p JfYZf^b\ ^b[cfaVh^cb p Fbdih fVb\Z [cf h]Z gZbgcf p AiV` KFA Xcbhfc` [ibXh^cb

KY`YWhUV`Y hYadYfUhifY KY`YWhUV`Y hYadYfUhifY O\Yb Wcbhfc`]b[ hYadYfUhifY| hkc hmdYg cZ Wcbhfc` W\UfUWhYf]gh]W UfY UjU]`UV`Y
OSI 7 E 4 7 M Bbdih gYbgcf =]gd`Um
OBHKBM>OPMB @JIOMJGGBM ~ * + , - . Dy<:zA
fUb[Y r
},++ hc ,.++r
fUb[Y x
},/3 hc -.2-x
Ug VY`ck~ HbY ]g k\Yb mci bYYX hc a]b]a]nY h\Y h]aY k\]W\ IN fYUW\Yg
hc KN Ug `]_Yy=fUk]b[ ,z~ L\Y ch\Yf ]g k\Yb mci bYYX hc a]b]a]nY cjYfg\cch
NOKGI MHLJHM ~ BhYa LRG LYadYfUhifY IB= Dy<:zE
CyB<zA
},++~+ hc 444~4r
+ hc 3++r
L\]g acXY WUb bch igY Ug x
.- hc ,/2-x
YjYb h\ci[\ h\Y fYUW\]b[yIN hc KNz ]g g`cky=fUk]b[ -z~
y=fUk]b[ ,zIB=? K
* =][]h / / =][]h CyB<zE +~+ hc 3++~+r L\]g acXY WUb bch igY Ug x
H > I P > G + K]nY A =BG O/3qA41aa JyIJz + hc ,2++r .- hc .+4-x
KN
IN
+ hc 3++r .- hc ,/2-x
sh 5JYUW\]b[ h]aY
>y<JzA
, >jYbh , cihdih K 5HjYfg\cch
>y<JzE +~+ hc 3++~+r L\]g acXY WUb bch igY Ug x
KN5KYh jU`iY
- >jYbh ,{>jYbh - cihdih Ly<<zA }-++ hc /++r }.-3 hc 20-x h IN5IfcWYgg]b[ jU`iY
J >jYbh ,{JYhfUbga]gg]cb cihdihyIN5/}-+a:=<z Ly<<zE },44~4 hc /++~+r L\]g acXY WUb bch igY Ug x
, KiV cihdih
: >jYbh ,{>jYbh -{JYhfUbga]gg]cb cihdihyIN5=</}-+a:z KyIJz + hc ,2++r .- hc .+4-x
y=fUk]b[ -zIB=K KN
GyGGz + hc ,.++r .- hc -.2-x IN
; >jYbh ,{>jYbh -{JK/30 Wcaaib]WUh]cb ZibWh]cb
OyLLz + hc -.++r .- hc /,2-x
L >jYbh ,{JK/30 Wcaaib]WUh]cb cihdih sh 5JYUW\]b[ h]aY
CIhA + hc 0++r .- hc 4.-x KN5KYh jU`iY
- IckYf gidd`m / ,++}-/+N:< 0+*1+An CIhE },44~4 hc ,44~4r },44~4 hc .4-~+x h IN5IfcWYgg]b[ jU`iY
=IhA + hc 0++r .- hc 4.-x
J JY`Um cihdih
=IhE },44~4 hc ,44~4r },44~4 hc .4-~+x AL\YfY UfY \][\}gdYYX fYgdcbgY hmdY UbX `ck}gdYYX fYgdcbgY hmdY
. <cbhfc` cihdih K KKJ cihdih +},+N=< },444 hc 4444r },444 hc 4444x Vi]`h ]b h\]g ib]h~ L\YfYZcfY igYf WUb gY`YWh YUW\ ZibWh]cb UWWcfX]b[ hc
< <iffYbh cihdihy/}-+a:=<z ,}0N=< },444 hc 4444r },444 hc 4444x h\Y]f Udd`]WUh]cb~
L\Ub_ mci jYfm aiW\ Zcf gY`YWh]b[ :ihcb]Wg dfcXiWhg~ s:`` acXY`g \Ug >N}, cihdih~ /}-+a:=< },444 hc 4444r },444 hc 4444x AQci WUb gY`YWh XiU` IB= Wcbhfc` ZibWh]cb ]b gYWcbX gYhh]b[ [fcid~
Ccf mcif gV[Zhm/ d`ZVgZ fZVY h]Z [c``ck^b\ WZ[cfZ ig^b\1 Bh ]g gY`YWhUV`Y IB=? cf IB=K ]b IB=h acXY~
p NdZX^[^XVh^cbg p >ihchib^b\ cdZfVh^cb AIB=?yA][\}gdYYX fYgdcbgY hmdYz 5 L\]g acXY ]g Udd`]YX hc aUW\]bYg cf
p @Vih^cb [cf mcif gV[Zhm KYf]Yg LRG/A gmghYag k\]W\ fYei]fY \][\}gdYYX fYgdcbgY~
IB= :ihchib]b[ ZibWh]cb UihcaUh]WU``m aYUgifYg h\YfaU` W\UfUWhYf]gh]Wg
sI`YUgY _YYd h\YgY ]bghfiWh]cbg UbX fYj]Yk h\Ya VYZcfY ig]b[ h\]g ib]h~ IckYf gidd`m ,++}-/+N:< 0+*1+An UbX fYgdcbgY cZ h\Y Wcbhfc` gmghYa UbX h\Yb YlYWihYg ]hg jU`iY ibXYf \][\ >lzFUW\]bYg k\]W\ aigh VY Udd`]YX dfY`]a]bUfm \YUh VYZcfY ]h cdYfUhYg
sI`YUgY cVgYfjY h\Y WUih]cbg h\Uh Zc``ck6 :``ckUV`Y jc`hU[Y fUb[Y 4+ hc ,,+v cZ fUhYX jc`hU[Y fYgdcbgY w ghUV]`]hm UZhYf WU`Wi`Uh]b[ h\Y h]aY WcbghUbh cZ IB= fYei]fYX hc sBb^YWh]cb aUW\]bY| Ub Y`YWhf]W ZifbUWY| YhW~
IckYf Wcbgiadh]cb :ddfcl~ 1N: AIB=KyEck}gdYYX fYgdcbgY hmdYz 5 L\]g acXY ]g Udd`]YX Uh h\Y aUW\]bY
+ RVfb^b\ KYf]cig ]b^ifm aUm fYgi`h ]Z ]bghfiWh]cbg UfY bch Zc``ckYX~ Wcbhfc` cdh]aia hYadYfUhifY~
2KY[aYbh E>= X]gd`Um k\]W\ fYei]fYg `]hh`Y cjYfg\cch~
IfcXiWh aUm VY XUaU[YX| cf ]b^ifm aUm fYgi`h ]Z ]bghfiWh]cbg UfY bch =]gd`Um aYh\cX
SIfcWYgg]b[ jU`iYyINz5JYX| KYhh]b[ jU`iYyKNz5@fYYbT
A>lYWihY h\Y :ihchib]b[ ZibWh]cb Uh ]b]h]U` h]aY UZhYf WcbbYWh]b[ h\Y
+ @Vih^cb Zc``ckYX~ Wcbhfc``Yf w h\Y gYbgcf~ >lz;YWUigY U Z]fY WUb VY cWWif Vm cjYfg\cch cZ h\Y hYadYfUhifY~
L\YfacWcid`Y5Dy<:z| CyB<z| JyIJz| >y<Jz| Ly<<z| KyIIz| GyGGz|
sL\Y Zc``ck]b[ ]g Ub Yld`UbUh]cb cZ h\Y gmaVc`g igYX ]b h\Y cdYfUh]cb aUbiU`~ OyLLzyLc`YfUbWY `]bY fYg]ghUbWY ]g aUl~ ,++}z A>lYWih]cb cZ :ihchib]b[ ]g ghUfhYX k\Yb dfYgg]b[ :L _Ym Zcf .gYW~ cf acfY~ sI`Uh]b[ aUW\]bY hc Wcbhfc` hYadYfUhifY| c]`]b[ gmghYa hc Wcbhfc` hYadYfUhifY
+ WUih]cb5Bb^ifm cf XUb[Yf aUm cWWif ibXYf gdYW]U` WcbX]h]cbg~
Bbdih gYbgcf JL=5=BG Ih,++}| CBK Ih,++}| . k]fYg hmdY AO\Yb h\Y :ihchib]b[ ]g ghUfhYX| :L `Uad k]`` Z`]W_Yf| UbX k\Yb h\Y `Uad cZ c]`| YhW~
yLc`YfUbWY cZ `]bY fYg]ghUbWY ]g aUl~ 0} dYf U k]fYz ]g H??| h\]g cdYfUh]cb k]`` ghcd~ A?UWhcfm gdYW]Z]WUh]cb ]g IB=? ]b LRG gYf]Yg~
Nc`hU[Y5,}0N=<| +},+N=<| <iffYbh5/}-+a:=<
+ RVfb^b\ HG*H?? <cbhfc`
AO\]`Y h\Y :ihchib]b[ ZibWh]cb ]g YlYWih]b[| ]h ]g ghcddYX Vm dfYgg]b[ :L :WWcfX]b[ hc Wcbhfc` gmghYa| d`YUgY gY`YWh acXY~
<cbhfc` aYh\cX _Ym Zcf 0gYW~ cf acfY~
41 Fb XVgZ c[ ig^b\ h]^g ib^h k^h] aVX]^bZf^Zg-IiX`ZVf dckZf Xcbhfc`/ I| IB| I=| IB=?| IB=K
aZY^XV` Zei^daZbh/ jZ]^X`Z/ hfV^b/ V^fd`VbZ/ XcaWigh^cb VddVfVhig/ JY`Um WcbhUWh cihdih5-0+N:< .: ,W
AO\Yb h\Y dckYf hifbg cZZ cf h\Y ghcd g][bU` ]g Udd`]YX k\]`Y :ihchib]b[ p HVbiV` fZgZh
ZbhZfhV^baZbh cf gV[Zhm YZj^XZ ZhX./ ^h fZei^fZg ^bghV``^b\ [V^`0gV[Z
ZibWh]cb ]g YlYWih]b[| h]aY WcbghUbh cZ IB= ]g bch W\Ub[YX UbX ]h fYaYaVYfg
<cbhfc` cihdih KKJ cihdih5,-N=< p.N FUl~ .+a: Ifcdcfh]cbU` Wcbhfc` \Ug XYj]Uh]cb VYWUigY f]g]b[ h]aY ]g bch gUaY Ug
YZj^XZ/ cf XcbhVXh ig [cf ^b[cfaVh^cb cb hmdZ fZei^fZY1 <iffYbh cihdih5/}-+a:=<yEcUX fYg]ghUbWY5FUl~ 1++}z
h\Y jU`iY VYZcfY dckYf hifbg cZZ~
AL]aY WcbghUbh cZ IB= gY`YWhYX Vm :ihchib]b[ ZibWh]cb WUb VY W\Ub[YX ]b ZU``]b[ h]aY| YjYb ]Z h\Y ib]h cdYfUhYg bcfaU``m~
Bh aUm fYgi`h ]b gYf]cig XUaU[Y| Z]fY cf \iaUb ]b^ifm~ JYhfUbga]gg]cb cihdih IN fYhfUbga]gg]cb5/}-+a:=<yEcUX fYg]ghUbWY5FUl~ 1++}z
Z]fgh gYhh]b[ [fcid~ AFUbiU` fYgYh ZibWh]cb ]g igYX Uh dfcdcfh]cbU` Wcbhfc`yIz acXY cb`m~
51 O]^g ib^h aigh WZ acibhZY cb dVbZ`1 <caaib]WUh]cb ZibWh]cb IN fYhfUbga]gg]cb| KN gYhh]b[
ABh \Ug hkc _]bXg cZ :ihchib]b[ acXY~ ABZ gYh ZibWh]cb ]b Z]fgh gYhh]b[ [fcid| h\Y aUbiU` fYgYh k]`` fib~
Bh aUm []jY Ub Y`YWhf]W g\cW_~ KiV cihdih >jYbh ,| - cihdih5JY`Um WcbhUWh cihdih -0+N:< ,: ,U
61 Ac bch XcbbZXh hZfa^bV`g k]Zb ^h ^g dckZf cb1 =]gd`Um UWWifUWm p+~.v VUgYX cb ?PK cf .r FUl~ A:ihchib]b[ cdYfUh]cb ]g YlYWihYX Uh gYhh]b[ jU`iYyKNz ]b Lib, acXY AO\Yb IN UbX KN ]g YeiU`| JYgYh jU`iY ]g 0+v UbX k\Yb Wcbhfc` ]g
