You are on page 1of 117

SCHEME OF EXAMINATION

&

SYLLABI

for

Bachelor / Master of Technology (Dual Degree)


Electronics and Communications Engineering

Offered by

University School of Information Technology

1ST SEMESTER TO 8TH SEMESTER

Guru Gobind Singh Indraprastha University


Kashmere Gate, Delhi – 110 403 [INDIA]
www.ipu.ac.in

1 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Semester I

Paper Code Paper ID Paper C L T P


Theory
HS101 98101 Communications Skills – I 3 2 1 -
BA105 99103 Theory and Technology of Semiconductors 3 3 0 -
IT105 15105 Introduction to Computers 3 3 0 -
EC107 101107 Network Analysis 3 3 0 -
BA109 99109 Mathematics – I 4 3 1 -
BA111 99111 Physics – I 3 2 1 -
*HS119 98119 Impact of Science and Technology on Society - I 1 1 - -
Practical
BA151 99151 Theory and Technology of Semiconductors Lab. 1 - - 2
BA153 101153 Engineering Physics – I Lab. 1 - - 2
IT155 15155 Computer Lab. 1 - - 2
IT157 15157 Engineering Graphics – I Lab. 1 - - 2
EC159 101159 Network Analysis Lab. 1 - - 2
HS161 101161 Communications Skills - I Lab. 1 - - 2
Total 26 17 3 12
*NUES

Semester II

Paper Code Paper ID Paper C L T P


Theory
HS102 98102 Communications Skills – II 3 2 1 -
EC104 101104 Analog Electronics – I 3 3 0 -
EM106 99106 Environment Studies 3 2 1 -
BA108 99108 Mathematics – II 4 3 1 -
BA110 99110 Physics – II 3 2 1 -
EC112 101112 Signals and Systems 3 2 1 -
*HS126 98126 Impact of Science and Technology on Society - II 1 1 - -
Practical
EC152 101152 Analog Electronics – I Lab 2 - - 4
IT154 15154 Engineering Graphics – II Lab. 1 - - 2
BA156 99156 Physics – II Lab. 1 - - 2
EM158 99158 Environment Studies Lab. 1 - - 2
HS160 98160 Communications Skills– II Lab. 1 - - 2
Total 26 15 5 12
*NUES

2 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Semester III

Paper Code Paper ID Paper C L T P


Theory
IT201 15201 Computational Techniques 4 3 1 -
EC203 101203 Communications Systems – I 4 3 1 -
EC205 101205 Engineering Electromagnetics 4 3 1 -
IT207 15207 Object Oriented Programming Using C++ 4 3 1 -
EC209 101209 Digital Electronics 4 3 1 -
EC211 101211 Analog Electronics – II 4 3 1 -
Practical
EC251 101251 Computational Techniques Lab. 1 - - 2
EC253 101253 Communications Systems – I Lab 1 - - 2
EC255 101255 Object Oriented Programming Using C++ Lab. 1 - - 2
EC257 101257 Digital Electronics Lab. 1 - - 2
EC259 101259 Analog Electronics – II Lab. 1 - - 2
Total 29 18 6 10

Semester IV

Paper Code Paper ID Paper C L T P


Theory
EC202 101202 VHDL based Design 4 3 1 -
EC204 101204 Communications Systems – II 4 3 1 -
EC206 101206 Transmission Lines, Waveguides and Antennas 4 3 1 -
EC208 101208 Control Engineering 4 3 1 -
EC210 101210 Data Structures and Algorithms 4 3 1 -
EC212 101212 Computer Architecture and Operating Systems 4 3 1 -
Practical
EC252 101252 VHDL based Design Lab. 1 - - 2
EC254 101254 Communications Systems – II Lab. 1 - - 2
EC256 101256 Control Engineering Lab. 1 - - 2
EC258 101258 Data Structures and Algorithms Lab. 1 - - 2
Total 28 18 6 8

3 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Semester V

Paper Code Paper ID Paper C L T P


Theory
EC301 101301 Microwave Devices and Circuits 4 3 1 -
EC303 101303 Microprocessors and Interfacing 4 3 1 -
EC305 101305 Microelectronics 4 3 1 -
EC307 101307 Relational Database Management Systems 4 3 1 -
EC309 101309 Stochastic Systems and Processes 4 3 1 -
MS311 101311 Principles of Management 2 2 - -
Practical
EC351 101351 Microwave Devices and Circuits Lab. 1 - - 2
EC353 101353 Microprocessors and Interfacing Lab. 1 - - 2
EC355 101355 Microelectronics Lab. 1 - - 2
EC357 101357 Relational Database Management Systems Lab. 1 - - 2
*EC359 101359 Summer Training (held at the end of the IVth semester) 1 - - -
Report
Total 27 17 5 8
*NUES

Semester VI

Paper Code Paper ID Paper C L T P


Theory
EC302 101302 Digital System Processing and Applications 4 3 1 -
EC304 101304 Computer Networking 4 3 1 -
EC306 101306 Information Theory and Coding 4 3 1 -
EC308 101308 Telecommunications Networks 4 3 1 -
EC310 101310 Opto – Electronics and Optical Communications 4 3 1 -
EC312 101312 Mobile Communications 4 3 1 -
Practical
EC352 101352 Digital System Processing and Applications Lab. 1 - - 2
EC354 101354 Computer Networks Lab. 1 - - 2
EC356 101356 Telecommunications Networks Lab. 1 - - 2
EC358 101358 Opto-Electronics and Communications Lab. 1 - - 2
Total 28 18 6 8

4 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Semester VII

Paper Code Paper ID Paper C L T P


Theory
IT417 15417 Embedded Systems 4 3 1 -
EC401 101401 Satellite Communication 4 3 1 -
Electives (Choose any two)
EC405 101405 Measurement and Instrumentation 4 3 1 -
IT407 101407 Artificial Intelligence 4 3 1 -
EC409 101409 Introduction to Nanotechnology 4 3 1 -
EC411 101411 Neural Networks and Applications 4 3 1 -
EC413 101413 Software Engineering 4 3 1 -
EC415 101415 Radar and Navigation Engineering 4 3 1 -
EC417 101417 Reliability Engineering 4 3 1 -
EC419 101419 Computer Graphics and Multimedia 4 3 1 -
EC421 101421 Radio and Television Engineering 4 3 1 -
MS423 101423 Principles of Managerial Economics 4 4 - -
MS425 101425 Principles of Organizational Behaviour 4 4 - -
Practical
EC451 101451 Embedded Systems Lab. 1 - - 2
EC453 101453 Laboratory work based on Electives or MATLAB 2 - - 4
EC455 101455 Minor Project 4 - - 8
*EC457 101457 Summer Training (held at the end of the VIth 1 - - -
semester) Report
Total 24 12-14 2-4 14
*NUES

Semester VIII

Paper Code Paper ID Paper C L T P


Theory
*HS402 98402 Technical Writing 2 2 - -
*HS424 98424 Ethics and Moral Values 1 1 - -
Electives (Choose any two)
IT404 15404 Advanced Computer Architecture 4 3 1 -
EC406 101406 IC Design 4 3 1 -
EC408 101408 Power Electronics 4 3 1 -
IT410 15410 Soft Computing 4 3 1 -
EC412 101412 Multimedia Communications 4 3 1 -
MS414 101414 Financial Management 4 4 - -
MS416 101416 Principles of Human Resource Management 4 4 - -
EC418 101418 Digital Image Processing and Applications 4 3 1 -
EC420 101420 Fuzzy Logic and Systems 4 3 1 -
EC422 101422 Linear and Nonlinear Optimization Techniques 4 3 1 -
EC424 101424 Advances in Wireless Communications 4 3 1 -
EC426 101426 Object Oriented Programming Using Java 4 3 1 -
Practical
EC452 101452 Laboratory work based on Elective or MATLAB 2 - - 4
**EC454 101454 Major Project** 8 - - 16
*EC456 101456 Seminar and Progress Report 1 - - -
Total 22 8-10 0-2 20
*NUES

5 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
**The student will submit a synopsis at the beginning of the semester for approved by the school committee in a
specified format. The student will have to present the progress of the work through seminars and progress reports.

Note:
1. The total no. of credits of the Programme B. Tech. (ECE) = 210

2. Each student shall be required to appear for examination in all courses. However, for the award of the
degree a student shall be required to earn a minimum of 200 Credits.

6 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Code: HS 101 L T/P C
Paper ID: 98101 Paper: Communication Skills – I 2 1 3
INSTRUCTIONS TO PAPER SETTERS: Maximum Marks : 60
1. Question No. 1 should be compulsory and cover the entire syllabus. This question should have objective or short answer type questions. It should be of 20
marks.
2. Apart from Question No. 1, rest of the paper shall consist of four units as per the syllabus. Every unit should have two questions. However, student may
be asked to attempt only 1 question from each unit. Each question should be 10 marks

I. Remedial Grammar
(a) Simple sentences – their phrase structure
(b) Parts of speech
(c) Tense and concord
(d) Gerunds, Participles & Infinitives
(e) Complex and Compound sentences (Use of connectives)
(f) Conditional clauses
(g) Question tags & short responses
(h) Common errors

II. Vocabulary and Usage


(a) Synonyms & Antonyms
(b) One word substitutions
(c) Words often confused
(d) Idioms / Idiomatic expressions
(e) Foreign Phrases (Greek and Latin)

III. Presentation of Technical Information:


Technical description of
(a) Simple objects, tools, appliances
(b) Processes and operations
(c) Scientific principles

IV. Composition:
(a) Comprehension – Unseen passages
(b) Dialogues – Creation of mock situations.
(c) Debates – Discussing the pros and cons of a given topic.
(d) Thematic Appreciation Exercises / Development of situational outlines.

V. Prose
Selected prose pieces from prescribed texts.

7 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Code: BA 105 L T/P C
Paper ID: 99103 Paper: Theory and Technology of Semiconductors 3 1 4
INSTRUCTIONS TO PAPER SETTERS: Maximum Marks : 60
1. Question No. 1 should be compulsory and cover the entire syllabus. This question should have objective or short answer type questions. It should be of 20
marks.
2. Apart from Question No. 1, rest of the paper shall consist of four units as per the syllabus. Every unit should have two questions. However, student may
be asked to attempt only 1 question from each unit. Each question should be 10 marks

(Each unit of 10 hours.)


Unit I:
Crystal Properties and Growth of Semiconductors: Types of Solids and their electrical properties, Semiconductor
Materials, Periodic Structures, Crystal Lattices, Bulk Crystal Growth, Starting Materials, Wafers, Doping, Epitaxial
Growth, Lattices Matching in Epitaxial Growth, Vapor Phase Epitaxy, Molecular Beam Epitaxy.
Atoms and Electrons: Physical Models, Experimental Observations, Photoelectric Effect, Atomic Spectra, Quantum
Mechanics, Uncertainty Principle, Schrodinger Wave Equation, Potential Well Problem, Tunnelling, Atomic
Structure and the Periodic Table, The Hydrogen Atom.

Unit –II:
Energy Bands and Charge Carriers in Semiconductors: Band theory for solids, semiconductors types, Charge
carriers and their properties. Fermi Level Invariance of the Fermi level at equilibrium, Carrier concentration at
Equilibrium, Temperature and doping effect on carrier concentration, conductivity and mobility, Compensation and
Space Charge Neutrality, Effect of Electric and Magnetic Fields, Drift and Resistance, High – field effects, The Hall
effect.

Unit – III:
Excess Carriers in Semiconductors: Optical absorption, Optical and Electro Luminescence, photoconductivity,
direct and indirect combination of electrons and holes, Steady state Carrier Injection, carrier diffusion and drift,
Diffusion Length, Haynes Shockley Experiment, Gradients in Quasi Fermi Level.

Unit – IV:
Junctions: Fabrication of p-n Junction (Thermal oxidation, diffusion, rapid thermal processing, ion implantation,
chemical vapor deposition, photolithography, etching metallization). Contact potential, Equilibrium Fermi Levels,
Space Charge at Junction, Junction Biasing, Current flow across junction, Zener breakdown, Rectifiers, Transient
and AC conditions, Variation of stored charge, capacitance of p-n junctions, Transition region properties, Ohmic
losses, graded junctions, Metal-semiconductor Junctions, Schottky Barriers, Rectifying contacts, Ohmic contacts,
Hetrojunctions, different types of diodes and their prioperties. Optical Devices and their properties, Semiconductor
Power Devices.

Text/Reference:

1. B. Streetman, “Solid State Electronic Devices”, Prentice Hall, 1994.


2. D. A. Neamen, “Semiconductor Physics and Devices: Basic Principles”, McGraw Hill, 2003 (3rd Ed.).
3. S. M. Sze and K. K. Ng, “Physics of Semiconductor Devices”, Wiley, 2007 (3rd Ed.).

8 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Code : IT105 L T/P C
Paper ID:15105 Paper: Introduction To Computers 3 0 3
INSTRUCTIONS TO PAPER SETTERS: Maximum Marks : 60
1. Question No. 1 should be compulsory and cover the entire syllabus. This question should have objective or short answer type questions. It should be of 20
marks.
2. Apart from Question No. 1, the students should be asked to attempt 2 questions from unit I (1 questions out of 2) and attempt 3 questions from Unit II (3
questions.out of 5).

Unit – I
Introduction: Overview of computer organization and historical perspective computer applications in
various fields of science and management.
Data representation: Number systems, character representation codes, Binary, hex, octal codes and their
inter conversions. Binary arithmetic, Floating point arithmetic, signed and unsigned numbers. Data Storage:
Primary and Secondary storage, Introduction to various computer devices such as keyboard, mouse,
printers, disk files, floppies etc. Concept of computing, contemporary, Operating Systems such as DOS,
Windows’95, UNIX etc. (only brief user level description). Introduction to organization and architecture of
mainframe, mini and micro systems. Introduction to E-mail, ftp, login and other network services, world
wide web, MS-Office.

Introduction to Programming: Concept of algorithms, Flow charts, Example of Algorithms such as how to
add ten numbers, roots of a quadratic equation. Concept of sequentially following up the steps of a
algorithm.Notion of program, programmability and programming languages, Structure of programs, Object
codes, compilers.
Introduction to the Editing tools such as vi or MS-VC editors. Concepts of the finite storage, bits, bytes,
kilo, mega and gigabytes, Concepts of character representation. (11 hours)

Unit – II

Programming using C: The emphasis should be more on programming techniques rather that the
language itself. The C programming language is being chosen mainly because of the availability of the
compilers, books and other reference materials. Example of some simple C program. Dissection of the
program line by line, Concepts of Variables, program statements and function calls from the library (printf
for example)
o C data types, int, char, float etc.
o C expressions, arithmetic operations, relational and logic operations.
o C assignment statements, extension of assignment to the operations. C primitive input output using
getchar and putchar, exposure to the scanf and printf functions.
o C statements, conditional executing using if, else. Optionally switch and break statements may be
mentioned.
o Concepts of loops, example of loops in C using for, while and do-while, Optionally continue may
be mentioned.
o One dimensional arrays and example of iterative programs using arrays, 2-d arrays. Use in matrix
computations.
o Concept of Sub-programming, functions, Example of functions, Argument passing mainly for the
simple variables.
o Pointers, relationship between arrays and pointers, Argument passing using pointers, Array of
pointers, Passing arrays as arguments.
o Strings and C string library
Structures and Unions. Defining C structures, passing strings as arguments, programming
examples.
o File I/O, Use of fopen, fscanf and fprintf routines etc. (30 Hours)

9 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Code: EC 107 L T/P C
Paper ID: 101107 Paper: Network Analysis 3 1 4
INSTRUCTIONS TO PAPER SETTERS: Maximum Marks : 60
1. Question No. 1 should be compulsory and cover the entire syllabus. This question should have objective or short answer type questions. It should be of 20
marks.
2. Apart from Question No. 1, rest of the paper shall consist of four units as per the syllabus. Every unit should have two questions. However, student may
be asked to attempt only 1 question from each unit. Each question should be 10 marks

(Each unit of 10 hours.)


Unit – I:
Circuits: Voltage, Ideal Voltage Source, Current Ideal Current Sources, Classification of Circuits, Ohm’s Law,
Resistively, Temperature Effect, Resistors, Resistor Power Absorption, Nominal Values and Tolerances, Colour
Codes, Open and Short Circuits, Internal Resistance. Operational Amplifiers. Capacitance, Inductance,
Transformers.

Unit - II:
DC Circuits: Series and Parallel Circuits, Kirchhoff’s Voltage and Current Law, Mesh Analysis, Loop Analysis,
Nodal Analysis, Thevenin’s and Norton’s Theorem, Maximum Power Transfer Theorem, Superposition Theorem,
Millman’s Theorem, Tellegens Theorem, Y - ∆ and ∆- Y Transformation, Bridge Circuits.

Unit – III:
AC Circuits: Circuits containing Capacitors and Inductors, Transient Response, Alternating Current and Voltages,
Phasors, Impedences and Admittance, Mesh Analysis, Loop Analysis, Nodal Analysis, Thevenin’s and Norton’s
Theorem, Y - ∆ and ∆- Y Transformation, Bridge Circuits. Resonant Circuits, Complex Frequency and Network
Function, Maximum Power Transfer Theorem, Superposition Theorem.

Unit IV:
Two port Networks. Passive Filters. Graph Techniques for Network Analysis, Laplace Transforms, Fourier series
and Transform Methods for Network Analysis.

Text/Reference:
1. K. S. S. Kumar, “Electric Circuits and Networks”, Pearson, 2009.
2. van Valkenberg, “Network Analysis”, PHI/Pearson, 2000.
3. J. W. Nilsson and S.A. Riedel, “Electric Circuits”, Pearson, 2008.
4. D. R. Choudhary, “Networks and Systems” New Age International, 1999.

10 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Code: BA 109 L T/P C
Paper ID: 99109 Paper: Mathematics - I 2 1 3

1(a) Calculus of functions of One variable

(i) Successive Differentiation, Leibnitz's theorem (without proof). Lagrange's Theorem, Cauchy
Mean value theorems, Taylor's theorem (without proof), Remainder term, Asymptotes, Curvature,
Curve Tracing.
14 hrs

(ii) Infinite Series: Convergence, divergence, Comparison test, Ration Test, Cauchy nth root test,
Leibnitz's test (without proof), Absolute and Conditional Convergence, Taylor and Meclaurin
series, Power Series, Radius of Convergence.
5 hrs

(iii) Integral Calculus: Reduction Formulae of trigonometric functions, Properties of definite Integral,
Applications to length, area, volume, surface of revolution, Definition of improper integrals, Beta-
Gamma functions.
8 hrs

1(b) Calculus of Functions of several variables:

Partial derivatives, Chain rule, Differentiation of Implicit functions, Exact differentials. Maxima, Minima
and saddle points, Method of Lagrange multipliers. Differentiation under Integral sign, Jacobians and
transformations of coordinates. Double and Triple integrals. Simple applications to areas, Volumes etc.

12 hrs

II Vector Calculus:

Scalar and vector fields, Curves, Arc length, Tangent, normal, Directional Derivative, Gradient of scalar
field, divergence and curl of a vector field. Line integral (independent of path), Green's theorem,
Divergence theorem and Stoke's theorem (without proofs), Surface Integrals.
12 hrs

Text/Reference:

1. G.B. Thomas and R.L. Finney, "Calculus and Analytic Geometry", 6th edition, Addison-Wesley/Narosa,
1985.
2. Shanti Narayan, "Differential Calculus", S. Chand & Co.
3. Shanti Narayan, "Integral Calculus", S. Chand & Co.
4. Grewal B.S., "Higher Engineering Mathematics", Khanna Publ.
5. E. Kreyszig, "Advanced Engineering Mathematics", 5th Edition, Wiley Eastern, 1985.
6. Murray R. Spiegel, "Theory and Problems of Vectors Analysis", Schaum's Outline Series, Mc Graw Hill
Ed.
7. S.C. Malik, "Mathematical Analysis", Wiley Eastern Ltd.
8. "Advanced Calculus", Schaum's Outline Series, Mc Graw Hill Ed.
9. Widder, "Advanced Calculus", 2nd Edition, Prentice Hall Publishers.

11 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Code: BA 111 L T/P C
Paper ID: 99111 Paper: Physics – I 2 1 3

I OPTICS
Polarization
Types of polarization, elliptically and circularly polarized light Brewsters law, Malu's law, Nicol prism, double
refraction, quarter-wave and half-wave plates, optical activity, specific rotation, Laurent half shade polarimeter.
5 hrs.
Interference
Coherence and coherent sources, interference by division of wave front (young's double slit experiment, Fresnel's
biprism), interference by division of amplitude (thin films, Newton's rings, Michelson's interferrometer, Fabry Perot
interferrometer)
7 hrs.
Diffraction
(Fresnel and Fraunhofer types of diffraction) Fraunhofer difraction: Single slit, double slit, circular aperture and N-
slit, diffraction grating wavelength determination, resolving power and dispersive power, Fresnel Diffraction: Zone
plate, circular aperture, opaque circular disc, narrow slit.
7 hrs.
II LASER AND FIBRE OPTICS
Lasers
Introduction, coherence, Einstein A and B coefficients, population inversion, basic principle and operation of a
laser, type of lasers, He-Ne laser, Ruby laser, semiconductor laser, holography-theory and applications.
5 hrs.
Fibre Optics:
Introduction to optical fibre, types of optical fibres and their characteristics, (Attenuation and dispersion step index
and graded index fibres, principle of fibre optic communication-total internal reflection, numerical aperture, fibre
optical communication network (qualitative)-its advantages.
5 hrs.
III Theory of relativity
Absolute and Inertial frames of reference, Galenlian transformations, Michelson-Morley experiment, the postulates
of the special theory of relativity, Lorentz transformations, time dilation, length contraction, velocity addition, mass
energy equivalence.
5 hrs.
Recommended Books
1. Concepts of Modern Physics: A. Beiser
2. Modern Physics: Kenneth Krane
3. Fundaments of Optics: Jenkins and White
4. Optics: Ghatak
5. Fundamental of Physics by RESNICK & HALLIDAY

12 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Practicals:

Code: BA151 L T/P C


Paper ID:99151 Paper: Theory and Technology of Semiconductors Lab. 0 2 1

Practicals based on BA105.

Code: BA153 L T/P C


Paper ID:99153 Paper: Physics– I Lab. 0 2 1

Practicals based on BA109.

Code: IT155 L T/P C


Paper ID:15155 Paper: Computer Lab. 0 2 1

Practicals based on IT105.

Code: IT157 L T/P C


Paper ID:15157 Paper: Engineering Graphics –I 0 2 1

1. General
Importance, Significance and scope of engineering drawing, Lettering, Dimensioning, Scales, Sense of
proportioning, Different types of projections, Orthographic projections, B.I.S. Specifications.

2. Projections of Points and Lines


Introduction of planes of projection, Reference and auxiliary planes, projections of points and lines in
different quadrants, traces, inclinations, and true lengths of the lines, projections on auxiliary planes,
shortest distance intersecting and non-intersecting lines.

3. Planes Other than the Reference Planes


Introduction of other planes (perpendicular and oblique), their traces, inclinations etc., projections of points
and lines lying in the planes, conversion of oblique plane into auxiliary plane and solution of related
problems.

4. Projections of Plane Figures


Different cases of plane figures (of different shapes) making different angles with one or both reference
planes and lines lying in the plane figures making different given angles (with one or both reference
planes). Obtaining true shape of the plane figure by projection.

5. Projection of Solids
Simple cases when solid is placed in different positions, Axis, faces and lines lying in the faces of the solid
making given angles.

6. Development of Surface
Development of simple objects with and without sectioning.

7. Nomography
Basic concepts and use.

Code: EC159 L T/P C


Paper ID:101159 Paper: Network Analysis Lab. 0 2 1

Practicals based on EC107.

13 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Code: HS161 L T/P C
Paper ID:98161 Paper: Communications Skills – I Lab. 0 2 1

Practicals based on HS101.

14 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Code: HS102 L T/P C
Paper ID:98102 Paper: Communication Skills – II 1 2 3

1. Some Key Concepts:


Communication as sharing; context of communication; the speaker/writer and the listener/reader; medium
of communication; barriers to communication; accuracy, brevity, clarity and appropriateness in
communication.

2. Writing:
Selecting material for expository, descriptive, and argumentative pieces; business letters; formal report;
summarizing and abstracting; expressing ideas within a restricted word limit; paragraph division,
introduction and the conclusion; listing reference material; use of charts, graphs and tables; punctuation and
spelling; semantics of connectives, modifiers and modals, variety in sentences and paragraphs.

3. Reading Comprehension:
Reading at various speeds (slow, fast, very fast), reading different kinds of texts for different purposes (e.g.,
for relaxation, for information, for discussion at a later stage, etc.); reading between the lines.

4. Speaking:
Achieving desired clarity and fluency; manipulating paralinguistic features of speaking (voice quality,
pitch, tone, etc.); pausing for effectiveness while speaking, task-oriented, interpersonal, informal and
semiformal speaking; making a short classroom presentation.

5. Group Discussion:
Use of persuasive strategies including some rhetorical devices for emphasizing (for instance; being polite
and firm; handling questions and taking in criticism of self; turn-taking strategies and effective
intervention; use of body language).

6. Listening Comprehension:
Achieving ability to comprehend material delivered at relatively fast speed; comprehending spoken
material in Standard Indian English, British English and American English, intelligent listening in
situations such as an interview in which one is a candidate.

15 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Code: EC 104 L T/P C
Paper ID: 101104 Paper: Analog Electronics – I 3 1 4
INSTRUCTIONS TO PAPER SETTERS: Maximum Marks : 60
1. Question No. 1 should be compulsory and cover the entire syllabus. This question should have objective or short answer type questions. It should be of 20
marks.
2. Apart from Question No. 1, rest of the paper shall consist of four units as per the syllabus. Every unit should have two questions. However, student may
be asked to attempt only 1 question from each unit. Each question should be 10 marks

(Each unit of 10 hours.)

Unit- I
Junction Diode Charactersistics: Review of semi conductor Physics – n and p –type semi conductors, Hall Effect,
Fermi level in intrinsic and extrinsic semiconductors, Open-circuited p-n junction, The p-n junction Energy band
diagram of PN diode, PN diode as a rectifier (forward bias and reverse bias), The current components in p-n diode,
Law of junction, Diode equation, Volt-ampere characteristics of p-n diode, Temperature dependence of VI
characteristic, Transition and Diffusion capacitances, Step graded junction, Breakdown Mechanisms in Semi
Conductor (Avalanche and Zener breakdown) Diodes, Zener diode characteristics, Characteristics of Tunnel Diode
with the help of energy band diagrams, Varactar Diode, LED, and photo diode

Unit- II
Trasister and FET Characteristics: Junction transistor, Transistor current components, Transistor as an amplifier,
Transistor construction, Detailed study of currents in a transistor, Transistor alpha, Input and Output characteristics
of transistor in Common Base, Common Emitter, and Common collector configurations, Relation between Alpha
and Beta, typical transistor junction voltage values, JFET characteristics (Qualitative and Quantitative discussion),
Small signal model of JFET, MOSFET characteristics (Enhancement and depletion mode), Symbols of MOSFET,
Comparison of Transistors, Introduction to SCR and UJT.

Unit-III
Biasing and Stabilisation: BJT biasing, DC equivalent model, criteria for fixing operating point, Fixed bias,
Collector to base bias, Self bias techniques for stabilization, Stabilization factors, (S, S', S'’), Compensation
techniques, (Compensation against variation in VBE, Ico,) Thermal run away, Thermal stability,

Unit-I V
Amplifiers and Oscillators: Small signal low frequency transistor amplifier circuits: h-parameter representation of a
transistor, Analysis of single stage transistor amplifier using h-parameters: voltage gain, current gain, Input
impedance and Output impedance. Concept of feedback, Classification of feedback amplifiers, General
characteristics of negative feedback amplifiers, Effect of Feedback on input and output characteristics, Condition for
oscillations. RC-phase shift oscillators with Transistor and FET, Crystal oscillators.

Text :
1. Electronic Devices and Circuits – J.Millman, C.C.Halkias, and Satyabratha Jit Tata McGraw Hill, 2nd Ed.,
2007.
2. Electronic Devices and Circuits – Salivahanan and others TMH.
3. Electronic Devices and Circuits – D. R. Cheruku and B. T. Krishna, Pearson, 2008

References:

1. Electronic Devices and Circuits – T.F. Bogart Jr., J.S.Beasley and G.Rico, Pearson Education, 6th edition,
2004.
2. Principles of Electronic Circuits – S.G.Burns and P.R.Bond, Galgotia Publications, 2nd Edn.., 1998.
3. Microelectronics – Millman and Grabel, Tata McGraw Hill, 1988.
4. Electronic Devices and Circuit Theory – R. L. Boylestad and L. Nashlesky, Pearson, 10th Ed., 2009.

16 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Code: EM106 L T/P C
Paper ID: 99106 Paper: Environment Studies 2 1 3
INSTRUCTIONS TO PAPER SETTERS: Maximum Marks : 60
1. Question No. 1 should be compulsory and cover the entire syllabus. This question should have objective or short answer type questions. It should be of 20
marks.
2. Apart from Question No. 1, rest of the paper shall consist of four units as per the syllabus. Every unit should have two questions. However, student may
be asked to attempt only 1 question from each unit. Each question should be 10 marks

(Each unit of 7 hours.)


Unit-I:
Definition, scope and importance, need for public awareness, introduction to concept of green technology. Forest
resources: Use and over-exploitation, deforestation, Timber extraction, mining, dams and their effects on forest and
tribal people. Water resources: Use and over-utilization of surface and ground water, floods, drought, conflicts over
water, dams-benefits and problems. Mineral resources: Use and exploitation, environmental effects of extracting
and using mineral resources. Food resources: World food problems, changes caused by agriculture and over-grazing,
effects of modern agriculture, fertilizer-pesticide problems, water logging, salinity. Energy resources: Growing
energy needs, renewable and non renewable energy sources, use of alternate energy sources-green fuel. Land
resources: Land as a resource, land degradation, man induced landslides, soil erosion and desertification. Resource
Management-Sustainable development.

Unit-II:
Air Pollution - Types of pollutants, source, effects, sink & control of primary pollutants– CO, NOX, HC, SOx and
particulates, effect of pollutants on man & environment: photochemical smog, acid rain and global warming, CO2
Sequestration. Water Pollution - Classification of Pollutants, their sources, waste water treatment (domestic and
industrial). Soil Pollution – Composition of soil, classification and effects of solid pollutants and their control.

Unit – III:
Solid Waste Pollution – Classification, waste treatment and disposal methods; compositing, sanitary land filling,
thermal processes, recycling and reuse methods. Hazardous wastes - Classification, radioactive, biomedical &
chemical, treatment and disposal- Physical, chemical and biological processes. Marine Pollution – Causes, effects
and control of marine pollution, coastal zone management. Toxic chemicals in the environment, Impact of toxic
chemicals on enzymes, biochemical effects of arsenic, cadmium, lead, chromium, mercury, biochemical effects of
pesticides.

Unit-IV:
Polymer synthesis, Environmental degradation of polymers, photodegradable polymers, hydrolysis and hydro-
biodegradable polymers, biopolymers and bioplastics, thermal degradation of plastics during recycling.
Bioaccumulation, biodegradation, bioremediation, bioleaching, Biomethanation, Introduction, Basic principles of
green technology, concept of Atom economy, Tools of Green technology, zero waste technology. Environmental
Impact Assessment, Some important Environmental laws, Green bench, Carbon Credits, Environmental
Management System standards-ISO 14000 series.

Text/Reference:
1. Roger Perman et. al., Natural Resources & Environmental Economics, 2nd Ed., Longman, USA, 2000
2. Stern, A.C. (1980), Air Pollution, Vol. 1-VIII, Academic Press.
3. James M., Lynch & Alan Wiseman, Environmental Bio-monitoring : The Biotechnology Ecotoxicology
Interface, Cambridge University Press, 1998.
4. John Glasson, Riki Therivel and Andrew Chadwick, Introduction to Environmental Impact Assessment,
2nd Ed., UCL Press, Philadelphia, USA, 1994.
5. Richard K. Morgan, Environmental Impact Assessment: A methodological perspective, Kluwar Academic
Publications, Boston, 1998.
6. Gabriel Bitton, Wastewater Microbiology, 2nd Ed., Wiley-Liss, New York, 1999.
7. Environmental Chemistry & Pollution Control, S. Chand & Co. (Latest ed.), By S.S. Dara
8. Environmental Chemistry, I.K. Publishers, 2007, Balaram Pani
9. Environmental Chemistry, New Age Int. Publ. (Latest ed.), A.K. De.
10. Environmental Studies, S.K. Kataria Publ. . (Latest ed.), S.K. Dhamija.
11. A text book in Environmental Science, Narosa Publ. 2007, V. Subramanian.

17 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Mathematics - II
Paper Code: BA – 108
L T/P Credits
3 1 4
I. Linear Algebra: Linear Independence and dependence of vectors, Systems of linear
equations – consistency and inconsisitency, Gauss elimination method, rank of a matrix,
Bilinear, Quadratic, Hermitian, Skew – Hermitian Forms, Eigenvalues and Eigenvectors of a
matrix, diagonalization of a matrix, Cayley – Hamilton Theorem (without proof).
10 hrs.
II. Ordinary Differential Equations: Formation of ODE’s, definition of order, degree and
solutions. ODE’s of first order: Method of separation of variables, homogeneous and
nonhomogeneous equations, exactness and integrating factors, linear equations and Bernouilli
equations, operator method, method of undetermined coefficients and nonhomogenous, operator
method, method of undetermined coefficients and variation of parameters. Solutions of simple
simultaneous ODE’s. Power series method of solution of DE, Legendre’s Equation, Legendre’s
Polynomials, Bessel’s equation, Bessel’s function.
10 hrs.
III. Complex Variables: Curves and Regions in the Complex Plane, Complex Functions,
Limits, Derivative, Analytic Function, Cauchy-Riemann Equations, Laplace’s Equation, Linear
Fractional Transformations, Conformal Mapping, Complex Line Integral, Cauchy’s Integral
Theorem, Cauchy’s Integral Formula, Derivatives of Analytic Function, Power Series, Taylor
Series, Laurent Series, Methods for obtaining Power Series, Analyticity at Infinity, Zeroes,
Singularities, Residues, Residue Theorem, Evaluation of Real Integrals.
18 hrs.
IV. Probability: Definition of Sample Space, Event, Event Space, Conditional Probability,
Additive and Multiplicative law of Probability, Baye’s Law theorem, Application based on these
results.
5 hrs.
Suggested Text Books & References
1. M. K. Singhal & Asha Singhal “Algebra”, R. Chand & Co.
2. Shanti Narayan, “Matrices” S. Chand & Co.
3. G. B. Thomas and R. L. Finney, “Calculus and Analytic Geometry” Addison Wesley
/ Narosa.
4. E. Kreyszig, “Advanced Engineering Mathematics”, 5th Edition, Wiley Eastern Ltd.
1985.
5. N. M. Kapoor “Differential Equations” Pitamber Pub. Co.
6. Schaum Outline Series “Differential Equations” Mc. Graw Hill.
7. Schaum Outline Series “Complex Variables” Mc. Graw Hill.
8. Schaum Outline Series “Linear Algebra” Mc. Graw Hill.
9. Schaum Outline Series “Probability” Mc. Graw Hill

18 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
PHYSICS - II

Paper Code: BA – 110


L T/P Credits
2 1 3

I. Quantum Mechanics
Wave particle duality, deBroglie waves, evidences for the wave nature of matter – the
experiment of Davisson and Germer, electron diffraction, physical interpretation of the
wave function and its properties, the wave packet, the uncertainty principle

4 hrs.

The Schrodinger wave equation (1 – dimensional), Eigen values and Eigen functions,
expectation values, simple Eigen value problems – solutions of the Schrodinger’s
equations for the free particle, the infinite well, the finite well, tunneling effect, simple
harmonic oscillator (qualitative), zero point energy.

6 hrs.

II. Quantum Statistics


The statistical distributions: Maxwell Boltzmann, Bose-Einstein and Fermi-Dirac
statistics, their comparisons, Ferminos and Bosons Applications: Molecular speed and
energies in an ideal gas. The Black body spectrum, the failure of classical statistics to
give the correct explanations – the applicatons of Bose-Einstein statistics to the Black
body radiation spectrum, Fermi-Dirac distribution, free electron theory, electronic
specific heats, Fermi energy and average energy – its significance.

10 hrs.

III Band Theory of Solids


Origin of energy bands in solids, motion of electrons in a periodic potential – the Kronig
– Penny model. Brillouin zones, effective mass, metals, semi-conductors and insulators
and their energy band structures. Extrinsic and Intrinsic semiconductors, doping – Fermi
energy for doped and undoped semiconductors, the p-n junction (energy band diagrams
with Fermi energy), the unbiased diode, forward and reverse biased diodes – tunnel
diodes, zener diode, photo diode its characteristics, LED, Introduction to transistors.

10 hrs.

IV Overview of Electro – Magnetism


Maxwell’s Equations: The equation of continuity for Time – Varying fields,
Inconsistency in ampere’s law Maxwell’s Equations, conditions at a Boundary Surface,
Introduction to EM wave.

4 hrs.

