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

&%,+"/)0)-+"
-12134"53678793:"93"'166;7<1"

!"#$%&'((!)"*
)4"3=>?9;<"934"@<7>61A?7><"=3B36<"A36=;C?3"9<="<DE3>;B<="A6;7@;A143=F"

!G /37=;D;4;:16" 14" 14?H7<" 1@36@1" 93" 4<=" 1=A3@><=" I<6;:<7>143=" JH34K9;@<=G" 93" 41"
@<HA<=;@;K7L" M373614H37>3N" 34" 14?H7<" O?3" 1D<691" 34" @<7>61A?7><" =3B36<" =3" I1"
;7;@;19<" P1" 37" 41" 16H<7Q1" 93" 3=@?341L" #;37>61=" R=>1" 9;=@;A4;71" H16C;71D1" 41="
@?3=>;<73=" H34K9;@1=" A161" @<7@37>616=3" H3E<6" 37" 4<=" 1=A3@><=" 16HK7;@<=" 93" 41"
@<HA<=;@;K7N"34"@<7>61A?7><"=3B36<"H16C;71"3=><="S4>;H<="A161"A36H;>;6"14"14?H7<"
@37>616=3"A6;7@;A14H37>3"37"34"1=A3@><"H34K9;@<"93"41"@<HA<=;@;K7L"

TG &>;4;:16" 41" A<4;2<7Q1" B<@14" @48=;@1" @<H<" 3=>;4<" 93" 6323637@;1" A161" 41" 6314;:1@;K7" 934"
A6;H36"<DE3>;B<L")4"3=>?9;<"934"@<7>61A?7><"=?343"?>;4;:16"9<="3=>;4<="93"6323637@;1N"
41" A<4;2<7Q1" B<@14" @48=;@1" J.143=>6;71G" P" 34" @<7>61A?7><" ;7=>6?H37>14" D166<@<"
JU1@IGL" )4" 3=>?9;<" 934" @<7>61A?7><" 1" A16>;6" 934" A6;H36" 3=>;4<" =3" 937<H;71"
V@<7>61A?7><" =3B36<WN" H;37>61=" O?3" 34" =3C?79<" =?343" 937<H;716=3" V@<7>61A?7><"
4;D63WL" '1" ?>;4;:1@;K7" 93" ?7" 3=>;4<" 93" 6323637@;1" =;6B3" A161" @<7>3X>?14;:16" 34"
1A6379;:1E3"P"@<7<@36N"93"A1=<N"9;@I<"3=>;4<"37"H1P<6"A6<2?79;919L"

+,*-./01.23,*4.5,/*5/6705,*
'1"A<4;2<7Q1"B<@14"@48=;@1"3="34"3=>;4<"H?=;@14"9<H;717>3"37"41"HS=;@1"=1@61"934"=;C4<"Y0Z"P"
>;373" @<H<" @<HA<=;><6" H8=" 63A63=37>1>;B<" 1" M;<B177;" .;364?;C;" 91" .143=>6;71" J![T[\]^GL"
+>6=" @<HA<=;><63=" 63A63=37>1>;B<=" 93" 3=>3" 3=>;4<" =<7" _<=O?;7" (3=A63:" J@1L" !^[`\![T!GN"
*6;=>KD14" 93" #<6143=" J![``\[aGN" +64179<" 9;" '1==<" J![aT\]^G" P" ,<H8=" '?;=" 93" 0;@><6;1"
J![^b\!c!!GL"

)4"3=>;4<"B<@14"@48=;@<"=3"@161@>36;:1"A<6"41"3X>63H1"93A?61@;K7"93"41="4Q731="H34K9;@1=N"93"
H<9<"O?3"=3"C1617>;@3"=?"5,28,90/0:,:N"1/;0:<="3"028<>?7F"

• *17>1D;4;919L" '1" H34<9Q1" B<@14" @48=;@1" =343@@;<71" P" 9;=A<73" 4<=" ;7>36B14<=" 93" >14"
H<9<"O?3"=?"37><71@;K7"7<"63=?4>3",2802,8;>,/"<";7@KH<91L""

• 54?;93:L"'1"H34<9Q1"B<@14"@48=;@1"9;=A<73"34"6;>H<"P"4<=";7>36B14<="93">14"H<9<"O?3"
7<"C37363":075.2802;0:,:<7"7;"323@><="1>6<A34419<="<"441H1>;B<=L"

• Z7>36R=L"'1"H34<9Q1"B<@14"@48=;@1"=3"<6C17;:1"93">14"H<9<"O?3"7<"63=?4>3"@.2A8.2,"
P"O?3"63=?4>3"B16;191L"

.<6"<>6<"419<N"34"3=>;4<"B<@14"@48=;@<"B341"A<6"41"02:<-<2:<250,"37>63"41="9;=>;7>1="B<@3=N"93"
>14" H17361" O?3" ><91=" 3441=" I1C17" B1436" 41=" @?14;9193=" 934" 3=>;4<" =;7" O?3" ?71=" 3=>R7"
=?D<69;7191="@<7"63=A3@><"1"<>61=L""

!"

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

B/*7078<@,*:<*<7-<50<7*
)4" @<7>61A?7><" =3B36<" =3" 3=>?9;1" H39;17>3" ?71" =3@?37@;1" <6937191" 93" 3E36@;@;<=N"
@<7=;=>37>3="37"41"3=@6;>?61"93"?7<"<"B16;<="@<7>61A?7><="1"A16>;6"93"?7"!"#$%&'()*+%&"919<"
JH34<9Q1"B<@14"37"639<791=G"37"9;=>;7>1="<7-<50<7L".<6"3=A3@;3"=3"37>;3793"?7"@<7E?7><"93"
63C41="93"@<7=>6?@@;K7"H34K9;@1L")4"@<7>61A?7><"=3B36<"9;=>;7C?3"@;7@<"3=A3@;3=F"

!G .6;H361" 3=A3@;3L" /;=>3H1" 93" 63C41=" O?3" C<D;36717" 41" @<HA<=;@;K7" 93" ?7"
@<7>61A?7><"37"639<791=L"

TG /3C?791"3=A3@;3L"d93HL"93"?7"@<7>61A?7><"37"D417@1=L"

aG ,36@361"3=A3@;3L"d93HL"93"?7"@<7>61A?7><"37"73C61=L"

^G *?16>1"3=A3@;3L"d93HL"93"?7"@<7>61A?7><"37"=Q7@<A1="93"639<791L"

[G e?;7>1"3=A3@;3L"d93H"93"?7"@<7>61A?7><"V24<6;9<W"<"93"@<HD;71@;K7"93"3=A3@;3=L"

.<=>36;<6H37>3"=3"A61@>;@1"@<7>61A?7><"24<6;9<"37"><91="41="B<@3="P"41";H;>1@;K7L"

(.27.2,250,*C*:07.2,250,*
'1=" 63C41=" 934" @<7>61A?7><" =3B36<" =3" 932;737" 1" A16>;6" 93" 4<=" @<7@3A><=" 93" @<7=<717@;1" P"
9;=<717@;1L"'1"A<4;2<7Q1"@48=;@1"9;=>;7C?Q1">63=">;A<="93";7>36B14<=F"

!G (.27.2,250,7* -<>1<58,7L" Z7>36B14<=" ?4>61" @<7=<717>3=N" A36<" A<D63=" 93=93" 34"

A?7><"93"B;=>1"16H<7;@<F"&7Q=<7<N"<@>1B1"P"O?;7>1"E?=>1L"

TG (.27.2,250,7* 0@-<>1<58,7L" Z7>36B14<=" @<7=<717>3=N" A36<" H8=" 6;@<=" 93=93" 34"

A?7><"93"B;=>1"16HK7;@<F",36@361="H1P<63="P"H37<63=N"=3X>1="H1P<63="P"H37<63=L"

aG &07.2,250,7L" Z7>36B14<=" 9;=<717>3=N" 4<=" H8=" 6;@<=" 93=93" 34" A?7><" 93" B;=>1"
16HK7;@<F" /3C?791=" H1P<63=" P" H37<63=N" =RA>;H1=" H1P<63=" P" H37<63=N" ><9<=" 4<="
;7>36B14<="1?H37>19<="P"9;=H;7?;9<=L"

$4C?7<=" ;7>36B14<=" @<H<" 41" @?16>1" E?=>1N" 34" >6;><7<" J@?16>1" 1?H37>191" <" =?" ;7B36=;K7N" 41"
O?;7>1"9;=H;7?;91G"<"41"O?;7>1"1?H37>191"=3"@<7=;93617"9;=<717>3="1"9<="B<@3=N"A36<"=3"
>61>17" @<H<" @<7=<717>3=" 1" H8=" 93" >63=" B<@3=" =;3HA63" O?3" 7<" =3" 2<6H37" @<7" 63=A3@><" 14"
D1E<L"/3">61>1N"A?3=N"93"5.27.2,250,7"J<"9;=<717@;1=G"5.2:050.2,/<7L"

"

(.27.2,250,7*-<>1<58,7* !N"bN"[" "

(.27.2,250,7*0@-<>1<58,7* aN"c" "
&07.2,250,7* TN"f" ghciN"ghTjfik""
&07.2,250,7*5.2:050.2,/<7* ^" gh^j[iN"g^9;=jh[i"
"

T"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

$<D078>.*:<*/,7*4.5<7*
'<="@<7>61A?7><="93D37"1=;C716=3"1"14C?7<"93"4<="@?1>6<"63C;=>6<="9;=A<7;D43="37">;3HA<="
93" .143=>6;71N" 34" !"#$%&" J=<A617<GN" ",$%&" J14><" <" @<7>614><GN" >37<6" P" 34" -"&&%&" JD1E<GL" '<="
63C;=>6<="@<663=A<79;37>3="1"3=>1="B<@3="=<7"4<="=;C?;37>3=F"

"

&078,250,*<28><*4.5<7*
.161"H17>3736"@;36>1"@<I3=;K7"37>63"41="B<@3="7<"@<7B37968"O?3"9<="B<@3="19P1@37>3="=3"
9;=>17@;37"H8="1448"93"?71"!`m"J<@>1B1"h">36@361G"=14B<"3X@3A@;<714H37>3N"=;"C61@;1="1"344<"
<D>373H<=" ?71" D?371" 4Q731" H34K9;@1L" )7" 34" 3=>;4<" ;7=>6?H37>14" J=;7" >3X><G" 41" 9;=>17@;1"
H8X;H1"A?393"=36"93"I1=>1"9<="<@>1B1=L"

%58,4,7*C*E;028,7*-,>,/</,7F*7;5<704,7*<*028<>@08<28<7*
'1="<@>1B1="P"O?;7>1="-,>,/</,7"63=?4>17"@?179<"9<="B<@3="63A;>37"?7<"93"3=><=";7>36B14<="
J<" =?=" 1HA4;1@;<73=" <" 639?@@;<73=" 1" 41" <@>1B1G" A<6" H<B;H;37><" 9;63@><L" '1=" <@>1B1=" P"
O?;7>1="7;5<704,7"63=?4>17"@?179<"@?179<"9<="B<@3="63A;>37"?7<"93"3=><=";7>36B14<="A<6"
H<B;H;37><"@<7>616;<L"'1="<@>1B1="P"O?;7>1="028<>@08<28<7"=3"A6<9?@37"@?179<"9<="B<@3="
63A;>37"?7<"93"3=><=";7>36B14<="A36<"14"H37<="?71"93"41="B<@3="I1"A1=19<"A<6"?71"<"B16;1="
7<>1="9;=>;7>1=L"