Bh aUm []jY Ub Y`YWhf]W g\cW_~ KYhh]b[ hmdY KYhh]b[ Vm Zfcbh dig\ Vihhcbg k\]W\ ]g ZUWhcfm XYZUi`h~ ghUV`Y| ]Z h\Y hYadYfUhifY ]g `ckYf h\Ub KN| fYgYh jU`iY g\ci`X VY \][\Yf
71 K`ZVgZ X]ZX_ h]Z biaWZf c[ hZfa^bV` k]Zb XcbbZXh dckZf `^bZ cf AmghYfYg]g :X^ighUV`Y , hc ,++y+~, hc ,++~+zr Uh HG*H?? Wcbhfc` A:ihchib]b[ cdYfUh]cb ]g YlYWihYX Uh 2+v cZ gYhh]b[ jU`iYyKNz~ UbX cb h\Y ch\Yf \UbX| fYgYh jU`iY g\ci`X VY gaU``Yf~
aZVgif^b\ ^bdih1
:`Ufa cihdih
KYh ]bhYfjU` VYhkYYb HG UbX H?? Zcf U`Ufa cihdih Zfca AFcXY W\Ub[Y ]g UjU]`UV`Y ]b gYWcbX gYhh]b[ [fcid~ A gYhh]b[ aYh\cX UWWcfX]b[ hc fYgi`h cZ Wcbhfc`
Bh aUm WUigY U Z]fY~ , hc ,++ry=YW]aU` hmdY 5 +~, hc ,++~+rz
A>lYWihY h\Y :ihchib]b[ ZibWh]cb U[U]b dYf]cX]WU``m| VYWUigY h\Y h\YfaU`
81 Ac bch fZdV^f cf X]ZX_id k]Zb dckZf cb1 Ifcdcfh]cbU` VUbXyIz +~+ hc ,++~+v FU_Y JYgYh jU`iY gaU``Yf
W\UfUWhYf]gh]Wg Zcf h\Y Wcbhfc` cV^YWh WUb VY W\Ub[YX k\Yb h\Y Wcbhfc``Yf KYhh]b[
Bh aUm []jY Ub Y`YWhf]W g\cW_~ BbhY[fU` h]aYyBz + hc .1++gYW~
=Yf]jUh]jY h]aYy=z + hc .1++gYW~
]g igYX Wcbh]bicig`m Zcf U `cb[ h]aY~ jU`iY
yKNz
+ @Vih^cb <cbhfc` h]aYyLz , hc ,-+gYW~ yhib , acXYz r :ihchib]b[ h]aY FU_Y JYgYh jU`iY V][[Yf
KUad`]b[ h]aY +~0gYW~
41 O]^g ib^h g]V`` bch WZ igZY cihYccfg1
E;: gYhh]b[ h]aY , hc 444gYW~
Bh a][\h g\cfhYb h\Y `]ZY WmW`Y cZ h\Y dfcXiWh cf []jY Ub Y`YWhf]W g\cW_~ KN IfcWYgg]b[ jU`iYyINz
JUad gYhh]b[ h]aY JUad id| JUad Xckb Uh , hc 44 a]bihY
51 R]Zb k^fZ XcbbZXh^cb/ Ic1 53>RD-318aa/. g]ci`Y WZ igZY VbY
=]Y`YWhf]W ghfYb[h\ -+++N:< Zcf , a]bihY
gXfZk Wc`h cb hZfa^bV` W`cX_ k^h] 31:7IPa hc 31<3IPa ghfZb\h]1
+~20aa Uad`]hiXY Uh ZfYeiYbWm cZ ,+ hc 00An
Bh aUm fYgi`h ]b aU`ZibWh]cb cf Z]fY XiY hc WcbhUWh ZU]`ifY~ FYW\Ub]WU`
61 K`ZVgZ cWgZfjZ gdZX^[^XVh^cb fVh^b\1 N]VfUh]cb
]b YUW\ cZ P| Q| R X]fYWh]cbg Zcf - \cifg
+~0aa Uad`]hiXY Uh ZfYeiYbWm cZ ,+ hc 00An
L]aYyhz p @cbhfc` cihdih
Bh a][\h g\cfhYb h\Y `]ZY WmW`Y cZ h\Y dfcXiWh UbX WUigY U Z]fY~ FU`ZibWh]cb
]b YUW\ cZ P| Q| R X]fYWh]cbg Zcf ,+ a]bihYg L\YfY UfY . _]bXg cZ aU]b cihdih ]b h\]g ib]h| giW\ Ug fY`Um cihdih| KKJ
71 Ac bch igZ h]Z `cVY WZmcbY fVhZY gk^hX]^b\ XVdVX^hm c[ MZ`Vm XcbhVXh1 FYW\Ub]WU` 5 F]b~,+|+++|+++ h]aYg yhib - acXYz r :ihchib]b[ h]aY
FU]b cihdih cihdih| WiffYbhy/}-+a:=<z| Vih h\]g ib]h \Ug cbY aU]b cihdih cb`m~
Bh aUm WUigY ]bgi`Uh]cb ZU]`ifY| WcbhUWh aY`h| WcbhUWh ZU]`ifY| fY`Um Vfc_Yb JY`Um >`YWhf]WU` 5 F]b~,++|+++ h]aYgy-0+N:< .: fYg]gh]jY `cUXz
KN L\YfYZcfY d`YUgY gY`YWh cbY aU]b cihdih ]b cfXYf]b[ ]bZcfaUh]cb UWWcfX]b[
Z]fY YhW~ `]ZY WmW`Y
KiV cihdih
FYW\Ub]WU` 5 F]b~-+|+++|+++ h]aYg
>`YWhf]WU` 5 F]b~0++|+++ h]aYgy-0+N:< ,: fYg]gh]jY `cUXz hc mcif Udd`]WUh]cb~
81 Fb X`ZVb^b\ h]Z ib^h/ Yc bch igZ kVhZf cf Vb c^`0WVgZY YZhZf\Zbh1
Bh a][\h WUigY Ub Y`YWhf]W g\cW_ cf Z]fY h\Uh k]`` fYgi`h ]b XUaU[Y hc h\Y dfcXiWh~ Bbgi`Uh]cb fYg]ghUbWY F]b~ ,++F}yUh 0++N=<z AJY`Um cihdih fUhYX -0+N:< .: ]g ]bX]WUhYX Ug uJu
91 Ac bch ^b[`ck Yigh cf k^fZ YfZ\g ^bhc ^bg^YZ c[ h]^g ib^h1 Gc]gY ghfYb[h\ p-_N J I\UgY w K I\UgY ,{ AKKJ cihdih fUhYX ,-N=< p.N ]g ]bX]WUhYX uKu| h\Y `cUX cZ cjYf .+a:=<
2+v
Bh aUm WUigY U Z]fY cf aYW\Ub]WU` hfciV`Y~ FYacfm fYhYbh]cb ,+ mYUfg
L]aYyhz WUb bch igY~
:1 Ac bch igZ h]^g ib^h Vh d`VXZ k]ZfZ h]ZfZ VfZ [`VaaVW`Z cf Zld`cg^jZ :aV]Ybh hYadYfUhifY },+ hc 0+ryUh bcb}ZfYYn]b[ ghUhigz A<iffYbh cihdih fUhYX /}-+a:=< ]g ]bX]WUhYX Ug u<u| fYg]gh]jY `cUX WUb
\Vg/ ]ia^Y^hm/ Y^fZXh fVm c[ h]Z gib/ fVY^Vbh ]ZVh/ j^WfVh^cb/ ^adVXh ZhX1 KhcfU[Y hYadYfUhifY }-+ hc 1+ryUh bcb}ZfYYn]b[ ghUhigz VY igYX ibXYf 1++}~
Bh aUm WUigY U Z]fY cf Yld`cg]cb~ :aV]Ybh \ia]X]hm .0 hc 30v JA
:ddfcl~ -04[
p JI2JCC Xcbhfc` yGchYz/}-+a:=< WiffYbh cihdih ]g X]ZZYfYbh Zfca /}-+a:=< fYhfUbga]gg]cb
;1 K`ZVgZ X]ZX_ h]Z dc`Vf^hm c[ dckZf WZ[cfZ XcbbZXh^b\ h]ZfacXcid`Z OY][\h
cihdih~
gZbgcf1 HG*H?? Wcbhfc` ]g WU``YX hkc dcg]h]cb Wcbhfc` VYWUigY h\Y cihdih hifbg
cb k\Yb IN ZU``g `ckYf h\Ub KN UbX h\Y cihdih hifbg cZZ k\Yb IN ]g \][\Yf
Bh aUm WUigY U Z]fY cf Yld`cg]cb~
p NZ`ZXh^cb gk^hX] [cf Fbdih gZbgcf2 h\Ub KN~ L\]g Wcbhfc` aYh\cX ]g bch cb`m Zcf Wcbhfc``]b[ hYadYfUhifY| Vih p MZ`Vm cihdih
p Cfcbh dVbZ` ^YZbh^[^XVh^cb Qc`hV\Z2@iffZbh U`gc ]h ]g VUg]W Wcbhfc` aYh\cX Zcf gYeiYbWY Wcbhfc`~ JY`Um cihdih ]g ZibWh]cb Zcf cihdihh]b[ HG*H?? Zcf aU]b Wcbhfc` Vm ig]b[
sI`YUgY gY`YWh h\Y K*O cZ h\]g ib]h Vm gYbgcfg~ ABZ mci gYh I jU`iY Ug u+~+u ]b Z]fgh gYhh]b[ [fcid| HG*H?? Wcbhfc` k]`` cdYfUhY~ fY`Um WcbhUWh~ Bh fYdYUhg HG*H?? h\Y `cUX ]b cfXYf hc \YUh cf Wcc` Wcbh]bicig`m|
>69<6=3>?=6 4;:>=;886=
S IN 5 =]gd`Um IfcWYgg]b[ jU`iYyJYXz AL\YfY ]g U dfc[fUaaUV`Y hYadYfUhifY X]ZZYfYbWY VYhkYYb HG UbX H?? ]b
KQ n :zBb WUgY cZ h\YfacWcid`Y ]bdih7Dy<:z| CyB<z| JyIJz| >y<Jz| Ly<<z| KyIJz| GyGGz| OyLLz8 ]b h\]g WUgY| Xf]j]b[ aU[bYh K*O cf dckYf fY`UmyV][ WUdUW]hmz k]h\ ig]b[
T KN 5 =]gd`Um KYhh]b[ jU`iYy@fYYbz Bb WUgY cZ JL= ]bdih7=IhE| =IhA| CIhE| CIhA8 HG*H?? Wcbhfc`yAmghYfYg]g k]Xh\z| ]Z X]ZZYfYbWY ]g hcc gaU``| h\Yb \ibh]b[ fY`Um WcbhUWh cZ h\]g ib]h~
S U KN- 5 BbX]WUhY KN- cdYfUh]cb K*O, K*O- yW\UhhYf]b[z WUb cWWif~ LYadYfUhifY X]ZZYfYbWY WUb VY gYh ]b dcg]h]cb A=c bch YlWYgg WcbhUWh WUdUW]hm cZ fY`Um hc UX^igh ]b ib]h gdYW]Z]WUh]cb|
V :L DYm 5 BbX]WUhY :ihchib]b[ K*O, 5 , cZ Z]fgh gYhh]b[ [fcid~ KYhh]b[ fUb[Y ]g , hc ,++rycf +~, hc ,++~+rz~ k\Yb igY fY`Um WcbhUWh cihdih~ BZ fY`Um ]g XUaU[YX| ]h aUm WUigY U Z]fY~
NQ
: N K*O- 5 N A ]g X]gd`UmYX k\Yb I jU`iY ]g u+u| Vih k]`` bch VY X]gd`UmYX| ]Z I
cdYfUh]cb , ,
AO\Yb ]h Wcbhfc`g aU]b fY`Um cf aU[bYh gk]hW\ k]h\ dckYf fY`Um WcbhUWh| ]Z
T ;zBb WUgY cZ jc`hU[Y ]bdih7,}0N=<| +},+N=<8 jU`iY ]g bch u+u~
W F= DYm 5 FcXY _Ym Z`ck fYjYfgY Y`YWhfcach]jY ZcfWY Zfca Wc]` cZ dckYf fY`Um cf aU[bYh K*O
K*O, K*O- AL\]g HG*H?? Wcbhfc` g\ci`X bch VY Udd`]YX k\Yb Yei]daYbhy<cc`]b[
R X :L DYm 5 :ihchib]b[ fib _Ym ]bhc h\]g ib]h| ]h aUm fYgi`h ]b dfcXiWhg XUaU[YX cf cihdih cgW]``UhYX~
K*O, 5 -
U WcadfYggcfz hc VY Wcbhfc``YX WUb VY XUaU[YX Vm ZfYeiYbh HG UbX H??~
NQ5 >O JPO BQ4 BQ5