19 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Recommended Books

1. Concept of Modern Physics: A. Beiser


2. Modern Physics: Kenneth Krane
3. Solid State Physics by Kittle
4. Electronic Principles: Malvino
5. Statistical Mechanics by Garg Bansal and Ghosh (TMH)

20 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Code: EC 112 L T/P C
Paper ID: 101112 Paper: Signal and Systems 2 1 3
INSTRUCTIONS TO PAPER SETTERS: Maximum Marks : 60
1. Question No. 1 should be compulsory and cover the entire syllabus. This question should have objective or short answer type questions. It should be of 20
marks.
2. Apart from Question No. 1, rest of the paper shall consist of four units as per the syllabus. Every unit should have two questions. However, student may
be asked to attempt only 1 question from each unit. Each question should be 10 marks

(Each unit of 07 hours.)

Unit- I
Continuous and discrete time signals: Classification of Signals – Periodic aperiodic even – odd – energy and power
signals – Deterministic and random signals – complex exponential and sinusoidal signals – periodicity – properties
of discrete time complex exponential unit impulse – unit step impulse functions – Transformation in independent
variable of signals: time scaling, time shifting. Determination of Fourier series representation of continuous time and
discrete time periodic signals – Explanation of properties of continuous time and discrete time Fourier series.
Representation of continuous time signals by its sample - Sampling theorem – Reconstruction of a Signal from its
samples, aliasing – discrete time processing of continuous time signals, sampling of band pass signals.

Unit – II:
Continuous time Fourier Transform and Laplace Transform analysis with examples – properties of the Continuous
time Fourier Transform and Laplace Transform basic properties, Parseval’s relation, and convolution in time and
frequency domains.
Basic properties of continuous time systems: Linearity, Causality, time invariance, stability, magnitude and Phase
representations of frequency response of LTI systems -Analysis and characterization of LTI systems using
Differential Equations and Continuous time LTI systems. Laplace transform: Computation of impulse response and
transfer function using Laplace transform.

Unit – III:
Discrete time system analysis using Difference equations, Discrete Time Fourier Transform, Discrete Fourier
Transform, FFT and their property and usage in the analysis of Discrete time systems.
Basic principles of z-transform - z-transform definition – region of convergence – properties of ROC – Properties of
z-transform – Poles and Zeros – inverse z-transform using Contour integration - Residue Theorem, Power Series
expansion and Partial fraction expansion, Relationship between z-transform and Fourier transform. Properties of
convolution and the interconnection of LTI Systems – Causality and stability of LTI Systems. Computation of
Impulse & response & Transfer function using Z Transform.

Unit – IV:
Systems with finite duration and infinite duration impulse response – recursive and non-recursive discrete time
system – realization structures – direct form – I, direct form – II, Transpose, cascade and parallel forms.

Text / Reference:
1. AlanV.Oppenheim, Alan S.Willsky with S.Hamid Nawab, Signals & Systems, 2nd edn., Pearson
Education, 1997.
2. John G.Proakis and Dimitris G.Manolakis, Digital Signal Processing, Principles, Algorithms and
Applications, 3rd edn., PHI, 2000.
3. M.J.Roberts, Signals and Systems Analysis using Transform method and MATLAB, TMH 2003.
4. Simon Haykin and Barry Van Veen, Signals and Systems, John Wiley, 1999
5. K.Lindner, “Signals and Systems”, McGraw Hill International, 1999.
6. Moman .H. Hays,” Digital Signal Processing “, Schaum’s outlines, Tata McGraw-Hill Co Ltd., 2004.
7. B. P. Lathi, “Signal Processing and Linear System”, Berkeley Cambridge Press, 1998.
8. H. P. Hsu, “Schaum’s Outlines of The Theory and Problems of Signals and Systems”, McGraw-Hill, 1995.
9. S. Poornachandra, “Signal and Systems”, Thomson Learning, 2004.

21 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
Practicals:

Code: EC152 L T/P C


Paper ID:101152 Paper: Analog Electronics – I and Signal and Systems Lab. 0 4 2

Practicals based on EC104 and EC112.

Code: IT154 L T/P C


Paper ID:15154 Paper: Engineering Graphics Lab. 0 2 1

Basic Concepts
I. S. drawing conventions, line symbols, kinds of line, drawing sheet lay-out, rules of printing, preferred
scales.

2. Projections
Perspective, orthographic, isometric and oblique projections, isometric scale, isometric drawing, Technical
sketching.

3. Shape Description (External)


Multiplanar representation in first- and third angle systems of projections, glass-box concept, sketching of
orthographic views from pictorial views, precedence of lines.

Sketching of pictorial (isometric and oblique) views from Multiplanar orthographic views, Reading
exercises, Missing line and missing view exercises.

4. Shape Description (Internal)

Importance of sectioning, principles of sectioning, types of sections, cutting plane representation, section
lines, conventional practices.

5. Size Description

Dimensioning, tools of dimensioning, Size and location dimensions, Principles of conventions of


dimensioning, Dimensioning exercises.

6. Computer Aided Drafting

Basic concepts and use.

Code: BA156 L T/P C


Paper ID:99156 Paper: Physics– II Lab. 0 2 1

Practicals based on BA110.

Code: EM158 L T/P C


Paper ID:99158 Paper: Environment Studies Lab. 0 2 1

Practicals based on BA106.

Code: HS160 L T/P C


Paper ID:98160 Paper: Communications Skills - II Lab. 0 2 1

Practicals based on HS102.

22 B. Tech./M. Tech. (ECE) (Dual Degree) Scheme & Syllabus upto 8th semester approved by BOS on 25th March,2011 and by Academic
Council Sub Committee held on 11th May, 2011
w.e.f. Academic Session 2011-2012
'!#+!"(#"

', 

4=@

/163:=@ !/AB3@=4(316<=:=5GC/:35@33
:31B@=<71A/<2=;;C<71/B7=<A<57<33@7<5

#443@320G

)<7D3@A7BG'16==:=4<4=@;/B7=<(316<=:=5G

'('!'(&(#('!'(&

C@C=07<2'7<56<2@/>@/AB6/)<7D3@A7BG
/A6;3@3/B33:67 I

-".


!!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
=23'
( $ 
$/>3@
$/>3@=;;C<71/B7=<'97::A I
"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

'G7EF;A@$A  E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE *:;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@E FE:AG>647A8


?3D=E
B3DF8DA?'G7EF;A@$A  D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GE H7DKG@;FE:AG>6:3H7FIACG7EF;A@E AI7H7DEFG67@F?3K
473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F 35:CG7EF;A@E:AG>647 ?3D=E

 (7?76;3>D3??3D
3 );?B>7E7@F7@57E MF:7;DB:D3E7EFDG5FGD7
4 &3DFEA8EB775:
5 *7@E73@65A@5AD6
6 7DG@6E&3DF;5;B>7E@8;@;F;H7E
7 A?B>7J3@6A?BAG@6E7@F7@57E+E7A85A@@75F;H7E
8 A@6;F;A@3>5>3GE7E
9 'G7EF;A@F39EE:ADFD7EBA@E7E
: A??A@7DDADE

   



3 )K@A@K?E@FA@K?E
4 %@7IAD6EG4EF;FGF;A@E
5 -AD6EA8F7@5A@8GE76
6 6;A?E
6;A?3F;57JBD7EE;A@E
7 AD7;9@&:D3E7ED77=3@6"3F;@

 &D7E7@F3F;A@A8*75:@;53>@8AD?3F;A@
*75:@;53>67E5D;BF;A@A8
3 );?B>7A4<75FEFAA>E3BB>;3@57E
4 &DA57EE7E3@6AB7D3F;A@E
5 )5;7@F;8;5BD;@5;B>7E

, A?BAE;F;A@
3 A?BD7:7@E;A@ M+@E77@B3EE397E
4 ;3>A9G7E MD73F;A@A8?A5=E;FG3F;A@E
5 743F7E M;E5GEE;@9F:7BDAE3@65A@EA839;H7@FAB;5
6 *:7?3F;5BBD75;3F;A@J7D5;E7E
7H7>AB?7@FA8E;FG3F;A@3>AGF>;@7E

 
)7>75F76BDAE7B;757E8DA?BD7E5D;476F7JFE

!!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
=23
( $ 
$/>3@ 
$/>3@ (63=@G/<2(316<=:=5G=4'3;71=<2C1B=@A 
"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

'G7EF;A@$A  E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE *:;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@E FE:AG>647A8


?3D=E
B3DF8DA?'G7EF;A@$A  D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GE H7DKG@;FE:AG>6:3H7FIACG7EF;A@E AI7H7DEFG67@F?3K
473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F 35:CG7EF;A@E:AG>647 ?3D=E

/16C<7B=4
6=C@A
)<7B
(/)*#(&'(*")%(&-*!&$"&%+*&() *KB7EA8)A>;6E3@6F:7;D7>75FD;53>BDAB7DF;7E )7?;5A@6G5FAD
#3F7D;3>E&7D;A6;5)FDG5FGD7EDKEF3>"3FF;57EG>=DKEF3>DAIF:)F3DF;@9#3F7D;3>E-387DEAB;@9B;F3J;3>
DAIF:"3FF;57E#3F5:;@9;@B;F3J;3>DAIF:,3BAD&:3E7B;F3JK#A>75G>3D73?B;F3JK
*&$)%#*(&%)&:KE;53>#A67>EJB7D;?7@F3>%4E7DH3F;A@E&:AFA7>75FD;58875FFA?;5)B75FD3'G3@FG?
#75:3@;5E+@57DF3;@FK&D;@5;B>7)5:DA6;@97D-3H7CG3F;A@&AF7@F;3>-7>>&DA4>7?*G@@7>>;@9FA?;5
)FDG5FGD73@6F:7&7D;A6;5*34>7*:7K6DA97@FA?

)<7B I
%( /%)%!( (("()"%$"&%+*&()3@6F:7ADK8ADEA>;6EE7?;5A@6G5FADEFKB7E:3D97
53DD;7DE3@6F:7;DBDAB7DF;7E 7D?;"7H7>@H3D;3@57A8F:77D?;>7H7>3F7CG;>;4D;G? 3DD;7D 5A@57@FD3F;A@3F
CG;>;4D;G?*7?B7D3FGD7 3@66AB;@978875FA@ 53DD;7D5A@57@FD3F;A@5A@6G5F;H;FK3@6?A4;>;FKA?B7@E3F;A@3@6
)B357:3D97$7GFD3>;FK 8875FA8>75FD;53@6#39@7F;5;7>6ED;8F3@6(7E;EF3@57;9: M8;7>678875FE*:73>>
78875F

)<7B I
.))(("()"%$"&%+*&()%BF;53>34EADBF;A@%BF;53>3@6>75FDA"G?;@7E57@57B:AFA5A@6G5F;H;FK
6;D75F3@6;@6;D75F5A?4;@3F;A@A87>75FDA@E3@6:A>7E)F736KEF3F73DD;7D@<75F;A@53DD;7D6;88GE;A@3@66D;8F
;88GE;A@"7@9F:3K@7E):A5=>7KJB7D;?7@FD36;7@FE;@'G3E;7D?;"7H7>

)<7B I*
+%*"&%)34D;53F;A@A8B@ G@5F;A@*:7D?3>AJ;63F;A@6;88GE;A@D3B;6F:7D?3>BDA57EE;@9;A@;?B>3@F3F;A@
5:7?;53>H3BAD67BAE;F;A@B:AFA>;F:A9D3B:K7F5:;@9?7F3>>;L3F;A@ A@F35FBAF7@F;3>CG;>;4D;G?7D?;"7H7>E
)B357:3D973F G@5F;A@ G@5F;A@;3E;@9 GDD7@F8>AI35DAEE<G@5F;A@07@7D4D73=6AI@(75F;8;7DE*D3@E;7@F
3@65A@6;F;A@E,3D;3F;A@A8EFAD765:3D9753B35;F3@57A8B@<G@5F;A@E*D3@E;F;A@D79;A@BDAB7DF;7E%:?;5
>AEE7E9D3676<G@5F;A@E#7F3>E7?;5A@6G5FAD G@5F;A@E)5:AFF=K3DD;7DE(75F;8K;@95A@F35FE%:?;55A@F35FE
7FDA<G@5F;A@E6;887D7@FFKB7EA86;A67E3@6F:7;DBD;AB7DF;7E %BF;53>7H;57E3@6F:7;DBDAB7DF;7E)7?;5A@6G5FAD
&AI7D7H;57E

(3FB &343@3<13

 )FD77F?3@O)A>;6)F3F7>75FDA@;57H;57EP&D7@F;573>> 
  $73?7@O)7?;5A@6G5FAD&:KE;5E3@67H;57E3E;5&D;@5;B>7EP#5D3I;>> D66 
 ) # )L73@6! ! $9O&:KE;5EA8)7?;5A@6G5FAD7H;57EP-;>7K  D66 

 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
=23(
 ( $ 
$/>3@ 
 $/>3@<B@=2C1B7=<(==;>CB3@A

$@3@3?C7A7B3

 !/B6A

7;
(=4/;7:7/@7H3E7B60/A711=<13>BA=41=;>CB3@;3;=@GAB=@/5323D713A/<21=;>CB7<5
#0831B7D3A
 (=C<23@AB/<2B631=<13>B=4$@=5@/;;7<5

"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

'G7EF;A@$A  E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE *:;ECG7EF;A@E:AG>6:3H7A4<75F;H7AD


E:ADF3@EI7DFKB7CG7EF;A@E FE:AG>647A8 ?3D=E
B3DF8DA?'G7EF;A@$A  F:7EFG67@FEE:AG>6473E=76FA3FF7?BF CG7EF;A@E8DA?G@;F CG7EF;A@E
AGFA8 3@63FF7?BFCG7EF;A@E8DA?+@;FCG7EF;A@E AGFA8

)<7B I
@FDA6G5F;A@
3F3 D7BD7E7@F3F;A@ $G?47D EKEF7?E 5:3D35F7D D7BD7E7@F3F;A@ 5A67E ;@3DK :7J A5F3> 5A67E 3@6 F:7;D ;@F7D
5A@H7DE;A@E ;@3DK3D;F:?7F;5>A3F;@9BA;@F3D;F:?7F;5E;9@763@6G@E;9@76@G?47DE 3F3)FAD397&D;?3DK3@6
)75A@63DKEFAD397
A@57BFA85A?BGF;@95A@F7?BAD3DK%B7D3F;@9)KEF7?E EG5:3E%)-;@6AIEN+$.7F5 A@>K4D;78 GE7D
>7H7>67E5D;BF;A@ @FDA6G5F;A@FAAD93@;L3F;A@3@63D5:;F75FGD7A8?3;@8D3?7?;@;3@6?;5DAEKEF7?E  @FDA6G5F;A@
FA&DA9D3??;@9A@57BFA83>9AD;F:?E>AI5:3DFEJ3?B>7A8>9AD;F:?EEG5:3E:AIFA366F7@@G?47DEDAAFE
A8 3 CG36D3F;5 7CG3F;A@  A@57BF A8 E7CG7@F;3>>K 8A>>AI;@9 GB F:7 EF7BE A8 3 3>9AD;F:? $AF;A@ A8 BDA9D3?
BDA9D3??34;>;FK3@6BDA9D3??;@9>3@9G397E)FDG5FGD7A8BDA9D3?E%4<75F5A67E5A?B;>7DE
)"(
@FDA6G5F;A@FAF:76;F;@9FAA>EEG5:3EH;AD#),76;FADE A@57BFEA8F:78;@;F7EFAD3974;FE4KF7E=;>A?793
3@69;934KF7EA@57BFEA85:3D35F7DD7BD7E7@F3F;A@ >9AD;F:?
BE7G6A5A678>AI5:3DFBDA9D3?67H7>AB?7@F
EF7BEEFDG5FGD7A8BDA9D3?);?B>7BDA9D3?;67@F;8;7DE43E;563F3FKB7E3@6E;L7EA@EF3@FEH3D;34>7E
3D;F:?7F;5D7>3F;A@3>3@6>A9;53>AB7D3FADE;@5D7?7@F3@6675D7?7@FAB7D3FADE5A@6;F;A@3>AB7D3FAD4;FI;E7
AB7D3FADE3EE;9@?7@F AB7D3FADE7JBD7EE;A@EFKB75A@H7DE;A@E5A@6;F;A@3>7JBD7EE;A@EBD75767@573@6AD67DA8
7H3>G3F;A@ @BGFAGFBGFEF3F7?7@FEEF3F7?7@FE3@64>A5=E;83@6EI;F5:EF3F7?7@FE>AABEI:;>76AI:;>73@68AD
EF3F7?7@FE4D73=5A@F;@G79AFA3@6>347>EBDA9D3??;@97J3?B>7E

)"(
7E;9@;@9EFDG5FGD76BDA9D3?EG@5F;A@E43E;5EB3D3?7F7DB3EE;@9EFAD3975>3EE7E7JF7D@3GFA
D79;EF7DEF3F;5E5AB7DG>7E4>A5=EFDG5FGD7GE7D678;@768G@5F;A@EEF3@63D6>;4D3DK8G@5F;A@ED75GDE;H7DD3KE
5A@57BFE675>3D3F;A@678;@;F;A@3557EE;@97>7?7@FEEFAD;@97>7?7@FE3DD3KE3@68G@5F;A@EFIA6;?7@E;A@3>3@6
?G>F;6;?7@E;A@3>3DD3KE3BB>;53F;A@EA83DD3KE
BA;@F7DE5A@57BFE;@;F;3>;L3F;A@A8 BA;@F7DH3D;34>7EBA;@F7DE3@68G@5F;A@3D9G?7@FE366D7EE3D;F:?7F;5:3D35F7D
BA;@F7DE3@68G@5F;A@EBA;@F7DEFABA;@F7DEBA;@F7DE3@6?G>F;6;?7@E;A@3>3DD3KE6K@3?;5?7?ADK?3@397?7@FE
8G@5F;A@E5A??3@6>;@73D9G?7@FE5BDA9D3?7J3?B>7E

)"(*
7D;H76FKB7EEFDG5FGD7E675>3D3F;A@678;@;F;A@3@6;@;F;3>;L3F;A@A8EFDG5FGD7E3557EE;@9EFDG5FGD7E
@7EF76EFDG5FGD7E3DD3KEA8EFDG5FGD7EEFDG5FGD7E3@68G@5F;A@EBA;@F7DEFAEFDG5FGD7EE7>8D787D7@F;3>
EFDG5FGD7EG@;A@EFKB76784;F8;7>6EBDA9D3?7J3?B>7E @BGF3@6AGFBGF M5A@57BFA838;>7F7JF8;>7E3@64;@3DK
8;>7EEFD73?EEF3@63D6
AAD?3FF76
A8;>7
A AB7D3F;A@E7DDAD:3@6>;@9BDA9D3?7J3?B>7E

(+(##'
A?BGF7DE5;7@57EFDG5FGD76BDA9D3??;@93BBDA35:GE;@9  ADAGL3@3@6( 
;>47D9*:;D676;F;A@*:A?EA@
3F3)FDG5FGD7E+E;@9 M ) *3@7@43G?/ "3@9E3?3@6# G97@EF7;@&
&73DEA@

 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
76G53F;A@
&&"'
3F3EFDG5FGD7E M& &36?3@34:3? ) &G4>;53F;A@E
*:7&DA9D3??;@9"3@9G397 - !7D@;9:3@7@@;E# (;F5:;7
&
&73DEA@6G53F;A@
 &DA9D3??;@9I;F:BDA4>7?EA>H;@9   A@7E! 3DDAI
6D73?F75:&D7EE
 &DA9D3??;@9;@ M)F7B:7@ !A5:3@6;F;A@&73DEA@6G5F3;A@
 3F3)FDG5FGD7E3@6&DA9D3?7E;9@;@( !DGE7 " *A@6A&"7G@9):3E:;#)75A@6
6;F;A@&73DEA@6G53F;A@

 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
=23
  (
$/>3@

  

$/>3@ "3BE=@9</:GA7A
$@3@3?C7A7B3A
 $6GA71A/<2!/B63;/B71A

7;
(=:3/@<4C<2/;3<B/:A=417@1C7B/</:GA7ACA7<5D/@7=CAB316<7?C3A

#0831B7D3
 (=ABC2GB631=<13>B=4/<3:31B@71/:17@1C7B/<23:31B@71/:3:3;3<BA/1B7D3/<2$/AA7D3
 (=CA3D/@7=CA@C:3A/<2B63=@3;AB=A=:D3>@=0:3;A=417@1C7B/</:GA7A
 (=>3@4=@;/<2/</:GA7A=417@1C7BA
"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

'G7EF;A@$A  E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE *:;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@E FE:AG>647A8


?3D=E
B3DF8DA?'G7EF;A@$A  D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GE H7DKG@;FE:AG>6:3H7FIACG7EF;A@E AI7H7DEFG67@F?3K
473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F 35:CG7EF;A@E:AG>647 ?3D=E

/16C<7B=4
6=C@A
)<7B I
;D5G;FE,A>F397673>,A>F397)AGD57GDD7@F673>GDD7@F)AGD57E>3EE;8;53F;A@A8;D5G;FE%:?NE"3I
(7E;EF;H7>K*7?B7D3FGD78875F(7E;EFADE(7E;EFAD&AI7D4EADBF;A@$A?;@3>,3>G7E3@6*A>7D3@57EA>AGD
A67E%B7@3@6):ADF;D5G;FE@F7D@3>(7E;EF3@57 %B7D3F;A@3>?B>;8;7DE 3B35;F3@57@6G5F3@57
*D3@E8AD?7DE

)<7B 
;D5G;FE)7D;7E3@6&3D3>>7>;D5G;FE!;D5::A88NE,A>F3973@6GDD7@F"3I#7E:@3>KE;E"AAB@3>KE;E
$A63>@3>KE;E*:7H7@;@NE3@6$ADFA@NE*:7AD7?#3J;?G?&AI7D*D3@E87D*:7AD7?)GB7DBAE;F;A@*:7AD7?
#;>>?3@NE*:7AD7?*7>>797@E*:7AD7?/  3@6 /*D3@E8AD?3F;A@D;697;D5G;FE

)<7B I
;D5G;FE;D5G;FE5A@F3;@;@93B35;FADE3@6@6G5FADE*D3@E;7@F(7EBA@E7>F7D@3F;@9GDD7@F3@6,A>F397E
&:3EADE?B767@57E3@66?;FF3@57#7E:@3>KE;E"AAB@3>KE;E$A63>@3>KE;E*:7H7@;@NE3@6$ADFA@NE
*:7AD7?/  3@6 /*D3@E8AD?3F;A@D;697;D5G;FE (7EA@3@F;D5G;FEA?B>7JD7CG7@5K3@6$7FIAD=
G@5F;A@#3J;?G?&AI7D*D3@E87D*:7AD7?)GB7DBAE;F;A@*:7AD7?

)<7B*
*IABADF$7FIAD=E &3EE;H7;>F7DE D3B:*75:@;CG7E8AD$7FIAD=@3>KE;E"3B>357*D3@E8AD?EAGD;7DE7D;7E
3@6*D3@E8AD?#7F:A6E8AD$7FIAD=@3>KE;E

(3FB==9A
* AD8
* 7>FADAP>75FD;53>@99G@63?7@F3>EP @66;F;A@&D7@F;573>>@6;3
* H3@,3>=7@47D9O$7FIAD=@3>KE;EP&
&73DEA@
*  ( :AG6:3DKO$7FIAD=E3@6)KEF7?EP$7I97@F7D@3F;A@3> 

&343@3<1==9A

( ! ) ) !G?3DO>75FD;5;D5G;FE3@6$7FIAD=EP&73DEA@ 
(  - $;>EEA@3@6)  (;767>O>75FD;5;D5G;FEP&73DEA@ 
( 3KF!7??7D>K

 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%
*!% %
*! &% *!%

-$"))"&%
 
 
=23
 ( $ 
$/>3@ 
 $/>3@ !/B63;/B71A 

/ /:1C:CA=44C<1B7=<A=4#<3D/@7/0:3

; )G557EE;H7 ;887D7@F;3F;A@ "7;4@;FLE F:7AD7? I;F:AGF BDAA8  "39D3@97E *:7AD7? 3G5:K
#73@H3>G7F:7AD7?E*3K>ADEF:7AD7?I;F:AGFBDAA8(7?3;@67DF7D?EK?BFAF7EGDH3FGD7
GDH7*D35;@9
6@A

;; @8;@;F7 )7D;7E A@H7D97@57 6;H7D97@57 A?B3D;EA@ F7EF (3F;A@ *7EF 3G5:K @ F: DAAF F7EF
"7;4@;FLE F7EF I;F:AGF BDAA8 4EA>GF7 3@6 A@6;F;A@3> A@H7D97@57 *3K>AD 3@6 #75>3GD;@
E7D;7E&AI7D)7D;7E(36;GEA8A@H7D97@57
6@A

;;; @F79D3>3>5G>GE(76G5F;A@AD?G>37A8FD;9A@A?7FD;58G@5F;A@E&DAB7DF;7EA8678;@;F7@F79D3>
BB>;53F;A@EFA>7@9F:3D73HA>G?7EGD8357A8D7HA>GF;A@78;@;F;A@A8;?BDAB7D;@F79D3>E7F3
3??38G@5F;A@E
6@A

0 /:1C:CA=4C<1B7=<A=4A3D3@/:D/@7/0:3A

&3DF;3>67D;H3F;H7E:3;@DG>7;887D7@F;3F;A@A8?B>;5;F8G@5F;A@EJ35F6;887D7@F;3>E #3J;?3#;@;?3
3@6 E366>7 BA;@FE #7F:A6 A8 "39D3@97 ?G>F;B>;7DE  ;887D7@F;3F;A@ G@67D @F79D3> E;9@ 35A4;3@E 3@6
FD3@E8AD?3F;A@EA85AAD6;@3F7E AG4>73@6*D;B>7;@F79D3>E );?B>73BB>;53F;A@EFA3D73E,A>G?7E7F5

6@A

 *31B=@/:1C:CA

)53>3D 3@6 H75FAD 8;7>6E GDH7E D5 >7@9F: *3@97@F @AD?3> ;D75F;A@3> 7D;H3F;H7 D36;7@F A8 E53>3D
8;7>6 6;H7D97@57 3@6 5GD> A8 3 H75FAD 8;7>6  ";@7 ;@F79D3> ;@67B7@67@F A8 B3F: D77@E F:7AD7?
;H7D97@57F:7AD7?3@6)FA=7EF:7AD7?I;F:AGFBDAA8E)GD8357@F79D3>E
6@A

 
 

   *:A?3E 3@6 ( "  ;@@7K 3>5G>GE 3@6 @3>KF;5 7A?7FDK F: 76;F;A@ 66;EA@-7E>7K
$3DAE3

):3@F;$3D3K3@;887D7@F;3>3>5G>GE) :3@6A
 ):3@F;$3D3K3@@F79D3>3>5G>GE) :3@6A
 D7I3> ) ;9:7D@9;@77D;@9#3F:7?3F;5E!:3@@3&G4>
  !D7KEL;96H3@576@9;@77D;@9#3F:7?3F;5EF:6;F;A@-;>7K3EF7D@ 
 #GDD3K( )B;797>*:7ADK 3@6&DA4>7?EA8,75FADE @3>KE;E)5:3G?E%GF>;@7)7D;7E#5D3I;>>
6
 )  #3>;=#3F:7?3F;53>@3>KE;E-;>7K3EF7D@"F6
 6H3@5763>5G>GE)5:3G?E%GF>;@7)7D;7E#5D3I;>>6
 -;667D6H3@5763>5G>GE @66;F;A@&D7@F;573>>&G4>;E:7DE

 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
=23 ( $ 
$/>3@  $/>3@ $6GA71A I

 #$('
$=:/@7H/B7=<
*KB7E A8 BA>3D;L3F;A@ 7>>;BF;53>>K 3@6 5;D5G>3D>K BA>3D;L76 >;9:F D7IEF7DE >3I #3>GE >3I $;5A> BD;E? 6AG4>7
D78D35F;A@CG3DF7DI3H73@6:3>8I3H7B>3F7EABF;53>35F;H;FKEB75;8;5DAF3F;A@"3GD7@F:3>8E:367BA>3D;?7F7D
6@A
<B3@43@3<13
A:7D7@573@65A:7D7@FEAGD57E;@F7D87D7@574K6;H;E;A@A8I3H78DA@FKAG@9E6AG4>7E>;F7JB7D;?7@FD7E@7>E
4;BD;E?;@F7D87D7@574K6;H;E;A@A83?B>;FG67F:;@8;>?E$7IFA@ED;@9E#;5:7>EA@E;@F7D87DDA?7F7D34DK&7DAF
;@F7D87DDA?7F7D
6@A
744@/1B7=<
D7E@7>3@6D3G@:A87DFKB7EA86;88D35F;A@D3G@:A87D6;8D35F;A@);@9>7E>;F6AG4>7E>;F5;D5G>3D3B7DFGD73@6$
E>;F6;88D35F;A@9D3F;@9I3H7>7@9F:67F7D?;@3F;A@D7EA>H;@9 BAI7D3@66;EB7DE;H7BAI7DD7E@7>;88D35F;A@0A@7
B>3F75;D5G>3D3B7DFGD7AB3CG75;D5G>3D6;E5@3DDAIE>;F
6@A
 '&"&#$('
/A3@A
@FDA6G5F;A@5A:7D7@57;@EF7;@3@65A788;5;7@FEBABG>3F;A@;@H7DE;A@43E;5BD;@5;B>73@6AB7D3F;A@A83
>3E7DFKB7A8>3E7DE7$7>3E7D(G4K>3E7DE7?;5A@6G5FAD>3E7D:A>A9D3B:KF:7ADK3@63BB>;53F;A@E
6@A
70@3#>B71A
@FDA6G5F;A@FAABF;53>8;4D7FKB7EA8ABF;53>8;4D7E3@6F:7;D5:3D35F7D;EF;5EFF7@G3F;A@ 3@66;EB7DE;A@EF7B;@67J
3@69D3676;@67J8;4D7EBD;@5;B>7A88;4D7ABF;55A??G@;53F;A@FAF3>;@F7D@3>D78>75F;A@@G?7D;53>3B7DFGD78;4D7
ABF;53>5A??G@;53F;A@@7FIAD=CG3>;F3F;H7;FE36H3@F397E
6@A
 (63=@G=4@3:/B7D7BG
4EA>GF7 3@6@7DF;3>8D3?7EA8D787D7@573>7@>;3@FD3@E8AD?3F;A@E#;5:7>EA@#AD>7K7JB7D;?7@FF:7BAEFG>3F7E
A8F:7EB75;3>F:7ADKA8D7>3F;H;FK"AD7@FLFD3@E8AD?3F;A@EF;?76;>3F;A@>7@9F:5A@FD35F;A@H7>A5;FK366;F;A@?3EE
7@7D9K7CG;H3>7@57
6@A
&31=;;3<232==9A
A@57BFEA8#A67D@&:KE;5E 7;E7D
#A67D@&:KE;5E!7@@7F:!D3@7
 G@63?7@FEA8%BF;5E 7@=;@E3@6-:;F7
 %BF;5E:3F3=
 G@63?7@F3>A8&:KE;5E4K()$!""/

 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
$@/1B71/:A

=23  ( $ 
$/>3@  $/>3@ (63=@G/<2(316<=:=5G=4'3;71=<2C1B=@A /0

&D35F;53>E43E76A@ 

=23  ( $ 
$/>3@  $/>3@$6GA71AI /0

&D35F;53>E43E76A@ 

=23(  ( $ 
$/>3@   $/>3@=;>CB3@ /0

&D35F;53>E43E76A@* 

=23(  ( $ 
$/>3@   $/>3@<57<33@7<5@/>671A I

7@7D3>
?BADF3@57);9@;8;53@573@6E5AB7A87@9;@77D;@96D3I;@9"7FF7D;@9;?7@E;A@;@9)53>7E)7@E7A8
BDABADF;A@;@9;887D7@FFKB7EA8BDA<75F;A@E%DF:A9D3B:;5BDA<75F;A@E  ) )B75;8;53F;A@E

&DA<75F;A@EA8&A;@FE3@6";@7E
@FDA6G5F;A@A8B>3@7EA8BDA<75F;A@(787D7@573@63GJ;>;3DKB>3@7EBDA<75F;A@EA8BA;@FE3@6>;@7E;@
6;887D7@FCG36D3@FEFD357E;@5>;@3F;A@E3@6FDG7>7@9F:EA8F:7>;@7EBDA<75F;A@EA@3GJ;>;3DKB>3@7E
E:ADF7EF6;EF3@57;@F7DE75F;@93@6@A@;@F7DE75F;@9>;@7E

 &>3@7E%F:7DF:3@F:7(787D7@57&>3@7E
@FDA6G5F;A@A8AF:7DB>3@7EB7DB7@6;5G>3D3@6A4>;CG7F:7;DFD357E;@5>;@3F;A@E7F5 BDA<75F;A@EA8BA;@FE
3@6>;@7E>K;@9;@F:7B>3@7E5A@H7DE;A@A8A4>;CG7B>3@7;@FA3GJ;>;3DKB>3@73@6EA>GF;A@A8D7>3F76
BDA4>7?E

 &DA<75F;A@EA8&>3@7;9GD7E
;887D7@F53E7EA8B>3@78;9GD7EA86;887D7@FE:3B7E?3=;@96;887D7@F3@9>7EI;F:A@7AD4AF:D787D7@57
B>3@7E3@6>;@7E>K;@9;@F:7B>3@78;9GD7E?3=;@96;887D7@F9;H7@3@9>7EI;F:A@7AD4AF:D787D7@57
B>3@7E %4F3;@;@9FDG7E:3B7A8F:7B>3@78;9GD74KBDA<75F;A@

 &DA<75F;A@A8)A>;6E
);?B>753E7EI:7@EA>;6;EB>3576;@6;887D7@FBAE;F;A@EJ;E8357E3@6>;@7E>K;@9;@F:78357EA8F:7EA>;6
?3=;@99;H7@3@9>7E

 7H7>AB?7@FA8)GD8357
7H7>AB?7@FA8E;?B>7A4<75FEI;F:3@6I;F:AGFE75F;A@;@9

 $A?A9D3B:K
3E;55A@57BFE3@6GE7

=23  ( $ 
$/>3@
 $/>3@"3BE=@9</:GA7A /0

&D35F;53>E43E76A@ 

!!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
=23'  ( $ 
$/>3@  $/>3@ =;;C<71/B7=<A'97::A I /0

&D35F;53>E43E76A@ )

!!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
=23'
( $ 
$/>3@
$/>3@=;;C<71/B7=<'97::A I

)A?7!7KA@57BFE
A??G@;53F;A@3EE:3D;@95A@F7JFA85A??G@;53F;A@F:7EB73=7D
ID;F7D3@6F:7>;EF7@7D
D7367D?76;G?
A85A??G@;53F;A@43DD;7DEFA5A??G@;53F;A@355GD35K4D7H;FK5>3D;FK3@63BBDABD;3F7@7EE;@
5A??G@;53F;A@

-D;F;@9
)7>75F;@9?3F7D;3>8AD7JBAE;FADK67E5D;BF;H73@63D9G?7@F3F;H7B;757E4GE;@7EE>7FF7DE8AD?3>D7BADF
EG??3D;L;@93@634EFD35F;@97JBD7EE;@9;673EI;F:;@3D7EFD;5F76IAD6>;?;FB3D39D3B:6;H;E;A@
;@FDA6G5F;A@3@6 F:75A@5>GE;A@>;EF;@9D787D7@57?3F7D;3>GE7A85:3DFE9D3B:E3@6F34>7EBG@5FG3F;A@3@6
EB7>>;@9E7?3@F;5EA85A@@75F;H7E?A6;8;7DE3@6?A63>EH3D;7FK;@E7@F7@57E3@6B3D39D3B:E

 (736;@9A?BD7:7@E;A@
(736;@93FH3D;AGEEB776EE>AI83EF H7DK83EFD736;@96;887D7@F=;@6EA8F7JFE8AD6;887D7@FBGDBAE7E7 9 
8ADD7>3J3F;A@8AD;@8AD?3F;A@8AD6;E5GEE;A@3F3>3F7DEF3977F5 D736;@947FI77@F:7>;@7E

 )B73=;@9
5:;7H;@967E;D765>3D;FK3@68>G7@5K?3@;BG>3F;@9B3D3>;@9G;EF;5873FGD7EA8EB73=;@9HA;57CG3>;FK
B;F5:FA@77F5 B3GE;@98AD78875F;H7@7EEI:;>7EB73=;@9F3E=AD;7@F76;@F7DB7DEA@3>;@8AD?3>3@6
E7?;8AD?3>EB73=;@9?3=;@93E:ADF5>3EEDAA?BD7E7@F3F;A@

 DAGB;E5GEE;A@
+E7A8B7DEG3E;H7EFD3F79;7E;@5>G6;@9EA?7D:7FAD;53>67H;57E8AD7?B:3E;L;@98AD;@EF3@5747;@9BA>;F7
3@68;D?:3@6>;@9CG7EF;A@E3@6F3=;@9;@5D;F;5;E?A8E7>8FGD@F3=;@9EFD3F79;7E3@678875F;H7
;@F7DH7@F;A@GE7A84A6K>3@9G397

 ";EF7@;@9A?BD7:7@E;A@
5:;7H;@934;>;FKFA5A?BD7:7@6?3F7D;3>67>;H7D763FD7>3F;H7>K83EFEB7765A?BD7:7@6;@9EBA=7@
?3F7D;3>;@)F3@63D6@6;3@@9>;E:D;F;E:@9>;E:3@6?7D;53@@9>;E:;@F7>>;97@F>;EF7@;@9;@
E;FG3F;A@EEG5:3E3@;@F7DH;7I;@I:;5:A@7;E353@6;63F7

