)2?(N+$():0>6,).(Ai($),)04)4(7%4-0>%&) 8),,4.(0&2($+,,%&'(0&2(0--087>)&-(+=(3,++2
*)$4)($)08-%+&4(-+(>)2%80-%+&4(+$(=++24(+$. =$+>(8#-0&)+#4(>04-(8),,4(03+*)(@IP! G ,)#R+89-)4.(=+,,+1)2(39(87)>+-0:%4(0&2
%&( 87%,2$)&.( -+( *%$0,( %,,&)44)4?( ^6%4+2)4( += 3#-( 2+)4( &+-( %&2#8)( 6$+4-0',0&2%&( "C -$0&4)&2+-7),%0,(8),,(>%'$0-%+&?
#$-%80$%0m0&'%+)2)>0( 6)$4%4-%&'( 3)9+&2( ! Hi]"CJ?( [048#,0$( 6)$>)03%,%-9( %&( 4R%&( %4 [0$%+#4( =+$>4( +=( 6794%80,( #$-%80$%0m
1))R4( 0$)(8+&4%2)$)2(87$+&%8(0&2( 0$)(2%5 6$+2#8)2( 6$)2+>%&0&-,9( 39( F@( 7%4-05 0&'%+)2)>0( 70*)( 6$+*%2)2( ):6)$%>)&5
!!6 *%2)2( %&-+( -1+( >0/+$( 4#3'$+#64.( 87$+&%8 >%&)( $)8)6-+$4( HZS( 6)$8)&-Je( FC( 7%4-05 -0,( >+2),4( =+$( -7)( 4-#29( +=( #$-%80$%0m
0&'%+)2)>0( 39( 0,,+1%&'( -7)( +34)$*05 )-( 0,?@Q.@S( 4+#'7-( 0&-%3+2%)4( $)08-%*)( 1%-7 4#88)44=#,?(M&%-%0,(0--)>6-4(-+(2)>+&4-$0-)
-%+&(+=(-7)(),%8%-)2(8,%&%80,($)46+&4).():5 4R%&( >04-( 8),,4( 39( 6)$=+$>%&'( 0&( 0#-+,+5 -7)( 6$)4)&8)( +=( 0&-%3+29( 39( >)0&4( +=
0>%&0-%+&( +=( ,)4%+&0,( 0&2( &+$>0,( 4R%& '+#4(4R%&(-)4-(0&2(=+#&2(0(UI(6)$8)&-(%&8%5 %>>#&+3,+--%&'CU.Cd(70*)(&+-(6$+*)2(#4)5
3%+649( 46)8%>)&4.( 04409( +=( 87)>%80, 2)&8)( +=( 6+4%-%*)( $)08-%+&4( %&( 60-%)&-4 =#,.(3)80#4)(6+4%-%*)($)08-%+&4(80&(3)(4))&
>)2%0-+$4($),)04)2(%&-+(-7)(3,++2(+$(-%45 1%-7( 87$+&%8( #$-%80$%0?( D7)$)( 1)$)( +&,9 %&(+-7)$(0#-+%>>#&)(2%4+$2)$4Cd(+$(+8805
4#)4.( 0&2( 870$08-)$%B0-%+&( +=( 6)$%67)$0, $0$)( 6+4%-%*)( $)08-%+&4( %&( 7)0,-79( 8+&-$+, 4%+&0,,9( %&( 4)$0CU( =$+>( 4#3/)8-4( 1%-7( &+
,)#R+89-)($)46+&4)4?!.T(D7)(%&-$08#-0&)5 4#3/)8-4(+$(60-%)&-4(1%-7(+-7)$(=+$>4(+= 7%4-+$9(+=(#$-%80$%0?(M&(022%-%+&.(4-#2%)4(+=
+#4(%&/)8-%+&(+=(46)8%<8(0&-%')&(%&(4)&4%5 #$-%80$%0?(A#34);#)&-,9.(-7%4(,)*),(+=(6+45 -7)($),0-%+&47%6(+=(0(6+4%-%*)(%>>#&+3,+-
-%B)2(%&2%*%2#0,4(704(6$+*%2)2(0&():6)$5 %-%*%-9(104(47+1&(39(F%2)()-(0,?@!(-+(3) $)4#,-(1%-7(7%4-0>%&)($),)04)(2%2(&+-(9%),2
%>)&-0,(>+2),(=+$(0&0,94%4(+=(-7)($+,)(+= 2#)( -+( 0&( M']( 0&-%3+29( $)08-%*)( 1%-7 0(4%'&%<80&-(8+$$),0-%+&CCe(4)$0(1%-7(0(6+45
%>>#&+',+3#,%&( ^(HM'^J(0&2(%-4(%&-)$085 -7) (4#3#&%-(+=(-7)(M'^($)8)6-+$e(%&(025 %-%*)(3,+-($)4#,-(3#-(&)'0-%*)(7%4-0>%&)($)5
-%+&( 1%-7( -7)( >04-( 8),,?( M&( >0&9( 4#35 2%-%+&.( 0( S( 6)$8)&-( -+( @I( 6)$8)&-( %&8%5 ,)04)(1)$)(=$);#)&-,9(4))&?(F+1)*)$.(4)$0
/)8-4.( -7)( 870,,)&')2( 8#-0&)+#4( 4%-)4 2)&8)(+=(=#&8-%+&0,(0&-%5M'^(0&-%3+2%)4 1%-7(6+4%-%*)(7%4-0>%&)($),)04)(0&2(0(&)'5
2)>+&4-$0-)(0(3%6704%8($)46+&4).(1%-7(0 104(8+&<$>)2?@T 0-%*)( 3,+-( $)4#,-( 2%2( 70*)( 2)>+&4-$03,)
-$0&4%)&-.(6$#$%-%8.()$9-7)>0-+#4(17)0,5 M']( 0&-%5 ( 3)80#4)( 034+$6-%+&( +=( 4#87
0&25L0$)($)08-%+&(=+,,+1)2(39(0(-)&2)$. 4)$0( 1%-7( -7)( ( 4#3#&%-( %&7%3%-)2( 7%4-05
2))6.( )$9-7)>0-+#4.( 6++$,9( 2)>0$5 #<AJB@>A98+%HH9CH+>L+BK7+%AB@d >%&)( $),)04)?( D7#4( ,08R( +=( 4)&4%-%*%-9( +=
80-)2( 0$)0( +=( 41),,%&'( -70-( 6)$4%4-4( =+$ !==<A>P8>F<8@A+.+)7J7IB>?H -7)(%>>#&+3,+-():6,0%&)2(60$-(+=(-7)(2%45
#6(-+(CQ(7+#$4?(D7%4(%4(-7)(,0-)56704)($)5 8$)60&89.(3#-(-7)(80#4)(+=(-7)(=0,4)56+4%5
46+&4)( 1%-7( $)8$#%->)&-( +=( *0$%03,) K44094( =+$( 0&-%5M'^( $)8)6-+$( 0&-%3+29 -%*)(3,+-($)4#,-4(104(&+-(0660$)&-?
&#>3)$4( +=( &)#-$+67%,4.( 6$+>%&)&-( )+5 70*)( %&8,#2)2( %&( *%*+( >)-7+24( 0&2( %& A#38,044( 0&0,94%4( +=( -7)( 60-7+')&%8
4%&+67%,4.(>+&+89-)4.(4>0,,(&#>3)$4(+= *%-$+(044094?(D7)(0#-+,+'+#4(4R%&(-)4-.@Q.@Z M'](704(3))&(7),6=#,(%&(=#$-7)$(2),%&)0-5
304+67%,4.( 0&2( G"Qf( D( ,9>67+89-)4( += 6$+*%2)2(+&)(+=(-7)(<$4-(8,#)4(-70-(0(4#35 %&'( -7)( $),0-%+&47%6( H+$( ,08R( -7)$)+=J( 3)5
-7)(D(7),6)$(C(HD7CJ(4#38,044?Z 4)-(+=(60-%)&-4(1%-7(87$+&%8(#$-%80$%0(70*) -1))&( 3%&2%&'( 044094( 0&2( =#&8-%+&0,
0&( 0#-+%>>#&)( 2%4+$2)$?( E04+67%,4( 0$) >)-7+24?(K&()0$,9($)6+$-(4#'')4-)2(-70-
=$);#)&-,9(#4)2(04(0&(%&(*%-$+(4#$$+'0-)(=+$ >#87(+=(-7)(0&-%$)8)6-+$(0&-%3+29():%4-4
%<B>@==<A@BC+9AE+2K?>A@J+1?B@J9?@9 >04-(8),,4.(0&2(4)8$)-%+&(+=(7%4-0>%&)(04(0 1%-7%&(-7)(M']@(0&2(M']U(4#38,044)4.(3#-
$)4#,-( +=( %&8#30-%+&( 1%-7( 60-%)&-( 4)$0( +$ -7)4)( 20-0( 1)$)( 304)2( +&( %>>#&+3,+-
D7)( <$4-( 4#'')4-%+&( -70-( 60-%)&-4( 1%-7 6#$%<)2(M'](104($)02%,9(2)>+&4-$0-)2@dP
87$+&%8( #$-%80$%0( ( 0&2( 0&'%+)2)>0( >%'7- C@( 3#-( 104( &+-( +34)$*)2( %=( -7)( 4+#$8)( +=
0&0,94%4?Cd( D7#4.( 1)( #4)2( 0=<&%-9( 87$+5
70*)( 0&( 0#-+%>>#&)( 2%0-7)4%4( 104( -7) >0-+'$0679( -+( 6#$%=9( M']( 4#38,044)4
304+67%,4( 104( 0( W&+&$),)04)$Xj-70-( %4. =$+>(-7)(4)$0(+=(60-%)&-4(1%-7(87$+&%8(#$5
+34)$*0-%+&(-70-(-7)$)(%4(0&(%&8$)04)2(%&8%5 304+67%,4(1%-7(0&(03&+$>0,%-9(%&(-7)(4%'5
2)&8)( +=( 0&-%-79$+%2( 0&-%3+2%)4( %&( 4#87 -%80$%0( -+( 2)-)$>%&)( 17%87( 70*)( =#&85
&0,( -$0&42#8-%+&( >+,)8#,)4( ,9&( +$( 498. -%+&0,( 0&-%$)8)6-+$( 0&-%3+29?( V7)&( 1)
60-%)&-4( $),0-%*)( -+( -7)( %&8%2)&8)( %&( -7) 17%87(0$)(#&$)46+&4%*)(-+(4%'&0,4(-7$+#'7
6+6#,0-%+&( 0-( ,0$')?d( D7)4)( %&8,#2)( 0&-%5 %4+,0-)2( M']C( 0&-%3+29( =$+>( &%&)( 605
-7)(M'^($)8)6-+$(3#-(0$)(&+$>0,,9($)46+&5 -%)&-4( 1%-7( 87$+&%8( #$-%80$%0.( &+&)( +=
>%8$+4+>0,( H6)$+:%204)J( 0&2( 0&-%-79$+5 4%*)( -+( +-7)$( 4)8$)-0'+'#)4.( 4#87( 04( -7)
',+3#,%&( 0&-%3+2%)4.( 04( 4))&( %&( 60-%)&-4 -7)>($),)04)2(7%4-0>%&)(=$+>(7#>0&(305
89-+R%&)( >+&+89-)( 87)>+0--$08-0&-( 6$+5 4+67%,4.( %$$)46)8-%*)( +=( 17)-7)$( 0( 6+4%5
1%-7( F047%>+-+( -79$+%2%-%4?@I( i0-%)&-4 -)%&5@?CC(D7)(%&8%2)&8)(+=(0(6+4%-%*)(04409
>09( 70*)( 8,%&%80,( 796+-79$+%2%4>.( 3#-( 0 -%*)( M']C( 0&-%5 ( 0&-%3+29( %>>#&+3,+-
$)4#,-( 104(')&)$0,,9(7%'7)$( -70&( -70-(+35 $)4#,-( 104( 4))&?( Y#87( +=( -7)( 7%4-0>%&)
4>0,,(&#>3)$(>%'7-(3)(796)$-79$+%2(%=(%&5 4)$*)2( 1%-7( -7)( 0#-+,+'+#4( 4R%&( -)4-e( $)5
L0>>0-%+&(%4(0-(0&()0$,9(4-0')(17)&(-795 $),)04)( 2+)4( 066)0$( -+( 3)( 2#)( -+( M']@
6+$-)2( *0,#)4( *0$%)2( 3)-1))&( US( 6)$8)&- 0&2(M']U.(0&2($0$),9(-+(M']Q?UI
$+%2(7+$>+&)(%4($),)04)2(%&-+(-7)(8%$8#,05 0&2( SI( 6)$8)&-?@d.C@.CU( K34+$6-%+&( +=( 4)$0
-%+&?(D7%4(0-96%80,(6$)4)&-0-%+&(47+#,2(3) 1%-7(8,+&)2( (4#3#&%-(2)8$)04)2(-7)(6)$5
2%4-%&'#%47)2(=$+>(-7)(+8804%+&0,(804)(+= 8)&-0')( +=( 7%4-0>%&)( $),)04)( 04( -7) )>87+>L+2>=I87=7AB
]$0*)4( 2%4)04)?( _)*)$-7),)44.( >+4-( 605 0>+#&-( +=( 022)2( ( 4#3#&%-( 104( %&5
-%)&-4(0$)()#-79$+%2?(D7)(%&8%2)&8)(+=(0&5 8$)04)2.CC( 17%87( 8+&<$>)2( $)08-%*%-9 D7)(&+-%+&(-70-(8+>6,)>)&-(>%'7-(8+&5
-%-79$+%2( 0&-%3+2%)4( %&( 60-%)&-4( 1%-7 1%-7( -7%4( $)8)6-+$( 4#3#&%-?( D7)( 04409 -$%3#-)(-+(-7)(7%4-0>%&)($),)04)(+34)$*)2
87$+&%8(#$-%80$%0.(04($)6+$-)2(%&(-7)(,%-)$05 8+#,2(3)(>02)(>+$)(4)&4%-%*)(39(6$)%&8#5 1%-7(4)$0(=$+>(60-%)&-4(1%-7(87$+&%8(#$5
-#$).( *0$%)4( 3)-1))&( @S( 6)$8)&-( 0&2( CQ 30-%&'( 304+67%,4( 1%-7( %&-)$,)#R%&( U( HM\5 -%80$%0(104(4#'')4-)2(39(4-#2%)4(%&(17%87
6)$8)&-.@@.@C(3#-( -7)( >+4-($)8)&-(20-0(0$) UJ.CQ( 0,-7+#'7( -7)( 6)$8)&-0')( +=( 6+4%-%*) 8+>6,)>)&-( 2)6,)-%+&( +$( %&08-%*0-%+&
8,+4)$( -+( -7)( ,0--)$( <'#$)@C( 0&2( 2)>+&5 $)08-%+&4( 104( &+-( 4%'&%<80&-,9( 0==)8-)2? 066)0$)2( -+( 2%>%&%47( 7%4-0>%&)( $)5
4-$0-)(4)'$)'0-%+&(+=(0&-%-79$+%2(0&-%3+25 O),)04)( +=( ,)#R+-$%)&)( GQ( 0&2(M\5U( 0,+&' ,)04)?CI.Cd(K(4)$%)4(+=($)6+$-4CC.CZ.UQ(2+8#5
%)4( 1%-7( 87$+&%8( 0#-+%>>#&)( #$-%80$%0 1%-7( 7%4-0>%&)( 104( 0,4+( 2)>+&4-$05 >)&-)2(&+-(+&,9(0($+,)(=+$(8+>6,)>)&-
$0-7)$( -70&( 87$+&%8( %2%+60-7%8( #$-%80$%0? 3,)?CS.C!(K,-7+#'7(>+$)(8#>3)$4+>).(085 3#-( 0,4+( >+$)( 46)8%<80,,9( 08-%*0-%+&( +=
D7)(044+8%0-%+&(%4.(7+1)*)$.(&+-(034+,#-)? -%*0-%+&(+=(8#-0&)+#4(>04-(8),,4(8+#,2(0,4+ -7)(8,044%80,(60-7109(0&2(')&)$0-%+&(+=
D7)( %&8%2)&8)( %&( -7)( 0#-+%>>#&)( 4#35 3)(6)$=+$>)2(%&(*%-$+(39(#4%&'()%-7)$(-7%& GS0?( N%$4-.( 1)( 2)>+&4-$0-)2( -70-( -7)
'$+#6(104(CT(6)$8)&-(0&2(-7)(%&8%2)&8)(%& 4R%&(4,%8)4CT(+$(60$-%0,,9(6#$%<)2(>04-(8),,4 022%-%+&(+=(6#$%<)2(60-%)&-( M'](-+(&+$5
-7)( 87$+&%8( %2%+60-7%8( #$-%80$%0( 4#3'$+#6 2)$%*)2(=$+>(=+$)4R%&(40>6,)4?CZ >0,(4)$#>(H04(0(4+#$8)(+=(8+>6,)>)&-J
104(@@(6)$8)&-.(17)$)04(-7)(%&8%2)&8)(%& 3#-(&+-(4)$0(2)<8%)&-(%&(GC(+$(GS(0#'5
-7)( 6+6#,0-%+&( 0-( ,0$')( %4( T( 6)$8)&-( -+( Z >)&-)2( 8#-0&)+#4( >04-( 8),,( 7%4-0>%&)
6)$8)&-?(]$#3)$()-(0,?(H@dZZJ@U(8+&4%2)$)2 /@AE@AP+%HH9CH+L>?+ $),)04)?CZ( D7%4( 104( 8+&<$>)2( 1%-7( 305
-7)( 6+44%3%,%-9( -70-( 60-%)&-4( >%'7-( 70*) 4+67%,4?CC.UQ( V)( 8+#,2( 0,4+( $)8+&4-%-#-)
%AB@?7J7IB>?+%AB@F>EC
8%$8#,0-%&'( 0&-%5M'^( 0&-%3+2%)4( -70-( 0$) GS52)<8%)&-(4)$#>(1%-7(6#$%<)2(GS(-+
=#&8-%+&0,( 0&2(2%2(%&2))2(<&2(-7)4)(%&( S K--)>6-4( -+( ;#0&-%-0-)( M']( 0&-%3+29( -+ $)8+*)$( -7)( 0#'>)&-0-%+&( +=( 7%4-0>%&)
6)$8)&-(-+(@I(6)$8)&-(+=(60-%)&-4?(]$0--0& -7) ( 4#3#&%-( 70*).( %&( ')&)$0,.( 3))&( #&5 $),)04)( 6$+*%2)2( 39( 4)$#>?( D7)&( 1)
!!"
9A 9A)
9E !2#$F(#&+-9E 9: 9:)
!"#$%&"'("#$)*+,-./%01 9:(
2*345&6
!"#$'72 8/-/%0
9:( ;&2&4#*;
!4** "B/.E"/.'-
&41."/'(+(4*4"F4
=$>#(3$"&
5&?@*#;$&"&>
9:(-;&2&4#*;
2,#*@$"&>
/%<-;&2&4#*; 2=&3*@$"&>
7,89:;+!@=" -JK7=9B@J+E@9P?9=+>L+BK7+9JB@Q9B@>A+>L+J<B9A7><H+=9HB+J788H+FC+@==<A>P8>F<8@A+;+S!P;T+9AB@?7J7IB>?+9AB@F>ECD+L>88>N7E+FC+9JB@Q9B@>A+>L+J>=G
I87=7ABD+?7879H7+>L+2Z9D+9AE+9<P=7AB9B@>A+>L+=9HB+J788+?7879H7:
G;(2&-H7(-*;-
#;(2&-(2#$F$#,-$"-"(#$F&-H7 I;&@(55$@;&$"
!"#$%&'
H7 H7( HKL'@$"$"*%&"
()*+,-.-./0'.
J(55$@;&$"
()*+,-.-./0'.
M;(+,@$"$"
H7 H7( H7N
!"#$%&'
1"2/3-0'!2-/.
,%44-,#'-.
9B-("+-9D
9E 9E
+$%&>#$*"
/"=$)$#&+-),-9E-/OH-
7,89:;+!@=@ 49BKN9CH+L>?+BK7+L>?=9B@>A+>L+F?9ECR@A@AD+N@BK+@AE@J9B@>A+>L+988+HB7IH+@AK@F@B9F87+FC+2Y+@AK@F@B>?+S!"0T+9H+N788+9H+J>=I87=7AB+9JB@Q9B@>A+FC
=79AH+>L+09P7=9A+L9JB>?+L?9P=7AB+SL9JB>?+h!!LT+S0#LT:+0#+`+09P7=9A+L9JB>?+SL9JB>?+h!!T[+0#9+`+9JB@Q9B7E+09P7=9A+L9JB>?+SL9JB>?+h!!9T[+0&a+`+K@PKG=>87J<89?G
N7@PKB:
!!@
-7?<=+-@JRA7HH 80$%0m0&'%+)2)>0?( o6( -+( Z( 6)$8)&-( += %&( =08-( $)6$)4)&-4( -7)( >+4-( 8+>>+&
60-%)&-4( $)8)%*%&'( $02%+'$067%8( 8+&-$04- =+$>(+=(87$+&%8(#$-%80$%0.(704(0(806$%8%+#4
A)$#>(4%8R&)44.(17%87(104(2)<&)2(+$%'%5 >)2%0():6)$%)&8)(4#87($)08-%+&4.(17%87 8+#$4).(0&2(%4($)8+'&%B)2()04%,9.(%-(%4(=$)5
&0,,9(04(0&(02*)$4)($)08-%+&(-70-($)4#,-)2 +88#$(>+4-(8+>>+&,9(0=-)$(%&-$0*)&+#4 ;#)&-,9( 044+8%0-)2( 1%-7( 8+&8+>%-0&-
=$+>( -7)( 02>%&%4-$0-%+&( +=( 7)-)$+,+'+#4 02>%&%4-$0-%+&?( ")8$)04)2( 4)$#>( 0,-)$5 )*)&-4?( A#87( 0--$%3#-%+&4( >#4-( 3)( %&-)$5
4)$#>(-+(7#>0&4.(>09(4%>%,0$,9(+88#$(0=5 &0-%*)( 60-7109( 8+>6,)>)&-( 6$+-)%& 6$)-)2( 1%-7( 80#-%+&?( K,-7+#'7( %&=)85
-)$( -7)( 02>%&%4-$0-%+&( +=( 2$#'4?( A)$#> ,)*),4( 0&2( %&8$)04)2( 4)$#>( 7%4-0>%&) -%+&4.(=++2(0,,)$'%)4.(02*)$4)($)08-%+&4(-+
4%8R&)44(+88#$4(T(-+(C@(2094(0=-)$(-7)(025 ,)*),4(70*)(3))&(2)-)8-)2(%&(60-%)&-4($)5 =++2( 022%-%*)4.( >)-03+,%8( 0&2( 7+$>+&0,
>%&%4-$0-%+&(+=(-7)(+==)&2%&'(0')&-(0&2(%4 8)%*%&'( $02%+8+&-$04-( >)2%0?( a6%0-) 03&+$>0,%-%)4.(>0,%'&0&-(8+&2%-%+&4.(0&2
>0&%=)4-)2(39(=)*)$.(#$-%80$%0.(,9>6702)5 0&0,')4%84.(6+,9>9:%&(E.(8#$0$).(0&2("5 )>+-%+&0,( =08-+$4( 70*)( 3))&( 8,0%>)2( 04
&+60-79.( >90,'%0.( 0$-7$0,'%0.( 0&2( 0$-7$%5 -#3+8#$0$%&)( %&2#8)( $),)04)( +=( 7%4-05 80#4)4.( 6$++=( +=( -7)%$( )-%+,+'%8( $),0-%+&5
-%4?(A9>6-+>4(0$)(#4#0,,9(4),=5,%>%-)2(0&2 >%&)(=$+>(>04-(8),,4(0&2(304+67%,4? 47%6(+=-)&(%4(,08R%&'?(D7)(,0-)4-(8+&4%2)$5
,04-(Q(-+(S(2094?(Y+$)(-70&(TI(6)$8)&-(+= 0-%+&( %4( 87$+&%8( #$-%80$%0( 04( 0( 8+&4)5
60-%)&-4( 1%-7( 4)$#>( 4%8R&)44( ):6)$%)&8) ;#)&8)( +=( %&=)8-%+&( 1%-7( M'4%6/3!6$'2
#$-%80$%0.(17%87(>09( 3)( 6$#$%-%8(+$( 60%&5 1?B@J9?@9f%AP@>7E7=9+)789B7E+ #,4/2%?(K$-%8,)4(3+-7(4#66+$-%&'@dIP@dC(0&2
=#,?( D7)( %&%-%0,( >0&%=)4-0-%+&( +=( #$-%80$%0 B>+%FA>?=98@B@7H+>L+%?9JK@E>A@J+ 2)&9%&'@dUP@d!(4#87(0($),0-%+&47%6(0$)(
>09(066)0$(0-(-7)(4%-)(+=(%&/)8-%+&? >)$+#4.( 0&2( 0( 2)<&%-)( 0&41)$( %4( &+-
%J@E+&7B9F>8@H=
0*0%,03,)?(F+1)*)$(-7)(MN(#,4/2%(%&=)8-%+&
M&-+,)$0&8)(-+(046%$%&(>0&%=)4-)2(04(#$-%5 $0-)( %&( -7)( 6+6#,0-%+&( 0-( ,0$')( %4( =0$
)79JB@>AH+B>+BK7+%E=@A@HB?9B@>A+ 80$%0m0&'%+)2)>0( +88#$4( %&( +-7)$1%4) '$)0-)$(-70&(-7)(%&8%2)&8)(+=(87$+&%8(#$-%5
>L+/8>>E+4?>E<JBH &+$>0,(%&2%*%2#0,4(+$(%&(60-%)&-4(1%-7(0,5 80$%0.( 0&2( %&( -7)( +6%&%+&( +=( -7%4( 0#-7+$.
,)$'%8( $7%&%-%4( 0&2m+$( 3$+&87%0,( 04-7>0? -7)( 044+8%0-%+&( %4( 46#$%+#4?( D7)( 8+&-$+5
o$-%80$%0m0&'%+)2)>0(>09(2)*),+6(0=-)$ o$-%80$%0m0&'%+)2)>0(%&( $)46+&4)(-+( 045 *)$49(704(3))&( 6#-(%&( 6)$46)8-%*)(39( Y?
-7)( 02>%&%4-$0-%+&( +=( 3,++2( 6$+2#8-4?( M- 6%$%&( 0&2( &+&4-)$+%20,( 0&-%5%&L0>>05
#4#0,,9(%4(-7)($)4#,-(+=(%>>#&)(8+>6,): ]$)0*)4?@dT( M2%+60-7%8( 0&'%+)2)>0( %4( 2%5
-+$9(2$#'4(H_AKM"4J(+88#$$)2(%&(066$+:5 0'&+4)2( 17)&( 0&'%+)2)>0( %4( $)8#$$)&-.
=+$>0-%+&( 0&2( 8+>6,)>)&-( 08-%*0-%+& %>0-),9( @I( 6)$8)&-( -+( CI( 6)$8)&-( += 17)&(#$-%80$%0(%4(034)&-.(0&2(17)&(&+():5
-70-( ,)024( 2%$)8-,9( -+( *048#,0$( 0&2 %&2%*%2#0,4($)=)$$)2(-+(0(7+46%-0,(2)$>05
4>++-7(>#48,)(0,-)$0-%+&4(0&2(%&2%$)8-,9 +')&+#4(0')&-(+$(#&2)$,9%&'(03&+$>0,%-9
-+,+'9(8,%&%8(%&(-7)(o&%-)2(b%&'2+>?(i05 %4(%2)&-%<03,)?(K&():-)&4%*)($)*%)1(+=(0&5
*%0(0&0679,0-+:%&4(-+(>04-(8),,(>)2%0-+$ -%)&-4(%&-+,)$0&-(+=(046%$%&(0,4+(>09($)08- '%+)2)>0(704(3))&(6#3,%47)2?@TI
$),)04)?( K''$)'0-)2( M']( >09( 0,4+( 3)( $)5 -+(%&2+>)-708%&(0&2(-+(+-7)$(_AKM"4?
46+&4%3,)(=+$(7#>0&($)08-%+&4(-+(%>>#5 G98,%8()6%4+2%8(0&'%+)2)>0(704(3))&
O)08-%+&4( -+( 046%$%&( 0$)( 470$)2( 1%-7 044+8%0-)2( 1%-7( =)*)$.( 1)%'7-( '0%&.( 035
&+',+3#,%&4(04()*%2)&8)2(39(-7)(=08-(-70- +-7)$( _AKM"4( 3)80#4)( -7)9( $)L)8-( %&7%5
-7)( 02>%&%4-$0-%+&( +=( M']( =$+>( 17%87 4)&8)( +=( %&-)$&0,( +$'0&( 20>0').( 0( 3)5
3%-%+&(+=(6$+4-0',0&2%&()&2+6)$+:%2)(49&5 &%'&(8+#$4).(0&2(6)$%67)$0,(3,++2()+4%&5
0''$)'0-)4(70*)(3))&($)>+*)2(%4(&+-(045
-704)(@(Hi]FA5@.(898,++:9')&04)(@J@Z!(04 +67%,%0?@dZ( E%+649( 46)8%>)&4( +=( -%44#)4
4+8%0-)2(1%-7(#$-%80$%0(+$(0&0679,0:%4? 1),,(04(%&7%3%-%+&(+=(-7)(%&2#8%3,)(i]FA5
K&(#&8+>>+&(>)870&%4>(=+$(-7)(2)5 47+1( )+4%&+67%,4.( )+4%&+67%,( '$0&#,)
C( H898,++:9')&04)( CJ?( A+2%#>( 40,%89,0-) 6$+-)%&4.(0&2(G"Q(,9>67+89-)4():7%3%-5
*),+6>)&-(+=(#$-%80$%0(0=-)$(-7)(02>%&%45
0&2( 87+,%&)( 40,%89,0-)( ')&)$0,,9( 0$)( 1),, %&'(F\K5aO?(E,++2(,)*),4(+=(M\5@.(4+,#5
-$0-%+&( +=( 3,++2( 6$+2#8-4( %4( -7)( -$0&4=#5 -+,)$0-)2( 3)80#4)( +=( -7)%$( 1)0R( 08-%*%-9
4%+&( +=( M'^( +=( 2+&+$( +$%'%&( 2%$)8-)2 3,)(M\5C($)8)6-+$.(0&2(M\5S(0$)(),)*0-)2?
0'0%&4-( i]FA5@?( i]FA5C( %&7%3%-+$4( 0$)
-+10$2(0&(0&-%')&(-+(17%87(-7)($)8%6%)&-
')&)$0,,9( 1),,( -+,)$0-)2( %&( -7+4)( 1%-7
%4(4#34);#)&-,9():6+4)2?(K&+-7)$(>)8705 _AKM"5%&2#8)2( #$-%80$%0?@ZT.@ZZ( O)085 &@HJ7889A7><H
&%4>(>09(3)(-7)(-$0&4=#4%+&(+=(0(4+,#3,)
-%+&4( -+( _AKM"4( %&8$)04)( -7)( ,)*),4( +=
0&-%')&(6$)4)&-(%&(-7)(2+&+$(6$)60$0-%+& Y#8R,)5V),,4( 49&2$+>)( 8+&4%4-4( +=( #$5
894-)%&9,( ,)#R+-$%)&)4.@Zd(17%87(>09($)5
%&-+(0(6$)*%+#4,9(4)&4%-%B)2($)8%6%)&-? -%80$%0.(0>9,+%2+4%4.(0&2(&)$*)(2)0=&)44
,0-)( -+( -7)( 066)0$0&8)( +=( #$-%80$%0.( 0,5
0&2( %4( 2#)( -+( -7)( 40>)( ')&)( 2)=)8-( 04
-7+#'7( -7)%$( $+,)( %&( _AKM"5%&2#8)2( 045
-70-( 4))&( %&( =0>%,%0,( 8+,2( #$-%80$%0?@IQ
!AL7JB@>AH -7>0( %4( 3)--)$( 870$08-)$%B)2?( i$%8R( 4R%&
A87&%-B,)$( 49&2$+>)( %4( 0( 87$+&%8( #$-%5
-)4-4( 0$)( +=( &+( 2%0'&+4-%8( *0,#).( 6044%*)
80$%0( 044+8%0-)2( 1%-7( M'Y( >+&+8,+&0,
^6%4+2)4(+=(08#-)(#$-%80$%0(80&(3)(044+8%5 -$0&4=)$($)08-%+&($)4#,-4(0$)(&)'0-%*).(0&2
6$+-)%&( 0&2( +4-)+48,)$+4%4.( 0&2( 0&-%5
0-)2(1%-7(#66)$($)46%$0-+$9(-$08-(*%$0,(%&5 &)%-7)$(M'](&+$(M'^(0&-%3+2%)4(70*)(3))&
3+29( -+( M\5@ ( 704( 3))&( 47+1&( -+( 3)
=)8-%+&4.( >+4-( 8+>>+&,9( %&( 87%,2$)&?@ZS 044+8%0-)2(1%-7(8,%&%80,(2%4)04)?(D7)(8,%&5
6$)4)&-?@dd
D7)( 08#-)( #$-%80$%0( $)4+,*)4( 1%-7%&( U %80,( >0&%=)4-0-%+&4( ),%8%-)2( 39( 046%$%&
1))R4?( F)60-%-%4( E( *%$#4( %&=)8-%+&( 704 870,,)&')( +=( 046%$%&5%&-+,)$0&-( 60-%)&-4
3))&(044+8%0-)2(1%-7()6%4+2)4(+=(#$-%80$%0 0$)(3,+8R)2(17)&(4#87(60-%)&-4(0$)(6$+5 %44)(%20+'(+'0.+4%'!."'
,04-%&'(#6(-+(@(1))R(-70-(0$)(088+>60&%)2 -)8-)2(1%-7(0(894-)%&9,(,)#R+-$%)&)($)8)65
D7)( )*0,#0-%+&( +=( 60-%)&-4( 1%-7( #$-%5
39(=)*)$(0&2(0$-7$0,'%04(04(60$-(+=(-7)(6$+5 -+$(3,+8R)$(+$(3%+49&-7)-%8(%&7%3%-+$e(-7%4
2$+>)?( D7)( >)870&%4>( %4( 0&0,+'+#4( -+ 80$%0m0&'%+)2)>0( HN%'?( UT5ZJ( 3)'%&4
<&2%&'(8+&<$>4(0(60-7+3%+,+'%8($+,)(=+$
1%-7( 0( 8+>6$)7)&4%*)( 7%4-+$9( -0R%&'.
-70-(4))&(%&(4)$#>(4%8R&)44P,%R)($)08-%+&4 -7)(894-)%&9,(,)#R+-$%)&)4?
1%-7( 60$-%8#,0$( )>6704%4( +&( -7)( $)8+'5
1%-7(*%$0,50&-%3+29(%>>#&)(8+>6,):)4?
&%B)2( 80#4)4.( 0&2( 0( 6794%80,( ):0>%&05
2K?>A@J+!E@>I9BK@J+1?B@J9?@9+ -%+&?(A+>)(*0$%)-%)4(+=(#$-%80$%0(>09(3)
1?B@J9?@9f%AP@>7E7=9+9LB7?+ 9AE+!E@>I9BK@J+%AP@>7E7=9 %2)&-%<)2(39(-7)%$(870$08-)$%4-%8(066)0$5
,@?7JB+&9HB+2788+,7P?9A<89B@>A 0&8).( 4#87( 04( -7)( 4>0,,( 17)0,4( 1%-7( 0
E)80#4)(-7)(8,%&%80,()&-%-9(+=(87$+&%8(%25 ,0$')( )$9-7)>0-+#4( L0$)( +=( 87+,%&)$'%8
[0$%+#4( -7)$06)#-%8( 0&2( 2%0'&+4-%8 %+60-7%8( #$-%80$%0( 0&2( %2%+60-7%8( 0&5 #$-%80$%0.( -7)( ,%&)0$( 17)0,4( %&( 2)$>+5
!!A 0')&-4( 70*)( 3))&( 044+8%0-)2( 1%-7( #$-%5 '%+)2)>0(%4(=$);#)&-,9()&8+#&-)$)2(0&2 '$067%4>.(0&2(-7)(,+80,%B0-%+&(+=(,)4%+&4
H$>#*;,P--;&2?;;&"# 95$"$2(5-(44&(;("2&P
#;(">$&"#-=$F&>-*;->Q&55$"% Q=&(5>R-("%$*&+&3(
S;?%>R-!9<-$"=$)$#*;R
*#=&;-N(3$5,-=$>#*;,
DBXBY-=-Q$#=-&$#=&;-
S?;(#$*"-*N-$"+$F$+?(5-=$F& );?$>$"%R->&F&;&-
(;#=;(5%$(R-N&F&;R- 9B 9B-5&F&5
M'(&"* 9E-$"=$)$#*;-),-4;*#&$"
AT-3$"-#*-D-= -B-=-#*-AU-=- ("+-N?"2#$*"
,1.'3"/W.B
9*?;>& 9*?;>& "-D.'414&"
V-U-Q&&@> W-U-Q&&@> CG'(&"*
M'(&"*
!"T+*4E4*
K43(4FF41
J'F./.E4 M4D"/.E4 J'F./.E4 !"T+*4E4*
G=&>& !"#$-9E-/OH
3(,-*F&;5(4 G,4&-//
-+( ):6+4)2( 0$)04( %&( ,%'7-5( +$( 8+,25%&5 679,0:%4?( i7+-+-)4-4( -+( ),%8%-( 4+,0$( #$-%5 17)&( -7)( 7%4-+$9( %4( #&$)*)0,%&'?( "+#5
2#8)2(#$-%80$%0?(M=(4#'')4-)2(39(-7)(7%45 80$%0( #4#0,,9( 0$)( 6)$=+$>)2( %&( $)=)$$0, 3,)53,%&2( 6,08)3+58+&-$+,,)2( =++2( 870,5
-+$9.(-7)(6794%80,():0>%&0-%+&(%&(0,,(605 8)&-)$4.( 04( 0$)( 870,,)&')4( =+$( ):)$8%4)5 ,)&')(80&(2)>+&4-$0-)(8,%&%80,($),)*0&8)
-%)&-4(1%-7(#$-%80$%0(47+#,2(%&8,#2)(-)4-4 %&2#8)2(0&0679,0:%4? %&( 804)4( %&( 17%87( -7)( $+,)( +=( 0( =++2( %4
=+$( 6794%80,( #$-%80$%0.( 4#87( 04( 0( 3$%4R V7)&( #$-%80$%0( 704( 3))&( 6$)4)&-( =+$ #&8)$-0%&?( _+&PM'^5>)2%0-)2( 80#4)4( +=
4-$+R)( -+( ),%8%-(2)$>+'$067%4>.( -7)( #4) 2094(+$(1))R4(0-(0(-%>)(H3#-(,)44(-70&(! #$-%80$%0( %&8,#2)( 02*)$4)( $)08-%+&4( -+
+=(0(1)%'7-(-+(),%8%-(2),09)2(6$)44#$)(#$5 1))R4J(+$(+88#$4($)8#$$)&-,9(=+$(4%>%,0$ _AKM"4( 0&2( +6%0-)4?( K&9( +=( -7)4)( 80&
-%80$%0.( 0&2( 066,%80-%+&( +=( 0( 8+,2( +$ %&-)$*0,4.(-7)(>0%&(8+&4%2)$0-%+&4(0$)(0,5 3)( 044+8%0-)2( 1%-7( 8+&8+>%-0&-( 0&5
10$>(4-%>#,#4(-+(%2)&-%=9(8+,25%&2#8)2 ,)$'%8( $)08-%+&4( HM'^( >)2%0-)2J( -+( =++2 '%+)2)>0(+$.(,)44(8+>>+&,9.(6$)4)&-(04
#$-%80$%0(0&2(,+80,%B)2(7)0-(#$-%80$%0.($)5 +$( 2$#'4?( K( 80$)=#,( 7%4-+$9( $)'0$2%&' 0&'%+)2)>0(%&( -7)(034)&8)(+=(#$-%80$%0?
46)8-%*),9?( ^:)$8%4).( 4#87( 04( $#&&%&'( %& 6+44%3%,%-%)4(%4()44)&-%0,?(AR%&(-)4-%&'(80& G7%,2$)&(>09(70*)(08#-)(#$-%80$%0(%&(045
6,08).(>09(),%8%-(87+,%&)$'%8(#$-%80$%0(0&2. 8+$$+3+$0-)(M'^5>)2%0-)2(796)$4)&4%-%*5 4+8%0-%+&( 1%-7( *%$0,( %,,&)44)4e( %-( %4( #&5
%&(4+>)(%&4-0&8)4.():)$8%4)5%&2#8)2(0&05 %-9( -+( =++24( +$( 80&( 6$+*%2)( 4#46)8-4 8,)0$( 17)-7)$( %&=)8-%+&( 1%-7( 308-)$%0
!!#
#+,&'-)*
>)LL.2.$5),'*>),&$%-)-*%L*825)4,2),J6$&)%./.",*
C29H;+]^+<+_U` J$OL,2CR 2$:IM,2+]a+<+_U`
,?<P+?79JB@>A !AE@Q@E<98+87H@>AH+89HB+j+]+K %<B>@==<A7D+>LB7A+N@BK+9AB@BKC?>@E+9AB@F>E@7H
k+!==<A>P8>F<8@A+.+S!P.T+=7E@9B7E k+2>8E+<?B@J9?@9 !E@>I9BK@J
k+&7B9F>8@Jl@E@>HCAJ?9B@J k+2K>8@A7?P@J+<?B@J9?@9 1?B@J9?@98+Q9HJ<8@B@H
k+2788<89?+@==<A@BC k+,7?=9B>P?9IK@H= k+!E@>I9BK@JlHR@A+>A8C
#>>E+?79JB@>AH k+$>J98+K79B+<?B@J9?@9 k+%HH>J@9B7E+N@BK+>BK7?+J>AA7JB@Q7+B@HH<7+E@H79H7
k+!P.+=7E@9B7E k+%b<9P7A@J+<?B@J9?@9 #9=@8@98+L7F?@87+HCAE?>=7H+N@BK+<?B@J9?@9G8@R7+?9HK
k+">Ad!P.+=7E@9B7E+S7:P:D+HJ>=F?>@E+I>@H>A@APT k+2>8EG@AE<J7E+JK>8@A7?P@J+<?B@J9?@9 -JKA@B^87?+HCAE?>=7
!AB?9Q7A><H+9E=@A@HB?9B@>A k+2>8EGE7I7AE7AB+E7?=9B>P?9IK@H=
k+/8>>E+I?>E<JBH $7H@>AH+89HB+m+]+K
k+2>AB?9HB+9P7ABH k+,789C7E+I?7HH<?7+<?B@J9?@9
k+!AB?9Q7A><H+ +P8>F<8@A k+3@F?9B>?C+9AP@>7E7=9
!AL7JB@>A k+#9=@8@98+J>8EG@AE<J7E+HCAE?>=7HD+
k+3@?98+@A+JK@8E?7A <H<988C+N@BK+L7Q7?
k+!AL7JB@><H+=>A>A<J87>H@H+>?+K7I9B@B@H+/+I?>E?>=7
k+n+/9JB7?@98+@A+JK@8E?7A
O*-;&>4*">&
[-*#=&;-("#$=$>#(3$"&>-#*-3(6$3(5-+*>&R-&\%\R- K($"#($"-(#-+*>&-Q=&;&-
=,+;*6,]$"&-*;-+$4=&"=,+;(3$"&-.D:X:T-3%-^$+1 :4F3'-F4 ?;#$2(;$(-$>-b3$5+b-X--"&&+
[-(++$#$*"-*N-HD-("#(%*"$>#R-5&?@*#;$&"&-("#(%*"$># "*#-)&-&5$3$"(#&+
/">?NN$2$&"#-;&>4*">&
!++
I;&>&"#>-Q$#=-=$>#*;,-*N-#(@$"%-2*">$+&;()5&- `*Q-+*>&-+($5,-.ET-3%-4;&+"$>*"&-*;-&^?$F(5&"#1->#&;*$+-
2*;#$2*>#&;*$+>-*;-=(>-=,4&;#&">$*"R-+$()&#&>R- *;-(5#&;"(#&-+(,->#&;*$+-.DTXD:-3%-^*+1-Q$#=->5*Q-
*>#&*4*;*>$>R->&F&;&->#;$(&R-3*;)$+-*)&>$#, #(4&;-&345*,$"%-:'3%-("+-E'3%-4;&+"$>*"&-#()5&#>
9,25*>4*;$"&-X-2*"2*3$#("#->#&;*$+-$>- [-#(4&;-+*>&-&F&;,-DXA-Q&&@>-(>-#*5&;()5&
3(6$3?3-*N-E:-3%_+(,-X-#(4&;-%;(+?(55,- [-%*(5-$>-3$5+-?;#$2(;$(a-;(;&-("%$*&+&3(
Q$#=-%*(5-*N-&5$3$"(#$"%-$#\
/">?NN$2$&"#-;&>4*">&-*;
:4F3'-F4
$"#*5&;()5&->$+&-&NN&2#>
9*"#$"?&-2,25*>4*;$"&-
("+-#(4&;-+*>&
[-5*Q'+*>&->#&;*$+>-(>-"*#&+-()*F&
[-Q&&@5,-3&#=*#;&6(#&
[-$"#;(F&"*?>- -%5*)?5$"
[-45(>3(4=&;&>$>-N*;-(?#*$33?"&->?)%;*?4
7,89:;+!@=# '?79B=7AB+>L+JK?>A@J+@E@>I9BK@J+>?+9<B>@==<A7+<?B@J9?@9f9AP@>7E7=9:+">B7+BK9B+BK7+L>88>N@AP+9P7ABH+9?7+7OI7JB7E+B>+F7+7LL7JB@Q7+?9?78CD+@L
7Q7?g+KCE?>OCJK8>?>b<@A7D+JK>8JK@J@A7D+E9IH>A7D+H<8L9H989^@A7D+=CJ>IK7A>89B7+=>L7B@8:+0CE?>OCJK8>?>b<@A7+@HD+K>N7Q7?D+BK7+E?<P+>L+JK>@J7+L>?+BK7+KCI>J>=I87G
=7AB7=@J+<?B@J9?@98+Q9HJ<8@B@H+HCAE?>=7:+1?B@J9?@98+Q9HJ<8@B@H+=9C+?7HI>AE+B>+E9IH>A7+>?+J>8JK@J@A7:
-7)( 0#-+%>>#&)( '$+#64( 0&2( SI( 6)$8)&- V7)&( #$-%80$%0,( *048#,%-%4( %4( 60$-( +=( 0 -%+&( %4( &)8)440$9?( A#66+$-%*)( -7)$069.
%&( -7)( %2%+60-7%8( '$+#6?( _+( 8+>60$03,) 494-)>%8(2%4)04).(-7)(-$)0->)&-(1%,,(=+5 )6%&)67$%&).(0&2(-%>)(0$)(&))2)2e(-7)$)
4-#2%)4(70*)(3))&(6)$=+$>)2(H+$(8,%&%80, 8#4(+&( 170-(%4( &))2)2( =+$( -7)( #&2)$,95 %4(&+($)46+&4)(-+(0&-%7%4-0>%&)4(+$(8+$-%5
)==)8-4(+3-0%&)2J(1%-7(2064+&).(792$+:95 %&'(2%4+$2)$?(D7)(2$#'(+=(87+%8)(=+$(-7) 8+4-)$+%24?(a-7)$(0&-%796)$-)&4%*)(0')&-4
87,+$+;#%&).(8+,87%8%&).(4#,=040,0B%&).(+$ 796+8+>6,)>)&-)>%8(#$-%80$%0,(*048#,%5 80&( 3)( 4#34-%-#-)2.( %&8,#2%&'( -7+4)( -70-
>)-7+-$):0-).( 0&2( +&,9( 4>0,,( &#>3)$4 -%4( 49&2$+>)( H1%-7( 8%$8#,0-%&'( %>>#&) 3,+8R(0&'%+-)&4%&(MM($)8)6-+$4?
+=( 804)4( 70*)( 3))&( -$)0-)2( 4#88)44=#,,9 8+>6,):)4( 2#)( -+( M']( 0&-%5G@;J@Td( %4 K8#-)(0--08R4(+=(FK^(0$)(-$)0-)2(1%-7
1%-7( %&-$0*)&+#4( ( ',+3#,%&( +$( 6704>05 792$+:987,+$+;#%&)?C@Z )6%&)67$%&).( %&-#30-%+&.( +$( -$087)+45
67)$)4%4?C@!.C@T K&'%+)2)>0( 80#4)2( 39( KG^( %&7%3%5 -+>9( 17)&( 4)*)$)( ,0$9&')0,( )2)>0( %4
o$-%80$%0,(*048#,%-%4(%4(-$)0-)2(1%-7(0&5 -+$4(80&(3)(0&(08#-)()>)$')&89(1%-7(,0$5 )&8+#&-)$)2.(0&2(=$)47(=$+B)&(6,04>0(+$
-%7%4-0>%&)4( 0&2.( %=( 4)*)$).( ,+152+4) 9&')0,( )2)>0( +$( -+&'#)( +$( 670$9&')0, G@( %&7%3%-%+&( 8+&8)&-$0-)( %4( '%*)&( -+
8+$-%8+4-)$+%2?(F)$)(2064+&)(+$(792$+:95 )2)>0( -70-( %4( 4+( ):-)&4%*)( -7)( 60-%)&- 03+$-()6%4+2)4?(i$+679,0:%4(#4)4(0&2$+5
87,+$+;#%&)( >09( 3)( 4-)$+%2( 460$%&'? 80&&+-( >0&0')( 4)8$)-%+&4.( 0&2( %&-#305 ')&4( 4#87( 04( 20&0B+,( HCII5>'( -035
!>5
,)-4JC@d.CCI( +$( 4-0&+B+,+,( HC5>'( -035 8),,( %&<,-$0-)( %&( 87$+&%8( %2%+60-7%8( #$-%5
%2e"(a$.,;&."' 80$%0l(G+>60$%4+&(+=(60-%)&-4(1%-7(0&2
,)-4J.CC@.CCC(+$(0&-%<3$%&+,9-%84CCUPCCS(4#87
M(1%47(-+(-70&R("$?(_%87+,04(A+-)$.(17+ 1%-7+#-( 0&-%5N8)64%,+&OM( +$( 0&-%5M'^
04 50>%&+806$+%8( 08%2( +$( -$0&):0>%8 0#-+0&-%3+2%)4? ;( <44'2.,( B4%+( -))*+/4
08%2(H&+-(0*0%,03,)(%&(-7)(o&%-)2(A-0-)4J? $)*%)1)2( -7%4( >00$%6-.( >02)( >0&9 !)&lQZQ.(@ddd
D7)( 0&2$+')&4( 0$)( >+$)( 8+>>+&,9 7),6=#,(4#'')4-%+&4.(0&2(2+&0-)2(-1+(+= SS? b06,0&(Ki()-(0,l(i0-71094(=+$(3$029R%&%&
#4)2j+&)(10-87)4(=+$(7%$4#-%4>.(%$$)'5 -7)(67+-+'$0674? =+$>0-%+&( 0&2( %&L0>>0-+$9( 2%4)04)?( ;
<44'2.,(B4%+(-))*+/4 !)#l@dS.(CIIC
#,0$( >)&4)4.( +$( 03&+$>0,( ,%*)$( 87)>%45 @SS? N%),24(D()-( 0,l(b%&%&(=+$>0-%+&( %&( 7)$)2%5
-$9( -)4-( $)4#,-4( 04( 6+-)&-%0,( 4%2)( )==)8-4? e.*+).#.)."2.- -0$9(0&'%+)2)>0(6,04>0l(^*%2)&8)(0'0%&4-
M&8$)04)2( 2+40')4( >09( 3)( #4)2( 17)& R%&%&( 2)$%*0-%+&( =$+>( GC( 0&2( %&( 4#66+$-
-7)( 60-%)&-( #&2)$'+)4( ),)8-%*)( 4#$'%80, 'K7+L<88+?7L7?7AJ7+8@HB+L>?+988+JK9IB7?H+ +=( W46+&-0&)+#4X( =+$>0-%+&( +=( 3$029R%5
&%&? ;(<44'2.,(B4%+(-))*+/4 "*lSQ.(@dZU
6$+8)2#$)4( H)?'?.( -7$))( -03,)-4( 6)$( 209 @H+9Q9@89F87+9B+NNN:E@P=W:J>=: @TI? b06,0&( K.( ]$)0*)4( Yl( K&'%+)2)>0?( ;
=+$(C(+$(U(2094(3)=+$)(-7)(6$+8)2#$).(-7) <)(<6!"(O'2)!$/4 %&lUTU.(CIIS
!? ]+$)*%8(i.(b06,0&(Kl(D7)(6794%80,(#$-%5 @dT? ]$)0*)4(Yl(G7$+&%8(%2%+60-7%8(#$-%80$%0
209(+=(-7)(6$+8)2#$).(0&2(@(209(0=-)$J?(K 80$%04? -+$(;(O'2)!$/4 !#lQ@T.(@dZI
G@(M_F(8+&8)&-$0-)(H+$(8,+&)2(>0-)$%0,J 0&2 M'4%6/3!6$'2( #,4/2%j&+-( 2%$)8-,9
@U? ]$#3)$( E( )-( 0,l( i$)*0,)&8)( 0&2( =#&85 80#40-%*)( 3#-( 8+#,2( -7)$)( 3)( 0( ,%&R?
%4(&+-(0*0%,03,)(%&(-7)(o&%-)2(A-0-)4(3#- -%+&0,($+,)(+=(0&-%5M'^(0#-+0&-%3+2%)4(%& <44'2.,(B4%+(-))*+(-+$ !&lCU.(CII@
%4($+#-%&),9(#4)2(-+(-$)0-(08#-)()6%4+2)4 #$-%80$%0,( 49&2$+>)4?( ;( -+&'0$( O'2)!$/4 CII? A03$+)( O( )-( 0,l( D7)( 0#-+,+'+#4( 4)$#>
#)lC@U.(@dZZ 4R%&(-)4-l(K(48$))&%&'(-)4-(=+$(0#-+0&-%5
%&( ^#$+6)( 0&2( K#4-$0,%0?( M&7%3%-+$4( +=
@Q? ]$0--0&(G()-(0,l(K(4)$+,+'%80,(>)2%0-+$ 3+2%)4(%&(87$+&%8(%2%+60-7%8(#$-%80$%0?(?2
R0,,%R$)%&(H=+$(08#-)()6%4+2)4J(0$)(%&(8,%&5 %&( 87$+&%8( %2%+60-7%8( #$-%80$%0j0( 8,%&%5 ;(O'2)!$/4 !')lQQ!.(@ddd
%80,( -$%0,4?( K8;#%$)2( G@( M_F( 2)<8%)&89 80,.( %>>#&+,+'%80,( 0&2( 7%4-+,+'%80, C@U? b06,0&( Kl( G,%&%80,( 6$08-%8)?( G7$+&%8
80&(3)(-$)0-)2(1%-7(,+152+4)(0&2$+')&4 )*0,#0-%+&? ?2(;(O'2)!$/4 !!'lSZU.(@dZ! #$-%80$%0(0&2(0&'%+)2)>0?(E(I+.4(;(G'"
%&(022%-%+&(-+(-7)$069(+=(-7)(#&2)$,9%&' UQ? b%R#87%( q.( b06,0&( Kl( K( $+,)( =+$( GS0( %& &'$l@TS.(CIIC
0#'>)&-%&'( M']52)6)&2)&-( 7%4-0>%&) C@d? ]),=0&2(`()-(0,l(D$)0->)&-(+=(7)$)2%-0$9
8+&2%-%+&?( i,04>067)$)4%4( 0&2m+$( 89-+5 $),)04)( =$+>( 304+67%,4( %&( 87$+&%8( #$-%5 0&'%+)2)>0( 1%-7( 20&0B+,?( O)*)$40,( +=
-+:%8( 0')&-4( >09( 3)( &))2)2( %&( -96)( MM 80$%0? ;(<44'2.,(B4%+(-))*+/4 !)#l@@Q.(CIIC 8,%&%80,( 0&2( 3%+87)>%80,( 03&+$>0,%-%)4?
08;#%$)2(G@(M_F(2)<8%)&89? QI? A03$+)(O()-(0,l(G#-0&)+#4(%&L0>>0-+$9 E(I+.4(;(G'" *#%l@QQQ.(@dT!
;(0/W4&)+P%*/.['(&4 9+#&')$.(>+$)(+=-)&(>0,).(702(0(@I5=+,2
7%'7)$( $0-)( +=( $)8#$$)&8).( 0&2( ,)44( =$)5
&1$'!#()&.
o79AG289<E7+)><U79<
;#)&-,9(702(0(3+29(-)>6)$0-#$)(7%'7)$
-70&( UZ?SkG( H@I@?UkNJ( 0&2( %&*+,*)>)&-
%'+%+;$%"2.+
+=(-1+(+$(>+$)(>#8+#4(>)>3$0&)4?
D7)( +$%'%&0,( &0>)( 6$+6+4)2( 39( *+&
^$9-7)>0( >#,-%=+$>)( H^YJ( %4( 0&( 08#-) F)3$0( 104( '2,$1')!( '@*"!$%&*)( )*4$%5
4),=5,%>%-)2.( #4#0,,9( >%,2.( 0&2( +=-)&( $)5 =/2)'?( D7)( -)$>( '2,$1')!( )*4$%=/2)'( 704
,064%&'( >#8+8#-0&)+#4( 49&2$+>)?( D7) &+1( 3))&( #&%*)$40,,9( 088)6-)2( HD03,)
2%4)04)(%4(#4#0,,9($),0-)2(-+(0&(08#-)(%&5 UZ5@J?
=)8-%+&.( >+4-( +=-)&( 0( $)8#$$)&-( 7)$6)4
4%>6,):(*%$#4(HFA[J(%&=)8-%+&?(^Y(%4(2)5 )9?7+J<B9A7><H+9AEf>?+=<J>J<B9A7><H+
<&)2( +&,9( 39( %-4( 8,%&%80,( 870$08-)$%4-%84l .4!,.&!($(;* 7?<IB@>A+JK9?9JB7?@^7E+FC+B9?P7B+87H@>AH:
-0$')-54706)2( 6,0;#)4( 6$)2+>%&0&-( +& ^Y( %4( 8+&4%2)$)2( $),0-%*),9( 8+>>+&. /7A@PA+J><?H7+F<B+L?7b<7AB+?7J<??7AJ7H:
-7)(=08)(0&2():-$)>%-%)4? 3#-( %-4( %&8%2)&8)( %4( #&R&+1&?( ^*0,#05 &>HB+J9H7H+?789B7E+B>+K7?I7H+H@=I87O+
D7)( 034)&8)( +=( 46)8%<8( 60-7+,+'9. -%+&4( 70*)( 3))&( ,%>%-)2( -+( 804)4( 4)*)$) Q@?<H+S0-3T+@AL7JB@>A:
46)8%<8( 80#4).( 0&2( 3%+,+'%8( >0$R)$4 )&+#'7(-+($);#%$)(7+46%-0,%B0-%+&?(A#87 #?7b<7AB+?7J<??7AJ7H+J9A+F7+I?7Q7AB7E+FC+
8+&-$%3#-)(-+(0(8+&=#4%&'(&+4+,+'9?(D7) 804)4(0$)( 2)<&%-),9($0$).( 1%-7( <'#$)4(%& 8>APGB7?=+<H7+>L+9AB@G0-3+=7E@J9B@>AH:
2)<&%-%+&(+=(^Y(%&(-7%4(8706-)$(%4(304)2
+&( -7)( 8,044%<80-%+&( 6$+6+4)2( 39( E045
-#/%5]0$%&( )-( 0,?@( D7)( 6$%&8%6,)( +=( -7%4 !"#$%&'.)* -7)($0&')(+=(@(-+(!(6)$(>%,,%+&(6)$(9)0$?
8,044%<80-%+&( %4( -+( 8+&4%2)$( A-)*)&45 <2M51.",*@#'5)L%2".*7#(K0MN.- Y%&+$( =+$>4( +=( ^Y( 0$)( 8)$-0%&,9( >+$)
`+7&4+&(49&2$+>)(HA`AJ(04(0(>%&+$(=+$> k .?CBK7=9+=<8B@L>?=7+=@A>?g+-R@A+87H@>AH+ =$);#)&-.( 3#-( -7)( 2%0'&+4%4( +=( ^Y( %4
+=(-+:%8()6%2)$>0,(&)8$+,94%4(HD^_J(0&2 N@BK><B+@AQ>8Q7=7AB+>L+=<J><H+=7=F?9A7H &+&)-7),)44(-++(+=-)&(>02)?
-+(4)60$0-)(-7)4)(-1+(2%4)04)4(=$+>(^Y k .?CBK7=9+=<8B@L>?=7+=9U>?g+-R@A+87H@>AH+ ^Y(+88#$4(%&(60-%)&-4(+=(0,,(0')4.(3#-
H4))(G706?(UdJ?(D7)(*0,%2%-9(+=(-7%4(8,045 N@BK+@AQ>8Q7=7AB+>L+=<J><H+=7=F?9A7H >+4-,9(%&(02+,)48)&-4(0&2(9+#&'(02#,-4?
4%<80-%+&( 704( 3))&( 870,,)&')2( 39( 4+>) k 07?I7HG9HH>J@9B7E+7?CBK7=9+=<8B@L>?=7+ D7)$)( %4( 0( 4,%'7-( >0,)( 6$)6+&2)$0&8)
4-#2%)4.( )46)8%0,,9( =+$( 804)4( %&( 87%,2$)& k &<J>H98+7?CBK7=9+=<8B@L>?=7+S#<JKH+HCAG H>0,)5=)>0,)(4):($0-%+(+=(066$+:%>0-),9
0&2(804)4($),0-)2(-+(G,6/#4!0)!(#+'*)/5 E?>=7D+7JB>E7?=>H@H+I8<?@>?@MJ@98@HTg+ UlCJ?( ^Y( %4( $)8#$$)&-( %&( 0-( ,)04-( UI( 6)$5
+%!'?( M-( 704( 3))&( 8+&<$>)2( 39( 4)*)$0, =<J><H+=7=F?9A7+87H@>AH+N@BK><B+J<B9A7G 8)&-(+=(60-%)&-4?
+-7)$4( 4-#2%)4.( 7+1)*)$.( )46)8%0,,9( -7) ><H+@AQ>8Q7=7AB D7)$)( %4( &+( )4-03,%47)2( #&2)$,9%&'
6$+46)8-%*)( %&-)$&0-%+&0,( A)*)$)( G#-05 2%4)04)?(M&=)8-%+&(1%-7(7#>0&(%>>#&+5
!>!
2)<8%)&89(*%$#4(0&2(0#-+%>>#&)(2%4+$5 Y0&9( +-7)$( %&=)8-%+&4( 70*)( 3))&( $)5 FA[(%4(6$)4)&-(%&(-7)(3,++2(=+$(0(=)1
2)$4(2+(&+-(%&8$)04)(-7)($%4R(+=(^Y.(0&2 6+$-)2(-+(3)(80#4)4(+=(^Y(%&(%&2%*%2#0, 2094(0$+#&2(0&(+*)$-($)8#$$)&8)(+=(7)$5
-7%4(8+&-$04-4(1%-7(A`A?(G04)4(>09(+88#$ 804)4( +$( 4>0,,( 4)$%)4.( 3#-( -7)( )*%2)&8) 6)4?( M=( R)$0-%&+89-)4( 1)$)( %&=)8-)2( %&
%&(8,#4-)$4.(17%87(4#'')4-4(0($+,)(=+$(%&5 =+$( 80#40,%-9( +=( -7)4)( +-7)$( 0')&-4( %4 -70-( 109.( +&)( 1+#,2( ):6)8-( 2%44)>%5
=)8-%+#4( 0')&-4?( D7)$)( %4( &+( %&2%80-%+& +&,9( 8%$8#>4-0&-%0,?( i#3,%47)2( $)6+$-4 &0-)2( 7)$6)4( $0-7)$( -70&( ^Y?( M-( 704
-70-( -7)( %&8%2)&8)( >09( *0$9( 1%-7( )-75 70*)(%>6,%80-)2(%&=)8-%+&(1%-7(+$=(*%$#4. 3))&( 47+1&( -70-( FA[( "_K( %4( -$0&45
&%8%-9(+$(')+'$067%8(,+80-%+&? *0$%8),,05B+4-)$( *%$#4.( 60$*+*%$#4( E@d. 6+$-)2(-+(-7)()6%2)$>%4(39(8),,4(-70-()&5
i$)2%46+4%&'( ')&)4( 70*)( 3))&( $)5 0&2(7)60-%-%4(E(0&2(G(*%$#4)4.(04(1),,(04 '#,=( -7)( *%$#4( 0&2( =$0'>)&-( -7)( "_K?
6+$-)2.( 1%-7( !!( 6)$8)&-( +=( ^Y( 60-%)&-4 %&=)8-%+#4( >+&+,)+4%4( 0&2( 0( *0$%)-9 D7)4)( 8),,4( 0$)( >+&+89-)4.( >08$+5
70*%&'( F\K5"pE@rIUI@( 0,,),).( 8+>5 +=(+-7)$(308-)$%0,(+$(*%$0,(%&=)8-%+&4?(M>5 670')4.( 0&2( )46)8%0,,9( G"UQf( \0&')$5
60$)2(1%-7(U@(6)$8)&-(+=(8+&-$+,4?U(D7) >#&%B0-%+&(704(3))&(0,4+(%>6,%80-)2(04 70&4(8),,(6$+')&%-+$4(70$3+$%&'(-7)(4R%&
044+8%0-%+&( 104( )*)&( 4-$+&')$( %&( 605 0(80#4)(%&(87%,2$)&? 7+>%&'( $)8)6-+$( 8#-0&)+#4( ,9>67+5
-%)&-4( 1%-7( 7)$6)45044+8%0-)2( ^Y?( E)5 "$#'4( 0$)( 0( $0$)( 80#4)( +=( ^Y( 1%-7 89-)5044+8%0-)2(0&-%')&?(o6$)'#,0-%+&(+=
80#4)( +=( -7)( 1)0R&)44( +=( -7%4( 044+8%05 >#8+#4( >)>3$0&)( ,)4%+&4?( M-( >09( 3) 027)4%+&( >+,)8#,)4( '$)0-,9( %&8$)04)4
-%+&.(=0>%,%0,(804)4($)>0%&(*)$9($0$)? 0$'#)2( 17)-7)$( -7)4)( )$#6-%+&4( 0$) 3%&2%&'(+=(FA[58+&-0%&%&'(>+&+,)0$
-$#,9( ^Y( +$( >)$)( %>%-0-+$4.( =+$( ):0>5 8),,4(-+()&2+-7),%0,(8),,4?(F\K58,044(M(0&2
6,).( 0&&#,0$( #$-%80$%0( +$( >08#,+606#,0$ 027)4%+&( >+,)8#,)( #6$)'#,0-%+&( %&( )&5
.'!($(;* )$#6-%+&( 1%-7( 4+>)( ,)4%+&4( $)4)>3,%&' 2+-7),%0,( 8),,4( >09(088+#&-( =+$(-7)( 2)$5
Y+4-( 804)4( +=( ^Y( 0$)( $),0-)2( -+( %&=)85 -0$')-4? >0,( %&L0>>0-+$9( $)46+&4)?( V7)&
-%+&4?(F)$6)4(*%$#4(%4(2)<&%-),9(-7)(>+4- M2%+60-7%8( 804)4( 0$)( -7+4)( %&( 17%87 $)087%&'(-7)()6%2)$>%4(-7)(8),,4(-$0&4>%-
8+>>+&( 80#4).( 6$%&8%60,,9( %&( $)8#$$)&- &)%-7)$( FA[( %&=)8-%+&( &+$( 0&9( +-7)$ -7)(*%$0,(i+,(')&)(-+(R)$0-%&+89-)4?(D7)
804)4?( i$++=( +=( 80#40,%-9( +=( 7)$6)4( %4 80#4)( 80&( 3)( %2)&-%<)2?( A#87( 804)4( 0$) ')&)4(>09(6)$4%4-(=+$(0(=)1(>+&-74.(3#-
<$>,9( )4-03,%47)2( =$+>( 8,%&%80,( ):6)$%5 =0%$,9( 8+>>+&( #&2)$( $+#-%&)( 8%$8#>5 -7)( 49&-7)4%4( 0&2( ):6$)44%+&( +=( -7)( i+,
)&8).( )6%2)>%+,+'9.C( 2)-)8-%+&( +=( FA[ 4-0&8)4?(E#-(FA[(704(3))&(=+#&2(%&(4%-# 6$+-)%&( 1%,,( ,04-( =+$( +&,9( 0( =)1( 2094?
"_K( %&( -7)( ,)4%+&4( +=( ^Y.Q.S( 0&2( 6$)5 39( iGO( %&( #6( -+( QI( 6)$8)&-( +=( W%2%+5 D7%4(>09():6,0%&(-7)(-$0&4%)&-(870$08-)$
*)&-%+&( +=( ^Y( 39( 4#66$)44%+&( +=( FA[ 60-7%8X( $)8#$$)&-( 804)4?@I( A+>)( 4#87 +=(8,%&%80,(,)4%+&4?
$)8#$$)&8)4?!(G,%&%80,,9.(0(,%&R(1%-7(7)$5 804)4( $)46+&2( -+( 6$+679,08-%8( 0&-%*%$0, M&8+>6,)-)( =$0'>)&-0-%+&( +=( *%$0,
6)4(80&(3)()4-03,%47)2(%&(03+#-(+&)570,= -$)0->)&-( 0&2( 0$)( -7#4( ,%R),9( -+( 70*) "_K.( %&8$)04)2( &#>3)$( +=( 8%$8#,0-%&'
+=( 804)4?( M&( 022%-%+&( @I( 6)$8)&-( -+( QI 3))&( -$%'')$)2( 39( 049>6-+>0-%8( FA[ G"UQf( 8),,4.( 0&2m+$( %&8$)04)2( %>>#&)
6)$8)&-( +=( 804)4( 1%-7+#-( 8,%&%80,( 4#46%5 %&=)8-%+&e(+-7)$4(0$)($)4%4-0&-? $)46+&4)( -+( i+,( 6$+-)%&( >09( ):6,0%&
8%+&( +=( 7)$6)4( 1)$)( 0,4+( 2)>+&4-$0-)2 ^Y5,%R)( 2)$>0-%-%4( >09( $)4#,-( =$+> 179(+&,9(0(4>0,,(6$+6+$-%+&(+=(6)$4+&4
-+(3)(7)$6)4($),0-)2.(3)80#4)(FA[("_K 8+&-08-( 4)&4%-%B0-%+&?( D7)4)( $047)4 1%-7($)8#$$)&-(7)$6)4(2)*),+6(^Y?
104( 2)-)8-)2( %&( -7)( ^Y( ,)4%+&4( 39( 6+5 47+#,2( 3)( *%)1)2( 04( %>%-0-+$4( +=( ^Y.
,9>)$04)( 870%&( $)08-%+&( HiGOJ( -)4-%&'? 2)46%-)(-7)%$(8,%&%80,(0&2(7%4-+60-7+,+'%8
^Y( )$#6-%+&4( 3)'%&( +&( 0*)$0')( T( 2094 4%>%,0$%-%)4? 2$!"!2%$+#!",!";-
0=-)$( 0( $)8#$$)&8)( +=( 7)$6)4?( D7)( 2),09 D7)(<$4-(4-)6(%4(-+(4#46)8-(^Y.(304)2(+&
80&( 3)( 4#34-0&-%0,,9( 47+$-)$?( _+-( 0,, 8,%&%80,(=)0-#$)4?(K(4R%&(3%+649(0&2(,03+5
49>6-+>0-%8(7)$6)4($)8#$$)&8)4(0$)(=+,5 4%'0(;.".-!- $0-+$9(%&*)4-%'0-%+&4(0$)(#4)=#,(>0%&,9(%=
,+1)2( 39( ^Y.( 0&2( 049>6-+>0-%8( +&)4 Y)870&%4>4( 70*)( 3))&( %&*)4-%'0-)2( %& -7)( 2%0'&+4%4( %4( &+-( 2)<&%-)( 8,%&%80,,9?
80&(%&2#8)(^Y?(D7)$)=+$).(-7%4(80#40,%-9 2)6-7(%&(7)$6)45044+8%0-)2(^Y?S(M-(%4(&+- D7)( 4)8+&2( 4-)6( %4( -+( 2)-)$>%&)
,%&R(80&(3)(+*)$,++R)2(39(3+-7(60-%)&-4 R&+1&( 17)-7)$( 4%>%,0$( 60-7+6794%+5 17)-7)$(7+46%-0,%B0-%+&(%4(&))2)2(17)&
0&2( 6794%8%0&4?( FA[5@( %4( #4#0,,9( -7) ,+'%8( >)870&%4>4( 066,9( -+( ^Y( 2#)( -+ ^Y( >0/+$( H^YYJ( +88#$4( 1%-7( +$0,( ,)5
80#4).( 3#-( FA[5C( 80&( 0,4+( %&2#8)( ^Y? +-7)$(80#4)4? 4%+&4(-70-(%>60%$(=))2%&'.(17)&(0(6+44%5
D7)( 6$+6+$-%+&( 6$+303,9( $)L)8-4( -7) G+>6,)-)( %&=)8-%*)( FA[( 704( &)*)$ 3,)( 2%0'&+4%4( +=( A`A( %4( 4#46)8-)2.( +$
6$)*0,)&8)( +=( %&=)8-%+&( 39( FA[( 4#35 3))&( %4+,0-)2( =$+>( ,)4%+&4( +=( 7)$6)45 17)&( 4)*)$)( 8+&4-%-#-%+&0,( 49>6-+>4
-96)4(%&(-7)(6+6#,0-%+&? 044+8%0-)2( ^Y?( D7)( 6$)4)&8)( +=( FA[ 0$)(6$)4)&-?(D7)(-7%$2(4-)6(%4(-+()4-03,%47
GN( #+'*)/+%!'( %4( -7)( 4)8+&2( >0/+$ "_K(%&(^Y(,)4%+&4(704(3))&($)6+$-)2(%& -7)(80#4)(+=(^Y(39(%2)&-%=9%&'(0(7%4-+$9
80#4)(+=(^Y(0&2(>09()*)&(3)(-7)(>0/+$ &#>)$+#4( 4-#2%)4( #4%&'( -7)( iGO( 04409? +=($)8#$$)&-(7)$6)4.(6)$=+$>%&'(87)4-($05
80#4)( %&( 6)2%0-$%8( 804)4?TPd( M&( 804)4( $)5 D7)4)(4-#2%)4(2)>+&4-$0-)2(-70-(R)$0-%5 2%+'$0679.( +$( 2+8#>)&-%&'( GN( #+'*)/5
,0-)2( -+( GN( #+'*)/+%!'( -7)( 8,%&%80,( 6$)5 &+89-)4( 2%2( &+-( 8+&-0%&( 8+>6,)-)( *%$0, +%!'(%&=)8-%+&(HN%'?(UZ5@J?
4)&-0-%+&(%4( +=-)&(,)44(-96%80,(0&2(>+$) "_K( 3#-( +&,9( =$0'>)&-4.( 0,1094( %&5
4)*)$)( -70&( %&( 804)4( 044+8%0-)2( 1%-7 8,#2%&'(-7)(*%$0,(6+,9>)$04)(Hi+,J(')&)?
0@HB>?C
FA[?(D7)($),0-%+&47%6(-+(GN(#+'*)/+%!' FA[(i+,("_K(%4(,+80-)2(%&(3040,(R)$0-%5
%4( +=-)&( 2%=<8#,-( -+( )4-03,%47?( G,%&%80, &+89-)4(0&2(%&(,+1)$(46%&+#4(8),,(,09)$4? i$+2$+>0,(49>6-+>4(0$)(034)&-(%&(>+4-
0&2( $02%+,+'%8( 4%'&4( +=( 0-96%80,( 6&)#5 D7)( *%$0,( i+,( 6$+-)%&( %4( 49&-7)4%B)2( %& 804)4?( M=( 6$)4)&-.( -7)9( 0$)( #4#0,,9( >%,2.
>+&%0( 80&( 3)( >%,2.( 0&2( GN( #+'*)/+%!' )6%2)$>0,(8),,4?(FA[546)8%<8(D(8),,4.(%&5 4#'')4-%&'(0&(#66)$($)46%$0-+$9(%&=)8-%+&
%4( #4#0,,9( &+-( 2%$)8-,9( 2)-)8-)2?( iGO 8,#2%&'( 89-+-+:%8( 8),,4.( 0$)( $)8$#%-)2. H)?'?.(8+#'7.($7%&%-%4.(,+15'$02)(=)*)$J?
-)4-%&'(+=(-7$+0-(41034(%4(-7)(>+4-(4)&5 0&2( -7)( *%$#4546)8%<8( $)46+&4)( %4( =+,5 M&( ^YY.( =)*)$( 7%'7)$( -70&( UZ?SkG
4%-%*)( -)87&%;#)?( A)$+,+'%8( $)4#,-4( 0$) ,+1)2( 39( 0( &+&546)8%<8( %&L0>>0-+$9 H@I@?UkNJ(%4(6$)4)&-(%&(+&)5-7%$2(+=(804)4?C
8+&4%2)$)2(2%0'&+4-%8(%&(-7)(6$)4)&8)(+= 0>6,%<80-%+&( 39( 0#-+$)08-%*)( D( 8),,4? K( 7%4-+$9( +=( 6$)*%+#4( 0--08RH4J( %4
%>>#&+',+3#,%&( Y( 0&-%3+2%)4( +$( 0 D7)4)(8),,4(0&2(-7)(89-+R%&)4(-7)9(6$+5 =+#&2( %&( 0-( ,)04-( +&)5-7%$2( +=( 60-%)&-4
>+$)(-70&(-1+=+,2(%&8$)04)(%&(%>>#&+5 2#8)( %&2#8)( -7)( 2),09)2( 796)$4)&4%-%*5 0&2( -7#4( 7),64( 1%-7( -7)( 2%0'&+4%4?( D7)
',+3#,%&(](0&-%3+2%)4(-+(GN(#+'*)/+%!'? %-95,%R)( 066)0$0&8)( +=( -7)( 60-7+,+'9( += )*)&-4(+=(-7)(6$)8)2%&'(U(1))R4(47+#,2
GN(#+'*)/+%!'P$),0-)2(^Y(80&($)8#$? ^Y(,)4%+&4? 3)($)*%)1)2(=+$(8,%&%80,()*%2)&8)(+=(0&9
!>>
I;*P 9*"P
[-#,4$2(5-4(4?5&>-Q$#=-#(;%&#-N&(#?;&> [-#;(">$&"#-5&>$*">
[-(2;(5-+$>#;$)?#$*" ,F+./+;Pg [-Q$+&>4;&(+-&;,#=&3(
[-3?2*?>-3&3);("&-&;*>$*"> [-3(2?5&>-("+-)5$>#&;>R-N5(#-#(;%&#>
[-4;&F$*?>-&4$>*+&> [->?)(2?#&-&F*5?#$*"-
O4F M'
P"0G4
b+G.'3F0
b+1.(4B/+,7 b+%(/.B"(."
b+F4(%&+"-/.G'1.4F b+CK:+c./W+F'&4+
+++;P=*.d4+[4"/%(4F
b "%/'.&&%-4+G*.F/4(F
b+LeL
M'
,F+W'F3./"*.f"/.'-+-44141g
O4F
_W"/+.F+/W4+B"%F4g
PJ=(4*"/41 J'F/=.-[4B/.'-
$C;P ;P ;P
J'FF.G*4 H&;4&>
$C;P J'F./.E4 >&;*5*%,
7;&^?&"#-;&2?;;&"2&>
M4D"/.E4
++CB0B*'E.(
3('3W0*"h.F
/+$*4(#=$2-<K
7;&^?&"#-;&2?;;&"2&>
Cf"/W.'3(.-4
/W"*.1'&.14
7,89:;+!A=" %II?>9JK+B>+BK7+I9B@7AB+N@BK+7?CBK7=9+=<8B@L>?=7+S.&T:+%,)+`+9EQ7?H7+E?<P+?79JB@>A[+0%.&+`+K7?I7HG9HH>J@9B7E+7?CBK7=9+=<8B@L>?=7[+!#+`
@==<A>c<>?7HJ7AJ7[+&4+`+!"#$%&'()'*%+,-)$+.',[+-o-+`+-B7Q7AHGo>KAH>A+HCAE?>=7[+1)'+`+<II7?+?7HI@?9B>?C+B?9JB:
!>?
6$)8%6%-0-%&'(0')&-.(1%-7(0(46)8%0,(=+8#4 460$)2( %&( +-7)$4( H4))( Y#8+#4( Y)>5
+&($)8#$$)&-(7)$6)4? 3$0&)(\)4%+&4J?
M&( >+4-( 804)4.( ^Y( 0==)8-4(1),,( #&2)$
@I( 6)$8)&-( +=( -7)( 3+29( 4#$=08)( 0$)0?( M&
2<B9A7><H+$7H@>AH ZZ(7+46%-0,(804)4(+=(^YY(6$+46)8-%*),9
D7)( 4R%&( $047( 0$%4)4( 03$#6-,9?( M&( >+4- %&8,#2)2( %&( -7)( A)*)$)( G#-0&)+#4( K25
60-%)&-4.( 0,,( ,)4%+&4( 066)0$( 1%-7%&( U *)$4)( O)08-%+&4( 4-#29.( -7)( >)2%0&( %&5
2094.( 3#-( %&( 4+>).(4)*)$0,(8$+64(=+,,+1 *+,*)>)&-( 104( @( 6)$8)&-( +=( -7)( 3+29
)087(+-7)$(2#$%&'(+&)()6%4+2)(+=(^Y? 4#$=08)(0$)0?C([)$9($0$)(%&4-0&8)4(+=():5
a=-)&(-7)$)(0$)(0(,%>%-)2(&#>3)$(+=(,)5 -)&4%*)(4R%&(,)4%+&4(1%-7(W'%0&-X(-0$')-4
4%+&4.( 3#-( #6( -+( 7#&2$)24( >09( =+$>? 7,89:;+!A=! .?CBK7=9+ =<8B@L>?=7+ =9U>?:+ !AG 0&2( 6$+>%&)&-( %&*+,*)>)&-( +=( 4)*)$0,
Y+4-(+88#$(%&(0(49>>)-$%8.(08$0,(2%4-$%3#5 Q>8Q7=7AB+>L+BK7+8@IH+N@BK+9+B9?P7B+I9BB7?A: >#8+#4( 4%-)4( >09( 3)( 2%=<8#,-( -+( 2%4-%&5
-%+&( +&( -7)( ):-)&4+$( 4#$=08)4( +=( -7)( ):5 '#%47(=$+>(A`A?
-$)>%-%)4( H70&24( 0&2( =))-.( ),3+14.( 0&2 D7)(2#$0-%+&(+=(0&(%&2%*%2#0,(,)4%+&(%4
K88+$2%&'( -+( -7)( 6$+6+4)2( 8,044%<805
R&))4J.(=08).(0&2(&)8R(0&2(066)0$(,)44(=$)5 47+$-)$( -70&( C( 1))R4.( 3#-( $)4%2#0,( 6%'5
-%+&.( -96%80,( -0$')-( ,)4%+&4( 8+&4%4-( +=( 0-
;#)&-,9( +&( -7%'74.( 3#--+8R4.( 0&2( -$#&R? >)&-0-%+&( >09( $)>0%&( =+$( >+&-74?
,)04-(-7$))(8+&8)&-$%8(8+>6+&)&-4l(H@J(0
\)4%+&4(+=-)&(<$4-(066)0$(08$0,,9(0&2(-7)& D7)$)(%4(&+(480$$%&'?
2#4R9( 8)&-$0,( 2%4R.( +$( 3,%4-)$e( HCJ( >+$)
46$)02(%&(0(8)&-$%6)-0,(>0&&)$?(Y)870&%5 6)$%67)$0,,9.(0&(%&<,-$0-)2(60,)($%&'e(0&2
80,(=08-+$4(Hb+)3&)$(67)&+>)&+&J(0&2(085 HUJ( 0&( )$9-7)>0-+#4( 70,+?( _+-( 0,,( ,)5 &<J><H+&7=F?9A7+$7H@>AH
-%&%8( =08-+$4( H6$)2%,)8-%+&( +=( 4#&5):6+4)2 4%+&4( +=( ^Y( 0$)( -96%80,e( 4+>)( 2%46,09
4%-)4J(066)0$(-+(%&L#)&8)(-7)(2%4-$%3#-%+& -1+( $%&'4( +&,9( HW$0%4)2( 0-96%80,( -0$5 Y#8+40,(,)4%+&4(0$)(6$)4)&-(%&(#6(-+(TI
+=(,)4%+&4?(K,-7+#'7(60-%)&-4(+8804%+&0,,9 ')-4XJ?(F+1)*)$.(0,,(0$)(606#,0$.(%&(8+&5 6)$8)&-( +=( 60-%)&-4.( >+4-( +=-)&( ,%>%-)2
$)6+$-(3#$&%&'(0&2(%-87%&'.(-7)()$#6-%+&(%4 -$04-(1%-7(>08#,)4.(17%87(0$)(-7)(-96%5 -+(-7)(+$0,(80*%-9?
#4#0,,9(049>6-+>0-%8? 80,(,)4%+&4(%&(A`A5D^_?(M&(4+>)(60-%)&-4 i$)2%,)8-%+&( 4%-)4( =+$( >#8+40,( ,)4%+&4
D7)(2%*)$4%-9(%&(8,%&%80,(60--)$&(%>6,%)2 1%-7(^Y.(>+4-(,)4%+&4(0$)(,%*%2(*)4%8,)4 0$)(-7)(,%64.(+&(3+-7(8#-0&)+#4(0&2(>#5
39( -7)( &0>)( )*4$%=/2)'( %4( >0%&,9( 2#)( -+ +*)$,9%&'( 0( /#4-( 4,%'7-,9( 20$R)$( 8)&-$0, 8+40,( 4%2)4e( &+&50--087)2( '%&'%*0)e( 0&2
-7)(<&2%&'4(%&()087(4%&',)(,)4%+&e(>+4-(,)5 6+$-%+&.( )&8%$8,)2( 39( 0&( )$9-7)>0-+#4 -7)(*)&-$0,(4%2)(+=(-7)(-+&'#)?(D7)(70$2
4%+&4(0$)(#4#0,,9($0-7)$(4%>%,0$(%&(0('%*)& >0$'%&( HN%'?( UZ5UJ?( \0$')$( ,)4%+&4( >09 60,0-)( %4( #4#0,,9( 460$)2.( 04( 0$)( -7)( 0-5
60-%)&-(0-(0('%*)&(-%>)?(D7)(-96%80,(,)4%+& 70*)(0(8)&-$0,(3#,,0(0&2(0(>0$'%&0,($%&' -087)2('%&'%*0)?( a&(-7)(8#-0&)+#4(60$-
%4(0(7%'7,9($)'#,0$.(8%$8#,0$.(17)0,5,%R)()$95 +=(*)4%8,)4(H7)$6)4(%$%4(+=(E0-)>0&J(HN%'? +=( -7)( ,%64.( %2)&-%<03,)( -0$')-( ,)4%+&4
-7)>0-+#4( 606#,)( +$( 6,0;#)( -70-( 6)$4%4-4 UZ5QJ? >09( 3)( 2%48)$&%3,)( H4))( N%'?( UZ5UJ?( a&
=+$( @( 1))R( +$( ,+&')$( HN%'?( UZ5CJ?( M-( >)05 o#0,( 6$)4)&-0-%+&4( %&8,#2)( 804)4 -7)( >#8+40( 6$+6)$( -7)$)( 0$)( )$+4%+&4
4#$)4( =$+>( 0( =)1( >%,,%>)-)$4( -+( 066$+:%5 %&( 17%87( $)8#$$)&-( ^Y( %&( -7)( 40>)( 605 1%-7( <3$%&+#4( 2)6+4%-4.( 0&2( +8804%+&5
>0-),9(U(8>(0&2(>09():60&2(4,%'7-,9(+*)$ -%)&-( 6$+2#8)4( -96%80,( -0$')-( ,)4%+&4( %& 0,,9( %&-08-( *)4%8,)4( 0&2( 3#,,0)( 80&( 3)
CQ(-+(QZ(7+#$4?(K,-7+#'7(-7)(6)$%67)$9($)5 +&)( %&4-0&8)( 3#-( 6,0;#)4( %&( 0( 4#34)5 4))&(HN%'?(UZ5SJ?(D7)(6$+8)44(>09($0$),9
>0%&4( )$9-7)>0-+#4( 0&2( )2)>0-+#4.( -7) ;#)&-()*)&-?(Y#8+#4(>)>3$0&)4(80&(3) ):-)&2( -+( -7)( -7$+0-.( ,0$9&:.( 0&2( )*)&
8)&-)$( 3)8+>)4( *%+,08)+#4( 0&2( 20$Re( %&5 4)*)$),9(%&*+,*)2(%&(4+>)()6%4+2)4(0&2 -7)(-$087)0(0&2(3$+&87%?
L0>>0-+$9( 08-%*%-9( >09( $)'$)44( +$( $)5 ^9)( %&*+,*)>)&-( 3)'%&4( 1%-7( 60%&
,064)(%&(-7)(8)&-)$.(17%87('%*)4($%4)(-+(8+&5 0&2( 3%,0-)$0,( 8+&/#&8-%*%-%4( %&( 17%87
8)&-$%8($%&'4(+=(8+,+$(H4))(N%'?(UZ5CJ?(a=-)&. *)4%8,)4( 0&2( )$+4%+&4( 80&( +88#$( HN%'?
-7)( 8)&-)$( -#$&4( 6#$6#$%8( 0&2m+$( &)8$+-%8 UZ5!J?
+$(-$0&4=+$>4(%&-+(0(-)&4)(*)4%8,)(+$(3#,,0? D7)(&040,.(#$)-7$0,.(0&2(0&0,(>#8+40)
D7)($)4#,-(%4(-7)(8,044%8(-0$')-(+$(%$%4(,)4%+&? 0,4+(>09(3)(%&L0>)2(0&2()$+2)2?
^8-+2)$>+4%4( 6,#$%+$%<8%0,%4( %4( 0( $0$)
+88#$$)&8)( 870$08-)$%B)2( 39( 4)*)$)( %&5
*+,*)>)&-(+=(-1+(+$(-7$))(>#8+40,(4%-)4
%&( -7)( 034)&8)( +=( 4R%&( ,)4%+&4?( M-4( +=-)&
$),064%&'( &0-#$)(4#'')4-4( -70-( %-( %4( FA[
$),0-)2?(Y+$)+*)$.(-96%80,(-0$')-(,)4%+&4
>09(0$%4)(+&(-7)(4R%&(1%-7(&)1(0--08R4?
)789B@>AHK@I+B>+)7J<??7AB+07?I7H
M&(>+$)(-70&(TI(6)$8)&-(+=(60-%)&-4(1%-7
$)8#$$)&-( ^Y.( 0&( )6%4+2)( +=( $)8#$$)&-
FA[(%&=)8-%+&(6$)8)2)4(-7)($047e(-7)(045
4+8%0-%+&( 1%-7( 7)$6)4( ,03%0,%4( 6$)2+>%5
&0-)4( +*)$( -70-( 1%-7( ')&%-0,( 7)$6)4( +$
7)$6)4(%&(+-7)$(,+80-%+&4?(^Y(#4#0,,9(=+,5
7,89:;+!A=> &<8B@I87+ J>AJ7AB?@J+ Q7H@J<89? ,+14($)8#$$)&-(7)$6)4(3#-(>09(0,4+(+88#$
?@APH+ SK7?I7H+ @?@H+ >L+ /9B7=9AT:+ 'K@H+ I9BB7?A 0=-)$(6$%>0$9(FA[(%&=)8-%+&?(D7)(0*)$0')
=9C+ F7+ =>?7+ L?7b<7AB+ @A+ !"#$%&'()'* %+,-/ %&-)$*0,( %4( T( 2094( H$0&').( C( -+( @T( 2094Je
7,89:;+!A=5 'CI@J98+ B9?P7B+ 87H@>AH+ >A+ BK7 )$+.',d?789B7E+J9H7H+>L+7?CBK7=9+=<8B@L>?=7 -7)(2#$0-%+&(+=(-7)(,0'(6)$%+2(066)0$4(-+
!>< I98=: =9U>?: 3)( 46)8%<8( =+$( %&2%*%2#0,( 60-%)&-4?( M&( 0
0-)( ,)#R+89-+4%4.( %&8$)04)2( ,)*),4( +=
08#-)56704)( 6$+-)%&4.( 0&2( >%,2,9( ),)5
*0-)2( ,%*)$( 0>%&+-$0&4=)$04)( ,)*),4( >09
+88#$?( M&( -7)( 6$)4)&8)( +=( $)46%$0-+$9
49>6-+>4(0(87)4-($02%+'$067(%4(&))2)2.
0&2(2+8#>)&-0-%+&(+=(GN(#+'*)/+%!'(%&5
=)8-%+&( 39( iGO( 04409( +=( 0( -7$+0-( 4103
0&2(4)$+,+'%8(-)4-%&'(H0(60%$(0-(0(C5(+$(U5
1))R(%&-)$*0,J(47+#,2(3)(4+#'7-?(M&*)4-%5
'0-%+&4(-+(2+8#>)&-(80#40,%-9(0$)(%>6+$5
-0&-( %&( 804)4( 1%-7( =$);#)&-( $)8#$$)&8)4
17)&( 6$)*)&-%+&( 1%-7( ,+&'5-)$>( 0&-%*%5
$0,( -$)0->)&-( %4( 8+&4%2)$)2( 0&2( 17)&
-7)$)( %4( &+( 8,%&%80,( )*%2)&8)( +=( 044+8%05
-%+&(1%-7(7)$6)4?(FA[(80&(4+>)-%>)4(3)
%4+,0-)2( =$+>( -7)( %&%-%0,( ,)4%+&( +=( ,03%0,
7,89:;+!A=? .?CBK7=9+=<8B@L>?=7+=9U>?+S.&&T:+&><BK+87H@>AH+>L+.&&+<H<988C+=9A@L7HB+9H+7?>H@>AH: 7)$6)4?( K>6,%<80-%+&( +=( FA[( i+,( ')&)
=$+>(3%+649(40>6,)4(+=(^Y(,)4%+&4(%4(&+-
4>0,,(&#>3)$(+=(60-%)&-4.(FA[($)8$#2)45 %&(-7)4)(60-%)&-4?(D7)(60%&(+=(')&%-0,()$+5 2+&)($+#-%&),9?(K(&)'0-%*)($)4#,-(+&(4)$+5
8)&8)(0&2(^Y(>09(+88#$(4%>#,-0&)+#4,9? 4%+&4( >09( ,)02( -+( $)L):( #$%&0$9( $)-)&5 ,+'%8( -)4-%&'( =+$( FA[( >09( 3)( 7),6=#,( -+
_+-( 0,,( )6%4+2)4( +=( ^Y( 0$)( 6$)8)2)2( 39 -%+&?(G+#'7.(6+,96&)0.(0&2(796+:%0(>09 ):8,#2)( -7)( 6+44%3%,%-9( +=( 7)$6)45044+8%5
8,%&%80,,9()*%2)&-(FA[(%&=)8-%+&.(0&2(&+- +88#$(%&(GN(#+'*)/+%!'P$),0-)2(804)4? 0-)2(^Y?(D7)(6+4%-%*)(6$)2%8-%*)(*0,#)(+=
0,,( FA[( )6%4+2)4( 0$)( =+,,+1)2( 39( ^Y? -7)( 6$)4)&8)( +=( F\K5"pE@rIUI@( %4( -++
^6%4+2)4(+=($)8#$$)&-(FA[(%&=)8-%+&(>09 ,+1(-+(70*)(0&9(8,%&%80,(*0,#)?
6$)8)2)(-7)(2)*),+6>)&-(+=(FA[5$),0-)2 $%/()%'()*+#!",!";-
^Y(39(>0&9(9)0$4? 0@HB>I9BK>8>P@J+%A98CH@H ,!##.)."'!%$+,!%;"(-!-
^0$,9( ,)4%+&4( +=( ^Y( ):7%3%-( ,9>67+89-) HE+:(UZ5@J
)789B7E+4KCH@J98+#@AE@APH 088#>#,0-%+&(0-(-7)(2)$>0,5)6%2)$>0,(%&5 M&(0($)-$+46)8-%*)(0&0,94%4(+=(!!(6)2%5
N)*)$(0&2(+-7)$(8+&4-%-#-%+&0,(49>6-+>4 -)$=08).( 1%-7( ):+89-+4%4( %&-+( -7)( )6%2)$5 0-$%8( 804)4( 2%4870$')2( =$+>( 7+46%-0,
0$)(#4#0,,9(034)&-(%&(^Y(>%&+$.(0&2(-7) >%4.( ,9>67+89-)4( 0--087)2( -+( 480--)$)2 1%-7( 0( 2%0'&+4%4( +=( ^Y( CQ( HU!( 6)$8)&-J
6794%80,( ):0>%&0-%+&( %4( &+$>0,?( N)*)$ &)8$+-%8(R)$0-%&+89-)4(H40-),,%-)(8),,(&)8$+5 1)$)( 8,)0$,9( &+-( ^Y( +$( A`A?T( "%4)04)4
7%'7)$(-70&(UZ?SkG(H@I@?UkNJ(%4(6$)4)&-(%& 4%4J.( 46+&'%+4%4.( *08#+,0$( 2)')&)$0-%+&( += -70-( 702( 3))&( =$);#)&-,9( )$$+&)+#4,9
UC(6)$8)&-(+=(804)4(+=(^YY?(Y+#-7()$+5 -7)( 3040,( 8),,( ,09)$.( 0&2( =+80,( /#&8-%+&0, 80,,)2( ^Y( 1)$)( #$-%80$%0( 0&2( >08#,+5
4%+&4( >09( 3)( *)$9( 60%&=#,( 0&2( >09( %>5 0&2( 4#35)6%2)$>0,( 8,)=-( =+$>0-%+&( HN%'? 606#,0$(2$#'()$#6-%+&?
60%$( 0,%>)&-0-%+&?( D7)( 60-%)&-( >09( 3) UZ5TJ?(D7)(606%,,0$9(2)$>%4(>09(3)()2)>5 D7)( 2)4%'&0-%+&( +=( F/P'44( 0,+"2/)'@@
#&03,)(-+(8,+4)(-7)(>+#-7(0&2(>09(8+&5 0-+#4( 3#-( 6$%&8%60,,9( 8+&-0%&4( 0( 2)&4) %4(#4)2(=+$(0(*0$%)-9(+=(8#-0&)+#4(,#6#4
4-0&-,9(2$++,(3,++254-0%&)2(40,%*0?(G)$*%5 >+&+,)0$(8),,(%&<,-$0-).(17%87(%4(>+$) )$9-7)>0-+4#4( 1%-7( ,)4%+&4( $)4)>3,%&'
80,( ,9>6702)&+60-79( %4( #4#0,,9( 6$)4)&- 03#&20&-(%&(+,2)$(,)4%+&4?(D7)(*)44),4(0$) -7+4)(+=(^Y?(A#308#-)()*+,#-%+&.(0(6+4%5
)8-0-%8( 1%-7( 41+,,)&( )&2+-7),%0,( 8),,4e -%*)($)4#,-(+&(2%$)8-(L#+$)48)&8)(-)4-%&'.
-7)$)( >09( 3)( ):-$0*040-)2( )$9-7$+89-)4 0&2( -7)( 6$)4)&8)( +=( 0&-%5,)0$( 0&-%5
0&2( )+4%&+67%,4?( M>>#&+L#+$)48)&8) 3+2%)4():8,#2)(^Y?
<&2%&'4( 0$)( &)'0-%*)( +$( &+&546)8%<8?( M& A1))-(49&2$+>)(80&(>%>%8(^Y(>%&+$e
02*0&8)2( ,)4%+&4( 4#35)6%2)$>0,( 3,%4-)$ 3%+649()04%,9(2%4-%&'#%47)4(-7)(-1+?(i0$05
=+$>0-%+&( >09( +88#$.( 3#-( &)8$+4%4( $0$),9 &)+6,04-%8( 6)>67%'#4( 0&2( >+$)( $0$),9
%&*+,*)4(-7)()&-%$)()6%2)$>%4(H4))()N%'?(UZ5 +-7)$(0#-+%>>#&)(3,%4-)$%&'(2%4)04)4(+85
T?@(%&(+&5,%&)()2%-%+&J?(M&(,0-)(,)4%+&4.(>),5 804%+&0,,9(6$)4)&-(1%-7(-0$')-5,%R)(,)4%+&4
0&+670')4(>09(3)(6$+>%&)&-? -70-(80&(3)(8+&=#4)2(1%-7(-7+4)(+=(^Y?
D7)( 7%4-+60-7+,+'%8( 066)0$0&8)( +=( ^Y a&)( +=( -7)4)( 704( 3))&( $)6+$-)2( 04
,)4%+&4(%4(2%==)$)&-(=$+>(-70-(+=(A`A5D^_(,)5 ^YY( 1%-7( 0&-%2)4>+6,0R%&( 0&-%3+25
4%+&4.( %&( 17%87( 2)$>0,( %&L0>>0-%+&( %4 %)4?@C(M-($)4)>3,)4(^YY(%&(%-4(08#-)(0&2
>+2)$0-)(-+( 034)&-( 0&2( )6%2)$>0,(&)8$+5 $)8#$$)&-( 8+#$4).( 3#-( -7)( 6$)4)&8)( +=
4%4(>#87(>+$)(6$+&+#&8)2(H4))(G706?(UdJ? 080&-7+,94%4.(2)6+4%-4(+=(%>>#&+',+3#5
A-%,,.( -7)( 7%4-+60-7+,+'%8( 066)0$0&8)4( 0$) ,%&(](0$+#&2(3040,(8),,4.(0&2(4)$#>(0&-%5
4+>)170-( +*)$,066%&'( 0&2( 2+( &+-( 0,,+1 3+2%)4( 0'0%&4-( 2)4>+6,0R%&( 2%4-%&'#%47
-7)(2%4-%&8-%+&(+=(^Y(=$+>(A`A5D^_(%&(0,, %-(=$+>(^Y?
%&4-0&8)4?(D7)(>0%&($)04+&(=+$(6)$=+$>%&' V7)-7)$( 8+&4%2)$)2( 0( *0$%0&-( +=
0(3%+649(%4(-+($#,)(+#-(+-7)$(2%0'&+4)4? ^YY( +$( 0( 4)60$0-)( 2%4)04).( A`A( 47+#,2
3)( $)8+'&%B)2( 6$+>6-,9( =+$( -7$))( $)05
4+&4l(H@J(-7)(6+44%3%,%-9(+=(,%=)5-7$)0-)&5
(BK7?+$9F>?9B>?C+'7HBH
%&'( 8+>6,%80-%+&4.( HCJ( -7)( $%4R( +=( 6$+5
D7)$)(0$)(&+(46)8%<8(,03+$0-+$9(-)4-4(=+$ '$)44%+&( -+( D^_.( 0&2( HUJ( -7)( &))2( =+$
7,89:;+!A=< .?CBK7=9+=<8B@L>?=7+=9U>?:+.C7 ^Y?( M&( >+$)( 4)*)$)( 804)4.( 0&( ),)*0-)2 #$')&-( 1%-72$010,( +=( 4#46)8-)2( 80#45
87H@>AH:+2>AU<AJB@Q@B@H+N@BK+7?>H@>AH: )$9-7$+89-)( 4)2%>)&-0-%+&( $0-).( >+2)$5 0-%*)(2$#'H4J?(i0%&.(8+&4-%-#-%+&0,(49>65
!>@
C Q
7,89:;+!A=@ 0@HB>I9BK>8>P@J+L79B<?7H+>L+7?CBK7=9+=<8B@L>?=7+S79?8C+87H@>AT:+CY+%A+@AB7AH7+8C=IK>K@HB@>JCB@J+@AM8B?9B7+M88H+BK7+=@EGE7?=@H+9AE+>F8@B7?9B7H
=9AC+F8>>E+Q7HH78H:+'K7+E7?=98+I9I@8897+9?7+7E7=9B><H+9AE+J>AB9@A+=9B7?@98+N@BK+BK7+HB9@A@AP+I?>I7?B@7H+>L+MF?@A:+'K7?7+@H+H<FG7I@E7?=98+J87LB+L>?=9B@>A+9AE
J@?J<=HJ?@F7E+A7J?>H@H+>L+BK7+7I@E7?=@H:+QY+0@PKGI>N7?+=9PA@MJ9B@>A+>L+HJ9BB7?7E+R7?9B@A>JCB7+A7J?>H@H:
-+>4.(4)*)$)()$+4%+&4(+=(>#8+40).($06%2 O)8#$$)&8)4( 0$)( 8+>>+&( 0&2( >09 60$0,,),( 1%-7( -7)( %>6$+*)>)&-( +=( $)8#$5
6$+'$)44%+&.( 0&2( 2#4R9( +$( *%+,08)+#4 870$08-)$%B)(-7)(>0/+$%-9(+=(804)4?(M&(+&) $%&'(FA[(%&=)8-%+&?
4R%&(,)4%+&4(0$)(0,)$-%&'(=)0-#$)4? $)6+$-( +=( 0( ,0$')( 4)$%)4( +=( 60-%)&-4( 1%-7 K( 4>0,,( =$08-%+&( +=( 60-%)&-4( ):6)$%5
$)8#$$)&-( ^Y.( -7)( >)0&( &#>3)$( +=( 0-5 )&8)( 0( 6$+,+&')2( 4)$%)4( +=( +*)$,066%&'
-08R4(104(!(6)$(9)0$(H$0&').(C(-+(U!J.(0&2 0--08R4(+=(^Ye(-7%4(704(3))&(,03),)2(6/+5
2(1)-.+%",+2(&4$!2%'!("- -7)( >)0&( -+-0,( 2#$0-%+&( +=( 2%4)04)( 104 $%+*/*0(IG(+$(#'20%0$'+$(IG?@U
^Y( $#&4( 0( >%,2( 8+#$4)( %&( >+4-( 804)4. d?S( 9)0$4?( M&( UU( 6)$8)&-.( -7)( 8+&2%-%+&
0&2( )087( %&2%*%2#0,( 0--08R( 4#34%2)4 6)$4%4-)2(=+$(>+$)(-70&(@I(9)0$4?@U(o6(-+
1%-7%&( @( -+( Q( 1))R4?( O)8+*)$9( %4( 8+>5 SI( $)8#$$)&8)4( 70*)( 3))&( 2)48$%3)2( %&( 0 ').%'&."'
6,)-).(0&2(-7)$)(0$)(#4#0,,9(&+(4);#),0). 4%&',)(60-%)&-?(D7)(4)*)$%-9(+=()6%4+2)4(%& D7)(0%>4(+=(-$)0->)&-(0$)(-+($)2#8)(-7)
):8)6-( =+$( -$0&4%)&-( 796+6%'>)&-0-%+& 60-%)&-4(1%-7($)8#$$)&-(^Y(%4(7%'7,9(*0$%5 2#$0-%+&(+=(=)*)$.()$#6-%+&.(0&2(7+46%-0,5
+$(796)$6%'>)&-0-%+&(%&(4+>)(804)4? 03,)(0&2(#&6$)2%8-03,)?(D7)(=$);#)&89(+= %B0-%+&?( E04)2( +&( $)-$+46)8-%*)( 4)$%)4( +$
M&( $0$)( %&4-0&8)4( -7)( +8#,0$( )$+4%+&4 )6%4+2)4(0&2(8#>#,0-%*)(2#$0-%+&(+=(2%45 4>0,,( 8+&-$+,,)2( -$%0,4.( -7)( #4)( +=( 4945
+=(^YY(>09(80#4)(4)*)$)($)4%2#0,(480$5 )04)(0$)(&+-(8+$$),0-)2(1%-7(-7)(4)*)$%-9 -)>%8( 8+$-%8+4-)$+%24( 4))>4( -+( 47+$-)&
$%&'( +=( -7)( )9)?( GN( #+'*)/+%!'P$),0-)2 +=(0--08R4?(D7)(=$);#)&89(0&2(4)*)$%-9(+= -7)( 2#$0-%+&( +=( =)*)$( 0&2( )$#6-%+&( 3#-
^YY( >09( 3)( 044+8%0-)2( 1%-7( 4)*)$) $)8#$$)&-(^Y(-)&2(-+(2)8$)04)(46+&-0&)5 >09( %&8$)04)( -7)( ,)&'-7( +=( 7+46%-0,%B05
)$+4%*)(3$+&87%-%4? +#4,9(+*)$(-%>)(H0=-)$(C(9)0$4(+$(,+&')$J. -%+&(3)80#4)(+=(8+>6,%80-%+&4?(F+1)*)$.
#+,&'.)*
>)LL.2.$5),'*>),&$%-)-*%L*<2M51.",*@#'5)L%2".*F<@H*
P92I9L+P;PQ:CM;+ JCH$IRI8,2+ RCQI:CHI:O+
R;L,IML 2R,M,2CR+JCHH;:M 7,MK,M8L H;LH,M8 2I9:L;
1?B@J9?@9 "> 2@?J@A9B7D+B?9AH@7AB .E7=9 &>?7+9J<B7+
BK9A+.&
&9J<8>I9I<89? )9?7+S8@IHT a@E7HI?79E+I>8C=>?IK><H+ &>HB+>LB7A+A>AG
E?<P+7?<IB@>A B9?P7BG8@R7+87H@>AHD+=9JG HI7J@MJ
<87HD+I9I<87HD+I89b<7H
$<I<H+S)>N788+ 4>HH@F87+S=><BKT #9J7+9AE+BK>?9O !AB7?L9J7+E7?=9B@B@H %AB@GA<J879? -<F9J<B7
HCAE?>=7T $9?P7+B9?P7BG8@R7+87H@>AHD+ 4>H@B@Q7+?7H<8B+>A+,!#+ 9AB@F>E@7H
9AA<89?+I89b<7H Sp8<I<H+F9AEqT I?7H7AB
49?9A7>I89HB@J 2>AHB9AB[+98N9CH+ .&G8@R7+87H@>A+I8<H+ %J9ABK>8CH@H %AB@F>E@7H 2K?>A@J
I7=IK@P<H 79?8C+9AE+H7Q7?7 8@JK7A>@E+I9I<87H 4>H@B@Q7+?7H<8B+>A+,!# I?7H7AB
4>H@B@Q7+"@R>8HRC+H@PA
47=IK@P>@E )9?7 2@?J@A9B7+7?CBK7=9B><H+ -<FG7I@E7?=98+F8@HB7? %AB@F>E@7H 2K?>A@J
I9BJK7H I?7H7AB
%AB@E7H=>I89R@A 2>AHB9AB .&G8@R7+87H@>AH /9H98+9J9ABK>8CH@H %AB@F>E@7H %J<B7+?789IH@AP
p.&+=9U>?q 4>H@B@Q7+?7H<8B+>A+,!# I?7H7AB
-B7Q7AHGo>KAH>A 2>AHB9AB a@E7HI?79E+H=988+F8@HB7?H !AB7?L9J7+E7?=9B@B@H %J<B7
HCAE?>=7 %BCI@J98+B9?P7BH .I@E7?=98+A7J?>H@H
2>AHB@B<B@>A98+HC=IB>=H
,!#+`+E@?7JB+@==<A>c<>?7HJ7AJ7+B7HB@AP:
!>A
-7)( >)-7+2+,+'9( +=( >+4-( 4-#2%)4( 104 -70-( 7)$6)4( %4( -7)( 6$)8%6%-0-%&'( =08-+$?! 4%4.( A-)*)&45`+7&4+&( 49&2$+>)( 0&2
6++$.(1%-7(4>0,,(4)$%)4(+=-)&(>%:%&'(-7) D+6%80,(0898,+*%$(-7)$069(#4)2(%&(0(6$+5 )$9-7)>0( >#,-%=+$>)?( <261( O'2)!$/4
!*#ldC.(@ddU
*0$%+#4( =+$>4( +=( %2%+60-7%8( 0&2( *%$0,5 679,08-%8( >0&&)$( 2+)4( &+-( 6$)*)&-( $)5 C? K#;#%)$5"#$0&-( K( )-( 0,l( G+$$),0-%+&4
044+8%0-)2(^Y(0&2(2$#'5%&2#8)2(A`A? 8#$$)&-(7)$6)-%8(^Y? 3)-1))&(8,%&%80,(60--)$&4(0&2(80#4)4(+=
A)*)$0,( 4)$%)4( %&2%80-)( -70-( 02>%&%45 M&(0(4)$%)4(+=(!S(60-%)&-4(1%-7($)8#$$)&- )$9-7)>0( >#,-%=+$>)( >0/#4.( A-)*)&45
-)$%&'(0&-%5FA[(2$#'4(=+$(-7)(-$)0->)&- ^Y.( @@( 1)$)( -$)0-)2( 1%-7( 0B0-7%+6$%&) `+7&4+&(A9&2$+>)(0&2(-+:%8()6%2)$>0,
+=( =#,,53,+1&( 6+4-7)$6)-%8( ^Y( %4( #4)5 17)&(0,,(+-7)$(-$)0->)&-4(702(=0%,)2?(KB05 &)8$+,94%4? <261( O'2)!$/4 !&(l@I@d.
CIIC
,)44?(V7)&(49>6-+>0-%8.(GN(#+'*)/+%!' -7%+6$%&)(104(3)&)<8%0,(%&(0,,(@@(60-%)&-4?@U Q? V)4-+&( V\l( F)$6)45044+8%0-)2( )$95
%&=)8-%+&(47+#,2(3)(-$)0-)2(1%-7(0&-%3%5 O)-$+46)8-%*)(#&8+&-$+,,)2(0&0,94)4(+= -7)>0( >#,-%=+$>)?( ;( -+&'0$( O'2)!$/4
+-%84(H>08$+,%2)4(%&(87%,2$)&.(>08$+,%2)4 -70,%2+>%2)( -7)$069( 70*)( %&2%80-)2( -70- !*'l:*.(CIIS
+$(;#%&+,+&)(%&(02#,-4J?(D7)$)(%4(&+()*%5 %-( %4( >+2)$0-),9( )==)8-%*)( =+$( -7)( -$)0-5 !? D0-&0,,( NY.( A87+<),2( `b.( \)%'7( MYl( K
2+#3,)53,%&2.(6,08)3+58+&-$+,,)2(-$%0,(+=
2)&8)( %&2%80-%&'( 17)-7)$( %-( %>6$+*)4 >)&-( +=( ^Y?@Q( M&( +&)( $0&2+>%B)2( 8+&5 8+&-%&#+#4( 0898,+*%$( -7)$069( %&( $)8#$5
-7)( )*+,#-%+&( +=( -7)( 044+8%0-)2( ^Y? -$+,,)2( -$%0,.( ,)*0>%4+,)( 066)0$)2( #4)=#,? $)&-()$9-7)>0(>#,-%=+$>)?(?2(;(O'2)!$/4
D7)$)=+$).( 17)&( 049>6-+>0-%8( %&=)85 E)80#4)( 0'$0&#,+89-+4%4( %4( 0( 4)*)$)( 0&2 !&*lC!T.(@ddS
-%+&( %4( 4#'')4-)2( 39( 4)$+,+'%8( -)4-%&'. &+-():8)6-%+&0,(02*)$4)()==)8-.(,)*0>%4+,) Z? N+$>0&( O.( b+$)&( ].( A7)0$( _Fl( ^$95
-$)0->)&-(%4(&+-(>0&20-+$9? #4)(%4(6)$>%--)2(%&(+&,9(0(=)1(8+#&-$%)4? -7)>0( >#,-%=+$>).( A-)*)&45`+7&4+&
49&2$+>)( 0&2( -+:%8( )6%2)$>0,
\%;#%2( 0&-08%24.( -+6%80,( ',#8+8+$-%5 D7)(3)&)<-5$%4R($0-%+(%4(6$+303,9(-++(,+1 &)8$+,94%4(%&(87%,2$)&l(K($)*%)1(+=(@I
8+%24.( 0&2( ,+80,( 0&)4-7)-%84( $),%)*) -+(4#66+$-(%-4(#4)(%&(-7)(-$)0->)&-(+=(^Y? 9)0$4c( ):6)$%)&8)?( O2*.( H!= *%ld!S.
49>6-+>4(+=(60%&=#,(>+#-7()$+4%+&4? CIIC
@U? A87+<),2( `b.( D0-&0,,( NY.( \)%'7( MYl
e.*+).#.)."2.- O)8#$$)&-( )$9-7)>0( >#,-%=+$>)l( G,%&%5
4).3."'!(" 80,( =)0-#$)4( 0&2( -$)0->)&-( %&( 0( ,0$')
4)$%)4(+=(60-%)&-4?(?2(;(O'2)!$/4 !*(lSQC.
'K7+L<88+?7L7?7AJ7+8@HB+L>?+988+JK9IB7?H+ @ddU
G+&-%&#+#4(-7)$069(1%-7(+$0,(0&-%5FA[
2$#'4(H4))(G706?(CUCJ(%4()==)8-%*)(-+(6$)5 @H+9Q9@89F87+9B+NNN:E@P=W:J>=: @Q? V#(``()-(0,l(D70,%2+>%2)l(")$>0-+,+'%5
80,( %&2%80-%+&4.( >)870&%4>4( +=( 08-%+&
*)&-( $)8#$$)&8)4( +=( 7)$6)45044+8%0-)2 @? E04-#/%5]0$%&(A()-(0,l(K(8,%&%80,(8,044%<805 0&2(4%2)5)==)8-4?(?2(;(O'2)!$/4 !%&lCSQ.
^Y( 1%-7( +$( 1%-7+#-( 8,%&%80,( )*%2)&8) -%+&(+=(804)4(+=(-+:%8()6%2)$>0,(&)8$+,95 CIIS
!"#$%&'/)0
@./)4,5)%$-*,$/*51.*=)-R*%L*<N)/.2",'*I.42%'M-)-
E!DE*=!7G B?C<=*=!7G >?89038B*=!7G I?*<S!><I+< ?3*=!7G
%88>I<?@A>8 %J7B@J+9J@E+"-%!,H+S7:P:D+E@J8>L7A9JT 49?9J7B9=>8+S9J7B9=@A>IK7AT %HI@?@A
-<8L9=7BK>O9^>87 %=@A>I7A@J@88@AH 4C?9^>8>A7+9A98P7H@JH -<8L>AC8<?79
-<8L9E@9^@A7 27IK98>HI>?@AH 2>?B@J>HB7?>@EH 'K@9^@E7+E@<?7B@JH
-<8L9IC?@E@A7 r<@A>8>A7H (BK7?+"-%!,H+S7OJ7IB+9HI@?@AT+ #<?>H7=@E7
-<8L9E>O@A7 2CJ8@AH -7?B?98@A7 %8E9JB>A7
-<8L9H989^@A7 &9J?>8@E7H 298J@<=+JK9AA78+F8>JR7?H
29?F9=9^7I@A7 +/8>JR7?H
$9=>B?@P@A7 %AP@>B7AH@AGJ>AQ7?B@AP+7A^C=7+@AK@F@B>?H
4K7A>F9?F@B98 %AP@>B7AH@A+!!+?7J7IB>?+9AB9P>A@HBH
4K7ACB>@A -B9B@AH
4K7AC8F<B9^>A7 0>?=>A7H
"7Q@?9I@A7 3@B9=@AH
(O@J9=+"-%!,H
'K@9J7B9^>A7
"-%!,H+`+A>AHB7?>@E98+9AB@G@Ac9==9B>?C+E?<PH:
!?6
087).($7%&%-%4.(0&2(>90,'%04(>09(6$)8)2)
-7)( >#8+8#-0&)+#4( ,)4%+&4( 39( @( -+( U
2094?(i0%&(+&(410,,+1%&'(0&2(3#$&%&'(+$
4-%&'%&'( +=( -7)( )9)4( 6$+'$)44%*),9( 2)5
*),+6.( 7)$0,2%&'( >#8+#4( >)>3$0&)( %&5
*+,*)>)&-?( K3+#-( +&)5-7%$2( +=( 804)4
3)'%&( 1%-7( &+&546)8%<8( 49>6-+>4.
+&)5-7%$2( 1%-7( 49>6-+>4( +=( >#8+#4
>)>3$0&)( %&*+,*)>)&-.( 0&2( +&)5-7%$2
1%-7(0&():0&-7)>0?(V70-)*)$(-7)(%&%-%0,
49>6-+>4( 0$).( -7)%$( $06%2( 6$+'$)44%+&.
-7)( 022%-%+&( +=( &)1( 4%'&4.( 4)*)$)( 60%&.
0&2( 8+&4-%-#-%+&0,( 49>6-+>4( 47+#,2
0,)$-(+&)(-+(-7)(+&4)-(+=(0(4)*)$)(2%4)04)?
2<B9A7><H+$7H@>AH
7,89:;+!#=" %II?>9JK+B>+BK7+I9B@7AB+N@BK+7I@E7?=98+A7J?>8CH@H:
D7)( )$#6-%+&( %4( %&%-%0,,9( 49>>)-$%80,,9
M-(%4(&+1(1),,()4-03,%47)2(-70-(-7%4(+,%'+5 '%4-(1%,,(70*)(0(46)8%<8($+,)(%&(-7)(>0&5 2%4-$%3#-)2(+&(-7)(=08).(-7)(#66)$(-$#&R.
8,+&0,( G"Zf( ):60&4%+&( 8+$$)46+&24( -+( 0 0')>)&-(+=(60-%)&-4(1%-7(^_(HN%'?(Ud5@J? 0&2(-7)(6$+:%>0,():-$)>%-%)4?(D7)(2%4-0,
2$#'546)8%<8.( >0/+$( 7%4-+8+>60-%3%,%-9 6+$-%+&4(+=(-7)(0$>4(04(1),,(04(-7)(,)'4
8+>6,):P$)4-$%8-)2( 89-+-+:%8%-9( 0'0%&4- 0$)( $),0-%*),9( 460$)2.( 3#-( -7)( $047( 80&
R)$0-%&+89-)4?( N#$-7)$>+$).( $)'#,0-+$9 0@HB>?C
$06%2,9( ):-)&2( -+( -7)( $)4-( +=( -7)( 3+29
G"QfG"CSf( D( 8),,4( 70*)( 3))&( 2)>+&5 ^_(8,%&%80,,9(3)'%&4(1%-7%&(Z(1))R4(H#4#5 1%-7%&( 0( =)1( 2094( 0&2( )*)&( 1%-7%&( 0
4-$0-)2(-+(3)(6+-)&-%0,,9(%>6+$-0&-(%&(-7) 0,,9(Q(-+(UI(2094J(0=-)$(-7)(+&4)-(+=(2$#' =)1( 7+#$4?( D7)( %&%-%0,( 4R%&( ,)4%+&4( 0$)
6$)*)&-%+&( +=( 4)*)$)( )6%2)$>0,( 20>0') ):6+4#$)?( a&,9( %&( *)$9( $0$)( 804)4( 1%-7 870$08-)$%B)2( 39( )$9-7)>0-+#4.( 2#4R9
%&2#8)2(39($)08-%*)(89-+-+:%8(D(,9>67+5 6$%+$( $)08-%+&( 0&2( %&02*)$-)&-( $)870,5 $)2.(6#$6#$%8(>08#,)4.(%$$)'#,0$,9(4706)2.
89-)4?Q@(M>6+$-0&-(89-+R%&)4(4#87(04(%&-)$5 ,)&')(1%-7(-7)(40>)(2$#'(2+)4(%-(066)0$ 17%87( 6$+'$)44%*),9( 8+0,)48)?( K-96%80,
,)#R%&(!.(-#>+$(&)8$+4%4(=08-+$5 (HD_N5 J. >+$)( $06%2,9.( 1%-7%&( 0( =)1( 7+#$4?( _+&5 -0$')-( ,)4%+&4( 1%-7( 20$R( 8)&-)$4( 0$)( +=5
0&2( N04( ,%'0&2( HN045\J( 0$)( 0,4+( 6$)4)&-( %& 46)8%<8( 49>6-+>4( 4#87( 04( =)*)$.( 7)025 -)&(+34)$*)2(HN%'?(Ud5CKJ?(G+&L#)&8)(+=
-7)( ,)4%+&0,( 4R%&( +=( ^_( 60-%)&-4?( [%0$2( )-
0,?( 4#'')4-)2( -70-( R)$0-%&+89-)( 06+6-+4%4
%&( ,)4%+&0,( 4R%&( 104( 044+8%0-)2( 1%-7( %&5
8$)04)2( ):6$)44%+&( +=( N04( +&( -7)%$( >)>5
3$0&)4(0&2(104(3,+8R)2(39(7%'7(8+&8)&5
-$0-%+&4( +=( 7#>0&( %>>#&+',+3#,%&4( -70-
%&-)$=)$)( 1%-7( -7)( %&-)$08-%+&( +=( N04( 0&2
N045\?QC( D_N( %4( 6$+303,9( 0,4+( %>6+$-0&-?
D7%4( >+,)8#,)( %4( 6$)4)&-( %&( ,)4%+&0,( )6%5
2)$>%4.( %&( 3,%4-)$( L#%2.( 0&2( %&( 6)$%67)$0,
>+&+,)0$(8),,4(0&2(>08$+670')4?QU.QQ
A,+1( 08)-9,0-%+&( 104( =+#&2( %&( 605
-%)&-4( 1%-7( 4#,=+&0>%2)5%&2#8)2( D^_.
17%87(4#'')4-4(0&(%&8$)04)2(6$+2#8-%+&
+=( $)08-%*)( >)-03+,%-)4?QS( F+1)*)$.( -7)
%>>#&+,+'%8($)46+&4)(%4(2%$)8-)2(0'0%&4-
-7)( 60$)&-( 2$#'( $0-7)$( -70&( $)08-%*)
>)-03+,%-)4?QI C
N%&0,,9.( ')&)-%8( 4#48)6-%3%,%-9( 8+#,2 Q
6,09(0&(%>6+$-0&-($+,)?(K(4-$+&'(044+8%05
-%+&( 104( +34)$*)2( %&( F0&( G7%&)4)( 3)5
-1))&( -7)( 7#>0&( ,)#R+89-)( 0&-%')&
F\K5E@SIC( 0&2( A`A( %&2#8)2( 39( 80$305
>0B)6%&)(0&2(3)-1))&(F\K5ESZI@(0&2
A`A( %&2#8)2( 39( 0,,+6#$%&+,?Q!.QT( F+15
)*)$.( -7)( 044+8%0-%+&( 3)-1))&( 80$305 7,89:;+!#=5 CY+ .9?8C+ 7?<IB@>A:+ .?CBK7=9G
>0B)6%&)5%&2#8)2( ^_( 0&2( F\K5E@SIC
B><H+ E<HRC+ ?7E+ =9J<87H+ Sc9B+ 9BCI@J98+ B9?P7B+ 87G
%4(&+-(6$)4)&-(%&(^#$+6)0&(60-%)&-4(17+
H@>AHT+BK9B+I?>P?7HH@Q78C+J>987HJ7+9AE+HK>N+7I@G
2+(&+-(70*)(K4%0&(0&8)4-$9?QZ
E7?=98+ E7B9JK=7AB:+ QY+ %EQ9AJ7E+ 7?<IB@>A:
/8@HB7?H+ 9AE+ 7I@E7?=98+ E7B9JK=7AB+ K9Q7+ 87E+ B>
2$!"!2%$+#!",!";- 89?P7+J>Ac<7AB+7?>H@>AH:+2Y+#<88GF8>NA+7I@E7?=98
^*)&(%&(804)4($);#%$%&'(%>>)2%0-)($)=)$5 A7J?>8CH@H+ JK9?9JB7?@^7E+ FC+ 89?P7+ 7?>H@Q7+ 9?79H
$0,(-+(46)8%0,%B)2(10$24.(-7)(2)$>0-+,+5 2 ?7=@A@HJ7AB+>L+HJ98E@AP:
!?"
%2,9(0=-)$(-7)( +&4)-(+=(4R%&(%&*+,*)>)&-.
%-(104(044+8%0-)2(1%-7(6++$(6$+'&+4%4?(M&
-7)( 804)( +=( $)46%$0-+$9( 03&+$>0,%-%)4.( <5
3)$+6-%8( 3$+&87+48+69( 066)0$4( -+( 3)( 0
4%>6,)(6$+8)2#$)(-+(2%4-%&'#%47(0(46)8%<8
)6%-7),%0,( 2)-087>)&-( %&( -7)( 3$+&87%
=$+>( 0&( %&=)8-%+#4( 6&)#>+&%-%4.( 17%87
704(0(>#87(3)--)$(6$+'&+4%4?
]04-$+%&-)4-%&0,( -$08-( %&*+,*)>)&-( %4
,)44(8+>>+&,9(+34)$*)2.(1%-7()6%-7),%0,
&)8$+4%4(+=(-7)()4+670'#4.(4>0,,(3+1),.
+$(8+,+&(>0&%=)4-%&'(04(6$+=#4)(2%0$$7)0
1%-7( >0,034+$6-%+&.( >),)&0.( 0&2( )*)&
C 8+,+&%8(6)$=+$0-%+&?S@.SC
O)&0,(%&*+,*)>)&-(704(3))&($)6+$-)2?
i$+-)%&#$%0.( >%8$+0,3#>%&#$%0.( 7)>05
7,89:;+!#=! .9?8C+7O9ABK7=9B><H+IK9H7+N@BK
-#$%0.( 0&2( 0B+-)>%0( 0$)( &+-( $0$)?( i$+:%5
"@R>8HRC+H@PA: >0,( -#3#,)( 20>0')( 80&( $)4#,-( =$+>( &)5
8$+4%4( +=( -#3#,)( 8),,4( 39( -7)( 40>)
&)8$+-%8( ,)4%+&4( ,)024( -+( ):-)&4%*)( 0&2 6$+8)44( -70-( 2)4-$+94( )6%2)$>0,( 8),,4?
2%==#4)()$9-7)>0?(_%R+,4R9(4%'&.(+$(2%45 D7)( %&*+,*)>)&-( +=( ',+>)$#,0$( 4-$#85
,+2')>)&-( +=( -7)( )6%2)$>%4( 39( ,0-)$0, -#$)4(%4(0,4+(6+44%3,)?SU.SQ
6$)44#$).( %4( 6+4%-%*)( +&( )$9-7)>0-+#4
B+&)4( HN%'?( Ud5UJ?( K-( -7%4( 4-0').( -7)( ,)5
4%+&4( )*+,*)( -+( L088%2( 3,%4-)$4.( 17%87 $%/()%'()*+'.-'-
46$)02( 1%-7( 6$)44#$)( 0&2( 3$)0R( )04%,9
H4)) N%'?(Ud5CEJ?(D7)(&)8$+-%8()6%2)$>%4
$9F>?9B>?C+398<7H
%4( )04%,9( 2)-087)2( 0-( 6$)44#$)( 6+%&-4( +$ ^*0,#0-%+&( +=( $)46%$0-+$9( $0-)( 0&2( 3,++2
39( =$%8-%+&0,( -$0#>0.( $)*)0,%&'( ,0$')( 0$5 Q +:9')&0-%+&(0$)(0>+&'(-7)(<$4-(4-)64(-+
)04( +=( ):6+4)2.( $)2.( 4+>)-%>)4( ++B%&' -0R)( %&( -7)( )>)$')&89( $++>?( K&9( 0,-)$5
7,89:;+!#=> CY+.OB7AH@Q7+7?>H@>AH+9AE+A7JG
2)$>%4( H4))( N%'?( Ud5CGJ?( M&( +-7)$( 0$)04. 0-%+&( 47+#,2( 3)( 87)8R)2( -7$+#'7( >)05
?>H7H+>L+BK7+8>N7?+8@I+9AE+>?98+=<J>H9:+QY+&9HG
)6%2)$>%4(>09($)>0%&? 4#$)>)&-(+=(0$-)$%0,(3,++2('04(,)*),4?(A)5
i0-%)&-4( 0$)( 8,044%<)2( %&-+( +&)( += H@Q7+7?>H@>AH+J>Q7?7E+FC+J?<HBH+>A+BK7+8@IH:+">B7
$#>( 3%80$3+&0-)( ,)*),4( 3),+1( CI( >G
-7$))('$+#64(088+$2%&'(-+(-7)(-+-0,(0$)0 98H>+HK7EE@AP+>L+7C789HK7H:
%&2%80-)( 0( 6++$( 6$+'&+4%4?( D7)9( #4#0,,9
%&( 17%87( -7)( )6%2)$>%4( %4( 2)-087)2( +$ $)4#,-( =$+>( $)46%$0-+$9( 0,R0,+4%4( $),0-)2
W2)-08703,)X( H6+4%-%*)( _%R+,4R9Jl( A`A. 8+&/#&8-%*0,( ,)4%+&4.( >0%&,9( >0&%=)4-)2 -+( -7)( 46)8%<8( %&*+,*)>)&-( +=( 3$+&87%
,)44( -70&( @I( 6)$8)&-( +=( 3+29( 4#$=08) 39(796)$)>%0.()$+4%+&4.(87)>+4%4.(67+-+5 0&2(>+$)($0$),9(=$+>(>)-03+,%8(08%2+4%4?
0$)0( HEAKJe( A`AmD^_( +*)$,06.( 3)-1))& 67+3%0.( 0&2( ,08$%>0-%+&?( D7)$)( >09( 3) Y044%*)( -$0&42)$>0,( L#%2( ,+44( %4( $)5
@I( 6)$8)&-( 0&2( UI( 6)$8)&-e( D^_.( >+$) 47)22%&'(+=()9),047)4(H4))(N%'?(Ud5QEJ?(A)5 46+&4%3,)(=+$(),)8-$+,9-)(%>30,0&8)4.(795
-70&(UI(6)$8)&-(+=(EAK?(G+$$)8-()*0,#05 *)$)(=+$>4(>09(,)02(-+(8+$&)0,(#,8)$0-%+&. 6+0,3#>%&)>%0.( 0&2( 796+6$+-)%&)>%0.
-%+&(+=(-7)():-)&-(+=(,)4%+&4(%4(2%=<8#,-. 0&-)$%+$(#*)%-%4.(0&2(6#$#,)&-(8+&/#&8-%*%5 0&2(>%,2(0&2(-$0&4%)&-($)&0,(%&4#=<8%)&89
)46)8%0,,9(%&(B+&)4(1%-7(46+--9(,)4%+&4? -%4?( A9&)87%0)( 3)-1))&( )9),%24( 0&2( 8+&5 0&2( 6$)$)&0,( 0B+-)>%0( 0$)( 8+>>+&?
M-( %4( 7),6=#,( -+( $)>)>3)$( -70-( -7)( 4#$5 /#&8-%*0(+=-)&(+88#$?(A7)22%&'(+=(&0%,4(+85 O0%4)2( 3,++2( #$)0( &%-$+')&( ,)*),( %4( +&)
=08)(+=(+&)(70&2(H60,>(0&2(<&')$4J($)65 8#$4(%&(4)*)$)(=+$>4? >0$R)$(+=(4)*)$%-9?(K&)>%0(%4(#4#0,.(0&2
$)4)&-4(0(,%--,)(,)44(-70&(@(6)$8)&-(+=(-7) >%,2(,)#R+89-+4%4(04(1),,(04(-7$+>3+895
EAK? -+6)&%0(>09(+88#$?(_)#-$+6)&%0(%4(+=-)&
.OB?9G2<B9A7><H+-C=IB>=H 8+&4%2)$)2( -+( 3)( 0&( #&=0*+$03,)( 6$+'5
&<J><H+&7=F?9A7+!AQ>8Q7=7AB ^_( %4( 044+8%0-)2( 1%-7( 7%'7( =)*)$.( 60%&. &+4-%8(=08-+$(3#-(%4(-++($0$)(-+(70*)(0(4%'5
0&2( 1)0R&)44?( [%48)$0,( %&*+,*)>)&-( %4 &%<80&-(%>608-(+&(AGaOD^_?(D$0&4%)&-
Y#8+#4( >)>3$0&)( %&*+,*)>)&-( H&)0$,9 0,4+( 6+44%3,).( 60$-%8#,0$,9( 1%-7( 6#,>+5 6)$%67)$0,( G"Qf( ,9>67+6)&%0( %4( &)0$,9
0,1094(+&(0-(,)04-(-1+(4%-)4J(%4(+34)$*)2(%& &0$9( 0&2( 2%')4-%*)( 8+>6,%80-%+&4?( ^0$,9 0,1094( 4))&( 8+&4-0&-( 0&2( %4( 044+8%0-)2
066$+:%>0-),9(dI(6)$8)&-(+=(804)4(0&2(80& 6#,>+&0$9( 8+>6,%80-%+&4( +88#$( %&( 065 1%-7(2)8$)04)2(D58),,(=#&8-%+&4?(Y%,2(),)5
6$)8)2)(+$(=+,,+1(-7)(4R%&()$#6-%+&?(M-(3)5 6$+:%>0-),9( CS( 6)$8)&-( +=( 60-%)&-4( 0&2 *0-%+&( %&( ,)*),4( +=( 7)60-%8( )&B9>)4( 0&2
'%&4( 1%-7( )$9-7)>0( =+,,+1)2( 39( 60%&=#, 0$)( )44)&-%0,,9( >0&%=)4-)2( 39( 2946&)0. 0>9,04)( H>+4-( 6$+303,9( +=( 40,%*0$9( +$%5
)$+4%+&4(+=(-7)(3#880,.(+8#,0$.(0&2(')&%-0, 3$+&87%0,( 796)$4)8$)-%+&.( 0&2( 796+:5 '%&J(0$)(=$);#)&-(3#-(1%-7+#-(%>608-(+&
>#8+40?( D7%4( #4#0,,9( ,)024( -+( %>60%$)2 )>%0(3#-(0,4+(39(7)>+6-94%4(0&2():6)85 6$+'&+4%4?( K( 796)$80-03+,%8( 4-0-)( %4( $)5
0,%>)&-0-%+&.( 67+-+67+3%0.( 8+&/#&8-%*0, -+$0-%+&( +=( 3$+&87%0,( >#8+40,( 804-4?Qd.SI 46+&4%3,)( =+$( %&7%3%-%+&( +=( %&4#,%&( 4)8$)5
49&)87%0).( 0&2( 60%&=#,( >%8-#$%-%+&?( D7) E$+&87%0,(%&*+,*)>)&-(%&(^_(%4(&+-(8+$$)5 -%+&(+$(%&4#,%&($)4%4-0&8).(17%87($)4#,-4(%&
+$0,(80*%-9(0&2(-7)(*)$>%,%+&(3+$2)$(+=(-7) ,0-)2( 1%-7( -7)( ):-)&-( +=( 4R%&( ,)4%+&4( +$ 796)$',98)>%0(0&2(+8804%+&0,,9(+*)$-(2%5
,%64(0$)(0,>+4-(%&*0$%03,9(0==)8-)2(0&2(=)05 1%-7(-7)($),0-)2(+==)&2%&'(0')&-?(M&(>+4- 03)-)4?( K( 3,++2( ',#8+4)( ,)*),( 03+*)( @Q
-#$)( 60%&=#,( 7)>+$$70'%8( )$+4%+&4(8+0-)2 804)4(87)4-($02%+'$0674(0$)(&+$>0,(+&(025 >G(%4(+&)(>0$R)$(+=(4)*)$%-9?(a-7)$(035
39( '$09%47( 17%-)( 64)#2+>)>3$0&)4( 0&2 >%44%+&(3#-(80&($06%2,9($)*)0,(%&-)$4-%-%0, &+$>0,%-%)4(%&(,03+$0-+$9(*0,#)4(>09(+85
8$#4-4( +=( -7)( ,%64( HN%'?( Ud5QK( 0&2( EJ?( K65 49&2$+>)?( M&( 0,,( $)6+$-)2( 804)4.( 17)& 8#$.( %&2%80-%&'( %&*+,*)>)&-( +=( +-7)$( +$5
6$+:%>0-),9( ZS( 6)$8)&-( +=( 60-%)&-4( 70*) 08#-)( $)46%$0-+$9( =0%,#$)( 2)*),+6)2( $065 '0&4(0&2(8+>6,%80-%+&4(4#87(04(4)64%4?
!?5
4%+&( +=( 4R%&( ,)4%+&4( 0&2( -7)( 4)*)$%-9( +=
>#8+#4(>)>3$0&)(%&*+,*)>)&-(47+#,2
$0%4)(-7)(6$+303%,%-9(+=(^_?
M&( 0,,( 046)8-4.( %&8,#2%&'( 60-7+,+'9.
')&)$0,%B)2( 3#,,+#4( <:)2( 2$#'( )$#6-%+&
H]EN"^J( $)4)>3,)4( ^_?( M-( >09( 70*)( 0
4%>%,0$( 2$#'5$),0-)2( >)870&%4>?( D7)
2%4-%&8-%+&(%4(1+$-717%,).(7+1)*)$.(3)5
80#4)(]EN"^(704(0(>#87(3)--)$(6$+'&+5
4%4.( 6$+303,9( 3)80#4)( +=( -7)( >%,2( %&5
*+,*)>)&-( +=( >#8+#4( >)>3$0&)4( 0&2
-7)( 034)&8)( +=( *%48)$0,( 8+>6,%80-%+&4?
i$%+$( 0--08R4.( $06%2( +&4)-( 0=-)$( 2$#'( %&5
-0R).( 0&2( *)$9( ,0$').( 1),,52)>0$80-)2
3,%4-)$4(0$)(-7)(70,,>0$R4(+=(]EN"^?
D7)$>0,( 3#$&4( +$( 480,2%&'( 0$)( +8805
4%+&0,,9( 0&( %44#)( 17)&( 0( -$0&4%)&-( ,+44
+=(8+&48%+#4&)44(+88#$4?
")4-$#8-%+&( +=( )6%-7),%0( 39( -+:%&4.
17)-7)$(-7$+#'7(8+&-08-(H=#>%'0&-4J(+$
C Q %&')4-%+&( H8+,87%8%&)( 6+%4+&%&'.( >)-7+5
-$):0-)( +*)$2+4)J.(>09( $)4#,-( %&( 8,%&%80,
7,89:;+!#=? 0@HB>8>P@J+ 9II79?9AJ7+ >L+ B>O@J+ 7I@E7?=98+ A7J?>8CH@H:+CY+ .>H@A>IK@8@J+ A7J?>H@H+ >L+ BK7 =)0-#$)4( +=( ^_?( M&( -7)4)( $0$)( 804)4( 80#5
7I@E7?=@H+@A+BK7+I79R+HB9P7D+N@BK+8@BB87+@Ac9==9B>?C+?7HI>AH7+@A+BK7+E7?=@H:+">B7+J879Q9P7+@A+BK7+U<AJG 40,%-9(%4(')&)$0,,9(+3*%+#4?
B@>A+^>A7:+QY+'K7+J>=I87B78C+A7J?>B@J+7I@E7?=@H+K9H+E7B9JK7E+L?>=+BK7+E7?=@H+9AE+L>8E7E+8@R7+9+HK77B: a*)$$)6+$-%&'( +=( A`A( %4( 8+>>+&?( M-
#4#0,,9( 0$%4)4( =$+>( 8+&=#4%+&( 3)-1))&
2)4;#0>0-%+&( 0&2( 2)-087>)&-( +=( )6%5
0@HB>I9BK>8>PC -+#4( 6#4-#,+4%4.( -7)$>0,( 3#$&4.( 67+-+5 2)$>%4(0&2(0,4+(3)-1))&(>#8+#4(>)>5
-+:%8%-9.( +$( 6$)44#$)( 3,%4-)$4( %&( 02#,-4? 3$0&)4(0&2(6)$%+$%<8%0,(4R%&?(E)80#4)(+=
AR%&( 3%+649( =+$( $+#-%&)( 7%4-+,+'%8( 0&2 \%&)0$( %>>#&+',+3#,%&( K( 3#,,+#4( 2%45 4#87(8+&=#4%+&.(60-%)&-4(1%-7(0(2)4;#05
%>>#&+L#+$)48)&8)( 4-#2%)4( >#4-( 3) )04)( 0&2( 60$0&)+6,04-%8( 6)>67%'#4 >0-%*)($047(0&2(480,9(,%64(0$)(+8804%+&5
6)$=+$>)2( %&( )*)$9( 804)( +=( ^_.( )*)&( %= 6$)4)&-( 1%-7( 0( ,)44( 08#-)( 6$+'$)44%+&? 0,,9( 2%0'&+4)2( 1%-7( 0&2( $)6+$-)2( 04
-7)( 2%0'&+4%4( %4( 8,%&%80,,9( +3*%+#4.( 3)5 i0-7+,+'%8(<&2%&'4(0&2(0(6+4%-%*)($)4#,- 70*%&'(A`A?
80#4)(+=(0(7%'7(6$+303%,%-9(+=(=#-#$)(,)'0, +&( 2%$)8-( %>>#&+L#+$)48)&8)( -)4-%&'
08-%+&4(0&2(3)80#4)(%-(%4(-7)(+&,9(109(-+ 0$)(%>6+$-0&-(=+$(-7)4)(2%0'&+4)4?
):8,#2)(>+4-(2%==)$)&-%0,(2%0'&+4)4? ^0$,9(^_(804)4(0$)(+=-)&(%&%-%0,,9(2%0'5 2(&4$!2%'!("-
M&( -7)( )0$,9( 4-0')4.( )6%2)$>0,( %&*+,*)5 &+4)2( 04( *0$%8),,0?( D7)( $06%2( 6$+'$)45
>)&-(%4(870$08-)$%B)2(39(460$4)(06+6-+-%8 "#$%&'(-7)(08#-)(6704).(-7)(>+4-(8+>5
R)$0-%&+89-)4( %&( -7)( 4#6$03040,( ,09)$4. >+&( 8+>6,%80-%+&( +=( ^_( %4( 4)64%4?( D7)
#+,&'/)*
17%87($06%2,9( )*+,*)4( -+( 0( =#,,5-7%8R&)44 )6%-7),%0,(,+44(6$)2%46+4)4(-7)4)(60-%)&-4
^_( 0&2( 4#35)6%2)$>0,( 2)-087>)&-( HN%'? >)LL.2.$5),'*>),&$%-)-*%L*<N)/.2",'* -+( 308-)$%0,( +$( =#&'0,( %&=)8-%+&4.( 17%87
Ud5SJ?( K( >+2)$0-),9( 2)&4)( >+&+,)0$ I.42%'M-)-*F<IH 0$)(-7)(>0%&(80#4)4(+=(>+$-0,%-9?(Y#,-%5
8),,(%&<,-$0-)(+=(-7)(606%,,0$9(2)$>%4(%4(+35 !"#$%&'()*+ 494-)>( +$'0&( =0%,#$)( 0&2( 6#,>+&0$9
4)$*)2.( >0%&,9( $)6$)4)&-)2( 39( ,9>67+5 $@=@B7E+."+S-B7Q7AHGo>KAH>A+HCAE?>=7T 8+>6,%80-%+&4( 0$)( +34)$*)2( %&( >+$)
89-)4(0&2(>08$+670')4?(K>+&'(-7)(D58),, k+.?CBK7=9+=<8B@L>?=7+=9U>? -70&(UI(6)$8)&-(0&2(@S(6)$8)&-(+=(804)4.
6+6#,0-%+&.( G"Zf( ,9>67+89-)4( 1%-7 k+39?@J7889 $)46)8-%*),9?SZ( \0-)( +67-70,>%8( 8+>6,%5
67)&+-96%8(=)0-#$)4(+=(89-+-+:%8(8),,4(0$) a@E7HI?79E+." 80-%+&4(0$)(4))&(%&(CI(6)$8)&-(-+(TS(6)$5
8,)0$,9($)6$)4)&-)2.(17%87(4#'')4-4(0(8),,5 k+%J<B7+P7A7?98@^7E+7O9ABK7=9B><H+ 8)&-( +=( 60-%)&-4( 1%-7(^_?SdP!@( D7)( $),05
>)2%0-)2( %>>#&+,+'%8( $)08-%+&?UT.SS( ^+5 I<HB<8>H@H -%+&47%6( 3)-1))&( -7)( %&%-%0,( 4)*)$%-9( +=
4%&+67%,4(4))>4(-+(3)(,)44(8+>>+&(%&(605 k+;7A7?98@^7E+F<88><H+MO7E+E?<P+7?<IB@>A +8#,0$( %&*+,*)>)&-( 0&2( -7)( 2)*),+65
-%)&-4( 1%-7( -7)( >+4-( 4)*)$)( =+$>( += >)&-( +=( ,0-)( 8+>6,%80-%+&4( 4))>4( &+1
,"-#'.)/ -+(3)( 1),,()4-03,%47)2?(\0-)(+67-70,>%8
^_?S!.ST(O)4#,-4(+=(2%$)8-(%>>#&+L#+$)45
49?9A7>I89HB@J+I7=IK@P<H 8+>6,%80-%+&4( 0$)( >0%&,9( 2#)( -+( =#&85
8)&8)(4-#29(0$)(&)'0-%*)?
$@A79?+@==<A>P8>F<8@A+%+F<88><H+E@H79H7 -%+&0,(0,-)$0-%+&(+=(-7)(8+&/#&8-%*0,()6%5
4?7HH<?7+F8@HB7?H+9LB7?+J>=9 -7),%#>(1%-7(2$9&)44(0&2(03&+$>0,(,085
4K>B>B>O@J+?79JB@>A $%>0,( <,>?!I( D7%4( ,)024( -+( 87$+&%8
,!##.)."'!%$+,!%;"(-!- ;?9LBGQ7?H<HGK>HB+E@H79H7
HE+:(Ud5@J %&L0>>0-%+&.(<3$+4%4.()&-$+6%+&.(-$%87%5
0*12+#%34*)%54$ 04%4.(0&2(49>3,)670$+&?(\+&'5-)$>(%$$%5
D7)( 034)&8)( +=( >#8+#4( >)>3$0&)( %&5 -B9IKC8>J>JJ98+HJ98E7E+HR@A+HCAE?>=7 -0-%+&(0&2(2)<8%)&89(+=(4-)>(8),,4(%&(-7)
*+,*)>)&-( +$( %-4( $)4-$%8-%+&( -+( 0( 4%&',) 'K7?=98+F<?AH ,%>3#4( >09($)4#,-( %&(>)-06,04%0( +=( 8+$5
4%-)( >#4-( 0,1094( $0%4)( -7)( 4#46%8%+&( += -R@A+A7J?>H@H+L?>=+E@HH7=@A9B7E+@AB?9Q9HG &)0,()6%-7),%#>(1%-7(60%&=#,(#,8)$0-%+&4
0&( 0,-)$&0-%*)( 2%0'&+4%4l( 4-0679,+8+880, J<89?+J>9P<89B@>A+>?+I<?I<?9+L<8=@A9AH 0&2(0,-)$)2(*%4%+&?
480,2)2( 4R%&( 49&2$+>)( %&( %&=0&-4e( 6#$5 2K7=@J98+B>O@J@BC+S7:P:D+J>8JK@J@A7+@AB>O@J9G F96+6%'>)&-0-%+&( 0&2m+$( 796)$6%'5
6#$0( =#,>%&0&4( %&( 87%,2$)&( 0&2( 9+#&' B@>AD+=7BK>B?7O9B7+>Q7?E>H7T >)&-0-%+&( 0$)( =$);#)&-,9( +34)$*)2.( 3#-
02#,-4e( 08#-)( ')&)$0,%B)2( ):0&-7)>05 $0$),9( 044+8%0-)2( 1%-7( 796)$-$+67%8( +$ !?!
0-$+67%8( 480$4?( _0%,( 870&')4.( %&8,#2%&' -C=IB>=9B@J+'?79B=7AB -I7J@MJ+'?79B=7AB
870&')(%&(6%'>)&-0-%+&(+=(-7)(&0%,(3)2.
$%2'%&'.(294-$+67%8(&0%,4.(0&2(6)$>0&)&- a&,9(60-%)&-4(1%-7(,%>%-)2(4R%&(%&*+,*)5 E)80#4)( +=( -7)( %>6+$-0&8)( +=( %>>#&+5
0&+&987%0.( +88#$( %&( >+$)( -70&( SI( 6)$5 >)&-( 0&2( 0( AGaOD^_( 48+$)( +=( I( +$( @ ,+'%8( 0&2( 89-+-+:%8( >)870&%4>4.( 0( ,0$')
8)&-(+=(804)4? 80&(3)(-$)0-)2(%&(&+&546)8%0,%B)2(10$24? &#>3)$( +=( %>>#&+4#66$)44%*)( 0&2m+$
[#,*0$( 0&2( *0'%&0,( 8+>6,%80-%+&4( += a-7)$4( 47+#,2( 3)( -$0&4=)$$)2( -+( %&-)&5 0&-%5%&L0>>0-+$9( -7)$06%)4( 70*)( 3))&
^_( 70*)( 3))&( #&2)$)4-%>0-)2?!C( "945 4%*)(80$)(#&%-4(+$(3#$&(8)&-)$4? -$%)2(-+(70,-(-7)(6$+'$)44%+&(+=(-7)(2%4)04)?
60$)#&%0( %4( &+-( $0$)( 0&2( %4( $),0-)2( -+ A#66+$-%*)( 80$)( 8+&4%4-4(+=( >0%&-0%&5 _+&)(704( 8,)0$,9(6$+*)2( %-4()=<8089?( D7)
*0'%&0,( 2$9&)44.( %-87%&'.( 60%&.( 0&2 %&'( 7)>+29&0>%8( );#%,%3$%#>( 0&2( 6$)5 ,+1(6$)*0,)&8)(+=(-7)(2%4)04)(>0R)4($0&5
3,))2%&'?(])&%-0,(027)4%+&4(>09(,)02(-+ *)&-%&'( ,%=)5-7$)0-)&%&'( 8+>6,%80-%+&4? 2+>%B)2(8,%&%80,(-$%0,4(70$2(-+(6)$=+$>?
-7)( $);#%$)>)&-( =+$( 4#$'%80,( -$)0->)&-? D7)( 0%>4( 0$)( 304%80,,9( -7)( 40>)( 04( =+$
):-)&4%*)(3#$&4? 2I:H,2ILH;:I,KL D7)( #4)( +=( 494-)>%8
^4+670')0,.( %&-)4-%&0,.( 3$+&87%0,.( #$)5
^_( %4( 044+8%0-)2( 1%-7( 4%'&%<80&-( L#%2 8+$-%8+4-)$+%24(%4(4-%,,(8+&-$+*)$4%0,?(A+>)
-7$0,.( 0&2( 0&0,( 4-$%8-#$)4( >09( 0,4+( 2)5
,+44( =$+>( )$+4%+&4.( 17%87( $)4#,-4( %& 4-#2%)4(=+#&2(-70-(4#87(-7)$069(8+#,2(6$)5
*),+6(%&($0$)(804)4?
796+*+,)>%0( 0&2( ),)8-$+,9-)( %>30,0&8)? *)&-( -7)( ):-)&4%+&( +=( -7)( 2%4)04)( 17)&
E)80#4)( -7)4)( ,0-)( 8+>6,%80-%+&4( 0&2
N,#%2( $)6,08)>)&-( >#4-( 3)( 4-0$-)2( 04 '%*)&( 2#$%&'( -7)( )0$,9( 6704)?!Q.!S( a-7)$
4);#),0)( >09( 2)*),+6( %&4%2%+#4,9.( %-( %4
4++&(04(6+44%3,)(0&2(02/#4-)2(20%,9?([+,5 4-#2%)4( 8+&8,#2)2( -70-( 4-)$+%24( 2%2( &+-
4-$+&',9( 4#'')4-)2( -70-( 0,,( 60-%)&-4( 4#$5
#>)4( +=( %&=#4%+&4( 0$)( #4#0,,9( ,)44( -70& 4-+6( -7)( 6$+'$)44%+&( +=( -7)( 2%4)04)( 0&2
*%*%&'( ^_( 70*)( 0( 8,%&%80,( =+,,+15#6( 0
=+$(3#$&4(+=(4%>%,0$():-)&-.(3)80#4)(%&-)$5 1)$)()*)&(044+8%0-)2(1%-7(%&8$)04)2(>+$5
=)1(1))R4(0=-)$(2%4870$').(%&8,#2%&'():5
4-%-%0,()2)>0(%4(034)&-?(i)$%67)$0,(*)&+#4 -0,%-9(0&2(02*)$4)()==)8-4.(60$-%8#,0$,9(4)65
0>%&0-%+&(39(0&(+67-70,>+,+'%4-?
,%&)4( 0$)( 6$)=)$$)2( 17)&( 6+44%3,).( 3)5 4%4?!!.!T( N#$-7)$>+$).( >0&9( 804)4( 70*)
A9>6-+>4( 4#'')4-%&'( 6+4-5-$0#>0-%8
80#4)(-7)(4%-)4(+=(%&4)$-%+&(+=(8)&-$0,(,%&)4 3))&( $)6+$-)2( %&( 60-%)&-4( 0,$)029( -$)0-)2
4-$)44(2%4+$2)$(0$)(&+-($0$).(0&2(64987%5
0$)(+=-)&(%&*+,*)2(%&(2)-087>)&-(+=()6%5 1%-7( 8+$-%8+4-)$+%24.!Z.!d( 17%87( >09( %&5
0-$%8(8+&4#,-0-%+&(>09(3)(&)8)440$9?
2)$>%4(0&2(6$+&)(-+(%&=)8-%+&? 8$)04)( -7)( $%4R( +=( ^_?CI( D7#4.( 494-)>%8
D7)()&*%$+&>)&-0,(-)>6)$0-#$)(47+#,2 8+$-%8+4-)$+%24( 80&&+-( 3)( $)8+>>)&2)2
4)(;"(-!-+%",+ 3)( $0%4)2( -+( CZkG( -+( UIkG( HZC?QkN( -+ 04(-7)(>0%&4-09(-$)0->)&-(+=(^_?
2$!"!2%$+2(1)-. Z!kNJ?( D7)( #4)( +=( 0&( 0%$5L#%2%B)2( 3)2
,MH:CN;MI9L+,PP9MI8RIQ9R,M D7)(6$+5
D7)( )6%2)$>0,( 2)-087>)&-( 6$+'$)44)4 %>6$+*)4(60-%)&-(8+>=+$-?
6+40,( -+( #4)( 7%'752+4)( %&-$0*)&+#4( %>5
=+$( S( -+( T( 2094?( D7)&.( 60-%)&-4( )&-)$( 0 ^0$,9( &#-$%-%+&0,( 4#66+$-( %4( 6$)=)$)&5
>#&+',+3#,%&(104(304)2(+&(-7)(2)>+&5
6,0-)0#( 6704).( 17%87( 8+$$)46+&24( -+ -%0,,9( 6$+*%2)2( 39( &04+'04-$%8( -#3)( -+
4-$0-%+&(-70-(N045>)2%0-)2(8),,(2)0-7(80&
6$+'$)44%*)($)5)6%-7),%0,%B0-%+&?(D7%4(80& 6$+>+-)( 7)0,%&'( 0&2( -+( 2)8$)04)( -7)
3)( 03$+'0-)2( 39( -7)( 0&-%5N04( 08-%*%-9
-0R)( 0( =)1( 2094( -+( 4)*)$0,( 1))R4.( 2)5 $%4R( +=( 308-)$%0,( -$0&4,+80-%+&( =$+>( -7)
6$)4)&-( %&( 8+>>)$8%0,( 30-87)4( +=( &+$5
6)&2%&'( +&( -7)( 4)*)$%-9( +=( -7)( 2%4)04) '04-$+%&-)4-%&0,(-$08-?
>0,( 7#>0&( %>>#&+',+3#,%&4?QC( E)&)5
0&2( -7)( 6$%+$( ')&)$0,( 8+&2%-%+&( +=( -7) D+($)2#8)(-7)($%4R(+=(%&=)8-%+&.(04)6-%8
<-4(70*)(3))&(8,0%>)2(39(4)*)$0,(4-#2%)4
60-%)&-?( "#$%&'( -7%4( 6)$%+2.( ,%=)5-7$)0-5 0&2( 80$)=#,( 70&2%&'( %4( $);#%$)2?( AR%&.
0&2(804)($)6+$-4TI.T@(3#-($)=#-)2(39(4)*5
)&%&'( 8+>6,%80-%+&4( 4#87( 04( 4)64%4( +$ 3,++2.( 0&2( #$%&)( 46)8%>)&4( 47+#,2( 3)
)$0,( +-7)$4?TCPTQ( D7#4.( %&-$0*)&+#4( %>5
494-)>%8( +$'0&( =0%,#$)( >09( +88#$?( D7) 8#,-#$)2( =+$( 308-)$%0( 0&2( =#&'%( 0-( =$)5
>#&+',+3#,%&(80&&+-(3)(8+&4%2)$)2(-7)
>+$-0,%-9($0-)(%4(S(6)$8)&-(-+(@C(6)$8)&- ;#)&-(%&-)$*0,4?
4-0&20$2(+=(80$).(3#-(%=(%-(%4(#4)2.(0(>%&%5
=+$( A`A( 0&2( >+$)( -70&( UI( 6)$8)&-( =+$ i$+679,08-%8( 0&-%3%+-%84( 0$)( &+-( %&2%5
>0,(6$)80#-%+&( %4( -+( 0*+%2( 6$)60$0-%+&4
D^_?( D7)( 6$+'&+4%4( %4( &+-( 0==)8-)2( 39 80-)2?(i0-%)&-4(47+#,2($)8)%*)(0&-%3%+-%84
-70-(0$)(6+-)&-%0,,9(&)67$+-+:%8?
-7)( -96)( +$( 2+4)( +=( -7)( $)46+&4%3,) 17)&( 8,%&%80,( %&=)8-%+&( %4( 4#46)8-)2?
2$#'( +$( -7)( 6$)4)&8)( +=( 7#>0&( %>>#5 i$+679,08-%8(0&-%8+0'#,0-%+&(%4(6$+*%2)2 2O2RILJI:,M+C G98,+46+$%&(%4(0(6+1)$5
&+2)<8%)&89( *%$#4( %&=)8-%+&( H4))( D03,) 2#$%&'(7+46%-0,%B0-%+&? =#,(%>>#&+4#66$)44%*)(0')&-(044+8%0-)2
Ud5@J?@U ^:-)&4%*)(0&2(0''$)44%*)(2s3$%2)>)&- 1%-7(3%+,+'%8()==)8-4(-70-(>09(-7)+$)-%5
+=( &)8$+-%8( )6%2)$>%4( %4( &+-( $)8+>5 80,,9(3)(#4)=#,(%&(-$)0->)&-(+=(^_l(08-%5
>)&2)2( %&( ^_( 3)80#4)( -7)( 4#6)$<8%0, *0-%+&( +=( D( 7),6)$( C( 89-+R%&)4.( %&7%3%5
').%'&."' &)8$+4%4(%4( &+-(0&(+34-08,)( -+($)5)6%-7)5 -%+&( +=( G"Zf( 89-+-+:%8( >)870&%4>4.
^_( %4( 0( ,%=)5-7$)0-)&%&'( 2%4)04)( -70-( $)5 ,%0,%B0-%+&.( 0&2( >%'7-( )*)&( 088),)$0-) 0&2(0&-%506+6-+-%8()==)8-(-7$+#'7(%&7%3%5
;#%$)4( +6-%>0,( >0&0')>)&-l( )0$,9( $)85 -7)(6$+,%=)$0-%+&(+=(4-)>(8),,4(2#)(-+(-7) -%+&( +=( N045\.( ,)0$( =08-+$( ( E.( 0&2
+'&%-%+&(0&2(1%-72$010,(+=(-7)(+==)&25 %&L0>>0-+$9(89-+R%&)4? D_N5 ?( A)*)$0,( 804)( $)6+$-4( 0&2( 4)$%)4
%&'( 2$#'H4J( 0&2( 4#66+$-%*)( 80$)( %&( 0& D7)$)(%4(&+(4-0&20$2(6+,%89(+&(1+#&2 4#'')4-( -7)( )=<8089( +=( 898,+46+$%&
066$+6$%0-)(7+46%-0,(4)--%&'? 2$)44%&'4(0&2(-7)(#4)(+=(0&-%4)6-%84?(M-(%4 K?TS.T!(F+1)*)$.(6$+46)8-%*)(4-#2%)4(0$)
i$+>6-( 1%-72$010,( +=( +==)&2%&' 0( >0--)$( +=( ):6)$%)&8)( =+$( )087( 8)&-)$? &))2)2( -+( 8+&<$>( %-4( 3)&)<-4( 0&2( -7)
0')&-4( %4( 044+8%0-)2( 1%-7( 0&( %&8$)04)2 AR%,,=#,&)44( +&( -7)( 60$-( +=( 46)8%0,%B)2 034)&8)(+=(4%'&%<80&-(02*)$4)()==)8-4?
$0-)( +=( 4#$*%*0,( %&( 60-%)&-4( 1%-7( ^_( %&5 &#$4)4.(80$)=#,(>0&%6#,0-%+&.(0&2(0&(0'5
2#8)2( 39( 2$#'4( 1%-7( 47+$-( ),%>%&0-%+& '$)44%*)( 6$+-+8+,( +=( 6$)*)&-%+&( 0&2 JRCLPCJ$;:;L,L+I:+$;PIK,CROL,L D7)
70,=5,%*)4?!U( a&( -7)( +-7)$( 70&2.( %-( %4 -$)0->)&-(+=(60%&(0$)()44)&-%0,? $0-%+&0,)(=+$(#4%&'(6,04>067)$)4%4(+$(7)5
6$)=)$03,)( -+( 8+&-%&#)( )*)$9( %>6+$-0&- ^9)4( 47+#,2( 3)( ):0>%&)2( 20%,9( 39( 0& >+2%0,94%4(%4(-+(6$+>6-(-7)($)>+*0,(+=(-7)
0&2( &+&54#46)8-)2( >)2%80-%+&?( D70- +67-70,>+,+'%4-?( K$-%<8%0,( -)0$4.( 0&-%3%5 +==)&2%&'(>)2%80-%+&.(%-4(>)-03+,%-)4.(+$
1%,,(0*+%2($),#8-0&8)(+&(-7)(60$-(+=(-7) +-%8(+$(0&-%4)6-%8()9)2$+64.(0&2(*%-0>%&(K %&L0>>0-+$9(>)2%0-+$4(4#87(04(89-+R%&)4?
60-%)&-c4(6794%8%0&4(-+(6$)48$%3)(-7)>(%& 0$)(+=-)&(#4)2()*)$9(C(7+#$4(%&(-7)(08#-) A>0,,(4)$%)4($)6+$-)2(-7)%$()=<8089(0&2
-7)(=#-#$)?(M&(804)(+=(2+#3-.(0,,(&+&P,%=)5 6704).(0&2(>)870&%80,(2%4$#6-%+&(+=()0$,9 40=)-9(%&(-$)0-%&'(^_?TTPTd(G+&4%2)$%&'(-7)
4#4-0%&%&'(2$#'4(47+#,2(3)(4-+66)2.(0&2 49&)87%0)(%4(%&2%80-)2?(D7)(>+#-7(47+#,2 034)&8)(+=()*%2)&8)(0&2(-7)($%4R4(044+8%5
60$-%8#,0$,9( -7+4)( 02>%&%4-)$)2( 1%-7%& 3)( $%&4)2( 4)*)$0,( -%>)4( 0( 209( 1%-7( 0&-%5 0-)2(1%-7(%&-$0*048#,0$(80-7)-)$4.(7+1)*)$.
!?> -7)(6$)*%+#4(Z(1))R4? 4)6-%8(+$(0&-%=#&'0,(4+,#-%+&? -7)4)(-$)0->)&-4(80&&+-(3)($)8+>>)&2)2?
CMH,iH9PI:+ M;2:IL,L+ 7C2HI:+ C8;MHL 4%>%,0$%-%)4?( K4( 0&( ):0>6,).( -7)$)( %4( &+ 7+46%-0,%40-%+&(-+(6$)2%8-(-7)(6$+'&+4%4
K&-%5D_N( >+&+8,+&0,( 0&-%3+2%)4( 70*) )*%2)&8)( -70-( 60-%)&-4( 17+( ):6)$%)&8)2 +=()6%2)$>0,(&)8$+,94%4?(;(-+&'0$(O'2)!$/4
!*$lCTC.(CII!
3))&(4#88)44=#,,9(#4)2(-+(-$)0-(0(=)1(605 A`A( +$( D^_( %&( $)08-%+&( -+( 0&( 0&-%5%&=)85 CI? O+#/)0#( `G( )-( 0,l( Y)2%80-%+&( #4)( 0&2
-%)&-4?(E)80#4)(0(6$%+$($0&2+>%B)2(8+&5 -%+#4(4#,=+&0>%2)(0$)(0-(%&8$)04)2($%4R(=+$ -7)( $%4R( +=( A-)*)&45`+7&4+&( 49&2$+>)
-$+,,)2(-$%0,(+=(-70,%2+>%2).(0&(0&-%5D_N $)08-%+&( -+( 4#,=+&0>%2)5$),0-)2( 2%#$)-%84 +$( -+:%8( )6%2)$>0,( &)8$+,94%4?( E( I+.4( ;
0')&-.(702(-+(3)(%&-)$$#6-)2(2#)(-+(4%'5 +$(0&-%2%03)-%8(>)2%80-%+&4?(a&,9(0&-%5%&5 G'" &&&l@!II.(@ddS
&%<80&-,9(%&8$)04)2(>+$-0,%-9.QQ():-$)>) =)8-%+#4(4#,=+&0>%2)4(47+#,2(3)(8+&-$0%&5 C@? K#;#%)$5"#&0&-( K( )-( 0,l( G+$$),0-%+&
3)-1))&( 8,%&%80,( 60--)$&4( 0&2( 80#4)4
80#-%+&( %4( 4#'')4-)2( %&( -7)( #4)( +=( 0&-%5 2%80-)2(%&(-7%4(4%-#0-%+&? +=( )$9-7)>0( >#,-%=+$>)( >0/+$.
D_N(0')&-4(-+(-$)0-(^_? K( ,%4-( +=( -7)( 4#46)8-)2( >)2%80-%+&H4J A-)*)&4( `+7&4+&( 0&2( -+:%8( )6%2)$>0,
0&2(>+,)8#,)4(+=(-7)(40>)(3%+87)>%80, &)8$+,94%4? <261( O'2)!$/4 !&(l@I@d.
4-$#8-#$)( >#4-( 3)( '%*)&( -+( -7)( 60-%)&- CIIC
4).3."'!(" CS? Y+8R)&70#6-(Y()-(0,l(O%4R(+=(A-)*)&45
+&( 0( 6)$4+&0,( W0,,)$'9( 80$2?X( M-( %4( 0,4+ `+7&4+&(0&2(-+:%8()6%2)$>0,(&)8$+,94%4
D7)(>+4-(%>6+$-0&-(%44#)(%4(-+()*0,#0-) *)$9(#4)=#,(-+(6$+*%2)(0(,%4-(+=(2$#'4(+= %&(&)1(#4)$4(+=(0&-%)6%,)6-%84?(E'*2/4/.,
2$#'( 80#40,%-9?( M&( *%-$+( -)4-4( +$( 60-87 8+>>+&( #4)( -70-( 80&&+-( 3)( 4#46)8-)2? $'l@@UQ.(CIIS
E)80#4)(+=($)8)&-(%&2%80-%+&4(+=(')&)-%8 U@? Y+8R)&70#6-( Y( )-( 0,l( D7)( $%4R( +=
-)4-4(-+(>)2%80-%+&4(+8804%+&0,,9(80&(3) A-)*)&45`+7&4+&( 49&2$+>)( 0&2( -+:%8
#4)=#,(%&(-7)():6,+$0-%+&(+=(2$#'(0,,)$'9? 4#48)6-%3%,%-%)4(-+(-7)(2)*),+6>)&-(+=(^_.
)6%2)$>0,( &)8$+,94%4( 044+8%0-)2( 1%-7
V7)&( #4)2( %&( ^_( 60-%)&-4.( -7)%$( 4)&4%5 6$)48$%6-%+&( +=( -7)( +==)&2%&'( 0')&-( -+ &+&4-)$+%20,(0&-%%&L0>>0-+$9(2$#'4l(K
-%*%-9(104(-++(,+1?ZI.Z@ =0>%,9(>)>3)$4(47+#,2(0,4+(3)(0*+%2)2? >#,-%&0-%+&0,( 6)$46)8-%*)?( ;( F1'*)!$/4
G0$)=#,( %&;#%$9( %&-+( 0,,( ):6+4#$)4( -+ N%&0,,9.( 6$+,+&')2( +67-70,>+,+'%8 &)lCCUQ.(CIIU
=+,,+15#6( 47+#,2( 3)( $)8+>>)&2)2( =+$ QI? _044%=(K()-(0,l("$#'(46)8%<8(89-+-+:%8(D5
>)2%80-%+&4(%&(-7)(=)1(1))R4(6$)8)2%&' 8),,4(%&(-7)(4R%&(,)4%+&4(+=(0(60-%)&-(1%-7
-7)( +&4)-( +=( -7)( $)08-%+&( ,)024( -+( -7) 60-%)&-4(1%-7()9)(49>6-+>4?([)$9(6$+>5 -+:%8()6%2)$>0,(&)8$+,94%4?( ;(-+&'0$(O'25
%2)&-%<80-%+&( +=( 0(6$+303,)( 8#,6$%-(2$#' %4%&'( -$)0->)&-4( 70*)( &+1( 3))&( 2)5 )!$/4 !!(lTCZ.(CIIC
%&( 066$+:%>0-),9( TI( 6)$8)&-( +=( 804)4? *),+6)2(=+$(-7)(+8#,0$(4);#),0)(+=(^_. Q!? G7#&'( VF( )-( 0,l( Y)2%80,( ')&)-%84l( K
%&8,#2%&'(46)8%0,(48,)$0,(,)&4)4(0&2('$0=-5 >0$R)$( =+$( A-)*)&4( `+7&4+&( 49&2$+>)?
D7)( >+4-(#4)=#,(8,%&%80,(8$%-)$%0(0$)(2#5 E!$*2' '*(lQZ!.(CIIQ
$0-%+&( +=( -$)0->)&-( 3)=+$)( +&4)-( H-96%5 %&'(+=(4-)>(8),,4(=$+>(8+&-$0,0-)$0,(,%>5
SS? G70*)(DK()-(0,l(D+:%8()6%2)$>0,(&)8$+,5
80,,9(Q(-+(UI(2094J.( 034)&8)(+=(6$%+$(%&5 3#4(+$(>+#-7(>#8+40?ZCPZQ 94%4l( G#$$)&-( )*%2)&8).( 6$08-%80,( >0&5
-0R).(0&2(#4)(+=(0(2$#'(R&+1&(=+$(3)%&' O)4-$%8-%+&(+=(4#&():6+4#$)(>09(7),6 0')>)&-( 0&2( =#-#$)( 2%$)8-%+&4?( ?2( ;
044+8%0-)2(1%-7(0(7%'7($%4R? $)4+,*)(-7)(6%'>)&-0-%+&(870&')4? O'2)!$/4 !%&lCQ@.(CIIS
(SZ? i0,>%)$%(D()-(0,l(K(>#,-%8)&-)$($)*%)1(+=
D7)( =)1( 6#3,%47)2( 804)4( +=( $)8#$$)&- -+:%8( )6%2)$>0,( &)8$+,94%4( -$)0-)2( %&
A`A(+$(D^_(1)$)(0,1094(2#)(-+(%&02*)$-5 e.*+).#.)."2.- o?A?( 3#$&( 8)&-)$4( 0-( -7)( )&2( +=( -7)
)&-( $)502>%&%4-$0-%+&( +=( -7)( 40>)( +$( 0 -1)&-%)-7( 8)&-#$9?( ;( ?*2+( B!2'( F'1!3%4
'K7+L<88+?7L7?7AJ7+8@HB+L>?+988+JK9IB7?H+ *&lZT.(CIIC
*)$9(8,+4),9($),0-)2(>)2%80-%+&?(^6%2)>%5
+,+'9(0&2(%&(*%-$+(4-#2%)4(4#'')4-(-70-(-7) @H+9Q9@89F87+9B+NNN:E@P=W:J>=: ZQ? _%47%20(b()-(0,l(G+$&)0,($)8+&4-$#8-%+&
1%-7(-%44#)()&'%&))$)2(8),,(47))-4(8+>5
,%4-(+=(6+44%3,)(8$+445$)08-%*)(>)2%80-%+&4 @!? ]#s'0&( A( )-( 0,l( i)$=+$>0&8)( +=( -7) 6+4)2(+=(0#-+,+'+#4(+$0,()6%-7),%#>?(E
%4($0-7)$(&0$$+1.(304)2(+&(8,+4)(87)>%80, AGaOD^_( 2#$%&'( -7)( <$4-( <*)( 2094( += I+.4(;(G'" &%!l@@ZT.(CIIQ
%'+%+;$%"2.+ 2$#'(2)-+:%<80-%+&.(0&-%+:%20&-(2)=)&4)4.
0&2(%>>#&)($)08-%*%-9?
D7)( 8+#$4)( 0&2( +#-8+>)( +=( 2$#'5
%&2#8)2( 2%4)04)( 0$)( 0,4+( %&L#)&8)2( 39
7+4-( =08-+$4?( a,2)$( 0')( >09( 2),09( -7)
+&4)-(+=(2$#'()$#6-%+&4(0&2(704(3))&(045
4+8%0-)2(1%-7(0(7%'7)$(>+$-0,%-9($0-)(%&
4+>)(4)*)$)($)08-%+&4?(K(7%'7)$(>+$-0,5
%-9($0-)(%4(0,4+(+34)$*)2(%&(60-%)&-4(1%-7 7,89:;+>6=" .O9ABK7=9B><H+ E?<P+ 7?<IB@>Ag
,?<PG@AE<J7E+J<B9A7><H+7?<IB@>AH+9?7+ 4)*)$)( $)08-%+&4( 17+( 70*)( #&2)$,9%&' %=I@J@88@A:+ -C==7B?@J988C+ 9??9AP7ED+ F?@PKB8C+ 7?CG
J>==>A: >0,%'&0&89?@U( O)08-%*0-%+&( +=( ,0-)&-( *%5 BK7=9B><H+=9J<87H+9AE+I9I<87HD+NK@JK+9?7+E@HG
'K7C+?9AP7+L?>=+J>==>A+A<@H9AJ7+ $0,( %&=)8-%+&( 1%-7( 7#>0&( 7)$6)4*%$#4( ! J?7B7+ @A+ H>=7+ 9?79H+ 9AE+ J>Ac<7AB+ @A+ >BK7?H+ >A
?9HK7H+B>+?9?7+8@L7GBK?79B7A@AP+E@H79H7H: 0,4+(066)0$4(8+>>+&(%&(2$#'(796)$4)&5 BK7+B?<AR+9AE+E@HJ?7B7+>A+BK7+7OB?7=@B@7H:
'K7+HI7JB?<=+>L+J8@A@J98+=9A@L7HB9B@>AH+ 4%-%*%-9( 49&2$+>)( 0&2( >09( 3)( 60$-%0,,9
@AJ8<E7H+7O9ABK7=9B><HD+<?B@J9?@98D+I<HG $)46+&4%3,)(=+$(4+>)(+=(-7)(8,%&%80,(=)05
0( 49>>)-$%8( =047%+&?( i$#$%-#4( %4( 0,>+4-
B<89?D+F<88><HD+9AE+7?CBK7=9+=<8B@L>?=7d -#$)4(0&2m+$(8+#$4)(+=(-7)(2%4)04)?@Q([%5
0,1094( 6$)4)&-?( D7)4)( )$#6-%+&4( #4#0,,9
8@R7+7?<IB@>AH: $0,(%&=)8-%+&4(>09(08-(04.(+$(')&)$0-)(-7) +88#$(1%-7%&(@(1))R(+=(%&%-%0-%+&(+=(-7)$5
6$+2#8-%+&( +=.( 20&')$( 4%'&0,4( -70-( ,)02
'K7H7+?79JB@>AH+=9C+=@=@J+>BK7?+J<B9A7G 069(0&2($)4+,*)(1%-7%&(T(-+(@Q(2094?(O)45
-+( 20>0'%&'( %>>#&)( $)46+&4)4( -+
><H+E@H79H7H+H<JK+9H+9JA7D+I>?IKC?@9D+ +,#-%+&( +88#$4( 1%-7( 0( 870&')( %&( 8+,+$
2$#'4.($0-7)$(-70&(%>>#&)(-+,)$0&8)? =$+>(3$%'7-($)2(-+(0(3$+1&%47($)2.(17%87
8@JK7A+I89A<HD+9AE+8<I<H:
D7)(60-7+')&)4%4(+=(>+4-(2$#'()$#65
#@O7E+E?<P+7?<IB@>AH+9?7+<H<988C+H>8@B9?C+ >09( 3)( =+,,+1)2( 39( 480,%&'( +$( 2)4;#05
-%+&4( %4( &+-( #&2)$4-++2.( 0,-7+#'7( -7)
E<HRC+=9J<87H+BK9B+?7J<?+9B+BK7+H9=7+ >0-%+&?( D7)( 2%==)$)&-%0,( 2%0'&+4%4( %&
8,%&%80,( =)0-#$)4( +=( >+4-( 2$#'( $)08-%+&4 -7)4)(60-%)&-4(%&8,#2)4(0(*%$0,():0&-7)>.
H@B7: 0$)( 8+&4%4-)&-( 1%-7( %>>#&)5>)2%0-)2
8+,,0')&( *048#,0$( 2%4)04).( 0&2( 308-)$%0,
,?<P+?79JB@>AH+=9C+F7+8@=@B7E+H>878C+B>+ 2%4)04)?(D7)(%>>#&)(494-)>(>09(-0$')- 0&2($%8R)--4%0,(%&=)8-%+&4?
HR@A+>?+=9C+F7+I9?B+>L+9+H7Q7?7+HCHB7=@J+ -7)( &0-%*)( 2$#'.( %-4( >)-03+,%8( 6$+2#8-4. ^:0&-7)>0-+#4( )$#6-%+&4( 80&( 3)
?79JB@>AD+H<JK+9H+E?<P+KCI7?H7AH@B@Q@BC+ 0,-)$)2( 4),=.( +$( 0( 8+>3%&0-%+&( +=( -7)4)
80#4)2( 39( >0&9( 2$#'4.( %&8,#2%&'( -7)
HCAE?>=7+>?+B>O@J+7I@E7?=98+A7J?>8CH@H: =08-+$4? 6)&%8%,,%&4.(4#,=+&0>%2)4.(&+&,)+4%2)
$)*)$4)( -$0&48$%6-04)( %&7%3%-+$4( H)?'?.
%&2#8)2( ,#6#4( -70&( %&( -7+4)( 1%-7( %2%+5 &()40($(;!2+%44)(%20+ &)*%$06%&)J.( 0&2( 0&-%5)6%,)6-%8( >)2%805
60-7%8( 494-)>%8( ,#6#4( )$9-7)>0-+4#4?Q '(+,)1;+.)14'!("- -%+&4?C( A-#2%)4( 70*)( 47+1&( -70-( 2$#'5
F\K(=08-+$4(>09(0,4+(%&L#)&8)(-7)($%4R 46)8%<8(D(8),,4(6,09(0(>0/+$($+,)(%&():0&5
+=($)08-%+&4(-+(&)*%$06%&).(03080*%$.(80$5 D7)(>+$67+,+'9(+=(8#-0&)+#4()$#6-%+&4 -7)>0-+#4.( 3#,,+#4.( 0&2( 6#4-#,0$( 2$#'
30>0B)6%&).(0&2(0,,+6#$%&+,?SPZ >09( 3)( ):0&-7)>0-+#4.( #$-%80$%0,.( 3,%45 $)08-%+&4?@S( M&( 60-%)&-4( 17+( 70*)( 8+&5
Y0&9( 2$#'4( 044+8%0-)2( 1%-7( 4)*)$) -)$%&'.(+$(6#4-#,0$?(D7)():-)&-(+=(-7)($)5 8+>%-0&-( %&=)8-%+#4( >+&+,)+4%4.( -7)
%2%+49&8$0-%8(2$#'($)08-%+&4(0$)(>)-03+5 08-%+&(%4(*0$%03,)?(N+$():0>6,).(+&8)(-7) $%4R( +=( 2)*),+6%&'( 0&( ):0&-7)>0-+#4
,%B)2( 39( -7)( 3+29( -+( =+$>( $)08-%*).( +$ >+$67+,+'9( +=( -7)( $)08-%+&( 704( 3))& )$#6-%+&( 17%,)( 3)%&'( -$)0-)2( 1%-7( 0&
-+:%8.( 2$#'( 6$+2#8-4?d( D7)4)( $)08-%*) 2+8#>)&-)2.( 0( 46)8%<8( 2%0'&+4%4( g)?'?. 0>%&+6)&%8%,,%&(H)?'?.(0>6%8%,,%&J(%&8$)04)4
6$+2#8-4(8+>6$%4)(+&,9(0(4>0,,(6$+6+$5 <:)2(2$#'()$#6-%+&(HN"^J(+$(08#-)(')&)$5 =$+>( U( 6)$8)&-( -+( T( 6)$8)&-( -+( !I( 6)$5
-%+&( +=( 0( 2$#'c4( >)-03+,%-)4( 0&2( 0$) 0,%B)2():0&-7)>0-+#4(6#4-#,+4%4(HK]^iJh 8)&-( -+( @II( 6)$8)&-?@!( K( 4%>%,0$( 2$#'5
#4#0,,9($06%2,9(2)-+:%<)2?(F+1)*)$.(605 80&( 3)( >02)?( D7)( $)08-%+&( >09( 0,4+ *%$0,(%&-)$08-%+&(704(3))&(+34)$*)2(%&(SI
-%)&-4( 1%-7( 2$#'( 796)$4)&4%-%*%-9( 49&5 6$)4)&-(04(0(49&2$+>)(H)?'?.(4)$#>(4%8R5 6)$8)&-(+=(60-%)&-4(%&=)8-)2(1%-7(7#>0&
2$+>).( D^_.( 0&2( A-)*)&45`+7&4+&( 49&5 &)44P,%R)( $)08-%+&( +$( 796)$4)&4%-%*%-9 %>>#&+2)<8%)&89( *%$#4( HFM[J( 17+( 0$)
2$+>)( HA`AJ( $)4#,-%&'( =$+>( -$)0->)&- 49&2$+>)( $)08-%+&J?( N)*)$( %4( 044+8%0-)2 ):6+4)2(-+(4#,=+&0>%2)(0&-%3%+-%84?@T
1%-7(4#,=+&0>%2)(0&-%3%+-%84(0&2(-7)(0$5 1%-7(-7)(>+$)(4)$%+#4(8#-0&)+#4(K"O4? K&( ):0&-7)>0-+#4( )$#6-%+&( %&( 8+&5
+>0-%8( 0&-%8+&*#,40&-4( H)?'?.( 80$30>0B5 /#&8-%+&(1%-7(=)*)$(0&2(%&-)$&0,(+$'0&(%&5
)6%&).( 67)&9-+%&.( 67)&+30$3%-0,.( 6$%>%5 *+,*)>)&-(H)?'?.(,%*)$.(R%2&)9.(8)&-$0,(&)$5
.O9ABK7=9B><H+.?<IB@>AH
2+&).(0&2(+:80$30B)6%&)J(47+1( '$)0-)$ *+#4( 494-)>J( 4%'&%<)4( 0( >+$)( 4)$%+#4
4)&4%-%*%-9(%&(%&(*%-$+(044)44>)&-4(-+(-7) ^:0&-7)>0-+#4()$#6-%+&4.(R&+1&(0,4+(04 $)08-%+&.( R&+1&( 04( -7)( 1,#'20'+0%$%&%$,
+:%20-%*).( $)08-%*)( >)-03+,%-)4( +=( -7)4) )/23%44%=/2)(+$()!6*4/#!#*4!2.(0$)(-7)(>+4- 0,+"2/)'( 2'!6$%/+( HFAOJ( HD03,)( QI5@J?( M-
2$#'4(-70&(2+(8+&-$+,(4#3/)8-4?@I.@@ 8+>>+&( =+$>( +=( 2$#'( )$#6-%+&4.( 085 +88#$4(%&(066$+:%>0-),9(@(%&(UIII():6+5
K8;#%$)2( =08-+$4( 0,4+( 0,-)$( 0&( %&2%*%25 8+#&-%&'(=+$(066$+:%>0-),9(dS(6)$8)&-(+= 4#$)4( -+( 0')&-4( 4#87( 04( 0$+>0-%8( 0&-%5
#0,c4($%4R(+=(2$#'()$#6-%+&?(K8-%*)(*%$0,(%&5 4R%&( $)08-%+&4C( HN%'?( QI5@J?( A%>6,)( ):0&5 8+&*#,40&-4.( ,0>+-$%'%&).( 4#,=+&0>%2)
=)8-%+&(0&2(8+&8#$$)&-(#4)(+=(+-7)$(>)2%5 -7)>4( 0$)( )$9-7)>0-+#4( 870&')4( %&( -7) 0&-%3%+-%84.( 2064+&).( &%-$+=#$0&-+%&.( &)5
80-%+&4( 70*)( 3))&( 47+1&( -+( 0,-)$( -7) 4R%&( 1%-7+#-( )*%2)&8)( +=( 3,%4-)$%&'( +$ *%$06%&).( >%&+898,%&).( 0&2( 0,,+6#$%&+,
=$);#)&89( +=( 2$#'5044+8%0-)2( )$#6-%+&4? 6#4-#,0-%+&?(D7)()$#6-%+&(-96%80,,9(4-0$-4 HN%'?( QI5CJ?( FAO( +88#$4( >+4-( =$);#)&-,9
!?< "$#'P2$#'(%&-)$08-%+&4(>09(0,4+(0,-)$(-7) +&(-7)(-$#&R(0&2(46$)024(6)$%67)$0,,9(%& +&(<$4-():6+4#$)(-+(-7)(2$#'.(1%-7(%&%-%0,
!"#$%&12)*
+')$)4,'*3.,5#2.-*%L*7.'.45./*+#5,$.%#-*=.,45)%$-*5%*>2#&-
+B!I!+6B !I0<=I6B*?=D6I
;=<7<I060!?I >=8D*<=8;0!?I 3<S<= !IS?BS<@<I0 6=0E=6BD!6 B:@;E6><I?;60E: !@;B!+60<>*>=8D7
0CI7?H7AH@B@Q@BC+HCAG .O9ABK7=D+7OL>8@9B@Q7+ 4?7H7AB 4?7H7AB %FH7AB 4?7H7AB %?>=9B@J+9AB@J>AQ<8H9ABH+S7:P:D+
E?>=7+?79JB@>A E7?=9B@B@HD+I<HB<89?+ IK7ACB>@AD+IK7A>F9?F@B98D+J9?F9G
7?<IB@>AHD+-o-f'." =9^7I@A7TD+H<8L>A9=@E7+9AB@F@G
>B@JHD+E9IH>A7D+=@A>JCJ8@A7D+
988>I<?@A>8D+89=>B?@P@A7
-7?<=+H@JRA7HHd8@R7+ 1?B@J9?@9D+7O9ABK7= 4?7H7AB %FH7AB 4?7H7AB 4?7H7AB 27L9J8>?D+J7LI?>^@8D+F<I?>I@>AD+
?79JB@>A =@A>JCJ8@A7D+@Ac@O@=9FD+?@B<O@=9F
,?<PG@AE<J7E+8<I<H 1H<988C+9FH7AB 4?7H7ABf 4?7H7ABf9FH7AB 4?7H7AB %FH7AB 4?>J9@A9=@E7D+KCE?989^@A7D+@H>G
9FH7AB A@9^@ED+=@A>JCJ8@A7D+9J7F<B>8>8
,?<PG@AE<J7E+H<FG 49I<8>Hb<9=><H+>?+ %FH7AB %FH7AB %FH7AB %FH7AB 'K@9^@E7+E@<?7B@JHD+J98J@<=+JK9AG
9J<B7+J<B9A7><H+ 9AA<89?+J<B9A7><H+87H@>A+ A78+F8>JR7?HD+%2.+@AK@F@B>?H
8<I<H+7?CBK7=9B>H<H S>LB7A+IK>B>H7AH@B@Q7T
%J<B7+P7A7?98@^7E+ ">AGL>88@J<89?+I<HB<87H+ 4?7H7AB %FH7AB %FH7AB %FH7AB +/8>JR7?HD+=9J?>8@E7+9AB@F@>B@JHD+
7O9ABK7=9B><H+I<HG >A+9A+7E7=9B><H+7?CG J98J@<=+JK9AA78+F8>JR7?H
B<8>H@H BK7=9B><H+F9H7
%2.+`+9AP@>B7AH@AGJ>AQ7?B@AP+7A^C=7[+-o-+`+-B7Q7AHGo>KAH>A+HCAE?>=7[+'."+`+B>O@J+7I@E7?=98+A7J?>8CH@H:
!3!P+`+@AB?9Q7A><H+@==<A>P8>F<8@A:
9%?>=9B@J+9AB@J>AQ<8H9ABH+`+IK7ACB>@AD+J9?F9=9^7I@A7D+IK7A>F9?F@B98D+>OJ9?F9^7I@A7D+I?@=@E>A7:
-)&-( 2%4)04)( -70-( %4( #&>04R)2( 39( -7) 67%,4.( %&-$0)6%2)$>0,( *)4%8,)4( 1%-7( =+8% 47+#,2( &+-( 3)( $)870,,)&')2( 1%-7( -7)
2$#'( ):6+4#$)e( 4))( G706?( SCJ?( "$#'5 +=( &)8$+-%8( R)$0-%&+89-)4.( -7$+>3%( %& 2$#'(+$(#&2)$'+(2)4)&4%-%B0-%+&(-7)$069
%&2#8)2( 6)>67%'#4( 80#4)2( 39( 6)&%8%,5 2)$>0,( *)44),4.( 0&2( 0( 6+44%3,)( ,08R( += 1%-7(-7)(>)2%80-%+&?
,0>%&)(0&2(+-7)$(-7%+,(2$#'4(-)&24(-+($)5 -%44#)53+#&2( 0&2( 8%$8#,0-%&'( 0&-%3040,
>%-( 46+&-0&)+#4,9( %&( US( 6)$8)&-( -+( SI >)>3$0&)(B+&)(M']?
6)$8)&-(+=(804)4.(6$)4)&-4(04(6)>67%'#4 M&( -7)( 08#-).( 4),=5,%>%-)2( 8+&2%-%+&. #@O7E+,?<P+.?<IB@>AH
=+,%08)#4.(704(0&(0*)$0')(%&-)$*0,(-+(+&5 $)4+,#-%+&(+88#$4(0=-)$(-7)(1%-72$010,(+= N"^4( #4#0,,9( 066)0$( 04( 4+,%-0$9.( )$95
4)-(+=(@(9)0$.(0&2(%4(044+8%0-)2(1%-7(-7) -7)(8#,6$%-(0')&-.(1%-7(+$(1%-7+#-(',#8+5 -7)>0-+#4.(3$%'7-($)2(+$(2#4R9($)2(>085
6$)4)&8)(+=(0&-%5,)0$(0&-%3+2%)4(%&(CS 8+$-%8+%2(-7)$069?(M&(4+>)(60-%)&-4.(7+15 #,)4(-70-(>09()*+,*)(%&-+(0&()2)>0-+#4
6)$8)&-(+=(60-%)&-4? )*)$.(-7)(2$#'(>09(08-#0,,9(-$%'')$(-7)(%25 6,0;#)e( 3#,,+#45-96)( ,)4%+&4( >09( 3)
Y+4-( 60-%)&-4( 1%-7( &+&-7%+,( 2$#'5 %+60-7%8(=+$>(+=(-7)(2%4)04)? 6$)4)&-?( N"^4( 0$)( >+4-( 8+>>+&,9
%&2#8)2( 6)>67%'#4( >0&%=)4-( 8,%&%80,. ^$9-7)>0(>#,-%=+$>)(>0/+$.(A`A.(0&2 =+#&2( +&( -7)( ')&%-0,%0( 0&2( %&( -7)( 6)$%5
7%4-+,+'%8.(%>>#&+,+'%8.(0&2()*+,#-%+&5 D^_($)6$)4)&-(*0$%0&-4(+=(-7)(40>)(2%45 0&0,(0$)0.(0,-7+#'7(-7)9(80&(+88#$(0&95
0$9(046)8-4(4%>%,0$(-+(-7+4)(+=(%2%+60-7%8 )04)( 6$+8)44?( "%==)$)&-%0-%+&( 3)-1))& 17)$)( +&( -7)( 4R%&( 4#$=08)( HN%'?( QI5SJ?
6)>67%'#4( *#,'0$%4( 1%-7( >#8+40,( %&5 -7)(-1+(60--)$&4(2)6)&24(+&(-7)(&0-#$) A+>)(60-%)&-4(>09(8+>6,0%&(+=(3#$&%&'
*+,*)>)&-( 0&2( 47+1( 0( @S( 6)$8)&-( $0-) +=( -7)( 4R%&( ,)4%+&4( 0&2( -7)( ):-)&-( += +$( 4-%&'%&'.( 0&2( +-7)$4( >09( 70*)( =)*)$.
+=( 46+&-0&)+#4( $)8+*)$9( 0=-)$( 2$#' 3+29( 4#$=08)( 0$)0( %&*+,*)>)&-UQ.US( H4))
1%-72$010,?(D$)0->)&-(+=(2$#'5%&2#8)2 G7064?(UZ(0&2(UdJ?
6)>67%'#4( 3)'%&4( 1%-7( 2$#'( 8)440-%+&? D7)(60-7+')&)4%4(+=(4)*)$)(8#-0&)+#4
A94-)>%8( ',#8+8+$-%8+%24( 0$)( +=-)&( $)5 K"O4(%4(#&R&+1&.(0,-7+#'7(0(>)-03+,%8
;#%$)2(#&-%,(0,,(49>6-+>4(+=(08-%*)(2%45 304%4( 704( 3))&( 796+-7)4%B)2?U!( M&( 022%5
)04)(2%4066)0$?([%'%,0&-(=+,,+15#6(%4($)5 -%+&.(-7)(2)-)8-%+&(+=(2$#'546)8%<8(D58),,
;#%$)2( 0=-)$( $)>%44%+&( -+( >+&%-+$( -7) 6$+,%=)$0-%+&( 6$+*%2)4( )*%2)&8)( -70-( D
60-%)&-( 0&2( -7)( 4)$#>( =+$( 0#-+0&-%3+25 8),,4(0$)(%&*+,*)2(%&(4)*)$)(4R%&($047)4?UT
%)4(-+(2)-)8-(0&()0$,9($),064)?UU D$)0->)&-( +=( )$9-7)>0( >#,-%=+$>).
"$#'5%&2#8)2(3#,,+#4(6)>67%'+%2(H4)) A`A.(0&2(D^_(%&8,#2)4(2%48+&-%�&8)(+=
G706?(SQJ(80&()&8+>6044(0(1%2)(*0$%)-9 -7)( 4#46)8-)2( 2$#'H4J( 0&2( 4#66+$-%*)
+=(6$)4)&-0-%+&4.($0&'%&'( =$+>( -7)(8,045 >)04#$)4( 4#87( 04( 80$)=#,( 1+#&2( 80$).
4%8(=)0-#$)4(+=(,0$').(-)&4)(3#,,0)(0$%4%&' 792$0-%+&.(0&2(&#-$%-%+&0,( 4#66+$-?(D7)
=$+>( 0&( )$9-7)>0-+#4.( #$-%80$%0,( 304) #4)( +=( 8+$-%8+4-)$+%24( %&( -7)( -$)0->)&-
1%-7( >+2)$0-)( %&*+,*)>)&-( +=( -7)( +$0, +=( A`A( 0&2( D^_( %4(8+&-$+*)$4%0,?UZ.Ud( M&5
80*%-9.( -7$+#'7( >%,2( =+$>4( 1%-7( =)1 -$0*)&+#4(%>>#&+',+3#,%&(HM[M'.(I?Q(-+
3#,,+#4( ,)4%+&4.( -+( 480$$%&'( 6,0;#)4( 0&2 @?I( 'mR'm209( =+$( C( -+( Q( 2094J( 704( 3))&
7,89:;+>6=? #@O7E+ E?<P+ 7?<IB@>Ag+ '7B?9JCG
&+2#,)4( 1%-7( 3#,,0)?UU( M&( 8+&-$04-( -+ 47+1&( %&( >+4-( $)6+$-4( -+( 70,-( 6$+'$)45
J8@A7:+%+N788GE7MA7E+I89b<7+>A+BK7+RA77D+=7?PG
60-%)&-4( 1%-7( -7)( %2%+60-7%8( =+$>.( 605 4%+&( +=( D^_.( )46)8%0,,9( 17)&( M[M'( %4
-%)&-4( 1%-7( 2$#'5%&2#8)2( 3#,,+#4( 6)>5 4-0$-)2( )0$,9?QI.Q@( F+1)*)$.( 4+>)( 4-#25 @AP+N@BK+BK?77+H9B788@B7+87H@>AH:+'K7+89?P7+I89b<7
67%'+%2( 0$)( ')&)$0,,9( 9+#&')$?( M&( 022%5 %)4( 70*)( &+-( =+#&2( 0&( %>6$+*)2( +#-5 7OK@F@BH+ 7I@E7?=98+ N?@AR8@APD+ 9+ H@PA+ >L+ @AJ@I@7AB
-%+&.(-7)(7%4-+60-7+,+'%8(<&2%&'4(0$)(+= 8+>)( %&( 60-%)&-4( 1%-7( D^_( 17+( 0$) F8@HB7?+L>?=9B@>A:+'K@H+N9H+BK7+H7J>AE+H<JK+7I@G
0( 6)$%*048#,0$( %&<,-$0-%+&( +=( ,9>67+5 -$)0-)2( 1%-7( M[M'?QC( i0-%)&-4( 17+( 70*) H>E7+9LB7?+@AP7HB@>A+>L+9+B7B?9JCJ8@A7:+">+>BK7?+87G
89-)4(1%-7(=)1()+4%&+67%,4(0&2(&)#-$+5 2)*),+6)2( 0( 4)*)$)( 8#-0&)+#4( K"O H@>AH+N7?7+I?7H7AB:
!?#
>0,0%4).(0&2(032+>%&0,(49>6-+>4?(N"^ )$94%6),04(>09(3)(4))&(%&(#6(-+(CS(6)$5 ,?<PG!AE<J7E+2<B9A7><H+
80&(2)*),+6(=$+>(UI(>%&#-)4(-+(Z(-+(@! 8)&-( +=( 60-%)&-4?( K&( 044+8%0-%+&( 1%-7
4H7<E>8C=IK>=9
7+#$4(0=-)$(%&')4-%+&(+=(-7)(>)2%80-%+&? 6$+-)%&(G(0&2(6$+-)%&(A(2)<8%)&8%)4():5
K=-)$( -7)( %&%-%0,( 08#-)( 6704)( ,04-%&' %4-4.( 3#-( 6$)5-$)0->)&-( 48$))&%&'( %4( &+- i4)#2+,9>67+>0(%4(0(6$+8)44(-70-(4%>5
2094(-+(1))R4.($)4%2#0,('$09%47(+$(4,0-)5 10$$0&-)2?( K&( 044+8%0-%+&( 1%-7( 7)-5 #,0-)4( ,9>67+>0( 3#-( 704( 0( 3)&%'&( 3)5
8+,+$)2( 796)$6%'>)&-0-%+&( 2)*),+64? )$+B9'+4%-9(=+$(-7)(=08-+$([(\)%2)&(>#5 70*%+$(0&2(2+)4(&+-(>))-(-7)(8$%-)$%0(=+$
a&($)870,,)&').(&+-(+&,9(2+(-7)(,)4%+&4 -0-%+&(704(3))&($)6+$-)2?QT >0,%'&0&-(,9>67+>0?("$#'4(0$)(0(1),,5
$)8#$(%&(-7)(40>)(,+80-%+&.(3#-(0,4+(&)1 D$)0->)&-( %&*+,*)4( -7)( 2%48+&-% R&+1&( 80#4)( +=( 8#-0&)+#4( 64)#2+,9>5
,)4%+&4(+=-)&(066)0$? -%+&(+=(8+#>0$%&.(02>%&%4-$0-%+&(+=(*%-05 67+>04(H4))(G706?(@QTJ.(3#-(-7)(8+&2%5
Y+$)( -70&( @II( 2$#'4( 70*)( 3))&( %>6,%5 >%&(b.(0&2(%&=#4%+&(+=(7)60$%&(0-(-7)$05 -%+&( >09( 0,4+( 3)( %&2#8)2( 39( =+$)%'&
80-)2(%&(80#4%&'(N"^4.(%&8,#2%&'(%3#6$+=)&. 6)#-%8(2+40')4?(N$)47(=$+B)&(6,04>0(0&2 0')&-4( 4#87( 04( %&4)8-( 3%-)4.( %&=)8-%+&4
4#,=+&0>%2)4.(&06$+:)&.(0&2(-)-$0898,%&)4? 6#$%<)2( 6$+-)%&( G( 8+&8)&-$0-)4( 70*) H)?'?.(FM[J.(0&2(%2%+60-7%8(80#4)4?S@
K(706,+-96)(,%&R0')(%&(-$%>)-7+6$%>54#,=05 3))&( #4)2?QZ( A#66+$-%*)( >)04#$)4( =+$ K&-%8+&*#,40&-5%&2#8)2(64)#2+,9>5
>)-7+:0B+,)P%&2#8)2( N"^( 704( 3))& -7)(4R%&(0$)(0(>0%&4-09(+=(-7)$069?(D7) 67+>0(')&)$0,,9(+88#$4(0=-)$(@(1))R(-+(C
2+8#>)&-)2?QU >+$3%2%-9($0-)(%4(7%'7e(!I(6)$8)&-(+=(0=5 9)0$4( +=( ):6+4#$)( -+( -7)( 2$#'?( V%-7%&( T
K( 870,,)&')( +$( 6$+*+80-%+&( -)4-( 1%-7 =)8-)2(%&2%*%2#0,4($);#%$)(6,04-%8(4#$')$9 -+( @Q( 2094( +=( 2$#'( 2%48+&-%�-%+&.( -7)
-7)( 4#46)8-)2( 2$#'( >09( 3)( #4)=#,( %&( )45 =+$( $)>)2%0-%+&( +=( =#,,5-7%8R&)44( 4R%& 49>6-+>4(#4#0,,9($)4+,*)?(D7)()$#6-%+&
-03,%47%&'( -7)( 2%0'&+4%4?( i0-87( -)4-%&'( 0- &)8$+4%4(39(4R%&('$0=-%&'?(D7)4)(60-%)&-4 +=-)&(>0&%=)4-4(04(4%&',)(,)4%+&4(3#-(80&
-7)(4%-)(+=(0(6$)*%+#4(,)4%+&(9%),24(0(6+4%5 >09(3)(-$)0-)2(1%-7(8+#>0$%&(%&(-7)(=#5 0,4+( 3)( 1%2)46$)02( )$9-7)>0-+#4( 6065
-%*)( $)46+&4)( %&( #6( -+( QU( 6)$8)&-( +=( 605 -#$).(3#-(4>0,,(2+40')4(HC(-+(S(>'(20%,9J #,)4.( 6,0;#)4.( +$( &+2#,)4?( Y+4-( 60-%)&-4
-%)&-4?( O)4#,-4( +=( 6$%8R( 0&2( %&-$02)$>0, 0$)( $)8+>>)&2)2.( 1%-7( %&%-%0,( -$)0-5 0,4+( 70*)( =)*)$.( >0$R)2( ,9>6702)&+605
4R%&( -)4-4( >09( 3)( 6+4%-%*)( %&( CQ(6)$8)&- >)&-(#&2)$(7)60$%&(8+*)$0')? -79(0&2(7)60-+46,)&+>)'0,9.(0&2()+4%&5
0&2(!T(6)$8)&-(+=(60-%)&-4.($)46)8-%*),9?QS D7)(60-7+')&)4%4(+=(-7%4(02*)$4)()*)&- +67%,%0?SC(Y98+4%4(=#&'+%2)4P,%R)(,)4%+&4
%4(-7)(60$02+:%80,(2)*),+6>)&-(+=(+88,#5 0$)(0,4+(044+8%0-)2(1%-7(-7)4)(2$#'4?SU
4%*)( -7$+>3%( %&( 8#-0&)+#4( 0&2( 4#38#-05
%AB@J>9P<89ABG!AE<J7E+-R@A+"7J?>H@H &)+#4( *)&#,)4( 2#)( -+( 0( -$0&4%)&-( 796)$5
8+0'#,03,)( 4-0-)?( D7%4( $)4#,-4( =$+>( -7) ,?<PG!AE<J7E+39HJ<8@B@H
K&-%8+0'#,0&-5%&2#8)2(4R%&(&)8$+4%4(3)5
'%&4(U(-+(S(2094(0=-)$(%&%-%0-%+&(+=(-$)0-5 4#66$)44%+&( +=( -7)( &0-#$0,( 0&-%8+0'#,0&- "$#'5%&2#8)2( *048#,%-%4( $)6$)4)&-4( 065
>)&-?( E+-7( 8+#>0$%&( 0&2( 7)60$%&( H#&5 6$+-)%&(G(0-(0('$)0-)$($0-)(-70&(-7)(4#65 6$+:%>0-),9(@I(6)$8)&-(+=(-7)(08#-)(8#-05
=$08-%+&0-)2(0&2(,+1(>+,)8#,0$(1)%'7-J 6$)44%+&(+=(&0-#$0,(6$+8+0'#,0&-(=08-+$4? &)+#4( *048#,%-%2)4( 0&2( #4#0,,9( %&*+,*)4
80&( %&2#8)( 4R%&( &)8$+4%4( HN%'?( QI5!J? 4>0,,( *)44),4SQ( H4))( G706?( @!QJ?( "$#'4
^0$,9($)2.(60%&=#,(6,0;#)4(2)*),+6(%&(025 -70-(0$)(044+8%0-)2(1%-7(*048#,%-%4(%&8,#2)
,?<PG!AE<J7E+$@JK7A>@E+.?<IB@>AH
%6+4)5$%87( 4%-)4( 4#87( 04( 3$)04-4.( 3#-5 6$+69,-7%+#$08%,.( 792$0,0B%&).( '$0&#,+5
-+8R4.(0&2(7%64?(D7)4)(6,0;#)4(>09(3,%45 "$#'5%&2#8)2( ,%87)&( 6,0( 6$+2#8)4( ,)5 89-)( 8+,+&954-%>#,0-%&'( =08-+$.( '$0&#,+5
-)$.( #,8)$0-).( +$( 2)*),+6( %&-+( &)8$+-%8 4%+&4(-70-(0$)(8,%&%80,,9(0&2(7%4-+,+'%80,,9 89-)5>08$+670')(8+,+&954-%>#,0-%&'(=085
0$)04?( M-( %4( )4-%>0-)2( -70-( @( %&( @I.III %&2%4-%&'#%4703,)(=$+>(-7+4)(+=(%2%+60-7%8 -+$.( 0,,+6#$%&+,.( 8)=08,+$.( >%&+898,%&).
6)$4+&4( 17+( $)8)%*)( -7)( 2$#'( %4( 0-( $%4R ,%87)&(6,0(H4))(G706?(C!Je(7+1)*)$.(,%5 6)&%8%,,0>%&).( 67)&9-+%&.( 0&2( %4+-$)-%5
+=(-7%4(02*)$4)()*)&-?Q!(D7)(%&8%2)&8)(%4 87)&+%2(2$#'()$#6-%+&4(+=-)&( 066)0$( %&%5 &+%&?SS( D7)( 0*)$0')( %&-)$*0,( =$+>( %&%-%05
=+#$( -%>)4( 7%'7)$( %&( 1+>)&.( )46)8%0,,9 -%0,,9( 04( )8B)>0-+#4( 1%-7( 0( 6#$6,)( 7#) -%+&( +=( 2$#'( -7)$069( -+( +&4)-( +=( 2$#'5
%&(+3)4)(1+>)&.(1%-7(0(6)0R(%&8%2)&8) 0&2(%&*+,*)(,0$')(0$)04(+=(-7)(-$#&R?(o4#5 %&2#8)2(*048#,%-%4(%4(T(-+(C@(2094?S!
%&(-7)(4%:-7(0&2(4)*)&-7(2)802)4(+=(,%=)? 0,,9(-7)(>#8+#4(>)>3$0&)4(0&2(&0%,4(0$) D7)(8,%&%80,(70,,>0$R(+=(8#-0&)+#4(*045
K==)8-)2(60-%)&-4(+=-)&(70*)(3))&('%*)& &+-( %&*+,*)2?( F%4-+,+'%80,,9.( =+80,( 60$05 8#,%-%4( %4( 60,603,)( 6#$6#$0.( 8,044%80,,9
0( ,0$')( %&%-%0,( ,+02%&'( 2+4)( +=( 8+#>0$%& R)$0-+4%4.(=+80,(%&-)$$#6-%+&(+=(-7)('$0 =+#&2(+&(-7)(,+1)$():-$)>%-%)4?(o$-%80$%0
%&( -7)( 034)&8)( +=( 8+&8+>%-0&-( 7)60$%& ,0$( ,09)$.( 89-+%2( 3+2%)4( %&( -7)( 8+$&%<)2 80&( 3)( 0( >0&%=)4-0-%+&( +=( 4>0,,( *)44),
-7)$069?( K&( 088+>60&9%&'( %&=)8-%+& 0&2('$0&#,0$(,09)$4.(-7)(6$)4)&8)(+=()+4%&5 *048#,%-%4.( 1%-7( %&2%*%2#0,( ,)4%+&4( $)5
4#87( 04( 6&)#>+&%0.( *%$0,( %&=)8-%+&.( +$ +67%,4(0&2(6,04>0(8),,4(%&(-7)(%&L0>>05 >0%&%&'( <:)2( %&( -7)( 40>)( ,+80-%+&( =+$
-+$9(%&<,-$0-).(0&2(0&(%&<,-$0-)(0$+#&2(-7) >+$)( -70&( @( 209?( a-7)$( =)0-#$)4( %&5
2))6( *)44),4( =0*+$( 0( 2%0'&+4%4( +=( ,%5 8,#2) 7)>+$$70'%8(3#,,0).(#,8)$4.(&+2#,)4.
87)&+%2(2$#'()$#6-%+&?Qd(Y0&9(2$#'4.(%&5 O09&0#2( 2%4)04).( 0&2( 2%'%-0,( &)8$+4%4?ST
8,#2%&' ( 3,+8R)$4.( 6)&%8%,,0>%&).( 0&2 D7)(40>)(*048#,%-%8(6$+8)44(>09(0,4+(0=5
0&'%+-)&4%&58+&*)$-%&'()&B9>)(HKG^J(%&5 =)8-(%&-)$&0,(+$'0&4(4#87(04(-7)(,%*)$.(R%25
7%3%-+$4.( )46)8%0,,9( 806-+6$%,.( $)6+$-)2,9 &)9.('#-.(0&2(8)&-$0,(&)$*+#4(494-)>(0&2
6$+2#8)( -7%4( $)08-%+&?( D7)( >)0&( ,0-)&- 80&(3)(6+-)&-%0,,9(,%=)(-7$)0-)&%&'?
6)$%+2(%4(3)-1))&(C(>+&-74(0&2(U(9)0$4 "$#'5%&2#8)2( *048#,%-%4( 80&( 3)( 2%=<5
=+$( 6)&%8%,,0>%&).( 066$+:%>0-),9( @( 9)0$ 8#,-(-+(2%0'&+4)(0&2(%4(+=-)&(0(2%0'&+4%4
=+$ 502$)&)$'%8(3,+8R%&'(0')&-4.(0&2(U(-+ +=( ):8,#4%+&?( M&( 4+>)( 804)4.( 4)$+,+'%8
!( >+&-74( =+$( KG^( %&7%3%-+$4?( D7)( ,0-)&- -)4-%&'( 704( $)*)0,)2( -7)( 6$)4)&8)( +=
6)$%+2( >09( 3)( 47+$-)&)2( %=( -7)( 60-%)&- 6)$%,)0$54-0%&%&'(0&-%&)#-$+67%,(89-+5
704( 3))&( 6$)*%+#4,9( ):6+4)2( -+( -7) 6,04>%8( 0#-+0&-%3+2%)4( 0'0%&4-( >9),+5
2$#'?Qd( O)4+,#-%+&( #4#0,,9( +88#$4( 1%-7( C 6)$+:%204)?SZ( K,-)$&0-%*)( 80#4)4( =+$( 8#5
-+(Q(>+&-74?(O)870,,)&')(1%-7(-7)(8#,6$%- -0&)+#4( *048#,%-%4( 4#87( 04( %&=)8-%+&( +$
2$#'( 704( 3))&( 0--)>6-)2( %&( 0( =)1( 605 0#-+%>>#&)( 2%4)04)( >#4-( 3)( ),%>%5
7,89:;+>6=< -R@A+A7J?>H@H+@A+9+I9B@7AB+9LB7? -%)&-4.( 1%-7( $)08-%*0-%+&( +=( 49>6-+>4 &0-)2?(D%44#)()+4%&+67%,%0(>09(3)(0&(%&5
_+E9CH+>L+N9?L9?@A+BK7?9IC: 1%-7%&(Q(-+(@S(2094?SI 2%80-+$( +=( 2$#'( %&2#8-%+&( %&( 8#-0&)+#4
!<6
4>0,,(*)44),(*048#,%-%4?Sd(D$)0->)&-(8+&5 -%+&4( %4( *)$9( 4>0,,.( 0&2( -7)4)( 2$#'4( 0$) 0&-7)>0-+#4( +$( #$-%80$%0,( )$#6-%+&4.
4%4-4( +=( 2$#'( 1%-72$010,?( A94-)>%8( ',#5 -7+#'7-(-+(70*)(0(,+1($%4R(=+$(80#4%&'(+$ 70*)(>0&9(&+&2$#'(80#4)4?
8+8+$-%8+%24(>09(3)(+=(3)&)<-? ):08)$30-%&'(8#-0&)+#4(,#6#4?!S D7)$)( %4( &+( '+,2( 4-0&20$2( %&*)4-%'05
-%+&(=+$(8+&<$>0-%+&(+=(0(2$#'(80#4)?(M&5
4-)02.( 2%0'&+4%4( 0&2( 044)44>)&-( +=
,?<PG!AE<J7E+$<I<H HA))(G706?(@S!J ,!%;"(-!-+%",+&%"%;.&."' 80#4)(%&*+,*)(0&0,94%4(+=(0(8+&4-),,0-%+&
"$#'5%&2#8)2( ,#6#4( %4( 870$08-)$%B)2( 39 D7)( %0-$+')&%8( 2%4+$2)$4( 2)48$%3)2( 7)$) +=(=)0-#$)4(4#87(04(-%>%&'(+=(2$#'():6+5
=$);#)&-( >#48#,+4R),)-0,( 8+>6,0%&-4. 0$)( 2%4-%&8-( 2%4)04)( )&-%-%)4.( 0,-7+#'7 4#$)(0&2( $)08-%+&(+&4)-.( 8+#$4)( +=( $)085
=)*)$.(1)%'7-(,+44.(6,)#$+6#,>+&0$9(%&5 -7)9(>09(8,+4),9(>%>%8(>0&9(%&=)8-%*) -%+&(1%-7(2$#'(1%-72$010,(+$(8+&-%
*+,*)>)&-(%&(>+$)(-70&(70,=(+=(60-%)&-4. +$( %2%+60-7%8( 2%4)04)4?( K( 2$#'( 80#4) -%+&.( -%>%&'( 0&2( &0-#$)( +=( 0( $)8#$$)&-
0&2( %&( $0$)( 804)4( $)&0,.( &)#$+,+'%8.( +$ 47+#,2( 3)(8+&4%2)$)2( %&( -7)(2%==)$)&-%0, )$#6-%+&( +&( $)870,,)&').( 0( 7%4-+$9( +=( 0
*048#,%-%8(%&*+,*)>)&-!I(H4))(D03,)(QI5@J? 2%0'&+4%4(+=(0(1%2)(46)8-$#>(+=(2)$>05 4%>%,0$( $)46+&4)( -+( 0( 8$+445$)08-%&'
Y+4-( 60-%)&-4( 70*)( &+( 8#-0&)+#4( <&25 -+,+'%8( 2%4)04)4.( 60$-%8#,0$,9( 17)&( -7) >)2%80-%+&.( 0&2( 6$)*%+#4( $)6+$-4( +=
%&'4( +=( ,#6#4( )$9-7)>0-+4#4?( D7)( >+4- 6$)4)&-0-%+&(+$(8+#$4)(%4(0-96%80,? 4%>%,0$( $)08-%+&4( -+( -7)( 40>)( >)2%805
8+>>+&( 4)$+,+'%8( 03&+$>0,%-9( %4( 6+4%5 D7)( 2%0'&+4%4( +=( 0( 8#-0&)+#4( 2$#' -%+&?( M&*)4-%'0-%+&4( -+( ):8,#2)( &+&2$#'
-%*%-9(=+$(0&-%5,)0$(0&-%3+2%)4(1%-7(0 )$#6-%+&( %&*+,*)4( -7)( 6$)8%4)( 870$08-)$5 80#4)4(0$)(4%>%,0$,9(7),6=#,?
7+>+')&+#4(60--)$&?(K,-7+#'7(0&-%7%45 %B0-%+&(+=($)08-%+&(-96)?(K(1%2)(*0$%)-9 A)*)$0,( %&( *%-$+( %&*)4-%'0-%+&4(80&(7),6
-+&)(0&-%3+2%)4(0$)(4))&(%&(#6(-+(dS(6)$5 +=( 8#-0&)+#4( 2$#'5044+8%0-)2( )$#6-%+&4 -+( 8+&<$>( 80#40-%+&( %&( %&2%*%2#0,( 804)4.
8)&-(+=(2$#'5%&2#8)2(,#6#4.(-7)9(0$)(&+- >09( 0,4+( 10$&( +=( 044+8%0-)2( %&-)$&0, 3#-( -7)%$( ):08-( 4)&4%-%*%-9( 0&2( 46)8%<8%-9
46)8%<8(=+$(-7)(49&2$+>)(0&2(0$)(=+#&2 -+:%8%-9(HD03,)(QI5UJ?(^*)&(-7)(>+4-(>%5 $)>0%&(#&8,)0$?(M&*)4-%'0-%+&4(%&8,#2)(-7)
%&( SI( 6)$8)&-( -+( ZI( 6)$8)&-( +=( 60-%)&-4 &+$(8#-0&)+#4()$#6-%+&(47+#,2(-$%'')$(0 ,9>67+89-)( -+:%8%-9( 0&2( ,9>67+89-)
1%-7( %2%+60-7%8( ,#6#4( )$9-7)>0-+4#4? 8,%&%80,( $)*%)1( +=( 494-)>4.( 3)80#4)( -7) -$0&4=+$>0-%+&( 044094?@@.@C( i)&%8%,,%&( 4R%&
o&,%R)( %&( %2%+60-7%8( ,#6#4( )$9-7)>0-+5 4)*)$%-9( +=( 494-)>%8( %&*+,*)>)&-( 2+)4 -)4-%&'( 1%-7( >0/+$( 0&2( >%&+$( 2)-)$>%5
4#4.( 0&-%3+2%)4( 0'0%&4-( 2+#3,)54-$0&2)2 &+-( &)8)440$%,9( >%$$+$( -70-( +=( -7)( 4R%& &0&-4(%4(#4)=#,(=+$(8+&<$>0-%+&(+=(0&(M'^5
"_K( 0$)( -96%80,,9( 034)&-.( 17)$)04 >0&%=)4-0-%+&4?!!( F)60-%8.( $)&0,.( /+%&-. >)2%0-)2( %>>)2%0-)( 796)$4)&4%-%*%-9( $)5
0&-%P4%&',)54-$0&2)2( "_K( 0&-%3+2%)4 $)46%$0-+$9.(7)>0-+,+'%8.(0&2(&)#$+,+'%8 08-%+&( -+( 6)&%8%,,%&?!T( i0-87( -)4-%&'( 704
0$)(+=-)&(6$)4)&-?!@(])&)-%8(=08-+$4(>09 870&')4(47+#,2(3)(4+#'7-.(0&2(0&9(4945 3))&( #4)2( %&( 60-%)&-4( 1%-7( 0>6%8%,,%&5
0,4+( 6,09( 0( $+,)( %&( -7)( 2)*),+6>)&-( += -)>%8( 49>6-+>4( +$( 4%'&4( %&*)4-%'0-)2? %&2#8)2( ):0&-7)>0-+#4( )$#6-%+&4!Z( 0&2
2$#'5%&2#8)2(,#6#4?(F\K5"OQ(%4(6$)4)&- N)*)$.( >0,0%4).( 670$9&'%-%4.( 0&2( +-7)$ %&( -7)( 0&8%,,0$9( 2%0'&+4%4( +=( N"^4?( i0-87
%&( TU( 6)$8)&-( +=( -7)( 60-%)&-4( 1%-7( 795 494-)>%8( 49>6-+>4( +$( 4%'&4( 47+#,2( 3) -)4-%&'(704('$)0-)$(4)&4%-%*%-9(%=(6)$=+$>)2
2$0,0B%&)5%&2#8)2( ,#6#4( 0&2( %&( TI( 6)$5 %&*)4-%'0-)2?( K( #4#0,( 48$))&( 1+#,2( %&5 +*)$(0(6$)*%+#4,9(%&*+,*)2(0$)0(+=(4R%&?!d
8)&-( +=( 60-%)&-4( 1%-7( >%&+898,%&)5 8,#2)(0(=#,,(3,++2(8+#&-.(,%*)$(0&2($)&0, G#-0&)+#4(2$#'()$#6-%+&4(2+(&+-(#4#5
%&2#8)2(,#6#4?!C(^*%2)&8)(&+1(4#'')4-4 =#&8-%+&(-)4-4.(0&2(0(#$%&)(0&0,94%4? 0,,9( *0$9( %&( 4)*)$%-9( 1%-7( 2+4)?( \)44( 4)5
-70-( 03&+$>0,%-%)4( 2#$%&'( D58),,( 4),)85 AR%&(3%+649(47+#,2(3)(8+&4%2)$)2(=+$ *)$)($)08-%+&4(>09(030-)(1%-7(8+&-%&#)2
-%+&(%&(-7)(-79>#4(%&%-%0-)(,#6#45,%R)(0#5 0,,(60-%)&-4(1%-7(6+-)&-%0,,9(4)*)$)($)085 2$#'( -7)$069( H)?'?.( -$0&4%)&-( ):0&-7)>05
-+0&-%3+29(%&2#8-%+&?!U -%+&4.( 4#87( 04( -7+4)( 1%-7( 494-)>%8 -+#4( )$#6-%+&4( 044+8%0-)2( 1%-7( 8+>5
D7)( %2)&-%<80-%+&( +=( >%&+898,%&)( 04( 0 49>6-+>4.()$9-7$+2)$>0.(3,%4-)$%&'.(4R%& >)&8)>)&-( +=( 0( &)1( FM[( 0&-%$)-$+*%$0,
80#4)(+=(2$#'5%&2#8)2(,#6#4(>0R)4(%-(%>5 -)&2)$&)44.( 6#$6#$0.( +$( 6#4-#,0-%+&.( 04 $)'%>)&J?(F+1)*)$.(0($)08-%+&(4#'')4-%*)
6+$-0&-( =+$( 2)$>0-+,+'%4-4( -+( $)8+'&%B) 1),,(04(%&(804)4(%&(17%87(-7)(2%0'&+4%4(%4 +=( 0( 6+-)&-%0,,9( ,%=)5-7$)0-)&%&'( 4%-#0-%+&
-7%4( 49&2$+>)?( Y%&+898,%&)5%&2#8)2( ,#5 #&8)$-0%&?( A+>)( 8#-0&)+#4( $)08-%+&4. 47+#,2( 6$+>6-( %>>)2%0-)( 2%48+&-%
6#4(-96%80,,9(+88#$4(0=-)$( C(9)0$4(+=(-7)$5 4#87(04(N"^.(0$)(*%$-#0,,9(0,1094(2#)(-+ -%+&(+=(-7)(2$#'.(0,+&'(1%-7(2%48+&-%
069?(D7)(60-%)&-(6$)4)&-4(1%-7(0(49>>)-5 2$#'( -7)$069.( 0&2( &)0$,9( dI( 6)$8)&-( += -%+&( +=( 0&9( %&-)$08-%&'( 2$#'4( -70-( >09
$%8(6+,90$-7$%-%4?(F)60-%-%4(%4(+=-)&(2)-)8-)2 D^_(804)4(0$)(0,4+(2$#'($),0-)2?US(a-7)$ 4,+1( -7)( ),%>%&0-%+&( +=( -7)( 4#46)8-)2
+&( ,03+$0-+$9( )*0,#0-%+&?!Q( G#-0&)+#4 >+$)( 8+>>+&( )$#6-%+&4.( %&8,#2%&'( ):5 80#40-%*)(0')&-?(K,-7+#'7(-7)($+,)(+=(8+$5
<&2%&'4( %&8,#2)( ,%*)2+( $)-%8#,0$%4.( 60%&=#, -%8+4-)$+%24( %&( -7)( -$)0->)&-( +=( 4)$%+#4
&+2#,)4(+&(-7)(,)'4.(0&2(&+&2)48$%6-()$#65 8#-0&)+#4($)08-%+&4(%4(8+&-$+*)$4%0,.(>+4-
-%+&4?( K&-%7%4-+&)( 0&-%3+2%)4( 0$)( 4),2+> !"#$%&12)' 8,%&%8%0&4(87++4)(-+(4-0$-(6$)2&%4+&)(0-(0
6$)4)&-?(K(4-#29(+=(F\K(8,044(MM(0,,),)4($)5 +')$)4,'*3.,5#2.-*01,5*C,2$*%L*,* 2+40')(+=(@(-+(C(>'mR'm209(17)&(49>65
*)0,)2(-7)(6$)4)&8)(+=(F\K5"OQ(+$(F\K5 ;%5.$5),''M*7.T.2.*>2#&*=.,45)%$ -+>4( 0$)( 4)*)$).( ):8)6-( %&( 60-%)&-4( 1%-7
"OC(%&(>0&9(+=(-7)(60-%)&-4?!C k -CHB7=@J A`A(+$(D^_?(K&-%7%4-0>%&)4.(-+6%80,(8+$-%5
M&( 8+&-$04-.( 2$#'5%&2#8)2( 4#308#-) k #7Q7?+9AEf>?+>BK7?+HC=IB>=H+>L+@AB7?A98+ 8+4-)$+%24.(+$(3+-7(80&(3)(#4)2(-+(0,,)*%5
8#-0&)+#4(,#6#4( )$9-7)>0-+4#4(%4(870$5 >?P9A+@AQ>8Q7=7AB+H<JK+9H+IK9?CAP@B@HD+ 0-)(49>6-+>4?(O)4+,#-%+&(+=(-7)($)08-%+&
08-)$%B)2( 39( 0( 606#,+4;#0>+#4( +$( 0&5 =989@H7D+9?BK?98P@9D+J><PKD+9AE+ +*)$( 0( $)04+&03,)( -%>)( =$0>)( 0=-)$( -7)
&#,0$( 8#-0&)+#4( ,)4%+&.( 17%87( %4( +=-)& =7A@AP@H= 2$#'(%4( 2%48+&-%&#)2(%4( 8+&4%4-)&-(1%-7(0
67+-+4)&4%-%*).( 0&2( 034)&-( +$( >%,2( 4945 2$#'( 80#4)( 3#-( 0,4+( +88#$4( =+$( >0&9( %&5
k $C=IK9E7A>I9BKC
-)>%8( %&*+,*)>)&-?( G%$8#,0-%&'( 0&-%5O+ =)8-%*)(0&2(+-7)$(80#4)4(+=(-$0&4%)&-(8#-05
k 2<B9A7><H
HA/t'$)&( 49&2$+>)( KJ( 0&-%3+2%)4( 70*) &)+#4( )$#6-%+&4?( i0-%)&-4( 47+#,2( &+-( 3)
k .Q>8<B@>A+B>+7?CBK?>E7?=9
0,4+( 3))&( %2)&-%<)2( %&( >0&9( 60-%)&-4? $)870,,)&')2( %=( -7)9( 70*)( 4#==)$)2( 0( 6+5
k 4?>=@A7AB+L9J@98+@AQ>8Q7=7AB+s+7E7=9+
D7)(>+4-(8+>>+&,9($)6+$-)2(80#40-%*) -)&-%0,,9(4)$%+#4($)08-%+&?
>?+HN788@AP
0')&-4( 0$)( -7%0B%2)( 2%#$)-%84.( 80,8%#> k &<J><H+=7=F?9A7+@AQ>8Q7=7AB+SI9?B@JG
870&&),( 3,+8R)$4.( 0&2( KG^( %&7%3%-+$4? <89?8C+@L+7?>H@Q7+>?+@AQ>8Q@AP+J>AU<AJB@Q9T
D7)( &#>3)$( +=( 60-%)&-4( 17+( 2)*),+6 4).3."'!("
k -R@A+B7AE7?A7HHD+F8@HB7?@AP+>?+HK7EE@AP
4#308#-)( 8#-0&)+#4( ,#6#4( )$9-7)>0-+5 k 4<?I<?9 G#-0&)+#4($)08-%+&4(-+(2$#'4(0$)(,0$'),9
4#4(2#$%&'(-$)0->)&-(1%-7(-7)4)(>)2%805 %2%+49&8$0-%8( 0&2( #&):6)8-)2e( 4)$%+#4
!<"
$)08-%+&4( 0$)( $0$)?( a&8)( 0( $)08-%+&( 704 -0&-( %&( A`A.( D^_.( 0&2( 2$#'( 796)$4)&4%5 C@? D0&( ^.( ]$0--0&( Gl( "$#'5%&2#8)2( #$-%5
+88#$$)2.( 7+1)*)$.( %-( %4( %>6+$-0&-( -+ -%*%-9(49&2$+>)? 80$%0? I@#'2$( R#%+( O2*.( H!= &lQT@.
CIIQ
6$)*)&-( =#-#$)( 4%>%,0$( $)08-%+&4( %&( -7) O)6+$-%&'( $)08-%+&4( -+( -7)( >0&#=085 UI? E$%-487'%( Y.( i%87,)$( Vl( K8#-)( ')&)$0,5
60-%)&-( 1%-7( -7)( 40>)( 2$#'( +$( 0( 8$+445 -#$)$(+$($)'#,0-+$9(0#-7+$%-%)4(%4(%>6+$5 %B)2( ):0&-7)>0-+#4( 6#4-#,+4%4.( 0( 8,#)
$)08-%&'( >)2%80-%+&?( N+$( 60-%)&-4( 1%-7 -0&-?(i+4-5>0$R)-%&'(*+,#&-0$9($)6+$-%&' -+( &)#-$+67%,5>)2%0-)2( %&L0>>0-+$9
796)$4)&4%-%*%-9( 0&2( 4)*)$)( $)08-%+&4. +=( $0$).( 4)*)$).( +$( ##0,( $)08-%+&4( $)5 6$+8)44)4( +$87)4-$0-)2( 39( D( 8),,4?( B*22
R#%+(<44'2.,(B4%+(-))*+/4 *lUCS.(CIIC
1)0$%&'(0(3$08),)-(H)?'?.(Y)2%8K,)$-J(2)5 >0%&4(8$#8%0,(-+()&70&8)(-7)(40=)(#4)(+= UQ? V+,=( O( )-( 0,l( \%=)5-7$)0-)&%&'( 08#-)
-0%,%&'( -7)( &0-#$)( +=( -7)( $)08-%+&( %4( 025 670$>08)#-%80,(0')&-4? 02*)$4)( 8#-0&)+#4( 2$#'( $)08-%+&4?( B4%+
*%403,).( 0&2( 60-%)&-( $)8+$24( 47+#,2( 3) O'2)!$/4 *&l@T@.(CIIS
066$+6$%0-)(,03),)2? US? O+#/)0#(`()-(0,l(Y)2%80-%+&(#4)(0&2(-7)
e.*+).#.)."2.- $%4R( +=( A-)*)&45`+7&4+&( 49&2$+>)( +$
F+4-( =08-+$4( 066)0$( %>6+$-0&-( %& -+:%8()6%2)$>0,(&)8$+,94%4?(E(I+.4(;(G'"
>0&9( $)08-%+&4?( A+>)( +=( -7)4)( 80&( 3) &&&l@!II.(@ddS
%&7)$%-)2.(17%87(6,08)4(<$4-52)'$))($),05
'K7+L<88+?7L7?7AJ7+8@HB+L>?+988+JK9IB7?H+ ST? O+#/)0#( `G.( A-)$&( Ol( A)*)$)( 02*)$4)
-%*)4( 0-( 0( '$)0-)$( $%4R( -70&( -7)( ')&)$0, @H+9Q9@89F87+9B+NNN:E@P=W:J>=: 8#-0&)+#4( $)08-%+&4( -+( 2$#'4?( E( I+.4( ;
G'" &&!l@CTC.(@ddQ
6+6#,0-%+&( =+$( 0( 4%>%,0$( $)08-%+&( -+( -7) @S? i%87,)$( V( )-( 0,l( G),,#,0$( 0&2( >+,)8#,0$ !!? A#,,%*0&(`.(A7)0$(_l(D7)(2$#'(796)$4)&5
40>)( +$( 0( >)-03+,%80,,9( 8$+445$)08-%&' 60-7+6794%+,+'9(+=(8#-0&)+#4(2$#'($)085 4%-%*%-9( 49&2$+>)l( V70-( %4( -7)( 60-7+5
2$#'?(D7%4(<&2%&'(066)0$4(-+(3)(%>6+$5 -%+&4? <)(;(B4%+(O'2)!$/4 &lCCd.(CIIC ')&)4%4u <261(O'2)!$/4 !&"lUST.(CII@
7,89:;+>"=> -JK7=9B@J+E@9P?9=+>L+BK7+I?@=9?C+I89b<7+SK7?98E+I9BJKT+9AE+BK7+BCI@J98+E@HB?@F<B@>A+>L
>+&-74.( 3#-( -7)( 4)8+&20$9( )$#6-%+&
-96%80,,9( +88#$4( 1%-7%&( C( 1))R4( +=( -7) H7J>AE9?C+I89b<7H+98>AP+BK7+8@A7H+>L+J879Q9P7+>A+BK7+B?<AR+@A+9+2K?@HB=9H+B?77+I9BB7?A:
066)0$0&8)( +=( -7)( 6$%>0$9( 6,0;#)?( K-
-%>)4.( -7)( 6$%>0$9( 0&2( 4)8+&20$9( ,)5 Q@5U?C( %&( +&5,%&)( )2%-%+&J?( D7)( 2%4-$%3#5 04%4( H4))( )N%'?( Q@5T?@( %&( +&5,%&)( )2%-%+&J?
4%+&4(>09(066)0$(0-(-7)(40>)(-%>)?(D7) -%+&( +=( -7)( 4)8+&20$9( )$#6-%+&( >09( 3) D7)(60,>4(0&2(4+,)4(0$)(%&*+,*)2(0-(-%>)4.
4)8+&20$9( )$#6-%+&( +88#$4( %&( 8$+64( 0- ):8,#4%*),9( 6)$%67)$0,?( N08%0,( %&*+,*)5 0&2( -7)( 8,%&%80,( 6%8-#$)( %&( -7)4)( 60-%)&-4
%&-)$*0,4( +=( 0( =)1( 2094( 0&2( $)087)4( %-4 >)&-( 704( 3))&( $)6+$-)2( 0&2( +88#$4 >09( 4%>#,0-)( 0( 1%2)46$)02( )8B)>0-+#4
>0:%>#>( %&( 066$+:%>0-),9( @I( 2094? >0%&,9( %&( 87%,2$)&?( \+80,%B)2( =+$>4( += )$#6-%+&?(K(*)4%8#,0$(-96)(+=(iO(H4))()N%'?
a8804%+&0,,9.( &)1( ,)4%+&4( 8+&-%&#)( -+ 2%4)04)(>09(%&*+,*)(8)$-0%&(3+29($)'%+&4 Q@5U?U( %&( +&5,%&)( )2%-%+&J( %4( #&8+>>+&
2)*),+6( =+$( 4)*)$0,( 1))R4?( D7)( 49>5 4#87(04(-7)(480,6.(0:%,,0).(*#,*0.(0&2('$+%& 0&2( #4#0,,9( 0==)8-4( 87%,2$)&( 0&2( 9+#&'
>)-$%8( )$#6-%+&( %4( ,+80,%B)2( >0%&,9( -+ H4)) )N%'4?( Q@5U?U( 0&2( Q@5!?@( %&( +&5,%&) 02#,-4?( o$-%80$%0,.( 6#4-#,0$.( 6#$6#$%8( H4))
-7)( -$#&R( 0&2( 02/08)&-( $)'%+&4( +=( -7) )2%-%+&J(0&2(0,4+(>09(3)(,+80,%B)2(-+(+&) N%'?( Q@5C 0&2( 4))( )N%'?( Q@5T?C( %&( +&5,%&)
&)8R(0&2(6$+:%>0,():-$)>%-%)4(HN%'?(Q@5QJ? 4%2)(+=(-7)(3+29? )2%-%+&J.( 0&2( )$9-7)>0( >#,-%=+$>)P,%R)
D7)( >+4-( 6$+&+#&8)2( ,)4%+&4( ):-)&2 D7)( >+$67+,+'9( +=( -7)( 4)8+&20$9( ,)5 *0$%0&-4( +=( iO( 0,4+( ):%4-?( D7)4)( 0-96%80,
+*)$( -7)( 032+>)&( 0&2( 0&-)$%+$( 4#$=08) 4%+&4(>09(3)(0-96%80,.(0&2(%&(-7)4)(804)4. =+$>4(+=(iO(0$)(&+-(#&%=+$>,9(2%=<8#,-(-+
+=( -7)( 87)4-( 04( 1),,( 04( +*)$( -7)( 308R -7)(2%0'&+4%4(+=(iO(80&(3)(>+$)(870,,)&'5 2%0'&+4).( 3)80#4)( >0&9( 60-%)&-4( 1%,,
HN%'4?(Q@5S. Q@5!. Q@5T(0&2(4))()N%'4?(Q@5!?@ %&'?(Y08#,)4(>09(+88#$(0&2(,08R(480,%&'. 70*)( 8,044%8( 6,0;#)4( 02>%:)2( 1%-7( *0$%5
0&2 Q@5!?C( %&( +&5,%&)( )2%-%+&J?( \)4%+&4 606#,)4( >09( 3)( =+,,%8#,0$.( 0&2( -96%80, +#4( 0-96%80,(,)4%+&4.( 4#87( 04(*)4%8,)4.(=+,5
2%4-0,(-+(-7)(),3+14(0&2(R&))4(80&(+88#$ 6,0;#)4(>09(3)(034)&-(+$($)4)>3,)(64+$%5 ,%8#,0$(606#,)4.(0&2(6#$6#$0?
3#-(0$)(,)44(8+>>+&?(D1+(>0%&(-96)4(+=
4)8+&20$9(,)4%+&4(+88#$l(H@J(4>0,,(6,0;#)4
$)4)>3,%&'(-7)(6$%>0$9(6,0;#)(%&(>%&%05
-#$)( 0,%'&)2( 1%-7( -7)%$( ,+&'( 0:)4( 0,+&'
,%&)4( +=( 8,)0*0')( 0&2( 2%4-$%3#-)2( %&( 0
G7$%4->04( -$))( 60--)$&.( 0&2( HCJ( 4>0,,.
$)2.(#4#0,,9(&+&5480,9(606#,)4(-70-('$025
#0,,9(%&8$)04)(%&(&#>3)$(0&2(46$)02(6)5
$%67)$0,,9?(E+-7(-96)4(+=(,)4%+&4(>09():5
%4-(8+&8+>%-0&-,9?
M&( 066$+:%>0-),9( CI( 6)$8)&-( +=( 605
-%)&-4.( -7)( 8,%&%80,( 6%8-#$)( 2%*)$')4( =$+>
-7)(8,044%8(+&)(2)48$%3)2()0$,%)$?(D7)(6$%5
>0$9( 6,0;#)( >09( 3)( >%44%&'( +$( 6$)4)&-
04(2+#3,)(+$(>#,-%6,)(,)4%+&4(H4))(N%'?(Q@5U
0&2( 4))( )N%'?( Q@5U?@( %&( +&5,%&)( )2%-%+&J.
+=-)&(8,+4)(-+')-7)$?(D7)(6$%>0$9(6,0;#) 7,89:;+>"=? 'CI@J98+ E@HB?@F<B@>A+ >L+ H7J>AEG 7,89:;+>"=< 'CI@J98+ E@HB?@F<B@>A+ >L+ H7J>AEG
>09(3)(-7)(4+,)(>0&%=)4-0-%+&(+=(-7)(2%45 9?C+ I89b<7H+ 98>AP+ BK7+ 8@A7H+ >L+ J879Q9P7+ >A+ BK7 9?C+ I89b<7H+ 98>AP+ BK7+ 8@A7H+ >L+ J879Q9P7+ >A+ BK7
)04)(+$(+&,9(+&)(+=(-1+(,)4%+&4(H4))()N%'? F9JR+@A+9+2K?@HB=9H+B?77+I9BB7?A: JK7HB+>L+9+F89JR+@AE@Q@E<98:
!<>
6$%>0$9(0&2(4)8+&20$9(6,0;#)4?(D7)(7%45 +&,9(0(6$%>0$9(6,0;#)(+$(17)&(%-(%4(,+80,5
-+,+'%8( 6%8-#$)( %4( %&2%4-%&'#%4703,)( =$+> %B)2( -+( -7)( '$+%&( 0$)0?( A80,%&'( 1%,,( 3)( 0-
-70-(+=(4#6)$<8%0,('9$0-)()$9-7)>0? -7)(6)$%67)$9(+=(-7)(6,0;#)4(%&(-%&)0(8+$5
M&(+,2)$(,)4%+&4.(-7)(6)$%*048#,0$(%&<,5 6+$%4(04( +66+4)2( -+( %&4%2)(-7)( 6)$%67)$9
-$0-)( %4(+=-)&(3+-7( 4#6)$<8%0,( 0&2(2))6. +=(6,0;#)4(%&(iO?(Y98+,+'%8(%&*)4-%'0-%+&
1%-7( ,)44( 46+&'%+4%4( 0&2( >+$)( 6$+5 %4( +=-)&( &)8)440$9( -+( $#,)( +#-( 2)$>0-+5
&+#&8)2( 080&-7+4%4?( D7)4)( ,0-)( ,)4%+&4 679-)(%&=)8-%+&?(D7)(,)4%+&4(+=(&#>>#,0$
>09(3)(2%=<8#,-(-+(2%4-%&'#%47(=$+>(64+5 2)$>0-%-%4( 0$)( #4#0,,9( $+#&2.( &+-( +*0,.
$%04%4(0&2(,%87)&(6,0? 0&2( 6%&6+%&-( 606#,)4( 0&2( *)4%8,)4( 0$)
O+#-%&)(3,++2(4-#2%)4(#4#0,,9('%*)(&+$5 >+$)(6$+>%&)&-(-70&(%&(iO?(]#--0-)(64+5
>0,( $)4#,-4( 0&2( 0$)( &+-( $)8+>>)&2)2? $%04%4(>09(80#4)(2%=<8#,-%)4(%&(2%0'&+4%&'
F+1)*)$.( ,)#R+89-+4%4.( &)#-$+67%,%0.( 305 iO(17)&(+&,9(0(=)1(,)4%+&4(0$)(6$)4)&-.
4+67%,%0.( ,9>67+89-+4%4.( 0&2( 4,%'7-( %&5 17)&( ,)4%+&4( =+,,+1( ,%&)4( +=( 8,)0*0').
8$)04)4(%&()$9-7$+89-)(4)2%>)&-0-%+&($0-) 0&2( 17)&( -7)( 2%4)04)( 8+#$4)( %4( 87$+&%8?
0&2(,)*),4(+=(-+-0,(6$+-)%&.( @5(0&2( C5',+35 F%4-+,+'%8():0>%&0-%+&(>09(3)(#4)=#,(%&
#,%&4.(0&2(0,3#>%&(70*)(3))&($)6+$-)2? -7)4)( 804)4?( i%-9$%04%4( ,%87)&+%2)4( 87$+&5
7,89:;+>"=@ 37H@J<89?+I@BC?@9H@H+?>H79D+HK>NG %80( >09( 6$)4)&-( 1%-7( 0( G7$%4->04( -$))
@AP BCI@J98+I?@=9?C+I89b<7+ 9AE+H7J>AE9?C+ I9I<G 60--)$&(+&(-7)(-$#&R.(3#-(04(0($#,).(-96%80,
8>Q7H@J87H:+">B7+2K?@HB=9H+B?77+E@HB?@F<B@>A: ,!##.)."'!%$+,!%;"(-!- HE+: ,)4%+&4(1%,,(3)(=+#&2(+&(-7)():-$)>%-%)4?
Q@5@J Y0&9( 2$#'4( 70*)( 3))&( $)6+$-)2( -+
A)8+&20$9( 4967%,%4( >09( 6$)4)&-( 1%-7 80#4)( iO5,%R)( $047)4?( D7#4.( %-( %4( 0,1094
)789B7E+4KCH@J98+#@AE@APH 4,%'7-,9(480,9(,)4%+&4(0&2(80&(>%>%8(606#5 %>6+$-0&-(-+(+3-0%&(0(2$#'(7%4-+$9(-+(%&5
M&($0$)(804)4()&0&-7)>0(>09(+88#$(1%-7 ,0$( iO( 1%-7( &+( 6$%>0$9( 6,0;#)?( Y#8+40, *)4-%'0-)( -7%4( 6+44%3%,%-9?( D7)4)( %&8,#2)
7)>+$$70'%8( >08#,)4( 0&2( 60-87)4.( 3#,5 ,)4%+&4( 0&2( ,9>6702)&+60-79( >09( +85 0$4)&%8.( 30$3%-#$0-)4.( 3%4>#-7.( 806-+6$%,.
,0)(+&(-7)(-+&'#)(0&2(87))R4.(+$(,)4%+&4 8#$( %&( 3+-7( iO( 0&2( 4967%,%4.( 3#-( 04( 1%-7 8,+&%2%&).( '+,2.( %&-)$=)$+&5 .( %4+-$)-%&5
-70-($)4)>3,)(067-7+#4(#,8)$4?(_0%,(2945 %&*+,*)>)&-(+=(-7)(60,>4(0&2(4+,)4.(-7)4) +%&.(R)-+-%=)&.(,03)-0,+,.(+$'0&%8(>)$8#$%5
-$+679(0=-)$(iO(704(0,4+(3))&($)6+$-)2? <&2%&'4( 0$)( >#87( >+$)( 8+>>+&( %&( -7) 0,4.( >)-7+:96$+>0B%&).( >)-$+&%20B+,).
\9>6702)&+60-79( >09( +88#$( %&( 605 ,0--)$?(A)$+,+'%8(-)4-4(=+$(4967%,%4(1%,,(2%=5 +>)6$0B+,).( "56)&%8%,,0>%&).( 40,*0$40&.
-%)&-4( 1%-7( iO.( )46)8%0,,9( )0$,9( %&( -7) =)$)&-%0-)(-7)(-1+?(D%&)0(8+$6+$%4(>09($)5 4#,=040,0B%&).( -)$3%&0<&).( 0&2( -$%6),)&)
8+#$4)(+=(-7)(2%4)04)(0&2(%&(044+8%0-%+& 4)>3,)(iO.()46)8%0,,9(17)&(iO(+88#$4(04 0>%&)(792$+87,+$%2)?(a=(&+-).(0(>+$)($)5
1%-7(L#5,%R)(49>6-+>4? 8)&-( 022%-%+&( -+( -7%4( ,%4-( %4( %>0-%&%3.C@( 0
#+,&1*)* 2$#'(#4)2(%&(-7)(-$)0->)&-(+=(87$+&%8(>95
),+%2(,)#R)>%0?("$#'5%&2#8)2(iO(>09(3)
>)LL.2.$5),'*>),&$%-)-*%L*;)5M2),-)-*
$%/()%'()*+'.-'- +=( -7)( 8,044%8( -96).( 3#-( %-( +=-)&( 47+14
=%-.,*F;=H 0-96%80,( =)0-#$)4.( 0( 6$+-$08-)2( 8+#$4).
M&( 804)4( +=( 8,044%8( iO.( >+4-( 60-%)&-4( 2+
L4B'-1)(0+F03W.*.Fj+K@HB>?C+>L+I?@=9?C+ ,0$')( ,)4%+&4.( 4#34);#)&-( >0$R)2( 796)$5
&+-($);#%$)(4R%&(3%+64%)4(3)80#4)(-7)(2%5
JK9AJ?7D+A>+K7?98E+I9BJK+@H+I?7H7ABD+ 6%'>)&-0-%+&.( 0&2( -$0&4=+$>0-%+&( -+( ,%5
0'&+4%4( %4( 4-$0%'7-=+$10$2( +&( 8,%&%80,
87H@>AH+BCI@J988C+@AQ>8Q7+I98=H+9AE+H>87HD+ 87)&+%2(2)$>0-%-%4?
'$+#&24( 0&2( -7)( 7%4-+,+'%8( <&2%&'4( 0$)
J>AEC8>=9+89B9+=9C+F7+I?7H7ABD+<H<988C+
&+&46)8%<8?( D96%80,( 7%4-+60-7+,+'%8( =)05
=>?7+HCHB7=@J+J>=I89@ABH+9AE+8C=IK9E7G
-#$)4( %&8,#2)( =+80,( 60$0R)$0-+4%4.( 0( $)5 2(&4$!2%'!("-
A>I9BKCD+I?7H7AJ7+>L+I89H=9+J788H+>A+K@HG
2#8)2( +$( 034)&-( '$0&#,0$( 8),,( ,09)$.( >%,2
B>8>PC:+aK7A+@A+E><FBD+H7?>8>P@J988C+B7HB+ i0-%)&-4( >09( ):6)$%)&8)( L#5,%R)( 49>65
080&-7+4%4.(>%,2(46+&'%+4%4.(606%,,0$9(2)$5
I9B@7AB+L>?+HCIK@8@H+S7:P:D+I7?L>?=+9+37A7G -+>4.( 3#-( -7)4)( 0$)( $),0-%*),9( >%,2( %=
>0,()2)>0.(0(6)$%*048#,0$(0&2(4#6)$<8%0,
?798+,@H79H7+)7H79?JK+$9F>?9B>?C+B7HBT: -7)9( +88#$?( _+( 4)$%+#4( 8+>6,%80-%+&4
2)$>0,( %&-)$4-%-%0,( %&<,-$0-)( +=( ,9>67+5
H.-4)+B'(3'(.Fj+HJ987+@H+<H<988C+9B+I7?@IKG +88#$(%&(iO(60-%)&-4?
89-)4(0&2(7%4-%+89-)4.(0&2(=+80,():-$0*0405
7?C+>L+I89b<7HD+I89b<7H+<H<988C+A>B+>Q98+9AE+
-%+&( +=( )$9-7$+89-)4( HN%'?( Q@5ZJ?( A%>%,0$
E@HB?@F<B7E+98>AP+8@A7H+>L+J879Q9P7:+aK7A+@A+
7%4-+,+'%8( <&2%&'4( 0$)( +34)$*)2( %&( 3+-7
E><FBD+I7?L>?=+9+e(0+7O9=@A9B@>A: 4)(;"(-!-+%",+
M%&&%*)(+14(&)/./.Fj+I89b<7H+<H<988C+ 2$!"!2%$+2(1)-.
J@?J<89?+9AE+A>B+>Q98D+A>+J>889?7BB7H+>L+
HJ987D+B@AC+Q7H@J87H+J>==>A:+aK7A+@A+ K,,(60-%)&-4(1%-7(iO(70*)(8+>6,)-)(46+&5
E><FBD+I7?L>?=+9+F@>IHC: -0&)+#4( $)4+,#-%+&( +=( -7)%$( 2%4)04)?( D7)
8%//)/4+3F'(.)F.Fj+I89b<7H+<H<988C+ 2%4)04)(2#$0-%+&(&+$>0,,9(*0$%)4(3)-1))&
H=9887?+BK9A+4)+I89b<7H+9AE+E>+A>B+L>88>N+ Q(0&2(@I(1))R4.(1%-7(-7)(<$4-(=)1(1))R4
8@A7H+>L+J879Q9P7D+HJ987+@H+BK@JR+9AE+A>B+ 044+8%0-)2( 1%-7( -7)( >+4-( &)1( %&L0>5
MA7:+aK7A+@A+E><FBD+I7?L>?=+9+F@>IHC: >0-+$9( 4R%&( ,)4%+&4( 0&2( -7)( '$)0-)4-
J./0(.)F.F+*.BW4-'.14F+BW('-.B)j+8>AP7?+ ,%R),%7++2( +=( L#5,%R)( 49>6-+>4?( E+-7
E@H79H7+J><?H7D+H=9887?+87H@>AHD+BK@JR7?+ 6+4-5%&L0>>0-+$9(796+6%'>)&-0-%+&(0&2
HJ987D+A>+K7?98E+I9BJK+@H+I?7H7ABD+=>?7+ 796)$6%'>)&-0-%+&( 80&( =+,,+1( iO?( K4
J>==>A+>A+7OB?7=@B@7H:+aK7A+@A+E><FBD+ 1%-7(+-7)$(4R%&(2%4)04)4.(-7%4(+88#$4(>+$)
7,89:;+>"=A 'CI@J98+ A>AHI7J@MJ+ K@HB>8>P@J 8+>>+&,9( %&( %&2%*%2#0,4( 1%-7( 20$R)$
L79B<?7H+>L+I@BC?@9H@H+?>H79D+@AJ8<E@AP+I9BJKC+I9?9G I7?L>?=+9+F@>IHC:
J:=*.d4+1(%D+4(%3/.'-j+H77+B7OB+L>?+ 4R%&( 8+,+$.( 1%-7( 796)$6%'>)&-0-%+&( 6$)5
R7?9B>H@HD+9FH7AJ7+>L+9+P?9A<89?+J788+89C7?D+H8@PKB 2+>%&0-%&'?( D$)0->)&-( 1%-7( #,-$0*%+,)-
7OB7AH@Q7+8@HB:+aK7A+@A+E><FBD+>FB9@A+9+
9J9ABK>H@HD+ HI>AP@>H@HD+ 9AE+ 9+ 8C=IK>K@HB@>JCB@J ,%'7-(67+-+-7)$069(>09(0,4+(1+$4)&(6+4-5
E?<P+K@HB>?C:
@AM8B?9B7+@A+BK7+H<I7?MJ@98+E7?=@H: %&L0>>0-+$9( 796)$6%'>)&-0-%+&( 0&2 !<?
47+#,2(3)(#4)2(1%-7(80#-%+&?(a-7)$1%4). 2$#'4.( -7%4( =+$>( +=( -7)$069( 47+#,2( 3)
4).3."'!("
60-%)&-4(70*)( &+($)4%2#0,( )==)8-4(4)8+&25 8+&4%2)$)2( %&( iO( 60-%)&-4( 6$)4)&-%&'
0$9( -+( -7)( +88#$$)&8)( +=( iO?( O)8#$$)&- )0$,9( %&( -7)%$( 2%4)04)( 8+#$4)( 17+( 2)>5 D7)$)( 0$)( &+( 20-0( +&( 7+1( iO( 80&( 3)
2%4)04)(%4(6+44%3,).(3#-(%-(%4($0$)? +&4-$0-)( 044+8%0-)2( L#5,%R)( 49>6-+>4 6$)*)&-)2?
0&2m+$( ):-)&4%*)( 4R%&( 2%4)04)?( A)*)$0,
9)0$4( 0'+.( )$9-7$+>98%&( 104( $)6+$-)2 e.*+).#.)."2.-
').%'&."' -+( 3)( +=( 3)&)<-( -+( 60-%)&-4( 1%-7( iO.CC
3#-( 8,%&%80,( ):6)$%)&8)( 0&2( 0( >+$)( $)5 'K7+L<88+?7L7?7AJ7+8@HB+L>?+988+JK9IB7?H+
E)80#4)( iO( %4( 4),=5,%>%-)2.( -7)$)( %4( &+
8)&-( $)6+$-( 47+1%&'( &+( )=<8089( += @H+9Q9@89F87+9B+NNN:E@P=W:J>=:
&))2( =+$( 08-%*)( -$)0->)&-( %&( #&8+>6,%5
0B%-7$+>98%&(%&(iO(70*)(&+-(8+&<$>)2
80-)2(804)4?(i0-%)&-()2#80-%+&(0&2($)045 C? "$0'+( N( )-( 0,l( F#>0&( 7)$6)4*%$#4( T
-7%4( %&%-%0,( $)4#,-?CU( A+>)( 60-%)&-4( 1%-7 %&(6%-9$%04%4($+4)0?(J!+6'$ &'#l@U!T.(@ddT
4#$0&8)( %4( 10$$0&-)2( %&( 0,,( 804)4?( Y%25
iO(>09(3)&)<-(=$+>(67+-+-7)$069.CQ(0,5 U? E$+88+,+( N( )-( 0,l( K22%-%+&0,( )*%2)&8)
6+-)&89( -+6%80,( 8+$-%8+4-)$+%24( >09( 3) -70-(6%-9$%04%4($+4)0(%4(044+8%0-)2(1%-7
-7+#'7(-7%4(47+#,2(3)(#4)2(1%-7(80#-%+&
#4)2(=+$(49>6-+>0-%8($),%)=(+=(6$#$%-#4? $)08-%*0-%+&( +=( 7#>0&( 7)$6)4*%$#45!
'%*)&( -70-( %-( 80&( %&8$)04)( -7)( $%4R( +=
M&-)$)4-%&',9.("$0'+(0&2(8+,,)0'#)4(70*) 0&2( 5T?( ;( -+&'0$( O'2)!$/4 !*'l@CUQ.
6+4-5%&L0>>0-+$9( 796)$6%'>)&-0-%+& CIIS
$)6+$-)2( -70-( 60-%)&-4( '%*)&( 7%'752+4)
0=-)$(2%4)04)($)4+,#-%+&(HE+:(Q@5CJ? Q? V0-0&03)( D( )-( 0,l( i%-9$%04%4( $+4)0( %4
0898,+*%$( H%?)?.( ZII( >'( <*)( -%>)4( 20%,9
044+8%0-)2( 1%-7( 494-)>%8( 08-%*)( %&=)85
=+$(@(1))RJ():6)$%)&8)2(>+$)($06%2($)45 -%+&( 1%-7( 3+-7( 7#>0&( 7)$6)4*%$#45T
+,#-%+&(+=(iO(-70&(60-%)&-4(-$)0-)2(1%-7 #+,&1*)0
0&2( 7#>0&( 7)$6)4*%$#45!?( ;( -+&'0$( O'25
6,08)3+(=+$(@(1))R?S(A6)8%<80,,9.(Td(6)$5 02.,5".$5*%L*;)5M2),-)-*=%-., )!$/4 !!#lTdU.(CIIC
8)&-(+=(QC(60-%)&-4(702(8+>6,)-)($)4+,#5 S? "$0'+( N.( [)887%+( N.( O)3+$0( Kl( o4)( +=
#>?+988+I9B@7ABHg+7E<J9B@>A+9F><B+BK7+ 7%'752+4)(0898,+*%$(%&(6%-9$%04%4($+4)0?(;
-%+&( +=( iO( 1%-7%&( C( 1))R4( +=( 4-0$-%&' E@H79H7+I?>J7HH+9AE+?79HH<?9AJ7 <)(<6!"(O'2)!$/4 %'lZC.(CII!
0898,+*%$(-7)$069.(17)$)04(Q(6)$8)&-(+= #>?+I9B@7ABH+N@BK+9HH>J@9B7E+I?<?@B<Hg+ T? G7#7(KK()-(0,l(D)>6+$0,(804)(8,#4-)$%&'
QS(60-%)&-4(-$)0-)2(1%-7(6,08)3+():6)$%5 =@EI>B7AJC+B>I@J98+J>?B@J>HB7?>@EH %&(6%-9$%04%4($+4)0l(K($)'$)44%+&(0&0,94%4
)&8)2( $)4+,#-%+&( +=( -7)%$( 2%4)04)( 0-( C +&(@UTd(60-%)&-4(%&(Y%&&)4+-0.(b#10%-.
#>?+I9B@7ABH+79?8C+@A+BK7+E@H79H7+J><?H7+ 0&2( "%90$30R%$.( D#$R)9?( <261( O'2)!$/4
1))R4?( K,-7+#'7( 60-%)&-4(1)$)(3,%&2)2 NK>+E7=>AHB?9B7+9HH>J@9B7E+c<G8@R7+ !'!lT!T.(CIIS
-+( -7)( -96)( +=( -$)0->)&-( -7)9( $)8)%*)2. HC=IB>=H+9AEf>?+7OB7AH@Q7+HR@A+E@H79H7g+ @Q? G7#7( KK.( G70&( FF.( v010$( [l( M4
-7)(-$%0,(104(,%>%-)2(%&(-70-(-7)(%&*)4-%5 >?98+9JCJ8>Q@?+\XX+=P+MQ7+B@=7H+E9@8C+L>?+Y+ 7#>0&( 7)$6)4*%$#4( T( -7)( 80#40-%*)
'0-+$4(1)$)(&+-(3,%&2)2(0&2(-7)(60-%)&-4 0')&-( +=( 6%-9$%04%4( $+4)0uj0( 8$%-%80,
N77R+S>?+7b<@Q987AB+9JCJ8>Q@?+E7?@Q9B@Q7T+ $)*%)1?(-+$(;(O'2)!$/4 '&lZTI.(CIIQ
1)$)( &+-( $0&2+>,9( 044%'&)2( -+( +&)( += =9C+K9HB7A+?7J>Q7?C+L?>=+E@H79H7 C@? E$0BB),,%( [( )-( 0,l( i%-9$%04%4( $+4)0P,%R)
-7)( -1+( -$)0->)&-( '$+#64?( ]%*)&( -70- #>?+H787JB7E+I9B@7ABHg+IK>B>BK7?9IC+=9C+ )$#6-%+&( 2#$%&'( -$)0->)&-( 1%-7( %>0-5
0898,+*%$( 0&2( %-4( 2)$%*0-%*)4( 0$)( $),05 F7+<H7L<8+ %&%3( >)49,0-)l(")48$%6-%+&( +=(U(804)4?( ;
-%*),9( %&):6)&4%*)( 0&2( 1),,5-+,)$0-)2 <)(<6!"(O'2)!$/4 %&lACQI.(CIIS
4)(;"(-!-+%",+
2$!"!2%$+2(1)-.
^KG( -)&24( -+( 3)( 0( 87$+&%8( 2%4)04).
17%87(10:)4(0&2(10&)4?(D7)(8+#$4)(%4
2)-)$>%&)2( 39( 044+8%0-)2( 2%4)04)4( +$
-$%'')$4?
7,89:;+>5=! ,77I+ 7?CBK7=9+ 9AA<89?7+ J7AB?@L<P<=+ N@BK+ A>?=98+ 7I@E7?=@H+ 9AE+ 8C=IK>JCB@J+ @AM8B?9B7H ').%'&."'