[ Y z w v 5 KYhh]b[ _Ymg K*O- 5 N AE]ZY WmW`Y cZ fY`UmyY`YWhf]WU`*aYW\Ub]WU`z ]g ]bX]WUhYX ]b gdYW]Z]WUh]cb~

V - - : N A>jYb ]Z HG*H?? Wcbhfc` ]g ghUV`Y ghUhig| h\Y \ibh]b[ WUb VY cWWiffYX Vm
95 3>
Z Z HML 5 BbX]WUhY cihdih I`YUgY XYg][b h\Y gmghYa UZhYf W\YW_]b[ h\Y `]ZY WmW`Y cZ fY`Um~
W <zBb WUgY cZ WiffYbh ]bdih7/}-+a:=<8 gYhh]b[ jU`iY ]b cf WUdUW]hm cZ h\Y \YUhYf cf fYgdcbgY W\UfUWhYf]gh]W
Y [ >N, 5 BbX]WUhY >N>GL , cihdih K*O- BZ gYh uhu `cb[Yf ]b Z]fgh gYhh]b[ [fcid| h\Y `]ZY WmW`Y cZ fY`Um ]g [Yhh]b[ `ckYf~
K*O, cZ h\Y Yei]daYbh hc VY Wcbhfc``YX cf ]bghU``]b[ dcg]h]cb cZ h\Y gYbgcf~
X R >N- 5 BbX]WUhY >N>GL - cihdih K*O, 5 - BZ ]h bYYXg hc gYh Wcbhfc` dYf]cX uhu g\cfhYf XiY hc h\YfaU` fYgdcbgY ]g ZUgh|
>@:27
K*O- 5 : I`YUgY Wcbg]XYf UVcjY dc]bhg hc a]b]a]nY h\Y \ibh]b[ k\Yb XYg][b]b[
- - : N h\Y gmghYa~ KKJ cihdih hmdY g\ci`X VY igYX~ K04
oO]Z VWcjZ gdZX^[^XVh^cb VfZ X]Vb\ZVW`Z k^h]cih bch^XZ Vbmh^aZ1
p Qc`hV\Z di`gZ cihdih-NNM. p MVad [ibXh^cb p Fbdih XcffZXh^cb-Fb0W. [ibXh^cb p >`Vfa cdh^cb gZhh^b\
Nc`hU[Y di`gY cihdih ]g hc Wcbhfc` KKJ ib]h ]bghU``YX ]b cih cZ h\]g ib]h~ JUad ZibWh]cb ]g hc XY`Um h\Y f]g]b[ h]aY cf ZU``]b[ h]aY cZ hYadYfUhifY~ BZ Bbdih fYj]gY ]g hc WcffYWh XYj]Uh]cb cWWiffYX Zfca hYadYfUhifY gYbgcf giW\ KmaVc` HdYfUh]cb bUaY ?ibWh]cb
mci W\Ub[Y gYhh]b[ jU`iY Uh ghUV`Y ghUhY cZ Wcbhfc`| ]h ZcfWYg hc f]gY cf ZU`` Ug h\YfacWcid`Yg| JL=| :bU`c[iY gYbgcf YhW~
@YbYfU``m h\Y WUdUW]hm cZ fY`Um WcbhUWh ]g `]a]hYX~ BZ h\Y WUdUW]hm cZ fY`Um ]g
h\Y hYadYfUhifY cZ Wcbhfc` gmghYa Xif]b[ gYhh]b[ h]aY Uh f:IM| f:IX ]b Z]fgh BZ mci W\YW_ h\Y XYj]Uh]cb cZ YjYfm h\Yfac gYbgcf dfYW]gY`m| ]h WUb aYUgifY @YbYfU` U`Ufa Gc cdh]cbU` U`Ufa cihdih~
[Yhh]b[ V][[Yf| h\Y `]ZY WmW`Y k]`` VY g\cfhYbYX Vm bc]gY cf gdUf_~
gYhh]b[ [fcid~ F[ f>aK ^g bch JI ^b gZXcbY gZhh^b\ \fcid/ f>Ki/ f>KY hYadYfUhifY UWWifUhY`m~
AKKJ cihdih ]g ,-N=< UbX ]h WUb igY aUl~ .+a: Zcf `cUX~ O\Yb U`Ufa cihdih hifbg cb cbWY|
k^`` bch WZ Y^gd`VmZY ^b [^fgh gZhh^b\ \fcid1 ABbdih fYj]gY WUb VY gYh Uh u?]fgh gYhh]b[ [fcidu~ EUhW\ ZibWh]cb
AJYgdcbgY gdYYX cZ KKJ ]g ZUghYf h\Ub fY`Um WUigY cZ ig]b[ gYa]WcbXiWhcf| AMgY h\]g acXY UZhYf aYUgif]b[ XYj]Uh]cb cWWiffYX Zfca hYadYfUhifY h\Y cihdih k]`` VY HG Wcbh]bcig`m~
ANZh f>aK ^g JI ^b gZXcbY gZhh^b\ \fcid [cf ig^b\ MVad [ibXh^cb1
]h WUb dfcWYYX \][\ gdYYX Wcbhfc`~ gYbgcf YlUWh`m~ ;YWUigY ]Z aYUgifYX XYj]Uh]cb jU`iY ]g bch WcffYWhYX|
AKYh h\Y ZU``]b[ h]aY UbX f]g]b[ h]aY ]b f:IM UbX f:IM acXY cZ Z]fgh KhUbXVm gYeiYbWm Bh XcYgbxh cihdih Uh Z]fgh cdYfUh]cb~
BZ gYh uhu g\cfhYfy, hc -gYW~z| ]h k]`` VY [ccX WcbX]h]cb hc Wcbhfc` h\Y hUf[Yh~ gYhh]b[ [fcid~ X]gd`UmYX hYadYfUhifY aUm VY hcc \][\ cf hcc `ck~ ZibWh]cb yO\Yb ]h fYUW\Yg hc Z]fgh cV^YWh jU`iYz
AJUX]Uh]cb cZ gYa]WcbXiWhcf ]g jYfm ]adcfhUbh ]b KKJ~ AJUad ZibWh]cb k]`` VY cdYfUh]b[ k\Yb W\Ub[]b[ h\Y gYh jU`iY Uh ghUV`Y AKYhh]b[ fUb[Y cZ ]bdih fYj]gY ]g }/4 hc {0+ry}0+~+ hc {0+~+rz~
EUhW\ w Bh cdYfUhYg `UhW\ w
L\YfYZcfY ]h ]g `]_Y`m igY 3+v cZ fUhYX cZ KKJ UbX ]Z KKJ ]g XUaU[YX| ]h Wcbhfc` ghUhig cf gidd`m h\Y dckYf U[U]b UZhYf h\Y dckYf kUg fYacjYX~ AO\Yb mci gYh h\Y ]bdih fYj]gY jU`iY| mci aUm bYYX hc fYWcfX ]h| VYWUigY
KhUbXVm gYeiYbWm ZibWh]cb KhUbXVm gYeiYbWY ZibWh]cb hc[Yh\Yf~
aUm fYgi`h ]b U Z]fY~ ]h k]`` VY igYZi` k\Yb dYfZcfa]b[ aU]bhYbUbWY~
of>KP [ibXh^cb-AZ`Vm c[ f^g^b\ h^aZ.