!!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
$/>3@=23
 ( 
$/>3@

 

$/>3@ </:=5:31B@=<71A I

7;
(=ABC2GA3;71=<2C1B=@;/B3@7/:/<27BJA/>>:71/B7=</A27=23(( 3B1

#0831B7D3
 (=ABC2G/<2/</:GA3A3;71=<2C1B=@23D713A
 (=ABC2G(/A/;>:7473@
 (=/</:GA327443@3<B07/A7<5A163;3A/<2B637@AB/07:7BG
"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

'G7EF;A@$A  E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE *:;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@E FE:AG>647A8


?3D=E
B3DF8DA?'G7EF;A@$A  D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GE H7DKG@;FE:AG>6:3H7FIACG7EF;A@E AI7H7DEFG67@F?3K
473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F 35:CG7EF;A@E:AG>647 ?3D=E

/16C<7B=4
6=C@A

)<7B
C<1B7=<7=236/@/1B3@A7AB71A (7H;7IA8E7?;5A@6G5FAD&:KE;5E M@3@6B MFKB7E7?;5A@6G5FADE3>>8875F
7D?; >7H7> ;@ ;@FD;@E;5 3@6 7JFD;@E;5 E7?;5A@6G5FADE %B7@5;D5G;F76 B@ <G@5F;A@ *:7 B@ <G@5F;A@ @7D9K 43@6
6;39D3?A8&$6;A67&$6;A673E3D75F;8;7D8ADI3D64;3E3@6D7H7DE74;3E*:75GDD7@F5A?BA@7@FE;@B@6;A67
"3I A8 <G@5F;A@ ;A67 7CG3F;A@  ,A>F3?B7D7 5:3D35F7D;EF;5E A8 B@ 6;A67 *7?B7D3FGD7 67B7@67@57 A8 ,
5:3D35F7D;EF;5 *D3@E;F;A@ 3@6 ;88GE;A@ 53B35;F3@57E )F7B 9D3676 <G@5F;A@ D73=6AI@ #75:3@;E?E ;@ )7?;
A@6G5FADH3>3@5:73@607@7D4D73=6AI@;A67E07@7D6;A675:3D35F7D;EF;5E:3D35F7D;EF;5EA8*G@@7>;A67
I;F:F:7:7>BA87@7D9K43@66;39D3?E,3D35F3D;A67"3@6B:AFA6;A67

)<7B
(@/A7AB3@/<2(6/@/1B3@7AB71A G@5F;A@FD3@E;EFAD*D3@E;EFAD5GDD7@F5A?BA@7@FE*D3@E;EFAD3E3@3?B>;8;7D
*D3@E;EFAD5A@EFDG5F;A@7F3;>76EFG6KA85GDD7@FE;@3FD3@E;EFAD*D3@E;EFAD3>B:3@BGF3@6%GFBGF5:3D35F7D;EF;5E
A8FD3@E;EFAD;@A??A@3E7A??A@?;FF7D3@6A??A@5A>>75FAD5A@8;9GD3F;A@E(7>3F;A@47FI77@>B:3
3@67F3FKB;53>FD3@E;EFAD<G@5F;A@HA>F397 H3>G7E *5:3D35F7D;EF;5E'G3>;F3F;H73@6'G3@F;F3F;H76;E5GEE;A@
)?3>>E;9@3>?A67>A8 *#%)*5:3D35F7D;EF;5E@:3@57?7@F3@667B>7F;A@?A67)K?4A>EA8#%)*
A?B3D;EA@A8*D3@E;EFADE@FDA6G5F;A@FA)(3@6+ *

)<7B
7/A7<5 /<2 'B/07:7A/B7=<  * 4;3E;@9  7CG;H3>7@F ?A67> 5D;F7D;3 8AD 8;J;@9 AB7D3F;@9 BA;@F ;J76 4;3E
A>>75FAD FA 43E7 4;3E )7>8 4;3E F75:@;CG7E 8AD EF34;>;L3F;A@ )F34;>;L3F;A@ 835FADE ) )  )N A?B7@E3F;A@
F75:@;CG7EA?B7@E3F;A@393;@EFH3D;3F;A@;@,5A*:7D?3>DG@3I3K*:7D?3>EF34;>;FK

)<7B*
;>:7473@A/<2#A17::/B=@A )?3>>E;9@3>>AI8D7CG7@5KFD3@E;EFAD3?B>;8;7D5;D5G;FE:B3D3?7F7DD7BD7E7@F3F;A@A8
3 FD3@E;EFAD @3>KE;E A8 E;@9>7 EF397 FD3@E;EFAD 3?B>;8;7D GE;@9 :B3D3?7F7DE HA>F397 93;@ 5GDD7@F 93;@ @BGF
;?B763@57 3@6 %GFBGF ;?B763@57   A@57BF A8 8776435= >3EE;8;53F;A@ A8 8776435= 3?B>;8;7DE 7@7D3>
5:3D35F7D;EF;5EA8@793F;H78776435=3?B>;8;7DE8875FA8776435=A@;@BGF3@6AGFBGF5:3D35F7D;EF;5EA@6;F;A@8AD
AE5;>>3F;A@E (B:3E7E:;8FAE5;>>3FADEI;F:*D3@E;EFAD3@6*DKEF3>AE5;>>3FADE

 
* >75FDA@;57H;57E3@6;D5G;FE M #;>>?3@  3>=;3E3@6)3FK34D3F:3 ;F*3F3#5D3I;>> @66 

* >75FDA@;57H;57E3@6;D5G;FE M)3>;H3:3@3@3@6AF:7DE*#
* >75FDA@;57H;57E3@6;D5G;FE M ( :7DG=G3@6 * !D;E:@3&73DEA@ 

&343@3<13A

 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
( >75FDA@;57H;57E3@6;D5G;FE M*  A93DF D  ) 73E>7K3@6 (;5A&73DEA@6G53F;A@F:76;F;A@

( &D;@5;B>7EA8>75FDA@;5;D5G;FE M)  GD@E3@6& ( A@63>9AF;3&G4>;53F;A@E @66@  
( #;5DA7>75FDA@;5E M#;>>?3@3@6D347>*3F3#5D3I;>> 
( >75FDA@;57H;57E3@6;D5G;F*:7ADK M( " AK>7EF363@6" $3E:>7E=K&73DEA@ F:6  

 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
=23
 ( $ 
$/>3@
 $/>3@ <D7@=<;3<B'BC273A
"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

'G7EF;A@$A  E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE *:;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@E FE:AG>647A8


?3D=E
B3DF8DA?'G7EF;A@$A  D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GE H7DKG@;FE:AG>6:3H7FIACG7EF;A@E AI7H7DEFG67@F?3K
473E=76FA3FF7?BFA@>K CG7EF;A@8DA? 735:G@;F 35:CG7EF;A@E:AG>647 ?3D=E

/16C<7B=4 6=C@A
)<7B
78;@;F;A@E5AB73@6;?BADF3@57@7768ADBG4>;53I3D7@7EE;@FDA6G5F;A@FA5A@57BFA89D77@F75:@A>A9K AD7EF
D7EAGD57E+E73@6AH7D7JB>A;F3F;A@678AD7EF3F;A@ *;?47D7JFD35F;A@?;@;@963?E3@6F:7;D78875FEA@8AD7EF3@6
FD;43>B7AB>7 -3F7DD7EAGD57E+E73@6AH7DGF;>;L3F;A@A8EGD83573@69DAG@6I3F7D8>AA6E6DAG9:F5A@8>;5FEAH7D
I3F7D63?E47@78;FE3@6BDA4>7?E #;@7D3>D7EAGD57E+E73@67JB>A;F3F;A@7@H;DA@?7@F3>78875FEA87JFD35F;@9
3@6GE;@9?;@7D3>D7EAGD57E AA6D7EAGD57E-AD>68AA6BDA4>7?E5:3@97E53GE764K39D;5G>FGD73@6AH7D9D3L;@9
78875FEA8?A67D@39D;5G>FGD787DF;>;L7DB7EF;5;67BDA4>7?EI3F7D>A99;@9E3>;@;FK @7D9KD7EAGD57EDAI;@9
7@7D9K@776ED7@7I34>73@6@A@D7@7I34>77@7D9KEAGD57EGE7A83>F7D@3F77@7D9KEAGD57E9D77@8G7> "3@6
D7EAGD57E"3@63E3D7EAGD57>3@6679D363F;A@?3@;@6G576>3@6E>;67EEA;>7DAE;A@3@667E7DF;8;53F;A@ (7EAGD57
#3@397?7@F)GEF3;@34>767H7>AB?7@F

)<7B
;D&A>>GF;A@ *KB7EA8BA>>GF3@FEEAGD5778875FEE;@=5A@FDA> A8BD;?3DKBA>>GF3@FEM%$%.)%J3@6
B3DF;5G>3F7E78875FA8BA>>GF3@FEA@?3@7@H;DA@?7@FB:AFA5:7?;53>E?A935;6D3;@3@69>A43>I3D?;@9%
)7CG7EFD3F;A@ -3F7D&A>>GF;A@ >3EE;8;53F;A@A8&A>>GF3@FEF:7;DEAGD57EI3EF7I3F7DFD73F?7@F6A?7EF;53@6
;@6GEFD;3> )A;>&A>>GF;A@ MA?BAE;F;A@A8EA;>5>3EE;8;53F;A@3@678875FEA8EA>;6BA>>GF3@FE3@6F:7;D5A@FDA>

)<7B I
)A>;6-3EF7&A>>GF;A@ M>3EE;8;53F;A@I3EF7FD73F?7@F3@66;EBAE3>?7F:A6E5A?BAE;F;@9E3@;F3DK>3@68;>>;@9
F:7D?3>BDA57EE7ED75K5>;@93@6D7GE7?7F:A6E 3L3D6AGEI3EF7E >3EE;8;53F;A@D36;A35F;H74;A?76;53>
5:7?;53>FD73F?7@F3@66;EBAE3>&:KE;53>5:7?;53>3@64;A>A9;53>BDA57EE7E #3D;@7&A>>GF;A@ M3GE7E78875FE
3@65A@FDA>A8?3D;@7BA>>GF;A@5A3EF3>LA@7?3@397?7@F *AJ;55:7?;53>E;@F:77@H;DA@?7@F?B35FA8FAJ;5
5:7?;53>EA@7@LK?7E4;A5:7?;53>78875FEA83DE7@;5536?;G?>7365:DA?;G??7D5GDK4;A5:7?;53>78875FEA8
B7EF;5;67E

)<7B*
&A>K?7DEK@F:7E;E@H;DA@?7@F3>679D363F;A@A8BA>K?7DEB:AFA679D3634>7BA>K?7DE:K6DA>KE;E3@6:K6DA
4;A679D3634>7BA>K?7DE4;ABA>K?7DE3@64;AB>3EF;5EF:7D?3>679D363F;A@A8B>3EF;5E6GD;@9D75K5>;@9
;A355G?G>3F;A@4;A679D363F;A@4;AD7?76;3F;A@4;A>735:;@9;A?7F:3@3F;A@@FDA6G5F;A@3E;5BD;@5;B>7EA8
9D77@F75:@A>A9K5A@57BFA8FA?75A@A?K*AA>EA8D77@F75:@A>A9KL7DAI3EF7F75:@A>A9K @H;DA@?7@F3>
?B35FEE7EE?7@F)A?7;?BADF3@F@H;DA@?7@F3>>3IED77@47@5:3D4A@D76;FE@H;DA@?7@F3>
#3@397?7@F)KEF7?EF3@63D6E)%  E7D;7E

(3FB &343@3<13
(A97D&7D?3@7F 3> $3FGD3>(7EAGD57E@H;DA@?7@F3>5A@A?;5E @66 "A@9?3@+)
)F7D@    ;D&A>>GF;A@,A>  ,5367?;5&D7EE
 3?7E# "K@5:>3@-;E7?3@@H;DA@?7@F3>;A?A@;FAD;@9*:7;AF75:@A>A9K5AFAJ;5A>A9K
@F7D83573?4D;697+@;H7DE;FK&D7EE 
 A:@>3EEA@(;=;*:7D;H7>3@6@6D7I:36I;5=@FDA6G5F;A@FA@H;DA@?7@F3>?B35FEE7EE?7@F
@66 +"&D7EE&:;>367>B:;3+) 
 (;5:3D6! #AD93@@H;DA@?7@F3>?B35FEE7EE?7@F?7F:A6A>A9;53>B7DEB75F;H7!>GI3D5367?;5
&G4>;53F;A@EAEFA@ 
 34D;7>;FFA@-3EF7I3F7D#;5DA4;A>A9K @66 -;>7K";EE$7I/AD= 
 @H;DA@?7@F3>:7?;EFDK&A>>GF;A@A@FDA>) :3@6A "3F7EF76 K) ) 3D3
 @H;DA@?7@F3>:7?;EFDK ! &G4>;E:7DE 3>3D3?&3@;
 @H;DA@?7@F3>:7?;EFDK$7I97@F &G4> "3F7EF76  ! 7
@H;DA@?7@F3>)FG6;7E) ! !3F3D;3&G4>  "3F7EF76 ) ! :3?;<3
F7JF4AA=;@@H;DA@?7@F3>)5;7@57$3DAE3&G4>  , )G4D3?3@;3@

 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
!/B63;/B71A 
$/>3@=23 I

( $ @327BA
 
 7<3/@ :530@/ ";@73D @67B7@67@57 3@6 67B7@67@57 A8 H75FADE )KEF7?E A8 >;@73D
7CG3F;A@E M 5A@E;EF7@5K 3@6 ;@5A@E;E;F7@5K 3GEE 7>;?;@3F;A@ ?7F:A6 D3@= A8 3 ?3FD;J
;>;@73D 'G36D3F;5 7D?;F;3@ )=7I M 7D?;F;3@ AD?E ;97@H3>G7E 3@6 ;97@H75FADE A8 3
?3FD;J6;39A@3>;L3F;A@A83?3FD;J3K>7K M3?;>FA@*:7AD7?I;F:AGFBDAA8

6@A
 #@27</@G7443@3<B7/:?C/B7=<AAD?3F;A@A8%NE678;@;F;A@A8AD67D679D773@6
EA>GF;A@E  %NE A8 8;DEF AD67D #7F:A6 A8 E7B3D3F;A@ A8 H3D;34>7E :A?A97@7AGE 3@6
@A@:A?A97@7AGE 7CG3F;A@E 7J35F@7EE 3@6 ;@F79D3F;@9 835FADE >;@73D 7CG3F;A@E 3@6 7D@AG;>>;
7CG3F;A@EAB7D3FAD?7F:A6?7F:A6A8G@67F7D?;@765A788;5;7@FE3@6@A@:A?A97@AGEAB7D3FAD
?7F:A6 ?7F:A6 A8 G@67F7D?;@76 5A788;5;7@FE 3@6 H3D;3F;A@ A8 B3D3?7F7DE  )A>GF;A@E A8 E;?B>7
E;?G>F3@7AGE%NE &AI7DE7D;7E?7F:A6A8EA>GF;A@A8"797@6D7NECG3F;A@"797@6D7NE
&A>K@A?;3>E7EE7>NE7CG3F;A@7EE7>NE8G@5F;A@

6@A
 =;>:3F */@7/0:3A GDH7E 3@6 (79;A@E ;@ F:7 A?B>7J &>3@7 A?B>7J G@5F;A@E
";?;FE7D;H3F;H7@3>KF;5 G@5F;A@3G5:K(;7?3@@CG3F;A@E "3B>357NECG3F;A@ ";@73D
D35F;A@3> *D3@E8AD?3F;A@E A@8AD?3> #3BB;@9 A?B>7J ";@7 @F79D3> 3G5:KNE @F79D3>
*:7AD7? 3G5:KNE @F79D3> AD?G>3 7D;H3F;H7E A8 @3>KF;5 G@5F;A@ &AI7D )7D;7E *3K>AD
)7D;7E "3GD7@F )7D;7E #7F:A6E 8AD A4F3;@;@9 &AI7D )7D;7E @3>KF;5;FK 3F @8;@;FK 07DA7E
);@9G>3D;F;7E(7E;6G7E(7E;6G7*:7AD7?H3>G3F;A@A8(73>@F79D3>E
6@A
* $@=0/07:7BG 78;@;F;A@ A8 )3?B>7 )B357 H7@F H7@F )B357 A@6;F;A@3> &DA434;>;FK
66;F;H73@6#G>F;B>;53F;H7>3IA8&DA434;>;FK3K7NE"3IF:7AD7?BB>;53F;A@43E76A@F:7E7
D7EG>FE
6@A
'C553AB32(3FB==9A&343@3<13A
# ! );@9:3>E:3);@9:3>O>974D3P( :3@6A
):3@F;$3D3K3@O#3FD;57EP) :3@6A
   *:A?3E3@6( " ;@@7KO3>5G>GE3@6@3>KF;57A?7FDKP66;EA@-7E>7K

$3DAE3
   !D7KEL;9 O6H3@576 @9;@77D;@9 #3F:7?3F;5EP  F: 6;F;A@-;>7K 3EF7D@ "F6

 $ # !3BAADO;887D7@F;3>CG3F;A@EP&;F3?47D&G4 A
 )5:3G?%GF>;@7)7D;7EO;887D7@F;3>CG3F;A@EP#5 D3I;>>
 )5:3G?%GF>;@7)7D;7EOA?B>7J,3D;34>7EP#5 D3I;>>
 )5:3G?%GF>;@7)7D;7EO";@73D>974D3P#5 D3I;>>
 )5:3G?%GF>;@7)7D;7EO&DA434;>;FKP#5 D3I;>>

 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
$,'' 

$/>3@=23 I

( $ @327BA


 %C/<BC;!316/<71A
-3H7 B3DF;5>7 6G3>;FK 67DA9>;7 I3H7E 7H;67@57E 8AD F:7 I3H7 @3FGD7 A8 ?3FF7D M F:7
7JB7D;?7@F A8 3H;EEA@ 3@6 7D?7D 7>75FDA@ 6;88D35F;A@ B:KE;53> ;@F7DBD7F3F;A@ A8 F:7
I3H78G@5F;A@3@6;FEBDAB7DF;7EF:7I3H7B35=7FF:7G@57DF3;@FKBD;@5;B>7

6@A

*:7 )5:DA6;@97D I3H7 7CG3F;A@  M 6;?7@E;A@3> ;97@ H3>G7E 3@6 ;97@ 8G@5F;A@E
7JB75F3F;A@ H3>G7E E;?B>7 ;97@ H3>G7 BDA4>7?E M EA>GF;A@E A8 F:7 )5:DA6;@97DNE
7CG3F;A@E 8AD F:7 8D77 B3DF;5>7 F:7 ;@8;@;F7 I7>> F:7 8;@;F7 I7>> FG@@7>;@9 78875F E;?B>7
:3D?A@;5AE5;>>3FADCG3>;F3F;H7L7DABA;@F7@7D9K

6@A

 %C/<BC;'B/B7AB71A
*:7 EF3F;EF;53> 6;EFD;4GF;A@E #3JI7>> A>FL?3@@ AE7;@EF7;@ 3@6 7D?;;D35
EF3F;EF;5E F:7;D 5A?B3D;EA@E 7D?;@AE 3@6 AEA@E BB>;53F;A@E #A>75G>3D EB776 3@6
7@7D9;7E ;@ 3@ ;673> 93E  *:7 >35= 4A6K EB75FDG? F:7 83;>GD7 A8 5>3EE;53> EF3F;EF;5E FA
9;H7 F:7 5ADD75F 7JB>3@3F;A@E M F:7 3BB>;53FA@E A8 AE7;@EF7;@ EF3F;EF;5E FA F:7 >35=
4A6K D36;3F;A@ EB75FDG? 7D?;;D35 6;EFD;4GF;A@ 8D77 7>75FDA@ F:7ADK 7>75FDA@;5
EB75;8;5:73FE7D?;7@7D9K3@63H7D3977@7D9K M;FEE;9@;8;53@57


6@A

 /<2(63=@G=4'=:72A
%D;9;@A87@7D9K43@6E;@EA>;6E?AF;A@A87>75FDA@E;@3B7D;A6;5BAF7@F;3> MF:7!DA@;9
M &7@@K ?A67>  D;>>AG;@ LA@7E 78875F;H7 ?3EE ?7F3>E E7?;5A@6G5FADE 3@6 ;@EG>3FADE
3@6F:7;D7@7D9K43@6EFDG5FGD7E JFD;@E;53@6@FD;@E;5E7?;5A@6G5FADE6AB;@9 M7D?;
7@7D9K8AD6AB763@6G@6AB76E7?;5A@6G5FADEF:7B@<G@5F;A@7@7D9K 43@66;39D3?E
I;F: 7D?; 7@7D9K F:7 G@4;3E76 6;A67 8ADI3D6 3@6 D7H7DE7 4;3E76 6;A67E M FG@@7>
6;A67EL7@7D6;A67B:AFA6;A67;FE5:3D35F7D;EF;5E"@FDA6G5F;A@FAFD3@E;EFADE


6@A

* #D3@D73E=4:31B@= I!/5<3B7A;
#3JI7>>NE CG3F;A@E *:7 7CG3F;A@ A8 5A@F;@G;FK 8AD *;?7 M ,3DK;@9 8;7>6E
@5A@E;EF7@5K;@3?B7D7NE>3I#3JI7>>NECG3F;A@E5A@6;F;A@E3F3AG@63DK)GD8357
@FDA6G5F;A@FA#I3H7

6@A

 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
&31=;;3<232==9A

A@57BFA8#A67D@&:KE;5E 7;E7D
#A67D@&:KE;5E!7@@7F:!D3@7
 )A>;6)F3F7&:KE;5E4K!;FF>7
 >75FDA@;5&D;@5;B>7E#3>H;@A
 )F3F;EF;53>#75:3@;5E4K3D93@E3>3@6:AE:*#

 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
=23 ( $ 
$/>3@
$/>3@ '75</:/<2'GAB3;A

$@3@3?C7A7B3

!/B6

!/B6

7;
(=C<23@AB/<2B63036/D7=@=4D/@7=CAAGAB3;AC<23@27443@3<BA75</:1=<27B7=<A

#0831B7D3A
 (=53BB63<=E:3253/0=CBB637;>=@B/<B'75</:16/@/1B3@7AB71A/<2=>3@/B7=<=4'GAB3;A7<
27443@3<B1=<27B7=<A
 (=ABC2GB63/>>:71/B7=<=427443@3<BB@/<A4=@;A

"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

'G7EF;A@$A  E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE *:;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@E FE:AG>647A8


?3D=E
B3DF8DA?'G7EF;A@$A  D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GE H7DKG@;FE:AG>6:3H7FIACG7EF;A@E AI7H7DEFG67@F?3K
473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F 35:CG7EF;A@E:AG>647 ?3D=E

/16C<7B=4
6=C@A

)<7B
A@F;@GAGE3@66;E5D7F7F;?7E;9@3>E>3EE;8;53F;A@A8);9@3>E M&7D;A6;53B7D;A6;57H7@ MA66 M7@7D9K3@6BAI7D
E;9@3>E M7F7D?;@;EF;53@6D3@6A?E;9@3>E M5A?B>7J7JBA@7@F;3>3@6E;@GEA;63>E;9@3>E MB7D;A6;5;FK MBDAB7DF;7E
A86;E5D7F7F;?75A?B>7J7JBA@7@F;3>G@;F;?BG>E7 MG@;FEF7B;?BG>E78G@5F;A@E M*D3@E8AD?3F;A@;@;@67B7@67@F
H3D;34>7A8E;9@3>EF;?7E53>;@9F;?7E:;8F;@9 7F7D?;@3F;A@A8AGD;7DE7D;7ED7BD7E7@F3F;A@A85A@F;@GAGEF;?73@6
6;E5D7F7F;?7B7D;A6;5E;9@3>E MJB>3@3F;A@A8BDAB7DF;7EA85A@F;@GAGEF;?73@66;E5D7F7F;?7AGD;7DE7D;7E
(7BD7E7@F3F;A@A85A@F;@GAGEF;?7E;9@3>E4K;FEE3?B>7 )3?B>;@9F:7AD7? M(75A@EFDG5F;A@A83);9@3>8DA?;FE
E3?B>7E3>;3E;@9 M6;E5D7F7F;?7BDA57EE;@9A85A@F;@GAGEF;?7E;9@3>EE3?B>;@9A843@6B3EEE;9@3>E 1* * 2

)<7B I
A@F;@GAGEF;?7 AGD;7D*D3@E8AD?3@6"3B>357*D3@E8AD?3@3>KE;EI;F:7J3?B>7E MBDAB7DF;7EA8F:7A@F;@GAGE
F;?7AGD;7D*D3@E8AD?3@6"3B>357*D3@E8AD?43E;5BDAB7DF;7E&3DE7H3>NED7>3F;A@3@65A@HA>GF;A@;@F;?73@6
8D7CG7@5K6A?3;@E
3E;5BDAB7DF;7EA85A@F;@GAGE F;?7EKEF7?E";@73D;FK3GE3>;FKF;?7;@H3D;3@57EF34;>;FK?39@;FG673@6&:3E7
D7BD7E7@F3F;A@EA88D7CG7@5KD7EBA@E7A8"*EKEF7?E @3>KE;E3@65:3D35F7D;L3F;A@A8"*EKEF7?EGE;@9
;887D7@F;3>CG3F;A@E3@6A@F;@GAGEF;?7"*EKEF7?E "3B>357FD3@E8AD?A?BGF3F;A@A8;?BG>E7D7EBA@E73@6
FD3@E87D8G@5F;A@GE;@9"3B>357FD3@E8AD? 1* * *2

)<7B I
;E5D7F7F;?7EKEF7?3@3>KE;EGE;@9;887D7@577CG3F;A@E;E5D7F7*;?7AGD;7D*D3@E8AD?;E5D7F7AGD;7D
*D3@E8AD?*3@6F:7;DBDAB7DFK3@6GE397;@F:73@3>KE;EA8;E5D7F7F;?7EKEF7?E
3E;5BD;@5;B>7EA8LFD3@E8AD? LFD3@E8AD?678;@;F;A@ MD79;A@A85A@H7D97@57 MBDAB7DF;7EA8(% M&DAB7DF;7EA8
LFD3@E8AD? M&A>7E3@607DAE M;@H7DE7LFD3@E8AD?GE;@9A@FAGD;@F79D3F;A@ (7E;6G7*:7AD7?&AI7D)7D;7E
7JB3@E;A@3@6&3DF;3>8D35F;A@7JB3@E;A@(7>3F;A@E:;B47FI77@LFD3@E8AD?3@6AGD;7DFD3@E8AD? &DAB7DF;7EA8
5A@HA>GF;A@3@6F:7;@F7D5A@@75F;A@A8"*)KEF7?E M3GE3>;FK3@6EF34;>;FKA8"*)KEF7?E A?BGF3F;A@A8
?BG>E7D7EBA@E7*D3@E87D8G@5F;A@GE;@90*D3@E8AD? 1** 2

)<7B I*
)KEF7?EI;F:8;@;F76GD3F;A@3@6;@8;@;F76GD3F;A@;?BG>E7D7EBA@E7 MD75GDE;H73@6@A@D75GDE;H76;E5D7F7F;?7
EKEF7? MD73>;L3F;A@EFDG5FGD7E M6;D75F8AD? M6;D75F8AD? M*D3@EBAE753E53673@6B3D3>>7>8AD?E 1* * 2

(3FB==9A

 !!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
* >3@, %BB7@:7;?>3@) -;>>E=KI;F:) 3?;6$3I34);9@3>E)KEF7?E @676@ &73DEA@
6G53F;A@ 
* A:@ &DA3=;E3@6;?;FD;E #3@A>3=;E;9;F3>);9@3>&DA57EE;@9&D;@5;B>7E>9AD;F:?E3@6
BB>;53F;A@ED676@ &
* # (A47DFE);9@3>E3@6)KEF7?E@3>KE;EGE;@9*D3@E8AD??7F:A63@6#*"*# 
* );?A@3K=;@3@63DDK,3@,77@);9@3>E3@6)KEF7?E A:@-;>7K 
*

&343@3<13==9A
( ! ";@6@7DO);9@3>E 3@6)KEF7?EP#5D3I;>>@F7D@3F;A@3> 
( #A?3@  3KEP;9;F3>);9@3>&DA57EE;@9O)5:3G?NEAGF>;@7E*3F3#5D3I;>>A"F6  
(  & "3F:;O);9@3>&DA57EE;@93@6";@73D)KEF7?P7D=7>7K3?4D;697&D7EE 
(  & EGO)5:3G?NE%GF>;@7EA8*:7*:7ADK3@6&DA4>7?EA8);9@3>E3@6)KEF7?EP#5D3I;>> 
( ) &AAD@35:3@6D3O);9@3>3@6)KEF7?EP*:A?EA@"73D@;@9 

!!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
$@/1B71/:A

=23   ( $ 
$/>3@
 $/>3@ </:=5:31B@=<71A I /<2 '75</:/<2'GAB3;A /0


&D35F;53>E43E76A@ 3@6

=23(  ( $ 
$/>3@   $/>3@<57<33@7<5@/>671A /0

3E;5A@57BFE
 ) 6D3I;@95A@H7@F;A@E>;@7EK?4A>E=;@6EA8>;@76D3I;@9E:77F>3KAGFDG>7EA8BD;@F;@9BD787DD76
E53>7E

&DA<75F;A@E
&7DEB75F;H7ADF:A9D3B:;5;EA?7FD;53@6A4>;CG7BDA<75F;A@E;EA?7FD;5E53>7;EA?7FD;56D3I;@9*75:@;53>
E=7F5:;@9

 ):3B77E5D;BF;A@JF7D@3>
#G>F;B>3@3DD7BD7E7@F3F;A@;@8;DEF3@6F:;D63@9>7EKEF7?EA8BDA<75F;A@E9>3EE4AJ5A@57BFE=7F5:;@9A8
ADF:A9D3B:;5H;7IE8DA?B;5FAD;3>H;7IEBD75767@57A8>;@7E

)=7F5:;@9A8B;5FAD;3>;EA?7FD;53@6A4>;CG7H;7IE8DA?#G>F;B>3@3DADF:A9D3B:;5H;7IE(736;@9
7J7D5;E7E#;EE;@9>;@73@6 ?;EE;@9H;7I7J7D5;E7E

 ):3B77E5D;BF;A@@F7D@3>

?BADF3@57A8E75F;A@;@9BD;@5;B>7EA8E75F;A@;@9FKB7EA8E75F;A@E5GFF;@9B>3@7D7BD7E7@F3F;A@E75F;A@
>;@7E5A@H7@F;A@3>BD35F;57E

 );L77E5D;BF;A@

;?7@E;A@;@9FAA>EA86;?7@E;A@;@9);L73@6>A53F;A@6;?7@E;A@E&D;@5;B>7EA85A@H7@F;A@EA8
6;?7@E;A@;@9;?7@E;A@;@97J7D5;E7E

 A?BGF7D;676D38F;@9

3E;55A@57BFE3@6GE7

=23  ( $ 
$/>3@  $/>3@$6GA71AI /0

&D35F;53>E43E76A@

=23  ( $ 
$/>3@  $/>3@<D7@=<;3<B'BC273A /0

&D35F;53>E43E76A@ 

=23' 
( $ 
$/>3@ 
$/>3@=;;C<71/B7=<A'97::A  /0

&D35F;53>E43E76A@)

!!!$+'*& *!)$)*(%)/##+)& )*/(''(&,/ &%


*!% %
*! &% *!%

-$"))"&%
 
 
(&'!'(&

$/>3@ 
( $ 

$/>3@=23(
$/>3@=;>CB/B7=</:!3B6=2A  

$@3@3?C7A7B3A
!/B6A

(
"(&#)(#"(##!$)(&'

!
-;F:F:7BD7E7@F67H7>AB?7@FA8F:75A?BGF7DF75:@A>A9K;F;E@757EE3DKFA67H7>AB 788;5;7@F
3>9AD;F:?E8ADEA>H;@9BDA4>7?E;@E5;7@577@9;@77D;@93@6F75:@A>A9K*:;E 5AGDE79;H7E35A?B>7F7
BDA576GD78ADEA>H;@96;887D7@F=;@6EA8BDA4>7?EA55GD;@ 7@9;@77D;@9@G?7D;53>>K

#(*'
FF:77@6A8F:75AGDE7F:7EFG67@FEIAG>64735CG3;@F76I;F:F:743E;55A@57BFE;@ @G?7D;53>
?7F:A6E3@6F:7;DGE7E3D7EG??3D;L763E8A>>AIE
;*:7DAAFEA8@A@>;@73D3>974D3;5ADFD3@E57@67@F3>7CG3F;A@EEA>GF;A@EA8>3D97 EKEF7?A8>;@73D
7CG3F;A@E3@6;97@H3>G7BDA4>7?A83?3FD;J53@47A4F3;@76 @G?7D;53>>KI:7D73@3>KF;53>?7F:A6E
83;>FA9;H7EA>GF;A@
;;-:7@:G973?AG@FEA87JB7D;?7@F3>63F33D7;@HA>H76F:7?7F:A6E6;E5GEE76A@ ;@F7DBA>3F;A@I;>>
47GE78G>;@5A@EFDG5F;@93BBDAJ;?3F7BA>K@A?;3>FAD7BD7E7@FF:7 63F33@6FA8;@6F:7;@F7D?76;3F7
H3>G7E
;;;*:7@G?7D;53>6;887D7@F;3F;A@3@6;@F79D3F;A@8;@63BB>;53F;A@I:7@F:78G@5F;A@;@F:7 3@3>KF;53>
8AD?;EFAA5A?B>;53F76ADF:7:G973?AG@FEA863F33D79;H7@EG5:3E E7D;7EA8?73EGD7?7@FE
A4E7DH3F;A@EADEA?7AF:7D7?B;D;53>;@8AD?3F;A@

)<7B H 

DDADE ;@ 5A?BGF3F;A@ (7H;7I A8 *3K>AD )7D;7E #73@ ,3>G7 *:7AD7? (7BD7E7@F3F;A@ A8 @G?47DE
;@F797DE3@6>A3F;@9&A;@F"AEEA8);9@;8;53@57;@A?BGF3F;A@"A53F;A@A8(AAFEA88G@5F;A@E3@6
F:7;D ?;@;?;L3F;A@ ;E75F;A@ ?7F:A6 5A@H7D97@57 3@3>KE;E 3@6 ;?B>7?7@F3F;A@ $7IFA@ #7F:A6
5A@H7D97@57 3@3>KE;E 3@6 ;?B>7?7@F3F;A@ )753@F #7F:A6 5A@H7D97@57 3@3>KE;E 3@6
;?B>7?7@F3F;A@ +@5A@EFD3;@76 A@7 H3D;34>7 8G@5F;A@ ?;@;?;L3F;A@ 4K ;4A@355; E73D5: A>67@
)75F;A@)73D5:3@6$7IFA@NE?7F:A6#G>F;H3D;3F78G@5F;A@?;@;?;L3F;A@4KF:7?7F:A6A8EF77B7EF
67E57@F$7>67D#736>9AD;F:?