9F><B+Q7HH78H+>L+H<I7?MJ@98+9AE+E77I+E7?=@H:+&9AC+H<JK+87H@>AH+9?7+8<I<H+B<=@E<HD+H>+9+J9?7L<8+H79?JK+L>? K,-7+#'7( 0&( 044%2#+#4( 4)0$87( =+$( -7)
=<J@A+@H+=9AE9B>?C:+">A7+@H+H77A+K7?7:+S1H7E+N@BK+I7?=@HH@>A+L?>=+07@A^+e<B^A7?D+#?@7E?@JKHK9L7AD+;7?=9AC:T #&2)$,9%&'(80#4)(%4(-7)( 6$%>0$9( '+0,( +=
-$)0->)&-.( +&,9( 49>6-+>0-%8( $),%)=( %4
QC5@J?(i$%>)():0>6,)4(0$)(0&&#,0$()$9-7)5 0*0%,03,)?(A94-)>%8(',#8+8+$-%8+%24(#4#5
$%/()%'()*+'.-'-
>04( 044+8%0-)2( 1%-7( -7)( 80$$%)$( 4-0-)( += 0,,9( 4#66$)44( ^KG.( 3#-( $)8#$$)&8)( %4
0@HB>I9BK>8>PC 87$+&%8('$0&#,+>0-+#4( 2%4)04)@Z(+$(0( ,085 8+>>+&(17)&(-7)4)(2$#'4(0$)(4-+66)2?
-0-)( 2)792$+')&04)( Y54#3#&%-( 2)<5 A94-)>%8(-7)$069(1%-7(0&-%6$#$%-%84(>09
A#6)$<8%0,( ^KG( 704( )6%2)$>0,( 870&')4 8%)&89?@d( D7)$)( 0$)( 0,4+( &)#-$+67%,%8( 0&2 7),6?(D+6%80,(*%-0>%&("(0&0,+'#)4.(6)$5
+=( 60$0R)$0-+4%4( 0&2( 46+&'%+4%4.( 1%-7 7064( 8+>3%&)2( 1%-7( #,-$0*%+,)-( %$$02%05
0( 4#6)$<8%0,( 6)$%*048#,0$( %&<,-$0-)( H4))
#+,&10)* -%+&.(0$)(0&+-7)$(+6-%+&?CS.C!(^>6%$%8(#4)
)N%'4?( QC5C?C( 0&2( QC5C?U( %&( +&5,%&)( )2%5 +=(0&-%3%+-%8.(0&-%=#&'0,.(+$(0&-%580&2%20,
-%+&J?( "))6( ^KG( ,08R4( )6%2)$>0,( 20>5 >)LL.2.$5),'*>),&$%-)-*%L*<2M51.",*
0')&-4(704(4+>)-%>)4(3))&(#4)=#,?CT(E%5
0')( 0&2( 704( %&-)&4)( ,9>67+7%4-%+89-%8 6$$#',2.*+.$52)L#&#"*F<6+H
+,+'%84( >09( $)6$)4)&-( 9)-( 0&+-7)$( +65
8#=<&'( 03+#-( 3+-7( -7)( 4#6)$<8%0,( 0&2 !"#$%&'()*+ -%+&?CZ(M&(')&)$0,.(>+4-(+=(-7)(-7)$06)#5
2))6(*)44),4(HN%'?(QC5UJ?(D7)$)(%4(>%&%>0, ,7?=9B>IKCB7+@AL7JB@>AH -%8(066$+087)4(#4)2(=+$(87$+&%8(#$-%80$%0
606%,,0$9(2)$>0,()2)>0(0&2(&+(46+&'%+5 '@A79+Q7?H@J>8>? 80&(0,4+(3)(-$%)2(=+$(^KG?
4%4?(a&)(47+#,2(4)0$87(80$)=#,,9(=+$(>#5 .?CBK7=9+=@P?9AH
8%&(04(0(8,#)(-+(,#6#4()$9-7)>0-+4#4? %AA<89?+<?B@J9?@9
$<I<H+7?CBK7=9B>H<H e.*+).#.)."2.-
(BK7?+$9F>?9B>?C+'7HBH k+$<I<H+B<=@E<H+L>?+E77I+.%2
'K7+L<88+?7L7?7AJ7+8@HB+L>?+988+JK9IB7?H+
k+-<F9J<B7+8<I<H+7?CBK7=9B>H<H+L>?+
D7)$)(0$)(&+(+-7)$(,03+$0-+$9(-)4-4(2%0'5 H<I7?MJ@98+.%2 @H+9Q9@89F87+9B+NNN:E@P=W:J>=:
&+4-%8(=+$(^KG? %AA<89?+IH>?@9H@H C? b%>(b`()-(0,l(G,%&%8+60-7+,+'%8(0&0,94%4
+=( !!( 804)4( +=( )$9-7)>0( 0&&#,0$)( 8)&5
,"-#'.)/ -$%=#'#>? ;(O'2)!$/4 *#l!@.(CIIC
,!##.)."'!%$+,!%;"(-!- .?CBK7=9+=<8B@L>?=7 U? V)9)$4( V.( "%0B5G0480/+( G.( V)9)$4( Ml
HE+:(QC5@J ^$9-7)>0(0&&#,0$)(8)&-$%=#'#>l(O)4#,-4
;?9A<8>=9B><H+E@H79H7H+SP?9A<8>=9+
+=( 0( 8,%&%8+60-7+,+'%8( 4-#29( +=( TU
9AA<89?7D+9JB@A@J+P?9A<8>=9D+H9?J>@E>H@HT 60-%)&-4? <)( ;( O'2)!$/#!$1/4 *%lQS@.
D7)( 2%==)$)&-%0,( 2%0'&+4-%8( 870,,)&')( %&
/<88><H+I7=IK@P>@E+S<?B@J9?@98+IK9H7T CIIU
^KG( %4( -1+=+,2?( N%$4-( +&)( >#4-( ):8,#2)
$7<R>JCB>J89HB@J+Q9HJ<8@B@H+S7HI7J@988C+@A+ !? Y07++2(`Yl(^$9-7)>0(0&&#,0$)(8)&-$%5
+-7)$( )$#6-%+&4( -70-( 80&( 066)0$( 4%>%,0$. =#'#>l(K($)*%)1(+=(CQ(804)4(1%-7(46)5
4#87(04()$9-7)>0(>%'$0&4(04(-7)(<$4-(4%'& JK@8E?7AT
8%0,( $)=)$)&8)( -+( %-4( 044+8%0-%+&( 1%-7
+=(3+$$),%+4%4(H4))(G706?(@ZTJ(+$()$9-7)>0 .?CBK7=9+=9?P@A9B<= #&2)$,9%&'( 2%4)04)?( B4%+( I@#( O'2)!$/4
'9$0-#>($)6)&4.(17%87(%4(')&)$0,,9(>+$) .?CBK7=9+PC?9B<=+?7I7AH (lUZU.(@dZU
"7J?>8CB@J+=@P?9B>?C+7?CBK7=9 @S? ]0$8%0(Y#$)-(Yi()-(0,l(K&�,,9($)8#$5
$06%2,9(>+*%&'(0&2(#4#0,,9($)L)8-4(0&(#&5 $%&'( )$9-7)>0(0&&#,0$)( 8)&-$%=#'#>l(K
2)$,9%&'( >0,%'&0&89( H4))( G706?( @SQJ?( M& 0CI7?7>H@A>IK@8@J+HCAE?>=7
2%4-%&8-( )&-%-9u( ;( <)( <6!"( O'2)!$/4
022%-%+&.(-7)$)(0$)(2%4)04)4(-70-(80&(8,%&%5 29??@7?+HB9B7+JK?>A@J+P?9A<8>=9B><H+ %'l@Id@.(CII!
80,,9(6$)4)&-(04(^KG.(3#-(3%+649(1%,,(6$+5 E@H79H7 CS? ]&%02)8R%( Ol( G0,8%6+-$%+,( =+$()$9-7)>0
*%2)( 0( 2%==)$)&-( 0&41)$?( M&8,#2)2( %&( -7%4 07?7E@B9?C+89JB9H7+E7KCE?>P7A9H7+ 0&&#,0$)( 8)&-$%=#'#>?( ?2( ;( O'2)!$/4
&GH<F<A@B+E7MJ@7AJC !'$lU@T.(CIIC
'$+#6( 0$)( ,)#R+89-+8,04-%8( *048#,%-%4. CT? ")(K,+)(]()-(0,l(^$9-7)>0(0&&#,0$)(8)&5
'$0&#,+>0-+#4(2%4+$2)$4.(>)-04-04)4.(0&2 #9=@8@98+9AA<89?+7?CBK7=9 -$%=#'#>( 4#88)44=#,,9( -$)0-)2( 1%-7( >)-5
)+4%&+67%,%8(%&<,-$0-)4?@T %AA<89?+7?CBK7=9H+>L+@AL9AJC $+&%20B+,)? B4%+( I@#( O'2)!$/4( &)lSZU.
D7)&( 8+>)4( -7)( 6$+3,)>( +=( -7)( >0&9 CIIS
0*12+#%34*)%54$ CZ? Y%&&%( `.( A0$$+( Ol( K( &+*),( -7)$06)#-%8
+22( 2%4+$2)$4( -70-( 80#4)( 8+&=#4%+&.( 3)5 $<I<H+7?CBK7=9B>H<H 066$+087( -+( )$9-7)>0( 0&&#,0$)( 8)&-$%5
80#4)( -7)9( 4))>( -+( 70*)( 2%4-%&8-%*)( =)05 1AE7?8C@AP+B<=>?+>?+9AA<89?+=7B9HB9H@H =#'#>? ;( <)( <6!"( O'2)!$/4( %'lA@UQ.
!<A -#$)4(3#-(0$)($0$),9()&8+#&-)$)2(H4))(D03,) CII!
0&2(0&(+8-+6#4(3%-).@S(0&2(%&4)8-(3%-)($)5
20%4'.)+_5 08-%+&4(70*)(3))&(%>6,%80-)2?U(D7)$)(%4(0 ;)%"1$(&%
$)6+$-(+=(6)$=+$0-%&'('$0&#,+>0(0&&#,0$)
&#,0$)( 0&2( &)8$+3%+4%4( ,%6+%2%80( 2%03)-%5 D7)( 2+$40,( 70&24( 0&2( =))-.( 0&R,)4.
2$!"!2%$+#!",!";-
8+$#>( 0&2( -7)( 8+5):%4-)&8)( +=( 3+-7 ,+1)$( ,%>34.( 0&2( 1$%4-4( 0$)(-7)( 4%-)4( +=
8+&2%-%+&4(%&(+8804%+&0,(2%03)-%8(60-%)&-4ST 0@HB>?C 6$)2%,)8-%+&( H4))( N%'4?( QU5@. QU5CJ?( \)44
4#'')4-(0(-$#)(044+8%0-%+&?(F+1)*)$.(>+4- 8+>>+&,9.( ,)4%+&4( +88#$( 0-( +-7)$( 4%-)4.
60-%)&-4( 1%-7( '$0&#,+>0( 0&&#,0$)( 2+( &+- D7)( -96%80,( 7%4-+$9( %4( +=( +&)( +$( >+$) %&8,#2%&'( -7)( )9),%24?ZT( D7)( 60,>4( 0&2
606#,)4( 1%-7( 8)&-$%=#'0,( )&,0$')>)&-
70*)(2%03)-)4(>),,%-#4?(A-#2%)4(0--)>6-%&' 4+,)4( 0$)( +8804%+&0,,9( %&*+,*)2?Z@.ZC( \+5
-+( )4-03,%47( 0( 80#40,( 8+$$),0-%+&( 70*) 0&2( 8)&-$0,( 8,)0$%&'?( D7)4)( 0&&#,0$( ,)5 80,%B)2( 0&&#,0$( ,)4%+&4( >09( 8+5):%4-
9%),2)2(8+&L%8-%&'($)4#,-4?SS.!C.!U 4%+&4( 0$)( +=-)&( >%42%0'&+4)2( 04( -%&)0 1%-7(-7)(4#38#-0&)+#4(+$(60-87(=+$>4?
8+$6+$%4(0&2(-$)0-)2(#&4#88)44=#,,9(1%-7
]$0&#,+>0( 0&&#,0$)( 704( 0,4+( +85
8#$$)2(%&(0(&#>3)$(+=(60-%)&-4(1%-7(-795 -+6%80,( 0&-%=#&'0,( 0')&-4?( A#38#-0&)+#4 8;M;:CR,V;K+HOJ; D7)(')&)$0,%B)2(=+$>
$+%2%-%4.( 796+-79$+%2%4>.( 0&2( -79$+%2 &+2#,)4( >09( $0%4)( 4#46%8%+&( 03+#-( >05 +=( '$0&#,+>0( 0&&#,0$)( %4( 40%2( -+( 8+>5
,%'&0&89(+$($7)#>0-+%2(2%4)04)? 6$%4)(Z(6)$8)&-(-+(@S(6)$8)&-(+=(804)4?U.QU
02)&+>0?Sd.!QP!T
]$0&#,+>0(0&&#,0$)(%4(#4#0,,9(049>65 D7)(>0/+$%-9(+=(60-%)&-4(0$)(02#,-.(3#-(%-
-+>0-%8? Y%,2( 6$#$%-#4( >09( 3)( 6$)4)&-. >09(3)(4))&(%&(87%,27++2?QU.ZZ(o&,%R)(%&
PCR,8MCM2O K&( 044+8%0-%+&( 3)-1))& 3#-( 60%&=#,( ,)4%+&4( 0$)( $0$)?Z@.ZC( _+2#,0$
'$0&#,+>0( 0&&#,0$)( 0&2( >0,%'&0&89( %& ,+80,%B)2(2%4)04).(-7)(-$#&R(%4(=$);#)&-,9
,)4%+&4(+&(-7)(=))-(>09(80#4)(2%48+>=+$- %&*+,*)2.(%&(022%-%+&(-+(-7)(&)8R(0&2():5
02#,-(60-%)&-4(%4($)6+$-)2(6$%>0$%,9(1%-7
=$+>(=++-1)0$?ZU(G+4>)4%4(%4(+=-)&(0(8+&5 -$)>%-%)4?( D7)( =08).( 480,6.( 60,>4.( 0&2
F+2'R%&( 0&2( &+&5F+2'R%&( ,9>67+>0. 8)$&( =+$( 02+,)48)&-( 0&2( 02#,-( 60-%)&-4.
%&8,#2%&'( >98+4%4( =#&'+%2)4.( \)&&)$- 4+,)4(>09(0,4+(3)(0==)8-)2?QU
60$-%8#,0$,9(1%-7(')&)$0,%B)2(2%4)04)? ])&)$0,%B)2('$0&#,+>0( 0&&#,0$)(6$)5
,9>67+>0.( E58),,( 2%4)04).!ZPT@( 0&2( D5
8),,( ,0$')( 8),,( ,9>67+89-%8( ,)#R)>%0?TC 4)&-4(04(1%2)46$)02(606#,)4(HN%'?(QU5UKJ.
M-(%4($)6+$-)2(,)44(8+>>+&,9(1%-7(4+,%2 2<B9A7><H+$7H@>AH 4+>)( +=( 17%87( 8+0,)48)( -+( =+$>( 4>0,,
-#>+$4.( 60$-%8#,0$,9( +=( -7)( 3$)04-?QU.!Z 0&&#,0$( 6,0;#)4( +$( ,0$')$( 2%48+,+$)2
G,%&%80,( *0$%0&-4( +=( '$0&#,+>0(0&&#,0$) 60-87)4( 1%-7( $0%4)2( 0$8#0-)( 0&2( 4)$5
D7)(4R%&(,)4%+&4(+=(8#-0&)+#4(,9>67+>0
%&8,#2)( -7)( ,+80,%B)2.( ')&)$0,%B)2.( 4#35 6%'%&+#4( >0$'%&4( H4))( N%'?( QU5UEJ?( \)5
0&2(+-7)$(7)>0-+,+'%8(>0,%'&0&8%)4(>09
8#-0&)+#4.(6)$=+$0-%&'.(0&2(60-87(-96)4? 4%+&4(>09(3)(4R%&(8+,+$)2.(6%&R.(*%+,05
>%>%8( '$0&#,+>0( 0&&#,0$)( 3+-7( 8,%&%5
\%&)0$('$0&#,+>0(0&&#,0$).ZQ(0(=+,,%8#,0$ 8)+#4.( -0&.( +$( 9),,+1?( K&( 0&&#,0$( +$
80,,9( 0&2( 7%4-+60-7+,+'%80,,9?TU.TQ( M-( >09
6#4-#,0$( =+$>.ZS( 0&2( 606#,0$( #>3%,%5 &+&50&&#,0$(>+$67+,+'9(>09(6$)2+>%5
3)( 2%=<8#,-( -+( 2%4-%&'#%47( 17)-7)$( -7)9
80-)2( ,)4%+&4( %&( 87%,2$)&Z!( 70*)( 0,4+ &0-)?QU( K( ')&)$0,%B)2( =+$>( +=( 6)$=+$0-5
$)6$)4)&-( -$#)( '$0&#,+>0( 0&&#,0$)( 1%-7
3))&( 2)48$%3)2?( D7)$)( %4( +*)$,06( 3)5 %&'( '$0&#,+>0( 0&&#,0$)( 704( 0,4+( 3))&
0-96%80,(,9>67+89-)4.(+$(8#-0&)+#4(,9>5
-1))&( -7)( 2%==)$)&-( *0$%0&-4.( 0&2( >+$) 2)48$%3)2?S.T
67+>0(+348#$)2(39(0('$0&#,+>0-+#4(%&5
-70&(+&)(>+$67+,+'%8(-96)(>09(8+5):%4-
<,-$0-)?TI.T@
%&(-7)(40>)(60-%)&-? L9Q29HCM;I9L+HOJ; D7)( 4#38#-0&)+#4
=+$>( +=( '$0&#,+>0( 0&&#,0$)( +88#$4
RI2CR,V;K+HOJ; D7)(>+4-(8+>>+&(=+$>
49BK>P7A7B@J+&7JK9A@H=H
+=( '$0&#,+>0( 0&&#,0$)( %4( 0&( 0&&#,0$( +$
D7)( 60-7+')&)-%8( >)870&%4>4( -70-( $)5 0$8#0-)( ,)4%+&?( M-( >09( 3)( 4R%&( 8+,+$)2.
4#,-( %&( =+8%( +=( 0,-)$)2( 8+&&)8-%*)( -%44#) )$9-7)>0-+#4.( +$( *%+,08)+#4?( M-( #4#0,,9
4#$$+#&2)2(39(0('$0&#,+>0-+#4(%&L0>5 >)04#$)4( @( -+( S( 8>( %&( 2%0>)-)$?U( D7)
>0-+$9( %&<,-$0-)( 0$)( &+-( #&2)$4-++2? 0&&#,0$(>0$'%&(%4(<$>(-+(60,60-%+&(0&2
i$+6+4)2(>)870&%4>4(%&8,#2)( H@J(0(6$%5 >09(3)(8+&-%&#+#4(+$(8+&4%4-(+=(2%48$)-)
>0$9(2)')&)$0-%*)(6$+8)44(+=(8+&&)85 +$( 8+0,)48)&-( 606#,)4( %&( 0( 8+>6,)-)( +$
-%*)( -%44#)( %&%-%0-%&'( '$0&#,+>0-+#4 60$-%0,(8%$8,)(HN%'?(QU5@J?(D7)()6%2)$>%4(%4
%&=,0>>0-%+&.TS(HCJ(0(,9>67+89-)5>)2%5 #4#0,,9( &+$>0,.( 3#-( 4#$=08)( >0$R%&'4
0-)2( %>>#&)( $)08-%+&( $)4#,-%&'( %& >09(3)(0--)�-)2(+*)$(%&2%*%2#0,(6065
>08$+670')( 08-%*0-%+&( 0&2( 89-+R%&)5 #,)4?( V%-7%&( -7)( 0&&#,0$( $%&'.( -7)( 4R%&
>)2%0-)2( 2)'$020-%+&( +=( 8+&&)8-%*) >09(70*)(0(*%+,08)+#4(+$(6%'>)&-)2(065
-%44#).CT.T!PZI( 0&2( HUJ( 0( 4#3-,)( *048#,%-%4 6)0$0&8)?( A+,%-0$9( <$>( 606#,)4( +$( &+25
+$(+-7)$(>%8$+0&'%+60-79(,)02%&'(-+(-%45 #,)4(>09(0,4+(3)(6$)4)&-?(i06#,0$(,)4%+&4 7,89:;+>!=5 $>J98@^7E+ P?9A<8>=9+ 9AA<89?7
!@6 4#)(%&/#$9?T! +&(-7)(<&')$4(>09(066)0$(#>3%,%80-)2? N@BK+A>E<87+>A+BK7+K9AE+>L+9+JK@8E:
C Q
7,89:;+>!=! CY+;7A7?98@^7E+P?9A<8>=9+9AA<89?7:+-=988+I9I<89?+87H@>AH+BK9B+9?7+B>>+H=988+B>+7OK@F@B+9AA<89?+J>AMP<?9B@>A:+QY+&<8B@I87+9AA<89?+87H@>AH+>A
BK7+8>N7?+9?=:+
6$)2+>%&0&-,9( %&( 87%,2$)&Zd.dI( 3#-( %4 -7)>0( 704( 3))&( 2)48$%3)2( %&( 0&( FM[5 &)+#4( &+2#,0$( 2%4)04)( +&( -7)( 7)02( 0&2
0,4+( 2)48$%3)2( %&( 02#,-( 60-%)&-4?d@PdU( M- 6+4%-%*)(60-%)&-?CT +$3%-0,($)'%+&?
%4(870$08-)$%B)2(39(<$>(-+(70$2.(#4#0,,9
049>6-+>0-%8( &+2#,)4( ,+80-)2( %&( -7)
2))6(2)$>%4(0&2(4#38#-0&)+#4(-%44#)4? )789B7E+4KCH@J98+#@AE@APH 0@HB>I9BK>8>P@J+#@AE@APH
D7)9( >09( ):-)&2( -+( #&2)$,9%&'( >#45 Y+4-(60-%)&-4(1%-7('$0&#,+>0(0&&#,0$) D7)(2%0'&+4%4(%4(3)4-(>02)(0-(,+1(>0'5
8,).(0&2(&+2#,)4(+&(-7)(480,6(0&2(+$3%- 0$)(7)0,-79(0&2(70*)(&+(+-7)$(03&+$>0, &%<80-%+&?(G70&')4(0$)(#4#0,,9(+34)$*)2
0$)( +=-)&( 027)$)&-( -+( -7)( #&2)$,9%&' 6794%80,(<&2%&'4?(K$-7$0,'%0( %4( $)6+$-)2 %&( -7)( #66)$( 0&2( >%22,)( 2)$>%4.( 0,5
6)$%+4-)#>? %&( 044+8%0-%+&( 1%-7( 60%&=#,( ,)4%+&4( +& -7+#'7(0&9(60$-(+=(-7)(2)$>%4(+$(4#38#5
M&2%*%2#0,( ,)4%+&4( >)04#$)( =$+>( ! -7)( 70&24?ZC( ]$0&#,+>0( 0&&#,0$)P,%R) -%4( 80&( 3)( %&*+,*)2?( D7)( 870$08-)$%4-%8
>>(-+(U?S(8>(%&(2%0>)-)$?dI.dQ(D7)9(0$) 4R%&(,)4%+&4(0&2(/+%&-(2%4)04)(870$08-)$5 7%4-+60-7+,+'%8( <&2%&'( %4( 0( ,9>67+7%45
2%4-$%3#-)2( >+4-( +=-)&( +&( -7)( 0&-)$%+$ %B)(0(>#,-%494-)>(2%4+$2)$(2)48$%3)2(04 -%+89-%8( '$0&#,+>0( 044+8%0-)2( 1%-7
,+1)$( ,)'4( %&( 0( 6$)-%3%0,( ,+80-%+&?Zd %&-)$4-%-%0,( '$0&#,+>0-+#4( 2)$>0-%-%4 *0$9%&'(2)'$))4(+=(8+&&)8-%*)(-%44#)(2)5
a-7)$( 4%-)4( +=( 6$)2%,)8-%+&( 0$)( -7)( 0&5 1%-7(0$-7$%-%4?@I! ')&)$0-%+&( 0&2( >#8%&( 2)6+4%-%+&?( D7)
R,)4.(2+$40,(=))-.(3#--+8R4.(0&2(70&24?dU.dS a$0,(%&*+,*)>)&-(104(+34)$*)2(%&(+&) %&L0>>0-+$9(%&<,-$0-)(>09(70*)(0(60,%5
_+2#,)4( +&( -7)( 480,6.dQ.d!( )9),%24.dTPdd 60-%)&-(1%-7(FM[5044+8%0-)2(2%4)04)?CQ 402)2(+$(%&-)$4-%-%0,(60--)$&.(+$(0(>%:-#$)
0&2(+$3%-0,($%>!I.@II.@I@(>09(6$)4)&-(0(2%5 +=( 3+-7( 60--)$&4?@ITP@Id( ( a8804%+&0,,9.( 0
0'&+4-%8(870,,)&')?(A#38#-0&)+#4('$0 40$8+%25,%R)( 60--)$&( 1%-7( ,0$')( )6%-7)5
,+>0(0&&#,0$)(>09(0,4+(3)(=+#&2(+&(-7) $%/()%'()*+'.-'- ,%+%2(7%4-%+89-)4(%4(4))&?@IT
6)&%4?@IC K( 2%0'&+4%4( +=( ,+80,%B)2( 0&&#,0$( '$0 D7)(-96%80,(066)0$0&8)(%4(+=(4%&',)(+$
,+>0(0&&#,0$)(%4(>02)(+&(8,%&%80,():0>5 >#,-%6,)( =+8%( +=( %&L0>>0-%+&( 1%-7( 0
J;:7I:CH,M8+HOJ; D7)( 6)$=+$0-%&'( -96) %&0-%+&.( 0&2( =#$-7)$( )*0,#0-%+&( %4( $0$),9 8)&-$0,(8+$)(+=(0,-)$)2(8+,,0')&(H&)8$+3%5
+=( '$0&#,+>0( 0&&#,0$)( %4( 0( $0$)( *0$%0&- %&2%80-)2?( E%+649( -+( +3-0%&( 0( 46)8%>)& +4%4J(4#$$+#&2)2(39(0(10,,(+=(60,%402)2
870$08-)$%B)2(39(-$0&45)6%2)$>0,(),%>%&05 =+$( 7%4-+60-7+,+'%8( ):0>%&0-%+&( %4( &)85 7%4-%+89-)4( HN%'?( QU5QJ?( D7)( &)8$+3%+-%8
-%+&(+=(-7)(&)8$+3%+-%8(8+,,0')&?(M-(>09(3) )440$9( 17)&( -7)( 6$)4)&-0-%+&( %4( 0-96%5 8)&-)$4( 0$)( #4#0,,9( +*0,.( 4,%'7-,9( 304+5
,+80,%B)2.(#4#0,,9(-+(-7)(2+$40,(70&24(0&2 80,.(17)&(,)4%+&4(0$)(49>6-+>0-%8.(0&2 67%,%8.(2)*+%2(+=(,)%.(0&2(>0$R)2(39
<&')$4( H4))( )N%'?( QU5U?@( %&( +&5,%&)( )2%5 17)&( -7)( 2%0'&+4%4( %4( +-7)$1%4)( %& 0(,+44(+=(2)<&%-%+&(+=(-7)(8+,,0')&(3#&5
-%+&J.( +$( ')&)$0,%B)2( +*)$( -7)( -$#&R( 0&2 2+#3-?(F%4-+60-7+,+'%8(0&0,94%4(>09(3) 2,)4(0&2(2%>%&%47)2(+$(034)&-(),04-%8(-%45
):-$)>%-%)4?S.T( M-( 704( 3))&( 2)48$%3)2( +& $);#%$)2(-+(8+&<$>(0(2%0'&+4%4(+=(')&)$5 4#)(<3)$4?(A-0%&4(=+$(>#8%&(0&2(,%6%2(+=5
-7)()0$4@IU(0&2(1%-7%&(7)$6)4(B+4-)$(480$4 0,%B)2( '$0&#,+>0( 0&&#,0$)( +$( 4#38#-05 -)&('%*)(6+4%-%*)($)4#,-4?
0&2( -0--++4?@!( A#6)$<8%0,( 4>0,,( 606#,)4
2)*),+6( 8)&-$0,( #>3%,%80-%+&( +$( 8$#4-%&'.
0&2(-7)$)(>09(3)(2%4870$')(+=(0(8$)0>9
L#%2?( \)4%+&4( 7)0,( 1%-7( 0-$+67%8( +$( 795
6)$6%'>)&-)2(480$4?(M&(+&)(4)$%)4.(CQ(6)$5
8)&-( +=( 60-%)&-4( 8+>6,0%&)2( +=( 6$#$%-#4
0&2(C@(6)$8)&-(+=(60%&?@IQ(i06#,0$(#>3%,%5
80-)2( '$0&#,+>0( 0&&#,0$)( +&( -7)( 70&24
+=( 87%,2$)&Z!( 0&2( 0( ')&)$0,%B)2( =+,,%8#,0$
6#4-#,0$( -96)( +=( '$0&#,+>0( 0&&#,0$)ZS
>09(3)(8,%&%80,(*0$%0&-4?
7,89:;+>!=> 498@H9E@AP
P?9A<8>=9B><H+@Ac9==9B@>A+H<?G
JCH2$+HOJ; Y08#,0$(,)4%+&4(-70-(6$)4)&-
04( )$9-7)>0-+#4.( $)253$+1&.( +$( *%+,05 ?><AE@AP+E7P7A7?9B@AP+J>889P7A
8)+#4( 60-87)4( 1%-7+#-( 0&( 0&&#,0$( $%> N@BK@A+BK7+E7?=@H:+S07=9B>OC8@A
0$)( $)6+$-)2( %&( 02#,-( 1+>)&?ZI.@IS( K& 9AE+7>H@A+HB9@AD+#]XX:T+S1H7E
0$8#0-)( 2)$>0,( )$9-7)>0( %4( 0,4+( +35 N@BK+I7?=@HH@>A+L?>=+,?:+)@JKG
4)$*)2?( ])&)$0,%B)2( 8+&L#)&-( )$95 9?E+2?9NL>?E:T !@"
#+,&1')* #+,&1')0
>)LL.2.$5),'*>),&$%-)-*%L*D2,$#'%",*6$$#',2. 02.,5".$5*?N5)%$-*L%2*
D2,$#'%",*6$$#',2.
CMM9RC:+HOJ; L9Q29HCM;I9L+HOJ;
,"-#'.)/ ,"-#'.)/ %N9@B+HI>AB9A7><H+?7H>8<B@>A
'@A79+J>?I>?@H .?CBK7=9+A>E>H<= %II8C+B>I@J98+J>?B@J>HB7?>@E+N@BK+>?+N@BK><B+
-<F9J<B7+J<B9A7><H+8<I<H+7?CBK7=9B>H<H ,7?=>@E+JCHB >JJ8<H@>A
"7>A9B98+8<I<H+7?CBK7=9B>H<H )K7<=9B>@E+A>E<87H %E=@A@HB7?+@AB?987H@>A98+B?@9=J@A>8>A7+
%AA<89?+8@JK7A+I89A<H ]:Z+=Pf=$YY5
%J<B7+L7F?@87+A7<B?>IK@8@J+E7?=9B>H@H 34*)%54$ CM;2KIHCR+:;JI:HL+I7+Q;M;7,H
.?CBK7=9+JK?>A@J<=+=@P?9AH .I@BK78@>@E+H9?J>=9 '>I@J98
%JB@A@J+P?9A<8>=9 /7A@PA+>?+>BK7?+=98@PA9AB+B<=>?H k+'9J?>8@=<H+X:Yu+>@AB=7ABYY_
"7J?>F@>H@H+8@I>@E@J9+E@9F7B@J>?<= ,77I+@AL7JB@>AH k+4@=7J?>8@=<H+J?79=YYZ
k+!=@b<@=>E+Zu+J?79=YY6DYYW
34*)%54$ J;:7I:CH,M8+HOJ; !AB?987H@>A98
!AL7JB@>AH+S7:P:D+B<F7?J<8>H@HD+9BCI@J98+=CJ>G ,"-#'.)/ k+!AB7?L7?>AG YY\
F9JB7?@9D+HCIK@8@HT &>88<HJ<=+J>AB9P@>H<= k+!AB7?L7?>AG YY\
!AB7?HB@B@98+P?9A<8>=9B><H+E7?=9B@B@H+N@BK+ !AH7JB+F@B7H k+-B7?@87+N9B7?+>?+H98@A7YY5
9?BK?@B@H 4@BC?@9H@H+8@JK7A>@E7H -CHB7=@J
!AB7?HB@B@98+P?9A<8>=9B><H+E?<P+?79JB@>A 47?L>?9B@AP+J>889P7A>H@H+9AE+>BK7?+I7?L>?9BG k+%AB@=989?@98H\\
%AA<89?+H9?J>@E>H@H @AP+E@H>?E7?H k+)7B@A>@EHYYVdY]5
$C=IK>=9 #>?7@PA+F>EC+P?9A<8>=9 k+2>?B@J>HB7?>@EH\5DV\
49I<8>A7J?>B@J+B<F7?J<8@E k+2CJ8>HI>?@AW]DY]_
8;M;:CR,V;K+HOJ; 498@H9E7E+A7<B?>IK@8@J+9AE+P?9A<8>=9B><H+ k+v@87<B>A+N@BK+Q@B9=@A+.Y]Z
,"-#'.)/ E7?=9B@B@H+>L+@==<A7+J>=I87O+E@H79H7 k+2K8>?9=F<J@8D+A@9J@A9=@E7D+I>B9HG
$@JK7A+I89A<H H@<=+@>E@E7D+L<=9?@J+9J@E+7HB7?HD+
$@JK7A+A@B@E<H JCH2$+HOJ; E9IH>A75D_5D\5
&>88<HJ<=+J>AB9P@>H<= ,"-#'.)/ k+.B9A7?J7IBY]6
&>?IK79 k+!Ac@O@=9FY]W
34*)%54$ .?CBK7=9+9AA<89?7+J7AB?@L<P<= k+.L98@^<=9FY]\
$@JK7A>@E+9AE+P?9A<8>=9B><H+E7?=9B@B@H+>L+ 49?9IH>?@9H@H (BK7?
9Jb<@?7E+@==<A>E7MJ@7AJC+HCAE?>=7 k+4K>B>BK7?9IC_WdZX
!AL7JB@>AH+S7:P:D+B<F7?J<8>H@HD+9BCI@J98+=CJ>G 34*)%54$ k+-R@A+F@>IHCY]V
F9JB7?@9D+HCIK@8@HT $C=IK>=9 k+2?C>BK7?9ICY5X
-9?J>@E>H@H k+4<8H7E+EC7+>?+2(]+89H7?Y5YDY5]
/89<+HCAE?>=7+SL9=@8@98+P?9A<8>=9B><H+
9?BK?@B@HD+HR@A+7?<IB@>AD+9AE+<Q7@B@HT
!AB7?HB@B@98+P?9A<8>=9B><H+E?<P+?79JB@>A 2$!"!2%$+2(1)-.+
$C=IK>=9 %",+4)(;"(-!-
Y+4-(804)4(+=(,+80,%B)2('$0&#,+>0(0&
,0$)( $)4+,*)( 46+&-0&)+#4,9( 1%-7+#-( 4)5
M>>#&+L#+$)48)&8)(-)4-%&'(>09(47+1 M>0'%&'( 4-#2%)4( >09( 3)( 6)$=+$>)2( %&
;#),0)?( \)4%+&4( >09( 8,)0$( 1%-7%&( 0( =)1
2)6+4%-%+&(+=(<3$%&.(%>>#&+',+3#,%&(Y. 4#38#-0&)+#4( '$0&#,+>0( 0&&#,0$)( 17)&
1))R4( +$( 6)$4%4-( =+$( 4)*)$0,( 9)0$4?( D7)
0&2( GU( 04( 0( *0$%03,)( <&2%&'( 0$+#&2 -7)(8,%&%80,(=)0-#$)4(0$)(&+-($)8+'&%B)2(+$
>0/+$%-9(2%4066)0$(1%-7%&(C(9)0$4?ZU(O)5
*)44),( 10,,4( +$( 0-( -7)( 304)>)&-( >)>5 17)&( -7)( 6$)4)&-0-%+&( %4( 0-96%80,( 1%-7
8#$$)&-( ,)4%+&4( >09( 2)*),+6( >+&-74( +$
3$0&)(B+&)e(%>>#&+',+3#,%&(Y(89-+%2 $06%2()&,0$')>)&-(+$(60%&?@@C(O02%+'$0674
)*)&( 9)0$4( ,0-)$.( =$);#)&-,9( 0-( -7)( 40>)
3+2%)4( 0$)( 0,4+( $)6+$-)2?@I!( o,-$04-$#85 47+1(0(&+&546)8%<8(4+=-(-%44#)(>044(1%-75
4%-)?(])&)$0,%B)2('$0&#,+>0(0&&#,0$)(+=5
-#$0,(870&')4(%&(-7)(8+&&)8-%*)(-%44#)(0&2 +#-(80,8%<80-%+&(+$(3+&)(%&*+,*)>)&-?(o,5
-)&($#&4(0(>+$)(6$+-$08-)2(8+#$4)?QU(i)$5
806%,,0$%)4(70*)(3))&(2)48$%3)2?TS -$04+&+'$067%8():0>%&0-%+&($)*)0,4(0(795
=+$0-%&'( '$0&#,+>0( 0&&#,0$)( $)4#,-4( %&
6+)87+%8(0$)0(%&(-7)(4#38#-0&)+#4(-%44#)4?
480$$%&'?@IQ(D7)$)(%4(+&)($)6+$-(+=(0&)-+5
Y0'&)-%8( $)4+&0&8)( %>0'%&'( 47+14( 0
2)$>0( 0&2( >%252)$>0,( ),04-+,94%4( 0=-)$
-I7J@98+'7HBH >044( 1%-7( %&2%4-%&8-( >0$'%&4.( %4+%&-)&4)
')&)$0,%B)2('$0&#,+>0(0&&#,0$)?QQ
+$( 4,%'7-,9( 796)$%&-)&4)( -+( >#48,)( 1%-7
K( 2%0'&+4%4( +=( '$0&#,+>0( 0&&#,0$)( %4 D@51)%'7-)2(%>0')4(0&2(1%-7(0(7)-)$+')5
>02)( 8,%&%80,,9( +$( 39( 4R%&( 3%+649?( A6)5 &)+#4( 3#-( 6$)2+>%&0&-,9( 7%'7( 4%'&0,( %&5
8%0,(%&*)4-%'0-%+&4(0$)(#4#0,,9(&+-(&)8)45
e.*+).#.)."2.-
-)&4%-9(+&(DC51)%'7-)2(%>0')4?@@C
40$9?( N#$-7)$( )*0,#0-%+&( -+( $#,)( +#- 'K7+L<88+?7L7?7AJ7+8@HB+L>?+988+JK9IB7?H+
494-)>%8( 2%4)04)( 4#87( 04( %&=)8-%+&.( 40$5 @H+9Q9@89F87+9B+NNN:E@P=W:J>=:
8+%2+4%4.( +$( >0,%'&0&89( >09( 3)( $)5 ,!##.)."'!%$+,!%;"(-!-
;#%$)2( %&( 0-96%80,( 804)4( +=( '$0&#,+>0 A)) E+:(QU5@? U? Y#7,30#)$( `^l( ]$0&#,+>0( 0&&#,0$)?( ;
0&&#,0$)?@C.TCPTQ.ZC.@IS( M&*)4-%'0-%+&( =+$ <)(<6!"(O'2)!$/4 &lC@T.(@dZI
QU? "034R%( b.( V%&R),>0&&( Obl( ])&)$0,5
)&2+8$%&)(2%4)04)(%4(%&2%80-)2(%=(-7)(605 %B)2( '$0&#,+>0( 0&&#,0$)l( G,%&%80,( 0&2
-%)&-(704(4%'&4(+$(49>6-+>4(+=(2%03)-)4 ').%'&."'
,03+$0-+$9(<&2%&'4(%&(@II(60-%)&-4?(;(<)
!@5 +$(-79$+%2(294=#&8-%+&? A)) E+:(QU5C? <6!"(O'2)!$/4 *)lUd.(@dZd
TS? F0&&0( VY.( Y+$)&+5Y)$,+( N.( K&5 TT? Y)>6),(Y()-(0,l(D58),,($)8)6-+$($)6)$5 >0-$%:( >)-0,,+6$+-)%&04)4( 0&2( 06+6-+5
2$%'7)--%( \l( ]$0&#,+>0( 0&&#,0$)l( K& -+%$)( 0&2( 89-+R%&)( 60--)$&( %&( '$0 4%4(+=(D(,9>67+89-)4(0&2(>08$+670')4
),04-%8( -%44#)( 2%4)04)u( G04)( $)6+$-( 0&2 ,+>0( 0&&#,0$)l( ")<&%&'( 0( 60$-%8#,0$ %&( '$0&#,+>0( 0&&#,0$)?( <261( O'2)!$/4
,%-)$0-#$)( $)*%)1?( K4$2!0$2*6$*2!4( T!$1/4 -96)( +=( 8#-0&)+#4( '$0&#,+>0-+#4 F'0 *#*lUZQ.(CIII
*&lUU.(@ddd %&L0>>0-%+&? ;(-+&'0$(O'2)!$/4 !!(ldST. dI? N),&)$( ^M.( A-)%&3)$'( `E.( V)%&3)$'( K]l
T!? "07,( Y[l( A6)8#,0-%+&4( +&( -7)( 60-7+5 CIIC A#38#-0&)+#4( '$0&#,+>0( 0&&#,0$)l( K
')&)4%4(+=('$0&#,+>0(0&&#,0$)?(<*0$2!4!0 TZ? N0990B%( K( )-( 0,l( ^:6$)44%+&( +=( MN_5 $)*%)1( +=( QT( 804)4?( T'"%!$2%60 !))ld!S.
;(O'2) *$lQd.(@dZS '0>>0.(8+):6$)44%+&(+=(D_N0,670(0&2 @ddT
!@!
!"#$%&'()%#*+)*+#,*'--.%-)/+%0-'*1%
!"#$%&'( !"#$%!&%#'$('&)"!&%*+,'
! !"((&%&-."+."$-'+-!'/&%+."-"0+."$-
$%&'()*+,-.)/012- 0$4-$.3'*+%-$,-)064/'?$%4.,.4'/<%.*0%'*1
4-$.3'*+% 4)22'/2$*/% /)% 0'(($-$*/'./')*
G%$F.2'+-!'
+3'-4&55()(31&+1&/3 @M'+8% NN1GC8% "#$% 2)3/% ,-'2)-0'.&% 4$&&% '*
/#$%#'$-.-4#<9%/#$%3/$2%4$&&9%#.3%/#$%.F'&1
!"((&%&-."+."$-
#456789':;'*<778=
'/<% /)% -$,-)064$% ()-% /#$% $*/'-$% &'($% 3,.*
)(%/#$%)-+.*'328%L/%'3%-$&./'?$&<%6*0'(($-1 +.'+'G,+-1&'
.>6?@.<86'#>6 $*/'./$09%0'?'0$3%'*(-$56$*/&<9%.*0%)(/$*
)<8==8'+;'1A>7ABC8' -$3'0$3% '*% .% 3,$4'.&'=$0% ,#<3'4.&% &)4.&$
/$-2$0%.%!"#$%8%H(/$-%0'?'3')*9%.%3/$2%4$&&
+'?$3% -'3$% /)9% )*% .?$-.+$9% )*$% 0.6+#/$-
.2&'&)"!&%*"#D'+-'$E&%E"&F 3/$2% 4$&&% /#./% -$2.'*3% '*% /#$% 3/$2% 4$&&
"#$% &'($&)*+% ,-)&'($-./')*% )(% /#$% $,'0$-1 *'4#$% .*0% .*)/#$-9% /$-2$0% .% &'(!)"&*
2'3% .*0% '/3% &)*+1/$-2% 2.'*/$*.*4$% -$1 (+,-"./"!0123451#%--9%/#./%&$.?$3%/#$%3/$2
4$&&% *'4#$8% "#$3$% -.,'0&<% ,-)&'($-./'*+ .N8'<648=KA77<O>75='8H<I8=B<J'<J'B5<645<68I'
56'-$%'*/$-()&&'46&.-%3/$2%4$&&3%.*0%2)&$41 C9'5'HAH>754<A6'AK'J48B'O877J;
6&.-% -$+6&./)-3% )(% $,'0$-2.&% +-)7/#% .*0 4$&&3% 6*0$-+)% (6-/#$-% -$,-)064/'?$% 0'?'1
3')*39% .*0% /#$'-% )((3,-'*+% F)/#% $I,.*0 #7AP@O9O7<6?'J48B'O877J'?<L8'=<J8'4A'4=56@
0'(($-$*/'./')*8% "#'3% 4#.,/$-% ()463$3% )*
/#$% ,),6&./')*% )(% 4$&&3% .-'3'*+% (-)2% /#$ J<4@5BH7<K9<6?'O877JQ'PN<ON'9<87I'48=B<65779'
$,'0$-2.&% 3/$2% 4$&&39% :$-./'*% ;&.2$*/3
'*'/'.&% 3/$2% 4$&&% 2'/)3'3% .*0% ,-)+-$31 I<KK8=864<548I'O877J;
/#./% .-$% 3<*/#$3'=$0% .3% 2.>)-% $,'0$-2.&
3,$4'.&'=./')*%,-)064/39%:$-./)#<.&'*%+-.*1 3'?$&<%4)22'/%'--$?$-3'F&<%/)%0'(($-$*/'.1 +C6A=B57<4<8J'<6'8H<I8=B57'J48B'O877J'
6&$39%.*0%/#$%4)-*';$0%$*?$&),$%@ABC8 /')*% .&)*+% )*$% )-% 3$?$-.&% &'*$.+$38% O6- B59'C8'<6LA7L8I'<6'H54NA?868J<J'AK'JR<6'
:*)7&$0+$%)(%3/$2%.*0%"H%4$&&%&)4./')* O56O8=J'56I'A4N8='H=A7<K8=54<L8'8H<I8=B57'
.*0%(6*4/')*'*+%'*%/#$%'*/$-()&&'46&.-%$,'1 I<J85J8J;
&)"!&%*+,'G%$F.2' 0$-2'3%'3%'*4)2,&$/$8%P$?$-/#$&$339%/#$-$
&H<I8=B57'I<KK8=864<54<A6'<J'5OOABH56<8I'
$I'3/3% .% (-.2$7)-:% )(% 6*0$-3/.*0'*+9G9Q
&H<I8=B57'#48B'1877J 7#'4#% 7'&&% 6*0)6F/$0&<% F$% -$?'3$0% .*0
C9'A=ON8J4=548I'8SH=8JJ<A6'AK'R8=54<6J'
56I'J>C>6<4J'AK'OA=6<T8I'86L87AH8;
D':$% .&&% $,'/#$&'.9% /#$% $,'0$-2'3% 6*0$-1 4&.-';$0%F<%(6/6-$%3/60'$38
+)$3% .% 4)*3/.*/% ,-)4$33% )(% 3$&(1-$*$7.&8 /8=54<6J'OA64=<C>48'4A'4N8'B8ON56<O57'J45@
E-)&'($-./')*% '3% '*'/'./$0% F<% .% 3/$2% 4$&& C<7<49'56I'H7<5C<7<49'AK'4N8'8H<I8=B<J;
&H<I8=B57')=A7<K8=54<L8'M6<4J *>454<A6J'<6'B5UA='8H<I8=B57'I<KK8=864<5@
.*0%)446-3%,-'2.-'&<%'*%/#$%F.3.&%&.<$-8G
H%#'+#&<%)-4#$3/-./$0%,-)+-.2%)(%/$-2'1 L*/$-()&&'46&.-% $,'0$-2.&% 3/$2% 4$&&3% -$1 4<A6'H=AI>O4J'5=8'>6I8=79<6?'O5>J8J'AK'
*.&%0'(($-$*/'./')*%F$+'*3%7'/#%:$-./'*)1 3'0$%./%/#$%F.3$%)(%)-+.*'=$09%#$I.+)*.& <BHA=4564'JR<6'I<J85J8J;
4</$3% $I'/'*+% '*/)% /#$% 36,-.F.3.&% &.<$-39 4)&62*3% )(% 4$&&3% 0$3'+*./$0% %,"6%'+(-
46&2'*./'*+% '*% /#$% ,-)064/')*% )(% 36,$-;1 ,'7-".%'(&"8%1 9!"&)% @BER3C% @M'+8% NN1QC8% "#$
4'.&&<%&)4./$0%4)-*';$0%4$&&39%7#'4#9%'*%$31 '*/$-0'+'/./'*+9% -$,$/'/'?$% 4)&62*.-% )-1 46-3% '*% /#'3% F.3.&% &.<$-9% .*0% $I'/% )(% "H
3$*4$9%4)*3'3/%&.-+$&<%)(%#'+#&<%0'36&;0$J +.*'=./')*% )(% 2)63$% 3:'*% 7.3% ;-3/ 4$&&3%'*/)%/#$%36,-.F.3.&%&.<$-%'3%.44)21
4-)331&'*:$0% .*0% .++-$+./$0% :$-./'*% ;1 *)/$0% F<% S.4:$*='$% '*% GT!U9V% .*0% )6- ,.*'$0%F<%/#$'-%4)22'/2$*/%/)%/$-2'*.&
F$-3% 7-.,,$0% '*% .*% '2,$*$/-.F&$% AB8 6*0$-3/.*0'*+% )(% BER% 3/-64/6-$% #.3 0'(($-$*/'./')*8% "#$% ,-$3$*4$% )(% BER3
"#'3% )6/$-2)3/% 4$&&% &.<$-9% /#$% 3/-./62 4#.*+$0%&'//&$%3'*4$%'/3%'*'/'.&%0$34-',/')* #.3%F$$*% 0$34-'F$0%'*% /#$%3:'*%)(% 3)2$
4)-*$629% '3% /#$% 6&/'2./$% ,-)064/% )(% '*1 F<% E)//$*% '*% GT!N8N% "#$% F.3.&% &.<$-% )( F)0<% 3'/$3% ()-% F)/#% 2)63$WJ!% .*0
/$-()&&'46&.-% $,'0$-2.&% 0'(($-$*/'./')*9 $.4#%(6*4/')*.&&<%'*0$,$*0$*/%.*0%3$&(1 #62.*XJGU% 3:'*8% "#$% $I'3/$*4$% )(% (6*41
.*0% '3% &.-+$&<% -$3,)*3'F&$% ()-% /#$% 3:'*K3 -$*$7'*+% BER% 4)*3'3/3% )(% .,,-)I'1 /')*.&%0'(($-$*4$3%F$/7$$*%/#$%4$*/-.&&<
F.--'$-% (6*4/')*% .+.'*3/% 7./$-% &)33% .*0 2./$&<%GU%4$&&38%H%3'*+&$%$,'0$-2.&%3/$2 &)4./$0% 3/$2% 4$&&3% .*0% /#$% ,$-',#$-.&&<
$*?'-)*2$*/.&%'*36&/38 4$&&%&'$3%./%/#$%4$*/$-9%7'/#%"H%4$&&3%36-1 &)4./$0% "H% 4$&&3% 7'/#'*% '*0'?'06.&
L*%.&&%$,'/#$&'.9%.*%6*0$-&<'*+%#)2$)1 -)6*0'*+% '/8% R*0$-% *)-2.&% #)2$)3/./'4 BER3GG9GQ% #.3% F$$*% 0$2)*3/-./$0% F<% .
3/./'4%3<3/$2%$I'3/3%/)%-$,&.4$%/$-2'*.&&< 4)*0'/')*39% $,'0$-2.&% ,-)&'($-./')*% )41 ?.-'$/<%)(%/$4#*'56$38%H/%.%2.4-)34),'4 !"#
!"#$%&'()* *+,,-*.$*/(0*123%4567&88*!"9#4:&0;<*=:2>*!8&2?*(0%0*@"%*)0%9;*"@*A;0>
78.9:$-;;<> .N8'H=A7<K8=54<L8'N<8=5=ON9'<6'8H<4N87<5D'4N8'J48B'O877'OA6O8H4;'.N8'>74<B548'H=A?86<4A='O877J
5=8'48=B8I'$4&618&''$;'.N89'5=8'J7AP'O9O7<6?Q'7A6?@7<L8IQ'HN86A49H<O5779'>6I<KK8=864<548IQ'=8J<I8'<6'JH8O<57<V8I
B<O=A86L<=A6B864JQ'56I'OA6J4<4>48'A679'5'JB577'H8=O8645?8'AK'4N8'4A457'8H<4N87<57'O877'HAH>754<A6;'#48B'O877'I<L<@
J<A6'H=AI>O8J'4=56J<4'5BH7<K9<6?'A='OABB<448I'H=A?86<4A='O877JQ'PN<ON'O9O78'=5H<I79'56I'H=AI>O8'5'O7A657'8SH56@ 78.9:$-;;<= (>6O4<A657' A=?56<V54<A6' AK' <648=@
J<A6'AK'4N8'AKKJH=<6?'5=<J<6?'K=AB'56'<6<4<57'J48B'O877'I<L<J<A6;'.N8J8'O877J'8L864>5779'C8OAB8'4N8'B54>=8Q'48=B<@ KA77<O>75='8H<I8=B<JD' 4N8' 8H<I8=B57'H=A7<K8=54<L8'>6<4
65779'I<KK8=864<548I'O877J'4N54'OA6J4<4>48'4N8'C>7R'AK'5'?<L86'8H<4N87<57'HAH>754<A6;'->BC8=J'<6I<O548'?868=54<A6; W&)MX'OA6O8H4;'"648=KA77<O>75='8H<I8=B<J'AK'4N8'JR<6'AK
O8=45<6'CAI9'J<48J'<J'N<J4A7A?<O5779'A=?56<V8I'<64A'OA7@
>B6J'48=B8I'!"#$Y'85ON'OA6J<J4J'AK'5HH=AS<B54879
&$?$&9%BER%3'=$%'*%#62.*%3:'*%#.3%F$$* $I'3/% '*% /#$% -$&./'?$% 0'3/-'F6/')*% )(% '*/$-1
Z['C5J57'O877JQ'<6O7>I<6?'5'J<6?78'H>454<L8'J48B'O877
36++$3/$0%F$%.,,-)I'2./$&<%Q%228GV ()&&'46&.-%$,'0$-2.&%3/$2%4$&&38%
W%&''()XQ' <4J' <BB8I<548' 4=56J<4@5BH7<K9<6?' O877' H=A?@
869' W*'+&XQ' 56I' 85=79@I<KK8=864<54<6?' O877J' W,+-,'&X;
%8754<L8',AO54<A6'AK'&H<I8=B57'#48B' +J9BB84=<O'L8=J>J'#9BB84=<O' *A=8' I<KK8=864<548I' R8=54<6AO948J' W.-&&/X' 56I' 4N86
1877J'<6'4N8'%848'%<I?8J' !<L<J<A6'AK'4N8'&H<I8=B57'#48B'1877J B54>=8'86>O78548I'J\>5B8J'7<8'I<=8O479'5CAL8'4N8BQ
<6' 56' A=I8=8I' J45OR' =<J<6?' 5CAL8' 4N8' C5J57' 7598=;
Y#$/#$-% $,'0$-2.&% 3/$2% 4$&&3% .-$% 6*'1 "#$%&)+'3/'43%)(%$,'0$-2.&%4$&&%0'?'3')*%.-$
&)MJ'=8H=8J864'K>6O4<A65779'<6I8H86I864'H5OR84J'AK
()-2&<% 0'3,$-3$0% @.3% 3'*+&$% 4$&&3% ./% /#$ 3/'&&% *)/% 4&$.-&<% 6*0$-3/))08% Y'/#'*% /#$
F)//)2%)(%BER9%)-%.3%4&63/$-3Z%3$$%D./$-.& 34#$2$%)(%]3/$2%4$&&% %"H%4$&&% %/$-2'1 J87K@=868P<6?' <648=KA77<O>75='8H<I8=B<J'4N54'5=8'>74<@
S'+-./')*C9%)-%4)*4$*/-./$0%'*%4$-/.'*%.-1 *.&&<%0'(($-$*/'./$0%4$&&9^%$,'0$-2.&%,-)&'(1 B54879'I8H86I864'A6'5'J<6?78'H>454<L8'J48B'O877'KA=
$.3% )(% /#$% 3:'*% '3% 4)*/-)?$-3'.&8% L*'/'.& $-./')*% '3% '*'/'./$0% F<% /#$% 0'?'3')*% )(% . 7<K87A6?'O877'H=AI>O4<A6;'1A6J4564'J87K@=868P57'P<4N<6
3/60'$3% )(% 2)*:$<% ,.&2% $,'0$-2'3% F< 3/$2% 4$&&% .*0% /#$*% $I,.*0$0% F<% 36F3$1 4N8'C5J57'7598='AK'JR<6'OABH86J548J'KA='4N8'OA64<6@
D.?:$-%.*0%[6*%'*%GTXQ%36++$3/%.*%$*-'4#1 56$*/% 0'?'3')*3% )(% "H% 4$&&38% "#$% '*'/'.& >57'7AJJ'AK'I<KK8=864<548I'J\>5B8J'K=AB'<4J'J>=K5O8;
2$*/%)(%,6/./'?$%3/$2%4$&&3%./%/#$%F.3$%)( 3/$2% 4$&&% 0'?'3')*% 2.<% F$% .3<22$/-'49 W%8H=<648I]5I5H48I'K=AB'/5>=' )D' "648=KA77<O>75=' 8H<@
-$/$% -'0+$39GN% 7#$-$.3% &./$-% $I.2'*./')* <'$&0'*+% )*$% 3/$2% 4$&&% .*0% )*$% "H% 4$&& I8=B57'J48B'O877JD'"I864<TO54<A6Q'ON57786?8JQ'HA486@
)(% /#$% $I,-$33')*% )(% G1'*/$+-'*% @.% ,6/.1 /#./%'3%0$3/'*$0%/)%$I'/%(-)2%/#$%3/$2%4$&& 4<57;'012/3&$415&-674(''>=6DZ3^_Q'_[[`;X
/'?$%3/$2%4$&&%2.-:$-Z%3$$%S.-:$-3%()-%/#$ *'4#$9%)-%3<22$/-'49%<'$&0'*+%/7)%'0$*/'1
L*/$-()&&'46&.-%B,'0$-2.&%[/$2%.*0%"-.*3'/ 4.&%3/$2%4$&&%)-%"H%4$&&%,-)+$*<8%L*?.-'.*/9 0'3,&.4$0% (-)2% /#$% *'4#$% .*0% 0'(($-$*/'1
H2,&'(<'*+%A$&&3C%'*%#62.*%()-$3:'*%.*0 .3<22$/-'4% 3/$2% 4$&&% 0'?'3')*% '3% 2)-$ ./$3%'*/)%.%2./6-$%$++8G`%[<22$/-'4%0'?'1
34.&,%&)4.&'=$0%/#$%,-$362,/'?$%3/$2%4$&&3 4)22)*%'*%6*'4$&&6&.-%)-+.*'323%.*0%'*1 3')*%'3%2)-$%4)22)*%'*%2.22.&39%7'/#
/)% /#$%/),3%)(%0$-2.&%,.,'&&.$8X% H%-$4$*/ ?$-/$F-./$38% H% 3/-64/6-$0% /#-$$10'2$*1 $I/-'*3'4% 3/'26&'% -$+6&./'*+% /#$% ;*.&% 3'=$
3/60<%63'*+%-$/-)?'-.&%/-.*3064/')*%)(%\61 3')*.&%*'4#$%@.%3)14.&&$0%-"!%(0%1!"#$%GWC%'3 )(%3/$2%.*0%4)22'//$0%,-)+$*'/)-%,),61
)-$34$*/%2.-:$-%,-)/$'*%'*/)%#62.*%()-$1 /<,'4.&&<%-$56'-$0%/)%,.-/'/')*%/#$%/7)%0'(1 &./')*38G!% a$4$*/% -$3$.-4#% 36++$3/3% /#./
3:'*% I$*)+-.(/3% +-)7*% )*% /#$% F.4:3% )( ($-$*/% )((3,-'*+8% M)-% $I.2,&$9% '*% /#$ .3<22$/-'4% 0'?'3')*% 2.<% .&3)% )446-% '*
./#<2'4%2'4$%()6*0%$,'0$-2.&%3/$2%4$&&3 _-)3),#'&.%)?.-<9%/#$%0.6+#/$-%3/$2%4$&& /#$%F.3.&%4$&&%&.<$-%)(%$,'0$-2'38GX%O*$%'*1
&)4./$0%./%.&&%&$?$&3%/#-)6+#)6/%/#$%6*061 -$2.'*3% .33)4'./$0% 7'/#% 3)2./'4% @]4.,^C /$-$3/'*+% '2,&'4./')*% '3% /#./9% 06-'*+% $.4#
&./'*+%F.3.&%&.<$-8GU%L/%'3%/#$-$()-$%,)33'F&$ 4$&&3% )(% /#$% F.3.&% /$-2'*.&% ;&.2$*/9 -)6*0% )(% .3<22$/-'4% 3/$2% 4$&&% 0'?'3')*9
!"6 /#./9% '*% #62.*% 3:'*9% -$+')*.&% 0'(($-$*4$3 7#$-$.3% /#$% 4)22'//$0% 0.6+#/$-% 4$&&% '3 3$&$4/'?$%3$+-$+./')*%)(%/#$%)-'+'*.&%_PH
'*/)% /#$% 0.6+#/$-% 4$&&% /#./% '3% 0$3/'*$0% /) ,.-/2$*/8%"#$%2$4#.*'323%/#./%'*'/'./$ ,-)I'2./$&<% GU% ,$-4$*/% )(% /#$% F.3.&% 4$&&
-$2.'*%.%3/$2%4$&&%2.<%,-)?'0$%.%2$4#.1 /#$% ,-)4$33$3% )(% 0'(($-$*/'./')*% .*0 &.<$-9N% 7#$-$.3% 2)-$% -$4$*/% &.F$&1
*'32% /)% ,-)/$4/% /#$% 3/$2% 4$&&% +$*)2$ 3/-./';4./')*% .-$% 6*4&$.-8% [/-./';4./')*9 -$/.'*'*+GG%.*0%/-.*3+$*'4%2)63$!%3/60'$3
(-)2%.44626&./'*+%26/./')*3%.*0%36F3$1 7#'4#% F$+'*3% 7'/#% $I'/% (-)2% /#$% F.3.& 36++$3/%.%G%,$-4$*/%,-$3$*4$8 %O(%'*1
56$*/%4.*4$-%()-2./')*8GT%L/%#.3%/#$-$()-$ &.<$-9% 2.<% F$% '*'/'./$0% F<% /#$% )*3$/% )( /$-$3/% '3% .% -$4$*/% 3/60<% /#./% ,$-()-2$0
F$$*%36++$3/$0%/#./%$,'0$-2.&%3/$2%4$&&3 0'(($-$*/'./')*QW% .*0% .33'3/$0% F<% .4/'* 3'*+&$%4$&&%+$*$%$I,-$33')*%,-);&'*+%)(%'*1
#.?$% /#$% .F'&'/<% /)% 0'?'0$% '*% F)/#% .* 0<*.2'43%7'/#'*%/#$%4</)3:$&$/.&%.-4#'1 /$-()&&'46&.-%3/$2%.*0%"H%4$&&38V`%M)6-/$$*
.3<22$/-'4%.*0%3<22$/-'4%(.3#')*8%_6-1 /$4/6-$% )(% /#$% )?$-&<'*+% 36,-.F.3.&% &.<1 ,6/./'?$% 3/$2% 4$&&% 2.-:$-3% 7$-$% 0'34)?1
'*+% 0$?$&),2$*/9% 7#$*% .*% '*4-$.3$0 $-38Q`% L/% .,,$.-3% (-)2% 7#)&$12)6*/% &.1 $-$09%'*4&60'*+%.*%$,'0$-2.&%+-)7/#%(.41
*62F$-% )(% 3/$2% 4$&&3% .-$% -$56'-$0b.*0 F$&'*+% $I,$-'2$*/3% /#./% /#$% ,-)4$33% )( /)-%-$4$,/)-%.*/.+)*'3/%*.2$0%:'"0;8%
,$-#.,3% 06-'*+% 7)6*0% #$.&'*+% '*% .06&/ 0'(($-$*/'./')*9% .3% $?'0$*4$0% F<% eGU
&'($%.3%7$&&b$,'0$-2.&%3/$2%4$&&3%()&&)7 :$-./'*% $I,-$33')*9% F$+'*3% 7'/#'*% /#$
.%3<22$/-'4%,-)+-.2%)(%0'?'3')*%/#./%$I1 "H% 4)2,.-/2$*/8QN% a$4$*/&<9% '/% #.3
%8?>754A=9'*8I<54A=J
,.*03%/#$'-%,),6&./')*8GV%_6-'*+%/'2$3%)( F$$*%36++$3/$0%/#./%)-'$*/$09%.3<22$/1 H3%7'/#%3/$2%4$&&%2.-:$-39%/#$%3/60<%)(
#)2$)3/.3'3% '*% 2./6-$% $,'0$-2'39%.3<21 -'4% 0'?'3')*% 7'/#'*% /#$% F.3.&% 4$&&% &.<$- -$+6&./)-<% 2$0'./)-3% )(% '*/$-()&&'46&.-
2$/-'4% 0'?'3')*% 2.<% ,-$0)2'*./$8GX% "H '*'/'./$3%F)/#%3/-./';4./')*%.*0%0'(($-$*1 $,'0$-2.&% #)2$)3/.3'3% '3% /#$% ()463% )(
4$&&3%.-$%+$*$-.&&<%/#)6+#/%/)%0'?'0$%3<21 /'./')*%'*%2.22.&'.*%$,'0$-2'38GX )*+)'*+% -$3$.-4#% $(()-/38V!% H&/#)6+#
2$/-'4.&&<9%,-)064'*+%$'/#$-%/7)%0.6+#/$- (-$56$*/&<% 4)2,&$I% .*0% )?$-&.,,'*+9
"H%4$&&3%)-%/7)%,)3/2'/)/'4%4$&&39%F6/%/#$< -$+6&./)-<%2$0'./)-3%2.<%F$%3)2$7#./
2.<% #.?$% /#$% .F'&'/<% /)% .&/$-% /#$'-% 0'?'1 %8754<A6JN<H'C84P886'#48B'1877J' .-/';4'.&&<%0'?'0$0%'*/)%()6-%F-).0%4./$1
3')*.&%,-)+-.23%.3%7$&&8QU%H%4)2,&$I%-$+1 <6'E5=<A>J'1ABH5=4B864J' +)-'$38% M'-3/% .-$% /#$% 3/'26&'% /#./% 0'-$4/
6&./)-<% 3<3/$2% 4)6&0% 63$% /#$3$% /7) <6'#R<6'&H<4N87<5 ,-)+$*'/)-% 4$&&3% /)7.-03% 3,$4';4% /$-2'1
2)0$3%)(%0'?'3')*9%(-$56$*4<%)(%3/$2%4$&& *.&%0'(($-$*/'./')*%,./#7.<3%@$8+89%()&&'41
0'?'3')*9% /)/.&% *62F$-% )(% "H% 4$&&% 0'?'1 M)&&'46&.-%3/$2%4$&&3%.-$%&)4./$0%'*%/#$%-$1 6&.-% ?38% '*/$-()&&'46&.-% ?38% 3$F.4$)63
3')*39%.*0%06-./')*%)(%F)/#%3/$2%.*0%"H +')*% )(% /#$% F6&+$% @3$$% A#.,8% XNCQ!% .*0 3/-64/6-$3Z% 3/-./';$0% 356.2)63% ?38% 3'21
4$&&%4<4&$%/'2$3% /)% 2.'*/.'*%/#$% '*/$+-'/< 7$-$%'*'/'.&&<%#<,)/#$3'=$0%/)%3$-?$%.3%.* ,&$% 4)&62*.-% $,'/#$&'62C8% [$4)*0% .-$
)(% $,'0$-2'3% .*0% )/#$-% 3/-./';$0% 356.1 ]6&/'2./$% -$3$-?)'-^% )(% 3/$2% 4$&&3% ()-% /#$ /#$% 2'4-)$*?'-)*2$*/.&% ($./6-$3% )(% /#$
2)63% $,'/#$&'.% '*% /#$% (.4$% )(% ?.-')63 '*/$-()&&'46&.-%$,'0$-2'38QX%f)7$?$-9%'/%'3 *'4#$% /#./% 2.'*/.'*% 3/$2% 4$&&% ,-$3$*4$8
,#<3')&)+'4% -$56'-$2$*/3QG% @3$$% $M'+8% NN1 *)7% 4&$.-% /#./% /#$% '*/$-()&&'46&.-% $,'0$-1 "#'-0%.-$%2$0'./)-3%/#./%.&/$-%,-)&'($-.1
Q8G%'*%)*1&'*$%$0'/')*C8 2'3% .*0% #.'-% ()&&'4&$% F6&+$% 4)*/.'*% 3$,.1 /')*9% )(/$*% /#-)6+#% ()4.&% .*0% 0'(($-'*+
-./$% .*0% 0'3/'*4/% 3/$2% 4$&&% ,),6&./')*39 $(($4/3%)*%/#$%3/$2%.*0%"H%4$&&%,),6&.1
$.4#% -$3,)*3'F&$% ()-% /#$% 2.'*/$*.*4$% )( /')*38% M)6-/#% .-$% -$+6&./)-3% /#./% 3/'261
,548=57'*<?=54<A6 /#$'-% /$-2'*.&&<% 0'(($-$*/'./$0% :$-./'*)1 &./$%)-%'*#'F'/%.%4)22'/2$*/%/)%/$-2'*.&
4</$%,),6&./')*38%c6&+$%3/$2%4$&&3%0)%*)/ 0'(($-$*/'./')*8
H&/#)6+#% /#$% $,'0$-2'3% '3% /-.0'/')*.&&<
.,,$.-%/)%4)*/-'F6/$%/)%/#$%'*/$-()&&'46&.- [$?$-.&% ,./#7.<3% .,,$.-% /)% F$% '*1
/#)6+#/%)(%.3%4)*3'3/'*+%)(%?$-/'4.&&<%)-'1
$,'0$-2'3% 06-'*+% ,$-')03% )(% #)2$)3/.1 ?)&?$0% '*% 3/$2% 4$&&% #)2$)3/.3'3% .*0
$*/$09% 3$&(14)*/.'*$0% 4)&62*3% )-% 6*'/3
3'38!9QT9VU%E-)+$*'/)-%4$&&3%2'+-./$%(-)2%/#$ (6*4/')*8% ,`V% #.3% F$$*% 36++$3/$0% /)% F$
)(% -$,&'4./')*9W9GU% 3)2$% 3/60'$3% 36++$3/
()&&'46&.-% F6&+$% /)% 3'/$3% )(% '*/$-()&&'46&.- '*?)&?$0%'*%$,'0$-2.&%3/$2%4$&&%2.'*/$1
/#./%&./$-.&%2)?$2$*/%F$/7$$*%.*0%F$1
$,'0$-2.&% 7)6*0'*+9% F6/% /#$% 2'+-./')* *.*4$9N!%.&/#)6+#%/#$%0$/.'&3%.-$%*)/%<$/
<)*0%/#$3$%'*0'?'06.&%4)&62*3%2.<%)41
.,,$.-3% /)% '*?)&?$% "H% 4$&&39!% .*0% /#$'- 4&$.-8
46-8% L*% 36*1$I,)3$0% 3:'*9% c-.3#% .*0
,-$3$*4$%'*%/#$%*$7%$,'0$-2'3%.,,$.-3%/)
4)&&$.+6$3QQ% #.?$% '0$*/';$0% 4&)*.&
F$%/$2,)-.-<%.*0%3#)-/1&'?$08%L/%#.3%.&3)
,./4#$3% )(% :$-./'*)4</$39% $.4#% 4)*/.'*1
'*+%.%3'*+&$%,WV%26/./')*9%/#./%.-$%2.*<
-$4$*/&<%F$$*%3#)7*%/#./%F)*$%2.--)7J !<J85J8J'%87548I'4A'
0$-'?$0% 3/$2% 4$&&3% 0)% *)/% (6*4/')*% .0$1 )=A7<K8=54<L8'!9JK>6O4<A6
4$&&3% '*% 3'=$8 % _6-'*+% 7)6*0% #$.&1
56./$&<%.3%.%3)6-4$%)(%'*/$-()&&'46&.-%:$-./1
'*+9% .*% )-+.*'=$0% &./$-.&% 2'+-./')*% )( H% *62F$-% )(% 3:'*% 0'3$.3$3% .,,$.-% /)% F$
'*)4</$3%06-'*+%3/$.0<13/./$%#)2$)3/.3'3
,-)&'($-./'*+% 4$&&3% )446-39% /#./% '3% /#$* -$&./$0% /)% 3/$2% )-% "H% 4$&&% 0<3(6*4/')*8
)-%.(/$-%7)6*0'*+8VG
()&&)7$09%)*4$%#$.&'*+%'3%4)2,&$/$09%F< O*$%$I.2,&$%)(%.*%$,'0$-2.&%3/$2%4$&&J
-$4)*3/'/6/')*% )(% *$7% $,'0$-2.&% 4)&1 -$&./$0% 0'3$.3$% '3% 3:'*% 4.*4$-8WT% H% 3/$2
62*3% .*0% -$1$3/.F&'3#2$*/% )(% .% ,-)1 *5=R8=J'KA='4N8'"648=KA77<O>75=' 4$&&%2)0$&%)(%4.*4$-%?'$73%/62)-%+-)7/#
+-.2%)(%?$-/'4.&%0'(($-$*/'./')*8
&H<I8=B57'#48B'56I' .3% .*% .F$--.*/% ?$-3')*% )(% *)-2.&% /'336$
#)2$)3/.3'38`U%H&/#)6+#%/#$%$*0%,-)064/
.=56J<4'+BH7<K9<6?'1877J'
#4=54<TO54<A6 '3%*)/%.%*)-2.&&<%0'(($-$*/'./$0%4$&&9%)71
R*()-/6*./$&<9%-$&'.F&$%2.-:$-3%()-%'*/$-1 '*+% /)% /#$% 26&/',&$% +$*$/'4% 26/./')*3
R*0$-% *)-2.&% #)2$)3/./'4% 4)*0'/')*39 ()&&'46&.-%3/$2%.*0%"H%4$&&3%0)%*)/%<$/%$I1 ,-$3$*/9%/#$%,-)4$33%)(%4.*4$-)63%+-)7/#
/#$% ,-)4$33% )(% 0'(($-$*/'./')*% F$+'*3% ./ '3/8% a$4$*/% 7)-:% #.3% '0$*/';$0% 2.*< .,,$.-3%'*%2.*<%'*3/.*4$3%/)%-$4.,'/6&./$
/#$% /'2$% )(% $I'/% (-)2% /#$% F.3.&% &.<$-8 4.*0'0./$% 2.-:$-3% ()-% ()&&'46&.-% F6&+$ /#$%]3/$2%4$&&% %"H%4$&&% %0'(($-$*/'./$0
H,,-)I'2./$&<% X% ,$-4$*/% )(% F.3.&% 4$&&3 3/$2%4$&&3%@3$$%A#.,8%XNCVQ9VV%F6/%/#$'-%.,1 4$&&^% ,-)4$33')*% /#./% )446-3% 06-'*+% *)-1
.-$% ,)3'/'?$% ()-% 2.-:$-3% )(% 0'(($-$*/'.1 ,&'4.F'&'/<% /)% '*/$-()&&'46&.-% $,'0$-2.& 2.&%/'336$%#)2$)3/.3'38%H3%'*%*)-2.&%/'31
/')*%@364#%.3%:$-./'*3%GdGUC9QN%.*0%/#$3$ 3/$2% 4$&&3% -$2.'*3% 6*:*)7*8% "#'3% '3% .* 36$39% )*&<% .% 32.&&% ,$-4$*/.+$% )(% /#$% /61
4$&&3% .-$% 636.&&<% 4)**$4/$0% /)% /#$% F.3$1 .-$.% )(% '*/$*3$9% )*+)'*+% -$3$.-4#8% B?$* 2)-%,),6&./')*%@/#$%]4.*4$-%3/$2%4$&&3^C
2$*/%2$2F-.*$%F<%.%/#'*%3/.&:%.*0%.-$ /#$%,-$4'3$%*62F$-%)(%3/$2%4$&&3%,-$3$*/ 2.'*/.'*%/#$%4.,.4'/<%()-%&)*+1/$-2%,-)1
263#-))213#.,$0%'*%4-)3313$4/')*GQ%'*1 '*% /#$% '*/$-()&&'46&.-% $,'0$-2'3% -$2.'*3 &'($-./')*8`U% A.*4$-% 3/$2% 4$&&3% .-'3$
0'4./'*+%/#$<%.-$%'*%/#$%,-)4$33%)(%$I'/1 6*4$-/.'*Z%)-'+'*.&%:'*$/'4%3/60'$3%'*%2'4$ 3&)7&<%(-)2%*)-2.&%3/$2%4$&&3%)?$-%/'2$9
'*+%?$-/'4.&&<%(-)2%/#$%F.3.&%&.<$-%4)21 '*0'4./$0% /#./% 3/$2% 4$&&3% -$,-$3$*/% .,1 F$4.63$%/#$<%.-$%/#$%)*&<% 4$&&3% /#./%,$-1 !""
!"#$%&''()
!"#$%&'()$*+%,&$%-&./(+)&0+,*)+1"*+2%
.345&6&'578.69: .345&66&'578.69:
;<0&98=5 95>&98=5 =869&:6.5?:@&;A&5B475::6;9 ;<0&98=5 95>&98=5 =869&:6.5?:@&;A&5B475::6;9
/a /a &H<I8=B<J'WJ>H=5C5J57X /Z /Z &H<I8=B<J'WJ>H=5C5J57X
/Z[ /Z[ &H<I8=B<J'WJ>H=5C5J57X /_8 /_ &H<I8=B<J'WJ>H=5C5J57X
/Z_ /Z_ 1A=685 /b /b 1A=685'WJ>H=5C5J57X
/Zb /Zb $=57'B>OAJ5 /3 /3 $=57'B>OAJ5'WJ>H=5C5J57X
/Z3 /Z3 1ABH78S'8H<4N87<5 /^ /^ 1ABH78S'8H<4N87<5'WC5J57'7598=X
/Z^ /Z^ 1ABH78S'8H<4N87<5 /`5 /`5 &H<4N87<57'5HH86I5?8J
/Z` /Z` &H<4N87<57'5HH86I5?8J /`C /`C &H<4N87<57'5HH86I5?8J
/Zc /Zc &H<4N87<57'5HH86I5?8J /`8]N /`O #R<6'W688IJ'OA6T=B54<A6X
/Zd /Zd #<BH78'8H<4N87<5 /c /c #<BH78'8H<4N87<5
/Za /Za e=A5I'I<J4=<C>4<A6 /d /d #<BH78'8H<4N87<5
/_[ /_[ G>4'8H<4N87<>B
/_b /_b )56O=85J'W688IJ'OA6T=B54<A6X
/_3 /_3 M6R6AP6
/_^<=J@3 /_^@/_d "668='=AA4'JN854N'WN5<='KA77<O78JX /`<=JZ@3 /cZ@/c3 "668='=AA4'JN854N'WN5<='KA77<O78JX
/`NK /c^ 1ABH56<A6'7598='WN5<='KA77<O78JX
/_H /c` $=57'B>OAJ5
/ZC /cc #P854'?756I'I>O4J
/^C /cd .A6?>8
/`7 /ca #R<6
/C_[ /d[ .A6?>8
25Z@25d /bZ@/bd 25<='JN5K4'WN5<='KA77<O78X 2CZ@2C` /dZ@/d` 25<='JN5K4'WN5<='KA77<O78JX
/ba /ba 25<='JN5K4'WN5<='KA77<O78X
/3[ /3[ 25<='JN5K4'WN5<='KA77<O78X
-A48D'+'=8L<J8I'R8=54<6'6AB86O754>=8'N5J'C886'H>C7<JN8I;'#88'=8K;'`^;
E#
E>; E>! E!"<H
E>"
E># E;
E>! E>
E>$
E=% E=(
E=#
IB> E!
E=# E"=
E=!
E>I
E!!
E>= E!!"
E!>
E!!F %
E$ 123'4(&")*3*5*3#(,/7,>8,>
E=! E!# E!;
E!= 9#4(888;<0E@-E:J"(:5#2+*(:5#2+*(E:J#>
C E!# E!"
E:J#!-E:J#!(:5#2+*(E:J##-E:J#;-E:J#=
123'4(&")*3*5*3#(,67/,8/ :5#2+*(E:J"#-E:J!C-E:J!%-E:J!A-E:J#
9#4(888:5#2+*(;<0/=(:5#2+*(E:J=#-E:J=! E:J">-E:J";-E:J"=-E:J"!(:5#2+*(E:J=
E:J="-E:J=#-E:J>I-E:J>=-E:J=I(E:J=! E:J>-;<066(:5#2+*(:5#2+*:5#2+*(;<06F
;<0>?(;<0=@(A5#B#)'$(;-C(D#4#5A(E:J!!A E:J!-E:J;(;<06?(;<06E(E:J#(888(E:J>#K
E:J!;-E:J!>(:5#2+*(E:J!"-E:J!#(:5#2+* 8880#$
E:J!=-E:J!#-E:J!!(E:J>!-E:J>#-E:J>$
E:J$-E:J>;-E:J>!-E:J>"(:5#2+*888(0#$ 4
!"#$%&'$()*+
,- ,. /- /. 0'%$
1#'+
78.9:$-;;<! .N8'N>B56'R8=54<6'?868'K5B<79;'AB'1ABH5=<JA6'AK'4N8'H=<B5=9'J4=>O4>=8'AK'N>B56'R8=54<6J'>J<6?'4N8'H>C7<O79'5L5<75C78'17>J457F'56I'.=88E<8P
JAK4P5=8;'#8\>86O8'=87548I68JJ'<J'<6L8=J879'OA==87548I'P<4N'4N8'786?4N'AK'4N8'7<68J'OA668O4<6?'4N8'L5=<A>J'J8\>86O8JQ'56I'4A'4N8'6>BC8='56I'HAJ<4<A6'AK'C=56ON
HA<64J;'.N<J'OABH5=<JA6'B5R8J'>J8'AK'4N8'J8\>86O8J'K=AB'4N8'N85I'56I'O864=57'=AI'IAB5<6'KA='85ON'R8=54<6;'+'K8P'R8=54<6J'P8=8'78K4'A>4'KA='O75=<49'H>=HAJ8J;'.PA
B5UA='C=56ON8J'5=8'J886'<6'4N<J'4=88'I<JH759Q'OA==8JHA6I<6?'4A'49H8'"'56I'49H8'""'J8\>86O8J;'e89A6I'4N<J'I<ONA4AB9Q'85ON'J>C49H8'<J'K>=4N8='J8?=8?548I'<64A'B5UA=
J>C?=A>H<6?J'WI86A48I'C9'I<KK8=864'OA7A=JX;'CB'$=?56<V54<A6'AK'K>6O4<A657'49H8'"'R8=54<6'?868JQ'577'AK'PN<ON'5=8'O7>J48=8I'A6'N>B56'ON=ABAJAB8'ZcQ'P<4N'4N8'A679'8S@
O8H4<A6'C8<6?'/Zd'WJ88'7$4&-9$:'<6'DXQ'PN<ON'<J'7AO548I'54'4N8'487AB8=<O'W.87X'CA>6I5=9'AK'4N8'49H8'""'?868'O7>J48=;'+'75=?8'6>BC8='AK'?868J'86OAI<6?'R8=54<6@5JJAO<@
548I'H=A48<6J'W/+)JX'<648==>H4J'4N8'49H8'"'?868'O7>J48=Q'C84P886'/%.3['56I'/%.bb+;'DB'$=?56<V54<A6'AK'K>6O4<A657'49H8'""'R8=54<6'?868JQ'PN<ON'5=8'O7>J48=8I'A6'N>@
B56'ON=ABAJAB8'Z_;'.N8'/d'56I'/Zd'?868J'5=8'J8H5=548I'C9'3^[Q[[['C5J8'H5<=J;'4B-#ON8B54<O'=8H=8J86454<A6'AK'4N8'4=<H5=4<48'IAB5<6'J4=>O4>=8'JN5=8I'C9'577
R8=54<6'56I'A4N8='<648=B8I<548'T75B864'H=A48<6J;'+'O864=57' @N87<O57'f=AIg'IAB5<6'5O4J'5J'4N8'B5UA='I848=B<6564'AK'J87K@5JJ8BC79;'.N<J'=AI'IAB5<6'<J'H5=4<4<A68I'<64A
J>CIAB5<6J'Z+Q'ZeQ'_+Q'56I'_eQ'56I'h56R8I'C9'6A6@N87<O57'fN85Ig'56I'f45<7g'IAB5<6J'54'4N8'-@'56I'1@48=B<6<Q'=8JH8O4<L879;'eA4N'86IJ'AK'4N8'=AI'IAB5<6'OA645<6'Z^
4A'_['5B<6A@5O<I'=8?<A6J'W-&; X'4N54'5=8'N<?N79'OA6J8=L8I'5BA6?'577'<648=B8I<548'T75B864'H=A48<6J;'186'i'O864=AB8=8Y'HJ8>IA'i'HJ8>IA?868'W6A6@K>6O4<A657X;
W+I5H48I'K=AB'1A>7ABC8')+Q'e8=6A4'/D'/8=54<6J'56I'4N8'JR<6Q'<6'!/8%8'(,&;971(<1=9('(.987'1>?&69$4-%Q'EA7;'_Q'&7J8L<8='"6O;Q'_[[3Q'P<4N'H8=B<JJ<A6;X
-A48D'+'=8L<8P'5=4<O78'C9'&OR8=4'%,'84'57D'.=56J?7>45B<65J8'K>6O4<A6'<6'8H<I8=B<J;'012/3&$415&-674('1>=;D3dZQ'_[[^Q'J8=L8I'5J'5'I<=8O4'<6JH<=54<A6'KA='4N<J'45C78;
/.'*% 7./$-8% c.3'4% '*()-2./')*% .F)6/ 4633$0% /#$% 4#.*+$3% )(% :$-./'*3% 06-'*+ *)-2.&% .*0% 0'3$.3$0% $,'0$-2'38% "#$3$
)/#$-%AB%4)2,)*$*/3%'3%,-)?'0$0%'*%".1 $,'0$-2.&% 0'(($-$*/'./')*8% L/% '3% 7$&&% .,1 (6/6-$%3/60'$3%3#)6&0%&$.0%/)%*$7%2)0.&1
F&$%NN1Q8GG!9GGX%"#$%,-)/$'*%4)2,)3'/')* ,-$4'./$0% /#./%3,$4';4%/<,$%L%.*0%/<,$%LL '/'$39% '*4&60'*+% 4$&&% .*0% +$*$% /#$-.,'$39
.*0% ;*$% 3/-64/6-$% )(% /#$% $,'0$-2.&% AB :$-./'*3%.-$%4)1$I,-$33$0%.3%,.'-3%.33)4'1 ()-%.%F$//$-%/-$./2$*/%)(%3)2$%)(%/#$%0$?1
0'(($-3% /)% .% 0$+-$$% (-)2% /#)3$% )(% /#$ ./$0% 7'/#% ?.-')63% 3/.+$3% )(% *)-2.&% .*0 .3/./'*+%3:'*%0'3$.3$38%
)/#$-% 3/-./';$0% 356.2)63% $,'/#$&'.Z% /#$ ,./#)&)+'4%$,'0$-2.&%0'(($-$*/'./')*9%.*0
6*0$-&<'*+% 3'+*';4.*4$% )(% /#'3% AB% #$/1 /#./% 26/./')*3% )(% 2.>)-% $,'0$-2.&% :$-1
$-)+$*$'/<% '3% 6*4&$.-8GG!9GGX% "#$% '2,)-1 ./'*3%4.63$%?.-')63%()-23%)(%3:'*%F&'3/$-1 /&l'%&(&%&-1&#
/.*/% 4)*/-'F6/')*% )(% /#$% AB% /)7.-03 '*+%0'3$.3$3Z%#)7$?$-9%/#$%(6*4/')*.&%'21 .N8'K>77'=8K8=86O8'7<J4'KA='577'ON5H48=J'
,-),$-% F.--'$-% (6*4/')*% '*% $,'0$-2'3% '3 ,&'4./')*3%)(%/#$3$%0'(($-$*/%:$-./'*39%*)/
-$\$4/$0% '*%/#$% 4&'*'4.&% 3<2,/)23% .33)1 )*&<%'*%/$-23%)(%3/-64/6-.&%-)&$39%F6/%.&3)
<J'5L5<75C78'54'PPP;I<?Bc;OAB;
4'./$0%7'/#%26/./')*3%.&/$-'*+%/#$'-%,-'1 '*% /$-23% )(% /#$'-% *)?$&% '*?)&?$2$*/3% '* G8 c&.*,.'*% A9% M64#3% Bh% B,'0$-2.&% 3/$2
2.-<%4)*3/'/6$*/3% '*%/#$% 4)*/$I/% )(%#61 3'+*.&% /-.*3064/')*% .*0% )-+.*$&&$% /-.*31 4$&&3%)(%/#$%3:'*8%4!!91>%81?%--1@%81A"7-
2.*%0'3$.3$3%@3$$%".F&$%NN1QC8GG` ,)-/9%'3%>63/%F$+'**'*+%/)%F$%6*0$-3/))08 ""hVVT9%QUU`
Q8 e.6-% Eh% L*/$-()&&'46&.-% $,'0$-2.&% 3/$2
H00'/')*.&% 3/60'$3% .-$% *$$0$0% /)% F$//$- 4$&&3h% L0$*/';4./')*9% 4#.&&$*+$39% ,)/$*1
6*0$-3/.*0%/#$%-)&$3%)(%3/$2%.*0%"H%4$&&3 /'.&8 B1C!8%)&1@%'+(&7- #"$hGNWU9%QUU`
1$-1,M!"-G'%&*+%/# '*%$,'0$-2.&%,-)&'($-./')*%.*0%#)2$)3/.1 V`8 j$*3$*%ec9%Y.//%MSh%['*+&$14$&&%$I,-$31
L*% /#'3% 4#.,/$-9% 7$% #.?$% 0'34633$0% /#$ 3'3Z% #)7% /#$% *'4#$% 2'4-)$*?'-)*2$*/ 3')*% ,-);&'*+% )(% #62.*% $,'0$-2.&
3/$2%.*0%/-.*3'/1.2,&'(<'*+%4$&&3h%D-'+G
4)*4$,/% )(% 3/$2% 4$&&39% 7#'4#% ,&.<% :$< 2.'*/.'*3% $,'0$-2.&% 3/$2% 4$&&3Z% /#$% 0$1
'3% .% -$+6&./)-% )(% 3/$2% 4$&&% 56'$34$*4$8
-)&$3% '*%/#$%$,'0$-2'39% #.'-%()&&'4&$39%.*0 /.'&$0% -$&./')*3#',% F$/7$$*% $,'0$-2.& D'7#1 E(&-1 4#(61 F#"1 G1 F1 41 #%&hGGTWX9
.&&%)/#$-%3$&(1-$*$7'*+%/'336$38%H&/#)6+# .*0% #.'-% ()&&'46&.-% $,'/#$&'.&% 3/$2% 4$&&3 QUU`
()&&'46&.-% $,'/#$&'.&% 3/$2% 4$&&3% 4.*% +'?$ .*0% /#$'-% -$&./'?$% 4)*/-'F6/')*3% /)% 3:'* V!8 _.'%k9%[$+-$%jHh%"-.*34-',/')*.&%4)*/-)&
-'3$%/)%"H%4$&&3%/#./%,.-/'4',./$%'*%$,'0$-1 0'3$.3$3% 364#% .3% ,3)-'.3'3% .*0% 3:'*% *$)1 )(%$,'0$-2.&%3,$4';4./')*%.*0%0'(($-$*1
/'./')*8 ?9''1 H,"!1 I%!%&1 @%8 #'hNXW9
2.&% -$,.'-9%/#$%$,'0$-2'3%3$$23% /)%#.?$ ,&.323% 364#% .3% F.3.&% .*0% 356.2)63% 4$&& QUUN
'/3% )7*% 3/$2% 4$&&% ,),6&./')*% 0'3/'*4/ 4.-4'*)2.Z% .*0% #)7% /#$% :$-./'*% ;&.1 WT8 S'&&$-%[j9%D.?:$-%aS9%[6*%""h%L*/$-,-$/1
!?= (-)2% /#./% )(% /#$% ()&&'4&$8% Y$% .&3)% 0'31 2$*/3% (6*4/')*9% ./% /#$% ./)2'4% &$?$&9% '* '*+%$,'/#$&'.&%4.*4$-%F')&)+<%'*%/#$%4)*1
/$I/%)(%3/$2%4$&&3h%"62)-%,-),$-/'$3%.*0 .*0% 0'3$.3$8% 4!!91 >%81 A"7#$%+1 $&hVNW9 XU8 A)6&)2F$% EH9% Y)*+% Eh% A</),&.32'4
/#$-.,$6/'4% '2,&'4./')*38% A"7#$"+1 A"7* GTTN '*/$-2$0'./$% ;&.2$*/3% -$?$.&$0% .3
,$/)14#&(1#()$hQW9%QUUW `X8 O2.-<% Sc9% A)6&)2F$% EH9% S4D$.* 0<*.2'4% .*0% 26&/',6-,)3$% 34.(()&038
`W8 [4#7$'=$-% j% $/% .&h% P$7% 4)*3$*363 Yfh%L*/$-2$0'./$%;&.2$*/%,-)/$'*3%.*0 E(&1?%--1A"7-1$h`TT9%QUUN
*)2$*4&./6-$% ()-% 2.22.&'.*% :$-./'*38 /#$'-% .33)4'./$0% 0'3$.3$38% E1 J!0-1 B1 K%6 GG!8 A.*0'% B9% [4#2'0/% a9% S$&'*)% gh% "#$
B1?%--1A"7- #('hG`T9%QUU` &)#hQUX!9%QUUN 4)-*';$0% $*?$&),$h% H% 2)0$&% )(% 4$&&
`!8 M64#3% B9% Y$F$-% eh% L*/$-2$0'./$% ;&.1 !G8 M64#3%Bh%e$-./'*3%.*0%/#$%3:'*8%4!!91>%8 0$./#%'*%/#$%3:'*81E(&1>%81K7-1?%--1A"7-
2$*/3h% [/-64/6-$9% 0<*.2'439% (6*4/')*9 ?%--1@%81A"7-1#**)ZGGhGQV9%GTTW `hVQX9%QUUW
12+).&%'3^ "!)"6%*79&)"6%1L(''"%'8%"#$%3:'*%.&3)%,-)?'0$3
.* 79&)"6%*"!)"6%1 L(''"%'1 /)% ,-)/$4/% .+.'*3/ #/"-'e+%%"&%
2$4#.*'4.&9% 4#$2'4.&9% .*0% 2'4-)F'.&% .31
MN&3-+O-+3-P)Q+3- 3.6&/3%(-)2%/#$%$I/$-*.&%$*?'-)*2$*/%@M'+8
NW1GC8%")%,$-()-2%/#$3$%(6*4/')*39%/#$%$,'1
'+.'+'G,+-1&
0$-2'3% 6*0$-+)$3% :$-./'*'=./')*9% .% ,-)1
/5-R)/1(H1&/3 4$33% '*% 7#'4#% $,'0$-2.&% 4$&&3% ,-)+-$31
3'?$&<% 2./6-$% (-)2% F.3.&% 4$&&3% 7'/#
&N=N5=I4')=ARJON ,-)&'($-./'?$% ,)/$*/'.&% /)% /#$% &'($&$339% \./1
:86J@*<ON587':86J86 /$*$0% 356.2$3% )(% /#$% 3/-./62% 4)-*$62
@[AC% @M'+8% NW1QC8% c)/#% /#$% [A% .*0% /#$
0$$,$-% 3:'*% &.<$-3% ,-)/$4/% /#$% 3:'*% (-)2
.N8'BAJ4'<BHA=4564'K>6O4<A6'AK'4N8'JR<6'<J'
"#$% 3:'*K3% 2)3/% '2,)-/.*/% (6*4/')*% '3% /) 6&/-.?')&$/% @RlC% -.0'./')*9% 2$4#.*'4.&
4A'KA=B'5'C5==<8='C84P886'4N8'A=?56<JB'
()-2%.*%$(($4/'?$%F.--'$-%F$/7$$*%/#$%]'*1 ()-4$39%.*0%4)&0%.*0%#)/%/$2,$-./6-$38%")
56I'4N8'86L<=A6B864;
3'0$^% .*0% /#$% ])6/3'0$^% )(% /#$% )-+.*'328 $(($4/'?$&<% ,$-()-2% /#'3% 26&/',&'4'/<% )(
D'($%)*%0-<%&.*0%-$56'-$3%/#$%,-$3$*4$%)(%. (6*4/')*39% /#$% 3:'*% 4)*/.'*3% 0'(($-$*/ .N8'JR<6'C5==<8='H=8L864J'8SO8JJ<L8'P548='
F.--'$-%/)%-$+6&./$%7./$-%&)33%.*0%,-$?$*/ /<,$3%)(%F.--'$-38%"#$%,#<3'4.&%F.--'$-%4)*1 7AJJ'W<6J<I8@A>4J<I8'C5==<8=X'56I'4N8'864=9'
0$3'44./')*9%4)22)*&<%-$($--$0%/)%.3%/#$ 3'3/3%2.'*&<%)(%/#$%[A9%F6/%/#$%*64&$./$0 AK'N5=BK>7'J>CJ456O8J'K=AB'4N8'86L<=A6@
B864'WA>4J<I8@<6J<I8'C5==<8=X;
.N8'HN9J<O57'C5==<8='<J'H=8IAB<656479'
7AO548I'<6'4N8'J4=54>B'OA=68>B;
.N8'J4=54>B'OA=68>B'C5==<8='<J'OAB@
HAJ8I'AK'OA=68AO948J'56I'<648=O877>75='7<H@
<IJQ'ONA78J48=A7Q'K=88'K5449'5O<IJQ'56I'
O8=5B<I8J;
/8=54<6J'56I'OA=6<T8I'86L87AH8'H=A48<6J'
5=8'<BHA=4564'KA='4N8'B8ON56<O57'J45C<7<49'
AK'4N8'OA=68AO948J;
.N8'OA=6<T8I'86L87AH8'H=A48<6'<6LA7>O=<6'
C<6IJ'O8=5B<I8J'OAL5786479Q'KA=B<6?'5'
C5ORCA68'KA='4N8'J>CJ8\>864'5445ONB864'
AK'K=88'O8=5B<I8J;
.N8'6>O78548I'8H<I8=B<J'4N=A>?N'4<?N4'
U>6O4<A6J'56I'I8JBAJAB8J'57JA'OA64=<C@
>48J'4A'4N8'C5==<8=;
&SH8=<B86457'C5==<8='I<J=>H4<A6'<6O=85J8J'
8H<I8=B57'7<H<IJ'56I'ON56?8J'<6'8H<I8=@
B57'I<KK8=864<54<A6;
.N8'J<?657J'KA='C5==<8='=8OAL8=9'5=8'O94A@
R<68J'56I'4N8'O57O<>B'<A6'?=5I<864;
#8L8=57'I<J85J8J'5=8'ON5=5O48=<V8I'C9'5'
H=AC5C79'?8684<O5779'I<J4>=C8I'C5==<8='
K>6O4<A6;'.N8'I<J4>=C8I'C5==<8='K>6O4<A6'
OA64=<C>48J'4A'I<J85J8'H54NA7A?9Q'<6'
H5=4<O>75='<6'OA645O4'I8=B54<4<JQ'54AH<O'
I8=B54<4<JQ'KA=BJ'AK'<ON4N9AJ<JQ'56I'
HJA=<5J<J;
,<H<I'A='7<H<I@7<R8'O=85BJ'56I'A<64B864J'
O56'=8H5<='I<J4>=C8I'C5==<8='K>6O4<A6;
78.9:$-;#<> (>6O4<A6J'AK'4N8'8H<I8=B57'f<6J<I8@A>4J<I8g'56I'fA>4J<I8@<6J<I8g'C5==<8=;'ME'i'>74=5L<A784;
!?!
78.9:$-;#<= )=A?=8J@
J<L8'B54>=54<A6'AK'4N8'8H<@
I8=B<J'K=AB'4N8'J4=54>B
C5J578'W#eXQ'L<5'4N8'J4=54>B
JH<6AJ>B'W##X'56I'J4=54>B
?=56>7AJ>B'W#GX'4A'4N8'48=@
B<657'I<KK8=864<548I'7598=Q
4N8'J4=54>B'OA=68>B'W#1X;
/89'BA78O>78J'AK'4N8'8H<@
I8=B57'J4=>O4>=8'5=8'I8=<L8I
I>=<6?'4N8'I<KK8=864<54<A6
H=AO8JJ;
7:$$-7AJJU-AD84M "#$%3:'*%4)*/.'*3%(-$$
(.//<%.4'03%.3%7$&&%.3%(.//<%.4'03%F)6*0%'*
/-'+&<4$-'0$39% ,#)3,#)&','039% +&<4)3<&4$-1
.2'0$39%.*0%4$-.2'0$38%"#$%4#.'*%&$*+/#
)(%(-$$%(.//<%.4'03%'*%/#$%$,'0$-2'3%-.*+$3
78.9:$-;#<! &78O4=A6'B<O=AJOAH9'=8L8578I'4N54'<6'4N8'J4=54>B'?=56>7AJ>B'W#GX]J4=54>B'OA=68>B'W#1X (-)2% AGQ% /)% AQN8% "#$% -./$1&'2'/'*+% $*1
<648=K5O8'4N8'75B8775='CAI<8J'W,eX'OA64864'<J'8S4=>I8I'4A'4N8'<648=K5O8'WAXQ'4N>J'KA=B<6?'OA64<6>A>J'7<H<I'C<@ =<2$3% .4$/<&1A)H% 4.-F)I<&.3$% .*0% (.//<
7598=J'W,e,X''WC'4N86'DX;'!8JBAJAB8J'5=8'C8OAB<6?'OA=68AJAB8J'<6'4N8'H=AO8JJ'AK'OA=6<TO54<A6'W4X; .4'0%3<*/#.3$%'*%/#$%$,'0$-2'3%.-$%&.-+$&<
.6/)*)2)63%@M'+38%NW1!%.*0%NW1XC8GV%[./61
,#)F'4% 2./-'I8% "#$% 4)-*';$0% $*?$&),$ =<2./'4.&&<% 4)*?$-/$0% '*/)% *)*,)&.- -./$0% .*0% 2)*)6*3./6-./$0% (.//<% .4'03
,-)/$'*3% .3% 7$&&% .3% /#$% 4)?.&$*/&<% F)6*0 ,-)064/38% f<0-)&<3'3% )(% +&<4)3,#'*+)&',1 .-$%3<*/#$3'=$0%'*%/#$%$,'0$-2'39%'*%4)*1
&','0% $*?$&),$% .-$% /#)6+#/% /)% F$% '2,)-1 '03% +$*$-./$3% 4$-.2'0$3% 7#'&$% ,#)3,#)1 /-.3/% /)% 0'1% .*0% ,)&<6*3./6-./$0% .4'038
/.*/%()-%/#$%4#$2'4.&%-$3'3/.*4$%)(%/#$%4)-1 &','03% .-$% 4)*?$-/$0% '*/)% (-$$% (.//<% .4'038 "#$%*)2$*4&./6-$%)(%/#$%(.//<%.4'03%'3%0$1
*$)4</$3%@M'+8%NW1NC8%_$32)3)2$39%7#'4# "#$3$% 4#.*+$3% '*% &','0% 4)2,)3'/')*% .*0 /$-2'*$0% (-)2% /#$% ,)3'/')*% )(% /#$% ;-3/
'*/$-4)**$4/% .0>.4$*/% :$-./'*)4</$39% .-$ 4$&&% 3/-64/6-$%-$36&/% '*% /#$% ()-2./')*% )(% . 0)6F&$% F)*0% '*% /#$% 2)&$46&$9% 3/.-/'*+
'2,)-/.*/% ()-% [A% 4)#$3')*% .*0% .-$% 3#$0 ?$-<%0$*3$%3/-64/6-$%,.4:$0%'*/)%/#$%'*/$-1 (-)2% /#$% /$-2'*.&% 2$/#<&% +-)6,8% L*% ,.-1
06-'*+% /#$% 0$356.2./')*% ,-)4$33% '*% /#$ 3/'4$3%)(%/#$%[A%@".F&$%NW1QC8! /'46&.-9% /#$% $33$*/'.&% 1`16*3./6-./$0% .41
[A8%L*%/#$%6,,$-%3,'*)63%.*0%+-.*6&.-%&.<1 '03%263/% F$% )F/.'*$0% (-)2%())0%.*0% /#$
$-39%4#.-.4/$-'3/'4%&.2$&&.-%?$3'4&$3%.,,$.-9 4'-46&./')*%)-%4.*%F$%)F/.'*$0%F<%/),'4.&
7#'4#% .-$% 4.&&$0% %,"6%'+(-1 -(+%--('1 L76"%) ,<H<I'1ABHAJ<4<A6'56I'%A78'AK' /-$./2$*/8%"#$%*)*1$33$*/'.&%2)*)6*3./1
@M'+38% NW1V% .*0%NW1WC8% "#$3$% .-$% $*-'4#$0 ,<H<IJ'<6'4N8'#4=54>B'1A=68>B 6-./$0%(.//<%.4'09%/#$%)&$'4%.4'09%'3%.*% 1T
'*% ,)&.-% &','039% +&<4)3,#'*+)&','039% (-$$ (.//<% .4'08% "#$% 2)3/% '2,)-/.*/% 0)6F&$
3/$-)&39% ,#)3,#)&','039% .*0% 4./.F)&'4% $*1 A)*()4.&%&.3$-%34.**'*+%2'4-)34),<%.*0 6*3./6-./$0%(.//<%.4'09%&'*)&$'4%.4'09%'3%.*
=<2$39% 7#'4#% 0$&'?$-% /#$% &','03% -$56'-$0 k1-.<%2'4-).*.&<3'3%3/60'$3%#.?$%3#)7* 1`% (.//<% .4'08% H&3)% )(% '2,)-/.*4$% '3% 1
()-% /#$% [AK3% $I/-.4$&&6&.-% &.<$-38% "#$ /#./% /#$% 2.>)-% -)6/$% )(% ,$*$/-./')*% -$1 &'*)&$'4 .4'0%@ 1VC8%P)%3:'*%4#.*+$3%06$
&.2$&&.-%F)0'$3%2.<%.&3)%4)*/.'*%,-)/$'*3 36&/3% '*% /#$% /)-/6)63% #.&(7.<% F$/7$$* /)% .*% 1V% (.//<% .4'0% 0$;4'$*4<% .-$% 46-1
364#%.3%#62.*% 10$($*3'*%Q8`%L*%-$3,)*3$ /#$% 4)-*$)4</$39% 4)*;-2'*+% /#./% '*/$-1 -$*/&<%:*)7*Z%#)7$?$-9%'/%#.3%F$$*%,-)1
/)%4$-/.'*%3'+*.&39%,-)F.F&<%.*%'*4-$.3$%'* 4$&&6&.-% &','03% ,&.<% .*% '--$,&.4$.F&$% -)&$ ,)3$0%/#./%/#$3$%(.//<%.4'03%.-$%'2,)-/.*/
4.&4'62% 4)*4$*/-./')*% 06-'*+% /#$% /-.*3'1 '*%-$+6&./'*+%3:'*%F.--'$-%(6*4/')*8!%"#$ ()-% /#$% -$3)&6/')*% )(% '*\.22./')*8% 1V
/')*% (-)2% /#$% +-.*6&.-% &.<$-3% /)% /#$% [A9 2.>)-%&','0%4&.33$3%'*%/#$%[A%.-$%4#)&$31 (.//<% .4'03% .-$% )F/.'*$0% (-)2% ;3#9
/#$% &.2$&&.-% F)0'$3% 2)?$% /)% /#$% .,$I% )(
/#$% 6,,$-12)3/% +-.*6&.-% 4$&&39% (63$% 7'/#
/#$% ,&.32.% 2$2F-.*$9% .*0% 3$4-$/$% /#$'-
4)*/$*/% '*/)% /#$% '*/$-4$&&6&.-% 3,.4$3
/#-)6+#% $I)4</)3'38% "#$% &','03% 0$-'?$0
(-)2%/#$%&.2$&&.-%F)0'$3%.-$%36F3$56$*/&<
2)0';$0%.*0%-$.--.*+$0%'*/)%'*/$-4$&&6&.-
&.2$&&.$% ,)3'/')*$0% .,,-)I'2./$&<% ,.-.&1
&$&% /)% /#$% 4$&&% 36-(.4$8% "#$% 4)?.&$*/&<
F)6*0%&','0%$*?$&),$%.4/3%.3%.%34.(()&0%()-
/#'3% ,-)4$338% H(/$-% /#$% $I/-63')*% )(% /#$
&.2$&&.-%F)0'$3%'*/)%/#$%3/-./62%+-.*6&)1 78.9:$-;#<; .N8'7<H<I@I8H7848I'OA=68AO948'<J'J>==A>6I8I'C9'56'<668='H=A48<6'86L87AH8'56I'56'A>48='7<H<I
3621[A%'*/$-(.4$9%/#$%,)&.-%&','03%.-$%$*1 86L87AH8;'#H8O<57'O8=5B<I8J'5=8'OAL5786479'CA>6I'4A'OA=6<T8I'86L87AH8'H=A48<6JQ'H5=4<O>75=79'4A'<6LA7>O=<6; !?#
/#$% [A% '3% *)/% )F3$-?$0% '*% /#$% $,'0$-2.&
3/-./62% +-.*6&)3629% 3/-./62% 3,'*)3629
)-%3/-./62%F.3.&$8%"#'3%.&3)%36++$3/3%/#./
/$-2'*.&% 0'(($-$*/'./')*% '3% .% :$<% (.4/)-% '*
.44626&./'*+% 4$-.2'0$8% "#$% [A% 4)*/.'*3
./%&$.3/%*'*$%0'(($-$*/%4$-.2'0$38G!%L*%.00'1
/')*9% /#$-$% .-$% /7)% ,-)/$'*1F)6*0% 4$-.1
2'0$39% 4$-.2'0$% H% .*0% 4$-.2'0$% c% @3$$
M'+8% NW1`C8!% "#$3$% 4$-.2'0$3% .-$% 4)1
?.&$*/&<%F)6*0%/)%4)-*';$0%$*?$&),$%,-)1
/$'*39%2)3/%'2,)-/.*/&<%/)%'*?)&64-'*8
A$-.2'0$3% .-$% 3<*/#$3'=$0% F<% 3$-'*$1
,.&2'/)<&%/-.*3($-.3$%.3%-./$1&'2'/'*+%$*1
=<2$% .*0% F<% #<0-)&<3'3% )(% F)/#% +&64)1
3<&4$-.2'0$% @F<% 1+&64)4$-$F-)3'0.3$CGX
.*0%3,#'*+)2<$&'*%@F<%.4'0%3,#'*+)2<1
$&'*.3$C% @M'+38% NW1X% .*0 NW1TC8GT% Y#$-$.3
.&&%:'*03%)(%4$-.2'0$3%.-$%0$-'?$0%F<%3<*1
/#$3'3% (-)2% 3$-'*$1,.&2'/)<&% /-.*3($-.3$
.*0%(-)2% 1+&64)4$-$F-)3'0.3$9%)*&<%4$-1
.2'0$% Q% .*0% 4$-.2'0$% W% .-$% )F/.'*$0
(-)2% 3,#'*+)2<$&'*.3$% F$4.63$% 3,#'*1
+)2<$&'*%4)*/.'*3%*)*#<0-)I<%.4'038QU
,<H<I'.=56JHA=4
e$-./'*)4</$3% -$56'-$% .F6*0.*/% 4#)&$31
78.9:$-;#<# !>=<6?'I<KK8=864<54<A6Q'4N8'>HH8='J4=54>B'JH<6AJ>B'W#)X'56I'4N8'J4=54>B'?=56>7AJ>B'W#GX
/$-)&% ()-% 46/.*$)63% ,$-2$.F'&'/<% F.--'$-
O877J'?868=548'75B8775='CAI<8J'OA645<6<6?'H=8KA=B8I'7<H<I'J4=>O4>=8J'56I'N9I=A794<O'86V9B8J;'.N8<='OA64864'<J'8S@ (6*4/')*8% HcAHG% '3% .% 2$2F-.*$% /-.*31
4=>I8I'<64A'4N8'#G@J4=54>B'OA=68>B'W#1X'<648=K5O8'56I'>6I8=?A8J'H=AKA>6I'=8BAI877<6?;'#e'i'J4=54>B'C5J578; ,)-/$-% -$3,)*3'F&$% ()-% 4#)&$3/$-)&% $(\6I
.*0%,&.<3%.%,'?)/.&%-)&$%'*%-$+6&./'*+%4$&1
7#$-$.3 1`% (.//<% .4'03% .-$% )F/.'*$0 Y#$-$.3% 4$-.2'0$% '3% .% 2'*)-% &','0% 4)21 &6&.-% 4#)&$3/$-)&% &$?$&38% L/% 7.3% 0$2)*1
(-)2% ,&.*/% )'&38GN9GW% B33$*/'.&% (.//<% .4'0 ,)*$*/9%4)2,-'3'*+%&$33%/#.*%GUm%)(%4#)1 3/-./$0% /#./% HcAHG% '3% $I,-$33$0% '*% 46&1
0$;4'$*4<%@BMH_C%4.63$0%F<%6*636.&%#61 &$3/$-)&% )-% ,#)3,#)&','03% '*% )/#$-% 2.21 /6-$0% #62.*% :$-./'*)4</$3% .*0% 26-'*$
2.*% 0'$/3% )-% 2.&.F3)-,/')*% )-% $I,$-'1 2.&'.*% /'336$39% 4$-.2'0$% '3% .% 2.>)-% &','0 $,'0$-2'38% D'?$-% k% -$4$,/)-% .4/'?./')*
2$*/.&&<% '*064$0% '*% -./3% .*0% 2'4$% &$.03 4)2,)*$*/% '*% /#$% [A9% .44)6*/'*+% ()-% VU .*0%.4/'?./')*%)(%,$-)I'3)2$%,-)&'($-./)-1
/)%/#$%BMH_%3<*0-)2$9%4#.-.4/$-'=$0%F< /)% NU% ,$-4$*/% )(% &','03% F<% 7$'+#/8% S)-$1 .4/'?./$0% -$4$,/)-% @EEHaC1 9% EEHa133d
,-)()6*0% 4#.*+$3% '*% $,'/#$&'.% '*4&60'*+ )?$-9%364#%.%#'+#%4)*/$*/%)(%4$-.2'0$3%'* .*0%-$/'*)'0%k%-$4$,/)-%'*4-$.3$0%HcAHG
/#$%$,'0$-2'38G`%L*%/#'3%4)*0'/')*9%/#$%$,'1
0$-2'3%'3%-)6+#9%34.&<9%.*0%-$0%.*0%3#)73
.% 3$?$-$&<% 0'3/6-F$0% ,$-2$.F'&'/<% F.--'$- !"#$%&'+(*
(6*4/')*8% L*%.00'/')*9%3$?$-$%F.4/$-'.&%'*1 4)2*(O*+G(&A"%O*+2%,&2E&*/(&:*)$*"#&C2)%("#
($4/')*9%'2,.'-$0%7)6*0%#$.&'*+9%.*0%.&1 AI9C.6;9: :.7IC.I78<&L8:5: L6;C!5=6C8<&=5C!896:=:
),$4'.%2.<%)446-8%D'*)&$'4%.4'0%'3%,.-/%)( )8=B85C<7<49'C5==<8= ,5B8775='C<7598=J 29I=AHNAC<O'7<H<IJ
,#)3,#)&','039% +&64)3<&4$-.2'0$39% 4$-.1
2'0$% G9%4$-.2'0$%N9%.*0% 4$-.2'0$%T8G!%L/ *8ON56<O57'<648?=<49] 1A=6<T8I'86L87AH8Q'O94A@ 1=AJJ@7<6R8I'H8H4<I8J'W8;?;Q'<6LA7>O=<6Q'
#.3% F$$*% ,-),)3$0% /#./% /#$% &'*)&$'4% .4'0 =8J<7<86O8 JA7<O'T75B864J 7A=<O=<6XQ'R8=54<6'T75B864J
2$/.F)&'/$ 1&'*)&$'4%.4'0%'3%)(%3,$4'.&%'21 29I=54<A6 ,5B8775='C<7598=JY'OA=68A@ #8C5O8A>J'?756I@I8=<L8I'?79O8=A7Q'T7@
,)-/.*4$%()-%./),'4%$4=$2.8 O948'O94AJA7<O'B54=<S 5??=<6'C=85R@IAP6'5B<6A'5O<IJQ'654>=57'
BA<J4>=<V<6?'K5O4A=J
D$:AV84$M A$-.2'0$%'3%.*%.2'0$1&'*:$0
1AN8J<A6]I8J\>5B54<A6 1A=68AI8JBAJAB8J #8=<68'H=A485J8J
(.//<% .4'0% 4)*/.'*'*+% .% &)*+14#.'*% .2'*)
.&4)#)&% 4.&&$0% ),$"!07"61 L()%8% "#$% 4.-F)* +64<B<O=AC<57'I8K86J8 ,5B8775='C<7598=JQ'8S4=5@ (=88'K5449'5O<IJQ'564<B<O=AC<57'H8H4<I8J
4#.'*% &$*+/#3% )(% .2'0$1&'*:$0% (.//<% .4'03 O877>75='B54=<S
.*0%3,#'*+)'0%F.3$3%'*%2)3/%2.22.&'.* ME'H=A48O4<A6 1A=68AO948'O94AJA7 #4=>O4>=57'H=A48<6JQ'4=56J@>=AO56<O'5O<I
/'336$3%.-$%G`%/)%Q`%.*0%GX%/)%QU9%-$3,$41
/'?$&<%@3$$%M'+8%NW1`C8%H&/#)6+#%3,#'*+)&',1 +64<AS<I564'I8K86J8 1A=68AO948JQ'8S4=5O877>75=' /8=54<6JQ'J8C5O8A>J'?756I@I8=<L8I'L<45@
'039% '*4&60'*+% +&<4)3,#'*+)&','03% .*0 B54=<S B<6'&'56I'A4N8='564<AS<I564J
,#)3,#)3,#'*+)&','039% .-$% 6F'56'/)63&< F548=H=AAT6?]=8H87786O8 ,5B8775='C<7598=J /8=54<6AO948'56I'J8C>B@I8=<L8I'7<H<IJ
0'3/-'F6/$0% '*% 2.22.&'.*% /'336$39% /'336$1
194AR<68'J<?6577<6? 1A=68AO948'O94AJA7 #4A=5?8'56I'=8785J8'AK'H=A@",@ Q'J8=<68'
3,$4';4% 2)&$46&.-% 0'3/-'F6/')*% #.3% F$$*
H=A485J8J
0$34-'F$08% g&64)3<&4$-.2'0$% '3% $*-'4#$0
'*%/#$%$,'0$-2'3%.*0%3,&$$*%7#$-$.3%+.&1 p86AC<A4<O'I8K86J8 ,5B8775='C<7598=J ,<H<I'JA7>C<7<49Q'O94AON=AB8'H3^[
.4/)3<&4$-.2'0$% '3% $*-'4#$0% '*% /#$% F-.'* J9J48B'WA>48='8H<I8=B<JX
!?6 F6/% '3% *)/% 0$/$4/$0% '*% :$-./'*)4</$38 ",'i'<648=78>R<6Y'ME'i'>74=5L<A784;
$I,-$33')*%'*%:$-./'*)4</$%46&/6-$38%"#63
4#)&$3/$-)&%&$?$&3%()-%,$-2$.F'&'/<%F.--'$-
(6*4/')*%.-$%-$+6&./$0%F<%HcAHG9%&'?$-%k
-$4$,/)-9% .*0% EEHa38QG% "#$% 4$&&6&.-% (.//<
.4'0% /-.*3,)-/% .*0% 2$/.F)&'32% '3% -$+61
&./$0%F<%(.//<%.4'01F'*0'*+%,-)/$'*38QQ
&)"!&%*+,')%$,"(&%+."$-'
+-!'!"((&%&-."+."$-'"-'
#/"-'e+%%"&%'(M-1."$-
")%,-)?'0$%/#'3%,#<3'4.&%F.--'$-%)(%/#$%[A9
*)/% )*&<% '*/$-4$&&6&.-% &','039% F6/% .&3)% /#$
4)-*$)4</$3%.-$%)(%4-64'.&%'2,)-/.*4$8QV9QN
"#$% $,'0$-2'3% 6*0$-+)$3% :$-./'*'=./')*
'*% 7#'4#% $,'0$-2.&% 4$&&3% ,-)+-$33'?$&<
2./6-$%(-)2%F.3.&%4$&&3%7'/#%,-)&'($-./'?$
,)/$*/'.&% /)% &'($&$33% \.//$*$0% 356.2$3% )(
/#$%[A%@3$$%M'+8%NW1QC8%e$-./'*)4</$3%.-'3$
(-)2% 3/$2% 4$&&3% '*% /#$% F.3.&% &.<$-3% .*0
/-.*3'$*/%.2,&';4./')*%4$&&3%.*0%2)?$%/)
.% 3$-'$3% )(% 0'(($-$*/'./')*% $?$*/3% 6*/'&
/#$<% .-$% ;*.&&<% F-)6+#/% /)% 0$356.2.1
/')*8QW% "#639% '*% /#$% *)-2.&% $,'0$-2'39
/#$-$%'3%.%F.&.*4$%F$/7$$*%/#$%,-)4$33$3
)(% ,-)&'($-./')*% .*0% 0$356.2./')*% /#./
-$36&/3% '*% .% 4)2,&$/$% -$*$7.&% .,,-)I'1
2./$&<% $?$-<% QX% 0.<3% @3$$% A#.,8% `C8% L*
3)2$% )(% /#$% '4#/#<)3$39% /#$% -./$% )(% 0$31
56.2./')*%2.<%F$%0$4-$.3$09%&$.0'*+%/)
$,'0$-2.&%4$&&%-$/$*/')*%@-$/$*/')*%#<,$-1
:$-./)3'3C% @3$$% A#.,8% N!C8Q`% L*% '*\.22.1
/)-<% 3:'*% 0'3$.3$3% &':$% ,3)-'.3'39% /#$-$% '3
.*%'*4-$.3$% '*% ,-)&'($-./')*% -$36&/'*+%'*%.
0'3/6-F.*4$% '*% 0'(($-$*/'./')*% .*0% ,.-.1
:$-./)/'4%356.2$3%@#<,$-,-)&'($-./'?$%#<1
,$-:$-./)3'3C%@3$$%A#.,8%GXC8Q!
e$-./'*3% .-$% 2.>)-% 3/-64/6-.&% ,-)/$'*3
3<*/#$3'=$0% '*% :$-./'*)4</$3% @3$$% A#.,8
NNC8% "#$<% .33$2F&$% '*/)% .% 7$F1&':$% ,./1
/$-*% )(%'*/$-2$0'./$% ;&.2$*/3% /#./%$2.1
*./$% (-)2% .% ,$-'*64&$.-% -'*+9% $I/$*0
/#-)6+#)6/%/#$%4</),&.329%.*0%/$-2'*./$
./%>6*4/')*.&% 0$32)3)2$3% .*0% #$2'0$31
2)3)2$38%_6-'*+%/#$%;*.&%3/.+$3%)(%*)-1
2.&% 0'(($-$*/'./')*9% :$-./'*3% .-$% .&'+*$0
'*/)% #'+#&<% )-0$-$0% .*0% 4)*0$*3$0% .-1
-.<3%/#-)6+#%'*/$-.4/')*3%7'/#%;&.++-'*9%.
2./-'I% ,-)/$'*8% L*% :$-./'*% 0'3)-0$-39% /#$
;&.2$*/% *$/7)-:3% 4)&&.,3$% .-)6*0% /#$
*64&$639%,-$?$*/'*+%.//.4#2$*/%7'/#%/#$
;&.2$*/12./-'I% 4)2,&$I% .*0% /#$% '**$-
36-(.4$% )(% 356.2$3% .*0% .&/$-% '*/$-.4/')*
F$/7$$*% *$'+#F)-'*+% 4$&&39% /#$-$F<% .(1
($4/'*+% 0$356.2./')*8% M'&.++-'*% .++-$1
+./$3%/#$%:$-./'*%;&.2$*/3%'*/)%/'+#/%F6*1
0&$38% "#'3% ,-)2)/$3% /#$% 4)&&.,3$% )(% /#$
4$&&%'*/)%.%\.//$*$0%3#.,$9%7#'4#%'3%4#.-1
.4/$-'3/'4% )(% 4)-*$)4</$3% '*% /#$% 4)-*';$0
&.<$-8% ")+$/#$-9% :$-./'*3% .*0% ;&.++-'*
78.9:$-;#<6 .N8'J4=54>B'OA=68>B'7<H<I'C5==<8='OA645<6J'K=88'K5449'5O<IJQ'ONA78J48=A7Q'56I'I<KK8=864 4)*3/'/6/$%XU%/)%TU%,$-4$*/%)(%/#$%,-)/$'*
2.33%)(%2.22.&'.*%$,'0$-2'38QV9QN
O8=5B<I8' J>C@49H8J;' )=A48<6@CA>6I' O8=5B<I8J' 56I' L8=9@7A6?@ON5<6' O8=5B<I8J' H=AL<I8' 56' 56ONA=' C8@
"#$%3/-64/6-.&%,-)/$'*3%'*?)&64-'*9%&)-'1
4P886'4N8'H=A48<6'86L87AH8'H=A48<6J'56I'4N8'K=88'<648=O877>75='7<H<IJ;'
4-'*9% /-'4#)#<.&'*9% .*0% /#$% 4&.33% )(% 32.&&
,-)&'*$1-'4#%,-)/$'*3%.-$%3<*/#$3'=$0%.*0 !?"
A#.,8%GXXC8%L/%4)*3'3/3%)(%/7)%,.-/3h%.%,-)1
/$'*% $*?$&),$% .*0% .% &','0% $*?$&),$8% "#$
,-)/$'*% $*?$&),$% 4)*/-'F6/$3% /)% /#$% F')1
2$4#.*'4.&%,-),$-/'$3%)(%/#$%4)-*';$0%$*1
?$&),$%.3%.%-$36&/%)(%4-)331&'*:'*+%)(%3,$1
4'.&'=$0% 4)-*';$0% $*?$&),$% 3/-64/6-.&
,-)/$'*3% F<% F)/#% 0'36&;0$% F)*03% .*0
P@ C1@ 1+&6/.2<&C&<3'*$% '3),$,/'0$% F)*03
()-2$0% F<% /-.*3+&6/.2'*.3$38QN9QX% "#$
'3),$,/'0$% F)*03% .-$% -$3'3/.*/% /)% 2)3/
4)22)*% ,-)/$)&</'4% $*=<2$38% "#$% 4)-1
*$)4</$1F)6*0% &','0% $*?$&),$% '3% ,&.32.
2$2F-.*$1&':$% 3/-64/6-$9% 7#'4#% -$,&.4$3
/#$%,&.32.%2$2F-.*$%)*%/#$%$I/$-*.&%.31
,$4/% )(% 2.22.&'.*% 4)-*$)4</$38QT% L*1
?)&64-'*9%$*?),&.:'*9%.*0%,$-',&.:'*%3$-?$
.3%36F3/-./$3%()-%/#$%4)?.&$*/%.//.4#2$*/
1#<0-)I<4$-.2'0$3% 7'/#% ?$-<% &)*+
4#.'*% P1.4<&%(.//<% .4'03% )(% F<%$3/$-%&'*:1
.+$8VU%"#$3$%*)/%)*&<%,-)?'0$%.%4)./'*+%/)
/#$%4$&&9%F6/%.&3)%'*/$-0'+'/./$%7'/#%/#$%'*1
/$-4$&&6&.-%&','0%&.2$&&.$%@".F&$%NW1VC8QN
&p)&%"*&-.+,'e+%%"&%'
!"#%M)."$-'+-!'G&-&'
*$!"("1+."$-'"-'
&)"!&%*+,'!"((&%&-."+."$-
BI,$-'2$*/.&% F.--'$-% 0'3-6,/')*% &$.03% /)
4#.*+$3% '*% $,'0$-2.&% :$-./'*% .*0% 4)-*'1
;$0% $*?$&),$% ,-)/$'*% $I,-$33')*% .*09
?'4$%?$-3.9%)?$-$I,-$33')*%.*0%0$;4'$*4<
)(%/#$3$%,-)/$'*3%'*%2'4$%-$36&/%'*%F.--'$-
0$($4/38%H%*62F$-%)(%0'3$.3$3%0'3,&.<'*+
0$($4/'?$% $,'0$-2.&% F.--'$-% (6*4/')*% .-$
78.9:$-;#<" #964N84<O'H54NP59J'56I'R89'86V9B8J'KA='J4=54>B'OA=68>B'K=88'K5449'5O<IJ'56I'ONA78J@ .&3)% /#$% -$36&/% )(% +$*$/'4% 0$($4/3% '*% /#$
48=A7;'1A+'i'OA86V9B8'+Y'2*G@1A+'i'N9I=AS9B84N97?7>45=97'1A+; 3<*/#$3'3%)(%$'/#$-%:$-./'*39%4)-*';$0%$*1
?$&),$% ,-)/$'*39% )-% /#$% /-.*3+&6/.2'*.3$
36F3$56$*/&<% 4-)331&'*:$0% F<% /-.*3+&6/1 36--)6*0'*+39%4)*($-%7./$-%'2,$-2$.F'&1 G%4-)331&'*:'*+%$*=<2$8
.2'*.3$3%/)%-$'*()-4$%/#$%4)-*';$0%$*?$1 '/<8%"#$%4)-*';$0%4$&&%$*?$&),$%'3%.%/)6+# L*#'F'/')*% )(% #<0-)I<2$/#<&+&6/.-<&
&),$%>63/%F$*$./#%/#$%,&.32.%2$2F-.*$8 ,-)/$'*1&','0% ,)&<2$-% 3/-64/6-$% ()-2$0 A)H% -$064/.3$% F<% /),'4.&% .,,&'4./')*% )(
"#$% ,-)/$'*3% )(% /#$% 4)-*';$0% $*?$&),$ >63/% F$&)7% /#$% 4</),&.32'4% 2$2F-.*$ /#$% &','0% &)7$-'*+%0-6+% &)?.3/./'*% -$36&/3
4)*3/'/6/$%.,,-)I'2./$&<%!%/)%GU%,$-4$*/ .*0%36F3$56$*/&<%-$3'0$3%)*%/#$%$I/$-')- '*%.%0'3/6-F$0%F.--'$-%(6*4/')*%.*0%'*%$,'1
)(%/#$%2.33%)(%/#$%$,'0$-2'38%"#$3$%4)-1 )(%/#$%4)-*$)4</$3%@3$$%M'+8%NW1NC8%L/%'3%-$1 0$-2.&%#<,$-,-)&'($-./')*8%"#$-$()-$9%/#$
*$)4</$3%,-)?'0$%/#$%F6&7.-:%)(%2$4#.*1 3'3/.*/% /)% GU% ,$-4$*/% ,)/.33'62% #<0-)I1 3,$4';4% -$&./')*3#',% F$/7$$*% F.--'$-
'4.&% .*0% 4#$2'4.&% ,-)/$4/')*9% .*0% /)1 '0$%.*0%'3%/#$%-'+'0%3/-64/6-$%3$$*%)*%,)1 (6*4/')*% .*0% $,'0$-2.&% _PH% 3<*/#$3'3
+$/#$-% 7'/#% /#$'-% '*/$-4$&&6&.-% &','0 /.33'62% #<0-)I'0$% 3:'*% 34-.,'*+3% @3$$ 7.3% $I.2'*$08% H(/$-% .46/$% 3:'*% F.--'$-
78.9:$-;#<? #HN<6?AB987<6'56I'?79OAJ97O8=5B<I8J'5=8'H=8O>=JA='KA='O8=5B<I8'?868=54<A6Q'PN8=85J'HNAJHNA7<H<IJ'5=8'H=8O>=JA=J'AK'K5449'5O<IJ;
!??
78.9:$-;#<@ G868=54<A6'56I'I8?=5I54<A6'AK'O8=5B<I8J;
H@G
- . !
78.9:$-;#<>I .N=88' HN5J8J' AK' C5==<8=' =8OAL8=9' P<4N' I<J4<6O4' B845CA7<O' 5O4<L<4<8J' AOO>==<6?' 5K48=
5O>48'C5==<8='I<J=>H4<A6;'+'i'#8O=84<A6'AK'H=8KA=B8I'HAA7'AK'75B8775='CAI<8J'W['4A'b['B<6>48JX;'e'i'"6@
O=85J8I'7<H<I'J964N8J<J'WK=88'K5449'5O<IJQ'O8=5B<I8Q'56I'ONA78J48=A7X'Wb['B<6>48J'4A'`'NA>=JXQ'5OO878=548I
75B8775='CAI9'KA=B54<A6'56I'J8O=84<A6'W_'4A'`'NA>=JX;'1'i'"6O=85J8I'?7>OAJ97O8=5B<I8'H=AO8JJ<6?'Wa'4A
_3'NA>=JXQ'<6O=85J8I'R8=54<6AO948'H=A7<K8=54<A6'56I'I<KK8=864<54<A6'WZ`'4A'_3'NA>=JX;
,-)/$'*38% B,'0$-2)&<3'3% F6&&)3.% 3'2,&$I H&3)9% 4#.*+$3% '*% :$-./'*3% .*0% 4)-*';$0
3#)73% 26/./')*% '*% /#$% F.3.&% &.<$-% :$-1 $*?$&),$%,-)/$'*3%)446-%'*%'*\.22./)-<
./'*3%eW%)-%eGN%@3$$%A#.,8%`UC8%g$*$/'4 3:'*% 0'3$.3$38NG% O?$-.&&9% /#'3% 3#)73% /#./
0$($4/3%'*%/#$%36,-.F.3.&%:$-./'*3%-$36&/3 /#$-$% '3% 6*0)6F/$0&<% .% 4)**$4/')*% F$1
'*%#<,$-:$-./)3'3%.*0%.%2'&0%F.--'$-%0$1 /7$$*%$,'0$-2.&%,-)&'($-./')*9%0'(($-$*/'1
($4/% @3$$% A#.,38% N!% .*0% NXC8% B,'0$-1 ./')*9%.*0%3:'*%F.--'$-%(6*4/')*8
2)&</'4%#<,$-:$-./)3'3%#.3%3,'*)63%&.<$-
eG% )-% eGU% 0$($4/39% $,'0$-2)&</'4% ,.&1
2),&.*/.-% :$-./)0$-2.% #.3% +-.*6&.- (M-1."$-#'$('.2&'#Me@
&.<$-% eT% 0$($4/3% @F$4.63$% /#'3% :$-./'*% '3 1$%-&+,'&)"!&%*+,',+l&%#
$I,-$33$0% )*&<% '*% ,.&2.-% .*0% ,&.*/.- H&/#)6+#% /#$% [A% '3% -$4)+*'=$0% .3% /#$
3:'*%/#$%0'3$.3$%'3%-$3/-'4/$0%/)%/#./%.-$.C9 2)3/% '2,)-/.*/% ,#<3'4.&% F.--'$-9% /#$
.*0% '4#/#<)3'3% F6&&)3.% )(% ['$2$*3% #.3 &)7$-% $,'0$-2.&% &.<$-3% .-$% .&3)% 3'+*';1
+-.*6&.-%&.<$-%0$($4/3%eQ%@()-2$-&<%eQ$C 4.*/%'*%F.--'$-%(6*4/')*8%H%&)7%/)%2)0$-1
0$($4/3%@-$?'$7$0%'*%-$(8%QVC8 ./$% '*4-$.3$% '*% "BYD% )446-3% .(/$-% -$1
BI,$-'2$*/.&% ,$-2$.F'&'/<% F.--'$-% 0'31 2)?.&% )(% /#$% [A% F<% /.,$% 3/-',,'*+9
-6,/')*%&$.03%/)%.%,-$2./6-$%$I,-$33')*%)( 7#$-$.3% &)33% )(% /#$% $*/'-$% $,'0$-2'3
'*?)&64-'*9%F6/%*)/%&)-'4-'*8VV%O?$-$I,-$31 /#-)6+#%364/')*%F&'3/$-3%&$.03%/)%.%3$?$-$
3')*%)(%;&.++-'*%'*%2'4$%'*%/#$%36,-.F.3.& 0'3/6-F.*4$% '*% F.--'$-% (6*4/')*8% D)33% )(
$,'0$-2'3%-$36&/$0%'*%.%0$&.<%'*%F.--'$-%-$1 /#$%[A%.*0%,.-/3%)(%/#$%+-.*6&.-%&.<$-3%'*
,.'-8V!%D)33%)(%*)-2.&%,-);&.++-'*%.*0%;&1 3/.,#<&)4)44.&% 34.&0$013:'*% 3<*0-)2$9 78.9:$-;#<>> #R<6' I<J85J8J'P<4N' 5'I<J4>=C8I
.++-'*% 4.63$3% \.:<% /.'&% @(/d(/C9% .*% .6/)3)1 .-$% *)/% 636.&&<% &'($1/#-$./$*'*+% @3$$ JR<6'C5==<8='K>6O4<A6'JNAP'ON56?8J'<6'8H<I8=B57'I<K@
2.&%-$4$33'?$%26/./')*%'*%2'4$%/#./%-$36&/3 A#.,8%G!XC8NQ L*%4)*/-.3/9%36,-.F.3.&%.*0
K8=864<54<A6;'"6'54AH<O'I8=B54<4<JQ'4N8J8'ON56?8J'5=8
'*%0-<9%\.:<%3:'*9%.*0%.**6&.-%/.'&%.*0%,.7 36F1$,'0$-2.&% F&'3/$-'*+% 0'3$.3$3% ,$21
57=85I9' H=8J864' <6' 6A6@78J<A657' 56I' 5=8' BA=8' H=A@
4)*3/-'4/')*39% '*% /#$%*$)*./.&% ,$-')08%".-1 ,#'+63%?6&+.-'39%/)I'4%$,'0$-2.&%*$4-)&<1
+$/$0% .F&./')*% )(% /#$% 26-'*$% '*?)&64-'* 3'3% @D<$&&% 3<*0-)2$C9% .*0% 3$?$-$% F6-*39 6A>6O8I'<6'78J<A657'8H<I8=B<J;'.N8'H=A7<K8=54<A6'=548
+$*$%0'0%*)/%3#)7%4#.*+$3%'*%3:'*%F.--'$- -$3,$4/'?$&<9% .-$% &'($1/#-$./$*'*+% 7#$* <J'J<?6<TO56479'<6O=85J8I;'+'H=8B54>=8Q'C>4'=8I>O8IQ
(6*4/')*% 6*0$-%F.3.&%4)*0'/')*3VX%F6/%0'0 &.-+$%.-$.3%)(%/#$%F)0<%.-$%'*?)&?$0%@3$$ 8SH=8JJ<A6' AK' <6LA7>O=<6' AOO>=J;' .N8' 7A=<O=<6' JNAPJ
0$2)*3/-./$% .% -$064$0% .F'&'/<% ()-% F.--'$- A#.,38% VT% .*0% TNC8% E./'$*/3% 0'$% F$4.63$ ?5HJ'<6'4N8'J45<68I'C56I;'%8I>O8I'T75??=<6'8SH=8J@
-$,.'-8% D)-'4-'*10$;4'$*/% 2'4$% 0'0% *)/ )(%$I/$*3'?$%7./$-%&)33%)-%3$,3'3%'*064$0 J<A6'<J'<6'H5=4<O>75='6A48I'<6'6A6@78J<A657'JR<6;'e5J57
3#)7% .% 0'3/6-F$0% F.--'$-% (6*4/')*9% F6/ F<% $I/$-*.&% F.4/$-'.% '*($4/')*Z% )6/4)2$3 O94AR8=54<6'/^'8SH=8JJ<A6'<J'KA>6I'<6'J>H=5C5J57'O877J
0$2)*3/-./$0% .% +-$./$-% 3634$,/'F'&'/<% /) 0'-$4/&<% -$36&/'*+% (-)2% ,$-/6-F$0% F.--'$- <6'6A6@78J<A657'JR<6'56I'8L86'<6'4N8'864<=8'6>O78548I
2$4#.*'4.&% 3/-$339% 7#'4#% 2.<% .&/$-% 3:'* (6*4/')*8% [6-?'?.&% -./$3% 4.*% F$% +-$./&< 8H<I8=B<J'<6'78J<A657'54AH<O'8H<I8=B<J;')=A7<K8=54<A6@
F.--'$-%(6*4/')*%3$4)*0.-'&<8VT9NU '2,-)?$0%7'/#%.,,&'4./')*%)(%.*%.-/';4'.& 5JJAO<548I'/`'5HH85=J'<6'78J<A657'8H<I8=B<J'A679;'&S@
A#.*+$3%'*%$,'0$-2.&%,-)&'($-./')*%.*0 F.--'$-% '*% /#$% ()-2% )(% .% ()'&% )-% .% +-$.3$
H=8JJ<A6' AK' J>H=5C5J57' O94AR8=54<6' /Z[' <J' KA>6I' <6
0'(($-$*/'./')*%.-$%.&3)%3$$*%'*%'*\.22.1 )'*/2$*/9%)(/$*%4)*/.'*'*+%.4/'?$%.*/'2'1
4N8'864<=8'J>H=5C5J57'8H<I8=B<J'<6'6A=B57'56I'6A6@
/)-<% 3:'*% 0'3$.3$3% 7'/#% .% 0'3/6-F$0% 3:'* 4-)F'.&% 36F3/.*4$38% "#$3$% 4&'*'4.&% )F3$-1
F.--'$-%(6*4/')*%@3$$%M'+8%NW1GGC8%L*4-$.3$0 ?./')*3% 4)*;-2% /#$% '2,)-/.*4$% )(% /#$ 78J<A657' JR<6Q' C>4' J45<6<6?' P5J'=8I>O8I' <6'I<J85J8I
,-)&'($-./')*%'3%)*$%)(%/#$%2.'*%4#.-.4/$-1 *64&$./$0%$,'0$-2.&%&.<$-3%'*%3:'*%F.--'$- JR<6;' /Z`' 75C877<6?' <J' 57=85I9' KA>6I' <6' 6A6@78J<A657
'3/'43% )(% ,3)-'.3'39% F6/% .&3)% '*% ./),'4% 0$-1 (6*4/')*% '*% F)/#% 0'-$4/')*39% F)/#%'*% ,-$1 JR<6'56I'BA=8'H=A6A>6O8I79'<6'78J<A657'JR<6'<6'54AH<O
2./'/'3% &$3')*.&% 3:'*% /#$-$% '3% .% 4)*3'0$-1 ?$*/'*+%$I4$33'?$%7./$-%&)33%.*0%/#$%$*1 I8=B54<4<JQ' PN8=85J' <6h5BB54<A6@5JJAO<548I' /Zc
.F&$% '*4-$.3$% '*% $,'0$-2.&% ,-)&'($-./')*8 /-<%)(%#.-2(6&%36F3/.*4$3%'*/)%/#$%3:'*8NV JNAPJ'<BB>6AJ45<6<6?'<6'78J<A657'8H<I8=B<J'A679;
!@I
.<?N4':>6O4<A6JD'+'#8OA6I',<68' 1A668S<6JD'"648=O877>75=' /#$%3)14.&&$0%,'"+('/%4</):'*$3%/62)-%*$1
4-)3'3% (.4/)-% @"PMC9% '*/$-&$6:'*% @LDC1G9
&H<I8=B57'e5==<8= G548R88H8=J .*0%LD1`8%"#$%4</):'*$3%LD1G %.*0%LD1G
"'+#/%>6*4/')*3%.-$%4$&&%>6*4/')*3%3$.&'*+ A)**$I'*3% .-$% /-.*32$2F-.*$% ,-)/$'*3 .-$%.2)*+%/#$%($7%/#./%.-$%,-$3$*/%'*%/#$
*$'+#F)-'*+% 4$&&3% .*0% 4)*/-)&&'*+% /#$ /#./%#)2)1%)-%#$/$-)2$-'=$%)*%/#$%,&.32. [A%6*0$-%F.3.&%4)*0'/')*38%L*%-$3,)*3$%/)
,.-.4$&&6&.-%,./#7.<%)(%2)&$46&$39%3$,1 2$2F-.*$%/)%()-2%.%4)**$I)*8% A)**$I1 .&&% ()-23% )(% .46/$% F.--'$-% 0'3-6,/')*9% /#$
.-./'*+% /#$% .,'4.&% (-)2% /#$% F.3)&./$-.& )*3% )*% .0>)'*'*+% 4$&&3% .33)4'./$% /)% ()-2 ,-$()-2$0%,))&%)(%LD1G %'3%-$&$.3$08W!%LD1
,.-/3% )(% .% 4$&&% @($*4$% (6*4/')*C% @3$$% M'+8 +.,% >6*4/')*3% .*0% .&&)7% /#$% ,.33.+$% )( G9%"PM9%.*0%LD1`%.-$%,)/$*/%2'/)+$*3%.*0
NW1QC8% "#$% 2)3/% '2,)-/.*/% /'+#/% >6*41 ')*3% .*0% 32.&&% 2)&$46&$3% F$/7$$*% 4$&&38 3/'26&./)-3%)(%&','0%3<*/#$3'3%'*%46/.*$)63
/')*% ,-)/$'*3% '*% /#$% #62.*% $,'0$-2'3 A)**$I'*1Q`%'3%)*$%)(%/#$%2)3/%#'+#&<%6,1 .*0% $I/-.46/.*$)63% /'336$38% H(/$-% .46/$
.-$%)44&60'*9%4&.60'*39%.*0%=)*.&%)44&601 -$+6&./$0% +$*$3% '*% ,3)-'./'4% ,&.56$38% S'31 ,$-2$.F'&'/<% F.--'$-% 0'3-6,/')*% .*% '*1
'*+%,-)/$'*38%D)4.&'=./')*%)(%)44&60'*%'3 3$*3$% 26/./')*3% '*% 4)**$I'*1Q`% -$36&/% '* 4-$.3$%'*%/#$%$I,-$33')*%)(%"PM9%LD1G9%.*0
-$3/-'4/$0% /)% /#$% 3/-./62% +-.*6&)3629 ;?$% 0'3/'*4/% '4#/#<)3'31&':$% 3:'*% 0'3)-0$-3 LD1`%)*%/#$%2$33$*+$-%aPH%.*0%/#$%,-)1
=)*.&%)44&60'*+%,-)/$'*1G%.*0%4&.60'*1N @3$$% A#.,8% N!C8% L*% 2'4$% )?$-$I,-$33'*+ /$'*%&$?$&%)446-38GT9WX9WT%"#$-$%'3%.%0$&.<%'*
.-$%()6*0%'*%36,-.F.3.&%&.<$-39%.*0%4&.61 4)**$I'*1Q`9%.%#<,$-,-)&'($-./'?$%3/./$9%'*1 F.--'$-% -$,.'-% '*% 3$?$-.&% +$*$/'4.&&<% $*+'1
0'*31G%.*0%1!%.-$%()6*0%'*%.&&%$,'0$-2.& ;&/-./')*% )(% '226*)4$&&39% .*0% .% 0$&.<$0 *$$-$0% 2'4$9% '*4&60'*+% /#)3$% 0$;4'$*/% '*
&.<$-38% L*% ?.-')63% 0'3$.3$3% 7'/#% ,$-1 $,'0$-2.&%F.--'$-%-$4)?$-<%7$-$%*)/$08WG "PM1 %-$4$,/)-%G9%LD1G%-$4$,/)-%G% "PM1
/6-F$0%[A%F.--'$-%(6*4/')*9%364#%.3%,3)1 -$4$,/)-%G10)6F&$%:*)4:1)6/%2'4$9%.*0%'*
-'.3'3% ?6&+.-'39% &'4#$*% ,&.*639% .46/$% .*0 LD1`8GT9WT% S)-$)?$-9% /),'4.&% .,,&'4./')*% )(
4#-)*'4%$4=$2.9%.*0%'4#/#<)3'3%?6&+.-'39 )=A485J8J "PM% $*#.*4$3%,$-2$.F'&'/<%F.--'$-%-$,.'-9
/'+#/% >6*4/')*% ,-)/$'*3% /#./% 7$-$% ()-1 E-)/$.3$3%.-$%'2,)-/.*/%()-%$,'0$-2.&%0'(1 .*0%/),'4.&%.,,&'4./')*%)(%LD1`%'*%LD1`10$;1
2$-&<%-$3/-'4/$0%/)%/#$%3/-./62%+-.*6&)1 ($-$*/'./')*8%"#$%4#.-.4/$-'3/'4%-$3'3/.*4$ 4'$*/% 2'4$% -$3/)-$3% /#$% *)-2.&% 3,$$0% '*
362%.*0%6,,$-%3/-./62%3,'*)362%7$-$ )(%/#$%4)-*';$0%$*?$&),$%'3%F.3$0%)*%/#$ ,$-2$.F'&'/<% F.--'$-% @3$$% M'+8% NW1GQC8% L*
.&3)% ()6*0% '*% 0$$,$-% &.<$-3% )(% /#$% $,'1 ()-2./')*%)(%?$-<%3/.F&$%'3),$,/'0$%F)*03 "PM%-$4$,/)-%G10$;4'$*/%2'4$9%/#$%+$*$-.1
0$-2'38% A&.60'*1GJ0$;4'$*/% 2'4$% 0'$ /#./%.-$%4./.&<=$0%F<%/-.*3+&6/.2'*.3$%G9 /')*% )(% &','03% ()-% 3:'*% F.--'$-% -$,.'-% '3% 0$1
7'/#'*%G%0.<%)(%F'-/#%06$%/)%/-$2$*0)63 V9% .*0% W8% "-.*3+&6/.2'*.3$% G10$;4'$*/ &.<$0%.*0%/#$%.4/'?'/<%)(%.4'0%3,#'*+)2<1
7./$-%&)338NN%H&/$-$0%F.--'$-%(6*4/')*%)( 2'4$% 3#)7$0% .% 0$($4/'?$% [A% .*0% $.-&< $&'*.3$9% 7#'4#% +$*$-./$3% 4$-.2'0$3% ()-
/#$% 3:'*% #.3%.&3)% F$$*% 0$2)*3/-./$0% '* *$)*./.&% 0$./#8WQ% S6/./')*3% '*% /-.*31 3:'*%F.--'$-%-$,.'-9%'3%-$064$08GT%["H"V%/<1
2'4$% )?$-$I,-$33'*+% 4&.60'*1`% '*% /#$ +&6/.2'*.3$3%G%#.?$%F$$*%()6*0%/)%F$%/#$ -)3'*$%,#)3,#)-<&./')*%7.3%'*064$0%.(/$-
$,'0$-2'38NW9N` 0$($4/% '*% &.2$&&.-% '4#/#<)3'3% @3$$% A#.,8 F.--'$-%0'3-6,/')*%'*%7'&0%/<,$9%F6/%2.-:1
N!C8WV%A./#$,3'*%_%'3%'*?)&?$0%'*%/#$%,-)1 $0&<% -$064$0% '*% LD1`10$;4'$*/% 2'4$8% "#$
4$33'*+%)(%/-.*3+&6/.2'*.3$%G8%A./#$,3'* .46/$%'*4-$.3$%'*%"PM9%LD1G9%.*0%LD1`%.(/$-
!8JBAJAB57'56I'+IN8=86O8' F.--'$-%0'3-6,/')*%'3%4-64'.&%()-%3:'*%F.--'$-
_10$;4'$*/% 2'4$% $I,-$33$0% .% 0$($4/% '*
:>6O4<A6')=A48<6JD'#4=>O4>=57' F.--'$-%(6*4/')*%.*0%#<,$-,-)&'($-./')*8WN -$,.'-8% f)7$?$-9% '(% F.--'$-% 0'3-6,/')*% '3
1877@1877'"648=K5O8J' P$/#$-/)*% 3<*0-)2$9% .% 3$?$-$% .6/)1 ,-)&)*+$0% .*0% .%4#-)*'4%'*4-$.3$%'*%4</)1
3)2.&% -$4$33'?$% +$*)0$-2./)3'39% '3 :'*$% ,-)064/')*% )446-39% '/% 4)6&0% #.?$% .
H% ,$-/6-F./')*% '*% [A% F.--'$-% (6*4/')* #.-2(6&%$(($4/%&$.0'*+%/)%'*\.22./')*%.*0
4.63$0%F<%26/./')*3%'*%[ELPeW9%$*4)01
#.3%.&3)%F$$*%()6*0%.(/$-%/#$%.&/$-./')* $,'0$-2.&%,-)&'($-./')*8%_'3-6,/$0% ,$-2$1
)(% 0$32)3)2.&% ,-)/$'*38% _$32)+&$'*3 '*+% /#$% 3$-'*$% ,-)/$.3$% '*#'F'/)-% DBe"L
@3$$%A#.,8%N!C8%L*%P$/#$-/)*%3<*0-)2$9 .F'&'/<% F.--'$-9% $,'0$-2.&% #<,$-,-)&'($-.1
.-$% 0$32)3)2.&% 4.0#$-'*3% /#./% ,&.<% . /')*9% .*0% '*\.22./')*% '3% 7$&&% :*)7*% '*
)(/$*%.*%./),'4%$4=$2.1&':$%3:'*%0'3$.3$
2.>)-% -)&$% '*% 3/.F'&'='*+% 4$&&14$&&% .0#$1 3$?$-.&% 0'3$.3$3% &':$% '--'/.*/% .*0% .&&$-+'4
3')*%'*%/#$%&'?'*+%&.<$-3%)(%/#$%$,'0$-2'3 7'/#%.%0'3-6,/$0%,$-2$.F'&'/<%F.--'$-%'3
()6*08% [ELPe% W1d1% 2'4$% -$,&'4./$% :$< 4)*/.4/% 0$-2./'/'39% ./),'4% 0$-2./'/'39% .*0
@3$$ M'+8% NW1QZ% 3$$% A#.,8% WGC8% H6/).*/'1 ,3)-'.3'39%.*0%4)6&0%.++-.?./$%/#$%0'3$.3$8
($./6-$3%)(%P$/#$-/)*%3<*0-)2$9%'*4&601
F)0'$3% .+.'*3/% /#$3$% /-.*32$2F-.*$
+&<4),-)/$'*3%4.63$%F&'3/$-3%'*%,$2,#'1 '*+% .&/$-$0% 0$356.2./')*9% '2,.'-$0
:$-./'*'=./')*9%#.'-%2.&()-2./')*9%.*0%.
+63%?6&+.-'3%06$%/)%&)33%)(%:$-./'*)4</$
3:'*% F.--'$-% 0$($4/8% DBe"L% 0$;4'$*4<
"A6<O'*AI>754<A6JD'&H<I8=B57'
.0#$3')*8% L*% .46/$% $4=$2.9% 7#'4# 157O<>B'56I')A45JJ<>B',8L87J
3#)73% 0'3/6-F$0% 3:'*% F.--'$-% (6*4/')*9 4.63$3% .F*)-2.&% 0$32)3)2$% 4&$.?.+$
'*%/#$%6,,$-%+-.*6&.-%&.<$-%/#-)6+#%0$+1
.%-$064/')*%'*%:$-./'*)4</$%2$2F-.*$ H% ,$-/6-F$0% F.--'$-% -$4)?$-3% *)-2.&&<
-.0./')*%)(%0$32)+&$'*%G%06$%/)%[A%4#<1
B14.0#$-'*% '*% .-$.3% )(% 3,)*+')3'3% #.3 7#$*% $I,)3$0% /)% .*% '3)/)*'49% #<,$-1% )-
F$$*% ()6*08N!9NX% L*% /-.*3+$*'4% 2'4$% '* 2)/-<,/'4% $*=<2$1&':$% #<,$-.4/'?'/<8 #<,)/)*'4%$I/$-*.&%3)&6/')*%'*3/$.0%)(%.'-8
"#'3%&$.03%/)%0$($4/'?$%[A%.0#$3')*%.*0
7#'4#%/#$%0'3/-'F6/')*%)(%0$32)+&$'*%V L(%/#$%3)&6/')*%4)*/.'*3%F)/#%4.&4'62%.*0
-$36&/3%'*%&)33%)(%3:'*%F.--'$-%(6*4/')*8WW
'*%$,'0$-2'3%7.3%3'2'&.-%/)%/#./%'*%261 ,)/.33'62% /#$% F.--'$-% -$4)?$-<% '3% '*#'F1
4)63% 2$2F-.*$9% .% #'+#&<% '*4-$.3$0 '/$08% "#$-$% '3% .% 4.&4'62% +-.0'$*/% '*% /#$
"BYD% -$36&/$0% '*% &$/#.&'/<% 06-'*+% /#$ 194AR<68'#<?657<6?D'%8?>754<A6'AK' $,'0$-2'3% 7'/#% .% -$&./'?$&<% &)7% 4.&4'62
;-3/%7$$:%)(%&'($%06$%/)%0$#<0-./')*8NT &H<I8=B57'2AB8AJ45J<J'56I'%8H5<= 4)*4$*/-./')*%'*%/#$%F.3.&%$,'0$-2'39%.*0
S'4$% 4)*0'/')*.&&<% '*.4/'?./$0% '*% B1 .*% $?$*% &)7$-% 4)*4$*/-./')*% '*% /#$% 3,'1
4.0#$-'*%'*%/#$%$,'0$-2'3%0'$0%,$-'*.1 A</):'*$3%.-$%?$-<%'2,)-/.*/%()-%/#$%-$+1 *)63% &.<$-39% 7#'&$% /#$% #'+#$3/% 4.&4'62
/.&&<% 06$% /)% /#$% '*.F'&'/<% /)% -$/.'*% . 6&./')*% )(% 7)6*0% #$.&'*+% '*% 7#'4#% -$1 4)*4$*/-./')*3% .-$% ()6*0% '*% /#$% +-.*6&.-
(6*4/')*.&% $,'0$-2.&% 7./$-% F.--'$-8 $,'/#$&'=./')*%.*0%0'(($-$*/'./')*%/)%()-2 &.<$-38%A.&4'62%'*%/#$%[A%'3%?$-<%&)7%F$1
HF3$*4$% )(% B14.0#$-'*% &$.03% /)% '21 .% 4)2,$/$*/% F.--'$-% '3% /#$% &.3/% 3/$,% @3$$ 4.63$%/#$%-$&./'?$&<%0-<%[A%7'/#%$I/-.4$&1
,-),$-% &)4.&'=./')*% )(% :$<% /'+#/% >6*41 A#.,8%QNTC8%c$3'0$3%/#$%'226*$%4$&&39%:$1 &6&.-%&','03%'3%*)/%.F&$%/)%3)&?$%/#$%#'+#%,)1
/')*.&% ,-)/$'*3% .*0% '*% ,$-2$.F&$% /'+#/ -./'*)4</$3%.-$%.F&$%/)%,-)064$%.%&.-+$%?.1 &.-% ')*38% H(/$-% 0'3-6,/')*% )(% /#$
>6*4/')*3% .*0% /#63% .&/$-$0% $,'0$-2.& -'$/<%.*0%.2)6*/%)(%4</):'*$3%@M'+8%NW1GQZ ,$-2$.F'&'/<%F.--'$-%/#$-$%'3%'*\6I%)(%7.1
F.--'$-%(6*4/')*8WU 3$$% A#.,8% GGC8% O(% 3,$4'.&%'2,)-/.*4$% .-$ /$-%'*/)%/#$%[A%.*0%/#$%')*%+-.0'$*/%'3%&)3/ !@>
78.9:$-;#<>= +'C5==<8='<6J>74'K=AB'4N8'A>4J<I8'=8J>74J'6A4'A679'<6'4N8'=8785J8'AK'O94AR<68J'KA='8H<I8=B57'O877'J<?657<6?Q'C>4'57JA'<648=5O4J'P<4N'I8=B57'H=A@
O8JJ8JQ'PN<ON'B59'=8J>74'<6'<6h5BB54<A6'56I'>74<B54879'JO5='4<JJ>8'KA=B54<A6'<6'O5J8'AK'I8J4=>O4<A6'AK'4N8'I8=B<J;'G+G'i'?79OAJ5B<6A?79O56Y'G*@1#('i'?=56@
>7AO948'B5O=AHN5?8@OA7A69'J4<B>754<6?'K5O4A=Y'",'i'<648=78>R<6Y'.-('i'4>BA='68O=AJ<J'K5O4A=;
+4AH<O'!8=B54<4<JD'1A6J8\>86O8'
AK'5'1N=A6<O5779'!<J4>=C8I'e5==<8=
"#$%$I'3/$*4$%)(%.%0$($4/'?$%,$-2$.F'&1
'/<% F.--'$-% (6*4/')*% '*% ./),'4% 0$-2./'/'3
'3% *)7% 7'0$&<% .44$,/$08% H% +$*$/'4.&&<
'2,.'-$0%3:'*%F.--'$-%(6*4/')*%'3%.&-$.0<
,-$3$*/% '*% *)*1&$3')*.&% .*0% 2)-$% ,-)1
*)6*4$0% '*% &$3')*.&% 3:'*% '*% ./),'4% 0$-1
2./'/'38% L*4-$.3$0% $,'0$-2.&% ,-)&'($-.1
/')*% .*0% 0'3/6-F$0% 0'(($-$*/'./')*9
'*4&60'*+%4#.*+$3%'*%:$-./'*3%.*0%4)-*'1
;$0% $*?$&),$% ,-)/$'*3% '*?)&64-'*9% &)-'41
-'*9% .*0% ;&.++-'*9% .*0% '*% &','0% 4)2,)3'1
78.9:$-;#<>! 1N56?8J'<6'O57O<>B'?=5I<864'5K48='C5==<8='I<J=>H4<A6'=8?>7548J'75B8775='CAI9'J8O=8@ /')*9% 4.63$% '2,.'-$0% F.--'$-% (6*4/')*% '*
4<A6'56I'8H<I8=B57'I<KK8=864<54<A6; ./),'4% 0$-2./'/'3% @3$$% M'+38% NW1GG% .*0
NW1GNC8!V%a$4$*/&<9%/7)%26/./')*3%'*%/#$
,'4%@4.&4'62%)-%4#&)-'0$%')*C%-$4$,/)-3%.*0 -$4$33'?$% '4#/#<)3'3% @3$$% A#.,8% N!C9% .*0 ;&.++-'*%+$*$%#.?$%F$$*%0$34-'F$0!N%.*0
g% ,-)/$'*14)6,&$0% -$4$,/)-38% "),'4.&% .,1 _.-'$-%0'3$.3$%@3$$%A#.,8%NTC8%`N%"#$%0'31 '22$0'./$&<% 4)*;-2$08!W9!`% "7)% &)331
,&'4./')*%)(%4.&4'62%4#.**$&%.+)*'3/3%0$1 $.3$3% 7'/#% .% 2)-$% ,-)*)6*4$0% F.--'$- )(1(6*4/')*%+$*$/'4% ?.-'.*/3% '*% /#$% +$*$
&.<3%/#$%F.--'$-%-$4)?$-<%7#$-$.3%.*/.+)1 0'3-6,/')*% .-$% '*\.22./)-<% 0'3$.3$39 $*4)0'*+%;&.++-'*% .-$% 3/-)*+% ,-$0'3,)31
*'3/3%.44$&$-./$%F.--'$-%-$,.'-8 364#% .3% '--'/.*/% .*0% .&&$-+'4% 4)*/.4/% 0$-1
"#$%g%,-)/$'*14)6,&$0%-$4$,/)-3%2)01 2./'/'3% @3$$% A#.,38% QGG% .*0% GVC9% ./),'4
6&./$% '*/-.4$&&6&.-% 4<4&'4% .0$*)3'*$ 0$-2./'/'3%@3$$%A#.,8%GNC9%3$F)--#$'4%0$-1 !"#$%&'+('
2)*),#)3,#./.3$%@4HSEC%&$?$&9%'*4-$.3$ 2./'/'3% @3$$% A#.,8% QQC9% ,3)-'.3'3% @3$$ 42*(%*+$H&72H(&2E&*/(&C"*$%(2",&L$))+()&+%&
)(%'*/-.4$&&6&.-%4HSE%'*%$,'0$-2.&%:$-./'1 A#.,8% GXC9% .*0% "14$&&% &<2,#)2.% @3$$ */(&4$*/2D/P,+2H2QP&2E&:N+%&0+,2)-(),
*)4</$3%0$&.<3%F.--'$-%-$4)?$-<9%7#$-$.3 A#.,8% GN`C8% H&3)9% F&'3/$-'*+% 0'3$.3$39 q e5==<8='5C6A=B57<49'=8H=8J864J'5'H=<B5=9'A='
4HSE% .*/.+)*'3/3% .44$&$-./$% /#$% F.--'$- 2)3/% )(% /#$2% '*\.22./)-<1-$&./$09 <64=<6J<O'H=AO8JJD
-$4)?$-<8% H4/'?./')*% )(% 0),.2'*$% QJ&':$ 3#)7%.*%'*4-$.3$%'*%"BYD%$3,$4'.&&<%.(1 q "==<4564'OA645O4'I8=B54<4<J
-$4$,/)-39%2$&./)*'*%-$4$,/)-39%)-%3$-)/)1 /$-% &))3$*'*+% )(% /#$% F&'3/$-% -))(% .*0% /#$ q +778=?<O'OA645O4'I8=B54<4<J
*'*% -$4$,/)-% @/<,$% W1f"% GC% 0$4-$.3$3 0$?$&),2$*/%)(%$-)3')*3%@".F&$%NW1NC8 q e>=6J
'*/-.4$&&6&.-%4HSE%.*0%4)*3$56$*/&<%.41 S)3/% '*\.22./)-<% 3:'*% &$3')*3% .-$ q M7O8=J'W<JON8B<OQ'L5JO>75=Q'I<5C84<OX
4$&$-./$3% F.--'$-% -$4)?$-<9% 7#$-$.3% .4/'1 4)?$-$0% 7'/#% 0-<% 34.&$3% )-% 34.&$14-63/3 q e>77A>J'I<JA=I8=J'C9'K=<O4<A6'A='R8=54<6'
?./')*% )(% .0-$*$-+'4% Q% -$4$,/)-3% '*1 06$%/)%/#$%0'3/6-F$0%$,'0$-2.&%0'(($-$*/'1 5C6A=B57<4<8J
4-$.3$3%'*/-.4$&&6&.-%4HSE%.*0%0$&.<3%/#$ ./')*%.*0%.*%[A%7'/#%,))-%7./$-1#)&0'*+ q )=8B54>=8'<6K564mJ'JR<6
F.--'$-% -$,.'-8% S.*<% .+)*'3/3% )-% .*/.+)1 4.,.4'/<8%L*\.22./)-<% 3:'*% 0'3$.3$3% 4.* q "ON4N9AJ<JQ'G5>ON8='I<J85J8'W""XQ'-<8B566@
*'3/3% )(% *$6-)/-.*32'//$-% -$4$,/)-3% .-$ F$% ,-)064$0% F<% $'/#$-% $I)+$*)63% )-% $*1 )<OR'I<J85J8'W"X
63$0%4&'*'4.&&<%/)%/-$./%*$-?)63%0'3)-0$-38 0)+$*)63% 4.63$38% L*% 4)*/.4/% 0$-2./'/'39 q +'H=<B5=9'C5==<8='5C6A=B57<49'4=<??8=J'
[)2$%)(%/#$2%2'+#/%.&3)%F$%$(($4/'?$%()- 0'3-6,/')*% )(% /#$% F.--'$-% F<% '--'/.*/3% .*0 <BB>6A7A?<O'=85O4<A6JQ'C>4'L<O8'L8=J5'H=<@
/-$./'*+%3:'*%0'3$.3$38`X .&&$-+$*3% '3% /#$% ,-'2.-<% $?$*/9% ()&&)7$0 B5=9'<BB>6A7A?<O'=85O4<A6J'B59'4=<??8='
F<%3$*3'/'=./')*9%'*\.22./')*9%'*4-$.3$0 C5==<8='5C6A=B57<4<8J'<6'984'>6R6AP6'J>C@
$,'0$-2.&% ,-)&'($-./')*9% .*0% 4#.*+$3% '* ?=A>HJ'AK'4N8'I<J85J8J
)+.2$,$G"1'#/"-'e+%%"&%#D' 0'(($-$*/'./')*8% L*% "14$&&% &<2,#)2.% @2<1
#/"-'e+%%"&%'(M-1."$-' q +4AH<O'I8=B54<4<J
4)3'3%(6*+)'0$3C9%.*%$*0)+$*)63%4.63$%()- q )JA=<5J<J
"-'!&%*+.$#&# F.--'$-% 0'3-6,/')*9% 4#.*+$3% '*% $,'0$-2.& q "BB>6A7A?<O'5C6A=B57<49'4=<??8=J'C5==<8='
H%2'&0%'2,.'-2$*/%)(%/#$%3:'*%F.--'$-%'3 ,-)&'($-./')*9% .*0% 0'(($-$*/'./')*9% F<% $I1 5C6A=B57<49
()6*0% '*% 2)*)+$*$/'4% 0'3$.3$3% $I,-$331 ,.*3')*%)(%4&)*.&%2.&'+*.*/%A_Nn%"%4$&&3 q .@O877'79BHNAB5'WB9OAJ<J'K>6?A<I8JX
'*+%.*%'2,.'-$0%$,'0$-2.&%0'(($-$*/'./')* '3% )F?')638`T% L*% ./),'4% 0$-2./'/'3% .*0% '* q +>4A<BB>68'C>77A>J'I<J85J8J
)-% &','0% 4)2,)3'/')*% 7'/#)6/% '*\.22.1 ,3)-'.3'39%'/%'3%0$F./.F&$%7#$/#$-%,$-2$1 q ,<ON86'H756>J
/')*9%364#%.3%'4#/#<)3'3%?6&+.-'39%k1&'*:$0 .F'&'/<% F.--'$-% 0'3-6,/')*% '3% ()&&)7$0% F<
!@!
'*+%(.4/)-3%()-%./),'4%0$-2./'/'3%'*%./),'4
0MNL 1J+)'I%*4
:'*0-$03%)(%B6-),$.*%)-'+'*8!!%"#$3$%261
H@ ,@@
/./')*3% 7$-$% .&3)% 3'+*';4.*/&<% .33)4'./$0 A
7'/#% .3/#2.9% '*0$,$*0$*/% )(% ./),'4% 0$-1 ?@
2./'/'39% /#./% 2$.*3% /#./% +$*$/'4% (.4/)-3
/#./% 4)2,-)2'3$% /#$% $,'0$-2.&% F.--'$-
=@ E@ A
4)6&0% .&3)% 6*0$-&'$% 264)3.&% ./),'4% 0'31 6@
$.3$3%@;&.++-'*%'3%.%,-)/$'*%/#./%'3%6*'56$ A
/)%:$-./'*'='*+%$,'/#$&'.C8%"#$%./),'4%3<*1 >@ F@
0-)2$% -$,-$3$*/3% .% +$*$/'4.&&<% '2,.'-$0 H@
3:'*% F.--'$-% (6*4/')*% .3% 7$&&% .3% '2,.'-$0
*.3.&9% F-)*4#'.&9% .*0% '*/$3/'*.&% 264)63 /@ A =@
2$2F-.*$3% &$.0'*+% /)% ./),'4% 0$-2./'/'39
.&&$-+'4% -#'*'/'39% F-)*4#'.&% .3/#2.9% )-% .+1
>@
+-.?./')*% )(% ./),'4% 0$-2./'/'38% _$($4/'?$ ,@ /@
,$-2$.F'&'/<%F.--'$-%(6*4/')*%$*.F&$3%,$*1
$/-./')*% )(% $*?'-)*2$*/.&% .&&$-+$*3% '*/) ,@
/#$%3:'*%.*0%'*'/'./$3%'226*)&)+'4.&%-$.41 @ @
/')*3%.*0%'*\.22./')*%@M'+8%NW1GWC8%M'&.+1
+-'*% 26/./')*% '3% /#$% ;-3/% 3/-)*+% +$*$/'4 1#'$I"J
(.4/)-% '0$*/';$0% '*% /#'3% 4)2,&$I% 0'3$.3$8 K*4!$#5%*4'$
M'&.++-'*%#<0-)&<3'3%+$*$-./$3%.2'*)%.4'03 A L#5%*4'$ C
'*%/#$'-%0$.2'*./$0%,-)064/39%7#'4#%3$-?$ 78.9:$-;#<>; .=56J8H<I8=B57' P548=' 7AJJ' W.&F,X' WAX' 56I' J4=54>B' OA=68>B' N9I=54<A6' WCX' 5=8' <B@
.3% $*0)+$*)63% #62$4/.*/38!X% "#'3% 2.< H5<=8I'<6'54AH<O'I8=B54<4<J;'%8I>O8I'J4=54>B'OA=68>B'N9I=54<A6'56I'86N56O8I'.&F,'5=8'57=85I9'J886'<6
$I,&.'*%/#$%0-<%3:'*%7$&&%:*)7*%'*%./),'4
6A6@78J<A657'56I'5=8'BA=8'H=A6A>6O8I'<6'78J<A657'JR<6'<6'54AH<O'I8=B54<4<J;
0$-2./'/'38% H&3)9% +$*$% ,)&<2)-,#'323% '*
/#$% +$*$% ()-% [ELPeW9% 7#'4#% $*4)0$3% /#$
3$-'*$% ,-)/$.3$% '*#'F'/)-% DBe"L9% #.?$
F$$*%-$,)-/$0!T%.*0%?.-'./')*3%7'/#'*%/7)
3$-'*$% ,-)/$.3$3% )(% /#$% :.&&':-$'*% (.2'&<9
/#$% [A% 4#<2)/-<,/'4% $*=<2$% 7#'4#% 0$1
+-.0$3% 4)-*$)0$32)3)2.&% ,-)/$'*39% '*1
?)&?$0% '*% /#$% 4)#$3')*% F$/7$$*% /#$% 4)-1
*$)4</$3% )(% /#$% [A9% #.?$% F$$*% ()6*0% '*
3)2$%4)#)-/3%7'/#%./),'4%0$-2./'/'38
"#$% '2,.'-$0% 3:'*% F.--'$-% (6*4/')*% '*
./),'4% 0$-2./'/'3% '3% .&3)% 4.63$0% F<% -$1
064$0%&','0%4)*/$*/%)-%'2,.'-$0%&','0%4)21
,)3'/')*%'*%./),'4%0$-2./'/'38%L*%,.-/'46&.-9
.%0$4-$.3$0%4)*/$*/% ()-%/#$%/)/.&%.2)6*/
.*0% ()-% 4$-/.'*% /<,$3% )(% 4$-.2'0$3% #.3
F$$*%0$34-'F$08!Q%H%0$4-$.3$%'*%4)?.&$*/&<
F)6*0% 4$-.2'0$3XU% .*0% .% -$064$0% 3,#'*1
+)2<$&'*.3$% .4/'?'/<% #.3% F$$*% ()6*0% '*
./),'4% 0$-2./'/'38% H&3)9% 0$4-$.3$0% 3$4-$1
/')*% )(% &.2$&&.-% F)0'$39% 7#'4#% .-$% ,-$1
0)2'*.*/&<%4)2,)3$0%)(%&','039%7'/#%36F1
3$56$*/% $*/)2F2$*/% )(% &.2$&&.-% F)0'$3
7'/#'*%4)-*$)4</$39%#.3%F$$*%-$,)-/$08XG
)JA=<5J<JD'&H<I8=B57'
29H8=H=A7<K8=54<A6'56I'4N8'
#R<6'e5==<8= @[$$%A#.,8%GXC
E3)-'.3'3% '3% .% 4#-)*'49% +$*$-.&'=$09% .*0
34.&<%$-</#$2./)63%0$-2./)3'3%/#./%'3%,-'1
2.-'&<% &)4.&'=$0% '*% /#$% $,'0$-2'39% 3#)71
'*+%#'+#&<%$*#.*4$0%,-)&'($-./')*%.*0%0'31
/6-F$0% 0'(($-$*/'./')*9% 7#'4#% &$.03% /)
#<,$-:$-./)3'3%.*0%,.-.:$-./)3'38%L*%.00'1
/')*9%/#$-$%'3%.%*$6/-),#'&'4%'*;&/-./$%'*%/#$
F$+'**'*+%.*0%'*%,.-/'46&.-%'*%3$?$-$%4.3$3
)(% ,3)-'.3'3Z% &./$-% .% 2)0$-./$% "1&<2,#)1 78.9:$-;#<># &6IA?86A>J' 56I' 8SA?86A>J' <6J>74J' 785I' 4A' 5' I<J4>=C56O8' <6' JR<6' C5==<8=' K>6O4<A6Q
!@; 4</'4% '*;&/-./$% '3% ,-$3$*/8% c$4.63$% )(% /#'3 4N>J'<6I>O<6?'A='B5<645<6<6?'<6h5BB54A=9'JR<6'I<J85J8J'<6'54AH<O'I8=B54<4<J;
3$?$-$&<% 0'3/6-F$0% ,-)&'($-./')*% .*0% $,'1 4#)&$3/$-)&%.*0%4)*3$56$*/%.F*)-2.&'/< .*0%)'*/2$*/3%,.-/'.&&<%4)--$4/%)-%3/'21
0$-2.&% 0'(($-$*/'./')*9% /#$-$% '3% .*% '21 '*% /#$% 3/-64/6-.&% )-+.*'=./')*% )(% /#$% '*1 6&./$%F.--'$-%-$,.'-%.*0%'*4-$.3$%[A%#<0-.1
,.'-$0% F.--'$-% (6*4/')*8XQ% "#$% &$?$&% )( /$-4)-*$)4</$%&','0%&.2$&&.$8X`1XX /')*9NG9TUJTQ% /#63% '*\6$*4'*+% $,'0$-2.&
"BYD%'3%0'-$4/&<%-$&./$0%/)%/#$%4&'*'4.&%3$1 L4#/#<)3'3%?6&+.-'3%'3%/#$%2)3/%4)22)* ,-)&'($-./')*% .*0% 0'(($-$*/'./')*8GN% L/% #.3
?$-'/<% )(% /#$% &$3')*h% #'+#% "BYD% '*% .46/$ 2)*)+$*$/'4% 3:'*%0'3$.3$8% a$4$*/&<9% &)331 F$$*% ,-),)3$0% /#./% .% &','0% 2'I/6-$% 4)*1
$I.*/#$2./)63% ,3)-'.3'3Z% .% 2)0$-./$% '*1 )(1(6*4/')*%26/./')*3%'*%/#$%+$*$%$*4)01 /.'*'*+% /#$% /#-$$% :$<% &','0% +-)6,3% @4$-.1
4-$.3$%'*%"BYD%'*%/#$%4#-)*'4%,&.56$%/<,$ '*+%;&.++-'*%/#./%4.63$%'4#/#<)3'3%?6&+.-'3 2'0$39%4#)&$3/$-)&9%.*0%(-$$%(.//<%.4'03C%'3
)(%/#$%0'3$.3$8%HF*)-2.&'/'$3%'*%/#$%[A%'*1 #.?$%F$$*%0$34-'F$08%_6-'*+%/$-2'*.&%0'(1 .F&$%/)%'2,-)?$%3:'*%F.--'$-%(6*4/')*% .*0
/$-4$&&6&.-%&','039%$3,$4'.&&<%.%3'+*';4.*/%-$1 ($-$*/'./')*9% ,-);&.++-'*% '3% 4&$.?$0% '*/) [A%#<0-./')*%'*%./),'4%0$-2./'/'38TV%H&3)9
064/')*%'*%4$-.2'0$%G%#.?$%F$$*%()6*08XV 26&/',&$% ;&.++-'*% ,$,/'0$3% /#./% .++-$+./$ /#$%$(;4.4<%)(%4$-.2'0$%V%'*%.%*.*),.-/'4&$
B&$4/-)*%2'4-)34),<%3/60'$3%0'34&)3$0%3$1 :$-./'*% ;&.2$*/38% "#$% -$36&/.*/% 2./-'I% '3 4-$.2% '*% ./),'4% 0$-2./'/'3% #.3% F$$*% 0$1
?$-$%3/-64/6-.&%.&/$-./')*%)(%/#$%'*/$-4$&&61 4-)331&'*:$0% /)% ()-2% .% 2.>)-% 4)2,)*$*/ 34-'F$08TN% f)7$?$-9% F$4.63$% 3$?$-.&% -$1
&.-% &','0% &.2$&&.$8XN% H% +$*$/'4% &'*:.+$% )( )(% /#$% 4)-*';$0% 4$&&% $*?$&),$8% a$064/')* 3$.-4#% +-)6,3% .*0% 4)2,.*'$3% -$,)-/% /#./
,3)-'.3'3% /)% /#$% $,'0$-2.&% 0'(($-$*/'./')* )(%/#'3%2.>)-%3/-64/6-.&%,-)/$'*%&$.03%/)%.* 4-$.23% 4)*/.'*'*+% 4$-.2'0$3% .*0% .% 2'I1
4)2,&$I%G5QG%#.3%F$$*%()6*08%Y'/#'*%/#$ '2,.'-$0%:$-./'*'=./')*%.*0%/)%.%2)0$-./$ /6-$%)(%/#$%/#-$$%:$<%&','03%.-$%*)/%36,$-')-
$,'0$-2.&% 0'(($-$*/'./')*% 4)2,&$I% /#$ 0$($4/%'*%3:'*%F.--'$-%(6*4/')*8XT /)% ]4&.33'4.&^% 4-$.2% )-% )'*/2$*/% ,-$,.-.1
32.&&% ,-)&'*$1-'4#%,-)/$'*3% .-$%#'+#&<% 6,1 "-.*3+&6/.2'*.3$%G%'3%-$3,)*3'F&$%()- /')*39%364#%,-$,.-./')*3%#.?$%*)/%<$/%F$$*
-$+6&./$0%'*%,3)-'.3'3%,&.56$38XW%H&3)9%/#$ /#$% 4-)331&'*:% )(% 3$?$-.&% 4)-*';$0% $*?$1 7'0$&<%63$08%S)-$%-$3$.-4#%'3%*$4$33.-<%/)
.33)4'./')*% )(% ,3)-'.3'3% 7'/#% 4</):$-./'* &),$% ,-)/$'*38% "#$-$()-$9% 0$;4'$*4<% '* 0$/$-2'*$% /#$% 3'+*';4.*4$% )(% 4$-.2'0$3
eG!%#.3%F$$*%0'34633$08 /-.*3+&6/.2'*.3$% GWV% &$.03% /)% &.2$&&.- .*0% /#$% 4)2,)3'/')*% )(% 4-$.23% .*0% )'*/1
'4#/#<)3'39% 7#'4#% '3% .% 2)-$% 3$?$-$% 0'31 2$*/3%7'/#%/#$%2)3/%/#$-.,$6/'4%F$*$;/8
$.3$%/#.*%'4#/#<)3'3%?6&+.-'3%7'/#%.%0$1
"ON4N9AJ<JD')54NA7A?<O' ($4/%'*%;&.++-'*%)*&<8
/&l'%&(&%&-1&#'
,5OR'AK'*A<J4>=8'<6'4N8'
&H<I8=B<J @[$$%A#.,8%N!C .N8'K>77'=8K8=86O8'7<J4'KA='577'ON5H48=J'
.%&+.*&-.'"*),"1+."$-#'+-!'
+))%$+12&#D'%&#.$%"-G'.2&' <J'5L5<75C78'54'PPP;I<?Bc;OAB;
L4#/#<)3'3% 4)2,-'3$3% .% +-)6,% )(% 2)*)1
+$*$/'4% 0'3$.3$3% $I,-$33'*+% .% 0'3/6-F$0 #/"-m#')%$.&1."E&'(M-1."$- !8 c)673/-.%jH9%E'&+-'2%e9%E)*$4%Sh%[/-641
/6-$% )(% /#$% 3:'*% F.--'$-9% '*% F<"!1 A(''"%'9
0$356.2./')*% -$36&/'*+% '*% 34.&$3% .*0% . "-$./2$*/%3/-./$+'$3%'*%'*\.22./)-<%0'31
$0'/$0% F<% ES% B&'.39% ea% M$'*+)&08% P$7
2'&0% /)% 2)0$-./$% F.--'$-% 0$($4/8% "#$< $.3$3% )(/$*% .00-$33% '226*)+$*'4% .F*)-1 o)-:9%".<&)-%.*0%M-.*4'39%QUU`9%,%`W
.-$% 4.63$0% $'/#$-% F<% 4#.*+$3% '*% $,'0$-1 2.&'/'$3% .*0% F.--'$-% (6*4/')*8% "-$./2$*/ QV8 a)),% _h% _$($4/3% '*% /#$% F.--'$-8% F#"%!#%
2.&% &','03% )-% F<% 4#.*+$3% '*% $,'0$-2.& 7'/#% 4)-/'4)3/$-)'039% 4<4&)3,)-'*9% /.4-)&'1 "$(hN!N9%GTTW
0'(($-$*/'./')*8% k1&'*:$0% -$4$33'?$% '4#1 2639%,'2$4-)&'2639%.*0%Rl%&'+#/%#.3%F$$* QX8 A.*0'% B9% [4#2'0/% a9% S$&'*)% gh% "#$
4)-*';$0% $*?$&),$h% H% 2)0$&% )(% 4$&&
/#<)3'3% '3% -$&./'?$% 2'&0% *)*4)*+$*'/.& 3#)7*%/)%-$064$%4$&&%'*\.22./')*%.3%7$&& 0$./#%'*%/#$%3:'*8%E(&1>%81K7-1?%--1A"7-
'4#/#<)3'39% 4)*3'3/'*+% )(% .% +$*$-.&'=$0 .3%/)%'2,-)?$%F.--'$-%(6*4/')*9%/#63%#$&,1 $hVQX9%QUUW
0$356.2./')*% )(% &.-+$9% .0#$-$*/9% .*0 '*+% /)% *)-2.&'=$% ,-)&'($-./')*% .*0% 0'(1 N`8 c-.*0*$-%jS9%E-):34#%Bh%B,'0$-2.&%F.--'$-
0.-:% F-)7*% 34.&$38% "#$% 2$/.F)&'4% F.3'3 ($-$*/'./')*8%f)7$?$-9%F$4.63$%)(%3'0$%$(1 (6*4/')*h% a)&$% )(% /'+#/% >6*4/')*39% '*% F<"!
A(''"%'9% $0'/$0% F<% ES% B&'.39% ea% M$'*+)&08
)(%kDaL%'3%.*%$*=<2./'4%&<3)3)2.&%0$;1 ($4/39%/#$3$%/-$./2$*/3%3#)6&0%F$%63$0%()-
P$7%o)-:9%".<&)-%.*0%M-.*4'39%QUU`9%,%GTG
4'$*4<% )(% 3/$-)'0% 36&(./.3$% )-% .-<&36&(.1 .% 3#)-/%/'2$% )*&<8%L*%4)*/-.3/9% .,,&'4./')* !V8 E-):34#% B9% M)$&3/$-1f)&3/%a9% j$*3$*%jSh
/.3$% A8% A)2,&$/$% 0$&$/')*3% )(% /#$% F3F )(%F&.*0%4-$.23%.*0%)'*/2$*/3%4)*/.'*'*+ [:'*% F.--'$-% (6*4/')*9% $,'0$-2.&% ,-)&'(1
+$*$% 2.,,$0% /)% /#$% k,QQ8V1,/$-% -$+')* &','03% .*0% &','01&':$% 36F3/.*4$39% #<0-)4.-1 $-./')*%.*0%0'(($-$*/'./')*%'*%$4=$2.8%B
#.?$%F$$*% ()6*0%'*% 6,% /)%TU%,$-4$*/%)( F)*39% (.//<% .4'039% 4#)&$3/$-)&% $3/$-39% .*0 @%'+(&7-1F#"%!#% '&hGWT1G`T9%QUU`
!!8 L-?'*$% H_9% S4D$.*% Yfh% c-$.:'*+% /#$
,./'$*/38% "#$% -$064$0% 4#)&$3/$-)&% 36&(.1 /-'+&<4$-'0$3%4.*%F$%63$0%7'/#)6/%3'0$%$(1 @6*C3)6*0% F.--'$-h% M'&.++-'*% '3% .% 2.>)-
/.3$% .4/'?'/<% &$.03% /)% .44626&./')*% )( ($4/3% ()-% &)*+1/$-2% /-$./2$*/% )(% 2'&0% /) +$*$% ()-% ./),'4% 0$-2./'/'38% B1 C!8%)&1 @%'*
4#)&$3/$-)&% 36&(./$% .*0% .% -$064/')*% )( 2)0$-./$% '*\.22./)-<% 0'3$.3$38% A-$.23 +(&7- #"$hGQUU9%QUU`
+.'+'G,+-1&' -$4/%4</)/)I'4%$(($4/38GG%"#$-$%'3%.%4&$.-&<
0$2)*3/-./$0% '226*)&)+'41&':$% 4)21
,)*$*/% /)% /#$% '--'/.*/% -$3,)*3$9GQ% 7#'4#
q *8ON56<O57'K5O4A=J'WH=8JJ>=8Q'K=<O4<A6Q'
5C=5J<A6X
q &6L<=A6B864'W48BH8=54>=8Q'N>B<I<49X
'3% 4#.-.4/$-'=$0% F<% /#$% -$&$.3$% )(% ,-)1 q $4N8='8SHAJ>=8'K5O4A=JD'I>=54<A6Q'H=<A='A='
'*\.22./)-<%2$0'./)-39%,.-/'46&.-&<%4<1 J<B>74568A>J'8SHAJ>=8JQ'I<=8O4'L8=J>J'
/):'*$39% (-)2% *)*'226*$% 46/.*$)63 5<=CA=68
4$&&3%@:$-./'*)4</$3C%'*%-$3,)*3$%/)%4#$21
'4.&% 3/'26&'8% "#'3% '3% .% ,-)4$33% /#./% 0)$3 +I5H48I'K=AB'!86<?'-"Q'2AR8'+FQ'*5<C5ON'2";'"==<@
4564'OA645O4'I8=B54<4<J;'17>8J'4A'O5>J8JQ'O7<6<O57'
*)/%-$56'-$%,-$?')63%3$*3'/'=./')*8GU%_'31 ON5=5O48=<J4<OJQ'56I'OA64=A7;'"($4.-7;1B&;
"==<4564'OA645O4'I8=B54<4<J'W"1!X'<J'5'6A6@ -6,/')*%)(%/#$%3:'*%F.--'$-%&$.03%/)%-$&$.3$ >I!DZaaQ'_[cQ'_Z_Y'ZaadY'56I'(=AJON'):Q':AN6'
<BB>6A7A?<O'<6h5BB54<A6'AK'4N8'JR<6' )(% 4</):'*$3% 364#% .3% '*/$-&$6:'*% G % @LD1 #*D'17<6<O57'5JH8O4J'AK'<==<4564'OA645O4'I8=B54<4<JQ'<6'
O5>J8I'C9'OA645O4'P<4N'5'ON8B<O57Q'HN9J@ G C9% LD1G 9% .*0% /62)-% *$4-)3'3% (.4/)-1 >(/478415&-674949$Q'34N'8I<4<A6Q'8I<48I'C9'(=AJN'):Q'
<O57Q'A='C<A7A?<O'5?864; @"PM1 C8%H%GU1()&0%'*4-$.3$%'*%/#$%&$?$&3 *866r'.Q',8HA<448L<6':@);'G8=B569Q'#H=<6?8=@E8=75?'
e8=7<6'28<I87C8=?Q'_[[`Q'H'_^^;
MH'4A'd['H8=O864'AK'OA645O4'I8=B54<4<J'<J' )(% "PM1 % .*0% LD1`9% .*0% .% /#-$$()&0% '*1
<==<4564'56I'<J'OABBA679'=87548I'4A'AOO>@ 4-$.3$% '*% /#$% &$?$&3% )(% +-.*6&)4</$12.41
.% 4)*3$56$*4$% )(% 3,$4';4% 4$&&6&.-% '*/$-1
H54<A6; -),#.+$% 4)&)*<13/'26&./'*+% (.4/)-% .*0
.4/')*3% F$/7$$*% /#$% 4)2,)6*039% )-% .*
.N8'BAJ4'<BHA=4564'8SA?86A>J'K5O4A='KA=' LD1Q%#.?$%F$$*%)F3$-?$0%'*%LA_8%"PM1
.&/$-./')*% '*% /#$% 3:'*% ,$-2$.F'&'/<% F<
"1!'<J'4N8'<6N8=864'4AS<O<49'AK'4N8'ON8B<O57' '3%)*$%)(%/#$%:$<%4</):'*$3%'*%'--'/.*/%0$-1
)*$% )-% 2)-$% )(% /#$% 4)2,)6*039% /#./
KA='N>B56'JR<6; 2./'/'39% &$.0'*+% /)% /#$% '*4-$.3$0% $I,-$31
7)6&0%*)/%)446-%7#$*%.*%'--'/.*/%'3%63$0
3')*%)(%2.>)-%#'3/)4)2,./'F'&'/<%4)2,&$I
&6IA?86A>J'K5O4A=JQ'J>ON'5J'JR<6'C5==<8=' .&)*$8N9GQ%"#'3%'3%:*)7*%.3%/#$%#'7))78%'
4&.33% LL% .*0% '*/-.4$&&6&.-% .0#$3')*% 2)&$1
K>6O4<A6'56I'H=8@8S<J4<6?'I8=B54<4<JQ'H759' ,$%!7+%!7!8% L*% .% 3/60<% F<% Y'++$-1
46&$%G%)*%:$-./'*)4</$38GU9GV
56'<BHA=4564'=A78'<6'4N8'H54NA?868J<J'AK' H&F$-/'%$/%.&89GW%4)*46--$*/%.,,&'4./')*%)(
"1!; 3)0'62% &.6-<&% 36&,#./$% .*0% /)&6$*$
"-(,M&-1"-G'(+1.$%# /7'4$% 0.'&<% ()-% VU% 2'*6/$3% /)% /#$% ?)&.-
+4AH<O'I8=B54<4<J'<J'5'B5UA='=<JR'K5O4A='KA='
()-$.-23% )(% #$.&/#<% ?)&6*/$$-3% '*064$0
<==<4564'N56I'I8=B54<4<J'C8O5>J8'AK' LA_% '3% .% 26&/'(.4/)-'.&% 0'3$.3$% 7#$-$
3'+*';4.*/&<% 3/-)*+$-% '--'/.*/% -$.4/')*3
<BH5<=8I'C5==<8='K>6O4<A6'56I'5'7AP8=' F)/#% $I)+$*)63% @'--'/.*/% .*0% $*?'-)*1
/#.*% /#)3$% 4.63$0% F<% /7'4$10.'&<% .,,&'1
4N=8JNA7I'KA='JR<6'<==<454<A6; 2$*/.&C% .*0% $*0)+$*)63% @#)3/C% (.4/)-3
4./')*% )(% $.4#% 4#$2'4.&% .&)*$8% "#'3
)54ON'48J4<6?'JNA>7I'C8'H8=KA=B8I'<6' ,&.<% .% -)&$8% O446,./')*.&% LA_% '3% 0'31
3/60<%36++$3/3%.%4-)33)?$-%,#$*)2$*)*
O5J8J'P<4N'J>JH8O48I'ON=A6<O'<==<4564'I8=@ 4633$0%'*%2)-$%0$/.'&%'*%A#.,8%QGG8
F$/7$$*%/#$%/7)%4)2,)6*03%F<%7#'4#
B54<4<J'4A'8SO7>I8'56'5778=?<O'OA645O4'I8=@ )*$%'--'/.*/%4.63$0%.*%'*4-$.3$0%3634$,/'1
B54<4<J; F'&'/<%/)%/#$%)/#$-%'--'/.*/8
&SA?86A>J'(5O4A=J @".F&$%N`1GC
"I864<TO54<A6'56I'5LA<I56O8'AK'4N8'HA486@
4<57'<==<4564'<J'4N8'B5<6J459'AK'4=854B864; O/#$-%/#.*%7'/#%3/-)*+%.4'03%.*0%.&:.&'39
'/%#.3%*)/%F$$*%,)33'F&$%/)%,-$0'4/%/#$%'--'1 &6IA?86A>J'(5O4A=J @".F&$%N`1QC
/.*/%,)/$*/'.&%)(%.%4#$2'4.&%F.3$0%)*%2)1
$,'0$2')&)+'4%0./.%'3%&'2'/$08%B6-),$.* &$46&.-%3/-64/6-$8%"#$%'--'/.*/%,)/$*/'.&%)( .$W$J8D-7ADJP:M L/% #.3% F$$*% #<,)/#$1
4-)3313$4/')*.&% 3/60'$3% ()-% $4=$2.% 06$ 4)2,)6*0$0%()-26&./')*3%2.<%F$%2)-$ 3'=$0% /#./% .*% '*0'?'06.&K3% .F'&'/<% /)
/)% .&&% 4.63$3% '*% /#$% +$*$-.&% ,),6&./')* 0'(;46&/% /)% ,-$0'4/8% M.4/)-3% /)% F$% 4)*3'01 56$*4#% (-$$% -.0'4.&39% /)% 4#.*+$% /#$
#.?$% 3#)7*% ,)'*/% ,-$?.&$*4$% -./$3% )( $-$0% '*4&60$h% @GC% 4#$2'4.&% ,-),$-/'$3% )( &$?$&3% )(% .*/')I'0.*/% $*=<2$39% .*0% /#$
U8!%,$-4$*/%/)% NU% ,$-4$*/% .*0% G1<$.-% /) /#$%'--'/.*/h%,f9%,#<3'4.&%3/./$9%4)*4$*/-.1 .F'&'/<% /)% ()-2% ,-)/$4/'?$% #$./% 3#)4:
&'($/'2$% ,-$?.&$*4$% -./$3% )(% !8Q% ,$-4$*/ /')*9%2)&$46&$%3'=$9%.2)6*/9%,)&.-'=./')*9 ,-)/$'*3% 2.<% .&&% F$% 6*0$-% +$*$/'4% 4)*1
/)%GG8X%,$-4$*/8W%_./.%(-)2%/#$%R8[8%c61 ')*'=./')*9% ?$#'4&$9% 3)&6F'&'/<Z% @QC% 4#.-.41 /-)&8% "#$3$% (.4/)-3% .&3)% 0$/$-2'*$% /#$
-$.6%)(%D.F)-%[/./'3/'43%3#)7%/#./%)(%/#$ /$-'3/'43%)(%$I,)36-$h%.2)6*/9%4)*4$*/-.1 ?.-'.F'&'/<% '*% -$3,)*3'?$*$33% /)% '--'1
QNT9UUU% 4.3$3% )(% *)*(./.&% )446,./')*.& /')*9%06-./')*9%.*0%/<,$%)(%4)*/.4/9%3'26&1 /.*/38G`%H00'/')*.&&<9%.%+$*$/'4%,-$0'3,)1
'&&*$33$3%-$,)-/$0%'*%QUUN%()-% F)/#%+$*1 /.*$)63% $I,)36-$% /)% )/#$-% '--'/.*/39% .*0 3'/')*% /)% '--'/.*/% 3634$,/'F'&'/<% 2.<% F$
0$-39% GW8`% ,$-4$*/% @VX9TUU% 4.3$3C% 7$-$ '*/$-?.&% .(/$-% ,-$?')63% $I,)36-$N9GNZ% .*0 3,$4';4%()-%$.4#%'--'/.*/8G!
3:'*%0'3$.3$39%/#$%3$4)*0%2)3/%(-$56$*/ @VC% $*?'-)*2$*/.&% (.4/)-3h% F)0<% -$+')*
4.63$% )(% .&&% )446,./')*.&% 0'3$.3$3% -$1 .*0%/$2,$-./6-$9%.*0%2$4#.*'4.&%(.4/)-3 .$W4$: "#$%2.>)-'/<%)(%4&'*'4.&%LA_%.(1
,)-/$08`%c.3$0%.&3)%)*%.**6.&%36-?$<3%)( 364#% .3% ,-$336-$9% (-'4/')*9% )-% .F-.3')*8Q ($4/3%/#$%#.*039%.*0%7)2$*%.44)6*/%()-
/#$%c6-$.6%)(%D.F)-%[/./'3/'43%'*4'0$*4$ D)7%.2F'$*/%#62'0'/<%.*0%4)&0%/$2,$-1 .% 2.>)-'/<% )(% /#$3$% ,./'$*/38GX% a./#$-
-./$3% )(% )446,./')*.&% 0'3$.3$3% '*% /#$ ./6-$% 0$4-$.3$% /#$% 7./$-% 4)*/$*/% )(% /#$ /#.*%.%+$*0$-1-$&./$0%3:'*%3634$,/'F'&'/<9
H2$-'4.*% 7)-:'*+% ,),6&./')*9% 4)*/.4/ 3/-./62%4)-*$629%2.:'*+%'/%2)-$%,$-2$1 7)2$*% #.?$% 2)-$% $I/$*3'?$% $I,)36-$
0$-2./'/'3% 4)*3/'/6/$3% TU% ,$-4$*/% /)% TW .F&$%/)%'--'/.*/38 /)%'--'/.*/3%.*0%7$/%7)-:%.*0%.-$%2)-$
,$-4$*/%)(%.&&%)446,./')*.&%3:'*%0'3$.3$39 Y#$*% )*$% )-% 2)-$% '--'/.*/3% .-$% 4)21 &':$&<%/)%3$$:%/-$./2$*/%/#.*%2$*8N9GN9GT
.*0%LA_%4)*3/'/6/$3%.F)6/%XU%,$-4$*/%)( F'*$0% )-% 63$0% 3'26&/.*$)63&<9% .% 3<*$-1 P)% +$*0$-% 0'(($-$*4$% ()-% LA_% #.3% F$$*
)446,./')*.&%4)*/.4/%0$-2./'/'38! +'3/'4%)-%.*/.+)*'3/'4%$(($4/%2.<%)446-%.3 $3/.F&'3#$0%$I,$-'2$*/.&&<8
!@6
!"#$%&'-(* !"#$%&'-(,
5%-2Q(%2",&A$O*2),&6%S"(%O+%Q& .PD(,&2E&6))+*$%*&C2%*$O*&0()#$*+*+,&?6C0@
C"*$%(2",&6))+*$*+2% 6776.8.6;9 ;9:5. 47;J9;:6:
q +4AH<O'I8=B54<4<J
+O>48'"1! +O>48Q'AK486'J<6?78'8SHAJ>=8 GAAI
q #R<6'H8=B85C<7<49
q "6I<L<I>57'J>JO8H4<C<7<49 !87598I'5O>48'"1! !87598I'Z_j_3'N'A='7A6?8= GAAI
q )=<B5=9'J86J<4<L8'WN9H8=<==<45C78X'JR<6 "==<4564'=85O4<A6 +O>48Q'AK486'B>74<H78'8SHAJ>=8J GAAI
q ,5OR'AK'N5=I86<6?
q #8OA6I5=9'N9H8=<==<45C<7<49'AK'4N8'JR<6' 1N=A6<O'"1! #7AP79'I8L87AH<6?'WP88RJ'4A'985=JX E5=<5C78
WJ454>J'8OV8B54<O>JX .=5>B54<O'"1! #7AP79'I8L87AH<6?'5K48='H=8O8I<6?'4=5>B5 E5=<5C78
q %5O8
q +?8 +O68<KA=B'"1! *AI8=54879'J7AP79'I8L87AH<6?'WP88RJ'4A' E5=<5C78
q #86J<4<L<49'4A'>74=5L<A784'7<?N4 BA64NJX
-A68=94N8B54A>J'WJ>C8=94N8B54A>JX' #7AP79'I8L87AH<6? E5=<5C78
+I5H48I'K=AB'!86<?'-"Q'2AR8'+FQ'*5<C5ON'2";'"==<@
4564'OA645O4'I8=B54<4<J;'17>8J'4A'O5>J8JQ'O7<6<O57' <==<454<A6
ON5=5O48=<J4<OJQ'56I'OA64=A7;'"($4.-7;1B&; #>CU8O4<L8'WJ86JA=9X'<==<454<A6 +O>48 &SO877864
>I!DZaaQ'_[cQ'_Z_Y'ZaadY'56I'(=AJON'):Q':AN6'
#*D'17<6<O57'5JH8O4J'AK'<==<4564'OA645O4'I8=B54<4<JQ'<6' (=<O4<A6'I8=B54<4<J #7AP79'I8L87AH<6? E5=<5C78
>(/478415&-674949$Q'34N'8I<4<A6Q'8I<48I'C9'(=AJN'):Q'
*866r'.Q',8HA<448L<6':@);'G8=B569Q'#H=<6?8=@E8=75?' +J4854A4<O'<==<4564'8OV8B5' #7AP79'I8L87AH<6? E5=<5C78
e8=7<6'28<I87C8=?Q'_[[`Q'H'_^^;
$4N8='O7<6<O57'J>C49H8J'AK'5O>48'56I'
A.$ A#'&0-$*%<)6*+$-%/#.*%X%<$.-3%)(%.+$ ON=A6<O'"1!
.-$%2)-$%3634$,/'F&$%/)%,$-46/.*$)63%.F1 "648=I<?<457 #7AP79'I8L87AH<6?'WI59J'4A'P88RJX E5=<5C78
3)-,/')*% )(% 4#$2'4.&3% .*0% '--'/.*/% -$.41 (=<O4<A657'B8756AJ<J #7AP79'I8L87AH<6?'WBA64NJ'4A'985=JX )AA=
/')*38N%S)3/%3/60'$3%3#)7%*)%4)2,-)2'3$ !<5H8='I8=B54<4<J +O>48'A='I87598I E5=<5C78
'*%3:'*%F.--'$-%,$-2$./')*%7'/#%'*4-$.3'*+ 1N8B<O57'C>=6J +O>48'A='I87598I E5=<5C78
.+$8%_./.%)*%/#$%'*\6$*4$%)(%.+'*+%)*%$I1 -A6<BB>6A7A?<O'OA645O4'>=4<O5=<5 +O>48 E5=<5C78
,$-'2$*/.&% 3:'*% '--'/./')*% .-$% 4)*\'4/'*+8 +<=CA=68 +O>48 E5=<5C78
l'3'F&$% 3:'*% '--'/./')*% @$-</#$2.C% '3% 0$1 #O57H'<==<454<A6 +O>48'A='I87598I E5=<5C78
4-$.3$0% '*% )&0$-% ,$-3)*3% 7#'&$% '*?'3'F&$ -5<7'<==<454<A6 !87598I'4A'J7AP E5=<5C78
3:'*% '--'/./')*% @F.--'$-% 0.2.+$C% 2'+#/% F$ .56I8B5 +O>48'A='I87598I E5=<5C78
'*4-$.3$0%'*%/#$%$&0$-&<8QU )NA4A<==<454<A65 +O>48 E5=<5C78
5)8=JA657'OABB>6<O54<A6'2;'";'*5<C5ONQ':>68Q'_[[^;
$JSW8D8JU "#$-$% .-$% *)% 3/60'$3% /#./
+I5H48I'K=AB'1N8P'+,Q'*5<C5ON'2";'.86'?86A49H8J'AK'<==<4564'OA645O4'I8=B54<4<JQ'<6'2--947/415&-674949$Q'8I<48I'
0$2)*3/-./$%/#./%3:'*%/<,$3%3'+*';4.*/&< 1N8P'+,Q'*5<C5ON'2"Q',8HA<448L<6':@);'G8=B569Q'#H=<6?8=@E8=75?'e8=7<6'28<I87C8=?Q'_[[`Q'H'`;
'*\6$*4$% /#$% 0$?$&),2$*/% )(% LA_8QG9QQ
c$4.63$%$-</#$2.%'3%0'(;46&/%/)%2$.36-$
'*% 0.-:% 3:'*9% $.-&<% 3/60'$3QV% 63'*+% $-<1 4#$2'4.&% ()-% #62.*% 3:'*% .*0% '/3% ,$*$1 G8 C''"&(!&1 '%(#&"7!O1 H*% '--'/.*/% -$.4/')*
/#$2.%.3%/#$%)*&<%,.-.2$/$-%/)%56.*/'(< /-./')*8Q!% "#$% 2)3/% '2,)-/.*/% $*0)+$1 4&'*'4.&&<%,-$3$*/3%.3%.*%.46/$%2)*)1
'--'/./')*% 2.<% #.?$% &$0% /)% .*% $--)*$)63 *)63%(.4/)-3%.-$%./),'4%#'3/)-<%.*0%3:'* 2)-,#'4% -$.4/')*% /#./% '*4&60$3% 34.&1
'*/$-,-$/./')*%/#./%F&.4:%3:'*%'3%2)-$%-$1 F.--'$-%(6*4/')*8QU '*+9%&)71+-.0$%$-</#$2.9%?$3'4&$39%)-
3'3/.*/%/)%'--'/./')*%/#.*%7#'/$%3:'*8%L/%'3 $-)3')*3% .*0% '3% 636.&&<% &)4.&'=$0% )*
.&3)%,)33'F&$%/#./%?.-'./')*3%.2)*+%'*0'1 /#$%0)-362%)(%/#$%#.*03%.*0%;*+$-38
1,"-"1+,'.l)&#'$('"%%".+-.' L/%'3%)(/$*%3$$*%'*%'*0'?'06.&3%7#)%.-$
?'06.&3% -./#$-% /#.*% $/#*'4'/<% ,&.<% .% -)&$
1$-.+1.'!&%*+."."# $I,)3$0% /)% 7$/% 7)-:8% H*% '--'/.*/
'*%/#$%'*/$*3'/<%)(%.*%'--'/.*/%-$3,)*3$8QN
LA_%#.3%.%3,$4/-62%)(%4&'*'4.&%($./6-$39 -$.4/')*% 4.*% -$3)&?$% )-% ,-)+-$33% /)
ME8W-M8J$ "#$-$% .-$% 3'+*';4.*/% 3'/$% 0'(1 7#'4#% 4.*% F$% 0'?'0$0% '*/)% 3$?$-.&% 0'(1 4626&./'?$%'--'/.*/%0$-2./'/'38GU9GQ
($-$*4$3%'*%F.--'$-%(6*4/')*9%2.:'*+%/#$ ($-$*/%4./$+)-'$39%0$,$*0'*+%)*%/#$%'--'1 Q8 4#9&%1C?@O%H46/$%LA_%636.&&<%-$36&/3
3:'*%)(%/#$%(.4$9%*$4:9%34-)/629%.*0%0)-1 /.*/% .*0% '/3% $I,)36-$% ,.//$-*8QX% c6/ (-)2% .% 3'*+&$% 3:'*% $I,)36-$% /)% .
3.&%#.*03%2)-$%3634$,/'F&$%/)%LA_8%"#$ /#$3$% 2.*'($3/./')*3% .&3)% 0$,$*0% )* 3/-)*+% '--'/.*/% )-% 4.63/'4% 4#$2'4.&9
,.&23%.*0%3)&$3%.-$%4)2,.-./'?$&<%2)-$ 2$4#.*'4.&9%/#$-2.&9%4&'2./'49%.*0%4)*1 364#% .3% .&:.&'3% .*0% .4'039% )-% .3% .
-$3'3/.*/8QW 3/'/6/')*.&% (.4/)-38GN% "#$% 4&'*'4.&% /<,$3 -$36&/%)(%.%3$-'$3%)(%F-'$(%4#$2'4.&%)-
)(%LA_%?.-<%.44)-0'*+%/)%/#$%'--'/.*/%'* ,#<3'4.&% 4)*/.4/38% S)3/% 4.3$3% )(
AJPRU H% #'3/)-<% )(% ./),<% '3% .% 7$&&1 56$3/')*h% 6&4$-./')*% @$8+89% 3/-)*+% .4'03 .46/$% '--'/.*/% 0$-2./'/'3% .-$% .% 4)*3$1
:*)7*% ,-$0'3,)3'*+% (.4/)-% ()-% '--'/.*/ )-% .&:.&'3C9% ()&&'46&'/'3% @$8+89% )'&3% .*0 56$*4$% )(% .44'0$*/3% ./% 7)-:8% H% 3$*1
#.*0%0$-2./'/'3%@3$$%A#.,8%GNC8%H%#'3/)-< +-$.3$3C9% 2'&'.-'.% @$8+89% .&62'*62% 4#&)1 3./')*%)(%F6-*'*+9%'/4#'*+9%)-%3/'*+'*+
)(%./),'4%0$-2./'/'3%3$$23%/)%F$%&'*:$0%/) -'0$C9% #<,$-,'+2$*/./')*% @$8+89% #$.?< 2.<% )446-% '22$0'./$&<% .(/$-% /#$
.*%'*4-$.3$0%3634$,/'F'&'/<%/)%'--'/.*/%0$-1 2$/.&3C9%.*0%#<,),'+2$*/./')*%@$8+89%,1 $I,)36-$% /)% /#$% '--'/.*/8% "#$% ,./'$*/
2./'/'3%F$4.63$%)(%.% &)7$-%/#-$3#)&0% ()- /$-/1F6/<&,#$*)&C8GU 2.<%,-$3$*/%7'/#%$-</#$2.9%$0$2.9
3:'*%'--'/./')*9%'2,.'-$0%3:'*%F.--'$-%(6*41 H/%&$.3/%GU%4&'*'4.&%/<,$3%)(%LA_%#.?$ .*0% ?$3'46&./')*% .*0% 7'/#% $I60.1
/')*9%.*0%3&)7$-%#$.&'*+%,-)4$338Q` F$$*%0$34-'F$08%"#$<%.-$%&'3/$0%'*%".F&$ /')*9% F6&&.$% ()-2./')*9% .*0% /'336$
"#639%/#$%2)3/%'2,)-/.*/%$I)+$*)63 N`1V% .&)*+% 7'/#% .% *62F$-% )(% 4&'*'4.& *$4-)3'3% '*% 2)-$% 3$?$-$% 4.3$38% "#$
(.4/)-% '3% /#$% '*#$-$*/% /)I'4'/<% )(% /#$ 36F1/<,$3%)(%.46/$%.*0%4#-)*'4%LA_8 #$.&'*+%,-)4$33%)(%.46/$%LA_%)446-3
!@"
56$*/%$I,)36-$%/)%3)2$%'--'/.*/39%/#$
!"#$%&'-(' !"#$%&'-(+
3:'*%F$4)2$3%#.-0$*$09%7'/#%F$//$-
8+)12)%(&6))+*$%*, C/(#+O$H,&C$",+%Q&0(H$P(-&
-$3'3/.*4$% /)% (6/6-$% '--'/.*/% $I,)1
q +O<IJ'56I'57R57<J 6))+*$%*&7($O*+2%,
36-$38%f.-0$*$0%3:'*%.,,$.-3%4).-3$
q +BBA6<5 q +O=97548J'WO8=45<6X .*0%&'4#$*'('$09%7#'4#%2.<%4)*/-'F1
q +6N9I=A>J'O57O<>B'J>7K548 q e>4568I<A7'I<5O=97548 6/$% /)% (6-/#$-% -$3'3/.*4$8% f)7$?$-9
q +=J86<O q 28S568I<A7'I<5O=97548 $?$*%F-'$(%,$-')03%.7.<%(-)2%$I,)1
q 157O<>B'J<7<O548 q .84=584N97868'?79OA7'I<5O=97548 36-$% &)7$-% /#$% -$3'3/.*4$9% .*0% 7'/#
q 18B864 q +64N=57<6'W!<4N=56A7X -$1$I,)36-$9%,./'$*/3%.-$%)*4$%.+.'*
q !<ON7A=LAJ q e86V57RA6<>B'ON7A=<I8 ./%-'3:%()-%'--'/./')*8%A#-)*'4%4626&.1
q !AB8J4<O'O7856<6?'H=AI>O4J q e86VA97'H8=AS<I8 /'?$%LA_%4.*%F$%4)*(63$0%7'/#%HA_
q &HAS9'=8J<6J q e<J'W_@ON7A=A84N97X'J>7TI8 F$4.63$%)(%/#$%0$&.<$0%.*0%?.-'.F&$
q (A=B57I8N9I8 q 157O<HA4=<A7 ,-$3$*/./')*9% .*0% .,,-),-'./$% 0'.+1
q (<C8=?75JJ q !<ON7A='W_@ON7A=AL<697X'5=J<68 *)3/'4% ,./4#% /$3/'*+% '3% '*0'4./$0% /)
q "6I>J4=<57'JA7L864J q !<O7AK865O $I4&60$%HA_8%"#$%,-)+*)3'3% )(%461
q *84577<O'AS<I8'HAPI8=J q &H<ON7A=N9I=<68 26&./'?$%LA_%'3%?.-'.F&$8N9GQ
q )5H8= q &4N97868'AS<I8 W8 F9LP%#&"8%1 2)/+,&7+(&"#Q1 )%!)7'/51 "''"*
q )N86A7'KA=B57I8N9I8'=8J<6J q (7>A=AN9I=A?86<O'5O<I &(!#/O% E./'$*/3% 4)2,&.'*% )(% '/4#'*+9
q #5PI>J4'K=AB'4AS<O'4=88J q -A656A<O'5O<I /'*+&'*+9%3/'*+'*+9%F6-*'*+9%)-%32.-/'*+
q #<7L8= q $O497'?577548 3$*3./')*% 7'/#'*% 2'*6/$3% )(% 4)*/.4/
q #AI<>B'J8J\><O5=CA6548 q )AIAHN977<6 7'/#% .*% '--'/.*/9% F6/% 7'/#)6/% ?'3'F&$
q M=85@KA=B57I8N9I8'<6J>754<6?'KA5BQ' q )=AH97868'?79OA7 46/.*$)63%4#.*+$38GQ9QX%[6F>$4/'?$%'--'1
I>J4'KA5B q #AI<>B'75>=97'J>7K548 /.*4<%636.&&<%)446-3%)*%/#$%(.4$9%#$.09
q FAA7'I>J4'W<6'54AH<O'H54<864JX q .=84<6A<6 .*0%*$4:8%A)32$/'439%36*34-$$*39%.*0
7))&$*% +.-2$*/3% .-$% 4)22)*&<% '21
+I5H48I'K=AB'!86<?'-"Q'2AR8'+FQ'*5<C5ON'2";'"==<@ +I5H48I'K=AB'!86<?'-"Q'2AR8'+FQ'*5<C5ON'2";'"==<@ ,&'4./$08V9N9QX% O/#$-% 4)22)*% 3$*3)-<
4564'OA645O4'I8=B54<4<J;'17>8J'4A'O5>J8JQ'O7<6<O57' 4564'OA645O4'I8=B54<4<J;'17>8J'4A'O5>J8JQ'O7<6<O57' '--'/.*/3% '*4&60$% &.4/'4% .4'0% @.% 2)0$&
ON5=5O48=<J4<OJQ'56I'OA64=A7;'"($4.-7;1B&; ON5=5O48=<J4<OJQ'56I'OA64=A7;'"($4.-7;1B&;
>I!DZaaQ'_[cQ'_Z_Y'Zaad; >I!DZaaQ'_[cQ'_Z_Y'ZaadY'56I'(=AJON'):Q':AN6' ()-%/#'3%,#$*)2$*)*C9%,-),<&$*$%+&<1
#*D'17<6<O57'5JH8O4J'AK'<==<4564'OA645O4'I8=B54<4<JQ'<6' 4)&9% .*0% .&62'*62% 3.&/38% [/'26&./')*
>(/478415&-674949$Q'34N'8I<4<A6Q'8I<48I'C9'(=AJN'):Q' )(% 46/.*$)63% /<,$% A% *)4'4$,/)-3% #.3
.3% .% 0$4-$34$*0)% ,#$*)2$*)*9 *866r'.Q',8HA<448L<6':@);'G8=B569Q'#H=<6?8=@E8=75?' F$$*% '2,&'4./$0% '*% /#'3% ()-2% )(% '--'1
7#$-$% /#$% '--'/.*/% -$.4/')*% 56'4:&< e8=7<6'28<I87C8=?Q'_[[`Q'H'_^^; /.*4<9GQ%.&/#)6+#%-$4$*/&<%4#.*+$3%'*
,$.:3% .*0% /#$*% '22$0'./$&<% F$+'*3 46/.*$)63% ?.346&./6-$% #.?$% F$$*
/)%#$.&%6,)*%-$2)?.&%)(%/#$%'--'/.*/8 [6F3/.*4$3% 4.63'*+% 0$&.<$0% '--'1 '2,&'4./$08% [)2$% 3$*3)-<% '--'/./')*
A)2,&$/$%#$.&'*+%2.<%/.:$%N%7$$:39 /.*4<% .-$% &'3/$0% '*% ".F&$% N`1W8% _$1 2.<%F$%*)*'226*)&)+'4%4)*/.4/%6-/'1
7'/#%.%+))0%,-)+*)3'38N9GQ9GN &.<$0%.46/$%'--'/.*4<%'*%+$*$-.&%#.3%. 4.-'.8%[4-$$*'*+%-.7%'*+-$0'$*/3%)-%;1
O/#$-%()-23%)(%.46/$%'--'/.*/%-$.41 +))0%,-)+*)3'38GU9GQ9GN *.&% ()-26&./')*3% 7'/#% /#$% +6'*$.% ,'+
/')*% #.?$% F$$*% .&3)% 0$34-'F$0% @3$$ N8 ?$'7!"#1 #9+9-(&"8%1 C?@O% "#'3% '3% /#$ $.-% 37$&&'*+% /$3/% )-% /#$% #62.*% ()-$1
".F&$%N`1VC9%364#%.3%.'-F)-*$%4)*/.4/ 2)3/% (-$56$*/% /<,$% )(% 4)*/.4/% 0$-1 #$.0% .33.<% 2.<% .&&)7% )*$% /)% 2'*'1
0$-2./'/'3%-$36&/'*+%(-)2%$I,)36-$ 2./'/'3% $*4)6*/$-$0% '*% 4&'*'4.&% ,-.41 2'=$%36F14&'*'4.&%4)*/.4/%6-/'4.-'.8VU
/)% '--'/.*/% (62$3% )-% 063/3% @".F&$ /'4$8% H&3)% 4.&&$0% &'(9+"&%'(&"8%1 C?@9 `8 E7!%'/&$%+(&79)1 2)9L%'/&$%+(&79)51 "''"*
N`1NC8N9GN%L--'/.*/%4#$'&'/'3%2.<%-$36&/ 4626&./'?$%LA_%0$?$&),3%.3%.%-$36&/ &(&"7!O%"#'3%'3%.%3/./$%'*%7#'4#%/#$%'--'1
(-)2% &',% &'4:'*+% )-% 63$% )(% 4)32$/'43 )(% -$,$./$0% '*36&/3% /)% /#$% 3:'*9 /./')*% '3% *)/% ?'36.&&<% .,,.-$*/9% F6/% '3
.*0% 2$0'4./')*8% _'.,$-% 0$-2./'/'3 7#$-$%/#$%4#$2'4.&3%'*?)&?$0%.-$%)(1 #'3/)&)+'4.&&<%?'3'F&$8%A)22)*%3<2,1
.*0% ,$-'.*.&% 0$-2./'/'3% 2.<% F$% /#$ /$*% 26&/',&$% .*0% 7$.:% .*0% 7)6&0 /)23% '*4&60$% F6-*'*+9% '/4#'*+9% )-
-$36&/% )(% ,-)&)*+$0% )-% /))% (-$56$*/ *)/% '*% /#$23$&?$3%F$% 3/-)*+% $*)6+# 3/'*+'*+8% [6F1$-</#$2./)63% '--'/./')*
4)*/.4/%7'/#%6-'*$%)-%($4.&%-$3'06$38GN /)% 4.63$% '--'/.*/% 0$-2./'/'38GU9GQ9GN #.3%F$$*%&'*:$0%7'/#%/#$%63$%)(%4)*1
_$-2./'/'3% -$36&/'*+% (-)2% 3)0'62 "#$%2)3/%4)22)*%2.-+'*.&%'--'/.*/3 362$-%,-)064/3%4)*/.'*'*+%3'+*';4.*/
.='0$%-$&$.3$0%F<%.'-F.+%0$,&)<2$*/ '*4&60$%3).,9%0$/$-+$*/39%36-(.4/.*/39 .2)6*/3%)(%36-(.4/.*/8N9GQ
#.3%.&3)%F$$*%0$34-'F$09QT%4.63'*+%.* )-+.*'4% 3)&?$*/39% .*0% )'&39Q% 7#'4# !8 R'"#&"7!(-1 6%'+(&"&")O% S$4#.*'4.&% '--'/.1
.&:.&'*$%4#$2'4.&%F6-*Z%/#$%.44)2,.1 2.<%.&3)%.4/%.3%,$-,$/6./'*+%(.4/)-3 /')*% 4.*% -$36&/% (-)2% -$,$./$0% 2'4-)1
*<'*+%/.&4%,)70$-%2.<%.&3)%4)*/-'F1 )*4$% /#$% 0$-2./'/'3% #.3% F$4)2$% $31 /-.62.%.*0%(-'4/')*8%P',,&$%0$-2./'/'3
6/$%/)%/#$%0$-2./'/'38% /.F&'3#$08%A)32$/'4%4626&./'?$%LA_ '*% ,./'$*/3% 7'/#% '&&1;//'*+% F-.39% .*0
V8 @%-(/%61 (#9&%1 "''"&(!#/O% "#$% 0$&.<$0 '3%*)/%'*(-$56$*/%'*%7)2$*9%,.-/'461 0$-2./'/'3%(-)2%,-)3/#$/'4%&'2F39%2$1
'--'/.*/%-$.4/')*%'3%.46/$%F6/%7'/#)6/ &.-&<%'*%/#$%$<$&'038GN 4#.*'4.&% '*>6-<% (-)2% /#)-*3% .*0
?'3'F&$%3'+*3%)(%'*\.22./')*%.,,$.-1 L*'/'.&&<9% 4626&./'?$% 4)*/.4/% 0$-1 3,'*$3% '*% ,&.*/39% .0#$3'?$% /.,$9% )-
'*+%6*/'&%X%/)%QN%#)6-3%)-%2)-$%.(/$- 2./'/'3% 4.*% .,,$.-% 7'/#% '/4#9% ,.'*9 (-)2%#.*0&'*+%4).-3$%,.,$-9%+&.339%.*0
$I,)36-$8%O/#$-7'3$9%/#$%4&'*'4.&%.,1 .*0% .% ($7% &)4.&'=$0% ,./4#$3% )(% 0-< -)4:% 7))&% ;F$-% .-$% )*&<% 3)2$8GU9GN
,$.-.*4$% .*0% 4)6-3$% .-$% 3'2'&.-% /) 3:'*Z%/#$*%$-</#$2.9%#<,$-:$-./)3'39 "#'3%/<,$%)(%4)*/.4/%'--'/./')*%636.&&<
/#)3$% )(% .*% .46/$% LA_8N9GQ% "#$% 0$1 .*0%('336-'*+%4.*%0$?$&),8Q9N9GQ9GN%"#$ &$.03% /)% 0-<9% #<,$-:$-./)/'4% .F-.0$0
&.<$0% ,-$3$*/./')*% 2.<% 3'26&./$ 3<2,/)23% 0)% *)/% '22$0'./$&<% ()&1 3:'*9%2.:'*+%'/%2)-$%?6&*$-.F&$%/)%/#$
/#./%)(%.*%HA_9%3)2$/'2$3%2.:'*+ &)7%$I,)36-$%/)%/#$%'--'/.*/9%.,,$.-1 $(($4/3%)(%'--'/.*/38N
0'(($-$*/'./')*% )(% /#$% /7)% 0'3)-0$-3 '*+% .(/$-% 0.<39% 2)*/#39% )-% <$.-3% )( X8 3'(9+(&"#1'%(#&"7!)O%"-.62./'4%-$.4/')*3
0'(;46&/9% $?$*% 7'/#% ,./4#% /$3/'*+8 $I,)36-$8% Y'/#% $I/$*3'?$% .*0% (-$1 4.*%0$?$&),%.(/$-%.46/$%3:'*%/-.62.%.3
!@?
F6-*3% )-% &.4$-./')*3% .*0% 2)3/% 4)21 $-3% .-$% /#$% 2)3/% 4)22)*% '--'/.*/38 #./&'-()&
2)*&<% )446-3% )*% /#$% #.*03% .*0% ,$-1 E-$3$-?./'?$39%$3,$4'.&&<%56./$-*.-<%.21
0+EE()(%*+$H&0+$Q%2,+,&2E&6))+*$%*&
3'3/3%()-%.F)6/%`%7$$:3%)-%&)*+$-8%"#$ 2)*'62% 4)2,)6*039% #.?$% .*% '--'/.*/
C2%*$O*&0()#$*+*+,&?=$T2)&.PD(,@
#$.&'*+%,-)4$33%'*%/#'3%/<,$%)(%0$-2.1 $(($4/8%M))039%364#%.3%4'/-63%,$$&39%+.-&'49
/'/'3%'3%,-)&)*+$09%.*0%$-</#$2.9%34.&1 \)6-9% .*0% 3,'4$39% 4.*% .4/% .3% '--'/.*/38GN !"#$%&'()*+
'*+9% ,.,6&$39% )-% ?$3'4&$3% 4.*% .,,$.-8 A.,3.'4'*%,-)064$3%#.*0%'--'/./')*%.(/$- ,AO57<V8I
"#$% 4&'*'4.&% 4)6-3$% 4.*% -$3$2F&$% /#./ #.*0&'*+%#)/%,$,,$-3%.*0%'3%.&3)%,-$3$*/ q'#8CA==N8<O'I8=B54<4<J
)(%*6226&.-%0$-2./'/'38N9GQ '*% 3)2$% ,$-3)*.&% 0$($*3$% 3,-.<3% 63$0 q'#45J<J'I8=B54<4<J
T8 D9)&9-('1 7'1 (#!%".7'+1 '%(#&"7!)O% E63/6&.- F<% ,)&'4$% )-% F<% 4'?'&'.*38G% E'*$.,,&$ q'+4AH<O'8OV8B5
)-% .4*$'()-2% -$.4/')*3% .-$% 636.&&< >6'4$% 4)*/.'*3% F-)2$&.'*9% .*% '--'/./'*+ q'.<685
3$$*% .(/$-% )446,./')*.&% $I,)36-$3% /) ,-)/$)&</'4%$*=<2$8VQ q'+J4854AJ<J
)'&39%/.-39%#$.?<%2$/.&39%.*0%#.&)+$*3 O/#$-%,)/$*/'.&%'--'/.*/3%'*4&60$h%H*'1 !<JJ8B<6548I
F6/%.&3)%.(/$-%/#$%63$%)(%3)2$%4)32$/1 2.&% ,-)064/3% (-)2% 3$.())0% .*0% 2$./9 q'+4AH<O'8OV8B5
'438%"#$%,63/6&.-%&$3')*3%.-$%3/$-'&$%.*0 (-)2% 4./$-,'&&.-39% 4.-,$/% F$$/&$39% .*0 q'+J4854AJ<J
/-.*3'$*/% .*0% 2.<% 0$?$&),% % 3$?$-.& 2)/#3Z%/),'4.&%2$0'4.2$*/39%364#%.3%)41 q'+>4A8OV8B54<V54<A6
0.<3% .(/$-% $I,)36-$8% "#'3% /<,$% )( 4&63'?$% /-.*30$-2.&% 0-6+% 0$&'?$-<% 3<31 q'.<685'OA=HA=<J
0$-2./'/'3%'3%3$$*%$3,$4'.&&<%.2)*+ /$239%+$*/'.*%?')&$/9%/.-9%,)/.33'62%,$-1
./),'4%.*0%3$F)--#$'4%,./'$*/38N9T9GQ 2.*+.*./$9% 2$-46-<9% #$I.4#&)-),#$*$9 ,"-#'.)/
GU8 JS)"##(&"7!1%#T%+(&"6O1BI3'44./')*%$4=$1 $/48GNZ% 4)32$/'439% $3,$4'.&&<% 7#$*% .,1 ,AO57<V8I
2./'0% 636.&&<% )446-3% '*% $&0$-&<% ,.1 ,&'$0%/)%/#$%$<$&'03Z%.*0%.&:.&'39%,-$3$*/ q',<ON86'J<BH78S'ON=A6<O>J
/'$*/3%7#)%(-$56$*/&<%3#)7$-%7'/#)6/ '*% 3).,9% F&$.4#$39% 0$/$-+$*/39% )?$* q'28=H8J'J<BH78S
-$.,,&<'*+% 2)'3/6-'=$-3% /)% /#$'- 4&$.*3$-39% .*0% /)'&$/% F)7&% 4&$.*$-38G% M'1 q'28=H8J'VAJ48=
3:'*8% L*/$*3$% '/4#'*+9% 0-<% 3:'*9% .*0 F$-+&.33% 0$-2./'/'3% 4.*% 0$?$&),% (-)2 q'#48=A<I'5O68
'4#/#<)3'()-2% 34.&'*+% .-$% 4&'*'4.& 7$.-'*+%4&)/#$3%/#./%#.?$%F$$*%7.3#$0 q'%AJ5O85
($./6-$3% /#./% 4#.-.4/$-'=$% /#'3% '--'1 /)+$/#$-% 7'/#% ;F$-+&.3314)*/.2'*./$0 q'(5O4<4<57'I8=B54<4<J
/.*/%-$.4/')*8GQ 7)-:% 4&)/#$3% )-% 7'/#% ;F$-+&.33% 46-1 !<JJ8B<6548I
/.'*38VV% O/#$-% /$.-% +.3$39% p$8+89% Q14#&)1 q')JA=<5J<J
-)F$*=<&'0$*$% 2.&)*)*'/-'&$9% :*)7*% .3 q')A79BA=HNA>J'7<?N4'8=>H4<A6
1$**$-'"%%".+-.# @".F&$%
?F%@,$,,$-%3,-.<C%.*09%-.-$&<9%G14#&)-)1 q'->BB>75='8OV8B5
N`1`C q')5=5HJA=<5J<J
.4$/),#$*)*$9% :*)7*% .3% ?E% @S.4$Cq
Y./$-% '3% .% #<,)/)*'4% $&$2$*/% /#./% .4/3 .-$%,-$3$*/%'*%.%?.-'$/<%)(%3$&(10$($*3$%)- q',9B8'I<J85J8
.3% .% 4</)/)I'4% .+$*/% )*% $-)0$0% 3:'*8GN -')/14)*/-)&% 3,-.<3G% .*0% 4.63$% &.4-'2.1 q'!=>?'8=>H4<A6
f.-0%7./$-%#.3%F$$*%()6*0%/)%F$%2)-$ /')*9%3/$-*6/./')*9%.*09%)44.3')*.&&<9%461 q'#8OA6I5=9'J9HN<7<J
'--'/./'*+%/#.*% 3)(/%7./$-8VG%[:'*%4&$.*31 /.*$)63%'--'/./')*%.*0%3$*3'/'=./')*8
0*12+#%34*)%54$
$-3% 4.63$% '--'/./')*% 0$,$*0'*+% )*% /#$
,AO57<V8I
4#$2'3/-<%)(%/#$'-%4)*3/'/6$*/38%"#$<%-$1
!"+G-$#"# q'+778=?<O'OA645O4'I8=B54<4<J
2)?$% 36-(.4$% &','0% ;&29% 0$*./6-$% ,-)1
q'eAP86'I<J85J8
/$'*39% .*0% 0.2.+$% /#$% 4$&&% 2$2F-.*$8
[).,39%0$/$-+$*/39%.*0%7./$-&$33%4&$.*31 !<KK8=864<57'!<5?6AJ<J @c)I$3%N`1G !<JJ8B<6548I
.*0 N`1QC q'+778=?<O'OA645O4'I8=B54<4<J
q'#8OA6I5=9'J9HN<7<J
LA_% '3% )(/$*% 0'.+*)3$0% F<% $I4&60'*+ q'1>4568A>J'.@O877'79BHNAB5
!"#$%&'-(-
)/#$-% 4.63$3% ()-% /#$% 0$-2./'/'39% '*4&601
C$",(,&2E&6))+*$%*&C2%*$O*&0()#$*+*+,
'*+% HA_8Q% H% 0$/.'&$0% '*56'-<9% '*4&601 +I5H48I'K=AB'!86<?'-"Q'2AR8'+FQ'*5<C5ON'2";'"==<@
q +6<B57'H=AI>O4J '*+ )446,./')*.&9% -$4-$./')*.&% @#)FF'$3C9 4564'OA645O4'I8=B54<4<J;'17>8J'4A'O5>J8JQ'O7<6<O57'
q 1AJB84<OJ .*0%,.3/%2$0'4.&%#'3/)-'$39%.*0%.%2$/'41 ON5=5O48=<J4<OJQ'56I'OA64=A7;'"($4.-7;1B&;
q !8?=85J<6?'5?864J >I!DZaaQ'_[cQ'_Z_Y'ZaadY'56I'%<84JON87'%,D'17>8J'
6&)63%4&'*'4.&%$I.2'*./')*%.-$%'2,)-/.*/ 4A'56'5OO>=548'I<5?6AJ<J'AK'OA645O4'I8=B54<4<J;'5&-@
q !848=?864J ()-% 2.:'*+% /#$% 4)--$4/% 0'.+*)3'38% f'31 674('1F?&- >"D__3Q'_[[3;
q !>J4J]K=<O4<A6 /)-<% )(% $I,)36-$% /)% (-'4/')*9% 7$/% 7)-:9
q (AAIJ 3).,39%.*0%0$/$-+$*/3%)-%$I,)36-$%/)%)-1 )F>$4/'?$%($./6-$39%$.4#%7'/#%2.>)-%.*0
q ,AP'N>B<I<49 +.*'4%)-%.&:.&'*$%3)&?$*/3Z%.*0d)-%.*%$*1 2'*)-%;*0'*+3%()-%/#$%0'.+*)3'3%)(%LA_8
q *8457'PA=R<6?'h><IJ ?'-)*2$*/.&% -$&./'?$% #62'0'/<% )(% &$33 "#$%2)-$%($./6-$3%'0$*/';$09%/#$%3/-)*1
q .85='?5J8J /#.*%VW%,$-4$*/%.-$%:$<%(.4/)-3%/#./%36,1 +$-%/#$%4.3$%()-%LA_%@".F&$%N`1!C8
q .AH<O57'B8I<O5B864J ,)-/%.%0'.+*)3'3%)(%'--'/.*4<8VN%Y#$*%.* L*% /#$'-% -$?'$7% )(% ,-$12.-:$/% ,-$0'41
q #A7L864J .&&$-+'4% 4)2,)*$*/% '3% 4)*3'0$-$09% 0'.+1 /'?$% /$3/3% ()-% '--'/.*/39% c.3:$//$-% .*0
q F548=]P84'PA=R *)3/'4% ,./4#% /$3/'*+% 3#)6&0% F$% ,$-1 e'2F$-VW%4)*4&60$%/#./%$I4$,/%7#$-$%.,1
()-2$08Q`% H% F'),3<% )(/$*% 4.**)/% 0'(1 ,-),-'./$% #62.*% /$3/39% 364#% .3% /#$% N1
+I5H48I'K=AB'1A645O4'I8=B54<4<J'56I'I=>?'8=>H@ ($-$*/'./$% .&&$-+'49% '--'/.*/9% )-% ./),'4 #)6-% ,-),#$/'4% ,./4#% /$3/9% 4.*% F$% 4)*1
4<A6JQ'<6'A/;-&)$C159$&7$&$1(<14?&1D:9/; >'9/987'
5&-674('(.%;'Z[4N'8I<4<A6Q'8I<48I'C9':5B8J'F:Q' 0$-2./'/'39% F6/% 2.<% F$% #$&,(6&% '*% $I1 064/$09%3:'*%'--'/./')*%/$3/39%$3,$4'.&&<%'*
e8=?8='.GQ'&7J4A6'!*;')N<75I87HN<5Q'&7J8L<8='"6OQ' 4&60'*+% ,3)-'.3'39% '*% /#$% 4.3$% )(% ,.&2.- .*'2.&39%.-$%)(%)*&<%&'2'/$0%?.&6$%'*%/#$
_[[`Q'H'aZY'F<7R<6JA6'#*Q'e8OR'*2D'1A645O4'I8=@ '*?)&?$2$*/8% S$.36-'*+% /-.*31$,'0$-1 4#.-.4/$-'=./')*% )(% /#$% ,)/$*/'.&% $(($4/3
B54<4<JD'"==<4564Q'<6'E((:C$1F&G4*((:1(<15&-674('(.%; 2.&%7./$-%&)33%@"BYDC%4.*%'*0'4./$%F.-1 .33)4'./$0% 7'/#% .4/6.&% $I,)36-$% )(% #61
c4N'8I<4<A6Q'LA7'ZQ'8I<48I'C9'e>=6J'.'84'57;'$SKA=IQ'
e75ORP877')>C7<JN8=JQ'_[[3;'H'Za;ZY'56I'&6?7<JN' -'$-% '2,.'-2$*/% F6/% 4.**)/% 0'3/'*+6'3# 2.*3% /)% '--'/.*/38% L*% /#$% 4&'*'4.&% 3$//'*+
:#D'1>==864'OA6O8H4J'AK'<==<4564'OA645O4'I8=B54<4<J;' F$/7$$*%HA_%.*0%LA_8%a'$/34#$&%GG%#.3 /#$-$%'3%&':$&<%/)%F$%$I,)36-$%/)%26&/',&$
H88+,1!/39-(/1B&; 6>Dc__Q'`c3Q'_[[3; ,-),)3$0% 4-'/$-'.% 7'/#% 36F>$4/'?$% .*0 '--'/.*/38 !@@
#./&'-(* !"#$%&'-(0
0+EE()(%*+$H&0+$Q%2,+,&2E&6))+*$%*& 0+$Q%2,*+O&C)+*()+$&2E&6))+*$%*&C2%*$O*&0()#$*+*+,&
C2%*$O*&0()#$*+*+,&?C0U&:+*(&:D(O+FO@ =8V;7 =69;7
!"#$%&'()*+ MXFY(H1&Z(
(5O8 q $6J84'AK'J9BH4ABJ'P<4N<6'B<6>48J'4A'NA>=J' q $6J84'AK'I8=B54<4<J'P<4N<6'_'PR'AK'8SHAJ>=8
q'#8CA==N8<O'I8=B54<4<J AK'8SHAJ>=8 q *569'H8AH78'<6'4N8'86L<=A6B864'5KK8O48I'
q'+4AH<O'8OV8B5 q )5<6Q'C>=6<6?Q'J4<6?<6?Q'A='I<JOABKA=4' J<B<75=79
q'+778=?<O'1! 8SO88I<6?'<4ON<6?'85=79'<6'4N8'O7<6<O57'OA>=J8
256I PFY(H1&Z(
q'+4AH<O'8OV8B5 q *5O>75='8=94N8B5Q'N9H8=R8=54AJ<JQ'A='TJJ>=@ q #N5=H'O<=O>BJH8O4<A6'AK'4N8'I8=B54<4<J
q'+778=?<O'1! <6?'H=8IAB<654<6?'AL8='L8J<O>754<A6 q &L<I86O8'AK'?=5L<454<A657'<6h>86O8Q'J>ON'5J'
q'.<685'B56>>B q G75V8IQ'H5=ON8IQ'A='JO57I8I'5HH85=56O8'AK' I=<HH<6?'8KK8O4
q'!9JN<I=A4<O'I8=B54<4<J 4N8'8H<I8=B<J q ,5OR'AK'486I86O9'AK'4N8'I8=B54<4<J'4A'JH=85I
,"-#'.)/ q 2857<6?'H=AO8JJ'C8?<6J'H=ABH479'A6'P<4N@ q *A=HNA7A?<O'ON56?8J'J>??8J4<6?'JB577'OA6@
(5O8 I=5P57'AK'8SHAJ>=8'4A'4N8'AKK86I<6?'5?864 O864=54<A6'I<KK8=86O8J'A='OA645O4'4<B8'H=AI>O8'
q'+4AH<O'8OV8B5 q )54ON'48J4<6?'<J'68?54<L8 75=?8'I<KK8=86O8J'<6'JR<6'I5B5?8
q')NA4A5778=?<O'1!
+I5H48I'K=AB'%<84JON87'%,D'17>8J'4A'56'5OO>=548'I<5?6AJ<J'AK'OA645O4'I8=B54<4<J;'5&-674('1F?&- >"D__3Q'_[[3;
q'#9J48B<O'1!
q'#48=A<I'5O68 06-$3% #.?$% F$$*% 63$0% $I,$-'2$*/.&&<9 36-$% .-$% '2,)-/.*/% '*% /#$% 2.*.+$2$*/
q'28=H8J'J<BH78S 636.&&<%7'/#%'*0'?'06.&%4#$2'4.&39%7'/# )(% LA_8N% O*4$% 0$-2./'/'3% 0$?$&),39% 63$
q'28=H8J'VAJ48= /#$% -$36&/3% #.?'*+% &'2'/$0% .,,&'4.F'&'/<9 )(% /),'4.&% /-$./2$*/% '3% #$&,(6&8% "#$% -)&$
q'%AJ5O85 F6/% /#$<% 2.<% F$% )(% 3)2$% ?.&6$% '*% ,-$1 )(%/),'4.&%4)-/'4)3/$-)'03%'*%/#$%2.*.+$1
q')JA=<5J<J 0'4/'*+% /#-$3#)&03% )(% '--'/./')*8% O(% /#$ 2$*/% )(% LA_% '3% 4)*/-)?$-3'.&9% F6/% /#$<
256I F')$*+'*$$-'*+% 2$/#)03% 63$09% "BYD 2.<% F$% #$&,(6&% F$4.63$% )(% /#$'-% .*/'1
q')JA=<5J<J 2$.36-$2$*/% '3% /#$% 2)3/% (-$56$*/&< '*(&.22./)-<%$(($4/8N9V`%E-)&)*+$0%63$%)(
q'->BB>75='8OV8B5 63$0% ,-)4$06-$% /)% 56.*/'(<% '2,.'-$0 /),'4.&% 4)-/'4)3/$-)'03% 2.<% &$.0% /)% $,'1
q',<ON86'J<BH78S'ON=A6<O>J (6*4/')*3%)(%/#$%3/-./62%4)-*$628%A&'*'1 0$-2.&% ./-),#<% .*0% '*4-$.3$0% 3634$,/'1
0*12+#%34*)%54$ 4.&&<%'*?'3'F&$%36F/&$%0.2.+$9%364#%.3%F< F'&'/<%/)%'--'/.*/38%B2)&&'$*/3%)-%)44&63'?$
(5O8 0$/$-+$*/39% 4.*% F$% -$&'.F&<% 0$/$4/$0% F< 0-$33'*+3% 2.<% '2,-)?$% F.--'$-% -$,.'-
q'+778=?<O'1! .*%'*4-$.3$%'*%"BYD8 '*% 0-<9% &'4#$*';$0% 3:'*8N9GN% "-.0'/')*.&
q'#9J48B<O'1! ,$/-)&./621F.3$0%$2)&&'$*/3%.-$%.44$33'1
F&$9%'*$I,$*3'?$9%.*0%#.?$% F$$*% 3#)7*
q'+<=CA=68'1! )54ON'.8J4<6?
/)% F$% .3% $(($4/'?$% .3% $2)&&'$*/% 4)*/.'*1
q'!<=8O4]<6I<=8O4'1!
E./4#%/$3/'*+%'3%)(/$*%$33$*/'.&%/)%#$&,%0'31 '*+% 3:'*1-$&./$0% &','038V!% O/#$-% ]F.--'$-
q'&O4AH<O'1!
/'*+6'3#% HA_% (-)2% LA_% )-% /)% 0'.+*)3$ 4-$.23^% .-$% )(% &'2'/$0% ?.&6$8VX% "),'4.&
q')NA4AI8=B54<4<J
4)*4)2'/.*/% LA_% .*0% HA_8% P$+./'?$ 4.&4'*$6-'*% '*#'F'/)-3% @$8+89% ,'2$4-)&'1
256I
,./4#% /$3/3%2.<% (.?)-% .% 0'.+*)3'3% )(% LA_ 263C% 2.<% F$% 63$0% .3% .*% .&/$-*./'?$% /)
q'eAP86'I<J85J8
]F<% $I4&63')*^% )(% HA_8% H% 0'.+*)3'3% )( &)71,)/$*4<% /),'4.&% 4)-/'4)3/$-)'03% '*
q'!9JN<I=A4<O'I8=B54<4<J
HA_% 2.<% F$% 2'33$0% 7'/#% (.&3$1*$+./'?$ 4#-)*'4%LA_8VT
q')JA=<5J<J
,./4#% /$3/% -$36&/3% @3$$% A#.,38% GV% .*0 L*%3$?$-$%)-%4#-)*'4%4.3$39%,#)/)/#$-1
q'.<685'B56>>B
QGGC8GG9Q`% A)*?$-3$&<9% ,./4#% /$3/'*+% 7'/# .,<% @,3)-.&$*3% 7'/#% RlH% )-% RlcC% )-
+I5H48I'K=AB'!86<?'-"Q'2AR8'+FQ'*5<C5ON'2";'"==<@ )F?')63% '--'/.*/39% )-% *)*13/.*0.-0% 4#$2'1 3<3/$2'4% 0-6+39% 364#% .3% .=./#'),-'*$
4564'OA645O4'I8=B54<4<J;'17>8J'4A'O5>J8JQ'O7<6<O57' 4.&3% )-% 2'I/6-$3% 4.*% &$.0% /)% (.&3$1,)3'/'?$ .*0% 4<4&)3,)-'*$9% 2.<% F$% $(($4/'?$8GN9V`
ON5=5O48=<J4<OJQ'56I'OA64=A7;'"($4.-7;1B&; ,./4#% /$3/% -$36&/38% L--'/.*/% ,./4#% /$3/% -$.41 g-$*=%-.0')/#$-.,<%'3%.%,)/$*/'.&%/#'-01
>I!DZaaQ'_[cQ'_Z_Y'ZaadY'56I'%<84JON87'%,D'17>8J' /')*3% 2.<% ,-$3$*/% .3% $-</#$2.% 7'/#% )- &'*$% .0>6*4/'?$% /-$./2$*/8% c.4/$-'.&% 361
4A'56'5OO>=548'I<5?6AJ<J'AK'OA645O4'I8=B54<4<J;'5&-@
674('1F?&- >"D__3Q'_[[3; 7'/#)6/% ,.,6&$3% .*0% )(/$*% -$2.'*% 4)*1 ,$-'*($4/')*%4.*%F$%/-$./$0%7'/#%/),'4.&
;*$0%/)%/#$%/$3/%3'/$%.*0%.-$%3#.-,&<%0$2.-1 )-%3<3/$2'4%.*/'F')/'438GN%L*%3$*3)-<%'--'1
L*% .//$2,/3% /)% ,-$0'4/%'*0'?'06.&% 3631 4./$08%"#$3$%'--'/.*/%-$.4/')*3%.&3)%3#)7%. /./')*9%3/-)*/'62%3.&/3%.4/%F<%3$&$4/'?$&<
4$,/'F'&'/<%/)%'--'/.*/39%.%*62F$-%)(%/$3/3 0$4-$34$*0)%,.//$-*9%'*%7#'4#%.%0$4-$.3'*+ F&)4:'*+% /#$% .4/'?./')*% )(% 46/.*$)63
#.?$%F$$*%3/60'$09%'*4&60'*+%.&:.&'%-$3'31 3$?$-'/<%'3%3$$*9%.&/#)6+#%/#'3%'3%*)/%.&7.<3 /<,$%A%*)4'4$,/)-38GQ
/.*4$% 7'/#% 3)0'62% #<0-)I'0$9% .22)1 .%-$&'.F&$%'*0'4./)-8V9Q`%L--'/.*/%,./4#%/$3/%-$1
*'62% #<0-)I'0$9% 0'2$/#<&% 36&()I'0$9 .4/')*3%0)% *)/%$56./$%7'/#% LA_% F6/%)*&<
/#-$3#)&0% -$3,)*3$% /)% ?.-')63% '--'/.*/3 -$\$4/% /#$% '--'/./'*+% ,./4#% /$3/% 4)*4$*/-.1 )%&E&-."$-
@3)0'62% &.6-<&% 36&(./$9% *)*.*)'4% .4'09 /')*% )-% ,-)4$06-$8% L/% '3% '2,)-/.*/% /)% ,$-1 LA_%'3%.%-'3:%(.4/)-%()-%/#$%0$?$&),2$*/
F$*=.&:)*'62% 4#&)-'0$9% :$-)3$*$9% 4-)1 ()-2% 4)2,-$#$*3'?$% ,./4#% /$3/'*+% 7'/# )(%HA_%F$4.63$%/#$%'2,.'-$0%3:'*%F.--'$-
/)*% )'&9% .*0% .*/#-.&'*C9%&.4/'4%.4'0% 3/'*+1 /#$%.,,-),-'./$%36F3/.*4$3%.*0%4)*4$*/-.1 2.<%'*4-$.3$%/#$%,)/$*/'.&%()-%/#$%'*0641
'*+9%2'*'2.&%$-</#$2.%0)3$%7'/#%6&/-.1 /')*3%/)%,-$?$*/%'*4)--$4/%4)*4&63')*38GG /')*% .*0% $&'4'/./')*% )(% HA_8% "#639% /#$
?')&$/% c% @RlcC9% .*0% 2$.36-$2$*/% )( ,-$?$*/')*% )(% '--'/.*/% 0$-2./'/'3% 2$.*3
"BYD8% L*% /#$'-% -$?'$79% M-)34#% .*0 3'26&/.*$)63%,-$?$*/')*%)(%HA_8GU9NU
j)#*Q!% 4)*4&60$% /#./% *)*$% '3% 3)% 3'2,&$
.%&+.*&-. H&/#)6+#% F$#.?')-% ,.//$-*3% /#./% #.?$
.*0% -$&'.F&$% /#./% '/% 4.*% F$% 63$0% )*% . L0$*/';4./')*%.*0%$&'2'*./')*%)(%/#$%'--'1 F$4)2$% .% 2.//$-% )(% -)6/'*$% ()-% <$.-3NU
&.-+$% 34.&$8% H% *62F$-% )(% /#$3$% ,-)4$1 /.*/3% .*0% ,-)/$4/')*% (-)2% (6-/#$-% $I,)1 2.<%F$%0'(;46&/%/)%4#.*+$9%)*4$%.*%'--'/.*/
;II
#.3% F$$*% '0$*/';$0% .3% /#$% 4.63.&% (.4/)-9 `8 R[% _$,.-/2$*/% )(% D.F)-9% c6-$.6% )(
)%$G-$#"# D.F)-%[/./'3/'438%H##9,(&"7!(-1C!P9'"%)1(!6
,./'$*/3%3#)6&0%F$%$064./$0%.F)6/%'--'/.*/
"#$% ,-)+*)3'3% ()-% .46/$% LA_% '3% +))0% '( C--!%))%)O1 C!69)&'/1 @(&(Q1 NUUV8% a$/-'$?$0
.?)'0.*4$9% '*4&60'*+% $?$-<0.<% ,-.4/'4$3
H6+63/%GW9%QUU`9%(-)2%#//,hdd0./.8F&38+)?d
/#./%2.<%4.63$%)-%4)*/-'F6/$%/)%/#$%LA_8 /#$% 4.63./'?$% '--'/.*/% 4.*% F$% '0$*/';$0
4+'1F'*d36-?$<2)3/r''
"#$%63$%)(%,$-3)*.&%,-)/$4/'?$%$56',1 .*0%$&'2'*./$08%"#$%,-)+*)3'3%()-%46261 GU8 [2'/#%fa9%c.3:$//$-%_H9%S4M.00$*%jEh
2$*/9%$3,$4'.&&<%'*%#'+#1-'3:%>)F39%'3%?$-< &./'?$% )-% 4#-)*'4% '--'/.*/% 0$-2./'/'3% '3 L--'/.*/%0$-2./'/'39%'--'/.*4<%.*0%'/3%-)&$
'2,)-/.*/8% E-)/$4/'?$% +&)?$3% 3#)6&0% F$ +6.-0$0%.*0%2.<%F$%7)-3$%/#.*%/#./%)( '*% .&&$-+'4% 4)*/.4/% 0$-2./'/'38% ?-"!1 JS,
HA_8NG% H*% ./),'4% F.4:+-)6*09% &.4:% )( @%'+(&7- "(hGVX9%QUUQ
7)-*% ()-% .*<% 7$/% 7)-:8% f)7$?$-9% ,.1 GG8 a'$/34#$&%aDh%A&6$3%/)%.*%.446-./$%0'.+1
/'$*/3% 3#)6&0% .?)'0% 7$.-'*+% 7./$-,-))( :*)7&$0+$% .F)6/% /#$% 0'3$.3$9% .*0d)-% .
*)3'3% )(% 4)*/.4/% 0$-2./'/'38% @%'+(&7-
+&)?$3% ()-% &)*+% ,$-')03% )(% /'2$% /)% #$&, 0$&.<$0%0'.+*)3'3%.*0%/-$./2$*/%.-$%(.41 3$%' #(hQQN9%QUUN
-$064$% 37$./'*+8% L*% /#'3% 4.3$9% +&)?$3 /)-3%/#./%&$.0%/)%.%7)-3$%,-)+*)3'38GN%E$-1 QQ8 c.3:$//$-% _H% $/% .&h% L*0'?'06.&9% $/#*'4
3#)6&0% #.?$% .% (.F-'4% &'*'*+% )-% .&/$-*.1 3'3/$*/% ,)3/1)446,./')*.&% 0$-2./'/'3% #.3 .*0% 3$.3)*.&% ?.-'.F'&'/<% '*% '--'/.*/% 3631
F$$*%3$$*%'*%GG%,$-4$*/%)(%'*0'?'06.&38NQ 4$,/'F'&'/<%)(%3:'*h%"#$%'2,&'4./')*3%()-
/'?$&<9%/#'*%4)//)*%+&)?$3%4.*%F$%7)-*%'*1 .% ,-$0'4/'?$% #62.*% ,./4#% /$3/8% ?7!&(#&
3'0$%7./$-,-))(%+&)?$38V @%'+(&"&") &)hQUX9%GTT`
[6F3/'/6/')*% )(% &$33% '--'/./'*+% 36F1 Q!8 M-)34#% Ej9% j)#*% [Sh% A&'*'4.&% .3,$4/3% )(
3/.*4$39% 364#% .3% $2)&&'$*/3% .*0% 3).,
/&l'%&(&%&-1&# '--'/.*/% 4)*/.4/% 0$-2./'/'39% '*% ?7!&(#&
36F3/'/6/$39% 3#)6&0% F$% 63$0% -./#$-% /#.* @%'+(&"&")9% N/#% $0'/')*9% $0'/$0% F<% M-)3#
.N8'K>77'=8K8=86O8'7<J4'KA='577'ON5H48=J' Ej9%S$**s%"9%D$,)'//$?'*% j1E8%g$-2.*<9
3).,% 7#$*% 7.3#'*+8% S)'3/6-'=$-3% .-$
/#)6+#/%/)%'*4-$.3$%#<0-./')*%)-%,-$?$*/
<J'5L5<75C78'54'PPP;I<?Bc;OAB; [,-'*+$-1l$-&.+%c$-&'*%f$'0$&F$-+9%QUU`9
,%QWW
"BYD9%/#$-$F<%2.'*/.'*'*+%3:'*%F.--'$- Q8 ".<&)-% j[h% A)*/.4/% 0$-2./'/'3% .*0 VW8 c.3:$//$-% _9% e'2F$-% Lh% E-$0'4/'?$% /$3/3
(6*4/')*% .*0% -$064'*+% /#$% -'3:% )(% LA_8 -$&./$0%0'3)-0$-39% '*%4?D1K%6"#"!% ()-%'--'/.*/3%.*0%.&&$-+$*3%.*0% /#$'-% 63$
A.-$%3#)6&0%F$%/.:$*%()-%3$?$-.&%2)*/#3 H!-"!%8%QUUW%$0'/')*9%3$4/')*%Q9%$0'/$0 '*%56.*/'/./'?$%-'3:%.33$332$*/9%'*%?7!*
F<%_.&$%_A9%M$0$-2.*%__8%Y$FS_ &(#&1 @%'+(&"&")9% N/#% $0'/')*9% $0'/$0% F<
.(/$-% /#$% 0$-2./'/'3% #.3% #$.&$09% .3% /#$ L*48%a$/-'$?$0%S.<%QQ9%QUU`9%(-)2 M-)3#%Ej9%S$**s%"9%D$,)'//$?'*%j1E8%g$-1
3:'*%-$2.'*3%?6&*$-.F&$%/)%\.-$3%)(%0$-1 #//,hdd7778.4,2$0'4'*$84)2d4+'1F'*d 2.*<9% [,-'*+$-1l$-&.+% c$-&'*% f$'0$&1
2./'/'3%()-%.%,-)&)*+$0%,$-')08V9Q`9QX ,6F&'44+'8,&r&)+'*OE F$-+9%QUU`9%,%G!T
.*0%/#$%,-)()6*0%$(($4/%)(%/#$%$*?'-)*1
12+).&%'3c 2$*/%)*%34.&'*+9%.%3,$4';4%0'.+*)3'3%4.* "12.2l$#&#
F$% 4#.&&$*+'*+% '*% 4$-/.'*% ,./'$*/3% .*0
J2(-8H212[/O(O (.2'&'$38
['$2$*3% '*/-)064$0% +$*$/'4% 4)*4$,/3
+.'+'G,+-1&'
'*/)%/#$%'4#/#<)3$38Q
)N<7<H'(78ORB56 g$*$/'4%.,,-).4#$3%/)%6*0$-3/.*0'*+
:AN6':;'!<G<AL5665' /#$% '4#/#<)3$3% #.?$% -$?$.&$0% /#$% +$*$
0$($4/3%6*0$-&<'*+%2.*<%)(%/#$3$%+$*)1
0$-2./)3$38TJGG% H% *$7% 4&.33';4./')*% '3
"#$% '4#/#<)3$3% .-$% .% #$/$-)+$*$)63 $?)&?'*+% F.3$0% )*% /#$% 6*0$-&<'*+% 2)1
+-)6,%)(% 3:'*%0'3$.3$3%4#.-.4/$-'=$0% F< &$46&.-%.*0%+$*$/'4%F.3$3%)(%/#$3$%0'3)-1
+'N848=A?86A>J'?=A>H'AK'JR<6'I<J85J8J'
+$*$-.&'=$0% 34.&'*+8% [4.&'*+% -$\$4/3% .&1 0$-38% e*)7'*+% 7#'4#% +$*$% '3% 26/./$0
ON5=5O48=<V8I'C9'?868=57<V8I'JO57<6?'