"
)7"41"16H<7Q1"93"3=@?341"41"1HA4;1@;K7"<"639?@@;K7"1"41"<@>1B1"93"?7";7>36B14<"=3"
@<7=;9361" A36>373@;37>3" 1" ?71" H;=H1" @41=3L" .<6" 3E3HA4<N" A161" 41" <@>1B1N" 4<="
;7>36B14<=" !" J?7Q=<7<GN" b" P" ![" J9<D43" <@>1B1G" =3" @<7=;93617" 3O?;B1437>3=L" '<"
H;=H<"<@?663N"A161"41"O?;7>1N"@<7"4<=";7>36B14<="["P"!TL"

• '1="<@>1B1="P"O?;7>1="-,>,/</,7"3=>87"3=>6;@>1H37>3"A6<I;D;91="37"34"@<7>61A?7><"
=3B36<L"
a"

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

• '1=" <@>1B1=" P" O?;7>1=" 7;5<704,7" 3=>87" A36H;>;91=" 37" 34" @<7>61A?7><" =3B36<N"
=;3HA63"O?3"=3"A6<9?:@17"93"2<6H1"3B37>?14L"

• '1" 63C41H37>1@;K7" A63@;=1" 93" 41=" <@>1B1=" P" O?;7>1=" ;7>36H;>37>3=" =3" 6314;:168"
3=A3@;3"A<6"3=A3@;3L"

(>;=,@0<28.7F*7,/8.7*C*8>,8,@0<28.*:<*/.7*;237.2.7*
n1P"@;36>1="7<6H1="@<HS7H37>3"1@3A>191="A<6"41"16H<7Q1"93"3=@?341"O?3"7<"=<7"B;C37>3="
37"41"A<4;2<7Q1"B<@14"@48=;@1L"'1="63A1=1H<="D63B3H37>3F"

!G (>;=,@0<28.L" )7" 34" @<7>61A?7><" =3B36<" 7<" I1P" 7;7CS7" ;7@<7B37;37>3" 37" O?3" 41="
B<@3="=3"@6?@37L")4"@6?:1H;37><"A36H;>3"?>;4;:16"34"63C;=>6<"@<HA43><"93"@191"B<:N"P"
193H8="639?791"37"41";793A37937@;1"H34K9;@1"93"41="B<@3=L"

TG G,/8.7*<2*/,*@07@,*:0><550A2L"*<7B;373"3B;>16"O?3"34"@L"2L"P"34"@<7>61A?7><"=14>37"1"
41"B3:"37"41"H;=H1"9;63@@;K7N"A36<"=;"344<"<@?663N"7;7C?7<"93"4<="=14><="93D36Q1"=36"
=?A36;<6"1"?71"^mL"'1"3X@3A@;K7"1"3=>1"63C41"41"@<7=>;>?P3"34"=14><"93"<@>1B1N"34"@?14"
A?393"@<7=;93616=3"3O?;B1437>3"1"41"63A3>;@;K7"93"?7"=<7;9<"J?7Q=<7<GL"

aG #>,8,@0<28.* :<* /.7* ;237.2.7L" )7" 34" @<7>61A?7><" =3B36<" =3" 3B;>1" 14" H8X;H<" 41"
2<6H1@;K7" 93" ?7Q=<7<=" A<6" H<B;H;37><" 9;63@><" J14" ;C?14" O?3" 37" 41" 16H<7Q1" 93"
3=@?341GN"A36<"7<"I1P"A6<D43H1"37"1D179<7164<="A<6"H<B;H;37><"9;63@><N"=;3HA63"
O?3"=3"=1>;=21C1"41"63C41"17>36;<6L"$=QN"><9<="4<="3E3HA4<="=;C?;37>3="=<7"@<663@><=F"

*
)EL"!L")4"@<7>61A?7><"37"Tm"3=A3@;3"@6?:1"34"@L"2L"9<="B3@3=L"
)EL"TL"."#$%&'()*+%&"P"@<7>61A?7><"37"Tm"3=A3@;3"=14>17"37"41"H;=H1"9;63@@;K7"J^m"
P" bmG" A6<9?@;379<" ?7" @6?:1H;37><L" )=>3" 3E3HA4<" A417>31" ?7" @1=<" 3X>63H<"
A36H;=;D43"93"=14><"93"41="9<="B<@3="37"41"H;=H1"9;63@@;K7L"
)EL"aL")4"16617O?3"93"3=>3"@<7>61A?7><"37"!m"3=A3@;3"A16>3"93"?7"?7Q=<7<"J'1G"O?3"
3="1D179<719<"A<6"=14><"Jam"P"bmG"37"41"H;=H1"9;63@@;K7L"
)EL"^L")4"@<7>61A?7><"37"Tm"3=A3@;3"P"34"!"#$%&'()*+%&"=1437"93"?7"?7Q=<7<"J'1G"A<6"
H<B;H;37><"9;63@><"J^m"P"TmGL"

^"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

G,/8.7*
)7"34" 3=>;4<" B<@14"@48=;@<N"34"H<B;H;37><"93"41=" B<@3="A6<@393"A6;7@;A14H37>3"A<6"C619<="
@<7E?7><=N"A161"1=Q"C1617>;:16"=?"@<7>;7?;919L"/;7"3HD16C<N"34"3HA43<"9<=;2;@19<"93"=14><="
H34K9;@<=" 3=" ;79;=A37=1D43" A161" O?3" 41" H34<9Q1" C173" 37" ;79;B;9?14;919N" B16;3919" P"
3XA63=;B;919L"'<="=14><="O?3"A?3937"323@>?16=3"37"3=>3"3=>;4<"=<7"4<="=;C?;37>3=F"

• ,36@361="H1P<63="P"H37<63=L"
• *?16>1="P"O?;7>1="E?=>1=L"
• /3X>1=" J37" 6314;919N" 34" 3=>;4<" B<@14" @48=;@<" =?343" 4;H;>16=3" 14" 3HA43<" 93" =3X>1="
H37<63="1=@37937>3=N"3B;>179<"41="93H8=GL"
• +@>1B1"E?=>1L"

e?3917"3X@4?;9<=N"A<6">17><N"4<=";7>36B14<="H34K9;@<="1?H37>19<="P"9;=H;7?;9<=N"1=Q"@<H<"
41"H1P<6"A16>3"93"41="=3X>1="P"><91="41="=RA>;H1="3";7>36B14<="=?A36;<63="1"41"<@>1B1L"

(.@-<27,50A2*:<*7,/8.7*
.<6" 5.@-<27,>" ?7" =14><" =3" 37>;3793" 34" 323@><" 93" A63@39364<" P" @<7>;7?164<" H39;17>3" ?7"
H<B;H;37><"37"=37>;9<"@<7>616;<"14"934"=14><L"

"
,17><"34"=14><"93"[m"@<H<"34"93"^m"3=>87"@<HA37=19<="A<6"93417>3"P"A<6"93>68="
H39;17>3"H<B;H;37><="37"=37>;9<"@<7>616;<"14"934"=14><L"
&71"2<6H1"H37<="6;C?6<=1"93"@<HA37=1@;K7"@<7=;=>3"37"6314;:16"?7"H<B;H;37><"A<6"C619<"
@<7E?7><"37"41"H;=H1"9;63@@;K7"934"=14><L"

"
)4" =14><" 93" am" 3=>8" 6;C?6<=1H37>3" @<HA37=19<N" A36<" 34" 93" [m" 3=>8" @<HA37=19<"
A<6"93417>3"H39;17>3"?7"H<B;H;37><"A<6"C619<"@<7E?7><"37"41"H;=H1"9;63@@;K7"
934"=14><L"
)7" @?14O?;36" @1=<N" 3=>1" 63C41" 7<" 3=" 1D=<4?>1N" P" O?391" =?A39;>191" 14" 63=?4>19<" C4<D14"
<D>37;9<L"+263@3H<=N"7<"<D=>17>3N"14C?7<="@6;>36;<="@?14;>1>;B<="19;@;<7143=F"

• '1"@<HA37=1@;K7"93"4<="=14><="93D3"=36">17><"H8="6;C?6<=1"@?17><"H8="1HA4;<"=31"
34"=14><"6314;:19<L"(3"2<6H1"<6;37>1>;B1"<263@3H<="3=><="@6;>36;<=F"
o /;"34"=14><"3="93"amN"19H;>;63H<="41"@<HA37=1@;K7"H39;17>3"H<B;H;37><"93"
=3C?791"37"41"H;=H1"9;63@@;K7N"17>3="P"93=A?R="934"=14><L"
o /;" 34" =14><" 3=" 93" ^m" <" 93" [mN" 19H;>;63H<=" 41" @<HA37=1@;K7" H39;17>3"
H<B;H;37><" 93" =3C?791" 37" 41" H;=H1" 9;63@@;K7" 17>3=" <" 93=A?R=" 934" =14><N"
@<7">14"93"O?3"34"<>6<"3X>63H<"3=>R"@<HA37=19<"93"2<6H1"6;C?6<=1L"
o /;" 34" =14><" 3=" 93" cm" <" 93" bm" @<7B37968" @<HA37=16" 6;C?6<=1H37>3" 34" =14><"
>17><"A<6"93417>3"@<H<"A<6"93>68=L"

["

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

"

• '1"@<HA37=1@;K7"93"4<="=14><="93D3"=36">17><"H8="6;C?6<=1"@?17><"H8="D63B3="=317"
4<=" B14<63=" 1" 4<=" O?3" =3" 1A4;@1L" (3" 3=>3" H<9<N" A<963H<=" =36" H8=" 243X;D43=" @<7"
B14<63="416C<="J639<791="<"=?A36;<63=G"H;37>61="O?3"@<7"41="73C61="=363H<="H8="
3=>6;@><=" JB36" 1A16>19<" G,/8.7* <2* 2<D>,7" 37" 34" 1A16>19<" 939;@19<" 1" 41" >36@361"
3=A3@;3GL"

G,/8.7*5.@-;<78.7*
'1" 3X@3A@;K7"H8=";HA<6>17>3"1"41"63C41"93"@<HA37=1@;K7"93" 4<="=14><="41" @<7=>;>?P37" 4<="
=14><="@<HA?3=><=N"3="93@;6N"9<="=14><="=?@3=;B<="37"34"H;=H<"=37>;9<"O?3"2<6H17"?7"=14><"
A36H;>;9<"J=3X>1="H1P<63="P"H37<63=";7@4?;91=GF"

• e?;7>1"@<HA?3=>1F"5<6H191"A<6"9<="=14><="93">36@361L"
• /3X>1"@<HA?3=>1F"5<6H191"A<6"?7"=14><"93"@?16>1"P"<>6<"93">36@361L"
• +@>1B1"@<HA?3=>1F"5<6H191"A<6"?7"=14><"93"O?;7>1"P"<>6<"93"@?16>1L"

)7"34"3=>;4<"A143=>6;7;17<N"3=><="=14><="=?3437"=;>?16=3"93">14"H<9<"O?3"34"H8="3=>63@I<"=3"
=;>S3"=;3HA63"A<6"37@;H1"934"H8="1HA4;<L"%<"=363H<="H?P"6;C?6<=<="@<7"3=>1"7<6H1"A?3="
<>6<="@<HA<=;><63="J@<H<"+64179<"9;"'1==<G"7<"2?36<7">17"3=>6;@><="@<7"3441L"