p @iffZbh cihdih-7053a>A@.
<cbhfc` hYadYfUhifY k\Yb p NiW cihdih-BjZbh. [ibXh^cb p Gccd WfZV_ V`Vfa-G?>.
fUad ZibWh]cb ]g bch igYX KiV cihdih WUb YlYWihY Ug aU]b Wcbhfc` cihdih UbX giV ZibWh]cb Ug kY``~
E;: ZibWh]cb ]g hc X]U[bcgY Ub UVbcfaU` hYadYfUhifY cZ h\Y Wcbhfc` gmghYa~
L\]g cihdih| WU``YX UbU`c[iY cihdih ]g hc Wcbhfc` h\Y hfUbgXiWYfyK<J ib]hz| <\Ub[]b[ KN L\YfY ]g cbY giV cihdih ]b h\]g ib]h~
BZ h\Y hYadYfUhifY cZ h\Y Wcbhfc` gmghYa ]g bch W\Ub[YX k]h\]b p-r Xif]b[
]h WUb dfcWYYX ghUV`Y Wcbhfc` VYWUigY h\YfY ]g bc U giXXYb W\Ub[Y~ AL\]g giV cihdih ]g fY`Um u:u WcbhUWh cihdih~
gYhh]b[ h]aY cZ E;:| h\Y E;: cihdih k]`` VY HG~
Bh cihdihg /}-+a:=<| aUb]di`UhYX jU`iY ]g ,++v Uh -+a:=<| +v Uh /a:=<~ Bb]h]U` KN A, cf - giV acXY WUb VY gY`YWhYX Uacb[ 2 _]bXg cZ U`Ufa acXY cf
E;: cdYfUhYX k\Yb h\Y \YUhYf `]bY ]g Wih| K;: cdYfUhYX k\Yb h\Y gYbgcf >lzO\Yb gYhh]b[ jU`iYyKNz ]g .++r| dfcWYgg]b[ jU`iYyINz ]g 0+r| h\]g ib]h
ABh ]g igYX k]h\ hfUbgXiWYf UbX WUb bch VY igYX Ug h\Y ch\Yf Udd`]WUh]cb~
`]bY ]g Wih~ Wcbhfc`g ,++v~ Bb h\]g h]aY ]Z h\YfY ]g bc W\Ub[Y cZ gmghYa hYadYfUhifY
AL\]g cihdih cdYfUhYg h\fci[\ ]bbYf gYdUfUhYX U WcbghUbh WiffYbh}W]fWi]h~
<cbhfc` hYadYfUhifY k\Yb AL\Y giV cihdih WUb VY `UhW\YX cb cf UihcaUh]WU``m fYgYh XYdYbX]b[ cb ]h fYWc[b]nYg AYUhYf ]g Wih cZZ h\Yb E;: cihdih k]`` VY HG~
L\YfYZcfY WiffYbh cihdih ]g bch W\Ub[YX YjYb ]Z h\Y fYg]gh]jY `cUX ]g WcbbYWhYX
fUad ZibWh]cb ]g igYX h\Y U`Ufa cdh]cb acXY gY`YWhYX~ AE;: cihdih WUb VY gY`YWhYX Uh >N},| >N}- cZ h\Y gYWcbX gYhh]b[ [fcid~
]b cihg]XY| Vih ]Z fYg]gh]jY `cUX ]g hcc \][\ycjYf 1++}z| h\Y WiffYbh WUb VY
AO\Yb h\Y gYbgcf `]bY cf h\Y \YUhYf `]bY ]g Wih| K;: cf E;: cihdih ABZ E;: cihdih ]g bch gY`YWhYX Uh YjYbh cihdih| ]h k]`` bch VY X]gd`UmYX~
W\Ub[YX~ yI`YUgY igY h\Y fYg]gh]jY `cUX `Ygg h\Ub 1++}~z
hi hi hifbg cb~ L\]g ucihdih cbu ghUhig aigh VY fYgYh Vm hifb]b[ h\Y dckYf cZZ~ AKYhh]b[ fUb[Y cZ E;: cihdih ]g , hc 444gYW~
A=c bch igY U WiffYbh cihdih ]b WUgY cZ ig]b[ HG*H?? Wcbhfc`~
AR]Zb ig^b\ >`Vfa cihdih ^h ^g VW`Z hc X]Vb\Z ^bhZfjV` WZhkZZb JI ABZ h\YfaU` fYgdcbgY cZ h\Y Wcbhfc` gmghYa ]g g`ck| E;: jU`iY g\ci`X VY
AO\Yb WiffYbh cihdih ]g igYX| ]h ]g W\Ub[]b[ Ug UbU`c[iY Zcfa| h\Y VbY JCC k^h]^b fVb\Z c[ 4 hc 433n-314 hc 43313n.1
f:IM gYhh]b[ f:IM gYhh]b[ gYh hc U \][\ jU`iY~
aUb]di`UhYX jU`iY WUb fUfY`m VY ,++v cf +v~ h]aY h]aY Bl.R]Zb V`Vfa gZh hZadZfVhifZ ^g 533n/ h]Z cihdih hifbg cb k]Zb AE;: cihdih cb`m cdYfUhYg k\Yb h\Y aUb]di`UhYX jU`iY cZ h\Y Wcbhfc``Yf ]g
L\YfYZcfY E;: ZibWh]cb ]g bch igYX~ KQ ^bXfZVgZg [fca 433n hc 533n1 Fb h]Z XVgZ/ h]Z cihdih hifbg +v UbX ,++v gc| E;: WUbbch VY igYX k\Yb ]h ]g <iffYbh cihdih~
A?fcbh HML `Uad XcYg bch cdYfUhYg ]b WUgY cZ ig]b[ U WiffYbh cihdih~ cb Vh cjZf 533n/ h]Z cihdih hifbg c[[ Vh 4<;n1
Bh aU_Yg XY`Um f]g]b[ hYadYfUhifY k\Yb W\Ub[Y h\Y gYh jU`iY Uh ghUV`Y ABb WUgY h\Y E;: cihdih ]g HG| d`YUgY W\YW_ h\Y Zc``ck]b[ 5
Wcbhfc` ghUhig cf XY`Um h\Y ]b]h]U` f]g]b[ hYadYfUhifY Ug `]_Y UVcjY d]WhifY~ T>WcjZ Bl. ^g h]Vh ^h gZh h]Z ^bhZfjV` WZhkZZb JI VbY JCC Vg 5n1U
~K\cfh}W]fWi]h cf Wihh]b[ cZ h\Y hYad~ gYbgcf~
AKY`YWh ZibWh]cb cZ KiV cihdih ]b gYWcbX gYhh]b[ [fcid UbX gYh jU`iY cZ
p MZhfVbga^gg^cb cihdih-7053a>A@. GchY,zf:Ii h]aY WUbbch VY gYh g\cfhYf h\Ub hYadYfUhifY f]g]b[ h]aYyhiz|
cdYfUh]cb ]b Z]fgh gYhh]b[ [fcid~
*:VbcfaU` WcbX]h]cb cZ h\Y Yei]daYbhy<cbXiWhcf| giV}fY`Um| YhW~z
k\Yb JUad ZibWh]cb ]g bch igYX~ +:VbcfaU` WcbX]h]cb cZ h\Y `cUXyAYUhYf| Wcc`Yfz
JYhfUbga]gg]cb cihdih ]g X]ZZYfYbh k]h\ WiffYbh cihdih cZ Wcbhfc` cihdih
UbX hc fYhfUbga]h WiffYbhy/ hc -+a:=<z WcbjYfh]b[ h\Y aYUgif]b[ hYadYfUhifY of>KY [ibXh^cb-AZ`Vm c[ [V``^b\ h^aZ. p >`Vfa cihdih ,Ofcb[}k]f]b[ cf Wihh]b[ cZ h\Y ch\Yf WUV`Yg~
hc h\Y fYWcfXYf| I<| YhW~ AHbWY E;: ]g HG XiY hc Vfc_Yb gYbgcf| ]h k]`` bch cihdih~
L\]g ib]h \Ug cihdih Zcf Wcbhfc` UbX giVy:`Ufaz cihdih Vm cdh]cb~ yL\]g U`Ufa
<cbhfc` hYadYfUhifY :`h\ci[\ WcbbYWh gYbgcf U[U]b~
;ih h\]g WiffYbh cihdih WUb bch igY Uh cjYf 1++} fYg]gh]jY `cUX~ <cbhfc` hYadYfUhifY k\Yb k\Yb fUad ZibWh]cb cihdih ]g fY`Um cihdih UbX cdYfUhYg fY[UfX`Ygg hc cihdih Zcf Wcbhfc`~z
AFcXY cZ fYhfUbga]gg]cb cihdih ]g gY`YWhYX Uh ?K}A| ?K}E ]b h\Y gYWcbX fUad ZibWh]cb ]g bch igYX ]g igYX A:`Ufa cihdih cdYfUhYg k\Yb h\Y hYadYfUhifY cZ hUf[Yh ]g [Yhh]b[ \][\Yf cf Bb h\]g WUgY| hifb cZZ h\Y dckYf h\Yb hifb cb U[U]b~
Z`ck W\Ufh~ `ckYf h\Ub gYhh]b[ jU`iY~ AL\Y cihdih cZ E;: ZibWh]cb ]g >N}, UbX >N}- cihdih~
Bb]h]U` KN
AO\Yb IN fYUW\ Uh jU`iY cZ ?K}E| ]h cihdih /a:~ A, U`Ufa acXY WUb VY gY`YWhYX Uacb[ 2 _]bXg cZ U`Ufa acXY Uh >N,| ABZ mci igY E;: ZibWh]cb| K;: UbX U`Ufa cdYfUh]cb ZibWh]cb WUbbch VY
AO\Yb IN fYUW\ Uh jU`iY cZ ?K}A| ]h cihdih -+a:~ >N- ]b h\Y gYWcbX gYhh]b[ [fcid~ igYX~
A/ hc -+a:=< ]g XYg][b Ug fYgc`ih]cb cZ a]b~ ,1|+++ X]j]g]cbg~ AI`YUgY bchY VY`ck uHdYfUh]cb W\Ufh Zcf U`Ufa cihdihu w uHdh]cb cZ U`Ufa
<\Ub[]b[ KN
hX
cihdihu fY[UfX hc XYhU]`YX cdYfUh]cb UbX cdh]cbU` cdYfUh]cb~ p NZbgcf WfZV_ V`Vfa-N?>.
p MN7;8 Xcaaib^XVh^cb [ibXh^cb
p JdZfVh^cb X]Vfh [cf V`Vfa cihdih L\]g ZibWh]cb WUigYg h\Y giV cihdih hc hifb cb k\Yb h\Y gYbgcf `]bY ]g Wih
Fh ^g igZY cb h]Z difdcgZ h]Vh hfVbga^hh^b\ KQ hc Vb ZlhZfbV` Zei^daZbh/ f:IX gYhh]b[ cf cdYb~
gZhh^b\ NQ Vh h]Z ZlhZfbV` Zei^daZbh1 h]aY Gc U`Ufa cihdih Bh WUb YUg]`m W\YW_ h\Uh h\Y gYbgcf `]bY ]g Wih cf bch Vm cdYfUh]b[ U VinnYf
AFh XVb WZ gZh Vh Wdg/ >Yfg ^b gZXcbY gZhh^b\ \fcid1 u=Yj]Uh]cb A][\}`]a]h U`Ufa ig]b[ h\Y fY`Um WcbhUWh~
H?? V HG BZ XYj]Uh]cb VYhkYYb IN UbX KN ]g
AWdg gZhh^b\ = 5733/ 7;33/ <933-NhVfh W^h4/ Nhcd W^h4/ Icb dVf^hm. Bh Wcbhfc`g ZU``]b[ hYadYfUhifY Ug UVcjY~ cWWiff]b[ \][\Yf h\Ub XYj]Uh]cb AKYh K;: acXY Uh >N}, cf >N}- acXY ]b gYWcbX gYhh]b[ [fcid~
KN IN
A>Yfg gZhh^b\ = 4 hc << GchY,zf:IX h]aY WUbbch VY g\cfhYf h\Ub ZU``]b[ h]aYyhXz cZ bch VY]b[ fUad ,++r ,,+r
hYadYfUhifY gYhh]b[ jU`iY| h\Y cihdih ABZ ]bhYbX hc igY K;: ZibWh]cb| E;: UbX U`Ufa cdYfUh]cb ZibWh]cb WUbbch
k]`` VY HG~ L\Y XYj]Uh]cb hYadYfUhifY
A@cadVh^VW`Z KG@ = GD/ H^hgiW^g]^/ @FHJI ZhX1 ZibWh]cb cdYfUhYX~ sO\Yb gYh ,+r ]b :E ,y:E -z Ug XYj]Uh]cb ]g gYh ]b :E , cf :E - cZ Z]fgh gYhh]b[ VY igYX~
hYadYfUhifY~ [fcid~ AL\Y cihdih cZ K;: ZibWh]cb ]g >N , UbX >N - cihdih~
p AZX^aV` dc^bh-Ach. gZhh^b\ [ibXh^cb p NQ05 [ibXh^cb HG V H??
u=Yj]Uh]cb Eck}`]a]h U`Ufa
BZ XYj]Uh]cb VYhkYYb IN UbX KN ]g