/$-$0%0'(($-$*/'./')*%)(%/#$%$,'0$-2'38%L* 0'-$4/3%63%/)%/#$%6*0$-&<'*+%,./#),#<3'1
56IQ'AK486Q'5=85J'AK'4N<OR868I'JR<6;
/#'3%4#.,/$-9%/#$%/$-23%%,"6%'+(-16"..%'%!* )&)+'4% ,-)4$338% R*0$-3/.*0'*+% .*0% 0$1
&"(&"7!9 <%'(&"!"T(&"7!9%.*0%#7'!"W#(&"7!%7'&& 34-'F'*+% /#$3$% 0'3)-0$-3% )*% /#$% F.3'3% )( *AJ4'49H8J'5=8'<6N8=<48IQ'56I'4N8J8'>J>@
F$% 63$0% 3<*)*<2)63&<8% "#$% *.2$% "#$* 4)22)*% 2)&$46&.-% ,-)4$33$3% &$.0% /) 5779'H=8J864'54'C<=4N;'2AP8L8=Q'JAB8'
&$/7)")%'3%0$-'?$0%(-)2%/#$%g-$$:%"#$&$/)9 2)-$% -./')*.&% .,,-).4#$3% /)% 6*0$-1 KA=BJ'5=8'5O\><=8I;
2$.*'*+%];3#9^%.*0%-$($-3%/)%/#$%3'2'&.-1 3/.*0'*+% /#$'-% ,./#),#<3')&)+<% .*0 #O578J'B59'L5=9'<6'J<V8Q'OA7A=Q'56I'CAI9'J<48;
'/<% '*% .,,$.-.*4$% )(% /#$% 3:'*% /)% ;3# /-$./2$*/8% H% &'3/'*+% )(% /#$% 2)-$% 4)21
*59'C8'5OOABH56<8I'C9'8=94N8B5Q'
34.&$38% c)/#% '*#$-'/$0% .*0% .456'-$0 2)*%.*0%/#$%F$//$-%6*0$-3/))0%#$-$01 5C6A=B57<4<8J'<6'A4N8='H5=4J'AK'JR<6Q'56I'
()-23%.-$%()6*08%B.-&<%-$,)-/3%)(%'4#/#<1 '/.-<% '4#/#<)3$3% .44)-0'*+% /)% ,.//$-*
5I68S57'J4=>O4>=8J;
)3'3%'*%/#$%L*0'.*%.*0%A#'*$3$%&'/$-./6-$ )(% '*#$-'/.*4$% .*0% 4&'*'4.&% ($./6-$3% '3
0./$%F.4:%/)%3$?$-.&%#6*0-$0%<$.-3% c8A89 3#)7*% '*% ".F&$% N!1G8% g-)6,'*+% /#$3$ *59'C8'5JJAO<548I'P<4N'J9J48B<O'T6I@
.*0%/#$%4)*0'/')*%7.3%0'34633$0%F<%Y'&1 0'3)-0$-3% .44)-0'*+% /)% 6*0$-&<'*+% .F1 <6?JQ'J>ON'5J'K5<7>=8'4A'4N=<L8Q'<6O=85J8I'
&.*%'*%GXUX8G *)-2.&'/<%@".F&$%N!1QC%(.4'&'/./$3%6*0$-1 J>JO8H4<C<7<49'4A'<6K8O4<A6Q'54AH<O'I8=B54<@
L4#/#<)3'3%4.*%,-$3$*/%./%F'-/#%)-%0$1 3/.*0'*+% )(% /#$% 4&'*'4.&% ,#$*)/<,$3% '* 4<JQ'68>=AJ86JA=9'I85K68JJQ'68>=A7A?<O'
?$&),%&./$-% '*% &'($8% L/% 4.*%)446-%.3% .%0'31 /$-23% )(% 6*0$-&<'*+% 2$4#.*'328% f)71 56I'A4N8='I<J85J8;
$.3$%&'2'/$0%/)%/#$%3:'*%)-%'*%.33)4'./')* $?$-9%(6-/#$-%7)-:%'3%*$4$33.-<%/)%4&$.-&< )54NA7A?9'<J'>J>5779'6A6@JH8O<TO'P<4N'4N8'
7'/#% .F*)-2.&'/'$3% )(% )/#$-% )-+.*% 3<31 6*0$-3/.*0% #)7% /#$% +$*$% 26/./')*3 8SO8H4<A6'AK'8H<I8=BA794<O'N9H8=R8=54A@
/$238%H%*62F$-%)(%7$&&10$;*$0%/<,$3%)( .*0% -$36&/.*/% ,-)/$'*% 0'3-6,/')*3% -$36&/ J<JQ'68>4=57'7<H<I'J4A=5?8'I<J85J8Q'%8KJ>B'
'4#/#<)3'3% 7'/#% 4#.-.4/$-'3/'4% ($./6-$3 '*% 4&'*'4.&% 0'3$.3$9% .*09% (6-/#$-2)-$9 I<J85J8Q'56I'5O\><=8I'<ON4N9AJ<J'5JJAO<@
4.*%F$%-$&'.F&<%0'.+*)3$08%f)7$?$-9%F$1 #)7% /#$-.,$6/'4% '*/$-?$*/')*3% 4.*% F$ 548I'P<4N'J5=OA<IAJ<J;
4.63$%)(%/#$%+-$./%4&'*'4.&%#$/$-)+$*$'/< 4-$./'?$&<%0$?$&),$08
;I>
*%!&+*"+!(&,("-%*"+./0(*%,,"+"'$%/$%&'(/'*(1"+/$%'%2/$%&' !"#$%&'()
!"#$%&'0()
A($*")(,&2E&:(H(O*(-&6O/*/P2,(,
068J9;:6: ;9:5. C!878C.576:.6C&C<696C8<&A58.I75: 8::;C68.50&A58.I75: J595 47;.569 AI9C.6;9 :'69&!6:.;48.!;<;J3
AX1/O/*+,-O(*&'/*&3+31 5
"ON4N9AJ<J'L>7?5=<J' "6K56O9]ON<7INAAI (<68'A='O864=5779'45OR8I@IAP6' /8=54AJ<J'H<75=<JY'54AH9; IJK +CJ86O8'AK'T75??=<6 M6O8=45<6 29H8=R8=54AJ<JY'=8I>O8I'
W$*"*'sZ3`c[[X JO578'P<4N'J>H8=TO<57'TJJ>=<6?;' A='5CJ864'?=56>75='7598=;
%8754<L8'h8S>=57'JH5=<6?Y'PA=J8'A6'
7AP8='8S4=8B<4<8J;'29H8=7<685='
H57BJ]JA78J;
AX1/O/*+,-'/*&3+315
&2/'WC>77A>J'1"&Y' e<=4N 2848=A?868A>J;'*59'N5L8'L8==>@ (=8\>864'JR<6'<6K8O4<A6JY' LEFMQ LEFMNY'<6' /8=54<6'Z'A='Z[Y'<6' #4=>O4>=57'H=A48<6' 29H8=R8=54AJ<JY'L5O>A75='
$*"*'sZZbd[[X OA>JQ'T=BQ'N9H8=R8=54A4<O'WN9J4=<SX' ON5=5O48=<J4<O'H>6?864' Et=68='49H8'WOA6@ Et=68='49H8Q'R8=54<6'a 5C6A=B57<49'785I<6?'4A' I8?868=54<A6'AK'4N8'8H<@
JH<68JQ'AK486'7<685=79'5==598I'<6' AIA=; T68I'4A'H57BJ] R8=54<6'<648=B8I<548'T7@ I8=B57'?=56>75='W56I'AK486'
h8S>=57'O=85J8JY'C7<J48=JY'B59' JA78JX LEFO 5B864'I9JK>6O4<A6u I88H8=X'7598=Y'75=?8Q'<==8?@
N5L8'8=94N=AI8=B5'56I]A='H57@ 8H<I8=B57'K=5?<7<49 >75='R8=54AN957<6'?=56>78J;
B5=]H75645='R8=54AI8=B5;
"ON4N9AJ<J'C>77AJ5' e<=4N %8I68JJ'56I'C7<J48=<6?'54'C<=4N;' u LEFP /8=54<6'_Q'PN<ON'<J' +J'5CAL8'KA='&2/ 29H8=R8=54AJ<J'56I'8H<@
AK'#<8B86J' ,548='I8L87AH'N9H8=R8=54AJ<JQ' 8SH=8JJ8I'<6'J>H8=T@ I8=B57'L5O>A7<V54<A6Q'J<B@
W$*"*'sZ3`d[[X 5OO864>548I'AL8='h8S>=8J;' O<57'8H<I8=B<J <75='4A'&2/'C>4'OA6T68I'4A'
*5>J8=>6?'WBA74<6?XD'1A775=8448@ 4N8'>HH8='JH<6A>J'56I'
7<R8'78J<A6'PN8=8'>HH8=BAJ4'8H<@ ?=56>75='7598=;
I8=B<J'N5J'C886'7AJ4;
"ON4N9AJ<J'N9J4=<S'AK' e<=4N %8J8BC78J'&2/Q'L5=<8J'K=AB'H57@ u LEFMuB>454<A6 /8=54<6'Z +J'5CAL8'KA='&2/ MHH8='8H<I8=B57'R8=54<6A@
1>=4N'56I'*5OR7<6' B5=]H75645='R8=54AI8=B5'4A'?86@ <6'L5=<5C78'=8?<A6 O948J'N5L8'H8=<6>O785='
W$*"*'sZ3`^a[X 8=57<V8I;'.N<OR'fHA=O>H<68@7<R8g' L5O>A7<V54<A6]H8=<6>O785=
JH<68J;'-A'C7<J48=<6?; JN877J'AK'4A6AT75B864J;
+66>75='8H<I8=BA794<O' e<=4N]<6K56O9 #8L8=8Q'<648=B<44864'JO57<6?'P<4N' u LEFMQ LEFMN /8=54<6'Z'A='Z[ +J'5CAL8'KA='&2/ +J'5CAL8'KA='&2/;
8=94N8B5' +66>75='H75\>8J' C7<J48=J'A='H>J4>78J;'&LA7L8J'4A'
W$*"*'s`[c`[_X I8L87AH'7548= P<I8JH=85IQ'B<?=54A=9Q'566>75='
H75\>8J;
&=94N=AR8=54AI8=B<5'
L5=<5C<7<J
W$*"*'sZbb_[[X
G868=57<V8I'49H8' e<=4N G868=57<V8I'N9H8=R8=54AJ<J'56I' %8I'H54ON8J'BAL8'AL8='
T?>=548Q'B<?=54A=9'=8I'H54ON8J; B<6>48J'4A'NA>=JY'B59'
C8'4=<??8=8I'C9'ON56?8J' 29H8=R8=54AJ<JQ'5O564NA@
1A668S<6'bZ'A='b[;bY'
<6'48BH8=54>=8; J<JQ'H5H<77AB54AJ<JQ'O5H<7@
OA668S<6J'KA=B'?5H' +C6A=B57'<648=O877>75='
,AO57<V8I'49H8' K0=Q'A='K0=R 75=9'I<75454<A6Y'8H<I8=B<J'
E5=<5C78 ,AO57<V8I'N9H8=R8=54A4<O'H75\>8J' 29H8=R8=54A4<O'H75\>8J' U>6O4<A6'ON56687J' OABB>6<O54<A6
B59'N5L8'fON>=ON'JH<=8g'
P<4N'T?>=548Q'B<?=54A=9'=8I' B59'C8'<6I>O8I'C9' C84P886'O877J
5HH85=56O8;
H54ON8J; 4=5>B5;'1A6J<I8=5C78'
<64=5K5B<7<57'L5=<5C<7<49;
)=A?=8JJ<L8'J9BB84=<O' #NA=479'5K48='C<=4N &=94N8B54A>JQ'JO579'H75\>8JQ' u JHE ,A=<O=<6 1A=6<T8I'86L87AH8'KA=@ -A6@JH8O<TO;
8=94N=AR8=54AI8=B<5' J9BB84=<O5779'I<J4=<C>48I'AL8=' B54<A6
W$*"*'s`[_[b`X 8S4=8B<4<8JQ'C>44AORJQ'56I'K5O8Y'
J45C<7<V8'<6'85=79'ON<7INAAI;'.=>6R'
486IJ'4A'C8'JH5=8I;
/8=54<4<JQ'<ON4N9AJ<JQ' e<=4N]<6K56O9 )=A?=8JJ<L8'OA=6857'AH5O<TO54<A6Y' (A77<O>75='N9H8=R8=54A@ K0=PQ K0=S 1A668S<6J@_`Q'@b[Y' +C6A=B57'<648=O877>75=' -A6@JH8O<TO;
56I'I85K68JJ'J96@ 8<4N8='B<7I'?868=57<V8I'N9H8=R8=5@ J<JQ'JO5==<6?'57AH8O<5Q' OA668S<6J'KA=B'?5H' OABB>6<O54<A6
I=AB8Y'=8O8JJ<L8'N5J' 4AJ<J'A='I<JO=848'8=94N8B54A>J' I9J4=AHN<O'65<7JQ'J>J@ U>6O4<A6'ON56687J'
C886'=8HA=48I' H75\>8JQ'PN<ON'B59'C8'J9BB84@ O8H4<C<7<49'4A'<6K8O4<A6; C84P886'O877J
W$*"*'sZ3d_Z[X =<OY'68>=AJ86JA=9'I85K68JJ;
\<,&3N('
p@7<6R8I'=8O8JJ<L8' e<=4N]<6K56O9 (<68'4A'75=?8'JO578JY'OABB5@ 1=9H4A=ON<I<JBY'K8B578' DFD #48=A<I'J>7K545J8 ,<H<I'B845CA7<JBu 29H8=R8=54AJ<JQ'B59'N5L8'
<ON4N9AJ<J JN5H8I'OA=6857'AH5O<4<8J'A6' O5==<8=J'B59'N5L8'OA=@ 5C6A=B57'ONA78J48=A7' N9H8=?=56>7AJ<JY'6A6@
W$*"*'s[dZ[[X HAJ48=<A='O5HJ>78; 6857'AH5O<4<8J'56I'I8759' B845CA7<JB'P<4N'5OO>@ JH8O<TO;
AK'A6J84'A='H=A?=8JJ<A6' B>754<A6'AK'ONA78J48=A7'
AK'75CA='<6'5KK8O48I' J>7K548
H=8?656O<8J;
1NA6I=AI9JH75J<5 e<=4N *59'C8?<6'5J'8=94N=AI8=B5Q'7<6@ 1545=5O4JQ'I85K68JJ; AED! +=97J>7K545J8'& ,<H<I'B845CA7<JBu<77@ u
H>6O4545'p@7<6R8I' 85='A='PNA=78I'54=AHN<O'A='N9H8=@ I8T68ID'(5<7>=8'AK'
=8O8JJ<L8'W1!)pY' R8=54AJ<JQ'57AH8O<5Q'JR878457' N9I=A79J<J'AK'J>7K548'
$*"*'sb[_a^[X 5C6A=B57<4<8JQ'JNA=4'J454>=8; 8J48='CA6IJ
p@7<6R8I'IAB<6564' e<=4N 1"&'54'C<=4NQ'O785=J'56I'<J'=8H75O8I' $OO>=J'57BAJ4'8SO7>@ !=" &e)u57JA'R6AP6'5J' ,<H<I'B845CA7<JBu u
ONA6I=AI9JH75J<5 C9'7<685='N9H8=R8=54AJ<JQ'KA77<O>75=' J<L879'<6'K8B578JY'N5<=' b @N9I=AS9J48=A<I@ d@ HAJ4@J\>57868'ONA78J@
H>6O4545'W1A6=5I<@ 54=AHNAI8=B5'56I'H<?B8645=9' JN5K4'5C6A=B57<4<8JQ' c@<JAB8=5J8 48=A7'C<AJ964N8J<J
2v68=B566@25HH78' 5C6A=B57<4<8JY'J4<HH78I'O57O<TO5@ JNA=4'J454>=8Q'O545=5O4J;
J96I=AB8Y'1!)p_Y' 4<A6J'A6'=5I<A?=5HNJ;
$*"*'sb[_a`[X
12",!'J96I=AB8' e<=4N 1A6?86<457'N8B<I9JH75J<5Q' +7BAJ4'8SO7>J<L879'<6' TD5UJY !="'57JA' -#!2,'Wb' @N9I=AS9@ ,<H<I'B845CA7<JBu u
p@7<6R8I'IAB<6564' <ON4N9AJ<KA=B'8=94N=AI8=B5Q' K8B578J; =8HA=48I J48=A<I'I8N9I=A?86@ HAJ4@J\>57868'ONA78J@
W$*"*'sb[d[^[X 7<BC'I8K8O4J; 5J8XY'&e)'57JA' 48=A7'C<AJ964N8J<J
=8HA=48I
V8(/49/+&;W
$3"(%#3$35&!"! #3/-$"+(4)
*%!&+*"+!(&,("-%*"+./0(*%,,"+"'$%/$%&'(/'*(1"+/$%'%2/$%&' !"#$%&'()
!"#$%&'0()
A($*")(,&2E&:(H(O*(-&6O/*/P2,(,&?C2%*+%"(-@
068J9;:6: ;9:5. C!878C.576:.6C&C<696C8<&A58.I75: 8::;C68.50&A58.I75: J595 47;.569 AI9C.6;9 :'69&!6:.;48.!;<;J3
AX1/O/*+,-)(H(OO&Z(
+%1"
+%1"]," e<=4NY'AK486'OA77A@ ,5=?8Q'H7548@7<R8Q'C=AP6'JO578' 2854'<64A78=56O8; E5=<A>J'WJ88'.5C78' E5=<A>J'WJ88'.5C78' E5=<A>J'WJ88'.5C78' 29H8=R8=54AJ<JQ'5O564NA@
I<A6'H=8J86454<A6 AL8='BAJ4'AK'4N8'CAI9Y'5OO864>@ 3c@bX 3c@bX 3c@bX J<JQ'B59'JNAP'H5=5R8=54A@
548I'A6'7AP8='8S4=8B<4<8J;'&O4=A@ J<J;'-A6@JH8O<TO;
H<A6Y'8O75C<>BY'57AH8O<5;')57B5=]'
H75645='<6LA7L8B864'L5=<8J;
+%1"]1"& e<=4NY'AK486'OA77A@ (<68Q'PN<48'JO578Y'?868=57<V8I' 2854'<64A78=56O8; E5=<A>J'WJ88'.5C78' E5=<A>J'WJ88'.5C78' E5=<A>J'WJ88'.5C78' 29H8=R8=54AJ<JQ'5O564NA@
I<A6'H=8J86454<A6 8=94N=AI8=B5;')57B5=]H75645=' 3c@bX 3c@bX 3c@bX J<JQ'B59'JNAP'H5=5R8=54A@
<6LA7L8B864'L5=<8J; J<J;'-A6@JH8O<TO;
+%1"]AL8=75H e<=4NY'AK486'OA77A@ E5=<8J'C84P886'f75B8775=g'56I' 2854'<64A78=56O8; E5=<A>J'WJ88'.5C78' E5=<A>J'WJ88'.5C78' E5=<A>J'WJ88'.5C78' 29H8=R8=54AJ<JQ'5O564NA@
I<A6'H=8J86454<A6 f1"&;g'1A6J<I8=5C78'AL8=75H'B59' 3c@bX 3c@bX 3c@bX J<JQ'B59'JNAP'H5=5R8=54A@
8S<J4; J<J;'-A6@JH8O<TO;
25=78\><6'<ON4N9AJ<J' e<=4N *5=R8I79'4N<OR868I'JR<6'P<4N' %8J4=<O48I'=8JH<=54<A6Q' A=>AMP +.)@C<6I<6?'O5JJ8448Q' ,<H<I'B845CA7<JBu *5JJ<L879'4N<OR868IQ'
W$*"*'s_3_^[[X ?8AB84=<OQ'I88H'TJJ>=8J;'#>=L<@ HAA='K88I<6?Y'68A65457' J>CK5B<79'+Q'B8BC8=' B8BC=568'4=56JHA=4Q' A=4NAR8=54A4<O'J4=54>B'
LA=J'I8L87AH'J8L8=8'1"&'HN86A@ J8HJ<JY'AK486'785IJ'4A' Z_ 5C6A=B57<49'AK'7<H<I' OA=68>BY'L5=<5C78'5O56@
49H8; 68A65457'I854N;'(5<7>=8' B845CA7<JB 4NAJ<JY'?=56>75='7598='L5=<@
4A'4N=<L8; 5C79'I8O=85J8I;
-84N8=4A6'J96I=AB8' e<=4N "ON4N9AJ<J'7<685=<J'O<=O>Bh8S5'A=' +4AH9Y'N<?N'J8=>B'78L87J' D"2TL@X ,&/."'W5'J8=<68'H=A@ )=A48<6'B845CA7<JBu -A6@JH8O<TO;
W$*"*'s_^`^[[X J<B<75='4A'1"&Y'4=<ONA==N8S<J'<6L5?<@ AK'<BB>6A?7AC>7<6'&Y' 485J8'<6N<C<4A=X B59'=8J>74'<6'H=8B5@
6545; B59'N5L8'5B<6A5O<I>@ 4>=8'I8JBAJAB57'I8?@
=<5Y'K5<7>=8'4A'4N=<L8; =5I54<A6'<6'J4=54>B'
OA=68>B
#Ut?=86@,5=JJA6 "ON4N9AJ<J'5HH5=@ G868=57<V8I'T68'JO578'4A'OA5=J8' #NA=4'J454>=8Q'J8<V>=8J; IAJ5U'WAJ5UMNQ (5449'57I8N9I8'I8N9@ ,<H<I'B845CA7<JBu -A6@JH8O<TO;
J96I=AB8 864'54'C<=4N N9H8=R8=54AJ<JY'JH5J4<O'I<H78?<5Y' AJ5UQAP X I=A?865J8 K5449'57I8N9I8'B845C@
W$*"*'s_c[_[[X B86457'=845=I54<A6Y'=84<657'?7<J486@ A7<JB
<6?'PN<48'IA4J;
%8KJ>B'I<J85J8' "ON4N9AJ<J'I8L87@ )=A?=8JJ<L8'68>=A7A?<O'I9JK>6O@ &78L548I'H75JB5'HN9@ *AJ4 "AUYY "!YZ )N9456A97@1A+ )8=AS<JAB8'5C6A=B57@ ,<H<I@OA645<6<6?'L5O>A78J'
W$*"*'s_``^[[X AHJ'<6'5I>74NAAI 4<A6Y'JR878457Q'O5=I<5OQ'56I'=8657' 456<O'5O<I; 57JA'=8HA=48I'WJ88' N9I=AS975J8 <49uI8TO<86O9'AK' <6'C5J57'R8=54<6AO948J;
5C6A=B57<4<8J;'%84<6<4<J'H<?B86@ %1!)'C87APX' HN9456<O'5O<I'O545CA@
4AJ5; 7<JBY'=8J>74J'<6'HN9@
456<O'5O<I'
5OO>B>754<A6
%1!) e<=4N !P5=TJBQ'J4<HH78I'O5=4<75?8'O57O<@ ,AP'78L87J'AK'=8I'O877' "!YZ )8=AS<6'c'WH8=AS<JAB57' )8=AS<JAB8'5C6A=B57@ u
W$*"*'s_Z^Z[[X TO54<A6JQ'UA<64'OA64=5O4>=8JQ'O545@ H75JB57A?86JY'5OO>B>@ H=A48<6X <49uK5<7>=8'AK'=8O8H4A='
=5O4JQ'<ON4N9AJ<JQ'B86457' 754<A6'AK'HN9456<O'5O<I; 45=?84<6?'86V9B8J'4A'
=845=I54<A6; H8=AS<JAB8J
.=<ONA4N<AI9J4=AHN9' #AB8'N5L8'<ON@ ==<4478'N5<=Q', NA4AJ86J<4<L<49Q'$NA=4 +C6A=B5779'7AP'J>7K>=' *5UA=<49'N5L8' *AJ4'p)!;'p)eQ'..!+Q' 1ABHA6864J'AK'4=56J@ .<?8=@45<7'C56I<6?'AK'N5<='
w.59'J96I=AB8Y' 4N9AJ<JQ'PN<ON' J454>=8Q'9ON4N9AJ<JQ'9648778O4>57 OA64864'AK'N5<=; I8K8O4'<6'!E>>P A='..!-Z'<6'5'K8P O=<H4<A6'K5O4A='.(""2 JN5K4J'>6I8='HA75=<V<6?'
"2=2V5WDQ 2=2V5WDQ B59'C8'5HH5=864' <BH5<=B864Q'B<O=AO8HN579Q'=8O>=@ Wp)!X;'+'K8P'N5L8' B<O=AJOAH9Y'N5<='JN5K4'
=2V5WDWY'$*"*' 54'C<=4NY'B59'N5L8' =864'<6K8O4<A6J; B>454<A6J'<6'!E>>Q 5C6A=B57<4<8J'W4=<ONAJON<@
s_cdcb[Q's`[Z`c^Q' OA77AI<A6'H=8J86@ Wp)eXQ'KFIPUX J<JQ'4=<ONA==N8S<J'6AIAJ5@
s_b3[^[x 454<A6 W..!+XQ'A='FF5TM 7<R8'K=59<6?Y'=<CCA6<6?X;
1N565=<6@!A=KB56'J96@ e<=4NY'B59'C8'OA7@ G868=57<V8I'JO57<6?Q'=8J8BC78J' #8L8=8'H=>=<4>JY'68>=A@ >K2@X[ M6R6AP6 ,<H<I'B845CA7<JBu ,<H<I'I=AH784J'<6'I8=B57'
I=AB8'W68>4=57'7<H<I' 7AI<A6 1"&Y'L5=<5C78'8S4=5@O>4568A>J' 7A?<O'5C6A=B57<4<8JY' 5O4<L548J'5I<HAJ8@ 56I'8H<I8=B57'O877JQ'56I'
J4A=5?8'I<J85J8Y' <6LA7L8B864D'O545=5O4JQ'I8O=85J8I' N8H54<O'5C6A=B57<4<8JY' 4=<?79O8=<I8'7<H5J8'KA=' 5O=AJ9=<6?<5'AK'8OO=<68'
$*"*'s_c^`b[X N85=<6?Q'HJ9ONABA4A='I8759; 7<H<I'I=AH784J'<6'O<=O>754@ 7<HA79J<J'AK'4=<?79O8=@ I>O4J;
<6?'78>RAO948J; <I8J
*>74<H78'J>7K545J8' e<=4N "ON4N9AJ<J'=8J8BC7<6?'p@7<6R8I' -8>=A7A?<O'I848=<A=54<A6Y' D#BIM 1 @KA=B97?79O<68'?86@ G868=548J'O545794<O' -A6@JH8O<TO;
I8TO<86O9 =8O8JJ<L8; JR878457'5C6A=B57<4<8JY' 8=54<6?'86V9B8 =8J<I>8'<6'5O4<L8'J<48'
W$*"*'s_c__[[X K5O<57'I9JBA=HN<JB; AK'8>R5=9A4<O'J>7K5@
45J8J
)887<6?'JR<6'J96I=AB8
.9H8'+' e<=4N G868=57<V8I'H887<6?'<6'J>H8=TO<57Q' u M6R6AP6 M6R6AP6 M6R6AP6 "64=5O877>75='JH7<4'P<4N<6'
W6A6<6h5BB54A=9Y' 4N<6'h5R8J; OA=68AO948J'<6'J4=54>B'
$*"*'s_c[b[[X OA=68>B;
.9H8'+u5O=57' e<=4N ,<B<48I'4A'AL8='N56IJ'56I'K884; u FKBX .=56J?7>45B<65J8'^ )=A48<6'O=AJJ@7<6R<6? -A6@JH8O<TO;
L5=<564
W$*"*'s`[aca`X
.9H8'e'W<6h5BB5@ e<=4N )=8J864J'5J'1"&Y'8LA7L8J'4A'B<?=5@ )=>=<4>JQ'878L548I'<BB>@ M6R6AP6 M6R6AP6 M6R6AP6 "648=O877>75='JH7<4'C84P886'
4A=9X 4A=9Q'JO57<6?'H54ON8J; 6A?7AC>7<6'&Q'5B<6A5O<@ J4=54>B'OA=68>B'56I'
I>=<5Q'JNA=4'J454>=8; ?=56>75='7598=Y'C84P886'
R8=54<6AO948J;
$3"(%#3$35&!"! #3/-$"+(4)
7'/#)6/%34.&$9%/#./%-$\$4/3%/#'4:$*'*+%)(
!"#$%&'0(*
/#$%3/-./62%4)-*$628%%H%(.2'&<%,$0'+-$$
6O/*/P2,(,&;)Q$%+W(-&1P&4$*/2D/P,+2H2QP
2.<% 4&.-'(<% /#$% ,.//$-*% )(% '*#$-'/.*4$8
06:;7057 47;.569MAI9C.6;9&8L9;7=8<6.3 "#$% ,-$3$*4$% )(% ,.-$*/.&% 4)*3.*+6'*'/<
#4=>O4>=57')=A48<6J 2.<%36++$3/%.6/)3)2.&%-$4$33'?$%'*#$-'1
q "ON4N9AJ<J'L>7?5=<J (<75??=<6 /.*4$8%%f)7$?$-9%2.*<%.6/)3)2.&%0)21
q 194AJR8784A6 '*.*/% 0'3$.3$3% @$8+89% $,'0$-2)&</'4% #<1
q &H<I8=BA794<O'N9H8=R8=54AJ<J ,$-:$-./)3'3C% #.?$% .% #'+#% (-$56$*4<% )(
q )57B5=]H75645='R8=54AI8=B55 3,)*/.*$)63%26/./')*9%.*0%/#$%&.4:%)(%.
q "ON4N9AJ<J'C>77AJ5'AK'#<8B56J ,)3'/'?$%(.2'&<%#'3/)-<%0)$3%*)/%-6&$%)6/
q +66>75='8H<I8=BA794<O'<ON4N9AJ<J /8=54<6J .6/)3)2.&% 0)2'*.*/% '*#$-'/.*4$8% D'+#/
q "ON4N9AJ<J'N9J4=<S 2'4-)34),'4% ($./6-$3% .-$% 636.&&<% 0'.+1
q )57B5=]H75645='8H<I8=BA794<O'N9H8=R8=54AJ<J5 *)3/'4% '*% $,'0$-2)&</'4% #<,$-:$-./)3$3
.*0% 4.*% F$% #$&,(6&% '*% 3$&$4/$0% '4#/#<1
q )5ON9A69ON<5'OA6?86<455
)3$3% @$8+89% a$(362% 0'3$.3$9% *$6/-.&% &','0
q 1A=6<T8I'86L87AH8'KA=B54<A6
3/)-.+$% 0'3$.3$9% .456'-$0% '4#/#<)3'3% )(
q +%1"]75B8775='<ON4N9AJ<J .=56J?7>45B<65J8'Z
3.-4)'0)3'3C9%F6/%#'3/),./#)&)+'4%$I.2'1
q )=A?=8JJ<L8'J9BB84=<O'8=94N=AR8=54AI8=B<5
*./')*%2.<%*)/%F$%63$(6&%/)%0'3/'*+6'3#
q *>4<754<6?'R8=54AI8=B5'P<4N'<ON4N9AJ<J5
,A=<O=<6 )/#$-% '4#/#<)3$38% L*% 2.*<% 4.3$39% /#$
W7A=<O=<6'R8=54AI8=B5Q'EANP<6R87'J96I=AB8'
4&'*'4.&%0'.+*)3'3%2.<%F$%4&.-';$0%F<%+$1
P<4NA>4'I85K68JJX
*$/'4%.*.&<3'38%"#$%0$?$&),2$*/%)(%'4#1
,<H<I'*845CA7<JB
/#<)3'3% '*% .06&/#))0% 2.<% F$% .% 2.-:$-
q +%1" Z_@%'7<HAS9?865J8'H54NP59
)(%3<3/$2'4%0'3$.3$8
q 1N565=<6@!A=KB56'J96I=AB8 (>6O4<A6'>6R6AP6
q 12",!'J96I=AB8 #48=A<I'I8N9I=A?865J8
#48=A7'<JAB8=5J8 &."$,$Gl'+-!')+.2$G&-&#"#
q 1A6=5I<@2v68=B566@25HH78'J96I=AB8 #48=A7'<JAB8=5J8 "#$% (6&&<% 0'(($-$*/'./$0% $*0% ,-)064/% )(
q %8KJ>B'I<J85J8 )N9456<O'5O<I'O545CA7<JB /#$% $,'0$-2'3% '3% /#$% 3/-./62% 4)-*$629
q #Ut?=86@,5=JJA6'J96I=AB8 (5449'57OANA7'B845CA7<JB 7#'4#%'3%4)2,)3$0%)(%/$-2'*.&&<%0'(($-1
q p@7<6R8I'=8O8JJ<L8'<ON4N9AJ<J #48=A<I'J>7K545J8 $*/'./$0% :$-./'*)4</$39% 4)-*$)4</$3
"648=O877>75='1ABB>6<O54<A6 @]F-'4:3^C9%36--)6*0$0%F<%.*%'*/$-4$&&6&.-
q &=94N=AR8=54AI8=B<5'L5=<5C<7<J 2./-'I% @]2)-/.-^C% @3$$% A#.,8% NWC8% "#$
q /8=54<4<JQ'<ON4N9AJ<JQ'I85K68JJ'J96I=AB8 4)-*$)4</$% F-'4:3% .-$% ,-)/$'*1$*-'4#$09
G5H'U>6O4<A6'H=A48<6JD1>(//&G9/$
q EANP<6R87'J96I=AB8'WO75JJ<OX .*0%/#$%'*/$-4$&&6&.-%2)-/.-%'3%4)2,)3$0
q ))/'P<4N'I85K68JJ5 )(% #<0-),#)F'49% &','01$*-'4#$0% 2$21
)=A48<6'*845CA7<JB F-.*$% F'&.<$-38X% "#$% :$-./'*1&.0$*% 4)-1
q -84N8=4A6'J96I=AB8 )=A485J8'<6N<C<4A= *$)4</$3%.-$%/#)6+#/%/)%F$%,-'2.-'&<%-$1
q )5H<77A6@,8KyL=8'J96I=AB85 )=A485J8 3,)*3'F&$% ()-% /#$% -$3'&'$*4$% .*0% 7./$-
157O<>B'2AB8AJ45J<JC -$/$*/')*% ,-),$-/'$3% )(% /#$% 3/-./62% 4)-1
q !5=<8='I<J85J8 *$629% 7#'&$% /#$% 2./-'I% ()-23% 2)3/% )(
15_z@I8H86I864'+.)5J8
q 25<789@25<789'I<J85J8 /#$% ,$-2$.F'&'/<% F.--'$-% /)% 7./$-% &)338
->O78A4<I8'8SO<J<A6'=8H5<=]4=56JO=<H4<A6 "#$% *)-2.&% 3/-./62% 4)-*$62% 6*0$-1
q .=<ONA4N<AI9J4=AHN9 .=56JO=<H4<A6 +)$3%0$356.2./')*%'*%.*%)-+.*'=$0%.*0
+%1"'i'5>4AJAB57'=8O8JJ<L8'OA6?86<457'<ON4N9AJ<JY'+.)5J8'i'5I86AJ<68'4=<HNAJHN545J8Y'12",!'J96I=AB8'i' '*?'3'F&$% 2.**$-9% 7'/#% '*0'?'06.&% 4)-1
8 A6?86<457 ?8B<I9JH75J<5'P<4N'9ON4N9AJ<KA=B'8=94N=AI8=B5'56I''<BC ;8K8O4J'J96I=AB8Y'))/'i'H57BAH75645=' *$)4</$3% 3$,.-./'*+% (-)2% $.4#% )/#$-
R8=54AI8=B5;' .*0%3#$00'*+%.3%3'*+&$%4$&&38%L4#/#<)/'4
5!<JO>JJ8I'<6'1N5H;'3d;
C!<JO>JJ8I'<6'1N5H;'3a;
3:'*%#.3%.*%.F*)-2.&%56.&'/<%.*0%56.*1
/'/<%)(%34.&$9%/#$%F.--'$-%(6*4/')*%)(%/#$
3/-./62% 4)-*$62% '3%4)2,-)2'3$09% .*0
O*&'*$%S$*0$&'.*%L*#$-'/.*4$%'*%S.* $-</#-)0$-2.9% .F*)-2.&'/'$3% '*% )/#$- /#$-$%2.<%F$%.&/$-./')*3%'*%/#$%:'*$/'43
@OSLSC9GQ% .% 4./.&)+% )(% #62.*% +$*$3 ,.-/3% )(% /#$% 3:'*% @$8+89% ,.&23% .*0% 3)&$39 )(% $,'0$-2.&% 4$&&% ,-)&'($-./')*% @3$$
.*0% +$*$/'4% 0'3)-0$-39% '3% .% 63$(6&% -$($-1 $4/-),')*9%$4&.F'62C%.*0%.0*$I.&% 3/-641 A#.,8% NNC8% "#$% 3/-./62% 4)-*$62% 4.*
$*4$%7'/#%&'*:3%/)%.00'/')*.&%-$3)6-4$38 /6-$3%@$8+89%.&),$4'.9%#.'-%()&&'4&$%)-%3#.(/ F$% ?'$7$0% .3% .% 4)2,.-/2$*/9% 7'/#
.F*)-2.&'/<C9%.*0%'*?)&?$2$*/%)(%)/#$- /#'4:$*'*+%)(%/#$%3/-./62%4)-*$62%F$1
)-+.*%3<3/$238%L*%0'(($-$*/%/<,$3%)(%'4#1 '*+%/#$%-$36&/%)(%4$&&3%$*/$-'*+%/#$%4)21
1,"-"1+,')%&#&-.+."$- /#<)3'39%/#$%.,,$.-.*4$%)(%/#$%36-(.4$%)( ,.-/2$*/%./%.*%'*4-$.3$0%-./$9%)-%&$.?'*+
H% 3,$4';4% 0'.+*)3'3% '*% .*% '*0'?'06.&% )- /#$% 3:'*% 2.<% ?.-<8% l'3'F&$% 34.&'*+% @3$$ @4)-*$)4</$% 0$356.2./')*C% /))% 3&)7&<9
(.2'&<% 7'/#% '4#/#<)3'3% 4.*%#$&,% /)% ,-$1 A#.,/$-% NC% 2.<% F$% 3$$*% '*% 3)2$% ,.1 )-%F)/#8%
0'4/% ,-)+*)3'3% .*0% '3% '2,)-/.*/% ()-% +$1 /'$*/39% 7'/#% \.:$3% )(% 3/-./62% 4)-*$62 "#$% ,-)4$33% )(% $,'0$-2.&% 0'(($-$*/'.1
*$/'4% 4)6*3$&'*+8% [$?$-.&% ($./6-$3% .-$ ?.-<'*+% '*% 3'=$% (-)2% ;*$% /)% 4).-3$8 /')*% '3% 4)2,&$I% .*0% *)/% 4)2,&$/$&<% 6*1
63$(6&%'*%0'3/'*+6'3#'*+%0'(($-$*/%()-23%)( "#$-$% 2.<% .&3)% F$% .% /#'4:$*'*+% )(% /#$ 0$-3/))08% _$($4/3% '*% 2.*<% 0'(($-$*/% .31
'4#/#<)3'38%"#$3$%'*4&60$%/#$%.+$%)(%)*3$/9 3:'*% 7'/#% )-% 7'/#)6/% ?'3'F&$% 34.&$8% "#$ ,$4/3%.*0%3/$,3%)(%/#'3%,-)4$33%4.*%&$.0%/)
,-$3$*4$%)(%4)&&)0')*%2$2F-.*$%./%F'-/#9 /$-2 $/,%'<%'(&7)")% #.3% F$$*% 63$0% 4&'*'1 .% 3'2'&.-% $*0% -$36&/h% .F*)-2.&% 3/-./62
56.&'/<% )(% 34.&$9% ,-$3$*4$d.F3$*4$% )( 4.&&<%/)%0$34-'F$%/#'4:$*$0%3:'*9%7'/#%)- 4)-*$62%.*0%34.&$8%L*%3)2$%)(%/#$3$%0'31
;I6
)-0$-39% /#$% 6*0$-&<'*+% .F*)-2.&'/<% #.3
F$$*% '0$*/';$08% M)-% $I.2,&$9% 26/./')*3
'*% /#$% +$*$3% /#./% $*4)0$% /#$% 36,-.F.3.&
$,'0$-2.&% :$-./'*39% :$-./'*31G% .*0% 1GU9
4.63$% $,'0$-2)&</'4% #<,$-:$-./)3'38GV
S6/./')*3% '*% /#$% +$*$% $*4)0'*+% /-.*31
+&6/.2'*.3$%G9%.*%$*=<2$%/#./%4./.&<=$3 78.9:$-;"<> "ON4N9AJ<J'L>7@
/#$% 4-)331&'*:'*+% )(% ,-)/$'*3% .*0% .//.4#1 ?5=<J;'(>77'H=8J86454<A6'AK'<ON4N9@
2$*/%)(%4$-.2'0$3%06-'*+%/#$%()-2./')* AJ<J' L>7?5=<J' <6' <6I<L<I>57J' P<4N
)(%4)-*$)4</$39%4.63$%&.2$&&.-%'4#/#<)3'39 B>454<A6J' <6' CA4N' H=AT75??=<6
)*$%()-2%)(%.6/)3)2.&%-$4$33'?$%4)*+$*1 ?868J'WAQ DQ $XY'B<7I8='H=8J86@
'/.&% '4#/#<)3'3% @HaALC8GNJG`% "#$% )F3$-?.1 454<A6' <6' 56' <6I<L<I>57' P<4N' 5
/')*%/#./%:$<%4)2,)*$*/3%)(%/#'3%,-)4$33
H=AT75??=<6'B>454<A6'<6'5'J<6?78
4.63$%'4#/#<)3'()-2%0'3)-0$-3%#'+#&'+#/3
577878'WCQ 4Q 7X;'A-+3' CB'(<68Q
/#$% '2,)-/.*4$% .*0% 4)2,&$I'/<% )(% *)-1
2.&%:$-./'*)4</$%0'(($-$*/'./')*8 PN<48 JO578' A6' 7AP8=' 5CIAB86;
[/$-)'0%36&(./.3$%4)*/-)&3%/#$%#<0-)&<1 DL7B' 29H8=7<685=' H57BJ;' W(=AB
3'3% )(% 4#)&$3/$-)&% 36&(./$% '*% 4)-*$)4</$3 #B<4N' (:' 84' 57D' ,AJJ@AK@K>6O4<A6
.*0%'3%/#)6+#/%/)%F$%'2,)-/.*/%'*%/#$%-$+1 B>454<A6J' <6' 4N8' ?868' 86OAI<6?
6&./')*% )(% 4)-*$)4</$% 0$356.2./')*8 T75??=<6' O5>J8' <ON4N9AJ<J' L>7@
_$;4'$*4<%)(%3/$-)'0%36&(./.3$%4.63$3%k1 ?5=<J;' T741 K&/&41 !?DbbcQ' _[[`Q
&'*:$0% -$4$33'?$% '4#/#<)3'38G!9GX% "#$% )F1 P<4N'H8=B<JJ<A6;X
3$-?./')*% /#./% 3$?$-.&% 0-6+3% /#./% &)7$-
3$-62%4#)&$3/$-)&%@$8+89%*'4)/'*'4%.4'09%/-'1
,.-.*)&C% 4.*% '*064$% '4#/#<)/'4% 3:'* 7'/#% #$./% '*/)&$-.*4$8% "#$-$% '3% +-$./
"12.2l$#"#'EM,G+%"#
4#.*+$3%'*0'4./$3%/#$%'2,)-/.*4$%)(%&','0 ?.-'./')*%'*%/#$%3$?$-'/<%)(%4&'*'4.&%2.*'1
#)2$)3/.3'3% '*% *)-2.&% :$-./'*'=./')*8GT L4#/#<)3'3% ?6&+.-'3% @OSLS% tGN`!UUC9 ($3/./')*3% F$/7$$*% .(($4/$0% '*0'?'06.&3
M6-/#$-% $?'0$*4$% '3% /#$% '0$*/';4./')*% )( /#$% 2)3/% 4)22)*% '4#/#<)3'39% '3% -$&.1 '*% /#$% 3.2$% (.2'&<8% "#$% 4)*0'/')*% 6361
26/./')*3%'*%/#$%+$*$3%$*4)0'*+%4#)&$31 /'?$&<% 2'&08% H&/#)6+#% '*(.*/3% 636.&&< .&&<%7)-3$*3%'*%4&'2./$3%/#./%.-$%0-<%.*0
/$-)&%F')3<*/#$/'4%$*=<2$3%.3%.%4.63$%)( #.?$% *)-2.&% 3:'*9% /#$% 0'3$.3$% )(/$* 4)&0%.*0%'2,-)?$3%'*%7.-29%#62'0%$*1
k1&'*:$0% 0)2'*.*/% 4#)*0-)0<3,&.3'. 2.*'($3/3%7'/#'*%/#$%;-3/%<$.-8%"#$%34.&$ ?'-)*2$*/39% 7#$-$% /#$% 0'3$.3$% 2.<
,6*4/./.% .*0% #)*+$*'/.& $$2'0<3,&.3'. )(% '4#/#<)3'3% ?6&+.-'3% '3% 636.&&<% 2)3/ 4&$.-%0-.2./'4.&&<8
7'/# "4#/#<)3'()-2% $-</#-)0$-2.% .*0 ,-)2'*$*/% )*% /#$% $I/$*3)-% 36-(.4$3% )( "#$%0'3$.3$%7.3%/#)6+#/%/)%F$%.6/)3)1
-'2F 6$($4/3% @AfLD_C% 3<*0-)2$% .*0 /#$% $I/-$2'/'$39% 7'/#% \$I6-.&% 3,.-'*+ 2.&% 0)2'*.*/8N% a$4$*/&<9% 26/./')*3% '*
+$*$3%$*4)0'*+%)/#$-%.3,$4/3%)(%&','0%F')1 @M'+8% N!1GC8% "#$% 0'.,$-% .-$.% /$*03% /)% F$ /#$% +$*$% $*4)0'*+% ,-);&.++-'*% @R:IC
3<*/#$3'3%'*%/#$%.6/)3)2.&%-$4$33'?$%4)*1 3,.-$08% "#$-$% 2.<% F$% ;*$9% 7#'/$% 34.&$ #.?$%F$$*%()6*0%/)%4.63$%'4#/#<)3'3%?6&1
+$*'/.&% '4#/#<)3$38QU% "#$% -$4$*/% '0$*/';1 )?$-% &.-+$% .-$.38% E.-/'46&.-&<% )*% /#$ +.-'38% "#'3% ;*0'*+% 4&.-';$3% /#$% '*#$-'1
4./')*% )(% 26/./')*3% '*% FDCEX*Y% @)$-'*$ &)7$-% $I/-$2'/'$39% 7#'4#% .-$% )(/$*% /#$ /.*4$%,.//$-*%.3%3$2'10)2'*.*/8%L*0'?'01
,-)/$.3$ "!#'F'/)-9% X.=.&% /<,$% YC9% $*4)01 2)3/% 3$?$-$&<% '*?)&?$0% .-$.9% /#$% 34.&$ 6.&3%7#)%.-$%#)2)=<+)/$3%)-%4)2,)6*0
'*+%.%3$-'*$%,-)/$.3$%'*#'F'/)-9%4)*;-23%. 2.<%F$%4$*/-.&&<%.//.4#$09%7'/#%]4-.4:1 #$/$-)=<+)/$3% ()-% /#$% 26/./')*3% @'8$89
-)&$%()-%,-)/$.3$%'*#'F'/)-3%'*%*)-2.&%$,'1 '*+^% @36,$-;4'.&% ;336-'*+% /#-)6+#% /#$ /#)3$%7'/#%26/./')*3%'*%F)/#%,-);&.++-'*
0$-2.&% 0'(($-$*/'./')*8QG%"#$% 0'34)?$-'$3 3/-./62% 4)-*$62C% ./% /#$% $0+$38% "#'3 .&&$&$3C% 2.*'($3/% .% 3$?$-$% 4&'*'4.&% ,#$*)1
)(% 4)**$I'*% .F*)-2.&'/'$3% .3% 4.63$3% ()- /6-*'*+% 6,% ./% /#$% $0+$3% 4.*% &$.0% /)% /#$ /<,$8% L*0'?'06.&3% 7'/#% 26/./')*3% '*% )*$
$-</#-):$-./)0$-2'.% ?.-'.F'&'3Z% :$-./'/'39 3:'*%($$&'*+%-)6+#8 ,-);&.++-'*% .&&$&$% @#$/$-)=<+)/$3C% 2.*'1
'4#/#<)3'39% .*0% 0$.(*$33% @eL_C% 3<*1 H% *62F$-%)(% )/#$-% ;*0'*+3% .-$% 4)21 ($3/%.%2'&0% ,#$*)/<,$% 7'/#% u`U%,$-4$*/
0-)2$Z%.*0%)/#$-%0'3)-0$-3%'*?)&?'*+%$41 2)*&<%)F3$-?$0%'*%.33)4'./')*%7'/#%'4#1 ,$*$/-.*4$% @3$$% M'+8% N!1GC8% "#$% ,-$?.1
/)0$-2.&%/'336$3%#'+#&'+#/%/#$%-)&$%)(%'*1 /#<)3'3% ?6&+.-'38QN% f<,$-&'*$.-% ,.&23 &$*4$%)(%/#$%26/./')*3%'3%uT%,$-4$*/9%.*0
/$-4$&&6&.-% 4)226*'4./')*% ()-% ,-),$-&< .-$% 636.&&<% ,-$3$*/9% .*0% 3)2$% ,./'$*/3 /#./%)(%#)2)=<+)/$3%'3%uG%'*%NUU%'*%/#$
(6*4/')*'*+%3:'*8GU9QQ 2.<%#.?$%,.&2.-d,&.*/.-%/#'4:$*'*+%.,1 H*+&)%B6-),$.*%,),6&./')*8QW9Q`
"#$3$%$I.2,&$3%#'+#&'+#/%/#$%4)2,&$I1 ,-).4#'*+% .% :$-./)0$-2.8% e$-./)3'3% ,'1 L/% '3% 0'(;46&/% /)% 0'3/'*+6'3#% 3)2$% ,.1
'/<% )(% /#$%,-)4$33%)(%()-2'*+%.% *)-2.&&< &.-'3%@.%()&&'46&.-%3,'*$J&':$%#<,$-:$-./)1 /'$*/3%7'/#%2'&0%'4#/#<)3'3%?6&+.-'3%(-)2
(6*4/')*'*+% 3/-./62% 4)-*$62% .*0% 0$21 3'3C%'3%4)22)*9%$?$*%'*%'*0'?'06.&3%7'/# 3'2,&$%0-<%3:'*%@I$-)3'3C8%B?)&?'*+%6*0$-1
)*3/-./$% /#./% 0'?$-3$% .F*)-2.&'/'$3% 4.* 2'&0%'4#/#<)3'3%?6&+.-'39%.*0%636.&&<%'*1 3/.*0'*+%)(%/#'3%?$-<%4)22)*%4)*0'/')*
-$36&/% '*% 3'2'&.-% 4&'*'4.&% ,#$*)/<,$3% )( ?)&?$3%/#$%)6/3'0$%)(%/#$%.-239%$I/$*3)- '3%F$+'**'*+%/)%4&.-'(<%#)7%.%3,$4/-62%)(
/#'4:$*$0% 3/-./62% 4)-*$62% .*0% 34.&'*+8 /#'+#39% .*0% F6//)4:3% @3$$% $M'+% N!1G8G% '* 6*0$-&<'*+% 26/./')*3% 4.*% 4.63$% /#$% 0'1
f)7%0)%0'?$-3$%,-)4$33$3%-$36&/%'*%3'2'1 )*1&'*$% $0'/')*C8% H/),<% '3% .&3)% (-$1 ?$-3$% 4&'*'4.&% 3$?$-'/<% )(% 0-<% 3:'*% (-)2
&.-% ,#$*)/<,$r%"#$%.*37$-3%.-$%6*4&$.-9 56$*/&<% )F3$-?$0% .*0% 4.*% 2.*'($3/% .3 I$-)3'3% /)% 3$?$-$% '4#/#<)3'3% ?6&+.-'38% L*
.&/#)6+#% 3/60'$3% 36++$3/% /#./% 0$($4/3% '* #.<% ($?$-9% $4=$2.9% )-% .3/#2.8% "#$3$ .00'/')*9% )*% /#$% F.3'3% )(% 3:'*% ;*0'*+3
/#$% F.--'$-% 2.<% -$36&/% '*% '*\.22./')* ;*0'*+3%4.*%4)*()6*0%.*%.446-./$%0'.+1 .&)*$9%2.&$3%7'/#% 3$?$-$% '4#/#<)3'3%?6&1
.*0% #<,$-,-)&'($-./')*8QV% M6-/#$-2)-$9 *)3'39% F$4.63$% #<,$-&'*$.-% ,.&23% .*0 +.-'3% 2.<% F$% 0'(;46&/% /)% 0'(($-$*/'./$
)6-% $?)&?'*+% 6*0$-3/.*0'*+% )(% /#$3$ :$-./)3'3% ,'&.-'3% 2.<% F$% 3$$*% '*% ./),'4 (-)2%/#)3$%.(($4/$0%7'/#%k1&'*:$0%-$4$31
2$4#.*'323%4)*/'*6$3%/)%4&.-'(<%/#$%26&1 '*0'?'06.&3%7#)%0)%*)/%#.?$%'4#/#<)3'3 3'?$% '4#/#<)3'38QN9Q!% "#$% #'3/),./#)&)+'4
/'3<3/$29%4&'*'4.&%,#$*)/<,$3%)F3$-?$0%'* ?6&+.-'38% a.-$&<9% '*0'?'06.&3% 7'/#% '4#1 ('*0'*+3%)(%'4#/#<)3'3%?6&+.-'3%@M'+8%N!1QHC
3$?$-.&%'4#/#<)3'()-2%0'3)-0$-38 /#<)3'3%?6&+.-'3%2.<%#.?$%#<,)#'0-)3'3 2.<% F$% 0'3/'*4/'?$% '*% 3,$4'2$*3% /.:$*
;I"
A C
D 4
78.9:$-;"<= 2<J4AH54NA7A?9;'AB'"ON4N9AJ<J'L>7?5=<J;'-A48'5CJ864'?=56>75='7598=;'CB'p@7<6R8I'=8O8JJ<L8'<ON4N9AJ<J;'-A48'OABH5O4'N9H8=R8=54AJ<J'56I'5OO86@
4>548I'?=56>75='7598=;'WMJ8I'P<4N'H8=B<JJ<A6'K=AB'%AC'*O(5=7568Q'*!;X'DB'+>4AJAB57'=8O8JJ<L8'OA6?86<457'<ON4N9AJ<J;'.N<OR868I'J4=54>B'OA=68>B'OABHAJ8I'AK
OABH5O4'N9H8=R8=54AJ<J'P<4N'KAO<'AK'H5=5R8=54AJ<J;'4B'&H<I8=BA794<O'N9H8=R8=54AJ<J;'.N8'J4=54>B'OA=68>B'<J'4N<OR868I'WN9H8=R8=54AJ<JXQ'56I'4N8=8'<J'H=AB<6864
L5O>A75='I8?868=54<A6'AK'J>H=5C5J575='8H<I8=B<J'BAJ4'B5=R8I'54'4N8'?=56>75='7598=;
+M.$#$*+,'%&1&##"E&'
1$-G&-".+,'"12.2l$#"#
"#$% /$-2% (9&7)7+(-1 '%#%))"8%1 #7!0%!"&(-
"#$&$/7)")% '3% 63$(6&% /)% 0$34-'F$% .% #$/$-)1
78.9:$-;"<! p@7<6R8I'=8O8JJ<L8'<ON@
+$*$)63%+-)6,%)(%0'3)-0$-3%/#./%,-$3$*/
4N9AJ<J;'AB'.N8'JO578J'5=8'75=?8'56I'I5=R ./% F'-/#% 7'/#% +$*$-.&'=$0% '*?)&?$2$*/
56I'BAJ4'8L<I864'A6'4N8'h8S>=57'5=85J'<6 )(% /#$% 3:'*8% HaAL% 4.*% F$% 3<*0-)2'49
4N<J' H54<864;'CB'.N8' C7>8' 5=O'<J' 5'O=AJJ@ 7#$*% .44)2,.*'$0% F<% 2.*'($3/./')*3
J8O4<A6'AK'4N8'OA=685'5J'J886'C9'J7<4@75BH '*% )/#$-% )-+.*% 3<3/$239% )-% *)*3<*0-)1
C 8S5B<654<A6;'.N8'AH5O<4<8J'5HH85='PN<48; 2'48% H6/)3)2.&% -$4$33'?$% '4#/#<)3'3% '3
-.-$%.*0%#.3%F$$*%$3/'2./$0%/)%)446-%'*
./%'*4-$.3$0%-'3:%()-%/#$%0$?$&),2$*/%)( @*)-2.&%'3%XU%/)%QUU%!+d0DZ%k1&'*:$0%'4#1 .F)6/%G%'*%VUU9UUU%,$-3)*38N
/$3/'46&.-% 4.*4$-8VT% f'3/),./#)&)+'4% $I1 /#<)3'3%'3%QUUU%/)%TUUU%!+d0DC8%R*()-/61 L*%)&0$-%&'/$-./6-$9%*)*1F6&&)63%4)*+$*1
.2'*./')*% 3#)73% 4)2,.4/% )-/#)#<,$-1 *./$&<9% 4#)&$3/$-)&% 36&(./$% 0$/$-2'*./')* '/.&% '4#/#<)3'()-2% $-</#-)0$-2.% @PALB9
:$-./)3'39% .4.*/#)3'39% .*0% ,.,'&&)2./)1 '*% 3$-62% .*0% 34.&$% 2.<% *)/% F$% -$.0'&< &.2$&&.-% '4#/#<)3'39% 7'/#% .6/)3)2.&% -$1
3'38% "#$% +-.*6&.-% &.<$-% '3% 636.&&< .?.'&.F&$% ()-% &.F)-./)-<% 4)*;-2./')*% )( 4$33'?$% '*#$-'/.*4$C% 7.3% 0'3/'*+6'3#$0
/#'4:$*$0%@3$$%M'+%N!1QcC8 /#$%4&'*'4.&%0'.+*)3'38%L*%/#$% -.-$%4.3$%'* (-)2% F6&&)63% 4)*+$*'/.&% '4#/#<)3'()-2
A#)&$3/$-)&% 36&(./$% &$?$&3% .-$% $&$?./$0 7#'4#% 0$&$/')*3% .-$% *)/% 0$/$4/$0% .*0% . $-</#-)0$-2.% @$,'0$-2)&</'4% #<,$-:$-.1
'*%/#$%3$-629%$,'0$-2'39%.*0%34.&$9NU%.*0 4&'*'4.&% 0'.+*)3'3% '3% *$4$33.-<9% .-<&36&(.1 /)3'39% 7'/#% .6/)3)2.&% 0)2'*.*/% '*#$-'1
/#$-$% '3% '*4-$.3$0% 2)F'&'/<% )(% 1&',),-)1 /.3$%A%@3/$-)'0%36&(./.3$C%$*=<2$%.4/'?'/< /.*4$C%F.3$0%)*%4&'*'4.&%.,,$.-.*4$%@F6&1
/$'*3% @&)710$*3'/<% &',),-)/$'*3C% )*% $&$41 4.*% F$% 2$.36-$0% '*% 46&/6-$0% ;F-)F&.3/38 &.$C% .*0% ,.//$-*% )(% '*#$-'/.*4$8`9NW% "#./
/-),#)-$3'39% .% ($./6-$% /#./% 4.*% 36++$3/ _$&$/')*3%/#./%'*4&60$%.0>.4$*/%36&(./.3$3 /#$%/$-2%-(+%--('1"#$&$/7)")%7.3%63$0%'*/$-1
/#$%0'.+*)3'38%[/$-)'0%36&(./.3$%'3%)*$%)(%. $I,&.'*%/#$%)?$-&.,%3<*0-)2$3%'*?)&?'*+ 4#.*+$.F&<% 7'/#% PALB% .*0% '*4&60$0% .
+-)6,% )(% .-<&36&(./.3$3% &)4./$0% )*% 4#-)1 4#)*0-)0<3,&.3'.% ,6*4/./.% .*0% k1&'*:$0 3,$4/-62%)(%,#$*)/<,$3%#.3%&$0%/)%3)2$
2)3)2$%k,QQ8%S)-$%/#.*%TU%,$-4$*/%)( '4#/#<)3'38NG% "#$% k1&'*:$0% ()-2% )(% e.&&1 4)*(63')*8% Y'&&'.23% .*0% B&'.3% 0'3/'*1
/#$%26/./')*3%'*%k1&'*:$0%'4#/#<)3'3%.-$ 2.**% 3<*0-)2$9% '*% 7#'4#% #<,)+)1 +6'3#$0% &.2$&&.-% '4#/#<)3'3% (-)2% PALB
0$&$/')*39% $I,&.'*'*+% /#$% (.'&6-$% /)% ;*0 *.0)/-),#'4%#<,)+)*.0'32%.*0%.*)32'. p636.&&<% 4.&&$0% #7!0%!"&(-1 "#$&$/7)".7'+
'226*)&)+'4.&&<%0$/$4/.F&$%$*=<2$%,-)1 .-$% ()6*09% )(/$*% 7'/#% -$*.&% .F*)-2.&'1 %'/&$'76%'+(% @ALBCq9% .% 2'&0$-% $-</#-)0$-1
/$'*% '*% 3)2$% ,./'$*/38% _$&$/')*3% 4.*% )(1 /'$39% )F$3'/<9% 3<*:'*$3'3% @2'--)-% '2.+$ 2'4%()-28N`%[)2$%,./'$*/3%7'/#%&.2$&&.-
/$*% F$% 0$/$4/$0% F<% \6)-$34$*4$% '*% 3'/6 2)?$2$*/3%)(%/#$%$I/-$2'/'$3C9%4&$(/%,.&1 '4#/#<)3'3% 4.*% F$% 4&$.-&<% 0'3/'*+6'3#$0
#<F-'0'=./')*9% .?.'&.F&$% '*% 2.*<% 4&'*'4.& ./$9% .*0% 3,.3/'4% ,.-.,&$+'.9% 4.*% .&3)% F$ (-)2%/#)3$%7'/#%ALB%)*%/#$%F.3'3%)(%4&'*'1
&.F)-./)-'$38%A)*;-2./')*%)(%/#$%0'.+*)1 3$$*% '*% .33)4'./')*% 7'/#% k1&'*:$0% -$4$31 4.&% ($./6-$38% L*% &.2$&&.-% '4#/#<)3'39% )*$
3'3%4.*%.&3)%F$%2.0$%F<%;*0'*+%.*%$&$?.1 3'?$% '4#/#<)3'3% .3% ,.-/% )(% .% 4)*/'+6)63 3$$3% &.-+$9% 0.-:9% ,&./$1&':$% 34.&$9% .*0% .&1
/')*% '*% 3$-62% 4#)&$3/$-)&% 36&(./$% &$?$&3 +$*$% 0$&$/')*% 3<*0-)2$8NQ% c$4.63$% )( /#)6+#%'*(.*/3%2.<%F$%-$0%./%F'-/#9%.06&/3
;I@
-./$0%F<%36,$-;4'.&%;336-'*+%4.*%&$.0%/)
.*% .,,$.-.*4$% 3'2'&.-% /)% /#./% )(% .% 0-<
-'?$-F$08% _6-'*+% 4#'&0#))0% .*0% '*/)
.06&/#))0%/#$% 0$+-$$% )(%$-</#$2.%2.<
?.-<9%F6/%/#$%3$?$-$%,-$3$*/./')*%)(%4&.31
3'4%&.2$&&.-%'4#/#<)3'3%636.&&<%#.3%2'*'1
2.&%/)%*)%$-</#-)0$-2.8%L*?)&?$2$*/%)(
A /#$%,.&23%.*0%3)&$3%'*%&.2$&&.-%'4#/#<)1
3'3%'3%?.-'.F&$%.*0%-.*+$3%(-)2%2'*'2.&
#<,$-&'*$.-'/<%/)%3$?$-$%:$-./)0$-2.8
"#$%&',3%.*0%264)63%2$2F-.*$3%/$*0
/)% F$% 3,.-$0% '*% &.2$&&.-% '4#/#<)3'39% F6/
/#$% .0*$I.&% 3/-64/6-$3% 2.<% F$% 4)2,-)1
2'3$0%F<%/#$%.0#$-$*/9%;-2%34.&$8%"#'4:
3/-./62% 4)-*$62% )*% /#$% 34.&,% /$*03% /)
$*4.3$%#.'-39%.*0%'*%4)*>6*4/')*%7'/#%/#$
/.6/*$33% )(% /#$% 3:'*9% 2.<% &$.0% /)% .% 34.-1
-'*+%.&),$4'.9%2)3/%2.-:$0%./%/#$%,$-',#1
C D $-<% )(% /#$% 34.&,8% "#$% #<,$-:$-./)3'3% 4.*
'*/$-($-$% 7'/#% *)-2.&% 37$./% +&.*0% (6*41
78.9:$-;"<; 175JJ<O'75B8775='<ON4N9AJ<J'HN86A49H8;'AB'&O4=AH<A6;'C-+3'-DB',5=?8Q'C=AP6Q'H7548@7<R8 /')*9% -$36&/'*+% '*% #<,)#'0-)3'39% F6/% /#$
JO578;'W(=AB'%>JJ877',:'84'57D',<6R5?8'AK'5>4AJAB57'=8O8JJ<L8'75B8775='<ON4N9AJ<J'4A'ON=ABAJAB8'Z3\; 0$+-$$%)(%'2,.'-2$*/%?.-'$3%F$/7$$*%,.1
A6101U+61K&/&4 ##DZZ3`Q'Zaa3Q'P<4N'H8=B<JJ<A6;X /'$*/38%[)2$%,./'$*/3%#.?$%3$?$-$%#$./%'*1
/)&$-.*4$% .*0% 263/% F$% ?'+'&.*/% /)% .?)'0
#.?$%&'//&$%/)%*)%$-</#-)0$-2.%@M'+8%N!1NC8 S)3/% ,./'$*/3% 7'/#% &.2$&&.-% '4#/#<)1 )?$-#$./'*+8% "-$./2$*/% 7'/#% )-.&% -$/'1
L*% /#$% 2)-$% 3$?$-$9% 4&.33'4% ,-$3$*/./')* 3'3%)-%ALB%'*#$-'/%/#$%0'3$.3$%'*%.*%.6/)1 *)'03% 4.*% '2,-)?$% )-% ,-$?$*/% 3)2$% 3$1
)(%&.2$&&.-%'4#/#<)3'39%/.6/*$33%)(%/#$%(.1 3)2.&%-$4$33'?$%,.//$-*8%a.-$&<9%(.2'&'$3 56$&.$%)(%&.2$&&.-%'4#/#<)3'38%E./'$*/3%(-$1
4'.&% 3:'*% &$.03% /)% /-.4/')*% )*% /#$% $<$&'03 #.?$% F$$*% 0$34-'F$0% 7'/#% 3'2'&.-% ,#$1 56$*/&<% *)/'4$% .*% '*4-$.3$% '*% 37$./'*+9
.*0% &',39% &$.0'*+% /)% $4/-),')*% .*0 *)/<,$39% 7#$-$% /#$% 0'3$.3$% '3% '*#$-'/$0 7'/#% '2,-)?$0% #$./% /)&$-.*4$8% H&/#)6+#
$4&.F'628%[4.--'*+%.&),$4'.9%2)3/%,-)2'1 .3%.*%.6/)3)2.&%0)2'*.*/%/-.'/8W%"#'3%'3 -$/'*)'0% /#$-.,<% 4.*% 4.63$% F&$,#.-'/'3% )-
*$*/%./%/#$%,$-',#$-<%)(%/#$%34.&,9%2.<%F$ .*% '2,)-/.*/% 4)*3'0$-./')*% ()-% +$*$/'4 $?$*%4)*>6*4/'?'/'39%'/%'3%636.&&<%7$&&%/)&$-1
,.-/&<%06$%/)% /-.4/')*% ./% /#$% #.'-% &'*$8%L* 4)6*3$&'*+8 ./$0%F<%,./'$*/3%7'/#%&.2$&&.-%'4#/#<)3'38
4)*/-.3/9%ALB%#.3%+$*$-.&'=$0%-$0*$33%.*0 S)-$)?$-9%/#$%.F'&'/<%)(%3<3/$2'4%-$/'*)'0
;*$9%7#'/$%34.&$%@M'+8%N!1WC8%E./'$*/3%7'/# @.*0%'*%3)2$%4.3$39%/),'4.&%-$/'*)'0C%/#$-1
4&.33'4% ALB% #.?$% &'//&$% /)% *)% $4/-),')*9 ,+*&,,+%'"12.2l$#"# .,<%/)%0$4-$.3$%/#'4:%,$-')46&.-%34.&$%4.*
$4&.F'629% )-% .&),$4'.8% f)7$?$-9% 2.*< D.2$&&.-%'4#/#<)3'3%'3%.,,.-$*/%./%F'-/#9 0$4-$.3$% /#$% /$*0$*4<% /)% 0$?$&),% $4/-)1
,./'$*/3% 0)%*)/%;/%*$./&<%'*/)%/#$3$% /7) .*0% /#$% *$7F)-*% 636.&&<% ,-$3$*/3% $*1 ,')*8% P$?$-/#$&$339% ,./'$*/3% 7'/#% 3$?$-$9
4&'*'4.&% 0$34-',/')*39N!% '*% /#./% /#$<% #.?$ 4.3$0%'*%.%4)&&)0')*%2$2F-.*$8%H/%/#'3 4&.33'4%&.2$&&.-%'4#/#<)3'3%636.&&<%-$56'-$
($./6-$3% )(% F)/#% &.2$&&.-% '4#/#<)3'3% .*0 /'2$9% /#$% 3:'*% 2.<% F$% -$08% O?$-% /'2$9 4.-$(6&% $<$% 2.'*/$*.*4$8% c$4.63$% )(% /#$
ALB% .*0% .% 4&'*'4.&% ,#$*)/<,$% '*/$-2$0'1 /#$%3:'*%0$?$&),3%&.-+$9%,&./$1&':$%34.&$39 $4/-),')*%@3$$%M'+8%N!1NC9%/#$%&'03%2.<%(.'&
./$%F$/7$$*%F)/#%0'3)-0$-38%"#$-$()-$9%'/ 7#'4#%.,,$.-%/)%F$%.--.*+$0%'*%.%2)3.'4 /)% 4&)3$% (6&&<9% ,.-/'46&.-&<% 06-'*+% 3&$$,Z
4.*% F$% 63$(6&% /)% 4)*3'0$-% /#$3$% /7)% 0'31 ,.//$-*% @3$$% M'+8% N!1NC8% L*% 3)2$% .-$.39 #<0-./')*% 7'/#% &'56'0% /$.-3% 06-'*+% /#$
/'*4/'?$% ,-$3$*/./')*3% .3% $*03% )(% .% 3,$41 /#$% 34.&$3% .-$% 4$*/-.&&<% .//.4#$0% 7'/# 0.<% .*0% ),#/#.&2'4% &6F-'4.*/3% ./% *'+#/
/-629% F$/7$$*% 7#'4#% &'$% .% +-.0./')*% )( -.'3$0% F)-0$-38% "#$% 34.&$3% /$*0% /)% F$ 4.*%,-$?$*/%$I,)36-$%:$-./'/'38
4&'*'4.&%,#$*)/<,$3%7'/#%?.-'.F&$%0$+-$$3 &.-+$3/% )?$-% /#$% &)7$-% $I/-$2'/'$39 f'3/),./#)&)+'4% $I.2'*./')*% /<,'4.&&<
)(%$-</#$2.%.*0%4).-3$*$33%)(%34.&$8%L*0'1 7#$-$% /#$% &.-+$9% ,&./$1&':$% 34.&$% 3$,.1 3#)73%)-/#):$-./)/'4%#<,$-:$-./)3'3%7'/#
?'06.&% ($./6-$39% 364#% .3% 4)&&)0')*% 2$21
F-.*$%@0'34633$0%'*%A)&&)0')*%c.F<%6*0$-
L4#/#<)3'3% '*% /#$% P$7F)-*C9% $4/-),')*9
.*0% .&),$4'.9% 4.*% )446-% .4-)33% /#$% 3,$41
/-628% "#$% 4)&&)0')*% ,-$3$*/./')*% 2.<9
)?$-%/'2$9%$?)&?$%'*/)%.%0'3$.3$%/#./%(.&&3
.*<7#$-$%7'/#'*%/#$%4&'*'4.&%3,$4/-62%)(
3$?$-'/<% .*0% 4.*% 0$?$&),% '*/)% &.2$&&.-
'4#/#<)3'39%ALB9%)-%#.?$%2'*'2.&%'*?)&?$1
2$*/% @3$&(1#$.&'*+% 4)&&)0')*% F.F<C8NX% H&1
/#)6+#%.//$2,/3%/)%-$;*$%/#$%4./$+)-'1
=./')*% )(% /#$3$% 0'3)-0$-3% F<% 63'*+
F')4#$2'4.&% .*0% 6&/-.3/-64/6-.&% )F3$-?.1
/')*3%#.?$%(.'&$0%/)%<'$&0%.%4)*3'3/$*/%.*0
-$,&'4.F&$%4&.33';4./')*%34#$2$9W%'0$*/';1
4./')*%)(%/#$%3,$4/-62%)(%3,$4';4%2)&$41
6&.-% 0$($4/3% 6*0$-&<'*+% /#$3$% 4)*0'/')*3
7'&&%6*0)6F/$0&<%#$&,8 78.9:$-;"<# 1A6?86<457'<ON4N9AJ<KA=B'8=94N=AI8=B5;'e=<?N4Q'=8I'8=94N=AI8=B5'P<4N'T68Q'PN<48'JO578;
;>I
!"#$%&'0(,
J(%(,&6-(%*+F(-&+%&8"*2,2#$H&7(O(,,+G(&C2%Q(%+*$H&6O/*/P2,+,
J595$ 47;.569 AI9C.6;9 :3:.5=6C&A69069J:
FKBM .=56J?7>45B<65J8'Z 1A=6<T8I'86L87AH8'KA=B54<A6 u
A=>AMP +.)@C<6I<6?'O5JJ8448Q'J>CK5B<79'+Q'B8BC8='Z_ *8BC=568'4=56JHA=4]7<H<I'B845CA7<JB u
AJHY!Q +=5ON<IA6548'7<HAS9?865J8'b 29I=AH8=AS<I8'<JAB8=5J8 u
AJHYMP= +=5ON<IA6548'Z_@7<HAS9?865J8Q'%'49H8 ,<HAS9?865J8 u
2>U\T "ON4N9<6 .=<AS<7<6'+b'=8O8H4A={'28HAS97<6'H54NP59{ u
IJ0QOXNM1V>\"RIPPW 194AON=AB8')3^[Q'K5B<79'3Q'J>CK5B<79'(Q'HA79H8H@ ,.e3@AB8?5@N9IAS975J8{ u
4<I8'_
DTA"PO #-+)'=8O8H4A='W#-+%&X E8J<O78'4=56JHA=4 1&!-"/'J96I=AB8
A=U5X1V>K2X[W +CN9I=A75J8'IAB5<6'OA645<6<6?'^'OABH5=54<L8' *8BC8='AK'8J48=5J8]7<H5J8]4N<A8J48=5J8' 1N565=<6@!A=KB56'J96I=AB8
?868'<I864<TO54<A6@^d J>CK5B<79
+.)'i'5I86AJ<68'4=<HNAJHN548Y'1&!-"/'i'8&=8C=57 ; 9J?868J<JQ'/8>=AH54N9Q'9ON4N9AJ<JQ'56I'H57BAH75645=':8=54AI8=B5Y'',.e3'i'78>RA4=<868'e3Y'#-+)'i'JA7>C78'-@
84N97B578<B<I8jJ86J<4<L8'K5O4A='5445ONB864'H=A48<6;
5.N8'J5B8'?868'B59'N5L8'BA=8'4N56'A68'65B8;
!"#$%&'0('
C/$)$O*()+,*+O,&2E&5D+-()#2HP*+O&!PD()N()$*2,+,
94:XY 94:XZ 94:X[ 4:XY 4:XZ 4:X[
)57B]JA78'N9H8=R8=54AJ<J j j j z z z
)57B]JA78'J>=K5O8 -A=B57 -A=B57 29H8=7<685=Q'B<6<B57' #BAA4N #BAA4N 18=8C=<KA=B
JO578
!<?<457'OA64=5O4>=8J j j j j z j
#O578 29J4=<S e=AP6 (<68Q'PN<48 *<7I FN<48'JO578'4A'H887 .56
!<J4=<C>4<A6 G868=57<V8I G868=57<V8I G868=57<V8I ,AO57<V8I G868=57<V8I G868=57<V8I
&=94N=AI8=B5 j j z j z j
e7<J48=<6? z z z ,AO57<V8I z -8A65457
*AJ4'OABBA6'B>454<A6 /8=54<6@Z[ /8=54<6@Z
-)#'i'49H8J'P<4NA>4'J8L8=8'H57B]JA78'N9H8=R8=54AJ<JY')#'i'49H8J'P<4N'J8L8=8'H57B]JA78'N9H8=R8=54AJ<JY'j'i'5CJ864Y'z'i'H=8J864;
;>=
C
$
78.9:$-;"<" 17<6<O57'HN86A49H8J'AK'8H<I8=BA794<O'N9H8=R8=54AJ<J;'-)#'W6A'J8L8=8'H57B]JA78'N9H8=R8=54A@
J<JX'49H8J'5=8'JNAP6'<6'ALD; AB -)#@Z;'G868=57<V8I'<6LA7L8B864'P<4N'4N<ORQ'C=AP6'L8==>OA>J'N9H8=R8=54AJ<J;
)57BJ'5=8'JH5=8I;'$L8='4N8'IA=J57'KAA4Q'N9H8=R8=54AJ<J'<J'5==598I'<6'5'ON5=5O48=<J4<O'OACC78J4A68'A='N9J4=<S'WHA=@
O>H<68@7<R8X'H5448=6;'CB'-)#@_;'e=AP6'N9H8=R8=54AJ<J'AL8='4N8'4=>6R'56I'5OO864>548I'AL8='UA<64J;')57BJ'5=8
JH5=8I;'1ABH5=8I'P<4N'4N8'L8==>OA>J'N9H8=R8=54AJ<J'<6'-)#@ZQ'<6LA7L8B864'<J'B>ON'B<7I8=;'$6'4N8'7AP8='78?JQ
6A48'4N8'C7<J48=<6?Q'N9H8=4=<ONAJ<JQ'56I'=8754<L8'JH5=<6?'AK'4N8'JR<6'C84P886'4N8'UA<64J;'DB -)#@b;'G868=57<V8I
8=94N=AI8=B5'P<4N'PN<48'JO578'56I'N9H8=R8=54AJ<J;')#'WJ8L8=8'H57B]JA78'N9H8=R8=54AJ<JX'49H8J'5=8'JNAP6'<6'4N8
7AP8='J8O4<A6;'4B')#@Z;')57B5='56I'H75645='N9H8=R8=54AJ<J'P<4N'JN5=H'CA=I8='I87<68548I'C9'5'=8I'N57A;'e7<J48=J
5=8'H=8J864'54'4N8'CA=I8=;'-A48'4N8'=8754<L879'JBAA4N'J>=K5O8;'.N8=8'<J'ON5=5O48=<J4<O'<6LA7L8B864'54'4N8'UA<64J
JH5=<6?'BAJ4'AK'4N8'4=>6R'56I'8S4=8B<4<8J;'$B')#@_;'256IJ'W'&<4'56I'8&/4&- X'AK'5'Z^@985=@A7I'H54<864'P<4N'J8L8=8
H57B5='N9H8=R8=54AJ<J'56I'OA64=5O4>=8J;'(756R'AK'J5B8'H54<864'W'()&-1 -9.?4 X'8SN<C<4<6?'?868=57<V8I'8=94N=A@
I8=B5'56I'JO57<6?;')57BJ'W+,,&-1-9.?4X'AK'5'b`@985=@A7I'H54<864'P<4N'J8L8=8'H57B5='N9H8=R8=54AJ<JQ'OA64=5O@
4>=8JQ'56I'5<6N>B@7<R8'OA6J4=<O4<6?'I<?<457'C56IJ;'.N8'H57B5='N9H8=R8=54AJ<J'7<B<4J'JH=85I<6?'AK'4N8'T6?8=J;'7B
)#@b;'29H8=R8=54AJ<J'<6'5'OACC78J4A68'H5448=6'A6'4N8'R688J;'(A>=@985=@A7I'H54<864'P<4N'N9H8=R8=54AJ<J'<6'5'I<J@
4 4<6O4<L8'O8=8C=<KA=B'H5448=6'A6'4N8'H57BJ'56I'JA78J'W6A4'JNAP6X;'W+I5H48I'K=AB'!<G<AL5665'::Q'e578'#:D'17<6<O57
N848=A?868<49'<6'8H<I8=BA794<O'N9H8=R8=54AJ<J;'A-8?15&-674('1>!IDZ[_`Q'Zaa3QP<4N'H8=B<JJ<A6;X 7
$3"(%#3$35&!"! #3/-$"+(4)
'*+C8 f'3/)&)+'4.&&<9%/#$%$,'0$-2'3%3#)73
#<,$-:$-./)3'3%.*0%?.46)&'=./')*%3'2'&.-
/)% $,'0$-2)&</'4% #<,$-:$-./)3'39% F6/% '/
2.<%F$%4)*;*$0%/)%/#$%+-.*6&.-%&.<$-8%L*
()6-% (.2'&'$3% 7'/#% '4#/#<)3'3% F6&&)3.% )(
['$2$*3% .*0% /7)% )-'+'*.&&<% 0'.+*)3$0
7'/#% $,'0$-2)&</'4% #<,$-:$-./)3'3% F6/
7#)% &.4:$0% 26/./')*3% '*% :$-./'*1G% .*0
:$-./'*1GU9%26/./')*3%7$-$%()6*0%'*%/#$
+$*$%$*4)0'*+%:$-./'*1Q%.%0'(($-$*/'./')*1
3,$4';4% :$-./'*% )(% /#$% 36,-.F.3'&.-% $,'1
0$-2'3%/#./%'3%$I,-$33$0%'*%/#$%2)-$%361
,$-;4'.&%$,'0$-2.&%&.<$-38`Q
"ON4N9AJ<J'29J4=<S'AK'
1>=4N'56I'*5OR7<6
L4#/#<)3'3% #<3/-'I% )(% A6-/#% .*0% S.4:&'*
@OSLS% tGN`WTUC% '3% .% -.-$9% .6/)3)2.&
0)2'*.*/% 0'3)-0$-% /#./% 4&'*'4.&&<% -$3$21
F&$3% $,'0$-2)&</'4% #<,$-:$-./)3'38% A&'*'1
4.&% $I,-$33')*% ?.-'$39% $?$*% 7'/#'*% (.2'1
&'$39%(-)2%,.&2),&.*/.-%:$-./)0$-2.%/)%.
3$?$-$% +$*$-.&'=$0% '*?)&?$2$*/8% "#$-$
4.*% F$% 7'0$3,-$.0% ,./4#<9% /#'4:9% +-.<1
F-)7*% #<,$-:$-./)3'39% 2)3/% 2.-:$0% )*
/#$%$I/$*3)-%.-23%.*0%&$+38%E./'$*/3%7'/#
$I/$*3'?$% '*?)&?$2$*/% -$3$2F&$% /#)3$
A C 7'/#%3$?$-$%$,'0$-2)&</'4%#<,$-:$-./)1
78.9:$-;"<? *AJ5<O' 8H<I8=BA794<O' N9H8=R8=54AJ<J;'AB' #4=85RJ' AK' N9H8=R8=54AJ<J' I<J4=<C>48I' 57A6? 3'3 7'/#)6/% ,.&2.-d,&.*/.-% '*?)&?$2$*/9
7'/#%?$--64)63%)-%,)-46,'*$1&':$%@#<3/-'IC
e75JONRAmJ'7<68J'<6'5'JHA=5I<O'O5J8'I>8'4A'HAJ4V9?A4<O'AOO>==86O8'AK'68P'B>454<A6;'CB'G=56ION<7I'AK'H5@
#<,$-:$-./)3'38% f)7$?$-9% '*% 4)*/-.3/% /)
4<864'JNAP6'<6'A;'"K'4N8'?8=B'7<68'<J'<6LA7L8I'?868=57<V8I'<6LA7L8B864'O56'C8'4=56JB<448I'4A'J>CJ8\>864
$,'0$-2)&</'4% #<,$-:$-./)3'39% F&'3/$-'*+
?868=54<A6J'<6'56'5>4AJAB57'IAB<6564'<6N8=<456O8'H5448=6; 0)$3%*)/%)446-8%f'3/)&)+'4%$I.2'*./')*%)(
Y'/#'*% :$-./'*)4</$39% :$-./'*% '*/$-1 $,'/#$&'628%S6/./')*3%'*%:$-./'*1T%#.?$ /#$%$,'0$-2'3%3#)73%.4.*/#)3'39%,.,'&&)1
2$0'./$% ;&.2$*/3% ()-2% .*% $&.F)-./$ F$$*%()6*0%'*%(.2'&'$3%7'/#%/#$%/<,$%)( 2./)3'39%.*0%3$?$-$%)-/#):$-./)/'4%#<,$-1
*$/7)-:%/#./%4)*($-3%3/-64/6-.&%3/.F'&'/< $,'0$-2)&</'4% #<,$-:$-./)3'3% &'2'/$0 :$-./)3'39% 7'/#% (-$56$*/% F'*64&$./$% 4$&&38
/)%/#$%4$&&38%L*%/#$%36,-.F.3'&.-%0'(($-$*1 $I4&63'?$&<% /)% /#$% ,.&23% .*0% 3)&$3 e$-./'*)4</$3%7'/#'*%/#$%+-.*6&.-%.*0%6,1
/'./'*+% :$-./'*)4</$3% )(% '*/$-()&&'46&.- @lv-*$-C%@3$$%A#.,8%NXC8`G ,$-% 3,'*)63% &.<$-3% 2.<% #.?$% ,$-'*64&$.-
$,'0$-2'39% /#'3% *$/7)-:% '3% ()-2$0% F< ?.46)&'=./')*9%.*0%3)2$%#.?$%,-)2'*$*/
:$-./'*1G% .*0% :$-./'*1GU8% L*% $,'0$-1 ,$-'*64&$.-% 3#$&&38% O*% $&$4/-)*% 2'4-)31
2)&</'4% #<,$-:$-./)3'39% (.'&6-$% )(% /#'3 !"#$%!&%#'%&#&*e,"-G' 4),<9% /#$-$% .-$% 4)*4$*/-'49% 6*F-):$*
*$/7)-:% &$.03% /)% :$-./'*)4</$% (-.+'&'/< &)"!&%*$,l."1'2l)&%/&%+.$#"# 3#$&&3% )(% /)*);&.2$*/3% 36--)6*0'*+% /#$
@,.-/'46&.-&<% )(% /#$% 6,,$-% $,'0$-2'3C9 *64&$638%[/60<%)(%.%/#-$$1+$*$-./')*%(.21
"ON4N9AJ<J'e>77AJ5'AK'#<8B86J '&<% 7'/#% '4#/#<)3'3% #<3/-'I% )(% A6-/#% .*0
$.3<% F&'3/$-'*+9% .F*)-2.&% $,'0$-2.&% :'1
*$/'43% @#<,$-,-)&'($-./')*C9% .*0% /#'4:1 L4#/#<)3'3% F6&&)3.% )(% ['$2$*3% @OSLS S.4:&'*%'0$*/';$0%.%26/./')*%'*%/#$%?.-'1
$*$0% 3/-./62% 4)-*$62% @#<,$-:$-./)1 tGN`XUUC% '3% .% -.-$% .6/)3)2.&% 0)2'*.*/ .F&$% /.'&% 0)2.'*% @lQC% )(% /#$% :$-./'*1G
3'3C8% e$-./'*1GU% '3% /#$% 4)1$I,-$33$0 +$*)0$-2./)3'3%/#./%'3%3'2'&.-%'*%4&'*'4.& +$*$8% [/-64/6-.&% .*.&<3$3% )(% /#$% -$36&/'*+
,.-/*$-% )(% :$-./'*1G9% F)/#% )(% 7#'4#% .-$ .,,$.-.*4$%/)%$,'0$-2)&</'4%#<,$-:$-.1 :$-./'*1G%.F*)-2.&'/<%3#)7$0%.%(.'&6-$%)(
-$56'-$0% /)% ()-2% :$-./'*% '*/$-2$0'./$ /)3'38%E./'$*/3%.-$%F)-*%7'/#%-$0*$33%.*0 :$-./'*% '*/$-2$0'./$% ;&.2$*/% F6*0&'*+9
;&.2$*/3% '*% /#$% 4$&&3% )(% /#$% 36,-.F.3.& F&'3/$-'*+8%"#$%-$0*$33%36F3'0$3%)?$-%/#$ -$/-.4/')*% )(% /#$% 4</)3:$&$/)*% (-)2% /#$
&.<$-3% )(% /#$% $,'0$-2'3% @3$$% A#.,8% NNC8 36F3$56$*/%7$$:3%/)%2)*/#3%7#'&$%/#$ *64&$639%.*0%(.'&6-$%)(%&)4.&'=./')*%)(%&)-'1
g$*$/'4% &'*:.+$% 3/60'$3`U% .*0% 3$56$*41 3:'*%0$?$&),3%0.-:%+-.<%#<,$-:$-./)3'39 4-'*%/)%0$32)3)2.&%,&.56$38`V
'*+%)(%/#$%:$-./'*1G%.*0%:$-./'*1GU%+$*$3 ,.-/'46&.-&<%)?$-%\$I6-.&%.-$.38%L*%3)2$
)(%.%*62F$-%)(%$,'0$-2)&</'4%#<,$-:$-1 .-$.39%/#$-$%2.<%F$%.%&'4#$*';$0%.,,$.-1
+66>75='&H<I8=BA794<O'&=94N8B5
./)3'3%(.2'&'$3%#.?$%'0$*/';$0%26/./')*3 .*4$%/)%/#$%3:'*8%H3%7'/#%$,'0$-2)&</'4
'*% $'/#$-% :$-./'*1G% )-% :$-./'*1GU8W`9W!% L* #<,$-:$-./)3'39% /#$% $,'0$-2'3% '3% (-.+'&$Z H**6&.-%$,'0$-2)&</'4%$-</#$2.%@4<4&'4
2)3/%4.3$39%,.&2.-%,&.*/.-%'*?)&?$2$*/ #)7$?$-9% /#$% (-.+'&'/<% '3% 2)-$% 36,$-;1 '4#/#<)3'3% 7'/#% $,'0$-2)&</'4% #<,$-1
'2,&'$3%26/./')*3%'*%:$-./'*1GZ%/#'3%2.< 4'.&8%"#'3%4.*%-$36&/%'*%&)33%)(%/#$%6,,$-1 :$-./)3'3C% @OSLS% t`U!`UQC% ,-$3$*/3% ./
-$\$4/% /#$% ]-$06*0.*4<^% )(% :$-./'*1T% @. 2)3/% $,'0$-2'3% @,-$0)2'*.*/&<% 3/-.1 F'-/#% )-% '*% /#$% ;-3/% ($7% 2)*/#3% .(/$-1
:$-./'*% /#./% )446-3% )*&<% '*% /#$% 36,-.1 /62%4)-*$62C9%<'$&0'*+%.%4#.-.4/$-'3/'49 7.-0% 7'/#% 3$?$-$9% '*/$-2'//$*/% 34.&'*+
F.3.&% $,'0$-2'3% )(% ,.&2.-% .*0% ,&.*/.- 4)&&.-$//$1&':$% 0$,-$33$0% .-$.% /#./% #.3 .*0% F&'3/$-'*+% /#./% -$3)&?$3% 06-'*+% ,61
3:'*C% .*0% :$-./'*1GU% '*% ,.&2.-d,&.*/.- F$$*% 0$34-'F$0% .3% ]2.63$-6*+^% @2)&/1 F$-/<8`N% a$3'06.&9% &'2'/$0% /#'4:$*$0
;>;
3$&(1#$.&'*+%4)&&)0')*%F.F<%#.3%F$$*%0$1
34-'F$09%7#$-$%/#$%3:'*%4&$.-3%7'/#'*%/#$
;-3/%($7%7$$:3%.*0%/-.*3'/')*3%'*/)%*)-1
2.&%3:'*%/#$-$.(/$-8NX%H%3IK;%26/./')*
3$*3'/'?$% /)% '*4-$.3$% #<0-)3/./'4% ,-$31
36-$% @364#% .3% 2'+#/% F$% ()6*0% '*% 6/$-)C
#.3%F$$*%()6*0%'*%)*$%(.2'&<%7'/#%/7)
.(($4/$0% 4#'&0-$*% 7'/#% .% #'3/)-<%)(% 3$&(1
#$.&'*+%4)&&)0')*%2$2F-.*$38`T
"#$% *$7F)-*% .(($4/$0% 7'/#% )*$% )(
/#$% 2)-$% 3$?$-$9% +$*$-.&'=$0% /<,$3% )(
$,'0$-2)&</'4% #<,$-:$-./)3'3% 636.&&<
#.3% $-</#$2.9% F&'3/$-'*+9% 7'0$3,-$.0
$-)3')*39% .*0% 0$*60$0% 3:'*8% c$4.63$
/#$-$%'3%.%#'+#%(-$56$*4<%)(%*$7%26/.1
/')*39% /#$% 0'3$.3$% 2.<% F$% 6*$I,$4/$09
78.9:$-;"<@ 1A77AI<A6'C5C9;'.N8'<6K564'<J'b`'NA>=J'A7I'56I'<J'OAL8=8I'P<4N'5'B5O8=548I'B8BC=568 .*0% /#$% 0'.+*)3'3% 2.<% F$% 6*:*)7*8
B,'0$-2)&<3'3% F6&&)3.% )-% 3/.,#<&)4)41
4N54'JNAPJ'TJJ>=8JY'6A48'8O4=AH<A6'56I'8O75C<>B;'.N8'OA6I<4<A6'B59'I8L87AH'AL8='4<B8'<64A'L5=<A>J'O7<6@
4.&% 34.&0$013:'*% 3<*0-)2$% 2.<% F$% 3631
<O57' HN86A49H8JQ' <6O7>I<6?' 5>4AJAB57' =8O8JJ<L8' OA6?86<457' <ON4N9AJ<J' 56I' J87K@N857<6?' OA77AI<A6' C5C9
,$4/$09%.*0%/#$%'*(.*/%/-$./$0%7'/#%.*/'1
WJ88 .5C78'3c@^X; F')/'438% "#$% *$7F)-*% 2.<% -$56'-$
'*/$*3'?$%4.-$%7'/#%\6'0%.*0%$&$4/-)&</$
,&.56$3%)(%?$--64)63%34.&$%'*%&'*$.-%-)73 3#)6&0% F$% 63$08% H,,-),-'./$% ,.'*% 2.*1 2)*'/)-'*+8% [,$4'.&'=$0% 3:'*% 4.-$% 4.*
4.*%F$%3$$*%'*%\$I6-.&%.*0%'*/$-/-'+'*)63 .+$2$*/% .*0% $<$% 4.-$% 3#)6&0% F$% $21 2'*'2'=$% F&'3/$-'*+% .*0% $*#.*4$% #$.&1
3:'*8% L*% 3)2$% 4.3$39% $I,&)3'?$% F)6/3% )( ,&)<$09% 7#$*% '*0'4./$08% "#$3$% *$71 '*+%)(%$-)3')*3%.*0%3#)6&0%'*4&60$%&6F-'1
7'0$3,-$.0% $-</#$2.% 7'/#% F&'3/$-3% .*0 F)-*3%636.&&<%F$*$;/%(-)2%.%#62'0';$0 4./')*% @/)% 0$4-$.3$% (-'4/')*% .3% 7$&&% .3
,63/6&$3% .-$% 3$$*8`W% E./'$*/3% 36F3$1 '*46F./)-% 7#$-$% /#$% .'-% '3% 3./6-./$0 2$4#.*'4.&%/-.62.C9%,-)/$4/'?$%,.00'*+9
56$*/&<% 0$?$&),% 7'0$3,-$.09% 2'+-.1 7'/#% 7./$-Z% 7$/% 4)2,-$33$3% ()&&)7$0 .*0% 3,$4'.&'=$0% 7)6*0% 0-$33'*+38% "#$
/)-<9% ,)&<4<4&'49% .*0% .**6&.-% 34.&'*+ F<% F&.*0% &6F-'4.*/3% 4.*% F$% 63$0% /)% (6-1 *$7F)-*% 7'/#% $I/$*3'?$% $-)3')*3% '3
,&.56$38% D'+#/% .*0% $&$4/-)*% 2'4-)34),< /#$-%#<0-./$%/#$%2$2F-.*$%.*0%.4#'$?$ ,-)*$% /)% F.4/$-'.&% '*($4/')*% .*0% 3$,3'39
-$?$.&3%;*0'*+3%)(%$,'0$-2)&</'4%#<,$-1 2.I'262%,&'.F'&'/<8`X%L(9%06-'*+%,$$&'*+9 .*0% 4.-$(6&&<% 4#)3$*% /),'4.&% .*0% 3<31
:$-./)3'38% S6/./')*3% '*% /#$% -)0% ,)-/')* -$3'06.&% .-$.3% )(% /#$% 2$2F-.*$% .-$% .&1 /$2'4% .*/'F')/'43% 4.*% 2'*'2'=$% /#$% $I1
)(% :$-./'*1GU``% .*0% /#$% #$&'I% /$-2'*.1 &)7$0% /)% 0-<% .*0% #.-0$*% '*% .-$.3% 364# /$*/%)(%'*($4/')*8
/')*%)(%:$-./'*1G`W%#.?$%F$$*%()6*08 .3% /#$% $I/-$2'/'$39% /#$% /.6/% 2$2F-.*$
4.*%4)*3/-'4/%.*0%&$.0%/)%0'3/.&%37$&&'*+8
A)&&)0')*%,-$3$*/./')*%4.*%0$?$&),%'*/) 25=78\><6'"ON4N9AJ<J
"12.2l$#"#'"-'.2&'-&Fe$%- .% 7'0$% 3,$4/-62% )(% '4#/#<)/'4% ,#$*)1 H% 0-.2./'49%3$?$-$9%.*0%)(/$*%(./.&%,-$1
/<,$3%.3%/#$%4#'&0%+-)73%@3$$%".F&$%N!1WC8 3$*/./')*% )(% '4#/#<)3'3% '3% /#./% )(% #.-&$1
1A77AI<A6'e5C9 L*% .00'/')*9% .*% .6/)3)2.&% -$4$33'?$9 56'*% '4#/#<)3'3% @OSLS% tQNQWUU9% M'+8
H% 4)&&)0')*% F.F<% '3% /#$% 636.&% ,-$3$*/.1 N!1GUC8%"#$%4#'&0%'3%)(/$*%,-$2./6-$%.*0
/')*% )(% HaAL% @M'+8% N!1TC8% D$33% 4)21 !"#$%&'0(+ F)-*%7'/#%2.33'?$9%3#'*<%,&./$3%)(%3/-.1
2)*&<9%.%4)&&)0')*%,-$3$*/./')*%4.*%.&3) 0+,2)-(),&8,,2O+$*(-&\+*/& /62%4)-*$62%3$,.-./$0%F<%0$$,9%-$0%;31
F$% 3$$*% '*% '*(.*/3% 7'/#% 3$?$-.&% )/#$- C2HH2-+2%&=(#1)$%( 36-$3% /#./% /$*0% /)% ()-2% +$)2$/-'4% ,./1
()-23%)(%'4#/#<)3'3%.*09%-.-$&<9%g.64#$- q +&1'J96I=AB8 /$-*39% .3% 3$$*% '*% /#$% ,./4#$0% 4)3/62$3
0'3$.3$% @".F&$% N!1WC8% "#$% 4#'&0% '3% F)-* q +>4AJAB57'=8O8JJ<L8'OA6?86<457'<ON4N9AJ<J' )(%/#$%#.-&$56'*%4&)7*3%(-)2%/#$%L/.&'.*
$*4.3$0%'*%.%/-.*3&64$*/9%,.-4#2$*/1&':$ W75B8775='<ON4N9AJ<JQ'OA6?86<457'<ON4N9AJ<@ A)22$0'.% 0$&&KH-/$% 0./'*+% (-)2% /#$
2$2F-.*$% /#./% '3% /.6/% .*0% 2.<% '2,.'- KA=B'8=94N=AI8=B5Q'AL8=75HX 3'I/$$*/#% .*0% 3$?$*/$$*/#% 4$*/6-'$38
-$3,'-./')*% .*0% 364:'*+8% "#$% 3,$4/-62 "#$-$% .-$% ,))-&<% 0$?$&),$0% )-% .F3$*/
q 1NA6I=AI9JH75J<5'H>6O4545'
)(%'*?)&?$2$*/%'3%,-)F.F&<%?.-'.F&$9%F6/ $.-3% .*0% 2.-:$0% $4/-),')*% .*0
q G5>ON8='I<J85J8
#.3% *)/% F$$*% 7$&&% 4#.-.4/$-'=$08% L*% .01 $4&.F'628%"#$%;-3/%-$,)-/%'3%(-)2%/#$%0'1
q ,A=<O=<6'R8=54AI8=B55
0'/')*9% /#$% F'-/#% '3% )(/$*% ,-$2./6-$9 .-<% )(% a$?8% O&'?$-% f.-/9% )(% A#.-&$3/)*9
q -8>4=57'7<H<I'J4A=5?8'I<J85J8
7#'4#% .003% /)% 2)-F'0'/<8% _6-'*+% /#$ [)6/#% A.-)&'*.9% 7#)% 0$34-'F$0% /#$3$
q #87K@N857<6?'OA77AI<A6'C5C9
;-3/% Q% 7$$:3% )(% &'($9% /#$% 2$2F-.*$ ($./6-$3%'*%G!WU8!U%"#$3$%4#'&0-$*%.-$%./
q #Ut?=86@,5=JJA6'J96I=AB8
F-$.:3% 6,% .*0% ,$$&3% )((9% )(/$*% &$.?'*+ +-$./% -'3:% 06-'*+% /#$% *$)*./.&% ,$-')0
q .=<ONA4N<AI9J4=AHN9
;336-$39%7'/#%'2,.'-2$*/%)(%/#$%F.--'$- .*0%)(/$*%0'$%3#)-/&<%.(/$-%F'-/#8%HF*)-1
q p@7<6R8I'N9HAN<I=A4<O'8O4AI8=B57'I9JH75J<5
/)% '*($4/')*% .*0% 7./$-% &)338% "#'3% 4.* 2.&% 7./$-% &)33% /#-)6+#% /#$% 3:'*% .*0
&$.0%/)%0'(;46&/'$3%'*%/#$-2.&%-$+6&./')*9 q $4N8=
,))-%/$2,$-./6-$%-$+6&./')*%&$.0%/)%-'3:
.*% '*4-$.3$0% -'3:% )(% '*($4/')*9% .*0% #<1 5*>4<754<6?'R8=54AI8=B5'P<4N'<ON4N9AJ<J'WEANP<6R87' )(% \6'0% .*0% $&$4/-)&</$% '2F.&.*4$8% "#$
,$-*./-$2'4% 0$#<0-./')*8`!% P$7F)-* J96I=AB8'P<4NA>4'I85K68JJX; '*(.*/3% .-$% .&3)% ./% -'3:% ()-% '*($4/')*% F$1
4.-$% 3#)6&0% '*4&60$% 4.-$(6&% 2)*'/)-'*+ +&1'i'76R97AC78HN5=A6@&O4AI8=B57'I8K8O4@8 78K4 +'**'*+%'*%/#$%3:'*9%F6/%./%/#$%3.2$%/'2$
)(% /$2,$-./6-$9% #<0-./')*9% $&$4/-)&</$39 7<H'56I]A='H57548; @F$4.63$% )(% ,))-% /$2,$-./6-$% -$+6&.1
-A48D'.N<J'45C78'IA8J'6A4'I<J4<6?><JN'4N8'K=8\>86O9'
.*0%()-%'*($4/')*8%S$.36-$3%/)%:$$,%/#$ <6'PN<ON'OA77AI<A6'B8BC=568'<J'KA>6I'<6'4N8'I<KK8=@ /')*C%0)%*)/%3#)7%/#$%636.&%3'+*3%)(%'*1
,$$&'*+%2$2F-.*$%3)(/%.*0%&6F-'4./$0%/) 864'I<JA=I8=J'7<J48I;'"6'JAB8'O5J8JQ'J8L8=8'H887<6?' ($4/')*8% P)-2.&% -$3,'-./')*% 2.<% F$% -$1
(.4'&'/./$% \$I'F'&'/<% .*0% 0$356.2./')* B59'C8'B<J45R86'KA='OA77AI<A6'B8BC=568;Z`c 3/-'4/$0% F<% /#$% /.6/% 3:'*8% "-$./2$*/
;>#
.*0% &<2,#)'0% /'336$39% .*0% 2.<% F$% '21
,)-/.*/%'*%/#$%0)7*-$+6&./')*%)(%'*\.21
2./)-<% ,./#7.<38% "#'3% 0'34)?$-<% #'+#1
&'+#/3%/#$%'2,)-/.*4$%)(%/#$%-$+6&./')*%)(
,-)/$)&<3'3% '*% /#$% )?$-&.,% F$/7$$*% $,'1
/#$&'.&%F.--'$-%(6*4/')*%.*0%/#$%#<,$-3$*1
3'/'?'/<% )(% ./),<8% [6F3$56$*/&<9% DBe"L
7.3%.33)4'./$0%7'/#%4)22)*%./),<%.*0
./),'4% 0$-2./'/'38XV% E-$*./.&% /$3/'*+% ()-
P$/#$-/)*% 3<*0-)2$% 63'*+% 2)&$46&.-
0./.% #.3% F$$*% 3644$33(6&&<% .44)21
,&'3#$08XN%".4-)&'263%)'*/2$*/9%.%/),'4.&
'226*)36,,-$33.*/9%'3%$(($4/'?$%'*%4)21
2)*%./),'4%0$-2./'/'3%7'/#%2'*'2.&%3<31
/$2'4% .F3)-,/')*8% f)7$?$-9% P$/#$-/)*
3<*0-)2$%'3%4)2,&'4./$0%F<%.*%.F*)-2.&
78.9:$-;"<>I 25=78\><6'<ON4N9AJ<J;'-A48'=>I<B8645=9'85=J'56I'4N8'I<J4A=48I'5HH85=56O8'5J'5'=8J>74 3:'*% F.--'$-9% .&&)7'*+% '*4-$.3$0% ,$-46/.1
AK'4N8'4N<OR'fH7548Jg'AK'J4=54>B'OA=68>B;'.N<J'C5C9'I<8I'5'K8P'I59J'5K48='C<=4N; *$)63%.F3)-,/')*%.*0%.33)4'./$0%-'3:%()-
3<3/$2'4% /)I'4% $(($4/38% "#'3% 3#)6&0% F$
7'/#%3<3/$2'4%-$/'*)'03%06-'*+%/#$%*$71 .*0% 3$-,'+'*)63% $-</#$2./)63% ,&.56$3 4)*3'0$-$0% 7#$*% 63'*+% /),'4.&% .+$*/3
F)-*%,$-')0%4.*%(.4'&'/./$%0$356.2./')* 7'/#% .% 4#.-.4/$-'3/'49% 2'+-./)-<9% 0)6F&$1 364#%.3%/.4-)&'2639%7#$-$%2)*'/)-'*+%)(
)(%/#$%2$2F-.*$8!G9!Q%H0?.*4$3%'*%*$)1 $0+$0%34.&$%./%/#$%2.-+'*3%@M'+8%N!1GGHC8 3$-62% &$?$&3% 2.<% F$% *$4$33.-<9XW% .*0
*./.&%'*/$*3'?$%4.-$9%/)+$/#$-%7'/#%(.4'&'1 H/% F'-/#9% .(($4/$0% 4#'&0-$*% 2.<% ,-$3$*/ /),'4.&% 3/$-)'039% 7#$-$% './-)+$*'4% A63#1
/./'*+%0$356.2./')*%F<%>60'4')63%63$%)( 7'/#% +$*$-.&'=$0% $-</#-)0$-2.8% L*(.*/3 '*+%3<*0-)2$%#.3%F$$*%-$,)-/$08X`
3<3/$2'4% -$/'*)'0% /#$-.,<9% #.?$% &$0% /) .*0%4#'&0-$*%2.<%#.?$%($$0'*+%,-)F&$239
'2,-)?$2$*/3%'*%36-?'?.&%.*0%/)%/#$%63$ 7'/#% ,))-% .F3)-,/')*% .*0% (.'&6-$% /)
#Ut?=86@,5=JJA6'#96I=AB8
)(% /#$% *.2$% $('-%Z9"!1 L(L/% -./#$-% /#.* /#-'?$8XG% Y'/#% ./),'4% 0$-2./'/'39% /#$-$
$('-%Z9"!1 .%&9)8% [)2$% F.F'$3% #.?$% 36(1 2.<%F$%,-6-'/639%.*0%34-./4#'*+%4.*%&$.0 L*%GTW!9%[>v+-$*%.*0%D.-33)*%-$,)-/$0%)*
($-$0% (-)2% (.'&6-$% /)% /#-'?$% .*0% -$56'-$ /)%&'4#$*';4./')*%./%/#$%\$I6-$38%L*%3)2$ GV% (.2'&'$3% (-)2% *)-/#% [7$0$*% 7'/#% .
/6F$% ($$0'*+8% "#$% 3:'*% )(% /#)3$% 7#) ,./'$*/39%/#$%'4#/#<)3'3%-$3$2F&$3%&.2$&1 3<*0-)2$%)(%4)*+$*'/.&%'4#/#<)3'39%3,.31
36-?'?$% /#$% *$7F)-*% ,$-')0% 636.&&<% -$1 &.-%'4#/#<)3'3%)-%ALB8W9!T%f'3/),./#)&)+'4 /'4% ,.-.&<3'39% .*0% 2$*/.&% -$/.-0./')*8
3$2F&$3%.%3$?$-$%,#$*)/<,$%)(%ALB8!G9!Q $I.2'*./')*% '3% *)/% 3,$4';4% .*0% 2.< [>v+-$*1D.-33)*% 3<*0-)2$% @[D[Z% OSLS
L*%#.-&$56'*%'4#/#<)3'39%*)-2.&%&.2$&1 3#)7% ($./6-$3%)(% #<,$-:$-./)3'39%,3)-'.1 tQ!UQUUC% '3% .% -.-$9% .6/)3)2.&% -$4$33'?$
&.-%+-.*6&$3%.-$%*)/%()6*0Z%'*3/$.09%/#$-$ 3'39% .*0%./),'4%0$-2./'/'38% S)3/% ,./'$*/3 0'3)-0$-% /#./% ,-$3$*/3% ./% F'-/#% 7'/#% .*
.-$%32.&&%?$3'4&$3%/#./%&.4:%'*/$-*.&%3/-641 #.?$% .% 3,$4';4% #.'-% 3#.(/% .F*)-2.&'/< '4#/#<)3'3%/#./%2.<%-.*+$%(-)2%;*$%34.&1
/6-$8% "#$-$% '3% .&3)% *)% $?'0$*4$% )(% /#$ 4.&&$0 &'"#$7''$%S")1"!8(0"!(&(9%'*%7#'4#%/#$ '*+% /)% +$*$-.&'=$0% #<,$-:$-./)3'38% B-<1
&','0%&.2$&&.$%/#./%()-2%F$/7$$*%+-.*61 0'3/.&%#.'-%3$+2$*/%'3%/$&$34),$0%'*/)%/#$ /#$2.%2.<%F$%,-$3$*/%./%F'-/#%F6/%/$*03
&.-% .*0% 4)-*';$0% 4$&&3% .3% .% -$36&/% )(% 0'31 ,-)I'2.&%)*$9%()-2'*+%.%F.&&1.*013)4:$/J /)%+-.06.&&<%4&$.-%F<%G%<$.-%)(%.+$8%A)&&)1
4#.-+$% )(%&.2$&&.-% +-.*6&$% 4)*/$*/3% '*/) &':$% 0$()-2'/<% )*% 2'4-)34),'4% $I.2'*.1 0')*1&':$% 2$2F-.*$3% .-$% -.-$&<% 3$$*8
/#$% '*/$-4$&&6&.-% 3,.4$8!V% O446--$*4$% )( /')*%@3$$%M'+8%N!1GGcC8%"#'3%'3%.&3)%:*)7* "#$% '4#/#<)3'3% 2.*'($3/3% .3% ;*$% 34.&$9
#.-&$56'*% '4#/#<)3'3% '*% 4)*3.*+6'*$)63 .3%]F.2F))%#.'-^%.*0%'3%06$%/)%.F*)-2.& &.-+$%34.&$9%)-%.%/#'4:$*'*+%)(%/#$%3/-./62
(.2'&'$3%36++$3/3%.6/)3)2.&%-$4$33'?$%'*1 4)-*';4./')*% )(% /#$% '*/$-*.&% -))/% 3#$./#8 4)-*$62%7'/#)6/%34.&$%.*0%2.<%F$%,-61
#$-'/.*4$8!N%S6/./')*3%'*%4A?4;N9%7#'4# f.'-% (-)2% 26&/',&$% .-$.3% 3#)6&0% F$% $I1 -'/'48% "#'4:$*$0% .-$.3% 2.<% F$% <$&&)7% /)
4)0$3% ()-% .*% .0$*)3'*$% /-',#)3,#./$1 .2'*$09% F$4.63$% )*&<% QU% ,$-4$*/% /)% WU F-)7*%'*%4)&)-%.*0%#.?$%.%&'4#$*';$0%.,1
F'*0'*+% 4.33$//$% /-.*3,)-/$-% '*?)&?$0% '* ,$-4$*/%)(%#.'-%2.<%F$%.(($4/$09%.*0%/#$ ,$.-.*4$% 7'/#% .44$*/6./$0% 3:'*% 2.-:1
&.2$&&.-%+-.*6&$%3$4-$/')*%.*0%$,'0$-2.& 4#.-.4/$-'3/'4% .F*)-2.&'/<% 2.<% F$% @3$$ '*+38% "#$% 2)3/% '*?)&?$0% .-$.3% .-$% /#$
&','0%/-.*3,)-/9%#.?$%F$$*%3#)7*%/)%6*1 A#.,8%X`C%2)-$%4)22)*&<%)F3$-?$0%)* 3'0$3%.*0%F.4:%)(%/#$%*$4:9%&)7$-%.F0)1
0$-&'$% #.-&$56'*% '4#/#<)3'38!WJ!!% S6/.1 $<$F-)7% #.'-8XQ% "-'4#)--#$I'3% *)0)3. 2$*9% .*0% \$I6-$38% f.'-9% *.'&39% .*0% /#$
/')*3% '*% 4A?4;N% #.?$% .&3)% F$$*% '0$*/'1 .*0%,'&'%/)-/'%2.<%.&3)%)446-8%"#$%#.'-%0$1 .F'&'/<% /)% 37$./% .-$% +$*$-.&&<% *)-2.&8X!
;$0%'*%.%36F3$/%)(%'*0'?'06.&3%7'/#%HaAL ($4/3%2.<%*)/%F$%0$/$4/.F&$%./%F'-/#9%.*0 _6-'*+% /#$% ;-3/% Q% /)% V% <$.-39% *$6-)&)+'4
@3$$ ".F&$%N!1VC8!X 2.<%0'3.,,$.-%7'/#%.+$8%H/),<%'*%/#$3$ 2.*'($3/./')*3% )(% 3,.3/'4% 0',&$+'.% )-%/$/1
,./'$*/3%2.<%2.*'($3/%.3%./),'4%0$-2./'1 -.,&$+'.% .*0% 2$*/.&% -$/.-0./')*% 0$?$&),
/'39%.3/#2.9%)-%3$?$-$%())0%.&&$-+<%@,.-/'41 .*0% 4.*% F$% .44)2,.*'$0% F<% 3,$$4#% 0$1
,&##@1$**$-'"12.2l$#&# 6&.-&<%/)%*6/3C9%.*0%2.-:$0%$&$?./')*3%)( ($4/3% .*0% 3$'=6-$38% H% 4#.-.4/$-'3/'4% ),#1
3$-62% '226*)+&)F6&'*% B% 2.<% )446-8% L* /#.&2)&)+'4% ;*0'*+% '3% /#$% ,-$3$*4$% )(
-84N8=4A6'#96I=AB8
3)2$% ,./'$*/39% .% +$*$-.&'=$0% .2'*).41 +&'3/$*'*+%7#'/$%0)/3%'*%/#$%2.46&.%)(%/#$
P$/#$-/)*% 3<*0-)2$% @OSLS% tQW`WUUC '06-'.9% 2'&0% 0$?$&),2$*/.&% 0$&.<9% .*0 -$/'*.Z%/#$3$%)446-%.(/$-%G%<$.-%)(%.+$%.*0
'3% .% -.-$9% .6/)3)2.&% -$4$33'?$% 0'3)-0$- '2,.'-$0% 4$&&6&.-% '226*'/<% 2.<% .&3)% F$ 2.<%*)/%F$%,-$3$*/%'*%.&&%,./'$*/38%f'3/)1
4#.-.4/$-'=$0%F<%/#$%4)*46--$*4$%)(%'4#1 ,-$3$*/8% P$/#$-/)*% 3<*0-)2$% #.3% F$$* &)+'4% ;*0'*+3% )(% #<,$-:$-./)3'39% ,.,'&&)1
/#<)3'39%.%3/-64/6-.&%#.'-%3#.(/%.F*)-2.&1 ()6*0%/)%F$%06$%/)%26/./')*3%'*%FDCEX* 2./)3'39% .4.*/#)3'39% .*0% .% 2'&0&<% /#'4:1
'/<9% .*0% ./),<8!T9XU% "#$% 636.&% 46/.*$)63 Y9%.%+$*$%$*4)0'*+%DBe"L%@-<2,#)1%,'1 $*$0% +-.*6&.-% &.<$-% .-$% *)*13,$4';48
2.*'($3/./')*% '3% '4#/#<)3'3% &'*$.-'3% 4'-1 /#$&'.& X.=.&1&<,$% -$&./$0% "*#'F'/)-C8QG B&$4/-)*12'4-)34),'4%$I.2'*./')*%)(%/#$
462\$I.9%.%0'3/'*4/'?$%4)*0'/')*%)(%+$*1 DBe"L%'3%.% 3$-'*$%,-)/$.3$%'*#'F'/)-%/#./ 3:'*% 3#)73% &.2$&&.-% 2$2F-.*)63% '*4&61
$-.&'=$0% #<,$-:$-./)3'3% .*0% ,)&<4<4&'4 '3% ,-$0)2'*.*/&<% $I,-$33$0% '*% $,'/#$&'.& 3')*3%'*%/#$%+-.*6&.-%.*0%4)-*';$0%4$&&38%
;>6
C
78.9:$-;"<>> -84N8=4A6' J96I=AB8;' AB' "ON4N9AJ<J' 7<685=<J' O<=O>Bh8S5
JNAP<6?' 49H<O57' 566>75=' 78J<A6J;' WMJ8I' P<4N' H8=B<JJ<A6'K=AB' :5B8J' #4=A>IQ
A *!;X CB'e5BCAA'N5<='JN5K4'JNAPJ'K854>=8J'AK'4=<ONA==N8S<J'<6L5?<6545;
a'==)%$/%.&8%&'*:$0%[D[%/)%(.//<%.&4)#)&h ($./6-$3% .*0% ,#$*)/<,'4% ?.-'.F'&'/< 0$34-'F$0% '*% .% (.2'&<% '*% 7#'4#% /#$% $-<1
PH_% )I'0)-$064/.3$% @MHOC% 0$;4'$*4<8 7'/#'*%/#$3$%/7)%0$3'+*./')*38TQ /#$2./)63% 4)2,)*$*/% 7.3% '*% .% /.-+$/1
MHO%'3%.%4)2,&$I%$*=<2$%7'/#%/7)%3$,1 &':$% 4)*;+6-./')*8TN% L*% .% ,)33'F&$% 4&'*'4.&
.-./$%,-)/$'*3%/#./%3$56$*/'.&&<%4./.&<=$ $:UJS:PE$:AJP4$:V8A-]A:8AC8T8M B- <1 ?.-'.*/% )(% $-</#-):$-./)0$-2'.% $*% 4)1
/#$%)I'0./')*%)(%(.//<%.&4)#)&%/)%(.//<%.&1 /#-):$-./)0$-2'.%?.-'.F'&'3%@OSLS 4.-0$39% $-</#$2.% +<-./62% -$,$*3J&':$
0$#<0$% .*0% 36F3$56$*/&<% /)% (.//<% .4'08 tGVVQUUC9%0$34-'F$0%F<%S$*0$3%0.%A)3/. $-</#$2.%@3$$%A#.,8%GWNC%7.3%0$34-'F$0
M6-/#$-% 7)-:% '0$*/';$0% /#$% (.//<% .&0$1 '*%GTQW9%'3%.%-.-$%0'3)-0$-%/#./%636.&&< '*% .% &.-+$% :'*0-$08TW% H*)/#$-% (.2'&<
#<0$% 0$#<0-)+$*.3$% @MHD_fC% .4/'?'/< ,-$3$*/3%./%F'-/#%)-%06-'*+%/#$%;-3/%<$.- 7'/#% $-</#$2.% .**6&.-$% 4$*/-'(6+62J
'*% 46&/6-$0% ;F-)F&.3/3% (-)2% ,./'$*/3 )(%&'($8%c)/#%.6/)3)2.&%0)2'*.*/%.*0%-$1 &':$%&$3')*3%@3$$%A#.,8%NQC%#.3%.&3)%F$$*
7'/#% [D[% 4)2,)*$*/% .3% /#$% .(($4/$0 4$33'?$% '*#$-'/.*4$% #.?$% F$$*% 0$1 0$34-'F$08T`%H%4#'&0%7'/#%./<,'4.&%$-</#-)1
4)2,)*$*/% )(% MHO% '*% [D[8% MHD_f% '3% . 34-'F$08TV%H/%&$.3/%/7)%0'3/'*4/%4&'*'4.& :$-./)0$-2'.% 7'/#% *$6-)3$*3)-<% 0$.(1
2'4-)3)2.&% $*=<2$% /#./% 4./.&<=$3% /#$ ,-$3$*/./')*3%4.*%F$%0'3/'*+6'3#$08%O*$ *$339%F'&./$-.&%/.&',$3%@4&6F())/C%0$()-2'/<9
)I'0./')*%)(%2$0'621%.*0%&)*+14#.'*%.&1 /<,$%@M'+8%N!1GQC%'3%4#.-.4/$-'=$0%F<%+$*1 .*0% *$6-),./#<% 7.3% 0$34-'F$0% '*% 7#'4#
',#./'4%.&0$#<0$3%0$-'?$0%(-)2%2$/.F)1 $-.&'=$09%,$-3'3/$*/9%-$01F-)7*%#<,$-:$-1 /#$% $-</#$2./)63% 4)2,)*$*/% 4#.*+$0
&'32%)(%(.//<%.&4)#)&9%,#</.*'4%.4'09%$/#$- ./)/'4%,&.56$3%.*0%.44$*/6./$0%3:'* )*&<%3&)7&<%)?$-%/#$%<$.-8T!%B-</#-):$-.1
+&<4$-)&','039%.*0%&$6:)/-'$*$%cN8XX%S61 2.-:'*+38%H%3$4)*09%&)4.&'=$0%/<,$%#.3 /)0$-2'.% 7'/#% ./.I'.% @g'-)6I1c.-F$.6
/./')*3% ()6*0% '*% /#$% MHD_f% +$*$ '*?)&?$2$*/%/#./%'3%&'2'/$0%'*%$I/$*/%.*0 /<,$C% '3% .*% .6/)3)2.&% 0)2'*.*/% 0'3)-0$-
@4:@=;U9% -$4$*/&<% -$*.2$0% 4:@=[4NC 4#.-.4/$-'=$0%F<%3#.-,&<%0$2.-4./$09 /#./% ,-$3$*/3% 06-'*+% '*(.*4<% 7'/#% 7$&&1
)(% /#-$$% 6*-$&./$0% [D[% ,./'$*/3% 4)*1 #<,$-:$-./)/'4%,&.56$3Z%/#$3$%.-$%3<21 0$;*$09% 3<22$/-'4% #<,$-:$-./)/'4
;-2$0% /#$% -)&$% ()-% /#'3% $*=<2$% '*% /#$ 2$/-'4.&&<%.--.<$0%.*0%-$2.'*%-$&./'?$&< ,&.56$3 .*0%6*0$-&<'*+%$-</#$2.%0'3/-'F1
$/')&)+<% )(% /#'3% 0'3)-0$-% .*0% /#$% '2,)-1 ;I$0%()-%2)*/#3%/)%<$.-38%L*%/#$%&)4.&1 6/$0%)?$-%/#$%$I/$*3)-%36-(.4$ )(%/#$%$I1
/.*4$%)(%/#'3%,./#7.<%()-%*)-2.&%0$356.1 '=$0%/<,$9%/#$-$%2.<%F$%4)*3'0$-.F&$ /-$2'/'$38TX% [:'*% &$3')*3% -$+-$33% 06-'*+
2./')*8XT%S)3/%26/./')*3%.-$%3,$4';4%/) ?.-'.F'&'/<%F$/7$$*% .(($4/$0%(.2'&< .06&/#))0%7#'&$%.%,-)+-$33'?$%3,'*)4$-$1
(.2'&'$39% .&/#)6+#% 3$?$-.&% 4)22)*% 261 2$2F$-39%.*0%/#$%0'3)-0$-%2.<%*)/%F$ F$&&.-%./.I'.%0$?$&),38%
/./')*3%36++$3/%()6*0$-%$(($4/%)-%(.?)-$0 .,,.-$*/%6*/'&%&./$-%'*%&'($8%c)/#%/<,$3%.-$ c)/#% /#$% &)4.&'=$0% /<,$% )(% $-</#-)1
3'/$3%()-%26/./')*8TU 4#.-.4/$-'=$0%F<%3/-':'*+9%3#.-,&<%0$2.-1 :$-./)0$-2'.%?.-'.F'&'3%.*0%$-</#-):$-.1
"#$% '0$*/';4./')*% )(% 0$4-$.3$0% ;F-)1 4./$09%2'+-./)-<%-$0%,./4#$39%7#'4#%?.-<
F&.3/%MHO%.4/'?'/<%'*%.%(.2'&<%7'/#%./<,1 '*%3'=$%(-)2%.%($7%/)%2.*<%4$*/'2$/$-3
'4.&%46/.*$)63%;*0'*+3%@&.4:%)(%'4#/#<)1 .*0%.,,$.-%)-%-$+-$33%)?$-%2'*6/$3%/)
3'3% )-% 0'34-$/$% ,&.56$3% -./#$-% /#.* #)6-3Z%3)2$%'*0'?'06.&3%4)2,&.'*%)(
+$*$-.&'=$0% '4#/#<)3'3C% #.3% $I,.*0$0 F6-*'*+%./%/#$3$%3'/$39%.&/#)6+#%'*%)/#$-39
/#$% 3,$4/-62% )(% 4&'*'4.&% ,#$*)/<,$3% .31 /#$<%.-$%.3<2,/)2./'48%c)/#%/<,$3%)(
3)4'./$0%7'/#%.F*)-2.&%MHO%.4/'?'/<8TG 3:'*%&$3')*3%2.<%F$%/-'++$-$0%F<%/-.62.
/)%/#$%3:'*%)-%4#.*+$%'*%/$2,$-./6-$8%E.&1
2),& .*/.-% #<,$-:$-./)3'3% 2 .<% F$
&=94N=AR8=54AI8=B<5J
,-$3$*/%'*%$'/#$-%/<,$9%F6/%#.'-9%*.'&39%.*0
"#$% $-</#-):$-./)0$-2'.3% .-$% .% 4&'*'1 264)63%2$2F-.*$3%.-$%6*.(($4/$08%f'31
4.&&<% .*0% +$*$/'4.&&<% #$/$-)+$*$)63 /),./#)&)+'4%($./6-$3%.-$%*)*13,$4';4
+-)6,%)(%0'3)-0$-3%4#.-.4/$-'=$0%F<%#<1 .*0%'*4&60$%#<,$-:$-./)3'39%.4.*/#)3'39
,$-:$-./)3'3% .*0% &)4.&'=$0% $-</#$2.8 ,.,'&&)2./)3'39%.*0%4.,'&&.-<%0'&././')*8
Y'/#'*% .% F-).0% 3,$4/-62% )(% ,#$*)1 B,'0$-2'3%'*?)&?$0%7'/#%3$?$-$%,.,'&&)1
/<,$39%./%&$.3/%/7)%0'3)-0$-3%4.*%F$%0$1 2./)3'3%.*0%36,-.,.,'&&.-<%/#'**'*+%2.<
&'*$./$0h% $-</#-):$-./)0$-2'.% ?.-'.F'&'3 -$36&/%'*%.%]4#6-4#%3,'-$^%.,,$.-.*4$8 78.9:$-;"<>= &=94N=AR8=54AI8=B<5' L5=<5C<@
.*0%,-)+-$33'?$%3<22$/-'4%$-</#-):$-.1 [$?$-.&% ?.-'.*/3% #.?$% F$$*% 0$34-'F$08 7<J;'G868=57<V8I'49H8'P<4N'P<I8JH=85I'N9H8=R8=5@
/)0$-2'.8%"#$-$%.-$%)?$-&.,,'*+%4&'*'4.& B-</#-):$-./)0$-2'.% $*% 4)4.-0$3% 7.3 4AJ<J'56I'B<?=54A=9Q'T?>=548Q'=8I'H54ON8J;
;>"
/)0$-2'.%7'/#%./.I'.%#.?$%F$$*%2.,,$0 "4#/#<)3'39%.*0%6$.(*$33%@*$6-)3$*3)-<C8 *$I'*1Q`9%'*%$'+#/%3,)-.0'4%4.3$3%.*0%)*$
/)% .% 4)22)*% -$+')*% @4#-)2)3)2$ L*?)&?$2$*/%)(%26&/',&$%$4/)0$-2.&%/'31 (.2'&<% 7'/#% eL_% 3<*0-)2$8% M6*4/')*.&
G,VN1VWC8TT% [6F3$56$*/&<9%a'4#.-0% $/%.&8 36$3%56.&';$3%eL_%3<*0-)2$%.3%.*%$4/)1 3/60'$3% )(% 4$&&3% $I,-$33'*+% 26/./$0% 4)*1
()6*0% 26/./')*3% '*% IBA[9% /#$% +$*$% $*1 0$-2.&% 0<3,&.3'.8% S)3/% 4.3$3% .-$% 4)21 *$I'*1Q`% 0$2)*3/-./$0% (.'&6-$% )(% .% \6)1
4)0'*+% 4)**$I'*1VG9% '*% ()6-% (.2'&'$3 ,./'F&$% 7'/#% .6/)3)2.&% 0)2'*.*/ -$34$*/% /-.4$-% /)% ,.33% /#-)6+#% +.,% >6*41
7'/#% $-</#-):$-./)0$-2'.% ?.-'.F'&'38GUU '*#$-'/.*4$8% f)7$?$-9% )446--$*4$% '*% .* /')*% 4#.**$&3% /)% *$'+#F)-'*+% 4$&&39
A)**$I'*3%.-$%.%(.2'&<%)(%,-)/$'*3%/#./ '*F-$0%3'F3#',%36++$3/3%/#$%$I'3/$*4$%)( 4)*3'3/$*/%7'/#%0'3-6,/')*%)(%'*/$-4$&&6&.-
()-2% +.,% >6*4/')*39% 7#'4#% .-$% '2,)-1 .*% .6/)3)2.&% -$4$33'?$% ()-28% "#$% 0'31 4)226*'4./')*8QQ%_'(($-$*/%26/./')*3%'*
/.*/%4#.**$&3%()-%'*/$-4$&&6&.-%4)226*'1 $.3$% '3% 4#.-.4/$-'=$0% F<% 0'34-$/$% $-<1 /#$%3.2$%+$*$%@IBANC%$*4)0'*+%4)**$I'*1
4./')*8% "#'3% '*/$-4$&&6&.-% 3'+*.&'*+% 3<31 /#$2./)63%,&.56$39%.*0%/#$-$%2.<%F$%. Q`%#.?$%.&3)%F$$*%()6*0%'*%.%(.2'&<%7'/#
/$2% '3% 4-64'.&% ()-% 2.'*/.'*'*+% /'336$ 2'&09% +$*$-.&'=$0% #<,$-:$-./)3'38% "#$ .% 26/'&./'*+% ,.&2),&.*/.-% :$-./)0$-2.
#)2$)3/.3'39% +-)7/#% 4)*/-)&9% 0$?$&),1 0'3/'*4/'?$% ,&.56$3% 2.<% #.?$% .% 0'34-$/$ @l)#7'*:$&% 3<*0-)2$C% .*0% 0$.(*$33
2$*/9%.*0%3<*4#-)*'=$0%-$3,)*3$%)(%4$&&3 F)-0$-%.*0%.%?$--64)63%.,,$.-.*4$%7'/# @7'/#)6/% '4#/#<)3'3CGU!% @0'34633$0% '*
/)% 3/'26&'8% "#$% '0$*/';4./')*% )(% 4)*1 4-63/'*+%.*0%2.<%F$%4)*3,'46)63&<%;+61 A#.,8% NXC9% .*0% .% 26/./')*% '*% IBA\9% /#$
*$I'*%26/./')*3%.3%/#$%4.63$%)(%$-</#-)1 -./$% .*0% 3<22$/-'4% )*% /#$% (.4$% @M'+8 +$*$% ()-% 4)**$I'*1VU9% #.3% F$$*% 0$2)*1
:$-./)0$-2'.% ?.-'.F'&'3% '2,&'4./$3% /#'3 N!1GVC8% M6--)7'*+% .F)6/% /#$% 2)6/#% -$1 3/-./$0% '*% )*$% 4#'&0% 7'/#% eL_% 3<*1
,./#7.<% '*% $,'0$-2.&% 0'(($-$*/'./')* 36&/3% '*% 4#.-.4/$-'3/'4% (.4$38% "#$-$% 2.< 0-)2$8GUX%A)**$I'*%,-)/$'*3%.++-$+./$%/)
.*0% '*%/#$%2$4#.*'32%)(%3:'*% -$3,)*3$ F$% ,-)2'*$*/% ()&&'46&.-% #<,$-:$-./)3'39 ()-2% +.,% >6*4/')*% 4#.**$&39% 7#'4#% 3,.*
/)% $I/$-*.&% (.4/)-38% _'(($-$*/% 26/./')*3 7#'4#%4.*%-$36&/%'*%.%34.--'*+%.&),$4'.%)( /#$% 4$&&% 2$2F-.*$% F$/7$$*% .0>.4$*/
'*% /#$% 3.2$% 4)**$I'*1VG% +$*$% @IBA[C /#$% 34.&,8% ]D$./#$-1&':$^% ,.&2.-d,&.*/.- 4$&&38% "#$3$% 4#.**$&3% .-$% \$I'F&$% 3/-641
#.?$%F$$*%()6*0%'*%)/#$-%,./'$*/3%7'/# :$-./)0$-2.% '3% .&2)3/% .&7.<3% 3$$*% @3$$ /6-$3% /#./% .-$% 4)*3/.*/&<% -$2)0$&$09%.*0
0$.(*$33%.*0%.&3)%'*%3)2$%7'/#%,$-',#1 $M'+8%N!1GV8G%'*%)*1&'*$%$0'/')*C8GU`%[$?$-.& $*.F&$% .% 0'-$4/% 4</),&.32'4% 4)**$4/')*
$-.&% *$6-),./#<8% S6/./')*3% '*% /#$% -$1 .6/#)-3% #.?$% 36++$3/$0% /#./% F$4.63$% /#$ /#./% .&&)73% /#$% ,.33.+$% )(% .% ?.-'$/<% )(
&./$0% 4)**$I'*1VU8V% @IBAVC% #.?$% F$$* ,&.56$3%0)%*)/%34.&$9%/#'3%0'3)-0$-%'3%2)-$ 32.&&%2)&$46&$3%F$/7$$*%4$&&38%"#$%'0$*1
()6*0% '*% )/#$-% (.2'&'$3% 7'/#% $-</#-)1 .446-./$&<% 0$3'+*./$0% .*% $-</#-):$-./)1 /';4./')*% )(% 26/./')*3% '*% /#$% +$*$3% $*1
:$-./)0$-2'.% ?.-'.F'&'3GUGZ% '*% /#$% ?.-'1 0$-2'.%-./#$-%/#.*%.*%'4#/#<)3'38W9GU`%%_$1 4)0'*+%.%?.-'$/<%)(%4)**$I'*%,-)/$'*3%#.3
.*/3%7'/#%$-</#$2.%+<-./62%-$,$*31&':$ 34-',/')*3% )(% *.'&% 4#.*+$3% ?.-<% (-)2% .F1 #'+#&'+#/$0% /#$% -)&$% )(% 4)**$I'*12$0'1
$-</#$2.% /#./% #.?$% F$$*% 3/60'$09% 4)*1 3$*/9% 0$&.<$0% .,,$.-.*4$% .(/$-% F'-/#9 ./$0%'*/$-4$&&6&.-%4)226*'4./')*%/#-)6+#
*$I'*1VU8V% 26/./')*3% .,,$.-% /)% F$ ./-),#'49%)-%F-'//&$%/)%/#'4:$*$09%7'/#%&)33 +.,% >6*4/')*3% '*% /#$% 0$?$&),2$*/% .*0
()6*0%$I4&63'?$&<8TV )(% )-% ]-)6+#^% 46/'4&$39% 36F6*+6.&% #<,$-1 2.'*/$*.*4$%)(%$4/)0$-2.&%/'336$38%A)*1
:$-./)3'39% .*0% &$6:)*<4#'.8% "#$% /$$/# *$I'*31Q`9% 1VU9% .*0% 1VG% .-$% $I,-$33$0% '*
R:P.:$MM8]$- MUVV$J:8D- $:UJS:PE$:A< 2.<%F$%32.&&8%H60'/)-<%$?):$0%,)/$*/'.& /#$%3/-./';$0%$,'/#$&'.%)(%/#$%4)4#&$.%.*0
JP4$:V8A E-)+-$33'?$% 3<22$/-'4% $-</#1 3/60'$3% .&&)7% 0$/$4/')*% )(% /#$% #$.-'*+ $,'0$-2'39% .*0% .F*)-2.&'/'$3% '*% /#$3$
-):$-./)0$-2'.% @OSLS% t`UQUV`C9% ;-3/ 0$;4'/% '*% '*(.*4<8% H(($4/$0% '*0'?'06.&3 ,-)/$'*3% 4.*% 4.63$% 3$*3)-'*$6-.&% #$.-'*+
0$;*'/'?$&<%0$34-'F$0%F<%_.-'$-%'*%GTGG9GUQ 4.*% #.?$% .*% '*4-$.3$0% 3634$,/'F'&'/<% /) '2,.'-2$*/%.*0d)-%3:'*%0'3)-0$-38GU
'3%4#.-.4/$-'=$0%F<%7$&&10$2.-4./$09%$-<1 F.4/$-'.&9%(6*+.&9%)-%?'-.&%'*($4/')*38%[56.1
/#$2./)639% #<,$-:$-./)/'4% ,&.56$3% /#./ 2)63% 4$&&% 4.-4'*)2.% )(% /#$% 3:'*% .*0
.-$% 3<22$/-'4.&&<% 0'3/-'F6/$0% )?$-% /#$ /)*+6$% #.3% .&3)% F$$*% -$,)-/$08% L*% 4)*1 %8KJ>B'!<J85J8
$I/-$2'/'$3% .*0% F6//)4:39% .*0% )(/$*% /#$ /-.3/% /)% 2.*<% )/#$-% '4#/#<)/'4% 4)*0'1 a$(362% 0'3$.3$% @#$-$0),./#'.% ./.4/'4.
(.4$8GUV%"#$%/-6*:%/$*03%/)%F$%3,.-$09%F6/ /')*39% /-$./2$*/% )(% /#$3$% ,./'$*/3% 7'/# ,)&<*$6-'/'()-2'3C%@OSLS%tQ``WUUC%'3%.
,.&23% .*0% 3)&$3% 2.<% F$% '*?)&?$08% "#$ )-.&%-$/'*)'03%#.3%F$$*%-$,)-/$0%/)%F$%)( -.-$9% ,-)+-$33'?$9% 0$+$*$-./'?$% 0'3)-0$-
,&.56$3% .,,$.-% 3#)-/&<% .(/$-% F'-/#9 &'//&$% F$*$;/% .*0% ,)33'F&<% /)% $I.4$-F./$ )(% &','0% 2$/.F)&'32% -$36&/'*+% (-)2% /#$
,-)+-$33% 3&)7&<% 06-'*+% /#$% ;-3/% ($7 /#$%4)-*$.&%*$)?.346&.-'=./')*8 (.'&6-$% /)% F-$.:% 0)7*% 0'$/.-<% ,#</.*'4
<$.-39% .*0% /#$*% 3/.F'&'=$% '*% $.-&<% 4#'&01 a'4#.-0%$/%.&8%0'34)?$-$0%0)2'*.*/%261 .4'0%.*0%'/3%36F3$56$*/%.44626&./')*%'*
#))08%"#$%,&.56$3%636.&&<%-$2.'*%3/.F&$ /./')*3% '*% IBAN9% /#$% +$*$% $*4)0'*+% 4)*1 /'336$38%"#'3%.6/)3)2.&%-$4$33'?$%4)*0'1
'*%&)4./')*%.*0%.,,$.-.*4$% F6/%2.<%6*1 /')*% .(($4/3% 2)3/&<% /#$% [4.*0'*.?'.*3
0$-+)% ,.-/'.&% -$+-$33')*% ./% ,6F$-/<8% "#$ .*0%,),6&./')*3%)-'+'*./'*+%(-)2%*)-/#1
?.-'.F&$9% 2'+-./)-<% $-</#$2.% /#./% 0$1 $-*% B6-),$8% A&'*'4.&% 2.*'($3/./')*3% '*1
;*$3% $-</#-):$-./)0$-2'.% ?.-'.F'&'3% '3 4&60$% -$/'*'/'3% ,'+2$*/)3.9% ,$-',#$-.&
.F3$*/8% "#$% 0'3)-0$-% '3% '*#$-'/$0% '*% .* *$6-),./#<9% 4$-$F$&&.-% ./.I'.9% 4-.*'.&
.6/)3)2.&%0)2'*.*/%,.//$-*%F6/%7'/#%'*1 *$-?$% 0<3(6*4/')*% @*$6-.&% 0$.(*$339
4)2,&$/$% ,$*$/-.*4$% .*0% ?.-'.F&$% $I1 .*)32'.C9% 2')3'39% $&$4/-)4.-0')+-.,#'4
,-$33'?'/<8% H% 26/./')*% '*% /#$% 4)-*';$0 .F*)-2.&'/'$39% 4.-0')2<),./#<9% -$*.&
$*?$&),$% ,-)/$'*% &)-'4-'*% 7.3% ()6*0% '* /6F6&.-%0<3(6*4/')*9%.*0%3:$&$/.&%.F*)-1
)*$% (.2'&<9GUN% .&/#)6+#% /#$% 0'.+*)3'3 2.&'/'$3%@$,',#<3$.&%0<3,&.3'.C8%L4#/#<)1
@.*0% /#$% 0'3/'*4/')*% (-)2% $-</#-):$-./)1 3'39%7#'4#%'3%?.-'.F&$9%+$*$-.&&<%0$?$&),3
0$-2'.%?.-'.F'&'3C%#.3%F$$*%0'3,6/$08GUW '*% .06&/#))0% .(/$-% /#$% *$6-)&)+'4% .*0
),#/#.&2)&)+'4% 2.*'($3/./')*38% O(/$*9
/8=54<4<JQ'"ON4N9AJ<JQ' /#$-$% .-$% 32.&&% 7#'/$% 34.&$3% )?$-% /#$
/-6*:% .*0% $I/-$2'/'$3% -$3$2F&'*+% '4#1
56I'!85K68JJ'#96I=AB8
/#<)3'3% ?6&+.-'38% a)6/'*$% #$2./)I<&'*
eL_% 3<*0-)2$% @OSLS% tGNXQGUC% '3% . 78.9:$-;"<>! /8=54<4<JQ'<ON4N9AJ<JQ'56I'I85K@ .*0%$)3'*%#'3/)&)+'4%$I.2'*./')*%3#)73
-.-$% 0'3)-0$-% 4#.-.4/$-'=$0% F<% <$-./'/'3 68JJ' J96I=AB8;' !<JO=848Q' J9BB84=<O' N9H8=R8=5@ ?.-'.F&<%3'=$0%?.46)&$3%'*%/#$%$,'0$-2.&
@7'/#% ,-)+-$33'?$% 4)-*$.&% ),.4';4./')*C9 4A4<O'H75\>8J'5=8'H=8J864'A6'4N8'ON88RJ'56I'6AJ8; F.3.&%.*0%36,-.F.3.&%4$&&39%7#'4#%4)--$1
;>?
3,)*0% /)% &','0% .44626&./')*% 3$$*% 7'/# /)3)2.&% -$4$33'?$% @-#'=)2$&'4C% /<,$% .*0
&','0%3/.'*3%)(%(-)=$*%3$4/')*38GUT F)/#% k1&'*:$0% 0)2'*.*/GGN% .*0% -$4$33'?$
E#</.*'4% .4'0% @.% QU14.-F)*9% F-.*4#$01 ()-23GGW% #.?$% F$$*% 0$34-'F$08% "#$% ?.&'01
4#.'*%(.//<%.4'0C%'3%0$-'?$0%(-)2%.%?.-'$/< '/<% )(% /#$% )-'+'*.&&<% 0$34-'F$0% .6/)3)2.&
)(%0'$/.-<%3)6-4$39%'*4&60'*+%0.'-<% ,-)01 0)2'*.*/% A)*-.0'1fw*$-2.**% /<,$% #.3
64/39% -62'*.*/% (./39% .*0% 4#&)-),#<&&1 F$$*% 56$3/')*$09% F$4.63$% 3)2$% -$,)-/$0
4)*/.'*'*+% ())03Z% .&/#)6+#% 4#&)-),#<&&1 4.3$3%7$-$%&./$-%3#)7*%/)%F$&)*+%/)%/#$%k1
F)6*0% ,#</)&% 4.**)/% F$% .F3)-F$0% '* &'*:$0% 0)2'*.*/% /<,$9% .*0% )446--$*4$3
#62.*38%"#$%0'3$.3$%'3%4.63$0%F<%.%0$;1 ,-$?')63&<% 4)*3'0$-$0% 3,)-.0'4%#.?$%36F1
4'$*4<% )(% ,#</.*)<&14)$*=<2$% H% #<1 3$56$*/&<% F$$*% -$4)+*'=$0% .3% -$36&/'*+
0-)I<&.3$%@E#<fC9%.%,$-)I'3)2.&%,-)/$'* (-)2% 7.-(.-'*% @A)62.0'*C% .*/'4).+6&.*/
/#./% 4./.&<=$3% /#$% 1)I'0./')*% )(% ,#<1 $2F-<),./#<8GGN9GG`
/.*'4% .4'08% "#'3% '3% /#$% ;-3/% 3/$,% '*% /#$
F-$.:0)7*% )(% ,#</.*'4% .4'09% .*0% E#<f :S8^PV$T8D- DSPW4:P4UMRTAM8A- R9WD<
0$;4'$*4<% &$.03% /)% /#$% .44626&./')*% )( JAJA --aA_E% @.6/)3)2.&% -$4$33'?$Z 78.9:$-;"<>; 1NA6I=AI9JH75J<5' H>6O4545;
,#</.*'4% .4'0% '*% /#$% 3$-62% .*0% /'336$39 OSLS%tQGWGUUC%'3%.&3)%:*)7*%.3%,%'7S* -8PCA=6' ON<7I;' G868=57<V8I' 8=94N=AI8=B5' P<4N
7#$-$% '/% 36F3/'/6/$3% ()-% /#$% (.//<% .4'03 ")7+(-1 L"70%!%)")1 6")7'6%'1 #7+,-%+%!&(&"7! JO578J'KA=B<6?'5'PNA=78I'H5448=6;
*)-2.&&<%,-$3$*/8%H&/#)6+#%26/./')*3%'* 0'79,1;;8%L/%'3%.%-.-$9%26&/'3<3/$2%0$?$&1
D4=]9% /#$% +$*$% $*4)0'*+% E#<f9% .-$% -$1 ),2$*/.&% 0'3)-0$-% 4#.-.4/$-'=$0% F< f.,,&$% 3<*0-)2$Z% OSLS% tVUQT`UC% .3% .
3,)*3'F&$% ()-% 2)3/% 4.3$3% )(% a$(362 07.-;32% 06$% /)% 3<22$/-'4% 3#)-/$*'*+ 0'3/'*4/%?.-'.*/%4#.-.4/$-'=$0%F<%.%2)3.'4
0'3$.3$GGU% /#$-$% '3% +$*$/'4% #$/$-)+$*$1 )(% /#$% ,-)I'2.&% &)*+% F)*$3% @'8$89% -#'1 ,.//$-*% )(% 3:'*% '*?)&?$2$*/% .*0% )446-1
'/<8GGG%[)2$%.(($4/$0%,./'$*/3%#.?$%26/.1 =)2$&'.C9% 3,$4';4% -.0')&)+'4% .F*)-2.&'1 -$*4$%.&2)3/%$I4&63'?$&<%'*%($2.&$39%7'/#
/')*3% '*% /#$% DJ]^% +$*$9% 7#'4#% '3% /#$ /'$3%@'8$89%/#$%,-$3$*4$%)(%3/',,&$0%4.&4';1 &)33%)(%/#$%+$*$%(6*4/')*%#<,)/#$3'=$0%/)
3.2$% +$*$% 26/./$0% '*% -#'=)2$&'4% 4#)*1 4./')*3% )(% 4.-/'&.+$9% ?$-/$F-.&% F)0< F$% &$/#.&% /)% 2.&$38GGN% H(($4/$0% ($2.&$3
0-)0<3,&.3'.% ,6*4/./.% @aA_EZ% 3$$% a#'1 4&$(/'*+C9% >)'*/% 4)*/-.4/6-$39% 4)*+$*'/.& #.?$% .% *)-2.&% &'($% $I,$4/.*4<9% .*0% /#$-$
=)2$&'4% A#)*0-)0<3,&.3'.% E6*4/./.C8 4./.-.4/39%'4#/#<)3'39%.*0%3$?$-$%2$*/.& 2.<% F$% '*4-$.3$0% 0'3$.3$% $I,-$33')*% '*
a$(362%0'3$.3$%'3%0'3/'*+6'3#$0%(-)2%'*1 -$/.-0./')*8%[:'*%4#.*+$3%.-$%,-$3$*/%'* 3644$33'?$% +$*$-./')*3% @.*/'4',./')*C8% O41
(.*/'&$%a$(362%0'3$.3$9%.%(6&2'*.*/%+$*1 .,,-)I'2./$&<% QW% ,$-4$*/% )(% ,./'$*/38 46--$*4$% '*% .% 2.&$% #.3% F$$*% )F3$-?$0% '*
$-.&'=$0%,$-)I'3)2.&%F')+$*$3'3%0'3)-0$- E./'$*/3%#.?$%&)7%&$?$&3%)(%-$0%4$&&%,&.31 .33)4'./')*% 7'/#% .% N!9koo% :.-<)/<,$8
'*%7#'4#%<)6*+%4#'&0-$*%,-$3$*/%7'/#%3$1 2.&)+$*3% .*0% .44626&./')*% )(% ,#<1 A_EkQ% ,-$3$*/3% ./% F'-/#% .3% .% ALB% /#./
?$-$%*$6-)&)+'4%.F*)-2.&'/'$39%2$*/.&%-$1 /.*'4%.4'09%3/.-/'*+%7'/#%*)-2.&%&$?$&3%./ 4&$.-3%)?$-%2)*/#3%.*0%'3%-$,&.4$0%F<%&'*1
/.-0./')*9% #$,./)2$+.&<9% .*0% 0<32)-1 F'-/#% .*0% '*4-$.3'*+% /)% 2)-$% /#.*% GU $.-% #<,$-:$-./)3'39% ()&&'46&.-% ./-),#)1
,#'4% ($./6-$3% '*% .00'/')*% /)% /#$% )/#$- /'2$3%*)-2.&%F<%.+$%G%<$.-8 % 0$-2.9% .*0% ,'+2$*/.-<% .F*)-2.&'/'$38
3'+*3%)(%.06&/%a$(362%0'3$.3$8GGQ f.,,&$% #<,)/#$3'=$0% /#./% /#$% &'*$.-% '*1
"#$% 0'.+*)3'3% 4.*% F$% 2.0$% F<% 0$/$41 \<T8WE$4- :$D$MM8]$- DSPW4:P4UMRTAM8A ?)&?$2$*/% '3% 06$% /)% 2)3.'4% k14#-)2)1
/')*%)(%$&$?./$0%&$?$&3%)(%,&.32.%,#</.*'4 R9WDJAJA k1&'*:$0% -$4$33'?$% 4#)*0-)1 3)2$%'*.4/'?./')*%@&<)*'=./')*C8%f.'-%3#.(/
.4'08% L*% 4#'&0-$*% 7#)% 0)% *)/% #.?$% $&$1 0<3,&.3'.% ,6*4/./.% @OSLS% tVUQTWUC .F*)-2.&'/'$3% .*0% 4'4./-'4'.&% .&),$4'.% 4.*
?./$0%,&.32.%&$?$&3%)(%,#</.*'4%.4'09%/#$ 4.*% '*?)&?$% 3:'*% @&'*$.-% )-% 7#)-&$0 .&3)%)446-8%[/',,&$0%4.&4';4./')*3%.-$%3$$*
0'.+*)3'3% 2.<% F$% 2.0$% F<% 2$.36-'*+ ./-),#'4% )-% '4#/#<)3'()-2% #<,$-:$-./)1 '*% -.0')+-.,#3% )(% .-$.3% )(% $*0)4#)*0-.&
E#<f% .4/'?'/<% '*% 46&/6-$0% ;F-)F&.3/38GGQ 3'39% ()&&'46&.-% ./-),#)0$-2.Z% 2.<% F$+'* F)*$%()-2./')*%06-'*+%4#'&0#))0%F6/%2.<
"-$./2$*/%'*4&60$3%0'$/.-<%-$3/-'4/')*%)( .3%$-</#-)0$-2.Z%M'+8%N!1GNC9%#.'-%@4).-3$9 *)%&)*+$-%F$%?'3'F&$%.(/$-%,6F$-/<8%[/./6-$
())03% 4)*/.'*'*+% ,#</.*'4% .4'0% .*0% '/3 &63/$-&$339%4'4./-'4'.&%.&),$4'.C9%3#)-/%3/./1 2.<% F$% 3#)-/9% 7'/#% .3<22$/-'4% 3#)-/$*1
,-$46-3)-3%.*0%4.*%'*4&60$%,&.32.,#$-$1 6-$%.*0%3:$&$/.&%.F*)-2.&'/'$39%4./.-.4/39 '*+% )(% /#$% &$+38% A./.-.4/3% )446-9% 636.&&<
3'3% )-% &',.,#$-$3'38% L*% /#$% 4&'*'4.&% 3$//'*+ .*0 0$.(*$338%A6--<%$/%.&8%3/60'$0%.%(.21 .3<22$/-'4.&&<9%'*%.F)6/%/7)1/#'-03%)(%,.1
)(%.%0$&.<$0%)*3$/%)(%'4#/#<)3'3%'*%.33)4'1 '&<%7#)%#.0%./<,'4.&%'4#/#<)3'3%.*0%$&$1 /'$*/38%f'3/)4#$2'4.&%3/.'*'*+%()-% 4.&4'62
./')*% 7'/#% *$6-)&)+'4% '2,.'-2$*/9% /#'3 ?./$0%4#)&$3/$-)&%36&(./$%'*%/7)%.(($4/$0 2.<% 3#)7% 4.&4';4./')*3% 7'/#'*% /#$% $,'1
0'3$.3$% 3#)6&0% F$% 4)*3'0$-$0% F$4.63$ 2.&$3%.*0%'0$*/';$0%.*%k%4#-)2)3)2.& 0$-2'39% $3,$4'.&&<% 7'/#'*% #.'-% ()&&'4&$3% '*
/#$-.,<%4.*%.--$3/%,-)+-$33')*8 0$&$/')*% @k,QQC% /#./% '*4&60$0% /#$% +$*$ <)6*+%4#'&0-$*9%7#'4#%2.<%*)/%F$%,-$3$*/
()-%3/$-)'0%36&(./.3$8GGW%"#$-$%'3%.%4&63/$- '*%)&0$-%4#'&0-$*8GGT%S6/./')*3%'*%/#$%+$*$
)(% .-<&36&(./.3$% +$*$3% ./% /#'3% &)4./')*8 $*4)0'*+% /#$% $2),.2'&1F'*0'*+% ,-)/$'*
1NA6I=AI9JH75J<5')>6O4545 @BcEC% 4.63$% /#$% A)*-.0'1fw*$-2.**1
S6/./')*3% '*% 4>FJ9% /#$% +$*$% $*4)0'*+
A#)*0-)0<3,&.3'.% ,6*4/./.% '3% .% 4&'*'4.&&< /#$%$*=<2$%.-<&36&(./.3$%B9%7$-$%()6*0 f.,,&$%3<*0-)2$8%BcE%7.3%;-3/%'0$*/';$0
.*0% +$*$/'4.&&<% 0'?$-3$% +-)6,% )(% -.-$% 0'31 '*% ;?$% ,./'$*/3Z% #)7$?$-9% '/% '3% ,)33'F&$ .3%.%F'*0'*+%/.-+$/%()-%/#$%0-6+%$2),.2'&9
$.3$39% ;-3/% 0$34-'F$0% F<% A)*-.0'9% /#./ /#./%/#$%0'3)-0$-%2.<%.&3)%F$%4.63$0%F< .% 4.&4'6214#.**$&% F&)4:$-8% L/% 7.3% &./$-
3#.-$%/#$%($./6-$3%)(%3/',,&$0%4.&4';4./')* 26/./')*3% '*% .0>.4$*/% .-<&36&(./.3$ ()6*0% /)% F$% V 1#<0-)I<3/$-)'01 X1 !1
)(% /#$% $,',#<3$3% .*0% 3:$&$/.&% 4#.*+$38 +$*$38GGX%"#$%3'2'&.-'/<%/)%7.-(.-'*%$21 '3)2$-.3$% /#./% 4./.&<=$3% .*% '*/$-2$0'./$
"#$<% .-$% 4#.-.4/$-'=$0% F<% .F*)-2.&% 0$1 F-<),./#<% 36++$3/3% /#./% 7.-(.-'*% $21 3/$,%'*%/#$%4)*?$-3')*%)(%&.*)3/$-)&%/)%4#)1
,)3'/')*%)(%4.&4'62%'*%/#$%.-$.3%)(%$*4#)*1 F-<),./#<%2.<%F$%06$%/)%0-6+1'*064$0 &$3/$-)&8GQU%f)7%/#'3%0$($4/%4.63$3%4&'*'4.&
0-.&%F)*$%()-2./')*%06-'*+%($/.&%0$?$&),1 '*#'F'/')*%)(%/#$%3.2$%$*=<2$8 2.*'($3/./')*3%'3%6*4&$.-8
2$*/%.*0%$.-&<%'*(.*4<8%[$?$-.&%()-23%.&3)
'*4&60$% '4#/#<)3'()-2% 4#.*+$38% A&'*'4.& \<T8WE$4- 4PV8WAWJ- DSPW4:P4UMRTAM8A
3$?$-'/<%-.*+$3%(-)2%3$?$-$%07.-;32%.*0 R9WDJAJA f.,,&$%.*0%4)17)-:$-3%'0$*/'1
12",!'#96I=AB8
0$./#% 06-'*+% '*(.*4<% /)% .% 3$&(1&'2'/$0% -.1 ;$0% k1&'*:$0% 0)2'*.*/%4#)*0-)0<3,&.3'. "#$% AfLD_% 3<*0-)2$% @OSLS% tVUXUWUC
0')+-.,#'4% .F*)-2.&'/<% '*% )/#$-38% H*% .61 ,6*4/./.% @A_EkQZ% A)*-.0'1fw*$-2.**1 '3%.%-.-$%0'3)-0$-%/#./%'3%()6*0%.&2)3/%$I1
;>@
A C
78.9:$-;"<># .=<ONA4N<AI9J4=AHN9'N5<='JNAPJ'4<?8=@45<7'C56I<6?'WAX'>6I8='HA75=<V54<A6Q'PN<ON'<J'6A4'ACJ8=L8I'P<4N'6A=B57'N5<='WCX;
+1|M"%&!'"12.2l$#"#
A
"#$%0$?$&),2$*/%)(%'4#/#<)3'3%'*%.06&/1
#))0%4.*%F$%.%2.*'($3/./')*%)(%3<3/$2'4
0'3$.3$%.*0%#.3%F$$*%0$34-'F$0%'*%.33)1
4'./')*% 7'/#%2.&'+*.*4'$39%0-6+39%$*0)1
4-'*$%.*0%2$/.F)&'4%0'3$.3$9%#62.*%'21
26*)0$;4'$*4<% ?'-63% @fLlC% .*0% )/#$-
'*($4/')*39% .*0% .6/)'226*$% 4)*0'1
/')*38GNT% "#$% +-.*6&.-% &.<$-% '3% )(/$*% ./1
/$*6./$0% '*% /#'3% 0'3)-0$-9% .*0% /#$% 34.&$
)(/$*% -$3$2F&$3% /#./% 3$$*% '*% 2'&0% '4#1
/#<)3'3%?6&+.-'38%H&/#)6+#%f)0+:'*%0'31
$.3$% '3% /#$% 2)3/% 4)22)*% 2.&'+*.*4<
-$,)-/$0%7'/#%.456'-$0%'4#/#<)3'39%*)*1
C f)0+:'*% &<2,#)2.3% .*0% .% ?.-'$/<% )(
)/#$-% 2.&'+*.*4'$3% #.?$% .&3)% F$$*% )F1
78.9:$-;"<>6 .=<ONA4N<AI9J4=AHN9;'AB'.N8'65<7J'5=8'4N<668I'56I'C=<4478Q'P<4N'A69ONAJON<V<5Q'O=5OR@ 3$-?$08GWU% [:'*% '*?)&?$2$*/% 2.<% ()&1
<6?Q'56I'<==8?>75='4=56JL8=J8'I8H=8JJ<A6J'AK'4N8'IA=J57'J>=K5O8;'CB'#R<6'<6LA7L8B864'<6'4=<ONA4N<AI9J4=A@ &)7%/#$%4)6-3$%)(%2.&'+*.*4<%.*0%4&$.-
HN9'O56'L5=9'K=AB'5CJ864'4A'J8L8=8'<ON4N9AJ<J;'.N<J'H54<864'N5J'5'BA=8'J8L8=8'<ON4N9A4<O'<6LA7L8B864 7'/#% $(($4/'?$% 4.*4$-% /-$./2$*/8% H41
P<4N'I5=R@OA7A=8IQ'5IN8=864'JO578; 56'-$0% '4#/#<)3'3% '3% 4)22)*&<% 3$$*% '*
.33)4'./')*% 7'/#% .456'-$0% '226*)0$;1
.F&$%.*0%2.<%F$%2'&09%'*4&60$3%4./.-.4/39 /$-'=$0%F<%&'($&)*+%,$$&'*+%)(%/#$%3/-./62 4'$*4<% 3<*0-)2$Z% '4#/#<)/'4% )-% I$-)/'4
0$4-$.3$0% #$.-'*+9% #$,./)3,&$*)2$+.&< 4)-*$628%L/%2.<%F$%.33)4'./$0%7'/#%,-6-'1 3:'*%#.3%F$$*%)F3$-?$0%'*%6,%/)%VU%,$-1
7'/#% .F*)-2.&% &'?$-% $*=<2$3% .*0% (.//< /639% 3#)-/% 3/./6-$9% .*0% $.3'&<% -$2)?$0 4$*/%)(%.456'-$0%'226*)0$;4'$*4<%3<*1
&'?$-9%,3<4#)2)/)-%0$&.<9%2<),./#<%7'/# .*.+$*%#.'-38%D)7%,&.32.%/-<,/),#.*%&$?1 0-)2$% ,./'$*/3% @3$$% A#.,8% GTXC8GWG% H
$&$?./')*3%'*%3$-62%2634&$%$*=<2$39%.*0 $&3% .*0%.2'*).4'06-'.% #.?$%.&3)%F$$*%-$1 3/60<%)(%fLl1G1,)3'/'?$%'*/-.?$*)63%0-6+
*$6-)&)+'4%.F*)-2.&'/'$38 ,)-/$08GNV%"-.6,$%36++$3/$0%/#./%/#$-$%.-$ 63$-3%()6*0%.456'-$0%'4#/#<)3'3%)446--$0
/7)% /<,$3% )(% ,$$&'*+% 3:'*% 3<*0-)2$38W )*&<% .(/$-% ,-)()6*0% #$&,$-% "14$&&% 0$,&$1
"<,$% H9% 7#'4#% '3% *)*'*\.22./)-<% .*0 /')*9% 2)-$% (-$56$*/&<% 7'/#% 4)1'*($4/')*
*>74<H78'#>7K545J8'!8TO<86O9
.3<2,/)2./'49%'3%4#.-.4/$-'=$0%F<%+$*$-1 7'/#% #62.*% "14$&&% &$6:$2'.d&<21
S6&/',&$% 36&(./.3$% 0$;4'$*4<% @OSLS .&'=$0%,$$&'*+%'*%/#'*%36,$-;4'.&%\.:$3%)( ,#)2.%?'-63%/<,$%Q9%.*0%36++$3/$0%/#./
tQ!QQUUC% '3% .% -.-$% .6/)3)2.&% -$4$33'?$ 0'(($-'*+%3'=$%.*0%3#.,$8 %L*%4)*/-.3/9 '/%2.<%F$%.%2.-:$-%()-%4)*4)2'/.*/%'*1
0'3)-0$-% /#./%'3% 4#.-.4/$-'=$0%F<% .%0$;1 /<,$%c%,-$3$*/3%7'/#%4)*+$*'/.&%'4#/#<)/'4 ($4/')*% 7'/#% fLl1G% .*0% #62.*% "14$&&
4'$*4<% )(% 3$?$-.&% 36&(./.3$39% 7#'4#% -$1 $-</#-)0$-2.%.*0%$?)&?$3%'*/)%$-</#$2.1 &$6:$2'.d&<2,#)2.%?'-63%/<,$%Q8GWQ
36&/3% '*% /#$% .44626&./')*% )(% 36&(./'0$39 /)639%34.&'*+9%2'+-./)-<%,./4#$38%"#'3%/<,$ L*%.456'-$0%'4#/#<)3'3%)446--'*+%'*%.31
+&<4)3.2'*)+&<4.*39% 3,#'*+)&','039% .*0 '3%,-6-'/'4%.*0%2.<%F$%.33)4'./$0%7'/#%$&$1 3)4'./')*% 7'/#% 3.-4)'0)3'39% 3:'*% F'),3<
3/$-)'0% 36&(./$3% '*% /'336$3% .*0% F)0<% \61 ?./$0% &$?$&3% )(% '226*)+&)F6&'*% B9% .2'1 4.*% F$% 0'.+*)3/'49% 3#)7'*+% *)*4.3$./1
'038GVT% "#$% .4/'?'/<% )(% F)/#% &<3)3)2.& *).4'06-'.9%.*0%3#)-/%3/./6-$8%"#$%3/-./62 '*+%+-.*6&)2.3%'*%/#$%0$-2'3%@3$$%A#.,8
@.-<&36&(./.3$3%H%.*0%cC%.*0%2'4-)3)2.& 4)-*$62%'3%$.3'&<%3$,.-./$0%2$4#.*'4.&&< GWVC8GWV% H456'-$0% '4#/#<)3'3% 2.<% F$% .
@.-<&36&(./.3$% Ad3/$-)'0% 36&(./.3$% )(% k1 (-)2% /#$% &)7$-% $,'0$-2'39% .*0% #'3/)&)+'1 2.-:$-% )(% .6/)'226*$% 0'3$.3$9% )446-1
&'*:$0% '4#/#<)3'3C% .-<&36&(./.3$3% '3% '21 4.&&<%/#$%3,&'/9%7#'4#%)446-3%'*/$-4$&&6&.-&<9 -'*+% 7'/#% 3<3/$2'4% &6,63% $-</#$2./)1
,.'-$08% "#$% 0'3)-0$-% '3% .% 4)2,)3'/$% )( '3%3$$*%F$/7$$*%/#$%3/-./62%4)-*$62%.*0 3639%0$-2./)2<)3'/'39%2'I$0%4)**$4/'?$
/#$% 4&'*'4.&% ($./6-$3% )(% F)/#% 2$/.4#-)1 /#$%+-.*6&.-%&.<$-8 /'336$% 0'3$.3$9% .*0% $)3'*),#'&'4% (.34''/'3
2./'4% &$6:)0<3/-),#<% .*0% )(% .% 264)1 @3$$% A#.,38% VU9% GW`9% GW!C8GWN9GWW% L/% #.3
,)&<3.44#.-'0)3'38 F$$*% 0$34-'F$0% '*% F)*$% 2.--)7% /-.*31
%>I'#96I=AB8
,&.*/% -$4','$*/39% 7#$-$% '/% 2.<% F$% -$1
a60% 3<*0-)2$% @OSLS% tVUXQUUC% '3% . &./$0% /)% +-.(/1?$-3631#)3/% 0'3$.3$% @3$$
)887<6?'#R<6'#96I=AB8
,))-&<% 4#.-.4/$-'=$0% 0'3)-0$-9% ,-)F.F&< A#.,8%QXC8GW`
E$$&'*+% 3:'*% 3<*0-)2$% @OSLS% tQ!UVUUC )(%-$4$33'?$%'*#$-'/.*4$9%/#./%'*4&60$3%$,'1 H&/#)6+#% )446--$*4$% '*% .33)4'./')*
'3%.*%.6/)3)2.&%-$4$33'?$%0'3)-0$-%4#.-.41 &$,3<9% 2$*/.&% -$/.-0./')*9% '*(.*/'&'329 7'/#% 4#)&$3/$-)&1&)7$-'*+% .+$*/3% @*'4)1
;=>
/'*'4% .4'09% /-',.-.*)&C% #'+#&'+#/3% /#$% -$&.1
/')*3#',%F$/7$$*%4#)&$3/$-)&%2$/.F)&'32
.*0%*)-2.&%0$356.2./')*9%.456'-$0%'4#1
/#<)3'3% #.3% F$$*% )F3$-?$0% 7'/#% .% ?.-'1
$/<% )(% 0-6+39% '*4&60'*+% F6/<-),#$*)*$
@.*/',3<4#)/'4C9% 0'I<-.='*$% @2.>)-% /-.*1
56'&'=$-C9% .*0% *.()I'0'*$% @$3/-)+$*% .*1
/.+)*'3/C8GT% e.?.%'3%.% ,3<4#).4/'?$% F$?1
$-.+$% 2.0$% (-)2% /#$% -))/% )(% .% ,$,,$-
,&.*/% .*0% 63$0% ()-% /#)63.*03% )(% <$.-3
F<% E.4';4% L3&.*0$-38% f$.?<% :.?.% 0-'*:1
$-3% 4.*% .456'-$% .% -$?$-3'F&$% '4#/#<)3'1
()-2%$-6,/')*%4.&&$0%X(8(16%'+7,(&$/8%L*
Y$3/$-*% *./')*39% :.?.% '3% 3)&0% '*% #$.&/#
())0%3/)-$3%.3%.%-$&.I.*/8GW!
1A6h>864'56I'%84<O>7548I'
)5H<77AB54AJ<J'AK'GA>?8=A4'
56I'15=485>I
A)*\6$*/%.*0%-$/'46&./$0%,.,'&&)2./)3'3
)(%g)6+$-)/%.*0%A.-/$.60%'3%.*%6*4)21
2)*% F6/% 0'3/'*4/'?$% .456'-$0% '4#/#<)3'1 A C
()-2% 0$-2./)3'3% 3$$*% '*% <)6*+% .06&/3 78.9:$-;"<>" 1A6h>864'56I' =84<O>7548I'H5H<77AB54AJ<J'AK'GA>?8=A4'56I' 15=485>I;'AB'!5=RQ'JO579
.*0% 4#.-.4/$-'=$0% F<% ,$-3'3/$*/% F-)7*9
H5H>78J'56I'H75\>8J'A6'4N8'4=>6RQ'PN<ON'C8OAB8'=84<O>7548I'4AP5=I'4N8'H8=<HN8=9;'CB'17AJ8@>H'L<8P'AK
34.&<% 2.46&$39% ,.,6&$39% ,./4#$39% .*0
4N8' I<J4<6O4<L8Q' JO579Q'=84<O>7548I'H5H>78J'56I'H75\>8J;' WMJ8I'P<4N'H8=B<JJ<A6'K=AB'+6I=8P'*A648B5@
,&.56$38%D$3')*3%/$*0%/)%F$%&)4.&'=$0%,-$1
0)2'*.*/&<%)*%/#$%*$4:9%6,,$-%/-6*:%@'*1 =56AQ'!$Q'56I'#48HN86'/=<LI5Q'*!;X
/$-2.22.-<% .*0% '*/$-34.,6&.-% -$+')*3C9
.*0%.I'&&.$%7#$-$%/#$<%/$*0%/)%F$%4)*\61 2'&0%.F-.3'?$3%@3,)*+$39%F6((%,6((39%,621 /'$*/38% "#$% 2.-:$0&<% '2,.'-$0% F.--'$-
$*/% .*0% F$4)2$% -$/'46&./$0% /)7.-03% /#$ '4$%3/)*$39%$/48C8%H00'/')*%)(%F./#%)'&3%)- (6*4/')*%'*%'4#/#<)3'3%3#)6&0%F$%4)*3'01
,$-',#$-<%@M'+8%N!1G!C8%"#$%&$3')*3%F$.-%. .,,&'4./')*% )(% &6F-'4.*/3% F$()-$% 0-<'*+ $-$0% 7#$*% 63'*+% /),'4.&% ,-$,.-./')*3
4&'*'4.&%-$3$2F&.*4$%/)%/'*$.%?$-3'4)&)-9%. 4.*%,-)&)*+%/#$%#<0-./')*%.*0%3)(/$*'*+8 )?$-%&.-+$%.-$.3%)(%F)0<%36-(.4$8%M)-%$I1
3:'*%'*($4/')*%7'/#%D"&/'7),7'9+%3,8%H%?.1 _$,$*0'*+% )*% /#$% '4#/#<)3'3% .*0% $*?'1 .2,&$9% 7'0$3,-$.0% 63$% )(% /),'4.&% 3.&'1
-'$/<%)(%/-$./2$*/%.,,-).4#$3%#.?$%F$$* -)*2$*/.&%4)*0'/')*39%'*0'?'06.&%,./'$*/3 4<&'4% .4'0% ,-$,.-./')*3% 4.*% &$.0% /)% 3'+1
-$,)-/$09%'*4&60'*+%/),'4.&%@:$-./)&</'439 2.<% ,-$($-% 3,$4';4% &6F-'4./'*+% .+$*/39 *';4.*/% .F3)-,/')*9% '*/)I'4./')*% @$8+89
0$-'?./'?$3%)(%?'/.2'*3%H%.*0%_9%.*/'2'1 7#'4#% 4.*% /.:$% /#$% ()-2% )(% &)/')*39 *.63$.9% /'**'/639% 0<3,*$.9% #.&&64'*.1
4-)F'.&3C% .*0% 3<3/$2'4% @.*/'F')/'439% -$/'1 4-$.239%)'&39%)'*/2$*/39%)-%,$/-)&./628%L* /')*3C9% .*0% $?$*% 0$./#8G`Q% A#'&0-$*% .-$
*)'03C% .+$*/38% S'*)4<4&'*$% #.3% F$$* 0-<%4&'2./$3%.*0%7'*/$-%2)*/#39%#62'0'1 ./% +-$./$-% -'3:% F$4.63$% /#$<% #.?$% .
36++$3/$0% .3% .% ;-3/1&'*$% /-$./2$*/Z% 3641 ;$-3%4.*%F$%63$0%/)%4-$./$%.%2)-$%#)3,'1 +-$./$-% F)0<% 36-(.4$% .-$.% ,$-% 6*'/
4$33(6&% -$/-$./2$*/% )(% -$46--$*4$3% 36,1 /.F&$%$*?'-)*2$*/8 7$'+#/% /#.*% .06&/39% .% 3'/6./')*% /#./% $(1
,)-/3% /#$% 4)*4$,/% /#./% /#'3% 4)*0'/')*% '3 e$-./)&</'4% .+$*/3% .-$% 63$0% /)% $*1 ($4/'?$&<%#$'+#/$*3%/#$%,)33'F'&'/<%)(%0$1
.*%.F*)-2.&%-$3,)*3$%/)%.*%'*($4/')*%)- #.*4$% 4)-*$)4</$% 0$356.2./')*% .*0 ?$&),'*+% 3<3/$2'4% /)I'4'/<% (-)2% /),'1
'*\.22./')*8GWX9GWT /#$-$F<% -$2)?$% 34.&$% .*0% /#'*% #<,$-1 4.&38% "#$% .F*)-2.&% 3:'*% F.--'$-% 3#)6&0
:$-./)/'4% 3/-./62% 4)-*$628% "#$-$% .-$ F$% 4)*3'0$-$0% 7#$*% /-$./'*+% 4)*4)2'1
2.*<% 4)22$-4'.&&<% .?.'&.F&$% :$-./)1 /.*/% 0$-2./)3$3% '*% '4#/#<)3'3% ,./'$*/38
.%&+.*&-. &</'4% 4-$.23% .*0% &)/')*3% 4)*/.'*'*+ "),'4.&%U8G%,$-4$*/%/.4-)&'263%)'*/2$*/
A6--$*/% /#$-.,'$3% ()-% /#$% '*#$-'/$0% '4#1 6-$.9% 3.&'4<&'4% .4'09% )-% 1#<0-)I<% .4'03 '3% $(($4/'?$% '*% ./),'4% 0$-2./'/'3% 7'/#
/#<)3$3% .-$% 3<2,/)2./'4% .*0% ()463% )* @$8+89% &.4/'4% .4'09% +&<4)&'4% .4'0C8% R-$. 2'*'2.&%3<3/$2'4%.F3)-,/')*8%f)7$?$-9
#<0-./')*9% &6F-'4./')*9% .*0% :$-./)&<1 2.<% (6*4/')*% F<% '/3% 4.,.4'/<% /)% F'*0 /#$%./),'4%0$-2./'/'3%)(%P$/#$-/)*% 3<*1
3'38G`U9G`G% L4#/#<)/'4% 3:'*9% $?$*% '(% /#'4:1 7./$-8% E-),<&$*$% +&<4)&% @NU% ,$-4$*/% /) 0-)2$%'3%4)2,&'4./$0%F<%.%0$($4/'?$%'4#1
$*$09% #.3% .% 0$4-$.3$0% F.--'$-% (6*4/')* `U% ,$-4$*/% '*% 7./$-C9% 7'/#% )-% 7'/#)6/ /#<)/'4% 3:'*% F.--'$-8% "#$% 0$($4/'?$% F.-1
.*0%'*4-$.3$0%/-.*3$,'0$-2.&%7./$-%&)338 )44&63')*9% 4.*% .&3)% F$% $(($4/'?$% '*% 34.&$ -'$-% '3% .33)4'./$0% 7'/#% '*4-$.3$0
c$4.63$% ,&'.F'&'/<% )(% /#$% 3/-./62% 4)-1 -$2)?.&8% O44&63')*% 4.*% $(($4/'?$&<% '*1 ,$-46/.*$)63% .F3)-,/')*% .*0% -'3:% ()-
*$62% '3% .%(6*4/')*% )(% '/3% 7./$-% 4)*/$*/9 4-$.3$%3:'*%#<0-./')*%.*0%(.4'&'/./$%0$31 3<3/$2'4% /)I'4% $(($4/38% "#'3% 3#)6&0% F$
#<0-./')*% 4.*% 3)(/$*% /#$% 36-(.4$% )(% /#$ 56.2./')*Z% '/% 4.*% .&3)% $*#.*4$% /#$% $(1 4)*3'0$-$0% 7#$*% 63'*+% /),'4.&% .+$*/3
3:'*8%L*%2)'3/9%#62'0%4&'2./$39%2)3/%'4#1 ($4/% )(% :$-./)&</'4% .+$*/38% [,$4'.&% 4.-$ 364#% .3% /.4-)&'263% )-% /),'4.&% 3/$-)'039
/#<)3$3% '2,-)?$9% .*0% 2'&0% '4#/#<)3$3 3#)6&0% F$% /.:$*% 7#$*% 63'*+% $I/$*3'?$ 7#$-$% '*4-$.3$0% 3<3/$2'4% .F3)-,/')*
@$8+89% '4#/#<)3'3% ?6&+.-'3C% 2.<% 6*0$-+) .-$.3% )(% )44&63')*% 7'/#% :$-./)&</'4 #.3% F$$*% )F3$-?$0% .*0% 2)*'/)-'*+% )(
$I/$*3'?$% 4&$.-'*+8% S)'3/$*'*+% /#$% 3:'* .+$*/3% .*0% '*% '*0'?'06.&3% 7#)% 2.<% F$ 3$-62%&$?$&3%2.<%F$%*$4$33.-<8XW9X`
7'/#9% ()-% $I.2,&$9% &)*+% F./#3% 4.*% #<1 #$./%'*/)&$-.*/8%"),'4.&%-$/'*)'0%)-%?'/.1 H*)/#$-%-'3:% /)% 4#'&0-$*%'3% /#./% '*% 3$?1
0-./$%'/8%Y$&&1#<0-./$0%.-$.3%)(%#<,$-:$-1 2'*% _% ,-$,.-./')*3% 2.<% .&3)% F$% $(($41 $-.&% /<,$3% )(% '4#/#<)3'39% *6/-'/')*.&% -$1
./)3'3% 4.*% 2)-$% $.3'&<% F$% /#'**$0% 7'/# /'?$% F6/% 4.*% F$% '--'/./'*+% '*% 3)2$% ,.1 56'-$2$*/3%2.<%F$%#'+#9%.*0%'*.0$56./$
;==
*6/-'/')*%4.*%&$.0%/)%(.'&6-$%/)%/#-'?$8%"#'3 #./&'0() .+*)3'3%4.*%F$%0)*$%63'*+%&'*:.+$%.*.&<1
7.3% /#)6+#/% /)% F$% -$&./$0% /)% /#$% &.-+$ 3'38% E-$*./.&% 0'.+*)3'3% F<% 26/./')*.&
6O/*/P2,+,&7(,2")O(,
/6-*)?$-%)(%34.&$Z%#)7$?$-9%-$4$*/%3/60'$3 .*.&<3'3% #.3% F$$*% .44)2,&'3#$0% '*% $,'1
36++$3/%$*$-+<%&)33%(-)2%'2,.'-$0%F.--'$- J2(-7/X3'+1&/3-5/)-8H212[/O&O-+3'- 0$-2)&</'4% #<,$-:$-./)3'3G``Z% &.2$&&.-
(6*4/')*% '3% /#$% 4.63$8G`V% [)2$% ,./'$*/3 :(,+1('-MN&3-J[%(O'H=AL<I8J'J>HHA=4' '4#/#<)3'3% @3IK;CZ% [j[% @R4:@=CZ% '4#1
7'/#%'4#/#<)3'3%@,.-/'46&.-&<%&.2$&&.-%'4#1 56I'<6KA=B54<A6'KA='5KK8O48I'<6I<L<I>57JQ' /#<)3'3% F6&&)3.% )(% ['$2$*3% @<%'(&"!1 NCZ
/#<)3'3%.*0%ALBC%#.?$%0$4-$.3$0%37$./'*+ K5B<79'B8BC8=JQ'K=<86IJQ'56I'N8574N'O5=8' ELcL@_C[%@J>??N_]D@9 J>??[_]DACZ%.61
7'/#% #$./% '*/)&$-.*4$8% L/% '3% '2,)-/.*/% ()- H=AL<I8=Ju(;";%;#;.;Q'Zb`3'F87JN'%A5I' /)3)2.&%-$4$33'?$%aA_E@DJ]^CZ%k1&'*:$0
/#$%,.-$*/3%)(%.%*$7F)-*%7'/#%'4#/#<)3'3 G_Q'-A=4N'F578JQ')+'Za3^3'.87D'_Z^@`Za@ 4#)*0-)0<3,&.3'.% ,6*4/./.% @.-<&36&(./.3$
/)%F$%.7.-$%)(%/#$%,)33'F'&'/<%)(%0$4-$.3$0 [`c[Y'N44HD]]PPP;JO579JR<6;A=?]Y'8@B5<7D' +$*$% 4&63/$-% ./% k,QQCZ% P$/#$-/)*% 3<*1
37$./'*+% .*0% /)% F$% .//$*/'?$% ()-% 3'+*3% )( <6KA}JO579JR<6;A=?; 0-)2$%@FDCEX*YCXNZ%.*0%#.-&$56'* '4#/#<1
#$./%'*/)&$-.*4$9%364#%.3%\63#'*+%.*0%&$/#1 .(3(J(O1O-WN44HD]]PPP;?86848J4J;A=?X' )3'3%@4A?4;NC%@,$-3)*.&%4)226*'4./')*9
.-+<9%,.-/'46&.-&<%06-'*+%#)/%7$./#$-9%.*09 H=AL<I8J'I<J85J8'=8L<8PJQ'?8684<O'48J4<6?' _.?'0% e$&3$&&9% !8Q`8U`C8% L*% [j[9% /#$% 0'.+1
.3%/#$%4#'&0%+-)739%06-'*+%$I$-4'3$8%H?)'01 =8JA>=O8JQ'56I'8I>O54<A657'B548=<57J; *)3'3% 4.*% F$% 2.0$% F<% .33.<% )(% $*=<2$
'*+%#)/%$*?'-)*2$*/39%4.--<'*+%3,-.<%F)/1 P3,&3(-V(3'(,&+3-832()&1+3H(-&3-V+3G- .4/'?'/<% '*% 46&/6-$0% .2*')4</$39% $?$*% '(
/&$3% 7'/#% 7./$-% /)% 2)'3/$*% /#$% 3:'*% .*0 PV8VG'WN44HD]]PPP;6OC<;67B;6<N;?AL] /#$%26/./')*%'*%MHD_f%'3%6*0$;*$08%M)-
4))&% '/% /#-)6+#% $?.,)-./')*9% .*0% 4))&'*+ 864=8V]\>8=9;KO?<{ICi$*"*X'W4=5I8B5=RQ' .6/)3)2.&%-$4$33'?$%0'3)-0$-3%7#$-$%/#$
?$3/3%4.*%2'*'2'=$%#$./%3/-$338 :AN6J'2AHR<6J'M6<L8=J<49XQ'5'O5457A?'AK' 26/./')*%'3%:*)7*%@$8+89%&.2$&&.-%'4#/#<1
[<3/$2'4%-$/'*)'0%/#$-.,<%7'/#%'3)/-$/1 N>B56'?868J'56I'?8684<O'I<JA=I8=JQ'<J'5' )3'3% .*0% [j[C9% 4.--'$-% 0$/$4/')*% 2.<% F$
'*)'*%)-%.4'/-$/'*%4.*%'*064$%0-.2./'4%'21 >J8K>7'=8K8=86O8'P<4N'7<6RJ'4A'5II<4<A657' ,$-()-2$0%()-%./1-'3:%-$&./'?$38
,-)?$2$*/% '*% 2.*<% '4#/#<)3$3% .*0% '3 =8JA>=O8J; [$$ c)I%N!1G%()-%2)-$%'*()-2./')*%)*
,.-/'46&.-&<%63$(6&%'*%&.2$&&.-%'4#/#<)3'39 J2(-W+1&/3+,-:(Q&O1)[-5/)-8H212[/O&O- /#$%'4#/#<)3$38
ALB9% .*0% $-</#-):$-./)0$-2'.% ?.-'.F'&'38 +3'-:(,+1('-4&O/)'()O'<J'5'=8JA>=O8'KA='
"#$%0$4'3')*%/)%'*'/'./$%3<3/$2'4%-$/'*)'0 <6L8J4<?54A=J'4A'<BH=AL8'I<5?6AJ<J'56I'
/#$-.,<%3#)6&0%F$%7$'+#$0%4.-$(6&&<9%F$1 4=854B864'AK'4N8J8'I<JA=I8=JuM6<L8=J<49' /&l'%&(&%&-1&#
4.63$%)*4$%/#$%0-6+%'3%3/.-/$09%4)*/'*6$0 AK'F5JN<6?4A6Q'!8=B54A7A?9Q'eAS'b^`^_3Q' .N8'K>77'=8K8=86O8'7<J4'KA='577'ON5H48=J'
F$*$;/% 636.&&<% -$56'-$3% 4#-)*'4% /#$-.,<8 Za^a'-&')5O<TO'#4;Q'#854478Q'F+'adZa^@
"-$./2$*/% )(% /#$% #.-&$56'*% *$7F)-* `^_3'.87D'Z@d[[@^a^@Z_`^Y'N44HD]]
<J'5L5<75C78'54'PPP;I<?Bc;OAB;
7'/#% 3<3/$2'4% -$/'*)'0% /#$-.,<% 06-'*+ PPP;JR<6=8?<J4=9;A=?Y'8@B5<7D' W8 "-.6,$% fh% 3$%1 C#$&$/7)%)O1 41 I9"6%1 &7
/#$%*$7F)-*%,$-')0%4.*%F$%&'($3.?'*+%06$ <6KA}JR<6=8?<J4=9;A=?;' ?-"!"#(-1@"(0!7)")Q1I%!%&"#1?79!)%-"!0Q1(!6
3$%'(,/8%c$-&'*9%[,-'*+$-1l$-&.+9%GTXT
/)%$*#.*4$0%0$356.2./')*%)(%.%4)*3/-'4/1
X8 Y'&&'.23% SD9% B&'.3% ESh% g$*$/'4.&&<
'*+%2$2F-.*$8 #.*4$% F&'3/$-'*+% '*% $,'0$-2)&</'4% #<,$-1 /-.*32'//$09% +$*$-.&'=$0% 0'3)-0$-3% )(
M6*+.&% '*($4/')*3% .-$% 4)22)*9% F)/# :$-./)3'3%,./'$*/39%/#$<%3#)6&0%F$%.02'*1 4)-*';4./')*8%"#$%'4#/#<)3$39%'*%@%'+(*
)(%3:'*%.*0%*.'&39%.*0%.-$%)(/$*%6*0'.+1 '3/$-$0%4.-$(6&&<%.*0%3/.-/$0%./%&)7%0)3$38 &7-70"#1?-"!"#)`13$%1I%!76%'+(&7)%)9%$0'/$0
*)3$0% F$4.63$% )(% /#$% +$*$-.&'=$0% 34.&1 F<% H&,$-% jA8% E#'&.0$&,#'.9% Y8c8% [.6*1
0$-3%A)9%GTX!9%,%GWW
'*+8%H%#'+#%'*0$I%)(%363,'4')*%4.*%#$&, T8 c.&$% [j9% _'g')?.**.% jjh% g$*$/'4
0'.+*)3$%/'*$.%4)-,)-'39%4.,'/'39%)-%?$-3'1 )%&-+.+,'!"+G-$#"# .,,-).4#$3%/)%6*0$-3/.*0'*+%/#$%:$-./'1
4)&)-9%7#$-$%/#$%)*&<%3<2,/)2%2.<%F$ S)&$46&.-% 0'.+*)3'3% '3% ,-$($--$0% 7#$* *),./#'$38 4681@%'+(&7- #"hTT9%GTT!
&)4.&'=$0% ,-6-'/63% .*0% /#$% )*&<% 3'+*% . GU8 a'4#.-0% gh% A)**$I'*3h% H% 4)**$4/')*
,)33'F&$8% H&/$-*./'?$% 2$/#)039% '*4&60'*+
7'/#% /#$% 3:'*8% JS,1 @%'+(&7- *h!!9
0'(($-$*4$% '*% /#$% 4#.-.4/$-% )(% 34.&$% )-% . ($/)34),<%.*0%($/.&%3:'*%F'),3<9%#.?$%/#$ QUUU
&)4.&'=$0%.-$.%)(%.&),$4'.8 0'3.0?.*/.+$%)(%*)/%F$'*+%.F&$%/)%F$%,$-1 GG8 H-'*% Sj9% f)#&% _9% a)),% _ah% _'3)-0$-3
"#$%2.*.+$2$*/%)(%$,'0$-2)&</'4%#<1 ()-2$0%$.-&<%'*%,-$+*.*4<8%c)/#%#.-F)-%. )(% :$-./'*'=./')*9% '*% ?7!!%#&"8%1 3"))9%
,$-:$-./)3'3% #.3% .46/$% .*0% 4#-)*'4% .31 -'3:%)(%($/.&%2)-/.&'/<8%M)-%/#$3$%.*0%)/#$- (!61 C&)1 =%'"&(L-%1 @")7'6%')O1 K7-%#9-('Q
,$4/3%.*0%?.-'$3%7'/#%/#$%4&'*'4.&%/<,$8%H-1 I%!%&"#Q1 (!61 K%6"#(-1 4),%#&)9% Q*0% $09
-$.3)*39% ($/.&% 3:'*% F'),3<% '3% -.-$&<% ,$-1 $0'/$0%F<%a)<4$%ES9%[/$'*2.**%c8%P$7
$.3% )(% /#'4:9% #.-0% #<,$-:$-./)3'39% 7#'4# ()-2$09% .*0% $I,$-/% '*/$-,-$/./')*% '3% .&1 o)-:9%Y'&$<1D'339%QUUQ9%,%GUQW
.-$%*)/%,&'.F&$%.*0%#.?$%.%#.-0%-)6+#%36-1 2)3/% '2,)33'F&$% /)% )F/.'*8% L*% /#$% ,.3/9 GQ8 O*&'*$% S$*0$&'.*% L*#$-'/.*4$% '*% S.*9
(.4$9%.-$%,-)*$%/)%2$4#.*'4.&%/-.62.8%L* ($/.&%3:'*%F'),3<%./%.,,-)I'2./$&<%QU%/) #//,hdd777V8*4F'8*&28*'#8+)?d$*/-$=d
,./'$*/3% 7'/#% /#$% #<3/-'I% /<,$% )(% ,)-461 56$-<8(4+'r0FxOSLS
QQ% 7$$:3K% +$3/./')*% 7.3% ,$-()-2$0% '*
QU8 D$($?-$% A% $/% .&h% S6/./')*3% '*% .% *$7
,'*$1&':$% #<,$-:$-./)3'39% /#$% -)6+#% 36-1 &.2$&&.-% '4#/#<)3'39% ALB9% $,'0$-2)&</'4 4</)4#-)2$% ENWU% +$*$% '*% &.2$&&.-% '4#1
(.4$% 4.63$3% #'+#% /-.4/')*% 7'/#% )F>$4/3 #<,$-:$-./)3'39%.*0%[j[8%L*%#.-&$56'*%'4#1 /#<)3'3% /<,$%V8% =9+1K7-1I%!%& #)h!`!9
2)?'*+% .4-)33% /#$% 3:'*% 36-(.4$9% 7#'4# /#<)3'39%,-$*./.&%0'.+*)3'3%#.3%F$$*%3641 QUU`
/$*0%/)%4./4#%)*%/#$%#<,$-:$-./)/'4%#)-* 4$33(6&&<% ,$-()-2$0% F<% ($/.&% 3:'* QW8 [2'/#% Mj% $/% .&h% D)331)(1(6*4/')*% 26/.1
.*0%,$$&%'/%)((8%"),'4.&%.+$*/3%364#%.3%&61 /')*3% '*% /#$% +$*$% $*4)0'*+% ;&.++-'*
F'),3<G`N% .*0% 6&/-.3)*)+-.,#<8G`W% Y#$* 4.63$% '4#/#<)3'3% ?6&+.-'38% E(&1 I%!%&
F-'4.*/3% .*0% :$-./)&</'43% 4.*% -$064$% /#$ '/%'3%,)33'F&$%/)%0)%,-$*./.&%0'.+*)3'3%F< &+hVV!9%QUU`
/#'4:$*$09%-)6+#%.-$.3%.*0%#$&,%/)%2'*'1 2)&$46&.-%.*.&<3'3%)(%.%($/.&%3.2,&$9%'/%'3 W!8 _'g')?.**.%jj9%c.&$% [jh%A&'*'4.&%#$/$-)1
2'=$% F&'3/$-'*+% .*0% $-)3')*8% c.4/$-'.&% '*1 ),/'2.&&<%,$-()-2$0%$.-&<%'*%,-$+*.*4<8 +$*$'/<% '*% $,'0$-2)&</'4% #<,$-:$-./)1
($4/')*%)(%/#$%3:'*%'3%4)22)*9%)(/$*%&$.03 3'38 4'#$1@%'+(&7- #&%hGUQ`9%GTTN
"#'3% 4.*% F$% 0)*$% 7'/#% 4#)-')*'4% ?'&&)63
!!8 "#)2.3%HA%$/%.&h%HcAHGQ%'3%/#$%2.>)-
/)% $*#.*4$0% F&'3/$-'*+9% .*0% 2.<% -$56'-$ 3.2,&'*+% )-% F<% .2*')4$*/$3'3% '*% 0'3)-1 #.-&$56'*% '4#/#<)3'3% +$*$8% B1 C!8%)&1 @%'*
(-$56$*/%/#$-.,<%7'/#%/),'4.&%.*0%)-.&%.*1 0$-3%7#$-$%/#$%6*0$-&<'*+%+$*$/'4%0$($4/ +(&7- #"$hQNUX9%QUU`
/'F')/'438% L*% ,./'$*/3% 7'/#% $I/$*3'?$% '*1 '3% :*)7*9% .*0% /#$% 3,$4';4% 26/./')*% '* XN8 [,-$4#$-%B%$/%.&h%"#$%3,$4/-62%)(%,./#)1
?)&?$2$*/9%3<3/$2'4%-$/'*)'0%/#$-.,<%4.* /#$% (.2'&<% #.3% F$$*% '0$*/';$08% L(% .% 3,$1 +$*'4%26/./')*3%'*%[ELPeW%'*%GT%(.2'&'$3
F$% 0-.2./'4.&&<% $(($4/'?$% '*% 0$4-$.3'*+ 7'/#% P$/#$-/)*% 3<*0-)2$h% L2,&'4./')*3
4';4%26/./')*%#.3%*)/%F$$*%'0$*/';$09%'* ()-% 26/./')*% 0$/$4/')*% .*0% ;-3/% 4.3$% )(
/#$% #<,$-:$-./)3'3% .*0% /#$% (-$56$*4<% )( 3)2$% 4'-4623/.*4$3% 7#$-$% /#$-$% '3% .* ,-$*./.&% 0'.+*)3'38% B1 C!8%)&1 @%'+(&7-
'*($4/')*38% c$4.63$% /#$3$% 0-6+3% 4.*% $*1 .,,-),-'./$%(.2'&<%3/-64/6-$9%,-$*./.&%0'1 ##(hG!T9%QUUG
;=!
TQ8 a)+$-3%Sh%B-</#-):$-./)0$-2.3h%H%4&.31 GNT8 O:6&'4=% jM9% [4#7.-/=% aHh% f$-$0'/.-< G`G8 _'g')?.**.% jj9% a)F'*3)*1c)3/)2% Dh
3';4./')*% '*% .% 3/./$% )(% \6Ir% 49)&'(-()1 B .*0% .456'-$0% '4#/#<)3'3% ?6&+.-'38% C!&1 B L4#/#<)3'3h% B/')&)+<9% 0'.+*)3'39% .*0
@%'+(&7- '$hGQ!9%QUUW @%'+(&7- '"hTW9%QUUV 2.*.+$2$*/8 4+1 B1 ?-"!1 @%'+(&7- 'hXG9
GQN8 f$-2.*% gBh% _'3)-0$-3% )(% 4#)&$3/$-)& GWT8 _.?'3% S_9% Y$$*'+% af9% A.2'&&$-'% Sjh QUUV
F')3<*/#$3'3h%E-)/)/<,'4%2$/.F)&'4%2.&1 A)*\6$*/%.*0%-$/'46&./$%,.,'&&)2./)3'3 G`V8 S)3:)7'/=% _g% $/% .&h% E./#),#<3')1
()-2./')*% 3<*0-)2$38% =9+1 K7-1 I%!%& @g)6+$-)/1A.-/$.60% 3<*0-)2$Ch% H &)+'4% F.3'3% ()-% +-)7/#% (.'&6-$% '*% 4#'&1
#"!,-./!01!#ha!W9%QUUV 2'*)4<4&'*$1-$3,)*3'?$% 0$-2./)3'3 0-$*%7'/#%'4#/#<)3'3h%H*%$?.&6./')*%)(
GQ`8 D'.*+%A%$/%.&h%A#.-.4/$-'=./')*%)(%/'+$-1 7'/#)6/%$?'0$*4$%()-%<$.3/%'*%,./#)+$*1 46/.*$)63% 6&/-.3/-64/6-$9% $,'0$-2.&
/.'&% F.*0'*+% .*0% #.'-% 3#.(/% .F*)-2.&'1 $3'38% H% 3/60<% )(% VT% ,./'$*/3% .*0% .% ,-)1 ,$-2$.F'&'/<% F.--'$-% (6*4/')*9% .*0
/'$3% '*% /-'4#)/#')0<3/-),#<8% B1 4+1 4#(6 ,)3.&%)(%0'.+*)3/'4%4-'/$-'.8%A'1B1@%'+(&7- $*$-+<% $I,$*0'/6-$8% B1 D%6"(&' #')hXQ9
@%'+(&7- )"hQQN9%QUUW #)'hQX!9%QUU` QUUN
12+).&%'3d 3'/$8% e`.% .*0% eG`% .-$% ()6*0% '*% /#$% ,.&1
2),&.*/.-%$,'0$-2'39%*.'&%,&./$9%#.'-%()&&'1 "-2&%".&!
4&$9%)-.&%264)3.9%37$./%+&.*09%.*0%&.-<*I9
832()&1(' F6/%*)/%'*%*)-2.&%3:'*8%"#639%.F*)-2.&'1
/'$3%)(%/#$3$%:$-./'*3%.-$%&':$&<%/)%F$%0'31
/&%+.$!&%*+#
E()+1/'()*+O-/5- /-'F6/$0%4&'*'4.&&<%'*%/#$3$%3'/$38%eG!%#.3%.
&'2'/$0% F.3.&% $I,-$33')*% '*% /#$% ,.&1
$(')+,*#'
R+,*O-+3'-M/,(O 2),&.*/.-% $,'0$-2'3% F6/% '3% $I/$*3'?$&<
$I,-$33$0% '*% /#$% )6/$-% #.'-% -))/% 3#$./#
+-!'#$,&#
!5L<I');'/87J877
"=868'*;',8<?N
.*0%/#$%*.'&3Z%.F*)-2.&'/'$3%)(%/#'3%:$-.1
/'*%.-$%&':$&<%'*% /#$3$%3'/$38%S6/./')*3%'*
/#$%:$-./'*%+$*$3%&$.0%/)%.*%6*3/.F&$%;&.1
+.'+'G,+-1&'
2$*/%*$/7)-:8%"#$%4)0'3/-'F6/')*%)(%4$-1
/.'*%3/-64/6-.&%,-)/$'*3%7'/#%)/#$-%/'336$3
&)"!&*"$,$Gl @()-% $I.2,&$9% 2634&$9% *$-?$9% .*0% F-.'*C
H&&%/#$3$%4)*0'/')*3%.-$%-.-$8 2.<%$I,&.'*%3)2$%+$*$/'4% 0'3$.3$3%.33)1
4'./$0% 7'/#% 26&/',&$% )-+.*% '*?)&?$2$*/9
364#% .3% 0$32),&.:'*% .*0% ,&.:)+&)F'*
&."$,$Gl'+-!')+.2$G&-&#"# 26/./')*3% 7'/#% 4.-0')46/.*$)63% 3<*1 )57BAH75645='R8=54AI8=B5J'KA=B'5'=5=8'
E.&2),&.*/.-% :$-./)0$-2.3% @EEe3C% .-$% . 0-)2$3% .*0% 4)**$I'*% 26/./')*3% .33)4'1 C>4'N<?N79'I<L8=J8'?=A>H'AK'N8=8I<45=9'JR<6'
#$/$-)+$*$)63%+-)6,%)(%0'3)-0$-3%4#.-.41 ./$0%7'/#%EEe9%0$.(*$339%.*0%*$6-),./#<8 I<JA=I8=J;
/$-'=$0% F<% .F*)-2.&% /#'4:$*'*+% )(% /#$ _$32),&.:'*%'3%/#$%2)3/%.F6*0.*/%)( 1N=A6<O'4N<OR86<6?'AK'H57BJ'56I'JA78J'
,.&23% .*0% 3)&$38G% H6/)3)2.&% -$4$33'?$9 /#$% 0$32)3)2.&% ,-)/$'*3% .*0% .//.4#$3 B59'C8'KA>6I'57A68'WJ<BH78XQ'<6'OABC<65@
k1&'*:$09%.*0%0)2'*.*/%2)0$3%)(%'*#$-'1 /#$% LM% *$/7)-:9% ,.-/'46&.-&<% /#$% /<,$% LL 4<A6'P<4N'JR<6'78J<A6J'87J8PN8=8'WOAB@
/.*4$% .3%7$&&% .3%.456'-$0% ()-23%#.?$% .&& :$-./'*39% /)% /#$% 4$&&% 2$2F-.*$8% L/% .&3) H78SXQ'A='<6'5JJAO<54<A6'P<4N'OABH78S'
F$$*% 0$34-'F$08% "#$% ,.&2),&.*/.-% $,'1 F'*03% )/#$-% 0$32)3)2.&% ,-)/$'*3% 364# J96I=AB8J'WJ96I=AB<OXQ'<6O7>I<6?'8O4A@
0$-2'3% '3% .%3,$4'.&'=$0%$,'0$-2'38% S.*< .3% ,&.:)+&)F'*% .*0% ,&.:),#'&'*8% _$32)1 I8=B57'I9JH75J<5'PN8=8'N5<=Q'4884NQ'56I'
)(% /#$% EEe3% .-'3$% 06$% /)% '*#$-'/$0% +$*$ ,&.:'*% '3%&'*:$0%/)% /#$%0$32)3)2.&%4.01 65<7J'B59'C8'5KK8O48I;
0$($4/3% $*4)0'*+% /#$% 3/-64/6-.&% 4)2,)1 #$-'*3% @/#$% 0$32)4)&&'*3% .*0% 0$32)1 &S5B<654<A6'P<77'J>CO75JJ<K9'R8=54AI8=@
*$*/3% )(% /#$% :$-./'*)4</$8Q% "#$% 2)3/ +&$'*3C% '*0'-$4/&<% ?'.% /#$% F'*0'*+% )( B5J'5OOA=I<6?'4A'PN84N8='4N89'5KK8O4'4N8'
.F6*0.*/%,-)/$'*3%)(%/#$%:$-./'*)4</$%.-$ ,&.:)+&)F'*%.*0%,&.:),#'&'*8%"#$%0$32)1 PNA78'H57B'56I'JA78'WI<KK>J8XQ'A='5=8'
/#$%:$-./'*39%)(%7#'4#%$'+#/%:$-./'*%+$*$3 +&$'*3% .*0% 0$32)4)&&'*3% .-$% /#$% 4$&&J4$&& =8J4=<O48I'4A'BA=8'7<B<48I'5=85J'WKAO57X'A='
.-$% 26/./$0% '*% .% 7'0$% 3,$4/-62% )(% /#$ .0#$3'?$% ,-)/$'*3% )(% /#$% 0$32)3)2$8 C85I@7<R8'4<69'78J<A6J'WH>6O4548X;
:$-./)0$-2.38V%"#$%:$-./'*%'*/$-2$0'./$ E&.:)+&)F'*%'3%.&3)%.%4)2,)*$*/%)(%.0#$1
-$*3% >6*4/')*3% /#./% F'*0% .4/'*% ;&.2$*/3 1ABH7<O54<A6J'<6O7>I8'J8L8=8'H5<6Q'I<KT@
;&.2$*/3%@LM3C%.-$%.//.4#$0%./%/#$%,&.32.
-./#$-%/#.*%LM3%@3$$%A#.,8%WGC8 O>749'<6'P57R<6?Q'56I'J8OA6I5=9'<6K8O4<A6;
2$2F-.*$% /)% /#$% 2.'*% 4$&&% >6*4/')*% )(
/#$% $,'0$-2'39% /#$% 0$32)3)2$8% _$32)1 A)**$I'*3% .-$% /#$% 2.>)-% ,-)/$'* .N8'?8684<O'C5J<J'AK'B569'R8=54AI8=B5J'
3)2.&%,-)/$'*3%26/./$0%'*%/#$%:$-./)0$-1 4)2,)*$*/3% )(% /#$% +.,% >6*4/')*8% M)6- H5=4<O>75=79'<6LA7L8J'B>454<A6J'<6'?868J'
2.3% '*4&60$% 0$32),&.:'*9% ,&.:)+&)F'*9 4)**$I'*3% .-$% '2,&'4./$0% '*% 3:'*% 0'31 86OAI<6?'R8=54<6JQ'OA668S<6JQ'56I'I8J@
,&.:),#'&'*9% .*0% 0$32)3)2.&% 4.0#$-'*3 $.3$39%)(/$*%'*%3<*0-)2'4%()-23%.33)4'1 BAJAB57'OABHA6864J;
@3$$%A#.,8%NNC8N%S6/./')*3%'*%)/#$-%>6*41 ./$0%7'/#%#$.-'*+%&)33%)-%*$6-),./#<8W9` +JJAO<548I'O5=I<AB9AH54N<8JQ'I85K68JJQ'
/')*.&% ,-)/$'*3% )(% /#$% .0#$-$*3% >6*4/')* g.,% >6*4/')*39% ()-2$0% (-)2% .56$)63 O56O8=Q'B>JO>7AJR878457'56I'68>=A7A?<O'
.*0% +.,% >6*4/')*3% .-$% .&3)% '2,&'4./$0% '* 4)**$I'*% 4#.**$&39% (.4'&'/./$% '*/$-4$&&61 I<JA=I8=J'O56Q'<6'H5=4Q'C8'8SH75<68I'C9'4N8'
/#$3$%3:'*%0'3$.3$38%"#$3$%/#-$$%4$&&%>6*41 &.-% 4)226*'4./')*9% .&&)7'*+% /#$% $I1 >6I8=79<6?'C<A7A?9'56I'4<JJ>8'8SH=8JJ<A6'
/')*%/<,$3%#.?$%:$<%-)&$3%'*%:$-./'*)4</$ 4#.*+$% )(% 32.&&% 2)&$46&$3% F$/7$$* AK'5KK8O48I'?868J;
.0#$3')*%.*0%4$&&J4$&&%4)226*'4./')*8 4$&&38%"#'39%'*%/6-*9%&$.03%/)%4))-0'*./')*
.=854B864J'45=?84'=8BAL57'AK'N9H8=R8=5@
H&/#)6+#% 2.*<% )(% /#$% 3/-64/6-.&% ,-)1 7'/#'*%/#$%/'336$9%2$0'./'*+%0'(($-$*/'.1
4A4<O'B548=<57'C9'R8=54A794<OJ'56I'J9J@
/$'*3% ()6*0% '*% /#$% ,.&2),&.*/.-% $,'0$-1 /')*%.*0%-$3,)*3$%/)%4$&&6&.-%0.2.+$8
48B<O'=84<6A<IJY'5HH=AH=<548'KAA4P85='<J'
2'3%.-$%*)/%,.&2),&.*/.-13,$4';49%)/#$-39 P)*13/-64/6-.&% ,-)/$'*3% .-$% .&3)% '*1
N87HK>7;
;=; 364#%.3%:$-./'*%T%@eTC9%.-$%6*'56$%/)%/#'3 ?)&?$0%'*%/#$%,./#)+$*$3'3%)(%/#$%:$-./)1
0$-2.39% '*4&60'*+% /#$% [DRaEG% ,-)/$'*9
!"#$%&'1()
7#'4#%'3%3$4-$/$0%.*0%'*?)&?$0%'*%4$&&%3'+1
J(%(,&+%&4$H#2DH$%*$)&'()$*2-()#$&?44'@
*.&'*+%.*0%.0#$3')*8%H%2$/.F)&'4%0$($4/
'*% /<-)3'*$% .2'*)/-.*3($-.3$% &$.0'*+% /) =;05 ;A
'*4-$.3$0% 3$-62% /<-)3'*$% .*0% ,#$*)&'4 '578.;057=8&.345 69!576.89C5 I9057<369J&J595&05A5C.
.4'0% 2$/.F)&'/$3% .&3)% -$36&/3% '*% :$-./)1 &))/ +! /a]/Z
0$-2.8 ".F&$%NX1G%,-)?'0$3%.*%)?$-?'$7
)5ON9A69ON<5'OA6?86<457'49H8J'"'56I'"" +! /`5Q'/`CQ'/Z`Q'56I'/Zc
)(% /#$% 0'(($-$*/% :$-./)0$-2.39% /#$'-
2)0$% )(% '*#$-'/.*4$9% .*0% 6*0$-&<'*+ "ON4N9AJ<J'N9J4=<S +! /Z
+$*$%0$($4/3%0'34633$0%'*%/#'3%4#.,/$-8 EANP<6R87'J96I=AB8 +! 1S_`
/"!'J96I=AB8 +! 1S_`]1Sb[
1,"-"1+,'("-!"-G#
))/'56I'N85=<6?'7AJJ +! 1S_`
G868=57 &/E +!]+% 1SbZ]1Sb[;b
"#-$$% 0'3/'*4/% 4&'*'4.&% ,.//$-*3% )(% EEe 2&! +! 1Sb[
2.<%F$%'0$*/';$0h
e5=4@)>BHN=89'J96I=AB8'WN85=<6?'7AJJQ'))/Q'R6>OR78' +! 1S_`
y @"..9)%1DDX9%7#'4#%'3%4#.-.4/$-'=$0%F< H5IJQ'56I'78>RA69ON<5X
.*% $?$*9% /#'4:9% 3<22$/-'4% #<,$-:$-.1
$O>7A@I864A@I<?<457'I9JH75J<5'WI8L87AHB864'AK'4N8' +! 1S3b
/)3'3% )?$-% /#$% 7#)&$% )(% /#$% ,.&2% .*0
K5O8Q'898JQ'JR878457'J9J48BQ'N85=4Q'56I'I864<4<A6Q'H7>J'
3)&$8%"#'3%,.//$-*%'3%636.&&<%$?'0$*/%./
R8=54AI8=B5X
F'-/#%)-%'*%/#$%;-3/%($7%2)*/#3%)(%&'($8
y R7#(-1 DDX9% '*% 7#'4#% &.-+$9% 4)2,.4/ !<KK>J8'-&))/ +! Z_\ZZ@\Zb'A='!8JBA@
2.33$3%)(%:$-./'*%0$?$&),%./%3'/$3%)( ?78<6'Z'
-$46--$*/% (-'4/')*9% ,-'*4',.&&<% )*% /#$ #4=<548'R8=54AI8=B5 +! !8JBAH75R<6Q'!8JBA@
($$/9%.&/#)6+#%.&3)%)*%/#$%,.&23%.*0 ?78<6'ZQ'A='/Z
)/#$-%3'/$38%"#$%,.//$-*%)(%4.&&63$3%'*
#R<6'K=5?<7<49@8O4AI8=B57'I9JH75J<5'J96I=AB8 +% )75RAHN<7<6'Z
/#'3% ()4.&% +-)6,% 2.<% F$% $'/#$-% 0'31
4)'0%@*6226&.-C%)-%&'*$.-8 #))/'A='&))/Q'PAA779'N5<=]O5=I<AB9AH54N9 +!]+% !8JBAH75R<6
y D9!#&(&%1 DDX9% '*% 7#'4#% 26&/',&$% /'*< ,84N57'5O564NA794<O'8H<I8=BA79J<J'C>77AJ5 +% !8JBAH75R<6
]-.'*0-),^% :$-./)3$3% '*?)&?$% /#$% ,.&1
2),&.*/.-%36-(.4$8%"#$<%2.<%'*?)&?$ -&))/Q'PAA779'N5<=Q'56I'+%E1'W-5SAJ'I<J85J8X +% )75RA?7AC<6
/#$%7#)&$%)(%/#$%,.&2),&.*/.-%36-(.4$ )5H<77A6@,8KyL=8]25<B@*>6R'J96I=AB8 +% 154N8HJ<6'1
)-%2.<%F$%2)-$%-$3/-'4/$0%'*%/#$'-%0'31
*57'I8'*878I5 +% #7>=HZ
/-'F6/')*%@'8$89%,.&2.-%4-$.3$3C8
15B<J5'I<J85J8'WNA689OABC'H57BAH75645='R8=54A@ +! ,A=<O=<6
A)*3'0$-.F&$% '*/-.1% .*0% '*/$-(.2'&<
I8=B5'P<4N'<ON4N9AJ<JX
?.-'./')*% '3% )(/$*% 3$$*8% f'3/)-'4.&&<9% $21
,#.3'3% '*% 4&'*'4.&% 0'.+*)3'3% #.3% F$$* 1&!-"/'J96I=AB8 +% #-+)_a'WL8J<O78'K>J<A6X
,&.4$0%)*%/#$%$I/$*/%)(%3,-$.0%@/-.*3+-$1 $O>7AO>4568A>J'49=AJ<68B<5 +% .9=AJ<68'5B<6A4=56J@
0'$*3C% )(% /#$% :$-./)0$-2.% )*/)% /#$ K8=5J8
7-'3/39% 0)-3.% )(% /#$% #.*039% :*64:&$39% $&1
F)739%.*0%:*$$38%f)7$?$-9%/-.*3+-$0'$*3 -&))/'56I'J86JA=<68>=57'I85K68JJ *<4AONA6I=<57
'3% .% #'+#&<% ?.-'.F&$% ($./6-$9% $?$*% 7'/#'* W+c33^GX
/#$%3.2$%(.2'&<9%.*0%,-)F.F&<%-$,-$3$*/3 2>=<8V'J96I=AB8 +! 3\_b
&'//&$% 2)-$% /#.*% /#$% *)-2.&% ?.-'./')*% '* /,"1/'J96I=AB8 +% Zb\
/#$%$I/$*/%)(%-'0+$0%3:'*%'*%/#./%,.-/'46&.-
,./'$*/8% ['2'&.-&<9% /#$% ,-)+-$33')*% 7'/# )>6O4548'))/ +! Z^\__;_jZ^\__;bZ
.+$% @,-)+-$0'$*3C% '3% 6*#$&,(6&% F$4.63$ (AO57'))/'P<4N'8JAHN5?857'O56O8=' +! Zc\_^
2.*<%)(%/#$%:$-./)0$-2.3%.-$%'*064$0%F<
,#<3'4.&%/-.62.Z%/#63%/#$%3$?$-'/<%)(%/#$ +!'i'5>4AJAB57'IAB<6564Y'+%'i'5>4AJAB57'=8O8JJ<L8Y'+%E1'i'5==N94NBA?86<O'=<?N4'L864=<O>75='O5=I<AB9AH@
:$-./)0$-2.%2.<%-$\$4/%/#$%,#<3'4.&%.41 54N9Y'1&!-"/'i'8&=8C=57 ;9J?868J<JQ'/8>=AH54N9Q'9 ON4N9AJ<JQ'56I': 8=54AI8=B5Y'1S'i'OA668S<6Y'&))/'i'8H<@
I8=BA794<O'H57BAH75645='R8=54AI8=B5Y'&/E'i'8=94N=AR8=54AI8=B<5'L5=<5C<7<JY'2&!'i'N<I=A4<O'8O4AI8=B57'
/'?'/<%.*0%7$'+#/%)(%/#./%,./'$*/8 I9JH75J<5Y'/Z'84O;'i'R8=54<6'ZY'/"!'i'R8=54<4<JQ'<ON4N9AJ<JQ'56I'I85K68JJY'/,"1/'i': 8=54AJ<J '<685=<J'P<4N'9 ON@
"#$%:$-./)0$-2.3%4.*%.00'/')*.&&<%F$ 4N9AJ<J 8 A6?86<45'56I'JO78=AJ<6?': 8=54AI8=B5Y'-&))/'i'6A68H<I8=BA794<O'H57BAH75645='R8=54AI8=B5Y'
4&.33';$0%'*/)%/#-$$%(6-/#$-%36F+-)6,3 #7>=HZ'i'J8O=848I',l`]),+M%'IAB5<6'OA645<6<6?'ZY'#-+)_a'i'J965H4AJAB57@5JJAO<548I'H=A48<6'_aY'#))/'
i'J4=<548'H57BAH75645='R8=54AI8=B5;
y F"+,-% :$-./)0$-2.3%7'/#%)*&<%EEe
y ?7+,-%S%:$-./)0$-2.3%7'/#%EEe%.33)1
4'./$0% 7'/#% &$3')*3% )(% *)*?)&.-% 3:'*9 48779M$- RATVPRTAWJA:- E$:AJP4$:VA /')*% /#./% ,-$3$*/3% 7'/#'*% /#$% ;-3/% ($7
#.'-9%/$$/#9%*.'&39%.*0d)-%37$./%+&.*039 !"##$%&' ()"*&+,-./0"1' 223' 4223' 5$, 2)*/#3% )(% &'($8% "#$% :$-./)0$-2.% ,-$1
'*4&60'*+%/#$%$4/)0$-2.&%0<3,&.3'.3 !&6&7&+80"-7&' 9+87$.-%8' :;+7&+<' :;+7&+=% 3$*/3% .3% .% 7$&&10$2.-4./$09% 3<22$/-'4
y F/!6'7+"#% :$-./)0$-2.3% 7'/#% EEe ()"*&+,-./0"1' 28.,-).8708+' 3&+80-*&+,8 /#'4:$*'*+%)(%,.&23%.*0%3)&$3%.*0%)(/$*
.33)4'./$0% 7'/#% .F*)-2.&'/'$3% )( >?",).&@AB _'((63$% $,'0$-2)&</'4% EEe% '3 #.3% .% ]0'-/<^% 3*.:$3:'*% .,,$.-.*4$% 06$
)/#$-%)-+.*39%'*4&60'*+%0$.(*$339%4.-1 )*$% )(% /#$% 2)3/% 4)22)*% ,.//$-*3% )( /)% /#$% 6*0$-&<'*+% $,'0$-2)&<3'3% /#./
0')2<),./#<9%.*0%4.*4$- EEe8%L/%'3%.*%.6/)3)2.&%0)2'*.*/%4)*0'1 ,-)064$3% .% ?$-<% 4#.-.4/$-'3/'4% ;336-'*+
;=#
.% 7$&&10$2.-4./$09% 3<22$/-'49% )(/$* 223' -#' ?/O&+0' 49+&"0G&+' 28.,-).8708+
]7.I<^% :$-./)0$-2.% '*?)&?'*+% /#$ 3&+80-*&+,8<' 3&+80-%"%' 28.,-).8708+"%
7#)&$%)(%/#$%,.&23%.*0%3)&$3%@M'+8%NX1QC F+87%6+&*"&7%' &0' 2+-6+&*"&7%<' 3&+80-%"%
7'/#%.%3#.-,%46/)((%./%/#$%7-'3/8%[,-$.0 (J0+&,"080$,'K&+&*"08+"8'2+-6+&*"&7%'>5-,E
)(%/#$%#<,$-:$-./)3'3%/)%/#$%0)-3.%)(%/#$ ).&J@AB EEe%)(%[<F$-/%'3%.*%$I/-$2$&<%-.-$
#.*03% .*0% 7-'3/3% '3% .% ?.-'.F&$% ($./6-$ .6/)3)2.&% 0)2'*.*/% :$-./)0$-2.% 7'/#
7'/#'*% 2)3/% ,$0'+-$$3% F6/% .% ]4)FF&$1 3<22$/-'4% 3$?$-$% '*?)&?$2$*/% )(% /#$
3/)*$^% #<,$-:$-./)3'3% )(% /#$% :*64:&$3 7#)&$% ,.&2),&.*/.-% 36-(.4$% '*% .% +&)?$1
2.<%F$%3$$*8%"#$%0)-3.%)(%/#$%;*+$-3%.-$ .*013/)4:'*+% 0'3/-'F6/')*8% [,-$.0% )(% /#$
)(/$*% '*?)&?$09% 7'/#% .% 34&$-)0$-2.1&':$ :$-./)0$-2.%'*?)&?$3%$&F)73%.*0%:*$$38
/#'4:$*'*+%)(%/#$%3:'*%0'3/.&%/)%/#$%,-)I'1 E3$60).'*#62% ()-2./')*% 7'/#% .2,6/.1
2.&% '*/$-,#.&.*+$.&% >)'*/8% B&F)73% .*0 /')*%)(%/#$%0'+'/3%#.3%F$$*%0$34-'F$08
:*$$3% .-$% -.-$&<% '*?)&?$0% ]E.--)/
F$.:'*+^%)(%/#$%;*+$-*.'&3%.*0%7'0$*'*+ H.,%0&*'?/7*+-,&'4P$0".80"76'28.,-).87E
)(% /#$% )*<4#)4)-*$.&% F.*0% .-$% 4#.-.41 08+' 3&+80-*&+,8' M"0G' 2&+"-+"S1"8.' 3&+8E
/$-'3/'48% [$4)*0.-<% 0$-2./),#</$% '*($41 0-0"1' 2.8T$&%<' 2-./I&+80-%"%' -#' F-$+8"7&
/')*9% &$.0'*+% /)% 2.4$-./')*% .*0% ,$$&'*+ >?/7*+-,"1@AB Y'/#%/#$%$I4$,/')*%)(%)*$
)(% /#$% ,.&23% .*0% 3)&$39% '3% .% 4)22)* (.2'&<%'*%7#'4#%.%2)/#$-%.*0%3)*%7$-$
4)2,&'4./')*8%L/%'3%)(%*)/$%/#./%-$1$I.2'1 .(($4/$09% 36++$3/'*+% .6/)3)2.&% 0)2'1
*./')*%)(%/#$%#'3/)&)+<%)(%/#$%'*0$I%(.21 *.*/% /-.*32'33')*9% .&&% 4.3$3% )(% O&23/$0
'&<% )(% R**.1"#)3/% 0'3$.3$9% #.3% 3#)7* 3<*0-)2$%.,,$.-%/)%F$%3,)-.0'48%_'((63$
78.9:$-;?<> !<KK>J8' 8H<I8=BA794<O' H57BA@ /#./% /#'3% (.2'&<% #.0% $,'0$-2)&</'4% EEe 26/'&./'*+%:$-./)0$-2.%)(%/#$%,.&23%.*0
H75645=' R8=54AI8=B5;' +' fI<=49g' R8=54AI8=B5' <6@ -./#$-%/#.*%*)*$,'0$-2)&</'48 3)&$3%7'/#%\$I')*%0$()-2'/<%)(%/#$%0'+'/3
LA7L<6?' 4N8' 864<=8' H57B5=' J>=K5O8' <J' I8BA6@ F$+'*3% '*% '*(.*4<8% A)*3/-'4/'*+% F.*03
J4=548I;' WMJ8I' P<4N' H8=B<JJ<A6' K=AB' e5=4J' 56I K$+"&L' ?/7*+-,&' 4223' M"0G' ?1.&+-*810/./< .-)6*0%/#$%0'+'/3%&$.0%/)%.6/).2,6/./')*
4N8',A6IA6'-2#'.=>J4Q'M6<48I'/<6?IAB;X ?1.&+-80+-)G"1'87*'3&+80-0"1'!&+,80-%"%'-# )(%/#$%0'+'/38%"#$-$%.-$%,-)+-$33'?$%,$-')1
N",O%<'?1.&+-0/.-%"%'>?/7*+-,"1@AB f6-'$= -.&9%,$-'.*.&9%.*0%,$-'*$.&%#<,$-:$-./)/'4
@M'+8% NX1GC8% e*64:&$% ,.03% #.?$% F$$*% -$1 3<*0-)2$%'3%.*%.6/)3)2.&%0)2'*.*/ ,&.56$3% /#./% 2.<% $I/$*0% /)% /#$% '**$-
,)-/$0%-.-$&<9%.*0%/#$-$%2.<%F$%2'*'2.& :$-./)0$-2.%7'/#%34&$-)0.4/<&<%/#./ /#'+#%.*0%+-)'*8% H&),$4'.9%0$.(*$339%*.'&
'*?)&?$2$*/%)(%/#$%$&F)73%.*0%:*$$38 ,-$3$*/3%(-)2%F'-/#%7'/#%.%0'((63$%3<21 0<3/-),#<9%.*0%0$*/.&%&)33%#.?$%.&&%F$$*
2$/-'4%:$-./)0$-2.%)(%/#$%,.&23%.*0 -$,)-/$08% A)-*$.&% $,'/#$&'.&% 0<3,&.3'.9
!"##$%&' C-7&)"*&+,-./0"1' 223' 4D778EFG-%0 3)&$38%"#$%;*+$-3%#.?$%.%,3$60)34&$-)1 &$.0'*+%/)%4)-*$.&%34.--'*+%.*0%?'36.&%'21
!"%&8%&<' !"##$%&' H+0G-G/)&+I&+80-0"1' 3&+8E 0$-2./)63%.,,$.-.*4$8%H/-),#'4%;F-)1 ,.'-2$*/9% #.3% F$$*% -$,)-/$0% '*% )*$% ,.1
0-*&+,8<' F/.-%"%<' 3&+80-%"%' 28.,-).8708+"% 3'3%)(%&'2F%3:'*%.&3)%2.<%F$%3$$*8%l.-'1 /'$*/9% .*0% &$6:):$-./)3'3% #.3% F$$*% -$1
!"##$%8' 5"+1$,%1+")08<' 3&+80-%"%' (J0+&,"E .F&$%*.'&%($./6-$3%#.?$%F$$*%0$34-'F$09 ,)-/$0% '*% /7)% ,./'$*/38% H4-)0$-2./'/'3
080$,'2+-6+&*"&7%'>?",).&@AB _'((63$% *)*1 7'/#%&)*+'/60'*.&%-'0+'*+%#<,),&.3'. $*/$-),./#'4.% *$$03% /)% F$% $I4&60$0% F<
$,'0$-2)&</'4%EEe%'3%'*#$-'/$0%.3%.*%.61 .*0%4&6FF'*+8%[56.2)63%4$&&%4.-4'*)2. 2$.36-$2$*/%)(%3$-62%='*4%&$?$&38
/)3)2.&% 0)2'*.*/% 4)*0'/')*% .*0% '3 0$?$&),3%'*%/#$%./-),#'4%3:'*%'*%/#$
,-$3$*/%(-)2%'*(.*4<8%A&'*'4.&&<9%/#$-$%'3 /#'-0%/)%()6-/#%0$4.0$39%.*0%F)7$&%4.*1 5-76&7"08.' 2-"I".-*&+,8' M"0G' F+8$,80"1
4$-%.&3)%#.3%F$$*%0$34-'F$0%'*%.33)4'.1 U$..8' V-+,80"-7<' Q7G"*+-%"%<' 87*' 3&+80-E
/')*%7'/#%/#'3%,#$*)/<,$8 *&+,8' 4C8&6&."EV+871&%1G&00"EW8*8%%-G7
?/7*+-,&'>5-,).&J@AB A)*+$*'/.&%,)':'1
P8.' *&' P&.&*8' 4P$0".80"76' 223' -#' 0G& &)0$-2.%7'/#%/-.62./'4%F6&&.%()-2./')*9
98,O-+6EC"&.%&7'F/)&<'Q1+8.'3&+80-*&+,8< .*#'0-)3'39%.*0%:$-./)0$-2.%'3%.*%.6/)1
28.,-).8708+' (10-*&+,8.' !/%).8%"8' F/)& 3)2.&%0)2'*.*/%4)*0'/')*9%7'/#%)*3$/
:RRR'>5-,).&J@AB S.&%0$%S$&$0.%'3%.*%.6/)1 7'/#'*%/#$%;-3/%($7%<$.-3%)(%&'($9%7#'4#
3)2.&% -$4$33'?$% :$-./)0$-2.% /#./% ,-$1 ,-$3$*/3%7'/#%-$/'46&./$%,'+2$*/./')*
3$*/3% ./% F'-/#% )-% '*% $.-&<% '*(.*4<8% "#$ /#./%2.<%F$%$I/$*3'?$%.*0%*)/%,-$4$0$0
:$-./)0$-2.%'3%0'((63$9%3<22$/-'4.&&<%'*1 F<%.*<%'*\.22./')*8%"#$%,'+2$*/./')*
?)&?'*+% /#$% ,.&23% .*0% 3)&$3% 7'/#% 3,-$.0 ,.-/'46&.-&<%'*?)&?$3%/#$%*$4:%.*0%.I'&&.8
/)%/#$%0)-3.%)(%/#$%#.*03%'*%.%+&)?$1.*01 H%0'((63$%:$-./)0$-2.%7'/#%,6*4/'()-2
3/)4:'*+% 0'3/-'F6/')*8% e*64:&$% ,.03% 7'/# .*0%&'*$.-%.44$*/6./')*3%'3%636.&&<%3$$*9
$&F)7%.*0%:*$$%#<,$-:$-./)3'3%#.?$%F$$* .*0%.0$-2./)+&<,#'.%)446-38%"#$%#.'-%'3
0$34-'F$08%A)*3/-'4/'*+%F.*03%@,3$60).'*1 *)-2.&9%F6/%?.-'.F&$%*.'&%4#.*+$3%#.?$
#62C%.-)6*0%/#$%0'+'/3%2.<%0$?$&),%@3$$ F$$*%0$34-'F$09%(-)2%.&2)*0%*.'&3%/)%)*1
A#.,8% ``C9% -$36&/'*+% '*% &)33% )(% (6*4/')* <4#)0<3/-),#<8%"#$%/$$/#%#.?$%$*.2$&
.*0% .6/).2,6/./')*% )(% 0'+'/38% e)'&)*<1 0$($4/39%.-$%.F*)-2.&&<%3#.,$09%.*0%.-$
4#'.9%36F6*+6.&%#<,$-:$-./)3'39%&)*+'/60'1 &)3/%$.-&<8%f<,)#'0-)3'3%)-%.*#'0-)3'3%'3
78.9:$-;?<= !<KK>J8' 6A68H<I8=BA794<O' H57@
*.&% +-))?'*+9% )*<4#)+-<,#)3'39% .*0% &$61 /#$%,-'*4',.&%,-)F&$29%&$.0'*+%/)%#$./%'*1
BAH75645=' R8=54AI8=B5;' -A48' 4N8' P5S9' R8=54A@ :):$-./)3'3% .&3)% #.?$% F$$*% 0$34-'F$08 /)&$-.*4$8%c$4.63$%/#'3%0'3)-0$-%7.3%4)*1
I8=B5' <6LA7L<6?' 4N8' 864<=8' H75645=' J>=K5O8' P<4N O/#$-%.33)4'./')*3%'*4&60$%.*+6&.-%4#$'&'1 3'0$-$0%'*'/'.&&<%/)%F$%.%*)*'*\.22./)-<
<6LA7L8B864' AK' 4N8' 6A6jP8<?N4@C85=<6?' I<?<4J; /'39% #<,$-#'0-)3'39% .*0% ,))-% ,#<3'4.&% 0$1 ?.-'.*/%)(%'*4)*/'*$*/'.%,'+2$*/'9%/-.*3'1
WMJ8I'P<4N'H8=B<JJ<A6'K=AB'e5=4J'56I'4N8',A6IA6 ?$&),2$*/% 7'/#% $&$4/-)$*4$,#.&)+-.,#'4 /')*.&%4.3$3%F$/7$$*%/#$%/7)%3<*0-)2$3
-2#'.=>J4Q'M6<48I'/<6?IAB;X .*)2.&'$3%.*0%F-.4#<0.4/<&<8 #.?$%F$$*%0$34-'F$08
;=6
6*+6.&% #<,$-:$-./)3'3% 4#.-.4/$-'3/'4% )(
,.4#<)*<4#'.%/<,$%L8%c&'3/$-'*+%2.<%)446-
)*%7.&:'*+9%/#63%&'2'/'*+%,#<3'4.&%.4/'?'/<8
B,'0$-2)&<3'3%'3%.%?.-'.F&$%($./6-$8
;!>
L/3%,-$?.&$*4$%#.3%F$$*%$3/'2./$0%./%G%'*
12+).&%'3a Q`9VUU% '*% [&)?$*'.9G% G% '*% VU9UUU% '*% [4)/1 !+%"&%@F2".&'
&.*09Q% G% '*% V`9UUU% '*% *)-/#$.3/% B*+&.*09V
78.9:$-;@<> +'J<BH7<T8I'=8H=8J86454<A6'AK'15_z'J<?657<6?'<6'R8=54<6AO948J;'Z;'15_z'C<6I<6?'4A'<4J'H75JB5'B8BC=568'=8O8H4A='W15%X'5O4<L548J'HNAJHNA7<H5J8
1 'W),1 X;'_;'.N<J'O5>J8J'4N8'N9I=A79J<J'AK'HNAJHN54<I97<6AJ<4A7'3Q^@C<JHNAJHN548'W)")_X'<64A'<6AJ<4A7'ZQ3Q^@4=<J@HNAJHN548'W")bX'56I'I<5O97?79O8=A7'W!+GX;'b;'")b
C<6IJ'4A'<4J'=8O8H4A='W")b%X'54'4N8'J>=K5O8'AK'4N8'86IAH75JB<O'=84<O>7>B'W&%X'56I'GA7?<'5HH5=54>JQ'PN<ON'O5>J8J'4N8'I8H784<A6'AK'<64=5O877>75='J4A=8J'56I'<6I>O8J'56
<6O=85J8'<6'<64=5O877>75='15_z'78L87J;'3;'.N<J'<6O=85J8'4=<??8=J'4N8'AH86<6?'AK'15_z'=8785J8j5O4<L548I'ON56687J'<6'4N8'H75JB5'B8BC=568Q'PN<ON'785IJ'4A'5'J>J45<68I
<6O=85J8'<6'15_z'<64=5O877>75='78L87J;'^;'15_z'C<6IJ'4A'O57BAI>7<6Y'4N<J'5O4<L548J'O57O<68>=<6'56I'O57BAI>7<6@I8H86I864'H=A48<6'R<65J8JQ'PN<ON'=8?>7548'?868'4=56J@
O=<H4<A6'4N=A>?N'HNAJHNA=9754<A6]I8HNAJHNA=9754<A6'AK'4=56JO=<H4<A6'K5O4A=J;'`;'+O4<L8'15_z'4=56JHA=4'C9'4N8'I<KK8=864'J5=OA]86IAH75JB<O'=84<O>7>B'O57O<>B'5I86A@
J<68'4=<HNAJHN545J8'W+.)5J8X'H>BHJ'W#&%1+Z'4A'#&%1+bX'56I'N>B56'J8O=84A=9'H54NP59'15_z]*6_z@+.)5J8'WN#)1+ZX'H>BH'<J'8JJ864<57'4A'=8H786<JN'&%'56I
GA7?<'15_z'J4A=8JQ'=8JH8O4<L879;'N#)1+Z'<J'57JA'=8\><=8I'KA='*6_z'<6h>S'<64A'4N8'GA7?<'5HH5=54>J'W6A4'<6I<O548I'N8=8X;'c;'15_z'8Kh>S'4A'4N8'8S4=5O877>75='JH5O8'<6@
LA7L8J'H75JB5'B8BC=568'15_zj+.)5J8J'W)*1+X'56I'-5z]15_z'8SON56?8=J'W-1pX;'d;'*<4AONA6I=<5'45R8'>H'15_z'=8785J8I'K=AB'4N8'<648=657'J4A=8J'I>=<6?'15_z
J<?657<6?'L<5'4N8'15_z'>6<HA=48='56I'=84>=6'<4'4A'4N8'O94AJA7'4N=A>?N'56'-1p;'.N>JQ'15_z'NAB8AJ45J<J'=8\><=8J'I<KK8=864<57'15_z'OA6O864=54<A6J'<6'4N8'O94AJA7Q'4N8
J5=OA]86IAH75JB<O'=84<O>7>BQ'4N8'GA7?<'5HH5=54>JQ'4N8'B<4AONA6I=<5Q'56I'4N8'6>O78>J'AK'4N8'O877;'.N8'75=?8J4'J4A=8'AK'O877>75='15_z'<J'7AO548I'<6'4N8'&%'7>B86'56I
<6'15_z@C<6I<6?'H=A48<6J;'15_z'J<?657<6?'<J'N<?N79'=8?>7548I'56I'?868=548I'C9'<6h>S'4N=A>?N'15_z'=8O8H4A=JQ'=8785J8'K=AB'<648=657'J4A=8J'W&%Q'GA7?<'5HH5=54>JQ'B<@
4AONA6I=<A6XQ'56I'J8\>8J4=54<A6'C9'15_z'H>BHJ'W#&%1+JQ'N#)1+ZX'56I'15_z'8SON56?8=J;'B-1p'i'B<4AONA6I=<5'-5_z]15_z'8SON56?8=;
/#$3$% 26/./')*3% &$.03% /)% .% E"A9% 7#'4# .*% '*4-$.3'*+% $,'0$-2.&% +-.0'$*/% '*% /#$ 4$&&6&.-% 3/)-$3% '*/)% /#$% 4</),&.328% B2,1
'*0'4./$3% /#./% &)33% )(% [BaAHQF% $I,-$31 *)-2.&%3:'*9%(-)2% /#$%F.3.&% &.<$-% /)% /#$ /<'*+% )(% Ba% A.Qn% 3/)-$3% .4/'?./$3% .*% '*1
3')*% '3% 36(;4'$*/% /)% 4.63$% __% .*0% /#./ 36,$-;4'.&%&.<$-38%f'+#%$I/-.4$&&6&.-%4)*1 \6I%)(%$I/-.4$&&6&.-%A.Qn%/#-)6+#%,&.32.
[BaAHQ.% '3)()-2% 4.**)/% 4)2,$*3./$ 4$*/-./')*3%.-$%-$56'-$0%()-%$,'0$-2.&%'*1 2$2F-.*$% A.Qn% 4#.**$&39% 7#'4#% (6*41
()-%'/8%"#'3%;*0'*+%'3%4)*3'3/$*/%7'/#%/#$ /$-4$&&6&.-% .0#$3')*9% 0'(($-$*/'./')*9% .*0 /')*%&':$%3/)-$1),$-./$0%4#.**$&3%@4.,.4'1
(.4/%/#./%/#$%2)3/%,-)2'*$*/%$I,-$33')* 4)-*';4./')*8% A.Qn% 3'+*.&'*+% '*?)&?$3 /'?$% $*/-<% 2$4#.*'32C8VQ% "#$% 2)&$46&.-
)(% [BaAHQF% '3% '*% /#$% $,'0$-2'39% .&1 F'*0'*+% )(% -.'3$0% $I/-.4$&&6&.-% A.Qn% /)% . '0$*/'/<% )(% /#$3$% 4#.**$&3% /#./% .2,&'(<
/#)6+#% F)/#% '3)()-23% .-$% $I,-$33$0% '* A.Qn% ,&.32.% 2$2F-.*$% -$4$,/)-9% 7#'4# /#$% A.Qn% -$3,)*3$% #.3% *)/% F$$*% 4&$.-&<
46&/6-$0%:$-./'*)4</$38GG9QV .4/'?./$3%,#)3,#)&',.3$%A%.*0%+$*$-./$3 $3/.F&'3#$09%F6/%/#$<%4)6&0%'*4&60$%/-.*1
"#$%-)&$%)(%$I/-.4$&&6&.-%A.Qn%'*%:$-./'1 '*)3'/)&%G9N9W1/-'31,#)3,#./$%@LEVC%.*0%0'1 3'$*/% -$4$,/)-% ,)/$*/'.&% 4#.**$&38VV% "#$
*)4</$% .0#$3')*% .*0% 0'(($-$*/'./')*% #.3 .4<&+&<4$-)&% (-)2% ,#)3,#./'0<&'*)3'/)& [BaAHQ% ,62,% ,&.<3% .% :$<% -)&$% '*% A.Qn
F$$*%7$&&%0)462$*/$09%F6/%/#$%:$<%(6*41 F'3,#)3,#./$%@M'+8%NT1GC8%LEV%'*%/6-*%.4/3 3'+*.&'*+% F<% -$;&&'*+% /#$% '*/$-*.&% A.Qn
/')*%)(%[BaAHQF%'*%'*/-.4$&&6&.-%A.Qn%#)1 .3%.%3$4)*0%2$33$*+$-9%F'*0'*+%/)%'/3%-$1 -$3$-?)'-%)(%/#$%Ba9%7#'4#%'3%4)*3'0$-$0
2$)3/.3'3% '*% /#$% $,'0$-2'3% 7.3% 6*3631 4$,/)-3%)*%/#$%Ba%@.*0%g)&+'%.,,.-./63C /#$% 2.>)-% '*/-.4$&&6&.-% A.Qn% 3/)-$8% O*
,$4/$08%L*%*)-2.&%:$-./'*)4</$39%/#$-$%'3 /)%/-'++$-%-$&$.3$%)(%A.Qn%(-)2%/#$%'*/-.1 3/'26&./')*9%/#$%-$&$.3$%)(%A.Qn%(-)2%/#$
;!!
Ba% 3/)-$% 7'&&% &$.0% /)% 3,$4';4% 4$&&6&.-% -$1
3,)*3$39% 0$,$*0'*+% )*% /#$% .2,&'/60$9
(-$56$*4<9% .*0% 36F14$&&6&.-% &)4./')*% )(
/#$%A.Qn%3'+*.&8%A.Qn%/-'++$-3%/#$%37'/4#
F$/7$$*% :$-./'*)4</$% ,-)&'($-./')*% .*0
0'(($-$*/'./')*8% "#$% '*4-$.3$% )(% '*/-.4$&1
&6&.-% A.Qn% &$?$&3% .4/'?./$3% 4.&2)06&'*9% .
2.>)-% A.Qn1F'*0'*+% ,-)/$'*% /#./% ,&.<3% .
:$<%-)&$%'*%/#$%4)*/-)&%)(%+$*$%/-.*34-',1
/')*% F<% A.Qn8% "#'3% -$36&/3% '*% /#$% .4/'?.1
/')*% )(% /#$% 4</)3)&'4% 4.&2)06&'*10$,$*1
0$*/% ,#)3,#./.3$% 4.&4'*$6-'*% .*0% /#$
(.2'&<% )(% A.Qnd4.&2)06&'*10$,$*0$*/
,-)/$'*% :'*.3$38% c)/#% /<,$3% )(% $*=<2$3
4)*/-'F6/$% /)% /#$% -$+6&./')*% )(% 4$&&% 0'?'1 78.9:$-;@<= 29H8=R8=54A4<O' H5H>78J' OA5@
3')*% .*0% 0'(($-$*/'./')*8% A.&4'*$6-'*% 0$1 78JO<6?'<64A'H75\>8J'<6'J8CA==N8<O'5=85J'AK'4N8'>H@ 78.9:$-;@<; *5O8=548I' H75\>8J' AK' OA6h>@
,#)3,#)-<&./$3% /#$% 4</),&.32'4% PMH" H8='ON8J4'<6'5'H54<864'P<4N'!5=<8=@FN<48'I<J85J8; 864'56I'R8=54A4<O'H5H>78J'<6'4N8'5S<7758;
@*64&$.-% (.4/)-% )(% .4/'?./$0% "% 4$&&3C% ,-)1
/$'*39% 7#'4#% .&&)73% /#$'-% /-.*3&)4./')*
'*/)% /#$% *64&$63% .*0% /#$% '*064/')*% )( /)-3% '*% 6*2.3:'*+% /#$% F.3'4% 0$($4/% '* 17<6<O57'(<6I<6?J'
/#$'-%0)7*3/-$.2%/.-+$/%+$*$38%L/%'3%)(%'*1 __8% L*% /#$% .F3$*4$% )(% 3/-$339% [BaAHQ
/$-$3/%/)%*)/$%/#./%4<4&)3,)-'*%H9%/.4-)&'1 0$;4'$*4<% 4.*% F$% 4)2,$*3./$0% F<% '*1 O*3$/%)(%/#$%0'3$.3$%'3%636.&&<%.-)6*0%,61
2639% .*0% ,'2$4-)&'263% .-$% 4.&4'*$6-'* 4-$.3$0%$I,-$33')*%)(%/#$%*)-2.&%.&&$&$ F$-/<8% "#$% 2.>)-'/<% )(% ,./'$*/3% 0$?$&),
'*#'F'/)-3%@3$$%A#.,8%QQGC8%H4/'?./')*%)( .*0d)-% )/#$-% -$+6&./)-<% 3<3/$238% "-'+1 /#$%;-3/%&$3')*3%F$/7$$*%GU%.*0%QU%<$.-3
/#$% A.Qnd4.&2)06&'*10$,$*0$*/% ,-)/$'* +$-'*+%(.4/)-3%7)6&0%0'3-6,/%/#'3%36F/&$ )(% .+$8% "<,'4.&% &$3')*3% .-$% +-$.3<% :$-.1
:'*.3$%4.34.0$%'*?)&?$3%/#-$$%0'3/'*4/%:'1 F.&.*4$%F<%0)7*-$+6&./'*+%H"EQHQ%)- /)/'4%,.,6&$39%3:'*14)&)-$09%<$&&)71F-)7*
*.3$3%/#./%-$+6&./$%/-.*34-',/')*%/#-)6+# '*4-$.3'*+%/#$%-$56'-$2$*/%()-%[BaAHQ )-%F-)7*9%7#'4#%2.<%F$%'3)&./$0%)-%2.<
,#)3,#)-<&./')*% )(% *64&$.-% (.4/)-3% .*0 /)% 2.'*/.'*% .% 6*'56$% A.Qn% 4)*/$*/% '* ()-2%-$&./'?$&<%&.-+$9%4-63/$09%.*0%4)*\61
#'3/)*$%.4$/<&./')*9%7#'4#%&$.03%/)%/-.*31 /#$% &62$*8% c$4.63$% )*&<% )*$% 4),<% )( $*/%,&.56$38%"#$%3'/$3%)(%,-$0'&$4/')*%.-$
4-',/')*.&% .4/'?./')*% )-% '*#'F'/')*8% c< H"EQHQ% '3% (6*4/')*.&9% -$064/')*% )( /#$% 3$F)--#$'4%.-$.3%)(%/#$% /-6*:%@M'+38
:$$,'*+%.,,-),-'./$%A.Qn%4)*4$*/-./')*3 [BaAHQ% &$?$&3% 7)6&0% F$% $I4$33'?$9% )- NT1Q9 NT1VC%.*0%(.4$h%/#$%6,,$-%4#$3/9%/#$
'*% /#$% Ba% &62$*9% [BaAHQ% .&3)% ,&.<3% .* 4)2,$*3./')*% 7)6&0% *)/% -$.4#% .0$1 F.4:9%/#$%3'0$3%)(%/#$%*$4:9%/#$%()-$#$.09
$33$*/'.&% -)&$% '*%,-)/$'*% 3<*/#$3'39% 4#.,1 56./$% &$?$&38% A)*3'3/$*/% 7'/#% /#'3% ,)31 /#$%$.-39%.*0%/#$%34.&,8%"#$%+-)'*9%.I'&&.$
$-)*$10$,$*0$*/% ,-)4$33'*+9% .*0% ,)3/1 3'F'&'/<9% Rlc% '--.0'./')*% .*0% ,-)1 @M'+8%NT1NC9%.*0%.*)+$*'/.&%-$+')*%.-$%.&3)
/-.*3&./')*.&% 2)0';4./')*% )(% 2$2F-.*$ '*\.22./)-<% 4</):'*$3% #.?$% F$$* (-$56$*/&<%'*?)&?$08%"#$%3:'*%&$3')*3%4.*
.*0% 3$4-$/$0% ,-)/$'*39% 7#'4#% -$56'-$% . 3#)7*% /)% 0)7*-$+6&./$% H"EQHQ% .3 F$4)2$%?$+$/./'*+%'*%/#$%()&03%.*0%.-$%)(1
6*'56$%4.&4'621-'4#%$*?'-)*2$*/8VN%A.Qn 7$&&% .3% H"EQAG% 2aPH% $I,-$33')*8NV /$*%'*($4/$09%2.&)0)-)639%.*0%-$3,)*3'F&$
'3% -$56'-$0% ()-% /#$% .33$2F&<% )(% 0$32)1 a$064$0% &$?$&3% )(% [BaAHQ% 7)6&0% -$1 ()-%2.>)-%0'34)2()-/8%"#$<%4.*%F$%&'2'/$0
3)2$3%.*0%.0#$-$*3%>6*4/')*3%.3%7$&&%.3 36&/% '*% '*.,,-),-'./$% A.Qn% 4)*4$*/-.1 )-% ()-2% $I/$*3'?$% ,&.56$3% 06-'*+% .46/$
.4/'*%,)&<2$-'=./')*8VW /')*3%'*%/#$%&62$*9%4.63'*+%0<3(6*4/')* ,#.3$38%A.-$(6&%$I.2'*./')*%)(%/#$%,.&23
H%4#.*+$%'*%/#$%A.Qn%Ba%&62'*.&%4)*1 )(%4.&4'6210$,$*0$*/%4#.,$-)*$%2)&$1 .*0%3)&$3%7'&&%(-$56$*/&<%-$?$.&%32.&&%,'/3
/$*/% '3% &':$&<% /)% #.?$% .% 2.>)-% $(($4/% )* 46&$3% /#./% &$.03% /)% '2,.'-% ()&0'*+9% .31 )-% ,6*4/6./$0% :$-./)3$39% 7#'4#% .-$
A.Qn%3'+*.&'*+9%,-)/$'*%,)3/1/-.*3&./')*.& 3$2F&<9% .*0d)-% /-.(;4:'*+% )(% ,-)/$'*38 #'+#&<% 36++$3/'?$% )(% __% @M'+8% NT1WC8
2)0';4./')*39% .*0% /-.(;4:'*+8% H&/#)6+# Y#$/#$-%/#'3%,-$($-$*/'.&&<%.(($4/3%,-)1 f.*03% .*0% ($$/% 4.*% .&3)% 3#)7% 0'34-$/$
*)% +&<4)3<&./')*% 0$($4/% )(% /#$% 0$32)1 /$'*3% ,&.<'*+% .% :$<% -)&$% '*% 4$&&1/)14$&& \./9%3:'*14)&)-$0%,.,6&$3%)*%/#$%0)-3.&%.-1
3)2.&% ,-)/$'*3% 7.3% 0$/$4/$0% '*% __ .0#$3')*% .*0d)-% 0'(($-$*/'./')*% )-% .(1 $.39%3'2'&.-%/)%Hel%)(%f),(8N
:$-./'*)4</$39% '*% 46&/6-$% /-.(;4:'*+% )( ($4/3% ,-)/$'*% ,-)4$33'*+% '*% +$*$-.&% -$1 P.'&%.F*)-2.&'/'$3%.-$%.*%.&2)3/%4)*1
0$32),&.:'*%/)%/#$%2$2F-.*$%'3%3'+*';1 2.'*3%/)%F$%0$/$-2'*$08 3/.*/% ($./6-$% .*0% .-$% #'+#&<% 3,$4';4% ()-
4.*/&<% #'*0$-$08NQ% _$($4/'?$% $I,-$33')*
)(%/#'3%:$<%2)&$46&$%/#./%&'*:3%/#$%4</)1
3:$&$/)*% /)% /#$% 0$32)3)2.&% 4)2,&$I$3
4)6&0% 4)*/-'F6/$% /)% '2,.'-$0% 4$&&1/)14$&&
.0#$3')*%'*%/#$%$,'0$-2'3%'*%__8%M'*.&&<9
A.Qn% ,&.<3% .% :$<% -)&$% '*% /#$% /-.*34-',1
/')*.&%-$+6&./')*%)(%.%7'0$%-.*+$%)(%+$*$3
/#./% .-$% $33$*/'.&% ()-% $,'0$-2.&% 4$&&1/)1
4$&&% .0#$3')*% .*0% /$-2'*.&% 0'(($-$*/'.1
/')*9%7#'4#%36++$3/3%/#./%.F*)-2.&%A.Qn
3'+*.&'*+% 4)6&0% #.?$% .% ,-)()6*0% '2,.4/
)*%/#$%/-.*34-',/')*%)(%/#$3$%+$*$38
"#$%)F3$-?./')*%/#./%$I,)36-$%/)%6&1 78.9:$-;@<! "6h5BB54A=9'H75\>8J
/-.?')&$/%c%@RlcC%'--.0'./')*9%#$./9%.*0 <6' 4N8' J>CB5BB5=9' =8?<A6Q' P<4N' TJ@
'*($4/')*% /-'++$-3% 0'3$.3$% 2.*'($3/.1 J>=8J' 56I' B5O8=54<A6;' -A48' 4N54' 4N8
/')*3%'*0'4./$3%/#$%-)&$%)(%$I/$-*.&%(.41 T6?8=65<7J'5=8'I9J4=AHN<O;
;!;
/#$<%2.<%F$9%./%&$.3/%'*%,.-/9%3$4)*0.-<%/)
/#$%3)4'.&%#.*0'4.,%4.63$0%F<%/#$%0'3$.3$8
P$6-)1,3<4#'./-'4% .F*)-2.&'/'$3% #.?$
.&3)%F$$*%-$,)-/$0%'*%(.2'&'$3%7'/#%__8N`
"#$3$%'*4&60$%3$'=6-$39%2'&0%2$*/.&%-$/.-1
0./')*9% F',)&.-% 0'3$.3$9% .*0% 34#'=),#-$1
*'.8%M.2'&'.&%4)13$+-$+./')*%)(%__%.*0%F'1
,)&.-% 0'3)-0$-% #.3% F$$*% -$,)-/$0% '*
3$?$-.&%(.2'&'$3%.*0%3/-)*+&<%36,,)-/3%/#$
$I'3/$*4$%)(%.%F',)&.-%0'3)-0$-%3634$,/'F'&1
'/<% +$*$% '*% /#$% __% -$+')*8N!% f)7$?$-9
H"EQHQ%#.3%F$$*%$I4&60$0%.3%.%4)22)*
3634$,/'F'&'/<% +$*$% ()-% F',)&.-% 0'3$.3$8NX
"#$3$% )F3$-?./')*39% /)+$/#$-% 7'/#% /#$
;*0'*+% )(% [BaAHQF% $I,-$33')*% '*% /#$
F-.'*NT% .*0% /#$% '2,)-/.*4$% )(% 4.&4'62
3'+*.&'*+%'*%*$6-)*39%-.'3$%/#$%56$3/')*%)(
7#$/#$-%3:'*% .*0%*$6-)1,3<4#'./-'4%4)*1
0'/')*3% .-$% )446--'*+% '*0$,$*0$*/&<% )-
-$,-$3$*/%$I,-$33')*%)(%/#$%3.2$%+$*$/'4
0$($4/%.(($4/'*+%F)/#%3:'*%.*0%F-.'*8G!
78.9:$-;@<# )7568'R8=54A4<O'H5H>78J'AK'4N8'H57BJ;
/#$% 0'3$.3$8% "#$% *.'&3% .-$% (-.+'&$% .*0 .4.*/#)&<3'3% &$.0'*+% /)% 36,-.F.3.&% 4&$(/3 17<6<O57'(A=BJ
3,&'/% $.3'&<8% "#$<% 3#)7% .% 4)2F'*./')* @M'+8% NT1!C8% "#$% -)6*0$0% $)3'*),#'&'4 [)2$% ,./'$*/3% 0$?$&),% $-)3'?$% )-% F6&1
)(% -$0% .*0% 7#'/$% &)*+'/60'*.&% 3/-',$39 0<3:$-./)/'4%4$&&3%.-$%4.&&$0%#7',)1'7!6)%'* &)63% ()-23Z% )/#$-3% #.?$% 2.&)0)-)639
#.?$%.%!13#.,$0%*'4:%./%/#$%(-$$%2.-+'* /#$% 3/-./62% 3,'*)3629% .*0% 0'("!)% '*% /#$ ?$+$/./'*+% &$3')*3% '*% /#$% \$I6-$38% E-61
)(%/#$%*.'&9%.*0%3#)7%36F6*+6.&%#<,$-1 6,,$-% &.<$-3% )(% /#$% $,'0$-2'38% "#$<% .-$ -'/'4% .*0% ,.,6&)?$3'46&.-% &$3')*3% 4.*% F$
:$-./)3'3%@M'+8%NT1`C8 /#)6+#/% /)% 4)--$3,)*0% /)% .,),/)/'4% :$1 3$$*% '*% 3)2$% __% ,./'$*/39% 3'2'&.-% /)
"#$% 264)63% 2$2F-.*$3% .&3)% 4.*% F$ -./'*)4</$38% B&$4/-)*% 2'4-)34),<% #.3% -$1 /#)3$%'*%g_%@3$$%g-)?$-%_'3$.3$C8%a.-$
.(($4/$08% "#$% #.-0% ,.&./$9% )-.&% 264)3.9 ?$.&$0%3$,.-./')*%)(%/#$%:$-./'*%;&.2$*/3 4&'*'4.&%?.-'.*/3%'*4&60$%4)-*'(<'*+%()-23
+'*+'?.$9% $3),#.+639% ?6&?.9% .*0% -$4/62 (-)2%/#$%0$32)3)2$3%7'/#%4&62,'*+%)( )*% /#$% &$+39WU% 4)2$0)*$1&':$% &$3')*39WG
2.<% F$% 3'/$3% )(% 7#'/'3#% 32.&&% ,.,6&$39 ,$-'*64&$.-%/)*);&.2$*/38NW .*0%#$2)--#.+'4%2.46&$3%)*%,.&23%.*0
)(/$*% 0$*3$&<% +-)6,$0% @&$6:),&.:'.C8NN 3)&$38WQ% L*% ,'+2$*/$0% 3:'*9% __% 2.<
c&)4:.+$%)(%/#$%3.&'?.-<%+&.*03%#.3%F$$* ,-$3$*/%.3%#<,),'+2$*/$0%2.46&$3%.*0
-$,)-/$08%L*/-.(.2'&'.&%0'(($-$*4$3%'*%0'31 +JJAO<548I'*56<K8J454<A6J
,.,6&$38WV
$.3$% 3$?$-'/<% #.?$% F$$*% 0$34-'F$0% '* c$#.?')-% .*0% &$.-*'*+% 0'(;46&/'$3% #.?$ "7)% ,.-/'46&.-% ()-23% )(% /#$% 0'3$.3$
3$?$-.&%3/60'$39%7#'4#%'*0'4./$3%/#./%.01 F$$*% )F3$-?$0% '*% ,./'$*/3% 7'/#% __9% F6/ 3#)6&0% F$% 0'3/'*+6'3#$08% L*% /#$% ;-3/9
0'/')*.&% +$*$/'4% .*0d)-% $*?'-)*2$*/.&
(.4/)-3%'*\6$*4$%0'3$.3$%$I,-$33')*8GX
2<J4AH54NA7A?9
f'3/)&)+'4% $I.2'*./')*% 3#)73% #<,$-1
:$-./)3'39% ()4.&% 0<3:$-./)3'3% @,-$2./6-$
.*0%.F*)-2.&%:$-./'*'=./')*%)(%3'*+&$%:$1
-./'*)4</$3C% .33)4'./$0% 7'/#% 36,-.F.3.&
78.9:$-;@<6 !9J4=AHN<O' T6?8=65<7J' JNAP<6? 78.9:$-;@<" 2<J4A7A?<O' H=8H5=54<A6' AK' 5KK8O48I' JR<6' <6' !5=<8=@FN<48' I<J85J8' JNAP<6?' J>H=5C5J57
K=5?<7<49Q' JH7<44<6?Q' 56I' =8I' 56I' PN<48' 7A6?<4>I<657 O78K4' AK' 4N8' 8H<I8=B<J' OA645<6<6?' 5O564NA794<O' O877JQ' 5JJAO<548I' P<4N' =A>6I8I' I9JR8=54A4<O' O877J' P<4N' 5
J4=<H8J; I5=R'6>O78>J'WfOA=HJ'=A6IJg'A='f?=5<6JgX'56I'N9H8=R8=54AJ<J; ;!#
1A>=J8 M)-% /#)3$% 7'/#% 2)-$% 3$?$-$% 0'3$.3$9
)-.&% -$/'*)'03% 364#% .3% .4'/-$/'*% .-$% /#$
"#$%3:'*%&$3')*3%+$*$-.&&<%.,,$.-%F$/7$$* 2)3/%$(($4/'?$%/-$./2$*/8%"#$'-%$(;4.4<
$.-&<% 4#'&0#))0% .*0% /#$% .+$% )(% QU% <$.-38 &.3/3% )*&<% .3% &)*+% .3% /#$% /-$./2$*/% '3
"#$% 4)*0'/')*% -6*3% .% 4#-)*'4% -$&.,3'*+ 4)*/'*6$08% "#$% '*'/'.&% 0)3$% '3% 636.&&<
4)6-3$9% 7'/#% $I.4$-F./')*3% /#-)6+#)6/ QW%/)% VU%2+%,$-%0.<% ()-% Q%/)% N% 7$$:39
&'($8% [)2$% ,./'$*/3% 7'&&% #.?$% -$&./'?$&< .*0% '(% /#$% 0-6+% '3% 7$&&% /)&$-./$09% /#$
2'&0% 0'3$.3$9% 7#$-$.3% )/#$-39% 3)2$/'2$3 0)3$%4.*%F$%'*4-$.3$0%6,%/)%`U%2+%()-%Q
7'/#'*% /#$% 3.2$% (.2'&<9% 7'&&% 0$?$&),% . 2)*/#38% "#$% ,./'$*/% 263/% F$% 2)*'1
2)-$% 3$?$-$% ()-28% L*% ,.-/'46&.-9% /#$% 3:'* /)-$0% 4.-$(6&&<% ()-% ,)33'F&$% 3'0$% $(($4/3
&$3')*3% .-$% $I.4$-F./$0% F<% $I,)36-$% /) @3$$%A#.,8%QQTC8%H(/$-%'*'/'.&%4&$.-'*+%)(
36*&'+#/% )-% .-/';4'.&% Rlc% -.0'./')*9% #$./9 /#$% &$3')*39% /#$% 0)3.+$% 3#)6&0% F$% -$1
37$./'*+9%(-'4/')*9%.*0%'*($4/')*38%E./'$*/3 064$0% ,-)+-$33'?$&<% .*0% 3/),,$0% @'*
7'/#%__%.,,$.-%/)%#.?$%.*%'*4-$.3$0%3631 7'*/$-C%)-%2.'*/.'*$0%./%.3%&)7%.%&$?$&
4$,/'F'&'/<% /)% #$-,$3% 3'2,&$I% .*0% 4#-)*'4 .3% ,)33'F&$% /)% .?)'0% -$&.,3$8N% "),'4.&
78.9:$-;@<? +O564NA794<O' 8H<I8=B57' 68L< ,<)+$*'4% '*($4/')*38% a.-$% 4.3$3% )(% -$46-1 /.4-)&'263% #.3% F$$*% 63$0% 3644$33(6&&<
WJ8?B86457' !5=<8=@FN<48' I<J85J8X;' ,<B<48I' 56I -$*/% 4)-*$.&% 6&4$-./')*3% 7'/#% ,$-()-./')* /)%/-$./%$I/$*3'?$%__8`G
>6<7548=57'I<J4=<C>4<A6'AK'R8=54A4<O'56I'<6h5BB5@ #.?$%F$$*%-$,)-/$08`U "#$% 0'3$.3$% 4.*%4.63$% .% 4)*3'0$-.F&$
4A=9' H5H>78J' KA77AP<6?' e75JONRAmJ' 7<68J' A6' 4N8 3)4'.&%#.*0'4.,%.*0%4.*%-$56'-$%3,$4';4
C=85J4'56I'5S<775=9'=8?<A6;' ,3<4#)&)+'4.&%36,,)-/%F<%.%2$0'4.&%,3<1
.=854B864 4#)&)+'3/8%g$*$/'4%4)6*3$&'*+%3#)6&0%F$
E./'$*/3% 7'/#% 2'&0% 0'3$.3$% 7'&&% F$*$;/ )(($-$09% .&/#)6+#% ,-$*./.&% 0'.+*)3'3% )(
.4.*/#)&</'4%0<3:$-./)/'4%$,'0$-2.&%*$?'9
(-)2% .0?'4$% .F)6/% 36*% ,-)/$4/')*% @36* /#$% 0'3$.3$% 3#)6&0% F$% -$3/-'4/$0% /)% $I1
/#$% &)4.&'=$0% .*0% 6*'&./$-.&% :$-./)/'4
.?)'0.*4$%.*0%63$%)(%36*34-$$*3%'*%/#$ /-$2$&<%0'3.F&'*+%()-238
,.,6&$3% )(% __% ()&&)7% c&.34#:)K3
3622$-C% .*0% .?)'0.*4$% )(% #$./8% Y#$*
&'*$3WN9WW% @M'+8% NT1XC8% S)&$46&.-% .*.&<3'3
3:'*%&$3')*3%.-$%&'2'/$09%$2)&&'$*/3%4)*1
'*% /#$3$% ,./'$*/3% #.3% 3#)7*% /#./% /#$<
-$,-$3$*/%2)3.'4%()-23%)(%__9%4.--<'*+
/.'*'*+% 6-$.% )-% &.4/'4% .4'0% 4.*% -$064$ +1%$/&%+.$#"#'E&%%M1"($%*"#
4-63/'*+8% "),'4.&% .,,&'4./')*3% )(% /-$/'1
.% ,)3/=<+)/'4% H"EQHQ% 26/./')*% '*% .(1 G8684<OJ
*)'*%)-%'3)/-$/'*)'*%'2,-)?$%/#$%#<,$-1
($4/$0%.-$.3%)*&<8Q`9W`%"#$-$%#.3%F$$*%*)
:$-./)3'3% )(% &)4.&'=$0% &$3')*39% .&/#)6+#
-$,)-/% )(% ,./'$*/3% 7'/#% 3$+2$*/.&% __ Hel% '3% '*#$-'/$0% '*% .*% .6/)3)2.&
'--'/./')*%&'2'/3%/#$'-%?.&6$8%"),'4.&%3/$-1
#.?'*+%.%4#'&0%7'/#%+$*$-.&'=$0%__9%.*0 0)2'*.*/% (.3#')*9% F6/% 3,)-.0'4% 4.3$3
)'03%2.<%#$&,%'*%-$064'*+%'--'/./')*%F6/
/#$%-'3:%)(%/-.*32'33')*%)(%.%+$*$-.&'=$0 #.?$ F$$*% -$,)-/$08% H% #$/$-)=<+)63
.-$% *)/% $(($4/'?$% .&)*$8% P$7% -$/'*)'03
()-2%-$2.'*3%6*:*)7*8 E-)`UQD$6% 2'33$*3$% 26/./')*% '*% /#$
364#%.3%/.=.-)/$*$%.-$%3)2$7#./%$(($41
H4-.&% ()-23% .-$% 0'(;46&/% /)% 0'3/'*1 H"EQHQ% +$*$% '*% .% &.-+$% c-'/'3#% (.2'&<
/'?$% .*0% .-$% /)&$-./$0% F$//$-% /#.*% ;-3/1
+6'3#%(-)2%Hel%)(%f),(9%7#'4#%4)6&0 .(($4/$0%7'/#%Hel%#.3%F$$*%'0$*/';$08GN
+$*$-./')*% -$/'*)'038% H*/'3$,/'43% @/),'4.&
F$%4)*3'0$-$0%.%4&'*'4.&%?.-'.*/%)(%__9 "#'3% 26/./')*% '3% &)4./$0% '*% /#$% H"E1
)-%'*%/#$%F./#C9%.*/'F')/'439%.*0%.*/'(6*1
F$4.63$% F)/#% 0'3$.3$3% .-$% 06$% /) F'*0'*+%0)2.'*%)(%[BaAHQ%.*0%#.3%*)/
+.&% 2$0'4./')*3% .-$% #$&,(6&% /)% ,-$?$*/
H"EQHQ% 26/./')*3% @3$$% H4-):$-./)3'3 F$$*% -$,)-/$0% '*% ,./'$*/3% 7'/#% 4&.33'4
)-% /-$./% ,<)+$*'4% .*0% (6*+.&% '*($4/')*8
l$--64'()-2'3C8GN9W! __8% M6*4/')*.&% .*.&<3'3% 3#)7$0% /#./% '/
f$-,$3% '*($4/')*% 3#)6&0% F$% 363,$4/$0
.F)&'3#$3% A.Qn% /-.*3,)-/8% "#$3$% -$36&/3
7#$*% &$3')*3% .-$% ,.'*(6&% .*0% $I.4$-1
$3/.F&'3#$0% /#./% Hel% .*0% __% 4.*% F$
!<KK8=864<57'!<5?6AJ<J F./$0% .*0% -$56'-$3% .*/'?'-.&% /-$./2$*/
06$%/)%26/./')*3%'*%/#$%3.2$%+$*$%@'8$89
7'/#%.4<4&)?'-8
"#$%4&.33'4%()-2%)(%__%'3%#'+#&<%36++$31 .-$% .&&$&'4% 0'3)-0$-3C8% f)7$?$-9% )*$
/'?$%)(% /#$% 4)*0'/')*8%f)7$?$-9%__% 4.* 3/60<%'*%.%&.-+$%A#'*$3$%(.2'&<%0'0%*)/
#./&'2() ;*0% $?'0$*4$% ()-% /#$% '*?)&?$2$*/% )(
F$%2'30'.+*)3$0%.3%3$F)--#$'4%0$-2./'/'3
)-%.4*$%'*%/#$%'*'/'.&%3/.+$38%"#$%0'.+*)1 0+EE()(%*+$H&0+$Q%2,+,&2E&0$)+()&0+,($,( H"EQHQ9%7#'4#%-.'3$3%/#$%,)33'F'&'/<%)(
3'3%)(%4&'*'4.&%?.-'.*/3%4.*%3)2$/'2$3%F$ +$*$/'4%#$/$-)+$*$'/<%'*%Hel8`Q
175JJ<O'KA=B
4#.&&$*+'*+% @c)I% NT1GC8% H4-.&% ()-23% -$1 q'#8CA==N8<O'I8=B54<4<J
3$2F&$% ,&.*$% 7.-/38% B-)3'?$% )-% F6&&)63 q'#8CA==N8<O'R8=54AJ8J
()-23%,-$0)2'*./'*+%'*%/#$%()&03%2.<%F$
17<6<O57'*56<K8J454<A6J
q >7/;9;7'<6K8O4<A6'WJ>CB5BB5=9X
0'(;46&/% /)% 0'3/'*+6'3#% (-)2% ff_WX% @3$$ )5H>75='L8J<O>75='KA=B "#$% )*3$/%)(% Hel% '3%$.-&<%'*%&'($9%)(/$*
f.'&$<1f.'&$<% _'3$.3$C% .*0% ,$2,#'+63 q'G=AL8='I<J85J8 ./%F'-/#%)-%&./$-%'*%'*(.*4<8%"#$%0'3$.3$%'3
?6&+.-'3% @3$$% A#.,8% WQC8% f)7$?$-9% ff_ &=AJ<L8Q'C>77A>J'KA=B 4#.-.4/$-'=$0% F<% 26&/',&$% 32.&&9% \./9
636.&&<%,-$3$*/3%&./$-%'*%/#$%/#'-0%0$4.0$ q'25<789@25<789'I<J85J8 \$3#14)&)-$09% 7.-/<% ,.,6&$3% /<,'4.&&<
.*0%3#)73%,.'*(6&%\$I6-.&%$-)3')*3%7'/# q')8BHN<?>J'L>7?5=<J &)4./$0%)*%/#$%0)-362%)(%/#$%#.*03%.*0
-#.+.0$3%.*0%*)%:$-./)/'4%,.,6&$38%l$+$1 q',56?8=N56J'O877'N<J4<AO94AJ<J ($$/`V% @M'+8% NT1TC8% g-)6,$0% )-% '3)&./$0
/./'*+% ()-23% *$$0% /)% F$% 0'3/'*+6'3#$0 q >7/;9;7'<6K8O4<A6 ,.,6&$3% 4.*% .&3)% 0$?$&),% )*% /#$% :*$$39
(-)2%,$2,#'+63%?$+$/.*3%@3$$%A#.,8%WQC8 q'"BH84<?A $&F)739% $I/$*3)-% .3,$4/3% )(% &)7$-% &$+39
E-6-'/'4% .*0% ,.,6&)?$3'46&.-% ()-23% -$1 E8?8454<6?'KA=B ()-$.-239%.*0%7-'3/38%E6*4/./$%:$-./)3$3
3$2F&$%g_8%f)7$?$-9%g_%)446-3%'*%,.1 q')8BHN<?>J'L8?8456J .*0% ,'/3% )*% /#$% ,.&23% .*0% 3)&$3% 4.*% F$
/'$*/3%7'/#%&)*+1/$-2%36*%0.2.+$%.*0%'3 +O=57'KA=B ,-$3$*/% .*0% 4.*% '*/$--6,/% /#$% 0$-2.&
636.&&<%/-.*3'$*/9%.&/#)6+#%4#-)*'4%()-23 -'0+$3%'*%/#$%;*+$-%,.03%.*0%,.&238%E.&1
q'E8==>O58'H75658
#.?$%F$$*%0$34-'F$08WT 2.-%3:'*%2.<%F$%/#'4:$*$08%l.-<'*+%0$1
;!6
4)*3/.*/C%@M'+8%NT1GUC8%"#$-$%.-$%*)%($.1
+1%$/&%+.$#"# /6-$3% )(% 0<3:$-./)3'3% )-% .4.*/#)&<3'39 G%$E&%'!"#&+#&'
7#'4#%.-$%4&.33'4%($./6-$3%)(%__%&$3')*38%
E&%%M1"($%*"#' W.%+-#"&-.'