)<7B H 

@F7DBA>3F;A@ 3@6 $G?7D;53> ;887D7@F;3F;A@ @F7DBA>3F;@9 &A>K@A?;3> "39D3@97 AD? $7IFA@


AD? $7EF76 AD? @H7DE7 @F7DBA>3F;A@ $7H;>>7NE >9AD;F:? DDADE ;@ ;@F7DBA>3F;A@ EF;?3F;@9
7D;H3F;H7E 3@6 (;5:3D6EA@ JFD3BA>3F;A@$G?7D;53> @F79D3F;A@ 78;@;F7 @F79D3> (;7?3@@ M
@F79D3> G@5F;A@E *D3B7LA;6 (G>7 (A?47D9 >9AD;F:? );?BEA@NE )5:7?7 3GEE;3@ 'G36D3FGD7
(G>7

)<7B H 

";@73D )KEF7? A8 CG3F;A@E A@6;F;A@;@9 3GEE >;?;@3F;A@ &;HAF;@9 :A>7E=K 35FAD;L3F;A@
F7D3F;H7 #7F:A6E &AI7D #7F:A6 BBDAJ;?3F;A@ 4K )B>;@7 G@5F;A@ EF 3@6 @6 79D77 )B>;@7E
$3FGD3>G4;5)B>;@7E)B>;@7E@F7DBA>3F;A@3@6BBDAJ;?3F;A@

)<7B H

;887D7@F;3>CG3F;A@EG>7D?7F:A6*3K>ADE7D;7E?7F:A6A8:;9:7DAD67DE(G@97 M!GFF3?7F:A6
A8AD67D 3@6(G@97 M!GFF3 M7:>47D9?7F:A663E M3E:8ADF: M#AG>FA@AD?G>3)A>GF;A@
A8&3D34A>;5KB7D4A>;53@6>>;BF;5&E?B>7?7@F3F;A@FA476A@7;@ 

(3FB==9A

*1 2  !;@53;6 3@6 - :7@7K O$G?7D;53> @3>KE;E #3F:7?3F;5E A8 )5;7@F;8;5 A?BGF;@9P
*:A?EA@ DAA=EA>7

&343@3<13==9A

(1 2 !;@53;63@6-:7@7KO$G?7D;53>@3>KE;EP*:A?EA@ DAA=EA>7

(1 2 ("GD67@3@6 3;D7EO$G?7D;53>@3>KE;EP*:A?EA@ DAA=EA>7

(1 2 -//3@9-3A*):G@93@6 #ADD;EOBB>;76$G?7D;53> #7F:A6E +E;@9


#3F>34P-;>7K



(12 #3F:7IE3@6!;@=O$G?7D;53>#7F:A6E+E;@9#3F>34P&D7@F;573>> 

(12 )A@F7 3@667AADO>7?7@F3DK$G?7D;53>@3>KE;E@ >9AD;F:?;5BBDA35:P


#5D3I;>> 


(12 A88?3@O$G?7D;53>#7F:A6E8AD@9;@77DE3@6)5;7@F;EFEP#3D57>7==7D@5

(12 )FA7D3@6(G>;DE5:O@FDA6G5F;A@FA$G?7D;53>@3>KE;EP)BD;@97D M,7D>39  

(12 -&D7EE)*7G=A>E=K-*,7FF7D>;@93@6&>3@@7DKO$G?7D;53>(75;B7E;@
P+&

(12 -A7:?3@6&D3GFL5:O$G?7D;53>#7F:A6EP+@;H7DE;F;7E&D7EE



(1
2 7D3>63@6&%-:73F>KOBB>;76$G?7D;53>@3>KE;EP&73DEA@ 

(1 2 #@F;3O$G?7D;53>#7F:A6E8AD)5;7@F;EFE@9;@77DEP;@6GEF3@AA=97@5K


$/>3@=23

$/>3@

(

$/>3@=;;C<71/B7=<'GAB3; H  

$@3@3?C7A7B3A


</:=5:31B@=<71 H


 "3BE=@9</:GA7A

 '75</:A/<2'GAB3;A

7; 

(=)<23@AB/<2B63D/@7=CA</:=5/<2>C:A31=;;C<71/B7=<AGAB3;A

#0831B7D3A 

 (= 7;>/@B B63 9<=E:3253 =4 ;=2C:/B7=< /<2 23;=2C:/B7=< B316<7?C3A =4 D/@7=CA /</:=5
1=;;C<71/B7=<AGAB3;A
 (=ABC2GB631=<13>B=4<=7A30/<2E72B6/<2/>>:71/B7=<=4D/@7=CA1=;;C<71/B7=<B316<7?C3A
"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

 'G7EF;A@$A E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE*:;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@EFE:AG>6
47A8
?3D=E

 B3DF8DA?'G7EF;A@$A D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GEH7DKG@;FE:AG>6:3H7FIACG7EF;A@EAI7H7DEFG67@F
?3K473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F35:CG7EF;A@E:AG>647
?3D=E

35:G@;F;EA8
:DE

)<7B
@FDA6G5F;A@ FA >75FDA@;5 A??G@;53F;A@ EKEF7?E D7CG7@5K EB75FDG? A8 # I3H7E *KB7E A8
5A??G@;53F;A@E@3>A9BG>E73@66;9;F3>$7768AD?A6G>3F;A@3@6I;6F:3@6;@8AD?3F;A@53B35;FK

"=7A3 @F7D@3> @A;E7 *:7D?3> E:AF *D3@E;F F;?7 #;E57>>3@7AGE JF7D@3> @A;E7 F?AEB:7D;5 @6GEFD;3>
JFD3*7DD7EFD;3>$A;E753>5G>3F;A@E$A;E78;9GD7$A;E7F7?B7D3FGD71* ( ( (2

)<7B H
?B>;FG67#A6G>3F;A@EKEF7?E*D3@E?;EE;A@&D;@5;B>7EB75FDG?788;5;7@5KBAI7D3@65GDD7@F53>5G>3F;A@
# 7@H7>AB # #A6G>3FAD 5;D5G;FE # FD3@E?;FF7DE '# # (757;H7DE (757;H7D &3D3?7F7DE
)7>75F;H;FKE7@E;F;H;FK6K@3?;5D3@978;67>;FK*((757;H7D)GB7D:7FDA6K@7D757;H7D"AI@A;E7?B>;8;7D
#;J7D 5A@H7DF7D$A;E7>;?;F7DGFA?3F;53;@A@FDA>5;D5G;F

'7<5:3 A7230/<2 1=;;C<71/B7=< AGAB3;A );@9>7 );6743@6 EKEF7? # )) 8G>> 53DD;7D # )) D76G576
53DD;7D#))EGBBD7EE7653DD;7D#;@67B7@67@FE;6743@6#H7EF;9;3>E;6743@6A?B3D;EA@A8E;@9>7
E;6743@6 FD3@E?;EE;A@ FA 5A@H7@F;A@3> # );@9>7 E;6743@6 97@7D3F;A@ ?7F:A6E );@9>7 E;6743@6
FD3@E?;FF7D1* * ( ( ( 2

)<7B
@9>7 #A6G>3F;A@ EKEF7? #3F:7?3F;53> @3>KE;E 7H;3F;A@ E7@E;F;H;FK -3H78AD?E &:3E7 67H;3F;A@ 3@6
?A6G>3F;A@;@67JD7CG7@5K3@3>KE;EA83@9>7?A6G>3F76EKEF7?3@6I;6F:D7CG;D7?7@FA83@9>7?A6G>3F76
EKEF7?$A;E73@63@9>7?A6G>3F;A@&D77?B:3E;E3@6677?B:3E;E7@7D3F;A@A8#I3H7E7?A6G>3F;A@
A8#I3H7E@9>7#A6G>3F;A@HE3?B>;FG67?A6G>3F;A@1* * ( 2

)<7B H*
&G>E7 @3>A9 #A6G>3F;A@ $KCG;EF F:7AD7? &D35F;53> E3?B>;@9 &# &-# 3@6 &&# 97@7D3F;A@ 3@6
67F75F;A@
"=7A37<+;=2C:/B7=< $A;E753>5G>3F;A@;@5A??G@;53F;A@EKEF7?$A;E7;@?B>;FG67?A6G>3F;A@EKEF7?
$A;E7;@@9>7?A6G>3F76EKEF7?$3DDAI43@6@A;E7 1* ( ((2

(3FB==9A
1* 2 7AD97 !7@@76KOA??G@;53F;A@)KEF7?P*# MF:6;F;A@
1* 2 &"3F:;O#A67D@;9;F3>3@6@3>A9A??G@;53F;A@)KEF7?P%J8AD6+@;H7DE;FK&D7EE M D6
6;F;A@
&343@3<13==9A
1( 2 );?A@3K=;@OA??G@;53F;A@)KEF7?EP A:@-;>7K)A@E@5F:6;F;A@
1( 2 *3G4)5:;>>;@9O&D;@5;B>7EA8A??G@;53F;A@)KEF7?EP*# @66;F;A@
1( 2 -*A?3E;O>75FDA@;55A??G@;53F;A@EEKEF7?E43;5EF:DAG9:36H3@576P&73DEA@6G53F;A@
F:76


1(2 3@5A5=O@@FDA6G5F;A@FAF:7&D;@5;B>7EA8A??G@;53F;A@*:7ADKP#5D3I;>>
 
1(2 )3K=;@EO@FDA6G5F;A@FA@3>A93@6;9;F3>A??G@;53F;A@P-;>7K 
1(2 &DA3=;E#)3>7:;OA??G@;53F;A@E)KEF7?E@9;@77D;@9P& @676


1(2 (A66K3@6 AA>7@O>75FDA@;5A??G@;53F;A@EP& 
&3B7DA67
 "*

&3B7D <57<33@7<5:31B@=;/5<3B71A  

$@3@3?C7A7B3


!/B6A

 $6GA71A


&:KE;5E


!/B6A

!
*AG@67DEF3@6F:75A@57BFE 53>5G>3F;A@E8AD7>75FD;5?39@7F;53@67>75FDA?39@7F;58;7>6E3@667H;57E

#(*'

 *AG@67DEF3@6BDAB7DF;7EA8?3F7D;3>E
 *AG@67DEF3@6F:7D7>3F;A@47FI77@F:78;7>6EG@67DF;?7H3DK;@9E;FG3F;A@E
 *AG@67DEF3@6BD;@5;B>7EA8BDAB393F;A@A8G@;8AD?B>3@7I3H7E

"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

 'G7EF;A@$A E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE*:;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@EFE:AG>6
47A8
?3D=E

 B3DF8DA?'G7EF;A@$A D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GEH7DKG@;FE:AG>6:3H7FIACG7EF;A@EAI7H7DEFG67@F
?3K473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F35:CG7EF;A@E:AG>647
?3D=E

/16C<7B=4
6=C@A

+$*
(7H;7IAAD6;@3F7)KEF7?E,75FAD3>5G>GEI;F:E;9@;8;53@57A87>AB7D3FAD

>775FDAEF3F;5EAG>A?4NE"3I>75FD;5;7>6@F7@E;FK M;7>6E6G7FA;887D7@F:3D97
;EFD;4GF;A@E>75FD;5>GJ7@E;FK3GEE"3IA87>75FDAEF3F;5E>75FD;5&AF7@F;3>(7>3F;A@E
7FI77@3@6,#3JI7>>NECG3F;A@E8AD>75FDAEF3F;5;7>6E@7D9K7@E;FKA@H75F;A@3@6
A@6G5F;A@GDD7@FE";@73DEAFDAB;53@6A?A97@7AGE;7>75FD;5EA@F;@G;FKCG3F;A@AG@63DK
A@6;F;A@E&A;EEA@NE3@6"3B>357NECG3F;A@E3B35;F3@57 M&3D3>>7>&>3F7A3J;3>)B:7D;53>
3B35;FADE1* * * ( 2

+$*
#39@7FA)F3F;5E;AF)3H3DF"3I?B7D7NE;D5G;F3>"3I#39@7F;5>GJ7@E;FK#3JI7>>NE *IA
CG3F;A@E8AD)F3F;5#8;7>6E#39@7F;5)53>3D3@6,75FAD&AF7@F;3>EAD57E6G7FA#39@7F;5;7>6E
?B7D7NEAD57"3I@6G5F3@57E3@6#39@7F;5@7D9K#3JI7>>NECG3F;A@E*;?7,3DK;@9
;7>6E3D363KNE"3I3@6*D3@E8AD?7D7?8@5A@E;EF7@5KA8?B7D7NE"3I3@6;EB>357?7@F
GDD7@F7@E;FK#3JI7>>NECG3F;A@E;@@F79D3>3@66;887D7@F;3>8AD?EA@6;F;A@E3F3AG@63DK
)GD8357;7>75FD;5;7>75FD;53@6;7>75FD;5A@6G5FAD@F7D8357E1* * * ( 2
+$*
>75FDA?39@7F;5-3H7E-3H7CG3F;A@E8ADA@6G5F;@93@6&7D875F;7>75FD;5#76;3+@;8AD?
&>3@7-3H7E M78;@;F;A@>>(7>3F;A@E7FI77@);@GEA;63>,3D;3F;A@E-3H7&DAB39F;A@;@
"AEE>7EE3@6A@6G5F;@9#76;3A@6G5FADE;7>75FD;5E(78>75F;A@4K3B7D875F5A@6G5FAD
;@EG>3FADI;F:@AD?3>3@6A4>;CG7;@5;67@57D7IEF7D@9>7&A>3D;L3F;A@)GD8357
?B763@571* * * ( 2

+$*,
G;676-3H7E3@6>AIA8BAI7D&AK@F;@9,75FAD3@6&AK@F;@9*:7AD7?BB>;53F;A@E&AI7D"AEE
;@3&>3@7A@6G5FAD*D3@E?;EE;A@>;@73@3>A9K-3H7E47FI77@B3D3>>7>B>3@7E:3D35F7D;EF;5EA8
*3@6*#I3H7E*D3@EH7DE77>75FDA?39@7F;5I3H7E,7>A5;FKA8BDAB393F;A@3@6I3H7
;?B763@571* ( ( 2

*.*%%!)
* >7?7@FEA8>75FDA?39@7F;5 M#3FF:7I$%)36;=G%J8AD6+@;H&D7EE D676


* >75FDA?39@7F;5-3H7E3@6(36;3F;@9)KEF7?E M AD63@3@6!3>?3;@& @6
6;F;A@

*  !71@=E/D37H;57E3@6;D5G;FE)3?G7>/ 7/=

(($)
( @9;@77D;@9>75FDA?39@7F;5E M$3F:3@63)BD;@97D@6;3&HF"F6$7I7>:; @676


( @9;@77D;@9>75FDA?39@7F;5E M-;>>;3?3KF D3@6 A:@G5=*#F:76


( *D3@E?;EE;A@";@7E3@6$7FIAD=E M+?7E:);@:3)3FK3&D3=3E:3@*75:@6;3&G4>;53F;A@E
$7I7>:;


$/>3@ 
 ( $ 

A67*
 $/>3@ #0831B#@73<B32$@=5@/;;7<5     
CA7<5

$&&%)'('
(
"(&#)(#"(##!$)(&'

!
*ABD7E7@FF:75A@57BFA8 A4<75F AD;7@F76 BDA9D3??;@93@66;E5GEEF:7;?BADF3@F7>7?7@FEA8

#(*'
);@57B>3K3BD76A?;@3@FDA>7;@EA8FI3D767H7>AB?7@F;F;E87>FF:3FF:78A>>AI;@9A4<75F;H7E
53@4735:;7H7638F7DEFG6K;@9F:;EEG4<75F

R+@67DEF3@6F:75A@57BFEA8%4<75FAD;7@F76&DA9D3??;@9
R-D;F7E;?B>73BB>;53F;A@EGE;@9

)<7B H 
%4<75FE D7>3F;@9 FA AF:7D B3D36;9?E 8G@5F;A@3> 63F3 675A?BAE;F;A@ 43E;5 F7D?E 3@6 ;673E
34EFD35F;A@7@53BEG>3F;A@;@:7D;F3@57BA>K?ADB:;E?
(7H;7IA86;887D7@5747FI77@3@65;@5AGF@7I67>7F7AB7D3FADE

)<7B H 

@53BEG>3F;A@ ;@8AD?3F;A@ :;6;@9 34EFD35F 63F3 FKB7E A4<75F  5>3EE7E 3FFD;4GF7E ?7F:A6E 
5>3EE675>3D3F;A@EF3F7;67@F;FK3@647:3H;ADA83@A4<75F5A@EFDG5FADE3@667EFDG5FADE;@EF3@F;3F;A@
A8 A4<75FE 6783G>F B3D3?7F7D H3>G7 A4<75F FKB7E  93D4397 5A>>75F;A@ 6K@3?;5 ?7?ADK
3>>A53F;A@?7F35>3EE 34EFD35F5>3EE7E

)<7B H 

@:7D;F3@57 >3EE :;7D3D5:K 67D;H3F;A@ M BG4>;5 BD;H3F7  BDAF75F76 399D793F;A@  5A?BAE;F;A@ HE


5>3EE;8;53F;A@ :;7D3D5:;7E BA>K?ADB:;E? 53F79AD;L3F;A@ A8 BA>K?ADB:;5 F75:@;CG7E ?7F:A6
BA>K?ADB:;E?BA>K?ADB:;E?4KB3D3?7F7DAB7D3FADAH7D>A36;@9B3D3?7FD;5BA>K?ADB:;E?97@7D;5
8G@5F;A@ M F7?B>3F7 8G@5F;A@ 8G@5F;A@ @3?7 AH7D>A36;@9 AH7DD;6;@9 ;@:7D;F3@57 ?7F:A6E DG@ F;?7
BA>K?ADB:;E?

)<7B H

)F3@63D65>3EE7EGE;@9?G>F;B>7;@:7D;F3@57B7DE;EF3@FA4<75FEEFD73?E3@68;>7E@3?7EB357E
7J57BF;A@ :3@6>;@9 97@7D;5 5>3EE7E EF3@63D6 F7?B>3F7 >;4D3DK ";4D3DK AD93@;L3F;A@ 3@6 5A@F3;@7DE
EF3@63D6 5A@F3;@7DE 3>9AD;F:? 3@6 G@5F;A@ A4<75FE ;F7D3FADE 3@6 3>>A53FADE EFD;@9E EFD73?E
?3@;BG>3FADEGE7D678;@76?3@;BG>3FADEH75FADEH3>3DD3KE>;5797@7D3>;L76@G?7D;53>9AD;F:?
(3FB

*1 2 )";BB?3@ "3<A;7O&D;?7DP D66;F;A@66;EA@-7E>7K

*1 2(,7@G9AB3>(3<=G?3D*(3H;E:3@=7DO#3EF7D;@9P*#

&343@3<13A

(1 2(G?43G9:7F3>O%4<75F%D;7@F76#A67>>;@97E;9@P&D7@F;573>>

(1 2 AA5:O%4<75F%D;7@F767E;9@BB>;53F;A@EP7@<3?;@G??;@9E

(1 2 3>39GDGEI3?KO%4<75F76%D;7@F76&DA9D3??;@9I;F:P*#

(12 ("38AD7O%4<75F%D;7@F76&DA9D3??;@9GE;@9P3>9AF;3

(12 &3D3EA@EO%4<75F%D;7@F76&DA9D3??;@9I;F:P&&G4>;53F;A@

(12 )F7H7@  "3I>AD O*:7 DF A8 &DA9D3??;@9 A?BGF7D )5;7@57 I;F: P ,;=3E

&G4>;53F;A@
$/>3@=23
  ( $ 
$/>3@

 $/>3@ 757B/::31B@=<71A 
$@3@3?C7A7B3A
 3E;5!@AI>7697A8E7?;5A@6G5FADE3@6>75FD;53>)5;7@57
7;
 *AG@67DEF3@6H3D;AGE6;9;F3>EKEF7?E6;9;F3>E3@6F:7;D3BB>;53F;A@E

#0831B7D3A

 (=53BB63<=E:3253/0=CBB6323A75<>@7<17>:3A=427443@3<B2757B/:3:31B@=<7117@1C7BA
 (=ABC2GB63/>>:71/B7=<=4/0=D317@1C7BA

"'(&)(#"'(#$$&'((&' !/F7;C; !/@9A




 'G7EF;A@ $A  E:AG>6 47 5A?BG>EADK 3@6 5AH7D F:7 7@F;D7 EK>>34GE *:;E CG7EF;A@ E:AG>6
:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@EFE:AG>647A8
?3D=E

 B3DF8DA?'G7EF;A@$A D7EFA8F:7B3B7D E:3>>5A@E;EFA88AGDG@;FE3EB7D F:7EK>>34GE


H7DK G@;F E:AG>6 :3H7 FIA CG7EF;A@E AI7H7D EFG67@F ?3K 47 3E=76 FA 3FF7?BF A@>K
CG7EF;A@8DA?735:G@;F35:CG7EF;A@E:AG>647
?3D=E

)<7B 
@3>A9;9;F3>E;9@3>E$%($%*$$$%(.%(93F7EAA>73@3>974D3
)F3@63D6D7BD7E7@F3F;A@A8"A9;53>8G@5F;A@E!?3BD7BD7E7@F3F;A@3@6E;?B>;8;53F;A@A8>A9;53>
8G@5F;A@E 'G;@@#5>GE=KNE >9AD;F:? A@NF 53D7 5A@6;F;A@E .%(  .$%( E;?B>;8;53F;A@ A8
!?3BE-( ( .

)<7B H 
A?4;@3F;A@3>5;D5G;FE#G>F;B>7J7DE67?G>F;B>7J7DE75A67DE@5A67DE667DE)G4FD35FADE
A67A@H7DF7DE5A?B3D3FADE675A67D 6D;H7DE8AD6;EB>3K67H;57E-( ( .

)7CG7@F;3>5;D5G;FE>;B>ABE)( !*>;B8>ABE7J5;F3F;A@F34>7A838>;B8>AB#3EF7D M
)>3H7>;B>ABE697*D;997D76>;B>AB(3573DAG@65A@6;F;A@-( ( .

)<7B H 
):;8FD79;EF7DE(;BB>75AG@F7D7E;9@A8)K@5:DA@AGE5AG@F7DE3@6E7CG7@5767F75FADE-( ( .
*;?7D3@6;FE3BB>;53F;A@3E?A@AEF34>73@63EF34>7?G>F;H;4D3FAD -( ( .
$KCG;EF)3?B>;@9*:7AD7? 3@6 5A@H7DF7DE;@3DKI7;9:F76( ("3667DFKB7
@7FIAD=E)G557EE;H73BBDAJ;?3F;A@";@73DD3?BG3>E>AB7-( ( .
)<7B H
;BA>3D*D3@E;EFAD:3D357D;EF;5E(*"3@6*"5;D5G;FE**""3@6#%)"A9;5
83?;>;7E-( ( .
"A9;5?B>7?7@F3F;A@EGE;@9(%#&"&"-( (.
)7?;5A@6G5FAD#7?AD;7E#7?ADKAD93@;L3F;A@AB7D3F;A@5>3EE;8;53F;A@3@65:3D35F7D;EF;5EA8
?7?AD;7E
(#(%#3@65A@F7@F366D7EE34>7?7?ADK-( ( (.
(3FB
1* 2(& 3;@O#A67D@;9;F3>>75FDA@;5EP*# @66
1* 2#3>H;@A3@6"735:O;9;F3>BD;@5;B>7E3@63BB>;53F;A@EP*#
1* 2#ADD;E#3@AO;9;F3>7E;9@P& @66
1*2( *A55;O;9;F3>)KEF7?EP&

&343@3<13A
1( 2 $39D3F:O>75FDA@;5E@3>A9;9;F3>P& 
1( 2 #/3D4DAG9:O;9;F3>"A9;5BB>;53F;A@3@67E;9@P&-)&G4>;E:;@9
1( 2)$3;O;9;F3>>75FDA@;5E3@6"A9;57E;9@P&
1(23>343@;3@3@63D>EA@O;9;F3>"A9;57E;9@&D;@5;B>7EP-;>7K&G4
$/>3@=23

$/>3@
 (

$/>3@</:=5:31B@=<71A H  

$@3@3?C7A7B3


*:7ADK3@6*75:@A>A9KA8)7?;5A@6G5FADE


@3>A9>75FDA@;5E M

7;

(=C<23@AB/<2B634C<1B7=<=4D/@7=CA/</:=5A/<2B637@/>>:71/B7=<7<3:31B@=<7123A75<

#0831B7D3A

 (= 53B B63 <=E:3253 /0=CB B63 7;>=@B/<B 3:31B@71/: 16/@/1B3@7AB71A /<2 =>3@/B7=< =4 27443@3<B
/</:=5IA
 (=ABC2GB63/>>:71/B7=<=4/0=D3IA7<B6323A75<=43:31B@=<7117@1C7B
"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

 'G7EF;A@$A E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE*:;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@EFE:AG>6
47A8
?3D=E

 B3DF8DA?'G7EF;A@$A D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GEH7DKG@;FE:AG>6:3H7FIACG7EF;A@EAI7H7DEFG67@F
?3K473E=76FA3FF7?BFA@>K CG7EF;A@ 8DA?735:G@;F35:CG7EF;A@E:AG>647
?3D=E

35:G@;F;EA8
:DE

)<7B
!C:B7AB/53 ;>:7473@A  3E53676 3?B>;8;7DE 3>5G>3F;A@ A8 93;@ ?B763@57 3@6 43@6I;6F: 7E;9@ A8
?G>F;EF3973?B>;8;7DE(5AGB>76?B>;8;7D>AI8D7CG7@5K3@6:;9:8D7CG7@5KD7EBA@E7

$=E3@;>:7473@A &AI7D6;EE;B3F;A@E;@FD3@E;EFADE3D?A@;56;EFADF;A@?B>;8;7DE>3EE;8;53F;A@>3EE
>3EE >3EE >3EE 88;5;7@5K &GE:BG>> 3@6 5A?B>7?7@F3DK &GE:BG>> 3?B>;8;7DE *G@76
3?B>;8;7DE1* ( (2

)<7B H
C7:27<5:=19A=4</:=5A ;887D7@F;3>3?B>;8;7D%B3?B#A67>AB3?BB3D3?7F7DEH;DFG3>
9DAG@6@H7DF;@93@6@A@;@H7DF;@93?B>;8;7DE6;887D7@F;3>3?B3667DE,A>F397FA5GDD7@F5GDD7@FFAHA>F397
A@H7DF7D@F79D3FADE;887D7@F;3FADE GDD7@F?;DDADE5F;H7>A36E"7H7>E:;8F7DE1* ( ( 2

)<7B

7<3/@"=< 7<3/@+/D3A6/>7<5 >;BB;@9>3?B;@9;D5G;FEA?B3D3FADE)5:?;FFFD;997D*D;3@9G>3D


3@6E;@7I3H797@7D3FAD#G>F;H;4D3FAD#A@AEF34>73@6EF34>7>A9 3@F;>A95;D5G;FEGE;@9%B3?BEBD75;E;A@
D75F;8;7DE1* ( 2
)<7B H*
1B7D3 7:B3@A  673>;EF;5  (73>;EF;5 D7EBA@E7 A8 8;>F7DE "& & & GFF7D IADF:  :74KE:7H
3BBDAJ;?3F;A@ 8;>F7D 8G@5F;A@E >> B3EE 8;>F7D $AF5: ;>F7D %B7D3F;A@3> FD3@E5A@6G5F3@57 3?B>;8;7D %*
8;>F7DE
>>:71/B7=<A=4</:=5!C:B7>:73@ B:3E7>A5=76>AABEHA>F397D79G>3FADE8G@5F;A@97@7D3FADE
1* ( 2

(3FB==9A
1* 2 >75FDA@;57H;57E3@6;D5G;FE M #;>>?3@3>=;3E3@6)3FK34D3F:3 ;F*3F3#5D3I ;>>

@66

1* 2 (3K3=I3D6O%B3?E3@6";@73D@F79D3F76;D5G;FP& M D66;F;A@

&343@3<13==9A
1( 2 )76D3)?;F:O#;5DA7>75FDA@;5E;D5G;FP%J8AD6+@;H7DE;FK&D7EE F:6;F;A@

1( 2 GBF3O>75FDA@;57H;57E;D5G;FEP)!!3F3D;3 M @66;F;A@

1( 2 (AK5:3G6:3DK) 3;@O";@73D@F79D3F76;D5G;FEP$7I97@F7D@3F;A@3> M

1(2 !G?3D3@6) 3;@O>75FDA@;57H;57E3@6;D5G;FEP&D7@F;573>>A8@6;3


=C@B6'3;3AB3@



* /A323A75<

$/>3@=23 $/>3@ $/>3@  (





,"43E767E;9@ 

$@3@3?C7A7B3


757B/:3:31B@=<71A

7;

(=C<23@AB/<24=<B3<223A75</<2>@=13AA=4$23A75<

#0831B7D3A

 (=53BB63<=E:3253&357AB3@B@/<A43@:3D3::/<5C/53
 (=:3/@<B631=<13>BA=4;=23::7<5/2757B/:AGAB3;CA7<5/@2E/@33A1@7>B7=< /<5C/53
 (=:3/@<B316<7?C3A=4167>23A75<CA7<5>@=5@/;;/0:323D713A

"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

 'G7EF;A@$A E:AG>6475A?BG>EADK 3@65AH7DF:77@F;D7EK>>34GE*:;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@EFE:AG>6


47A8
?3D=E

 B3DF8DA?'G7EF;A@$A D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GEH7DKG@;FE:AG>6:3H7FIACG7EF;A@EAI7H7DEFG67@F
?3K473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F35:CG7EF;A@E:AG>647
?3D=E

/16C<7B=4
6=C@A
+$*
@FDA6G5F;A@FA>A9;583?;>;7E*KB7EA8BDA9D3??;@9>A9;5)&"&"&)3<E=;!G:@:3DF
3D6I3D7)A8FI3D7A67E;9@7E;9@8>AI,"67E;9@7>7?7@FEBDA9D3?EFDG5FGD7FKB7E3@65A@EF3@FE
8G@5F;A@E3@6BDA576GD7E>;4D3D;7E3@6B35=397E)FDG5FGD3>67E;9@7>7?7@FE63F38>AI67E;9@7>7?7@FE
47:3H;AD3>67E;9@7>7?7@FEF;?76;?7@E;A@3@6E;?G>3F;A@EK@F:7E;E1* * ( ( 2
+$*
"%)$75A67DE7@5A67DEF:D77EF3F767H;57E?G>F;B>7J7DE3@667?G>F;B>7J7DEA67A@H7DF7DE
.%(93F7E3@6B3D;FK5;D5G;FE5A?B3D3FADE3667DEEG4FD35FADE"+E3DD7>E:;8F7D5A?B3D3FADE
8>A3F;@9BA;@F7@5A67D6G3>B3D;FK7@5A67D"3F5:7E3@68>;B8>ABE&"E5AG@F7DEE:;8FD79;EF7D3@6F:7;D
,"?A67>EEK@5:DA@AGE67E;9@?7F:A6A>A9K;?B76;?7@FEFAEK@5:DA@AGE67E;9@EK@5:DA@AGE67E;9@
#7F:A6A>A9K1* * ( ( 2

+$*

*)*$*)$#A67>);?G>3F;A@)K@F:7E;E)53@#7F:A6A>A9KG>> )53@3@6&3DF;3>)53@
AG@63DK)53@-D;F;@93*7EF7@5:;887D7@F>7H7>EA8F7EF47@5:G?B;@9(7EG>FE;@FA8;>71* * ( ( 2

+$*,
)**#$)

#AAD7?35:;@7#73>K#35:;@7#73>K3@6#AAD7H3D;3@FEAGFBGFEF3F7?35:;@7?AAD7?35:;@7I;F:
5>A5=76AGFBGFE?73>K?35:;@7I;F:5>A5=76AGFBGFEF3F75A6;@9EK@5:DA@AGEEF3F7?35:;@7E,"
5A6;@91* * ( 2

*.*%%!)
* ;9;F3>7E;9@&D;@5;B>7E&D35F;57E M A:@-3=7D>K& &73DEA@6G53F;A@E;3 D66


* ,"&D;?7D M :3E=7D&73DEA@6G53F;A@ & D66;F;A@

(($)
( ;9;F3>)KEF7?7E;9@+E;@9," M:3D>7E(AF: D&-)&G4>;53F;A@E 
( @FDA6G5F;A@FA"A9;57E;9@ M>3@#3D5AH;FL*# @66;F;A@


( G@63?7@F3>EA8;9;F3>"A9;5I;F:,7D;>A97E;9@ M)F7B:7@DAI@0HA@=A,D3@E7E;5*#


(KBD7EE)7?;5A@6G5FADE3F3AA=AI@>A368DA?I74E;F7
(G@63?7@F3>EA8;9;F3>"A9;5I;F:,"7E;9@ M)F7B:7@ADI@3@60HA@=A,D3?7E;5#5D3I
;>> @66;F;A@


(";@73D@F79D3F76;D5G;FBB>;53F;A@E4K!"3>=;E:AD7&73DEA@6G53F;A@E


)7?,



$/>3@=23


$/>3@

  (

$/>3@=;;C<71/B7=<'GAB3; H  

$@3@3?C7A7B3A

 '75</:A/<2'GAB3;A


=;;C<71/B7=<AGAB3;

7; 

(=)<23@AB/<2 ;=23@<757B/:1=;;C<71/B7=<AGAB3;A

#0831B7D3A 

 (=4/17:7B/B3B63ABC23<BE7B6B630/A71A=42757B/:1=;;C<71/B7=<A/A>31BAB6/B/@3@3?C7@324=@
C<23@AB/<27<5=4 0/A30/<20/<2>/AA/<2E7@3:3AA1=;;C<71/B7=<A
 (= ABC2G B63 1=<13>B /<2 @=:3  =4 >@=0/07:7BG B63=@G /<2 7<4=@;/B7=< B63=@G 7< /<G
1=;;C<71/B7=<AGAB3;

"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

 'G7EF;A@$A E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE*:;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@EFE:AG>6
47A8
?3D=E

 B3DF8DA?'G7EF;A@$A D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GEH7DKG@;FE:AG>6:3H7FIACG7EF;A@EAI7H7DEFG67@F
?3K473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F35:CG7EF;A@E:AG>647
?3D=E

35:G@;F;EA8
:DE

)<7B
(3@6A?&DA57EE&DA434;>;FK(3@6A?H3D;34>7(3@6A?&DA57EE?73@?A?7@FE5ADD7>3F;A@3GFA5ADD7>3F;A@
3@65AH3D;3@578G@5F;A@E7D9A6;5;FKBAI7DEB75FD3>67@E;FK3GEE;3@6;EFD;4GF;A@1* 2

)<7B H
/A30/<2!=2C:/B7=< (7H;7I A8E3?B>;@9 F:7AD7? G@;8AD?3@6@A@G@;8AD? CG3@F;L3F;A@&#&#
###3DKI3H78AD?E5A?B3@6;@9
/A30/<23B31B7=<DDADB7D8AD?3@57679D363F;A@;@5A??G@;53F;A@EKEF7??3J;?G?>;=7>;:AA6D757;H7D
EFDG5FGD7 ?3F5:76 8;>F7DE 7DDAD B7D8AD?3@57 A8 4;@3DK E;9@3>;@9 ;@F7DEK?4A> ;@F7D87D7@57 67?A6G>3F;A@ 3@6
67F75F;A@A8E:3B76BG>E7E5:3@@7>5:3D35F7D;L3F;A@7K7B3FF7D@1* * 2

)<7B

/<2>/AA ;=2C:/B7=< /<2 23;=2C:/B7=< )! )! &)! &)! '&)! #)! 5A:7D7@F 3@6 @A@ 5A:7D7@F
67F75F;A@A8)!)!&)!3@6AF:7D=7K;@9F75:@;CG7E

&DA434;>;FKA84;F7DDAD8AD5A:7D7@F>K67F75F76&)!)!6;887D7@F;3>>K&)!7F53@65A?B3D;EA@A84;F7DDAD
B7D8AD?3@578ADH3D;AGE?A6G>3F;A@FKB7E1* ( ( (2

)<7B H*
7<31=27<5$(0(0I3>E:5A67E#5A6;@9;9:67@E;FK4;BA>3D5A674;@3DKI;F:@L7DAEG4EF;FGF;A@
5A67E

'=C@13  6/<<3: 1=27<5 A@57BF A8 @8AD?3F;A@ (3F7 A8 ;@8AD?3F;A@ 3@6 7@FDABK )AGD57 5A6;@9 8AD
ABF;?G?D3F7A8;@8AD?3F;A@A6;@9788;5;7@5K):3@@A@:3DF>K53B35;FKF:7AD?):3@@A@3@AG88?3@3@6
"0 5A6;@9 DDAD 5A@FDA> 5A6;@9 @FDA6G5F;A@ DDAD 67F75F;A@ 3@6 5ADD75F;A@ 5A67E 4>A5= 5A67E 3@6
5A@HA>GF;A@5A67E1* * ( 2

(3FB==9A
1* 2 *3G4)5:;>>;@9O&D;@5;B>7EA8A??G@;53F;A@)KEF7?EP*# @66;F;A@
1* 2 );?A@3K=;@OA??G@;53F;A@)KEF7?EP A:@-;>7K)A@E@5F:6;F;A@
1* 2 &"3F:;O#A67D@;9;F3>3@6@3>A9A??G@;53F;A@)KEF7?P%J8AD6+@;H7DE;FK&D7EE M D6
6;F;A@
&343@3<13==9A
1( 2 );?A@3K=;@O;9;F3>5A??G@;53F;A@)KEF7?EP-;>7K&G4>;E:7DE

1( 2 -*A?3E;O>75FDA@;55A??G@;53F;A@EEKEF7?E43;5EF:DAG9:36H3@576P&73DEA@6G53F;A@
F:76


1( 2 )3K=;@EO@FDA6G5F;A@FA@3>A93@6;9;F3>A??G@;53F;A@P-;>7K 
1(2 &DA3=;E#)3>7:;OA??G@;53F;A@E)KEF7?E@9;@77D;@9P& @676


&3B7DA67
 " *

&3B7D (@/<A;7AA7=< 7<3A+/D35C723A/<2<B3<</A  

$@3@3?C7A7B3


!/B6A

 $6GA71A


&:KE;5E


!/B6A


<57<33@7<5:31B@=;/5<3B71A

*AG@67DEF3@6F:75A@57BFA8FD3@E?;EE;A@>;@7EI3H79G;67E3@6F:7;D3BB>;53F;A@E
#(*'

 *AG@67DEF3@6F:7BDAB393F;A@A8E;9@3>E
 *AG@67DEF3@65:3D35F7D;EF;5EA8I3H7E
 *AG@67DEF3@6F:75A@57BFA8(7EA@3FADEI3H79G;67E3@F7@@3E
"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

 'G7EF;A@$A E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE*:;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@EFE:AG>6
47A8
?3D=E

 B3DF8DA?'G7EF;A@$A D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GEH7DKG@;FE:AG>6:3H7FIACG7EF;A@EAI7H7DEFG67@F
?3K473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F35:CG7EF;A@E:AG>647
?3D=E