"
)7"4<="=14><="@<HA?3=><="93"cmN"41"^m"=3"=;>S1"A<6"93D1E<"93"41"amL")7"4<="93"bmN"41"
[m"=3"=;>S1"A<6"93D1E<"93"41"^mL"

'<=" =14><=" @<HA?3=><=" 93D37" @<HA37=16=3" @<H<" =;" 93" ?7" S7;@<" =14><" =3" >61>161N" @<7" 41"
=14B3919" 93" O?3" 4<=" =14><=" 93" >36@361" O?3" 2<6H17" A16>3" 93" ?7" =14><" @<HA?3=><" 19H;>37"
H?P"D;37"41"@<HA37=1@;K7"A<6"H<B;H;37><"93"=3C?791"37"41"H;=H1"9;63@@;K7L"

"
)7"3=><="9<="3E3HA4<="7<="A36H;>;H<="A63A1616"34"=14><"@<HA?3=><"JA<6"41"A16>3"
37" 41" O?3" =3" A6<9?@3" 34" =14><" 93" >36@361G" H39;17>3" ?7" H<B;H;37><" 93" C619<"
@<7E?7><"37"41"H;=H1"9;63@@;K7"O?3"34"=14><L"
c"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

%<"3=>87"A36H;>;9<=">63="=14><="=?@3=;B<="37"41"H;=H1"9;63@@;K7L"

!"#$%&"'*H4,>0<:,:I*
'1" /"*)0$"&" 37" ?7" A6;7@;A;<" 3=>;4Q=>;@<" 37?7@;19<" A<6" 34" 21H<=<" >3K6;@<" H?=;@14" ,;7@><6;="
J@1L"!^a[\![!!G"O?3"63243E1"?7<"93"4<="B14<63="3=>R>;@<="H8="@161@>36Q=>;@<="93"41"A<4;2<7Q1"
B<@14" @48=;@1L" )=>3" A6;7@;A;<" 3=>8" A63=37>3" 37" 34" @<7>61A?7><" =3B36<" 1" >61BR=" 93" 9<="
@6;>36;<="A6;7@;A143=F""

!G ")4" O?3" 1@<7=3E1" O?3" 34" @<7>61A?7><" 7<" =3" 3=>17O?3" ><-080<2:.* ;2,* .* 4,>0,7*
2.8,7L"

TG )4"O?3"A6<IQD3"6314;:16"=3@?37@;1="<"->.D><70.2<7*@</A:05,7L"

"
)=>3" @<7>61A?7><" 37" am" 3=A3@;3" 3=" ;7=1>;=21@><6;<" 93=93" 34" A?7><" 93" B;=>1" 93" 41"
/"*)0$"&"919<"O?3"=3"H17>;373"3=>17@19<"37"41="7<>1="g/<4\'1\/;i"9?617>3"4<="@@L"
!\aN"6314;:1"?71"A6<C63=;K7"H34K9;@1"37"34"@L"^"P"<>61"1S7"H8="D63B3"37"34"@L"[L"

J.:.7*2,8;>,/<7*C*8>,27-.>8,:.7*
)4" =;=>3H1" H<914" 6371@37>;=>1" @<7>3HA41D1" 41" 3X;=>37@;1" 93" =3;=" H<9<=" 71>?6143=" J=;7"
16H19?61G"P"<>6<="=3;="H<9<=">617=A<6>19<="J@<7"16H19?61"93"51"H1P<6GL"'<="=3;="@.:.7*
2,8;>,/<7"3617F"

!G #<9<"9K6;@<"<"93"-3L""

TG #<9<"26;C;<"<"93"#;L"

aG #<9<"4;9;<"<"93"51L"

^G #<9<"H;X<4;9;<"<"93"/<4L"

[G #<9<"3<4;<"<"93"'1L"

cG #<9<"EK7;@<"<"93"(<L"

'<=" @.:.7* 8>,27-.>8,:.7" =3" <D>37Q17" H39;17>3" 34" >617=A<6>3" 1" ?71" @?16>1" =?A36;<6" 93"
4<="H<9<="71>?6143=N"P"3HA431D17"41"16H19?61"93"51"H1P<6"J@<7"/;!GL")7"41"A68@>;@1N"7<"=3"
3HA4316<7"><9<="4<="H<9<=">617=A<6>19<="A<=;D43=N"=;7<"S7;@1H37>3"3=><="A<@<=F"

f"

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

!G #<9<"9K6;@<">617=A<6>19<L"#<9<"93"/<4"9K6;@<"J@<7"16H19?61"93"51"H1P<6GL"

TG #<9<"EK7;@<">617=A<6>19<L"#<9<"93"51"J@<7"16H19?61"93"51"H1P<6GL"/3">61>1"93"?7"
H<9<"H?P"?>;4;:19<"37"41"RA<@1N"A1619KE;@1H37>3"41">3<6Q1"H?=;@14"6371@37>;=>1"4<"
@<7=;9361D1"@<H<"H<9<"93"51"4;9;<N"37"4?C16"93"51"EK7;@<">617=A<6>19<L"

aG #<9<"3<4;<">617=A<6>19<L"#<9<"93"-3"3<4;<"JH37<6GL"

+,*()'$*"+,$*&"*
)4"=;=>3H1"H<914"6371@37>;=>1"@<7>3HA41D1"34"3HA43<"93"@;36>1="14>361@;<73="1@@;937>143=N"
@<7"9;23637>3="2?7@;<73=F"

• G.78<20:.7L"'<="=<=>37;9<="=3"?>;4;:1D17"@<7"9<="2?7@;<73="9;=>;7>1=F"

o .161" <D>3736" 37" 41=" @1937@;1=" 41=" 7<2709/<7" 16>;2;@;143=" 93" 41=" 7<>1=" -3"
J(<!GN" /<4" J51!G" P" '1" J/<4!GL" %<=<>6<=" ?>;4;:163H<=" 3=>1=" 14>361@;<73="
S7;@1H37>3" 37" 34" A37S4>;H<" @<HA8=" 93" 4<=" @<7>61A?7><=" @<HA?3=><=" 1"
A16>;6"93"!"#$)'()*+)"37"-3"9K6;@<"<"3<4;<N"/<4"9K6;@<"<"H;X<4;9;<"P"'1"3<4;<N"
63=A3@>;B1H37>3L"

o .161"<D>3736",5.>:<7*102,/<7*@,C.><7"37"4<="H<9<="93"-3"9K6;@<"J51!GN"#;"
26;C;<" J/<4!G" P" '1" 3<4;<" J(<!GN" A?3=" 4<=" 1@<693=" H37<63=" =3" @<7=;9361D17"
A<@<"1A><="A161"<@?A16"41"A<=;@;K7"2;714"93"?71"@<HA<=;@;K7L"

.<6" 3=>1=" H;=H1=" 61:<73=N" =368" A<=;D43" ?=16" 34" D3@?196<" A161" <D>3736" 41"
=37=;D43" 16>;2;@;14" 93" (<" P" 34" 1@<693" H1P<6" 2;714" 93" /<4" 37" 4<=" H<9<="
>617=A<6>19<="O?3"4<"73@3=;>37L"

• K<@./<7L" .161" 3B;>16" 41" 2<6H1@;K7" 93" 9;=<717@;1=" 93" >6;><7<" 37>63" 34" 51" P" 34" /;N"
>17><" H34K9;@1=" @<H<" 16HK7;@1=N" H39;17>3" 41" H39;17>3" 41" D3H<4;:1@;K7" 934" /;L"
%<=<>6<=" " A<963H<=" 3HA4316" 37" 7?3=>6<=" @<7>61A?7><=" 34" /;!" 37" @?14O?;36"
H<H37><N"A161"3B;>16"41"2<6H1@;K7"93"9;@I<=">6;><7<=L")7"4<="H<9<=">617=A<6>19<="
A<968"3HA4316=3"34"#;!"1@@;937>14"A161"3B;>16"41"2<6H1@;K7"934">6;><7<"37>63"34"#;"P"
34"/;!L"

"
)EL" !L" )=>3" @<7>61A?7><" 37" Tm" 3=A3@;3" ?>;4;:1" 34" 51o" A161" <D>3736" 41" =37=;D43"
73@3=16;1"A161"41"@1937@;1"2;714"37"/<4L""
)EL" TL" )7" 3=>3" @<7>61A?7><" 1" a" B<@3=N" 34" /<4o"A6<A<6@;<71"41"am"H1P<6"73@3=16;1"
A161"41"@1937@;1"2;714"37"#;L"

b"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

"
)EL" aL" )=>3" @<7>61A?7><" 37" Tm"3=A3@;3" ?>;4;:1" 34" /;!"A161"2<6H16"?71"@<7=<717@;1"
A3623@>1"@<7"34"51"934"@L"2L""
)EL" ^L" )=>3" @<7>61A?7><" 37" Tm" 3=A3@;3" ?>;4;:1" 34" /;!" A161" 3B;>16" O?3" =3" 2<6H3" ?7"
>6;><7<"37"34"=14><"H34K9;@<"37>63"34"51"P"34"/;L"

'1" H1P<6" A16>3" 93" 3=>1=" 14>361@;<73=" 7<" 3617" 3=@6;>1=" A<6" 4<=" @<HA<=;><63=" 37" =?="
A16>;>?61=N" =;7<" O?3" 3617" 1A4;@191=" 9;63@>1H37>3" A<6" 4<=" @17><63=L" /3" 937<H;71" ()'$*"+
,$*&"" 14" =;=>3H1" 93" 7<6H1=" 93" >619;@;K7" <614" O?3" 63C?41D17" 3=>1" A68@>;@1N" P" O?3" I3H<="
63=?H;9<"H8="166;D1L""

.<6"=?"A16>3N"34"14?H7<"93D368"?>;4;:16"37"=?="3E36@;@;<="4<="=<=>37;9<="S7;@1H37>3"37"41="
@48?=?41=" P" J1" A16>;6" 93" 41=" >63=" B<@3=G" A161" I1@36" H1P<63=" 4<=" 1@<693=" 2;7143=N" 1=Q" @<H<"
A<968"I1@36"34"?=<"O?3"@<7B37C1"934"/;!"J<N"37"@1=<"93"?>;4;:16"?7"H<9<">617=A<6>19<N"34"
#;!G"A161"3B;>16"41"2<6H1@;K7"93">6;><7<="16HK7;@<="<"H34K9;@<=L""

*<7B;373" 63@<6916" 1O?Q" O?3" =3" A?393" 3HA4316" 34" 8>08.2.* ,>@A205." =;3HA63" O?3" =3" =31"
@<7B37;37>3H37>3">61>19<"@<H<"9;=<717@;1N"P"O?3"41"?>;4;:1@;K7"934"/;!"A?393"=<4?@;<716N"
A36<">1HD;R7"5><,>*8>08.2.7L"

"
)7" 34" @<7>61A?7><" 37" Tm" 3=A3@;3" 934" A6;H36" 3E3HA4<N" 41" [m" 9;=H;7?;91" 3=>8"
@<663@>1H37>3">61>191"@<H<"J9;=<717@;1G"7<>1"93"A1=<L")7"34"@<7>61A?7><"37"Tm"
3=A3@;3"934"=3C?79<"3E3HA4<N"34"/;!"34;H;716Q1"34">6;><7<"16HK7;@<"@<7"34"51N"A36<"
1"@1HD;<"@6316Q1"?7">6;><7<"H34K9;@<"@<7"34"#;"O?3"43"=;C?3L"