AZX^aV` dc^bh ^g Y^gd`VmZY Vg ,Ych, ^b gZXcbY gZhh^b\ \fcid k]Zb BZ ig]b[ KN}- ZibWh]cb| ]h W\Ub[Yg h\Y hYadYfUhifY cZ Wcbhfc` gmghYa hc IN KN
cWWiff]b[ `ckYf h\Ub XYj]Uh]cb
hYadYfUhifY gYhh]b[ jU`iY| h\Y cihdih
p Bffcf Y^gd`Vm
4+r ,++r
h]Z ^bdih ^g cb`m VbV`c\-3043QA@/ 408QA@/ 7053a>A@.1 h\Y gYWcbX gYhh]b[ jU`iY Vm YlhYfbU` fY`Um WcbhUWh g][bU`~ Bh WUb W\Ub[Y h\Y k]`` VY HG~ L\Y XYj]Uh]cb hYadYfUhifY BZ Yffcf ]g cWWiffYX k\]`Y h\Y Wcbhfc``Yf ]g cdYfUh]b[| ]h k]`` VY X]gd`UmYX Ug
sO\Yb gYh ,+r ]b :E ,y:E -z Ug XYj]Uh]cb ]g gYh ]b :E , cf :E - cZ Z]fgh gYhh]b[
gYhh]b[ jU`iY Ug gYeiYbh]U``m Vm fY`Um WcbhUWh k]h\cih _Ym cdYfUh]cb~ Zc``ck~
hYadYfUhifY~ [fcid~
AuEEEEu ]g Z`]W_Yf]b[ k\Yb aYUgifYX ]bdih hYadYfUhifY ]g `ckYf h\Ub ]bdih
p @cc`2EZVh [ibXh^cb KN}- HG V H?? V HG
u=Yj]Uh]cb A][\*Eck}`]a]h U`Ufa
BZ XYj]Uh]cb VYhkYYb IN UbX KN ]g
fUb[Y cZ h\Y gYbgcf~
\][\Yf cf `ckYf h\Ub XYj]Uh]cb
@YbYfU``m h\YfY UfY hkc kUmg hc Wcbhfc` hYadYfUhifY| cbYyAYUh}ZibWh]cbz IN KN IN
hYadYfUhifY gYhh]b[ jU`iY| h\Y cihdih AuAAAAu ]g Z`]W_Yf]b[ k\Yb aYUgifYX ]bdih hYadYfUhifY ]g \][\Yf h\Ub
4+r ,++r ,,+r
]g hc \YUh k\Yb IN ]g [Yhh]b[ XckbyAYUhYfz~ L\Y ch\Yfy<cc`}ZibWh]cbz ]g hc KN k]`` VY HG~ L\Y XYj]Uh]cb hYadYfUhifY ]bdih fUb[Y cZ h\Y gYbgcf~
sO\Yb gYh ,+r ]b :E ,y:E -z Ug XYj]Uh]cb ]g gYh ]b :E , cf :E - cZ Z]fgh gYhh]b[
Wcc` k\Yb IN ]g [Yhh]b[ \][\yJYZf][YfUhcfz~ hYadYfUhifY~ [fcid~ AucI>bu ]g Z`]W_Yf]b[ k\Yb h\Y ]bdih gYbgcf ]g bch WcbbYWhYX cf ]hg k]fY ]g
L\YgY ZibWh]cbg UfY cdYfUh]b[ cddcg]hY`m k\Yb ]h ]g HG*H?? Wcbhfc` cf KN}- Wcbhfc` u=Yj]Uh]cb A][\*Eck}`]a]h fYjYfgY Wih~
g][bU` H?? V HG V H??U`Ufa~ BZ XYj]Uh]cb VYhkYYb IN UbX
dfcdcfh]cbU` Wcbhfc`~
KN ]g \][\Yf cf `ckYf h\Ub XYj]Uh]cb
;ih ]b h\]g WUgY IB= h]aY WcbghUbh k]`` VY X]ZZYfYbh XiY hc IB= h]aY WcbghUbh IN KN IN
hYadYfUhifY gYhh]b[ jU`iY| h\Y cihdih
4+r ,++r ,,+r
k]`` VY XYW]XYX UWWcfX]b[ hc Wcbhfc` gmghYa k\Yb ]h ]g IB= Wcbhfc`~ HG h]aY UfYU cZ k]`` VY H??~ L\Y XYj]Uh]cb hYadYfUhifY
sO\Yb gYh ,+r ]b :E ,y:E -z Ug XYj]Uh]cb ]g gYh ]b :E , cf :E - cZ Z]fgh gYhh]b[
A<cc`}ZibWh]cb UbX \YUh}ZibWh]cb WUb VY gYh Uh u u acXY ]b gYWcbX KN}- WcbhUWh
hYadYfUhifY~ [fcid~
gYhh]b[ [fcid~ uL\Y UVgc`ihY jU`iY A][\}`]a]h U`Ufa
H?? V HG
A<cc`}ZibWh]cb UbX \YUh}ZibWh]cb aigh VY gYh WcffYWh`m UWWcfX]b[ hc h\Y BZ IN ]g YeiU` cf \][\Yf h\Ub U`Ufa
ABh WUb gYh KN}- Uh fYei]fYX h]aY UbX dUfh]Wi`Uf UfYU Ug h\Y UVcjY W\Ufh~
KN IN hYadYfUhifY gYhh]b[ jU`iY| h\Y cihdih
Udd`]WUh]cb| ]Z gYh Ug cddcg]hY ZibWh]cb| ]h aUm WUigY U Z]fY~ AKN}- ]g ]b Z]fgh gYhh]b[ [fcid~ ,++r ,,+r k]`` VY HG~ L\Y XYj]Uh]cb hYadYfUhifY
yBZ gYh Wcc`}ZibWh]cb Uh \YUhYf| YjYb ]Z hYadYfUhifY ]g [Yhh]b[ \][\| ]h k]`` A:dd`]WUh]cb 5 sO\Yb gYh ,,+r ]b :E ,y:E -z Ug U`Ufa ]g gYh ]b :E , cf :E - cZ Z]fgh gYhh]b[
hYadYfUhifY~ [fcid~
VY aU]bhU]bYX HG UbX ]h aUm WUigY U Z]fY~z L\Y Wcbhfc` gmghYa| k\]W\ \Ug hc aU]bhU]b WcbghUbh hYadYfUhifY giW\ Ug
cjYb Udd`]WUh]cb~ BZ mci cdYb h\Y Xccf| hYadYfUhifY k]`` [c Xckb~ uL\Y UVgc`ihY jU`iY Eck}`]a]h U`Ufa
A:jc]X W\Ub[]b[ \YUh}ZibWh]cb hc Wcc`}ZibWh]cb cf Wcc`}ZibWh]cb hc HG V H??
BZ IN ]g YeiU` cf `ckYf h\Ub U`Ufa
\YUh}ZibWh]cb cb h\Y ib]h ]g cdYfUh]b[~ Bb h\]g WUgY ]Z mci gYh h\Y gYWcbX gYhh]b[ jU`iY \][\Yf h\Ub gYhh]b[ jU`iY| IN KN hYadYfUhifY gYhh]b[ jU`iY| h\Y cihdih
ABh ]g ]adcgg]V`Y hc cdYfUhY Vch\ ZibWh]cbg Uh cbWY ]b h\]g ib]h~ hYadYfUhifY k]`` f]gY ZUgh~ L\YfYZcfY| UZhYf ]bghU``]b[ U a]Wfc}gk]hW\ ]b cfXYf 4+r ,++r k]`` VY HG~ L\Y U`Ufa hYadYfUhifY ]g
hc XYhYWh h\Y Xccf HdYb*<`cgY UbX WcbbYWh ]h hc KN}-yh\Y gYWcbX gYhh]b[ sO\Yb gYh 4+r ]b :E ,y:E -z Ug U`Ufa gYh ]b :E , cf :E - cZ Z]fgh gYhh]b[
L\YfYZcfY cbY ZibWh]cb g\ci`X VY gY`YWhYX cb`m~ hYadYfUhifY~ [fcid~
jU`iY g\ci`X VY \][\Yf h\Ub KNz h\Yb ]h Wcbhfc`g hYadYfUhifY cZ cjYb
o,W, ^g ^bhZfjV` WZhkZZb JI VbY JCC h]Z gZhh^b\ fVb\Z ^g 4 hc 433n-314 hc 43313n.
YZZ]W]Ybh`m~ K05
VbY XVb WZ gZh Vh , , acYZ ^b [^fgh gZhh^b\ \fcid1
p C`ck X]Vfh [cf gZXcbY gZhh^b\ \fcid p @cbbZXh^cbg p Eck hc X]Vb\Z h]Z gZh jV`iZ
HA qv DYm BZ dfYgg HA w v _Ym Zcf .gYW~ Uh cbWY ]b JMG ghUhY| ]h k]`` [c hc gYWcbX gYhh]b[ [fcid~
yGchYz yGchYz >69<6=3>?=6 4;:>=;886= S Bb WUgY cZ W\Ub[]b[ h\Y gYh jU`iY Uh
KQ n
HA
AYUh]b[ w ytz JYhfUbga]gg]cb JYhfUbga]gg]cb KYh Wcaaib] KYh Wcaaib] LYad~ ghUhig cZ JMG| dfYgg y _Ym~
LYad~ yGchYz :`Ufa :ihc} IB= Wcbhfc` <cc`]b[ Mb]h KWU`Y KWU`Y =YW]aU` cihdih cihdih JUad }WUh]cb }WUh]cb EcW_ gYbgcf
gYbgcf acXY >jYbh , >jYbh - acXY hib]b[ acXY acXY acXY yA][\}`]a]hz yEck}`]a]hz dc]bh yA][\}`]a]hz yEck}`]a]hz ZibWh]cb gdYYX UXXfYgg acXY acXY NQ
,+ + X][]h k]`` Z`Ug\ Uh KN~
3 ,2
HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA

>N, HML
GH NQ5 >O JPO BQ4 BQ5

w v w v w v w v w v w v w v w v w v w v w v w v
-0+N:< ,: 95 3>

2 ,1
w v w v w v w v w v w v

GH >N- HML >@:27

w v w v w v w v w v
-0+N:< ,: } A
1 ,0
w v w v w v
>69<6=3>?=6 4;:>=;886= T IfYgg y _Ym| UbX h\Yb h\Y Z`]W_Yf k]``
n
F:BG HML
KQ

w v w v w v Bbdih gYbgcf 5 KY`YWh Zfca ,4 _]bXg~ KYh `ck}`]a]h gWU`Y jU`iYyBbW`iXY UbU`c[ cihdihz { VY g\]ZhYX ghYd Vm ghYd~
0 KN- BG
,/ -0+N:< .: ,W
w v w v w v >jYbh , 5 KY`YWh Zfca 4 _]bXg~ KY`YWh XYW]aU` dc]bh dcg]h]cb Zcf :bU`c[ ]bdih~ < JYg]gh]jY `cUX
NQ
y y y y
FUl~ 0N=<
KYh h\Y \][\}`]a]h gWU`Y jU`iY k\Yb fYhfUbga]gg]cb
w v w v w v
>jYbh - 5 KY`YWh Zfca 4 _]bXg~ -0+|
cihdih ]g Udd`]YX~ y-+a:z
/ ,.
NQ5 >O JPO BQ4 BQ5

w v
KYh h\Y `ck}`]a]h gWU`Y jU`iY k\Yb fYhfUbga]gg]cb
E 95 3>

:`Ufa cihdih 5 KY`YWh Zfca / _]bXg~

cihdih ]g Udd`]YX~ y/a:z
w v
JL= L~< { JK/30y:{z >@:27

:ihc}hib]b[ 5 KY`YWhUV`Y hib,cf hib-~ :V`Y hc gYh HG UbX H?? cZ JUad ZibWh]cb~ . }
,- IN HML
w v ;x =</}-+a:
IB= 5 KY`YWhUV`Y IB=? cf IB=K~ KYh Wcaaib]WUh]cb gdYYX a:
yJYhfUbga]gg]cb
w v
; { U IfYgg w cf v Uh h\Y Z`]W_Yf X][]h|
- ,,
>69<6=3>?=6 4;:>=;886=
KY`YWhUV`Y \YUh}ZibWh]cb cf Wcc`}ZibWh]cb~ KYh Wcaaib]WUh]cb UXXfYgg cihdihz KQ n
UbX h\Yb W\Ub[Y h\Y gYh jU`iY~
w v
LYadYfUhifY ib]h5 r cf x L\Y XUhU WUbbch VY W\Ub[YX k\Yb h\Y `cW_ _Ym ]g HG~
} JK/30y;}z
K>GKHJ
:
NQ
w v
KYh \][\}`]a]h gWU`Y jU`iYyBbW`iXY UbU`c[ cihdihz +
w v
, ,+ KHMJ<>
sBh k]`` ghUfh hc Z`]W_Yf Vm dfYgg]b[ y _Ym h\Yb gY`YWh YUW\ acXY Vm v| w _Ymg~ NQ5 >O JPO BQ4 BQ5

:ZhYf h\Uh ]Z dfYgg HA _Ym| h\Y =:L: k]`` VY W\Ub[YX h\Yb X]gd`Um bYlh acXY~ o ,++}-/+N:<
0+*1+An 1N:
w v 95 3>

w v
sL\Y gYhh]b[ k]`` VY Wcad`YhYX Vm dfYgg]b[ HA _Ym Zcf . gYW~ h\Yb ]h k]`` fYhifb hc JMG acXY~ 4 >@:27
sBZ bc _Ym hciW\YX Zcf 1+gYW~ ]b YUW\ acXY| ]h k]`` fYhifb hc JMG acXY UihcaUh]WU``m~
w v suytzu a][\h bch VY X]gd`UmYX UWWcfX]b[ hc h\Y gY`YWh]cb cZ ]bdih KYbgcf*Nc`hU[Y*<iffYbh K*O~
ytz suyGchYzu a][\h bch VY X]gd`UmYX UWWcfX]b[ hc h\Y gY`YWh]cb cZ cdh]cb~
F:BG HML >69<6=3>?=6 4;:>=;886= V IfYgg HA _Ym k\Yb h\Y gYhh]b[ ]g
KQ n
Wcad`YhYX~ Bh k]`` ghcd Z`]W_Yf]b[|
JY`Um KKJ <iffYbh
h\Yb fYhifb hc JMG acXY~
p C`ck X]Vfh [cf [^fgh gZhh^b\ \fcid ,0 ,0
}
,0
} NQ