/16C<7B=4
6=C@A

+$*

*D3@E?;EE;A@ >;@7F:7ADK;887D7@FFKB7EA8FD3@E?;EE;A@>;@7E M78;@;F;A@A8:3D35F7D;EF;5


;?B763@573@6&DAB393F;A@A@EF3@F7@7D3>)A>GF;A@A8F:7FD3@E?;EE;A@>;@7 M*:7FIAEF3@63D6
8AD?E8ADHA>F3973@65GDD7@FA83>;@7F7D?;@3F764K3@;?B763@57@BGF;?B763@57A83>AEE>7EE>;@7
F7D?;@3F764K;?B763@57#73@;@9A8D78>75F;A@5A788;5;7@F MI3H7>7@9F:3@6H7>A5;FKA8BDAB393F;A@
;EFADF;A@>7EEFD3@E?;EE;A@>;@7)F3@6;@9I3H7D3F;AA@3>;@7*:7CG3DF7DI3H7>;@73@6;?B763@57
?3F5:;@9E;@9>7EFG4?3F5:;@93@66AG4>7EFG4?3F5:;@9*:7)?;F::3DF MBB>;53F;A@A8F:7
)?;F::3DF MA@H7DE;A@8DA?;?B763@57FAD78>75F;A@5A788;5;7@F3@6H;57H7DE3?B763@57FA
6?;FF3@575A@H7DE;A@3@6H;57H7DE31* **2

+$*
-3H7E47FI77@B3D3>>7>B>3@7EA8B7D875F5A@6G5FADE M*D3@EH7DE77>75FD;53@6FD3@EH7DE7?39@7F;5
I3H7E M5:3D35F7D;EF;5E*D3@EH7DE7>75FDA?39@7F;5I3H7E M,7>A5;F;7EA8BDAB393F;A@ M5A?BA@7@F
G@;8AD?B>3@7I3H7E47FI77@B3D3>>7>B>3@7E MFF7@G3F;A@A8*3@6*#I3H7E-3H7;?B763@57E
*D3@EH7DE7#39@7F;5-3H7E;@(75F3@9G>3D-3H79G;67E M*D3@EH7DE7>75FD;5-3H7E;@(75F3@9G>3D
-3H79G;67E M5:3D35F7D;EF;5A8*3@6*#-3H7E MGFA88I3H7>7@9F:3@6B:3E7H7>A5;FK M
?BAEE;4;>;FKA8*#I3H7E;@I3H79G;67E MA?;@3@F?A67;@D75F3@9G>3DI3H79G;67 MFF7@G3F;A@
A8*3@6*#?A67E;@D75F3@9G>3DI3H79G;67E M-3H7;?B763@57E M5:3D35F7D;EF;5;?B763@57 M
J5;F3F;A@A8?A67E1***2

+$*

;D5G>3DI3H79G;67E3@6D7EA@3FADE7EE7>8G@5F;A@E M)A>GF;A@A88;7>67CG3F;A@E;@5K>;@6D;53>5A
AD6;@3F7E M*#3@6*I3H7E;@5;D5G>3D9G;67E MI3H7;?B763@57E3@65:3D35F7D;EF;5;?B763@57 M
A?;@3@F?A67;@5;D5G>3DI3H79G;67 M7J5;F3F;A@A8?A67E M#;5DAI3H753H;F;7E(75F3@9G>3D
53H;FKD7EA@3FADE5;D5G>3D53H;FKD7EA@3FADE7?;5;D5G>3D53H;FKD7EA@3FAD'835FADA8353H;FK
D7EA@3FAD8AD*
?A671***2

+$* M,

@FDA6G5F;A@FA3@F7@@3:3D35F7D;EF;5E&AI7DD36;3F764K35GDD7@F7>7?7@F7DFL;3@6;BA>73>8
I3H76;BA>7@F7@@3'G3DF7DI3H7?A@ABA>73@F7@@33D8;7>63BBDAJ;?3F;A@"AAB3@F7@@3
*D3@E?;EE;A@>AEE47FI77@3@F7@@3E@F7@@3F7?B7D3FGD73@6E;9@3>FA@A;E7D3F;A@F7@@33DD3KE
(36;3F;A@8DA?35GDD7@FE:77F(36;3F;A@8DA?7>75FDA?39@7F;5:AD@E&3D34A>;5D78>75FAD3@F7@@38AD
E3F7>>;F75A??G@;53F;A@E#;5DAEFD;B3@F7@@3E1* * ***2

*.*%%!)
*  (K67DO$7FIAD=E";@7E3@6;7>6EP&$7I7>:;

+@;F
*  AD63@3@6!3>?3;@O>75FDA#39@7F;5-3H7E3@6(36;3F;@9)KEF7?&$7I7>:;

*  (@/<A;7AA7=< 7<3A@6$7FIAD=E4K );3A6'7<6/

*"*(%$ #!!)"(#")/)*#)/ "",$,)

* <B3<</3@6-3H7&DAB393F;A@4K $@/A/2

* !71@=E/D37H;57E3@6 ;D5G;FE)3?G7>/ 7/=

(($)%%!)
( (3?A-:;@77DK3@6,3@GL7DO;7>6E3@6-3H7E;@A??G@;53F;A@>75FDA@;5EP A:@-;>7K


( 3H;6#&AL3D#;5DAI3H7@9;@77D;@9 M @66;F;A@ M A:@-;>7K
( >7?7@FEA8>75FDA?39@7F;5 M#3FF:7I$%)36;=G%J8AD6+@;H&D7EE D676

&3B7DA67
 "*

&3B7D

  

&3B7D =<B@=:3<57<33@7<5

&D7D7CG;E;F7E


@3>A9>75FDA@;5E


$7FIAD=@3>KE;E

 );9@3>E3@6)KEF7?E

#

*A7H7>ABF:7G@67DEF3@6;@9A8AB7@>AABEKEF7?E3@65>AE76>AAB8776435=5A@FDA>EKEF7?E

%4<75F;H7E

;*AG@67DEF3@6F:7?A67>;@93@647:3H;ADA8F:7>;@73DEKEF7?E

;;*AG@67DEF3@6F:7FD3@E;7@F3@6EF736KEF3F747:3H;ADA8F:7>;@73DEKEF7?E

;;;*AG@67DEF3@6F:7EF34;>;FK3@3>KE;EA8F:7EKEF7?E

"'(&)(#"'(#$$&'((&' !/F7;C;!/@9A

 'G7EF;A@$A E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE*:;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@EFE:AG>6
47A8
?3D=E

 B3DF8DA?'G7EF;A@$A D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GEH7DKG@;FE:AG>6:3H7FIACG7EF;A@EAI7H7DEFG67@F
?3K473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F35:CG7EF;A@E:AG>647
?3D=E
)<7B

78;@;F;A@EA8A@FDA>)KEF7?E>AE76"AAB3@6%B7@"AABA@FDA>J3?B>7EA8A@FDA>)KEF7?E
"3B>357 *D3@E8AD?3F;A@ 3@6 )A>GF;A@ A8 ;887D7@F;3> CG3F;A@E A@57BF A8 #3F:7?3F;53> ?A67>
";@73D3@6$A@";@73D)KEF7?E*D3@E87DG@5F;A@I;F:);?B>7J3?B>7E7D;H;@9FD3@E87D8G@5F;A@
A8B:KE;53>EKEF7?E#75:3@;53>*D3@E>3F;A@3>)KEF7?ED?3FGD75A@FDA>>763@68;7>65A@FDA>>76
E7DHA?AFADEE7DHA?AFADE3@667D;H;@9F:7;DFD3@E87D8G@5F;A@E>A5=;39D3?D7BD7E7@F3F;A@3@6
);?B>;8;53F;A@

)<7B

);9@3>>AI9D3B:#3EA@93;@8AD?G>33E;5A@FDA>5F;A@E&DABADF;A@3>;@F79D3>3@6

7D;H3F;H75A@FDA>>7DE78875FA88776435=A@5A@FDA>EKEF7?*D3@E;7@F3@6EF736KEF3F7

D7EBA@E7A88;DEFAD67DEKEF7?)75A@6AD67DEKEF7?FD3@E;7@F(AGF:NE)F34;>;FK5D;F7D;A@

D7>3F;H7EF34;>;FK3@3>KE;E)F3F;57DDAD5A788;5;7@FEBAE;F;A@H7>A5;FK3@63557>7D3F;A@7DDAD

5A788;5;7@FE

)<7B

(AAF"A5GE *75@;CG7EA67;39D3?#;@;?G?3@6$A@#;@;?G?B:3E7EKEF7?E7F7D?;@3F;A@A8
*D3@E87D8DA?A67;39D3?&A>3D&>AFE$KCG;EF&>AF)F34;>;FK@3>KE;EGE;@9A@EF3@F#$
A5;

)<7B*

@FDA6G5F;A@FAA?B7@E3FADE78;@;F;A@EA8EF3F7EF3F7H3D;34>7EEF3F7EB357D7BD7E7@F3F;A@

A8EKEF7?E)A>GF;A@A8F;?7;@H3D;3@F:A?A97@7AGEEF3F77CG3F;A@EF3F7FD3@E;F;A@?3FD;J

3@6;FEBDAB7DF;7E0FD3@E8AD?3@6EA>GF;A@A86;887D7@F7CG3F;A@*D3@E6G57DEEK@5:DA

FD3@E?;FF7D)F7BB7D#AFAD*35:A97@7D3FADE(AF3F;@9?B>;8;7DE3@6#39@7F;5?B>;8;7DE
(3FB==9A

  $39D3F:#AB3>OA@FDA>)KEF7?@9;@77D;@9P$7I97@F7D@3F;A@3>

 $! 3;@OGFA?3F;5A@FDA>)KEF7?@9;@77D;@9P:3@B3F(3; @66;F;A@

&343@3<13==9A

 %93F3O#A67D@A@FDA>@9;@77D;@9PF:6;F;A@

 !GAOGFA?3F;5A@FDA>)KEF7?EP& MF:6;F;A@


$/>3@=23

$/>3@ (

$/>3@ /B/'B@C1BC@3A/<2:5=@7B6;A  

$@3@3?C7A7B3

*
 @FDA6G5F;A@FAA?BGF7DE

7;

*A:7>BF:7EFG67@FFA67H7>AB3@G@67DEF3@6;@9A8F:763F3EFDG5FGD7E3@6;FE;?B>7?7@F3F;A@E

#0831B7D3A

 FAG@67DEF3@6F:7BD35F;53>3EB75FA863F3AD93@;L3F;A@
 FAG@67DEF3@6F:767E;9@A83>9AD;F:?E

"'(&)(#"'(#$$&'((&'

 'G7EF;A@ $A  E:AG>6 47 5A?BG>EADK 3@6 5AH7D F:7 7@F;D7 EK>>34GE *:;E CG7EF;A@ E:AG>6 :3H7
A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@EFE:AG>647A8
?3D=E

B3DF8DA?'G7EF;A@$A D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GEH7DK
G@;FE:AG>6:3H7FIACG7EF;A@EAI7H7DEFG67@F?3K473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:
G@;F35:CG7EF;A@E:AG>647
?3D=E

)<7B H 

3E;5 *7D?;@A>A9K >7?7@F3DK 3F3 %D93@;L3F;A@ )FDG5FGD7 AB7D3F;A@E >9AD;F:? A?B>7J;FK 3@6 *;?7
)B357 FD367A88 DD3K 78;@;F;A@ (7BD7E7@F3F;A@ 3@6 @3>KE;E );@9>7 3@6 #G>F;6;?7@E;A@3> DD3KE
3BB>;53F;A@ A8 3DD3KE :3D35F7D EFD;@9 AB7D3F;A@ DD3K 3E &3D3?7F7DE %D67D76 ";EF )B3DE7 #3FD;57E 3@6
,75FADE DD3K (7BD7E7@F3F;A@ 3@6 ?B>7?7@F3F;A@ A8 EF35= %B7D3F;A@E A@ )F35=E &GE:  &ABDD3K
(7BD7E7@F3F;A@ A8 )F35= ";@=76 (7BD7E7@F3F;A@ A8 )F35= %B7D3F;A@E EEA5;3F76 I;F: )F35=E BB>;53F;A@ A8
EF35= A@H7DE;A@ A8 @8;J FA &D78;J 3@6 &AEF8;J JBD7EE;A@E H3>G3F;A@ A8 BAEF8;J 7JBD7EE;A@ GE;@9 EF35=
(75GDE;H7 678;@;F;A@ 3@6 BDA57EE7E 7J3?B>7 A8 D75GDE;A@ *AI7D A8 3@A; &DA4>7? 35=FD35=;@9 D75GDE;H7
3>9AD;F:?EBD;@5;B>7EA8D75GDE;A@

)<7B H 
DD3K3@6>;@=76D7BD7E7@F3F;A@3@6;?B>7?7@F3F;A@A8CG7G7E%B7D3F;A@EA@'G7G7D73F7667>7F7G>>
3@6 ?BFK ;D5G>3D CG7G7E CG7G7E 3@6 &D;AD;FK 'G7G7E (7BD7E7@F3F;A@ 3@6 ?B>7?7@F3F;A@ A8 );@9>K
";@=76 ";EFE *IAI3K 7367D ";EF*D3H7DE;@9 3@6 )73D5:;@9 A8 ";@=76 ";EF %H7D8>AI 3@6 +@67D8>AI
@E7DF;A@3@667>7F;A@FA 8DA?";@=76";EFE@E7DF;A@3@667>7F;A@>9AD;F:?EAG4>K>;@=76>;EF";@=76";EF
;@DD3K&A>K@A?;3>D7BD7E7@F3F;A@3@6366;F;A@7@7D3>;L76>;@=76>;EF3D4397A>>75F;A@3@6A?B35F;A@

)<7B H 

;@3DK*D77E;@3DKFD77D7BD7E7@F3F;A@3>974D3;5JBD7EE;A@EA?B>7F7;@3DK*D77JF7@676;@3DK*D77E
DD3K 3@6 ";@=76 (7BD7E7@F3F;A@ A8 ;@3DK FD77E *D3H7DE;@9 ;@3DK FD77E *:D73676 ;@3DK FD77E *D3H7DE;@9
*:D73676 ;@3DK FD77E G88?3@ >9AD;F:? )7CG7@F;3> E73D5: 4;@3DK E73D5: 5A?B3D;EA@ 3@6 3@3>KE;E 3E:
*34>73E:G@5F;A@EA>>;E;A@(7EA>GF;A@)FD3F79;7E3E:*34>7?B>7?7@F3F;A@

)<7B H

@E7DF;A@ )ADF G44>7 )ADF;@9 'G;5= )ADF *IA -3K #7D97 )ADF 73B )ADF ;@3DK )73D5: *D77 )*
@E7DF;A@3@67>7F;A@;@)*A?B>7J;FKA8)73D5:>9AD;F:?&3F:"7@9F:,"*D77EFD77ED3B:E
#G>F;9D3B:E ;D75F76 D3B:E )7CG7@F;3> (7BD7E7@F3F;A@E A8 D3B:E &:KE;53> )FAD397 #76;3 ;>7
%D93@;L3F;A@ %D93@;L3F;A@ A8 D75AD6E ;@FA >A5=E )7CG7@F;3> ;>7E @67J;@9 3@6 3E:;@9 &D;?3DK ;@6;57E
)75A@63DK;@6;57E*D77;@67J;>7E*D77;@67J;>7E@67J;@93@63E:;@9A?B3D;EA@E

(3FB

1* 2))3:@;3@6ADAI;FLO3F3)FDG5FGD7E>9AD;F:?E3@63BB>;53F;A@E;@P @676;F;A@+@;H7DE;F;7E
&D7EE

(787D7@57

1( 2 (;>47D93@6ADAGL3@O3F3EFDG5FGD7E&E7G6A5A673BBDA35:
I;F:P*:A?EA@"73D@;@9

1( 2 ,:A AB5DA8F  +>?3@O3F3)FDG5FGD7E3@6>9AD;F:?P&73DEA@


6G53F;A@

1( 2 *3@7@43G?O3F3)FDG5FGD7EGE;@9P&73DEA@ &

1(2 *AD?7@ "7;E7DEA@("(;H7EFO@FDA6G5F;A@FA>9AD;F:?EP& &73DEA@


 

$/>3@=23  ( $ 
$/>3@
$/>3@ =;>CB3@@167B31BC@3/<2#>3@/B7<5'GAB3; 
$@3@3?C7A7B3A
 !@AI>7697A843E;5;9;F3>>75FDA@;5E43E;53F3)FDG5FGD7E3@63&DA9D3??;@9"3@9G397
7;
 *AG@67DEF3@667E;9@5A@57BFE;@?A67D@5A?BGF7D3D5:;F75FGD7
 *AG@67DEF3@6F:75A@57BFEF:3FG@67D>;7?A67D@AB7D3F;@9EKEF7?E
#0831B7D3A
 *A93;@=@AI>769734AGFA@FDA>+@;F"+3@6+)7E;9@;@3FKB;53>5A?BGF7D
 *A93;@=@AI>769734AGFH3D;AGE8G@5F;A@EA83FKB;53>AB7D3F;@9EKEF7?

"'(&)(#"'(#$$&'((&' !/F7;C; !/@9A




 'G7EF;A@ $A  E:AG>6 47 5A?BG>EADK 3@6 5AH7D F:7 7@F;D7 EK>>34GE *:;E CG7EF;A@ E:AG>6
:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@EFE:AG>647A8
?3D=E

 B3DF8DA?'G7EF;A@$A D7EFA8F:7B3B7D E:3>>5A@E;EFA88AGDG@;FE3EB7D F:7EK>>34GE


H7DK G@;F E:AG>6 :3H7 FIA CG7EF;A@E AI7H7D EFG67@F ?3K 47 3E=76 FA 3FF7?BF A@>K
CG7EF;A@8DA?735:G@;F35:CG7EF;A@E:AG>647
?3D=E

)<7B H
78;@;F;A@ A8 A?BGF7D %D93@;L3F;A@ D5:;F75FGD7 3@6 67E;9@ ;@8AD?3F;A@ D7BD7E7@F3F;A@ (79;EF7D
*D3@E87D 3@6 #;5DAAB7D3F;A@E  (79;EF7D *D3@E87D >3@9G397 D79;EF7D FD3@E87D GE 3@6 ?7?ADK
FD3@E87DE D;F:?7F;5 #;5DAAB7D3F;A@E "A9;5 ?;5DA AB7D3F;A@ E:;8F ?;5DA AB7D3F;A@E "+ 7E;9@
GE43E763D5:;F75FGD7&4GE() ()  +) -( ( .
)<7B
@EFDG5F;A@ 8AD?3FE @EFDG5F;A@ FKB7E @EFDG5F;A@ E7CG7@5;@9 3@6 @F7DBD7F3F;A@ 3D6I;D76 5A@FDA>
#;5DABDA9D3??765A@FDA> %7H;57EA?B3D;EA@A8)3@6()D5:;F75FGD7E%H7DH;7IA8
&;B7>;@73@6,75FAD&DA57EE;@9H;DFG3>?7?ADK535:7?7?ADK -( ( (.
)<7B H
<B@=2C1B7=<B=B63#>3@/B7<5'GAB3; *KB7EA8%)3F5:)KEF7?*;?7):3D;@9)KEF7?(73>
*;?7)KEF7?#G>F;GE7D );@9>7+E7D)KEF7?)KEF7?3>>E)KEF7?3>>@F7D8357-(.
C<1B7=<=4#>3@/B7<5'GAB3; &DA57EE#3@397?7@F#7?ADK#3@397?7@F;>7#3@397?7@F %
7H;57E#3@397?7@F@8AD?3F;A@#3@397?7@F-(.
$@=13AA!/</53;3<B &DA57EEA@57BF&DA57EE)F3F7&DA57EEA@FDA>>A5=&DA57EE)5:76G>;@9
A@F7JF)I;F5:&+)5:76G>;@9)5:76G>;@9D;F7D;3)5:76G>;@9>9AD;F:?E&D7?BF;H7 $A@
&D77?BF;H7)5:76G>;@9*:D736E*:D736)FDG5FGD7-(.
)<7B *
!3;=@G!/</53;3<B 5A@F;9GAGE>>A53F;A@JF7D@3>@F7D@3>D39?7@F3F;A@&39;@9
)79?7@F3F;A@)79?7@F3F;A@I;F:&39;@9-(.

*7@BC/:!3;=@G,;DFG3>#7?ADKA@57BF7?3@6&39;@9&397(7B>357?7@F&(>9AD;F:?E
>>A53F;A@A8D3?7E*:D3E:;@9-AD=;@9E7F#A67>-(.
3D713!/</53;3<B ;E= )FDG5FGD7;E=)5:76G>;@9>9AD;F:?E;E=#3@397?7@F-(.

(3FB
1* 2#ADD;E#3@AOA?BGF7D)KEF7?D5:;F75FGD7P&
1* 2 &3K7EOA?BGF7DD5:;F75FGD73@6%D93@;L3F;A@P#5D3I;>> 
1* 2-)F3>>;@9EOA?BGF7DAD93@;L3F;A@3@6D5:;F75FGD7P&F:76


1*2);>47DE:3FL3@63>H;@O%B7D3F;@9)KEF7?A@57BFP66;F;A@-7E7>7K


1*2 3DB;@7>>;OA?BGF7D)KEF7?E%D93@;L3F;A@3@6D5:;F75FGD7P&73DEA@6G53F;A@


&343@3<13
1( 2 "7@@7EEK3@6&3FF7DEA@OA?BGF7DD5:;F75FGD7CG3@F;F3F;H73BBDA35:P#AD9A@
!3G88?3@  
1( 2)*3@@7@43G?O%B7D3F;@9)KEF7?A@57BFP66;F;A@-7E7>7K


5*+   ! 
'6+8  
'6+8 /)85='<+*+</)+9'4*/8);/:9
8+8+7;/9/:+
  )74>AH0=3)427=>;>6H>5(4<82>=3D2C>AB

 =68=44A8=64;42CA><06=4C82

 )A0=B<8BB8>=;8=4BF0E46D8340=3=C4==0
/3
!5;4*+89:'4* )53654+4:9*+</)+9'4*)/8);/:9;9+*/43/)85='<+,8+7;+4)/+9
(0+):/<+9
 !5 9:;*? :.+ 56+8':/54'4*,;4):/54/4-5, /3658:'4: 3/)85='<+95;8)+9'4**+</)+9
 !59:;*?:.+'662/)':/545,'(5<+ *+</)+9/4)/8);/:99'4*

 !"! ! !!  '>/3;3


'819
 &D4BC8>= #>  B7>D;3 14 2><?D;B>AH 0=3 2>E4A C74 4=C8A4 BH;;01DB )78B @D4BC8>= B7>D;3 70E4
>1942C8E4>AB7>AC0=BF4ACH?4@D4BC8>=BCB7>D;314>5
<0A:B
 ?0AC5A><&D4BC8>=#> A4BC>5C74?0?4AB70;;2>=B8BC >55>DAD=8CB0B?4AC74BH;;01DBE4AH
D=8CB7>D;370E4CF>@D4BC8>=B>F4E4ABCD34=C<0H140B:43C>0CC4<?C>=;H @D4BC8>=5A><
4027D=8C027@D4BC8>=B7>D;314
<0A:B
027D=8C8B>5
7AB
"4/: 
"82A>F0E45A4@D4=2H10=3B"82A>F0E4BHBC4<BCF>?>AC (?0A0<4C4AB
"82A>F0E4H1A8328A2D8CBF0E46D834C44"0682C44H1A83'8=6BF0E46D8342>A=4AB14=3B0=3CF8BCB
8A42C8>=0;2>D?;4AB28A2D;0C>AB0=38B>;0C>AB
/)85='<+ !;(+9 ;HBCA>= <?;8584A '45;4G ;HBCA>= "06=4CA>= 2H;8=3A820; $E4AE84F >5 ),)
.) ) ' /

"4/: 
$ 52/* :':+ +</)+ ?A8=28?;4 >5 >?4A0C8>= 0=3 270A02C4A8BC82B >5 " , 8?>;0A )A0=B8BC>A )D==4;
38>34"()  D==8>34'4038>34 <?0CC)A0?0CC0A8CC .) ' /

"4/:
=CA>3D2C8>= C> "82A>F0E4 4C42C>AB "8G4AB (F8C274B "82A>F0E4 "40BDA4<4=CB "40BDA4<4=CB >5
5A4@D4=2H?>F4A0CC4=D0C8>=?70B4B785C+(,'8<?430=24=CA>3D2C8>=C>"82A>F0E458;C4AB.) )
' /

"4/:#
 =CA>3D2C8>=C>"(CA8?;8=40=3"82A>BCA8?B=CA>3D2C8>= C>501A820C8>=>5"B
4:85*;):/54 :5 '*'8 '030A A0=64 4@D0C8>= $E4AE84F >5 ?D;B43 A030A $E4AE84F >5 , >??;4A
'030A$E4AE84F>5")A030A.) ' ' /

!+>:5519
.) / (-!80>L"82A>F0E44E824B '*)(M% J A3 38C8>=
.) / %>I0AL"82A>F0E4=68=44A8=6M>7=,84;H


+,+8+4)+5519
.' / 4==43HL;42CA>=82><<D=820C8>=(HBC4<M)" C7 38C8>=
.' / D;:0A=8L"82A>F0E4'030A=66M*<4B7%D1;820C8>=B =3 38C8>=
.' / '8II8L"82A>F0E4=66%0BB8E48A2D8CBM% J


.'/ ' >;;8=L>D=30C8>=>5"82A>F0E4=68=44A8=6M"2A0F8;; =3 38C8>= '6+8
5*+   ! 
'6+8     

'6+8 /)85685)+9958'4*4:+8,')/4-
8+8+7;/9/:+9
 
/-/:'22+):854/)9

/3
 !5 ;4*+89:'4*  :.+ '8)./:+):;8+ 685-8'33/4- '4*  /4:+8,')/4- 5, 3/)85685)+99589 '4* :.+/8
'662/)':/549'4**+<+25691/2295,'99+3(2?2'4-;'-+685-8'33/4-

(0+):/<+
 !5-'/4145=2+*-+5,<'8/5;93/)85685)+99589'4*:.+/8;:/2/:?/468'):/)'2'662/)':/549
 !"! ! !!  '>/3;3'819
 &D4BC8>=#> B7>D;3142><?D;B>AH0=32>E4AC744=C8A4BH;;01DB)78B@D4BC8>=B7>D;370E4>1942C8E4>A
B7>AC0=BF4ACH?4@D4BC8>=BCB7>D;314>5
<0A:B
 ?0AC 5A>< &D4BC8>= #>  A4BC >5 C74 ?0?4A B70;; 2>=B8BC >5 5>DA D=8CB 0B ?4A C74 BH;;01DB E4AH D=8C
B7>D;370E4CF>@D4BC8>=B>F4E4ABCD34=C<0H140B:43C>0CC4<?C>=;H @D4BC8>=5A><4027D=8C027
@D4BC8>=B7>D;314
<0A:B

"4/:
4:85*;):/54 J"82A>?A>24BB>ABE>;DC8>=0=3CH?4B=C4;

 J>A4 3D>0=3A>03<0?B%! &


(CD3H >5 
  "82A>?A>24BB>A  %8= >DC B86=0;B 0=3 1DB C8<8=6 8CB 8=C4A=0; 0A278C42CDA4  $E4AE84F >5 

8=BCAD2C8>=B4C0=3?A>6A0<<8=6%! &
(CD3H>5
 J
 
%8=>DC0=3B86=0;B8=C4A=0;0A278C42CDA40=3A468BC4A$A60=8I0C8>=G42DC8>=D=8CDB
=C4A5024 *=8C (86=0; 4B2A8?C8>= %7HB820; "4<>AH $A60=8I0C8>= 4=4A0; DB $?4A0C8>=  $ 033A4BB8=6
20?018;8C84B"8=8<D<<>340=3<0G8<D<<>34C8<8=63806A0<B><?0A8B>=F8C7
%! !
! &

"4/:

?A>6A0<<8=6 J33A4BB8=6<>34B=BCAD2C8>=B4C34B2A8?C8>=BB4<1;4A38A42C8E4B0=3>?4A0C>AB%A>243DA4B
0=3 "02A>B BB4<1;H ;0=6D064 ?A>6A0< 34E4;>?<4=C C>>;B 438C>A ;8=:4A ;>034A ;>20C>A BB4<1;4A 4<D;0C>A
0=341D664A,A8C8=6?A>6A0<B5>ADB4F8C70=0BB4<1;4A*B8=6BB4<1;H!0=6D064F8C7 
0B82"4<>AH0=3 $8=C4A5028=6
=C4AAD?CB0=3=C4AAD?C%A>6A0<<8=6 %! ! &

"4/:
 4:+8,')/4- J 8A42C "4<>AH 224BB 0=3 " 2>=CA>;;43  $ =C4A5028=6 
 F8C7        
  0=3 2>=E4AC4AB#D<4A82?A>24BB>A
 $?A>24BB>A
%! !
&

"4/:#
$E4AE84F >5 0A278C42CDA4 >5 

 
 
 %4=C8D<    + 0=3 >A4  3D> <82A>?A>24BB>AB
$E4AE84F>5<82A>2>=CA>;;4AB0=34<143343?A>24BB>AB2><?0A8B>=F8C7<82A>?A>24BB>AB%! !&

!+>:
.) /0AAHA4H=C4;"82A>?A>24BB>AB C738C8>=%40AB>=3D20C8>= %A4=C8240;;


.) /-!8D0=381B>=L"82A>?A>24BB>A(HBC4<B)74
 
50<8;HA278C42CDA4%A>6A0<<8=6
4B86=M%


.) / '0H0=3 "7DA270=38L3E0=243"82A>?A>24BB>AB0=3%4A8?74A0;BM)"


.)/+0;;L"82A>?A>24BB>AB0=3=C4A5028=6M)" =33  
.)/'( 0>=:0AM"82A>?A>24BB>A A278C42CDA4 %A>6A0<<8=6 0=3 ??;820C8>=B F8C7 
 

M,8;4H 0BC4A=
!8<8C43 
.)/>3B4%>3B4L"82A>2>=CA>;;4AB0=3<143343(HBC4<BM)427=820;%D1;820C8>=B%D=4
+,+8+4)+9
.' /!=C>=0:4BL==CA>3D2C8>=C>C74=C4;0<8;H>5"82A>?A>24BB>ABM)7><B>= 
.' / H0;0L)74
<82A>?A>24BB>AM)7><B>= 
.' /%4C4A1;4L"%0BB4<1;H;0=6D064?A>6A0<<8=6M%


'6+85*+ 
'6+8    ! 

'6+8

8++7;/9/:+954+

/3!5;4*+89:'4*)54)+6:95,+2':/54'2':'('9+9'4*/:9'))+99/4-:5529

(0+):/<+9!5-+::.+145=2+*-+5,*':'35*+2/4-'4*/:9)533+8)/'2'662/)':/549+9/-4/4-5,*':'('9+9
'4*:5-+:/46;:9.5=:5+,,/)/+4:2?'))+99*':'('9+9

 !"! ! !!  '>/3;3'819


  &D4BC8>=#> B7>D;3142><?D;B>AH0=32>E4AC744=C8A4BH;;01DB)78B@D4BC8>=B7>D;370E4>1942C8E4>A
B7>AC0=BF4ACH?4@D4BC8>=BCB7>D;314>5
<0A:B
 ?0AC5A><&D4BC8>=#> A4BC>5C74?0?4AB70;;2>=B8BC>55>DAD=8CB0B?4AC74BH;;01DB
E4AHD=8CB7>D;370E4CF>@D4BC8>=B>F4E4ABCD34=C<0H140B:43C>0CC4<?C>=;H
@D4BC8>=5A><4027D=8C027@D4BC8>=B7>D;314
<0A:B

').;4/:/95, 89

"! 

0B822>=24?CB0C010B4BHBC4<B70A02C4A8BC82B>5C7430C010B42>=24?CB0=30A278C42CDA40C0<>34;BB274<0B
 8=BC0=24B '"( 0A278C42CDA4  30C0 8=34?4=34=24 0C010B4 ;0=6D064B  8=C4A5024B 0C010B4 DB4AB 
0C0 "0=064A 0C0 <>34;8=6 DB8=6 C74 4=C8CHA4;0C8>=B78? 0??A>027 GC4=343 ' 540CDA4B >=E4AB8>= >5 '
<>34;C>A4;0C8>=0;<>34;

"!


'4;0C8>=0; <>34; ;0=6D064B  BHBC4<B '4;0C8>=0; 30C0 <>34; >A<0; &D4AH !0=6D064B
'4;0C8>=0; 0;641A0 '4;0C8>=0; 0;2D;DB ><<4A280; &D4AH !0=6D064B (&! J "! 0C0
CH?4B &D4A84B (D1 @D4A84B >8=B 8= (&! 0C0 3458=8C8>= DB8=6 (&!  ! B?4285H8=6
2>=BCA08=CB0=38=34G4B8=(&!0C010B4E84FB(&! J!'>;4B%A8E8;464B

"! 

'4;0C8>=0;30C010B434B86=D=2C8>=0;34?4=34=284B=>A<0;8I0C8>=5>AA4;0C8>=0;30C010B4B;>BDA4>55D=2C8>=0;
34?4=34=284B A<BCA>=6KB G8><B >=24?C >5 :4HB !>BB;4BB 9>8= 0=3 34?4=34=2H ?A4B4AE8=6 342><?>B8C8>=
#>A<0;5>A<B10B43>=5D=2C8>=0;34?4=34=284B # # ###>A<0;>A<B3D4C><D;C8E0;D430=3
9>8=34?4=34=284B#0=3# #

"! 

>=2DAA4=2H 2>=CA>;  A42>E4AH C427=8@D4B )A0=B02C8>=B  ?A>?4AC84B >5 CA0=B02C8>=B (4A80;8I018;8CH !>2:
10B43 ?A>C>2>;B)8<4 BC0<? >A34A8=6 10B43 ?A>C>2>; A0=D;0A8CH >5 30C0 8C4<B '42>E4AH C427=8@D4B !>6 10B43
0=3(703>F?068=6C427=8@D4B

'"(A278C42CDA4!>6820;0C0(CAD2CDA4B%7HB820;0C0(CAD2CDA4=BC0=24B)01;4(?024B=C4A=0;"4<>AH
(CAD2CDA4 02:6A>D=3 %A>24BB4B (C>A43 %A>243DA4B *B4A 458=43 D=2C8>=B DAB>AB 0C010B4 )A8664AB 0B4
(CD3H$A02;4G8   "H(&!=H>=4
!+>:5519

!  ;<B0A80=3#0E0C74LD=30<4=C0;B>50C010B4(HBC4<BM%40AB>=3D20C8>=

!
 (8;14AB20CI 4=AH  >AC7 ( (D30AB70= L0C010B4 (HBC4< >=24?CBM 85C7 38C8>= )0C0
"2A0F8;;

+,+8+4)+5519

 0C4L=8=CA>3D2C8>=C>30C010B4BHBC4<BMA338C8>=338B>=,4B;4H


( (8=67L0C010B4(HBC4<B>=24?C4B86=0=3??;820C8>=BM%40AB>=3D20C8>=

  8554AL0C010B4(HBC4<B=??;820C8>=>A84=C43??A>027M%40AB>=3D20C8>=

 *;;<0=L%A8=28?0;B>530C010B4BHBC4<BM0;6>C80?D1;820C8>=B

  4B08L=8=CA>3D2C8>=C>30C010B42>=24?CBM0;6>C80?D1;820C8>=B

'454A4=24"0=D0;$A02;4G8   "H(&!


'6+85*+    ! 
'6+8     

'6+8 :5).'9:/) ?9:+39'4*85)+99

8+8+7;/9/:+9
  "0C74<0C82B
 "0C74<0C82B

/3
!59:;*?,;4*'3+4:'2)54)+6:95,68'('(2/:?:.+58?'4*(+'(2+:5'4'2?9+'4*952<+68'):/)'2685(2+395,
)533;4/)':/54'4*9/-4'2685)+99/4-

(0+):/<+
 !5 3'1+ :.+ 9:;*+4:9 ,'3/2/'8 =/:. 685('(/2/9:/) 35*+29 5, *':' */9:8/(;:/54 ,;4):/549 '4* :.+/8
'662/)':/54:5685(2+395,685('(/2/:?
 !.+9:;*+4: =/222+'84'4*53#'8/'(2+'4*85)+99+9'4*8+96549+5,9?9:+39=/:.9:5).'9:/)/46;:

"4/:
(4CB %A>1018;8CH >=38C8>=0; %A>1018;8CH 4A=>D;;8 )A80;B BH<?C>C82 )74>A4<B  %>8BB>= )74>A4< '0=3><
+0A801;4B 8BCA81DC8>= 0=3 4=B8CH D=2C8>=B >=38C8>=0; 0=3 )>C0; %A>1018;8CH "40= +0A80=24 "><4=CB
D<D;0=CB70A02C4A8BC82D=2C8>=B.) /

"4/:
8E0A80C4 0=3 "D;C8E0A80C4 '0=3>< +0A801;4B >8=C "><4=CB >8=C 70A02C4A8BC82 D=2C8>=B >=38C8>=0;
8BCA81DC8>=B >=38C8>=0;G?42C43+0;D4B(4@D4=24B>5 '0=3>< E0A801;4B"40=(@D0A4BC8<0C8>=(C>270BC82
>=E4A64=240=3!8<8C)74>A4<B'0=3><#D<14AB"40=8=60=34=4A0C8>=%0A0<4C4ABC8<0C8>=H?>C74B8B
)4BC8=6.) /

"4/:
(HBC4<B F8C7 (C>270BC82 =?DCB %>F4A (?42CAD< 868C0; %A>24BB4B '0=3>< ,0;:B A>F=80= ">C8>= )74A<0;
#>8B4%>8BB>=%>8=C0=3(7>C#>8B4">3D;0C8>=H2;>BC0C8>=0AH%A>24BB4B0=3;8<8C43%A>24BB4B0=3(0<?;8=6
)74>AH(?42CA0;'4?A4B4=C0C8>=.) ' /

"4/:#
A6>3828CH (?42CA0; BC8<0C8>= GCA0?>;0C8>= 0=3 (HBC4< 34=C85820C8>= %A4382C8>= 8;C4A8=6 0;<0= 8;C4AB
=CA>?H"0G8<D<=CA>?H%A8=28?;4"0A:>E%A>24BB4B.) ' '
/

!+>:
! %>?>D;8B0=3(+%8;;08L%A>1018;8CH'0=3><+0A801;4B0=3(C>270BC82%A>24BB4BM)"

+,+8+4)+9
 )89<BL8ABC>DAB48=(C>270BC82">34;BM,8;4H



('>BBL8ABC>DAB48=%A>1018;8CHM% 
 ,4;;4AL==CA>3D2C8>=C>%A>1018;8CH)74>AH0=38CB??;820C8>=BME>; ,8;4H 
  (270HL=CA>3D2C8>=C>%A>1018;8CHF8C7(C0C8BC820;??;820C8>=BM8A:70DB4A


 ))(>>=6LD=030<4=C0;B>5%A>1018;8CH0=3(C0C8BC82B5>A=68=44ABM,8;4H


! >A0;>E0=3-(8=08L)74>AH>5%A>1018;8CH0=3'0=3><%A>24BB4BM(?A8=64A


  % BD L)74>AH 0=3 %A>1;4<B >5 %A>1018;8CH '0=3>< +0A801;4B 0=3 '0=3>< %A>24BB4BM (270D<KB
$DC;8=4(4A84B" 
+(:>A>:7>3L0B82%A8=28?;4B0=3??;820C8>=B>5%A>1018;8CH)74>AHM(?A8=64A


  >;27 ( A48=4A  34 "44A 0=3  ( )A8E438 L&D4D48=6 #4CF>A:B 0=3 "0A:>E 708=BM ,8;4H


$3(52'(   
$3(5  

$3(5 ,*,7$/,*1$/52&(66,1*33/,&$7,216

5(5(48,6,7(6
'86=0;B0=3'HBC4<B
,0
23529,'(,1'(37+.12:/('*(2)9$5,286',*,7$/6,*1$/352&(66,1*7(&+1,48(6$1''(6,*12)',*,7$/),/7(56

%-(&7,9(
 2/($517+(&21&(372)  $/*25,7+06 
 (6,*12)',*,7$/),/7(5686,1*',))(5(17$3352;,0$7,216352&(6625$1'$5&+,7(&785(
 !    $;,080$5.6 

 %D4BC8>=">
B7>D;3142><?D;B>AH0=32>E4AC744=C8A4BH;;01DB(78B@D4BC8>=B7>D;370E4>1942C8E4>A
B7>AC0=BF4ACH?4@D4BC8>=BCB7>D;314>5 <0A:B
 ?0AC 5A>< %D4BC8>= ">
 A4BC >5 C74 ?0?4A B70;; 2>=B8BC >5 5>DA D=8CB 0B ?4A C74 BH;;01DB E4AH D=8C
B7>D;370E4CF>@D4BC8>=B>F4E4ABCD34=C<0H140B:43C>0CC4<?C>=;H
@D4BC8>=5A><4027D=8C027
@D4BC8>=B7>D;314
<0A:B

!1,7
((;6>A8C7<B8;14ACCA0=B5>A<BC018;8CHBCAD2CDA4B>5&&58;C4AB4B86=>5&58;C4ADB8=6F8=3>F
<4C7>3$0A:!23;40A3<4C7>35542C>558=8C4A468BC4A;4=6C78=&58;C4A34B86=.(
&
/

!1,7
4B86=>5&58;C4ADCC4AF>AC72741HB74E0=34;;8?C820??A>G8<0C8>=CA0=B5>A<0C8>=<4C7>3B $$$'
58;C4AB .(
&
& /

!1,7
;6>A8C7<B5>A>?C8<8I0C8>=B0=334B86=>53868C0;58;C4AB
30?C8E48;C4AB0;<0=58;C4AF84=4A58;C4AB0??;820C8>=B8=030?C8E458;C4A8=6.(
&
/

!1,7"
$0A0<4CA820=3=>=?0A0<4CA82B?0C80;4BC8<0C8>=8=CA>3D2C8>=C><D;C8A0C4B86=0;?A>24BB8=6??;820C8>=>5'$C>
B?44270=3&030AB86=0;?A>24BB8=6'$?A>24BB>A0A278C42CDA4
.(
( &
/

(;722.6
 $A>0:80BL868C0;'86=0;$A>24BB8=6M$ J A338C8>=
 #?4=748=6'27054AL868C0;'86=0;$A>24BB8=6M$ J

()(5(1&(22.6
 '!8CA0L868C0;'86=0;$A>24BB8=6M$ J =338C8>=
 >7=H>7=B>=L=CA>3D2C8>=C>868C0;'86=0;$A>24BB8=6M$ J
 
$3(52'( 
 
$3(5  



$0?4A 20387(5(7:25.,1*

5(5(48,6,7(6
(
=CA>3D2C8>=C>><?DC4AB


(>D=34ABC0=310B822>=24?CBA4;0C43C>30C02><<D=820C8>=DB8=62><?DC4A=4CF>A:B

%-(&7,9(6

 (>D=34ABC0=3=4CF>A:<>34;B
 (>64CC74:=>F;4364>538554A4=C;0H4AB>5'##'0=3($$=4CF>A:<>34;B

 !    $;,080$5.6 

 %D4BC8>=">
B7>D;3142><?D;B>AH0=32>E4AC744=C8A4BH;;01DB(78B@D4BC8>=B7>D;370E4>1942C8E4>A
B7>AC0=BF4ACH?4@D4BC8>=BCB7>D;314>5 <0A:B
 ?0AC 5A>< %D4BC8>= ">
 A4BC >5 C74 ?0?4A B70;; 2>=B8BC >5 5>DA D=8CB 0B ?4A C74 BH;;01DB E4AH D=8C
B7>D;370E4CF>@D4BC8>=B>F4E4ABCD34=C<0H140B:43C>0CC4<?C>=;H
@D4BC8>=5A><4027D=8C027
@D4BC8>=B7>D;314
<0A:B


1752'8&7,21 )B4B>5><?DC4A"4CF>A:B"4CF>A:0=3$A>C>2>;A278C42CDA4&454A4=24!>34;'##'
($$#E4AE84F
+<6,&$/$<(5 0C00=3B86=0;B(A0=B<8BB8>=8<?08A<4=CB0C0A0C4;8<8CB?4A5>A<0=24502C>AB(A0=B<8BB8>=
<4380+8A4;4BBCA0=B<8BB8>=(4;4?7>=4BHBC4<'CAD2CDA4CAD=:B<D;C8?;4G8=6'F8C278=6

!1,7
$7$ ,1. $<(5 4B86= 8BBD4B AA>A 34C42C8>=  2>AA42C8>= 0C0 8=: $A>C>2>;B B;838=6 F8=3>F ?A>C>2>;B
 +"$A>C>2>;B 70==4;0;;>20C8>=?A>1;4<<D;C8?;40224BB?A>C>2>;BBC0=30A3    

5>A
"'0=3+ "7867B?443 "B"4CF>A:4E824BA4?40C4AB7D1BBF8C274B1A8364B

!1,7
(7:25. $<(5 4B86= 8BBD4B $E   &>DC8=6 $A>C>2>;B &$ #'$ 0=3 $ =C4A=4CF>A: ?A>C>2>;B
=C4A=4CF>A:>?4A0C8>=

!1,7"!33(5$<(56
($)$=CA>3D2C8>=C>0??;820C8>=;0H4A?A>C>2>;BD270B"'(($4<08;($4C2

(;7

 >A>DI0=M0C0><<D=820C8>=B"4CF>A:8=6M C73(0C0!2A0F8;; 
 '(0=4=10D<L><?DC4A=4CF>A:BM$40AB>=3D20C8>= C743 

()(5(1&(6

 +'C0;;8=6BL0C00=3><?DC4A><<D=820C8>=BM$40AB>=3D20C8>= C73 
 ><4AL><?DC4A"4CF>A:B=C4A=4CBM$40AB>=3D20C8>= C73 
 "#;854A0=3*#;854AL><?DC4A"4CF>A:BM+8;4H 
  $4C4AB>=0=3'0E84L><?DC4A"4CF>A:BM;B4E84A C73 
   0;;> L><?DC4A ><<D=820C8>=B  =4CF>A:8=6 C427=>;>684BM 4=6064 40A=8=6 =380
BC 3

$3(52'(    
$3(5    

$3(51)250$7,21 +(25<$1'2',1*

5(5(48,6,7(6

><<D=820C8>='HBC4<B

,0
281'(567$1'7+(&21&(372),1)250$7,21$1'678'<9$5,2867<3(62)&2',1*6&+(0(67+(,5$33/,&$7,2172
&20081,&$7,21

%-(&7,9(
 +(678'(17:,///($51$%2870$7+(0$7,&$/02'(/2),1)250$7,21(17523<$1'9$5,2867<3(62)
&+$11(/$1'7+(,5&$3$&,7<
 +(678'(176:,//%($%/(72$33/<$1'&203$5(7+(3(5)250$1&(2)',))(5(17&2'(672,1)250$7,21

!1,7
458=8C8>=B )=8@D4;H 42>301;4 >34B =BC0=C0=4>DB >34B A05CB =4@D0;8CH !2!8;;0=KB =4@D0;8CH #?C8<0;
>34B 8=0AH D55<0= >34B A0AH D55<0= 2>34B =5>A<0C8>= 0=3 =CA>?H $A>?4AC84B >5 =CA>?H D=2C8>=
=CA>?H 0=3 E4A064 +>A3 4=6C7 '70==>=0=> >38=6 '70==>=KB 8ABC (74>A4< =5>A<0C8>= 70==4;B
8=0AH 'H<<4CA82 70==4; 'HBC4< =CA>?84B 'HBC4< =CA>?84B 5>A 8=0AH 'H<<4CA82 70==4; GC4=B8>= >5
'70==>=KB 8ABC (74>A4< C> =5>A<0C8>= 70==4;B !DCD0; =5>A<0C8>= !DCD0; =5>A<0C8>= 5>A C74 8=0AH
'H<<4CA82 70==4; 0<<8=6 8BC0=24 '70==>=KB '42>=3 D=30<4=C0; (74>A4< >=E4AB4 >5 '70==>=KB
(74>A4<B.(
( &
/

!1,7
8=40A>34B;>2:>34B 8=40A>34B0<<8=6>34B!09>A8CH >682>38=6+4867C=D<4A0C>AB(74 44
!4CA82030<0A3>34B>;0H>34B8=0AH0=3(4A=0AH&443!D;;4A>34B=34A3>2:>34B>D=3B>=
>34B 8;14AC >D=3 )??4A >D=3 8=40A $A>6A0<<8=6 >D=3B 0<<8=6KB '?74A4 J$02:8=6 >D=3 8;14AC
*0AB70<>E>D=3030<0A3!0CA824B0=3>34B.(
( /

!1,7
H2;82 >34B 4=4A0C>A !0CA8G 742: ?>;H=><80; -4A>B >5 H2;82 >34B  >34B &443'>;><>= >34B
%D03A0C82 &4B83D4 >34B 4=4A0;8I43 &443!D;;4A >34B $4A542C >34B 0=3 )=85>A<;H $02:43 >34B ;>H3KB
(74>A4<70A02C4A8BC82$>;H=><80;>50>34)=85>A<;H$02:43>34B">=4G8BC4=24(74>A4<B.( &
& /

!1,7"
%D0C4A=0AH>34B8=0AH>34B4A8E435A><2>34B>E4A- 0;>8B&8=6B>E4A- H2;82>34B>E4A- >??0
>34B ;641A082 DAE4B 8E8B>AB 8554A4=C80;B >= 0 DAE4 &84<0== J &>27 (74>A4< >34B 5A>< ;641A082
DAE4B A8C7<4C82>34B">34B!0=34;10D< J0AA>FB>34B>=E>;DC8>=0;>34B.(
( ( /

(;7
>=4B0=3!>=4BL=5>A<0C8>=0=3>38=6(74>AHM'?A8=64A 
E0= 8=CL=CA>3D2C8>=C>>38=6(74>AHM'?A8=64A

>E4A(7><0BL;4<4=CB>5=5>A<0C8>=(74>AHM0=3+8;4H 
()(5(1&(
&+0<<8=6L>38=60=3=5>A<0C8>=(74>AHM$A4=C8240;;

(!>E4A0=3(7><0BL;4<4=CB>5=5>A<0C8>=(74>AHM+8;4H


 &;07DCL$A8=28?;4B0=3$A02C824>5=5>A<0C8>=(74>AHM+ 


78=278=L!0C74<0C820;>D=30C8>=B>5=5>A<0C8>=(74>AHM>E4A

 !&4I0L==CA>3D2C8>=C>=5>A<0C8>=(74>AHM>E4A
 
  &B7L=5>A<0C8>=(74>AHM>E4A
 
 (!>>=LAA>A>AA42C8>=>38=6!0C74<0C820;!4C7>3B0=3;6>A8C7<BM+8;4H 
+D55<0=0=3*$;4BBLD=30<4=C0;B>5AA>A J>AA42C8=6>34BM)$ 
 ' 8=0=3>BC4;;>LAA>A>=CA>;>38=6D=30<4=C0;B0=3??;820C8>=M
 
&!>A4;>B-0A06>I0L(74AC>5AA>A>AA42C8=6>34BM+8;4H 
&;07DCL(74>AH0=3$A02C824>5AA>A>=CA>;>34BM+ 
 
$3(52'( 
$3(5   
 

$3(5 (/(&20081,&$7,21(7:25.
5(5(48,6,7(

 ><<D=820C8>=B'HBC4<B

,0
2+(/37+(678'(1772'(9(/23$181'(567$1',1*2)7+(7(/(&20081,&$7,211(7:25.

%-(&7,9(6

 7281'(567$1'7+(%$6,&7(/(3+21<6758&785(
 7281'(567$1'7+($'9$1&(+$5':$5(5(48,5(0(17)25'$7$&20081,&$7,21

 !   

%D4BC8>=">
B7>D;3142><?D;B>AH0=32>E4AC744=C8A4BH;;01DB(78B@D4BC8>=B7>D;370E4>1942C8E4>AB7>AC
0=BF4ACH?4@D4BC8>=BCB7>D;314>5 <0A:B
?0AC5A><%D4BC8>=">
A4BC>5C74?0?4AB70;;2>=B8BC>55>DAD=8CB0B?4AC74BH;;01DBE4AHD=8CB7>D;370E4
CF>@D4BC8>=B>F4E4ABCD34=C<0H140B:43C>0CC4<?C>=;H
@D4BC8>=5A><4027D=8C027@D4BC8>=B7>D;314

<0A:B

! 

=CA>3D2C8>=C>(4;42><<D=820C8>==4CF>A:B$6,&:,7&+,1*<67(00$18$/$1'(/(&7520$*1(7,&(;&+$1*(6
21752/ 2) 6:,7&+,1* 6<67(0 'C>A43 $A>6A0<<4 >=CA>; 4=CA0;8I43 '$ 8BCA81DC43 '$ '>5CF0A4
A278C42CDA4??;820C8>='>5CF0A4
3$&(',9,6,21 6:,7&+,1* (F>BC064=4CF>A:!D;C8BC064=4CF>A:;>2:8=6?A>1018;8C84B 446A0?7B
,0(,9,6,21:,7&+,1* (8<48E8B8>=B?024BF8C278=6(8<48E8B8>=(8<4'F8C278=6(8<4<D;C8?;4G43B?024
BF8C278=6 (8<4 <D;C8?;4G43 (8<4 'F8C278=6 ><18=0C8>= 'F8C278=6CF> BC064 (''( BF8C27 !D;C8BC064
'F8C278=6 =4CF>A:B ('( '(' =BC064 BF8C274B ;>2:8=6 ?A>1018;8C84B 44 6A0?7B >5 <D;C8BC064 BF8C278=6
=4CF>A:B

!1,7

'#"(''#"(!D;C8?;4G8=6#E4AE84F'#"(A0<4>A<0CB'#"(#?4A0C8>=B3<8=8BCA0C8>=0=3
!08=C4=0=24$0H;>03A0<8=60=3A4@D4=2HDBC85820C8>=*8ACD0;(A81DC0A84B' $0H;>03!0??8=6 $0H;>03
!0??8=6 '#"( #?C820; 'C0=30A3B '#"( "4CF>A:B '#"( &8=6B )=838A42C8>=0; $0C7'F8C2743 &8=6
838A42C8>=0; 8=4'F8C2743 &8=6 '" '" 0B82 &0C4 224BB A278C42CDA4 '" ) =C4A5024 '" 
70==4;$A>C>2>;8670C0&0C4868C0; 'D1B2A814A >>?B BH<<4CA82868C0; 'D1B2A814A 8=4*' 868C0;
>>? 0AA84A 'HBC4<B )=8E4AB0; 868C0; >>? 0AA84A 'HBC4<B =C46A0C43 868C0; >>? 0AA84A 'HBC4<B "4GC
4=4A0C8>=868C0; >>?0AA84A814A8=C74 >>?H1A83814A>0G'HBC4<B

! 

(A05582 70A02C4A8I0C8>= AA8E0; 8BCA81DC8>=B >;38=6 (8<4 8BCA81DC8>=B >BB 'HBC4<B "4CF>A: ;>2:8=6
$A>1018;8C84B =3C>=3 ;>2:8=6 $A>1018;8C84B #E4A5;>F (A05582 4;0H 'HBC4<B G?>=4=C80; B4AE824 (8<4B
>=BC0=C'4AE824(8<4B8=8C4%D4D4B(4;42><<D=820C8>=CA0=B<8BB8>=0=3'D1B2A814A;>>?B01;4784A0A27H5>A
BD1B2A814A ;>>?B &454A4=24 4@D8E0;4=CB & (F> F8A4 C> 5>DA F8A4 8=C4A5024 27>4B 0=3 B8=68=6 27>
BD??A4BB>AB0=3427>20=24;;4AB'D1B2A814A;>>?8=C4A5024' 0=3#&'( 5D=2C8>=B'F8C278=684A0A27H
0=3 &>DC8=6 (A0=B<8BB8>= $;0=B '86=0;8=6 (427=8@D4B = 270==4; *>824 5A4@D4=2H B86=0;8=6 $! B86=0;8=6
><<>=270==4;B86=0;8=6#E4AE84F>5''0=3''B86=0;8=6BHBC4<B

!1,7"

(7:25.(5)250$1&($1'0$1$*(0(17(8<8=6(8<8=6&42>E4AH$70B4 >2:43 >>?;>2:=BC018;8CH8CC4A


!40BDA4<4=CB 'HBC4<0C82 8CC4A (8<8=6 =022DA0284B ';8?B BH=27A>=>DB !D;C8?;4G8=6 "4CF>A:
'H=27A>=8I0C8>=

(!>=24?C8=C4A5024BC0=30A3B ??;820C8>=B

A0<4A4;0H>=24?C10B82>?4A0C8>=

B?4285820C8>=B5A0<45>A<0C34B86=8BBD4B

# 
.(
/4;;0<H>7=L868C0;(4;4?7>=HM>7=+8;H'>=B=2 A343= 

.( /*8BF0=0C70=(L(4;42><<D=820C8>='F8C278=6'HBC4<0=3"4CF>A:BM$A4=C8240;;>5=380 C3
 

()(5(1&(22.6

.&
/ ;>>3L(4;42><<D=820C8>= BF8C278=6 0=3CA05582=4CF>A:BM$40AB>=43D20C8>= 

.& / A44<0=L(4;42><<D=820C8>= BHBC4<B 4=68=44A8=6M+84;H"4F,>A: J A338C8>=

.& / +(><0B8L;42CA>=82B><<D=820C8>=BHBC4<BM$40AB>= JC738C8>=


.& / $ 0C78L!>34A=0=0;>60=33868C0;2><<D=820C8>=BHBC4<BM#G5>A3 A338C8>=
$3(52'( 
$3(5    

$3(5 372/(&7521,&37,&$/ 20081,&$7,21 

5(5(48,6,7(

=0;>6;42CA>=82B J 

><<D=820C8>=B'HBC4<B J 

,0
281'(567$1' 237,&$/),%(5&20081,&$7,21$1'),%(5 %$6('1(7:25.,1*
%-(&7,9(6
 2,1752'8&(%$6,& &+$5$&7(5,67,&6$1'23(5$7,212)237,&$/),%(5$1'2372(/(&7521,&'(9,&(6
 2678'<7+($33/,&$7,212) 237,&$/),%(56 ,1&20081,&$7,21$1'1(7:25.6
 !    $;,080
$5.6 

 %D4BC8>= ">
 B7>D;3 14 2><?D;B>AH 0=3 2>E4A C74 4=C8A4 BH;;01DB (78B @D4BC8>= B7>D;3 70E4
>1942C8E4>AB7>AC0=BF4ACH?4@D4BC8>=BCB7>D;314>5 <0A:B
 ?0AC5A><%D4BC8>=">
A4BC>5C74?0?4AB70;;2>=B8BC>55>DAD=8CB0B?4AC74BH;;01DB E4AH
D=8CB7>D;370E4CF>@D4BC8>=B>F4E4A BCD34=C<0H140B:43C>0CC4<?C>=;H
@D4BC8>=5A><
4027D=8C027@D4BC8>=B7>D;314
<0A:B
027D=8C8B>5
7AB
!1,7
0B82 #?C820; ><<D=820C8>= 'HBC4< 3E0=C064 >5 #?C820; ><<D=820C8>= 'HBC4< &0H C74>AH
CA0=B<8BB8>= B:4F A0HB !>34 C74>AH $A>?060C8>= 8= 384;42CA82 +0E46D834B =CA>3D2C8>= 'C4?8=34G
814AB A0343 =34G 814AB !>34B  &0HB ';01 +0E4 D834 B8=6;4 <>34 5814AB 2DC>55 F0E4;4=6C7
<>34584;3380<4C4A45542C8E4A45A02C8E48=34G5>AB8=6;4<>345814A.(
&
/

!1,7 = 
(A0=B<8BB8>= 70A02C4A8BC82B >5 #?C820; 5814A CC4=D0C8>= 8= >?C820; 5814AB 8=CA8=B82 0=3 4GCA8=B82
01B>A?C8>= ;8=40A 0=3 =>= ;8=40A B20CC4A8=6 ;>BB4B 5814A 14=3 ;>BB4B 8B?4AB8>= 0=3 ?D;B4 1A>034=8=6
8=CA0<>30; 0=3 8=C4A<>30; 38B?4AB8>= 5>A BC4? 0=3 6A0343 8=34G
5814AB <>30; =>8B4 >E4A 0;; 5814A 38B?4AB8>= 5>A <D;C8<>34 0=3 <>=><>34 5814A 38B?4AB8>= <>385843
5814AB<>30;18A45A8=64=240=3?>;0A8I0C8>=<08=C08=8=65814AB.(
&
/
!1,7
37,&$/ 285&(6 &4@D8A4<4=C 5>A >?C820; B>DA24 >D1;4 4CA>9D=2C8>= 0=3 7><>9D=2C8>= 8=942C8>=
;0B4AB BCAD2CDA4  70A02C4A8BC82B A0F102: 0=3 03E0=C064B >5     BCAD2CDA4B 0=3
270A02C4A8BC82B 37,&$/ '(7(&7256 &4@D8A4<4=C 5>A ?7>C> 34C42C8>=B ?= ?7>C>38>34 270A02C4A8BC82B >5
?7>C>34C42C8>=B?8=0=30E0;0=274?7>C>38>34B
37,&$/ 5$160,77(5,5&8,7B>DA24;0<8=0C8>=B 0=3;0B4A3A8E428A2D8CB>?C820;A4248E4A28A2D8CB5>A
?A40<?;8584A0DC><0C82608=2>=CA>;0=34@D0;8I0C8>=&464=4A0C8E4A4?40C4A>?C820;?>F4A1D364C8=65>A
3868C0;>?C820;5814ABHBC4<.(
&
/
!1,7 = "
8/7,3/(;,1*75$7(*,(6#(!'D120AA84A#!+!#!H1A83<D;C8?;4G8=6
37,&$/ ,%(5 1(7:25. (92/87,21 8ABC 4=4A0C8>= '42>=3 4=4A0C8>= (78A3 4=4A0C8>= #?C820;
=4CF>A: =>34 0=3 BF8C278=6 4;4<4=CB +0E4;4=6C7 38E8B8>= <D;C8?;4G43 =4CF>A:B $D1;82
C4;42><<D=820C8>= =4CF>A: >E4AE84F #?C820; =4CF>A: CA0=B<8BB8>= <>34B ;0H4AB 0=3 ?A>C>2>;B
+0E4;4=6C7A>DC8=6=4CF>A:#?C820;BF8C278=6=4CF>A:B .(
& /

(;7 22.6
.(
/ !'4=8>AL#?C820;814A><<D=820C8>=B$A8=28?;4B$A02C824M A3 43
$40AB>= 43D20C8>=
()(5(1&(22.6
.&
/ 48B4AL#?C820;81A4><<D=820C8>=M!2A0F8;; J =3 38C8>=
.& / >F0AL#?C820;><<D=820C8>='HBC4<M J =3 38C8>=
$3(52'(

$3(5  

$3(5 2%,/(20081,&$7,21 

5(5(48,6,7(

 20081,&$7,216<67(06

,0
2+(/37+(678'(1772'(9(/23$181'(567$1',1*2)7+(02%,/($1':,5(/(661(7:25.

%-(&7,9(6

 7281'(567$1'7+(35272&2/6)2502%,/(&20081,&$7,21

 !   

%D4BC8>= ">
 B7>D;3 14 2><?D;B>AH 0=3 2>E4A C74 4=C8A4 BH;;01DB (78B @D4BC8>= B7>D;3 70E4
>1942C8E4>AB7>AC0=BF4ACH?4@D4BC8>=BCB7>D;314>5 <0A:B
?0AC5A><%D4BC8>=">
A4BC>5C74?0?4AB70;;2>=B8BC>55>DAD=8CB0B?4AC74BH;;01DBE4AHD=8C
B7>D;370E4CF>@D4BC8>=B>F4E4ABCD34=C<0H140B:43C>0CC4<?C>=;H
@D4BC8>=5A><4027D=8C
027@D4BC8>=B7>D;314
<0A:B

!1,7
0B8224;;D;0ABHBC4<?4A5>A<0=242A8C4A80D=8@D4=4BB>5<>18;4A038>4=E8A>=<4=C>?4A0C8>=>524;;D;0ABHBC4<B
?;0==8=6024;;D;0ABHBC4<0=0;>63868C0;24;;D;0ABHBC4<B ;4<4=CB>54;;D;0A&038>'HBC4<B4B86= 4=4A0;
34B2A8?C8>=>5C74?A>1;4<2>=24?C>55A4@D4=2HA4DB4270==4;B2>270==4;8=C4A54A4=24A43D2C8>=502C>A34B8A43
 5A>< 0 =>A<0; 20B4 8= 0= ><=8 38A42C8>=0; 0=C4==0 BHBC4< 24;; B?;8CC8=6 2>=B834A0C8>= >5 C74 2><?>=4=CB >5
24;;D;0A BHBC4<B =CA>3D2C8>= C> 2>270==4; 8=C4A54A4=24 2>270==4; <40BDA4<4=C 34B86= >5 0=C4==0 BHBC4<
0=C4==0?0A0<4C4A0=3C748A45542CB

!1,7
4=4A0;8=CA>3D2C8>=>1C08=8=6C74<>18;4?>8=CC>?>8=C<>34&038>?A>?060C8>=270A02C4A8BC82B<>34;B5>A?0C7
;>BB B703>F8=6 0=3 <D;C8?0C7 5038=6 ?A>?060C8>= >E4A F0C4A >A 5;0C >?4= 0A405>;8064 ;>BB ?A>?060C8>= =40A 8=
38BC0=24 ;>=6 38BC0=24 ?A>?060C8>= ?>8=C C> ?>8=C ?A4382C8>= <>34;270A02C4A8BC82B24;; B8C4 0=C4==0 74867CB 0=3
B86=0; 2>E4A064 24;;B <>18;4 C> <>18;4 ?A>?060C8>=70A02C4A8BC82B >5 0=C4==0B 0=C4==0 0C 24;; B8C4 <>18;4
0=C4==0BA4@D4=2H <0=064<4=C 58G43 270==4; 0BB86=<4=C =>=58G43 270==4; 0BB86=<4=C CA05582  270==4;
0BB86=<4=C+7H70=3>55CH?4B>5 70=3>550=3C748A270A02C4A8BC82B 70=3>550=0;HB8B 3A>??4320;;A0C4B C748A
4E0;D0C8>=

!1,7
!>3D;0C8>= <4C7>3B 8= 24;;D;0A F8A4;4BB BHBC4<B #! ;>2: >38=6 2>=E>;DC8>= 2>38=6 0=3 (DA1> 2>38=6
!(!!!(!4;;D;0ABHBC4<B4;;D;0A!B>5C20?028CH0A;0=620?028CH2><?0A8B>=
>5!(!BHBC4<B0=34;;D;0A!
!1,7"
'!A278C42CDA4!>18;8CH<0=064<4=C"4CF>A:B86=0;8=6A4@D4=2H0;;>20C8>=0=32>=CA>;0B4'HBC4<0=3
!0BC4A 'HBC4< '! '
  *0A8>DB E0;D4 03343 B4AE824B !>18;4 $+8A4;4BB " &>DC8=6 ?A>C>2>;B 5>A
!"(B'*'&#*&>;4>5($8=!"(B

# 

.(
/ +8;;80<, 44L!>18;44;;D;0A(4;42><<D=820C8>=BM =338C8>=!2A0F8;;
 

.( / (74>3>A4'&0??0?>ACL+8A4;4BB><<D=820C8>=$A8=28?;4B0=3$A02C824M =338C8>=$40AB>=3D20C8>=




.&
/L!>18;4><<D=820C8>=0=3>>:BM =338C8>=$A4BB

.& /!8B270'27F0ACIL!>18;4+8A4;4BB><<D=820C8>=BM0<1A8364)=8E4AB8CH$A4BB) 
.& / 0FA4=240AC4L +8A4;4BB4<HBC85843M!2A0F8;;$D1;820C8>=B

.& /0E47$07;0E0=0=3$A0B70=CA8B7=0<DAC7HM$A8=28?;4B>5+8A4;4BB"4CF>A:BM$

!,;0=8-0//0/$D>?080>429

!,;0=:/0%
 %!


!,;0=



!##"&$%$
 # !# $$ #$%#%

%# &% %  !&%#$


)A;@FDA6G57FAF:78G@5F;A@3>4G;>6;@94>A5=EA83@7?476676EKEF7?8AD67H7>AB;@93D73>F;?7EKEF7?
3BB>;53F;A@

%'$
; @FDA6G57FA873FGD7EF:3F4G;>63@7?476676EKEF7?
;; )A:7>BF:7G@67DEF3@6;@9A8F:7;@F7D35F;A@F:3FF:7H3D;AGE5A?BA@7@FEI;F:;@3@7?476676EKEF7?
:3H7I;F:735:AF:7D
;;; )75:@;CG7EA8;@F7D835;@947FI77@BDA57EEADEB7D;B:7D3>67H;57D7>3F76FA7?476676BDA57EE;@9
;H )A7@34>7ID;F;@9A8788;5;7@FBDA9D3?EA@3@K676;53F76BDA57EEAD
H )ABD7E7@F;@>G5;6?3@@7DF:743E;55A@57BFEA8EKEF7?EBDA9D3??;@9>;=7AB7D3F;@9EKEF7?
3EE7?4>7D5A?B>;7DE7F53@6FAG@67DEF3@6F:7?3@397?7@FF3E=@776768AD67H7>AB;@97?476676EKEF7?

*@;F M
@FDA6G5F;A@ FA ?476676 (KEF7?E (B75;3> :3>>7@97E I;F: ?476676 (KEF7?E @FDA6G5F;A@ FA F:7
  3@6 (  ";5DA5A@FDA>>7DE (  3?;>K 6H3@F397E A8 BDA9D3??;@9 ;@ 3EE7?4>K
!3@9G3973@6!!:AAE;@9F:747EF!!3H3;>34>78AD?476676(KEF7?E(FDG5FGD76%DA9D3??;@9
3@67E;9@%DA9D3??;@974G99;@9%DA576GD7E?G>3FADE3@6!A9;53@3>KE7DEDAEE5A?B;>7D

*@;F
D5:;F75FGD7 A8 
(  (KEF7? "A67E A8 $B7D3F;A@E #AD?3> AB7D3F;@9 "A67E   +
"A67EA8$B7D3F;A@'79;EF7D>A5='7>A53F;A@%ADF(KEF7? "7?ADK(KEF7? "7?ADK"3B
"7?ADK'7EAGD57'7?3BB;@9( % "7?ADK(KEF7?J57BF;A@BDA57EE;@9 @F7DDGBF
'7EBA@E7

*@;F
):7);?;@9(KEF7?F:7EF3@63D6F;?7D?A6G>75A?BA@7@FA8F;?7D?A6G>78D77DG@@;@95AG@F7D3@6;FE
3EEA5;3F76D79;EF7D
$5:3@@7>'73>F;?7@F7DDGBFF:7@:3@5763BFGD7);?7D" 
(7D;3> A??G@;53F;A@E   (7D;3> A??G@;53F;A@ @F7D8357 (7D;3> %7D;B:7D3> @F7D8357
@BGF
AGFBGF;@F7D835;@95A@57BFE'(  @F7D8357 ;@F7D835;@9*(@F7D835;@9

*@;F M+
'73>);?7 $B7D3F;@9 (KEF7?E '7H;7I A8 A@57BFE 3E;5 A@57BFE )KB7E A8 ')$( ')$( EEG7E
?B>7?7@F;@9 A8 ')$( ;EFD;4GF76 %DA57EE;@9 (KEF7?E#7FIAD=;@9 I;F: # 7E;9@ BBDA35:7E
#BDAFA5A>):75A@FDA>>7D*@;F8ADF:7 ?E# );?;@9;EEG7

)7JF4AA=
)/ 1?476676(KEF7?E7E;9@3@6BB>;53F;A@EI;F: 3@6( 4K(F7H7@ 3DD7FF
3@63@;7> %35=%73DEA@6G53F;A@ 

'787D7@574AA=

'/ 1?476676(KEF7?7E;9@4K'3< 3?3>)" 


'/ 1?476676";5DA5A?BGF7D(KEF7?E4KA@3F:3@, +3>H3@A7@397!73D@;@9 
'/1'73>);?7(KEF7?4K "  D;E:@3" 
'/1'73>);?7(KEF7?4K!7H;3@693DI3>" 
'/1'73>);?7(KEF7?(B75;8;53F;A@+3>;63F;A@@3>KE;E4K"3F;AE7B:%
'/1'73>);?7(KEF7?4K3@7, ( !;G%73DEA@6G53F;A@ 
' /1    ):7 A67E;9@ A8 ?476676 (KEF7?E  *@;8;76 3D6I3D7 (A8FI3D7'7BD7E7@F3F;A@ >GI7D
5367?;5%G4>;E:7D
'/1@FDA6G5F;A@FA'73>F;?7EA8FI3D767E;9@4K( >>IADF:(BD;@7D+7D>39 
!,;0=:/0
%
!,;0= 


 


!,;0= $,?0774?0:88@94.,?4:9

!=0=0<@4>4?0> 
 :88@94.,?4:9$D>?08>

48 
%:>?@/D,-:@?>,?0774?0.:88@94.,?4:9:=-4?,780.3,94.>>,?0774?08:/@7,?4:9,9/,..0>>?0.394<@0>

-50.?4A0 
 %30.:@=>0B4778,60>?@/09?>@9/0=>?,9/:=-4?,780.3,94.;7,.0809?:1>,??0774?0?304=?D;0>
 %30>?@/09?>B477-0,-70?:>:7A07496/0>429;=:-708>,9/70,=9,.00>>?0.394<@0>,9/.:/492


&94?

9?=:/@.?4:9
$D;9;@3@64D;78:;EFADKA8E3F7>>;F75A??G@;53F;A@E3@AH7DH;7IA8E3F7>>;F7EKEF7?7@9;@77D;@9E3F7>>;F78D7CG7@5K
43@6E8AD5A??G@;53F;A@
$D4;F3>F:7ADK
$D4;F3> ?75:3@;5E >A53F;@9 F:7 E3F7>>;F7 ;@ F:7 AD4;F I D F  73DF: >AA= 3@9>7 67F7D?;@3F;A@  L;?GF:  7>7H3F;A@
53>5G>3F;A@E /) 1

&94?
$;,.0.=,1?>D>?08>
FF;FG67 3@6 AD4;F 5A@FDA> EKEF7? F7>7?7FDK FD35=;@9 3@6 5A??3@6 )) 5A??G@;53F;A@E EG4EKEF7?E
FD3@EBA@67DEEB3575D38F3@F7@@3E
(3F7>>;F7>;@=67E;9@
3E;5FD3@E?;EE;A@F:7ADK@A;E78;9GD73@6@A;E7F7?B7D3FGD7
#D3F;AE3F7>>;F76AI@>;@=67E;9@E3F7>>;F7GB>;@=
67E;9@ /) ) 1

&94?
:/@7,?4:9@7?4;70C492@7?4;70,..0>>%0.394<@0>
@3>A9F7>7B:A@7FD3@E?;EE;A@?F:7ADK"7F75FADF:7ADK3@3>A9)+FD3@E?;EE;A@(
#D3F;A3>5G>3F;A@8AD
E3F7>>;F7 )+ >;@=;@9 ;9;F3>  FD3@E?;EE;A@ 43E7 43@6 3@6 43@6 B3EE FD3@E?;EE;A@ A8 6;9;F3> 63F3 %(  &%(  
")"
557EEF75:@;CG7E")"" /) ' 1

&94?
9.:/4921:=424?,7>,?0774?07496>
:3@@7>53B35;FK7DDAD67F75F;A@5A6;@9>;@73D4>A5=4;@3DK5K5>;55A67E3@65A@HA>GF;A@5A67E
(3F7>>;F7(KEF7?E
(3F7>>;F73DF:EF3F;A@)75:@A>A9KE3F7>>;F7?A4;>75A??G@;53F;A@+()F75:@A>A9K;D75FDA3653EF4KE3F7>>;F7
( /) ) 1
%0C? ::6>
%
);?AF:K%D3FF:3D>7E, AEF;3@O(3F7>>;F75A??G@;53F;A@PA:@,;>7KEA@E
%G4>;53F;A@ 
%   (B;>=7DO;9;F3>A??G@;53F;A@4KE3F7>>;F7%%G4>;53F;A@ 

#010=09.0-::6>
#
 "3DF;@OA??G@;53F;A@E3F7>>;F7EKEF7?EP%BG4>;53F;A@
!,;0=:/0   % 
!,;0= 

  


!,;0=0,>@=0809?9>?=@809?,?4:9

!=0=0<@4>4?0

#7FIAD=@3>KE;E

48
%:>?@/D.:9>?=@.?4:9,9/B:=6492:1/4110=09??D;0>:149>?=@809?>,9/?304=,;;74.,?4:9

-50.?4A0
 %:70,=9,-:@??30-,>4.>:149>?=@809?,?4:9?D;0>:149>?=@809?:9?30-,>4>:1?304=.:9>?=@4.?4:9
 %:>?@/D
0,>@=0809?:1;:B0=090=2DD9,8:80?0=(,??80?0=0?.
0,>@=0809?:1=0>4>?,9.0@>492/4110=09??D;0>-=4/20>
0,>@=0809?:1;=0>>@=0%:=<@092@7,=A07:.4?D0?.@>492A,=4:@>49>?=@809?>

&94?
"73EGD;@9 @EFDG?7@FE >3EE;8;53F;A@ M 678>75F;@9 5A@FDA> 3@6 63?B;@9 FADCG7E M ??7F7DE 3@6 +A>F?7F7DE M
%"" ?AH;@9 ;DA@ FKB7 ;@EFDG?7@FE M 7JBD7EE;A@ 8AD F:7 678>75F;@9 FADCG7 3@6 5A@FDA> FADCG7 M DDADE 3@6
5A?B7@E3F;A@E7JF7@E;A@A8D3@97GE;@9E:G@FE3@6E7D;7ED7E;EF3@57 >75FDAEF3F;5+A>F?7F7DE7>75FDA?7F7DFKB73@6
3FFD35F766;E5FKB7 MJF7@E;A@A8D3@97A8 ( +A>F?7F7DE /) ) 1

&94?
@EFDG?7@FFD3@E8AD?7DE M)3@6%) M'3F;A3@6B:3E73@9>77DDADE M67E;9@5A@E;67D3F;A@E M)7EF;@9A8)NE M
(;>E477NE?7F:A6 M+3D;34>7?GFG3>;@6G5F3@57?7F:A6E
"73EGD7?7@F A8 %AI7D (;@9>7 B:3E7 6K@3?A?7F7D I3FF?7F7D !% 3@6 *% AG4>7 7>7?7@F 3@6 F:D77 7>7?7@F
6K@3?A?7F7D I3FF?7F7D 7JBD7EE;A@ 8AD 678>75F;@9 3@6 5A@FDA> FADCG7E M JF7@E;A@ A8 D3@97 A8 I3FF?7F7D GE;@9
;@EFDG?7@FFD3@E8AD?7DE
"73EGD7?7@F A8 @7D9K E;@9>7 B:3E7 ;@6G5F;A@ FKB7 7@7D9K ?7F7D M 6D;H;@9 3@6 4D3=;@9 FADCG7E M 7DDADE 3@6
5A?B7@E3F;A@E M F7EF;@9 4K B:3@FA? >A36;@9 GE;@9 ' ( (  ?7F7D  ):D77 B:3E7 7@7D9K ?7F7D M FD;H75FAD ?7F7D
?3J;?G?67?3@6?7F7DE /) ' 1

&94?
)KB7A8%  "7F7DE M6K@3?A?7F7D3@6?AH;@9;DA@FKB7 M B:3@6B:?7F7DE MD7CG7@5K?7F7DE MD7EA@3@57
FKB73@6,7EFA@FKB7 MEK@5:ADAE5AB7E
%D;@5;B>73@6AB7D3F;A@A8  DA?BFA@EBAF7@F;A?7F7D MEF3@63D6;L3F;A@ M"73EGD7?7@FA8G@=@AI@D7E;EF3@57
5GDD7@FHA>F397
  %AF7@F;A?7F7DE%A>3D3@65AAD6;@3F7FKB7EEF3@63D6;L3F;A@ M3BB>;53F;A@ /) ' 1

&94?'
"7F:A6A8?73EGD;@9>AI?76;G?3@6:;9:D7E;EF3@57 ME7@E;F;H;FKA8,:73FEFA@7E4D;697 M3D7KAEF7DNE4D;697
7>H;@NE 6AG4>7 4D;697 8AD ?73EGD;@9 >AI D7E;EF3@57 ?73EGD7?7@F A8 :;9: D7E;EF3@57 >AEE A8 5:3D97 ?7F:A6 M
%D;57NE9G3D6?7F:A6 M"7997D
  4D;697E M"73EGD7?7@FA8;@6G5F3@57"3JI7>>NE4D;6973KNE4D;697@367DEA@NE4D;697AI7@NE4D;697 M
73H;E;674D;6973@6;FE ?A6;8;53F;A@E "73EGD7?7@FA853B35;F3@577CG;H3>7@F5;D5G;FA83@;?B7D875F53B35;FAD M
7E3GFK4D;697 ,;7@NE4D;697 M(5:7D;@9D;697
"73EGD7?7@F A8 EFD3;@ M3G97 E7@E;F;H;FKF7?B7D3FGD7 5A?B7@E3F;A@>A36 57>>"73EGD7?7@F BD7EEGD7 GE;@9
7>75FD;53> FD3@E6G57DE 3E (75A@63DK FD3@E6G57DEH35GG? 93G97E)ADCG7 ?73EGD7?7@F@9G>3D H7>A5;FK GE;@9
)35:A?7F7DE3@6;9;F3>?7F:A6E!+)FKB73557>7DA?7F7D>AI?73EGD7?7@FGE;@97>75FDA?39@7F;5?7F:A6:AF
I;D73@7?A?7F7D3@6G>FD3EA@;5FKB7E M3B35;F3@57?7F:A68AD>;CG;6>7H7>?73EGD7?7@F /) '1

%0C?::6>
%
 , >A6;@93@6  ,;66;E >75FD;53>"73EGD7?7@FE3@6?73EGD;@9@EFDG?7@FE,:77>7D
%G4>;E:;@98;8F:6;F;A@
%   (:3I@7K >75FD;53>>75FDA@;5"73EGD7?7@F@EFDG?7@FE:3@B3F'3;(A@E%G4>;53F;A@E

#010=09.0::6>
#
G5=;@9:3?3@6%D;57 >75FD;53>"73EGD7?7@FE%D7@F;57 M3>>
# 3DD;E >75FD;53>"73EGD7?7@FE
# '7;EE>3@6" * >75FD;53>"73EGD7?7@FEG@63?7@F3>EA@57BFEBB>;53F;A@E#7I397@F7D@3F;A@3>
%!;?;F76%G4>;E:7DE
# ,  AAB7DO"A67D@>75FDA@;5E@EFDG?7@F3F;A@"73EGD7?7@F)75:@;CG7P% 

%3B7DA67 !)
%3B7D    

%3B7D 0A5G?7@FE3@6(7FF;@9E0835G>FK0!A53>(7FF;@9E0)7?B0EK>>34GE2) :F? )$%)$%


0@=,70?B:=6>,9/,;;74.,?4:9>
%D7D7CG;E;F7E
 "3F:7?3F;5E

;?)AG@67DEF3@6F:743E;5?3F:7?3F;53>?A67>;@9A8F:7G?3@4D3;@3@6H3D;AGE>73D@;@9
3>9AD;F:?E

$4<75F;H7E
; )AG@67DEF3@6F:76;887D7@F?A67>EA83DF;8;5;3>@7GDA@E3@6@7GD3>@7FIAD=E
;; )AEFG6KH3D;AGEEGB7DH;E76G@EGB7DH;E763@6K4D;6>73D@;@93>9AD;F:?E
;;; )A7JB>AD76;887D7@F3BB>;53F;A@3D73EA8DF;8;5;3>#7GD3>#7FIAD=E

$%#&% $% !!#$%%#$ ,C48@8,=6>


&G7EF;A@#A  E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE ):;ECG7EF;A@E:AG>6:3H7A4<75F;H7ADE:ADF3@EI7DFKB7CG7EF;A@E FE:AG>647A8
?3D=E
B3DF8DA?&G7EF;A@#A  D7EFA8F:7B3B7DE:3>>5A@E;EFA88AGDG@;FE3EB7DF:7EK>>34GE H7DKG@;FE:AG>6:3H7FIACG7EF;A@E AI7H7DEFG67@F?3K
473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F 35:CG7EF;A@E:AG>647 ?3D=E

*@;FM@FDA6G5F;A@ FA #7GD3> #7FIAD=E


@FDA6G5F;A@G?3@E3@6A?BGF7DE$D93@;L3F;A@A8F:7D3;@;A>A9;53>#7GDA@;A>A9;53>
3@6DF;8;5;3>#7GDA@"A67>EDF;8;5;3>#7GDA@"A67>$B7D3F;A@EA8DF;8;5;3>#7GDA@)KB7E
A8 #7GDA@ 5F;H3F;A@ G@5F;A@ ## D5:;F75FGD7E !73D@;@9 (FD3F79K (GB7DH;E76
*@EGB7DH;E76 '7;@8AD57?7@F !73D@;@9 'G>7E

*@;FM776 ADI3D6 #7GD3> #7FIAD=E


@FDA6G5F;A@ %7D57BFDA@E  !;?;F3F;A@E A8 F:7 %7D57BFDA@ "A67>  "G>F;>3K7D 776 8ADI3D6
#7GD3>#7FIAD=E35=BDAB393F;A@%>73D@;@9DG>7*@;H7DE3>BBDAJ;?3F;A@F:7AD7?

*#) *@EGB7DH;E76 3@6 K4D;6 !73D@;@9 3BBDA35:7E


%D;@5;B3> A?BA@7@F @3>KE;E % A?B7F;F;H7 !73D@;@9 (7>8$D93@;L;@9 73FGD7 "3BE
($"')@7FIAD=E'

*#) + #7GD3> #7FIAD= 3BB>;53F;A@E  >;@6 EAGD57 (7B3D3F;A@ EEA5;3F;H7 ?7?AD;7E
(B775:E;9@3>%DA57EE;@9?397%DA577E;@9

%0C?::6
3K=;@ (  O#7GD3> #7FIAD=E A?BD7:7@E;H7 AG@63F;A@EP %D7@F;573>>
@F7D@3F;A@3> #7I7DE7K 
#010=09.0>
@67DEA@  O@@FDA6G5F;A@FA#7GD3>#7FIAD=EP% 
7DFL DA9:'  %3>?7DO@FDA6G5F;A@FAF:7):7ADKA8#7GD3>A?BGF3F;A@P
 66;EA@,7E>7K 3>;8AD@;3 
 7DFL  DA9:  '   %3>?7D O@FDA6G5F;A@ FA F:7 ):7ADK A8 #7GD3> A?BGF3F;A@P
66;EA@,7E>7K 3>;8AD@;3 
 D77?3@     "  (=3BGD3 O#7GD3> #7FIAD=E >9AD;F:?E BB>;53F;A@E 3@6
%DA9D3??;@9)75:@;CG7EP66;EA@,7E>7K '736;@9"3EE  
!,;0= :/0
 %! 
!,;0=


!,;0= $:1?B,=0924900=492

!=0=0<@4>4?0>
 3E;5=@AI>7697A85A?BGF7DE3@63F>73EFA@7BDA9D3??;@9>3@9G397
48
 #70-48;<=,-6<;<7/)16 ;3144;<0)<?144-6)*4-<0-5<7,->-478;7.<?):-7.01/09=)41<@ B;7.<?):-<0)<1;
:-41)*4-)6,<0)<1;:-);76)*4@-);@<7=6,-:;<)6,57,1.@)6,5)16<)16 )6,<7.7;<-:)6=6,-:;<)6,16/7.?0@
<0-;-;3144;):-1587:<)6<
$&#
 #7=6,-:;<)6,<0->):17=;80);-;7."7.<?):-->-4785-6<1.-@+4-

  
    ' %  "#

 =-;<1767;07=4,*-+758=4;7:@)6,+7>-:<0--6<1:-;@44)*=;#01;9=-;<176;07=4,
0)>-7*2-+<1>-7:;07:<)6;?-:<@8-9=-;<176;<;07=4,*-7.5):3;
 8):< .:75 =-;<176 7  :-;< 7. <0- 8)8-: ;0)44 +76;1;< 7. .7=: =61<; ); 8-: <0-
;@44)*=; >-:@ =61< ;07=4, 0)>- <?7 9=-;<176; 7?->-: ;<=,-6< 5)@ *- );3-, <7
)<<-58<764@9=-;<176.:75-)+0=61<)+09=-;<176;07=4,*-5):3;

  (
6<:7,=+<176
"7.<?):-:1;1;"7.<?):-:7+-;;-;"7.<?):-41.-+@+4-57,-4;%)<-:.)44:7<7<@8-
>74=<176):@)6,"81:)457,-4;>-:>1-?7. =)41<@"<)6,):,;413-""

"7.<?):--<:1+;"1A--<:1+;413-#73-67=6<=6+<1767=6<-;1/6-<:1+;)<)
"<:=+<=:--<:1+;6.7:5)<17647?-<:1+;
  (
"7.<?):- :72-+<4)6616/
7;<-;<15)<176;<)<1+"16/4-)6,5=4<1>):1)<-57,-4;57,-4=<6)5!-;7=:+-
447+)<1767,-4!1;35)6)/-5-6<
"7.<?):-!-9=1:-5-6<6)4@;1;)6,"8-+1.1+)<176;
:7*4-56)4@;1;)<)47?1)/:)5;)<)1+<176):1-;6<1<@!-4)<176;018,1)/:)5;
"7.<?):-!-9=1:-5-6<)6,"8-+1.1+)<176;-0)>17=:)4)6,676*-0)>17=:)4:-9=1:-5-6<;
"7.<?):-:7<7<@816/
  (
"7.<?):--;1/6
70-;1767=8416/4);;1.1+)<1767.70-;1>-6-;;7=8416/=6+<176:1-6<-,-;1/6
*2-+<:1-6<-,-;1/6$;-:6<-:.)+--;1/6
"7.<?):-!-41)*141<@)14=:-)6,)=4<;!-41)*141<@7,-4;);1+7,-47/):1<051+71;;76
7,-4)4-6,-:<15-75876-6<!-41)*141<@447+)<176
  (
"7.<?):-#-;<16/"7.<?):-8:7+-;;=6+<176)4<-;<16/7=6,):@>)4=-)6)4@;1;9=1>)4-6+-
+4);;<-;<16/-+1;176<)*4-<-;<16/)=;--..-+</:)8016/"<:=+<=:)4<-;<16/)<0<-;<16/)<)
.47?)6,5=<)<176<-;<16/=61<<-;<16/16<-/:)<176)6,;@;<-5<-;<16/-*=//16/#-;<16/#774;
"<)6,):,;
"7.<?):-)16<-6)6+-
)6)/-5-6<7.)16<-6)6+-)16<-6)6+-:7+-;;)16<-6)6+-7,-4;!->-:;-6/16--:16/
"7.<?):-!--6/16--:16/76.1/=:)<176)6)/-5-6<7+=5-6<)<176
'$
'#(!":-;;5)6D"7.<?):-6/16--:16/ B8:)+<1<176-:C;)88:7)+0E :,-,+:)?
1446<
,
'#(//):?)4&7/-;0"16/0D"7.<?):-6/16--:16/E-?/-6<-:6)<176)4
"!
'!(!)1:4-@D"7.<?):-6/16--:16/76+-8<;E#)<)+:)?144 
'!()47<-D66<-/:)<-,)88:7)+0<7"7.<?):-6/16--:16/E):7;)
'! ("<-80-6!"+0)+0D4);;1+)4*2-+<:1-6<-,"7.<?):-6/16--:16/E!% 
'!
()5-;-<-:%-,:@+AD"7.<?):-6/16--:16/E706%14-@"76;
'! ("755-:>144-D"7.<?):-6/16--:16/E,,1;76%-;4-@
!,;0=:/0
  % 
!,;0= 


 


!,;0=#074,-474?D924900=492
!=0=0<@4>4?0>
 (FA5:3EF;5(KEF7?E%DA57EE7E
48
%:>?@/D?30.:9.0;?:1=074,-474?D8,49?,94-474?D:1/4110=09??D;0>:1>D>?08>,9/70,=9A,=4:@>?0.394<@0>
:1=074,-474?D,9,7D>4>
-50.?4A0
 %30 >?@/09? B477 ,-70 ?: ,9,7D>0 A,=4:@> ?D;0> :1 >D>?08> 1:= =074,-474?D07?, >?,= 80?3:/,D0>
?30:=0880?3:/0?.
 %30 >?@/09? B477 70,=9 ,-:@? =0/@9/,9.D ?0.394<@0> 1:= =074,-474?D :;?484E,?4:9 ?30 .:9.0;? :1
8,49?09,9.0 
&%
'7>;34;>;FKG@63?7@F3>E@FDA6G5F;A@#7768AD'7>;34;>;FK@9;@77D;@978;@;F;A@3GE7EA83;>GD7E
3F3EFDAB:;53;>GD7E3@679D363F;A@3;>GD7E:3D35F7D;EF;5)KB7EA83;>GD7E*E78G>!;87A8A?BA@7@FE):7
JBA@7@F;3>3E7A8:3@573;>GD7E'7>;34;>;FK"73EGD7E3;>GD73F3@3>KE;E
'7>;34;>;FK"3F:7?3F;5EG@63?7@F3>EA8(7F):7ADK%DA434;>;FK):7ADK'3@6A?+3D;34>7E;E5D7F7;EFD;4GF7E
A@F;@GAGE;EFD;4GF;A@E(FA5:3EF;5%DA57EE7E"3D=AH:3;@E /) ' 1

&%
'7>;34;>;FK @3>KE;EA8(7D;7E%3D3>>7>(KEF7?E@FDA6G5F;A@'7>;34;>;FK>A5=;39D3?E(7D;7E(KEF7?E%3D3>>7>
(KEF7?E(7D;7E%3D3>>7>(KEF7?E AGFA8"(KEF7?E$B7@3@6(:ADF;D5G;F3;>GD7E(F3@64K(KEF7?E

'7>;34;>;FK @3>KE;E #A@E7D;7E %3D3>>7> (KEF7?E @FDA6G5F;A@ %3F: 7F7D?;@3F;A@ AA>73@ >974D3 "7F:A6E 
%3DF;5G>3D "7F:A6 GF (7F BBDA35: 7>F3(F3D "7F:A6 !A9;53> (;9@3> '7>3F;A@E "7F:A6 3K7NE ):7AD7?
"7F:A6 /) ) ' 1

&%
'7>;34;>;FK %D76;5F;A@ @FDA6G5F;A@ %GDBAE7 >3EE;8;53F;A@ @8AD?3F;A@ (AGD57E 8AD 3;>GD7 '3F7 3F3 7@7D3>
'7CG;D7?7@FE %D76;5F;A@ "7F:A6A>A9;7E (A8FI3D7 %D76;5F;A@ %35=397E 'A>7 3@6 !;?;F3F;A@ A8 '7>;34;>;FK
%D76;5F;A@

'7>;34;>;FK >>A53F;A@ @FDA6G5F;A@ (G4EKEF7?E '7>;34;>;FK ?BDAH7?7@F BBADF;A@?7@F 8AD #7I *@;FE
D;F;53>;FK /) ) 1

&%'

'76G@63@5K )75:@;CG7E 8AD '7>;34;>;FK $BF;?;L3F;A@ @FDA6G5F;A@ (;9@3> '76G@63@5K );?7 '76G@63@5K
(A8FI3D7'76G@63@5K3D6I3D7'76G@63@5K

"3;@F3;@34;>;FK3@6H3;>34;>;FK@FDA6G5F;A@AD?EA8"3;@F7@3@57"73EGD7EA8"3;@F3;@34;>;FK3@6H3;>34;>;FK
"3;@F3;@34;>;FK G@5F;A@ H3;>34;>;FK G@5F;A@ )IA *@;F %3D3>>7> (KEF7? I;F: '7B3;D %D7H7@F;H7 "3;@F7@3@57
%DAH;E;A@;@9A8(B3D7E

'7>;34;>;FK )7EF;@9 @FDA6G5F;A@ ;@6E A8 )7EF;@9 A?BA@7@F '7>;34;>;FK "73EGD7?7@FE %3D3?7FD;5 "7F:A6E
A@8;67@57!;?;FE557>7D3F76)7EF;@9CG;B?7@F557BF3@57)7EF;@9'7>;34;>;FKDAIF:)7EF;@9 /) ' 1
%0C?::6>

%
'7>;34;>;FKH3>G3F;A@A8@99 (KEF7? M' ;>>;@FA@' # >>3@%>7@G?%D7EE
% '7>;34;>;FKH3>G3F;A@A8%AI7D(KEF7? M' ;>>;@FA@' # >>3@%>7@G?%D7EE

#010=09.0::6>
#
@@FDA6G5F;A@FA'7>;34;>;FK3@6"3;@F3;@34;>;FK@9;@77D;@9 (:3D>7E 47>;@9)3F3"5D3I;>>76;F;A@
!,;0=:/0 
 ! ) 
!,;0=


  

!,;0= #,/,=,9/,A42,?4:9924900=492

!=0=0<@4>4?0>
 A??G@;53F;A@(KEF7?E
 A??G@;53F;A@(KEF7?E
 (FA5:3EF;5EKEF7?E3@6BDA57EE7E

48
%:>?@/D,-:@?A,=4:@>?D;0>:1=,/,=>?304=,;;74.,?4:9>,9//4110=09?9,A42,?4:9>D>?08>

-50.?4A0
 %30>?@/09?>B477-01,8474,=4>0/B4?3?30.:9.0;?:1#,/,==,/,=8,?308,?4.>,9/4?F>?D;0>
 4110=09?9,A42,?4:9>D>?08>?304=,9?099,>D>?08>,9/,;;74.,?4:9>
$%#&% $% !!#$%%#$ ,C48@8,=6>
&G7EF;A@#A  E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE ):;ECG7EF;A@E:AG>6:3H7A4<75F;H7AD
E:ADF3@EI7DFKB7CG7EF;A@E FE:AG>647A8 ?3D=E
B3DF 8DA? &G7EF;A@ #A   D7EF A8 F:7 B3B7D E:3>> 5A@E;EF A8 8AGD G@;FE 3E B7D F:7 EK>>34GE  H7DK G@;F
E:AG>6:3H7FIACG7EF;A@E AI7H7DEFG67@F?3K473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F 35:
CG7EF;A@E:AG>647 ?3D=E

&%
9?=:/@.?4:9?:#,/,=
3E;5'363D M):7E;?B>78AD?A8F:7'363DCG3F;A@'363D>A5=;39D3?'363DD7CG7@5;7E MBB>;53F;A@EA8
'363D M):7$D;9;@EA8'363D

%30#,/,=<@,?4:9
@FDA6G5F;A@7F75F;A@A8(;9@3>E;@#A;E7'757;H7D#A;E73@6F:7(;9@3>FA#A;E7'3F;A%DA434;>;FK7@E;FK
G@5F;A@E%DA434;>;F;7EA87F75F;A@3@63>E7>3D?@F79D3F;A@A8'363D%G>E7E'363DDAEE(75F;A@A8)3D97FE
'363D5DAEE(75F;A@>G5FG3F;A@E)D3@E?;FF7D%AI7D%G>E7'7B7F;F;A@D7CG7@5K@F7@@3%3D3?7F7DE(KEF7?
>AEE7E M$F:7D'363DCG3F;A@A@E;67D3F;A@E
%,9/!@7>0:;;70=#,/,=
@FDA6G5F;A@FAABB>7D3@6")'363D7>3K M!;@73@57>7DE(F3997D76%G>E7'7B7F;F;A@D7CG7@5;7E MABB>7D
;>F7D3@=E  ;9;F3>")%DA57EE;@9 "AH;@9)3D97F7F75FAD !;?;F3F;A@EFA")%7D8AD?3@57 ")8DA?3
"AH;@9%>3F8AD?") %G>E7 ABB>7D'363D M$F:7DABB>7D'363D)AB;5E)D35=;@9I;F:'363D M"A@ABG>E7
)D35=;@9 MA@;53>(53@3@6(7CG7@F;3>!A4;@9 !;?;F3F;A@EFA)D35=;@955GD35K !AI@9>7)D35=;@9 
)D35=;@9;@'3@97 $F:7D)D35=;@9'363D)AB;5E A?B3D;EA@A8)D35=7DE GFA?3F;5)D35=;@9I;F:(GDH7;>>3@57
'363DE)

&%
7F75F;A@A8(;9@3>E;@#A;E7 M@FDA6G5F;A@ M"3F5:76 M;>F7D'757;H7D M7F75F;A@D;F7D;3 M7F75FADE MGFA?3F;5
7F75FAD @F79D3FADE A@EF3@F3>E7>3D?'3F7'757;H7DE ):7'363DAB7D3FAD (;9@3>"3@397?7@F 
%DAB393F;A@'363D,3H7E F?AEB:7D;5'78D35F;A@ (F3@63D6BDAB393F;A@ #A@EF3@63D6%DAB393F;A@ ):7'363D
@F7@@3 '78>75FAD@F7@@3E >75FDA@;53>>K(F77D76%:3E76DD3K@F7@@3E %:3E7(:;8F7DE D7CG7@5K(53@
DD3KE
'363D)D3@E?;FF7DE@FDA6G5F;A@ M!;@73D73?%AI7D)G47E (A>;6(F3F7'%AI7D(AGD57E "39@7FDA@ 
DAEE76;7>6 ?B>;8;7DE $F:7D'%AI7D(AGD57E $F:7D3EB75FEA8'363D)D3@E?;FF7D
'363D'757;H7DE ):7'363D'757;H7D '757;H7D@A;E7;9GD7 (GB7D:7F7DA6K@7'757;H7D GB>7J7DE3@6
'757;H7D%DAF75FADE'363D;EB>3KE

&%
9?=:/@.?4:9  :@=80?3:/>:1,A42,?4:9
'36;A;D75F;A@;@6;@9 ):7!AAB@F7@@3 !AAB@BGF;D5G;FE @GD3>#G>>;D75F;A@;@67D ):7
A@;A?7F7D DDADE;@;D75F;A@ ;@6;@9 65A5=;D75F;A@;@67DE ;D75F;A@;@6;@93F+7DK;9:D7CG7@5;7E
GFA?3F;5;D75F;A@;@67DE ):7A??GF3F767D;3>;D75F;A@;@67D '3@973@655GD35KA8;D75F;A@
;@67DE
'36;A'3@97E ):7!
"AGD5AGDE7'36;A'3@97 +$?@;;D75F;A@3>'3@97+$' +$''757;H;@9
CG;B?7@F '3@973@655GD35KA8+$' '757@F7H7>AB?7@FE
KB7D4A>;5(KEF7?EA8#3H;93F;A@!AD3@3@67553 !AD3@ !AD3@CG;B?7@F '3@973@6BD75;E;A@A8
(F3@63D6!AD3@ !AD3@ ):77553#3H;93F;A@(KEF7? 7553'757;H7DE '3@973@655GD35KA87553 ):7
$?793(KEF7?

&%'
"3@6)# ;EF3@57"73EGD;@9CG;B?7@F $B7D3F;A@A8" )# )#CG;B?7@F
;6EFABBDA35:3@6!3@6;@9 @EFDG?7@F!3@6;@9(KEF7? DAG@6A@FDA>>76BBDA35:(KEF7? ";5DAI3H7
!3@6;@9(KEF7?"!(
ABB>7D#3H;93F;A@ ):7ABB>7D8875F 73?A@8;9GD3F;A@E ABB>7DD7CG7@5KCG3F;A@E )D35=
(F34;>;L3F;A@ ABB>7D(B75FDG? A?BA@7@FEA8F:7ABB>7D#3H;93F;A@(KEF7? ABB>7DD3@97CG3F;A@ 
55GD35KA8ABB>7D#3H;93F;A@(KEF7?E
@7DF;3>#3H;93F;A@ %D;@5;B>7EA8$B7D3F;A@ #3H;93F;A@$H7DF:73DF: A?BA@7@FEA83@@7DF;3>#3H;93F;A@
(KEF7? 3DF:AAD6;@3F7"75:3@;L3F;A@ (FD3BB76AI@(KEF7?E 55GD35KA8@7DF;3>#3H;93F;A@(KEF7?E
(3F7>>;F7#3H;93F;A@(KEF7? ):7)D3@E;F(KEF7? #3HEF3D>A43>%AE;F;A@;@9(KEF7?%(

)-)$$
%
"7DD;>> (=A>@;=@FDA6G5F;A@FA'363D(KEF7?E)3F3"5D3I;>>D66;F;A@ 

''#(
' %7KFA@. %774>7E'363D%D;@5;B>7EA:@I;>7K 
'  )AA?3K%D;@5;B>7EA8'363D @66;F;A@ M% 
!,;0=:/0
!)
!,;0= # %'$ #  

!##"$%$

  &% $)$%


  &% $)$%


)7>7H;E;A@)75:@A>A9K:3E@AI475A?73H;F3>FAA>FAF:7;@8AD?3F;A@D7HA>GF;A@F:3F;EEI77B;@935DAEEF:7
5AG@FD;7EA8F:7IAD>6 ):7EK>>34GE3;?E3F35A?BD7:7@E;H75AH7D397A8)7>7H;E;A@(KEF7?EI;F:3>>F:7@7I
67H7>AB?7@FE;@)7>7H;E;A@@9;@77D;@9

%'$
R)AEFG6KF:73@3>KE;E3@6EK@F:7E;EA8)+%;5FGD7EA?BAE;F7+;67A(;9@3>'757;H7D%;5FGD7)G47E3@6
)7>7H;E;A@3?7D3)G47E
R)AEFG6KF:7BD;@5;B>7EA8"A@A5:DA?7)7>7H;E;A@)D3@E?;FF7D3@6'757;H7DEKEF7?E
R)AEFG6KF:7H3D;AGEA>AD )7>7H;E;A@EKEF7?EI;F:39D73F7D7?B:3E;EA@%!EKEF7?
R)AEFG6KF:736H3@576FAB;5E;@)7>7H;E;A@EKEF7?E3@6+;67A@9;@77D;@9

$%#&% $% !!#$%%#$ ,C48@8,=6>


&G7EF;A@#A  E:AG>6475A?BG>EADK3@65AH7DF:77@F;D7EK>>34GE ):;ECG7EF;A@E:AG>6:3H7A4<75F;H7AD
E:ADF3@EI7DFKB7CG7EF;A@E FE:AG>647A8 ?3D=E
B3DF 8DA? &G7EF;A@ #A   D7EF A8 F:7 B3B7D E:3>> 5A@E;EF A8 8AGD G@;FE 3E B7D F:7 EK>>34GE  H7DK G@;F
E:AG>6:3H7FIACG7EF;A@E AI7H7DEFG67@F?3K473E=76FA3FF7?BFA@>K CG7EF;A@8DA?735:G@;F 35:
CG7EF;A@E:AG>647 ?3D=E

&%&%$ %'$ *


:@=>+
7A?7FDK8AD?3@6EB75F'3F;A ?397A@F;@G;FK #G?47DA8E53@@;@9>;@7E @F7D>3576E53@@;@9 %;5FGD7
D7EA>GF;A@ 3?7D3FG47E?397ADF:;5A@ H;6;5A@B>G?4;5A@E;>;5A@6;A673DD3KH;6;5A@EA>;6EF3F7;?397
E53@@7DE?A@A5:DA?7B;5FGD7FG47E5A?BAE;F7H;67AE;9@3>H;67AE;9@3>6;?7@E;A@:AD;LA@F3>EK@5
A?BAE;F;A@H7DF;53>EK@5 7F3;>E M8G@5F;A@EA8H7DF;53>BG>E7FD3;@ ME53@@;@9E7CG7@5767F3;>E %;5FGD7E;9@3>
FD3@E?;EE;A@ MBAE;F;H73@6@793F;H7?A6G>3F;A@ M+(FD3@E?;EE;A@EAG@6E;9@3>FD3@E?;EE;A@ MEF3@63D65:3@@7>
43@6I;6F: 3E;5 " 3@6 " FD3@E?;FF7D3@6D757;H7D4>A5=E(GB7D:7F7DA6K@7F75:@;CG7EEF7D7A " 3@6
 " FD3@E?;EE;A@ A??G@;53F;A@D757;H7DE4>A5=E

&%  # %'$ *


:@=>+
)+FD3@E?;FF7D M )+E;9@3> BDAB393F;A@ M@F7D87D7@57 M )+FD3@E?;EE;A@@F7@@3E M"A@A5:DA?7)+D757;H7D M
'FG@7D M*+FG@7D;9;F3>FG@;@9F75:@;CG7E)EG4EKEF7?E  M#A;E753@57>>3F;A@+;67A3@6
EAG@6;@F7D53DD;7D67F75F;A@H;E;A@EG4EKEF7?H;67A3?B>;8;7DED7CG;D7?7@FE3@65A@8;9GD3F;A@E D7
;@E7DF;A@ +;67A3?B>;8;7D5;D5G;FE(K@5E7B3D3F;A@ MFKB;53>EK@5BDA57EE;@95;D5G;FE78>75F;A@5GDD7@FI3H78AD?
M78>75F;A@$E5;>>3FADE MD3?7678>75F;A@5;D5G;FE MD7CG;D7?7@FE!;@778>75F;A@5;D5G;FE M)97@7D3F;A@ M
'757;H7D@F7@@3E

&%  &#%'$ *


3:@=>+

A?B3F;4;>;FK M5A>AGDB7D57BF;A@):D775A>AGDF:7ADK>G?;@3@57:G73@6E3FGD3F;A@5A>AGDF7>7H;E;A@53?7D3E
H3>G7EA8>G?;@3@573@65A>AGD6;887D7@57E;9@3>E5A>AGDF7>7H;E;A@6;EB>3KFG47E67>F3 M9G@BD75;E;A@ M;@>;@7
3@6)D;@;FDA@5A>AGDB;5FGD7FG47EBGD;FK3@65A@H7D97@57BGD;FK3@6EF3F;53@66K@3?;55A@H7D97@5736<GEF?7@FE
B;@5GE:;A@5ADD75F;A@F75:@;CG7E3GFA?3F;56793GEE;@95;D5G;F9D7KE53>7FD35=;@9 M5A>AGDE;9@3>FD3@E?;EE;A@
43@6I;6F:?A6G>3F;A@A85A>AGD6;887D7@57E;9@3>E MI7;9:F;@9835FADEAD?3F;A@A85:DA?;@3@57E;9@3>
@FDA6G5F;A@FA6;887D7@F5A>ADF7>7H;E;A@EKEF7?E#)(5A>AGD)+EKEF7?%!5A>AGD)+("EKEF7?

&%''%'$ $)$%$*:@=>+
(3F7>>;F7)+F75:@A>A9K34>7)+ M+'+;67A;E5D75AD6;@93@6B>3K435=)7>7)7JF4DA3653EFD757;H7D M
6;9;F3>F7>7H;E;A@ M)D3@E?;EE;A@3@6D757BF;A@BDA<75F;A@)7>7H;E;A@ M>3F B3@7>6;EB>3K)+D757;H7D M(F7D;A
EAG@6;@)+ M)+!!)7>7H;E;A@

)-)$$ (
) ' ' G>3F;O"A@A5:DA?7)7>7H;E;A@%D35F;57%D;@5;B>7E)75:@A>A9K3@6E7DH5;@9(75A@676;F;A@#7I397
@F7D@3F;A@3>%G4>;E:7E *@;F+3@6+
) ' ' G>3F;O"A@A5:DA?73@65A>AGDF7>7H;E;A@O#7I397@F7D@3F;A@>%G4>;E:7D *@;F3@6+

''#(
'  ":3=7O)7>7H;E;A@3@6+;67A@9;@77D;9@P(75A@676;F;A@)" 
' ( % 3>;OA>AGD)7>7H;E;A@):7ADK3@6%D35F;57P)" 
$-<1>;01
  (
$-<1> 

  

$-<1>$;C1>81/@>;:5/?