]"

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

(%"#$LM'"#%*L*&%G*N%(BG*
)7" 34" @<7>61A?7><" 1" 9<=" B<@3=N" 93D363H<=" @<HA<736" ?7" @<7>61A?7><" =?A36;<6" <" ;7236;<6"
A161" ?7" !"#$%&' ()*+%&" 919<L" )7" A6;H36" 4?C16N" <263@3H<=" 14C?71=" 63C41=" 93" @<79?@@;K7"
@<H?73="1"41="@;7@<"3=A3@;3=L"

'237.2.7*
/14B<" 37" 41" A6;H361" P" 41" S4>;H1" 7<>1" 934" @<7>61A?7><N" 3=>8" A6<I;D;91" 41" 2<6H1@;K7" 93"
?7Q=<7<="37"34";7;@;<"934"@<HA8=N"=;7"3HD16C<"A?393"2<6H16=3"37"@?14O?;361"93"41="A16>3="
9RD;43=L""

"
)4"@<7>61A?7><"37"Tm"3=A3@;3"934"A6;H36"3E3HA4<"@<H3>3"?7"?7Q=<7<"37"41"A16>3"
2?36>3"934"@<HA8=L")4"?7Q=<7<"934"=3C?79<"3E3HA4<"3="@<663@><"A?3="=3"A6<9?@3"
37"?71"261@@;K7"9RD;4"934"@<HA8=L""

%58,4,7*C*E;028,7*:0><58,7*
'1" 2<6H1@;K7" 93" <@>1B1=" P" O?;7>1=" A<6" H<B;H;37><" 9;63@><" 3=>8" 3=>6;@>1H37>3" A6<I;D;91N"
A?3=" 41" A<D63:1" 16HK7;@1" 93" 3=><=" ;7>36B14<=" O?391" H8=" 37" 3B;937@;1" =;" 34" ;7>36B14<" =3"
A6<9?@3"A<6"H<B;H;37><"9;63@><"O?3"=;"=3"A6<9?E361"A<6"H<B;H;37><"@<7>616;<"?"<D4;@?<L"

"
)4" @<7>61A?7><" 37" am" 3=A3@;3" 14@17:1" 41" <@>1B1" A<6" H<B;H;37><" 9;63@><"
1=@37937>3L" )4" @<7>61A?7><" 37" Tm" 3=A3@;3" 14@17:1" 41" O?;7>1" A<6" H<B;H;37><"
9;63@><"93=@37937>3L"

!2050.*C*102,/*:</*5.28>,-;28.*
'1" A6;H361" P" 41" S4>;H1" 7<>1" 934" @<7>61A?7><" 93D37" 2<6H16" =;3HA63" ?71" @<7=<717@;1"
A3623@>1" @<7" 34" !"#$%&' ()*+%&L" /;" 34" @<7>61A?7><" 3=" =?A36;<6N" A<968" =36" ?7" ?7Q=<7<N" ?71"
O?;7>1" <" ?71" <@>1B1N" A36<" =;" 3=" ;7236;<6N" =K4<" A<968" =36" ?7" ?7Q=<7<" <" ?71" <@>1B1N" A?3=" 41"
O?;7>1" 14>3616Q1" 34" H<9<" 934" !"#$%&' ()*+%&L" *?179<" 34" @<7>61A?7><" 2;714;:1" 37" ?7Q=<7<" ?"
<@>1B1N"=?"A37S4>;H1"7<>1"93D368"=36"41"=37=;D43"934"H<9<"J344<"3="A<=;D43"919<"O?3N"A<6"

!`"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

@<7B37@;K7N"41"A37S4>;H1"7<>1"93"4<="!"#$)'()*+)"3HA4319<="37"34"@<7>61A?7><"=3B36<"=?343"
=36"34"Tp"C619<"934"H<9<GL"

"
)=>3" @<7>61A?7><" ;7236;<6" 37" Tm" 3=A3@;3" 37" H<9<" 9K6;@<" =3" ;7;@;1" 37" ?7Q=<7<" P"
1@1D1"37"?7Q=<7<"14@17:19<"93=93"41"=37=;D43"J(<!GL"

"
)=>3" @<7>61A?7><" =?A36;<6" 37" am" 3=A3@;3" 37" H<9<" 26;C;<" =3" ;7;@;1" 37" <@>1B1" P"
1@1D1" 37" O?;7>1" J!TmG" 14@17:191" A<6" H<B;H;37><" 93" =3C?791" 1=@37937>3L" )4"
H<9<"26;C;<"3="34"S7;@<"O?3"7<"3HA431"41"=37=;D43"A161"443C16"1"41"bm"A?3="916Q1"
4?C16"1"?7";7>36B14<"?4>61"9;=<717>3"93"cm"1?H37>191L"

"
)=>3"@<7>61A?7><";7236;<6"37"^m"3=A3@;3"37"H<9<"4;9;<"=3";7;@;1"37"<@>1B1"P"1@1D1"
37"<@>1B1"14@17:191"93=93"41"=37=;D43"J#;GL"

"
)=>3"@<7>61A?7><"=?A36;<6"37"!m"3=A3@;3"37"H<9<"H;X<4;9;<"=3";7;@;1"37"O?;7>1"P"
1@1D1"37"<@>1B1"14@17:191"93=93"41"=37=;D43"J51!GL"

(>08<>0.7*-.70804.7*:<*><,/0=,50A2*-,>,*8.:,7*/,7*<7-<50<7*
'1"6314;:1@;K7"93"?7"D?37"@<7>61A?7><"7<"3X;C3"S7;@1H37>3"34"@?HA4;H;37><"93"41="63C41=N"
J@6;>36;<=" #01"$)/2&" 93" 6314;:1@;K7G" =;7<" >1HD;R7" 34" 14@17@3" 93" ?71" =<4?@;K7" =1>;=21@><6;1"
93=93"34"A?7><"93"B;=>1"H?=;@14L".161"344<N"=3q14163H<="14C?7<="@6;>36;<="93"6314;:1@;K7"O?3"
A?3937"1P?9167<="1"<D>3736"?71"=<4?@;K7"H8=";7>363=17>3"P"H?=;@14L"

!!"

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

"
#+0Z#Z)%,+"*+%,-$-Z+"
)4"@.40@0<28.*5.28>,>0."@<7>6;D?P3"1"@<7=3C?;6";793A37937@;1"93"7?3=>6<"@<7>61A?7><L"
%<"3="73@3=16;<"J7;"63@<H3791D43G"O?3"34"@<7>61A?7><"A6<@391"=;3HA63"A<6"H<B;H;37><"
@<7>616;<"@<7"63=A3@><"14"@L"2LN"A36<"A?393"1P?9167<="1"><H16"14C?71="93@;=;<73=L"

"
)=>3"@<7>61A?7><"37"Tm"3=A3@;3"A6<@393"A<6"H<B;H;37><"@<7>616;<"@<7"63=A3@><"
14"@L"2L"37"@191"@<HA8=L"

)4" H<B;H;37><" @<7>616;<" J<N" 37" =?" 9323@><N" 34" H<B;H;37><" A<6" C619<" @<7E?7><G" 93D3"
>3736=3" 37" @<7=;9361@;K7" 144Q" 9<793" 34" @L" 2L" 6314;:1" ?7" =14><N" 3=A3@;14H37>3" @?17><" H8="
1HA4;<"=31N"A161"1P?916"1"H17>3736"41"@<7>;7?;919"934"@<7E?7><L"

"
)=>3" @<7>61A?7><" 37" !m" 3=A3@;3" 1P?91" 1" H17>3736" 41" @<7>;7?;919" 934" @<7E?7><"
H39;17>3"34"3HA43<"934"H<B;H;37><"@<7>616;<"P"4<="C619<="@<7E?7><="144Q"9<793"
=3"A6<9?@37"=14><="37"34"@L"2L"

#+0Z#Z)%,+"#+%r,+%+".+-"M-$(+"*+%_&%,+"
#;37>61=" 3B;>3H<=" O?3" 34" @<7>61A?7><" @<7=;=>1" S7;@1H37>3" 37" ?71" 4Q731" 1=@37937>3" <"
93=@37937>3N" =368" ;7>363=17>3" 1A6<B3@I16" 1O?R44<=" >61H<=" 37" 4<=" O?3" =31" A<=;D43" >61:16"
?71"C617"/32<,*@.2A8.2,*-.>*D>,:.7*5.2O;28.7N"=31"1=@37937>3"<"93=@37937>3L"

"
)=>3" @<7>61A?7><" 37" Tm" 3=A3@;3" 6314;:1" ?7" H<B;H;37><" H<7K><7<" 93=@37937>3"
A<6"C619<"@<7E?7><"37>63"4<="@@L"!\[L"
"

!T"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

M-$%"/$',+"s"*-&t$#Z)%,+"
$?7O?3" ;7>37>163H<=" O?3" 7?3=>6<" @<7>61A?7><" A6<@391" H1P<6;>16;1H37>3" A<6" C619<="
@<7E?7><=N"34"3HA43<"3=>61>RC;@<"93"?7"D>,2*7,/8."J93"[mN"cm"1=@37937>3"<N"H3E<6"1S7N"93"
bmGN" @<7" <" =;7" @6?:1H;37><N" A?393" 1P?91643" 1" C1716" B?34<" H34K9;@<" P" H3E<616" =?"
3XA63=;B;919L"

"
)=>3" @<7>61A?7><" 37" Tm" 3=A3@;3" 6314;:1" ?7" 3XA63=;B<" =14><" 93" bm" 37" 34" @L" a" O?3N"
193H8=N"A6<9?@3"?7"@6?:1H;37><"@<7"34"@L"2L"

*'d#$Y"Js"$%,Z*'d#$YG"
)="H?P";HA<6>17>3"O?3" 7?3=>6<"@<7>61A?7><" 14@17@3"=?"@4QH1X"?71"=<41"B3:N"1"A<936"=36"
9?617>3" =?" =3C?79<" >36@;<" <" A<@<" 17>3=" 934" 2;714" J7<" 37" 34" 2;714GL" )4" 5/3@,P" 93" ?7"
@<7>61A?7><"=?A36;<6"=368"=?"7<>1"H8="1C?91N"H;37>61="O?3"?7"@<7>61A?7><"93=>1@168"H8="
=?" 7<>1" H8=" C61B3" J>1HD;R7" 441H191" ,2805/3@,PGL" .<93H<=" ;C?14H37>3" @<7=>6?;6"
@?14O?;361" 93" 7?3=>6<=" @<7>61A?7><=" 93" H<9<" O?3" A<=317" >17><" ?7" @4QH1X" @<H<" ?7"
17>;@4QH1XL""

"

(3" 3=A3@;14" @1>3C<6Q1" 16>Q=>;@1" 63=?4>1" 41" @<7=3@?@;K7" C619?14" 93" ?7" @4QH1XN" H39;17>3" 34"
37@19371H;37><"A6<C63=;B<"93"@4QH1X"1S7"H8=";7>37=<=L"

"

!a"

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

"
)=>3"@<7>61A?7><"37"am"3=A3@;3"14@17:1"A6<B;=;<714H37>3"?7"@4QH1X"37"34"51"934"@L"
aN"O?3"4?3C<"3="=?A3619<"37"34"/<4"934"@L"c"P"3="B?34><"1"=?A3616"37"34"/;!"934"@L"cL"

*<7B;373" 3B;>16" 1" ><91" @<=>1" 34" 1@@3=<" 63A3>;9<" 1" ?71" 7<>1" 4QH;>3N" 41" @?14" A63=37>168" 41"
1A16;37@;1" 93" ?7" @4QH1X" 63A3>;91H37>3" ;7=1>;=23@I<" J@<H<" =;" 41" H34<9Q1" 9;3=3" @1D3:1:<="
@<7>61"?7">3@I<";7B;=;D43GL"

"
)=>3" @<7>61A?7><" 37" Tm" 3=A3@;3" A163@3" 3=>634416=3" @<7>61" ?7" >3@I<" ;7B;=;D43"
=;>?19<"37"41"7<>1"'1L"
"

"

!^"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

M$!JB$L*BGMB(!B*
'1="7<6H1="3=A3@Q2;@1="93"41"!m"3=A3@;3"=<7"41="=;C?;37>3=F"

!G )4" @<7>61A?7><" 93D3" 3=>16" 2<6H19<" S7;@1H37>3" A<6" @<7=<717@;1=" J7<" 3=>87"
A36H;>;91="41="7<>1="93"A1=<"7;"4<="24<63<=GL"

TG '<=" ?7Q=<7<=" =K4<" A?3937" A6<9?@;6=3" 37" 41" A6;H361" P" 41" S4>;H1" 7<>1" 934"
@<7>61A?7><L"

aG )4"@L"2L"P"37"@<7>61A?7><"7<"93D36Q17"H<B36=3"9?617>3"H?@I<">;3HA<"37">36@361="<"
37"=3X>1="A1614341=N"A161"7<"93=>6?;6"41";793A37937@;1"93"41="B<@3=L"

^G )X@3A@;<714H37>3"34"@<7>61A?7><"A<968"63A3>;6"J4;C16G"?71"7<>1L"

(>08<>0.7*-.70804.7*:<*><,/0=,50A2*
*+%,-$.+/Z*Zr%"
&7" @1=<" 3=A3@;14H37>3" 63@<H3791D43" 93" H<B;H;37><" @<7>616;<" 1A4;@1D43" 37" 41" A6;H361"
3=A3@;3"4<"@<7=>;>?P3"41"5.28>,-.7050A2N"<"H<B;H;37><"@<7>616;<"A<6"C619<"@<7E?7><"O?3"
3741:1"9<=">36@361="37>63"=QL"

"
)=>3"@<7>61A?7><"37"!m"3=A3@;3"6314;:1"?71"@<7>61A<=;@;K7"37"4<="@@L"T\^"@<7"41="
7<>1="(<\'1"934"@L"2L"

,)-*)-$/"s"/)Y,$/".$-$')'$/"
'1=" >36@361=" P" 41=" =3X>1=" =<7" 4<=" ;7>36B14<=" @<7=<717>3=" H8=" 6;@<=N" P" A<6" 344<" @<7B;373"
21B<63@36"=?"?=<L"/;7"3HD16C<N"H17>3736"?7"H<B;H;37><"A161434<"J93">36@361"<"93"=3X>1G"
1@1D16Q1" @<7" 41" ;793A37937@;1" 93" 41=" B<@3=L" &7<" 93" =?=" H3E<63=" 3HA43<=" @<7=;=>3" 37"
@<7=>6?;6" 4Q731=" A<6" C619<=" @<7E?7><=" O?3" @<HA37=37" 4<=" =14><=" 934" @L" 2L" H39;17>3" 41"
14>36717@;1"93";7>36B14<="93">36@361"J<"93"!`G"P"93"=3X>1L"

"
)=>3"@<7>61A?7><"=?1B;:1N"H39;17>3"34"@1HD;<"93"H<B;H;37><"A161434<"93"=3X>1="
1">36@361="J9R@;H1=G"34"=14><"934"@L"2L"93"4<="@@L"a\^"J#;"u"'1G"1"41"B3:"O?3"A36H;>3"
O?3"34"@L"2L"=?1B;@3"93";9R7>;@1"2<6H1"34"=14><"93"4<="@@L"!\T"J#;"u"'1GL"

!["

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

GBQ'"&L*BGMB(!B*
'1="7<6H1="3=A3@Q2;@1="93"41"Tm"3=A3@;3"=<7"41="=;C?;37>3=F"

!G '1" 261@@;K7" 2?36>3" 934" @<HA8=" J"*&)&G" 934" @<7>61A?7><" 93D3" =36" =;3HA63" ?71"
@<7=<717@;1L"

TG '1"261@@;K7"9RD;4"934"@<HA8="J$30&)&G"934"@<7>61A?7><"A?393"=36"?71"@<7=<717@;1"<"
?71"9;=<717@;1N"A36<"S7;@1H37>3"@<H<"2.8,*:<*-,7.L"

aG '<=" ;237.2.7" A?3937" 3HA4316=3" 37" 34" A6;H36" P" S4>;H<" @<HA8=" 934" @<7>61A?7><N"
A36<"37"34"63=><"93"@<HA1=3="7<"A<9687"3HA4316=3"37"34""*&)&N"A36<"=Q"37"41"$30&)&L"

^G '1=" .58,4,7* C* E;028,7* 028<>@08<28<7" A?3937" 3HA4316=3" 3B37>?14H37>3N" A36<"

7?7@1"93"2<6H1"@<7>;7?1"PN"37"C373614N">61>163H<="93"3B;>1641=L"

[G /3"A?393";7;@;16"34"@<7>61A?7><"37"41"$30&)&"934"A6;H36"@<HA8=N"93E179<"?7"=;437@;<"
93"D417@1"37"34""*&)&L"

cG .<93H<="<A>16"A<6"?>;4;:16"?71"639<791"37"34"A37S4>;H<"@<HA8="J@<7"41"=37=;D43"
934"H<9<GL"

+,*2.8,*:<*-,7.*
'1" 7<>1" 93" A1=<" 3=" ?71" 9;=<717@;1" O?3" 3741:1" A<6" C619<" @<7E?7><" 9<=" @<7=<717@;1=" 1"
9;=>17@;1" 93" >36@361L" )7" 41" =3C?791" 3=A3@;3N" 41" 7<>1" 93" A1=<" =K4<" A?393" =;>?16=3" 37" 41"
261@@;K7"9RD;4"934"@<HA8=L"

"
)EL"aL"(37<H;7163H<="V7<>1"93"A1=<"@<7=<717>3W"1"41"7<>1"O?3"@?HA43"41"2?7@;K7"
H34K9;@1"93"41"7<>1"93"A1=<"A36<"7<"3=N"37"=37>;9<"3=>6;@><N"9;=<717>3L"

)7"3=>1"3=A3@;3"34"3=>?9;17>3"93D3"@?;916"@<H3>36"14C?7<="366<63=">QA;@<=N"@<H<"41"7<>1"93"
A1=<"37"261@@;K7"2?36>3"J3EL"!GN"34"24<63<"u7<"A36H;>;9<"37"41"=3C?791"3=A3@;3u"J3EL"TG"<"41"
443C191"<"34"1D179<7<"93"41"9;=<717@;1"A<6"=14><"J3EL"aGL"

"

!c"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

(>08<>0.7*-.70804.7*:<*><,/0=,50A2*
/$',+/"s"*$#UZ+/"()"(Z-)**Zr%"
)7"C373614N"P"=;7"@<7=>;>?;6"?71"63C41N"@<7=>;>?P3" ?7"D?37"@6;>36;<"34"@1HD;<"93"9;63@@;K7"
H34K9;@1"93=A?R="93"I1D36"1@<H3>;9<"?7"=14><L"

"
'1";7>6<9?@@;K7"934"=14><"93"am"3=";9K731"37"1HD<=" 3E3HA4<=F" 37" 34" A6;H36<N" =3"
=;>S1" VA<6" 93D1E<W" 934" H<B;H;37><" 93" =3C?791" J/;\'1G" P" 193H8=" @1HD;1" 93"
9;63@@;K7"1"@<7>;7?1@;K7L")7"34"=3C?79<N"1?7O?3"34"=14><"=3"=;>S1"VA<6"37@;H1W"934"
H<B;H;37><"93"=3C?791"J/<4\'1GN"@1HD;1"93"9;63@@;K7"1"@<7>;7?1@;K7L"

'<" O?3" I1P" O?3" 3B;>16" 1" ><91" @<=>1" 3=" 41" 2<6H1@;K7" 93" 4Q731=" H<7K><71=" J1=@37937>3=" P"
93=@37937>3=G" 37" 41=" O?3" 4<=" =14><=" =3" ;7>36@1437" 4;D63H37>3" 37>63" 4<=" H<B;H;37><=" 93"
=3C?791L"

"
)=>3"@<7>61A?7><"1=@37=<"H34K9;@<"3="H?P";7=1>;=21@><6;<"A<6"41"9;=@<7>;7?;919"
93"41"4Q731"A6<B<@191"A<6"41";7=36@;K7"934"=14><"93">36@361"J/<4\/;GL"

.&)%,)"()"/)M&%($/"
'<=" =14><=" A?3937" @<7>6;D?;6" 1" A6<A<6@;<716" 9;63@@;K7" P" @<7>;7?;919" 1" 41" 4Q731" H34K9;@1N"
@?179<"2<6H17"-;<28<7*:<*7<D;2:,7N"3="93@;6N"3741@3=";7>36H;>37>3="93"=3C?791L"

"
)4" 9<D43" =14><" J(<\/<4\-3G" 7<" ;HA;93" 41" A36@3A@;K7" 93" 41" 4Q731" H34K9;@1"
1=@37937>3"'1\/;\(<\-3N"=;7<"O?3";7@4?=<"41"A6<A?4=1"@<7"H8="2?36:1L"
"

!f"

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

*$#UZ+"()"-)MZ/,-+"
'<=" =14><=" A?3937" =36B;6" A161" A6<B<@16" 5,@90.7* :<* ><D078>." =14?91D43=" P" 3XA63=;B<=N"
=;3HA63"O?3"3=>R7"93D;91H37>3"@<HA37=19<=L"

"
)4" =14><" 93" <@>1B1" A36H;>3" 14" @<7>61A?7><" A1=16" 934" 63C;=>6<" C61B3" 14" H39;<" 93"
2<6H1" ;7=>17>8731L" '1=" O?;7>1=" =?@3=;B1=" O?3" =3" 2<6H17" 37" 34" =14><" =<7" D?371=N"
A?3="=3"2<6H17"A<6"H<B;H;37><"@<7>616;<L"

!b"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

#B$(B$L*BGMB(!B*
'1="7<6H1="3=A3@Q2;@1="93"41"am"3=A3@;3"=<7"41="=;C?;37>3=F"

!G '1="73C61="!"P"a"93"@191"@<HA8="J2?36>3=G"93D37"=36"=;3HA63"@<7=<717@;1=L"

TG '1="73C61="T"P"^"93"@191"@<HA8="J9RD;43=G"A?3937"=36"@<7=<717@;1="<"9;=<717@;1=L"
/;" =<7" 9;=<717@;1=N" A?3937" 1@<C36=3" 1" 14C?71" 93" 3=>1=" >63=" 2K6H?41=F" 41" 2.8,* :<*
-,7.N"34"1/.><."<"41"5,@90,8,L"

aG '<=" ;237.2.7" A?3937" 3HA4316=3" 37" 34" A6;H36" P" S4>;H<" @<HA8=" 934" @<7>61A?7><N"
A36<" 37" 34" 63=><" 93" @<HA1=3=" 7<" A<9687" 3HA4316=3" 37" 41" A6;H361" 73C61" 934"
@<HA8=N"1?7O?3"=Q"37"14C?71"93"41="63=>17>3=L"

^G '1=" .58,4,7* C* E;028,7* 028<>@08<28<7" A?3937" 3HA4316=3" 3B37>?14H37>3N" A36<"

93D37"9;=>16"?71="93"<>61="14"H37<="9<="73C61=L""

[G /3"A?393";7;@;16"34"@<7>61A?7><N"=;"=3"93=31N"37"@?14O?;36"73C61"934"A6;H36"@<HA8=N"
3=@6;D;379<"4<="=;437@;<="73@3=16;<="P"2<6H179<"=;3HA63"?71"@<7=<717@;1"A3623@>1L"

cG .<93H<="<A>16"A<6"?>;4;:16"?71"639<791"37"34"A37S4>;H<"@<HA8="J@<7"41"=37=;D43"
934"H<9<GL"

".8,*:<*-,7.F*1/.><.*C*5,@90,8,*
.<6" 2.8,* :<* -,7." =3" 37>;3793" ?71" 9;=<717@;1" O?3" 3741:1" A<6" C619<" @<7E?7><" 9<="
@<7=<717@;1="1"9;=>17@;1"93">36@361L")=";9R7>;@1"1"41"93"41"=3C?791"3=A3@;3N"P"93D3"=;>?16=3"
37"261@@;K7"9RD;4"934"@<HA8="J73C61"T"K"^GL"'1"7<>1"93"A1=<"3="?71"9;=<717@;1"2?791H37>14"
37"3=>1"3=A3@;3N"A?3="3="41"O?3"H3E<6"@<7>6;D?P3"14"H<B;H;37><"P"9;63@@;K7"93"41"H34<9Q1L"

.<6" 1/.><." =3" 37>;3793" ?71" 9;=<717@;1" O?3" 19<671" A<6" C619<" @<7E?7><" ?71" @<7=<717@;1"
;7HKB;4L" $4" ;C?14" O?3" 41" 7<>1" 93" A1=<N" 93D3" =;>?16=3" S7;@1H37>3" 37" 261@@;K7" 9RD;4" 934"
@<HA8=L""

.<6"5,@90,8,"=3"37>;3793"?71"9;=<717@;1";7=36>1"37"?71"2K6H?41"H34K9;@1"2;E1"93"@?1>6<"
7<>1=" JB36" 3E3HA4<=GL" '1" @1HD;1>1" A6<@393" 93" ?71" @<7=<717@;1" A<6" C619<" @<7E?7><"
93=@37937>3" P" 63=?34B3" 37" <>61" @<7=<717@;1" 1" 9;=>17@;1" 93" >36@361" ;7236;<6L" (;@I1"
9;=<717@;1" 93D3" A6<@3936" 93=A?R=" A<6" C619<" @<7E?7><" 1=@37937>3N" A161" @<HA43>16" 41"
2K6H?41"2;E1"93"@?1>6<"7<>1=L"

"

!]"

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

"
)EL" !L" )=>3" @<7>61A?7><" H?3=>61" ?7" 3HA43<" ;9K73<" 934" 24<63<N" @<H<" A?7><" 93"
;7243X;K7"37"?7"@1HD;<"93"9;63@@;K7"934"24?E<"H34K9;@<L"
)EL"T\aL")4"A6;H36"@<7>61A?7><"H?3=>61"41"2K6H?41"@1HD;1>1"=;>?191"937>6<"93"?7"
@<HA8=N"H;37>61="O?3"34"934"3EL"a"41"H?3=>61"=;>?191"37>63"9<="@<HA1=3=L""
)EL"^L")=>3"@<7>61A?7><"H?3=>61"?7"24<63<"=?A36;<6N"@<663@><"A36<"7<"93H1=;19<"
1A63@;19<"A<6"4<="A<4;2<7;=>1="@48=;@<=L"

)7"3=>1"3=A3@;3"34"3=>?9;17>3"93D3"@?;916"@<H3>36"4<="366<63=">QA;@<="93"41"=3C?791"3=A3@;3"
J@<H<" 41" 7<>1" 93" A1=<" 37" 261@@;K7" 2?36>3" <" 34" 1D179<7<" 93" 41" 9;=<717@;1" A<6" =14><N" 1"
3X@3A@;K7"93"41"@1HD;1>1GL"$93H8="93D368"3B;>16"O?3"4<="24<63<="93>37C17"34"@<7>61A?7><"
37"4?C16"93"3HD3443@364<"<"16>;@?4164<L"'<="=;C?;37>3="3E3HA4<="J3=A3@;14H37>3"34"A6;H36<G"
=<7"H?3=>61="93"?7"><6A3"3HA43<"934"24<63<L"

"
'1"A6;H361"7<>1"'1"934"=3C?79<"3E3HA4<"3="?7"V24<63<"@<7=<717>3WN"A?3="@?HA43"
41"2?7@;K7"H34K9;@1"934"24<63<"A36<"7<"3=N"37"=37>;9<"3=>6;@><N"?71"9;=<717@;1L"

G,/8.7*<2*2<D>,7*
'1"B?47361D;4;919"93"41="H16@I1="93"73C61="1"=?26;6"9;=@<7>;7?;9193="3X;C3"?7"@<7>6<4"H8="
6;C?6<=<"93"4<="=14><=L".<93H<="C373614;:16"41="=;C?;37>3="7<6H1="A161"=?">61>1H;37><F"

1G '<=" =14><=" @<HA?3=><=" J9<=" =14><=" =?@3=;B<=" 37" 41" H;=H1" 9;63@@;K7G" 3=>87"
A6<I;D;9<=L"
DG %<" =3" A36H;>3" 6314;:16" =14><=" 1=@37937>3=" 93=93" 73C61=" 2?36>3=" J41" !m" P" 41" am" 934"
@<HA8=GL"
@G '<="=14><="93D37"=36"3=>6;@>1H37>3"@<HA37=19<=L"'1"S7;@1"3X@3A@;K7"1"3=>1"7<6H1"
41"@<7=>;>?P3"41"2K6H?41"@<7=>;>?;91"A<6"34"=14><"93"am"J<N"93"2<6H1";7263@?37>3N"34"
93"^pG"P"34"C619<"@<7E?7><"37"41"H;=H1"9;63@@;K7"934"=14><N"=;3HA63"O?3"34"=14><"=3"
=;>S3"A<6"93D1E<"934"H<B;H;37><"93"=3C?791"J=14><"93"@1HD;1>1GL"

)=>1=" 7<6H1=" 63=>6;7C37" 7<>1D43H37>3" 41=" A<=;D;4;9193=" 93" 323@>?16" =14><=" 9?617>3" 41="
H16@I1=" 93" 73C61=L" '1=" =;C?;37>3=" 2K6H?41=" H34K9;@1=" 93" 73C61=" @<7" =14><=" 63=?4>17"
A3623@>1H37>3";9;<H8>;@1=L"

T`"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

"
)4" =14><" ;7236;<6" 93=93" 73C61" 2?36>3" E?=>;2;@1" 41=" 2K6H?41=" !" 14" !!L" )4" =14><" 93"
@1HD;1>1"E?=>;2;@1"41"7<"@<HA37=1@;K7"3=>6;@>1"93"4<="=14><="37"41="2K6H?41="aN"[N"
bN"!!"P"!TL"'<="=14><="1=@37937>3="=<7"A<=;D43="S7;@1H37>3"93=93"73C61="9RD;43=N"
@<H<"37"41="2K6H?41="^N"[N"cN"fN"bN"!`"P"!TL"

'1="=;C?;37>3=N"37"@1HD;<N"63=?4>17"3X>61q1="14"3=>;4<"A143=>6;7;17<F"

"
'1=" 2K6H?41=" !" P" T" 6314;:17" =14><=" @<HA?3=><=L" '1=" 2K6H?41=" !N" a" P" ^" ;7@4?P37"
=14><=" 93=93" 73C61" 2?36>3L" '1=" 2K6H?41=" [" P" c" JA<6" 7<" 7<HD616" 41" !" P" 41" TG" 7<"
@<HA37=17"4<="=14><="193@?191H37>3L"
"
"

T!"

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

('L$#L*BGMB(!B*
'1="7<6H1="3=A3@Q2;@1="93"41"^m"3=A3@;3"=<7"41="=;C?;37>3=F"

!G )7" 41=" =Q7@<A1=" 93" 639<791N" 41" A6;H361" 261@@;K7" J=;>?191" 37" 41" 261@@;K7" 9RD;4" 934"
@<HA8=G"=368"=;3HA63"@<7=<717>3N"H;37>61="O?3"41"=3C?791"261@@;K7"J=;>?191"37"41"
261@@;K7" 2?36>3G" A<968" =36" @<7=<717>3" <" 9;=<717>3N" =;3HA63" O?3" 63=?34B1"
93=@37937>3H37>3"A<6"C619<"@<7E?7><"@<H<"><8,>:.L"

"
'1" A6;H361" =Q7@<A1" 3=" 9;=<717>3N" A<6" 4<" >17><" @<7=>;>?P3" ?7" 63>169<" P" 93D3"
63=<4B36"93=@37937>3H37>3"A<6"C619<"@<7E?7><"@<H<">14L"'1"=3C?791"=Q7@<A1"3="
@<7=<717>3N"A<6"4<">17><"7<">;373"<D4;C1@;K7"93"63=<4B36"P"A?393"323@>?16"=14><=L"

TG /<4<"=3"19H;>37"4<="63>169<="O?3"63=?34B17"37"@<7=<717@;1=";HA3623@>1="J>36@361="
P" =3X>1=" H1P<63=" <" H37<63=GL" .<6" 344<N" 4<=" S7;@<=" 63>169<=" A61@>;@1D43=" 37" 4<="
@<7>61A?7><=" =?A36;<63=" =<7" 4<=" ><8,>:.7* RST* C* USVN" H;37>61=" O?3" 34" S7;@<"
A61@>;@1D43"37"4<="@<7>61A?7><=";7236;<63="J1"7<"=36"O?3"=3"@6?@37"41="B<@3=G"3="34"
><8,>:.*WSVL"

"

aG $" B3@3=" 7<" 3=" A<=;D43" H17>3736" 41=" =Q7@<A1=" P" @<7B37968" A1=16=3"
H<H37>8731H37>3"1"41"Tm"3=A3@;3"JD417@1=GL"(?617>3"3=><="D63B3="A1=1E3="63C;687"
41=" 7<6H1=" 93" 41" Tm" 3=A3@;3" P" =368" A<=;D43" 6314;:16" 2.8,7* :<* -,7." 37" 41" 261@@;K7"
9RD;4"934"@<HA8=L"

"
)=>3" @<7>61A?7><" 37" ^m" 3=A3@;3" ;7>366?HA3" H<H37>8731H37>3" 41" H16@I1" 93"
=Q7@<A1="P"6314;:1"?71"7<>1"93"A1=<"=3CS7"41="63C41="93"41"Tm"3=A3@;3L"
"

TT"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

^G /;" 41" =3C?791" 261@@;K7" 93" ?71" =Q7@<A1" 3=" @<7=<717>3N" A<968" @<79?@;6=3" 37" 41" Tm"
3=A3@;3L"

"
'1" A6;H361" =Q7@<A1" 934" 3E3HA4<" 3=" @<7=<717>3N" 93" H<9<" O?3" A?393" @<79?@;6=3"
37" 41" Tm" 3=A3@;3" P" A63A1616" ?71" 2.8,* :<* -,7." JO?3" 93D368" 63=<4B36" 37"
@<7=<717@;1GL" '1" =3C?791" =Q7@<A1" 3=" 9;=<717>3" J63>169<G" 93" H<9<" O?3" =3" B3"
<D4;C191" 1" 63=<4B36" 93=@37937>3H37>3" A<6" C619<" @<7E?7><" 37" ?71" @<7=<717@;1"
;HA3623@>1"J2K6H?41"f\cN"^\a"<"T\aGL"

[G '1="=Q7@<A1="A?3937"A6<9?@;6"?7Q=<7<="37"41"261@@;K7"2?36>3"934"@<HA8=L"

"
)4" ?7Q=<7<" 37" 261@@;K7" 2?36>3" 934" @<HA8=" J#;G" O?3" =3" A6<9?@3" 37" 3=>3"
@<7>61A?7><"3="@<663@><"A<6O?3"@<663=A<793"1"?71"=Q7@<A1L"

cG '<=" @<7>61A?7><=" =3" ;7;@;1687" 37" 41" 261@@;K7" 9RD;4" 934" A6;H36" @<HA8=L" '1" 261@@;K7"
2?36>3"3=>168"<@?A191"A<6"?7"=;437@;<L"

fG '<="@<7>61A?7><="=?A36;<63="@<7@4?;687"2<6H179<"?71"@48?=?41"@<7"34"63>169<"f\cN"
H;37>61="O?3"4<=";7236;<63="2<6H1687"41"@48?=?41"?=179<"34"63>169<"T\aL"

B>>.><7*5.@;2<7*
)7" 3=>1" 3=A3@;3" 34" 3=>?9;17>3" 93D3" @?;916" @<H3>36" 14C?7<=" 366<63=" >QA;@<=N" @<H<" 41"
A63A161@;K7"934"63>169<"H39;17>3"9;=<717@;1"J3EL"!GN"<"41"7<"63=<4?@;K7"934"63>169<"J3EL"TGL"

"
)7"34"A6;H36"3E3HA4<"34"/<4"7<"=;6B3"@<H<"7<>1"93"A63A161@;K7"934"63>169<"A?3="
R4" H;=H<" 3=" ?71" 9;=<717@;1L" )7" 34" =3C?79<" 3E3HA4<" 34" /<4" J63>169<G" 93DQ1"
63=<4B36"93=@379;379<"A<6"C619<"@<7E?7><L"

Ta"

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

G<>0<7*:<*7325.-,7*
'1=" =Q7@<A1=" =3" A63=>17" 28@;4H37>3" 1" 41" 6314;:1@;K7" 93" =36;3=N" 1?7O?3" 93D363H<=" 3B;>16"
3X>3793641=" 93H1=;19<" J4<=" @6;>36;<=" A161" 41=" >36@361=" P" =3X>1=" A1614341=" A?3937" =36B;6"
1O?QGL"'1="H8="A<A?4163="2?36<7N"=;7"9?91N"41="93"7<>0<7*:<*><8,>:.7"f\c"P"T\aL"

"

,1HD;R7"A?3937"3HA4316=3"=36;3="93"63>169<="^\a"P"7<>0<7*:<*7325.-,7"[\c"1=@37937>3=N"
?7" 63@?6=<" O?3" 2?3" D1=>17>3" @6;>;@19<" A<6" 14C?7<=" >3K6;@<=" 934" =;C4<" Y0Z" JA<6" 37@?D6;6"
H<B;H;37><=" 93" O?;7>1" A161434<=G" A36<" O?3N" =;7" 3HD16C<N" C<:K" 934" 1A63@;<" 93" 4<="
@<HA<=;><63=L"

"

'1=" =36;3=" 93" =Q7@<A1=" [\c" 93=@37937>3=" 3=>87N" =;7" 3HD16C<N" 3=>6;@>1H37>3" A6<I;D;91=N"
A6;7@;A14H37>3" A<6O?3" A?3937" =?=>;>?;6=3" 28@;4H37>3" A<6" 41=" H8=" ;9;<H8>;@1=" =36;3=" 93"
63>169<="f\cL"

"

T^"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

X'!"#L*BGMB(!B*
'1" O?;7>1" 3=A3@;3" JV@<7>61A?7><" 24<6;9<WG" 63S73" 41=" @?1>6<" 3=A3@;3=" 17>36;<63=" A161"
A<73641=" 14" =36B;@;<" 93" 41" @<HA<=;@;K7" 93" H34<9Q1=" 37" 1?>R7>;@<" 3=>;4<" A143=>6;7;17<L" '1="
7<6H1=" B;C37>3=" =<7" 41=" H;=H1=" O?3" @<7<@3H<=" A161" @191" ?71" 93" 41=" 3=A3@;3=N" =;7"
3HD16C<"@<663=A<793"I1@36"14C?71=";HA<6>17>3="A?7>?14;:1@;<73=L"

";<4,7*5.@902,50.2<7*>38@05,7*
'1" @<HD;71@;K7" 93" 3=A3@;3=" 91" 4?C16" 1" 7?3B1=" 2K6H?41=" 6Q>H;@1=L" /;7" 3HD16C<N" 7<" ><91="
3441="B17"1"=36"1A6<B3@I1D43=N"A<6"9<="H<>;B<=F"

!G M.>* 5;<780.2<7* :<* 2.8,50A2L" )4" =;=>3H1" 93" 7<>1@;K7" 6371@37>;=>1" 7<" ?>;4;:1D1"
D1661=" 9;B;=<6;1=" 93" @<HA8=" 7;" 4;C19?61=" 93" 9?61@;K7L" (3" 3=>3" H<9<N" 7<" =368"
A<=;D43" ?>;4;:16" @<HD;71@;<73=" 93" B14<63=" O?3" 7<" A?9;3617" <D>3736=3N" <" D;37"
H39;17>3"2;C?61="93"H1P<6"9?61@;K7"J@<H<"41"-*0/)&v@?196191GN"D;37"H39;17>3"34"
3HA43<"934"-;280//.L"

TG M.>* 5;<780.2<7* :<* <780/.L" *<H<" I3H<=" A<9;9<" ;6" @<HA6<D179<N" 34" 3=>;4<" B<@14"
@48=;@<" 3B;>1" 4<=" 323@><=" 1>6<A34419<=N" 93" H<9<" O?3" H16C;7168" 93>36H;719<="
323@><="6Q>H;@<=N"@<H<"4<=">08@.7*/.@9,>:.7"<"=Q7@<A1="93"B14<63="H37<63="1"41"
639<791L"

.<6"4<">17><N"93D363H<=";7>3C616"37"7?3=>6<"63A36><6;<"2K6H?41="6Q>H;@1="93"3=>3">;A<F"

"
'1" 2K6H?41" !" 3O?;B143" 1" ?71" -*0/)&" Jv@?196191GN" 41=" 2K6H?41=" TN" aN" c" P" f" =3"
<D>;3737"H39;17>3"34"A?7>;44<N"P"41="2K6H?41="aN"^N"["P"c"=3"<D>;3737"H39;17>3"41"
@<HD;71@;K7"93"3=A3@;3="J41="A163E1"93"@<6@I31="93"41"2K6H?41"f"=3687"3=>?9;191="
1A16>3GL" )4" 6;>H<" 171A3=><" J2K6H?41" [G" 93D3" >61>16=3" @<7" @;36>1=" A63@1?@;<73="
A161"O?3"7<"63=?4>3"3X@3=;B1H37>3"441H1>;B<L"

)7" @?14O?;36" @1=<N" 93D363H<=" =;3HA63" 3B;>16" 63A3>;6" @?14O?;36" 2K6H?41" 6Q>H;@1" J1?7O?3"
=31"4Q@;>1G"=;"@631"41"=37=1@;K7"93"63@?6637@;1"H<>QB;@1L"

"

T["

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

'1="2K6H?41="93"3=>3"<>6<">;A<"93D3687"=36"3B;>191="A<6"@<HA43><F"

"
'1="2K6H?41="!"P"T"=<7"6;>H<="4<HD169<="J?71"7<>1"=;>?191"37"261@@;K7"9RD;4"=3"
A6<4<7C1"37"?71"7<>1"93"B14<6"9<D43GN"41"a"3="?71"=Q7@<A1"93"D417@1N"H;37>61="O?3"
41"^"=K4<"A?393"<D>3736=3"H39;17>3"?71"4;C19?61"<"?7"9<D43"A?7>;44<L"

Y/;0:<=*>38@05,*C*9,>>,*:0407.>0,*
'1" @<HD;71@;K7" 93" 3=A3@;3=" 7<" 93D3" =36" 37>379;91" 7?7@1" @<H<" 41" P?X>1A<=;@;K7" 93"
261CH37><="3=@6;><="37"9;=>;7>1="3=A3@;3=L"%<"I1P"7191">17"143E19<"934"3=>;4<"B<@14"@48=;@<"
@<H<"3=>1"2<6H1"93"@<HD;716"41="3=A3@;3=F"

"
#34<9Q1"@<7=>6?;91"H39;17>3"261CH37><="37"41"!m"3=A3@;3"J@@L"TN"f"P"bGN"37"41"Tm"
3=A3@;3"J@L"!GN"37"41"am"3=A3@;3"J@L"aG"P"37"41"^m"3=A3@;3"J@@L"^\cGL"

$4" @<7>616;<N" 34" 6;>H<" 934" @<7>61A?7><" 24<6;9<" 93D3" 1=A;616" 1" :01;@02,>* /,7* 9,>>,7*
:0407.>0,7" 93" @<HA8=N" H39;17>3" >617=;@;<73=" =?1B3=" P" 24?;91=" 37>63" 3=A3@;3=N" >14" @<H<"
H?3=>617"4<="=;C?;37>3="3E3HA4<=N"><H19<="93"<D61="93".143=>6;71F"

"
#;=1"93"U31>1"0;6C;73"u"/17@>?="J/<9364?79N"AL"!`TG"

Tc"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

"
#;=1"U63B;="u"U3739;@>?="J/<9364?79N"AL"!!!G"

"
#;=1"(3"536;1"u"wP6;3"J/<9364?79N"AL"!T^G"

J,>5Z,7*:<*2<D>,7*
.<6" =?" A?E17:1" 6Q>H;@1N" 41=" 73C61=" 63O?;3637" ?7" >61>1H;37><" 3=A3@;14L" $=QN" >17><" 37" 34"
16617O?3" @<H<" 37" 34" >R6H;7<" 93" 41=" H16@I1=" 93" 73C61=N" 93D363H<=" C?16916" @;36>1="
A63@1?@;<73=L" .<6" =?" =?1B;919" JB17" 93" H37<=" 1" H8=G" 41" -><-,>,50A2" :<* /,7" @,>5Z,7*
,75<2:<28<7"<263@3"A<@<="A6<D43H1=L"/;C?;379<"41="7<6H1="93"@<HA37=1@;K7"93"=14><="93"
41" am" 3=A3@;3N" @<7B37968" 3B;>16" ;7;@;1641=" H39;17>3" =14><" 1=@37937>3" J3X@3A@;<714H37>3"
A<968";7;@;16=3"H39;17>3"=14><"93">36@361"1=@37937>3GL"

"
)E3HA4<=" 93" 16617O?3" 93" ?71" H16@I1" 93" 73C61=" 93=93" 41" !m" 73C61" 934" @<HA8=N"
A<6" H<B;H;37><" @<7E?7><" P" A<6" @<HA37=1@;K7" 93" =14><" J37" 3=>3" @1=<N" 34" 93" ?71"
@1HD;1>1GL"

"
)E3HA4<=" 93" 16617O?3" 93" ?71" H16@I1" 93" 73C61=" 93=93" 41" Tm" 73C61" 934" @<HA8=N"
A<6"H<B;H;37><"@<7E?7><"P"A<6"@<HA37=1@;K7"93"=14><L"
Tf"

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

"
)E3HA4<=" 93" 16617O?3" 93" ?71" H16@I1" 93" 73C61=" 93=93" 41" am" 73C61" 934" @<HA8=N"
A<6"H<B;H;37><"@<7E?7><"P"A<6"@<HA37=1@;K7"93"=14><L"

"
)E3HA4<=" 93" 16617O?3" 93" ?71" H16@I1" 93" 73C61=" 93=93" 41" ^m" 73C61" 934" @<HA8=N"
A<6"H<B;H;37><"@<7E?7><"P"A<6"@<HA37=1@;K7"93"=14><L"

'1=" @,>5Z,7* :<75<2:<28<7" <263@37" H37<=" A<=;D;4;9193=F" .<6" ?7" 419<N" =?" ;HA3>?<=<"
@<H;37:<"JB17"93"H8="1"H37<=G"93=1@<7=3E1";7;@;1641="37"41"!m"73C61"934"@<HA8=L".<6"<>6<"
419<N"41"1A4;@1@;K7"93"41"7<6H1"93"41"am"3=A3@;3"=3CS7"41"@?14"41"73C61"7<"93D3"=36"1>1@191"
A<6" =14><" 1=@37937>3" 93=93" 73C61" 1@37>?191" 4;H;>1" 1S7" H8=" 41=" A<=;D;4;9193=L" (3" 3=>3"
H<9<N" =<4<" 3=" A<=;D43" 1>1@16" A<6" =14><" P" H<B;H;37><" @<7E?7><" 41=" H16@I1=" 93=@37937>3="
O?3"=3";7;@;37"37"41"am"73C61"934"@<HA8=L"

"

)7" @?17><" 1" 41=" H16@I1=" ;7;@;191=" 37" 41" Tm" P" 41" ^m" 73C61" 934" @<HA8=N" =<4<" A<963H<="
;7;@;1641="A<6"H<B;H;37><"@<7E?7><L"

"

)7" @?17><" 1" 41" ><7./;50A2* :<* /,7* @,>5Z,7* :<* 2<D>,7" J>17><" 1=@37937>3=" @<H<"
93=@37937>3=GN" 93D363H<=" 93>373641=" 37" A16>3=" 2?36>3=" 934" @<HA8=N" A161" 3B;>16" 41"
2<6H1@;K7" 93" 6;>H<=" 4<HD169<=L" '1=" 2K6H?41=" A<=;D43=" =<7N" 93" H3E<6" 1" A3<6N" 41" O?3"
@<7@4?P3"37"?71"=Q7@<A1N"41"O?3"@<7@4?P3"37"A16>3"2?36>3"93"@<HA8="P"41"O?3"@<7@4?P3"37"
D417@1"37"A16>3"9RD;4"934"@<HA8=L"

"

Tb"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

#>,8,@0<28.*:<*/,*:07.2,250,*
)4" @<7>61A?7><" 24<6;9<" 19H;>3" 2K6H?41=" 93" >61>1H;37><" 93" 41" 9;=<717@;1" H8=" B16;191=" P"
243X;D43=" O?3" 41=" O?3" I3H<=" @<7<@;9<" 1" >61BR=" 93" 41=" 3=A3@;3=" 17>36;<63=L" .<6" 3E3HA4<N" 41"
2.8,*:<*-,7."A<968"6314;:16=3"37"A16>3"9RD;4"37"D417@1=N"37"73C61="<"37"41"H?P";9;<H8>;@1"
@<HD;71@;K7"D417@1"@<7"A?7>;44<"@<7"73C61L"

"

'1"@<HD;71@;K7"93"41"D417@1"@<7"A?7>;44<"P"41"73C61">1HD;R7"2<6H1"41"D1=3"93"41"5,@90,8,"
37"34"3=>;4<"B<@14"@48=;@<"J41"2K6H?41"37"73C61="93"41"am"3=A3@;3"7<"63243E1D1"?7"@1=<"6314GL"
(3"3=>3"H<9<N"37"34"@<7>61A?7><"24<6;9<N"41"@1HD;1>1"93D368"6314;:16=3"=3CS7"2K6H?41="93"
3=>3">;A<L"

"

$4" ;C?14" O?3" 34" B14<6" HQ7;H<" A161" 41" 7325.-," 3=" 41" 639<791" J9<=" D417@1=" 4;C191=GN" 34"
><8,>:."93D368"A63A1616=3"P"63=<4B36=3"63=A3>179<"4<="B14<63="HQ7;H<="93"D417@1"93"41"^m"
3=A3@;3N"4<"@?14"3X@4?P3"2K6H?41="@<H<"R=>1=L"

"

.<963H<="3HA4316"-,><O,7*:<*5.>5Z<,7"1;=4191="<@?A179<"41"A<=;@;K7"93"@?14O?;36"73C61"
9RD;4L" (3D3687" 3=>16" @<73@>191=" A<6" H<B;H;37><" @<7E?7><" 17>3=" P" 93=A?R=" P" A<9687"
2<6H16"@?14O?;36">;A<"93"9;=<717@;1N"=14B<"34"24<63<"=?A36;<6L"

"

/?"?=<"H8="@161@>36Q=>;@<"3=N"=;7"3HD16C<N"@<H<"028<>-./,50A2"934"63>169<L"

T]"

"
#17?14"93"@<7>61A?7><"=3B36<"JT`!`G"

(%"#$LM'"#%*+!K$B*B*!J!#L#!N%*
)7"34"@<7>61A?7><"4;D63N"><91="41="B<@3="3=>87"3=@6;>1="37"3=>;4<"24<6;9<L")44<"A36H;>3"7?3B1="
=;>?1@;<73="@<7>61A?7>Q=>;@1="O?3"63A1=163H<="1"@<7>;7?1@;K7F"

!G *?179<"@<;7@;937"B14<63=";C?143="37"1HD1="B<@3=N"93D3"H17>3736=3"41"63C41"93"41"
A6;H361"3=A3@;3"O?3"=<4<"19H;>3"@<7=<717@;1="37>63"41="A16>3=L"

"
,17><"34"@<7>61A?7><"37"D417@1="@<H<"34"@<7>61A?7><"37"73C61=N"><91="41="7<>1="
=<7"@<7=<717>3="37>63"=QL"L"
TG *?179<" @<;7@;937" B14<63=" 93=;C?143=" 37" 1HD1=" B<@3=N" 34" B14<6" H8=" 416C<" 1@>?168"
=;3HA63" @<H<" 6323637@;1" @<7=<717>3" A161" 4<=" B14<63=" H8=" @<6><=L" )=><" =;C7;2;@1"
O?3N"@?179<"@<;7@;917"D417@1="P"73C61="37"9;=>;7>1="B<@3=N"41"A6;H36"73C61"93D368"
=36"=;3HA63"@<7=<717>3L"

"
)4" A6;H36" 3E3HA4<" 3=" ;7@<663@><" A?3=" A63>3793N" <" D;37" O?3" 34" '1" 93" 41" B<:"
=?A36;<6"3="7<>1"93"A1=<"37"73C61"2?36>3N"<"D;37"O?3"34"/<4"93"41"B<:";7236;<6"3="
7<>1"93"A1=<L")4"=3C?79<"3E3HA4<"3="@<663@><"A?3="41"9;=<717@;1"=3"37@?37>61"37"
73C61"9RD;4L"
aG /3"19H;>37"H<B;H;37><="A161434<="93">36@361"<"=3X>1"H8="3X>37=<="@?179<"1HD1="
B<@3="=3"H?3B37"37"73C61="O?3"4<="O?3"=3"A36H;>Q17"A161"D417@1="<"639<791=L"

^G '1" B<:" =<D63" 41" O?3" 63=?34B3" 34" 63>169<" A?393" H<B36=3" 4;D63H37>3N" =;3HA63" O?3"
A36H;>1"41"63=<4?@;K7"934"63>169<"37"@<7=<717@;1";HA3623@>1L"

"
)7"1HD<="3E3HA4<=N"34"63>169<"63=?34B3"37"@<7=<717@;1";HA3623@>1"J41"A36@?=;K7"
P"63=<4?@;K7"934"63>169<"=3"@<HA?>1"37"41"73C61"2?36>3GL"
"

a`"

"
 -12134"53678793:"93"'166;7<1"JD?=>371l<7<L@<HG"

YA>@;/,7*5,:<250,/<7*
'1=" 2K6H?41=" @1937@;143=" 934" @<7>61A?7><" 24<6;9<" 19H;>37" >;A<=" 3X@3A@;<7143=" 93"
9;=<717@;1L"&71"2K6H?41"@1937@;14"H?P"A<A?416"3="41"O?3"A63=37>1H<="1"@<7>;7?1@;K7"37"
9<="B16;17>3="J@<7"P"=;7"028<>-./,50A2"934"63>169<"37"@<6@I31=GL"

"

(;@I1" 2K6H?41" A?393" ;HA43H37>16=3" 93" B16;1=" H17361=N" @<H<" H?3=>617" 4<=" =;C?;37>3="
3E3HA4<="J4<=";4?=>61H<="3HA43179<"41"2K6H?41"=;7";7>36A<41@;K7N"1?7O?3"4<="3E3HA4<="=<7"
B84;9<="A161"1HD1="B16;17>3=GF"

!G /;7"9;=<717@;1="3X@3A@;<7143=F"

"

TG Z7>36A63>179<"41="9<="A6;H361="7<>1="@<H<"41"><7./;50A2*,28050-,:,*:</*><8,>:."
37"73C61"O?3"I1DQ1H<="A6<I;D;9<"37"41"O?;7>1"3=A3@;3F"

"

aG Z7>36A63>179<" 41" =3C?791" 7<>1" @<H<" ,28050-,50A2" J9;=<717@;1" O?3" 17>;@;A1" A<6"
?7Q=<7<"?71"@<7=<717@;1GF"

"

^G .36H;>;379<"O?3"41"=3C?791"B<:"6314;@3"?71" 2.8,*:<*-,7.*<2*-,>8<*1;<>8<"@<H<"
A16>3"93"<>61"2K6H?41"H34K9;@1"@161@>36Q=>;@1F"

"
2K6H?41"@161@>36Q=>;@1"A161"41"
7<>1"93"A1=<"37"A16>3"2?36>3"

a!"

"