N a:

HA DYm BZ dfYgg HA _Ym Zcf .gYW~ L\]g acXY W\Ub[Yg hc gYWcbX Z`ck W\Ufh~ ,/ ,/ ,/
{ { NQ5 >O JPO BQ4 BQ5
HA
,.
KN}- 95 3>

KYh KN}- jU`iY k]h\]b ]bdih fUb[Y Zcf YUW\ gYbgcf~ -0+N:< .: ,W ,-N=< p.N =</}-+a:
gYhh]b[ JYg]gh]jY `cUX .+a: FUl~ EcUX 1++}
HA
KYh hYadYfUhifY cZ U`Ufa cihdih k\]W\ ]g gY`YWhYX Uh >N},~ FUl~ >@:27

>jYbh ,
KYhh]b[ fUb[Y ]g k]h\]b ]bdih fUb[Y Zcf YUW\ gYbgcf hmdY~
HA
KYh hYadYfUhifY cZ U`Ufa cihdih k\]W\ ]g gY`YWhYX Uh >N}-~
>jYbh -
KYhh]b[ fUb[Y ]g k]h\]b ]bdih fUb[Y Zcf YUW\ gYbgcf hmdY~
HA
Eccd VfYU_ p A^aZbg^cbg
U`Ufa KYh E;: h]aYy+ hc 444gYW~z
HA
:`Ufa KYh BbhYfjU` VYhkYYb HG UbX H?? Zcf U`Ufa cihdih
\mghYfYg]g Zfca , hc ,++ry=YW]aU` hmdY 5 +~, hc ,++~+rz
HA
Ifcdcfh]cbU` KYh Ifcdcfh]cbU` VUbX Zfca +~+ hc ,++~+v~
AIUbY` Wih}cih
/3 ,,.
VUbX BZ gYhh]b[ I jU`iY Ug +~+| ]h k]`` VY HG*H?? Wcbhfc`~
HA
BbhY[fU` KYh ]bhY[fU` h]aY Zfca + hc .1++ gYW~
F]b~ 0+
h]aY BZ gYhh]b[ D jU`iY Ug + gYW~ L\]g ZibWh]cb k]`` VY H??~ ,. 4+ ,+
HA
=Yf]jUh]jY KYh =Yf]jUh]jY h]aY Zfca + hc .1++ gYW~ >69<6=3>?=6 4;:>=;886=

h]aY BZ gYhh]b[ = jU`iY Ug + gYW~ L\]g ZibWh]cb k]`` VY H??~ KQ n

HA
<cbhfc` KYh dfcdcfh]cbU` Wcbhfc` WmW`Y Zfca , hc ,-+ gYW~
dYf]cX Bb WUgY cZ KKJ cihdih| h\]g jU`iY g\ci`X VY gaU``~y>l 5 -gYW~z 4- {+~3
}+
HA
KYh AmghYfYg]g Zfca , hc ,++ry=YW]aU` hmdY 5 +~, hc ,++~+rz| NQ
AmghYfYg]g O\Yb h\Y HG*H?? Wcbhfc` ZibWh]cb igYX~

,+3
41
HA
sBh k]`` ghUfh hc Z`]W_Yf Vm dfYgg]b[ y _Ym UbX h\Y
Bbdih <cffYWh h\Y Yffcf ]b ]bdih gYbgcf Zfca }/4 hc {0+r
WcffYWh]cb y=YW]aU` hmdY 5 }0+~+ hc 0+~+rz Z`]W_Yf k]`` VY acjYX Vm y _Ym h\Yb gYh h\Y jU`iY F]b~ ,,- /0 {+~1

4+
NQ5 >O JPO BQ4 BQ5
}+
HA Vm v| w _Ymg~ :ZhYf h\Uh ]Z dfYgg]b[ HA _Ym h\Y
FUbiU` KYh FUbiU` fYgYh jU`iY Zfca +~+ hc ,++~+v =:L: k]`` VY W\Ub[YX h\Yb X]gd`Um bYlh acXY~
fYgYh L\]g ]g Zcf I Wcbhfc` cb`m| bch Zcf IB=~
HA sBh fYhifbg hc JMG ghUhig ]b WUgY cZ dfYgg]b[ HA 95 3>

KYh JUad f]g]b[}h]aY Zfca , hc 44 a]b~

J:FI f]g]b[ _Ym Zcf .gYW~ UZhYf gYhh]b[ U`` acXY hc W\Ub[Y~
O\Yb JUad ZibWh]cb ]g gY`YWhYX cb`m~
HA sBZ bc _Ym hciW\YX Zcf 1+gYW~| ]h k]`` fYhifb hc JMG
>@:27
KYh JUad ZU``]b[}h]aY Zfca , hc 44 a]b~ acXY UihcaUh]WU``m~
J:FI ZU``]b[
O\Yb JUad ZibWh]cb ]g gY`YWhYX cb`m~
HA sBZ bch hc gYh fY`UhYX acXY ]b gYWcbX gYhh]b[ [fcid| Mb]h5aa
L\]g ZibWh]cb ]g Zcf `cW_]b[ h\Y cdYfUh]cb | | | | | | | | | acXY
DYm `cW_ cZ gYhh]b[ jU`iY UbX Zfcbh :L _Ym~
w v
k]`` X]gUddYUf~
KYhh]b[ HG| YUW\ XUhU WUb bch VY W\Ub[YX~
w v
O\Yb gYhh]b[ HG, ]h ]g bch UV`Y hc W\Ub[Y gYhh]b[
jU`iY cZ Z]fgh gYhh]b[ [fcid UbX cdYfUhY :L DYm~ K06
p CVXhcfm YZ[Vi`hg p >dd`^XVh^cb c[ fZ`Vm cihdih hmdZ p @VgZ YZhVX]aZbh p @Vih^cb [cf ig^b\
AKYWcbX gYhh]b[ [fcid : ,~ BbghU``Uh]cb Ybj]fcbaYbh
FcXY KYh jU`iY FcXY KYh jU`iY ~Bh g\U`` VY igYX ]bXccf
*:`h]hiXY FUl~ -+++a
LRG KYf]Yg
+Ic``ih]cb =Y[fYY -
,BbghU``Uh]cb <UhY[cfmEC
AYUhYf =6 4;:>=;886
=
>69<6=3>? -~ I`YUgY igY h\Y hYfa]bU`yF.~0| FUl~ 2~-aaz k\Yb WcbbYWh
IckYf o n
KQ h\Y :< dckYf gcifWY~