$>1>1=A5?5@1?

 B5@C;@97HFCB=7G
 B5@C;@97HFCB=7G

59
(;?@A0E-.;A@4534<;C1>?195/;:0A/@;>01B5/1?-:0@415>-<<85/-@5;:

#.61/@5B1
 (;?@A0E4534<;C1>-<<85/-@5;:;2?195/;:0A/@;>01B5/1?
 '@A01:@C588.1-.81@;A:01>?@-:0-:0-:-8E?1@412A:/@5;:5:3;25:B1>@1>?'&H?4;<<1>?
>13A8-@;>?1@/


'CK9F*9A=7CB8I7HCF9J=79G+KC HF5BG=GHCF$C89@C:+<MF=GHCF$9H<C8GC:+F=;;9F=B;5+<MF=GHCF+<MF=GHCF
+MD9G

+F=;;9F=B;9J=79G+F=;;9F=B;9J=79G,B=>IB7H=CB+F5BG=GHCF<5F57H9F=GH=7G5B8DD@=75H=CBGC:,!+
'FC;F5AA56@9,B=>IB7H=CB+F5BG=GHCF  *=@=7CB CBHFC@@98*K=H7<*=@=7CB,B=@5H9F5@*K=H7<*=@=7CB=@5H9F5@
*K=H7<*<C7?@9M=C89&DHC GC@5HCFG
1+ 3


+<MF=GHCF =F=B; =F7I=HG +IFB CB GMGH9AG )9EI=F9A9BHG :CF +F=;;9F=B; =F7I=HG +<MF=GHCF =F=B; =F7I=HG I@@
.5J9 CBHFC@ C:  K=H< &B9 +<MF=GHCF #=;<H 7H=J5H98 *)G #*) CBHFC@ =F7I=H 'I@G9 +F5BG:CFA9F
+F=;;9F=B;=F=B;*)6M,!++) =F=B;=F7I=H'<5G9CBHFC@C:*)6M'989GH5@5B8)5AD
CBHFC@@98)97H=:=9F+MD9GC:CBJ9FH9FG::97HC: B8I7H=J9#C58CAAIH5H=B;=C89CFF99 .<99@=B;=C89
CBHFC@@98 )97H=:=9FG = '<5G9 5@: .5J9 *=B;@9 .5M *=B;@9 '<5G9 I@@ .5J9 '<5G9 CBHFC@@98 CBJ9FH9F
,G=B; F=8;9 'F=B7=D@9 CI6@9 .5M*=B;@9 '<5G9 :I@@ K5J9 D<5G9 7CBHFC@@98 7CBJ9FH9F IG=B; 6F=8;9 DF=B7=D5@
CI6@9K5M<5FACB=7G
12+ ) 3


BJ9FH9FG+MD9GC: BJ9FH9FGF=8;9 BJ9FH9FG-C@H5;9*CIF79 BJ9FH9FG-* 'I@G9.=8H<$C8I@5H98 BJ9FH9FG
IFF9BH*CIF79 BJ9FH9F
-C@H5;9CBHFC@@9FG+MD9GC:-C@H5;9CBHFC@@9FG'<5G9-C@H5;9CBHFC@@9FG*=B;@9 '<5G9-C@H5;9
CBHFC@@9FK=H<) ##C585FACB=7B5@MG=GC:*=B;@9 '<5G9I@@ .5J9CBHFC@@9FK=H<) ##C585H=B;*=;B5@G
@;;:B1>@1>?4;<<1>?<CDD9FG<CDD9F7@5GG=:=75H=CB+KC(I58F5BH<CDD9FCIF(I58F5BH
<CDD9F$CF;5B<CDD9F
1+ +3


M7@C7CBJ9FH9FG+MD9GC:M7@C7CBJ9FH9FG*=B;@9 '<5G9M7@C7CBJ9FH9F+<F99 '<5G9M7@C7CBJ9FH9FG
+<MF=GHCF
'FCH97H=CB'FCH97H=CB8J 8H'FCH97H=CB8= 8H'FCH97H=CB&J9F&J9FJC@H5;9DFCH97H=CB

:0A?@>5-8 <<85/-@5;:? &B9 *<CH +<MF=GHCF +F=;;9F =F7I=H &J9FJC@H5;9 'FCH97H=CB *=AD@9 5HH9FM <5F;9F
5HH9FM<5F;=B;)9;I@5HCF*H5H=7*K=H7<9G*H5H=7*K=H7<$=7FCDFC79GGCF65G98DD@=75H=CBG ,+  +
) 3
(1D@;;7?
+
Q'CK9F@97HFCB=7G=F7I=HG9J=79GDD@=75H=CBGR' OB88=H=CB

(  '

*9BQ'CK9F@97HFCB=7GR+$ OB88=H=CB

&121>1:/1;;7?
)


)5=Q'CK9F@97HFCB=7G9J=79G=F7I=HG*MGH9AG5B8DD@=75H=CBR5@;CH=5 F88

)
'
*
=A6<5F5Q@97HF=75@$57<=B9FM+<9CFM'9F:CFA5B795B8DD@=75H=CBGR"<5BB5
'I6@=75H=CBGH<8

$-<1>;01

$-<1>0

 (
$-<1> * %  

$>1>1=A5?5@1

+<9CFM5B8+97<BC@C;MC:*9A=7CB8I7HCFG

 B5@C;@97HFCB=7G O

-#5G989G=;B

$=7FC9@97HFCB=7G

59
(;A:01>?@-:0@4101?53:;2:@13>-@105>/A5@?

#.61/@5B1?
 (;31@@41:;C81031-.;A@@41 01?53:91@4;0;8;351?-:0* *1>58;39<8191:@-@5;:;2* '
/5>/A5@?
 (;?@A0E@41?E:@41?5?-:0/;9<81D5@E81B18?

"'(&)(#"'(#$$&'((&' !-D59A9!->7?


(I9GH=CB%C
 G<CI@8697CADI@GCFM5B87CJ9FH<99BH=F9GM@@56IG
+<=GEI9GH=CBG<CI@8<5J9C6>97H=J9CFG<CFH5BGK9FHMD9EI9GH=CBG
 HG<CI@869C:
A5F?G


D5FH:FCA(I9GH=CB%C
 F9GHC:H<9D5D9FG<5@@7CBG=GHC::CIFIB=HG5GD9FH<9GM@@56IG
J9FMIB=HG<CI@8<5J9HKCEI9GH=CBG
CK9J9FGHI89BHA5M
695G?98HC5HH9ADHCB@M EI9GH=CB:FCA957<IB=H
57<EI9GH=CBG<CI@869 A5F?G

,% +
BHFC8I7H=CBHC-#* $9H<C8C@C;=9G -#* '<MG=75@9G=;BIHCA5H=CB 9G=;B5B8
56F=75H=CBC:-#* 9J=79G
1+ ) 3

,% +
(I=7?+CIFC:-#* 9G=;BIHCA5H=CB+CC@G
@;CF=H<A=7F5D< H<9CFM5B87CADIH5H=CB5@
7CAD@9L=HM
1+ +3

,% +
9B9F5@DIFDCG9A9H<C8G:CF7CA6=B5H=CB5@CDH=A=N5H=CB D5FH=H=CB=B; :@CCFD@5BB=B;5B8D=B
5GG=;BA9BH D@579A9BH OFCIH=B;

*=AI@5H=CB @C;=7GMBH<9G=G -9F=:=75H=CB =;<@9J9@GMBH<9G=G


1) + +)3

,% + -
'<MG7=5@9G=;BIHCA5H=CBC:'G$$* -# -9F=@C; AD@9A9BH5H=CBC:*=AD@9
7=F7I=HGIG=B;-#1+ +) )3

 1- ))%,

# +0($
&")+$-#',!)+#2,$& ,$"(
.-)'-$)(
 + 3
&")+$-#',!)+ ,$"(
.-)'-$)(
 ! + ( ,
 ,#+"#$(+$($*& ,)!   ,$"(
 )(- '*)++2)"$ ,$"( (2-3 ($/ +,$-2)! &$!)+($ +% & 2
$-<1> ;01   ( 
$-<1>
  

$-<1>#.61/@#>51:@10 $>;3>-995:3)?5:3 -B-

$>1>1=A5?5@1?
(
#.61/@#>51:@10$>;3>-995:3)?5:3

59
 (;A:01>?@-:059<8191:@-@5;:;2#.61/@#>51:@10$>;3>-995:3/;:/1<@?5:-B-

#.61/@5B1?
 +C'FCJ=89565G=77CIFG9HCIB89FGH5B8>5J55GH97<BC@C;M
 9J9@CDA9BHC:, 65G985B87@=9BH G9FJ9F5DD@=75H=CBG=B>5J5
 ,B89FGH5B8=B;C:7CAACB@MIG98' PGC:!5J5

"'(&)(#"'(#$$&'((&'

(I9GH=CB%C
 G<CI@8697CADI@GCFM5B87CJ9FH<99BH=F9GM@@56IG
+<=GEI9GH=CBG<CI@8<5J9
&6>97H=J9CFG<CFH5BGK9FHMD9EI9GH=CBG
 HG<CI@869C: A5F?G


D5FH:FCA(I9GH=CB%C
 F9GHC:H<9D5D9FG<5@@7CBG=GHC::CIFIB=HG5GD9FH<9GM@@56IG
J9FM
IB=HG<CI@8<5J9HKCEI9GH=CBG
CK9J9FGHI89BHA5M695G?98HC5HH9ADHCB@M EI9GH=CB:FCA
957< IB=H
57<EI9GH=CBG<CI@869 $5F?G

57<,B=H=GC: <FG

):5@ &J9FJ=9KC:H<97CB79DHGC:&6>97H&F=9BH98'FC;F5AA=B;@5GG9G&6>97H
6GHF57H=CB  B75DGI@5H=CB  B<9F=H5B79  'C@MACFD<=GA  5H5 <=8=B; 9H7
*HFI7HIF98
'FC;F5AA=B;J G&&'<5F57H9F=GH=7GC:!5J5&J9FJ=9KC:!5J5'@5H:CFA5B8'FC;F5A
*HFI7HIF9-5F=CIGCDH=CBGC:CAD=@5H=CB5B8L97IH=CBC:5!5J5'FC;F5A>5J57 5B8
>5J5GK=H7<9G
&J9FJ=9KC:H<9IB7H=CB=B;C:5!5J5 =
97@=DG9 %9H695BG @I9!

):5@  !5J5 IB85A9BH5@G  5H5 +MD9G  #=H9F5@G -5F=56@9G FF5MG F=H<A9H=7
&D9F5HCFG #C;=75@ &D9F5HCFGCBHFC@C:@CK@5GG9G5B8 BGH5B79G@5GG$9A69F
$C8=:=9FGBCBMACIG BB9F@5GG B<9F=H5B79 BH9F:579G5B8'57?5;9GL79DH=CB
5B8@=B;5DD@9H5B8=HG#=:97M7@9
):5@  F5D<=75@ 'FC;F5AA=B; .+ CADCB9BHG CADCB9BH @5GG CBH5=B9F
@5GG#5MCIH$5B5;9FGCF89F#5MCIH@CK#5MCIHF=8#5MCIH5F8#5MCIHF=8
5; #5MCIH
 .+ J9BHG J9BH $C89@G  #=GH9B9FG 5B8 85DH9FG  7H=CB J9BH
$9H<C8G C7IG J9BH "9M J9BH $CIG9 J9BHG .=B8CK J9BH
 +<F958G F95H=B;
+<F958G  +<F958 'F=CF=HM +<F958 *MB7<FCB=N5H=CB 5B8 CAAIB=75H=CB IG=B; K5=H 
BCH=:M5B8BCH=:M5@@

):5@* BDIH &IHDIH*HF95A*HF95A=@H9FGI::9F98*HF95AG5H5=BDIH5B8&IHDIH


*HF95A'F=BH*HF95A)5B8CA779GG=@9 !5H565G97CBB97H=J=HMK=H<&F57@9
&6>97H G9F=5@=N5H=CB  *C7?9HG  89J9@CDA9BH C: 7@=9BH *9FJ9F 5DD@=75H=CBG  89G=;B C:
$I@H=H<F95898 G9FJ9F
)9ACH9 $9H<C8 =BJC75H=CB  C@@97H=CB'  BH9F:579G  -97HCF 
GH57?5G<H56@97@5GG9G9BIA9F5H=CBGG9H#=GH$5D  H9F5HCFG

'5D9FC89  #+
'5D9F 

 

'5D9F AFFE ;35/-:0'E?@19?

'F9 F9EI=G=H9G

+  FH=:=7=5@ BH9@@=;9B79

=A
+CIB89FGH5B8H<9INNM@C;=75B8CD9F5H=CBG

&6>97H=J9G
= +CIB89FGH5B8INNM5F=H<A9H=75B8F9@5H=CBG

== +C9G=;B:INNM*MGH9AG

"'(&)(#"'(#$$&'((&' !-D59A9!->7?


(I9GH=CB%C
 G<CI@8697CADI@GCFM5B87CJ9FH<99BH=F9GM@@56IG
+<=GEI9GH=CBG<CI@8<5J9C6>97H=J9CFG<CFH5BGK9FHMD9EI9GH=CBG
 HG<CI@869C:
A5F?G


D5FH:FCA(I9GH=CB%C
 F9GHC: H<9D5D9FG<5@@7CBG=GHC::CIFIB=HG5GD9FH<9GM@@56IG
J9FMIB=HG<CI@8<5J9HKCEI9GH=CBG
CK9J9FGHI89BHA5M
695G?98HC5HH9ADHCB@M EI9GH=CB:FCA957<IB=H
57<EI9GH=CBG<CI@869 A5F?G

):5@
&J9FJ=9KC:@5GG=75@*9HG$9A69FG<=DIB7H=CB  7IHG'FCD9FH=9GC:  7IHG97CADCG=H=CB
+<9CF9AGLH9BG=CB'F=B7=D@9

&D9F5H=CBG CB INNM *9HG CAD@=A9BH BH9FG97H=CBG ,B=CBG CA6=B5H=CBG C: &D9F5H=CBG
;;F9;5H=CB&D9F5H=CBG

):5@
INNM F=H<A9H=7INNM%IA69FG #=B;I=GH=7-5F=56@9GF=H<A9H=7&D9F5H=CBGCB=BH9FJ5@G
%IA69FG#5HH=79C:INNM%IA69FGINNMEI5H=CBG

INNM )9@5H=CBG F=GD  INNM )9@5H=CBG 'FC>97H=CBG  M@=B8F=7 LH9BG=CBG =B5FM INNM
)9@5H=CBG =B5FM )9@5H=CBG CB  G=B;@9 G9H EI=J5@9B79 CAD5H=6=@=HM  &F89F=B; )9@5H=CBG
$CFD<=GAGINNM)9@5H=CBEI5H=CBG

):5@
'CGG=6=@=HM +<9CFM INNM $95GIF9G J=89B79  'CGG=6=@=HM +<9CFM 'CGG=6=@=HM J9FGIG
'FC656=@=HM+<9CFM

INNM #C;=7 @5GG=75@ #C;=7 $I@H=J5@I98 #C;=7G INNM 'FCDCG=H=CBG INNM (I5@=:=9FG
#=B;I=GH=798;9G

):5@
,B79FH5=BHM 65G98 B:CFA5H=CB B:CFA5H=CB  ,B79FH5=BHM %CBGD97=:=7=HM C: INNM  F=GD
G9HGINN=B9GGC:INNM*9HG

9G=;BC::INNMGMGH9AG

(1D@;;7


!
"@=F/I5BQINNM*9HG5B8:INNM@C;=7+<9CFM5B85DD@=75H=CBGR'F9BH=79
5@@ B8=5 

&121>1:/1;;7?

!C<B/9B)9N5#5B;5F=QINNM#C;=7 BH9@@=;9B79CBHFC@5B8 B:CFA5H=CBR
'95FGCB8I75H=CB 


)CGGQINNM#C;=7K=H<B;=B99F=B;DD@=75H=CBGR B88=H=CB!C<B.=@9M
 



0=AA9FA5BBQINNM*9H+<9CFM5B8=HG5DD@=75H=CBGR B88=H=CB@@=98'I6@=G<9FG


$-<1>;01  ( 
$-<1>
  

$-<1> 535@-89-31$>;/1??5:3 -:0<<85/-@5;:?

$>1>1=A5?5@1?

 =;=H5@*=;B5@'FC79GG=B;

59
(;A:01>?@-:0@41/;:/1<@;20535@-859-31-?-@C;0591:@5;:-8?53:-8-:0?@A0EB->5;A?9-@419-@5/-8
;<1>-@5;:?<1>2;>910;:0535@-859-31?

#.61/@5B1
 (;9-71@41?@A01:@?-:-8E?19-31?53:-85:2>1=A1:/E0;9-5:-:0<1>2;>9B->5;A?;<1>-@5;:?
?A/4-?@>-:?2;>9-@5;:/;9<>1??5;:&1?@;>-@5;:-:0/;05:3

"'(&)(#"'(#$$&'((&' !-D59A9!->7?


(I9GH=CB%C
 G<CI@8697CADI@GCFM5B87CJ9FH<99BH=F9GM@@56IG
+<=GEI9GH=CBG<CI@8<5J9C6>97H=J9CF
G<CFH5BGK9FHMD9EI9GH=CBG
 HG<CI@869C: A5F?G


D5FH :FCA (I9GH=CB %C
  F9GH C: H<9 D5D9F G<5@@ 7CBG=GH C: :CIF IB=HG 5G D9F H<9 GM@@56IG
 J9FM IB=H
G<CI@8<5J9HKCEI9GH=CBG
CK9J9FGHI89BHA5M695G?98HC5HH9ADHCB@M EI9GH=CB:FCA957<IB=H
57<
EI9GH=CBG<CI@869 A5F?G

)"(( !)"!"( '"(&"'#&!'


@9A9BHGC:J=GI5@D9F79DH=CB O A5;9G5AD@=B;5B8EI5BH=N5H=CB5G=7F9@5H=CBG<=D69HK99BD=L9@G O5G=7
;9CA9HF=7HF5BG:CFA5H=CBG BHFC8I7H=CBHCCIF=9F+F5BG:CFA5B8+ O'FCD9FH=9GC:CIF=9F+F5BG:CFA O+
O*9D5F56@9 A5;9+F5BG:CFAG .5@G< O585A5F8 O=G7F9H9CG=B9+F5BG:CFA55F*@5BH O"5F<IB9B O#C9J9
HF5BG:CFAG
1+ 3

)"(!""!"(("%)'
*D5H=5@CA5=BA9H<C8G5G=7;F9M@9J9@HF5BG:CFA5H=CB O=GHC;F5A9EI5@=N5H=CB O A5;9GI6HF57H=CB O A5;9
5J9F5;=B; O*D5H=5@:=@H9F=B;*ACCH<=B;G<5FD9B=B;:=@H9FG O#5D@57=5B:=@H9FG OF9EI9B7M8CA5=B:=@H9FG
*ACCH<=B; O*<5FD9B=B;:=@H9FG OCACACFD<=7:=@H9F=B;

1+ 3
)"(!&'(#&(#""#!$&''#"
$C89@C: A5;99;F585H=CB F9GHCF5H=CBDFC79GG O%C=G9AC89@G O BJ9FG9:=@H9F=B; #95GHA95BGEI5F9:=@H9F=B; O
CBGHF5=B98@95GHA95BGEI5F9:=@H9F=B; O@=B8=A5;9F9GHCF5H=CB O'G9I8C=BJ9FG9 O*=B;I@5FJ5@I9897CADCG=H=CB
#CGG@9GG7CADF9GG=CB-5F=56@9@9B;H<7C8=B; O#0.7C8=B; O=HD@5B97C8=B; DF98=7H=J97C8=B; '$

#CGGMCADF9GG=CB+F5BG:CFA7C8=B; O.5J9@9H7C8=B; O5G=7GC: A5;97CADF9GG=CBGH5B85F8G!'


$'5G=7GC:-97HCFEI5BH=N5H=CB

1+ ) )3

)"(*!'!"((#""&$&'"((#"
8;989H97H=CB O+<F9G<C@8=B; )9;=CB5G98G9;A9BH5H=CB OCIB85FMF9DF9G9BH5H=CB7<5=F7C89G 'C@M;CB5@
5DDFCL=A5H=CB OCIB85FMG9;A9BHG O6CIB85FM89G7F=DHCFG*=AD@989G7F=DHCFG CIF=9F89G7F=DHCFG )9;=CB5@
89G7F=DHCFG O*=AD@989G7F=DHCFG +9LHIF9
1+ ) 3

(1D@;;7?
(
)5:59@CBN5@9N)=7<5F8.CC8GB88=H=CB=;=H5@ A5;9'FC79GG=B; '95FGCB8I75H=CB 

&121>1:/1?
&
.=@@=5A"'F5HH=;=H5@ A5;9'FC79GG=B;!C<B.=@@9M 
&
 A5;9'FC79GG=B;B5@MG=G5B8$57<=B9-=G=CB O$=@@A5B*CB?5-57@5J<@5J57)C;9FCM@9FCCG 7C@=7
+<CADGCB#95FB=M 

&

"
!5=B' %9K9@<=  IB85A9BH5@GC:=;=H5@ A5;9'FC79GG=B;

&
<5B85IHH5$5;IB85F O=;=H5@ A5;9'FC79GG=B;5B8DD@=75H=CBG'F9BH=795@@C: B8=5
$-<1>;01 #+
$-<1>
  

$-<1> 5:1->-:0";:85:1->#<@595F-@5;:(1/4:5=A1?

$>1>1=A5?5@1?
(
CADIH5H=CB5@+97<B=EI9G

59
(; 81->:85:1->:;:85:1->;<@595F-@5;:@1/4:5=A1?-:0<>;3>-995:3

#.61/@5B1
 (41/;A>?1C5889-71@41?@A01:@?;8B1:35:11>5:3;<@595?-@5;:<>;.819?
 (41?@A01:@C58881->:-B->51@E;2@1/4:5=A1?@;?;8B185:1->:;:85:1-><>;.819?

"'(&)(#"'(#$$&'((&' !-D59A9!->7?


(I9GH=CB%C
 G<CI@8697CADI@GCFM5B8 7CJ9FH<99BH=F9GM@@56IG
+<=GEI9GH=CBG<CI@8<5J9C6>97H=J9CF
G<CFH5BGK9FHMD9EI9GH=CBG
 HG<CI@869C: A5F?G


D5FH :FCA (I9GH=CB %C
  F9GH C: H<9 D5D9F G<5@@ 7CBG=GH C: :CIF IB=HG 5G D9F H<9 GM@@56IG
 J9FM IB=H
G<CI@8<5J9HKCEI9GH=CBG
CK9J9FGHI89BHA5M695G?98HC5HH9ADHCB@M EI9GH=CB:FCA957<IB=H
57<
EI9GH=CBG<CI@869 A5F?G

)"( G
:@>;0A/@5;:-:08-??5/-8#<@595F-@5;:(1/4:5=A1?
*H5H9A9BHC:5B&DH=A=N5H=CBDFC6@9A O89G=;BJ97HCF O89G=;B7CBGHF5=BHG O7CBGHF5=BHGIF:579 OC6>97H=J9:IB7H=CB
OC6>97H=J9:IB7H=CBGIF:579G O7@5GG=:=75H=CBC:&DH=A=N5H=CBDFC6@9AG

*=B;@9J5F=56@9&DH=A=N5H=CB OAI@H=J5F=56@9&DH=A=N5H=CBK=H<CIH7CBGHF5=BHG OB979GG5FM5B8GI::=7=9BH7CB8=H=CBG


:CFA=B=AIA A5L=AIA OAI@H=J5F=56@9&DH=A=N5H=CBK=H<9EI5@=HM7CBGHF5=BHG
*C@IH=CB6MA9H<C8C:#5;F5B;9
AI@H=D@=9FG OAI@H=J5F=56@9&DH=A=N5H=CBK=H<=B9EI5@=HM7CBGHF5=BHG O"I<B O+I7?9F7CB8=H=CBG

)"( G
5:1->$>;3>-995:3
*H5B85F8:CFAC:5@=B95FDFC;F5AA=B;DFC6@9A O;9CA9HFMC:@=B95FDFC;F5AA=B;DFC6@9AG O89:=B=H=CBG5B8
H<9CF9AG OGC@IH=CBC:5GMGH9AC:@=B95FG=AI@H5B9CIG9EI5H=CBG OD=JCH5@F98I7H=CBC:5;9B9F5@GMGH9AC:
9EI5H=CBG OACH=J5H=CBHCH<9G=AD@9LA9H<C8 OG=AD@9L5@;CF=H<A

#<@595F-@5;:
(I5G= %9KHCB$9H<C8G5B8@=B9G95F7<@95GHGEI5F9GCDH=A=N5H=CB5IGG
%9KHCB#9J9B69F; $5FEI5FH8LH9BG=CBGC:#'HC$=L98 BH9;9F#=B95F'FC;F5AA=B;
$ #'%CB #=B95F'FC;F5AA=B;+<9%9KHCB@;CF=H<A%CB #=B95F#95GH*EI5F9G
*9EI9BH=5@(I58F5H=7G'FC;F5AA=B;*('CBGHF5=B98&DH=A=N5H=CB*(' AD@9A9BH5H=CB
$I@H= &6>97H=J9&DH=A=N5H=CBF5B7<5B8CIB8DDFC57<9G9B9H=7@;CF=H<AG5B89B9H=7
'FC;F5AA=B;*=B;I@5F5G98&DH=A=N5H=CB&B #=B9)95@ +=A9&DH=A=N5H=CB&DH=A=N5H=CB=B
7CBCA9HF=7GDDFC57<9G O@I9

)"(
(>-:?<;>@-@5;:$>;.819
=B8=B;=B=H=5@65G=7:95G=6@9GC@IH=CB6MBCFH< OK9GH7CFB9FFI@9@95GH7CGHA9H<C85B8-C;9@PG5DDFCL=A5H=CB
A9H<C8 OH9GH=B;:CFCDH=A5@=HMC:65@5B798HF5BGDCFH5H=CBDFC6@9AG

):/;:?@>-5:10";:85:1->$>;3>-995:3
&B9 O8=A9BG=CB5@A=B=A=N5H=CBA9H<C8G @5GG=:=75H=CB=6CB577=A9H<C85B8(I58F5H=7=BH9FDC@5H=CBA9H<C8
):/;:?@>-5:10#<@595F-@5;:(1/4:5=A1?
,B=J5F=5H9A9H<C8'CK9@@PGA9H<C85B8GH99D9GH89G79BHA9H<C8

)"( G*
;:?@>-5:10";:85:1->$>;3>-995:3
<5F57H9F=GH=7GC:57CBGHF5=B98DFC6@9A@5GG=:=75H=CB5G=75DDFC57<C:'9B5@HMIB7H=CBA9H<C85G=7
5DDFC57<9GC: BH9F=CF5B8LH9F=CFD9B5@HM:IB7H=CBA9H<C8G
 BHFC8I7H=CBHC7CBJ9L'FC;F5AA=B;'FC6@9A

E:-95/$>;3>-995:3
MB5A=7DFC;F5AA=B;AI@H=GH5;9897=G=CBDFC79GG9G OHMD9G O7CB79DHC:GI6CDH=A=N5H=CB5B8H<9DF=B7=D@9C:
CDH=A5@=HM O7CADIH5H=CB5@DFC798IF9=B8MB5A=7DFC;F5AA=B; O9L5AD@9G=@@IGHF5H=B;H<975@7I@IGA9H<C8C:
GC@IH=CB 9L5AD@9G=@@IGHF5H=B;H<9H56I@5FA9H<C8C:GC@IH=CB

(1D@;;7?

(
QB;=B99F=B;CDH=A=N5H=CB+<9CFM5B8DF57H=79R 6M*
*
)5C%9K;9 BH9FB5H=CB5@'#=A=H98F898=H=CB


(
Q BHFC8I7HCFM&D9F5H=CBG)9G95F7<R6M
*
"5G9B9"

"IA5F*DF=B;9F B8=5'JH
#+8

(
.=BGHCB.#&D9F5H=CBG)9G95F7<DD@=75H=CBG5B8@;CF=H<AG
(
)5C*
*
&DH=A=N5H=CB+<9CFM5B8DD@=75H=CBG

(
.5@G<)$A9H<C8GC:&DH=A=N5H=CB

(
.=@@=5AG
'
$C89@I=@8=B;=B$5H<9A5H=7G'FC;F5AA=B;

(
.=@@=5AG
'
$C89@*C@J=B;=B$5H<9A5H=7G'FC;F5AA=B;
(

#
%9A<5IG9F5B8#

.C@G9M BH;9F5B8CA6=B5H=CB5@&DH=A=N5H=CB

(
)

'5F?9F5B8)
#
)5F8=B=G7F9H9&DH=A=N5H=CB

&121>1:/1;;7?

& Q&DH=A=N5H=CB$9H<C8G=B&D9F5H=CBG)9G95F7<5B8GMGH9AGB5@MG=GR O6M"


-
$=H5@5B8
$C<5B%9K
;9 BH9FB5H=CB5@'#=A=H98'I6@=G<9FGF898=H=CB 

&
&D9F5H=CBG)9G95F7< O6MF
*

*<5FA5

&
Q&D9F5H=CBG)9G95F7<B BHFC8I7H=CBR O6M

+5<5' 'JH
#H8
H<98=H=CB
&
#=B95F'FC;F5AA=B; O6M
58@9M
$-<1>;01   #+
$-<1>
   

$-<1> 2C7IA9BHG5B8*9HH=B;G2:57I@HM2#C75@*9HH=B;G2+9AD2GM@@56IG4+
<HA
+&'+&'0B-:/1?:+5>181??;99A:5/-@5;:
$>1>1=A5?5@1?
 $C6=@9CAAIB=75H=CB

59
(;?@A0E-:0/;9<->1@41<1>2;>9-:/1;2B->5;A?9;0A8-@5;:-:0-//1??@1/4:5=A1?5:
0B-:/1>-05;?E?@19?

#.61/@5B1
 (41?@A01:@C58881->:-.;A@>-05;<>;<-3-@5;:/4->-/@1>5?@5/?2-05:39;0A8-@5;:-//1??
@1/4:5=A1?(! ! !-:0C5>181???@-:0->0?

"'(&)(#"'(#$$&'((&' !-D59A9!->7?


(I9GH=CB%C
 G<CI@8697CADI@GCFM5B87CJ9FH<99BH=F9GM@@56IG
+<=GEI9GH=CBG<CI@8<5J9C6>97H=J9CF
G<CFH5BGK9FHMD9EI9GH=CBG
 HG<CI@869C: A5F?G


D5FH :FCA (I9GH=CB %C
  F9GH C: H<9 D5D9F G<5@@ 7CBG=GH C: :CIF IB=HG 5G D9F H<9 GM@@56IG
 J9FM IB=H
G<CI@8<5J9HKCEI9GH=CBG
CK9J9FGHI89BHA5M695G?98HC5HH9ADHCB@M EI9GH=CB:FCA957<IB=H
57<
EI9GH=CBG<CI@869 A5F?G
)"(
)58=C'FCD5;5H=CB<5F57H9F=GH=7G$C89@G:CF'5H<@CGG*<58CK=B;$I@H=D5H<:58=B; 89@5MGDF958C<9F9B79
65B8K=8H<C<9F9B79+=A9CDD@9F*DF958!5?9G<5BB9@AC89@

)"(  
=;=H5@$C8I@5H=CB:CF$C6=@9F58=CB5@MG=GIB89F:58=B;7<5BB9@8=J9FG=HMH97<B=EI9G5B8)5?989AC8I@5HCF

BHFC8I7H=CBHC*DF958*D97HFIACAAIB=75H=CB$I@H=D@9779GG+97<B=EI9GIG98=B$C6=@9.=F9@9GG
CAAIB=75H=CBG$ +$ $

)"( 
+<9
9@@I@5F7CB79DHF9EI9B7M)9IG965G=7H<9CFMC:<9L5;CB5@79@@@5MCIHGD97HFIA9::=7=9B7M$ +$
9@@I@5F*MGH9A7<5BB9@5@@C75H=CBG7<9A9G<5B8CJ9FB5@MG=G79@@I@5F$*C:H75D57=HMF@5B;75D57=HM
7CAD5F=GCB

)"( *
.=F9@9GGGH5B85F8G *$ * ,$+* $+  *=;B5@=B;5@@CBHFC@$C6=@=HM$5B5;9A9BH5B8@C75H=CB
+F57=B;
.=F9@9GG BH9FB9H8<C7K=F9@9GGB9HKCF?GFC5865B8K=F9@9GG5B8EI5@=HMC:G9FJ=79#C75H=CB
A5B5;9A9BH'9FJ5G=J9<95@H<75F9

(1D@;;7?
(
+<9C8CF9*
)9DD9DCFH.=F9@9GGCAAIB=75H=CBG'F=B7=D@9G5B8'F57H=79 'F9GG'F9BH=795@@

(
.=@@=5A
/
#99$C6=@99@@I@5F+9@97CAAIB=75H=CBB5@C;5B8=;=H5@*MGH9AG$7F5K=@@ B7

&121>1:/1;;7?
&
"5A=@C9<9F.=F9@9GG=;=H5@CAAIB=75H=CBG$C89FB=N5H=CB*DF958*D97HFIADD@=75H=CBG'F9BH=795@@
C:@B8=5%9K9@<=

&
"5J9<'5<@5J5B5B8@@9B
#9J9GEI9.=F9@9GG B:CFA5H=CB%9HKCF?G.=@9M*9F=9G!C<B.=@9M
$-<1>;01  (
$-<1>
   

$-<1>!A8@59105-/;99A:5/-@5;:?

$>1>1=A5?5@1
+  BHFC8I7H=CBHCCADIH9FG
 CAAIB=75H=CB*MGH9AG

59
(;4-B1-7:;C81031;205221>1:@!A8@59105--:0-<<85/-@5;:

#.61/@5B1
 (;A:01>?@-:0B->5;A?@E<1?;2!A8@59105-'E?@19?
 (;4-B1-7:;C81031;2/;9<>1??5;:(1/4:5=A1?-:0?@-:0->0?

"'(&)(#"'(#$$&'((&' !-D59A9!->7?


(I9GH=CB%C
 G<CI@8697CADI@GCFM5B87CJ9FH<99BH=F9GM@@56IG
+<=GEI9GH=CBG<CI@8<5J9C6>97H=J9CF
G<CFH5BGK9FHMD9EI9GH=CBG
 H G<CI@869C: A5F?G


D5FH :FCA (I9GH=CB %C
  F9GH C: H<9 D5D9F G<5@@ 7CBG=GH C: :CIF IB=HG 5G D9F H<9 GM@@56IG
 J9FM IB=H
G<CI@8<5J9HKCEI9GH=CBG
CK9J9FGHI89BHA5M695G?98HC5HH9ADHCB@M EI9GH=CB:FCA957<IB=H
57<
EI9GH=CBG<CI@869 A5F?G

):5@ G 
BHFC8I7HCFM 7CB79DHG $I@H=A98=5  89:=B=H=CB =::9F9BH HMD9G C: AI@H=A98=5  DFC8I7HG  =B 8=::9F9BH :=9@8G 
BHFC8I7H=CB HC A5?=B; C: AI@H=A98=5 O H<9 GH5;9G C: H<9 DFC>97HG H<9 <5F8K5F9 5B8 GC:HK5F9 F9EI=F9A9BHG 9H7


IH<CF=B;HCC@G5H9;CF=9GC:IH<CF=B;+CC@G

):5@  
#CGG@9GG 5B8 #CGGM 7CADF9GG=CB )IB @9B;H< 7C8=B; *H5H=GH=75@ C8=B; +F5BG:CFA C8=B; A5?=B; C: !'
A5?=B; C: $' +9LH 7CADF9GG=CB IG=B; GH5H=7 I::A5B  H97<B=EI9 MB5A=7 I::A5B +97<B=EI9 F=H<A9H=7
+97<B=EI99H7


):5@ G 
=GHF=6IH98 AI@H=A98=5 GMGH9AG )9GCIF79 A5B5;9A9BH C: $* ' B9HKCF?=B; $I@H=A98=5 CD9F5H=B; GMGH9AG
8=GHF=6IH98AI@H=A98=5G9FJ9FG=GHF=6IH98AI@H=A98=55DD@=75H=CBG$I@H=A98=5=@9CFA5HG

):5@
$I@H=A98=57CAAIB=75H=CBGH5B85F8G$' $' $' I8=C -=89C$' -=GI5@+9LHIF97C8=B;
-+$I@H=A98=57CAAIB=75H=CB57FCGGB9HKCF?G

CADF9GG=CB+97<B=EI9G!'$'

(1D@

)5CC>?CJ=7$=@CJ5BCJ=7Q$I@H=A98=5CAAIB=75H=CB*MGH9AGR'

B8@9=;<+<5?F5FQ$I@H=A98=5*MGH9A9G=;BR'
&121>1:/1?

*<5F85Q$I@H=A98=5 B:CFA5H=CB%9HKCF?=B;R'

-5I;<5BQ$I@H=A98=5A5?=B;=HKCF?R+5H5$7F5K=@@

You might also like