17<6<O57'(A=BJ
W$*"*'sZ[Za[[X H%-.-$%&'*$.-%?.-'.*/%7'/#%,$-3'3/$*/%&)4.&1
+1+-.2$,l."1
+.'+'G,+-1&' '=$0%6*'&./$-.&%&$3')*3%#.3%F$$*%-$,)-/$0
'*%/7)%6*-$&./$0%[.60'%,./'$*/38`N
!&%*+.$#"#X
!<KK8=864<57'!<5?6AJ<J +.'+'G,+-1&'
Hel% 3#)6&0% F$% 0'3/'*+6'3#$0% (-)2
,&.*$%7.-/3%.*0%$,'0$-2)0<3,&.3'.%?$-1
-64'()-2'3% @3$$% A#.,8% GT`C% F<% #'3/)1
,./#)&)+'4%($./6-$38
%5=8Q'N8=<45C78'I<JA=I8='AK'R8=54<6<V54<A6Q'
A=<?<65779'I8JO=<C8I'C9'2AHK'<6'ZabZ;
MJ>5779'H=8J864J'P<4N'B>74<H78'JB577'h54@
1A>=J8 (<=J4'I8JO=<C8I'<6'Zac[;
4AHH8I'H5H>78J'H=8IAB<656479'A6'4N8' D$3')*3%/$*0%/)%,$-3'3/%/#-)6+#)6/%&'($9%'*1 )=>=<4<OQ'HA79BA=HN<OQ'O>4568A>J'H5H>@
IA=J>B'AK'4N8'N56IJ'56I'K884; 4-$.3$% 3&)7&<% '*% *62F$-9% .*0% F$4)2$ 7AL8J<O>75='8=>H4<A6'A6'4N8'4=>6R;
2<J4AH54NA7A?<O'56579J<J'JNAPJ'N9H8=@ 2)-$%,-)2'*$*/%.(/$-%36*%$I,)36-$8%"-.*31 $OO>=J'<6'5I>74J'5K48='7A6?@48=B'J>6'
R8=54AJ<JQ'N9H8=?=56>7AJ<JQ'56I'5O564NA@ ()-2./')*%/)%356.2)63%4$&&%4.-4'*)2.%#.3 I5B5?8;
J<J'P<4N'fON>=ON'JH<R8JQg'O<=O>BJO=<C8I' F$$*%-$,)-/$0%'*%/7)%4.3$38`Q9`W9``
2<J4A7A?<O'8S5B<654<A6'JNAPJ'L5=<5C78'
878L54<A6J'AK'4N8'8H<I8=B<JQ'P<4NA>4'5O56@
KAO57'5O564NA794<O'I9JR8=54AJ<J;
4NA79J<J'A='I9JR8=54AJ<J; .=854B864 175JJ<O'W4=56J<864X'KA=B'=8JA7L8J'P<4N<6'5'
+7787<O'P<4N'!5=<8=@FN<48'I<J85J8D'eA4N'
[6,$-;4'.&%.F&./')*%'3%/#$%2)3/%$(($4/'?$ K8P'BA64NJQ'C>4'5'H8=J<J4864'KA=B'N5J'
5=8'I>8'4A'I8K8O4J'<6'+.)_+_;
/-$./2$*/8%H,,&'4./')*3%)(%-$/'*)'4%.4'09 C886'=8OA?6<V8I;
4-<)/#$-.,<9% .*0% 4.-F)*% 0')I'0$% &.3$- .N8=8'<J'6A'8L<I86O8'KA='?8684<O'H=8I<J@
+-$$3%)(%*.'&%'*?)&?$2$*/%#.?$%F$$*%-$1 .F&./')*%#.?$%F$$*%$(($4/'?$8 HAJ<4<A6;
,)-/$09%'*4&60'*+%&)*+'/60'*.&%3/-'./')*39
3,&'//'*+9% .*0% 36F6*+6.&% #<,$-:$-./)3'3
7'/# !13#.,$0% *'4:3% ./% /#$'-% (-$$% 2.-1 G%$E&%'!"#&+#& "#$% 4.63$% )(% /#$% 0'3$.3$% '3% 6*:*)7*8
+'*38% "#$% -$3/% )(% /#$% 3:'*% '3% 4&$.-9% 7'/# &4<A7A?9'56I')54NA?868J<J "#$% 2.>)-'/<% )(% ,./'$*/3% .-$% 7#'/$
*)%'*?)&?$2$*/%)(%3$F)--#$'4%.-$.38% 2.&$3% )&0$-% /#.*% NU% <$.-39% 7'/#% 3)&.-
g_% '3% *)/% .% -.-$% 0'3$.3$% .*0% 3#)73% *) 0.2.+$8% B&$4/-)*% 2'4-)34),<% 3#)73
$?'0$*4$% ()-% +$*$/'4% ,-$0'3,)3'/')*8`! 4&62,'*+% )(% :$-./'*% ;&.2$*/3% .*0% &)33
2<J4AH54NA7A?9
"#$% 4&.33'4% #'3/),./#)&)+'4% ;*0'*+3% )(
Hel%'*4&60$%#<,$-:$-./)3'39%#<,$-+-.*1
6&)3'39%.*0%.4.*/#)3'3%7'/#%,.,'&&)2./)1
3'38% D)4.&'=$0% $&$?./')*3% )(% /#$% $,'0$-1
2'3% -$3$2F&'*+% ]4#6-4#% 3,':$3^% .-$
(-$56$*/% .*0% /<,'4.&% )(% Hel% @F6/% *)/
78.9:$-;@<@ #B577Q'h8JN@OA7A=8I'H5H>78J'AL8= 78.9:$-;@<>I 2<J4AH54NA7A?<O' K854>=8J' AK' 2AHK' I<J85J8' JNAP<6?' 5O564NAJ<J' 56I' N9H8=R8=54AJ<J
4N8'IA=J>B'AK'4N8'N56I'<6'5'H54<864'P<4N'5O=AR8=54A@ P<4N'fON>=ON'JH<R8g'878L54<A6J'AK'4N8'8H<I8=B<JQ'C>4'6A'5O564NA79J<J'A='I9JR8=54AJ<J;'WMJ8I'P<4N'H8=B<J@
J<J'L8==>O<KA=B<J'AK'2AHK; J<A6'K=AB'!=;',5>=86O8',5B564Q'!8H5=4B864'AK')54NA7A?9Q')>=H56'2AJH<457Q'.A>7A>J8Q'(=56O8;X ;!"
)(%0$32)3)2$38%L226*)#'3/)&)+'4%3/.'*1 #./&'2(*
'*+% -$?$.&3% '*/$-*.&'=./')*% .*0% -$0'3/-'1
0+EE()(%*+$H&0+$Q%2,+,&2E&J)2G()&0+,($,(
F6/')*% )(% 0$32)3)2.&% .//.4#2$*/
,&.56$38`X% c$4.63$% g_% 3#.-$3% 3$?$-.& ,"-#'.)/
4&'*'4.&9% #'3/)&)+'49% .*0% 6&/-.3/-64/6-.& )=>=<?A'J<BH78S
($./6-$3%7'/#%__9%26/./')*3%'*%H"EQHQ9 (A77<O>7<4<J
/#$% 0$($4/'?$% +$*$% '*% __9% #.?$% F$$* )5H>75='8OV8B5
3)6+#/%'*%,./'$*/3%7'/#%,$-3'3/$*/%g_8WT #O5C<8J
P)% H"EQHQ% 26/./')*% 7.3% '0$*/';$0% '* *<7<5=<5'=>C=5
/#$%3:'*%@&$3')*.&%.*0%*)-2.&C%)-%'*%&$61
34*)%54$%
:)4</$3%'*%()6-%,./'$*/39%7#'4#%'*0'4./$3
!8=B54<4<J'N8=H84<KA=B<J
/#./% g_% '3% *)/% .&&$&'4% /)% __8% "#639% .&1
!5=<8=@FN<48'I<J85J8
/#)6+#% __%.*0%g_%3#.-$%3/-':'*+% 4&'*'1
25<789@25<789'I<J85J8
4.&% .*0% #'3/),./#)&)+'4% ($./6-$39% /#$
)8BHN<?>J'L>7?5=<J
2$4#.*'32%6*0$-&<'*+%.4.*/#)&</'4%0<31
:$-./)3'3%'*%g_%-$2.'*3%6*:*)7*8
1A>=J8
17<6<O57'(<6I<6?J L*%/#$%/-.*3'$*/%()-29%/#$%4)6-3$%'3%/-.*1
78.9:$-;@<>> G=AL8=' I<J85J8;' )=>=<?<6A>J 3'/)-<9% .*0% 3,)*/.*$)63% #$.&'*+% )(/$*
"#$%0'3$.3$%)*3$/%'3%.-)6*0%NU%<$.-3%)(
H5H>78J' A6' 4N8' 4=>6R' =8J8BC7<6?' KA77<O>7<4<J' <6' 5 )446-3%7'/#'*%.%($7%7$$:3%)-%Q%2)*/#38
.+$8% "#$% /<,'4.&% ,./'$*/% '3% .% 2.&$% 7'/#
`[@985=@A7I'B56; L*% )&0$-% ,./'$*/39% /#$% 0'3$.3$% 2.<% &.3/
(.'-% 3:'*% .*0% .% #'3/)-<% )(% #.F'/6.&% 36*
&)*+$-%@,$-3'3/$*/%g_C%.*0%4.*%4)*/'*6$
$I,)36-$8% g_% ,-$3$*/3% 7'/#% .*% .46/$
()-%<$.-38%"#$%,-)+*)3'3%'3%?.-'.F&$9%F6/
$-6,/')*%7'/#%,-)*)6*4$0%'/4#'*+%)(/$* 3'$*/% .4.*/#)&</'4% 0$-2./)3'3C9% 7#$-$.3
/#$% 0'3$.3$% '3% 636.&&<% 4#-)*'49% .*0% /#$
0'3,-),)-/')*./$% /)% /#$% $-6,/')*8% a$0 )/#$-3% ,$-3'3/% ()-% <$.-3% @,$-3'3/$*/% .4.*1
3$?$-'/<%)(%/#$%4)*0'/')*%\64/6./$38
,.,6&$39% ,.,6&)?$3'4&$39% .*0% $4=$2.1 /#)&</'4%0$-2./)3'3C9%$3,$4'.&&<%'*%$&0$-&<
/)63% ,&.56$3% 7'/#% $-)3')*3% .*0% 4-63/3 ,./'$*/38%E$-3'3/$*/%0'3$.3$%-6*3%.%4#-)*'4
.-$% 34.//$-$09% )-% -.-$&<% +-)6,$0% @M'+38 -$&.,3'*+% 4)6-3$% .*0% '3% )(/$*% .33)4'./$0 .=854B864
NT1GG9 NT1GQC8% "#$% &$3')*3% .-$% 0'33$2'1 7'/#% .3/$)/'4% $4=$2.9% ./),'4% 0$-2./'/'39
*./$0% )*% /#$% /-6*:% .*0% 4.*% $I/$*0% /) .*0% 4)*/.4/% 0$-2./'/'38% [)2$% ,./'$*/3 "#$% $(($4/'?$*$33% )(% /-$./2$*/3% '3% 0'(;1
/#$%*$4:%.*0%,-)I'2.&%&'2F38`TJ!G%BI4$31 4)2,&.'*%)(%7$.:*$339%.*0%4.*4$-3%#.?$ 46&/% /)% .33$33% F$4.63$% )(% /#$% ?.-'.F&$
3'?$% 36*% $I,)36-$9% #$./9% 37$./'*+9% .*0 F$$*%.33)4'./$08 4)6-3$8% E-$4','/./'*+% (.4/)-39% '*4&60'*+
$I,)36-$% /)% ')*'='*+% -.0'./')*% .-$% ,-$1 Rl% -.0'./')*9% #$./9% 37$./'*+9% .*0% /),'1
4','/./'*+%(.4/)-38!Q%"#$-$%.-$%636.&&<%*) 4.&%'--'/.*/39%3#)6&0%F$%.?)'0$08%L*%2'&0
.33)4'./$0%;*0'*+38 !<KK8=864<57'!<5?6AJ<J 4.3$39% /),'4.&% 4)-/'4)3/$-)'039% $2)&1
&'$*/39%4.&4',)/-')&9%6-$.9%&.4/'4%.4'09%.*0
E-6-'+)% 3'2,&$I9% ()&&'46&'/'39% ,.,6&.-% $41
='*4% )I'0$% .-$% 63$(6&% '*% -$&'$?'*+% '--'/.1
=$2.9% 34.F'$39% ,.,6&.-% 6-/'4.-'.9% 2'&'.-'.
2<J4AH54NA7A?9 /')*% .*0% 4)*/-)&&'*+% /#$% ,-6-'/638% L*
-6F-.9% .*0% 0$-2./'/'3% #$-,$/'()-2'3
2)-$%3$?$-$%)-%,$-3'3/$*/%4.3$39%'3)/-$/1
M)6-% #'3/)&)+'4% /<,$3% #.?$% F$$*% 0$1 3#)6&0% F$% $I4&60$0% @c)I% NT1QC8% g_
'*)'*% @NU% 2+d0.<C9% .4'/-$/'*9% )-.&% 4)-/'1
34-'F$0%'*%g_9%7'/#%0'(($-$*/%,.//$-*3%)( 3#)6&0% .&3)% F$% 0'3/'*+6'3#$0% (-)2% )/#$-
4)3/$-)'039%.*0%,3)-.&$*%,&63%RlH%/#$-1
.4.*/#)&<3'38`T9!G9!V%"#$<%4)2,-'3$%.%__ .4.*/#)&</'4%0'3$.3$39%'*4&60'*+%,$2,#'1
.,<%4.*%F$%$(($4/'?$8!XJXV
/<,$% 7'/#% 36,-.F.3.&% 4&$(/% .*0% 0<3:$-.1 +63%?6&+.-'39%__9%.*0%ff_8%H%6*'&./$-.&
/)/'4% 4$&&3Z% .% ,$2,#'+631&':$% /<,$% 7'/# /-.*3'$*/% .4.*/#)&</'4% 0$-2./)3'3% @g_C
.4.*/#)&</'4%4$&&3%7'/#'*%36,-.F.3.&%4&$(/Z .&)*+%c&.34#:)K3%&'*$3%#.3%F$$*%-$,)-/$09 2+",&l@2+",&l'!"#&+#&
.*% ff_1&':$% /<,$% 7'/#% .4.*/#)&<3'3% )( .&/#)6+#% /#$% 0'(($-$*/'.&% 0'.+*)3'3% 7'/#
2)3/% )(% /#$% 3/-./62% 2.&,'+#''Z% .*0% . &'*$.-%__%-$2.'*3%0'(;46&/8!`9!! G8684<OJ
3,)*+')/'4% ()-2% 7'/#% .4.*/#)&</'4% 4$&&3 ff_%'3%.%-.-$%F&'3/$-'*+%0'3$.3$%'*#$-'/$0
7'/#'*% ?$3'4&$3% @M'+8% NT1GVC8% "#$3$% ,./1 '*%.*%.6/)3)2.&%0)2'*.*/%2.**$-8%L/3%'*1
/$-*3% .-$% (-$56$*/&<% '*% 4)2F'*./')*% .*0 4'0$*4$% #.3% F$$*% 36++$3/$0% /)% F$% G% '*
2.<%4)--$3,)*0%/)%?.-')63%3/.+$3%)(%/#$ WU9UUU8%E$*$/-.*4$%'*%.06&/3%'3%4)2,&$/$9
0'3$.3$8%"#$%#'3/)&)+'4%4#.*+$3%.-$%)(/$* F6/% $I,-$33'?'/<% '3% ?.-'.F&$8% [)2$%()-23
&)4.&'=$09% 3)% /#./% 26&/',&$% F'),3'$3% .*0 ,-$3$*/%7'/#%2'&0%&$3')*3%-$3$2F&'*+%$41
3$4/')*3% .-$% -$56'-$08% "#$% 0$-2'3% )(/$* =$2.9% 7#$-$.3% )/#$-% ()-23% .-$% 4#.-.41
3#)73%.*%'*\.22./)-<%4$&&%'*;&/-./$8%L*1 /$-'=$0%F<%3$?$-$%7'0$3,-$.0%0'3$.3$8XN
0'-$4/% '226*)\6)-$34$*4$% /$3/'*+% +'?$3 "#$% '0$*/';4./')*% )(% H"EQHQ% .3% /#$
*$+./'?$%-$36&/38% 0$($4/'?$% +$*$% '*% __% #.3% +6'0$0% /#$
3$.-4#%()-%/#$%+$*$%()-%ff_8%ff_%#.0
17<6<O57'(A=BJ F$$*% &'*:$0% /)% 4#-)2)3)2$% -$+')*
V5QG1QN9%7'/#%*)%$?'0$*4$%()-%&)463%#$/1
H% F6&&)63% ()-2% #.3% F$$*% 0$34-'F$08!N $-)+$*$'/<8% c$4.63$% ff_% .*0% __% .-$
S)-$%-$4$*/&<9%.%7'0$3,-$.0%()-2%)(%g_ ?$-<%3'2'&.-%F)/#%4&'*'4.&&<%.*0%#'3/)&)+1
7'/#% &$*/'+'*)63% 36*1'*064$0% ](-$4:&'*+^ 78.9:$-;@<>= G=AL8=' I<J85J8;' !<JO=848' H5H@ '4.&&<9%/#$%0'34)?$-<%)(%/#$%4-64'.&%-)&$%)(
7.3% -$,)-/$0% '*% /7)% ($2.&$38!W% S.*< >7AL8J<O>75='78J<A6J'AK'4N8'J>H8=B5BB5=9'=8?<A6 [BaAHQ%'*%4$&&1/)14$&&%.0#$3')*%.*0%0'(1
;!? 4.3$3% 4&$.-% 7'/#'*% .% ($7% 2)*/#3% @/-.*1 P<4N'O=>J4J'<6'5'^b@985=@A7I'B56; ($-$*/'./')*% )(% /#$% $,'0$-2'3% -.'3$0% /#$
A C
78.9:$-;@<>! AB'25<789@25<789j7<R8'H5448=6'<6'G=AL8='I<J85J8'P<4N'5=85J'AK'I845ON8I'R8=54<6AO948J'W5O564NA79J<JXQ'KAO57'JHA6?<AJ<JQ'56I'8H<I8=B57'N9H8=@
H75J<5;'CB')8BHN<?>J@7<R8'H5448=6'<6'G=AL8='I<J85J8'P<4N'J>H=5C5J57'5O564NA794<O'O785L5?8;
,)33'F'&'/<% /#./% 0$($4/3% '*% .*)/#$-% 4.&1 4)0$3%/#$%-$&./$0%#62.*%3$4-$/)-<%,./#1 ff_% '3% 4.63$0% F<% 26/./')*3% '*.4/'1
4'62% ,62,% 4)6&0% 6*0$-&'$% ff_8% "#'3 7.<% A.QndS*Qn% H"E.3$% @#[EAHGC9% .3 ?./'*+% )*$% H"EQAG% .&&$&$8XT% S)-$% /#.*
&$0%/)%/#$%'0$*/';4./')*%)(%.%*$7%+$*$%'* /#$%0$($4/'?$%+$*$%'*%ff_8WX9XW XU% ,./#)+$*'4% H"EQAG% 26/./')*3% #.?$
/#$% ff_% -$+')*9% H"EQAG9% 7#'4#% $*1 "#$%+$*$%3,.*3%.,,-)I'2./$&<%VU%:F%)* F$$*%-$,)-/$0%/)%0./$8%"#$%3/60'$3%#.?$
V5QG%.*0%4)2,-'3$3%QX%$I)*3%$*4)0'*+%. -$?$.&$0% /#./% 26/./')*3% 0'0% *)/% 4&63/$-
N8W1:F%/-.*34-',/8%"#$%,-$0'4/$0%,-)/$'*%'3 F6/% 7$-$% 34.//$-$0% .4-)33% /#$% H"EQAG
2+",&l@2+",&l .,,-)I'2./$&<%GGW%:0%'*%3'=$8%H&/$-*./'?$
3,&'4'*+%)(%H"EQAG%,-'2.-<%/-.*34-',/3%'*
+$*$% .*0% 3#)7% 36F3/.*/'.&% .&&$&'4% #$/1
$-)+$*$'/<8QX9WX9XW9TUJTX% [$?$-.&% -$46--$*/
!"#&+#&'W$*"*' :$-./'*)4</$3%&$.03%/)%()6-%3,&'4$%?.-'.*/39
H"EQAG.% /)% H"EQAG09% 7#'4#% 0'(($-% F<
26/./')*3%#.?$%F$$*%'0$*/';$09%3)2$%)(
7#'4#%-$36&/%(-)2%.%()6*0$-%$(($4/%'*%,.1
0'(($-$*/% 3,&'4'*+% )(% $I)*% Q!% .*0d)-% QX8 /'$*/3% )(% c-'/'3#% $I/-.4/')*8TU% O(% /#$3$
sZ`a`[[X H"EQAG0%'3%/#$%&.-+$3/%?.-'.*/9%4)*/.'*'*+
$I)*3%Q!%.*0%QX%'*%/#$'-%$*/'-$/<8%H"EQAG
26/./')*39%QU%,$-4$*/%.-$%*)*3$*3$%261
/./')*3% .*0% VU% ,$-4$*/% .-$% (-.2$3#'(/
&4<A7A?9'56I')54NA?868J<J
"#$%2.>)-'/<%)(%26/./')*3%-$36&/%'*%,-)1
/$'*%'*3/.F'&'/<9%7#$-$.3%)/#$-3%4.63$%&.4:
)(% A.Qn% .*0d)-% S*Qn% ')*% /-.*3,)-/
/#-)6+#%0'(($-$*/%.&/$-./')*3%)(%/#$%4./.1
&</'4% 4<4&$% )(% /#$% [EAHG% ,62,8TG9TQ9GUU
[/60'$3% #'+#&'+#/% /#$% 4-64'.&% -)&$% )(% 3,$1
4';4%-$3'06$3%'*%/#$%F'*0'*+%)(%A.Qn%.*0
S*Qn%/)%#[EAHG8%"#$<%.&3)%(6-/#$-%36,1
,)-/%/#$%/#$)-<%)(%#.,&)'*36(;4'$*4<%.3%. 78.9:$-;@<>; 25<789@25<789' I<J85J8' WK5B<7@
,-$?.&$*/% 2$4#.*'32% ()-% /#$% 0)2'*.*/ <57'C86<?6'H8BHN<?>JX;'29H8=4=AHN<O'56I'B5O8=@
'*#$-'/.*4$%)(%ff_9%7#'4#%36++$3/3%/#./ 548I' H75\>8' AK' 4N8' 5S<775' P<4N' H5<6K>7' TJJ>=8J
/#$%&$?$&%)(%(6*4/')*.&%#[EAHG%'*%$,'0$-1 W=N5?5I8JX; 78.9:$-;@<>6 FN<48'7A6?<4>I<657'J4=<H8J'A6'4N8
2.&%4$&&3%'3%4-'/'4.&8 T6?8=65<7J'AK'5'H54<864'P<4N'25<789@25<789'I<J85J8;
L*%?'$7%)(%/#$%6F'56'/)63%$I,-$33')*%)( ,&.'*%7#<%&$3')*3%.-$%$I.4$-F./$0%F<%$I1
H"EQAG9% '/% '3% *)/% 4&$.-% 7#<% 0$($4/3% '* /$-*.&% (.4/)-3% @36*% $I,)36-$9% 37$./'*+9 7#$*% 34-./4#$08% S64)3.&% '*?)&?$2$*/
H"EQAG% -$36&/% '*% .% 0'3$.3$% -$3/-'4/$0% /) (-'4/')*C% /#./% 7)6&0%,&.4$% $,'0$-2.&%4$&&3 '3%-.-$9%F6/%)-.&9%$3),#.+$.&9%.*0%?6&?.-
/#$%3:'*9%.*0%7#<%/#$%0'3)-0$-%'3%&'2'/$0 6*0$-% 3/-$33% .*0% 0'3-6,/% .% 36F/&$% F.&.*4$ &$3')*3%.-$%,)33'F&$8%D)*+'/60'*.&%7#'/$
/)% 4$-/.'*% .-$.3% )(% /#$% 3:'*8% "#$% 2$4#.1 2.'*/.'*$0%'*%/#$%3/$.0<%3/./$8%L*%36,,)-/ &'*$3%)*%/#$%;*+$-*.'&3%4.*%F$%3$$*%.*0
*'32% F<% 7#'4#% 26/.*/% H"EQAG% 4.63$ )(% /#'3% ,)33'F'&'/<9% Rlc% '--.0'./')*% .*0 .-$% #$&,(6&% '*% 0'.+*)3'*+% /#$% 0'3$.3$
.4.*/#)&<3'3% '3% .&3)% 6*:*)7*8% ff_% :$1 ,-)1'*\.22./)-<% 4</):'*$3% #.?$% F$$* @M'+8%NT1G`C8%E$*$/-.*4$%'*%.06&/3%'3%4)21
-./'*)4</$3% '*% 46&/6-$% 0'3,&.<% $&$?./$0 3#)7*% /)% 0)7*-$+6&./$% H"EQAG% .3% 7$&& ,&$/$9% F6/% $I,-$33'?'/<% '3% ?.-'.F&$% F$1
-$3/'*+% 4</)3)&'4% A.Qn% &$?$&39% .F*)-2.&&< .3% H"EQHQ% 2aPH% $I,-$33')*8GUW% M'*.&&<9 /7$$*%.*0%7'/#'*%.(($4/$0%(.2'&'$3%@3$$
&)7%g)&+'%A.Qn%&$?$&39%.*0%'2,.'-$0%-$+61 0$($4/'?$% .4/'*% -$)-+.*'=./')*% .*0% . A&'*'4.&%M)-23C8%M&$I6-.&%()-23%2.<%F$1
&./')*%)(%$I4$33%4</)3)&'4%A.Qn%'*%?'/-)8WX9X` 2.-:$0% 0$4-$.3$% '*% 4$&&6&.-% H"E% #.?$ 4)2$%#<,$-/-),#'4%.*0%2.&)0)-)638
HF*)-2.&% A.Qn% 3'+*.&'*+% '*% ff_% :$-./'1 F$$*% -$,)-/$0% '*% ff_% :$-./'*)4</$3% '*
*)4</$3%4)--$&./$3%7'/#%0$4-$.3$0%,-)/$'* ?'/-)9%7#'4#%36++$3/3%.*%.00'/')*.&%2$4#1 2<J4AH54NA7A?9
&$?$&3% )(% H"EQAG8% L*% ?'?)9% 4&'*'4.&&<% *)-1 .*'32%'*%/#$%,./#)+$*$3'3%)(%ff_8GU`
2.&%ff_%4)*/.'*3%&)7$-%A.Qn%3/)-$3%.*0 f'3/),./#)&)+'4%$I.2'*./')*%)(%3:'*%&$1
0'3,&.<3%.*%.F*)-2.&%A.Qn%+-.0'$*/8X`%B&$1 3')*3% 3#)73% 7'0$3,-$.0% &)33% )(% 4)#$1
17<6<O57'*56<K8J454<A6J 3')*% F$/7$$*% 36,-.F.3.&% :$-./'*)4</$3
?./$0%4</)3)&'4%A.Qn%&$?$&3%4)6&0%'*\6$*4$
+$*$%$I,-$33')*%)-%.&/$-%,)3/1/-.*3&./')*.& "#$% 0'3$.3$% )(/$*% 2.*'($3/3% '*% .06&/1 @.4.*/#)&<3'3C9%+'?'*+%/#$%.,,$.-.*4$%)(
2)0';4./')*%)(%/.-+$/%,-)/$'*3%@.4/'?./')* #))0%@VU3%.*0%NU3C%.*0%'3%4#.-.4/$-'=$0 .% ]0'&.,'0./$0% F-'4:% 7.&&^% @M'+8% NT1G!C8
)(% ,-)/$'*% :'*.3$% AC8% H&/$-*./'?$&<9% &)7 F<% ?$3'46&.-% &$3')*39% ,.'*(6&% $-)3')*39 l$3'4&$% ()-2./')*% )-% $,'0$-2.&% 4&$(/'*+
A.Qn%)-%S*Qn%4)*4$*/-./')*3%'*%/#$%g)&+' .*0%34.&<%$-</#$2./)63%,&.56$3%/#./%)41 '3%,)33'F&$8%_<3:$-./)3'39%7#$*%,-$3$*/9
&62$*% 4)6&0% '2,.'-% ,)3/1/-.*3&./')*.& 46-%./%3'/$3%)(%(-'4/')*%.*0%\$I6-$3%@*$4:9 '3% 2'&08% R&/-.3/-64/6-.&% 3/60'$3% )(% .4.*1
2)0';4./')*3%@,-)/$)&</'4%,-)4$33'*+9%+&<1 .I'&&.$9%36F2.22.-<%-$+')*9%+-)'*9%.*0 /#)&</'4% 4$&&3% #.?$% 3#)7*% ,$-'*64&$.-
4)3<&./')*9%/-.(;4:'*+9%)-%3)-/'*+C%)(%2$21 ,$-'*$62C% @M'+38% NT1GN9% NT1GWC8% E.'*(6& .++-$+./$3%)(%:$-./'*%;&.2$*/3%/#./%#.?$
F-.*$% @.33)4'./$0C% ,-)/$'*3% '2,)-/.*/% '* ;336-$3% @-#.+.0$3C% '*% \$I6-$3% .-$% 4)21 -$/-.4/$0%(-)2%0$32)3)2.&%,&.56$38`X
$,'0$-2.&% 4$&&1/)14$&&% .0#$3')*9% 364#% .3 2)*%.*0%?$-<%36++$3/'?$%)(%/#$%0'3$.3$8
0$32)3)2.&% 4)2,)*$*/38% "#'3% 2.<% '21 "#$% &$3')*3% .-$% )(/$*% '/4#<% F6/% ,.'*(6& 17<6<O57'(A=BJ
,.'-%0$32)3)2$%()-2./')*%.*0d)-%3/.F'&1
'/<9%&$.0'*+%/)%/#$%.4.*/#)&<3'3%4#.-.4/$-'31 BI,-$33'?'/<% )(% /#$% 0'3$.3$% 4.*% ?.-<
/'4% )(% ff_8% L/% #.3% F$$*% 36++$3/$0% /#./ +-$./&<8% S'&0% ()-23% 2.<% F$% &'2'/$0% /)
0$32)3)2.&% +&<4),-)/$'*3% 0'(($-% '*% /#$'- *.'&% 4#.*+$3% )-% 2'&0% &$3')*3% -$3$2F&'*+
$I/$*/% )(% +&<4)3<&./')*% .2)*+% 0'(($-$*/ $4=$2.9% 7#$-$.3% 3$?$-$% ()-23% 0'3,&.<
4$&&% /<,$38% "#639% /#$% -$.3)*% 7#<% 4&'*'4.& 7'0$3,-$.0%\$I6-.&%0'3$.3$9%7'/#%#<,$-1
3'+*3%.-$%-$3/-'4/$0%/)%/#$%$,'0$-2'3%4)6&0 /-),#'4% .*0% 2.&)0)-)63% ,&.56$3% .*0
F$% -$&./$0% /)% .% ,.-/'46&.-% +&<4)3<&./')* ,.'*(6&%;336-$38%"#'3%4.*%4.63$%4)*3'0$-1
3/./$% /#./% &$.?$3% $,'0$-2.&% 4$&&3% 2)-$ .F&$% ,.'*% .*0% 0'3/-$33% .*0% 4.*% &'2'/% ,.1
,-)*$%/)%A.Qn%4#.*+$38%L/%'3%.&3)%,)33'F&$ /'$*/% 2)F'&'/<8% "#$-$% .-$% *)% $I/-.1
/#./%*)*146/.*$)63%/'336$3%#.?$%4)2,$*1 46/.*$)63% 2.*'($3/./')*38XN% "7)% /<,$3
3./)-<%2$4#.*'323%/)%)?$-4)2$%H"EQAG )(% 2)3.'4'32% .-$% 3$$*% '*% ,./'$*/3% 7'/#
0<3(6*4/')*% /#./% .-$% 2'33'*+% '*% /#$% 3:'*8 ff_8%"<,$%G%3$+2$*/.&%2.*'($3/./')*%)(
"#$% 0$2)*3/-./')*% )(% &)33% )(% $I,-$33')* 2)3.'4'32% ,-$362.F&<% -$\$4/3% .% &)4.&1
.*0d)-% (6*4/')*% )(% 26/.*/% [EAHG% ,-)1 '=$0%,)3/=<+)/'4%26/./')*8GU!%"#'3%2.*'1
/$'*3%'0$*/';$0%'*%ff_%36++$3/3%/#./%$,'1 ($3/3% .3% .% 3/-$.:% )-% 26&/',&$% &)4.&'=$0
0$-2.&% 4$&&3% .-$% 3$*3'/'?$% /)% &$?$&3% )( 78.9:$-;@<># (AO57'8=AJ<L8'H75\>8'P<4N'TJ@ 3/-$.:3% )(% 0'3$.3$% .&)*+% c&.34#:)K3% &'*$3
#[EAHG%@+$*$%0)3.+$C9%7#'4#%2.<%*)/%F$ J>=8J'<6'4N8'5S<775'AK'5'H54<864'P<4N'25<789@25<789 '*%.%,./'$*/%7'/#)6/%$?'0$*4$%)(%/#$%0'31
/#$% 4.3$% ()-% )/#$-% /'336$38% "#'3% 4)6&0% $I1 I<J85J8; )-0$-% $&3$7#$-$8% "<,$% Q% 2)3.'4'32% '3
;;I
.2'*)+&<4)3'0$3% /)% '*064$% -$.01/#-)6+#
)(% *)*3$*3$% 26/./')*3% '*% #62.*% 4$&&38
"#'3% &$0% /)% .% 3'+*';4.*/% '2,-)?$2$*/% '*
/#$% ,./'$*/K3% &$3')*39% 7#'4#% '*0'4./$3% /#$
,)/$*/'.&% ?.&6$% )(% /#'3% .,,-).4#% ()-% ,.1
/'$*/3% 7'/#% .% *)*3$*3$% H"EQAG% 26/.1
/')*8GG`% [6-+$-<% -$2.'*3% .*% ),/')*% '*% /#$
.F3$*4$%)(%-$3,)*3$%/)%/#$3$%/-$./2$*/38
_'$/%.*0%.4/'?'/<%.0?'4$%'3%.&3)%63$(6&8
")% #$&,% 2'*'2'=$% (-'4/')*9% ,./'$*/
7$'+#/% 3#)6&0% F$% 2.'*/.'*$0% ./% .,,-)1
,-'./$% &$?$&39% .*0% 4)2()-/.F&$% 4&)/#'*+
3#)6&0% F$% 7)-*% /)% ,-$?$*/% #$./9% 2)'31
/6-$9%.*0%(-'4/')*8
/&l'%&(&%&-1&#
.N8'K>77'=8K8=86O8'7<J4'KA='577'ON5H48=J'
<J'5L5<75C78'54'PPP;I<?Bc;OAB;
N8 A)),$-%[S9%c6-+$%[Sh%_.-'$-K3%0'3$.3$h
B,'0$2')&)+<9% ,./#),#<3')&)+<9% .*0
2.*.+$2$*/8 4+1 B1 ?-"!1 @%'+(&7- 'hT!9
QUUV
!8 [.:6*/.F#.'% H% $/% .&h% S6/./')*3% '*
78.9:$-;@<>" 25<789@25<789'I<J85J8;'&S486J<L8'7AJJ'AK'<648=O877>75='OA645O4J'P<4N<6'4N8'J>H=5C5J57 H"EQHQ9%$*4)0'*+%.%A.Qn%,62,9%4.63$
56I'>HH8='7598=J'AK'4N8'8H<I8=B<J'?<L<6?'4N8'5HH85=56O8'AK'5'fI<75H<I548I'C=<OR'P577;g _.-'$-%0'3$.3$8%E(&1I%!%& "#hQ!G9%GTTT
X8 f)?*.*'.*% Hh% _.-'$-K3% 0'3$.3$h% M-)2
0<3:$-./)3'3% /)% $*0),&.32'4% -$/'46&62
4#.-.4/$-'=$0%F<%3$?$-$&<%.(($4/$0%6*'&./1 2'33')*3% /#./% 4.*% &.3/% 2)*/#3% /)% <$.-38 4.&4'62%H"E.3$%0$;4'$*4<8%A"7#$%+1A"7*
$-.&% 3$+2$*/.&% .-$.3% .&)*+% c&.34#:)K3 "#$%0'3$.3$%4.*%3$?$-$&<%.(($4/%/#$%56.&1 ,$/)1>%)1?7++9! &""hGQV!9%QUUN
&'*$3%36,$-'2,)3$0%)*%4&.33'4%0'3$.3$9GUX '/<% )(% &'($8GUT% "#$% 0$?$&),2$*/% )(% 356.1 GN8 _#'/.?./% j% $/% .&h% H4-):$-./)3'3% ?$--64'1
7#'4#% 36++$3/3% ,)3/=<+)/'4% &)33% )(% #$/1 2)63% 4$&&% 4.-4'*)2.3% )*% ff_% 3:'*% &$1 ()-2'3%)(%f),(%'3%4.63$0%F<%26/./')*%'*
H"EQHQh% B?'0$*4$% /#./% '/% '3% .&&$&'4% /)
$-)=<+)3'/<%./%/#$%H"EQAG%&)4638 3')*3%#.3%F$$*%-$,)-/$0%'*%-.-$%4.3$38GGU _.-'$-K3% 0'3$.3$8% B1 C!8%)&1 @%'+(&7-
#"%hQQT9%QUUV
GW8 g)0'4% H% $/% .&h% EG`UD% 26/./')*% '*% /#$
!<KK8=864<57'!<5?6AJ<J .=854B864 A.@QnC% H"E.3$% QH% 0)2.'*%'*% .% ,./'$*/
7'/#%3$?$-$%_.-'$-%0'3$.3$8%@%'+(&7-70/
ff_%3#)73%4)*3'0$-.F&$%4&'*'4.&%.*0%#'31 ff_%'3%.%0'(;46&/%0'3$.3$%/)%/-$./9%.*0%?.-1 "%*hGNQ9%QUUN
/)&)+'4%)?$-&.,%7'/#%__9%.&/#)6+#%.4.*1 ')63% /#$-.,$6/'4% 2)0.&'/'$3% 263/% F$% 4)*1 W`8 [.:6*/.F#.'% H% $/% .&h% S)3.'4'32% ()-
/#)&<3'3% '3% 2)-$% 7'0$3,-$.0% '*% ff_9 3'0$-$08%"#$%63$%)(%/),'4.&%4)-/'4)3/$-)'03 H"EQHQ% 26/./')*3% 4.63$3% 3$+2$*/.&
7#$-$.3% 0<3:$-./)3'3% '3% .% ,-$0)2'*.*/ _.-'$-K3% 0'3$.3$8% B1 C!8%)&1 @%'+(&7-
'*% .33)4'./')*% 7'/#% .*/'F.4/$-'.&% .+$*/3 ##)hGGNN9%QUUU
($./6-$% )(% __8% c$4.63$% &$3')*3% 4.*% ?.-< 4.*%-$36&/%'*%/-.*3'$*/%'2,-)?$2$*/8%S)-$ WX8 f6%{%$/%.&h%S6/./')*3%'*%H"EQAG9%$*4)01
4)*3'0$-.F&<9%/#$%0'3$.3$%4.*%F$%2'30'.+1 7'0$3,-$.0% \.-$3% 2.<% -$56'-$% 3<3/$2'4 '*+%.%4.&4'62%,62,9%4.63$%f.'&$<1f.'&$<
*)3$0%.3%$4=$2.Z%F.4/$-'.&9%(6*+.&9%)-%?'1 .*/'F')/'43% @$-</#-)2<4'*% .*0% /$/-.4<1 0'3$.3$8 E(&1I%!%& "'h`G9%QUUU
-.&%'*($4/')*Z%)-%,$2,#'+63%@c)I%NT1VC8 4&'*$3C8% c.4/$-'.&% 46&/6-$% .*0% 3$*3'/'?'/< `Q8 Y.*+%Eg%$/%.&h%g$*$/'4%#$/$-)+$*$'/<%'*
.4-):$-./)3'3% ?$--64'()-2'3% )(% f),(8
/$3/'*+%.-$%63$(6&%/)%0$/$-2'*$%.,,-),-'./$ ?-"!1JS,1@%'+(&7- &#hWWX9%QUU`
1A>=J8 .*/'F')/'438%L*%,./'$*/3%7'/#%-$(-.4/)-<%0'31 `V8 a.&&'3% B% $/% .&h% H4-):$-./)3'3% ?$--64'()-1
$.3$9% /#$% -$3,)*3$% /)% 0.,3)*$9% 3<3/$2'4 2'3%)(%f),(%@f),(%0'3$.3$Ch%A.3$%-$,)-/
D$3')*3%.-$%(-$56$*/&<%'*064$0%)-%$I.4$-1 4)-/'4)3/$-)'039% -$/'*)'03% @.4'/-$/'*% )-% '3)1 .*0% -$?'$7% )(% /#$% &'/$-./6-$8% @%'+(&7-
H!-"!%1B ##hGU9%QUUW
F./$0% F<% Rl% $I,)36-$9% 37$./'*+9% (-'41 /-$/'*)'*C9%.*0%'226*)2)06&./)-3%@2$/#1 `!8 E.-3)*3%jSh%"-.*3'$*/%.4.*/#)&</'4%0$-1
/')*9%.*0%3:'*%'*($4/')*8%"#$%0'3$.3$%#.3 )/-$I./$9% /#.&'0)2'0$9% 4<4&)3,)-'*$C% '3 2./)3'3%@g-)?$-K3%0'3$.3$Ch%H%+&)F.&%,$-1
.%4#-)*'4%\64/6./'*+%4)6-3$9%.*0%,./'$*/3 636.&&<%,))-8%"-$./2$*/%7'/#%3<3/$2'4%)- 3,$4/'?$8 B1 4+1 4#(61 @%'+(&7- &)h`WV9
6*0$-+)% -$46--$*/% $I.4$-F./')*3% .*0% -$1 /),'4.&%4.&4',)/-')&%7.3%-$,)-/$0%/)%F$%$(;1 GTT`Z%56'=%``!
4'$*/8`G9GGGJGGV%"#$%$I.4/%2$4#.*'32%)(%.41 XN8 c6-+$% [Sh% f.'&$<1f.'&$<% 0'3$.3$h% "#$
4&'*'4.&% ($./6-$39% -$3,)*3$% /)% /-$./2$*/
#./&'2(, /')*%)(%?'/.2'*%_V%'*%/-$./'*+%ff_%'3%6*1 .*0% ,-)+*)3'38% A'1 B1 @%'+(&7- #"$hQ!W9
0+EE()(%*+$H&0+$Q%2,+,&2E& :*)7*9%F6/%'/%4)6&0%'*?)&?$%.*%'*4-$.3$ GTTQ
'*% A.Qn% '*/-.4$&&6&.-% 4)*4$*/-./')*% .3 XW8 [60F-.:%a%$/%.&h%f.'&$<1f.'&$<%0'3$.3$%'3
!$+H(PX!$+H(P&0+,($,( 4.63$0%F<%26/./')*3%'*%H"EQAG%$*4)01
3#)7*%'*%46&/6-$0%:$-./'*)4</$38GGN%S)-$
,"-#'.)/ '*+% .% *)?$&% A.@QnC% ,62,8% =9+1 K7-
-$4$*/&<9% /),'4.&% .,,&'4./')*% )(% /.4-)&'263 I%!%& *hGGVG9%QUUU
!5=<8=@FN<48'I<J85J8 7.3%.&3)%()6*0%/)%F$%$(($4/'?$8GGW%c$4.63$ X!8 S'33'.$*% D% $/% .&h% [EAHG% ,62,3% .*0
&OV8B5 /#'3%2)&$46&$%'3%.%4.&4'*$6-'*%'*#'F'/)-9%/#'3 f.'&$<1f.'&$<% 0'3$.3$8% A"7#$%+1 A"7,$/)
>7/;9;7'<6K8O4<A6 -.'3$3%/#$%56$3/')*%)(%/#$%-)&$%)(%'/3%3'+*.&1 >%)1?7++9! &""hGQUN9%QUUN
"648=4=<?A '*+%,./#7.<%'*%/#$%0'3$.3$8%M'*.&&<9%/),'4.& XT8 M)++'.%D9%f)?*.*'.*%Hh%A.&4'62%,62,
0'3)-0$-3%)(%/#$%3:'*8%4+1B1K%61I%!%&1?
34*)%54$ .,,&'4./')*%)(%+$*/.2'4'*%7.3%63$0%'*%.* F%+"!1K%61I%!%& #hQU9%QUUN
)8BHN<?>J'L>7?5=<J ff_%,./'$*/%#.-F)-'*+%.%*)*3$*3$%26/.1 TG8 M.'-4&)6+#% aj% $/% .&h% B(($4/% )(% f.'&$<1
/')*%'*%H"EQAG%F$4.63$%)(%/#$%,)/$*/'.&%)( f.'&$<% 0'3$.3$% 26/./')*3% )*% /#$% (6*41
;;>
/')*%)(%.%*$7%?.-'.*/%)(%#62.*%3$4-$/)-< '($3/./')*%)(%f.'&$<1f.'&$<%0'3$.3$8%B14+ f.'&$<% 0'3$.3$9% ,-)?'0'*+% 2)&$46&.-
,./#7.<%A.QndS*Qn1H"E.3$%@#[EAHGC8%B 4#(61@%'+(&7- '*h!GQ9%QUUV 4)*;-2./')*%)(%.%*)?$&%+$*$/'4%4)*4$,/8
A"7-1?$%+ "(+hQN!QG9%QUUV GUX8 E)F&$/$1g6/'$--$=% E% $/% .&h% H&&$&'4% &)33 B1?-"!1C!8%)& ##'hGN`!9%QUUN
GU!8 f7.*+%Do%$/%.&h%"<,$%G%3$+2$*/.&%2.*1 6*0$-&'$3% /<,$% Q% 3$+2$*/.&% f.'&$<1
12+).&%'^[ )/#$-%()-23%.*0%0'(($-$*/%/<,$3%0$?$&),1
'*+% '*% 26&/',&$% 2$2F$-3% )(% .*% .(($4/$0 )$%$/&%+.$#"#
(.2'&<%36++$3/%2)-$%3'2'&.-'/'$3%/#.*%0'31
!<JJ8B<6548I'#>H8=TO<57'
+O4<6<O')A=AR8=54AJ<J
_'33$2'*./$0% 36,$-;4'.&% .4/'*'4% ,)-)1
:$-./)3'3% @_[HEC% '3% /#$% 2)3/% 4)22)* A C
)(% /#$% ,)-):$-./)3$38% D$3')*3% .-$% 4#.-1
.4/$-'3/'4.&&<% 6*'()-2&<% 32.&&9% .**6&.-9 78.9:$-#I<= AB'!<JJ8B<6548I'J>H8=TO<57'5O4<6<O'HA=AR8=54AJ<J'P<4N'B>74<H78'78J<A6J'A6'4N8'KA=85=B
.3<2,/)2./'4%)-%2'&0&<%,-6-'/'4%,.,6&$3 <6'4N<J'J8L8=879'5KK8O48I'<6I<L<I>57;'CB'.N8'ON5=5O48=<J4<O'K>==AP<6?'W7--()$X'<J'O785=79'I8BA6J4=548I'A6
-.*+'*+%(-)2%Q%/)%W%22%'*%0'.2$/$-9%0'31 4N8'KA=85=B'AK'4N<J'H54<864; ;;!
1!+G#'#96I=AB8
A_Hg[%3<*0-)2$%@#-.*')3<*)3/)3'3%.*0
4&.?'46&.-%#<,),&.3'.9% 6$&.<$0% 4&)36-$%)(
/#$% ()*/.*$&9% (*.&% .*)2.&'$39% 0$*'/)6-'1
*.-<% 2.&()-2./')*39% ):'*% $-6,/')*C9% .&3)
-$($--$0%/)%.3%?4D1)/!6'7+%%@4'(!"7)/!7)*
&7)")9%.!(-1(!7+(-"%)Q1(!61,7'7<%'(&7)")C9%'3
.% -.-$% +$*)0$-2./)3'3% -$,)-/$0% '*% ()6-
$/#*'4.&&<% 0'?$-3$% (.2'&'$3% /)% 0./$8N!9NX
"#$%2.'*%,#$*)/<,'4%($./6-$3%4)*3'3/%)(
4-.*')3<*)3/)3'3%.*0%4&.?'46&.-%#<,),&.1
3'.9%.*.&%.*)2.&'$39%.*0%,)-):$-./)3'38%L/
78.9:$-#I<! ,<685=' HA=AR8=54AJ<J' JNAP<6? .,,$.-3%/)%3$+-$+./$%.3%.*%.6/)3)2.&%-$1
4N8' ON5=5O48=<J4<O' I<J4=<C>4<A6' 57A6?' e75JONRAmJ 4$33'?$% /-.'/9% 7'/#% ,)33'F&$% &'*:.+$% /)
7<68J; 4#-)2)3)2$% F.*0% QQ5GQ1GV8% "#$% 46/.1
*$)63% 2.*'($3/./')*3% .-$% 3/-':'*+&<% 4)*1
/')*3%#.?$%F$$*%-$,)-/$08NG%"7)%0'3/'*4/ 3'3/$*/9% 7'/#% /#$% 0$?$&),2$*/% )(% 32.&&9
4&'*'4.&% ?.-'.*/3% #.?$% F$$*% 0$34-'F$08 7'0$3,-$.0%,)-):$-./)/'4%,.,6&$3%(-)2%G
78.9:$-#I<; )A=AR8=54AJ<J' H57B5=<J' 84
"#$%2)-$%4)22)*%,-$3$*/./')*%4)*3'3/3 2)*/#%)(%.+$%'*%.(($4/$0%'*0'?'06.&39%,-$1
H75645=<J' I<JJ8B<6545' JNAP<6?' B>74<H78' J>H8=T@ 0)2'*.*/&<% .(($4/'*+% /#$% (.4$% .*0% $I1
)(% .% 6*'&./$-.&% &$3')*% 4)*;*$0% /)% .*% $I1
O<57'78J<A6J'A6'4N8'O57K;'-A48'4N8'J<B<75=<49'4A'I<J@ /-$2'/'$39% 7'/#% -$,)-/$0% ,#)/).++-.?.1
/-$2'/<% ()&&)7'*+% c&.34#:)K3% &'*$3% @M'+8
WU1VC8%L*%/#$%-.-$%+$*$-.&'=$0%()-29%26&/'1 J8B<6548I' J>H8=TO<57' 5O4<6<O' HA=AR8=54AJ<J /')*% )(% &$3')*38% L/% '3% ,)3/6&./$0% /#./
,&$%&$3')*3%.(($4/%3$?$-.&%$I/-$2'/'$3%.*0 JNAP6'<6'(<?;'^[@_+; 0<3-$+6&./')*%)(%26&/',&$%3'+*.&'*+%,./#1
2.<%'*?)&?$%/#$%/-6*:8%D'*$.-%,)-):$-.1 7.<3%06-'*+%$2F-<)+$*$3'3%'3%4.63./'?$Z
/)3'3% '3% /#)6+#/% /)% -$,-$3$*/% .% 2)3.'4 -'3% 0'33$2'*./.% .(($4/3% 2.&$3% /7'4$% .3 #)7$?$-9% *)% 6*'(<'*+% ,./#)+$*$/'4
()-2% )(% 4&.33'4% ,)-):$-./)3'3% )(% S'F$&&'9 )(/$*%.3%($2.&$38 2$4#.*'32%#.3%F$$*%'0$*/';$08
-$36&/'*+% (-)2% .% ,)3/=<+)/'4% 26/./')*8
D'*$.-%?.-'.*/3%#.?$%/#$%#'+#$3/%,)/$*/'.& )>6O4548')A=AR8=54AJ<J 2"#.$)+.2$,$Gl
()-%2.&'+*.*/%0$+$*$-./')*%)(%.&&%/#$%,)1
-):$-./)3$38% L/% #.3% F$$*% ,)3/6&./$0% /#./ E6*4/./$% ,)-):$-./)3'3% 636.&&<% .,,$.-3 f'3/),./#)&)+'4% ,.//$-*3% .-$% 3'2'&.-% '*
/#'3% .33)4'./')*% 4.*% F$% .//-'F6/$0% /)% .&1 06-'*+% .0)&$34$*4$% )-% .06&/#))0% .*0 .&&% ()-23% )(% ,)-):$-./)3'39% 7'/#% /#$
&$&'4%&)33%06$%/)%26/./')*%)-%)?$-$I,-$31 2.<% F$% 3$$*% 4)*4)2'/.*/&<% 7'/#% )/#$- 4#.-.4/$-'3/'4% 4#.*+$3% $?'0$*/% ./% /#$
3')*% )(% ,WV8NQ% "#$-$% .-$% .&3)% -$,)-/3% )( /<,$3%)(%,)-):$-./)3'38%S6&/',&$%2'*6/$ -.'3$0%.*0%.0?.*4'*+%$0+$%)(%/#$%&$3')*8
/#$% 4)1$I'3/$*4$% )(% &'*$.-% ,)-):$-./)3'3 .*0%0'34-$/$%,6*4/./$9%#<,$-:$-./)/'4%&$1 "#$%3/-./62%4)-*$62%'3%#<,$-:$-./)/'49
.*0%_[HE%'*%/#$%3.2$%,./'$*/%)-%.%;-3/1 3')*3%36--)6*0$0%F<%.%/#'*9%-.'3$0%2.-1 7'/#% .% /#'*% 4)&62*% )(% ,))-&<% 3/.'*'*+
0$+-$$% (.2'&<% 2$2F$-8NV9NN% "#$3$% ;*01 +'*% .-$% ,-$3$*/% )*% /#$% ,.&23% .*0% 3)&$38 ,.-.:$-./)/'4% 4$&&39% /#$% 4)-*)'0% &.2$&&.9
'*+3%2.<%F$%$I,&.'*$0%F<%/#$%&)33%)(%#$/1 D$3')*3% 2.<% )446-% '*% .% &'*$.-% .--.*+$1 -6**'*+% /#-)6+#% /#$% 36--)6*0'*+% *)-1
$-)=<+)3'/<% ()-% /#$% _[HE% .&&$&$% .*0 2$*/9% )-% /#$<% 2.<% .++-$+./$% /)% ()-2 2.&13/.'*'*+%4$&&3%@M'+8%WU1`C8%"#$%6*0$-1
,-)?'0$3% .*% $I.2,&$% )(% /#$% /<,$% Q% 3$+1 ,&.56$38%E6*4/./$%,)-):$-./)3'3%263/%F$ &<'*+%:$-./'*)4</$3%.-$%$0$2./)63%7'/#
2$*/.&% 2.*'($3/./')*3% )(% .*% .6/)3)2.& 0'(($-$*/'./$0% 4&'*'4.&&<% .*0% #'3/)&)+'1 3,)*+')3'3% .*0% 3#-6*:$*% *64&$'9% .*0% .
0)2'*.*/%0'3)-0$-8NW9N` 4.&&<% (-)2% ,6*4/./$% :$-./)0$-2.9% .&3) 3/-':'*+% 0$-2.&% &<2,#)4</'4% ,.//$-*
-$($--$0% /)% .3% ,6*4/./$% ,)-):$-./)/'4 2.<%F$%$?'0$*/8%R*0$-&<'*+%/#$%4)-*)'0
:$-./)0$-2.% )-% .3% ,)-):$-./)3'3% ,6*41 &.2$&&.9% /#$% +-.*6&.-% &.<$-% '3% $'/#$-% .F1
)A=AR8=54AJ<J')57B5=<J' /./.%,.&2.-'3%$/%,&.*/.-'3%@3$$%A#.,8%NXC8 3$*/%)-%2.-:$0&<%-$064$0%F6/%'3%)(%*)-1
84')75645=<J'!<JJ8B<6545
E)-):$-./)3'3% ,.&2.-'3% $/% ,&.*/.-'3% 0'31
3$2'*./.% @,)-):$-./)3'3% ,6*4/./.% ,.&1
2.-'3% $/% ,&.*/.-'3C% '3% .% +$*)0$-2./)3'3
7'/#% .*% .6/)3)2.&% 0)2'*.*/% '*#$-'1
/.*4$% ,.//$-*% 4#.-.4/$-'=$0% F<% 32.&&9
-$&./'?$&<%6*'()-2%&$3')*3%@M'+8%WU1NC%/#./
'*'/'.&&<%.,,$.-% )*% /#$%,.&23% .*0% 3)&$38
[6F3$56$*/&<9% &$3')*3% 3,-$.0% /)% '*?)&?$
)/#$-%,.-/3%)(%/#$%F)0<9%'*4&60'*+%/#$%261
4)63% 2$2F-.*$3% .*0% *)*J36*1$I,)3$0
3'/$38%"#$%,.&2.-%.*0%,&.*/.-%&$3')*3%.-$
+$*$-.&&<% 2)-$% #<,$-:$-./)/'49% .*0% /#$
4#.-.4/$-'3/'4% &)*+'/60'*.&% (6--)7% .&)*+
/#'3%-'0+$%2.<%F$%56'/$%,-)*)6*4$0%@M'+8
WU1WC8% "<,'4.&&<% /#$% &$3')*3% .,,$.-% '* 78.9:$-#I<# #A78'AK'4N8'KAA4'<6'5'H5@
06-'*+% .0)&$34$*4$% )-% $.-&<% .06&/#))0 4<864'P<4N'HA=AR8=54AJ<J'H57B5=<J'84'H75645@
.*0%.-$%F'&./$-.&%.*0%0'3/-'F6/$0%3<22$/1 =<J'I<JJ8B<6545;'.N8'=<I?8'56I'K>==AP'5=8
;;; -'4.&&<8% E)-):$-./)3'3% ,.&2.-'3 $/% ,&.*/.1 O785=79'J886;
O-.&%-$/'*)'03%#.?$%F$$*%3#)7*%/)%+'?$
/#$% 2)3/% -$,-)064'F&$% -$36&/39% 7'/#% -$1
064/')*%'*%/#$%3'=$%.*0%/#'4:*$33%)(%$I1
/$*3'?$% &$3')*39% .&/#)6+#% /#$% 0'3$.3$
/<,'4.&&<% -$46-3% .(/$-% /#$'-% 0'34)*/'*6.1
/')*8% g'?$*% /#$% .33)4'./')*% 7'/#% 2.&'+1
*.*4<9% 4&)3$-% 0'3$.3$% 36-?$'&&.*4$% .*0% .
&)7$-%/#-$3#)&0%()-%F'),3<%)(%363,'4')63
&$3')*3%2.<%F$%7.--.*/$0%'*%4.3$3%)(%+'1
.*/% ,)-):$-./)3$3% .*0% &'*$.-% &$3')*39
.*0%'*%'226*)36,,-$33$0%'*0'?'06.&38
1$M%#&'+-!')%$G-$#"#
"#$%,)-):$-./)3$3%.-$%+$*$-.&&<%4#-)*'4
.*0%,-)+-$33'?$9%7'/#%&$3')*3%'*4-$.3'*+
78.9:$-#I<6 .N8'OA=6A<I'75B8775'5=<J8J'K=AB'56'<6I86454<A6'AK'4N8'8H<I8=B<J'56I'8S486IJ'5J'5'4N<6 '*%3'=$%.*0%*62F$-%7'/#%/'2$8%"<,'4.&&<9
OA7>B6'4N=A>?NA>4'4N8'J4=54>B'OA=68>B;'.N8'>6I8=79<6?'?=56>75='7598='<J'5CJ864'A='=8I>O8I; /#'3% ,-)4$33% )446-3% )?$-% 0$4.0$3% '*% ,)1
-):$-./)3'3%)(%S'F$&&'%F6/%2.<%F$%-.,'0
2.&% /#'4:*$33% '*% )/#$-% .-$.3% )(% /#$% &$1 ,-$3$*/8% D'*$.-% ,)-):$-./)3'3% 2.<% F$ '*%_[HE9%,.-/'46&.-&<%.(/$-%36*%$I,)36-$8
3')*8% "#$% $,'0$-2'3% '*% /#$% 4$*/-.& 4&'*'4.&&<% 4)*(63$0% 7'/#% )/#$-% &'*$.-% &$1 L*%4.3$3%)(%'226*)4)2,-)2'3$9%\64/61
,)-/')*% )(% ,)-):$-./)3'3% 2.<% F$% *)-1 3')*39%364#%.3%&'*$.-%'*\.22./)-<%?$--61 ./')*3%'*%3$?$-'/<%2.<%,.-.&&$&%/#$%3/./$
2.&9%#<,$-,&.3/'49%)-%./-),#'48%H&/#)6+# 4)63%$,'0$-2.&%*$?639%'*4)*/'*$*/'.%,'+1 )(% '226*)4)2,$/$*4$9% .*0% /#$-$% .-$
4#.-.4/$-'3/'4% )(% ,)-):$-./)3'39% /#$% 4)-1 2$*/'%@3/.+$%LLC9%.*0%&'4#$*%,&.*639%*)*$ -$,)-/3% )(% -$2'33')*% .(/$-% -$2)?.&% )(
*)'0%&.2$&&.%'3%*)/%,./#)+*)2)*'4% .*0 )(%7#'4#%#.3%.%4)-*)'0%&.2$&&.8 ,-'2.-<% 2.&'+*.*4<8VU% "#$% 0'3$.3$% '3
2.<% .&3)% F$% ()6*0% '*% )/#$-% 4)*0'/')*39 +$*$-.&&<% 4)*3'0$-$0% .% F$*'+*% ,-)4$33Z
364#% .3% ?'-.&% 7.-/39% 3)2$% '4#/#<)3$39 #)7$?$-9% 2.&'+*.*/% 0$+$*$-./')*% 2.<
.*0%*$?)'0%#<,$-:$-./)3$38 .%&+.*&-. )446-8%S.&'+*.*4<%'3%/#)6+#/%/)%.-'3$%'*
D$3')*3% )(% ,)-):$-./)3'3% .-$% 4#-)*'49 !% ,$-4$*/% /)% GG% ,$-4$*/% )(% '*0'?'06.&39
3&)7&<% ,-)+-$33'?$9% .*0% -$&./'?$&< .&/#)6+#%/#$3$%;+6-$3%.-$%&':$&<%)?$-$31
!"((&%&-."+,'!"+G-$#"# .3<2,/)2./'49% .&/#)6+#% '*/$*3$% ,-6-'1 /'2./$08%[56.2)63%4$&&%4.-4'*)2.%'3%/#$
"#$% 4&.33'4% &$3')*3% )(% ,)-):$-./)3'3% .-$ /63% #.3% F$$*% -$,)-/$08NT% L*/$-?$*/')*% '3 2)3/% (-$56$*/&<% .33)4'./$0% /62)-% .*0
4&'*'4.&&<%0'3/'*4/'?$9%.*0%/#$%0'.+*)3'3%'3 636.&&<% 6**$4$33.-<9% .*0% 0'3$.3$% 36-1 2.<% F$% '*?.3'?$8% c)7$*% 0'3$.3$% .*0
636.&&<% 4&'*'4.&&<% .,,.-$*/8% H/<,'4.&% &$1 ?$'&&.*4$% '3% 3/.*0.-08% L(% /#$% &$3')*3% .-$ F.3.&% 4$&&% 4.-4'*)2.% #.?$% .&3)% F$$*% -$1
3')*39% #)7$?$-9% 2.<% -$56'-$% 0'(($-$*/'.1 ,-)F&$2./'4% )-% 4)32$/'4.&&<% 6*.44$,/1 ,)-/$08% [,)*/.*$)63% -$3)&6/')*% )(% &$1
/')*% @c)I% WU1QC8% H% 4)-*)'0% &.2$&&.% 2.< .F&$9% #)7$?$-9% /-$./2$*/% 7'/#% ,)/$*/ 3')*3% #.3% F$$*% -$,)-/$09% .&/#)6+#% '/% '3
F$% ()6*0% '*% .4/'*'4% :$-./)3$3% F6/% '*% .41 /),'4.&%3/$-)'039%:$-./)&</'439%/),'4.&%-$/1 $I4$,/')*.&&<%-.-$8W!
/'*'4% :$-./)3'3% '3% 0'3/'*+6'3#$0% F<% /#$ '*)'039% /),'4.&% W1\6)-)6-.4'&9WU% '2'1
,-$3$*4$%)(%4</)&)+'4%./<,'.8%l$--64.%?6&1 56'2)0%W%,$-4$*/9%4.&4',)/-')&9WG%.*/#-.1
+.-'3%)(/$*%3#)73%2)6*03%)(%,.-.:$-./)1 &'*9WQ% 4-<)/#$-.,<9WV% 4.-F)*% 0')I'0$
/&l'%&(&%&-1&#
3'3% /#./% .-$% 3)2$/'2$3% '0$*/'4.&% /)% 4)-1 &.3$-9WN% ,6&3$0% 0<$% &.3$-9WW% )-% *$)0<1 .N8'K>77'=8K8=86O8'7<J4'KA='577'ON5H48=J'
*)'0%&.2$&&.$9%F6/%:)'&)4</)3'3%'3%636.&&< 2'62h<//-'621.&62'*621+.-*$/% &.3$- <J'5L5<75C78'54'PPP;I<?Bc;OAB;
2.<% F$% 4)*3'0$-$0% @c)I% WU1VC8% "-$./1
#./&+3(* 2$*/% )6/4)2$3% .-$% ?.-'.F&$% .*0% /-$./1 G8 D'*% jf% $/% .&h% A)$I'3/$*4$% )(% /#-$$% ?.-'1
2$*/3%.-$%,))-&<%3/.*0.-0'=$08%HF&./'?$ .*/3% )(% ,)-):$-./)3'3% 7'/#% 26&/',&$
0+EE()(%*+$H&0+$Q%2,+,&2E&42)2N()$*2,+, 356.2)63% 4$&&% 4.-4'*)2.3% .-'3'*+% (-)2
/$4#*'56$39% 364#% .3% 46-$//.+$9% $I4'3')*9 &$3')*3% )(% +'.*/% #<,$-:$-./)/'4% ,)-)1
TPDAT8^$4-T$M8PWM .*0% 0$-2.F-.3')*9W`% #.?$% .&3)% F$$* :$-./)3'38 B1 J9'1 4#(61 @%'+(&7-1 a%!%'%7-
!"#$%&'()*+ 63$0% 7'/#% ?.-'.F&$% 0$+-$$3% )(% 3644$338 "%h`QG9%QUU`
G=56>7AB5'566>75=8
.<685'OA=HA=<J
+O4<6<O'R8=54AJ<J #./&+3(,
E<=57'P5=4J .)($*#(%*&E2)&42)2N()$*2,+,
,"-#'.)/
JPR8DAT- M9:.8DAT MUMJ$V8D
&75J4AJ<J'H8=KA=56J
(<=J4'7<68 )NA4AH=A48O4<A6 1=9A4N8=5H9
,<ON86'H756>J
^@(7>A=A>=5O<7
GA74V'J96I=AB8
#8OA6I'7<68 157O<HA4=<A7 1$_'75J8='L5HA=<V54<A6 $=57'=84<6A<IJ
T8W$A: "B<\><BAI
,"-#'.)/ .AH<O57'OA=4<OAJ48=A<IJ
,<685='<6h5BB54A=9'L8==>OA>J'8H<I8=B57' .AH<O57'=84<6A<IJ
68L>J .N<=I'7<68 !8=B5C=5J<A6 #>=?<O57'8SO<J<A6
"6OA64<6864<5'H<?B864<'WJ45?8'""X -8AI9B<>BD944=<>B@
,<ON86'H756>J 57>B<6>B@?5=684'75J8=
"ON4N9AJ<J'7<685=<J'O<=O>Bh8S5 G=86V'=59
;;#
GG8 Y6% D|% $/% .&h% A)*;-2./')*% .*0% -$;*$1 3)2$% GQ5QN8G1QN8Q8% A'1 B1 @%'+(&7- NG8 {#.*+%{f%$/%.&h%A)*+$*'/.&%(.4'.&%&'*$.-
2$*/%)(%.%+$*$/'4%&)463%()-%0'33$2'*./$0 #'*hQ`G9%QUUV ,)-):$-./)3'38%?-"!1JS,1@%'+(&7- &%hV`G9
36,$-;4'.&%.4/'*'4%,)-):$-./)3'3%@_[HEGC QX8 f$--.*=%E%$/%.&h%f'+#%'*4'0$*4$%)(%,)-)1 QUUW
./% GQ5QV8Q1QN8G8% A'1B1 @%'+(&7- #)%hTTT9 :$-./)3'3% '*% -$*.&% /-.*3,&.*/% -$4','$*/38 N!8 M&.*.+.*% P% $/% .&h% M.2'&'.&% 4-.*')3<*)31
QUUN A'1B1@%'+(&7- #&$hG!`9%GTT! /)3'39% .*.&% .*)2.&'$39% .*0% ,)-):$-./)1
GW8 Y$'%[A%$/%.&h%L0$*/';4./')*%)(%.%&)463%()- VG8 S.6F$4%B%$/%.&h%A)22)*%3:'*%4.*4$-3%'* 3'3h%AHE%3<*0-)2$8%B1K%61I%!%& &)h!`V9
,)-):$-./)3'3% ,.&2.-'3% $/% ,&.*/.-'3% 0'31 ,)-):$-./)3'38 A'1 B1 @%'+(&7- #)"hGVXT9 GTTX
3$2'*./.%/)%.%`8T14S%-$+')*%./%4#-)2)1 QUUW
;;6
!"#$%&'( !"#$%!&%#'$('&)"!&%*+,'+-!'
! !&%*+,.&)"!&%*+,'/$0&#"$-'+-!'
1&#"/2,+%'+-!'32,,$2#'!"#$%!&%#
1$8:')023*?% )*+% >:*&023*.% #)5$% -$$*% +2.( 3:0$1% 5$1<% +$*.$% 4')=:$% -31+$12*8% 0#$
/0+)4&%'56 &$1*$+A% "#$% )*028$*2&% $42034$.% 2*% +2>>$1( /$/-1)*$?% )*+% )*% 2**$1% '$..% +$*.$
$*0% ):032//:*$% -'2.0$12*8% .62*% +2.$).$. 4')=:$%0#)0%2*0$1072*$.%720#%6$1)02*%2*(
#)5$%-$$*%&)1$>:''<%/)44$+%)*+?%03%+)0$? 0$1/$+2)0$%E')/$*0.A
#$%&'()*+,*-&, /:0)023*.% 2*% )0% '$).0% H!% +2>>$1$*0% 8$*$.
#)5$% -$$*% .#37*% 03% :*+$1'2$% #$120)-'$
#$%&'()*+./'()*+, +2.31+$1.% 3>% $42+$1/)'% 31% $42+$1/)'( 3IA<B7?I<9E'/B9:9<D7:IJ9DIA8'
+$1/)'% )+#$.23*% 2*% #:/)*.% )*+% /2&$A AH'!7G?AGA?7G
012'3%1- L314#3'382&?% /3'$&:')1% )*+% >:*&023*)'
).4$&0.% 3>% 0#$.$% )+#$.23*% .01:&0:1$.% )1$ "#$% /3'$&:')1% &3/43*$*0.% 3>% 0#$% 5)12(
,7789'3:;<=87:.4;>7:?98 +$'2*$)0$+%2*%0#2.%&#)40$1A 3:.% +$./3.3/)'% .:-.01:&0:1$.% #)5$
-$$*% -23&#$/2&)''<% &#)1)&0$12F$+% )*+
@AB8'%C'#D98E7F
&'3*$+%N.$$% W28A%JH(HDOAS%"#$.$% 4130$2*.
&)"!&%*+,'/$0&#"$- >)''% 2*03% 0#1$$% /)B31% 8$*$% >)/2'2$.[
"#$% &$''(&$''% )*+% &$'',-).$/$*0% /$/( 4')62*.% N$A8A?% +$./34')62*O?% )1/)+2''3
2ED:9GD:;<D;:7'AH'!7G?AGA?7G
-1)*$%)+#$.23*%2*%0#$%$42+$1/2.%41352+$. 4130$2*.%N$A8A?%4')638'3-2*%)*+%4')634#2(
0#$% .62*% 720#% 20.% 1$.2.0)*&$% )8)2*.0% $*52( M$./3.3/$.% N)'.3% &)''$+% !"#$%"&' "() '2*.O?% )*+% +$./3.3/)'% &)+#$12*.% N+$.(
13*/$*0)'%2*9:$*&$.;%$42+$1/)'%2*0$8120< *"&+&,-&.O% )1$% 0#$% /)B31% &$''% )+#$.23* /38'$2*.%)*+%+$./3&3''2*.OA%\')62*.%)*+
2.%1$=:21$+%>31%4130$&023*%3>%0#$%$*021$ B:*&023*% 3>% $420#$'2)'% 02..:$.;% #37$5$1? )1/)+2''3%4130$2*.%)1$%2*%0#$%4')=:$?%)*+
318)*2./%)8)2*.0%/$&#)*2&)'?%4#<.2&)'?%31 0#$<%)1$%)'.3%>3:*+%2*%/<3&)1+2:/%)*+ +$./3.3/)'% &)+#$12*.% )1$% 01)*./$/(
/2&13-2)'%*3@)$A%"#$%/)B31%&$'':')1%.01:&( )%>$7%30#$1%02..:$.AH,P%Q30%3*'<%+3%0#$< -1)*$% 4130$2*.% 7#3.$% $@01)&$'':')1
0:1$.% 2*53'5$+% )1$% 0#$% +$./3.3/$.% )0 .$15$%).%)%.310%3>%.430%7$'+%3>%0#$%6$1)0( )/2*3(0$1/2*2%&3/412.$%0#$%+$./38'$)A
&$''(&$''% B:*&023*.% 2*% 0#$% $42+$1/2.% )*+ 2*3&<0$.% -:0% 0#$<% )'.3% )*% 2*0$1/$( "#$% /)B31% 2**$1% 4')=:$% &3/43*$*0% 2.
0#$% #$/2+$./3.3/$,-).$/$*0% /$/( +2)0$% E')/$*0.% N6$1)02*% 2*% 0#$% &).$% 3> (&.!/1%"23,?% 7#2&#% $@2.0.% 2*% 073% ]QK
-1)*$%)+#$.23*%&3/4'$@$.%)*+%1$')0$+ $42+$1/2.% )*+% /:&3:.% /$/-1)*$.O% 03 .4'2&$% 5)12)*0.?% +$./34')62*% R% )*+% RRAU?!
.01:&0:1$.% )0% 0#$% $42+$1/)'(+$1/)' 0#$% &$''% .:1>)&$A% R*% .$152*8% 0#$.$% >:*&( M$./34')62*% 2.% 4)10% 3>% 0#$% 4')62*% 8$*$
B:*&023*A%C'01).01:&0:1)''<?%0#$%#$/2+$.( 023*.?% 0#$<% >31/% )% 0#1$$(+2/$*.23*)' >)/2'<?^%7#2&#%2*&':+$.%-:''3:.%4$/4#2(
/3.3/$% &'3.$'<% 1$.$/-'$.% 3*$(#)'>% 3> .&)>>3'+2*8%3>%0#$%2*0$1/$+2)0$%E')/$*0. 832+% )*028$*% H% )*+% 4'$&02*?% 4')=:$% 413(
0#$%+$./3.3/$;%#37$5$1?%)0%0#$%/3'$&:( 0#)0% )1$% .01$0&#$+% >13/% 0#$% *:&'$)1% $*( 0$2*.%3>%0#$%#$/2+$./3.3/$?%).%7$''%).
')1%'$5$'?%0#$.$%073%.01:&0:1$.%)1$%+2.02*&0A 5$'34$%03%0#$%&$''%.:1>)&$AS%"#2.%.&)>>3'+( $*534')62*% )*+% 4$124')62*?% 7#3.$% >:*&(
D30#% 1$41$.$*0% .4$&2E&)''<% 318)*2F$+% ).( 2*8% 2.% &1202&)'% 03% .0)-2'2F$% $42+$1/)' 023*.% 2*% 0#$% +$./3.3/$% )1$% *30% ).% <$0
.$/-'2$.% 3>% 2*01)&$'':')1% )*+% 01)*./$/( .01:&0:1$%2*%0#$%>)&$%3>%$@0$1*)'%01):/)? 7$''% +$E*$+A% _2/2')1% 03% 30#$1% +$./3(
-1)*$%/3'$&:'$.?%7#2&#%3*%3*$%#)*+%)*( )*+% 20.% &3'')4.$% 1$.:'0.% 2*% &<03'<.2.% 3> .3/)'% &3/43*$*0.?% +$./34')62*% 2.% )
% &<03.6$'$0)'% E')/$*0.% 03% 0#$% &$'' 6$1)02*3&<0$.%N.$$%T#)4.A%SU%)*+%VIOA /3+:')1%4130$2*?%720#%+2>>$1$*0%/3+:'$.
4')./)%/$/-1)*$%)*+%3*%0#$%30#$1%#)*+ C'01).01:&0:1)'% &13..(.$&023*% 3>% 0#$ >:'E''2*8% +2>>$1$*0% >:*&023*.A% "#$% &$*01)'
0#$% 4')./)% /$/-1)*$% 03% $@01)&$'':')1 +$./3.3/$% .#37.% )% .<//$012&% .01:&( 4)10% 3>% 3*$% +$./34')62*% /3'$&:'$% &32'.
.01:&0:1$.?% 2A$A?% )*30#$1% &$''% 31% 0#$% $@( 0:1$% &3*.2.02*8% 3>% 073% )443.2*8% +$*.$ )13:*+%0#$%&$*01)'%4)10%3>%)*30#$1%03%>31/
01)&$'':')1% /)012@A% G:1% 6*37'$+8$% 3> 4')=:$.% 2*.2+$% 0#$% /$/-1)*$.% 0#)0% )1$ )% 13+('26$% &$*0$1A% "#$% &)1-3@<(0$1/2*:.
0#$% +$./3.3/)'?%#$/2+$./3.3/)'?%)*+ 0#$/.$'5$.%.$4)1)0$+%-<%)4413@2/)0$'< -2*+.% 03% 6$1)02*% E')/$*0.?HI% )*+% 0#$
-).$/$*0% /$/-1)*$% /3'$&:'$.% #).% $@( PI% */% NW28A% JH(HKOAJ% "#2.% 2*0$1&$'':')1 )/2*3% 0$1/2*:.% -2*+.% 03% 4')638'3-2*AHH
4)*+$+% +1).02&)''<% 2*% 0#$% ').0% HI% 03% HJ &$*0$1% #).% -$$*% &)''$+% 0#$% (&.!/0%&" M$./34')62*?% 0#$1$>31$?% 41352+$.% 0#$
<$)1.%+:$%03%0#$%81$)0%437$1%3>%-30#%/3( N>13/% X1$$6?% Y+$./3.3/)'% 8':$ZO?% -$( /)B31%'2*6%-$07$$*%0#$%6$1)02*%E')/$*0.
'$&:')1% 8$*$02&.% )*+% 4130$3/2&.A% K>0$1 &):.$%20%2.%0#3:8#0%03%41352+$%0#$%)+#$( )*+%0#$%+$./3.3/)'%4')=:$A
.3/$%3>%0#$%4130$2*.%7$1$%2*202)''<%2+$*02( .23*% 0#)0% 6$$4.% &$''.% 038$0#$1% )0% 0#2. 4%"2/0%/53,%2.%0#$%.$&3*+%/)B31%4130$2*
E$+% ).% ):03)*028$*.% 2*% 4$/4#28:.% )*+ B:*&023*AV% R*% #28#% 1$.3':023*?% 0#$1$% 2.% ) 2*% +$./3.3/)'% 4')=:$.AH`% K% /$/-$1% 3>
4$/4#2832+?% )% /:'020:+$% 3>% /3'$&:'$. 0#2*%$'$&013*%+$*.$%/2+'2*$%2*%0#$%&$*0$1 0#$% )1/)+2''3% 8$*$% >)/2'<% 0#)0% )'.3% 2*(
#)5$%*37%-$$*%&#)1)&0$12F$+%)0%-30#%413( 3>%0#$%+$./38'$)A%"#$%+$*.$%4')=:$%2*( &':+$.%4')634#2'2*.?HP%20%2.%)%/3+:')1%413(
0$2*%)*+%8$*$%'$5$'.?%)*+%0#$21%$@41$..23*? .2+$% 0#$% &$''% )&0:)''<% 2.% >31/$+% 3>% )* 0$2*% 720#% 1$4$)02*8% #3/3'383:.% :*20.A
!!"
!"#$%&'()* *+,,-*.$*/(0*123%4567&88*!"9#4:&0;<*=:2>*!8&2?*(0%0*@"%*)0%9;*"@*A;0>
&)"!&%*+,'+-!'
&)"!&%*+,.
!&%*+,'
/$0&#"$-
+4'+'L,+-/&'
!7G?AGA?7GM'B7?I>7G?AGA?7GM'98>'
DB7'7NI>7:?9E'O9G7?78D'?7?O:987'9:7' < =
N:API>7:G'AH'7NI>7:?9E'98>'7NI>7:?9E. 56789#,:;.; &E7<D:A8'?I<:AG<ANI<'I?9K7'X<Y'98>'GI?NEIT7>'G<B7?9DI<'>I9K:9?'X=Y'AH'9'>7G?AGA?7
>7:?9E'<AB7GIA8C X8AD'>:9Z8'DA'G<9E7YC'>K'['>7G?AKE79U'>?'['>78G7'?I>EI87U'>N'['>7G?ANE9=I8U'>G<'['>7G?A<AEEI8GU'>GK
4B7F':7N:7G78D'>IGDI8<D'?AE7<;E9:'9>B7. ['>7G?AKE7I8U'I>N'['I887:'>78G7'NE9W;7U'=H'['=7:9DI8'TE9?78DGU'A>N'['A;D7:'>78G7'NE9W;7U'NK'['NE9=A.
GIA8'<A?NE7Q7GC KEAOI8U'N=N'['NE9=ANBIEI8GU'N?'['NE9G?9'?7?O:987C'X&E7<D:A8'?I<:AK:9NB';G7>'ZIDB'N7:?IGGIA8'H:A?
4B7'?9RA:'<A?NA878DG'AH'>7G?AGA?7G' V9DBE778'L:778'98>'ZIDB'N7:?IGGIA8'AH'&EG7PI7:M'9>AND7>'H:A?'\I8'4M'L:778'V@S'%7K;E9DIA8'AH'>7G?AGA?7
O7EA8K'DA'DB:77'?9RA:'K787'H9?IEI7GS'DB7' 9GG7?OEF'98>'9>B7GIA8C'!"#$%&'"((&)"*"(+,'-$+(';:S]]5M'^__`CY
NE9=I8GM'9:?9>IEEA'N:AD7I8GM'98>'>7G?A.
GA?9E'<9>B7:I8GC
8'3-2*%7).%&3(41$&2420)0$+%-$&):.$%3>%20. .4$&2E&% +2.012-:023*.A`H?`S,`V% "#$.$% +$.(
4B7'B7?I>7G?AGA?9E'<A?NA878DG'<A?. -2*+2*8%03%0#$.$%+$./38'$2*.A%a)123:.%+3( /3.3/)'%&)+#$12*.%4')<%)%/)B31%13'$%2*
N:IG7'NE9=I8'BA?AEAK;7GM'I8D7K:I8GM'98>' /)2*.% 3>% 4')638'3-2*% /3+:')0$% 20.% -2*+( 41352+2*8%&$''%)+#$.23*%2*%0#$%$42+$1/2.
<AEE9K78A;G'D:98G?7?O:987'N:AD7I8GC 2*8%03%+$./38'$2*.%)*+%+$./3&3''2*.AHJ,HU )*+%/:&3:.%/$/-1)*$.A%_2/2')1%03%0#$
+EE'O9G7?78D'?7?O:987G'<A8D9I8'<AEE9K78' G0#$1% +3/)2*.% -2*+% 03% +$./34')62*? 30#$1% +$./3.3/)'% &3/43*$*0.?% +$.(
"1M'E9?I8I8GM'8I>AK78GM'98>'N7:E7<98C 0#:.% '2*62*8% +$./38'$2*.% )*+% +$./3&3'( /3.3/)'% 8'<&34130$2*.% )1$% /3+:')1
(;8<DIA89E'GN7<IT<IDF'AH'O9G7?78D'?7?. '2*.% 03% +$./34')62*AHH% 4%"2/1*3%3,.?% )++2( 720#% +2>>$1$*0% 4)10.% 3>% 0#$% /3'$&:'$.
O:987G'IG'N:API>7>'OF'9>>IDIA89E'DIGG;7. 023*)'%4')62*%4130$2*.%2*%0#$%+$./3.3/$? 41352+2*8%+2>>$1$*0%>:*&023*.A%"#$21%&<(
GN7<IT<'KEF<AN:AD7I8GC -2*+% 5)123:.% +$./3.3/)'% &3/43*$*0.? 034')./2&% 0)2'.% -2*+% 4')638'3-2*% )*+
)*+%/)<%)2+%2*%&':.0$12*8%)*+%.0)-2'2F2*8 30#$1% )1/)+2''3% 4130$2*.% )*+% 0#$21% $@(
"8'9>>IDIA8'DA'DB7I:'GD:;<D;:9E':AE7GM'>7G.
0#$/AH!?H^ 01)&$'':')1% +3/)2*.% 41352+$% )+#$.23*
?AGA?7GM'B7?I>7G?AGA?7GM'98>'DB7'
W2*)''<?% +$./38'$2*.% )*+% +$./3&3'( 720#% +$./3.3/)'% &)+#$12*.% $@41$..$+
7NI>7:?9E'O9G7?78D'?7?O:987'9:7'OIA.
'2*.%41352+$%0#$%'2*6%-$07$$*%0#$%$@01)( 3*%)443.2*8%&$''.A
EAKI<9EEF'9<DIP7'I8'<7EE;E9:'GIK89EI8KC
&$'':')1%+$./38'$)%)*+%0#$% 2*01)&$'':')1
*;D9DIA8G'I8'DB7'K787G'78<A>I8K'DB7' 4')=:$A`I,``% "#$.$% 8'<&34130$2*.% )1$% 2*
9OAP7'N:AD7I8G'<9;G7'B7:7>ID9:F'G=I8'>IG. 0#$% &)+#$12*% .:4$18$*$% >)/2'<?% )*+? (;8<DIA8'98>')9DBAEAKF'
79G7GU':98KI8K'H:A?'BFNAD:I<BAGIG'98>' .2/2')1%03%30#$1%/$/-$1.%3>%0#2.%>)/2'<?
=7:9DA>7:?9'DA'7NI>7:?AEFGIG'O;EEAG9'98>' AH'!7G?AGA?7G
)1$% 0#3:8#0% 03% /$+2)0$% &)'&2:/(+$4$*(
VI8>E7:'GF8>:A?7C +$*0% )+#$.23*A% R*% #:/)*.?% 0#$1$% )1$ K.% +$.&12-$+% 2*% D23&#$/2&)'% T#)1)&0$1(
):AD7I8'<A?NA878DG'AH'>7G?AGA?7GM' >3:1% 8$*$.% $*&3+2*8% +$./38'$2*.% H?% `? 2F)023*%3>%M$./3.3/$.?%0#$%/)B31%>:*&(
B7?I>7G?AGA?7GM'98>'7NI>7:?9E'O9G7. P?% )*+% SA% "#$% +$./38'$2*% P% 8$*$% 7). 023*%3>%+$./3.3/$.%2.%0#3:8#0%03%-$%&$''
?78D'?7?O:987'9:7'D9:K7D7>'I8'9;DAI?. )&0:)''<%+2.&35$1$+%)*+%&'3*$+%-$&):.$ )+#$.23*A% K*2/)'% /3+$'.?% ):032//:*$
?;87'G=I8'OEIGD7:I8K'>IG79G7G'AH'DB7' 20% 7).% 0#$% )*028$*% 2*% 4$/4#28:.% 5:'( .62*%+2.$).$.?%)*+%0#$%-'2.0$1.%&):.$+%-<
N7?NBIK;G'A:'N7?NBIKAI>'K:A;N'98>'I8' 8)12.% N.$$% T#)4A% J`OA`P% "#$.$% 2.3>31/. $@>3'2)025$% 03@2*% >13/% .0)4#<'3&3&&2
7NI>7:?AEFGIG'O;EEAG9'9<W;IGID9C #)5$% +2>>$1$*0% 02..:$% +2.012-:023*.% 720# &3*E1/% 0#2.% >:*&023*% N")-'$% JH(H;% .$$
+$./38'$2*.%H%)*+%P%-$2*8%41$+3/2*)*0 T#)4.A% J`% )*+% HU!OA`U% W31% $@)/4'$?% )
2*% $42+$1/2.% )*+% /:&3:.% /$/-1)*$.A /3:.$% 8$*$02&)''<% $*82*$$1$+% 720#% )
"#$% E1.0% 2*+2&)023*% 3>% 4')638'3-2*% -2*+( b20#2*% 0#$.$% 02..:$.?% 0#$% +$./38'$2*. 0)18$0$+%+$'$023*%3>%+$./38'$2*%P%+$5$'(
2*8% 03% )% +$./3.3/)'% 4130$2*% N+$./3( )'.3% #)5$% :*2=:$% +2.012-:023*.?% 7#2&# 34.%/:&3:.%/$/-1)*$%)*+%.62*%-'2.0$1.
8'$2*O%&)/$%>13/%.0:+2$.%720#%4$/4#28:. #).% /)B31% 2/4'2&)023*.% >31% :*+$1.0)*+( >13/% '3..% 3>% &$''% )+#$.23*% 2*% 0#$% +$$4
N.$$%T#)4A%J`O%.$1)%2*%7#2&#%4')638'3-2* 2*8% 0#$% 4)0#34#<.23'38<% 3>% 4$/4#28:. $42+$1/2.?% .2/2')1% 03% 4$/4#28:.% 5:'(
7).% &3(41$&2420)0$+% 720#% +$./38'$2*% -< N.$$%T#)4A%J`OA%_2/2')1'<?%0#$1$%)1$%>3:1 8)12.% 4)02$*0.A`!% \)02$*0.% 720#% 4$/4#2(
-30#% 4$/4#28:.% 5:'8)12.% )*+% >3'2)&$:. 8$*$.% $*&3+2*8% +$./3&3''2*.% R?% RR?% RRR? 8:.% 5:'8)12.% )*+% >3'2)&$:.% +$5$'34% '3..
.$1)AHS%6&.!/0%&3,'7%)*+%H%)1$%0#$%4$/4#2( )*+%Ra?%7#2&#%2*%)++2023*%#)5$%)'0$1*)( 3>%&$''%)+#$.23*%)*+%1$.:'0)*0%-'2.0$1.%2*
8:.% 5:'8)12.% )*+% >3'2)&$:.% )*028$*.?% 1$( 025$%]QK%.4'2&$%5)12)*0.?%)*+?%.2/2')1%03 0#$% $42+$1/2.%+:$%03% )*02(+$./38'$2*%P
.4$&025$'<?%0#)0%0#$%.$1)%-3:*+?%)*+%4')63( +$./38'$2*.?% $)&#% #)5$% :*2=:$% 02..:$ )*+%H%)*02-3+2$.?%1$.4$&025$'<%NW28A%JH(`OA
!!4
!"#$%&'()(
!"#$%#%$&'()&*+",#(-.(/0-.(!-#"&#"
!1/23/321(43253616) 78)3922861()7:;1) ;161)94()7:;1)
!7G?AGA?9E'<9>B7:I8G !7G?AKE7I8'69 )( #))V'X+!Y
!7G?AKE7I8'a )1M')-)
!7G?AKE7I8'` )(MO')1O +%'BFNAD:I<BAGIG
!7G?A<AEEI8G #)!`b
!7G?AGA?9E'NE9W;7'N:AD7I8G' !7G?ANE9=I8 )-) #))V'X+!YU'=7:9DA>7:?9M'ZAAEEF'B9I:M'E7HD'P78D:I<;E9:'<9:>IA.
?FAN9DBF'X+%Y
$DB7:'NE9=I8G< )-)
)E9=AKEAOI8 -9QAG'>IG79G7S'=7:9DA>7:?9M'ZAAEEF'B9I:M':IKBD'P78D:I<;E9:'
<9:>IA?FAN9DBF'X+%Y
)E9=ANBIEI8G )E9=ANBIEI8'6S'G=I8'H:9KIEIDF'98>'7<DA>7:?9E'>FGNE9GI9'X+%Y
#D:9D;?'<A:87;?'>7G?AGA?7' /A:87A>7G?AGI8 0FNAD:I<BAGIG'GI?NE7Q'AH'DB7'G<9EN'X+!Y`b
N:AD7I8
9+EGA'D9:K7D7>'OF'7QHAEI9DIP7'DAQI8'I8'O;EEA;G'I?N7DIKA'98>'GD9NBFEA<A<<9E'G<9E>7>.G=I8'GF8>:A?7C
O+8DI.>7G?AKE7I8'6'I8'DB7G7'G7:9'<:AGG.:79<D'ZIDB'>7G?AKE7I8'`C
<"8<E;>I8K'78PANE9=I8M'N7:INE9=I8M'98>'O;EEA;G'N7?NBIKAI>'98DIK78'6C
+!'['9;DAGA?9E'>A?I898DU'+%'['9;DAGA?9E':7<7GGIP7U')('['N7?NBIK;G'HAEI9<7;G'XG77'/B9NC'5^YU')-)'['N9:987ANE9GDI<'N7?NBIK;G'XG77'/B9NC'5aYU')1'['N7?NBIK;G'
P;EK9:IG'XG77'/B9NC'5^YU'#)!'['G;O<A:879E'N;GD;E9:'>7:?9DAGIG'XG77'/B9NC'a`YU'#))V'['GD:I9D7'N9E?ANE98D9:'=7:9DA>7:?9'XG77'/B9NC'`cYC
c@>3'2)025$% 03@2*.% >13/% .0)4#<'3&3&&2 +:&023*APH% "#$% 31282*)'% /$/-$1% 3>% 0#$ &'2*2&)'% >$)0:1$.?% .:88$.02*8% 0#)0% 0#$<
.4$&2E&)''<%&'$)5$%+$./38'$2*%H%03%&):.$ )1/)+2''3%>)/2'<?%8+!"(3%%/?%7).%+2.&35( /)<% .#)1$% &$10)2*% E*)'% &3//3*% 4)0#3(
-'2.0$1.%>13/%'3..%3>%&$''%)+#$.23*%2*%0#$ $1$+% 2*% M13.34#2')% ).% )% /$/-$1% 3>% 0#$ 4#<.23'382&%4)0#7)<.A
.:4$1E&2)'% $42+$1/2.% 2*% -:''3:.% 2/4$( b*0% .28*)'2*8% 4)0#7)<A% K*30#$1% /$/( "#$% $@)&0% 4)0#34#<.23'382&% /$&#)(
0283% )*+% .0)4#<'3&3&&)'% .&)'+$+% .62* -$1% 3>% 0#$% >)/2'<?% (&)0$*2*?% 2.% -30#% ) *2./.% 1$')02*8% 0#$% /:0)023*.% 2*% 0#$.$
.<*+13/$%N.$$%T#)4A%HU!OA`^ &3/43*$*0% 3>% 0#$% )+#$1$*.% B:*&023*? 8$*$02&%+2.$).$.%03%0#$%4#$*30<4$.%#)5$
L31$% 1$&$*0% +)0)% .:88$.0.% 0#)0% 0#$ )*30#$1% &$''% )+#$.23*% B:*&023*?% )*+ *30% -$$*% 7$''% 7316$+% 3:0A% d37$5$1?
>:*&023*% 3>% +$./3.3/$.% 2.% /:&#% /31$ 4')<.% )% &1202&)'% 13'$% 2*% b*0% .28*)'2*8% 2* 0#$.$% +2.$).$.% &'$)1'<% 2*+2&)0$% 0#$% 2/(
&3/4'2&)0$+% 0#)*% .2/4'$% &$''% )+#$.23*A $420#$'2)'% &$''.A% (T)0$*2*?% 2*% 0#2.% ')0$1 4310)*&$%3>%+$./3.3/$.%)*+%0#$21%&3/(
W31%$@)/4'$?%+$./3.3/)'%/3'$&:'$.%)1$ >:*&023*?%01)*.'3&)0$.%03%0#$%*:&'$:.%)*+ 43*$*0.%-$<3*+%B:.0%&$''%)+#$.23*A
2/4310)*0%2*%+$5$'34/$*0%)*+%+2>>$1$*( &3/4'$@$.% 720#% 30#$1% /3'$&:'$.% 03
02)023*API?PH% K% 0)18$0$+% 8$*$02&% +$'$023* >31/%)%01)*.&124023*%>)&031A%\')638'3-2*?
3>%+$./38'$2*%`%&):.$.%$)1'<%$/-1<3*2& )%/$/-$1%3>%0#2.%>)/2'<?%/)<%)'.3%.$15$ &)"!&%*+,.!&%*+,'/$0&#"$-
'$0#)'20<%2*%/2&$?%)*+%41$5$*0.%413'2>$1)( )%.2/2')1%+:)'%13'$%N)+#$.23*%)*+%.28*)'(
023*%3>%$/-1<3*2&%.0$/%&$''.AP`%R*)4413( 2*8O?%-:0%$@)&0'<%#37%1$/)2*.%03%-$%+$( #D:;<D;:9E'98>'(;8<DIA89E'
412)0$%$@41$..23*%3>%+$./38'$2*%P%2*%0#$ 0$1/2*$+A% _2/2')1'<?% 4')634#2'2*.% /)< /B9:9<D7:IGDI<G'AH'
:44$1% $42+$1/2.% 1$.:'0.% 2*% #<4$1413'2>( '3&)'2F$%03%-30#%+$./3.3/$.%)*+%01)*.(
39G7?78D'*7?O:987G
$1)023*?% )-*31/)'% +2>>$1$*02)023*?% )*+ '3&)0$% 03% 0#$% *:&'$:.?% .:88$.02*8% 0#$<
-)112$1%+$>$&0.APP?PS%L2&$%720#%)%0)18$0$+ )'.3% /)<% -$% 2*53'5$+% 2*% .28*)'2*8% )*+ D).$/$*0% /$/-1)*$.% :*+$1'2$% $420#$'2)'
+$'$023*% 3>% +$./3&3''2*% R% )'.3% #)5$% )-( 01)*.&124023*APV,P! )*+% $*+30#$'2)'% &$''.% )*+% .$4)1)0$% 0#$/
*31/)'% +2>>$1$*02)023*% )*+% )% +$>$&025$ "#$.$% &3/4'$@202$.% 3>% 0#$% >:*&023*% 3> >13/% $)&#% 30#$1% 31% >13/% 0#$% )+B)&$*0
$42+$1/)'% -)112$1APJ% R*% )++2023*?% 0#$% )1( +$./3.3/)'% &3/43*$*0.% /)<% )&&3:*0 .013/)A%K*30#$1%>31/%3>%-).$/$*0%/$/(
/)+2''3%&3/43*$*0.%3>%0#$%+$./3.3/$ >31%0#$%5)123:.%+2.$).$%/)*2>$.0)023*.%3> -1)*$% .:113:*+.% ./330#% /:.&'$% 31% *$15$
/)<% /$+2)0$% 31% /3+:')0$% .28*)'% 01)*.( 4)02$*0.% 720#% /:0)023*.% 2*% +$./3.3/$ &$''.A% "#$% 4#<.23'382&% >:*&023*.% 3>% -).$(
8$*$.%N.$$%")-'$%JH(HOAP^?SI%M$./38'$2*%H /$*0%/$/-1)*$.%)1$%+25$1.$[%R*%0#$%5)12(
)*+% +$./34')62*% /:0)023*.% )1$% )..3&2( 3:.% 318)*% .<.0$/.% 0#$<% 41352+$% .:44310
)0$+% 720#% .012)0$% 4)'/)1% 4')*0)1% 6$1)03( >31%+2>>$1$*02)0$+%&$''.?%/)2*0)2*%02..:$%)1(
+$1/)ASH?S`% M$./38'$2*% S% /:0)023*.% )1$ $&0:1$% +:12*8% 1$/3+$'2*8% )*+% 1$4)21?
>3:*+%2*%):03.3/)'%1$&$..25$%#<43012( )*+?% 2*% .3/$% &).$.?% )&=:21$% .4$&2)'2F$+
.2.ASP% K:03.3/)'% 1$&$..25$% +$./34')62* >:*&023*.?%2*&':+2*8%0#$%)-2'20<%03%.$15$%).
/:0)023*.% &)*% &):.$% *30% 3*'<% 6$1)03( .$'$&025$% 4$1/$)-2'20<% -)112$1.% N$A8A?% 0#$
+$1/)%-:0%733''<%#)21%)*+%'$>0%5$*012&( 8'3/$1:')1% -).$/$*0% /$/-1)*$% 31% 0#$
:')1% &)1+23/<34)0#<ASS% \')638'3-2* -'33+(-1)2*% -)112$1O% 31% )&=:21$% .013*8% )+(
/:0)023*.% 1$.:'0% 2*% Q)@3.% +2.$).$? #$.25$%4134$102$.?%'26$%0#$%-).$/$*0%/$/(
6$1)03+$1/)?%733''<%#)21?%)*+%)11#<0#( -1)*$%)0%0#$%+$1/)'($42+$1/)'%B:*&023*?%31
/38$*2&% 128#0% 5$*012&:')1% &)1+23/<34)( 0#)0% .:113:*+2*8% ./330#% /:.&'$% &$''.?
0#<ASJ%\')634#2'2*%H%/:0)023*.%1$.:'0%2*%) 7#2&#% 41352+$% 0#$% 02..:$.% 1$.2.0)*&$
56789#,:;.? "8>I:7<D' I??;8Ad;A:7G<78<7 +2.$).$%0#)0%2*&':+$.%.62*%>1)82'20<%)*+%$&( )8)2*.0%.#$)12*8%>31&$.A%K''%3>%0#$.$%&#)1)&(
GD9I8I8K' AH' B;?98' 7NI>7:?IG' ZIDB' N7?NBIK;G 03+$1/)'%+<.4').2)ASV%R*0$1$.02*8'<?%.3/$ 0$12.02&.%3>% -).$/$*0% /$/-1)*$.% )1$%)'.3
G7:;?' DB9D' <A8D9I8G' 9;DA98DIOA>I7G' DA' >7G?A. 3>%0#$.$%8$*$02&%+2.$).$.%3>%+2>>$1$*0%+$.( :.$+%+:12*8% +$5$'34/$*0%)*+%+2>>$1$*02)(
KE7I8'aC /3.3/)'% &3/43*$*0.% #)5$% 35$1')442*8 023*%3>%/:'02&$'':')1%318)*2./.%ND3@%JH(HOA
!!>
#*+&'()( 8')*+.A% "#$% +$1/)'($42+$1/)'% B:*&023*
2&<%*(=>.?,-%.#(%@(A&#"$".,(2"$B*&."# &)*% -$% +252+$+% 2*03% 0#1$$% +2.02*&0% F3*$.A
"#$% E1.0% F3*$% &3*0)2*.% 0#$% 6$1)02*% E')(
#<9HHAE>'HA:'DIGG;7'A:K98IJ9DIA8'98>'D7?NE9D7'HA:'DIGG;7':7N9I:C /$*0(#$/2+$./3.3/$% &3/4'$@% 3>% 0#$
#7E7<DIP7'N7:?79OIEIDF'O9::I7:GC'4B7':789E'O9G7?78D'?7?O:987G'G7:P7'HA:'DB7';ED:9TED:9DIA8'AH' -).)'%&$''.%)*+%$@0$*+.%0#13:8#%0#$%')/2*)
NE9G?9M'98>'ADB7:'O9G7?78D'?7?O:987G'9EGA'>7?A8GD:9D7'G7E7<DIP7'TED:9DIA8C ':&2+)% 03% 0#$% ')/2*)% +$*.)A% "#$% 4')./)
)BFGI<9E'O9::I7:G'O7DZ778'>IHH7:78D'DFN7G'AH'<7EEG'A:'O7DZ778'<7EEG'98>'DB7I:';8>7:EFI8K'7QD:9<7EE;. /$/-1)*$.%3>%0#$%-).)'%&$''.%2*%0#2.%1$823*
E9:'?9D:IQC' &3*0)2*% *:/$13:.% $'$&013*(+$*.$% 4')0$.
(I:?EF'EI8='98'7NIDB7EI;?'DA'IDG';8>7:EFI8K'?9D:IQ'A:'DA'98ADB7:'<7EE'E9F7:'98>'N:API>7'NAE9:IDFC 6*37*% ).% #$/2+$./3.3/$.A% "#$% 2*01)(
%7K;E9D7'<7EE;E9:'H;8<DIA8GC &$'':')1% )1$&0:1$% )*+% 318)*2F)023*% 3>
0#$% -).)'% &$''.% )1$% /)2*0)2*$+% -<% 6$1)02*
2*0$1/$+2)0$%E')/$*0.?%U% 03%HI% */%2*%+2(
C'01).01:&0:1)''<?% -).$/$*0% /$/( 0)*0% +:12*8% +$5$'34/$*0% )*+% /314#3( )/$0$1%0#)0%&3:1.$%0#13:8#%0#$%-).)'%&$''.
-1)*$.% /3.0% 3>0$*% )44$)1% ).% 012')/2*)1 8$*$.2.%3>%)''%02..:$.A )*+% 2*.$10% 2*03% 0#$% +$./3.3/$.% )*+
.01:&0:1$.?% &3*.2.02*8% 3>% )% &$*01)'% $'$&( D).$/$*0% /$/-1)*$.% )'.3% 41352+$ #$/2+$./3.3/$.A%c@0$1*)'%03%0#$%4')./)
013*(+$*.$%1$823*?%6*37*%).%0#$%%"!3," 4#<.2&)'% .$4)1)023*% -$07$$*% $420#$'2) /$/-1)*$%2.%)%`J(%03%JI(*/,72+$%')/2*)
(&,."?% )+B)&$*0% 3*% $20#$1% .2+$% 03% )*% )4( )*+%0#$21%:*+$1'<2*8%$@01)&$'':')1%/)012( ':&2+)%0#)0%&3*0)2*.%)*ĸ*8%E')/$*0.?%`
4)1$*0'<% '$..(+$*.$% )1$)?% 6*37*% ).% 0#$ &$.A% "#2.% -)112$1%2.%$.4$&2)''<% 2/4310)*0 03% !% */% 2*% +2)/$0$1?% 31282*)02*8% 2*% 0#$
%"!3,"' %$#3("' 31%%"!3,"' +"+"A% "#$%')/2*) 2*%0#$%&3*0)2*/$*0%3>%0:/31.A%b20#%0#$ 4')./)% /$/-1)*$% )*+% 2*.$102*8% 2*03% 0#$
':&2+)% +21$&0'<% )-:0.% 0#$% 4')./)% /$/( $@&$4023*%3>%&$10)2*%&$''.%3>%0#$%2//:*$ ')/2*)% +$*.)A% "#$% )*ĸ*8% E')/$*0.
-1)*$.% 3>% 0#$% )+#$1$*0% &$''.A% "#$% 1$')( .<.0$/?% *3*(/)'28*)*0% &$''.% .$'+3/ &)*%-$%.$$*%0#13:8#3:0%0#$%')/2*)%':&2+)
025$%.2F$%3>%$)&#%3>%0#$.$%1$823*.%5)12$. &13..%)%-).$/$*0%/$/-1)*$A%D$*28*%0:( -:0%0#$<%)1$%&3*&$*01)0$+%2*%0#$%1$823*.%3>
)/3*8% -).$/$*0% /$/-1)*$.% 3>% +2>>$1( /31%&$''.?%7#$*%4')&$+%3*%2.3')0$+%)/( 0#$% #$/2+$./3.3/$.A% C'01).01:&0:1)''<?
$*0%02..:$.?%)/3*8%0#$% -).$/$*0% /$/( *2302&%-).$/$*0%/$/-1)*$.?%)1$%:*)-'$ 0#$% )*ĸ*8% E')/$*0.% )44$)1% 03% .$&:1$
-1)*$.% 3>% 0#$% .)/$% 02..:$% )0% +2>>$1$*0 03%&13..%0#2.%-)112$1%2*%52013A%R*%&3*01).0? 0#$%$420#$'2)'%&$''.%03%0#$%')/2*)%+$*.)A
)8$.?%)*+%).%)%&3*.$=:$*&$%3>%+2.$).$.A /)'28*)*0% &$''.% -2*+% 0#$% -).$/$*0 "#$%$@2.0$*&$%3>%0#$%')/2*)%':&2+)%2*
W31% $@)/4'$?% 0#$% 012')/2*)1% 8'3/$1:')1 /$/-1)*$?% 1$823*)''<% +2.1:40% 20.% .01:&( 5253%#).%-$$*%=:$.023*$+A%b#$*%0#$%:'(
-).$/$*0% /$/-1)*$% 2*% #:/)*.% 5)12$. 0:1$% )0% 0#$% .20$% 3>% 0#$% )00)&#/$*0?% )*+ 01).01:&0:1$%3>%0#$%-).$/$*0%/$/-1)*$
>13/% `SI% */% 03% PSI% */% 2*% 72+0#? /281)0$% 0#13:8#% 0#$% 1:40:1$A% e)/2*2*. 2.% $5)':)0$+% )>0$1% #28#(41$..:1$% 41$.$1(
7#$1$).% 0#$% -2')/2*)1% -).$/$*0% /$/( )*+% 2*0$812*.% /$+2)0$% 0#$% 0:/31(&$'' 5)023*%0$&#*2=:$.?%0#$%')/2*)%+$*.)%)4(
-1)*$% 3>% 0#$% +$1/)'($42+$1/)'% B:*&023* -2*+2*8?% )*+% 0#$% -).$/$*0% /$/-1)*$
/$).:1$.% JI% */% 03% ^I% */A% "#2.% :'01)( +2..3':023*% 2.% &)0)'<F$+% -<% /$0)''3413(
.01:&0:1$% +$/3*.01)0$.% 0#)0% -).$/$*0 0$).$.%413+:&$+%-<% 0#$%0:/31%&$''A%"#$
/$/-1)*$.% .$15$% ).% .:-.01)0$.% >31% 0#$ )-.$*&$% 3>% +2.02*8:2.#)-'$% -).$/$*0
)00)&#/$*0%3>%&$''.%)*+%E@%0#$21%43')120<A /$/-1)*$.%2*%0:/31%-234.2$.%#).%-$$*
"#$21%&3*02*:20<%0#13:8#3:0%0#$%5)123:. )*% 2*+2&)031% 3>% /)'28*)*&<?% )*+% 0#$1$
318)*%.<.0$/.%.0)-2'2F$.%0#$%$.0)-'2.#$+ )44$)1.% 03% -$% )% #28#% &311$')023*% -$(
02..:$% 312$*0)023*.% )*+% 41352+$.% )% 0$/( 07$$*% /$0).0).2.% )*+% -).$/$*0% /$/( <
4')0$% >31% 31+$1'<% 1$4)21% )>0$1% 01):/)02& -1)*$% +$81)+)023*A% "#$.$% 3-.$15)023*.
2*B:1<A% L)B31% +2.1:4023*.% 2*% 0#$% -).$( :*+$1'2*$% 0#$% 2/4310)*&$% 3>% 0#$% -).)'
/$*0%/$/-1)*$%1$.:'0%2*%0#$%>31/)023* ')/2*)%).%)*%3-.0)&'$%03%&$''%/281)023*A
3>%.&)1%02..:$%)*+%0#$%'3..%3>%>:*&023*%2* D<% -2*+2*8% -23'382&)''<% )&025$% .28*)'(
0#)0%)1$)A 2*8% /3'$&:'$.?% -).$/$*0% /$/-1)*$.
M2>>$1$*0% -).$/$*0% /$/-1)*$.% &3*( 1$8:')0$% )% /:'020:+$% 3>% -23'382&% $5$*0.A
0)2*% -30#% &3//3*% )*+% :*2=:$% &3/43( "#$%&3*.020:$*0%4130$38'<&)*.%&)*%-2*+ =
*$*0.A% K''% .#)1$% )% -).2&% *$07316% .01:&( 81370#%>)&031.%0#)0%&)*%-$%1$'$).$+%>13/
56789#,:;.A <B'2ED:9GD:;<D;:7'AH'DB7'B;?98
0:1$% 03% 7#2&#% .4$&2E&% /)&13/3'$&:'$. 0#$% &3/4'$@$.% -<% 02..:$% 4130$2*).$.A
#)5$% -$$*% )44$*+$+A% "#$.$% /3'$&:'$. "#:.?%0#$%-).$/$*0%/$/-1)*$.%)1$%43( >7:?9E.7NI>7:?9E'R;8<DIA8'9G'PIG;9EIJ7>'OF'D:98G.
)1$%1$.43*.2-'$%>31%0#$%.4$&2)'2F$+%.01:&( 0$*0%1$8:')031.%3>%&$''%)+#$.23*%)*+%/2( ?IGGIA8'7E7<D:A8'?I<:AG<ANF'9HD7:'GD98>9:>'TQ9DIA8
0:1$.% )*+% >:*&023*.% 3>% +2>>$1$*0% -).$( 81)023*?%&<03.6$'$03*%)*+%&$''%>31/?%&$'' 98>' 7?O7>>I8K' N:ADA<AEGC' 9H' [' 98<BA:I8K' TE9.
/$*0% /$/-1)*$.A% "#$% -).2&% &3*.020:( +252.23*?% +2>>$1$*02)023*% )*+% 43')12F)( ?78DU' +(' [' 98<BA:I8K' TO:IEU' +)' [' 98<BA:I8K
$*0.% 3>% 0#$.$% .01:&0:1$.% )1$% &3'')8$*% Ra? 023*?%)*+%)43403.2.AS^ NE9W;7U'3*'['O9G7?78D'?7?O:987U'0>'['B7?I.
')/2*2*.?% *2+38$*.?% )*+% 4130$38'<&)*. >7G?AGA?7U',>'['E9?I89'>78G9U',E'['E9?I89'E;.
3>%0#$%4$1'$&)*%0<4$?%7#2&#%)''%)1$%#28#'< <I>9C'X39:'['^__'8?CY'=B'2ED:9GD:;<D;:7'AH'DB7'B;.
&3*.$15$+?% )'0#3:8#% 0#$% 2.3>31/.?% 0#$ 2,4%+#4%2/42%&'$('40&'
!&%*+,.&)"!&%*+,'@2-/4"$- ?98' >7:?9E.7NI>7:?9E' R;8<DIA8' OF' D:98G?IGGIA8
*:/-$1%3>%0#$%43'<4$402+$%.:-:*20.?%)*+ 7E7<D:A8' ?I<:AG<ANF' HAEEAZI8K' N:ADA<AEG' ;GI8K
0#$21% 2*+252+:)'% .01:&0:1$.% 5)1<% )/3*8 "#$% +$1/)'($42+$1/)'% B:*&023*% 2.% )*% $@(
BIKB.N:7GG;:7'TQ9DIA8'98>'7?O7>>I8K'D7<B8IW;7GC
.4$&2$.ASU?S!%"#$%*$)1'<%:-2=:203:.%+2.012( )/4'$%3>%)%#28#'<%&3/4'$@%>31/%3>%-).$(
-AD7' DB7' >78G7' <B9:9<D7:' AH' OADB' DB7' O9G7?78D
-:023*% 3>% #$4)1)*% .:'>)0$% 4130$38'<&)*. /$*0%/$/-1)*$?JI?JH%7#2&#%:*+$1'2$.%0#$
2*% )''% -).$/$*0% /$/-1)*$.% .:88$.0. -).)'%&$''.%)*+%$@0$*+.%2*03%0#$%:44$1%')<( ?7?O:987'98>'DB7'G;OR9<78D'N9NIEE9:F'>7:?IGC'+8.
0#)0%0#$.$%.$15$%).%.$'$&025$%4$1/$)-2'20< $1.%3>%0#$%+$1/2.%NW28A%JH(PKOA%"#2.%-).$( <BA:I8K'TE9?78DGM'98<BA:I8K'TO:IEGM'98>'98<BA:I8K
-)112$1.% 2*% /:'024'$% '3&)023*.?% 2*&':+2*8 /$*0% /$/-1)*$% 2.% &3*02*:3:.% )'3*8% 0#$ NE9W;7G'9:7'8AD'>IGDI8K;IGB9OE7C'X3ADB'NBADAG';G7>
0#$% 62+*$<% )*+% 0#$% -'33+(-1)2*% -)112$1A $42+$1/2.%)*+%.62*%)44$*+)8$.?%2*&':+2*8 ZIDB'N7:?IGGIA8'H:A?'!A;KE9G'%C'V7787M'*!M'#B:I.
C'01)E'01)023*% /)<% -$% $.4$&2)''<% 2/431( .7$)0%8')*+.?%#)21%>3''2&'$.?%)*+%.$-)&$3:. 87:G'0AGNID9EM')A:DE98>M'$:7KA8CY
!:@
4$)1.% 2*02/)0$'<% )..3&2)0$+% 720#% 0#$ 2*8% )0% 0#$% ')/2*)% +$*.)% '334% -)&6% 2*03 #*+&'(),
$420#$'2)'%&$''%.:1>)&$AJI?J`%b#$*%0#$%+$1( 0#$% ')/2*)% +$*.)% 2*% )% #31.$.#3$('26$
8B-C>-,%>#(4%$D%.".,#(%@(
/)'($42+$1/)'% B:*&023*%2.%.2/2')1'<%41$( /)**$1;% 30#$1.% 2*.$10% 0#$21% 3443.20$
A&#"$".,(2"$B*&."#
4)1$+?% *3% +2.02*&0% ')/2*)% ':&2+)% 2.% .$$* $*+.% 2*03% )/314#3:.()44$)12*8% .01:&(
N.$$% W28A% JH(PDOA% "#2.% .:88$.0.% 0#)0% 0#$ 0:1$.?% 0$1/$+%",#*/+3,0' 1%":$&.AJJ% "#$.$ /AEE9K78'"1
')/2*)%':&2+)%/)<%1$.:'0%>13/%.#12*6)8$ .01:&0:1$.% )1$% -$'2$5$+% 03% -$% 2*+$4$*( ,9?I8I8G
3>%0#$%&$''%.:1>)&$%)7)<%>13/%0#$%')/2*) +$*0% Y2.')*+.Z% 3>% $'$&013*(+$*.$% /)0$( -I>AK78G
+$*.)% +:$% 03% +$#<+1)023*A% "#$% )44$)1( 12)'?%)'0#3:8#%.3/$%&3*0135$1.<%$@2.0.%2* )7:E7<98
)*&$% 3>% )*ĸ*8% E')/$*0.% .4)**2*8 0#$%'20$1)0:1$AJV%K*ĸ*8%E-12'.%)1$%412(
0#$% ')/2*)% ':&2+)% /)<% 0#$*% 1$.:'0% >13/ /)12'<%)881$8)0$.%3>%&3'')8$*%aRRAJU
0#$%E1/%)00)&#/$*0%3>%&3*.020:$*0.%3>%0#$ ":-:')1% E-12''2*(&3*0)2*2*8% /2&13( 0#$% +$1/2.% 03% 0#$% $42+$1/2.% 0#13:8#% )
')/2*)% +$*.)% )0% 0#$% #$/2+$./3.3/$ E-12'.?%HI%*/%03%H`%*/%2*%+2)/$0$1?%)1$ &3*02*:3:.% .<.0$/% 3>% .01:&0:1)'% $'$(
0#)0% 2.% .:-.$=:$*0'<% 4:''$+% >13/% 0#$ )'.3%'3&)'2F$+%2*%0#$%.:-')/2*)%+$*.)%1$( /$*0.;% )*+% NSO% /3+2E&)023*% 3>% &$'':')1
')/2*)%+$*.)%-<%.#12*6)8$A%G0#$1%&3/( 823*A%"#$.$%)1$%$').02&(1$')0$+%E-$1.?%-$( >:*&023*.?% .:&#% ).% 318)*2F)023*% 3>% 0#$
43*$*0.%0#)0%)1$%)'.3%028#0'<%E@$+%03%0#$ &):.$%$').02&%&3/43*$*0.%3>%0#$% +$1/2. &<03.6$'$03*?% +2>>$1$*02)023*?% 31% 1$.&:$
6$1)02*3&<0$% 4')./)% /$/-1)*$?% $20#$1 )1$% >31/$+% >13/% /2&13E-12'')1% )*+ >13/% )4340302&% .28*)'2*8% 52)% 3:0.2+$(2*
)0%0#$%#$/2+$./3.3/$.%31%)0%30#$1%.20$. )/314#3:.% &3/43*$*0.AJ!% "#$% /2&13( .28*)''2*8%/$&#)*2./.A
)'3*8% 0#$% /$/-1)*$% -$07$$*% 0#$ E-12'')1% &3/43*$*0% 2*% 0#$% 41$.$*&$% 3>
#$/2+$./3.3/$.?% /)<% .2/2')1'<% -$( )-:*+)*0% )/314#3:.% &3/43*$*0% 2.
&3/$% +2.4')&$+% 2*03% 0#$% .#12*6)8$ 6*37*% ).% 0#$% &%".-3#' 95&+A% R*% 0#$% 4)42'( 3"$/0&*"/+,'/0+%+/4&%"e+4"$-'
.4)&$A% ]$8)1+'$..% 3>% 20.% )&0:)'% 3&&:1( ')1<% +$1/2.?% 0#$% /2&13E-12'.% 2*.$10% 2*03 $('40&'3+#&*&-4'*&*3%+-&
1$*&$% 2*% 5253?% 0#$% $5)':)023*% 3>% 0#$ 0#$% -).)'% ')/2*)% 4$14$*+2&:')1% 03% 0#$
D).$/$*0% /$/-1)*$.% &3*0)2*% &3'')8$(
')/2*)% ':&2+)% -<% .0)*+)1+% $'$&013*% /2( -).$/$*0% /$/-1)*$% )*+% $@0$*+% 2*03
*3:.% )*+% *3*(&3'')8$*3:.% 8'<&34130$2*.
&13.&34<%0$&#*2=:$.%#).%)''37$+%2+$*02( 0#$%+$1/2.?%7#$1$%0#$<%81)+:)''<%/$18$
)*+% 4130$38'<&)*.A% "#$% :*:.:)'% )/2*3
E&)023*%3>%.4$&2E&%.01:&0:1$.%0#)0%73:'+ 720#% 0#$% $').02&% E-$1.% 03% >31/% )% 4'$@:.
)&2+.%#<+13@<413'2*$%)*+%#<+13@<'<.2*$
30#$172.$% #)5$% -$$*% +2>E&:'0% 03% +$0$&0A 4)1)''$'% 03% 0#$% +$1/)'($42+$1/)'% B:*&(
)1$% >3:*+% )'/3.0% $@&':.25$'<% 2*% &3'(
R*% )++2023*?% 0#$% /314#3'382&% 0$1/% %"!) 023*A%"#$.$%073%$').02&%&3/43*$*0.%)4(
')8$*.;J^% 0#$% #<+13@<413'2*$% &3*0$*0
3,"'%$#3("%1$/)2*.%41)&02&)'%2*%0#$%.&2$*( 4$)1%03%-$%&3*02*:3:.%720#%0#$%$').02&%E(
.:88$.0.% 0#)0% &3'')8$*.% )&&3:*0% >31% SI
02E&% &3//:*2&)023*% )*+% &3*02*:$.% 03 -$1.% 41$.$*0% +$$4% 720#2*% 0#$% 1$02&:')1
4$1&$*0% 03% VJ% 4$1&$*0% 3>% 0#$% 030)'% -).$(
-$%:.$+A +$1/2.AJ!% "#$% 81)+2$*0% 3>% )*% 2*&1$).2*8
/$*0% /$/-1)*$% 4130$2*A% K''% -).$/$*0
"#$% .$&3*+% F3*$?% 0#$% ')/2*)% +$*.)? )/314#3:.% &3/43*$*0% >13/% 0#$% -).)'
/$/-1)*$.% &3*0)2*% &3'')8$*% Ra% ).% 0#$
)44$)1.% ).% )*% $'$&013*(+$*.$% )/31( ')/2*)% 2*03% 0#$% 1$02&:')1% +$1/2.% /)<
/)B31%&3'')8$*?%')/2*2*?%*2+38$*?%)*+%0#$
4#3:.% .01:&0:1$% `I% */% 03% JI% */% 2* 1$41$.$*0% )% .<.0$/% 3>% 2*&1$).2*8'<% /)(
#$4)1)*%.:'>)0$%4130$38'<&)*%4$1'$&)*?%21(
72+0#A% "#$% +$1/)'($42+$1/)'% ')/2*) 0:1$%$').02&%E-$1.A
1$.4$&025$%3>%02..:$%.3:1&$%ND3@%JH(`OA%R*
+$*.)%2.%.2/2')1%2*%)44$)1)*&$%03%)*)'3( R*%.://)1<?%0#$%:'01).01:&0:1$%3>%0#$
)++2023*?% /)*<% 30#$1% 02..:$% .4$&2E&% 8'<(
83:.%.01:&0:1$.%2*%30#$1%318)*.A%K0%#28# +$1/)'($42+$1/)'%B:*&023*%.013*8'<%.:8(
&34130$2*.%#)5$%-$$*%>3:*+%2*%-).$/$*0
/)8*2E&)023*?% 20% #).% )% 81)*:')1(E-13:. 8$.0.%0#)0%0#$%')/2*)%+$*.)%>:*&023*.%).
/$/-1)*$.?%2*&':+2*8%+2>>$1$*0%')/2*2*.?
)44$)1)*&$AJI% "#$% /)B31% /3'$&:')1 )% .01:&0:1)'% .&)>>3'+% >31% 0#$% )00)&#/$*0
E-:'2*.?%)*+%E-13*$&02*ASU,S^
&3/43*$*0.%3>%0#$%')/2*)%+$*.)%)1$%&3'( 3>%0#$%$42+$1/)'%&$''.%)0%3*$%.:1>)&$?%.$(
R*% &3*01).0% 03% 0#$% :-2=:203:.% &3/43(
')8$*% Ra?% *2+38$*($*0)&02*?% 4$1'$&)*? &:1$+%-<%)*ĸ*8%E')/$*0.%$@0$*+2*8
*$*0.% 720#2*% )''% -).$/$*0% /$/-1)*$.?
)*+%')/2*2*.?%7#2&#%)''%&)*%43'</$12F$ >13/% 0#$% ')/2*)% +$*.)% 03% 0#$% #$/2+$.(
.3/$%/3'$&:'$.%+$/3*.01)0$%)%1$.012&0$+
03%*$07316.%3>%5)12)-'$%0#2&6*$..AJP /3.3/$.A%"#$%')00$1%)'.3%.$15$%).%2*.$1(
+2.012-:023*A% T$10)2*% &3'')8$*% Ra% 2.3(
"#$% .:--).)'% ')/2*)% &3*0)2*.% /2( 023*% 432*0.% >31% 2*01)&$'':')1% 6$1)02*% E')(
>31/.?%&3'')8$*.%aRR%)*+%faRR?%31%.$5$1)'
&13E-12'')1% .01:&0:1$.A% "73% 3>% 0#$.$% )1$ /$*0.% 0#)0% >31/% .&)>>3'+2*8% >31% 0#$
')/2*2*.?% )1$% *30% :-2=:203:.A% W31% $@)/(
1$)+2'<% +2.02*8:2.#)-'$A% "#$% E1.0% .01:&( -).)'%&$''.A%G*%0#$%3443.20$%.:1>)&$?%0#$
4'$?%0#$% P%&#)2*%3>%&3'')8$*%Ra%2.%'3&)'(
0:1$?% 6*37*% ).% ",#*/+3,0' 95+3%.?% )44$)1. $@01)&$'':')1% /)012@% .:41).01:&0:1$.% 3>
2F$+% 2*% 0#$% -).$/$*0% /$/-1)*$% 3>% 0#$
).% &3*+$*.$+% E-13:.% )881$8)0$.% `I% */ 0#$% +$1/2.% )1$% E1/'<% )00)&#$+% 03% 0#$
62+*$<%)*+%':*8?%-:0%*30%2*%0#3.$%3>%0#$
03%UJ%*/% 2*% +2)/$0$1AJS%K0% #28#% 1$.3':( ')/2*)% +$*.)A%"#$%2*0$1)&023*% 3>% +2>>$1(
.62*% )*+% -'33+% 5$..$'.A% R*% &3*01).0?% &3'(
023*?%0#$<%)44$)1%03%#)5$%)%*3*4$123+2& $*0%+$1/)'%E-$1.%720#%0#$%-).)'%')/2*)
')8$*.% aRR%)*+%faRR%)1$%)..3&2)0$+% 720#
&13..(.012)0$+% -)*+2*8% 4)00$1*% N.$$% W28A )44$)1.% 03% -$% /$+2)0$+% -<% 0#$% )*(
0#$% .=:)/3:.% $420#$'2)% 3>% .62*% -:0% )1$
JH(PKOA% "#$% '$*80#% 3>% 0#$% )*ĸ*8 2*8%E-12'.A%"#$%$').02&%.<.0$/%3>%0#$%+$1(
*30% >3:*+% 2*% 8'3/$1:')1% )*+% )'5$3')1
E-12'% 2.% +2>E&:'0% 03% /$).:1$% -$&):.$% 3> /2.%2*.$10.%+21$&0'<%2*03%0#$%-).)'%')/2*)
-).$/$*0% /$/-1)*$.A% M2>>$1$*&$.% 2*
20.%1)*+3/%312$*0)023*%2*%1$')023*%03%0#$ 52)% 0#$% /2&13E-12'.A% "#:.?% 0#$% +$1/)'(
/)&13/3'$&:')1% &3/43.2023*% )1$% 1$(
4')*$%3>%0#$%.$&023*A%R*%03)+%.62*?%0#$.$ $42+$1/)'% B:*&023*% 41352+$.% )% &3*02*:(
.43*.2-'$% >31% /314#3'382&% )*+% >:*&(
.01:&0:1$.% #)5$% '$*80#.% 3>% )4413@2( 3:.% .$12$.% 3>% )00)&#/$*0.% -$07$$*% 0#$
023*)'%5)12)*&$%3>%-).$/$*0%/$/-1)*$.A
/)0$'<%!II%*/A%"#$%)*ĸ*8%E-12'.%2* 1$02&:')1%+$1/2.%)*+%0#$%&<03.6$'$03*%3>
#:/)*% .62*% )44$)1% 03% -$% .3/$7#)0 0#$% -).)'% &$''.A% "#$.$% 3-.$15)023*.
.#310$1A% "#$% $*+.% 3>% 0#$% )*ĸ*8 .:88$.0%>3:1%/)B31%>:*&023*.%>31%0#$%$42( 2OIW;IDA;G'/A?NA878DG'
E-12'.%)44$)1%'$..%028#0'<%4)&6$+?%8252*8 +$1/)'%-).$/$*0%/$/-1)*$[%NHO%)%.01:&(
AH'39G7?78D'*7?O:987G
)% .3/$7#)0% >1)<$+% )44$)1)*&$A% "#$ 0:1)'% >3:*+)023*% >31% 0#$% .$&:1$% )00)&#(
413@2/)'%$*+%2*.$10.%2*03%0#$%-).)'%')/( /$*0% )*+% 43')120<% 3>% 0#$% $42+$1/)' 0CDD<7#E,6F T3'')8$*% Ra% 2.% )% #$0$13012(
2*)?%)*+%0#$%+2.0)'%$*+%2.%2*0$81)0$+%2*03 -).)'% &$''.;% N`O% )% -)112$1% >:*&023*?% .$4)( /$1%3>%0#1$$% %&#)2*.AS!?J^%c)&#%3>%0#$.$
0#$% E-13:.% *$07316% 3>% 0#$% +$1/2.AJJ 1)02*8%0#$%&3/43*$*0.%3>%0#$%$42+$1/2. &3*0)2*.% 0#1$$% +2.02*&0% +3/)2*.% NW28A
L)*<% 3>% 0#$% )*ĸ*8% E-12'.% 31282*)0( )*+% 0#$% +$1/2.;% NPO% E1/% )00)&#/$*0% 3> JH(SKO[%0#$%Q(0$1/2*)'%&<.0$2*$(12&#%NU(_O
!:;
<
0 /
<
= 5 =
56789#,:;.! "?9K7G' AH' O9G7?78D' ?7?O:987' ?AE7<;E7G' PIG;9EIJ7>' OF' :AD9:F' GB9>AZI8KC'<B' /AE. 56789#,:;.: <B' %7N:7G78D9DIA8' AH' DB7' 87D.
E9K78'"1'?A8A?7:'98>'9'>I?7:':7G;EDI8K'H:A?'9KK:7K9DIA8'AH'/.D7:?I89E'-/.6'>A?9I8GC'=B'/AEE9K78'"1 ZA:=G'HA:?7>'OF'DB7';OIW;IDA;G'<A?NA878DG'AH'DB7
D7D:9?7:'XhGNI>7:iY'>7?A8GD:9DI8K'DB7'b.#'>A?9I8'ZIDB'DB7'HA;:'N:AD:;>I8K'?AE7<;E7G'98>'DB7I:'E9:K7'D7:. O9G7?78D' ?7?O:987GC' *A8A?7:I<' <AEE9K78' "1
?I89E'-/.6'>A?9I8GC'0B',9?I8I8'6'XE9?I8I8'666Y'?AE7<;E7GC'/B'-I>AK78'?AE7<;E7GC'#B'):A<AEE9K78'1""C X/AE."1Y'G7EH.9GG7?OE7G'I8DA'>I?7:G'98>'D7D:9?7:G
4B7'-/.6'98>'-/.^':7KIA8G'9:7'I8>I<9D7>C'5B',9?I8I8'5'XE9?I8I8'aa^Y'?AE7<;E7GC'X+EE'?I<:AK:9NBG'Z7:7 DB9D'H;:DB7:'9KK:7K9D7'I8DA'9'<A?NE7Q'E9DDI<7C',9?I.
N:API>7>'OF'!A;KE9G'%C'V7787M'*!M'#B:I87:G'0AGNID9EM')A:DE98>M'$:7KA8CY 8I8G' G7EH.NAEF?7:IJ7' I8DA' 87DZA:=GC' )7:E7<98' <98
AEIKA?7:IJ7' I8' PID:AM' 98>' DB7' KEF<AG9?I8AKEF<98
GI>7'<B9I8G'I8D7:9<D'ZIDB'DB7'/AE."1'H:9?7ZA:=C'-I.
+3/)2*?% )% &$*01)'% 0124'$(#$'2&)'% +3/)2*? W28A% JH(SKOASU?S!?J^% T35)'$*0% 2*0$1)&023*. >AK78.78D9<DI8'IG'DBA;KBD'DA'OI8>'<A?NA878DG'AH
)*+%)%T(0$1/2*)'%8'3-:')1%+3/)2*%NQT( )/3*8%U(_%1$823*.%3>%+2>>$1$*0%/3'$&:'$.
9EE'DB:77'87DZA:=G'98>'9EGA'TO;EI8GC'-I>AK78'DB7:7.
'OA% "#$% 012/$1% &3/43.2023*% 2.% +$0$1( )1$%0#$%-).2.%>31%0#$%.4$&2)'2F$+%*$07316
HA:7'NE9FG'9'<78D:9E':AE7'9G'9'GD9OIEIJ7:'AH'DB7'E9?.
/2*$+%-<%0#$%QT('%+3/)2*.?%)*+%0#$% &#)1)&0$12.02&% 3>% -).$/$*0% /$/-1)*$.
&#)2*.%)1$%'2*6$+%03%$)&#%30#$1%-<%&35)( N.$$% W28A% JH(SDOA% "#$% 2*+252+:)'% U(_% 1$( I89'>78G9'H:9?7ZA:=C'"8>IPI>;9E'?AE7<;E7G'9:7'8AD
'$*0% 2*0$1)&023*.% 0#13:8#% 0#$.$% +3( 823*.%35$1')4%2*%-30#%0#$%4)1)''$'%)*+%)*( >:9Z8' DA' G<9E7C' X!:9ZI8K' ;G7>' ZIDB' N7:?IGGIA8
/)2*.AVI% "#$% 0124'$% #$'2@% 3>% &3'')8$*% Ra 024)1)''$'% +21$&023*.?% 413+:&2*8% )% &#)1)&( H:A?')7D7:'\;:<B78<AM'*!M'%AO7:D'fAA>'@AB8GA8
2.% '3*8% )*+% &3*0)2*.% .$5$1)'% .20$.% )0 0$12.02&% >3:1('$88$+% Y.42+$1Z% >31/A% "#$ *7>I<9E'#<BAAEM')IG<9D9Z9FM'-C@M'2C#C+CY'=B'%AD9:F
7#2&#% 8'<&2*$% 2.% *30% 41$.$*0% 2*% $5$1< QT('% +3/)2*.% )0% 0#$% $*+% 3>% $)&#% '$8% 3> GB9>AZI8K' I?9K7' AH' 9' W;I<=.H:77J7M' >77N.7D<B
0#21+% 43.2023*AJ^% "#$.$% +2.&3*02*:202$. 0#$%.42+$1%2*0$1)&0%720#%0#$%QT('%+3/)2* :7NEI<9' AH' /AE."1' NAEF?7:GC'4B7' :7NEI<9' GBAZG' 98
1$.:'0% 2*% 2*&1$).$+% 9$@2-2'20<% 2*% 0#$% &3'( 3>%0#$%)+B)&$*0%)881$8)0$.%N.$$%W28A%JH(SDOA 7QD78GIP7M' O:98<BI8K' 98>' 989GDA?AGI8K' 87DZA:=
')8$*%Ra%#$'2@?%-:0%)'.3%1$*+$1%20%.:.&$4( K..3&2)023*% 2.% .0)-2'2F$+% -<% &35)'$*0 ZIDB' A<<9GIA89E' KEAO;E9:' GD:;<D;:7G' X.//+01".2 YM
02-'$%03%)%5)12$0<%3>%4130$).$.A -3*+.A%"#$.$%$*+(03($*+%2*0$1)&023*.%1$( ZBI<B'<98'O7'PIG;9EIJ7>'9G'9'?A>7E'HA:'DB7'GD:;<.
"#$%&#)1)&0$12.02&%E-12'%.01:&0:1$%3>%0#$ .:'0%2*%)*%$@0$*+$+%073(+2/$*.23*)'%*$0(
D;:7'AH'DB7'E9?I89'>78G9C'X)BADA'N:API>7>'OF'4AGBI.
2*0$1.0202)'% &3'')8$*.% 1$.:'0.% >13/% )881$( 7316%0#)0%2.%0#$%-).2.%3>%-).$/$*0%/$/(
BI=A'09F9GBIM')B!M'28IP7:GIDF'AH'4A=FAM'@9N98C'#77
8)023*%3>%/3'$&:'$.%2*%)%.0)88$1$+%)11)<? -1)*$%318)*2F)023*A
413+:&2*8% )% &13..(-)*+2*8% 4)00$1*% 2* "#$% #28#% 9$@2-2'20<% 3>% 0#$% -).$/$*0 9EGA'-9=9J9DA'V'7D'9ES'L7E9DIA8'AH'E78G'<9NG;E7'DFN7
$'$&013*% /2&13.&34$% )>0$1% )4413412)0$ /$/-1)*$%*$07316%.01:&0:1$%/)6$.%0#$ "1' <AEE9K78' GAE;DIA8' 9D' 9' 87;D:9E' N0C' 3& -$+41"#
.0)2*2*8A%R*%&3*01).0?%0#$%:'01).01:&0:1$%3> 43..2-2'20<%3>%2*0$1)&023*.%720#%30#$1%&3'( 6^_SccgM'6gg]CY
0#$% ')/2*)% +$*.)% 2*+2&)0$.% *3% 4$123+2& ')8$*.%31%*3*&3'')8$*3:.%/3'$&:'$.%5$1<
&13..(.012)023*.?% .:88$.02*8% 0#)0% 0#$% )8( )001)&025$A% K*% 34$*% /$.#7316% 3>% &3'( /$&#)*2&)'% .0)-2'20<% 7#2'$% 1$0)2*2*8
81$8)0$.%3>%&3'')8$*%Ra%)1$%+2>>$1$*0A%"#$ ')8$*% Ra% 720#?% >31% $@)/4'$?% ')/2*2*.% 31 4#<.23'382&% 9$@2-2'20<A% "#$.$% 4134$102$.
.:41).01:&0:1$% 3>% &3'')8$*% Ra% #).% -$$* 4$1'$&)*?% &)*% -$% $).2'<% 52.:)'2F$+% NW28A 3>% .01$*80#% )*+% $').02&20<% 73:'+% -$% $@(
4)102)''<%$':&2+)0$+%-<%130)1<%.#)+372*8 JH(JOAS^% "#$% 2/4'2$+% 4313.20<% 3>% 0#2. 4$&0$+% >31% )% +<*)/2&% .:1>)&$?% .:&#% ).
$'$&013*% /2&13.&34<% 0#)0% 2*+2&)0$+% 0#)0 .01:&0:1$% 73:'+% 0#$*% -$% '2/20$+% -<% 0#$ 0#)0% .$$*% 2*% 0#$% $42+$1/)'(+$1/)'% B:*&(
0#$%/)B31%2*0$1)&023*.%)/3*8%&3'')8$*%Ra .2F$%3>%0#$%431$.%2*%0#$%&3'')8$*%*$07316 023*%)*+%.:113:*+2*8%-'33+%5$..$'.A
/3'$&:'$.%3&&:1%)0%0#$21%)/2*3(%)*+%&)1( )*+% -<% .01:&0:1)'% $'$/$*0.% )..3&2)0$+ T3'')8$*% Ra% /3'$&:'$.% 2*% +2>>$1$*0
-3@<'(0$1/2*)'% +3/)2*.?% )*+% -<% ')0$1)' 720#% 20A% "#2.% /3+$'% 3>% 0#$% -).$/$*0 -).$/$*0% /$/-1)*$.% &3*0)2*% 8$*$02(
)..3&2)023*% 3>% 0#$21% 0124'$% #$'2&$.% N.$$ /$/-1)*$%.01:&0:1$%)''37.%&3*.2+$1)-'$ &)''<%+2.02*&0%-:0%.01:&0:1)''<%#3/3'383:.
!:?
%&#)2*.A%"#$% H%)*+% `%&#)2*.%)1$%:-2=(
:203:.?%-:0%0#$% P? S? J?%)*+% V%&#)2*.
.#37% 1$.012&0$+% +2.012-:023*% )/3*8% 02.(
.:$.AVH% "#$% &#)2*% 318)*2F)023*% )*+% +2.(
&12/2*)031<% 2*0$1)&023*.% -$07$$*% 0#$
QT(H% +3/)2*.% 835$1*% *$07316% )..$/(
-'<% 2*% 0#$% -).$/$*0% /$/-1)*$.AVI% "73
*$07316.?%*)/$'<% H( `,&3*0)2*2*8%)*+
P( S( J,&3*0)2*2*8 *$07316.?%$@2.0%2*
0#$% 8'3/$1:')1% -).$/$*0% /$/-1)*$A
_/330#% /:.&'$% -).$/$*0% /$/-1)*$.
#)5$% )*% H( `( J( V,&3*0)2*2*8% *$0(
7316% 2*% )++2023*% 03% 0#$% &')..2&% H( `
*$07316A%R*%0#$%.62*?%0#$% H( `,&3*0)2*(
2*8% &3'')8$*% Ra% *$07316% +3/2*)0$.
720#2*% 0#$% +$1/)'($42+$1/)'% B:*&023*?
-:0 H( `( J( V,&3*0)2*2*8%*$07316%2.
)'.3% '26$'<% 03% -$% 41$.$*0AV`% ")6$*% 03(
8$0#$1?% 0#$% .2@% &#)2*.% 3>% &3'')8$*% Ra% )1$
+2.012-:0$+%2*%0#1$$%/)B31%*$07316.?% H( 56789#,:;.G +'G<B7?9DI<':7N:7G78D9DIA8'AH'E9?I8I8'?AE7<;E7GC'&9<B'E9?I8I8'IG'9'B7D7:AD:I?7:'AH
`? P( S( J?% )*+% H( `( J( V?% 7#3.$ 98 M'9' M'98>'9' '<B9I8C'$8'DB7'E7HDM'DB7'<E9GGI<'N:ADADFN7'E9?I8I8'666'<A8GIGDI8K'AH' 6 6 6'<B9I8G
&#)2*% &3/43.2023*% 2.% +$0$1/2*$+% -<% 0#$ IG'GBAZ8C'4B7'-.D7:?I89E'GBA:D'9:?'AH'79<B'<B9I8'IG'H:77M'DB7'EA8K'/.D7:?I8I'HAE>'DA'9'<AIE7>.<AIE'98>
QT('%+3/)2*.A
HA:?'DB7'EA8K'9:?C'4B7'>IGD9E'/.D7:?I8;G'AH'DB7' '<B9I8'<A8D9I8G'TP7'KEAO;E9:',L'>A?9I8GM'ZBI<B
"#$ PNRaO%&#)2*%2.%0#$%)*028$*%1$&38(
B9:OA:'DB7'I8D7K:I8.OI8>I8K'GID7C',9?I8I8'aa^M'DB7'N:7PIA;G'E9?I8I8'5M'7QIGDG'I8'DZA'HA:?GM'a+a^'98>
*2F$+% -<% 0#$% &21&:')02*8% ):03)*02-3+2$.
2*%0#$%X33+4).0:1$%.<*+13/$?VH%)*+%):( a3a^C'4B7G7':7N:7G78D'GNEI<7'P9:I98DG'AH'DB7' '<B9I8M'DB7'GBA:D'P9:I98D'IG'a+'98>'DB7'hH;EE'E78KDBi
03)*02-3+2$.% +21$&0$+% )8)2*.0% 0#$% QT(' <B9I8'a3C'4B7'-.D7:?I8I'AH'DB7' a'98>' ^'<B9I8G'9:7'N:AD7AEFDI<9EEF'N:A<7GG7>'DA'FI7E>'?9D;:7'E9?I.
+3/)2*% 3>% 0#$% JNRaO% &3'')8$*% &#)2* 8I8'aa^C
7$1$%1$4310$+%2*%)%&).$%720#%.:-($42+$1(
/)'%-:''3:.% $1:4023*.% )*+% 1$*)'% 2*.:>E( &#)2*.% #)5$% -$$*% +$.28*)0$+% % N`II% 6+ H?% 720#% % &#)2*% &3/43.2023*% H H H?% 2.
&2$*&<AVP% _01:&0:1)'% )-$11)023*.% 2*% 0#$ 03%SII%6+O?% %N``I%6+O?%)*+% %NHJJ%6+%03 *37% &)''$+% %"!3,3,' ===A% "#$% /)B31% ')/2(
8$*$.% $*&3+2*8% 0#$% P? S? J?% )*+% V `II%6+O%&#)2*.?%)*+%$)&#%')/2*2*%2.%)%012( *2*% 3>% 0#$% $42+$1/)'% -).$/$*0% /$/(
&#)2*.% &):.$% +2>>$1$*0% >31/.% 3>% K'4310 /$12&%)881$8)0$%3>%3*$% ? ?%)*+% %&#)2*A -1)*$?% 0#$% 41$523:.% ')/2*2*(J?% 720#%
.<*+13/$?% )% 8$*$02&% +2.$).$% &#)1)&0$1( "#$% 012/$1.% #)5$% .$/21282+% )*+% $@( &#)2*%&3/43.2023*% P P `?%2.%*37%&)''$+
2F$+%-<%*$4#1202.%)*+%+$)>*$..AVH%]$&$*0 0$*+$+% .01:&0:1$.?% 7#2&#% )44$)1% ).% )* %"!3,3,'77>A
)*)'<.$.%3>%/3:.$%/:0)*0.%1$5$)'$+%:*( ).<//$012&% &13..% 2*% 130)1<% .#)+372*8 "#$ `%&#)2*%&3*0)2*2*8%')/2*2*.%)1$
$@4$&0$+% 4#$*30<4$.% 3>% /:0)023*.% 2* $'$&013*% /2&13.&34<% N.$$% W28A% JH(STOA 41$.$*0% 412/)12'<% 720#2*% 0#$% -).$/$*0
0#$%/3:.$%;/%< = )*+ ;/%< >%8$*$.%$*( "#$% '3*8% )1/% 3>% 0#$% &13..% 2.% )4413@2( /$/-1)*$.%3>%0#$%/:.&'$%E-$1.?%*$15$.?
&3+2*8%0#$% H%)*+% `%&#)2*.%N2A$A?%)-*31( /)0$'<%H`J%*/%2*%'$*80#;%0#$%.#310%)1/. *$:13/:.&:')1% B:*&023*?% )*+% 8'3/$1:(
/)'202$.% 3>% 0#$% 62+*$<?% 0#$% -1)2*?% )*+ )1$% 5)12)-'$A% c)&#% ')/2*2*% /3'$&:'$% 2. ':.A% L:0)023*.% 2*% 0#$% `% &#)2*% &):.$
0#$% $<$OA% \$124#$1)'% 8'3/$1:'34)0#<% 2* +252+$+% 2*03% 8'3-:')1% )*+% 13+('26$% +3( 41381$..25$% /:.&:')1% +<.0134#<% )*+% )
0#$%62+*$<?%431$*&$4#)'<?%)%1)1$%*$:13( /)2*.%0#)0%#)5$%-$$*%2*+252+:)''<%2/4'2( .28*2E&)*0% +$&1$).$% 2*% 0#$% )/3:*0% 3>
'382&%+2.$).$%&#)1)&0$12F$+%-<%+$8$*$1( &)0$+% 2*% 5)123:.% >:*&023*.?% .:&#% ).% )8( -).$/$*0% /$/-1)*$% )&&:/:')0$+% .:1(
)025$%&)5202$.%2*%0#$%-1)2*?%2*01)&$1$-1)' 81$8)023*% 720#% 20.$'>% )*+% 720#% 30#$1 13:*+2*8%/:.&'$%&$''.AVU%"#$%)-.$*&$%3>
#$/311#)8$.?% )*+% )% .4$&01:/% 3>% $<$ &3/43*$*0.% 3>% 0#$% ')/2*)% +$*.)% NW28A 0#$% -).$/$*0% /$/-1)*$% '$)+.% 03% 413(
)-*31/)'202$.%)>>$&02*8%0#$%212.?%&31*$)? JH(VO?% &$''% )00)&#/$*0% )*+% .41$)+2*8? 81$..25$%+$8$*$1)023*%3>%0#$%/:.&'$%+:$
1$02*)'%)10$123'$.?%)*+%3402&%*$15$%7$1$ *$:120$%3:081370#?%31%&$'':')1%+2>>$1$*02( 03% &$''% +$)0#A% "#$1$>31$?% 0#$% 41$+2&023*
3-.$15$+AVS?VJ% _:-.$=:$*0'<?% )% ;/%< = )023*AS^?VU%"#$%T(0$1/2*)'%eX%+3/)2*%3> 2.% 0#)0% ')/2*2*.?% )*+% -).$/$*0% /$/(
/:0)023*% 7).% 2+$*02E$+% 2*% )% #:/)* 0#$ %&#)2*?%)0%0#$%>330%3>%0#$%'3*8%)1/ -1)*$.% 2*% 8$*$1)'?% )1$% 1$=:21$+% 03% 41$(
>)/2'<%720#%./)''(5$..$'%+2.$).$?%7#2&# 3>%0#$%')/2*2*%&13..?%#)1-31.%0#$%-2*+2*8 5$*0% )43403.2.% -<% 0#$% &$''% 0<4$.% 0#$<
3>0$*% :*+$1'2$.% 2.&#$/2&% .0136$.% )*+ .20$%>31%2*0$812*.AS^?VU .:113:*+AVU% "#$% P% &#)2*% 2.% 2*53'5$+
2*01)&$1$-1)'% #$/311#)8$.AVV% R*0$1$.0( "3%+)0$?%HJ%')/2*2*%2.3>31/.%#)5$%-$$* 2*% $420#$'2)'% )+#$.23*% N.$$% c420#$'2)'(
2*8'<?% +$.420$% 0#$% :-2=:203:.% 41$.$*&$ 2+$*02E$+A% "#$.$% 1$41$.$*0% +2>>$1$*0% 012( _4$&2E&% D).$/$*0% L$/-1)*$% T3/43(
3>%0#$% H%)*+% `%&#)2*.%3>%&3'')8$*%Ra /$12&% &3/-2*)023*.% 3>% E5$% +2.02*&0% *$*0.O?% )*+% 0#$% S% )*+% J% &#)2*.% )1$
2*% -).$/$*0% /$/-1)*$.?% )-$11)023*. &#)2*.?%0#1$$% %&#)2*.%)*+%0#1$$% %&#)2*. >3:*+% 2*% )% 5)12$0<% 3>% 02..:$.% 2*&':+2*8
+2+% *30% 3&&:1% 2*% )''% -).$/$*0% /$/( 6*37*%.3%>)1A%d2.0312&)''<?%')/2*2*.%7$1$ $*+30#$'2)?% $420#$'2)?% *$:13/:.&:')1
-1)*$.?% .:88$.02*8% 5)1<2*8% 13'$.% >31 *)/$+% ).% %"!3,3,)=% 03% %"!3,3,)=??% 2*% 0#$ B:*&023*?%)*+%8'3/$1:':.AV^%e)/2*2*%JHH
&3'')8$*% Ra% 2*% +2>>$1$*0% -).$/$*0 31+$1% 3>% 0#$21% +2.&35$1<?% -:0% 0#2.% &')..2E( 2.%41$.$*0%2*%0#$%-).$/$*0%/$/-1)*$%3>
/$/-1)*$.A &)023*%#)+%8137*%=:20$%2/41)&02&)'?%720# 0#$% $42+$1/2.% )*+% 0#$% #)21% >3''2&'$.?
0#$% *$$+% 03% /$/312F$% 0#$% *:/-$1.A% K 7#$1$% 20% 2.% -$'2$5$+% 03% -$% 2*53'5$+% 2*
!"#$%$%&' e)/2*2*.%)1$%5$1<%')18$%8'<&3( *$7?%.2/4'2E$+%*3/$*&')0:1$%2.%-).$+%3* +$5$'34/$*0)'%.28*)'2*8AUI%"#$%+2.012-:(
4130$2*.%NVII%03%^JI%6+O%720#2*%0#$%')/( 0#$%&#)2*%&3/43.2023*%)*+%0#$%*:/-$1%3> 023*%3>%0#$% `%&#)2*%2.%')18$'<%1$.012&0$+
2*)%':&2+)g')/2*)%+$*.)%3>%)''%-).$/$*0 $)&# ? ?%)*+% %&#)2*%N")-'$%JH(`OAV! W31 03%0#$% *$:13/:.&:')1%B:*&023*?%-:0% 20%2.
/$/-1)*$.AS^% "#1$$% 0<4$.% 3>% .:-:*20 $@)/4'$?%0#$%&')..2&%Y413030<4$Z%')/2*2*( )'.3%>3:*+%2*%*3*/:.&'$%02..:$.%.:&#%).
!:A
i*3&63:0%/2&$%')&62*8%4$1'$&)*%$@#2-(
!"#$%&'(),
20$+%)-*31/)'202$.%2*%/)*<%02..:$.?%2*(
6"E(F&$-.-.(6%$".?'&,>*"&
&':+2*8% -).$/$*0% /$/-1)*$.?% )*+
4G796 $/-1<3*2&% '$0#)'20<A%"#$% -).$/$*0
3F!(6721 43253/9)936 61H(6721 )9//81(!9/):9A8)936 /$/-1)*$.%+$0$1231)0$+%2*%1$823*.%:*(
,9?I8I8.6 6 6 6 ,9?I8I8'666 !7P7EANI8K'7NIDB7EI9 +$1%2*&1$).$+%/$&#)*2&)'%.01$..?%.:&#%).
/<3&)1+2:/%31%.62*?%1$.:'02*8%2*%'$0#)'
,9?I8I8.^ ^ 6 6 ,9?I8I8'^66 *;G<E7M'87:P7G
&)1+2)&%)-*31/)'202$.%)*+%.62*%-'2.0$1(
,9?I8I8.a 6 ^ 6 ,9?I8I8'6^6 *FAD78>I8A;G'R;8<DIA8 2*8AUP?US%K812*%2.%)%/)B31%#$4)1)*%.:'>)0$
4130$38'<&)*%3>%*$:13/:.&:')1%B:*&(
,9?I8I8.` ^ ^ 6 ,9?I8I8'^^6 -7;:A?;G<;E9:'R;8<DIA8M'KEA?7:;E;G
023*.%)*+%1$*)'%0:-:')1%-).$/$*0%/$/(
,9?I8I8.5 a a ^ ,9?I8I8'aa^+ #D:9DIT7>'7NIDB7EI9 -1)*$.A%D)/)&)*%2.%'26$'<% 03%-$%0#$
a 6 6 *+13202*%.:'4#)0$%4130$38'<&)*%41$(
,9?I8I8.] ,9?I8I8'a66+ #D:9DIT7>'7NIDB7EI9
523:.'<%2+$*02E$+%2*%/)*<%-).$/$*0
,9?I8I8.b a ^ 6 ,9?I8I8'a^6+ +?8IA8M'?9FO7'ADB7:'GD:9DIT7>'7NIDB7EI9 /$/-1)*$.A%"#$%4130$38'<&)*.%)1$%&)(
` 6 6 4)-'$%3>%2*0$1)&023*.%720#%.$5$1)'%30#$1
,9?I8I8.c ,9?I8I8'`66 &8>ADB7EI9M'87:P7GM'G?AADB'?;G<E7M'9>INAG7'DIGG;7
-).$/$*0%/$/-1)*$%&3/43*$*0.%)*+
,9?I8I8.g ` ^ 6 ,9?I8I8'`^6 &8>ADB7EI9M'87;:A?;G<;E9:'R;8<DIA8M'G?AADB' )1$%-$'2$5$+%03%&3*012-:0$%03%0#$%35$1)''
?;G<E7M'KEA?7:;E;GM'9>INAG7'DIGG;7' )1$&0:1$%3>%0#$%-).$/$*0%/$/-1)*$
,9?I8I8.6_ 5 6 6 ,9?I8I8'566 *9D;:7'7NIDB7EI9'98>'78>ADB7EI9M'G?AADB'?;G<E7 ).%7$''%).%41352+$%02..:$(.4$&2E&%>:*&(
023*.A%"#$%#28#%.:'>)0$%&3*0$*0%3>%0#$
,9?I8I8.66 5 ^ 6 ,9?I8I8'5^6 *9D;:7'7NIDB7EI9'98>'78>ADB7EI9M'G?AADB'?;G<E7M' 4130$38'<&)*.%/)6$.%0#$/%#28#'<%*$8)(
87;:A?;G<;E9:'R;8<DIA8M'KEA?7:;E;G 025$'<%&#)18$+%)*+%#<+134#2'2&?%)*+%0#$
,9?I8I8.6^ ^ 6 a ,9?I8I8'^6a *;G<E7 &#)18$%+$*.20<%2.%1$.43*.2-'$%>31%41352+(
2*8%0#$%.$'$&025$%4$1/$)-2'20<%3>%0#$%8'3(
,9?I8I8.6` ` ^ a ,9?I8I8'`^a %7DI89M'<78D:9E'87:PA;G'GFGD7?M'=I>87FM'D7GDIG /$1:')1%-).$/$*0%/$/-1)*$A
,9?I8I8.65 5 ^ a ,9?I8I8'5^a %7DI89M'<78D:9E'87:PA;G'GFGD7?M'?;G<E7M'=I>87F _<*+$&)*.% )1$% 01)*./$/-1)*$% #$4)(
1)*% .:'>)0$% 4130$38'<&)*.% 41$.$*0% 3*
9#77':7H7:78<7G']c'98>']gC
/3.0% &$''% 0<4$.?% 2*&':+2*8% -).)'% 6$1)02(
*3&<0$.% 3>% 0#$% $42+$1/2.A% "#$% $@01)&$'(
':')1%+3/)2*.%#)5$%)>E*20<%>31%')/2*2*.
0#$%62+*$<%8'3/$1:':.%)*+%0#$%&)42'')1< ')/2*2*% *$07316.% )*+% 2*0$81)0$% 30#$1 )*+?% 41$.:/)-'<% 0#13:8#%0#$.$% 2*0$1)&(
-).)'%')/2*)AVU%"#$% P%&#)2*%2.%2*53'5$+ -).$/$*0% /$/-1)*$% &3/43*$*0.% 2*03 023*.?%0#$<%1$8:')0$%)%5)12$0<%3>%-23'382&
2*% $420#$'2)'% )+#$.23*% N.$$% c420#$'2)'( 0#2.% .4$&2)'2F$+% $@01)&$'':')1% /)012@ASU?S! 413&$..$.?% 1)*82*8% >13/% 81370#% >)&031
_4$&2E& D).$/$*0% L$/-1)*$% T3/43( ")18$0$+% )-')023*% 3>% *2+38$*.% 2*% /2&$ .28*)'2*8?%&$''%)+#$.23*?%)*+%&<03.6$'$0)'
*$*0.OA "#1$$ % &#)2*% 5)12)*0.h H? `? .#37$+% 0#)0% 0#$% '3..% 3>% $20#$1% 2.3>31/ 318)*2F)023*?% 03% 2*>$&023*% 3>% &$''.% 720#
)*+ Ph)1$% 6*37*A% "#$% `% &#)2*% 2. #).%*3%$>>$&0%3*%-).$/$*0%/$/-1)*$%>31( /2&13318)*2./.AUJ
>3:*+% 3*'<% 2*% ')/2*2*% PP`% 2*% 0#$% .62* /)023*%)*+%318)*%+$5$'34/$*0?%-:0%')&6
N.$$% c420#$'2)'(_4$&2E&% D).$/$*0% L$/( 3>% -30#% 1$.:'0.% 2*% .$5$1$% +$>$&0.% 3>% 0#$ 9$:23$%&' W2-:'2*.% )1$% )% >)/2'<% 3>% .2@
-1)*$% T3/43*$*0.OA% "#$% P% &#)2*?% ) ':*8%)*+%0#$%#$)10U`%0#)0%)1$%*30%&3/4)02( #28#'<% &3*.$15$+?% &)'&2:/(-2*+2*8% $@01)(
&3/43*$*0% 3>% ')/2*2*.% S`P% )*+% J`P? -'$% 720#% '2>$A% R*0$1$.02*8'<?% +$.420$% 0#$ &$'':')1%/)012@%4130$2*.A%"#$<%)1$%'3&)0$+
-2*+.%*2+38$*.%H%)*+%`%)*+%2.%'3&)'2F$+ :-2=:203:.%41$.$*&$%3>%*2+38$*.%2*%-).$( 2*% 5$..$'% 7)''.?% -).$/$*0% /$/-1)*$.?
2*% -).$/$*0% /$/-1)*$% F3*$.% 3>% )+:'0 /$*0%/$/-1)*$.?%)-$11)023*.%+2+%*30%3&( )*+% /2&13E-12'')1% .01:&0:1$.% )*+% 0#$<
)*+%$/-1<3*2&%-1)2*?%62+*$<?%.62*?%/:.( &:1%2*%)''%-).$/$*0%/$/-1)*$.?%.:88$.0( #)5$%35$1')442*8%-2*+2*8%.20$.%>31%)%5)12(
&'$?% )*+% 0$.02.A% R0% 2.% 41$.$*0% 2*% /:&# 2*8%+2.02*&0%13'$.%>31%*2+38$*.%2*%+2>>$1$*0 $0<%3>%'28)*+.?%-30#%-).$/$*0%/$/-1)*$
'37$1%&3*&$*01)023*.%0#)*%0#$% H%&#)2*? -).$/$*0%/$/-1)*$.AU` 4130$2*.% )*+% &3/43*$*0.% 3>% 0#$% 2*0$1.02(
)% >)&0% 0#)0% /)<% 2*+2&)0$% #28#'<% .4$&2)'( 02)'% &3**$&025$% 02..:$.AUV% "#$1$>31$?% E-:(
2F$+% >:*&023*.AUH% "#$% >:*&023*.% 3>% )'' -,."/"%01234"5,06/*5,*+378"%&' K*30#$1 '2*.% )1$% -$'2$5$+% 03% >:*&023*% ).% 2*0$1(
')/2*2*.% )1$% *30% <$0% >:''<% :*+$1.033+? &')..%3>%:-2=:203:.%2*0$81)'%-).$/$*0 /3'$&:')1% -12+8$.% 0#)0% .0)-2'2F$% 0#$
-:0% -<% 2*0$1)&02*8% 720#% 2*0$812*.% )*+ /$/-1)*$%&3*.020:$*0.%)1$%0#$%413( .:41)/3'$&:')1% 318)*2F)023*% 3>% $@01)&$'(
30#$1% &$''% .:1>)&$% &3/43*$*0.% ')/2*2*. 0$38'<&)*.AUP "#1$$%4130$38'<&)*.%)1$ ':')1%/$/-1)*$%.01:&0:1$.?%.:&#%).%$').02&
&3*013'% &$'':')1% )&025202$.% .:&#% ).% )+#$( &#)1)&0$12.02&)''<%41$.$*0%2*%5).&:')1%)*+ E-$1.%)*+%-).$/$*0%/$/-1)*$.A%X$*$02&
.23*?%/281)023*?%413'2>$1)023*?%)*+%43')1( $420#$'2)'%-).$/$*0%/$/-1)*$.[%4$1'$( +$>$&0.% 3>% 0#$% 8$*$.% $*&3+2*8% E-:'2*% S
20<%2*%)%72+$%5)12$0<%3>%318)*.AVU?V! &)*?%)812*?%)*+%-)/)&)*A%"#$<%&3*.2.0 )*+%J%&):.$%+2>>$1$*0%>31/.%3>%&:02.%')@)AUU
3>%)%&31$%4130$2*%3>%5)123:.%'$*80#.?%)*+
($)*+,%&' "73% *2+38$*.?% *2+38$*% H% )*+ 0#$%E1.0%073%&)11<%412/)12'<%#$4)1)*
`?%)'.3%6*37*%).%&,-"#-3,'=%)*+%>?%)1$%+2.( .:'>)0$%.2+$%&#)2*.?%7#$1$).%0#$%')00$1 &)"40&,"+,.#)&/"("/'3+#&*&-4'
02*&0% 8$*$% 413+:&0.A% D30#% )1$% 1$')025$'< &)112$.%412/)12'<%*+13202*%.:'>)0$A *&*3%+-&'/$*)$-&-4#
./)''% /3'$&:'$.% N.$$% W28A% JH(SMO?% 7#2&# "#$%*)/$%1&+%&#",%2.%+$125$+%>13/%20.%13( "#$%+$1/)'($42+$1/)'%B:*&023*%3>%.62*%2.
-2*+%')/2*2*.%)0%)%.4$&2E&%.20$%720#2*%0#$ 0)1<%.#)+372*8%)44$)1)*&$%1$/2*2.&$*0 )*% $@&$''$*0% $@)/4'$% 3>% .4$&2E&% +25$1(
H%)*+%0#$% P%&#)2*?UH%-:0%)'.3%&3'')8$*%Ra? 3>%)%.012*8%3>%4$)1'.A%\$1'$&)*%1$41$.$*0. 8$*&$% 2*% -).$/$*0% /$/-1)*$% .01:&0:1$A
4$1'$&)*?% )*+% E-:'2*.A% R0% #).% -$$*% 413( )%&3/4'$@%/:'02+3/)2*%4130$38'<&)* "#$% .01:&0:1)'% &3/43*$*0.% 3>% #$/2+$.(
43.$+%0#)0%*2+38$*.%)&0%).%&3**$&02*8%$'( 720#%$*31/3:.%+2/$*.23*.%)*+%)%*:/( /3.3/$.?% )*ĸ*8% E')/$*0.?% )*+% )*(
$/$*0.% -$07$$*% 0#$% &3'')8$*% Ra% )*+ -$1%3>%43.0(01)*.')023*)'%/3+2E&)023*.AUS ĸ*8% E-12'.% 2*% 0#$% -).$/$*0% /$/(
!:!
56789#,:;." *A>7E'AH'DB7'BFNADB7DI<9E':7E9DIA8GBING'AH'?AE7<;E7G'ZIDBI8'DB7'>7:?9E.7NI>7:?9E'R;8<DIA8'O9G7?78D'?7?O:987C'4B7'IEE;GD:9DIA8'>7NI<DG
E9?I8I8'aa^'9G'DB7'O:I>K7'O7DZ778'DB7'D:98G?7?O:987'B7?I>7G?AGA?9E'I8D7K:I8' ] `'98>'DB7'<AEE9K78'1""'-/.6'>A?9I8C'4B7'DIKBD'OI8>I8K'AH'E9?I8I8'aa^'DA
] `'98>'DA'<AEE9K78'1""'N:API>7G'DB7'N:I?9:F':7GIGD98<7'DA'H:I<DIA89E'HA:<7GC'4B7'D:98G?7?O:987'<AEE9K78'j1""'9EGA'N9:DI<IN9D7G'I8'DBIG'GD9OIEIJ9DIA8M'O7<9;G7
IDG' 7QD:9<7EE;E9:' >A?9I8' 9EGA'OI8>G' E9?I8I8' aa^C'fIDBI8' DB7'7NIDB7EI9E' <7EEM' DB7' D:98G?7?O:987' 7E7?78DG' OI8>' DB7' N:AD7I8G'AH' DB7' B7?I>7G?AGA?9E' >78G7
NE9W;7M'O;EEA;G'N7?NBIKAI>'98DIK78'X3)+LY6'98>'NE7<DI8M'ZBI<B'DB78'9GGA<I9D7'ZIDB'DB7'=7:9DI8GC'/AEE9K78'j1""'OI8>G'3)+L6M'I8D7K:I8 ] `M'98>'NE7<DI8M'98>
I8D7K:I8 ] `'OI8>G'NE7<DI8C'4B7'E9?I8I8'5.]'<A?NE7Q'IG'GBAZ8'ZIDBI8'DB7'O9G7?78D'?7?O:987'O7DZ778'B7?I>7G?AGA?7GM'OA;8>'OF'I8D7K:I8' a 6M'98>'9G.
GA<I9D7>'ZIDB'DB7'I8D:9<7EE;E9:'N:AD7I8G'=I8>EI8M'D9EI8M'98>'PI8<;EI8C'4BIG'<A?NE7Q'N:7G;?9OEF'?9I8D9I8G'O9G7?78D'?7?O:987'GD9OIEIDFC'"8'PID:AM'I8D7K:I8' a 6M
=I8>EI8M'D9EI8M'98>'PI8<;EI8M'98>'98ADB7:'D:98G?7?O:987'<AEE9K78M'DFN7'j"""M'9:7'EA<9EIJ7>'DA'DB7'HA<9E'<A8D9<DGM'ZBI<B'?9F'H;8<DIA8'9G'DB7'EI8='O7DZ778'DB7
O9G7?78D'?7?O:987'98>'DB7'7NIDB7EI9E'<A:DI<9E'9<DI8'87DZA:=C'"8'DB7'E9?I89'>78G9M'<AEE9K78'"1'98>'N7:E7<98'87DZA:=G'9:7'GD9OIEIJ7>'OF'8I>AK78C'+8<BA:I8K
TO:IEG'9:7'G7<;:7>'DA'DB7'E9?I89'>78G9'OF'DB7'-/.6'>A?9I8'AH'<AEE9K78'1""C'4B7'TO:IEG'N:AR7<D'I8DA'DB7'>7:?IG'98>'7IDB7:'D7:?I89D7'I8'98<BA:I8K'NE9W;7G'A:'EAAN
O9<='DA'DB7'E9?I89'>78G9C'4B7'98<BA:I8K'TO:IE'87DZA:='78D:9NG'>7:?9E'TO:IEGM'DB;G'G7<;:I8K'DB7'9>B7GIA8'AH'DB7'E9?I89'>78G9'DA'DB7'N9NIEE9:F'>7:?IGC'-A87'AH
DB7'?AE7<;E7G'IG'>:9Z8'DA'G<9E7C
-1)*$% F3*$% )1$% =:20$% 7$''% &#)1)&0$12F$+ /3.3/$%)0%&$''(&$''%B:*&023*.%2*%0#$%$42( `PI(6+% 4130$2*?% @48A=% N-:''3:.% 4$/(
N>31% 1$52$7?% .$$% 1$>.A% SU,JH?% U!?% U^OA% K +$1/2.A% d37$5$1?% 0#$% &3/43*$*0.% 3> 4#2832+%)*028$*%H?%31%D\`PIO?%2.%)%&32'$+(
&)1033*%+$42&02*8%0#$%1$')025$%'3&)023*.%3> 0#$.$% 073% .01:&0:1$.% )1$% +2.02*&0A% T#)1( &32'% +2/$12&% 4130$2*% 720#% #3/3'38<% 03
0#$%4130$2*.%>3:*+%)0%0#$%+$1/)'($42+$1( )&0$12F)023*% 3>% 0#$% #$/2+$./3.3/)' 4')62*.?% 7#2&#% -2*+% 2*0$1/$+2)0$% E')(
/)'% B:*&023*% 2.% .#37*% 2*% W28:1$% JH(UA 4130$2*.% 7).% 2*202)''<% )2+$+% -<% 0#$% :.$ /$*0.A!I?!`% D\KXH% 2.% 0#$% /)B31% &3/43(
"#$.$% 4130$2*.% )1$% '2.0$+% 2*% ")-'$% JH(P 3>% ):03)*02-3+2$.% 2*% .$1:/% 3>% 4)02$*0. *$*0% 3>% 0#$% #$/2+$./3.3/)'% 2**$1
)*+%+2.&:..$+%2*%0#$%>3''372*8%.$&023*.A 720#% -:''3:.% 4$/4#2832+% NW28A% JH(!O? +$*.$% 4')=:$A% R*% )% 01)*.8$*2&% /3:.$
7#2&#%1$&38*2F$+%)*028$*.%720#%)%/).. /3+$'?% +$'$023*.% 2*% D\KXH% &):.$+% $42(
>13/%H`I%6+%03%`PI%6+A`U?!I?!H%T'3*2*8%3> +$1/3'<.2.%-:''3.)%.2/4'$@U!%-:0%*3%#:(
07?I>7G?AGA?7G
0#$% &MQK.% >31% 0#$% /3'$&:'$.% #$'4$+ /)*% /:0)023*.% #)5$% -$$*% >3:*+% .3
C'01).01:&0:1)''<?% 0#$% #$/2+$./3.3/$ 2+$*02><% 0#1$$% +2.02*&0% 43'<4$402+$ >)1A!P% "#$% H!I(6+% 4130$2*?% 41$523:.'<
&'3.$'<% 1$.$/-'$.% 3*$(#)'>% 3>% 0#$% +$.( &#)2*.[%`PI%6+?%H!I%6+?%)*+%H`I%6+A%"#$ &)''$+ @48A>% 31% @4=BC?% )*+% 0#$% /)B31
!::
!"#$%&'()-
G"$-I"#$%#%$&'(&.I(A&#"$".,(2"$B*&."(J%."(KA2JL()&*+",#(-.(/0-.(!-#"&#"
G129!1/23/321MA2J(43253616) 78)3922861()7:;1) ;161)94()7:;1)
/FDAG=7E7D9E'N:AD7I8G V7:9DI8'5'98>'6` &3#
07?I>7G?AGA?9E'NE9W;7'N:AD7I8G 3;EEA;G'N7?NBIKAI>'98DIK78'6k3)^a_ 3)
)E7<DI8 3)M'/) &3#.*!
$DB7:'I8D:9<7EE;E9:'9>B7GIA8'<A?NE7Q'N:AD7I8G VI8>EI8.6 V#
07?I>7G?AGA?9E'D:98G?7?O:987'<A?NA878DG /AEE9K78'j1""k3)6c_ 3)M'/)M',+!M')L' @&3.8A8.07:EIDJ
] `'I8D7K:I8 3)M'/) @&3.)+
/!656 ):7DIOI9E'&3M'87NB:IDIGM'>79H.
87GGM' .DB9E9GG7?I9'?I8A:
+8<BA:I8K'TE9?78D'N:AD7I8G ,9?I8I8'aa^kE9?I8I8.5 /) @&3.07:EIDJ
@&3l8A8.07:EIDJ
&<DA>A?9I8'AH'<AEE9K78'j1"" ,+!M'3) @&3.8A8.07:EIDJ
+8<BA:I8K'TO:IE'N:AD7I8G /AEE9K78'1"" &3+ !&3
3)'['O;EEA;G'N7?NBIKAI>'XG77'/B9NC'5`YU'/)'['<I<9D:I<I9E'N7?NBIKAI>'XG77'/B9NC'55YU'!&3'['>FGD:ANBI<'&3'XG77'/B9NC']_'HA:'9EEYU'&3'['7NI>7:?AEFGIG'O;EEAG9U'&3+'['
&3'9<W;IGID9'XG77'/B9NC'5cYU'&3#'['&3'GI?NE7QU'&3#.*!'['&3#'ZIDB'?;G<;E9:'>FGD:ANBFU'@&3['R;8<DIA89E'&3U'@&3.)+'['@&3'ZIDB'NFEA:I<'9D:7GI9U'V#'['VI8>E7:'GF8.
>:A?7U',+!'['EI879:'I??;8AKEAO;EI8'+'>7:?9DAGIG'XG77'/B9NC'5]YU')L'['N7?NBIKAI>'K7GD9DIA8IG'XG77'/B9NC'5bYC
)*028$*% 2*% -:''3:.% 4$/4#2832+?% 2.% ) 0#$% &$''% .:1>)&$% -<% 4130$2*).$.% 3>% 0#$ #28#% )>E*20<% >31% ')/2*2*% PP`?% )*+% 0#$1$(
01)*./$/-1)*$%&3'')8$*%*37%6*37*%). KMKL% NK% +2.2*0$812*('26$% )*+% /$0)''3( >31$% 2.% $..$*02)'% 03% 2*0$81)023*% 3>% 0#$
#/%%"0&,'DEFF?%7#$1$%0#$%&3'')8$*3:.%+3( 4130$2*).$(&3*0)2*2*8O% >)/2'<!^% 0#13:8# #$/2+$./3.3/$% 720#% 0#$% :*+$1'<2*8
/)2*% 2.% $@01)&$'':')1A!S,!U% R*% >)&0?% &3'( &'$)5)8$% 720#2*% 0#$% B:@0)/$/-1)*3:. -).$/$*0% /$/-1)*$% )*+% .013/)AU!?U^
')8$*% faRR% 2.% )% 413030<4$% 3>% 0#$% *35$' QT(HV% +3/)2*% NW28A% JH(^OA% \'$&02*?% )*( L:0)023*.% 2*% $20#$1% 0#$% V% 31% S% &#)2*.
4130$2*% >)/2'<% 3>% &3'')8$*3:.% 01)*.( 30#$1%+2/$12&%4')62*%#3/3'38:$?%2.%)'.3%) 1$.:'0% 2*% +$1/)'($42+$1/)'% 2*.0)-2'20<A% R*
/$/-1)*$% 4130$2*.?% 0<4$% RR% 01)*./$/( &3/43*$*0% 3>% 0#$% #$/2+$./3.3/$AU! /2&$?% *:''% /:0)023*.% &):.$% .$5$1$% B:*&(
-1)*$% /3'$&:'$.% 720#% 3*$% 31% /31$% &3'( d37$5$1?% 20.% 02..:$% +2.012-:023*% 2.% *30 023*)'% $42+$1/3'<.2.% -:''3.)AU!% R*% #:(
')8$*3:.% .01$0&#$.% 2*% 0#$% $@01)&$'':')1 '2/20$+% 03% #$/2+$./3.3/$(&3*0)2*2*8 /)*.?%+2>>$1$*0%/:0)023*.%2*%0#$% V%31% S
+3/)2*A!!% L:0)023*.% 2*% &3'')8$*% faRR -).$/$*0% /$/-1)*$.A% L:0)023*.% 3> &#)2*.% )1$% )..3&2)0$+% 720#% 5)12)-'<% .$(
&):.$% B:*&023*)'% $42+$1/3'<.2.% -:''3.) 4'$&02*% 1$.:'0% 2*% $42+$1/3'<.2.% -:''3.) 5$1$% .62*% -'2.0$12*8% )..3&2)0$+% 720#% 4<(
N.$$% T#)4A% VIO?% 2*+2&)02*8% 0#)0% 20% .0)-2( .2/4'$@% )*+% 41381$..25$% /:.&:')1% +<.( '312&%)01$.2)AU^?!P
'2F$.% 2*0$1)&023*.% 3>% -).)'% 6$1)02*3&<0$. 0134#<%)*+?%2*%.3/$%&).$.?%B:*&023*)'%$42( K%/$/-$1%3>%0#$%72+$'<%$@41$..$+%&$''
720#%0#$%-).$/$*0%/$/-1)*$A%R0.%2*01)( +$1/3'<.2.% -:''3.)% 720#% 4<'312&% )01$.2) .:1>)&$% 01)*./$/-1)*$% 4130$2*.% 3>% 0#$
&$'':')1% '28)*+.% )1$% 4'$&02*?% D\K8(H% )*+ N.$$%T#)4A%VIO?%2*+2&)02*8%)%13'$%>31%4'$&( 0$01).4)*2*%>)/2'<?%TMHJH?%2.%)'.3%)%&3/(
S%2*0$812*?%)*+%0#$%$@01)&$'':')1%'28)*+. 02*%2*%0#$%.0)-2'20<%3>%&$''(-).$/$*0%/$/( 43*$*0% 3>% 0#$% #$/2+$./3.3/$A% R0% >31/.
U!?U^% "#$
V% 2*0$812*% )*+% ')/2*2*% PP`A -1)*$%)+#$.23*%2*%)%5)12$0<%3>%02..:$.A &3/4'$@$.%720#% P H%)*+% V S%2*0$812*.%)0
H`I(6+%4130$2*%2.%0#$%$&03+3/)2*%3>%&3'( G*$% 6$<% &3/43*$*0% 3>% 0#$% #$/2+$.( 0#$% -).3')0$1)'% .:1>)&$% 3>% -).)'% 6$1)02*3(
')8$*% faRR?!J?!U?!!% 7#2&#% 2.% .#$+% >13/ /3.3/$% 2.% 0#$% 2*0$812*% V SAU!% R0% #).% ) &<0$.%)*+%.0)-2'2F$.%0#$21%>:*&023*.%-<%413(
< =
56789#,:;.4 <B'#=I8'OEIGD7:G'I8'O;EEA;G'N7?NBIKAI>':7G;ED'H:A?'98DIOA>F.?7>I9D7>'EAGG'AH'H;8<DIA8'AH'DB7'9>B7GIA8'?AE7<;E7'<AEE9K78'j1""C'=B'"8>I:7<D'I?.
?;8Ad;A:7G<78<7'GD9I8I8K'AH'B;?98'G=I8'ZIDB'9'N7?NBIKAI>'G7:;?'DB9D'<A8D9I8G'9;DA98DIOA>I7G'DA'<AEE9K78'j1""C
!:G
faRR?VU?V!?U^% 073% '28)*+.% 0#)0% 2*0$1)&0
720#% $)&#% 30#$1% 0#13:8#% *3*&35)'$*0
-3*+.AHIH% "#$% $&03+3/)2*% 3>% &3'')8$*
faRR?%7#2&#%41301:+$.%>13/%0#$%4')./)
/$/-1)*$%2*03%0#$%')/2*)%':&2+)?%#).%)
'334%.01:&0:1$%&3*.2.0$*0%720#%20.%13'$%).
)*% )*ĸ*8% E')/$*0% 4130$2*AHI`% "#$
/3'$&:')1%&#)1)&0$12.02&.%3>%0#2.%&3'')8$*
)1$%+$'2*$)0$+%2*%d$/2+$./3.3/$.A!S,!!
e)/2*2*%PP`%2.%)%+2.:'E+$(-3*+$+%&3/(
4'$@% 3>% P? P?% )*+% `% &#)2*.A% "#$% 073
.4'2&$%5)12)*0.%3>%0#$% P%&#)2*?% PK%)*+
PD?% )..3&2)0$% 720#% 0#$% P% )*+% `
&#)2*.% 03% >31/% ')/2*2*% PKP`% )*+% PDP`
N.$$ W28A% JH(VO?% 41$523:.'<% 6*37*% ).
%"!3,3,)?AV!% ]30)1<% .#)+372*8% 2/)82*8
2*+2&)0$.%0#)0%')/2*2*%PP`%#).%)%13+('26$
.01:&0:1$%0$1/2*)02*8%2*%0#$%8'3-:')1%1$(
56789#,:;.> #<B7?9DI<':7N:7G78D9DIA8'AH'<AEE9K78'j1""'98>'IDG'7<DA>A?9I8'GB7>>I8KC'/AEE9K78'j1""'IG 823*.%N.$$%W28A%JH(SWO?%)%.#)4$%&3*.2.0$*0
9'B7?I>7G?AGA?9E'D:98G?7?O:987'N:AD7I8'ZIDB'98'I8D:9<7EE;E9:'-.D7:?I8;GC'4B7'7QD:9<7EE;E9:'/.D7:?I8;G 720#% 20.% 13'$% ).% )*% )*ĸ*8% E')/$*0
X7<DA>A?9I8Y' <A8D9I8G' G7P7:9E' <AEE9K78A;G' G;O>A?9I8G' X5/+0%Y' 98>' I8D7:P78I8K' 8A8.<AEE9K78A;G' G7. 4130$2*A% "#$% 2*+252+:)'% &#)2*.% )1$% &3*(
W;78<7G'X5"$6"YC'4B7'7<DA>A?9I8'<98'O7'GB7>'H:A?'DB7'<7EE'G;:H9<7'OF'N:AD7I89G7G'AH'DB7'+!+*G'X+'>IGI8. .2+$1)-'<% 01:*&)0$+% 1$')025$% 03% 30#$1
')/2*2*%&#)2*.?%)*+%0#2.%01:*&)023*%2.%1$(
D7K:I8.EI=7'98>'?7D9EEAN:AD7I89G7.<A8D9I8I8KY'H9?IEFM'DB7?G7EP7G'D:98G?7?O:987'N:AD7I8GC'4B;GM'DB7'6c_.
9$&0$+% 2*% 0#$% '3..% 3>% 0#$% .01:&0:1$.
=>'H;EE.E78KDB'?AE7<;E7'FI7E>G'9'GBA:D7:'GAE;OE7'7<DA>A?9I8'AH'6^_'=>C'4B7'6c_.=>'H;EE.E78KDB'?AE7<;E7'IG
$=:25)'$*0% 03% 0#$% .#310% )1/.% 3>% 30#$1
DB7'<E9GGI<'O;EEA;G'N7?NBIKAI>'98DIK78.^M'98>'DB7'7<DA>A?9I8'IG'DB7'6^_.=>'EI879:'I??;8AKEAO;EI8'+'X"K+Y ')/2*2*.A% K++2023*)''<?% 0#$% P% )*+% `
>7:?9DAGIG'98DIK78C'(;:DB7:'>7K:9>9DIA8'AH'DB7'/.D7:?I8;G'AH'DB7'7<DA>A?9I8':7G;EDG'I8'DB7'gb.=>'EI879:'"K+ &#)2*.% )1$% 4130$3'<02&)''<% 413&$..$+% )>(
>7:?9DAGIG'98DIK78C 0$1%.$&1$023*%>13/%0#$%6$1)02*3&<0$?%>:1(
0#$1%012//2*8%0#$%.#310%)1/.AHIP?HIS%"#$
52+2*8%)%>1)/$7316%>31%0#$%.4)02)'%318)*2( ')/2*2*% PP`,PHH% &3/4'$@% 2*% 0#$% -).$( T(0$1/2*:.% 3>% 0#$% % &#)2*?% '3*8$1% 0#)*
F)023*% 3>% 0#$% +2>>$1$*0% &3/43*$*0.A^I /$*0% /$/-1)*$% -$07$$*% 0#$% #$/2+$.( 0#)0%3>%0#$% %)*+% %&#)2*.?%&3/412.$.%E5$
M2..3&2)023*%3>% 0#$% TMHJH(2*0$812*% &3/( /3.3/$.?^J%)*+%)*30#$1%01)*./$/-1)*$ 8'3-:')1%eX%/3+:'$.?%eXH%0#13:8#%eXJ?
4'$@$.% 4$1/20.% 1$/3+$'2*8% 3>% $420#$'2)' &3'')8$*?%0<4$%fRRRA^V%_2*&$%0#$.$%4130$2*. 7#2&#% 2*0$1)&0% 720#% &$''% .:1>)&$% 1$&$4(
&$''%2*0$1)&023*.%720#%0#$%-).$/$*0%/$/( )1$%'3&)'2F$+%03%>3&)'%&3*0)&0.%2*%52013?%03( 031.A% "#$% P H% )*+% V S% 2*0$812*.% #)5$
-1)*$% )*+% &$''%/281)023*A^H?^`% TMHJH(*:'' 8$0#$1% 720#% 52*&:'2*% )*+% 0)'2*?% 0#$<% )1$ )>E*20<% >31% 0#$% eXH(P% +3/)2*.?HIJ
/2&$%#)5$%)44)1$*0'<%*31/)'%02..:$%/31( 41$+2&0$+%03%>:*&023*%).%0#$%'2*6%-$07$$* 7#$1$).% 0#$% eXS(J% 0)*+$/% #).% )>E*20<
4#3'38<?%2*&':+2*8%#$/2+$./3.3/$.?%-:0 0#$%-).$/$*0%/$/-1)*$%)*+%0#$%$420#$( >31% .<*+$&)*.% )*+% (+<.0138'<&)*% 3*
$@#2-20% .3/$% >:*&023*)'% )-$11)023*.?% $A8A? '2)'% &3102&)'% )&02*% *$07316A% ]$&$*0'<?% ) 0#$% 6$1)02*3&<0$% .:1>)&$AHIV% "#$% eXS(J
4331% 6$1)02*3&<0$% /281)023*% 2*% $@4')*0 *35$'% 2*01)&$'':')1% &3/43*$*0% 3>% 0#2. /3+:'$.% )1$% 4130$3'<02&)''<% &'$)5$+% 2*
&:'0:1$.A^P% K% 1)1$% #:/)*% 8$*$02&% &3*+2( &3/4'$@?%62*+'2*(H?%7).%2+$*02E$+%-<%0#$ /3.0% ')/2*2*.?% )% 413&$..% 7#2&#% /)<
023*%+$'25$1$+%2*+21$&0%2*>31/)023*%3*%0#$ 8$*$02&% .0:+2$.A% "#$% 62*+'2*(H% 8$*$? /3+:')0$% 2*0$1)&023*.% 720#% &$''% .:1>)&$
>:*&023*.%3>%TMHJHA%R*%)++2023*%03%0#$%$@( iRQMH?% 2.% /:0)0$+% 2*% 0#$% i2*+'$1% .<*( 1$&$4031.AVU?V!% e)/2*2*% PP`% >31/.% &3(
41$..23*% 3>% TMHJH% 2*% .$5$1)'% 02..:$.% '26$ +13/$?^U,^^% )% +2.31+$1% 720#% .62*% -'2.0$1( 5)'$*0% &3/4'$@$.% 720#% ')/2*2*% PHH
0#$%62+*$<%)*+%0#$%.62*?%20.%8$*$%)'.3%$*( 2*8%2*%2*>)*&<?%41381$..25$%43262'3+$1/)? N P H HO?% -2*+.% 03%0#$% QT(H% +3/)2*% 3>
&3+$.% 0#$% Lc]`% -'33+% 813:4% )*028$*% 3* .62*% )0134#<?% 428/$*0% )*3/)'2$.?% )*+? &3'')8$*% aRR?% 0#$% )*ĸ*8% E-12'
$1<0#13&<0$.A% d3/3F<83:.% TMHJH(*:'' 3&&).23*)''<?% .62*% &)*&$1A% R*% 0#$% $42+$1( 4130$2*U^% )*+% 03% 0#$% +2.0)'% $&03+3/)2*
/:0)023*.%7$1$%2+$*02E$+%2*%0#1$$%Lc]`( /2.?%62*+'2*(H%2.%$@41$..$+%)0%0#$%-).3')0( 3>% &3'')8$*% faRRAHIH% X$*$02&% $52+$*&$
*$8)025$% 4)02$*0.?% 7#3% )'.3% 41$.$*0$+ $1)'%.:1>)&$%3>%-).)'%6$1)02*3&<0$.?%)*+%2* +$/3*.01)0$.%0#)0%')/2*2*%PP`%2.%$..$*(
720#% #$1$+20)1<% *$4#1202.?% .$*.312*$:1)' &:'025)0$+% $420#$'2)'% &$''.% 20% &3('3&)'2F$. 02)'% 2*% 6$1)02*3&<0$% )+#$.23*?% ).% *:''
+$)>*$..?% 41$02-2)'% $42+$1/3'<.2.% -:''3.)? 720#%52*&:'2*?%)%/)16$1%3>%2*0$812*(/$+2( /:0)023*.% 2*% )*<% 3>% 20.% &3/43*$*0
)*+ (0#)')..$/2)% /2*31A^S% "#$.$% .</4( )0$+%&$''(/)012@%)+#$.23*.?%)*+%)&02*%/2( P?% P?%31% `%&#)2*.%1$.:'0%2*%.$5$1$%d$1(
03/.%.:88$.0%0#)0%TMHJH%2.%2/4310)*0%>31 &13E')/$*0.A^U?HII% "#$.$% 3-.$15)023*. '20F% B:*&023*)'% $42+$1/3'<.2.% -:''3.)
0#$%)..$/-'<%3>%0#$%-).$/$*0%/$/-1)*$ .:88$.0%0#)0%62*+'2*(H%2.%*$&$..)1<%>31%0#$ N.$$%T#)4A%VIOA!P%")18$0$+%+2.1:4023*%3>
2*% 0#$% 62+*$<?% .62*?% )*+% 2**$1% $)1% )*+ .0)-2'20<% 3>% 0#$% +$1/)'($42+$1/)'% B:*&( 0#$% /3:.$% ')/)P% 8$*$% 41$5$*0$+% 0#$
4')<.%)%13'$%2*%$1<0#13432$.2.A 023*%)*+%0#)0?%2*%)++2023*%03%#$/2+$./3( .<*0#$.2.% 3>% -30#% ')/2*2*% PP`% )*+% PHH
.3/$.?% 0$0#$12*8% 0#$% )&02*% &<03.6$'$03* /3'$&:'$.% )*+% 1$.:'0$+% 2*% )-*31/)'
$DB7:'&NI>7:?9E' 03%&$''(/)012@%)+#$.23*.%3>>$1.%)'0$1*)025$ #$/2+$./3.3/$.?% ')&6% 3>% .:1525)'% 3>
/$)*.% 03% )*% -).)'% $420#$'2)'% &$''.% 03 /:0)*0%$420#$'2)'%&$''.?%.$5$1$%B:*&023*)'
+>B7GIA8'/A?NE7Q7G
0#$%-).$/$*0%/$/-1)*$AU^ -'2.0$12*8?% )-*31/)'202$.% 3>% )/$'3-').0
R*% )++2023*% 03% 0#$% #$/2+$./3.3/)' +2>>$1$*02)023*% 2*% +$5$'342*8% 0$$0#?% )*+
&3/43*$*0.?% 30#$1% )+#$.23*% /3'$&:'$. 4$12*)0)'% '$0#)'20<AHIU% "#$1$>31$?% 0#$% .$(
+8<BA:I8K'(IE9?78DG
)1$% 6*37*% 03% -$% 41$.$*0% )0% 0#$% -).3')0( 5$120<%3>%0#$%')/2*2*%PP`%*:''%4#$*30<4$
$1)'%).4$&0%3>%-).)'%6$1)02*3&<0$.?%>31%$@( "#$%)*ĸ*8%E')/$*0.%&3*0)2*%')/2*2* 1$9$&0.% 0#$% '3..% 3>% 20.% )-2'20<% 03% -12+8$
)/4'$%2*0$812*% P H?%0#$%1$&$4031%>31%0#$ PP`% )*+% 0#$% $&03+3/)2*% 3>% &3'')8$* 0#$% #$/2+$./3.3/$.% )*+% 0#$% )*(
!:"
2*8% E-12'.?% 1$.:'02*8% 2*% )% .$4)1)023*
720#2*%0#$%')/2*)%':&2+)A
&NIDB7EI9E',9?I89'!78G9
"#$% -).$/$*0% /$/-1)*$% -$*$)0#% )*+
-$07$$*%0#$%#$/2+$./3.3/$.%&3*0)2*.
0#$ H( `,&3*0)2*2*8% &3'')8$*% Ra% *$0(
7316?% 413-)-'<% .3/$% H( `( J( V,
&3*0)2*2*8%&3'')8$*%Ra%*$07316?%).%7$''
).% *2+38$*?% 4$1'$&)*?% )*+% ')/2*2*% P
)*+ J(&3*0)2*2*8% /3'$&:'$.ASU,S^?VH
"#$ Q(0$1/2*:.% 3>% 0#$% P% &#)2*% ')&6.
0#$% .3(&)''$+% GH' !/($%&.?% 7#2&#% )''37
.$'>(43'</$12F)023*% 3>% 30#$1% ')/2*2*
2.3>31/.A% d37$5$1?% 0#$% P% &#)2*% &)*
)..3&2)0$%720#%0#$% H%)*+% H%&#)2*.%3>
')/2*2* PHH?% 41$523:.'<% ')/2*2*(V?
7#2&#%#).%0#$%:*2=:$%4134$10<%3>%>31/(
2*8% +2.:'E+$(-3*+$+% +2/$1.% 720#% ')/2(
*2*%PP`AVU?V!%R0%2.%413-)-'$%0#)0%0#$%/)B31
P(&3*0)2*2*8% ')/2*2*% 2*% 0#$% ')/2*)
+$*.)%-$07$$*%#$/2+$./3.3/$.%2.%0#$ 56789#,:;.;@ #=I8'H:9KIEIDF'98>'OEIGD7:I8K'I8'>FGD:ANBI<'7NI>7:?AEFGIG'O;EEAG9C'(;8<DIA89E'>7T<I78<F
')/2*2*% PP`(PHH% &3/4'$@AVU?V!?U^% K.% 0#$ AH'<AEE9K78'1""'9G'9':7G;ED'AH'?;D9DIA8G'I8'DB7''789:;'K787'E79>G'DA'D:9;?9.I8>;<7>'G7N9:9DIA8'AH'DB7
')/2*2* P%&#)2*%2.%)%'28)*+%>31%2*0$812* 7NI>7:?IG'98>'DB7'>7:?IGC'4B7'OEIGD7:':AAH'IG'O7EAZ'DB7'E9?I89'>78G9M'E79>I8K'DA'G<9:'HA:?9DIA8'A8'B79E.
P H% 41$.$*0% -$07$$*% #$/2+$./3( I8K'AH'DB7'OEIGD7:GC
.3/$.?%-2*+2*8%3>%')/2*2*%PP`(PHH%&3/(
4'$@%03%0#$%2*01)&$'':')1%)&02*%&<03.6$'$( 0124'$(#$'2&)'%+3/)2*?%SJI%*/%2*%'$*80#A >31/.% )% .&)>>3'+% 0#)0% $*01)4.% ')18$
03*%2.%'26$'<% 03%-$%/$+2)0$+%-<%2*0$812* X'3-:')1%+3/)2*.%$@2.0% )0%-30#%$*+.% 3> *:/-$1.%3>%+$1/)'%E-12'.?%.$&:12*8%0#$
P HA% "#2.% 2.% &3*.2.0$*0% 720#% .0:+2$.% 2* 0#$% 0124'$% #$'2@?% )*+% 0#$% Q(0$1/2*)'% +3( ')/2*)% +$*.)% 03% 0#$% .:-B)&$*0% +$1(
/2&$% 2*% 7#2&#% 0)18$0$+% )-')023*% 3>% 0#$ /)2*%QT(H%2.%5$1<%')18$%)*+%012+$*0('26$ /2.AJJ,JU?HH`% R*% 0#$% )&=:21$+% >31/% 3>
2*0$812* P%&#)2*%&):.$.%'3..%3>%0#$%-).$( N.$$ W28A% JH(ScOA% "#$% ./)''$1% T(4134$4( $42+$1/3'<.2.% -:''3.)?% $42+$1/3'<.2.
/$*0% /$/-1)*$% -$07$$*% #$/2+$./3( 02+$?% QT(`?% 2.% -$'2$5$+% 03% >)&2'20)0$% 0#$ -:''3.)% )&=:2.20)% N.$$% T#)4A% J!O?%)*+% 2*
.3/$.%-:0%*30%-$*$)0#%0#$/AHI!%"#$%Q( >31/)023*% 3>% 0#$% )*024)1)''$'?% &$*( -:''3:.% .<.0$/2&% ':4:.% $1<0#$/)03.:.
0$1/2*2%3>%')/2*2*%PP`%-2*+%03%&3'')8$* 013.<//$012&% +2/$1.?HHP% -$>31$% 20% 2.% 1$( N.$$% T#)4A% HJVO?% ):03)*02-3+2$.% 0)18$0
aRR?% )% &3/43*$*0% 3>% 0#$% )*ĸ*8 /35$+% -<% 0#$% /$0)''34130$2*).$% -3*$ /)2*'<% 0#$% QT(H% +3/)2*% 3>% &3'')8$*
E-12'.% '3&)0$+% 2*% 0#$% .:-(')/2*)% +$*.)? /314#38$*$02&% 4130$2*% HHHS% 03% <2$'+% ) aRRAHHU?HH!
.3% 0#)0% )*ĸ*8% E')/$*0.% )*+% E-12'. /)0:1$%&3'')8$*%aRRA%"#$%+2/$1.%)1$%&3( L:0)023*.% 2*% ;IGJ8=?% 0#$% 8$*$% $*(
)1$% +21$&0'<% &3**$&0$+AHI^% "#$% ')/2*2* 5)'$*0'<% &13..('2*6$+% 0#13:8#% +2.:'E+$ &3+2*8%&3'')8$*%aRR?%1$.:'0%2*%+<.0134#2&
PP`(PHH% &3/4'$@% )*+% ')/2*2*% JHH -3*+.%)0%0#$%&)1-3@<%0$1/2*:.?%)*+%0#$< $42+$1/3'<.2.% -:''3.)% N.$$% T#)4A% VIOA
N J H HO?%41$523:.'<%')/2*2*(HI?%&3*0)2* )881$8)0$% ')0$1)''<% 03% >31/% 0#$% )*( K.% 3>% `IIV?% /31$% 0#)*% PII% ;IGJ8=
) H% &#)2*% )*+% &)*% 0#$1$>31$% -2*+% *2( 2*8%E-12'.AHH`%"#$%E-12'.%)1$%>:10#$1%.0)-2( /:0)023*.% #)5$% -$$*% >3:*+% 2*% -30#% 1$(
+38$*%H% )*+% `% )*+% 0#$%&3'')8$*%Ra% *$0( '2F$+%-<%02..:$%01)*.8':0)/2*).$?%7#2&# &$..25$% )*+% +3/2*)*0% >31/.% 3>% +<.013(
7316AUI?UH%W:10#$1?%*2+38$*%H%)*+%E-:'2* &)0)'<F$.% 0#$% >31/)023*% 3>% &35)'$*0% ( 4#2&% $42+$1/3'<.2.% -:''3.)% NW28A% JH(HIO?
H%)*+%`%7$1$%.#37*%03%-$%'28)*+.%>31%1$( 8':0)/<'( ('<.2*$%&13..('2*6.AHHJ )*+% 0#$% .4$&01:/% 3>% -23'382&% )*+% &'2*2(
&3/-2*)*0%Q(0$1/2*)'% `%&#)2*%3>%')/2( "#$% QT(H% +3/)2*% 3>% &3'')8$*% aRR &)'% 4#$*30<4$.% 2.% /:&#% -13)+$1% 0#)*
*2*% PP`AHHI% "#$.$% 2*0$1)&023*.% )1$% 2/( -2*+.%03%')/2*2*(J%)*+%&3'')8$*%Ra%720#2* )*02&24)0$+AU^?!P?HH^% R*% 073% +2>>$1$*0
4310)*0% >31% 0#$% 2*0$81)023*% 3>% ')/2*2* 0#$% ')/2*)% +$*.)% N.$$% W28A% JH(PKOAHHV /3:.$%/3+$'.?%&3/4'$0$%31%4)102)'%+$E(
PP`% 2*03% 0#$% $@01)&$'':')1% /)012@% -$>31$ "#$%0124'$%#$'2&)'%+3/)2*.%3>%)*%)*024)1( &2$*&<% 3>%&3'')8$*% aRR%1$&)420:')0$+% 0#$
0#$% /)0:1)023*% 3>% 0#$% `% &#)2*?HIP% ).% ) )''$'%&3'')8$*%aRR%+2/$1%/)6$%0#$%'$*80# &'2*2&)'% )*+% /314#3'382&% &#)1)&0$12.02&.
.:-.0)*02)'%431023*%3>%Q(0$1/2*:.%3>%0#$ 3>% 0#$% )*ĸ*8% E-12'A% R0% $@0$*+.% 4$1( 3>% 1$&$..25$% +<.0134#2&% $42+$1/3'<.2.
`%&#)2*%2.%&'$)5$+%2*%#:/)*%)+:'0%.62*AU^ 4$*+2&:')1'<%>13/%0#$%')/2*)%+$*.)%)*+ -:''3.)% 2*% #:/)*.AH`I?H`H% "#$.$% /2&$
j$0% )*30#$1% '2*6?% 7#2&#% .01$*80#$*.% +$1( $20#$1%'334.%-)&6%2*03%0#$%')/2*)%+$*.) 72''% -$% :.$>:'% >31% 0$.02*8% 3>% /3'$&:')1
/)'($42+$1/)'% &3#$.23*?% 2.% 41352+$+% -< 31%2*.$10.%2*03%0#$%)*ĸ*8%4')=:$.AJJ,JU 0#$1)4<%.01)0$82$.%>31%+<.0134#2&%$42+$1(
/3'$&:')1% 2*0$1)&023*.% -$07$$*% 4$1'$&)* "#$% )*ĸ*8% 4')=:$.% )1$% $'$&013*( /3'<.2.%-:''3.)A%K%*:/-$1%3>%.:&#%0#$1(
720#2*% 0#$% ')/2*)%+$*.)% )*+%E-12''2*% H% 2* +$*.$%.01:&0:1$.%0#)0%&3*0)2*%&3'')8$*%Ra )42$.?% 1)*82*8% >13/% 4130$2*H``% 0#$1)4<
0#$%/2&13E-12'.AHHH )*+% ')/2*2*% PP`?% )*+% 4$1#)4.% 30#$1 03% 01)*.43.3*(/$+2)0$+% 8$*$% 01)*.(
-).$/$*0% /$/-1)*$% &3/43*$*0.?% -:0 >$1?H`P%#)5$%-$$*%&3*.2+$1$+A%X$*$%):8(
7#2&#%)1$%-$'2$5$+%03%-$%2*+$4$*+$*0%3> /$*0)023*% 2*% )*% $@% 5253% )4413)&#% &:1(
+8<BA:I8K'(IO:IEG
0#$% ')/2*)% +$*.)% 20.$'>AJJ% "#$<% )1$% +2.( 1$*0'<%.$$/.%03%-$%/3.0%413/2.2*8%).%)
T3'')8$*%aRR%2.%0#$%/)B31%&3/43*$*0%3> 012-:0$+% 1)*+3/'<% 2*% 0#$% 4)42'')1<% +$1( E1.0%.0$4?%2*%4)102&:')1%>31%1$&$..25$%+<.(
0#$% )*ĸ*8% E-12'.AJJ?JU?HH`% "#$% &3'( /2.% -$'37% 0#$% ')/2*)% +$*.)% )*+% )1$ 0134#2&% $42+$1/3'<.2.% -:''3.)AH`S,H`U
')8$*%aRR%/3'$&:'$%2.%+2.02*8:2.#$+%>13/ 2*0$11$')0$+% -<% )++2023*)'% )*ĸ*8 "#2.% .01)0$8<% &3/412.$.% 8$*$02&% &311$&(
30#$1%&3'')8$*.%2*%0#)0%20%#).%)%5$1<%'3*8 E-12'.A% "#$% )*ĸ*8% E-12'% *$07316 023*% 3>% 4)02$*0% 6$1)02*3&<0$.% 2*% 52013?
!:4
)*+% 0#$21% &:'025)023*% 2*03% $420#$'2)' 2*%-).$/$*0%/$/-1)*$%)..$/-'<AHPI?HPH aRR?% 03% /)0:1$% -).$/$*0% /$/-1)*$
.#$$0.% >31% 81)>02*8% 3*03% 0#$% 4)02$*0k. G>% 0#$% 6*37*% -).$/$*0% /$/-1)*$ /3'$&:'$.AHIP?HIS?HHS
.62*A% ]$.:'0.% 720#% )% &)*2*$% +<.0134#2& &3/43*$*0.?% 3*'<% ')/2*2*.% PP`% N')/2(
$42+$1/3'<.2.% -:''3.)% /3+$'% .$$/ *2*(JO% )*+% PHHK% N')/2*2*(VO% )1$% $@&':(
V&\'%&(&%&-/&#
413/2.2*8[% 01)*.+:&023*% 3>% $42+$1/)' .25$'<% 413+:&$+% -<% 0#$% $42+$1/2.A% c42(
&$''.%720#%)%1$013521)'%5$&031%&3*0)2*2*8 0#$'2)'% &$''.% )'.3% /)*:>)&0:1$% /3.0% 3> 4B7'H;EE':7H7:78<7'EIGD'HA:'9EE'<B9ND7:G'
0#$%$*021$%&3'')8$*%aRR%&MQK%$*#)*&$+ &3'')8$*% aRR?% 7#$1$).% /)2*'<% /$.$*( IG'9P9IE9OE7'9D'ZZZC>IK?bC<A?C
$@41$..23*% )*+% +$43.2023*% 3>% &3'')8$* &#</)'%&$''.%.<*0#$.2F$%&3'')8$*%Ra?%*2(
aRR%)0%0#$%+$1/)'($42+$1/)'%B:*&023*AH`V +38$*?% 4$1'$&)*?% )*+% 0#$% ')/2*2*% ` SA j2*% "?% X1$$*% il[% ]$8:')023*% 3>% +$./3(
R*% )*30#$1% )4413)&#?% *3*521)'% 8$*$ &#)2*AHPH% D$&):.$% 0#$% /$.$*&#</)' .3/$% )..$/-'<% )*+% )+#$.23*A% K&!3,
;&%%'6&L&%/1 @3/% !"[VVJ?%`IIS
01)*.>$1% :.2*8% &301)*.>$&023*% 3>% TPH 413+:&0.% )1$% 01)*.'3&)0$+% 03% 0#$% -).3( `UA \)<*$% K_% $0% )'[% M$./3.3/$.% )*+% +2.(
2*0$81).$% )*+% #:/)*% &3'')8$*% aRR% 1$( ')0$1)'% $420#$'2)'% .:1>)&$% 7#$1$% 0#$< $).$[% 4$/4#28:.% )*+% -:''3:.% 2/4$0283A
.:'0$+% 2*% 0#$% $@41$..23*% 3>% 0#$% 4130$2* &3*+$*.$?%0#)0%.:1>)&$%/:.0%41352+$%0#$ ;$++'I13,';&%%'@3/%'!#[JPV?%`IIS
2*% &3'')8$*% aRR,+$E&2$*0% McD% 6$1)02*3( '3&)'2F)023*% &:$.A% R*0$812*.% V S% )*+ P^A L&X1)0#%lK[%i$1)02*3&<0$%)+#$.23*%)*+
0#$% /2..2*8% '2*6[% >13/% M37'2*8(L$)1)
&<0$.AH`S% K.% E-13-').0.% )'.3% &3*012-:0$ P H% )*+% &3'')8$*% faRR% #)5$% -$$*% 2/( 03%d)<(b$''.A%;%3,'MN1'6&+!"-/% $#[`^V?
03% 0#$% .<*0#$.2.% 3>% &3'')8$*% aRR?% 0#$21 4'2&)0$+%2*%0#2.%413&$..?%.:88$.02*8%0#)0 `IIH
.:20)-2'20<% >31% 8$*$% 0#$1)4<% )4413)&#$. 0#$% ')/2*2*.% &331+2*)0$% -).$/$*0 S!A "2/4'% ][% L)&13/3'$&:')1% 318)*2F)023*
2.%:*+$1%2*5$.028)023*AH`!?H`^ /$/-1)*$% 43'</$12F)023*AVU?V!?HIH% K. 3>%-).$/$*0%/$/-1)*$.A%;$++'I13,';&%%
*2+38$*% 2.% 1$=:21$+% >31% .0)-2'2F)023*% 3> @3/% %[VH!?%H^^V
VHA d:+.3*% DX% $0% )'[% K'4310k.% .<*+13/$?
0#$% -).$/$*0% /$/-1)*$?% )*+% -$&):.$ X33+4).0:1$k.% .<*+13/$?% )*+% 0<4$% Ra
/7EE;E9:'$:IKI8'AH'DB7'!7:?9E. 20%2.%)%/$.$*&#</)'%413+:&0?%20%2.%'26$'< &3'')8$*A H'M,0%'O'L$+ &'%[`JSP?%`IIP
0#)0%0#$% +$1/2.%2.% $..$*02)'% 03% +$5$'34( V!A K:/)2''$<%L?%$0%)'[%K%.2/4'2E$+%')/2*2*
&NI>7:?9E'39G7?78D'*7?O:987 *3/$*&')0:1$A P"-+3N'@3/% $'[P`V?%`IIJ
/$*0%3>%-).$/$*0%/$/-1)*$.AHPP%_0:+(
UPA R3FF3% ]a[% D).$/$*0% /$/-1)*$% 413(
"#$% -).$/$*0% /$/-1)*$% &3*.020:$*0. 2$.% :.2*8% +2>>$1$*0% .62*% $=:25)'$*0% &:'( 0$38'<&)*.[% >13/% &$'')1% 03% &$2'2*8A% H"-
)1$%413+:&0.%3>%-30#%$420#$'2)'%)*+%/$.( 0:1$% /3+$'.% #)5$% +$/3*.01)0$+% 0#)0% ) Q&L'P/%';&%% @3/% #[VSV?%`IIJ
$*&#</)'% &$''.A% R*% 52013% /3+$'2*8% 3> 028#0% 2*0$14')<% -$07$$*% E-13-').0.% )*+ U!A i3.0$1% l?% D311)+312% e?% _3**$*-$18% K[
-).$/$*0% /$/-1)*$% >31/)023*% &'$)1'< 6$1)02*3&<0$.?% 2*% 0$1/.% 3>% -30#% 0#$21 D23'38<% 3>% 0#$% #$/2+$./3.3/$.?% 2*
.#37.%0#)0?%:*+$1%)0%'$).0%.3/$%&3*+2( /)012@%413+:&023*%)*+%.$&1$023*%3>%.3'( R",(5//2' /S' MN1&+3!&,-"%' 4*"+!"#/%/0T?
53'%HVJ?%$+20$+%-<%l%D$#1$*.?%bl%Q$'.3*A
023*.?% 0#$% +$1/)'($42+$1/)'% B:*&023* :-'$%.28*)'.?%1$8:')0$.%0#$%>31/)023*%3> D$1'2*?%_412*8$1?%`IIS?%4%`SP
-).$/$*0% /$/-1)*$% 2.% &3*012-:0$+% 03 0#$% +$1/)'($42+$1/)'% -).$/$*0% /$/( !IA j)*&$<% iD[% "#$% 4)0#34#<.23'38<% 3>
-<% -30#% 02..:$% &3/4)10/$*0.?% )*+% 20 -1)*$AHP`?HPS% K*% 2*0$1$.02*8% 1$8:')031< ):032//:*$% -'2.0$12*8% +2.$).$.A% O' ;%3,
#).% -$$*% 41343.$+% 0#)0% +2>>$1$*02)0$+ .0$4%/)<%-$%)++$+%-<%+$1/)'%$*F</$. F,L&.- !!"[!`J?%`IIJ
!PA d).% T?% D1:&6*$1(":+$1/)*% e[% L3'$&:(
E-13-').0.% $@2.0% )+B)&$*0% 03% $420#$'2)' N$A8A?% -3*$% /314#3'382&% 4130$2*% HO? ')1% )*+% +2)8*3.02&% ).4$&0.% 3>% 8$*$02&
02..:$.% 2*% 5253?% 7#2&#% 413+:&$% -).$( 7#2&#% 413&$..% $420#$'2)'% &$''% 413+:&0.? .62*%>1)82'20<A% O' 6&+!"-/%'K#3&,#& ''[H`^?
/$*0%/$/-1)*$%&3/43*$*0.%)*+%)..2.0 .:&#% ).% ')/2*2*% PP`% )*+% 413&3'')8$* `IIV
*)'2F)023*% )*+% +$81)+)023*% /)<% 1$9$&0 41$.:/)-'<% )..3&2)0$+% 720#% '3..% 3>% &$'' )..3&2)023*% 720#% +2.$).$% .:.&$402-2'20<
0#$% 4$/4#28:.% )*02-3+<(2*+:&$+% '3..% 3> )+#$.23*?% 2*% 0#$.$% &$''.A!V% W2*)''<?% -'3&6( -$&3/$.%$5$*%/31$%.01262*8%2*%)*%)*)'<(
)+#$.23*% >:*&023*A% d37$5$1?% +$4'$023*? 2*8% 5)123:.% .28*)'2*8% 4)0#7)<.% 41$5$*0. .2.% 3>% 0#$.$% LdT% )''$'$.% )0% )% 8$*$02&
)&)*0#3'<.2.?%31%-30#%/)<%)'.3%-$%+$4$*( )&)*0#3'<.2.%&):.$+%-<%\a%R8X%2*%*$3*)( '$5$'% 03% +$0$1/2*$% 0#$% )/2*3% )&2+% .$(
+$*0% 3*% )*02-3+<(/$+2)0$+% 2*01)&$'':')1 0)'%/2&$A!U%b#2&#?%2>%)*<?%3>%0#$.$%.28*)'( =:$*&$%3>%0#$%&$''%.:1>)&$%/3'$&:'$.%0#)0
.28*)'2*8%0#)0%/)<%31%/)<%*30%+$4$*+%3* 2*8%/$&#)*2./.%2.%*$&$..)1<%31%.:>E&2$*0 0#$<%$*&3+$A%\)02$*0.%720#%0#$%M]S%.$(
'3..% 3>% )+#$.23*A!S% a)123:.% 3-.$15)023*. >31%)&)*0#3'<.2.?%0#$21%$@)&0%2*53'5$/$*0 130<4$%)'/3.0%)''%#)5$%)*%:*:.:)'%)''$'$
#)5$% 2/4'2&)0$+% .28*)'2*8?% 7#2&#% /)< 2*% &):.2*8% )&)*0#3'<.2.% 31% 7#$0#$1% 0#$< &)''$+ 6Q@=UC<C>?%)*+%4)02$*0.%720#%0#$
.2/4'<%-$%)..3&2)0$+%720#%)&)*0#3'<.2.%31 )1$% )&025)0$+% ).% )% 1$.:'0% 3>% )&)*0#3'<.2.? MnH%.$130<4$%)'/3.0%)''%#)5$%)%1)1$%)'(
/)<% -$% &):.)'A% _3/$% $@)/4'$.% >3''37[ 1$/)2*.%03%-$%+$0$1/2*$+A '$'$% &)''$+% 6V@=UC?C7A% "#$% 4130$2*
\a% )++$+% 03% 6$1)02*3&<0$.% &):.$.% 4#3.( &#)2*.% $*&3+$+% -<% 0#$.$% )''$'$.% 5)1<
4#31<')023*% 3>% +$./38'$2*% H?% 7#2&#% 2* L787DI<'%7GD:I<DIA8'AH'DB7' >13/%0#3.$%$*&3+$+%-<%0#$%)''$'$.%>3:*+
0:1*% 2.% )..3&2)0$+% 720#% 20.% +2..3&2)023* 2*%deK(M]S%)*+%MnH%&3*013'.%720#3:0
)7?NBIK;G'"??;87'%7GNA8G7
>13/% 4')638'3-2*A!J% \')638'3-2*% 20.$'>? +2.$).$%2*%3*'<%)%>$7%)/2*3%)&2+.A
7#2&#% /)<% -$% 4)10% 3>% .3/$% .28*)'2*8 T3/4)1$+%03%)%/)0&#$+%434:')023*?%4)( "#$.$%LdT%)''$'$.%$*&3+$%&$''%.:1>)&$
4)0#7)<.?% 2.% *$&$..)1<% 2*% &:'0:1$% >31% \a 02$*0.% 720#% \a% #)5$% )% /)16$+'<% 2*( /3'$&:'$.%0#)0%)1$% *$&$..)1<% >31% )*028$*
R8X% 03% &):.$% 1$01)&023*% 3>% 6$1)02*% E')( &1$).$+%>1$=:$*&<%3>%&$10)2*%&')..%RR%/)( 41$.$*0)023*% 03% 0#$% 2//:*$% .<.0$/;
/$*0.?%7#2&#%/)<%-$%)%/)16$1%>31%$)1'< B31% #2.03&3/4)02-2'20<% &3/4'$@% NLdTO 0#$1$>31$?%20%2.%#<430#$.2F$+%0#)0%0#$%+2.(
)&)*0#3'<.2.A`P% \#3.4#31<')023*% 3>% #$)0 )*028$*.A% K/3*8% K.#6$*)F2% l$7.% 720# $).$()..3&2)0$+% LdT% &')..% RR% /3'$&:'$.
.#3&6%4130$2*%`U%2*%&$''.%01$)0$+%720#%\a \a?% 0#$% .$13'382&)''<% +$E*$+% deK(M]S )''37%41$.$*0)023*%3>%+$./38'$2*%P%4$4(
R8X%#).%2/4'2&)0$+%0#$%4P!LK\i%.28*)'( #)4'30<4$% 2.% 41$+3/2*)*0?% 7#$1$).% 2* 02+$.% 03% "% &$''.A!^% T3*.2.0$*0% 720#% 0#2.
2*8%4)0#7)<?%)*+%2*#2-2023*%3>%0#2.%4)0#( 30#$1% $0#*2&% 813:4.% 720#% \a?% 0#$% MnH #<430#$.2.% 2.% 0#$% E*+2*8% 0#)0% &$10)2*
7)<%41$5$*0.%&<03.6$'$0)'%1$318)*2F)023*? )''$'$%2.%/31$%&3//3*A!!%d37$5$1?%0#$ 4$402+$.%>13/%+$./38'$2*%P?%41$+2&0$+%03
!GA
E0% 2*03% 0#$% M]DHoISI`% 4$402+$(-2*+2*8
43&6$0?% 7$1$% )-'$% 03% .02/:')0$% "% &$''.
>13/% 4)02$*0.A^I% W:10#$1/31$?% 2*% 0#2.
-2*+2*8% 43&6$0?% 2>% 3*$% 3>% 0#$% *$8)025$'<
&#)18$+% )/2*3% )&2+.% .4$&2E&% >31% 0#$
M]DHoISI`%.:-0<4$%3>%M]S%7).%&#)*8$+
03%)%43.2025$'<%&#)18$+%)/2*3%)&2+%N&#)1(
)&0$12.02&)''<% 41$.$*0% 2*% 30#$1% .:-(0<4$.
3>% M]SO% -<% .20$(+21$&0$+% /:0)8$*$.2.?
0#$*% 0#$% +$./38'$2*% P% 4$402+$% &3:'+%*3
'3*8$1% -$% $>>$&025$'<% 41$.$*0$+% 03% 0#$% " <
&$''.A% G0#$1% .0:+2$.% #)5$% &3*E1/$+% 0#)0
0#$%2//:*$%1$.43*.$%2*%4$/4#28:.%2.%1$(
.012&0$+% 03% &$10)2*% +$./38'$2*% 4$402+$.
)*+% 2//:*$% 1$.43*.$% 8$*$.% &3+2*8% >31
)*028$*% 41$.$*0)023*% /3'$&:'$.A^H,^P
"#$.$%.0:+2$.%.:88$.0%0#)0%&$10)2*%434:(
')023*.% )1$% .:.&$402-'$% 03% \a% -$&):.$% 3>
0#$% 8$*$02&.% 3>% 0#$21% 2//:*$% 1$.43*.$
8$*$.A%d37$5$1?%)*%:*$@4$&0$+%3-.$15)(
023*% 7).% 0#)0% "% &$''.% 3>% *31/)'% 4$34'$
=
720#% 0#$% M]DHoISI`% 31% MnDHoIJIP% 1$( 56789#,:?.! )7?NBIK;G' P;EK9:IGC' &QD78GIP7
.43*+%B:.0%).%7$''%).%0#3.$%3>%4$/4#28:. 56789#,:?.A )7?NBIK;G'P;EK9:IGC'<B'(E9<<I> 7:AGIA8G'>;7'DA'OEIGD7:I8KC'+E?AGD'DB7'78DI:7'O9<=
4)02$*0.% 03% 0#$% .)/$% +$./38'$2*% P% 4$4( OEIGD7:GC' X2G7>' ZIDB' N7:?IGGIA8' H:A?' ,9Z:78<7 IG' >78;>7>C' -AD7' I8D9<DM' d9<<I>' OEIGD7:G' 9D' DB7
02+$.A!^?^S% "#$1$>31$?% 03% .02/:')0$% "% &$''. ,I7OEI<BM'*!CY'=B'$:9E'7:AGIA8GC EAZ7:'OA:>7:'AH'7:A>7>'E7GIA8GC'
2*% 4$/4#28:.% &$10)2*% 2//:*$% 1$.43*.$
8$*$.%)1$%*$&$..)1<%-:0%)1$%*30%.:>E&2$*0A )12.$.% 3*% *31/)'()44$)12*8% .62*?% -:0% 20 5$8$0)02*8%0<4$%3>%1$.43*.$%/)<%)'.3%)4(
"#$%>)&031%0#)0%/)<%+$0$1/2*$%7#3%8$0. /)<% +$5$'34% 3*% $1<0#$/)03:.% .62*A 4$)1%2*%&$10)2*%'$.23*.%0#)0%0$*+%03%-$%1$(
4$/4#28:.%)*+%7#3%+3$.%*30%2.%0#$%41$.( c5$*% *$7% -'2.0$1.% )1$% :.:)''<% 9)&&2+% 31 .2.0)*0%03%0#$1)4<%)*+%1$/)2*%>31%'3*8%4$(
$*&$% 3>% 1$8:')031<% "% &$''.% 0#)0% &)*% .:4( -$&3/$%.3%720#2*%)%.#310%02/$A%D$&):.$ 123+.% 3>% 02/$% 2*% 3*$% 4')&$A% "#:.?
41$..%0#$%):032//:*$%1$.43*.$%2*%0#3.$ 0#$.$% -'2.0$1.% )1$% >1)82'$?% 2*0)&0% -'2.0$1. 5$8$0)02*8% '$.23*.% .$$/% 03% -$% 3*$% 1$)&(
7#3%+3%*30A!^?^J /)<%-$%.4)1.$A%"#$%/3.0%&3//3*%.62* 025$% 4)00$1*% 3>% 0#$% .62*% 03% 0#$% ):032/(
_2/2')1?% -:0% '$..% 1$.012&0$+?% deK(M] '$.23*.% 0#)0% 3&&:1% 2*% 0#$.$% 4)02$*0.% )1$ /:*$% 2*.:'0% 3>% \a?% 720#% &$10)2*% )1$).% 3>
)''$'$.%)1$%)..3&2)0$+%720#%\WA^V $13.23*.?% 3>0$*% 4)2*>:'?% .:-.$=:$*0% 03 0#$%.62*%.#372*8%/31$%3>%)%0$*+$*&<%03
K.% 3443.$+% 03% 0#$% )*028$*(41$.$*02*8 -136$*%-'2.0$1.A%"#$.$%$13.23*.%)1$%3>0$* >31/%5$8$0)023*.A
2//:*$%1$.43*.$%8$*$.%+2.&:..$+%)-35$? =:20$% ')18$?% ).% 0#$<% #)5$% )% 0$*+$*&<% 03
0#$1$%2.%/31$%#$0$138$*$20<%3>%0#$% "(&$'' .41$)+% )0% 0#$21% 4$124#$1<% NW28A% J`(SOA K80C8M,K#K=9<E#M R*% 0#$% /)B3120<% 3>
1$&$4031% 5)12)-'$% 8$*$% :.)8$?% )'0#3:8# "#2.% &#)1)&0$12.02&% E*+2*8% &)*% -$% $'2&( 4)02$*0.?% 4)2*>:'% /:&3:.% /$/-1)*$% $13(
0#$1$%/)<%-$%.3/$%1$.012&023*A^S?^U 20$+% 2*% 4$/4#28:.% 4)02$*0.% 720#% )&025$ .23*.% )1$% 0#$% 41$.$*02*8% .28*% 3>% \a% )*+
K% /3:.$% /3+$'% 3>% \a% .:44310.% 0#$ -'2.0$12*8% -<% )44'<2*8% ')0$1)'% 41$..:1$ /)<%-$%0#$%3*'<%.28*%>31%)*%)5$1)8$%3>%J
2/4310)*&$%3>% -30#% "%)*+%D% &$''.% 2*% 2*( 03%*31/)'()44$)12*8%.62*%)0%0#$%4$124#( /3*0#.% -$>31$% .62*% '$.23*.% +$5$'34% N.$$
+:&2*8% )&025$% +2.$).$A% e3..% 3>% 03'$1)*&$ $1<%3>%)&025$%'$.23*.A%"#$%1$.:'0%2.%)%.#$)1( W28A% J`(PDOAS% d37$5$1?% 0#$% 41$.$*02*8
3>%-30#%0#$%D%)*+%"%&$''?%2*%0#2.%/3+$'?%2. 2*8% )7)<% 3>% 0#$% $42+$1/2.% 2*% *31/)'( .</403/.% /)<% 5)1<% )&&31+2*8% 03% 8$3(
*$&$..)1<% >31% +2.$).$% )&02520<% 03% +$( )44$)12*8% )1$).?% )% 4#$*3/$*3*% 6*37* 81)4#2&%)1$);%>31%$@)/4'$%2*%)%.0:+<%>13/
5$'34A^!% "#$.$% E*+2*8.% )1$% &3*.2.0$*0 ).% 0#$% H32/%.2T' .30,WHII% "#2.% .28*% #$'4. T13)02)?%4)2*>:'%31)'%'$.23*.%7$1$%0#$%41$(
720#%0#$% 2/4310)*&$%3>% )*028$*% 41$.$*( +2>>$1$*02)0$%4$/4#28:.%>13/%30#$1% -'2.( .$*02*8% .</403/% 2*% 3*'<% P`% 4$1&$*0% 3>
0)023*%03%"%&$''.%+2.&:..$+%)-35$A 0$12*8%+2.$).$.%3>%0#$%.62*%ND3@%J`(HOA 4)02$*0.A% L3.0% 3>% 0#$.$% 4)02$*0.% 413(
W2*)''<?%8$*$02&%&'3*2*8%3>%/3*3&'3*)' R*%&$10)2*%4)02$*0.?%$13.23*.%#)5$%)%0$*( 81$..$+%03%)%/31$%8$*$1)'2F$+%$1:4023*%2*
)*02(+$./38'$2*% )*02-3+2$.% >13/% )% \a +$*&<% 03% +$5$'34% $@&$..25$% 81)*:')023* J% /3*0#.% 03% H% <$)1;% #37$5$1?% .3/$% #)+
4)02$*0%.#37.%)%/)16$+%8$*$02&%1$.012&( 02..:$% )*+% &1:.02*8% NW28A% J`(JO;% 0#)0% 2.? 31)'%'$.23*.%>31%/31$%0#)*%J%<$)1.%-$>31$
023*%2*%)*02-3+<%8$*$%:.)8$%2*%0#$%)*02( 0#$.$% 4)02$*0.% +2.4')<% /31$% 5$8$0)02*8 8$*$1)'2F)023*AHH% G*% 0#$% 30#$1% #)*+?% 2*
+$./38'$2*% )*02-3+2$.A^^% "#2.% 1$.012&( '$.23*.A%"#2.%0<4$%3>%'$.23*%0$*+.%03%3&&:1 "$#1)*?% V`% 4$1&$*0% 3>% 4)02$*0.% 41$.$*0$+
023*%2.%/3.0%/)16$+%>31%0#$%#$)5<%&#)2* /31$% >1$=:$*0'<% 2*% 2*0$101282*3:.% )1$).? 720#% 31)'% '$.23*.A^% "#$% /:&3:.% /$/(
5)12)-'$%8$*$A 2*%0#$%.&)'4?%31%3*%0#$%>)&$%N.$$%W28A%J`(JKOA -1)*$.% /3.0% 3>0$*% )>>$&0$+% )1$% 0#3.$% 3>
R*% 4$/4#28:.% 5$8$0)*.% 3>% d)''34$):? 0#$% 31)'% &)520<?% 7#2&#% 2.% 2*53'5$+% 2*% )'(
5$8$0)02*8% '$.23*.% )1$% 41$.$*0% >13/% 0#$ /3.0%)''%4)02$*0.%720#%\a%)*+%2.%3>0$*%0#$
/,"-"/+,'*+-"(+4"$-# 3:0.$0%3>%+2.$).$%N.$$%W28A%J`(JDOA%D$>31$ 3*'<%/:&3:.%/$/-1)*$%2*53'5$+%N.$$%W28A
0#$%)+5$*0%3>%$>>$&025$%0#$1)4<%>31%4$/( J`(PDOA% R*0)&0% -'2.0$1.% )1$% 1)1$?% 413-)-'<
)7?NBIK;G'1;EK9:IG
4#28:.?% 0#$% 4138*3.2.% >31% 0#$.$% 4)02$*0. -$&):.$%0#$<%)1$%>1)82'$%)*+%-1$)6%$).2'<A
MQ6E "#$% .62*% '$.23*.% 2*% \a% )1$% 1)1$'< 7).%*30%).%81)5$%).%0#)0%>31%4)02$*0.%720# _&)00$1$+% )*+% 3>0$*% $@0$*.25$% $13.23*.
41:1202&?%-:0%)1$%3>0$*%4)2*>:'AH%"#$%412( 0#$% /31$% :.:)'% 0<4$% 3>% \aA% R*% 30#$1% 4)( /)<%)44$)1%3*%)*<%4)10%3>%0#$%31)'%&)520<?
/)1<% '$.23*% 3>% \a% 2.% )% 9)&&2+% -'2.0$1? 02$*0.%N$A8A?%0#3.$%720#% 4$/4#28:.% 5$8$( )'0#3:8#% 0#$<% 4$1#)4.% 3&&:1% /3.0% >1$(
7#2&#%/)<%3&&:1%)*<7#$1$%3*%0#$%.62* 0)*.%3>%Q$:/)**O?%31+2*)1<%\a%$13.23*. =:$*0'<%3*%0#$%-:&&)'%/:&3.)A%"#$.$%$13(
.:1>)&$% NW28A% J`(POA% C.:)''<?% 0#$% -'2.0$1 /)<% 0$*+% 03% +$5$'34% 5$8$0)023*.A% "#$ .23*.%/)<%.41$)+%03%2*53'5$%0#$%4#)1<*@
!G!
#*+&',)( $@)&$1-)023*% 3>% +2.$).$% -<% 0#$% .:*?% )*+
0#$% &1:.0$+% '$.23*.% 0#)0% /)6$% 0#$% 4)(
!-@@"*".,-&'(!-&+.%#-#(%@(5"$DO-+># 02$*0.%)44$)1%).%2>%0#$<%#)+%-$$*%-:1*$+A
H#KHL678M,M8=NPH#M KC8NL,8D0#9MR#9CM6CE,S6NLC8N,
)7?NBIK;G'P;EK9:IG <8NC<EN6=C/6#M H#KHL678M,#9PNL#K<NCM8M K'.3%6*37*
n')7?NBIK;G'P7K7D98G +NBDBA;G';E<7:G ). K&,&"+)X.*&+' .T,(+/!&?% 4$/4#28:.
)7?NBIK;G'HAEI9<7;G /98>I>I9GIG $1<0#$/)03.:.% 2.% .2/4'<% 0#$% '3&)'2F$+
n')7?NBIK;G'7:FDB7?9DAG;G ,I<B78'NE98;G >31/%3>%\WA%"<42&)'%.&)'<%)*+%&1:.0$+%'$(
n'&8>7?I<'N7?NBIK;G'HAEI9<7;G'X7CKCM'HAKA' 37Bo7D'>IG79G7 .23*.%3>%\W%3&&:1%)&13..%0#$%/)')1%)1$)%3>
G7EP9K7?Y 0#$% >)&$% )*+% 2*% 30#$1% .$-311#$2&% )1$).A
"??;8AKEAO;EI8'+'X"K+Y'N7?NBIK;G M8=.#H6/#9K<D,=D6MN#96E7,/6M#<M#M, \$/4#28:.% $1<0#$/)03.:.% /)<% 1$/)2*
n'#;O<A:879E'N;GD;E9:'>7:?9DAGIG S6NL,<8NC<EN6=C/6#M '3&)'2F$+%>31%<$)1.?%31%20%/)<%$53'5$%2*03
n'"8D:97NI>7:?9E'87;D:ANBIEI<'>7:?9DAGIG 3;EEA;G'N7?NBIKAI> /31$%8$*$1)'2F$+%\WA%R>%0#$1$%2.%)%:*2=:$
).4$&0%3>%4$/4#28:.%$1<0#$/)03.:.?%20%2.
)9:987ANE9GDI<'N7?NBIK;G 07:N7G'K7GD9DIA8IG
0#$% 2//:*39:31$.&$*&$% E*+2*8.% *30$+
/I<9D:I<I9E'N7?NBIKAI>
2*%R//:*34)0#3'38<A
6EN9<#H6/#9K<D,=D6MN#96E7,/6M#<M#M, &NI>7:?AEFGIG'O;EEAG9'9<W;IGID9
R*%)++2023*?%/)*<%4)02$*0.%720#%4$/(
S6NLC8N,<8NC<EN6=C/6#M ,I879:'"K+'>IG79G7'98>'<B:A8I<'O;EEA;G'
4#28:.% $1<0#$/)03.:.% .#37% .$13'382&
(9?IEI9E'O78IK8'N7?NBIK;G'X09IE7F.09IE7F' >IG79G7'AH'<BIE>BAA>
E*+2*8.% .:88$.025$% 3>% .<.0$/2&% ':4:.
>IG79G7Y !7:?9DIDIG'B7:N7DIHA:?IG
$1<0#$/)03.:.?% $.4$&2)''<% 0#$% 41$.$*&$
3;EEA;G'I?N7DIKAM'GD9NBFEA<A<<9E'G<9E>7>. 3;EEA;G'E;N;G'7:FDB7?9DAG;G
3>%)*02(*:&'$)1%)*02-3+2$.?%)'0#3:8#%>$7
G=I8'GF8>:A?7
4)02$*0.% #)5$% -$$*% 1$4310$+% 03% )&0:)''<
3EIGD7:G'H:A?'B7:N7G'GI?NE7Q'98>'JAGD7: M8=.#H6/#9K<D,=D6MN#96E7,/6M#<M#M,
#)5$%0#$%073%+2.$).$.%&3*&:11$*0'<AHIV
+EE7:KI<'<A8D9<D'>7:?9DIDIG'X7CKCM':B;G' S6NLC8N,<8NC<EN6=C/6#M
>7:?9DIDIGY &:FDB7?9'?;EDIHA:?7
&NI>7:?AEFGIG'O;EEAG9'GI?NE7Q 4AQI<'7NI>7:?9E'87<:AEFGIG -7A89D9E')7?NBIK;G
"8<A8DI878DI9'NIK?78DI )A:NBF:I9
R*>)*0.% -31*% 03% /30#$1.% 720#% \a% /)<
&NI>7:?AEFGIG'O;EEAG9
+2.4')<%&'2*2&)'?%#2.03'382&?%)*+%2//:*3(
4)0#3'382&%.28*.%3>%4$/4#28:.AJJ?HIU%"#$
)*+% ')1<*@% 720#% .:-.$=:$*0% #3)1.$*$..A )*:.?%4$*2.?%5)82*)?%)*+%')-2)A^?HIH?HI`%c5$* +$81$$%3>%2*53'5$/$*0%5)12$.%>13/%*3*$
G>0$*?% 0#$.$% $13.23*.% )1$% .3% :*&3/>310( 0#$%$.34#)8:.%#).%-$$*%1$4310$+%03%-$%2*( 03%.$5$1$%$*3:8#%03%1$.:'0%2*%)%.02''-210#A
)-'$%)*+?%2*%>)&0?%4)2*>:'%0#)0%0#$%4)02$*0%2. 53'5$+%2*%:*:.:)'%&).$.AHIP R>%0#$%2*>)*0%.:1525$.?%+2.$).$%0$*+.%03%1$(
:*)-'$%03%$)0%31%+12*6%)+$=:)0$'<A _62*% 2*53'5$/$*0% 720#3:0% /:&3:. /20%).%/)0$1*)'%)*02-3+<%2.%&)0)-3'2F$+A
L:&3:.%/$/-1)*$.%2*%30#$1%)1$).%/)< /$/-1)*$%2*53'5$/$*0%2*%\a%2.%:*:.:)' L30#$1.%720#%\W%/)<%)'.3%01)*./20%0#$21
)'.3% -$% 2*53'5$+% 720#% 4)2*>:'% $13.23*.; )*+% )&&3:*0.% 2*% 3*$% .0:+<% >31% 3*'<% HH ):03)*02-3+2$.% 03% 0#$% >$0:.?% -:0?% ).% +2.(
0#$.$% 2*&':+$% *).)'% /:&3.)?% &3*B:*&025)? 4$1&$*0%3>%&).$.A^?HIS &:..$+%2*%\)0#34#<.23'38<%3>%K&)*0#3'<(
.2.?% *$3*)0)'%\W%3&&:1.%3*'<%1)1$'<AHI!,HHI
Q$3*)0)'% 4$/4#28:.% .#3:'+% -$% +2.02*(
)7?NBIK;G'(AEI9<7;G 8:2.#$+% >13/% \a% )*+% \W% 0#)0% 3&&:1% 2*
MQ6E "#$%&#)1)&0$12.02&%&'2*2&)'%'$.23*.%3> '+#33+?% 7#2&#% )1$% .2/2')1% 03% 0#$% ):(
\W%)1$%.&)'<?%&1:.0$+%$13.23*.?%3>0$*%3*%)* 032//:*$%+2.$).$.%.$$*%2*%)+:'0.AHHH
$1<0#$/)03:.% -).$A`?HIJ% R*% /31$% '3&)'(
2F$+% )*+% $)1'<% +2.$).$?% 0#$.$% '$.23*.% )1$
!:;K."8>;<7>')7?NBIK;G
:.:)''<%7$''%+$/)1&)0$+%)*+%.&)00$1$+%2*
)% .$-311#$2&% +2.012-:023*?% 2*&':+2*8% 0#$ K'0#3:8#%0#$1$%)1$%.431)+2&%&).$%1$4310.
>)&$?%.&)'4?%)*+%:44$1%01:*6%NW28A%J`(VKOA 3>%4$/4#28:.%)..3&2)0$+%720#%0#$%:.$%3>
"#$%412/)1<%'$.23*.%3>%./)''%9)&&2+%-'2.( .$5$1)'% +2>>$1$*0% +1:8.?% 0#$% )..3&2)023*
0$1.%)1$%3>0$*%2*&3*.42&:3:.%)*+%+2>E&:'0 720#% 4$*2&2'')/2*$?% )*+% 4$1#)4.% &)403(
< 03% E*+A% M2.$).$% /)<% .0)<% '3&)'2F$+% >31 412'?%2.%0#$%/3.0%.28*2E&)*0AHH`%"#$%41$5)(
<$)1.?%31%20%/)<%1)42+'<%41381$..%03%.3/$( '$*&$% 3>% 4$/4#28:.% 2*% 4$*2&2'')/2*$% :.(
02/$.% 8$*$1)'2F$+% 2*53'5$/$*0?% 1$.:'02*8 $1.%2.%$.02/)0$+%03%-$%)4413@2/)0$'<%U
2*%)*%$@>3'2)025$%$1<0#13+$1/)%NW28A%J`(VDOA 4$1&$*0A% \W% N2*&':+2*8% 4$/4#28:.
c@43.:1$%03%.:*?%#$)0?%31%-30#%/)<%$@)&( $1<0#$/)03.:.O% 2.% /31$% &3//3*% 0#)*
$1-)0$% +2.$).$% )&02520<A% \)02$*0.% 720#% \W \a% 2*% 0#$.$% 4$*2&2'')/2*$(01$)0$+% 4)(
3>0$*%&3/4')2*%3>%4)2*%)*+%-:1*2*8%2*%0#$ 02$*0.?% )'0#3:8#% $20#$1% /)<% 3&&:1A% "#$
.62*% '$.23*.A% R*% &3*01).0% 03% 4)02$*0.% 720# E*+2*8.% 3>% +21$&0% )*+% 2*+21$&0% 2//:*3(
\a?%0#3.$%720#%\W%3*'<%5$1<%1)1$'<?%2>%$5$1? 9:31$.&$*&$%)1$%43.2025$%2*%/3.0%3>%0#$.$
#)5$% /:&3:.% /$/-1)*$% 2*53'5$/$*0? 4)02$*0.A% "#1$$% 4)02$*0.% 720#% +1:8(2*(
$5$*%720#%72+$.41$)+%+2.$).$A +:&$+%\W%)*+%3*$%720#%+1:8(2*+:&$+%\a
= "#$% &3''3=:2)'% 0$1/% >31% D1)F2'2)*% $*( #)5$%-$$*%.#37*%03%#)5$%):03)*02-3+2$.
+$/2&%4$/4#28:.?%>383%.$'5)8$/%N\310:( 03% 0#$% .)/$% /3'$&:'$.% 2*53'5$+% 2*% .43(
56789#,:?.: <B' /:;GD7>M' P7K7D9DI8K' E7GIA8G 8:$.$%>31%Y72'+%E1$ZO?%0)6$.%2*03%)&&3:*0 1)+2&% 4$/4#28:.?% *)/$'<?% +$./38'$2*% H
I8' N7?NBIK;G' P;EK9:IGC' =B' &QD78GIP7M' P7K7D9DI8K /)*<% 3>% 0#$% &'2*2&)'% ).4$&0.% 3>% 0#2.% +2.( )*+%+$./38'$2*%P?%1$.4$&025$'<AHHP%"#$1$(
K:98;EA?9DA;G'E7GIA8G'I8'N7?NBIK;G'P7K7D98GC $).$[%0#$%-:1*2*8%>$$'2*8%3>%0#$%.62*?%0#$ >31$?%-<%2//:*39:31$.&$*&$%)*+%2//:( !G:
< =
56789#,:?.G )7?NBIK;G'HAEI9<7;GC'<B'#<9EFM'<:;GD7>'E7GIA8G'A8';NN7:'O9<=C'=B,&QHAEI9DIP7'7:FDB:A>7:?9'>;7'DA'<A8d;78D'E7GIA8GC
*3&#$/2&)'% +$0$1/2*)023*.?% 0#$.$% 4)( K'0#3:8#% 5$1<% :*&3//3*?% \a% 31% \W $3.2*34#2'.AH% c)1'<% \a% '$.23*.% /)<
02$*0.% 720#% +1:8(2*+:&$+% 4$/4#28:. #).% -$$*% )..3&2)0$+% 720#% -:''3:.% 4$/( .#37%$3.2*34#2'2&%.43*823.2.AHH^
1$.$/-'$%0#3.$%720#%.431)+2&%+2.$).$A 4#2832+% 2*% 0#$% .)/$% 4)02$*0AHHJ% W2*)''<?
D30#%4$*2&2'')/2*$%)*+%&)403412'%&3*( \a% #).% 1)1$'<% $53'5$+% 2*03% \W?% )*+% 52&$
0)2*%.:'>#<+1<'%813:4.%0#)0%/)<%2*0$1)&0 5$1.)?% ).% +$0$1/2*$+% -<% &'2*2&)'?% #2.03( )7?NBIK;G'(AEI9<7;G
720#% 0#$% .:'>#<+1<'% 813:4.% 2*% +$./3( '382&?%)*+%2//:*3&#$/2&)'%&120$12)AHHV,HH! "#$%#2.034)0#3'38<%3>%$)1'<%-'2.0$1.%2*%\W
8'$2*%H?%P?%31%-30#?%0#$1$-<%&):.2*8%4$/( 4)02$*0.% +$/3*.01)0$.% )&)*0#3'<.2.% N'3..
4#28:.% $20#$1% -<% +21$&0'<% 2*0$1>$12*8 3>%&$''(03(&$''%&3*0)&0O%B:.0%-$'37%0#$%.01)(
720#%0#$.$%)+#$.23*%/3'$&:'$.%31?%/31$ 0"#4$)+40$,$L\
0:/% &31*$:/% )*+% 2*% 0#$% 81)*:')1% ')<$1
'26$'<?% -<% /3+2><2*8% 0#$/% .3% 0#)0% 0#$< )7?NBIK;G'1;EK9:IG NW28A%J`(!KOA "#$%.01)0:/%&31*$:/%2.%3>(
-$&3/$% /31$% )*028$*2&A% "#$% :.$% 3> 0$*%'3.0%>13/%0#$%.:1>)&$%3>%0#$.$%'$.23*.A
0#$.$% +1:8.% /)<% )'.3% '$)+% 03% )% /31$ "#$% &#)1)&0$12.02&% #2.034)0#3'382&% E*+(
"#$%+$$4$1%$42+$1/2.?%-$'37%0#$%81)*:(
8$*$1)'2F$+% +<.1$8:')023*% 3>% 0#$% 2/( 2*8% 2*% \a% 2.% )% .:41)-).2')1% -'2.0$1% 720#
')1% ')<$1?% 1$/)2*.% 2*0)&0A K*30#$1% >1$(
/:*$% 1$.43*.$?% )''372*8% 413+:&023*% 3> )&)*0#3'<.2.% NW28A% J`(UOA% l:.0% )-35$% 0#$
=:$*0% E*+2*8% 2.% .:-(&31*$)'% 4:.0:'$.?
30#$1% ):03)*02-3+2$.% .:&#% ).% 0#3.$% 1$( -).)'%&$''%')<$1?%$42+$1/)'%&$''.%'3.$%0#$21
720#%*$:0134#2'.%)*+%)&)*0#3'<02&%$42+$1(
.:'02*8% 2*% /<).0#$*2)% 81)52.A% L3.0?% -:0 *31/)'% &$''(03(&$''% &3*0)&0.% )*+% >31/% )
/)'%&$''.%2*%0#$%-'2.0$1%&)520<%NW28A%J`(!DOA
*30%)''?%4)02$*0.%720#%+1:8(2*+:&$+%4$/( -'2.0$1A% G>0$*?% )% >$7% 13:*+$+% :4% N)&)*(
"#$.$% #2.03'382&% E*+2*8.% )1$% 2*+2.02*(
4#28:.%83%2*03%1$/2..23*%)>0$1%0#$<%.034 0#3'<02&O%6$1)02*3&<0$.%)1$%2*%0#$%-'2.0$1
8:2.#)-'$%>13/%0#3.$%.$$*%2*%-:''3:.%2/(
0)62*8%0#$%3>>$*+2*8%+1:8A &)520<A% "#$% -).)'% &$''.% .0)<% )00)&#$+% 03
4$0283A% \$/4#28:.% $1<0#$/)03.:.% #).
0#$% -).$/$*0% /$/-1)*$?% -:0% /)<% '3.$
#2.03'382&% E*+2*8.% 2+$*02&)'% 03% 0#3.$% 3>
0#$%&3*0)&0%720#%0#$21%*$28#-31.;%).%)%1$(
+GGA<I9D7>'!IG79G7G \WA%K.%2*%\a%'$.23*.?%5$1<%$)1'<%\W%'$.23*.
.:'0?% 0#$<% /)<% )44$)1% 03% -$% )% Y137% 3>
/)<%.#37%$3.2*34#2'2&%.43*823.2.AHH^
03/-.03*$.AZ%C.:)''<?%0#$%:44$1%$42+$1(
L<).0#$*2)% 81)52.?% 0#</3/)?% 31% -30#
/2.% N>13/% 3*$% 31% 073% &$''% ')<$1.% )-35$
#)5$%-$$*%)..3&2)0$+%720#%\a%)*+%\WAHHS
0#$% -).)'% &$''.O% 1$/)2*.% 2*0)&0?% ).% 0#$.$ )%$L-$#"#'+-!'
K4413@2/)0$'<% 3*$(#)'>% 3>% )..3&2)0$+
4$/4#28:.% &).$.% )1$% 5:'8)12.;% 3*$(#)'>?
&$''.% /)2*0)2*% 0#$21% &$''% )+#$.23*A% \$/( /,"-"/+,'/$2%#&
4#28:.% 5$8$0)*.% .#37.% *30% 3*'<% .:41)(
>3'2)&$:.% 31% $1<0#$/)03.:.A% L3.0% 3> D$>31$% 0#$% )+5$*0% 3>% 8':&3&3102&32+
-).2')1%)&)*0#3'<.2.?%-:0%)'.3%4)42''3/)(
0#$.$%+)0)?%#37$5$1?%7$1$%1$4310$+%-$( 0#$1)4<?%\a%7).%)'/3.0%2*5)12)-'<%>)0)'?
03.2.% 3>% 0#$% +$1/)'% 4)42'')$% )*+
>31$% 0#$% 1$&38*2023*% 3>% 4)1)*$34').02& )*+% \W% 7).% >)0)'% 2*% )4413@2/)0$'<% VI
+37*7)1+% 81370#% 3>% $42+$1/)'% .0)*+.
4$/4#28:.% ).% )% +2.02*&0% $*020<A% "#$1$( 4$1&$*0% 3>% 4)02$*0.A% \W% 7).% )'/3.0% )'(
2*03% 0#$% +$1/2.?% 720#% #<4$16$1)03.2.
>31$?%)'0#3:8#%0#</3/)%/)<%&'$)1'<%-$ 7)<.%>)0)'%2*%$'+$1'<%4)02$*0.%720#%&3*(
)*+% .&)'$(&1:.0% >31/)023*A% R*% )++2023*?
)..3&2)0$+% 720#% \a% )*+% \W?% 20% /)<% )'.3 &:11$*0% /$+2&)'% 413-'$/.;% #37$5$1?% 2*
4$/4#28:.% 5$8$0)*.% '$.23*.% /)<% .#37
-$%)..3&2)0$+%720#%4)1)*$34').02&%4$/( 30#$1% 4)02$*0.% 20.% 4138*3.2.?% 720#3:0
2*01)$42+$1/)'% )-.&$..$.% &3/43.$+% 3>
4#28:.% N.$$% T#)4A% JPOA% "#$% &3:1.$% 3> 0#$1)4<?%7).%/:&#%-$00$1%0#)*%\aAH`I?H`H
/<).0#$*2)% 81)52.% )*+% 0#$% &3:1.$% 3> "#$% .<.0$/2&% )+/2*2.01)023*% 3>% 8':&3(
4$/4#28:.% .$$/% 2*+$4$*+$*0% 3>% $)&# &3102&32+.%)*+%0#$%:.$%3>%2//:*3.:441$.(
30#$1A%e26$72.$?%0#$%0#</2&%)-*31/)'20< .25$% 0#$1)4<% #)5$% +1)/)02&)''<% 2/4135$+
/)<% $20#$1% 41$&$+$% 31% >3''37% 0#$%3*.$0 0#$% 4138*3.2.% >31% 4)02$*0.% 720#% 4$/4#2(
3>%4$/4#28:.A%"#</2&%)-*31/)'202$.%2*( 8:.;%#37$5$1?%4$/4#28:.%2.%.02''%)%+2.$).$
&':+$% -$*28*% 31% /)'28*)*0% 0#</3/) )..3&2)0$+% 720#% )% .28*2E&)*0% /31-2+20<
)*+% 0#</2&% #<4$14').2)A% R11)+2)023*% 3> )*+%/310)'20<AH``?H`P%R*>$&023*%2.%3>0$*%0#$
0#$% 0#</:.% 31% 0#</$&03/<?% )'0#3:8# &):.$%3>%+$)0#?%)*+%-<%&):.2*8%0#$%2//:(
&'$)1'<%-$*$E&2)'%>31%/<).0#$*2)%81)52.? *3.:441$..23*%*$&$..)1<%2*%0#$%01$)0/$*0
/)<% *30% 2/4135$% 0#$% 4$/4#28:.% +2.( 3>% )&025$% +2.$).$?% 0#$1)4<% 2.% >1$=:$*0'<% )
$).$% )&02520<A% K'0#3:8#% 0#2.% )..3&2)023* &3*012-:02*8%>)&031AH`S%b20#%8':&3&3102&32+
2.%1$4310$+%2*%)0%'$).0%PI%&).$.?%0#$%E*+( 56789#,:?." 0IGDAN9DBAEAKF' AH' N7?NBIK;G )*+% 2//:*3.:441$..25$% 0#$1)4<?% 0#$
2*8%3>%0#</3/)%31%/<).0#$*2)%81)52.%2* P;EK9:IGC' #;N:9O9GIE9:' 9<98DBAEFGIGC' 4B7' :AZ' AH /310)'20<%N>13/%+2.$).$%31%0#$1)4<O%3>%\a
!GG )%4)02$*0%720#%\a%31%\W%2.%.02''%:*:.:)'A DA?OGDA87GC 4)02$*0.%>3''37$+%>13/%S%03%HI%<$)1.%2.%)4(
]$.:'0.% 3-0)2*$+% -<% :.2*8% 41$+*2.3*$
)*+% 2//:*3.:441$..25$% )8$*0.% 03% 01$)0
4)02$*0.% 720#% \a?% )'0#3:8#% *30% &3*(
013''$+?%#)5$%-$$*%2/41$..25$A%W31%$@)/(
4'$?%2*%)%.$12$.%3>%`^%4)02$*0.%01$)0$+%720#
41$+*2.3*$% )*+% )F)0#23412*$?% )4413@2(
/)0$'<%JI%4$1&$*0%7$*0%2*03%&'2*2&)'%)*+
.$13'382&% 1$/2..23*% )*+% &3*02*:$+% 3>>
0#$1)4<% >31% )% /$)*% >3''37(:4% 3>% S
< = <$)1.AP`% L)*<% 3>% 0#$.$% 4)02$*0.% 7$1$
56789#,:?.4 0IGDAN9DBAEAKF'AH'N7?NBIK;G'HAEI9<7;GC'<B'+<98DBAEFGIG'I8'DB7'K:98;E9:'E9F7:C'=B'#;O. &3*.2+$1$+% &:1$+A% G*'<% 3*$% 4)02$*0% 2*
<A:879E'N;GD;E7'ZIDB'9<98DBAEFGIGC' 0#2.%.0:+<%+2$+%-$&):.$%3>%&3/4'2&)023*.
3>% 0#$1)4<A% "#$% +2.$).$% )&02520<% 3>% /3.0
413@2/)0$'<% HI% 4$1&$*0% 31% '$..?% 7#$1$). 3//$*+$+% >31% 0#$1)4<A% Q37?% #37$5$1? 3>%0#$%30#$1%4)02$*0.%7).%7$''%&3*013''$+A
0#)0%3>%\W%2.%413-)-'<%$5$*%'$..A%R*%)%/31$ >$7% ):0#31202$.% 1$&3//$*+% .:&#% #28# L<&34#$*3')0$% /3>$02'% #).% -$$*
1$&$*0%.0:+<%3>%SI%4)02$*0.%720#%\a?%`%4)( +3.$.?%)*+%/)*<%>$$'%0#)0%2*0$1/$+2)0$%31 .#37*%03%#)5$%)%1)42+%$>>$&0%2*%'37$12*8
02$*0.% NJ% 4$1&$*0O% +2$+% 3>% .$4.2.% )*+% HU '37% +3.$.?% $.4$&2)''<% 2>% :.$+% 2*% &3/-2*)( 4$/4#28:.% )*02-3+<% 020$1.% )*+% 03% +$(
4$1&$*0?%)>0$1%)*%)5$1)8$%3>%H!%/3*0#.%3> 023*% 720#% 2//:*3.:441$..25$% 0#$1)4< &1$).$% +2.$).$% )&02520<?% $5$*% 2*% 4)02$*0.
0#$1)4<?% 7$*0% 2*03% )% &3/4'$0$% )*+% '3*8( )*+?% 2>% *$&$..)1<?% 720#% 03'$1)*&$% 3>% .3/$ 7#3.$%+2.$).$%2.%:*1$.43*.25$%03%)F)0#23(
').02*8%Np%S%<$)1.?%)5$1)8$?%0#3:8#0%03%-$ 1$.2+:)'% +2.$).$% )&02520<?% 1$.:'0% 2*% >$7$1 412*$AHP`,HPS%K.%20%413-)-'<%#).%>$7$1%)+(
4$1/)*$*0O%1$/2..23*%1$=:212*8%*3%>:10#$1 &3/4'2&)023*.% )*+% +$&1$).$+% /310)'( 5$1.$% 1$)&023*.% 0#)*% )F)0#23412*$?% 20% #).?
0#$1)4<AH`J%K*30#$1%PU%4$1&$*0%3>%4)02$*0. 20<AU?H`S?H`!?H`^% d37$5$1?% .3/$% $@4$10.% 2* 2*%.3/$%&$*0$1.?%1$4')&$+%)F)0#23412*$%).
)$5$+% 1$/2..23*% -:0% 1$')4.$+% )0% 02/$. 4$/4#28:.%.02''%1$&3//$*+%&3*013''2*8%)&( )%E1.0('2*$%)8$*0%2*%01$)02*8%0#$.$%4)02$*0.A
)>0$1%0#$1)4<%7).%.0344$+;%/3.0%3>%0#$.$ 025$%+2.$).$%2*202)''<%720#%$.&)')02*8%+3.$. T<&'34#3.4#)/2+$?% )'0#3:8#% /31$
)'.3% $5$*0:)''<% )$5$+% '3*8(').02*8% 1$( 3>%41$+*2.3*$AH`H?HPI%G*&$%+2.$).$%)&02520< 03@2&% 0#)*% )F)0#23412*$%31% /<&34#$*3(
/2..23*.A% "#$% 1$/)2*+$1% 3>% 4)02$*0.% 1$( 2.% &3*013''$+?% 0)4$12*8% 41$+*2.3*$% 03% ). ')0$%/3>$02'?%2.%0#3:8#0%03%-$%5$1<%$>>$&(
=:21$+% &3*02*:)'% 0#$1)4<A% R*% )% 813:4% 3> '37%)%+3.$%).%43..2-'$%.#3:'+%-$%0#$%83)'A% 025$% 2*% &3*013''2*8% .$5$1$% +2.$).$?% 720#
HJ^% 4)02$*0.% 720#% \a% >13/% T13)02)?% 3*'< R*0$1$.02*8'<?% 41$+*2.3*$% &)*% &3*013' 3*$% 1$4310% 3>% H^% 3>% `P% 4)02$*0.% 720#
)4413@2/)0$'<%H`%4$1&$*0%7$*0%2*03%'3*8( -'2.0$12*8% 2*% ).% >$7% ).% .$5$1)'% +)<.?% )0% ) 4$/4#28:.% )$52*8% &3/4'$0$% 1$/2.(
0$1/% 1$/2..23*% )>0$1% 0#$1)4<% 720#% 8':&3( 02/$% 7#$*% 0#$% ):03)*02-3+<% 020$1% 73:'+ .23*%2*%)%/$+2)*%02/$%3>%!AJ%/3*0#.AHPJ
&3102&32+.% )*+% 2//:*3.:441$..25$.?% -:0 -$%:*&#)*8$+A%d37?% 0#$*?% &3:'+% 20%7316 c)1'<%'3&)'2F$+%\a%/)<%-$%01$)0$+%720#
/3.0%1$')4.$+AHH%R*%)%.0:+<%>13/%"$#1)*%3> 03%&3*013'%+2.$).$m%G*$%43..2-2'20<%2.%0#)0 1$')025$'<% '37(+3.$% 41$+*2.3*$% N$A8A?% `I
H`IV% 4$/4#28:.% 4)02$*0.% .$$*% 35$1% `I 20% /)<% 2*&1$).$% 0#$% .<*0#$.2.% 3>% +$./3( /8O?% 3>0$*% 720#% )*% 2//:*3.:441$..25$
<$)1.?%VA`%4$1&$*0%3>%\a%)*+%IA`%4$1&$*0%3> 8'$2*.%31%&#)*8$%0#$21%43.0(01)*.&124023*)' )8$*0AHPV%"#$%+$&2.23*%03%:.$%2//:*3.:4(
\W% 4)02$*0.% +2$+?% /3.0'<% 3>% .$402&$/2); /3+2E&)023*%03%413'3*8%0#$21%#)'>('2>$AHPH 41$..25$% )8$*0.% 2*% <3:*8% 4)02$*0.% /:.0
3*'<%^AP%4$1&$*0%7$1$%2*%&3/4'$0$%1$/2.( R>?% ).% +2.&:..$+% 2*% \)0#34#<.23'38<% 3> 0)6$% 2*03% )&&3:*0% 0#$% 430$*02)'% 2*&1$).$+
.23*%720#3:0%0#$1)4<A^ K&)*0#3'<.2.?% 4$/4#28:.% R8X% +$4'$0$. 2*&2+$*&$% 3>% /)'28*)*&2$.% 0#)0% /28#0% -$
+$./3.3/$.%3>%+$./38'$2*.?%0#$*%41$+( )..3&2)0$+%720#%0#$%:.$%3>%0#$.$%+1:8.?%).
*2.3*$%&3:'+%&3:*0$1)&0%0#2.%$>>$&0A 7$''% ).% 0#$% 12.6.% 3>% 2*>$102'20<% N$.4$&2)''<
4%&+4*&-4 K'0#3:8#%0#$1$%)1$%>$7%&3*013''$+%.0:+( )..3&2)0$+% 720#% &<&'34#3.4#)/2+$O% )*+
K4413)&#%03%0#$1)4<%3>%4$/4#28:.%5)1( 2$.?% /3.0% ):0#31.% >$$'% 0#)0% 2//:*3.:4( 0$1)038$*2&20<A%R*%.3/$%4)02$*0.?%$.4$&2)''<
2$.% 72+$'<?% $5$*% )/3*8% $@4$10.AH`V% R0% 2. 41$..25$% )8$*0.?% .:&#% ).% /<&34#$*3')0$ 0#3.$% 7#3% )1$% $'+$1'<% 720#% '2/20$+% +2.(
8$*$1)''<%)81$$+%0#)0%\a?%$5$*%2>%2*202)''< /3>$02'% NT$''T$40O?% )F)0#23412*$% NR/:1)*O? $).$% 31% 0#3.$% 2*% 7#3/% 8':&3&3102&32+.
'2/20$+%2*%$@0$*0?%.#3:'+%-$%01$)0$+%)0%20. )*+%&<&'34#3.4#)/2+$%NT<03@)*O?%#)5$%) )1$% &3*01)2*+2&)0$+?% 2//:*3.:441$..25$
3*.$0?%-$&):.$%20%72''%:'02/)0$'<%8$*$1)'( .0$132+(.4)12*8%$>>$&0?%+$&1$).$%0#$%2*&2( )8$*0.%)'3*$%/)<%-$%:.$+AHPU%D$&):.$%4)(
2F$%)*+%0#$%4138*3.2.%720#3:0%0#$1)4<%2. +$*&$% 3>% .2+$% $>>$&0.% 3>% 0#$1)4<?% )*+ 02$*0.%/)<%+2$%>13/%&3/4'2&)023*.%3>%0#$1(
5$1<% 4331A% R*% )++2023*?% 20% 2.% 413-)-'< /)< 2*&1$).$% 0#$% *:/-$1.% 3>% 1$/2.( )4<?%20%2.%2/4310)*0%03%/3*2031%)''%4)02$*0.
$).2$1% 03% &3*013'% $)1'<% +2.$).$% 0#)* .23*.AP`?H`I?H``?H`U?HP`% C.:)''<?% /<&34#$*3( &'3.$'<% >31% 430$*02)'% .2+$% $>>$&0.?% .:&#% ).
72+$.41$)+% +2.$).$?% )*+% /310)'20<% /)< ')0$%/3>$02'%31%)F)0#23412*$?%7#2&#%#).%'$.. 2*>$&023*?%+2)-$0$.?% '$:634$*2)?% 0#13/-3(
-$%#28#$1%2>%0#$1)4<%2.%+$')<$+AH`U 430$*02)'% )+5$1.$% $>>$&0.% 0#)*% &<&'34#3.( &<034$*2)?% )*$/2)?% 8).0132*0$.02*)'% :'&$1
D$&):.$%\W%/)<%-$%'3&)'2F$+%>31%/)*< 4#)/2+$?%2.%0#$%2*202)'%2//:*3.:441$..25$ +2.$).$?%-'$$+2*8?%'25$1%)*+%1$*)'%>:*&023*
<$)1.?% )*+% 0#$% 4138*3.2.% 720#3:0% .<.( )8$*0AHPP?HPS%"1$)0/$*0%1$82/$*.%3>0$*%-$( )-*31/)'202$.?% #28#% -'33+% 41$..:1$?% $'$&(
0$/2&% 0#$1)4<% /)<% -$% 833+?% 4)02$*0. 82*% 720#% -30#% )*% 2//:*3.:441$..25$ 013'<0$%+2.0:1-)*&$.?%)*+%3.0$34313.2.A
720#%0#2.%0<4$%3>%4$/4#28:.%+3%*30%*$&( )8$*0%)*+%41$+*2.3*$%2*%/3+$1)0$%03%2*0$1( "#$1$%)1$%)++2023*)'?%2**35)025$%0#$1)(
$..)12'<% 1$=:21$% 01$)0/$*0% 720#% .<.0$/2& /$+2)0$% +3.$.?% +$4$*+2*8% 3*% +2.$).$% )&( 42$.% 0#)0% )1$% :.:)''<% :.$+% 7#$*% /31$
0#$1)4<;%0#$%:.$%3>%0342&)'%8':&3&3102&32+. 02520<?%)'0#3:8#%.3/$%):0#31.%.:88$.0%E1.0 .0)*+)1+% 01$)0/$*0% 2.% *30% $>>$&025$A% W31
/)<% .:>E&$A% b#$*% 0#$% +2.$).$% 2.% )&025$ +$0$1/2*2*8% 2>% 0#$% +2.$).$% 1$.43*+.% 03% ) $@)/4'$?% 0#$% 2*01)5$*3:.?% 4:'.$% )+/2*(
)*+% 72+$.41$)+?% #37$5$1?% 0#$% 0#$1)4< &3:1.$%3>%8':&3&3102&32+.%)'3*$AP`?H`P?H`^%R* 2.01)023*% 3>% /$0#<'41$+*2.3'3*$?% `JI% 03
>31%\W%2.?%2*%8$*$1)'?%.2/2')1%03%0#)0%>31%\aA )*<%&).$?% 2>%0#$1$%)1$% &3*01)2*+2&)023*.%03 HIII% /8% 825$*% 35$1% )4413@2/)0$'<% P
"#$% .<.0$/2&% )+/2*2.01)023*% 3>% 8':&3( 8':&3&3102&32+% :.$?% 2>% 0#$% 8':&3&3102&32+. #3:1.%=`S#%>31%S%03%J%&3*.$&:025$%+)<.?
&3102&32+.?%:.:)''<%41$+*2.3*$?%2.%0#$%/)2*( +3%*30% &3*013'% 0#$% +2.$).$?% 31% 2>% )% +3.)8$ &)*% 1$.:'0% 2*% '3*8(0$1/% 1$/2..23*.% )*+
.0)<% 3>% 0#$1)4<% >31% 4$/4#28:.A% K0% 3*$ '37%$*3:8#%03%/2*2/2F$%0#$%12.6%3>%.0$132+ +$&1$).$% 0#$% 030)'% +3.$% 3>% 8':&3&3102(
02/$?% 412/)12'<% -$>31$% )+B:5)*0% 2//:*3( &3/4'2&)023*.% 2.% *30% $>>$&025$?% 0#$% 4)02$*0 &32+.%*$&$..)1<%03%&3*013'%+2.$).$AHP!%K'(
.:441$..25$% 0#$1)4<% 7).% )5)2')-'$?% 5$1< .#3:'+% 1$&$25$% )+B:5)*0% 0#$1)4<?% :.:)''< 0#3:8#%0#$%4:143.$%3>%0#2.%0#$1)4<%2.%03
#28#%2*202)'%+3.$.%3>%41$+*2.3*$%7$1$%1$&( &3*.2.02*8%3>%2//:*3.:441$..25$%)8$*0.A +$&1$).$% 0#$% 2*&2+$*&$% 3>% &3/4'2&)023*. !G"
3>%'3*8(0$1/%.0$132+%:.$?%20%&)*%1$.:'0%2* &$''.% 0#)0% 41352+$% Y#$'4Z% 2*% .02/:')02*8
V&\'%&(&%&-/&#
)''% 0#$% :.:)'% 8':&3&3102&32+% &3/4'2&)( 0#$%):03)*02-3+<%1$.43*.$A%]20:@2/)-%2.
023*.?% ).% 7$''% ).% &)1+2)&% )11#<0#/2). 825$*% ).% 2*01)5$*3:.% 0#$1)4<% 3*&$% ) 4B7'H;EE':7H7:78<7'EIGD'HA:'9EE'<B9ND7:G'
720#%.:++$*%+$)0#?%)*+%20.%:.$%2.%&3*013( 7$$6%>31%S%7$$6.?%)*+%.:&#%)%&3:1.$%&)* IG'9P9IE9OE7'9D'ZZZC>IK?bC<A?C
5$1.2)'AHP^%W:10#$1/31$?%)%&3*013''$+%012)' -$%1$4$)0$+%2*%)4413@2/)0$'<%V%/3*0#.A
HJA K362%a%$0%)'[%c*5213*/$*0)'%12.6%>)&031.
>3:*+%0#)0%)+B:5)*0%31)'%+$@)/$0#).3*$ R/4135$/$*0%2.%:.:)''<%.$$*%720#2*%H%03 2*% $*+$/2&% 4$/4#28:.% >3'2)&$:.% N>383
4:'.$% 0#$1)4<% 2*% )++2023*% 03% .0)*+)1+ `% /3*0#.% )>0$1% 0#$% &3:1.$% 3>% 0#$1)4<A .$'5)8$/OA O'F,L&.-30'6&+!"-/%'KT!1'4+/#
0#$1)4<% 720#%41$+*2.3'3*$%)*+% )F)0#23( L3.0%4)02$*0.%.#37%)0%'$).0%4)102)'%1$/2.( ([PS?%`IIS
412*$% >31% \a% 2.% *30% -$*$E&2)'AHSI% R0% /)< .23*%)*+%.3/$% .#37% +1)/)02&% &3/4'$0$ `UA D$:0*$1%cd%$0%)'[%K:03)*02-3+2$.%2*%4$/(
-$% 0#)0% .2/4'<% 8252*8% +252+$+% '37$1 1$/2..23*.;% #37$5$1?% .$123:.% 2*>$&023*. 4#28:.%5:'8)12.A%O8P8 !($[V!`?%H^VJ
PJA _0)*'$<%l]?%K/)8)2%L[%\$/4#28:.?%-:''3:.
+3.$.% 3>% 41$+*2.3*$% &3:'+% )&&3/4'2.# )*+% 30#$1% )+5$1.$% $>>$&0.% /)<% -$% .$$*? 2/4$0283?%)*+%.0)4#<'3&3&&)'%.&)'+$+(.62*
0#$% .)/$% 1$.:'0% 720#% >$7$1% .2+$% $>>$&0.A .3/$%3>%7#2&#%/)<%-$%+:$%03%&3*&3/2( .<*+13/$A H'M,0%'O'P&( &""[H!II?%`IIV
R*01)5$*3:.% 4:'.$% 0#$1)4<% 720#% &<&'3( 0)*0%:.$%3>%30#$1%2//:*3.:441$..25$.A SIA _0)*'$<%l]%$0%)'[%K%/3*3&'3*)'%)*02-3+<
4#3.4#)/2+$?% 720#% 31% 720#3:0% 4:'.$ \')./)4#$1$.2.% 2.% .3/$02/$.% :.$+?% 2* 03% 0#$% +$./3.3/)'% 8'<&34130$2*% +$.(
/38'$2*% H% -2*+.% 0#$% .)/$% 43'<4$402+$
0#$1)4<% 720#% 8':&3&3102&32+.?% #).% )'.3 &3/-2*)023*% 720#% &<&'34#3.4#)/2+$% 31 ).%#:/)*%):03)*02-3+2$.%2*%4$/4#28:.
-$$*% 1$4310$+% 03% 1$.:'0% 2*% 1$/2..23*.% 3> )*30#$1% 2//:*3.:441$..25$% )8$*0?% >31 >3'2)&$:.A O'F!!$,/% !&#[H``U?%H^!V
\aAHSH?HS`% "#$% )+5)*0)8$% 3>% 0#2.% 0#$1)4< .$5$1$% 4$/4#28:.?% 31% >31% 4$/4#28:. S`A K/)8)2%L%$0%)'[%K:03)*02-3+2$.%)8)2*.0
35$1%0#)0%3>%+)2'<%&<&'34#3.4#)/2+$%#). 7#2&#% 2.% :*1$.43*.25$% 03% )% &3/-2*)023* )% *35$'% $420#$'2)'% &)+#$12*% 2*% 4$/4#2(
*30%-$$*%&'$)1'<%$.0)-'2.#$+A 3>% 41$+*2.3*$% )*+% 2//:*3.:441$..25$ 8:.%5:'8)12.?%)%+2.$).$%3>%&$''%)+#$.23*A
;&%% #)[!V^?%H^^H
K*30#$1% /$0#3+% 3>% +$&1$).2*8% .$1:/ )8$*0.A% K'0#3:8#% 3*$% &3*013''$+% .0:+< SVA K/)8)2%L%$0%)'[%"#$%&'2*2&)'%4#$*30<4$
):03)*02-3+2$.%2.%0#$%2*01)5$*3:.%:.$%3>% ( >3:*+%20%03%-$%2*$>>$&025$?HJI%30#$1%.0:+2$. 3>%4$/4#28:.%2.%+$E*$+%-<%0#$%)*02(+$.(
8'3-:'2*%2*%#28#%+3.$.A%R0%/)<%-$%:.$>:'%). #)5$% >3:*+% 0#)0% 20% -30#% 1$+:&$.% .$1:/ /38'$2*%):03)*02-3+<%413E'$A%O'8! 8#"(
)+B:5)*0%0#$1)4<%2*%0#3.$%7#3.$%&3*+2023* '$5$'.% 3>% 4$/4#28:.% ):03)*02-3+2$.% )*+ 6&+!"-/% '*[HUI?%H^^^
JPA K/)8)2%L%$0%)'[%C.$>:'*$..%3>%$*F</$(
+3$.% *30% 1$.43*+% 03% /31$% &3*5$*023*)' &3*013'.%+2.$).$%)&02520<AHJH%W31%/)@2/:/ '2*6$+% 2//:*3.31-$*0% )..)<% :.2*8
0#$1)4<AHSP?HSS%R0%2.%0#3:8#0%03%>:*&023*%-< $>>$&025$*$..?% 20% 2.% 413-)-'<% *$&$..)1<% 03 1$&3/-2*)*0% +$./38'$2*.% H% )*+% P% >31
2*&1$).2*8%&)0)-3'2./%3>%0#$%4)02$*0k.%)*02( 4$1>31/% 4')./)4#$1$.2.% 3*% 4)02$*0.% 0)6( .$13+2)8*3.2.%3>%4$/4#28:.A%@+'O'6&+!")
-3+2$.?% 7#2&#% 2*&':+$% 0#$% 4)0#38$*2&% ):( 2*8%2//:*3.:441$..25$%)8$*0.%03%41$5$*0 -/% !'*[PJH?%H^^^
03)*02-3+<AHSJ% R0% .$$/.% 03%-$% $>>$&025$%>31 0#$% )*02-3+<(1$-3:*+% 4#$*3/$*3*% 0#)0 JUA _'0F%l]?%L2&#$'%D[%\13+:&023*%3>%$42+$1(
/)'%)&)*0#3'<.2.%2*%*31/)'%#:/)*%.62*%2*
0#$1)4<% -:0% 2.% $@4$*.25$% )*+% 1$=:21$. &)*%>3''37%0#$%1$/35)'%3>%R8XA% 52013%-<%0#$%R8X%>1)&023*%>13/%4$/4#28:.
/)*<%2*01)5$*3:.% 2*>:.23*.% >31% 1$/2..23* G0#$1% 430$*02)'% 0#$1)42$.%>31% 4$/4#2( .$1:/A O'F,L&.-'6&+!"-/% #)[`JS?%H^UV
)*+% &3*02*:$+% 2*>:.23*.% >31% /)2*0$*)*&$ 8:.?%:.$+%'$..%>1$=:$*0'<%0#)*%0#3.$%0#)0 J^A K*#)'0%Xl%$0%)'[%R*+:&023*%3>%4$/4#28:.
3>%1$/2..23*A%"#$1$%&)*%)'.3%-$%.28*2E&)*0 #)5$%-$$*%+2.&:..$+?%2*&':+$%2//:*3)-( 2*%*$3*)0)'%/2&$%-<% 4)..25$% 01)*.>$1% 3>
R8X% >13/% 4)02$*0.% 720#% 0#$% +2.$).$A% H
.2+$%$>>$&0.%720#%0#2.%0#$1)4<AHSV ')025$% 0#$1)4<% 720#3:0% .0$/% &$''% 1$.&:$; M,0%'O'P&( &*#[HH!^?%H^!`
K*30#$1% 430$*02)''<% 5$1<% $>>$&025$ 0#$%)+/2*2.01)023*%3>%&<&'3.4312*$?%83'+? UHA L)#3*$<%LX%$0%)'[%c@4')*)023*%>31%0#$
0#$1)4<%>31%4$/4#28:.%0#)0%2.%1$>1)&031< )*02/)')12)'.?% 31% +)4.3*$;% )*+% $@01)&31( &'2*2&)'% )*+% /2&13.&342&% '3&)'2F)023*% 3>
03% /31$% .0)*+)1+% 0#$1)4<% 2.% )% /3*3( 431$)'%4#303&#$/30#$1)4<AHHP?HJ`,HJS '$.23*.%2*%4$/4#28:.%>3'2)&$:.%)*+%5:'(
&'3*)'% )*02(TM`I% )*02-3+<% q120:@2/)- K''% 2*% )''?% 0#$1$% #).% -$$*% )% 01$/$*( 8)12.A O';%3,'F,L&.- !*&[SVH?%H^^^
!^A d$10'% L?% c/2*8% ]?% a$'+/)*% T[% "% &$''
N]20:@)*Or?%/3.0'<%:.$+%)*+%)44135$+%>31 +3:.%)+5)*&$%2*%0#$%)1/)/$*0)12:/%3> &3*013'%2*%):032//:*$%-:''3:.%.62*%+2.(
0#$1)4<% 3>% D(&$''% /)'28*)*&2$.AHSU,HS^% R* 0#$1)42$.% >31% 4$/4#28:.% .2*&$% 0#$% 02/$ 31+$1.A O';%3,'F,L&.- !!#[HHJ^?%`IIV
4$/4#28:.%4)02$*0.?%0#2.%/3*3&'3*)'%)*( -$>31$% 0#$% +$5$'34/$*0% 3>% 8':&3&3102( H`^A W2*$% lM[% L)*)8$/$*0% 3>% )&=:21$+% -:'(
02-3+<% 73:'+% )'.3% 41$.:/)-'<% 0)18$0% D &32+.% 7#$*% \a% 7).% )% >)0)'% +2.$).$A '3:.% .62*% +2.$).$.A% H' M,0%' O' P&(
&&&[HSUJ?%H^^J
&$''.?%0#$%41$&:1.31.%3>%)*02-3+<(413+:&( "#)*6.% 03% 0#$.$% )+5)*&$.?% 0#$% Y137% 3> HP`A c*6%Kd?%i*34%l[%L<&34#$*3')0$%/3>$02'
2*8% 4')./)% &$''.A% "#$% D% &$''% )'.3% )&0.% 03 03/-.03*$.Z% .$$*% 2*% 0#$% 4)0#3'38<% 3> 2.%$>>$&025$%2*%0#$%01$)0/$*0%3>%4$/4#28:.
413&$..% ):03)*028$*% )*+% 41$.$*0% 20% 03% " \a%*3%'3*8$1%)'':+$.%03%20.%4138*3.2.A 5:'8)12.A 8+#*'6&+!"-/%'!&"[JS?%H^^!
&4"$,$L\'+-!')+40$L&-&#"#
R*%)'/3.0%)''%&).$.?%0#2.%.<*+13/$%2.%)..3(
&2)0$+%720#%)%'2/20$+%*:/-$1%3>%'</4#3(
413'2>$1)025$% *$34')./.A% "#$% )4413@2(
/)0$% >1$=:$*&<% 3>% .4$&2E&% *$34')./.
#).% -$$*% $.02/)0$+?% -).$+% 3*% HSI% &).$.
3>%\Q\%+2)8*3.$+%)*+%&3*E1/$+%-<%2/(
/:*341$&2420)023*% +$/3*.01)023*%3>% 0#$
&#)1)&0$12.02&%):03)*02-3+<%413E'$?%03%-$
SS%4$1&$*0%Qde?%H^%4$1&$*0%Tee?%HV%4$1( 56789#,:A.; 4;?A:G'9GGA<I9D7>'ZIDB'N9:987ANE9GDI<'N7?NBIK;GC !G>
)*+%0#$.$%.0:+2$.%.#37$+%0#$%$@4)*.23*
3>% .$5$1)'% 2//:*3'382&)''<% )&025$% D(&$''
&'3*$.% 720#2*% 0#$% 0:/31.A% R*% b)'+$*(
.01s/% /)&138'3-:'2*$/2)?% 0#$% ):03)*02(
-3+<%2.%*30%3>%R8L%31282*?%-:0%2.%43'<&'3(
*)'%)*+%R8X?%.#372*8%0#)0%0#$%0:/31%&$''.
+3%*30%413+:&$%0#$%):03)*02-3+<A
K'/3.0%)''%4)02$*0.%#)5$%):03)*02-3+(
2$.% )8)2*.0% +$./38'$2*.?% +$/3*.01)-'$
-<% $*F</$('2*6$+% 2//:*3.31-$*0% ).(
.)<?%)*+%7#$*%0#$%+$./38'$2*%):03)*02(
-3+2$.% >13/% 0#$.$% 4)02$*0.% )1$% 2*B$&0$+
2*03%*$3*)0)'%/2&$?%)&)*0#3'<02&%.62*%'$(
.23*.% )1$% 2*+:&$+AU% d37$5$1?% *3*$% 3>
>$)0:1$.%3>%0#$%+2.$).$%0#)0%.:88$.0%&$''( < =
/$+2)0$+%):032//:*20<%2.%1$&1$)0$+%-<
2//:*38'3-:'2*%2*B$&023*.A%Q3%30#$1%2*(
0$1*)'% 318)*.% )1$% 2*53'5$+?% )*+% 0#$1$% 2.
*3% '</4#3&<0$(/$+2)0$+% &$''% +)/)8$A
"#2.% 2.% )'.3% )*% 2*+2&)023*% 0#)0% #:/31)'
2//:*20<% )'3*$% 1$413+:&$.% >$)0:1$.% 3>
)&)*0#3'<.2.?%-:0%4)..25$%01)*.>$1%3>%):(
032//:*$%&$''.%>13/%0#$.$%4)02$*0.%/)<
-$%*$&$..)1<%03%1$413+:&$%0#$%&3/4'$0$
.4$&01:/%3>%0#$%+2.$).$%2*%)*2/)'.A
/,"-"/+,'("-!"-L#
0IGDA:F 0 /
56789#,:A.? <B'&QD78GIP7'7:AGIA8G'I8PAEPI8K'DB7'P7:?IEEIA8'AH'DB7'EING'I8'9'N9DI78D'N:7G78DI8K'ZIDB'N9:9.
/;D987A;G',7GIA8G 87ANE9GDI<'N7?NBIK;G'98>'98'A<<;ED'EF?NBA?9C'4B7'<B9:9<D7:IGDI<'G7P7:7'GDA?9DIDIGM'9<<A?N98I7>'OF'NAEF.
"#$%/3.0%&3*.0)*0%&'2*2&)'%>$)0:1$%3>%0#$ ?A:NBA;G'<;D987A;G'E7GIA8GM'IG'DB7'?AGD'<A8GIGD78D'H79D;:7'AH'DB7'>IG79G7C'=B')9I8H;E';E<7:9DIA8G'D78>'DA'EA.
+2.$).$% 2.% 0#$% 41$.$*&$% 3>% 2*01)&0)-'$ <9EIJ7' DA' DB7' E9D7:9E' OA:>7:' AH' DB7' DA8K;7C'0B' ,7GIA8G' AH' DB7' D:;8=' H:A?' DB7' G9?7' N9DI78D' NI<D;:7>' I8'<<
.03/)0202.%NW28A%JP(`K?DOA%"#2.%2.%0#$%$)1( &:FDB7?9DA;G'?9<;E7G'98>'N9N;E7G'<A9E7G<7'98>'O7<A?7'7:AGIP7'A8'DB7';NN7:'<B7GD'9G'DB7'<;D987A;G'E7.
'2$.0%41$.$*02*8%.28*?%)*+%)>0$1%01$)0/$*0 GIA8G'7PAEP7C'/B',7GIA8G'H:A?'DB7'HA:79:?'AH'DB7'G9?7'N9DI78DC'4B7G7'E7GIA8G'<EI8I<9EEF':7G7?OE7'7:FDB7?9
20% 2.% 0#$% 3*$% >$)0:1$% 0#)0% 4$1.2.0. ?;EDIHA:?7M'O;D'OIANGF'GBAZG'9'?IQ'AH'I8>IPI>;9E'<7EE'87<:AGIGM'I8D7:H9<7'<B98K7M'98>'9<98DBAEFGIGC
0#13:8#3:0% 0#$% &3:1.$% 3>% 0#$% +2.$).$
)*+% 2.% $@01$/$'<% 1$.2.0)*0% 03% 0#$1)4<A 0#$% $@01$/202$.% 7$1$% .3/$02/$.% =:20$ &#$*32+%$1:4023*%/)<%41$+3/2*)0$%35$1
"#2.%E*+2*8%2.%.3%&3*.2.0$*0%0#)0%0#$%+2( 0$*.$?% 1$.$/-'2*8% 0#3.$% .$$*% 2*% -:''3:. -'2.0$12*8%3*%0#$%&:0)*$3:.%.:1>)&$A%D30#
)8*3.2.%.#3:'+%*30%-$%&3*.2+$1$+%2>%.03( 4$/4#2832+?%31%0#$<%#)+%.:113:*+2*8%$1( -'2.0$1.% )*+% '2&#$*32+% '$.23*.% )>>$&02*8
/)0202.%2.%)-.$*0A <0#$/)?% &'2*2&)''<% 1$.$/-'2*8% $1<0#$/) 0#$%4)'/.%)*+%0#$%.3'$.%).%7$''%).%0#$%4)1(
"#2.% .03/)0202.% &3*.2.0.% 3>% $13.23*. /:'02>31/$% N.$$% W28A% JP(`MOA% G*% 0#$% :4( 3*<)' 02..:$.%)1$%&3//3*%)*+%#$'4%03
)*+% :'&$1)023*.% 0#)0% &)*% )>>$&0% )''% .:1( 4$1% &#$.0% )*+% -)&6?% &3*9:$*0% $13.25$% '$( +2.02*8:2.#% 0#2.% >13/% 4$/4#28:.% 5:'(
>)&$.%3>%0#$%3134#)1<*@A%"#$%'$.23*.%+2>( .23*.%&)*%+$5$'34?%413+:&2*8%)%42&0:1$%1$( 8)12.?%2*%7#2&#%)&1)'%)*+%4)13*<)'%'$(
>$1% >13/% 0#3.$% .$$*% 2*% 4$/4#28:.% 5:'( .$/-'2*8% "cQA% "#$% .2/2')120<% 3>% 0#$ .23*.%)1$%:*&3//3*A
8)12.% 2*% 0#)0% 0#$<% .#37% /31$% *$&13.2. /:&3&:0)*$3:.% >$)0:1$.% 03% $1<0#$/) "#$1$% )1$% )% ./)''% *:/-$1% 3>% 4)02$*0.
)*+%'2&#$*32+%&#)*8$A%"#$<%)'.3%41$>$1( /:'02>31/$%)*+%"cQ%$@4')2*.%7#<%0#2.%2. 7#3%)44$)1%03%#)5$%\Q\%-:0%7#3%+3%*30
$*02)''<%'3&)'2F$%03%0#$%')0$1)'%-31+$1.%3> 0#$% /3.0% &3//3*% +2>>$1$*02)'% +2)8*3.2. #)5$% +$/3*.01)-'$% &21&:')02*8% ):03)*02(
0#$%03*8:$?%)*+%&#)1)&0$12.02&)''<%$@0$*+ >31%\Q\A%d37$5$1?%20%2.%2/4310)*0%03%*30$ -3+2$.A!%"#$.$%4)02$*0.%0$*+%03%#)5$%41$(
3*03% )*+% 2*53'5$% 0#$% 5$1/2'23*% 3>% 0#$ 0#)0% $1<0#$/)% /:'02>31/$% )*+% "cQ% )1$ +3/2*)*0'<% '2&#$*32+% .62*% )*+% /:&3.)'
'24.A% G&&).23*)''<?% 31)'% '$.23*.% )1$% 0#$ .$'>('2/20$+% $5$*0.% 0#)0% $53'5$% )*+% 1$( '$.23*.?% -:0% -$#)5$% 2*% $5$1<% 30#$1% 7)<
3*'<%/)*2>$.0)023*%3>%0#$%+2.$).$A .3'5$%35$1%.$5$1)'%7$$6.?%7#$1$).%\Q\%2. '26$%)*02-3+<(43.2025$%4)02$*0.A%"#$<%#)5$
"#$%&:0)*$3:.%'$.23*.%3>%\Q\%)1$%=:20$ )% 1$'$*0'$..'<% 41381$..25$% +2.$).$% 0#)0 0#$% .)/$% :*+$1'<2*8% *$34')./.?% )*+% >1$(
5)12)-'$?%)*+%+2>>$1$*0%/314#3'382$.%/)< &3*02*:3:.'<%$53'5$.%35$1%/3*0#.A =:$*0'<% +$5$'34% -13*'202.% 3-'20$1)*.A
3&&:1%2*%)*%2*+252+:)'%4)02$*0%)&&31+2*8%03 T:0)*$3:.% '2&#$*32+% $1:4023*.% )1$ D$&):.$%0#$%+$E*2023*%3>%0#$%+2.$).$%1$'2$.
0#$%.0)8$%3>%0#$%+2.$).$%N.$$%W28A%JP(`T?MOA 5$1<%&3//3*?%)*+%0#$<%/)<%-$%0#$%3*'< .3% #$)52'<% 3*% +$/3*.01)023*% 3>% 0#$% .4$(
"#$%2*202)'%4)02$*0.%1$4310$+%720#%0#$%.<*( &:0)*$3:.%.28*.%3>%0#$%+2.$).$%31%/)<%+$( &2E&% ):03)*02-3+<% /)16$1.?% >:10#$1%.0:+<
+13/$% #)+% $42.3+$.% 3>% 7)5$.% 3>% -'2.0$1( 5$'34%2*%'$.23*.%0#)0%#)+%41$523:.'<%-$$* 2.%1$=:21$+%03%6*37%#37%03%&')..2><%0#$.$
2*8% )>>$&02*8% 0#$% :44$1% 01:*6?% #$)+% )*+ -'2.0$1$+A% b#$*% &:0)*$3:.% '2&#$*32+% '$( 4)02$*0.A% W31% *37?% 0#$<% )1$% &)''$+% 0#$% %3)
*$&6?%)*+%413@2/)'%$@01$/202$.A%"#$.$%'$( .23*.%)1$%41$.$*0?%.$5$1$%.03/)0202.%2.%)'.3 #*&,/3('L"+3",-'/S'1"+",&/1%".-3#'1&!1*30$.A
.23*.% &3*.2.0$+% 3>% -'2.0$1.% 0#)0% 1:40:1$+ 2*5)12)-'<%41$.$*0A%R*%0#$%
*2&%>31/%3> "#$% +2.$).$% #).% )'.3% -$$*% 2+$*02E$+
$).2'<?% '$)52*8% $13.23*.A% "#$% -'2.0$1.% 3* 0#$% +2.$).$% )*+% )>0$1% 01$)0/$*0?% 0#2.% '2( 2*%)%#31.$%)*+%073%+38.A%R*%)*2/)'%.4$(
!"@
&2$.?%0#$%+2.$).$%#).%0#$%.)/$%)..3&2)0$+
*$34')./.%)*+%&'2*2&)'%3:0&3/$.A^
0
%7E9D7>'/EI8I<9E'(I8>I8KG
\Q\% 2.% 0#$% 3*'<% >31/% 3>% 4$/4#28:.% 0#)0
#).% 2*53'5$/$*0% 3>% *3*(.01)02E$+% .=:)(
/3:.% $420#$'2:/A% K4413@2/)0$'<% PI% 4$1( <
&$*0%03%SI%4$1&$*0%3>%&).$.%+$5$'34%4:'/3(
*)1<%2*B:1<?%3>0$*%720#%)%>)0)'%3:0&3/$AHI
"#$% $)1'2$.0% .</403/.% )1$% 41381$..25$
+<.4*$)% )..3&2)0$+% 2*202)''<% 720#% )*% )-(
.$*&$% 3>% E*+2*8.% 3*% &#$.0% 1)+2381)4#<A
\:'/3*)1<%>:*&023*.%.0:+2$.%.#37%)21937
3-.01:&023*?%2*53'52*8%')18$%)*+%./)''%)21(
7)<.A% R*9)//)023*% 3>% 0#$% ')18$% )217)<.
$53'5$.% )*+% 2.% $52+$*&$+% -<% $*+3.&342&
-234.<%.#372*8%)&)*0#3'<.2.%3>%-13*)'
1$.421)031<% $420#$'2:/A% \:'/3*)1<% >:*&( =
023*%+$0$1231)0$.%2*%/3.0%&).$.%+$.420$%2/(
/:*3.:441$..25$%0#$1)4<?%)*+%1)+23'382&? 56789#,:A.A !I9K8AGIG'AH'N9:987ANE9GDI<'N7?NBIK;G'X)-)Y'>7N78>G'A8'DB7'>7?A8GD:9DIA8'AH'98DI.
#2.03'382&?%)*+%>:*&023*)'%&#)*8$.%&#)1)&( NE9=I8'98DIOA>I7GC'<B'4BIG'<98'O7'9<<A?NEIGB7>'OF'I8>I:7<D'I??;8Ad;A:7G<78<7'AH'N9DI78D'G7:;?'A8':A.
0$12.02&%3>%-13*'202.%3-'20$1)*.%+$5$'34A >78D';:I89:F'OE9>>7:'>7?A8GD:9DI8K'OI8>I8K'AH'I??;8AKEAO;EI8'L'DA'DB7'<7EE'G;:H9<7'AH'D:98GIDIA89E'7NIDB7.
EI9E'<7EEGC'+'NAGIDIP7':7G;ED'I?NEI7G'DB7'N:7G78<7'AH'98DI.NE9=I8'98DIOA>I7GC'4BIG'D7<B8IW;7M'9EDBA;KB'79GIEF
,+3$%+4$%\'4# N7:HA:?7>M'B9G'DB7'EAZ7GD'G78GIDIPIDF'98>'GN7<IT<IDFC'=B'"??;8AOEADDI8K'9K9I8GD'7NI>7:?9E'<7EE'7QD:9<DG'IG
"#$%6$<%E*+2*8%2.%0#$%.$13'382&%2+$*02E&)( ?;<B'?A:7'G78GIDIP7'98>'GN7<IT<C'4BIG'GBAZG'>7D7<DIA8'AH'78PANE9=I8'X^6_'=>Y'98>kA:'N7:INE9=I8'X6g_'=>Y
023*% 3>% 43'<&'3*)'% R8X% ):03)*02-3+2$. I8'65'N9DI78DG'ZIDB')-)C',987'6]'IG'9'8A:?9E'<A8D:AEM'98>'E987'6b'GBAZG'9'?A8A<EA89E'98DIOA>F'9K9I8GD
)8)2*.0%4')62*%4130$2*.%)*+?%2*%/3.0%&).$.? N7:INE9=I8C'4BIG'D7<B8IW;7';G7G'>789D;:7>'98DIK78'7QD:9<DGM'GA'ID'>A7G'8AD':7EI9OEF'>7D7<D'GA?7'AH'DB7')-)
+$./38'$2*.% H% )*+% PA% "#$% 4')62*.% )1$% ) 98DIK78GM'O;D' 98DIOA>I7G' 9K9I8GD'DB7'?AGD'<B9:9<D7:IGDI<'NE9=I8'98DIK78GM'78PANE9=I8'98>'N7:INE9=I8M' 9:7
813:4% 3>% .$=:$*&$(1$')0$+% 4130$2*.% 0#)0 79GIEF'>7D7<D7>C'0B'"??;8AN:7<INID9DIA8';GI8K':9>IAE9O7E7>M'8A8>789D;:7>'7NI>7:?9E'7QD:9<DG'98>'G7:;?
>31/% 0#$% 2*01)&$'':')1% 4')=:$% 3>% +$./3( H:A?'9'N9DI78D'ZIDB')-)'98>'N7?NBIK;G'P;EK9:IG'X)1YC'"8'DBIG'<9G7M'DB7')-)'N9DI78DmG'G7:;?'I>78DIT7G'9EE'AH
.3/$.% )*+% #$/2+$./3.3/$.?% )*+% /$+2( DB7'NE9=I8'98DIK78GC'&8PANE9=I8'98>'>7G?ANE9=I8'""'?IK:9D7'9G'9'>A;OE7D'9D'^6_'=>C'4BIG'D7<B8IW;7'IG'DB7
)0$%)00)&#/$*0%3>%&<03.6$'$0)'%2*0$1/$+2( ?AGD'G78GIDIP7'98>'GN7<IT<'D7GD'HA:'>7?A8GD:9DIA8'AH'98DI.NE9=I8'98DIOA>I7G'I8')-)M'O;D'B9G'EI?ID7>'9P9IE.
)0$%E')/$*0.%03%01)*./$/-1)*$%)+#$.23* 9OIEIDFC'+EDBA;KB'DBIG'D7<B8IW;7':79>IEF'>7D7<DG'DB7'98DI.NE9=I8'98DIOA>I7GM'>7G?AKE7I8'a'IG'8AD'9EZ9FG'7HT.
/3'$&:'$.% .:&#% ).% 0#$% +$./38'$2*.% N.$$ <I78DEF'I>78DIT7>M'98>'DBIG'IG'O7GD'GBAZ8'OF';GI8K'78JF?7.EI8=7>'I??;8AGA:O78D'9GG9F'X&,"#+YC
T#)4A% JHOA% K:03)*02-3+2$.% )8)2*.0% 0#$.$
4130$2*.%)1$%0#$%/3.0%&#)1)&0$12.02&%.:113(
8)0$%/)16$1.%>31%0#$%+2.$).$A%"#$%4)00$1* 1$.4$&025$'<AHP%L31$%.4$&2E&%)*+%.$*.2025$ >31% 073% 1$).3*.A% W21.0?% -$&):.$% 0#$% '$(
3>% )*028$*.% 1$&38*2F$+% -<% 2*+252+:)'% 4)( 0$.0.% 2*&':+$% 2//:*3-'3002*8% )8)2*.0 .23*.% &)*% -$% &'2*2&)''<% 5$1<% 43'</31(
02$*0.% .#37.% &3*.2+$1)-'$% 5)12)-2'20<?% -:0 $42+$1/)'% &$''% $@01)&0.% 0#)0% &)*% $>>$&( 4#3:.?%0#$1$%2.%.:-.0)*02)'%5)12)-2'20<%2*
0#$% /3.0% &#)1)&0$12.02&% )*+% &3*.2.0$*0'< 025$'<% +$0$&0% )*02-3+2$.% )8)2*.0% $*53( 0#$% #2.03'382&% E*+2*8.AHS% _$&3*+?% E*+(
1$&38*2F$+% 4')62*% )*028$*.% )1$% $*53( 4')62*?%4$124')62*?%+$./34')62*?%)*+%2/( 2*8.% +:$% 03% &$''(/$+2)0$+% &<0303@2&20<
4')62*HH%)*+%4$124')62*H`%N`HI%)*+%H^I%6+? /:*341$&2420)023*?% :.2*8% 1)+23')-$'$+ )1$%>1$=:$*0'<%3-.$15$+A
1$.4$&025$'<; W28A%JP(POA%"#$%*$@0%/3.0%>1$( 6$1)02*3&<0$%$@01)&0.?%7#2&#%&)*%+$0$&0%)*( D$&):.$%3>%0#$%.$5$1$%/:&3.202.?%/)*<
=:$*0'<% +$0$&0$+% )1$% )*02-3+2$.% )8)2*.0 02-3+2$.%)8)2*.0%)*<%3>%0#$%4')62*%4130$2*.A -234.2$.%3>%31)'%'$.23*.%<2$'+%*3*(.4$&2E&
+$./34')62*% R% )*+% +$./34')62*% RR% N`JI "#$%\Q\%):03)*02-3+<%413E'$%2.%/31$ &#)*8$.%3>%2*9)//)023*%)*+%:'&$1)023*A
)*+%`HI%6+?%1$.4$&025$'<OA%e$..%&3//3*'<? &3/4'$@% 0#)*% 0#)0% 3-.$15$+% 2*% 4$/4#2( R>%3*$%&)*%-234.<%4$12'$.23*)'%$420#$'2:/?
4)02$*0.%1$&38*2F$%-:''3:.%4$/4#2832+%K8 8:.%5:'8)12.%31%>3'2)&$:.?%7#$1$%0#$1$%)1$ )% '2&#$*32+% /:&3.202.% 720#% 5)12)-'$% +$(
H% N`PI% 6+O?% 4'$&02*?% )*+% 4')638'3-2*A% "#$ ):03)*02-3+2$.% 413+:&$+% 3*'<% )8)2*.0 81$$.% 3>% 2*+252+:)'% &$''% *$&13.2.% )*+% .:(
2+$*020<%)*+%>1$=:$*&<%3>%)*%)*028$*%-)*+ 0#$%+$./38'$2*.A%"#$%#:/31)'%2//:*20< 41)-).2')1%)&)*0#3'<.2.%&)*%-$%3-.$15$+A
)0% HUI% 6+% )1$% *30% 7$''% +$E*$+A% \Q\% 4)( 2*% \Q\% /)<% 1$41$.$*0% )*% $@)/4'$% 3> b#$*% $5)':)02*8% -234.2$.% >13/% .62*
02$*0.%/)<%)'.3%#)5$%&'2*2&)'%)*+%.$13'382& $42034$% .41$)+2*8% 2*% 7#2&#% 4)02$*0.% +$( '$.23*.?%3*$%/:.0%1$&38*2F$%0#)0%'$.23*.
$52+$*&$% 3>% 30#$1% ):032//:*$% 4#$*3/( 5$'34%):03)*02-3+2$.%)8)2*.0%.01:&0:1)''< 720#%+2>>$1$*0%&'2*2&)'%/314#3'382$.%<2$'+
$*)% .:&#% ).% /<).0#$*2)% 81)52.% )*+% ):( 1$')0$+% 4')62*% 4130$2*.% )*+% .01:&0:1)''< +2>>$12*8%#2.03'382&%E*+2*8.A%R*%*3*2*9)/(
032//:*$%&<034$*2).%N.$$%W28A%JP(POA :*1$')0$+% 01)*./$/-1)*$% &$''% .:1>)&$ /)031<% &:0)*$3:.% -'2.0$1.?% .:41)-).2')1
"3% .&1$$*% >31% \Q\% ):03)*02-3+2$.?% 3*$ 4130$2*.%N0#$%+$./38'$2*.O%0#)0%)1$%4#<.( )&)*0#3'<.2.%2.%$@4$&0$+%03%-$%/31$%413/(
&)*%0$.0%>31%R8X%):03)*02-3+2$.%-<%2*+21$&0 2&)''<%'2*6$+%03%0#$%4')62*%4130$2*.%2*%0#$ 2*$*0%0#)*%0#$% 2*0$1>)&$g'2&#$*32+% &#)*8$
2//:*39:31$.&$*&$%1$)&025$%720#%13+$*0 +$./3.3/$%)*+%#$/2+$./3.3/$A NW28A% JP(SKOA% b#$*% $1<0#$/)03:.% /)&(
:12*)1<%-')++$1%$420#$'2:/A%K%43.2025$%1$( :'$.% )*+% 4)4:'$.% )1$% .)/4'$+?% 2*0$1>)&$
.:'0%2/4'2$.%0#$%41$.$*&$%3>%4')62*%):03)*( )*+%'2&#$*32+%+$1/)0202.%2.%41$+3/2*)*0
0IGDAN9DBAEAKF
02-3+2$.;% #37$5$1?% 0#$% .$*.202520<% )*+ N.$$ W28A%JP(SD?TOA%e$.23*.%720#%)%/2@$+
.4$&2E&20<% 3>% 0#2.% .$13'382&% 0$.0% )1$% 3*'< "#$%#2.034)0#3'38<%3>%\Q\%2.%+2.02*&025$ &'2*2&)'% 4)00$1*% )'.3% .#37% /2@$+% #2.03(
)4413@2/)0$'<%UJ%4$1&$*0%)*+%!P%4$1&$*0? >13/% 4$/4#28:.% 5:'8)12.% )*+% >3'2)&$:. '382&%>$)0:1$.%3>%&3*&3/20)*0%.:41)-).2(
!";
)-+3/2*)'% '</4#3/)?% 2*01)0#31)&2&% 31
1$0134$1203*$)'%T).0'$/)*%0:/31.?%31%1$0(
134$1203*$)'% .)1&3/).A% "#$% /3.0% $>>$&(
025$% )*+% $>E&2$*0% /$0#3+% >31% .&1$$*2*8
>31%0#$.$%0:/31.%2.%$20#$1%&3/4:0$1()2+$+
03/381)4#<%31%/)8*$02&%1$.3*)*&$%2/)8(
2*8%3>%0#$%-3+<%>13/%0#$%*$&6%03%0#$%-).$
3>%0#$%-')++$1A%G0#$1%.0:+2$.?%.:&#%).%$*(
+3.&34<?%)1$%*30%1$=:21$+A
< =
!"+L-$#"#'+-!'
!"((&%&-4"+,'!"+L-$#"#
"#$% +2)8*3.2.% &)*% -$.0% -$% /)+$% 2>% 0#$
)'83120#/% .#37*% 2*% W28A% JP(J% 2.% >3'(
'37$+A% "#$% &'2*2&)'% +2>>$1$*02)'% +2)8*3(
.2.%2.%.://)12F$+%2*%D3@%JP(HA
0 / )%$L-$#"#'+-!'
/,"-"/+,'/$2%#&
56789#,:A.! <B' 0IGDAN9DBAEAKF' AH' 9' OEIGD7:I8K' <;D987A;G' E7GIA8' I8' N9:987ANE9GDI<' N7?NBIK;GC' 4BIG
R0% 2.% *30% 6*37*% 7#<% \Q\% 2.% .3% 1$>1)&(
>7?A8GD:9D7G'DB7'<B9:9<D7:IGDI<'N:7G78<7'AH'P9<;AE9:'I8D7:H9<7'<B98K7'98>'G;N:9O9GIE9:'9<98DBAEFGIGC'p07. 031<%03%0#$% 0<4$% 3>% 2//:*3.:441$..25$
?9DAQFEI8' 98>' 7AGI8' X0q&YM' ^__!Cr =B' *9<;E9:' 98>' N9N;E9:' E7GIA8G' ?9F' GBAZ' R;GD' P9<;AE9:' I8D7:H9<7 01$)0/$*0.% 0#)0% )1$% :.:)''<% $>>$&025$% 2*
<B98K7C' X0q&M' 6__!CY 0B' ,I<B78AI>' E7GIA8G' >7?A8GD:9D7' EI<B78AI>' I8TED:9D7G' A8' BIGDAEAKI<' 7Q9?I89DIA8C 4$/4#28:.% 5:'8)12.% )*+% 30#$1% ):032/(
X0q&M'`_!CY'4B7'N:7G78<7'AH'DB7G7'P9:I7>'BIGDAEAKI<'T8>I8KG'B7EN'>IHH7:78DI9D7'N9:987ANE9GDI<'N7?NBIK;G /:*$%+2.$).$.A
H:A?'N7?NBIK;G'P;EK9:IGC'/B'!I:7<D'I??;8Ad;A:7G<78<7'<98'O7'87K9DIP7'I8'9'GIK8IT<98D'8;?O7:'AH'<9G7GM R*% 0#3.$% 4)02$*0.% 7#3% +3% .:&&:/-?
O;D'ZB78'NAGIDIP7M'DB7'?AGD'<B9:9<D7:IGDI<'<B98K7G'9:7'DBAG7'AH'>7NAGIDIA8'AH'I??;8AKEAO;EI8'L'98>'<A?. +$)0#% #).% -$$*% )0012-:0$+% 2*% 2*+252+:)'
NE7?78D'<A?NA878DG'A8'OADB'DB7'G;:H9<7'AH'O9GIE9:'98>'G;N:9O9GIE9:'=7:9DI8A<FD7G'98>'9EA8K'DB7'7NI>7:?9E &).$.% 03% /:'024'$% >)&031.?% 2*&':+2*8% .$4(
O9G7?78D'?7?O:987'JA87C'X"??;8Ad;A:7G<78<7'ZIDB'd;A:7G<7I89D7>'98DI.I??;8AKEAO;EI8'LM'^__!CY .2.?%8).0132*0$.02*)'%-'$$+2*8?%Y/:'02318)*
>)2':1$?Z% )*+% 1$.421)031<% >)2':1$A% \)02$*0.
')1% )&)*0#3'<.2.% )*+% 2*0$1>)&$g'2&#$*32+ N.$$% T#)4A% J`O;% #$*&$% 0#$% :*2=:$% #2.03( 720#% ):032//:*$% +2.$).$% )..3&2)0$+
+$1/)0202.A 4)0#3'382&%>$)0:1$.?%)*+?%41$.:/)-'<?%0#$ 720#%D(&$''%*$34')./.%)1$%6*37*%03%#)5$
"#$1$% 2.% )'.3% 3-.$15$+% 5)12)-2'20<% 3> :*2=:$%&'2*2&)'%>$)0:1$.%).%7$''A%"#$%41$.( )%#28#%>1$=:$*&<%3>%):032//:*$%&<034$(
0#$% 2*0$1>)&$% )*+% '2&#$*32+% +$1/)0202.A $*&$% 3>% "(&$''% /$+2)0$+% $420#$'2)'% &<03( *2).?% )*+% .3/$% >)0)'% $42.3+$.% 3>% .$4.2.
"#$% .4$&01:/% 3>% &#)*8$.% &)*% 2*&':+$[ 03@2&20<% #).%-$$*% 1$&$*0'<% +$/3*.01)0$+ )1$% .:.4$&0% 03% #)5$% 3&&:11$+% -$&):.$% 3>
NHO%2*+252+:)'%6$1)02*3&<0$%*$&13.2.%720# 2*%#2.03'382&%.0:+2$.AHJ .:++$*% )*+% :*$@4')2*$+% *$:0134$*2)?
'</4#3&<02&%2*E'01)023*%2*03%0#$%$42+$1( 43..2-'<%+:$%03%0#2.%/$&#)*2./A%]$.421)(
/2.?% 1$/2*2.&$*0% 3>% 0#)0% .$$*% 2*% $1<( "??;8AN9DBAEAKF 031<%>)2':1$%2.%)%&3//3*%0$1/2*)'%$5$*0A
0#$/)% /:'02>31/$% 31% 81)>0(5$1.:.(#3.0 "#$%+$5$'34/$*0%3>%.#310*$..%3>%-1$)0#
+2.$).$;% N`O% 5)&:3')1% 2*0$1>)&$% &#)*8$ \)02$*0.% .#3:'+% #)5$% $52+$*&$% 3>% R8X 720#% 3-.01:&025$% +2.$).$% 41381$..2*8% 03
720#%.4)1.$%'</4#3&<02&%2*E'01)0$%3>%0#$ ):03)*02-3+2$.%-3:*+%03%0#$%&$''%.:1>)&$ -13*'202.% 3-'20$1)*.% 2.% )% 0$1/2*)'
-).2')1% $420#$'2:/?% 1$.$/-'2*8% &:0)*$( 3>% )>>$&0$+% $420#$'2:/% -<% +21$&0% 2//:( 4)0#7)<% 2*% /3.0% &).$.A% D$&):.$% 0#$.$
3:.% ':4:.% $1<0#$/)03.:.% 31% +$1/)03( *39:31$.&$*&$A% d37$5$1?% >)'.$% *$8)( 4)02$*0.% #)5$% ):03)*02-3+2$.% 0#)0% 1$)&0
/<3.202.;%)*+%NPO%)%0#2&6%'2&#$*32+%-)*+ 025$.% )1$% /31$% &3//3*% 2*% \Q\% 0#)*% 2* 720#% +$./34')62*.?% )*+% -$&):.$% +$.(
)'3*8% 0#$% +$1/)'($42+$1/)'% B:*&023* 4$/4#28:.% 5:'8)12.% )*+% 1$4$)0$+% -234( /34')62*.%)1$%41$.$*0%2*%1$.421)031<%$42(
.2/2')1%03%0#)0%.$$*%2*%'2&#$*%4')*:.A%K'( .2$.% /)<% -$% *$&$..)1<% 03% +$/3*.01)0$ 0#$'2:/?% 1$.421)031<% >)2':1$% /)<% -$% +:$
0#3:8#% /3.0% 3>% 0#$% .4$&2/$*.% .#37% ) 0#2.%E*+2*8A%R*%)%/2*3120<%3>%&).$.?%3*$ 03% ):03)*02-3+<(/$+2)0$+% 2*B:1<% 03
&3/4'$@% 35$1')4% 3>% #2.03'382&% 4)00$1*.? /28#0% )'.3% .$$% )% &3/-2*)023*% 3>% -30# -13*)'% $420#$'2:/?% 720#% 4':882*8% 3>
0#$1$%2.%)%1$')025$'<%833+%&311$')023*%-$( &$''% .:1>)&$% )*+% -).$/$*0% /$/-1)*$ 0$1/2*)'%-13*'$.?%1$.:'02*8%2*%)21937
07$$*%0#$%&'2*2&)'%)*+%0#$%41$+3/2*)*0 F3*$%+$43.2023*%3>%R8X%)*+%&3/4'$/$*0 3-.01:&023*%)*+%5$*02')023*g4$1>:.23*%)-(
#2.03'382&%4)00$1*A &3/43*$*0.?% -:0% 0#$% )-.$*&$% 3>% 0#2. *31/)'202$.A% K++2023*)''<?% +21$&0% +)/)8$
"#$% #2.034)0#3'382&% 5)12)-2'20<% 3>% 0#2. &3/-2*$+% &$''% .:1>)&$g-).$/$*0% /$/( 03%)'5$3')1%$420#$'2:/%&3:'+%&):.$%)%+2>(
+2.$).$%/)<%-$%1$')0$+%03%0#$%>)&0%0#)0%20 -1)*$%F3*$%.0)2*2*8%+3$.%*30%*$8)0$%0#$ >:.23*%-)112$1%)*+%.:-.$=:$*0%2*01)&0)-'$
2.% )% 41$.:/$+% )*020:/31% 2//:*$% 1$( +2)8*3.2.%N.$$%W28A%JP(SMOA #<43@2)A%G*$%):034.<%.0:+<%.#37$+%)*
.43*.$A%R>%0#2.%.4$&:')023*%2.%&311$&0?%3*$ )-.$*&$%3>%):03)*02-3+2$.%)*+%)%/)16$+
73:'+% $@4$&0% 03% 3-.$15$% )% &3/-2*)023* 2*E'01)023*%3>%-13*'$.%720#%&<0303@2&
#N7<I9E'47GDG
3>% -30#% #:/31)'% )*+% &$''(/$+2)0$+% 2/( "% &$''.% 2*% )% 4)02$*0% 7#3% +2$+% >13/% \Q\
/:*20<%0#)0%2.%)-$11)*0'<%+21$&0$+%)8)2*.0 K4413@2/)0$'<%3*$(0#21+%3>%4)02$*0.%#)5$ )*+% -13*'202.% 3-'20$1)*.A% "#2.% .#37.
*31/)'%$420#$'2:/A%R*%.:&#%)%.$002*8?%3*$ )*%3&&:'0%/)'28*)*&<%)0%0#$%02/$%0#$<%+$( 0#)0% 0#$1$% /)<% -$% .2/2')1% &3/4'$@% #:(
73:'+%$@4$&0%03%.$$%&#)*8$.%3>%0#$%.310 5$'34%\Q\A%Q$34')./.%0#)0%73:'+%*30%-$ /31)'%)*+%&$''(/$+2)0$+%):032//:*$%2*(
+$.&12-$+%2*%0#$%41$523:.%4)1)81)4#A%"#2. +$0$&0$+% -<% 13:02*$% &3/4'$0$% -'33+ B:1<%03%0#$%':*8?%.2/2')1%03%7#)0%2.%.$$*%2*
+$81$$%3>%&$''(/$+2)0$+%2//:*20<%2.%*30 &3:*0?% .$1:/% &#$/2.012$.?% )*+% 4#<.2&)' 0#$%.62*A%"#$%4:'/3*)1<%2*B:1<%+3$.%*30
.$$*%2*%4$/4#28:.%5:'8)12.%31%>3'2)&$3:. $@)/2*)023*% )1$% /3.0% '26$'<% 03% -$% 2*01)( 1$.43*+% 7$''% 03% /$+2&)'% 01$)0/$*0?% )*+
!"?
<W3'-T ,#"4$*(#(.-71'&5-5
!+%-%U"+ !"#$%&'
'V"+J"T%1- ()*+")#)#( ,#%%&(-.-/#)0-'#"'.$-12*(#(3
H('3'-T
)*$4&-."$5.6-2+#'#*$.*%.'#/(
89#$ :'#()-2(.;.-2*(#*$(.*%)-$.2-(-+<'#$4.-2=)0-+".
'-(#*$( +&')#%*2+-.*2.)*7#1.-/#5-2+"'.$-12*'=(#(3.'#10-$*#5
:#*/(= >1"$)0*'=)#13.'#10-$*#5.*2
%*2.0#()*'*4= 6"1&*'"2.#$)-2%"1-.10"$4-
D"W1("T1(X
'V"+J"T%1-
,#2-1) ?++&$*4'*<&'#$.@."$5.AB.*$.1-''.(&2%"1-(."$5."'*$4
#++&$*%'&*2-(1-$1- )0-.<"(-+-$).+-+<2"$-.C%"'(-.$-4")#6-(.1*++*$D
A-''.(&2%"1-.<#$5#$4.*$.+*$9-=.-(*/0"4&(."$5
?$5#2-1)
+&2#$-.<'"55-2.-/#)0-'#&+
#++&$*%'&*2-(1-$1-
C$-4")#6-.2-(&')E/*((#<'=.'#10-$*#5.6"2#"$)D
?++&$*10-+#1"' >$)#<*5#-(."4"#$().5-(+*4'-#$.F.;.B3
)-()#$4 5-(+*/'"9#$(.F.;.G3.-$6*/'"9#$.;./-2#/'"9#$
?+"4#$4.*%.10-()3."<5*+-$3.;./-'6#(
C+*().1*++*$.)&+*2(E$*$JK*549#$.'=+/0*+"3.
H*.9$*I$.)&+*2
102*$#1.'=+/0*1=)#1.'-&9-+#"3.A"()'-+"$
M$'U%"+ 5#(-"(-3.2-)2*/-2#)*$-"'.("21*+"3.*2.)0=+*+"D
T'3T%-I
!2-J-7#()#$4
!2*1--5.)*.)2-")+-$)
$-*/'"(+
A"()'-+"$.)&+*23 L71#(-.1*+/'-)-'=.#%./*((#<'-3.%*''*I-5.<=
)0=+*+"3.*2.("21*+" #++&$*(&//2-((#6-.)0-2"/=.%*2.&/.)*.G.=-"2(
N2'("$X
H*$JK*549#$ M.N-5&1#$4.)&+*2.<&25-$.5*-(.$*).()*/
'=+/0*+"."$5. ..."&)*#++&$-.5#(-"(-O
102*$#1.'=+/0*1=)#1. M.?++&$*(&//2-((#6-.)0-2"/=.I#)0./2-5$#(*$-3
'-&9-+#" ...2#)&7#+"<3.*2.*)0-2."4-$)(
M.K#40.+*2)"'#)=.2")-E<-().)2-")+-$).2-4#+-$.
...()#''.&$1'-"2
56789#,:A.: +NN:A9<B'DA'9'N9DI78D'ZIDB'N9:987ANE9GDI<'N7?NBIK;GC
0#$% +$5$'34/$*0% 3>% .#310*$..% 3>% -1$)0# 41381$..$.% 2*+$4$*+$*0'<A% K*% $@)/4'$ /)1137% 01)*.4')*0)023*?% )*+% 0#$1$>31$
)*+% #<43@2)% 2*% )% 4)02$*0% 720#% 0#2.% .<*( 3>% 0#$% +2.&3**$&0% -$07$$*% 0:/31% -:1( 1$&$25$+% #2.% 37*% /$/31<% "% &$''.?% 31
+13/$%2.%)*%3/2*3:.%4138*3.02&%.28*A +$*% )*+% ):032//:*20<% 2.% >3:*+% 2*% 0#$ 43..2-'<% 2*+252+:)'% /)'28*)*0% '</(
R*%4)02$*0.%720#%/)'28*)*0%*$34')./. &).$% 1$4310$+% -<% W:''$103*% $0% )'A?HV% 2* 4#32+% &$''.% 0#)0%7$1$%*30%+$0$&0)-'$% -<
0#$1$%2.%*3%+$E*20$%&311$')023*%-$07$$* 7#2&#%\Q\%3&&:11$+%)>0$1%.:&&$..>:'%):( 13:02*$%):034.<%/$0#3+.A
0:/31%-:1+$*%)*+%0#$%)&02520<%3>%0#$%):( 03'383:.% -3*$% /)1137% 01)*.4')*0)023*
032//:*$% .<*+13/$A% "1$)0/$*0% 3>% 0#$ >31% QdeA% "#2.% 4)02$*0% 7).% >1$$% 3>% +$(
4%&+4*&-4 ND3@%JP(`O
412/)1<%/)'28*)*&<%+3$.%*30%)>>$&0%0#$ 0$&0)-'$%0:/31%-:1+$*%)0%0#$%02/$%3>%#2.
)&02520<% 3>% 0#$% ):032//:*$% +2.$).$A% R0 +$)0#?% -:0% +2$+% >13/% 4:'/3*)1<% 2*B:1< R*+252+:)'.% 720#% -$*28*% 31% $*&)4.:')0$+
.$$/.%0#)0%3*&$%0#$%413&$..%2.%2*202)0$+ .$&3*+)1<%03%\Q\A%R0% 2.%*30)-'$%0#)0%0#$ 0:/31.% .:&#% ).% T).0'$/)*% 0:/31.% 31
-<% 0#$% /)'28*)*&<?% 0#$% ):032//:*20< 4)02$*0% :*+$17$*0% ):03'383:.% -3*$ 0#</3/)% .#3:'+% #)5$% 0#$/% .:182&)''<
!"A
#*+&'-)( =1Y,:A.?
!-@@"*".,-&'(!-&+.%#-#(%@( )*"&,$".,#(@%*(5&*&."%D'&#,-?(5"$DO-+>#
5&*&."%D'&#,-?(5"$DO-+>#
/987 8M8<D,/CM# CNL#9,/CM6E7
$:9E'E7GIA8G
(I:GD'EI87 ):7>8IGA87 _C5l6C_'?Kk=K *7DBFEN:7>8IGAEA87M'6___'?K'
n')7?NBIK;G'P;EK9:IG
"1'>9IEF'!'a'>9FG
n'#D7P78G.@AB8GA8'GF8>:A?7
%ID;QI?9O ab5'?Kk?^'"1'Z77=EF'!'`'Z= 6___'?K'"1'Z77=EF'!'^'Z=
n'*;<A;G'?7?O:987'N7?NBIKAI>
!9<EIJ;?9O ^'?Kk=K'"1'Z77=EF'!'`'Z=M'DB78'
n'$:9E'EI<B78'NE98;G 7P7:F'ADB7:'Z77='I8>7T8ID7EF
n'/B7?ADB7:9NF.I8>;<7>'GDA?9DIDIG #7<A8> /F<EAGNA:I87 5'?Kk=K'>9IEF
n'*9RA:'9NBDBA;G'GDA?9DIDIG EI87 /F<EANBAGNB9?I>7 ^C5'?Kk=K'>9IEF
/;D987A;G'E7GIA8G *F<ANB78AE9D7 65__'?K')$'OI>
n'&:FDB7?9'?;EDIHA:?7k#D7P78G.@AB8GA8' ?AH7DIE
GF8>:A?7kDAQI<'7NI>7:?9E'87<:AEFGIG 0IKB.>AG7'"1' ^'Kk=K'"1M':7N79D'W'al`'Z=
n')7?NBIK;G'P;EK9:IG I??;8AKEAO;EI8
n'!:;K'7:;NDIA8 )E9G?9NB7:7GIG &P7:F'ADB7:'>9F'HA:'GIQ'DAD9E'
n',I<B78'NE98;G D:79D?78DG
n'#;O.7NI>7:?9E'OEIGD7:I8K'>IGA:>7:G
2*%2*+252+:)'%&).$.?%-:0%*3*$%#).%4135$* )44$)1.%/31$%'26$'<%0#)0%0#$%*$34')./%20(
$@&2.$+A% R>% 0#$% $*021$% '$.23*% 2.% 1$/35$+? 03% -$% 4)102&:')1'<% $>>$&025$A% L$0#3+. .$'>%01288$1.%0#$%):032//:*20<A
0#$% +2.$).$% 8$*$1)''<% 2/4135$.% .:-.0)*( 0#)0% #)5$% -$$*% 012$+% )*+% 0#)0% #)5$% >1$(
02)''<% 31% 83$.% 2*03% &3/4'$0$% 1$/2..23*A =:$*0'<%-$$*%:*.:&&$..>:'%2*&':+$%2//:(
"#$% 1$/2..23*% 3>% 0#$% ):032//:*$% +2.( *3.:441$..23*% 720#% &<&'34#3.4#)/2+$? V&\'%&(&%&-/&#
$).$%/)<%0)6$%H%03%`%<$)1.%)>0$1%.:18$1<? /<&34#$*3')0$% /3>$02'% 31% )F)0#23( 4B7'H;EE':7H7:78<7'EIGD'HA:'9EE'<B9ND7:G'
.3%&3*02*:$+%2//:*3.:441$..23*%+:12*8 412*$?% 83'+?% +)4.3*$?% 4')./)4#$1$.2.?
0#2.% 4$123+% 2.% 1$=:21$+A% "#$% :.:)'% 01$)0( )*+% 4#3034#$1$.2.A% K% ./)''% *:/-$1% 3>
IG'9P9IE9OE7'9D'ZZZC>IK?bC<A?C
/$*0% 2*53'5$.% &3/-2*$+% :.$% 3>% 41$+*2( 4)02$*0.% #)5$% .#37*% )% 833+% 1$.43*.$ HA K*#)'0%Xl%$0%)'[%\)1)*$34').02&%4$/4#2(
.3*$% )*+% 120:@2/)-AHU% R*% 4$+2)012&% &).$. 03% &3/-2*)023*% 01$)0/$*0% +21$&0$+% )0 8:.[% K*% ):032//:*$% /:&3&:0)*$3:.
+2.$).$% )..3&2)0$+% 720#% *$34').2)A% H
720#% 1$.421)031<% +2.$).$?% 0#$% 4$1.2.0$*0 -30#% #:/31)'% )*+% &$''(/$+2)0$+% ):( M,0%'O'P&( &$&[HU`^?%H^^I
):032//:*20<% 2//$+2)0$'<% 43.0.:18$1< 032//:*20<A% "#$.$% 4)02$*0.% 1$&$25$+ PA \3.*$1%lDA%R//:*3'38<%3>%4)1)*$34').(
&)*%&):.$%3*832*8%4:'/3*)1<%2*B:1<?%)*+ 31)'% 41$+*2.3*$?% 120:@2/)-?% )*+% +)&'2( 02&%.<*+13/$.[%G5$152$7A%8,,'H'Y'8#"(
':*8% 01)*.4')*0)023*% /28#0% -$% 1$=:21$+ F:/)-?% )% /3*3&'3*)'% )*02-3+<% )8)2*.0 K#3 ((%[HU!?%`IIP
>31%'3*8(0$1/%.:1525)'AH! SA Q3:.)12% dT% $0% )'[% c'$5)0$+% '$5$'.% 3>
TM% `J?% 0#$% #28#% )>E*20<% Re(`% 1$&$4031A
2*0$1'$:62*(V%2*%4)1)*$34').02&%4$/4#2(
R*% 4)02$*0.% 720#% /)'28*)*0% *$3( "#2.% )44$)1.% 03% -$% )% '$..% 03@2&% 7)<% 3> 8:.A O'F,L&.-'6&+!"-/% !!$[P^V?%H^^^
4')./.?%0#$1$%2.%*3%&3*.$*.:.%1$8)1+2*8 +37*1$8:')02*8 -30#% #:/31)'% )*+% &$''( !A T://2*.%Me?%$0%)'A%e2&#$*32+%4)1)*$3(
)% 0#$1)4$:02&% 1$82/$*% 0#)0% 2.% &3*.2.( /$+2)0$+% ):032//:*20<?% 720#% 413/2.( 4').02&% 4$/4#28:.% 2*% 0#$% )-.$*&$% 3>
0$*0'<% $>>$&025$A% K'0#3:8#% 0#$1$% )1$% ) 2*8%$)1'<%1$.:'0.A +$0$&0)-'$%)*02-3+2$.A%O 8!'8#"('6&+!")
-/% "#[HJP?%`IIU
&3:4'$% 3>% 2*+252+:)'% 1$4310.% 3>% '3*8( HIA Q3:.)12%dT%$0%)'[%"#$%/$&#)*2./%3>%1$.(
0$1/%.:152531.?%)'/3.0%)''%4)02$*0.%720# 421)031<% >)2':1$% 2*% 4)1)*$34').02&% 4$/(
Qde% 31% Tee% .:&&:/-% 2*% )% 4$123+% 3>% H )%&1&-4"$- 4#28:.A H'M,0%'O'P&( &'*[HSIV?%H^^^
/3*0#% 03% `% <$)1.% )>0$1% +2)8*3.2.A% G1)' "#$1$%2.%*3%6*37*%2*0$15$*023*%0#)0%/)< HHA i2/%_T%$0%)'[%&MQK%&'3*2*8%3>%0#$%`HI(
&3102&3.0$132+.% 2*% )% +3.$% 3>% IAJ% 03% HAI 6M)% 4)1)*$34').02&% 4$/4#28:.% )*028$*
41$5$*0%0#$%+$5$'34/$*0%3>%\Q\%2*%)%4)(
1$5$)'.%0#)0%$*534')62*%2.%)%&3/43*$*0
/8g68% 413+:&$% 4)102)'% 2/4135$/$*0? 02$*0% 720#% )% 6*37*% '</4#32+% /)'28( 3>%0#$%)*028$*%&3/4'$@A%O'F,L&.-'6&+!"-/%
-:0% *30% &3/4'$0$% 1$.3':023*% 3>% '$.23*.A *)*&<A%K'0#3:8#%0#$1$%#)5$%-$$*%2*+252+( !*([PVJ?%H^^U
K'0#3:8#% &:0)*$3:.% '$.23*.% 1$.43*+ :)'% &).$% 1$4310.% 3>% \Q\% 4$1#)4.% -$2*8 HUA D311)+312% e% $0% )'[% K*02(TM`I% /3*3(
/31$% =:2&6'<% 03% 0#$1)4<?% 0#$% .03/)0202. 01288$1$+%-<%&$10)2*%+1:8.?%1)+2)023*%0#$1( &'3*)'% )*02-3+<% N120:@2/)-O% >31% 1$>1)&(
031<% $13.25$% .03/)0202.% .$&3*+)1<% 03
2.%8$*$1)''<%=:20$%1$>1)&031<%03%)*<%>31/ )4<?%31%&<0362*$%)+/2*2.01)023*?%20%2.%.02'' TM`INtO% >3''2&:')1% '</4#3/)()..3&2(
3>% 0#$1)4<A% R*% )++2023*% 03% &3102&3.0$1( *30% &'$)1% 0#)0% )*<% 3>% 0#$.$% 01$)0/$*0. )0$+% 4)1)*$34').02&% 4$/4#28:.A% 8+#*
32+.?%/)*<%30#$1%)8$*0.%#)5$%-$$*%012$+ 01288$1$+%0#$%):032//:*$%+2.$).$?%)*+%20 6&+!"-/% !&)[`V^?%`IIH
!"!
#$/2+$./3.3/$.A% b20#% +$81)*:')023*
/0+)4&%'5` 32,,$2# 3>% 2*E'01)02*8% '$:63&<0$.?% 0#$1$% 2.% >1)8(
/$*0)023*%)*+%:'02/)0$%'3..%3>%0#$%')/(
b)'0$1%e$5$1%7).%)%423*$$1%2*%&')..2><2*8 "??;8AN9DBAEAKF
-:''3:.% 4$/4#2832+% ).% )% +2.$).$% +2>>$1(
$*0% >13/% 4$/4#28:.% 720#% 20.% 37*% +2.( M21$&0% 2//:*39:31$.&$*&$% 3>% 4$12'$(
02*&025$% &'2*2&)'% )*+% #2.03'382&% >$)0:1$.AH .23*)'%.62*%>13/%4$/4#2832+%4)02$*0.%1$(
"#2.%7).%2/4310)*0%-$&):.$%)0%0#$%02/$ 5$)'.% 2//:*31$)&0)*0.% +$43.20$+% 2*% )
4$/4#28:.% 5:'8)12.% :.:)''<% 7).% >)0)'? 2G;9EEF'A<<;:G'I8'7E>7:EF'N9DI78DGC '2*$)1%4)00$1*%)0%0#$%$42+$1/)'%-).$/$*0
7#$1$).%-:''3:.%4$/4#2832+%#)+%)%&3/( *A:D9EIDF']'N7:<78D'DA'`_'N7:<78D'I8'6'F79:C /$/-1)*$A`?P% TP% 2.% +$0$&0$+% 2*% )'/3.0
4)1)025$'<% 833+% 4138*3.2.A% "#2.% &')..2E( )''% 4)02$*0.?% .3/$02/$.% ).% 0#$% .3'$% 2/(
):;:IDI<';:DI<9:I9E'E7GIA8G'98>'D78G7'E9:K7'
&)023*% 3>% -:''3:.% 4$/4#2832+% )*+% 4$/( /:*31$)&0)*0;% #37$5$1?% R8X% 2.% )'.3% +$(
OEIGD7:GC'$:9E'?;<A;G'?7?O:987'7:AGIA8G'
4#28:.%7).%&3*E1/$+%)*+%>:''<%B:.02E$+ 0$&0$+%2*%/3.0%4)02$*0.%NW28A%JS(HKOAH`,HS
I8'?I8A:IDF'AH'N9DI78DGC'
-<% 0#$% +2.02*&025$% 2//:*34)0#3'382& R*+21$&0%2//:*39:31$.&$*&$%2*+2&)0$.
>$)0:1$.%3>%0#$.$%+2.$).$.%+2.&35$1$+%)4( )9DBAEAKF'GBAZG'G;O.7NI>7:?9E'OEIGD7:G' 0#)0% )4413@2/)0$'<% UI% 4$1&$*0% 03% !I
413@2/)0$'<%H`%<$)1.%')0$1A`?P ZIDB'7AGI8ANBIEGC 4$1&$*0% 3>% 4)02$*0.% 720#% -:''3:.% 4$/(
!I:7<D'I??;8Ad;A:7G<78<7'GBAZG'/a' 4#2832+% #)5$% &21&:')02*8% R8X% 0#)0% -2*+.
98>'I??;8AKEAO;EI8'L'9D'7NI>7:?9E' 03% 0#$% -).$/$*0% /$/-1)*$% 3>% *31/)'
&)"!&*"$,$L\ O9G7?78D'?7?O:987M'I8>I:7<D'I??;8A. .01)02E$+% .=:)/3:.% $420#$'2)?% .:&#% ).
"#$% /)B3120<% 3>% 4)02$*0.% 720#% -:''3:. d;A:7G<78<7'GBAZG'98DIlO9G7?78D' #:/)*%$42+$1/2.%31%/3*6$<%$.34#)8:.
4$/4#2832+%)1$% 3'+$1% 0#)*% VI% <$)1.% 3'+ ?7?O:987'I??;8AKEAO;EI8'L'I8'G7:;?C N.$$ W28A% JS(HDOAH`,HJ%L3.0%4)02$*0.% 720#
)0% 0#$% )8$% 3>% 3*.$0?% 720#% )% 4$)6% 2*&2( +;DA98DIK78G'9:7'N:AD7I8G'I8'DB7'=7:9DI8A. &21&:')02*8% )*02,-).$/$*0% /$/-1)*$
+$*&$% 2*% 0#$% !I.% )*+% 3'+$1AS?J% K'0#3:8# <FD7'B7?I>7G?AGA?7M'9'O9G9E'<7EE.O9G7. R8X%)'.3%#)5$%)*02,-).$/$*0%/$/-1)*$
-:''3:.%4$/4#2832+%+3$.%3&&:1%1)1$'<%2* ?78D'?7?O:987'9>B7GIA8'GD:;<D;:7C R8c%2*%0#$21%.$1)AHV,H!%R>%0#$%2//:*39:3(
'+1$*?V% 1$4310.% $)1'2$1% 0#)*% )4413@2( 1$.&$*&$%.:-.01)0$%2.%2*&:-)0$+%E1.0%2*%H
/)0$'<%H^UI%N7#$*%0#$%:.$%3>%2//:*3( 4B7:9NF'I8<E;>7G'DANI<9E'98>'GFGD7?I<' P%Q)T'%03%.$4)1)0$%0#$%$42+$1/2.%>13/
9:31$.&$*&$%>31%+2)8*3.2.%-$&)/$%/31$ <A:DI<AGD7:AI>G'98>'I??;8AG;NN:7GGIP7GC 0#$% +$1/2.% )0% 0#$% ')/2*)% ':&2+)?% 0#$*
72+$.41$)+O% 7$1$% 2*)&&:1)0$% -$&):.$ )*% $5$*% #28#$1% 4$1&$*0)8$% 3>% 4)02$*0.
0#$.$%/3.0%'26$'<%2*&':+$+%'+1$*%720# 02.#% /$*% 3'+$1% 0#)*% !J% <$)1.% 3'+% 2.% 1$( 72'' #)5$% +$0$&0)-'$% &21&:')02*8% )*02(

*2&% -:''3:.% +2.$).$% 3>% '+#33+? 4310$+%).%SU`%&).$.%4$1%/2''23*%4$1%<$)1A -3+<AH^?`I%R*%)++2023*%03%-$2*8%/31$%.$*(
7#2&#% 2.% *37% +2>>$1$*02)0$+% >13/% -:'( .2025$?% 0#$% 30#$1% )+5)*0)8$% 3>% 0#2.% H% P
'3:.%4$/4#2832+%-<%0#$%41$.$*&$%3>%2/( Q)T'(.4'20%.:-.01)0$%2.%0#)0%-:''3:.%4$/(
/:*38'3-:'2*% K% NR8KO?% 1)0#$1% 0#)*% R8X? &4"$,$L\'+-!')+40$L&-&#"# 4#2832+% )*02-3+2$.% -2*+% 03% 0#$% 133>% 3>
)0%0#$%-).$/$*0%/$/-1)*$%F3*$A%"#$1$ 0#$% )102E&2)''<% 2*+:&$+% -'2.0$1% N2A$A?% 0#$
&E7<D:A8'*I<:AG<ANF
2.%*3%6*37*%$0#*2&?%1)&2)'?%31%.$@:)'%41$( -3003/% 3>% 0#$% -).)'% &$''.O% )*+% 0#:.% &)*
+2'$&023*%>31%+$5$'342*8%-:''3:.%4$/4#2( C'01).01:&0:1)'%.0:+2$.%+$/3*.01)0$%0#)0 -$% +2>>$1$*02)0$+%>13/% 0#$%)*02-3+2$.%3>
832+A% "#$% 2*&2+$*&$% 3>% -:''3:.% 4$/4#2( $)1'<% -'2.0$1% >31/)023*% 2*% -:''3:.% 4$/( 4)02$*0.% 720#% $42+$1/3'<.2.% -:''3.)% )&(
832+%2.%$.02/)0$+%03%-$%.$5$*%4$1%/2''23* 4#2832+%3&&:1.%2*%0#$%')/2*)%':&2+)?%-$( =:2.20)% NcDKO;% 0#$21% )*02-3+2$.% -2*+% 0#$
4$1% <$)1% 2*% -30#% W1)*&$% )*+% X$1/)*<? 07$$*%0#$%-).)'%&$''%/$/-1)*$%)*+%0#$ -).$%N2A$A?%+$1/)'%.2+$;%W28A%JS(`OA%R*%&3*(
)*+% HS% 4$1% /2''23*% 4$1% <$)1% 2*% _&30( ')/2*)% +$*.)A^% b20#% -'2.0$1% >31/)023*? 01).0% 03% 4$/4#28:.?% 2*% -:''3:.% 4$/4#2(
')*+AJ?U?!%d37$5$1?%0#$%2*&2+$*&$%2*%_&30( 0#$1$%2.%'3..%3>%)*ĸ*8%E')/$*0.%)*+ 832+% 0#$% 2*+21$&0% 2//:*39:31$.&$*&$
< =
56789#,:!.; "??;8Ad;A:7G<78<7'I8'O;EEA;G'N7?NBIKAI>C'<B'!I:7<D'I??;8Ad;A:7G<78<7'AH'N7:IE7GIA89E'G=I8'GBAZG'9'EI879:'O98>'AH'/a'X!a`_YC'=B'"8>I:7<D
I??;8Ad;A:7G<78<7'GBAZG'9'EI879:'N9DD7:8'AH'I??;8AKEAO;EI8'L'OI8>I8K'DA'DB7'7NI>7:?9E'O9G7?78D'?7?O:987'AH'8A:?9E'G=I8'X!a`_YC
!":
< =
56789#,:!.? "8>I:7<D'I??;8Ad;A:7G<78<7'A8'8A:?9E'G=I8'N:7PIA;GEF'I8<;O9D7>'I8'6'='-9/EC'<B,"??;8AKEAO;EI8'L'X"KLY'H:A?'O;EEA;G'N7?NBIKAI>'G7:;?
OI8>G'DA'DB7':AAH'AH'DB7'9:DIT<I9E'OEIGD7:'X!aa_YC'=B'"KL'I8'7NI>7:?AEFGIG'O;EEAG9'9<W;IGID9'G7:;?'OI8>G'DA'DB7'O9G7'X!^65YC
)*02-3+<%020$1%+3$.%*30%:.:)''<%&311$')0$ 6$1)02*% 2*0$1/$+2)0$% E')/$*0.% 03% 0#$ 1$&38*2F$% )% 4)102&:')1% $42034$% N&)''$+
720#%+2.$).$%$@0$*0%31%)&02520<A`H +$./3.3/$%N.$$%T#)4A%JHOAPH?P`%D\KXH$ H;=Z"O% 2*% )% ./)''% *3*&3'')8$*3:.% 1$(
R*% )++2023*% 03% TP?% 30#$1% &3/43*$*0. #).% -$$*% '3&)'2F$+% :'01).01:&0:1)''<% 03 823*% 3>% D\KX`% 0#)0% 2.% B:.0% 3:0.2+$% 0#$
3>% -30#% 0#$% &')..2&)'% )*+% )'0$1*)025$ 0#$% 4')=:$% 3>% 0#$% #$/2+$./3.3/$?% $@( /$/-1)*$ASS?SJ% K.% +2.&:..$+% 2*% \)0#3(
&3/4'$/$*0% 4)0#7)<.% )*+% 0#$% &3/( )&0'<% 7#$1$% 6$1)02*% 2*0$1/$+2)0$% E')( 4#<.23'38<% 3>% e$.23*% \13+:&023*?% )*02(
4'$/$*0%1$8:')031<%4130$2*% Hd%)1$%+$( /$*0.% 2*.$10APP% W:10#$1% 4133>% 0#)0% 0#$ -3+2$.% )8)2*.0% 0#2.% $42034$% )1$% &)4)-'$
43.20$+% )0% 0#$% $42+$1/)'% -).$/$*0 >:*&023*%3>%D\KX'$%2.%03%)*%6$1)02* 3>% /$+2)02*8% .:-($42+$1/)'% -'2.0$1% >31(
/$/-1)*$% F3*$% 2*% -:''3:.% 4$/4#2( 2*0$1/$+2)0$% E')/$*0.% 03% 0#$% #$/2+$.( /)023*% 2*% *$3*)0)'% /2&$A% K0% 2*202)'% 41$(
832+ 4)02$*0.A``,`S% K&025)0$+% &3/4'$( /3.3/$% 7).% 3-0)2*$+% -<% )*)'<.2.% 3>% ) .$*0)023*?% $*F</$('2*6$+% 2//:*3.31(
/$*0%&3/43*$*0.%)1$%>3:*+%2*%0#$%-'2.( /3:.$% 0#)0% 7).% 8$*$02&)''<% $*82*$$1$+ -$*0% )..)<% 03% /$).:1$% 1$)&02520<% 3>
0$1% 9:2+% 3>% 0#$.$% 4)02$*0.?% )*+% 2*% 52013 720#% )% 0)18$0$+% +$'$023*% 3>% 0#2.% /3'$( 4)02$*0% .$1)% )8)2*.0% 0#$% QTHV)% +3/)2*
&3/4'$/$*0% E@)023*% 2//:*39:31$.( &:'$APS% "#2.% /3:.$% .#37$+% >1)82'20<% 3> 3>% D\KX`% 2.% -30#% .$*.2025$% )*+% .4$&2E&
&$*&$%)..)<.%2*+2&)0$%0#$%)-2'20<%3>%-:'( -).)'%&$''.%+:$%03%&3'')4.$%3>%0#$%6$1)02* >31% )% +2)8*3.2.% 3>% -:''3:.% 4$/4#2(
'3:.%4$/4#2832+%.$1)%03%E@%&3/4'$/$*0 E')/$*0%*$07316%-:0%*3%$42+$1/)'(+$1( 832+ASV,S!% R*% )++2023*?% )*02-3+<% 020$1.
&3/43*$*0.%3>%0#$%&')..2&)'%)*+%)'0$1*)( /)'% )+#$.23*% +$>$&0?% .:88$.02*8% 0#)0 )8)2*.0% 0#2.% $42034$?% ).% +$0$1/2*$+% -<
025$% 4)0#7)<.% 03% 0#$% $42+$1/)'% -).$( -:''3:.% 4$/4#2832+% )*02-3+2$.% +3% *30 $*F</$('2*6$+% 2//:*3)..)<?% &311$')0$
/$*0%/$/-1)*$A%"#$.$%.0:+2$.%.:88$.0 )&0%-<%2*#2-202*8%0#$%>:*&023*%3>%D\KXH$A 720#% +2.$).$% )&02520<AS^% W:10#$1% $52(
0#)0% -:''3:.% 4$/4#2832+% R8X% &):.$. R*% >)&0?% -$&):.$% D\KXH$% 2.% 2*.2+$% 0#$ +$*&$% 0#)0% D\KX`% /$+2)0$.% $42+$1/)'(
&3/4'$/$*0% )&025)023*% -<% 0#$% &')..2& &$''?%20%2.%:*&'$)1%2>%4)02$*0%):03)*02-3+( +$1/)'%)+#$.23*%&3/$.%>13/%)*)'<.2.%3>
4)0#7)<?%720#%)&025)023*%3>%0#$%)'0$1*)( 2$.% *31/)''<% #)5$% )&&$..% 03% 20A% R*0$1$.0( 0#$%8$*$%+$>$&0%2*%4)02$*0.%720#%0#$%8$(
025$% 4)0#7)<% -<% 0#$% TP% )/4'2E&)023* 2*8'<?% )*% )'0$1*)025$'<% .4'2&$+% >31/% 3> *$02&% .:-($42+$1/)'% -'2.0$12*8% +2.$).$
/$&#)*2./A D\KXH$% 2.% $@41$..$+% 2*% *$:1)'% 02..:$A 8$*$1)'2F$+% )0134#2&% -$*28*% $42+$1/3'(
Q37% 0$1/$+% @48A=,?% 0#2.% >31/% .0)-2( <.2.%-:''3.)A% "#$.$% 4)02$*0.%#)5$% 1$&$.(
'2F$.% 0#$% &<03.6$'$03*% 3>% .$*.31< .25$'<%2*#$120$+%/:0)023*.%2*%0#$%@48A>
)7?NBIKAI>'+8DIK78G
*$15$.?PJ?PV%B:.0%).%D\KXH$%.0)-2'2F$.%0#$ 8$*$%0#)0%1$.:'0%2*%)%/2..2*8%31%+<.>:*&(
R//:*3$'$&013*%/2&13.&342&%.0:+2$.%#)5$ &<03.6$'$03*%3>%$42+$1/)'%&$''.A 023*)'%4130$2*%N.$$%T#)4A%VIOAJI
'3&)'2F$+% -:''3:.% 4$/4#2832+% )*028$*% 2* R//:*3&#$/2&)'% .0:+2$.% #)5$% )'.3 Q30% 3*'<% 4)02$*0.% 720#% -:''3:.% 4$/(
0#$% #$/2+$./3.3/$?% )*% )+#$.23*% B:*&( 1$5$)'$+% 0#)0% )'/3.0% )''% 4)02$*0.% 720# 4#2832+% )*+% #$14$.% 8$.0)023*2.% -:0% )'.3
023*%2/4310)*0%2*%)*ĸ*8%0#$%-).)'%&$'' -:''3:.%4$/4#2832+?%).%7$''%).%4)02$*0. 4)02$*0.%720#%'2*$)1%R8K%+2.$).$?%&2&)012(
03%0#$%-).$/$*0%/$/-1)*$A`J?`V%K:03)*( 720#% #$14$.% 8$.0)023*2.?% #)5$% ):03)*02( &2)'%4$/4#2832+?%)*+%'2&#$*%4')*:.%4$/(
02-3+2$.% -2*+% -30#% 2*.2+$% 0#$% &$''% 03% 0#$ -3+2$.% )8)2*.0% )% H!I(6+% /3'$&:'$% *37 4#2832+$.%#)5$%)*02-3+2$.%)8)2*.0%D\KX`
4')=:$%3>%0#$%#$/2+$./3.3/$%)*+%3:0( &)''$+ @48A>% 31% -T1&' DEFF' #/%%"0&,APU,P^ 31%20.%/$0)-3'2&%413+:&0.AJH
.2+$% 0#$% &$''% 03% 0#$% $@01)&$'':')1% >)&$% 3> "#$%&3/4'$/$*0)1<%MQK%$*&3+2*8%0#$
0#$%#$/2+$./3.3/$A D\KX`% /3'$&:'$% #).% -$$*% &'3*$+?% )*+ )9DBANBFGIAEAKF'AH'
L3'$&:')1%&#)1)&0$12F)023*%3>%-:''3:. 0#$% $@41$..$+% 4130$2*% 2.% )% 01)*./$/(
,7GIA8'):A>;<DIA8
4$/4#2832+% )*028$*% -<% 2//:*3&#$/2( -1)*$% /3'$&:'$% 720#% )% &3'')8$*3:.% $@(
&)'% /$0#3+.% 1$5$)'$+% 0#$% :*$@4$&0$+ 01)&$'':')1%+3/)2*ASI%K*02-3+2$.%)8)2*.0 K:03)*02-3+2$.?%4)102&:')1'<%0#3.$%)8)2*.0
E*+2*8% 0#)0% ):03)*02-3+2$.% >13/% 0#$.$ D\KX`% '3&)'2F$% 20% ).% )% 01)*./$/-1)*$ D\KX`?% +$0$&0$+% 2*% 4)02$*0.% 720#% -:'(
4)02$*0.% -2*+% 073% +2.02*&0% /3'$&:'$.A`U /3'$&:'$% )0% 0#$% #$/2+$./3.3/$?% )*+ '3:.% 4$/4#2832+% )1$% 413-)-'<% 4)0#3(
L3.0%-:''3:.%4$/4#2832+%4)02$*0.%#)5$ &$''%-23'382&%.0:+2$.%2*+2&)0$%0#)0%20.%&<( 8$*2&A% D:''3:.% 4$/4#2832+% R8X% 2*B$&0$+
)*02-3+2$.%)8)2*.0%)%`PI(6+%/3'$&:'$A`!,PI 034')./2&%+3/)2*%0)18$0.%20%03%0#)0%'3&)( 2*03%1)--20%&31*$)%E@$.%03%0#$%-).$/$*0
T'3*2*8% 3>% 0#$% &3/4'$/$*0)1<% MQK 023*ASH?S`% "#$% $@01)&$'':')1% +3/)2*% 3> /$/-1)*$%)*+%&):.$.%.:-$420#$'2)'%-'2.(
$*&3+2*8% 0#2.% /3'$&:'$% N*37% &)''$+ D\KX`%#).%-$$*%'3&)'2F$+%03%)*ĸ*8 0$1% >31/)023*AJ`% R*% 52013% .0:+2$.% 720#
@48A=%31%@48A=&O%2*+2&)0$+%0#)0%20%-$( E')/$*0.ASP% "#$% ):03)*02-3+2$.% >13/ *31/)'% #:/)*% .62*% .$&023*.% 2*+2&)0$
'3*8.%03%)%8$*$%>)/2'<%0#)0%2*&':+$.%+$.( /3.0%4)02$*0.%720#%-:''3:.%4$/4#2832+ 0#)0% 0#$% -:''3:.% 4$/4#2832+% R8X% 2.% &)(
/34')62*% R?% )% +$./3.3/$% 4')=:$% 413( N).% 7$''% ).% 0#3.$% >13/% 4)02$*0.% 720# 4)-'$% 3>% )&025)02*8% &3/4'$/$*0% -<% 0#$
!"G 0$2*% 0#)0% 2.% 2/4310)*0% 2*% )*ĸ*8 4$/4#2832+% 8$.0)023*2.;% .$$% T#)4A% JUO &')..2&)'% 4)0#7)<?% 0#$1$-<% &):.2*8% '$:(
63&<0$% )+#$1$*&$% 03% 0#$% -).$/$*0
/$/-1)*$?% 720#% +$81)*:')023*% )*+% 1$( :!>@G.<#$5(.:PQ S2"4+-$).:!>@G
.:'02*8% +$1/)'($42+$1/)'% .$4)1)023*AJP %2*+.:PQ
K'/3.0% )''% 4)02$*0.% 720#% )&025$% -:''3:. A*+/'-+-$)."1)#6")#*$
4$/4#2832+% #)5$% )*02(D\KX`% R8XH?% ) ?4L :!>@G
.:-&')..% &)4)-'$% 3>% &3/4'$/$*0% E@)(
AR> *$.+"().1-''
023*?% 7#$1$).% /3.0% 4)02$*0.% 2*% 1$/2.(
.23*%#)5$%)*02(D\KX`%R8XS?%7#2&#%+3$.
*30%E@%&3/4'$/$*0AJS P"().1-''(.5-42"$&'")-
R*% )*% $'$8)*0% )*+%2*>31/)025$% )*2/)'
/3+$'?% 20% #).% -$$*% +$/3*.01)0$+% 0#)0 L*(#$*/0#'.10-+*)"7#( @-'")#$"(-
)*02-3+2$.% )8)2*.0% D\KX`% &)*% 2*+:&$
+2.$).$% -<% 4)..25$% 01)*.>$1% 03% *$3*)0)' H-&)2*/0#'.10-+*)"7#( H-&)2*/0#'.-'"()"(-
/2&$AJJ%R*%0#$.$%.0:+2$.?%)*02-3+2$.%7$1$
1)2.$+% 2*% 1)--20.% )8)2*.0% 0#$% $42034$% 3*
/3:.$% D\KX`% 0#)0% &311$.43*+.% 03% 0#$ H-&)2*/0#'(."50-2- @-'")#$"(-.: FJ!'
$42034$% 0#)0% /3.0% #:/)*% -:''3:.%4$/( )*.S1.*%.<*&$5.'4@
4#2832+% )*+% 4$/4#2832+% 8$.0)023*2. PP!JT
.$1)%1$&38*2F$A%\)..25$%01)*.>$1%3>%0#$.$
1)--20% )*02-3+2$.% 03% *$3*)0)'% /2&$% 2*( :'#()-2
+:&$.%-'2.0$1.%720#%#2.03'38<%5$1<%.2/2(
')1% 03% 0#)0% 3>% -:''3:.% 4$/4#2832+% '$( 56789#,:!.A #I?NEIT7>'G<B7?9DI<'HA:'A87'?A>7E'AH'DB7'N9DBANBFGIAEAKF'AH'OEIGD7:'HA:?9DIA8'I8'O;EEA;G
.23*.A% R*% 0#2.% /3+$'?% &3/4'$/$*0? N7?NBIKAI>C'3*eM'O9G7?78D'?7?O:987'JA87U'"K'['I??;8AKEAO;EI8U'**).g'['?9D:IQ'?7D9EEAN:AD7I89G7'gC
*$:0134#2'.?%)*+% *$:0134#2'% $').0).$% )1$
*$&$..)1<% >31% )*02(D\KX`% 2*+:&023*% 3> )*)4#<')@2.A%W2*)''<?%'$:63&<0$%)*+%/).0 413+:&023*% 2*% -:''3:.% 4$/4#2832+% 1$(
-'2.0$1% >31/)023*AJV,J^% W:10#$1% 3-.$15)( &$''%4130$).$.%1$.:'0%2*%+$1/)'($42+$1/)' /)2*.%3-.&:1$?%)'0#3:8#%0#$%35$1$@41$.(
023*.% 720#% 0#2.% /3+$'% .#37% 0#)0% /).0 .$4)1)023*A% W31% $@)/4'$?% $3.2*34#2'.? .23*% 3>% 0#$% &')..% RR% /)B31% % #2.03&3/4)0(
&$''% +$E&2$*0?%/)012@% /$0)''34130$2*).$( 0#$% 41$+3/2*)*0% 2*9)//)031<% &$''% )0 )-2'20<% &3/4'$@% )''$'$% 6V5&-"=UC7C=% 2*
^,+$E&2$*0?% )*+% 8$')02*).$% D,+$E&2$*0 0#$% -).$/$*0% /$/-1)*$% 2*% -:''3:. -:''3:.% 4$/4#2832+% 4)02$*0.% .:88$.0.
/2&$%)1$%1$.2.0)*0%03%)*02(D\KX`%-'2.0$1( 4$/4#2832+% '$.23*.?% 413+:&$% )% 8$')02( 0#)0% 41$.$*0)023*% 3>% D\KX`% 4$402+$.% 03
2*8AVI,VP%L)012@%/$0)''34130$2*).$(^%)*+ *).$%0#)0%&'$)5$.%0#$%&3'')8$*3:.%$@01)( 0#$%2//:*$%.<.0$/%2*%)%7)<%0#)0%&):.$.
8$')02*).$%D%)1$%0#3:8#0%03%+$81)+$%)*02( &$'':')1% +3/)2*% 3>% D\KX`?% 413-)-'< +2.$).$% 2.% 1$.012&0$+% 03% 2*+252+:)'.% 720#
4130$2*).$% H% )*+% +$&1$).$% 20.% 2*#2-2023* &3*012-:02*8% 03% -'2.0$1% >31/)023*AVS% R* &$10)2*%2//:*$%1$.43*.$%8$*$.AV!
3>%*$:0134#2'%$').0).$AV`?VP /2&$?% *$:0134#2'% $').0).$% 2.% &1202&)'% >31
R8c% )*02(D\KX`% )*02-3+2$.% /)<% )'.3 -'2.0$1%>31/)023*?%).%+2.&:..$+%$)1'2$1%2*
4')<%)%13'$%2*%-'2.0$1%>31/)023*AHU?H!%"#$ 0#2.% .$&023*A% a)123:.% 30#$1% 4130$).$.
/,"-"/+,'("-!"-L#
)*02-3+2$.% *30% 3*'<% -2*+% 03% 0#$% $42+$1( /)<% )'.3% -$% 2*53'5$+% 2*% 1$8:')02*8% 0#2. #=I8'98>'*;<A;G'
/)'% -).$/$*0% /$/-1)*$?% -:0% )'.3? &).&)+$%3>%$5$*0.%).%.#37*%2*%W28A%JS(PA
*7?O:987'"8PAEP7?78D
0#13:8#%0#$21%W&%0)2'?%-2*+%0#$%.:1>)&$%3> "#$%1$')025$%2/4310)*&$%3>%$)&#%3>%0#$.$
/).0% &$''.A% D\KX`% >1)8/$*0.?% $20#$1% 1$( 4)0#7)<.% 2*% -'2.0$1% >31/)023*% 2*% #:( "#$%.62*%'$.23*%&#)1)&0$12.02&%3>%-:''3:.
'$).$+%+:12*8%0#$%*31/)'%1$/3+$'2*8%3> /)*.%1$/)2*.%03%-$%+$0$1/2*$+A 4$/4#2832+%2.%)%')18$?%0$*.$%-'2.0$1%)12.(
0#$% -).$/$*0% /$/-1)*$% 31% >13/% 413( R*%'28#0%3>%2+$*02E&)023*%3>%0#$%-:''3:. 2*8% 3*% *31/)'% .62*% 31% 3*% )*% $1<0#$/)(
0$).$% +$81)+)023*% 2*% -:''3:.% 4$/4#2( 4$/4#2832+% )*028$*.% ).% &3/43*$*0.% 3> 03:.%-).$%NW28A%JS(SOAS%"#$.$%'$.23*.%)1$
832+?% 31% -30#?% /)<% -2*+% 0#$.$% R8c% )*02( 0#$% #$/2+$./3.3/$?% 20% )'.3% /:.0% -$ /3.0% &3//3*% 3*% 0#$% '37$1% )-+3/$*?
-3+2$.?% 0#$1$-<% &):.2*8% +$81)*:')023* &3*.2+$1$+% 0#)0% )*02-3+2$.% /)<% 2*0$1( 2**$1%31%)*0$1231%0#28#.?%)*+%9$@31%>31$(
3>%/).0%&$''.A >$1$% +21$&0'<% 720#% 0#$% >:*&023*% 3>% 0#2. )1/.?% )'0#3:8#% 0#$<% /)<% 3&&:1% )*<(
"#$%41$&$+2*8%2//:*34)0#3'382&%3-( )+#$.23*%B:*&023*%0#3:8#0%03%-$%2/431( 7#$1$A%"#$%-:'')$%:.:)''<%)1$%E''$+%720#
.$15)023*.% )1$% &3*.2.0$*0% 720#% )% 413( 0)*0% 2*% )*ĸ*8% 0#$% -).)'% &$''.% 03% 0#$ &'$)1% 9:2+% -:0% /)<% -$% #$/311#)82&A
43.$+%4)0#34#<.23'382&%$@4')*)023*%>31 -).$/$*0% /$/-1)*$A% R*% 0#2.% 1$8)1+?% ) c13+$+%.62*%>13/%1:40:1$+%-'2.0$1.%:.:(
-'2.0$1%>31/)023*%2*%-:''3:.%4$/4#2832+ /$&#)*2./% 3>% -'2.0$1% >31/)023*% 2* )''<%.#37.%)%833+%0$*+$*&<%03%1$$420#$(
NW28A% JS(POAVP% "#$% 2*202)'% .0$4% 2*% -'2.0$1 7#2&#% )*02-3+2$.% )8)2*.0% D\KX`% 2*0$1( '2)'2F$?% )*+?% :*'26$% 4$/4#28:.% 5:'8)12.?
>31/)023*% 2.% 43.0:')0$+% 03% -$% )*02-3+< >$1$% 720#% #$/2+$./3.3/$% >31/)023* 0#$.$%$13.23*.%+3%*30%0$*+%03%$@4)*+%)0
-2*+2*8%03%0#$%-:''3:.%4$/4#2832+%)*02( #).%-$$*%41343.$+AVJ 0#$% 4$124#$1<A% d37$5$1?% *$7?% +2.&1$0$
8$*A% W2@)023*% 3>% R8X% 03% 0#$% -).$/$*0 "#$%2*53'5$/$*0%3>%)*02-3+2$.%)8)2*.0 5$.2&'$.%/)<%>31/%)0%0#$%$+8$%3>%3'+?%1$(
/$/-1)*$% )&025)0$.% 0#$% &')..2&% &3/( D\KXH?% ).% 3443.$+% 03% D\KX`?% 2*% &):.( .3'52*8% '$.23*.A% "#$% '$.23*.% 3>% -:''3:.
4'$/$*0%&).&)+$%)*+%413-)-'<%)'.3%0#$ 2*8%-'2.0$1.%2.%*30%).%7$''%$.0)-'2.#$+A%K 4$/4#2832+% +3% *30% .&)1A% "#$1$% 2.% :.:(
TP%)/4'2E&)023*%/$&#)*2./A%K&025)0$+ >$7% $@4$12/$*0)'% )*2/)'% /3+$'. .:8( )''<?%-:0%*30%)'7)<.?%/)16$+%41:120:.A
&3/4'$/$*0%&3/43*$*0.%&):.$%&#$/3( 8$.0% 0#)0% 0#$.$% )*02-3+2$.% /)<% -$% 2*( _3/$02/$.%0#$%$1<0#$/)03:.%&3/43(
0)@2.%3>%'$:63&<0$.%).%7$''%).%+$81)*:')( 53'5$+?%$.4$&2)''<%)>0$1%-).$/$*0%/$/( *$*0% 41$+3/2*)0$.?% )*+% 4)02$*0.% /)<
023*%3>%/).0%&$''.A%K*02(D\KX`%R8c%/)< -1)*$% +)/)8$?% -:0% 0#$% $52+$*&$% *30% ). 41$.$*0% 720#% :102&)12)'% '$.23*.?% $.4$(
)'.3% &3*012-:0$% 03% /).0% &$''% +$81)*:')( &3*52*&2*8%>31%412/)1<%&):.)023*%).%0#)0 &2)''<%$)1'<%2*%0#$%&3:1.$%3>%+2.$).$%N.$$
023*A% L).0% &$''% 413+:&0.% &):.$% &#$/3( >31%)*02(D\KX%`%)*0-23+2$.AVV?VU W28A% JS(SDOA% "#$% $1<0#$/)03:.% &3/43(
0)@2.% 3>% $3.2*34#2'.% 0#13:8#% /$+2)031. K.% 2*% /3.0% ):032//:*$% +2.$).$.?% 0#$ *$*0% )'.3% &)*% )44$)1% .$14282*3:.?% 720#
.:&#%).%$3.2*34#2'%&#$/30)&02&%>)&031%3> &):.$% 3>% 0#$% 2*+:&023*% 3>% ):03)*02-3+< 4$124#$1)'%-'2.0$1.?%)*+%/)<%-$%=:20$%$@(
!""
/:*39:31$.&$*&$%E*+2*8.A%W31%$@)/4'$?
'$.23*.% 2*% -:''3:.% 4$/4#2832+% .3/$(
02/$.% )1$% '3&)'2F$+?% /3.0% &3//3*'<% 03
0#$%'37$1%'$8.AUI%"#$.$%4)02$*0.%720#%'3(
&)'2F$+% +2.$).$% #)5$% )*02-3+2$.% )8)2*.0
0#$%.)/$%4$/4#2832+%)*028$*.%+$.&12-$+
2*% \)0#34#<.23'38<% 3>% e$.23*% \13(
+:&023*UH?U`%)*+%0#$<%/)<%83%3*%03%8$*(
$1)'2F$+% -:''3:.% 4$/4#2832+% 31% 1$/)2*
'3&)'2F$+% >31% <$)1.A% "#$1$% 2.% )% .4$&2E&
0<4$% 3>% '3&)'2F$+% 4$/4#2832+% +$.&12-$+
2*%<3:*8%821'.%2*%7#2&#%-'2.0$1.%)*+%$13(
.23*.%)1$%'2/20$+%03%0#$%5:'5)1%)*+%4$12(
5:'5)1% )1$)A UP% K.% 2*% 30#$1% >31/.% 3> <
'3&)'2F$+% 4$/4#2832+% )*+% '+#33+
4$/4#2832+?% )*02-3+2$.% >13/% 0#2.% +2.(
$).$% -2*+% 0#$% 4$/4#2832+% )*028$*.AV?UP
Q30%2*>1$=:$*0'<?%$.4$&2)''<%$)1'<%2*%+2.(
$).$?% 4)02$*0.% /)<% #)5$% 3*'<% :102&)12)'
)*+% $&F$/)03:.% '$.23*.% 720#3:0% -:'')$A
G0#$1% '$..% :.:)'% 41$.$*0)023*.% 2*&':+$
$1<0#13+$1/)?% 41:1283% *3+:')12.,'26$% 31
5$8$0)02*8% '$.23*.?% )*+% +<.#2+1302&% +$1(
/)0202.,'26$% '$.23*.A% K8)2*?% 0#$% )*02-3+(
2$.%>13/%0#$.$%4)02$*0.%.#37%0<42&)'%2/(
/:*39:31$.&$*&$% '3&)'2F)023*% )*+% -2*+
< 0#$%4$/4#2832+%)*028$*.AUS,UU =
56789#,:!.: 3;EEA;G' N7?NBIKAI>C' <B' &QD78.
):7<INID9DI8K'(9<DA:G GIP7' ;:DI<9:I9EM' I8d9??9DA:F' NE9W;7G' ZIDB' <78D:9E
:7K:7GGIA8'98>'BFN7:NIK?78D9DIA8C'=B,,9:K7M'D78G7
L3.0%&).$.%3>%-:''3:.%4$/4#2832+%3&&:1
O;EE97'98>'7:FDB7?9DA;G';:DI<9:I9E.DFN7'E7GIA8GC
.431)+2&)''<%720#3:0%)*<%3-523:.%41$&24(
20)02*8% >)&031.A% d37$5$1?% 0#$1$% )1$% .$5( .3/$% $3.2*34#2'.A% D234.2$.% >13/% -'2.0$1.
$1)'% 1$4310.% 3>% 41$&2420)023*% 3>% -:''3:. )12.2*8% 3*% $1<0#$/)03:.% -).$.% 0$*+% 03
4$/4#2832+%-<%:'01)523'$0%NCaO%'28#0?%$2( #)5$% /31$% $@0$*.25$% 2*E'01)0$.A% c3.2*3(
0#$1%CaD%31%4.31)'$*.%720#%CaK?%)*+%1)( 4#2'.% )1$% )'.3% .$$*% 3>0$*% 2*% 0#$% -'2.0$1
+2)023*%0#$1)4<AU!,!H &)520<A% Q$:0134#2'.% /)<% -$% .$$*% 2*% 0#$
2*E'01)0$?% -:0% 2*% &3*01).0% 03% #2.03'382&
= ,9OA:9DA:F'+O8A:?9EIDI7G E*+2*8.%2*%+$1/)0202.%#$14$02>31/2.?%0#$<
.$'+3/%>31/%/2&13)-.&$..$.%2*%0#$%4)42'(
56789#,:!.! 3;EEA;G'N7?NBIKAI>C'<B',9:K7M R*%)++2023*%03%0#$%2//:*34)0#3'382&%>$)( ')1<% 024.A% C102&)12)'% '$.23*.% /)<% .#37
D78G7' O;EE97' 98>' 7:FDB7?9DA;G' ?9<;E7G' A8' DB7 0:1$.%+$.&12-$+%$)1'2$1?%)'/3.0%3*$(#)'>%3> 3*'<%)%.:4$1E&2)'%+$1/)'%2*E'01)0$%3>%'</(
DBIKBG' 98>' EAZ7:' E7KGC' X2G7>' ZIDB' N7:?IGGIA8 4)02$*0.% 72''% #)5$% $'$5)0$+% 030)'% .$1:/ 4#3&<0$.?% #2.023&<0$.?% )*+% $3.2*34#2'.
H:A?'@9?7G'(IDJN9D:I<=M'*!CY'=B'2:DI<9:I9E'E7GIA8G R8c?% '$5$'.% 3>% 7#2&#% )1$% 43.2025$'<% &311$( 720#% 4)42'')1<% +$1/)'% $+$/)A% d2.03'38<
AH'O;EEA;G'N7?NBIKAI>C ')0$+%720#%R8X%)*02,-).$/$*0%/$/-1)*$ 3>% 0#$.$% :102&)12)'% '$.23*.% )'.3% /)<% +2.(
F3*$% 2//:*39:31$.&$*&$% 020$1.AHS?!`?!P 4')<%+$81)*:')02*8%$3.2*34#2'.%)0%0#$%+$1(
0$*.25$% NW28A% JS(JOA% ]$.3':023*% :.:)''< W:10#$1/31$?%$'$5)0$+%'$5$'.%3>%R8c%&311$( /)'($42+$1/)'%B:*&023*?%720#%$)1'<%.$4)(
3&&:1.% >13/% 0#$% &$*0$1% )*+% /)<% -$% )&( ')0$% 720#% 0#$% 41$.$*&$% 3>% 41:120:.AHS% W2( 1)023*% 3>% 2*+252+:)'% -).)'% &$''.% >13/% 0#$
&3/4)*2$+%-<%#<4$1428/$*0)023*A *)''<?% )4413@2/)0$'<% 3*$(#)'>% 3>% 4)02$*0. -).$/$*0%/$/-1)*$%)*+g31%$3.2*34#2'2&
L:&3:.% /$/-1)*$% '$.23*.% 3&&:1% 2* #)5$%4$124#$1)'%-'33+%$3.2*34#2'2)?%.3/$( .43*823.2.%N.$$%W28A%JS(VDOA!J
)4413@2/)0$'<%HI%4$1&$*0%03%PJ%4$1&$*0 02/$.%/)16$+?%-:0%*30%&311$')0$+%720#%.$(
3>% 4)02$*0.% )*+% )1$% )'/3.0% )'7)<.% '2/( 1:/%R8c%'$5$'.AHS?!S
20$+%03%0#$%31)'%/:&3:.%/$/-1)*$.?%$.( +##$/"+4&!'!"#&+#&#
4$&2)''<% 0#$% -:&&)'% /:&3.)AS?H`% R*0)&0 "#$1$% #)5$% -$$*% /)*<% &).$% 1$4310.% 3>
-'2.0$1.% 31?% /31$% :.:)''<?% $13.23*.% )1$ 0"#4$)+40$,$L\ -:''3:.% 4$/4#2832+% )..3&2)0$+% 720#
.$$*A%"#$.$%+3%*30%.&)1%)*+%:.:)''<%)1$ D234.<% 3>% )*% $)1'<% ./)''% -'2.0$1% 2.% /3.0 /)'28*)*&<A% d37$5$1?% -:''3:.% 4$/4#2(
*30% $@0$*.25$A% C*'26$% $1<0#$/)% /:'02( +2)8*3.02&A% d2.03'38<% 3>% .:&#% )% -234.< 832+% 3&&:1.% 2*% $'+$1'<% 4)02$*0.?% ).% +3$.
>31/$?%0#$%5$1/2''23*%-31+$1%3>%0#$%'24. .#37.% )% .:-($42+$1/)'% -'2.0$1% 720#3:0 /)'28*)*&<?%)*+%&).$(&3*013'%.0:+2$.% .:8(
2.%2*53'5$+%1)1$'<A $42+$1/)'%*$&13.2.%)*+%720#%)%.:4$1E&2)' 8$.0% 0#)0% 0#$1$% 2.% *3% 2*&1$).$?% 31% )% 5$1<
R*% )++2023*% 03% 0#$% &#)1)&0$12.02&% &'2*2( +$1/)'% 2*E'01)0$% &3*.2.02*8% &#)1)&0$12.02( ./)''% 2*&1$).$?% 2*% 0#$% 2*&2+$*&$% 3>% /)'28(
&)'% E*+2*8.?% 0#$1$% #)5$% -$$*% +$.&124( &)''<% 3>% '</4#3&<0$.?% #2.023&<0$.?% )*+ *)*&<% 2*% 4)02$*0.% &3/4)1$+% 720#% )8$(
023*.% 3>% -:''3:.% 4$/4#2832+% 720#% :*( $3.2*34#2'.% NW28A% JS(VKOAS% "#$% +$81$$% 3> /)0&#$+% &3*013'.A!V,!!% d37$5$1?% 0#$1$
:.:)'% 41$.$*0)023*.AV^% R*% )''% 0#$.$% &).$.? 0#$% 2*E'01)0$% 1)*8$.% >13/% 2*0$*.$% 03 /)<% -$% )*% 2*&1$).$+% 2*&2+$*&$% 3>% /)'28(
!"4 0#$%+2)8*3.2.%#).%-$$*%&3*E1/$+%-<%2/( .4)1.$?% -:0% 20% &#)1)&0$12.02&)''<% &3*0)2*. *)*&<% 2*% -:''3:.% 4$/4#2832+% 4)02$*0.
#*+&'.)(
!-@@"*".,-&'(!-&+.%#-#(%@(
A>''%>#(5"$DO-+%-I
#;O.7NI>7:?9E'OEIGD7:I8K'>IG79G7G'ZIDB'
9;DA98DIOA>I7G
n')7?NBIKAI>'K7GD9DIA8IG
n'/I<9D:I<I9E'N7?NBIKAI>
n'&NI>7:?AEFGIG'O;EEAG9'9<W;IGID9
n',I879:'I??;8AKEAO;EI8'+'>IG79G7'98>'
<B:A8I<'O;EEA;G'>IG79G7'AH'<BIE>BAA>
n'!7:?9DIDIG'B7:N7DIHA:?IG
n'3;EEA;G'E;N;G'7:FDB7?9DAG;G
< n'17:F':9:7'>IG79G7G'ZIDB'8AD'H;EEF'<B9:9<D7:.
IJ7>'O9G7?78D'?7?O:987'98DIK78G'X9M'OY'
#;O.7NI>7:?9E'OEIGD7:I8K'>IG79G7G'ZIDBA;D'
9;DA98DIOA>I7G
n'&:FDB7?9'?;EDIHA:?7
56789#,:!.G 0IGDAN9DBAEAKF' AH' O;EEA;G' N7?. n'4AQI<'7NI>7:?9E'87<:AEFGIG
NBIKAI>C' <B' #;O.7NI>7:?9E' OEIGD7:' ZIDB' 98' I8d9?. n')A:NBF:I9
n'&NI>7:?AEFGIG'O;EEAG9
?9DA:F'<7EE'I8TED:9D7M'<A8D9I8I8K'7AGI8ANBIEGM'I8'DB7
"8D:97NI>7:?9E'OEIGD7:I8K'>IG79G7G'ZIDB'
G;N7:T<I9E'>7:?IGC'=B'!7K:98;E9DI8K'7AGI8ANBIEG'9D
9;DA98DIOA>I7G
DB7' 7NI>7:?9E' O9G7?78D' ?7?O:987' 98>' 7AGI8A.
n')7?NBIK;G
NBIEI<'GNA8KIAGIGC = "8D:97NI>7:?9E'OEIGD7:I8K'>IG79G7G'ZIDBA;D'
9;DA98DIOA>I7G
720#% *$8)025$% 2*+21$&0% 2//:*39:31$.( .:&#%).%'2*$)1%R8K%+2.$).$?%
*2&%-:''3:. n'+EE7:KI<'<A8D9<D'>7:?9DIDIG'X7CKCM':B;G'
&$*&$%).%&3/4)1$+%720#%0#3.$%720#%43.( +2.$).$% 3>% '+#33+?% +$1/)0202.% #$14$02( >7:?9DIDIGY
2025$% 2*+21$&0% 2//:*39:31$.&$*&$AH`?!^ >31/2.?% $1<0#$/)% /:'02>31/$?% )*+% 4$/( n'3;EEA;G'I?N7DIKAM'GD9NBFEA<A<<9E'
b#$0#$1%0#2.%2*&1$).$%/$)*.%0#)0%2*%2*( 4#28:.?%-<%#2.03'38<%)*+%2//:*39:31$.( G<9E>7>.G=I8'GF8>:A?7
+21$&0% 2//:*39:31$.&$*&$,*$8)025$% 4)( &$*&$% ND3@% JS(HOA% "#$% /3.0% +2>E&:'0 n'(:I<DIA8'OEIGD7:
02$*0.%720#%-:''3:.%4$/4#2832+%0#$1$%2.%)* +2.$).$.% 03% +2>>$1$*02)0$% >13/% -:''3:. n'09IE7F.09IE7F'>IG79G7
35$1)''%2*&1$).$+%2*&2+$*&$%3>%/)'28*)*&< 4$/4#2832+%)1$%cDK%)*+%&2&)012&2)'%4$/( n'"8<A8DI878DI9'NIK?78DI
&3/4)1$+% 720#% )8$(/)0&#$+% &3*013'.% 2. 4#2832+A^U?^!% cDK% :.:)''<% &)*% -$% +2.02*(
*30% 6*37*A% L3.0% ):0#31.% )81$$% 0#)0? 8:2.#$+%-<%&'2*2&)'%&120$12)%2>%20%41$.$*0.%). +>9ND7>'H:A?'eIEEI=78G'!'7D'9ES'+'8AP7E'G;O7NI>7:?9E'
30#$1%0#)*%)%8$*$1)'%4#<.2&)'%$@)/2*)023* )% *3*2*9)//)031<% /$&#)*3-:''3:.% +2.( OEIGD7:I8K'>IG79G7'ZIDB'9;DA98DIOA>I7G'DA'9'^__.=!9'
)*+%833+%1$52$7%3>%.<.0$/.?%)*%$@0$*.25$ $).$% N.$$% T#)4A% J!OA% d37$5$1?% 3&&).23*( 98DIK78'AH'DB7'O9G7?78D'?7?O:987'JA87C'3&>%*"?@&
)"/#.@+( ;@GS6aaaM'6gg]U'98>'&K98'/+'7D'9ES'+8DI.
.&1$$*2*8% 7316:4% >31% )*% ).</403/)02& )''<% 20% /)<% 41$.$*0% ).% )*% 2*9)//)031< N^__'N7?NBIKAI>S'>I9K8AGIG'98>'D:79D?78D'AH'9'<9G7'
/)'28*)*&<% 2.% *30% 2*+2&)0$+% >31% )% -:''3:. +2.$).$%0#)0%/)<%-$%.2/2')1%&'2*2&)''<%)*+ N:7G78DI8K'9G'98'I8d9??9DA:F'G;O7NI>7:?9E'OEIGD7:.
4$/4#2832+%4)02$*0A #2.03'382&)''<% 03% -:''3:.% 4$/4#2832+A^U I8K'>IG79G7C'3&:#&:4.2&)"/#.@+(&!GSbc]M'^__^C'
"#$% &3$@2.0$*&$% 3>% -:''3:.% 4$/4#2( D<%13:02*$%+21$&0%)*+%2*+21$&0%2//:*39:(
832+%)*+%'2&#$*%4')*:.%N.$$%T#)4A%`VO?%1$( 31$.&$*&$?%0#$.$%+2.$).$.%)'.3%/)<%.#37 3>% &3*B:*&025)A% R>% 0#$1$% 2.% -'2.0$12*8% 3>
>$11$+%03%).%%3#*&,'1%",$.'1&!1*30/3(&.?%#). 2*+2.02*8:2.#)-'$%E*+2*8.A%d37$5$1?%cDK 0#$%.62*?%20%/)<%-$%01)*.2$*0%31%/)<%1$(
-$$*% 7$''% +3&:/$*0$+A^I% "#$.$% &).$. /)<%-$%+2.02*8:2.#$+%>13/%-:''3:.%4$/( .:'0% 2*% .&)112*8A% e)18$?% 0$*.$% -'2.0$1.?
.#37%0<42&)'%&'2*2&)'?%#2.03'382&?%)*+%2/( 4#2832+%-<%2*+21$&0%31%+21$&0%2//:*39:3( 7#2&#%)1$%&#)1)&0$12.02&%3>%-:''3:.%4$/(
/:*34)0#3'382&% >$)0:1$.% 3>% -30#% +2.( 1$.&$*&$% 3*% .62*% 2*&:-)0$+% 2*% H% P% .3( 4#2832+?% )1$% :.:)''<% *30% .$$*% 2*% &2&)012(
$).$.A%R0%2.%43.0:')0$+%0#)0%)*02,-).$/$*0 +2:/% &#'312+$% 03% &):.$% )% .4'20% 2*% 0#$ &2)'%4$/4#2832+A
/$/-1)*$%F3*$%)*02-3+2$.%+$5$'34%).%) ')/2*)%':&2+)?%).%+2.&:..$+%2*%R//:*34)(
&3*.$=:$*&$% 3>% 0#$% +)/)8$% 2*+:&$+% -< 0#3'38<%N.$$%W28A%JS(`OA^^%R//:*3$'$&013*
0#$% "(&$''% '</4#3&<02&% 2*E'01)0$% )0% 0#$ /2&13.&34<% )'.3% +2.02*8:2.#$.% 0#$.$% +2.( )%$L-$#"#'+-!'
-).$/$*0% /$/-1)*$% 2*% '2&#$*% 4')*:.A $).$.% -$&):.$% 0#$% R8X% 2*% cDK% 2.% -$'37 /,"-"/+,'/$2%#&
_3/$% ):0#31.% #)5$% 1$4310$+% )*% )..3&2)( 0#$% ')/2*)% +$*.)% 3*% 0#$% )*ĸ*8 D:''3:.%4$/4#2832+?%$5$*%720#3:0%0#$1(
023*%3>%-:''3:.%4$/4#2832+%720#%5)123:. E-12'.?HII% 7#$1$).% 0#$% R8X% 2*% -:''3:. )4<?%/)<%-$%)%.$'>('2/20$+%+2.$).$?%-:0%20
30#$1% ):032//:*$% +2.$).$.?% 2*&':+2*8 4$/4#2832+%2.%&'3.$'<%)..3&2)0$+%720#%0#$ /)<% ').0% >13/% .$5$1)'% /3*0#.% 03% /)*<
4$/4#28:.A^H,^S "#$.$%)..3&2)023*.%3&&:1 -).)'%&$''%#$/2+$./3.3/$.A%W2*)''<?%):03( <$)1.A%e$5$1S%1$4310$+%0#)0%!%3>%PI%)+:'0.
3*'<%1)1$'<A%W2*)''<?%0#$1$%/)<%-$%)%.'28#0 )*02-3+2$.% >13/% cDK% 4)02$*0.% -2*+% 0<4$ 720#%-:''3:.%4$/4#2832+?%-$>31$%0#$%)+(
2*&1$).$+% 2*&2+$*&$% 3>% 4.312).2.% 2*% -:'( aRR%&3'')8$*AHIH 5$*0% 3>% 8':&3&3102&32+% 0#$1)4<?% 7$*0
'3:.% 4$/4#2832+% 4)02$*0.% ).% &3/4)1$+ K.% 3443.$+% 03% -:''3:.% 4$/4#2832+? 2*03% 1$/2..23*% )>0$1% )4413@2/)0$'<% HJ
720#%)8$(/)0&#$+%&3*013'.A^J?^V &2&)012&2)'%4$/4#2832+%:.:)''<%/)*2>$.0. /3*0#.%N1)*8$?%P%03%P!%/3*0#.O%3>%)&025$
&'2*2&)'% )&02520<% 41$+3/2*)*0'<?% 2>% *30 +2.$).$A%"#$%H(<$)1%/310)'20<%3>%4)02$*0.
$@&':.25$'<?%3*%/:&3:.%/$/-1)*$.%N.$$ 720#% -:''3:.% 4$/4#2832+% #).% -$$*% 1$(
!"((&%&-4"+,'!"+L-$#"# T#)4A% JJOA% T2&)012&2)'% 4$/4#2832+% 2. 4310$+%03%-$%-$07$$*%H^%4$1&$*0%)*+%SI
D:''3:.%4$/4#2832+%&)*%-$%+2>>$1$*02)0$+ &#)1)&0$12F$+% -<% +$.=:)/)025$% 82*8252( 4$1&$*0%2*%c:134$?%-:0%'37$1%N'$..%0#)*%V
$).2'<%>13/%/3.0%30#$1%-'2.0$12*8%+2.$).$.? 02.%).%7$''%).%2*9)//)023*%)*+%.&)112*8 4$1&$*0% 03% H`% 4$1&$*0O% 2*% 0#$% C*20$+
!">
_0)0$.AV?HI`,HIV%G'+%)8$%)*+%4331%8$*$1)' #).% .#37*% 0#)0% 430$*0% 0342&)'% .0$132+. /$0#<'41$+*2.3'3*$% )'.3% #).% -$$*% 1$(
#$)'0#%7$1$%)..3&2)0$+%720#%4331%4138( )1$%$>>$&025$%2*%-30#%/3+$1)0$%)*+%.$5$1$ 4310$+%03%-$%$>>$&025$%2*%1)42+'<%&3*013'(
*3.2.?% ).% /28#0% -$% $@4$&0$+AHIP% "#:.? -:''3:.%4$/4#2832+?%)*+%2*%4)02$*0.%720# '2*8% )&025$% -'2.0$1% >31/)023*% 2*% -:''3:.
-:''3:.%4$/4#2832+%2.%)%430$*02)''<%>)0)' $@0$*.25$%+2.$).$?%-:0%*30%/3+$1)0$%+2.( 4$/4#2832+AH`H
+2.$).$% /3.0'<% 2*% 0#$% $'+$1'<?% 7#3.$ $).$?% 0342&)'% 0#$1)4<% 720#% SI% 8g+)<% 3> _:'>3*$.%/)<%-$%$>>$&025$%2*%)%/2*31(
#$)'0#%)'1$)+<%/)<%-$%>1)82'$A &'3-$0).3'% 413423*)0$% &1$)/% IAIJ% 4$1( 20<% 3>% 4)02$*0.A% M)4.3*$% )*+% .:'>)4<12(
K4413@2/)0$'<%3*$(#)'>%3>%01$)0$+%4)( &$*0?%)44'2$+%072&$%)%+)<?%7).%.)>$1%)*+ +2*$% #)5$% -$$*% 1$4310$+% 03% &3*013'% +2.(
02$*0.%83%2*03%1$/2..23*%720#2*%)4413@2( /31$%$>>$&025$%0#)*%31)'%41$+*2.3*$%.0)10( $).$%)&02520<%2*%HJ%4$1&$*0%03%SS%4$1&$*0
/)0$'<%`AJ%03%VAI%<$)1.;%#37$5$1?%2*%2*( 2*8% )0% H% /8g68g+)<% 3*&$% )% +)<AHHP% "#2. 3>%-:''3:.%4$/4#2832+%4)02$*0.AHIU?H``,H`S
+252+:)'% 4)02$*0.?% +2.$).$% /)<%&3*02*:$ 0342&)'% 0#$1)4<% +2+% 1$.:'0% 2*% .28*2E&)*0 ]$4310.% #)5$% +$.&12-$+% .:&&$..>:'
>31%HI%<$)1.%31%/31$AH`?HS%T'2*2&)'%1$/2.( .<.0$/2&% )-.314023*% )*+% /)<% -$% $>>$&( 01$)0/$*0% 3>% .3/$% -:''3:.% 4$/4#2832+
.23*% 720#% 1$5$1.23*% 3>% +21$&0% )*+% 2*+2( 025$% 0#13:8#% )% &3/-2*)023*% 3>% '3&)'% )*+ 4)02$*0.% 720#% 0$01)&<&'2*$% )*+% *2&302*)(
1$&0% 2//:*39:31$.&$*&$% 03% *$8)025$ .<.0$/2&% $>>$&0.AHHS% _:&#% 0#$1)4<% /)< /2+$%31%5)12)023*.%3*%0#2.%0#$/$?%.:&#%).
#).% -$$*% *30$+% 2*% 4)02$*0.?% $5$*% 0#3.$ *30%-$%41)&02&)'%2*%0#$%C*20$+%_0)0$.A $1<0#13/<&2*%)*+%*2&302*)/2+$%31%0$01)(
720#%.$5$1$%8$*$1)'2F$+%+2.$).$?%01$)0$+ R*% $'+$1'<% 4)02$*0.?% 0#$% &3/4'2&)023*. &<&'2*$%)'3*$AH`J,H`U%R*%./)''%*:/-$1.%3>
720#% 31)'% &3102&3.0$132+.% )'3*$% 31% 720# 3>%.<.0$/2&%8':&3&3102&32+%0#$1)4<%N.:&# 4)02$*0.?% 30#$1% 0#$1)42$.% 1$4310$+% 03% -$
)F)0#23412*$AHP?HS ).% 3.0$34313.2.?% +2)-$0$.?% )*+% 2//:*3( $>>$&025$% 2*&':+$% /<&34#$*3')0$%/3>$02'
.:441$..23*O%/)<%-$%$.4$&2)''<%.$5$1$AHHJ N7#2&#%/)<%41352+$%)%'$..%03@2&%)'0$1*)(
"#$1$>31$?%20%2.%2/4310)*0%03%01<%03%/2*2( 025$% >31% )F)0#23412*$O?HIU?H`!?H`^% 4')./)(
4%&+4*&-4 /2F$%0#$%030)'%+3.$%)*+%+:1)023*%3>%0#$1( 4#$1$.2.?HPI%2*01)5$*3:.% %8'3-:'2*?HPH,HPP
e3&)'2F$+%-:''3:.%4$/4#2832+%3>0$*%&)* )4<% 720#% 31)'% 8':&3&3102&32+.A% _0)102*8 /$0#301$@)0$?HPS% '$9:*3/2+$?HPJ% )*+
-$%01$)0$+%.:&&$..>:''<%720#%0342&)'%&31( +3.$.% 3>% 41$+*2.3*$% 3>% IAUJ% /8g68g+)< &#'31)/-:&2'AHPV
02&3.0$132+.% )'3*$% ND3@% JS(`OAHP?HS?HIU 31%$5$*%'$..%/)<%-$%)+$=:)0$%>31%+2.$).$
"342&)'% 0)&13'2/:.% #).% )'.3% -$$*% 1$( &3*013'AHHV% R*% )++2023*?% 2//:*3.:441$.(
V&\'%&(&%&-/&#
4310$+%03%-$%:.$>:'%2*%)%>$7%&).$.%3>%'3( .25$%)8$*0.%.:&#%).%)F)0#23412*$%N)*+%'$..
&)'2F$+%4$/4#2832+AHIU,HHH 3>0$*% /$0#301$@)0$% 31% &<&'34#3.4#)( 4B7'H;EE':7H7:78<7'EIGD'HA:'9EE'<B9ND7:G'
L31$%$@0$*.25$%+2.$).$?%7#2&#%/)<%-$ /2+$O% 3>0$*% )1$% :.$+% >31% 0#$21% 430$*02)' IG'9P9IE9OE7'9D'ZZZC>IK?bC<A?C
/31$%+2>E&:'0%03%&3*013'%0#)*%'$..%$@0$*( .0$132+(.4)12*8% $>>$&0.?HIU?HH`?HHU,HH^% )'(
.25$%+2.$).$?HP%2.%:.:)''<%01$)0$+%720#%31)' 0#3:8#% 5$1<% >$7% &3*013''$+% 012)'.% #)5$ ^A e$5$1%bW[%\$/4#28:.%)*+%4$/4#2832+A
O'8!'8#"('6&+!"-/% ![`?%H^U^
41$+*2.3*$AHIU?HH`% d37$5$1?% )% 1)*+3/( )++1$..$+% 0#2.% &3//3*% )4413)&#% 03 HJA D$:0*$1% cd% $0% )'[% "#$% 2//:*34)0#3'(
2F$+% &3*013''$+% &'2*2&)'% 012)'% >13/% W1)*&$ 0#$1)4<AHH`?HHV%G*$%3>%0#$%>$7%&3*013''$+ 38<%3>%4$/4#28:.%)*+%-:''3:.%4$/4#2(
012)'.%>31%0#$1)4<% 3>%-:''3:.% 4$/4#2832+ 832+A O'F,L&.-'6&+!"-/% "![VP?%H^V!
>3:*+%0#)0%2>%.<.0$/2&%&3102&3.0$132+.%)1$ PHA _0)*'$<% l]% $0% )'[% R.3')023*% 3>% &MQK% >31
#*+&'.), -:''3:.% 4$/4#2832+% )*028$*% -<% :.$% 3>
825$*% )0% 1)0#$1% #28#% +3.)8$% >31% S% 7$$6.
)*"&,$".,#(@%*(A>''%>#(5"$DO-+%-I 4)02$*0.k% ):03)*02-3+2$.A% O' ;%3,' F,L&.-
720#3:0% 0)4$1?% 0#$% )++2023*% 3>% )F)0#23( %$[H!VS?%H^!!
/A:DI<AGD7:AI>G 412*$%+3$.%*30%)++%)441$&2)-'$%-$*$E0AH`I SIA X2:+2&$% Xl% $0% )'[% T'3*2*8% )*+% 412/)1<
n'0IKB'NAD78<F'DANI<9E "#$1$>31$?% 0#$% -$*$E&2)'% $>>$&0.% 3>% )F)( .01:&0:1)'% )*)'<.2.% 3>% 0#$% -:''3:.% 4$/(
0#23412*$% /)<% 1$.2+$% 2*% 20.% .0$132+(.4)1( 4#2832+%):03)*028$*%D\H!IA%O'F,L&.-'6&+)
n'):7>8IGA87 !"-/% (([`SP?%H^^`
$DB7:'I??;8AG;NN:7GGIP7'9K78DG 2*8% $>>$&0.AHHU% R*% $'+$1'<% 4)02$*0.?% 0#$.$ VPA e2:% uA% D:''3:.% 4$/4#2832+[% C.2*8% )*2(
n'+J9DBIAN:I87 2//:*3.:441$..25$.% /)<% -$% :.$+% +:1( /)'% /3+$'.% 03% .0:+<% 0#$% 2//:*34)(
n'*F<ANB78AE9D7'?AH7DIE 2*8%2*202)'%0#$1)4<%)*+%$5$*%/)<%-$%:.$+ 0#3'38<A% O' F,L&.-30' 6&+!"-/%' KT!1' 4+/#
720#3:0% )&&3/4)*<2*8% 41$+*2.3*$% 2* ([SH?%`IIS
*A>;E9DA:G'AH'98DIOA>F'E7P7EG HIPA l3'<% \% $0% )'[% \1$+2&023*% 3>% .:1525)'% >31
n'"8D:9P78A;G'K9??9KEAO;EI8 '2/20$+%+2.$).$A%d37$5$1?%03%-12*8%72+$(
4)02$*0.%720#%-:''3:.%4$/4#2832+[%)%413(
n')E9G?9NB7:7GIG .41$)+% +2.$).$% :*+$1% 1)42+% &3*013'?% .<.( .4$&025$% .0:+<A% 8+#*' 6&+!"-/% !'![V^H?
$DB7: 0$/2&%31%2*0$*.25$%0342&)'%&3102&3.0$132+. `IIJ
)1$%3>0$*%*$&$..)1<%-$&):.$%0#$21%$>>$&0%2. HIUA W2*$% lM[% L)*)8$/$*0% 3>% )&=:21$+% -:'(
n'47D:9<F<EI87'A:'7:FDB:A?F<I8'98>' '3:.% .62*% +2.$).$.% N.$$% &3//$*0.OA% H
8I<ADI89?I>7 :.:)''<%1)42+%N720#2*%+)<.O?%7#$1$).%2/(
M,0%'O'P&( &&&[HSUJ?%H^^J
n'!9NGA87 /:*3.:441$..25$.%/)<%0)6$%)0%'$).0%S%03 HH`A b3B*)137.6)%W%$0%)'[%X:2+$'2*$.%>31%0#$
n'4ANI<9E'D9<:AEI?;G V%7$$6.%03%.#37%)%.)':0)1<%$>>$&0A%d28#( /)*)8$/$*0%3>%-:''3:.%4$/4#2832+A%@+
+3.$% Y4:'.$Z% 0#$1)4<% 720#% 2*01)5$*3:. O'6&+!"-/% !')[`HS?%`II`
!4@
4$/4#2832+% 4#$*30<4$%2.% -:''3:.%4$/(
/0+)4&%'55 /"/+4%"/"+, 4#2832+%)*028$*%`AH?PI,P`
!IG79G7'+GGA<I9DIA8G
56789#,:G.G /B:A8I<' O;EEA;G' >IG79G7' AH "#$% .2/2')1% &'2*2&)'% 41$.$*0)023*% 3>
<BIE>BAA>C'478G7'OEIGD7:G'A8'7:FDB7?9DA;G'O9G7G /)*<%4)02$*0.%720#%'2*$)1%R8K%+2.$).$%03
56789#,:G.! )9DI78D' ZIDB' EI879:' I??;8A. I8'DB7'N;OI<'98>'I8K;I89E'9:79GC 0#)0%.$$*%2*%4)02$*0.%720#%Md%'$+%03%0#$
KEAO;EI8'+'>7:?9DAGIG'ZIDB'K:A;N7>';:DI<9:I9E'N9N. 2*5$.028)023*%3>%4)02$*0.%720#%'2*$)1%R8K
02$*0.% >31% .<.0$/2&% 2*>$&023*.?% 2*&':+2*8 +2.$).$% >31% )*% )..3&2)0$+% 8':0$*(.$*.2(
;E7G'A8'DB7'O9<='ZIDB'G<9DD7:7>'<:;GD7>'7:AGIA8GC 521)'% 2*>$&023*.A% ]3:02*$% +21$&0% 2//:*3( 025$%$*0$134)0#<A%K'0#3:8#%.3/$%2*5$.(
9:31$.&$*&$?% #37$5$1?% #).% 1$5$)'$+% '2*( 028)031.%#)5$%>3:*+%$52+$*&$%3>%/2*2/)'
9)//)031<% -).$AV% "#$.$% '$.23*.% 3&&:1 $)1% +$43.20.% 3>% R8K?% )*+% 0#$.$% 4)02$*0. 2*9)//)031<% &#)*8$.% 2*% 0#$% ./)''
/3.0% >1$=:$*0'<% 2*% 0#$% 4$12*$:/% )*+ #)5$%1$.43*+$+%03%&3*5$*023*)'%0#$1)4<A -37$'% 3>% 4)02$*0.% 720#% '2*$)1% R8K% +2.(
4$1231)'% 1$823*% )*+% 3>0$*% /)<% 3&&:1% 2* $).$?%*:/$13:.%2*5$.028)031.%#)5$%-$$*
&':.0$1.?% 8252*8%)% Y&':.0$1% 3>% B$7$'.Z% )4( :*)-'$%03%.#37%0#)0%0#$%/)B3120<%3>%4)(
4$)1)*&$% NW28.A% JV(J? JV(V?% )*+% JV(UOA
*;<AG9E'"8PAEP7?78D 02$*0.% 720#% '2*$)1% R8K% +2.$).$% #)5$% .28(
Q$7% '$.23*.% .3/$02/$.% )44$)1% )13:*+ L:&3.)'% 2*53'5$/$*0% 2.% )*% 2/4310)*0 *2E&)*0% $52+$*&$% 3>% 0#$% 52''3:.% )0134#<
0#$%4$124#$1<%3>%41$523:.%'$.23*.?%720#%) &'2*2&)'% /)*2>$.0)023*% .$$*% 2*% 4)02$*0. &#)1)&0$12.02&)''<% .$$*% 2*% 4)02$*0.% 720#
1$.:'02*8%Y&3'')1$00$Z%3>%-'2.0$1.A%\)02$*0. 720#% '2*$)1% R8K% +$1/)03.2.% )*+% TDMTA MdAH?SJ R*%)++2023*?%0#$%&'2*2&)'%/)*2>$.(
3>0$*%1$4310%.28*2E&)*0%41:120:.%)*+g31%) "#2.%2*53'5$/$*0%&)*%1)*8$%>13/%')18$'< 0)023*.% 3>% '2*$)1% R8K% +2.$).$% #)5$% *30
-:1*2*8% 3>% 0#$% .62*% 720#% 0#$% +$5$'34( ).</403/)02&% 31)'% :'&$1)023*.% )*+% $13( -$$*% &3*013''$+% -<% 0#$% :.$% 3>% )% 8':0$*(
/$*0% 3>% .62*% '$.23*.A% \)02$*0.% 720# .23*.%03%.$5$1$%31)'%+2.$).$%)'3*$%).%7$'' >1$$% +2$0ASV% T21&:')02*8% ):03)*02-3+2$.
TDMT%3>0$*%41$.$*0%720#%0#$%)&:0$%+$( ).%03%.$5$1$%&3*B:*&025)'%)*+%31)'%+2.$).$ )8)2*.0% 02..:$% 01)*.8':0)/2*).$?% 7#2&#
5$'34/$*0% 3>% ')18$% *:/-$1.% 3>% 0$*.$ 0<42&)'%3>%0#)0%.$$*%2*%&2&)012&2)'%4$/4#2( 3&&:1%2*%#28#%>1$=:$*&<%2*%4)02$*0.%720#
-'2.0$1.?%7#2&#%/)<%1:40:1$%)*+%-$&3/$ 832+AHI?SH?S`%G1)'%'$.23*.%/)<%3&&:1%2*%:4 :*01$)0$+% 8':0$*(.$*.2025$% $*0$134)0#<
.$&3*+)12'<%2*>$&0$+A 03%UI%4$1&$*0%3>%4)02$*0.%720#%'2*$)1%R8K )*+% Md?% #)5$% *30% -$$*% >3:*+% 2*% /3.0
])1$'<?% 4)02$*0.% 720#% '2*$)1% R8K% +$1( +2.$).$AHI% K'0#3:8#% /3.0% 4)02$*0.% 720# 4)02$*0.%720#%'2*$)1%R8K%+2.$).$.ASU
/)03.2.%/)<%41$.$*0%720#%)*%)&:0$%>$-( '2*$)1% R8K% +$1/)03.2.% )*+% /:&3.)'% 2*( G0#$1% &3*+2023*.% #)5$% -$$*% 1$4310$+
12'$%2''*$..%720#%)10#1202.?%)10#1)'82).?%)*+ 53'5$/$*0% #)5$% .28*2E&)*0% &:0)*$3:. 2*% )..3&2)023*% 720#% '2*$)1% R8K% +2.$).$A
8$*$1)'2F$+% /)')2.$AP^?SI% "#$% 41$.$*&$ +2.$).$?%&).$.%#)5$% -$$*%1$4310$+%2*%0#$ G*$% $@)/4'$% 2.% :'&$1)025$% &3'202.% NCTO?
3>%/:'024'$%4)4:'$.%)*+%5$.2&'$.%2*%)%4)( '20$1)0:1$% 2*% 7#2&#% 0#$% 41$.$*02*8% )*+ 7#2&#% &)*% 1$.:'0% 2*% )% &'2*2&)'% .<*+13/$
02$*0%720#%.<.0$/2&%.28*.%)*+%.</403/. 41$+3/2*)*0% &'2*2&)'% /)*2>$.0)023*.% )1$ 7#$1$% 0#$% )&02520<% 3>% -30#% +2.$).$.% 2.
#).% '$+% 03% 0#$% $5)':)023*% 3>% 0#$.$% 4)( '$.23*.% 3>% 0#$% /:&3:.% /$/-1)*$.AS`?SP '2*6$+%N2A$A?%).%3*$%+2.$).$%9)1$.?%.3%+3$.
"#$.$%4)02$*0.%/)<%41$.$*0%720#%+$.=:)( 0#$% 30#$1OA% \)28$% )*+% &3(7316$1.% 1$(
52$7$+% UI% 4)02$*0.% 720#% '2*$)1% R8K% -:'(
'3:.% +$1/)03.2.% )*+% >3:*+% UAH% 4$1&$*0
#)+% )..3&2)0$+% CTA% "#$% $@0$*0% )*+% 1$)(
.3*%>31%0#2.%)..3&2)023*%#).%<$0%03%-$%$.(
0)-'2.#$+A% \$1#)4.?% 0#$% )-*31/)'% /:&3(
.)'%R8KH%413+:&023*%.$$*%2*%4)02$*0.%720#
CT% /)<% 4')<% )% 13'$ASV?S!?S^% D)'+)12% $0% )'A
1$4310$+%)%&).$%3>%TDMT%3&&:112*8%)>0$1
)&:0$% /3*3*:&'$3.2.AJI% "#$.$% ):0#31.
.:88$.0%0#)0%0#2.%521:.%/)<%#)5$%)%13'$%2*
2*202)023*%3>%0#$%+2.$).$%0#13:8#%2//:*$
.02/:')023*A% TDMT% )'.3% #).% -$$*% 1$(
4310$+%2*%)..3&2)023*%720#%
*2&%81)*:(
'3/)03:.%+2.$).$%2*%0#$%.$002*8%3>%4"%/)
!T#&.% ':*8% 2*>$&023*AJH% "#$% 1$')023*.#24
56789#,:G.: )9DI78D' ZIDB' <B:A8I<' O;EEA;G -$07$$*%0#$.$%&3*+2023*.%)*+%TDMT%#).
>IG79G7' AH' <BIE>BAA>C' 478G7' O;EE97' 98>' <:;GD7> 56789#,:G." &QD78GIP7' <B:A8I<' O;EEA;G' >IG. <$0%03%-$%$.0)-'2.#$+A
N9N;E7G' 9:7' N:7G78D' A8' DB7' 9O>A?78M' ZIDB' 9 79G7'AH'<BIE>BAA>C'-AD7'D78G7'98>'d9<<I>'OEIGD7:G "#$% 1$')025$'<% )&:0$% 3*.$0% 3>% &'2*2&)'?
<E;GD7:I8K'AH'O;EE97'8AD7>'I8'DB7'N7:I879E':7KIA8C ZIDBA;D'8AD9OE7'I8d9??9DIA8C #2.03'382&?% )*+% 2//:*34)0#3'382&% E*+(
!44
2*8.%&3*.2.0$*0%720#%'2*$)1%R8K%+2.$).$%#). 01)0$% 2.% &3/43.$+% 3>% $3.2*34#2'.?% -:0 #*+&'/)(
-$$*%.$$*%2*%4)02$*0.%7#3%#)5$%-$$*%0)6( /3.0%>1$=:$*0'<%*$:0134#2'.%)1$%0#$%/)B31
F-."&*(9$$>.%+'%B>'-.(7(A>''%>#(
2*8%)%5)12$0<%3>%+1:8.?%2*&':+2*8%5)*&3/<( &3/43*$*0%3>%0#$%.:-($42+$1/)'% 2*9)/(
!"*$&,%#-#(!-@@"*".,-&'(!-&+.%#-#
&2*?%'20#2:/%4#$*<032*?%.:'>)/$0#3@)F3'$g /)023*AHI?J^?VI% c'$&013*% /2&13.&342&% $@(
012/$0#13412*?% >:13.$/2+$?% )0315).0)02*? )/2*)023*%3>%0#$%-'2.0$1.%>3:*+%2*%4)02$*0. !7:?9DIDIG'B7:N7DIHA:?IG
&)403412'?% )*+% +2&'3>$*)&APV?P!?J`?JP% a)*&3( 720#% -30#% '2*$)1% R8K% +$1/)03.2.% )*+ 3;EEA;G'N7?NBIKAI>
/<&2*% 2.% 0#$% /3.0% &3//3*% +1:8% 0#)0% 2. TDMT%#).%1$5$)'$+%0#)0%0#$%-'2.0$1%>31/. &NI>7:?AEFGIG'O;EEAG9'9<W;IGID9
)..3&2)0$+%720#%0#$%+$5$'34/$*0%3>%'2*$)1 $20#$1%720#2*%0#$%')/2*)%':&2+)%31%2*%)%.:( 3;EEA;G'7:;NDIA8'AH'GFGD7?I<'E;N;G'
R8K% -:''3:.% +$1/)03.2.A% "#$% /$&#)*2./ -')/2*)% +$*.)% '3&)023*A`I?`P% L3.0% 3>0$* 7:FDB7?9DAG;G
3>%0#2.%2*0$1)&023*%2.%*30%6*37*;%#37$5$1? 0#$%#2.034)0#3'38<%.$$*%2*%'2*$)1%R8K%+2.( /I<9D:I<I9E'N7?NBIKAI>
)% ./)''% *:/-$1% 3>% 4)02$*0.% 720#% 5)*&3( $).$% 2.% +2>E&:'0% 03% +2.02*8:2.#% >13/% 0#)0 ,I<B78'NE98;G
/<&2*(2*+:&$+% '2*$)1% R8K% +2.$).$% #)5$ .$$*% 2*% 4)02$*0.% 720#% MdA% _/20#% $0% )'AVI 4AQI<'7NI>7:?9E'87<:AEFGIG
-$$*%1$4310$+%03%#)5$%&21&:')02*8%R8K%)*02( 1$4310$+%0#)0%4)02$*0.%720#%'2*$)1%R8K%+2.(
-3+2$.%+21$&0$+%)8)2*.0%0#$%D\H!I?%D\`PI? $).$% 0$*+$+% 03% #)5$% >$7$1% 4)42'')1<% /2(
)*+% eKM% `!J% )*028$*.AJS?JJ% R*% 3*$% &).$ &13)-.&$..$.%)*+%)%/31$%+2>>:.$%2*E'01)0$
02$*0.% #)5$% +2.$).$% 0#)0% &3*02*:$.% >31
3>% 5)*&3/<&2*(2*+:&$+% '2*$)1% R8K% -:'( 3>% *$:0134#2'.% )0% 0#$% -).$/$*0% /$/(
<$)1.?% 720#% >$7?% 2>% )*<?% $42.3+$.% 3>% 1$(
'3:.% +$1/)03.2.?% 1$&#)''$*8$% 720#% 5)*&3( -1)*$%F3*$A%d37$5$1?%D'$*62*.344%$0%)'A
/2..23*A%G&&).23*)''<?%4)02$*0.%/)<%#)5$
/<&2*%2*%)%81)+:)'%/)**$1%+2+%*30%1$.:'0 >3:*+% *3% .28*2E&)*0% +2>>$1$*&$% -$07$$*
)% .43*0)*$3:.% 1$/2..23*% 720#% '3..% 3>
2*%)%1$&:11$*&$%3>%0#$%$1:4023*AJV 0#$%#2.034)0#3'38<%>3:*+%2*%4)02$*0.%720#
&'2*2&)'%>$)0:1$.%3>%0#$%+2.$).$%)*+%+2.)4(
e2*$)1%R8K%+2.$).$%)'.3%#).%-$$*%)..3&2( '2*$)1% R8K% +2.$).$% )*+% 0#3.$% 720#% MdAJ^
4$)1)*&$%3>%0#$%'2*$)1%R8K%+$43.20.%2*%0#$
)0$+% 1)1$'<% 720#% )% 5)12$0<% 3>% /)'28*)*( R*% 8$*$1)'?% 0#$% #2.034)0#3'38<% 3>% -'2.0$1.
.62*A% \)02$*0.% 720#% .$5$1$% /:&3.)'% +2.(
&2$.A%\)02$*0.%720#%'2*$)1%R8K%+2.$).$%#)5$ 2*% '2*$)1% R8K% +2.$).$?% TDMT?% )*+% Md% 2.
$).$?% $.4$&2)''<% 3>% 0#$% $<$.?% /)<% #)5$
-$$*% 1$4310$+% 720#% -30#% '</4#32+% )*+ 5210:)''<%2*+2.02*8:2.#)-'$A
4$1.2.0$*0% 413-'$/.% 720#% .</-'$4#)13*
*3*'</4#32+% /)'28*)*&2$.AJU?J!% X3+>1$<
>31/)023*% )*+% 1$.:'02*8% .01:&0:1)'% 413-(
$0% )'A% 1$4310$+% 0#1$$% &).$.% 3>% '</4#32+
!"((&%&-4"+,'!"+L-$#"# '$/.% 720#% 0#$% $<$'2+.% )*+% &31*$)?% $5$*
/)'28*)*&2$.% 2*% UI% 4)02$*0.% 720#% '2*$)1
)>0$1%)&025$%-'2.0$12*8%#).%1$/200$+A
R8K% +2.$).$% >3''37$+% >31% )% /$)*% 3>% !AJ e2*$)1%R8K%+$1/)03.2.%3>0$*%&'3.$'<%/2/(
\)02$*0.%720#%'2*$)1%R8K%+2.$).$%/3.0
<$)1.A% "#2.% 1$41$.$*0$+% )*% 2*&1$).$% 35$1 2&.% 0#$% &'2*2&)'% 4)00$1*% .$$*% 2*% 4)02$*0.
3>0$*% 1$.43*+% +1)/)02&)''<% 03% +)4.3*$
0#$% 41$+2&0$+% *:/-$1% 3>% IA`% &).$.% 2*% )* 720#%MdA%_3/$%4)02$*0.%/)<%#)5$%E*+(
31% .:'>)4<12+2*$A% "#2.% 1$.43*.$% :.:)''<
)8$(% )*+% .$@(/)0&#$+% 434:')023*AJU% Q3 2*8.%0#)0%1$.$/-'$%0#3.$%.$$*%2*%4)02$*0.
3&&:1.%720#2*%`S%03%S!%#3:1.?%2*%)%/)*(
2*&1$).$%2*%0#$%1)0$%3>%*3*'</4#32+%/)( 720#% D\?% &2&)012&2)'% 4$/4#2832+?% cDK?
*$1% .2/2')1% 03% 0#)0% .$$*% 720#% Md;% ).
'28*)*&2$.% 7).% .$$*A% "#$.$% E*+2*8.% .:8( )*+?%1)1$'<?%03@2&%$42+$1/)'%*$&13'<.2.A%R*
.:&#?% 20% 2.% *30% )% #$'4>:'% +2)8*3.02&% .28*
8$.0%)%./)''%12.6%3>%'</4#32+%/)'28*)*&< )% .2/2')1% /)**$1?% 4)02$*0.% 720#% TDMT
>31% '2*$)1% R8K% +2.$).$A`?HI?HH K'0#3:8#
2*%0#$.$%4)02$*0.A%d37$5$1?%')18$1%434:')( /:.0% -$% +2>>$1$*02)0$+% >13/% 0#3.$% 720#
/3.0% 4)02$*0.% )1$% 7$''% &3*013''$+% 720#
023*(-).$+% .0:+2$.% *$$+% 03% -$% +3*$% 03 Md%3>%'+#33+%)*+%'+#33+%D\A%"#$
+)4.3*$% 31% .:'>)4<12+2*$% )'3*$?% .3/$
&3*E1/%0#$.$%E*+2*8.A E*+2*8.% 3>% '2*$)1% R8K% +$43.20.% )0% 0#$
4)02$*0.% 1$=:21$% '37(+3.$% 41$+*2.3*$
-).$/$*0%/$/-1)*$%-<%+21$&0%2//:*3(
0#$1)4<% 03% .:441$..% -'2.0$1% >31/)(
9:31$.&$*&$?% /3.0% 3>0$*% 2*% 0#$% )-.$*&$
0"#4$)+40$,$L\ 023*A^?HI% "#$% /)B3120<% 3>% 4)02$*0.% 720#
3>%R8X%)*+%0#$%0#21+%&3/43*$*0%3>%&3/(
'2*$)1% R8K% +2.$).$% &)**30% &3*013'% 0#$21
]3:02*$%#2.034)0#3'38<%3>%)*%$)1'<%'$.23* 4'$/$*0?% &)*% +2.02*8:2.#% 0#2.% +2.$).$
.62*%+2.$).$%720#%)%8':0$*(>1$$%+2$0AS`
2*%4)02$*0.%720#%'2*$)1%R8K%+$1/)03.2.%)*+ >13/% D\?% &2&)012&2)'% 4$/4#2832+?% )*+
TDMT%2.%/3.0%3>0$*%)%.$'>('2/20$+%+2.(
TDMT%1$5$)'.%)%.:-($42+$1/)'%-:'')%720# cDK?% 7#$1$).% 81)*:')1% R8K% +$43.20.% )1$
$).$?% 720#% /3.0% '+1$*% 832*8% 2*03% 1$(
&3''$&023*.%3>%*$:0134#2'.%)'3*8%0#$%-).$( >3:*+%)0%0#$%-).$/$*0%/$/-1)*$%2*%4)(
/2..23*% 720#2*% `% <$)1.% 3>% 0#$% 3*.$0% 3>
/$*0% /$/-1)*$?% 3>0$*% )&&:/:')02*8% )0 02$*0.%720#%Md%ND3@%JV(HOA
0#$% +2.$).$AV?U?HI % G&&).23*)''<?% 0#$% +2.(
0#$%4)42'')1<%024.%NW28A%JV(!OA%K%/2'+%'</(
$).$%4$1.2.0.%7$''%2*03%4:-$10<%-:0%3>0$*
4#3&<02&%2*E'01)0$%/)<%-$%41$.$*0%)13:*+
4%&+4*&-4'+-!')%$L-$#"# 2.% '$..% .$5$1$% 0#)*% 0#$% 2*202)'% $1:4023*A
0#$%.:4$1E&2)'%+$1/)'%-'33+%5$..$'.%720#(
\)02$*0.%720#%TDMT%1$.43*+%2*% )%.2/2(
3:0%)*<%$52+$*&$%3>%*$:0134#2'2&%5).&:'2( K+:'0.% 720#% '2*$)1% R8K% +$1/)03.2.% #)5$
')1% +1)/)02&% >).#23*% 03% +)4.3*$% 31% .:'(
02.A% G&&).23*)''<?% 0#$% 2*9)//)031<% 2*E'( )*% :*41$+2&0)-'$% &3:1.$A`?HI% L)*<% 4)(
>)4<12+2*$AV?U?HI% L)*<% '+1$*?% #37(
$5$1?% 1$=:21$% 0#$% )++2023*% 3>% 1$')025$'<
./)''% +3.$.% 3>% 41$+*2.3*$% 03% -12*8% 0#$
+2.$).$%:*+$1%&3*013'AV?U%L<&34#$*3')0$
/3>$02'%#).%-$$*%:.$+%).%)%.0$132+(.4)1(
2*8% )8$*0% 2*% 2.3')0$+% &).$.AVH% R*01)5$(
*3:.% 2//:*38'3-:'2*.% #)5$% )'.3% -$$*
41343.$+% 2*% 0#$% 1)1$% 4)02$*0% *30% 1$(
.43*+2*8% 03?% 31% 2*03'$1)*0% 3>?% +)4.3*$
56789#,:G.4 0IGDAN9DBAE.
0#$1)4<AV`?VP%_$5$1)'%&).$%1$4310.%.:88$.0
AKF'AH'E7GIA89E'G=I8'H:A?'9'N9.
0#)0%.3/$%4)02$*0.%720#%TDMT%/)<%1$(
DI78D'ZIDB'EI879:'I??;8AKEAO;. .43*+% 03% )*02-2302&.?% 2*&':+2*8% .:'>3*(
EI8'+'>7:?9DAGIG'GBAZI8K'9'G;O. )/2+$.?% +2&'3@)&2''2*?% )*+% $1<0#13/<(
7NI>7:?9E'OEIGD7:'TEE7>'ZIDB'87;. &2*AVS?% VJ% R*% )% 1$&$*0% &).$% .$12$.?% .$5$*
D:ANBIEGC'X2G7>'ZIDB'N7:?IGGIA8 '+1$*% 720#% '2*$)1%R8K%+2.$).$%01$)0$+
H:A?'VI?'3C'\98<7FM'*!CY 720#% 9:&'3@)&2''2*% +$/3*.01)0$+% 2/( !4>
4135$/$*0?% 720#% >3:1% )$52*8% 1$/2.( R8K%.62*%+$43.20.A%O'F,L&.-'6&+!"-/% )'[^? 8$*% )*+% 2.3')023*% 3>% )*02-3+<% 2*% '2*$)1
.23*%720#2*%P%/3*0#.AVV%d37$5$1?%.43*( H^!I 2//:*38'3-:'2*% K% -:''3:.% +$1/)03.2.A
UA l)-'3*.6)%_%$0%)'[%e2*$)1%R8K%-:''3:.%+$1( O';%3,'F,L&.- %"[!H`?%H^^I
0)*$3:.% 1$/2..23*% 2*% 0#$.$% 4)02$*0. /)03.2.% 3>% '+#33+% N
*2&% -:''3:. `VA u3*$%ll%$0%)'[%"#$%^U%6M)%'2*$)1%R8K%-:'(
&)**30%-$%1:'$+%3:0A% +$1/)03.2.%3>%'+#33+OA%;%3,'6&+!"-/% '3:.%+2.$).$%)*028$*%2.%2+$*02&)'%03%)%431(
([P^P?%H^^` 023*% 3>% 0#$% $@01)&$'':')1% +3/)2*% 3>% 0#$
HIA b3B*)137.6)% W% $0% )'[% T#13*2&% -:''3:. H!I% 6M)% -:''3:.% 4$/4#2832+% )*028$*?
V&\'%&(&%&-/&#' +2.$).$%3>%'+#33+?%'+#33+%&2&)012( D\K8`A%O'F,L&.-'6&+!"-/% !!*[`IU?%H^^!
&2)'% 4$/4#2832+% )*+% '2*$)1% R8K% +2.$).$ P^A e$28#%X?%L)1.+$*%]K?%b3B*)137.6)%W[
4B7'H;EE':7H7:78<7'EIGD'HA:'9EE'<B9ND7:G' 3>%)+:'0.[%K%&3/4)1)025$%.0:+<%+$/3*( e2*$)1% R8K% +$1/)03.2.% 720#% .$5$1$
IG'9P9IE9OE7'9D'ZZZC>IK?bC<A?C .01)02*8% &'2*2&)'% )*+% 2//:*34)0#3'382& )10#1)'82)A @+'O'6&+!"-/% !!([U!^?%H^!!
35$1')4A O' 8!' 8#"(' 6&+!"-/% !([U^`? SVA e$3*)1+%lQ%$0%)'[%c@4$12$*&$%720#%)%8':(
HA e)7'$<%"l%$0%)'[%_/)''%2*0$.02*)'%-234.2$. H^!! 0$*% >1$$% +2$0% 2*% 0#$% 01$)0/$*0% 3>% '2*$)1
)*+%deK%0<4$.%2*%+$1/)0202.%#$14$02>31( `SA u3*$%ll%$0%)'[%R+$*02E&)023*%3>%0#$%&:0)( R8K% +2.$).$A% 8#-"' 6&+!' E&,&+/%' [K-/#2*\
/2.% 4)02$*0.% 720#% 81)*:')1% )*+% '2*$)1 *$3:.% -).$/$*0% /$/-1)*$% F3*$% )*02( #)[HSJ?%H^!U
/0+)4&%'5b *3.31-$*0%)..)<%NceR_KO%>31%0#$%\X%)*02(
-3+<%2.%*37%&3//$1&2)''<%)5)2')-'$?%)*+ )&*)0"L$"!
7#$*% 0#2.% #28#'<% .$*.2025$% 0$.0% 2.% :.$+?
L3.0% +2.$).$% .43*0)*$3:.'<% 1$/20. +)0$+A% W21.0% 3*.$0% +:12*8% -30#% 412/24)(
)%&1&-4"$-
35$1% 7$$6.% 03% /3*0#.% >3''372*8% +$'25( 13:.% )*+% /:'024)13:.% 41$8*)*&2$.% #).
$1<?% )'0#3:8#% 0#$1$% )1$% 2.3')0$+% 1$4310. -$$*% 1$4310$+?% 720#% )*+% 720#3:0% ) G*'<%)%./)''%4$1&$*0)8$%3>%73/$*%7#3
3>% 41301)&0$+% 43.04)10:/% 2*53'5$/$*0A &#)*8$%2*%4)10*$1.A $@41$..% M]P?% M]S?% 31% 0#$% &3/-2*)023*
R0% #).% 3>0$*% -$$*% .)2+% 0#)0% 3*&$% 8$.0)( 3>% M]P% )*+% M]S% $5$1% +$5$'34% \X?% )*+
023*)'%4$/4#2832+% +$5$'34.?%20%0$*+.% 03 0#$%13'$%3>%0#$%4)0$1*)'%02..:$%2*%0#$%+$(
3&&:1% $)1'2$1% )*+% 720#% 81$)0$1% .$5$120< 4%&+4*&-4 5$'34/$*0%3>%+2.$).$%N2>%)*<O%2.%>)1%>13/
+:12*8%.:-.$=:$*0%8$.0)023*.?%-:0%0#$1$ X$.0)023*)'% 4$/4#2832+% 2.% .:>E&2$*0'< &'$)1A% b20#% *3% 41$+2&025$% 0$.0% )5)2')-'$?
)1$%*3%+)0)%03%.:44310%0#2.%&3*0$*023*A 1)1$% 0#)0% *3% &3*013''$+% .0:+2$.% )1$% )5)2'( 41$5$*023*%2.%*30%43..2-'$A
Q3%&'$)1%4)00$1*%3>%4)0$1*)'%&3*012-:( )-'$A%Q3*$0#$'$..?%0#$1$%2.%8$*$1)'%&3*.$*( "#3.$% 720#% )% #2.031<% 3>% \X% >)&$% 0#$
023*?%2>%0#$1$%2.%3*$?%#).%<$0%-$$*%$':&2( .:.% 0#)0% 01$)0/$*0% 720#% 0342&)'% &3102&3( '26$'2#33+% N-:0% *30% 0#$% )..:1)*&$O% 3>% 1$(
.0$132+.%)*+%)*02#2.0)/2*$.%2.%2*$>>$&025$A &:11$*0% 2*53'5$/$*0% +:12*8% .:-.$=:$*0
_<.0$/2&% &3102&3.0$132+.% 1$/)2*% 0#$% &31( 8$.0)023*.% )*+% )1$% '26$'<% 03% +$5$'34
#*+&'0)(
*$1.03*$% 3>% 0#$1)4<A% L3.0% 4)02$*0.% 1$( .</403/.%+:12*8%0#$%:.$%3>%31)'%&3*01)(
!-@@"*".,-&'(!-&+.%#-#(%@( .43*+% 03% IAJ% /8g68% 3>% 41$+*2.3*$% N41$+( &$4025$.A%b3/$*%7#3%#)5$%$@4$12$*&$+
5"$DO-+%-I(;"#,&,-%.-# *2.3'3*$O% +)2'<A% L)2*0$*)*&$% 0#$1)4<? \X% *$$+% *30% )532+% )++2023*)'% 41$8*)*(
!"#$%&'()*+ 8$*$1)''<%)0%)%'37$1%+3.)8$?%/)<%31%/)< &2$.A% "#$<% .#3:'+?% #37$5$1?% -$% &3:*(
2:DI<9:I9E'N7?NBIKAI>'K7GD9DIA8IG *30%-$%1$=:21$+%0#13:8#3:0%8$.0)023*A%K. .$'$+%0#)0%1$&:11$*0%+2.$).$%2.%0#$%1:'$A
):;:IDI<';:DI<9:I9E'N9N;E7G'98>'NE9W;7G'AH' *30$+% $)1'2$1?% /)*<% 4)02$*0.% $@4$12$*&$
N:7K898<F .43*0)*$3:.%+2.$).$%1$81$..23*%+:12*8%0#$
V&\'%&(&%&-/&#
$DB7:'7:;NDIA8G'AH'N:7K898<F'XG77'/B9NC' 0#21+% 012/$.0$1?% 3*'<% 03% $@4$12$*&$% 9)1$
6_bY +:12*8%4)10:12023*A 4B7'H;EE':7H7:78<7'EIGD'HA:'9EE'<B9ND7:G'
/A8D9<D'>7:?9DIDIG R*%2*+252+:)'%&).$.?%)'0$1*)025$.%03%&31( IG'9P9IE9OE7'9D'ZZZC>IK?bC<A?C
!:;K'7:;NDIA8 02&3.0$132+.%N+)4.3*$?%4<12+3@2*$?%&<&'3(
.4312*$O% 31% )+B:5)*0.% N83'+?% /$0#301$@( HA K/-13.(]:+3'4#% T% $0% )'[% "#$% .4$&2E&
,"-#'.)/ )0$?%&<&'34#3.4#)/2+$?%4')./)4#$1$.2.O +$1/)03.$.% 3>% 41$8*)*&<% 1$52.20$+% )*+
2:DI<9:I9 1$&')..2E$+[% ]$.:'0.% 3>% )% 1$013.4$&025$
#)5$%-$$*%012$+A%Q3*$?%720#%0#$%43..2( 073(&$*0$1% .0:+<% 3*% JIJ% 41$8*)*0
&:FDB7?9'?;EDIHA:?7 -'$% $@&$4023*% 3>% &<&'3.4312*$?% 2.% :.$( 4)02$*0.A O' 8!' 8#"(' 6&+!"-/% "'[P^J?
!7:?9DIDIG'B7:N7DIHA:?IG >:'% 41231% 03% 0$1/?% )*+% 0#$% $@4$12$*&$ `IIV
720#% $)&#% #).% -$$*% 5)12)-'$% )0% -$.0A `^A i$''<% _c?% D')&6% LL?% W'$/2*8% _[% \$/(
34*)%54$ 4#2832+% 8$.0)023*2.[% K% :*2=:$% /$&#)(
)7?NBIK;G'P;EK9:IG "#$1$% )1$% 3-523:.% &3*&$1*.% 720#% 0#$ *2./% 3>% 2*202)023*% 3>% )*% ):032//:*$
19:I<7EE9 :.$%3>%)*<%3>%0#$.$%)'0$1*)025$.%+:12*8 1$.43*.$%-<%LdT%&')..%RR%/3'$&:'$.m% O
41$8*)*&<A 4"-*/% !"%[!H?%H^!^
!>A
1$.&$*&$%NMRWO%3>%4$12'$.23*)'%.62*%-234(
/0+)4&%'5c .2$.% >13/% cDK% 4)02$*0.% 1$5$)'.% R8X
+$43.20.% )0% 0#$% MclA`% cDK% )*02-3+2$.
&)"!&%*$,\#"#
#$%&'()1+X3%3 -2*+%03%0<4$%aRR%&3'')8$*%720#2*%)*(
2*8%E-12'.%N.$$%T#)4A%JHOAP?S
32,,$#+
=J++13*,<U]J%3%T* K*ĸ*8% E-12'.% )*% 0#$% $42+$1(
/2.%)*+%20.%:*+$1'<2*8%DLu%03%0#$%4)4(
+/t2"#"4+
!9PI>'4C'fAA>E7F'
2'')1<% +$1/2.A% \)02$*0.% 720#% #$1$+20)1<
>31/.% 3>% +<.0134#2&% cD% N.$$% T#)4A% VIO +4'+'L,+-/&'
*7I'/B78' )*+%cDK%#)5$%+$&1$).$+%*:/-$1.%3>%)*(
ĸ*8%E-12'.%2*%0#$21%MclA%"#2.%4):&20<
3>% )*ĸ*8% E-12'.% 2.% )..3&2)0$+% 720#
&)"!&*"$,$L\ 073% .2/2')1% &'2*2&)'% 4#$*30<4$.?% cDK
c42+$1/3'<.2.%-:''3.)%)&=:2.20)%NcDKO%2. )*+% +<.0134#2&% >31/.% 3>% #$1$+20)1<% cD?
)% .431)+2&% ):032//:*$% -:''3:.% +2.$).$ -$&):.$%-30#%+2.$).$.%)1$%&#)1)&0$12F$+
3>% :*6*37*% $023'38<% )*+% 720#% *3% 8$*( -<% .62*%>1)82'20<?%.:-($42+$1/)'% -'2.0$1.?
+$1?% $0#*2&?% 31% 8$381)4#2&% 41$+2.43.2( /2'2)%>31/)023*?%)*+%.&)112*8A%K'0#3:8# %9:7M'9;DAI??;87'G;O.7NI>7:?9E'O;E.
023*A% K'0#3:8#% cDK% +3$.% *30% #)5$% ) -30#% cDK% )*+% #$1$+20)1<% >31/.% 3>%+<.( EA;G'>IG79G7'>;7'DA'I??;8AKEAO;EI8'L'
L$*+$'2)*% 4)00$1*% 0<4$% 3>% 2*#$120)*&$? 0134#2&%cD%)1$%$023'382&)''<%:*1$')0$+%2* 9;DA98DIOA>I7G'DA'DFN7'1""'<AEE9K78C'
0#$1$% /)<% -$% .3/$% 8$*$02&% 41$+2.43.2( 0$1/.% 3>% 0#$21% :*+$1'<2*8% 4)0#38$*$.2.? &DIAEAKF'IG';8=8AZ8C'
023*% 03% cDK% )*+% ):032//:*20<% 2*% K>12( 0#$<% .#)1$% 0#$% &3//3*% >$)0:1$% 3>% +$( #=I8'H:9KIEIDFM'G;O.7NI>7:?9E'OEIGD7:GM'
&)*% K/$12&)*.% 7#3% '25$% 2*% 0#$% .3:0#( &1$).$+% )*ĸ*8% E-12'.A% R*% 0#$% &).$% 3> :7GI>;9E'G<9::I8KM'98>'?IEI9'HA:?9DIA8C'
$).0$1*% 4)10% 3>% 0#$% C*20$+% _0)0$.AH +<.0134#2&% >31/.% 3>% #$1$+20)1<% cD?% 0#$ /A??A8'GID7G'9:7'D:9;?9.N:A87'9:79G'
K>12&)*%K/$12&)*%4)02$*0.%2*%0#$%.3:0#( &):.$% 3>% +$&1$).$+% 31% )-.$*0% )*ĸ*8 G;<B'9G'B98>GM'H77DM'7EOAZGM'=877GM'
$).0$1*% 4)10% 3>% 0#$% C*20$+% _0)0$.% 7#3 E-12'.%2.%)%8$*$02&%+$>$&0%2*%0#$%8$*$%0#)0 G9<:;?M'89IEGM'98>'?A;DBC
#)5$%$20#$1%cDK%31%-:''3:.%.<.0$/2&%':( $*&3+$.% >31% 0<4$% aRR% &3'')8$*% % &#)2*.
%7E9D7>'H79D;:7G'?9F'I8<E;>7'98';8>7:EF.
4:.%$1<0#$/)03.:.%N_ecO%#)5$%)%#28#%2*( 0#)0% :'02/)0$'<% 1$.:'0.% 2*% ./)''?% *3*(
I8K'GFGD7?I<'>IG79G7'G;<B'9G'I8d9??9.
&2+$*&$% 3>% 0#$% deK(M]`% 4#$*30<4$A >:*&023*)'% 31% +$&1$).$+% )*ĸ*8
DA:F'OAZ7E'>IG79G7C'*9F'B9P7'7:AGIA8G'AH'
"#$% &)'&:')0$+% 1$')025$% 12.6% >31% cDK% 2* E-12'.AJ?V% "#$% 8$*$% &3+2*8% >31% 0<4$% aRR
DB7'?;<AG9'98>'7GANB9K79E'GD78AGIGC
deK(M]`t% 2*+252+:)'.% 2.% HPAH% 2*% 0#$.$ &3'')8$*% 2.% '3&)0$+% 3*% 0#$% .#310% )1/% 3>
4)02$*0.A%"#$.$%1$.:'0.%)'.3%.:88$.0%0#)0 
/3.3/$% P?% )4413@2/)0$'<% `H% &/ )9DBAEAKF'GBAZG'G;O.7NI>7:?9E'O;EE9M'
cDK%)*+%-:''3:.%_ec%)1$%2//:*38$*$0( >13/% F$13AU% "#$% 8$*$% +$>$&0.% 2*53'5$+ TO:AGIGM'?IEI9'HA:?9DIA8M'98>'NAGIDIP7'
2&)''<% 1$')0$+% )*+% 0#)0% $20#$1% 0#$% deK( 2*% #$1$+20)1<% >31/.% 3>% +<.0134#2&% cD >I:7<D'I??;8Ad;A:7G<78<7'HA:'I??;8A.
M]`% 8$*$% 2.% 2*53'5$+% 720#% ):032//:( #)5$% -$$*% 2+$*02E$+% )0% 5)12)-'$% '3&)( KEAO;EI8'L'>7NAGIDG'9D'DB7'7NI>7:?9E.
*20<% 03% )*ĸ*8% E-12'% &3'')8$*% 31% 2. 023*.?%-:0%0#$%.$5$120<%3>%0#$%+2.$).$%)4( >7:?9E'R;8<DIA8C
.3/$% .310% 3>% )% /)16$1% >31% .3/$% 30#$1 4$)1.% 03% &311$')0$% 720#% 0#$% +$81$$% 3> 4:79D?78D'ANDIA8G'EI?ID7>'98>'AHD78'
8$*$% 0#)0% $@2.0.% 2*% '2*6)8$% +2.$=:2'2-( 0<4$% aRR% &3'')8$*% )*+% )*ĸ*8% E-12' >IHT<;EDC
12:/%720#%20AH 4$10:1-)023*.AV%R*%cDK?%0#$%R8X%):03)*(
02-3+2$.%-2*+2*8%03%0#$%0<4$%aRR%&3'')8$*
% &#)2*.% 1$.:'0% 2*% +$&1$).$+% )*ĸ*8 0$1/2*:.% &)''$+% 0#$% ,/,)#/%%"0&,/$.' =
&4"$,$L\'+-!')+40$L&-&#"# E-12'.?% -:0% 0#$% 4)0#7)<% '$)+2*8% 03% 0#2. NQT(HO (/!"3,% 0#)0% 2.% )4413@2/)0$'<
cDK%2.%)%
*2&?%.:-($42+$1/)'%-'2.0$1( 1$+:&023*% 2.% :*6*37*A% R0% /)<% -$% 0#)0 3*$(#)'>%0#$%$*021$%/)..%3>%0#$% %&#)2*A
2*8% +2.$).$% )..3&2)0$+% 720#% ):032//:( 0<4$% aRR% &3'')8$*% % &#)2*.% 0#)0% )1$ Q$@0?%0#$1$%2.%)%#$'2&)'%+3/)2*%720#%0<4(
*20<% 03% 0#$% &3'')8$*% N0<4$% aRR% &3'')8$*O *$7'<% .<*0#$.2F$+% -:0% +$&31)0$+% 720# 2&)'%8'<&2*$(f(j%1$4$)0.A%K0%0#$%&)1-3@<'
720#2*% )*ĸ*8% E-12'% .01:&0:1$.% 0#)0 cDK% ):03)*02-3+2$.% &)**30% >31/% 0124'$( 0$1/2*:.%2.%)%.$&3*+%8'3-:')1%*3*&3'')8(
)1$% '3&)0$+% )0% 0#$% +$1/)'($42+$1/)' #$'2&)'% .01:&0:1$.% )*+% .0)-'$% )*ĸ*8 $*3:.% +3/)2*?% QT(`?% 0#)0% 2.% /:&#
B:*&023*%NMclOA%K'0#3:8#%0#$%41$&2.$%$02( E-12'.A% d$)'$+% -:1*% 73:*+.% 0#)0% #)5$ ./)''$1%0#)*%QT(HA^%L3.0%cDK%):03)*02(
3'38<% 3>% cDK% 2.% :*6*37*?% /3.0% 3>% 0#$ -$$*% &35$1$+% 720#% &:'0:1$+% 6$1)02*3( -3+2$.%1$&38*2F$%>3:1%41$+3/2*)*0%)*02(
$52+$*&$%.:88$.0.%)*%):032//:*$%$023'( &<0$% .#$$0.% )'.3% #)5$% +$&1$).$+% *:/( 8$*2&%$42034$.%720#2*%0#$%QT(H%+3/)2*
38<A%"#$%2//:*38'3-:'2*%X%NR8XO%):03( -$1.%3>%)*ĸ*8%E-12'.%720#2*%0#$%E1.0 )*+%+3%*30%1$&38*2F$%0#$%#$'2&)'%31%QT(
)*02-3+2$.%03%0<4$%aRR%&3'')8$*%)1$%)..3( <$)1%)>0$1%01)*.4')*0)023*?%)*+%0#2.%2.%).( `% +3/)2*.AHI?HH% "#$1$% /)<% -$% .3/$(
&2)0$+% 720#% )% 4):&20<% 3>% *31/)' .3&2)0$+% 720#% .43*0)*$3:.% -'2.0$1% >31( 0#2*8% 2*012*.2&)''<% Y)*028$*2&Z% )-3:0% 0#$
)*ĸ*8%E-12'.%)0%0#$%-).$/$*0%/$/( /)023*?% .#310$*$+% .:&023*% -'2.0$12*8 QT(H% +3/)2*% -$&):.$% 0#$% )5)2')-'$
-1)*$% F3*$% NDLuO% .$4)1)02*8% 0#$% $42( 02/$.?% )*+% .62*% >1)82'20<A!% "#$.$% 3-.$1( /3*3&'3*)'% )*02-3+2$.% 0#)0% #)5$% -$$*
+$1/2.% >13/% 0#$% +$1/2.% )*+% 4331% $42( 5)023*.% 41352+$% 2*+21$&0% $52+$*&$% 0#)0 8$*$1)0$+% )8)2*.0% 0<4$% aRR% &3'')8$*
+$1/)'(+$1/)'%)+#$1$*&$A%K'0#3:8#%20%2. )*ĸ*8%E-12'.%4')<%)%13'$%2*%/)2*0)2*( N)*02,T(aRR% )*02-3+2$.O% .4$&2E&)''<% 1$&(
)*% )&=:21$+% +2.$).$% 0#)0% :.:)''<% -$82*. 2*8% )+#$1$*&$% -$07$$*% 0#$% $42+$1/2. 38*2F$%3*'<%QT(H%.:-+3/)2*.A
2*%)+:'0#33+?%20%7).%4')&$+%2*%0#$%&)0$( )*+%+$1/2.A K% 1$+:&023*% 2*% 0#$% *:/-$1% 3>% )*(
831<%$42+$1/3'<.2.%-:''3.)%NcDO%)4413@( "#$% 0<4$% aRR% &3'')8$*% % &#)2*% #).% ) ĸ*8% E-12'.% 2.% .$$*% 2*% '$.23*)'% )*+
2/)0$'<% HII% <$)1.% )83% -$&):.$% 4#<.2( /3'$&:')1% /)..% -$07$$*% `JI% )*+% P`I 4$12'$.23*)'% .62*% 3>% cDK% 4)02$*0.?% -:0
&2)*.% 7$1$% .01:&6% -<% #37% .2/2')1% 0#$ 6+?% )*+% 0#$% &3'')8$*% &3*.2.0.% 3>% )% #3( 0#$% 4)0#7)<% '$)+2*8% 03% 0#2.% 1$+:&023*
&'2*2&)'% '$.23*.% 3>% cDK% 7$1$% 03% 0#3.$ /3012/$1%3>%0#1$$%2+$*02&)'% %&#)2*.%N.$$ 2.%:*6*37*A
.$$*%2*%'+1$*%720#%#$1$+20)1<%+<.013( T#)4A% JHOA% c)&#% % &#)2*% &3*.2.0.% 3>% ) _$5$1)'%2*+$4$*+$*0%'2*$.%3>%$52+$*&$
4#2&% >31/.% 3>% cDA% M21$&0% 2//:*39:3( ')18$% 8'3-:')1% *3*&3'')8$*3:.% )/2*3 #)5$%2/4'2&)0$+%):032//:*$%1$.43*.$.
!>!
D'3%1-"+,W%1$3X
8&<J-/#5-2+"'.<&''" ?$)2"-/#5-2+"'.<&''"
A*$(#5-2.*)0-2.,V.
!-2#'-(#*$"'.,?S E'I"T%V' A*$(#5-2.*)0-2.,V
C-O4O3./-+/0#4&(D
!*(#)#6-.%*2.?4@ 8"')J(/'#).,?S
A*$(#5-2.L:>."$5."$)#JUR
,-2+"'.%'**2 L/#5-2+"'.2**% A*$(#5-2.<&''*&(
A!.A0"$.5#(-"(-
()"#$#$4 ()"#$#$4 /-+/0#4*#5
@0*0-()"$#.5#(-"(-
E'I"T%V' L:>.()#''./*((#<'-
665
?%."6"#'"<'-W !*(#)#6-.%*2
LU?8> 1#21&'")#$4."$)#J:PQ
X-()-2$.:UYZ "$)#<*5#-(
LP
?++&$*JLP
,-2+"'.%'**2.
8"')J(/'#).(9#$.??S
()"#$#$4
56789#,:4.; +NN:A9<B'DA'DB7'N9DI78D'ZIDB'7NI>7:?AEFGIG'O;EEAG9'9<W;IGID9'X&3+YC'3*e'['O9G7?78D'?7?O:987'JA87U'!"('['>I:7<D'I??;8Ad;A:7G<78<7U
!j'['>I9K8AGIGU'&,"#+'['78JF?7.EI8=7>'I??;8AGA:O78D'9GG9FU'"KL'['I??;8AKEAO;EI8'LU'""('['I8>I:7<D'I??;8Ad;A:7G<78<7C
).%)%6$<%$'$/$*0%2*%0#$%4)0#38$*$.2.%3> 720#% /)*<% 3>% 0#$% >$)0:1$.% 3>% cDK% 2* '382&% )*+% :'01).01:&0:1)'% >$)0:1$.% )62*% 03
cDKA% W21.0?% 0#$% 4)0#38$*2&% 13'$% 3>% cDK #:/)*.AHU% "#$% /2&$% +$5$'34$+% .:-( #:/)*%cDKAH^%")6$*%038$0#$1?%0#$.$%.:&(
)*02-3+2$.%2.%.:88$.0$+%-<%0#$%3-.$15)( $42+$1/)'%-'2.0$1.%)*+%'3.0%*)2'.%3*%0#$21 &$..>:'% 4)..25$% 01)*.>$1% $@4$12/$*0.% )*+
023*% 0#)0% 7#$*% 4)02$*0.% 720#% _ec% +$( >$$0A%"#$<%)'.3%#)+%&21&:')02*8%QT(H%)*( 0#$% 3-.$15)023*.% 720#% -:''3:.% _ec
5$'34% ):03)*02-3+2$.% 03% 0#$% cDK% )*02( 02-3+2$.% 2*% 0#$21% -'33+% )*+% )*02,QT(H .013*8'<%.:88$.0%0#)0%cDK%):03)*02-3+2$.
8$*?% 0#$<% +$5$'34% 72+$.41$)+% .62* R8X% )*02-3+<% +$43.20.% )0% 0#$21% MclA% R* )1$% Y4)0#38$*2&Z% )*+% &)4)-'$% 3>% &):.2*8
-'2.0$1.% )*+% >)''% 2*03% )% .:-.$0% 3>% _ec )++2023*?%0#$%/2&$%#)+%/:12*$%&3/4'$( $42+$1/)'(+$1/)'%.$4)1)023*%2*%.62*A
&)''$+ 5$%%/$.' KGMWHV% "#2.% Y$@4$12/$*0 /$*0% +$43.20.% )0% 0#$% Mcl% 2*+:&$+% -<
3>% *)0:1$Z% .:88$.0.% 0#)0% cDK% ):03)*02( 0#$% ):03)*02-3+<()*028$*% &3/4'$@AHU
-3+2$.% )1$% 4)0#38$*2&% )*+% &)4)-'$% 3> K*30#$1% .0:+<% -<% _20)1:% )*+% &3'( /,"-"/+,'("-!"-L# NW28A%J!(HO
2*+:&2*8%+2.)+#$1$*&$%-$07$$*%0#$%$42( '$)8:$.H!% .#37$+% 0#)0% 0#$% 2*B$&023*% 3> R>%)%4)02$*0%41$.$*0.%720#%-:'')$%3*%0#$
+$1/2.% )*+% +$1/2.A% _$&3*+'<?% +21$&0 1)--20%43'<&'3*)'%)*02-3+2$.%03%0#$%QT( .62*%720#%*3%1$).3*)-'$%$@4')*)023*%+$(
4133>% 0#)0% cDK% ):03)*02-3+2$.% )1$ H% +3/)2*% 3>% /3:.$% 0<4$% aRR% &3'')8$* .420$% )% 0#313:8#% #2.031<% )*+% 4#<.2&)'
4)0#38$*2&% &3/$.% >13/% 1$&$*0% 4)..25$ 2*03% /2&$% )'.3% 2*+:&$+% .:-($42+$1/)' $@)/2*)023*?% 0#1$$% 0$.0.% .#3:'+% -$
01)*.>$1%.0:+2$.A%b$%2//:*2F$+%1)--20. .62*% -'2.0$1.% 0#)0% 7$1$% 1$/2*2.&$*0% 3> +3*$[% )% .62*% -234.<% >31% 13:02*$% #$/)(
)*+%1)2.$+%)%#28#%020$1%)*02.$1:/%03%0#$ #:/)*%cDKAH!%W:10#$1?%7$%#)5$%)'.3%)>( 03@<'2*% )*+% $3.2*% #2.03'38<?% )% .$&3*+
QT(H% +3/)2*% 3>% #:/)*% 0<4$% aRR% &3'( E*20<%4:12E$+%#:/)*%cDK%):03)*02-3+( -234.<% B:@0)43.$+% 03% )% '$.23*% -:0% 3*
')8$*A% b$% 2*B$&0$+% 0#2.% )*02-3+<% 2*03 2$.% )8)2*.0% )*% QT(H% &3':/*% )*+% 2*( *31/)'()44$)12*8% .62*% >31% MRW% )*+% )
#)21'$..% 2//:*$% &3/4$0$*0% /2&$?% )*+ B$&0$+% 0#$/% 2*03% /2&$A% "#$% /2&$% 0#$* -'33+% +1)7% 03% 0$.0% >31% )*02-3+2$.
0#$%/2&$%+$5$'34$+%-:''3:.%.62*%+2.$).$ +$5$'34$+%&'2*2&)'?%#2.03'382&?%2//:*3( )8)2*.0% 0#$% DLu% )*+g31% 0<4$% aRR% &3'(
!>:
')8$*% -<% 2*+21$&0% 2//:*39:31$.&$*&$
NRRWO% 31% $*F</$('2*6$+% 2//:*3.31-$*0
)..)<%NceR_KOA
0IGDA:F
56789#,:4.? )9DI78D' ZIDB
/;D987A;G',7GIA8G 7NI>7:?AEFGIG' O;EEAG9' 9<W;IGID9
ZBA' B9G' G7P7:7' OEIGD7:I8KM' 7:A.
"#$% &:0)*$3:.% '$.23*.% 3>% cDK% &)*% -$ GIA8GM' G<9::I8KM' 98>' ?IEI9' HA:.
=:20$%5)12$+%)*+%&)*%/2/2&%30#$1%0<4$.%3> ?9DIA8' A8' D:9;?9.N:A87' 9:79G
)&=:21$+% ):032//:*$% -:''3:.% +2.$).$.A
AH' B7:' G=I8C' 4BIG' IG' DB7' <E9GGI<
"#$% &3//3*% +$*3/2*)031% >31% 4)02$*0.
N:7G78D9DIA8C
720#% cDK% 2.% ):032//:*20<% 03% 0<4$% aRR
N)*ĸ*8% E-12'O% &3'')8$*A% K'0#3:8#% 0#$
&'2*2&)'%.4$&01:/%3>%cDK%2.%.02''%-$2*8%+$( .$=:$')$?% .:&#% ).% .&)112*8?% '3..% 3>% .&)'4 $42+$1/)'% -:'')$?% R8X% +$43.20.% )0% 0#$
E*$+?% 0#$1$% )1$% )0% '$).0% E5$% &'2*2&)'% 41$( #)21?% '3..% 3>% *)2'.?% E-13.2.% 3>% 0#$% #)*+. Mcl?% )*+% /2*2/)'% 31% *3% /:&3.)'% 2*(
.$*0)023*.[%NHO%)%&')..2&%41$.$*0)023*?%N`O%) )*+%E*8$1.?%)*+%$.34#)8$)'%.0$*3.2.A`P 53'5$/$*0A% "#$% )*028$*2&%0)18$0% >31%0#$
-:''3:.% 4$/4#232+% ND\O('26$% 41$.$*0)023*? R8X% ):03)*02-3+2$.?% #37$5$1?% #).% *30
NPO% )% &2&)012&2)'% 4$/4#2832+% NT\O,'26$% 41$( -$$*%+$E*$+A%Q$5$10#$'$..?%)%4)02$*0%1$(
.$*0)023*?%NSO%)%41$.$*0)023*%1$/2*2.&$*0%3>
3;EEA;G')7?NBIKAI>l,I=7' 4310$+% 720#% 0#2.% &3*.0$'')023*% 3>% E*+(
D1:*.02*8(\$11<%4$/4#2832+%720#%.&)112*8 ):7G78D9DIA8 N_$$%T#)4A%JSO 2*8.%#)+%R8X%):03)*02-3+2$.%+21$&0$+%03
'$.23*.%)*+%)%41$+3/2*)*0%#$)+%)*+%*$&6 )*ĸ*8% E-12'.% -$'37% 0#$% ')/2*)
K%.$&3*+%&'2*2&)'%41$.$*0)023*%3>%cDK%2.
+2.012-:023*?% )*+% NJO% )% 41$.$*0)023*% 1$/2( +$*.)A`J% b$% #)5$% .$$*% 0#1$$% )++2023*)'
3>%)%72+$.41$)+?%2*9)//)031<%5$.2&:'3(
*2.&$*0%3>%'2*$)1%R8K%-:''3:.%+$1/)03.2.%31 4)02$*0.%720#%0#$%>$)0:1$.%3>%D1:*.02*8(
-:''3:.% $1:4023*% 2*53'52*8% 0#$% 01:*6?

*2&%-:''3:.%+2.$).$%3>%'+#33+A \$11<% 4$/4#2832+% )*+% ):03)*02-3+2$.
&$*01)'%-3+<?%)*+%.62*%>3'+.% 2*% )++2023*
+21$&0$+% 03% 0<4$% aRR% &3'')8$*% N:*4:-(
03%0#$%$@01$/202$.AHJ%"#$%-:''3:.%'$.23*.
'2.#$+% 3-.$15)023*.OA% "#$1$>31$?% 20% )4(
)1$%0$*.$%)*+%.:113:*+$+%-<%2*9)/$+%31
/E9GGI<'):7G78D9DIA8 $5$*% :102&)12)'% .62*A% e)18$% )1$).% 3>% 2*(
4$)1.% 0#)0% cDK% 4)02$*0.% /)<% 41$.$*0
720#% )% &'2*2&)'% 4#$*30<4$% 3>% D1:*.02*8(
"#$% &')..2&% 41$.$*0)023*% NW28.A% J!(`% )*+ 9)/$+% .62*% /)<% -$% .$$*% 720#3:0% )*<
\$11<%4$/4#2832+%N.$$%W28A%J!(PMOA
J!(PKO% 2.% 3>% )% *3*2*9)//)031<% -:''3:. -'2.0$1.% )*+% 3*'<% $1<0#$/)% 31% :102&)12)'
+2.$).$% 720#% )*% )&1)'% +2.012-:023*% 0#)0 4')=:$.A% "#$.$% 4)02$*0.% 3>0$*% &3/4')2*
#$)'.% 720#% .&)112*8% )*+%/2'2)%>31/)023*A 3>% 41:120:.% )*+% +3% *30% +$/3*.01)0$ "??;8AKEAO;EI8'+'
"#2.% 41$.$*0)023*% 2.% 1$/2*2.&$*0% 3>% 431( 413/2*$*0% .62*% >1)82'20<?% .&)112*8?% 31 3;EEA;G'!7:?9DAGIGl,I=7'
4#<12)% &:0)*$)% 0)1+)% N\T";% .$$% T#)4A /2'2)% >31/)023*A% "#2.% &'2*2&)'% &3*.0$'')(
HP`O% 7#$*% 20% 2.% /2'+% )*+% 3>% 0#$% #$1$+2( 023*%2.%/31$%1$/2*2.&$*0%3>%D\%N.$$%W28.A ):7G78D9DIA8 N_$$%T#)4A%JVO
0)1<% >31/% 3>% 1$&$..25$% +<.0134#2&% cD J!(PD%)*+%J!(SO%0#)*%)%/$&#)*3-:''3:. R8K% -:''3:.% +$1/)03.2.,'26$% 41$.$*0)(
7#$*% 20% 2.% .$5$1$% N.$$% T#)4A% VIOA% "#$ +2.31+$1A% _2/2')1% 03% D\?% 0#$% +2.012-:023* 023*% 3>% cDK% 2.% /)*2>$.0$+% -<% )% .:-(
&')..2&% >31/% 3>% cDK% 2.% 0#:.% )% /$&#)*3( 3>% 0#$% '$.23*.% /)<% .#37% )*% )&&$*0:)( $42+$1/)'% -:''3:.% $1:4023*?% )% *$:013(
-:''3:.%+2.$).$% /)16$+%-<%.62*%>1)82'20<A 023*%720#2*%9$@:1)'%)1$).%)*+%.62*%>3'+.A 4#2'2&% 2*E'01)0$?% )*+% '2*$)1% R8K% +$43.20.
"#$.$%4)02$*0.%#)5$%$13.23*.?%0$*.$%-'2.( )0%0#$%DLu%7#$*%52$7$+%-<%MRWA%R0%/)<
0$1.% 720#2*% *3*2*9)/$+% .62*?% )*+% .&)1. 1$.$/-'$% '2*$)1% R8K% -:''3:.% +$1/)03.2.
35$1% 01):/)(413*$% .:1>)&$.% .:&#% ).% 0#$ /I<9D:I<I9E')7?NBIKAI>l,I=7' NeKDMO?% +$1/)0202.% #$14$02>31/2.?% 31
-)&6.% 3>% 0#$% #)*+.?% 6*:&6'$.?% $'-37.? ):7G78D9DIA8 N_$$%T#)4A%JJO 
*2&% -:''3:.% +2.$).$% 3>% '+#33+
6*$$.?%.)&1)'%)1$)?%)*+%03$.%N.$$%W28.A%J!(`? )*+%/)<%>$)0:1$%0$*.$%5$.2&'$.%)11)*8$+
D30#% 0#$% &')..2&% )*+% D\('26$% >31/.% 3>
J!(PK?% )*+% J!(SOA% _3/$% -'2.0$1.% /)<% -$ 2*% )*% )**:')1% >).#23*% )*+% 2*53'5$/$*0
cDK%/)<%#)5$%2*53'5$/$*0%3>%/:&3.)'
#$/311#)82&%31%+$5$'34%.&)'$.?%&1:.0.?%31 3>%/:&3:.%/$/-1)*$.A`V%"#$%):03)*02(
.:1>)&$.A% d37$5$1?% cDK% )'.3% /)<
$13.23*.A% "#$% '$.23*.% #$)'% 720#% .&)112*8 -3+2$.%)1$%:.:)''<%R8K?%R8X?%31%-30#A
41$.$*0%720#%.:&#%41$+3/2*)*0%/:&3.)'
)*+% >1$=:$*0'<% 720#% 0#$% >31/)023*% 3> "#$%+2)8*3.2.%3>%0#$.$%.:-($42+$1/)'
2*53'5$/$*0%0#)0%0#$%&'2*2&)'%)44$)1)*&$
4$)1'('26$% /2'2)% &<.0.% 720#2*% 0#$% .&)11$+ -'2.0$12*8% &).$.% 720#% R8K% )*02(0<4$% aRR
2.% 1$/2*2.&$*0% 3>% T\% N.$$% W28A% J!(PTOA`S
)1$).%N.$$%W28A%J!(PKOA%K'0#3:8#%0#2.%41$( &3'')8$*% )*02-3+2$.% .#372*8% '2*$)1% R8K
"#$.$% 4)02$*0.% :.:)''<% #)5$% $13.23*.
.$*0)023*% /)<% -$% 1$/2*2.&$*0% 3>% \T"? +$43.2023*% )0% 0#$% DLu% 2.% +2.4:0)-'$A
)*+%.&)1.%3*%0#$%/:&3.)'%.:1>)&$.%3>%0#$
0#$.$% 4)02$*0.% +3% *30% #)5$% 30#$1% #)''( _3/$% &'2*2&2)*.% 1$8)1+% 0#$% 4)02$*0.% ).
/3:0#?% :44$1% $.34#)8:.?% &3*B:*&025)?
/)16.%3>%\T"?%.:&#%).%#21.:02./?%)%4#3( #)52*8%4:1$'<%eKDM?%7#$1$).%30#$1.%1$(
)*:.?%31%5)82*)%720#%31%720#3:0%.2/2')1
03+2.012-:023*% 3>% 0#$% $1:4023*?% 31% .&'$13( 8)1+% 0#$/% ).% #)52*8% )% .:-.$0% 3>% cDKA
'$.23*.%3*%0#$%8')-13:.%.62*A
+$1/)('26$% &#)*8$.?% )*+% 0#$21% :12*)1< W:10#$1?% 0#$% /)B3120<% 3>% cDK% 4)02$*0.
4314#<12*.% )1$% 720#2*% *31/)'% '2/20.A% K #)5$% '37% 020$1% R8K% )*02-3+2$.% 2*% 0#$21
.&)112*8%)'34$&2)%)*+%.3/$%+$81$$%3>%*)2' 3:;8GDI8K.)7::F')7?NBIKAI>l,I=7' -'33+%+21$&0$+%)8)2*.0%0<4$%aRR%&3'')8$*A
+<.0134#<%/)<%-$%.$$*A T#2'+#33+% cDK% 2.% )% 1)1$% +2.$).$A% R0
K'0#3:8#%0#$%+2.$).$%2.%:.:)''<%*30%).
):7G78D9DIA8 N_$$%T#)4A%JJO #).%)%5)12)-'$%41$.$*0)023*?%2*&':+2*8%)*
.$5$1$% ).% 0#)0% 3>% 4)02$*0.% 720#% #$1$+2( D1:*.02*8(\$11<% &2&)012&2)'% D\% 2.% ) eKDM('26$% +2.$).$?% )% D\('26$% +2.$).$?
0)1<% >31/.% 3>% 1$&$..25$% +<.0134#2&% cD? 
*2&?%1$&:11$*0%5$.2&:'3-:''3:.% $1:4( )*+% 0#$% &')..2&% /$&#)*3-:''3:.% cDK
cDK% 4)02$*0.% 720#% 0#$% &')..2&% >31/% 3> 023*%'3&)'2F$+%03%0#$%#$)+%)*+%*$&6%)*+ 41$.$*0)023*A% K'0#3:8#% /:&3.)'% 2*(
!>G 0#$%+2.$).$%/)<%#)5$%/)*<%3>%0#$%.)/$ &#)1)&0$12F$+% -<% 1$.2+:)'% .&)1.?% .:-( 53'5$/$*0% 2.% >1$=:$*0% )*+% .$5$1$% 2*
<
0)1<%+<.0134#2&%cD%+:$%03%8$*$%+$>$&0.
2*%0#$%0<4$%aRR%&3'')8$*%8$*$A%"#$.$%2*(
&':+$% 31)'% $13.23*.?% $.34#)8$)'% .012&(
0:1$.?% #<43(% )*+% #<4$1428/$*0)023*
.62*% /300'2*8?% *)2'% '3..?% /2'2)% >31/)(
023*?% .&)112*8?% )*+% )% +$81$$% 3>% E-13.2.
3>%0#$%#)*+.A
= K% *:/-$1% 3>% 4:-'2.#$+% 1$4310.% .:8(
8$.0% 0#)0% cDK% /)<% -$% )..3&2)0$+% 720#
5)123:.% .<.0$/2&% +2.$).$.`I% .:&#% ).% 2*(
9)//)031<%-37$'%+2.$).$?%_ec?%)/<'32(
+3.2.?%0#<132+202.?%/:'024'$%$*+3&12*34)(
0#<% .<*+13/$?% 1#$:/)032+% )10#1202.?
4:'/3*)1<% E-13.2.?% 
*2&% '</4#3(
&<02&%'$:6$/2)?%0#</3/)?%+2)-$0$.?%)*+
30#$1%+2.$).$.%2*%7#2&#%)*%):032//:*$
4)0#38$*$.2.% #).% -$$*% 2/4'2&)0$+A% K0
0#$% C*25$1.20<% 3>%Q310#%T)13'2*)?% _0)*(
>31+?% Q310#7$.0$1*?% )*+% C*25$1.20<% 3>
_3:0#$1*% T)'2>31*2)?% 720#% )% &3/-2*$+
0 / $@4$12$*&$%3>%>3''372*8%35$1%V`%cDK%4)(
56789#,:4.A <B'/E9GGI<'N:7G78D9DIA8'AH'7NI>7:?AEFGIG'O;EEAG9'9<W;IGID9'ZIDB'G<9::I8K'98>'?IEI9'AP7:
D:9;?9.N:A87'9:79G'AH'G=I8C'=B 3;EEA;G'N7?NBIKAI>lEI=7'N:7G78D9DIA8'AH'7NI>7:?AEFGIG'O;EEAG9'9<W;IGID9
ZIDB'9'ZI>7GN:79>'I8d9??9DA:F'P7GI<;EAO;EEA;G'>7:?9DAGIGC'0B'/I<9D:I<I9E'N7?NBIKAI>lEI=7'N:7G78D9DIA8
AH'7NI>7:?AEFGIG'O;EEAG9'9<W;IGID9'ZIDB'9'?;<AG9E.<78D7:7>'O;EEA;G'G<9::I8K'7:;NDIA8C'/B 3:;8GDI8K.)7::F
N7?NBIKAI>lEI=7'N:7G78D9DIA8'AH'7NI>7:?AEFGIG'O;EEAG9'9<W;IGID9'ZIDB'O;EEA;G'98>'G<9::I8K'E7GIA8G'N:7.
>A?I898DEF'A8'DB7'B79>'98>'87<=C
>$$0% )*+% 03$.?% .3/$% cDK% 4)02$*0.% #)5$ 0#$1)4$:02&%  &$.A% M2)11#$)% 2.% )% &3/( DFN7'AH'&3+'ZIDB'?I8I?9E'I8d9??9DIA8C'0AZ7P7:M'ID'
+2>E&:'0<% 7)'62*8A% L)*<% 4)02$*0.% 720# /3*%.2+$%$>>$&0%3>%&3'&2*$?%#37$5$1? ?9F'O7'GA?7ZB9D'B7ENH;E'I8'DB7'O;EEA;G'N7?NBI.
KAI>lEI=7'DFN7'AH'&3+C
cDK% '3.$% 0#$21% E*8$1*)2'.A% cDK% 4)02$*0. 7#2&#% /)6$.% 20% +2>E&:'0% >31% /)*<% 4)( >"8D:9P78A;G'I??;8AKEAO;EI8'IG'KIP78'AP7:'`l5'
720#% .28*2E&)*0% /:&3.)'% 2*53'5$/$*0 02$*0.%03%)$5$%)%#28#%$*3:8#%+3.$%03 >9FG'7P7:F'?A8DB'HA:'5'A:']'?A'DA'KIP7'ID'98'9>7.
/)<%+$5$'34%$.34#)8$)'%.012&0:1$.A &3*013'% 0#$% +2.$).$A% L31$35$1?% -$&):.$ W;9D7'D:I9EC
!>>
-:''3.)%)&=:2.20)[%K%4$/4#2832+('26$%+2.( H!A _20)1:%T%$0%)'[%R*+:&023*%3>%+$1/)'($42(
V&\'%&(&%&-/&# $).$A O'8!'8#"('6&+!"-/% !![!`I?%H^!S +$1/)'% .$4)1)023*% 2*% /2&$% -<% 4)..25$
HVA X)//3*%b]%$0%)'[%c52+$*&$%0#)0%)*02( 01)*.>$1% 3>% )*02-3+2$.% .4$&2E&% 03% 0<4$
4B7'H;EE':7H7:78<7'EIGD'HA:'9EE'<B9ND7:G' -).$/$*0%/$/-1)*$%F3*$%)*02-3+2$.%2* aRR%&3'')8$*A%O';%3,'F,L&.- !!"[!UI?%`IIJ
IG'9P9IE9OE7'9D'ZZZC>IK?bC<A?C -:''3:.% $1:4023*% 3>% .<.0$/2&% ':4:. H^A b33+'$<%M"%$0%)'[%R*+:&023*%3>%$42+$1(
$1<0#$/)03.:.% 1$&38*2F$% $42+$1/3'<( /3'<.2.% -:''3.)% )&=:2.20)% 2*% /2&$% -<
`A j)320)% d% $0% )'[% c42+$1/3'<.2.% -:''3.) .2.% -:''3.)% )&=:2.20)% ):03)*028$*.A% O 4)..25$%01)*.>$1%3>%):03)*02-3+2$.%>13/
)&=:2.20)[%C'01).01:&0:1)'%)*+%2//:*3'38( F,L&.-'6&+!"-/% %'[SU`?%H^!J 4)02$*0.A O' F,L&.-' 6&+!"-/% !$#[% HP`S?
2&)'%.0:+2$.A%O'F,L&.-'6&+!"-/% )#[`!!?%H^!H HUA b33+'$<% M"% $0% )'[% c52+$*&$% 0#)0% )*02( `IIV
PA b33+'$<%M"%$0%)'[%R+$*02E&)023*%3>%0#$ 0<4$% aRR% &3'')8$*% )*02-3+2$.%)1$%4)0#3( ``A Q2$-3$1% T% $0% )'[% c42+$1/3'<.2.% -:''3.)
.62*% -).$/$*0% /$/-1)*$% ):03)*028$* 8$*2&% )*+% 1$.43*.2-'$% >31% 0#$% &'2*2&)'? )&=:2.20)[% R//:*39:31$.&$*&$?% $'$&(
2*% $42+$1/3'<.2.% -:''3.)% )&=:2.20)A% H #2.03'382&)'?% )*+% 2//:*3'382&)'% >$)( 013*% /2&13.&342&% )*+% 2//:*3$'$&013*
M,0%'O'P&( &!*[HIIU?%H^!S 0:1$.%3>%$42+$1/3'<.2.%-:''3.)%)&=:2.20)A /2&13.&342&%.0:+2$.%2*%>3:1%4)02$*0.A%@+'O
HJA X)//3*% b]% $0% )'[% c42+$1/3'<.2. O'F,L&.-'6&+!"-/% !$'[^J!?%`IIJ 6&+!"-/% !*$[P!P?%H^!I
#7:;?'#D;>I7G
K*021$02&:'2*% )*02-3+2$.% 3>% 0#$% R8K% )*+
56789#,:>.! !7:?9DIDIG'B7:N7DIHA:?IGC')9DD7:8'AH'>IGD:IO;DIA8C R8X% &')..$.% #)5$% -$$*% +$0$&0$+% 2*% 0#$
.$1)% 3>% HU% 4$1&$*0% 03% ^P% 4$1&$*0% 3>% 4)(
7).%R8K%NW28A%J^(JOA^?HI%R8K%+$43.20.%#)5$? R8K% +$43.20.% )1$% *30% :*2>31/'<% 2*0$*.$ 02$*0.%720#%Md%)*+%2*%#28#$1%4$1&$*0)8$.
#37$5$1?%*30%-$$*%.$$*%2*%0#$%.62*%3>%4)( 0#13:8#3:0% 0#$% .62*% )*+% /)<% -$% +$( 3>% 4)02$*0.% 720#% 30#$1% +2.$).$.?% $.4$(
02$*0.%720#%2.3')0$+%X_c%N&$'2)&%+2.$).$OASI 0$&0$+% /31$% $).2'<% 2*% *31/)'()44$)12*8 &2)''<% &$'2)&% +2.$).$AJ!% "#<132+% /2&13.3(
W2*+2*8% 81)*:')1% R8K% +$43.20.% 2*% *31( .62*% *$)1% )&025$% '$.23*.ASS% R*% Md?% 30#$1 /)'%)*02-3+2$.%)*+%)*02(*:&'$)1%)*02-3+(
/)'()44$)12*8% .62*% 2.% 0#$% /3.0% 1$'2)-'$ 2//:*38'3-:'2*.%.3/$02/$.%)1$%-3:*+ 2$.% )'.3% #)5$%-$$*% +$0$&0$+% 2*%2*&1$).$+
&120$123*% >31% 0#$% +2)8*3.2.% 3>% MdAPP?SH 03% 0#$% .62*% 2*% 0#$% .)/$% )1$).% ).% 0#$ 2*&2+$*&$% 2*% 0#$% .$1)% 3>% 4)02$*0.% 720#
"#$.$% R8K% +$43.20.% )1$% :*)>>$&0$+% -< R8KASH%R8K%+$43.20.%)'.3%/)<%-$%.$$*%2* MdAJ^?VI% \:0)025$% 2//:*$% &3/4'$@$.
01$)0/$*0%720#%+1:8.%-:0%/)<%+$&1$).$ 0#$% .62*% 3>% 4)02$*0.% 720#% -:''3:.% 4$/( #)5$%-$$*%+$0$&0$+%2*%0#$%.$1)%3>%`J%4$1(
2*%2*0$*.20<%31%+2.)44$)1%)>0$1%'3*8(0$1/ 4#2832+?% .&)112*8% 4$/4#2832+?% d$*3&#( &$*0%03%SI%4$1&$*0%3>%4)02$*0.AVH?V`
)+#$1$*&$%03%)%8':0$*(>1$$%+2$0AS`?SP%"#$ _&#s*'$2*% 4:14:1)?% )*+% )'&3#3'2&% '25$1 T#31F$'.62%$0%)'A%#)5$%+$.&12-$+%)*%R8K
+2.$).$?%)'0#3:8#%2*%+2>>$1$*0%4)00$1*.%3> )*02-3+<% 0#)0% -2*+.% 03% )*% 2*0$1/<3E-12'
+2.012-:023*%0#)*%0#3.$%.$$*%2*%MdA .:-.0)*&$%N$*+3/<.2:/O%3>%./330#%/:.(
D$&):.$% 3>%0#$% R8K% .62*% +$43.20.% )*+ &'$AVP%"#$%*)0:1$%3>%0#2.%)*028$*%#).%-$$*
0#$% )..3&2)023*% -$07$$*% Md% )*+% X_c 2+$*02E$+%1$&$*0'<%-<%0#$%.0:+2$.%3>%_)1+<
N&$'2)&% +2.$).$O?% .$5$1)'% 813:4.% #)5$ $0% )'A?% 7#3% .#37$+% 0#)0% 0#$.$% R8K% ):03(
.0:+2$+%0#$% R8K%.:-&')..$.%2*%MdA%R8KH )*02-3+2$.% #)5$% .4$&2E&20<% >31% "8).$.?
2.% 0#$% 41$+3/2*)*0% N31% $@&':.25$O% .:-( 4)102&:')1'<%$42+$1/)'(.4$&2E&%"8).$.AH^
&')..%0#)0%#).%-$$*%2+$*02E$+%2*%0#$%.62*
3>% Md% 4)02$*0.ASJ?SV% L3.0% R8KH% 2.% 413(
"??;8AK787DI<'(I8>I8KG
+:&$+% 2*% 0#$% -3*$% /)1137?% 7#$1$).
/3.0%R8K`%2.%413+:&$+%)0%/:&3.)'%.20$.A "#$1$% 2.% )% /)16$+% 2*&1$).$% 2*% 0#$% 2*&2(
"#2.%+3$.%*30%*$8)0$%0#$%43..2-2'20<%0#)0 +$*&$%3>%&$10)2*%/)B31%#2.03&3/4)02-2'20<
0#$%R8KH%2*%.62*%/)<%.02''%-$%3>%/:&3.)' &3/4'$@% )*028$*.% 2*% 4)02$*0.% 720#% MdA
31282*%-$&):.$%R8KH%2.%0#$%41$+3/2*)*0 b31'+72+$% .0:+2$.% #)5$% >3:*+% 0#)0% UU
R8K% .:-&')..% 3>% R8K% )*02-3+2$.% +21$&0$+ 4$1&$*0%03%!U%4$1&$*0%3>%Md%4)02$*0.%#)5$
)8)2*.0%+2$0)1<%4130$2*.%413+:&$+%2*%8:0 deK(D!%N&3/4)1$+%720#%`I%4$1&$*0%03%PI
.$&1$023*.%2*%4)02$*0.%720#%MdASU?S! 4$1&$*0% 3>% :*)>>$&0$+% 2*+252+:)'.OAHJ?VS,VV
"#$% 0#21+% &3/43*$*0% 3>% &3/4'$/$*0 R*% )++2023*?% 0#$% &')..% RR% /)B31% #2.03&3/(
NTPO%2.%>1$=:$*0'<%>3:*+%2*%0#$%.)/$%'3&)( 4)02-2'20<%&3/4'$@%)*028$*.%deK(M]%)*+
023*%).%R8KA%"#$%41$.$*&$%3>%TP%2*%-30# (Mn% )1$% )..3&2)0$+% 720#% Md% $5$*% /31$
4$12'$.23*)'%)*+%*31/)'()44$)12*8%.62*%2. >1$=:$*0'<%0#)*%2.%deK(D!AVU?V!%\)16%$0%)'A
*30% )>>$&0$+% -<% 01$)0/$*0% 720#% +)4.3*$ 1$4310$+%0#)0%/31$%0#)*%^I%4$1&$*0%3>%4)(
N+2)/2*3+24#$*<'% .:'>3*$O?% -:0% TP% /)< 02$*0.% $@41$..$+% "$`S?% 7#2&#% 7).% ')0$1
*30%-$%+$0$&0)-'$%)>0$1%01$)0/$*0%720#%) .#37*%03%-$%.2/2')1%03%deK(Mn7`?%)*+
56789#,:>.: !7:?9DIDIG' B7:N7DIHA:?IGC' !I. 8':0$*(>1$$% +2$0ASP?S^?JI% TJ% )*+% &3/43( 0#2.% E*+2*8% #).% -$$*% &3*E1/$+% -<% 30#(
:7<D' I??;8Ad;A:7G<78<7' GBAZI8K'K:98;E9:'>7:. *$*0.% 3>% 0#$% )'0$1*)025$% &3/4'$/$*0 $1.AV^%L3'$&:')1%.0:+2$.%2*+2&)0$%0#)0%.:.(
?9E'N9NIEE9:F'>7NAGIDG'AH'I??;8AKEAO;EI8'+C 4)0#7)<%)'.3%/)<%-$%.$$*%2*%)1$).%&311$( &$402-2'20<%03%Md%2.%*30%)..3&2)0$+%720#%)
:@?
< =
56789#,:>.G !7:?9DIDIG'B7:N7DIHA:?IGC'3IANGF'AH'98'79:EF'E7GIA8'GBAZI8K'>7:?9E'N9NIEE9:F'<AEE7<DIA8G'AH'87;D:ANBIEG'98>'7AGI8ANBIEG'98>'G;O.7NI>7:?9E'P7.
GI<;E9DIA8'9D'EAZ'X<Y'98>'BIKB'X=Y'?9K8IT<9DIA8C
:*2=:$% deK(Mn7`% /3'$&:'$AUI% a210:( 3>% 0#$% .20$% 3>% -'2.0$1% >31/)023*% 2*% Md )&#'31#<+12)% )*+% )0134#2&% 8).01202.AUV?UU
)''<%)''%4)02$*0.%720#%Md%#)5$%8$*$.%0#)0 #)5$% +$/3*.01)0$+% 0#)0% 0#$% -'2.0$1 ]$4310.% 3>% 4$1*2&23:.% )*$/2)% )*+% )*02(
$*&3+$%0#$%deK(Mn%N HoIJIH? HoI`O%31 >31/.% )-35$% 0#$% ')/2*)% +$*.)h720#2* -3+2$.% 03% 8).012&% 4)12$0)'% &$''.% )1$% 0#:.
0#$% deK(Mn% N HoIP? HoIPI`O% #$0( 0#$%')/2*)%':&2+)A%"#2.%2.%0#3:8#0%03%3&( '26$'<%03%-$%+:$%03%/31$%0#)*%&#)*&$A%
$13+2/$1.?%)%4)00$1*%2+$*02&)'%03%0#)0%.$$* &:1% -$&):.$% 0#$% ')/2*)% ':&2+)% 2.% 0#$
2*%&$'2)&%+2.$).$AUI?UH%"#2.%.013*8%)..3&2)( /3.0% 5:'*$1)-'$% &3/43*$*0% 3>% 0#$% +$1(
*9EIK898<F
023*% -$07$$*% .:.&$402-2'20<% 8$*$.% )*+ /)'($42+$1/)'%B:*&023*AUS?UJ
Md% )*+% X_c% 2.% 2/4310)*0% &'2*2&)''<% )*+ e$3*)1+%$0%)'A%#)5$%1$4310$+%)*%2*&1$).$+
4)0#34#<.23'382&)''<% 2*% 0#)0% 0#$1$% 2.% ) >1$=:$*&<%3>%/)'28*)*&2$.?%$.4$&2)''<%8).(
.013*8%&3*&31+)*&$%3>%0#$.$%073%+2.$).$. +##$/"+4&!')%$3,&*# 0132*0$.02*)'%'</4#3/).?%)*+%T3''2*%$0%)'A
2*% /3*3F<8302&% 072*.AU`% W:10#$1/31$? #)5$% 1$4310$+% )% .28*2E&)*0% 2*&1$).$% 2*
L9GD:AI8D7GDI89E'*98IH7GD9DIA8G
E1.0(+$81$$%1$')025$.%3>%-30#%Md%)*+%X_c *3*(d3+862*% '</4#3/).% 2*% 4)02$*0.
4)02$*0.%)1$%3>0$*%NS%4$1&$*0%03%J%4$1&$*0O R0%2.%*37%7$''%)&&$40$+%0#)0%/3.0?%2>%*30 720#% MdAU!?U^% K% &3/-2*$+% 1$013.4$&(
)>>$&0$+% 720#% 3*$% 31% 0#$% 30#$1% 3>% 0#$.$ )''?% Md% 4)02$*0.% #)5$% )*% )..3&2)0$+% 8).( 025$%.0:+<%>13/%-30#%0#$.$%813:4.%.:8(
+2.$).$.AUP 0132*0$.02*)'% )-*31/)'20<% 0#)0% 2.% &):.$+ 8$.0.% )% 4130$&025$% 13'$% >31% )% 8':0$*(>1$$
-<% 8':0$*% .$*.202520<AH`?HP?VJ% "#$% 4)0#3'( +2$0%)8)2*.0%8).0132*0$.02*)'%'</4#3/).A!I
38<%3>%0#$%X_c%)..3&2)0$+%720#%Md%)*+ d$153*$*%)*+%&3(7316$1.%1$4310$+%0#)0%H
0IGDAN9DBAEAKF
0#)0% 2*% 2.3')0$+% X_c% NX_c% :*)..3&2)0$+ 4$1&$*0% 3>% HHIS% 4)02$*0.% 720#% Md% +$5$'(
"#$% #2.03'38<% 3>% )*% $)1'<% .62*% '$.23* 720#% MdO% 2.% $..$*02)''<% 0#$% .)/$?% )'( 34$+%)%'</4#3/)%>13/%`%03%PH%<$)1.%)>0$1
N&'2*2&)''<%*3*5$.2&:')1O%2.%&#)1)&0$12F$+ 0#3:8#% 0#$% '$.23*% 2*% 0#$% ')00$1% 2.% :.:)''< 0#$%+2)8*3.2.%3>%MdA%G>%2*0$1$.0?%3*'<%073
-<% +$1/)'% 4)42'')1<% &3''$&023*.% 3>% *$:( /:&#%/31$%.$5$1$;%0#2.%)44'2$.%03%0#$%$42( '</4#3/).% 7$1$% 3>% 0#$% $*0$134)0#<(
0134#2'.% N/2&13)-.&$..$.O?% *$:0134#2'2& 0#$'2)'%&$''%+$1)*8$/$*0%).%7$''%).%03%0#$ )..3&2)0$+%0<4$?%7#$1$).%$28#0%7$1$%D(&$''
>1)8/$*0.?% 5)1<2*8% *:/-$1.% 3>% $3.2*3( &#)1)&0$1%3>%0#$%'</4#34')./)&<02&%2*E'( 0<4$% '</4#3/).% )*+% 3*$% 7).% :*&')..2(
4#2'.?%E-12*?%)*+?%)0%02/$.?%.$4)1)023*%3> 01)0$A% R*% )++2023*?% 0#$% +2.012-:023*% 3>% 0#$ E$+A% "#$% 4)02$*0.% 720#% Md% 0#)0% +$5$'(
0#$% 4)42'')1<% 024.% >13/% 0#$% 35$1'<2*8 8).0132*0$.02*)'% '$.23*% 2*% 0#$% ./)''% 2*0$.( 34$+%'</4#3/)%#)+%)+#$1$+%03%)%8':0$*(
$42+$1/2.% NW28A% J^(VOA% R*% )++2023*?% 2* 02*$%2.?%).%)%8$*$1)'%1:'$?%/31$%72+$.41$)+ >1$$%+2$0%'$..%.012&0'<%0#)*%4)02$*0.%720#3:0
.:&#%$)1'<%'$.23*.?%0#$%:44$1%)*+%/2++'$ 2*% &$'2)&% +2.$).$A%"#$% >:*&023*)'% &#)*8$. '</4#3/)A!H% ]$&$*0'<?% a2'B)/))% )*+% &3(
+$1/)'%-'33+%5$..$'.%)1$%.:113:*+$+%-< 2*% 0#$% -37$'% )*+% &'2*2&)'% .$=:$')$% $*( 7316$1.%1$4310$+%3*%0#$%1)0$%3>%/)'28*)*(
)%'</4#3#2.023&<02&% 2*E'01)0$%).%7$''%). &3:*0$1$+%2*%0#$%X_c%)..3&2)0$+%720#%Md &2$.% )*+% /310)'20<% 2*% 4)02$*0.% 720#% Md
.3/$%*$:0134#2'.%)*+%)*%3&&).23*)'%$3( )*+% 0#3.$% $*&3:*0$1$+% 2*% &$'2)&% +2.$).$ 720#% )% PI(<$)1% 434:')023*(-).$+% .0:+<A!`
.2*34#2'AU?!% K0% 02/$.?% $)1'<% '$.23*.% /)< )1$% .2/2')1% -:0% )8)2*% +2>>$1% 2*% +$81$$? "#$<% 1$4310$+% *3% +2>>$1$*&$% 2*% 35$1)''
-$%+2>E&:'0%31%2/43..2-'$%03%+2>>$1$*02)0$ 0#3.$% 2*% 0#$% ')00$1% -$2*8% /31$% .$5$1$A /)'28*)*&<%1)0$%2*%4)02$*0.%720#%Md%>13/
>13/% 0#3.$% 3>% '2*$)1% R8K% +2.$).$% N.$$ "#:.?%2*%Md%3*$%3-.$15$.%.0$)0311#$)%N`I 0#$% 8$*$1)'% 434:')023*;% #37$5$1?% 0#$1$
T#)4A%JVO?%0#$%-:''3:.%$1:4023*%3>%':4:. 4$1&$*0%03%PI%4$1&$*0%3>%4)02$*0.O?%)-*31( 7).%)*%2*&1$).$%2*%*3*(d3+862*%'</4#3(
$1<0#$/)03.:.%N.$$% T#)4A%HJVO?%-:''3:. /)' M(@<'3.$%)-.314023*%NHI%4$1&$*0%03%PP /).A%G>%2*0$1$.0?%0#$%/310)'20<%1)0$%>31%4)(
4$/4#2832+% N.$$% T#)4A% JSO?% 31% 0#$ 4$1&$*0% 3>% 4)02$*0.O?% )*+% 3&&).23*)'% )*$( 02$*0.% 720#% Md% 7).% '37$1% 0#)*% 2*% 0#$
*$:0134#2'(12&#% >31/% 3>% $42+$1/3'<.2. /2)%.$&3*+)1<%03%213*%31%>3')0$%+$E&2$*&<A 8$*$1)'%434:')023*A%R*%030)'?%0#$.$%.0:+2$.
-:''3.)% )&=:2.20)% N.$$% T#)4A% J!OA% "#$ R*%4)02$*0.%*30%0)62*8%+)4.3*$%31%1$')0$+ .:88$.0% 0#)0% 4)02$*0.% 720#% Md% )1$% )0% 2*(
#2.03'38<% 3>% 3'+$1% '$.23*.% .#37.% .:-( +1:8.?%0#$%')00$1%2.%:.:)''<%+:$%03%/)')-( &1$).$+?% )'-$20% '37?% 12.6% >31% '</4#3/)
$42+$1/)'% 5$.2&'$.% 0#)0%/)<%-$% 2/43.( .314023*A% _0:+2$.% :.2*8% $'$/$*0)'% +2$0. )*+%0#)0%0#2.%12.6%2.%*30%1$.012&0$+%03%$*0$1(
.2-'$% 03% +2>>$1$*02)0$% >13/% 30#$1% .:-( N.$$% c'$/$*0)'% )*+% G0#$1% M2$0% "#$1)4<O 34)0#<()..3&2)0$+%'</4#3/).A
$42+$1/)'% -:''3:.% $1:4023*.?% .:&#% ). 2*% 0#$%01$)0/$*0%3>%Md%#)5$% =:$.023*$+
-:''3:.% 4$/4#2832+?% $1<0#$/)% /:'02( 0#$%&1202&)'%13'$%)0012-:0$+%03%8':0$*%2*%0#$
$DB7:'!IG79G7G
>31/$?%-:''3:.%+1:8%$1:4023*?%)*+%4$/( 4)0#38$*$.2.% 3>% 0#2.% +2.$).$A% R*% )++2023*
4#2832+% 8$.0)023*2.A% R//:*39:31$.&$*0 03% 0#$% ./)''% 2*0$.02*)'% '$.23*?% 4)02$*0. R*% )++2023*% 03% &$'2)&% +2.$).$?% )0134#2&
'3&)'2F)023*% )*+% :'01).01:&0:1)'% .0:+2$. 720#% Md%#)5$%)*%2*&1$).$+%2*&2+$*&$% 3> 8).01202.?%)*+%4$1*2&23:.%)*$/2)%N.$$%X).( :@A
0132*0$.02*)'% L)*2>$.0)023*.O?% Md% 4)( 03.2.?%4$/4#2832+?%4$/4#2832+%8$.0)023( )-'$%4$123+.%3>%02/$%N>13/%J%/3*0#.%03%H
02$*0.% #)5$% )% #28#$1% 2*&2+$*&$% 3>% 30#$1 *2.?% $1<0#$/)% /:'02>31/$?% )*+% 5)123:. <$)1O?%1$+:&$%31%&3/4'$0$'<%$'2/2*)0$%0#$
):032//:*$% +2.$).$.% .:&#% ).% 0#<132+ 30#$1% +$1/)03.$.% &)*% -$% +2>>$1$*02)0$+ 1$=:21$/$*0%>31%/$+2&)023*%2*%/3.0?%-:0
+2.$).$?% 2*.:'2*(+$4$*+$*0% +2)-$0$.?% ':( $).2'<%3*%0#$%-).2.%3>%#2.03'382&%)*+%2/( *30% )''?% 4)02$*0.A% "#$% /3.0% $@0$*.25$
4:.% $1<0#$/)03.:.?% _Bs81$*% .<*+13/$? /:*3'382&% &120$12)A% e2*$)1% R8K% +2.$).$ $)1'<% .0:+<% -<% W1<% $0% )'A% #).% -$$*% &3*(
)*+% 5202'283AVI?!P?!S% "#2.% 41$+2'$&023*% >31 /)<% -$% /31$% +2>E&:'0% 03% +2>>$1$*02)0$ E1/$+% -<% .$5$1)'% 813:4.AHS% d37$5$1?% 20
)..3&2)0$+%):032//:*$%+2.$).$.%/)<%-$ &'2*2&)''<%)*+%#2.03'382&)''<?%-:0%20%2.%+2.( 2.%3*'<%0#$%5$1<%#28#'<%/3025)0$+%4)02$*0
+:$%03%0#$%#28#%>1$=:$*&<%3>%0#$%!AH%)*( 02*&025$% 2//:*3'382&)''<A% K% #28#% 2*+$@ 7#3% &)*% )+#$1$% 03% 0#$% +2$0?% 7#2&#% 1$(
&$.01)'%#)4'30<4$%2*%0#$.$%Md%4)02$*0.A!J 3>%.:.42&23*%2.%5$1<%#$'4>:'%2*%0#)0%$5$* =:21$.% &3:*.$'2*8% -<% )*% 2*+252+:)'% 7#3
Q$:13'382&% +2.$).$% #).% -$$*% 1$4310$+ 2*% 0#$% )-.$*&$% 3>% 412/)1<% '$.23*.?% Md 2.%5$1<%>)/2'2)1%720#%20.%:.$A
2*% 4)02$*0.% 720#% 2.3')0$+% &$'2)&% +2.$).$? &)*%-$%+2)8*3.$+%-).$+%3*%0#$%0<42&)'%2*
2*&':+2*8%$42'$4.<?%)0)@2)?%)*+%+$/$*02); 5253,-3:*+% 81)*:')1% R8K% +$43.20.% 2*
#37$5$1?% &3*E1/)023*% 3>% 0#$.$% E*+2*8. *31/)'()44$)12*8%.62*A &E7?78D9E'98>'$DB7:'!I7D'4B7:9NF
)7)20.%&3*E1/)023*%720#%')18$%$42+$/2( _0:+2$.% 2*% ./)''% *:/-$1.% 3>% Md% 4)(
3'382&%.0:+2$.A!V%_3/$%):0#31.%#)5$%413( 02$*0. #)5$% 2*+2&)0$+% 0#)0% $'$/$*0)'%+2(
43.$+% 0#)0% 4)02$*0.% 720#% Md% /)<% -$% )0 4%&+4*&-4
$0.% N&3/43.$+% 3>% >1$$% )/2*3% )&2+.?
#28#$1% 12.6% >31% 0#$.$% *$:13'382&% &3/4'2( #;EHA87G .#310(&#)2*% 43'<.)&&#)12+$.?% )*+% ./)''
&)023*.%+:$%03%'3*8(.0)*+2*8%2*8$.023*%3> )/3:*0.% 3>% 0128'<&$12+$.O% &)*% -$% 5$1<
8':0$*;% #37$5$1?% b2''.% )*+% &3(7316$1. M2)/2*3+24#$*<'%.:'>3*$%N+)4.3*$O?%.:'(
-$*$E&2)'%2*%)''$52)02*8%0#$%.62*%+2.$).$
>3:*+%*3%$52+$*&$%3>%2//:*$(/$+2)0$+ >3@3*$% N+2).3*$h*30% )5)2')-'$% 2*% 0#$
720#2*% )% >$7% 7$$6.A^H?^`% "#$% -$*$E&2)'
*$:13'382&% +2.$).$% 2*% 0#$21% $5)':)023*% 3> C*20$+% _0)0$.O?% )*+% .:'>)4<12+2*$% 413(
$>>$&0% 3*% 0#$% .62*% +2.$).$% /)<% -$
4)02$*0.%720#%MdA!U 52+$%413/40%2/4135$/$*0%2*%.</403/.
)$5$+%$5$*%2>%0#$%4)02$*0%2*8$.0.%')18$
\)02$*0.%720#%:*01$)0$+%&$'2)&%+2.$).$ )*+% .28*.% 3>% 0#$% +2.$).$A% _</403/.
)/3:*0.%3>%8':0$*A^H%C*>310:*)0$'<?%$'$(
#)5$% )'.3% -$$*% >3:*+% 03% #)5$% )*% 2*( /)<% )-)0$% 2*% ).% >$7% ).% P% #3:1.% 31% ).
/$*0)'% +2$0.% )1$% +2>E&:'0% 03% 03'$1)0$% >31
&1$).$+% >1$=:$*&<% 3>% -3*$% '3..A!!% \)( '3*8% ).% )% >$7% +)<.% )>0$1% 0#$% E1.0% 42''% 2.
'3*8% 4$123+.A% R*0$1$.02*8'<?% &3/4'$0$
02$*0.% 720#% Md% >1$=:$*0'<% &3*02*:$% 3* 0)6$*?% )*+% *$7% '$.23*.% *3% '3*8$1% $1:40
1$.3':023*%3>%0#$%.62*%'$.23*.%3>%Md%#).
8':0$*(&3*0)2*2*8% +2$0.% 720#% )% '3*8( )>0$1%H%03%`%+)<.%3>%01$)0/$*0A%c@)&$1-)(
)'.3%-$$*% 1$4310$+%-<% )+#$1$*&$%03%0#$
.0)*+2*8?% )'-$20% '37% 81)+$?% /)')-.314( 023*.%3&&:1%>13/%#3:1.%03%+)<.%)>0$1%&$.(
#28#(4130$2*?% :*'2/20$+% >)0?% '37(&)1-3(
023*A%M2%_0$>)*3%+$/3*.01)0$+%)%.28*2E( .)023*% 3>% 01$)0/$*0A% "#2.% 1$.43*.$% 03
#<+1)0$%+2$0%434:')12F$+%).%0#$%YK062*.
&)*0'<% 1$+:&$+% -3*$% /2*$1)'% +$*.20<% 2* 0#$1)4<% 7).?% >31% )% '3*8% 02/$?% 0#$% /3.0
M2$0AZ^P% W:10#$1% .0:+2$.% )1$% *$$+$+% 03
4)02$*0.% 720#% Md% 3*% 8':0$*(&3*0)2*2*8 2/4310)*0%$'$/$*0%2*%/)62*8%)% +2)8*3(
&3*E1/%0#2.%1$4310A
+2$0.A!^% "#$.$% E*+2*8.% .:88$.0% 0#)0% 4)( .2.A%"#$%41$>$11$+%01$)0/$*0%>31%)*%)+:'0
02$*0.%720#%Md%-$%>3''37$+%&'3.$'<%)*+ 2.%+)4.3*$%)0%)*%2*202)'%+3.)8$%3>%HII%03
0#3.$% 3*% 8':0$*(&3*0)2*2*8% +2$0.% -$ HJI% /8g+)<% N0#2.% :.:)''<% &)*% -$% 0)6$* V&\'%&(&%&-/&#
.&1$$*$+% >31% 430$*02)'% +$&1$).$% 2*% -3*$ 3*&$%)%+)<OA%K*%3&&).23*)'%4)02$*0%/)<
+$*.20<A% R>%+$&1$).$+% -3*$%/2*$1)'%+$*( 1$=:21$% PII% 03% SII% /8% 3>% +)4.3*$% >31 4B7'H;EE':7H7:78<7'EIGD'HA:'9EE'<B9ND7:G'
.20<%2.%>3:*+?%4)02$*0.%.#3:'+%-$%$*&3:1( 2*202)'%2/4135$/$*0A% \)02$*0.% .#3:'+% -$
IG'9P9IE9OE7'9D'ZZZC>IK?bC<A?C
)8$+%03%-$82*%)%8':0$*(>1$$%+2$0A% 2*.01:&0$+% 03% 0)6$% 0#$% /2*2/)'% +3.$% 1$(
=:21$+%03%.:441$..%.28*.%)*+%.</403/.A SA M:#12*8% eK[% M$1/)0202.% #$14$02>31/2.A
Q30%)''%4)02$*0.%1$=:21$%+)2'<%01$)0/$*0; O8P8 &[``J?%H!^P
!"((&%&-4"+,'!"+L-$#"# 2*%1)1$%&).$.?%`J%/8%7$$6'<%2.%.:>E&2$*0A ^A 5)*% +$1% L$$1% lD[% X1)*:')1% +$43.20.% 3>
2//:*38'3-:'2*.%2*%0#$%.62*%3>%4)02$*0.
Md% /)<% -$% &3*>:.$+% 720#% *:/$13:. _:'>)4<12+2*$?%2*%)%+3.)8$%3>%HAI%03%HAJ%8 720#% +$1/)0202.% #$14$02>31/2.[% K*
30#$1%&3*+2023*.%-$&):.$%3>%20.%4'$3/31( +)2'<?%2.%4)102&:')1'<%:.$>:'%2*%4)02$*0.%2*( 2//:*39:31$.&$*0%.0:+<A%@+'O'6&+!"-/%
4#2&% /)*2>$.0)023*.% )*+% 0#$% 3&&).23*)' 03'$1)*0% 3>% +)4.3*$?% 2*% $'+$1'<% 4)02$*0.? %![S^P?%H^V^
)*+% 2*% 0#3.$% 720#% &)1+234:'/3*)1< HHA L)16.% l?% _#:.0$1% _?% b)0.3*% Kl[% _/)''
')&6% 3>% +2)8*3.02&% '$.23*.% ND3@% J^(HOA -37$'%&#)*8$.%2*%+$1/)0202.%#$14$02>31(
Q$:1302&% $@&312)023*.?% $&F$/)?% 4)4:')1 413-'$/.A% "#$% 4#)1/)&3'38<?% /$&#)( /2.A G",#&- $[H`!I?%H^VV
:102&)12)?% 01)*.2$*0% )&)*0#3'<02&% +$1/)( *2./N.O% 3>% )&023*?% )+5$1.$% $>>$&0.?% )*+ HSA W1<%e%$0%)'[%T'$)1)*&$%3>%.62*%'$.23*.%2*
/3*20312*8%3>% +)4.3*$% )1$% +2.&:..$+% 2* +$1/)0202.% #$14$02>31/2.% )>0$1% 8':0$*
T#)4A%``VA%R0%2.%2/4310)*0%03%6*37%0#)0 720#+1)7)'A G",#&- ![`!!?%H^UP
#*+&'2)( HJA i)0F% _R% $0% )'[% de(K![% K% 8$*$02&% '2*6
*3*.0$132+)'% )*02(2*9)//)031<% +1:8.
!-@@"*".,-&'(!-&+.%#-#(%@( -$07$$*% +$1/)0202.% #$14$02>31/2.% )*+
3>0$*% $@)&$1-)0$% Md?% $5$*% 2*% 4)02$*0. 8':0$*(.$*.2025$% $*0$134)0#<A% O' ;%3,
!"*$&,-,-#(G"*D",-@%*$-# 0)62*8%+)4.3*$A^I F,L&.- "![`^UU?%H^U`
,"-#'.)/ H^A _)1+<% L% $0% )'[% c42+$1/)'% 01)*.8':0)/2(
&<J7?9 *).$% N"X).$% PO% 2.% 0#$% ):03)*028$*% 3>
+DANI<'>7:?9DIDIG LE;D78.(:77'!I7D +$1/)0202.% #$14$02>31/2.A% O' MN1' P&(
!("[USU?%`II`
)9N;E9:';:DI<9:I9 #55#0N,CE,NL#,MK<DD,6EN#MN6E# "#$1$%2. P^A L)12$00)%c% $0%)'[%K%*$7% /3+$'%>31%+$1(
-7;:ADI<'7Q<A:I9DIA8G *3%+3:-0%0#)0%0#$%2*0$.02*)'%'$.23*%2*%Md /)0202.% #$14$02>31/2.% 0#)0% :.$.% deK(
3;EEA;G'N7?NBIKAI> Mn!%01)*.8$*2&%QGM%/2&$A%O';%3,'F,L&.-
1$.43*+.% 03% +2$0)1<% 8':0$*% 720#+1)7)'A !!'[HI^I?%`IIS
)7?NBIKAI>'K7GD9DIA8IG "#$% 02/$% &3:1.$% 3>% 0#$% 1$.43*.$% 2* S`A e$3*)1+%l%$0%)'[%X':0$*%&#)''$*8$%2*%+$1(
,I879:'I??;8AKEAO;EI8'+'>7:?9DAGIG )+:'0.% 720#% Md% 2.% 0#$% .)/$% ).% 0#)0% 2* /)0202.% #$14$02>31/2.A% H' M,0%' O' P&(
+DANI<'>7:?9DIDIG )+:'0.%720#%&$'2)&%+2.$).$A &*%[!HV?%H^!P
!HA d$153*$*% iW% $0% )'[% e</4#3/)% 2*
34*)%54$ 4)02$*0.% 720#% +$1/)0202.% #$14$02>31/2.
#<9OI7G #55#0N,CE,NL#,MQ6E,/6M#<M# _012&0% )+#$1( )*+%0#$21%E1.0(+$81$$%1$')025$.A%@+'O'6&+)
$*&$%03%)%8':0$*(>1$$%+2$0%72''?%)>0$1%5)12( !"-/% !"$[!`?%`IIJ
:@!
!`A a2'B)/))%L%$0%)'[%L)'28*)*&<%)*+%/310)'( !^A M2% _0$>)*3% L% $0% )'[% D3*$% /)..% )*+ /$*0)'% +2$0% 720#% )*+% 720#3:0% 8':0$*
20<% 2*% 4)02$*0.% 720#% &3$'2)&% +2.$).$% )*+ /$0)-3'2./%2*%+$1/)0202.%#$14$02>31/2.A 3*% +2.$).$% )&02520<% 2*% +$1/)0202.% #$1(
+$1/)0202.%#$14$02>31/2.[%PI(<$)1%434:')( 630'63.'K#3 ''[`HP^?%H^^^ 4$02>31/2.A O' F,L&.-' 6&+!"-/% ()[HUJ?
023*%-).$+%.0:+<A%630'63.'K#3'&%[PUS?%`IIV ^HA i)+:*&$%M\%$0%)'[%"#$%$>>$&0%3>%)*%$'$( H^^H
6-2'(%T'& 0$1*)'%+2.1:4025$%>31&$.?%&3*0)2*%)%&3/(
4'$@%DLu%&3/43.$+%3>%)%813:4%3>%.4$(
32,,$#+
#$%&'()1+X3%3 &2)'2F$+% &3/43*$*0.% 0#)0% &3/-2*$
038$0#$1% 03% >31/% )*ĸ*8% &3/4'$@$.
+4'+'L,+-/&'
NW28A%VI(HOA%K0%0#$%/3.0%.:4$1231%).4$&0
=J++13* 3>% 0#$% DLu?% 6$1)02*(&3*0)2*2*8% 2*0$1(
/$+2)0$%E')/$*0.%3>%0#$%-).)'%&$''%&<03(
*C')7D7:'*9:I8=API<B .6$'$03*% 2*.$10% :43*% $'$&013*% +$*.$
&;K787'+C'39;7: &3*+$*.)023*.% 3>% 0#$% -).)'% &$''% 4')./)
/$/-1)*$?%0$1/$+%*&!3(&.!/./!&.A%K*(
ĸ*8% E')/$*0.% .4)*% 0#$% ')/2*)% ':(
(9?IEF'AH'I8B7:ID7>'K78A>7:?9DAG7G'<B9:.
R*#$120$+%$42+$1/3'<.2.%-:''3.)% NcDO% 2.%) &2+)%&3**$&02*8%#$/2+$./3.3/$.%720#
9<D7:IJ7>'OF'OEIGD7:I8K'I8':7GNA8G7'DA'
>)/2'<%3>%+2.$).$.%0#)0%#)5$%0#$%&3//3* 0#$% ')/2*)% +$*.)% )*+% )*ĸ*8% E')(
?I8A:'D:9;?9C
>$)0:1$% 3>% -'2.0$12*8% 2*% 1$.43*.$% 03% /2'+ /$*0.A% K0% 0#$% /3.0% 2*>$1231% ).4$&0% 3>
0#$%DLu?%0<4$%aRR%&3'')8$*(&3*0)2*2*8? 3EIGD7:I8K'E7P7E'<9D7KA:IJ7G'9G'GI?NE7QM'
01):/)AH%\)02$*0.%720#%cD%&)*%.#37%-'2.(
)*ĸ*8% E-12'.% $@0$*+% >13/% 0#$% ')/( B7?I>7G?AGA?9EM'R;8<DIA89EM'98>'>FG.
0$12*8% 2*% 0#$% >31/% 3>% ./)''% 5$.2&'$.% 31
2*)%+$*.)%2*03%0#$%4)42'')1<%+$1/2.%)*+ D:ANBI<'G;O.DFN7GC
')18$1% -:'')$?% 7#2&#% &)*% 3&&:1% 3*% -30#
0#$%&:0)*$3:.%.:1>)&$.%).%7$''%).%3*%0#$ &3/-2*$%720#%0#$%')/2*)%+$*.)%)*+%)*( /;D987A;G'I8PAEP7?78D'P9:I7G'H:A?'EA<9E.
/:&3.)'%02..:$.A%"#$%>1)82'20<%3>%0#$%.62* ĸ*8% 4')=:$.?% 01)442*8% 2*0$1.0202)' IJ7>'DA'ZI>7GN:79>'OEIGD7:I8KM'>7N78>I8K'
)*+% /:&3.)% )*+% 0#$% 01):/)02&% 413+:&( &3'')8$*% E-12'.A% "#:.?% 0#$% &:0)*$3:. A8'G;O.DFN7C
023*% 3>% 4)2*>:'% -'2.0$1.% )1$% .#)1$+% -<% )'' DLu% &3**$&0.% 0#$% $@0$*.25$% -).)'% &$'' &QD:9.<;D987A;G'I8PAEP7?78D'P9:I7G'H:A?'
cD% &).$.A% d37$5$1?% 0#$% +2.012-:023*% 3> &<03.6$'$0)'% *$07316% 720#% 0#$% )-:*( 8A87'DA'G7P7:7EF'>7OIEID9DI8K'A:'E7DB9EC
0#$%2*53'5$/$*0?%0#$%+$40#%3>%-'2.0$1%>31( +)*0% *$07316% 3>% 2*0$1.0202)'% &3'')8$*
$:ANB9:F8QM'D:9<B79M'7GANB9K;GM'7F7GM'
/)023*?%)*+%0#$%.$5$120<%3>%0#$%-'2.0$12*8 E-12'.%2*%0#$%+$1/2.AH^?`I
D77DBM'89IEGM'98>'B9I:'<98'O7'I8PAEP7>M'
413&$..%5)12$.%720#%0#$%+2>>$1$*0%cD%.:-( >7N78>I8K'A8'G;O.DFN7C
0<4$.% )*+% +$4$*+.% 3*% 0#$% :*+$1'<2*8 /,"-"/+,'("-!"-L#
#$120)-'$% /3'$&:')1% +$>$&0A% cD% +2.$).$. !I9K8AGIG'IG'?9>7'OF'I??;8Ad;A:7G.
)'.3% 5)1<% 2*% 0#$% 7)<% 2*% 7#2&#% -'2.0$1$+ K%&')..2E&)023*%3>%cD%2.%/)+$%-).$+%3* <78<7'98>kA:'7E7<D:A8'?I<:AG<ANF'HAE.
)1$).% #$)'A% "#$% 73:*+% 1$4)21% 1$.43*.$. 0#$% :'01).01:&0:1)'% '$5$'% 720#2*% 7#2&# EAZ7>'OF'!-+'989EFGIGC
)1$% 3>0$*% )-*31/)'% )*+% &)*% $5$*0:)0$ 0#$%&'$)5)8$%4')*$%3>%0#$%-'2.0$1%3&&:1.A
2*03%
*2&%$13.23*.?%#<4$10134#2&%81)*( cD% #).% -$$*% 01)+2023*)''<% &')..2E$+% )&(
&31+2*8% 03% 0#$% '$5$'% 3>% DLu% .$4)1)023*
&NI>7:?AEFGIG'3;EEAG9'#I?NE7Q
:')023*% 02..:$?% .&)112*8?% 31% $5$*% 2*5).25$
&)1&2*3/)A%K'0#3:8#%0#$%/2'+$1%cD%.:-( 3*% 01)*./2..23*% $'$&013*% /2&13.&34< cD_%2.%)%813:4%&#)1)&0$12F$+%-<%2*01)$42(
0<4$.% )1$% )..3&2)0$+% 720#% )% *31/)' N"cLO%2*03%.2/4'$@?%B:*&023*)'?%)*+%+<.( +$1/)'%-'2.0$12*8%)*+%2.%)..3&2)0$+%720#
'2>$.4)*%)*+%'200'$%31%*3%2*0$1*)'%2*53'5$( 0134#2&% .:-(0<4$.% NW28A% VI(`OA% d37$5$1? 6$1)02*% 8$*$% /:0)023*.A% "#$% +2.$).$
/$*0?%0#$%/3.0%.$5$1$?%1$&$..25$'<%2*#$1( )% >3:10#% &)0$831<% #).% -$$*% 41343.$+? 4#$*30<4$.% 1)*8$% >13/% /2'+% 03% .$5$1$
20$+%>31/.%)1$%/:02')02*8?%/:'02318)*%+2.( #$/2+$./3.3/)'% cD?% 7#2&#% 0)6$.% 2*03 )/3*8%+2>>$1$*0%.:-813:4.AV^%"#$%0#1$$
31+$1.%0#)0%0#1$)0$*%-30#%0#$%=:)'20<%)*+ )&&3:*0%4)02$*0.%7#3%.#37%2*01)$42+$1( /3.0% &3//3*% cD_% 0<4$.% )1$% +3/2(
'$*80#%3>%'2>$A`?P /)'% -'2.0$12*8% B:.0% )-35$% 0#$% -).)' *)*0'<%2*#$120$+%)*+%2*&':+$%8$*$1)'2F$+
4')./)% /$/-1)*$% N.$$% W28A% VI(`cOAVU Ni3$-*$1O?% '3&)'2F$+% Nb$-$1(T3&6)<*$O?
K'0#3:8#% 01)+2023*)''<% 0#$% +2)8*3.02& )*+% #$14$02>31/% NM37'2*8(L$)1)OA
&4"$,$L\'+-!')+40$L&-&#"# Y83'+% .0)*+)1+Z% >31% 813:42*8% cD% #). "#$1$% )1$% .$5$1)'% :*&3//3*% 5)12$02$.?
$P7:PI7Z -$$*% $'$&013*% /2&13.&34<?% 2//:*3( 7#2&#% 2*&':+$% 0#$% cD_% G8*)% 5)12)*0?
/)442*8% 3>% -).$/$*0% /$/-1)*$% )*02( cD_%.:4$1E&2)'2.?%)*+%cD_%720#%/300'$+
cD%)12.$.%>13/%+$>$&0.%3>%)00)&#/$*0%3> 8$*.%).%52$7$+%-<%2*+21$&0%2//:*39:3( 428/$*0)023*%N.$$%")-'$%VI(HOA
-).)'% 6$1)02*3&<0$.% 03% 0#$% :*+$1'<2*8 1$.&$*&$% NRMRWO% &)*% )'.3% -$% =:20$% :.$>:'
+$1/2.% N.$$% T#)4A% JHOA% "#$.$% +$>$&0. 2*% +2.02*8:2.#2*8% .:-(0<4$.% 3>% cDA 7#E#9<D6O#/,#H6/#9KCDPM6M,=8DDCM<,M6K.
&)*% )12.$% >13/% 2*.2+$% 0#$% 6$1)02*3&<0$ b20#2*% $)&#% 3>% 0#$.$% 813:4.?% 0#$1$% )1$ HD#^ K'.3%6*37*%).%0#$%_/&5,&+'L"+3",-?
4')./)% /$/-1)*$% 31% $@01)&$'':')1'<% 2* .$5$1)'% +2.02*&0% 0<4$.% 3>% cD% -).$+% 3* 8$*$1)'2F$+%cD_%.#37.%)*%3*.$0%3>%-'2.(
0#$% +$1/)'($42+$1/)'% -).$/$*0% /$/( &'2*2&)'?% 8$*$02&?% #2.03'382&?% )*+% -23( 0$12*8% )0% -210#% 31% )0% ')0$.0% +:12*8% $)1'<
-1)*$% F3*$% NDLuOA% "#$% $023'38<% )*+ &#$/2&)'% $5)':)023*AV!% "#$.$% E*+2*8. 2*>)*&<A%"#$%#)*+.?%>$$0?%)*+%$@01$/202$.
4)0#38$*$.2.% 3>% cD% &)**30% -$% :*+$1( )1$% .://)12F$+% 2*% 0#$% >3''372*8% .$&( :.:)''<%.#37%0#$%/3.0%2*53'5$/$*0A%e$(
.033+% 720#3:0% )*% )441$&2)023*% 3>% 0#$ 023*.%N")-'$%VI(HOA .23*.%3>0$*%#$)'%720#%43.0(2*9)//)031<
:@:
56789#,G@.; #<B7?9DI<' AH' DB7' <A?NA878DG' AH' DB7' >7:?9E.7NI>7:?9E
O9G7?78D'?7?O:987'A8'DB7'E7HD'<A?N9:7>'ZIDB';ED:9GD:;<D;:9E'9NN79:98<7
AH'O9G7?78D'?7?O:987'?A:NBAEAKI<'78DIDI7G'A8'DB7':IKBDC'3)^a_'['O;EEA;G
N7?NBIKAI>'98DIK78'^a_'V!C
#<4$1(% 31% #<43428/$*0)023*% )*+?% )'( .#3:'+% -$% *30$+% 0#)0% 7#$*% 4)02$*0.% )1$ "#2.%+2.$).$%2.%0#$%/3.0%&3//3*%>31/%3>
0#3:8#% 3&&).23*)'% )0134#<% )*+% /2'2) <3:*8%)*+%.#37%)%8$*$1)'2F$+%-'2.0$12*8? cD% )*+% 3>0$*% 41$.$*0.% +:12*8% 2*>)*&<% 31
&)*% 3&&:1?% 0#$<% )1$% 1)1$% )*+% /:&#% '$.. 0#2.%#$14$02>31/%4)00$1*%/)<%*30%-$%.$$*A '+#33+A% G&&).23*)''<?% 20% 41$.$*0.% 2*
>1$=:$*0% 0#)*% 2*% cD% #$14$02>31/2.A% \)'( "#$1$>31$?%20.%)-.$*&$%.#3:'+%*30%-$%:.$+ $)1'<%)+:'0#33+?%.:&#%).%7#$*%-'2.0$1.%)1$
/)1(4')*0)1%#<4$16$1)03.2.%)*+%$13.23*. ).%)%-).2.%03%$@&':+$%0#2.%cD%.:-(0<4$A%cD *30$+% 3*% 0#$% >$$0% )>0$1% /)1*8% +:12*8
/)<% -$% 41$.$*0% NW28A% VI(POA% "#2&6$*2*8 #$14$02>31/2.% 3>0$*% .#37.% *)2'% 2*53'5$( /2'20)1<%.$152&$A%R0%2.%.4$&:')0$+%0#)0%0#$1$
3>% 0#$% .3'$.% 2.% &3//3*% -:0% 3>0$*% +3$. /$*0?%)*+%-'2.0$12*8%2.% *30% :*&3//3*'< )1$%)%*:/-$1%3>%:*+2)8*3.$+%&).$.%3>%0#2.
*30% 41$.$*0% :*02'% ')0$1% '+#33+A% "#$ #$/311#)82&A% R*% 0#2.% +2.$).$?% *)2'.% /)< >31/% 3>% cD?% ).% 20% &)*% -$% /2'+% $*3:8#% 03
31)'%/:&3.)%.3/$02/$.%.#37.%/2'+%$13( -$&3/$%.#$+%)*+%/)<%1$(8137%720#%+<.( $.&)4$%1$43102*8%31%+$0$&023*%+:12*8%&'2*2(
.25$% )&02520<?% -:0% 0#2.% :.:)''<% 2/4135$. 0134#<A%R*0$1$.02*8'<?%)'0#3:8#%#$)0%$@)&( &)'%52.20.A%d<4$1#2+13.2.%3>%0#$%4)'/.%)*+
720#%2*&1$).2*8%)8$A%"#$1$%2.%*30%.$5$1$ $1-)0$.% 0#$% -'2.0$12*8% 2*% 30#$1% cD_% .:-( .3'$.% 2.% )% &3//3*% )..3&2)023*A% D'2.0$1.
81370#%1$0)1+)023*%2*%0#2.%cD%.:-(0<4$A 0<4$.?%20%+3$.%*30%)44$)1%03%#)5$%)%/)B31 &)*% 3&&).23*)''<% -$&3/$% .$&3*+)12'<% 2*(
2/4)&0%2*%cD%#$14$02>31/2.A%d<4$16$1)03( >$&0$+A% \3.0(2*9)//)031<% 428/$*0)1<
#H6/#9KCDPM6M, =8DDCM<, L#9H#N65C9K6M .2.%3>%0#$%4)'/.%)*+%.3'$.%3>0$*%+$5$'34. )-*31/)'202$.%3&&:1%720#%0#2.%5)12)*0?%-:0
cD% #$14$02>31/2.% 2.% )'.3% 6*37*% ).% 0#$ -$82**2*8% 2*% $)1'<% '+#33+% )*+% &)* /2'2)% )*+% .&)112*8% ).% )% 1:'$% )1$% )-.$*0A
6/`%3,0)P&"+"'S/+!'/S'M@KA%R0%41$.$*0.%)0 41381$..%03%&3*9:$*0%6$1)03+$1/)%3>%0#$ D'2.0$12*8%)&02520<%:.:)''<%>3''37.%)1$).%3>
-210#%)*+?%'26$%0#$%i3$-*$1%5)12)*0?%20%#). 4)'/.%)*+%.3'$.A%"#$.$%&)*%-$%=:20$%4)2*( 01):/)?% 720#% #)*+.% )*+% >$$0% -$2*8% 0#$
)%8$*$1)'2F$+%+2.012-:023*A%"#$%M37'2*8( >:'?% )*+?% 3&&).23*)''<?% 2*0$1>$1$*&$% 720# /3.0% &3//3*?% )*+% 0#$% .&)'4% -$2*8% 0#$
L$)1)% >31/% 2.% 1$8)1+$+% ).% 0#$% /3.0% .$( )/-:')023*% #).% '$+% 03% 9$@:1)'% &3*01)&( '$).0% &3//3*A% L2'+% 31)'% $13.23*.% )1$
5$1$% 3>% 0#$% cD_% .:-(0<4$.% NW28A% VI(SOA% R0 0:1$.A% G&&).23*)''<?% 2*53'5$/$*0% 3>% 0#$ 41$.$*0% 3*'<% 1)1$'<% )*+% :.:)''<% 1$.3'5$
+2>>$1.% >13/% 0#$% i3$-*$1% 5)12)*0?% #37( $.34#)8:.% 2*% cD% #$14$02>31/2.?% 1)*82*8 720#%2*&1$).2*8%)8$A%Q)2'%2*53'5$/$*0%2.
$5$1?%2*%0#)0%0#$%31)'%/:&3.)%2.%/31$%3>( >13/% $13.23*.% 03% 4<'312&% )01$.2)?UI% #). 1)1$%720#%0#2.%cD%.:-(0<4$A
0$*% 2*53'5$+?% 3&&).23*)''<% .#372*8% $@( -$$*% 1$4310$+A% "#$% :44$1% 1$.421)031<
0$*.25$%$13.23*.A% L2'2:/%>31/)023*%/)< 01)&0%&)*%)'.3%-$%)>>$&0$+?%2*&':+2*8%')( <//6N6CE<D, F<96<ENM, C5, #H6/#9KCDPM6M
.3/$02/$.% 3&&:1% 2*% 2*>)*&<% 2*% 4)02$*0. 1<*8$)'% 2*53'5$/$*0AUH% Q)0)'% 0$$0# =8DDCM<,M6KHD#^ N_$$ ")-'$%VI(HO
720#% 0#2.% .:-(0<4$A% d37$5$1?% 0#2.% 43.0( #)5$% -$$*% +$.&12-$+% 2*% )% >$7% 4)02$*0.
73:*+% 4#$*3/$*3*% :.:)''<% 1$.3'5$. 720#%cD%#$14$02>31/2.A ;.$),/#*37&$&0<233*&"01$#.3,=0*40>+%"' G*(
')0$1% 2*% '+#33+A% "#$% +2.$).$% 1$&$25$+ .$0% 3>% cD_% 3>% G8*)% 2*% 2*>)*&<% 2.% &3/(
20.%*)/$%+:$%03%0#$%.43*0)*$3:.%)44$)1( DC0<D6O#/,#H6/#9KCDPM6M, =8DDCM<,M6K. /3*% 720#% .$).3*)'% -'2.0$12*8% N.://$1O
)*&$%3>%813:4$+%31%Y#$14$02>31/Z%-'2.0$1.A HD#^ e3&)'2F$+% cD_% 2.% 0#$% /2'+$.0% >31/ 3*% 0#$% )&1)'% )1$).A% _/)''% #$/311#)82&
"#$.$% 3&&:1% 3*% 0#$% 01:*6% )*+% 413@2/)' 3>% cD% )*+% 2.% 3>0$*% 1$>$11$+% 03% ).% 0#$ )*+% .$13:.% -'2.0$1.% 3&&:1% 412/)12'<% 3*
$@01$/202$.% )*+% #$)'% 720#3:0% .&)112*8A% R0 a&5&+);/#2"T,&'.$5)-T1&'/S'M@K%NW28A%VI(JOA 0#$%$@01$/202$.A%d$)'2*8%3&&:1.%720#3:0
:@G
5$11:&3:.% 4)4:'$.% )1$% )'.3% &#)1)&0$12.02&A
L2'+% 31)'% /:&3.)'% 2*53'5$/$*0% /)<% -$
41$.$*0% 2*% 2*>)*&<A% "#2.% &3*+2023*% 2.% +2.(
02*&0% >13/% 0#$% ')18$% /$')*3&<02&% *$52?
7#2&#%&)*%-$%.$$*%2*%)''%0#1$$%cD%0<4$.AU`
56789#,G@.! /B9:9<D7:IG.
DI<'OEIGD7:'HA:?9DIA8'A8'D:;8=
98>'9:?'I8'N9DI78D'ZIDB'7NI>7:.
56789#,G@.A fI>7GN:79>' OEIGD7:I8K' I8' 98' I8. ?AEFGIG'O;EEAG9'GI?NE7Q'B7:N7DI.
:@4 H98D'ZIDB'K787:9EIJ7>'7NI>7:?AEFGIG'O;EEAG9'GI?NE7QC HA:?IGC
56789#,G@." )7:IA:IT<I9E
7:AGIA8G'98>'BFN7:D:ANBI<'K:98.
;E9DIA8'DIGG;7'I8'9'N9DI78D'ZIDB
R;8<DIA89E'7NI>7:?AEFGIG'O;EEAG9
?IDIGC
:#*/(=.C'#40).+#12*(1*/=D
U"<*2")*2=W
M.1"$$*).<-.&(-5.)*.,7.L:3.<&) H2X3%U"+,'Y")`
-7"+#$-.A:A3."'<&+#$3.
...1"$.2&'-.*&).*)0-2.5#(*25-2( a,3U"((%-Ib,"T(1$2Xb,1(,)%+%"c
"$5.*)0-2.'"<*2")*2=.6"'&-(.
M.<#*/(=.(&(/#1#*&(.*2.$*$J0-"'#$4 a,-"%+3b,'X'3b,)JU13"b
"(.$--5-5.)*.-6"'&")-.
...'-(#*$(.#$./*()/&<-2)"'.N,L: ,,,2"%(b,T''T2,%-V1+V'&c
"$-+#"."$5.+"'$&)2#)#*$
.../")#-$)(.)*.2&'-.*&).8AA
:#*/(=.C-'-1)2*$.+#12*(1*/=D
:#*/(=.C#++&$*%'&*2-(1-$).
1"$.(0*I.1'-"6"4-./'"$-3.
+#(12*(1*/=D.1"$.(0*I.1'-"6"4-.
1'&+/-5.)*$*%#'"+-$)(3.
/'"$-."$5.5-%-1)#6-.-7/2-((#*$.*%
"<$*2+"'.0-+#5-(+*(*+-(.
L:."((*1#")-5./2*)-#$(
"$5."$10*2#$4.%#<2#'(
,H>."$"'=(#(."$5.4-$-)#1.1*&$(-'#$4W
M./")#-$)."$5.%"+#'=.+-+<-2(.,H>."$"'=\-5
M.1"$.(0*I.(/-1#%#1.,H>.5-%-1)
M.&(-%&'.%*2.%"+#'=./'"$$#$4./2-$")"'.5#"4$*(#(
"$5.%&)&2-.+*'-1&'"2.)0-2"/=
N2'("$X`
a,3J$$1(T,d1J-&,U"(' "-&,-JT(%T%1-e,%-3T(JUT,Z")%+X
a,T('"T,%-Z'UT%1-b,"-')%" "-&,'YT("UJT"-'1J3
&%3'"3',T2(1JI2,)J+T%.&%3U%$+%-"(X,"$$(1"U2
a,%)$+')'-T"T%1-,1Z,)1+'UJ+"(,T2'("$%'3
%-,T2',ZJTJ('
56789#,G@.;? +NN:A9<B'DA'7NI>7:?AEFGIG'O;EEAG9'X&3Y'N9DI78DGC'+'<A?NE7D7'BIGDA:FM'I8<E;>I8K'H9?IEF'BIGDA:F'98>':7PI7Z'AH'GFGD7?GM'IG'7GG78DI9EC')BFGI<9E'7Q9?.
I89DIA8'<98'N:API>7'I?NA:D98D'<E;7GM'98>'E9OA:9DA:F'P9E;7G'<98'B7EN'I>78DIHF'9GGA<I9D7>'987?I9'98>'?9E8;D:IDIA8C'&E7<D:A8'?I<:AG<ANF'98>kA:'I8>I:7<D'I??;8Ad;A:7G.
<78<7'?I<:AG<ANF'IG':7W;I:7>'HA:'>I9K8AGIGC'!-+'989EFGIG'IG'B7ENH;E'HA:'>7D7:?I8I8K'N:AK8AGIG'98>'H9?IEF'NE988I8KC'4B7:9NF'IG'?9I8EF'G;NNA:DIP7C'479<BI8K'98>'ZA:=.
I8K'ZIDB'8;:GI8K'GD9HH'98>'7GN7<I9EEF'H9?IEI7G'IG'<:IDI<9EM'9G'IG'I8D7:>IG<INEI89:F'I8D7:9<DIA8G'ZIDB'ADB7:'GN7<I9EDI7G'I8'DB7'D:79D?78D'AH'7QD:9.<;D987A;G'<A?NEI<9DIA8GC
/3/'['<A?NE7D7'OEAA>'<7EE'<A;8DU'!Q'['>I9K8AGIGU'%!&3'[':7<7GGIP7'>FGD:ANBI<'7NI>7:?AEFGIG'O;EEAG9U'#//'['GW;9?A;G'<7EE'<9:<I8A?9C
0<4$% Ra% &3'')8$*% 73:'+% '3&)'2F$% 03% 0#$ >)/2'<% 3>% +2.$).$.A% T3*&:11$*0% )+( L787DI<'/A;8G7EI8K
9331A% R*% McD?% 0<4$% aRR% &3'')8$*% )*+ 5)*&$.% 2*% 3:1% 6*37'$+8$% 3>% 0#$% -23(
D\`PI%73:'+%'3&)'2F$%03%0#$%133>%3>%0#$ &#$/2&)'% .01:&0:1$% )*+% .:41)/3'$&:')1 MQK% /:0)023*% )*)'<.$.% &)*% -$% $@(
-'2.0$1A%"#$%.4$&2E&%)-.$*&$%31%41$.$*&$ )..$/-'<% 3>% DLu% 4130$2*.% #)5$% -30# 01$/$'<%#$'4>:'%03%cD%4)02$*0.A%"#$%4138(
3>%.0)2*2*8%720#%)%4)102&:')1%)*02-3+<%2* >)&2'20)0$+% )*+% &3/4'$/$*0$+% 0#$% /3( *3.02&%-$*$E0%03%0#$%4)02$*0%&)*%3>0$*%-$
>13F$*%.$&023*.%3>%2*0)&0%431023*.%3>%4)( '$&:')1% -23'38<% .0:+2$.A% M$.420$% 0#$.$ #28#'<% .28*2E&)*0A% W31% $@)/4'$?% ]McD
02$*0% .62*% 825$.% 2/4310)*0% &':$.% 03% 0#$ )+5)*&$.?% )% &3/4'$0$% &311$')023*% 3> &).$.%/)<%#)5$%$=:25)'$*0% -'2.0$12*8%)&(
.4$&2E&% /3'$&:')1% +$>$&0A% _)/4'$.% 0#)0 /3'$&:')1% )*+% &'2*2&)'% 4#$*30<4$.% #). 02520<% &3/4)1$+% 720#% 0#$% /31$% .$5$1$
')&6% .0)2*2*8% 720#% )*02-3+2$.% .4$&2E&% 03 *30% <$0% -$$*% )$5$+A% "#:.?% cD% 4)( +3/2*)*0%&).$.?%-:0%0#$21%12.6%3>%2*5).25$
')/2*2*(PP`%73:'+%>:10#$1%.:44310%)%lcD 02$*0% +2)8*3.2.% 1$=:21$.% -30#% &'2*2&)' _TT%2.%/:&#%81$)0$1A%"#13:8#%MQK%+2(
+2)8*3.2.?%7#$1$).%)%')&6%3>%.0)2*2*8%>31 )*+%/3'$&:')1%2*>31/)023*A%D'33+%.)/( )8*3.2.?%0#$.$%073%813:4.%&)*%-$%+2.02*(
0<4$% aRR% &3'')8$*% 73:'+% .:44310% )% McD 4'$.%31%-:&&)'%.7)-.%)1$%0)6$*%>13/%0#$ 8:2.#$+?%0#$1$-<%2+$*02><2*8%4)02$*0.%43(
+2)8*3.2.A%K-.$*&$%3>%.0)2*2*8%>31%D\H!I 4)02$*0% ).% 7$''% ).% 0#$% 4)1$*0.% )*+% .2-( 0$*02)''<%)0%12.6%>31%2*5).25$%_TTA
73:'+%.:44310%)%XKDcD%+2)8*3.2.A '2*8.%>31%8$*$02&%)*)'<.2.A \1$*)0)'% +2)8*3.2.% 3>% cD% 2*% )>>$&0$+
X$*$% /:0)023*% )*)'<.2.% #).% 1$53':( >)/2'2$.% &)*% -$% )*% $@01$/$'<% )&&:1)0$
023*2F$+% 3:1% :*+$1.0)*+2*8% 3>% 0#$% cD !IHH7:78DI9E'!I9K8AGIG N_$$ D3@%VI(HO 0$&#*2=:$?%$.4$&2)''<%2>%0#$%31282*)'%413(
:;A
#*+&/3)( +2.&24'2*)1<% )4413)&#AHUI?HUH% T3/41$( +$*:+$+% .62*?% )% &3//3*% E*+2*8% 2*% cD
#$*.25$%0342&)'%0#$1)4<%2.%)%/)2*.0)<%3> 4)02$*0.?% 41352+$.% )*% 2*)+$=:)0$% -)112$1
!-@@"*".,-&'(!-&+.%#-#(%@(
01$)0/$*0% 2*% cD?% 720#% )532+)*&$% 3> 03% /2&13-2)'% 4$*$01)023*A% \)02$*0.% 720#
1D-I"*$%'S#-#(A>''%#&
01):/)%).%)%412/)1<%83)'A%b3:*+%#$)'( .$5$1$%cD%.:-(0<4$.?%.:&#%).%]McD?%/)<
!"#$%&'()*+ 2*8% 2.% 2/4)21$+% -<% $*+38$*3:.% >)&031.? )'.3%#)5$%2//:*3'382&%)-*31/)'202$.?%2*(
)A?NBAEFQ 2*&':+2*8%>31$28*%-3+2$.?%-)&0$12)?%*:012( &':+2*8% +$&1$).$+% '</4#3&<0$% 413+:&(
"8G7<D'OID7G 023*)'% +$E&2$*&2$.?% )*$/2)?% )*+% 1$( 023*% +:$% 03% 4331% *:012023*)'% .0)0:.% 0#)0
(:I<DIA8'OEIGD7:G 4$)0$+% 01):/)A% "#$1$>31$?% 3402/2F2*8 '37$1% )% 4)02$*0k.% 1$.2.0)*&$% 03% 2*>$&023*A
4B7:?9E'O;:8G 73:*+% #$)'2*8% 2*% cD% 4)02$*0.% 2*53'5$. K-"1*T%/#/##$.' "$+&$.% )*+% K-+&1-/#/##$.
3;EEA;G'I?N7DIKA &3*013'%3>%)''%3>%0#$.$%>)&031.AHU` 1T/0&,&.% )1$% &3//3*% 2*>$&023:.% )8$*0.A
3;EEA;G'<A8K78ID9E'I<BDBFAGIHA:?'7:FDB:A. X1)/(*$8)025$%2*>$&023*.%720#%4.&$(/!/)
>7:?9'X87A89D7Y ,".' "&+$03,/."% &)*% )'.3% 3&&:1A% _$4.2.% 2.% )
#;NNA:DIP7'#=I8'/9:7
+NE9GI9'<;DIG'X87A89D7Y &3//3*%&):.$%3>%+$)0#%2*%lcD%'$0)'2.%4)(
c@0$*.25$% )1$).% 3>% +$*:+$+% .62*% &)*% 1$( 02$*0.A% _62*% &:'0:1$.% )*+% 0#$% :.$% 3>% 0#$
,"-#'.)/
.:'0%2*%0#$%'3..%3>%0#$%-)112$1%41352+$+%-< )4413412)0$%.<.0$/2&%)*02-2302&.%)1$%2*+2(
/B:A8I<'O;EEA;G'>7:?9DAGIG'AH'<BIE>BAA>' 0#$%.01)0:/%&31*$:/A%_:-.$=:$*0%/2&13( &)0$+%>31%73:*+%2*>$&023*A%"3%41$5$*0%2*(
XEI879:'I??;8AKEAO;EI8'+'>IG79G7Y -2)'%4$*$01)023*%&)*%1$.:'0%2*%0#$%)&&:/:( >$&023*.% 2*% 
*2&% 73:*+.?% )% 1$82/$*
3;EEA;G'N7?NBIKAI> ')023*%3>%.$1:/%)*+%/32.0:1$%0#)0%>:10#$1 $*0)2'2*8% 1$8:')1% 7#21'433'% 0#$1)4<% >3'(
&NI>7:?AEFGIG'O;EEAG9'9<W;IGID9 $*#)*&$.% -)&0$12)'% 4134)8)023*A% "#$ '37$+% -<% 0342&)'% )*02-2302&.% 2.% 0#$% 41$(
3;EEA;G'GFGD7?I<'E;N;G'7:FDB7?9DAG;G )-35$% >)&031.% &3/-2*$+% 720#% 2//:*3( >$11$+%.01)0$8<A%]30)023*%3>%0342&)'%)*02-2(
/I<9D:I<I9E'N7?NBIKAI> .:441$..25$% 0#$1)4<% >)&2'20)0$% +$5$'34( 302&.% 2.% )'.3% )% #$'4>:'% 7)<% 03% &3/-)0
)7?NBIK;G'P;EK9:IG /$*0% 3>% 2*>$&023*.A% \1$5$*023*% 3>% 2*>$&( 1$.2.0)*0%-)&0$12)A
0*12+#%34*)%54$ 023*%2.%3-523:.'<%0#$%41$>$11$+%.01)0$8<A
#D7P78G.@AB8GA8'GF8>:A?7 K% /3+2E$+% M)62*k.% .3':023*% NIAI`J #;:KI<9E'4:79D?78D
4AQI<'7NI>7:?9E'87<:AEFGIG 4$1&$*0% 7$28#0% 4$1% 53':/$% .3+2:/% #<(
43&#'3120$O% &)*% -$% #$'4>:'% 2*% 1$+:&2*8 K/3*8%0#$%cD%4)02$*0%434:')023*?%0#3.$
0#$% -)&0$12)'% '3)+% 2*% 4)02$*0% .62*AHUP?HUS 720#% 0#$% .$5$1$% d_(]McD% 5)12)*0% )1$
-)*+% #).% 41$523:.'<% #)+% /:0)023*)' _3)62*8% 73:*+.% 2*% 0#2.% .3':023*% >31% `I 8$*$1)''<% 0#$% /3.0% 2*% *$$+% 3>% .:182&)'
)*)'<.2.%31%2+$*02E&)023*%3>%0#$%+$>$&025$ /2*:0$.% -$>31$% +1$..2*8% &#)*8$.% )'.3 2*0$5$*023*AHUU% L200$*% 4.$:+3.<*+)&(
8$*$A% W$0)'% .62*% -234.2$.% )*+% >$03.&34< #$'4.% 03% >1$$% )+#$1$*0% -)*+)8$.% 0#)0 0<'<% 2*% 0#$.$% 4)02$*0.% &)*% -$% .:182&)''<
720#% 0#$21% 2*&1$).$+% 12.6% 3>% 41$8*)*&< #)5$% +12$+% 3*03% 0#$% 73:*+% -$+A% K>0$1 1$'$).$+;% #37$5$1?% 0#2.% 413&$+:1$% /)<
'3..% &)*% *37% -$% )532+$+% -<% )*)'<.2.% 3> .3)62*8?% 73:*+.% &)*% -$% +1$..$+% 720# #)5$%03%-$%1$4$)0$+% 4$123+2&)''<%+:$% 03
$20#$1% ళ*2&% 52'':.%.)/4'2*8% ).% $)1'< /:4213&2*% 31% 30#$1% 0342&)'% )*02-2302&. 0#$%.013*8%0$*+$*&<%3>%0#2.%&3*+2023*%03
).%!%03%HI%7$$6.HVJ%31%)/*23&$*0$.2.%2* )*+% &35$1$+% 720#% .$/23&&':.25$% *3*( 1$&:1AHU!,H!H%_4'2*02*8%)>0$1%.:18$1<%2.%$.(
0#$% .$&3*+% 012/$.0$1AHVV% "#$% +$5$'34( )+#$.25$% +1$..2*8.A% ")4$% &):.$.% >:10#$1 .$*02)'% 03% 1$+:&2*8% 1$&:11$*&$% 3>% #)*+
/$*0% 3>% #28#'<% 2*>31/)025$% 2*01)8$*2& -'2.0$12*8%)*+%4$$'2*8%3>%0#$%.62*;%0#:.%20 +$>31/202$.A% _:18$1<% /)<% )'.3% -$% :.$+
)*+%9)*62*8%43'</314#2&%MQK%/)16$1. 2.% $..$*02)'% 03% :.$% .$'>()+#$12*8% N&'2*8( 03% &311$&0% '2/-?% 4$1231)'?% )*+% 4$12*$)'
2*% cD% &)*+2+)0$% 8$*$.% 038$0#$1% 720# 2*8O% 8):F$% 03% #3'+% *3*()+#$1$*0% +1$..( &3*01)&0:1$% +$>31/202$.;% -:0?% :*>310:(
1)42+% .&1$$*2*8% 3>% 8$*$02&% Y#30.430.Z 2*8.%2*%4')&$A *)0$'<?% 1$&:11$*&$% 2.% &3//3*AHUU?H!`?H!P
/)6$.% 8$*$02&%.&1$$*2*8% 3>%)0(12.6% 41$8( W31% 4)02$*0.% 720#% /3.0% .:-(0<4$.% 3> c@01)% &)1$% /:.0% -$% 0)6$*% 03% /2*2/2F$
*)*&2$.%)%52)-'$%34023*AP?HIP?HVU%T3:4'2*8 cD_?%.:&#%).%i3$-*$1%)*+%b$-$1(T3&6( 01):/)% 03% 0#$% 31)'% /:&3.)% 2*% cD% 4)(
3>% 0#$% 0$&#*2=:$% 3>% 2*% 52013% >$102'2F)023* )<*$% cD_?% )532+2*8% $@43.:1$% 03% #$)0% 2. 02$*0.%+:12*8%2*0:-)023*AH!S?H!J
720#%cD%41$*)0)'%+2)8*3.2.?%41$2/4')*0)( 6$<%03%&3*013''2*8%-'2.0$1%>31/)023*A%K+( R*% 0#$% &).$% 3>% 02..:$($*82*$$1$+% .62*?
023*%+2)8*3.2.%#).%*37%-$$*%.:&&$..>:''< 52.2*8% 4)02$*0.% 03% :.$% .3>0?% 7$''(5$*02( )44'2&)023*% 3>% )''38$*$2&% .62*% $=:25)(
4$1>31/$+% >31% cD% &).$.AHJ^?HVJ?HV!% K*( ')0$+% .#3$.% 2.% )'.3% 1$&3//$*+$+A% d$1( '$*0.% #).% 1$&$*0'<% +$/3*.01)0$+% .3/$
30#$1%413/2.2*8%)1$)%3>%41$*)0)'%+2)8*3( '20F% lcD% 4)02$*0.?% ')&62*8% >:*&023*)' 413/2.$%2*%73:*+%#$)'2*8%)*+%2/4135$(
.2.% 720#% 430$*02)'% >:0:1$% )44'2&)023*.% 03 ')/2*2*(PP`?%)*%$@01)&$'':')1%/)012@%413( /$*0%3>%=:)'20<%3>%'2>$H!V%)*+%0#:.%1$41$(
cD% 2.%0#$% +$0$&023*%)*+% )*)'<.2.%3>% >$0)' 0$2*% .#37*% 03% -$% 2*53'5$+% 2*% 6$1)02*3( .$*0.%)*%)1$)%3>%>:0:1$%2*5$.028)023*A%K'(
&$''.%2*%0#$%/)0$1*)'%&21&:')023*AHV^ &<0$%)+#$.23*%)*+%/281)023*?%/)<%#)5$ 0#3:8#%'3*8(0$1/%-$*$E0%31%4$1.2.0$*&$
$.4$&2)''<% +2>E&:'0% 413-'$/.% 720# 3>%)''381)>0$+%&$''.%#).%*30%-$$*%+$/3*(
73:*+% #$)'2*8A% R*% lcD% 4)02$*0.% 720# .01)0$+?% 0#2.% 0#$1)4<% *3*$0#$'$..% )4(
4%&+4*&-4 
*2&% #<4$10134#2&% 81)*:')023*% 02..:$ 4$)1.%03%-$%)%#$'4>:'%.#310(0$1/%0#$1)4<
"#$1)4<%>31%cD%2.%-<%*$&$..20<%.:44310( 2*% 0#$% 4$12312E&2)'% 1$823*.% 3>% 0#$% >)&$? 03%#$'4%
*2&%cD%73:*+.%03%#$)'A
25$?%).%&:11$*0'<%)5)2')-'$%0#$1)42$.%&)*( 6$1)02*3&<0$% ):0381)>0.% #)5$% -$$*
*30%&311$&0%0#$%:*+$1'<2*8%/3'$&:')1%+$( :.$+AHUJ?HUV%W31%McD%4)02$*0.?%:.$%3>%E*(
4:79D?78D'AH'4;?A:G
>$&0A% "#$% 1$82/$*% 2.% 0)2'31$+% 03% 0#$ 8$1% .4'2*02*8% 31% +2'28$*0% #)*+% 71)442*8
.$5$120<%)*+%$@0$*0%3>%.62*%)*+%.<.0$/2& )*+%)4413412)0$%#)*+%4130$&023*%)8)2*.0 _TT%3>0$*%)12.$.%)>0$1%4:-$10<%2*%4)02$*0.
2*53'5$/$*0%)*+% :.:)''<% $*0)2'.% )% &3/( 01):/)%)1$%#$'4>:'?%$.4$&2)''<%)>0$1%#)*+ 720#%]McDAH!U?H!!%_TT%/)<%)12.$%2*%/:'(
-2*)023*% 3>% 73:*+% /)*)8$/$*0?% 2*>$&( .:18$1<%N.$$%_:182&)'%"1$)0/$*0OA 024'$% 412/)1<% .20$.?% $.4$&2)''<% 2*% *3*(
023*% &3*013'?% .:182&)'% /)*)8$/$*0% ). #$)'2*8% )1$).A% T)1$>:'% .:15$2'')*&$% 3>
*$$+$+?% )*+% *:012023*)'% .:44310A% _62* *3*(#$)'2*8% )1$).% 2.% 3>% :0/3.0% 2/431(
4:79D?78D'AH'"8H7<DIA8
&)1$%)*+%.:4431025$%&)1$%>31%30#$1%318)* 0)*&$% -$&):.$% 4)02$*0.% 3>0$*% +2$% >13/
.<.0$/.%2*%&$10)2*%cD%.:-(0<4$.%2.%/3.0 L)*)8$/$*0%3>%.62*%2*>$&023*.%2.%)%&1202( /$0).0)02&% +2.$).$A% _:182&)'% $@&2.23*% :.(
3402/)''<% &331+2*)0$+% 0#13:8#% )% /:'02( &)'%4)10%3>%cD%4)02$*0%&)1$A%e)18$%)1$).%3> 2*8% $20#$1% L3#.% 31% *3*(L3#.% )4(
:;!
413)&#$.%2.%)*%2/4310)*0%E1.0('2*$%/3+)'( #)1.#%)8$*0.%.#3:'+%-$%)532+$+A%c13.23*. E*+% )% 7)<% 03% /)2*0)2*% )% .:1412.2*8'<
20<?% 720#% 1)+2)023*% 0#$1)4<% '2/20$+% -< )*+%.&)112*8%2*53'52*8%0#$%01)&#$)%)*+%')1( 43.2025$% 3:0'336% 3*% '2>$?% 30#$1.% ')4.$
4331% 0:/31% 1$.43*.$% )*+% 2/4)21$+% .20$ <*@% 720#% 1$.:'0)*0% *)11372*8% 3>% 0#$% )21( 2*03% +$41$..23*A`IS% _$5$1$% cD% 4)02$*0.
#$)'2*8AH!^%R.301$02*32*%#).%-$$*%:.$+%>31 7)<% &)*% 3&&:1% -30#% 2*% lcD% )*+% McD% 4)( &)*% )'.3% &1$)0$% .01$..% >31% 0#$21% >)/2'2$.
]McD% 4)02$*0.% >31% &#$/341$5$*023*% 3> 02$*0.% )*+% .#3:'+% -$% $5)':)0$+% -<% 8$*0'$ )*+%'35$+%3*$.A`IJ?`IV%"#:.?%20%2.%2/431(
_TTA%K'0#3:8#%20%)44$)1.%7$''%03'$1)0$+? $*+3.&34<% 720#% )*% 303')1<*83'382.0% 31 0)*0%03%2+$*02><%0#$%7)1*2*8%.28*.%3>%+$(
20%2.%*30%&'$)1%7#$0#$1%20%&)*%2*&1$).$%0#$ 30#$1% .:182&)'% .4$&2)'2.0A% R*% 4)02$*0.% 720# 41$..23*%7#$*%0#$<%)12.$%)*+%03%7316%2*
35$1)''%.:1525)'%1)0$%3>%0#$.$%4)02$*0.AH^I )217)<% 2*53'5$/$*0?% 0#$1$% 2.% +)*8$1% 3> )%/:'02(+2.&24'2*)1<%)4413)&#%720#%4.<(
4:'/3*)1<%).421)023*AH!` )012.0.% )*+% &'2*2&)'% 4.<'382.0.?% ).
/9:7'HA:'&QD:9./;D987A;G' *$$+$+A% _:4431025$% 4.<#$1)4<% )*+
E8N96N6CE,<E/,<E#K6< Q:012023*)'% ).( 4)02$*0%.:44310%813:4%/$$02*8.%&)*%#$'4
"8PAEP7?78D .$../$*0% )*+% .:44310% &)*% -$% &1202&)'% 2* 4)02$*0.%)*+%0#$21%>)/2'2$.%2*%0#2.%1$8)1+A
7<MN9C6EN#MN6E<D,K<E<7#K#EN c.34#( cD%4)02$*0.`IH%>31%.$5$1)'%1$).3*.A%c@0$*( K*%)++2023*)'% .3:1&$% 3>%.:44310%>31% 4)(
)8$)'% '$.23*.% )1$% 3>0$*% 0#$% /3.0% +2.( .25$%&:0)*$3:.%2*B:1<%2.%)..3&2)0$+%720# 02$*0.% )*+% >)/2'2$.% 2*&':+$.% .$5$1)'% 2/(
)-'2*8%&3/4'2&)023*%>3:*+%2*%]McD%)*+ /)16$+% )'0$1)023*.% 2*% #$/3+<*)/2& 4310)*0%')<%4$1.3*%318)*2F)023*.%0#)0%).(
lcD%3>%-30#%0#$%d$1'20F%)*+%*3*(d$1'20F )*+%/$0)-3'2&%1$.43*.$.?%720#%2*&1$).$+ .2.0%720#%4)02$*0%$+:&)023*%)*+%.:44310?
5)12$02$.AH^H,H^S% c.34#)8$)'% .012&0:1$. &)'312&% )*+% 4130$2*% 1$=:21$/$*0.A% G13( 2*&':+2*8%0#$%M<.0134#2&%c42+$1/3'<.2.
:.:)''<% 1$.43*+% 03% +2')0)023*;% #37$5$1? 4#)1<*8$)'%).%7$''%).%XR%'$.23*.%41352+$ D:''3.)% ]$.$)1&#% K..3&2)023*% 3>% K/$1(
1$&:11$*&$% 3>% .012&0:1$.% )>0$1% +2')023*% 2. 0#$%81$)0$.0%35$1)''%0#1$)0%03%*:012023*)' 2&)%N#004[gg777A+$-1)A318O%)*+%0#$%c42(
&3//3*AH^J% T3'3*2&% 2*0$143.2023*% #). 7$''(-$2*8A% "#$.$% 2*&':+$% 31)'% -'2.0$1( +$1/3'<.2.% D:''3.)% L$+2&)'% ]$.$)1&#
4135$+%$>>$&025$%2*%)+5)*&$+%&).$.A%X).( 2*8?%)-*31/)'%$.34#)8$)'%/302'20<?%.012&( W3:*+)023*%N#004[gg777A$-62+.A318OA
013.03/<%0:-$%2*.$1023*%#).%-$$*%$>>$&( 0:1$.?% +<.4#)82)?% +2)11#$)?% /)')-.314(
025$%2*%41352+2*8%*:012023*%03%2*+252+:)'. 023*?% )*+% +$*0)'% 413-'$/.A% Q:012023*)'
720#% $.34#)8$)'% .012&0:1$.AH^P% R*&1$).$+ )..$../$*0% /:.0% 0)6$% 2*03% )&&3:*0% 0#$ #FGD7?I<'4B7:9NI7G
9:2+%)*+%E-$1%2*0)6$%)*+%.033'%.3>0$*$1. 41$&$+2*8% >)&031.% 03% +$5$'34% )% .:44'$( _<.0$/2&% 0#$1)42$.% )1$% *30% $>>$&025$% 2*
/)<%)'.3%-$%3>%5)':$%2*%cD%4)02$*0.%7#3 /$*0)'% 1$82/$*% 03% 1$4'$*2.#% *:012023*)' )/$'231)02*8%0#$%>:*+)/$*0)'%-'2.0$12*8
.:>>$1%>13/%&3*.024)023*A +$E&2$*&2$.A%\)02$*0.%)1$%3>0$*%:*)-'$%03 0$*+$*&2$.% 2*% cD% 4)02$*0.A% "$01)&<&'2*$
2*&1$).$%0#$21%>33+%2*0)6$%03%-)')*&$%0#2. )*+% 4#$*<032*% #)5$% -$$*% :.$+% 2*% 0#$
#P#,D#M6CEM cD_% 4)02$*0.?% 4)102&:')1'< 2*&1$).$+%&)'312&%*$$+A%W31%$@)/4'$?%#<( 4).0% >31% cD% -:0% )1$% *30% &:11$*0'<% 2*+2(
0#3.$% 720#% 0#$% M37'2*8(L$)1)% .:-( 434').02&% $*)/$'% >31/)023*% 2*% &$10)2* &)0$+% 01$)0/$*0A`IU?`I!% T3102&3.0$132+.?
0<4$?% &)*% $@4$12$*&$% 1$&:11$*0% 2*9)/( .:-(0<4$.% 3>% cD% .:&#% ).% XKDcD% /)< $20#$1%0342&)'%31%.<.0$/2&?%#)5$%*3%-$*$(
/)023*% 3>% 0#$% $<$'2+?% 720#% -:''3:.% '$( '$)+% 03%0330#% +$&)<?% /:&3.)'% -'2.0$12*8? E&2)'?%'3*8(0$1/%:.$%2*%2*#$120$+%cDA
.23*.%2*%0#$%&3*B:*&025)$A%lcD%)*+%]McD )*+%31)'%&)*+2+2).2.A%K''%3>%0#$.$%430$*(
4)02$*0.% &)*% $@4$12$*&$% &31*$)'% :'&$1( 02)'% &3/4'2&)023*.% /)<% &3/413/2.$% )
)023*.%720#%.&)112*8?%3-'20$1)023*%3>%0$)1 4)02$*0k.% )-2'20<% 03% $)0A% c@0$*.25$% 2*0$1( (;D;:7'!I:7<DIA8G'"8'
+:&0.?% )*+% $<$'2+% '$.23*.AH^V% T2&)012&2)' *)'%/:&3.)'%+2.)+#$.23*%2*% 0#$%XR%01)&0
*AE7<;E9:'4B7:9NF
&3*B:*&025202.% &)*% )'.3% 3&&:1% 2*% ]McD /)<% &):.$% )-*31/)'% XR% /302'20<?% .012&(
4)02$*0.A% T31*$)'% $13.23*.% )1$% 01$)0$+ 0:1$.?% )*+% +2)11#$)?% &3/4'2&)023*.% 0#)0 K% *:/-$1% 3>% 41$(&'2*2&)'% /3+$'.% #)5$
.:4431025$'<%720#%)44'2&)023*%3>%)*02-2( /)<% '$)+% 03% /)')-.314023*% 3>% 213*% )*+ >)&2'20)0$+% 0#$% .0:+<% )*+% +$5$'34/$*0
302&% 32*0/$*0.% )*+% :.$% 3>% &<&'34'$82& 30#$1% *:012$*0.A% K*$/2)% 3>% 
*2&% +2.( 3>%0#$1)4<%>31%cDA%_3/$%3>%0#$.$%/3+$'.
)8$*0.%03%1$+:&$%&2'2)1<%.4)./.%)*+%413( $).$% &)*% &$10)2*'<% )>>$&0% )''% .$5$1$% cD :.$% /3:.$% 8$*$02&% )4413)&#$.% 03% 413(
52+$% &3/>310A% L32.0:1$% &#)/-$1.% )*+ .:-(0<4$.A% ]McD%4)02$*0.%3>0$*%.#37%) +:&$% $*021$'<% /:12*$% 02..:$% /3+$'.A`I^
3&:')1% ':-12&)*0.% )1$% )'.3% &3//3*'< 4)102&:')1'<%.$5$1$%+$>$&0%3>%213*%)-.314( "#$.$%2*&':+$%01)*.8$*2&%/3:.$%/3+$'.
:.$+A% _$5$1$'<% )>>$&0$+% :44$1% $<$'2+. 023*% >13/% 0#$% XR% 01)&0A% G>0$*% 2*% 0#$.$ 720#% .62*(0)18$0$+% $@41$..23*% 3>% 01)*.(
/)<% -$% .:182&)''<% /)*)8$+% 720#% >:''( 4)02$*0.?% )*% 213*(+$E&2$*0% )*$/2)% &)* +3/2*)*0% /3'$&:'$.?`HI% .:&#% ).% 2*+:&(
0#2&6*$..% .62*% 81)>02*8A% T3/4'$0$% &31( +$5$'34?%7#2&#%2.%*30%1$.43*.25$%03%31)' 2-'$% +3/2*)*0(*$8)025$% /:0)023*.% 2*
1$&023*% 3>% )*<% $<$% +2.31+$1% 2*% cD% 4)( .:44'$/$*0)023*A%W31%0#$.$%4)02$*0.?%4)( -).)'% &$''% 6$1)02*.% 2*% /3+$'.% 3>% cD_A`HH
02$*0.% 2.% +2>E&:'0% 03% )$5$A% \134$1 1$*0$1)'% 213*% &)*% -$% #$'4>:'A% W:10#$1( L:12*$% 6*3&63:0% /3+$'.% #)5$% )'.3
/)*)8$/$*0% 3>% $<$% '$.23*.% 2*% cD% 4)( /31$?%2>%)%')&6%3>%)%1$02&:'3&<0$%1$.43*.$ -$$*% :.$+?% 2*&':+2*8% 6*3&63:0% 3>% -).)'
02$*0.%/:.0%2*&':+$%0#$%)..2.0)*&$%3>%)* 03%213*%.:44'$/$*0)023*%2.%.$$*%2*%213*( 6$1)02*% 8$*$.% 2*% )% /3+$'% 3>% 1$&$..25$
34#0#)'/3'382.0% 03% 41$5$*0% .$123:.% 52( +$E&2$*0% 4)02$*0.?% 20% 2.% #$'4>:'% 03% )..$.. cD_%)*+%3>%0#$% V%)*+% S%2*0$812*.?%')/2(
.:)'%&3/413/2.$AH^U?H^! 0#$% $1<0#13432$02*% '$5$'% )*+% 03% 01$)0 *2*(PP`?% )*+% 0<4$% aRR% &3'')8$*A`H`?`HP
720#% 1$&3/-2*)*0% $1<0#13432$02*?% 2> "#$.$%0)18$0$+%8$*$%+2.1:4023*.%2*%/2&$
C9CHL<9PE7#<D,D#M6CEM X33+%+$*0)'%#<( *$&$..)1<A`I`% "1)*.>:.23*% 2.% )'.3% :.$>:' #)5$% )&&:1)0$'<% 1$&)420:')0$+% 0#$% -'2.(
82$*$%2.%$..$*02)'%>31%cD%4)02$*0.?%)*+%1$8:( 2*%0#$%01$)0/$*0%3>%)*$/2)%2*%cD?%$.4$( 0$12*8% 4#$*30<4$% 3>% 0#$% &311$.43*+2*8
')1% 52.20.% 03% 0#$% +$*02.0% )1$% $.4$&2)''<% 2/( &2)''<% 7#$*% .</403/.% 1$=:21$% )% 1)42+ #:/)*%+2.31+$1.A%"#$.$%/:12*$%8$*$02&
4310)*0A% c*)/$'% +$>$&0.% 2*% lcD% )*+% McD &311$&023*A /3+$'.%#)5$%-$$*%3>%81$)0%:.$%2*%&')12><(
4)02$*0.%3>0$*%'$)+%03%+$*0)'%&)112$.AH^^?`II 2*8%3:1%:*+$1.0)*+2*8%3>%0#$%4)0#38$*$(
"#$%.3>0$.0%-1:.#%)5)2')-'$%.#3:'+%-$%:.$+ N9#<NK#EN,C5,HMP0LCDC760<D,<MH#0NM,C5 .2.%3>%0#2.%813:4%3>%+2.31+$1.%)*+%2*%413(
>31%1$8:')1%&'$)*.2*8A%G1)'%/:&3.)'%-'2.0$1( #H6/#9KCDPM6M,=8DDCM< \)02$*0.% 720# 52+2*8% +2.$).$% /3+$'.% >31% +$5$'34/$*0
2*8%/)<%)'.3%)&&3/4)*<%>31/.%3>%lcD%)*+ cD?%$.4$&2)''<%0#$%.$5$1$%.:-(0<4$.?%&)* 3>%430$*02)'%>:0:1$%0#$1)42$.A%G0#$1%)*2(
McDA%Q31/)'%.)'2*$%12*.$.%)1$%$>>$&025$%>31 -$%4')8:$+%720#%
*2&%4)2*%)*+%+$-2'2( /)'% /3+$'.% #)5$% )'.3% -$$*% .#37*% 03
8$*0'$% &'$)*2*8% 3>% 0#$% /:&3.)'% .:1>)&$.A 0)023*A`IP% K'0#3:8#% /)*<?% +$.420$% $@( #)5$% 0#$% 430$*02)'% 03% .0:+<% cD% 4)0#3(
L3:0#7).#$.%&3*0)2*2*8%)'&3#3'%31%30#$1 01$/$'<% )+5$1.$% &3*+2023*.?% .$$/% 03 4#<.23'38<%)*+%0#$1)4<%2*%)%41$(&'2*2&)'
:;:
.$002*8A%T)*2*$?%$=:2*$?%)*+%>$'2*$%>31/. )*ĸ*8% E-12'.% &3/-2*$+% 720#% &'2*2&)' 025$% 1$/2..23*% 3>% -'2.0$12*8% 2*% 5253?
3>% )% *:/-$1% 3>% .:-(0<4$.% 3>% cD% .#37 2/4135$/$*0%3>%.62*%.$4)1)023*A%"<4$%aRR 7#2&#% '$)+.% 03% )% 7)<% 037)1+% >:0:1$
413/2.$%).%41$(&'2*2&)'%/3+$'.%3>%/3'$&( &3'')8$*%#).%)%'3*8$1%2*%5253%#)'>('2>$%0#)* &'2*2&)'%)44'2&)023*.A
:')1%0#$1)4<A`HS,``I /3.0%/3'$&:'$.A%"#2.%.:88$.0.%0#)0%4130$2*
R*%)++2023*%03%.:&#%4:1$%)*2/)'%/3+( )44'2&)023*%31%2*B$&023*%&3:'+%0)6$%4')&$%)0
$'.?% #:/)*% .62*g/3:.$% /$1).% #)5$ $@0$*+$+%2*0$15)'.?%4$1#)4.%81$)0$1%0#)*%P V&\'%&(&%&-/&#
-$$*% 8$*$1)0$+% 2*% )*% )00$/40% 03% 413( /3*0#.?%).%4$1.2.0$*&$%3>%$@38$*3:.%0<4$
+:&$% 01:$% #:/)*% 02..:$% /3+$'.% 3>% cDA aRR% &3'')8$*% 4130$2*% 7).% +$0$&0$+% 2*% )*2( 4B7'H;EE':7H7:78<7'EIGD'HA:'9EE'<B9ND7:G'
"#$.$% /$1).% #)5$% $20#$1% :.$+% >:''( /)'% /3+$'.% >31% )0% '$).0% 0#2.% '3*8A% R*% 0#$ IG'9P9IE9OE7'9D'ZZZC>IK?bC<A?C
0#2&6*$..% 81)>02*8% 3>% cD% 4)02$*0% .62*% 31 &).$%3>%8$*$%0#$1)4<?%+$'25$1<%3>%8$*$.%0)1(
$42+$1/2.% 1$8$*$1)0$+%3*%.62*%&3/43.( 8$0$+%03%1$.031$%*31/)'%4130$2*%$@41$..23* HA M13(&+!/%T.3.'@$%%/."c';%3,3#"%d'M13(&!3/%/03#d
20$.% )*+% .#$$0.% >13/% cD% 6$1)02*3&<0$. 2.% 0#$% 83)'A```% _:&&$..>:'% &311$&025$% 8$*$ ",('G"5/+"-/+T'8(L",#&.'",('-*&'^3,(3,0.'/S
-*&' H"-3/,"%' M13(&+!/%T.3.' @$%%/."' Q&03.-+T?
8137*% 2*% &:'0:1$A``H% R//:*$(+$E&2$*0 +$'25$1<%#).%1$&$*0'<%-$$*%)$5$+%2*%#:( $+20$+% -<% W2*$% lM% $0% )'A% D)'02/31$?% l3#*
.$5$1$% &3/-2*$+% 2//:*$% +$E&2$*&< /)*% cD% 02..:$% 2*% 0#$% 2//:*$(+$E&2$*0 d3462*.%C*25$1.20<%\1$..?%H^^^
)*+% *:+$% /2&$% 1$)+2'<% )&&$40% .:&# /3+$'% .<.0$/% +$.&12-$+% -$'37% >31% -30# `A L&K''2.0$1% lT?% \$0$1% L)12*6352&#% L[
@$*381)>0.% )*+% 0#$% 81)>0$+% cD% .62*% 1$( ')/2*2*(PP`%)*+%"<4$%faRR%&3'')8$*A``P?``S K+5)*&$.% 2*% 2*#$120$+% $42+$1/3'<.2.
-:''3.)A 8(L'6&+!"-/% $![PIP?%`IIJ
0)2*.% 0#$% &'2*2&)'% )*+% /3'$&:')1% &#)1)&( "#:.?%8$*$02&%0#$1)42$.%/)<%-$%3>%.28*2E( PA C2003% l?% ]2&#)1+% X[% \1381$..% 2*% $42+$1(
0$12.02&.% 3>% 0#$% 4)02$*0% +3*31A% "#2.% 2/( &)*0%:.$%2*%0#$%>:0:1$A%L31$%1$&$*0'<?%-30# /3'<.2.% -:''3.)[% W13/% $43*</.% 03
/:*3+$E&2$*0% /3:.$% /3+$'.% &)*% -$ 521)'% )*+% *3*521)'% /$0#3+.% 3>% 8$*$ /3'$&:')1% 8$*$02&% &')..2E&)023*A% ;%3,
$@0$*+$+% 03% .0:+<% 2*B$&023*.% 3>% #:/)* 01)*.>$1% #)5$% +$/3*.01)0$+% .:&&$..>:' 6&+!"-/% $&[PP?%`IIJ
V!A W2*$%lM%$0%)'[%]$52.$+%&')..2E&)023*%.<.(
&$''.%31% 4130$2*.% ).% 7$''A% "#2.%)4413)&# $@41$..23*% 3>% 0<4$% aRR% &3'')8$*% 2*% ]McD 0$/%>31%2*#$120$+%$42+$1/3'<.2.%-:''3.)[
#).%-$$*%1$4310$+%>31%]McD%+:$%03%/:( .62* $=:25)'$*0.% 3*% 2//:*3+$E&2$*0 ]$4310%3>%0#$%_$&3*+%R*0$1*)023*)'%T3*(
0)023*.% 2*% 0<4$% aRR% &3'')8$*% )*+% >31% -$( /2&$``J,``!% ).% 7$''% ).% 2*% )% &)*2*$% )*2/)' .$*.:.%L$$02*8%3*%+2)8*3.2.%)*+%&')..2(
*28*%lcD%+:$%03%/:0)023*.%2*%0<4$%faRR /3+$'A`H^% X$*3/2&% MQK% 0#$1)4$:02&% )4( E&)023*% 3>% $42+$1/3'<.2.% -:''3.)A% O' 8!
8#"('6&+!"-/% '$[HIJH?%`III
&3'')8$*A%D$&):.$%#:/)*%$42+$1/2.%+2>( 413)&#$.% #)5$% )'.3% -$$*% .0:+2$+% 2*% cD V^A d31*% dL?% "2+/)*% Ll[% "#$% &'2*2&)'
>$1.%+1)/)02&)''<%>13/%/3:.$%$42+$1/2. 6$1)02*3&<0$.% 720#% .3/$% .:&&$..?% -:0 .4$&01:/%3>%$42+$1/3'<.2.%-:''3.)%.2/(
2*% 02..:$% )1$&0:1$?% 0#$.$% 2*% 5253 .02''%)0%0#$%2*%52013%.0)8$A``^?`PI %M$1/)' 4'$@A @+'O'6&+!"-/% !'$[SV!?%`III
/3+$'.%3>%#:/)*%02..:$%2*%cD%/)<%-$%3> E-13-').0.% #)5$% '3*8% -$$*% )441$&2)0$+ HSHA K.#03*%Xd[%i2*+'$1%.<*+13/$A%;%3,'MN1
6&+!"-/% $([HHV?%`IIS
.4$&2)'% :.$% 2*% +$5$'34/$*0% 3>% /3+$'. 03%-$%)%/)2*%&3*012-:031%3>%0<4$%aRR%&3'( HVJA W)..2#2% d% $0% )'[% \1$*)0)'% +2)8*3.2.% >31
>31%8$*$%0#$1)4<%3>%0#$.$%+2.31+$1.A ')8$*% 03% 0#$% +$1/)'($42+$1/)'% -).$( .$5$1$%2*#$120$+%.62*%+2.31+$1.[%`J%<$)1.k
W:0:1$%430$*02)'%0#$1)42$.%>31%cD%2*&':+$ /$*0%/$/-1)*$A`PH%]$&$*0'<?%)4413)&#$. $@4$12$*&$A @+'O'6&+!"-/% !"'[HIV?%`IIV
4130$2*% )*+% 8$*$% 0#$1)4<A% R*% 0#$% >31/$1 0#)0% 2*B$&0% 0<4$% aRR% &3'')8$*($@41$..( H!`A "1)52.%_\%$0%)'[%G1)'%)*+%8).0132*0$.02*)'
/)*2>$.0)023*.%3>%$42+$1/3'<.2.%-:''3.)A
&).$?% 0#$% /2..2*8% 31% +$>$&025$% 4130$2*% 2. 2*8% E-13-').0.% #)5$% 4135$+% .:&&$..>:' G",#&- &'*[HJIJ?%H^^`
413+:&$+% -<% 1$&3/-2*)*0% /$0#3+.% )*+ 2*% 1$.0312*8% 0<4$% aRR% &3'')8$*% $@41$.( H!UA L&X1)0#%lK%$0%)'[%c42+$1/3'<.2.%-:''3.)
)44'2$+% 31% 2*B$&0$+% +21$&0'<% 03% 2*0)&0% 31 .23*% )*+% 1$5$1.2*8% 0#$% -'2.0$12*8% 4#$( &3/4'2&)0$+% -<% .=:)/3:.% &$''% &)1&2(
-'2.0$1$+% .62*A% ]$&$*0% .0:+2$.% 3>% 0<4$% aRR *30<4$% 2*% ]McD% .62*% $=:25)'$*0.% 3* *3/)[%1$4310%3>%HI%&).$.A%O';$-",'4"-*/%
!([HHV?%H^^`
&3'')8$*% 4130$2*% 01)*.>$1% 2*03% ]McD(+$( 2//:*3+$E&2$*0% /2&$A``V?`P`% "#$.$ ```A W$11)12%_%$0%)'[%X$*$%0#$1)4<%)4413)&#$.
125$+% .62*% $=:25)'$*0.% #).% .#37$+% .:&( .0:+2$.%.:88$.0%0#)0%/3'$&:')1%0#$1)4< >31%$42+$1/3'<.2.%-:''3.)A%;%3,'6&+!"-/%
&$..>:'%2*&31431)023*%3>%0#2.%/3'$&:'$%2*03 3>% cD% &)*% 413+:&$% +:1)-'$% )*+% $>>$&( $&[SPI?%`IIJ
:;G
!"#$%&'( !"#$%!&%#'$(')*&'!&%+,-'
! .$//&.)"0&')"##1&
5,))%(2%L!E%@.%,1.%0)%&(5/()$.%(2%-#+$$
.*,2)&%'34 /('*/$/-0.$% &#,01)C% $,&#% ,//+(;05,-$'*
!?%@.<%"#$)$%-#+$$%/('*/$/-0.$)C%@1(A1
.$--,A&/U'
$%&&'()*+,-&'./01, ,)% -#$% ! "#$%&'C% ,+$% &(0'$.% ,+(91.% $,&#
(-#$+% 59&#%'0@$% )-+,1.)% (2% +(/$C% )(% -#,-
&-,#)".'
203)4.+,'*5, -#$%&('',4$1%5(1(5$+%#,)%,%-+0/'$3#$'0&,'
)-+9&-9+$<% "#0)% &(12(+5,-0(1% 408$)% -#$
("W&%#U',/!'
-6/4'1)&&7&'4,8'/406, 5('$&9'$%,%+040.C%+(.3'0@$%)#,/$%A0-#%,/3
/+(;05,-$% .05$1)0(1)% (2% =<M% !% NEE% 15
&X)%,.&--1-,%'
%9,/:),;)4<0. G)$$%H04<%I=3LJ<
"#$% )/$&0,'% )-+9&-9+$% (2% -#$% &('',4$1 +,)%"X
56789'19::6
+68;-9'.<7
-+0/'$%#$'0;%0)%',+4$'*%$;/',01,7'$%7*%-#$
919)9,'% ,501(% ,&0.% &(5/()0-0(1% (2% -#$
% &#,01)<% O/$&06&,''*C% $,&#% % &#,01% (2
,)','A-,/.&'
%9=<>?@'A>BB6 -*/$% B%&('',4$1% #,)%,//+(;05,-$'*%=EEE
,501(% ,&0.)C% ,1.% 4'*&01$% GP'*JC% -#$
,?:<7?'CD'&9EF8
)5,''$)-% ,501(% ,&0.C% ,&&(91-)% 2(+% ,/3
/+(;05,-$'*%(1$3-#0+.%(2%-#$%-(-,'%1953
.$--,A&/ 7$+%(2%,501(%,&0.)C%$8$1'*%.0)-+079-$.%01
-#$%&('',4$1(9)%/(+-0(1%(2%-#$%/('*/$/3
#:?7=:7?F -0.$<% Q(1)$R9$1-'*C% -#$% /('*/$/-0.$ )<F'G>98:F8>8=F'6J':9EE7F'>?=<9:F=:7?F'
"#$% &'()$'*% +$',-$.% /+(-$01)% (2% -#$% &('3 &#,01)% (2% &('',4$1% &,1% 7$% .$)&+07$.% ,) >8@':<F'I<NE96B6H9='I?6IF?:9FE'6J'EY98'>?F'
',4$1% 2,50'*% ,+$% -#$% 5,01% 67+0'',+% &(53 +$/$,-014%-+0/'$-)%+$/+$)$1-$.%,)%GP'*3S3 >::?9L7:>LBF':6':<F'FM:?>=FBB7B>?'G>:?9M'6J'
/(1$1-)%(2%-#$%&(11$&-08$%-0))9$)%,1.%-#$ TJNNN% G)$$% H04<%I=3LJ<%"#$% S%,1.%T% /()03 =688F=:9QF':9EE7FED
5,:(+% $;-+,&$''9',+% /+(-$01)% (2% -#$% #93 -0(1)% (2% -#$% +$/$,-014% )$R9$1&$% &,1% 7$ )<F'=688F=:9QF':9EE7F'8F:Z6?Y'=6GI?9EFE'
5,1%7(.*<=>?%"#$%/#*)0('(40&%+('$%(2%&('3 (&&9/0$.% 7*% ,% 8,+0$-*% (2% ,501(% ,&0.)C >'B>?HF'87GLF?'6J'FM:?>=FBB7B>?'G>:?9M'
',4$1%67$+)%01%-#$%)@01%0)%-(%/+(80.$%-$13 =6GI68F8:EU'98=B7@98H':<F'=6BB>HF8EU'
)0'$% /+(/$+-0$)% -#,-% ,''(A% -#$% )@01% -( FB>E:9='KLF?EU'I?6:F6HBN=>8[HBN=6E>G9;
)$+8$%,)%,%/+(-$&-08$%(+4,1%,4,01)-%$;-$+3 86HBN=>8'G>=?6G6BF=7BFEU'>8@'EFQF?>B'
1,'% -+,95,<% B1% #95,1% )@01C% &('',4$1% 63 868;=6BB>HF867E'HBN=6I?6:F98ED
7$+)% 2(+5% -#$% 79'@% (2% -#$% $;-+,&$''9',+ )<F'>L9B9:N'6J'?FE9@F8:'=FBBEU'E7=<'>E'KL?6;
5,-+0;% ,1.% &(5/+0)$% ,//+(;05,-$'*% DE LB>E:E'>8@'EG66:<'G7E=BF'=FBBEU':6'EN8:<F;
/$+&$1-%(2%-#$%.+*%A$04#-%(2%-#$%.$+50)< E9\F'>8@'>EEFGLBF':<F'FM:?>=FBB7B>?'G>:?9=FE'
"#$%79'@%(2%&('',4$1%01%.$+50)%0)%.$/()3 9E'=?9:9=>B'J6?'G6?I<6HF8FE9EU'>8H96HF8FE9EU'
0-$.%,)%',+4$%791.'$)%(2%+$49',+'*%(+0$1-$. >8@'Z678@'<F>B98H'6J':<F'EY98D
67$+)%&(5/()$.%(2%67+0')%-#,-%,+$%,'041$.
"8'>'87GLF?'6J'I>:<6B6H9='E9:7>:968EU':<F'
01% ,% /,+,''$'% 5,11$+C% A#0&#% +$)9'-)% 01% ,
@N8>G9='L>B>8=F'LF:ZFF8'FM:?>=FBB7B>?'
/,--$+1%(2%&+())3)-+0,-0(1)%-#,-%&,1%7$%803
G>:?9M'EN8:<FE9E'>8@'@FH?>@>:968'9E'
)9,'0F$.% 7*% $'$&-+(1% 50&+()&(/*% GH04<
@F?>8HF@U'>E'FMFGIB9KF@'LN':7G6?'98Q>;
I=3=J<% "#$% 5()-% /+(501$1-% &+())3)-+0,3
E968'>8@'GF:>E:>E9EU'KL?6:9='EY98'@9E;
-0(1)% ,//$,+% ,)% +$/$,-014% 7,1.)% )/,&$.
F>EFEU'>8@'98]>GG>:6?N'I?6=FEEFED
,//+(;05,-$'*%KE%15%,/,+-<
"#$%/+(-(-*/$%(2%-#$%&('',4$1)%0)%-*/$
B%&('',4$1C%-#$%5()-%,791.,1-%&('',4$1%01 2=>?@-,A"B" &BF=:?68' G9=?6H?>I<' 6J' =6B; 79-%-#$%S%/()0-0(1%0)%(2-$1%(&&9/0$.%7*
-#$%.$+50)%,1.%01%5()-%(-#$+%&(11$&-08$ B>HF8' KLF?E' @FG68E:?>:98H' :<F' ?FH7B>?' L>8@98H /+('01$%,1.%-#$%T%/()0-0(1%7*%#*.+(;*3
-0))9$)% GH04<% I=3LJ<% "#$% -*/$% B% &('',4$1 I>::F?8' >:' >II?6M9G>:FBN' OP;8G' 98:F?Q>BED /+('01$<%"#$)$%-A(%,501(%,&0.)%,&&(91-
5('$&9'$% #,)% ,1% ,//+(;05,-$% 5('$&9',+ R!STUPPPDV 2(+%,//+(;05,-$'*%LL%/$+&$1-%(2%-#$%-(3
!"#
!"#$%&'()* *+,,-*.$*/(0*123%4567&88*!"9#4:&0;<*=:2>*!8&2?*(0%0*@"%*)0%9;*"@*A;0>
7$+)C%A#0&#%+$)9'-)%01%)$+0(9)%.$2$&-)%(2
&(11$&-08$% -0))9$% 291&-0(1% ,1.% ,% )/$&3
-+95%(2%&'010&,'%/#$1(-*/$)<=>M
AF8F:9='*F:F?6HF8F9:N
Q('',4$1)% &(5/+0)$% ,% 2,50'*% (2% &'()$'*
+$',-$.% *$-% 4$1$-0&,''*% .0)-01&-% /+(-$01)<
B1%-#$%#95,1%4$1(5$%-#$+$%,+$%,)%5,1*
,)% ?L% .022$+$1-% 4$1$)% $1&(.014% % &#,01)
A0-#% 8,+0,7'$% ,501(% ,&0.% )$R9$1&$)<
"#$)$% %&#,01)%&(++$)/(1.%-(%,-%'$,)-%LD
.022$+$1-% -*/$)% (2% &('',4$1C% A#0&#% #,8$
7$$1% ,))041$.% V(5,1% 195$+,')% B% -(
SSWBBB%G",7'$%I=3=J<%B1%,..0-0(1%-(%A$''3
&#,+,&-$+0F$.%&('',4$1)C%)#(+-C%-+0/'$3#$'03
&,'% &('',4$1(9)% )$45$1-)% ,+$% /+$)$1-% 01
(-#$+% /+(-$01)C% 01&'9.014% ,&$-*'&#('01$)3
-$+,)$C% -#$% Q=R% &(5/(1$1-% (2% -#$% &(53
/'$5$1-% )*)-$5C% /9'5(1,+*% )9+2,&-,1-
/+(-$01)C% 5,&+(/#,4$% )&,8$14$+% +$&$/3
-(+)C% $50'01)% G$',)-01% 50&+(67+0'% 01-$+3
2,&$>'(&,-$.%4'*&(/+(-$01)JC%,1.%$&-(.*)3
/',)01%XC%,%/+(.9&-%(2%-#$%4$1$%59-,-$.
01% S3'01@$.% ,1#0.+(-0&% $&-(.$+5,'% .*)3
/',)0,<ICK%"#$)$%/+(-$01)%,+$%1(-%01&'9.$.
01%-#$%&('',4$1%2,50'*C%#(A$8$+C%7$&,9)$
-#$% &('',4$1(9)% .(5,01)% ,+$% 1(-% ,% /+$3
.(501,1-%/,+-%(2%-#$%5('$&9'$)C%,1.%-#$
/+(-$01)% .(% 1(-% 291&-0(1% /+05,+0'*% ,)
)-+9&-9+,'% &(5/(1$1-)% (2% -#$% $;-+,&$''93
',+%5,-+0;%(2%&(11$&-08$%-0))9$<
Y1%-#$%7,)0)%(2%-#$%67$+%,+�-$&-9+$%01
-0))9$)C% -#$% 4$1$-0&,''*% .0)-01&-% &('',4$1)
&,1%7$%.080.$.%01-(%.022$+$1-%&',))$)%G)$$
",7'$% I=3=J<% Q('',4$1% -*/$)% BC% BBC% BBBC% WC
,1.% SB% ,'041% 01-(% +$',-08$'*% ',+4$% 67+0')
,1.%,+$%-#$+$2(+$%.$)041,-$.%()*%+,-.*/%&0
".++$01&'<%"*/$%BW%0)%,++,14$.%01%,1%01-$+3
',&014% 1$-A(+@% A0-#01% -#$% 7,)$5$1-
5$57+,1$)C%A#$+$,)%-*/$%WB%0)%,%.0)-01&-
50&+(67+0'32(+5014%&('',4$1%,1.%-*/$%WBB
&('',4$1% 2(+5)% ,1&#(+014% 67+0')<% 23456
G67+0'3,))(&0,-$.% &('',4$1)% A0-#% 01-$+3
+9/-$.% -+0/'$% #$'0&$)J% &('',4$1)D% 01&'9.$
2=>?@-,A"BD #=<FG>:9='?FI?FEF8:>:968'6J' :<F' E:?7=:7?F'6J' :NIF' "' =6BB>HF8D')<F' =6BB>HF8' KLF?E' R"VU -*/$)% BSC% SBBC% SBWC% SWBC% SBSC% SSC% SSBC
SSBBC% ,1.% SWB<% U,1*% (2% -#$)$%&('',4$1)
Z<9=<'68'FBF=:?68'G9=?6E=6IN'@FG68E:?>:F'>'?FIF>:98H'IF?96@9=9:N'REFF'(9HD'34;4VU'>?F'=6GI6EF@'6J'98@9;
,+$%,))(&0,-$.%A0-#%',+4$+%&('',4$1%67$+)
Q9@7>B'=6BB>HF8'G6BF=7BFE'>B9H8F@'98'>'^7>?:F?;E:>HHF?'>??>8HFGF8:'R""VD'&>=<':NIF'"'=6BB>HF8'G6BF=7BF'9E
,1.% 5,*% )$+8$% ,)% 5('$&9',+% 7+0.4$)% 053
>8'>II?6M9G>:FBN'_PP;8G;B68H'?6@;B9YF'E:?7=:7?F'R"""V'=68E9E:98H'6J':<?FF'98@9Q9@7>B'I6BNIFI:9@FEU'Y86Z8 /(+-,1-%2(+%-#$%(+4,10F,-0(1%,1.%)-,70'0-*
>E' !"#$%&'U'Z<9=<'>?F':Z9E:F@'>?678@'F>=<'6:<F?'98'>'?9H<:;<>8@F@':?9IBF'<FB9M'R"0VD'&>=<'=<>98'9E'=6G; (2% -#$% $;-+,&$''9',+% 5,-+0&$)<% "*/$% SBBB
I6EF@'6J'>G986'>=9@E'98'>'?FIF>:98H'ABN;X;`'EF^7F8=F'R0Va'>E'98@9=>:F@U':<F'X'I6E9:968'9E'J?F^7F8:BN'6==7; ,1.% SWBB% &('',4$1)% ,+$% -+,1)5$57+,1$
I9F@'LN'>'I?6BNB'?FE9@7FU'>8@':<F'`'I6E9:968'9E'J?F^7F8:BN'6==7I9F@'LN'>'S;<N@?6MNI?6BNB'?FE9@7FD')<F'98@9; /+(-$01)<% Q('',4$1% -*/$)% SS% -#+(94#
Q9@7>B' '=<>98E'<>QF'>'BFJ:;<>8@F@'<FB9=>B'EF=68@>?N'E:?7=:7?F'Z9:<'>'I9:=<'6J'PDbT'8GD'R(?6G'19::6'5'F: SSWBBB% #,8$% 7$$1% .$)&+07$.% 5(+$% +$3
>Bc' .6BB>HF8' E:?7=:7?FU' J78=:968U' >8@' I>:<6B6HNU' 98'()*+),''! %&! -%',$','! *.! /#,! 01%&U' Q6B' 4U' F@9:F@' LN &$1-'*C% ,1.% -#$0+% )9/+,5('$&9',+% )-+9&3
(BF9E=<G>dF?'%D'/FZ'`6?YU'A?78F'e'#:?>::68U'4bf4U'I'4P_U'Z9:<'IF?G9EE968DV -9+$)% +$5,01% 91@1(A1<% X1% (8$+80$A% (2
-#$%5,:(+%&('',4$1%-*/$)% &(1-+079-014%-(
-,'%,501(%,&0.%&(5/()0-0(1%(2%-*/$%B%&('3 01% )-,70'0F014% -#$% -+0/'$% #$'0;% ,-% 7(.* )@01% /#*)0('(4*% ,1.% /,-#('(4*% 0)% /+$3
',4$1<% "#$% +$',-08$'*% #04#% &(1-$1-)% (2 -$5/$+,-9+$<% "#$% -+0/'$3#$'0&,'% &(12(+3 )$1-$.% 01% -#$% 2(''(A014% /,+,4+,/#)<
-#$)$%,501(%,&0.)%,1.%-#$%&#,+,&-$+0)-0& 5,-0(1% 408$)% &('',4$1% 5,1*% (2% 0-) Y-#$+%&('',4$1%-*/$)%,+$%1(-%.0)&9))$.%01
.0)-+079-0(1%(2%4'*&01$%01%$8$+*%-#0+.%/(3 910R9$% /+(/$+-0$)% ,1.% 0)% $))$1-0,'% 2(+ .$-,0'% 7$&,9)$% -#$*% .(% 1(-% ,//$,+% -(% 7$
)0-0(1%,+$%1$&$)),+*%2(+%-#$%-+0/'$3#$'0&,' 1(+5,'% 67+0''(4$1$)0)<% U9-,-0(1)% -#,- /+$)$1-% 01% -#$% )@01% 01% )04106&,1-% R9,1-03
&(12(+5,-0(1% (2% -#$% &('',4$1% 5('$&9'$C ,22$&-% -#$% 2(+5,-0(1% (2% -#$% )-,7'$% -+0/'$ -0$)%(+%-#$*%)$$5%1(-%-(%&(1-+079-$%-(%-#$
,1.% #*.+(;*/+('01$% /',*)% ,% &+0-0&,'% +('$ #$'0;% /+$8$1-% &('',4$1% 2+(5% 2(+5014% 63 /#*)0('(40&%/+(/$+-0$)%(2%.$+50)<
!"C
!"#$%&'()(
!"#"$%&'("$")*+"#"%$,'*-'.*//0+"#'
:124.<23='.(3=3.64=9;69.;>
.1223!45'6784 .(395'.1:81;969150 ;<8=3:124.<23='3;;4:?27 69;;<4'@9;6=9?<6915>.422';1<=.4A
" g 4R"Vhi iR"V (9L?9BB>? #Y98U'L68FU':F8@68
";:?9GF? g 4R"Vh_ (9L?9BB>? )7G6?EU'EY98
""' g 4R""Vh_ (9L?9BB>? .>?:9B>HF
"""' g 4R"""Vh_ (9L?9BB>? (F:>B'EY98U'LB66@'QFEEFBEU'H>E:?698:FE:98>B':?>=:
"0' g 4R"0Vhi iR"0V= W>EFGF8:'GFGL?>8F 1L9^79:67E
0' g 4R0Vhi iR0Va'g 4R0Vh_ = (9L?9BB>? 1L9^79:67E
0"' 4R0"V iR0"V _R0"V' +9=?6KL?9B 1L9^79:67E
0""' g 4R0""Vh_' ,8=<6?98H'KL?9B 2>I9BB>?N'@F?G9E'6J':<F'EY98'>8@'6:<F?'FI9:<FB9>B':9EE7FE'RH>E:?6;
98:FE:98>B':?>=:U':?>=<F>U'FE6I<>H7EV
0"""' g 4R0"""Vh_' /F:Z6?Y'J6?G98H &8@6:<FB9>B'=FBBE
"X' 4R"XV iR"XV _R"XV' (,.") .>?:9B>HF
X g 4RXVh_ /F:Z6?Y'J6?G98H *NIF?:?6I<9='=>?:9B>HF
X" 4RX"V iRX"V _RX"V (9L?9BB>? .>?:9B>HF
X"" g 4RX""Vh_ (,.") )F8@68EU'B9H>GF8:EU'IF?9=<68@?97GU'IF?96E:F7GU'=6?8F>
X""" g 4RX"""Vh_ )?>8EGFGL?>8F 1L9^79:67E'98=B7@98H'FI9@F?G9E'R4O'EIB9=F'=6GL98>:968E'Y86Z8V
X"0 g 4RX"0Vh_ (,.") #Y98U':F8@68EU'=6?8F>
X0 g 4RX0Vh_ W>EFGF8:'GFGL?>8F 1L9^79:67E
X0" g 4RX0"Vh_ (,.") #Y98U'98:F?8>B'6?H>8EU'=>?:9B>HF
X0"" g 4RX0""Vh_ )?>8EGFGL?>8F *FG9@FEG6E6GFE'6J'L>E>B'YF?>:986=N:FE'98'@F?G>B;FI9@F?G>B'
d78=:968'6J':<F'EY98
X0""" g 4RX0"""Vh_ W>EFGF8:'GFGL?>8F 1L9^79:67E
X"X g 4RX"XVh_ (,.") W>EFGF8:'GFGL?>8F
XX 18Y86Z8' (,.") .6?8F>B'FI9:<FB9>U'FGL?N689='EY98U'E:F?8>B'=>?:9B>HFU':F8@68U'B78H
XX" 18Y86Z8' (,.") #G66:<'G7E=BF'=FBB'98'LB66@'QFEEFB'Z>BBEU'@FQFB6I98H'<F>?:
XX"" 18Y86Z8 (,.") )9EE7F'd78=:968E
XX""" 18Y86Z8 )?>8EGFGL?>8F +F:>E:>:9=':7G6?'=FBBE
XX"0 18Y86Z8 (9L?9BB>? !FQFB6I98H'L68F'>8@'=6?8F>
XX0 18Y86Z8 )?>8EGFGL?>8F /F7?68E
XX0" 18Y86Z8 (,.") )FE:9EU'6Q>?N
XX0"" 18Y86Z8 (9L?9BB>? .>?:9B>HFU'FNFU'F>?U'B78H
XX0""" 18Y86Z8 W>EFGF8:'GFGL?>8F 2F?9I<F?>B'8F?QFE
(,.")'j'KL?9B;>EE6=9>:F@'=6BB>HF8E'Z9:<'98:F??7I:F@':?9IBF'<FB9=FED
>)<F'I?F=9EF'=<>98'=6GI6E9:968'6J'E6GF'6J':<F'?F=F8:BN'@FE=?9LF@'=6BB>HF8E'9E'86:'Y86Z8D
L)<F'I?F@6G98>8:':9EE7F'@9E:?9L7:968'9E'98@9=>:F@a'BFEEF?'>G678:E'G>N'LF'I?FEF8:'98'6:<F?':9EE7FED
=,@@9:968>B' '=<>98E'FM9E:'REFF':FM:VD
!"#$% &% '())*+$,-% -#$% 5()-% A0.$'* !"#$% &&&% '())*+$,-% ,1(-#$+% 4$1$-03 2(+5%-#$%+$',-08$'*%7+(,.%$;-+,&$''9',+%63
.0)-+079-$.% ,1.% 5()-% $;-$1)08$'*% &#,+3 &,''*%.0)-01&-%2(+5%(2%&('',4$1C%/+$.(503 7$+)% -#,-% ,+$% /+05,+0'*% +$)/(1)07'$% 2(+
,&-$+0F$.%2(+5%(2%&('',4$1C%0)%2(91.%/+$3 1,-$)% 01% 4,)-+(01-$)-01,'% ,1.% 8,)&9',+ -#$% -$1)0'$% )-+$14-#% (2% -#$% #95,1% .$+3
.(501,1-'*%01%7(1$%,1.%-$1.(1%,1.%,&3 &(11$&-08$%-0))9$)C%79-%0-%,')(%+$/+$)$1-) 50)<%U9-,-0(1)%01%-#$%-*/$%B%,1.%BBB%&('3
&(91-)% 2(+% ,//+(;05,-$'*% DE% /$+&$1-% (2 ,//+(;05,-$'*% =E% /$+&$1-% (2% -#$% -(-,' ',4$1%4$1$)%&,1%+$)9'-%01%&(11$&-08$%-0)3
-#$% -(-,'% &('',4$1% (2% ,.9'-% #95,1% .$+3 &('',4$1% 01% -#$% ,.9'-% #95,1% .$+50)<! )9$%,71(+5,'0-0$)%01%-#$%)@01%,1.%:(01-)C
50)<% "#$% -*/$% B% &('',4$1% 5('$&9'$% &(13 "*/$% BBB% &('',4$1% 0)% &(5/()$.% (2% -#+$$ ,5(14% (-#$+% -0))9$)C% 01% .022$+$1-% 2(+5)
-,01)%-A(%0.$1-0&,'% %&#,01)C%.$)041,-$. 0.$1-0&,'% %&#,01)C% =GBBBJC%.0)-01490)#$. (2%\#'$+)3],1'()%)*1.+(5$%,1.%2+,40'0-*
758C%,1.%,%-#0+.%&#,01C%&,''$.% 9758C%-#,- 2+(5% -#$% &#,01)% (2%-*/$%B% &('',4$1%7*%, (2%7(1$)%01%()-$(4$1$)0)%05/$+2$&-,<=CNCM
0)% &'$,+'*% .022$+$1-% 01% 0-)% ,501(% ,&0. +$',-08$'*% #04#% &(1-$1-% (2% #*.+(;*/+(3 !"#$% &.% '())*+$,% 0)% ,791.,1-'*
&(5/()0-0(1<% "#9)C% -#$% &#,01% &(5/()03 '01$% ,1.% 4'*&01$% ,1.% -#$% /+$)$1&$% (2% , /+$)$1-% 01% 7,)$5$1-% 5$57+,1$)<=E% B1
-0(1%(2%-*/$%B%&('',4$1%0)%Z =GBJ[L LGBJ< &*)-$01$%+$)0.9$<%Q('',4$1%-*/$)%B%,1.%BBB -#$%)@01C%-*/$%BW%&('',4$1%0)%2(91.%01%-#$
!"E
7,)$5$1-% 5$57+,1$% ,-% -#$% .$+5,'3 01&'9.014% )@01<=!% "#$% -*/$% WB% &('',4$1 -#,1% -#,-% $1&(.014% -#$% =GWBBJ% /('*/$/3
$/0.$+5,'%:91&-0(1C%/+05,+0'*%A0-#01%-#$ 5('$&9'$)% &(1)0)-% (2% -#+$$% .0)-01&-% -0.$%(2%-*/$%WBB%&('',4$1<LM%H9+-#$+5(+$C
',501,% .$1),C% A#$+$% 0-% 2(+5)% ,% ',--0&$ &#,01)_ =GWBJC% LGWBJC% ,1.% NGWBJ_ -*/$% WBB%&('',4$1%)$+8$)%,)%-#$%,9-(,1-03
+,-#$+% -#,1% -#$% 67$+)% &#,+,&-$+0)-0&% (2 A#0&#%2('.%01-(%,%-+0/'$3#$'0&,'%.(5,01%(2 4$1%01%-#$%,&R90+$.%2(+5%(2%$/0.$+5('*3
.$+5,'% &('',4$1)<% "#$% -*/$% BW% &('',4$1 ,//+(;05,-$'*% =EE% 15% 01% '$14-#C% A0-# )0)% 79''(),C% ,1% ,9-(05591$% .0)(+.$+
/+$)$1-% 01% #95,1% )@01% 0)% /+$.(503 4'(79',+% .(5,01)% ,-% 7(-#% $1.)% (2% -#$ A0-#% &0+&9',-014% ,1-0>-*/$% WBB% &('',4$1
1,1-'*% ,% #$-$+(-+05$+C% Z =GBWJ[L LGBWJC 5('$&9'$<LE% "*/$% WB% &('',4$1% ,))$57'$) ,1-07(.0$)LI%G)$$%Q#,/<%MDJ<
,'-#(94#C% (&&,)0(1,''*C% -#$% #(5(/('*3 01-(%+$',-08$'*%-#01%50&+(67+0')%-#,-%2(+5 !"#$% /.&&% '())*+$,% A,)% 010-0,''*
5$+)%Z =GBWJ[N%,1.%Z LGBWJ[N%5,*%7$%,)3 ,%1$-A(+@%01.$/$1.$1-%(2%-#$%/+$80(9)'* 0.$1-06$.%,)%-#$%=DE3@.%79''(9)%/$5/#03
)$57'$.<%"#$%-*/$%BW%&('',4$1%5('$&9'$ 5$1-0(1$.% 7+(,.% &('',4$1% 67$+)C% A#0&# 4(0.%,1-04$1%7:;3<98C%A#0&#%A,)%+$&(43
0)%&#,+,&-$+0F$.%7*%-#$%/+$)$1&$%(2%1(13 &(1)0)-%(2%-*/$%BC%BBBC%,1.%W%&('',4$1)<%"#$ 10F$.%7*%&0+&9',-014%,9-(,1-07(.0$)%01%-#$
&('',4$1(9)%01-$++9/-0(1)%A0-#01%-#$%-+03 50&+(67+0'',+% 1$-A(+@% (2% -*/$% WB% &('3 )$+,%(2%/,-0$1-)%A0-#%79''(9)%/$5/#04(0.
/'$3#$'0&,'% .(5,01C% A#0&#% &(12$+% ^$;03 ',4$1% 5,*% /$+2(+5% ,1% ,1&#(+014% 291&3 (+%#$+/$)%4$)-,-0(10)<%"#0)%,1-04$1C%A#0&#
70'0-*% (1% -#$% 5('$&9'$<% U(+$% +$&$1-'*C -0(1% 7*% )-,70'0F014% -#$% ,))$57'*% (2% -#$ 0)% )*1-#$)0F$.% 7*% 7,),'% @$+,-01(&*-$)C
2(9+%,..0-0(1,'% %&#,01)_ NGBWJC% ?GBWJC 7+(,.%&('',4$1%67$+)%,)%A$''%,)%7,)$5$1- A,)% '(&,'0F$.% 7*% 05591($'$&-+(1% 503
MGBWJC% ,1.% IGBWJ_#,8$% 7$$1% 0.$1-03 5$57+,1$)<% O-9.0$)% #,8$% 1(A% .$5(13 &+()&(/*%-(%-#$%#$50.$)5()(5$)%,-%-#$
6$.<==% "#$% -*/$% BW% &('',4$1% 5('$&9'$) )-+,-$.% -#,-% 59-,-0(1)% 01% $,&#% (2% -#$ .$+5,'3$/0.$+5,'% 7,)$5$1-% 5$57+,1$
&(1-,01014% -#$)$% )97910-% /('*/$/-0.$) -#+$$%-*/$%WB%&('',4$1%4$1$)%&,1%'$,.%-( F(1$%(2%#95,1%)@01<%"*/$%SWBB%&('',4$1
,//$,+%-(%7$%$;/+$))$.%/+05,+0'*%01%4'(3 .022$+$1-% 2(+5)% (2% &(14$10-,'% 59)&9',+ 0)%,%-+,1)5$57+,1$%/+(-$01%01%-*/$%L%-(3
5$+9',+% 7,)$5$1-% 5$57+,1$)C% ,1. .*)-+(/#*C% A0-#% 59'-0/'$% :(01-% &(1-+,&3 /(4+,/#*c%-#,-%0)C%-#$%,501(3-$+501,'%$1.
-#$0+%05/(+-,1&$%2(+%+$1,'%/#*)0('(4*%0) -9+$)C% ',;0-*% (2% .0)-,'% :(01-)C% ,1.% &#,+,&3 0)% 01-+,&$''9',+C% A#$+$,)% -#$% &,+7(;*3
01.0&,-$.% 7*% -#$% 2,&-% -#,-% 59-,-0(1)% 01 -$+0)-0&%)@01%018('8$5$1-<L= -$+501,'%$&-(.(5,01%0)%01% -#$% $;-+,&$''93
-#$% 4$1$% $1&(.014% -#$% MGBWJ% /('*/$/3 !"#$%.&&%'())*+$,_-#$%5,:(+C%02%1(- ',+% )/,&$<LK% "#$% $&-(.(5,01% &(1)0)-)% (2
-0.$% +$)9'-% 01% X'/(+-% )*1.+(5$C=L% ,1% S3 -#$%$;&'9)08$C%&(5/(1$1-%(2%-#$%,1&#(+3 =M%&('',4$1(9)%.(5,01)%A0-#%-#$%&#,+,&3
'01@$.%+$1,'%.0)$,)$<%H9+-#$+5(+$C%,9-(3 014% 67+0')% ,-% -#$% .$+5,'3$/0.$+5,'% 7,)$3 -$+0)-0&%+$/$,-014%P'*3S3T%)$R9$1&$)%-#,-
,1-07(.0$)%+$&(410F014%-#$% NGBWJ%&#,01) 5$1-% 5$57+,1$% F(1$_A,)% (+0401,''* 2(+5% -+0/'$% #$'0&$)<LD% "#$)$% &('',4$1(9)
91.$+'0$% P((./,)-9+$% )*1.+(5$<=N% H03 .$)041,-$.% ,)% '(143&#,01% &('',4$1% 7$3 .(5,01)% ,+$% )$/,+,-$.% 7*% 1(13&('',4$3
1,''*C% -#$% M% &#,01% (2% -*/$% BW% &('',4$1 &,9)$%0-%#,)%,1%919)9,''*%'(14%-+0/'$3#$'03 1(9)%)$45$1-)%(2%8,+0,7'$%)0F$)C%,1.%&(13
#,)%7$$1%)#(A1%-(%7$%,%-,+4$-%(2%&0+&93 &,'%+$40(1%(2%,//+(;05,-$'*%?ME%15<LL%B- )$R9$1-'*%-*/$%SWBB%&('',4$1%0)%,%/+(-$01
',-014% 05591(4'(79'01% P% ,9-(,1-07(.3 #,)% (1'*% (1$% -*/$% (2% % &#,01C% =GWBBJC &#,+,&-$+0F$.% 7*% ,'-$+1,-014% &('',4$1(9)
0$)%01%,%1(8$'%,9-(05591$%.0)$,)$%%&#,+3 ,1.%-#$%-+0/'$3#$'0&,'%&('',4$1(9)%.(5,01 ,1.% 1(13&('',4$1(9)% )$45$1-)<LK% "#$
,&-$+0F$.% 7*% )973$/0.$+5,'% 7'0)-$+)% ,1. 0)% ^,1@$.% 7*% ,% ',+4$C% 1(1#$'0&,'% G1(13 -*/$% SWBB% &('',4$1% 4$1$% A,)% 5,//$.% -(
+$1,'%01)926&0$1&*<=? &('',4$1(9)J%.(5,01%G`Q3=J%,-%-#$%,501( -#$%'(14%,+5%(2%#95,1%&#+(5()(5$%=E<
!"#$% .% '())*+$,% &(1)0)-)% (2% ,% )973 -$+5019)%,1.%,%)#(+-$+%&,+7(;*'3-$+501,' "#0)% '(&,-0(1% 0)% .0)-01&-% 2+(5% ,1*% /+$803
2,50'*% (2% )050',+% 01-$++$',-$.% &('',4$1) 1(1#$'0&,'% .(5,01% G`Q3LJ<% "*/$% WBB% &('3 (9)'*% 5,//$.% &('',4$1)% ,1.% ,')(% .0)-013
-#,-% &(1-,01% 2(9+% .022$+$1-% -*/$)% (2% ',4$1% 5('$&9'$)% 7$&(5$% (+4,10F$.% 01-( 490)#$)%adXPL%2+(5%adXP=C%-#$%LNE3@.
&#,01)<% "#$% /+$.(501,1-% 2(+5% 01% -#$ ,1&#(+014%67+0')C%A#0&#%$;-$1.%2+(5%-#$ 79''(9)% /$5/#04(0.% ,1-04$1C% A#0&#% #,)
)@01%0)%Z =GWJ[L LGWJ<%"*/$%W%&('',4$1%0) '(A$+% /,+-% (2% -#$% ',501,% .$1),% -(% -#$ 7$$1% 5,//$.% -(% -#$% )#(+-% ,+5% (2% &#+(3
/+$)$1-%01%5()-%&(11$&-08$%-0))9$)<%B1%-#$ /,/0'',+*% .$+50)C% -#+(94#% -#$% 2(+5,-0(1 5()(5$% I<L!% "#$% 05/(+-,1&$% (2% -#$
)@01%-*/$%W%&('',4$1%+$/+$)$1-)%'$))%-#,1 (2%,1-0/,+,''$'%.05$+)%'01@$.%-#+(94#%-#$0+ -*/$% SWBB% &('',4$1% A,)% ,')(% )#(A1% 7*
M%/$+&$1-%(2%-#$%-(-,'%&('',4$1<%B1%.$+50)C &,+7(;*'3-$+501,'%$1.)<%"#$%',+4$%,501(3 59-,-0(1)% 01% -#$% &(++$)/(1.014% 4$1$
-*/$%W%&('',4$1%0)%,))(&0,-$.%A0-#%5,:(+ -$+501,'C% 1(13&('',4$1(9)% .(5,01)% (2 74=>?@3?8%-#,-%91.$+'0$%,%1(1'$-#,'%8,+03
&('',4$1%67$+)%&(1)0)-014%(2%-*/$%B%,1.%BBB -*/$% WBB% &('',4$1% 01-$+,&-% A0-#% -*/$% BW ,1-% (2% :91&-0(1,'% $/0.$+5('*)0)% 79''(),C
&('',4$1)C% ,1.% -*/$% W% &('',4$1% #,)% 7$$1 &('',4$1% ,1.% ',501013M% &(5/(1$1-)% (2 4$1$+,'0F$.% ,-+(/#0&% 7$1041% $/0.$+5('*3
/()-9',-$.%-(%+$49',-$%-#$%67$+%.0,5$-$+ -#$% .$+5,'3$/0.$+5,'% 7,)$5$1-% 5$53 )0)% 79''(),% G)$$% Q#,/<% IEJ<LKCNE% "#$)$% /,3
.9+014%67+0''(4$1$)0)<%"#$%05/(+-,1&$%(2 7+,1$C% ,1.% 0-% #,)% 7$$1% )944$)-$.% -#,- -0$1-)% #,8$% /+(-+,&-$.C% '02$'(14% 7'0)-$+014
-*/$% W% &('',4$1% #,)% 7$$1% .$5(1)-+,-$. 5()-% ,1&#(+014% 67+0')% 2(+5% !3)#,/$. (2% -#$% )@01C% ,-+(/#0&% )&,++014C% ,'(/$&0,C
7*%.0)&(8$+*%(2%59-,-0(1)%01%-#$%-*/$%W '((/)% -#,-% $1-+,/% 7+(,.% .$+5,'% &('',4$1 ,1.%1,0'%.*)-+(/#*<
&('',4$1% 4$1$)% 01% /,-0$1-)% A0-#% &',))0&,' 67$+)% &(1)0)-014% (2% -*/$% B% ,1.% BBB% &('3
,9-()(5,'% .(501,1-% 2(+5)% G-*/$)% B% ,1. ',4$1)<LN% "#9)C% ,'-$+,-0(1)% 01% -#$% $;/+$)3
.6BB>HF8'AF8F'#:?7=:7?F
BBJ%(2%\#'$+)3],1'()%)*1.+(5$<=MC=I%B-%0)%(2 )0(1C% )-+9&-9+$C% (+% 5('$&9',+% 01-$+,&-0(1)
01-$+$)-% -#,-% ,% &'010&,''*% )050',+C% &',))0&,' (2% -*/$% WBB% A0-#% (-#$+% 7,)$5$1-% 5$53 "#$%&('',4$1%4$1$)C%'0@$%5()-%$9@,+*(-0&
-*/$% (2% \#'$+)3],1'()% )*1.+(5$% &,1% 7$ 7+,1$% &(5/(1$1-)% &(9'.% +$)9'-% 01% )@01 4$1$)C% ,+$% ',+4$C% 59'-0$;(1% 4$1$)% 01-$+3
7,)$.% (1% ,7)$1&$% (2% -$1,)&013S% $;/+$)3 2+,40'0-*<% O9&#% ,% )0-9,-0(1% 0)% $;$5/'06$. +9/-$.% ,-% )$8$+,'% /(01-)% 7*% 1(1&(.014
)0(1C%A#0&#%'$,.)%-(%,1%,9-()(5,'%+$&$)3 7*% .*)-+(/#0&% $/0.$+5('*)0)% 79''(), ]`X% )$R9$1&$)% &,''$.% %&A*.&'<N=% "#9)C
)08$% 2(+5% (2% -#$%.0)$,)$<=KC=D% "$1,)&013S G]\aJC% ,% 4+(9/% (2% 5$&#,1(79''(9)% .0)3 -#$% /+(-(-*/0&% $9@,+*(-0&% 4$1$% &(.014
0)% .$8$'(/5$1-,''*% ,))(&0,-$.% A0-#% &('3 $,)$)% &#,+,&-$+0F$.% 7*% 7'0)-$+014% (2% -#$ 2(+% ,% /+(-$01% 0)% 59&#% ',+4$+% -#,1% A(9'.
',4$1% 67+0''(4$1$)0)C% ,1.% 0-)% ,7)$1&$ )@01% ,2-$+% 501(+% -+,95,L?CLM% G)$$% Q#,/)< 7$% /+$.0&-$.% 2+(5% -#$% ,501(% ,&0.% )$3
&(9'.% $;/',01% -#$% /+$)$1&$% (2% .$2$&-08$ M=C%IEJ<%B1%2,&-C%.0)-01&-%59-,-0(1)%01%-#$ R9$1&$)%(2%-#$%61,'%/+(-$01<%X1%$;,5/'$
&('',4$1% 67$+)% )050',+% -(% -#()$% 2(91.% 01 -*/$% WBB% &('',4$1% 4$1$C% QYbKX=C% #,8$ (2%-#$%&(5/'$;0-*%(2%&('',4$1%4$1$)%0)%-#$
/,-0$1-)% A0-#% 59-,-0(1)% 01% -#$% -*/$% W 7$$1% .$5(1)-+,-$.% 01% 5(+$% -#,1% ?EE 01-+(13$;(1%(+4,10F,-0(1%(2%-#$%-*/$%WBB
&('',4$1%4$1$)< 2,50'0$)%A0-#%.022$+$1-%2(+5)%(2%]\aC%,1. &('',4$1% 4$1$% 74=>@3?8% GH04<% I=3NJC
!"#$%.&%'())*+$,%0)%,%+$',-08$'*%,7913 1(1$%(2%-#$%2,50'0$)%A0-#%]\a%)-9.0$.%)( A#0&#% &(1)0)-)%(2%==D%$;(1)C% (1$%(2% -#$
.,1-% &(5/(1$1-% 01% ,% 8,+0$-*% (2% -0))9$)C 2,+%#,)%+$8$,'$.%59-,-0(1)%01%4$1$)%(-#$+ ',+4$)-%1957$+)%01%,1*%/97'0)#$.%4$1$<NL
!DF
H
!"#$ %&'()*+,*)'-.)+/01.'2 !"#J
!# "#
3*&1'245 3*&1'245
DE#.1'20+.-'/ H42'3I
F,'26*G+&*6'02 10/4)*
J KJM++++++++++++++++++++++++++PM$+++++++++++++++++NM+++EJ++++++EN++++++ML+++++$OJ+$O$++++NM++++MK++++++NJ++++++++++++++PLM ++++++++++NN++++$OJ
NP++++++++++++++++++++++$N$+++++++++++++++++++++++++++++$PO++++EL+++$PJ++++$PL+++$DO+++$$M++$LM++$$M+++$KO+++$JE +++++++++++$LL+++$JP
LEP++++++++++++$JN++++++++DDD+++++++++ME+++++++JDL++++++++++DDD+++++++++++JDN+++++++ND++++++N$+++++++JNJ++++++++NL+++++NP EM+ND+EK+M$++++++++KD$
$LL++++++++++++++++++++$JO++++$LL+++++++++++++$JK+++$LM++++++++$JD+++++++++++++$LM++++++++$DK+++$LM++++$DM+++++++++$JM+++$LM +$MD+DP++JM+LK+PD
!"#$+++++++++Q)C#R#S
NN+$JE+$MP++++$OE++++++JDP++NO+$$E+$O$ $JN++JJO++MN+++++DKN+++++EK+$$E+++++DMM+++++$LM++MD+E$+$OM+$OJ+$EP+++JJE++++++JDP+++++JL$
N$++DP++DP+++++MJ+++++++MN++++++++JM+KL+++PD++PO+++DP++++++LK+DP++++++++++++LK+DP++DP+++++++++++++DD++++KL+PO+DP++N$+++DP+++++LK++++++++MJ++++++++LK
J$P++$$P+MJ+MK+EO++++JL$++++++++LOO++++++++NK++++++++++++++++++++++++$JED++++++++++++++++++++++MJ+$$$+$$N+NP+$OD+++DLL+++$$M +NP++++++++EP+N$+++$EK+++MK
JM+++++DO+++N$+DP+DP+N$++++++++DP++++++++++++++PD++LK+++++++++++++++++++++++++++++++++++++++++++++++++++DP+DP++EP+++DP+DP+LN +++++++++DP++$JD++++JO$+++DP++PD++++++PE
$JK+++$MK+++++++DMJ+++++$DJ+$DJ+++$PL++ME+$$M+MN+$JJ++$DJ+N$+JOM++NO+++++++++++++MJJ++++++++++++NJ++$DJ++++$K++$DL++$DO++EP+++J$N+$$E+MP++$LK
LK++++PD+++++LK+++++++++++++DP+++DP++LK+++++++DD+PD+++DP+N$+++PE+++DP+LJ++++++LK+LK+++++++++++++++++++++++++++DP+PO++++$ON++++MJ+++DP+++PO++LK+++++++DP+DP++KM
K$E++++++++++JLM+++++DJM+++++$EN+ML+MD++++DND+++++$OP++$PE++EP+$ED++++++++KLN+++++++$DE+++JON++$JE+++++++++DPO
MJ++++++++++++++++MJ+++++++DP++++++++N$+++++KL+KL+PD++++++++++PD++$$M++++MN+++KL+++++LE+++++++++++++++++++++DD++++NM++++++++ED++++++$EN+++++++++++++++++++++DKO
Q)C#R+S++++++!"#J
2=>?@-,A"BG #:?7=:7?>B'6?H>89\>:968'6J':<F':NIF'0""'=6BB>HF8'I6BNIFI:9@FU':<F' 4R0""V'=<>98U'>E'@F@7=F@'J?6G'G6BF=7B>?'=B6898HU'>8@':<F'98:?68;FM68'6?H>89;
\>:968'6J':<F'=6??FEI68@98H'HF8FU'234567D HI')<F' 4R0""V'I6BNIFI:9@F'=68E9E:E'6J'>':?9IBF;<FB9=>B'@6G>98':<>:'=68:>98E'9GIF?JF=:968E'6?'98:F??7I:968E'98':<F'ABN;
X;`'?FIF>:'EF^7F8=FU'98=B7@98H'>'_bk>G986'>=9@'l<98HFm'?FH968D')<F'=F8:?>B'=6BB>HF867E'@6G>98'9E']>8YF@'LN'868;=6BB>HF867E'EFHGF8:EU':<F'>G986;:F?G98>B
/.;4'@6G>98U'>8@':<F'=>?L6MNB;:F?G98>B'/.;i'@6G>98D')<F'/.;4'@6G>98'=68E9E:E'6J'E7LG6@7BFE'Z9:<'<6G6B6HN':6'Y86Z8'>@<FE9QF'I?6:F98EU'>E'98@9=>:F@'LF;
B6Z':<F'G6BF=7BFD')<F'/.;i'@6G>98'<>E'>'EFHGF8:'6J'<6G6B6HN'Z9:<':<F'n789:\'I?6:F98>EF'98<9L9:6?'G6BF=7BFD'JI,)<F':NIF'0""'=6BB>HF8'HF8F'=68E9E:E'6J'>':6:>B
6J'44f'FM68E'R8,)/%"$9!:9*"1'VU'Z<9=<'>?F'EFI>?>:F@'J?6G'F>=<'6:<F?'LN'98:F?QF898H'868=6@98H'98:?689='EF^7F8=FE'R#*)%;*&/$9!9%&,'VD')<F'E9\FE'R98'L>EF'I>9?EV'6J
:<F'98:?68E'R>L6QF':<F'B98FEV'>8@':<F'FM68E'R:,9*<!/#,!:9*"1'V'>?F'98@9=>:F@D'ABN'j'HBN=98FD'g+6@9KF@'J?6G'.<?9E:9>86',+'F:'>Bc'#:?7=:7?>B'6?H>89\>:968'6J':<F'<7;
G>8':NIF'0""'=6BB>HF8'HF8F'R.$-O,4VU'=6GI6EF@'6J'G6?F'FM68E':<>8'>8N'I?FQ967EBN'=<>?>=:F?9\F@'HF8FD'=,&*>%"' D"c43bU'4bbSU'Z9:<'IF?G9EE968Dh !D"
]9+014% -#$% $,+'*% )-,4$)% (2% 4$1$% $;3 5$57+,1$)% (2% -#$% +(94#% $1.(/',)50& .+(;*/+('01$% GH04<% I=3MJ<% O5,''% ,5(91-)
/+$))0(1C% -#$% $1-0+$% 4$1$% 0)% -+,1)&+07$. +$-0&9'95% ,1.% 8$&-(+0,'% +$'$,)$% (2% -#$ (2%#*.+(;*/+('01$%,+$%,')(%2(91.%01%$',)3
01-(% ,% #04#35('$&9',+3A$04#-% /+$&9+)(+ 1,)&$1-% /('*/$/-0.$)% 01-(% -#$% &0)-$+1,$ -01C%,)%A$''%,)%01%)(5$%/+(-$01)%01%A#0&#
5$))$14$+% V`X% G5V`XJC% A#0&#% 0)% , (2% -#$% +(94#% $1.(/',)50&% +$-0&9'95< -#$%&('',4$1(9)%.(5,01)%,+$%,%501(+%/(+3
&(5/'$5$1-,+*% &(/*% (2% -#$% &(.014 ]9+014%-#$%-+,1)5$57+,1$%-+,1)/(+-%(2 -0(1% (2% -#$% 5('$&9'$C% )9&#% ,)% ,&$-*'&#(3
)-+,1.% (2% -#$% .(97'$3#$'0&,'% ]`X<% "#$ -#$%/('*/$/-0.$)C%-#$%)041,'%)$R9$1&$%0) '01$)-$+,)$C% -#$% Q=R% &(5/(1$1-% (2% -#$
/+$&9+)(+% 5V`X% 91.$+4($)% /()-3-+,13 $1F*5,-0&,''*% +$5(8$.% 01% ,% +$,&-0(1 &(5/'$5$1-% )*)-$5C% -#$% 5,&+(/#,4$
)&+0/-0(1,'% 5(.06&,-0(1)C% )9&#% ,)% &,/3 &,-,'*F$.%7*%)041,'%/$/-0.,)$%G",7'$%I=3LJ< )&,8$14$+% /+(-$01)C% ,1.% $&-(.*)/',)01% X
/014% ,1.% /('*,.$1*',-0(1C% ,1.% -#$% 013 "#$%/('*/$/-0.$)%+$'$,)$.%01)0.$%-#$%'93 G)$$%+$2)<%=C%IC%,1.%KJ<%"#$%#*.+(;*/+('01$
-+(1)%,+$%+$5(8$.%7*%)/'0&014%-(%*0$'.%, 5$1% (2% -#$% +(94#% $1.(/',)50&% +$-0&93 01% &('',4$1% 0)% 2(91.% 01% -A(% 0)(5$+0&
'01$,+C% 9101-$++9/-$.% &(.014% )$R9$1&$ '95% ,+$% -$+5$.% B*. ! "#$%&'% ,1.% ,+$ 2(+5)< 6*$&'3?3#*.+(;*3b3/+('01$% ,&3
A0-#% M % ,1.% N % 91-+,1)',-$.% ^,1@014% +$3 ',+4$+% -#,1% &('',4$1% % &#,01)% 7$&,9)$ &(91-)% 2(+% 5(+$% -#,1% !M% /$+&$1-% (2% -#$
40(1)<%"#$%5,-9+$%5V`X%0)%-#$1%-+,1)3 -#$*% &(1-,01% ,..0-0(1,'% /$/-0.$% )$3 -(-,'%#*.+(;*/+('01$%01%-*/$%B%,1.%-*/$%BBB
/(+-$.% 01-(% -#$% &*-(/',)5% ,1.% -+,1)3 R9$1&$)% ,-% 7(-#% $1.)% (2% -#$% 5('$&9'$< &('',4$1)<% "#$% 501(+% 2(+5% 0)% A*$&'3N3
',-$.%01%&$'')C%)9&#%,)%.$+5,'%67+(7',)-)C "#$)$% 1(13&('',4$1(9)% $;-$1)0(1% /$/3 #*.+(;*3b3/+('01$C% A#0&#% 0)% 2(91.% 01
-(%-#$%&(++$)/(1.014%/('*/$/-0.$< -0.$)%,+$%.022$+$1-%2+(5%-#$%&('',4$1(9) 4+$,-$+% ,5(91-)% 01% -*/$% BW% &('',4$1<% X
e0-#% 2$A% $;&$/-0(1)C% -#$% &('',4$1 /(+-0(1%(2%-#$%5('$&9'$%01%-#,-%-#$*%.( &+0-0&,'% ,5(91-% (2% A*$&'3?3#*.+(;*3b3
4$1$)% ,+$% A0.$'*% )&,--$+$.% -#+(94#(9- 1(-%#,8$%4'*&01$%01%$8$+*%-#0+.%/()0-0(1 /+('01$%0)%,%/+$+$R90)0-$%2(+%-#$%2('.014%(2
-#$% #95,1% 4$1(5$<=% H(+% $;,5/'$C% -#$ ,1.% (2-$1% &(1-,01% 5(-02)% #(5('(4(9) %&#,01)%01-(%-#$%-+0/'$%#$'0;C%-#$%&(12(+3
4$1$)% &(.014% 2(+% -#$% -A(% &(1)-0-9$1- A0-#%)$R9$1&$)%2(91.%,)%790'.014%7'(&@) 5,-0(1%+$R90+$.%2(+%-#$%1(+5,'%)$&+$-0(1
/('*/$/-0.$% &#,01)% (2% -*/$% B% &('',4$1C 01% (-#$+% $;-+,&$''9',+% 5,-+0;% /+(-$01)C (2%/+(&('',4$1%5('$&9'$)%(9-%(2%-#$%&$'')
=GBJ% ,1.% LGBJC% ,+$% '(&,-$.% (1% )$/,+,-$ )9&#% ,)% -#$% 67+(1$&-01% BBB% .(5,01C% 8(1 GH04<% I=3IJ<% "#9)C% 01% -#$% ,7)$1&$% (2
&#+(5()(5$)C% =K% ,1.% KC% +$)/$&-08$'*< e0''$7+,1.%2,&-(+%X%.(5,01C%,1.%-#+(53 #*.+(;*/+('01$C% &('',4$1% /('*/$/-0.$)
f1(A'$.4$% (2% -#$% /+$&0)$% &#+(5()(5,' 7()/(1.01%`3-$+501,'%.(5,01%)$R9$1&$)< A(9'.% 1(-% 2(+5% -#$% &+0-0&,'% -+0/'$3#$'0&,'
'(&,-0(1%(2%-#$%4$1$)%&(.014%2(+%&('',4$1) B-%)#(9'.%7$%1(-$.%-#,-C%01%)/0-$%(2%-#$0+ )-+9&-9+$% 91.$+% /#*)0('(40&% &(1.0-0(1)C
01%#95,1%)@01%#,)%,''(A$.%0.$1-06&,-0(1 #(5('(4*C% -#$)$% .(5,01)% .(% 1(-% #,8$ ,1.% 1(% 291&-0(1,'% &('',4$1% 67$+)% A(9'.
(2%/('*5(+/#0&%5,+@$+)%A0-#01%-#$%4$1$) -#$%291&-0(1,'%&#,+,&-$+0)-0&)%(2%-#$%(+043 ,//$,+%01%-#$%$;-+,&$''9',+%)/,&$<
,1.% 01% -#$% ^,1@014% ]`X% 2(+% 9)$% 01% 4$3 01,'%/+(-$01)< "#$%#*.+(;*/+('01$)%,+$%)*1-#$)0F$.
1$-0&%'01@,4$%)-9.0$)<%B1%,..0-0(1C%)(/#0)3 7*% #*.+(;*',-0(1% (2% &$+-,01% /+('*'% +$)03
-0&,-$.% 59-,-0(1% .$-$&-0(1% )-+,-$40$)C 26E:;)?>8EB>:968>B'+6@9K=>:968E' .9$)%-#,-%,+$%,'+$,.*%01%-#$%1$A'*%/+(3
7,)$.%(1%)&,11014%(2%-#$%4$1$)C%#,8$%'$. .9&$.% &('',4$1% /('*/$/-0.$)% G)$$% H04<
-(%0.$1-06&,-0(1%(2%,%',+4$%1957$+%(2%593 6J'26BNIFI:9@F'.<>98E I=3MJ<% "#$% 2(+5,-0(1% (2% A*$&'3?3% ,1.
-,-0(1)% 01% .022$+$1-% &('',4$1% 4$1$)% A0-# X2-$+% -#$% ,))$57'*% (2% ,501(% ,&0.)% 01-( A*$&'3N3#*.+(;*3b3/+('01$% 0)% &,-,'*F$.
&#,+,&-$+0)-0&%/#$1(-*/0&%&(1)$R9$1&$)<= /+$3/+( % &#,01)% (1% -#$% +07()(5$)C% -#$ 7*% -A(% )$/,+,-$% $1F*5$)_/+('*'3?3
/('*/$/-0.$)% 91.$+4(% )$8$+,'% 5(.06&,3 #*.+(;*',)$% ,1.% /+('*'3N3#*.+(;*',)$C
)?>8EB>:968'6J'.6BB>HF8'26BNIFI:9@FE -0(1)% 7$2(+$% -#$% &(5/'$-$.% &('',4$1 A#0&#% 7(-#% +$R90+$% 5('$&9',+% (;*4$1C
5('$&9'$)%,+$%.$/()0-$.%01-(%$;-+,&$''93 2$++(9)% 0+(1C% 3@$-(4'9-,+,-$C% ,1.% ,% +$3
g1.$+% /#*)0('(40&% &(1.0-0(1)C% 67+0'3 ',+% 67$+)% G)$$% H04<% I=3?J<% U()-% (2% -#$)$ .9&014% ,4$1-C% )9&#% ,)% ,)&(+7,-$% ,)% &(3
2(+5014% &('',4$1% 5('$&9'$)% )/(1-,1$3 5(.06&,-0(1% +$,&-0(1)% ,+$% &,-,'*F$.% 7* )97)-+,-$)%(+%&(32,&-(+)%2(+%-#$%+$,&-0(1)
(9)'*% ,))$57'$% 01-(% 01)('97'$% 67$+)< )/$&06&%$1F*5$)C%,1.%5,1*%(2%-#$%5(.03 G)$$ H04<%I=3M%,1.%",7'$%I=3LJ<
"#0)% (7)$+8,-0(1% /+$)$1-$.% ,% '(40)-0& 6&,-0(1)%,+$%&#,+,&-$+0)-0&%(2%-#$%70()*13 "#$% #*.+(;*',-0(1% (2% ,//+(/+0,-$
/+(7'$5C% 7$&,9)$% 0-% A,)% .026&9'-% -(% 803 -#$)0)%(2%&('',4$1%G",7'$)%I=3L%,1.%I=3NJ< /+('*'% +$)0.9$)% 7$401)% A#0'$% -#$% /+(
)9,'0F$% #(A% ,% &('',4$1% 5('$&9'$% &(9'. "#$%/()-3-+,1)',-0(1,'%5(.06&,-0(1%+$,&3 &#,01)% ,+$% 4+(A014% (1% -#$% +07()(5$)C
7$% )*1-#$)0F$.% 01)0.$% -#$% &$''% ,1.% -#$1 -0(1)%(2%&('',4$1%01&'9.$%G=J%)*1-#$)0)%(2 ,1.% -#$% #*.+(;*',-0(1% 0)% &(5/'$-$.
)$&+$-$.% 01-(% -#$% $;-+,&$''9',+% )/,&$ #*.+(;*/+('01$% 7*% #*.+(;*',-0(1% (2% )$3 )((1% ,2-$+% -#$% +$'$,)$% (2% 29''3'$14-#
A0-#(9-% /+$5,-9+$% ,))$57'*% (2% -#$ '$&-$.% /+('*'% +$)0.9$)c% GLJ% )*1-#$)0)% (2 /('*/$/-0.$%&#,01)%2+(5%-#$%+07()(5$)<
5('$&9'$)% 01-(% 01)('97'$%67$+)<%"#$%)(3 #*.+(;*'*)01$% 7*% #*.+(;*',-0(1% (2% )$3 "#$% $1F*5$% /+('*'3?3#*.+(;*',)$% #,)
'9-0(1%-(%-#0)%/+(7'$5%A,)%2(91.%01%-#$ '$&-$.% '*)*'% +$)0.9$)c% GNJ% ,--,$1-% (2 7$$1%'(&,'0F$.%-(%-#$%+(94#%$1.(/',)50&
.$5(1)-+,-0(1% -#,-% &('',4$1% 0)% 010-0,''* &,+7(#*.+,-$)C% 4,',&-()$% (+% 4'9&()*'4,3 +$-0&9'95%G)$$%H04<%I=3IJ<%d+('*'%#*.+(;3
)*1-#$)0F$.% ,)% ,% ',+4$+% /+$&9+)(+% 5('$3 ',&-()$C% (1-(% &$+-,01% #*.+(;*'*)*'% +$)03 *',)$)% .(% 1(-% #*.+(;*',-$% /+('*'% +$)03
&9'$C% /+(&('',4$1C% -#,-% 0)% )('97'$% 91.$+ .9$)c% G?J% &#,01% ,))(&0,-0(1C% .0)9'6.$ .9$)% 02% -#$% &('',4$1% )97)-+,-$% 0)% 01% ,
/#*)0('(40&%&(1.0-0(1)< 7(1.014C% ,1.% -+0/'$3#$'0;% 2(+5,-0(1c -+0/'$3#$'0&,'% &(12(+5,-0(1<% a$&,9)$% -+03
"#$%/+$&9+)(+%/('*/$/-0.$)%(2%/+(&('3 GMJ% /+(-$('*-0&% &(18$+)0(1% (2% /+(&('3 /'$3#$'0;%2(+5,-0(1%-,@$)%/',&$%01%-#$%&0)3
',4$1C%)(3&,''$.%B*1,B*. !"#$%&'C%,+$%)*13 ',4$1%-(%&('',4$1c%,1.%GIJ%67$+%2(+5,-0(1 -$+1,$% (2% -#$% +(94#% $1.(/',)50&% +$-0&93
-#$)0F$.%(1%-#$%+07()(5$)%(2%-#$%+(94# ,1.% &+())3'01@014<% Q9++$1-% $80.$1&$% 013 '95% #*.+(;*/+('01$% 2(+5,-0(1% 59)-% 7$
$1.(/',)50&% +$-0&9'95% 01% 67+(7',)-) .0&,-$)%-#,-%5(.06&,-0(1%+$,&-0(1)%G=J%-( &(5/'$-$.% 7$2(+$% -#$% /+(&('',4$1% 5('$3
,1.% +$',-$.% &$'')% GH04<% I=3?J<% "#0)% 010-0,' G?J%,+$%01-+,&$''9',+%$8$1-)C%A#$+$,)%/+(3 &9'$)%'$,8$%-#0)%&$''9',+%&(5/,+-5$1-<
-+,1)',-0(1%/+(.9&-C%-#$%/+$3/+( %&#,01C -$('*-0&%&(18$+)0(1C%67$+%2(+5,-0(1C%,1. d+('*'% #*.+(;*',)$% +$R90+$)% ,% +$.9&014
&(1-,01)% ,1% ,501(3-$+501,'% )041,'% G(+ &+())3'01@014% /+(7,7'*% -,@$% /',&$% $;-+,3 ,4$1-C% )9&#% ,)% ,)&(+7,-$C% 2(+% 0-)% ,&-080-*<
'$,.$+J%)$R9$1&$C%,%&#,+,&-$+0)-0&%2$,-9+$ &$''9',+'*%G)$$%H04<%I=3?J< "#$+$2(+$C% ,)&(+70&% ,&0.% .$6&0$1&*% '$,.)
(2% 5,1*% )$&+$-$.% /+(-$01)<% "#$% )041,' -(%,%.$&+$,)$.%2(+5,-0(1%(2%&('',4$1%67$+)<
)$R9$1&$% 0)% +0&#% 01% #*.+(/#(70&% ,501( KLMNO-K=K,P2,OL;@PQLR@PS=M- X% &#,+3 "#0)%$;/',01)%)(5$%(2%-#$%&'010&,'%5,102$)3
,&0.)%,1.%/+(7,7'*%)$+8$)%,)%,%)041,'%2(+ ,&-$+0)-0&% 2$,-9+$% (2% &('',4$1% 0)% -#$% /+$)3 -,-0(1)% 01% )&9+8*C% )9&#% ,)% /((+% A(91.
,--,$1-% (2% -#$% +07()(5$)% -(% -#$ $1&$% (2% +$',-08$'*% ',+4$% ,5(91-)% (2% #*3 #$,'014% ,1.% .$&+$,)$.% -$1)0'$% )-+$14-#% (2
!DD
HI,=*/4!1)&&7&!4,./)U.V
$T+%&.25).3'02+0=+(&*#(&0 +-,.'25+02+3,*+&'>0501*5+
++++0=+3,*+&046,+*2/0().51'-+&*3'-4)41
JT+")*.<.6*+0=+3,*+5'62.)+5*U4*2-*
DT+VC/&07C).3'02+0=+5*)*-3*/+(&0)C)+.2/+)C5C)+&*5'/4*5
LT+Q)C-05C).3'02+0=+501*+,C/&07C)C5C)+&*5'/4*5
KT+W0&1.3'02+0=+'23*&-,.'2+/'54)='/*+>02/5
PT+W0&1.3'02+0=+3&'()*+,*)'-*5
JI,K)14)/0%*,%9,U4%1%&&!()*
"I,-6/4!1)&&7&!4,<%50901!/0%*.V
$T+")*.<.6*+0=+(*(3'/*+*73*25'025+
++++>C+5(*-'='-+(&03*.5*5
JT+W'>&')+=0&1.3'02
DT+"&055#)'2X'26+0=+-0)).6*2+='>&')5+>C+/*.1'2.3'02+0=+
,C/&07C)C5'2*+.2/+)C5'2*+&*5'/4*5+30+6'<*+.),*,C/*5Y+
=0))0Z*/+>C+-&055#)'2X+=0&1.3'02+>C+&*.-3'02+0=+*'3,*&+
8.;+J+.)/*,C/*5+0&+8>;+$+.)/*,C/*5+.2/+$+ #.1'20
6&04(+02+./[.-*23+10)*-4)*5
2=>?@-,A"BT W96EN8:<FE9E'6J'I?6=6BB>HF8'>8@':<F'>EEFGLBN'6J'=6BB>HF8'G6BF=7BFE'98:6':<F'FM:?>=FBB7B>?'KLF?ED'&.'j'FM:?>=FBB7B>?a'AB=;A>B'j'HB7=6ENBH>B>=;
:6EF'>::>=<F@':6'>'<N@?6MN;BNENB'?FE9@7Fa'".'j'98:?>=FBB7B>?a'G%/,'j'GFEEF8HF?'%/,a'k$*'j'<N@?6MNB'H?67I'6J'<N@?6MN;I?6B98F'6?'<N@?6MNBNE98Fa'%&%'j'?67H<
F8@6IB>EG9='?F:9=7B7GD
-#$%&(11$&-08$%-0))9$)<NN%X1%,1,'(4(9)%)0-3 .+(;*'% 4+(9/)% 01% #*.+(;*/+('01$<% O-9.0$) (;*4$1% '$8$')% 5,*% '050-% -#$% )*1-#$)0)% (2
9,-0(1% 5,*% $;0)-% 01% -0))9$)% A0-#% +$',-08$ 01%,105,'%5(.$')%.$5(1)-+,-$%-#,-%A(91. #*.+(;*/+('01$<N?% "#0)% (7)$+8,-0(1% 5,*
,1(;0,C%7$&,9)$%5('$&9',+%(;*4$1%0)%,%)/$3 #$,'014%0)%+$',-08$'*%/((+%91.$+%#*/(7,+0& ,')(% $;/',01% -#$% .$&+$,)$.% #$,'014% -$13
&06&%+$R90+$5$1-%2(+%-#$%2(+5,-0(1%(2%#*3 &(1.0-0(1)C%,1.%01%)9&#%)0-9,-0(1)%-#$%'(A .$1&*%(2%A(91.)%,1.%9'&$+)%01%/$+0/#$+,'
!DG
!"#$%&'()*
.B0)0&$")%C$%&C'*-'4#D,E"C'80)$%&%F0$%#+'%#'$B"'?%*C,#$B"C%C'*-'.*//0+"#
45G7:40 ;<?;6=364 8=1@<.6 .1HI3.61=; 35@'.1H;<?;6=364;
#9H8>B'IFI:9@>EF />E=F8:'I?F;I?6 '=<>98E' 2?6 '=<>98E' /68F'Y86Z8
2?6BNB;S;<N@?6MNB>EF 2?6BNB'?FE9@7F'98'X;2?6;ABN'EF^7F8=F' S;*N@?6MNI?6B98F $iU'(FioU ;YF:6HB7:>?>:FU'>E=6?;
98'I?6 '=<>98EL L9='>=9@
2?6BNB;_;<N@?6MNB>EF 2?6BNB'?FE9@7F'98'2?6;*NI;ABN' _;*N@?6MNI?6B98F $iU'(FioU ;YF:6HB7:>?>:FU'>E=6?;
EF^7F8=F'98'I?6 '=<>98EL L9='>=9@
-NENB'<N@?6MNB>EF -NENB'?FE9@7F'98'-NE;ABNU'-NE;#F?U'6?' *N@?6MNBNE98F $iU'(FioU ;YF:6HB7:>?>:FU'>E=6?;
-NE;,B>'EF^7F8=F'98'I?6 '=<>98EL L9='>=9@
.6BB>HF8'H>B>=:6ENB':?>8EJF?>EF *N@?6MNBNE98F'98'I?6 '=<>98EL A>B;3;<N@?6MNBNE98F +8ioU'1!2;H>B>=:6EF
.6BB>HF8'HB7=6ENB':?>8EJF?>EF A>B>=:6ENB;3;<N@?6MNBNE98F'98'I?6 AB=;A>B;3;<N@?6MNBNE98F +8ioU'1!2;HB7=6EF
=<>98EL
2?6:F98'@9E7BK@F'9E6GF?>EF= .NE:F98F'?FE9@7FE'98':<F'FM:F8E968E'6J' #;#'L68@E'E:>L9B9\98H':<F'=6?; )<96BE
I?6 '=<>98E ?F=:'I?6:F98'=68J6?G>:968
2?6=6BB>HF8'/;I?6:F98>EF'R,!,+)#;iV 2?6=6BB>HF8'6?'I8;=6BB>HF8 2=;=6BB>HF8'6?'=6BB>HF8@ .>io
2?6=6BB>HF8'.;I?6:F98>EF 2?6=6BB>HF8'I=;=6BB>HF8 28;=6BB>HF8'6?'=6BB>HF8@ .>io
-NENB'6M9@>EFE -NENB'6?'<N@?6MNBNENB'?FE9@7F'98'KL?9BB>?' ,B@F<N@F'@F?9Q>:9QFE'6J'BNE98F'6?' .7ioU'$i
=6BB>HF8 <N@?6MNBNE98F
,!,+)#'j'>'@9E98:FH?98'>8@'GF:>BB6I?6:F>EF'Z9:<':<?6GL6EI68@98'G6:9JEa',B>'j'>B>898Fa'A>B'j'H>B>=:6EFa'AB='j'HB7=6ENBa'ABN'j'HBN=98Fa'*NI'j'<N@?6MNI?6B98Fa'-NE'j'
BNE98Fa'I=;=6BB>HF8'j'=6BB>HF8'G6BF=7BF'Z9:<':<F'.;:F?G98>B'I?6IFI:9@F'E:9BB'>::>=<F@'Z<F?F>E':<F'/;I?6IFI:9@F'<>E'LFF8'?FG6QF@a'I8;=6BB>HF8'j'=6BB>HF8'G6BF=7BF'
Z9:<':<F'/;:F?G98>B'I?6IFI:9@F'E:9BB'>::>=<F@'Z<F?F>E':<F'.;I?6IFI:9@F'9E'=BF>QF@'6JJa'2?6'j'I?6B98Fa'#F?'j'EF?98Fa'1!2'j'7?9@98F'@9I<6EI<>:FD'
>)<F'>=:968'6J':<FEF'F8\NGFE'RZ9:<':<F'FM=FI:968'6J'E9H8>B'IFI:9@>EFV'9E'?FB>:9QFBN'EIF=9K=':6'=6BB>HF8a':<F'=6GIBF:F'EF^7F8=FE'6J'I?6=6BB>HF8'EN8:<FE9E'>8@'=6BB>HF8'
@FH?>@>:968'98Q6BQF'>@@9:968>BU'BFEE;EIF=9K='F8\NGFEU'E7=<'>E':<6EF'6J':?>8E=?9I:968'>8@':?>8EB>:968D
L)<FEF'?F>=:968E'>?F':F?G98>:F@'Z<F8':<F'I?6 '=<>98E'J6B@'98:6':<F':?9IBF;<FB9=>B'=68J6?G>:968D
=":'<>E'86:'LFF8'FE:>LB9E<F@'Z<F:<F?':<F'J6?G>:968'6J'98:F?=<>98'@9E7BK@FE'98'I?6=6BB>HF8'98Q6BQFE'F8\NG>:9='=>:>BNE9EU'>E'6==7?E'98'E6GF'6:<F?'I?6:F98EU'6?'Z<F:<F?'
:<F9?'EN8:<FE9E':>YFE'IB>=F'EI68:>8F67EBND
@"J'98:>=:'I?6=6BB>HF8'9E'7EF@'>E'>'E7LE:?>:FU'I>?:9>BBN'G6@9KF@'I?6@7=:E'>?F'J6?GF@a'<6ZFQF?U'9J':<F'I>?:9>BBN'=BF>QF@'I?6:F98E'RI ;=6BB>HF8U'I ;=6BB>HF8V'EF?QF'>E'E7L;
8 =
E:?>:FEU'=6BB>HF8'9E'I?6@7=F@D
-0))9$)% -#,-% ,+$% ,1(;0&% .9$% -(% +$',-08$'* )*'4,',&-()*'% +$)0.9$)% ,--,&#$.% -(% -#$ .<>98',EE6=9>:968U'!9E7BK@F'
/((+%7'((.%)9//'*< 5('$&9'$<%"#$)$%+$)0.9$)%,+$%,--,&#$.%-(
&('',4$1%/('*/$/-0.$)%.9+014%01-+,&$''9',+
W68@98HU'>8@')?9IBF;*FB9M'(6?G>:968
KLMNO-K=K,P2,OL;@PQLSLK=M- h*.+(;*3 70()*1-#$)0)% 01% ,% )$R9$1-0,'% 5,11$+C% )( X%&+0-0&,'%)-$/%01%-#$%01-+,&$''9',+%70()*13
'*)01$%0)%,1(-#$+%,501(%,&0.%&#,+,&-$+0)-0& -#,-%,%4,',&-()*'%+$)0.9$%0)%6+)-%,..$.%-( -#$)0)% (2% /+(&('',4$1% 0)% -#$% ,))(&0,-0(1
(2%&('',4$1%GH04<%I=3KJ<%]9+014%-#$%01-+,3 -#$%5('$&9'$%,1.%-#$1%,%4'9&()$%5(0$-* (2% -#+$$% /+( % &#,01)% ,1.% )97)$R9$1-
&$''9',+%)*1-#$)0)%(2%/+(&('',4$1C%#*.+(;*3 0)%,--,&#$.%-(%)(5$%(2%-#$%4,',&-()*'%+$)03 2('.014% (2% -#$% &('',4$1% /(+-0(1% (2% -#$
'*)01$%)$+8$)%,)%,1%,--,$1-%)0-$%2(+%-#$ .9$)% G)$$% H04)<% I=3?% ,1.% I=3MJ<% "#$% '01@ /('*/$/-0.$)%01-(%,%-+0/'$%#$'0;%G)$$%H04<
)94,+%+$)0.9$)%,1.%0)%&+0-0&,'%-(%-#$%2(+5,3 7$-A$$1% -#$% &,+7(#*.+,-$% 910-% ,1.% -#$ I=3IJ<% "#$% 1(13&('',4$1(9)% /$/-0.$% $;3
-0(1%(2%&+())3'01@)%-#,-%)-,70'0F$%-#$%$;-+,3 /('*/$/-0.$% 0)% ,1% =34'*&()0.0&% 7(1. -$1)0(1)% (1% -#$% 01.080.9,'% /+( % &#,01)
&$''9',+%&('',4$1%5,-+0;<%H+$$%#*.+(;*3 -#+(94#%-#$%#*.+(;*'%4+(9/%(2%#*.+(;*3 ,))95$%4'(79',+%&(12(+5,-0(1)%)((1%,23
'*)01$%0)%1(-%01&(+/(+,-$.%01-(%1,)&$1- '*)01$<% "#$+$2(+$C% -#$% )*1-#$)0)% (2% #*3 -$+%-#$0+%-+,1)',-0(1C%,1.%-#0)%&(12(+5,3
/('*/$/-0.$%&#,01)C%79-%&$+-,01%'*)*'%+$)03 .+(;*'*)01$% 0)% ,% /+$+$R90)0-$% 2(+% -#$ -0(1% &(1-,01)% -#$% )/$&06&% 012(+5,-0(1
.9$)%01%/$/-0.$%'01@,4$)%,+$%&(18$+-$.%-( 4'*&()*',-0(1%(2%&('',4$1<%"#$%-A(%4'*&(3 -#,-% .0+$&-)% -#$% &(++$&-% ,))(&0,-0(1% (2
#*.+(;*'*)01$<%"#$%#*.+(;*',-0(1%+$,&3 )*',-0(1%+$,&-0(1)%,+$%&,-,'*F$.%7*%)$/,3 -#$% -#+$$% /+( % &#,01)<% O9&#% ,% 5$&#,3
-0(1%0)%&,-,'*F$.%7*%,1%$1F*5$C%'*)*' +,-$C%)/$&06&%$1F*5$)%&,''$.%".++$01&!0$+, 10)5% 504#-% $;/',01% -#$% ,))(&0,-0(1% (2
#*.+(;*',)$C%-#,-C%'0@$%-#$%/+('*'%#*.+(;3 $"A.'C+! A*$&'-1*$'1% ,1.% ".++$01&! 0+D".'C+ /+( =%,1.%/+( L%&#,01)%01%,%/+(/$+%Lj=
*',)$)C%+$R90+$)%(;*4$1C%H$LiC 3@$-(4'93 A*$&'-1*$'1% G)$$% ",7'$% I=3LJ<% "#$)$% $13 +,-0(%.9+014%-#$%)*1-#$)0)%(2%-*/$%B%/+(3
-,+,-$C%,1.%,)&(+7,-$%,)%&(32,&-(+)%,1.%&(3 F*5$)% #,8$% 7$$1% $;-$1)08$'*% /9+06$. &('',4$1<%B-%A(9'.%,')(%$;/',01%-#$%+,/0.
)97)-+,-$)<%"#$%&+0-0&,'%05/(+-,1&$%(2%'*3 2+(5% ,%8,+0$-*% (2% )(9+&$)<% a(-#% (2% -#$5 ,1.% $26&0$1-% ,))(&0,-0(1% (2% -#$% /+(
)*'%#*.+(;*',-0(1%(2%&('',4$1%&,1%7$%)$$1 9)$% 9+0.01$% .0/#()/#,-$% )94,+)% ,)% , &#,01)%,1.%2('.014%(2%-#$%5('$&9'$%01-(
2+(5%-#$%$22$&-)%(2%-#$%.$6&0$1&*%(2%'*)*' )(9+&$% (2% -#$% &,+7(#*.+,-$% ,1.% +$R90+$ -#$% -+0/'$% #$'0;<% "#$% ,))(&0,-0(1% (2% -#$
#*.+(;*',)$%01%/,-0$1-)%A0-#%-#$%)&('0(-0& U1Li%,)%,%&(32,&-(+<%`(-%(1'*%,+$%)94,+) $;-$1)0(1)% ,-% -#$% &,+7(;*'3-$+501,'
2(+5%G-*/$%WBJ%(2%\#'$+)3],1'()%)*13 ,--,&#$.%-(%-#$%#*.+(;*'*)*'%+$)0.9$)%01 $1.)% (2% -#$% /('*/$/-0.$% &#,01)% ,//$,+)
.+(5$C%&#,+,&-$+0F$.%7*%#*/$+$;-$1)07'$ -#$%-+0/'$3#$'0&,'%/(+-0(1%(2%-#$%5('$&9'$C -(% 2,&0'0-,-$% 2('.014% (2% -#$% 5('$&9'$)
)@01C%'(()$3:(01-$.1$))C%)$8$+$%@*/#(3 79-% -#$% 1(1#$'0&,'% $;-$1)0(1% /$/-0.$) 01-(%-#$%-+0/'$%#$'0;C%/$+#,/)%7*%/+(80.3
)&('0()0)C%,1.%(&9',+%2+,40'0-*< &(1-,01% &(5/'$;% &,+7(#*.+,-$)C% &(1)0)-3 014%,%19&'$,-0(1%)0-$%2+(5%A#0&#%-#$%2(+3
014%5,01'*%(2%5,11()$<%"#$%291&-0(1%(2 5,-0(1%(2%-#$%-+0/'$%#$'0;%0)%/+(/,4,-$.
>SL$PKLSHN=PM Q('',4$1% 0)% ,% 4'*&(/+(3 -#$%)94,+%+$)0.9$)%01%&('',4$1%,1.%,')(%01 -#+(94#(9-% -#$% &('',4$1(9)% /(+-0(1% (2
-$01% -#,-% &(1-,01)% 4,',&-()*'% ,1.% 4'9&(3 -#$%$;-$1)0(1%/$/-0.$)%0)%1(-%@1(A1< -#$%5('$&9'$<
!DT
!"#$%&'()+
:0J*)';$"FC'%#'$B"'?%*+"#"C%C'0#K'@"+)0K0$%*#'*-'.*//0+"#'0#K'6B"%)'IL#&$%*#0/';%+#%M&0#&"
;6480 I<5.691532';9!59I9.35.4
"D'&MI?FEE968'6J'HF8FE'=6@98H'J6?'=6BB>HF8'I6BNIFI:9@FE
>D'AF8F'EFBF=:968 !F:F?G98FE':<F'=6BB>HF8'9E6:NIF':6'LF'EN8:<FE9\F@
LD')?>8E=?9I:968' (6?G>:968'6J'G%/,'I?F=7?E6?
=D'2?6=FEE98H'6J'G%/,'I?F=7?E6? (6?G>:968'6J'J78=:968>B'G%/,
@D')?>8EB>:968' ,EEFGLBN'6J'I6BNIFI:9@F'=<>98E
FD'.68:?6B'6J':<F'?>:F'6J':?>8E=?9I:968U'G%/,'I?6=FEE98HU'6?':?>8EB>:968 !F:F?G98FE':<F'>G678:'6J'I6BNIFI:9@F'EN8:<FE9\F@
""D'"8:?>=FBB7B>?'=6;:?>8EB>:968>B'>8@'I6E:;:?>8EB>:968>B'G6@9K=>:968E
>D'%FG6Q>B'6J':<F'E9H8>B'EF^7F8=F +>N'LF'8F=FEE>?N'J6?'EF=?F:968
LD'#N8:<FE9E'6J'S;<N@?6MNI?6B98F' #:>L9B9\>:968'6J':?9IBF'<FB9M
=D'#N8:<FE9E'6J'_;<N@?6MNI?6B98F' 18Y86Z8
@D'#N8:<FE9E'6J'<N@?6MNBNE98F #:>L9B9\>:968'6J'=6Q>BF8:'=?6EE;B98YEa'>::>=<GF8:'E9:F'J6?'HBN=6ENB>:968
FD'#N8:<FE9E'6J'<N@?6MNBNE98F;3;HBN=6E9@FE +>N'98]7F8=F'=?6EE;B98Y'J6?G>:968'>8@'@F:F?G98F':<F'G6?I<6B6HN'>8@'
E:>L9B9:N'6J':<F'KLF?E
JD'ABN=6ENB>:968'6J':<F'FM:F8E968'IFI:9@FE 18Y86Z8
HD'!FH?>@>:968'6J'868<FB9=>B'=<>98E %FG6Q>B'6J'@FJF=:9QF'I6BNIFI:9@FE'>8@'G6@7B>:968'6J'=6BB>HF8'I?6@7=:968
<D'.<>98'>EE6=9>:968'>8@'@9E7BK@F'L68@98H (>=9B9:>:968'6J':?9IBF;<FB9M'J6?G>:968
9D' )?9IBF;<FB9M'J6?G>:968 2?F?F^79E9:F'J6?'I?6IF?'EF=?F:968
"""D'#F=?F:968 )?>8EI6?:'6J'I?6=6BB>HF8':<?67H<'A6BH9'>II>?>:7E':6':<F'FM:?>=FBB7B>?'EI>=F
"0D'&M:?>=FBB7B>?'G6@9K=>:968E
>D'%FG6Q>B'6J':<F'FM:F8E968'IFI:9@FE'J?6G'I?6=6BB>HF8 /F=FEE>?N'J6?'KLF?'J6?G>:968
LD'!F>G98>:968'6J'=F?:>98'BNE98F'>8@'<N@?6MNBNE98F'?FE9@7FE /F=FEE>?N'J6?'=?6EE;B98Y'J6?G>:968
=D'/68F8\NG>:9='HBN=6ENB>:968 +>N'98:F?JF?F'Z9:<'KLF?'J6?G>:968
0D'(9LF?'J6?G>:968
>D',B9H8GF8:'6J':<F'G6BF=7BFE (6?G>:968'6J'G9=?6KL?9BE
LD'(6?G>:968'6J'=?6EE;B98YE #:>L9B9\>:968'6J':<F'KLF?'E:?7=:7?FE
=D'#7I?>G6BF=7B>?'>EEFGLBN' ,?=<9:F=:7?>B'6?H>89\>:968'6J'=6BB>HF8'98':9EE7FE
@D'"8:F?>=:968E'Z9:<'6:<F?'FM:?>=FBB7B>?'G>=?6G6BF=7BFE !F:F?G98F':<F'I<NE96B6H9='I?6IF?:9FE'6J':9EE7FE
0"D'&M:?>=FBB7B>?'@FH?>@>:968
>D'.BF>Q>HF'LN'EIF=9K='=6BB>HF8>EFE %>:F;B9G9:98H'E:FI'98'@FH?>@>:968
LD'(7?:<F?'@FH?>@>:968'LN'IFI:9@>EFE'>8@'F8\NGFE'GF:>L6B9\98H'J?FF' %FG6Q>B'6J'@FH?>@>:968'I?6@7=:E
>G986'>=9@E
G%/,'j'GFEEF8HF?'%/,D
>)<FEF'>?F':<F'G>d6?'E:FIE'98':<F'EF^7F8=F'98'Z<9=<':<FN'>?F'B9YFBN':6'6==7?'78@F?'I<NE96B6H9='=68@9:968E'98'Q9Q6a'<6ZFQF?U'E6GF'6J':<F'?F>=:968E'=>8'6==7?'E9G7B:>;
8F67EBN'6?'98'?FQF?EF'6?@F?D
!FH?>@>:968'>8@')7?86QF?
\;-+,&$''9',+% 5,-+0;% +$5(.$'014% 0)% ,%&(3
(/$+,-08$% 59'-03)-$/% /+(&$))% 018('8014
'(&,'0F$.% .$4+,.,-0(1% (2% -#$% $;0)-014
5,-+0;% &(5/(1$1-)C% 2(''(A$.% 7*% &*-(3
)@$'$-,'% +$,++,14$5$1-C% &$''% -+,1)'(&,3
-0(1C% ,1.% -#$% .$/()0-0(1% (2% 1$A% $;-+,3
&$''9',+% 5,-+0;% &(5/(1$1-)<% X'-#(94#
$,&#%(2%-#$)$%)-$/)%0)%&(1-+(''$.%7*%,%8,3
+0$-*%(2%5('$&9',+%5$&#,10)5)C%-#$%0103
-0,'%)-$/%.$/$1.)%(1%-#$%/+$)$1&$%(2%/+(3
-$01,)$)% &,/,7'$% (2% 010-0,-014% -#$
.$4+,.,-0(1% (2% -#$% 5,-+0;% 5,&+(5('$3
&9'$)<%"#$)$%$1F*5$)%&(5/+0)$%-#$%5,3
-+0;%5$-,''(/+(-$01,)$%GUUdJ%4$1$%2,53 2=>?@-,A"BE !6G>98'E:?7=:7?F'6J'G>:?9M'GF:>BB6I?6:F98>EFE'R++2EVD
0'*CML>M?%A#0&#%01&'9.$)%-#$%&('',4$1,)$)C
-#$% 4$',-01,)$)C% -#$% )-+(5$'*)01)C% -#$ #(5('(4(9)% +$40(1<% "$1% (-#$+% P'*3B'$ ',+%5,))%(2%KM%@.%.9$%-(%,%#04#%.$4+$$%(2
5,-+0'*)01)C% 5$-,''($',)-,)$C% $1,5$3 (+%P'*3b$9%7(1.)%A0-#01%-#$%-+0/'$3#$'03 4'*&()*',-0(1<% B-% 0)% 1(-% 055$.0,-$'*% )$3
'*)01C% ,1.% -#$% 5$57+,1$3-*/$% UUd) &,'% .(5,01% (2% -#$% 01-$+)-0-0,'% &('',4$1) &+$-$.% 79-% 0)% )-(+$.% 01% 1$9-+(/#0'% 4+,13
GH04<%I=3!%,1.%",7'$%I=3?J< ,+$%1(-%&'$,8$.C%A#0&#%)944$)-)%-#,-%-#$ 9'$)% ,1.% +$'$,)$.% (1% )-059',-0(1<% X'3
B1-$+)-0-0,'% &('',4$1,)$% GUUd3=J% A,) '(&,'% &(12(+5,-0(1% (2% -#$% &('',4$1,)$ -#(94#% 7(-#% 67+(7',)-% ,1.% 1$9-+(/#0'
-#$%6+)-%$1F*5$%(2%-#$% UUd%2,50'*% -( &'$,8,4$% )0-$% 0)% ,% 5,:(+% 2,&-(+% 01% .$-$+3 &('',4$1,)$)% #,8$% )050',+% ,2610-0$)% 2(+
7$% .0)&(8$+$.% ,1.% A,)% .$61$.% 7*% 0-) 501014%)97)-+,-$%)/$&06&0-*<%"#0)%+$40(1 -*/$)%B%,1.%BBB%&('',4$1C%67+(7',)-%&('',3
,70'0-*% -(% 7+$,@% .(A1% -+0/'$3#$'0&,'% &('3 0)%5(+$%#*.+(/#(70&%-#,1%(-#$+%/,+-)%(2 4$1,)$% .$4+,.$)% )('97'$% -*/$% BBB% &('3
',4$1%-#,-%0)%+$)0)-,1-%-(%5()-%/+(-$,)$)< -#$%&('',4$1%5('$&9'$%,1.%',&@)%#*.+(;3 ',4$1% A0-#% ,% #04#$+% -9+1(8$+% +,-$C
h95,1% )@01% &('',4$1,)$% A,)% 010-0,''* */+('01$%+$)0.9$)%-#,-%)-,70'0F$%-#$%-+0/'$ A#$+$,)% 1$9-+(/#0'% &('',4$1,)$% .$3
0)(',-$.%01%,&-08$%2(+5%2+(5%&9'-9+$%5$3 #$'0;<%B1.$$.C%#95,1%67+(7',)-%&('',4$3 4+,.$)%)('97'$%-*/$%B%&('',4$1%5(+$%+,/3
.095% (2% )@01% $;/',1-)MM% ,1.% )97)$3 1,)$%&,-,'*F$)%59'-0/'$%&'$,8,4$)%01%-#$ 0.'*<MI% H(+% 7(-#% $1F*5$)C% -#$% .022$+3
R9$1-'*% ,)% ,% /+($1F*5$% 2+(5% 5(1(3 .$1,-9+$.%&#,01)%(2%,''%&('',4$1%-*/$)%,- $1&$)% 01% )/$&06&0-*% ,4,01)-% 5(1(5$+0&
',*$+% 67+(7',)-% &9'-9+$)<MI% U,1*% (-#$+ P'*3B'$% ,1.% P'*3b$9% 7(1.)<% "#9)% 0-% ,/3 &('',4$1)%,+$%',+4$'*%,7('0)#$.%A#$1%-#$
&$''% -*/$)C% 01&'9.014% @$+,-01(&*-$)C% )*3 /$,+)%-#,-% -#$%-+0/'$% #$'0;%(2%1,-08$%&('3 )97)-+,-$)% ,+$%+$&(1)-0-9-$.% 01-(%-#$% 013
1(80,'% &$'')C% ,1.% 5(1(&*-$)35,&+(3 ',4$1% &,1% .+,)-0&,''*% ,'-$+% -#$% ,70'0-*% (2 )('97'$%67+0'',+%2(+5)%2(91.%01%-0))9$)<
/#,4$)C%$;/+$))%,1%0.$1-0&,'%$1F*5$<%B13 #95,1% 67+(7',)-% &('',4$1,)$% -(% &,-,3 B5/(+-,1-% 5$&#,10)-0&% 012(+5,-0(1
-$+)-0-0,'% &('',4$1,)$C% '0@$% -#$% (-#$+ '*F$% &'$,8,4$)% -#,-% A(9'.% 7$% /$+50))03 (1% &('',4$1% .$4+,.,-0(1% #,)% +$&$1-'*
UUd)C%&(1-,01)%01-+01)0&%F01&%01%-#$%,&3 7'$% 2+(5% /+05,+*% )$R9$1&$% &(1)0.$+3 $5$+4$.C% ,1.% )/$&06&,''*C% 0-% #,)% 7$$1
-08$%)0-$%,1.%+$R90+$)%&,'&095%2(+%0-)%,&3 ,-0(1% ,'(1$<% U(+$(8$+C% $8$1% 91.$+ )#(A1MK% -#,-% ,&-08,-$.% &('',4$1,)$
-080-*%,1.%-#$+5()-,70'0F,-0(1< (/-05,'% &(1.0-0(1)% (2% &'$,8,4$C% &('3 GUUd3=J%5(8$)%/+(&$))08$'*%(1%&('',4$1
B1-$+)-0-0,'% &('',4$1,)$% .$4+,.$)% &('3 ',4$1% .$4+,.,-0(1% 7*% #95,1% 67+(7',)- 67+0')%01%A#0&#%-#$%5$&#,10)5%(2%5(8$3
',4$1%-*/$)%BC%BBC%BBBC%WBBC%,1.%S%G79-%.($) &('',4$1,)$% /+(&$$.)% )'(A'*% 2(+% ,1% $13 5$1-% 0)% ,% 70,)$.% .0229)0(1% A0-#% -#$% 703
1(-%.$4+,.$%&('',4$1%-*/$%BW%,1.%WJ<%X- F*5,-0&% /+(&$))C% A0-#% ,% -9+1(8$+% 1953 ,)$.% &(5/(1$1-% (2% -#$% 5(-0(1% .$/$1.3
/#*)0('(40&%/h%,1.%-$5/$+,-9+$%-#$%$13 7$+% (2% ,//+(;05,-$'*% LM% 5('$&9'$)% (2 014%(1%-#$%/+(-$('*)0)%(2%&('',4$1%,1.%1(-
F*5$% &,-,'*F$)% ,% )014'$% &'$,8,4$% -#+$$3 67+0'',+% &('',4$1% .$4+,.$.% /$+% 5('$&9'$ (1% X"d% #*.+('*)0)<% U()-% 05/(+-,1-'*C
R9,+-$+% (2% -#$% .0)-,1&$% 2+(5% -#$% ,501( (2%&('',4$1,)$%/$+%#(9+< -#$% &'()$'*% +$',-$.% 5,-+0;% 5$-,''(/+(3
-$+5019)% 01% $,&#% (2% -#$% -#+$$% /('*/$/3 h95,1%1$9-+(/#0'%01-$+)-0-0,'%&('',4$3 -$01,)$)C% UUd3L% G4$',-01,)$JC% UUd3!C
-0.$%&#,01)%&(5/+0)014%-#$%-+0/'$3#$'0&,'C 1,)$% GUUd3DJ% ,--,&@)% &('',4$1)% ,-% -#$ ,1.% -#$% $;-+,&$''9',+% /(+-0(1% (2% -#$
1,-08$% &('',4$1% 5(1(5$+<% Q('',4$1,)$ ),5$%)0-$%,)%.($)%67+(7',)-% &('',4$1,)$ 5$57+,1$% ,))(&0,-$.% 5$-,''(/+(-$013
)/$&06&,''*%&'$,8$)%-#$% =GBJ%&#,01)%,-%, -(%/+(.9&$%-#$%&#,+,&-$+0)-0&%-#+$$3R9,+3 ,)$C% U"=3UUd% &,1% ,')(% .0229)$% (1% &('3
P'*3B'$% G4'*&01$30)('$9&01$J% 7(1.% G+$)03 -$+k(1$3R9,+-$+%&('',4$1%2+,45$1-)<%"#$ ',4$1% 67+0')<% "#$)$% )-9.0$)% ,')(% )#(A
.9$)%KKM%,1.%KKIJ%,1.%-#$% LGBJ%&#,01%,- &'(1$.%$1F*5$%0)%#04#'*%#(5('(4(9)%-( -#,-% ,% &('',4$1('*-0&% U"=3UUd% &(53
,% P'*3b$9% G4'*&01$3'$9&01$J% 7(1.% 01% -#$ 67+(7',)-%&('',4$1,)$%79-%#,)%,%5('$&93 /'$;%$;0)-)%,-%-#$%&$''%)9+2,&$<%"#$%U"=3
!DC
!"#$%&'(),
:0$)%N':"$0//*F)*$"%#0C"C'O::8CP
8=145G7:4
:124.<23=
45G7:4 ::8'5<:?4= 3264=5364'53:4 Q49!(6 R51Q5':36=9S';<?;6=364;
"8:F?E:9:9>B'=6BB>HF8>EF ++2;4 )NIF'"'=6BB>HF8>EF TiUPPP .6BB>HF8E'"U'""U'"""U'0""U'0"""U'XU'F8:>=:98U':F8>E=98U'>HH?F=>8U'@F8>:7?F@'
=6BB>HF8EU'98:F?BF7Y98;4 U'GNFB98'L>E9='I?6:F98U'-;EFBF=:98
/F7:?6I<9B'=6BB>HF8>EF ++2;f p OTUPPP .6BB>HF8E'"U'""U'"""U'0U'0""U'0"""U'XU'HFB>:98U'>HH?F=>8U'KL?68F=:98
.6BB>HF8>EF;_ ++2;4_ p TiUPPP .6BB>HF8E'"U'""U'"0U'"XU'XU'X"0U'>HH?F=>8
AFB>:98>EF', ++2;i Oi;Y@':NIF'"0'=6B; OiUPPP !F8>:7?F@'=6BB>HF8EU'=6BB>HF8E'"0U'0U'0""U'XU'X"U'X"0a'=6BB>HF8'"U'EIF=9FE'
B>HF8>EF @FIF8@F8:a'FB>E:98a'KL?68F=:98a'B>G9898a'>HH?F=>8a'GNFB98'L>E9='I?6:F98'
AFB>:98>EF'W ++2;b bi;Y@':NIF'"0'=6B; biUPPP !F8>:7?F@'=6BB>HF8EU'=6BB>HF8E'"0U'0U'0""U'XU'X"0U'FB>E:98U'F8:>=98U'
B>HF8>EF >HH?F=>8U'KL?68F=:98U'6E:F68F=:98U'98:F?BF7Y98;4 U'IB>EG986HF8U'
GNFB98'L>E9='I?6:F98
#:?6GFNBE98;4 ++2;_ 2?6:F6HBN=>8>EF TOUPPP 2?6:F6HBN=>8'=6?F'I?6:F98U'B>G9898U'KL?68F=:98U'=6BB>HF8E'"U'"0U'0U'"XU'
XU'X"U'HFB>:98U'FB>E:98U':F8>E=98U'>HH?F=>8U'GNFB98'L>E9='I?6:F98U'
F8:>=:98U'@F=6?98U'6E:F68F=:98
#:?6GFBNE98;i ++2;4P )?>8E98;i TTUPPP 2?6:F6HBN=>8'=6?F'I?6:F98U'=6BB>HF8E'"""U'"0U'0U'B>G9898U'KL?68F=:98U'
FB>E:98U'>HH?F=>8
#:?6GFBNE98;_ ++2;44 p 34UPPP 4;I?6:F98>EF'98<9L9:6?
+>:?9BNE98 ++2;O 21+2U'G>:?9BNE98;4 ifUPPP .6BB>HF8'"0U'@F8>:7?F@'=6BB>HF8EU'B>G9898U'KL?68F=:98U'FB>E:98U'
>HH?F=>8U':F8>E=98U'GNFB98'L>E9='I?6:F98
+>:?9BNE98;i ++2;i3 &8@6GF:>EF ifUPPP AFB>:98U' 4;I?6:F98>EF'98<9L9:6?
+FGL?>8F;:NIF'++2;4 ++2;4S +)";++2 3_UPPP 2?6HFB>:98>EF',U'@F8>:7?F@'=6BB>HF8U'KL?68F=:98U'B>G9898U'Q9:?68F=;
:98U'F8:>=:98U'I?6:F6HBN=>8E
+FGL?>8F;:NIF'++2;i ++2;4T +)i;++2 OiUPPP 2?6HFB>:98>EF',
+FGL?>8F;:NIF'++2;_ ++2;43 +)_;++2 3SUPPP 2?6HFB>:98>EF',
+FGL?>8F;:NIF'++2;S ++2;4O +)S;++2 OPUPPP 18Y86Z8
+FGL?>8F;:NIF'++2;T ++2;iS +)T;++2 O_UPPP 2?6HFB>:98>EF',
+FGL?>8F;:NIF'++2;3 ++2;iT +)3;++2 3_UPPP 18Y86Z8
+F:>BB6FB>E:>EF ++2;4i p TSUPPP &B>E:98U'=6BB>HF8'"0U'Q9:?68F=:98U'IB>EG986HF8U'B>G9898U'F8:>=:98U'
KL?986HF8U'KL?98U'KL?68F=:98
&8>GFBNE98 ++2;iP p TSUPPP ,GFB6HF898U'>HH?F=>8
++2;4b ++2;4b %,#";4 TOUPPP AFB>:98U'>HH?F=>8U'KL?68F=:98
++2;i4 ++2;i4 p 18Y86Z8 18Y86Z8
++2;ii ++2;ii p 18Y86Z8 18Y86Z8
++2;i_ ++2;i_ p SSUPPP 18Y86Z8
&I9BNE98 ++2;if p T3UPPP 18Y86Z8
21+2'j'I78=:7>:F@'GF:>BB6I?6:F98>EFD
UUd% &(5/'$;% ,1&#(+$.% ,-% -#$% &$''% )9+3 #(A$8$+C%&('',4$1,)$3N%,&-)%M%-(%=E%-05$) -9+$.% &('',4$1J<% "#$)$% .$1,-9+$.% 4$',-01
2,&$% #,)% /+(2(91.% 05/'0&,-0(1)% &(1&$+13 5(+$%+,/0.'*%(1%)('97'$%-*/$%BB%&('',4$1C%, /('*/$/-0.$)% ,+$% -#$1% )9)&$/-07'$% -(% ,-3
014%-#$%4$1$+,-0(1%(2%-#$%2(+&$)%+$R90+$. &,+-0',4$3)/$&06&%&('',4$1C%-#,1%(1%-*/$)%B -,&@% 7*% (-#$+% /+(-$01,)$)<% "#9)C% -#$% 013
2(+%&$''%'(&(5(-0(1C%1(-%(1'*%01%-#$%1(+3 ,1.% BBB<% a$&,9)$% (2% 0-)% /+$2$+$1-0,'% &'$,83 -$+)-0-0,'%&('',4$1,)$)%)-,1.%,-%,%@$*%/(01-
5,'% /#*)0('(40&% /+(&$))$)% (2% -0))9$% +$3 ,4$% (2% -*/$% BB% &('',4$1C% ,1.% 7$&,9)$% 0-% 0) 01% &(11$&-08$% -0))9$% 5$-,7('0)5j% "#$*
5(.$'014% 79-% ,')(% 01% /,-#('(40&% /+(3 5,.$% 7*% 7(-#% 1(+5,'% ,1.% ()-$(,+-#+0-0& 010-0,-$%-#$%/+(-$('*-0&%$8$1-)%-#,-%+$)9'-
&$))$)C%)9&#%,)%-95(+%018,)0(1< &#(1.+(&*-$)C%&('',4$1,)$3N%0)%-#(94#-%-( 01%-#$%.$4+,.,-0(1%(2%&('',4$1%,1.%(8$+,''
Q('',4$1,)$3N% GUUd3=NJC% 6+)-% &'(1$. /',*%,1%05/(+-,1-%+('$%01%()-$(,+-#+0-0)< -9+1(8$+%(2%-#$%$;-+,&$''9',+%5,-+0&$)<
2+(5%7+$,)-%&,+&01(5,C%0)%#(5('(4(9)%-( X-% /#*)0('(40&% -$5/$+,-9+$C% -#$% &('3
+(.$1-%&('',4$1,)$<%"#$%/9+06$.%+$&(5703 ',4$1% &'$,8,4$% /+(.9&-)% G0<$<C% -#$% -#+$$3
.6BB>HF8'!9EF>EFE
1,1-% $1F*5$% &'$,8$)% -+0/'$3#$'0&,'% &('3 R9,+-$+k(1$3R9,+-$+% 2+,45$1-)JC% A#0&#
',4$1)C% 408014% -#$% &#,+,&-$+0)-0&% -#+$$3 ,+$%010-0,''*%-+0/'$%#$'0&,'C%7$&(5$%)('97'$C "#$% -$+5% ".++$01&! H%'1$'1% 05/'0$)% -#,-% ,
R9,+-$+k(1$3R9,+-$+% 2+,45$1-)<% g1'0@$ ,+$% -#$+5,''*% 91)-,7'$C% ,1.% .$1,-9+$ &'010&,'%&(1.0-0(1%018('8$)%,1%,71(+5,'3
01-$+)-0-0,'% ,1.% 1$9-+(/#0'% &('',4$1,)$)C )/(1-,1$(9)'*C% 2(+5014% 4$',-01% G.$1,3 0-*%01%-#$%)-+9&-9+$C%)*1-#$)0)C%(+%.$4+,3
!DE
.,-0(1% (2% &('',4$1<% "#0)% -$+5% 0)% 2+$3 !"#$%&'()-
R9$1-'*%9)$.%-(%&#,+,&-$+0F$%,%&'010&,''* (")%$0A/"'.*##"&$%T"'6%CCL"'@%C"0C"C'U%$B'.L$0#"*LC'9#T*/T"E"#$
#$-$+(4$1$(9)% 4+(9/% (2% 01^,55,-(+*
@9;43;4 95(4=9635.4 :<6364@'!454;0 3II4.64@'8=16495
.0)$,)$)C% 01&'9.014% '9/9)% $+*-#$5,-(3
)9)C%)&'$+(.$+5,C%,1.%.$+5,-(5*()0-0)< &<BF?E;!>8B6E'EN8; ,!U',% .$-4,4U'.$-4,iU' '=<>98E'6J':NIFE'"U'"""U'>8@'0'=6B;
B1% -#$% &',))0&% 1(5$1&',-9+$C% -#$% 9)$% (2 @?6GF .$-_,4U'.$-T,4U' B>HF8E
-#$%-$+5%01%-#$)$%.0)$,)$)%A,)%7,)$.%(1 .$-T,i
5(+/#('(40&%&#,14$)C%@1(A1%,)%()*%&.%H 2-$!4U'2-$!i 2?6=6BB>HF8;BNE98FU'i;6M6HB7:>?>:F'
H101&1*$A%.&C% -#,-% #,8$% 7$$1% 01-$+/+$-$. T;@96MNHF8>EF'RBNENB'<N@?6MNB>EFV
-(% +$/+$)$1-% &#,14$)% 01% &('',4$1% 67$+)< ,!,+)#;i 2?6=6BB>HF8'/;IFI:9@>EF
h(A$8$+C% -#$+$% 0)% &9++$1-'*% 1(% &(1&'93 )/X )F8>E=98;X
)08$% $80.$1&$% -#,-% 67+01(0.% .$4$1$+,3 WSA,-);O XNB6ENBI?6:F98'S; ;H>B>=:6ENB;:?>8E;
-0(1% (2% &('',4$1% 67$+)% 0)% 01.0&,-08$% (2% , JF?>EF
/+05,+*%.$2$&-%01%&('',4$1<%Y1%-#$%7,)0) $E:F6HF8FE9E ,!U',% .$-4,4U'.$-4,i' 4'>8@' i'=<>98E'6J':NIF'"'=6BB>HF8
(2% ,8,0',7'$% 70(&#$50&,'% $80.$1&$C% )&'$3 9GIF?JF=:>
+(.$+5,% 0)% -#$% (1'*% &'010&,'% &(1.0-0(1
,5(14%-#$%&',))0&%&('',4$1%.0)$,)$)%-#,- .7:9E'B>M> ,!U',%U'X%L &-/ &B>E:98
018('8$)% ,1*% .$-$&-,7'$% ,71(+5,'0-*% 01 +/n;4'R,)2O,V ,)2;@FIF8@F8:'=6IIF?':?>8EI6?:F?
-#$%)-+9&-9+$%(+%5$-,7('0)5%(2%&('',4$1 (W-/S (9L7B98;S
G)$$%,')(%Q#,/)<%IL%,1.%=MDJ< (W-/T (9L7B98;T
Q('',4$1% 0)% ,1% 919)9,'% /+(-$01% 01 *6G6=NE:987?9> ,% .W# .NE:>:<96898F ;EN8:<>EF
5,1*%+$)/$&-)C%,1.%0-)%)-+9&-9+$%,1.%5$3
+F8YFE'EN8@?6GF X% +/n;4'R,)2O,V ,)2;@FIF8@F8:'=6IIF?':?>8EI6?:F?
-,7('0)5% 018('8$% ,% 1957$+% (2% )/$&0,'
2$,-9+$)% -#,-% ,+$% &+0-0&,'% 2(+% .$/()0-0(1 (6=>B'@F?G>B'<NI6; X! /!
(2%1(+5,'% &('',4$1%67$+)<% a,)$.%(1% (9+ IB>E9>
91.$+)-,1.014% (2% -#$% 70(&#$50)-+*% (2 )7LF?67E'E=BF?6E9E' ,! )#n;4 *>G>?:98'4
1(+5,'% &('',4$1C% 0-% 0)% 1(A% /())07'$% -( RE<>H?FF8'I>:=<FEV
0.$1-02*%.0)&+$-$%/(01-)%,-%A#0&#%.$2$&-)
&(9'.%7$%01-+(.9&$.%01-(%&('',4$1%5('$3 (>G9B9>B'=7:>8F67E' ,! /!
&9'$)%(+%5,-9+$%67$+)<%B1%,%/+05,+*%&('3 =6BB>HF86G>
',4$1%.0)$,)$C%)9&#%,%.$2$&-%&(9'.%7$%,1 &I9@F?G6BNE9E'L7BB6E> ,!U',% .$-O,4U' 4'=<>98E'6J':NIFE'0""'>8@'X0""'=6B;
01#$+0-$.%,71(+5,'0-*%01%-#$%)-+9&-9+$%(2 .$-4O,4 B>HF8
-#$%&('',4$1%(+%/+(&('',4$1%(+%01%-#$%$13
F*5$)% /,+-0&0/,-014% 01% -#$% 70()*1-#$)0) ,!'j'>7:6E6G>B'@6G98>8:a',%'j'>7:6E6G>B'?F=FEE9QFa',)2'j'>@F86E98F':?9I<6EI<>:Fa'X!'j'X;B98YF@'@6G9;
,1.% .$4+,.,-0(1% (2% &('',4$1<=% B1% ,% )$&3 8>8:a'X%'j'X;B98YF@'?F=FEE9QFa'/!'j'86:'@F:F?G98F@D
>(6?'@F:>9BF@'@9E=7EE968'6J':<FEF'HF8FEU'EFF'?FJED'S'>8@'fOD
(1.,+*C% ,&R90+$.% -*/$% (2% &('',4$1% .0)3 L+6E:'=>EFE'98Q6BQF'>L86?G>B9:9FE'98':<F'FB>E:9='KLF?EU'>8@'98'E6GF'=>EFEU'G7:>:968E'98':<F'FB>E:98'HF8F'R&-/V'
$,)$C% &#,14$)% 01% &('',4$1% 5,*% 7$% , <>QF'LFF8'@9E=B6EF@D'$==9I9:>B'<6?8'EN8@?6GFU'>'=6IIF?'@FK=9F8=N'EN8@?6GFU'>BBFB9=':6':<F'+F8YFE'EN8;
&(1)$R9$1&$%(2%010-0,''*%91+$',-$.%5$-,3 @?6GF'HF8F'R+/n;4VU'Z>E'I?FQ967EBN'Y86Z8'>E'EB9%&1,F!"G/%'!9$H$'>8@'>BE6'I#9,)'B-$&9*'!'A&F)*>,!/AJ,!DE
7('0&%&#,14$)<%X&&(+.014%-(%-#$)$%.$6103 REFF'.<>ID'4_bVD'
-0(1)C% )$8$+,'% &'010&,'% .0)(+.$+)% -#,-% ,+$
-+9$% &('',4$1% .0)$,)$)% ,+$% &9++$1-'* &9'$)<% B1% &(1-+,)-C% -#$% 67+(-0&% )@01% .0)3 .$+50)<I=% B1% -#$% /,/0'',+*% .$+50)C% $',)-0&
@1(A1<%B1.$$.C%-#$+$%,+$%5,1*%.0)$,)$) $,)$)%$;$5/'02*%&(1.0-0(1)%A0-#%,'-$+$. 67$+)%,+$%/+$)$1-%$0-#$+%,)%791.'$)%(2%503
01% A#0&#% ,% 7,)0&% 70(&#$50&,'% .$2$&-% 01 +$49',-0(1% (2% &('',4$1% 4$1$% $;/+$))0(1 &+(67+0')% G(;*-,',1% 67$+)J% (+% A0-#% )5,''
&('',4$1%#,)%7$$1%.$)&+07$.C%,1.%)$8$+,' -#,-% '$,.)% -(% $;&$))08$% ,&&959',-0(1% (2 ,5(91-)% (2% &+())3'01@$.% $',)-01% G$',9101
#$+0-,7'$% &(11$&-08$% -0))9$% .0)$,)$) &('',4$1%01%-0))9$)< 67$+)J<%B1%-#$%+$-0&9',+%.$+50)C%-#$%$',)-0&
A0-#% &9-,1$(9)% 018('8$5$1-% ,+$% 1(A 67$+)C%A#0&#%&(1)0)-%/+05,+0'*%(2%$',)-01C
@1(A1%-(%+$)9'-%2+(5%)/$&06&%5('$&9',+ ,+$% (+0$1-$.% #(+0F(1-,''*% 01% ,% 1$-A(+@
.$2$&-)% 01% &('',4$1% 4$1$)% G",7'$% I=3Mc &-,#)".'("W&%# A0-#% 8$+-0&,'% $;-$1)0(1)% -(% -#$% /,/0'',+*
)$$%Q#,/<%=N!J<%U,1*%(2%-#$)$%.0)$,)$) #:?7=:7?F'>8@'!FQFB6IGF8:' .$+50)%01%-#$%2(+5%(2%(;*-,',1%67$+)<
018('8$% 01)$+-0(1)C% .$'$-0(1)C% (+% )014'$3 \;,501,-0(1%(2%$',)-0&%&(11$&-08$%-0)3
6J':<F'&B>E:9='(9LF?E
7,)$%)97)-0-9-0(1)%01%-#$%4$1$)%-#,-%,'-$+ )9$)% 7*% -+,1)50))0(1% $'$&-+(1% 50&+()3
-#$% /+05,+*% )-+9&-9+$% (2% -#$% /+(-$01<% B1 \',)-0&% 67$+)% (2% -#$% &(11$&-08$% -0))9$ &(/*% #,)% .$5(1)-+,-$.% -#,-% 5,-9+$
)$8$+,'% ,&R90+$.% .0)$,)$)C% -#$% +$49',3 2(+5%,%1$-A(+@%+$)/(1)07'$%2(+%-#$%+$)0'3 $',)-0&% 67$+)% &(1)0)-% (2% -A(% .0)-01&-
-0(1% (2% &('',4$1% 4$1$% $;/+$))0(1% 0)% .0)3 0$1-% /+(/$+-0$)% (2% 8,+0(9)% (+4,1)<MD>IE &(5/(1$1-)% GH04<% I=3==J<% "#$% 5,:(+
-9+7$.C% A#0&#% '$,.)% -(% ,'-$+$.% .$/()03 "#$% .0)-+079-0(1% (2% $',)-0&% 67$+)% 0)% 8,+03 &(5/(1$1-% 0)% ,%A$''3&#,+,&-$+0F$.% &(13
-0(1%(2%&('',4$1%01%-0))9$)<%"#$%.08$+)0-* ,7'$% 01% .022$+$1-% -0))9$)j% -#$0+% +$',-08$ 1$&-08$% -0))9$% /+(-$01C% $',)-01C% ,1.% -#0)
(2%&('',4$1%/,-#('(4*%0)%$;$5/'06$.%7* &(1&$1-+,-0(1%0)%#04#$)-%01%-#$%,(+-,%,1. ,5(+/#(9)C% $'$&-+(13'9&$1-% &(+$C% A#$1
\#'$+)3],1'()% )*1.+(5$% ,1.% 67+(-0& ,+-$+0,'% 7'((.% 8$))$')C% 79-% -#$*% ,+$% ,')( 80)9,'0F$.% 7*% -+,1)50))0(1% $'$&-+(1% 503
)@01% .0)$,)$)%G)$$% Q#,/)<%=N!% ,1.% =MDJ< ,791.,1-% 01% -#$% '914)<% \',)-0&% 67$+)% ,+$ &+()&(/*C% 0)% )9++(91.$.% 7*% .0)-01&-% 503
\#'$+)3],1'()% )*1.+(5$% &(5/+0)$)% , ,')(% /+$)$1-% 01% -#$% )@01C% ,'-#(94#% -#$* &+(67+0'',+%)-+9&-9+$)%-#,-%#,8$%,%+$49',+
4+(9/% (2% /#$1(-*/0&,''*% )050',+% &(1.03 ,+$%(1'*%,%501(+%&(5/(1$1-%GH04<%I=3=EJ< .0,5$-$+%(2%=E%-(%=L%15%G)$$%H04<%I=3==J<
-0(1)%-#,-%2+$R9$1-'*%+$)9'-%2+(5%,71(+3 O/$&06&,''*C% 01% )913/+(-$&-$.% ,.9'-% #93 "#$% 50&+(67+0'',+% &(5/(1$1-% 0)% &(53
5,'0-0$)%01%-#$%)-+9&-9+$%(2%&('',4$1%(+%01 5,1%)@01C%-#$%$',)-01%&(1-$1-%0)%=%/$+&$1- /()$.%(2%,%8,+0$-*%(2%/+(-$01)%-#,-%#,8$
$1F*5$)% 5(.02*014% &('',4$1% 5('$3 -(% L% /$+&$1-% (2% -#$% -(-,'% .+*% A$04#-% (2 1(A%7$$1%&#,+,&-$+0F$.<MDCIE
!GF
-#$%,105,')%(1%,%&(//$+3.$6&0$1-%.0$-%(+
7*% 2$$.014% -#$5% ',-#*+(4$1)C% )9&#% ,)% 3
,501(/+(/0(10-+0'$C% A#0&#% 01#070-% $',)-01
,1.% &('',4$1% &+())3'01@014<% Y1&$% -#$% 2(+3
5,-0(1% (2% -#$% &+())3'01@)% 0)% /+$8$1-$.C% ,
',+4$%2+,&-0(1% (2% 1$A'*% )*1-#$)0F$.% $',)3
-01%&,1%7$%$;-+,&-$.%2+(5%-#$%-0))9$)<%a*
-#$)$%5$-#(.)C%',+4$%R9,1-0-0$)%(2%)('97'$
$',)-01% A$+$% 010-0,''*% /9+06$.% 2+(5% /(+3
&01$% ,(+-,C% ,1.% )#(+-% /$/-0.$% 2+,45$1-)
A$+$% )$R9$1&$.<IL% "#$% /+$&0)$% ,501(
,&0.%)$R9$1&$%(2%#95,1%$',)-01%#,)%1(A
7$$1% .$.9&$.% 2+(5% &'(1$.% &(5/'$5$13
-,+*%]`X)%G&]`X)J<INCI?
"#$%7,)0&%5('$&9',+% 910-%(2%$',)-01%0)
,%'01$,+%/('*/$/-0.$C%@1(A1%,)%A*.B.1+$',
A%&C% -#,-% &(1)0)-)% (2% ,//+(;05,-$'*% DEE
2=>?@-,A"B"F )?>8EG9EE968'FBF=:?68'G9=?6E=6IN'6J'<7G>8'EY98'@FG68E:?>:98H'>'KL?6LB>E:'R(V'E7?; ,501(% ,&0.)% A0-#% ,% 5('$&9',+% 5,))% (2
?678@F@'LN'FB>E:9='E:?7=:7?FE'R&V'>8@'=6BB>HF8'KLF?E'R.VD ,//+(;05,-$'*% KE% @.<% "#$% ,501(% ,&0.
&(5/()0-0(1%(2%$',)-01%0)%)050',+%-(%-#,-
\',)-01% ,1.% -#$% 50&+(67+0')% $;0)-% 01 +$/+$)$1-)%A$''%(8$+%!E%/$+&$1-%(2%-#$%-(3 (2% &('',4$1% 01% -#,-% ,7(9-% (1$3-#0+.% (2
&'()$% ,))(&0,-0(1% 01% 8,+0(9)% &(11$&-08$ -,'%&(1-$1-%(2%)9&#%67$+)%G)$$%H04<%I=3==J< -#$%-(-,'%1957$+%(2%,501(%,&0.%+$)0.9$)
-0))9$)c%#(A$8$+C%-#$%+$',-08$%/+(/(+-0(1) B-%)#(9'.%7$%1(-$.C%#(A$8$+C%-#,-%)@01%,) &(1)0)-% (2% 4'*&01$<% h(A$8$+C% 4'*&01$% 0)
(2%-#$)$%&(5/(1$1-)%8,+*%.9+014%$57+*3 A$''%,)%(-#$+%-0))9$)%&(1-,01%50&+(67+0') 1(-%$8$1'*%.0)-+079-$.%01%$',)-01C%,)%0-%0)
(10&% .$8$'(/5$1-<% "#$% 6+)-% $'$5$1-)% (2 .$8(0.%(2%$',)-01< 01% ,% -*/0&,'% &('',4$1% )$R9$1&$<% B1)-$,.C
$',)-0&%67$+)%-#,-%2(+5%.9+014%2$-,'%.$8$'3 -#$% 4'*&01$% +$)0.9$)% ,+$% 4+(9/$.% 01% 8,3
(/5$1-%&(1)0)-%(2%791.'$)%(2%50&+(67+0') W96B6HN'6J':<F'&B>E:9='(9LF?E '01$3%,1.%/+('01$3+0&#%+$40(1)C%A#0&#%,+$
-#,-% &,1% 7$% 80)9,'0F$.% 7*% $'$&-+(1% 503 01-$+)/$+)$.%A0-#%,',101$3+0&#%)$R9$1&$)<
&+()&(/*% $,+'*% 01% -#$% 6+)-% -+05$)-$+% (2 -SHKN=M !"#$%&'()$"*+$*"%, "#$%67$+)%&(53 \',)-01%,')(%&(1-,01)%)(5$%#*.+(;*/+(3
4$)-,-0(1<%B-%#,)%7$$1%/()-9',-$.%-#,-%-#$ /()$.% (2% $',)-01C% A#$1% 80)9,'0F$.% 7* '01$C% 79-% -#$% +$',-08$% &(1-$1-% (2% -#0)
50&+(67+0')% 2(+5% ,% )&,22('.% 01-(% A#0&# )&,11014%$'$&-+(1%50&+()&(/*C%,//$,+%,) ,501(% ,&0.% 0)% &(1)0.$+,7'*% '(A$+% -#,1
-#$% $',)-01% 5('$&9'$)% ,'041<% ]9+014% -#$ ,5(+/#(9)C%7+,1%)-+9&-9+$)%2(+5014 -#,-% 01% &('',4$1C% ,1.% -#$% 8,'9$)% 2(+% #*3
)$&(1.%-+05$)-$+C%-#$%$',)-0&%67$+)%+$5,01 &(1-019(9)%)#$$-)%01%)(5$%&(11$&-08$%-0)3 .+(;*/+('01$% ,+$% 8,+0,7'$<% \',)-01% .($)
+$',-08$'*% 055,-9+$% 01% )-+9&-9+$% ,1. )9$)%GH04<%I=3=LJ<%"#$%0)(',-0(1%,1.%&#,+3 1(-% &(1-,01% #*.+(;*'*)01$% (+% &,+7(#*3
&(5/()0-0(1C% 79-% A0-#% 01&+$,)014% 2$-,' ,&-$+0F,-0(1%(2%-#$%7,)0&%/('*/$/-0.$%910- .+,-$% 5(0$-0$)% &(8,'$1-'*% '01@$.% -(% -#$
,4$% ,1.% 5,-9+,-0(1% (2% -#$% 67$+)C% -#$ (2% $',)-01% A$+$% #01.$+$.% 2(+% ,% '(14% -05$ /('*/$/-0.$%&#,01<
,5(+/#(9)% $',)-01% &(5/(1$1-% 7$&(5$) 7*% -#$% $;-+$5$% 01)('970'0-*% (2% $',)-01% 01 X%&#,+,&-$+0)-0&%2$,-9+$%(2%$',)-0&%67$+)
5(+$% /+(501$1-<%H9''*%.$8$'(/$.%$',)-0& 5,-9+$%,105,'%-0))9$)<%B-%A,)%.0)&(8$+$.C 0)% -#$% /+$)$1&$% (2% &+())3'01@)% -#,-% &(3
67$+)% &(1)0)-% (2% ,% &$1-+,'% ,5(+/#(9) #(A$8$+C%-#,-%-#0)%01)('970'0-*%0)%,--+079-3 8,'$1-'*%701.%$',)-01%/('*/$/-0.$%&#,01)
&(+$% )9++(91.$.% 7*% ,1% $18$'(/$% (2% 503 ,7'$%-(%-#$%/+$)$1&$%(2%&(5/'$;%&(8,'$1- 01-(% ,% 67$+% 1$-A(+@<% "#$% -A(% 5,:(+
&+(67+0')C% ,1.% $'$&-+(1% 50&+()&(/0&% $)-03 &+())3'01@)C%@1(A1%,)%H1'/.'%&1'%G)$$%H07+0'3 &+())3'01@% &(5/(91.)C% .$)5()01$% ,1.
5,-0(1)% (2% -#$% 29''*% 5,-9+$.% $',)-0&% 63 '(4$1$)0)%,1.%Q+())3b01@014JC%A#()$%2(+3 0-)% 0)(5$+C% 0)(.$)5()01$C% ,+$% )-+9&-9+$)
7$+)% )944$)-% -#,-% -#$% $',)-01% /+(-$01 5,-0(1%&,1%7$%/+$8$1-$.%7*%5,01-,01014 -#,-% ,//$,+% -(% 7$% 910R9$% -(% $',)-01IM
GH04<%I=3=NJ<%"#$%&(1-$1-%(2%.$)5()01$)
01%8,+0(9)%$',)-01%/+$/,+,-0(1)%#,)%7$$1
)#(A1% -(% 7$% 2,0+'*% &(1)-,1-C% ,//+(;03
5,-$'*%=<M%+$)0.9$)%/$+%=EEE%,501(%,&3
0.)<% Q(1)$R9$1-'*C% ,)),*% (2% .$)5()01$
,1.%0)(.$)5()01$%&,1%/+(80.$%,%R9,1-03
-,-08$%5$,)9+$%(2%-#$% $',)-01% &(1-$1-% 01
-0))9$)<II
-%'%()$"*+$*"%, Q'(1014%(2%&]`X)%&(++$3
)/(1.014% -(% -#$% #95,1% $',)-01% 5V`XC
,//+(;05,-$'*%N<M%@0'(7,)$)%G@7J%01%)0F$C
#,)%,''(A$.%$'9&0.,-0(1%(2%-#$%$1-0+$%/+03
5,+*% )$R9$1&$% (2% -+(/($',)-01I?% GH04<
I=3=?J<% "#$% .$.9&$.% ,501(% ,&0.% )$3
R9$1&$% .$/0&-)% ,'-$+1,-014% )$45$1-)% (2
&+())3'01@%.(5,01)C%&#,+,&-$+0F$.%7*%-#$
/+$)$1&$% (2% '*)*'% +$)0.9$)% )$/,+,-$.% 7*
2=>?@-,A"B"" )?>8EG9EE968'FBF=:?68'G9=?6E=6IN'6J':<F'FB>E:9='KLF?E'98'86?G>B'<7G>8'EY98D'&B>E:98U -A(%(+%-#+$$%,',101$%+$)0.9$)C%,1.%#*.+(3
:<F'FBF=:?68;B7=F8:'=6?F'6J':<F'KLF?U'9E'E7??678@F@'LN':<98U'FBF=:?68;@F8EF'G9=?6KL?9BED'R$?9H98>B'G>H89K; /#(70&%.(5,01)<%"#$%&+())3'01@%.(5,01)
=>:968 !43UPPPDV ,1.% -#$% #*.+(/#(70&% +$40(1)% ,+$% $13
!G"
H J
2=>?@-,A"B"D #=>8898H'FBF=:?68'G9=?6H?>I<E'6J':<F'FB>E:9='KLF?E'98'<7G>8'EY98D'R$?9H98>B'G>H89K=>:968Ec'HI !iPPPD'JI !TPPPDV
b+bc++++c+c++c+b_++c++b++++c_+++++++++b+++bVbV+bc+bc+++++++++++_+bc+++++++V+c+c+++++++++++_bcc++++++++c+cb.c++b+V+bb+V_c ++V+++b+++++++++++Vb+++cc
_702+`+++++$++++++++++++++++++++++++J++D+++L++++++++++++K+++P+++E+++$O+$$+++$D++++++++++++$P+$N++$E+JO+JD+++++JL+JM+++JN+++++++++++D$+++++++++++DP
M $J $L $M J$ JK JE DJ
N $K JJ JP DO DD
JP.
O+++++++++++++++++++++++++++++++++$O++++++++++++++++++++++++++++++++++JO+++++++++++++++++++++++++++++++++DO +++++++++++++LO
H !4-)*03'/*5Y+X>
V41.2+*).53'2+-01()*1*23.&C+a!B
(0)C+B (0)C+B
$+++D+K++++M+++E+++$$+$D+$K++$M++++++$E++++++J$+++JD++++JK+++++JP.++JN++DO++DJ+DP
_702+` J++L++++P++++N++$O++$J++$L+++$P++++++$N++++++++JO++++++JJ+++++JL+++++++JP++++++JM+++JE+D$+DD
O++++++++++++++++++++OTK++++++++++++++++++$TO++++++++++++++++++$TK+++++++++++++++++++JTO++++++++++++++++++JTK +DTO+++++++++++++++++DTK
J !4-)*03'/*5Y+X>
2=>?@-,A"B"T %FI?FEF8:>:968'6J':<F'<7G>8'FB>E:98'HF8F'RHV'>8@':<F'=6??FEI68@98H'=6GIBFGF8:>?N'!/,'R=!/,V'RJVD'HI')<F'FM68E'<>QF'LFF8'87GLF?F@
E:>?:98H'J?6G':<F'T 'F8@'6J':<F'HF8F'>8@'=6??FEI68@':6':<6EF'E<6Z8'98':<F'=!/,'REFF'JVD')<F'I?FEF8=F'6J'?FE:?9=:968'F8@687=BF>EF'=BF>Q>HF'E9:FEc'@$>KD'RWVU
I"*LD'R&VU'K%&FDDD'R*VU'0$"9 R#V'9E'86:F@'68':6ID'JI')<F'=!/,U'>II?6M9G>:FBN'_DT'Y9B6L>EFE'RYLV'98'E9\FU'9E'@9Q9@F@'98:6'EFI>?>:F'FM68E':<>:'>?F'87GLF?F@'J?6G'4':6
_3'>8@'@?>Z8':6'E=>BFD'/6:F':<>:':<F'<7G>8'FB>E:98'HF8F'=68:>98E'68BN'_S'FM68Ea'<6ZFQF?U':6'G>98:>98'>'=68E9E:F8:'87GLF?98H'ENE:FG'LF:ZFF8':<F'L6Q98F'>8@
<7G>8'FB>E:98'HF8FEU':<F'B>E:'FM68'9E'@FE9H8>:F@'>E'87GLF?'_3a':<7EU':<F'<7G>8'HF8F'9E'G9EE98H':<F'=678:F?I>?:E'6J'L6Q98F'FM68E'_S'>8@'_TD')<F'$))*<''98;
@9=>:F':<F'FM68E':<>:'<>QF'LFF8'E<6Z8':6'LF'E7LdF=:':6'>B:F?8>:9QF'EIB9=98HD')<F'>??6ZE'Z9:<'I6BN','98@9=>:F':<F'I6BN>@F8NB>:968'E9:FED'R(?6G'19::6'F:'>Bc'&B>E:9='KLF?E
6J':<F'=688F=:9QF':9EE7FU'98'@%*"#,>%'/)A!$&F!(#A'%*9*+A!*.!01%&U'i8@'F@U'F@9:F@'LN'A6B@EG9:<'-D'/FZ'`6?YU'$MJ6?@'189QF?E9:N'2?FEEU'4bb4U'Z9:<'IF?G9EE968DV
2=>?@-,A"B"! +6@7B>?'@6G>98'E:?7=:7?FE'6J'EFBF=:F@'FB>E:98;>EE6=9>:F@'G9=?6KL?9BB>?'I?6:F98EU'98=B7@98H'KL?9BB98'R(W/VU'B>:F8:':?>8EJ6?G98H'H?6Z:<'J>=:6?;
kL98@98H'I?6:F98'R-)W2VU'KL7B98'R(W-/VU'>8@'FG9B98D')<F'K?E:'GFGLF?'6J'F>=<'HF8F'J>G9BN'9E'?FI?FEF8:F@D')<F'(W/U'-)W2U'>8@'(W-/'J>G9B9FE'>?F'?FB>:F@'LF;
=>7EF':<FN'E<>?F'=6GG68'I?6:F98'G6:9JED'&A('j'FI9@F?G>B'H?6Z:<'J>=:6?a'&+"'j'FG9B98;EIF=9K='@6G>98D'R,@>I:F@'J?6G'%6EF8LB66G'5U',L?>GE'q%c'&B>E:98'>8@
:<F'G9=?6KL?9BB>?'>II>?>:7EU'98'2*&&,"/%8,!M%''G,!$&F!D/'!K,)%/$:9,!-%'*)F,)'U'i8@'F@U'F@9:F@'LN'%6N=F'%+U'#:F98G>88'WD'/FZ'`6?YU'q9BFN;-9EEU'iPPia'2>8');.
F:'>Bc'#:?7=:7?F'>8@'FMI?FEE968'6J'KL7B98;iU'>'86QFB'FM:?>=FBB7B>?'G>:?9M'I?6:F98'Z9:<'G7B:9IBF'&A(;B9YF'?FIF>:E'>8@'=68EF8E7E'G6:9JE'J6?'=>B=97G'L98@98HD'C!2,99
@%*9 "DGc4i3bU'4bb_a'>8@'.6B6GL>::9','F:'>Bc')<F'&+"-"/'I?6:F98'J>G9BND'?$/)%H!@%*9 "Ecifba'iPPPDV
/,-#('(40&% &(1.0-0(1)C% 01&'9.014% )(',+ .(&95$1-$.% 01% )(5$% &,)$)% (2% &9-0) .$+5,J% (+% &9-0)% ',;,% G$<4<C% A+01@'*% )@01
$',)-()0)<!K ',;,<=EL>=E? )*1.+(5$J%&,1%7$%+$&(410F$.<
,!'j'>7:6E6G>B'@6G98>8:a',%'j'>7:6E6G>B'?F=FEE9QFa'/*'j'86:'>'<F?9:>LBF'@9EF>EFa'G%/,'j'GFEEF8HF?'%/,D
>+6E:'6J':<FEF'=68@9:968E'?FI?FEF8:'>'H?67I'6J'@9EF>EFE'Z9:<'=B989=>BU'HF8F:9=U'>8@'L96=<FG9=>B'<F:F?6HF8F9:ND
L)<F'L96=<FG9=>B'>L86?G>B9:9FE'<>QF'LFF8'@FG68E:?>:F@'98'68BN'>'B9G9:F@'87GLF?'6J'I>:9F8:E'98'F>=<'H?67IU'>8@'9:'9E'86:'Y86Z8'Z<F:<F?':<F'L96=<FG9=>B'=<>8HFE'>?F'
:<F'E>GF'98'F>=<'I>:9F8:'Z9:<'>8N'H9QF8'@9EF>EFD
=%>?F'=>EFE'Z9:<'>'@9E:98=:'>=^79?F@'J6?G'6J'IEF7@6M>8:<6G>'FB>E:9=7G'<>QF'LFF8'@FE=?9LF@D
!G#
#:?7=:7?F "0&*+(&03*'2e
h0)-(+0&,''*C% -$+5)% )9&#% ,)% 0*.D&H! 'D), f+/*='2*/+>C+.+5'26)*+6*2*
'A$&"1% (+% /D".B.+C'$""#$*%H1'% A$+$% 9)$. +++)'2X*/+30+02*+0&+1.2C+QBQ5
b\D# b\D#
-(% .$)&+07$% /+(-$(4'*&,1)% 7$&,9)$% (2 f+)0-.3'02+'5+'23&.-*))4.&Y+02
-#$0+% #0)-('(40&% ,//$,+,1&$% ,1.% -#$0+ +++-*))+54&=.-*+0&+*73&.-*))4).&
b*&
-#0&@% ,1.% 59&01(9)% 1,-9+$% A#$1% 0)(3
',-$.<%a$&,9)$%(2%-#$)$%/#*)0&,'%/+(/$+3 b\D# b\D# b\D#
-0$)C% /+(-$(4'*&,1)% A$+$% .026&9'-% -(
QBQ5e
)-9.*% ,1.% /((+'*% 91.$+)-((.<% U(+$% +$3 b*&
f+/*='2*/+>C+(&03*'2+
&$1-'*C% 4'*&(70('(4*% #,)% &'$,+'*% .$61$.
+++-0&*+.2/+5C23,*5'5
/+(-$(4'*&,1)% ,)% $))$1-0,'% +$49',-(+* b\D# b\D#
5('$&9'$)% -#,-% &(1-+('% 5,1*% &$''9',+
f+<.&'.>)*+/'5.--,.&'/*5Y+
+++5'I*Y+54)=.3'02Y+.2/+-,.&6*
291&-0(1)<% "(% ,--,01% -#0)% 91.$+)-,1.014C
05/(+-,1-%,.8,1&$)%#,8$%7$$1%5,.$%01
-#$% 0.$1-06&,-0(1% (2% )/$&06&% /+(-$(4'*3 H
&,1% &(+$% /+(-$01)% ,1.% -#$% ,))$57'*% (2 VC.)4&02'-+.-'/ V*(.&.2+54)=.3* ",02/&0'3'2+54)=.3*
-#$0+%PXP%)0.$%&#,01)<
b\D# b\D# b\D# b\D#
d+(-$(4'*&,1)% ,+$% +$&(410F$.% ,)
5$57$+)%(2%)/$&06&%4$1$%2,50'0$)%7,)$.
(1%,501(%,&0.%)$R9$1&$%012(+5,-0(1%.$3 b\D#
+08$.% 2+(5% -#$0+% &(+$% /+(-$01)% ,1.% &,+3
7(#*.+,-$% &(5/()0-0(1,'% ,1,'*)0)% (2 a*&1.3.2+54)=.3*
-#$0+%PXP%)0.$%&#,01)<%"#$%/+(-(-*/0&,' b\D# b\D#
/+(-$(4'*&,1% &(1)0)-)% (2% ,% )014'$% &(+$
/+(-$01% '01@$.% -(% (1$% (+% 5(+$% PXP)
GH04<%I=3=IXJ<%\,&#%&(+$%/+(-$01%#,)%-#$ b\D#
&,/,&0-*% -(% ,&&$/-% ,% 8,+0$-*% (2% PXP
J
&#,01)<%Q(1)$R9$1-'*C%-#$%1(5$1&',-9+$ H*Ce
2(+%/+(-$(4'*&,1)%0)%&(5/'0&,-$.%01%-#,-
01.080.9,'% 5('$&9'$)% 59)-% 7$% .$61$. Q.).-305.1'2* Q)4-4&02'-+.-'/ RC)05*
7,)$.%(1%-#$%&(+$%/+(-$01%,1.%-#$%,))(3
&0,-$.%PXP)< Q)4-05.1'2* ?/4&02'-+.-'/ Q.).-305*
2=>?@-,A"B"A HI'2?6:6:NIF'6J'I?6:F6HBN=>8'E:?7=:7?FD'.6?F'I?6:F98E'G>N'=68:>98'J?6G'4':6'4PP'HBN;
ABN=6E>G986HBN=>8'.<>98
=6E>G986HBN=>8'RA,AV'=<>98EU'@FIF8@98H'68':<F'=6?F'I?6:F98'EF^7F8=FD')Z6'@9JJF?F8:'A,A'=<>98E'>?F
"#$%PXP%&#,01%0)%.$61$.%7,)$.%(1%-#$ E<6Z8c'@F?G>:>8'E7BJ>:F'R/*J!9,./V'>8@'<FI>?>8'E7BJ>:F'R:*//*>!)%+#/VD'#9:FE'6J'I6:F8:9>B'E7BJ>:968'>?F
,))$57'*% (2% $))$1-0,'% )94,+% +$)0.9$)< 98@9=>:F@D'0,)'?FI?FEF8:E'>'EF?98F'>G986'>=9@'?FE9@7F'98':<F'=6?F'I?6:F98':6'Z<9=<'A,AE'>?F'>::>=<F@D
"#$)$%)94,+)%,+$%(+4,10F$.%,)%.0),&&#,3 JI'!9E>==<>?9@F'?FIF>:98H'789:E'6J'A,AE'E<6Z8'>E':F:?>E>==<>?9@FED'#:?7=:7?FE'6J'<FI>?>8'E7BJ>:FU'@F?;
+0.$% /,0+)% -#,-% 9)9,''*% &(1)0)-% (2% ,1
G>:>8'E7BJ>:FU'=<68@?69:98'E7BJ>:F','R=<68@?69:98'S;E7BJ>:FV[.'R=<68@?69:98;3'E7BJ>:FVU'>8@'<N>B7?68>8'>?F
,&0.0&% )94,+% -#,-% 0)% $0-#$+% ,1% 0.9+(10&
E<6Z8D'#7BJ>:968'=>8'Q>?N'98'<FI>?>8'E7BJ>:F'>8@'@F?G>:>8'E7BJ>:FD
,&0.%(+%4'9&9+(10&%,&0.%,'-$+1,-014% A0-#
,%#$;(),501$%-#,-%0)%$0-#$+%4'9&(),501$
(+% 4,',&-(),501$<% e#$1% -#$% &#,01)% ,+$ ,) "#.&H*.%A%&!'D+-$A1!:J%0)%)050',+%-(%(-#$+ -,&#$.C% -#$% &$''% -*/$C% ,1.% -#$% &$''% $1803
,))$57'$.% ,)% .0),&&#,+0.$)C% -#$% &#(0&$ &#(1.+(0-01% )9'2,-$)% $;&$/-% -#,-% 0-% &(13 +(15$1-<% H(+% $;,5/'$C% -#$% )05/'$)-
(2%)94,+)%,1.%-#$%'01@,4$%7$-A$$1%-#$5 -,01)%,%#04#%/+(/(+-0(1%(2%0.9+(10&%,&0.) PXPC%#*,'9+(10&%,&0.C%0)%1$8$+%)9'2,-$.C
0)% 9)$.% -(% ,))041% ,% 1,5$% -(% -#$% PXP 01%/',&$%(2%4'9&9+(10&%,&0.%,1.%#,)%5(+$ A#$+$,)%(-#$+%PXP)%&,1%7$%)9'2,-$.%-(
&#,01<% "#9)C% )$8$+,'% -$+5)% ,+$% 9)$.% -( 8,+0,7'$% )9'2,-0(1<% ]$+5,-,1% )9'2,-$ 8,+*014%.$4+$$<%"#$%#04#'*%)9'2,-$.%)943
.$61$%PXP)%G)$$%H04<%I=3=IaJC%01&'9.014 )#,+$)% 2$,-9+$)% (2% 7(-#% &#(1.+(0-01 ,+)% -$1.% -(% (&&9+% 01% )/$&06&% +$40(1)% (2
#C$+D*.&%"! $"%HC% A#0&#% &(1-,01)% ,% 4'9&93 )9'2,-$% GK3,&$-*'4,',&-(),501$J% ,1. -#$% PXP% &#,01% ,1.% ,+$% 01-$+)/$+)$.
+(10&% ,&0.% ,'-$+1,-014% A0-#% K3,&$-*'4'93 #$/,+,1% )9'2,-$% G0.9+(1,-$J% G)$$% H04< A0-#% ,+$,)% (2% '(A% )9'2,-0(1<% O9&#% .0)3
&(),501$>'01@$. =>N% ,1.% =>?c #1B$, I=3=IaJ< &+$-$% .(5,01)% (2% '(A% (+% #04#% )9'2,-0(1
*$&! 'D+-$A1C% &(1-,01014% 0.9+(10&% (+ "#$% '01$,+% &#,01)% (2% '01@$.% .0),&&#,3 ,+$% 7$'0$8$.% -(% .$-$+501$% -#$% 01-$+,&3
4'9&9+(10&% ,&0.)% ,'-$+1,-014% A0-#% K3 +0.$% 910-)% 01%,% PXP% ,+$% #04#'*% 8,+0,7'$ -0(1)%7$-A$$1%/+(-$(4'*&,1)%,1.%PXP)
,&$-*'4'9&(),501$>'01@$. =>?c "#.&, 01%)0F$C%+,14014%2+(5%,)%2$A%,)%=E%.0),&3 ,1.%-#$0+%5,1*%701.014%/,+-1$+)<
H*.%A%&!'D+-$A1C%&(1-,01014%4'9&9+(10&%,&0. &#,+0.$)%-(% )$8$+,'%-#(9),1.<% "#9)C%-#$ "#$% )0F$C% .0),&&#,+0.$% &(5/()0-0(1C
,'-$+1,-014% A0-#% K3,&$-*'4,',&-(),501$> 5,))%(2%1,-9+,''*%(&&9++014%PXP)%-*/03 ,1.%)9'2,-0(1%,+$%(2%&+0-0&,'%05/(+-,1&$%01
'01@$. =>N% ,1.% =>?c% ,1.% E1*$A$&! 'D+, &,''*%+,14$)%7$-A$$1%M%!%=EN%.%,1.%M% ! 91.$+)-,1.014% PXP)<% "#$)$% /,+,5$-$+)
-$A1C% &(1-,01014% 4,',&-()$% ,'-$+1,-014 =EK%.%%2(+%#*,'9+(10&%,&0.<%H9+-#$+%8,+03 01^9$1&$% 291&-0(1% ,1.% ,+$% -#$% 5$&#,3
A0-# K3,&$-*'4'9&(),501$>'01@$. =>? ,70'0-*%0)%01-+(.9&$.%01-(%-#$%PXP%&#,01 10)5% 7*% A#0&#% 01)-+9&-0(1)% ,+$% .$61$.
,1. =>N<% X% 62-#% 4$1$+,'% -$+5% 9)$.% -( 7*%$/05$+0F,-0(1%+$,&-0(1)%,1.%)9'2,-0(1 A0-#01% -#$% 5('$&9'$<% "#9)C% -#$% '01$,+
.$)&+07$%PXP)C%,1.%(2%/,+-0&9',+%05/(+3 +$,&-0(1)<%"#$%&(1-+('%(2%-#$)$%+$,&-0(1) PXP%)#(9'.%7$%&(1)0.$+$.%,)%,%5('$&9'$
-,1&$% -(% &9-,1$(9)% 70('(4*C% 0)% H1*/$A$& .$/$1.)%(1%-#$%1,-9+$%(2%-#$%PXPC%-#$ &(1-,01014% 012(+5,-0(1C% :9)-% ,)% 012(+5,3
'D+-$A1<% "#0)% 2(+5% (2% PXP% G,')(% @1(A1 &(+$% /+(-$01% -(% A#0&#% 0-% 5,*% 7$% ,-3 -0(1%0)%$1&(.$.%01%,%/+(-$01<%O*1-#$)0)%(2
!GC
PXP)% GA0-#% -#$% $;&$/-0(1% (2% #*,'9+(3
!"#$%&'()/
1,1J% (&&9+)% 01% -#$% P('40% ,//,+,-9)C% ,1.
.*)"'8)*$"%#C'*-'8)*$"*+/,&0#C
-#$% )$R9$1&$% 012(+5,-0(1% 0)% .$-$+501$.
7*% -#$% ,&-080-*% ,1.% '(&,-0(1% (2% 59'-0/'$ .1=4'8=16495 21.36915 <;<32'!3!'.1:815456
)/$&06&%$1F*5$)%,'(14%-#0)%/,-#A,*<%"(3 "8:?>=FBB7B>?
.,*C%5,1*%(2%-#$%)*1-#$-0&%$1F*5$)%-#,- #F?HBN=98 +>E:'=FBBEU'L>E6I<9BE *#U'.#
&(1-+('% #$/,+,1% )9'2,-$% )*1-#$)0)% ,1.
-#()$% $1F*5$)% +$)/(1)07'$% 2(+% /()-)*13 .FBB'E7?J>=F
-#$-0&%5(.06&,-0(1)%#,8$%7$$1%0.$1-06$. #N8@F=>8;4 nF?>:986=N:FEU'6:<F?'FI9:<FB9> *#U'.#
,1.%&#,+,&-$+0F$.<=E!%"#$%)9'2,-$.%PXP) #N8@F=>8;i (9L?6LB>E:EU'F8@6:<FB9>U'L68F *#
,+$%,''%)*1-#$)0F$.%(1%&(+$%/+(-$01)<%"#$ #N8@F=>8;_ /F7?>B'=FBBEU'B9GLE *#
-$-+,),&&#,+0.$% ;*'()$>4,',&-()$>4,',&3 #N8@F=>8;S 1L9^79:67EU'BNGI<69@ *#U'.#
-()$>4'9&9+(10&%,&0.%0)%6+)-%,))$57'$.%(1 /A;i /F7?>BU'GFB>86G> .#
-#$%&(+$%/+(-$01%7*%7$4011014%A0-#%,%;*3 ABNI9=>8'RA2.;4V W?>98U'Q>E=7B>?'F8@6:<FB9> *#
'()*'-+,1)2$+,)$% -#,-% 2(+5)% ,% '01@,4$% 7$3 .F?FL?6HBN=>8'RA2.;iV W?>98'68BN *#
-A$$1%;*'()$%,1.%,%)$+01$%+$)0.9$%01%-#$ $.";T'RA2.;_V "8:FE:98F'>8@'GFEF8=<NG>B *#
&(+$% /+(-$01<% O97)$R9$1-% $'(14,-0(1% +$3 n;HBNI9=>8'RA2.;SV n9@8FNU'L?>98 *#
,&-0(1)%-#,-%(&&9+%01%-#$%P('40%,//,+,-9) ABNI9=>8;T'RA2.;TV W?>98U'Y9@8FNU'L68F *#
.$61$%-#$%1,-9+$%(2%-#$%PXP%&#,01<%B-%0) ABNI9=>8;3'RA2.;3V "8:FE:98FU'Y9@8FNU'B78H *#
,//+$&0,-$.% -#,-% /,+-% (2% -#$% 012(+5,-0(1 &I9=>8 nF?>:986=N:FE *#U'.#U'n#
1$&$)),+*%-(%.0+$&-%)*1-#$)0)%(2%-#$%PXP WF:>HBN=>8 (9L?6LB>E:EU'FI9:<FB9> *#
0)% $1&(.$.% A0-#01% -#$% &(+$% /+(-$01% )$3 &8@6=>8 &8@6:<FB9> !#
R9$1&$%0-)$'2<%"#$%61,'%/+(.9&-C%&(+$%/+(3 )<?6GL6G6@7B98 &8@6:<FB9> !#
-$01%A0-#%,--,&#$.%PXPC%.$61$)%-#$%/+(3 &M:?>=FBB7B>?'G>:?9M
-$(4'*&,1%G)$$%H04<%I=3=IXJ<%h*,'9+(1,1C
,HH?F=>8 .>?:9B>HF n#U'.#
-#$%(1'*%PXP%/+(.9&$.%A0-#(9-%,--,
0F?E9=>8 (9L?6LB>E:E .#U'!#
5$1-%-(%,%&(+$%/+(-$01C%0)%)*1-#$)0F$.%7*
W?FQ9=>8 W?>98 .#
,1%$1F*5$%&(5/'$;%,-%-#$%/',)5,%5$53
/F7?6=>8 W?>98 .#
7+,1$% ,1.% -#$1% $;-+9.$.% 01-(% -#$% $;-+,3
2<6EI<6=>8 W?>98 .#U'n#
&$''9',+%)/,&$<
!F=6?98 (9L?6LB>E:EU'6:<F?E !#
W9HBN=>8 W68F !#
.6?F'2?6:F98 &I9I<N=>8 .>?:9B>HF !#
Y9+%91.$+)-,1.014%(2%/+(-$(4'*&,1)%#,) $"( .>?:9B>HF
5,+@$.'*% ,.8,1&$.% ,)% ,% +$)9'-% (2% 013 (9L?6G6@7B98 (9L?6LB>E:E n#
&+$,)$.% 012(+5,-0(1% ,7(9-% -#$0+% &(+$ -7G9=>8 .6?8F> n#
/+(-$01)%,1.%-#$%)97)$R9$1-%9)$%(2%5(3 ,H?98 W?>98 *#
'$&9',+%-((')%-(%)-9.*%-#$%$;/+$))0(1%,1. 2F?BF=>8 W>EFGF8:'GFGL?>8FE *#
291&-0(1% (2% 7(-#% -#$% /+(-$01% &(+$% ,1. W>G>=>8 W>EFGF8:'GFGL?>8FE .#
PXP% &(5/(1$1-)<% U,1*% )/$&06&% /+(3 .#'j'=<68@?69:98'E7BJ>:Fa'!#'j'@F?G>:>8'E7BJ>:Fa'A,A'j'HBN=6E>G986HBN=>8a'*#'j'<FI>?>8'E7BJ>:Fa'n#'j'
-$(4'*&,1)% &,1% 1(A% 7$% .$61$.% ,1. YF?>:>8'E7BJ>:Fa'/A;i'j'/Ai'I?6:F6HBN=>8a'$"('j'6E:F698@7=:9QF'J>=:6?D'
)-9.0$.% 7,)$.% (1% -#$0+% &(+$% /+(-$01% )$3
R9$1&$)<% H(+% /9+/()$)% (2% (+4,10F,-0(1C
0-% 0)% 9)$29'% -(% 4+(9/% /+(-$(4'*&,1)% ,&3 PXP%,..0-0(1%,1.%IE%-(%KME%@.%,2-$+%-#$ 0'*J<% "#$% 4'*/0&,1% 2,50'*% (2% &(+$% /+(3
&(+.014%-(%-#$0+%)0-$%(2%$;/+$))0(1%7*%-#$ ,..0-0(1%(2%59'-0/'$%#$-$+(4$1(9)%PXP -$01)% )#,+$)% -#$% 4'*&(/#()/#,-0.*'
&$''<%O/$&06&%/+(-$(4'*&,1%&(+$%/+(-$01) &#,01)<==E% "#9)C% )$+4'*&01% 0)% ,% 910R9$ 01()0-('% ,1&#(+,4$% 5$&#,10)5% ,1.% ,
#,8$%7$$1%0.$1-06$.%A0-#01%-#$%&$''C%,-3 /+(-$(4'*&,1% 7$&,9)$% (2% 0-)% .0)-01&-08$ 910R9$% &*)-$01$% 5(-02% -#,-% 0)% '0@$'*% -(
-,&#$.%-(%-#$%&$''%)9+2,&$C%7(91.%A0-#01 &(+$% /+(-$01% )$R9$1&$C% ,1.% 01-+,&$''9',+ 05/,+-% ,% &(5/,&-% -$+-0,+*% )-+9&-9+$% -(
-#$%$;-+,&$''9',+%5,-+0;C%,1.%+$'$,)$.%01 '(&,'0F,-0(1<% B1% -#$% )@01C% )$+4'*&01% 0) -#$%/+(-$(4'*&,1)<%Q(1)$R9$1-'*C%4'*/03
)('97'$%2(+5%G",7'$%I=3DJ< 2(91.% A#$1$8$+% 5,)-% &$'')% (+% $()01(3 &,1)%&,1%7$%80)9,'0F$.%,)%,%&(5/,&-%/+(3
O$+4'*&01% 0)% -#$% 7$)-3@1(A1% 01-+,&$'3 /#0')% $1-$+% -#$% .$+5,'% )-+(5,<% Y1% +$3 -$01% /+$)$1-014% PXP% &#,01)% 01% &'()$
'9',+% /+(-$(4'*&,1% ,1.% 0)% 2(91.% A0-#01 '$,)$C%)$+4'*&01%7$&(5$)%,%5,:(+%)(9+&$ /+(;050-*% -(% -#$% (9-$+% )9+2,&$% (2% -#$
-#$%)$&+$-(+*%4+,19'$)%(2%#$5,-(/(0$-0& 2(+%-#$%.$'08$+*%(2%#04#'*%)9'2,-$.%#$/,3 /',)5,%5$57+,1$<
&$'')C% 01&'9.014% 5,)-% &$'')C% '$9@(&*-$)C +,1%)9'2,-$%PXP< "#$% )9+2,&$)% (2% 5()-% &$'')% &(1-,01% ,13
,1.% $()01(/#0')<% "#0)% &(+$% /+(-$01% 0) O$8$+,'% &$''% )9+2,&$% /+(-$(4'*&,1) (-#$+% 05/(+-,1-% 2,50'*% (2% /+(-$(4'*&,1)
/+(&$))$.% 29+-#$+% -(% &(1-,01% $0-#$+ #,8$%7$$1%0.$1-06$.%,1.%,+$%-#$%)97:$&- @1(A1% ,)% -#$% 'C&H1"$&'<% O*1.$&,1)C% '0@$
#$/,+,1% )9'2,-$% (+% &#(1.+(0-01% )9'2,-$ (2% 01-$+$)-% 7$&,9)$% (2% -#$0+% ,70'0-*% -( 4'*/0&,1)C%,+$%2(91.%01%,%A0.$%8,+0$-*%(2
PXP<% "#$% #$/,+,1% )9'2,-$% 2(+5% 0) 291&-0(1% ,-% -#$% 01-$+2,&$% 7$-A$$1% -#$ &$'')% ,1.% -0))9$)<% "#$% )-+9&-9+$% (2% -#$)$
2(91.%01%)$+(),'%5,)-%&$'')%,1.%0)%,%5,3 /',)5,%5$57+,1$%,1.%-#$%$;-+,&$''9',+ &$''% )9+2,&$% /+(-$(4'*&,1)% .022$+)% 2+(5
:(+% )(9+&$% 2+(5% A#0&#% #$/,+01% 0)% /#,+3 $180+(15$1-<% "#$)$% &$''% /+(-$(4'*&,1) -#,-% (2% -#$% 4'*/0&,1)C% #(A$8$+C% 01% -#,-
5,&('(40&,''*% .$+08$.<% "#$% )$+4'*&01 &,1%7$%2(91.%,--,&#$.%-(%-#$%&$''%)9+2,&$ )*1.$&,1%&(+$%/+(-$01)%&(1)0)-%(2%,%)#(+-
/$/-0.$% &(+$% 0)% &(5/()$.% /+05,+0'*% (2 $0-#$+% 7*% ,% /#()/#('0/0.% ,1&#(+% G$<4<C Q3-$+501,'% &*-(/',)50&% +$40(1C% ,% -+,1)3
-,1.$5% )$+01$34'*&01$% +$/$,-)% ,1.% #,) 4'*/0&,1% 2,50'*J% (+% ,)% 5$57+,1$3)/,13 5$57+,1$% .(5,01C% ,1.% ,1% $;-+,&$''9',+
,1%$)-05,-$.%5,))%(2%=I%-(%=D%@.%7$2(+$ 1014% &(+$% /+(-$01)% G$<4<C% )*1.$&,1% 2,53 +$40(1% &(1-,01014% ,--,$1-% )0-$)% 2(+
!GE
PXP%&#,01)<%g1'0@$%4'*/0&,1)C%)*1.$&,1) )9'2,-$<% W$+)0&,1C% '0@$% ,44+$&,1C% ,')( -0(1%0)%-#$%,70'0-*%-(%701.%-(%(-#$+%5('$3
)/,1% -#$% /',)5,% 5$57+,1$% ,1.% $;-$1. 701.)% #*,'9+(10&% ,&0.C% A#0&#% $1,7'$)% 0- &9'$)%01%0-)%$180+(15$1-<%"#$+$2(+$C%-#$
7$*(1.% -#$% )9+2,&$% (2% -#$% &$''<% B1% -#0) -(%2(+5%',+4$%,44+$4,-$)<%B1%)@01C%8$+)0&,1 )$R9$1&$)% G7(-#% ,501(% ,&0.% )$R9$1&$
A,*C% )*1.$&,1)% ,+$% 01% ,% 910R9$% /()0-0(1 #,)% 7$$1% 0.$1-06$.% 01% -#$% .$+50)% G67+(3 ,1.% .0),&&#,+0.$% )$R9$1&$J% (2% -#$% &(+$
-(% &(11$&-% $;-+,&$''9',+% PXP% -(% )-+9&3 7',)-)J%,1.%$/0.$+50)%G@$+,-01(&*-$)J%,1. /+(-$01% ,1.% PXP% &(1-+('% /+(-$(4'*&,1
-9+$)% A0-#01% -#$% &*-(/',)50&% )/,&$<% "#$ .$5(1)-+,-$)% )$'$&-08$% 9/+$49',-0(1% 01 291&-0(1%7*%01^9$1&014%701.014<
&*-(/',)50&%.(5,01%05/,+-)%-#$%,70'0-*%(2 +$)/(1)$%-(%"PH3 <==!%"#9)C%-#$%)0F$C%.0)3 O050',+%PXP)%&,1%7$%2(91.%(1%59'-03
)*1.$&,1)% -(% /,+-0&0/,-$% 01% 01-+,&$''9',+ -+079-0(1C% ,1.% ,791.,1&$% (2% 8$+)0&,1% 01 /'$% &(+$% /+(-$01)<% "#0)% ,70'0-*% -(% 01-$+3
)041,'%-+,1).9&-0(1%80,%-#$%/+(-$01%@01,)$ -#$% )@01% )944$)-% -#,-% 0-% 0)% ,1% 05/(+-,1- &#,14$% PXP)% ,5(14% &(+$)% ,..)% &(53
Q% /,-#A,*<% \;/+$))0(1% (2% )*1.$&,1)% 0) 5('$&9'$%01%-#$%+$49',-0(1%(2%-#$%7$#,83 /'$;0-*% -(% -#$% )-9.*% (2% /+(-$(4'*&,1
,791.,1-% 01% )@01<% O*1.$&,1% -+,1)&+0/-) 0(+%(2%-#$%)@01< 291&-0(1<%"#$+$2(+$C%01%5,1*%&,)$)C%/+(3
,1.%/+(-$01)%,+$%$;/+$))$.%01%.0)-01&-%/,-3 B1%,..0-0(1%-(%-#$%4$1$)%$1&(.014%',+4$ -$(4'*&,1%291&-0(1%0)%.0)&9))$.%/9+$'*%01
-$+1)% .9+014% .$8$'(/5$1-===% ,1.% 01% 5,3 ,44+$4,-014% $;-+,&$''9',+% 5,-+0;% /+(3 -$+5)% (2% -#$% 291&-0(1% (2% PXP% &#,01)<
-9+$% -0))9$)<==L% O*1.$&,13=% 0)% /,+-0&93 -$(4'*&,1)% +$/+$)$1-$.% 7*% ,44+$&,1% ,1. "#0)%05/'0$)%-#,-%,%1957$+%(2%4$1$)%$13
',+'* ,791.,1-% (1% @$+,-01(&*-$)% ,1.% &,1 8$+)0&,1C% )$8$+,'% 4$1$)% $1&(.014% )5,''$+ &(.014% &(+$% /+(-$01)% &(1-,01014% -#$)$
8,+* -#$%1,-9+$%(2%,--,&#$.%PXP%&#,01) /+(-$(4'*&,1)%#,8$%7$$1%0.$1-06$.%01%-#$ PXP)%5,*%#,8$%,%)050',+%291&-0(1<%H04<
,)% @$+,-01(&*-$)% .022$+$1-0,-$<==N% ]9+014 $;-+,&$''9',+% 5,-+0;% ,)% A$''<% Y1$% 2,50'* I=3=K% 0''9)-+,-$)% )(5$% (2% -#$% 291&-0(1)
A(91.%+$/,0+C%)*1.$&,13=%,1.%)*1.$&,13 (2% -#$% /+(-$(4'*&,1)% 0)% &#,+,&-$+0F$.% 7* ,--+079-$.% -(% /+(-$(4'*&,1)% &(1-,01014
?% ,+$% #04#'*% 01.9&$.% 01% -#$% .$+50)% ,1. ,% '$9&01$3+0&#% +$/$,-% 5(-02<% "#$% /+(-(3 #$/,+,1% )9'2,-$% ,1.% .$+5,-,1% )9'2,-$<
4+,19',-0(1% -0))9$<==?% ]$'$-0(1% (2% )*1.$3 -*/$%(2%-#0)%2,50'*%0)%.$&(+01C%,1%,//+(;03 "#$% 291&-0(1)% /+(/()$.% 2(+% /+(-$(4'*3
&,13?% 2+(5% 50&$% 4+$,-'*% .$&+$,)$)% -#$ 5,-$'*% NI3@.% )$&+$-$.% /+(-$(4'*&,1< &,1)%&(1-,01014%-#$)$%PXP)%.$+08$%2+(5
+,-$% (2% A(91.% +$/,0+<==M% ]9+014% 5,'043 ]$&(+01% 0)% 2(91.% 01% ,791.,1&$% 01% )@01 -#$%,70'0-*%(2%-#$)$%5('$&9'$)%-(%701.%-(
1,1-% -+,1)2(+5,-0(1C% )*1.$&,13=% $;/+$)3 ,1.%&,+-0',4$%,1.%0)%-#(94#-%-(%7$%,%970R3 (-#$+% &(5/(1$1-)% (2% -#$% $;-+,&$''9',+
)0(1% .$&+$,)$)% 01% -#$% $/0.$+50)C==I% ,1. 90-(9)% &(5/(1$1-% (2% &(11$&-08$% -0))9$< $180+(15$1-% ,1.% 5$.0,-$% ,))$57'*% (2
$;/+$))0(1% &,1% ,'-$+% 5,'041,1-% 7$#,80(+ "#$%+$',-08$'*%)5,''%.$&(+01%&(+$%/+(-$01 ',+4$+%5('$&9',+%&(5/'$;$)<
01% )$'$&-% &$''% -*/$)<==K% "#9)C% )*1.$&,1) #,)% ,% )014'$% .$+5,-,1% )9'2,-$% &#,01% &(3 "#$% '0)-% (2% 5('$&9'$)% -(% A#0&#% -#$
#,8$%+$&$08$.%/,+-0&9',+%,--$1-0(1%,)%/+(3 8,'$1-'*% 7(91.% -(% ,% )$+01$% +$)0.9$% ,- 5,:(+% )@01% /+(-$(4'*&,1)% #$/,+,1% )9'3
-$(4'*&,1)%-#,-%5(.02*%&$''%291&-0(1<%a$3 ,501(% ,&0.% /()0-0(1% ?% ,1.C% '0@$% 5,1* 2,-$% ,1.% .$+5,-,1% )9'2,-$% 701.% 0)% R90-$
&,9)$%)*1.$&,1)%,1.%(-#$+%/+(-$(4'*&,1) (-#$+% /+(-$(4'*&,1)C% ,')(% #,)% K3'01@$. $;-$1)08$% G",7'$% I=3!J<% "#$+$2(+$C% )$83
&,1%&(1-,01%5(+$%-#,1%(1$%PXP%)/$&0$)C ('04(),&&#,+0.$)<% "#9)C% ,2-$+% PXP% ,..03 $+,'% 291&-0(1)% 2(+% /+(-$(4'*&,1)% #,8$
$0-#$+% )059'-,1$(9)'*% (+% 91.$+% .022$+$1- -0(1C% .$&(+01% &,1% #,8$% ,% 5,))% (2% DE% @.< 7$$1%/+(/()$.%-#,-%01&'9.$%-#$%/,+-0&93
&$''9',+% &0+&95)-,1&$)C% PXP% $;/+$))0(1 ]$&(+01%+$&$08$.%0-)%1,5$%2+(5%(7)$+8,3 ',+% 70('(40&% )*)-$5% 01% A#0&#% -#$% '04,1.
/+(80.$)% ,1(-#$+% 5$&#,10)5% (2% +$49',3 -0(1)%-#,-%-#0)%5('$&9'$%&'()$'*%,))(&0,-$) 0)% 018('8$.<% O(5$% (2% -#$% 5()-% &(5/$'3
-0(1%01%,..0-0(1%-(%/+(-$01%$;/+$))0(1< A0-#% &('',4$1% 67+0')% ,1.% &,1% 7$% )$$1% -( '014%$;/$+05$1-,'%$80.$1&$%2(+%-#$%291&3
"#$%$;-+,&$''9',+%5,-+0;%&(1-,01)%59'-03 m.$&(+,-$n% -#$% 67+0')% 01% 808(<% "#0)% 01-$+3 -0(1)% (2% #$/,+,1% ,1.% .$+5,-,1% )9'2,-$
/'$% /+(-$(4'*&,1)% -#,-% #,8$% 1(A% 7$$1 ,&-0(1% 0)% ,--+079-$.% -(% -#$% ,70'0-*% (2% -#$ /+(-$(4'*&,1)% 0.$1-06$)% -#$% ,70'0-*% -(
0.$1-06$.% ,1.% )-9.0$.<% X44+$&,1C% ,% ',+4$ .$&(+01% &(+$% /+(-$01% -(% .0+$&-'*% 701.% -( 701.% )$8$+,'% 4+(A-#% 2,&-(+)C% &*-(@01$)C
/+(-$(4'*&,1%2(91.%01%&,+-0',4$C%#,)%7$$1 &('',4$1%-*/$%B<=LE%"#$%)014'$%PXP%&#,01 ,1.%&(5/(1$1-)%(2%-#$%$;-+,&$''9',+%5,3
)-9.0$.%$;-$1)08$'*<%"#0)%&(+$%/+(-$01%&(13 (2% .$&(+01% ,')(% 701.)% -(% -$1,)&013SC% ,13 -+0;<=LNC=L?% `95$+(9)% ',7(+,-(+0$)% #,8$
-,01)%,%+$40(1%A0-#%(8$+%=EE%)$+01$34'*&01$ (-#$+%$;-+,&$''9',+%5,-+0;%/+(-$01%-#,-%&(3 )#(A1% -#,-% #$/,+,1% )9'2,-$% 0)% +$R90+$.
.0/$/-0.$)% -#,-% )$+8$% ,)% ,--,$1-% )0-$) '(&,'0F$)% A0-#% &('',4$1% 67+0')% 01% &(11$&3 2(+% -#$% 291&-0(1% (2% )$8$+,'% 4+(A-#% 2,&3
2(+%&#(1.+(0-01%)9'2,-$%PXP<%"#$%,//+(;3 -08$%-0))9$)<=L=%"#$)$%701.014%01-$+,&-0(1) -(+)C% 01&'9.014% )$8$+,'% 5$57$+)% (2% -#$
05,-$'*%LNE3@.%&(+$%/+(-$01%&,1%7$%5(.03 &(1-+079-$% -(% &('',4$1% 67+0'% 2(+5,-0(1 67+(7',)-% 4+(A-#% 2,&-(+% 2,50'*C=LMC=LI
6$.%-(%&(1-,01%9/%-(%=NE%PXP%&#,01)%,1. ,1.% 01^9$1&$% 291&-0(1<% B1-$+$)-014'*C #$/,-(&*-$% 4+(A-#% 2,&-(+k)&,--$+% 2,&3
#,8$% ,% 61,'% 5,))% (2% ,//+(;05,-$'*% LLEE )050',+% /#$1(-*/$)% )#(A014% ,71(+5,' -(+C=LK% ,1.% 8,)&9',+% $1.(-#$'0,'% 4+(A-#
@.<==D%"#0)%.$1)$'*%/,&@$.%59'-0/'$3PXP &('',4$1% 5(+/#('(4*% ,+$% )$$1% 01% ,% /,3 2,&-(+<=LD%B1%-#0)%5(.$'C%-#$%#$/,+,1%)9'3
&(1649+,-0(1% #,)% 7$$1% .$)&+07$.% ,)% , -0$1-% .$6&0$1-% 01% -$1,)&013S% ,1.% 01% -#$ 2,-$%/+(-$(4'*&,1%&,1%7$%2(91.%$0-#$+%,-
m7(--'$% 7+9)#n% -(% 01.0&,-$% -#$% /+$.0&-$. 59+01$%.$&(+01%@1(&@(9-%5(.$'<=LL -#$%&$''%)9+2,&$%(+%01%,%)('97'$%2(+5<%"#$
)-+9&-9+$<% "#$% ,44+$&,1% &(+$% /+(-$01% ,')( 5('$&9'$)% -#$1% ,))$57'$% -(% 2(+5% ,% -$+3
&(1-,01)% )0-$)% 2(+% @$+,-,1% )9'2,-$% ,--, 1,+*% &(5/'$;% ,-% -#$% &$''% )9+2,&$% 7$3
(78=:968
5$1-%,1.%,%.(5,01%2(+%1(1&(8,'$1-%701.3 -A$$1% -#$% 4+(A-#% 2,&-(+C% 0-)% )/$&06&
014%-(%#*,'9+(10&%,&0.<%X)%5,1*%,)%=EE%,43 "(% 91.$+)-,1.% #(A% /+(-$(4'*&,1) #04#3,2610-*% )041,'014% +$&$/-(+C% ,1.% -#$
4+$&,1% 5('$&9'$)% &,1% 701.% -(% ,% )014'$ 291&-0(1%01%-#$%)@01%0-%0)%$))$1-0,'%-(%,/3 /+(-$(4'*&,1% G)$$% H04<% I=3=KJ<=L!% Y1'*
#*,'9+(10&%,&0.%5('$&9'$<%"#9)C%-#$%(8$+3 /+$&0,-$% -#$% 7,)0&)% (2% -#$0+% (+4,10F,3 ,2-$+% -#0)% -$+1,+*% &(5/'$;% 0)% 2(+5$.
,''% /+(-$(4'*&,1% ,44+$4,-$% G2+(5% A#0&# -0(1j G=J% /+(-$(4'*&,1)% ,+$% /,+-% /+(-$01 .($)% -#$% &$''% +$&$08$% -#$% 4+(A-#% 2,&-(+
-#$%1,5$% $00*1"$&% 0)% .$+08$.J% &,1% #,8$% , ,1.% /,+-% PXPc% GLJ% PXP)% ,+$% #$-$+(4$3 )041,'%-(%7$401%-(%/+('02$+,-$C%.022$+$1-03
5,))%1$,+%LEECEEE%@.<==D 1$(9)% 79-% $1&(.$% )/$&06&% 012(+5,-0(1c ,-$C%(+%504+,-$<%"#$%,70'0-*%(2%.$+5,-,1
B1% -#$% )@01C% 67+(7',)-)% /+(.9&$% ',+4$ GNJ% /+(-$(4'*&,1% &(+$% /+(-$01)% ,+$% $;3 )9'2,-$% -(% /,+-0&0/,-$% 01% -#$)$% 01-$+,&3
,44+$4,-014% /+(-$(4'*&,1)% )050',+% -(% ,43 /+$))$.% 01% .022$+$1-% &$''9',+% &(5/,+-3 -0(1)% #,)% 7$$1% .$5(1)-+,-$.C=NEC=N=% ,1.
4+$&,1<% "#$% 7$)-% @1(A1% (2% -#$)$% ',+4$ 5$1-)c% ,1.% G?J% /+(-$(4'*&,1% $;/+$))0(1 -#$%)04106&,1&$%(2%-#0)%,))$57'*%-(%)@01
/+(-$(4'*&,1)% 0)% L1*'%"$&<% "#$% &(+$% /+(3 ,1.% PXP% &(5/()0-0(1% 8,+*% ,&&(+.014 70('(4*% 0)% ,//,+$1-% .9+014% A(91.% +$3
-$01%(2%8$+)0&,1%&(1-,01)%,--,$1-%)0-$) -(%&$''9',+%&(1-$;-<%"#$)$%&#,+,&-$+0)-0&) /,0+<%h$/,+,1%)9'2,-$>.$/$1.$1-%4+(A-#
2(+%=L%-(%=M%PXP%&#,01)C%A#0&#%,+$%/+03 ,+$%05/(+-,1-C%7$&,9)$%-#$%291.,5$1-,' 2,&-(+)C% )9&#% ,)% 5$57$+)% (2% -#$% 67+(3
5,+0'*% &#(1.+(0-01% )9'2,-$% (+% .$+5,-,1 01^9$1&$% .0&-,-014% /+(-$(4'*&,1% 291&3 7',)-% 4+(A-#% 2,&-(+% 2,50'*C% ,+$% 01.9&$.
!TF
2=>?@-,A"B"# )<F6?F:9=>B'G6@FBE'J6?'I?6:F6HBN=>8'J78=:968D'HI'2?6:F6HBN=>8E'>E'=6;?F=FI:6?E'J6?'H?6Z:<'J>=:6?ED'2?6:F6HBN=>8U'H?6Z:<'J>=:6?U'>8@'EIF=9K=
?F=FI:6?' G7E:'>BB' >EEFGLBF'>:':<F'=FBB'E7?J>=F'LFJ6?F'H?6Z:<'J>=:6?'=>8'>=:9Q>:F' :<F'=FBBD' #F=?F:F@'FM:?>=FBB7B>?'I?6:F6HBN=>8E'G>N' EF^7FE:F?'>8@' E:>L9B9\F
H?6Z:<'J>=:6?ED'JI'2?6:F6HBN=>8E'>E'FM:?>=FBB7B>?'G>:?9M'?F=FI:6?ED'2?6:F6HBN=>8'=>8'>EEFGLBF'Z9:<'6:<F?'G>:?9M'>@<FE968'?F=FI:6?E'RFDHDU'98:FH?98EV':6'>9@'98'=FBB
>@<F?F8=FD')<F'I?6:F6HBN=>8'EN8@F=>8;S'>BE6'98:F?>=:E'>8@'E9H8>BE':<?67H<'I?6:F98'Y98>EF'.'R2n.V':6'F8>LBF'=FBB'>=:9Q>:968'LN'G>:?9M'>@<FE968D
01%,%#$,'014%A(91.=NL%,1.%01^9$1&$%-#$ I=3=KJ<% O*1.$&,13?% 0)% )$'$&-08$'*% $13 -#$% /#*)0&(&#$50&,'% /+(/$+-0$)% (2% #*3
A(91.%+$/,0+%/+(&$))%-#+(94#%-#$%)-053 +0&#$.%01%.$+5,'%67+(7',)-)%,-%)0-$)%&(13 ,'9+(1,1%)$+8$%-(%$;/,1.%-#$%5,-+0;%,1.
9',-0(1% (2% @$+,-01(&*-$% /+('02$+,-0(1C% 63 )0)-$1-%A0-#%-#0)%291&-0(1<%H9+-#$+5(+$C -#9)%,0.%&$''%5(8$5$1-)<%Y-#$+%/#*)0&,'
7+(7',)-% 4+(A-#C% ,1.% ,140(4$1$)0)< -#$% 2(+5,-0(1% (2% -#$)$% 2(&,'% ,.#$)0(1) /+(/$+-0$)% ,--+079-$.% -(% PXP% ,1.% ',+4$
h$/,+,1% )9'2,-$% /+(-$(4'*&,1)% )9&#% ,) +$R90+$)% #$/,+,1% )9'2,-$% ,1.% -#$% )97)$3 /+(-$(4'*&,1% &(5/'$;$)C% )9&#% ,)% -#()$
)*1.$&,13=%,1.% )*1.$&,13?% ,+$%,')(% 013 R9$1-%,&-08,-0(1%(2%/+(-$01%@01,)$%Q%7* 2(+5$.% A0-#% 8$+)0&,1% (+% 7,)$5$1-
.9&$.%,-%-#$)$%)0-$)=NN%,1.%$1,7'$%,&-083 ,%.(5,01%01%-#$%)*1.$&,13?%&(+$%/+(-$01 5$57+,1$% /+(-$(4'*&,1)C% 01&'9.$% -#$0+
0-*%(2%-#$%4+(A-#%2,&-(+<%a$&,9)$%.$+5,3 &*-(/',)50&% -,0'<=NI% B1% -#0)% )$--014C% 7(-# ,70'0-*%-(%,&-%,)%,10(10&%6'-$+)%,1.%$',)-0&
-,1% )9'2,-$% 0)% -#$% /+$.(501,1-% PXP% 01 -#$% $;-+,&$''9',+% PXP% ,1.% 01-+,&$''9',+ &9)#0(1)% ,1.% -#$0+% 291&-0(1% 01% ),'-% ,1.
A(91.% ^90.% ,1.% 7$&,9)$% 0-% &,1% 701.% , &(+$% /+(-$01% (2% -#$% /+(-$(4'*&,1% #,8$ A,-$+%7,',1&$<%B1%2$-,'%)@01C%-#$%#04#%+$'3
8,+0$-*% (2% 4+(A-#% 2,&-(+)C% &*-(@01$)C .$5(1)-+,7'$%291&-0(1< ,-08$%&(1-$1-%(2%#*,'9+(1,1%#,)%7$$1%,)3
,1.% $;-+,&$''9',+% 5,-+0;% /+(-$01)C% -#$ Y-#$+% /+(-$(4'*&,1)% ,')(% 01-$+,&- )(&0,-$.%A0-#%-#$%,70'0-*%(2%2$-,'%)@01%-(
29+-#$+%)-9.*%(2%-#0)%PXP%,1.%-#$%/+(3 A0-#%5,-+0;%5('$&9'$)<%Q#(1.+(0-01%)9'3 #$,'%A0-#(9-%)&,+<
-$(4'*&,1)% 0-% &(5/+0)$)% /+(50)$)% -(% 7$ 2,-$%,1.%.$+5,-,1%)9'2,-$%701.%67+(1$&3 U9'-0/'$% &9-,1$(9)% .0)(+.$+)% ,+$% ,)3
,1%$;&0-014%,+$,%2(+%29-9+$%018$)-04,-0(1< -01%,1.%',50101<=NK%X)%5$1-0(1$.%$,+'0$+C )(&0,-$.% A0-#% ,71(+5,'% /+(-$(4'*&,1
"#$% 01^9$1&$% (2% -#$% /+(-$(4'*&,1 .$&(+01C% -(% A#0&#% .$+5,-,1% )9'2,-$% 0) )*1-#$)0)%(+%.$/()0-0(1<%X%.$6&0$1&*%(2
&(+$%/+(-$01%(1%&$''%7$#,80(+%0)%-#(94#- -*/0&,''*%,--,&#$.C%0)%@1(A1%-(%,))(&0,-$ .$&(+01%&(+$%/+(-$01%#,)%7$$1%.$)&+07$.
-(% +$',-$% -(% -#$% ,70'0-*% (2% -#$% &(+$% /+(3 /+05,+0'*% A0-#% -*/$% B% &('',4$1% 80,% 0-) ,)%-#$%&,9)$%(2%,%8,+0,1-%2(+5%(2%\#'$+)3
-$01% -(% 01^9$1&$% -#$% ,5(91-% ,1.% '(&,'3 &(+$% /+(-$01<=LE% B1% 50&$C% )$'$&-08$% .0)3 ],1'()% )*1.+(5$<% B12$&-0(9)% .0)$,)$% 0)
0F,-0(1% (2% PXP% $;/+$))0(1<% B1% -#$% $;3 +9/-0(1%(2%-#$%.$&(+01%4$1$%'$,.)%-(%,73 01^9$1&$.% 7*% /+(-$(4'*&,1% $;/+$))0(1<
,5/'$% (2% A(91.% +$/,0+C% #$/,+,1% ,1. 1(+5,'% &('',4$1% 5(+/#('(4*% ,1.% 013 H(+% $;,5/'$C%.$&(+013.$6&0$1-% 50&$% ,+$
.$+5,-,1% )9'2,-$% $;/+$))0(1% 0)% 01^93 &+$,)$.% )@01% 2+,40'0-*<=LL% "#9)C% -#+(94# )(5$A#,-% +$)0)-,1-% -(% 012$&-0(1% A0-#
$1&$.%7*%-#$%$;/+$))0(1%(2%-#$%)*1.$&,1 -,+4$-$.% .0)+9/-0(1% (2% -#$% 4$1$% 01% -#$ :.**1+%$! )D*0H.*-1*%<% d+$)95,7'*% -#0)% +$3
&(+$%/+(-$01)%-(%A#0&#%-#$%PXP)%,+$%&(3 5(9)$C%-#$%291&-0(1%(2%.$&(+01%,)%,%)-,3 )0)-,1&$% 0)% &,9)$.% 7*% ,% /,+-0,'% .$/$13
8,'$1-'*% ,--,&#$.<% Y-#$+% 5('$&9'$)C 70'0F$+% (2% &('',4$1% 67+0')% #,)% 7$$1% .03 .$1&$% (2% -#$% (+4,10)5% (1% .$&(+01% 2(+
)9&#% ,)% -#$% )*1.$&,1% 01.9&$+% dV3N!C=NN +$&-'*%&(16+5$.< 701.014% 01% -#$% .$+50)<=?E% ]9+014% ,4014C
-#$% )*1.$&,1% 01#070-(+% -95(+% 1$&+()0) "#$%291&-0(1%(2%-#$%',+4$%$;-+,&$''9',+ -#$%&(5/()0-0(1%(2%PXP%01%-#$%)@01%913
2,&-(+3 C=N?%,1.%"PH3 C%&,1%#,8$%)041063 5,-+0;% /+(-$(4'*&,1)% 01%)@01%0)%-#(94#- .$+4($)% ,% 5,+@$.% &#,14$<=?=C=?L% B-% #,)
&,1-%01^9$1&$%(1%-#$%A(91.%+$/,0+%/+(3 -(%+$',-$%/+05,+0'*%-(%-#$%/#*)0&,'%/+(/3 7$$1% /+(/()$.% -#,-% -#$% (7)$+8$.% .$3
&$))%7*%&(1-+(''014%PXP%,1.%/+(-$(4'*3 $+-0$)% 01#$+$1-% 01% -#$0+% ',+4$% 5,))% ,1. &+$,)$%01%#*,'9+(10&%,&0.%&,1%$;/',01%.03
&,1%$;/+$))0(1<=NM &#,+4$% .$1)0-*<% h*,'9+(1,1% #,)% 7$$1 5010)#$.%)@01%-9+4(+%01%,4$.%)@01<%V$-03
O-9.*%(2%-#$%$;/+$))0(1%(2%/+(-$(4'*3 )-9.0$.% $;-$1)08$'*% 2+(5% -#0)% /$+)/$&3 1(0.)% ,')(% $22$&-% -#0)% +$)/(1)$<=?N% B1
&,1)% #,)% $;/,1.$.% -#$% .0+$&-% $80.$1&$ -08$%7$&,9)$%(2%0-)%$;-+$5$%#*.+(/#0'0&3 @$'(0.)C%#*,'9+(10&%,&0.%)*1-#$)0)%0)%$'$3
2(+%,%291&-0(1%2(+%-#$)$%5('$&9'$)<%B1%,.3 0-*% ,1.% 80)&()0-*% 01% .0'9-$% )('9-0(1<% X) 8,-$.<=??% "#*+(0.% #(+5(1$% ,')(% #,)% ,
.0-0(1% -(% 701.014% -(% 4+(A-#% 2,&-(+)C .0)&9))$.%$,+'0$+C%#*,'9+(10&%,&0.%0)%/9+$ 5,+@$.% $22$&-% (1% -#$% )*1-#$)0)% (2% /+(3
#$/,+,1% )9'2,-$% /+(-$(4'*&,1)% /',*% ,1 PXP% ,1.% 0)% )*1-#$)0F$.% $;-+,&$''9',+'* -$(4'*&,1)% ,1.% PXP)<% "#$% 5,102$)-,3
05/(+-,1-%+('$%01%,.#$)0(1%-(%-#$%$;-+,3 A0-#(9-% ,% &(+$% /+(-$01<% "#$% 4$1$)% 2(+ -0(1%(2%-#0)%+$)/(1)$%0)%)$$1%01%/+$-070,'
&$''9',+%5,-+0;<%B1%-#$%&9++$1-%5(.$'C%&$'' #95,1% #*,'9+(1,1% )*1-#,)$% #,8$% 7$$1 5*;$.$5,C%01%A#0&#%-#$%59&01(9)%5,3
)9+2,&$% /+(-$(4'*&,1)C% 01% &(1:91&-0(1 &'(1$.%,1.%0.$1-06$.<=NDC=N!%"#$%$;/+$)3 -$+0,'%.$/()0-$.%0)%/+$.(501,1-'*%#*,'93
A0-#% (-#$+% 5,-+0;3701.014% 5('$&9'$) )0(1% (2% #*,'9+(1,1% 0)% .$8$'(/5$1-,''* +(10&% ,&0.% ,1.% &#(1.+(0-01% )9'2,-$<
)9&#% ,)% -#$% 01-$4+01)C% #$'/% -#$% &$''% ,.3 +$49',-$.% 01% )@01% ,1.% &#,14$)% .9+014 Y-#$+% /,-#('(40&% )@01% &(1.0-0(1)C% 013
#$+$%-(%-#$%$;-+,&$''9',+%5,-+0;%G)$$%H04< A(91.%+$/,0+<%B-%#,)%7$$1%/+(/()$.%-#,- &'9.014% /)$9.(;,1-#(5,% $',)-0&95C
!T"
05/'*% -#,-% ,71(+5,'% /+(-$(4'*&,1% 5$3
!"#$%&'()0
-,7('0)5% 0)% +$)/(1)07'$% 2(+% -#$)$% .0)(+3
?%#K%#+'9#$")0&$%*#C'*-'("F0)0#';L/-0$"V'@")E0$0#';L/-0$"V'0#K'("F0)%#
.$+)C%79-%-#$*%)944$)-%-#,-%59&#%(2%-#$
.364!1=7 29!35@ /,-#(/#*)0('(4*% (2% )@01% .0)$,)$%&,1% 7$
&M:?>=FBB7B>?'G>:?9M'=6GI68F8:E .6BB>HF8':NIFE'"U'"""U'"0U'0 01^9$1&$.%7*%-#$%291&-0(1%(2%&9-,1$(9)
(9L?68F=:98 /+(-$(4'*&,1)<
->G9898
2BF96:?6I<98 n&`'%&(&%&/.&#
)F8>E=98;X
)<?6GL6EI68@98 )<F'J7BB'?FJF?F8=F'B9E:'J6?'>BB'=<>I:F?E'
09:?68F=:98 9E'>Q>9B>LBF'>:'ZZZD@9HGOD=6GD
Z8:;"
=< U*''*#,+:9% oC% f080+0@@(% fBj% Q('',4$1)C
Z8:;98@7=F@'EF=?F:6?N'I?6:F98
5(.02*014% $1F*5$)% ,1.% -#$0+% 59-,3
A?6Z:<'J>=:6?E'RA(EV (9L?6LB>E:'A('J>G9BN -0(1)% 01% #95,1)C% ^0$)% ,1.% A(+5)<
*FI>:6=N:F'A([E=>::F?'J>=:6? 6*1&H'!<1&1A 01jNNC%LEE?<
L< H+,1F@$%QeC%a+9&@1$+%dC%a+9&@1$+3"9.3
*FI>?98;L98@98H'FI9@F?G>B'A( $+5,1% bj% Q('',4$1(9)% -+,1)5$57+,1$
2B>:FBF:;@F?9QF@'A( /+(-$01)j% V$&$1-% 01)04#-)% 01-(% 70('(4*
#=<Z>886G>;@F?9QF@'A( ,1.% /,-#('(4*<% M! :%.+! 4#1/ 021j?EEMC
0>E=7B>?'F8@6:<FB9>B'A( LEEM<
=D<% a+0)-(A% oC% Q,+$*% eC% \44014% ]C% O&#,'@3
A?6Z:<'J>=:6?'L98@98H'I?6:F98E'RW2EV (6BB9E:>:98 A0:@%oj%"$1,)&013SC%&('',4$1C%$',)-01C%,1.
"8E7B98;B9YF'A('W2;_ -#$%\#'$+)3],1'()%)*1.+(5$<%3/!M!N1H
<1&1A!4!J1/%&!N1H!<1&1A 345jL?C%LEEM<
)?>8EJ6?G98H'A(; 'W2 L=< b,5/$% XfC% a9)#7*% fUj% Q('',4$1% WB
.N:6Y98FE )?>8EJ6?G98H'A(; +$',-$.% 59)&'$% .0)(+.$+)<% M! N1H! <1&1A
60jIKNC%LEEM<
"8:F?BF7Y98'f LM< W,+@0% V% $-% ,'j% \/0.$+5('*)0)% 79''(),<% BB<
"8:F?JF?68; k98@7=9LBF'I?6:F98;4P "*/$%WBB%&('',4$1%59-,-0(1)%,1.%/#$1(3
"8:F?JF?68; -*/$k4$1(-*/$%&(++$',-0(1)%01%-#$%.*)-+(3
+>=?6I<>HF'98<9L9:6?N'I?6:F98;4 /#0&%)97-*/$)<%M!N1H!<1&1A%66j=D=CLEEK
NK<% H',11$+*% QVj% UUd)% ,1.% X]XU"O)j
.FBB'>@<FE968'G6BF=7BFE'R.,+EV .!ST H91&-0(1,'% )-9.0$)<% 2*.&A! :%.'"% 33jM??C
-;EFBF=:98 LEEI<
ML< b$5,0-+$% WC% ]lX+50$1-(% oj% U,-+0;% 5$-3
+>=;4 ,''(/+(-$01,)$)%01%.$8$'(/5$1-%,1.%.0)3
/F7?>B'=FBB'>@<FE968'G6BF=7BF $,)$< :%*A#! G1-1"A'! O1'! 4! F/)*C.! 6.H$C
2B>:FBF:[F8@6:<FB9>B'.,+ 72j=C%LEEI<
MD< f0$'-*% Q% $-% ,'j% \',)-0&% 67$+)<% M! 41++! J"%
2?6:F>EFE[>8:9I?6:F>EFE &B>E:>EF 338jLD=KC%LEEL
)<?6GL98 DL<% U('1,+%o%$-%,'j%O-+9&-9+,'%,1.%291&-0(1,'
)9EE7F'IB>EG986HF8'>=:9Q>:6? .08$+)0-*%(2%'*)*'%(;0.,)$%,1.%-#$%bYS3
'0@$% /+(-$01)<% :%."#%/! :%.B#C'! 3"A$
,8:9:<?6GL98'"""
3967jLLEC%LEEN<
*FI>?98'=6;J>=:6?'"" DI< g0--(% oC%d9'@@01$1%bj% h$+0-,7'$%.0)$,)$)
-F7EF?I98 ,22$&-014% -#$% $',)-0&% -0))9$)j% Q9-0)% ',;,C
2B>EG986HF8'>=:9Q>:6?'98<9L9:6?;" /)$9.(;,1-#(5,% $',)-0&95% ,1.% +$',-$.
.0)(+.$+)C%01%F/1*C!$&H!O%/.%&P'!;*%&"%B+1'
2?6:F98'.'98<9L9:6?
$&H! ;*$"A%"1! .-! N1H%"$+! <1&1A%"'C% ?-#% $.C
2?6:F>EF'8FM98'" $.0-$.% 7*% V05(01% ]b% $-% ,'<% `$A% T(+@C
2>:<6HF8E H.'>8@'HW'6J'<F?IFE'E9GIBFM'Q9?7E Q#9+�''%b08014)-(1$C%LEELC%/%?E??
!N< V,50+$F% H% $-% ,'j% H07+0''01% 50&+(67+0')j
H.;44'6J'=N:6GFH>B6Q9?7E U9'-0/9+/()$% $;-+,&$''9',+% 1$-A(+@)% 01
HI'4iP'6J'<7G>8'9GG786@FK=9F8=N'Q9?7E (+4,10)5,'% /#*)0('(4*<% ;#C'%.+! <1&./,
0/$J#A9*"*""G'!$G),G''E7?J>=F'I?6:F98E %"' 35j=M=C%LEE?
2F8F:?98'6J'M)AJ$&*'*>$!")G;% !M<% V02@01% ]aj% b,-$1-% -+,1)2(+5014% 4+(A-#
2,&-(+37$-,%G"PH37$-,J%701.014%/+(-$01)j
0/),J/*"*""G'!>G/$&''E7?J>=F'I?6:F98E Y+&#$)-+,-(+)%(2%"PH37$-,%,8,0',70'0-*<%M
P,%'',)%$!+*&*))#*,$,'E7?J>=F'I?6:F98E :%.+!4#1/ 021jK?E!C%LEEM
+N=6L>=:F?9>B'E7?J>=F'I?6:F98E !D<% "05/'%V%$-%,'j%H079'01)j%X%8$+),-0'$%2,53
,@<FE98'I?6:F98E'6J'@*)),9%$!:G)+F*).,)% 0'*% (2% $;-+,&$''9',+% 5,-+0;% /+(-$01)<% K$A
O1L!N.+!41++!:%.+ 6j?K!C%LEEN<
=EM< Q('(57,--0%X%$-%,'j%"#$%\UBbB`%/+(-$01
2,50'*<%N$A*%Q!:%.+ 35jLD!C%LEEE
)&'$+(.$+5,C%/)(+0,)0)C%,%8,+0,1-%2(+5%(2 )@01C%#,8$%,')(%7$$1%+$/(+-$.%-(%7$%&#,+3 =L?< B(FF(% VWj% a,)$5$1-% 5$57+,1$% /+(3
\#'$+)3],1'()% )*1.+(5$C% '0&#$1% 5*;3 ,&-$+0F$.% 7*%,71(+5,'% ,5(91-)%(2% /+(3 -$(4'*&,1)j% H+(5% &$'',+% -(% &$0'014<% K$A
$.$5,C% ,1.% 9'-+,80('$-% a>0++,.0,-$. -$(4'*&,1)<% "#$)$% ,))(&0,-0(1)% .(% 1(- O1L!N.+!41++!:%.+ 9jI?IC%LEEM
!TD
.$+5,C%A0''%#,8$%,% &#+(10&%&(9+)$% A0-# "PH3 % G=C% LC% ,1.% NJ% ,+$% /+$)$1-% 01% #93
.*,2)&%'3i )$8$+,'% +$',/)$)C% )(5$-05$)% 7,+$'*% .$3 5,1)c%"PH3 =%0)%-#$%7$)-%)-9.0$.<
-$&-,7'$%&'010&,''*<I O(5$% $80.$1&$% )944$)-)% -#,-% -#$% 63
7+(-0&%+$)/(1)$%5,*%7$%.+08$1%/+$.(503
8%4U:)' 1,1-'*%7*%Q]?i%"%&$'')<%d',)5,%&$'')%,1.
&:96B6HN'>8@'2>:<6HF8FE9E #0)-0(&*-$)% &,1% /+(7,7'*% &(1-+079-$% -(
098=F8:'(>B>8H> -#$%)-059',-0(1%(2%.$+5,'%67+(7',)-)<%B13
"#$% $-0('(4*% (2% bO% 0)% 91@1(A1<% "#$+$
.<?9E:98>'&D'n9BB6?>8 ,+$% +$/(+-)% (2% 5(+/#$,% ,2-$+% 012$&-0(1
^,55,-(+*%&$'')%2(91.%01%-#$%.$+50)%(2
)&'$+(.$+5,%'$)0(1)%,+$%/+05,+0'*%"%'*53
A0-#% 5$,)'$)C% 8,+0&$'',C% ,1.% :.**1+%$
/#(&*-$)C%5,01'*%"%#$'/$+%&$'')<%"#$+$%0)
+$%2*&, )D*0H.*-1*%<% Y-#$+% )944$)-$.% -+044$+)% 013
,')(% 01&+$,)$.% 01-$+'$9@01% L% GBb3LJ% ,1.
&'9.$% -+,95,C% 7,&0''$% Q,'5$--$3P9p+01
b(&,'0F$.%)&'$+(.$+5,%GbOJC%(+%5(+/#$,C Bb3?% /+(.9&-0(1<LE% X-% '$,)-% 01% -#$% )*)3
8,&&01,-0(1C% 80-,501% a% 01:$&-0(1C% +,.0,3
.022$+)% 2+(5% )*)-$50&% )&'$+()0)% G)&'$+(3 -$50&% 2(+5% (2% )&'$+(.$+5,C% &(11$&-08$
-0(1%-#$+,/*C%/$10&0'',501$C%,1.%7+(5(3
.$+5,J%7*%-#$%/+$)$1&$%(2%8,+0(9)%&9-,3 -0))9$% 4+(A-#% 2,&-(+% #,)% ,')(% 7$$1% 053
&+0/-01$<% h(A$8$+C% 1(% .0+$&-% $-0('(4*
1$(9)%5(+/#('(40&%8,+0,1-)%,1.%-#$%,73 /'0&,-$.<==CL=CLL% X% /,-#(4$10&% +('$% 2(+
#,)%$8$+%7$$1%/+(8$.<%O944$)-$.%/,-#(3
)$1&$% (2% &'010&,''*% .$-$&-,7'$% )*)-$50& .$+5,'% .$1.+(&*-$)% #,)% ,')(% 7$$1% )943
4$10&% $8$1-)% ,+$% )050',+% -(% -#()$% #*3
018('8$5$1-<%"#$+$%5,*%7$%(8$+',/)%01 4$)-$.<% "#$% /+$)$1&$% (2% Q]N?i% ,1.% (2
/(-#$)0F$.%2(+%)*)-$50&%)&'$+()0)<%\1.(3
-#$%/,-#(4$1$)0)%(2%67+()0)%01%-#$%'(&,'3 2,&-(+% SBBB,i% .$+5,'% .$1.+(&*-$)% &(++$3
-#$'0,'% &$''% .,5,4$C% 01^,55,-0(1% ,1.
0F$.%,1.%)*)-$50&%2(+5)< ',-$)%A0-#%,&-08$%01^,55,-0(1%,1.%)&'$3
+$'$,)$% (2% &*-(@01$)% -#,-% )-059',-$% &('3
+()0)%01%bO<!%"#$%/,-#(4$10&%+('$%(2%5,)-
',4$1% /+(.9&-0(1% 7*% 67+(7',)-)C% ,1.% ,1
&$'')% 01% bO% #,)% 1(-% 7$$1% &'$,+'*% $'9&03
057,',1&$% (2% $;-+,&$''9',+% 5,-+0;% -9+13
&I9@FG96B6HN .,-$.C% 79-% 5,)-% &$'')% 5,*% 7$% ,% &(5/(3
(8$+%01%-#$%)@01%)$$5%'0@$'*<%"#$%+$,)(1
1$1-%(2%)&'$+(.$+5,-(9)%)@01C%$)/$&0,''*
bO% #,)% 7$$1% +$/(+-$.% -(% #,8$% ,1% 01&03 2(+% -#$% '050-$.% .0)-+079-0(1% (2% bO% 0)% 913
01%-#$%01^,55,-(+*%,1.%$,+'*%)-,4$)<LNCL?
.$1&$% (2% L<K% /$+% =EECEEE<=% "#$+$% 0)% , &'$,+C% 79-% -#$% /,--$+1014% )944$)-)% -#,-
U,)-%&$''%4+,19'$)%&(1-,01%&#$50&,'%5$3
5,'$>2$5,'$% +,-0(% (2% =jL% -(% NC% ,1.% -#$ 5(),0&% 4$1$-0&% &#,14$)% 5,*% &(1-+079-$
.0,-(+)% ,1.% /+(-$('*-0&% $1F*5$)% -#,-
&(1.0-0(1%0)%5(+$%&(55(1%01%Q,9&,)0,1) G)$$ $H04<%IL3E<=%01%(13'01$%$.0-0(1J<
&,1% )-059',-$% 67+(7',)-)% ,1.% $8$1% ,&-03
,1.%X)0,1)%-#,1%01%X2+0&,1%X5$+0&,1)<L>? U,1*%)-9.0$)%#,8$%)944$)-$.%,%/,-#(3
8,-$%/+(67+(-0&%&*-(@01$)C%G0<$<C%"PH3 Jc
X''% 8,+0,1-)% (&&9+% 01% ,.9'-)% ,1.% �'.+$1 4$10&% +('$% 2(+% -+,1)2(+5014% 4+(A-#% 2,&3
#0)-,501$% 5,*% ,')(% )-059',-$% &('',4$1
,1.% &,1% (&&9+% ,-% ,1*% ,4$<% b01$,+% )&'$+(3 -(+3 % G"PH3 J<% "PH3 % )-059',-$)% 67+(3
/+(.9&-0(1<L?
.$+5,% 0)% 5(+$% &(55(1% 01% �'.+$1% ,1. 7',)-)% -(% /+(.9&$% 01&+$,)$.% ,5(91-)% (2
&,1%/+$)$1-%01%-#$%6+)-%(+%)$&(1.%.$&,.$C 4'*&(),501(4'*&,1)C% 67+(1$&-01C% ,1.
A#$+$,)% 5(+/#$,% ,1.% 4$1$+,'0F$.% 5(+3 &('',4$1c% .$&+$,)$)% $;-+,&$''9',+% 5,-+0; .B989=>B'(98@98HE
/#$,% ,+$% 5(+$% &(55(1% 01% ,.9'-)% ,1. 7+$,@.(A1c%,1.%0-%.05010)#$)%67+(7',)-
9)9,''*%/+$)$1-%01%50.'02$<N>M%"#$%+$',-08$ )9)&$/-070'0-*% -(% ,/(/-()0)<% "PH3 % #,) "#$+$% ,+$% -#+$$% 5,01% 8,+0,1-)% (2% bOj
2+$R9$1&*% (2% -#$% .022$+$1-% 5(+/#('(40& 7$$1%2(91.%-(%7$%01&+$,)$.%01%'$)0(1)%(2 5(+/#$,% GH04<% IL3=JC% 4$1$+,'0F$.% 5(+3
8,+0,1-)%0)%1(-%&'$,+C%,1.%+$/(+-$.%)-9.0$) bO% ,)% A$''% ,)% 01% -#$% )@01% ,1.% 67+(-0& /#$,%G)$$%$H04<%IL3=<=%01%(13'01$%$.0-0(1JC
#,8$% 2(91.% .022$+$1-% +,-$)<% B1% ,22$&-$. '914)% (2% /,-0$1-)% A0-#% )*)-$50&% )&'$+(3 ,1.%'01$,+%)&'$+(.$+5,%GH04<%IL3LC IL3NJ<
,.9'-)C% NM% /$+&$1-% -(% IM% /$+&$1-% #,8$ )0)<K>==%O(5$%A(+@%)944$)-)%-#,-C%,-%'$,)- U(+/#$,% ,1.% 4$1$+,'0F$.% 5(+/#$,
/',R9$3-*/$%5(+/#$,C%D%/$+&$1-%-(%!%/$+3 01%)*)-$50&%)&'$+()0)C%"PH3 %+$&$/-(+%$;3 #,8$% ,% )'(A% ,1.% 01)0.0(9)% (1)$-% ,1.
&$1-%4$1$+,'0F$.%5(+/#$,C%I%/$+&$1-%-(%?I /+$))0(1% 01% .$+5,'% 67+(7',)-)% 0)% 013 -*/0&,''*% ,22$&-% -#$% -+91@<L% Y-#$+% '$))
/$+&$1-%'01$,+%)&'$+(.$+5,C%N<M%/$+&$1-%$1 &+$,)$.<% "#$+$% ,+$% ,')(% .,-,% )9//(+-014 2+$R9$1-% 8,+0,1-)% 01&'9.$% 79''(9)C% @$3
&(9/%.$%),7+$C%N<M%/$+&$1-%5(+/#$,%/+(3 -#$% /())070'0-*% -#,-% ,'-$+,-0(1)% 01% -#$ '(0.,'C% 49--,-$C% ,1.% )97&9-,1$(9)% 5(+3
291.,C% ,1.% '$))% -#,1% =% /$+&$1-% 49--,-$C O5,.%/+(-$01%/,-#A,*C%A#0&#%0)%05/(+3 /#$,% GH04<% IL3?J<% b01$,+% )&'$+(.$+5,% 0)
79''(9)% 5(+/#$,C% ,1.% d,++*3V(57$+4 -,1-% 01% "PH3 % )041,'% -+,1).9&-0(1C% 5,* 5(+$%&(55(1%01%�'.+$1%*(914$+%-#,1
)*1.+(5$<LCI% Y1$% )-9.*C% A#0&#% 01&'9.$. /',*% ,% +('$% 01% &('',4$1% (8$+/+(.9&3
=LI%�'.+$1C%2(91.%-#,-%?D%/$+&$1-%(2%/,3 -0(1<=L>=D% H07+(7',)-% &9'-9+$)% .$+08$.
-0$1-)% #,.% /',R9$3-*/$% 5(+/#$,C% =K<M 2+(5%)*)-$50&%)&'$+()0)%,1.%bO%/+(.9&$
/$+&$1-%'01$,+C%=?%/$+&$1-%50;$.%5(+/#(3 01&+$,)$.% ,5(91-)% (2% &(11$&-08$% -0))9$
'(40&% -*/$C% D% /$+&$1-% d,++*3V(57$+4C% N &(5/(1$1-)C%01&'9.014%&('',4$1%-*/$%B%01
/$+&$1-% 4$1$+,'0F$.% 5(+/#$,C% N% /$+&$1- 80-+(<% O@01% 70(/)0$)% #,8$% )#(A1% ,
$1% &(9/% .$% ),7+$C% L% /$+&$1-% ,% @$'(0.,' 4+$,-$+% &,/,&0-*% 2(+% &('',4$1% (8$+/+(3
2(+5C%,1.%'$))%-#,1%=%/$+&$1-%#,.%/,1)&'$3 .9&-0(1% ,1.% )973/(/9',-0(1% (2% 67+(3
+(-0&% 5(+/#$,% (2% �'.#((.C% 5(+/#$, 7',)-)%A0-#%,&-08,-0(1%(2%-*/$%B%&('',4$1
/+(291.,C%(+%79''(9)%5(+/#$,<I $;/+$))0(1c% -#$)$% 67+(7',)-)% &(3'(&,'0F$
"#$%,8$+,4$%.9+,-0(1%(2%&'010&,''*%,&3 A0-#% 01^,55,-(+*% 5(1(19&'$,+% &$'')
-08$%.0)$,)$%+,14$)%2+(5%N%-(%I%*$,+)<LCI -#,-%$;/+$))%"PH3 <!C=!%a0(/)0$)%(2%)&'$3
B1% &#+(10&% &,)$)C% )'(A% &'010&,'% /+(4+$)3 +(-0&% '$)0(1)% ,')(% )#(A% $;/+$))0(1% (2
)0(1% 5,*% /$+)0)-% 2(+% .$&,.$)<% U()-% /,3 .022$+$1-% 0)(2(+5)% (2% "PH3 C% ,)% A$''% ,)
-0$1-)% A0''% #,8$% ,% &'010&,'% +$50))0(1% (2 -0))9$% 5$-,''(/+(-$01,)$3N% G"BUd3NJ% 01
.0)$,)$<%d,-0$1-)%A0-#%/',R9$3-*/$%5(+3 )973/(/9',-0(1)% (2% 67+(7',)-)% &9'-9+$.
/#$,% ,+$% 5()-% '0@$'*% -(% #,8$% -#$% )#(+-3 2+(5% bO% '$)0(1)<D>=E% "PH3 % $1#,1&$)
$)-%.0)$,)$%.9+,-0(1<%V,+$%/,-0$1-)C%$)/$3 "BUd3N%$;/+$))0(1C%,1.%"BUd3N%01#070-) 2=>?@-,ADB" +6?I<F>c' ,' :NI9=>B' G6?I<F>
&0,''*% -#()$% A0-#% 4$1$+,'0F$.% 5(+/#$,C 7+$,@.(A1% (2% &('',4$1<=!% B-% )#(9'.% 7$ IB>^7FD',:'>8'F>?B9F?'E:>HFU'68F'G9H<:'EFF'>'Q96;
5(+/#$,% /+(291.,C% (+% '01$,+% )&'$+(3 1(-$.% -#,-% -#+$$% .022$+$1-% 0)(2(+5)% (2 B>=F67E'L6?@F?'>8@'G6?F'F@FG>D !TG
2=>?@-,ADB! -98F>?' E=BF?6@F?G>U' F8' =67I
@F'E>L?Fc'$LB9^7F'Q9FZD
H ,1.%#0)-('(40&,''*%(8$+',//014%2$,-9+$)
(2%'0&#$1%)&'$+()9)C%5(+/#$,C%,1.%$()013
(/#0'0&%2,)&00-0)%G\HJC%)944$)-014%-#,-
-#$)$%.0)(+.$+)%5,*%7$%/,+-%(2%,%)/$&3
-+95%(2%67+(-0&%.0)$,)$<LKCLD
$;-+,4$10-,'%5,102$)-,-0(1)%-#,-%,+$%4$13 )(1)%/$+%*$,+<=%bO%0)%5(+$%/+$8,'$1-%01%2$3
.*,2)&%'3_ $+,''*% 1(13/+9+0-0&<% Y2% 1(-$C% 89'8,+% .0)3 5,'$)C%,&&(91-014%2(+%,%Mj=%4$1.$+%+,-0(<
$,)$%)$$5)%-(%#,8$%,1%01&+$,)$.%+0)@%(2 B-% /+$2$+$1-0,''*% ,22$&-)% A(5$1% 01% -#$
)R9,5(9)%&$''%&,+&01(5,C%79-%-#$%+('$%(2 62-#% (+% )0;-#% .$&,.$% (2% '02$% ,1.% �'.+$1
S01:)*,K1&)4%.7. ,..0-0(1,'%&(32,&-(+)%G$<4<C%#95,1%/,/0'3 *(914$+%-#,1%%-#$%,4$%(2%=E%*$,+)<=CL%g/
'(5,80+9)% 012$&-0(1% (+% /+0(+% +,.0(-#$+3 -(% =M% /$+&$1-% (2% bO% &,)$)% (&&9+% 01% �'3
1B?9=<'%D'*F8HHF ,/*J%#,)%1(-%7$$1%.$61$.< .+$1C%/,+-0&9',+'*%01% 40+')C%,1.%(1$% )-9.*
+$/(+-$.%,%/+$8,'$1&$%(2%=%01%!EE%/+$5$3
1,+&#,'%40+')<N%X%E<EK%/$+&$1-%01&0.$1&$%01
b0&#$1%)&'$+()9)%GbOJ%0)%,%&#+(10&%01^,53 &2"!&+"$-$A` 5,'$)%#,)%+$&$1-'*%7$$1%.$-$+501$.%01%,
5,-(+*% .$+5,-()0)% (2% -#$% ,1(4$10-,' "#$% 01&0.$1&$% (2% bO% #,)% 1(-% 7$$1% /+$3 )-9.*%(2%=MNC?NL% 5,'$%)('.0$+)<?% X5(14
,+$,%-#,-%,22$&-)%R9,'0-*%(2%'02$%.9$%-(%-#$ &0)$'*%.$-$+501$.<%B-%#,)%7$$1%$)-05,-$. 7',&@)% ,1.% h0)/,10&)C% -#$% 01&0.$1&$% 01
)$8$+$%0-<%bO%5,*%,')(%/+$)$1-%A0-# -(%7$%01%-#$%(+.$+%(2%=?%/$+%=EECEEE%/$+3 -#0)%4+(9/%A,)%=<EI%/$+&$1-C%A#$+$,)%-#$
!TA
/$+10&0(9)% ,1$50,C% 5(+/#$,C% ,1.% 80-03
-".*&/ 2,)-%+(.)C%)/0+(&#$-$)C%(+%:.**1+%$C%#,)%1(-
7$$1% 2(91.<K% O$+('(40&% ,1.% &'010&,'% $803 '04(C%A#0&#%)#(9'.%7$%+9'$.%(9-C%1(%,.3
.$1&$%(2%-#*+(0.%.0)$,)$C%,'(/$&0,%,+$,-,C .0-0(1,'% +$',-$.% 61.014)% #,8$% 7$$1% +$3
#.-&%$#1# /$+10&0(9)%,1$50,C%,1.%80-0'04(%)944$)-$.
,1%,))(&0,-0(1%A0-#%bO<%\;-+,4$10-,'%bO%0)
/(+-$.<% B1% /,+-0&9',+C% 4$10-,'% 012$&-0(1)
7*% #$+/$)% )05/'$;% 80+9)% (+% 4$&H%H$% .(
,)','A-,/.&' &(55(1'*% )$$1% 01% ,))(&0,-0(1% A0-#
/',R9$3-*/$%5(+/#$,C%,1.%)(5$%,9-#(+)
1(-%)$$5%-(%7$%01&+$,)$.%01%bO%/,-0$1-)<
#,8$%)944$)-$.%,%&(55(1%/,-#(5$&#,3
10)5<%V$&$1-'*C%'(A3-0-$+%,9-(,1-07(.0$) -,W$%,)$%`')&#)#
,4,01)-%-#$%$;-+,&$''9',+%5,-+0;%/+(-$013= *9E:6I>:<6B6HN
G\QU3=J% ,1.% &('',4$1% SWBB% #,8$% 7$$1
0.$1-06$.% 01% IK% /$+&$1-% (2% bO<DC!% \QU3= Q',))0&,'%bO%)#(A)%,1%,-+(/#0&%$/0.$+3
G)$$%Q#,/<%=NKJ%5,*%7$%018('8$.%01%7,)$3 50)% ,1.% ,% '0&#$1(0.% 016'-+,-$% ,-% -#$
5$1-% 5$57+,1$% ,1.% 01-$+)-0-0,'% &('',4$3 .$+5,'3$/0.$+5,'% :91&-0(1<=?% d,/0'',+*
"8J?F^7F8:'=<?689='98]>GG>:6?N'@F?G>:6; $.$5,%0)%9)9,''*%)$$1%01%$,+'*%bO%79-%0)
1(9)% 67$+% ,))$57'*% ,1.% 4+(A-#32,&-(+
E9E'Z9:<'>86HF89:>B'>8@'FM:?>HF89:>B'G>89; 4+,.9,''*% +$/',&$.% 7*% 67+()0)% A0-#% #(3
701.014C=E% ,1.% 5,*% ,')(% +$49',-$% 7'((.
JFE:>:968ED 5(4$10F,-0(1% (2% ,&0.% 59&(/('*),&&#,3
8$))$'% 291&-0(1<==% b(&,'% 0++0-,-0(1% ,')(
2?FJF?F8:9>BBN'>JJF=:E'Z6GF8'98':<F'KJ:<'6?' )$$5)%-(%/',*%,%+('$%01%)(5$%&,)$)<%"#$ +0.$)% ,)% -#$% '$)0(1% 5,-9+$)% GH04<% IN3NJ<
E9M:<'@F=>@F'6J'B9JF'>8@'=<9B@?F8'N678HF?' .0)-9+7$.%291&-0(1%(2%67+(7',)-)%A0-#%013 "#$% '*5/#(&*-0&% 016'-+,-$% 01% bO% &(13
:<>8':<F'>HF'6J'4P'NF>?Ea'HF8@F?'?>:96'Tc4' &+$,)$.% /+(.9&-0(1%(2%&('',4$1% #,)% 7$$1 -,01)%,791.,1-%"%&$'')C%a%&$'')C%,1.%,1-03
JFG>BFkG>BFD .$5(1)-+,-$.%01%bO<=LC=N 4$13/+$)$1-014% .$1.+0-0&% &$'')% -#,-% ,+$
,8:9L6@9FE':6'FM:?>=FBB7B>?'G>:?9M'I?6:F98; 5,:(+% #0)-(&(5/,-070'0-*% &(5/'$;% &',))
4'>8@')'=FBBE'Z9:<'?F=FI:6?'?F>??>8HFGF8:' BBiC% Q]DiC% ,1.% Q]MKi<=MC=I% X% 5(1(3
I698:':6'>8'>7:69GG78F'I>:<6HF8FE9ED .-"/".,-'("/!"/A# &'(1,'% "3&$''%+$&$/-(+% 3&#,01% +$,++,14$3
.7:>8F67E'-FE968E 5$1-%#,)%,''9.$.%-(%-#$%$;0)-$1&$%(2%,1
,86HF89:>B'G>89JFE:>:968E'=>7EF'EFQF?F'
bO% ,1-04$1C% /(-$1-0,''*% -#$% \QU3=% /+(3
@9E=6GJ6?:'RI?7?9:7EU'@NEI>?F789>U'@NE;
d('*4(1,'% /,/9'$)% ,1.% /(+&$',013A#0-$ -$01C%A#0&#%0)%,')(%+$&(410F$.%7*%-#$%+$3
7?9>U'>8@'I>98J7B'@FJF=>:968V'>8@'I?FEF8:'
/',R9$)% A0-#% ,-+(/#0&% 2+,40'$% )@01C% 6)3 &$1-'*%.$)&+07$.%,9-(,1-07(.0$)<DC=K%\/03
Z9:<'I6BNH68>B'I>I7BFE'>8@'I6?=FB>98;
)9+$)C% -$',140$&-,)0,)C% /9+/9+,C% $+*-#$5,C .$+5,'% #*/$+/',)0,% ,1.k(+% .*)/',)0,
Z<9:F'IB>^7FEU'F?6E968EU'>8@'Q>?967E'
$+()0(1)C%,1.%.022$+$1-%.$4+$$)%(2%)&'$+()0) ,))(&0,-$.%A0-#%bO%(1%89'8,+%)/$&05$1)
@FH?FFE'6J'E=BF?6E9ED
,+$% /+$)$1-% 01% -#$% ,1(4$10-,'% ,+$,% GH04< ,+$%,))(&0,-$.%A0-#%,1%01&+$,)$.%+0)@%(2
07BQ>?'B9=<F8'E=BF?6E7E'9E'>EE6=9>:F@'Z9:<' IN3=X%-(%HJc%)(5$-05$)%-#$%&',))0&,'%649+$3 5,'041,1-% -+,1)2(+5,-0(1C% $)/$&0,''*% 01
>8'98=?F>EF@'?9EY'6J'E^7>G67E'=FBB'=>?=9; D%/,--$+1%(2%-#$%89'8,%,1.%,19)%5,*%7$%(73 &(1:91&-0(1% A0-#% 012$&-0(1% 7*% #04#3+0)@
86G>a':<F'?6BF'6J'<7G>8'I>I9BB6G>Q9?7E' )$+8$.% G)$$% H04<% IN3=\J<% a'0)-$+)% G(&&,)0(13 /,/0''(5,80+9)$)<
98JF=:968'6?'I?96?'?>@96:<F?>IN'?FG>98E':6' ,''*%#$5(++#,40&J%5,*%.$8$'(/%A#$1%-#$
LF'FB7=9@>:F@D '0&#$1(0.% 016'-+,-$% )$/,+,-$)% $/0.$+50)
26:F8:':6I9=>B'=6?:9=6E:F?69@E'>8@'EY98' 2+(5% -#$% )&'$+(-0&% .$+50)<% "#$% )0F$% (2% bO #IF=9>B')FE:E
=>?F'>?F':<F'G6E:'E7==FEEJ7B':<F?>IF7; '$)0(1)% 5,*% 8,+*% 2+(5% ,% 2$A% 50''05$-$+) B5,4014% )-9.0$)% ,+$% (1'*% 1$$.$.% 01% )/$3
:9=Ea'=>B=98F7?98'>8:>H689E:E'<>QF'>BE6' -(%',+4$%/(+-0(1)%(2%-#$%-+91@<%X1(4$10-,' &0,'% )0-9,-0(1)% G$<4<C% 9+01,+*% (7)-+9&-0(1
?F=F8:BN'@FG68E:?>:F@'LF8FK:D bO% 2+$R9$1-'*% &,9)$)% 01-+,&-,7'$% 0- )$&(1.,+*%-(%)-$1()014%4$10-,'%bOJ<%h04#3
"8:F?@9E=9IB98>?N'G>8>HFGF8:'9E'FEEF8; ,1.% )(+$1$))C% .*)/,+$910,C% .*)9+0,C% .0)3 +$)('9-0(1% 9'-+,)(91.% 0)% (&&,)0(1,''*
:9>B'J6?'B68H;:F?G'=68:?6BD &(52(+-%A0-#%.$2$&,-0(1C%(+%4$10-,'%7'$$.3 9)$.%-(%.(&95$1-%-#$%.$/-#%(2%)&'$+()0)<
014%,1.C%A0-#%-05$C%5,*%'$,.%-(%.$)-+9&-08$
)&,++014%G)$$%H04<% IN3=HJ<%P+,.9,'%(7'0-$+,3
01&0.$1&$% A,)% (1'*% E<EM=% /$+&$1-% 01 -0(1%(+%)*1$�,$%(2%-#$%',70,%501(+,%,1. !",A/$#"#',/!'
A#0-$%)('.0$+)<?%bO%)$$5)%-(%7$%,%/+(503 &'0-(+0)C%,)%A$''%,)%)-$1()0)%(2%-#$%01-+(0-9)C !"((&%&/)",-'!",A/$#"#
1$1-%&,9)$%(2%/#05()0)c%01%(1$%)-9.*C%=? 5,*%,')(%+$)9'-%G)$$%Q#,/<%KIJ<%U,'$%4$103 X% )@01% /91&#% 70(/)*% (2% ,% 5,-9+$% '$)0(1
/$+&$1-% (2% ,.('$)&$1-% 7(*)% #,.% bOC -,'%bO%0)%9)9,''*%&(161$.%-(%-#$%4',1)%/$3 A0''%&(16+5%-#$%.0,41()0)%02%-#$%.0,41()0)
A#$+$,)%?E%/$+&$1-%(2%/#05()0)%&,)$)%01 10)C% /+$/9&$C% (+% 2(+$)@01% +$51,1-)% G)$$ 0)% 1(-% (780(9)% 7*% &'010&,'% $;,501,-0(1<
,.9'-% 5$1% A$+$% ,))(&0,-$.% A0-#% bO<M H04<%IN3=X%-(%QJ<%d$10'$%)#,2-%018('8$5$1- \QU3=% ,9-(,1-07(.0$)% 5,*% 7$% .$-$&-$.
O050',+'*C%,%+$&$1-%)-9.*%(2%2(+$)@01)%$;3 0)%'$))%&(55(1C%A#$+$,)%)&+(-,'%018('8$3 7*%)/$&0,'0F$.%',7(+,-(+0$)c%,%&(55$+&0,'
,501$.%,2-$+%-#$+,/$9-0&%&0+&95&0)0(1%2(+ 5$1-%0)%+,+$<%U,1*%5,'$%4$10-,'%bO%&,)$) $1F*5$3'01@$.%05591()(+7$1-%,)),*%#,)
/#05()0)% &(16+5$.% 5,1*% &,)$)% (2% 913 ,+$% )05/'*% .0,41()$.% ,)% /#05()0)<% B1% )$3 +$&$1-'*% 7$&(5$% ,8,0',7'$<=D% ]$)/0-$% -#$
+$&(410F$.%bO<I%X)%4$10-,'%bO%01%5,'$)%0) 8$+$%&,)$)C%$+$&-0(1)%5,*%7$&(5$%/,0129' .$)&+07$.% ,))(&0,-0(1% A0-#% ,9-(05591$
,'5()-%$;&'9)08$'*%)$$1%01%91&0+&95&0)$. G)$$% Q#,/<% KMJ<% \;-+,4$10-,'% 5,102$)-,3 .0)$,)$)C% ,1% ,9-(05591$% A(+@9/% G$<4<C
5$1C%-#$%+,-$%(2% &0+&95&0)0(1% 01%,%408$1 -0(1)% -*/0&,''*% ,22$&-% -#$% -#04#C% -#$% 1$&@C ,1-0319&'$,+% ,1-07(.*C% /,+0$-,'% &$''% ,1-03
/(/9',-0(1% #,)% ,% )-+(14% 05/,&-% (1% -#$ ,1.% -+91@c% '$)0(1)% ,+$% 9)9,''*% ,)*5/-(3 7(.*C%80-,501%a=L%'$8$')C%-#*+(0.%291&-0(1
(&&9++$1&$%(2%-#$%.0)$,)$< 5,-0&% GH04<% IN3LJ<% V,+$'*% -#$% (+,'% 59&(), -$)-)J%0)%1(-%4$1$+,''*%+$&(55$1.$.%.9$
5,*%,')(%7$%018('8$.< -(% -#$0+% +$',-08$'*% '(A% (&&9++$1&$<=!% H(+
-#$% ),5$% +$,)(1C% :.**1+%$% ,1-07(.*% -0-$+)
&)"$-$A`',/!'2,)*$A&/&#"# )#(9'.% 1(-% 7$% ,1,'*F$.C% ,)% -#$*% ,+$% 1(-
%FB>:F@'2<NE9=>B'(98@98HE
"#$%&,9)$%(2%bO%0)%91@1(A1<%"#$+$%0)%1( ,))(&0,-$.% A0-#% bO<LE% "(% $;&'9.$% )R9,3
4$1$-0&%/+$.0)/()0-0(1<K%\80.$1&$%2(+%-#$ \;&$/-%2(+%-#$%,))(&0,-0(1%A0-#%,9-(053 5(9)% &$''% &,+&01(5,C% +$/$-0-08$% 70(/)0$)
/+$)95$.%012$&-0(9)%&,9)$C%)9&#%,)%,&0.3 591$% -#*+(0.% .0)$,)$C% ,'(/$&0,% ,+$,-,C 5,*%7$%01.0&,-$.<
!T#
H J
2=>?@-,AGBD &M:?>HF89:>B' B9=<F8' E=BF?6E7E
Z9:<' =68]7F8:' Z<9:9E<' I>I7BFE' >8@' IB>^7FE' 68
:<F'EY98'6QF?':<F':<6?>=9='>8@'B7GL>?'EI98FD
"#$%.022$+$1-0,'%.0,41()0)%(2%bO%,1.%'(3
&,'0F$.% )&'$+(.$+5,% G5(+/#$,J% 5,*% 7$
.026&9'-% Ga(;% IN3=c% )$$% H04<% IN3LJ<% Q'0103
&,''*C%5(+/#$,%5,*%7$%&(129)$.%A0-#%$;3
-+,4$10-,'% bO<% U(+/#$,% +$/+$)$1-)% ,% &0+3
&95)&+07$.% &(11$&-08$% -0))9$% .0)$,)$
A0-#%,%1957$+%(2%.022$+$1-%/+$)$1-,-0(1)<
"*/0&,'%$,+'*%/',R9$3-*/$%'$)0(1)%)#(A%,
'0',&%+014%A0-#%/+(4+$))08$%&$1-+,'%01.9+,3
$ ; -0(1%,1.%A#0-$1014%,1.%/$+0/#$+,'%#*/$+3
/045$1-,-0(1% G)$$% Q#,/<% ILJ<% h0)-('(403
&,''*C%$,+'*%5(+/#$,%/+$)$1-)%,)%,%.$1)$
'*5/#(&*-0&C% )9/$+6&0,'C% ,1.% .$$/% /$+03
8,)&9',+% 016'-+,-$% A0-#% .$4$1$+,-0(1% (2
&('',4$1%67$+)<%B1%',-$+%)-,4$)C%01^,55,3
-0(1%0)%+$/',&$.%7*%.$+5,'%67+()0)%59&#
'0@$%-#$%&#,14$)%)$$1%01%bO<%d,-0$1-)%#,8$
7$$1% .$)&+07$.% A0-#% '$)0(1)% -*/0&,'% (2
- 2
2=>?@-,AGB" HI'&>?BN'E=BF?6E9E'>8@'E9H89K=>8:'<FG6??<>HF'68':<F'HB>8E'98'F>?BN'B9=<F8'E=BF?6E7ED
JI'#=BF?6E9E'6J':<F'J?F87B7G'>8@'98=?F>EF@'Q7B8F?>L9B9:N'Z9:<'LBFF@98H'7I68'EFM7>B'98:F?=67?EFD'$I'#9H89J;
9=>8:'E=BF?6E9E'6J':<F'HB>8E'>8@'=68HB7:98>:968'Z9:<':<F'I?FI7:97G'98'>@Q>8=F@'B9=<F8'E=BF?6E7ED'/6:F
8>??6Z98H' 6J' :<F' 7?F:<?>B' 6?9K=F' >8@' <FG6??<>HFD';I' "8' >@@9:968' :6' :<F' ZFBB;@FG>?=>:F@' Z<9:F' Q7BQ>?
IB>^7F':<>:'9E'=B>EE9='J6?'B9=<F8'E=BF?6E7EU':<F'Z>MN'>8@'=?98YBF@':FM:7?FU'I7?I7?>'R'>$99!$))*<' VU'>8@
F?6E968E' R9$)+,! $))*<V' >?F' @9>H86E:9=D' -I' #=BF?6:9=' Q7BQ>' Z9:<' @9E>IIF>?>8=F' 6J' :<F' EG>BBF?' B>L9>' >8@
2=>?@-,AGBG *NIF?YF?>:6:9='FI9:<FB97G'Z9:<;
E<?98Y>HF'6J':<F'98:?69:7ED'#9H89K=>8:'F?N:<FG>'>8@'F?6E968E'>?F'EFF8'68':<F'Q7BQ>'>8@':<F'>87E'98'>'KH;
67:'?F:F'BF@HFE'>8@'L>E>B'@FHF8F?>:968'6J'YF?>:9;
7?F;f' =68KH7?>:968D')<F' I>:9F8:' =6GIB>98F@' 6J' EFQF?F' I?7?9:7E' >8@' @NEI>?F789>D'2I' &?6E9QFU' E=BF?6:9=
86=N:FED' .6BB>HF8' KLF?E' >?F' <6G6HF89\F@' 98' :<F
Q7BQ>'98'>8'f;NF>?;6B@'H9?BD
I>I9BB>?N'@F?G9EU'>8@'>'B9=<F869@'BNGI<6=N:9='98KB;
:?>:F'9E'I?FEF8:D')<F'@F?G>B'QFEEFBE'>?F'@9B>:F@D
!TC
#12&'+)( #12&'+)*
@%--")"#$%0/'@%0+#*C%C'*-'2%&B"#';&/")*CLC 8%$-0//C'%#'$B"'@%0+#*C%C'*-'2%&B"#';&/")*CLC
>-M=NHS,8HM=2-KNHN=PMK q?68H[98=6GIBF:F'@9>H86E9E'98':<F'=>EF'6J'
,"-#'.)/ E^7>G67E'=FBB'=>?=986G>D
W>B>89:9E'IB>EG>=FBB7B>?9E'RC668'@9EF>EFV -9=<F8'E=BF?6E7EU'FEIF=9>BBN'Z<F8'L7BB67EU'
.<9B@'>L7EF'REFM7>BV <FG6??<>H9=U'6?'F?6E9QFa'G>N'LF'=68J7EF@'
.6GIB9=>:968E'6J'@F?G>:6B6H9='B>EF?'E7?HF?N Z9:<'=<9B@'>L7EFD
.68:>=:'@F?G>:9:9EU'98=B7@98H'FM=FEE9QF' "8>II?6I?9>:F'E7?QF9BB>8=F'J6?'E:F?69@'
HF89:>B'<NH9F8F >@QF?EF'FJJF=:ED
-9=<F8'IB>87E "??9:>8:'@F?G>:9:9E'@7F':6'6QF?Z>E<98H'6J'
-9=<F8'E9GIBFM'=<?689=7E :<F'>86HF89:>B'>?F>'G>N'9G9:>:F'B9=<F8'
09:9B9H6 E=BF?6E7E'>8@'J>=9B9:>:F':<F'6==7??F8=F'6J'
=68:>=:'@F?G>:9:9ED
34*)%54$
.9=>:?9=9>B'RE=>??98HV'IFGI<9H69@
&?N:<?6IB>E9>'6J'r7FN?>:'RW6ZF8'@9EF>EFV .$+2-".,)"$/#
-F7Y6IB>Y9>
#^7>G67E'=FBB'=>?=986G> a$)0.$)% .*)/,+$910,C% 9+01,+*% (7)-+9&3
2>HF:'@9EF>EF -0(1C% &(1)-0/,-0(1C% )$&(1.,+*% 012$&-0(1
+$',-$.% -(% 9'&$+,-0(1C% ,1.% )-$+(0.% 9)$C
-QN@H>-M=NHS,8HM=2-KNHN=PMK )R9,5(9)%&$''%&,+&01(5,%+$/+$)$1-)%-#$ H
,"-#'.)/ 5,01%&(5/'0&,-0(1%01%2$5,'$)%GH04<%IN3?J<
,8F:6@F?G> "#$% '02$-05$% +0)@% (2% .$8$'(/014% )R9,3
,:?6I<6@F?G>'6J'2>E989'>8@'29F?989 5(9)% &$''% &,1&$+% ,)% ,% &(5/'0&,-0(1% (2
"@96I>:<9='H7::>:F'<NI6GFB>86E9E '(143)-,1.014% bO% #,)% 7$$1% $)-05,-$.% 01
-9I69@'I?6:F986E9E'RG9B@'J6?GEU'EFF'.<>ID' -#$% (+.$+% (2% ?% /$+&$1-% -(% I% /$+&$1-<=CLI
4_OV X4$C% '(14% .9+,-0(1% (2% bOC%#95,1% /,/0'3
-9=<F8'89:9@7E '(5,80+9)%012$&-0(1C%,1.%$80.$1&$%(2%#*3
-9=<F8'IB>87E /$+/',)-0&% &#,14$)% +$/+$)$1-% )04106&,1-
+6?I<F> +0)@% 2,&-(+)<LKCLD% B1% 5,'$)C% /,0129'% $+$&3
298:> -0(1)% ,1.% 9+01,+*% (7)-+9&-0(1% +$/+$)$1-
)98F>'QF?E9=6B6? -#$%5()-%2+$R9$1-%&(5/'0&,-0(1)<
34*)%54$
!9E=69@'B7I7E'F?N:<FG>:6E7E 2%$A/$#"#',/!'
A?>J:;QF?E7E;<6E:'@9EF>EF'RE=BF?6@F?G>;B9YFV .-"/".,-'.$1%#&
&M:?>G>GG>?N'2>HF:'@9EF>EF
#^7>G67E'=FBB'=>?=986G> "#$% /+(41()0)% (2% bO% 0)% 4((.% 2(+% 5()-
,1(4$10-,'%&,)$)C%$)/$&0,''*%2(+%-#()$%01
/+$/97$+-,'% �'.+$1% -#,-% 5,*% +$)('8$
7(-#% /',R9$3-*/$% 5(+/#$,% ,1.% -#$ )/(1-,1$(9)'*% (+% 5,*% 7$% #$,'$.% ,2-$+
J
&#,'@*% A#0-$C% ,-+(/#0&% /',R9$)% (2% bOC -+$,-5$1-%A0-#%9'-+,/(-$1-%-(/0&,'%)-$+3
)944$)-014% -#,-% 5(+/#$,% ,1.% bO% 5,* (0.)<L!%"#$%.0)$,)$%0)%9)9,''*%)$'23'050-3 2=>?@-,AGBT HI' ,' 4DT;=GU' E<>?IBN' @FG>?;
)#,+$% ,% &(55(1% /,-#(5$&#,10)5<L= 014C% 79-% +$R90+$)% -+$,-5$1-% .9$% -(% -#$ =>:F@'7B=F?'6J'B68H;E:>8@98H'B9=<F8'E=BF?6E7E'68
X1-0319&'$,+% ,1-07(.0$)% 5,*% 7$% /()0-08$ )$8$+0-*% (2% /,-0$1-% .0)&(52(+-<% V$&,'&03 :<F'?9H<:'G>d6?'B>L97GD'JI'*9E:6B6HN'?FQF>BE'E^7>;
01%$0-#$+%5(+/#$,%(+%bO< -+,1-% &#+(10&% bO% &,9)014% $+()0(1)% ,1.
G67E'=FBB'=>?=986G>D
Q(1)-0/,-0(1% 0)% ,% &(55(1% &(5/'0&,3 /+(4+$))08$% )&,++014% 5,*% +$)9'-% 01% )$3
-0(1% 01% �'.+$1% A0-#% ,1(4$10-,'% bO<LL 8$+$% )$;9,'% .*)291&-0(1<% Q()5$-0&% 053
"#$% ,))(&0,-$.% /9+/9+,% ,1.% .0)&('(+,3 /+(8$5$1-% 2(+% $;-+,4$10-,'%&,)$)%,1.%2(+ 9$.C% A#$1% 1$&$)),+*C% A0-#% '$))% /(-$1-
-0(1% (2-$1% +,0)$% &(1&$+1% ,7(9-% �'. &#+(10&%,-+(/#0&%4$10-,'%.0)$,)$%0)%+,-#$+ &(+-0&()-$+(0.)% (+% &,'&01$9+01% 01#070-(+)
,79)$C%$)/$&0,''*%02%bO%0)%1(-%+$&(410F$. /((+< G)$$%7$'(AJ<
G)$$%Q#,/<%=EMJ<%bO%01%�'.+$1%#,)%(&&,3 Q,)$% )$+0$)% 9)014% -(/0&,'% -,&+('059)
)0(1,''*%7$$1%,))(&0,-$.%A0-#%,%/$+01$,' ,1.% /05$&+('059)% #,8$% )#(A1% &'010&,'
/*+,50.,'%/+(-+9)0(1C%,%&(55(1%'$)0(1
)%&,)+&/) $22$&-08$1$))<?E>??% X'-#(94#% 5,1*% (2
-#,-% &,1% 7$% &(129)$.% A0-#% &(1.*'(5, W,+0(9)% ,--$5/-)% -(% -+$,-% bO% #,8$% 7$$1 -#$%$22$&-)%(2%-(/0&,'%-,&+('059)%/,+,''$'
,1.%0)%,')(%,))(&0,-$.%A0-#%&(1)-0/,-0(1< 91.$+-,@$1<% "#$% )014'$% 5()-% $22$&-08$ -#()$% (2% &(+-0&()-$+(0.)C?M% ,.8$+)$% $23
"#0)% ,))(&0,-0(1% 29+-#$+% G$++(1$(9)'*J -+$,-5$1-% (2% bO% 0)% 9'-+,/(-$1-% -(/0&,' 2$&-)% )9&#% ,)% ,-+(/#*C% -$',140$&-,)0,)C
01&+$,)$)% -#$% )9)/0&0(1% (2% )$;9,' &(+-0&()-$+(0.)%)9&#%,)%&'(7$-,)('<=KCL!>ND ,1.% /045$1-% &#,14$)% .(% 1(-% (&&9+<% X
,79)$<LNCL?%B-%)#(9'.%7$%1(-$.C%#(A$8$+C h(A$8$+C%-#$+$%0)%1(%)*)-$5,-0&%-+0,'%-( +$&$1-%59'-0&$1-$+C%/#,)$%BB%-+0,'%#,)%,)3
-#,-% bO% ,1.% �'.% ,79)$% 5,*% &(3$;0)-LM )9//(+-% -#0)% &(55(1% /+,&-0&$<% ]9$% -( )$))$.%-#$%),2$-*%,1.%$26&,&*%(2%-A0&$3
,1.% -#,-% )(5$% &,)$)% (2% bO% #,8$% 7$$1 &(+-0&()-$+(0.%,.8$+)$%$22$&-)C%-#$%-+$,-3 .,0'*% ,//'0&,-0(1% (2% -,&+('059)% (01-3
'01@$.%A0-#%-+,95,%(2%-#$%,1(4$10-,'%+$3 5$1-% /$+0(.% A0-#% 9'-+,/(-$1-% )-$+(0.) 5$1-% E<=% /$+&$1-% 01% D?% /,-0$1-)% G?!
40(1% G)$$% Q#,/<% =EMJ<% O$$% a(;% IN3L% 2(+ )#(9'.%7$%'050-$.C%4$1$+,''*%-(%'$))%-#,1 A(5$1C%NL%5$1C%,1.%N%40+')J%A0-#%'(143
/0-2,'')%01%-#$%.0,41()0)%(2%bO< ?% A$$@)<% "+$,-5$1-% )#(9'.% 7$% &(1-013 )-,1.014%bO%G5$,1%.9+,-0(1C%M<D%*$,+)JC !TE
A0-#% ,% 2(''(A39/% /$+0(.% (2% =D $8$1-9,''*% )922$+% 2+(5% 89'8(.*10,% 01
n&`'%&(&%&/.&#
5(1-#)<?I% Q'$,+,1&$% (2% ,&-08$% bO% A,) ,.9'-#((.<%B1%&,)$%(2%bO3,))(&0,-$.%.*)3
+$,&#$.% 7*% ?L<!% /$+&$1-% (2% /,-0$1-)C /,+$910,% -#,-% 01-$+2$+$)% A0-#% )$;9,'% ,&3 )<F'J7BB'?FJF?F8=F'B9E:'J6?'>BB'=<>I:F?E'
A0-#% ,-% '$,)-% ME% /$+&$1-% 05/+(8$5$1- -080-*C% -#$% 9)$% (2% -(/0&,'% ,1$)-#$-0&) 9E'>Q>9B>LBF'>:'ZZZD@9HGOD=6GD
01% ,1% ,..0-0(1,'% N?<N% /$+&$1-% (2% /,3 )#(9'.%7$%&(1)0.$+$.<
=< d(A$''% ooC% e(:1,+(A)@,% Hj% b0&#$1% )&'$3
-0$1-)<% h(A$8$+C% -#$% .9+,-0(1% (2% -+$,-3 Q0+&95&0)0(1% A0''% 4$1$+,''*% +$)('8$
+()9)< >$&"1A 484j=KKKC%=!!!
5$1-% -(% ,�$8$% ,1% (/-05,'% +$)/(1)$ 5,'$% 4$10-,'% bO%,1.% -#$% ,))(&0,-$.% /#03 N< d(A$''% ooC% e(:1,+(A)@,% Hj% Q#0'.#((.
A,)%9/%-(%L?%A$$@)< 5()0)C% ,'-#(94#% /(-$1-% -(/0&,'% )-$+(0.) 89'8,+%'0&#$1%)&'$+()9)j%X1%01&+$,)014'*
O*)-$50&% -#$+,/*% A0-#% +$-01(0.)C% 013 5,*% (780,-$% -#$% 1$$.% 2(+% )9+4$+*< &(55(1% /+(7'$5<% M! 3/! 3"$H! G1*/$A.+
66jDENC%LEE=
&'9.014% 0)(-+$-01(01C% $-+$-01,-$C% ,1.% ,&03 X)*5/-(5,-0&% $;-+,4$10-,'% bO% 9)9,''*
D< Y*,5,% `% $-% ,'j% X9-(,1-07(.0$)% -(
-+$-01% ,1.% (+,'% -,&+('059)C% #,8$% 7$$1 +$R90+$)% 1(% -+$,-5$1-% (-#$+% -#,1% &(8$+ $;-+,&$''9',+% 5,-+0;% /+(-$01% =% 01% '0&#$1
9)$29'% 01% )5,''% -+0,')<% O*)-$50&% ,1-0703 5,@$9/%01%)$'$&-$.%&,)$)< )&'$+()9)< >$&"1A 490j==DC%LEEN
(-0&)% ,4,01)-% 7(++$'0()0)% ,1.% /$10&0'3 =M< H,++$''% XU% $-% ,'j% b0&#$1% )&'$+()9)j% \803
.$1&$% -#,-% 05591('(40&,'% &#,14$)
',501$%#,8$%1(-%/+(8$.%$22$&-08$<
2%&0&/)"$/ (&&9+%,-%,''% '$8$')% (2%-#$%)@01<% :*!M!G1*,
]$)-+9&-08$%)9+40&,'%-#$+,/0$)C%)9&#%,) /$A.+ 361j=EDKC%=!!!
&+*(-#$+,/*C% -#$% -0))9$38,/(+0F014% &,+3 `(% -+9'*% /+$8$1-08$% 5$,)9+$)% (2% bO LK< 8(1% f+(4#% PC% ],#'5,13P#(F',1% fC
7(1%.0(;0.$%',)$+)C%,1.% 1(13,7',-08$%',3 #,8$%7$$1%+$/(+-$.<%X1%01-$+.0)&0/'01,+* O*+:,1$1%Oj%d(-$1-0,'%#95,1%/,/0''(5,3
80+9)%+$,&-08,-0(1%2(''(A014%-(/0&,'%&(+3
)$+)% )9&#% ,)% -#$% /9')$.% .*$% ,1.% \+7j 5,1,4$5$1-% 0)% $))$1-0,'% 2(+% -#$% '(143
-0&()-$+(0.% -#$+,/*% (2% 4$10-,'% '0&#$1
TXP%',)$+)C%#,8$%7$$1%+$/(+-$.%-(%A(+@ -$+5% &(1-+('% (2% bO<% O/$&0,'0)-)% 2+(5 )&'$+()9)% ,1.% $+()08$% '0&#$1% /',19)<% M
01%bO%79-%)#(9'.%(1'*%7$%9)$.%A0-#%&,93 4*1$&('(4*C% 9+('(4*C% /$.0,-+0&)C% ,1. FD*!3"$H!G1*/$A.+!S1&1*1.+ 39j=NEC%LEEL
-0(1<% W9'8$&-(5*% )#(9'.% 7$% '050-$.% -( /)*&#()(5,-0&% 5$.0&01$% )#(9'.% 7$% 013 N?< ],#'5,13P#(F',1%fC%h$.7',.%UXC%8(1
f+(4#%Pj%d$10'$%'0&#$1%)&'$+()9)%$-%,-+(3
&,)$)%01%A#0&#%)R9,5(9)%&$''%&,+&01(5, 8('8$.%01%/,-0$1-%&,+$%,1.%&('',7(+,-$%-(
/#0&9)%-+$,-$.%A0-#%&'(7$-,)('%.0/+(/0(3
#,)%7$$1%.$-$&-$.< /+$8$1-% )04106&,1-% &(5/'0&,-0(1)C% 013 1,-$%E<EM%/$+&$1-%&+$,5j%X%+$-+()/$&-08$
H$5,'$%bO%/,-0$1-)%)#(9'.%7$%/,+-0&93 &'9.014% -#$% 5(10-(+014% 2(+% )R9,5(9) &'010&,'%,1.%#0)-(/,-#('(40&,'%)-9.*<%M!3/
',+'*%5(10-(+$.% 2(+%,1*% )041% (2%)$&(1.3 &$''% &,1&$+% ,1.% &(+-0&()-$+(0.% ,.8$+)$ 3"$H!G1*/$A.+ 61j?M=C%=!!!
?I< h$144$%gV%$-%,'j%U9'-0&$1-$+C%/#,)$3BB%-+0,'
,+*% 4$10-,'% 5,'041,1&*<% d+$/97$+-,'% bO $8$1-)<%B-%#,)%,')(%7$$1%#$'/29'%-(%&0+&93
(1%-#$%),2$-*%,1.%$26&,&*%(2%-(/0&,'%-,&+('03
01% 40+')% 5,*% +$)('8$% )/(1-,1$(9)'*c ',-$% 012(+5,-0(1% 80,% /,-0$1-% (+4,10F,3 59)%(01-5$1-%2(+%-#$%-+$,-5$1-%(2%'0&#$1
#(A$8$+C% )(5$% (2% -#$)$% /,-0$1-)% 5,* -0(1)%2(+%bO< )&'$+()9)< :*!M!G1*/$A.+ 388j=EL=C%LEEI
.*,2)&%'3S .$4+$$)%(2%&$''9',+0-*C%,1.%(2-$1%$;#070-3
014% 5*(67+(7',)-0&% (+% 67+(7',)-0&% .023 !&%+,-
2$+$1-0,-0(1<% X'-#(94#% (1% (&&,)0(1% -#$
!&%+,-'*`2&%)%$2*"&#',/!' .*"-!*$$!'("W%$+,)$#&#
W&/"A/'!&%+,-')1+$%#
#6B9:>?N'-FE968E )<F?F'>?F'=<9B@<66@'>8@'>@7B:'Q>?9>8:E'6J'
]$+5,'%-95(+)%,1.%/+('02$+,-0(1)%+$/+$3
)$1-%,1%(2-$1%$1&(91-$+$.%,1.%&'010&,''* 2=J@P8HNPK=K, $PSS=, XKN-@MP8HKNP=; @F?G>B'<NIF?:?6I<9FEU'Z<9=<'=>8'LF'98@6;
7$A0'.$+014% 4+(9/% (2% .0)(+.$+)<% "#0) N?8P@,P2,=M2HM$LY H07+(5,-()0)% &(''0 BF8:'6?'>HH?FEE9QF'98':<F9?'LF<>Q96?D
&#,/-$+% +$80$A)% )$8$+,'% (2% -#$% 7$1041 G)-$+1(5,)-(0.% -95(+% (2% 012,1&*J% 0)% , !FEG69@':7G6?E'>?F'B6=>BBN'>HH?FEE9QF'
.$+5,'% -95(+)<% O(5$% (2% -#$)$% /+$)$1- )$'23'050-014% .0)(+.$+% -#,-% 0)% &#,+,&-$+3 >8@'98KB:?>:9QFU'@FFI;EF>:F@':7G6?E'=<>?;
&'010&,''*% 01% ,% 2,)#0(1% -#,-% &,1% (22$+ 0F$.% 7*% ,% 7$1041% /+('02$+,-0(1% (2% 67+(3 >=:F?9\F@'LN'<9H<'?F=7??F8=F'?>:FE'>J:F?'
&'9$)% .0,41()-0&,''*<% h0)-(/,-#('(4*% 0) 7',)-)%01%-#$%'(A$+%(1$3-#0+.%(2%-#$%)-$+3 E7?H9=>B'FM=9E968D
@$*%-(%-#$%9'-05,-$%.0,41()0)%,1.%/+(/$+ 1(&'$0.(5,)-(0.% 59)&'$<% H07+(5,-()0)
5,1,4$5$1-% (2% )$8$+,'% (2% -#$)$% &(1.03 &(''0% 9)9,''*% ,//$,+)% 01% -#$% 6+)-% 2$A *NIF?:?6I<9='E=>?E'>8@'YFB69@E'?FG>98'
-0(1)<% U,'041,1-% 67+(9)% -95(+)% (2% -#$ A$$@)%(2%'02$%,1.%&,1%4+(A%+,/0.'*<%"#0) QF?N'=6GG68'@F?G>B'<NIF?:?6I<9FEU'
.$+50)%,+$%.0)&9))$.%01%Q#,/<%=LM< &(1.0-0(1% 5,*% &'010&,''*% ,1.% +,.0(3 Z<9=<'>?F'6J:F8'@9JK=7B:'98':<F9?'G>8>HF;
4+,/#0&,''*%5050&%(-#$+%-95(+)C%)9&#%,) GF8:D
+#,7.(5*(),+&(5,% (+% 1$9+(7',)-(5,C $:<F?'@F?G>B'<NIF?:?6I<9FE'98=B7@F'E6B9;
("W%$+,)$#&# .9$%-(%0-)%+,/0.%4+(A-#%,1.%5,+@$.%$;3 :>?N'BFE968EU'E7=<'>E'@F?G>:6KL?6G>E'
H07+(5,-()$)% ,+$% /+('02$+,-0(1)% &(53 /,1)0(1% (2% -#$% )-$+1(&'$0.(5,)-(0.<=% B- >8@'>=?6=<6?@68EU'<>G>?:6G>EU'>8@'
/()$.%(2%67+(9)%-0))9$C%67+(7',)-0&%&$'')C 0)% -#$% 5()-% &(55(1% &,9)$% (2% 1$(1,-,' =688F=:9QF':9EE7F'8FQ9D
!!F (+% )/01.'$.% )-+(5,'% &$'')% A0-#% 8,+*014 -(+-0&(''0)CL%,'-#(94#%(-#$+%&,9)$)%(2%-(+3
2=>?@-,ATB" HI'qFBB;@FK8F@'I98Y'86@7BF'6J'98J>8:9BF'@9H9:>B'K;
L?6G>:6E9ED'1E7>BBN':<F':<9?@':6'KJ:<'@9H9:E'>?F'>JJF=:F@a'<F?FU':<F':7;
G6?'9E'J678@'68':<F'EF=68@'@9H9:'6J'>8'98J>8:D'JI'"8J>8:9BF'@9H9:>B'K;
L?6G>:6E9E' I6EEFEEFE' I66?BN' =9?=7GE=?9LF@' 98:F?B>=98H' L78@BFE' 6J
GN6KL?6LB>E:E'FGLF@@F@'98'>'G6@FE:'L>=YH?678@'6J'=6BB>HF8'R<F;
G>:6MNB98'>8@'F6E98'4PP!'G>H89K=>:968',VD'$I')<F'@FK898H'=<>?>=;
:F?9E:9='9E'@F8EFBN'F6E986I<9B9=U'=N:6IB>EG9='98=B7E968'L6@9FE'98'KL?6;
LB>E:E' :<>:' >BE6' E:>98' ?F@' Z9:<' +>EE68' :?9=<?6GF' R4PP!
H G>H89K=>:968VD
J $
2>=<N@F?G6@>=:NBN
d,&#*.$+5(.,&-*'*%0)%,%+,+$%2(+5%(2%7$3
1041% .040-,'% 67+(5,-()0)% &(1)0)-014% (2 2=>?@-,ATBG nFB69@D' (9?GU' 868;:F8@F?' F?N;
,)*5/-(5,-0&C% &0+&95)&+07$.% )A$''014 :<FG>:67E'86@7BF'68':<F'F>?':<>:'@FQFB6IF@'>J:F?
(2%-#$% 614$+)<% Q9++$1-'*C% -#$+$% ,+$% (1'* F>?;I9F?=98HD
IL%+$/(+-$.%&,)$)%01%-#$%'0-$+,-9+$<%Q'0103
&,''*C% 0-% ,//$,+)% ,)% ,% /,01'$))% $1',+4$3 @$'(0.)% )#(A% ,% /+$.0'$&-0(1% 2(+% ,+$,)
5$1-% (2% -#$% -0))9$)% )9++(91.014% -#$ A0-#% 01&+$,)$.% -$1)0(1C% )9&#% ,)% -#$
/+(;05,'% 01-$+/#,',14$,'% :(01-)% (2% -#$ 2=>?@-,ATBD !FEG69@':7G6?E'98Q6BQ98H'7IIF? )#(9'.$+)C% )-$+195C% 5,1.07'$C% ,1.
)$&(1.% -(% 62-#% 614$+)<% B-% /+05,+0'*% ,23 =<FE:'>8@'FI9H>E:?9='?FH968D')<FEF'?FI?FEF8:'?F=7?; ,+5)<%"#$*%,+$%5(+$%&(55(1%01%X)0,1)
2$&-)% ,.('$)&$1-% 5,'$)C% A0-#% ,% 5,'$3 ?F8=FE' >J:F?' G7B:9IBF' E7?H9=>B' 98:F?QF8:968ED' )<9E ,1.% .,+@3)@011$.% +,&$)<?M% h*/$+-+(/#0&
2$5,'$%+,-0(%(2%Mj=< I>:9F8:'>BE6'<>@'98:?>;>L@6G98>B'@FEG69@':7G6?ED )&,+)%&,1%(&&9+%,-%,1*%,4$C%A#$+$,)%@$3
'(0.)% &(55(1'*% (&&9+% 01% -#$% -#0+.% .$3
!FEG69@')7G6? 1$9+()0)<%"#$+$%0)%,%/,9&0-*%(2%&$''9',+0-* &,.$<% f$'(0.,'% 4+(A-#% &,1% 7$% -+044$+$.
A0-#% &('',4$1(9)% )-+(5,% /+$.(501,-3 7*%/+$41,1&*<
]$)5(0.%-95(+)C%,')(%@1(A1%,)%H11B%(+ 014< % e#$1% &(5/,+$.% A0-#% &',))0& f$'(0.)% ,//$,+% ,)% A$''3&0+&95)&+07$.
$00*1''%L1! ()*./$A.'1'C% ,+$% '(A34+,.$ 67+(),+&(5,)C% .$)5(0.% -95(+)% ,+$ /01@% -(% /9+/'$% 6+5% 1(.9'$)% G)$$% H04<
&'(1,'%5$)$1&#*5,'%1$(/',)5)%-#,-%2,'' 5(+$%5(1(5(+/#(9)%,1.%'$))%&$''9',+< I?3NJ%(+% /',R9$)%A0-#%,%)5((-#C%79-%0+3
A0-#01% -#$%)/$&-+95%(2%,%8,+0$-*% (2% 7$3 ]9$% -(% -#$% ,44+$))08$% ,1.% 016'-+,-08$ +$49',+% 7(+.$+% GH04<% I?3?J<% Q(5/,+$.
1041% 59)&9'(,/(1$9+(-0&% 67+(5,-()$)< 7$#,80(+%(2%-#$)$%-95(+)C%-+$,-5$1-%&,1 A0-#% #*/$+-+(/#0&% )&,+)C% -#$)$% 1(.9'$)
"#$)$% /((+'*% &0+&95)&+07$.% -95(+)% ,+$ 7$% 8$+*% .026&9'-<% X'-#(94#% )9+4$+*% 0) ,+$%(2-$1%/,0129'%,1.%#*/$+$)-#$-0&<%g'3
.$$/3)$,-$.C% &#,+,&-$+0F$.% 7*% ,1% 016'3 A0.$'*% ,&&$/-$.% ,)% -#$% 6+)-3'01$% -+$,-3 &$+,-0(1%&,1%(&&9+%.9$%-(%-#$%-#01%(8$+3
-+,-08$%4+(A-#%/,--$+1%,1.%'(&,''*%+$&9+C 5$1-% 2(+% $;-+,3,7.(501,'% ,1.% ,7.(503 '*014%$/0.$+50)C%,1.%#*/$+/045$1-,-0(1
79-% ',&@% -#$% ,70'0-*% -(% 5$-,)-,)0F$< 1,'%A,''%-95(+)C%&(5/'$-$%)9+40&,'%$;&03 0)%&(55(1<
"#$)$% -95(+)% #,8$% ,% 59-,-0(1% 01% -#$ )0(1% 0)% .026&9'-% -(% ,�$8$C% ,1. X'-#(94#% #0)-(+0&,''*% #*/$+-+(/#0&
,.$1(5,-(9)%/('*/()0)%&('0%GXdQJ%4$1$ +$&9++$1&$)% (&&9+% 01% LM% /$+&$1-% -(% IM )&,+)% ,1.% @$'(0.)% #,8$% 7$$1% -#(94#-% (2
GMRL=J% ,1.% ,+$% ,))(&0,-$.% A0-#% 2,50'0,' /$+&$1-%(2%&,)$)<N! ,)% .022$+$1-% )-,4$)% (2% -#$% ),5$% A(91.
,.$1(5,-(9)%/('*/()0)%GHXdJ%)*1.+(5$ +$/,0+% /+(&$))C% 1$A% $80.$1&$% )944$)-)
,1.%P,+.1$+%)*1.+(5$<ICK%"#$+$%5,*%7$ -#,-%-#$*%5,*%7$%-A(%)$/,+,-$%$1-0-0$)<
,1% $)-+(4$10&% 01^9$1&$% A0-#% -#$)$% -93 %&,.)"0&',/!'!&A&/&%,)"0&' "#0)%1$A%/$+)/$&-08$%0)%7,)$.%(1%.022$+3
5(+)% -#,-% 0)% 1(-$.% .9+014% /+$41,1&*<NK ("W%$1#'-&#"$/# $1&$)% (7)$+8$.% 01% 7$#,80(+% (2% -#$% '$3
B1:9+*%/+$&$.$)%)(5$%&,)$)<ND *NIF?:?6I<9='#=>?E'>8@'nFB69@E )0(1C% 5(+/#('(4*C% &$''% 70('(4*C% ,1.% 053
]$)5(0.% -95(+)% ,+$% 9)9,''*% &,-$4(3 591(#0)-(&#$50&,''*<?I% B1% $,+'*% )&,+)C
+0F$.%,)%$;-+,3,7.(501,'%(+%01-+,3,7.(53 h*/$+-+(/#0&% )&,+)% ,1.% @$'(0.)% +$)9'-
01,' -95(+)<% "#$% $;-+,3,7.(501,'% -93 2+(5%-#$%91&(1-+(''$.%)*1-#$)0)%,1.%$;3
5(+)%,+$%(2-$1%'(&,-$.%01%-#$%,+$,%(2%-#$ &$))08$%.$/()0-0(1%(2%&('',4$1%,-%)0-$)%(2
)#(9'.$+% ,1.% /$'80&% 40+.'$% (+% &#$)-% ,1. /+0(+% .$+5,'% 01:9+*% ,1.% A(91.% +$/,0+<
1$&@% A,''% GH04<% I?3LJ<% "#$)$% -95(+)% ,+$ "#$*%(2-$1%(&&9+%,2-$+%'(&,'%)@01%-+,95,
5()-% (2-$1% )/(+,.0&<?=% B1-+,3,7.(501,' G)9&#% ,)% ',&$+,-0(1C% -,--((C% 79+1C% 01:$&3
.$)5(0.)% #,8$% 7$$1% ,))(&0,-$.% 01% =E -0(1C% $,+% /0$+&014C% 8,&&01,-0(1C% (+% )9+3
/$+&$1-% -(% =M% /$+&$1-% (2% /,-0$1-)% A0-# 4$+*J% (+% 01^,55,-(+*% )@01% .0)(+.$+)
HXd% ,1.% P,+.1$+% )*1.+(5$C% A0-#% -#$ G)9&#%,)%,&1$C%70-$)C%(+%,7)&$))$)J<%X%@$3
',--$+% 9)9,''*% /+$)$1-014% ,)% +$-+(/$+0-(3 '(0.% $;-$1.)% 7$*(1.% -#$% 7(+.$+)% (2% -#$
1$,'%-95(+)<NKCN! (+0401,'% A(91.C% .($)% 1(-% +$4+$))% )/(13
]$8(0.% (2% 5$-,)-,-0&% /(-$1-0,'C% -#$* -,1$(9)'*C% 4+(A)% 01% ,% /)$9.(-95(+
-$1.%-(%2(+5%',+4$C%016'-+,-08$%5,))$)%-#,- 2,)#0(1% A0-#% .0)-(+-0(1% (2% -#$% '$)0(1C
+$&9+%+$/$,-$.'*<?E%V,+$'*C%.$)5(0.%-95(+) ,1.% -$1.)% -(% +$&9+% ,2-$+% $;&0)0(1% GH04<
-+,1)2(+5%01-(%&',))0&%67+(),+&(5,)<?= I?3NJ<% h*/$+-+(/#0&% )&,+)C% 01% &(1-+,)-C
h0)-('(40&,''*C% -#$)$% ,+$% /((+'*% &0+3 +$5,01% &(161$.% -(% -#$% 7(+.$+)% (2% -#$
&95)&+07$.% /+('02$+,-0(1)% (2% 5,-9+$% 63 (+0401,'%A(91.%,1.%5()-%(2%-#$%-05$%+$3 2=>?@-,ATBT )Z6' YFB69@E' 98' :<F' I?FE:F?8>B
7+(9)%-0))9$%,+0)014%2+(5%,%59)&9'(,/(3 -,01%-#$0+%)#,/$<%h*/$+-+(/#0&%)&,+)%,1. ?FH968U'>':NI9=>B'B6=>:968D
!!G
-#$+$% 0)% 01&+$,)$.% &$''9',+0-*% ,1.% ,1 h0)-('(40&,''*C%1(.9',+%2,)&00-0)%/+$)$1-) /+$)$1-% ,'(14% A0-#% &,'&06$.% ,149',+
$.$5,-(9)C% 5*;(0.% )-+(5,% -#,-% 0)% +$3 ,)%,%/((+'*%.$5,+&,-$.%1(.9'$%01%-#$%)973 $',)-(-0&% 5,))$)% -$+5$.% )$'.B#%+%"! 1+$',
/',&$.% 7*% 5,-9+$% &('',4$1% (8$+% -05$< &9-0)C%2,)&0,C%(+%.$+50)%-#,-%0)%&(5/()$.%(2 A.A%"! /$''1'<% O(',+% $',)-()0)% 01% -#$% ,73
a'((.% 8$))$')% ,+$% ,')(% /+(501$1-% 01 )/01.'$.% 67+(7',)-)% ,1.% 5*(67+(7',)-) )$1&$% (2% -#0)% &(1.0-0(1% ',&@)% 7,)(/#0'0&
$,+'*% )&,+% 2(+5,-0(1<% e0-#% @$'(0.)C% -#$ ,1.%4,14'0(1%&$''3'0@$%67+(7',)-)%01%,%'(()$C $',)-(-0&%5,))$)<K=
&('',4$1% 0)% ,++,14$.% #,/#,F,+.'*C% A0-# 5*;(0.C% #04#'*% 8,)&9',+% )-+(5,% -#,-% +$3
-#$% /+$)$1&$% (2% ',+4$C% $()01(/#0'0&C% @$3 )$57'$)% 4+,19',-0(1% -0))9$<% "#$)$% '$)0(1)
'(0.,'%&('',4$1%791.'$)<%"#$%$,+'*%#0)-(3 (2-$1%#,8$%,))(&0,-$.%#$5(++#,4$%,1.%013 2>=<N@F?G6IF?96E:6E9E'R2?9G>?N'
'(40&% /0&-9+$% (2% #*/$+-+(/#0&% )&,+)% +$3 6'-+,-0(1% (2% /',)5,% &$'')C% 5,)-% &$'')C% ,1. *NIF?:?6I<9='$E:F6>?:<?6I>:<NV
)$57'$)% -#,-% (2% @$'(0.)C% 79-% -#$ '*5/#(&*-$)<% U0-(-0&% 649+$)% ,+$% /+$)$1-C
d,&#*.$+5(/$+0()-()0)% G/+05,+*% #*/$+3
-#0&@$1$.% &('',4$1%791.'$)%^,--$1% A0-# 79-%,-*/0,%,1.%19&'$,+%/('*5(+/#0)5%,+$
-+(/#0&% ()-$(,+-#+(/,-#*J% 0)% ,% +,+$% )*13
-05$% ,1.% 7$&(5$% (+0$1-$.% /,+,''$'% -( 1(-% )$$1<% B5591(#0)-(&#$50&,''*C% -#0)
.+(5$% &#,+,&-$+0F$.% 7*% /+(4+$))08$
-#$%'(14%,;0)%(2%-#$%)&,+< /+(&$))%)-,01)%/()0-08$%A0-#%)5((-#%59)3
$1',+4$5$1-% (2% -#$% :(01-)% .9$% -(% /,&#*3
h*/$+-+(/#0&%)&,+)%,1.%@$'(0.)%+$5,01 &'$% ,1.% 59)&'$3)/$&06&% ,&-01)C% 805$1-01C
.$+50,C%/$+0()-()0)C%,1.%&'977014C%+$',-$.
$;-+$5$'*% &#,''$14014C% /,+-0&9',+'*% 01 ,1.%Q]ID<%O-,01014%)#(A)%1(%&*-(@$+,-01C
-(%,'-$+$.%/+(-$(4'*&,1%)*1-#$)0)<KL%Y-#$+
-#$0+%8,+0,7'$%+$)/(1)$%-(%-+$,-5$1-<%h*3 O=EE%/+(-$01C%(+%.$)501<II
2$,-9+$)% 01&'9.$% &(,+)$% 2,&0,'% 2$,-9+$)C
/$+-+(/#0&%)&,+)%-$1.%-(%7$%5(+$%+$)/(13 ]$)/0-$% -#$% /())070'0-*% (2% )/(1-,1$3
/,'5(/',1-,+% #*/$+#0.+()0)C% /$+0()-()0)
)08$% -#,1% @$'(0.)% ,1.% 4$1$+,''*% ^,--$1 (9)%018('9-0(1C%$;&0)0(1%0)%-#$%-+$,-5$1-
G67+(9)% &(8$+014% ,-% -#$% $1.)% (2% '(14
A0-#% -05$<% B1:$&-0(1% (2% #*/$+-+(/#0& (2% &#(0&$C% A0-#% +$&9++$1&$)% 7$014% +,+$<
7(1$)JC% ,1.% ,&+(3()-$('*)0)<% B-% 0)% ,% )$'23
)&,+)% ,1.%@$'(0.)%A0-#% 01-+,'$)0(1,'% )-$+3 ]9$% -(% -#$% 2,&-% -#,-% -#0)% '$)0(1% 5050&)
'050-014% .0)$,)$C% 79-% -#$% ,+-#+,'40,)% &,1
(0.)% +$5,01)% ,% 5,01)-,*% (2%-#$+,/*C% 79- ),+&(5,% &'010&,''*C% 70(/)*% ,1.% $;&0)0(1
7$%R90-$%.$70'0-,-014<%U()-%+$&$1-'*C%-#$+$
59'-0/'$%01:$&-0(1)%,1.%#04#$+%&(1&$1-+,3 ,+$%1$&$)),+*%-(%$'0501,-$%),+&(5,%2+(5
,+$%+$/(+-)%(2%+$)('9-0(1%(2%-#$%,+-#+,'40,)
-0(1)% (2% -+0,5&01('(1$% G=E% -(% ?E% 54k&&J &'010&,'%,1.%+,.0('(40&%&(1)0.$+,-0(1<
A#$1%-+$,-$.%A0-#%-,5(;02$1<KN
,+$% (2-$1% +$R90+$.<% Y2-$1C% &+*(-#$+,/*
A0''%7$%9)$.%6+)-%-(%,0.%01%-#$%$,)$%(2%-#$
01:$&-0(1<% "#0)% &(5701,-0(1% #,)% /+(8$. &B>E:6KL?6G>'!6?E9 ,=?6YF?>:6FB>E:69@6E9E'6J'.6E:>
7$1$6&0,'% 01% )&,+% +$.9&-0(1% (8$+% -05$<MK \',)-(67+(5,%.(+)0%0)%,%+,+$'*%.0,41()$.C
B1-+,'$)0(1,'% )-$+(0.)C% A#$1% 01:$&-$.% -(( 7$1041C% 67+(/+('02$+,-08$C% )(2-3-0))9$% -93
.$$/'*% (+% ,44+$))08$'*C% &,1% &,9)$% ,-+(3
,=?6=<6?@68'R(9L?6FI9:<FB9>B'26BNIU'
5(+% -#,-% (&&9+)% 5()-% &(55(1'*% 01% -#$
/#*<% Y-#$+% 01:$&-,7'$% -+$,-5$1-)% -#,- /$+0)&,/9',+%+$40(1%(2%50..'$3,4$.%-(%$'3
#Y98')>HU'#6J:'(9L?6G>V
#,8$% 7$$1% /+(8$.% -(% #,8$% 8,+*014% )9&3 .$+'*%A(5$1<%B-%#,)%,%5,'$32$5,'$%+,-0( X&+(&#(+.(1)% ,+$% /$.91&9',-$.% /,/9'$)
&$))% 01&'9.$% 7'$(5*&01C% M3^9(+(9+,&0'C (2%=jM<%X//+(;05,-$'*%=E%/$+&$1-%,+$%703 (+% 1(.9'$)% -#,-% ,+$% 5()-% &(55(1'*% '(3
-,&+('059)C%,1.%01-$+2$+(1<?MC?DCMD ',-$+,'<%a$)0.$)%-#$%)&,/9',+%+$40(1C%(-#$+ &,-$.% (1% -#$% $*$'0.)C% 1$&@C% ,1.% ,;0'',$
O9+40&,'%$;&0)0(1% (2%',+4$+% @$'(0.)%A0'' &(55(1% '(&,-0(1)% 01&'9.$% -#$% #$,.C% ,) GH04<% I?3MJ<% b,+4$+% '$)0(1)% 01% -#$% 4+(01% (+
(2-$1% +$)9'-% 01% +$&9++$1-% ,1.% )(5$-05$) A$''%,)%-#$%,7.(501,'%,1.%-#(+,&0&%&,803 9//$+%-#04#)%5,*%7$%,))(&0,-$.%A0-#%.0,3
$8$1% ',+4$+% @$'(0.)<% O@01% 4+,2-014C% /+$)3 -0$)<% X'-#(94#% -#$% $;,&-% $-0('(4*% 0)% 913 7$-$)% 5$''0-9)<% "#$+$% 0)% ,% 2,50'0,'% .0)3
)9+$% 4,+5$1-)% -(% 7(-#% -#$% )9+40&,'% )0-$ @1(A1C%0-%0)%)9)/$&-$.%-#,-%&#+(10&%)973 /()0-0(1C% ,1.% ,&+(&#(+.(1)% ,+$% 5(+$
,1.%-#$%4+,2-$.%)0-$C%,1.%)-$+(0.%(+%01-$+3 &'010&,'%50&+(-+,95,%5,*%'$,.%-(%+$,&-08$ &(55(1'*% )$$1% 01% (7$)$% 01.080.9,')<
2$+(13 % 01:$&-0(1)% -(% -#$% $;&0)0(1% )0-$ #*/$+/',)0,%(2%$',)-0&%67$+)C%A0-#%&(1)$3 X&+(&#(+.(1)%,+$%,')(%,%&'010&,'%2$,-9+$%(2
#,8$%7$$1%)#(A1%-(%+$.9&$%/+(3 =%-*/$%B R9$1-'*% 01&+$,)$.% /+(.9&-0(1% (2% 67+(9) a0+-3h(443]97p%)*1.+(5$C%,'(14%A0-#%63
&('',4$1%4$1$%$;/+$))0(1C%#$1&$%+$.9&014 -0))9$<%Q'010&,''*C%-#0)%-95(+%/+$)$1-)%,)%, 7+(2(''0&9'(5,)%,1.%-+0&#(.0)&(5,)<KI%X'3
@$'(0.%2(+5,-0(1<M!%Y-#$+%-#$+,/0$)C%)9&# /((+'*%&0+&95)&+07$.C%6+5C%5(70'$%5,))< -#(94#% 9)9,''*% ,)*5/-(5,-0&C% /,-0$1-)
,)% -(/0&,'% +$-01(0.)C% ',)$+% -#$+,/*C% )$'23 U(+$% -#,1% ME% /$+&$1-% (2% /,-0$1-)% ,+$ ,+$%(2-$1%&()5$-0&,''*%7(-#$+$.%7*%-#$)$
,.#$+$1-%)(2-%)0'0&(1$%.+$))014)C%,1.%+,.03 ,)*5/-(5,-0&% ,1.% /+$)$1-% A0-#% ,% /,013 '$)0(1)<% H9+-#$+5(+$C% A#$1% -#$% )-,'@% (2
,-0(1C% #,8$% .$5(1)-+,-$.% 8,+*014% )9&3 '$))% )A$''014<% U,41$-0&% +$)(1,1&$% 05,43 -#$)$% /$.91&9',-$.% /,/9'$)% 4$-% )-+,1493
&$))% +,-$)<IE>IN% B1-+,'$)0(1,'% &('',4$1,)$ 014%0)%-#$%7$)-%1(13018,)08$%-$
R9$%-(
#,)%+$&$1-'*%7$$1%/+(8$.%01$22$&-08$<I? 80)9,'0F$%-#$%-95(+<I!
/6@7B>?'(>E=99:9E !FHF8F?>:9QF'.6BB>HF867E'2B>^7FE'
`(.9',+%2,)&00-0)%0)%,%7$1041C%)$'23'050-014 6J':<F'*>8@E'RnF?>:6FB>E:69@6E9E'
/+('02$+,-0(1% (2% 67+(7',)-)% (2% 91&$+-,01 +>?H98>B9EU'!9H9:>B'2>I7B>?'
$-0('(4*% -#,-% (2-$1% 2(''(A)% -+,95,<% X'3
-#(94#% 0-% 0)% )$$1% 5()-% &(55(1'*% 01
.>B=9K='&B>E:6E9EV
*(914% ,.9'-)C% 0-% &,1% (&&9+% ,-% ,1*% ,4$C ]$4$1$+,-08$%&('',4$1(9)%/',R9$)%(2%-#$
A0-#(9-%+,&0,'%(+%)$;%/+$.0'$&-0(1<%B-%/+$3 #,1.)% /+$)$1-% A0-#% @$+,-(-0&C% -+,1)'93
)$1-)%,)%,%+,/0.'*%4+(A014C%/,0129'%5,)) &$1-%/,/9'$)%01%,%'01$,+%,++,*%(1%-#$%5$3
01%-#$%)97&9-0)C%2,)&0,C%(+%59)&'$<%B-%0)%(73 .0,'%,1.%',-$+,'%,)/$&-)%(2%-#$%614$+)%,1.
)$+8$.%5()-%2+$R9$1-'*%(1%-#$%9//$+%$;3 -#957)<% g'-+,80('$-% '04#-% ,1.% &#+(10&
-+$50-*% G?D% /$+&$1-JC% 2(''(A$.% 7*% -#$ /+$))9+$% (+% 5$&#,10&,'%-+,95,%)$$5% -(
-+91@C%#$,.%,1.%1$&@C%,1.%'(A$+%$;-+$53 7$% -#$% 01&0-014% 2,&-(+)<K=% h0)-('(40&,''*C
0-*C% 01% .$)&$1.014% (+.$+<IM% Q+,10,'% 2,)&003 -#$%$/0.$+50)%0)%#*/$+@$+,-(-0&C%,1.%-#$ 2=>?@-,ATB! #6J:' KL?6G>E' 6?' EY98' :>HE' 68
-0)% 0)% -#$% 5()-% &(55(1% 8,+0,1-% 01% �'3 +$-0&9',+%.$+50)%#,)%,%7,1.3'0@$%.$/()03 :<F'8F=Y'6J'>'JFG>BF'I>:9F8:'Z<6'>BE6'<>@'RF8@6;
.+$1%,1.%018('8$)%-#$%#$,.%,1.%1$&@< -0(1%(2%.$1)$%&('',4$1<%O(',+%$',)-()0)%0) =?98FV'>=>8:<6E9E'89H?9=>8ED
!!T
',-$.%(+%-A0)-$.C%-#$%'$)0(1)%&,1%91.$+4(
012,+&-0(1%,1.%7$&(5$%0++0-,-$.<
H07+(9)%/,/9'$%(2%-#$%1()$%0)%,%&(53
5(1C%)('0-,+*%/,/9'$%(1%-#$%'(A$+%/(+3
-0(1%(2%-#$%1()$<%B-%0)%)5,''%GL%-(%M%55JC
1(13-$1.$+C% ^$)#% &('(+$.% G)(5$-05$)
/01@%(+%)'04#-'*%#*/$+/045$1-$.JC%6+5C
,1.%.(5$%)#,/$.<%B-%59)-%7$%.022$+$1-03
,-$.% 2+(5% ,1% $,+'*C% 1(.9',+C% 7,),'% &$''
&,+&01(5,% ,1.% 0)% (2-$1% 70(/)0$.% 2(+
-#,-% +$,)(1<% g1'0@$% ,% 7,),'% &$''% &,+&03
1(5,C% 0-% +,+$'*% 7'$$.)% ,1.% )-,*)% +$',3
-08$'*% )-,7'$% 01% 0-)% )5,''$+% )0F$<% h0)-(3
'(40&,''*C%-#$%.$+50)% )#(A)% ,%'(&,'0F$.
2=>?@-,ATBA .7:>8F67E'=6BB>HF86G>U'>'=688F=:9QF':9EE7F'8FQ7E'98Q6BQ98H'>BG6E:':<F'F8:9?F'L>=YD
,+$,% (2% 67+()0)% ,1.% 8,)&9',+% /+('02$+,3
-0(1<% "#$+$% ,+$% ',+4$C% -+0,149',+C% ,1.
)-$'',-$%&$'')<%`(%-+$,-5$1-%0)%1$&$)),+*C H,50'0,'% &9-,1$(9)% &('',4$1(5,C% 6+)- ,1%01&+$,)$.%+0)@%(2%+$1,'%&,+&01(5,%,1.
79-%,%)05/'$%)#,8$%(+%/91&#%$;&0)0(1%0) .$)&+07$.%7*%h$1.$+)(1%$-%,'<%01%=!IDCD? /1$95(-#(+,&$)%G)$$%Q#,/<%==!J<!K
9)9,''*%&9+,-08$< 0)% ,1% ,9-()(5,'C% .(501,1-'*% 01#$+0-$.
&(1.0-0(1% (2% 59'-0/'$% &(11$&-08$% -0))9$
1$80% 9)9,''*% ,//$,+014% /()-/97$+-*<DM #=BF?6:9='(9L?6G>'R.9?=7GE=?9LF@'
*,+,%)$+,# "#$+$%5,*%7$%,))(&0,-$.%&,+.0,&%,71(+3 #:6?9J6?G'.6BB>HF86G>U'
(9L?67E'*>G>?:6G>'6J'"8J>8=N 5,'0-0$)% )9&#% ,)% /+(4+$))08$% &,+.0(5*3 2BNZ66@'(9L?6G>V
(/,-#*%,1.%&(1.9&-0(1%.$2$&-)<DI%H,50'3
H07+(9)% #,5,+-(5,% (2% 012,1&*% 0)% ,% +,+$ 0,'%&('',4$1(5,)%#,8$%,%/+$.0'$&-0(1%2(+
7$1041%-95(+%-#,-%/+$)$1-)%,)%,%)('0-,+*C -#$%-+91@%,1.%9//$+%$;-+$50-0$)<%Q$+-,01 A9>8:'.FBB'.6BB>HF86G>
/,01'$))C%+,/0.'*%4+(A014C%^$)#3&('(+$.C &('',4$1(5,)% 5,*% 7$% ,))(&0,-$.% A0-#
0''3.$61$.C% )97&9-,1$(9)% 1(.9'$% (+ P,+.1$+% )*1.+(5$% (+% HXd% )*1.+(5$ 2BF6G6?I<9='(9L?6G>
/',R9$<% U9'-0/'$% '$)0(1)% ,+$% +,+$'*% +$3 GXdQ% 4$1$C% MRL=JC% ,1.% &'010&,'C% +,.0(3
/(+-$.<K!%X//+(;05,-$'*%(1$32(9+-#%,+$ d'$(5(+/#0&% 67+(5,% 0)% ,% +,+$% 67+(9)
'(40&C%,1.%4$1$-0&%$8,'9,-0(1)%)#(9'.%7$
&(14$10-,'C% ,1.% !=% /$+&$1-% /+$)$1-% .9+3 &(1.9&-$.%,)%,//+(/+0,-$<ICK -95(+% &#,+,&-$+0F$.% 7*% 19&'$,+% ,-*/0,C
014%-#$%6+)-%*$,+%(2%'02$<%X1%,//+(;05,-$ *$-% A0-#% ,% 7$1041% &'010&,'% 7$#,80(+<
Lj=% 5,'$32$5,'$% +,-0(% $;0)-)<% "#$% 5()- "#0)%'$)0(1%/+$)$1-)%,)%,%)'(A34+(A014C
&(55(1% '(&,-0(1)% ,+$% -#$% ,;0'',+*% +$3 #G66:<'+7E=BF'*>G>?:6G> GO$$ .(5$3)#,/$.C% (+% /('*/(0.% '$)0(1% -#,-
40(1C% 9//$+% ,+5C% 9//$+% -+91@C% 014901,' Q#,/<%=LKJ 5,*%+$)$57'$%67+(@$+,-(5,)C%1$80C%1$93
+$40(1C% ,1.% $;-$+1,'% 4$10-,'% +$40(1<DE +(67+(5,)C% (+% 67+($/0-#$'0,'% /('*/)<
"#$)$%'$)0(1)%(&&,)0(1,''*%/+$)$1-%A0-# d'$(5(+/#0&% 67+(5,)% ,+$% 9)9,''*% )('03
W>E>B69@'(6BB9=7B>?'*>G>?:6G>
(8$+'*014%)@01%&#,14$)%)9&#%,)%#*/$+-+03 -,+*%,1.%,//$,+%01%50..'$3,4$.%-(%('.$+
&#()0)C% ,'-$+,-0(1% 01% /045$1-,-0(1C% ,1. 01.080.9,')<=EL
$&&+01$% 4',1.% #*/$+/',)0,<K!CDE% O(5$ ,8H96KL?6G>
5,*%#,8$%,1%(8$+'*014%/01@%#9$< X140(67+(5,)% ,+$% )5,''C% ^$)#3&('(+$. !FEG6IB>E:9='(9L?6LB>E:6G>'
"#$% -+$,-5$1-% (2% &#(0&$% 0)% &(5/'$-$ -(% 7+(A10)#3+$.% )#01*% /,/9'$)% 9)9,''*
$;&0)0(1C% 02% 2$,)07'$<% O05/'$% &(5/'$-$ R.6BB>HF867E'(9L?6G>V
.0)-+079-$.%(1%-#$%&$1-+,'%2,&$<%U9'-0/'$
$;&0)0(1C%,)%(//()$.%-(%+,.0&,'%$;&0)0(1C 2,&0,'% ,140(67+(5,)% ,+$% ,% /,-#(41(3 ]$)5(/',)-0&% 67+(7',)-(5,%0)%,% 7$1041
0)% &9+,-08$<% X1% ,44+$))08$% ,//+(,&# 5(10&%2$,-9+$%(2%-97$+(9)%)&'$+()0)%G)$$ 67+(9)% -95(+% -#,-% ,//$,+)% ,)% ,% )'(A3
)#(9'.% 7$% ,8(0.$.% 7$&,9)$% -#$% (8$+,'' Q#,/<%=?=J<!? 4+(A014C% /,01'$))C% 5(70'$% 5,))% '(&,-$.
/+(41()0)%0)%$;&$''$1-<DL d$,+'*%/$10'$%/,/9'$)%,+$%=3%-(%N355C 01% -#$% )97&9-,1$(9)% -0))9$% (+% :9)-% .$$/
/01@%-(%^$)#3&('(+$.%/,/9'$)%,+(91.%-#$ -(% )@$'$-,'% 59)&'$C% (2-$1% A0-#% 2,)&0,'
.688F=:9QF')9EE7F' /$10'$% &(+(1,'% )9'&9)C% (2-$1% 01% ,% '01$,+ ,1.% 59)&'$% 018('8$5$1-<% "#0)% -95(+
.0)-+079-0(1<% "#$*% ,+$% #0)-('(40&,''* #,)%,%/+$.0'$&-0(1%2(+%-#$%,+5C%)#(9'.$+C
/FQ7E[.6BB>HF86G> 0.$1-0&,'% -(% (-#$+% ,140(67+(5,)% G)$$ /()-$+0(+% 1$&@C% 9//$+% 7,&@C% ,7.(501,'
Q(11$&-08$%-0))9$%1$80%/+$)$1-%,)%,)*5/3 Q#,/<%KMJ<!M A,''C%,1.%#0/%:(01-<%B-%9)9,''*%/+$)$1-)%01
-(5,-0&C% ^$)#3&('(+$.% -(% *$''(A37+(A1 -#$% 62-#% -(% )0;-#% .$&,.$)% A0-#% ,% Mj=
/,/9'$)% (+% /',R9$)% -#,-% 5,*% 7$% )('0-,+* 5,'$32$5,'$%+,-0(<=E?
(9L?6J6BB9=7B6G>
(+%4+(9/$.C%'01$,+C%(+%0++$49',+%01%.0)-+0793
-0(1%GH04<%I?3IJ<%"#$%(8$+'*014%$/0.$+50) H07+(2(''0&9'(5,)% ,+$% L3% -(% ?355C
#6B9:>?N'(9L?67E')7G6?
0)% 9)9,''*% )5((-#<DN% "#$)$% #,5,+-(5,) .(5$3)#,/$.C%*$''(A0)#%-(%)@013&('(+$.
&,1%7$%.080.$.%01-(%2,50'0,'C%-#()$%,))(&03 /,/9'$)% '(&,-$.% (1% -#$% #$,.C% 1$&@C% ,1. O('0-,+*% 67+(9)% -95(+% 0)% ,% -95(+% (1&$
,-$.% A0-#% -97$+(9)% )&'$+()0)C% $+9/-08$C 9//$+% -+91@<!I% a0+-3h(443]97p% )*13 -#(94#-% -(% (1'*% 018('8$% -#$% /'$9+,'% &,83
,1.% (-#$+% 0)(',-$.% 8,+0,1-)<% h0)-('(403 .+(5$%0)%,1%,9-()(5,'%.(501,1-%&(1.03 0-*C%79-%0-%0)%1(A%@1(A1%-(%7$%,%+,+$%)(2-3
&,''*C%&(11$&-08$%-0))9$%1$80%,//$,+%A0-# -0(1%&,9)$.%7*%,%59-,-0(1%01%-#$%/+(-$01 -0))9$% -95(+% A0-#% ,% /+$.0'$&-0(1% -(% -#$
,% 1(+5,'% $/0.$+50)% (8$+'*014% 01&+$,)$. 2(''0&9'01% ,1.% 0)% &(5/+0)$.% (2% /,-0$1-) #$,.% ,1.% 1$&@% +$40(1C% ,'-#(94#% 0-% 5,*
.$/()0-0(1%(2%.$1)$%&('',4$1(9)%791.'$) A0-#% 67+(2(''0&9'(5,)C% -+0&#(.0)&(5,)C 018('8$%,1*%,1,-(50&%)0-$<%B-%9)9,''*%7$3
01%-#$%'(A$+%.$+50)< ,1.% ,&+(&#(+.(1)<% "#0)% &(1.0-0(1% #,) #,8$)%,)%,%7$1041%-95(+C%,'-#(94#%5(+$
!!!
2=>?@-,ATB# HI'!F?G>:6KL?6G>'68':<F'?9H<:':<9H<'6J'>'N678H
G>8D'J,'*5,$I'!F?G>:6KL?6G>E'G>N'LF'=<>?>=:F?9\F@'>E':NI9=>BU
=FBB7B>?U' >8@' >:NI9=>B' =FBB7B>?D' )<F' :NI9=>B' @F?G>:6KL?6G>' 9E' =6G;
I6EF@'6J'EI98@BF'=FBBE'98':<F'@F?G9E':<>:'>?F'<>I<>\>?@BN'>??>8HF@
98:6'J>E=9=BFE'>8@'B>=Y'>:NI9=>B'=N:6B6H9='JF>:7?FED')<F'BFE968'F@HF'9E
I66?BN'@FK8F@U'>8@':<F'EI98@BF'=FBBE'6J:F8'98KB:?>:F'LF:ZFF8':<9=Y;
F8F@'=6BB>HF8'KLF?E'R<FG>:6MNB98'>8@'F6E98'4PP!'G>H89K=>:968',a
H iPP!'G>H89K=>:968'WVD
J $
,44+$))08$% 8,+0,1-)% ,1.% 5$-,)-,-0&% -93 )-,-0&% 2(+% 5,1*% *$,+)<% V$4+$))0(1% 5,* 5()-% &,)$)% G)$$% H04<% I?3KaC QJ<% "#$
5(+)%#,8$%7$$1%+$/(+-$.<=EM '$,8$%#*/(/045$1-,-0(1<%]$+5,-(67+(3 $.4$)% (2% -#$% '$)0(1% ,+$% /((+'*% .$61$.C
5,)% ,+0)014% (1% -#$% 2,&$% ,+$% 91&(55(1 A0-#% 01.080.9,'% &$'')% 016'-+,-014% 7$3
79-% +$R90+$% )/$&0,'% 5$1-0(1<% "#$*% ,+$ -A$$1% &('',4$1% 791.'$)% -#,-% ,+$% (2-$1
!F?G>:6KL?6G>'R.7:>8F67E' 5(+$%(2-$1%(2%&$''9',+%-*/$C%$;-$1.%01-( -#0&@$1$.% ,1.% #*,'010F$.% Gm@$'(0.,'nJ<
WF89H8'(9L?67E'*9E:96=N:6G>U' -#$%)97&9-,1$(9)%2,-%(+%59)&'$C%,1.%2+$3 U0-(-0&% 649+$)% 5,*% 7$% /+$)$1-C% 79-
R9$1-'*% +$&9+c% -#$+$2(+$C% ,% A0.$+% 010-0,' ,-*/0&,'%2(+5)%,+$%1(-%,%2$,-9+$<
#=BF?6E98H'*FG>8H96G>V
$;&0)0(1%0)%+$&(55$1.$.<=EK X%&$''9',+%8,+0,1-%&#,+,&-$+0F$.%7*%013
]$+5,-(67+(5,% 0)% /$+#,/)% -#$% 5()- X% .$$/$+% 8,+0,1-% (2% .$+5,-(67+(5, &+$,)$.% &$''9',+0-*C% )-(+02(+5% ,++,14$3
&(55(1% 5$)$1&#*5,'% 4+(A-#% (2% -#$ &,1% 7$% &(129)$.% &'010&,''*% A0-#% .$+5,3 5$1-C% ',+4$+% )0F$C% ,1.% '(&,-0(1% 01% -#$
)@01<%B-%#,)%,%/+$.0'$&-0(1%2(+% -#$%'(A$+ -(67+(),+&(5,% /+(-97$+,1)% G)$$% Q#,/< .$$/% .$+50)C% (2-$1% A0-#% $;-$1)0(1% 01-(
'$4)% (2% A(5$1% 01% -#$0+% $,+'*% LE)<% X1* =LMJ<% "#0)% .$+5,-(67+(5,% -*/0&,''*% 0) -#$%)9/$+6&0,'%)97&9-,1$(9)%-0))9$C%5,*
,4$% 5,*% 7$% ,22$&-$.C% 79-% -*/0&,''*% .$+3 (1%-#$%-+91@%,1.%$;-+$50-0$)%(2%*(914$+ 7$% .026&9'-% -(% .022$+$1-0,-$% 2+(5% .$+3
5,-(67+(5,)%,//$,+%01%-#$%LE)%,1.%NE)< ,.9'-%/,-0$1-)C%$;-$1.014%01-(%-#$%)97&93 5,-(67+(),+&(5,% /+(-97$+,1)<% B1% )9&#
]$+5,-(67+(5,% 0)% 5(+$% &(55(1% 01 -,1$(9)%-0))9$C%,1.%-$1.)%-(%7$%',+4$+%01 &0+&95)-,1&$)C%05591(#0)-(&#$50&,'%$;3
A(5$1% -#,1% 01% 5$1<% "#$% )9+2,&$% 5,* )0F$_=%-(%L%&5< /+$))0(1%(2%2,&-(+%SBBB,%,1.%2,)&01%G.$13
7$% )#01*% (+% @$+,-(-0&C% ,1.% -#$% &('(+% 0) "+,95,C%)9&#%,)%01)$&-%70-$)C%#,)%7$$1 .+0-0&%&$''% 5,+@$+)J%+,-#$+%-#,1%Q]N?%0)
9)9,''*% 7+(A1C% )(5$-05$)% A0-#% ,% /',* -#(94#-%-(%01.9&$%)(5$%'$)0(1)<%H(+%-#0) (2-$1%#$'/29'<
(2%&('(+)%+,14014%2+(5%/01@%-(%+$.%-(%-,1 +$,)(1C% )(5$% ,9-#(+)% &',))02*% -#$)$% ,) X% +,+$% 4+(9/% (2% ,-*/0&,'% 67+(9)
-(%^$)#3&('(+$.%GH04<%I?3KXJ<%Q#,+,&-$+3 +$,&-08$k+$/,+,-08$%'$)0(1)%+,-#$+%-#,1%,) #0)-0(&*-(5,)==?%0)%&#,+,&-$+0F$.%7*%/'$(3
0)-0&,''*C%,%.$+5,-(67+(5,%0)%6+5C%01.93 1$(/',)5)<% h(A$8$+C% -#$% +$&$1-% .$53 5(+/#0&C% /'95/C% )/01.'$C% (+% /('*#$.+,'
+,-$.C% ,1.% 5(70'$% ,1.% 5$,)9+$)% 2+(5 (1)-+,-0(1% (2% &#+(5()(5$% ,71(+5,'03 &$'')% A0-#% ',+4$C% #*/$+&#+(5,-0&C% 0++$493
E<M% 55% -(% =% &5% 01% .0,5$-$+<% b,-$+,' -0$)%01%,-%'$,)-%)(5$%&,)$)%(2%.$+5,-(63 ',+C%(+%70F,++$%19&'$0%)$-%01% ,% 7,&@4+(91.
&(5/+$))0(1%/+(.9&$)%,%.05/'$3'0@$%.$3 7+(5,% )9//(+-)% ,% 1$(/',)-0&% 1,-9+$<=ED (2% &',))0&% 2$,-9+$)% (2% 67+(9)% #0)-0(&*3
/+$))0(1% 01% -#$%(8$+'*014%)@01% Gm79--(13 Y2%1(-$C%-#$%@,+*(-*/0&%&#,14$)%0.$1-03 -(5,C% 01&'9.014% ,% )-(+02(+5% /,--$+1% ,1.
#('014nJ<%]$+5,-(67+(5,)%5,*%7$%)('03 6$.% ,+$% .022$+$1-% 2+(5% -#()$% 01% .$+3 @$'(0.,'% &('',4$1<% O(5$% '$)0(1)% ,--,01% ,
-,+*%(+%59'-0/'$C%,1.%4$1$+,'0F$.%'$)0(1) 5,-(67+(),+&(5,<% X%80+,'% $-0('(4*%,')( .0,5$-$+% (2% 5(+$% -#,1% L% &5C% 018,.$% -#$
#,8$%7$$1%.$)&+07$.C%,)%#,8$%(&&,)0(1,' #,)%7$$1%&(1)0.$+$.< )9/$+6&0,'% )97&9-0)C% (+% $;#070-% 1$&+()0)<
919)9,'% -95(+)% &(161$.% -(% -#$% /,'5) h0)-('(40&,''*C% -#$% $/0.$+50)% 0)% 9)93 X-*/0&,'%50-(-0&%649+$)%#,8$%7$$1%1(-$.C
,1.% )('$)<% g)9,''*% ,)*5/-(5,-0&C% -#$* ,''*% #*/$+/',)-0&% ,1.% #*/$+/045$1-$. ,)% #,8$% '(&,'% +$&9++$1&$% ,1.% .0)-,1-% 5$3
(&&,)0(1,''*%,+$%/+9+0-0&%,1.%5,*%9'&$+3 Gm.0+-*% 614$+1,0'n% )041J< % "#$% .$+3 -,)-,)$)<%"#9)C%'$)0(1)%A0-#%)9&#%,-*/0&,'
,-$% ,2-$+% -+,95,<% O(5$% -95(+)% 4+(A 50)% #,)% #,/#,F,+.'*% ,++,14$.% 2,)&0&'$) 2$,-9+$)%59)-%7$%$;&0)$.%&(5/'$-$'*%,1.
!!A 8$+*% +,/0.'*C% A#$+$,)% (-#$+)% +$5,01 (2%/'95/%)/01.'$%&$'')%-#,-%',&@%,-*/0,%01 -#$%/,-0$1-)%2(''(A$.%9/%&,+$29''*<
B5591(',7$'014% 2(+% 2,&-(+% SBBB,% ,1. ,''*% 0)% 1(-% &9+,-08$<% \;&0)0(1% -(% -#$ ==< \1F014$+% HU% $-% ,'j% H07+(9)% -95(+)% (2
2,)&01% 0)% 9)9,''*% /()0-08$% 01% .$+5,-(63 .$$/$+% )97&9-,1$(9)% -0))9$% 0)% 1$&$)),+* 012,1&*% ,1.% �'.#((.C% 01% J.-A! 6%''D1
6D/.*'C%$.0-$.%7*%e$0))%OeC%P('.7'95
7+(5,C==I% 79-% 1(-% 01% .$+5,-(67+(),+3 -(%.$&+$,)$%-#$%+0)@%2(+%+$&9++$1&$%(2%-#$ oV<%O-<%b(90)C%U()7*3T$,+%a((@C%LEE=%/
&(5,% /+(-97$+,1)<==K% B1% ,..0-0(1C% -#$ .$$/$+% 8,+0,1-% (2% .$+5,-(67+(5,<% "A( NDD
5(+$% &$''9',+% 2(+5)% (2% .$+5,-(67+(5, &$''9',+% .$+5,-(67+(5,)% #,8$% 5$-,)-,3 N!< H$+$1&% "% $-% ,'j% X44+$))08$% 67+(5,-()0)
-$1.%-(%$;/+$))% 3)5((-#%59)&'$%,&-01C )0F$.%-(%'*5/#%1(.$)%,1.%'914)<==!%`(-,3 G.$)5(0.% -95(+)Jj% ]$610-0(1C% (&&9+3
A#$+$,)% -#$% '$)0(1)% A0-#% 5(+$% $/0-#$3 7'*C%7(-#%(+0401,'%'$)0(1)%A$+$%L%&5%01%.03 +$1&$C% /,-#('(4*C% .0,41()-0&% /+(7'$5)C
&'010&,'% 7$#,80(+C% 4$1$-0&% 7,&@4+(91.<
'0(0.%&$'')%,1.%40,1-%&$'')%-$1.%-(%$;/+$)) ,5$-$+C% ,1% 919)9,''*% ',+4$% )0F$% 2(+ ;.+!M!;$A#.+ 87jMC%LEEI
#0)-0(&*-0&%5,+@$+)<==D .$+5,-(67+(5,C% ,1.% #,.% +$&9++$.% '(3 MK< a(9-'03f,),/0.(9% H% $-% ,'j% h*/$+-+(/#0&
`(% -+$,-5$1-% 0)% 1$&$)),+*% 91'$)) &,''*%7$2(+$%5$-,)-,)0)< ,1.%@$'(0.,'%)&,+)j%X1%,//+(,&#%-(%/('*3
)*5/-(5,-0&<%X%&(55(1%+$,)(1%2(+%)9+3 -#$+,/*<%5&A!M!G1*/$A.+!66jNL?C%LEEM
II< U(1-4(5$+*%\XC%U$0)%oUj%`(.9',+%2,)3
40&,'% +$5(8,'% 0)% .9$% -(% +$/$,-$.% -+,95, &00-0)<% B-)% 5(+/#('(40&% )/$&-+95% ,1.
-(%-#$%.$+5,-(67+(5,%2+(5%)#,8014%-#$ n&`'%&(&%&/.&# 05591(#0)-(&#$50&,'%/+(6'$<%3/!M!JD*0
'(A$+% '$4)<% a$&,9)$% ,7(9-% LE% /$+&$1-% (2 ;$A#.+ 38j!?LC%=!!=
&$''9',+%.$+5,-(67+(5,)%+$&9+%,2-$+%)053
)<F'J7BB'?FJF?F8=F'B9E:'J6?'>BB'=<>I:F?E' D?< h$1.$+)(1%VV%$-%,'j%H,50'0,'%&9-,1$(9)
/'$% 70(/)*C% ,% 29)02(+5% $;&0)0(1% 01-(% -#$ 9E'>Q>9B>LBF'>:'ZZZD@9HGOD=6GD &('',4$1(5,<%V$/(+-%(2%&,)$)<%3*"#!G1*,
/$A.+ 52jLNC%=!ID
)9/$+6&0,'%)97&9-,1$(9)%-0))9$%0)%+$&(53 I< h0&@)%oC%U0$+,9%Pj%"#$%)/$&-+95%(2%/$.03 =EN< Q#$1% "U% $-% ,'j% d'$(5(+/#0&% )&'$+(-0&
5$1.$.<%Q+*()9+4$+*%5,*%7$%#$'/29'%-( ,-+0&% 67+(7',)-0&% ,1.% 5*(67+(7',)-0& 67+(5,j% X% &,)$% +$/(+-% ,1.% '0-$+,-9+$
^,--$1% (9-% -#$%.$+5,-(67+(5,% 79-%9)93 -95(+)< T+A*$'A*D"A!;$A#.+ 02jLIMC%LEE? +$80$A<%3/!M!G1*/$A.B$A#.+ 06jM?C%LEEL
.B989=>B'(98@98HE
.*,2)&%'3T
X''% -*/$)% (2% ,1$-(.$+5,% ,+$% &#,+,&-$+3
,/&)$!&%+,
H*)/%5)4<','*5,
0F$.% 7*% ,% &0+&95)&+07$.% '())% (2% 1(+5,'
)@01% $',)-0&0-*<% "#$% &#,+,&-$+0)-0&% '$)0(1)
,)','A-,/.&'
,+$% ^,&&0.% &0+&95)&+07$.% ,+$,)% (2% )',&@
P/:)4,H/4%U:01, )@01% A0-#% -#$% 05/+$))0(1% (2% '())% (2% .$+3
5,'% )97)-,1&$% 2(+5014% .$/+$))0(1)C
;0.%45)4.,%9,/:),K\0*, A+01@'014C% (+% ),&3'0@$% /+(-+9)0(1)% GH04<
IM3=J<% "#$)$% ,-+(/#0&C% )@013&('(+$.C% (+
.>:<F?98F'+>>?9 7'9$3A#0-$%'$)0(1)%,+$%M%-(%NE%55%01%.03
57B9F'26ZFBB ,5$-$+<%"#$%1957$+%8,+0$)%2+(5%,%2$A%-(
.9?=7GE=?9LF@'4;':6'i;=G'>?F>E'6J']>==9@'
#91.+$.)<%"#$%)@01%)9+2,&$%&,1%7$%A+013
EY98':<>:'G>N'LF'FBFQ>:F@U'G>=7B>?U'6?'
@'$.C% -#011$.C% ,1.% (2-$1% .$/045$1-$.C
@FI?FEEF@D
,/&)$!&%+, ,1.% ,% &$1-+,'% .$/+$))0(1% 5,*% 7$% )$$1<
Q(,'$)&$1&$% (2% )5,''$+% '$)0(1)% &,1% 408$ $J:F8'=9?=7GE=?9LF@'E>=;B9YF'I?6:?7E968ED
*9E:6?N +0)$%-(%',+4$+%#$+10,-0(1)<%"#$%$;,501014 2?9G>?N'6?'EF=68@>?N':6'>'I?F=F@98H'@F?;
614$+%)01@)%A0-#(9-%+$)0)-,1&$%01-(%,%.0)3 G>:6E9E'98':<F'E>GF'B6=>:968D
&I9@FG96B6HN -01&-% /0-% A0-#% )#,+/% 7(+.$+)% ,)% 02% 01-(% , 2>:<6B6HN'=68E9E:E'6J'B6EE'6J'FB>E:9=':9EE7F'
#$+10,%+014%G79--(1#('$%)041J<%"#$%/+(-+93 98':<F'@F?G9ED
"#$%'$)0(1)%01%,1$-(.$+5,%9)9,''*%(&&9+ )0(1% +$,//$,+)% ,)% )((1% ,)% -#$% /+$))9+$
01% *(914% ,.9'-)% 7$-A$$1% -#$% ,4$% (2% =M 2+(5%-#$%614$+%0)%+$5(8$.<?
,1.%NE%*$,+)%(2%,4$%,1.%5(+$%2+$R9$1-'* "#$% 5()-% &(55(1% )0-$)% 2(+% -#$)$ (2% '$)0(1)% &,1% &(3$;0)-% 01% -#$% ),5$% /,3
01%A(5$1%-#,1%5$1<%X1$-(.$+5,%0)%+,+$C ,)*5/-(5,-0&% '$)0(1)% ,+$% -#$% &#$)-C -0$1-c% -#$% /+(41()0)% ,1.% -#$% #0)-(/,3
79-% -#$% 01&0.$1&$% 0)% 91@1(A1<% X1$-(3 7,&@C%1$&@C%,1.%9//$+%$;-+$50-0$)<%"#$* -#('(4*%,+$%,')(%-#$%),5$<?
.$+5,%#,)%7$$1%+$/(+-$.%01%)$8$+,'%#913 9)9,''*% .$8$'(/% 01% *(914% ,.9'-)C% ,1. "+9$% )$&(1.,+*% ,1$-(.$+5,% 05/'0$)
.+$.%&,)$)%)01&$%-#$%(+0401,'%+$/(+-< 1$A% '$)0(1)% (2-$1% &(1-019$% -(% 2(+5% 2(+ -#,-% -#$% &#,+,&-$+0)-0&% ,-+(/#0&% '$)0(1
5,1*% *$,+)% ,)% -#$% ('.$+% '$)0(1)% 2,0'% -( #,)%,//$,+$.%01%-#$%$;,&-%),5$%)0-$%,)%,
+$)('8$< /+$80(9)% )/$&06&% /,-#('(4*c% -#$% 5()-
2>:<6HF8FE9E
d+05,+*% ,1$-(.$+5,% (&&9+)% A#$1 &(55(1% &,9)$)% ,+$% /+(7,7'*% ,&1$% ,1.
"#$% /,-#(4$1$)0)% (2% ,1$-(.$+5,% 0)% 913 -#$+$% 0)% 1(% 91.$+'*014% ,))(&0,-$.% )@01 8,+0&$'',<%`95$+(9)% ,1.% #$-$+(4$1$(9)
@1(A1<%"#$%@$*%.$2$&-%0)%.,5,4$%-(%-#$ .0)$,)$% G0<$<C% 0-% ,+0)$)% (1% &'010&,''*% 1(+3 .$+5,-()$)% #,8$% 7$$1% ,))(&0,-$.% A0-#
.$+5,'%$',)-0&%67$+)<%X1$-(.$+5,%504#- 5,'% )@01J<% B-% 0)% #0)-(+0&,''*% )97.080.$. )$&(1.,+*%,1$-(.$+5,C%1,5$'*%)*/#0'0)C
7$% &(1)0.$+$.% -(% 7$% 919)9,'% )&,+)C% 7$3 01-(% -A(% -*/$)j% G=J% -#()$% A0-#% /+$&$.3 b*5$%.0)$,)$C%5(''9)&95%&(1-,40()95C
&,9)$% )&,+)% ,')(% #,8$% .$&+$,)$.% $',)-0& 014% 01^,55,-(+*% '$)0(1)C% 5,01'*% $+*3 /0'(5,-+0&(5,)C% :98$10'$% ;,1-#(4+,193
-0))9$<% "#$% '())% (2% .$+5,'% $',)-01% &(9'. -#$5,% G-#$% o,.,))(#13d$''0FF,+0% -*/$JC '(5,C% ;,1-#(5,)C% 4+,19'(5,% ,119',+$C
7$%-#$%+$)9'-%(2%,1%05/,0+$.%-9+1(8$+%(2 ,1.%GLJ%-#()$%A0-#(9-%/+$&$.014%01^,53 '$/+()*C% .0)&(0.% '9/9)C% ),+&(0.()0)C% ,1.
$',)-01% &,9)$.% 7*% $0-#$+% 01&+$,)$.% .$3 5,-(+*%'$)0(1)%G-#$%O&#A$1014$+3a9FF0 '0&#$1% /',19)C% -(% 5$1-0(1% (1'*% ,% 2$A<
)-+9&-0(1%(+%.$&+$,)$.%)*1-#$)0)%(2%$',)3 -*/$J<% "#0)% &',))06&,-0(1% 0)% (1'*% (2% #0)3 X1$-(.$+5,% #,)% ,')(% 7$$1% .$)&+07$.% 01
-0&%67$+)< -(+0&,'% 01-$+$)-C% 7$&,9)$% -#$% -A(% -*/$) /+$5,-9+$%012,1-)%,1.C%01%)(5$%&,)$)C%0-
!!#
#12&'-)(
@%--")"#$%0/'@%0+#*C%C'*-'
8)%E0),'3#"$*K")E0
-S-ZHN-; ;-R@-KK-;
#F=68@>?N' #F=68@>?N'
>8F:6@F?G> >8F:6@F?G>
,=8F'E=>?E AB7=6=6?:9=69@;
nFB69@E 98@7=F@'>:?6I<N
/FQ7E'B9I6G>:6; ,=8F'E=>?E
E7E'E7IF?K=9>B9E
2>I7B>?
FB>E:6??<FM9E
H J .688F=:9QF':9EE7F'
8FQ9
2=>?@-,A!B" ,8F:6@F?G>D' 2?9G>?N' >8F:6@F?G>D' HI' +7B:9IBFU' E<>?IBN' @FK8F@U' @FI?FEEF@' BFE968E
:<>:'B66Y'I78=<F@'67:'98':<F'E7I?>=B>Q9=7B>?'?FH968D'JI'#6J:U'E>=;B9YF'I?6:?7E968E'68':<F'L>=YD'q<F8'@F;
(4*% .$5(1)-+,-$)% 2(&,'% .$4$1$+,-0(1% (2
I?FEEF@U':<F?F'9E':<F'L7::68<6BF'I<F86GF868D')<9E'9E':<F'E>GF'I>:9F8:'>E'98'HD
$',)-0&%67$+)%,1.%1(+5,'%&('',4$1<%"#$+$
,+$%1(%,))(&0,-$.%$;-+,3&9-,1$(9)%,71(+3
5,*%#,8$%7$$1%+$',-$.%-(%-#$%9)$%(2%&93 0)% (2-$1% $'0&0-$.C% ,1.% -#$% /,-#('(4*% 0)
5,'0-0$)<% "#0)% 0)% 7$'0$8$.% 7*% )(5$% ,93
-,1$(9)%5(10-(+014%'$,.)%(+%,.#$)08$)<M 8$+*%.0)-01&-<
-#(+)%-(%7$%,%8,+0,1-%(2%&(11$&-08$%-0))9$
a(-#% -*/$)% 5,*% 7$% ,))(&0,-$.% A0-#% ,1 P'9&(&(+-0&(0.301.9&$.% ,-+(/#*% (&3
1$80=E%(+%,1%,7(+-08$%2(+5%(2%-#$%a9)&#@$3
91.$+'*014% .0)$,)$C% 5,01'*% ,1-03/#()3 &9+)%5()-%&(55(1'*%(8$+%-#$%-+0&$/)%(+
Y''$1.(+22% )*1.+(5$C==% A#$+$,)% (-#$+)
/#('0/0.% )*1.+(5$% ,1.% #95,1% 05593 79--(&@)% ,-% )0-$)% A#$+$% 01:$&-0(1)% ,+$
-#01@% -#,-% -#$)$% +$/+$)$1-% /,/9',+% ,&1$
1(.$6&0$1&*%80+9)<%X'-#(94#%5()-%&,)$) 9)9,''*% 408$1<% Q'010&,''*C% -#$% '$)0(1)% +$3
)&,+)<=L%"#$*%,+$%.022$+$1-0,-$.%2+(5%,1$3
,+$% )/(+,.0&C% +,+$% &,)$)% (2% 2,50'0,'% ,1$3 )$57'$% ,-+(/#(.$+5,<% h0)-(+*% 0)% (7803
-(.$+5,%7*%7$014%6+5%1(13&(5/+$))07'$
-(.$+5,% #,8$% 7$$1% +$&$1-'*% .$)&+07$. (9)'*% 5()-% #$'/29'% 01% 5,@014% -#$% .0,43
'$)0(1)<
,1.%,+$%9)9,''*%1(-%,))(&0,-$.%A0-#%/+$3 1()0)<% d(',+0F,-0(1% 5,*% )#(A% -#$
U0.3.$+5,'%$',)-('*)0)%GU]\J%9)9,''*
$;0)-014%'$)0(1)<I )-$+(0.%&+*)-,')%01%-#$%.$+50)<
&(1)0)-)% (2% ',+4$+% ,+$,)% A0-#% .0229)$
`$89)% '0/(5,-()9)% )9/$+6&0,'0)% (2
A+01@'014% A0-#(9-% #$+10,-0(1% ,1.% A0-#
h(225,1% ,1.% q9+#$''$% /+$)$1-)% ,)% ,
2>:<6B6HN &'9)-$+$.% 4+(9/% (2% )(2-C% )@013&('(+$.% -(
$',)-('*)0)% '050-$.% -(% -#$% 50.3.$+50)
Ga(;%IM3=J<
B1%+(9-01$'*%)-,01$.%)$&-0(1)C%-#$%&('',4$1 *$''(A% 1(.9'$)% 9)9,''*% (1% -#$% '(A$+
67$+)%A0-#01%-#$%.$+50)%(2%,22$&-$.%)@01 -+91@% ,1.% 79--(&@)% ,1.% /+$)$1-% )01&$
,//$,+%1(+5,'<%d$+08,)&9',+%'*5/#(&*-$) 70+-#<% h0)-('(4*% )#(A)% $&-(/0&% 5,-9+$ )?F>:GF8:
,+$% (2-$1% /+$)$1-% 01% ,''% -*/$)% (2% ,1$-(3 '0/(&*-$)%'(&,-$.%01%-#$%.$+50)<
d,/9',+% $',)-(++#$;0)% 0)% ,1% ,&R90+$. "#$+$% 0)% 1(% +$49',+'*% $22$&-08$% -+$,-3
.$+5,%,1.%.(%1(-%&(++$',-$%A0-#%&'010&,'
.0)(+.$+% &#,+,&-$+0F$.% 7*% A#0-$C% 6+5 5$1-<%B1%)$&(1.,+*%,1$-(.$+5,C%,//+(3
01^,55,-(+*%61.014)<K
1(132(''0&9',+% /,/9'$)% 5$,)9+014% =% -(% N /+0,-$% -+$,-5$1-% (2% -#$% 01^,55,-(+*
"#$% /+$.(501,1-% .$2$&-% ,)% +$8$,'$.
55C%$8$1'*%)&,--$+$.%(1%-#$%&#$)-C%,7.(3 91.$+'*014% &(1.0-0(1% 504#-% /+$8$1-
7*% $',)-0&% -0))9$% )-,01)% 0)% ,% 2(&,'% /,+-0,'
5$1C%,1.%7,&@<%B-%9)9,''*%,//$,+)%01%,.(3 1$A%'$)0(1)<%B1%/,-0$1-)%A0-#%'050-$.%'$3
(+% &(5/'$-$% '())% (2% $',)-0&% -0))9$% 01% -#$
'$)&$1&$%(+%$,+'*%,.9'-#((.<%"#$%/,-#('3 )0(1)% -#,-% ,+$% &()5$-0&,''*% (7:$&-0(13
/,/0'',+*% ,1.k(+% 50.3+$-0&9',+% .$+50)<
,7'$C% )9+40&,'% $;&0)0(1% 5,*% 7$% 9)$29'<
"#$+$% ,+$% 9)9,''*% )(5$% +$)0.9,'% ,71(+3
W,+0(9)% -#$+,/$9-0&% 5(.,'0-0$)% #,8$
5,'C%0++$49',+C%,1.%2+,45$1-$.%$',)-0&%63
7$$1%-+0$.%79-%A0-#%1(%05/+(8$5$1-%(2
7$+)%GH04<%IM3LJ<D%d+$)95,7'*C%-#$%A$,@3
$;0)-014% ,-+(/#0&% '$)0(1)C% 01&'9.014% 013
$1014% (2% -#$% $',)-0&% 1$-A(+@% '$,.)% -(
-+,'$)0(1,'% 01:$&-0(1)% (2% -+0,5&01('(1$
^,&&0.0-*% ,1.% #$+10,-0(1<% ]0+$&-% 05593
,1.% )*)-$50&% ,.5010)-+,-0(1% (2% ,)/0+01C
1(^9(+$)&$1&$%)(5$-05$)%)#(A)%'01$,+
.,/)(1$C% /#$1*-(01C% /$10&0''01% P% G7$13
(+% 4+,19',+% .$/()0-)% (2% 05591(4'(793
F*'/$10&0''01JC% ,1.% 80-,501% \<% O(5$% ,93
'01)% ,1.% &(5/'$5$1-% ,'(14% -#$% .$+5,'3
-#(+)% #,8$% +$/(+-$.% 05/+(8$5$1-% A0-#
$/0.$+5,'%:91&-0(1%(+%,+(91.%-#$%.$+5,'
#*.+(;*&#'(+(R901$<
7'((.%8$))$')%01%,22$&-$.%)@01<!%\'$&-+(1
50&+()&(/*% .$5(1)-+,-$)% -#,-% -#$% $',)3
-0&%67$+)%,+$%2+,45$1-$.%,1.%0++$49',+%01 $)*&%',)%$2*".'
,//$,+,1&$%,1.%(&&,)0(1,''*%&,1%7$%$13 !"#$%!&%#'$(')*&'#n"/
49'2$.%7*%5,&+(/#,4$)<
+9@;!F?G>B'&B>E:6BNE9E
!9JJF?F8:9>B'!9>H86E9E U]\%0)%,%+,+$%,&R90+$.%.0)(+.$+%(2%$',)-0&
-0))9$<%B-%0)%&#,+,&-$+0F$.%7*%/,-&#$)%,1.
X1$-(.$+5,%59)-%7$%.022$+$1-0,-$.%2+(5 /',R9$)% (2% .0229)$C% 61$C% A+01@'$.% )@01C
(-#$+%.0)(+.$+)%(2%$',)-0&%-0))9$%,)%A$''%,) 2=>?@-,A!BD ,8F:6@F?G>D' 2>:<6B6HN' E<6ZE 5()-% (2-$1% '(&,-$.% (1% -#$% -+91@C% 1$&@C
,-+(/#0$)%(2%-#$%&(11$&-08$%-0))9$< @F=?F>EF'6J'FB>E:9='KLF?E'98':<F'I>I9BB>?N'>8@'?F; ,1.%,+5)<%B1%=!KKC%O#$''$*%,1.%e((.%+$3
f$'(0.)% 2(+5% 1(.9'$)% -#,-% ,+$% 59&# :9=7B>?' @F?G9E' RqF9HF?:sE' E:>98VD' R1EF@' Z9:<' IF?; /(+-$.% -#$%6+)-%&,)$% (2% mA+01@'$)%.9$%-(
!!C 6+5$+%(1%/,'/,-0(1<%X%#0)-(+*%(2%-+,95, G9EE968'J?6G'09=:6?'n6Y:>U'+!DV 0.0(/,-#0&%'())% (2%50.3.$+5,'% $',)-0&% -0)3
)9$<n=N% O01&$%-#$1C%2$A$+% -#,1% =EE%&,)$)
#,8$%7$$1%+$/(+-$.<%"#$%8,)-%5,:(+0-*%(2
/,-0$1-)% ,+$% Q,9&,)0,1% A(5$1% 7$-A$$1
-#$%,4$)%(2%NE%,1.%ME%*$,+)<=?
,"/*1+',/!'2#&1!$,"/*1+ .68E:?9=:98H'L>8@E'R>98<7G'>8@'
IEF7@6>98<7GV'=>7EF'>GI7:>:968'R>7:6;
Q(1)-+0&-014%7,1.)%,+$%&',))06$.%,)%,013 >GI7:>:968V'6J'@9H9:ED
#95%,1.%/)$9.(,01#95<%X01#95%0)%-#$
.$8$'(/5$1-% (2% &(1)-+0&-014% 7,1.) ,98<7G'9E'>'=68E:?9=:98H'L>8@'>?678@'>'
,+(91.% -($)% 01% 91.$+.$8$'(/$.% &(913 @9H9:'>8@'9E'G6E:'=6GG68'98':<F':?6I9=E'
2=>?@-,AAB" ,98<7G'98'>8',J?9=>8'G>BFD'R1EF@
-+0$)%(2%X2+0&,%,1.%5,*%9'-05,-$'*%+$)9'- >8@'E7L;:?6I9=ED
Z9:<'IF?G9EE968'J?6G'q>N8F'+D'+FNF?EU'+!DV
01%,9-(,5/9-,-0(1<%B1%-#$%X2+0&,1%T(+97 ":'9E'G6E:'=6GG68'>?678@':<F'KJ:<':6F'6J'
',149,4$C $%&#D/%5$,1)%m-(%),A%(+%6'$Cn IF6IBF'Z>BY98H'L>?FJ66:D
.0)-,''*C%,1.%+($1-4$1(4+,/#0&%$;,501,3
,1.%01%-#$%a+,F0'0,1%/,-(0)%0-%5$,1)%m6)3 2EF7@6>98<7G'=68E:?9=:968E'G9G9='>98; -0(1%)#(A)%+$)(+/-0(1%(2%-#$%91.$+'*014
)9+$<n=% B1% -#$% +$5,01.$+% (2% -#$% A(+'.C <7G'=B989=>BBN'>8@'>?F''G6?F'=6GG68'98' 7(1$%,1.%9'-05,-$'*%,9-(,5/9-,-0(1<
&(1)-+0&-014% 7,1.)% -#,-% 5050&% ,01#95 :<F'@FQFB6IF@'Z6?B@D')<FN'>?F'=>7EF@'LN' Q(14$10-,'%&(1)-+0&-014%7,1.)%GO-+$$-$+l)
,+$%-$+5$.%B'1DH.$%&#D/< :<F'J6BB6Z98Hc' 7,1.)J%9)9,''*%018('8$%5(+$%-#,1%(1$%/,+-
,G896:9='L>8@E (2%-#$%7(.*%G)$$%$H04<%II3=<=%01%(13'01$%$.03
&2"!&+"$-$A` .68E:?9=:968E'>EE6=9>:F@'Z9:<'YF?>; -0(1J<%"#$*%2+$R9$1-'*%$1&0+&'$%',+4$%)-+9&3
:6:9='@9E6?@F?EU'98JF=:968EU'>8@':?>7G> -9+$)%)9&#%,)%'057)%(+%$8$1%-#$%-+91@%GH04<
X01#95% G.,&-*'('*)0)% )/(1-,1$,J% 0)% -+,3
II3LJ<% "#$*% /$+)0)-% -#+(94#(9-% '02$% ,1.
.0-0(1,''*%,%.0)$,)$%(2%50..'$3,4$.%X2+03 .68E:?9=:968'LN'FM:F?8>B'G>:F?9>BE'E7=<'
01-$+2$+$% A0-#% 1(+5,'% 4+(A-#% (2% -#$
&,1% 5,'$)% ,&&9)-(5$.% -(% 4(014% 7,+$3 >E'<>9?E'>8@':<?F>@E
018('8$.% )$45$1-% 91'$))% )9+40&,''*
2((-<% B1% -+(/0&% ,1.% )973-+(/0&% &'05,-$) )?F>:GF8:'9E'?FG6Q>B'6J':<F'J6?F9H8' -+$,-$.<K% B1% 5(+$% -#,1% ME% /$+&$1-% (2
0-)% 01&0.$1&$% #,)% 7$$1% +$/(+-$.% ,)% 7$3 E:?>8@E'6?'E7?H9=>B'98:F?QF8:968D &,)$)C% -#$*% ,+$% ,))(&0,-$.% A0-#% (-#$+
-A$$1%E<E=M%/$+&$1-% ,1.%L<E%/$+&$1-% (2
&(14$10-,'% ,1(5,'0$)C% 9)9,''*% )*1.,&3
-#$%/(/9',-0(1<L%"#0)%),5$%&(1.0-0(1%0)
-*'*% (+% &'972((-% A#$1% &(1)-+0&-014
+,+$'*% )$$1% -#+(94#(9-% -#$% +$)-% (2% -#$ ,+$% 4$1$+,''*% 2,&-0-0,'c% ,1.% GNJ% &(1)-+0&-3
7,1.)%,+$%2(91.%(1%-#$%2$$-<D
A(+'.<% Y&&,)0(1,'% 0)(',-$.% &,)$)% #,8$ 014% 7,1.)% )$&(1.,+*% -(% (-#$+% .0)$,)$)<
X+-02,&-9,'% /)$9.(,01#95% 5,*% /+(8$
7$$1% +$/(+-$.% 01% `(+-#% X5$+0&,<N "#$% ',--$+% 5,*% 7$% #$+$.0-,+*% (+% 1(13
-(% 7$% ,% 5()-% &#,''$14014% .0,41()0)<
d)$9.(,01#95%(2%,''%-*/$)%0)%8$+*%+,+$< #$+$.0-,+*<% h$+$.0-,+*% &,9)$)% 01&'9.$
O-+,1.)%(2%#,0+C%67$+)C%(+%-#+$,.)%5,*%7$
/,&#*(1*�,%&(14$10-,C%5,'%.$%U$'$.,C
01-$1-0(1,''*% A+,//$.% ,+(91.% .040-)% (+
59-0',-014% @$+,-(.$+5,C% ,1.% /)(+0,)0)<
&)"$-$A`',/!'2,)*$A&/&#"# (-#$+%7(.*%/,+-)% )9&#% ,)% ,% 10//'$%(+% /$3
`(13#$+$.0-,+*% &,9)$)% 01&'9.$% 8,)&9',+
"#$% /,-#(4$1$)0)% (2% ,01#95% #,)% 1(- ,1(5,'0$)% ,)% )$$1% 01% V,*1,9.% .0)$,)$C
7$$1%&'$,+'*%$'9&0.,-$.<%Q#+(10&%-+,95,C .0,7$-$)% 5$''0-9)C% '01$,+% )&'$+(.$+5,C
012$&-0(1C%#*/$+@$+,-()0)C%.$&+$,)$.%8,)3 ,1.% )*)-$50&% )&'$+()0)<% O$1)(+*% &#,14$)
&9',+% )9//'*C% ,1.% 05/,0+$.% )$1),-0(1 ,))(&0,-$.%A0-#%'$/+()*C%-$+-0,+*%)*/#0'0)C
5,*% /+(.9&$% $;&$))08$% 67+(/',)0,% 01% , )*+014(5*$'0,C% ,1.% )/01,'% &(+.% -95(+)
)9)&$/-07'$% #()-<% ]$1-% $-% ,'<% .$)&+07$. ,)%A$''%,)%-+,95,%+$)9'-014%01%)&,+%2(+5,3
05/,0+$.%7'((.%)9//'*%-(%-#$%2((-%/+(;3 -0(1% 2+(5% 79+1)C% 2+()-70-$C% ,1.% /#*)0&,'
05,'%-(%-#$%4+((8$%,-%-#$%/',1-,+%.040-,' -+,95,%&,1%,')(%&,9)$%&(1)-+0&-014%7,1.)
:91&-0(1<% d((+% /$+29)0(1% A,)% -#$% +$)9'- -(%2(+5<MCI%e#$1%/)$9.(,01#95%0)%,))(3
(2%,--$19,-0(1%(2%-#$%/()-$+0(+%-070,'%,+3 &0,-$.%A0-#%&#+(10&%-+,95,%,1.%012$&-0(1
-$+*%,1.% ,7)$1&$%(2% -#$% /',1-,+% ,+-$+0,' (2% -#$% $;-+$50-0$)C% -#$% /,-#(/#*)0('(4*
,+&#C%A#0&#%'$.%-(%,71(+5,'%#$,'014%,23 5,*%7$%0.$1-0&,'%-(%-#,-%(2%-+9$%,01#95<
-$+% 5$&#,10&,'% -+,95,<% X01#95% #,)
,')(% 7$$1% 7',5$.% (1% +(-,-0(1,'% )-+$))
,//'0$.%-(%-#$%7,+$C%5$&#,10&,''*%91)-,3 .-"/".,-'("/!"/A#
7'$%2((-<? X01#95%9)9,''*%,22$&-)%-#$%62-#%-($%GH04<
"#$+$%,+$%-#+$$%/,-#(/#*)0('(40&%&,-3 II3=J<% B-% 5,*% 7$% 910',-$+,'C% 79-% KM% /$+3
$4(+0$)%(2%/)$9.(,01#95j%G=J%&(14$10-,' &$1-% (2% &,)$)% ,+$% 70',-$+,'<% B1% $,+'*% '$3
&(1)-+0&-014%7,1.)%&,9)$.%7*%-#$%9570'03 )0(1)C%,%4+((8$%(+%)9'&9)%,//$,+)%,-%-#$ 2=>?@-,AABD 2EF7@6>98<7G'R=68HF89:>B'=68;
&,'%&(+.c%GLJ%&(1)-+0&-0(1%.9$%-(%$;-$+1,' /',1-,+%:91&-0(1%(2%-#$%-($%,1.%-#$%)('$< E:?9=:98H'L>8@V' 6J':<F'BFH'98'>8'98J>8:D'R1EF@'Z9:<
2(+&$)C% )9&#% ,)% #,0+)% (+% -#+$,.)C% A#0&# X)%-#0)%)9'&9)%.$$/$1)C%$.$5,%.$8$'(/) IF?G9EE968'J?6G'"B68>'(?9F@F8U'+!DV
!AD
,1.% 012$&-0(1<%\,+'*%&,)$)% (2% ,01#95%(+
/)$9.(,01#95% 5,*% +$)/(1.% -(% &(1)$+3
8,-08$% /',)-0&% +$/,0+% A0-#% ,% C3/',)-*% (+
)050',+% +$',;014% &'()9+$% -#,-% /+$8$1-)
29+-#$+%.0)$,)$%/+(4+$))0(1%,1.%.,5,4$
-(%91.$+'*014%)-+9&-9+$)<=E
B5/$1.014% ,5/9-,-0(1% 01% W(#A01@$'
)*1.+(5$% &,1% )(5$-05$)% 7$% ,7(+-$.
7*% -#$+,/*% A0-#% (+,'% $-+$-01,-$% G)$$
$H04<% II3N<=% 01% (13'01$% $.0-0(1J<
e#$1%&#+(10&%2914,'%(+%7,&-$+0,'%012$&3
-0(1)% ,+$% .0,41()$.% 01% -#$% $,+'*% /#,)$
(2% 7,1.% 2(+5,-0(1C% -+$,-5$1-% 5,*% +$3
8$+)$%-#$%-#+$,-%-(%-#$%.040-<%Y-#$+%/+$3
.0)/()014%&,9)$)%(+%91.$+'*014%.0)$,)$)
)#(9'.% 7$% -+$,-$.% ,44+$))08$'*% 01% -#$
#(/$%(2%2(+$)-,''014%/+(4+$))0(1<
2%&0&/)"$/
X01#95%0)%+,+$'*%)$$1%01%/$(/'$%A#()$
2$$-% ,+$% /+(-$&-$.% 7*% A$,+014% )#($)<
Q(14$10-,'% /)$9.(,01#95% &,11(-% 7$
/+$8$1-$.%,1.%&,1%'$,.%-(%)$+0(9)%70+-#
2=>?@-,AABG 2EF7@6>98<7G'68':<F'KJ:<'K8HF?'6J'>'I>:9F8:'Z9:<'EFQF?F'IE6?9>E9ED'R1EF@'Z9:<'IF?G9E;
.$2$&-)% G)$$% $H04<% II3N<L% 01% (13'01$% $.03
E968'J?6G'%D'5D'.?6ZBFNU'+!DV
-0(1J<% d)*&#('(40&,'% &(91)$'014% 5,*
10)<%"#0)%/#$1(5$1(1%0)%5()-%&(55(1'* 5,*% 7$% /+$)$1-<% B1% /)$9.(,01#95% -#$ /+$8$1-% +$&9++$1&$)% (2% /)$9.(,01#95
$1&(91-$+$.%01%�'.+$1%79-%&,1%(&&9+%01 7,1.)%-$1.%-(%7$%5(+$%)9/$+6&0,'<%X')(C%01 01% /,-0$1-)% A0-#% 2,&-0-0,'% .0)$,)$<% Q(13
5$1-,''*%0''%,.9'-)<!%a$&,9)$%(2%)(2-3-0))9$ /)$9.(,01#95% -#$+$% 5,*% 7$% #0)-('(40& -+('% (2% -#$% 91.$+'*014% .0)$,)$% /+(&$))
)A$''014C% -#$% '04,-014% 7,1.% 5,*% 1(-% 7$ &'9$)% -(% -#$% ,))(&0,-$.% .0)(+.$+C% )9&#% ,) 5,*%.$',*%/+(4+$))0(1%(+%/+$8$1-%+$&9+3
80)07'$%,1.%-#$%-+9$%&,9)$%(2%-#$%&(1.0-0(1 .$+5,-(/#*-()0)C% 2(+$041% 7(.0$)C% (+% .0)3 +$1&$%01%/)$9.(,01#95%(2%-#$%,&R90+$.
5,*%1(-%7$%055$.0,-$'*%+$&(410F$.<! -01&-%/,--$+1)%(2%@$+,-010F,-0(1< -*/$<
X&R90+$.%&(1)-+0&-014%7,1.)%,+$%,))(&03
,-$.% A0-#% ,% 8,+0$-*% (2% 5$.0&,'% ,1.% .$+3
5,-('(40&% &(1.0-0(1)<% B1% 4$1$+,'C% /)$93 .$+2-".,)"$/# n&`'%&(&%&/.&#
.(,01#95% 0)% 5(+$% '0@$'*% -(% 018('8$% ,1* "#$% &(1)-+0&-014% 7,1.)% (2% 7(-#% ,01#95
(2%-#$%-($)%(+%$8$1%-#$%#,1.)<%B1%�'.+$1C ,1.% /)$9.(,01#95% 9'-05,-$'*% /+(.9&$ )<F'J7BB'?FJF?F8=F'B9E:'J6?'>BB'=<>I:F?E'
A#$1%&#+(10&%.$+5,-(/#*-$%012$&-0(1%0) ,%.,14'014C%-A0)-$.%.040-C%A#0&#%&,1%7$3 9E'>Q>9B>LBF'>:'ZZZD@9HGOD=6GD
0.$1-06$.% ,1.% ,//+(/+0,-$'*% -+$,-$.C &(5$%4,14+$1(9)%(+%012$&-$.<%e#$1%-#0)
=< Q,+8,'#(%`%$-%,'j%X01#95%G.,&-*'('*)0)
&(5/'$-$% +$8$+),'% (2% -#$% &(1)-+0&-0(1 -$19(9)% &(11$&-0(1% '$,.)% -(% 1$&+()0)C
)/(1-,1$,Jj% X% &,)$% +$/(+-<% 2..A! 3&E+1
5,*% (&&9+<% O$8$+$% #*/$+@$+,-()0)% ,)% (&3 ,9-(,5/9-,-0(1%(&&9+)< 9j=D!C%LEEE
&9+)% 01% W(#A01@$'% )*1.+(5$% (+% @$+,-(3 L< a+(A1$%OPj%"+9$%,01#95j%B-)%.0)-01&-08$
.$+5,%#$+$.0-,+095%59-0',1)%5,*%)#(A ,1.% .022$+$1-0,-014% 2$,-9+$)<% M! :.&1! M.%&A
&(1)-+0&-014% 7,1.)% .9$% -(% /,'5,+% ,1. 2%$A/$#"#',/!' JD*0!:* 67jMLC%=!IM
/',1-,+% #*/$+@$+,-()$)% ,)% A$''% ,)% )-,+3 .-"/".,-'.$1%#& ?< ]$1-%]U%$-%,'j%X01#95%,1.%,140(.*)3
/',)0,< >$&"1A 0jN!IC%=!D=
6)#3'0@$% ,1.% '01$,+% @$+,-()$)% G)$$% Q#,/< ]0)$,)$)% &,9)$.% 7*% &(1)-+0&-014% 7,1.) M< U&b,9+01% QBj% d)(+0,)0)% /+$)$1-014% A0-#
?DJ<% d)$9.(,01#95% 5,*% (&&9+% 01% )$8$+$ /+(&$$.%)'(A'*%,1.%(2-$1%/,0129''*%(8$+ /)$9.(,01#95< M! 3/! 3"$H! G1*/$A.+
/)(+0,)0)%(2%-#$%.040-)%GH04<%II3NJ< 5,1*% *$,+)C% $8$1-9,-014% 01% ,9-(,5/93 7j=NLC%=!DL
I< X'5(1.% Ob% $-% ,'j% Q,)$% +$/(+-j% d)$9.(3
"#$%/,-#('(4*%(2%,01#95%,1.%/)$9.(3 -,-0(1%01%)$8$+$%&,)$)<
,01#95%01%&#+(10&%/)(+0,)0)<%:*!M!G1*/$,
,01#95%0)%)050',+C%A0-#%-#$%/+$)$1&$%(2%63 A.+ 365j=EI?C%LEEN
7+(-0&% 7,1.)% +$)$57'014% )&,+% -0))9$<% "#$ K< f$+#0)10@%ej%"#$%)9+40&,'%/,-#('(4*%(2
7,1.)%01%,01#95%9)9,''*%$;-$1.%.$$/%01-( )%&,)+&/) ,01#95% G.,&-*'('*)0)% )/(1-,1$,J<% M! 2..A
-#$%)97&9-,1$(9)%',*$+)%,1.%5,*%05/014$ O9+4$+*%0)%-#$%5,01)-,*%(2%-#$+,/*C%,1. JD*0 08j!MC%=!DI
=E< d0&@9)% \o% $-% ,'j% ]040-,'% &(1)-+0&-0(1
(1%91.$+'*014%)@$'$-,'%,1.%8,)&9',+%)-+9&3 $,+'*%01-$+8$1-0(1%0)%05/(+-,1-<%B1%5()- 7,1.)% 01% /)$9.(,01#95j% U(+/#('(403
-9+$)<%B1%,..0-0(1C%5(.$+,-$%01^,55,-0(1 &,)$)% (2% ,01#95C% /+(5/-% ,5/9-,-0(1 &,'C%+,.0(4+,/#0&C%,1.%#0)-('(40&,'%,1,'*3
,1.% $/0.$+5,'% (+% 8$++9&(9)% #*/$+/',)0, 5,*% ,''(A% -#$% /,-0$1-% -(% $)&,/$% /,01 )0)< 3&&!;+$'A!JD*0 67j=!?C%LEE=
!AG
.*,2)&%'3O !"#$%&'.)(
3&WL%)"K'8")-*)0$%#+'@")E0$*C%C
,.r1"%&!
H1`704)5,R)49%4'/0*(,
!9JJF?F8:'F8:9:9FE'6?'68F'?F>=:968'I>::F?8t
nN?BF'@9EF>EF
2&%($%,)"/A
;0.%45)4.
2F?J6?>:98H'J6BB9=7B9:9E
%F>=:9QF'IF?J6?>:98H'=6BB>HF86E9E
!"#$%!&%#
+>?Y'-FLZ6<B
,=^79?F@'IF?J6?>:98H'@F?G>:6E9E
,)','A-,/.&'
4$+%(2%/$+2(+,-014%.0)(+.$+)C%,'-#(94#%-#$
,.r1"%&!'2&%($%,)"/A' 5('$&9',+% 7,)0)% -(% $;/',01% -#$% .$8$'(/3
!"#$%!&%#c',/'$0&%0"&q' 5$1-%(2%'$)0(1)%,2-$+%-+,95,%0)%91&'$,+<
U,1*% /,-0$1-)% $;#070-% -#$% f($71$+
X&R90+$.% /$+2(+,-014% .0)(+.$+)% &(1)0)- /#$1(5$1(1C% ,1.% '$)0(1)% &,1% 7$% /+(3
(2%,%4+(9/%(2%&(1.0-0(1)%-#,-%)#,+$%)(5$ .9&$.% $;/$+05$1-,''*% 7*% -+,95,-0F014
&'010&,'% ,1.% #0)-('(40&% 2$,-9+$)<% X''% ,+$ -#$%)@01=E%,1.%,2-$+%',)$+%#,0+%+$5(8,'<==
&#,+,&-$+0F$.% 7*% -#$% -+,1)$/0.$+5,' ,=^79?F@'IF?J6?>:98H'@9E6?@F?E'=68E9E:'6J'
Y-#$+% +$/(+-$.% -+044$+)% (2% /$+2(+,-014 >'H?67I'6J'?>?F'=68@9:968E'=<>?>=:F?9\F@'
$;-+9)0(1% (2% .$+5,'% 5,-$+0,'C% A#0&# .0)(+.$+)%#,8$%7$$1%$'$8,-$.%/',)5,%)0'3
&'010&,''*% /+$)$1-)% ,)% 9570'0&,-$.% )@013 LN':?>8EFI9:<FB9>B'FB9G98>:968'6J'@F?G>B'
0&(1%01%/,-0$1-)%(1%.0,'*)0)C=L%80-,501%X G>:F?9>BD'q9:<':<F'FM=FI:968'6J'FB>E:6E9E'
&('(+$. /,/9'$)% A0-#% ,% &$1-+,'% A#0-$ .$6&0$1&*=NC=?%(+%$;&$))C=M%,1.%),'-A,-$+
&+9)-<% "#$% -$+5%B1*-.*$A%&0!H%'.*H1*! .-! *1, IF?J6?>8E'EF?I9H986E>'R&2#VU':<F?F'9E'=68;
&#$50&,'% 79+1)<=I% \80.$1&$% )9//(+-)% ,1 E9@F?>LBF'6QF?B>I'>G68H':<F'@9E6?@F?EU'
&$+!H%'1$'1%#,)%7$$1%,//'0$.%-(%-#$)$%.0)3 91.$+'*014% .$+5,'% 50&+(8,)&9'(/,-#*
(+.$+)C% A0-#% -#$% $;&$/-0(1% (2% $',)-()0) BF>@98H'E6GF'>7:<6?E':6'=>BB':<F'H?67I'
01% )(5$% /,-0$1-)=K% ,1.% ,7$++,1-% $/0.$+3 J,).*)$/%&+!F%'*)F,)'!*.!F%$:,/,'!$&F!
/$+2(+,1)% )$+/0401(),% G\dOJC% A#0&#% 0) 5,'%504+,-0(1%01%(-#$+)<=D
&'010&,''*%,1.%#0)-('(40&,''*%910R9$< ),&$9!F%',$',D
a,)$.% (1% '04#-% ,1.% $'$&-+(1% 50&+(3
)&(/0&% $;,501,-0(1% (2% 70(/)0$)C% ,1% ,73 .<?689='I?7?9:9='=68@9:968E':?9HHF?F@'LN'
1(+5,'% #$,'014% +$)/(1)$% ,2-$+% $;&(+0,3 :?>7G>D
,=^79?F@'2F?J6?>:98H'!F?G>:6E9E 1GL9B9=>:F@'I>I7BFE'Z9:<'=F8:?>B'Z<9:FU'
-0(1% #,)% 7$$1% .$)&+07$.C% 01% A#0&#% -#$
f*+'$% .0)$,)$C% /$+2(+,-014% 2(''0&9'0-0)C% +$3 +$4$1$+,-014% $/0.$+50)% 2(+5)% $/0.$+3 YF?>:6:9='=?7E:Ea'BFE968E':F8@':6'LF'EF?;
,&-08$% /$+2(+,-014% &('',4$1()0)C% ,1.% ,&3 5,'% -911$')% -#+(94#% A#0&#% -#$% &$1-+,' I9H9867E'98'&2#D
R90+$.%/$+2(+,-014%.$+5,-()0)%#,8$%7$$1 1$&+(-0&% 5,))% ,1.% 0-)% ,))(&0,-$.% &('3 &2#'9E'>EE6=9>:F@'Z9:<'98<F?9:F@'@9E6?@F?E'
+$/(+-$.% 01.$/$1.$1-'*% (2% (1$% ,1(-#$+ ',4$1% 791.'$)% ,+$% '02-$.<=!% "#$% .$5(13 6J'=688F=:9QF':9EE7F'>8@'6==7?E'98'
A0-#% .022$+014% #0)-('(40$)% ,1.C% ,-% -05$)C )-+,-0(1%(2%-*/$%BW%&('',4$1%A0-#01%$'053 I>:9F8:E':?F>:F@'Z9:<'!;IF89=9BB>G98Fa'
.022$+014% &'010&,'% ,))(&0,-0(1)<% "#$% /+03 01,-$.% 5,-$+0,'% )944$)-)% $;-+9)0(1% (2 6:<F?'IF?J6?>:98H'@9E6?@F?E'>?F'>EE6=9>:F@'
5,+*% '$)0(1% 01% ,''% (2% -#$)$% &(1.0-0(1)% 0) 7,)$5$1-%5$57+,1$%01%-#0)%/+(&$))<LE Z9:<'@9>LF:FE'GFBB9:7E'>8@'?F8>B'J>9B7?FD
,1%9570'0&,-$.%/,/9'$%A0-#%,%&$1-+,'%#*3
*9E:6B6H9=>BBNU':<F'>=^79?F@'IF?J6?>:98H'
/$+@$+,-(-0&% &+9)-<% X''% (2% -#$% &(1.0-0(1) $S=M=$HS,2=M;=M>K H04<% IK3=% )#(A)% -#$ @9E6?@F?E'>?F'=<>?>=:F?9\F@'LN'98Q>H98>;
#,8$%7$$1%,))(&0,-$.%A0-#%.0,7$-$)%(+%+$3 ,//+(,&#%-(%-#$%/,-0$1-%A0-#%/$+2(+,-014 :968'6J':<F'FI9@F?G9E'Z9:<'FM:?7E968'6J'
1,'% 2,0'9+$% ,1.% A0-#% -#$% f($71$+% /#$3 .0)$,)$)< @F?G>B'G>:F?9>B':<?67H<':<F'=7I;E<>IF@'
1(5$1(1<% X''% #,8$% /$+2(+,-0(1% (2% -#$
FI9@F?G>B'@FI?FEE968D'(6BB9=7B>?'IF?J6?>;
$/0.$+50)% 01% &(55(1C% $0-#$+% 7*% .$4$13 .*$1'%#*/(D%/&#'/, "#$% ,&R90+$.% /$+2(3 :968'>8@'I?FEF8=F'6J'=6BB>HF8'L78@BFE'6?'
$+,-$.% &(11$&-08$% -0))9$% -#,-% 0)% $'0503 +,-014%.0)(+.$+)%,+$%&#,+,&-$+0F$.%7*%953 FB>E:9='KLF?E'98':<F'IF?J6?>:98H'G>:F?9>B'
1,-$.%-#+(94#%-#$%$/0.$+50)%G01)0.$%(9-J 70'0&,-$.% /,/9'$)% A0-#% &$1-+,'% A#0-$C @9E:98H79E<FE'IF?J6?>:98H'J6BB9=7B9:9EU'?F>=;
(+% #*/$+@$+,-(-0&% 5,-$+0,'% -#,-% /$1$3 @$+,-(-0&% &+9)-)% GH04<% IK3LJ<% b$)0(1)% &,1 :9QF'IF?J6?>:98H'=6BB>HF86E9EU'>8@'&2#'
-+,-$)%01-(%-#$%.$+50)%G(9-)0.$%01J<%B1%(1$ 7$&(5$%R90-$%#*/$+@$+,-(-0&%,1.%&,1%+$3 J?6G'68F'>86:<F?D
)-9.*C% I% (2% MM% &#+(10&% .0,'*)0)% /,-0$1-) )$57'$% /+9+04(% 1(.9',+0)% GH04<% IK3NJ<% b$3
#,.% +$,&-08$% /$+2(+,-014% &('',4$1()0)<= )0(1)% 5()-% (2-$1% .$8$'(/% (1% -#$% ,+5)
h0)-('(40&,''*C% /$+2(+,-014% &('',4$1% 7913 ,1.% '$4)C% 79-% ,1*% )0-$% (1% -#$% &9-,1$(9) ,')(% 7$$1% .$)&+07$.% 01% *(914% )07'014)
.'$)%,+$%-#$%#,''5,+@%(2%+$,&-08$%/$+2(+,-3 )9+2,&$% &,1% 7$% ,22$&-$.C% 01&'9.014% -#$ A0-#(9-%.0,7$-$)%(+%@0.1$*%.0)$,)$<LL%X)3
014% &('',4$1()0)C% 79-% -#$)$% #,8$% 7$$1 -+91@%,1.%)&,'/<%b$)0(1)%#,8$%$8$1%7$$1 )(&0,-0(1)% A0-#% #*/$+/,+,-#*+(0.0)5C
.$5(1)-+,-$.% 01% /,-0$1-)% -#(94#-% -( .$)&+07$.%(1% -#$% &(1:91&-08,% ,1.%79&&,' #*/(-#*+(0.0)5C%,1.%'08$+%.0)(+.$+)CLN%,)
#,8$%f*+'$%.0)$,)$%(+%/$+2(+,-014%2(''0&93 59&(),%(2%,%/,-0$1-%A0-#%f*+'$%.0)$,)$<L= A$''% ,)% #95,1% 05591(.$6&0$1&*% 80+9)
'0-0)% ,)% A$''<% Q(1)$R9$1-'*C% ,)% '(14% ,) W0+-9,''*% ,''% /,-0$1-)% &(5/',01% (2% /+9+03 012$&-0(1CL?% /9'5(1,+*% 67+()0)CLM% d(',1.
5(+$% 0)% '$,+1$.% ,7(9-% -#$% /,-#(4$1$)0)C -9)C%,1.%)&+,-%&,1%'$,.%-(%,%f($71$+ )*1.+(5$CLI%h(.4@01%.0)$,)$CLK%,1.% /+03
)(5$% ,9-#(+)% /+$2$+% -(% &(1)0.$+% -#$5 /#$1(5$1(1% A0-#% '01$,+% 9570'0&,-$. 5,+*% )&'$+()014% &#(',140-0)CLDCL!% #,8$
91.$+%-#$%-$+5%$"UD%*1H!B1*-.*$A%&0!H1*/$, /,/9'$)%,+0)014%01%$;&(+0,-$.%)@01< ,')(%7$$1%+$/(+-$.C%79-%-#$)$%5,*%7$%&(3
A.'%'%G",7'$%IK3=J< 01&0.$1-,'<%"#$+$%#,8$%7$$1%)$8$+,'%&,)$)
7%41$%2(!@;/&+14(A&'2&'6/, B1% -#$% (+0401,' (2%,&R90+$.%/$+2(+,-014%.0)(+.$+%+$/(+-$.
O=KNP@L .$)&+0/-0(1% (2% +$,&-08$% /$+2(+,-014% &('3 01% /,-0$1-)% A0-#% )&,70$)<NE% "#0)% ,))(&0,3
',4$1()0)C%+$1,'%2,0'9+$%,1.%.0,7$-$)%A$+$ -0(1% #,)% 7$$1% ,--+079-$.% -(% @($71$+0F,3
-N=PSP>L,HM;,RHNOP>-M-K=K b0--'$% #,) 1(-% #04#'04#-$.<!% `$8$+-#$'$))C% 5()-% ,&3 -0(1%,))(&0,-$.%A0-#%)&+,-<
7$$1%.(1$%-(%$'9&0.,-$%-#$%5$&#,10)5%7* R90+$.% /$+2(+,-014% .0)(+.$+)% ,+$% )$$1% 01
A#0&#%/$+2(+,-014%.0)(+.$+)%(&&9+<%h(A3 ,))(&0,-0(1% A0-#% @0.1$*% 2,0'9+$C% .0,7$3 =&/$#51$@#4#6;, h0)-('(40&,''*C% -#$% ,&3
!AT $8$+C%0-%0)%&'$,+%-#,-%-+,95,%0)%,%5,:(+%-+043 -$)C%(+%7(-#<%h(A$8$+C%f*+'$%.0)$,)$%#,) R90+$.%/$+2(+,-014%.0)(+.$+)%,+$%&#,+,&-$+3
-&!./%.0.,U)49%4!*.,.)4U0(0*%.! P/:)4 !1`704)5,U)49%4!/0*(,50.)!.).
].>+534/'*5 ",*1'53&C+5-&**2+Z'3,+5*&41+6)4-05*Y+
ch!Y+-&*.3'2'2*
2=>?@-,A#B" ,II?6>=<':6':<F'I>:9F8:'Z9:<'IF?J6?>:98H'@9EF>EFED'W1/'j'LB66@'7?F>'89:?6HF8a'210,'j'IE6?>BF8'>8@'7B:?>Q96BF:','B9H<:a'10W'j'7B:?>Q96BF:'WD
0F$.%7*%018,401,-0(1%(2%-#$%$/0.$+50)%A0-#
$;-+9)0(1% (2% .$+5,'% 5,-$+0,'% -#+(94#% -#$
&9/3)#,/$.%$/0.$+5,'%.$/+$))0(1%01-(%-#$
1$&+(-0&%7,)(/#0'0&%-0))9$%A0-#01%-#$%018,43
01,-$.% $/0.$+50)<% B1% -#$% /,)-C% ,--$5/-)
A$+$% 5,.$% -(% .022$+$1-0,-$% ,5(14% /$+2(3
+,-014% 2(''0&9'0-0)C% +$,&-08$% /$+2(+,-014% &('3
',4$1()0)C%,1.%f*+'$%.0)$,)$%7,)$.%(1%-#$
2=>?@-,A#BD ,=^79?F@' IF?; 1,-9+$%(2%-#$%/$+2(+,-014%5,-$+0,'<%B1%+$,&3
J6?>:98H'@F?G>:6E9ED'1GL9B9=>:F@U -08$%/$+2(+,-014%&('',4$1()0)C%&('',4$1%7913
YF?>:6:9='I>I7BFE'68':<F'>?G'6J'> .'$)%/$+2(+,-$%-#+(94#%-#$%$/0.$+50)%GH04<
I>:9F8:' Z9:<' @9>LF:FE' >8@' ?F8>B IK3?JC% 01% &(1-+,)-% -(% ,5(+/#(9)% .$+5,'
J>9B7?FD 5,-$+0,'% ,1.k(+% @$+,-01% -#,-% /$+2(+,-$)
-#+(94#% -#$% $/0.$+50)% 01% f*+'$% .0)$,)$<
d$+2(+,-014%2(''0&9'0-0)%0)%&#,+,&-$+0F$.%#0)3
-('(40&,''*%7*%2(''0&9',+%/$+2(+,-0(1<
B1%/$+2(+,-014%2(''0&9'0-0)C%-#$+$%0)%,%2(3
&,'% 01^,55,-(+*% 016'-+,-$% ,.:,&$1-% -(
,+$,)%(2%/$+2(+,-0(1%(2%-#$%2(''0&9',+%$/03
-#$'095<% ]$4$1$+,-014% &('',4$1% ,1.% $;3
-+,&$''9',+%5,-+0;%-0))9$)%50;$.%A0-#%013
^,55,-(+*%&$'')%,1.%(+-#(@$+,-(-0&%,1.
/,+,@$+,-(-0&% 5,-$+0,'% 6''% -#$% .0',-$.
#,0+%2(''0&'$<%Y&&,)0(1,''*C%,%#,0+%0)%)$$1<
Y1$%,9-#(+%)944$)-$.%-#,-%'$)0(1)%7$401
2=>?@-,A#BG q>?:N' >8@ ,)% 2(''0&9',+% /9)-9'$)% ,1.% .$8$'(/% 01-(
=?>:F?;B9YF'<NIF?YF?>:6EFE'68':<F /$+2(+,-014% 2(''0&9'0-0)% ,1.C% 9'-05,-$'*C
J66:'6J'>'L6N'Z9:<'nN?BF'@9EF>EFD 01-(%/+9+04(%1(.9',+0)<N= !A!
(2% $',)-0&% 67$+)<% "#$% .0)-01&-08$% '$)0(1)
,+$%)$+/0401(9)%01%.0)-+079-0(1%,1.%&,1%7$
,))(&0,-$.%A0-#%)/$&06&%.0)$,)$)<
O=KNP@L
-N=PSP>L,HM;,RHNOP>-M-K=K ]3/$10&0'3
',501$%,//$,+)%-(%7$%,%&'$,+%-+044$+%2(+
\dO<%X'-$+,-0(1)%(2%$',)-0&%67$+)%#,8$%7$$1
.$)&+07$.%01%/,-0$1-)%A0-#%/$10&0'',501$3
01.9&$.%\dOC%,1.%-#0)%&(1.0-0(1%#,)%9)93
,''*%(&&9++$.%,2-$+%'(143-$+5%-#$+,/*%(2
2=>?@-,A#BT %F>=:9QF'IF?J6?>:98H'=6BB>HF86; e0')(1%.0)$,)$N?%(+%&*)-019+0,<%\dO%#,)
E9ED'.6BB>HF8'L78@BFE'=>8'LF'EFF8'=?6EE98H'J?6G ,')(%7$$1%+$/(+-$.%01%,%�'.%-+$,-$.%A0-#
:<F'?F:9=7B>?'@F?G9E':<?67H<':<F'FI9@F?G9E'98:6'>8 ]3/$10&0'',501$%2(+%:98$10'$%+#$95,-(0.
FI9@F?G>B'@FI?FEE968'=68:>9898H'8F=?6:9='@FL?9ED ,+-#+0-0)<NM%X71(+5,'%$',)-0&%67$+)%#,8$
R*FG>:6MNB98'>8@'F6E98'E:>98DV 7$$1%2(91.%01%-#$%'914)%,)%A$''%,)%-#$%)@01
(2%/$10&0'',501$3-+$,-$.%/,-0$1-)<NI%X73
U(+$%.$-,0'$.%#0)-('(40&%.$)&+0/-0(1)%(2 1(+5,'0-0$)%(2%&('',4$1%#,8$%,')(%7$$1%.$3
f*+'$% .0)$,)$LL% +$/(+-% ,1% 018,401,-0(1% (2 )&+07$.%01%/,-0$1-)%A0-#%\dO<NKCND%"#$%/+$3
-#$%$/0.$+50)%-#,-%0)%6''$.%A0-#%,%@$+,-(-0& &0)$%5$&#,10)5%7*%A#0&#%/$10&0'',501$
/'94% &(1-,01014% ,% /,+,@$+,-(-0&% &('951 01.9&$)%\dO%0)%1(-%$1-0+$'*%@1(A1C%79-%-#$ 2=>?@-,A#BA &B>E:6E9E' IF?J6?>8E' EF?I9H9;
GH04<%IK3MJ<%e0-#01%-#$%$/0.$+5,'%018,401,3 .+94%&#$',-$)%&(//$+C%-#$%&(32,&-(+%2(+%'*3 86E>D'&?N:<FG>:67EU'<NIF?YF?>:6:9='I>I7BFE'98'>
-0(1C% -#$+$% 0)% ,% 2(&9)% (2% 8,&9(',-$.% .*)3 )*'%(;0.,)$C%A#0&#%0)%-#$%$1F*5$%-#,- EF?I9H9867E'@9E:?9L7:968'68':<F'>?GD
@$+,-(-0&%&$'')C%A#0&#%$;-$1.)%-(%-#$%7,),' &+())3'01@)%$',)-01<
&$''% ',*$+% ,1.% $8$1-9,''*% /$1$-+,-$)% 01-( X'-#(94#%5()-%&,)$)%,+$%)/(+,.0&C%2,50'3 $'0501,-0(1% (2% $',)-0&% 67$+)<% "*/0&,'
-#$%.$+50)C%'$,8014%2+,45$1-)%(2%/,+,@$+,3 0,'% &,)$)% (2% \dO% #,8$% 7$$1% +$/(+-$.% A0-# &#,14$)%&,1%7$%0.$1-06$.%,1.%&(1)0)-%(2
-(-0&% @$+,-01% 01% -#$% .$+50)% A0-#% ,% )9+3 .022$+$1-% 5(.$)% (2% 01#$+0-,1&$<% B1% ,-% '$,)- ,1% 01^,55,-(+*% +$)/(1)$% ,+(91.% ,73
+(91.014% 01^,55,-(+*% ,1.% 4+,19'(5,3 (1$% 2,50'*C% ,9-()(5,'% .(501,1-% 01#$+03 1(+5,'% $',)-0&% -0))9$% 01% -#$% /,/0'',+*
-(9)% +$,&-0(1% G)$$% H04<% IK3MJ<% O97)$R9$1- -,1&$%A0-#%8,+0,7'$%$;/+$))0(1%(2%\dO%A,) .$+50)<% "#$% $',)-0&% -0))9$% /$1$-+,-$)
)-9.0$)% 9)014% U,))(1% -+0&#+(5$% )-,01) )944$)-$.<N!%O$8$+,'%01#$+0-$.%.0)(+.$+)%(2 -#+(94#% &#,11$')% 01% -#$% ,&,1-#(-0&% $/03
#,8$% 2(91.% 791.'$)% (2% &('',4$1% /$+2(+,-3 &(11$&-08$% -0))9$% #,8$% ,')(% 7$$1% ,))(&03 .$+50)<%"#$%&#,11$')%5,*%7$%)-+,04#-%(+
014%-#+(94#%-#$%$/0.$+50)%01-(%-#$%7,)$%(2 ,-$.%A0-#%\dO%G)$$%Q#,/<%=N!JC%)944$)-014 -(+-9(9)C%,1.%-#$+$%5,*%7$%59'-019&'$3
-#$% 018,401,-0(1C% )944$)-014% ,1% (8$+',/ -#,-%8,+0(9)%/,-#A,*)%&,1%'$,.%-(%-#$%,73 ,-$.% 40,1-% &$'')% 01% -#$% )9++(91.014% 013
A0-#%+$,&-08$%/$+2(+,-014%&('',4$1()0)< 1(+5,'%$',)-01%-#,-%+$)9'-)%01%-#0)%&(1.0-0(1< ^,55,-(+*% 016'-+,-$<% B1% ,..0-0(1% -(
$',)-0&% -0))9$C% -#$% &#,11$')% &(1-,01
$?NHM-P?K,S-K=PMK O@01% '$)0(1)% &(1)0)- 1$&+(70(-0&% 5,-$+0,'% A0-#% .$4$1$+,-$.
&B>E:6E9E'2F?J6?>8E'#F?I9H986E>
(2%#*/$+@$+,-(-0&%/,/9'$)%+,14014%2+(5%L $/0-#$'0,'% &$'')% ,1.% /,+,@$+,-(-0&% 19&'$0
\dO%0)%,%910R9$%/$+2(+,-014%.0)(+.$+%&#,+3 55%-(%=%&5%01%.0,5$-$+%01%,%)$+/0401(9) (2% 01^,55,-(+*% &$'')<% "#$% -(/% (2% -#$
,&-$+0F$.% 7*% -+,1)$/0.$+5,'% $'0501,-0(1 .0)-+079-0(1%GH04<%IK3IJ<%O@01%A0-#01%-#$)$ $/0.$+5,'% &#,11$')% 0)% ,')(% 6''$.% A0-#
)$+/0401(9)% ,+&)% 0)% (2-$1% ,-+(/#0&<% "#$ @$+,-(-0&%5,-$+0,'<
5()-%&(55(1%)0-$%(2%018('8$5$1-%0)%-#$
1$&@%G)$$%$H04<%IK3I<=%01%(13'01$%$.0-0(1JC
79-%'$)0(1)%&,1%,')(%(&&9+%(1%-#$%$;-+$503 !"((&%&/)",-'!",A/$#"# GO$$
-0$)% ,1.C% 5(+$% +,+$'*C% (1% -#$% -+91@<% B1 a(;%IK3=J
+,+$% 01)-,1&$)C% $',)-0&% -0))9$% 01% -#$% $13 "#$%(1$%$1-0-*%$,)0'*%&(129)$.%A0-#%/$+3
.(&,+.095C%7+(1�(',+% A,'')C% ,1.% ,+-$+3 2(+,-014% .0)$,)$)% 0)% /+9+04(% 1(.9',+0)<
0$)%0)%018('8$.<%V9/-9+$%(2%-#$%,(+-,%#,) Y-#$+% /$+2(+,-014% .0)(+.$+)C% )9&#% ,)% /$+3
7$$1%+$/(+-$.<?E 2(+,-014%/)$9.(;,1-#(5,%$',)-0&95%GdS\J
,1.% /$+2(+,-014% 4+,19'(5,% ,119',+$C% ,+$
@-SHN-;,ROLK=$HS,2=M;=M>K \dO% 0)
$,)0'*% .0)-01490)#$.% 2+(5% -#$% ,&R90+$.
,))(&0,-$.%A0-#%195$+(9)%01#$+0-$.%.0)3
/$+2(+,-014%.0)(+.$+)%7*%)@01%70(/)*<
(+.$+)C% 01&'9.014% ()-$(4$1$)0)% 05/$+3
2$&-,C?=% &9-0)% ',;,C?L% ,&+(4$+0,C?N% \#'$+)3
],1'()% )*1.+(5$C% U,+2,1% )*1.+(5$C #12&'.)(
V(-#591.3"#(5)(1% )*1.+(5$C??% ,1. @%--")"#$%0/'@%0+#*C%C'*-'3&WL%)"K'
](A1%)*1.+(5$<?M%\dO%#,)%7$$1%+$/(+-$. 8")-*)0$%#+'@%C*)K")C
01% ,))(&0,-0(1% A0-#% ,.5010)-+,-0(1% (2% ]3 2F?J6?>:98H'IEF7@6M>8:<6G>'FB>E:9=7G
/$10&0'',501$%-(%-+$,-%e0')(1%.0)$,)$%G)$$ 2?7?9H6'86@7B>?9E
$H04<%IK3I<L%01%(13'01$%$.0-0(1J?I%,1.%A0-# &M=6?9>:F@'@F?G>B'@9EF>EFE'RFDHDU'H?>87;
2=>?@-,A#B! nN?BF' @9EF>EFD' )<F?F' 9E' G>E; &(3$;0)-014% ,&R90+$.% &9-0)% ',;,% ,2-$+% ]3
E9QF' <NIF?YF?>:6E9E' Z9:<' >' =F8:?>B' I>?>YF?>:6:9= B6G>'>887B>?FU'B9=<F8'IB>87EV
/$10&0'',501$%-#$+,/*%(2%&*)-019+0,<?K
=6B7G8'>:':<F'L>EF'6J':<9E'=6B7G8D'"8@9Q9@7>B'R>I; *NIF?YF?>:6E9E'J6BB9=7B>?9E'IF?E:>8E'R(BFHFB'
@9EF>EFV
6I:6:9=V'=FBB'YF?>:989\>:968'=>8'LF'J6BB6ZF@'@6Z8 O=KNPRHNOPSP>L h0)-('(40&,''*C% '$)0(1)
,=^79?F@'IF?J6?>:98H'@F?G>:6E9E
!AA :6':<F'L>E>B'@F?G>B'FI9@F?G>B'd78=:968D ,+$% &#,+,&-$+0F$.% 7*% -+,1)$/0.$+5,'
#12&'.)* /(+-)% (2% )9&&$))29'% -#$+,/*% 9)014% -(/0&,'
+$-01(0.)CMN>MM% (+,'% +$-01(0.)C=?CMICMK% (+,'
6)"0$E"#$'-*)'3&WL%)"K'8")-*)0$%#+'@%C*)K")C
,1-070(-0&)% G.(;*&*&'01$MDCM!% ,1.% &'01.,3
NPR=$HS ROLK=$HS KLKN-8=$ 5*&01IEJC% ,1.% ,''(/9+01('CI=>I?% -#$)$% ,+$
(9?E:'B98F .6?:9=6E:F?69@E W?6>@L>8@'7B:?>Q96BF:'W ,=9:?F:98U'_P'GH'@>9BN 1(-% 9)9,''*% $22$&-08$<% d#(-(-#$+,/*% A0-#
/>??6ZL>8@'7B:?>Q96BF:'W "E6:?F:98698U'4'GH[YH'98':Z6'@9Q9@F@' 1,++(A7,1.%9'-+,80('$-%a%GgWaJ%(+%7+(,.3
@6EFE'@>9BN 7,1.% gWa% &,1% +$)9'-% 01% )97)-,1-0,'% 053
#F=68@ %F:9869@E 2E6?>BF8'>8@'7B:?>Q96BF:',' !6MN=N=B98FU'4PPkiPP'GH'@>9BN'98' /+(8$5$1-C?ECIM>ID%79-%0)%1(-%,)%+$'0,7'*%$23
B98F B9H<: :Z6'@9Q9@F@'@6EFEa'>BB6I7?986BU'4PP' 2$&-08$% ,)% /#(-(-#$+,/*% 2(+% 9+$50&
#7?H9=>B'?FG6Q>B'=6GL98F@' GH'@>9BN /+9+0-9)<%gW%'04#-%-+$,-5$1-C%02%)9&&$))29'C
Z9:<'6?>B'=B98@>GN=98 -$1.)% -(% +$R90+$% )$))0(1)% -A(% -(% -#+$$
-05$)%/$+%A$$@%A0-#%=E%-(%=M%$;/()9+$)
2(+%&'$,+,1&$<%U,1*%(2%-#$%-+$,-5$1-)%-#,-
\dO%0)%$,)0'*%.0)-01490)#$.%2+(5%(-#$+ -0))9$<%"#$+$%#,8$C%#(A$8$+C%7$$1%&,)$) #,8$% 7$$1% ,//'0$.% -(% -#$% (-#$+% /$+2(+,-3
/$+2(+,-014% .0)(+.$+)% A#$1% &#,+,&-$+0)3 (2% dS\% A0-#% )$+/0401(9)% /$+2(+,-014 014%.0)(+.$+)%#,8$%,')(%7$$1%9)$.%2(+%\dO<
-0&% )$+/0401(9)% '$)0(1)% ,+$% /+$)$1-% G01 /,/9'$)% &(1-,01014% &,'&06$.% $',)-0&% 63 B)(-+$-01(01I!% ,1.% .$)-+9&-08$% 5(.,'0-0$)C
&(1-+,)-%-(%01.080.9,'%/,/9'$)%01%-#$%',-3 7$+)C%-#9)%)059',-014%\dO<%"#$%'$)0(1)%(2 )9&#% ,)% &+*(-#$+,/*KE% ,1.% ',)$+)C% #,8$
-$+J%,1.%7*%-#$%61.014%(2%$',)-0&%67$+)%01 /$+2(+,-014%4+,19'(5,%,119',+$%&,1%,')( ,')(%7$$1%9)$.%$22$&-08$'*%2(+%\dO<K=CKL
-#$% /$+2(+,-014% -0))9$% (1% #0)-('(4*<% B1 )059',-$% ,&R90+$.% 4+,19'(5,% ,119',+$C
&(1-+,)-%-(%-#$%(-#$+%/$+2(+,-014%.$+5,3 79-% (1% 70(/)*C% /,'0),.014% 4+,19'(5,)
-()$)C%A#0&#%,+$%9)9,''*%,))(&0,-$.%A0-# ,+$% )$$1% G)$$% Q#,/<% ?NJ<% H'$4$'% .0)$,)$ n&`'%&(&%&/.&#
.0,7$-$)%(+%+$1,'%2,0'9+$C%\dO%#,)%,1%$13 G#*/$+@$+,-()0)% 2(''0&9',+0)% /$+)-,1)JC% ,
-0+$'*%.022$+$1-%4+(9/%(2%.0)$,)$%,))(&0,3 +,+$%,9-()(5,'%.(501,1-%4$1(.$+5,-(3
)<F'J7BB'?FJF?F8=F'B9E:'J6?'>BB'=<>I:F?E'
-0(1)% ,)% 5$1-0(1$.% 01% \',)-()0)% d$+3 )0)C% 0)% ,')(% &#,+,&-$+0F$.% 7*% @$+,-(-0& 9E'>Q>9B>LBF'>:'ZZZD@9HGOD=6GD
2(+,1)%O$+/0401(),<%"#$+$%0)%,%)014'$%&,)$ /,/9'$)C% 79-% -#$)$% ,+$% )5,''$+% ,1.% ,')( =< d('0,@%OQ%$-%,'j%V$,&-08$%/$+2(+,-014%&('3
+$/(+-%(2%\dO%01%,%/,-0$1-%A0-#%+$1,'%.0)3 018('8$% -#$% '(A$+% '$4)<% h0)-('(40&,''*C ',4$1()0)%,))(&0,-$.%A0-#%.0,7$-$)%5$'3
$,)$<?D%h0)-('(40&,''*C%#(A$8$+C%-#$%/$+3 H'$4$'%.0)$,)$%0)%1(-%,%/$+2(+,-014%&(1.03 '0-9)< K!F&0+!M!N1H 419jD=C%=!DL
2(+,-014% $',)-0&% 67$+)% (2% \dO% 9)9,''*% ,'3 -0(1C% 79-C%(&&,)0(1,''*C% 0-% #,)% 7$$1% &(13 I< f*+'$%oj%s7$+%$01$1%914$At#1'0&#$1%2,''
8(1%9108$+)$''$+%2(''0&9'u+$+%91.%/,+,2('3
'(A% .022$+$1-0,-0(1C% ,'-#(94#% 2+,45$1-) 29)$.%A0-#%/$+2(+,-014%.0)(+.$+)<ME
'0@9'u+$+% #*/$+@$+,-()$% G#*/$+@$+,-()0)
(2% $',)-0&% 67$+)% 5,*% 7$% 2(91.% 01% -#$ 2(''0&9',+0)% $-% /,+,2(''0&9',+0)% 01% &9-$5
1$&+(70(-0&% /'94% (2% (-#$+% /$+2(+,-014 /$1$-+,1)J< 3*"#! G1*/$A.+! JCB#% Ga$+'01J
.0)(+.$+)<%X-%'$,)-%(1$%)-9.*%+$/(+-)%-#$ 2%$A/$#"#U'.-"/".,-' 304j?IIC%=!=I
-+,1)$/0.$+5,'% $'0501,-0(1% (2% $',)-0&% 63 .$1%#&U',/!')%&,)+&/) D< U$#+$4,1% XhC% Q()@$*% Voj% d$+2(+,-014
2(''0&9'0-0)< 3*"#!G1*/$A.+ 57jN!?C%=!ID
7$+)% 01% 2(''0&9',+% (&&'9)0(1% .0)$,)$C% .0)3 "#$% /$+2(+,-014% .0)(+.$+)% ,+$% .026&9'-% -( =!< T,1,40#,+,%U%$-%,'j%"#$%/,-#(4$1$)0)%(2
-01490)#014%-#,-%.0)(+.$+%2+(5%\dO<?! -+$,-%Ga(;%IK3LJ<%"#$0+%/+(41()0)%0)%-0$.%-( -#$% -+,1)$/0-#$'0,'% $'0501,-0(1% (2% -#$
B1.080.9,'% '$)0(1)% (2% /$+2(+,-014% dS\ -#$% 91.$+'*014% .0)$,)$)C% )(% -+$,-5$1-% (2 &('',4$1% 791.'$)% 01% ,&R90+$.% +$,&-08$
&,1% )059',-$% -#()$% (2% -#$% ,&R90+$.% /$+3 -#$%91.$+'*014%&,9)$%&,1%7$%$22$&-08$<%X'3 /$+2(+,-014% &('',4$1()0)<% X% '04#-% ,1.
$'$&-+(1% 50&+()&(/0&,'% )-9.*<% M! 4DA$&
2(+,-014% .$+5,-()$)C% 79-% /,-0$1-)% A0-# -#(94#%)(5$%#,8$%+$/(+-$.%)/(1-,1$(9)
;$A#.+ 04jN!DC%=!!I
dS\% #,8$% &#,+,&-$+0)-0&% *$''(A% /,/9'$) .0),//$,+,1&$% (2% /$+2(+,-014% .0)(+.$+) ??< U$#+$4,1%Xhj%\',)-()0)%/$+2(+,1)%)$+/0403
,1.% /',R9$)% (1% -#$% 1$&@C% ,;0'',$C% ,1. A0-#%)-,70'0F,-0(1%(2%+$1,'%.0)$,)$CM=%5()- 1(),j%X%+$80$A%(2%-#$%'0-$+,-9+$%,1.%+$/(+-
(-#$+% ^$;9+,'% )0-$)% G)$$% Q#,/<% =N!J< (2% -#$% /$+2(+,-014% .0)$,)$)% &(1-019$% 2(+ (2%==%&,)$)<%3*"#!G1*/$A.+ 57jND=C%=!ID
U(+$(8$+C% (1% )@01% 70(/)*C% 8(1% f()), *$,+)%91'$))%-+$,-$.<%d$+2(+,-014%.0)(+.$+) ?I< a$&9A$% Q% $-% ,'j% \',)-()0)% /$+2(+,1)% )$+3
/0401(),% ,))(&0,-$.% A0-#% /)$9.(3/)$93
)-,01)%)#(A%&,'&06&,-0(1%(2%$',)-0&%67$+)C 2+$R9$1-'*%+$)('8$%,2-$+%+$1,'%-+,1)/',1-,3 .(;,1-#(5,%$',)-0&95%.9+014%-+$,-5$1-
,1.% W$+#($2238,1% P0$)(1% )-,01)% )#(A -0(1% 01% /,-0$1-)% A0-#% 91.$+'*014% @0.1$* (2% e0')(1l)% .0)$,)$% A0-#% /$10&0'',501$<
2+,45$1-,-0(1% ,1.% &'95/014% (2% $',)-0& 2,0'9+$<ML% X'-#(94#% -#$+$% ,+$% 0)(',-$.% +$3 G1*/$A.+.0C 031jIEC%LEEM
!A#
!"#$%&'()%#*+)*+#,*'--.%-)/+%0-'*1%
!"#$%&'( !"#$%!&%#'$('#)*+),-.&$)#',"##)&
!"
6(77(.318&*)@-.1(.%&*0&731%&(:,)/().;
+/-0,&%'12 #$%&0%+3)/& 0.%'&431&$*0.3'(.$3-32*+&/*5 #)0&%("+"-3'
(2)30*0&*0&.3&(00%00&>$%.$%1&9(0+,-*.*0&*0
$%&&'()*'+', '1%0%).;& G4& *.& *0<& .$%& 0*H%& ()/& .$%& )(.,1%
34& .$%& *)93-9%/& :-33/& 9%00%-& 0$3,-/& :%
,/%$F*$P
3456'%78479:
0.(.%/;&#$%&.$*1/&0.%'&0$3,-/&:%&.3&*/%)5
.*48&.$%&)(.,1%&34&.$%&+%--0&'1%0%).&*)&.$%
0/3&*","#
&;:<56=>'#?9@A7B'C46
/759B'D4=B97<
*)6(77(.318& *)@-.1(.%& ()/& .3& -33C& 431
(//*.*3)(-& $*0.3'(.$3-32*+& 4%(.,1%0& .$(. -,'-'E3-.+&'
(--3>&(&0'%+*@+&/*(2)30*0&34&.$%&/*0%(0%
*)93-9*)2& .$%& 0,:+,.()%3,0& 4(.;!IJ& #$*0
#$%&'())*+,-*.*/%0&(1%&(&213,'&34&$%.%15 (-231*.$7*+& 080.%7& *0& /*0'-(8%/& *)& =*2;
32%)%3,0&*)6(77(.318&/*0%(0%0&*)93-95 KL5!;
*)2& .$%& 0,:+,.()%3,0& 4(.;& #1(/*.*3)(--8<
.$%&0.,/8&34&.$%&'())*+,-*.*/%0&$(0&0%95
%1(-&'*.4(--0;&=*10.<&4137&(&+-*)*+(-&'3*).&34 F$#,3C'#&0,-3'0-.."+)3","#'
9*%><&.$%&-%0*3)0&0$3>&(&/*0(''3*).*)2< G",/'H-#+)3","# +K595@:K'
73)3.3)3,0& (''%(1()+%& :%+(,0%& .$%8
,0,(--8&+3)0*0.&34&%18.$%7(.3,0&)3/,-%0 374I>@J=>@K:6=5@'H:6@4K5=56 M?%% &<J=A7N:=>46Q'=79R7<'64O@4=:97>46'9>RP
2%)%1(--8& -3+(.%/& 3)& .$%& -3>%1& -*7:0; F$(';&!KNO & 4K76'S5=A'K597:K':<<:9T7N79=':K>9T':'
?%+3)/<& 0,'%1@+*(-& ()/& *)(/%A,(.%& :*5 @><RPK5I7'=A5@I7959T'>U'=A7'64O@4=56'>9'
=A7'K>S7<'K5NO6
3'08& 0'%+*7%)0& (1%& 34.%)& 3:.(*)%/& 431 #4L7<M@5:K',A<>NO>LAK7O5=56 M?%%
$*0.3'(.$3-32*+&0.,/8;&B&.$*1/&/*4@+,-.8 F$(';&!PQO!
431&.$%&0'%+*@+&/*(2)30*0&34&'())*+,-*.*5 /56=>L:=A>K>TJ
/%0&1%0,-.0&4137&.$%&%93-,.*3)(18&)(.,1% ?,'%1@+*(-& .$137:3'$-%:*.*0& '1%0%).0
34&.$%&-%0*3)0&:%+(,0%<&-*C%&3.$%1&*)6(75 >*.$&%18.$%7(.3,0<&.%)/%1&0,:+,.()%3,0 H79>46'=A<>NO>656'S5=A59'=A7'67L=:'59'=A7'
7(.318&/*0%(0%0&34&.$%&0C*)<&'())*+,-*.*5 )3/,-%0&>*.$&(&-*)%(1&(11()2%7%).&(-3)2 4LL7<'64O@4=56
/%0& +3)0.*.,.%& /8)(7*+& '13+%00%0& *) (&.%)/%1&+31/5-*C%&.$*+C%)*)2&34&.$%&0,:5 "9V:NN:=><J'59MK=<:=7'S5=A59'=A7';759'
>$*+$& :3.$& .$%& +37'30*.*3)& ()/& .$% +,.*0&M.$%&*)93-9%/&9%*)O&M=*2;&KL5RO;&S0,5 S:KKW'.74=<>LA5K6'59'7:<KJ'K765>96Q'KJNLA>P
/*0.1*:,.*3)& 34& .$%& *)6(77(.318& +%--0 (--8<&.$%0%&+31/0&(1%&-3+(.%/&3)&.$%&-3>%1 @J=76'59'U4KKJ'R7;7K>L7R'K765>96Q':9R'A56=5P
+$()2%&>*.$*)&.$%&+3,10%&34&(&4%>&/(80; -*7:0&()/&(1%&(003+*(.%/&>*.$&9%)3,0&*)5 >@J=76':9R'N4K=594@K7:=7R'T5:9='@7KK6'59'
D%0'*.%& (--& .$%0%& /*4@+,-.*%0<& (& 0'%+*@+ 0,4@+*%)+8&M0%%&F$(';&!PQO;&#$%&.%17&!"# K:=7'K765>96
/*(2)30*0& +()& ,0,(--8& :%& 1%)/%1%/& >*.$ $%&'(%)& *0& (''-*%/& .3& /%0+1*:%& >$%)& -%5
35==K7'><'9>'59;>K;7N79='>U'=A7':RX:@79='U:='
()& (''13'1*(.%& :*3'08& ()/& ()& (/%A,(.% 0*3)0&1%21%00& (.&.$%& 0(7%&.*7%&.$(.&)%>
K>O4K7
+-*)*+35'(.$3-32*+&+311%-(.*3); 43+*&34&.$137:30*0&/%9%-3'&(-3)2&.$%&*)5
93-9%/& 9%*);& B-.$3,2$& (& '1*7(18N& 31
0%+3)/(18Q&$8'%1+3(2,-(:-%&0.(.%&0$3,-/ ,<7:=N79=
/"#,$3$EC'$(' :%&*)9%0.*2(.%/<&730.&34&.$%&.*7%<&9%)3,0
#=>@I59T'><'O:9R:T7'>9'=A7'59;>K;7R'K7T
#)*+),-.&$)#'(-, *)0,4@+*%)+8& 34& .$%& -3>%1& %T.1%7*.*%0& *0
,0,(--8& .$%& 3)-8& '1%+*'*.(.*)2& 4(+.31;& B)
*).%1)(-& 7(-*2)()+8& *0& 0%-/37& /%73)5 ()/& *)6(77(.318& *)@-.1(.%& >*.$*)& *.0
+3-##"("+-,"$.' 0.1(.%/;&U(.*%).0&>*.$&V%$W%.&/*0%(0%&M0%% >(--;& G)& %(1-8& -%0*3)0<& .$%& *)@-.1(.%& *0
$('0-.."+)3","!&# F$(';&!KPO&7(8&(-03&$(9%&0,'%1@+*(-&7*5 730.-8& +37'30%/& 34& )%,.13'$*-0<
E*0.3'(.$3-32*+& +-(00*@+(.*3)& 34& '()5 21(.318& .$137:3'$-%:*.*0& 34& .$%& -3>%1 >$%1%(0& *)& -(.%1& 0.(2%0<& .$%1%& (1%& -875
)*+,-*.*/%0&*0&(-03&+3).139%10*(-;&F-(00*@5 %T.1%7*.*%0;K '$3+8.%0<& $*0.*3+8.%0<& ()/& 3++(0*3)(-
+(.*3)& *0& *)*.*(--8& 0%'(1(.%/& *).3& 730.-8 E*0.3'(.$3-32*+(--8<&.$%&*)93-9%/&9%*) 7,-.*),+-%(.%/& 2*().& +%--0;& B& 0.1*C*)2
0%'.(-&31&730.-8&-3:,-(1&'())*+,-*.*0<&(+5 (''%(10& >*.$*)& .$%& 0%'.(& *)& .$%& ,''%1 4%(.,1%& *0& .$(.<& *)& 0'*.%& 34& .$%& *).%)0%
+31/*)2&.3&.$%&-3+(.*3)&*)&>$*+$&.$%&*)5 0,:+,.*0&()/&0$3>0&-,7*)(-&.$137:30*0 /(7(2%&34&.$%&*)93-9%/&9%*)&>*.$&/%)0%
!"#
!"#$%&'()* *+,,-*.$*/(0*123%4567&88*!"9#4:&0;<*=:2>*!8&2?*(0%0*@"%*)0%9;*"@*A;0>
)&*(+%#"#,%-,$.(,#(/$0 2%#$"++03"0$"%4,/044"&5*"$"#
!"#$"%&'$(# 1+'#$0*,#$%+"46,."#$"%&'$%#"#
7%5$,/044"&5*"$"#
1+'#$0*#
2%#$#$(+%"3,/044"&5*"$"#
80$,4(&+%#"#,%-,$.(,4(9:%+4
?"/%0$+%/.'
D%,&+'#$0*# ;+05<0$"&,/044"&5*"$"#
@'+A:)+ )5:&5$04(%5#,#0+&%"3%#"#
B!,()*'+',
1'$%/.06%&'$%#"# 1'$%/.06"&,/044"&5*"$"#
8%+("64,:%3"(# 80&$"&"0*,/044"&5*"$"#
9:,+*;5*:>)*!?
H0&$(+"0K,-546"K,/+%$%I%0 =4-(&$"%5#,/044"&5*"$"#
D(5$+%/."*#
!>04$"$+'/#"4
@'+A D(5$+%/."*#,:($9((4,&%**06(4,:543*(#
3(-"&"(4&'
B!,()*'+',
)0/%4"-"&0$"%4,%-,03"/%&'$(# 204&+(0$"&,/044"&5*"$"#
?'</.%"3,-%**"&*(#,043,/*0#<0,&(**# ?5/5#,/044"&5*"$"#
?'</.%&'$(#
)5/(+-"&"0*,043,3((/,/(+"F0#&5*0+,"4-"*$+0$( 1%*3,/044"&5*"$"#
D((3*(,#.0/(3,&+'#$0*#,"4,03"/%&'$(# )&*(+(<0,4(%40$%+5<
D%,"4-*0<<0$%+' @A0*%#"#
&(**# L0#&5*0+,&0*&"-"&0$"%4
$!&&'()*'+', 10*&"/.'*0A"#
D(&+%#"#,0$,$.(,&(4$(+,%-,$.(,-0$,*%:5*( )&*(+%#"46,/044"&5*"$"#
D(5$+%/."*"&,
*%:5*0+,/044"&5*"$"#
)<0**,F(##(*#M ?5&"%,/.(4%<(4%4
F(45*(#
G+'$.(<0,
4%3%#5<,*(/+%#5<
?0+6(,F(##(*#M G+'$.(<0,"435+0$5<,%-
0+$(+"(#,043,F("4# H0I"4JD%35*0+,F0#&5*"$"#
B03"0*,6+045*%<0#,"4,#(/$0
G+'$.(<0,4%3%#5<,
!"#$"%&'$(# 1.%*(#$(+%*,&*(-$# D(&+%:"%$"&,
A04$.%6+045*%<0
@'+A:)+ 8":+"4
B!,()*'+', B.(5<0$%"3,4%35*(
O5&"4
9:,+*;5,<=+!* )5:&5$04(%5#,
6+045*%<0,0445*0+(
?'</.%&'$(# D%,6+045*%<0$%5#,"4-"*$+0$(
043,/*0#<0,&(**# C((/,<%+/.(0
@'+A
B!,()*'+', 7+045*%<0$%5#,"4-"*$+0$( D(&+%:"%#"#,*"/%"3"&0
N+$(+"(# 15$04(%5#
?0+6(,F(##(*# /%*'0+$(+"$"#,4%3%#0
L("4#
)5/(+-"&"0*,$.+%<:%/.*(:"$"#
)<0**,F(##(*# L(45*(# ?(5E%&'$%&*0#$"&,F0#&5*"$"#
*)6(77(.318& *)@-.1(.%& *)& *.0& >(--& ()/ .*3)& 34& (& 0,''31.& 0.3+C*)2& 3)& .$%& *)5 7(8& :%& '1%0%).<& .$%8& (1%& -%00& 41%A,%).
7(1C%/& 0%'.(-& .$*+C%)*)2<& .$%& (/X(+%). 93-9%/& -%2;& G)& +$13)*+& ()/& 1%+,11%). .$()& *)& -%0*3)0& 34& 0,'%1@+*(-& .$1375
4(.&-3:,-%&*0&7*)*7(--8&*)93-9%/; +(0%0<& %0'%+*(--8& .$30%& (003+*(.%/& >*.$ :3'$-%:*.*0;& D*1%+.& *77,)36,31%0+%).
#1%(.7%).& 34& 7*21(.318& .$137:35 7(-*2)()+8<& $%'(1*)& ()/& @:1*)3-8.*+ 0.,/*%0& 34& -%0*3)0& 34& +,.()%3,0& '3-8(15
'$-%:*.*0& *0& +3)0%19(.*9%<& >*.$& (''-*+(5 /1,20&7(8&:%&,0%/; .%1*.*0& )3/30(& $(9%& 0$3>)& *77,)35
2-3:,-*)&[&()/&+37'-%7%).&/%'30*.*3)
*)&.$%&*)93-9%/&9%00%-&>(--0;!"&B0&*0&.$%
+),-.&$)#' +4=:97>46'0>KJ:<=7<5=56' +(0%& *)& 0,'%1@+*(-& .$137:3'$-%:*.*0<& -%5
.>R>6: M?%%&F$(';&!KQO 0*3)0& 34& +,.()%3,0& '3-8(1.%1*.*0& )3/30(
0$3C-%,&%","#' F,.()%3,0& '3-8(1.%1*.*0& )3/30(& *0& (& 9(05
0$3>&-*..-%&31&)3&*)93-9%7%).&34&.$%&(/5
X(+%).& 4(.& -3:,-%<& ()/& .$%& '13+%00& *0& %T5
.$!$#- +,-*.*0&*)93-9*)2&.$%&(1.%1*%0&()/&(1.%1*3-%0
34&.$%&0%'.(&34&.$%&0,:+,.()%3,0&4(.&>*.$
+-,0*9%-8&(&0%'.(-&(1.%1*.*0;
[*-/& +(0%0& 34& +,.()%3,0& '3-8(1.%1*.*0
-,'-'E3-.+&' -*..-%&31&)3&%9*/%)+%&34&080.%7*+&/*0%(0%;P
#$%&-3>%1&-%20&(1%&,0,(--8&(44%+.%/;&F-*)*5
+(--8<&.$%&-%0*3)0&+3)0*0.&34&:*-(.%1(-<&.%)5
)3/30(& 7(8& :%& 7()(2%/& >*.$& )3)0.%15
3*/(-& ().*5*)6(77(.318& /1,20& 31& -3>
/30%0& 34& '1%/)*03)%;\& G)& '(.*%).0& >*.$
/%1& %18.$%7(.3,0& )3/,-%0<& >$*+$& 7(8 (+,.%&6(1%5,'0&34&+,.()%3,0&'3-8(1.%1*.*0
,)/%123&,-+%1(.*3)<&()/&(&:(+C213,)/&34
)3/30(&(003+*(.%/&>*.$&/3+,7%).%/&:(+5
-*9%/3&1%.*+,-(1*0&M=*2;&KL5JO;&Y?.(1:,10.Z&-*5 .%1*(-& *)4%+.*3)0<& (& -3)2& +3,10%& 34& .1%(.5
9%/3&*0&+$(1(+.%1*0.*+&()/&7(1C0&(&+-,0.%1 7%).&>*.$&().*:*3.*+0&7(8&:%&$%-'4,-;
34& )3/,-(1& -%0*3)0;& [*-/& +3)0.*.,.*3)(-
087'.370<&*)+-,/*)2&-3>521(/%&4%9%1<&(15
+K595@:K' .$1(-2*(0<& 78(-2*(0<& 7(-(*0%<& ()/& 4(.*2,%< F$#,3C'#&0,-3'0-.."+)3","#'
7(8&(''%(1&0*7,-.()%3,0-8&>*.$&.$%&+,5 G",/$),'H-#+)3","#
H:6@4K5=56'59;>K;59T'=A7':<=7<576':9R':<=7<5P .()%3,0&-%0*3)0;L&#$%&(:0%)+%&34&080.%7*+
>K76'>U'=A7'67L=:'>U'=A7'64O@4=:97>46'U:=Q' *)93-9%7%).& *0& +$(1(+.%1*0.*+& ()/<& (-5 .7@<>O5>656'35L>5R5@: M?%%&
S5=A'K5==K7'><'9>'7;5R79@7'>U'6J6=7N5@'R567:67 .$3,2$&.$%&+3,10%&7(8&:%&'13-3)2%/<&.$% F$(';&!QRO &
*5K:=7<:K'=79R7<'7<J=A7N:=>46'9>R4K76' '132)30*0& *0& 233/;& G)& 1(1%& *)0.()+%0<& '(5
>;7<':'O:@IT<>49R'>U'K5;7R>'<7=5@4K:<56'>9' .*%).0& >*.$& +,.()%3,0& '3-8(1.%1*.*0& )35
=A7'K>S7<'K7T6 /30(&0$3>&0%13-32*+&%9*/%)+%&34&$%'(.*.*0 !77L'F><LA7: M?%%&F$(';&KRO
V&*)4%+.*3)<&+1832-3:,-*)%7*(<& 31& '%1*'$5
/56=>L:=A>K>TJ %1(-&)%,13'(.$8;\ #4O@4=:97>46'E<:94K>N:'
E*0.3'(.$3-32*+(--8<& +,.()%3,0& -%5
H:6@4K5=56'59;>K;59T'N7R54NP65B7R':<=7<576' 0*3)0& 0$3>& 9(0+,-*.*0& *)93-9*)2& 7%5
-994K:<7 M?%%&F$(';&NJO
:9R':<=7<5>K76':='=A7'67L=:'>U'=A7'4LL7<' /*,750*H%/&(1.%1*%0&()/&(1.%1*3-%0&(.&.$%
64O@4=56Y'&>659>LA5K5@'<59T'>U'MO<59>5R' 0%'.(&()/&037%.*7%0&-3:,-%0&34&.$%&,'5 %A74N:=>5R'.>R4K7 M?%%&
97@<>656'>U'=A7'59=5N:'>U'=A7'59;>K;7R' '%1& 0,:+,.*0;& G)93-9%7%).& 34& .$%& (1.%1*5 F$(';&!K!O
:<=7<JQ'T5;59T':'=:<T7=PK5I7':LL7:<:9@7'=>' 3-%0&34&.$%&-3:,-%&7(8&(-03&:%&0%%)&>*.$
=A7';7667KY 7*+130+3'*+& '3-8()2**.*0;& #$%& *)93-9%/
9%00%-& $(0& (& .$*+C%)%/& >(--& ()/& ()& *)5 .7@<>O5>=5@'Z:9=A>T<:94K>N: M?%%
35==K7'><'9>'59;>K;7N79='>U'=A7':RX:@79='U:='
6(77(.318&*)@-.1(.%&34&9(1*(:-%&+37'35 F$(';&!N\O
K>O4K7Y
0*.*3)<&/%'%)/*)2&3)&.$%&0.(2%&34&%93-,5
.*3)& 34& .$%& -%0*3)0;& F$(1(+.%1*0.*+(--8<
,<7:=N79= &<J=A7N:'.>R>64N
.$%&*).*7(&34&.$%&*)93-9%/&(1.%18&%T$*:5
.>96=7<>5R:K':9=5P59V:NN:=><J'R<4T6'><' *.0& ()& %30*)3'$*-*+& 1*)2& 34& @:1*)3*/& )%5 ]18.$%7(& )3/30,7& *0& .$%& 730.& +375
K>S'R>676'>U'L<7R956>97 +130*0<&2*9*)2&(&.(12%.5-*C%&(''%(1()+%&.3 73)&.8'%&34&0%'.(-&'())*+,-*.*0;&G.&*0&)3.
.$%& 9%00%-;& B-.$3,2$& -,7*)(-& .$137:* (&/*0%(0%&:,.&(&1%(+.*3)&'(..%1)&.3&(&9(1*5 !-8
D F G
/012345"67H +4=:97>46'L>KJ:<=7<5=56'9>R>6:Y'DE'+K595@:K':LL7:<:9@7W',79R7<'7<J=A7N:=>46'9>R4K76'S5=A'64L7<M@5:K'4K@7<:=5>9'>;7<':'O:@IT<>49R'>U'K5;7R>
<7=5@4K:<56'>9'=A7'K>S7<'K7T6Y'FE'/56=>L:=A>K>TJW'#@:9959T'L>S7<'6A>S59T';:6@4K5=56'59;>K;59T':'N7R54NP65B7R':<=7<J':='=A7'67L=:'>U'=A7'4LL7<'64O@4=56Y'GE'/5TA7<
N:T95M@:=5>9'6A>S59T'=A7'59=5N:'>U'=A7'59;>K;7R':<=7<J'S5=A':9'7>659>LA5K5@'<59T'>U'MO<59>5R'97@<>656Q'T5;59T':'=:<T7=PK5I7':LL7:<:9@7'=>'=A7';7667KY
-,'-'E3-.+&' \ -=JL5@:K'NJ@>O:@=7<5:K'59U7@=5>96^c
\ +A:9@<>5R^c
\ F7959T>@>@@7N5:^c
\ +AK><>=A5:B5R76c]
\ 0A79J=>59c]
\ -N59>LJ<597^c
\ ,+#.&"/'01"#%2*34%-515"#%'"'59U7@=5>96^c \ -<6LA79:N597^c
\ +:=P6@<:=@A'R567:67^2 \ /7L:=5=56'*';:@@59721
\ 6#+-%+&%/'01"#%2*3'0&"$^d \ .5=<>U4<:9=>59^c
\ (5%7"))''59U7@=5>961_ \ 0J<5=59>K1]
\ E>9><<A7:1] \ !PL795@5KK:N5972c
\ #JLA5K561` \ ,A:K5R>N5R722
+K595@:K' \ 37L=>6L5<>6561a \ "6>=<7=59>592d
\ e'U7;7<1b \ "9=7<K74I59'`d_
#JNN7=<5@Q'=79R7<Q'7<J=A7N:=>46Q'S:<N' \ 3JNLA>T<:94K>N:';797<74N1^ F:K5T9:9='!567:676
9>R4K76':9R'<:567R'LK:8476'>9'=A7':9=7P \ ,5)'*.4%'3-$%11'0%'59U7@=5>9611 \ />RTI59'R567:67d]
<5><':6L7@=6'>U'=A7'K>S7<'7[=<7N5=576 \ 8.0+-)'$*'3-&"2*+&%'"'59U7@=5>961c \ .>9P/>RTI59'KJNLA>N:d`
-@4=7'>967= \ H5<:K'59U7@=5>96 \ 374I7N5:da
.>'4K@7<:=5>9 \ "9U7@=5>46'N>9>94@K7>65612 \ #:<@>N:1]
\ /7L:=5=56'*1d \ %79:K'@:<@59>N:d_
F><7'@>NN>9'59'S>N79'=A:9'59'N79
\ F5KI7<f6'9>R4K76c_ \ 0>6=P<:R5>=A7<:LJ'U><'L7K;5@'@:<@59>N:db
\ $<Uc] F56@7KK:97>46'+>9R5=5>96
/56=>L:=A>K>TJ \ /7<L76'65NLK7[^c \ #:<@>5R>656d^
\ F7:6K76c] \ )K@7<:=5;7'@>K5=56d1
F>6=KJ'67L=:K'L:995@4K5=56'S5=A>4=';:6@4K5=56
\ +J=>N7T:K>;5<46'59U7@=5>96c` \ +>K>9'R5;7<=5@4K>6561]
,A5@I797R'67L=:'S5=A'59V:NN:=><J'@7KK6 \ (49T:K'59U7@=5>96 \ +<>A9'R567:67dc
.74=<>LA5K6'59'7:<KJ'K765>96':9R'A56=5>P \ !7<N:=>LAJ=76ca \ *7Ag7='R567:67d2
@J=76':9R'F576@A7<'T<:94K>N:6'59'K:=7P \ *K:6=>NJ@>656cb \ %75=7<'6J9R<>N7dd
6=:T7'K765>96 \ /56=>LK:6N>656c^ \ #S77='6J9R<>N7]__
\ +>@@5R5>5R>NJ@>656c1 \ 0<7T9:9@J]_]
\ #L><>=<5@A>656^c \ ,:I:J:64':<=7<5=56]_`
,<7:=N79= \ -6L7<T5KK>656cc \ "NN49>TK>O4K59'-'97LA<>L:=AJ]_a
,<7:=N79='>U'=A7':66>@5:=7R'R56><R7<Y \ 0<>=>B>:K'59U7@=5>96 \ +A<>95@':@=5;7'A7L:=5=56]_b
\ ,>[>LK:6N>656c2 \ E<:94K>N:=>46'N:6=5=56]_^
*7R'<76=Q':6L5<59Q'9>96=7<>5R:K':9=5P
\ -9@JK>6=>N5:656^c \ H>T=PD>J:9:T5'R567:67]_1
59V:NN:=><J'R<4T6Y
\ -N7O5:656cd \ #XhT<79'6J9R<>N7]_1
#J6=7N5@'@><=5@>6=7<>5R6':<7'<:<7KJ' \ E5:<R5:656cd
59R5@:=7RY \ -6@:<5:6562_
!-C
#$%&-*0.&34&%.*3-32*+&4(+.310&(003+*(.%/ 1%7*)*0+%).& 34& .$30%& +%).%10& 34& [*%5
>*.$& %18.$%7(& )3/30,7& *0& 9%18& -3)2< 0+$%1& 1(/*(-& 21(),-37(;& B)3.$%1& $*0.35
*)+-,/*)2& *)4%+.*3,0& /*0%(0%0<& 7%/*+(5 '(.$3-32*+& +$(1(+.%1*0.*+& 34& %18.$%7(
.*3)0<& 7(-*2)()+*%0<& ()/& (& >*/%& 213,' )3/30,7&*0&.$%&(:0%)+%&34&9(0+,-*.*0;!!"
34& 7*0+%--()%3,0& +3)/*.*3)0& M0%%& #(:-% G)& -(.%50.(2%& -%0*3)0& 34& %18.$%7(& )35
KL5!O;Q"I!"K&B-.$3,2$&.$%1%&(1%&+3)0*/%15 /30,7<&.$%&0%'.(&(1%&7(1C%/-8&>*/%)%/
(:-%&2%321('$*+&9(1*(.*3)0&1%-(.%/&.3&%)5 >*.$& 21(),-(.*3)& .*00,%& (.& .$%& *).%14(+%
/%7*+& *)4%+.*3)0<& 0.1%'.3+3++(-& *)4%+5 :%.>%%)& 0%'.(& ()/& 4(.& -3:,-%0;& ^*.$
.*3)0& (1%& .$%& 730.& 41%A,%).& %.*3-32*+ .*7%<& .$%& -%0*3)0& 1%03-9%& >*.$3,.& (.135
4(+.31& 34& %18.$%7(& )3/30,7& *)& +$*-5 '$8&31&0+(11*)2&34&.$%&*)93-9%/&0%'.(;
/1%);& G)& +3).1(0.<& /1,20<& 0(1+3*/30*0< #1%(.7%).& 34& %18.$%7(& )3/30,7
()/&*)6(77(.318&:3>%-&/*0%(0%&(1%&.$% 0$3,-/& :%& /*1%+.%/& .3>(1/& .$%& (003+*5
730.&+3773)-8&(003+*(.%/&/*031/%10&*) (.%/& /*031/%1;& S0,(--8<& )3/,-%0& 34& %185
(/,-.0& >*.$& %18.$%7(& )3/30,7;& ]185 .$%7(& )3/30,7& 1%21%00& 0'3).()%3,0-8
.$%7(& )3/30,7& *0& +3)0*/%1%/& .3& :%& ( >*.$*)&(&4%>&>%%C0<&()/&:%/&1%0.&*0&345
$8'%10%)0*.*9*.8& 1%0'3)0%& .3& (& -(12% .%)& 0,4@+*%).& .1%(.7%).;& B0'*1*)<& )3)5
/01234 "67I +K:665@' 7<J=A7N:' 9>R>64NY ),7:%1&34&*)+*.*)2&4(+.310; 0.%13*/(-&().*5*)6(77(.318&/1,20&()/&R
*5K:=7<:K'7<J=A7N:=>46'9>R4K76'K>@:K5B7R'>;7<'=A7 ]18.$%7(&)3/30,7&*0&.$%&0.%1%3.8'*5 .3& !"& /13'0& 34& (& 0(.,1(.%/& 03-,.*3)& 34
6A596Y +(-&$*0.3-32*+&%T(7'-%&34&(&730.-8&0%'.(- '3.(00*,7&*3/*/%&7(8&:%&$%-'4,-&.3&%)5
'())*+,-*.*0&>*.$&)3&9(0+,-*.*0;&#$%&+3)5 $()+%& ()(-2%0*(& ()/& 1%03-,.*3);!!!I!!K
)%+.*9%& .*00,%& 0%'.(& 34& .$%& 0,:+,.*0& ('5 ?80.%7*+&+31.*+30.%13*/0&(1%&1(1%-8&*)/*5
.*3)& +3)0*0.0& 34& (& 0,//%)& 3)0%.& 34& 0875 '%(1& .$*+C%)%/& >*.$& *)6(77(.318& +%--0 +(.%/&*)&%18.$%7(&)3/30,7<&()/&()&,)5
7%.1*+<& .%)/%1<& %18.$%7(.3,0<& >(17 .$(.&%T.%)/&.3&.$%&'%1*0%'.(-&(1%(0&34&.$% /%1-8*)2& *)4%+.*3)& 0$3,-/& :%& 1,-%/& 3,.
)3/,-%0&()/&1(*0%/&'-(A,%0&>*.$&:*-(.%1(- 4(.& -3:,-%0& M0%%& =*2;& KL5QVO;& B0& *)& 3.$%1 :%431%&.$%0%&/1,20&(1%&(/7*)*0.%1%/;
/*0.1*:,.*3)<& ,0,(--8& 3)& .$%& ().%1*31& (05 '())*+,-*.*/%0<& .$%& +37'30*.*3)& 34& .$%
'%+.&34&.$%&-3>%1&%T.1%7*.*%0&M=*20;&KL5N *)6(77(.318& *)@-.1(.%& *)& .$%& 0%'.(& 34
()/ KL5QO;&^*.$*)&(& 4%>& /(80<& .$%& )3/5 %18.$%7(& )3/30,7& -%0*3)0& 9(1*%0& >*.$ F$#,3C'3$*)3-%'0-.."+)3","#'
,-%0& 0$3>& (& 9*9*/& 1%/& 31& ',1'-*0$& +3-31 (2%&34&.$%&-%0*3)<&>*.$&)%,.13'$*-0&:%*)2 G",/'H-#+)3","#
.$(.&%93-9%0&.3&(&8%--3>&31&21%%)*0$&+3-5 .$%& '1%/37*)().& +%--0& *)& %(1-8& -%0*3)0<
31(.*3)<&>$*+$&1%0%7:-%0&(&/%%'&:1,*0%< >$%1%(0& $*0.*3+8.%0& ()/& 07(--& 21(),-35
&<J=A7N:'.>R>64N'37L<>64N M?%%
F$(';&!LKO
.$%& 035+(--%/& *%)'+*!&, -(.'/0"1(%!*;& S-5 7(0& (1%& 0%%)& *)& -(.%50.(2%& -%0*3)0;& B
+%1(.*3)& *0& )%9%1& 0%%)& *)& %18.$%7(& )35 +$(1(+.%1*0.*+&$*0.3'(.$3-32*+&7(1C%1&34
/30,7<&()/&.$%&-%0*3)0&$%(-&>*.$3,.&(.5 %18.$%7(&)3/30,7&*0&.$%&035+(--%/&2"*# 34@5>'0A79>N79>9
13'$8& 31& 0+(11*)2;& B+,.%& :3,.0& 34 0-+*%,%&3"&4,$%&./4(!&<&>$*+$&+3)0*0.0&34
%18.$%7(&)3/30,7&(1%&(003+*(.%/&>*.$ 07(--<& 13,)/<& >%--5/%@)%/& )3/,-(1& (25
.74=<>LA5K5@'3>O4K:<'0:995@4K5=56
(& 4%9%1<& 4(.*2,%<& 7(-(*0%<& (1.$1(-2*(< 21%2(.*3)0& 34& 07(--& $*0.*3+8.%0& 1(/*(--8
$%(/(+$%<& (:/37*)(-& '(*)<& 937*.*)2< (11()2%/& (13,)/& (& 7*),.%& 0-*.& M0%%& =*2; a%,.13'$*-*+& -3:,-(1& '())*+,-*.*0& *0& ()
+3,2$<&31&/*(11$%(;&#$%&%1,'.*3)&2%)%15 KL5QFO;!"PI!"\& #$%& )(.,1%& 34& .$%& +%).1(- ,)+3773)<& 1%(+.*9%& *)6(77(.318& '135
(--8&-(0.0&4137&J&.3&K&>%%C0<&()/&1%+,15 +-%4.& *0& ,)C)3>)<& ()/& *77,)3$*05 +%00& +$(1(+.%1*H%/& :8& 7(.,1%& '3-87315
1%)+%0&(1%&41%A,%).; .3+$%7*+(-& ()/& ,-.1(0.1,+.,1(-& 0.,/*%0 '$3),+-%(1& -%,C3+8.%0& *)93-9*)2& 730.-8
#$%& +-(00*+(--8& /%0+1*:%/& '13+%00%0 $(9%& 4(*-%/& .3& /%73)0.1(.%& %)/3.$%-*(- .$%&-3:,-%0&34&.$%&0,:+,.()%3,0&4(.;&#$%
34& %18.$%7(& )3/30,7& 7*21()0<NJINK 31&3.$%1&+%--,-(1&-*)*)2&34&.$%0%&+-%4.0;&G) -%0*3)0&+3)0*0.&34&%18.$%7(.3,0&0,:+,.(5
0,:(+,.%& )3/,-(1& 7*21(.318& '())*+,-*5 3-/%1& )3/,-%0& 34& %18.$%7(& )3/30,7< )%3,0&)3/,-%0&*)93-9*)2&.$%&-3>%1&(:/35
.*0& 34& _*-()39(& ()/& U*`3-<NP<NL& ()/ $*0.*3+8.%0&+3(-%0+%&.3&4317&7,-.*),+-%5 7%)& ()/& %T.1%7*.*%0& .$(.& (1%& +-*)*+(--8
+$13)*+&%18.$%7(&)3/30,7<N\&(1%&)3> (.%/& 2*().& +%--0& M0%%& %=*2;& KL5Q;!& *)& 3)5 *)/*0.*)2,*0$(:-%& 4137& %18.$%7(& )35
X,0.& +3)0*/%1%/& +-*)*+(-& 9(1*().0& 34&%185 -*)%&%/*.*3)O<&7()8&34&>$*+$&0.*--&C%%'&*) /30,7;&B&1%9*%>&34&.$%&-*.%1(.,1%&1%9%(-0
.$%7(&)3/30,7; .$%*1& +8.3'-(07& (& 0.%--(.%& +%).1(-& +-%4. .$(.& .$*0& .8'%& 34& '())*+,-*.*0& $(0& :%%)
D F G
/012345"67! &<J=A7N:'9>R>64NY'DE'+K595@:K':LL7:<:9@7W'#JNN7=<5@Q'=79R7<Q'7<J=A7N:=>46Q'S:<N'9>R4K76'S5=A'O5K:=7<:K'R56=<5O4=5>9'>9'=A7'I9776Y'FE'/56P
=>L:=A>K>TJW'#@:9959T'L>S7<'6A>S59T':'N>6=KJ'67L=:K'L:995@4K5=56Y'GE'/5TA7<'N:T95M@:=5>9'6A>S59T':'F576@A7<'<:R5:K'T<:94K>N:Q'SA5@A'@>9656=6'>U':'6N:KKQ
<>49RQ'S7KKPR7M97R'9>R4K:<':TT<7T:=5>9'>U'6N:KK'A56=5>@J=76'<:R5:KKJ':<<:9T7R':<>49R':'@79=<:K'6K5=Y
!-H
/%0+1*:%/& *)& '(.*%).0& >*.$& 0%9%1%& 1$%,5
7(.3*/& (1.$1*.*0<& ()/<& *)& 3.$%1& 0.,/*%0< &%C,/&F-'
.$%& '13+%00& *0& 0*2)*@+().-8& (003+*(.%/
>*.$& 78%-3/80'-(0*(;!RRI!RK& ?37%& (,5
.$310& +3)0*/%1& )%,.13'$*-*+& -3:,-(1& '()5
".!)%-,)F'$('
)*+,-*.*0& (0& 0,:+,.()%3,0& ?>%%.& 08)5
/137%& M0%%& F$(';& J!O;!RP& F,-.,1%0& 431
*-j".i.$!)3-%
:(+.%1*(& ()/& 4,)2*& (1%& )%2(.*9%;& ?%1,7
-%9%-0& 34& !5().*.18'0*)& (1%& )317(-<& ()/
H-#+)3","#
.$%&'$%)3.8'%&.%)/0&.3&:%&[[&M0%%& !5
B).*.18'0*)5D%@+*%)+8&U())*+,-*.*0O;&U13:5
(:-8<&.$*0&'13+%00&*0&731%&(&1%(+.*9%&'(.5
-,'-'E3-.+&'
.%1)&.$()&(&/*0.*)+.*9%&/*0%(0%;
E*0.3'(.$3-32*+(--8<& .$%& -%0*3)0& 0$3>
(&730.-8&-3:,-(1&'())*+,-*.*0<&>*.$&0%9%1%
)%+130*0&34&.$%&(/*'3+8.%0&*)&.$%&4(.&-3:5
,-%& ()/& ()& *)6(77(.318& *)@-.1(.%& +375 /012345"67" &<J=A7N:' 59R4<:=4N' >U' *:B59i
'30%/&34&)%,.13'$*-0<&43(78&$*0.*3+8.%0< 9>R4K:<';:6@4K5=56Y'+>K4N9PK5I7'@:K;76Q'7<J=A<>@JP
()/&7,-.*),+-%(.%/&2*().&+%--0;&=3+(-&4%(5 +K595@:K :9>656Q' :9R' 7<J=A7N:=>46Q' O<>S9Q' :9R' OK456A
.,1%0& 34& -%,C3+8.3+-(0.*+& 9(0+,-*.*0& $(9% 9>R4K76'S5=A'4K@7<:=5>9'>9'=A7'L>6=7<5><':6L7@='>U
:%%)&/%0+1*:%/&*)&.$%&-%0*3)0&34&'(.*%).0 &<J=A7N:=>46'64O@4=:97>46'9>R4K76':9R' =A7'@:K;76Y
>*.$&)%,.13'$*-*+&-3:,-(1&'())*+,-*.*0&(05 LK:8476'>9'=A7'L>6=7<5><':6L7@=6'>U'=A7'
03+*(.%/&>*.$&1$%,7(.3*/&(1.$1*.*0<!RQ&:,. K>S7<'K7T6
(1%& 0+(..%1%/& :8& /*0+1%.%& +3--%+.*3)0& 34
)3.& *)& .$30%& >*.$& 78%-3/80'-(0*(& 31 F><7'U<78479='59'N5RRK7P:T7R'S>N79
*)6(77(.318& +%--0<& 730.-8& )%,.13'$*-0<
?>%%.&08)/137%;!RK<!RP $U=79Q'4K@7<:=5>9':9R'6@:<<59T ()/&.$%1%&*0&%T.%)0*9%&)%+130*0&34&.$%&(/5
a%,.13'$*-*+& -3:,-(1& '())*+,-*.*0& *0
+A<>95@'@>4<67 *'3+8.%0& *)& .$%& +%).%1& 34& .$%& 4(.& -3:,-%
$*2$-8&1%0'3)0*9%&.3&31(-&0.%13*/&.$%1('8;
M0%% =*2;&KL5PV<FO;&G)&4,--8&/%9%-3'%/&-%5
/56=>L:=A>K>TJ 0*3)0<& %'*.$%-*3*/& $*0.*3+8.%0& ()/& 7,-.*5
&<J=A7N:'"9R4<:=4N'>U' ),+-%(.%/& 2*().& +%--0& 3++,1& .$(.& *)2%0.
F>6=KJ'K>O4K:<'L:995@4K5=56'S5=A';:6@4K5=56 -*'*/& 4137& )%+13.*+& (/*'3+8.%0<& 2*9*)2& (
*:B59i.>R4K:<'H:6@4K5=56
&[=7965;7'97@<>656'>U'=A7':R5L>@J=76'59' 21(),-37(.3,0& (''%(1()+%& .3& .$%& *)@-5
F,11%).-8<& .$%& .%170& *%)'+*!&, ".3/%&'/! =A7'@79=7<'>U'=A7'U:='K>O4K7 .1(.%;& ?7(--& (1%(0& 34& +(0%(.*)2& )%+130*0
(1,5&6".&()/&.(3/4&%,7&0-/4"'"0&(1%&,0%/&(0 (1%& 0%%)& (.& .$%& +%).%1& 34& 037%& 21(),-35
H:<5:OK7'59V:NN:=><J'59MK=<:=7'59'=A7'U:='
08)3)870& :8& 730.& (,.$310& .3& /%0+1*:% 7(0<&0$3>*)2&(--&.$%&$*0.3'(.$3-32*+&(.5
K>O4K7W'.74=<>LA5K6'59'7:<KJ'K765>96':9R'
.$%&730.&+3773)&4317&34&-3:,-(1&'()5 .1*:,.%0&34&.,:%1+,-30*0;&F(0%(.*)2&)%+135
7L5=A7K5>5R'A56=5>@J=76':9R'N4K=594@K7:=7R'
)*+,-*.*0& >*.$& 9(0+,-*.*0;!RL<!R\& ?37%& *)5 0*0& 7(8& %T.%)/& .3& .$%& 39%1-8*)2& /%17*0
T5:9='@7KK6'59'U4KKJ'R7;7K>L7R'K765>96
9%0.*2(.310<& $3>%9%1<& '1%4%1& .3& 1%.(*) ()/& %'*/%17*0<& 1%0,-.*)2& *)& ,-+%1(.*3)
.$%&)(7%&*%)'+*!&,".3/%&'/!,(1,5&6".&431 H:6@4K5=56'>U'=A7'6N:KK';7596':9R';794K76' ()/&/*0+$(12%&34&-*A,%@%/&)%+13.*+&4(.;
.$30%& +(0%0& *)& >$*+$& ()& %.*3-32*+& 1%-(5 >U'=A7'U:='K>O4K7 #$%& $*0.3'(.$3-32*+& 1%A,*1%7%).& 431
.*3)0$*'& >*.$& .,:%1+,-30*0& *0& /%73)5 9(0+,-*.*0& .3& %0.(:-*0$& .$%& /*(2)30*0& 34
0.1(.%/& ()/& 1%4%1& .3& .$%& 1%7(*)/%1& 34 ,<7:=N79= %18.$%7(&*)/,1(.,7&34&V(H*)&*0&+3).135
+(0%0& (0& .(3/4&%, 7&0-/4"'"0;& G)& 037%& 2%35 9%10*(-;& ]9%)& (++%'.*)2& 9(0+,-*.*0& (0& (
21('$*+&(1%(0<&:,.&)3.&*)&3.$%10<&'3-875 G5=A'L>65=5;7'F:9=>4['=76='><'SA79' $*0.3'(.$3-32*+& +1*.%1*3)<& .$%1%& *0& )3
%1(0%&+$(*)&1%(+.*3)&*)9%0.*2(.*3)0&$(9% 8.0+/'01"#%2*312/"#02)+$%$'!.-'56'R7NP (21%%7%).& (:3,.& .$%& )(.,1%& 34& .$%& *)5
/%73)0.1(.%/& .$(.& 2)-(8&-'*%"/!, '/8*%# >96=<:=7RW'-'U4KK'@>4<67'>U':9=5=4O7<@4K>P 93-9%/&9%00%-e&037%&(,.$310&:%-*%9%&.$(.
-/4(0"0&DaB&*0&'1%0%).&*)&730.&34&.$%&+,5 656'=<5LK7P:T79='=A7<:LJ .$%&*)93-9%/&9%00%-&*0&()&(1.%18<!N"<!N!&3.$5
.()%3,0& :*3'08& 0'%+*7%)0& 34& '(.*%).0 "9'>=A7<'@:676W'0>=:6654N'5>R5R7Q'64LP %10&4(931&9%)3,0&*)93-9%7%).<!NR&()/&0.*--
>*.$&%18.$%7(&*)/,1(.,7&34&V(H*)<!J"I!JL L><=59T'O:9R:T76Q'O7R'<76=Q':9R'9>96=7<P 3.$%10& +3)0*/%1& .$(.& :3.$& (1.%1*%0& ()/
0,''31.*)2& .$%& )3.*3)& .$(.& .,:%1+,-30*0 >5R:K':9=5P59V:NN:=><J'R<4T6 9%*)0& (1%& *)93-9%/;!NJI!NP& G)& 3,1& %T'%1*5
*0& .$%& 730.& *7'31.().& %.*3-32*+& 4(+.31 %)+%<& >$%)& 9(0+,-*.*0& *0& '1%0%).<& .$%
431&.$*0&'())*+,-*.*0; 07(--&9%*)0&()/&9%),-%0&34&.$%&4(.&-3:,-%
]18.$%7(& *)/,1(.,7& 34& V(H*)b)3/,5 731%& 41%A,%).& *)& 3:%0%& >37%)& >*.$ (1%&.$%&730.&+3773)-8&*)93-9%/&9%00%-0
-(1& 9(0+,-*.*0& M]GVba_O& *0& 731%& 41%A,%). 037%& /%21%%& 34& 9%)3,0& *)0,4@+*%)+8& 34 *)& -%0*3)0& 34& ]GVba_;!NL& E3>%9%1<& >%
*)& 7*//-%5(2%/& >37%)<& >$3& /%9%-3' .$%& -3>%1& %T.1%7*.*%0<& ()/& .$%& +,.()%5 $(9%&0.,/*%/&+(0%0&>*.$&(--&.$%&0.%1%3.8'5
%18.$%7(.3,0& 0,:+,.()%3,0& )3/,-%0 3,0& -%0*3)0& /%9%-3'& 730.-8& /,1*)2& .$% *+(-& +-*)*+35'(.$3-32*+& 4%(.,1%0& 34& .$*0
()/&'-(A,%0&3)&.$%&'30.%1*31& (0'%+.0&34 +3-/& 73).$0& 34& .$%& >*).%1;& d%0*3)0& (1% +3)/*.*3)& *)& >$*+$& 0%1*(-& 0%+.*3)0& /3
.$%& -3>%1& -%20;& c4.%)<& .$%& *)93-9%/& %T5 ,0,(--8& .%)/%1& :,.& 7(8& :%& *)/3-%).& 31 )3. /%73)0.1(.%& @)/*)20& 34& 9(0+,-*.*0;
.1%7*.*%0& (-03& 0$3>& %18.$13+8()30*0< '(*)4,-& ,)/%1& '1%00,1%;& #$%& +3,10%& *0 #$%1%431%<&>%&/3&)3.&+3)0*/%1&9(0+,-*.*0
$%(98&+3-,7)5-*C%&+(-9%0<&%18.$%7(&0,15 '13.1(+.%/<& ()/& 1%+,11%).& %'*03/%0& 39%1 (0&(&0".*,9/&,.(.&+1*.%1*3)&.3&%0.(:-*0$&.$%
13,)/*)2&43--*+,-(1&'31%0<&()/&+,.*0&7(15 8%(10<&%9%)&/%+(/%0<&(1%&+3773); /*(2)30*0 %18.$%7(& *)/,1(.,7& 34& V(H*)
731(.(& M=*2;& KL5KO;& S0,(--8<& 0,:+,.()%5 B0& *)& 3.$%1& .8'%0& 34& '())*+,-*.*0<& .$% >$%)& 3.$%1& +$(1(+.%1*0.*+& @)/*)20& (1%
3,0& )3/,-%0& :%+37%& (/$%1%).& .3& .$% $*0.3'(.$3-32*+& @)/*)20& *)& -%0*3)0& 34 '1%0%).<& ()/& .$%& )(7%& *%)'+*!&, ".3/%&#
0C*)& 0,14(+%<& ,-+%1(.%& M=*2;& KL5PO<& ()/ ]GVba_& 9(18& >*.$& .$%& %93-,.*3)& 34& .$% '/!, (1, 5&6".& *0<& .3& ,0<& 731%& (''13'1*(.%
!-I .$%)& $%(-& >*.$& 0+(11*)2;& #$%& '13+%00& *0 -%0*3)0;!J\&G)&%(1-8&-%0*3)0<&.$%&4(.&-3:,-%0 .$()&)3/,-(1&9(0+,-*.*0;
D F G
/012345"67- &<J=A7N:'59R4<:=4N'>U'*:B59i9>R4K:<';:6@4K5=56Y'DE'+K595@:K':LL7:<:9@7W'&<J=A7N:=>46'64O@4=:97>46'9>R4K76'=A:='4K@7<:=7'>9'=A7'L>6=7<5><
:6L7@=6'>U'=A7'K>S7<'K7T6Y'FE'/56=>L:=A>K>TJW'#@:9959T'L>S7<'6A>S59T':'N>6=KJ'K>O4K:<'L:995@4K5=56Y'GE'/5TA7<'N:T95M@:=5>9'6A>S59T'7[=7965;7'97@<>656'>U'=A7
:R5L>@J=76':9R'97@<>=5B59T';:6@4K5=56'>U'=A7'6N:KK';794K76'>U'=A7'U:='K>O4K7Y
G)&.$30%&'(.*%).0&>*.$&(&0.13)2-8&'30*5 '%1.%)0*3);!QL& d*'3/%17(.30+-%130*0& +() .*3)& 34& +('*--(1*%0& ()/& 9%),-%0& *)& .$%
.*9%& [().3,T& .%0.& 1%(+.*3)& 31& >$%)& 2: (-03&7()*4%0.&(0&()&(+,.%&'13+%00&.$(.&*0 '('*--(18&/%17*0<&@:130*0<&()/&(:,)/().
'/8*%-/4(0"0& DaB& *0& /%73)0.1(.%/& *)& .$% 41%A,%).-8& 7*0/*(2)30%/& (0& %18.$%7( $%730*/%1*)&/%'30*.*3);
+,.()%3,0& :*3'08& 0'%+*7%)& :8& '3-87%15 )3/30,7; #1%(.7%).&34&0+-%130*)2&'())*+,-*.*0&*0
(0%& +$(*)& 1%(+.*3)& .%+$)*A,%0<& (& 4,-- E*0.3'(.$3-32*+&@)/*)20&*)&0+-%130*)2 /*4@+,-.;& G)& 037%& +(0%0<& 0.()/(1/& 7%(5
+3,10%&34&\&73).$0&34&().*.,:%1+,-30*0&.1*5 '())*+,-*.*0&9(18&(++31/*)2&.3&.$%&%93-,5 0,1%7%).0& 431& 9%)3,0& *)0,4@+*%)+8& 34
'-%5(2%).&.$%1('8&*0&1%+377%)/%/;!N\I!QK .*3)& 34& .$%& -%0*3)0;& G)& .$%& %(1-8& 0.(2%0< .$%& -3>%1& %T.1%7*.*%0<& *)+-,/*)2& +375
U3.(00*,7&*3/*/%&*0&(-03&()&%44%+.*9%&()/ .$%1%&*0&(&0'(10%&*)6(77(.318&*)@-.1(.% '1%00*3)&0.3+C*)20<&$(9%&:%%)&,0%4,-&:,.
1('*/& .1%(.7%).& 431& %18.$%7(& *)/,1(.,7 -(12%-8& +37'30%/& 34& -87'$3+8.%0& :%5
34& V(H*);!!J<!!Q& B//*.*3)(-& $%-'4,-& 7%(5 .>%%)&.$%&+3--(2%)&:,)/-%0&34&.$%&0%'.(;
0,1%0& *)+-,/%& 0,''31.*)2& 0.3+C*)20<& :%/
1%0.<& .1%(.7%).& 34& .$%& 9%)3,0& *)0,4@5
G)& (//*.*3)<& (1%(0& 34& *0+$%7*+& )%+130*0
+$(1(+.%1*H%/&:8&'(-%<&07(--<&()/&(),+-%5
#+3&%$#".E
+*%)+8& 34& .$%& -3>%1& %T.1%7*.*%0<& ()/
31(--8& (/7*)*0.%1%/& )3)0.%13*/(-& ().*5
(.%/&(/*'3+8.%0&(1%&43,)/& (.&.$%& +%).%1
34& .$%& 4(.& -3:,-%;& ?7(--& -3:,-(1& 9%00%-0
0-.."+)3","#
*)6(77(.318&/1,20; (''%(1&+3)2%0.%/<&()/&037%.*7%0&.$%1%
(1%& ),7%13,0& %T.1(9(0(.%/& %18.$135
+8.%0<& $%730*/%1*)<& ()/& )%+130*0& 34& %)5
-,'-'E3-.+&'
F$#,3C'3$*)3-%'0-.."+)3","#' /3.$%-*(-&+%--0&>*.$*)&.$%&(1%(0&34&4(.&)%5 +K595@:K
G",/$),'H-#+)3","# +130*0;& G)& 4,--8& /%9%-3'%/& -%0*3)0<& .$%
"9R4<:=7R'LK:8476'>U'S>>RPK5I7'@>9656P
#@K7<>659T'0:995@4K5=56' 0%'.(& (''%(1& .$*+C%)%/& ()/& @:13.*+<& 1%5
=79@J'>9'=A7'K>S7<'K7T6'S5=A':'6=>@I59T'
0,-.*)2& *)& /1(7(.*+& (.13'$8& 34& .$%& 0,:5
k35L>R7<N:=>6@K7<>656l R56=<5O4=5>9
+,.()%3,0& 4(.;& G)& .$*0& 0.(2%<& .$%& *)6(75
?+-%130*)2&'())*+,-*.*0&*0&(&+$13)*+<&0,:5 7(.318& *)@-.1(.%& *0& +37'30%/& 34 +A<>95@';79>46'5964UM@579@JQ':<=7<5:K'
+,.()%3,0&/*031/%1&+$(1(+.%1*H%/&:8&*)5 -87'$3+8.%0<& $*0.*3+8.%0<& ()/& 43(78 56@A7N5:Q':9R'7L56>R76'>U'=A<>NO>P
/,1(.%/&>33/8&'-(A,%0&>*.$&%18.$%7(< 7(+13'$(2%0;& #$%& '%1*'$%18& 34& .$%& 4(. LAK7O5=56
%/%7(<& .%-()2*%+.(0*(<& ()/& $8'%1'*25 -3:,-%& 34.%)& 0$3>0& -*'3'$(2*+& 21(),-35 04KN>9:<J'AJL7<=7965>9'59'L:=579=6'
7%).(.*3);& G.& *)93-9%0& .$%& -3>%1& -%20< 7(0& >*.$& 0+(..%1%/& -87'$3+8.%0& ()/ S5=A'6J6=7N5@'6@K7<>656':9R'6@K7<>659T'
>*.$&(&0.3+C*)2&/*0.1*:,.*3);!QP&#$%&'135 '-(07(&+%--0;&G)&-(.%50.(2%&-%0*3)0<&0%'.(- L:995@4K5=56
+%00& *0& ,0,(--8& (003+*(.%/& >*.$& +$13)*+ 0+-%130*0& *0& .$%& 7(*)& $*0.3'(.$3-32*+
9%)3,0& *)0,4@+*%)+8<& (1.%1*(-& *0+$%7*(< @)/*)2;& #$%& 4(.& -3:,-%0& :%+37%& 07(--
()/& '1%9*3,0& %'*03/%0& 34&.$137:3'$-%5 /,%&.3&-*'3'$(2*+&4(.&)%+130*0<&()/&.$%1%
/56=>L:=A>K>TJ
:*.*0&M0%%&F$(';&!PQO;&#$%&/%4317*)2&(.5 (1%& 4(..8& 7*+13+80.0& >*.$& 43+*& 34& 7%75 F>6=KJ'K>O4K:<'L:995@4K5=56'S5=A>4='
13'$8& 34& .$%& 0,:+,.()%3,0& 4(.& 0%+3)/5 :1()3+80.*+& +$()2%0;& #$%0%& +3)0*0.& 34 ;:6@4K5=56
(18& .3& %T.%)0*9%& /%%'& @:130*0& ()/ (731'$3,0& %30*)3'$*-*+& 31& (7'$35 "6@A7N5@'97@<>656':='=A7'@79=7<'>U'=A7'U:='
0+-%130*0& 1%0%7:-%0& ()& *)9%1.%/& :3..-%; '$*-*+&7(.%1*(-<&037%.*7%0&>*.$&(&+311,5 K>O4K7
#$%& 9(0+,-(1& /*031/%1& -%(/0& .3& 0-,/2*)2 2(.%/& (''%(1()+%<& -*)*)2& +80.*+& 0'(+%0
*)& .$%& -3:,-(1& +('*--(1*%0<& >$*+$& 1%0,-.0 .$(.&1%0,-.& 4137&4(.& )%+130*0;&d*'37%75 ,A5@I797R':9R'MO<>=5@'67L=:':9R':=<>LAJ'
*)& *0+$%7*(& ()/& )%+130*0& 34& .$%& +%).1(- :1()3,0& 31& 7%7:1()3+80.*+& 4(.& )%+135 >U'=A7'64O@4=:97>46'U:=
'31.*3)&34&.$%&4(.&-3:,-%;&f%+%).&0.,/*%0 0*0&*0&(&41%A,%).&@)/*)2&*)&-(.%50.(2%&-%5 (<78479='N7NO<:9>@J6=5@'@A:9T76
$(9%& /%73)0.1(.%/& .$(.& '(.*%).0& >*.$ 0*3)0&34&0+-%130*)2&'())*+,-*.*0&:,.&*0&)3.
080.%7*+& 0+-%130*0& ()/& 0+-%130*)2& '()5 %T+-,0*9%&.3&()8&.8'%&34&'())*+,-*.*0;!Q\ ,<7:=N79=
)*+,-*.*0& 41%A,%).-8& $(9%& ',-73)(18& *)5 G.& $(0& :%%)& /%0+1*:%/& *)& -3)250.()/*)2
4(1+.*3)0& ()/& ',-73)(18& $8'%1.%)0*3); -%0*3)0&34&7()8&9(1*().0&34&-3:,-(1&'()5 +>NL<7665>9'6=>@I59T6
G)&.$%0%&'(.*%).0<&.$%&.$137:30*0&+(,0%/ )*+,-*.*0;& G)& ()8& 0.(2%& 34& .$%& '13+%00< #4@@766U4K'<76L>967'=>'6=:9>B>K>K'59'
:8&9%)3,0&$8'%1.%)0*3)&34&.$%&-%2&*0&.$% +$()2%0& 34& 0.(0*0& /%17(.*.*0& (1%& '1%0%). 6>N7'@:676
7(*)&%.*3-32*+&4(+.31&431&',-73)(18&$85 *)&.$%&0,'%1@+*(-&/%17*0<&>*.$&'13-*4%1(5
!-!
)3.& +,1(.*9%;& ?37%& (,.$310& $(9%& 1%5 3,0&-%0*3)0&(''%(1&/,1*)2&.$%&@10.&/(80&34 34L46'0:995@4K5=56'k34L46'
'31.%/& .$(.& .$%& ()(:3-*+& 0.%13*/& 0.()35 -*4%;&d%0*3)0&,0,(--8&:%2*)&3)&.$%&:,..3+C0
&<J=A7N:=>646'0<>U49R46l M?%%
H3-3-& *7'139%0& .$*0& +3)/*.*3)& 1('*/-8 ()/& .$*2$0& (0& /*44,0%<& 8%--3>5>$*.%<
F$(';&!QKO
()/&+3)0*0.%).-8;!K" >33/8&*)/,1(.*3)&34&.$%&0C*)&.$(.&1('*/-8
%T.%)/0& .3& *)93-9%& -(12%& (1%(0& 34& .$% d,',0&'())*+,-*.*0&*0&(&+$13)*+&1%+,11%).
:3/8<& 1%0,-.*)2& *)& *773:*-*.8& 34& .$%& %T5 '())*+,-*.*0& .$(.& *0& 731%& 41%A,%).& *)
+:K@5LAJK:[56 M?%%&F$(';&!Q!O
.1%7*.*%0;& #$%& '132)30*0& *0& '331<& ()/ >37%)&.$()&7%);&G.&*0&(&7*-/&9(1*().&34
F(-+*'$8-(T*0&*0&()&,)+3773)&()/&'331-8 730.&*)4().0&/*%&>*.$*)&(&4%>&/(80;!L\&B -,',0&%18.$%7(.30,0<&()/&730.&'(.*%).0
,)/%10.33/& +,.()%3,0& '13+%00;!K!I!KN& #$% $*2$%1& 1(.*3& 34& 0(.,1(.%/& .3& ,)0(.,1(.%/ 0$3>&0,:+,.()%3,0&)3/,-%0&(0&.$%&3)-8
'13+%00& 3++,10& (-730.& %T+-,0*9%-8& *)& '(5 4(..8& (+*/0& *)& )%3)(.%0<& >$*+$& *0& %9%) +-*)*+(-& 7()*4%0.(.*3)& 34& .$%& /*05
.*%).0& >*.$& %)/50.(2%& +$13)*+& 1%)(-& 4(*-5 $*2$%1& *)& '1%7(.,1%& ()/& 07(--54315/(.% %(0%;R"J<R"N& #$%& -%0*3)0& %T$*:*.& (& '1%/*5
,1%&>$3&(1%&,)/%123*)2&/*(-80*0&31&$(9% *)4().0<&$(0&:%%)&'30.,-(.%/&(0&'1%/*0'305 -%+.*3)& 431& .$%& 4(+%<& 0$3,-/%10<& ,''%1
:%%)& .1()0'-().%/e& 1(1%-8& '(.*%).0& >*.$ *)2&.3&0+-%1%7(&)%3)(.31,7;!\" (170<& :(+C<& ()/& :,..3+C0<& (1%(0& *)41%5
)317(-& 1%)(-& 4,)+.*3)& $(9%& :%%)& 1%5 B.& -3>5'3>%1& 9*%><& +,.()%3,0& -%0*3)0 A,%).-8&*)93-9%/&*)&3.$%1&43170&34&'()5
'31.%/;!KQ&#$%&7(*)&4%(.,1%&*0&.$%&+(-+*@5 34&0+-%1%7(&)%3)(.31,7&/3&)3.&-33C&-*C% )*+,-*.*0& M0%%& %=*2;&KL5P;R&*)&3)5-*)%&%/*5
+(.*3)& 34& .$%& *).*7(& 34& .$%& (1.%1*%0& ()/ .8'*+(-&'())*+,-*.*0&:%+(,0%&.$%&*)6(77(5
(1.%1*3-%0&34&.$%& /%%'%1& /%17*0& ()/&0,:5
+,.*0<&1%0,-.*)2&*)&)%+130*0&()/&,-+%1(.*3)
.318& *)@-.1(.%& *0& 0'(10%& 31& %9%)& (:0%).& *)
.$%& 0,:+,.()%3,0& 4(.<& 1%6%+.*)2& .$%& '331 3)0)#
M0%% %=*2;& KL5P;!B& *)& 3)5-*)%& %/*.*3)O; *77,)3-32*+& 1%0'3)0%& 34& .$%& 0%9%1%-8& *--
[30.&(44%+.%/&'(.*%).0&$(9%&%-%9(.%/&0%5
1,7&+(-+*,7&()/&'$30'$(.%&-%9%-0<&34.%)
*)4().;!\!&#$%1%&*0&-*..-%&%9*/%)+%&34&4(.&)%5
+130*0<&()/&.$%&730.&+$(1(+.%1*0.*+&4%(.,1%
0-.."+)3","#
*)& .$%& +3).%T.& 34& .$%& 0%+3)/(18& $8'%15
'(1(.$813*/*07& (003+*(.%/& >*.$& 1%)(-
*0& .$%& '1%0%)+%& 34& 1(/*(--8& (11()2%/<& )%%5
/-%50$('%/&+-%4.0&*)&(/*'3+8.%0;&#$%&0(7%
-,'-'E3-.+&'
4(*-,1%;& E3>%9%1<& +(-+*,75'$30'$31,0 )%%/-%50$('%/& +180.(-0& $(9%& :%%)& */%).*5
7%.(:3-*07& *0& )317(-& *)& 037%& '(.*%).0 @%/&*)&9*0+%1(-&(/*'3+8.%0&*)&(,.3'08&0.,/5
>*.$& +(-+*'$8-(T*0<& 0,''31.*)2& .$%& */%( *%0&34&*)4().0&>$3&/*%&(0&+3)0%A,%)+%&34
.$(.& 3.$%1& 4(+.310& (1%& (-03& *)93-9%/& *) 0+-%1%7(&)%3)(.31,7;!\R<!\J
'(.$32%)%0*0; #1%(.7%).& 34& 0+-%1%7(& )%3)(.31,7
0$3,-/& 43+,0& 3)& .$%& ,)/%1-8*)2& /*0%(0%;
?80.%7*+&+31.*+30.%13*/0&(1%&*)%44%+.*9%&:,.
$[:K>656 .$%1%& *0& %9*/%)+%& .$(.& 1%'%(.%/& %T+$()2% +K595@:K
cT(-30*0&*0&()&%T.1%7%-8&1(1%&'())*+,-*5 .1()04,0*3)0&7(8&1%/,+%&731.(-*.8;!\N &<J=A7N:=>46'9>R4K76':='=A7'U:@7Q'6A>4KP
.*0& 0%%)& *)& +3)X,)+.*3)& >*.$& 1%)(-& 4(*-5 R7<6Q'4LL7<':<N6Q':9R'O4==>@I6
,1%;& cT(-30*0& 7(8& :%& '1*7(18& M*)$%15
+>KR'0:995@4K5=56 07<656=79=':<7:6'>U'K5L>:=<>LAJ'>9'
*.%/O&31&0%+3)/(18&M(+A,*1%/O; <7T<7667R'K765>96
F,.()%3,0& *)93-9%7%).& *0& 731%& 41%5 F3-/& '())*+,-*.*0&*0&(-03& 731%& 41%A,%).
A,%).&*)&0%+3)/(18&.$()&*)&'1*7(18&3T5 *)&*)4().0&43--3>*)2&%T'30,1%&.3&0%9%1%
(-30*0;&d%0*3)0&+3)0*0.&34&7*-*(18&/%'305 +3-/;!\QI!\P& #$*0& 9(1*().& 34& '())*+,-*.*0 /56=>L:=A>K>TJ
*.0& 34& +(-+*,7& 3T(-(.%& +180.(-0& >*.$*) $(0& :%%)& /%0+1*:%/& *)& .$%& +$%%C0& 34 $9KJ'`_'L7<@79='=>'a_'L7<@79='>U'=A7'
.$%&/%17*0&34&.$%&'(-7(1&(0'%+.0&34&.$% +$*-/1%)&0,+C*)2&*+%&+,:%0<&*+%&'(+C0<&31 L:=579=6'S5=A'K4L46'L:995@4K5=56'6A>S'U7:P
4*)2%10;!P\<!L!&#$*0&+(-+*,7&/%'30*.*3)&*)5 *+%& -3--*%0& M'3'0*+-%0O<!\L<!\\& ()/& *)& .$% =4<76'>U'R56@>5R'K4L46'7<J=A7N:=>646':='
/,+%0&(&21(),-37(.3,0& 1%0'3)0%& (13,)/ .$*2$0& ()/& :,..3+C0& 34& >37%)& >$3 =A7'R7<N:KP7L5R7<N:K'X49@=5>9Y
.$%& +180.(-0;& G)& +3).1(0.<& +,.()%3,0& -%5 1*/%& $310%0& >%(1*)2& .*2$.& .13,0%10& /,15
0*3)0& *)& '1*7(18& 3T(-30*0& (1%& 1(1%<& ()/< F>6=KJ'K>O4K:<'L:995@4K5=56'S5=A>4=';:6@4P
*)2& .$%& +3-/& 73).$0<& 1%0,-.*)2& *)& 3:5
>$%)& '1%0%).<& .$%8& +3)0*0.& 34& -*9%/3& 1%5 K5=56Y
0.1,+.*3)& 34& .$%& :-33/& 0,''-8& .3& .$%
.*+,-(1*0& ()/& (+1(-& 2()21%)%;!PL<!LRI!LK 0,:+,.()%3,0&4(.&M%A,%0.1*()&'())*+,-*5 "9V:NN:=><J'59MK=<:=7'L<7R>N59:9=KJ'
E*0.3'(.$3-32*+& 0.,/8& 34& .$%& +,.()%5 .*0O;R""<R"!& #$%& *)93-9%/& (1%(0& 0$3>& *)5 @>NL>67R'>U'KJNLA>@J=76':9R'LK:6N:'
3,0& -%0*3)0& 34& '1*7(18& 3T(-30*0& 0$3>0 /,1(.%/& %18.$%7(.3,0&'-(A,%0& >*.$&*--5 @7KK6Y
+(-+*,7& /%'30*.*3)& ()/& 3T(-(.%& +1805 /%@)%/&7(12*)0; $U=79Q'KJNLA>5R'U>KK5@K76'S5=A'T7<N59:K'
.(-0& *)& .$%& 9%00%-& >(--0<& >*.$& (& $*0.35 #$%& '())*+,-*.*0& *0& 730.-8& -3:,-(1 @79=7<6Y
'(.$3-32*+&'*+.,1%&A,*.%&0*7*-(1&.3&.$(. >*.$& ()& *)6(77(.318& *)@-.1(.%& 34& -875 #@K7<>=5@'@>KK:T79'O49RK76':='64O@4=:97P
34&+(-+*'$8-(T*0;!PL<!LRI!LP '$3+8.%0& ()/&$*0.*3+8.%0&*)& .$%&4(.& -3:5
>46'67L=:Y
,-%0;& #$%& '('*--(18& /%17*0& 7(8& 0$3>
7(1C%/& %/%7(& (0& >%--& (0& (& 0,'%1@+*(- /J:K597'97@<>656':9R':=<>LAJ'>U'=A7'79=5<7'
#@K7<7N:'.7>9:=><4N M?%%
()/&/%%'&'%1*9(0+,-(1&-87'$3+8.*+&*)@-5 U:='K>O4K7'59'K:=7P6=:T7'K765>96Y
F$(';&!"KO
.1(.%<&+-30%-8&1%0%7:-*)2&.$%&$*0.3'(.$35
a3>(/(80<&0+-%1%7(&)%3)(.31,7&*0&9%18 -32*+&'*+.,1%&34&'%1)*30*0;R"R ,<7:=N79=
,)+3773)<& '13:(:-8& /,%& .3& .$%& *75 G4&.$%&*)93-9%/&(1%(&*0&C%'.&>(17<&.$%
'139%7%).0&*)&)%3)(.(-&+(1%;&[30.&%T(75 '-(A,%0& 0-3>-8& 034.%)& ()/& 1%03-9%& *) +><=5@>6=7<>5R6'49R7<'>@@K465>9'><'59'
'-%0& 34& .$*0& 1(1%& /*031/%1& >%1%& /%0+1*:%/ /(80& >*.$3,.& 0+(11*)2;& d330%1& .13,0%10 59=<:K765>9:K'59X7@=5>96
*)&-3>5>%*2$.&'1%7(.,1%&)%>:31)0&>*.$ 0$3,-/& :%& 1%+377%)/%/& 431& >37%) #A><='><:K'@>4<676'>U'@><=5@>6=7<>5R6'><'
0%'0*0<&+3)2%)*.(-&$%(1.&/*0%(0%<&()/&3.$%1 >$3& 1*/%& $310%0;& _(03/*-(.31& /1,20& (1% AJR<>[J@AK><>84597
7(X31& '%1*)(.(-& '13:-%70;& #$%& (44%+.%/ )3.& %44%+.*9%& *)& '1%9%).*)2& 31& .1%(.*)2 !:L6>97
:(:8&*0&2%)%1(--8&0%9%1%-8&*--<&()/&+,.()%5 +3-/&'())*+,-*.*0;
!-"
'%1*'(13.*/& 4(.& .*00,%;R!"<R!!& B)& *037315 3,0& -%0*3)0& 34& '()+1%(.*+& '())*+,-*.*0& *0
0-.+%&-,"+ '$*+& '$%)37%)3)& *0& 41%A,%).-8& 0%%)& *) (++37'()*%/& :8& (+,.%& (1.$1*.*0& .$(.& 1%5
'(.*%).0& >*.$& -,',0& '())*+,-*.*0e& 0,:+,5 0,-.0& 4137& )%+130*0& *)& '%1*(1.*+,-(1& 4(.
0-.."+)3","# .()%3,0&%18.$%7(.3,0&)3/,-%0&34.%)&/%5
9%-3'&31&1%+,1&(.&.$%&0*.%0&34&.1(,7(<&*)5
.*00,%;RJN<RJP<RQLIRKJ& B,.3'08& 0.,/*%0& 34
'(.*%).0&>*.$&'()+1%(.*+&+(1+*)37(&$(9%
-,'-'E3-.+&' X%+.*3)<&()/&:*3'08;R!R<R!J /%73)0.1(.%/&.$(.&.$%&0(7%&.8'%&34&%)5
H87(.*+&4(.&)%+130*0&(-03&3++,10&*)&:3)%
7(113><RNK& '-%,1(-<RN!<RN\& 1%.13'%1*.35
0:9@<7:=5@'0:995@4K5=56
)%(-<&()/&7%0%).%1*+&4(.;RN\<RQ\
U()+1%(.*+& '())*+,-*.*0<& (-03& )(7%/& *.# U()+1%(.*+& %)H87%0<& 730.-8& -*'(0%<
6)!&'"-, 1&', .*-%(0"0<& $(0& :%%)& (003+*(.%/ .$(.& %0+('%& *).3& .$%& :-33/& 4137& .$%& *)5
>*.$&0%9%1(-&'()+1%(.*+&/*0%(0%0<&*)+-,/5 6(7%/&'()+1%(0&0%%7&.3&:%&1%0'3)0*:-%
*)2&(+,.%& ()/&+$13)*+&'()+1%(.*.*0<&'()5 431&.$%&0,:+,.()%3,0&4(.&)%+130*0&*)&%)5
+1%(.*+& +(1+*)37(<& :3.$& (+*)(1& +%--& ()/ H87(.*+& '())*+,-*.*0;RJ\<RQP& #$%& @)/*)2
+K595@:K *0-%.& +%--& '()+1%(.*+& +(1+*)37(0<& '()5 34& '()+1%(.*+& -*'(0%& *)& .$%& -%0*3)0& 34
&<J=A7N:=>46'64O@4=:97>46'9>R4K76'=A:=' +1%(0& /*9*0,7<& '()+1%(.*+& '0%,/3+80.0< '()+1%(.*+&'())*+,-*.*0RQP&()/&.$%&*77,5
>U=79'4K@7<:=7'6L>9=:97>46KJY 9(0+,-35'()+1%(.*+& @0.,-(%<& ()/& /1,25 )3$*0.3+$%7*+(-& /%73)0.1(.*3)& >*.$
*)/,+%/& '()+1%(.*.*0;RJ"IRQK& G)& 037%& '(5 ().*5-*'(0%& 73)3+-3)(-& ().*:3/*%0& 34
,A7'K>S7<'7[=<7N5=576Q':<>49R'=A7':9IK76' .*%).0& >*.$& '()+1%(.*+& '())*+,-*.*0<& .$% .$(.&%)H87%&>*.$*)&.$%&)%+13.*+&(/*'35
:9R'I9776Q':<7'=A7'N>6='U<78479=KJ' 0C*)&-%0*3)0&(1%&.$%&'1%0%).*)2&4%(.,1%&34 +8.%0<RJL&0,''31.& .$%&'(.$32%)*+&13-%&34
59;>K;7R'65=76Y
.$%&'()+1%(.*+&/*0%(0%;&G)&037%&'(.*%).0< '()+1%(.*+& -*'(0%;& E3>%9%1<& 037%& *)/*5
%7T<7665>9'>U'=A7'@4=:97>46'K765>96' $3>%9%1<&.$%1%&*0&)3&/%73)0.1(:-%&'()5 9*/,(-&0,0+%'.*:*-*.8&7(8&(-03&:%&*7'315
:66>@5:=7R'S5=A'L:9@<7:=5=56Q'O4='=A>67' +1%(.*+& /*0%(0%<& (-.$3,2$& $*2$& 0%1,7 .().&:%+(,0%&.$%1%&*0&(&+3).1(0.&:%.>%%)
:66>@5:=7R'S5=A'L:9@<7:=5@'@:<@59>N:' -%9%-0& 34& '()+1%(.*+& -*'(0%& 34& ,)C)3>) .$%& 1%-(.*9%& 41%A,%)+8& 34& '(.*%).0& >*.$
=79R'=>'L7<656=Y 31*2*)&$(9%&:%%)&/%.%+.%/;RQP '()+1%(.*.*0& >*.$& $*2$& 0%1,7& -%9%-0& 34
F,.()%3,0& -%0*3)0& 34& '()+1%(.*+& '()5 -*'(0%&()/&.$%&1(1%&3++,11%)+%&34&'()+1%5
/56=>L:=A>K>TJ )*+,-*.*0&(''%(1&(0&%18.$%7(.3,0<&0,:+,5 (.*+&'())*+,-*.*0;RKN&=,1.$%1731%<&*)&9*.13
.()%3,0& )3/,-%0& .$(.& 34.%)& ,-+%1(.% *)9%0.*2(.*3)0& $(9%& 4(*-%/& .3& 1%'13/,+%
F>6=KJ'K>O4K:<'L:995@4K5=56'S5=A>4=';:6@4P 0'3).()%3,0-8&()/&%T,/%&()&3*-8&:13>) '()+1%(.*+&'())*+,-*.*0&>$%)&)317(-&$,5
K5=56 7(.%1*(-<& >$*+$& 1%0,-.0& 4137& -*A,%4(+5 7()&0,:+,.()%3,0&4(.&*0&*)+,:(.%/&>*.$
"9=7967'97@<>656'>U'=A7':R5L>@J=76':='=A7' .*3)& )%+130*0& 34& (/*'3+8.%0& M=*2;& KL5LO; .$%& 0%1,7& 34& (& '(.*%).& >*.$& $*2$& -%9%-0
@79=7<'>U'=A7'U:='K>O4K7 #$%& 730.& 41%A,%).-8& *)93-9%/& 0*.%0& (1% 34& '()+1%(.*+& -*'(0%<& .18'0*)<& ()/& (785
EA>6=':R5L>@J=76'S5=A'M97KJ'T<:94K:<':9R' .$%&/*0.(-&'(1.0&34&.$%&-3>%1&%T.1%7*.*%0 -(0%;RJ\& ^%--5/3+,7%).%/& %T(7'-%0& 34
()/&(13,)/&.$%&()C-%0&()/&C)%%0RQPe&.$% '()+1%(.*+& '())*+,-*.*0& $(9%& (-03& :%%)
O:6>LA5K5@'N:=7<5:K'S5=A59'=A75<'@J=>LK:6N
)3/,-%0& 34& %)H87(.*+& 4(.& )%+130*0& $(9% /%0+1*:%/&*)&'(.*%).0&>*.$&)317(-&0%1,7
-%00& +3773)-8& :%%)& /%0+1*:%/& 3)& .$% -%9%-0&34&(--&'()+1%(.*+&%)H87%0;RKQ<RKK
,<7:=N79= .$*2$0<& :,..3+C0<& +(-9%0<& (170<& ()/& (:5 E*0.3'(.$3-32*+(--8<& '()+1%(.*+& '()5
/37*)(-&0C*);&F,.()%3,0&-%0*3)0&34&'()5 )*+,-*.*0& *0& (& 730.-8& -3:,-(1& '())*+,-*.*0
,<7:=N79='>U'=A7'49R7<KJ59T'L:9@<7:=5@'
R567:67 +1%(.*+&'())*+,-*.*0&(003+*(.%/&>*.$&'()5 >*.$& *).%)0%& )%+130*0& 34& .$%& (/*'3+8.%0
+1%(.*.*0& ,0,(--8& ,)/%123& 1%03-,.*3) (.& .$%& +%).%1& 34& .$%& 4(.& -3:,-%& M0%%& =*2;
>$%)& .$%& *)6(77(.318& %'*03/%& 1%5 KL5LVO;RKP& #$%& +$(1(+.%1*0.*+& 4%(.,1%0
.*3)O;& G)& 1(1%& *)0.()+%0<& -%0*3)0& 34& -,',0 21%00%0<&*)&+3).1(0.&>*.$&.$%&+$13)*+&()/ +3)0*0.&34&+3(2,-(.*9%&)%+130*0&34&.$%&(/5
'())*+,-*.*0& $(9%& :%%)& /%0+1*:%/& *)& .$% '%10*0.%).& )3/,-%0& 34& 0,:+,.()%3,0& 4(. *'3+8.%0<& >$*+$& -%(/0& .3& 2$30.& (/*'35
0,:+,.()%3,0& 4(.& 34& .$%& :1%(0.& MY-,',0 )%+130*0&*)&'(.*%).0&>*.$&'()+1%(.*+&+(15 +8.%0;&g$30.&(/*'3+8.%0&(1%&)%+13.*+&(/5
7(0.*.*0ZO<R"QIR"P& 31:*.(-& 4(.<R"L<R"\& ()/ +*)37(;RQL& c4.%)<& .$%& 3)0%.& 34& +,.()%5 *'3+8.%0& .$(.& $(9%& -30.& .$%*1& ),+-%*& ()/
D F G
/012345"676 0:9@<7:=5@'L:995@4K5=56Y'DE5+K595@:K':LL7:<:9@7W'&<J=A7N:=>46'64O@4=:97>46'9>R4K76'=A:='4K@7<:=7'6L>9=:97>46KJ':9R'7[4R7':9'>5KJ'O<>S9
N:=7<5:KY'FE'/56=>L:=A>K>TJW'#@:9959T'L>S7<'6A>S59T':'N>6=KJ'K>O4K:<'L:995@4K5=56'S5=A'59=7967'97@<>656'>U'=A7':R5L>@J=76':='=A7'@79=7<'>U'=A7'U:='K>O4K7Y
GE'/5TA7<'N:T95M@:=5>9'6A>S59T'TA>6=':R5L>@J=76Q'SA5@A'@>9656='>U'97@<>=5@':R5L>@J=76'=A:='A:;7'K>6='=A75<'94@K75':9R'6A>S':'M97KJ'T<:94K:<':9R'O:6>LA5K5@'N:P
=7<5:K'S5=A59'=A75<'@J=>LK:6N'R47'=>'@:K@5M@:=5>9Y
!--
.18'0*)& *0& ()& (+,.%5'$(0%& 1%(+.().<& ()/
]P-.,",%C0#".P
0$3>& (& @)%-8& 21(),-(1& ()/& :(03'$*-*+
7(.%1*(-& >*.$*)& .$%*1& +8.3'-(07& /,%& .3 ()&*03-(.%/&)317(-&0%1,7&9(-,%&7(8&)3.
+(-+*@+(.*3)& M0%%& =*2;& KL5LFO;& c4.%)< :%&*)/*+(.*9%&34&.$%&(:*-*.8&34&.$%&:3/8&.3
2$30.& (/*'3+8.%0& (''%(1& 213,'%/& *)
07(--& +-,0.%10& (.& .$%& +%).%1& 34& .$%& 4(.
!&("+"&.+C ,'1%2,-(.%& .$%& '13.%*)& *)& 0.1%00& 0*.,(5
.*3)0;&#$%1%431%<&.$%&0%1,7&-%9%-0&34&.$%
-3:,-%<& >$%1%(0& ()& *)6(77(.318& *)@-5
.1(.%&34&)%,.13'$*-0&*0&'1%0%).&(.&.$%&'%5
0-.."+)3","# %)H87%& ()/& .$%& !5().*.18'0*)& '$%)35
.8'%& +()& 3)-8& :%& 34& /*(2)30.*+& 9(-,%& *)
1*'$%18& ()/& %T.%)/0& *).3& .$%& (/X(+%).
0%'.(;&g$30.&(/*'3+8.%0&1%0,-.&4137&.$% -,'-'E3-.+&' .$%& '13'%1& +-*)*+(-& ()/& $*0.3'(.$3-32*+
0%..*)2;
$8/13-8.*+&(+.*3)&34&'()+1%(.*+&%)H87%0 !5B).*.18'0*)&*0&(&0%1*)%&'13.%(0%&*)5
3)&4(.<&43--3>%/&:8&+(-+*,7&/%'30*.*3)< $*:*.31& .$(.& 730.-8& *)$*:*.0& .18'0*)& (+5
(& '13+%00& C)3>)& (0& 0&;(."<-&'"(.;& G) .*9*.8& :,.& *0& (-03& (& '3.%).& *)$*:*.31& 34
-(.%50.(2%&-%0*3)0&34&'()+1%(.*+&'())*+,5 +$873.18'0*)<& '-(07*)<& .$137:*)<& )%,5
-*.*0<&4(.&)%+130*0&()/&+(-+*@%/&2$30.&(/*5 .13'$*-*+& %-(0.(0%<& '()+1%(.*+& %-(0.(0%<
'3+8.%0&(1%&-%00&%9*/%).<&()/&.$%&4(.&-3:5 0%1*)%&'13.%(0%0<&+3--(2%)(0%<&4(+.31&_GGG<
,-%& *0& 1%'-(+%/& :8& (& 21(),-37(.3,0 ()/&C(--*C1%*);&#$%1%431%<&0%9%1%& !5().*5
*)6(77(.318& *)@-.1(.%& +37'30%/& 34 +K595@:K .18'0*)& /%@+*%)+8& 7(8& :%& (003+*(.%/
43(78& $*0.*3+8.%0& ()/& 7,-.*),+-%(.%/ >*.$&/*031/%10&34&:-33/&+3(2,-(.*3)&()/
/>N>BJT>46'L:=579=6'S5=A'jj'LA79>=JL7'
2*().&+%--0;&g$30.&(/*'3+8.%0&(1%&+$(1(+5 @:1*)3-80*0<&()37(-*%0&*)&.$%&'$(23+8.*+
:9R';7<J'K>S'K7;7K6'>U' ]P:9=5=<JL659'A:;7'
.%1*0.*+& 34& '()+1%(.*+& '())*+,-*.*0<& :,. 7%+$()*070& 34& .$%& *77,)%& 1%0'3)0%<
7NLAJ67N:Q'A7L:=5=56Q'@5<<A>656Q';:6@4K5P
037%.*7%0&.$%8&(1%&0'(10%&()/&(1%&3)-8 (:)317(-*.*%0& *)& (+.*9(.*3)& 34& H85
=56Q':9R':9T5>7R7N:Y')9@>NN>9KJQ'L:9P
43,)/&(4.%1&0%1*(-&0%+.*3)0; 732%)0<& ()/& .$%& 1%-%(0%& 34& '%'.*/%& $315
95@4K5=56Y
#1%(.7%).& 34& '()+1%(.*+& '())*+,-*.*0 73)%0; !5B).*.18'0*)&/%@+*%)+8&%A,(--8
*0& '1*7(1*-8& /*1%+.%/& (.& .$%& ,)/%1-8*)2 #4O@4=:97>46'9>R4K76'N>6=KJ'K>@:=7R'>9' (44%+.0&:3.$&0%T%0<&()/&*.&7(8&(44%+.&+$*-5
'()+1%(.*+&/*0%(0%;&^$%)&.$%&'()+1%(.*+ =A7'K>S7<':OR>N79Q'O4==>@I6Q':9R'L<>[5P /1%)<&(-.$3,2$&0,:+,.()%3,0&4(.&)%+130*0
'13:-%7& +()& :%& 1%9%10%/& >*.$& 0,12*+(- N:K'7[=<7N5=576Y /,%&.3& !5().*.18'0*)&/%@+*%)+8&/%9%-3'0
+311%+.*3)<& +37'-%.%& 1%03-,.*3)& 34& .$% (<78479='4K@7<:=5>9':9R'56>N><LA5@'LA7P 730.&+3773)-8&/,1*)2&(/,-.&-*4%;
+,.()%3,0&-%0*3)0&3++,10;RJQ<RQ" 9>N79>9Y U())*+,-*.*0& (003+*(.%/& >*.$& !5().*5
.18'0*)& /%@+*%)+8& 7(8& :%& .$%& @10.& 0*2)
34& .$%& /*0%(0%<& (-.$3,2$& -%0*3)0& 34& 0,:5
]P-9=5=<JL659P!7M@579@J' /56=>L:=A>K>TJ +,.()%3,0& 4(.& )%+130*0& ,0,(--8& (''%(1
0:995@4K5=56
F>6=KJ'K>O4K:<'L:995@4K5=56'S5=A>4=';:6@4P >$%)& 3.$%1& +-*)*+(-& 7()*4%0.(.*3)0& 34
F,11%).-8<& 731%& .$()& \"& 7,.().& (--%-%0 K5=56 .$%& /*031/%1& $(9%& (-1%(/8& /%9%-3'%/;
34&.$%& !5().*.18'0*)&2%)%&$(9%&:%%)&1%+5 .7@<>656'>U'=A7'U:='K>O4K76'S5=A':'R7967' #$%0%& -%0*3)0& +3)0*0.& 34& 0,:+,.()%3,0
32)*H%/& ()/& (1%& +-(00*@%/& (++31/*)2& .3 59V:NN:=><J'59MK=<:=7'>U'974=<>LA5K6 )3/,-%0&730.-8&-3+(.%/&3)&.$%&-3>%1&(:5
%-%+.13'$31%.*+&0%'(1(.*3);&#$%&43,1&7(5 /37%)<&:,..3+C0<&()/&'13T*7(-&%T.1%7*5
X31& +(.%231*%0& *)+-,/%h& =& M4(0.O<& [& M7%5 #LK:J59T'>U'974=<>LA5K6'O7=S779'@>KK:T79' .*%0&M=*2;&KL5\O<&>$%1%(0&.$%&/*0.(-&(1%(0
/*,7O<& ?& M0-3>O<& ()/& i& M9%18& 0-3>O;& G) O49RK76'>U'=A7'R77L'<7=5@4K:<'R7<N56 34& .$%& -3>%1& %T.1%7*.*%0& (1%& -%00& 41%5
%(+$& *)/*9*/,(-<& .>3& (--%-%0& /%.%17*)% 3:<T7':<7:6'>U'9><N:K'U:=':RX:@79='=>' A,%).-8&*)93-9%/&.$()&*)&3.$%1&43170&34
.$%& 0'%+*@+& !5().*.18'0*)& '$%)3.8'%; 97@<>=5@':R5L>@J=76 '())*+,-*.*0;RKL<RP!IR\J&S-+%1(.*3)&*0&(&C%8
#$%& 730.& +3773)& (--%-%& (003+*(.%/ +-*)*+(-& 4%(.,1%& .3& !5().*.18'0*)5/%@5
>*.$& )317(-& -%9%-0& 34& !5().*.18'0*)& *0 ,<7:=N79= +*%)+8I(003+*(.%/& '())*+,-*.*0<& ()/& )%5
[<& >$%1%(0& 3.$%1& (--%-%0<& 0,+$&(0& ?& ()/ +13.*+&)3/,-%0&%T,/(.%&3*-8&7(.%1*(-&.$(.
i<&(1%&,0,(--8&(003+*(.%/&>*.$&-3>&0%1,7 !:L6>97 1%'1%0%).0& )%+13.*+& (/*'3+8.%0;& B)& *035
-%9%-0&34&.$%&%)H87%;&#$,0<&(&$%.%13H85 />N>BJT>46'L:=579=6'S5=A'67;7<7'U><N6' 731'$*+& '$%)37%)3)& *0& (-03& 41%A,%).
23.%&>*.$&[?&31&[i&'$%)3.8'%&,0,(--8 >U'=A7'R567:67W'64LLK7N79=:K'59=<:;79>46' *) !5().*.18'0*)5/%@+*%)+8I(003+*(.%/
0$3>0& 73/%1(.%& /%@+*%)+8& 34& !5().*5 59U465>9'>U'7[>T79>46' ]PL<>=759:67 '())*+,-*.*0<& ()/& 0,:+,.()%3,0& )3/,-%0
.18'0*)&>*.$&4%>&31&)3&+-*)*+(-&7()*4%05 59A5O5=><'@>9@79=<:=7'><' ]P:9=5=<JL659' 34.%)& /%9%-3'& (.& 0*.%0& 34& '1%9*3,0
.(.*3)0<& >$%1%(0& (& $373H823,0& '(.*%). L<>R4@7R'OJ'T797=5@'79T5977<59T .1(,7(<&*)+-,/*)2&0,12%18;R\J
>*.$&(&ii&'$%)3.8'%&$(0&0%9%1%& !5().*5 E*0.3'(.$3-32*+& 0.,/*%0& 34& -%0*3)0
.18'0*)& /%@+*%)+8& >*.$& 0%1*3,0& +-*)*+(- 34 !5().*.18'0*)5/%@+*%)+8& '())*+,-*5
7()*4%0.(.*3)0<& *)+-,/*)2& %7'$80%7(< /*0%(0%0& (1%& (-730.& +3)0.().<& >$%1%(0 .*0& /%73)0.1(.%& (& 730.-8& -3:,-(1& '()5
$%'(.*.*0<& +*11$30*0<& 9(0+,-*.*0<& ()/& ()5 '())*+,-*.*0&*0&1(1%;&#$*0&*)/*+(.%0&.$(.& !5 )*+,-*.*0& >*.$& 0%9%1%& )%+130*0& 34& .$%& 4(.
2*3%/%7(;RKLIRP"& c++(0*3)(--8<& *)/*9*/,5 ().*.18'0*)5/%@+*%)+8I(003+*(.%/ '()5 -3:,-%0& ()/& (& /%)0%& *)6(77(.318& *)@-5
(-0& >*.$& [?& 31& [i& '$%)3.8'%0& 0$3> )*+,-*.*0&*0&'13:(:-8&(&7,-.*4(+.31*(-&/*05 .1(.%& 34& )%,.13'$*-0& M0%%& =*2;& KL5\V<FO;
)317(-& 0%1,7& -%9%-0& 34& !5().*.18'0*)< 31/%1<& ()/& 3.$%1& %.*3'(.$32%)*+& 4(+.310< B//*.*3)(-&$*0.3'(.$3-32*+&4%(.,1%0&.$(.
:,.&+-*)*+(-&%9*/%)+%&34&'())*+,-*.*0&(0&() :%0*/%0 !5().*.18'0*)& /%@+*%)+8<& (-03 $(9%& :%%)& /%0+1*:%/& (0& $*0.3'(.$3-32*+
*03-(.%/& @)/*)2;& [30.& '(.*%).0& >*.$& !5 '-(8& 037%& 13-%;& ?37%& '(.*%).0& >*.$&.$% +-,%0& 431& /*(2)30*0& 34& !5().*.18'0*)5
().*.18'0*)5/%@+*%)+8I(003+*(.%/& '()5 [?& 9(1*().& $(9%& /%9%-3'%/& '())*+,-*.*0 /%@+*%)+8I(003+*(.%/& '())*+,-*.*0& *)5
)*+,-*.*0& $(9%& .$%& ii& '$%)3.8'%& >*.$ :,.&)3&-*9%1&31&',-73)(18&/*0%(0%;&?37% +-,/%& 0'-(8*)2& 34& )%,.13'$*-0& :%.>%%)
9%18& -3>& -%9%-0& 34& !5().*.18'0*);& E3>5 '(.*%).0& >*.$& .$*0& .8'%& 34& '())*+,-*.*0 +3--(2%)& :,)/-%0& 34& .$%& /%%'& 1%.*+,-(1
%9%1<&*)&.$%&'(.*%).0&>*.$&.$%&ii&'$%)35 0$3>& )317(-& -%9%-0& 34& !5().*.18'0*)< /%17*0R\!&()/&.$%&43+(-*.8&34&.$%&-%0*3)0<
.8'%& ()/& 9%18& -3>& 0%1,7& -%9%-0& 34& !5 :,.&.$%&%)H87%&4,)+.*3)&7(8&:%&0*2)*@5 >*.$& -(12%& (1%(0& 34& )317(-& 4(.& (/X(+%).
().*.18'0*)<& 0%9%1%& ',-73)(18& ()/& -*9%1 +().-8& *7'(*1%/;RP!& G)& (//*.*3)<& !5().*5 .3&)%+13.*+&(/*'3+8.%0&+3).(*)*)2&7()8
!-6
D F G
/012345"67# ]P-9=5=<JL659PR7M@579@J'L:995@4K5=56Y'DE'+K595@:K':LL7:<:9@7'6A>S59T'64O@4=:97>46'97@<>=5@'9>R4K76'S5=A'4K@7<:=5>9':9R'7[4R:=5>9'>U'>5KJ
N:=7<5:KQ'SA5@A'<7L<7679=6'97@<>=5@':R5L>@J=76Y'FE'/56=>L:=A>K>TJW'#@:9959T'L>S7<'6A>S59T':'N>6=KJ'K>O4K:<'L:995@4K5=56Y'GE5-'R7967'59V:NN:=><J'59MK=<:=7'>U
974=<>LA5K6'59;>K;59T'=A7'U:='K>O4K7Y
)%,.13'$*-0& ()/& $*0.*3+8.%0;RLJ& c++(5 .(!)-*0, "0%&*4""<!N! =;(%('+%"E, 0-+*.-F""<!N! 0.(*)*)2<& *.& $(0& :%%)& 1%+%).-8& '13'30%/
0*3)(--8<& .$%& *).%)0%& *)6(77(.318& *)@-5 D0;*%$"44/0, 1/!"$&'/0<J!"& ()/& +$1373785 (0& .$%& :%0.& 0+1%%)*)2& .33-& 431& /%.%+.*3)
.1(.%& 34& )%,.13'$*-0& +(,0%0& +3--(2%)3-85 +30*0;!N!&[()8&34&.$%&'(.*%).0&>*.$&*)4%+5 34& :(+.%1*(-& ()/& 4,)2(-& 7*+13312()*070
0*0& ()/& /%2%)%1(.*3)& 34& %-(0.*+& .*00,% .*3,0& '())*+,-*.*0& (1%& *77,)30,'5 *)&'(1(4@)5%7:%//%/&0C*)&0'%+*7%)0;J!!
>*.$&/%0.1,+.*3)&34&.$%&0%'.(&34&.$%&0,:5 '1%00%/& /,%& .3& ()& (003+*(.%/& /*0%(0%& 31
+,.*0;&#$%&)%+13.*+&4(.&-3:,-%0&(''%(1&.3 7%/*+(.*3)&*).(C%;
:%&Y63(.*)2Z&()/&0,113,)/%/&:8&)%,.135
'$*-0;RLN& G)& -(.%50.(2%& -%0*3)0<& )%,.135
#$%& %9(-,(.*3)& 34& '(.*%).0& >*.$& )%,5
.13'$*-*+& -3:,-(1& '())*+,-*.*0& 0$3,-/& *)5
".(&+,"$)#
'$*-0& ()/& )%+13.*+& (/*'3+8.%0& (1%& -%00
%9*/%).<&()/&.$%&4(.&-3:,-%0&(''%(1&.3&:%
+-,/%& +,-.,1%0& 34& .$%& :*3'08& 0'%+*7%);
[30.& *)4%+.*3,0& '())*+,-*.*/%0& 0$3>& (
0-.."+)3","#
3++,'*%/&:8&-87'$3+8.%0<&43(78&$*0.*35
+8.%0<&()/&@:130*0&34&9(1*(:-%&/%21%%0;RLK
V%+(,0%&.1(,7(&()/&0,12*+(-&/j:1*/%5
$*0.3'(.$3-32*+& '(..%1)& 34& 0,'',1(.*9%
21(),-37(0&>*.$*)&.$%&4(.&-3:,-%<&>$*+$
+3)0*0.&34&+3--%+.*3)0&34&)%,.13'$*-0&0,15
-,'-'E3-.+&'
7%).0&(1%&41%A,%).&'1%+*'*.(.*)2&4(+.310 13,)/%/& :8& %'*.$%-*3*/& $*0.*3+8.%0;J"Q +K595@:K
34& '())*+,-*.*0& *)& '(.*%).0& >*.$& !5().*5 G)4%+.*3,0& '())*+,-*.*0& ,0,(--8& 1%0,-.0
-'S5R7';:<57=J'>U'59U7@=5>46':T79=6Q'
.18'0*)& /%@+*%)+8<& .$%8& 0$3,-/& :% 4137& $%7(.32%)3,0& /*00%7*)(.*3)<
59@K4R59T'67;7<:K'O:@=7<5:'><'U49T5Q'N:J'
(93*/%/<& *4& '300*:-%;& D('03)%& $(0 >*.$& .$%& 1%0'*1(.318& .1(+.& :%*)2& .$%
@:467'59U7@=5>46'L:995@4K5=56Y
'139%/& .3& :%& ()& %44%+.*9%& .1%(.7%).& *) 730.&+3773)&'31.(-&34&%).18;&E3>%9%1<
+(0%0&34&'())*+,-*.*0&/,%&.3& !5().*.18'5 '1*7(18&+,.()%3,0&*)4%+.*3)0&(-03&3++,1 $U=79Q'=A7'L:=579=6':<7'5NN49>64LP
0*)& /%@+*%)+8;RLR<R\N<R\Q& G)& $373H823,0 (0& (& +3)0%A,%)+%& 34& /*1%+.& '$80*+(-& *)5 L<7667RY
'(.*%).0& >*.$& 0%9%1%& 43170& 34& .$%& /*05 3+,-(.*3)& (.& .$%& 0*.%& 34& ()& 3++-,0*9% &<J=A7N:=>46'9>R4K76'S5=A'U<78479='
%(0%<& '1%0%).*)2& >*.$& 0%9%1%& %7'$85 /1%00*)2& 31& ()& *)/>%--*)2& +(.$%.%1;& E*05 4K@7<:=5>9':9R'7[4R:=5>9'>U'>5KJ'N:=7<5:KY
0%7(& ()/& -*9%1& 4(*-,1%<& .$%& 3)-8& .$%1(5 .3-32*+& /*44%1%)+%0& 7(8& :%& .$%& +3)0%5
'%,.*+&'300*:*-*.8&*0&>%%C-8&*).1(9%)3,0 A,%)+%& 34& .$%& /*44%1%).& 13,.%0& 34& /*05
*)4,0*3)& 34& !5'13.%*)(0%& *)$*:*.31& +3)5 0%7*)(.*3);& G)& '1*7(18& +,.()%3,0
/56=>L:=A>K>TJ
+%).1(.%&MK"&72bC2O&31&(&-*9%1&.1()0'-()5 *)4%+.*3)0<& .$%& %'*+%).%1& 34& .$%& *)6(75 #4LL4<:=5;7'T<:94K>N:6'S5=A59'=A7'U:='
.(.*3);R\K<R\P& #$%& '13/,+.*3)& 34& !5().*5 7(.*3)& *0& .$%& 0,'%1@+*(-& /%17*0<& ()/ K>O4K7Y
.18'0*)& :8& 2%)%.*+& %)2*)%%1*)2& *0& :%*)2 .$137:30%/& 9%00%-0& /3& )3.& +3).(*)& *)5 "9'L<5N:<J'@4=:97>46'59U7@=5>96Q'=A7'7L5P
*)9%0.*2(.%/;R\L<R\\ .1(9(0+,-(1& 312()*070;& G)& +3).1(0.<& *) @79=7<'>U'=A7'59V:NN:=5>9'56'=A7'64L7<MP
0%+3)/(18&+,.()%3,0&*)4%+.*3)0<&.$%&%'*5 @5:K'R7<N56Y
+%).%1& 34& *)6(77(.*3)& *0& 731%& /%%'-8
"9U7@=5>46'0:995@4K5=56 "9'67@>9R:<J'@4=:97>46'59U7@=5>96Q'=A7'
0%(.%/&()/&*)93-9%0&3)-8&.$%&/%%'&1%.*+5
B& >*/%& 9(1*%.8& 34& *)4%+.*3,0& (2%).0<& *)5 ,-(1& /%17*0& ()/& 0,:+,.()%3,0& 4(.;& #$% 7L5@79=7<'>U'59V:NN:=5>9'56'=A7'R77L'
+-,/*)2& 0%9%1(-& :(+.%1*(& 31& 4,)2*<& 7(8 :-33/& 9%00%-0& (1%& .$137:30%/& ()/& /*5 <7=5@4K:<'R7<N56':9R'64O@4=:97>46'U:=Q'
+(,0%& -3:,-(1& '())*+,-*.*0& (0& .$%& 7(*) -(.%/&>*.$&7(00%0&34&312()*070&%T'()/5 :9R'=A7'OK>>R';7667K6':<7'=A<>NO>67R'
+-*)*+(-& 7()*4%0.(.*3);& V(+.%1*(-& *)4%+5 *)2& .$%*1& -,7*)(;J""& G)& *77,)30,'5 :9R'R5K:=7R'S5=A'N:6676'>U'><T:956N6Y
.*3,0&'())*+,-*.*/%0&*)+-,/%&*)4%+.*3)0&34 '1%00%/& '(.*%).0<& 7*+13312()*070& (1% #L7@5:K'6=:596':<7'97@766:<J'U><'R7=7@=5>9'
.$%& 0,:+,.()%3,0& 4(.& +(,0%/& :8& ='%*;'(# ),7%13,0<& ()/& .$%8& 7(8& :%& */%).*@%/ >U'O:@=7<5:K':9R'U49T:K'N5@<>><T:956N6Y
-(--/0,;)($*.*0<J"" ='&;+)4(-(--/0,&/%*/0<J"" *)& .*00,%& 0%+.*3)0& >*.$& .$%& 13,.*)%& $%5 ,A7'R5:T9>656'N46='O7'76=:OK56A7R'OJ':'
>0*/3(!(.&0& 0';<J""<J"! ?4*80"*44&<J"" @(# 7(.3T8-*)5%30*)& 0.(*)& 31& >*.$& 0'%+*(- L>65=5;7'@4K=4<7'><'67<>K>T5@'6=4R576Y
-&%3"&&0';<J""&(.8'*+(-&78+3:(+.%1*(<J"RIJ"Q 0.(*)0<& *)+-,/*)2& g1(7<& '%1*3/*+& (+*/5
2:, '/8*%-/4(0"0<J"K& ()/& 2:, 4*;%&*!R!e ?+$*44<& 31& i*%$-5a%%-0%)& 0.(*)0;& V%+(,0%
>$%1%(0& 4,)2*& +(,0*)2& '())*+,-*.*0& *)5 ().*5:(+*--%& F(-7%..%5g,j1*)& *77,)35 ,<7:=N79=
+-,/%& /%17(.3'$8.%0<& A&.3"3&& 0';<J""<J"P 0.(*)*)2& 0$3>0& +130051%(+.*9*.8& >*.$ -LL<>L<5:=7':9=5N5@<>O5:K'=A7<:LJ'
B/0&%"/!& 0';<J"" C"0'(;4&0!&, -&;0/4&# 7()8&:(+.%1*(&()/&4,)2*<&(0&>%--&(0&$*2$ 67K7@=7R':@@><R59T'=>'646@7L=5O5K5=J'=76=6
'/!<J"L<J"\ A%);'(-(--/0,.*(1(%!&.0<!N! D-'"# 0%)0*.*9*.8& ()/& 7*)*7(-& :(+C213,)/
!-#
1%'-(+*)2& .$%& 4(.& -3:,-%0<& 0,113,)/%/& :8
G)& 730.& +(0%0<&$3>%9%1<& .$%& ),7:%1& 34
7*+13312()*070& *)& .$%& 0'%+*7%)& *0 (-+,","-3 @:130*0& ()/& ()& *)6(77(.318& *)@-.1(.%
0'(10%<& ()/& .$%8& +())3.& :%& */%).*@%/ +37'30%/&34&43(78&$*0.*3+8.%0&()/&7,-5
>*.$& 0'%+*(-& 0.(*)0<& .$,0& .$%& /*(2)30*0
7,0.& :%& %0.(:-*0$%/& :8& (& '30*.*9%& +,-5
0-.."+)3","# .*),+-%(.%/& 2*().& +%--0;J!P<J!L& ?*-*+3)%& *)5
X%+.*3)0& ,0%/& 431& +307%.*+& 1%(03)0& 7(8
.,1%&31&0%13-32*+&0.,/*%0;
#1%(.7%).& 34& *)4%+.*3,0& '())*+,-*.*0
-,'-'E3-.+&' '13/,+%& -3:,-(1& '())*+,-*.*0& $*0.3'(.$35
-32*+(--8& +$(1(+.%1*H%/& :8& 43(78& $*0.*35
1%A,*1%0& (''13'1*(.%& ().*7*+13:*(-& .$%15 +8.%0& +3).(*)*)2& 13,)/& 9(+,3-%0& 34& /*45
('8<&>$*+$&0$3,-/&:%&0%-%+.%/&(++31/*)2 +K595@:K 4%1%).& 0*H%0& *)& .$%*1& +8.3'-(07& ()/
.3&0,0+%'.*:*-*.8&.%0.0; &<J=A7N:=>46'9>R4K76'S5=A'R56L:<:=7' 7,-.*),+-%(.%/& 2*().& +%--0& 1%'-(+*)2& .$%
K>@:=5>9'><':LL7:<:9@7'59'L:=579=6'S5=A' 4(.& -3:,-%;JRJIJRQ& ?37%& 0'%+*@+& 4%(.,1%0
L7<6>9:K5=J':O7<<:=5>96 $(9%& :%%)& 0%%)& *)& :*3'08& 0'%+*7%)0& 34
(:@=5=5:K'0:995@4K5=56 -%0*3)0&4137&*)X%+.(:-%&(2%).0&M0%%&F$(';
#4O@4=:97>46'5NLK:9=:=5>9'>U'@>6N7=5@' RQQO;&=31&%T(7'-%<&V*3'-(0.*A,%l&21(),5
?37%& '(.*%).0& >*.$& '08+$*(.1*+& /*0315 MKK7<6
-37(0& '1%0%).& >*.$& *11%2,-(1-8& 0$('%/
/%10& *)X%+.& 9(1*3,0& 0,:0.()+%0& *).3& .$%
+80.*+& 0'(+%0& 34& 9(18*)2& 0*H%& +3).(*)*)2
0,:+,.()%3,0& 4(.<& +(,0*)2& '())*+,-*.*0;
B73)2& .$%& *)X%+.%/& 0,:0.()+%0& (1%& (+5
/56=>L:=A>K>TJ X(22%/<& .1()0-,+%).<& )3):*1%41*)2%).& 4315
%*2)& :3/*%0& 0,113,)/%/& :8& 7,-.*),+-%5
*/0<&(-C(-*0<&7,0.(1/<&7*-C<&7*+13:*3-32*5 F>6=KJ'K>O4K:<'L:995@4K5=56'S5=A>4=';:6@4P (.%/&2*().&+%--0;JRK&B1.%+3--l&21(),-37(0
+(--8& +3).(7*)(.%/& 7(.%1*(-<& ,1*)%<& ()/ K5=56Y 0$3>& ),7%13,0& 13,)/& 9(+,3-%0& )%(1-8
4%+%0;& U())*+,-*.*0& 7(8& (-03& 1%0,-.& 4137 #4LL4<:=5;7'T<:94K>N:'59;>K;59T'=A7'U:=' */%).*+(-& *)& 0*H%& ()/& 0$('%& %)+-30*)2
.$%&0,:+,.()%3,0&*7'-().(.*3)&34&/*44%15
K>O4K7Y 13,)/& ()/& 0$(1'-8& +*1+,70+1*:%/<& .1()05
%).&7(.%1*(-0&431&+307%.*+&31&.$%1('%,.*+
#>N7=5N76'L>K:<5B:=5>9'>U'=A7'6K5R7'@:9' -,+%).<& )3):*1%41*)2%).& 431%*2)& :3/*%0
1%(03)0;& G(.132%)*+& '())*+,-*.*/%0& *)5
5R79=5UJ'=A7'<7U<:@=5K7'U><75T9'N:=7<5:KY 0,113,)/%/& :8& 0+-%13.*+& 0.137(;JRK<JRP
+-,/%& .$30%& /,%& .3& 037%& /1,20& *)X%+.%/
!5UU7<79='N><LA>K>TJ'><'=A7'L:<=5@K76'59' D%17(-*9%l&21(),-37(.3,0&1%(+.*3)0&%T5
*).3&.$%&0,:+,.()%3,0&4(.<&0,+$&(0&*)0,5
$*:*.&.1()0-,+%).&31&0-*2$.-8&'*)C&)3):*1%5
-*)<& '39*/3)%<J!R& 7%'%1*/*)%<J!J& '%).(5 L:995@4K5=56'59R4@7R'OJ'@>6N7=5@'MKK7<6W'
41*)2%).& '3-823)(-& 431%*2)& :3/*%0& 0,15
H3+*)%<J!N<J!Q& ()/& 9*.(7*)& k!<J!K& 31& 0,:5 #5K5@>97W'(>:NJ'A56=5>@J=76'@>9=:5959T' 13,)/%/& :8& (& /%)0%& 431%*2)& :3/8& .8'%
0.()+%0& ,0%/& .3& (,27%).& .$%& 0*H%& 34 <>49R';:@4>K76'>U'R5UU7<79='65B76Y 21(),-37(.3,0& 1%(+.*3);JRP<JRL& =*)(--8<
:1%(0.0& 31& 2%)*.(-*(& 31& .3& +311%+.& 4(+*(-
*5>LK:6=5847mW'"<<7T4K:<KJ'6A:L7R'@J6P [(.1*/%Tl& 1%(+.*3)& 0$3>0& 0,'',1(.*9%
>1*)C-%0& 31& (1%(0& 34& -*'3(.13'$8<& 0,+$
=5@'6L:@76'>U';:<J59T'65B7'@>9=:5959T' 21(),-37(& +3).(*)*)2& /(1C5:-,%& 0.(*)%/
(0& '(1(4@)<J!PIJRR& 0*-*+3)%<JRJIJRQ& B1.%5
X:TT7RQ'=<:96K4@79=Q'9>9O5<7U<59T79=' 0'$%1%0&34&/%T.1()37%10;
+3--l<JRK<JRP& V*3'-(0.*A,%l<JRK& D%17(5
U><75T9'O>R576'64<<>49R7R'OJ'N4K=594P #1%(.7%).& 34& .$%0%& '())*+,-*.*/%0& *)5
-*9%l<JRP<JRL&31&[(.1*/%Tl;JR\
@K7:=7R'T5:9='@7KK6Y /,+%/&:8&*)X%+.*3)&34&034.&.*00,%&(,27%)5
E*0.3'(.$3-32*+(--8<&4(+.*.*(-&'())*+,-*5
-<=7@>KKmW'.4N7<>46'<>49R';:@4>K76' .(.*3)& 7(.%1*(-0& *0& (& +$(--%)2%;& c1(-& 31
.*0& ,0,(--8& 0$3>0& (& '(..%1)& 34& (& 730.-8
97:<KJ'5R79=5@:K'59'65B7':9R'6A:L7' *).1(-%0*3)(-& (/7*)*0.1(.*3)& 34& +31.*+35
-3:,-(1& '())*+,-*.*0<& >*.$& ()& *)6(77(5
79@K>659T'<>49R':9R'6A:<LKJ'@5<@4NP 0.%13*/0& 7(8& :%& $%-'4,-& 431& *03-(.%/& -%5
.318& *)@-.1(.%& '1%/37*)().-8& +37'30%/
6@<5O7RQ'=<:96K4@79=Q'9>9O5<7U<59T79=' 0*3)0&:,.&730.&34&.$%&.*7%<&.$%&*7'-().%/
34&)%,.13'$*-0&(.&.$%&+%).%1&34&.$%&4(.&-3:5
U><75T9'O>R576'64<<>49R7R'OJ'6@K7<>=5@' 7(.%1*(-&7,0.&:%&0,12*+(--8&%T+*0%/;
,-%&()/&%'*.$%-*3*/&$*0.*3+8.%0&(.&.$%&'%5
1*'$%18;& g*9%)& .$(.& .$%&/*44%1%).*(-& /*(25 6=<>N:Y
)30*0& *)+-,/%0& *)4%+.*3,0& '())*+,-*.*0< !7<N:K5;7mW'E<:94K>N:=>46'<7:@P #4O@4=:97>46'#:<@>5R>656 M?%%
+,-.,1%0& (1%& 7()/(.318;& ?37%.*7%0<& '35 =5>96'7[A5O5='=<:96K4@79='><'6K5TA=KJ'L59I' F$(';&!QJO
-(1*H(.*3)&34&.$%&0-*/%&+()&*/%).*48&.$%&1%5 9>9O5<7U<59T79='L>KJT>9:K'U><75T9'O>RP
41(+.*-%& 431%*2)& 7(.%1*(-<& 31& (//*.*3)(- 576'64<<>49R7R'OJ':'R7967'U><75T9' F-(00*+& %18.$%7(& )3/30,7& *0& .$%& 730.
$*0.3'(.$3-32*+& @)/*)20& $%-'& .3& */%).*48 O>RJ'=JL7'T<:94K>N:=>46'<7:@=5>9Y +3773)& '())*+,-*.*0& *)& '(.*%).0& >*.$
.$%&)(.,1%&34&.$%&431%*2)&7(.%1*(-;&=31&%T5 0(1+3*/30*0;& ?37%.*7%0<& $3>%9%1<& 0'%5
F:=<5R7[mW'#4LL4<:=5;7'T<:94K>N:'
(7'-%<& $%7(.3T8-*)5%30*)& 0.(*)& 34& '39*5 +*@+& -%0*3)0& 34& 0(1+3*/30*0& *)93-9%& .$%
@>9=:5959T'R:<IPOK47'6=:597R'6LA7<76' 0,:+,.()%3,0& 4(.;& F-*)*+(--8<& .$%0%& -%5
/3)%5*)/,+%/& '())*+,-*.*0& 0$3>0& :-,%5 >U'R7[=<:9>N7<6Y
21(8& 43(78& /%'30*.0& 34& '39*/3)%& *)& .$% 0*3)0& +3)0*0.& 34& 0,:+,.()%3,0& )3/,-%0
+8.3'-(07& 34& -(12%<& /*0.%)/%/& 7(+135 3)& .$%& ,''%1& ()/& -3>%1& %T.1%7*.*%0
'$(2%0&>*.$*)&.$%&4(.&-3:,-%;J!R&U39*/3)% ,<7:=N79= >*.$& )3& 0*2)0& 34& *)6(77(.*3)& 3)& .$%
(-03&0.(*)0&*).%)0%-8&>*.$&F3)23&1%/&()/ 0C*)&0,14(+%;JJ"IJJJ
$<:K'><'59=<:K765>9:K':RN5956=<:=5>9'>U'@><P
+$-31(H3-54(0.&'*)C&()/&9(1*(:-8&>*.$&'%5 =5@>6=7<>5R6Y
1*3/*+& (+*/5?+$*44;J!R&U())*+,-*.*0& 0%+3)/5
"9'L:995@4K5=56'59R4@7R'OJ'@>6N7=5@'MKK7<6Q' ,<:4N:=5@'0:995@4K5=56
(18&.3&0,:+,.()%3,0&*)X%+.*3)0& 34&'%).(5
N>6='>U=79'=A7'5NLK:9=7R'N:=7<5:K'N46='
H3+*)%& 0$3>& 7(1C%/& 0+-%130*0& 34& .$% ]T.%1)(-&*)X,18&34&9(1*3,0&.8'%0&+()&'135
/%17*0& ()/& .$%& 0%'.(& 34& 0,:+,.()%3,0 O7'64<T5@:KKJ'7[@567RY /,+%& '())*+,-*.*0;& #1(,7(.*+& '())*+,-*5
4(.<&>*.$& )%+13.*+& (/*'3+8.%0<& -*'3'$(2*+ .*0& 7(8& 1%0,-.& 4137& (++*/%).(-& :-,).
21(),-37(<&()/&.$137:*&*)&.$%&-,7*)(&34 +8.%0& ()/& '-(07(& +%--0<& +-30%-8& 1%0%75 .1(,7(&*)&0%9%1(-&(1%(0&34&.$%&0C*)&()/&*0
.$%& 07(--& :-33/& 9%00%-0& 34& .$%& 4(.& -3:5 :-*)2& .$%& $*0.3'(.$3-32*+& 4%(.,1%0& 34 %0'%+*(--8&41%A,%).&*)&>37%)&>*.$&-(12%
,-%;J!Q& ?,:+,.()%3,0& *)X%+.*3)0& 34& 9*.(5 /%%'& 731'$%(;J!K& U(1(4@)37(& 0$3>0& ( :1%(0.0<& *)& >$*+$& .$%& %T+%00*9%& :1%(0.
7*)& k!& *)/,+%& 0+-%130*0& 34& .$%& +3--(2%) $*0.3'(.$3-32*+&'*+.,1%&34&0+-%130*)2&-*'35 >%*2$.& 4(9310& .$%& .1(,7(& 34& .$%& 7(75
:,)/-%0& 34& .$%& 0,:+,.()%3,0& 0%'.(& ()/ 21(),-37(<& >$*+$& +3)0*0.0& 34& 7,-.*'-% 7(18& 0,:+,.()%3,0& 4(.;& F-*)*+(--8<& -%5
!6. ()& *)6(77(.318& *)@-.1(.%& 34& -87'$35 Y?>*005+$%%0%5-*C%Z& '0%,/3+80.*+& 0'(+%0 0*3)0& 34& 7(77(18& .1(,7(.*+& '())*+,-*5
0.(2%& 34&.1(,7(.*+&'())*+,-*.*0&*)&>$*+$
,%-)F-,"+' >%--5/%7(1+(.%/& ()/& 739(:-%& )3/,-%0
=137&(&$*0.3'(.$3-32*+&'3*).&34&9*%><
-*'3(.13'$8&*0&(&1%0*/,(-&'13+%00&34&0%95
0,113,)/%/& :8& (& @:13,0& '0%,/3+('0,-% %1(-& *)6(77(.318& +3)/*.*3)0& *)93-9*)2
0-.."+)3","# (''%(1&*)&.$%&0,:+,.*0&34&-3>%1&-*7:0<&%-5
:3>0<&31&$*'0&(4.%1&.1(,7(;JN!IJNK
.$%& 0,:+,.()%3,0& 4(.& -3:,-%0;& G)& 730.
+(0%0<& .$%& $*0.3'(.$3-32*+& @)/*)20& (1%
-,'-'E3-.+&' B0& (& +3)0%A,%)+%& 34& +3)6,%).& )%+135
0*0& 34& .$%& 4(.& +%--0<& ()/& 1%2(1/-%00& 34& .$%
.$30%& 34& -*'3'$(2*+& 21(),-37(0& 0,15
13,)/*)2& (& 07(--50*H%/& 4(.& -3:,-%& >*.$
+K595@:K %.*3-328<& .1(,7(.*+& 4(.& )%+130*0& 0$3>0 '%1*-3:,-(1&@:130*0;&G)&.$30%&+(0%0& 34&-*5
+80.*+& 0'(+%0& 34& 9(1*(:-%& 0*H%& ()/& 0$('% '3(.13'$8& 0%+3)/(18& .3& 0,:+,.()%3,0
-@@5R79=:K'OK49='=<:4N:'><'S>N79'S5=A' >*.$*)& -3:,-%0& 0,113,)/%/& :8& 9(1*(:-% *)X%+.*3)& 34& +31.*+30.%13*/0<& .>3& /*44%15
K:<T7'O<7:6=6 /%21%%0& 34& @:130*0& ()/& $%7311$(2%;& B. %).& $*0.3'(.$3-32*+& '(..%1)0& $(9%& :%%)
"9R4<:=7R'9>R4K76'R77LKJ'65=4:=7R'S5=A59' .$%&'%1*'$%18&34&.$%&+80.*+&0'(+%0<&43(78 /%0+1*:%/;JQ\& V3.$& '(..%1)0& (1%& +$(1(+5
=A7'64O@4=:97>46'=56647'>U'7[=<7N5=576'><' $*0.*3+8.%0& ()/& -87'$3+8.%0& (1%& ,0,(--8 .%1*H%/& :8& .$%& 07(--& 0*H%& 34& .$%& -3:,-%0
=A7'O<7:6='@>;7<7R'OJ'9><N:K'><'7<J=A7NP '1%0%).;JNP&G)&-(.%50.(2%&-%0*3)0<&$%730*/5 ()/&:8&.$%&(.13'$8&34&.$%&1%/,+%/&),75
:=>46'6I59 %1*)& 7(8& :%& (:,)/().& :3.$& %T.1(+%--,5 :%1&34&(/*'3+8.%0;&#$%&@10.&'(..%1)&+3)5
.>R4K:<P@J6=5@'U:='97@<>656'><'N>O5K7' -(1-8& ()/& >*.$*)& .$%& +8.3'-(07& 34& .$% 0*0.0& 34& 4(*).-8& (+*/3'$*-*+& 07(--& (/*'35
79@:L64K:=7R'K5L>N:W'F>;:OK7'9>R4K76' 7(+13'$(2%0;&B0&*)&3.$%1&43170&34&1%0*/5 +8.%0& .$(.& (1%& 1%.1(+.%/& 4137& .$%
64<<>49R7R'OJ':'MO<>46'L674R>@:L64K7'59' ,(-&-3:,-(1&'())*+,-*.*0<&7%7:1()3+80.*+ 0,113,)/*)2& +3))%+.*9%& .*00,%& 34& .$%
=A7'64O@4=56'>U'K>S7<'K5NO6 31& -*'37%7:1()3,0& +$()2%0& $(9%& (-03 0%'.(;& #$%0%& +$()2%0& (1%& 731%& '137*5
:%%)& /%0+1*:%/& *)& -%0*3)0& 34& .1(,7(.*+ )%).& (.& .$%& '%1*'$%18& 34& 3.$%1>*0%& $*05
'())*+,-*.*0;JNL .3-32*+(--8& )317(-& 4(.& -3:,-%0<& 0,22%0.5
/56=>L:=A>K>TJ *)2&.$(.&.$*0&*0&()&%(1-8&(-.%1(.*3)&34&.$%
-*'3(.13'$*+& '13+%00;& #$%& 2%)%1(-& +3)5
F>6=KJ'K>O4K:<'L:995@4K5=56'S5=A>4=';:6@4P 35L>:=<>LAJ @2,1(.*3)&34&.$%&4(.&-3:,-%&()/&.$%&07(--
K5=56 0*H%&34&.$%&(/*'3+8.%0&1%0%7:-%&.$30%&34
c4.%)< 4";(&'%(;+)& ()/& 4";(3)0'%(;+)& (1%
+J6=5@'6L:@76'>U';:<5:OK7'65B7':9R'6A:L7' ,0%/& (0& 08)3)873,0& .%170<& :,.& 4137& ( %7:183)*+& 4(.;& G)6(77(.318& +%--0& (1%
S5=A59'U:='K>O4K76 0'(10%<&()/&:-33/&9%00%-0&(''%(1&'137*5
'(.$32%)*+& '3*).& 34& 9*%><& .$%8& (1%& .>3
H:<5:OK7'R7T<776'>U'MO<>656':9R'A7N><P /*44%1%).&/*031/%10&.$(.&-%(/&.3&-300&34&0,:5 )%).<& +3)2%0.%/<& ()/& /*-(.%/;& #$%& 0%+5
<A:T7 +,.()%3,0& 4(.;& G";(&'%(;+)& 1%4%10& 0'%+*@5 3)/& $*0.3'(.$3-32*+& '(..%1)& 0%%)& *)& -%5
$U=79Q'N7NO<:9>@J6=5@'><'K5L>N7NO<:P +(--8&.3&(&-300&34&0,:+,.()%3,0&4(.&/,%&.3&( 0*3)0& 34& -*'3(.13'$8& 0%+3)/(18& .3
'1%9*3,0& *)6(77(.318& '13+%00& *)93-9*)2 0,:+,.()%3,0& *)X%+.*3)0& 34& +31.*+30.%15
9>46'@A:9T76':6':'<765R4:K'K765>9
.$%& 0,:+,.*0;& G)& +3).1(0.<& -*'3/80.13'$8 3*/0& *0& +$(1(+.%1*H%/& :8& 07(--<& (.13'$*+
7%()0& ()& (:0%)+%& 34& 0,:+,.()%3,0& 4(. 4(.&+%--0&0,113,)/%/&:8&(&'137*)%).&9(05
,<7:=N79= >*.$& )3& %9*/%)+%& 34& *)6(77(.*3);& d*'35 +,-(.,1%;&#$%&07(--&0*H%&34&.$%&4(.&-3:,-%
/80.13'$8&7(8&:%&+3)2%)*.(-&31&(+A,*1%/< ()/& (/*'3+8.%0<& .$%& 1%-(.*9%& (:0%)+%& 34
.>='97@766:<JY'$U=79Q'6L>9=:97>46'<76>P *)6(77(.*3)<& ()/& .$%& '13-*4%1(.*3)& 34
K4=5>9Y >*.$& .3.(-<& '(1.*(-<& ()/& -3+(-*H%/& -*'3/805
.13'$8&9(1*().0&M0%%&F$(';&K\O;JN\ 07(--&:-33/&9%00%-0&2*9%&()&()2*37(.3,0
?%9%1(-& 43170& 34& -3+(-*H%/& -*'3(.13'$8 (''%(1()+%&.3&.$%&4(.&-3:,-%;
.*0& +3)0*0.& 34& *)/,1(.%/& )3/,-%0& /%%'-8 $(9%& :%%)& /%0+1*:%/& (++31/*)2& .3& .$%*1 G)&4,--8&/%9%-3'%/&-%0*3)0&34&-*'3/805
0*.,(.%/&>*.$*)&.$%&:1%(0.&.*00,%&.$(.&(1% +-*)*+(-& (''%(1()+%& ()/& -3+(.*3)<& )(7%-8 .13'$8<& .$%1%& *0& ()& (:0%)+%& 34& 0,:+,.(5
+39%1%/& :8& )317(-& 31& %18.$%7(.3,0 ()),-(1&-*'3(.13'$8<JQ"&(:/37*)(-&-*'3(.5 )%3,0& 4(.& >*.$& /%'30*.*3)& 34& )%>& +3-5
0C*);&?37%.*7%0<&.$%&0C*)&0,14(+%&0$3>0 13'$8<JQ!&0%7*+*1+,-(1&-*'3(.13'$8<JQR&()/ -(2%)<&)3&%9*/%)+%&34&*)6(77(.*3)<&()/
()&Y31()2%&'%%-Z&(''%(1()+%<&1(*0*)2&.$% '30.*)X%+.*3)& -3+(-*H%/& -*'3(.13'$8;JQJ<JQN .$%& /%17*0& ()/& .$%& 4(0+*(& (1%& *)& /*1%+.
/*44%1%).*(-&/*(2)30*0&34&7(77(18&+(1+*5 E3>%9%1<& .$%& 730.& +3773)& -3+(-*H%/ (''30*.*3);& f%+%).-8<& .>3& $*0.3'(.$35
)37(& %T.%)/*)2& *).3& .$%& 0C*);JJL<JJ\& d%5 -*'3(.13'$8& (''%(10& (0& (& 0%A,%-(& 34 -32*+& 9(1*().0& 34& -*'3/80.13'$8& $(9%
0*3)0&34&.1(,7(.*+&'())*+,-*.*0&*)93-9*)2 '())*+,-*.*0<& %0'%+*(--8& -,',0& '())*+,-*5 :%%)&'13'30%/;JLN&G)&.$%&@10.&.8'%<&.$%1%
.$%&:1%(0.0&,0,(--8&1%03-9%<&-%(9*)2&(1%(0 .*0;R!R<JQQIJQL& d3+(-*H%/& -*'3(.13'$8& 7(8 (1%& '137*)%).& *)93-,.*3)(-& +$()2%0& *)
34&-*'3(.13'$8;&c.$%1&41%A,%).&-3+(.*3)0 (-03& (''%(1& (.& .$%& 0*.%0& 34& *)X%+.*3)& 34 .$%& 4(.& -3:,-%<& >*.$& 07(--& (/*'3+8.%0
431& -%0*3)0& 34& .1(,7(.*+& '())*+,-*.*0& (1% /*44%1%).& /1,20<& *)+-,/*)2& +31.*+30.%15 ()/&*).%19%)*)2&$8(-*)%&31&78T3*/&+3)5
.$%& 0$*)0<& >$%1%& %18.$%7(.3,0& .%)/%1 3*/0<JQN<JQ\IJKR&*)0,-*)<JKJIJKP&().*:*3.*+0<JQ\ )%+.*9%&.*00,%&()/&'13-*4%1(.*3)&34&07(--
0,:+,.()%3,0& )3/,-%0& (''%(1& (4.%1& 7*5 9(03'1%00*)<JKL& $,7()& 213>.$& $315 :-33/&9%00%-0;&#$%&0%+3)/&.8'%&*0&.$%&*)5
)31&.1(,7(;&#$%&'13+%00<&C)3>)&(0&4";(# 73)%<JK\& ()/& 2-(.*1(7%1& (+%.(.%& .1%(.5 6(77(.318&.8'%<&:%+(,0%&-87'$3+8.%0<
&'%(;+"&, 0*!"-"%-/4&%"0<& (-03& 7(8& :%& +3)5 7%).& 431& 7,-.*'-%& 0+-%130*0;JP"& d3+(-*H%/ 43(78&$*0.*3+8.%0<& ()/& '-(07(&+%--0& ('5
0*/%1%/& (0& (& 9(1*().& 34& .1(,7(.*+ -*'3(.13'$8& 0%+3)/(18& .3& '1%00,1%& ()/ '%(1& >*.$*)& .$%& 07(--& 4(.& -3:,-%0& >*.$
'())*+,-*.*0&.$(.&+3)0*0.0&34&0%7*+*1+,-(1 +37'1%00*3)& :8& .*2$.5@..*)2& +-3.$%0& $(0 )317(-5(''%(1*)2&(/*'3+8.%0&()/&9(0+,5
:()/5-*C%&(1%(0&34&(.13'$8&34&.$%&0,:+,5 :%%)& (-03& 1%'31.%/& 3)& .$%& ()C-%0<JP!IJPJ -(.,1%;&G.&*0&,)+%1.(*)<&$3>%9%1<&>$%.$%1
.()%3,0& 4(.& .$(.& *)93-9%& $(-4& 34& .$%& +*15 .$*2$0<JN"<JQR<JPN& (:/37*)(-& 0C*)<JQ!<JPQIJP\ 31&)3.&.$%0%&.>3&'(..%1)0&1%'1%0%).&.>3
+,74%1%)+%& 34& .$%& ().%13-(.%1(-& (0'%+.0 ()/&39%1&.$%&0(+1,7;JL" /*44%1%).&0.(2%0&34&(&0*)2-%&'13+%00;
34&.$%&.$*2$0&34&>37%)&>$3&1%'%(.%/-8 G)&+3).1(0.<&4,--8&/%9%-3'%/&-%0*3)0&34
-%()& >*.$& .$%*1& .$*2$0& (2(*)0.& (& /%0C& 31 -*'3/80.13'$8& 0$3>& .3.(-& (:0%)+%& 34 #4O@4=:97>46'(:='.7@<>656'
+$(*1&:%+(,0%&34&.$%*1&>31C*)2&$(:*.0;JN" 0,:+,.()%3,0& .*00,%& >*.$& )3& %9*/%)+%
#$%& 035+(--%/& .(3/4&%#-)0'"-, 1&', .*-%(0"0< 34&*)6(77(.*3)<&(-.$3,2$&037%&(,.$310 >U'=A7'.7SO><9 M?%%&F$(';&!"KO
(-03& )(7%/& !(8"4*, *.-&;0/4&'*3, 4";(!& $(9%& '30.,-(.%/& ()& %(1-8& *)6(77(.318 ?,:+,.()%3,0& 4(.& )%+130*0& 34& .$%& )%>5
()/ *.-&;0/4&'*3,1&',.*-%(0"0<&*0&(&1%0*/,(- 0.(2%&M0%%&F$(';&K\O;JL!IJLJ :31)&*0&(&1(1%&9(1*().&34&-3+(-*H%/&-3:,-(1 !68
.3+C0<& 0$3,-/%10<& +$%%C0<& ()/& .$*2$0 %30*)3'$*-0& *).%10'%10%/& (73)2& .$%
#)*+),-.&$)# M=*2;& KL5!"O;JLLIJ\"& ?37%.*7%0<& *)4().0 (/*'3+8.%0& 34& .$%& 4(.& -3:,-%& M0%% =*2;
(44%+.%/&:8&0,:+,.()%3,0&4(.&)%+130*0&34 KL5!"VO;& [()8& (/*'3+8.%0& (1%& 1%'-(+%/
(-,'.&+%$#"#'$(' .$%& )%>:31)& $(9%& $8'%1+(-+%7*(& 31
.$137:3+8.3'%)*(& 34& ,)C)3>)& 0*2)*@5
:8&+%--0&>*.$&@)%-8&%30*)3'$*-*+&21(),-(1
+8.3'-(07& .$(.& +3).(*)& )(113><& )%%/-%5
,/&'.&G*$%. +()+%;J\!IN"!& #$%& )%>:31)& $(0& (& 1%-(5
.*9%-8&-(12%&:3/8&0,14(+%&*)&+37'(1*03)
0$('%/& +-%4.0<& 34.%)& *)& 1(/*(-& (11(8& M0%%
=*2;&KL5!"FO;&#$%0%&)%%/-%50$('%/&+-%4.0
-,'-'E3-.+&' >*.$&$*0&31&$%1&>%*2$.&()/&(&21%(.%1&1(5
.*3&34&0(.,1(.%/&.3&,)0(.,1(.%/&4(..8&(+5
1%'1%0%).&+180.(-0&34&.1*2-8+%1*/%0&34&.$%
(/*'3+8.%0e& .$%8& (1%& /3,:-8& 1%41(+.*-%
*/0&.$()&*)&(/,-.&4(.<&()/&.$%0%&.>3&4(+5 ,)/%1&'3-(1*H%/&-*2$.&()/&0.(*)&>*.$&3*-
.310&4(931&.$%&1%-%(0%&34&$8/13-(0%0&.$(. 1%/&c;&?37%&34&.$%0%&+-%4.0&7(8&(-03&:%
*)/,+%& :1%(C/3>)& 34& ,)0(.,1(.%/& 4(..8 0%%)& >*.$*)& .$%& +8.3'-(07& 34& 7,-.*),5
(+*/0&+(,0%/&:8&7*)31&.1(,7(;JLK&c.$%1 +-%(.%/&2*().&+%--0;JR!<N!!IN!J&#$%&)%%/-%5
%.*3-32*+& 4(+.310& .$(.& $(9%& :%%)& '30.,5 0$('%/&+180.(-0&*)&1(/*(-&4(0$*3)&>*.$*)
-(.%/&*)&1%-(.*3)0$*'&>*.$&0,:+,.()%3,0 .$%&+8.3'-(07&34&(/*'3+8.%0&()/&$*0.*35
4(.&)%+130*0&34&.$%&)%>:31)&*)+-,/%&3:5 +8.%0&(1%&A,*.%&+$(1(+.%1*0.*+&34&0,:+,.(5
+K595@:K 0.%.1*+(-& .1(,7(<& *)/,+%/& $8'3.$%17*( )%3,0& 4(.& )%+130*0& 34& .$%& )%>:31)<& :,.
431&+(1/*(+&0,12%18<&2%0.(.*3)(-&/*(:%.%0< (1%&)3.&%T+-,0*9%<&:%+(,0%&*/%).*+(-&+1805
+5<@4N6@<5O7RQ'<7R'=>';5>K:@7>46Q'64O@4P
$8'32-8+%7*(<&f$%0,0&4(+.31&*)+37'(.*5 .(-0& $(9%& (-03& :%%)&/%0+1*:%/&*)& -%0*3)0
=:97>46'9>R4K76'><'LK:8476'>9'=A7'O4=P
:*-*.8<& 7%+3)*,7& (0'*1(.*3)<& '-(+%).( 34&0+-%1%7(&)%3)(.31,7&()/&'30.0.%13*/
=>@I6Q'6A>4KR7<6Q'@A77I6Q':9R'=A5TA6
'1%9*(<& ,7:*-*+(-& +31/& '13-('0%<& ()3T*(< '())*+,-*.*0;&E*0.3'(.$3-32*+&/*44%1%).*(-
#>N7=5N76Q'AJL7<@:K@7N5:'><'=A<>NO>P 0%*H,1%0<& ()/& '1%%+-(7'0*(;JLK<JLP<N"RIN"N /*(2)30*0& 34& 0,:+,.()%3,0& 4(.& )%+130*0
@J=>L795: f(1%& %T(7'-%0& 34& 0,:+,.()%3,0& 4(.& )%5 34&.$%&)%>:31)&9%10,0&0+-%1%7(&)%3)(5
+130*0& 34& .$%& )%>:31)& $(9%& :%%)& /%5 .31,7& *0& 0.1(*2$.431>(1/<& :%+(,0%& -%5
/56=>L:=A>K>TJ 0+1*:%/&(4.%1&'130.(2-()/*)&]&(/7*)*0.1(5 0*3)0& 34& .$%& 4317%1& 0$3>& (& /%)0%& *)5
.*3)<N""& *)& )%>:31)& *)4().0& >*.$& :13>) 6(77(.318& *)@-.1(.%& 34& $*0.*3+8.%0& ()/
F>6=KJ'K>O4K:<'L:995@4K5=56'S5=A>4=';:6@4K5=56 4(.& /%@+*%)+8<N"Q& *)& )%>:31)0& >*.$& 0%5 -87'$3+8.%0&*)&.$%&4(.&-3:,-%0e&>$%1%(0
!7967'59V:NN:=><J'59MK=<:=7'@>NL>67R' 1,7& (:)317(-*.*%0& 34&-*'*/0&()/&-*'3'135 *)& -%0*3)0& 34& 0+-%1%7(& )%3)(.31,7<
>U'KJNLA>@J=76Q'A56=5>@J=76Q'K5L>LA:T76Q' .%*)0<N"K& *)& *)4().0& 4137& 73.$%10& >$3 +$(1(+.%1*0.*+(--8<& .$%& *)6(77(.318& *)5
:9R'N4K=594@K7:=7R'T5:9='@7KK6 ,0%/& +3+(*)%& /,1*)2& '1%2)()+8<N"P& (0& ( @-.1(.%&*0&-(+C*)2;N!N
.:<<>S'977RK7P6A:L7R'@K7U=6Q'>U=79'59' +3)0%A,%)+%&34&.$%&*).1('(1.,7&(/7*)*05 G)& +3).1(0.& .3& 0+-%1%7(& )%3)(.31,7<
<:R5:K':<<:J'S5=A59'=A7'@J=>LK:6N'>U'=A7' .1(.*3)& 34& +(-+*,7& +$())%-& :-3+C%10<N"L *)4().0&>*.$&0,:+,.()%3,0&4(.&)%+130*0&34
A56=5>@J=76':9R'N4K=594@K7:=7R'T5:9='@7KK6 ()/&*)&(003+*(.*3)&>*.$&.$137:3+8.3'%5 .$%& )%>:31)& $(9%& ()& %T+%--%).& '132)35
)*(;N"\&S0,(--8<&+,.()%3,0&-%0*3)0&34&0,:5 0*0<&()/&0'3).()%3,0&1%03-,.*3)&34&-%0*3)0
+,.()%3,0& 4(.& )%+130*0& 34& .$%& )%>:31) *0& .$%& 1,-%<& (-.$3,2$& (& 1%0*/,(-& -%0*3)& 34
,<7:=N79= /%9%-3'& /,1*)2& .$%& @10.& /(80& 34& -*4%<& (-5 -*'3(.13'$8& 7(8& 1%7(*);& D%(.$0& $(9%
#L>9=:97>46'<76>K4=5>9 .$3,2$& +(0%0& >*.$& +3)2%)*.(-& ()/& ,-+%15 :%%)&1%'31.%/&*)&'(.*%).0&>*.$&(003+*(.%/
(.%/&-%0*3)0&.$(.&>%1%&(-1%(/8&'1%0%).&(. $8'%1+(-+%7*(&()/<&.3&(93*/&.$(.<&%.*/135
&=5R<>9:=7'59'L:=579=6'S5=A'AJL7<@:K@7N5:
/%-*9%18&$(9%&(-03&:%%)&/%0+1*:%/;N!" )(.%<& (& /*'$30'$3)(.%<& $(0& :%%)& '135
#$%&$*0.3'(.$3-32*+&'*+.,1%&34&0,:+,5 '30%/&(0&()&%44%+.*9%&.1%(.7%).;N!Q
'())*+,-*.*0& .$(.& (''%(10& *)& )%>:31)0 .()%3,0& 4(.& )%+130*0& 34& .$%& )%>:31)& *0
/,1*)2&.$%&@10.&/(80&34&-*4%;JLK<JLP&=137&( +$(1(+.%1*0.*+;& G.& +3)0*0.0& 34& (& 730.-8 0>6=6=7<>5R'0:995@4K5=56
+-*)*+(-& '3*).& 34& 9*%><& 0733.$<& +*1+,75 -3:,-(1& '())*+,-*.*0<& >*.$& (& /%)0%& *)5
0+1*:%/<&1%/&.3&9*3-(+%3,0<&0,:+,.()%3,0 6(77(.318&*)@-.1(.%&+37'30%/&34&-875 U30.0.%13*/&'())*+,-*.*0&*0&(&1(1%&'())*+,5
)3/,-%0&31& '-(A,%0& /%9%-3'<&037%.*7%0 '$3+8.%0<&$*0.*3+8.%0<&-*'3'$(2%0<&7,-.*5 -*.*+&+37'-*+(.*3)&.$(.&$(0&:%%)&1%'31.%/
0877%.1*+<& *)93-9*)2& 730.-8& .$%& :,.5 ),+-%(.%/& 2*().& +%--0<& ()/& 037%.*7%0< *)& +$*-/1%)& >$3& >%1%& 1%+%*9*)2& $*2$
D F G
/012345"678. #4O@4=:97>46'U:='97@<>656'>U'=A7'97SO><9Y'DE'+K595@:K':LL7:<:9@7'>U'=A7'K765>96W'+5<@4N6@<5O7RQ'59R4<:=7'64O@4=:97>46'9>R4K76'>9'=A7
O:@IY'9&$"1:'-'9>R4K7'S5=A'M<N'@>9656=79@J'>9'L:KL:=5>9Y'FE'/56=>L:=A>K>TJW'#@:9959T'L>S7<'6A>S59T':'N>6=KJ'K>O4K:<'L:995@4K5=56Y'GE'/5TA7<'N:T95M@:=5>9
6A>S59T'9:<<>S'977RK7P6A:L7R'@K7U=6Q'>U=79'59'<:R5:K':<<:JQ'S5=A59'=A7'@J=>LK:6N'>U'A56=5>@J=76':9R'N4K=594@K7:=7R'T5:9='@7KK6Y
!6C
(''%(1*)2& (0& (& -3:,-(1& '())*+,-*.*0& $(0
/30%0& 34& 080.%7*+& +31.*+30.%13*/0& .$(.
>%1%& .('%1%/& A,*+C-8& 31& 0,//%)-8& >*.$5 :%%)& /%0+1*:%/& *)& (& '(.*%).& >*.$& -875 /"#,"$+C,"+
/1(>);&U(.*%).0&>$3&$(9%&/%9%-3'%/&.$*0 '$3:-(0.*+&-87'$37(;NRP
9(1*().&34&'())*+,-*.*0&$(9%&1%+%*9%/&$*2$
/30%0& 34& 080.%7*+& +31.*+30.%13*/0& 431& (
+C,$0/-E"+
9(1*%.8& 34& +3)/*.*3)0<& *)+-,/*)2& 1$%,5
7(.*+& 4%9%1<& -%,C%7*(<& )%'$13.*+& 08)5
/56=5>@J=5@'+J=>LA:T5@'0:995@4K5=56
E*0.*3+8.*+& +8.3'$(2*+& '())*+,-*.*0& /%5
0-.."+)3","#
/137%<& 0%+1%.318& /*(11$%(<& :1(*)& 0.%7
2-*37(<&()/&+%1%:1(-&%/%7(;N!KINRN
0+1*:%0&(&$*0.3'(.$3-32*+&'(..%1)&.$(.&7(8
:%&0%%)&*)&(& 9(1*%.8& 34& ,)/%1-8*)2&+3)/*5
-,'-'E3-.+&'
F-*)*+(--8<& +,.()%3,0& -%0*3)0& 34& '30.5 .*3)0;&^*.$&.$%&(/9%).&34&*77,)3'$%)35
0.%13*/&'())*+,-*.*0&+3)0*0.&34&%18.$%7(5 .8'*)2&()/&2%)%.*+&.%+$)*A,%0<&730.&+(0%0
.3,0&0,:+,.()%3,0&)3/,-%0&()/&'-(A,%0 (1%& )3>& .$3,2$.& .3& 1%0,-.& 4137& *)93-9%5
.$(.& (''%(1& !& .3& !"& /(80& (4.%1& 0.3''*)2 7%).& 34& 0,:+,.()%3,0& 4(.& :8& )%3'-(0.*+
.$%& $*2$& /30%0& 34& 080.%7*+& +31.*+30.%15 -87'$3+8.%0& *)& 0%9%1(-& '1*7(18& 31& 0%+5
3*/0;& V%+(,0%& .$%& -%0*3)0& /%9%-3' 3)/(18&()/&V5+%--&-87'$37(0&M0%%&?,:5
730.-8&*)&.$30%&(1%(0&*)&>$*+$&0.%13*/0 +,.()%3,0&d87'$37(0O;&E3>%9%1<&)3.&(--
*)/,+%/& .$%& 21%(.%0.& (++,7,-(.*3)& 34 +(0%0& 34& $*0.*3+8.*+& +8.3'$(2*+& '())*+,-*5 +K595@:K
4(.<&0,:+,.()%3,0&)3/,-%0&34&'30.0.%13*/ .*0&(1%&%T(7'-%0&34&0,:+,.()%3,0&-87'$35 #4O@4=:97>46'7<J=A7N:=>46'LK:8476':9R'
'())*+,-*.*0& (''%(1& 730.-8& 3)& .$% 7(0<& ()/& .$%1%& (1%& Y:%)*2)Z& 31& )3)5 9>R4K76'>9'=A7'7[=<7N5=576':9R'=<49I
+$%%C0<&'30.%1*31&)%+C<&()/&,''%1&.1,)C; )%3'-(0.*+&43170&34&$*0.*3+8.*+&+8.3'$(2*+
E*0.3'(.$3-32*+(--8<& '30.0.%13*/& '()5 #>N7=5N76Q'5KKPR7M97R'A7N><<A:T5@'
'())*+,-*.*0;& G77,)3'$%)3.8'*)2& ()/
)*+,-*.*0& 0$3>0& 4%(.,1%0& */%).*+(-& .3 LK:8476
2%)3.8'*)2& 0.,/*%0&(1%& $%-'4,-& *)& .$%& /*45
.$30%& 34& 0,:+,.()%3,0& 4(.& )%+130*0& 34 4%1%).*(-& /*(2)30*0& 34& 0,:+,.()%3,0& -875 0:=579=6'S5=A'K>9TP6=:9R59T'R567:67W'
.$%& )%>:31);& #$%8& +3)0*0.& 34& (& 730.-8 '$37(0&>*.$&'())*+,-*.*+&(''%(1()+%&()/ (7;7<Q'A7L:=>6LK79>N7T:KJQ':9R'L:9@JP
-3:,-(1& '())*+,-*.*0& >*.$& ()& *)6(77(5 (,.$%).*+& $*0.*3+8.*+& +8.3'$(2*+& '())*+,5 =>L795:'67@>9R:<J'=>'A7N>@J=>LA:T>@JP
.318& *)@-.1(.%& 34& 43(78& $*0.*3+8.%0& ()/ -*.*0<NRL&(-.$3,2$&037%&(,.$31*.*%0&:%-*%9% =>656'59;>K;59T'=A7'O>97'N:<<>S
-87'$3+8.%0& *)93-9*)2& .$%& 4(.& -3:,-%0; .$(.& 730.& +(0%0& 34& $*0.*3+8.*+& +8.3'$(2*+
c4.%)<&)(113>&0.1()/0&34&)%%/-%50$('%/ '())*+,-*.*0& (1%& (+.,(--8& 0,:+,.()%3,0
/56=>L:=A>K>TJ
+-%4.0& (1%& %9*/%).& >*.$*)& .$%& +8.3'-(07 -87'$37(0& .$(.& (1%& )3.& /%.%+.(:-%& :8 F>6=KJ'K>O4K:<'L:995@4K5=56'S5=A>4=';:6@4K5=56
34&037%&$*0.*3+8.%0<NRN&(-.$3,2$&,0,(--8 +,11%).&7%.$3/0;
.$%8&(1%&)3.&(0&),7%13,0&(0&*)&0,:+,.(5 /56=5>@J=76':9R'N:=4<7'KJNLA>@J=76'
U(.*%).0& >*.$& $*0.*3+8.*+& +8.3'$(2*+
)%3,0&4(.&)%+130*0&34&.$%&)%>:31); 59;>K;59T'=A7'U:='K>O4K7
'())*+,-*.*0& /%9%-3'& 0,:+,.()%3,0& %185
d%0*3)0&34&'30.0.%13*/&'())*+,-*.*0&21(/5 .$%7(.3,0& '-(A,%0& ()/& )3/,-%0& 3)& .$% n*7:9PO:To'@7KK6W'+J=>LA:T>@J=>656'OJ'
,(--8&1%03-9%&>*.$*)&037%&>%%C0&>*.$&)3 %T.1%7*.*%0&()/&.1,)C&M=*2;&KL5!!O;&?37%5 N:@<>LA:T76'=A:='@>9=:59'59=:@='><'U<:TP
-3)250.()/*)2&+37'-*+(.*3)0<&%T+%'.&>$%) .*7%0<&.$%&-%0*3)0&(1%&'(*)4,-&()/&(''%(1 N79=7R'7<J=A<>@J=76Q'K74I>@J=76Q'LK:6N:'
,-+%1(.*3)& 3++,10<& >$*+$& -%(9%0& (.13'$*+ (0& *--5/%@)%/& $%7311$(2*+& '-(A,%0; @7KK6Q'><'KJNLA>@J=76'S5=A59'=A75<'@J=>LK:6N
0+(10&3)&.$%&+$%%C0&34&.$%&*)4().;&G4&.$%&/*5 ?'3).()%3,0& ,-+%1(.*3)& 31& '%10*0.%). .7@<>656'>U'=A7':R5L>@J=76'>U'=A7'U:='K>O4K7
(2)30*0&*0&%0.(:-*0$%/&(.&()&%(1-8&0.(2%<&1%5 /1(*)(2%& (4.%1& :*3'08& *0& (& 41%A,%).& 4%(5
(/7*)*0.1(.*3)& 34& $*2$& /30%0& 34& 080.%7*+ .,1%;&[30.&'(.*%).0&>*.$&+8.3'$(2*+&$*05 ,<7:=N79=
+31.*+30.%13*/0& *0& *)/*+(.%/& ()/& .$%)& ( .*3+8.*+& '())*+,-*.*0& $(9%& (& '13-3)2%/
0-3>%1& ()/& 21(/,(-& .('%1*)2& 34& .$%& /30% "NN49>64LL<7665;7'=A7<:LJ'S5=A'L<7R95P
+-*)*+(-& +3,10%& .$(.& -(0.0& 8%(10& ()/& ,0,5 6>97Q'@J@K>6L><597Q'><'R:L6>97
0$3,-/&:%&'1321(77%/; (--8&1%0,-.0&*)&(&.%17*)(-&0.(.%&+$(1(+.%15
*H%/& :8& 4%9%1<& $%'(.30'-%)37%2(-8<& ()/
E>4='0:995@4K5=56 M?%%&F$(';&!K!O '()+8.3'%)*(& 0%+3)/(18& .3& $%73+85 +8.3'-(07& '13/,+%0& .$%& 035+(--%/& 8*&.#
.3'$(23+8.30*0& *)93-9*)2&.$%& :3)%& 7(15 8&$, -*440& M0%%& =*2;& KL5!!FO;NR\INQK& c4.%)<
U(.*%).0& >*.$& $8'%1,1*+%7*(& 7(8& 0$3> 13>;NR\INN!&E3>%9%1<&.$%1%&(1%&(-03&>%--5 .$%1%&*0&+3)0*/%1(:-%&)%+130*0&34&.$%&(/*5
73)303/*,7& ,1(.%& +180.(-& /%'30*.*3)& *) /3+,7%).%/& %T(7'-%0& 34& +8.3'$(2*+ '3+8.%0& 34& .$%& 4(.& -3:,-%;& G77,)3$*05
.$%&4(.&-3:,-%&34&.$%&0,:+,.*0;&#$%0%&0,:5 $*0.*3+8.*+& '())*+,-*.*0& >*.$& (& :%)*2) .3+$%7*+(-& 0.,/*%0& /%73)0.1(.%& .$(.
+,.()%3,0& /%'30*.0& 34& 73)303/*,7 +-*)*+(-&:%$(9*31<&%9%)&(4.%1&-3)2&43--3>5 $*0.*3+8.%0&>*.$&+8.3'$(2*+&(+.*9*.8&%T5
,1(.%& (''%(1& (0& 0,:+,.()%3,0& 7(00%0& 31 ,';NNRINQK& [31%& 4,-7*)().& 43170& 34& .$% '1%00&$*0.*3+8.*+&7(1C%10&0,+$&(0&FDKL<
(0&4,0*4317&0>%--*)2;&#$%&0,14(+%&7(8&:% /*0%(0%&(1%&(003+*(.%/&>*.$&'%10*0.%).&4%5 >$%1%(0&730.&34&.$%&-87'$3+8.%0&0$3>
,-+%1(.%/<& ()/& .$%1%& 7(8& :%& (003+*(.%/ 9%1<& $%'(.30'-%)37%2(-8<& 7,+30(-& ,-5 (+%--&*77,)3'$%)3.8'%;&G)&(,.$%).*+
/1(*)(2%&34&7(.%1*(-;&#$%&730.&+3773) +%10<&0%130(-&%44,0*3)0<&'()+8.3'%)*(<&*)5 $*0.*3+8.*+& +8.3'$(2*+& '())*+,-*.*0<& 735
-3+(.*3)0& 34&.3'$*&(1%&.$%&0C*)&39%1-8*)2 .1(9(0+,-(1& +3(2,-(.*3)<& -*9%1& 4(*-,1%< -%+,-(1& 2%)%.*+& 0.,/*%0& 4(*-& .3& /%73)5
X3*).0& ()/& .$%& $%-*T& 34& .$%& %(1<& :,.& .$%8 $%7311$(2*+&/*(.$%0*0<&()/&/%(.$; 0.1(.%& 73)3+-3)(-*.8& 34& .$%& -87'$3*/
7(8&(''%(1&*)&()8&(1%(&34&.$%&0C*); E*0.3'(.$3-32*+(--8<&0,:+,.()%3,0&)3/5 +%--0<& :,.& >$%)& (.8'*+(-& -87'$3+8.%0
,-%0&34&$*0.*3+8.*+&+8.3'$(2*+&'())*+,-*5 (1%&0%%)&(0&(&+37'3)%).&34&.$%&*)@-.1(.%<
.*0& 0$3>& (& 730.-8& -3:,-(1& '())*+,-*.*0 *77,)3'$%)3.8'*)2& ()/& 2%)%& 1%(15
+<J6=:KP#=><59T'/56=5>@J=>656
>*.$& ()& *)6(77(.318& *)@-.1(.%& *)& .$% 1()2%7%).&0.,/*%0&/%73)0.1(.%&.$%&)%35
F180.(-50.31*)2& $*0.*3+8.30*0& *0& (& 1(1% 4(.&-3:,-%0&+37'30%/&34&$*0.*3+8.%0&()/ '-(0.*+& )(.,1%& 34& -87'$3+8.%0<& 730.
/*0%(0%&*)&>$*+$&(221%2(.*3)0&34&$*0.*35 7(.,1%& -87'$3+8.%0;& F8.3'$(23+8.35 +3773)-8& (& 0,:+,.()%3,0& -87'$37(<
+8.%0& +3).(*)*)2& +180.(--*)%& /%'30*.0& 34 0*0&:8&7(+13'$(2%0&.$(.&+3).(*)&*).(+.&31 431%730.<& (& 0,:+,.()%3,0& #5+%--& -875
*77,)32-3:,-*)0&(1%&0%%)&*)&.$%&0,:+,5 41(27%).%/& %18.$13+8.%0<& -%,C3+8.%0< '$37(;& G)& 1('*/-8& '1321%00*9%& +(0%0& 34
.()%3,0&4(.;&F180.(-50.31*)2&$*0.*3+8.30*0 '-(07(&+%--0<&31&-87'$3+8.%0&>*.$*)&.$%*1 $*0.*3+8.*+& +8.3'$(2*+& '())*+,-*.*0<& +85
!6H
0$#,"%%-!"-P
,"$.'#+3&%$P
!&%F-,$)#
0-.."+)3","#
-,'-'E3-.+&'
+K595@:K
G>N79'S5=A':'A56=><J'>U'O<7:6='@:9@7<'
=<7:=7R'OJ'<:R5@:K'N:6=7@=>NJ':9R'<:R5>P
=A7<:LJ'R7;7K>L'59R4<:=7R'7<J=A7N:=>46'
LK:8476'>9'=A7'5<<:R5:=7R'6I59Y
/56=>L:=A>K>TJ
D F F>6=KJ'K>O4K:<'L:995@4K5=56'S5=A>4=';:6@4P
K5=56
/J:K59'@>KK:T79'O49RK76'59'=A7'R7<N56':9R'
64O@4=:97>46'67L=:
"9V:NN:=><J'59MK=<:=7'>U'KJNLA>@J=76'
:9R'LK:6N:'@7KK6'59;>K;59T'=A7'U:='K>O4K76
35L>LA:T5@'T<:94K>N:':='=A7'L7<5LA7<J'>U'
=A7'U:='K>O4K7
,<7:=N79=
"9R4<:=7R'9>R4K76'=79R'=>'5NL<>;7'S5=A'
=5N7Y
.3'$(2*+& 4%(.,1%0& (1%&(-03&0%%)&*)&*).%15 ()/& '-(07(& +%--0& *)93-9*)2& .$%& 4(.& -3:5 !"#$%!&%#'&%%$.&$)#3C'
)(-& 312()0<& *)+-,/*)2& -87'$& )3/%0< ,-%0;&G)&037%&(1%(0<&-*'3'$(2*+&21(),-35 +$.#"!&%&!'-#'#0&+"("+'
0'-%%)<& -*9%1<& ()/& :3)%& 7(113><& 1%0,-.5 7(0&(1%&0%%)&(.&.$%&'%1*'$%18&34&.$%&4(. H-%"-.,#'$('0-.."+)3","#
*)2&*)&'()+8.3'%)*(&()/&/%(.$; -3:,-%;&#$*0&9(1*().&34&1(/*(.*3)5*)/,+%/
'())*+,-*.*0&$(0&:%%)&)(7%/&;(0'"%%&3"&# #4O@4=:97>46'3JNLA>N:6 M?%%
'"(.,0-4*%(3*%!&'(/0,;&.."-/4"'"0;NK"<NK!&#$% F$(';&!NKO
0>6=5<<:R5=5>9'#@K7<>R7<N:=>46'
7(*)& $*0.3'(.$3-32*+& /*44%1%).*(-& /*(25
0:995@4K=56 )30%0&*)+-,/%&731'$%(&'134,)/(&()/&-,5
G7O7<P+A<56=5:9'!567:67
?37%& >37%)& >*.$& (& $*0.318& 34& :1%(0. ',0& '())*+,-*.*0;& [31'$%(& '134,)/(& *0
+()+%1&.$(.&>(0&.1%(.%/&:8&1(/*+(-&7(05 730.-8&(&0%'.(-&'())*+,-*.*0<&>*.$&.$*+C5 H*8*%#A+%"0'"&., 3"0*&0*& >(0& .$%& .%17
.%+.378& ()/& 1(/*3.$%1('8& /%9%-3'& *)5 %)%/& 0%'.(& +37'30%/& 34& 0+-%13.*+& +3-5 ,0%/& *)& .$%& '(0.& .3& 1%4%1& .3& +(0%0& 34
/,1(.%/&%18.$%7(.3,0&'-(A,%0&3)&.$%&*15 -(2%)& :,)/-%0<& :,.& .$%& 4(.& -3:,-%& *0 730.-8&-3:,-(1&'())*+,-*.*0&>*.$3,.&9(05
1(/*(.%/& 0C*)& !& .3& K& 73).$0& (4.%1 0'(1%/;& d,',0& '())*+,-*.*0& 0$3>0& 0%9%1(- +,-*.*0& ()/& 080.%7*+& 7()*4%0.(.*3)0& *)5
1(/*3.$%1('8& M0%%& F$(';& \QO;NK"<NK!& #$% $*0.3'(.$3-32*+& 4%(.,1%0& 0*7*-(1& .3& .$30% +-,/*)2& 4%9%1& ()/& *)93-9%7%).& 34& 9*05
+-*)*+(-& /*(2)30*0& *0& ,0,(--8& +,.()%3,0 34& '30.*11(/*(.*3)& 0+-%13/%17(.3,0& '()5 +%1(-& 4(.& .*00,%;& B//*.*3)(-& .%170<& 0,+$
7%.(0.(0*0& 4137& .$%& 4317%1& 7(77(18 )*+,-*.*0<& :,.& .$%& 4(.& -3:,-%& 34& -,',0& '135 (0 "3"(;&'+"-, .(3/4&%, ;&.."-/4"'"0< .(3/4&%
+(1+*)37(<& :,.& $*0.3'(.$3-32*+& 0.,/*%0 4,)/,0&0$3>0&$8(-*)%&)%+130*0<&()/&34.%)< ;&.."-/4"'"0I&()/&%*4&;0".$,1*8%"4*,.(.#0/;;/#
0$3>& $8(-*)%& +3--(2%)& :,)/-%0& *)& .$% .$%1%& (1%& (221%2(.%0& 34& -87'$3+8.%0& ()/ %&'"7*, .(3/4&%, ;&.."-/4"'"0I& >%1%& (-03& ,0%/
/%17*0& ()/& 0,:+,.()%3,0& 0%'.(& ()/& () '-(07(&+%--0<&037%&34&.$%7&>*.$&2%17*)(- (0& 08)3)870& 431& ^%:%15F$1*0.*()& /*05
*)6(77(.318& *)@-.1(.%& 34& -87'$3+8.%0 +%).%1 4317(.*3)& 1%0,-.*)2& *)& -87'$3*/ %(0%;NLRIN\!& E3>%9%1<& 7()8& +(0%0& 31*2*5
!6I
)(--8&+3)0*/%1%/&(0&%T(7'-%0&34&^%:%15 $3732%)%3,0& %30*)3'$*-*+& 7%7:1()% -(:31(.318& *)9%0.*2(.*3)0& .3& 1,-%& 3,.& ()
F$1*0.*()& /*0%(0%& >%1%& -(.%1& 1%+-(00*@%/ >*.$& +3)93-,.%/& '13X%+.*3)0& *).3& .$% (003+*(.%/&080.%7*+&'13+%00;
>$%)&3.$%1&9(1*().0&34&-3:,-(1&'())*+,5 +80.*+& +(9*.8;& #$%& *).1(+80.*+& '('*--(18
-*.*0<& *)+-,/*)2& %18.$%7(& *)/,1(.,7& 34 '13X%+.*3)0& 0.(*)& :1*2$.-8& >*.$& '%1*3/*+
V(H*)<& '()+1%(.*+& '())*+,-*.*0<& ()/& !5 (+*/5?+$*44& ()/& ?,/()&:-(+C& ()/&(1%& 1%5 D&C'%&(&%&.+&#
().*.18'0*)5/%@+*%)+8&'())*+,-*.*0<&>%1% 0*0.().&.3&/*(0.(0%;
0%'(1(.%/&(0&0'%+*@+&/*0%(0%0;NK\&#$%1%5
,A7'U4KK'<7U7<79@7'K56='U><':KK'@A:L=7<6'
431%<& 730.& (,.$310& )3>& +3)0*/%1& .$(. 56':;:5K:OK7':='SSSYR5TNcY@>NY
.$%& .%17& H*8*%#A+%"0'"&., 3"0*&0*& 0$3,-/ &>659>LA5K5@'0:995@4K5=56 M?%%&F$(';&JQO
!; f%A,%)(&d<&?n)+$%H&o,0&]h&U())*+,-*.*0h
:%&(:()/3)%/&(0&(&/*(2)30*0&431&+(0%0&34 J(0".(;+"4"-, ;&.."-/4"'"0& *0& .$%& .%17& ,0%/ U(1.& G;& [30.-8& 0%'.(-& '())*+,-*.*0;& M, D!
-3:,-(1&'())*+,-*.*0&:%+(,0%&(&731%&0'%5 .3&1%4%1&.3&.$30%&+(0%0&34&0%'.(-&31&-3:,5 D-&3,N*%!&'(4,"#h!KJ<&R""!
+*@+&/*(2)30*0&7(8&:%&1%)/%1%/&*)&730. R; f%A,%)(&d<&?n)+$%H&o,0&]h&U())*+,-*.*0;
-(1& '())*+,-*.*0& *)& >$*+$& %30*)3'$*-0 U(1.&GG;&[30.-8&-3:,-(1&'())*+,-*.*0;&M,D!
34&.$%&+(0%0; '1%/37*)(.%& *)& .$%& *)6(77(.318& *)@-5 D-&3,N*%!&'(4 "#hJRQ<&R""!
.1(.%;& ]30*)3'$*-*+& '())*+,-*.*0& *0& (-03& ( J; ^$*.%& ^d<& ^*%0%-.$*%1& p?<& E*.+$+3+C
[gh&U())*+,-*.*0h&f%+%).&/%9%-3'7%).0
35L>N7NO<:9>46'><' $*0.3'(.$3-32*+& '(..%1)& 1(.$%1& .$()& (
()/& 3:0%19(.*3)0:, =*!"., A/', 2*3, =/%$
F7NO<:9>@J6=5@'0:995@4K5=56 /*0.*)+.& %).*.8;& G.& $(0& :%%)& /%0+1*:%/& *) $#hRPL<&!\\K
0%9%1(-& .8'%0& 34& '())*+,-*.*0& ()/& 3.$%1 !"\; ?()+$%H&o,0&]<&?()H&_*+3&[D<&/%&D*%23
d*'37%7:1()3,0&'())*+,-*.*0&>(0&31*2*5 *)6(77(.318& /*031/%10& *)93-9*)2& .$% _h& [*%0+$%1q0& 1(/*(-& 21(),-37(;& B& +$(15
)(--8&/%0+1*:%/&(0&!*!8%&.(/0,4";(3)0'%(# 0C*)<& *)+-,/*)2& %18.$%7(& )3/30,7< (+.%1*0.*+&7(1C%1&34&%18.$%7(&)3/30,7;
D!,M,N*%!&'(;&'+(4 $$hNJN<&!\L\
;+)&()/&+3)0*/%1%/&(0&(&0'%+*@+&()/&$%5 /%%'& *)0%+.& :*.%0<& )(1+3.*+& /%'%)/%)+8
!J"; V(0%-2(&]&%.&(-h&D%.%+.*3)&34&2)-(8&-'*#
1%/*.(18& 4317& 34& -3:,-(1& '())*+,-*.*0 >*.$& *)X%+.*3)& 21(),-37(<& (0.$7(< %"/!,'/8*%-/4(0"0&DaB&*)&-3:,-(1&21(),-35
(003+*(.%/& >*.$& ()37(-*%0& 34& .$%& -3)2 (.3'*+& /%17(.*.*0<& '08+$*(.1*+& /*0%(0%0< 7(.3,0& '())*+,-*.*0& M%18.$%7(& *)/,1(5
:3)%0& ()/& )%,13'08+$*(.1*+& 7()*4%0.(5 .$813*/&/*0%(0%0<&'(13.*.*0<&2-37%1,-3)%5 .,75)3/,-(1& 9(0+,-*.*0O;& D%-+, N*%!&'(4
.*3)0;N\R& E3>%9%1<& +(0%0& >*.$& */%).*+(- '$1*.*0<& 0(1+3*/30*0<& :(+.%1*(-& *)4%+.*3)0< $%%hNQP<&!\\P
!J\; ?+$)%*/%1& p^<& p31/(()& E=h& #$%& $*0.35
$*0.3'(.$3-32*+&@)/*)20&>%1%&/%0+1*:%/ *)4%0.(.*3)& >*.$& .$%& '(1(0*.%0& K.&'+(0# '(.$3-32*+&0'%+.1,7&34&%18.$%7(&*)/,5
0$31.-8&(4.%1>(1/&*)&-(.%50.(2%&-%0*3)0&34 '(!&&()/&L(E(-&%& -&."0<&-%,C3+8.3+-(0.*+ 1(.,7& 34& V(H*);& D!, M, N*%!&'(;&'+(4
0%9%1(-& 9(1*().0& 34& -3:,-(1& '())*+,-*.*0; 9(0+,-*.*0<& 080.%7*+& 9(0+,-*.*0<& ^%--0 $&hJRJ<&!\\P
#$,0<& .$%& .%17& 4";(!*!8%&.(/0 31 !*!# 08)/137%<&-,',0&'())*+,-*.*0<&/%%'&7315 NKR; [(003)%&F&%.&(-h&?,:+,.()%3,0<&:-(0.*+
)(.,1(-&C*--%1&MakO<&akb#5+%--<&()/&3.$%1
8%&.(-)0'"-,1&',.*-%(0"0&*0&)3>&,0%/&.3&1%5 '$%(<&?Xm21%)&08)/137%<+%--&31&V5+%--
+8.3.3T*+& -87'$37(0& 34& .$%& 0C*);& B
4%1& .3& (& $*0.3'(.$3-32*+& '(..%1)& .$(. -87'$37(<& -%,C%7*(<& ()/& 03-*/& )%35 731'$3-32*+<& *77,)3'$%)3.8'*+<& ()/
7(8&:%&0%%)&*)&-(.%50.(2%&-%0*3)0&*)&/*45 '-(070;R!\<Q"KIQ!R&#$*0&>*/%&0'%+.1,7&34 73-%+,-(1& 0.,/8& 34& Q"& '(.*%).0;& D!, M
4%1%).&.8'%0&34&'())*+,-*.*0;N\JIQ"N&#$%0% /*0'(1(.%&/*031/%10&*)/*+(.%0&.$(.&%30*)5 =/%$,>&'+(4 '(hP!\<&R""N
@)/*)20&+3)0*0.&34&+80.*+&0'(+%0&34&9(1*5 3'$*-*+& '())*+,-*.*0& *0& (& )3)50'%+*@+& 1%5 N\J; ?)3>& pd<& ?,& ^UD<& g*:03)& d]h& d*'35
7%7:1()3,0&M7%7:1()3+80.*+O&+$()2%0
(:-%& 0*H%& ()/& 0$('%& *)& .$%& 4(.& -3:,-%< (+.*9%& '13+%00<& ()/& .$%& '1%0%)+%& 34& %35 (003+*(.%/& >*.$& 731'$%(h& B& +-*)*+35
>$*+$&1%0,-.&4137&)%+130*0&34&.$%&(/*'35 0*)3'$*-0&*)&.$%&0,:+,.()%3,0&4(.&0$3,-/ '(.$3-32*+& 1%9*%>& 34& .$1%%& +(0%0;& M, D!
+8.%0;&#$%&+80.*+&0'(+%0&(1%&-*)%/&>*.$&( :%& 43--3>%/& :8& '%1.*)%).& +-*)*+(-& ()/ D-&3,N*%!&'(4 %$hRNK<&!\\N
!#.
!"#$%&'( !"#$%!&%#'$(')&*+,$-./&#
!!
F8A
-0+1/&%'23
I&*, /+, #W.-#++#3, /&, *5#, 3'-+%$, -%$
D"$*$J.'$('
$%&'&()*&+*
*47#, 34-/&0, -%$, (-#+*, (#$$, 1/0-%*/'&
%&3, 3/-#(*+, *5#, 1%*4-%*/'&, '6, .$4-/.'2
)&*+,$-./&#
,-'./&0)1-2
*#&*,-%$,(-#+*,(#$$+,/&*',1#$%&'7$%+*+;
?5#, I&*, 6%1/$), /+, ('1.'+#3, '6, !X
3/66#-#&*, +#(-#*#3, 0$)('.-'*#/&+;, ?5#)
+/'+'J*+,-&
0445.6789'1:;< 7/&3,%&3,%(*/8%*#,:-/YY$#3@,%,*-%&+1#12
):;=8>:'1689?7@?78AB 7-%&#, 5#.*%5#$/(%$, S, .-'*#/&V$/&F#3, -#2
(#.*'-@!!, %&3, /&34(#, *5#, %((414$%*/'&
C=8'*44 '6, 2(%*#&/&,9:/0;,<=2BZ>;,[&3#-,7%+#$/&#
)=8:'.::; ('&3/*/'&+@, A5#&, I&*, 3'#+, &'*, 7/&3
:-/YY$#3@, ()*'+'$/(, 2(%*#&/&, /+, ('12
.$#W#3, A/*5, *5#, #&Y)1#, 0$)('0#&, +)&2 )4I:86KI:HAH
&)D%.$,"-'!&E&*$1)&,/ *5%+#, F/&%+#, C , 9SMPC >, *5%*, /&34(#+
-%./3,47/\4/*/&21#3/%*#3,3#0-%3%*/'&,'6 @4;=L4'M;6N'AB4'847;:I'G;4HAO'/B4=;'N=9;:5
"#$%&'()*#+, %-#, ./01#&*2.-'34(/&0
2(%*#&/&,7),(#$$4$%-,.-'*#'+'1#+;,K/&32 A=68PH7;L=L:I'=8'AB4'4?=@4;N=H'=H'=8Q75
(#$$+,*5%*,'-/0/&%*#,6-'1,*5#,3'-+%$,.'-2
/&0,'6,I&*,*',/*+,-#(#.*'-,:-/YY$#3,/&5/72 48G4@'K>'87N4;67H'M:GA6;HO
*/'&+, '6,*5#, ($'+/&0, -%$, *47#, /&, 8#-2
*#7-%*#, #17-)'+, 9:/0;, <=2!>;!, ?5#), 3#2 /*+, SMPC , %(*/8/*)@, $#%3/&0, *', 2(%*#&/&
-/8#, 6-'1, .$4-/.'*#&*, -%$, (-#+*, (#$$+ %((414$%*/'&,/&,*5#,()*'+'$,6'$$'A#3,7) )4I:86G>A4H
*5%*, 3/66#-#&*/%*#, /&*', &41#-'4+, (#$$ /*+,*-%&+$'(%*/'&,*',*5#,&4($#4+,9:/0;,<=2BK>; ?6?7I:A4'AB4'4?=@4;N=HR'B:=;'M6II=GI4R'4>4R'
$/&#%0#+@,/&($43/&0,-'&+@,0$/%@,+1''*5 ]&, *5#, &4($#4+@, 2(%*#&/&, 7/&3+, +.#(/E(
G6GBI4:':8@'N48=894HO
14+($#@, (-%&/'6%(/%$, 7'&#@, (%-*/$%0#@ *-%&+(-/.*/'&, 6%(*'-+@, %&3, *'0#*5#-, *5#
('1.$#W, /&34(#+, *5#, *-%&+(-/.*/'&, '6, 1/2 H>8AB4H=S4'N4I:8=8R':8'=8@6I4'@4;=L:A=L4'
%&3, 1#$%&'()*#+, 9-#8/#A#3, /&, -#6+;, B 6M'TRU5@=B>@;6V>?B48>I:I:8=84'AB:A'=H'
%&3, C>;, D-'0#&/*'-, 1#$%&'7$%+*+, 1/2 (-'.5*5%$1/%2%++'(/%*#3,*-%&+(-/.*/'&,6%(2
*'-, 9"/*6>;!=, "/*6, %66#(*+, 1#$%&'7$%+*, 3/62 HA6;4@'=8'N4I:86H6N4HO
0-%*#,3'-+'$%*#-%$$),7#*A##&,*5#,1#+'2
3#-1%$, %&3, #(*'3#-1%$, $%)#-+, *', -#%(5 6#-#&*/%*/'&,7),/&34(/&0,*5#,*-%&+(-/.*/'& :;4'=8Q748G4@'K>'48@6G;=84R'?:;:G;=84'
*5#/-,E&%$,3#+*/&%*/'&+,/&,*5#,5%/-,6'$$/2 '6, *5-##, #&Y)1#+, *5%*, -#04$%*#, 1#$%&/& :8@':7A6G;=84'M:GA6;H':8@'K>'7IA;:L=6I4A'
($#+, %&3, *5#, +F/&, %+, A#$$, %+, /&&#-, #%- +)&*5#+/+^, *)-'+/&%+#@, *)-'+/&%+#2-#$%*#3 =;;:@=:A=68O
('(5$#%@,(5'-'/3+@,(/$/%-),7'3)@,%&3,/-/+ .-'*#/&2!,9?_D2!>@,%&3,C@G,3/5)3-'W).5#2
9-#8/#A#3, /&, -#6+;, B, %&3, G>;, D/01#&*2 &)$%$%&/&#, 9`aDZ>(5-'1#, *%4*'1#-%+# )4I:86H6N4H
.-'34(/&0, (#$$+, (%&, 7#, 6'4&3, /&, 6#*%$ 9?_D2B>,9-#8/#A#3,/&,-#6;,!B>;
@=H?I:>'M67;'N:A7;:A=68'HA:94HO
#./3#-1/+,%+,#%-$),%+,*5#,E6*/#*5,3%),'6
G68A:=8'HA;7GA7;:I'N:A;=V'?;6A4=8HR'N4I:5
0#+*%*/'&;
D684')6;?B69484A=G'1;6A4=8H 86948=G'48S>N4HR'?0'N:=8A:=8=89'?;65
"#$%&'7$%+*,1/0-%*/'&,%&3,3/66#-#&*/2
A4=8H':8@'M;44';:@=G:I'HG:L4894;HO
%*/'&,/&*',1#$%&'()*#+,/+,/&H4#&(#3,7) K"D+,%-#,3/+4$E3#2$/&F#3,3/1#-/(,.-'2
%, &417#-, '6, +/0&%$/&0, 1'$#(4$#+, .-'2 *#/&+, .-'34(#3, %+, $%-0#, .-#(4-+'-+; !C :;4'A;:8H?6;A4@'A6'N4I:86G>A4'@48@;=A4'
34(#3, 7), &#/057'-/&0, (#$$+;, ?5#+#, /&2 ?5#), /&($43#, 1'-#, *5%&, B=, +#(-#*#3 A=?H':8@'A;:8HM4;;4@'A6'<4;:A=86G>A4HO
($43#, I&*@, #&3'*5#$/&2C, 9J?C>@, 7'&# .-'*#/&+,%$$,+5%-/&0,%1/&',%(/3,5'1'$2
1'-.5'0#&#*/(, .-'*#/&+, 9K"D+>@, +*##$ '0),9-#8/#A#3,/&,-#6;,!G>;,K"D+,7#$'&0
6%(*'-,LM:N,+*#1,(#$$,6%(*'-,9MO:>@,(2P/*,$/2 *', *5#, *-%&+6'-1/&0, 0-'A*5, 6%(*'-2 -%$, *47#, %*, *5#, */1#, '6, 1#$%&'7$%+*
0%&3Q@, %&3, 5#.%*'()*#, 0-'A*5, 6%(*'- 6%1/$),'6,+#(-#*#3,0-'A*5,6%(*'-+@,%&3 1/0-%*/'&;b
9RS:>T+(%**#-, 6%(*'-;UV!=, K), /&*#-%(*/&0 *5#/-, +/0&%$/&0, +4..-#++#+, -%$, (-#+*
A/*5,*5#/-,+.#(/E(,(#$$,+4-6%(#,-#(#.*'-+@ (#$$, 3/66#-#&*/%*/'&, /&*', 1#$%&'7$%+*+
&8@6AB4I=8H
*5#+#,1'$#(4$#+,/&34(#,/&*-%(#$$4$%-,%&3 %&3, *54+, 1%), 7#, 8/#A#3, %+, I&*, %&2
/&*-%&4($#%-, +/0&%$/&0, *', /&H4#&(#, 0#&# *%0'&/+*+;, Z(('-3/&0$)@, *5#-#, /+, %, 3#2 J?+, %-#, %, 6%1/$), '6, .#.*/3#+@, B!, %1/&'
*-%&+(-/.*/'&,%&3,.-'*#/&,+)&*5#+/+; (-#%+#,/&,K"D,#W.-#++/'&,/&,*5#,3'-+%$ %(/3+, $'&0@, '-/0/&%$$), /3#&*/E#3, 7), *5#/- !"#
!"#$%&'()* *+,,-*.$*/(0*123%4567&88*!"9#4:&0;<*=:2>*!8&2?*(0%0*@"%*)0%9;*"@*A;0>
J3&-K,-#(#.*'-,%-#,.%-*/(4$%-$),/1.'-*%&* *5#-#!e@B=, 9+##, O5%.;, <!>;, Z66#(*#3, /&3/2
34-/&0, 1#$%&'7$%+*, 1/0-%*/'&, %$'&0, *5# 8/34%$+, 3/+.$%), 7-'%3, 3#./01#&*#3
3'-+'2$%*#-%$, .%*5A%), 9-#8/#A#3, /&, -#6; .%*(5#+@,1'+*,.-'1/&#&*,'&,*5#,(#&*-%$
!U>@, %&3, *5#/-, .-'.#-, #W.-#++/'&, /+, -#2 6'-#5#%3, %&3, *-4&F;, ]&*#-#+*/&0$)@, *5#
\4/-#3, 6'-, +4-8/8%$@, .-'$/6#-%*/'&@, %&3T'- 8#&*-%$, %+.#(*, '6, *5#, 7'3), /+, 1'-#, 6-#2
1/0-%*/'&,'6,1#$%&'7$%+*+; \4#&*$),%66#(*#3,*5%&,*5#,3'-+%$,%+.#(*@
`#6#(*+,/&,#/*5#-,J?C,'-,/*+,J3&-K,-#2 +4..'+#3$), 7#(%4+#, /*, /+, *5#, %-#%, 6%-2
(#.*'-, -#+4$*, /&, .-'1/&#&*, 1#$%&'()*# *5#+*, 6-'1, *5#, 3'-+%$$), $'(%*#3, -%$
$'++;!X,]*,%..#%-+,*5%*,*5#,-#(#.*'-,.$%)+ (-#+*, A5#-#, 1#$%&'7$%+*, 1/0-%*/'&, 7#2
%,1'-#,(-/*/(%$,-'$#,/&,1#$%&'()*#,3#8#$2 0/&+;!e@B!, O'1.$#*#, %7+#&(#, '6, 1#$%&'2
'.1#&*, %+, ('1.%-#3, *', /*+, $/0%&3@, %+ ()*#+,%+,A#$$,%+,%7&'-1%$/*/#+,'6,*5#,-#2
J?C,&4$$,1/(#,3',&'*,5%8#,%+,+#8#-#,3#2 .-'34(*/8#, %&3, 5#1%*'.'/#*/(, +)+*#1+@
./01#&*#3, .5#&'*).#, %+, J3&-K, &4$$ A5'+#, 3#8#$'.1#&*, %$+', 3#.#&3+, '&
1/(#;,K#(%4+#,J?+,%&3,J3&-+,%$+',%66#(* M:TP/*, -#(#.*'-@, 5%8#, 7##&, '7+#-8#3, /&
*5#, 3#8#$'.1#&*, '6, -%$, (-#+*, (#$$+ 1/(#, A/*5, 5'1'Y)0'4+, $'++, '6, M:, '-
'*5#-,*5%&,1#$%&'7$%+*+@,3#6#(*+,/&,J?C (2P/*;BB@BC
'-, J3&-K, $#%3, *', 3/+#%+#, +)1.*'1%*'$2
456789*:;<# )=9;:A=68' 6M' N4I:86KI:HA' ?;45 '0),7#)'&3,./01#&*%-),3/+'-3#-+@,+4(5
%+,*5%*,.-#+#&*,/&,*).#,]d,I%%-3#&74-0 04?:A6G>A4'J;6WAB'(:GA6;
G7;H6;HO' )=9;:A=89' N4I:86KI:HAH' =8' :8' &XXOY
+)&3-'1#, %&3, /&, R/-+(5+.-4&0, +)&2 RS:,9+(%**#-,6%(*'->,/+,*5#,$/0%&3,6'-,*5#
A;:8H948=G' N67H4'4NK;>6'4V?;4HH=89'AB4'*:G' Z
3-'1#!X,9+##,%$+',O5%.;,<!>; *-%&+1#17-%&#,*)-'+/&#,F/&%+#,-#(#.*'-
;4?6;A4;' 9484' 78@4;' AB4' G68A;6I' 6M' AB4' N4I:865
"#*;,]&,8/*-',+*43/#+,.#-6'-1#3,'&,142
G>A45H?4G=[G' !GA' \!$1+GB;6N4' A:7A6N4;:H4]
-/&#,-%$,(-#+*,(#$$+,+5'A,*5%*,RS:,/&2
?;6N6A4;O' /B4' N4I:86KI:HAH' :;4' L=H7:I=S4@' K> #A44I'(:GA6;
34(#+, 1#$%&'7$%+*, .-'$/6#-%*/'&, %&3, %$2
HA:=8=89'M6;' 59:I:GA6H=@:H4O'\^H4@'W=AB'?4;N=H5 J%-$),1#$%&'7$%+*,3#8#$'.1#&*,-#\4/-#+ $'A+, *5#/-, 3/66#-#&*/%*/'&, /&*', 1%*4-#
H=68'M;6N'":8'C:G<H68':8@'+I=H68'F=I<=4R')4@=G:I *5#, .-#+#&(#, '6, *5#, ()*'F/&#, M:, 91%+*T 1#$%&'()*#+;BG, ]&, %33/*/'&@, RS:, -#042
%4H4:;GB'-678G=IR'07N:8'J484A=GH'^8=AR'F4HA4;8 MO:@,(2P/*,$/0%&3>,%&3,/*+,*)-'+/&#,F/&%+# $%*#+, (%35#-/&, #W.-#++/'&, /&, 1#$%&'2
J484;:I'06H?=A:IR'&@=8K7;9BR'#G6AI:8@O] *-%&+1#17-%&#, -#(#.*'-, (2P/*;!<, M:, /+ ()*#+@, +.#(/E(%$$), 3'A&-#04$%*/&0, J2
#W.-#++#3, 7), #./3#-1%$, F#-%*/&'()*#+@ (%35#-/&@, *54+, %66#(*/&0, 1#$%&'7$%+*
8%+'%(*/8#, .-'.#-*/#+@, *5%*, /&($43#, *5-## %&3@, %+, +''&, %+, (2P/*, /+, #W.-#++#3, '& 5'1/&0, 9+##, O%35#-/&+>;, ]&*#-#+*/&0$)@
1#17#-+@,J?!@,J?B@,%&3,J?C,9-#8/#A#3 1#$%&'7$%+*+@, *5#), 7#0/&, *5#/-, 1/0-%2 /&, 1/(#@, !"#, &4$$, 14*%*/'&+, 3', &'*, %.2
/&, -#6;, !U>;, ?5#), %-#, .-'34(#3, 8/%, .-'2 */'&,*',*5#/-,E&%$,3#+*/&%*/'&,9-#8/#A#3 .#%-, *', %66#(*, 1#$%&'7$%+*, &417#-, '-
*#'$)+/+, '6, $%-0#-, .-#(4-+'-, 1'$#(4$#+; /&,-#6;,!b>; 1/0-%*/'&@, %&3, &', 3#(-#1#&*+, /&, "#*
c/F#, I&*@, J?+, 7/&3, %&3, %(*/8%*#, 5#.*%2 D/#7%$3/+1,/+,%&,%4*'+'1%$,3'1/&%&* 64&(*/'&,5%8#,7##&,/3#&*/E#3,*',3%*#,/&
5#$/(%$, *-%&+1#17-%&#, S, .-'*#/&V$/&F#3 3/+'-3#-, *5%*, -#+4$*+, 6-'1, 14*%*/'&+, '6 541%&,./01#&*%-),3/+'-3#-+;,?54+@,*5#
-#(#.*'-+, J3&-Z, %&3, K;, J?C@, A5/(5, /+ (2P/*,'-,M:,%&3,$#%3+,*',1#$%&'7$%+*,6%/$2 -'$#, '6, RS:T"#*, +/0&%$/&0, 34-/&0, 1#$2
+)&*5#+/Y#3, 7), #(*'3#-1%$, (#$$+@, %&3, /*+ 4-#,*',1/0-%*#,*',*5#,+F/&,%&3T'-,+4-8/8# %&'()*#,3#8#$'.1#&*,/+,+*/$$,4&($#%-;
456789*:;<3 %497I:A=68'6M'N=G;6?BAB:IN=:5:HH6G=:A4@'A;:8HG;=?A=68'M:GA6;'\)=AM]'A;:8HG;=?A=68'K>'F8A'H=98:I=89O'=>'FB48'F8A'=H'86A'K678@'A6'(;=SSI4@R':
N4NK;:845H?:88=89'@6N:=8';4G4?A6;R'(;=SSI4@'=H'=8:GA=L4O'^8@4;'AB4H4'=8:GA=L4'G68@=A=68HR'9I>G6948'H>8AB:H4'<=8:H4'T '\J#_T ]'=H'G6N?I4V4@'W=AB' 5G:A48=8R
48B:8G=89'=AH'7K=`7=A=85N4@=:A4@'@49;:@:A=68'K>'G4II7I:;'?;6A46H6N4HO'$>'F8A'K=8@=89':GA=L:A4H'(;=SSI4@R'I4:@=89'A6'J#_T '@=HH6G=:A=68'M;6N' 5G:A48=8O' 5
!"3 -:A48=8'AB48'A;:8HI6G:A4H'A6'AB4'87GI47HR'WB4;4'=A'K=8@H'W=AB'H?4G=[G'A;:8HG;=?A=68'M:GA6;H'\/;'M:GA6;]'A6'=8=A=:A4')=AM'A;:8HG;=?A=68O
-:@B4;=8H
O%35#-/&+,%-#,%,6%1/$),'6,*-%&+1#17-%&#
0$)('.-'*#/&+, 9J2@, D2@, %&3, f2>, *5%*, .-'2
1'*#, (%$(/4123#.#&3#&*, (#$$2*'2(#$$, %32
5#+/'&, 9-#8/#A#3, /&, -#6;, BU>;, ]&, 1#$%&'2
7$%+*+@, *5#/-, ()*'.$%+1/(, 3'1%/&+, 7/&3
2(%*#&/&;, "4-/&#, +*43/#+, +5'A, *5%*, J2
(%35#-/&, /+, /&34(#3, /&, 1#$%&'7$%+*+, 7#2
6'-#,*5#/-,#&*-),/&*',*5#,#./3#-1/+;,c%*#-@
A5#&,1#$%&'7$%+*+,1/0-%*#,/&*',*5#,5%/-
6'$$/($#@, J2(%35#-/&, #W.-#++/'&, /+, 14*#3@
%&3, 1#$%&'7$%+*+, 7#0/&, *', #W.-#++, D2
(%35#-/&;BX@B<,]*,/+,*5'405*,*5%*,(''-3/&%*#
#W.-#++/'&, '6, J2(%35#-/&+, 7), #./3#-1%$
F#-%*/&'()*#+, %&3, 1#$%&'()*#+, .$%)+, %
-'$#,/&,+4..-#++/&0,1#$%&'()*#,.-'$/6#-%2
*/'&, /&, *5#, #./3#-1/+;, ]&*#-#+*/&0$)@, %*
*/1#+@, +'1#, #./3#-1%$, 1#$%&'()*#+
+A/*(5, 6-'1, J2(%35#-/&, *', f2(%35#-/&@
%&3,*5/+,+A/*(5,%$$'A+,*5#1,*',#+(%.#,*5#
F#-%*/&'()*#21#3/%*#3, 0-'A*5, +4..-#+2
+/'&,%&3,.-'$/6#-%*#T%00-#0%*#,/&,&#+*+,*'
6'-1, '(#$$4$%-, /;Bb, S#&#-%$$)@, (%32
5#-/&,#W.-#++/'&,7),1#$%&'()*#+,1%*(5#+ 456789*:;<? )4I:86G>A4'HA4N'G4IIH'=8'AB4'B:=;'M6II=GI4'K7I94O'+'HA4N'G4II'N4I:86G>A4'=H'HB6W8'=8'AB4
(%35#-/&,#W.-#++/'&,'6,+4--'4&3/&0,(#$$+; B:=;'M6II=GI4'K7I94R'=8@=G:A4@'K>':8',**-/'=8'AB4'B=9B5?6W4;'=8H4;AO'/B4H4'G4IIH'HA:=8'?6H=A=L4'M6;'/%15g'\0*&&$
12-*&'3&$3&]R':8'4:;I>'N:;<4;'6M'G6NN=AN48A'A6'AB4'N4I:86G>A4'I=84:94R'K7A':;4'849:A=L4'M6;'AB4'?;6I=M4;:5
#"/&5#1&-"("-')&*+,$-./&# A=68'N:;<4;'_=5i2'\*&4"12-*&'3&$3&]'AB:A'GB:;:GA4;=S4H'N4I:86G>A4H'N=9;:A=89'@6W8'AB4'M6II=GI4'A6'AB4'@4;5
N:I'?:?=II:'@7;=89'AB4':8:948'?B:H4'6M'AB4'B:=;'G>GI4O'\(;6N'D6AGB<:;4L:',E'4A':Ie'#-(PG5<=A'H=98:I=89'=H';45
)4I:86G>A4'#A4N'-4IIH `7=;4@'M6;'G>GI=G';49484;:A=68'6M'AB4'B:=;'?=9N48A:A=68'78=AO'56789"!'#!eiUYR'g33XR'W=AB'?4;N=HH=68O]
S#&#-%$$)@, +*#1, (#$$+, %-#, 3#E, 7)
*5#/-,4&3/66#-#&*/%*#3,+*%*#,%&3,*5#/-,(%2 +)&*5#+/Y#, 1#$%&/&@, %, ./01#&*#3, .'$)2 6-'1, 1#$%&'()*#+, *', F#-%*/&'()*#+, *'
.%(/*),*',3#8#$'.,/&*',+#8#-%$,3/66#-#&*/2 1#-,*5%*,/+,+*'-#3,/&,()*'+'$/(,'-0%&#$$#+ 1%/&*%/&,(4*%&#'4+,./01#&*%*/'&;
%*#3, (#$$, *).#+;, ?5#), %-#, \4/#+(#&*@ (%$$#3,$"%&'()($"),*5%*,%-#,*-%&+6#--#3,*' ?5#, *#-1, g#./3#-1%$, 1#$%&/&, 4&/*h
+$'A2()($/&0, (#$$+, *5%*, 6-#\4#&*$), %-# F#-%*/&'()*#+, *5-'405, 1#$%&'()*#, 3#&2 3#+(-/7#+,%,+/&0$#,#./3#-1%$,1#$%&'()*#
6'4&3, /&, &/(5#+, A5#-#, *5#), %-#, +4-2 3-/*/(, .-'(#++#+, 9:/0;, <=2G>;, Z+, F#-%*/&'2 +4--'4&3#3, 7), +#8#-%$, #./3#-1%$, F#2
-'4&3#3, 7), 3/66#-#&*/%*#3, (#$$+, *5%*, %62 ()*#+, %-#, ('&*/&4'4+$), 7#/&0, 3#+\4%2 -%*/&'()*#+C!, 9:/0;, <=2U>;, ]&*#-#+*/&0$)@
6#(*,*5#/-,7#5%8/'-,*5-'405,*5#,+#(-#*/'& 1%*#3@, *5#-#, /+, %, ('&+*%&*, &##3, 6'- +/0&%$+, 6-'1, F#-%*/&'()*#+, +47+*%&*/%$$)
'6, ()*'F/&#+, %&3, 0-'A*5, 6%(*'-+, 9-#2 +)&*5#+/+, %&3, *-%&+6#-, '6, 1#$%&'+'1#+ -#04$%*#,#./3#-1%$,1#$%&'()*#,+4-8/8%$@
8/#A#3,/&,-#6+;,Be,%&3,C=>; 3#&3-/(/*)@, 1#$%&'0#&#+/+@, %&3, *5#, #W2
"#$%&'()*#, +*#1, (#$$+, -#+/3#, /&, *5# .-#++/'&, '6, (#$$, +4-6%(#, -#(#.*'-+CB, 9+##
5%/-, 6'$$/($#, 74$0#, 9:/0;, <=2C>;, ?5#), #W2 M/0&%$/&0, D%*5A%)+, _#04$%*/&0, "#$2
.-#++, ?_D2B, %+, A#$$, %+, *5#, -%$, (-#+* %&'()*#, :4&(*/'&>;, "'+*, F#-%*/&'()*#2
+*#1,(#$$,/&*#-1#3/%*#,E$%1#&*,&#+*/&,/& 3#-/8#3,+/0&%$+,%-#,/&34(#3,7),4$*-%8/'2
%33/*/'&, *', '*5#-, -%$, (-#+*, +*#1, (#$$ $#*,9[d>,/--%3/%*/'&;
1%-F#-+@,/&($43/&0,*5#,*-%&+(-/.*/'&,6%(2 "#$%&'()*#,3#&+/*)T11B,-%&0#+,6-'1
*'-+, M'W!=, %&3, D%WU, *5%*, .%-*/(/.%*#, /& %..-'W/1%*#$), UU=, *', i, !B==@, A/*5, *5#
*5#, -#04$%*/'&, '6, "/*6, %&3, ?_D2B;, "#$2 5/05#+*,('&(#&*-%*/'&+,6'4&3,/&,*5#,0#&2
%&'()*#, +*#1, (#$$+, (%&, $#%8#, *5#, 74$0# /*%$/%, %&3, 6%(#;CC@CG, "#$%&'()*#, 3#&2
-#0/'&, %&3, 1/0-%*#T3/66#-#&*/%*#, /&, *5# +/*),/+,*5#,+%1#,/&,/&3/8/34%$+,'6,3/66#-2
#./3#-1/+,'-,*5#,5%/-,6'$$/($#; #&*, #*5&/(, 7%(F0-'4&3+@CG, %&3, *54+
456789*:;<@ )4I:86H6N4H' :;4' 6;9:8=S4@ (4*%&#'4+, ./01#&*%*/'&, 3'#+, &'*, 3#2
-7A:8467H')4I:86G>A4H =8A6' H7?;:87GI4:;' aG:?Hb' W=AB=8' <4;:A=86G>A4HO .#&3, '&, 1#$%&'()*#, &417#-@, 74*
,6A4'N4I:8=S4@'@48@;=A=G'N4I:86G>A4H':8@':@c:5 -%*5#-, '&, 1#$%&'0#&/(, %(*/8/*), A/*5/&
?5#, $%-0#+*, &417#-, '6, 1#$%&'()*#+, /+ G48A'<4;:A=86G>A4H'W=AB'AB4'H7?;:87GI4:;'aG:?HOb *5#,1#$%&'()*#@,*5#,.-'.'-*/'&,'6,1%2
.-#+#&*, /&, *5#, +F/&, %&3, 5%/-, 6'$$/($#+;, ]& *4-#, 1#$%&'+'1#+@, %&3T'-, *5#/-, *-%&+2
)4I:8=8'H=IL4;'HA:=84@'\(68A:8:5):HH68]'H4GA=68
1'+*, 64--#3, 1%11%$+@, 1#$%&'()*#+, %-# 6#-, %&3, 3/+*-/74*/'&, A/*5/&, *5#, F#-%*/2
6M':'B4:L=I>'N4I:8=S4@'B7N:8'4?=@4;N=HO'\D:;'d
6'4&3,'&$),/&,*5#,5%/-,6'$$/($#@,74*,/&,542 &'()*#+, 9-#8/#A#3, /&, -#6;, CU>;, ]&3##3@
1%&+,1#$%&'()*#+,%-#,%$+',.-#+#&*,/&,/&2 Y3'!)O]'\(;6N'D>4;H'0%'4A':Ie'%6I4'6M'G>A6?I:HN=G /&, $/05*2+F/&, /&3/8/34%$+@, 1#$%&'2
*#-6'$$/(4$%-,#./3#-1/+@,+.#(/E(%$$),/&,*5# @>84=8' =8' ?4;=87GI4:;' :99;49:A=68' 6M' ?B:96G>5 +'1#+, %-#, +1%$$#-, %&3, %-#, .-#+#&*, /&
7%+%$,$%)#-,9-#8/#A#3,/&,-#6;,Bb>;,?5#-#,/+ A6H4@' N4I:86H6N4H' :8@' H7?;:87GI4:;' N4I:8=8 ($4+*#-+, A/*5/&, *5#, F#-%*/&'()*#+@
%..-'W/1%*#$), '&#, 1#$%&'()*#, .#-, E8# G:?' M6;N:A=68' =8' B7N:8' <4;:A=86G>A4HO' !" #$%&'( A5#-#%+, /&, #*5&/(, 0-'4.+, A/*5, 3%-F#-
'-, +/W, 7%+%$, F#-%*/&'()*#+;, "#$%&'()*#+ )&*+,(-.'#3#efXTR'g33Th'W=AB'?4;N=HH=68O] ('1.$#W/'&@, 1#$%&'+'1#+, %-#, $%-0#-@
!"?
= $
456789*:;<! /B4'4?=@4;N:I'N4I:8=8'78=AO'=>'%4?;4H48A:5
A=68'HB6W=89'AB4';4I:A=68HB=?'K4AW448'K:H:I'N4I:86G>A4HR'<45
;:A=86G>A4HR':8@'*:894;B:8H'G4IIHR'HB6W8':A'AB4'7??4;'I:>4;'6M
AB4' 4?=@4;N=HO' \(;6N' j74L4@6' F-' C;O' /B4' G68A;6I' 6M' G6I6;' =8
N:NN:IHO'6+":--.-0;'"eYTXR'XkikR'W=AB'?4;N=HH=68O]'$>'&I4G5
A;68' N=G;69;:?B' 6M' AB4' 4?=@4;N:I5@4;N:I' c78GA=68' 6M' B7N:8
H<=8'HB6W=89':'@48@;=A=G'N4I:86G>A4'\)]':N689'AB4'K:H:I'<45
;:A=86G>A4H'\_]O'< ';4?;4H48AH':'K:H:I'<4;:A=86G>A4'78@4;96=89
N=A6H=H'W=AB'G68@48H4@'GB;6N:A=8'\,**-/']O'\D:;'d'X3O3'!NO]
\"II7HA;:A=68'7H4@'W=AB'?4;N=HH=68'M;6N'%:>N68@'&O'D6=HH>R'!45
?:;AN48A' 6M' !4;N:A6I69>R' ^8=L4;H=A>' 6M' -=8G=88:A=R' -=8G=88:A=R
$B=6O]' A>' 07N:8' 4?=@4;N=H' =NN786HA:=84@' M6;' [K;6KI:HA
A 9;6WAB'M:GA6;5g'\(J(g]O'/B4'[97;4'HB6WH'K:H:I'<4;:A=86G>A4H
W=AB'?4;6V=@:H4';4:GA=68'=8@=G:A=89'AB4'?;4H48G4'6M'=NN786;45
:GA=L4'(J(gO'6**-/''?6=8A'A6'N4I:86G>A4HO'\^H4@'W=AB'?4;N=H5
H=68'M;6N'JI>8=H'#G6AAR')O!OR'!4?:;AN48A'6M'!4;N:A6I69>R'^8=5
L4;H=A>' 6M' %6GB4HA4;' #GB66I' 6M' )4@=G=84' :8@' !48A=HA;>R
%6GB4HA4;R',.O]'B*./C*9>'!=HA;=K7A=68'6M'N4I:86H6N4H'W=AB=8
<4;:A=86G>A4H' =8' I=9BAI>' ?=9N48A4@' -:7G:H=:8' :8@' @:;<I>' ?=95
N48A4@' +M;=G:8' +N4;=G:8' H<=8O' )4I:86H6N4H' =8' I=9BAI>' ?=95
N48A4@' -:7G:H=:8' H<=8' DBE' :;4' @=HA;=K7A4@' =8' N4NK;:845
K678@'GI7HA4;HO'"8'G68A;:HAR'=8'@:;<I>'?=9N48A4@'+M;=G:8'+N4;5
=G:8' H<=8' D9E' AB4' N4I:86H6N4H' :;4' =8@=L=@7:II>' @=HA;=K7A4@
AB;679B67A'AB4'G>A6?I:HN'6M'4?=@4;N:I'<4;:A=86G>A4HO')4I:865
H6N4H'=8'K6AB'H<=8'A>?4H':;4'M;4`748AI>'G68G48A;:A4@'6L4;'AB4
:?=G:I'?6I4'6M'AB4'87GI47H'\,**-/']O'*'d'*:894;B:8H'G4IIO'\D:;
d'TO3'!NO]'\(;6N')=8W:II:'*'4A':Ie'_4;:A=86G>A4H'?I:>':';6I4'=8
;497I:A=89' @=HA;=K7A=68' ?:AA4;8H' 6M' ;4G=?=48A' N4I:86H6N4H' =8
B 9 L=A;6O'!"#$%&'(")&*+,(-.'##:eTUXR'g33XO]
)&*+,$#$)&#
)4I:86H6N4'D=69484H=H
?5#, 1#$%&'+'1#, /+, %, 4&/\4#, 1#12
7-%'4&3, '-0%&#$$#, /&, A5/(5, 1#$%2
&/&, 7/'+)&*5#+/+, *%F#+, .$%(#;, K#(%4+#
1#$%&'+'1#+, ('&*%/&, #&Y)1#+, %&3
'*5#-, .-'*#/&+, %$+', .-#+#&*, /&, $)+'2
456789*:;<" )4I:86H6N4' K=69484H=HO' &I4GA;68' N=G;6HG6?>' 6M' 47N4I:86H6N4' D.L+E' :8@' 6M
+'1#+@, *5#), %-#, *5'405*, *', -#.-#+#&*, %
?B46N4I:86H6N4'D(LME'@4L4I6?N48AO'"R'""R'"""R':8@'"E'=8'.LM';4?;4H48A'AB4'@=MM4;48A'N:A7;:A=68'HA:94H'6M
1'3/E#3, 8#-+/'&, '6, *5#, $%**#-;, D-'*#/&+
('11'&,*',7'*5,'-0%&#$$#+,/&($43#,*5# N4I:86H6N4HO'l#G:I4'K:;H':;4':H'M6II6WH'\=8'!N]e':'d'3Og3h'K'd'3OgTh'G'd'3OgUh'@'d'3Oggh'4'd'3Og3h'M'd
$/.'+'1%$2%++'(/%*#3, 1#17-%&#, .-'2 3OTYh'B'd'3Ogih'='d'3Ogih'c'd'3OT3h'<'d'3OYOm'\(;6N'#I6N=8H<='+'4A':Ie')4I:8=8'?=9N48A:A=68'=8'N:NN:5
*#/&+, 9cZ"D+>, *5%*, .%-*/(/.%*#, /&, %42 I=:8'H<=8':8@'=AH'B6;N68:I';497I:A=68O'AB;'C-."@&%'K@eXXYYR'g33UR'W=AB'?4;N=HH=68'M;6N'AB4'+N4;=G:8
!"F *'.5%0), %&3, -#04$%*/'&, '6, /&*-%28#+/(42 1B>H=6I69=G:I'#6G=4A>O]
+8(%1(
1)19#(') J1.(-*5N
J1.(-*555
2+,3
J1.(-*55 J1.(-*5
/'0$%$1) !"#$%&'(%).
!*+,- !*+,7
!"#$%&'(%). OP./2<6&'(%*/-1Q&PR
!*+,-
: : +4/5-6.
42*!,-
6&'(%
: :
98
!"#$%&'(%)
: :
!*+,- !*+,7
456789*:;<#; #6;A=89'6M'N4I:86H6N:I'?;6A4=8H'=8A6'N4I:86H6N4HO'/>;6H=8:H4':8@'A>;6H=8:H45;4I:A4@'?;6A4=85X'\/%15X]':;4'=8=A=:II>'H>8AB4H=S4@'=8'AB4'485
@6?I:HN=G';4A=G7I7N'\&%]':8@R':MA4;':@@=A=68:I'N:A7;:A=68'HA4?H'\n]'=8'AB4'J6I9=':8@'/;:8H5J6I9='84AW6;<R':;4'?:G<:94@'=8'48@6H6N4H':H':'G6N?I4VO'/%15g'M6I5
I6WH'H=N=I:;'N:A7;:A=68'HA4?HO')4I:86H6N4H'6;=9=8:A4'=8'AB4'&%':H'HA:94'"':I;4:@>'G68A:=8=89'AB4'N4I:86H6N:I'?;6A4=8H'1)&*X2':8@')+%/5XO'/B4>'AB48'N:5
A7;4'A6'HA:94'""'N4I:86H6N4H':8@'M7H4'W=AB'A>;6H=8:H4P/%15X'=8':'?;6G4HH'@=;4GA4@'K>'AB4':@:?A6;'?;6A4=8'T'\+15T]O')4I:86H6N4H'K4G6N4'?;69;4HH=L4I>'@:;<4;
:H'N4I:8=8'K=6H>8AB4H=H'A:<4H'?I:G4O
= $
456789*:;<#? )=G;6?BAB:IN=:5:HH6G=:A4@'A;:8HG;=?A=68'M:GA6;'\)=AM]';497I:A=68O'=>')=AM'=H':GA=L:A4@'WB48'HA44I'M:GA6;'\#(]'K=8@H'A6'=AH'G4II'H7;M:G4';4G4?A6;
G5_=AO'#(PG5_=A'=8A4;:GA=68':GA=L:A4H'N=A69485:GA=L:A4@'?;6A4=8'\)+1]'<=8:H4HR'WB=GB'AB48'?B6H?B6;>I:A4')=AMO'1B6H?B6;>I:A4@')=AM'AB48';4G;7=AH'AB4'G65A;:8HG;=?5
A=68':GA=L:A6;'-D1P?T33R':8@'AB4'G6N?I4V'K=8@H'A6'AB4')5'6;'&5K6V4H'\)P&'K6V]'W=AB=8'AB4'?;6N6A4;'6M'A:;94A'9484H'A6';497I:A4'AB4=;'A;:8HG;=?A=68O')=AM'G:8':IH6
K4'?B6H?B6;>I:A4@':A':'@=MM4;48A'H=A4'K>'?k3P%#_'<=8:H4O'D6AB'?B6H?B6;>I:A=68'4L48AH'I4:@'A6')=AM'7K=`7=A=8:A=68':8@'H7KH4`748A'?;6A46H6N45N4@=:A4@'@495
;:@:A=68O'$>'$8'K=8@=89'A6'N4I:86G6;A=8';4G4?A6;5X'\)-X%]R' 5N4I:86G>A45HA=N7I:A=89'B6;N684'\ 5)#0]P:@;486G6;A=G6A;6?=G'B6;N684'\+-/0]':GA=L:A4'AB4'485
S>N4':@48>I:A4'G>GI:H4'AB:A'7?;497I:A4H'AB4'G>GI=G':@486H=84'N686?B6H?B:A4'\G+)1]'I4L4IR'I4:@=89'A6'G+)15;4H?68H4'4I4N48A'K=8@=89'?;6A4=8'\-%&D]':GA=L:5
A=68':8@'K=8@=89'=AH'!,+'G68H48H7H'H4`748G4'-%&'=8'AB4')=AM'?;6N6A4;'A6'=8@7G4')=AM'A;:8HG;=?A=68O
.-'.'+#3@, %+, 4&3#-, (#-*%/&, ('&3/*/'&+@ %-#, 6'4&3, /&, *5#, ./01#&*%-), 3/+'-3#- 1#$%&'('-*/&V3#-/8#3, .#.*/3#, *5%*, ('&2
"/*6,/&34(#+,*5#,#W.-#++/'&,'6,*5#,(#$$,()2 I%%-3#&74-0, +)&3-'1#, *).#, B!CG, 9+## *%/&+, *5#, 2"MR, +#\4#&(#, 9:/0;, <=2!GZ>
($#V%++'(/%*#3, F/&%+#, O3FB, *5%*, /+, /&2 O5%.;,<!>; 9-#8/#A#3, /&, -#6+;, !CeV!G!>@, %(*/8%*#
8'$8#3,/&,*5#,.-'0-#++/'&,'6,(#$$+,6-'1,S! "O!_, 9+##, :/0;, <=2!GK>;, _#(#.*'-, $/0%&3
/&*',M,.5%+#,'6,*5#,(#$$,()($#;!C=,"/*6,%$+' 7)-('$;$#.&'050,);)<.$#* "#$%&'('-*/&, -#2 /&*#-%(*/'&, $#%3+, *', S2.-'*#/&V3#.#&3#&*
+4..-#++#+, *5#, #W.-#++/'&, '6, .B!@, %, .-'2 (#.*'-+, 9"O_+>, ('1.-/+#, %, 6%1/$), '6 %(*/8%*/'&, '6, *5#, #&Y)1#, %3#&)$%*#, ()2
*#/&, *5%*, /&5/7/*+, O3FB, %(*/8%*/'&;!C=@!C! E8#, -#$%*#3, -#(#.*'-+, 9"O!_@, "OB_@ ($%+#, 6'$$'A#3, 7), /&(-#%+#3, /&*-%(#$$4$%-
O'&8#-+#$)@, 4&3#-, 3/66#-#&*, ('&3/*/'&+@ "OC_@, "OG_@, %&3, "OU_>;, J%(5, 5%+ (Z"D, $#8#$, 9-#8/#A#3, /&, -#6;, !Ce>@, /&34(2
"/*6,(%&,/&34(#,.B!,#W.-#++/'&@,%&3,/*,(%& +#8#&, *-%&+1#17-%&#, 3'1%/&+@, %&3 /&0,"/*6,*-%&+(-/.*/'&,%&3,4.-#04$%*/&0,*5#
%$+',+*/14$%*#,*5#,#W.-#++/'&,'6,.!X]fPG%@ *5#), 7#$'&0, *', *5#, S2.-'*#/&V('4.$#3 $#8#$, '6, 1#$%&'0#&/(, .-'*#/&+@, /&($43/&0
%,.-'*#/&,*5%*,/&5/7/*+,*5#,%(*/8%*/'&,'6,F/2 -#(#.*'-, +4.#-6%1/$);!CU, "OC_, %&3 *)-'+/&%+#@G=, .-'1'*/&0, *5#, +)&*5#+/+, '6
&%+#+, -#\4/-#3, 6'-, .-'0-#++/'&, *5-'405 "OG_, %-#, 1%/&$), 6'4&3, /&, *5#, (#&*-%$ 7-'A&T7$%(F,#41#$%&/&,9-#8/#A#3,/&,!Ce>;
*5#,(#$$,()($#@,*54+,.-'1'*/&0,(#$$,()($#,%-2 &#-8'4+, +)+*#1@, %-#, %7+#&*, /&, 1#$%&'2 Z0'4*/@, %, .-'*#/&, #W.-#++#3, /&, 7'*5, 542
-#+*;!CB@!CC, K#(%4+#, "/*6, (''.#-%*#+, A/*5 ()*#+@!CX,%&3,%-#,*5'405*, *', ('&*-'$,#&2 1%&+,%&3,1/(#@,A5'+#,#W.-#++/'&,/&,1/(#
'*5#-,*-%&+(-/.*/'&,6%(*'-+,*',/&34(#,/*+,#62 #-0), /&*%F#;, "OB_, /+, #W.-#++#3, /&, *5# $#%3+,*',)#$$'A,('%*,('$'-@,%&*%0'&/Y#+
6#(*+@,/*,/+,*',7#,#W.#(*#3,*5%*,*5#+#,*-%&+2 %3-#&%$, ('-*#W@, %&3, "OU_, /+, #W.-#++#3 2"MR,7),('1.#*/*/8#,7/&3/&0,*',"O!_;
(-/.*/'&, 6%(*'-+, A'4$3, /&H4#&(#, "/*6, %(2 /&,.#-/.5#-%$,%3/.'()*#+;!C<,"O!_,/+,#W2 ]*, *54+, 7$'(F+, %3#&)$%*#, ()($%+#, %(*/8%2
*/8/*)@, -#+4$*/&0, /&, #/*5#-, +*/14$%*/'&, '- .-#++#3,/&,%,&417#-,'6,(#$$+@,+4(5,%+,#&2 */'&!GBV!GG, %&3, 6%8'-+, .5#'1#$%&/&, '8#-
/&5/7/*/'&,'6,1#$%&'()*#,.-'$/6#-%*/'&; 3'*5#$/%$,(#$$+@,E7-'7$%+*+@!Cb,%&3,F#-%*/2 #41#$%&/&, +)&*5#+/+, 9:/0;, <=2!U>;, R'A2
"/(#,7#%-/&0,&4$$,14*%*/'&+,'6,!CDE &'()*#+@!Cb,74*,*5#,5/05#+*,#W.-#++/'&,/+ #8#-@,*5#,-'$#,'6,%0'4*/,/&,541%&,./01#&2
3/+.$%), $'++, '6, 1#$%&'()*#+@, 3#%6&#++@ 6'4&3,/&,1#$%&'()*#+;!Cb *%*/'&,/+,.''-$),3'(41#&*#3;
%&3, 6%/$4-#, '6, 3/66#-#&*/%*/'&, '6, -#*/&%$ 2"MR, %&3, %3-#&'('-*/('*-'./(, 5'-2 D'$)1'-.5/+1+, A/*5/&, *5#, !A8F
./01#&*,#./*5#$/41;!B,"4*%*/'&+,/&,!CDE 1'&#, 9ZO?R>@,%,Ce, %1/&', %(/3, .-''./'2 0#&#, %-#, $%-0#$), -#+.'&+/7$#, 6'-, *5#, 3/62
F;;
2!!<
<7>,"?"4/<@*ABC+DBCC**+D ,)'0$#JK&'
CD?+>B2/E/"2/2@+5/@,F< GGGGG?BB@4!"/C"L!+5D
GGGGGGGGGGGGGGG-3H,-6I GGGG!5@C>2MMC>2?CCB/
736,7I6
GGGGGGGGG66,HH 7-6,73P
<7>,?D4B<@*AE*@B,F< <7>,E/B+?*4/<@*AB"++CE,F<
,4"<
-3H,-N7 ,4"<
2O,"?"4/<@*ABC+DBC,><7
= ,4"< =
$
456789*:;<#! &7N4I:8=8' :8@' ?B46N4I:8=8
?;4H48A:A=68'=8'N=G4O'=>'/W6'N=G4'W=AB'@=MM4;48A
G6:A' G6I6;H' :;4' HB6W8O'/B4' 684' 68' AB4' I4MA' @=H5
?I:>H' K;6W8PKI:G<' G6:A' G6I6;' @74' A6' 47N4I:8=8R
:8@'AB4'684'68'AB4';=9BA'@=H?I:>H';4@P>4II6W'G6:A
G6I6;'@74'A6'?B46N4I:8=8O'$>'%4?;4H48A:A=L4'B:=;
HB:MAH' 6M' AB4H4' N=G4O' \(;6N' #B:;6L' 4A' :Ie' D684
$ N6;?B6948=G' ?;6A4=8' \D)1]' H=98:I=89' G68A;6IH
456789*:;<#@ /B4'N4I:86G6;A=8';4G4?A6;'\)-%]':8@'=AH'I=9:8@HO'=>'#A;7GA7;4'6M'AB4'?;66?=6N4I:86G6;5 B:=;'?=9N48A:A=68'K>'N4:8H'6M'G;6HH5A:I<'W=AB'AB4
A=8'?;4G7;H6;O'#A:8@:;@':KK;4L=:A=68H'M6;':N=86':G=@H':;4'7H4@O'/B4'H>8AB4A=G'H7?4;:GA=L4' 5N4I:86G>A45 N4I:86G6;A=8';4G4?A6;'X'?:ABW:>O'AD67 #;3ekTR
HA=N7I:A=89'B6;N684'\ 5)#0]':8:I6974'l,I4U'!51B42m5 5)#0'=H'N6@=[4@'K>'AB4'4VGB:894'6M'N4AB=68=84 g33UR'W=AB'?4;N=HH=68O]
\)]'W=AB'86;I47G=84':8@'*5?B48>I:I:8=84'\(]'W=AB'!5?B48>I:I:8=84O'"8'*&4':;4'G;=A=G:I':N=86':G=@H';4`7=;4@'M6;
K=8@=89'A6'AB4')-%O'$>'#GB4N:A=G';4?;4H48A:A=68'6M'AB4'B7N:8')-X%';4G4?A6;O'&:GB'6M'AB4'TXf':N=86':G=@ 6'-1#3,/&,1#$%&'+'1#+,*5-'405,%,+#-/#+
'6, 'W/3%*/8#, +*#.+, 9-#8/#A#3, /&, -#6;, !U<>
;4H=@74H'=8'AB4'?6I>?4?A=@4'GB:=8'6M'AB4';4G4?A6;'=H';4?;4H48A4@'K>':8'4N?A>'G=;GI4O'D;:8GB4@'HA;7GA7;4H
9:/0;,<=2!X>;,"#$%&'+'1%$,.R,%66#(*+,*5#
;4?;4H48A D5I=8<4@'9I>G6H>I:A=68'H=A4HO'%4@7G4@'M78GA=68'N7A:8AH'\*&4"3C*3.&']R'L:;=:8AH'G6NN68'=8';4@5'6;
%(*/8/*),'6,*5#,1#$%&'0#&/(,#&Y)1#+,%&3
KI68@5B:=;4@':8@'M:=;'H<=884@'=8@=L=@7:IH'\-*,$0&"3C*3.&']R':8@'AB4'G68H4;L4@'E5A4;N=8:I'G>HA4=84'\0*&&$"3C*F /&H4#&(#+,1#$%&/&,.'$)1#-/Y%*/'&;
3.&]R'AB4'?6HH=KI4'H=A4'M6;'M:AA>':G=@':G>I:A=68':8@':8GB6;=89'A6'AB4'?I:HN:'N4NK;:84R':;4'=8@=G:A4@O'+G'd ?5#,+)&*5#+/+,'6,7'*5,*).#+,'6,1#$%2
:G4A>I:A4@h'+-/0'd':@;486G6;A=G6A;6?=G'B6;N684h',0g'd':N=@:A4@h'/)'d'A;:8HN4NK;:84'@6N:=8O &/&, /&8'$8#+, *5#, -%*#2$/1/*/&0, (%*%$)*/(
+*#.,/&,A5/(5,*5#,%1/&',%(/3,*)-'+/&#,/+
'W/3/Y#3,7),*5#,#&Y)1#,*)-'+/&%+#,9%$+'
6#-#&*, +F/&T5%/-, ('$'-, %1'&0, 3/66#-#&* (-#%+#3,$#8#$,'6,#./3#-1%$, 2"MR@!UU,74* (%$$#3 #*+(),'"4 (G,;&)"@ /0124 (G,;&)"@
#*5&/(,0-'4.+;!GU,Z*,$#%+*,C=,"O!_,8%-/2 3', *%&, /6, .-'8/3#3, 6'-+F'$/&@, %, (5#1/(%$ 1'&'.5#&'$@ cB/012H(G*-"'4 (G,;(+";5.B
%&*+, 5%8#, 7##&, /3#&*/E#3@, %&3, &/&#, '6 #&5%&(#-, '6, ./01#&*%*/'&, *5%*, 7).%++#+ #&)">,*',c2`aDZ@,%,-#%(*/'&,F&'A&,%+,*5#
*5#1, 3/+.$%), $'++, '6, 64&(*/'&!GX@!G<, 9+## *5#, -#(#.*'-, *', 3/-#(*$), /&(-#%+#, (Z"D@ F&7"+B!&)('4 7I&*!Ub, 9+##, :/0;, <=2!X>;
:/0;,<=2!GK>@,&'*,7#/&0,%7$#,*',/&34(#,/&2 3#1'&+*-%*/&0,*5%*,*5#,/&*-%(#$$4$%-,1#$2 O'&8#-+/'&, '6, *)-'+/&#, *', c2`aDZ, /+
*-%(#$$4$%-,(Z"D,.-'34(*/'&,/&, -#+.'&+# %&'0#&/(, .%*5A%), /+, 64&(*/'&%$, /&, +4(5 *5'405*, *', 7#, *5#, (-/*/(%$, -%*#2$/1/*/&0
*', 2"MR,3#+./*#,%3#\4%*#,-#(#.*'-T$/2 /&3/8/34%$+;!UU +*#., /&, 1#$%&'0#&#+/+@, %+, /&5/7/*/'&, '6
0%&3, 7/&3/&0;, a*5#-, "O!_, 8%-/%&*+ *5/+, -#%(*/'&, 7$'(F+, 1#$%&/&, +)&*5#2
5%8#, -#34(#3, %6E&/*), 6'-, 2"MR;!GX@!G< +/+;!Ue,]&,7'*5,-#%(*/'&+@,c2`aDZ,%(*+,%+
?5-##, "O!_, 8%-/%&*+@,#%(5, A/*5, '&$), % )&*+,",'D"$#.,/0&#"# %,('26%(*'-,%&3,%$+',%+,%,+47+*-%*#,6'-,*)2
+/&0$#,%1/&',%(/3,+47+*/*4*/'&@,5%8#,7##& ?A', *).#+, '6, 1#$%&/&+, %-#, +)&*5#+/Y#3 -'+/&%+#;,Z$*5'405,*5#,#W%(*,/&*#-%(*/'&
%++'(/%*#3, A/*5, -#3T)#$$'A, 5%/-, %&3, 6%/- A/*5/&, 1#$%&'+'1#+^, #41#$%&/&, %&3 7#*A##&,*)-'+/&%+#,%&3,/*+,+47+*-%*#+,/+
+F/&!Gb, '6, f'-*5#-&, J4-'.#%&+, %&3, Z4+2 .5#'1#$%&/&;!UX, J41#$%&/&, /+, 3%-F@ &'*, ('1.$#*#$), 4&3#-+*''3@, /&, 8/*-', F/2
*-%$/%&+;!GeV!UG,"/(#, #W.-#++/&0,%,$'++2'62 7-'A&27$%(F@, %&3, /&+'$47$#@, A5#-#%+ &#*/(, +*43/#+, +400#+*, *5%*, 3/+*/&(*, +/*#+
64&(*/'&,"O!_,8%-/%&*,-#(#.*'-,%$+',6%/$ .5#'1#$%&/&, /+, $/05*@, -#32)#$$'A@, +4$64-2 1#3/%*#, *)-'+/&%+#, 7/&3/&0, *', *)-'+/&#
*', -#+.'&3, *', [d, /--%3/%*/'&, A/*5, /&2 ('&*%/&/&0@, %&3, +'$47$#;!UX, "#$%&/&+, %-# %&3, *', c2`aDZ@, %&3, *5%*, 7/&3/&0, *', c2
(-#%+#3, ./01#&*%*/'&, 3#+./*#, %&, /&2 /&3'$#,3#-/8%*/8#+,'6,`aDZ@,%&3,*5#),%-# `aDZ, (%4+#+, %, ('&6'-1%*/'&%$, (5%&0#
F;#
!"#$%&')
!"#$%&'(%)
5,EF+2
!"#$%&'(%)
BUT=VW%/&/-*
B8TQ(QK&$')G
GGGGGG$#GO"%Q)&')
!*+,7
!"#$%&'(%) BX5A=
M'0$8)GNRI,ST&'$')G 28('"8,K"0#$U",
M'0$8)GNRI,ST&'$')
O(#9$U"8&OG(O&0 9)'V$QK&(V&')
!"#$%&'(%)G$#G!*+,7
456789*:;<#F )4I:8=8'K=6H>8AB4H=HO')4I:8=8'K=6H>8AB4H=H'K49=8H'W=AB'AB4':N=86':G=@'A>;6H=84'AB:A'=H'G68L4;A4@'A6'*5!$1+'\TRU'@=B>@;6V>?B48>I:I:8=84]'=8
AB4';:A45I=N=A=89'HA4?'6M'N4I:8=8'K=6H>8AB4H=H'G:A:I>S4@'K>'A>;6H=8:H4O'*5!$1+'=H'H7KH4`748AI>'G68L4;A4@'A6'!$1+`7=8684'K>'AB4'H:N4'48S>N4O'!0"'\YRi5@=B>5
@;6V>=8@6I4]':8@'!0"-+'\YRi5@=B>@;6V>=8@6I45g5G:;K6V>I=G':G=@]':;4'AB48'M6;N4@'A6'?;6@7G4'4=AB4;'KI:G<'6;'K;6W8'47N4I:8=8O'+IA4;8:A=L4I>R'AB;679B'=8G6;?6;:5
A=68'6M'9I7A:AB=684'6;'G>HA4=84R'!$1+`7=8684'G:8'M6;N'?B46N4I:8=8O')F'd'N6I4G7I:;'W4=9BAh'/%1'd'A>;6H=8:H45;4I:A4@'?;6A4=8O
/&, *)-'+/&%+#@, -#+4$*/&0, /&, /&(-#%+#3, %62 ]&, 1/(#@, *5#, #&Y)1#, ?_D2!, 9%$+', (%$$#3 *5#, &4($#4+@, 1#$%&/&, /&, 1#$%&'+'1#+
E&/*),6'-,7'*5,*)-'+/&#,%&3,c2`aDZ; /JCA24 (G,;&)">, ('&8#-*+, `R]OZ, *', /&2 %(5/#8#+,%,5/05#-,$#8#$,'6,.-'*#(*/'&;
c2`aDZ, /+, 'W/3/Y#3, /&*', `aDZ2 3'$#2U@X2\4/&'&#, (%-7'W)$/(, %(/3;, R'A2 "#$%&/&,/&*#-1#3/%*#+,%+,A#$$,%+,1#$%2
\4/&'&#@!X=, `aDZ\4/&'&#, /+, 64-*5#- #8#-@, *5#, ?_D2!, -'$#, /&, 541%&, 1#$%&/& &/&, /*+#$6,(%&, %$+',7#, 5%-164$,*', *5#,(#$$
('&8#-*#3,*',`aDZ(5-'1#@,%&3,`aDZ2 7/'+)&*5#+/+,/+,&'*,A#$$,#+*%7$/+5#3; 7#(%4+#@, 3#.#&3/&0, '&, *5#/-, 1'$#(4$%-
(5-'1#, (%&, 7#, ('&8#-*#3, *', U@X23/5)2 ?5#,1%/&,64&(*/'&,'6,1#$%&/&,/+,*',.-'2 A#/05*, %&3, .'$)1#-/Y%*/'&, +*%*#@, *5#)
3-'W)/&3'$#, 9`R]>, '-, *', U@X23/5)3-'W)2 8/3#,.-'*#(*/'&,%0%/&+*,[d2/&34(#3,`fZ (%&, .-'1'*#, [dZ, 9CB=, *', G==, &1>2
/&3'$#2B2(%-7'W)$/(, %(/3, 9`R]OZ>;, ?5# 3%1%0#, 7), %7+'-7/&0, %&3, +(%**#-/&0, [d /&34(#3, `fZ, 3%1%0#@, 1'+*, $/F#$)
$%**#-, -#%(*/'&, /+, (%*%$)Y#3, 7), *5#, #&2 -%3/%*/'&, 9Bb=, *', G==, &1>;, Z(('-3/&0$)@ *5-'405,*5#,0#&#-%*/'&,'6,_aM;!XC,]*,5%+
Y)1#,`aDZ(5-'1#,*%4*'1#-%+,'-,?_D2 #&#-0),%7+'-.*/'&,7),1#$%&/&,/+,1%W/1%$ 7##&, +400#+*#3, *5%*, *5#, /&(-#%+#3, /&(/2
B;, ?5#, $#8#$, '6, 7-'A&, 8#-+4+, 7$%(F, #42 /&, *5/+, .'-*/'&, '6, *5#, #$#(*-'1%0&#*/( 3#&(#,'6,[d2/&34(#3,1#$%&'1%+,/&,$/05*2
1#$%&/&, %..#%-+, *', ('--#$%*#, A/*5, *5# +.#(*-41, %&3, 3#(-#%+#+, 0-%34%$$), %(-'++ +F/&@, -#325%/-#3, /&3/8/34%$+, /+, &'*
`R]T`R]OZ, -%*/'@, A/*5, %, 5/05#-, -%*/' *5#, 8/+/7$#, $/05*, +.#(*-41;, [d, %7+'-7#3 '&$),34#,*',3#(-#%+#3,%7/$/*),'6,.5#'1#$2
$#%3/&0,*',*5#,6'-1%*/'&,'6,7$%(F,#41#$%2 7), 1#$%&/&, /+, ('&8#-*#3, /&*', 5#%*@, %, $#++ %&/&,*',.-'*#(*,%0%/&+*,[d2/&34(#3,`fZ
&/&,%&3,%, $'A#-, -%*/', *',7-'A&,#41#$%2 *'W/(, 6'-1, '6, #&#-0), 9-#8/#A#3, /&, -#6; 3%1%0#@, 74*, 1%), %$+', 7#, 34#, *', 142
&/&;!X!, `aDZ\4/&'&#, (%&, %$+', ('17/&# !XB>;, M*/$$@, /&, 8/*-', +*43/#+, ('&34(*#3, 7) *%0#&/(,(%.%(/*),'6,.5#'1#$%&/&,%&3,.'+2
A/*5, 0$4*%*5/'&#, '-, ()+*#/&#, *', 6'-1 +#8#-%$, /&8#+*/0%*'-+, +400#+*, *5%*, 1#$%2 +/7$),'*5#-,1#$%&/&,/&*#-1#3/%*#+,%+,%,-#2
()+*#/&)$`aDZ@, A5/(5, *5#&, 7#('1#+ &/&p+,(%.%(/*),*',%(*,%+,%,+4&+(-##&,/+,$/12 +4$*,'6,*5#/-,.-'2'W/3%&*,(%.%(/*);!XG
*5#, )#$$'AT-#3@, +'$47$#@, $'A21'$#(4$%-2 /*#3@,%&3,*5%*,1#$%&/&@,A5#&,/&('-.'-%*#3
A#/05*,.5#'1#$%&/&;!X!,]&*#-#+*/&0$)@,*)2 /&*',%,(-#%1,%&3,+.-#%3,'8#-,*5#,+F/&@,%72
-'+/&%+#, %$+', (%*%$)Y#+, %, 1'-#, 3/+*%&* +'-7+,'&$),U=,.#-(#&*,*',<U,.#-(#&*,'6,/&2 )&*+,$-./&'!&,!%"/&#
+*#., /&, 1#$%&/&, 7/'+)&*5#+/+@, &%1#$) (/3#&*, +4&$/05*;, f%*4-%$$)@, /*, /+, .'++/7$# "#$%&'()*#, 3#&3-/*#+, %-#, 7-%&(5/&0, .-'2
F;3 `R], ('&8#-+/'&, *', /&3'$#2U@X2\4/&'&#; *5%*,/&,8/8'@,7),8/-*4#,'6,$'(%$/Y/&0,%7'8# *'.$%+1/(,.-'(#++#+,*5%*,/&*#-%(*,A/*5,F#2
-%*/&'()*#+;, Z(*/&, /+, %, 1%j'-, +*-4(*4-%$
('1.'&#&*,'6,1#$%&'()*#,3#&3-/*#+@,%&3
%(*/&,E$%1#&*,3/+-4.*/'&,$#%3+,*',3#&3-/*#
$'++;!XU, O'2(4$*4-#+, '6, F#-%*/&'()*#+, %&3
1#$%&'()*#+, 3#1'&+*-%*#, *5%*, F#-%*/&'2
()*#23#-/8#3, 6%(*'-+, .$%), %, -'$#, /&, 1#$2
%&'()*#,3#&3-/(/*),9-#8/#A#3,/&,-#6;,!XX>;
?5#+#, 6%(*'-+, /&($43#, J?!@, &#-8#, 0-'A*5
6%(*'-,9fS:>@, 2"MR@,ZO?R@,.-'+*%0$%&2
3/&+,JB, 9DSJB>,%&3, :B , 9DS:B >@!XX, %&3, 2
#&3'-.5/&;!X<,]&*#0-/&+@,-#(#.*'-+,*5%*,1#2
3/%*#, %(*/&2#W*-%(#$$4$%-, 1%*-/W, ('&*%(*@
%-#,$/F#$),*',.$%),%,-'$#,/&,3#&3-/*#,6'-1%2
*/'&,%+,A#$$;!Xb
Z&'*5#-, 0-'4., '6, .-'*#/&+@, *5#, _5'
6%1/$)@, %$+', .$%)+, %, -'$#, /&, 1#$%&'()*#
3#&3-/*#,6'-1%*/'&;,_5',.-'*#/&+,7#('1#
%(*/8#,A5#&,*5#),7/&3,04%&'+/&#,*-/.5'+2
.5%*#, %&3, /&%(*/8#, A5#&, 7/&3/&0, 04%2
&'+/&#,3/.5'+.5%*#;!Xe@!<=,]*,%..#%-+,*5%*
A5#&,_5', /+,%(*/8%*#3@, 3#&3-/*#+, -#*-%(*N
A5#-#%+,A5#&,/*+,6%1/$),1#17#-,_%(,/+
%(*/8%*#3@, 3#&3-/*#+,6'-1;!<=,]&3##3@,/*,/+
(4--#&*$), %++41#3, *5%*, 7), /&(-#%+/&0
(Z"D, $#8#$+@, 2"MR, /&5/7/*+, _5'@, #&2
5%&(/&0,1#$%&'()*#,3#&3-/(/*);,?54+@,*5#
#\4/$/7-/41, 7#*A##&, _5', %&3, _%(, %.2
.#%-+,*',7#,%&,/1.'-*%&*,6%(*'-,/&H4#&(2 456789*:;<#: #GB4N:A=G'@=:9;:N'6M'N4I:86H6N4'A;:8H?6;A':G;6HH'N4I:86G>A4'@48@;=A4HO')4I:865
/&0,1#$%&'()*#,3#&3-/(/*); H6N4H'N6L4'K=@=;4GA=68:II>':I689'N4I:86G>A4'@48@;=A4HO'/B4>':;4':AA:GB4@'A6'N=G;6A7K7I4H'AB;679B'AB4
N6A6;'?;6A4=8H'<=84H=8'\:8A4;69;:@4]':8@'@>84=8'\;4A;69;:@4]O'+A'AB4'A=?'6M'AB4'@48@;=A4R'N4I:86H6N4H':;4
G:?A7;4@'=8'AB4':GA=85;=GB'?4;=?B4;>O')>6H=85E:'\)>6E:]'N4@=:A4H'N4I:86H6N4'K=8@=89'A6':GA=8'AB;679B
)&*+,$#$)&'/%+,#1$%/
AB4'I=8<4;'?;6A4=8H'%:Kg2:':8@'N4I:86?B=I=8'\)I?B]O
F=AB=8')4I:86G>A4H
"#$%&'+'1#+, %-#, *-%&+6#--#3, 6-'1, *5#/- 9#&('3#3, 7), &)3"', $'(4+>@, *5%*, 1#3/%*#+ (-/*/(%$, +*#., /&, &'-1%$, ./01#&*%*/'&;
+/*#, '6, '-/0/&, /&, 1#$%&'()*#, .#-/F%-)'& 1)'+/&2d%, 7/&3/&0, *', 1#$%&'+'1#+ M*43/#+, +400#+*, +#8#-%$, A%)+, 6'-, 1#$2
*',*5#,*/.+,'6,1#$%&'()*#,3#&3-/*#+;,"#$2 *5-'405,%&'*5#-,$/&F#-,.-'*#/&21#$%&'.5/2 %&'+'1%$, *-%&+6#-@, /&($43/&0, #W'()*'2
%&'+'1#,*-%&+.'-*,*%F#+,.$%(#,'&,1/(-'2 $/&,9#&('3#3,7),%"&;"',$'(4+>,9+##,:/0;,<=2 +/+@, ()*'.5%0'()*'+/+@, 64+/'&, '6, .$%+1%
*474$#+, *5%*, %-#, %--%&0#3, .%-%$$#$, *', *5# !<>;!b=, ]&, *5#,%7+#&(#, '6, 1)'+/&2d%@, 1#$2 1#17-%&#+@,%&3,*-%&+6#-,7),1#17-%&#
$'&0,%W/+,'6,*5#,3#&3-/*#,%&3,/+,('&*-'$$#3 %&'+'1#+,3',&'*,('$$#(*,/&,3#&3-/*#,*/.+; 8#+/($#+,9-#8/#A#3,/&,-#6;,!bU>;
7),*A',($%++#+,'6,1/(-'*474$#2%++'(/%*#3 "4*%*/'&+, /&, %&), '6, *5#, %7'8#, 0#&# ?5#, #W'()*'+/+, .%*5A%), '6, 1#$%&'2
1'*'-,.-'*#/&+^,F/&#+/&+!<!V!<C,%&3,()*'2 .-'34(*+,-#+4$*+,/&,3#(-#%+#3,(4*%&#'4+ +'1%$, *-%&+6#-, /&8'$8#+, 64+/'&, '6, *5#
.$%+1/(, 3)&#/&+!<GV!<b, 9:/0;, <=2!<>;, K'*5 ./01#&*%*/'&;,S-/+(#$$/,+)&3-'1#@,%,-%-# 1#$%&'+'1%$, 1#17-%&#, A/*5, *5#, 1#$2
1'*'-, .-'*#/&+, %(*, %+, +5'-*, (-'++27-/30# %4*'+'1%$, -#(#++/8#, 3/+'-3#-, /&, A5/(5 %&'()*#, .$%+1%, 1#17-%&#@, 1#$%&'2
+*-4(*4-#+,('&&#(*/&0,*5#,'-0%&#$$#,*',*5# /&3/8/34%$+, 3/+.$%), 3/$4*#, +F/&, %&3, 5%/- +'1#,-#$#%+#,/&*',*5#,/&*#-(#$$4$%-,+.%(#@
1/(-'*474$#+; ('$'-@,/+,*5#,-#+4$*,'6,14*%*/'&+,'6,$*(B %&3,.5%0'()*'+/+,7),+4--'4&3/&0,F#-%*/2
O#&*-/640%$@, %&*#-'0-%3#, '-0%&#$$# ),'BK @ F&L=< '-4 $"%&'(73,%,'!b=, 9+## &'()*#+; A*#(73&-(.*#(),), /+, %, *#-1, /&3/2
1'8#1#&*,/+,1#3/%*#3,.-/1%-/$),7),F/2 O5%.;, <!>;, !*(),'BK , %&3, F&L=< , %-# (%*/&0,*5#,.5%0'()*'+/+,'6,%,$/8#,(#$$,'-,%
&#+/&@,A5#-#%+,(#&*-/.#*%$,1'8#1#&*,/+ ($'+#$),$'(%*#3,'&,(5-'1'+'1#,!U;!b!V!bG .'-*/'&, '6, /*;, I/*5, -#0%-3, *', F#-%*/&'2
('&*-'$$#3,7),()*'.$%+1/(,3)&#/&;,M*432 K#(%4+#, 1)'+/&2d%,/+,%$+',#W.-#++#3, /& ()*#+@,*5#),()*'.5%0'()*'+#,*5#,*/.,'6,%
/#+, #W%1/&/&0, 1#$%&'+'1%$, *-%&+.'-* *5#, 7-%/&@, 14*%*/'&+, '6, *5/+, 0#&#, 1%) 1#$%&'()*#, 3#&3-/*#@, A5/(5, *5#&, 64+#+
+400#+*, *5%*, *5#/-, 1/(-'*474$#23#.#&2 %$+', (%4+#, -'$'0/(, %7&'-1%$/*/#+; A/*5,$)+'+'1#+,/&+/3#,*5#,F#-%*/&'()*#@
3#&*, 1'8#1#&*,/+,7/3/-#(*/'&%$@!<e,('&2 _%7B<%,%$+',.$%)+,%,-'$#,/&,/114&'-#042 A5/(5, /+, *-%&+.'-*#3, *', %, +4.-%&4($#%-
+/+*#&*, A/*5, %, (''.#-%*/8#, 6'-A%-3, %&3 $%*/'&@, %&3, /&3/8/34%$+, A/*5, 14*%*/'&+ $'(%*/'&, A5#-#, *5#, .5%0'$)+'+'1#
7%(FA%-3, .4$$, '6, F/&#+/&!<!, %&3, 3)2 '6, *5/+, 0#&#, 3/+.$%), %7&'-1%$/*/#+, '6 1#17-%&#+,7-#%F,4.@,-#$#%+/&0,*5#,1#$2
&#/&@!<G, -#+.#(*/8#$);, :'-, 1#$%&'+'1#+ *5#, /114&#, +)+*#1;, "4*%*/'&+,'6,$"%B %&'+'1#+;, :4+/'&, '6, F#-%*/&'()*#, %&3
A/*5, &#*, (#&*-/640%$, 1'8#1#&*@, *5#, 7/2 &'(73,%,', -#+4$*, '&$), /&, *5#, 3/+*/&(*/8# 1#$%&'()*#, .$%+1%, 1#17-%&#+, (-#%*#+
3/-#(*/'&%$,1'8#1#&*,%..#%-+,*',*#-1/2 5).'./01#&*%*/'&, *5%*, (5%-%(*#-/Y#+ %, +.%(#, *5-'405, A5/(5, 1#$%&'+'1#+
&%*#,A/*5,1)'+/&2d%,9#&('3#3,7),3/$4*# *5#,+)&3-'1#;!bG %-#, *-%&+6#--#3, 6-'1, *5#, 1#$%&'()*#, *'
$'(4+>V3#.#&3#&*, 1#$%&'+'1%$, (%.*4-# *5#, F#-%*/&'()*#;, ]&3##3@, 5/052-#+'$42
/&, *5#, %(*/&2-/(5, .#-/.5#-), '6, *5#, 3#&2 */'&,.5'*'0-%.5),+5'A+,*5#,.-#+#&(#,'6
/6'_4;:A=86G>A4H
3-/*#,9+##,:/0;,<=2!<>;!<e E$'.'3/%@, +$#&3#-@, E$/6'-1@, .'/&*#3@, ()2
Z33/*/'&%$, .-'*#/&+, *5%*, .%-*/(/.%*#, /& ?-%&+6#-,'6,1#$%&'+'1#+,6-'1,1#$%&'2 *'.$%+1/(, .-'j#(*/'&+, %*, *5#, */., '6, 1#$2
1#$%&'+'1#, *-%&+.'-*, /&($43#, _%7B<% ()*#+, *', &#/057'-/&0, F#-%*/&'()*#+, /+, % %&'()*#, 3#&3-/*#+;!bX, ?5#+#, E$'.'3/%
F;?
%35#-#, %&3, 64+#, A/*5, F#-%*/&'()*# #+*#-+@,%&3,/&*#-$#4F/&+,9]c+>;!eB@!eC,]&,-'2 %66#(*, 1#$%&'()*#, 64&(*/'&;, ?5#/-, $#8#$
.$%+1%, 1#17-%&#, 7#6'-#, 1#$%&'+'1# 3#&*+@ 2"MR,+*/14$%*#+, 1#$%&'0#&#+/+ /+,#$#8%*#3,/&,+4&74-,+F/&B=e,%&3,/&,%
*-%&+6#-;, ?5#, 6'4-*5, A%), '6, 1#$%&'+'2 %&3,6%8'-+,#41#$%&/&,'8#-,.5#'1#$%&/& 8%-/#*),'6,/&H%11%*'-),3#-1%*'+#+@,/&2
1%$, *-%&+6#-, /&8'$8#+, +5#33/&0, '6, 1#$2 .-'34(*/'&@,74*,+)+*#1/(,%31/&/+*-%*/'& ($43/&0, %*'./(, 3#-1%*/*/+B!=, 9+##, O5%.;
%&'+'1#2E$$#3,8#+/($#+,6'$$'A#3,7),.52 '6 2"MR@ 2"MR@, %&3, ZO?R, *', .#'2 !G>,%&3,.+'-/%+/+B!!,9+##,O5%.;,!b>;
%0'()*'+/+, '6, *5#+#, 8#+/($#+, 7) .$#, /&(-#%+#+, +F/&, ./01#&*%*/'&, .-#2 R41%&, 1#$%&'()*#+, #W.-#++, +#8#-%$
F#-%*/&'()*#+,'-,*5#/-,64+/'&,A/*5,F#-%*2 3'1/&%&*$), /&, +4&2#W.'+#3, %-#%+;!eG@!eU DS, -#(#.*'-+@, /&($43/&0, *5#, -#(#.*'-+
/&'()*#,.$%+1%,1#17-%&#; R'A#8#-@, /&, (#-*%/&, 3/+#%+#, ('&3/*/'&+ 6'-,DSJB,%&3,DS:B ;B!B@B!C,]&3##3@,DS:B
?5#, 1'$#(4$%-, %&3, (#$$4$%-, 1#(5%2 (5%-%(*#-/Y#3,7),%7&'-1%$$),5/05,$#8#$+ +*/14$%*#+, 1#$%&'()*#, 3#&3-/*#, 6'-1%2
&/+1+, /&8'$8#3, /&, 1#$%&'+'1#, .5%0'2 '6,ZO?R@,+4(5,%+,Z33/+'&,3/+#%+#!eX,'- */'&, %&3, %(*/8%*#+, *)-'+/&%+#@B!B@B!C, %&3
()*'+/+,5%8#,7##&,.%-*/%$$),#$4(/3%*#3;,]* f#$+'&, +)&3-'1#!e<, 9ZO?R2+#(-#*/&0 [d, /--%3/%*/'&, 4.-#04$%*#+, *5#, $#8#$, '6
%..#%-+, *5%*, F#-%*/&'()*#+, #W.-#++, % ./*4/*%-) %3#&'1%>@, 1'-#, 0#&#-%$/Y#3 DS,-#(#.*'-+,'&,1#$%&'()*#+;B!B@B!C,M/12
+#8#&,*-%&+1#17-%&#,S2.-'*#/&V('4.$#3 5).#-./01#&*%*/'&, '6, *5#, +F/&, 5%+ /$%-$)@, $#4F'*-/#&#+, KG, %&3, OG, /&(-#%+#
-#(#.*'-,(%$$#3,7+(#"&)"B&.#,:&#";4+"."7#(+B 7##&,'7+#-8#3;!eb 1#$%&/&, +)&*5#+/+, %&3, +*/14$%*#, 1#$2
=, 9DZ_2B>;, DZ_2B, /+, %(*/8%*#3, A5#& Z+/3#, 6-'1, /*+, #66#(*, '&, 1#$%&'0#&/( %&'()*#, .-'$/6#-%*/'&, %&3, 1'*/$/*);B!G
+#-/&#, .-'*#%+#+, ($#%8#, *5#, #W*-%(#$$42 .-'*#/&+, %&3, #41#$%&/&, +)&*5#+/+@, 2 ]&*#-#+*/&0$)@, 1#$%&'()*#+, %$+', ('&2
$%-, .'-*/'&, '6, *5#, -#(#.*'-@, #W.'+/&0, % "MR, A%+, %$+', -#.'-*#3, *', #&5%&(#, *5# *-/74*#, *', (4*%&#'4+, /&H%11%*'-), -#2
&#A, +#01#&*, *5%*, %(*+, %+, %, *#*5#-#3 -#.%/-, '6, [d2/&34(#3, `fZ, 3%1%0#, /& +.'&+#+@,%+,*5#),+)&*5#+/Y#,%&3,-#$#%+#
9%**%(5#3>, $/0%&3;!b<@!bb, Z(*/8%*/'&, '6 1#$%&'()*#+@, +.#(/E(%$$), *5#, -#.%/-, '6 ]c2b,A5#&,+*/14$%*#3,7),*5#,.-'2/&H%12
DZ_2B, /&(-#%+#+, F#-%*/&'()*#, .5%0'2 .)-/1/3/&#, 3/1#-+@, %&3, %$+', *', -#34(# 1%*'-),()*'F/&#+,]c2!,%&3,*41'-,&#(-'2
()*/(,%(*/8/*);!b<@!bb *5#,$#8#$,'6,[d2/&34(#3,5)3-'0#&,.#-'W2 +/+,6%(*'-2 ;B!U
]&*#-#+*/&0$)@, %&3, ('&+/+*#&*, A/*5, /*+ /3#, /&, *5#, (#$$;!ee, ?5#+#, 3%*%, +400#+*, % "#$%&'()*#+, %$+', -#+.'&3, *', 5/+*%2
-'$#, /&, 1#$%&'+'1#, .5%0'()*'+/+@, [d -'$#,6'-,Da"O23#-/8#3,.#.*/3#+,7#)'&3 1/&#, -#$#%+#3, 7), 1%+*, (#$$+, 34-/&0, (42
/&34(#+, *5#, %(*/8/*), %&3, #W.-#++/'&, '6 1#-#$),+*/14$%*/&0,1#$%&'0#&#+/+; *%&#'4+,/&H%11%*/'&;,R/+*%1/&#,7/&3+
DZ_2B;!be, [d, #66#(*, '&, DZ_2B, %(*/8/*) R!, %&3, RB, -#(#.*'-+, *', /&34(#, 1#$2
%&3, #W.-#++/'&, /+, 1'-#, .-'&'4&(#3, /& 9GBUOX9S5G<# J?!,%..#%-+,*',.$%),%,-'$# %&'()*#, 3#&3-/(/*), %&3, 4.-#04$%*#, *)2
/&3/8/34%$+,A/*5,+F/&,.5'*'*).#+,]],%&3 /&, 1%*4-#, 1#$%&'()*#+@, /&34(/&0, 1#$%2 -'+/&%+#, $#8#$;B!X@B!<, ?5#+#, #66#(*+, %-#
]]], *5%&, /&, *5'+#, A/*5, +F/&, .5'*'*).# &'0#&#+/+, 7), %(*/8%*/&0, *)-'+/&%+#, %&3 3#(-#%+#3, A5#&, 1#$%&'()*#+, %-#, .-#2
];!be, P#-%*/&'()*#, 0-'A*5, 6%(*'-, -#(#.2 /&(-#%+/&0, ?_D2!, $#8#$+;B==@B=!, J?!, %$+' *-#%*#3,A/*5,*5#,RB,-#(#.*'-,%&*%0'&/+*
*'-,5%+,%$+',7##&,/1.$/(%*#3,/&,#&5%&(2 $#%3+, *', 1#$%&'()*#, .-'$/6#-%*/'&B==@B=! 6%1'*/3/&#;B!<
/&0, .5%0'()*'+/+, '6, 1#$%&'+'1#+, 7) %&3, .-'1'*#+, 3#&3-/*#, 6'-1%*/'&;B=B
F#-%*/&'()*#+;!e= O4$*4-#3, F#-%*/&'()*#+, +)&*5#+/Y#, %&3 G978UO8UTX5GJ f#4-'*-'.5/&+,9f?+>,%-#
+#(-#*#, J?!@B=!VB=C, %&3, [d, /--%3/%*/'& %,6%1/$),'6,1'$#(4$#+,*5%*,#&5%&(#,*
+*/14$%*#+, J?!, .-'34(*/'&, 7), F#-%*/&'2 -'&%$,+4-8/8%$,/&,*5#,(#&*-%$,%&3,.#-/.52
%&J^*+/"$,'$(' ()*#+;B=!@B=B, J?!, (%&, %$+', (''.#-%*#, +)&2 #-%$, &#-8'4+, +)+*#1+;, ?5#), /&($43#
)&*+,$-./&'(^,-/"$, #-0/+*/(%$$),A/*5,'*5#-,0-'A*5,6%(*'-+T()2 fS:@B!b, f?C@B!eVBB!, f?G@BBB, %&3, 7-%/&2
"#$%&'()*#, 7#5%8/'-, /&, +F/&, /+, $%-0#$) *'F/&#+, *', 64-*5#-, /&H4#&(#, 1#$%&'()*# 3#-/8#3, -'*-'.5/(, 6%(*'-;BBC@BBG, "#$2
/&H4#&(#3, 7), +/0&%$+, 6-'1, &#/057'-/&0 64&(*/'&; %&'()*#+,#W.-#++,*5#,$'A,%6E&/*),-#(#.2
F#-%*/&'()*#+, %+, A#$$, %+, %4*'(-/&#, +/02 J?!, 4.-#04$%*#+, *5#, "O!_, $#8#$, %&3 *'-, ('11'&, *', %$$, f?+@, .<Uf?_@BBU, %+
&%$+, %&3, #&8/-'&1#&*%$, 6%(*'-+, +4(5, %+ /&(-#%+#+,"O!_,%6E&/*),6'-, 2"MR;B=G@B=U A#$$, %+, *5#, 5/05, %6E&/*), -#(#.*'-+, 6'-
[d,/--%3/%*/'&,9%$+',+##,[$*-%8/'$#*,]--%2 M/1/$%-, *', 2"MR@, J?!, 3/+.$%)+, .5'*'2 fS:,9?-FZ>, %&3, f?C,9?-FO>,9-#8/#A#3
3/%*/'&, %&3, "#$%&'()*#+>;, ?5#, +)&*5#2 .-'*#(*/8#, #66#(*+, '&, 1#$%&'()*#+@, #&2 /&, -#6;, BBX>;, P#-%*/&'()*#23#-/8#3, fS:@
+/+, %&3, +#(-#*/'&, '6, 1'+*, F#-%*/&'()*#2 5%&(/&0, *5)1/&#, 3/1#-, -#.%/-@, 3#(-#%+2 A5'+#,#W.-#++/'&,/+,4.-#04$%*#3,7),[d
3#-/8#3, 6%(*'-+, /+, /&(-#%+#3, 7), [d /&0, *5#, $#8#$, '6, [d2/&34(#3, 5)3-'0#& /--%3/%*/'&@, /+, (5#1'*%(*/(, 6'-, 1#$%&'2
/--%3/%*/'&@,74*,/*,/+,%$+',#8/3#&*,*5%*,[d .#-'W/3#@,%&3,/&34(/&0,*5#,$#8#$,'6,%&*/2 ()*#+, %&3, /&34(#+, *5#/-, 3#&3-/(/*);BB<
(%&, 3/-#(*$), +*/14$%*#, 1#$%&'()*#, 3#&2 %.'.*'*/(,.-'*#/&+;!ee@B=X K'*5,fS:,%&3,f?C@,*5#,$%**#-,#W.-#++#3
3-/(/*), %&3, 1#$%&/&, .-'34(*/'&;!Xe@!e! 7), 3#-1%$, E7-'7$%+*+@, /&(-#%+#, 1#$%&'2
"#$%&'()*#+, -#(#/8#, 7'*5, .'+/*/8#, %&3 JO99S*4=AOU8 c/F#, '*5#-, F#-%*/&'()*#2 ()*#, +4-8/8%$;, M.#(/E(%$$)@, %6*#-, [d
�%*/8#,.%-%(-/&#,+/0&%$+,*5%*,1'34$%*# 3#-/8#3,6%(*'-+@,M:,/+,/&34(#3,7),[d,/-2 /--%3/%*/'&@, fS:, +4..$#1#&*%*/'&, /&2
*5#/-, .-'$/6#-%*/'&, %&3, 3/66#-#&*/%*#3 -%3/%*/'&@, %&3@, /&, 04/&#%, ./0+@, %&*/2P/* (-#%+#+, *5#, $#8#$, '6, *5#, %&*/2%.'.*'*/(
64&(*/'&; %&*/7'3/#+, 7$'(F, [d2/&34(#3, *%&&/&0; K($B, .-'*#/&@, -#34(/&0, 1#$%&'()*#, %.2
MO:, (%&, %$+', %(*, +)&#-0/+*/(%$$), A/*5 '.*'*/(, (#$$, 3#%*5;BBb@BBe, ?54+@, /&, %33/2
'*5#-, ()*'F/&#+, +4(5, %+,]c2C@, ]c2X@, ]c2<@ */'&,*','*5#-,F#-%*/&'()*#23#-/8#3,()*'2
)4I:86948=G'#A=N7I:A6;H
]c2e@, %&3, 0-%&4$'()*#21%(-'.5%0#, ('$2 F/&#+@, fS:, 1%), 5#$., .-#+#-8#, *5#
T8UUT5U,9S=GUAU8O5G*=GB*B985N9B*T9T< '&)2+*/14$%*/&0, 6%(*'-, *', -#04$%*#, [d2 .'.4$%*/'&, '6, (4*%&#'4+, 1#$%&'()*#+
O5B9J ]*, /+, A#$$, 3'(41#&*#3, *5%*, "MR /&34(#3,1#$%&'0#&#+/+,%&3,1#$%&'()*# *5%*, A'4$3, '*5#-A/+#, 7#, 3#.$#*#3, 7)
%&3, ZO?R, %-#, .'*#&*, +*/14$%*'-+, '6 +4-8/8%$;B=<@B=b [d,3%1%0#;
1#$%&'0#&#+/+;,?5#),7#$'&0,*',%,6%1/$)
'6, .#.*/3#+, 3#-/8#3, 6-'1, *5#, .-#(4-+'- 5G4S=,,=OU8I*,9B5=OU8J M#8#-%$, /&2 $=J5A*45$8U$S=JO*68U[OX*4=AOU8 K%+/(
.-''./'1#$%&'('-*/&, 9Da"O>, *5%*, /+ H%11%*'-), 1#3/%*'-+, (%&, %66#(*, +F/& E7-'7$%+*,0-'A*5,6%(*'-,97:S:>@,&%1#3
+)&*5#+/Y#3@,/&,%33/*/'&,*',*5#,./*4/*%-) ./01#&*%*/'&;, DS+, 9%-%(5/3'&/(, %(/3V 6'-,/*+,%7/$/*),*',+*/14$%*#,*5#,0-'A*5,'6
0$%&3@, %$+', 7), #./3#-1%$, F#-%*/&'()*#+; 3#-/8#3, 1#*%7'$/*#+>, %&3, $#4F'*-/#&#+ E7-'7$%+*+@,A%+,'&#,'6,*5#,E-+*,/3#&*/2
]&*#-#+*/&0$)@, Da"O, #W.-#++/'&, /&, F#2 9$/./3, ('1.'4&3+, -#$%*#3, *', DS+>@, 7'*5 E#3,1#$%&'()*#,1/*'0#&+; BC=@BC! ,]*,/+
-%*/&'()*#+, /+,/&34(#3,7),[d@, .5'-7'$ 1#3/%*'-+, '6, /&H%11%*'-), -#+.'&+#+@ .-'34(#3,7),F#-%*/&'()*#+@,74*,$%(F+,%
F;@
+#(-#*'-),+/0&%$,%&3,5#&(#,/+,.-#+41#3,*' .5'+.5'-)$%*/'&;, ?A', *).#+, '6, F/&%+#+ &#&*,($#%8#3,6-'1,*5#,.$%+1%,1#17-%&#
%66#(*,1#$%&'()*#+,*5-'405,(#$$2(#$$,('&2 .%-*/(/.%*#, /&, (#$$4$%-, +/0&%$/&0^, +#-/&#T A5#&,(#$$,+4-6%(#,-#(#.*'-+,/&*#-%(*,A/*5
*%(*;,]*,7/&3+,*)-'+/&#,F/&%+#,*-%&+1#12 *5-#'&/&#, %&3, *)-'+/&#, F/&%+#+, *5%*, 7) *5#/-, $/0%&3+;, `ZS, (%&, %$+', 7#, -#$#%+#3
7-%&#,-#(#.*'-+,*',/&34(#,/*+,1/*'0#&/( 3#E&/*/'&, .5'+.5'-)$%*#, +#-/&#, %&3T'- 6-'1, *5#, 1#17-%&#, 7), [d, /--%3/%*/'&
#66#(*,/&,*5#,.-#+#&(#,'6,(Z"D2#$#8%*/&0 *5-#'&/&#, -#+/34#+, %&3, *)-'+/&#, -#+/2 9+## :/0;,<=2!b>;,`ZS,/&34(#+,DPO,*-%&+2
6%(*'-+;,c/F#,'*5#-,F#-%*/&'()*#23#-/8#3 34#+@, -#+.#(*/8#$)@, '&, *5#/-, +.#(/E(, *%-2 $'(%*/'&, *', 1#17-%&#+, A5#-#, *5#, $%**#-
()*'F/&#+@,/*,/+,4.-#04$%*#3,/&,-#+.'&+# 0#*, .-'*#/&+;, ?5/+, +#(*/'&, -#8/#A+, *5# /+, %(*/8%*#3BUX, *', /&34(#, .5'+.5'-)$%2
*',[d,/--%3/%*/'&; BC!@BCB ,P#-%*/&'()*# 1%j'-, +/0&%$/&0, .%*5A%)+, *5%*, %66#(* */'&,'6,+#-/&#T*5#'&/&#,-#+/34#+,'&,*%-0#*
0-'A*5,6%(*'-@,%&'*5#-,1#17#-,'6,*5# 1#$%&'()*#,7#5%8/'-,/&,+F/&; .-'*#/&+, $/F#, *)-'+/&%+#;, D5'-7'$, #+*#-+
:S:,6%1/$),'6,.-'*#/&+@,5%+,7##&,+5'A& 1/1/(,`ZS, %(*/'&, %&3, /&/*/%$$),%(*/8%*#
*',.-'1'*#,1#$%&'+'1#,*-%&+6#-,6-'1 DPO;BUX, R'A#8#-@, A/*5/&, BG, 5'4-+, *5#
->GI=G'+@486H=84')686?B6H?B:A4P
1#$%&'()*#+,*',F#-%*/&'()*#+;!e= #&*/-#, (#$$4$%-, -#+#-8#+, '6, DPO, %-#, 3#2
1_+p!4?48@48A'1:ABW:> .$#*#3@, %&3, A5#&, 1#$%&'()*#+, %-#
G5O85A*U\5B9 f/*-/(, 'W/3#, 9fa>, /+, %, 3/62 (Z"D@,'&#,'6,*5#,E-+*,/3#&*/E#3,/&*-%(#$2 *-#%*#3, A/*5, .5'-7'$, #+*#-+, *5#), (%&, &'
64+/7$#, 6-##, -%3/(%$, 3/+.$%)/&0, .$#/'*-'./( $4$%-,+#('&3,1#++#&0#-+@,.$%)+,%,F#),-'$# $'&0#-,+/0&%$,*5-'405,DPO;
7/'-#04$%*'-), #66#(*+, /&, 3/8#-+#, (#$$+, %&3 /&,3/8#-+#,7/'$'0/(,64&(*/'&+,+4(5,%+,(#$2 ?5#, (-/*/(%$, -'$#, '6, DPO, /&, 1#$%&'2
*/++4#+;BCC@BCG, "#$%&'()*#+, %&3, F#-%*/&'2 $4$%-,1#*%7'$/+1@,0-'A*5@,%&3,3/66#-#&*/2 0#&#+/+,A%+,E-+*,+400#+*#3,7),*5#,'7+#-2
()*#+,.-'34(#,fa,/&,-#+.'&+#,*',/&H%12 %*/'&;BGb@BGe, ]*, %$+', 1#3/%*#+, 2"MR, #62 8%*/'&,*5%*,%33/*/'&,'6,`ZS@,*5#,#&3'02
1%*'-),()*'F/&#+@BCUVBCb,%&3,fa,.-'34(2 6#(*,9-#8/#A#3,/&,-#6;,BU=>,%&3,A%+,'&#,'6 #&'4+, %(*/8%*'-, '6, DPO@, *', (4$*4-#3
*/'&, /&, F#-%*/&'()*#+, /+, /&34(#3, 7), [d *5#, E-+*, -#('0&/Y#3, -#04$%*'-+, '6, 1%12 541%&, 1#$%&'()*#+, -%./3$), /&(-#%+#3
/--%3/%*/'&;BCe,fa,/&(-#%+#+,*)-'+/&%+#,%(2 1%$/%&, ./01#&*%*/'&;BU!, ?5#, /&*-%(#$$42 *'*%$, 1#$%&/&, ('&*#&*@BU<, %&3, *5/+, /&2
*/8/*),%&3,1#$%&'0#&#+/+BCe,%&3,/+,*54+,%& $%-, $#8#$, '6, (Z"D, /+, 4.-#04$%*#3, 7), % (-#%+#, A%+, 7$'(F#3, 7), %, DPO, /&5/7/2
%4*'(-/&#, %+, A#$$, %+, .%-%(-/&#, 1'$#(4$# 1#17-%%++'(/%*#3, #&Y)1#, (%$$#3 *'-;BU<, "'-#'8#-@, *'./(%$, %..$/(%*/'&, '6
*5%*,%66#(*+,1#$%&'()*#,7#5%8/'-,/&,+F/&; &;"'*%&#"4 .*.%&)", *5%*, /+, %(*/8%*#3, '&, -#2 `ZS, *', 04/&#%, ./0, +F/&, /&(-#%+#3, #./2
(#.*'-T$/0%&3, /&*#-%(*/'&, /&, -#(#.*'-+ 3#-1%$,1#$%&/&,('&*#&*;BUb
*5%*, %-#, ('4.$#3, *', 04%&'+/&#, *-/.5'+2 ?5#, #W.-#++/'&, '6, *5#, !B, DPO, /+'2
)4I:86948=G'"8B=K=A6;H 6'-1+, 8%-/#+, %1'&0, 3/66#-#&*, */++4#+;bX
.5%*#V7/&3/&0, .-'*#/&+, $/F#, "O!_BUB
f41#-'4+, -#.'-*+, 5%8#, +400#+*#3, *5# 9+## :/0;,<=2!CN :/0;,<=2!b>;,(Z"D,/+,%$+' J%(5, /+'6'-1, /+, *5'405*, *', (%--), '4*, %
#W/+*#&(#,'6,#&3'0#&'4+,1#$%&'0#&/(,/&2 #$#8%*#3, 7), -#%0#&*+, +4(5, %+, (5'$#-%0#& 3/+*/&(*,7/'$'0/(,64&(*/'&;,R41%&,1#$2
5/7/*'-+@BG=@BG!,74*,'&$),6#A,+.#(/E(,1'$2 '-, /+'74*)$1#*5)$, W%&*5/&#;, D-'8/3/&0 %&'()*#+,#W.-#++,DPO2 @,2 @,2 @,2 @,%&3
#(4$#+, 5%8#, 7##&, /3#&*/E#3;, a&#, 0-'4. 1#$%&'()*#+, A/*5, 3/74*)-)$, (Z"D@, % 2 @BUe@BX=,%&3,*5#,DPO2 ,/+'6'-1,/+,+.#(/62
'6, /&5/7/*'-+, /&($43#, +.5/&0'$/./3+@, % (Z"D, %&%$'0@, /&(-#%+#+, *5#, /&*-%(#$$4$%- /(%$$), /&8'$8#3, /&, -#04$%*/&0, *)-'+/&%+#
($%++, '6, 1#17-%%++'(/%*#3, $/./3+, 9-#2 $#8#$,'6,(Z"D,%&3,/&34(#+,+/0&%$/&0,*5%* %(*/8/*), 9+##, D-'*#/&, P/&%+#, O2 >;, J?!
8/#A#3, /&, -#6;, BGB>, *5%*, %(*, %+, +/0&%$ $#%3+,*',1#$%&'0#&#+/+;BUC %&3, 5/+*%1/&#, %$+', 4*/$/Y#, *5#, DPO2
*-%&+34(#-+;, M.5/&0'$/./3+, A#-#, +5'A& (Z"D23#.#&3#&*,.-'*#/&,F/&%+#,9DPZ> 3#.#&3#&*,.%*5A%),9/&,%33/*/'&,*',*5#
*', 3#(-#%+#, 1#$%&'0#&#+/+@, %*, $#%+*, /& 1#3/%*#+,1'+*,'6,*5#,7/'$'0/(,%(*/'&+,'6 (Z"D23#.#&3#&*, .%*5A%)>, *', #W#-*
.%-*, 7), #&5%&(/&0, "/*6, 3#0-%3%*/'&, 8/% (Z"D;BUB, DPZ, /+, %, +#-/&#T*5-#'&/&#, F/2 *5#/-, -#04$%*'-), #66#(*+, '&, 1#$%&'()*#
47/\4/*/&21#3/*%*#3,.%*5A%)+;BGC@BGG,Z&2 &%+#, ('&+/+*/&0, '6, *A', -#04$%*'-), +472 64&(*/'&;BX!@BXB
'*5#-, 1#$%&'0#&/(, /&5/7/*'-@, K"D2G@ 4&/*+,%&3,*A',(%*%$)*/(,+474&/*+;BUB,]*,#W2
3'A&-#04$%*#+, *)-'+/&%+#, #W.-#++/'&, /& /+*+, /&, *5#, ()*'+'$, /&, %&, /&%(*/8#, 6'-1@ %4G4?A6;'/>;6H=84'_=8:H4H
1#$%&'()*#+@BGU,%$+',/&,.%-*,8/%,/*+,#66#(*+ %&3, 7/&3/&0, '6, (Z"D, *', /*+, -#04$%*'-)
'&, "/*6;BGX, ]&*#-#+*/&0$)@, .5)+/'$'0/( +474&/*+, -#$#%+#+, *5#, (%*%$)*/(, +474&/*+@ "#$%&'()*#+,#W.-#++,+#8#-%$,3/+*/&(*,*)2
3'+#+,'6,[d,/--%3/%*/'&@,%,.'*#&*,1#$%&'2 %(*/8%*/&0,*5#,#&Y)1#;BUB,DPZ,.5'+.5'2 -'+/&#, F/&%+#, -#(#.*'-+, *5%*, 7/&3, K"D@
0#&/(,+*/14$%*'-@,3#(-#%+#,*5#,#W.-#++/'& -)$%*#+,*5#,O_JK,*5%*,7/&3+,/*+,`fZ,('&2 7:S:@, RS:@, %&3, (2P/*, $/0%&3;, _#(#.*'-T
'6,K"D,-#(#.*'-+,'&,1#$%&'()*#+@BGU,.-#2 +#&+4+, +#\4#&(#, O_J, /&, *5#, "/*6, .-'2 $/0%&3, /&*#-%(*/'&, %(*/8%*#+, %&, /&*-%(#$2
+41%7$),#$/1/&%*/&0,/*+,/&5/7/*/'&,34-/&0 1'*#-, *', /&34(#, "/*6, *-%&+(-/.*/'&, 9+## $4$%-,*)-'+/&#,F/&%+#,3'1%/&,'&,*5#,-#2
[d2/&34(#3,*%&&/&0;,"/(#,*5%*,*-%&+0#&2 :/0;, <=2!C>;, (Z"D, #$#8%*/'&, %$+', %66#(*+ (#.*'-@, .5'+.5'-)$%*/&0, *5#, -#(#.*'-
/(%$$), '8#-#W.-#++, *5#, .5)+/'$'0/(, K"D '*5#-,*%-0#*,0#&#+@,/&(-#%+/&0,'-,3#(-#%+2 %&3, +47+#\4#&*$), %(*/8%*/&0, %, +#-/#+, '6
%&*%0'&/+*, &'00/&, 5%8#, %, 3%-F#-, ('%* /&0,*5#/-,*-%&+(-/.*/'&BUG,9+##,:/0;,<=2!b>; F/&%+#+,(%$$#3,!214M,'&)")@,'-,'*5#-,/&2
('$'-, *5%&, A/$32*).#, 1/(#@, %&3, *5#/- ]&,8/*-'@,DPZ,#66#(*,(%&,7#,%&*%0'&/Y#3 *-%(#$$4$%-, +/0&%$/&0, 1'$#(4$#+, 9+##, :/0;
5%/-+,5%8#,%,5/05#-,#41#$%&/&2.5#'1#$2 7),*5#,.-'*#/&,F/&%+#,/&5/7/*'-,*5%*,%(*+ <=2!b>;, ?5-'405, %, (5%/&, -#%(*/'&, /&2
%&/&,-%*/';BG< %+, %, .+#43', +47+*-%*#, 6'-, *5#, (%*%$)*/( 8'$8/&0, .5'+.5'-)$%*/'&, '6, .-'*#/&+
+474&/*, '6, DPZ, %&3, *54+, .-#8#&*+, /* $/F#, "/*6@, *5#, +/0&%$+, %-#, *-%&+6#--#3, *'
6-'1 .5'+.5'-)$%*/&0, /*+, #&3'0#&'4+ *5#, &4($#4+, *', %(*/8%*#, '-, +4..-#++, *5#
#"J,+*",J'1+/0F+.#'%&J^*+/",J' +47+*-%*#+;BUU *-%&+(-/.*/'&,'6,0#&#+,*5%*,.%-*/(/.%*#,/&
)&*+,$-./&'(^,-/"$, 1#$%&'()*#, .-'$/6#-%*/'&@, 1#$%&'0#
S-'A*5, 6%(*'-+@, ()*'F/&#+@, 5'-1'&#+@ +/+@,%&3T'-,+4-8/8%$;
1;6A4=8'_=8:H4'-p!4?48@48A'1:ABW:>
%&3, '*5#-, $/0%&3+, 6'-, -#(#.*'-+, #W2
.-#++#3,'&,1#$%&'()*#+,#W#-*,*5#/-,7/'2 DPO, /+, %, +#-/&#T*5-#'&/&#, F/&%+#, /&2 ->GI=G'J7:86H=84'
$'0/(, #66#(*, 7), /&*#-%(*/&0, A/*5, *5#/- 8'$8#3, /&, 3/8#-+#, (#$$4$%-, 64&(*/'&+@, /&2 )686?B6H?B:A4'1:ABW:>
+.#(/E(,(#$$,+4-6%(#,-#(#.*'-+@,0#&#-%*/&0 ($43/&0,0-'A*5@,*-%&+6'-1%*/'&@,%&3,3/62
%, +/0&%$/&0, (%+(%3#, /&8'$8/&0, %(*/8%*/'& 6#-#&*/'&;BUX, DPO, -#+/3#+, %+, %&, /&%(*/8# fa,%&3,5/+*%1/&#,%(*/8%*#,*5#,#&Y)1#
'-, /&5/7/*/'&, '6, .-'*#/&, F/&%+#+@, %&3 #&Y)1#, /&, *5#, ()*'.$%+1@, %&3, /*, /+, %(*/2 04%&)$%*#,()($%+#,*5%*,/&(-#%+#+,*5#,/&*-%2
$#%3/&0, *', 3/+*/&(*, .%**#-&+, '6, .-'*#/& 8%*#3,7),3/%()$0$)(#-'$,9`ZS>@,%,('1.'2 (#$$4$%-,$#8#$,'6,()($/(,04%&'+/&#,1'&'2
F;!
!4;<.2=!<
+C=,
+C=,
456789*:;<#K #=98:I=89'?:ABW:>H';497I:A=89'N4I:869484H=HO')4I:869484H=H'=H'HA=N7I:A4@'AB;679B'G>GI=G':@486H=84'N686?B6H?B:A4'\G+)1]'6;'?;6A4=8'<=5
8:H4'-'\1_-]p@4?48@48A'?:ABW:>HO' 5)4I:86G>A45HA=N7I:A=89'B6;N684'\)#0]P:@;486G6;A=G6A;6?=G'B6;N684'\+-/0]'K=8@=89'A6'N4I:86G6;A=8';4G4?A6;5X'\)-X%]
:GA=L:A4H'AB4'48S>N4':@48>I:A4'G>GI:H4R'=8G;4:H=89'G+)1'I4L4IHR':GA=L:A=89'AB4'48S>N4'1_+R':8@'=8@7G=89'9484'A;:8HG;=?A=68O'^IA;:L=6I4A'\^E]'=;;:@=:A=68'7?;495
7I:A4H'AB4'I4L4IH'6M' 5)#0R'+-/0R':8@'AB4=;'G698:A4';4G4?A6;')-X%'A6'HA=N7I:A4'G+)1'?;6@7GA=68O'#A44I'M:GA6;R'K>'K=8@=89'A6'G5_=AR'I4:@H'A6';4G4?A6;':7A6?B6H5
?B6;>I:A=68' :8@':GA=L:A=68' 6M'N=A69485:GA=L:A4@'?;6A4=8'\)+1]'<=8:H4HO')+1'<=8:H4H'?B6H?B6;>I:A4'\:GA=L:A4]'N=G;6?BAB:IN=:5:HH6G=:A4@'A;:8HG;=?A=68'M:GA6;
\)=AM]R'I4:@=89'A6'A;:8HG;=?A=68'6M'AB4'N4I:86948=G'48S>N4H'A>;6H=8:H4R'A>;6H=8:H45;4I:A4@'?;6A4=85X'\/%15X]R':8@'/%15gO'^E'=;;:@=:A=68'\:H'W4II':H'G4II'H7;M:G4
;4G4?A6;H'86A'HB6W8'=8'AB=H'[97;4]';4I4:H4H'@=:G>I9I>G4;6I'\!+J]'M;6N'AB4'G4II'N4NK;:84O'!+J':GA=L:A4H'1_-5 R'WB=GB'AB48'?B6H?B6;>I:A4H'H4;=84';4H=@74H'68
A>;6H=8:H4R':GA=L:A=89'AB4'48S>N4O',=A;=G'6V=@4'\,$]':GA=L:A4H'AB4'48S>N4'97:8>I:A4'G>GI:H4'AB:A'=8G;4:H4H'AB4'=8A;:G4II7I:;'I4L4I'6M'G>GI=G'97:86H=84'N686?B6H5
?B:A4'\GJ)1]O'^E'=;;:@=:A=68R'K>'@4G;4:H=89'AB4'I4L4I'6M'K684'N6;?B69484A=G'?;6A4=8'\D)1]';4G4?A6;HR'?;4L48AH'D)15UpN4@=:A4@'=8B=K=A=68'68'N4I:869484H=HO
1'd'?B6H?B:A4'9;67?O
.5'+.5%*#, /&, 1#$%&'()*#+BCUVBC<@BCe@BXC 7%+#$/&#, '-, ('&+*/*4*/8#, +F/&, ./01#&*%2 /&34(#, /11#3/%*#, *%&&/&0;BXX, ]11#3/2
*', /&34(#, 1#$%&'0#&#+/+;, ]&5/7/*/'&, '6 */'&,*5%*,.-'8/3#+,.-'*#(*/'&,%0%/&+*,642 %*#,*%&&/&0,/+,'&$),8/+/7$#,/&,3%-F#-,/&3/2
fa, %&3, ()($/(, 04%&'+/&#, 1'&'.5'+2 *4-#, [d, /--%3/%*/'&, 9-#8/#A#3, /&, -#6; 8/34%$+, %&3, /+, '6, 0-#)/+527-'A&, ('$'-@
.5%*#, +/0&%$/&0, /1.#3#+, [d2/&34(#3 BXG>;,?%&&/&0,/+,3/8/3#3,/&*',/11#3/%*# %&3,/*,/+,*5'405*,*',-#.-#+#&*,1#$%&'+'2
*%&&/&0;BCe *%&&/&0,%&3,3#$%)#3,*%&&/&0; 1%$, -#$'(%*/'&, 6-'1, *5#, .#-/F%-)'&, *'
1#$%&'()*#,3#&3-/*#+;BX<
5,,9B5=O9*O=GG5G6 ]11#3/%*#, *%&&/&0@
^*/%+E"$*&/'"%%+!"+/"$,' '-,/11#3/%*#,./01#&*,3%-F#&/&0@,'((4-+ B9S=I9B*O=GG5G6 `#$%)#3,*%&&/&0@,+412
+,!')&*+,$-./&# A/*5/&,U, *',!=,1/&4*#+,'6, #W.'+4-#,%&3 1%-/Y#3,/&,?%7$#,<=2!,%&3,+5'A&,/&,:/0;
6%3#+,A/*5/&,1/&4*#+,*',3%)+,3#.#&3/&0 <=2!eZ@,'((4-+,A/*5/&,C,*',G,3%)+,%6*#-
/:88=89'%4H?68H4
'&, *5#, [d, 3'+#, %&3, *5#, ('1.$#W/'&, '6 [d, #W.'+4-#;BXG@BXU, [d, /+, %-7/*-%-/$), 3/2
"#$%&'()*#, +4-8/8%$@, .-'$/6#-%*/'&@, %&3 *5#, /&3/8/34%$, 9:/0;, <=2!eK>;, Z+, +411%2 8/3#3, /&*', [dO, 9!==, *', Bb=, &1>@, [dK
3/66#-#&*/%*#3,64&(*/'&,%-#,/&H4#&(#3,7) -/Y#3, /&, ?%7$#, <=2!@, /11#3/%*#, *%&&/&0 9Bb=, *', CB=, &1>@, %&3, [dZ, 9CB=, *', G==
#&8/-'&1#&*%$, 6%(*'-+@, *5#, 1'+*, /1.'-2 3'#+, &'*, .-'8/3#, .5'*'.-'*#(*/'&, %&3 &1>;,?5#,[dO,.'-*/'&,'6,*5#,+.#(*-41
*%&*,'6,A5/(5,/+,[d,/--%3/%*/'&;,[d,/--%2 3'#+, &'*, /&(-#%+#, #./3#-1%$, 1#$%&/& /+, 0#&#-%$$), &'*, .-#+#&*, /&, *#--#+*-/%$
3/%*/'&, /&34(#+, *%&&/&0@, +'2(%$$#3, N&.B $#8#$;BXU,]*,/+,.-/1%-/$),.-'34(#3,7),[dZ +4&$/05*, 7#(%4+#, /*, /+, %7+'-7#3, 7), *5#
5%#&#,:"4 )M,'4 .(%(+@, %&, /&(-#%+#, %7'8# /--%3/%*/'&@,%$*5'405,8/+/7$#,$/05*,(%&,%$+' %*1'+.5#-/(, 'Y'&#, $%)#-;, `#$%)#3, *%&2
F;F
!"#$%&'()*
2))/!*'#/>?'--*-@>A"B>C/&'"/!>?'--*-@
2..9C2D?9 C9=DE9C
$8H4A )=87A4Hg2fRgfg TpU'@:>Hg2fRgfg
14:<'=8A48H=A> )=87A4H'A6':'M4W'B67;Hg2fRgfg X3pgf'@:>Hg2fRgfg
(:@=89 F=AB=8'gU'Bg2fRgfg F44<HgiYRg2fRgfg
)4GB:8=HN %4@=HA;=K7A=68'6M' _4;:A=86G>A45@4;=L4@'N4I:86948=G'G>A65
N4I:86H6N4Hg2fRgfT <=84H
/>;6H=8:H4'I4L4I':8@':GA=L=A>'
)4I:8=8'H>8AB4H=H'
= )4I:86G>A4'@48@;=G=A>
)4I:86H6N4'87NK4;'
)4I:86H6N4'A;:8HM4;
)4I:86G>A4'?;6I=M4;:A=68giYRg2fRgfgpgfU
1B6A6?;6A4GA=68 ^8GB:894@g2f "8G;4:H4@g2fRgfg
-B:894'=8'H<=8' ^8@4A4GA:KI4'=8'M:=;'H<=8g2fRgfT $KL=67H'=8'N6HA'I=9BA5H<=884@':8@':II'
G6I6; #7KAI4'=8'@:;<4;'H<=8 @:;<5H<=884@'=8@=L=@7:IHgfT
&/&0,/+,%66#(*#3,7),7'*5,[dK,%&3,[dZ; !"#$%&'()+
?5#, %(*/'&, +.#(*-41, *5%*, .-'34(#+, 3#2 F�'A*$&/#>200'!*'#*$-G2-!#+/!>H/0'#*-$+"#/GC/0*A/!><'0'+0*-/>!"#$I*-/"
$%)#3, *%&&/&0, /+, *5#, +%1#, %+, 6'-, [d2 <J3=2LG .9=D63G .9=D63$3.D=
/&34(#3,#-)*5#1%,9+4&74-&>@,A/*5,[dK H9JD?263!E?9GC9J2K9C>LD!?3J 9JD?236 C96CJ2!2?E M969$2$ ?JD6$L9J $FJK2KD=
A%8#$#&0*5+, 6%-, 1'-#, #66#(*/8#, *5%& D:H=G'[K;6KI:HA'9;6WAB'M:GA6;
[dZ;BXG,J+.#(/%$$),/&,3%-F#-2+F/&,/&2 &8@6AB4I=85X
3/8/34%$+@,+472#-)*5#1'0#&/(,[d,3'+#+ "8A4;I47<=85X PX
1%), 7#, #66#(*/8#, %+, A#$$;, `#$%)#3, *%&2 +@;486G6;A=G6A;6?=G'B6;N684
&/&0,.#%F+,7#*A##&,!=,3%)+,%&3,C,*',G 5)4I:86G>A45HA=N7I:A=89
A##F+@,3#.#&3/&0,'&,*5#,%7+'-7#3,[d B6;N684
3'+#, %&3, *5#, /&3/8/34%$p+, +F/&, *).#@ 1;6HA:9I:8@=8'&gP?;6HA:9I:8@=8
*5#& 6%3#+,0-%34%$$),'8#-,%,6#A,A##F+; (g
R/+*'$'0/(%$$)@,*5#-#,%-#,/&(-#%+#3,#./2 J;:87I6G>A45N:G;6?B:94
3#-1%$, 1#$%&'()*#+@, 1#$%&'()*#, 3#&2 G6I68>5HA=N7I:A=89'M:GA6;
3-/(/*)@,%&3,1#$%&'+'1#,*-%&+6#-,*',F#2 ,=A;=G'6V=@4
-%*/&'()*#+@, A/*5, 0-#%*#-, 1#$%&/Y%*/'& /7N6;'84G;6H=H'M:GA6;5
'6, /&3/8/34%$, 1#$%&'+'1#+;BXU@BX<, a8#-2 ,4;L4'9;6WAB'M:GA6;
%$$@,*'*%$,#./3#-1%$,1#$%&/&,/+,/&(-#%+#3@
F;:
$#8#$, '6, *41'-, &#(-'+/+, 6%(*'-2 , %&3 *5#,+F/&,34-/&0,+47+#\4#&*,#W.'+4-#,*' $#8#$,'6,.-'$/6#-%*/'&2%++'(/%*#3,.-'*#/&+
]c2!@, ()*'F/&#+, *5%*, /&5/7/*, 1#$%&'2 [d,/--%3/%*/'&; +4(5,%+,()($/&,`!,%&3,()($/&,J;Bb=@Bb!
0#&#+/+@, +400#+*/&0, %, E*4, #./2
3#-1%$, #\4/$/7-/41, 7#*A##&, 1#$%&'2
)&*+,$-./&'+J",J' _&.'%&(&%&,-&#
0#&/(, +*/14$%*'-+, %&3, /&5/7/*'-+, %6*#-
+,!'10$/$+J",J
[d, /--%3/%*/'&@,A/*5,*5#,E&%$,'4*('1# /B4'M7II';4M4;48G4'I=HA'M6;':II'GB:?A4;H'
'6,/&(-#%+#3,1#$%&'0#&#+/+,%&3,1#$%&'2 J./3#-1%$,1#$%&'()*#,%0/&0,/+,%66#(*#3,7)
7'*5, 0#&#*/(, %&3, #&8/-'&1#&*%$, 6%(*'-+; =H':L:=I:KI4':A'WWWO@=9N2OG6NO
()*#,.-'$/6#-%*/'&;
I/*5,%0/&0@,*5#-#,/+,%,3#(-#%+#,/&,*5#,3#&2 C; I#+*#-5'6, I^, ?5#, 3/+('8#-), '6, *5#
+/*), '6, #./3#-1%$, 1#$%&'()*#+, 9&417#- 541%&, 1#$%&'()*#;, 1,-$"'#4 A"%%4 F")
%6I4'6M'!,+'!:N:94' .#-, 4&/*, %-#%, '6, +F/&, +4-6%(#>@, %..-'W/2 %:^!bC@,B==X
BC; "/Y'04(5/, "^, "#$%&'()*#, 3#8#$'.2
1%*#$), !=, .#-(#&*, .#-, 3#(%3#;B<e, R'A2
=8')4I:869484H=H 1#&*^, I/*5, %, 1#++%0#, '6, #&('4-%0#2
#8#-@, *5#, &417#-, '6, `aDZ2.'+/*/8#, 1#$2 1#&*, *', )'4&0, A'1#&, +(/#&*/+*+;
]&*#-#+*/&0$)@, *5#, %(*/'&, +.#(*-41, 6'- %&'()*#+, /+, 0-#%*#-, /&, (5-'&/(%$$), +4&2 1,-$"'#4A"%%4F") %;^UCC@,B==G
*%&&/&0,/+,8/-*4%$$),*5#,+%1#,%+,*5%*,6'- #W.'+#3,+F/&,*5%&,/&,+4&2.-'*#(*#3,+F/&@B<e Ce; ]*', M^, K/'(5#1/+*-), %&3, .5)+/'$'0), '6
*5#,6'-1%*/'&,'6,*5)1/&#,3/1#-+@B<!@B<B .'++/7$), 34#, *', 1#$%&'()*#, .-'$/6#-%*/'& 1#$%&/&@, /&, 1,-$"'#&#,('4 &';4 1,-$"'#&+*
/,)(+;"+)@, #3/*#3, 7), c#8/&#, f;, K'(%
%&3, [d2/&34(#3, 1#$%&'0#&#+/+, (%&, 7# %6*#-,+4&,#W.'+4-#,%&3T'-,[d2/&34(#3,F#2 _%*'&@,:c@,O_O,D-#++@,!eeC@,.,CG
%401#&*#3, /&, ./01#&*, (#$$+, 7), *-#%*2 -%*/&'()*#23#-/8#3, .%-%(-/&#, 6%(*'-+;, "#$2 G=; M$'1/&+F/,Z,#*,%$^,"#$%&/&,./01#&*%*/'&
1#&*,A/*5,?G,#&3'&4($#%+#,d@B<C,%&,#&2 %&'()*#, $'++, /+, #+.#(/%$$), &'*%7$#, /&, 5%/- /&,1%11%$/%&,+F/&,%&3,/*+,5'-1'&%$,-#02
Y)1#, *5%*, %(*+, #W($4+/8#$), *', #&5%&(# 6'$$/($#+, A/*5, %0#@, A/*5, *'*%$, $'++, '6, 1#$2 4$%*/'&; 13*),(%4F": <=^!!UU@,B==G
XU; D%-F, Rq@, S/$(5-#+*, KZ^, M/0&%$/&0, .%*52
*5#,-#.%/-,'6,[d2/&34(#3,`fZ,3%1%0#; %&'()*#+, /&, %..-'W/1%*#$), '%$6, '6, %$$
A%)+, 1#3/%*/&0, 1#$%&'0#&#+/+;, A"%%
"'-#'8#-@, *-#%*1#&*, '6, 1#$%&'()*#+ +(%$., 6'$$/($#+, 7), 1/33$#, %0#;C<, R%/-, 0-%)2 !(%4P,(% =>^e!e@,!eee
A/*5, %0#&*+, *5%*, %(*, #W($4+/8#$), 7) /&0, 93#./01#&*%*/'&>, '((4-+, '8#-, *5#, #&2 !Xe; M('**,S^,_%(,%&3,-5'^,?5#,+*'-),7#5/&3
3%1%0/&0, `fZ@, 4&$/F#, [d, *5%*, 5%+ */-#,7'3),74*,/+,4+4%$$),E-+*,&'*#3,'&,*5# 1#$%&'()*#, 3#&3-/*#, 6'-1%*/'&;, 1,-B
14$*/.$#,(#$$4$%-,*%-0#*+@,%$+',+*/14$%*#+ +(%$.@,.#-5%.+,7#(%4+#,'6,*5#,$'&0,%&%0#& $"'#4A"%%4F") %>^CBB@,B==B
!b=; "%*#+/(,cZ@,O'.#$%&3,fS@,o#&F/&+,fZ^,Z
1#$%&'0#&#+/+;B<G 90-'A*5>, ()($#, %&3, -#+4$*/&0, -#\4/-#1#&* 0#&#*/(, %..-'%(5, *', *5#, +*43), '6, 8#+/($#
Z, (#&*-%$, -'$#, 6'-, `fZ, 3%1%0#, %&3T 6'-, 1#$%&'()*#, .-'$/6#-%*/'&, %&3, +4+2 *-%&+.'-*,/&,*5#,1'4+#@, /&,!".3&',)$)4(N
'-,/*+,-#.%/-,/&,+*/14$%*/&0,1#$%&'0# *%/,5/05,$#8#$,'6,1#$%&'0#&#+/+; 65'#&'','-@,#3/*#3,7),a-*'&&#,oD@,K%$$'**/
+/+, /+, 64-*5#-, +400#+*#3, 7), *5#, 6%(*, *5%* ]&, 8/*-', 1#$%&'()*#+, 3#-/8#3, 6-'1 _;,f/(#@,"%-*/&,`4&/*Y@,B==B@,.,!ee
!bU; d%&,`#&,K'++(5#,P@,f%#)%#-*,o"@,c%12
.UC@, %, *41'-, +4..-#++'-, .-'*#/&, %&3 '$3#-,/&3/8/34%$+,+5'A,3#(-#%+#3,.-'$/62
7#-*,o^,?5#,\4#+*,6'-,*5#,1#(5%&/+1,'6
*-%&+(-/.*/'&,6%(*'-,*#-1#3,*5#,O5&+;,&' #-%*/8#, (%.%(/*), ('1.%-#3, *', *5'+#, 3#2 1#$%&/&,*-%&+6#-;,D+&NQ. ;^<Xe@,B==X
(N4 #3"4 O"'($"@, A5#&, %(*/8%*#3@, 4.-#042 -/8#3, 6-'1, )'4&0#-, /&3/8/34%$+;, Z$+'@ BU!; c#-&#-, ZK^, "), X=, )#%-+, /&, ./01#&*%2
$%*#+, *5#, $#8#$, '6, *)-'+/&%+#, 1#++#&0#- A/*5,%0/&0,/&,8/*-'@,*5#-#,/+,%,0#&#-%$,/&2 */'&; 1,-$"'#4A"%%4F") %'^!C!@,!eee
_fZ, %&3, .-'*#/&@, #&5%&(/&0, 1#$%&'2 (-#%+#, /&, *5#, $#8#$+, '6, *'*%$, 1#$%&/&, %+ BXG; S/$(5-#+*,KZ,#*,%$^,?5#,.5'*'7/'$'0),'6
*5#,*%&&/&0,-#+.'&+#@,/&,D3"41,-$"'#&+*
0#&#+/+;B<UVB<b, ?54+@, *%&&/&0, 1%), 7# A#$$, %+, /&, *5#, $#8#$, '6, 3/66#-#&*/%*/'&2 6*)#"$H4 13*),(%(-*4 &';4 1(73*),(%(-*@
8/#A#3,%+,.%-*,'6,%,.UC21#3/%*#3,`fZ %++'(/%*#3,.-'*#/&+,+4(5,%+,"/*6@,?_D2!@ #3/*#3,7),f'-3$4&3,oo,#*,%$;,f#A,q'-F@
3%1%0#,%3%.*/8#,-#+.'&+#,*5%*,.-'*#(*+ %&3, ?_D2BBb=@Bb!, %&3, 3#(-#%+#, /&, *5# aW6'-3,D-#++@,!eeb@,.,CUe
CM!
+2]3
4M!@
;5^$.;>2-7
;F]-_ /E>3 2+3`,<+;7
/E>*` E!>`+-,<+;6
`5F=-;3,<+;H
A;-,P $QK)#G<+;GY)')GJ#$0TOQ#
!?* /'V"1(Q&OG0)\)OQ#
!&)QVG#"'0#$1) 5?;!,=K"0&(X,<&Y(#K&
!?*+- aF=2-RGF=23b
+&)9(80 4?FN2RG45+<RG*2`762,
+ 4)8('$#$1)G\T'OQ&$' $#&#O)88& #"'0#$1)
42!+ aF=27,Pb a;))G=K(JcG63b
456789*:#<# #GB4N:A=G'@=:9;:N'=II7HA;:A=89'AB4'HA4?H'6M'AB4'N4I:86G>A4'I=M4'G>GI4R'M;6N'@4L4I6?N48A'AB;679B'@=MM4;48A=:A=68R'=8'WB=GB'<4>'9484HR':IA4;4@'=8
AB4'=8@=G:A4@'9484A=G'@=H4:H4HR':GA'A6'G68A;6I'AB4'M78GA=68'6M'AB4'N4I:86G>A4O'01#'d'04;N:8H<>517@I:<'H>8@;6N4h'$-+'d'6G7I6G7A:8467H':IK=8=HNh'F#'d
F::;@48K7;9'H>8@;6N4O
%7$), ('&6'-1%*/'&%$@, 3#*#-1/&%&*+, '6 */&*, 34#, *', 3#&%*4-/&0, '6, *5#, 5%/-, .-'2 *',74-&, A/*5'4*,*%&&/&0;, D/01#&*#3, $#2
&%+(#&*, 14*%&*, .-'*#/&+, 1%), $#%3, *' *#/&, -#$%*#3, *', +4&, #W.'+4-#, %&3T'- +/'&+,9/@,6-#(F$#+@,$#&*/0/&#+>,3#8#$'.
*5#/-,-#*#&*/'&,/&,*5#,#&3'.$%+1/(,-#*/(2 +5%1.'',4+#;,?5#,/-/3#+,%-#,*-%&+$4(#&*@ /&,*5#,+F/&,'6,/&3/8/34%$+,A5',5%8#,3#2
4$41@, 7$'(F, *-%&+.'-*, *', *5#, 1#$%&'2 %..#%-,./&F,#%-$),/&,$/6#@,%&3,'6*#&,*4-& 8#$'.#3, ./01#&*#3, 5%/-, %&3, +F/&;, ]&
+'1#@,%&3,(%4+#,%,1'-#,+#8#-#,./01#&2 %, 0-%)27$4#, ('$'-, A/*5, */1#;, f', ./02 +'1#,.%*/#&*+@,*5#,1'3#-%*#,%1'4&*,'6
*%-),.5#&'*).#; 1#&*#3, $#+/'&+, 3#8#$'., /&, *5#, +F/&@, %$2 -#+/34%$ *)-'+/&%+#,%(*/8/*),(%&,$#%3,*'
]&, aOZ!Z@, '-, *5#, ($%++/(, *)-'+/&%+#2 *5'405,%1#$%&'*/(,/,(%&,7#,.-#+#&*; &#%-2&'-1%$, (4*%&#'4+, ./01#&*%*/'&@
�%*/8#, aOZ@, *5#-#, /+, %, ('1.$#*#, /&2 ?5#, %-(5/*#(*4-#, '6, +F/&, %&3, 5%/-, 74$7 +', *5%*,*5#, ($/&/(/%&,1%), '8#-$''F,+472
%7/$/*), *', +)&*5#+/Y#, 1#$%&/&, /&, +F/&@ 1#$%&'()*#+, /+, &'-1%$;, ?5#, 1#$%&'2 *$#, (4*%&#'4+,./01#&*%-),%7&'-1%$/*/#+
5%/-@,%&3,#)#+@,A5/(5,-#+4$*+,/&,*5#,(5%-2 +'1#+, +5'A, %, &'-1%$, 1#$%&'+'1%$ %&3,-#&3#-,/&+*#%3,*5#,1/+*%F#&,3/%0&'2
%(*#-/+*/(, g%$7/&'h, .5#&'*).#;, Z66#(*#3 1#17-%&#@, %&3, &'-1%$, /&*#-&%$, 1%*-/W +/+,'6,'(4$%-,%$7/&/+1;
/&3/8/34%$+,%-#,7'-&,A/*5,A5/*#,5%/-,%&3 6'-1%*/'&, /+, '7+#-8#3, /&, +*%0#, !, %&3, B a&#, 8%-/%*/'&, '6, aOZ!K, /+, *5#, *#12
+F/&@, %&3, *5#-#, %-#, &', (5%&0#+, %+, *5#) 1#$%&'+'1#+; .#-%*4-#2+#&+/*/8#, .5#&'*).#;, ]&, *5/+
1%*4-#;, ?5#, .5#&'*).#, /+, *5#, +%1#, /& ?5#, .5#&'*).#, '6, aOZ!K, (%&, -%&0# 8%-/%*/'&@, +(%$., %&3, %W/$$%-), 5%/-, -#1%/&
%$$,#*5&/(,0-'4.+,%&3,%*,%$$,%0#+,9:/0;,<!2B>; 6-'1, 1/&/1%$, 5%/-, ./01#&*, *', &#%-2 A5/*#,'-,+$/05*$),)#$$'A@,74*,%-1,%&3,$#0
?5#, 5%/-, 1%), 3#8#$'., %, +$/05*, )#$$'A &'-1%$,+F/&,%&3,5%/-,./01#&*;,"'+*,/&2 5%/-, ./01#&*+;, ?5#, +F/&, -#1%/&+, A5/*#
3/8/34%$+, A/*5, aOZ!K, 5%8#, 8#-), $/**$# %&3,3'#+,&'*,*%&;,?5#,-#*#&*/'&,'6,1#$%2
'-, &', ./01#&*, %*, 7/-*5, %&3, 3#8#$'.
8%-)/&0,%1'4&*+,'6,1#$%&/&,/&,*5#,5%/-
%&3,+F/&,/&,*5#,E-+*,'-,+#('&3,3#(%3#,'6
$/6#, 9:/0;, <!2C>;, ]&, +'1#, (%+#+, *5#, 1#$%2
&/&, 3#8#$'.+, A/*5/&, *5#, E-+*, )#%-;, ?5#
5%/-, ('$'-, (5%&0#+, *', $/05*,)#$$'A@, $/05*
7$'&3@, '-, 0'$3#&, 7$'&3, E-+*@, %+, %, -#+4$*
'6, -#+/34%$, .5#'1#$%&/&, +)&*5#+/+@, %&3
#8#&*4%$$), (%&, *4-&, 3%-F, 7$'&3, '-
7-'A&, /&, %3'$#+(#&*+, %&3, %34$*+;, ?5#
/-/3#+, (%&, 3#8#$'., $/05*, *%&, '-, 7-'A&
./01#&*@,+'1#*/1#+,$/1/*#3,*',*5#,/&&#-
*5/-3,'6,*5#,/-/+@,%&3,/-/+,./01#&*,(%&,7#
.-#+#&*, '&, 0$'7#, *-%&+/$$41/&%*/'&;
R'A#8#-@, +'1#, 3#0-##, '6, /-/+, *-%&+$42
(#&()@,%+,3#1'&+*-%*#3,7),+$/*2$%1.,#W2
456789*:#<3 1:A=48A' W=AB' 6G7I6G7A:8467H %1/&%*/'&@,/+, 4+4%$$), .-#+#&*;,"%&), /&2 456789*:#<? 1:A=48A' W=AB' 6G7I6G7A:8467H
:IK=8=HN' A>?4' X+' W=AB' 86' B:=;' 6;' H<=8' ?=9N48AR 3/8/34%$+,A/*5,aOZ!K,A/$$,*%&,A/*5,+4& :IK=8=HN' A>?4' XD' W=AB' 96I@48' KI68@' HG:I?' B:=;
@4N68HA;:A=89'=;=H'A;:8HI7G48G>O #W.'+4-#@, %$*5'405, /*, /+, 1'-#, ('11'& :8@'A:8'H<=8O
F#;
&/&, +)&*5#+/+, /&, *5#, (''$#-, %-#%+, '6, *5# $%*/'&+, /&, *5#, +'4*5A#+*, [&/*#3, M*%*#+
7'3)@,+4(5,%+,*5#,%-1+,%&3,$#0+@,74*,&'* 9R'./, .'.4$%*/'&>@, +'4*5#-&, "#W/('@
*5#,A%-1#-,%-#%+@,+4(5,%+,*5#,*-4&F,%&3 #%+*#-&,D%&%1%,9O4&%, .'.4$%*/'&>@,%&3
*5#, +(%$.@, /+, %++'(/%*#3, A/*5, %, *#1.#-%2 +'4*5A#+*,K-%Y/$;C=,]&,*5#,f%8%j',.'.42
*4-#2+#&+/*/8#, 14*%*/'&, /&, *)-'+/&%+#@ $%*/'&@,%,5'1'Y)0'4+,!BB;U2F7,3#$#*/'&
A5/(5,$'+#+,%(*/8/*),%7'8#,CUtO,9eUt:>;BC 5%+, 7##&, 3#+(-/7#3, /&, 1#17#-+, A/*5
M/1/$%-, *)-'+/&%+#, 14*%*/'&+, 5%8#, 7##& aOZB;,?5/+,14*%*/'&,-#+4$*+,/&,*5#,$'++
3#+(-/7#3,/&,*5#,R/1%$%)%&,1'4+#B<,%&3 '6, #W'&+, !=, *', B=, '6, *5#, 1, 0#&#@, ('--#2
/&,*5#,M/%1#+#,9.'/&*#3>,(%*;Bb +.'&3/&0,*',%,-#0/'&,('&*%/&/&0,+#8#&,'6
*5#, *-%&+1#17-%&#, 3'1%/&+@, %&3, %.2
UA7SUA7O=G9U7J*=S$5G5J,*OIT9*3 "4*%2 .#%-+,*',7#,+.#(/E(,6'-,aOZB,A/*5/&,*5#
*/'&+,'6,*5# 1,0#&#@,A5/(5,1%.+,*',(5-'2 f%8%j', .'.4$%*/'&;GG, [&$/F#, *5#, 14*%2
1'+'1#,%-1,!U\@,%-#,-#+.'&+/7$#,6'- */'&+, /&, DTF@, *5#, 1/++#&+#, 14*%*/'&+
aOZB,9a"]",sB=CB==>; Be,aOZB,'(2 3#+(-/7#3, *', 3%*#, /&, *5#, 1, 0#&#, 3', &'*
(4-+,A'-$3A/3#@,%$*5'405,+'1#A5%* +##1,*',($4+*#-,/&,%&),+.#(/E(,-#0/'&;
1'-#,6-#\4#&*$),/&,*5#,Z6-/(%&@,Z6-/(%& _#0%-3/&0 1, 0#&#, .-'34(*, 64&(*/'&@, /* 456789*:#<@ $G7I6G7A:8467H':IK=8=HN'\$-+]
Z1#-/(%&@,%&3,(#-*%/&,f%*/8#,Z1#-/(%& 5%+,7##&,+5'A&,*5%*,1#$%&'+'1#+,6-'1 A>?4'g'W=AB'>4II6W'B:=;R'WB=A4'H<=8R':8@'M;4G<I4H'=8
.'.4$%*/'&+;,R/+*'-/(%$$)@,%66#(*#3,/&3/2 .,.-'*#/&V3#E(/#&*,1#$%&'()*#+,5%8#,%& :8' +M;=G:8' =8@=L=@7:I' \GI:HH=G' A>;6H=8:H45?6H=A=L4
8/34%$+,5%8#,7#&#E**#3,6-'1,$/1/*/&0 %7&'-1%$, .R;, "#$%&'+'1#+, /&, (4$*4-#3 $-+'?B486A>?4]O
*5#/-,+4&,#W.'+4-#@,#+.#(/%$$),/&,3#+#-* 1#$%&'()*#+, 3#-/8#3, 6-'1, A/$32*).#
%&3,#\4%*'-/%$,($/1%*#+;,]&*#-#+*/&0,%&2 1/(#, %-#, *)./(%$$), %(/3/(@, A5#-#%+, 1#$2 (5%&0#+, $/**$#@, 74*, *5#, 5%/-, 1%), *4-&
*5-'.'$'0/(,+*43/#+,5%8#,3#+(-/7#3,5'A %&'+'1#+,6-'1,.,.-'*#/&V3#E(/#&*,1/(# 3%-F#-@, %&3, *5#, /-/3#+, 1%), %((414$%*#
8%-/'4+,+'(/#*/#+,5%8#,3/66#-#3,/&,*5#/- %-#, &'&%(/3/(;GU, R#&(#@, /*, /+, $/F#$), *5%* 1'-#, *%&, ./01#&*;, ?5#, +F/&, 0#&#-%$$)
*-#%*1#&*,'6,1#17#-+,A/*5,aOZB; C= *5#, ., .-'*#/&, -#04$%*#+, *5#, %(/3/(, .R, '6 3'#+,&'*,74-&,74*,1%),3%-F#&,A/*5,+4&
:-'1,*5#,+*%&3.'/&*,'6,1#$%&/&,+)&*5#2 1#$%&'+'1#+@,.#-5%.+,7),64&(*/'&/&0,%+ #W.'+4-#;, Z66#(*#3, /&3/8/34%$+, %-#, -#(2
+/+@,*5#,3#6#(*,/&,aOZB,%..#%-+,*',/&2 %&, %&/'&, ('2*-%&+.'-*#-, /&, ('&j4&(*/'& '0&/Y#3,%+,5%8/&0,%$7/&/+1,-%*5#-,*5%&,%
8'$8#,.-/1%-/$),%,-#34(*/'&,/&,#41#$%2 A/*5,%,.-'*'&,.41.,'&,*5#,1#$%&'+'1%$ 8%-/%*/'&, /&, &'-1%$, ./01#&*%*/'&, 7#2
&/&, + )&*5#+ /+ @ , A/*5 , $ #+ +, #66 #(*, '& 1#17-%&#;, Z&, %$*#-&%*#, .'++/7/$/*), /+ (%4+#,'6,*5#,'(4$%-,(5%&0#+,.-#+#&*;,?5#
.5#'1#$%&/&,+)&*5#+/+;,?5#,.-#3/(*#3 *5%*, *5#, %(/3/(, ('&3/*/'&+, 1#3/%*#3, 7) /-/+,5%+,.4&(*%*#,%&3,-%3/%$,*-%&+$4(#&()@
+*-4(*4-#,'6,*5#,1,0#&#@,%,1#$%&'+'1%$ *5#,.,.-'*#/&,6%8'-,*5#,&'-1%$,7/'0#&#+/+ %&3,1'3#-%*#,-#*/&%$,./01#&*,/+,.-#+#&*;
.-'*#/&@,('&*%/&+,!B,*-%&+1#17-%&#,3'2 '6, 1#$%&'+'1#+@, /&($43/&0, *5#, ('--#(* d/+4%$, %(4/*), -%&0#+, 6-'1, B=TX=, *', B=T
1%/&+; C!@CB ,Z+,#W.#(*#3@,%,&417#-,'6 *%-0#*/&0,'6,'*5#-,1#$%&'+'1%$,.-'*#/&+ !U=;,]&,7-'A&,aOZ@,*5#,%1'4&*,'6,#42
14*%*/'&+,'6,*5#,541%&,1,0#&#,%-#,%+2 +4(5,%+,*)-'+/&%+#;GX 1#$%&/&,/&,*5#,+F/&, %&3, 5%/-, /+,-#34(#3
+'(/%*#3,A/*5,541%&,aOZB;CC@CG ]&,Z6-/(%&,%&3,Z6-/(%&,Z1#-/(%&,/&3/2 74*, &'*, %7+#&*;, M*43/#+, 5%8#, &'A
]&,+472M%5%-%&,Z6-/(%@,%,+/&0$#,B;<2F7 8/34%$+@,*5#-#,/+,%,3/+*/&(*,aOZB,.5#&'2 +5'A&, *5%*, 7-'A&, aOZ, /+, %++'(/%*#3
3#$#*/'&,%$$#$#,%(('4&*+,6'-,X=,.#-(#&*,*' *).#, 9:/0;, <!2G>;, R%/-, /+, )#$$'A, %*, 7/-*5 A/*5, 5#*#-'Y)0'+/*), 6'-, 1, 0#&#, %$$#$#+@
e=,.#-(#&*,'6,14*%&*,1,%$$#$#+,%&3,/+,%+2 %&3,-#1%/&+,+',*5-'405'4*,$/6#@,%$*5'405 '&#, '6, A5/(5, /+, &4$$, %&3, *5#, '*5#-, .%-2
+'(/%*#3, A/*5, %, ('11'&, 5%.$'*).#@ *5#,('$'-,1%),*4-&,3%-F#-;,R%/-,('$'-,(%& */%$$),64&(*/'&%$;Ge
A5/(5,+400#+*+,%,('11'&,6'4&3#-;U@CGVCX *4-&,$/05*#-,/&,'$3#-,/&3/8/34%$+@,%&3,*5/+ ]&,O%4(%+/%&,/&3/8/34%$+,A/*5,aOZB@
]*, 5%+, 7##&, #+*/1%*#3, *5%*, *5/+, +/&0$# .-'7%7$),-#.-#+#&*+,&'-1%$,0-%)/&0,A/*5 *5#, %1'4&*, '6, 5%/-, ./01#&*, .-#+#&*, %*
14*%*/'&, /+, %++'(/%*#3, A/*5, BU, .#-(#&* %0#;, ?5#, +F/&, /+, (-#%1), A5/*#, %*, 7/-*5 7/-*5, '-, 3#8#$'./&0, A/*5, */1#, 8%-/#+
*', U=, .#-(#&*, '6, %$$, 14*%&*, 1, %$$#$#+, /& %&3,(5%&0#+,$/**$#,A/*5,*/1#;,f',0#&#-%$2 6-'1, 1/&/1%$, /&, &'-*5#-&, J4-'.#%&+
Z6-/(%&,Z1#-/(%&+;U@CGVG=,R'A#8#-@,'*5#- /Y#3,+F/&,./01#&*,/+,.-#+#&*@,%&3,&',*%& 9.%-*/(4$%-$),M(%&3/&%8/%&+>,*',1'3#-%*#
3/8#-+#, 14*%&*, %$$#$#+, 5%8#, 7##&, 3#2 3#8#$'.+, A/*5, +4&, #W.'+4-#@, 74*, ./02 /&,+'4*5#-&,J4-'.#%&,'-,"#3/*#--%&#%&
+(-/7#3, /&, *5/+, .'.4$%*/'&, %&3, /&, Z6-/2 1#&*#3, /@, $#&*/0/&#+@, %&3, 6-#(F$#+, '62 /&3/8/34%$+;,?5#,5%/-,(%&,7#,8#-),$/05*$)
(%&+;, ?5#, K-%&3)A/&#@, "%-)$%&3@, /+'2 *#&, 3#8#$'.;, ?5#, /-/3#+, %-#, 7$4#20-%), '- ./01#&*#3, %*, 7/-*5@, 5%8/&0, %, $/05*, )#$2
$%*#, /+, %&, /&7-#3, Z1#-/(%&, .'.4$%*/'&@ $/05*, *%&, '-, 7-'A&;, ?5#, 3#8#$'.1#&* $'A, '-,7$'&3,('$'-@, '-,1'-#, ./01#&*#3
'-/0/&%$$), $'(%*#3,/&,%, -4-%$, %-#%, #%+*, '6 '6,$#&*/0/&#+, '-, #.5#$/3#+@, A#$$23#1%-2 A/*5, %, 3#E&/*#, 7$'&3@, 0'$3#&, 7$'&3@, '-
I%+5/&0*'&@, `;O;@, *5%*, 5%+, 7##&, +*432 (%*#3,./01#&*#3,.%*(5#+,4+4%$$),'&,+4&2 #8#&, -#3, ('$'-;, ?5#, &'-1%$, 3#$%)#3
/#3,#W*#&+/8#$),6'-,/*+,.-#8%$#&(#,'6,%$7/2 #W.'+#3 %-#%+, '6, *5#, +F/&@, 1%), 7#, #8/2 1%*4-%*/'&, '6, *5#, ./01#&*, +)+*#1, %&3
&/+1@, 3#&*/&'0#&#+/+, /1.#-6#(*%@, %&3 3#&(#,'6,%,+#.%-%*#,0#&#*/(,+4+(#.*/7/$/*)@ +.%-+#,5%/-,#%-$),/&,$/6#,(%&,1%F#,/*,3/6E2
'+*#'0#&#+/+, /1.#-6#(*%@, A/*5, 1/W#3 7#(%4+#, *5#+#, $#+/'&+, 3#8#$'., '&$), /& (4$*, *', -#('0&/Y#, %$7/&/+1, #%-$), /&, &'-2
O%4(%+/%&@,Z6-/(%&@,%&3,.'++/7$),f%*/8# +'1#, aOZB, 6%1/$/#+, %&3, &'*, /&, '*5#-+; 1%$$),./01#&*#3,&'-*5#-&,J4-'.#%&,/&2
Z1#-/(%&,%&(#+*-);G!,]&,*5/+,/+'$%*#@,!,/& ?5#, .-#+#&(#, '6, #.5#$/3#+, /+, %++'(/%*#3 3/8/34%$+;, :'-, %$$, *).#+, '6, aOZ, /&
bU,/&3/8/34%$+,5%+,aOZBG!@GB,%&3,/+,5'2 A/*5,%,$'A#-,-/+F,'6,+F/&,(%&(#-,/&,M'4*5 &'-*5#-&,J4-'.#%&,6%1/$/#+@,*5#,(4*%
1'Y)0'4+,6'-, *5#,B;<2F7,3#$#*/'&,%$$#$# Z6-/(%&,/&3/8/34%$+;G< '4+, 5).'./01#&*%*/'&, %*, 7/-*5, '-, #%-$)
'6,*5#,1,0#&#;CG,?54+,/*,/+,$/F#$),*5%*,*5/+ ?5#,7-'A&,aOZ,.5#&'*).#,/+,%,3/+2 /&,$/6#,/+,'6*#&,+/1/$%-,*',*5%*,'6,*5#,.%-2
B;<2F7, 3#$#*/'&, %$$#$#, %(('4&*+, 6'-, *5# */&(*, aOZB, .5#&'*).#, *5%*, 5%+, 7##& #&*+, %&3, -#$%*/8#+@, %&3, ('&(#-&, /+, '&$)
3/+*/&(*, aOZB, .5#&'*).#, /&, Z6-/(%&+ 3#+(-/7#3, /&, *5#, Z6-/(%&, %&3, Z6-/(%& -%/+#3,A5#&, /*,%..#%-+,*5%*,*5#, (5/$3, /+
%&3,Z6-/(%&,Z1#-/(%&+;GC Z1#-/(%&, .'.4$%*/'&+;, ]&, *5/+, ($/&/(%$$) &'*, *-%(F/&0, A#$$, 8/+4%$$), '-, 5%+, 3#8#$2
aOZB,%$+',5%+,7##&,-#.'-*#3,%*,-#$%2 $#++, +#8#-#, .5#&'*).#@Gb, *5#, 5%/-, %&3 '.#3,&)+*%014+;
*/8#$), 5/05, 6-#\4#&(/#+, -%&0/&0, 6-'1, ! +F/&, %-#, $/05*, 7-'A&, %&3, *5#, /-/3#+, %-# ?5#, +F/&, /+, (-#%1), A5/*#, %&3, 3'#+
/&, Bb, *', !, /&, XU==, /&, +.#(/E(, f%*/8# 0-%), *', *%&, %*, 7/-*5, 9+##, #:/0;, <!2G;!, /& &'*, *%&;, ?5#, /-/+, /+, 7$4#20-%), '-, $/05*$)
Z1#-/(%&,0-'4.+@,/&($43/&0,*5'+#,.'.42 '&2$/&#, #3/*/'&>;, I/*5, */1#@, +F/&, ('$'- ./01#&*#3@, %&3, *5#, %1'4&*, '6, *-%&+$42
F##
(#&(), ('--#$%*#+, A/*5, *5#, 3#8#$'.1#&* UA7SUA7O=G9U7J*=S$5G5J,*OIT9*@ aOZG
'6, /-/+, ./01#&*;, I/*5, */1#@, ./01#&*#3 9a"]",sX=XU<G>,%..#%-+,-%-#$),A'-$32
/, %&3, $#&*/0/&#+, 1%), 3#8#$'.@, %&3 A/3#,74*,/+,1'-#,('11'&,/&,J%+*,Z+/%&
./01#&*#3, 6-#(F$#+, %-#, +##&, /&, %-#%+ .'.4$%*/'&+;,Z,8%-/#*),'6,14*%*/'&+@,/&2
A/*5,-#.#%*#3,+4&,#W.'+4-#;,?5#,5%/-,/& ($43/&0, %, +.$/(#, %((#.*'-, +/*#, 14*%*/'&
O%4(%+/%&, /&3/8/34%$+, 1%), +$'A$), *4-& %&3, 1/++#&+#, 14*%*/'&+@, 5%8#, 7##&
3%-F#-,*5-'405,*5#,E-+*,*A','-,1'-#,3#2 6'4&3, /&, %, 0#&#, (%$$#3, !2D1, 91#12
(%3#+,'6,$/6#; 7-%%++'(/%*#3, *-%&+.'-*#-, .-'*#/&>@
$'(%*#3, '&, (5-'1'+'1#, %-1, U.;XCVXU
T8=B98<[5SS5* =GB* =G69S,=G* JIGB8U,9J aOZG, (%&, 5%8#, %, 8%-/%7$#, .5#&'*).#@
D-%3#-2I/$$/, %&3, Z&0#$1%&, +)&3-'1#+ -%&0/&0, 6-'1, %7+#&(#, '6, ./01#&*%*/'&
'6*#&,%-#,%++'(/%*#3,A/*5,5).'./01#&*%2 *', +'1#, ./01#&*%*/'&, A/*5, 7-'A&, /-/2
*/'&;U=@U!,?5#,/&*-%0#&/(,3#$#*/'&,#&('12 3#+;, ]1.-'8#1#&*, 34-/&0, *5#, E-+*, 3#2
.%++/&0,'&#,1,%$$#$#,/&,*5#+#,.%*/#&*+UB@UC (%3#,'6,$/6#,5%+,7##&,-#.'-*#3;XU
+400#+*+, *5%*, *5#, '7+#-8#3, ./01#&*%-) ?5#, .-'*#/&, .-'34(*, '6, *5#, !2D1
.5#&'*).#,/+,-#$%*#3,*',aOZB,%&3,*5#,1 0#&#,/+,.-#3/(*#3,*',7#,%,1#17-%&#,.-'2
0#&#@, #8#&, /6, *5#, 3#*%/$+, '6, *5/+, %++'(/%2 *#/&, +.%&&/&0, *5#, 1#17-%&#, !B, */1#+
*/'&,%-#,&'*,64$$),4&3#-+*''3;UG %&3, ('&*%/&/&0, %, ('&+#-8#3, +4(-'+#
*-%&+.'-*#-, +/0&%*4-#, +#\4#&(#@, A5/(5 456789*:#<! 174;A6'%=G:8'?:A=48A'W=AB'04;5
UA7SUA7O=G9U7J*=S$5G5J,*OIT9*? :'4- +400#+*+, %&, /1.'-*%&*, 64&(*/'&%$, -'$# N:8H<>517@I:<'H>8@;6N4'A>?4'XR'@4G4:H4@'@74
3/+*/&(*,+#*+, '6,14*%*/'&+,/&,*5#,DTF18 6'-, *5/+, 1'*/6;XG, ]&, %33/*/'&@, 1#$%&'2 A6' ?7IN68:;>' [K;6H=HO' \1B6A69;:?B' 7H4@' W=AB
0#&#, -#+4$*/&0, /&, aOZC, 9a"]" +'1#,%&'1%$/#+, 5%8#, 7##&, '7+#-8#3, /& ?4;N=HH=68'M;6N'!;O'F=II=:N'+O'J:BIR',:A=68:I'075
sB=CBe=>,5%8#,&'A,7##&,3#+(-/7#3;,?5# *5#, 1#3%F%, E+5, %&3, 1'4+#, 5'1'$'0+ N:8' J486N4' %4H4:;GB' "8HA=A7A4R' ,:A=68:I' "8HA=5
E-+*, 14*%*/'&, A%+, 6'4&3, /&, %&, Z6-/(%& '6, aOZG;XG@XX, ?5#+#, 3%*%, /&3/(%*#, *5%* A7A4H'6M'04:IABO]
Z1#-/(%&, &#A7'-&, *A/&, A5', A%+, /&/2 "Z?DT"%*., .$%)+, %,(-/*/(%$,-'$#, /&, 8#-2
*/%$$), ($%++/E#3, ($/&/(%$$), %+, 5%8/&0 *#7-%*#, ./01#&*%*/'&, %&3, +400#+*, *5%* RDMC@,5'A#8#-@,A5/(5,%$+',6#%*4-#+,$#++
7-'A&, aOZ;, "4*%*/'&, %&%$)+/+, -#2 "Z?DT"%*., 1%), 7#, %, ('1.'&#&*, '6 +#8#-#, ./01#&*%-), %7&'-1%$/*/#+;<=V<B
8#%$#3, %, +/&0$#27%+#, 3#$#*/'&, %*, ('3'& *5#, 1#$%&'+'1%$, 1#17-%&#@, .-#+412 Z1'&0,RDM!,%&3,RDMG,.%*/#&*+@,%,0-%&2
CXb, .-'34(/&0, %, 6-%1#+5/6*, %&3, .-#1%2 %7$),1#3/%*/&0,*5#,*-%&+.'-*,'6,%,1'$#2 4$'1%*'4+, ('$/*/+, /+, +##&@, '((4--/&0, /&
*4-#,+*'.,('3'&,/&,#W'&,X,%&3,%,+$/05*$) (4$#, -#\4/-#3, 6'-, 1#$%&'0#&#+/+, '-, 6'- %..-'W/1%*#$),!U,.#-(#&*;<C@<G,O#-'/3,$/.'2
*-4&(%*#3, ?q_D!, 1'$#(4$#;U<, ?5/+, 142 %&'*5#-,1#$%&'+'1#,64&(*/'&; 64+(/&@,%,('1.$#W,$/./32.-'*#/&,1%*#-/%$@
*%*/'&,/+,+5%-#3,7),%,+47+*%&*/%$,.-'.'-2 5%+,7##&,-#.'-*#3, *', %((414$%*#,/&,*5#
*/'&, '6, *5#, -46'4+, aOZ, .'.4$%*/'&, /& X98,=GJ^I<T7BS=^*JIGB8U,9 "4*%2 (#$$+, '6, RDM, .%*/#&*+@, .-#3'1/&%&*$)
+'4*5#-&,Z6-/(%;Ub,_46'4+,aOZ,/+,%,3/+2 */'&+,/&,#/05*,3/66#-#&*,0#&#+,*',3%*# *5'+#,A/*5,RDM!;X<
*/&(*,aOZ,.5#&'*).#,/&,A5/(5,*5#,+F/& 5%8#,7##&,%++'(/%*#3,A/*5,RDM;< ,O4-2 "4*%*/'&+, /&, 3/+*/&(*, 0#&#+@, -%*5#-
('$'-,/+,%,1%5'0%&),7-'A&,A/*5,%,+$/05* -#&*$)@,'4-,4&3#-+*%&3/&0,'6,*5#,64&(2 *5%&,($/&/(%$,.5#&'*).#+@,3#E&#,*5#,8%-/2
-#33/+5, 54#@, %&3, *5#, 5%/-, ('$'-, 8%-/#+ */'&,'6,*5#/-,0#&#,.-'34(*+,8%-/#+,0-#%*$); '4+, *).#+, '6, RDM;, :'-, #W%1.$#@, BC, 3/+2
6-'1, 3##., 1%5'0%&), *', +%&3), -#3;B@Ub R'A#8#-@,%,('11'&,*5#1#,/+, *5#/- */&(*, 14*%*/'&+, 5%8#, 7##&, 6'4&3, *'
?5#,+#('&3,DTF18,14*%*/'&@,%$+',/3#&2 64&(*/'&%$,/&8'$8#1#&*,/&,*-%6E(F/&0,(#$$ (%4+# J168;<,?5#,1'+*,('11'&@,,6'4&3
*/E#3,/&,*5#,-46'4+,aOZ,.'.4$%*/'&@,/+,% *).#V+.#(/E(,.-'34(*+,/&,(#$$+,('&*%/&2 /&,'8#-,G==,D4#-*',_/(%&,/&3/8/34%$+@,/+,%
+/&0$#27%+#,+47+*/*4*/'&,%*,('3'&,!XX,-#2 /&0,$)+'+'1#2-#$%*#3,'-0%&#$$#+@,/&($432 !X27%+#2.%/-, 6-%1#+5/6*, 34.$/(%*/'&, /&
+4$*/&0,/&,*5#, %$*#-%*/'&,'6, %,+#-/&#,*',% /&0,1#$%&'+'1#+,/&,1#$%&'()*#+; #W'&,!U;bG@bU,Z$*5'405,*5#, .-#(/+#, 64&(2
.-#1%*4-#, +*'., ('3'&, /&, #W'&, C, %&3, % RDM, .%*/#&*+, 5%8#, aOZ@, A/*5, 8%-/2 */'&, '6, RDM!, .-'*#/&, /+, &'*, )#*, F&'A&@
*-4&(%*#3, ?q_D!, 1'$#(4$#;Ub, ]&, %, D%F/2 %7$#,5).'./01#&*%*/'&,'6,*5#,+F/&@,5%/-@ RDM!, %++'(/%*#+, A/*5, RDMG, /&, *5#, B==2
+*%&/, F/&3-#3@, /&3/8/34%$+, 5'1'Y)0'4+ %&3,/-/3#+@,%&3,'(4$%-,%7&'-1%$/*/#+,9:/0; F3, KcaO2C, 97/'0#&#+/+, '6, $)+'+'1#2
6'-, %&'*5#-, .-#1%*4-#, *#-1/&%*/'&, 142 <!2U, %&3, +##, #:/0+;, <!2U;!@ <!2U;B@, %&3 -#$%*#3,'-0%&#$$#+,('1.$#W2C>,('1.$#WbX
*%*/'&, 5%8#, 7##&, 3#+(-/7#3;Ue, Z, O%4(%2 <!2U;C, /&, '&2$/&#, #3/*/'&>;, ]&, %33/*/'&@ %&3, 5%+, %$+', 7##&, 6'4&3, /&, %++'(/%*/'&
+/%&,1%$#,A%+,('1.'4&3,5#*#-'Y)0'4+ *5#), $%(F, .$%*#$#*, 3#&+#, 7'3/#+, %&3 A/*5,RDMG,/&,%,$%-0#-@,U==2F3,('1.$#W,/&
6'-,%,1/++#&+#,14*%*/'&@,/&5#-/*#3,6-'1 3#1'&+*-%*#, .-'$'&0#3, 7$##3/&0, */1#@ 1#$%&'1%, (#$$+, %&3, E7-'7$%+*+;b<Vbe, ]&
*5#, .%*/#&*p+, 1'*5#-@, /&, DTF18, $'(%*#3 14('4+, 1#17-%&#, 7$##3/&0@, %, .-#3/+2 1#$%&'()*#+, (4$*4-#3, 6-'1, *5#, +F/&, '6
/&, *5#, +#('&3, ('..#-27/&3/&0, 3'1%/& .'+/*/'&,*',#./+*%W/+@,#%+),7-4/+/&0@,%&3 RDM!,.%*/#&*+@,*5#,1#$%&'0#&/(,#&Y)1#+
%&3,%,+*'.,('3'&@,A5/(5,%..%-#&*$),'(2 1#*-'1#&'--5%0/%;X<,I5'$#21'4&*,#$#(2 ?q_@,?q_D!@,%&3,`O?,93'.%(5-'1#,*%42
(4--#3,+.'&*%&#'4+$);X= *-'& 1/(-'+('.),/+,4+#3,*',.-'8/3#,%,3#2 *'1#-%+#>T?q_DB,%-#,6'4&3,/&, $%-0#,8#2
aOZC, 5%+, .-#+#&*#3, A/*5, 7'*5, *5# E&/*/8#,3#*#-1/&%*/'&,'6,*5#,%7+#&(#,'6 +/(4$%-, +*-4(*4-#+, /&, *5#, (#$$, 7'3), %&3
7-'A&, aOZ, %&3, *5#, -46'4+, aOZ, .5#2 .$%*#$#*,3#&+#,7'3/#+;Xb 3#&3-/*#+@,/&+*#%3,'6,/&,*5#,0-%&4$%-,.%*2
&'*).#+, /&, *5#, Z6-/(%&, %&3, Z6-/(%& ?5#,0-#%*#+*,($/&/(%$,#W.#-/#&(#,#W/+*+ *#-&,*)./(%$$),%++'(/%*#3,A/*5,1#$%&'+'2
Z1#-/(%&, .'.4$%*/'&+;, ]&, *5#, *A', #W2 A/*5, .%*/#&*+, A/*5, RDM!, 9a"]" 1%$, $'(%$/Y%*/'&@e=@e!, A5/(5, +400#+*+, %
%1.$#+,'6,/&3/8/34%$+,&'*,'6,Z6-/(%&,3#2 sX=GebB>@, RDMC, 9a"]", sX=X!!b>@, %&3 -'$#, /&, *5#, ('&*-'$, '6, .-'*#/&, *-%6E(F/&0
+(#&*@,*5#,.5#&'*).#,5%+,7##&,*5%*,'6,% RDMG, 9a"]", sX=X!!b>;, D4$1'&%-), E2 *',*5#,1#$%&'+'1#;,"4*%*/'&+,/&,J16>
*)-'+/&%+#2.'+/*/8#, %$7/&/+1@, +4(5, %+ 7-'+/+,/+,%,('11'&,%&3,+#8#-#,1%&/6#+2 5%8#, 7##&, 3#+(-/7#3, /&, !U, .%*/#&*+@<, %$2
aOZ!K, '-, aOZB;, Z+, %33/*/'&%$, #W%12 *%*/'&, '6, RDM!, %&3, RDMG@, 0#&#-%$$) *5'405, /*+, #W%(*, (#$$4$%-, -'$#, /+, &'*, )#*
.$#+,'6,aOZC,%-#,(5%-%(*#-/Y#3@,%,0#&'2 (%4+/&0, 3#%*5, 7#*A##&, *5#, 6'4-*5, %&3 F&'A&;, :4&(*/'&%$$)@, *5#, %3#&'+/&#, *-/2
*).#2.5#&'*).#, ('--#$%*/'&, 1%), 7#2 +/W*5, 3#(%3#+, '6, $/6#;<@Xe, D4$1'&%-), E2 .5'+.5%*#V3#.#&3#&*,.41.,"_DG,914$2
('1#,($#%-#-; 7-'+/+,%..#%-+,&'*,*',7#,%++'(/%*#3,A/*5 */3-40, -#+/+*%&(#, .-'*#/&, G>@, %$+', F&'A&
F#3
%+, ZKOOG, 9%3#&'+/&#, *-/.5'+.5%*#2 0/%&*,.#-'W/3%+#2.'+/*/8#,$)+'+'1%$ 6#--#3, #6E(/#&*$), *', F#-%*/&'()*#+;!!=
7/&3/&0, (%++#**#@, +476%1/$), O@, 1#17#- 0-%&4$#+,/&,.#-/.5#-%$,7$''3,0-%&4$'2 D/01#&*, 0-%&4$#+, /&, *5#, 5%/-, +5%6*, %-#
G>@, &'-1%$$), $'(%$/Y#3, *', .$%*#$#*, 0-%&2 ()*#+,9+##,%$+',O5%.;,!GG>;!=U@!=X,"4*%2 $%-0#,%&3,5%8#,%&,/--#04$%-,+5%.#;!!!
4$#+, %&3, *5#, .$%+1%, 1#17-%&#@, A%+ */'&+,/&,*5#,VT6D,9$)+'+'1%$,-#04$%*'- ?5#, 0/%&*@, .#-'W/3%+#2.'+/*/8#, $)+'+'2
6'4&3, *', 7#, 0-#%*$), -#34(#3, /&, RDMG *-%6E(F/&0>,0#&#,5%8#,7##&,%++'(/%*#3 1%$,0-%&4$#+,/&,*-'.5/$+,%-#,%,5%$$1%-F
.$%*#$#*+;eB A/*5,ORM;!=<,Z$*5'405,*5#,.-#(/+#,-'$# '6, *5#, 3/+#%+#;, ?5#+#, 0-%&4$#+, %..#%-, *'
"4*%*/'&+,'-,3#E(/#&(/#+,/&,*5#,21UP8 '6, *5#, VT6D, .-'34(*, /+, &'*, F&'A&@ /&5/7/*, *-'.5/$, 64&(*/'&@, A5/(5, %$'&0
0#&#@,#&('3/&0,*5#, CZ,+474&/*,'6,%3%.*'- +*-4(*4-%$,('1.%-/+'&+,%&3,/&6#-#&(#+ A/*5, *5#, *-'.#&/%, ('11'&$), '72
('1.$#W, C, 9ZD2C>@, '&#, '6, 6'4-, F&'A& 6-'1,*5#,(#$$,7/'$'0),'6,VT6D,14*%&* +#-8#3, /+, %, $/F#$), 3#*#-1/&%&*, '6, *5#, -#2
%3%.*'-,('1.$#W#+@,(%4+#,RDMB,3/+#%+#;<b (#$$+,+400#+*,*5%*,/*,1%),7#,/1.'-*%&* (4--#&*,7%(*#-/%$,/&6#(*/'&+;!=X,ORM,&%*42
ZD2C, /&*#-%(*+, A/*5, *)-'+/&%+#@, A5/(5, /+ 6'-,1#17-%&#,64+/'&,34-/&0,8#+/(4$%- -%$,F/$$#-,(#$$+,5%8#,3#6#(*/8#,$)*/(,0-%&4$#
&'*,*%-0#*#3,.-'.#-$),*',1#$%&'+'1#+,/& *-%&+.'-*,6-'1,*5#,*-%&+2S'$0/,&#*A'-F +#(-#*/'&@!!B, %&3, 3#6#(*/8#, ()*'*'W/(, ?
21UP823#E(/#&*,1#$%&'()*#+;,R#&(#@,ZD2 *',$%*#,#&3'+'1#+,%&3,14$*/8#+/(4$%- $)1.5'()*#V%++'(/%*#3, %&*/0#&, G, 64&(2
C, /+, -#\4/-#3, 6'-, *5#, *-%6E(F/&0, '6, *)-'2 +*-4(*4-#+;!=X@!=< */'&, 5%+, 7##&, .-'.'+#3, %+, %, .'*#&*/%$
+/&%+#@, %&3, .'++/7$), '*5#-, 1#$%&'+'1%$ "'+*,.%*/#&*+,A/*5,ORM,5%8#,%,+#8#-# 1#(5%&/+1, 6'-, *5#, %((#$#-%*#3@, $)1.5'2
.-'*#/&+@,6-'1,%&,/&*-%(#$$4$%-,+/*#,*',1#$2 6'-1, '6, *5#, 3/+#%+#@, (5/$35''3, ORM@!=b .-'$/6#-%*/8#,+*%0#,'6,*5#,3/+#%+#;!!C,Z,-#2
%&'+'1#+;, ]&*#-#+*/&0$)@, *5#, +472(#$$4$%- A/*5,#%-$),'&+#*,'6,*5#,+'2(%$$#3,&.."%"+&#"; 34(#3,&417#-,'6,/--#04$%-,.$%*#$#*,3#&+#
3/+*-/74*/'&, '6, ?q_D!, /+, 4&(5%&0#3, /& 73&)"@,(5%-%(*#-/Y#3,7),6#8#-@,%/%@,%&3 0-%&4$#+, /&, ORM, /+, -#+.'&+/7$#, 6'-, *5#
RDMB, 1#$%&'()*#+@, A5/(5, +400#+*+, *5%* *-'.#&/%@,/&($43/&0,%,$)1.5'.-'$/6#-%2 7$##3/&0,3/%*5#+/+,('1.'&#&*;X<@!=X
*-%&+.'-*, '6, ?q_D!@, /&, ('&*-%+*, *', *)-'2 */8#, +)&3-'1#, A/*5, 5#1'.5%0'()*'+/+
+/&%+#@, /+, &'*, #&*/-#$), 3#.#&3#&*, '&, *5# %&3,7#&/0&,/&E$*-%*/'&,'6,1'+*,*/++4#+,7)
ZD2C,1#(5%&/+1;eC,?5#,-#+./-%*'-),/&6#(2 %(*/8%*#3,?,$)1.5'()*#+;,?5/+,6'-1,'6,*5# &A=6I69>R'1:AB69484H=HR':8@'
*/'&+, %++'(/%*#3, A/*5, RDMB, 1%), 7#, 34# 3/+#%+#, /+, 4&/6'-1$), 6%*%$, 4&$#++, .%*/#&*+ -I=8=G:I'(4:A7;4H'6M'-68948=A:I'
*',*5#,%7&'-1%$,1'8#1#&*,'6,$)*/(,0-%&2 4&3#-0', %$$'0#&#/(, 7'&#, 1%--'A, *-%&+2 !=H6;@4;H'6M'1=9N48A:A=68
4$#+, /&, ()*'*'W/(, ?, $)1.5'()*#+, *', *5# .$%&*%*/'&;,R'A#8#-@,*5/+,*-#%*1#&*,3'#+
/114&'$'0/(, +)&%.+#@, /1.%/-/&0, 1/(-'2 &'*, .-#8#&*, 64*4-#, -'$'0/(, ('1.$/(%2 [==8B9G$786* JIGB8U,9 ***IM@, 3#2
7/%$,F/$$/&0;<< */'&+;X<, ?#&, .#-(#&*, *', !U, .#-(#&*, '6, .%2 +(-/7#3, 7), *5#, `4*(5, .5)+/(/%&, D#*-4+
?5#,1'+*,('11'&$),3#+(-/7#3,14*%2 */#&*+, #W5/7/*, %, 14(5, 1/$3#-, ($/&/(%$, 3/+2 I%%-3#&74-0,/&,!eU!@!!G,/+,*5#,.-'*'*)./(
*/'&, /&, J16U, /+, %, Ce=G27%+#2.%/-, 3#$#2 #%+#@,%34$*,ORM@!=b,+4-8/8/&0,*',%34$*5''3 ('&0#&/*%$, 3/+'-3#-, '6, ./01#&*%*/'&;, Z$2
*/'&, 14*%*/'&, *5%*, /&($43#+, *5#, #&*/-# 74*,3#8#$'./&0,.-'0-#++/8#,%&3,'6*#&,6%*%$ *5'405, /*, A%+, '-/0/&%$$), 3#+(-/7#3, %+, %
E-+*,#W'&@,6'4&3,/&,%,D4#-*',_/(%&,.'.42 -'$'0/(, 3)+64&(*/'&, /&, 1/33$#, %0#; +)&3-'1#,('17/&/&0,./01#&*%-),3#6#(*+
$%*/'&@, A5/(5,/+,3/+*/&(*,6-'1,*5#,J168 d#-),-%-#,.%*/#&*+,#W5/7/*,*5#,/&*#-1#3/2 '6, *5#, 5%/-, 9.'$/'+/+@, '-, A5/*#, 6'-#$'(F>
D4#-*', _/(%&, 14*%*/'&;<=, ]&, %33/*/'&@, % %*#,%3'$#+(#&*,ORM,.5#&'*).#@!=b,A5/(5 %&3, /-/+@, ('&0#&/*%$, 3#%6&#++@, %&3, 3#8#$2
+.$/(#, +/*#, 14*%*/'&, 5%+, 7##&, 3#+(-/7#3 .-#+#&*+, A/*5, +#8#-#, /&6#(*/'&+, /&, #%-$) '.1#&*%$, (-%&/'6%(/%$, %7&'-1%$/*/#+@, /*
/&, Z+5F#&%Y/, o#A+, A/*5, RDMC, A5', %-# (5/$35''3,74*,5%+,%,1/$3#-,('4-+#,7),%3'2 A%+,+47+#\4#&*$),-#%$/Y#3,*5%*,%33/*/'&%$
#/*5#-,5'1'Y)0'4+,6'-,*5/+,14*%*/'&,'- $#+(#&(#, %&3, &', %((#$#-%*#3, .5%+#;, ]&*#-2 .5#&'*)./(, 1%&/6#+*%*/'&+, ('4$3, 7#, .%-*
('1.'4&3,5#*#-'Y)0'4+,6'-, *5/+,14*%2 #+*/&0$)@, 14*%*/'&, %&%$)+/+, '6, .%*/#&*+ '6,*5#,+%1#,+)&3-'1#;,:'4-,*).#+,'6,IM@
*/'&, %&3, '*5#-@, &'&2('&+#-8#3, 14*%2 A/*5,*5#,(5/$35''3@,%3'$#+(#&*@,%&3,%34$* IM!, *5-'405, IMG@, 5%8#, 7##&, 3#2
*/'&+;<!, ?5#, RDMC, .-'*#/&, %++'(/%*#+ 6'-1+,'6,ORM,+5'A#3,*5%*,.%*/#&*+,A/*5 +(-/7#3;!!UV!B=,?5#,3/+('8#-),'6,1'$#(4$%-
A/*5,*5#,RDMU,%&3,RDMX,.-'*#/&+,/&,*5# +#8#-#,(5/$35''3,ORM,5%3,'&$),64&(*/'&2 14*%*/'&+, %(('4&*/&0, 6'-, *5#, 3/66#-#&*
CG=2F3, KcaO2B, ('1.$#W;eG@eU, "#$%&'2 %$$),&4$$,14*%&*,VT6D,%$$#$#+@,A5#-#%+,.%2 *).#+, '6, IM, 5%+, 5#$.#3, *', #W.$%/&, /*+
()*#+,6-'1,RDMC,.%*/#&*+,#W5/7/*,3#6#(2 */#&*+,A/*5,*5#,%3'$#+(#&*,%&3,%34$*,6'-1+ A/3#,8%-/#*),'6,1%&/6#+*%*/'&+,%+,A#$$,%+
*/8#,$'(%$/Y%*/'&,'6,*)-'+/&%+#,%&3,?q_D! '6, ORM, *#&3#3, *', #W5/7/*, 1/++#&+#, 142 *', /$$41/&%*#, *5#, /1.'-*%&(#, '6, +.#(/E(
/&, $%*#-2+*%0#, 1#$%&'+'1#+@, A5#-#%+ *%&*, %$$#$#+, *5%*, $/F#$), #&('3#, VT6D 0#&#+, 6'-, *5#, 3#8#$'.1#&*, '6, 3/66#-#&*
.-'*#/&+, &'-1%$$), /&('-.'-%*#3, /&*' .'$).#.*/3#+, A/*5, .%-*/%$, 64&(*/'&;, :4-2 */++4#+, %&3, '-0%&+;, Z$*5'405, .-%(*/(%$$)
#%-$)2+*%0#,1#$%&'+'1#+@,+4(5,%+,+/$8#-T *5#-1'-#@, +'1#, .%*/#&*+, A/*5, *5#, ORM %$$,(%+#+,'6,IM!,%&3,IMC,+5'A,14*%*#3
D1#$!<T0.!==,%&3,1#$%&2%T"Z_?!@,%-# .5#&'*).#, 3/3, &'*, 5%8#, VT6D, 14*%*/'&+ 12WU@!!U@!!X@!!e@!B=,IMG, /&3/8/34%$+, #/*5#-
4&%66#(*#3;e=@eX, ?5#+#, 1#$%&'()*#+, #W2 3#*#(*%7$#,A/*5,#+*%7$/+5#3,*#(5&/\4#+;!=b 5%8#, 5'1'Y)0'4+, 14*%*/'&+, /&, X/YU
5/7/*#3, $'A#-, $#8#$+, '6, 1#$%&/&, *5%& ?5#, 5).'./01#&*%*/'&, .5#&'*).#, '6 9*5#, #&3'*5#$/&2C, 0#&#>!B!V!BC, '-, X/YFP
('&*-'$, 1#$%&'()*#+@, A5/(5, +400#+*+ ORM, /+, 8%-/%7$#, %&3, (%&, 7#, \4/*#, 1/$3; 9*5#,#&3'*5#$/&,K,-#(#.*'-,0#&#>!BG,'-,5#*2
*5%*,*5#,*-%6E(F/&0,3#6#(*,/&,*)-'+/&%+#@ ?5#, 5%/-, /+, $/05*, 7-'A&, *', 7$'&3, %&3 #-'Y)0'4+, 14*%*/'&+, /&, 60W89;!BU, a&
%&3, .#-5%.+,%$+', ?q_D!@, /+, -#+.'&+/7$# ('11'&$), 5%+, %, +/$8#-), '-, 1#*%$$/( *5#, '*5#-, 5%&3@, IMB, %..#%-+, *', %-/+#
6'-,*5#,./01#&*%-),3/$4*/'&,'7+#-8#3,/& +5##&;!=X, ]-/+, ./01#&*, /+, .-#+#&*@, %&3 1'-#, 5#*#-'0#&#'4+$)@, 7#(%4+#, %, 14*%2
*5#+#,.%*/#&*+; &)+*%014+, %&3, .5'*'.5'7/%, 1%), 7# */'&, /&, !CDE, 5%+, 7##&, +5'A&, /&, '&$), %
.-#+#&*, '-, %7+#&*;, R/+*'$'0/(, +*43/#+, '6 +1%$$, 6-%(*/'&, '6, IMB, .%*/#&*+;!!<@!!b, ]&
685JA9SS5*JIGB8U,9 S-/+(#$$/, +)&3-'1# *5#,#)#,/&,ORM,5%8#,+5'A&,-#34(#3,/-/+ %33/*/'&,*',!CDE@ 6VZO[6Y2C=@,%&'*5#-
/+,3/+(4++#3,/&,O5%.;,<C; ./01#&*@, %, 1%-F#3, -#34(*/'&, /&, -#*/&%$ *-%&+(-/.*/'&,6%(*'-,0#&#@,A%+,6'4&3,*',7#
./01#&*,0-%&4$#+@,%&3,/&E$*-%*/'&,'6,*5# 14*%*#3, /&, *A', 4&-#$%*#3, /&3/8/34%$+
AX_B5=^<X56=JX5*JIGB8U,9 ORM,9a"]" (5'-'/3,A/*5,-#*/(4$'#&3'*5#$/%$,(#$$+;!=e A/*5,IMB;!BX
sB!GU==>,/+,%,-%-#,%4*'+'1%$,-#(#++/8# O4*%&#'4+, 5).'./01#&*%*/'&, /+, .-'7%2
3/+'-3#-,(5%-%(*#-/Y#3,7),+#8#-#,/1142 7$),%,('&+#\4#&(#,'6,7'*5,*5#,0/%&*@,5)2 F((#/)'CG#H0>"'/#$4)0!"<)05* ]&3/8/342
&'$'0/(,3#6#(*+@,5).'./01#&*%*/'&@ .'./01#&*#3, 1#$%&'+'1#+, ($4+*#-#3 %$+,A/*5,IM!,9a"]",s!eCU==>,%-#,4+42
7$##3/&0,*#&3#&()@,.-'0-#++/8#,-'2 %-'4&3,*5#,&4($#4+,A/*5/&,ORM,1#$%&'2 %$$),5#*#-'Y)0'4+, 6'-,14*%*/'&+,/&
$'0/(,3)+64&(*/'&@,%&3,*5#,.-#+#&(#,'6 ()*#+, %&3, *5#/-, /&%7/$/*), *', 7#, *-%&+2 12WUN,5#&(#@,IM!,/+,%4*'+'1%$,3'1/2
F#?
M#&+'-/-%$,3#%6&#++@,'7+#-8#3,A/*5,/&2 &'*)./(, .#&#*-%&(#, 7#*A##&, IMB, %&3
('1.$#*#,.#&#*-%&(#,/&,IM!@,-#+4$*+,6-'1 IM!^, ('&0#&/*%$, +#&+'-/-%$, 5#%-/&0
*5#,8%-/%7$#,6%/$4-#,'6,1#$%&'7$%+*+,*',1/2 $'++, '((4--#3, /&, <<, .#-(#&*, %&3, U<, .#-2
0-%*#,*','-,*',+4-8/8#,/&,*5#,+*-/%,8%+(4$%-/+ (#&*@,-#+.#(*/8#$)N,5#*#-'(5-'1/%,/-/3#+,/&
/&,*5#,$%*#-%$,A%$$,'6,*5#,('(5$#%;!CB@!CC Gb, .#-(#&*, %&3, B<, .#-(#&*@, -#+.#(*/8#$)N
5).'.$%+*/(,7$4#,#)#,/&,e,.#-(#&*,%&3,!<
F((#/)'CG#H0>"'/#$4)0!"<)0@0* c/&F%0# .#-(#&*@,-#+.#(*/8#$)N,A5/*#,6'-#$'(F,/&,e
%&%$)+/+,'6,6%1/$/#+,A/*5,IMB,9a"]" .#-(#&*, %&3, !<, .#-(#&*@, -#+.#(*/8#$)N
s!eCU!=@,X=bbe=@,X==!eC@,X=XXXB>,/3#&2 #%-$), 0-%)/&0, /&, BC, .#-(#&*, %&3, BX, .#-2
*/E#3,*5#,!CDE,$'(4+,%+,%,(%&3/3%*#,$'(4+ (#&*@,-#+.#(*/8#$)N,%&3,A5/*#,+F/&,.%*(5#+
6'-,*5#,3/+#%+#,0#&#;,Z*,$#%+*,&/&#,3/66#-2 /&,X,.#-(#&*,%&3,C!,.#-(#&*@,-#+.#(*/8#$);
#&*,14*%*/'&+,5%8#,7##&,6'4&3,/&,*5# ?5#, 5/05#-, /&(/3#&(#, '6, 5#%-/&0, $'++, /&
('3/&0,-#0/'&,'6,*5#,!CDE,0#&#,/&,IMB IMB,1%),7#,34#,*',*5#,3/6E(4$*),'6,3/%02
6%1/$/#+; !!<@!CG ,R'A#8#-@,!CDE,14*%2 &'+/&0,IMB,/&,/&3/8/34%$+,A/*5'4*,5#%-2
*/'&+,%(('4&*,6'-,'&$),%,1/&'-,.'-*/'& /&0, $'++;, ?5#, 5#%-/&0, $'++, /+, ('&0#&/*%$@
456789*:#<F 1:A=48A'W=AB'F::;@48K7;9'H>85 9!U,.#-(#&*>,'6,IMB,(%+#+;,Z,14*%*/'&,/& +#&+'-/-%$@,%&3,&'&.-'0-#++/8#@,+5'A2
@;6N4'A>?4'XO',6A4'?6I=6H=H'\WB=A4'M6;4I6G<]':8@ *5#,*-%&+(-/.*/'&,6%(*'-,0#&#,Mc[ST /&0,1%-F#3,8%-/%*/'&,7#*A##&,%&3,A/*5/&
@>HA6?=:' G:8AB6;7N' \I:A4;:I' @=H?I:G4N48A' 6M' AB4 MfZ!B,5%+,%$+',7##&,%++'(/%*#3,A/*5 6%1/$/#+;,Z1'&0,%,+#-/#+,'6,b!,IMB,(%+#+
N4@=:I'G:8AB='6M'AB4'4>4H]O IMB@,74*,14*%*/'&+,/&,'*5#-@,%+,)#*,4&2 +*43/#3,7),*5#+#,/&8#+*/0%*'-+@,bG,.#-(#&*
3#E,0#&#+,%-#,$/F#$),*',7#,/1.$/(%*#3 '6,.%*/#&*+,-#.'-*#3,7/$%*#-%$,5#%-/&0,$'++N
&%&*,/&,/&5#-/*%&(#;,Z$*5'405,1%&),3/62 /&,*5#,64*4-#;IMB,/+,/&5#-/*#3,/&,%&,%4*'2 G=, .#-(#&*, '6, .%*/#&*+, &'*#3, .-'6'4&3
6#-#&*,14*%*/'&+,/&,12WU,5%8#,7##&,%+2 +'1%$,3'1/&%&*,.%**#-&;,K#(%4+#,1'+* $'++@,A5#*5#-,4&/$%*#-%$,'-,7/$%*#-%$;!Bb
+'(/%*#3,A/*5,IM!@,*5#+#,14*%*/'&+,%-# '6,*5#,F&'A&,"]?:,14*%*/'&+,/&,IMB
*5'405*,#/*5#-,*',7#,64&(*/'&%$$),&4$$,%$2 ('1.-'1/+#,*5#,RcRu/.,-#0/'&@,*5#-#7) F((#/)'CG#H0>"'/#$4)0!"<)0I* 000I M C
$#$#+,'-,*',%7-'0%*#,*5#,/&*#-%(*/'&+,'6 /&*#-6#-/&0,A/*5,3/1#-/Y%*/'&,'6,14*%&* 9a"]",s!GbbB=>@,%$+',F&'A&,%+,@%",'B
DZmC,A/*5,`fZ;!B< "]?:,A/*5,A/$32*).#,"]?:@!CU,*5#,./02 \&&+;"'L5+-4)*';+($"@,/+,-#0%-3#3,%+,%
]&3/8/34%$+, A/*5, IM!, 5%8#, ./01#&2 1#&*%-),3#8#$'.1#&*%$,.%*5'$'0),/& 8%-/%&*,'6,IM!;,"'+*,%66#(*#3,.#-+'&+,%-#