,+/ F
y1.+Nz KiV fY`Um cf FUl~ 2~-aa
NQ
aU[bYh gk]hW\
;
A?]fgh gYhh]b[ [fcid .~ I`YUgY igY gYdUfUhYX `]bY Zfca \][\ jc`hU[Y `]bY cf dckYf
FcXY KYh jU`iY FcXY KYh jU`iY A<Uih]cb Zcf k]f]b[~ NQ5 >O JPO BQ4
BQ5
`]bY ]b cfXYf hc Ujc]X ]bXiWh]jY bc]gY~
,~ DYYd dckYf fY`Um Ug ZUf UkUm Ug dcgg]V`Y Zfca LR gYf]Yg~ /~ I`YUgY ]bghU`` dckYf gk]hW\ cf W]fWi]h}VfYU_Yf ]b cfXYf hc
BZ k]fYg `Yb[h\ cZ : cf ; dUfh ]g g\cfh| Y`YWhfcach]jY ZcfWY 3> Wih dckYf gidd`m cZZ~
95
cWWiffYX Zfca U Wc]` cZ aU[bYh gk]hW\ w dckYf fY`Um aUm
0~ L\Y gk]hW\ cf W]fWi]h}VfYU_Yf g\ci`X VY ]bghU``YX bYUf Vm
Z`ck ]b dckYf `]bY cZ h\Y ib]h| ]h aUm WUigY aU`ZibWh]cb~
-~ BZ k]fYg `Yb[h\ cZ : cf ; dUfh ]g g\cfh| d`YUgY WcbbYWh U igYfg~
>@:27
WcbXYbgYf ,+/y1.+Nz UWfcgg Wc]` u F u cZ h\Y dckYf fY`Um 1~ =c bch igY h\]g dfcXiWh Ug Nc`h}aYhYf cf :adYfY}aYhYf|
hc dfchYWh Y`YWhfcach]jY ZcfWY~ h\]g ]g U hYadYfUhifY Wcbhfc``Yf~
2~ ;Y gifY hc igY WcadYbgUh]b[ k]fY k\Yb YlhYbX]b[ k]fY
p >dd`^XVh^cb c[ NNM cihdih hmdZ Zfca Wcbhfc``Yf hc h\YfacWcid`Y| ch\Yfk]gY U hYadYfUhifY
XYj]Uh]cb k]`` cWWif Uh h\Y dc]bh k\YfY k]fYg UfY WcbbYWhYX
hc YUW\ ch\Yf~
LRG KYf]Yg
3~ Bb WUgY cZ ig]b[ JL= gYbgcf| .k]fYg hmdY aigh VY igYX~
{
KKJ sAck hc hU_Y cih h\Y ]bbYf VcXm Zfca h\Y WUgY 5 BZ mci bYYX hc YlhYbX h\Y `]bY| .k]fYg aigh VY igYX k]h\
BG KKJ HML
IckYf o HML Ii`` h\Y Zfcbh dUbY` [i]XY hc ZcfkUfX cb dig\]b[ ]h hc h\Y gUaY fYg]ghUbWY Ug h\Y `]bY~
} Xckb X]fYWh]cb~
p >dd`^XVh^cbg Bh a][\h WUigY h\Y XYj]Uh]cb cZ hYadYfUhifY ]Z h\Y fYg]ghUbWY
AYUhYf cZ `]bY ]g X]ZZYfYbh~
?ccX IUW_U[]b[ aUW\]bYfm| ;UbX]b[ aUW\]bYfm
4~ Bb WUgY cZ aU_]b[ dckYf `]bY UbX ]bdih g][bU` `]bY W`cgY|
I`Ugh]W I`Ugh]W aUW\]bYfm| ?]`a aU_]b[ gmghYa| YhW~ p N^ad`Z ,Zffcf, Y^V\bcg^g
`]bY Z]`hYf Zcf bc]gY dfchYWh]cb g\ci`X VY ]bghU``YX Uh dckYf
>`YWhf]W ZifbUWY| :ihc gc`XYf]b[ aUW\]bY| A<Uih]cb Zcf ig]b[ KKJ 41 R]Zb ^h Y^gd`Vmg ,JdZb, Yif^b\ cdZfVh^cb1 `]bY UbX ]bdih g][bU` `]bY g\ci`X VY g\]Y`XYX~
BbXighfm ,~ KKJ g\ci`X VY gY`YWhYX Vm h\Y WUdUW]hm cZ `cUX| ch\Yfk]gY| ]h
=fm]b[ aUW\]bY| YhW~s L\]g ]g U kUfb]b[ h\Uh YlhYfbU` gYbgcf ]g Wih cZZ~
aUm g\cfh}W]fWi]h UbX fYgi`h ]b U Z]fY~
,+~ DYYd UkUm Zfca h\Y \][\ ZfYeiYbWm ]bghfiaYbhg~
LYlh]`Ys ;cXm dfYgg| K]n]b[ aUW\]bY I`YUgY hifb cZZ dckYf UbX W\YW_ h\Y ghUhY cZ gYbgcf~ yA][\ ZfYeiYbWm kY`X]b[ aUW\]bY w gYk]b[ aUW\]bY|
-~ BbX]fYWh \YUhYX g\ci`X VY igYX k]h\ KKJ Zcf YZZ]W]Ybh kcf_]b[~
BZ gYbgcf ]g bch Wih cZZ| X]gWcbbYWh gYbgcf `]bY Zfca hYfa]bU` V][ WUdUW]h]jY K<J Wcbhfc``Yfz
p >bV`c\ ^bdih p >dd`^XVh^cb c[ XiffZbh cihdih V`cW_ UbX {| } hc[Yh\Yf~ ,,~ BZ mci kUbh hc W\Ub[Y h\Y ]bdih gYbgcf| fYgYh gk]hW\Yg
O\Yb mci hifb cb dckYf ]h WUb W\YW_ fcca hYadYfUhifY~
Bb WUgY cZ aYUgif]b[ cf Wcbhfc``]b[ \ia]X]hm w dfYggifY| Z`il| YhW| ]h -7 hc 53a>A@. yKO,| KO-z UWWcfX]b[ hc YUW\ ]bdih gdYW]Z]WUh]cb UZhYf
igYg h\Y dfcdYf WcbjYfhYf k\]W\ ]g WcbjYfh]b[ h\Y aYUgif]b[ jU`iY hc BZ h\]g ib]h WUbbch ]bX]WUhY fcca hYadYfUhifY| h\]g ib]h ]hgY`Z dckY cZZ~ Lifb cb dckYf UbX h\Yb gYh gYbgcf acXY Vm
/}-+a:=< cf ,}0N=< cf +},+N=<~ ]g ZUi`hm~ I`YUgY fYacjY h\]g ib]h Zfca Yei]daYbh UbX Zfcbh _Ymg Uh gYWcbX Z`ck W\Ufh~
gYfj]WY cf fYd`UWY~ ,-~ Bb WUgY cZ W\Ub[]b[ ]bdih gYbgcf| UZhYf W\Ub[Y ]h
LRG KYf]Yg K<J Mb]h
,}0N=< SO\Yb ]bdih acXY ]g gYbgcf ]bdih acXYyh\YfacWcid`Yz
>ei]daYbh hc +},+N=< { { UWWcfX]b[ hc KO,| KO- ]bg]XY cZ h\Y ib]h| gY`YWh
<cbjYfhYf Hihdih cb`m| ]h WUb ]bX]WUhY fcca hYadYfUhifY~T
VY Wcbhfc``YX /}-+a:=< <iffYbh BG HML W\Ub[YX gYbgcf k]h\ _Ym cdYfUh]cb k\Yb dckYf cb~
IckYf o
cihdih ,.~ =c bch WcbbYWh dckYf `]bY hc hYfa]bU`g Gc~ ,| -| .| 1| 2|
} }
51 Fb XVgZ c[ bch cdZfVh^b\ h]Z cihdih-h]Z ]ZVhZf.1 3yLYfa]bU` Gc~ ,| -| . 5 KYbgcf WcbbYWh]cb| LYfa]bU` Gc~
AL\]g ib]h \Ug h\Y acXY Zcf h\Y WcbjYfhYf Vi]`h}]b~ IckYf WcbjYfhYf AYUhYf I`YUgY W\YW_ cdYfUh]cb cZ h\Y Hih `Uad `cWUhYX ]b Zfcbh 1| 2| 3 5 >N},| >N}-z~
I`YUgY gY`YWh :}},y+},+N=<z cf :}}-y,}0N=<z cf :}}.
y/}-+a:=<z ]b gY`YWh]cb acXY cZ ]bdih ]b gYWcbX gYhh]b[ [fcid~ dUbY` cZ h\Y ib]h~
oFh aVm XVigZ aV`[ibXh^cb ^[ VWcjZ ^bghfiXh^cbg
AKYh h\Y ]bdih jU`iY Vm A}K< UbX E}K< acXY~ BZ `Uad XcYg bch cdYfUhY| d`YUgY W\YW_ h\Y dUfUaYhYf cZ
AL\Y ch\Yf cdYfUh]cb ZibWh]cb UZhYf Xc]b[ h\Uh ]g gUaY Ug Wcbhfc``]b[ ABh ]g ]adcfhUbh hc gY`YWh K<J ib]h UZhYf W\YW_]b[ h\Y WUdUW]hm cZ VfZ bch [c``ckZY1
U`` dfc[fUaaYX acXY~
h\Y hYadYfUhifY~ h\Y `cUX~
BZ `Uad ]g cdYfUh]b[| d`YUgY W\YW_ h\Y cihdihyfY`Um| cdYfUh]b[ p HV^b dfcYiXhg
ABZ h\Y WUdUW]hm ]g YlWYYXYX| ]h aUm WUigY U Z]fY~
A:dd`]WUh]cbg jc`hU[Y Zcf KKJ| WiffYbh cihdihz UZhYf gYdUfUh]b[ cihdih
u <HMGL>J
LRG/A `]bY Zfca h\Y ib]h~ u LBF>J
IfYggifY p >dd`^XVh^cb c[ MZhfVbga^gg^cb cihdih u L>FI>J:LMJ> <HGLJHEE>J
>69<6=3>?=6 4;:>=;886=

n u I:G>E F>L>J
-7 hc 53a>A@.
KQ

<cbhfc` + hc ,++_[ /}-+a:=< Bb}h gYh5:}}. 61 Fb XVgZ c[ ^bY^XVh^b\ , , ^b Y^gd`Vm1 u L:<AH*EBG> KI>>=*IMEK> F>L>J
<cbjYfhYf A}K< gYh5,++
gmghYa L\]g >ffcf aYggU[Y ]g ]bX]WUhYX ]b WUgY cZ XUaU[]b[ ]bbYf u =BKIE:Q MGBL
NQ

E}K< gYh5+ u IJHPBFBLQ K>GKHJ

NQ5 >O JPO BQ4 BQ5 W\]d dfc[fUa XUhU Vm cihYf ghfcb[ bc]gY~ u IAHLH>E><LJB< K>GKHJ \`ba`b]c^`_
LRG KYf]Yg
95 3> JYWcXYf Bb h\]g WUgY| d`YUgY gYbX h\Y ib]h hc cif UZhYf gYfj]WY WYbhYf u ?B;>J HILB< K>GKHJ ]hhd=22kkk1Vihcb^Xg1Xca
{ /}-+a:=< u IJ>KKMJ> K>GKHJ NVh^g[^VW`Z KVfhbZf Ccf CVXhcfm >ihcaVh^cb
>@:27
UZhYf fYacj]b[ h\Y ib]h Zfca gmghYa~ u JHL:JQ >G<H=>J
?YYXVUW_ IckYf o JYhfUbga]gg]cb BG
uEB>ALP>MOBMN 5

cihdih Gc]gY dfchYWh]cb ]g XYg][bYX ]b h\]g ib]h| Vih ]h XcYg bch u K>GKHJ <HGLJHEE>J /,}0| Qcb[XUb[}f]| Mb[gUb[}Yid| QUb[gUb}g]| @mYcb[bUa|
1-1}3/2| DcfYU
sBb WUgY cZ ig]b[ h\Y WcbjYfhYf acXY| d`YUgY gY`YWh h\Y ]bbYf } ghUbX id ghfcb[ bc]gY Wcbh]bicig`m~ u IHO>J <HGLJHEE>J uFIOBMI>OFJI>G N>GBN 5
u KL>IIBG@ FHLHJ w =JBN>J ;`X[~ /+- .fX ?`~| ;iW\Ycb LYW\bc IUf_| ,4.| QU_XUY}Xcb[|
gk]hW\]b[ d]b UWWcfX]b[ hc h\Y W\Ufh ]b uKY`YWh]cb gk]hW\ Zcf Bbdih BZ V][[Yf bc]gY h\Ub gdYW]Z]YXyFUl~ -_Nz Z`ckg ]b h\Y ib]h| w <HGLJHEE>J
Ocba]}[i| ;iW\Ycb}g]| @mYcb[[]}Xc| /-+}2./| DcfYU
L>E53-}.-}.-4}+2-- * ?:P53-}.-}.-4}+2-3
gYbgcf*Nc`hU[Y*<iffYbhu~ u E:K>J F:JDBG@ KQKL>F uB0aV^` 5 gU`Yg9Uihcb]Wg~bYh
]h WUb VY XUaU[YX~
y<H-| GX5Q:@z >I}>}+.}.,/+: