Professional Documents
Culture Documents
&U5=2'&'=&45'T'
125(='&4)
4 45/45
'G%DIJ3C"C3C7J"A9A.
HEH!J8 -&
DEVLET KİTAPLARI
BEŞİNCİ BASKI
…………………, 2016
MİLLÎ EĞİTİM BAKANLIĞI YAYINLARI.............................................................................: 5699
16.?.Y.0002.4228
Her hakkı saklıdır ve Millî Eğitim Bakanlığına aittir. Kitabın metin, soru ve şekilleri
kısmen de olsa hiçbir surette alınıp yayımlanamaz.
Editör
Selma BEKÇİ KOÇASLAN
Dil Uzmanı
Cengiz MÜFETTİŞOĞLU
ISBN 978-975-11-3632-9
Millî Eğitim Bakanlığı, Talim ve Terbiye Kurulunun 18.04.2011 gün ve 38 sayılı kararı
ile ders kitabı olarak kabul edilmiş, Destek Hizmetleri Genel Müdürlüğünün 20.06.2016
gün ve 6766471 sayılı yazısı ile beşinci defa 10.018 adet basılmıştır.
Korkma, sönmez bu şafaklarda yüzen al sancak; Bastığın yerleri toprak diyerek geçme, tanı:
Sönmeden yurdumun üstünde tüten en son ocak. Düşün altındaki binlerce kefensiz yatanı.
O benim milletimin yıldızıdır, parlayacak; Sen şehit oğlusun, incitme, yazıktır, atanı:
O benimdir, o benim milletimindir ancak. Verme, dünyaları alsan da bu cennet vatanı.
Çatma, kurban olayım, çehreni ey nazlı hilâl! Kim bu cennet vatanın uğruna olmaz ki feda?
Kahraman ırkıma bir gül! Ne bu şiddet, bu celâl? Şüheda fışkıracak toprağı sıksan, şüheda!
Sana olmaz dökülen kanlarımız sonra helâl. Cânı, cânânı, bütün varımı alsın da Huda,
Hakkıdır Hakk’a tapan milletimin istiklâl. Etmesin tek vatanımdan beni dünyada cüda.
Ben ezelden beridir hür yaşadım, hür yaşarım. Ruhumun senden İlâhî, şudur ancak emeli:
Hangi çılgın bana zincir vuracakmış? Şaşarım! Değmesin mabedimin göğsüne nâmahrem eli.
Kükremiş sel gibiyim, bendimi çiğner, aşarım. Bu ezanlar -ki şehadetleri dinin temeli-
Yırtarım dağları, enginlere sığmam, taşarım. Ebedî yurdumun üstünde benim inlemeli.
Garbın âfâkını sarmışsa çelik zırhlı duvar, O zaman vecd ile bin secde eder -varsa- taşım,
Benim iman dolu göğsüm gibi serhaddim var. Her cerîhamdan İlâhî, boşanıp kanlı yaşım,
Ulusun, korkma! Nasıl böyle bir imanı boğar, Fışkırır ruh-ı mücerret gibi yerden na’şım;
Medeniyyet dediğin tek dişi kalmış canavar? O zaman yükselerek arşa değer belki başım.
Arkadaş, yurduma alçakları uğratma sakın; Dalgalan sen de şafaklar gibi ey şanlı hilâl!
Siper et gövdeni, dursun bu hayâsızca akın. Olsun artık dökülen kanlarımın hepsi helâl.
Doğacaktır sana va’dettiği günler Hakk’ın; Ebediyyen sana yok, ırkıma yok izmihlâl;
Kim bilir, belki yarın, belki yarından da yakın Hakkıdır hür yaşamış bayrağımın hürriyyet;
Hakkıdır Hakk’a tapan milletimin istiklâl!
) U+'&2K=&U5=2'&'=&45'T'+2=$'5'S
4=&U5=2'&'=&45'T'+'+=44R)=N2=+2'= JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKW`S
=2'&'=&45'T'+'+='/'S'/'=/100='/'/25=N2=4/4+/45= JKJKJKJKJKJKJKJKJKJKJKaX
8IDH% JJ JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKa]
5H6I;G<JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaY
Q 4@4@ JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaY
M 5);6)E)NH JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaW
I A*H<H? JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaW
H A@)B)?HJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaZ
E 9E<D#JA/G2H6I<#J5IBI< JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaZ
R=&U5=2'&'=&45'T'+'+=1+2/25'= JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaU
P='/=&U5=12N/2&/25'+12=2'&'= JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaR
4BEID/IJA*H<H? JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaS
V^@<D@EGD/GJA*H<H? JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJK]X
Q 64DEID/IJA*H<H? JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJK]]
[E?GJ(GJ,G*GDEGB/HD?GJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJK]Z
)) U+'&2K='(/4'2&O'+=40/U+12+=(+54=&U5/2512=2'&'
4='(/4'2&O'+=40/U+U+=&U5=&%/00+4=2&'/25'= JKJKJKJKJKJKJKJKJKJKJKJKJK]R
=454T4+/)/4514=2'&'= JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKYY
A*H<H?J94D4?EIDFJ(GJ[!GEEH@EGDHJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKYW
A*H<H?GJ9I<@F/IJ14E4BIBJ,+BDEGDJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKYU
R=(2/P0/0/4514=2'&'= JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKWa
A*H<H?J94D4?EIDFJ(GJ[!GEEH@EGDHJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKWa
A*H<H?GJ9I<@F/IJ14E4BIBJ,+BDEGDJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKZX
P=(4+/)=12N/2&'O+12=2'&'= JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKUX
VGEGBG@;GEJA*H<H?J94D4?EIDFJ(GJ[!GEEH@EGDH JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKU]
A*H<H?/GJ3GBHEG+?GJIDG@G<EGDHJ(GJ5)B4EIDF JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKT]
Q 3GBHJA*H<H?J94D4?EIDFJ(GJ[!GEEH@EGDHJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKTW
9,,
M A*H<H?GJ9I<@F/IJ14E4BIBJ,+BDEGDJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKRY
[E?GJ(GJ,G*GDEGB/HD?GJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKRT
))) U+'&2K=R0T05'2&=1+2'+12=2'&'
4='//B=UR412/2=1+2'+12=2'&'= JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKSa
A*H<H?HBJVGBGEJ,4D4?4 JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKS]
0HEEJA*H<H?EGJ>EHEHJI!FDEF@J&IEF+?IEIDFJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKSY
Q &I*/I+JA*H<H?JCBEI6F+FBFBJ1GBH?;GB?G;H JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaXU
I =IH@JA*H<H?JCBEI6F+FBFBJ1GBH?;GB?G;H JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaXS
H 9ID?IJA*H<H?JCBEI6F+FBFBJ1GBH?;GB?G;H JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaaX
R=4&4&U5OU+=2'&'/2='/$'/'=$5US/25'= JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaaY
P=R0T05'2&=1+2'+12=2'&'12=$2/'S2/25= JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaaZ
@4EJ[BG;HJ(GJ>E@^*DG<H?/GJVGEH+?GEGD JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaaT
D<I^*DG<H?/G@HJVGEH+?GEGDJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKa]W
Q 3@;G@^*DG<H?/G@HJVGEH+?GEGD JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKa]T
M 3I6FBJA*H<H?/G@HJVGEH+?GEGD JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaYY
1=&U5'2O12=52&2+=2&'S&'52+'+=$2/'S''= JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaYT
2=2'&'2=4&)14=0/0+4+=1USU+U5/25 JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaWZ
@4?IJ0G<BH_JMA+G@EHJ9<%IBGHL JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaZX
[E?GJ(GJ,G*GDEGB/HD?GJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaZa
==R<:>=43:!:97:96 JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaZZ
==( .7J*=== JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaZU`aUa
==:@3:*: JKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKJKaU]`aUZ
9,,,
'&4))
)
CDI+<FDIEF?_J3I!FEF#J^D;GEJ@I6BI@EID
(GJQ<GBJ6GBHJ2HEHEGDJGE/GJG<`
?G6GJ6^BGEH@J2GGDHEGDHJ@I;IDK
14EIEF?_JGDHEGBJ?IE!G?GJ!GDHB/GB
/)*D4J2HEHBHBJ;GHE?G;HBHJ@I;IDK
1GBJ9H?H?O_J[BG?J<I+F6IBJ@H+HEG`
DHB#J(GDHEGBJH4EIDFB/IBJ6IDIDEIBFEI`
DI@J<G;H<JG/HE?G;HBHJ@I;IDK
-I6EI+IEF?_ CDI+<FDFEIBJ6IJ/IJ(GDHEGB
2HEHEGDHB#J;FBFJ)D<I?FB/IJ^*DGBHEGD
IDI;FB/I@HJI6EI+F?FBFJ@I;IDK
9)B46IJ^!J@4EEIBFEIBJG<@HBEH@EGDHJ@I;ID_
)<)*DIJ3)D4?EI6IEF?_J)<)*DIEIDEIJHEHEHJF@IDF?EID/IJ24E4B4E?I;FBFJ@I;IDK
GBBJ"G?I;F6EIJ>BGEG6GEH?_J0I<G?I<H@;GEJ^D;GEEGDHBJ@4EEIBFE?I;F6EIJ)D<I@JID@EF
^!GEEH@EGDHBJ2GEHDEGB?G;HBHJ@I;IDK
CQ/IBJ'Q6GJ[*DGB/H@EGDH?_J9)B46EIJHEHEHJ@I!IBF?J(GJ2GGDHEGDHBJBGJ@I/IDJG/HBHE/H`
*HBHJ@I;IDK
aJ EI6J]J3)D4?_J>BGEGBGBJ@)B46EIJHEHEHJ6I@EI+F?EIDFBJ@ID+FEI+<FDFEFJIBIEH!JG/HE`
?G;HBHJ@I;IDK
a
&4+)4/)
,+BGEH?_ >BGEGBGG@J?IE!G?GBHB
?G<HB#J +HHDJ /G*GDEGB/HDHE?G;HBHJ (G
@)B4J%I@@FB/IJ/+BGJDG<HE?G;HBH
@I;IDK
>BGEG6GEH?_ AEG+<HDGEJ/+B?G#J@G+`
G<?G#JHEG<H+H?#JIDI+<FD?IJ2GGDHEGDHBH
GEH+<HD?G6GJ6^BGEH@J;DGHJ@I;IDK
3I!IEF?_ GDHEGBJ(G6IJDG<HEGG@J2HEH
(GJ/+BGEGDHBJ@\*F/IJ/G<GD#J@H<I
I@<IDFE?I;FBFJ@I;IDK
9ID+FEI+<FDIEF?_ E4#J)EI6#J@H+H#J/4D4?#
?G<HBJH2HJ(GDHEGDHBJ@ID+FEI+<FDFEIDI@JF`
@IDF?/IJ24E4B4E?I;FBFJ@I;IDK
54BIEF?_ I!FDEF*FJ6IFE?F+JIEF+?I`
EIDFBJ ;FBFJ )D<I?FB/IJ ;4B4E?I;FBF
@I;IDK
1HEHJ7)<4_ 1HEH?;GEJBH<GEH@J<I+F6IB#J@)`
B464J/G;<G@EG?G6GJ6^BGEH@JGB<GEG@`
<GEJ2HEHEGDHJ@I;IDK
VG!GEH?_J9)B464J/G;<G@EG6GBJG!HJ(GJHBGEG?GEGDHJ@I;IDK
5)D4EI6IEF?_JGDHEGBJ2HEHEGDHBJG/HBHE?H+EH@J/!G6EGDHBHBJ;I<IB?I;FBFJ(GJ24BEIDFB
HI/GJG/HE?G;HBHJ@I;IDK
-IBGEJI!FDEI6IEF?_J3IFEII@JIBGEJ(GJ2I;I?I@EIDFBFJ@I;IDK
@4?IJ-IDI;F_JBH<GJ;)B4B/IJBH<G6GJ2I@F+JIF;FBFJG@H+<HDGB#J/I%IJI6DFB<FEFJIB`
EI<FE?F+J2HDJ@)B464J@I;IDK
[BJ&IEF+?I_J,I%IJ;)BDIJ6IFEII@JG<@HBEH@EGDJHHBJIDI+<FD?IJ(GJHBGEG?GEGDHJ@I`
;IDK
]
Q X Z
Trn ,F
X,BMnZ&QXQLnXSBQ0QFZn4QBQ"
M]jdkpm
Sr X`mhnZWqlqinXpmqaqjqj
SipOgnUon2joiq
@r ZWqlqinXpmqaqjqjnQkqYhqkq
:kedWdn@qkqikomnUonSkpjkpm
/r X`mhnZWqlqinXpmqaqjqj
KCjoikomq
+rnQkhnX`mhnKoUkolkomqjeo
ZWqlqi
S
X,BMnZ&QXQLnXSBQ0QFQFnSLS/<n$Zn2FZLQ
Hazrlanalm
[lmAWicibmVjmckgiQmdkVgkbhkgemaiUjmfjhjgmQkceghkce^Zg.
Tlm2jKbiXimYihbjd]mS\f\b\UmjWicibm`^S`hkbkmVjmaZg`fhkgefefmkfhkXehbkaef_km^kgkg
akWhkgmbe.
AWicib EkgiQ
AWicib 2jfjh
X`mhnZWqlqi
Dihibhjgi E\gdmEkgiQi
Xpmqaq
AWicibmckgiQi]mjWicibifmUkbkfmiKif_jmiUhj_iWim^Zh`mifHjhj^jfmYigmYihibm_khe_eglmAWicibmYihibhjgififmYigm_khemZhkgkd
jWicibm9kd\hcjhjgif_jmVjmihSihimjfacic\hjg_jmkgkXcegehbkdck_eglmE\bmYihibm_khhkgemSiYimjWicibmYihibhjgim_jmdjf_imkdkF
_jbidmSjKbiXifimYjhSjhjbjdcj_iglmE\gdmjWicibmckgiQi]mE\gdhjgifmjWicibmkhkfef_kdimSjKbiXifimkgkXcegkgkdmS\f\F
b\Um jWicibm `^S`hkbkm Vjm aZg`fhkgefkm KMU\bm Y`hbkd]m SjhjHjWjm _Mf\dm Ihkfhkbkm ^kIbkdm iKif
^kgkghkfkYihjHjWibiUmVjgihjgma`fkgl
X`mhnZWqlqinXpmqaqjqjnMp\fpigNnSipOgnUon2joiq
JZeV]_d`cd_ D`MacaWacd^
TrnX`mhnoWqlqinlpmqaqjqjnPpipjnVphgigjepjnqjOokojiofqc
SYpWgephqnlpmqanYomqeqjqnqjOoko_q\nlpmqalonhdmdkpjnVpPgnX`mhneoUkolkomqjqjnlpmqanYomqeqjeohqnh]jd9
idjdnVokqmko_qjqPrn@dneoUkolkomnpmpfgjephqnhm]j]k]%qhnpmegYghkgWgn[CPnCj`jeonVdkdjedmpmphnVdjkpmgj
oWqlqinfqfloikomqnpmpfgjepnjpfgknVqmnqkqYhqnVdkdjpVqkoOoWqnqkonqk[qkqn;ghpmgikpmepnVdkdjdjdPr
Qfkpiq_ol6on4o;qY
MSBS0SFG<nKZ$GZXQ X,BMQAZn/.L0.BQAZXQnKZ$GZXQ
.A4.BnKZ$GZXQ :=LSFG<nKZ$GZXQ
DT> HEE E HEE ?EE 8EE >EE TEEE THEE T?EE T8EE T>EE HEEE HETH
L2 L=
E\gdmjWicibmckgiQi]mYihifjfmihdmE\gdmcZIh`bhkgemihjmYkXhk^eImS\f\b\Ujmdk_kgma\gjglm@ickYebeU_kmY`mcZIh`bF
hkg_kfmYkUehkgefefmjWicibm`^S`hkbkhkgefemifHjhj^jHjWiUl
G
HrnX`mhnoWqlqinlpmqaqjqjnh]jdnVphgigjepjnqjOokojiofq
SYpWgephqnYoipepnX`mhnoWqlqinlpmqaqjqjnhp\fpigjpn[qmojNn[o;iqYlojn[`j`i`PondPpjpjnf`mo;
q;qjeonqjOokojojnoWqlqinUonCWmolqinqkonqk[qkqnh]jdkpmnVdkdjiphlpegmr
AWicibhjm>hSihim*icjhmVj
EZIh`b`fmAWicibmOfhk^eXe
*iHjhm8Zf`Khkg
AWicibm@`gkbhkgemVjm2jF AWicibhjm>hSihim5jgmE\g
hiXcigihjfmAWicibm;\X\fHjhjgi DihSimVjmDjhSj
;jgam"gZSgkbhkgemVj ;jVhjcifmAWicibm"ZhiciF
@ickIhkge dkaemVjmAWicibm,jhaj9jai
1Wgjcbjfhjgifmkbkf
?k^SefmAWicibm@`g`bhkge
>Kif_jm;jWiXjfm*icjhidhjgi AWicibhjm>hSihim@kf`f]
E\U\dmVjm?Mfjcbjhidhjg
AWicibmVjmMWgjcibhjmihSihimdkVgkbhkgefmkKedhkfbkae]mMgfjdhjf_igihjgjdmkfhkXehbkaefefmakWhkfbkae]mSjgKjdF
hjXcigihjfmjWicibm`^S`hkbkhkgefefmdkVgkfbkae]m_MfjbhjgmkgkaemYjfUjghidmVjm9kgdhehedhkgefmfj_jfhjgififmkKedhkfF
bkae]mS\f\b\Um`^S`hkbkhkgefefm^Zg`bhkfbkae]mYkUemZhS`]mdkVgkb]md`g`b]md`g`h`XmVjmkfhk^eXhkgefmUkbkf
iKif_jm_jWiXibimSiYimdZf`hkgmE\gdmjWicibmckgiQififmdkIakbefkmSigjgl
2Mg\h\^ZgmdimE\gdmjWicibmckgiQififmdZf`mdkIakbemKZdmSjfiXciglmD`f`fmfj_jfhjgi]mjWicibifmdkIakbefefmSjfiX
ZhbkaemVjmdZf`hkgefm`U`fmYigmUkbkfmdjaicimiKif_jmjhjmkhefbkae_egl
BZeV]_d`cd_ HbQbc[^
X`mhnoWqlqinlpmqaqjqjnqjOokoeqWqnh]jdkpmepjnVqmqneonCWmoliojn_olqYlqmioeonUonCWmoliojnjqlokqhko9
mqjeonPpipjnq;qjeon]mlp_pn;ghpjneoWqYqikomeqmrn=qPOon[`j`i`PnCWmoliojkomqnapj[qnjqlokqhkomonfpaq\
]kipkgegm3nSkeghkpmgnoWqlqiNn;pWepYnUonolhqjnVqmnoWqlqinUomiohnq;qjn_olomkqniqeqm3nK`Y`jOokomqjqPqnpYp9
Wg_pn_pPgjgPr
2jn+pkgYipb:hdknKgYgcn8efe9ebeU_km\KmSg`Ykmk^gehkgkdmE\gdmjWicibmckgiQififmd\hc\g]mj_jYi^kcmVjmakF
fkchkmihiXdiaifimkgkXcegkhebm:[Jlmak^9k_kdimPlmjcdifhidmiKifNl
J
DrnSipOgnUon2joiq
9ZeV]_d`cd_ Fa`d^e,K\TUT^
SYpWgephqnCjomiokomkonqk[qkqnfo;ojohkomeojnd_[djnVdkedhkpmgjgPgnunqkonqYpmolko_qjqPrnApjglkpmgj
apj[qnCjomiokomeonUonjpfgkn_]WdjkpYlgWgjgnlof\qlnoeq\ndkpYlgWgjgPnf]jd;kpmgnfgjgJgjgPephqnpmhpepYkpmg9
jgPkpn\p_kpYgjgPr
Mgfioj
X`mhnZWqlqinXpmqaqjqnQjOoko_omohx Mplgkg_]mdi Mplgkig_]mdi
Mplgkg_]mdi
2jKbiXcjfmS\f\b\UjmjWicibmckgiQififmSjKig_iWimkXkF
bkhkgemdkVgk^kYihigiUl ^ ^ ^
AWicibjmdkcdemakWhkbeXmE\gdm_\X\f\ghjgififmSMg\XhjF
gifimMWgjfigiUl ^ ^ ^
@`g`hkfmE\gdm_jVhjchjgififmai^kaimckgiQhjgifimMWgjfigiUl ^ ^ ^
AWicib_jmSjKbiXcjfmY`S\fjm^kXkfkfmfiHjhmVjmficjh
SjhiXbjhjgimdkgXehkXcegkYihigiUl ^ ^ ^
AWicibifmak_jHjmKZH`dhkgmVjmSjfKhjgmiKifmZh_`W`f`
MWgjfigiUl ^ ^ ^
AWicibifm_iWjgmYihibajhmkhkfmVjm_iaiIhifhjghjmihiXdiaifi
SMgjYihigiUl ^ ^ ^
1WgjfHihjgifmIaidZhZidmSjhiXibif_jmjWicibifmgZh\f\mVj
jcdiaifim_jWjghjf_igigiUl ^ ^ ^
E\gdi^j3fifmY`S\fd\mjWicibmaZg`fhkgefemkfhk^kYihbjd
iKifmSjKbiXifm_jWjghjf_igbjaifim^kIkYihigiUl ^ ^ ^
E\gdm_jVhjchjgif_jmjWicibmaiacjbififmckgiQibiUmYZ^`fHk
k^femQj_j9hjgjm`hkXbk^emkbkKhk_eWefemSMg\g\Ul ^ ^ ^
AWicibmkfhk^eXefefmcZIh`bakh]mkadjg0mVjmjdZfZbid
^kIe^hkmihiXdiaifimZgck^kmdZ^kYihigiUl ^ ^ ^
2jKbiXcjfmS\f\b\UjmZgck^kmdZf`hb`Xmc\bm9jhaj9i
kdebhkgemifHjhjgiUl ^ ^ ^
E\gdi^j3_jmjWicibifmc\g]m^MfcjbmVjmcjdfidhjgmVYlmYkF
debef_kfmSjhiXibma\gjHifimdkVgk^kYihigiUl ^ ^ ^
EZIh`bHkmYjfibajfbiXmi_jkhmifakfmciIififm^jciXbjai
iKifm^kIehkfm`^S`hkbkhkgemSMgjYihigiUl ^ ^ ^
AWicibhjmihSihimKedkfmMfjbhimdkf`fmc\U\dmVjm^MfjcbjF
hidhjgifmiKjgiWifimkfhk^kYihigiUl ^ ^ ^
E\gdm_jVhjchjgif_jmjWicibifmMUjhhidhjgimVjmjWicibimXjF
dihhjf_igjfmjcdjfhjgmQkddef_kmYihSimakQiYimZh`g`Ul ^ ^ ^
AWicibmckgiQibiU_jdimMfjbhimd`g`bmVjm`^S`hkbkhkge
ifHjhj^jYihigiUl ^ ^ ^
E\gdmjWicibmckgiQi]mE\gdhjgifmjWicibmkfhk^eXmVjm`^S`hkbkhkgefemifHjhj^jgjdm_MfjbajhmMUjhhidhjgimVjmUkbkf
iKif_jmZgck^kmKedkfm9kgdhehedhkgemYjhSjhjghjmZgck^kmdZ^kglm;MfjbajhmMUjhhidmVjm9kgdhehedhkgefm_jWjghjf_igihbjai]
S\f\b\UmjWicibmaZg`fhkgefefm_kQkmi^imkfhkXehbkaefkmVjmKMU\hbjaifjm^kg_ebHemZh`gl
B
8ZeV]_d`cd_ HbQbc[^
TrnSYpWgepnqhqnJpmhkgneCjoieojnhofqlkomnfdjpjnhdm[dfpkniolqjkomon_omnUomqkiqYlqmrn@]YnVgmphgkpj
_omkomqnap_pkn[`O`j`P`nhdkkpjpmphnlpipikp_gjgPr
Hr X`mhnoWqlqinlpmqaqjqnCWmojiojqjnjon[qVqn_pmpmkpmgn]kpVqkqm3n!DrnZlhqjkqhnUonVdnolhqjkqhlon_p\lgWgjgP
;pkgYipepjn_]kpn;ghpmphne`Y`jOokomqjqPqneoJlomqjqPon_pPgjgPr
mEgjfmVj^kmZcZY\ahjmXjQgjm`hkXcedckf m$KkdhkmXjQgjmSjh_idcjfmaZfgkmdM^jm`hkXF
aZfgkmdM^jmSicbjdmiKifm_jmkcmkgkYkae^hk bkdmiKifmYigmb\fiY\ajmYif_ibl
^ZhH`h`dmjcbjdmSjgjdi^Zg_`l
m4d`h]mcjdm_jgahidhi^_il mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
m4d`h`fmcjdmMWgjcbjfi^_ibl mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mE\bmaefe9hkgemYigmkgk_kmjWiccibl llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mEZIhkbmTCmMWgjfHibmVkg_el mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
m1WgjfHihjgibifmT3aimdeUmTJ3imjgdjdmi_il m!5k^_im@eUhkgm4d`hkmdkbIkf^kae^hkmYigF
hidcjmdeUmMWgjfHihjgibifmak^eae]mjgdjdmMWgjfF
Hihjgibifmak^eaefkm^kdhkXcel
m4d`h`b`U]mQiKYigmcjdfidmVjmaZa^khmibd)fk m4d`h`b`U_kmaIZgmakhZf`mVjmYihSiak^kgmhkF
akQiIm_jWih_il YZgkc`VkgemY`h`fbkdck_egl
m4d`h`fmcjbiUhidmVjmYZ^kmiXhjgifimMWgjfHiF
hjgibmVjmdM^h\hjghjmYighidcjm^kIe^Zg_`dl mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
C
7Z V]_d`cd_ HbQbc[^
SYpWgepnoWqlqikonqk[qkqn[o;iqYlojn[`j`i`PoneoUpinoeojnVpPgnf]mdjkpmnUomqkiqYlqmrn@dnf]mdjkpmp
_Cjokqhn;CP`inCjomqkomqjqPqnj]hlpkgn_omkomon_pPgjgPr
=]mdjkpm +CP`in2jomqkomqi
DkUemYgkfXhkg_kmMWgjcbjfmak^eae >Qci^kKm_`^`hkfmkhkfhkg_kmMWgjcbjfmak^eaefemkgccegbkdmiKifmMWgjfF
^jcjgaiU_igl HihjgimihSihimkhkfhkgkm^Mfhjf_igjHjdmKkheXbkhkgm^kIehkYihigl
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
AWicibjm k^gehkfm bkhim dk^fkdhkg llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
iQci^kKhkgmdkgXeaef_km^jcjgaiU_igl
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
AWicib]m_jWiXjfm_\f^kfefmaZa^ZF llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
jdZfZbidmXkgchkgefkm`^`bmakWhkF llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
bk_km^jcjgaiU_igl llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
@egakhmdjaib_jmZd`hhkXbkmZgkfe
_kQkm_\X\dc\gl llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
@eUmKZH`dhkgefefmMWgjfibjm_jVkb
ZgkfemjgdjdhjgjmSMgjm_\X\dc\gl llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
AWicibHihjgifm^kXk_eWemjdZfZbid llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
UZgh`dhkgmjWicibimZh`ba`UmjcdihjF llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
bjdcj_igl llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
AWicib_jmcjdfZhZim^jcjgifHjmd`hF
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
hkfehbkbkdck_egl
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
AWicibmVjmiaciQ_kbmkgkaef_kmakWF
hedhemYigmihiXdimd`g`hkbkbkdck_egl llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
=
3Z V]_d`cd_ HbQbc[^
KpapnCjOohqn;pkgYipkpmgjgPepjn_]kpn;ghpmphnX`mhnoWqlqinlpmqaqjqnqjOokoiojqjnJp_epkpmgnh]jdfdjep
;ghpmgikpmepnVdkdjdjdPrn.kpYlgWgjgPnf]jd;kpmgnYoipephqnj]hlpkgn_omkomon_pPgjgPr
AWicibif]mckgiQ0ma\gjKmiKif_j
SjKig_iWim kXkbkhkgem MWgjfF
bjbiUimakWhkgl
lllllllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllll
X`mh
ZWqlqinXpmqaqjq
QjOokoiojqj
Apmpmkpmg
lllllllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllll
2jn+pkgYipb:hdknKgYgcnOfk^kak3beU_kdimjWicibhjmihSihimbk__jhjgimkgkXcegkhebm:[Llmak^9k_kdimJlmjcF
difhidmiKifNl
P
@
Z&QXQLnXSBQ0QFQFnQGQ"MQGQn:GK.&.n@QGQLGZBn$ZnSGSFGSB
Hazrlanalm
Tr @qkqinUonpkpjnfCPO`hkomqjqjnfqPonjokomnqJpeonollqWqjqnfC_ko_qjqPr
Hr ZWqlqinlpmqaqnfqPOonapj[qnVqkqinepkkpmgjgjnUomqkomqjeojn_pmpmkpjgm3
JZeV]_d`cd_ #R]RP\b>eHR\X^cbWbc[^
SYpWgephqnJ]l]WmpJkpmgnqjOoko_omohnapj[qnVqkqinepkkpmgnUonpkpjkpmkpnqk[qkqn]kpVqkoOohkomqjqnVokqmlqjqPr
5jgmaZa^khmYihib]mQjgQkfSimYigmZhk^ZhS`f`fmdjf_iaimihjmihSihim^Mf\f\mifHjhjbjdcj_iglm4^akmaZa^khmSjgKjdhid
YigmY\c\f_\glmD`mY\c\fh\W\mkKedhk^kYihbjdmiKifmaZa^khmYihibhjg]miXmYighiWim^kIbkdmUZg`f_k_eglm8Zf`KckmQjg
Yihibm_khe]m_iWjgmYihibhjgjmdkcde_kmY`h`fkgkdmVjmZfhkg_kfm9k^_khkfkgkdmVkgheWefema\g_\gbjdcj_igl
[R
BZ V]_d`cd_ FXcbc[^
SYpWgepniolqjnhdldOdhkpmgnq;qjeoNnoWqlqinlpmqaqnpkpjgjepnCjoikqn;pkgYipkpmn_p\igYnUon;]hnfp_gep
Vqkqinpepigjgjn_olqYiofqjonCjp_phn]kidYnVqmnphpeoiqf_ojn]kpjn!m]JrnKmrnApa_pnSh_`P6`jNnpmpYlgm9
ipkpmgjepnVqmnh]jd_pnjpfgkn;]hnV]_dlkdnVphlgWgjgn[Cflomojnhdm[dfpknVqmnpmpYlgmipnf`moOqnUomqkiqYlqmr
LolqjkomqjnaomnVqmqNnoWqlqinlpmqaqjqjneqWomnVqkqinUonpkpjkpmkpnqkqYhqfqjqnVokqmliohloeqmrn@qkqinepkkpmgnqko
Vdjkpmpnpqlnp;ghkpipkpmgnCmjohlohqn[qVqnoYkoYlqmqjqPr
6`bQ`gi^jcm;Mfjbif_jdimSjhiXbjhjgmaZf`F
[l 8i^kajc Jl 8Za^ZhZi
H`f_kmZgck^kmKedkfmjWicibmkfhk^eXemVjm`^S`hkF
Tl 5`d`d Bl AWicib bkhkgefemkgkXceg_ebl
rrr
Ll AdZfZbi Cl @\hc\gF8kfkcFA_jYi^kc
Gl EkgiQ
6`bQ`gi^jcm;Mfjbif_jm_jWiXjfmVjmUjfSifF OgkXcegbkbem^kIkgdjf]mYigKZdmdk^fkWemckgkF
hjXjfm`h`akhm_jWjghjgifm^jfimfjaihhjgjmfkaehmkdF _eblm1gfjWifmZm_MfjbifmSkUjcj]m_jgSi]mkgXiV
ckgeh_eWefemkgkXceg_eblmO^geHkmY`m_Mfjbifm^kUe Vjaidkhkgefem Vjm 9ZcZWgk9hkgefem _km ifHjhj^jgjd
_ihifi]mY`m_Mfjbjmkicmkfe]mQid)^j]mgZbkfmc\ghjF jWicibhjmihSihimVjgihjgmcZIhk_ebl
gif_jdim j_jY0m jajghjgm ihjm gjaib]m Qj^djh]m SiYi rrr
akfkcm_khhkgefefm\g\fhjgifimifHjhj_ibl
1
4abkfhem_Mfjbif_jfmbigkamdkhkfmjWicibmaZF
g`fhkgefefm6`bQ`gi^jcm;Mfjbif_jmKMU\bhjfjF
Yihbjaim iKifm ^kIehkfm ^kakhm _\Ujfhjbjhjgi]
"gZ9lm;glm?kQ^kmOd^\Um
Y`fhkgefmfjmkbkKhkm^kIeh_eWefemVjm`^S`hkbkhkF
gefmcZIh`bkmfkaehm^kfae_eWefemkgkXceg_ebl
rrr
[PG[3_jm-kfkddkhj3_jm_ZWb`Xc`glm[PBL3cj
Ofdkgkm%fiVjgaicjaim8i^kakhmDihSihjgm,kd\hcjaifF
_jfmbjU`fmZhb`Xc`glm[PBC3_jm,gkfak3_km^\dajd
6`bQ`gi^jcmMfHjaimVjmaZfgkaef_kmjWicibif hiakfamVjm_ZdcZgkaefem^kIbeXceglm[PB=3_jmOfdkgk
cZIh`bm^kIeaem\Ujgif_jdimjcdiaifi]mH`bQ`gi^jc %fiVjgaicjaimAWicibm:DihibhjgiNm,kd\hcjaifjmkaiaF
gjibif_jm^jciXcigihbjdmiacjfjfmifakfmbZ_jhifif ckfm Zhkgkdm SigbiXciglm [PCT3_jm _ZKjfc]m [P=R3_j
MUjhhidhjgifimkgkXceg_ebl IgZ9jaMgmZhb`Xc`gl
rrr E\gdmjWicibmckgiQimkhkfef_kmMfjbhimkgkXcegbkF
hkgm^kIbeXmZhkfm?kQ^kmOd^\U]mE\gdmjWicibmckgiQi
ihjmihSihimihdmdickYefem[PBB3_km,gkfak3_km^k^ebhkF
6`bQ`gi^jcm ;Mfjbif_jm jWicibjm k^gehkf beXceglm
Y\cKj]mY`mY\cKjfifmd`hhkfeh_eWem^jghjgmVjmjWicib @jf_im Zhkfkdhkgem ihjm OD;3_jm $fiVjgaic^m Z9
khkfef_km^kIehkfm^kcegebhkghkmihSihimVjgihjgimcZIF 6jfcgkhm,hZgi_km6ZhhjSjmZ9mA_`HkciZfm:?`fiVjgaici
hk_ebl Z9m8jfcgehm,hZgi_km@kheHmZ9mA_`dj^Xefm<jgdjU0
rrr ,hZgi_km%fiVjgaicjaimAWicibm,kd\hcjaiN_km!biak9ig
IgZ9jaMgmZhkgkdmkgkXcegbkhkgm^kIbeXcegl
[[
Tr Xpmqa
9Z V]_d`cd_ HbQbc[^
SYpWgephqnhdm[dfpknp;ghn]ldmdidn]hd_djdPrnM]jdYipOgkpmgjnlpmqanVqkqiqjeojnapj[qnCmjohkomeo
jpfgkn_pmpmkpjeghkpmgjgnVokqmko_omohnj]hlpkgnpkpjpn_pPgjgPr
Tr M]jdYipOgcn-ZH`dhkgefmjWicibmQk^kcefkmjgdjfmYkXhkbkae]mZfhkgefm_`^`XakhmVjmYihiXajhmSjhiXibimkKeF
aef_kfmY\^\dmMfjbmckXebkdck_eglmDiUmSjKbiXcjmYjXmkhcem^kXef_kdimKZH`dhkgefmaeY^kfmbjdcjYif_j]mQZHkfef
Mf\f_jmgkQhj_jm_iUmKMdjgjdmZc`g_`W`m_MfjbhjgimVjmY`f`fmKZH`dm\Ujgif_jdimjcdihjgifimYihi^Zg`Ul
EkgiQ]mcZIh`bakhmZhk^hkgemYjhSjhjgjm_k^kfkgkdmifHjhj^jfmYigmYihib_iglm;iWjgmaZa^khmYihibhjgjmZh_`W`mSiYi
E\gdmjWicibmckgiQifjm_jmVjgihjgma`fbkdck]m^jgFUkbkf]mfj_jfFaZf`KmihiXdiaimiKif_jmakQiImZh_`W`mYjhSjhjghjmZhk^
VjmZhS`hkgkmeXedmc`cbkdck_egl
[T
Hr =q_pfol
8Z V]_d`cd_ D`MacaWacd^
SYpWgepnUomqkojnYoip_gNnX`mhnoWqlqinlpmqaqnUonfq_pfolnVqkqiqnqkqYhqfqnp;gfgjepjnqjOoko_qjqPrn
?jfihidhjgm^kIehegdjf
OVg`Ikm\hdjhjgif_jf
DkUemjWicibmgj9ZgbhkgeF
AWicibmkhkfef_kmihdm^jfiF `UbkfhkgmSjcigihbiXcigl
fefm^kIehbkaef_k
hid]mkadjg0mZd`hhkg_km^kF OVg`Ikm_jVhjchjgifif
IehbeXcegl YkadeaemjcdihimZhb`Xc`gl
4abkfhem;jVhjci3fifmaZfm_Mfjbif_jmjWicibmkhkfef_kdim_jWiXidhidhjgifmai^kajcjmjcdiai
Dkce3_kmjWicibmSMgjf ?`gcm_eXefkmMWgjfHimSMfF
SjfKhjg]mbjXg`ci^jcm^MF _jgihigdjfm_jVhjchjgmkgkae
fjcibifjmSjKihbjaif_j ihiXdihjgmSMUmMf\f_jmY`F
jcdihimZhb`Xhkg_eg h`f_`g`hb`Xc`gl
?`gcm_eXef_kmjWicibmSMgjf
MWgjfHihjgmQ\ggi^jc]mjXichid]
_jbZdgkaimdkVgkbhkge^hk
ckfeXbeXhkg_egl
8i^kajcmYihibim_jVhjcifmMgS\chjfbjai]mKjXichim^MfjcibmYiKibhjgififmdkgXehkXcegehbkae]mkfk^kakmQ`d`d`mSiYi
khkfhkg_kdimKkheXbkhkgefm^kfemaegkmjWicibmIZhicidkhkgefefm_`g`b`f`m_kmig_jhjbjdcj_iglm%hdjbiUifmjWicibmIZhiciF
dkae]mSjhjHjdcjmSMg\hbjdmiacjfjfmifakfmbZ_jhifim^jciXcigbj^jm_k^khe_eglmD`]mbihh0mjWicibifmcjbjhmihdjhjgif_j
kKedKkmYjhigcihbiXcigl
Dr 0dhdh
7Z V]_d`cd_ HbQbc[^
X`mhniqkk'noWqlqiqjqjn_pfpkn;om;oUofqjqneoWomkojeqmiohnpipOg_kpNnSjp_pfp6igPepn_omnpkpjnoWqlqiko
qk[qkqnipeeokomeojneCme`j`npYpWgephqnpkpjpn_pPgjgPrn@dnipeeokomqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
Ofk^kak
[l
Tl
Ll
Gl
5`d`d]mcZIh`bakhmihiXdihjgim_\Ujfhj^jf]m`^`hbkaemUZg`fh`md`gkhhkgmY\c\f\_\glm5`d`dmd`gkhhkgefefm`^S`hkfF
bkaemiKifm^kakbkmZgSkfefHkm:E\gdi^jmD\^\dm<ihhjcm<jHhiaiNm^kakhkgmKedkgeheglmAWicibmd`g`bhkgefefmkKeheXe]miXhj^iXi
SiYimdZf`hkg]m^kakhm_\Ujfhjbjhjghjm^kIeheglmE\bm^kakhkg]mdk^fkWefemOfk^kak3_kfmkhegl
[L
?r =]f_]k]%qn(X]\kdin@qkqiq)
3Z V]_d`cd_ HbQbc[^
MpegjkpmgjnqYnap_plgjepnolhqjnm]kkomn]_jpip_pnVpYkpipfgnf]f_]k]%qhnVqmn]k[dedmrnSYpWgephqnYo9
ipepnVdn]k[d_dn]mlp_pn;ghpmpjnjoeojkomnUomqkiqYlqmrnMpegjkpmgjnl]\kdinUonqYnap_plgjepnolhqjnm]knpk9
ipfgjgjnoWqlqieonio_epjpn[olqmeqWqnf]jd;kpmgnj]hlpkgn_omkomon_pPgjgPr
[l @gjXhjgmkKeh_el
8kVkXhkgmfj_jfi^hjmjgdjdmKkheXkfhkgef
ak^eaefefmkUkhbkaem TlOfkZd`hhkgemVjmkfkF
@k_efhkgefmcZIh`bmVj aefe9hkgemkKeh_e
iXmQk^kcef_kmjcdifmgZh
khbkae Ll lllllllllllllllllllllllllll
EkgebmcZIh`b`f_kfmakfk^imcZIh`b`fk
SjKihbjai Gllllllllllllllllllllllllllllll
Jlllllllllllllllllllllllllllll
6`bQ`gi^jcm;Mfjbif_jmdk_efhkgkmaZaF
^khmQkdhkgefmVjgihbjai
AWicibmckgiQibiU_jdimYkUem`^S`hkbkhkgem_ZWg`mkfhkbkd]mYigckdebmaZg`fhkgkmKMU\bmY`hbkdmiKifmcZIh`bmYiF
hibif_jfm_jm^kgkghkfbkdmSjgjdbjdcj_iglm1UjhhidhjmjWicibmYihibhjgififmYigmkhcm_khemZhkfmjWicibmaZa^ZhZiai]mKjXichi
VjgihjghjmY`mdZf`_kdimSjgjdaifibhjgimdkgXehk^kYihbjdcj_igmjWicibmd`g`bhkge]mjWicibifm_iWjgmYihibhjghjmihiXdihjgi]
jWicibifmiXhj^iXi]miXhjVhjgi]mjWicibmd`g`bmVjmMgS\chjgififmaZa^khmMUjhhidhjgififmkKedhkfbkaemSiYil
7r ZWqlqi
/Z V]_d`cd_ ?b\][Ubc[^
AWicibmckgiQibiUmYZ^`fHk]mjWicibHihjgifmjWicibjmYkdeXmkKehkgemYigYigif_jfm9kgdhemZhb`Xc`glmD`m_`g`b]m!AWiF
cib_jm?MfcjbmdZf`a`f_km_kmSjKjghi_iglmAWicibifmdkgkdcjgiacidmMUjhhiWimiciYkge^hkmY`mSMg\Xhjgi]m!AWicib_jmd\hF
c\gjhmkdckgebmMfjmKedkglmVjm!AWicib_jmYihSim\gjcibimMfjmKedkglmSiYimidimcjbjhmfZdck_kmcZIhkbkdmb\bd\f_\gl
=qPOoNnoWqlqieonh`kl`mnphlpmgignignVqk[qn`molqiqniqnCjon;ghipkgegm3n=gjgJlpnqhqn[mdVpnp_mgkpmphni`9
jpPpmpnlohjqWq_konlpmlgYgjgPr
AWicibmYihibi]mifakfm_kVgkfeXhkgemVjmY`fhkgem_jWiXcigbjm^ZhhkgemihjmihSihjf_iWimiKifmQjbjfmQjbjfmc\bmYihib
_khhkgemihjm_ZWg`_kfm^km_km_Zhk^hemZhkgkdmihSihi_iglm@`gkb]m`^S`hkbk]mjWicibmd`g`bhkge]m_\X\f\ghjgmVjmjWicibHihjg
SiYimYihjXjfhjgimihjmjWicibmYihibimjWicibmckgiQififmQkgjdjcmfZdckaefemVjmcjbjhifimZh`Xc`gbkdck_eglm
[G
8r Zh]j]iq
+Z V]_d`cd_ ?b\][Ubc[^
SYpWgephqnlpVk]epNnLqkk'nZWqlqin@phpjkgWgjgjn[ojoknV`l;oeojnpkegWgn\p_kpmepjnVpPgn_gkkpmpnpql
]kpjkpmgnUomqkiqYlqmrn@dnlpVk]_pn[CmonpYpWgephqnf]mdkpmgnOoUp\kp_gjgPr
[l [PTLm^ehef_kmjWicibjmk^gehkfmIk^efm_\X\dmZhbkaefefmfj_jfhjgimfjhjgmZhkYihig.mEkgceXefeUl
Tl DkUem^ehhkg_kmjWicibjmk^gehkfmIk^efmkgcceWemSMg\hbjdcj_iglmD`f`fmajYjIhjgififmfjhjgmZhkYihjHjWim\UjF
gif_jmckgceXefeUl
?ehhkg 2jfjhm;jVhjcmD\cKjaim <ADmD\cKjaim:E#N 4gkfem:wN
[PTL [RPl[C= LlJCL L]T
[PJR [lG=ClTRP [CBlGGG [[]=
[PCL BRlPJLlRTL =lPT[lPPG [G]B
TRRJ [JLlPT=lCPTlP[R [Gl==TlTJPlJRR P]B
TR[[ L[TlJRRlRRRlRRR LGl[[Tl[BLlRRR [R]P
TR[J GCLlRRRlRRR BTlRRRlTG=lRRR [[lL
bjYlSZVlcg
>fakfhkgefmiQci^kKm_`^_`dhkgembkhmVjmQiUbjchjgifm\gjcibifi]mYMh\X\b\f\mVjmc\djcibifimdZf`mkhkfmYigmaZa^kh
YihibmZhkfmjdZfZbi]mjWicibm9kkhi^jchjgifim_jmjcdihjbjdcj_iglmAWicibmYihibimifakfmS\H\mdk^fkWefefmIhkfhkfbkae]
^jciXcigihbjaimVjmjWicib_jdimY\c\fmdk^fkdhkgefmjcdifmYigmYiKib_jmd`hhkfehbkaemdZf`hkgef_k]mbkhi^jcFVjgibmkfkhiUi
KkheXbkhkgef_kmjdZfZbimYihibififm^MfcjbmVjmVjgihjgif_jfm^kgkghkfegl
1r M`kl`mNnZeoVq_plNn=pjpl
)Z V]_d`cd_ -X`bc[^
8efe9efeU_km\KmSg`Ykmk^gehefeUlm2g`ImZhkgkdmjWicibmckgiQiFd\hc\g]mjWicibmckgiQiFj_jYi^kc]mjWicibmckgiQiFakfkc
ihiXdiaimdZf`hkgef_kfmYigifimdkIak^kfmYigma`f`mQkUeghk^efeUlm8`f`bm^kIbkdm\UjgjmYigmSg`ImaMUH\a\majKjgjd
KkheXbkfeUemaefe9efeUhkmIk^hkXefeUl
@\hc\g]mYigmcZIh`bkmVjmQkhdmcZIh`h`W`fkmMUS\m_\X\fHjmVjmakfkcmjajghjgififmY\c\f\_\glmD`fkmcZIh`b`f
dibhiWim_jm_jfihjYihiglm@\hc\g\fmiKif_jm_ih]mj_jYi^kc]makfkc]mckgiQ]mcZIh`bakhm^kIemSiYim`fa`ghkgm^jgmkheglm@\hc\g\f
d`Xkdckfmd`XkWkmkdckgebef_km_ihmVjmj_jYi^kcmY\^\dmMfjbmckXeglmAWicibmd`g`bhkgemVjmjWicibHihjgm_jmY`mkdckF
geb_kmMfjbhimYigmgZhjmakQiIcighjgl
[J
/
X,BMnZ&QXQLnXSBQ0QFQFnK2FZLGZBQ
Hazrlanalm
Tr ZWqlqinlpmqaqnjoeojneCjoikomonp_mgkpmphnqjOokojq_]mn]kpVqkqm3
Hr X`mhnoWqlqinlpmqaqjqneCjoikomonp_gmpmphnqjOokoiohNnjon[qVqnJp_epkpmnfpWkp_p9
Vqkqm3nXpmlgYgjgPr
JZ V]_d`cd_ FXcbc[^
SYpWgephqnlpVk]epnX`mhnoWqlqinlpmqaqjqjn`;npjpneCjoiqnUonVdneCjoikomeohqnh]jdnVpYkghkpmgnUo9
mqkiqYlqmrnXpVk]jdjnpklnhgfigjepnUomqkojnhokqiokomqjnapj[qneCjoin_pnepneCjoikomonpqln]kpVqkoOoWqjq
Vdkpmphnj]hlpkgn_omkomon_pPgjgPrn@pPgnCPokkqhkomnVqmeojnJpPkpneCjoionpqln]kpVqkqmr
T H D
E\gdmjWicibmckgiQififim_Mfjbhjgjmk^egbkd]m5`fhkg_kfmS\f\b\Ujmdk_kgdima\gjKcjmjWicibibiUifmaj^gifim_kQk
i^imSMgjYihbjbiUimakWhkglmE\gdmcZIh`b`f`m_jgif_jfmjcdihjbiXmZhkfmidimZhk^]m>ahkbi^jc3ifmE\gdhjgHjmdkY`h\mVj
H`bQ`gi^jcifmihkfe]mE\gdmjWicibmckgiQimkKeaef_kfm_km_Mf\bmfZdckaemZhkgkdmdkY`hmj_ihbiXciglmD`fkmSMgjmE\gd
jWicibmckgiQi]m\Kmkfkm_Mfjbjmk^gehegm:[Nm>hdmE\gdm;jVhjchjgif_jmAWicib]m:TNm>ahkbi^jc3ifm@kY\h\f_jfm8Zfgk
E\gdhjg_jmAWicib]m:LNm6`bQ`gi^jcm;Mfjbif_jmAWicibl
[B
BZ V]_d`cd_ FXcbc[^
SYpWgepnoWqlqinlpmqaqiqPeohqnVpPgn[okqYiokomnUonedmdikpmnUomqkiqYlqmrn4omohlqWqjeonhqlpVgjgPgjnqk[qkq
VCk`ikomqjon[CPnplpmphnVdjkpmgjnpqln]kedhkpmgneCjoikomqnCmjohlohqn[qVqnqYpmolko_qjqPrn@pPgn[okqYiokom
UonedmdikpmnVqmeojnJpPkpneCjoionpqln]kpVqkqmr
QkhnX`mh Qfkpiq_ol6qj
/diadmq_ol
4okqYionUonKdmdikpm KoUkolkomq MpVdk`jeoj
KCjoiq
KCjoiq =]jmphqnKCjoi
Oadjg0mVjmcjdfidmZd`hhkgmkKehegl ^ ^ ^
OihjfifmjWicib_jdimgZh\mMfjbhi_igl ^ ^ ^
AWicib_jmMWgjfHimbjgdjUhimcjdfidhjgmd`hhkfehbkUl ^
AWicib]m_jVhjcmZd`hhkgef_kmVjmIkgkaeU_egl ^ ^ ^
AWicib_jmVkckfmVjmbihhjcmajVSiaififmVjgihbjaimMfjbhi_igl ^ ^ ^
5khe]mdihib]mbk_jfmiXhjbjHihiWi]mbif^kc\gmSiYimkhkfhkg_k
SjhjfjdajhmjWicibmkWeghedck_egl ^ ^ ^
EjVQi_FimEj_giakcm@kf`f`m:1WgjcibifmDighjXcigihbjaim?kF
akaeNmKedkgehegl ^ ^ ^
EjbjhmkbkK]m!khImciIimifakfm^jciXcigbjdcigl ^ ^ ^
<ihhjcm<jdcjIhjgimkKehegl ^ ^ ^
;if0mjWicibmVjmfkdh0mYihibhjgjmMfHjhidmVjgihigl ^ ^ ^
5kg9m_jVgibim^kIehegmVjm#kcifmkh9kYjaifjmSjKihigl ^ ^ ^
D`S\fd\mkfhkb_kmihdm\fiVjgaicjm:;kg\h9\f`fNmkKehegl ^ ^ ^
AWicib_jm`ackFKegkdmihiXdiaimMfmIhkf_k_egl ^ ^ ^
E\gdmd\hc\g\fjmkicmYihifjfmjfmjadim^kUehemjajghjgmY`m_MF
fjbjmkiccigl ^ ^ ^
AWicib_jmQjbm`h`akhmQjbm_jmjVgjfajhm_jWjghjgmMf
IhkfkmKedkgl ^ ^ ^
[C
+
QGMnX,BMnKZ$GZXGZBQFKZnZ&QXQL
Hazrlanalm
Tr X]\kdikpmgjnf]f_pkNnoh]j]iqhNnfq_pfqnUVrn_p\gkpmgnoWqlqikomqjqnjpfgknolhqkom3
XpmlgYgjgPr
Hr SYpWgepn:mlpnSf_p6ephqnofhqnX`mhnl]\kdikpmgjgjn_pYpikpmgjepjnhofqlkomnfdjpj
[CmfokkomnUomqkiqYlqmrn@dn[CmfokkomqnqjOoko_omohnVCk[oeon_pYpignf`me`miohnq;qj
qalq_p;ned_dkpjniofkohkomqjnjokomn]kpVqkoOoWqjqnlpaiqjnoeqjqPr
AadimE\gdhjgifm^kXkbef_kfmYkUemdjaichjg
E\gdmjWicibmckgiQi]mYihifjfmihdmE\gdmcZIh`bhkge^hkmYkXhkglm
>ahkbi^jcmMfHjaim_Mfjb_jmE\gdm_jVhjchjgif_jfm\K\mMfmIhkfkmKedkgm5`f]m2Mdc\gdmVjm$^S`gm_jVhjchjgil
D`fhkgefmjWicibmSMg\XmVjm`^S`hkbkhkgef_kmSMg\hjfmcjbjhmMUjhhidhjgmX`fhkg_eg
QkhnX`mhnKoUkolkomqjeonZWqlqiqjnXoiokn2Pokkqhkomq
AWicib_jmcZIh`b`fmcMgjaimKZdmMfjbhi_igl AadimE\gdhjg_jmbjahjdimjWicibmMfjbhi_igl
D`m_Mfjb_jmMgS\fmjWicibmd`g`bhkgefefmY`h`fF ;eXkm_Mf\d]mkdefHe]mbjgcmYigmifakfmbZ_jhimZhkf
_`W`f`mSMacjgjfmdjaifmYigm_jhihm^Zdc`gl !khImciIifjmMfjbmVjgihigl
[=
Tr 0djkpmepnZWqlqi
Oa^km5`fm;jVhjcim_Mfjbi]mE\gdmjWicibmckgiQif_jmihdmYjhigSifm`^S`hkbkhkgefmSMg\h_\W\mUkbkfm_ihibi_igl
1Ujhhidhjm<jcjm5kfmUkbkfef_k]mS\Kh\mYigmZg_`^`mVjmS\Kh\mYigmcZIh`b`mQj_j9hj^jf]mjcdifmVjm_iaiIhifhimYigmjWicib
^kXkbefefmY`h`f_`W`mYihifbjdcj_iglmDigmc\gm^k^SefmjWicibmficjhiWimckXe^kfmY`m^kIefefmcjbjhmkbkKhkgemkXkWe_k
VjgihbiXcig
(m2MKjYjm^kXkbmckgUefkm`^S`fmVjm_ifkbidmYigmcZIh`bmZh`XF
c`gbkd
EZIh`b
AWicibi ( DkWebaeUm^kXkbk^emi_jkhmj_ifbiX]mHjakgjchimVjm_k^kfeXF
bkHemYigmcZIh`bmZh`Xc`gbkdmVjmY`mkbkKhkmcZIgkWefmd`cakhheF
Wefem^jfimfjaihhjgjmdkVgkcbkd
(m;eXmcjQ_ichjgjmdkgXemMfhjbmkhbkd
Oadjg0 (m2\Kh\mYigmkadjg0m^kIemZh`Xc`gbkd
AWicib
(mAhimaihkQmc`ckfmQjgmE\gd3\mkadjg0mjWicib_jfmSjKigjgjdmcZIF
h`b`makVkXkmQkUegmc`cbkd
(m5k^Vkfm\g\fhjgififmiXhjfbjaim:jc]ma\c]md\gd]m_jgi]m^\fNmVj
Qkhem_Zd`bkHeheWefkm^MfjhidmjWicibm^kIehbkaefemakWhkbkd
<jahjdim
AWicib
(m<k_jfmiXhjbjmkhkfef_kmbjahjd0mjWicibimMfmIhkfkmKedkgF
bkd]mZg_`f`fmiQci^kHemZhkfmZdmVjm^k^m^kIebefemMWgjcbjd
(m>dci_kgefmVkgheWefemS\Khjf_igbjdmVjmIjdiXcigbjdmiKifm_if0
;if0 bZci9hjgimd`hhkfbkd
AWicib
(m kbkf]mdkbmk_emVjgihjfm_ifmk_kbhkgemVkaeckaemihjm^kIehkf
_if0mcMgjfmVjmk^ifhjghjmQkhdemjWicbjd
[P
JZ V]_d`cd_ ?b\][Ubc[^
SYpWgephqniolqjeon:mlpnSf_p6ephqnofhqnX`mhnl]\kdikpmgjgjn_pYpigjepjnVqmnhofqlnUomqkiqYlqmrnLoljq
]hdedhlpjnf]jmpneCjoiqjnoWqlqinJppkq_olkomqjqjnapj[qnpkpjkpmepn_]WdjkpYigYn]kpVqkoOoWqn`Pomqjo
pmhpepYkpmgjgPkpnlpmlgYgjgPrn
chbg!!dch`d!!g!gh
h!g!\gc]!bheV!dVbWh
egaO !fh\bh fhWhd![c!ch`!g!
degaO e`\X _[c f\[c`\e X
h`_!f[dVbfcXg]f!hdh!
` ga
b\[bT_Vbbe!]Z` be!ch
d!gee[!gaUbe!hg!gh ga
Ub]hg!d!_fede!gh[Yh[cfd
`e!d] chcc^!XWef
eVga
ch\_X^gfhega9]hb!!
Xh`!!h g^_ec]Xhbf hhd
W! !g^ dch _\ d_` f!_d
WQ!g[Zga
UdVb TTe \gfMd_`[]d]!
^!gegachYeX]!gh\Z_hh_d_`e Xh!hbebga
RO!gb\Odb_\Od\da;=2aS
Hr 4Chl`mhkomeonZWqlqi
2Mdc\gdm;jVhjci]mIjdmKZdmkKe_kfmOa^km5`fm;jVhjci3fifm_jVkbemSiYi_iglmD`mfj_jfhjm5`fhkgefmVjm2Mdc\gdhjgif
jWicibmkfhk^eXmVjm`^S`hkbkhkgemkgkaef_kmYjfUjghidhjgmSMg\hbjdcj_iglmD`f`fhkmYighidcjmjhibiU_jm2Mdc\gdhjgj
kicm^kUehemjajghjgifmY`h`fbkae]mE\gdmjWicibmckgiQimkKeaef_kfmZfhkgem5`fhkg_kfm9kgdhemdehbkdck_eglmD`h`fkfm^kUehe
jajghjgmVjmd`hhkfehkfm2Mdc\gdmkh9kYjai]mY`m_Mfjb_jm^kUefefmjWicibmkgkHemZhkgkdmd`hhkfeh_eWefefmVj^km^kUemjWiF
cibififmVkgmZh_`W`f`fm_kmYigmdkfece_eglm
4Chl`mhkomeo
2Mdc\gd ZWqlqiq
kh9kYjaifif @q;qikojeqmojn DZUdegm^kXkbe
d`hhkfehbkae Zlhojkom
2Mdc\gdhjgm_MfjbimjWicibififmMWgjcimVjmQj_j9hjgifimZgck^kmdZ^kfmjfmMfjbhimdk^fkd]m4gQ`fm?kUechkge3_egl
D`m^kUechkg]m_MfjbimQkddef_kmYihSimVjgbjdhjmdkhbk^eImSjhjHjWjmihiXdifm`^kgehkge^hkmcZIh`bkmVjmhi_jghjgjm^Zh
SMacjgbiXciglm2\f\b\U_jm<ZWZhiackfmaefeghkgemiKif_jm^jgmkhkfm4gQ`fm?kUechkge]mihdm_j9km;kfibkgdkhem/ihQjhb
EQZbajfm:EZbajfNmckgk9ef_kfm[=PLm^ehef_kmZd`fb`Xc`gl
TR
BZeV]_d`cd_ HbQbc[^
SYpWgepn:madjnApPglkpmg6jepjnVpPgniofp%kpmpn_omnUomqkiqYlqmrnSlpl`mh6`jn4oj;kqWon0qlpVofqjeoj
VdkpOpWgjgPnVojPomniofp%kpmgNnj]hlpkgn_omkomonCmjohlohqn[qVqn_pPgjgPr
4gQ`fm?kUechkge]m\KmdiXimk_efkm_idihbiXm_MgcmckXmkfecckfm:DihSjm@kWkf]m@\hciSif]mEZf^`d`dmOfecF
hkgeNmZh`X`glmD`mckXmkfechkg]mQkhdefmSMgjYihjHjWimYigm^jgjm_idihbiXcigmVjm\Ujghjgif_jmQkhdkmQickYjf
^kUehbeXmbjcifhjgmY`h`fbkdck_eglm
EZf^`d`dmOfece
:madjnApPglkpmg6jep 4oj;kqWon0qlpVo6eo
?edehbeXmVjm^ZdmZhbkdm\UjgjmY`h`fkfmbihhjcibim_iF lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
gihcjgjdmfkaehmVkgmjcciWibimY`mckXkm^kU_eblmD`mckXemZd`F
^kgkdm SjgKjdhjgim Yihiflm Ogcedm ajfim ^edbkd]m ajfim ^Zd lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
jcbjdmiacj^jfm_\Xbkfhkgefkmkh_kfbkbkheaefl lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
4fhkg_kfm aZfgkm Sjhjfm YihSiaiU]m \hd\a\Um dkWkfhkg
ckQckmKedeIm\hdjfifm_\Ujfifi]m`h`a`fmcMgjaifimYZU_`hkgl lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
-ifm\hdjaimiKif]m-ifm`h`a`f`fmb`ch`h`W`miKif]mE\gd lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
jghjgim-ifm\hdjaififm_\XbkfhkgefkmdkgXemakVkXkmaZd`hF lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
_`hkglmE\gd3\fmjSjbjfhiWi]m^`g_`mVjmcMgjaim`f`c`h_`l
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
-ifhihjgmaiUjmS\UjhmaMUhjghjmVjmS\hjgm^\Uhjm^kdhkXeg] lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
QkcckmkhcefmS\b\X]miIjdmVjm_kgemSiYim_jWjghimXj^hjgimYZh lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
VjmdZhk^hedhkmVjgjgjdmMfHjmdiXihjgi]maZfgkm_kmbihhjchjgi
jaigmj_jghjgl lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
A^mE\gdmbihhjci]m^ifjmY`mQj_i^jhjghjmVjmckchemaMUhjghj A^mE\gdmSjfKhiWitmDigifHimVkUi9jf]mE\gdmiacidF
dkfkHkdm Zh`gakfm ^Zdm ZhkHkdaeflm ?kXkbkf]m \hdjf_j hkhifi]mE\gdmH`bQ`gi^jcifimihjhjYjc]mb`Qk9kUkmVj
YighiWimdZg`bkfkmYkWhe_egl b\_k9kkmjcbjdcigl
T[
Dr ._[dmkpmepnZWqlqi
OXkWe_kdimXjbk_km$^S`gmjWicibifjmjcdimj_jfm9kdcMghjgmSMacjgihbjdcj_iglmE\gdmjWicibmckgiQif_j]mjWicib_j
d`g`bakhhkXbkfefmYkXhk_eWem$^S`ghkgm;Mfjbififmk^gemYigmMfjbimVkg_eglmD`m_Mfjb_jmIhkfhemVjmMgS\fmjWicibj
SjKihbiX]m$^S`gmkh9kYjaimVjmbkcYkkmd`hhkfehbeXcegl
;ifmk_kbhkgefefmcZIF
h`b_kmjWiciHimgZhm\acF -jVgjmd\hc\ghjgifmifF
hjf_iWim Y`m _Mfjb_j Hjhjfbjaim Vjm Qkcck
iYk_jcQkfjhjgmd\c\IF dkY`hm j_ihbjai]m jWiF
QkfjmZhkgkdmVjmjWicib cibm kfhk^eXefem UjfF
kbkKhem_kmd`hhkfeh_el SifhjXcig_il
@)ciIhid]m_kfeXbkfhed] $^S`g
jhKihidm SiYim SMgjVhjgj kh9kYjaififmZgck^k
MfjbmVjgih_il KedeXe^hkmjWicibm_kQk
aiacjbhimQ)hjmSjh_il
._[dmkpmep <kcYkkfef
?jghjXidm
ZWqlqiqjn2Pokkqhkomq d`hhkfehbkae]mjWicib
Qk^kckmSjKihbjai] VjmMWgjcibifmMfjbhi
jWicibifmd`g`bakhF kgkKhkgef_kfmYigimZhkf
hkXbkaefemakWhk_el dickIhkgefmKZWkhcehF
bkaefemdZhk^hkXceg_el
9Z V]_d`cd_ D`MacaWacd^
QkhnX`mhneoUkolkomqjeonl]\kdidjnoWqlqinpjkp_gYgjpnUonoWqlqinpkpjgjephqnd_[dkpipkpmpnolhqnoeoj
VpPgnegYnolhojkomneonioUOdlldmrn@djkpmnaphhgjepnVqk[qnoeqjiohnq;qjnpYpWgephqnYoip_gnqjOoko_qjqPr
QkhnX`mhnKoUkolkomqjeonZWqlqiqnZlhqko_ojnKgYnZlhojkom
E\gdmKZH`dhkgefefmjWicibif_j]mE\gdhjgj E\gdmYj^hjgi^hjmjVhjfjfm-ifhimIgjfajahjgif
jaigm_\Xb\Xm^kYkfHembjb`ghkg_kfm^kgkgF Sjcig_iWi]m-ifmd\hc\gmVjmjWicibifjmkic
hkfehbkaem:ajgYjacmYegkdehbkdmXkgce^hkN 9idighjg
-jXichimfj_jfhjghjmE\gdm_jVhjcifjmaeWefkf
-ifHj_jfm^kIehkfmKjVigihjg -ifhim_\X\fHjmk_kbhkgefefmjcdihjgi
E\HHkghkgmVkaeckae^hkmbj^_kfkmSjhjf -if3_jfmSjhjfmVjm-if3jmSi_jfm_iIhZbkchkgef
d\hc\gmkdckgebe jcdihjgi
TT
>ahkbi^jc3cjfm1fHjdimE\gdhjg_jm?jciXcigihbjdm>acjfjfm>_jkhm>fakfmEiIi
5`fmckgiQimihjmkgkaef_kdimY\^\dm^kdefhedckfm<1m77lm^\U^eh_km_ZW_`W`mkfhkXehkfm5`fF4W`Um;jackfe]m<8
777lm^\U^eh_km^kUe^kmSjKigihbiXciglmOaeghkgmYZ^`fHkmHkfheheWef_kfmYigmXj^mdk^Yjcbj_jfm^kXkbkae]mY`m_jackfef
E\gdm`h`a`fHkmfjm_jgjHjmYjfibajf_iWifimSMacjgbjdcj_iglm;jackfefmdkQgkbkfem4W`Um@kWkf]m>ahkbi^jc3ifmdkF
Y`h\f_jfmMfHjdimE\gdmcZIh`bhkgef_kmi_jkhmifakfmciIifimajbYZhiUjmj_jfm!khIkmi^imYigmMgfjdcigl
L^]^!Jd !!g!
F
RL^]^!S dcc[cg\
!___gaCc!g!_[X
g!db!e^ bga
L Z^g\ bg cech bf!
_gaaa Ue [! _ _ g
Z! h` Zbh a U bf!! Z!g
cech[[g!_gaO dcc!_
Wh ega Ucech _ ef! X!
_ga O^ ]e Wh ]f` a
L^]^!\XdgfgaU[
[g!_fhd gaCc!g![c!
_Zh a[\ee\bh\hZ_hh!
_[ a
F
Eb! gg h0 @RC[g!S [e^
eg\ ee ega [f b! Ygcgc6
gfbdRbg^Z!SaC[g!
gb^!ega?ef\bhfb!Ygcgc6
hbdRbg^Z!SaAgg\[ a
F
REbed\daHKIaS
Ejbaih0mgjaibm4W`U3`fmHkfkVkghkmb\Hk_jhjai
8ZeV]_d`cd_ HbQbc[^
Trn:WdPnMpWpjnKoflpjg6jepjnpkgjpjn_dhpmgephqn\pm;pepnQfkpiq_ol6qjnhpVdk`jeojnCjOohqnX`mhnl]\9
kdikpmgjepnVojqifojojnqeopknqjfpjnlq\qjqjnVpPgnCPokkqhkomqnVdkdjiphlpegmrn@djkpmgnlof\qlnoeomohnpYp9
Wgephqnj]hlpkgnpkpjpn_pPgjgPr
HrnKoeonM]mhdln0qh#_okomqNnLpjpfnUonX`mo_qYn[qVqnX`mhneoflpjkpmgjgnqjOoko_omohnpk\nlq\qjqjnCPok9
kqhkomq_konqk[qkqnVqk[qkomqjqPqneomqjkoYlqmqjqPrn.kpYlgWgjgPnf]jd;kpmgnpmhpepYkpmgjgPkpn\p_kpYgjgPr
TL
7ZeV]_d`cd_ D`MacaWacd^
SYpWgephqnhpUmpinapmqlpfgjgnqjOoko_omohnqkhnX`mhneoUkolkomqjeohqnoWqlqiqjnloioknCPokkqhkomqnaphhgjep
;ghpmgikpmepnVdkdjdjdPrn+ghpmgikpmgjgPgnj]hlpkgnpkpjpnipeeokomna#kqjeon_pPgjgPr
QkhnX`mhnKoUkolkomqjeonX]\kdin0p_plgnUonZWqlqi
Ocm^jciXcigbj
5k^VkfHehed DkWebaeU
^kXkbkmkgU`a`
;Zd`bkHehed
Oadjg0mjWicib
2MKjYjm^kXkb
;jgiHihid
Ekgeb
EMgj
DZUdegmakfkce ;if0
ifkfeXhkgm:2Md
EkfgemifkfHeN
4Ykmd\hc\g\
;jbigHihid ?Mfjcbjm^jcdiai
TG
0cC^aeOaeAaPa\ca`Yd\^a
SrnSYpWgephqnf]mdkpmgnOoUp\kp_gjgPr
Tr E\gdmjWicibmckgiQifimifHjhjbjfifm9k^_khkgemfjhjg_ig.
Hr AWicibmmcZIh`b`mfkaehmjcdihjg.m
Dr AadimE\gdmcZIh`bhkgefefmjWicibmkfhk^eXemVjm`^S`hkbkhkgefemjcdihj^jfm9kdcMghjgmfjhjg_ig.
@rnSYpWgephqn;]hlpjnfo;iokqnf]mdkpmgnOoUp\kp_gjgPr
TrnSYpWgephqkomeojnapj[qfqnX`mhnoWqlqinlpmqaqjqjnqjOokoionpkpjgjpn[qmioP3
ONmE\gdmcZIh`bhkgefefmjWicibmkfhk^eXhkgemVjm`^S`hkbkhkgem
DNmE\gdmcZIh`bhkgefefm^k^SefmjWicibmd`g`bhkgemVjmMUjhhidhjgim
6NmE\gdmcZIh`bhkgefefmMgS\fmjWicibmd`g`bhkgemVjmMUjhhidhjgi
;Nm;iWjgmcZIh`bhkgefmjWicibmkfhk^eXhkgemVjm`^S`hkbkhkge
ANmE\gdmcZIh`bhkgefefm_jgamIgZSgkbhkge
HrnSYpWgephqkomeojnapj[qfqnofhqnX`mhnl]\kdikpmgjepn_olqYlqmqkiohnqflojojnqeopknqjfpjnlq\qjeonVd9
kdjipfgn[omohojnloioknCPokkqhkomeojnVqmqneoWqkeqm3
ONm6jakgjchimZhbkd
DNm8kfkcd)gmZhbkdm
6NmOQhkdhemZhbkd
;Nm8kVkXKemZhbkd
ANm2\Kh\mZhbkdm
Dr 7lm2Mdc\gdmkh9kYjai^hjm^kUehbeXcegl
77lm%KmdiXimk_efkm_idihbiXm_MgcmckXmkfecckfmZh`Xbkdck_egl
777lm>hdm_j9kmEQZbajfmckgk9ef_kfmZd`fb`Xc`gl
7/lmE\gdm_ihimVjmckgiQimkKeaef_kfmjfmMfjbhimdk^fkdhkg_kfmYigi_igl
/lm2\f\b\U_jm'`a^km,j_jgka^Zf`maefeghkgemiKif_jmY`h`fbkdck_egl
:madjnApPglkpmgnqkonqk[qkqn_dhpmgepnUomqkojnVqk[qkomeojnapj[qfqn_pjkgYlgm3
ON7 DNm77 6Nm777 ;Nm7/ ANm/
?r mOihjmjWicibimMfjbhi_igl
m;MfjbhjmihSihim^kUehemdk^fkdhkgmkU_egl
mOadjg0mjWicibmMfjbhi_igmVjmkhImciIimifakfmbZ_jhimVkg_egl
m2jhjfjdajhmjhmakfkchkgem:Qkhe]mdihibm_Zd`bkHeheWemValNmjWicibimVkg_egl
mAWicibmaiacjbifimSMKjYjm^kXkbmYjhighjbiXcigl
AdhpmgephqnCPokkqhkomNnpYpWgephqnX`mhnl]\kdikpmgjepjnapj[qfqjonpqllqm3
ONm8jhK`dh`hkg DNm$^S`ghkg 6NmOa^km5`fhkge
;Nm@kgkQkfhehkg ANm4abkfhehkg
7rnSYpWgephqkomeojnapj[qfqnX`mhnoWqlqinlpmqaqnqkone]WmdepjnqkqYhqkqn]kpjnVqkqinepkkpmgnUonpkpjkpmepj
VqmqneoWqkeqm3
TJ
/rnSYpWgepnUomqkojnfCPO`hkomqnV]Ykdhkpmpnd_[djn]kpmphn_omkoYlqmqjqP
0dhdhNnQkhnX`mhnKoUkolkomqnKCjoiqNnQfkpiq_ol6qjnMpVdk`jeojn=]jmphqnKCjoiNnf]f_]k]%qNnoWqlqiNn/diadmq_olnKCjoiqNnlpmqa
Tr AWicibmckgiQi]mllllllllllllllllllllmVjmllllllllllllllllllllmYihibm_khhkgefefmYigmkgk^kmSjhbjai^hjmZh`Xb`XmYigmYihib_igl
Hr AWicibhjmihSihim^kakhm_\Ujfhjbjhjgifm^kIehbkaefemVjm`^S`hkfbkaefemakWhk^kfmYihibm_khemzzzlllllmZhkgkd
k_hkf_egehbkdck_egl
Dr EZIh`bhkgefmMUjhhidhjgifimifHjhj^jgjdmjWicibmckgiQifjm^kg_ebHemZhkfmYihibm_khefkmzzzlllllll_jfbjdcj_igl
?rn E\gdm jWicibm ckgiQi]m \Km _Mfjbjm k^gehkgkdm ifHjhjfiglm D`fhkgm lllllllllllllllllllllllllllllllllllllllllllllllll]
llllllllllllllllllllllllllllllllllllllllllllllllll]mlllllllllllllllllllllllllllllllllllllllllllllllllllllm
7rnOXkWe_kmMUjhhidhjgimVjgihjfm4gckmOa^kmjadimE\gdmcZIh`bhkgefefmiaibhjgifimfZdckhem^jghjgjm^kUefeUl
m4g_`_kmZfh`maiacjbjmSjKbiXhjg_igl
m Zgm ^kXkbm Xkgchkgem Vjm YkWebaeUm ^kXkbkm iacjdhjgi
lllllllllllllllllllllllllllllllll
akVkXKemMUjhhidhjgifimSjhiXcigbiXcigl
m1gS\fmjWicibmd`g`bhkgefefmVkgheWefemSMacjgjfmYigmdkfec
Y`h`fbkbkdck_egl
m?jghjXidm^kXkbkmSjKiX]mjWicibmkfhk^eXhkgefemjcdihjbiXF
cigl
m@jf_ihjgifjmkicmkh9kYjhjgimVkg_egl lllllllllllllllllllllllllllllllll
m<kYjchjgimk^femUkbkf_kmd\c\IQkfjmZhkgkdm_kmd`hhkfF
beXhkg_egl
m@jf_ihjgifjmkicmkh9kYjhjgimVkg_egl
m5khdkmQickYjf]mMW\cmVjgbjmkbkKhemdickYjhjgm_idbiXF lllllllllllllllllllllllllllllllll
hjg_igl
SYpWgephqnf]mdkpmgjnOoUpVgn]kpjnhpUmpikpmgnlpVk]epjnfo;q\naomnVqmnf]mdjdjnhpmYgfgjpn_pPgjgPr
klmE\gdhjgifm>ahkbi^jcmMfHjaif_jmd`hhkf_edhkgemkh9kYjhjgmQkfSihjgi_ig. llllllllllllllllllllll
YlmOhImciIififmakQiImZhbkaemSjgjdjfmMUjhhidhjgmQkfSihjgi_ig. llllllllllllllllllllll
Hlm>ahkbi^jcmMfHjaim_Mfjb_jmE\gdhjgifmMfjbmVjg_iWimbkfjVim_jWjgmQkfSiai_ig. llllllllllllllllllllll
KlmE\gdhjgifmYihifjfmjfmjadim^kUehemYjhSjhjgimQkfSihjgi_ig. llllllllllllllllllllll
_lm>ahkbi^jcmMfHjaimE\gdhjg_jm`ackFKegkdmihiXdiai^hjmMWgjfihjfmbjahjdhjgmQkfSihjgi_ig. llllllllllllllllllllll
+rnSYpWgephqnO`ikokomqjnVpYgjpn_pm[gkpmne]WmdnqfonKNn_pjkgYnqfonAn_pPgjgPr
:mmmmNmE\gdhjgifm^jghjXidmQk^kckmSjKbjhjgi]mjWicibmkfhk^eXhkgefem_kmjcdihjbiXcigl
:mmmmNm>ahkbi^jc3ifmdkY`h\f_jfmaZfgkdim_Mfjb_jm_jackfhkg]mE\gdmQkhdmjWicibif_jmMfjbhimgZhmZ^fkbeXcegl
:mmmmNm5`fhkg]m-ifmjWicibmaiacjbifimbZ_jhmkhbeXcegl
:mmmmNm5jgmcZIh`b]mjWicibmaiacjbifimYkXdkmcZIh`bhkg_kfmjcdihjfjgjdmZh`Xc`g`gl
:mmmmNmAWicibmckgiQi]mckgiQmYihibif_jfmjcdihjfbiXcigl
:mmmmNmE\gdhjgifm^kXk_edhkgemkhkfhkgefmHZWgk9imMUjhhidhjgif_jfm_Zhk^emkadjg0mjWicibmMfmIhkfkmKedbeXcegl
TB
Q X Z
Hrn ,F
Q=GSLQAZX6QFnMS@.G,FKZF
=:FBSnX,BMGZBKZnZ&QXQL
M]jdkpm
SrnQfkpiq_ol6qjnMpVdk`j`j
X`mhnX]\kdidjpnZlhqkomq
@rnMpmpapjkgkpmepnZWqlqi
/rn=ok;dhkdkpmepnZWqlqi
+rn:fipjkgnKoUkolq6jeonZWqlqi
S
Q=GSLQAZX6QFnMS@.G,F,FnX,BMnX:!G.L.FSnZXMQGZBQ
Hazrlanalm
[lmDigmcZIh`b_k]m^jfimYigm_ififmdkY`hmj_ihbjai^hjmfjmSiYim_jWiXidhidhjgmbj^_kfkmSjhjYihig.
TlmE\gdhjg_jm^jciXcigihbjdmiacjfjfmi_jkhmifakfmciIif_jm>ahkbi^jc3ifmdkY`h\mihjmfkaehmYig
_jWiXibmZhb`XmZhkYihig.
JZeV]_d`cd_ HbQbc[^
-jXichim_if0mifkfeXhkgkmakQiImZhkfmE\gdmcZIh`h`dhkgefefm>ahkbi^jc3imdkY`hma\gjHi]
Ekhkam8kVkXem:CJ[NmihjmYkXhkbeXceglmEkhkam7gbkWemde^eaef_kmSjgKjdhjXjfmakVkX]mOYF
hkgk
YkaihjgmVjm-ifhihjgmkgkaef_kdimQ)dibi^jcmb\Hk_jhjaif_jfmdk^fkdhkfbeXceglm8kVkXck DkUem dk^fkd
< \a h\ b kf
E\gdmYZ^hkge]mOYYkaihjgifm^kfef_km^jgmkhbeXmY`mZhk^_kfmaZfgkmd`g`hkfmi^imihiXdihjg SMgjmihdm
dm cZ Ih `h `W `m >cih
ak^jaif_jm>ahkbi^jc3imckfe^kfmYkUemE\gdmYZ^hkgemY`m_ifjmSigbiXhjg_iglm@kgh`d]m?kWbk E\g
egl
Vjm-iWihmYZ^hkgemY`m^jfim_ifimdkY`hmj_jfmihdmE\gdmcZIh`h`dhkge_eglm>hdm<\ah\bkfmE\gd D`hSkghkge3_
_jVhjcim_jmY`mYZ^hkgmckgk9ef_kfmd`g`hkfm@kgkQkfhem;jVhjci3_igl
SYpWgepnX`mhkomqjnQfkpiq_ol6qnhpVdk`jonqkqYhqjnVpPgnf]mdkpmnUomqkiqYlqmrn@dnf]mdkpmgjnOoUp\kpmgjg
j]hlpkgn_omkomon_pPgjgPr
X`mhkomqjnQfkpiq_ol6on4o;qYn=`moOq
?kf_kdimXjbk_kmihdmE\gdm_jVhjchjgim_MF
fjbif_jdim^k^Sefm_if0mifkfeXhkgmVjgihbiXcigl X]\kdkdhnSeg KqjnUonQjpjgY
D`m_ifhjgifmYjfibajfbjaif_jmQ\d\b_kgF
hkgef]m \hdjhjgifm HZWgk9im dZf`bhkgefefm Vj 5`fhkg]m2Mdc\gdhjg 2MdmEkfgemifkfHemVjm kbkfiUb
dZbX`m\hdjhjghjmd\hc\gmjcdihjXibififmY\^\d
jcdiaimVkg_egl $^S`ghkg D`_iUbmVjm<kfiQkiUb
>ahkbi^jc3ifm E\gdhjgm kgkaef_km dkY`h\
/777lm^^l_kmYkXhkbeX]m4W`UhkgefmdichjhjgmQ)F <kHkghkg]mD`hSkghkg 5giaci^kfhed
hif_jmY`m_ifjmSjKiXimlm^^l_kmZhb`Xc`glm>aF
hkbi^jc]m4W`UhkghkmOfk_Zh`mHZWgk9^kaefk 5kUkghkg <`ajVihid
_km^k^ehbeXcegl
>ahkbi^jc3jmSjKiXimiUhj^jfmihdm^ehhkg_kmjadim4gckmOa^kmd\hc\gmVjmSjhjfjdhjgififmE\gdhjgm\Ujgif_jdimjcdiai
a\gb\X]m_kQkmaZfgkdim_Mfjbhjg_jmiajmY`mjcdimkUkhbeXcegl
T=
BZeV]_d`cd_ a``e"a^bS[WcbeD`MacaWacd^
SYpWgephqnYoipjgjnSnh`iofqjeonofhqnX`mhneoUkolkomqjeohqneqj'nqjpj;kpmgjNn@nh`iofqjeonqfonQfkpi
eqjqjqjnloioknVpPgnCPokkqhkomqnUomqkiqYlqmrn/nh`iofqjeohqnCPokkqhkomeojn_]kpn;ghpmphnX`mhkomqjnQfkpiq_ol6o
[o;qYqjqnh]kp_kpYlgmpjnolhojkomkonqk[qkqnjokomnfC_ko_oVqkqmfqjqP3
6
O
D
mEjdmckfgemifkfHe
m EkYikcmS\Khjgifj mOQhkdmkfhk^eXe
ifkfbk m@`gYkfmdjabjm m"j^SkbYjghjgjmibkf
m;if0mk^ifhjg mOQigjcmifkfHe m@`cakhmdickIhkgkmibkfm
m;ifajhmficjhidhimdiXihjgj mEjVQicmifkfHe
mOckhkgmd\hc\
ak^Sem_`^bk
O o D n 6
9ZeV]_d`cd_ @b\U[cbU][\bc[^e
SYpWgepnVqmqnqkhnX`mhneoUkolkomqneCjoiqjeojNneqWomqnQfkpiqneCjoieojn]kiphn`PomonqhqnX`mhneoU9
kolq_konqk[qkqnmofqikomnUomqkiqYlqmrn0`h`iepmkpmgjn[Cm`j`ikomqNnqfqikomqnUon`khokomqjnVp_mphkpmgjgnqj9
Ooko_omohnVdkedWdjdPnVojPomkqhnUonJpmhkgkghkpmgnpYpWgephqnj]hlpkgnpkpjpn_pPgjgPr
$^ S`gm;jV hjci @ k g k Q k f h e m ; j Vh j c i
$^S`gmDk^gkWe @kgkQkfhemDk^gkWe
@X]cXLe@TceFdcLae@bPb`
-b]X_eFXP\be'b`
2jn+pkgYipb:hdknKgYgcn8efe9ebeU_km_MgcmdiXihidmSg`Ihkgkmk^gehkgkdm@kgkQkfhem_MfjbimjWicibmd`g`bF
hkgefem:bj_gjaj]mcjddjFUkVi^j]mHkbiFbjaHic]mbjdcjINmkgkXcegkhebm:LJlmak^9k_kdimTlmjcdifhidmiKifNl
TP
8ZeV]_d`cd_ Fa`d^e,K\TUT^
SYpWgephqnCjomiokomkonqk[qkqnfo;ojohkomeojnd_[djnVdkedhkpmgjgPgnunqkonqYpmolko_qjqPrnApjglkpmgj
apj[qnCjomiokomeonUonjpfgkn_]WdjkpYlgWgjgnlof\qlnoeq\ndkpYlgWgjgPnf]jd;kpmgnfgjgJgjgPephqnpmhpepY9
kpmgjgPkpn\p_kpYgjgPrn
8Za^khm^kXkbmckgUefemjcdihjgl
^ ^ ^
5`d`dmaiacjbifimjcdihjgl
^ ^ ^
;jVhjcmaiacjbifimjcdihjgl
^ ^ ^
@\hc\gmVjmakfkcemjcdihjgl
^ ^ ^
AWicibmaiacjbifimjcdihjgl
^ ^ ^
;jVhjcifm_eXmIZhicidkhkgefemjcdihjgl
^ ^ ^
;jVhjcifmiKmIZhicidkhkgefemjcdihjgl
^ ^ ^
;ihmVjmj_jYi^kcemjcdihjgl
^ ^ ^
AdhpmgephqnldldinCk;oWqjqjnUomqkomqjeojn_]kpn;ghpmphnX`mhkomqjnQfkpiq_ol6qnhpVdk`jeojnf]jmphq
eCjoieonio_epjpn[okojneoWqYqhkqhkomkonqk[qkqnjokomnfC_ko_oVqkqmfqjqP3nK`Y`jOokomqjqPqnpYpWgephq
j]hlpkgnpkpjpn_pPgjgPr
;ifmVjmifkfeX]md\hc\gmVjm`^SkgheWefmZh`Xbkaef_kmgZhmZ^fk^kfmcjbjhm`fa`ghkg_kf_eglm*icjdibm>ahkbi^jc3if
dkY`h\f_jfmMfHjdimE\gdmcZIh`bhkgefefmai^kai]maZa^kh]mjdZfZbidmVjmd\hc\gjhm^kIehkgefefmXjdihhjfbjaif_jm_j
_ifmVjmifkfeXefmMfjbhimYigmgZh\mVkg_egl
?jfimYigm_ifimYjfibajbjd]mZm_ififmjcgk9ef_kmSjhiXjfm`^SkgheWefm\^jaimZhbkdmkfhkbefkmSjhiglm1gfjWifmE\gdhjg]
>ahkbi^jc3imdkY`hmjccidcjfmaZfgkm>ahkbm`^SkgheWefefmjcdiaimkhcefkmSigbiXmVjmUkbkfmiKjgiaif_jmZf`fmSjhiXbjaif_j
MfjbhimgZhhjgm\achjfbiXcigl
LR
Qfkpiq_ol6qjnMpVdk`j`jnX`mhnX]\kdidjpnZlhqkomq
7ZeV]_d`cd_ @b\U[cbU][\bc[^
SYpWgepnX`mhnl]\kdidjdjnQfkpiq_ol6qjnhpVdk`jeojnCjOohqnUonf]jmphqnCPokkqhkomqn;oYqlkqnp;gkpmepj
hpmYgkpYlgmgkpmphnUomqkiqYlqmrnF]hlpkgn_omkomond_[djnqJpeokomqn_pPgjgPr
>fkpiq_ol6qjnMpVdk`jeoj Qfkpiq_ol6qjnMpVdk`jeoj
2jOohqnKCjoi =]jmphqnKCjoi
<`chkdmbZfkgXimVkg_elm@kWkf] <`chkdmbZfkgXimVkg_elm5\d\bF
Qkdkf]mQkfm`fVkfefemkhkfmQ\F _kghed YkYk_kfmZW`hkmSjKi^Zg_`l
d\b_kghkg]md`cmakQiYimZh_`dhkge 5kfm`fVkfemYigma\gjm_kQkmd`hhkF
iKifm \hdj^im ^Mfjci^Zghkg_elm @kF =q_pfqnAp\g fehbkdhkmYighidcjma`hckfm`fVkfefk
_efhkgm _km _jVhjcm ^Mfjcibif_j SjKih_ilm@k_efhkgm_jVhjcm^MfjciF
jcdihi^_il bif_jmjcdifm_jWih_il
DZUdegm^kXkbefefmXkgchkgef_kf
>ahkbi^jc3ifmjcdiai^hjm_ifmjWicibi
_Zhk^e]mMgS\fmjWicibmd`g`bhkgeF
Vjgjfmd`g`bhkgmMfmIhkfkmKedcel
fefm Y`h`f_`W`f`m SMacjgjf
ZWqlqi D`m _Mfjb_jm Zgck^km Kedkfm jf
djaifm Yigm YihSim ^Zdc`glm AWicib
MfjbhimMgS\fmjWicibmd`g`bhkge
_kQkmKZdmkihj_jfmkhefkfmYihSiF
llllllllllllllllllllllllllllllll
hjgjm_k^kfe^Zg_`l
L[
AolqYlqmqkiohnQflojojnQeopknQjfpjnXq\q
3ZeV]_d`cd_ HbQbc[^
Qfkpiq_ol6qjnMpVdk`jeojn2jOo Qfkpiq_ol6qjnMpVdk`jeojn=]jmp
SG! 4S Q $ZGQ
4gckmOa^k3_km^kXk^kfmE\gdmcZIF >ahkbi^jc3ifmdkY`h\f_jfmaZfF %hdjm^MfjciHihjgif_jfmYihjm\aF
h`h`dhkgefem_jghj^jf]mcZIhk^kf]mZfF gkmSkUkmXjVdi^hjmSkUimciIimZgck^k c\fmZhkf]mQkhdefmQkdhkgefem^MfjciF
hkgkm _\Ujfm Vjgjfm SMKjYj]m ^kge KedbeXceglm2kUi]m>ahkbm_ififim^k^F HihjgjmdkgXemakV`fkf]m<\ah\bkf
SMKjYjm^iWic]mdZgd`a`U]m9kUihjchi] bkdmkbkHe^hkmb\Hk_jhjmj_jf] Qkhdem^jfim9jcQj_ihjfm^jghjgjmajVd
dkQgkbkf]makVkXKemi_jkhmifakfmciF dkQgkbkf]mHja`g]mYihSjmVjmMf_jg j_jf]m>ahkbi^jc3im^k^bk^emkbkKF
Ii_igl ifakf_egl hk^kfmifakfmciIi_igl
AdhpmgepnX`mhkomeonlpmqanV]_djOpnCjn\kpjpn;ghigYnqeopknqjfpjnlq\komqjqjnCPokkqhkomqnUomqkiqYlqmrnQf9
kpiq_ol6qjnhpVdk`jeojnCjOohqnUonf]jmphqnqeopknqjfpjnlq\komqjqjnVojPomnUonJpmhkgnCPokkqhkomqjqnVokqmko_o9
mohnaomneCjoieonJpmhkgnqjfpjni]eokqjqjn]mlp_pn;ghipfgjgjnjoeojkomqjqNn[`j`i`Peonqeopknqjfpjnlq\qjqj
]kd\n]kipegWgjgNnUpmfpnapj[qnCPokkqhkomqnlpYgegWgjgnpYpWgephqnj]hlpkgnpkpjpn_pPgjgPr
E\gdm_jackfhkgef_kmi_jkhmifakfmciIimMfHjm4W`Um@kWkf3hkmMU_jXhjXjfmV ciIi_iglm>ahkbi^jc3ifmdkY`h\f_jf
aZfgkmi_jkhmifakfmciIimZhkgkdm_ Vjm[] Zgck^kmKedbeXceglmAadimakVkXKe]mHiQkfSigmkhImciIififmMUjhhidhjgimihjmVjhi
VjmSkUimciIhjgififmMUjhhidhjgimdk^fkXbeXceglm4abkfhehkgefm?\dajhiXm;MfjbimaZfhkgefkmdk_kgmSkUimciIi]m>ahkb3ef
XjQicFSkUim_jWjghjgif_jfmS\Kmkhkgkdma\g\ImSicbiXmVjmS\f\b\Ujmdk_kgm^kXkbeXceglmD`mciIifm_jackfhkXbeXmdkQF
gkbkfem8j^icmDkcckhm2kUi3_iglmDkcckhm2kUim;jackfe]mOfk_Zh`3_km^kXk^kfmifakfhkgefmfkaehm<\ah\bkfmZh_`W`f`
Vjm<\ah\bkfhkgefm_eXmcjQhidjhjgjmdkgXemfkaehmdZg`f_`W`f`mSMacjgbjdcj_iglmDkcckhm2kUi]mE\gdhjgifmOfk_Zh`3^`
^`gcmj_ifbjhjgif_j]mY`gk_km^kXk^kfmifakfhkgefm^jfimYigm_jVhjcmVjmcZIh`bmkfhk^eXemZh`Xc`gbkhkgef_kmjcdihimZhF
b`Xc`gl
LT
@
MSBS0SFG<GSBKSnZ&QXQL
Hazrlanalm
[l <jdcjI]mbj_gjajmVjmd\c\IQkfjmdkVgkbhkgemQkddef_kmfjhjgmaM^hj^jYihigaifiU.
Tl @kgkQkfhehkgm_MfjbimE\gdF>ahkbm_\X\f\ghjgif_jfmYih_idhjgifiUimak^efeUl
=GRm^ehef_km4gQ`fmYMhSjaif_jdim$^S`ghkgefmckgiQmakQF
i
jfiU
fjaif_jfmKjdihbjai^hjmcjbjhhjgimkcehkfm@kgkQkfhem;jVhjci] Ogkhm2Mh\
7l ^^lmZgckhkgef_km;ZW`m@kgkQkfhem;jVhjcimVjmDkcem@kgkF
kgm;
8j
^Q
DkhdkXm2Mh\
`f
Qkfhem;jVhjcimZhkgkdmidi^jmk^gehbeXm777lm^^l_km_km@kgkF
5kU
Mpmpapjkgkpm
6j^Q
QkfhehkgefmQ)dibi^jcimaZfkmjgbiXcigl DkhkakS`f
`f
>ahkbi^jc3imdkY`hmj_jfm@kgkQkfhehkgm_Mfjbif_jmE\gdF D`Qkgk
( (
5Zgkakf (
hjgifmcZIh`bm^kIeaef_kmMfjbhim_jWiXidhidhjgmZhb`Xmjadi 8jbjgdkfc
(
E\gdmd\hc\g\mihjm>ahkbmd\hc\g\f\fmdk^fkXbkaemaZf`H`f_k 2 5jgkc @kXSkg
kU
(
2kUfj
E\gdF>ahkbmd\hc\g\mZgck^kmKedbeXceglm>ahkbi^jc3ifmdkY\h\fF fj
(
_jfmaZfgkmaZa^kh]mai^kaimVjmjdZfZbidmkhkfhkg_kdimMfjbhi hih
jg
_jWiXibhjgifm_ZWkhmYigmaZf`H`mZhkgkdmjWicibmkfhk^eXemVj
`^S`hkbkhkgem_km_jWiXbiXcigl
AadimE\gdhjg_jdimcMgj^jm_k^khemjWicibmkfhk^eXem@kgkF
Qkfhehkgm_Mfjbif_jm_jWiXibjm`WgkbeX]m>ahkbm_ifimVjmd\hF
$bbkfm;jfiUi
c\g\f\fmMWgjcihbjaimkbkHe^hkm_MfjbifmjfmMfjbhimMgS\f
jWicibm d`g`bhkgem Zhkfm bj_gjajhjgm kKehbeXceglm ;jVhjc E 7EE TEEE T7EE _^
k_kbhkge]mYihSifmVjmakfkcKehkgemdZg`^`Im_jacjdhjbiXhjg_igl
@kgkQkfhehkgm _Mfjbif_jm Zh_`W`m SiYim 8jhK`dh`m Vjm 4aF @kgkQkfhehkg_kmYihibmVjmd\hc\gmbjgdjUhjgif_jfmYkUehkge
bkfhem_Mfjbhjgif_jm_jmYihibajhmjajghjgifmQ\d\b_kghkgkmicQk9m:k_efkma`fbkNmj_ihbjai]mY`f`fm_jhihimZhkgkd
SMacjgihjYihiglm@kgkQkfhehkgm_Mfjbif_jmMgS\fmjWicibmmdk_kgm^k^SefmjWicibjm_jmMfjbmVjgihbiX]mbjahjdmjWicibifif
KZH`dm^kXhkg_kmYkXhkbkaefkm_iddkcmj_ihbiXcigl
@kgkQkfhehkgm_Mfjbif_jmjWicibimXjdihhjf_igjfmjcdjfhjgmX`fhkg_eg
;jVhjcmk_kbhkgefefmjWicibmVj
MWgjcibjmY\^\dmMfjbmVjgF
bjai
>ahkbi^jc3ifmdkY`h\mihjmYkXhk^kf ,kgkYi]m>Yfim8ifkmSiYim_\X\f\g
^jfimjWicibmkfhk^eXe VjmYihibmk_kbhkgefefmjcdiai
AWicibhjmQj_j9hjfjfmifakf OgkIKkmVjm,kgaKkmjajghjgif
ciIififm_jWiXbjai E\gdKj^jmKjVgihiImZd`fbkae
@kgkQkfhehkg_k
AWicibim
jdihhjf_igjf
$^S`gmkh9kYjaimihjmOgkImkh9kYjF Acdjfhjg ?jghjXidmQk^kckmSjKiXmVjmMgS\f
aififmYighidcjmd`hhkfehbkae jWicibmd`g`bhkgefefm^k^SefF
hkXbkae
LL
TrnZWqlqinMdmdikpmgnUon2Pokkqhkomq
MpmpapjkgkpmepnZWqlqinMdmdikpmg
5n2m[`jnZWqlqinMdmdikpmg 5nAp_[gjnZWqlqinMdmdikpmg
5 BqVpln(0pjhpa)
5 Loemofokom 5 /piqNnLofOql
5 Lohlo\kom 5 M`l`\apjo
5 XohhoNn pUq_o
JZeV]_d`cd_ HbQbc[^
BQ@SX
'iYkchkg]mMfHjhjgimaefeghkg_k
S\VjfhiWim akWhkbkdm \Ujgjm ^kF
IehbeXm kadjg0m ficjhidhim d`g`bF
hkg_elmkbkfhkmaZa^khm^kXkbef
YigmIkgKkaemQ)hifjmSjh_ihjglmDjfF
Ujgm SMgjVm \achjfbiXm Zhbkhkge
fj_jfi^hjm YigKZdm jajg_jm giYkc
k_e]mdjgVkfakgk^mVjmQkfdkQmihj
jXmkfhkbhemZhkgkdmd`hhkfehbeXceglm
'iYkchkgmSjfjhhidhjm_Mgcmckgk9e
a`ghkghkmKjVgihi]miKhjgif_jmSjfiX
YigmkVh`a`mY`h`fkfmbjaHic]mkXF
Qkfj]m^kckdQkfj]mQkbkb]mXi9kF
Qkfj]mk^kddkYeHemVjmkQeghkgmSiYi
YigKZdmQiUbjcmYMh\b\f_jfmZh`Xkfm^kIehkg_elmD`m^kIehkg_k]mjWicibmSMgbjdmiacj^jfmdibajaiUmMWgjfHihjgmiKif
Zd`hm^km_km_jgahidhjgm_jmY`h`f`^Zg_`lmlm^^l_kmak^ehkgemZfmYifmHiVkgef_kmZhkfmgiYkchkg]mUkbkfhkm8jhK`dh`mbj_F
gjajhjgifjm_jmjcdimjcbiXciglm@kgkQkfhehkg_kfmdkhkfmYkXheHkmgiYkchkgmiKif_jm'iYkcebjhid]m;k^km5kc`fm@jgVkfF
akgk^e]mOdKkdkhjm@jgVkfakgk^emak^ehkYihiglm
BofqieohqnmqVpllpn[oPeqWqjqPqnap_pknoeqjrn0pj[qnVCk`ikomqnqk[qjqPqn;ohomeq3nFoeoj3nK`Y`jOoko9
mqjqPqnpYpWgephqnj]hlpkgnpkpjpn_pPgjgPr
LG
BZeV]_d`cd_ -X`bc[^
SYpWgepnMpmpapjkgneCjoiqnoWqlqinhdmdikpmgnqkonqk[qkqn[ojoknVqk[qnUomqkiqYlqmrn@dneCjoiqjnoWqlqinhd9
mdikpmgnqkonqk[qkqnp_mgjlgkgnpmpYlgmipn_p\iphnq;qjnfgjgJlpneCmlnhqYqkqhn[md\kpmpnp_mgkgjgPrn4md\n]kpmphnoWqlqi
hdmdikpmgjepjnVqmqjqnpmpYlgmg\nokeonollqWqjqPnVqk[qkomngYgWgjepnVqmnfdjdnapPgmkp_gjgPrn=djdjdPepn[Cmfok
ipkPoiokomeojneon_pmpmkpjgjgPrnSmpYlgmipnf]jdOdjepnokeonollqWqjqPne]h`ipjkpmgn`m`jne]f_pjgPep
fphkp_gjgPr
<j_gjaj EjddjFkVi^j
_jmY`S\fd\
jm < \a h\ bkfm\hdjhjgif cib >XhjVhjgim k^fe
E\ gd mV mhiakfa\ac\mjWi Y\^\dm^jghjXib m Zhkfm Y`m d`g`bhkgef
mihd] mZ gck]m^\dajdmVj gj ajF mb
kf hk b _k
gkmbj_gjajm_
jfig_ ilm < j_ gefkm hh]m_kQ jgdjUhjgif_jmd`g`hkfhkF
^kIehkfm Zd`hhk iX mZ _k He dh kg _kf kmd\K\dm^jghjg_
gjaif_jm_iUihb e hkgefkmiajm]_ jmd`g`hkfF
hjg]mYigmkVh`mKjV `f`fm\ac\mkKedm^km_kmdkIkh Sjhjfm jgdjdhjg
e k_emVjgihbiX
ciglmDjhhim^kXk
mS jhigmk Vh Hi hj gif ]m Yi
bj^ _k fk
d`YYjhjgifmkhce
f_k]mM Wg jf
jgj
dj^jm^Mfjhi^Zg gm ckgidkcjm Sigjgjdm cjdF
Zh`g_`lm $9kdm Ki fmZ_ kh kg mVkg_elmEkhjYjh d\hc\gm Zgckbef
mY`gk_km KZdm
_iaiIhifhim Yig
ja imi
^kcehemdkh kY ihb mfcg _jF d _km^jciXbjm Zh
^k md bT ] mMWgjcbjfhjgj ^Zghkg_elmEjddjh
jg
kfkWem Y`h`F
dW Vj akfkc]m iXmkQhkd _jm_ih]mj_jYi^kc]mb\Uid]
j_gjajF e]m aZa^ZhZi]m ak
fig_il
`h kg m_ Mf jb if_jm^kIehkfmb fe Vjgihi^Zg_`lmD`m WhedmjWicibi
8jhK` dh hjgifmkhcefmKkWe Yk
Q`d`d`mVjm Ogk deb_kfm cjddjm_if]m_if
kQ km ai ac jb hi_iglm<j_gjaj A f_ \h \a 3cj IKkm MWgjcjfm b
hjgm_ jg]m
bjm kicm Mgfjdh _jfm9kgdhe^_el j_gjajhjgF
^kXk_eWem _Mfj / 7lm^^ lhk g_ km4abkfhehkgef
gif ]m / mV jm
AbjVihj
g_`dhkge_egl
>ackfY`h3_kmd`
c
<jaHi g`hF
6kbiF j c m k b kKhemd` eWe]
gmiYk_ m ^kIeh_
V j m b jaHichj ZIhkfcehkgef i^k9jchjF
c mU
6kbim dhkm Yighidcjm Mg\h_\W\] jf]m jWiF
hb k if if mS e Yih
hk
b`Xm Z bjmiXhjbhjg XVjgiXm ^kI \g\c\h_\W\
j k he m^
bkQd jfhjf_iWi]m jchjgififm_ jmiYk_jccjf j
_ \ U m9kk hi^ Hic _ hj g `f`g]
gifm Wgjcib bimVjmbja ihkQihjgm Zd k_F
mV j mM
cib lm6 k Vj m kdm
fhkg_e `g+kfm am Zhkg
bjd) jm aZfgkm @ jgihig]m d`aak kfm _if0m Vj
V V _ ]
MfHjm jm Q`cYjhjgm jgm ckgk9ef m Qid)^jhjg
k U m V ) ^ j H ih e l m D ` eXceg lm
V k f m Qid m kfhkceheg _ ^fkb
e g e hk mgZ hmZ
hkf_ Qid)^jhjg himYig
i mMfjb
kQhkd mjWicibif_j
cZIh`b
<jdcjI
c V Vj^kmfh V k_emVjgihjf
bk^e
^jghjgifm jakam kbkHe]m ^kUem ^kU
cjI hjg]
Vjm Zd`bk^e MWgjcbjdcilm <jd
m^kU bkf efm^ kfe
UkbkfmiKif_jmZd`bk
:@` g+kf 3efm` a`hm Vjmd ki_j F
aegkmdegkkcm
mSM gjmZ d`f bka eNmih bi]m Yka icm_if0
aifj
kaic
YihSihjgmVjmiYk_jcmXjdihhjgi]mQkcc)mY
kgef efm_ kmMW gjcih bj^ j
QjakIhkbkm^Zhh
kae^ hkmK Zdm^ Mfh\ mjW icib md`F
YkXhkfb
g`bhkgemQ)hifjmSjh_il
@kh^kfm<ifkgjaim1UYjdiackf
LJ
HrnZWqlqionMplhgepn@dkdjpjnK`Y`j`mkom
MpY[pmkgnLpaidl RGPaeeaS
DihifjfmjfmjadimE\gdm_ihimkgkXcegbkHeae_eglmOgkIhkgkmE\gdKjmMWgjcbjdmkbkHe^hk
JM_Q!c+c[ ch k_hemjajgifim^kU_elmD`mjajgif_j]m^kXk_eWem_jVig_jdimE\gdmihF
hjgififm Vjm YZ^hkgefefm d`hhkf_eWem kWeUhkgem Hkfhem Zhkgkdm cjaIicm jccilm ;jVgifjm kic
CJRR3_jfm9kUhkmE\gdKjmdjhibjmihjmE\gdmQkhdmj_jYi^kcefkmkicmKZdmak^e_kmXiig]m_j^ib
VjmkckaMU\miKjgjfmJM_Q!c+c[ ch]mE\gdKjfifmihdmaMUh\dmVjm_ihmYihSiaimdickYe_egl
A_jYi^kc]mckgiQ]mHZWgk9^kmVjmaZa^ZhZimkKeaef_kfm_kmUjfSifmYigmdk^fkdcegl
QVjqn=qjp RGPaeeaS
<kfced]mbkcjbkcid]mkacgZfZbimjWicibimSMg_\lmDigma\gjmceIhkmihSihjf_ilm1Ujhhidhj
Qkackhedhkgefm^k^eheXmfj_jfhjgifimkgkXceg_elm,iUidmVjm9jhaj9jm_jmihSimkhkfef_k^_elmDiF
hibhjgifmaefe9hkf_egehbkaemihjmihSihimKkheXbkhkgm^kIcelm<jck9iUiWim:OgiacZmbjck9iUiWiN]
?jfim"hkcZfH`h`dmihjmdjhkbemYighjXcigjgjdm^jfimYigmUjbifjmckXe_elm>abimOVg`IkhehkgHk
O_X!! Zhkgkdmcjhk99`Umj_ihjfm>Yfim8ifk3fefm!!k_hemjajgim:!!
N]mOVg`Ik3_kmceImjWicibif_jm_jgamdickYemZhkgkdm^\U^ehhkgHkmd`hhkfeh_el
@pkpfp[djkdnAdfdJn(AdfdJn0pfn0pOq\)nRGPaeeaS
A_iI]mXkigmVjm_jVhjcmk_kbe_eglm;ZW`mE\gdiackf3_kmDkhkakS`fmXjQgif_jm_ZW_`l
g[U[ k_hem\fh\mjajgim^kU_elmD`mjajg_jmE\gdhjgifmkQhkd]mQ`d`dmVjm_jVhjc
^MfjcibimihjmihSihimcMgjhjgifim_ihjmSjcig_ilm@ickYefem[RCR3cjmj_jYi^kckmbjgkdemZhkfm@kF
gkQkfhem5\d\b_kgem$h`m@kgkmD`Wgkm5kf3kma`f_`lm5\d\b_kg]mjajgifimKZdmYjWjfF
_iWim DkhkakS`fh`m ?`a`93`m 5kam 5kHiIm `fVkfefem Vjgjgjdm Vjm ^\dajdm bjb`gh`d
SMgjVifjmkck^kgkdmM_\hhjf_ig_il
SaiolnAofoUqnRGPPaeeaS
<`ckakVVe9mVjmXkig_iglm*hf k_emVjgihjfmMWgjciHimXiighjgi^hjmckfef_elm;MfjF
bif_jmYigKZdm_jgViXm^jciXcigjfmVjmifakfhkgemjcdihj^jfm5ZHkmOQbjcm?jajVi]mMh\F
b\f_jfmaZfgkm_kmMWgjfHihjgimVjmjajghjgi^hjmcjaigifima\g_\g_\lm4f`fmkKceWem^Zh]
?d_h Zhkgkdmk_hkf_egeh_elmOfk_Zh`3_kmE\gdmf\9`a`f`fmkgcbkaef_kmVjm>ahkF
bi^jc3ifm^k^ehbkaef_kmjcdifmYigmgZhmZ^fk_el
pmpVqnRGaeeaS
<j_gjajmMWgjfibimSMg_\]m5kggkf3_km9jhaj9jmkgkXcegbkhkgem^kIcelmOgiacZ3f`f
jcdiaif_jmdkhkfm,kgkYi]mYihibhjgim9iUid]mbkcjbkcid]mbjck9iUidmYihibhjgmZhkgkdmaeF
fe9hkf_eg_elmD`m^Mfcjb]mOVg`IkhemYihSifhjgHjm_jmdkY`hmSMg_\lm>fakfmkQhkdefef
cjbjhifimYihSimZhkgkdmSMgjfm,kgkYi]mQkVkmcicgjXibhjgif_jfmiYkgjcmZhkfmajamZhk^eF
fefmihdmkKedhkbkhkgefem^kIcelmD`m^Mfcjb_jfmQkgjdjchjmb\Uidmkhjchjgififm^kIebe
ihjmihSihimd`gkhhkgem_kmZgck^kmdZ^b`XmZh_`l
LB
9ZeV]_d`cd_ Fa`e@d^d^
SYpWgepnMpmpapjkgneCjoiqne`Y`j`mkomqjqjn[Cm`YkomqjeojnVqmnhgfignUomqkiqYlqmrn2jOohqnfp_JpepnUo9
mqkojnVq_][mpJqkomeohqnq\d;kpmgjepjn_pmpmkpjpmphnVdne`Y`j`mkomqjnhqikomn]kedhkpmgjgnVdkdjdPr
<r
"d>bebYc[eR`eSa_dQeMdc]cd_eNd\eb`Sd_cREaYdeWbQY[^Ze;d_\RS_REeRcG
^bY[P[e:1cYae^d_\REe]a\d^dWcaed>bYaeaYdca`eR\Lb`dQ^bcb\[`eOb\c[P[`G
Yb`eSKQea]]d^Ze@b`X`ebYc[e_d]bN[^Ie..ZeWWZYbeb]d`MaWaeCaO\dcYdZeFb][
][Ee1ca^d`YaeNTWT_ea]_deWbE][ZeHTQeaccdeMdOb\[`Ybe_d]bEeWbQY[^ZeFT]T`
YT`WbeNb`be'b_d^Gde?[Ee&?[NN[`eFdcLaSd%eYaYdZe?[EIe>acSa>aIebS]\R`R^d
LdNdeEa_eCR_ebcb`YbeaSa\eOa\Yd^Z5
@ojnhqiqi3
lllllllllllllllllllllllllllllllllllll
AhF@kf`fm,i3cFEeY3_kfmiadjhjcmaiacjbifimSMacjgjfmYigmk^gefce
<<r
?T\_e]bSbOOX>eLaca`aPd`d`e_X\XMXSXWX^Ze=`bYRcX4Wbe:dCeLac^aG
Yd^Ie?T\_dS]b`4YbeWbUbY[^ZeARS]cX_Ie_b\YaUcd_IeSaOLdIe:RULK\Te_bOG
\b^cb\[`beYbWb`b`eUdd\ca\eWbQY[^ZeHaSaOdcd_Ie;aOcaOdcd_IeFa_]bUdcd_
LdNde]b\d_b]cb\[`e_X\XcXUX`Ybea]_dcdeRcYX^ZeFa`d^eWRcX^Yb`eLdYa`
KP\a`Mdca\d^Ie=`bYRcX4`X`e?T\_eWX\YXeRc^bS[`YbeOaeDScb^dWa]4d`eb`G
cb][c^bS[`YbeNTWT_e\RceRW`bY[Z5
@ojnhqiqi3
;0V)fFem5idbjc3cjfmYigmak^9k
lllllllllllllllllllllllllllllllllllll
<<<r
Fdcd`a`ea`eaS_de?T\_eYdcdeb\bU][\^bM[S[W[^Ze?T\_eYdcd`deOa
_Tc]T\T`TeKP\a]^a_edCd`eNTWT_eNd\eSKQcT_eOaeYdceNdcLdSde_d]bN[
:bQ[\cbY[^ZeVSa\d^Yae?T\_CaeUdd\ca\aeOae?T\_eb]bSKQca\d`aeYa
Wa\eOa\Yd^Z5
@ojnhqiqi3
lllllllllllllllllllllllllllllllllllll
;0V)f\m#\Skci3cFE\gd3cjfmE\gdmYZ^hkgefef
^kXk_edhkgemHZWgk9^khkgemSMacjgjfmQkgick
<$r
;Xbccd^Gde-b`de&D_d`Mde0P\a]^a`%ecb_bN[Wcbe]b`[`^b_]bW[^e&;XG
bccd^GdeVOOacIeFd\d`Mde0P\a]^a`eRcb\b_e=\dS]Re_bNXceaYdc^a_]aYd\Z%Z
#acSa>aIe]bSbOOX>Ie^b`][_Ie][EIe^XSd_deOae^b]a^b]d_ebcb`cb\[`YbeCbG
c[U^bcb\[^e NXcX`^b_]bY[\Ze @d]1NT4cG;Sd_d4cG@aN(\e bYc[e _d]bN[^Yb
^TQdPd`ed`Sb`eESd_RcR*dSdeTQa\d`Ya_dea]_dSd`Ya`eNb:Sa]]d^ZeFXe_d]bG
N[^eD`LdcdQMaIe#\b`S[QMbeOae=c^b`MbWbeCaO\dc^dU]d\Z5
@ojnhqiqi3
lllllllllllllllllllllllllllllllllllll
;\X\f\g\fm^kIceWemYigm`_mKiUibi
LC
Mdlpe[dn@qkq[
8ZeV]_d`cd_ @b\U[cbU][\bc[^
SYpWgepn@X]bYLXeFdcdL6eojnpkgjlgkpmnUomqkiqYlqmrn@dnpkgjlgkpmepneqkon[olqmojnoWqlqinpjkp_gYgjgnVokqmko9
_qjqPnUon[`j`i`P`jnoWqlqinpjkp_gYgnUond_[dkpipkpmgnqko hpmYgkpYlgmpmphnVqmniolqjn]kdYldmdjdPrn:kdY9
ldmedWdjdPnioljqn`m`jne]f_pjgPpnohko_qjqPr
@`ck_S`mDihiS3_jfm8jKbjhjg
Qhqnl`mk`nqjfpjpnqjfpjneomkomcn@qmqnCWmojojNnVqmqnCWmolojr
QjfpjnVqkioPfonCWmojqmNnVqkqmxnVqkeqhlojnf]jmpnpmPdfdjpnhpUdYdmr
@qk[qnUonJpPqkolnCWmojNn]jpna`miolnolrn@dnJpPqkolnf]jmpnfpjpnepna`miolnloiqjnoeomr
QjfpjNnCWmojomohn#kqin]kdmxnVqk[qnfpaqVqn]kedhlpjnf]jmpnaomnqYqn_]kdjpn[qmomr
Mqin;]OdhkpmgjgnjpPnq;qjeon_olqYlqmqmfon]nhqifo_onpWkpiphne`YomxnhoeomNn]jdjnq;qjnhp;gjgkipPegmr
:WkdnVpYgV]Yne]kpYip_pnVgmphipxnVpYgV]YnhpkgmfpnaomnlpmpJpn[qeomnUon_pPghn]kdmr
:WdknhgPpnVqk[qnoeo\nCWmolxnVdNnaomnqhqne`j_pepn]jkpmnq;qjnJp_epkgn]kdmr
Z_nVpVpn]kpjNn;]OdWdjdnfghgnlomVq_onolxnpmhpepjn[okojkomnfpjpn[`kiofqjkomr
QjfpjkghnpegjgnlpYg_pVqkiohnq;qjnqhqnYo_nkpPgiegmcn@qmqniomapiolkqn]kiphNnVqmqneonOCiomln]kiphlgmr
ShgkNnhpmpjkghn[oOoeonVqmnioYpkon[qVqeqmr
@`l`jna`miolnUonqlqVpmNnphgknq;qjeqmxnphgkfgPnpepinVqmnpUd;nVpk;ghn[qVqeqmr
Qjfpjkpmgnq_qnfo;oVqkiohnq;qjnphgkkgn]kiphnkpPgiegmr
QjfpjNnVqk[q_qnUonJpPqkolqnCWmojoVqkqmxnJphplnqjfpjNnphgknqkonVqmkqhlone]Wpmr
=CPNnVqkomohnfC_kojqmfonVqk[qnfp_gkgmxnVqk[qfqPqjnfCP`nhojeqnVpYgjgn_omr
@`ck_S`mDihiS]mai^kajcfkbjmc\g\f\fmE\gdmj_jYi^kcef_kdimihdmMgfjWi_iglmAajg]mk^femUkbkf_kmYigmkQhkdmVj
_kVgkfeXmdickYe_eglm/77lm^^l_km;jaHkgcjam:;jdkgcNmckgk9ef_kfmZgck^kmkcehkfm!kdehHehedm9jhaj9jaim_jm^\U^ehhkg
MfHjmDkhkakS`fh`m?`a`9mckgk9ef_kfmiXhjfbiXciglm4m_MfjbmiKifmYigm_jWjghjf_igbjm^kIehegakmYihibjmY`mdk_kg
KZdm_jWjgmVjgjfmYkXdkmYigmjajgm^Zdc`gl
2jn+pkgYipb:hdknKgYgcnD`_iUb3ifmjWicibmd`g`bhkgemZhkfmViQkgkhkgemVjm8jhK`dh`mbj_gjajhjgifimYjfF
UjgF9kgdhem^Mfhjgi^hjmkgkXcegkhebm:GTlmak^9k_kdim[lmjcdifhidmiKifNl
L=
7Z V]_d`cd_ HbQbc[^
SYpWgepnMpmpapjkgkpmneCjoiqnX`mhne`Y`j`mkomqjqjnoWqlqinpjkp_gYkpmgjpb;pkgYipkpmgjp
qkqYhqjnVqk[qnUomqkiqYlqmrn$omqkojnVqk[qkomqn[`j`i`PnoWqlqinpjkp_gYnUond_[dkpipkpmg_kpnhpmYgkpYlgmpmph
VojPomkqhnUonJpmhkgkghkpmgnVokqmko_qjqPrn@dne`Y`j`mkomqjnoWqlqionhplhgkpmgjpnqkqYhqjne`Y`jOokomqjqPqnj]hlpkg
pkpjpn_pPgjgPr
K`Y`j`mkom ZWqlqinSjkp_gYkpmgb+pkgYipkpmg
y AWicibifmkbkHe]mYigj^ifmb`ch`mZhbkaefemVjmcZIh`bkm^kgkghemQ)hjmSjhbjaifimakWhkbkdcegl
pmpVqn
y 1Wgjcib_jmdZhk^_kfmUZgkmSi_ihbjhi_igl
y 1Wgjcbjf]mMWgjfHihjgi^hjmaZQYjcmj_jgmSiYimckgceXbkhe_egl
y ;iaiIhif]mfjmajgcmfjm_jm^`b`XkdmZhbkhe_egl
y 1WgjfHihjgifmdkgkgmVjgbjmVjmaZg`bh`h`dm_`^S`hkgemSjhiXcigihbjhi_igl
y -ZH`d]mkhcem^kXef_kmZd`hkmYkXhkbkhe_egmVjmihdmjWicibi]mkQhkdmjWicibimZhbkhe_eglmAWicibma\gjF
QVjqn=qjp
Hif_jmKZH`dm\Ujgif_jmYkademd`g`hbkbkhe_egl
y 1Wgjcbjf]mKZH`W`mckfe^kgkdmZf`fmihSimVjm^jcjfjdhjgifim9kgdmjcbjhim_jfj^jmVjmSMUhjbj
_k^kfkfmYigmMWgjcibm^Mfcjbimd`hhkfbkhe_egl
y 1Wgjcbjf]mS\VjfihigmZhbkhe_egl
@pkpfp[djkd
y g[U[ k_hemjajgifimZhS`fmifakfmdkVgkbemVjmckgi9im\Ujgifjmd`gb`Xc`gl
AdfdJ
y Aajgif_jmZd`bk^e]mS\Ujhm^kUbk^e]m^kYkfHem_ihmMWgjfbj^i]mXiigm^kUbk^e]mj_jYi^kchkmihSiF
hjfbj^imbkcjbkcid]mSjZbjcgi]mceImSiYimYihibhjghjm`WgkXbk^emdeakHkaemQjgmc\gh\mjWicibmVjmMWF
gjcibm9kkhi^jcifimcjXVidmjcbiXcigl
ymOgkIKkfefmYihibm_ihimZh_`W`m_Mfjb_jmE\gdKjfifmUjfSifhiWifimVjmMWgjfihbjaimSjgjdciWifimakF
MpY[pmkg
Lpaidl
V`fb`Xc`gl
y OgkIhkgkmE\gdm_ihifimMWgjcigdjfmE\gdmd\hc\g\f\mckfecbk^em_kmkbkKhkbeXcegl
y ;ihifmVjmd\hc\g\fmYigYigif_jfmk^gehbkUm`fa`ghkgmZh_`W`f`makV`fb`Xc`gl
y >fkf_edhkgefe]mMWgjf_idhjgifimKjVgjaif_jdimifakfhkgkmkfhk^kYihjHjdhjgimYigm_ihmVjmkheXcedhkge
AofoUq
Saiol
Xjdihhjghjmkdckgbk^kmKkheXbeXcegl
ym-jVgjaif_jdihjgjm_ifmd`gkhhkgefe]mckakVV`9mjakahkgefemMWgjcbj^jmKkheXbeXm>ahkbi^jc3imE\gdF
hjgjmajV_igbjd]mE\gdhjgmkgkaef_km^k^eheIm^jghjXbjaifimakWhkbkdmkaehmkbkHemZhb`Xc`gl
@kgkQkfhemQ\d\b_kghkge]mYihibmVjmjWicibjmY\^\dmMfjbmVjgbiXhjg_iglm@kgkQkfhehkgm_Mfjbif_jm$^S`ghkg_kf
_kQkm^k^SefmVjmdkheHemYigmYiKib_jmMgS\fmjWicibjmSjKihbiX]mKZdmak^e_kmjWicibmd`g`b`mkKehbeXceglmD`m_Mfjb_j]
djf_imkhkfef_kmYkXkgehemZhb`X]mjWicibmkhkfef_kmZgck^kmdZ^_`W`mSMg\Xhjghjm4gckm-kWmOVg`Ik3aefefmYihibmk_kbF
hkgefkm^ZhmSMacjgjfmIjdmKZdmYihibmk_kbem^jciXbiXcigl
LP
3ZeV]_d`cd_ =4Yb`e4Wae0P\a`Yd_ca\d^
MpmpapjkgkpmneCjoiqjeonoWqlqionhplhgepnVdkdjpjne`Y`j`mkomkonqk[qkqnCWmojeqhkomqjqPeojn_]kpn;g9
hpmphnpYpWgepnUomqkojnapmJkomkonVpYkp_pjnO`ikokomnhdmdjdPr
O OdehHehedm9jhaj9jai]mDkhkakS`fh`m?`a`9mckgk9ef_kfmiXhjfbiXcigl
; JM_Q!c+c[ ch]mZm_MfjbifmjfmYihibajhm_ihmYihibimKkheXbkae_egl
> >Yfim8ifk3^kmSMgjmMWgjcbjf]mS\VjfihigmZhbkhe_egl
< <kcjbkcid]mDkhkakS`fh`m?`a`93`fmihSihjf_iWimkhkfhkg_kfmYigi_igl
"
GR
/
=ZG+.MG.GSBKSnZ&QXQL
Hazrlanalm
[lm2\f\b\U_jm`ackFKegkdmihiXdiaimihjmMWgjfihjfmQkfSimbjahjdhjgimYihi^Zga`f`U.
Tlm*kagjccifm5ZHkm9edgkhkgefefmSjfjhmMUjhhidhjgimQkddef_kmfjhjgmaM^hj^jYihigaifiU.
2jfiXmaefeghkgkmakQiImZhkfmD\^\dm8jhF
K`dh`m;jVhjci]mE\gdF>ahkbm_jVhjchjgimiKif_j
ajKdifmYigm^jgjmakQiIciglm
5kUkg
@kgk_jfiU
,jgSkfk
m;jfiU
D`Qkgk 8jbjgdkfc (
( (
(
i
E\gdi^jm8jhK`dh`
DiUkfam>bIl ( ( ;jVhjci EjYgiU
hkg_kfm jcdihjfjfm D\^\dm 8jhK`dh`m ;jVhjci
@Zf^k @k^ajgi (
( *iXkY`g
(
:E\gdi^jOfk_Zh`m8jhK`dh`m_jVhjcim_kQihN] D\^\dm8jhK`dh`m;jVhjci
jWicibmd`g`bhkgefem_kmZfhkg_kfmMgfjdmkhF
Od_jfiU
(
beXceglm8jhK`dh`hkg]mY`md`g`bhkgem_kQkm_k
DkW_kc
(
SjhiXcigjgjdmaZfgkdimE\gdm_jVhjchjgifjmMgfjd
Zhb`Xc`glm 8jhK`dh`hkgm _Mfjbif_jm *iUkF
Ogk
Dk
agk
bi^jm <j_gjajhjgim kKehbeXm YigKZdm XjQig]
Im?
m@
Mg
9jU
kgeb
YihibmVjmd\hc\gmbjgdjUimQ)hifjmSjhbiXciglm>hd
k_k
@eU
5if
ae
cm;
eh_j
_Mfjbhjgif_jmjadimE\gdmSjhjfjdhjgifima\gF jfiU
fiU
_\gjfm8jhK`dh`hkgm\Ujgif_jmUkbkfhkmOgkI
Vjm,kgamd\hc\g\f\fmjcdiaimkgcbeXceglmm R JRR [RRRmdb
8jhK`dh`hkg_kmYihibmVjmd\hc\gmbjgdjUhjgif_jfmYkUehkge
8jhK`dh`m_MfjbimjWicibmd`g`bhkgemiKif_jmbj_gjajhjg]mkQihidmVjmkckYj^hidmMfmIhkfkmKedbkdck_egl
TrnZWqlqinMdmdikpmgnUon2Pokkqhkomq
=ok;dhkdkpmepnZWqlqinMdmdikpmg
5n2m[`jnZWqlqinMdmdikpmg 5nAp_[gjnZWqlqinMdmdikpmg
5 Saqkqh
5 Loemofokom
5 SlpVo_kqh
5 Lohlo\kom 5 /piqNnLofOql
5 M`l`\apjo
5 XohhoNn pUq_o
G[
<j_gjajhjg
JZ V]_d`cd_ @b\U[cbU][\bc[^e
@deqPi6qjnoWqlqinhdmdikpmgn]kpjnUqapmpkpmgnpmpYlgmgjgPrn@dnoWqlqinhdmdikpmgjgn=ok;dhkdnioemofokomq
qkonhpmYgkpYlgmgjgPrn$qapmpkpmephqnoWqlqinfqfloiq_konioemofonoWqlqiqjqjnVojPomnUonJpmhkgn]kpjn_Cjkomqjq
pYpWgephqnj]hlpkgn_omkomon_pPgjgPr
DigmD`_iacmViQkgkae -i9cjm<ifkgjhim<j_gjaj]mAgU`g`b
/iQkgkmVjm<j_gjaj
@ojPomkqh pmhkgkgh
<D\JñQNXOODQñPñ\ODGHUVRNXWXODQ\HUDQODPñQDJHOHQPHGUHVHOHULQLONGHIDQHUHGHQH]DPDQYH
KDQJLğDUWODUDOWñQGDNXUXOGXßXQDGDLUELOJLOHUHKHQ¼]HULğLOHPHPLğWLU7¼UNðVODPGHYOHWOHULQGHLON
PHGUHVHOHU+RUDVDQYH0DYHUH¼QQHKLUE¶OJHVLQGHJ¶U¼OP¼ğW¼U%XPHGUHVHOHULQNXUXOPDVñQGD7¼UNOHULQ
HVNLJHOHQHNOHUL8\JXUPDEHGOHUL6XIIH'DU¼O+LNPH%H\W¼O+LNPHYH'DU¼OðOLPNXUXPODUñLOHULEDWODU
PHVFLWYHFDPLOHULQHWNLQROGXßXG¼ğ¼Q¼OPHNWHGLU
GT
8egKkhem<j_gjaj]m@Zf^k
*iUkbi^jm<j_gjajhjgi
e!h!!h ^[[Y\>]feNgd!!h\OVd!![Ygc^c[h__
g^]!c]!>`g!`gf` aE !OVd!g![h]!!>]fcfch\Wf!T
e [ZhW]!g!WXg^V>`gh>]feNgdd!! gah!Xbh
Z!U^g >]feNgddZ!JXhed!ge d f!gVKI1= !` `!f`
_fgdheg f` F
EZh\fgd!fMTe !W Zecc fZ!echdh[_hT Wdd
f`\b!b_dch[h_` f`gaJfM[dWVb!fgd\ffW
e gdWVbf!!e!!g\ghf`[Zfhe[d!g!h hh!g!fdh
!_!Y^ fce\ghd_hghe h!g!he[d]XY^!f_fh
fhQ!!!Y^!Xe!]]f!![Yg^\`fgh]f![Ygfcdddde
gF
L <^fgd\[c!hcc!_d !![`ff`WQbVgdVb[fgWhh\We \
ge \ded[_T!Thc !!fcTg Vb[f!!` f`WQgaU![Y>
]feNgd!g!_!f\OVZ\ge \dTRg[dS\!W_RXcf[dS\
c[ RdY]ch[dS\`\W \ W\Xb^Te\fdh\W \TdT\f! h\e]eRf f hS\W!gd
R[bf S\WdVR f hS\!cXfRd bb)S\ V_agdbh ga>]fefgd\Y[c!
^ f!e!!gee[!^ fTe !gecc fh egF
RLXh\da:DD:D;aS
BZ V]_d`cd_26_XceA[U[ ,aQacd^
ApYpegWgjgPn;oUmoeonVdkdjpjnlpmqa'nVqmnioemofo_qnUo_pneqWomnlpmqa'noWqlqinhdmdikpmgjepjnVqmqjqnqj9
Ookoiohn`Pomon[oPqne`Pojko_qjqPrn@dn[oPqnf]jdjepnoWqlqinhdmdidjdjnCPokkqhkomqNnpqln]kedWdnlpmqafok
eCjoiNnVdnhdmdiepn_p\gkpjnoWqlqiqjnjqlokqWqn[qVqnh]jdkpmkpnqk[qkqnVqmnpmpYlgmipnmp\]mdnapPgmkp_gjgPrn0p9
PgmkpegWgjgPnmp\]mdNnokeonollqWqjqPn[CmfokkomkonVqmkqhlon`m`jne]f_pjgPpnohko_qjqPr
GL
<j_gjajhjgifm1Ujhhidhjgi
>hdmbj_gjajhjgm@kgkQkfhehkgmckgk9ef_kfmd`g`hbkdhkmYighidcjmbj_gjajhjgimaiacjbhimVjmdkheHemjWicibmd`g`bhkge
Q)hifjmSjcigjfhjgm8jhK`dh`hkgmZhb`Xc`glmD`md`g`bhkgefmYkUemcjbjhmMUjhhidhjgimX`fhkg_eg
<j_gjajhjg]mY`S\fd\m\fiVjgaicjmdkbI\ahjgifjmYjfUj^jfm^jghjXdjhjgjmakQiIcil
OgkIKkfefm>ahkbm_\f^kaef_kmYihibm_ihimZhkgkdm^k^SefhkXbkae]mbj_gjajhjgmVkaeckae^hkmZhb`Xc`l
@`hhkfehkfmjWicibm^Mfcjbhjgi]m>ahkbm_\f^kaef_kdimc\bmjWicibmVjmYihibmd`g`bhkgefHkmYjfibajfbiXcil
<j_gjajhjg_jfmbjU`fmZhkfhkgkmVjgihjfmiHkUjcfkbjmiaibhimYjhSj]mY`S\fd\m_iIhZbkfefmihdmMgfjdhjF
gif_jf_igl
8jhK`dh`hkgm_Mfjbif_jm*iUkbi^jm<j_gjajhjgimYkXckmZhbkdm\UjgjmYkUembj_gjajhjg]m_Mfjbififmjf
ihjgimjWicibmVjmYihibmd`g`bhkgemZhb`Xc`lm1UjhhidhjmAf_\h\am:>aIkf^kNmbj_gjajhjgi]mOVg`Ik3_kmYihibif
Hkfhkfbkaef_kmMfjbhimgZhmZ^fkbeXcel
<j_gjajhjg_jm_jVkbhemackc\_jmb\_jggiam:MWgjcibmjhjbkfe]mQZHk]mIgZ9jaMgNmiaciQ_kbmj_ihbiXmVj
Y`fhkgmkgkaef_k dk_jbjhim^\dajhbjmaiacjbim`^S`hkfbeXcel
;jVhjcifmiQci^kHemZhkfm\acm_\Uj^mbjb`ghkgem^jciXcigjfmbj_gjajhjgjmY\^\dmMfjbmVjgihbiXcil
?Zda`hmVjm^jcjfjdhimMWgjfHihjgmbj_gjajm^jghjXdjhjgif_jmYkgefbeXmMWgjfHihjgifm^jbj]miKbj]mjWicib
SiYimc\bmbkagk9hkgembj_gjajmVkde9hkgefHkmdkgXehkfbeXcel
<j_gjajhjg]m_ifmYihibhjgififm^kfemaegkmIZUici9mYihibhjgifm_jmZd`c`h_`W`mjWicibmd`g`bhkge^_el
<j_gjajhjgifmSi_jghjgima`hckfhkg]m_jVhjcmk_kbhkgemVjmVkghedhemdiXihjgmckgk9ef_kfmd`g`hkfmVkde9hkgHk
dkgXehkfe^Zg_`l
<j_gjajhjg_jmjWicib]mIkgkaeU_el
9Z V]_d`cd_ @b\U[cbU][\bc[^
AdhpmgephqnVqk[qkomon[CmonioemofokomqnVd[`jh`noWqlqinhdmdikpmg_kpnhpmYgkpYlgmpmphnpYpWgephqnlpV9
k]_dne]kedmdjdPr
Loemofokom @d[`jh`nZWqlqinMdmdikpmg
GG
OQihid
AWicib]mi^imifakfm^jciXcigbjmkbkHefkmQiUbjcmjcbjdcj_iglm-ZW`mUkbkfmMWgjcibmihjmYighidcjmkfehbkdck_eglmAWiF
cibifmYigmckfebem_kmckdhicm^Zh`mihjm_kVgkfeXmj_ifbj]mKjVgjajhm:_eXckfmSjhjfNmjcdjfhjghjmYihSimVjmYjHjgimdkUkfbk
VjmdkUkf_egbkma\gjHimZhkgkdmdkgXebeUkmKedbkdck_eglm8jhK`dh`hkg_kmWh k_emVjgihjfmjafk9mMgS\chjfbjai]mY`
MUjhhidhjgimckXebkdck^_elmOQihidcjmSk^jm_ZW`_kf]mOa^k3_kdimY\^\dmVjm`^SkgmE\gdmXjQighjgif_jfmSjhjfmKZdmakF
^e_kdimakfkcd)gkmiXmY`hbkdmZfhkgefmmDiUkfam^jghimakfkcd)ghkgemihjmgjdkYjcmj_iImc`c`fkYihbjhjgimiKifm^kIcedhkge
bkhhkgefmdkhicjaifimdZg`bkd]m\gjcibimiQci^kHkmSMgjmk^kghkbkd]mk^geHkmakfkcd)ghkgkmZh`bh`mc`c`bmVjm_kVgkfeXhkg
dkUkf_egkgkdmbjahjdhjgififmifHjhidhjgifimMWgjcbjdmi_ilm%^jhjgifmdZg`fbkae]mZgckdm9i^kchkgefmYjhighjfbjai]mKkheF
Xkbk^kHkdm_`g`b_kmZhkfhkgkm^kg_ebmj_ihbjai]mIkgkfefmYigmkbkKm_jWihmkgkKmZhbkaem_kmkQihiWifmcjbjhmihdjhjF
gif_jf_ilm8i^kaimZcZgicjfifmY`md`g`bhkgm\Ujgif_jmQjgQkfSimYigm_jfjcibim^Zdc`lm
@`g`H`a`mOQimAVgkfmZhkfmkQihiWifmdMdjfhjgi]mjadimE\gdm_jVhjchjgifjmdk_kgm_k^kfeglmOQihid]mjWicibifm_ZW`bF
_kfmMh\bjm_jdm_jVkbmj_jfmYigma\gjKmZh_`W`mVjmjWicib_jmjUYjgHihiWifm_jWihm^kIkgkd]m^kXk^kgkdmMWgjfbjmihF
djaififm`^S`hkf_eWemYigmd`g`b_`lmOQihidcjm^kbkdhedhkmYkXhk^kfmjWicibmKegkdhed]mdkh9khed]m`ackhedmkXkbkhkgef_kf
Zh`X`g_`lmOQihjg]mZd`bkm^kUbkmMWgjfigmVjmbjahjdimjWicib_jfmSjKjghjg_ilmD`f`fhkmYighidcjmE\gdKj]mOgkIKk]
,kgaKk]mbkcjbkcid]mckgiQ]m_if]maIZgmVjmb\UidmSiYimIjdmKZdmkhkf_kmjWicihjgjdm^\dajdmdkgkdcjghimifakfmZhbkd
\Ujgjm^jciXcigihighjg_ilm
DigmOQim1^d\a\m"kI`H`m;kbkmOcehbkd
@7X!gf fdAgef\eh`h
dh]dg!Ncdcf!chd!g
h!fh ga
OW^!hXd\d!T_d! hQ!
Vb!OW_!6ehhXd!T!!
!g^ Z`g! [Zh! b!! eV ^
ehh!X_W[Ygch!gf
f`a UYe be feg! [g^!g
W W] d!T d!g ee\ @!X
d !!VXgf gaAg!f`a7
Xgf !d !X!g!WT X
!d!Z!Zhf]\hfd!!ec]c!h
f]\h!g!TT fhZ!!g![!W
`eeVf`a<b^]f!!hQT[
f]\ hgeR[YZS fh]b!ghf`a OQihjg
Ug!Y!fWdd\OW_!!
>^imYigmkQifif
d!T fdXd bfd! ^f! d!T ! SMU\]m Yjhi]m _ihim dkIkhe
^`hgX]!gfh !Zh!fe`ga Zhbkhem khfe]m dkhYi]m dkF
Ugf\hgfdhY[c c!c![cZ IeaemkKedmZhbkhe_egl
!fhZ!h!gced!X]!ghb b
hb! beY! fh!fd!!hY!^gaU
fbg!eY! fdh]ec]eY!Xh!!
Wh\ec]eXNcdcf!ch bV
f!!hb!bfh\dbde_hc cWe !g
Y!fbbe!f`6d!T_d! hQ!
bVfZ!gWh hf_he[f!
d^f` a
:AdifHi]malm[TN
@k^YZhkfm<jahjdhjg]m<lmOhim;i^kgYkdegheZWh`
GJ
8Z V]_d`cd_ HbQbc[^
SYpWgepnpaqkqhnqkonqk[qkqnVpPgnCPokkqhkomnUomqkiqYlqmrn:hdedWdjdPniolqjkomeojnoeqjeqWqjqPnVqk[qkomq
hdkkpjpmphnUomqkio_ojnCPokkqhkomqnj]hlpkgn_omkomon_pPgjgPr
[l "kgk]mYigmkgkKcegmkbkKmZh_`W`mckd_ig_jmkQhkdim_jWjghjgjmk^degemQ)hjmSjhigl
Tl D`fhkgkmYjfUjgmMgS\chjfbjhjg]m'ZbkmVjmDiUkfam`^Skghedhkgef_km_kmSMg\h\gl
Llmllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
Gl OQihjgmi^imkQhkd]m^iWichid]mHMbjgchid]mdkQgkbkfhedmVkae9hkgefem_kmckXegl
Jlmllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
Bl 2\f\b\U_jdimF`H`UmQkbmbk__jmakWhk^kfFmdZZIjgkci9hjg]majf_idkhkg]mZgckdmakf_edhkg]mbjahjdmZ_khkge]
jafk9mMgS\chjgififmiXhjVhjgifimSMg\glmDigmfjVimFdgj_imVjgjfmYigFmaZa^khmS\Vjfhidmd`g`b`_`gl
Cl kfkkc]mciHkgjc]m_k^kfeXbkmVjm^kg_ebhkXbkmMgS\c\_\gl
=lmllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
Pl 5jgmbjahjdmSg`Y`f`fmk^gemYigmMgS\chjfbjaimVkg_egl
[Rlmllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
GB
7Z V]_d`cd_ @b\U[cbU][\bc[^
SYpWgepnVqmqjOqnf`ldjepnb:dcd_ qkonqk[qkqnloioknVqk[qkomNnqhqjOqnf`ldjepnqfonVdjkpmgnCPolko_ojnfCPO`h
Uo_pnfCPO`hn[md\kpmgnUomqkiqYlqmrn@qmqjOqnUonqhqjOqnf`ldjepn_pPgkpjkpmgn[`j`i`PkonhpmYgkpYlgmpmphnVd9
kpOpWgjgPnVojPomkqhnUonJpmhkgkghkpmgn`;`jO`nf`ldjpn_pPgjgPrn
7 77 777
T @ojPomczzzzzzzzzzz
D`S\fd\]maZa^khmS\Vjfhidmd`g`b`] zzzzlzzzzzzzzzzl
8Za^khm_k^kfeXbk]m^kg_ebF
dZZIjgkci9]majf_idkmSiYimIjdmKZd
hkXbk]mjbjdhihid pmhkgczzzzzzzzzzz
d`g`b`fmficjhidhjgifimckXegl
zzzlzzzzzzzzzlzz
H @ojPomczzzzzzzzzzz
8jK`dh`hkg_kdim jfm Mfjbhim jafk9 zzzzlzzzzzzzzzzl
MgS\chjfbjhjgi_iglm5jgmbjahjd Sg`F <jahjdimjWicib
Y`f`fm k^gem Yigm MgS\chjfbjaim Vj pmhkgczzzzzzzzzzz
MWgjcibmd`gkhhkgemVkg_egl
zzzlzzzzzzzzzlzz
D @ojPomczzzzzzzzzzz
1Ujh_jm^\dajdmYigmkQhkdmVjmdkgkdF zzzzlzzzzzzzzzzl
cjg]m Sjfjh_jm iajm cZIh`bakhm `^`b AWicibifmkbkHe
VjmQZXSMg\mZh`Xc`gbkmjWicibifmQjF pmhkgczzzzzzzzzzz
_j9imZhkgkdmYjfibajfbiXcigl zzzlzzzzzzzzzzlz
? @ojPomczzzzzzzzzzz
AUYjgHihidm^Zdc`gm^kIkgkd]m^kXkF zzzzlzzzzzzzzzzl
^kgkdm MWgjfbjm ihdjaim KjgKjVjF AWicibm^MfcjbmVjmcjdfidhjgi
aif_jm jWicibm Vjgihiglm DihSi]m `^S`F pmhkgczzzzzzzzzzz
hkfkgkdmQk^kckmSjKigihigl
zzzlzzzzlzzzzzzz
7 @ojPomczzzzzzzzzzz
?kbkdhedckfmYkXhk^kfma\gjK]m`aF zzzzlzzzzzzzzzzl
AWicib_jmQkUegmY`h`f`Xh`dmVj
ckheWkmdk_kgmdk_jbjmdk_jbjmihjgF
a\gjdhihid pmhkgczzzzzzzzzzz
hjgm Vjgihjfm YihSim _jm Y`fkm SMgj
kgckgmVjmKjXichjfigl
zzzlzzzzzzlzzzzz
8 @ojPomczzzzzzzzzzz
zzzzlzzzzzzzzzzl
AWicib]mQjgmYigj^miKifmSjgjdhi_igl AWicib_jm9egakcmVjmibd)fmjXichiWi
pmhkgczzzzzzzzzzz
zzzlzzzzzzzzzlzz
GC
OckYj^hid
5`fhkg_kfmiciYkgjfmc\bmE\gdm_jVhjchjgi]m_jVhjcm^MfjcibifjmY\^\dmMfjbmVjgbiXciglm5\d\b_kghkg]mdjf_ihjF
gif_jfmaZfgkm_km_jVhjcifmS\Kh\mVjmakWhkbmdkhbkaemkbkHemihjmckQckmSjKjYihjHjdmc\bmZW`hhkgefefmjfmi^imXjdih_j
^jciXcigihbjaimiKif]maiacjbhjXbiX]mSjhjfjdajhmYigm^ZhmiUhi^Zghkg_elm8jhK`dh`ma`hckfhkgemMUjhhidhjm`Kmj^khjchjgifj
Qjf\Um^kXhkgemd\K\dmZhkfmXjQUk_jhjgifimVkhimZhkgkdmck^ifmj_i^Zghkg_elm2jfKmVjm_jfj^ibaiUmXjQUk_j]mihjgi_j
_jVhjcim^MfjcjYihbjdmiKifmSjgjdhimYihSimVjmYjHjgihjgi]mVkaim:bigkaem^MfjcjfNmVjmjWiciHimae9kce^hkmkckfbeXmYigmkckYj^
dehkV`Uh`W`f_kmMWgjfi^Zg_`lm
E\gdhjgmckgiQmYZ^`fHk]mcZIh`bmiKif_jmak^SefhedmdkUkfbeX]m^ZhmSMacjgjf]mj_jImMWgjcjfm`h`mdiXihjgjm!kck
`fVkfefemVjg_ihjglmOckmVjmYj^mdjhibjhjgif_jfmZh`XkfmkckYj^m`fVkfe]m8jhK`dh`hkgm_jVgif_jmZgck^kmKedbeXcegl
D`mdkVgkb]mhkhkmdkVgkbe^hkmKZW`mUkbkfmYighidcjmVj^kmYigYigififm^jgifjmSjKjHjdmXjdih_jmd`hhkfehbeXceglmD`m`fF
VkfemckXe^kfmihdmdiXim*iUkb\hb\hd3c\glmOckYj^hjg]m\ac\fmYigmIk^jmakQiYimZh`ghkgmVjm_jVhjcmIgZcZdZh\f_jmMfjbhi
diXihjgmkgkaef_km^jgmkheghkg_elmD`m_`g`b_kfmkckYj^hiWifmD\^\dm8jhK`dh`m;jVhjci3f_jmKZdm^\dajdmYigmSMgjVmZhF
_`W`mVjmaZfgk_kfmYigm`fVkfmficjhiWimkh_eWemkfhkXehbkdck_egl
jQUk_jhjgifmihjgi_jmckQckmKedbkmZhkaehedhkgemY`h`f_`W`f_kfmjWicibhjgif_jmYjYjdhidhjgif_jfmYkXhkfkgkd
kckYj^hjgmSMgjVhjf_igihig_ilmOckYj^]maZg`bh`mZh_`W`mXjQUk_j^imjWicigdjfmKZdmSjfiXm^jcdihjgjmakQiIcilmOckYj^
ckgk9ef_kfmXjQUk_j^jmMfHjhidhjmkadjg0mjWicibmVjgihig_ilm@\hc\gm_jgahjgimidifHim_jgjHj_j^_imVjmXjQUk_jfifm^jF
cjfjWifjmSMgjm_\Ujfhjfig_il
OckYj^hjgm\ac\fmkadjg0mYkXkgemSMacjgjfmdZb`ckfhkgmkgkaef_kfmajKihjf]mi^imQ`^h`]m_jVhjcjmak_ed]mHja`g]
kdehhe]mk_khjcmVjmQZXSMg\makQiYi]mIgZYhjbmKMUbjm^jcjfjWifjmakQiI]mZhS`fmdiXihjg_ilmOhIkgahkf3efmQjf\Umd\K\d
^kXckmZhkfmVjhikQ_efk]mkadjgmdMdjfhimZhbk^kfmVjUigim*iUkb\hb\hd3\mkckYj^mck^ifmjcbjai]m*iUkb\hb\hd3\f
MfjbifimVjmf\9`U`f`mSMacjgjfmYigmiaciafk_egl
OckYj^hjg]mQZHkhedm^kIcedhkgemXjQUk_jhjgifmY`h`f_`W`mcZIgkdhkgem_km^MfjcbiXciglmD`]mYigma\gjmaZfgkmYigckdeb
akdefHkhkgem_kmZgck^kmKedkgbeXceglmDkXhkfSeKckmdjf_imXjQUk_jhjgifimckQckmKedkgbkdmXjdhif_jmYkXhk^kfmY`
_`g`b]maZfgkmY\c\fm\hdjm^MfjcibifimjhjmSjKigbjdmiKifm^kIehkfmiKmakVkXhkgkm_km^ZhmkKbeXceglm*icjdibmbjgdjU_jf
dZI`dmkckYj^hidm_jVhjchjgififmZgck^kmKedbkae]m8jhK`dh`hkgefmKMd\X\fjm^ZhmkKkfmajYjIhjg_jfmYigi_igl
3Z V]_d`cd_ Fd\e6cbWeD_deHR\X^
?`dkge_kmMUjhhidhjgimVjgihjfmkckYj^hid]m8jhK`dh`hkghkmYkXhk^kf]m4abkfhehkgm_Mfjbif_jm_jmhkhkhedmiabi^hj
_jVkbmj_jfmMfjbhimYigmd`g`b_`glmOckYj^mk_emVjgihjfmMWgjcbjfhjg]mckQckmKedbkmiQcibkhimZhkfmXjQUk_jhjgi
jWicigmZfhkgkmIjdmKZdmdZf`_kmYihSimVjgighjg_il
[l ;jVhjcim^MfjcjHjdmdiXihjgifmMUjhmYigmjWicibmkhF rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
bkaemSjgjdhimbi_ig.m8iUHjmS\f\b\Um_jVhjcmk_kbF
hkgemQkfSimdZf`hkg_kmYihSimakQiYimZhbkhe_eg. rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
K`Y`jOokomqjqPqn_pjephqnj]hlpkgnpkpjpn_pPgjgPrn y rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr Tl 8jhK`dh`ma`hckfhkgefefm_jVhjcm^MfjcibimiKifmYihSi
akQiYimZhbkaemSjgjdjfmkhkfhkgmQkddef_kmfjhjgmYiF
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr hi^Zga`f`U.mD`mjWicibifmcjdmdiXim:kckYj^N_jfmkhefF
bkaefefm^kgkghkgem^km_kmUkgkghkgemfjhjgmZhkYihig.
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr q
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr K`Y`jOokomqjqPqn_pjephqnj]hlpkgnpkpjpn_pPgjgPr
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
G=
/Z V]_d`cd_ HbQbc[^
SlpVo_kqWqjn[okqYqinf`moOqjqnpjkplpjnphgYnYoipfgjephqnj]hlpkgnpkpjkpmgnepapnCjOohqnVqk[qkomqjqPeoj
_pmpmkpjpmphne]kedmdjdPr
OckYj^hidm d`g`b`f`f
Zgck^kmKedbkae
lllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllll
GP
Hr ZWqlqionMplhgepn@dkdjpjnK`Y`j`mkom
8jhK`dh`m;jVhjci3f_jmQjbmjWicibmVjmYihibmQk^kcefefmQjbm_jmd\hc\gmVjm`^SkgheWefmSjhiXbjaif_jmMfmIhkfk
KedkfmYkUem_\X\f\ghjgmVkg_eglmAakajfmYigjgm_jVhjcmk_kbe]mjWicibHimVjmb`ckakVVe9mZhkfmY`m_\X\f\ghjg]mE\gd
jWicibm_\X\fHjaififmZh`X`b`f_kmMfjbhimgZhmZ^fkbeXhkg_egl
FqPpi`ki`khnRGPaeeaS
Oaehmk_em5kakf3_eglm$U`fm^ehhkgmVjUighidmVjm_jVhjcmk_kbheWem^kIbeXceglm8jhK`dh`
;jVhjci3fifm YkXkgehem Yigm _Mfjbm SjKigbjaif_jm :OhIkgahkfm Vjm <jhidXkQm UkbkfhkgeN
Y\^\dmdkcdeaemVkg_eglmOahjfm>gkfhe_eglmEed !Qf k_hemjajgim^kUbeXmVjm\fh\m*iUkF
bi^jm<j_gjajhjgifimd`gb`Xc`gl
LoUk#jp RGPPPaeeaS
%fh\mE\gdm_\X\f\g\f\fmYihifjfmjajghjgi]mNd!_ VjmJM_Q!3_eglm<jafjVi]mIjdmKZd
_ihjmKjVgihbiXmVjmc\bm_\f^k_kmihSimSMgb\Xc\glm<jVh)fkmXiighjgif_jmQZXSMg\]mifakf
ajVSiai]mkQhkdim_jWjghjgmSiYimdkVgkbhkgemiXhjbiXciglm<jVhjVihidmckgidkcefefmd`g`H`a`F
_`gl
AdjdfnZimo RGPPPaeeaS
%fh\mE\gdmckakVV`9mXkigimVjm_\X\f\g\_\glmEkIc`dmAbgjm_jgS)Qef_kmdegdm^ehmdkhbeX]
djf_im_j^ibi^hjmIiXbiXciglmOfk_Zh`3f`fmE\gdhjXbjaif_jmjcdifmgZhmZ^fkbeXceglmD`S\f
YihjmdZhk^hedhkmkfhkXehkfmkgemYigmE\gdKj^hjmXiighjgmaM^hjbiXciglm?`f`amAbgj3fifmXiighjgi
JM_Q!3ef_k cZIhkfbeXcegl
Fpfmollqjn0]Op RGPPPaeeaS
Ofk_Zh`3_km^kXkbeXm\fh\mQkhdmjWicibHiai_iglm,edgkhkgefefmc\b\f\fmZfkmkicmZh_`W`
djaifmYihifbjbjdhjmYighidcjm9edgkhkg_kmk^femdeVgkdmUjd)]mjhjXcigjhmYkdeXmkKeae]m_jga
VjgbjmMUjhhiWimSMg\h\glm<j_gjajmQZHkheWemVjmHkbimQZHkheWem^kIceWemaM^hjfiglmOdXjF
Qig3_jm^kXk_eWemYihifbjdcj_igl
0pOgn@ohlpY9gn$okq RGPPPaeeaS
5Zgkakfm_ZW`bh`mZh`Im[TGR3ckmOfk_Zh`3^kmSjh_iWimakfehbkdck_eglmOfk_Zh`3_k
DjdckXihiWifm^k^ehbkaefkmMf_jghidmjcbiXm_\X\fHjhjgimVjmMWgjciai]mJY V9^ d
k_e^hkm^k^ehbeXceglm4abkfhem;jVhjci3f_jm@kIed`h`m4Hkdhkgem_kmZf`fmMWgjciaifimYjfibF
ajbiXciglm5kHemDjdckXFem/jhi]mjajghjgif_jmckakVV`9md\hc\g\fjm^jgmVjgbiXmQZXSMg\mVj
ajVSi^imiXhjbiX]maegmakdhkbkfefmMfjbifimV`gS`hkbeXceglm _Qg!Qf]m>dW ]
NhQQ SiYimjajghjgimVkg_egl
Yghn!pYpnRGPPPGP5aeeaS
E\gdm_ihififmSjhiXbjaimiKifmY\^\dmKkYkmQkgHk^kfmVjmE\gdKjfifmQjgmkhkf_kmd`hhkF
fehbkaefemcjXVidmj_jfmXedm"kXk]m\fh\mE\gdmb`ckakVVe9emDkYkm>h^ka3efmcZg`f`_`gl
@egXjQigmVjmKjVgjaif_jm^kXkbeX]mkQimcjXdihkcefkmdkcehbeXceglm iighjgif_jm^`gcmajVSiai]
_\f^kmYkgeXe]m_Zach`dmVjmdkg_jXhidmSiYimdkVgkbhkgemckakVV`9imYigm_ihhjmkfhkcbeXcegl
iighjgifi cZIhk_eWemjajgififmk_emC!Qf3_igl
JR
+ZeV]_d`cd_ Fa`e@d^d^
SYpWgepn =ok;dhkdn eCjoiqn e`Y`j`mkomqjqjn [Cm`Ykomqjeojn Vqmn hgfign UomqkiqYlqmrn 2jOohqn fp_Jpep
Uomqkoj Vq_][mpJqkomeohqnq\d;kpmgjepjn_pmpmkpjpmphnVdne`Y`j`mkomqjnhqikomn]kedhkpmgjgnVdkdjdPr
<r
-dWbSa]`1^aebYc[eaSa\d^Yae:T_T^Yb\cb\beYaOca]eWK`a]d^d
dcaedcLdcdeNbQ[e]bOSdWaca\YaeNXcX`YX^ZeFdcd^d`eK`a^d`deNdca`
Nd\eYaOca]ebYb^[eRcb\b_eYaO\d`ea`eK`a^cdeaPd]d^e_X\X^X
Rcb`e!dQb^dWae;aY\aSaca\d`de_X\YX^Z5
@ojnhqiqi3
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr Ejbaih0mgjaibm<j_gjajmQZHkhkge
@qmkqWon.kpY ..Z
@omqn[okNnepapnVomqNnepapnVomqrn ;aOcaOdcdPd`e_X\XMXSXWX^Ze;aS`aOdebYc[eaSa\d^Yae]REG
@dn_]knUdmdOdkdhnjomo_oneohnVC_ko3n cX^Ie>acSa>aIeb:cb_IeYd`IebU_edcaedcLdcdedN\a]eOa\dMde:d_1Waca\
@dnagmn[`mNnVdnfpUpYnjomo_oneoh3n
=ojnVojfqjnqYloNnVojnfojqinqYlorn NXcX`^b_]bY[\ZeATUT`Maca\d^eNXLT`eNdcaeK`a^d`de_R\XG
^b_]bY[\Z5
Foneq_onVdneqmojionVC_koNnjoneq_o3n @ojnhqiqi3
Foneq_onp_egjkghlpjnhp;pmnp_egjkghNnjo
eq_o3n
X]\didPnVqmnlohn]k[djnhqYq_qPNnVqmnlohNn
Foneq_onVC_konYpYgn]kidYdPNnjoneq_o3
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
<jafjVi3_jfmajKbjhjg
<<<r
?bSbOOX>cbedcLdca`Yd^Ze=\bECbeOae#b\SCbeNdc^a^a A]kepYn]kpkginqhqiqP
4okne]flpn[qeokqin[Cj`k
\bP^a`eaSa\ca\d^de:bc_[`eb`cbWbNdcaMaPdeKQe?T\_Caedca
0#kepYn]kpkginqhqiqP
WbQY[^Ze"dd\ca\d^eA(O1`ebYc[e_d]bE]be]REcb`Y[ZedS1caG 4okne]flpn[qeokqin[Cj`k
]T`G!XS:dWWae&0PT]ca\e@d]bN[%ebYc[eaSa\d^IeYd`(Ie]bSbOG
OX>dIeb:cb_deNd\e_d]bE][\Z5 @dne`j_pepjn[qeomn]kedh
Mpkpjkpmpnfokpin]kfdj
@ojnhqiqi3
;0V)f3_kfmajKbjhjg
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
<$r
Fa_]bUdcdPd`e_X\XMXSXWX^ZeAT`WaOdIeYd`(eOae]bSbOOX>d
_R`Xcb\Yb_de YXWLXe Oae YTUT`Maca\d^de ;b_1c1]e bYc[e aSaG
\d^YaeR\]bWbe_RWYX^Ze,T`T^TQYaebY[^beUa`cd_ca\eYTQa`G
ca`^a_]aYd\Z5
@ojnhqiqi3
8jbkQm2Macjgiai rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
J[
)Z V]_d`cd_ HbQbc[^
MdldOdhkpmephqnj]hlpkgn_omkomqnioljon[Cmone]kedmdjdPr
*iUkb\hb\hd
Djfm*iUkb\hb\hd]m5Zgkakf3_kmVkghedhemYigmYkYkfefmZWh`mZhkF
gkdm_ZW_`blmOaehmk_ebm5kakf3_eglm>^imYigmjWicibmkh_eblm1fHj
2kUfjhihjgm;jVhjci3fifmQiUbjcif_jmY`h`f_`blmD\^\dm8jhK`dh` *iUkb\hb\hd3\mE\gdmjWicibm
>bIkgkcZgh`W`md`g`h`fHkm8jhK`dh`hkg_km jQUk_jmOhIkgahkf3ef ckgiQif_jmMfjbhimdehkfmMUjhhid]
jbgif_jmKkheXbk^kmYkXhk_eblmOhIkgahkfmckQckmKedceWef_km_k llllllllllllllllllllllllllllllllllllllllllllllllllllllll
ZfkmVjUig]mZWh`m<jhidXkQ3kmkckYj^mZh_`blm;kQkmaZfgkm_km<jF llllllllllllllllllllllllllllllllllllllllllllllllllllllll
hidXkQ3kmVjUighidm^kIceblm llllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllll
Eed !Qf k_e^hkm ckfefkfm jajgib_jm Zg_`f`fm ak_jHj llllllllllllllllllllllllllllllllllllllllllllllllllllllll
E\gdhjgjm_jWih]mc\gh\maZ^_kfm`fa`ghkgkm_k^kfbkaemSjgjdciWimcjF
UifimakV`f_`blm;jVhjcm^Mfjcibififmk_ihmVjmifakfhkgefmb`ch`h`W`
iKifmKkheXkfmYigmaiacjbjmZc`gbkaefemiacj_iblm1gfjWifmQ\d\b_kg]
Qk9ck_kmidimdjUmYihSifhjgimKkWegeImZfhkgefmSMg\Xhjgif_jfmVjmckgF
ceXbkhkgef_kfm ^kgkghkfbkhe_eglm 5\d\b_kgm _jVhjcim ^edbk^k
KkheXkfhkge]mQkgkbmdkUkfKmakWhk^kfhkge]m_jVhjcmaeggefemdZg`bkF DjfmYigm_jVhjcmk_kbemZhakbm*iUkF
^kfhkge]m_\XbkfhkmiXmYighiWim^kIkfhkgemVjm_khdkV`dhkgemYkWeXhkF b\hdmSiYimllllllllllllllllllllllllllllllllllllll
bkbkhe_eglm lllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllll
5jImYihibajVjgmYigm_jVhjcmk_kbemZh_`blmDihSifhjgimVjmYihibF lllllllllllllllllllllllllllllllllllllllllllllllllllll
ajhmKkheXbkhkgem_jacjdhj_ib]mkgkXcegbkHehkgefm^kgkghkfbkaemiKif lllllllllllllllllllllllllllllllllllllllllllllllllllll
d\c\IQkfjhjgm^kIceg_eblm8`hckfmOhIkgahkfmihjmYighidcjm*iUkbi^j lllllllllllllllllllllllllllllllllllllllllllllmihjmihSihi
<j_gjajhjgifimd`g_`blmO^geHkmDkW_kc]m*iXkY`g]mDjhQ]m<`a`h KkheXbkhkgkmMfH\h\dmj_jg_ibl
Vjm_iWjgmYigKZdmXjQig_jm_jmbj_gjajhjgmkKceblmD`mZd`hhkg]m_jVhjc
Ikgkaemihjmd`g`hb`XmIkgkhemVjmY`gah`F^kcehem^\dajdMWgjcibmd`F
g`bhkge^_elm5k^kcebemY`mbj_gjajhjgifmSjhiXbjaimVjm^k^SefhkXF
bkaefkmk_k_eblm<j_gjajhjg_jmc\bmMWgjfHihjgjm9egakcmjXichiWi *iUkb\hb\hd3\fmdiXiajhmMUjhhidhjgimihj
ckfefbkaefkmMUjfmSMacjg_iblm-kheXbkhkgebem8jhK`dh`m8`hckfe YjfUjXjfmMUjhhidhjgibmX`fhkg_eg
OhIkgahkfmVjmZWh`m8`hckfm<jhidXkQmMVS\^hjm_jacjdhj_ihjgl llllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllll
uEkgiQFimhFim8jhK`d3mk_hemjajgif_jm>bkbj__ifmAhm>a9kQkfi llllllllllllllllllllllllllllllllllllllllllllllllllllllll
YjfibmiKifm!*iUkb\hb\hdmQkfSimdkakYk_kmYihibmVjmiaibm^kIF llllllllllllllllllllllllllllllllllllllllllllllllllllllll
beXmVjm_jgifhjXbiXmYigmdibajmVkgakmZf`fmk_efkmYigmYifkmifXk lllllllllllllllllllllllllllllllllllllll
jcbiX]mVkde9md`gb`XmVjmd\c\IQkfjmZh`Xc`gb`Xc`glm_jbiXciglmEkF
giQKimAY`m kbjm_jmAhF<kd_ia0m/j3hF<\gXi_\3hF/jH0Umk_hemjajF
gif_jm !*iUkbi^jm <j_gjajhjgim _\f^kHkm bjXQ`g_`glm D`
bj_gjajhjgifmY`h`fbk_eWemQiKYigmYjh_jm^Zdc`glm5kcckmQiKmdibF
ajfifm`Wgkbk_eWe]m^jg^\U\f\fmakIkmYigmdMXjaimZhkfm6iUgj3^j *iUkb\hb\hd3cjfmMWgjf_iWibmjf
VkgefHk^kmdk_kglm4gk^kmYihjmY\^\Hjd]mS\UjhmYigmbj_gjajm^kIF MfjbhimXj^]mlllllllllllllllllllllllllllllllllllll
cegbeXceglmi9k_jhjgifimd`hhkfbeXcegl llllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllll
*jmb`ch`mdimd`g_`W`bm*iUkbi^jm<j_gjajhjgi]m^\dajdMWgjF llllllllllllllllllllllllllllllllllllllllllllllllllllllll
cibmckgiQif_jmMfjbhimYigm^jgmj_ifbiXmak_jHjm;ZW`m_\f^kaef_k llllllllllllllllllllllllllllllllllllllllllllllllllllllll
_jWih]mDkce3_km_kmYihibifmcjbjhhjgifimZh`Xc`gkfmMfjbhimjWicibmVj llllllllllllllllllllllllllllllllllllllllllllllllllllllll
Yihibmd`g`bhkgef_kfmYigimZhb`Xc`gl
JT
J$Z V]_d`cd_ HbQbc[^
SYpWgepnUomqkojnhokqion[md\kpmgnfqPonjokomne`Y`je`miohloeqm3n@dnhokqion[md\kpmgjepjn_]kpn;ghp9
mphnLoUk#jpnUonCWmolqfqnaphhgjepnVqmniolqjn]kdYldmdjdPrnApPegWgjgPnioljond_[djnVqmnVpYkghnh]_djdPr
jYikg`a
@Zf^kmXjQgi cMgjfi
,kgdhemd\hc\gF
hjg_jfmifakfhkg
*j^majai
8jbkmk^ifi]majF
<jVhjVihid
bkUjfmSMacjgiai
ifkfHe
JL
<jVh)fk
8jhK`dh`hkgm_Mfjbif_jmjWicibjmdkcde_kmY`h`fb`Xm\fh\m_\X\f\gmVjmb`ckakVVe9ceglm5Zgkakf3efmDjhQmXjQF
gif_jm_ZW_`lmDkW_kc]m<jddj]m<j_ifj]m kb]m5khjIm^Zh`^hkmOfk_Zh`3^kmSjh_ilm1fHjm@kgkbkf3k]m_kQkmaZfgk
8jhK`dh`m;jVhjci3fifmYkXdjfcim@Zf^k3^km^jghjXcilm<jVh)fk]m@Zf^k3_kmbj_gjaj_jm_jgamVjgigdjfmEjYgiUhim jbF
ajccifm: jbaNmk_ef_kmYigm_jgViXhjmckfeXcelm5jgmS\fm jbamihjmaZQYjcmj_jfm<jVh)fk]mZf`fm_\X\fHjhjgif_jfmjcF
dihjf_il
<jVh)fk]mjajghjgif_jmY\c\fmifakfheWefmihSihjf_iWimVjmUkbkfmiKif_jm_jWjgifimdk^Yjcbj^jfmcjbkmVjmdZf`hkge
iXhjbiXciglm4]mkhcemHihchidmY\^\dmjajgimNd!_3aif_j Yigmfj^majaimihjmifakfheWkm_ZWg`^`]mi^i^imVjmS\UjhimMW\chj^jf
Yigmb\gXicmJM_Q!M3if_jmdMI\gjgjdmKkWhk^kfmHZXd`fmYigmkXedmNXQdE k_hemjajgif_jmKjVgjaifj
eXedmakKkfmYigmQkciImNh &Q k_hemjajgif_j]mQkhdefmdZg`^`H`a`mVjmk_khjcifm^k^eHeaemZhkgkdmdkgXebeUkmKedF
bkdck_eglm4fkmSMgjmifakfmajVSi^jm_jWjg]mjfm\ac\fmVkghedceglm/iH_kfhkgkmQiKmdibajmYkadem^kIkbkUlmAVgjf_j
`^`bmVjm_k^kfeXbkmjakaceglm5ZXSMg\mVjmi^imkQhkd]mY\c\fmifakfhedmiKifmVkUSjKihbjU_iglm;Z^`ba`U]mdkfedakfF
bk^kfmYigmkXdmiKif_jmXiighj]mb\Uidhj]majbkmihjm^ZWg`hkfm<jVh)fkmifakfemVjmifakfheWemajVbiX]m!8jVi^Zg`U]mQkF
^kcebeUefmS\UjhhiWimZm^\U_jflm_jbiXciglm4f`f]
2jfjmSjh]mSjfjlll
5jgmdibmZh`gakf]mSjfjmSjhmSjfjlll
>acjgmd)9igmZhmiacjgm<jH`aimiacjgmI`cIjgjac
>acjgm^\UmdjgjmYZUb`XmZhmcMVYjfi
$b`ca`Uh`dmdkIeaem_jWihmY`mdkIe]
*kaehakfmM^hjmSjhlll
_i^jgjdmc\bmifakfheWkmajahjfiXimY`f_kf_egl
-Zdm^Mfh\]mQjgm^Mf\^hjmk^_efhed]mihjgim9idighimYigm_\X\f\gmZhkfm<jVh)fk3fefm^\U^ehhkg_kfmYjgimajVihjgjdmZd`fkf
jajghjgi]mS\f\b\U_jm_jmc\bm_\f^k_kmY\^\dmihSimSMgbjdcj_iglm4]m_\X\fHjhjgimVjmXiighjgi^hjmifakfheWefmYkgeXk]
S\Vjfj]majVSi^j]mjUjh0m_Zach`dmVjmdkg_jXhiWj]mSjgKjdmifkfHkmZhkfmMUhjbifim_ihjmSjcigjfmYigmE\gdmY\^\W\mZhkgkd
QjgmSjKjfmS\fm_kQkmKZdmajVihbjdcjmVjmak^ehbkdck_egl
<jVh)fk]mjajghjgifim,kgaKkm^kUbeXceglmE\gdKj]mOgkIKkmVjm'`bHkmXiighjgim_jmVkg_egl
<jVh)fk3fefmZgck^kmdZ^_`W`mMWgjci]m^kXk_eWem_Mfjb_jfmY`S\fjm_jdmMfjbifim^icigbjbiXmQkcckmS\f\F
b\U_jm_kQkmKZdmMfmIhkfkmKedbeXceglm4f`fmYjfibaj_iWim_jWjghjg]mY`S\fmc\bmifakfheWefmYjfibaj_iWimVjm`^F
S`hk_eWem_jWjghjgmZhak^_emd`Xd`a`Um_\f^kmKZdm_kQkmS\UjhmYigm^jgmZh`g_`l
&<kdj_ZfHk &>aIkf^ZhHk
JJZ V]_d`cd_ ?b\][Ubc[^ &,kgaKk &OgkIKk
&'`aKk &,gkfaeUHk
&1UYjdKj &>fSihiUHj
;\f^kfefmIjdmKZdm\hdjaif_jmVjmKjXichim_ihhjg_j]m<jVh)fk3fefm_\X\fHjhjgifi &DZXfkdKk &8egIKk
&;kfHk &>ckh^kfHk
kfhkckfmidim^\U\fm\Ujgif_jmdickImYkaehbeXceglm?kf_k]mY`mdickIhkgefm^kUeh_eWem_ihF
&>aVjKKj &5ifcKj
hjg_jfmYkUehkgemVjgihbiXciglm,kgdhem_ihhjgifmdZf`X`h_`W`]m9kgdhemd\hc\gjmakQiImY` &-jdKj
dk_kgmKZdm\hdj_jm<jVh)fk3^kmihSim_`^`hbkaefefmfj_jfhjgififmfjhjgmZhkYihjHjWifi
aefe9efeU_kmckgceXefeUl
JG
?`f`amAbgj
?`f`amAbgj3fifmQk^kcemQkddef_kmjh_jdimYihSihjgm^jcjghim_jWih_iglm1fHjm5kHemDjdckXFem/jhi3_jf]m_kQkmaZfgk
EkIc`dmAbgj3_jfmjcdihjf_iWimaM^hjfiglm<jfdeYj^jmSMgjmEkIc`dmAbgj3fifm_jgS)Qef_kmdegdm^ehmQiUbjcmj_jgjd
ckakVV`9mcjgYi^jaimkhbeXcegl
Ofk_Zh`3_kmakgk^md\hc\g\mihjmQkhdmd\hc\g\f\fmKZdmYjhigSifmZhkgkdmk^gehbkaefefmciIidmMgfjdhjgimj_jYi^kcmkhkF
fef_km djf_ifim SMacjgiglm OgkIKkfefm Yihibm _ihim Vjm ,kgaKkfefm gjab0m _ihm Zh_`W`m _Mfjb_jm ?`f`am Abgj]m Y`S\fm
Yihj dZhk^hedhkm kfhk^kYihjHjWibiUm kgem Yigm E\gdKj^hjm JM_Q!3efem Zh`Xc`gb`Xc`glm 4dQ c! >dWee k_hem
jajgif_jm_if]ckakVV`9mVjmkQhkdmdZf`hkgefemiXhjbiXcigl
?`f`amAbgj3fifmckakVV`9m_\X\fHjaifjmSMgjmjWicibifmkbkHemifakfefmiKmQjakIhkXbkaefemckbkbhk^kgkd
djf_imVkgheWefemKMU\bhjbjai]mQkckhkgef_kfm_jgamKedkgbkae]mcMVYjmjcbjmZhS`fh`W`fkm`hkXbkae]m5kdd3efm^kF
gkcceWemQjgmXj^_jmS\UjhhidmSMgjYihbjai_iglmD`fhkgem^kIkYihjfmifakf]mZfkmSMgjm!d)bihm^kfimkgi9mifakf_egl
AdjdfnZimonqkonqk[qkqnUomqkojnVqk[qkomeojn_]kpn;ghpmphnpYpWgephqnj]hlpkgn_omkomqne]kedmdjdPr
?kXk_eWem_Mfjb_jmOgkIKkmVjm,kgaKkmMfmIhkf_k
Zhbkaefkm gkWbjfm ?`f`a]m jajghjgifim fiKifm E\gdKj
OgkIKkmVjm,kgaKk^emi^im_jgjHj_jmYihiF ^kUbeXmZhkYihig.
^Zg_`m kbkm Y\c\fm jajghjgifim E\gdKj
^kU_el zzzzzzzzzzzzzzzzzzzzzz
zzzzzzzzllllllzzzzzzzzzzlzz
zzzllzzzzzzzzzlllllllllllllllllllllllllllllllll
iighjgif_jm2khjfZam:6khif`aN]m5iIZdF D`m_`g`b]m?`f`a3`fmQkfSim^Mf\f\mSMacjgig.
gkcjam :5iIZdgkcN] #Zdbkfm 5jdib]
>YgkQib AcQjb]m5khhkHem<kfa`g]mDkF zzzzzzzzzzzzzzzzzzzzzz
^jUicFimDiackbi SiYim_\X\f\gmVjmXkighjgi zzzzzzzzzzzzzzzzzzzzzz
dZf`mj_ifbiXcigl lllllllllllllllllllllzzzzzzzzzzzzzzzz
D`m_\X\fHjhjgif_jfmQkgjdjchjm?`f`a3`fmk^_efmdiF
?`f`a3km SMgjm ifakfhkgm kgkaef_km egd] XihiWimQkddef_kmfjhjgmaM^hj^jYihigaifiU.
_if]mbjUQjImSiYimk^gebhkgmSMUjcihbjF
bjhi_igl zzzzzzzzzzzzzzzzzzzzzz
zzzzzzzzzzzzzzzzzzzzzz
zzzzzzzlllllllllllllllllllllzzzzzzzzz
>hibmihibmYihbjd_\g
>hibmdjf_\fmYihbjd_\g ?kf_kdimXiigif_jfm^ZhkmKedkgkdm?`f`amAbgj3fifmjWiF
8jfmdjf_\fimYihbjUaifm cibmVjmYihibjmYkdeXmkKeaefem^Zg`bhk^efeUlm
?)mfiHjmZdebkd_`g
4debkd_kfmbk3f0mfjm zzzzzzzzzzzzzzzzzzzzzz
@iXim5kdd3emYihbjd_\g zzzzzzzzzzzzzzzzzzzzzz
-\fmZde_`fmYihbjUaifm zzzzzzzzlllllllllllllllllllllzzzzzzzz
5kmYigmd`g`mjbjd_\g
JJ
5kHemDjdckXFem/jhi
J9ZeV]_d`cd_ <bWcbUbc[^
0pOgn@ohlpY9gn$okqnaphhgjepnUomqkojnVqk[qkomqnqjOoko_q\nf]mdkpmgn_pjglkp_gjgPrnApjglkpmgjgPgnfgjgJgjgPep
pmhpepYkpmgjgPkpn\p_kpYgjgPr
5kHemDjdckXFem/jhi
5kHemDjdckXFem/jhi]mSMg\XhjgifimJY V
9jhaj9jaif_jmMUjchjbiXciglm>hibmMWgjfbjfif
SjgjdhihiWim_\X\fHjai]mY`m9jhaj9jfifmcjbjh
YihjXjfhjgif_jfmYigi_igl
4]mMbg\f\mifakfmajVSiaifimVjmQZXSMg\^\
^k^bk^kmk_kbeXceglmAXichidKim_\f^kmSMg\F
X\f\fmMfH\hjgif_jf_iglm!?jcbiXmidimbihhjci
YigmSMg\Imdibaj^imk^eIhkbkbkdmSjgjdciF
WifjmifkfbeXceglm
4abkfhem;jVhjci]m_jVXigbjm`a`h\^hjmZh`XF
c`g_`W`mZg_`^`m5kHemDjdckXFem/jhi3fifm_\F
X\fHjhjgif_jfm ^kgkghkfkgkdm jWicbiXm Vj
Xjdihhjf_igbiXciglm?!ZLgd _jfihjf
Y`mZg_`f`fmYkXef_kmSjfjhhidhjmDjdckXimYig
Ofk_Zh`3_kmQkhdefmk^_efhkfbkaefkmSMf\h kWkmY`h`f`g_`lmD`mfj_jfhjm5kHemDjdckXFe
VjgbiX]mb\gXicm`fVkfemdkUkfbeXmYigmjWicibF /jhi3^jm?!Z!7 _jm_jfihbiXciglm
Hi_iglm4f`fm_jgS)Qef_kmYigKZdm_\X\f\gmVj
XkigmjWicibmkhbeXceglm?`f`amAbgj3fifmQZHkae
EkIc`dmAbgj]mY`fhkg_kfmYigi_iglm
[lm5kHemDjdckXFem/jhi3fifmjWicibHimdiXihiWimQkddef_kmfjhjgmaM^hjfjYihig.
Tlm5kHemDjdckXFem/jhi3fifmKZdmSjfiXmYigmHZWgk9^k_kmjcdihimZhbkaef_kmjWicibHihiWififmVjmMWgjciaififmfjmSiYimYig
gZh\mZhkYihig.
JB
*kagjccifm5ZHk
5ZHk3fefmHibgimbimHibgimYigmkgdk_kXemVkg_eglm%acjhidmKZdm_kmUjfSif_igmY`m_Zac`zmDigmS\fmY`mkgdk_kX]
_jgjmYZ^`mSjUifigdjfmkfi_jfmk^kWemdk^eIma`^km_\XjglmOgdk_kXhkgef_kfmYigimZfkm^kg_ebmjcbjdmiKifmdZXkg
Vjm!AhifiUimVjgif]maiUimKjdiImd`gckgk^eblm_jglm,kdkcmk_kbefmYkXema`^km_kheImKedkg]mYigmc\gh\mjhifimkgdk_kXefk
Vjgbj^jm^kfkXbkUlm;iWjghjgim_jfjghjg]mQjIaif_jm_jmk^femXj^mZh`glm
D`mcjhkXemSMgjfm5ZHk]mQjbjfm^jciXigmVjm!Ahibimkhef]maiUimKjdiImKedkgk^eblm_jglm5ZHkmk_kbefmjhifimc`ckg
VjmYZW`hbkdckfmd`gckgeglm5jgdja]mY`mk_kbefmjhifim5ZHk3fefmfkaehmc`ckYih_iWifimVjmZf`md`gckg_eWefembjgkd
j_jglm5ZHkm_`g`b`mXM^hjmkKedhkgm!4]mHibgimckYikchemYigmifakf_eglm4fkmu/jgifl3m_j_iWifiUmUkbkf]mQiKYigmXj^
VjgbjUlmObkmuOhefl3m_j_iWifiU_j]mfjmZh`gakmZha`f]mcjgj__\cmjcbj_jfmkhegl33m
?`dkge_kdim9edgk_k]mifakfhkgkmYigmXj^mMWgjcbjdmVjm^kg_ebmjcbjdmiKif]mZfhkgefmajVi^jhjgifjmifbjdmVj
kfhk_eWem_ih_jfmdZf`XbkdmSjgjdciWimbjakemVjgihbjdcj_igl
:1UYjd]malmGBFGClN
J8ZeV]_d`cd_ <bWcbUbc[^
@d[`jnplpfCP`n[qVqnhdkkpjegWgigPnVpPgneo_qinUonfCPkomNn0]Op6jgjnJghmpkpmgjepjn;ghpmgkigYlgmrnSYp9
WgepnVqmhp;gjgnfgmpkpegWgigPnVdneo_qinUonUoOqPnfCPkomqjnhp_jpWgn]kpjnJghmpkpmgnVdkd\nl]\kdipnapj[q
iofp%kpmgjnUomqkiohnqflojeqWqjqnfC_ko_qjqPr
@7e_!\gcgc^cZaA
@Jfg!gc`!!WQ!g!gfg!gc`!!aA
@(f \g^!g!gaA
@?hchcfeaA
@YgY^c`caA
@?^g!f\[Y]cY!c!g[haA
,edgkhkgef_kmjWhjf_igigdjfm_\X\f_\gjfm*kaF
gjccifm5ZHk]mi^ihidajVjg_ig]mifakfhkgkm^ZhmSMacjgigl
4fhkgem dMc\h\dhjg_jfm `Ukdm c`cbkdm iKifm djf_ifj
QkamYigmS\h_\g\m\ah`Y`md`hhkfeglm*kagjccifm5ZHk]
QkhdemKZdmi^imckfebkae^hkm)_jckmi^imYigmaZa^ZhZSmifF
akfhkgemi^imckfebkae^hkm_kmi^imYigmIaidZhZS_`gl
,edgkhkgef_kmQkUegHjVkIheWe^hkm^jgimSjh_iWif_j
aMU\f\mjcdihimYiKib_jmaM^hjbjdcjm`ackmZhkfm*kaF
gjccifm5ZHk]mk^femUkbkf_kmcZIh`b_kmYihSjmibkefe
KiUjglmOfk_Zh`mQkhdefefmiQci^kHemZhkfmYihSihjgimVjgigF
djfm b\cjVkUim diXihiWi^hjm ckbm Yigm Qkhdm k_kbe_egl
AhjXcigjhm YkdeXm kKeae^hkm _\X\f_\gbj^jm cjXVid
j_jfm5ZHkm9edgkhkgef_kmdickYimYigm_ihm^jgifjmihSimKjF
diHi]mkdeh_kmdkheHe]mdeVgkdmH\bhjhjgmd`hhkfbeXceglm
,edgkhkge^hkm Qkhdm jWicibif_jm Mfjbhim Yigm ^jgj
akQiImZhkfm*kagjccifm5ZHk]mUjd)]mihSimVjm^jcjfjWifmYigj^hjgmkgkaef_km9kgdhemZh_`W`f`fmYihifHif_j_iglm4]m9edgkF
hkgef_kmjUYjgHihiWimgj__jcbiXmkWegmbj_gjajm_jgahjgifim_jmQZXm\ah`Y`mihjmjhjXcigbiXcigl
*kagjccifm5ZHkm9edgkhkgem_ih_jfm_ihjm_ZhkXbeX]mUkbkfhkm_jWiXidhidhjgjm`WgkbeXmQkcckm5ZHk3^kmkicmZhbk^kf
9edgkhkgmYihjmdjf_iaifjmbkhmj_ihbiXciglm%f\mDkhdkfhkg_kfm4gckmOa^k3^kmdk_kgm^k^ehkfm*kagjccifm5ZHkmihjmihSihi
IjdmKZdmdickIm^kUehbeX]mdkgidkc\gmKiUihbiX]mKiUSim9ihb]m9ihbmVYlmKkheXbkhkgm^kIehbeXcegl
JC
Xedm"kXk
J7ZeV]_d`cd_ <bWcbUbc[^
SYpWgepn,b\dN`1^a6eojnVqmhp;nVo_qlnUomqkiqYlqmrn@dnVo_qlkomqjnp;ghkp9
ipfgjgn ]hd_d\n Yghn !pYp6jgjn jo_qn Udm[dkpiphn qfloeqWqjqn Vokqmko_qjqPr
+ghpmgikpmgjgPg fgjgJgjgPephqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
2kgiYf)bj3_jf OZhfd0
@kb`m_ih_jmVkgmi_imUkYcm\m`ah D\c\fm_ihhjgifmd`gkhhkgemYjhighjfbiXcimVj
D`fhkgkm_\Xb\Xmi_imH\bhjm`dh Y\c\fm)dihm:kdehheNmifakfhkgmY`m_ihhjg_jmZd`F
E\gdm_ihifjmdibajfjmYkdbkUmi_i ^`Im^kUe^Zg_`lm5iKmdibajmE\gdm_ihifjmVj
E\gdhjgjmQjgSiUmSMf\hmkdbkUmi_i d\hc\g\fjmihSimSMacjgbi^Zg_`lmE\gdhjgm_jmZ
E\gdm_kQimYihbjUmi_imZhm_ihhjgi _ihhjgifmifHjhidhjgifimYihbi^Zg_`lm4mUkbkf_k
>fHjm^ZhemZhm`h`mbjfUihhjgi Y`mSMf\hmjQhim:E\gdhjgNm_jmkfhk^kYihaifm_i^j
D`mC!Qf kfefmSjh_im_ihj C!Qf iaibhimY`mjajgm^kUeh_el
@ibmY`m_ihmjQhim_kQimbkfimYihj
:8Z^akh]malmTLLlN
2kgiYf)bj3_jfmYigmak^9k
J3ZeV]_d`cd_ ;a_]XEeHbQbc[^
Yghn!pYpNn<<<rn__repn:mlpnSjpe]kdn(MgmYoaqm)6epn_pYpigYn`jk`nVqmnX`mhnidlpfpUUgJgegmrnX`mh;ojqj
hdkkpjgigjgn_p_[gjna#kon[olqmiohnq;qjni`OpeokonoliqYlqmrnAdhpmgephqnVo_qlkomeon[Cm`ke`W`n[qVqNn`jk`
ofomqn,b\dN`1^aNnVdni`Opeokojqjnpmp;kpmgjepjnVqmqn]kidYldmrnX`mhneqkqjqjnVd[`jnq;qjeonVdkdjedWd
h]Ydkkpmgn(VqkqineqkqNnoeoVq_plneqkqNnmofi'neqknUVrnp;gfgjepj)ne`Y`jomohnYghn!pYp6_pnVdnh]jd_kpnqk[qkq
Vqmniohld\n_pPgjgPrnApPegWgjgPniohldVdnfgjgJgjgPephqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
E\gdm_ihififmSjhiXibimiKifmY\^\dmKkYkmQkgHk^kfmXedm"kXk]m\fh\mE\gdmb`ckakVVe9emZhkfmDkYkm>h^ka3efmcZg`F
f`_`glm@egXjQigmVjmKjVgjaif_jm^kXkbeX]mOQimEjXdihkcefkmdkcehbeXceglm iighjgif_jm^`gcmajVSiai]m_\f^kmYkgeXe]m_ZacF
h`dmVjmdkg_jXhiWimckakVV`9imYigm^kdhkXebhkmkfhkcbeXceglm iighjgifimcZIhk_eWemjajgififmk_emC!Qf3_igl
J=
J/ZeV]_d`cd_ @b\U[cbU][\bc[^
SYpWgephqne`Y`j`mkomqjnoWqlqinpjkp_gYkpmgjgb;pkgYipkpmgjgnqjOoko_q\n[`j`i`PnoWqlqinpjkp_gYnUond_9
[dkpipkpmg_kpnhpmYgkpYlgmgjgPrn@dkedWdjdPnVojPomkqhnUonJpmhkgkghkpmgnj]hlpkgnpkpjpn_pPgjgPr
K`Y`j`mkom ZWqlqinSjkp_gYkpmgb+pkgYipkpmg
FqPpi`ki`kh
ymDihibjmVjmYihibmifakfhkgefkmY\^\dm_jWjgmVjgbiXcigl
ymEed !Qf k_hemjajgif_jm_jVhjcmk_kbhkgefefmfkaehmZhbkaemSjgjdciWifimkfhkcegl
ymO_khjcjmVjm_jVhjcmbjb`gh`W`f_kmSMgjVm_kWehebefefmk_ihmZhbkaefkmY\^\dmMfjbmVjgigl
ym5jgdjaifmiXifimjfmi^imXjdih_jm^kIbkaemSjgjdciWifimaM^hjgl
ym*iUkbi^jm<j_gjajhjgifimd`gb`Xc`gl
ym8jVSi]mdkg_jXhid]mQZXSMg\]mi^imifakfmZhbkd]m`^`bmVjmQ`U`gmiKif_jm^kXkbkdmdZf`hkgefem
LoUk#jp
iXhjbiXcigl
ym5jgmifakfefmjWicihjYihjHjWifj]mjWicib_jmKZH`W`fmUjd)aemVjm^jcjfjWififm_iddkcjmkhefbkae
SjgjdciWifjmifkfegl
ym4fkmSMgjmajVSiaiUhid]mYkWfkUhedmVjmdkcehed]mifakfheWefm_\Xbkfe_egl
ymE\bmifakfhkgkmajahjfjgjdmegd]m_if]m_ihmk^gebem^kIehbkbkaefemiacjgl
0pOgn@ohlpY9g Adjdf
Zimo
ym>fakfefmQjgm^jg_jmk^fem_jWjg_j]m^\HjmYigmVkghedmZh_`W`f`maM^hjgl
ym?`f`a3kmSMgjmjWicibifmcjbjhmkbkHe]mifakfefmdjf_ifimckfebkae_egl
ym5ZXSMg\^\mVjmifakfmajVSiaifim^k^bk^kmKkheXbeXcegl
$okq
ym5khdmjWicibHiaimZhkgkdmdkY`hmj_ihjYihigl
ymDihSififmb`chkdkm`^S`hkfbkaemSjgjdciWifi]m^ZdakmQiKYigmiXjm^kgkbk^kHkWefemaM^hjgl
ym,edgkhkgemihjm\fh\_\gl
Fpfmollqj
0]Op
ym2\h_\g\gdjfm_\X\f_\g\gmVjmjWicigl
ymOQhkdimVjm_\X\fajhmYZ^`chkgem_kmZhkfmY`m9edgkhkgm`b`ch`mZhbk^e]mi^ibajgmZhbk^e]
jhjXcigbj^i VjmjhjXcigihbj^im_jmkfhkcegl
Yghn!pYp
ymE\gdKjfifmMfjbajfbj_iWi]mY`m_ih_jmjajgmVjgbjdcjfmdkKefehkfmYigm_Mfjb_jmE\gdKjm
^kUbeXcegl
ymE\gdmk^_efhkgefefm_kmY`mdZf`_km\ac\fjm_\Xjfim^kIbkaemSjgjdciWifimaM^hjgl
ymOQhkdimdZf`hkg_kmQkhdemk^_efhkcbk^kmKkheXbeXcegl
8jhK`dh`m_\X\f\ghjgimjWicibifmcZIh`bakhmiXhjVhjgifjm_jWifjfmjajghjgmVjgbiXhjg_iglm4fhkgefmjajgmVjm_\X\fF
Hjhjgimd`Xkdckfmd`XkWkmkdckgehbeX]mS\f\b\Ujmdk_kgm_jWjgifimdZg`b`Xc`glmD`mjajghjgmkQhkd]mi^ihid]mckakVV`9]
ai^kajc]m_ih]mS\hbjHj]mQZXSMg\mVYlmkhkfhkg_kmcZIh`b`fmjWicihbjaif_jmMfjbhimgZhmZ^fkbeXcegl
JP
+
:=LSFG<nKZ$GZXQ6FKZnZ&QXQL
Hazrlanalm
[lm<kQkhhjmbjdcjYi]mbj_gjaj]m;kg\h9\f`fmSiYimjWicibmd`g`bhkgemaiUjmfjmKkWgeXcege^Zg.
Tlm4abkfhem;jVhjcimQkfSim_Mfjbhjg_jmjWicibmkhkfef_kmgj9Zgbm^kIbk^kmiQci^kKm_`^b`X
ZhkYihig.
4abkfhem;jVhjci]m[TPP3_km8MW\cFDihjHid3cjmd`F
g`h_`lm7/F/lm^\U^ehhkg_kmOfk_Zh`3_kfmO9gidk]
Oa^kmVjmOVg`Ikmdeckhkgefkm^k^ehkgkdmaefeghkgefe
SjfiXhjccilm[GJL3cjfmiciYkgjfm?\dajhbjm;Mfjbifi
^kXkbk^kmYkXhk_elm/7lm^\U^eh_km_\f^kfefmjf
S\Kh\m_jVhjchjgif_jfmYigimdZf`b`fkmSjh_ilm
5k
U
kgm
@kgk_jfiU
;j
?\dajhbjm ;Mfjbif_jm :[GJLF[JCPNm kadjg0]
f
A_igfjm m>ackfY`h
iUi
ai^kai]maZa^khmVjmjdZfZbidmkhkfhkg_kmS\Kh\mYig D`gak
4abkfhem;jVhjci
_`g`b_kmZhkfm4abkfhem;jVhjci]mjWicibmkhkfef_k
DkW_kc
Od_jfiU
_kmkaehmSjhiXbj^imY`m_Mfjb_jmSjgKjdhjXcig_il
/77lm^\U^ehefmaZfhkgef_kfmiciYkgjfmjadimS\F
H\f\mdk^Yj_jfm4abkfhem;jVhjcim;`gkdhkbk]m2jF
gihjbjmVjm-Md\Xm_Mfjbhjgifim^kXk_elm[m@kaeb
@e
Ue
[PTT3_jmakhckfkcefmdkh_egehbkae^hkm4abkfhem;jVF
h_j
fiU
hjcimQ`d`djfmaZfkmjg_il
?\dajhbjm;Mfjbim4abkfhem;jVhjci3f_jmMfjbhimYihibmVjmd\hc\gmbjgdjUhjgif_jfmYkUehkge
JZeV]_d`cd_ FXcbc[^e
SYpWgephqnlpVk]epn:fipjkgnKoUkolq6jqjnoWqlqinoUmokomqn`;nVCk`ionp_mgkigYlgmrnXpVk]jdjnpklnhgf9
igjepnUomqkojnoWqlqinhdmdikpmgjgjnapj[qneCjoin_pnepneCjoikomonpqln]kpVqkoOoWqjqnpmpYlgmg\nVdkpmph
j]hlpkgn_omkomon_pPgjgPrn@pPgnCPokkqhkomnVqmeojnJpPkpneCjoionpqln]kpVqkqmr
T H D
[lm;1*A< Tlm;1*A< Llm;1*A<
@hkaidm ;Mfjbm RKDHHK8=H\ DkcehehkXbkm ;Mfjbim RK8=H <jXg`ci^jcm;Mfjbi
` !!]f S KHI8\!]f !PPaN` RKHI8KHK8\PPaN` e !
e S Nb!gbdS
lllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllll
LofkohqnUo
B`Ylq_o Q\lqepq /piq ApVpjOgn:hdkkpmg Zjeomdj
XohjqhnGqfokom
4pkplpfpmp_n=dk9
Kpm`kJ`jdj Qepeq M`l`\apjo =gV_pjnLohloVq Loemofo
lpjqfq
BR
4okojohfoknZWqlqiqjn2Pokkqhkomq
BZeV]_d`cd_ D`MacaWacd^
SYpWgepn:fipjkgnKoUkolq6jqjnhkpfqhn([okojohfok)neCjoinoWqlqiqjqjn[ojoknCPokkqhkomq_konqk[qkqnVpPg
p;ghkpipkpmnUomqkiqYlqmrnS;ghkpipkpmgnqjOoko_omohn:fipjkgn[okojohfoknoWqlqiqnaphhgjepnVqk[qnoeqjq9
jqPr
<\ah\bkf]mSk^giF
b\ahibmVjm^kYkfHe
Zd`hhkgemihjmkadjg0mjWicib
DihSifm_jfifHjmkdhk d`g`bhkgef_km9kgdhemjWiF "ZUici9mYihibhjg_jfmKZd
!)hibmSjhbjdcj_iglmhibF cibm`^S`hkbkhkgemVkgF :9iUid]mdib^klllNmfkdh0mYiF
_jfm_jmbj_gjajmjWicibi _egl hibhjgjm:ckgiQ]mkacgZF
khbeXm_ifmYihSifimkfhkF fZbilllNmMfjb
Xehbkdck_egl VjgihbiXcigl
>hdmVjmZgckMWgjcib_j 4abkfhem;jVhjci3fif
jWicibm_ihim4abkfhe Dkhdkfhkg_km9jcQjcciWi
E\gdKjai_iglm?\dajdMWgjF cZIgkdhkg_kfmSjcigihjf
cib_jmVjmYihibmKjVgjhjF Sk^gib\ahibmKZH`dhkg]
gif_jmQ)dibm_ih kadjg0mjWicibifmYigifHih
OgkIKk_egl fjafjaifimZh`Xc`F
g`gl
4abkfhem;jVhjci3f_j
@hkaidm;MfjbmAWicibifif
1Ujhhidhjgi
[Plm^^lefmidifHim^kgeaefk AWicibmMWgjcibmjUYjgF
dk_kgmdeUmKZH`dhkgemihdF Hihid]mckdhicm^Zh`^hkmMWF
Zd`h_kfmaZfgkmjWicibmkhF gjfbj]mkdckgbkHehed
bkbeXcegl \Ujgifjmd`g`h`_`gl
AWicibifmbkhimdk^fkWefe AWicibmkhkfef_kdimcjdF
QkhdmVjmVkde9hkgmakWhkF EkfUibkc3kmdk_kg fZhZidmSjhiXbjhjg_jfm^kF
beXcegl _jVhjcif]mjWicibmd`g`bF gkghkfbk_kmSjK
hkgem\Ujgif_jm_ZWg`_kf dkhefbeXcegl
Yigm_jfjcibmVjmdZfcgZh\
^Zdc`gl
B[
C!hdLdf!^ fdd f\g!M fge!_QfR[!SdY]Xc^c!g!g![!!
`aJ_ !\d_^ fhfc]!gWW![g! f_hb! bcebh a^ feY! f
ddbh!hX_]Xga!]f JY!f!hg\^ fWgc]egcX d]gaLdf!X
g_!chZ\OVZ_dZh`feVeg[` f` aUYeXeg!Whd!gh
Zfg!`f` a^ f_[!! bVfgee[!`fd[cZ`f` aG5PPPaeeag!db!\^ f
dd f!ge!`f`f` a
ROhec]\da21aS
:fipjkgkpmepnZWqlqinMdmdikpmg
5 2m[`jnZWqlqinMdmdikpmg 5 Ap_[gjnZWqlqinMdmdikpmg
y 8iVihmAWicibm@`g`bhkge
5 6kbihjg
5n<jdcjIhjg
5 Ejddjhjg
5n<j_gjajhjg 5 @\c\IQkfjhjg
ymOadjg0mAWicibm@`g`bhkge 5 8kQk9hkg
5 OHjbim4Whkfhkgm4HkWe 5 #ZfHkhkg
5 ?jfiKjgim4HkWe 5 @egkkcQkfjhjg
5 Af_jg`fm:8kgk^m<jdcjYiN 5 'kakcQkfjhjg
Srn2m[`jnZWqlqinMdmdikpmg9=qUqknZWqlqinMdmdikpmg
Trn=gV_pjnLohlo\komq
9ZeV]_d`cd_ @b\U[cbU][\bc[^
SYpWgepnfgV_pjniohlo\komqjqjnloioknCPokkqhkomqnUomqkiqYlgmrn@dnCPokkqhkomqnqjOoko_q\nfgV_pjniohlo\9
komqjqn[`j`i`PeohqnqkhCWmolqiqjnVqmqjOqnhpeoiofq_konhpmYgkpYlgmgjgPrn@okqmkoeqWqjqPnJpmhkgkghkpmgnj]hlpkg
pkpjpn_pPgjgPr
mD`mZd`hhkgkmfWfh ^km_km `fh V _jfig_ilm
m@`g3kf3em^\U\f_jfmVjmjUYjg_jfmZd`bk]mcjbjhmbkcjbkcidmMWF lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
gjcihig_ilm8Zfgkdim_Mfjbhjg_jm^kUemjWicibim_jmVjgihbiXcigl lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mDjX]mkhcem^kXhkgef_kdimdeUmVjmjgdjdmKZH`dhkgemY`mZd`hhkgkmSiF lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
_jg_il
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mAWicibma\gjaim_Mgcm^eh_el
m1WgjcbjfhjgifmZd`bkm^kUbkmYihbjaimVjmcjbjhm_if0mYihSihjgj lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
akQiImZhbkaem^jcjghi^_il lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
m4d`h`fmSi_jghjgimVkde9hkgmVj^kmQkhdmckgk9ef_kfmdkgXehkfeg_el lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mAWicib]mkihjhjgifmiacjWifjmYkWhe^_emUZg`fh`m_jWih_il
BT
8ZeV]_d`cd_ <bWcbUbc[^
SYpWgephqniolqjeonpjkplgkpjn]hdkpnVpYkpipnohqjkqhkomqnqkonVd[`jh`komnpmpfgjepnapj[qnVojPomkqhnUo
JpmhkgkghkpmnUpmegm3nK`Y`jOokomqjqPqnfgjgJgjgPephqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
Qkh]hdkpn@pYkpipn2_h`f`cniqjnSkp_g
Lh[!g`\ege`!gdb!W
f_df!g `!ga <bX^! bh [Y!g
fdh\bh`f`!h!hgZb
Xh ! dh!ga U! Wf ZbX^ dcV]
eVfhWfgZbXh hbh_WbXhbhd!
d fhZ!eVgF
Ocec^c\WbXeZbX^!Y^ f!ggh
h bfd d Wf!g RXd!gS !gF
Oh_gbd h fh [g\ZbXh
gd` gF
Nh `f Y!\Z!de[c!
g!ga Ndf c c! T g_ gga
<bXh[eg\h` 6Td!fd\!]
hf hgF
Nh V e [Ycgc^c!g\ ZbXh g` Z
hgaLgb!he!T!dcdcTe b!
!gaOd`!Z_Vd! hVg
XhZbXhh`ZbXhd[hg
gaNh `eXhZbXh !de! 4d`hkmYkXhk^kfmKZH`dhkg
BL
HrnLoemofokom
4abkfhem;jVhjci]md`g`h`X`f_kfmiciYkgjfmjWicibmVjmYihibjmY\^\dmMfjbmVjgbiXciglmD`m`^S`fmZgckb_k]m_kQk
MfHjdimE\gdm_jVhjchjgif_jfmMgfjdmkhefkfmbj_gjajhjg]m4abkfhehkg_km_kmSjhiXjgjdmVkgheWefema\g_\gb\Xc\glm4aF
bkfhem;jVhjci3f_jmihdmbj_gjajm4gQkfm2kUimckgk9ef_kfm>Ufid3cjm4gQkfi^jm<j_gjajaimk_e^hkmd`g`hb`Xc`glmD`
bj_gjajfifmihdmb\_jggiai]m_MfjbifmMfjbhimYigmYihSifimZhkfm;kV`_Fem@k^ajgi3_iglm>Ufidm<j_gjajaif_jfmYkXdk]
YkXckmD`gakmVjmA_igfjmZhbkdm\UjgjmibIkgkcZgh`W`fmc\bmXjQighjgif_jmYigKZdmbj_gjajmkKehbeXceglm>hdMWgjcib
ajVi^jaif_jdimbj_gjajhjg]mdM^hjgjmdk_kgm^k^ehbeXceglm
<j_gjajhjgifm2jfjhm1Ujhhidhjgi
m<j_gjajhjg_jmSjfjhhidhjmZgckmVjm^\dajdMWgjcibm_\Uj^if_jmjWicibmVjF
gihi^Zg_`]m9kdkcmihdMWgjcibjm:idifHimdk_jbjNm_jfdmZhkfmbj_gjajhjgm_j
Vkg_el
m<j_gjajhjg_jm9edeQ]mdjhkb]mQk_ia]mcj9aig]mbkfced]mYjhkSkc]mh\Skc]mfkQiV]
Qjf_jaj]mkacgZfZbimVjm9jhaj9jmSiYim_jgahjgmZd`c`h`g_`l
m<j_gjajhjg]m^kIcedhkgemihb0m9kkhi^jchjgjmSMgjm_jgjHjmVjmaefe9hkgkmk^geheF
^Zg_`l
m<\_jggiahjg]mbj_gjajhjgifm_jgjHjhjgifjmSMgjmcjg9imj_jghjg_il
mAWicibm_ihimZhkgkdm^k^SefmYiKib_jmOgkIKkmd`hhkfehbkdck^_elm;kQkmaZfgk
,kgaKkm_kmjWicibm_ihhjgimkgkaefkmSig_ilm
$hjbkmVjmMWgjfHihjg]m#jVf0
mhibhjg]mIk_iXkQefmbkdkbef_kmQ`U`gm_jgahjgifjmdkceheghkg_el
m<j_gjajhjgifmbkhimdk^fkWemVkde9hkg_elm
m5k^egajVjgmdiXimVjmkihjhjg]mQkfj_kfm\^jhjgi]m^\dajdm_jgjHjhim_jVhjcmSMgjVhihjgimY`md`g`bhkgefmd`g`h`XmVjmiXF
hjcbjmSi_jghjgifimdkgXehkbkdck^_elm
m4abkfhembj_gjajhjgif_jm9kkhi^jcmSMacjgjfmYihibmk_kbhkgefefm_jVhjchjmVjm_Zhk^eae^hkmai^kaimZcZgicjmihjmS\Kh\
YigmYkWhkgem^Zdc`lm
m;jVhjcifmSjfjhmY\cKjaif_jfmjWicibmVjmMWgjcibm9kkhi^jchjgifjmQjgQkfSimYigmIk^mk^gehbkU_elm
m<j_gjajhjg_jfmbjU`fmZhkfhkgmihbi^jmVjmdkhjbi^jmU\bgjhjgif_jmdk_e]mb\9c\]mXj^Q\hiahkb]mdkUkadjgmZhkgkd
SMgjVmkhe^Zghkg_elm>ackfY`h3`fm9jcQifjmdk_kg]m_jVhjcifmMf_jmSjhjfmd`g`h`Xhkgef_km^MfjciHimZhkgkdm`hjbkmU\bF
gjaifjmbjfa`ImifakfhkgmSMgjVm^kIbeXcegl
<j_gjajm-jXichjgi
>Qciaka
<j_gjajhjgif
m^igbihi] m2jfjhmjWicibmVjgjfmbj_gjajhjg hjgi]m`Ub m bj_gjajF
kf
degdhem SiYim dk
cjSZgihjgj m?igbihimbj_gjajhjg khkfkm S hedmVjg_idhjgi
Mgjm iaib
mb\_jggiaF hkg_elm1 m khegF
k^gehbkaef_k m4c`Uh`mbj_gjajhjg gfj
hjgifmkh_edhkgem
^jVbi^jhjg _ia]m_ifmj Wifm_kg\hQkF
m@egdhembj_gjajhjg W
jakamkhefbeX ceglm1gfjWif ajc\hd`_ icibimbj_gjF
kc]mdk_eh
^j Vbi^j^hj mAhhihimbj_gjajhjg cibim _k edmjWiF
khcbeXm higkm g\
KkheXkfmb\_jg
giahjgifmZhF mOhcbeXhembj_gjajhjg cibim Vj cceI]m ceIm jWiF
gihjfm b
ajhjgjm khcF i_il j_gjaj
_`W`m bj_gj m8kQfFem8jbkfm<j_gjajhjgi
l
beXhem_jfbiXcig m8\hj^bkfi^jm<j_gjajhjgi
m>Qciakambj_gjajhjgi
BG
7ZeV]_d`cd_ <bWcbUbc[^
SYpWgepn:fipjkgnKoUkolq6jqjnqhqnCjoikqnioemofofqnaphhgjepnVqk[qnUomqkiqYlqmrn@dnVqk[qkomqnqjOokoeq9
WqjqPeonVdnhdmdikpmgjnhdmdkdYnpip;kpmg_kpnqk[qkqnjokomnfC_ko_oVqkqmfqjqP3nK`Y`jOokomqjqPqnfgjgJgjgPephq
pmhpepYkpmgjgPkpn\p_kpYgjgPr
=paj9gn=oipjnLoemofokomqn(=ohqPn@Ck`ik`nLoemofo)
>ackfY`h3`fm9jcQififmkg_ef_kfm>ackfY`h3_km,kciQm8`hckf
<jQbjcmckgk9ef_kfmd`g`hkfm8kQfmVj^km8kQfFem8jbkfm<j_F
gjajhjgi]mbj_gjajhjgmkKeaef_kfmYigm_Mf\bmfZdckae_eglmigk
cZIh`bmVjm_jVhjcjmjhjbkfm^jciXcigjfmbj_gjajhjgifmbia^Zf`]
aefeghkgefm Y\^\bjai^hjm _kQkm _km kgcbeXceglm 8kQfFem 8jbkf
<j_gjajhjgi]m^jciXbiXmjhjbkfmiQci^kHefemdkgXehkbkaem^kfef_k
_iWjgmbj_gjajhjgjm_jmaiacjbmZhkgkdmMgfjdmZh`Xc`gb`XmVjmZfF
hkgefm_kmcjXdihkchkfbkaefemakWhkbeXcegl
8kQfFem8jbkfm<j_gjajhjgif_j]m^\dajdMWgjcibmVjmZgckF
MWgjcibm_\Uj^if_jmjWicibmVjgihjfmidimkfkmYMh\bmVkg_elm5jgmYig
YMh\bmajdiUmbj_gjaj_jfmZh`X`^Zg_`lm?\dajdMWgjcibm_\UjF
^if_jdimbj_gjajhjgifmQjgmYigif_jmZfm_Zd`UmZ_km:Q\HgjNmY`F
h`f`^Zg_`mD`m^\dajdmbj_gjajhjg_jmajdiUmb\_jggiamSMgjV
^kIe^Zg_`lm8jdiUmb\_jggiaifmYigjgmZ_kaemVjmjhhimkdKjmS\f_jhiWi
Y`h`fkf]mjdbjdmVjmKZgYkmVjgihjfmYigjgmb\_jggiam^kg_ebHeae
:b`i_NmVkg_elm5jgmbj_gjajfifmZfmYjXmZ_kaefkmidiXjgmkdKj
S\f_jhid]mjdbjdmVjmKZgYkmVjgihjfmYigjgm_kfiXbjfcm:ckhjYjN
8kQfFem8jbkfm<j_gjajaififmdgZdiai ^jghjXcigihig_ilm4gckMWgjcibm_\Uj^if_jmjWicibmVjgihjfmYMh\b\f
:Ejcibbjm<j_gjajhjgiNmQjgmYigmbj_gjajaif_jmZfmYigmZ_kmVkg_emVjmQjgmZ_k^kma`Qcjm:aZ9ckNm_jfjfm\KmMWgjfHi
^jghjXcigihig_illl
8kQfFem8jbkfm<j_gjajhjgifimd`gkfm,kciQm8`hckfm<jQbjc3ifmcjXVidmVjmKkYkhkgemihjm>ackfY`h]mE\gdmVjm>ahkb
_\f^kaef_kfmYihSifhjgimdjf_ifjmKjdjfmYigmYihibmbjgdjUimZh_`lmDkXckm\fh\mbkcjbkcidmVjmkacgZfZbimYihSifimOhi
@`XK`mZhbkdm\UjgjmIjdmKZdmE\gdiackfhemYihSifm>ackfY`h3kmSjh_ilm1fHjhjgimiajm4abkfhemYihSifhjgi]mbkcjbkcid
MWgjfibimSMgbjdmiKifm8jbjgdkfc3kmSi_i^Zg_`l
:Od^\U]malmB[FBT3_jfm_jghjfbiXciglN
=`ko_ipjq_onLoemofokomq
8kQfFem8jbkfm<j_gjajhjgif_jfmaZfgkmd`g`hkfmjfmMfjbhi
jWicibm Vjm Yihibm d`g`b`]m 8\hj^bkfi^jm <j_gjajhjgi^_ilm D`
d`g`b]m@kf`fim8`hckfm8\hj^bkfmckgk9ef_kfm8\hj^bkfi^jm@\hF
hi^jaim iKif_jm ^j_im bj_gjajm Zhkgkdm ^kIcegeh_elm 8\hj^bkfi^j
<j_gjajhjgimihjm4abkfhe]mMgS\fmjWicibifm_Zg`W`fkm`hkXcelmEeI]
ckYikcm:_ZWkmYihibhjgiN]mgi^kUi^jm:bkcjbkcidN]mQj^jcm:SMdmYihibiN
khkfhkgef_km_jgamIgZSgkbhkgefefm^jgmkh_eWemY`mZd`hhkg_k]m_\F
X\f\ghjgifmSMg\XhjgififmckgceXehbkaemYiKibif_jmdjhkbm:>ahkbm9jhF
aj9jaiNm_jgaim_jm^kIeheg_el
@\hhi^jfifmiKif_jmbj_gjaj_jfmYkXdkmQkackfj]mibkgjcQkfj
:^Zda`hhkgkm Vjm MWgjfHihjgjm ^jbjdm _kWecbkdm iKifm d`g`hb`X
Qk^egmd`g`b`N]mckYQQkfjm:b`c9kdN]mQkbkbmSiYimaZa^khmcjaiahjg
8\hj^bkfi^jm@\hhi^jai
_jmY`h`f`^Zg_`l
BJ
3ZeV]_d`cd_ HbQbc[^
Loemofokomeon:hdldkpjnKomfkom
SYpWgephqnlpVk]epnioemofokomeon]hdldkpjneomfkomnUomqkiqYlqmrnXpVk]_dnqjOoko_q\nf]mdkpmgnOoUp\kp9
_gjgPrn/oUp\kpmgjgPgn]kdYldmdmhojnhqlpVgjgPgjnf]jdjephqn=CPk`h`nhdkkpjpVqkqmfqjqPr
:Od^\U]malmBGlNl
2jn+pkgYipb:hdknKgYgcn;kg\h9\f`f3`fmkKeheXef_km8k99jcm"kXk3fefm^kIceWemdZf`XbkfefmiKjgiWifi
kgkXcegkhebm:CJlmak^9k_kdim[BlmjcdifhidmiKifNl
BB
Loemofokomqjn@]Pdkipfg
4abkfhem;jVhjci]m/7lm^\U^eh_kfmaZfgkmai^kai]mkadjg0mVjmjdZfZbidmkhkfhkg_kmZh_`W`mSiYimjWicibmkhkfef_k
_km^kVkXm^kVkXmSjgihjbj^jmYkXhk_elmAWicibmkhkfef_kdimSjgihjbj]mbj_gjajhjgim_jmZh`ba`Umjcdihj_ilm<j_gjajF
hjg_jdimYZU`hbkfefmYkXheHkmfj_jfhjgimZhkgkdmX`fhkgmak^ehkYihigm?jcjgaiUmdiXihjgifmb\_jggiamZhbkae]mkhcmdk_jF
bjhjg_jfmSjhjfmMWgjfHihjgifmjWicibmajVi^jaififm_\X\dmZhbkae]mjWicibmIgZSgkbhkgefefmiQci^kHemdkgXehkbkbkaelm
;MfjbifmIk_iXkQhkge]mjWicibmkhkfef_kdimSjgihjbj^im9kgdmj_jgjdmY`f`fmfj_jfhjgifimkgkXcegbkdm\UjgjmYkUe
_jVhjcmk_kbhkgef_kfmgkIZgmiacjbiXhjg_iglm5kUeghkfkfmgkIZghkgm_ZWg`hc`a`f_kmjWicibmkhkfef_kmeahkQkchkgm:i^iF
hjXcigbjhjgNm^kIehbeXceglm7/lm<`gkc]m_jVhjcmk_kbhkgef_kfmbjbhjdjcifm_`g`b`f`mjhjmkhkfmVjmaZg`fhkgkmKMU\b
cjdhi9mj_jfmgkIZghkgmQkUeghkbkhkgefemiacjbiXciglm8`f`hkfmgkIZghkgmiKif_jmjfmMfjbhiai]m@ZKimDj^3ifmdjf_imk_e^hk
kfehkfm'iakhj3_iglm'iakhj3^jmSMgjmcZIgkdmaiacjbimYZU`hb`Xc`gmVjmQkhdmY`m_`g`b_kfmgkQkcaeU_eglm@`g`h`Xm9jhF
aj9jaim_jVhjcifmVkgheWefema\g_\gbjdmZhkfm?jfiKjgim4HkWem_jVhjchjmKkceXbk^kmYkXhkbeXceglm;jVhjcmk_kbhkge]mg\XF
Vjcm Vjm ihcibkahkm iXm ^kIbk^km YkXhkbeXceglm 7/lm <`gkc]m @ZKim Dj^3ifm gkIZg`m _ZWg`hc`a`f_km YkUem eahkQkc
KkheXbkhkgef_kmY`h`fb`Xc`gl
/ZeV]_d`cd_ ?b\][Ubc[^
SYpWgepnioemofokomqjnV]PdkipnjoeojkomqnVpkghnhgk;gWgn_CjloiqnqkonUomqkiqYlqmrnLoemofokomqjnV]Pdk9
ipfgjpnjoeojn]kpjnJphlCmkomqjNneoUkolqjnoWqlqinfqfloiqjeonio_epjpn[olqmoOoWqnf]mdjkpmgnfgjgJn]mlp9
igjepnVo_qjnJgmlgjpfgn_Cjloiqnqkonlof\qlnoeomohn<rnf`ldjpn_pPgjgPrn@dnf]mdjkpmgjnjpfgkn;CP`ikojoOoWqjo
epqmnCjomqkomqjqPqneon<<rnf`ldjpn_pPgjgPr
<j_gjajhjgif
YZU`hbkmfj_jfhjgi
LoemofokomqjnV]Pdkipfgjgjn]mlp_pn;ghpmpVqko9 LoemofokomqjnV]PdkipfgjgjnCjkojiofqjonepqm
OoWqnf]mdjkpm ;CP`inCjomqkomqn
mm*icjhidhimjhjbkfm^jcjgaiUhiWi]mjWicibmdkhicjaifi mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
_\X\g\gl
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll mlllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll mlllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll mlllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
BC
@r Sfhom'n:hdkkpm
2jhjfjdajhm4abkfhemjWicibmaiacjbif_jmbjdcjImVjmbj_gjajhjg_jfmaZfgkmjfmMfjbhimjWicibmkhcmaiacjbifi
kadjg0mjWicibmd`g`bhkgemZh`Xc`g`^Zg_`lmD`md`g`bhkgmkHjbimZWhkfhkgmbjdcjYi]m?jfiKjgim4HkWemVjmAf_jg`f
<jdcjYimi_ilmO^geHkm<jQcjgQkfj]m6kbYkUQkfjmk_ef_kmd`g`bhkgmVjmkadjg0makfkcmZd`hhkgemVkg_el
Ejbaihim'jaibmOHjbimZWhkfhkgmZHkWe
Hr Aojq;omqn:OpWgc 7lm<`gkcm_Mfjbif_jmd`F
g`h_`lmOHjbimZHkWefemYicigjfmSjfKhjg]mY`gk_k
_kQkm\acmYigmkadjg0mjWicibjmckYimc`c`h`g_`lm?jF
fiKjgihjgm_ZWg`_kfmakgk^emVjmIk_iXkQemdZg`F
bkdhkm Vjm Ik_iXkQefm ^kfef_km akVkXbkdhk
SMgjVhim Zh_`dhkgef_kfm jWicibhjgifjm Y\^\d
MfjbmVjgihig_ilm4g_`^kmdkceh_edhkgef_kmdjf_i
iKhjgif_jm cZIK`hkg]m Q`bYkgkHehkg]m HjYjHihjg
Ejbaihim'jaibm?jfiKjgim4HkWe SiYimkadjg0maefe9hkgemZh`Xc`g`ghkg_el
+Z V]_d`cd_26_XceA[U[ <bWcbUbc[^
AdhpmgepnUomqkojnVqk[qkomeojnapmoholkonpYpWgephqnf]mdkpmgnOoUp\kp_gjgPrn/oUp\kpmgjgPgneoJlomqjqPo
_pPg\nfgjgJgjgPephqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
[l 4abkfhemZg_`a`f`fmkadjgmiQci^kHefefmdkgXehkfbkaemiKifm_jVXigbjm^Mfcjbififmd`hhkfehbkaefefmcjbjhmfjF
_jfhjgimfjhjgmZhkYihig.
Tl 4abkfhem;jVhjci3fif]mjWicibifm_iWjgmkhkfhkgefkmb\_kQkhjmjcbjUdjfmkadjg0mjWicibjmY\^\dmMfjbmVjgbjF
aififmfj_jfhjgimfjhjgmZhkYihig.
B=
Dr Zjeomdj
)Z V]_d`cd_ D`MacaWacd^
ShgYnapmqlpfgjephqnVqk[qkomqNniolqjeonUomqkojkomkonhpmYgkpYlgmpmphnqjOoko_qjqPrnZjeomdjnLohloVqnqko
qk[qkqn;ghpmgikpmgjgPgnpmhpepYkpmgjgPkpn\p_kpYgjgPrn
OHjbi
;jVXigbjm`a`h\ 4Whkfhkg
ihjmSjhjf]majdiUFZf E\gdmkihjhjgifm^kfef_kmd\hc\g] <jdcjYimRUX
ajdiUm^kXhkgemkgkaefF _ih]mSjhjfjdmVjmcjbjhmcZIh`b [Y`h!!g\
_kdim\ac\fm^jcjF YihSihjgififmMWgjfihbjai ge \d!
fjdhimVjmUjdi \W ^ f
MWgjfHihjg _gaS
-edbk
-edbk
:<jU`fi^jcN
?jcjfjd]mDjHjgi]
8kgk^mAWicibi
-kheXdkfhed
Ldf!de!!G5PPPaec]ehgg_ A_igfjm8kgk^e
gd!gh! ffcdddd!g!g 8iIkQimDMh\W\f\f 2khkckm8kgk^e
hdZ@ZhdfA!f![aaa 4d`g^kUkgm@jaibi >YgkQibIkXkm8kgk^e
>adjf_jgIkXkm8kgk^e
!g!\deZ!g!fh]ge!
YcfgcF!g!!!!\g_`fZb
Xh!g!_]hQX!dZh!!g!b
gh!![Zh aO`^ehc^
Z^!g\b!gY \b!`e`!gg!E Af_jg`fmRLd
e_C Ee[fcdddg!dZ f!J_ !!
!ZbXhe[aaa W eXb!cd
gc]eff\
dh\d! Z
U!\W]f _f W!gY!f!g! e ` gaS
db!hT !e!hgf_echdfege
ffbXhgaU`fe[Zf]d
hVhbXh!\dVWYch![Y!g
F
BP
/rnAp_[gjnZWqlqinMdmdikpmgnUon2Pokkqhkomq
J$ZeV]_d`cd_ ?b\][Ubc[^
SYpWgepn:fipjkgneCjoiqjonpqlnVpPgn_p_[gjnoWqlqinhdmdikpmgnaphhgjepnVqk[qnUomqkiqYlqmrn4`j`i`Peo
Vdnhdmdikpmepjnapj[qkomqnoWqlqikonqk[qkqnm]kkomqjqnf`me`miohloeqm3n=gjgJgjgPephqnpmhpepYkpmgjgPkpnlpmlgYgjgPr
Bpfplapjokom
>fakfZWh`]m jadim KkWhkg_kfm Yjgim SMd^\U\f\m iUhjbjdcjfm QjIm QZXhkfbeXceglm D`
bjgkdm_Zh`mSMUhjbhjgif_jfm^ZhkmKedkgkdmckdVibhjgmZh`Xc`gb`X]m_jfiUHihjgmiKifm^Zh
Qkgickhkgem^kIbeX]mQkcckmckgiQmYZ^`fHkmSMdmHiaibhjgififmdZf`bhkgemihjmXkfamVjmdk_jg
kgkaef_kmYkWhkfcehkgmd`gbk^kmKkheXbeX]m`Uk^emifHjhjbjdmkbkHe^hkmgkakcQkfjhjg
d`gb`Xc`gl
'kakcQkfjhjgifmckgiQimDkYih]mAadim?`fkfmVjm<eaegmbj_jfi^jchjgifjmdk_kgm`Ukfegl
DihibmckgiQif_jmd`g`bmZhkgkdmkgU`mj_ihjfmXjdhi^hjmihdmgkakcQkfjmiajm>ahkbm_\f^kaef_k
SMg\h\glmD`]m=TPmajfjaif_jm5khi9jmAhF<j3b`f3`fmDkW_kc3ckmd`g_`g_`W`mkacgZfZbi
gkakcQkfjai_igl
>ahkbmgkakcQkfjhjgimkgkaef_k]m$h`WmDj^mckgk9ef_kfmd`g`hkfm8jbjgdkfcm'kakcF
QkfjaififmMUjhmYigm^jgimVkg_eglmOhim@`XK`mSiYim_jVgifm\fh\mYihibmk_kbhkge]m$h`WmDj^3if
^Mfjcibif_jdimY`mgkakcQkfj_jmKkheXbeXceglmD`gk_kmMUjhhidhjmbjgi_^jfmkhjci^hjm`U`f
a\gjhimSMUhjbhjgm^kIehbeXceglm
4abkfhe3_kdimihdmgkakcQkfj]mEkdi^\__if3ifmd`g_`W`m>ackfY`hm'kakcQkfjai_iglm8`hF
ckfm777lm<`gkc3ckfmkhefkfmigk_jmihjmd`g`hkfmgkakcQkfj]m_jVgifmXj^Q\hiahkbefefmgkak_ef 2Mdm Hiaibhjgififm dZf`bhkF
:SMUhjbifNmSjcigjHjWim`W`ga`Uh`dhkg_kfmYkQajcbjaim\Ujgifjm^ifjmIk_iXkQmjbgi^hj gefemSMacjgjfmYigmKiUib
^edcegehbeXceglm[=B=3_jm'kakcQkfjFimObigjmk_e^hkm^jfi_jfmkKehkfmd`g`b]mihdmgkakcQkF
fjfifmkdeYjcifjm`Wgk^kgkdmL[m<kgcmO^kdhkfbkae3f_km^edehbeXceglmO^kdhkfbk_kfmaZfgkm^jfi_jfmd`g`hkfmgkF
akcQkfj]m[P[[m^ehef_kmSMUhjbmKkheXbkhkgefkmYkXhkbeX]m[P=Tm^ehef_km_kmDZWkUiKim%fiVjgaicjaifjmYkWhkfkgkd
@kf_ihhim'kakcQkfjaimVjm;jIgjbmOgkXcegbkmAfacic\a\mk_efemkhbeXcegl
CR
MkpfqhnKCjoieonZWqlqionMplhgepn@dkdjpjnK`Y`j`mkom
SYpWgepnhkpfqhneCjoin:fipjkgne`Y`j`mkomqjqjnoWqlqikonqk[qkqn[Cm`YkomqnUomqkiqYlqmNn]hd_djdPrn0om
Vqmne`Y`j`m`jnqk[qjqPqn;ohojnqhqnCPokkqWqjqneoJlomqjqPon_pPgjgPr
Djf]m5kHemDk^gkbm/jhilmOfdkgk3_km_ZW_`blmOaehmk_ebm*`bkf3_eglmOfdkgk3_k
@kgkbj_gjaj^imYicig_idcjfmaZfgkm@k^ajgi3_jmckakVV`9mihjmihSihjfbj^jmYkXhk_ebl
8`hckfm77lm<`gkcm\f\b\m_`^kgkdmYjfibmMfHjmOfdkgkmaZfgkm_kmD`gakmbj_gjF
ajhjgif_jmb\_jggiamZhkgkdmKkheXbkbemiacj_il
y 5kHemDk^gkbm/jhi]mckakVV`9hkmihSihjfbiXciglm4fkmSMgj]mifakfhkmEkfge3^emYigYigifjm^kdF
hkXcegbkd]mEkfge3^km`hkXbkdmiKifmdjf_ifimZhS`fhkXcegbkdmSjgjdiglmEkfge3^emjVgjfifmbjgF
djUif_jm SMgjfm 5kHem Dk^gkbm /jhi]m ifakfefm Yigm kgkKm Zh_`W`f`]m Ekfge3fefm Y\c\f
Vkghedhkg_kmSMg\fjYihjHjWifimaM^hjglm4hS`fh`W`fmjfm\acmkXkbkaefkm`hkXkfmdiXi]mSMfF
h\f_jmY`meXeWemSMgjHjdciglmDihibmihjmckakVV`9`mYighjXcigjfm5kHemDk^gkbm/jhi]mjhmjbjWi
ihjmSjKifiImcZIgkWemiXhjbjhjgimiKifmKjVgjaif_jdihjgimjWicbiXciglm>bjHjm_j_iWibiUm^Mfcjb]
5kHemDk^gkbm/jhi Zf`fm_\X\fHjai_igmVjmY`S\fmQ)h)mOfk_Zh`3_kmd`hhkfehbkdck_eglm>Qci^kHemZhkfhkgkm^kgF
_ebmj_ihbjai]m^Zda`hhkgmiKifma\gjdhimYigmKZgYkmdkUkfefefmdk^fkcehbkaem5kHemDk^gkb
:[GF[Jlm^^lN
/jhi3fifm`^S`hkbkhkgef_kf_eglmAajghjgifimE\gdKjm^kUbeXcegl
Djf]m@)ciIm-jhjYilm!5kHem5khi9jm^km_km!5kHem@kh9kmk_e^hkm_kmckfefbkdck^eblmOaeh
k_eb]m<`ack9k3_eglm@\K\dm^kXhkg_k]mOfk_Zh`m<`QkajYjaim_jfihjfm_jVhjcm_kigjaifj
d)ciImZhkgkdmSig_iblm4abkfhemZg_`a`mihjmKjXichimaj9jghjgjmdkceh_ebl
y @)ciIm-jhjYi]m_\UjfhimYigmjWicibmkhbkbkaefkmgkWbjfmYiYhi^ZSgk9^kmVjmSjZbjcgi_j
KkWefefmjfmMfjbhimYihSifhjgimkgkaef_km^jgmkh_elm1UjhhidhjmHZWgk9^kmkhkfef_km^kIceWemKkF
heXbkhkghkm4abkfhemk^_efhkgefkm^jfimYigmYkdeXmkKeaemSjcigbiXciglmDkchkb^`a3`fm4gckm-kW
OVg`IkmYihibifjmjSjbjfmZhkf]m!_\f^kfefm_\UmYigmcjIaimXjdhif_jmZh_`W`mSMg\X\f\mgj_F
_j_jgjdm^jgifm^`VkghkdmZh_`W`f`mYihibajhmZhkgkdmkKedhkbeX]mYM^hjHjmQjbmadZhkacid
UiQfi^jcjmQjbm_jm4abkfhem;jVhjci3f_jmY`h`fkfm^kgemk^_efhkgefmZgck^kmdZ^_`W`mYkWfkU
SMg\XhjgjmdkgXemKedbeXceglm"ZUici9mYihibhjgifmMfjbifjm_iddkcmKjdbiX]mdhkaidmbj_gjajmjWiF @)ciIm-jhjYi
cibifjmcjIdimSMacjgbiXcigl :[BRPF[BJ=Nm
Djf]mAgU`g`bh`m>YgkQibm5kddelm-ZH`dh`W`b_k]mjWicibmkhkfef_kdimjfm\fh\mYihSifF
hjg_jfm_jgamkh_eblm>ackfY`h3kmSjhjgjdmd\c\IQkfjhjg_jmKjXichimYihibajhmKkheXbkhkg_k
Y`h`f_`blmOfaidhZIj_imMUjhhiWimckXe^kfmNT !Qf k_hemdickYebem^kU_eblmD`
jajgib_j]mZd`^kfmQjgdjaifmkfhk^kYihbjaimiKifmak_jmYigm_ihmd`hhkf_eblm@ickYeb_k
kgicbjcid]mbkcjbkcid]mkacgZfZbi]m;\f^k]m2\fjX]mO^mQkddef_kmYihSihjgmVjg_iblm@hiF
bkcZhZim:QkVkmZhk^hkgeNm\UjgifjmZgck^kmdZ^_`W`bmSMg\Xhjg]m_jVgifmKZdmihjgiaifF
_j^_ilm;iWjgmjajgib]md WQX,fQhee:2Mdm6iaibhjgififm5kgjdjchjgifif
?Zg`bhkfbkaeN3_igl
y AgU`g`bh`m>YgkQibm5kdde]mDkce3_kdimYihibajhmSjhiXbjhjgimckdiImjcbiX]mdhkaidmYihSi^i
AgU`g`bh`m>YgkQib _jmiQbkhmjcbjbiXciglm;kQkmKZdm_if0mYihibhjghjmihSihjfbjdhjmYighidcjmKkheXbkhkgef_kmIZUici9
Yihibhjgjm_jm^jgmVjgbiXciglmDigKZdmjajgif_jmYihibifmMfjbifimV`gS`hkbeXceglmEkdVib]mk^
5kddem:[CRLF[C=RN VjmS\fjXmc`c`hbkae]mbkcjbkcid]mHZWgk9^k]mkfkcZbimdZf`hkgef_kmKkheXbkhkgm^kIbeXcegl
C[
Hr ZWqlqieonAojqkoYion0pmoholkomqnUon=]jd;kpmg
Ka E_` h?![
Ldf!J_ dhMeY!g!\XVWgO_Vchdchec]ec]egaG5PPPaeeaO_Vd!g
h\d_` h!h_d! !e[!dee `eb_d_`!!gg![f!bebga
Ldf!bg h\dgXO_Vbgh`d!gg^\O_V]f!g!e!!4d
_Ndh__ h`d!gge!ebgaUgU h!^![YdhMbhhfd!]b!
hebga
Da ?!X(]f!! hd
Lg!e![h`d!gg_ [!\e!XdhM]f!fcX aG5PPP
_GPGaeeagZ` O_Vch!g![!]f!\dhM^ f!U `fdZ!Y!g
!f`_TgZ`f`ga
SYpWgephqn;qPok[o_qnqjOoko_q\n:fipjkgnKoUkolq6jeonoWqlqinpkpjgjepn_p\gkpjnqkhnmoJ]mikpmgjnX`mhq_o6jqj
i]eomjkoYiofqn`PomqjeohqnolhqkomqjonqkqYhqjn;ghpmgikpmepnVdkdjdjdPr
ZWqlqinUon@qkqiko
Foeojkom MdmdifpknZlhqkom
Qk[qkqn=]jd;kpmg
4g_`f`fm HjIQjhjg_jm YkXkgeaeUm ZhF Oadjg0mb\Qjf_iaQkfjhjgif] Dkcem_ihim:,gkfaeUHkNmMWgjcihbjai
bkae <jdcjYFim EeYYi^jFim kQkfjfifm :EeI "ZUiciViUbifmE\gdi^j3^jmSigbjai
_ZdcZg`m^jciXcigig_ilN] OdhimYihibhjgifmMWgjcihbjai
5kgIm4d`h`f`fmkKehbkae
Oadjg0mbZ_jgfhjXbjfifmZh`Xc`g_`W` <eUedkFim5\bk^`fm<jdcjYififm:4g_` ;jVhjcm jhi^hjm Dkcem b\UiWim jWicibifif
d\hc\gm_jWiXbjai Ykf_Za`fkm jhjbkfm ^jciXcigig_ilNm kKehF YkXhkbkae
bkae
CT
J9Z V]_d`cd_ -R\LXcbWbc[^
SYpWgepniplVppjgjn[okqYqinf`moOqnqkonqk[qkqnVpPgnVqk[qkomnUomqkiqYlqmNnqjOoko_qjqPrn:fipjkgnKoUkolq6jeo
L`fk`ipjnapkhgjniplVpp_gn[o;nhdkkpjip_pnVpYkpipfgnjon[qVqnf]jd;kpmne]WdmidYn]kpVqkqm3n=]m[dkp9
_gjgPr
AWicibm iKifm jfm Mfjbhim kgkKhkg_kfm Yigim dickIceglm @ickIhkgefm Ykaeh_eWem bkcYkkhkgefm jgdjfm kKeh_eWem \hdjhjgm
O^F_efhkfbkm-kWefem^kdkhkgdjfm4abkfhem;jVhjci3fjmY`mcjdfZhZi]mOVg`Ik3_kfm^kdhkXedmidim^\Umajdajfm^ehm
aZfgkSjhbiXciglmD`mSjgimdkheXck]mQjbm_jVhjcm^MfjciHihjgififmVjm`hjbkfefmc`c`H`m^kdhkXebemQjbm_jmdkciIVj
QkcckchkgefiXaiUmdkhkHkWem_\X\fHjaimjcdihimZhb`Xc`gl
=gjgJgjgPepn`;n[mdVpnp_mgkgjgPrn@qmqjOqn[md\Nn[okojoh;qkomqjn[Cm`YkomqjqxnqhqjOqn[md\Nn@plgOgkpmgjn[C9
m`Ykomqjqxn`;`jO`n[md\NnfojloPOqkomqjn[Cm`YkomqjqnfpUdjpOphnYohqkeonpmpYlgmipkpmgjgPgn_p\pmphnVqmnlpm9
lgYipn]mlpign_pmplgjgPrnXpmlgYipnf]jdjepndkpYlgWgjgPnf]jd;kpmgnipeeokomna#kqjeonlpalp_pn_pPgjgPr
2jhjfjdajhmjWicibifm^jcjgaiUmdkhbkaemVjm_jWiXjfm_\f^kfefmiQci^kKhkgefkmHjVkImVjgjbjbjaimfj_jfi^hj
jWicibmkhkfef_km^jfimYkUem9idighjgmZgck^kmkcehbeXceglmD`mZgckb_k]m_iWjgmkhkfhkg_kmZh_`W`mSiYimjWicib_jm_jmjadiF
^jfimckgceXbkhkgemZgck^kmKedbeXmVjmY`m9idigmk^geheWe]m4abkfhem;jVhjcimaZfkmjgjfjmdk_kgm_jVkbmjcbiXciglmD`mckgF
ceXbkhkg_kmckgk9mZhkfhkgm\KmkfkmSg`IckmcZIhkfkYihig
*jmSjhjfjdKimfjm_jmDkF
-MU\b\fmDkce3^km^MfjhF
/kgmZhkfmbj_gjajmaiacjF ceHemZh`fkbk^kHkWefe]midi
bjdhjmakWhkfkYihjHjWifj
bififm _jVkbefem akV`F Sg`Y`fmSMg\X\f_jfm_j
VjmSjgKjdhjXjYihjHjWifj
fkfhkgm ^kgkghkfehkYihjHjWifi
ifkfkfhkg
aM^hj^jfhjgm
CL
Dr AojqnZWqlqinMdmdikpmgnUon2Pokkqhkomq
[=LP3_kmihkfmj_ihjfmEkfUibkcm,jgbkfemihjm4abkfhem;jVhjci3f_jmdiXimQkdmVjmMUS\gh\dhjgififm_jVhjcmS\VjfHjai
khcef_kmZh_`W`mi9k_jmj_ihbiXmSk^gib\ahibmQkhdkmkadjghid]mVjgSi]mbjb`gi^jcmSiYimdZf`hkg_kmQkdhkgmVjgihbiXcigl
O^geHk]mY`m9jgbkf_kfmk_efemkhkfmEkfUibkcm;Mfjbif_j]m_jVhjcmcjXdihkcemihjmaZa^khmVjmjdZfZbidm^kXkb_km_k
dMdh\m_\UjfhjbjhjgjmSi_ihbiXciglmD`m_\Ujfhjbjhjg]mDkcembZ_jhif_j]m^kgemhkidm^jfimYigmjWicibmaiacjbififmd`g`hF
bkaefkmUjbifmQkUeghkbeXceglm;Mfjbifm_jVhjcmk_kbhkgefefm_jacjWi^hjmd`g`hkfm^jfimjWicibmaiacjbi]m[=BPm<kkF
gi9Fim$b`bi^jm*iUkbfkbjai3^hjmaiacjbhimYigmY\c\fh\dmdkUkfbeXceglm>hd]mZgckmVjm^\dajdMWgjcib_jfmZh`XkfmY`
aiacjbifm^kfemYkXef_kmSjhjfjdajhmaiacjbm_jm_jVkbmjcbiXcigl
SYpWgephqniolqjkomqnqjOoko_q\nXpjPqiplnKCjoiqjeonoWqlqinpjkp_gYgjepnio_epjpn[okojneoWqYqio
qkqYhqjn;ghpmgikpmepnVdkdjdjdPrn+ghpmgikpmgjgPgnfgjgJgjgPephqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
EkfUibkcm;Mfjbif_jmOKehkfm4d`hhkgmVj
1Ujhhidhjgi
;MfjbifmIk_iXkQemOY_\hbjHic QkhCWmolqin
:[=LPF[=B[N]m[=GJ3cjm^k^ebhk_eWe
Yigm igk_jaif_jm !jWicibifm _ifm Vj [=GCm^ehef_kmKedkgehkfm>hdMWgjcibmEkhibkcfkbjai
_\f^kmkKeaef_kfmQjgdjajmSjgjdhi ihjmihdMWgjcib_jmYkUem_\Ujfhjbjhjgm^kIeh_elm1fHjF
hjgimak_jHjmZd`bkmjWicibimVjgihjfmaeY^kfmbjdcjIF
Zh_`W`f`]mQkhdefmHjQkhjcififmSi_jgihbjai
hjgif_jm^kUbkm_kmMWgjcihbj^jmYkXhkf_elmAWicib_j
SjgjdciWifimYjhigci^Zg]m!Y`f`fmiKifm_jmaeYF M_\hm Vjm _iaiIhifm kfhk^eXef_km Zh`bh`m _jWiXibhjg
^kfmVjmg\Xci^jmbjdcjIhjgif_jm^jfim_\UjfF Zh_`lm5ZHkhkgefm_jfjchjfbjhjgimkbkHe^hkmb\9jcciXF
hjbjhjgm ^kIehkHkWefe]m Yigm _kg\h9\f`f hjgmSMgjVhjf_igih_il
:\fiVjgaicjNmd`g`hkHkWefemi9k_jmj_i^Zg_`l
D`m d`g`bhkgefm ihdm idiaif_jm c\bm 4abkfhe [=G=3_jmg\Xci^jhjgjmbj_gjajm_eXef_kfmMWgjcbjf
Vkckf_kXhkgem_if0mSMgjVhjgifimVjmdjf_imiXF akWhkbkdmkbkHe^hkmE\gdi^j3fifmihdmMWgjcbjfmZd`h`
hjgif_jmdibaj^jmb`QckKmZhbk^kHkdmdk_kg Zhkfm;kg\hb`khhibifFim'\Xci^jmkKeh_el
KjXichimQk^kcmYihSihjgifimMWgjfjHjdhjg]m_kF
g\h9\f`f_km_km\acm_\Uj^_jm_if0mVjmb\aF [=JP3_kfmiciYkgjfmdeUmg\Xci^jhjgimkKehbk^kmYkXF
IjcmYihibhjghjm_jgifhjXjHjdhjg_il hkf_elm >hdMWgjcibifm idifHim dk_jbjaif_jm ^jgm khkf
g\Xci^jhjg]mkadjg0mg\Xci^jhjgmVjmb\hdi^jmg\Xci^jhjgi
^k^iblbjYlSZVlcg Zhkgkdmk^gehe^Zg_`lm<\hdi^jmg\Xci^jhjgififmbjU`fhkge
bjb`gmZh`^Zg]mkadjg0mg\Xci^jhjgmiajm\acmkadjg0mjWiF
cibjmMWgjfHimQkUeghe^Zg_`l
CG
:mlpCWmolqi
>_k_imk_e^hkmYihifjfmZd`hhkgefmihdim:<jdcjYFim,\f`fFe
>_k_i^jN]m>ackfY`h3_kmkKeh_em:[=GJNlm4d`hm_kQkmaZfgk
@`hjhimOadjg0m>_k_iaimk_efemkh_el
Oadjg0mi_k_ihjgjm_kQkmaZfgkm[=CG3cjmihdimkKehkfmb\hdi
i_k_ihjgmjdhjf_il
>_k_ihjg_jm _ifm _jgahjgififm ^kfem aegkm dib^k]m HjYig]
gjaib]m,gkfaeUHk]mE\gdKjmSiYim_jgahjgmVjgihbjdcj^_il
'\Xci^jm\Ujgifjm\Km^ehmjWicibmVjgjfmi_k_ihjg]mYigm\ac
MWgjcibjmMWgjfHimQkUeghkbkfefm^kfemaegkmcjYkk^emdk^F
fkXcegbkmkbkHem_kmckXe^Zg_`l
[=B=3_jm>ackfY`h3_km2khkckakgk^m8`hckfiaimkKeh_elm4gF
ckMWgjcib_jma`hckfimk_e^hkmkKehkfmihdmZd`hmZhkfm2khkckF
<jdcjYFim,\f`fFem>_k_i^jm:aZfgkdimk_e^hkm@`hjhimOadjgim#iajaiN
akgk^m8`hckfiaififmd`g`h`XmkbkHe]mDkcem_ihim:,gkfaeUHkN
Yihjfm4abkfhemVkckf_kXhkgem^jciXcigbjdcil
[=CL3cj]mdibajaiUmKZH`dhkgemdkY`hmj_jfm;kg\XXk9kdkmkKeh_el
[=CG3cj]mi_k_imMWgjcbjfim^jciXcigbjdmiKifm;kg\hb`khhibifFimOhimd`g`h_`l
EkfUibkcm_Mfjbif_jmkKehkfmZd`hhkg_kfmYkUehkgemX`fhkg_eg
LofkohqnUonXohjqhnZWqlqi ApVpjOgn:hdkkpmg
[=GT3_jfmiciYkgjfmkKehkfmZd`hhkg [=LP3_kfmiciYkgjfmkKehkfm^kYkfHemZd`hhkgemMUjhhidhjm>ackfY`h3_k
Dk^ckgm<jdcjYi ^ZW`fhkXbeXceglmD`mZd`hhkgefmjfmckfefbeXhkgemX`fhkg_eg
4gbkfm<jdcjYi 8kifcmDjfZicm:8jfmDjf`kN
<jdcjYFiF<kkgi9FiFO_hi^j *Zcgjm;Zbjm_jm8iZfm:*Zcegm;kbm_jm8iZfN
8kfk^im<jdcjYi 8kifcmZajIQm:8jfmZUj9N
6jVgim@kh9km<jdcjYi 'ZYjgcm@Zhji
@eUm8kfk^im<jdcjYi Objgidkfm@eUm@Zhji :Od^\U]malm[J[F[B[3_jfm_jghjfbiXciglN
A`hfohCWmolqic
Kpm`kJ`jdjdjnp;gkipfg_kpnqk[qkqnpYpWgepnUomqkojnVqk[qkomqneoWomkojeqmqjqPrn=pJJoln!pYp6jgjnp;gYnh]9
jdYipfgjgnVdkpmphnqjOoko_qjqPrn@dnh]jdYipepjn_]kpn;ghpmphnjpfgknVqmn`jqUomfqlojqjnaoeoJkojeqWqjo
epqmn;ghpmgikpmepnVdkdjdjdPrn+ghpmgikpmgjgPgnfgjgJgjgPephqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
CJ
XpjPqiplnKCjoiqjeonZWqlqiqjnXoiokn2Pokkqhkomq
AWicib_jmSjhjfjdajh
^kdhkXebhkgm_jWiXbj^j]
KkW_kXmVjmYihibajhm^kdF
hkXebhkgm^jghjXbj^j
@k_efhkgefmjWicibifj YkXhk_el AWicibmkhkfef_kmDkce
VjgihjfmMfjbmkgccemdeU ckgUem^jfihidhjgm^kIeh_el
KZH`dhkgemiKifmZgckZd`hhkg ;iaiIhifmkgkHemZhkgkdmd`hF
:g\Xci^jNmkKeh_el hkfehkfm9khkdkmdkh_eF
geh_el
?jfimMWgjcibm^Mfcjbhjgi
>hdmdjU]mMWgjcbjfm^jciXciF Vjm^jfim_jgamkgkKmSjgjKF
gjfmZd`hhkgmkKeh_el hjgififmd`hhkfehbkaefk
MfjbmVjgih_il
EkfUibkcm;Mfjbif_jmAWiciF
bifmEjbjhm1Ujhhidhjgi
OVg`Ik3_kmSMgjVmkhkf
8iVih]mMgS\fmbjahjdimmVj _jVhjcmk_kbhkgemVjmk^F
cjdfidmjWicibifmcjbjhhjgi _efhkgefmSjhiXbjhjgif
kceh_el cZIh`bkmckfecehbkF
aef_kmjcdiaimZh_`l
8i^kaimSjhiXbjhjgmaZF
OKehkfm^jfimZd`hhkgef f`H`f_kmZgck^kmKedkf
IgZSgkbhkgefkmQk^kck 4abkfheHehedmi_jkhifimSjgF
_Mf\dm:kdhiNm_jgahjgmdZF KjdhjXcigbjdmiKifmjWicibF
f`h_`l _jfm^kgkghkfeh_elm
4gckmVjm^\dajdMWgjF
cib_jm_\Ujfhjbjhjgm^kF
Ieh_elm>hdMWgjcibmUZg`fh`
Q)hjmSjcigih_im:@kf`F
f`jakaim[=CBNl
CB
XpjPqiplnKCjoiqjeonZWqlqiqjn4okqYqiq
J/ZeV]_d`cd_ <bWcbUbc[^
XpjPqiplnKCjoiqjeonoWqlqinpkpjgjepnio_epjpn[okojn[okqYiokomkonqk[qkqnpYpWgephqnlpmqafoknf`moOq
qjOoko_qjqPr @dneCjoieohqn[okqYiokomqjnX`mhq_o6eoni]eomjnoWqlqiqjne]WdYdn`Pomqjeonjon[qVqnolhqkomq
]kidYldm3nK`Y`jOokomqjqPqnfgjgJgjgPephqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
EkfUibkcm,jgbkfe3fefmZd`fbkae T>DI
T>?7 2jKiHimAWicibm<jHhiaififmd`g`hbkae
>hdmg\Xci^jfifmkKehbkae T>?8
2jfjhm4d`hhkgmDkdkfheWefefm:2jfjhmb\_\gh\d T>?> >hdmMWgjcbjfmZd`h`m:;kg\hb`khhibifNf`fmkKehF
ajVi^jaif_jmi_ilNmd`g`hbkae bkae
T>7T EjbjhmSMgjVhjgif_jfmYigim_jgamdickIhkgefemQkUegF
hkbkdmZhkfmAfH\bjfFim;kfiXifmd`g`hbkae
7ahkQkcm,jgbkfemihjmSk^gib\ahibm4abkfhemVkF T>78
ckf_kXhkgefefmZd`hmkKbkmQkddefefm`h`ahkgF
kgkaemS\VjfHj^jmdkV`Xbkae
T>71 <kkgi9m*jUkgjcim:AWicibmDkdkfheWeNfifmd`g`hF
bkae
>hdmdeUm:ifkaNmg\Xci^jaififmkKehbkae T>7I
T>8D ;kg\h9\f`fm:>ackfY`hm%fiVjgaicjaiN`fmkKeheX
_jfjbjai
CC
qhqmnShgikpmgnUonZWqlqi
EkfUibkc3ckfmiciYkgjfm4abkfhem_jVhjcmVjm9idigmk_kbhkge]m_jVhjcifmKMd\XmVjm_kWehbkaefemMfhjbjdmkbkHe^hk
YkUem9idighjgmihjgima\gb\Xhjg_iglmD`m9idighjgm4abkfheHehed]m>ahkbHehed]mDkceHehedmVjmE\gdK\h\dmkdebhkgefemZh`Xc`gF
b`Xc`glm8MUmdZf`a`mkdebhkg]m_jVhjcmVjm\hdjfifmd`gc`h`XmVjmSjhiXibimiKifm\gjccidhjgimKMU\bmIgZjhjgif_jmjWicibj
Y\^\dmMfjbmVjgbiXhjg_iglmD`fhkgefmjWicibjm^\dhj_idhjgimacgkcjidmgZhhjgmXM^hjmMUjchjfjYihig
qhqmnShgig ZWqlqionA`hkoeqWqn=lmplo%qhnB]kkom
AWicib]m_jVhjcifmd`gc`h`X`f`makWhk^kHkdmjfmMfjbhimkgkKceglmDighidmVjmY\c\fh\W\fmS\F
VjfHjaimZhkHkdm!4abkfhembihhjcififmZh`Xc`g`hbkaemiKif]m9kgdhembihhjchjgmVjm_ifhjgj
:fipjkgOgkgh bjfa`ImKZH`dhkgmkgkaef_km_`^S`mVjm_\X\fHjmYighiWifimakWhkbkdmSjgjdiglmD`miaj
aMUmdZf`a`mKZH`dhkgefmk^femKkcemkhcef_kmjWicibjmckYimc`c`hbkaemihjmb\bd\fmZhkYihigl
AWicibifmi^ihjXcigihbjaimUZg`fh`_`gl
;jVhjcifmd`gc`h`X`f`m4abkfhemQkhdemkgkaef_km>ahkbmifkfKmVjmYighiWififmd`VVjchjf_iF
gihbjaif_jmSMgjfmY`mkdeb]mMUjhhidhjm77lmOY_\hQkbicm_Mfjbif_jm:[=CBF[PRPNmjcdihi
QfkpiOgkgh Zhb`Xc`glmD`m_Mfjb_j]m<\ah\bkfmKZH`dmVjmSjfKhjgjm_kQkm9kUhkm_ifmjWicibimVjgihF
biXciglm>ahkbHehedmkdebefefmjcdiai]mDkhdkfm8kVkXem^ehhkgef_kmkUkhbeXceglm
EjdmYkXefkm`^S`hkbk^kmdZfbkbeXceglmAWicibifm_if_jfmYkWebaeUmQ)hjmSjcigihbjai
@plgOgkgh Vjm^jfimIj_kSZidm^kdhkXebhkgefm`^S`hkfbkaemfZdckaef_kmjcdihimZhb`Xc`gl
;jVhjcifmd`gc`h`X`f`mE\gdh\dmYihifHififmS\Khjf_igihbjaif_j]mSjfiXhjbjaifimiajmE\gd
YighiWififmd`g`hbkaef_kmSMg\glmi^km2MdkhImYkXckmZhbkdm\UjgjmYigKZdmk^_efmckgk9efF
X`mh;`k`h _kfmakV`f`hkfmY`mkdeb]mjWicibifm!bihh0mZhbkaemSjgjdciWifimakV`f`glm?jfimfjaihhjgif
E\gdh\dmVjmE\gdm_\f^kaemQkddef_kmYihSihjf_igihbjaifimMfSMg\glm
J+ZeV]_d`cd_ ?b\][Ubc[^
XpjPqiplnf]jmpfgn]mlp_pn;ghpjnJqhqmnphgikpmgjgjNn:fipjkgnKoUkolq6jqjnepWgkipfgjgnoj[okkoiohnq;qj
]mlp_pnh]_edhkpmgn_]knUon_Cjloikomkonqk[qkqnjokomne`Y`j`_]mfdjdP3n=gjgJgjgPephqnpmhpepYkpmgjgPkpnlpm9
lgYgjgPrnXpmlgYipnf]jdjepndkpYlgWgjgPnf]jd;kpmgnpYpWgephqnj]hlpkgnpkpjpn_pPgjgPr
C=
Ldlkphq_olnKCjoiqjeonZWqlqieohqn4okqYiokom
KZdm^jfihidmVjmSjhiXbjmbj^_kfkmSjhbiXciglmOVF
EZIhkb Tl[JJ TP[ [C=TC LC Gl=GB LBL GJL GT Jl=GG LlT[C CTlTCR
g`Ik3^kmMWgjfHimSMf_jgihbjai]m^`gcm_eXef_kf
Zg_`f`fm jWicibim iKifm a`Yk^hkgm Sjcigihbjai >XdZ_gkm/ihk^jci LB J LGG F F F F F F G[ LGG
Dkagkm/ihk^jci TB G T=R F F [ [JR F F L[ GLR
d Xg :^jfim^MfcjbNmk_emVjgihjfmIj_kSZF DkW_kcm/ihk^jci [[ = PR[ T LLC J B[T T [l[RP T= TlPJP
idm^jfihjXbjmQkgjdjcimihjm_jgamkgkKmVjmSjgjKF Dj^g`cm/ihk^jci [=[ [T JLL J JTP = =LT T[ [lB[C TTC LlJ[[
6jUkigFimDkQgFi
hjgifif]m MWgjcibm ^Mfcjbhjgififm Vjm MWgjcbjf 8j9i_
B= J [LR T T[R GG BlJCR T CT [T[ BlP=T
hjgm :khcm deaebNm ihjm E\gdi^jm aefeghkgem _)Qihif_j EZIhkb =GC [LG PlLRL TT Tl=TJ TPG TPl=RT JB GlGRT [lLBL GBlLLT
dkhkfmihhjgifm:\acmdeaebNmZd`hmVjmMWgjfHim_`F "m8kIckfkbk^kfmgkdkbhkgmiKifmd`hhkfehbeXceglm:FNm1WgjfHimbjVH`chkgemYihifbi^Zgl
g`b`mVjgihbiXciglm>fHjhj^jgjdm_MfjbifmjWicib EkYhZmDihSiai
_`g`b`mQkddef_kmSjfjhmYigm_jWjghjf_igbjm^kF [=P=F[=PPm^ehhkgefkmkicm<kkgi9m8khfkbjai3f_jfmKedkgcehkfmckYhZm:<kQkhhHm
bjdcjIhjgikhefbkbeXceglN
IefeUlm
:8kdkZWh`m[PP[]malm[[ClN
SYpWgephqnVqk[qeojn_]kpn;ghpmphnLdlkphq_olnKCjoiqjeon:fipjkgnKoUkolq6jeohqnoWqlqiqjn[ojokned9
mdidnqkonqk[qkqnjokomnfC_kojoVqkqm3n=gjgJgjgPephqnpmhpepYkpmgjgPkpnlpmlgYpmphnlof\qlkomeonVdkdjdjdPr
CP
Ldlkphq_olnKCjoiqjeon(T>1>9TIE>)nZWqlqiqjn4okqYqiq
Ldlkphq_olnKCjoiqjeonoWqlqinpkpjgjepnio_epjpn[okojn[okqYiokomkonqk[qkqnpYpWgephqnlpmqafoknf`moOq
qjOoko_qjqPrn@dneCjoieohqn[okqYiokomqjnX`mhq_on/diadmq_olq6jqjnoWqlqinfqfloiqn`Pomqjeonolhqkomqjqj
]kd\n]kipegWgjgnlpmlgYgjgPr
T>>E ?jfimd`g`hkfm^kgemhkidmQ`d`d^kgSemaiacjbifif
Q`d`dK`mSjgjdaifibifimdkgXehkbkdmiKifm5`d`d
<jdcjYififmkKehbkae
8kfk^iFim*j9iajm:2\Ujhm8kfkchkgNm<jdcjYifif T>>H /kde9hkgkmYkWhembj_gjajhjgifm<kkgi9m*jUkgjF
kKehbkae cifjm_jVgj_ihbjai
EiHkgjcm<jdcjYFimOhiaim:EiHkgjcm?\dajdZd`h`Nfif T>>D OXkgmVjgSiaifjmjdmZhkgkdmbkkgi9mVjgSiaififmkhefF
kKehbkae bk^kmYkXhkfbkae
5jf_jajFim<\hdi^jm<jdcjYim:<\hdim<\Qjf_iaF
hidm4d`h`NfifmkKehbkaem
T>>? Dj^kUecm;jVhjcm@\c\IQkfjaififmkKehbkae
<jgUi9ZfmObjgidkfm@ZhjififmkKehbkae T>>8
T>>I ;ihaiU:hjgNm<jdcjYififmkKehbkae
@Mghjgm<jdcjYififmkKehbkae T>IE
T>IH 2\bg\dm<jb`ghkgem<jdcjYififmkKehbkae
;kg\h9\f`fm:\fiVjgaicjN`fmcjdgkgmkKehbkae TIEE
=R
<<r LoYmdlq_olnKCjoiqjeonQkhNn:mlpnUonA`hfohCWmolqieohqn4okqYiokom
:hdkn2jOofqnZWqlqi QkhCWmolqi
>hdmkfkZd`h`mMWgjcbjfhjgi]mSk^gib\ahibmdk_efhkgF [P[L3cjmKedkgehkfm2jKiHim>hdMWgjcibm@kf`f`mihjmihdF
_eglm[P[J3cjm;kg\hb`khhibkc3kmYkWhemZhkgkdmkKehkf MWgjcibmUZg`fh`mQ)hjmSjcigihbiXcigl
Ofkm<`khhibjm<jdcjYif_jm<\ah\bkfFE\gdmkfkF >hdMWgjcib]mkhcem^ehmZhkgkdmYjhighjfbiXcigl
Zd`h`mMWgjcbjfhjgim^jciXcigihbj^jmYkXhkfbeXcegl ;jgahjg_jm_gkbkmVjmci^kcgZm`^S`hkbkhkgem^kIehkF
D`mZd`hhkgkmGFJm^kXmSg`Y`mMWgjfHihjgmkhefbeXcegl gkdmjUYjgHihidcjfm`UkdhkXbk^kmKkheXehbeXcegl
;if0m Vjm bihh0m Qid)^jhjgifm Zd`c`hbkae]m ^\g\^\X] 4d`hhkXbkmZgkfefefmkUmZhbkaemVjmZh`ba`Um^kdF
Yj_jfmQkgjdjchjgi]mgjaibmifHjhjbj]mjhmiXimKkheXbkF hkXebhkgmfj_jfi^hjmiacjfihjfmaZf`KhkgmkhefkbkbeXF
hkgefefm^kIehbkaemMfSMg\hb\Xc\gl cegl
'jab0mVjmMUjhmkfkZd`hhkgefefmkKehbkaefkmiUifmVjF 8eY^kfmbjdcjIhjgififmYigmdeabemdkIkfakm_kmjadi
gihbiXcigl ^MfcjbhjmjWicibmQ)h)m_jVkbmjcbjdcj_igl
:mlpCWmolqi A`hfohCWmolqi
>_k_ihjgmSjfjhhidhjmY\^\dmXjQighjg_jmkKehbeXdjf [P[T3_jmQkUeghkfkfm;kg\h9\f`fm*iUkbfkbjaimihj
g\Xci^jhjgmdkakYkhkgkmdk_kgm^k^ehbeXcegl ;kg\h9\f`f_kmdMdh\mgj9Zgbhkgm^kIehbeXcegl
D`m_Mfjb_j]mjgdjdhjgjmVjmdeUhkgkmbkQa`am^kcehe ;kg\h9\f`f`f]mYihibmVjm9jffifm^k^ehbkaefkmQiUbjc
Zd`hhkgmkKehbeXcegl j_jfmYigmd`g`bmZhbkaefkmKkheXehbeXcegl
>_k_ihjg]m_kQkmaZfgkma`hckfimk_efemkhbeXcegl ?`gcm_eXef_kfmQZHkhkgmSjcigihbiX]mYgkfXhkXbk^k
D`mZd`hhkg_km^j_im^ehmjWicibm^kIehbkaemdkgkghkXceF Si_ihbiXciglm
gehbeXcegl E\bmY`mKkYkhkgkmdkgXefm;kg\h9\f`f]mYihibm\gjcjf
8`hckfihjg_jm_ih]mckgiQ]m9jfmYihibhjgi]mbkcjbkcid] Yigmd`g`bkm_Mf\XjbjbiXcigl D`maZf`KckmZm_MfjF
gjaib]m_ifmSiYim_jgahjgmZd`c`hb`Xc`gl bifmai^kai]maZa^kh]mjdZfZbidmXkgchkgem_kmgZhmZ^fkF
beXcegl
SYpWgepndfdk9qnOoeqlnapmoholqnqkonqk[qkqnUomqkojnVqk[qkomqnqjOoko_q\n]jdjnjqlokqhkomqnUonV]_dlkpmgnaph9
hgjepn;ghpmgikpmepnVdkdjdjdPr
4d`bkm^kUbkmMWgjcibif_jmQjF
>hdZd`hhkgmihjmbj_gjajhjgmYigYiF Hjhjbjm^jgifjmQkg9mjUYjgifjm_kF
gif_jfmk^gehkHkdcel ^khem^Mfcjbhjgmd`hhkfehkHkdcel
5jgm^kXkmSMgjm_jgamdickYemQkF
1Wgjcbjfhjgm ak_jHjm Qj_i^j UeghkfkHkdmVjmY`mIgZSgkbefm_eF
_jWihmk^hedm:bkkXNm_kmkhkHkdcel
XefkmKedehbk^kHkdcel
=[
B9Z V]_d`cd_ HbQbc[^
<<r LoYmdlq_olnKCjoiqjeonoWqlqinpkpjgjepnCjoikqnmoJ]mikpmn_p\gkigYlgmrnKCjoiqjnp_egjkpmgNnVdnmo9
J]mikpmgjngYgWgjepnlpmlgYipkpmgjgnf`me`mi`YxnoWqlqikonqk[qkqn;oYqlkqn[Cm`YkomnVqkeqmiqYkomeqmrnSYpWgep
VdjkpmepjnVpPgkpmgnUomqkiqYlqmrn@dn[Cm`Ykomeojn_]kpn;ghpmphnf]mdkpmgnOoUp\kp_gjgPr
Tr KCjoiqjnVokkqnVpYkgnoWqlqinf]mdjkpmgjgnVokqmko_qjqPr
Hr Lolqjkomeoneqkon[olqmqkojn[Cm`Ykomqn/diadmq_olnKCjoiqnoWqlqinmoJ]mikpmg_kpnqkqYhqkojeqmomohnVd
[Cm`Ykomqjn/diadmq_olnKCjoiqnoWqlqiqn`PomqjeohqnolhqkomqjonqkqYhqjn;ghpmgikpmepnVdkdjdjdPrn+ghpmgi9
kpmgjgPgnpYpWgephqnj]hlpkgnpkpjpn_pPgjgPr
iXcigl ?
zm <j_gjajhjgm Q)h)m eahkQm j_ihbjb
ajhjaimck F
4f`fmiKifmbj_gjajhjgifmeahkQembj lllm <kkgi9m *jUkgjci]m ihdZd`hhkg_km jWicibi
m_\f \fm_ jWih ]
giQjm_jWih]mai^kajcjm kicciglm4 khcem^ehkmKedkgegdjfm!D\c\fmbj_jfim \hdjF
ajhj ai_iglmDiUmXib _i
Y`S\f\fmVjm^kgefefmbj hjg_jmjWicibma\gjaimYiU_jfm_kQkm`U`f_`gl
mjcF
EkfUibkcKehkg]mbj_gjajhjgimfiKifm eahkQ D`majYjIcjfmYiUm_jmjWicibma\gjaifim`UkcF
jWihmfjmVkdi cmeahkQmjc bjh i^iU]
bj_ihjgm_i^jm_ bkdmUZg`f_k^eUlmkKedhkbkaefem^kIbeXF
Ulll
fkaehmeahkQmjcbjhi^iUm_i^jm_\X\fbjhi^i j^ 8kcemD ceglm>hdMWgjcibif a\gjaim dZf`a`f_kmY\c\f
\hdjhjgjm `^S`fm Yigm `a`hm ^Zdc`glm @M^m Vj
djfcifm jdZfZbidmSjhiXbjaifjmVjmHZWgk9i
H XkgchkgefkmSMgjmjWicibma\gjaim_jWiXjYihigl
8kcemDj^
7
^k^iblbjYlSZVlcg3_jfm_jghjfbiXcigl
=T
?r AojqkoYionKCjoiqn:fipjkgnK`Y`j`mkomq
!mojfn=pVpapllqj
77l OY_\hQkbic3ifm^jWjfimZhkfm_\X\f\g]m4abkfhe3fefmihdmaZa^ZhZShkgef_kf_eglm;jVhjcif
d`gc`hbkaemiKifmjWicibifm^jfimUkbkfkmSMgjm_\UjfhjfbjaimSjgjdciWim9idgifimakV`f_`lmAWicibif
kbkHefemYj_jf]m_\X\fHjmVjmkQhkdm^Mfhjgif_jfmdiXiajhm^jcjfjdhjgimkgcegbkdmZhkgkdmkKedF
hk_el
Qfipqkn0phhgn@pklpOg]Wkd
[PR=3_jm>ackfY`hm;kg\h9\f`f`mEkYikcmDihibhjgimDMh\b\f_jfmbjU`fmZh_`dckfmaZfgkmMWF
gjcbjfhiWjmYkXhk_elm<kkgi9m*jUkgjcimckgk9ef_kfmOVg`Ik3^kmSMf_jgih_ilm,gkfak]m>fSihcjgj]mDjhF
Kidk]m>aViKgjmVjmOhbkf^k3_kdimZd`hhkgemifHjhj_ilm>ackfY`hm%fiVjgaicjai]m2kUimAWicibmAfacic\a\]
;ihmVjmEkgiQF6ZWgk9^km,kd\hcjaif_jm^MfjciHihidmVjmMWgjcbjfhidm^kIcelm>hdMWgjcib_jmZd`bk
jWicibimQkddef_kmKkheXbkhkgm^kIcelmAWicib_jmS\Ujhmakfkchkgefm:MUjhhidhjmci^kcgZf`fNmMfjbifi
ihdmV`gS`hk^kfhkg_kfmYigi^_ilm-kW_kXmjWicibm_\X\fHjaififmE\gdi^j3^jmSigiXif_jmMfk^kdmZh_`l
q_pn4Chpk\
>ackfY`h3_kmDk^ckgm:/jcjgifjgNm<jdcjYifimYicig_ilmD`S\fmMgS\fF^k^SefmjWicibmXjdhif_jdi
jWicibmckafi9ifim^kIce]mcjgbifZhZimSjhiXcig_ilm1WgjcbjfmaZg`fhkgefkmjWih_ilm5khdKehed]mbihhi^jcF
Kihid]mhkidhid]mbihh0mckgiQ]md\hc\g]m_ihifmak_jhjXbjai]mdk_efmQkdhkgemSiYimdZf`hkg_kmOckc\gd3jmihQkb
dk^fkWemZh_`lm%fiVjgaicjmVjmjWicibmdZfSgjhjgififmMfjbifjmiXkgjcmjccilm;kQkmaZfgkmaZa^ZhZi
KkheXbkhkgem^kIkgkdm>ackfY`hm%fiVjgaicjaif_jmaZa^ZhZimIgZ9jaMg\mZh_`l
=plgn@o_
?jbjf3_jm_ZW_`lm<\hdi^jm<jdcjYifimYicig_idcjfmaZfgkmZgckm_jgjHjhimZd`hhkg_kmMWgjcbjfF
hidm^kIcelm[PRP3_km>ackfY`hm1Wgjcbjfm4d`h`fkmb\_\gmZhkgkdmkckf_elm,jfficjgYi^jm:jWicib
YihibiNmbjahjdm_jgahjgifimZd`cc`l
ZlaoinFo%pl
?\dajdmEiHkgjcm<jdcjYifimYicig_ilm$U`fm^ehhkgmObjgidkmVjm,gkfak3_km^kXk_elmAadiXjQig
<kkgi9m<\_\g\midjfmSMf\hh\mZhkgkdm7lm;\f^km8kVkXe3fkmdkceh_elm[PTRmaZfhkgef_km<ihh0m<\HkF
_jhj3^jmdkcehbkdmiKifmOfk_Zh`3^kmSjKcilmEkgebkm_k^kfkfmVjmdM^hjgifmdkhdefbkaefkmdkcde_k
Y`h`fkHkdmYigmjWicibmaiacjbifimakV`f_`lm-jVgjmdZg`bk]mYj_jfmjWicibi]mb\Uid]mjhmiXhjgi]mckgeb
SiYim_jgahjgifmMfjbifjm_iddkcmKjdcil
=okqin=pVqlnZJojeq
"k_iXkQefmiUfimihjm,gkfak3_kmjWicibmkh_elm-kW_kXmIj_kSZififm4abkfhem;jVhjci3fjmSigF
bjaif_jmjcdihimZh_`lm1WgjcbjfhjgjmgjQYjgmZhbkdmkbkHe^hkm4W!cfQeNfM! :1WgjcF
bjfhjgifm?Zhm2MacjgiHiaiNmk_hemdickYem^kU_elmD`mdickIckm`a`hFimHj_i_jmSMgjmkKehkfmZd`hhkgef
fkaehmZhbkaemSjgjdciWifimkfhkccelmDigm_iWjgmdickYemNW dWLdfQ!M:@eakhcehbeXm4aF
bkfhemEkgiQiN3^i]mihdMWgjcibmckgiQm_jgahjgif_jmZd`c`hbkaemiKifm^kU_el
ZimdkkpanZJojeq
<\hdi^jm<jdcjYif_jfmbjU`fmZh_`lm-jXichimihhjg_jmbkkgi9mb\_\gh\W\m^kIcelm77lm<jXg`ciF
^jc3ifmihkfef_kfmaZfgkmbihhjcVjdihhiWi]m_kQkmaZfgkm_kmbkkgi9mfkUegheWem:bihh0mjWicibmYkdkfheWeN
SMgjVif_j Y`h`f_`lm;kg\h9\f`f_kmjWicibm_jgahjgimVjg_il
=L
B8Z V]_d`cd_ Fa`e@d^d^
SYpWgepn:fipjkgnKoUkolq6jqjnAojqkoYionKCjoiqne`Y`j`mkomqjqjnoWqlqin`Pomqjon[Cm`YkomqjeojnVqm
hgfignUomqkiqYlqmrn2jOohqnfp_JpepnUomqkojnVq_][mpJqkomeohqnq\d;kpmgjepjnepn_pmpmkpjpmphnVdne`Y`j`m9
komqjnhqin]kedhkpmgjgnVdkdjdPr
<r
VPd]d^d`eSRSWbceNd\eRcbWeRcYXPXe_b`bb]d`YaWd^Ze-RSWRcR*d
E\R>aSK\TeRcYXPX^Yb`eNXe_R`XWXeYa\d`ca^aSd`aeb\bU][\Y[^Z
Fb`beLK\ae]REcX^SbceYaPa\ca\eWa`de`aScaeb_]b\[c^bc[Y[\ZeFX\bYb
>a\]ca\d`eESd_RcR*d_eWK`TeYaPdceSRSWRcR*d_eWK`TebP[\c[_e]bU[\Ze=dca
NXeb`cb^YbeK`a^cdYd\Ze;RYa\`eaPd]d^Ie^RYa\`e_Tc]T\aeYbWb`G
^bc[Y[\Ze;dcc(eX`SX\cb\IeaPd]d^Yaea`eK`a^cde>b_]K\TeRcXU]X\X\Z
=O\XEb4Yb`e_Tc]T\eOaeaPd]d^ebcb^bW[QIeaPd]d^e^dcc(Yd\ eb`Mb_
]a_`RcR*deOae>a`ebcbNdcd\dQZeVPd]d^e_R`XSX`Yb_deYTUT`Maca\d^d ;i^kgYkdeg3_kmk_ebemckXe^kfmb\Uj
_d]bEcb\[^cbe^b_bcaca\d^Yaeb`cb]][^Z5
@ojnhqiqi3
lllllllllllllllllllllllllllllllllllll
LdalpfpmnXpmqa9qn:fipjq ..Z
SXcGdeMaYdYd`e6S^b`c[eAaOca]d4`Yae`bS[ceXWLXcb`bMbP[e_RG
Ldalpfpmn/]WmpJ_pnBqfpkofq
`XSX`Ybe Nd\CR_e K`a\d^e Oae Cbc[U^b^e NXcX`^b_]bY[\Ze FX`X
Ldalpfpmn0ofp\ _d]bEcb\[^Yb Ybeb`cb]][^Ze-[`[>e^aOMX]cb\[`[`ebQeRc^bS[eLa\a_G
Lq_pm`6k9Mokpi ]dPd`dIeKP\a]d^eaS`bS[`YbeSR\XeOaeMaObEeWK`]a^d`d`e_Xccb`[cG
ZkqJVp9_gn:fipjq ^bS[eLa\a_]dPd`deNacd\]]d^ZeAa\Sca\Yae]aR\d_eOaeE\b]dPd`edCedCa
QflplqflqWqjnomeoNn/oiq_oloN
Rc^bS[`[`IeXWLXcb^beWbE^b`[`eK`a^d`deb`cb]b`eWbQ[cb\eWbQG
KoUkolon:kpjn0qPiolnUonp_ep9 Y[^ZeAa\Sca\Yae_[Sbe`R]e]X]]X\^b`[`IeYdSdEcd`edCd`eKYTceOaeMaQb
kpmg Oa\^a`d`eLa\a_cdeRcYXPX`X eCRMX_eaPd]d^d`YaeKP\a]^a`e_bYb\
bdca`d`eYaeNTWT_eK`a^e]bU[Y[P[`[eYTUT`TWR\X^Z5
@ojnhqiqi3
<ihh0m@\c\IQkfj_jmY`h`fkfmjajghjgib
lllllllllllllllllllllllllllllllllllll
<<<r
'a^eDS]b`NXce`dOa\Sd]aSd`Yae:a^e,bQdeVPd]d^eV`S]d]TG
ST`Yae WK`a]dMdcd_e WbE][P[^Yb`e Ndcd^e Oae aPd]d^e YT`WbS[`[`
dCd`YaeWa\ebcY[^Zec_a^dQYa_deaPd]d^eb`cbW[U[WcbeaQNa\MdeNd\
`aSdceWa]dU]d\dcYdPd`deYTUT`TWR\X^ZeFdQYaeb]bSKQca\dedcaed>bYa
aYdca`ea`e_XOOa]cdeaPd]d^ed`b`[Ucb\[IeNRUed`b`Ccb\Yb`eNbU_beNd\
UaWeYaPdcYd\ZeD`Sb`eNbUb\[S[IeNdcLdeOaeQa_1Yb`e_bW`b_cb`^bQZ
=Qd^IeSaNb]IeMaSb\a]IeWdPd]cd_Ieb:cb_eWb`de_b\b_]a\d`eT\T`TYT\Z
cXScb\[`eb^bM[IeCRMXPXe:bWb]be:bQ[\cb^b_][\ZeT`_TeaPd]d^I
a`eK`a^cdeSa\^bWaYd\ZeVPd]d^IeWa`dcaU^acdeOaeYaPdU^acdYd\
b^beYdSdEcd`caeKQLT\cTPTe_b\[U][\^b^b_eOaeNXed_dSd`deNd\Nd\d`G
Ya`ebW[\^b_eLa\a_^a_]aYd\Z5 ?MfjciHihiWifim^kIceWebm2kUimAWicibmAfacic\a\
@ojnhqiqi3
lllllllllllllllllllllllllllllllllllll
=G
<$r %fiVjgaicj
VPd]d^d`eEa_eCR_e_bYa^aSd`YaeCbc[U][^Ze;bb\d>e^TYT\cTPT
Oae^bb\d>e`bQ[\c[P[eWbE][^ZeFb`beLK\aeaPd]d^d`eLacdU^aSdeKP\a]G
^a`Ya`eKP\a`MdWaIeT`dOa\Sd]aYa`ecdSaWaeWb`deWX_b\[Yb`ebUbG
P[Wbe Rc^bc[Y[\Ze FXe LK\TUT^Ie ?XNbe =PbM[e !bQb\dWaSd4e Rcb\b_
Ndcd`d\ZeDc_KP\a]d^d`eEb\bS[QeOaeQR\X`cXeRc^bS[eLa\a_]dPd`dedc_
_aQeNa`eSKWcaYd^ZeVPd]d^d`eb^bM[Ie_dUdYa_deNaYa`(eOae`a>Sb`d
&NaYa`eb\QXcb\[WcbedcLdcd%eLTCca\deRcLX`cX_eYa\aMaSd`aeC[_b\^b_G
][\ZeFXeaPd]d^eOa\dcd\_a`eYae_dUd`d`eYRPbceKQLT\cTPTeSbPcb`^bc[I
Wa]a`a_ca\deYd__b]aebc[`^bc[Y[\Z4eYaYd^Z5
@ojnhqiqi3
Ejbaih0mE`YkmOWkHe
lllllllllllllllllllllllllllllllllllll
$r
X`mhq_onFpfgknMdmlpmgkpVqkqm
=``a^Ie-Xc]b`e=NYTc:b^d]4d`e_b\YaUdedYdZe-b\bWeCaO\aG
mXoYoVV`f9qn"pafqnUonXoUfq9qnLoPd9
jq_oln0phhgjepn@qmnQPpa Sd`YaeNTWTYT^eOaedWdeNd\eaPd]d^ebcY[^ZeVPd]d^YaeLaca`a_eOa
XoYoVV`f9qn"pafqnUonSeoi9qnLom9 LK\a`a_ca\d`eYaPdcIeNd\aWd`eLd\dUd^MdeWK`T`T`eK`a^cdeRcYXG
hoPq_oln0phhgjepnQhqjOqn@qmnQPpa PX`XeYTUT`TWR\X^ZeVPd]d^Ie^a^X\eYaPdcIeT\a]dMded`Sb`eWa]dUG
mQllqaplnUonXomphhqn/oiq_olq6jonS;gh ]d\^aWaeWK`acd_eRc^bc[Y[\Ze=O\XEbeTc_aca\deK\`a_ebc[`^bc[IeYa\S
Lohld\kpmNn LofkoWqiqPn 0phhgjep _d]bEcb\[eFb][eS]b`Yb\Y[`YbeRc^bc[Y[\Ze=W\[Mbe_[QeCRMX_cb\[`[`
,;`jO`nUon=]jn@qmnQPpa Ybe R_X]Xc^bS[e Oae T\a]d^ae _b][c^bS[e La\a_]dPd`de YTUT`TWRG
\X^Z5
Aajghjgi @ojnhqiqi3
lllllllllllllllllllllllllllllllllllll
$<r
;Tc_dWae ^aQX`Xe Rc^b^be \bP^a`Ie KP\a]^a`cd_e Na`d^e bS[c
^aScaPd^eRcYXZe..Ze;aU\X]dWa]4d`edcb`[`Yb`eSR`\beDS]b`NXce0P\a]G
^a`e6_XcX`be&DS]b`NXceAb\Tc^Xbccd^d`d2NXLT`_TebEbe=`bYRcX
0P\a]^a`edSaSd%e^TYT\eRcYX^ZeVPd]d^deEaYbLR*d_eOaeNdWRcR*d_e]aG
^acca\eTQa\d`aeR]X\]]X^ZeD`Sb`eWa]deOaeWa]a`a_ca\d`d`IeaPd]d^Yaea`
K`a^cde>b_]K\eRcYXPX`XeYTUT`TWR\X^ZeFaYa`eaPd]d^dIeaPd]d^d`
K`a^cdeNd\eEb\CbS[Y[\Ze@bc[][^SbceKQaccd_ca\eLKQeb\Y[eaYdca^aQZeFaU
?MfjciHihiWifim^kIceWebm>ackfY`hm-kIkm1WF
YXWXeR\Lb`[IeNdcLdeKP\a`^aYaea]_dcdYd\ZeFX`cb\[`ea]_d`eNdCd^Yae_XcG
gjcbjfm4d`h`
cb`[c^bS[eLa\a_]dPd`deOX\LXcbY[^Z5
@ojnhqiqi3
lllllllllllllllllllllllllllllllllllll
..Z
;Xbccd^eHX\YXebY[WcbeNdcd`a`IeKP\a]^a`ca\d`e]b\][U[EeSR:G
Na]eaYaNdcaMaPde_X\X^cb\eRcXU]X\YX^Ze0P\a]^a`ca\d`eK\LT]G
ca`^aSdeOaeSRSWbccaU^aSdWcaedcLdcdeCbc[U^bcb\eWbE][^Ze'bc_[`
NdcLdeOaeYTUT`MaeYTQaWd`d`eWT_Sac]dc^aSdIeXcXSbceYXWLXcb\[`
LacdU]d\dc^aSdeOae_KWeWbUb^[`[`eXWLb\cbU^bS[`[`eLa\a_cdcdPd`d
Nacd\]]d^Ze.ZAT`Wbe-bObU[eOae;dccde;TMbYaca4Wae_b][cY[P[^edCd`
Tc_a^d`e_RUXccb\[`[edWdeNdcdWR\YX^Ze@KWeV`S]d]Tca\d`d`e]a^acG
ca\dIeNa`d^eLK\TUca\d^eTQa\d`aeR]X\]Xc^XU]X\Z5
2kUim<`khhibm<jdcjYim<\Uidm `Yjai
@ojnhqiqi3
lllllllllllllllllllllllllllllllllllll
=J
B7Z V]_d`cd_ <bWcbUbc[^
Sr SYpWgepn<nUon<<rn`jqlokomnqkonqk[qkqnaplgmkplipnpip;kgnVpPgnf]mdkpmnUomqkiqYlqmrn=]mdkpmgnfgjgJgjgPep
_pjglkp_g\n_pjglkpmgjgPgnpmhpepYkpmgjgPkpn\p_kpYgjgPr
[l >ahkbmMfHjaimE\gdmcZIh`bhkgefefm^kXkbmYiKibimjWicibm9kkhi^jchjgifimfkaehmjcdihjbiXcig.
Tl >ahkbi^jc3ifmdkY`h\f_jfmaZfgkmE\gdm_jVhjchjgif_jmQkfSimjWicibmd`g`bhkgemkKehbeXceg.
Ll >ahkbi^jc3ifmdkY`h\f_jfmaZfgkmE\gdmcZIh`bhkgef_kmfkaehmYigmjWicibmkfhk^eXemYjfibajfbiXcig.
Gl >ahkbi^jc3ifmdkY`h\f_jfmaZfgkmE\gdhjgifmi_jkhmifakfmciIif_jmfkaehmYigm_jWiXibmSMg\hb\Xc\g.
@r Qfkpiq_ol6qjnhpVdk`NnX`mhkomqjnoWqlqinhdmdikpmgnUonoWqlqinpjkp_gYgjgnjpfgknolhqkoiqYn]kpVqkqm3n=]m9
[dkpip_gn_p\pVqkiohnq;qjnpYpWgephqnd_[dkpipnVpfpiphkpmgjgnqPko_qjqPr
v =gjgJgjgPepn`;n[mdVpnp_mgkgjgPr
v SYpWgepnUomqkojnh]jdnVpYkghkpmgjgnokonpkpmphnhojeqn[mdVdjdPepnlpmlgYgjgPr
v 4mdVdjdPepjnVqmnhqYq_qnfCPO`nfo;omohnokeonollqWqjqPnf]jd;kpmgnfgjgJgjgPephqnpmhpepYkpmgjgPkpn\p_9
kpYgjgPr
v !p_kpYgikpmnf]jdjepndkpYlgWgjgPnf]jd;kpmgnpYpWgephqnj]hlpkgn_omkomon_pPgjgPr
ZWqlqinSjkp_gYgnUonQeopknQjfpjnXq\q
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
ZWqlqinMdmdikpmg
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
ApYpin@q;qiqjqjnZlhqkomq
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
mllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
=B
0cC^aeOaeAaPa\ca`Yd\^a
M]jlm]knGqflofq
SYpWgepn:fipjkgneCjoiqjeohqnoWqlqikonqk[qkqnCjomiokomnUomqkiqYlqmrnK]Wmdn]kpjnCjomiokomnq;qj
Knf`ldjdjpNn_pjkgYn]kpjkpmnq;qjnqfonAnf`ldjdjpnnqYpmolqnh]_djdPr
2jomiokom K A
[l 8kQfFem8jbkfm<j_gjajhjgi]m@kf`fim8`hckfm8\hj^bkfmckgk9ef_kfmd`g`hb`Xc`gl
Tl 4abkfhem;jVhjci3f_jmbj_gjajmQZHkhkgefkmb\_jggiamk_emVjgihbjdcj^_il
Ll D`S\fd\mkfhkb_kmihdm\fiVjgaicj]m>ackfY`h3_kmkKehkfm;kg\h9\f`f_`gl
Gl 2jhjfjdajhm4abkfhemjWicibmaiacjbif_jmcjbjhm^Mfcjbhjg]m_jfj^mVjmSMUhjb_igl
Jl >hdMWgjcib]m77lm<kQb`cm_Mfjbif_jmUZg`fh`mQ)hjmSjcigihbj^jmKkheXehbeXcegl
Bl 7ahkQkcm,jgbkfem:[=JBNmihjm4abkfhemcZIh`b`f_kmAgbjfi]m?kQ`_i]m'`bmHjbkkchjgifif
Zd`hmkKbkmQkddem`h`ahkgkgkaemS\VjfHjmkhcefkmkhefbeXcegl
Cl <j_gjajmbjU`fhkge]m_jVhjcm^Mfjcibif_jmak_jHjmkadjg0mkhkfhkg_kmKkheXkYihig_il
=l >hdmbZ_jgfmkadjg0mZd`h]m<\Qjf_iaQkfjFimDkQgFim5\bk^`fm:;jfiUm<\Qjf_iaQkfjaiN_`gl
Pl <kkgi9mfkUege]mS\f\b\U_jdimdkgXeheWe^hkmbihh0mjWicibmYkdkfe_egl
[Rl 2jhjfjdajhm_Mfjb_jm_jVhjcif]mjWicibm\Ujgif_jm_ZWg`_kfmYigm_jfjcibim^Zdc`gl
[[m4abkfhem;jVhjci3f_jmihdmVjmZgckZWgjcibm_\Uj^hjgif_jmjWicibm_ihimOgkIKk_egl
[Tl 2jhjfjdajhm_Mfjb_jmihdMWgjcib]m_jVhjcmckgk9ef_kfmUZg`fh`mdehefbeXcegl
[Ll A_jYi^kcmVjmakfkcckmZh_`W`mSiYimjWicib_jm_jmDkcehehkXbkmKkYkhkge]mEkfUibkcm,jgbkfe
ihjmYkXhkgl
[Gl AWicibhjmihSihimc\bmQkgHkbkhkgmakgk^mQkUifjaif_jfm^kIeheg_el
[Jl -ZH`dhkgmaeY^kfmbjdcjYifjm!bifmOhk^emk_emVjgihjfmcMgjfmihjmYkXhkg_el
[Bl >hdmbj_gjaj]m@kf`fim8`hckfm8\hj^bkfmckgk9ef_kfm^kIcegehbeXcegl
[Cl <j_gjajmMWgjfHihjgifjm_kfiXbjfc]maZ9ckmSiYimiaibhjgmVjgihbiXcigl
[=l 2khkckakgk^m8`hckfiai]mQjdibm^jciXcigjfmYigmZd`hmZhkgkdmkKehbeXcegl
[Pl Dihifjfmihdm4abkfhemb\_jggiai]m;kV`_Fem@k^ajg03_igl
TRl Af_jg`fm<jdcjYi]m;ZhbkYkQKjm8kgk^emiKif_jmjWicibmVjgbiXcigl
T[l >Ici_kimbjdcjI]mihdZd`hmg\Xci^j]mZgckZd`hmi_k_i]mhiajmajVi^jaif_jmjWicibmVjgjfmd`g`b_`gl
TTl 4abkfhem;jVhjci3f_jmd`g`h`X`f_kfmiciYkgjfmDkcehem_jVhjchjgHjmZd`hhkgmkKehbk^kmYkXhkfF
beXcegl
TLl 8\hj^bkfi^jm<j_gjajhjgi]m@kf`fim8`hckfm8\hj^bkfm_Mfjbif_jmkKehbeXcegl
=C
SrnSYpWgephqnf]mdkpmgnOoUp\kp_gjgPr
Tr E\gdhjgifm>ahkbi^jc3imdkY`h\]mcZIh`b`fm^kXkbmYiKibif_jmQkfSim_jWiXibhjgjmfj_jfmZhb`Xc`g.mDkXhedhkg
Q)hif_jm^kUefeUl
Hr >ahkbi^jc3ifmdkY`h\]mE\gdmcZIh`b`f`fmjWicibmkfhk^eXef_kmQkfSim_jWiXidhidhjgjmfj_jfmZhb`Xc`g.m1gfjdF
hjgmVjgjgjdmHjVkIhk^efeUl
Dr E\gdF>ahkbm_jVhjchjgif_jm^jciXcigihbjdmiacjfjfmi_jkhmifakfmciIififmSjfjhmMUjhhidhjgimfjhjg_ig.
@rnSYpWgephqn;]hlpjnfo;iokqnf]mdkpmgnOoUp\kp_gjgPr
Tr 7lm8iacjbhi]m_\Ujfhi]mMgS\fm^\dajdMWgjcibmd`g`bhkgembj_gjajhjg_igl
77lm<jahjdimjWicibmVjgjfm^k^SefmjWicibmd`g`bhkgemkQimZHkdhkge_egl
777lm;if0]mckakVV`9imjWicibm^kIehkfm^jghjgmcjddjhjg_igl
7/lmD\gZdgkcm^jciXcigbjdmiKifmjWicibm^kIkfmd`g`bhkgmkckYj^hidhjg_igl
Adhpmgepn=ok;dhkdneCjoiqnoWqlqinhdmdikpmgnqkonqk[qkqnUomqkojnVqk[qkomeojnapj[qfqn_pjkgYlgm3
ONm?khfeUm7 DNm77mVjm777 6Nm77mVjm7/mmmmmmmmm ;Nm77]m777mVjm7/ ANm?khfeUm7/
HrnSYpWgepnMpmpapjkgneCjoiqnVqkqinpepignUone`Y`j`mkomq_kon]jkpmpnpqlnofomkomnoYkoYlqmqkiqYlqmr
0pj[qfqjeonaplpn_p\gkigYlgm3
ONm>Yfim8ifk AhF@kf`fm,i3cFEeY
DNm@kXSkghem<kQb`cmmm ;0V)f\m#\Skci3cFE\gd
6Nm,kgkYi 2kgiYf)bj
;NmDkhkakS`fh`m?`a`9 @`ck_S`mDihiS
ANmOQbjcm?jajVi ;0V)fFem5idbjc
DrnSYpWgephqkomeojnapj[qfqn:fipjkgnKoUkolq6jeonoWqlqieon_ojqkoYio_qnP]mdjkdnhgkpjnjoeojkom
pmpfgjepn[CflomqkoioP3
ONm8kVkXhkg_kmYkXkgeaeUmaZf`Khkgmkhefbkae
DNmDihibifm\gjcihjbi^ZgmZhbkae
6Nm4d`g^kUkgmZgkfefefm_\X\dmZhbkae
;Nm<jgdjU0m^kIefefmYZU`dmZhbkae
ANmDihibmVjmcjdfZhZimkhkfef_kdimSjhiXbjhjg_jfm`Ukdmdkhefbkae
?rnSYpWgephqkomeojnapj[qfqn:fipjkgneCjoiqjeonioemofokomqjnV]PdkipnjoeojkomqjeojnVqmq
eoWqkeqm3
ONm1WgjcibmjhjbkfhkgefefmajKibif_jm^kXkfkfmk_khjcaiUhid
DNm;\f^k_kdimSjhiXbjhjgifmckdiImj_ihjbjbjai
6Nm1WgjfHimajKibm`a`h\f\fmYZU`hbkae
;NmDkYk_kfmZW`hkmSjKjfmkhibhidmaiacjbififm:YjXidm`hjbkheWeNmZgck^kmKedbkae
ANmDkce3_kfmMWgjcibmjhjbkfhkgefefmSjcigihbjai
7rnSYpWgephqkomeojnapj[qfqn:fipjkgnKoUkolq6jqjnAojqkoYionKCjoiqjeonp;gkpjn]hdkkpmepjnVqmq
eoWqkeqm3
ONm>Ufidm<j_gjajai
DNm<\Qjf_iaQkfjFimDjggFim5\bk^`f
6Nm<\Qjf_iaQkfjFimDkQgFim5\bk^`f
;Nm2khkckakgk^m8`hckfiai
ANm;kg\hb`khhibif
==
/rnSYpWgephqnO`ikokomeonV]YnVgmphgkpjn_omkomqnhdldOdhkpmephqnd_[djnhokqiokomkone]kedmdjdPr
Tr 8jhK`dh`m_Mfjbif_jmXjQUk_jhjgifmjWicibif_jfmaZg`bh`mZhkgkdmSMgjVhjf_igihjfmdiXihjgjmzzzlllllllzz
k_emVjgihbiXcigl
Hr 4abkfhe3fefmSjhjfjdajhm_Mfjbif_jmihdZd`hmajVi^jaif_jmjWicibmVjgihjfm^jghjgzzzzzzzzzzzz
zzzzzlmZhkgkdmk_hkf_egehbeXcegl
Dlm4abkfhem_Mfjbif_jm_jVhjcmk_kbemVjmY\gZdgkcm^jciXcigbjdmiKifmd`g`hkfmjWicibmd`g`b`
zzzzzzzzzzzmZhkgkdmk_hkf_egehbeXcegl
?r 4abkfhem;jVhjci3fifm@`g`h`Xm;Mfjbif_jmbjahjdimjWicibmVjm_k^kfeXbkmkbkKhemd`g`hkfmcjXdihkcmllllllllllllllllll
Zhkgkdmk_hkf_egehbeXcegl
7r 4abkfhem_Mfjbif_jmlllllllllllllllllllllllllllllllllllllllm_if0mjWicibmVjgjfm^k^SefmjWicibmd`g`bhkgemkgkaef_kmY`h`fF
bkdck_egl
8r ,kciQm8`hckfm<jQbjcmckgk9ef_kfmd`g`hkfm^\dajdMWgjcibmd`g`b`mzzzzzzzzzzzzzzzz
Zhkgkdmk_hkf_egehbeXcegl
1r ?jfihjXbjm ;Mfjbif_jm d`g`hkfm Vjm Y`S\fd\m hiajhjgm ajVi^jaif_jm jWicibm Vjgjfm jWicibm d`g`bhkgefk
llllllllllllllllllllllmk_emVjgihbiXciglm
+rnSYpWgephqnO`ikokomqjnVpYgjpn_pm[gkpmne]Wmdnqfont6K66Nn_pjkgYnqfont6A66n_pPgjgPr
:mmmmNmE\gdF>ahkbm_jVhjchjgif_jdimihdmaiacjbhimbj_gjajm*iUkbi^jm<j_gjajai_igl
:mmmmNm,edgkhkge^hkmS\h_\g\gdjfm_\X\f_\gjf]mcZIh`bkmjWiciHim_jgahjgmVjgjfmE\gdm_\X\f\g\m,kgkYi3_igl
:mmmmNmE`YkmOWkHem*kUkgi^jai]m4abkfhem_\X\f\ghjgif_jfmAbg`hhkQmA9jf_i3^jmkiccigl
:mmmmNm4abkfhem_\X\f\ghjgif_jfmi^km2MdkhI3kmSMgj]mjWicibifmcjbjhimjVgjfajhm_jWjghjg_igl
:mmmmNm>Yfim8ifk]mceImjWicibmVjmYihibifjmjVgjfajhmYZ^`cckmdkcde_kmY`h`fb`XmYigmYihibmk_kbe_egl
=P
Q X Z
Drn ,F
/.L0.BQAZXnK2FZLQFKZ
Z&QXQL
M]jdkpm
SrnLqkk'nL`OpeokonKCjoiqjeonZWqlqi
@rn/diadmq_olnKCjoiqnZWqlqiqjqj
Xoiokn2Pokkqhkomq
/rnSlpl`mh6`jnZWqlqikonQk[qkqn4Cm`Ykomq
+rn/diadmq_olnKCjoiqjeonZWqlqieo
4okqYiokom
KrnX`mhq_o6eon2WmoliojnAolqYlqmiojqj
4okqYqiq
ZrnZWqlqionMplhgepn@dkdjpj
K`Y`j`mkom
S
LQGGnL,/SKZGZnK2FZLQFKZnZ&QXQL
Hazrlanalm
[lm<ihh0m<\Hk_jhjm;MfjbifjmihiXdifmfjhjgmaM^hj^jYihigaifiU.
Tlm2kUim<`ack9km@jbkhm"kXk]mkXkWe_kdimaMU\f_jmSjgKjdmd`gc`h`X`fmjWicib_jf
SjKciWifimaM^hjgdjfmfj^imV`gS`hkbkdmiacjbiXmZhkYihig.
V`eK`a^cdeOaeOa\d^cdeLK\aOd^dQIeaPd]d^edUca\dYd\ZeVPd]d^edUca\d`Yae^X]cb_beNbUb\[c[eRc^b_eLa\a_d\ZeFd\e^dcca]d`
La\Ca_e_X\]XcXUXeb`Mb_eNXeUa_dcYaeRcX\Ze
;XS]b>be@a^bce=]b]T\_
kckblSZVlcg
JZeV]_d`cd_ D`MacaWacd^
SYpWgepnhpmgYghn]kpmphnUomqkojnVqk[qkomqNnj]hlpkgn_omkomonmphpikpmn_pPg\nhm]j]k]%qhn]kpmphnfgmpkp_g9
jgPrn=gmpkpip_gn[CPnCj`jeonVdkdjedmpmphnX`mhnqjhgkpVgjgjnlpmqa'nloiokkomqnUon[okqYqinf`moOqnaphhgjep
;ghpmgikpmepnVdkdjdjdPr
ci]mlm^\UF dib
4abkfhem ;jVhj jVhjci]mLRmA F < ihh 0m < \H k_
jh j3 fi fm jf
akVkXhkgm aZF 4abkfhem; cj X
^eh_km ^kIceWem <Zf_gZ a m O ^Z W` fm _M fj
b hj gif _j ]
]maZa^kh]m jdZF [P[=3_jm UkF
f`f_km ai^kai Xb k a e3 f em ib jW ici b hj mih Si him
aZ g` fh kg k
Ke hkg_ kf mVjm jWicib djamOfchk KMU\bmY`hbkd
fZbidmk miKifmKjXichi
^e 9hk_el hk_el
Ykdebef_kfmUk cZIhkfcehkgm^kI
eh_el
8iIjg_jm<jdc`Im4d`^kfmOadjghjg]m5lm4fkc <ihh0m<\Hk_jhj3_jmE\gdm@k_efhkge]mOckc\gdmVjm@`gc`h`Xm8kVkXem<\Ujai
P[
TrnZWqlqiqjn4ojoknKdmdid
BZeV]_d`cd_ <bWcbUbc[^
SYpWgepnLqkk'nL`OpeokonKCjoiqjeonoWqlqiqjn[ojoknedmdidjdnpjkplpjnqhqniolqjnUomqkiqYlqmNnqjOoko9
_qjqPrnL]jem]f SloYhofnSjlkpYipfg6jepjnf]jmpn_dmedjnqY[pknoeqkeqWqjqnUonSjpe]kd6epnVpWgifgPkgh
i`OpeokofqnUomqkeqWqjqn[CPnCj`jeonVdkdjedmpmphnVdneCjoiqjnoWqlqiqjqjnjqloknUonjqOoknedmdidnaph9
hgjepn;ghpmgikpmepnVdkdjdjdPrn+ghpmgikpmgjgPgnfgjgJgjgPephqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
<`QkgjYjm?ehhkge
4fmYjXm^kXef_k^_eblm8efe9ebeU_kmZfmidimMWgjfHimVkg_elmOgdk_kXhkgebeUem7lm;\f^km8kVkXe3fefmaZfm^ehhkgef_kmkadjg
j_iImSMc\g_\dhjgimiKifmaefe9ebeUmcjfQkhkXbeXcelm4mUkbkfmZfmajdiUifjmSigjfhjgjm^kXhem_i^Zg_`dl
Ahjdcgidm^Zdc`]mIjcgZhmhkbYkhkge^hkmk^_efhkfe^Zg_`dlm2jHjmjc\chjgif_j]mYk^kWemcjfjdj_jfm^kIehbeX]mQk9i9mYigmHeUegce
ihjm^kfkfmdkf_ihifmeXeWef_km_jgamKkheXe^Zg_`dl
[Bm<kgcm[PTR3_jm>ackfY`hmiXSkhmj_ihifHjmZd`hmYifkaefefmYigmYMh\b\mkadjgmQkackfjaim^kIeh_elm4m^ehmaefkVhkgm[Jm*iakf_k
Yicigih_il
<ihh0m<\Hk_jhj3_jmAWicib
1WgjcbjfmZd`h`mkKbkm9kkhi^jchjgi
<ihh0m <\Hk_jhjm ^ehhkgef_km djaifci^j
`Wgkbk_elm8kVkXefmjfm^ZW`fm^kXkfF
_eWem[PTTm^ehef_kmYihjmbkQkhh0mi_kgjF
hjgHjmMWgjcbjfmZd`hhkgemkKeh_elm<ihh0
<\Hk_jhjm^ehhkge]mjWicibmaj9jgYjghiWiF
fifmjfmS\UjhmMgfjdhjgifjmakQfjmZh_`l
8kVkXm^ehhkgefefmjfmY\^\dmjWicib
aZg`fhkgef_kfm Yigim _jm ihdZd`hm MWgjcF
bjfhjgifjm bkkXm Vjgihjbjbjai^_il
Digm^eh_kfm9kUhk]mbkkXm^\U\mSMgjbjF
^jfmMWgjcbjfhjgmZhb`Xc`l
4abkfhe3fefmaZfm_Mfjbhjgif_jmDkcehemckgU_km^kIehkfm^jfihidhjg]mQjgmkhkf_kmZh_`W`mSiYimjWicibmkhkfef_km_k
YigmidihiWimZgck^kmKedkgbeXceglmDigm^kf_kfmjadi^imdZg`bkdmiacj^jf]m_iWjgm^kf_kfm^jfi^im^jghjXcigbjdmVjmIjdiXcigF
bjdmiacj^jfmZd`hhkgefmVkgheWe]m_kQkaemkUefhedmZd`hhkgemVjm^kYkfHembia^ZfjgmZd`hhkgefefmjWicibmVjmMWgjcibmKkF
heXbkhkge]m 4abkfhem cZIh`b`f`m Zh`Xc`gkfm djaibhjgim dkgXem dkgXe^km SjcigbiXciglm 4abkfhem _jVhjcm ^MfjciHihjgi
ckgk9ef_kf]mY`mKZdmYkXheheWkmVjmdkZakmaZfmVjgbjdmiKifmKkheXbkhkgm^kIehbeXakm_kmY`fhkgmYkXkgehemZhkbkbeXcegl
4abkfhe3_kdimjWicibmaZg`fhkge]m<ihh0m<\Hk_jhjm;Mfjbif_jm_jm_jVkbmjcbiXciglmD`m_Mfjb_jmjWicibmiXhjgimidi
bjgdjU_jfm^\g\c\hb\Xc\glm>ackfY`hm5\dbjci3fjmYkWhemZhkfm<kkgi9m*jUkgjcim:AWicibmDkdkfheWeNm>ackfY`h3_k
jWicibmiXhjgifim^\g\c\gdjfmED<<m5\dbjci3fjmYkWhemZhkfm<kkgi9m/jd)hjcim:AWicibmDkdkfheWeN]mOfk_Zh`3_kmjWicib
iXhjgifjm^MfmVjgbiXciglm>XSkhHim_jVhjchjgmiajmY`h`f_`dhkgemYMhSj_jdimZd`hhkg_kmai^kaim_\X\fHjhjgifim^k^bk^k
^MfjhidmKkheXbkhkgm^kIbeXhkg_egl
[PTTm^ehef_kmakhckfkcefmdkh_egehbkaemihjmYighidcjm>ackfY`hm5\dbjcimVjmZfkmYkWhemZhkfm<kkgi9m*jUkgjcifif
SMgjVi aZfkmjgbiX]mjWicibmd`g`bhkge]mOfdkgk3_kmY`h`fkfm<kkgi9m/jd)hjcifjmYkWhkfbeXcegl
PT
HrnLqkk'nZWqlqikonQk[qkqn0pPgmkghn+pkgYipkpmg
9ZeV]_d`cd_ D`MacaWacd^
SYpWgepnLqkk'nL`OpeokonKCjoiqjeonoWqlqi9CWmolqinpkpjgjepn_p\gkpjn;pkgYipkpmNn]kdYnfgmpfgjp
[CmonUomqkiqYlqmrn@dn;pkgYipkpmgnqjOoko_omohneCjoiqjnoWqlqinJppkq_olkomqnaphhgjepnVqk[qnoeqjqjqPr
Lm<k^eam[PTRm<kkgi9m/jd)hjcim:AWicibmDkF
TIHE
TJm<kgcm[PT[mEjhi9mVjmEjgH\bjm5j^jcimd`F Ejhi9mVjmEjgH\bjm5j^jci]mSMf_jgihjfmjajghjgimifF
g`h_`l Hjhj^jgjdmVjgihjHjdmM_\h\fmbidckgefemYjhighi^Zg_`l
TIHT
[JmEjbb`Um[PT[m<kkgi9m:AWicibNm@ZfSgjai m1WgjcbjfhjgmVjm`UbkfmdiXihjgifmSMg\XhjgimkhefkF
cZIhkf_el gkdm jWicibFMWgjcibm dZf`hkgefefm SMg\X\h_\W\m ihd
cZIhkfce_eglm<ihh0mjWicibmXgkhkgefefmcjbjhimZhkgkd
dkY`hmj_ihjYihigl
m>fkam:@eUNm;kg\h9\f`f`]m[PTT3_jm;kg\hb`khhibkcFe
Ohi^j_jfmk^geheIm;kg\h9\f`fkmYkWhkf_elm;jgahjgifi
[PT[F[PTTm1Wgjcibm?ehem;kg\h9\f`f_k
^ifjmjgdjdhjg_jfmk^gemZhkgkdmYkXdkmakkchjg_jm^kF
dkgbkmjWicibjmSjKih_il IkHkdcelm,kdkc]m9jfmVjmj_jYi^kcmX`Yjhjgif_jdimdeU
MWgjfHihjg]mdjf_imaefe9hkgefemYZ^dZcmj_iImjgdjdmMWF
gjfHihjgifmaefe9efkmSicbiXhjgmVjm>fkam;kg\h9\f`f`
TIHH
A^h\hm[PT[3_jmckgiQjmdkgeXbeXcegl
:Od^\U]malmLP=lN
[PTTm<kkgi9m*jUkgjcififmc\bmMgS\chjgim<kkF
m[PTTm^ehef_kmjWicibmd`g`bhkgefefmKZW`mdjf_imiaF
gi9m/jd)hjcifjmYkWhkf_el cjWi^hj]mOfdkgk3_kmY`h`fkfm<kkgi9m/jd)hjcifjmYkWF
hkf_elm8khckfkcefmdkh_egehbkae^hkm4abkfhem;jVhjci
aZfkmjgifHjm>ackfY`hm5\dbjci3fjmYkWhemc\bmd`F
g`bhkgmk^femYkdkfheWkm_jVgj_ih_il
[JmEjbb`Um[PTLm7lm5j^jcFim>hbi^jm:Dihib
TIHD
<jVH`cmjWicibmaZg`fhkgefemYjhighjbjdmVjmY`fhkgk
@`g`h`NmEZIhkfceaem^kIeh_el KMU\bm^ZhhkgemSjhiXcigbjdm\UjgjmcZIhkf_el
2jn+pkgYipb:hdknKgYgcn[CLPmak^ehem<ihh0mAWicibmEjbjhm@kf`f`3f`mifHjhj^jhibm:P=lmak^9k_kdimLlmjcF
difhidmiKifNl
PL
LppmqJnM]j[mofq
8ZeV]_d`cd_ ATUT`acd^
4pPqnLdflpJpnMoipkn!pYpn_dhpmgephqnlohkqJonjonOoUp\nUomiqYn]kpVqkqm3nFq;qj3
2kUim<`ack9km@jbkhm"kXk]m@`gc`h`Xm8kVkXe3fefmjfm^ZW`fmZh_`W`mS\fhjg_j]mYigm^kf_kfmYkWebaeUhedmmb\F
Hk_jhjaififmhi_jghiWifim^kIkgdjfmYigm^kf_kfm_kmjWicibmkhkfef_kdimKkheXbkhkgefkmYkXhkbeXceglmE\gdmjWicibmaiaF
cjbififmZh`Xc`g`hbkaef_kmVjmSjhiXcigihbjaif_j]maMUmdZf`a`mKkheXbkhkgefm\g\f\mZhkfm<kkgi9m@ZfSgjaimVjm5j^jcFi
>hbi^jmcZIhkfcehkgefefmKZdmY\^\dmdkcdehkgemZhb`Xc`glm[JFT[mEjbb`Um[PT[mckgiQhjgimkgkaef_km<kkgi9m@ZfSgjai3f_j
khefkfmdkgkghkg]mZmS\f\fmjWicibmiQci^kHefemdkgXehkbkdckfmKZd]mSjhjHjdcjdimckbmYkWebaeUmVjmKkW_kXm`^SkgheWe
^kdkhkbeXmE\gdi^j3^imS\Khjf_igbj^imkbkKhkbeXceglmOfdkgk3_kmSjgKjdhjXcigihjfmY`mcZIhkfce^k]m^`g_`fmiXSkhmkhF
cef_kmZhbk^kfmihhjgif_jfmIjdmKZdmdk_efmVjmjgdjdmMWgjcbjfmdkcehbeXceglm@ZfSgjfifmkKeheXmdZf`Xbkaefem<`ack9k
@jbkhm"kXkm^kIbeXcegl
7ZeV]_d`cd_ <bWcbUbc[^
SYpWgepNn4pPqnLdflpJpnMoipkn!pYp6jgjnLppmqJnM]j[mofq6jqnp;gYnh]jdYipfgjepjnVqmnhofqlnUomqkiqY9
lqmNnqjOoko_qjqPrn@dnh]jdYipepn4pPqNnCWmoliojkomoNn_ojqnjofqkkomqjn_olqYlqmqkiofqjeonapj[qnofpfkpmp
eqhhplnoliokomqjqnlpUfq_onoliqYlqm3nXof\qlkomqjqPqnfgjgJgjgPephqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
Ee[g^*!f\T!g\
U[c!O!h\NMche!!@NT^ f!AhXhb!chehg!_hh9^ f!
b![d!!g bV!fdeY_c!fh ga
-fgehgdcgcc!^ feY! f!!f f]! W[^!g!Y!f h!bg^
!!X!gefaL!!Z!fM eVb[f!g!dY]gh!dhg_!dZfdV!_e `
Y]hf]WZg`hdbfe!e!Xgc`c!Xg!\gb^g!_ g![! hg!
c c!ce]h\fM_ WMhh f]e!hc cg!dY]gebfa<c!hcfMgWf]! f
bh[`hb eZhfd!XhYehc cd^!aC`[c]]!Xhe!X
hc c`fgehg]!!e!Xhc c!ehXdb!Z! h ac cR*Qd heeS
]f!e[!gaL]f!ReSf !hh ga
` ]\hb![f]g!dgXZ]f`dhebg!eccf!!`hWhh!ggc`c!Xhb!`
fhg^\hdYeg^f` `e!e!d! _XebVf [Yd fh_bebg
e!!decc fhZ!Wbfh[h dW]f heb]aNT5hQ !!Wh !f`\
Z_e_ffh g^!gf`\Y^ f!_]f!g!b`!f_hc chb![d!O!
hg bVfegc`c!fc`bfd_[c!hc]b` ^f![`f!g`d!cech
^!!fa
fa[b_a
PG
Lqkk'nL`OpeokonKCjoiqjeonZWqlqinSkpjgjepnAp\gkpjnX]\kpjlgkpm
3ZeV]_d`cd_ D`MacaWacd^
SYpWgepnoWqlqikonqk[qkqnf]mdjkpmgjn[Cm`Y`ke`W`nUonCjoikqnhpmpmkpmgjnpkgjegWgnl]\kpjlgkpmepjnLppmqJ
M]j[mofqnUon<rn0o_ol9qnQkiq_onqkonqk[qkqnVqk[qkomnUomqkiqYlqmrnLqkk'nL`OpeokonKCjoiqjeon_p\gkpjnVdnl]\9
kpjlgkpmepnpkgjpjnhpmpmkpmgnqjOoko_omohnVdjkpmgjnX`mhniqkk'noWqlqinfqfloiqnq;qjnCjoiqjqnpjkplpjnVqmn\p9
mp[mpJn_pPgjgPr
X]\kpjlgjgjnpegcn<kkgi9m@ZfSgjai X]\kpjlgjgjnpegcn7lm5j^jcFim>hbi^j
X]\kpjlgjgjnlpmqaqcn[JFT[mEjbb`Um[PT[ X]\kpjlgjgjnlpmqaqcn[JmEjbb`Um[PTL
X]\kpjlgepnpkgjpjnVpPgnhpmpmkpmc X]\kpjlgepnpkgjpjnVpPgnhpmpmkpmc
m-ZH`dhkgemQk^kcckmYkXkgehemdehkHkdmdkYihi^jccjm^jF m>hdMWgjcibmkhcem^ehkmKedkgehbkhe_egl
ciXcigbjdmiKifmYigmIgZSgkbmQkUeghkfbkaefkmiQci^kK
_`^`hbkdck_egl m 1WgjfHim ak^ehkgem ihdZd`hm [m Vjm Tlm aefe9hkg_k
LR3`]m_iWjgmaefe9hkg_kmGR3emkXbkbkhe_egl
m;MgcmajfjmZhkfmihdMWgjcibifmYjXm^ehkmKedkgehbkae
Sjgjdbjdcj_igl mZg`fh`mjWicibm^kXef_kdimKZH`dhkg]m^kYkfHe
Zd`hhkgefkmSMf_jgihbjbjhi_igl
m4mUkbkfkmdk_kgm`^S`hkfkfmihdMWgjcibmIgZSgkbF
hkgem`^S`hkbk^kmb\akicm_jWih_igl m@\K\dmdM^hjgmiKifm^kcehemYMhSjmihdZd`hhkgemkKehF
bkhe_egl
m5khdmjWicibimiKif]m^\dajdmIgZSgkbhkgm^jgifjmZfhkg
iKifmSjgjdhimZhkfmm_ih]m_ifmVjmQjakIm_jgahjgimZd`c`hF m8`hckfimk_emhiaj^jmKjVgihbjhi_igl
bkhe_egl
m@M^mVjmdjfchjgifmiQci^kKhkgefefm9kgdhemZhbkaemfjF Sjhpmp6epnVqmnao_ol9qnqkiq_onloYhqkn]kdjd_]m
_jfi^hjmihdZd`hmIgZSgkbhkgemmk^gemk^gemQkUeghkfbkF [JmEjbb`U3_kmOfdkgk3_k]m<kkgi9mEjXdihkcemQkddef_k
he_egl b\UkdjgkcckmY`h`fbkdm\Ujgj]mb\cjQkaaeahkg_kfmb\F
gjddjImYigmQj^jcFimihbi^jmkd_FimiHcibkmj_jHjdcigl
m<jahjdm_jgahjgififmihdZd`hhkg_kmY\c\f\^hjmMWgjF Cc!cfc]chZde0
cihbjaimb\bd\fm_jWih_igl Sjhpmp6epnVqmnVqkqinhdmdkdn]kdYldmdkd_]m
[JmEjbb`U3_kmOfdkgk3_k]m<ihh0mAWicibmEjXdihkcemQkdF
m8kfkcmVjmYigmiXmj_ifbjdmiKifm^jcjfjdhjgifmjaka def_kmSMg\Xbjhjg_jmY`h`fbkdm\Ujgj]m`Ubkfhkg_kf
Zh_`W`mdeUmZd`hhkgef_kmdeUhkgefmjVmdk_efemZhkYihF Zh`XkfmYigmYihibmd`g`h`mcZIhkfkHkdcegl
bjhjgimiKifmSjgjdhimZhkfmIgkcidmYihSihjgifmVjgihbjai
Sjgjdbjdcj_igl :Dkaef_kf]mEjbb`Um[PTLlN
PJ
4pPqnLdflpJpnMoipkn!pYpnUonKCjoiqjnLppmqJn$ohqkkomqjqjnZWqlqikonQk[qkqn4Cm`Ykomq
/ZeV]_d`cd_ <bWcbUbc[^
SYpWgepNn4pPqnLdflpJpnMoipkn!pYpnqkonLqkk'nL`OpeokonKCjoiqjeoniqkk'noWqlqinVphpjkgWgn_p\igY
hqYqkomqjnoWqlqinqkonqk[qkqnVpPgn[Cm`Ykomqnipeeokomna#kqjeonUomqkiqYlqmrnLqkk'noWqlqiqiqPqjn[Cm`Y`ke`W`
Vqmnl]\kpjlgepnVdnhqYqkomkonVqmkqhlon]kedWdjdPdne`Y`jomohnoWqlqinf]mdjkpmgjpnUonVdjkpmgjn;CP`in_]k9
kpmgjpnpqln[Cm`Ykomqnlof\qlnoeqjqPrnXof\qlkomqjqPqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
?jciXjHjdmKZH`dhkgebeUkmVjmSjfKhjgibiUj]mSMgjHjdhjgimjWicibifmaefegemfjmZh`gakmZha`f]mjf
MfHjmVjmQjgmXj^_jfmMfHjmE\gdi^j3fifmYkWebaeUheWemiKifmdjf_imYjfhiWifjmVjmbihh0mSjhjfjdhjgibiUjm_\Xbkf
ZhkfmY\c\fm`fa`ghkghkmb\Hk_jhjmjcbjdmSjgjWimMWgjcihbjhi_igl
"gkcidmVjmQjgmdZf`^`mdkIak^kfmYigmjWicibmiKifmVkckfmaefeghkgemiKif_jmMfjbhimbjgdjUhjg_j
bZ_jgfmd\c\IQkfjhjg]mYicdimVjmQk^VkfkcmYkQKjhjgi]mdZfajgVkc`Vkghkg]mkcMh^jhjg]mb\UjhjgmVjmS\UjhmakF
fkchkgmajgSihjgimd`g`hbkae]mY\c\fmbjbhjdjcifmYkaebjVhjgi^hjm_ZfkcehbkaemSjgjdbjdcj_iglm
AWicibmVjmMWgjcib_jm`^S`hkfkHkdm^Mfcjb]mYihSi^imifakfmiKifmYigma\a]mYigmQ\dbjcbjmkgkHe
Vj^kmbj_jfimYigmUjVdmZhbkdckfmKedkgeImbk__imQk^kcckmYkXkgehemZhbk^emakWhk^kfmIgkcidmVjmd`hhkfehkYihig
YigmkgkKmQ)hifjmSjcigbjdcigl
2kUim<`ack9km@jbkhm"kXk
DjfibmifkfHebkmSMgj]mYigmbjbhjdjcimQjgmXj^_jfmjVVjhmd\hc\gh\mdk9khkgmd`gckgeg]m_igihcig]m^kF
XkcegmVjmZfhkgem_kmZd`hhkgm^jciXcigigl
<jbhjdjcim^jfi_jfmHkfhkf_egkHkdmVjmY`mbihhjcimd`gckgkHkdmZhkf]mQjgmXj^_jfmjVVjhmjWicib_iglm
AWicibmaiacjbibiUmQkgkImYigmQ)h_j_iglllm
;glm'eUkm*`g
DiUhjg]mOfk_Zh`3f`fmY\c\fmY\^\dmbjgdjUhjgifim9idigmVjmakfkcmbjgdjUhjgimQ)hifjmSjcigjHjWiUl
4d`h]mMWgjfHihjgifmjWicibm^jgi_iglm
%Ujgif_jmdZf`XbkbeUmSjgjdjfmkaehmkhkf]mjWicibmai^kajcifjmVjgjHjWibiUm^Mf_\gl
4d`hhkgebeUmfj_jfmSjgjdhimZhkfm^kgkghkgemakWhkbkbkdck_eg.m-\fd\mY`fhkg]mfkUkgimk_kbhkg
^jciXcigi^ZgmiXmk_kbe]makfkcKem^jciXcigbi^Zgl
5kb_`hhkQm8`IQi
5jgmc\gh\m^kYkfHemcjaig_jfm`UkdmYigmXjdih_j]m_if0mVjmbihh0mjakahkgebeUmKjgKjVjaif_jmbihh0
d\hc\g\b\U\fmSjhiXbjmVjm^\HjhbjaifimakWhkbkdmihdjai]mKkheXbkhkgebefmcjbjhi_igl
DkWebaeUheWebeU]maihkQhkgebeUmdk_kg]md\hc\gmVjmbj_jfi^jcibiUjm_jm^kahkfbkhe_egl
<jQbjcm/jQYi
Dihi^Zga`f`UmdimihdMWgjcibibiUmKZdmSjgimdkhbeXceglmD`f`fmfj_jfhjgimkgkaef_kmjfmd`VVjchiai]
Ikgkmbjajhjai_igl
@M^hjgibiUif]mdkakYkhkgebeUefm^\U_jm_Zdakfef_kmQjf\UmZd`hmkKehbkbeXcegmVjmbjVH`cmZd`hF
hkgebeUm_k]micigk9mjcbjhi_igmdimYigmMWgjcbjf_jmY`h`fbkaemSjgjdjfmficjhidhjgimckXebk^kf]mdeabjfm^jcjgaiU
Zhkfmifakfhkgefmjhif_jmdkhbeXcegl
>abkihm8k9k
PB
@
/.L0.BQAZXnK2FZLQFKZnZ&QXQLQFnXZLZGn2 ZGGQMGZBQ
Hazrlanalm
[lmOihjmY\^\dhjgifiUhjm:_j_j]mfifjNmSMg\XjgjdmZfhkgefmZd`hmkfehkgefemMWgjfifiUl
Tlm6`bQ`gi^jcm;MfjbimjWicibifjmihiXdifmkdhefeUkmSjhjfmihdmdkVgkbhkgmfjhjg_ig.
JZeV]_d`cd_ HbQbc[^
ZWqlqiqjnloioknqkhokomqNnX`mhq_on/diadmq_olqnKoUkolq6jqjnep_pjegWgnofpfkpmpnd_[djn]kpmphnVokqmkoj9
iqYlqmrnSYpWgepnVpPgkpmgnUomqkojnVdnqkhokomeojnohfqhn]kpjkpmgnj]hlpkgn_omkomon_pPgjgPr
1Wgjcib
DighiWififm8kWhkfbkae
lllllllllllllllllllllllll llllllllllllllllllllllllllllllll
Av>E><>*mEA<A#m>#@A#A'>
AWicibifm#kidm4hbkae AWicibifm-kW_kXm4hbkae
llllllllllllllllllllllllllllll
2jfKmE\gdi^jm6`bQ`gi^jcim;jVhjci3f_jm^jfimfjahifmjadim_MfjbifmjWicibmkfhk^eXhkgefkmSMgjm^jciXcigihbjai
b\bd\fmZhkbkU_elmD`mfj_jfhjm2kUim<`ack9km@jbkhm"kXkmVjmKkheXbkmkgdk_kXhkge]mMfHjhidhjm^jfimfjahim^jF
ciXcigjHjdmjWicibifmcjbjhmihdjhjgifimYjhighj_ihjglmOdhkmVjmYihibjm_k^khemZhkfmY`mihdjhjg]mcZIh`b`fmKkWefmXkgchkgefk
SMgjmSjhiXcigihbjaifimQj_j9hjbjdcj_iglmAWicibifmcjbjhmihdjhjgimYigYigif_jfmYkWebaeUm_jWih_igmVjmQjgmYigmihdjmYig
_iWjgififmckbkbhk^eHeae_egl
BZeV]_d`cd_ HbQbc[^
/diadmq_olnKCjoiqnoWqlqiqjqjnloioknpip;nUonjqlokqWqjqnh]jdnpkpjnUonq;qjeonpYpWgephqnhpUmpikpmgj
[o;lqWqnhgfpnVqmniolqjn_pPgjgPr
@kVgkbhkg Lqkk' Mpmip +pWepY Gpqh Koi]hmplqh Slpl`mh :hdk ZWqlqi @qmkqh
PC
9ZeV]_d`cd_ @b\U[cbU][\bc[^
T1DInfp_gkgnLqkk'nZWqlqinXoioknMpjdjd6jdnqjOoko_omohnUonCjOohqnVqk[qkomqjqPeojn_pmpmkpjpmphn/di9
admq_olnKCjoiqnoWqlqiqjqjnloioknCPokkqhkomq_konqk[qkqnf`ldjephqnj]hlpkgn_omkomqne]kedmdjdPr
:fipjkgnUon/diadmq_olneCjoikomqnoWqlqinpjkp_gYnUond_[dkpipkpmgjgnhpmYgkpYlgmegWgjgPepnVojPom9
kqhkomnUonJpmhkgkghkpmnaphhgjepnjokomnfC_ko_oVqkqmfqjqP3
:fipjkgnKCjoiqjeonZWqlqiqjnXoiok /diadmq_olnKCjoiqjeonZWqlqiqj
2Pokkqhkomq Xoiokn2Pokkqhkomq
x AWicib]m 9kgdhem d`g`bhkgm : jgi^jm Vjm A9dk9 x AWicibmcjdmjh_jfm^Mfjcihbjdcj_igl
/jd)hjci]m <kkgi9m *jUkgjcilllNm ckgk9ef_kf
i_kgjmj_ihbjdcj_igl
8i^kaiF,jhaj9imOKe_kf
xm$h`akhmYigmjWicibmaiacjbimd`g`hkbkbeXcegl xm$h`akhmYigmjWicibmaiacjbimVkg_egl
xm%bbjcKimjWicibmkfhk^eXemZh_`W`f_kfmjWiF x llllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
cibm_ifjm_k^khe_egl lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
xmAWicibmd`g`bhkgem_kQkmKZdmbjgdjU0mYMhSjF x llllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
hjg_jmSjhiXbiXcigl lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
xm ;jVhjcifm _jfjcibif_jfm `Ukd]m kUefhedm Vj xmlllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
^kYkfHemZd`hhkgemVkg_egl lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
xmEZIh`b_kmZd`g^kUkghedmZgkfem_\X\dc\gl xmAWicibmkhkfef_kmifdehkIhkgm^kIehkgkdmZd`gF
8Za^khmOKe_kf
^kUkgmZgkfemkgccegehbeXcegl
xm @eUmMWgjfHihjg]mEkfUibkc3kmdk_kgmZgckmVj x llllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
^\dajdMWgjfib_jfm^kgkghkfkbkbeXcegl lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
xm@eUmVjmjgdjdmMWgjfHihjgmk^gemZd`hhkg_kmZd`F x llllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
c`hbkdck_egl lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
xm <Z_jgfm^MfcjbmVjmcjdfidhjgmd`hhkfehbkF
?MfcjbmVjmEjdfidhjgmOKeaef_kf
x llllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
bkdck_egl
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
xm AWicibmMWgjcbjfmbjgdjUhi]mfkdihHimVjmjUF
x llllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
Yjgjm_k^khe_egl
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
xmAWicib_jmaZgS`hkbkmVjmjhjXcigim^Zdc`g]mMWF
x llllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
gjfHimdkcehebem^Zdm_jfjHjdmdk_kgmkU_egl
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
xm1WgjfHim_iaiIhifif_jmdkcemd`gkhhkgm`^S`hkfF
x llllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
bkdck_egl
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
P=
8ZeV]_d`cd_ HbQbc[^
4pPqnLdflpJpnMoipkn!pYp6jgjn:jdjOdnAgknFdlhdjepjnpkgjpjnpYpWgephqnioljqnqjOoko_qjqPrn@d
iolqjeojn_]kpn;ghpmphn4pPqnLdflpJpnMoipkn!pYp6jgjnoWqlqin_]kd_kpn_olqYlqmqkiohnqflojojnqjfpjnlq\qjqj
CPokkqhkomqjonqkqYhqjn[Cm`Ykomqjqnj]hlpkgnpkpjpnipeeokomna#kqjeon_pPgjgPr
Slpl`mh6`jn:jdjOdnAgknFdlhd
chN 3
`E_`!`g^f]!b!`!X
e!ge]aU[c!XfWe f]!b!!Xe!
gbgg^!cechefga
bd!3
U!gcechchf !!Tgbh
h [c!h_`f!!!g!d_!X_
WeX!Z!gefa
? `f3
O]]f!gZbh_cech`eV haU`
! ! cec^c\ f ch hWf!^ _
echdhchhc ccb!che.fWe ga
U!gh`e\chf !!_b!!g
^ bgd!! h _ h Zd!g\
cechhhWh fd!bZe]a
chN 3
Eb!d]hV[g!Wb!d!g\cechf ef!gWcech`T\f hW]_W h
Z!gh f!][Y!cg!gfa>f chcfge!3
R///a fa[b_a S
PP
/diadmq_olnKCjoiqjeonAolqYlqmqkiohnQflojojnQjfpjnXq\qjqjn2Pokkqhkomq
AWicibifmkbkHe]m_MfjbifmiQci^kHemVjm_\X\fHjm^kIeaefkm`^S`fmi_jkhmifakfmciIifim^jciXcigbjdciglm5jgmcZIF
h`b_k]m_jWiXjfmXkgchkgkmVjmiQci^kKhkgkmSMgj]mi_jkhmifakfmciIif_jmY`h`fbkaemSjgjdjfmMUjhhidhjgm_jm_jWiXidhiWj
`Wgkglm6`bQ`gi^jcm;MfjbimjWicibififmkbkHe]m^kIehkfmifdehkIhkgemkfhk^kfmVjmdZg`^kf]m\hdjaifjmQiUbjcmj_jf
i^im^`gcckXhkgm^jciXcigbjdciglm<`ack9km@jbkhm"kXk]mY`m_Mfjb_jm^jciXcigihbjdmiacjfjfmi_jkhmifakfmciIif_jmY`F
h`fbkaemSjgjdjfmMUjhhidhjgi]m9kgdhemUkbkfhkg_km^kIceWemcZIhkfcehkg_kmi9k_jmjcbiXcigl
7ZeV]_d`cd_ FXcbc[^
SYpWgepn/diadmq_olnKCjoiqjeon_olqYlqmqkiohnqflojojnqeopknqjfpjnlq\qjqjnCPokkqhkomqnUonq\dOdn]kp9
mphnSlpl`mh6`jnVdnCPokkqhkomqnqYpmolnoeojnfCPkomqnUomqkiqYlqmrnQ\d;kpmgjepjn_]kpn;ghpmphnVdkipOp_gnlp9
ipikp_gjgPr
=
8Zh_kfm8kWk
Tlm>fakfhkgefmQk^kcefk]m9kkhi^jchjgifjmjSjbjf
Zhkfmd`VVjc]mY`h`Xm^jcjfjWi_igl
Llm5iKYigmbjbhjdjcm^Zdc`gmdimkQhkdmjakahkgefk
_k^kfbk_kfmSjhiXaifl
8[ Glm:lllNmAfmMfjbhimbjajhj]mi^imYigmjWicibmkhkYihF
T
O bjf_igl
Jlm <jbhjdjcm KZH`dhkgem ajgF
[R
* YjacKjm dZf`Xbk^k]m _\X\fF
P _\dhjgifi]m_`^_`dhkgefemZh_`W`
L
O SiYimi9k_jmjcbj^jmcjXVidmj_ihF
E bjhil
[[lm 2jgjdcidKj]m Y\^\dm khKkd
8 SMf\hh\h\W\f\mSMacjgl
A
C
/
G [T
A
J B
'
?O'OE767 Av>E><#>
[[
8"4'6$ D>#><8A#
<A;A*> O5#O@#7
<%EA/O> #O>@
%'AE@A* 12%'
;A<4@'OE>@
?`dkge_kfmOXkWe^k
[lmE\gdmbihhjcififmckgiQ0mYigmficjhiWim_jmS\UjhmakfkchkgemajVbjdmVjmZf_km^\dajhbjdcigl
Blm:lllNm8Za^khmQk^kcckmYiUUkcmjcdjf]m9k^_khemVjmVjgibhimjhjbkfhkgm^jciXcigbjdmSjgjdiglm
Clm"ZUici9mYihibimdkVgkbkbeXmifakfhkgefm^jciXcigjHjWimMWgjfHihjg_jfmY`mbjbhjdjcjmfkaehm9k^_kmYjdhjfjYihig.
=lmDj_jf0mi_bkf]m9idg0mi_bkfhkmIkgkhjhmSicbjhi_igl
PlmA9jf_ihjg]mbjbhjdjcifmKZH`dhkgefefmZgckdmVjmjXicmZhkgkdmdkUkfbkdhkmUZg`fh`mZh_`dhkgemYihibmVjmcjdfidhjg
Vkg_egl
[Rlm;if]mYigmViH_kfmbjajhjai_iglm5jgdjamViH_kfefefmjbgifjm`^bkdckmajgYjacciglm
[Tlm;\X\fHjhjgibiU]mUiQfibiUmbj_jfimZhkHkdceglm
[RR
/diadmq_olnKCjoiqjeonZWqlqinSkpjgjepnAp\gkpjnAojqkqhkom
3ZeV]_d`cd_ ?b\][Ubc[^
SYpWgepn/diadmq_olnKCjoiqjeonio_epjpn[okojNnoWqlqikonqk[qkqnVpPgn[okqYiokomnUomqkiqYlqmrn@dn[o9
kqYiokomqjneCjoiqjnoWqlqiqn`Pomqjeohqnolhqkomqnjpfgkn]kidYldm3nSmhpepYkpmgjgPkpnlpmlgYgjgPrn=qPOonoWqlqi
pkpjgjepnepapnJpmhkgnjon[qVqn;pkgYipkpmn_p\gkpVqkqmeq3n=CPk`n]kpmphnqJpeonoeqjqPr
4gckZd`hhkg_km:ihdMWgjcibmTlmdk_jbjNmdkgbk <`aidim<`khhibm<jdcjYimkKeh_e
jWicibjmSjKih_il
<j_gjajhjgmdkIkceh_el
TIH8 2kUimAWicibmAfacic\a\mkKeh_el
@M^mb`khhibmbjdcjIhjgim9kkhi^jcjmYkXhk_el TIH1
TIDT E\gdmEkgiQm@`g`b`md`g`h_`l
E\gdm;ihm@`g`b`md`g`h_`l TIDH
TIDD %fiVjgaicjmgj9Zgb`m^kIeh_el
;ihmVjmEkgiQF6ZWgk9^km,kd\hcjaimd`g`h_`l TID7
TID8 @M^mjWicbjfhjgim^jciXcigbjmd`gahkgemkKeh_el
@M^mMWgjcbjfmZd`hhkgemkKeh_el TID1
[R[
Trn2Wmolqin@qmkqWqjqjn=pWkpjipfg
/ZeV]_d`cd_ HbQbc[^
SYpWgephqnhdldkpmepnXoUaqe9qnXoemqfplnMpjdjd6jdjnipeeokomqnUonVdnipeeokomqjn[olqmeqWqn_ojqkqh9
komonCmjohkomnUomqkiqYlqmrn
Trn0omnVqmnhpjdjnipeeofqjqNnqk[qkqn_ojqkqhkonoYkoYlqmqjqPrnZYkoYlqmeqWqjqPnhpjdjnipeeokomqjqjnjd9
ipmpfgjgnqk[qkqnp;ghkpipjgjnVpYgjephqnhdldOdWpn_pPgjgPr
HrnZYkoYio_ojnhpjdjnipeeokomqjond_[djn_ojqkqhnCmjohkomqjqnj]hlpkgn_omkomon_pPgjgPr
XoUaqe9qnXoemqfplnMpjdjd
Mpjdjdjnpegc GLRmak^ehemEjVQi_FimEj_giakcm@kf`f`
MpVdknlpmqaqc Lm<kgcm[PTG
Mpjdj6djnLpeeokomq
Mpjdj6djn4olqmeqWqnAojqkqhkom
TrnLpeeocnE\gdi^j3_jdimY\c\fmYihibmVjmMWgjcibmd`F
g`bhkgem<ihh0mAWicibmDkdkfheWefkmYkWhe_egl <j_gjaj]mbjdcjI]m^kYkfHemVjmkUefhedmZd`hF
hkgefefm ^Mfjcibim cjdm jh_jm cZIhkfkgkdm jWicib_jdi
HrnLpeeocn jgi^jmVjmAVdk9mDkdkfheWemVj^kmMUjhmVkF KZdmYkXheheWkmVjm_jfjcibaiUhiWjmaZfmVjgihbiXciglm
de9hkgmckgk9ef_kfmi_kgjmj_ihjfmY\c\fmbj_gjajhjgmVj
Zd`hhkgm <ihh0m AWicibm DkdkfheWefkm _jVgj_ihbiXm Vj
YkWhkfbeXcegl ;if0mdZf`hkg_km^jcjghihiWjmakQiIm`Ubkfhkg
Vjm_ifmSMgjVhihjgififm^jciXcigihbjai]m_jVhjcmdZfcgZF
DrnLpeeoc jgi^jmVjmAVdk9mDkdkfheWemY\cKjaif_j h\fjmkhefbeXcegl
bj_gjajhjgmVjmZd`hhkgmiKifmdZf`hb`XmZhkfmM_jfjdF
hjg]m<ihh0mAWicibmDkdkfheWemY\cKjaifjmkdckgehkHkdcegl
;if0md`g`bhkgefm_jVhjcmVjmjWicibmiXhjgifjmdkF
?rnLpeeoc <ihh0mAWicibmDkdkfheWe]m_if0mYihSihjgmdZf`F geXbkhkgefkmaZfmVjgihbiXcigl
a`f_km^\dajdm`Ubkfhkgm^jciXcigbjdmiKifm%fiVjgaiF
cj_jm:;kg\h9\f`fNmYigmihkQi^kcm9kd\hcjaimd`gkHkdmVj
ibkbhedmVjmQkciIhidmSiYim_if0mQiUbjchjgim^\g\cjHjdmSMF lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
gjVhihjgim^jciXcigbjdmiKifmiajmk^gemZd`hhkgmkKehkHkdcegl
4abkfhem;jVhjci3fif]maZfm^\U^ehef_k]mjWicibmkhkfef_kmDkce3^emMgfjdmkhkgkdm^kIceWemeahkQkchkgmVjmYkXdkmSjF
hiXbjhjgmaZf`H`f_k]m\hdj_jm9kgdhemjWicibmd`g`bhkgemZgck^kmKedbeXceglmD`m_Mfjb_jmSjhjfjdajhmjWicibmd`g`bhkge]
EkfUibkcmbjdcjIhjgi]m^kfimDkcemciIim_jVhjcmZd`hhkge]mkUefhed]m^kYkfHem_jVhjcmZd`hhkgemVjmbia^ZfjgmZd`hhkgemYig
kgk_kmY`h`fbkdck^_elm,kgdhemIgZSgkbhkgm`^S`hk^kfmVjm9kgdhem_ihhjg_jmjWicibm^kIkfmY`mZd`hhkg_kfmbjU`fmZhkf
MWgjfHihjgifm_`^S`mVjm_\X\fHjmYkdebef_kfm9kgdhehedhkge]mcZIh`b_kmdkgSkXk^kmfj_jfmZh`^Zg]m_kQkaem^edeHemVj
YMh\H\mQkgjdjchjgjmUjbifmQkUeghe^Zg_`lm"gZSgkbemVjmkbkHem9kgdhemZhkfmjWicibmd`g`bhkgefefm9kgdhemYigibhjgHj
^Mfjcihbjai]mjWicib_jmZgckdm_jWjghjgifmZh`XbkaefemjfSjhhjbiXciglm4abkfhem;jVhjci3f_jmjWicibmiXhjgim5kgYi^j]
<kkgi9Fim$b`bi^j]m jggi^jmVjmAVdk9]migkkc]mEiHkgjc]m4gbkfmVjm<j_kifmfjUkgjchjgimckgk9ef_kfm^\g\c\h\^Zg_`lm
[RT
+ZeV]_d`cd_ HbQbc[^
SYpWgepNnCWmolqieonVqmkqWqjnfpWkpjipfgnpipOg_kpn_p\gkpjnVpPgnd_[dkpipkpmnaphhgjepnVqk[qnUomqk9
iqYlqmrnAp\gkpjnd_[dkpipkpmgjn[omoh;okomqnqkonqk[qkqn;ghpmgikpmgjgPgnj]hlpkgnpkpjpn_pPgjgPr
1WgjcibmDighiWififm8kWhkfbkaemObkHe^hkm?kIehkfm-kheXbkhkg
;if0mjWicibmVjmaZQYjcF
4abkfhem;jVhjci3f_j]mSjhjF 4abkfhem;jVhjci3f_j]mDkce hjgifm ^kIeh_eWem cjddjm Vj 4abkfhem;jVhjci3f_jmKjF
fjdajhm Vjm _if0m iKjgidhi ckgUef_kmjWicibmd`g`bhkgeF UkVi^jhjgm kgkaef_km _\F Xichim cZIh`h`dhkg]m djf_i
jWicibm^kIkfmbjdcjIhjg] fefm kKehbkaem ihjm Yighidcj X\fHjm9kgdhehedhkgemVkg_el _ih]m _if]m Vjm d\hc\ghjgifj
jgi^jmVjmAVdk9m/jd)hjF bjdcjImVjmbj_gjajmkgkF 8Zfm ^\U^ehhkg_km Y`m d`F SMgjmZd`hhkgmkKkYihi^ZgF
cifj] ^jfihidKimjWicibm^kIkf aef_km KkceXbkm ^kXkf_el g`bhkg_km _ifhjm ihSiaim ZhF _`lm4d`hhkg]m#ZUkfmOfcF
bjdcjIhjgmiajm<kkgi9m/jF 6`bQ`gi^jcm;Mfjbif_j] bk^kfm Yigckdebm Q`gk9j hkXbkaemihjm<ihh0mAWicib
d)hjcifjmYkWhemi_ilmLm<kgc ^jfim _jVhjcifm ^kIeaefk Vjm`^S`hkbkhkgm_km^k^F DkdkfheWefkm YkWhkf_el
[PTGmckgiQif_jmKedkgehkf `^S`fm Zhbk^kfm bj_gjF SefhkXbeXcelmkbkfhkmaiF %hdjm iKif_jm ai^kajcm Vj
dkf`fhkm jgi^jmVjmAVdk9 ajhjgm Vjm jadim jWicibm d`F ^kaim Zhk^hkgkm _km dkgeXF _ifmIgZIkSkf_kaefefm^kF
/jd)hjcimdkh_egeh_el g`bhkgemdkIkceh_el bk^km YkXhk^kfm cjddj Iehbkaem^kakdhkf_el
VjmUkVi^jhjg]mLRm@kaeb
[PTJ3cjmdkIkceh_el
[RL
HrnZWqlqiqjnLqkk'n:kipfg
)ZeV]_d`cd_ Fa`d^e,K\TUT^
SYpWgepnUomqkojnCjomiokomkonqk[qkqnfo;ojohkomeojnd_[djnVdkedhkpmgjgPgnnqYpmolqnh]_pmphnVokqmko9
_qjqPrnQYpmolqjnapj[qnfo;ojohkomeon_]WdjkpYlgWgjgnlof\qlnoeq\nh]jd_kpnqk[qkqn;ghpmgikpmgjgPgnVqmnO`iko
qkonf]jd;nVCk`i`jon_pPgjgPr
Mgfioj
2FZBLZGZB Mplgkg_]mdi Mplgkig_]mdi
Mplgkg_]mdi
5jgm_jVhjcifmdjf_ifjmMUS\mYigmjWicibmIZhicidkaemZhF
bkhe_egl ^ ^ ^
<ihh0mjWicibmIZhicidkaemYjhighjfigdjfmcZIh`b`fmai^kai]
aZa^kh]md\hc\gjhm^kIeaemSMUmMf\f_jmY`h`f_`g`hbkheF
_egl
^ ^ ^
AWicibifmbihh0mZhbkaemYigj^hjgj]m\hdjmY\c\fh\W\fjmVj
YkWebaeUheWefkm^MfjhidmcjQhidjmVjmcjQ_ichjgjmdkgXe
QkhdkmYighidcjmQkgjdjcmjcbjmYihifHifimdkUkf_egegl
^ ^ ^
<ihh0mjWicibmkfhk^eXe]mQjgmkhkf_km_iWjgm`h`ahkgmihjmgjF
dkYjcmj_jYihigmYigj^hjgm^jciXcigbj^imQj_j9hjgl ^ ^ ^
AWicibifmbihh0mZhbkae]mcZIh`b_km_`^S`mVjm_\X\fHj
YighiWififmSjhiXbjaifimakWhkgl ^ ^ ^
AWicibifmbihh0mZhbkae]mKkW_kXmjWicibm^kIehbkaefe
jfSjhhjgl ^ ^ ^
AWicibifmbihh0mZhbkae]m^jfimfjahifmdjf_im_ihifjmVj
d\hc\g\fjmak^Sehem^jciXbjaifimakWhkgl ^ ^ ^
AWicibifmbihh0mZhbkae]mjWicibmaiacjbifif]mc\bm^kF
YkfHemjcdihjgjmdkIkhemZhbkaefemakWhkgl ^ ^ ^
AWicibifmbihh0mZhbkae]mk^fem_ihimdZf`XkfmVjmk^fe
kbkHkm`^S`fmfjaihhjgifm^jciXbjaifimakWhkgl ^ ^ ^
=]jd;c
[RG
J$ZeV]_d`cd_ ATUT`acd^
ib_i^jmdk_kgma\g_\g\hjfmjWicibm^Mfcjbhjgifif]mbihhjcibiUifmckgiQ0mSjgihiWif_jmjfmMfjbhimjcdjfmZh_`W`
ifkfHef_k^eblm4f`fmiKif]mYigmbihh0mcjgYi^jmIgZSgkbef_kfmaMUmj_jgdjfmjadim_jVgifmQ`gk9jhjgif_jfmVjm^kgkF
ceheXmMUjhhidhjgibiUhjmQiKm_jmihiXdiaimZhbk^kfm^kYkfHem_\X\fHjhjg_jf]m;ZW`3_kfmVjmDkce3_kfmSjhjYihjHjdmjcF
dihjg_jfmY\c\f\^hjm`Ukd]mbihh0mVjmckgiQ0mdkgkdcjgibiUjm`^kfmYigmd\hc\g_jfmaMUmj_i^Zg`blm
<`ack9km@jbkhmOEOE%'@
kckblSZVlcg
4pPqnLdflpJpnMoipkn!pYpNn_dhpmgephqnfCP`_konoWqlqiqjniqkk'n]kipfgnq;qjnapj[qnCPokkqhkomoneqhhpl
;ohiqYlqm3n=C_ko_qjqPr
2jfKmE\gdi^jm6`bQ`gi^jci3fifmMfHjhidhimQj_j9hjgif_jfmYigi]mbihh0mYighidmVjmY\c\fh\W\fmakWhkfbkae^_elmD`
fj_jfhjmjWicibmaiacjbimZh`Xc`g`h`gdjfmjWicibifmbihh0hjXcigihbjaifjmKZdmMfjbmVjgihbiXciglm?jfim_jVhjccjmjWicibif
bihh0mZhbkaefefmSjgjdhihiWim\UjgifjmSMg\Xhjgifimihdm_j9km[PT[m<kkgi9m@ZfSgjai3f_jdimkKeheXmdZf`Xbkaef_kmi9k_j
j_jfmOckc\gd]m_kQkmaZfgkm^kIceWemdZf`Xbkhkg_km_kmY`m9idgifimaedmaedmYjhigcbiXciglmEjVQi_FimEj_giakcm@kf`f`3f`f
Kedkgehbkae^hkmY`mdZf`_kmkcehkfmY\^\dmk_eb]m_kQkmaZfgkdimKkheXbkhkghkm_km_jacjdhjfbiXcigl
JJZeV]_d`cd_ HbQbc[^
SYpWgepNnoWqlqiqjniqkk'n]kipfgnpipOg_kpn_p\gkpjnVpPgn;pkgYipkpmnaphhgjepnVqk[qnUomqkiqYlqmrn@dn;p9
kgYipkpmgjnoWqlqiqjniqkk'koYlqmqkiofqjqnjpfgknolhqkoeqWqjqnj]hlpkgnpkpjpn_pPgjgPr
AWicibifm<ihh0m4hbkaemObkHe^hkm?kIehkfm-kheXbkhkg
[RJ
Drn+pWepYnZWqlqinSjkp_gYgjgjn@ojqifojiofq
JBZeV]_d`cd_ @b\U[cbU][\bc[^e
SYpWgepnVqmqjOqnVCk`ieonSUmd\p6epn:mlpn+pWgjnf]jkpmgjepnVpYkp_g\nS_egjkpjipn+pWgjpnhpepm
f`mojNnqhqjOqnVCk`ieon:fipjkgnKoUkolqnUonX`mhq_on/diadmq_olq6jeonoWqlqieon;pWepYkpYipnf`moOq_ko
qk[qkqnVpPgnp;ghkpipkpmnUomqkiqYlqmrn
Trn+pWepYkpYipnf`moOqjqjnpYpipkpmgjgnhpmYgkpYlgmpmphnX`mhq_o6eonUonSUmd\p6epn;pWepYnoWqlqinf`9
moOqjeohqneoWqYqhkqhkomqjnapj[qnpkpjkpmepnUonjpfgknio_epjpn[okeqWqjqnipeeokomna#kqjeonpYpWgephqnj]h9
lpkgnpkpjpn_pPgjgPr
Hrn@okqmllqWqjqPneoWqYqhkqhkomeojn_]kpn;ghpmphn;pWepYnoWqlqiqjnloioknjqlokqhkomqnaphhgjepn;ghpmgikpmep
VdkdjdjdPr
SUmd\p6ep
mOdehHemVjmMUS\gm_\X\fHj^jm_kF
($<<9$<<<rnA`P_gkkpmnUon=]jmpfg)
^khemjWicibmaiacjbimZh`Xc`g`h_`l
BCjofpjf9BoJ]minKCjoiqn
mD`m_Mfjb_jm_if0mjWicibm^kIehF
mAWicibmd`g`bhkgef_kmdMdh\m_jF
:mlpn+pWn(<$9$rnA`P_gk)
bkdck_eglm
mD`m_Mfjb_j]mjWicibm\Ujgif_jdi WiXidhidhjgm^kIeh_el
m @ihiajm Vjm bkfkaceghkg]m Mfjbhi
S_egjkpjipn+pWgn
($9$<rnA`P_gkkpm)
_if0mYkademaZfkmjg_il mAWicib_jmifakfefmKZdm^Mfh\mSjF
jWicibFMWgjcibmbjgdjUhjgi_iglm
m<kcYkkmcjdfiWififmSjhiXbjai^hj] hiXibimjakamkhef_el
mD`m_Mfjb_jmadZhkacidm_\X\fHj
dickIm^kUebef_kmkgceXmZh_`lm mD`m_Mfjb_jm^jciXjfmjWicibHiF
Q)dib_igl
mDihSi^jm`hkXbk_kmkdehmVjm_jfj^ hjg]m Y`m khkf_km Mfjbhim dickIhkg
mAWicib_jmdkcemYigm_iaiIhifm`^S`F
^Zh`md`hhkfeh_el ^kU_el
hkfbkdck_egl
mD`m_Mfjb_jdimSjhiXbjmVjmkgkXF m?kIkgkdmMWgjfbjmMfmIhkfk
m;MfjbifmaZfhkgefkm_ZWg`m^jciF
cegbkhkg]mO^_efhkfbkm-kWefemYkXF khef_elm
XjfmYihibmk_kbhkgemihj]m_\X\fHj
hkccel m@k_efhkgefm_kmjWicibifjmMfjb
^kIeaem ^jfi_jfm Xjdihhjfbj^j
Vjgihbj^jmYkXhkf_el
YkXhk_el
mAWicib_jmdkcem_iaiIhifjmaZfmVjF
gih_il
s
:fipjkgnKoUkolq6jeo
MkpfqhnKCjoin(TD9TIrnA`P_gkkpmnSmpfg) XpjPqipl9LoYmdlq_olnKCjoiqn(TIrnA`P_gk)
mD`m_Mfjb_jm_if0mjWicibmkfhk^eXemQ)dib_igl mD`m_Mfjb_jmjWicib]mYigmYihibmZhkgkdmSMg\hbj^jmYkXhkf_e
mDihibmkfhk^eXe]mjadimYihSihjgimZh_`W`mSiYimMWgjfbjdcjfmiYkF VjmY`mkhkf_kmMfjbhimdickIhkgm^kUeh_el
gjccigl m?jfimMWgjcibm^MfcjbhjgimVjm_jgamkgkKmSjgjKhjgififmd`hhkF
mAUYjgm^Mfcjbimd`hhkfehbkdck]mjhjXcigimVjmckgceXbkm^kIehF fehbkaefkmMfjbmVjgih_ilm,khkdkm^kakdhkf_el
bkbkdck_egl m@eUmMWgjfHihjgifm_jmjWicihbjaifjmMfjbmVjgihbj^jmYkXhkf_el
mAWicib_jm9khkdkmMfjbhimYigm_iaiIhifmkgkHe_eglm mAWicib_jmMUS\gm_\X\fbj^jmMfjbmVjgih_il
m;jVhjcifmjWicibjmZhkfmihSiaim_kQkmKZdmdjf_imiQci^kHemZhkf mD`mjWicibmKkheXbkhkge]m6`bQ`gi^jcm;Mfjbifjm^MfmVjgF
kadjgmVjmY\gZdgkchkgefm^jciXcigihbjai^hjmaefeghe_eglm biXcigl
X`mhq_on/diadmq_olq6jeo
mD`m_Mfjb_j]mjWicibifmSjhiXcigihbjaimiKifmMfjbhimifdehkIhkgm^kIeh_elm
mOgkXcegbkmVjmSMUhjbjm_k^khemjWicibmkfhk^eXefefm`^S`hkfbkaefkm^MfjhidmHi__imk_ebhkgmkceh_el
mDihibajhm^MfcjbmVjmcjdfidhjgifmd`hhkfehbkaefkmMfjbmVjgih_ilm
m@kgbkmjWicibjmSjKih_il
mAWicibifm_jbZdgkcid]mhkid]mKkW_kXmVjmbihh0mZhbkaemiKifmKkheXbkhkgm^kIeh_el
[RB
J9ZeV]_d`cd_ HbQbc[^
=qPon[Cmox+pWepYnoWqlqiqjn[om;ohkoYoVqkiofqnq;qjnVqmnoWqlqinfqfloiqjeon]kipfgn[omohojnloioknjq9
lokqhkomqNnpYpWgepnUomqkojnhdldOdhkpmpNnqk[qkqnVpYkgWgneqhhplonpkpmphn_pPgjgPr
AWicibm,jhaj9jaim
AWicibm"gZSgkbhkge
llllllllllllllllllllllllllllll AWicibm@`g`bhkge
llllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllm
llllllllllllllllllllllllllllll
llllllllllllllllllllllllllllll llllllllllllllllllllll
lllllllllllllllllll lllllllllllll
1Wgjcibm
-kW_kXmjWicibmkdehHe]mYihibajh]mSMUhjbmVjm_jfj^j ?MfcjbmVjmEjdfidhjgi
_k^khemZhbkhe]mYihSi^imjakamkhbkhe_eglmDigj^jmkgkXcegbk] lllllllllllllllllllllllllllllllllll
jhjXcigjhm _\X\fbjm SiYim YjHjgihjgm dkUkf_egbkhe_egl lllllllllllllllllllllllllllllllllll
-kW_kXm jWicib_jm YihSim iXhjVajh]m bihh0]m _jbZdgkcid] lllllllllllllllllllllllllllllllllll
ifakfmQkdmVjmMUS\gh\dhjgifjm`^S`fmVjmhkidmZhbkhe_egl lllllllllllllllllllllllllllllllllll
E\gdi^jm 6`bQ`gi^jci3fifm Ockc\gd3\fm SMacjg_iWi lllllllllllllllllllllllllllllllllll
KkW_kXm`^SkghedmajVi^jaifjm`hkXbkmQj_j9ifimSjgKjdF lllllllllllllllllllllllllllllllllll
hjXcigbjaimMWgjcibifmc\bmdk_jbjhjgif_jdimZd`hhkXbk
ZgkfhkgefefmSjhiXbiXm\hdjhjg_jdifjm`hkXbkaemVjmficjhid
ZhkgkdmKkW_kXmMhK\chjgjm`^S`fmQ)hjmSjhbjaimihjmb\bF
d\f_\glmAWicibmaiacjbi]mKkWefmSjgiaif_jmdkhbkbkae
iKifmSjhiXbjhjgmSMUmMf\f_jmY`h`f_`g`hkgkdma\gjdhi
^jfihjfbjhi_iglm*icjdibmE\gdi^j]mH`bQ`gi^jcifmd`g`hF
_`W`mS\f_jfmYjgi]mjWicibifmKkW_kXhkXbkaem^Zh`f_k AWicib
Mfjbhimk_ebhkgmkcbeXcegl OgkKmVjm2jgjKhjgi
llllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllll
1WgjfHim"gZ9ihi
;iaiIhifm?Mfcjbi
llllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllll llllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllll llllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllll lllllllllllllllllllllll
llllllllllllll
[RC
?rnZWqlqiqjnKoi]hmplqhn:kipfg
5\gmVjm_jbZdgkcidmYigmcZIh`bm_\UjfififmSjgKjdhjXbjaimVjm_jVkbemiKifmVkckf_kXhkgk]m_jbZdgkaififmaZg`bh`h`d
_`^S`a`f`fmSjhiXbjaimVjmMUS\gh\dhjgjmak^SemihjmYkWhkfcehemZh_`W`f`fmkdckgehbkaemSjgjdiglmD`]mkfHkdmjWicibmihj
Zh`glm;jbZdgkcidmjWicibmkfhk^eXef_kmjWicibmd`g`bhkgem_ih]mHifa]m_if]mbjUQjI]megdmk^gebem^kIehbkdaeUefmQjgdjaj
kKedmZhbkhemjWicib_jmdibaj^jmk^geHkhedmckfefbkbkhemVjmk^gebHehedm^kIehbkbkhe_eglmO^geHkm_\X\fHjhjgifmMUS\gHj
i9k_jmj_ihbjaififm_jacjdhjfbjaimVjmY`mdZf`_kdimMfm^kgSehkgefmZgck_kfmdkh_egehbkaemSjgjdbjdcj_igl
J8ZeV]_d`cd_ HbQbc[^
SYpWgepnoWqlqiqjneoi]hmplqhn]kipfgjgjnVqmo_onhpPpjegmeghkpmgnqkonqk[qkqnp;ghkpipkpmnUomqkiqYlqmNn]hd9
_djdPrnZWqlqiqjneoi]hmplqhn]kipfgnqkonqk[qkqNn;oUmojqPeon[Cme`W`j`Pn]kdikdnUon]kdifdPnd_[dkpipkpmg
j]hlpkgnpkpjpn_pPgjgPr
1WgjfHihjgj]mYigj^F
hjgifmifakfmZhkgkdmjXic
QkdmVjmMUS\gh\dhjgj
akQiImZh_`W`mkfF
1WgjfHihjgjmjhjXcigjh 1WgjfHihjgj
hk^eXefemdkUkf_egegl
_\X\fbjmYjHjgiai _jbZdgkcid] hkid
dkUkf_egkgkdmaZg` VjmaZa^khmQ`d`d
aZgbk^e]mjhjXcigihjgi _jVhjcifjmakQiI
QZXmdkgXehkbk^e ZhbkmYihifHifi
MWgjciglm dkUkf_egegl
CcZc_d h\Wc_gfbh h
bVf gc]!!! [Zh`fd _
g_f Z! e `! dWV bf
[h!gfbhd!X!!\e eY!
f! [\!e`_g_!`
dbfhge[d!!_f!_g
^de[!!\W cc^ fZ`
f!gY^!Xh]!gV[`
1WgjfHihjgj]m`h`akh fd!Z`6!Xh^ fhf 1WgjfHihjgjmMUS\gF
YighidmVjm_\Ujfi !g\O!edgTgd!!O h\dK\]m KZW`hH`m Vj
akWhkbkmVjm_\f^k chfe Z^!ehded_gb dkcehebHem _kVgkfeX
YkgeXefkmdkcde_kmY`F b)h h!!eVfd!_! h dkUkf_egegl
h`fbkm_kVgkfeXhkgefe h [c!ch ded be _ `f
dkUkf_egegl h`fd! WZ`hgfeg!_
f]a
RNM^ ff!!S
[R=
7rnGpqhnZWqlqinSjkp_gYgjgjn@ojqifojiofq
6`bQ`gi^jcm;Mfjbif_j]mjWicib_jmhkidhidm_\X\fHjaifim^jghjXcigbjdmiKif]m_ifm^jgifjmbZ_jgfmcZIh`bhkg_k
cjbjhmkhefkfmYihibmVjmkdehHehedmSiYim_jWjghjgmjakamkhefbeXceglm;ifmjWicibififm_jVhjcmdZfcgZh\f_jmVjmVkckf_kXhkgef
ifkfKhkgefkm`^S`fmZhkgkdmVjgihbjaimMfmSMg\hb\X]mjWicibFMWgjcibifmkbkHemVjmiKjgiWi]m_\f^jVimiQci^kKhkgkmSMgj
^jfi_jfm^kIehkf_egehbeXceglmD`m_Mfjb_jmhkidmjWicibhj]m9idgimQ\g]mViH_kfemQ\gmfjaihhjgm^jciXcigihbj^jmKkheXehbeXceglm
6`bQ`gi^jcm;Mfjbif_jmEjVQi_FimEj_giakcm@kf`f`3f`fmKedkgehbkae]m jgi^jmVjmAVdk9m/jd)hjcififmdkh_egehF
bkae]mcjddjmVjmUkVi^jhjgmihjmbj_gjajhjgifmdkIkcehbkaemhkidmjWicibifmd`g`hbkaemkbkHe^hkmkcehbeXmMfjbhimk_ebF
hkg_egl
J7ZeV]_d`cd_ <bWcbUbc[^
SYpWgepNnX`mhq_on/diadmq_olqnKoUkolq6jeonkpqhkqhnpkpjgjepn_p\gkpjnVpPgn_pfpkne`PojkoiokomnUomqk9
iqYlqmrn@dne`PojkoiokomqNnpYpWgepjn_dhpmg_pne]WmdnqjOoko_omohn`khoiqPeonkpqhnoWqlqinpjkp_gYgjpn[o;qY
pYpipkpmgnqkonqk[qkqn;ghpmgikpmepnVdkdjdjdPrn@dnh]jdephqne`Y`jOokomqjqPqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
TI>Hc ?jfimOfk^kakmdkY`hmj_ih_ilm!;ifmVjmkQhkdmjWicibmVj
MWgjcibim _jVhjcifm SMUjcibm Vjm _jfjcibim khcef_km ^kIeheglll
D`f`fm _eXef_kdim _ifm jWicibm Vjm MWgjcibim kfHkdm diXihjgif
djf_imiacjWifj]md\K\dhjgifm_jmdkf`f0mcjbaihHihjgififmckhjF
YifjmYkWhe_eglmQ\db\mSjcigih_il
TI1Dc <ihh0mAWicibmEjbjhm@kf`f`m^\g\gh\WjmSig_ilm!E\gdmbihh0mjWiciF
bif_jm hkidhidm jakaceglm ;ifm d\hc\g\m Vjm kQhkdm MWgjcibim ihdMWgjcib
Zd`hhkge]mhiajmVjm_jfSimZd`hhkg_kmUZg`fh`m_jgahjgmkgkaef_km^jgmkhegl
Q\db\mSjcigih_i
TIH?c Ofk^kakmdkY`hmj_ih_ilm!5iKmdibajm9jhaj9imifkfHef_kf]m_ifmVjmbjUQjYif_jf
_Zhk^emdefkfkbkUlm2\VjfhiWj]mj_jImVjmcMgjhjgjmVjmdkf`fmQ\d\bhjgifjmk^degemY`F
h`fbkbkdm\UjgjmQjgmc\gh\m_if0mcMgjfhjgmajgYjacciglmQ\db\mSjcigih_il
TIH?c EjVQi_FimEj_giakcm@kf`f`mdkY`hmj_ih_ilm,kgdhemYkdkfhedhkgkmYkWhemZhkfmZd`hhkg]m<ihh0
AWicib DkdkfheWefkmYkWhkf_elm;ifmjWicibim^jfi_jfm_\Ujfhjf_il
TIH?c 5ihk9jcmdkh_egeh_elmDM^hjHj]m_kQkmMfHjmai^kaimS\H\mjhif_jfmkhefeIm_if0mYigmd`g`bmZhkgkd
^kXkbkaefkmiUifmVjgihjfmQihk9jcif]mH`bQ`gi^jcmgjibif_jm^MfjcibjmZgckdmZhbkaemgiadimYjgckgk9
j_ihbiXcigl
TIHDc #ZUkfmDkgeXmOfchkXbkaemibUkhkf_elmE\bm^kYkfHemZd`hhkgem<ihh0mAWicibmDkdkfheWefkmYkWhkf_elmD`
Zd`hhkg_km_if0mIgZIkSkf_km^kIehbkaem^kakdhkf_el
[RP
8rnMpmipnZWqlqinSjkp_gYgjgjn@ojqifojiofq
J3ZeV]_d`cd_ HbQbc[^
SYpWgephqnhdldOdhkpmepn:fipjkgNnLqkk'nL`OpeokonUon/diadmq_olneCjoikomqjeohqnhpmipnoWqlqind_9
[dkpipkpmgnaphhgjepnVqk[qnUomqkiqYlqmrn$omqkojnVqk[qkomeojn_pmpmkpjpmphnf]mdkpmgn_pjglkp_gjgPrnApjglkpmgjgPg
j]hlpkgnpkpjpn_pPgjgPr
Trn:fipjkgneCjoiqjonpqlnhpmipnoWqlqind_[dkpipkpmgn[`j`i`PeoneoneoUpinoeq_]mnid3nFoeoj3
Hrn/diadmq_olnKCjoiqjeonhpmipnoWqlqion[o;qYqnagPkpjegmpjnJphlCmkomnjokomn]kidYldm3
DrnQkhNn]mlpnUon_`hfohCWmolqieonhpmipnoWqlqionapj[qn_gkkpmepn[o;qkiqYlqm3
D
kmdkgbkmjWiF
;kg\h9\f`f_
[PT[m^ehef_km
cigl
cibjmSjKihbiX hhkg_kmdkgbkmjW
icibmYkXF
[PTG 3cj mihdZ d`
hkbeXcegl kfmiciYkgjf
F[ P T C mM Wgjcibm^ehef_ eU
[ P T B mMWgjcib_j]md
gj ca iU mQ )h jm SjcigihjfmZgck MW gj fi b
\H kgk_km
mj gd jd mM Wg jfHihjgifmYigm
Vj cigl
KjdhjXcigihbiX
SMgbjhjgimSjg iY kgjf mhiajhjg_jmdkgb
k
m^ ehe f_ kf mic
[PLG
hbiXcigl
jWicibjmSjKi miciYkgjf]m dM^m
MWgjcbjf
[PLCm^ehef_kf SjKihbiXcigl
dk gbkmjWicibjm
Zd `h hk ge f_ km ^m jfacic\hjF
miciYkgjf]m dM
[PGRm^ehef_kf hbiX l
cig
jWicibjmSjKi
gif_jmdkgbkm
[[R
J/ZeV]_d`cd_ FXcbc[^
SYpWgepn/diadmq_olnKCjoiqjeonoWqlqi9CWmolqinpkpjgjepn_p\gkpjn;pkgYipkpmnUomqkiqYlqmrn@dn;pkgY9
ipkpmgjnapj[qnoWqlqinqkhofqbqkhokomqjqjn[om;ohkoYiofqjonhplhgepnVdkdjedWdjdNnqk[qkqnhdldOdhkpmpn
qYpmolqnh]_pmphnVokqmlqjqPr
EjVQi_FimEj_giakcm@kf`f`3f`fmKedkgehbkae
E\gdmEkgiQm@`g`b`f`fmd`g`hbkae
5kg9m;jVgibi3fifm^kIehbkae
EjddjmVjmUkVi^jhjgifmdkIkcehbkae
<j_gjajhjgifmdkIkcehbkae
E\gdm;ihm@`g`b`f`fmd`g`hbkae
@eUmVjmjgdjdmKZH`dhkgefmk^femZd`h_kmjWicihbjai
jgi^jmVjmAVdk9m/jd)hjcififmdkh_egehbkae
jgj9mOd_idm<ihhjcm<jdcjIhjgi 6`bQ`gi^jcifmihdm^ehhkgef_kfmjWicibmbkfUkgkhkge
[[[
J+ZeV]_d`cd_26_XceA[U[ =\bU][\bc[^
X`mhq_on/diadmq_olqnKoUkolq6jqjnCWmojOqkomonhpPpjegmiphnqfloeqWqnjqlokqhkomNnXr/rnSjp_pfpfg6jep
(TI>H)NnT1DInfp_gkgnLqkk'nZWqlqinXoioknMpjdjd6jepn(TI1D)nUonA`hfohCWmolqinMpjdjdnqkonoWqlqikonqk[qkq
VpPgn_pfpkpmepn_omnpkgmr
SYpWgepnVokqmlqkojnpjp_pfpnUonhpjdjkpmgnD`]a\`a] ]mlpigjepnqjOoko_q\nhpmipnoWqlqikonqk[qkqnipeeo9
komqnpmpYlgmgjgPrn.kpYlgWgjgPnVqk[qkomqnj]hlpkgnpkpjkpmpn_pPgjgPr
[P=TmOfk^kakae3fkm2Mgj
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
<ihh0mAWicibmEjbjhm@kf`f`3fkm2Mgj
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
?\dajdMWgjcibm@kf`f`3fkm2Mgj
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
[[T
/
SXSX,BM6,FnZ&QXQLGZnQG4QGQn42B,"GZBQ
Hazrlanalm
[lmOckc\gd]mjWicibmVjmMWgjcbjfhjgjmfj_jfmY\^\dmMfjbmVjgbiXcig.
TlmDkXMWgjcbjfmdkVgkbemaiUhjgjmfjmQkceghkce^Zg.m
LlmOckc\gd3jmYkXMWgjcbjfm`fVkfemfj_jfmVjgihbiXcig.
JZeV]_d`cd_ <bWcbUbc[^
SYpWgepNnSlpl`mh6`jnoWqlqinUonCWmoliojkomn`Pomqjon[Cm`Ykomqjeojn_]kpn;ghgkpmphn]kdYldmdkidYnhdm9
[dfpknVqmnmC\]mlp%nUomqkiqYlqmrnSlpl`mh6`jn[Cm`YkomqjqneoWomkojeqmomohn;ghpmgikpmgjgPgnfgjgJgjgPephqnpm9
hpepYkpmgjgPkpn\p_kpYgjgPr
B =p_gjn/diadmVpYhpjgiNnVqPqikon/diadmq9 VjmckgceXbk_kfm`Ukd]mjUYjgm^Mfcjbhjghjm^kIehe^Zg_`l
_olnKCjoiqnoWqlqiqnUonCWmoliojkomqnaphhgjepnmC9 AWicibmbihh0mZhbk^eIm_eXkg_kfmjcdihjgmaMUmdZf`a`^_`l
\]mlp%n_p\ip_gnhpVdknollqWqjqPnq;qjn;]hnloYohh`m >acidgkghemYigmjWicibmIZhicidkaemZhbk_eWemiKifma\gjdhim_jF
oeomqPr WiXidhidm ^kIehe^Zg_`lm 2jhjfjdajhm Zhkgkdm `^S`hkfkf
jWicib]m Y`m _\f^k^km _jWih]m MY\gm _\f^k^km ^Mfjhidcil
AWicib]mKkWefmSjgjdhjgifjmVjmcZIh`b`fmiQci^kKhkgefk
HjVkImVjgjbjbjdcj^_il
B =qPOon_ojqneoUkolqjnoWqlqiqnjpfgkn]kipkgegm3
[[L
1Wgjcbjfhjg]maiUifmYkXkgefeU]mH`bQ`gi^jcifmYkXkgeae ckQckmdkgXeaef_kmMWgjcbjdmiKifm^`gcmSjUihjgifjmKedcebl
ZhkHkdceglm6`bQ`gi^jcmaiU_jf]m9idgimQ\g]mViH_kfemQ\g]migF
9kfemQ\gmfjaihhjgmiacjgl 1Wgjcbjfhjgifm Y`m cZIh`bm iKifm Mfjbhim Zh_`W`fk
ifkf_eWebmiKif]m^`gcmSjUihjgif_jmZd`hhkgemSjUjgjdmMWF
B Sfhom'nUonfq_pfqnpkpjephqnVpYpmgjgPgjn_pjg gjcbjfhjgifm_jgahjgifjmSig_ib]mSMg\Xhjgifimkh_ebl
fgmpnoWqlqiOqnhqYqkqWqjqPqjneon]kedWdjdnVqkq_]mdPr
,jk`nX`mhne`Y`j`m`npmpVqNnQ_qnVqmneoUkolnVpYhp9 ;jgamdickIhkgem^kU_eblm2jZbjcgimdickYef_kmZh_`W`
jgjgjNn iqkkolqjqjn oWqlqiOqfqn ]kipfgn [omohqmr66eomr SiYi]mjadimjWicibmcjgibhjgim^jgifjmkKedmVjmak_jmE\gdKj
=qPqjnVdnh]jdephqne`Y`jOokomqjqPnjokomeqm3 cjgibhjgmY`h_`bm:\KSjf]mdkgj]mkKemSiYiNl
B %fh\m _\X\f\g\fm Y`m aMU\fjm dkcehe^Zg`blm D` -Zdm dickIm Zd`^kgkd]m KjVgjb_jdihjghjm ckgceXkgkd
_ZWg`hc`_km^kIcedhkgeb_kfmYkUehkgemX`fhkg_eg MWgjf_idhjgib_jfmcZIh`b`fm^kgkghkfbkaefkmKkheXcebl
DkXMWgjcbjfmae9kce^hk]mbihhjcibjm^jfimQkg9hjgimdkgk
:<ADmAWicibm;jgSiai]m8m=RF=[]malm[BFTR3_jfm_jghjfbiXciglN
JZeV]_d`cd_26_XceA[U[ =\bU][\bc[^
Slpl`mh6`jnoWqlqinUonCWmoliojkomkonqk[qkqnfCPkomqjqnpmpYlgmpmphnVdkedWdjdPnVoYnfCP`npYpWgephq
pkpjpn_pPgjgPr
[[G
+
/.L0.BQAZXnK2FZLQFKZnZ&QXQLKZn4ZGQ"LZGZB
Hazrlanalm
[lm;j9cjgifiUjm6`bQ`gi^jcm;MfjbimjWicibifimkfhkckfmYigmdkgidkc\gmKiUbj^jmKkheXefeUl
Tlm ! ! Zgckbef_km kgkXcegbkm ^kIkgkdm 6`bQ`gi^jcm ;Mfjbif_jm QkfSim Zd`hhkgef
kKeh_eWefemcjaIicmj_ifiUlm
%hdjbiU_jm@`gc`h`Xm8kVkXe3fkmIkgkhjhmZhkgkdma\g_\g\hjfmjWicibmKkYkhkge]mH`bQ`gi^jcifmihkfef_kfmaZfgk]
bZ_jgfm_jVhjcmbjdkfiUbkaefemiXhjcjHjdmVjm\hdjmdkhdefbkaefemSjgKjdhjXcigjHjdmd`XkdhkgemjWicbjdmiKifm^jfi
d`g`bhkgefmkKehbkae]m^jfim^kakhkgefmKedkgehbkaemSiYim9kkhi^jchjgjm^MfjhbiXciglm;iWjgm^kf_kf]mjWicibmQiUbjchjgifi
cZIh`b`fmY\c\fmYigj^hjgifjm`hkXcegbkdm\Ujgj]m^`gcmKkIef_kmYigmjWicibmaj9jgYjghiWimYkXhkcehbeXceglm<Z_jgfmE\gF
di^jm6`bQ`gi^jci3fifm_jVkbheheWefemakWhk^kHkdmifakfmS\H\f\fmjWicibi]md`Xd`a`Um^jfim^kdhkXebhkg]m9kgdhemYig
UiQfi^jc]mYihibajhmYigmc`c`bmSjgjdcigbiXciglmD`m_ZWg`hc`_kdimKkheXbkhkg]mjWicibifmficjhiWimihjmihSihimZhb`Xc`glmD`fk
dkgXehed]mjWicibmSMgjfmf\9`a`fm^`gcmKkIef_kmkgcbkaemiajmjWicibifmfiHjhidmYZ^`c`fkmihiXdifmdZf`hkg_kfmYigifi
bj^_kfkmSjcigbiXcigl
6`bQ`gi^jcm;Mfjbif_jmjWicibifmcjbjhhjgi]m<kkgi9m@ZfSgjai]mkfk^kakmVjm^kakhkg]mjWicibmXgkhkge]m<jHhia
dkgkghkgemVjmOckc\gd3\fmSMg\XmVjmMfjgihjgimihjmXjdihhjfbiXmVjm_MgcmcjbjhmQj_j9jmZ_kdhkfbeXceglmD`fhkgmjWicibF
MWgjcibifmYighjXcigihbjai]mjWicibifmMgS\chjfbjai]m^k^SefhkXcegehbkaemVjmficjhiWififmi^ihjXcigihbjaimZhkgkdmaegkhkF
fkYihigl
JZeV]_d`cd_ FXcbc[^
SYpWgephqnlpVk]epn/diadmq_olnKCjoiqjeohqnoWqlqinapmoholkomqx
prnApfpkne`PojkoiokomN
VrnFqlokqhn[okqYlqmioN
OrnAp_[gjkpYlgmipn]kiphn`Pomon`;nV]_dllpn[md\kpjegmgkigYlgmr
$omqkojnhokqiokomqnlpVk]ephqnVpYkghkpmkpnoYkoYlqmomohnpqln]kedhkpmgnhdldOdhkpmpn_pPgjgPr
T H D
AWicib_jm?kakhm;\Ujfhjbjhjg AWicib_jm*icjhiWim2jhiXcigbjm AWicibifm?k^SefhkXcegehbkae
ZWqlqiqj 2Wmolioj
MC_nZjflql`komq 0pkhnZWqlqiq Ap_[gjnZWqlqi LqkkolnLohlo\komq
Lqkk'koYlqmqkiofq :hdkkpmg
[[J
BZ V]_d`cd_ <bWcbUbc[^
SYpWgepnUomqkojn[mpJqhkomnUonlpVk]_dnqjOoko_q\nf]mdkpmgnOoUp\kp_gjgPr
Tr /diadmq_olqjnqkpjgjepjnf]jmpn]hdipn_pPipn]mpjgjepn[Cm`kojnV`_`hnpmlgYgjnjoeojkomqnjokom
]kpVqkqm3
Hr XpVk]ephqnCWmoliojnfp_gfgjpnqkqYhqjnUomqkomqneoWomkojeqmqjqPr
Dr D`]a\`a]6lon X,QMn (X`mhq_on Qflplqflqhn Mdmdid)6qjn [`jOokn Uomqkomqjqn qjOoko_omohn [`j`i`Peohq
]hdipn_pPipn]mpjgjgnlof\qlnoeqjqPrnZkeonollqWqjqPnVqk[qkomqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
?ehm[PTL
?ehm[PB[
EkYhZm[
1WgjfHim8k^eaefef
[PTLm?ehe 4d`h 1Wgjcbjf 1WgjfHi 2jfjhm*\9`akm4gkfe
bjYlSZVlcg
[[B
Tr :hdkn2jOofqnZWqlqinUonQkhCWmolqieohqn4okqYiokom
:hdkn2jOofqnZWqlqi
9Z V]_d`cd_26_XceA[U[ =\bU][\bc[^
:hdknCjOofqnoWqlqikonqk[qkqn]kpmphnpYpWgepnUomqkojnVqk[qkomqnqjOoko_qjqPrn:hdknCjOofqnoWqlqiqjnP]mdjkd
oWqlqinf`moOqjonpkgjipfg_kpnqk[qkqn;pkgYipkpmgnD`]a\`a]Nn[pPolonUVrnhp_jphkpmepjnpmpYlgmpmphndkpYlgWgjgP
Vqk[qkomqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
T H
$r Lqkk'nZWqlqin"mpfgn(TI7D) $<<r Lqkk'nZWqlqin"mpfgn(HEE8)
>hdMWgjcibm cjXdihkcefef]m UZg`fh`m Vjm iacjWj 4d`hmMfHjaimjWicibifmUZg`fh`mQ)hjmSjcigihbjai
YkWhemZhbkdm\Ujgjmidi^jmk^gehbkae] iKifmKkheXbkhkgefmYkXhkbkae]
4d`hmMfHjaimjWicibmVjmMWgjcibmcjXdihkcemihjmckF 4d`hmMfHjaimjWicibmd`g`bhkgefefmkKehbkaef_k
bkbhk^eHemd`gahkgef]miacjWjmYkWhemd`g`bhkgmZhkF MUjhmajdcMg\fmcjXVidmj_ihbjai]
gkdmd`g`hbkaemdkgkghkgemkhefbeXcegl 4d`hmMfHjaimd`g`bhkg]mdgjXmVjmKZH`dm^`Vkhkge
SiYimcjaiahjgifmSjhiXcigihbjaif_jm_jVhjcm_jacjWi
VjmcjXVidififmkgccegehbkaemdkgkghkgemkhefbeXcegl
D
Lqkk'nZWqlqinXoioknMpjdjdn(TI1D)
D`m@kf`f3_k]mZd`hmMfHjaimjWicibmihjmihSihimX`
bk__jhjgmY`h`fbkdck_eg
4d`hmMfHjaimjWicibi]mUZg`fh`mihdMWgjcibmKkF
WefkmSjhbjbiXmKZH`dhkgefmjWicibifimdkIakgl
D`mjWicib]miacjWjmYkWhe_egl
D`mZd`hhkg]mYkWebaeUmkfkZd`h`mZhkgkdmd`g`F
hkYihjHjWimSiYi]mSjgjdhim^jghjg_jmihdMWgjcibmZd`F
h`fkm YkWhem kfkm aefe9hkgem Q)hif_jm Vj^km _iWjg
MWgjcibmd`g`bhkgefkmYkWhem`^S`hkbkmaefe9hkge
Zhkgkdm_kmkKehkYihigl
4d`hmMfHjaimjWicibmd`g`bhkgefefmfjgjhjg_j
kKehkHkWe]m<ihh0mAWicibmDkdkfheWefHkmQkUeghkfkf
^Mfjcbjhidhjghjm_\Ujfhjfigl TIH89TIH1n CWmolqin _gkgjepn X`mhq_o6eohq
]hdknCjOofqnoWqlqinhdmdidnfp_gfgn>76lqmrnHEEI9
HETEnCWmolqin_gkgjepnqfonVdnfp_gnH8r8>T6on_`h9
fokiqYlqmrn
[[C
8ZeV]_d`cd_ HbQbc[^
SYpWgepn]hdknCjOofqnoWqlqiqnP]mdjkdnhgkpjnf]f_pkNnh`kl`moknUonoh]j]iqhnVpPgnjoeojkomnUomqkiqYlqmr
$omqkomqnqjOoko_q\n]hdknCjOofqnoWqlqiqjn[`j`i`Peohqn[omohkqkqWqnqkonqk[qkqne`Y`jOokomqjqPqnj]hlpkgn_om9
komon_pPpmphnlpVk]_dnlpipikp_gjgPr
m@M^_jfmdjfcjmSMKhjgmihjmcZIh`bm^kIeaef_km_jWiXidhidhjgmZhbkaemVjmjWicib_jfm^kgkghkfbkmibF
d)fhkgefefmkgcbkae
m2jfiXmkihj_jf]mKjdig_jdmkihjm^kIeaefkmSjKihbjai
=:=ASGnFZKZFGZB
mD\^\dmdjfchjg_jmZ^`fmkhkfhkgefefmkUkhbkae
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
m4d`hmMfHjaimjWicibmihjmKZH`dhkgemjgdjfm^kXckmSg`ImKkheXbkaefkmVjmQk^kckmQkUeghkbk]maZa^khF
hjXcigbjmZfhkgkmaZg`bh`h`dm_`^S`a`mihjmcjbjhmYjHjgihjgimdkUkf_egbkmVjmcZIh`b`mckfecbkm_\F
X\fHjai
M,GX,BZGnFZKZFGZB
mAWicib_jmkdgkfmMWgjfbjaififmMfmIhkfkmKedbkae
m-ZH`dmjWicibif_jmkihjhjgifmYihifKhjfbjai
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
m@M^_jfmdjfcjmSMKmVjmUZgmSjKibmdZX`hhkgemfj_jfi^hjmdk_efhkgefm_kmKkheXbkdmUZg`f_kmdkhbkae
Vjmdk_efhkgefmjWicibmajVi^jhjgififmkgcbkae
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
ZM:F:LQMnFZKZFGZB
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
[[=
QkhCWmolqieohqn4okqYiokom
7ZeV]_d`cd_ D`MacaWacd^
SYpWgephqnlpVk]epnX`mhq_on[ojokqjeonqkh]hdkbqkhCWmolqin]hdkdnfp_gfgnUonVdn]hdkkpmephqnCWmojOq
fp_gkpmgnUomqkiqYlqmrnXpVk]_dnqjOoko_q\nf]mdkpmgnOoUp\kp_gjgPr
TrnMgP9omhohnCWmojOqnfp_gfgjepnapj[qn_gkkpmepjnqlqVpmojnVqmneoj[on]kdYip_pnVpYkpigYlgm3n@djdj
joeojkomqnjokomn]kpVqkqm3
HrnTIID9TII?nCWmolqin_gkgnqkonHEED9HEE?nCWmolqin_gkgnpmpfgjepn]hdknfp_gfgnpPpkigYNnVpPgn]hdkkpmnhp9
\pjigYlgmrn@dnedmdidjnjoeojkomqnjokomn]kpVqkqm3
EkYhZmT
2WmolqinAgkg :hdkn=p_gfg MgPn2WmojOq Zmhohn2WmojOq
[[P
/diadmq_olqjnQkhnAgkkpmgjepjn@qmnZWqlqin._[dkpipfgcnMC_nAplgnLohlo\komq
/ZeV]_d`cd_26_XceA[U[ =\bU][\bc[^
Trn/diadmq_olqjnqkhn_gkkpmgjepNnqkhCWmolqin]hdkkpmgnq;qjeonhC_n_plgniohlo\komqjqjnV`_`hnCjoinlpYg9
ipfgjgjnjoeojkomqnjokomn]kpVqkqm3n@dnedmdiNnSlpl`mh6`jnapj[qn[Cm`Y`_konqk[qkqn]kpVqkqm3
HrnMC_n_plgniohlo\komqjqjn_pjgnfgmpnV`_`hnYoaqmkomeoneonYoaqmn_plgniohlo\komqjqjnVdkdjipfgjgj
joeojkomqnjokomn]kpVqkqm3
>ackfY`hm4gckdM^m>fMf\m?kcem<jdcjYi @M^m?kcem@eUm<jdcjYi
EkYhZmL
@M^m?kcem<jdcjYim:AgdjdN TT CT [lJRT
jQigm?kcem<jdcjYi
[G [LT Gl[RJ
:AgdjdNm
jQigm?kcem<jdcjYim:@eUN L GB PCL
:bjYlSZVlcgN
[TR
4`j`i`PeojnZWqlqin._[dkpipkpmg
XpYgipkgnQkhCWmolqi
*\9`a`m kUm Vjm _kWefedm ^jghjXibm Yigibhjgif_j]
ihdMWgjcib Zd`h`mY`h`fbk^kfm^km_kmYighjXcigihbiX
aefe9m `^S`hkbkaem ^kIkfm ihdMWgjcibm Zd`hhkgef_kdi
MWgjfHihjgi]mbjgdjU0mihdMWgjcibmZd`hhkgefkmS\f\YigF
hidmckXebkd]mYM^hjHjmMWgjfHihjgim9egakcmjXichiWif_jf
^kgkghkf_egbkdm Vjm Zfhkgkm _kQkm ficjhidhim MWgjfib
ZhkfkWemakWhkbkdmkbkHe^hkm^kIehkfmYigm`^S`hkbkF
_egl
D`gakm@kgkHkYj^mEkXhedmEkXebkhem>hdMWgjcibm4d`h`
AplgkgnQkhCWmolqin@Ck[on:hdkkpmgnUon!pjfq_]jkd
QkhCWmolqin:hdkkpmg
@egakhmdjaib_j]mZd`h`mY`h`fbk^kfmdM^mVjmdM^
khcem^jghjXibmYigibhjgif_jmY`h`fkfm^Zda`hmkihjhjgif
KZH`dhkgefkm ihdMWgjcibm QiUbjchjgifim SMc\gjYihbjd
kbkHe^hkm^kcehemihdMWgjcibmYMhSjmZd`h`m:?>D4NmVj
Ikfai^Zfh`mihdMWgjcibmZd`h`m:">4NmkKehbkdck_eglmD`
Zd`hhkg_kmMWgjfibmSMgjfmMWgjfHihjgifmQjgmc\gh\mSiF
_jghjgim_jVhjcmckgk9ef_kfmdkgXehkfbkdck_egl
AgU`g`bm jfdk^km><@DmCJlm?ehm?>D4
+ZeV]_d`cd_ HbQbc[^
XpYgipkgnqkhCWmolqind_[dkpipfgnqkon_plgkgnqkhCWmolqinVCk[on]hdkkpmgn(AQ@:)nUon\pjfq_]jkdnqkhCWmolqi
]hdkkpmgn(!Q:)jgjnp;gkipnjoeojkomqnjokomeqm3n@dnd_[dkpipkpmkpnapj[qnf]mdjkpmpn;CP`inVdkdjidYldm3
ZWqlqieonJgmfplnoYqlkqWqnqkhofqjeojn_]kpn;ghpmphne`Y`jOokomqjqPqnpYpWgephqnj]hlpkgnpkpjpn_pPgjgPr
[T[
)ZeV]_d`cd_ HbQbc[^
TIH1n_gkgjepnqkhniohlo\komeon]hdldkpjneomfkomnpYpWgepnUomqkiqYlqmrn@dneomfkomkonqk[qkqn]kpmphnpYpWgep
Uomqkojnf]mdkpmgnOoUp\kp_gjgPrn/oUp\kpmgjgPgn]kdYldmdmhojnhqlpVgjgPgjnf]jdjephqn=CPk`hnVCk`i`jeoj
_pmpmkpjpVqkqmfqjqPr
[PTCm?ehem>hdm<jdcjIm"gZSgkbe
'jaib <`aidi
[TT
X`mhq_o6eonQkhCWmolqiqjn4okqYqin=`moOq
J$ZeV]_d`cd_ D`MacaWacd^
SYpWgephqnlpmqafoknf`moOqnqjOoko_q\nqkhCWmolqinpkpjgjepnio_epjpn[okojn[okqYiokomqnVokqmko_omoh
l`mkomqjon[Cmon[md\kpjegmgjgPrnZkeonollqWqjqPnVdk[dkpmgn_]mdikp_gjgPr
<rn0o_ol9qnQkiq_o TIHD
>hdMWgjcibifmBm^ehkmKedkgehbkae
@\K\dm dM^hjgm iKifm ^kcehem YMhSjm Zd`hhkgefef
kKehbkae
<<rn0o_ol9qnQkiq_o TIH? Sjp_pfp6jgjnMpVdk`
m>hdMWgjcibifmJm^ehkmif_igihbjai m>hdMWgjcibifmUZg`fh`mVjmIkgkaeUmZhbkae
m>dMWgjcibmIgZSgkbhkgefefmSjhiXcigihbjai
TIH8 LppmqJnXoYhqkplgjpnKpqmnMpjdjn
m>hdMWgjcibifma\gjaififmJm^eh]mdM^mZd`hhkgef_k
iajmLm^ehmZhkgkdmYjhighjfbjai
m>hdMWgjcibmZd`hhkgefefmXjQigmVjmdkakYkmS\fF
_\Uh\]mXjQigmVjmdkakYkm^kcehe]mdM^mS\f_\Uh\mVj
dM^m^kcehemZd`hhkgemZhkgkdm_\Ujfhjfbjai
<rnLqkk'nZWqlqin"mpfg TIDI
m>hdMWgjcibifmdM^mZd`hhkgef_km_kmJm^ehmZhbkae
m %Km aefe9hem dM^m Zd`hhkgef_km aefe9m ak^eaefef
YjXjmKedkgehbkae TI8> mDighjXcigihbiXmaefe9m`^S`hkbkaefefmYkXhkbkae
Lqkk'nZWqlqinXoioknMpjdjd TI1D
m>hdMWgjcibifm=m^ehkmKedkgehbkaemVjmZgckZd`hF
hkgef]mcjbjhmjWicibifmidifHimYkakbkWefemZh`XF
c`gbkae
m >hdMWgjcibjm _k^khem jfm kUm Lm ^ehhedm MWgjcib
VjgjfmSjfjh]mbjahjdimVjmcjdfidmMWgjcibmd`F
g`bhkgefefmihdMWgjcibmKkceaemkhcef_km^jgmkhbkae mEjbjhmjWicibm_j^ibififmihdMWgjcibmZhkgkdm_jF
WiXcigihbjai
m *\9`a`fm kUm Vjm _kWefedm Zh_`W`m ^jghjg_j] TI>D m >hdMWgjcibif]m BF[Gm ^kXhkgef_kdim KZH`dhkgef
dM^hjgm Sg`Ihkf_egehkgkdm bjgdjU0m _`g`b_k jWicibifimdkIakbkae
Zhkfm dM^hjg_jm ihdMWgjcibm YMhSjm Zd`hhkgem Vj m>hdMWgjcibif]mdeUmVjmjgdjdmc\bmVkckf_kXhkg
Y`fhkgkmYkWhemIkfai^ZfhkgefmSg`IhkXcegbkfef iKifmUZg`fh`mVjm_jVhjcmZd`hhkgef_kmIkgkaeUmZhF
b\bd\fmZhbk_eWem^jghjg_jmiajm^kcehemihdMWgjF bkae
cibmYMhSjmZd`hhkgefefmd`g`hbkae
m@\K\dm^jghjXibmYigibhjgif_jdimMWgjfHihjgifm=
$rnLqkk'nZWqlqin"mpfg TII8 ^ehhedmUZg`fh`mjWicib_jfm^kgkghkfkYihbjhjgimiKif
m JFBm ^kXm Zd`hm MfHjaim jWicibififm ihdMWgjcib ckXebkhe]m?>D4mVjmIkfai^Zfh`mZd`hmaiacjbifF
Y\f^jaifjmkhefbkae _jfm^kgkghkfehbkae
>hdMWgjcibifmdjaifciaiUm=m^ehedmUZg`fh`mjWicib AWicibFMWgjcibifmMWgjcbjfmbjgdjUhimZhbkdF
Zhkgkdm`^S`hkfbkae ckfmKedkgeheImMWgjfHimbjgdjUhim_`g`bkmSjcigihF
m$U`fmVk_j_jmUZg`fh`mjWicibifm[=m^kXemdkIF bjai
ak^kHkdmXjdih_jm_\Ujfhjfbjai
mO^gemk^gemSjKjfm!ihdZd`hmihjm!ZgckZd`hmiYkgjF
TII1 hjgififm^jgifjm!ihdMWgjcibmZd`h`miYkgjaififmSjF
cigihbjai
m>hdMWgjcibifm=m^ehhedmZd`hhkg_kfmZh`XbkaemVj
$<<rnLqkk'nZWqlqin"mpfg djaifciaiUmjWicibm^kIehbkae
mZg`fh`mjWicibifm[Tm^ehkmKedkgehbkaemiKifmKkF HEE8
heXbkhkgkmYkXhkfbkae mLRm<kgcmTR[TBT=CfZ3h`m@5@mihjmTTTmak^ehe
dkf`f_km_jWiXidhidhjgm^kIehkgkd]mihdZd`hmVjmZgF
HETH ckZd`hmk^gehbeXceglZg`fh`mjWicibmdk_jbjhimZhkF
gkd:GGGN[Tm^ehkmKedkgehbeXceg
[TL
Hrn:mlpCWmolqieohqn4okqYiokom
JJZeV]_d`cd_ ATUT`acd^e
TrnApYpegWgjgPnVCk[oeon]mlpCWmolqinfoUq_ofqjeonapj[qn]hdknl`mkomqjqjnVdkdjedWdjdnpmpYlgmg\nokeo
ollqWqjqPnVqk[qkomqnpmhpepYkpmgjgPkpn\p_kpYgjgPr
HrnLofkohnkqfokomqjqjn;oYqlkqkqWqjqjnpmlipfgjepnapj[qnjoeojkomnm]kn]_jpigYn]kpVqkqm3nK`Y`jOokomqjqPq
pmhpepYkpmgjgPkpn\p_kpYgjgPr
:hdknX`mkomq
,jfm#iajai Ofk_Zh`m>bkbm5kciIm#iajai Ofk_Zh`m#iajai 8Za^khmDihibhjgm#iajai
JBZeV]_d`cd_ D`MacaWacd^
SYpWgephqnlpVk]epnOdiadmq_olqjnqkhn_gkkpmgjepjnVpYkp_pmphn]mlpCWmolqikonqk[qkqnfp_gfpknUomqkomnVd9
kdjiphlpegmrnXpVk]_dnqjOoko_q\nf]mdkpmgn_pjglkp_gjgPrn
TrnAgkkpmnq;qjeonCWmojOqnfp_gfgjepnf`mohkqnVqmnpmlgYn[Cm`kiohloeqmrn@djdjnjoeojkomqnjokomn]kpVqkqm3
Hrn:hdknfp_gfgjgjnpmlipfgjepnap_gmfoUomnhqYqkomnUonCPoknhdmdikpmgjnhplhgkpmgn]kidYnidedm3nSmpY9
lgmgjgPr
EkYhZmG
2WmolqinAgkg :hdkn=p_gfg MgPn2WmojOq Zmhohn2WmojOq
[PTLF[PTG TL Dihifbi^Zg Dihifbi^Zg
[PLLF[PLG CT TlTLC ClLTB
[PGLF[PGG =R BlRLR TTl=CB
[PJLF[PJG [RR Bl=LB TGlJ=G
[PBLF[PBG T[C TBlGB= CJlP[B
[PCLF[PCG C[= PBlGRJ TRClPBB
[P=LF[P=G [l[PR TT[lLCC LR=lL==
[PPLF[PPG Tl[BC GJGlPBJ BTLlJ[=
TRRLFTRRG TlCTC ==[lJG[ [lRJPlPB[
TR[LFTR[G [BlPBP TlBCRl[[= TlBRClP=P
bjYlSZVlcg
6`bQ`gi^jcifmihkfmj_ih_iWimS\fhjg_jmE\gdi^j3_jmTLmhiajmY`h`f`^Zg_`lm[PL=3jmSjhif_iWif_jmiajm^\dajdmMWF
gjcbjfmZd`h`mbjU`fhkgefefmkgcbkaemVjmOVg`Ik3_kmMWgjfibmSMgjfmMWgjcbjfhjgifmiaciQ_kbmj_ihbjai^hjmhiajhjgif
ak^eaemB=3jmKedbeXcegl
6`bQ`gi^jcm;MfjbimYZ^`fHkmSjfjhmZgckMWgjcib_j]mSjfjhmhiajhjg_jfmYkXdkmhiajmc\ghjgim_jmY`h`fbkdck^_el
D`fhkgmMUjhmhiajhjg]mOfk_Zh`mhiajhjgi]m9jfmhiajhjgi]mOfk_Zh`mMWgjcbjfmhiajhjgimVjmOfk_Zh`mS\UjhmakfkchkgmhiajhjF
gi^_il
D`m_Mfjb_j]maMU\mj_ihjfmKkYkhkgefmaZf`H`mZhkgkdmbjahjdimVjmcjdfidmZgckMWgjcib_j]m4abkfhembigkaemihj
de^kahkfkbk^kHkdmYigmSjhiXbjmdk^_j_ihbiXciglmD`S\fmbjahjdimVjmcjdfidmMWgjcibmZd`hhkgemjgdjdmcjdfidmMWgjcib
Zd`hhkge]mdeUmcjdfidmMWgjcibmZd`hhkge]mciHkgjcmVjmc`giUbmMWgjcibimZd`hhkgemSiYimKjXichjfbiXcigl
<jahjdmZd`hhkgefkmS\f\b\U_jmKZdmY\^\dmMfjbmVjgihbjdcj_iglm5jbm_jVhjcmajdcMg\f_jmQjbm_jmMUjhmajdF
cMg_jmkgkmjhjbkfkm_`^`hkfmiQci^kK]mbjahjdmZd`hhkgefem\hdjbiUmiKifmVkUSjKihbjUmd`g`bhkgmQ)hifjmSjcigbiXcigl
[TG
J9ZeV]_d`cd_ HbQbc[^
SYpWgepNnOdiadmq_olqjnqkhn_gkkpmgjepnkqfokomeon]hdldkpjneomfkomnUomqkiqYlqmrn@dneomfkomkonqk[qkqnpYp9
Wgephqnf]mdkpmgn_pjglkp_gjgPrnApjglkpmgjgPgn]kdYldmdmhojnhqlpVgjgPgjnf]jdjephqn=CPk`h`nhdkkpjpVqkqm9
fqjqPr
[PTCm?ehef_km#iajhjg_jm4d`c`hkfm;jgahjg
ibfkacid #kYZgkc`Vkg
[TJ
:mlpCWmolqiqjn4okqYqin=`moOq
J8ZeV]_d`cd_ D`MacaWacd^
SYpWgephqnlpmqafoknf`moOqnqjOoko_omohn]mlpCWmolqiqjn[okqYqiqnaphhgjepn;ghpmgikpmepnVdkdjdjdPrn
<rn0o_ol9qnQkiq_o TIHD
m8`hckfimk_efefmhiaj^jmKjVgihbjai
TIH? <<rn0o_ol9qnQkiq_o
m4gckZd`hmVjmhiajhjgifmk^gemmYMh\bmQ)hifjmSjciF
gihbjai]mMWgjcibma\gjaififmLLm^ehmZhbkaem:Cm^ehF
<<<rn0o_ol9qnQkiq_o _kfmBm^ehkmif_igihbjaiN
TIH7 m1WgjcbjfmZd`hhkgefefmMWgjcibma\gjhjgififmJ
m#iajhjgifm^jfi_jfm_\UjfhjfbjaimVjmYjhighi
bjgdjUhjg_jmKZWkhcehbkae ^ehkmKedkgehbkae
m1WgjcbjfmZd`hhkgemVjm_iWjgmbjahjdmZd`hhkF m@eUmhiajhjgififmckbmaefe9hemQ)hjmSjcigihbjai
gefefmYjhighimbjgdjUhjg_jmcZIhkfbkae
m2\f_\Uh\mZgckZd`hhkg_kmdkgbkmjWicibifm^kF TIH8 LppmqJnXoYhqkplgjpnKpqmnMpjdj
Iehbkae m4gckMWgjcibmZd`hhkgefefmhiajhjg]mZgckZd`hhkg]
ihdMWgjcbjfmZd`hhkgemVjmdM^mihdMWgjcbjfmZd`hF
hkgemZhkgkdmaefe9hkf_egehbkae
<$rnLqkk'nZWqlqin"mpfg TI?I mEjdfid]mbjahjdmVjm`UbkfhedmZd`hhkgefefmkKehF
m#iajm_jgamdZf`hkgefefmGm^ehhedmcjXdihkckmSMgj bkae
_\Ujfhjfbjai
TI1D Lqkk'nZWqlqinXoioknMpjdjd
m4gckMWgjcibifmKjXichimIgZSgkbhkgm`^S`hk^kf
hiajhjg_jfmbj^_kfkmSjhbjaim
1Wgjfibma\gjhjgifif]m`^S`hkfkfmIgZSgkbef
<<<rnLqkk'nZWqlqin"mpfg MUjhhiWifjmSMgj]mDkdkfhedKkmcjaIicmj_ihbjaim
TIIE m*\9`a`mkUmVjm_kWefedmZhkfm^jghjg_j]mZgckMWF
m4gckMWgjcibifm[TF[Cm^kXmkgkaef_kdimMWgjfF
HihjgifmSjfjh]mbjahjdimVjmcjdfidmQjgmc\gh\mjWiF gjcibifmSjfjh]mbjahjdimVjmcjdfidmMWgjcibmIgZSF
cibhjgifimdkIakbkae gkbhkgefemYigm^Mfjcibmkhcef_km`^S`hk^kfmKZd
m4gckMWgjcibm_jgjHjaififmidimdk_jbjmZhbkae IgZSgkbhemhiajhjgifmd`g`hbkae
m 7lm dk_jbjm ZgckMWgjcibifm [TF[Gm ^kXm kgkae
MWgjfHihjgjmVjgihjfmjWicibifmc\b\f\mdkIakF
bkae TII8 $rnLqkk'nZWqlqin"mpfg
m77lmdk_jbjmZgckMWgjcibifm[JF[Cm^kXmkgkae m<jahjdimVjmcjdfidmjWicib_jmjdhjbhim:bZ_\hjgN
MWgjfHihjgjmVjgihjfmSjfjh]mbjahjdimVjmcjdfid jWicibjmYkXhkfbkae
jWicibifmc\b\f\mdkIakbkaemVjmY`m_jVgjmZgF 4gckMWgjcibjm Sicbjdm iacj^jfm MWgjfHihjgif]
ckMWgjcibmd`g`bhkgefkmhiajmk_efefmVjgihbjai QkUeghedmaefe9emjWicibim:Plmaefe9NmaZf`f_kmihSimVj
mDjhighimIgZSgkbkmkWeghedmVjgjfmZd`hhkgkmY` iacjdhjgifjmSMgj]mSjfjhm^km_kmbjahjdmjWicibi
IgZSgkbefmk_efefm:9jfmhiajai]mMWgjcbjfmhiajai VjgjfmIgZSgkbhkgkm^Mfhjf_igihbjai
VYlNmVjgihbjaim
4gckMWgjcibifmGm^ehkmKedkgehbkae HEE7
LRm<kgcmTR[TBT=CfZ3h`m@5@m>hjmUZg`fh`
HETH jWicibmdk_jbjhimZhkgkdm:GGGN[Tm^ehk
KedkgehbeXceg
[TB
DrnA`hfohCWmolqieohqn4okqYiokom
%fiVjgaicjmd`g`h`X`fkmVjg_iWibiUmMfjbimYjhigcbjdmiacjgiblm?kgebmcj_Yighjgifmdeaegmdkh_eWefkmX\IQj
^Zdc`glmD\c\fmiXhjgibiU_jmZh_`W`mSiYimjWicib_jmVjmd`g`hkfm\fiVjgaicj_jmdMdh\mcj_Yighjghjm^\g\bjdmdjaif
dkgkgebeU_egl
<`ack9km@jbkhmOEOE%'@
8M^hjVmVjm;jbjKhjg]mOckc\gdmalLPT
J7ZeV]_d`cd_ D`MacaWacd^
/diadmq_olqjnhdmdkipfgjepjn[`j`i`Pon`khoiqPeohqn_`hfohCWmolqionqkqYhqjnfp_gfpknUomqkomqjn[Cf9
lomqkeqWqnlpVk]_dnqjOoko_omohnVdnhpeoioeonio_epjpn[okojn[okqYqiqneoWomkojeqmqjqPr
EkYhZmJ
:lbjYlSZVlcgackcajadiiackciacidhjglQcbN
6`bQ`gi^jc]m4abkfhem;jVhjci+f_jfmdkhbkm^\dajdMWgjcibmd`g`bhkgemZhkfmbj_gjajhjgimQjbjfmdkIkcegdjf
;kg\h9\f`fkm_jacjdcjmY`h`fkgkdmYigmXkfamVjgbiXciglmOfHkdm;kg\h9`f`f]mcZIh`b_kdimdMdh\m_jWiXidhidhjgjmMfH\
Zh`ImQkhdem^jfimgjibjmQkUeghkbkdm^jgifj]mSjhiXbjhjgjmcjIdiaiUmdkhbk^emcjgHiQmjcbiXciglm>hdm_Mfjbhjg_j]mVkg
Zhkfm^\dajdMWgjcibmaiacjbimdZg`f`gdjfm[PLR3hkg_kfmiciYkgjfm^\dajdMWgjcibmkhkfef_kmdMdh\m_jWiXidhidhjgm^kF
IehbeXcegl
;kg\h9\f`f`fmOVg`Ik3_kdim\fiVjgaicjhjgm_\Uj^if_jmSjhiXbjaifimakWhkbkdmiKifm>aViKgjhimOhYjgcm<khHQjm:<khXN
E\gdi^j3^jm_kVjcmj_ihjgjdm:[PLTNmdjf_iaif_jfmgkIZgmQkUeghkbkaemiacjfbiXciglmD`f`fm^kfef_km<ihh0mAWicibmDkF
dkfheWe]m;kg\h9`f`fm;iVkfe]m9kd\hcjmbjHhiahjgi]m9kd\hcjmgjiahjgif_jfm_jmgj9ZgbmdZf`a`f_kmckakgehkgmiacjfbiXcigl
<khHQj]mSjhjfmgkIZghkgem_jWjghjf_igjgjdmQkUeghk_eWemgkIZg`f`mDkdkfhkgm@`g`h`fkma`fb`Xc`gl
E\gdi^j3fifm^\dajdMWgjcibmckgiQif_jm_Mf\bmfZdckaemak^ehkYihjHjdmZhk^hkg_kfmYigi]mYjhdim_jmjfmMfjbhiai
[PLLm^ehef_kmSjgKjdhjXcigihjfm!%fiVjgaicjm'j9Zgb`m^km_kmZmUkbkfdimk_e^hkm!;kg\h9\f`fm'j9Zgb`_`glmD`mgjF
9Zgb]m_MfjbifmjfmMfjbhim^\dajdMWgjcibmd`g`b`mZhkfm;kg\h9\f`f`fmdkIkcehkgkdm^jgifjm>ackfY`hm%fiVjgaicjF
aififmd`g`hbkae^hkmaZf`KhkfbeXceglmD`ma\gjKcjm;kg\h9\f`f`fmMWgjcibm\^jaimdk_gZa`mY\^\dmZgkf_kmcka9i^j
j_ihbiXmVjmYigmdeabem^`gcm_eXef_kfmSjcigihbjdma`gjci^hjm^jfimMWgjcibm\^jhjgififmiaciQ_kbefkmSi_ihbiXcigl
%fiVjgaicjmgj9Zgb`]mE\gdi^j3_jm\fiVjgaicjfifmYihibajhmdiXihiWifimdkUkfbkaef_km_Mf\bmfZdckaemZhkgkdmdkY`h
j_ihbjdcj_iglmD`mgj9Zgb`f]mbj^_kfkmSjcig_iWim\fiVjgaicjmbZ_jhi^hjmE\gdm\fiVjgaicjaifim_\f^kfefmYigKZdmSjF
hiXbiXm\hdjaif_jdim\fiVjgaicjhjghjmk^fem_\Uj^jmckXe_eWem_kmi__ikmj_ihbjdcj_igl
[TC
J3Z V]_d`cd_ HbQbc[^
SYpWgepn/diadmq_olnKCjoiqjeon_`hfohCWmolqieonmoJ]mipned_dkpjnqalq_pOgjnjoeojkomqjeojnVp9
PgkpmgnUomqkiqYlqmrn@dnjoeojkomNnmoJ]min_p\gkipfp_egn_`hfohCWmolqieonapj[qn]kdifdPnf]jd;kpmgne]9
WdmpVqkqmeq3n@okqmkoeqWqjqPn]kpfgnf]jd;kpmgnj]hlpkgn_omkomon_pPgjgPr
Foeoj =]jd;
;kg\h9\f`f_kdimYkUemMWgjcibm\^jhjgififmH`bQ`gi^jc
%fiVjgaicjhjgif]mcZIh`b`mk^_efhkcbkmVjmSjhiXcigbj
E\gdi^j3aififmKZdm^Mfh\mifdehkIhkgefkmk^kdm`^_`gkbkF
bkaemVjm^kIehkfmifdehkIhkgkmdk^ecaeUmdkhbkaemVj^kmZfF SMgjVifim^jgifjmSjcigjbjbjaimVjmdjf_ifimcZIh`b_kf
hkgemjhjXcigbjai aZ^`chkbkae
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
Ockbkhkg_kmYihibajhm^jcjghihidcjfmKZdmdiXiajhmYkWhkfF llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
cehkgefmMfjbmdkUkfbkae llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
OgkXcegbk]mifHjhjbj]m_jfj^mVjmSMUhjbm^MfcjbmVj llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
cjdfidhjgif_jfm^jcjgimdk_kgm^kgkghkfehbkbkae llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
;\X\fbj]maZgS`hkbk]mckgceXbkm^Mfcjbhjgififm`^F
;jgam bjcZ_`f`fm jadibjaim _jgaif]m kfaidhZIj_id
S`hkfbkbkaemY`m_`g`b`fmYihibajhmKkheXbkhkgemZh`bF
dickImYihSiaimXjdhif_jmVjgihbjai
a`Umjcdihjbjai
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
E\gdKjmYihibajhm^k^efhkgefmkUmZhbkae]m^k^ebhkfkf
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
KkheXbkhkgefmYigYigififmdZI^kaemZhbkaem^km_kmdMc\mKjF
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
VigihjgmZhbkae
llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
1Wgjcibm\^jhjgififmKZW`f`f]m_eXkge_kdimiXmVjmihiXdiF llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
hjgififmKZdh`W`m^\U\f_jfm;kg\h9\f`f_kdimSMgjVhjgifi llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
idifHim_jgjHj_jmak^bkaemVjmd`g`bmihjmYkWhkgefefmUk^e9 llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
Zhbkae llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
SYpWgepnUomqkojnh]jdkpmgnpmpYlgmpmphnepapnf]jmpn(frnTD>)nqYkojoOohn]kpjnX`mhq_o6eon2WmoliojnAo9
lqYlqmiojqjn4okqYqiqnh]jdfdjpn_CjokqhnVqmn\pjoknq;qjnapPgmkghn_p\gjgPr
AcdifhidmYkakbkdhkge
8efe9ckf]miacjdhimYjXmMWgjfHimajKihigl
5jgmYigmMWgjfHi]mkXkWe_kmVjgihjfmdZf`hkg_kfmYigifimkgkXcegkgkdmIkfjhjmQkUeghkfegl
[l 4d`hmMfHjaifjmMWgjcbjfm^jciXcigjfmd`g`bhkgefmSjhiXibi
Tl >hdMWgjcibjmMWgjcbjfm^jciXcigjfmd`g`bhkgefmSjhiXibi
Ll 4gckMWgjcibjmMWgjcbjfm^jciXcigjfmd`g`bhkgefmSjhiXibi
Gl <jahjdimVjmcjdfidmjWicibjmMWgjcbjfm^jciXcigjfmd`g`bhkgefmSjhiXibi
Jl 1Wgjcbjfm^jciXcigjfmd`g`bhkgefmSjfjhmficjhidhjgi
[T=
A`hfohCWmolqiqjn4okqYqin=`moOq
SYpWgephqnlpmqafoknf`moOqnqjOoko_omohn/diadmq_olnKCjoiqjeon_`hfohCWmolqiqjn[okqYqiqnaphhgjep
;ghpmgikpmepnVdkdjdjdPr
TIH7 [PTJmckgiQhimEkhibkcfkbjmihjm\fiVjgaicjhjgif
YihibajhmVjmi_kgimMUjgdhiWimV`gS`hkf_el
[PLLm%fiVjgaicjm'j9Zgb`mDkcem\fiVjgaicjF TIDD EjVQi_FimEj_giakcm@kf`f`mihjmkKehkfmihkQi^kc
hjgif_jdim^MfjcibmVjmjWicibFMWgjcibmXjdhifi 9kd\hcjhjgi]m>ahkbmEjcdidhjgimAfacic\a\mZhkgkd
\hdjbiUjmSjcigbjdmkbkHe^hkm^kIeh_el _\Ujfhjf_il
'j9ZgbmdkIakbef_km;kg\h9\f`fmdkIkceh_el
<ihh0mAWicibmDkdkfheWe]m>ackfY`hm%fiVjgaicjaifi
d`gbkdhkmSMgjVhjf_igih_il
%fiVjgaicj]m9kd\hcj]mgjdcMg]m_jdkfmSiYimcjgibF
hjgifmd`hhkfehbkaemYjfibajf_il
TI?8 [PGBmgj9Zgb`^hk]m^\dajdMWgjcibmd`g`bhkF
gef_kmdjf_imdjf_ifim^Mfjcbjmkfhk^eXemjSjF
bjfmZh_`mVjm\fiVjgaicj_jmMfjbhimSjhiXbjhjg
dk^_j_ih_il
2jfjhmYigm!%fiVjgaicjm@kf`f`mKedkgeh_emVj
\fiVjgaicjm dkVgkbe]m ckfebhkfkgkdm Yihibm cjF
bjhifjmZc`gc`h_`l
D`mdkf`fhkm\fiVjgaicjhjgmMUjgdhidmdkUkf_el
D`mMUjgdhid]mTCm<k^eam[PBRm_kgYjai^hjmdjF
aifci^jm`Wgk_el
%fiVjgaicjhjgmd`g`bakhhkXbk^kmYkXhk_el
%hdj_jm\fiVjgaicjmak^eaef_kmkgceXmZh_`l
[PB[mOfk^kakae3f_kmihdmdjU]m\fiVjgaicjhjg TI8T
ihjmihSihimbk__jm^jgmkh_elm%fiVjgaicjhjgifmkfHkd
_jVhjcmjhi^hjmVjmdkf`fhkmd`g`hkYihjHjWimYjhigF
cih_il TI1D [PCLmckgiQmVjm[CJRmak^ehem@kf`fmihjm\fiVjgF
aicjhjgifmSMgjVimk^gefcehemYigmXjdih_jmYjhigcih_il
[PCL3cjmOfk^kak3_km^kIehkfm_jWiXidhidhj]m\fiF
Vjgaicjm MUjgdhiWifjm aefeghkbkhkgm Sjcigih_il
OfHkd]m>ackfY`hmVjmOfdkgkm%fiVjgaicjhjgifif
Ofk^kakm <kQdjbjaifjm kKceWem _kVkhkghk
MUjgdhiWjmcjgam_\Xjfmbk__jhjgmiIckhmj_ih_il
[P=R3him^ehhkg_km_\f^kmVjmE\gdi^j3_jm^kXkF TI>E
fkfm_jWiXibjmIkgkhjhmZhkgkdm^\dajdMWgjcib
khkfef_kmYigckdebmQiUbjchjgmVjgbiXmZhkfmVkF
de9hkgkmkicm\fiVjgaicjhjgmkKehbk^kmYkXhkf_el TI>T [P=[mckgiQmVjmTJGCmak^ehem?\dajdMWgjcib
@kf`f`mihjmdkhicjmVjmVjgibhihiWimkgccegbkd]m\fiF
Vjgaicjhjgm kgkaem dZZg_ifka^Zf`m akWhkbkd
jWicibFMWgjcib]mkgkXcegbk]mYihibmk_kbem^jciXF
cigbjmdZf`hkgef_kmIhkfhkgm^kIeIm`^S`hkbkd
kbkKhkf_elm D`m dkf`fm ihjm c\bm Y`m SMgjVhjg]
?\dajdm1Wgjcibm@`g`h`m:?1@NfkmVjgih_il
[TP
J)ZeV]_d`cd_ ?b\][Ubc[^e
/diadmq_olqjnqkhn_gkkpmgjepjnqlqVpmojn_`hfohCWmolqionV`_`hnCjoinUomqkiofqjonmpWiojndkdfkpmpfg
pkpjepnX`mhn`jqUomfqlokomqjqjnqflojqkojne`Po_on[okoioiofqjqjnjoeojkomqjqnfgjgJgjgPepnlpmlgYgjgPrn.kpY9
lgWgjgPnf]jd;kpmgnpYpWgephqnj]hlpkgn_omkomon_pPgjgPr
X`mhn,jqUomfqlokomqjqjnK`j_pn=gmpkpipfgjephqnAomq
k]m YiF
k m Y ig m aegkhkb Vj
;\f^km\fiVjgaicjhjF DkXd khkgm %K\fH\m _j
KkheXb ckF Wjghjf_igbj
gififmkdk_jbidmaegkF hibajhm m ! ! Zg MWgjcibm \^j
ai]m `h`ahkgkF
f hk g e f k a efk
hkbkaef_km ihdm JRR3 Y` kgjf gkaemYih_igimVj
_jm^jgmkhbkdmMfjbF e f _ k m Yihibm \m khefkF ^ehkgem_iddkcj
mbkdkhjmakF
b
kaem MhK fk mkhefkgkdm^kF
hi_iglm TRRCm OW`acZa kdckgehb bkdck_eglmD` Iehbkdck_eglmTR
RCmOW`acZa
gkdm^ k I eh idim fiF
\
k^emhiacjaif_j]m>ackfF
m ih d m J RR3_jm kdckF hiacjaif_jm ihd
m JRRm iKif_j
Y`hm%fiVjgaicjaimGC[l SMg j gmkhb ^jgm khkfm cjdm
biUm^j fc] \fiVjgaicjF
aegk_km^jgmkhbeXcegl Vjgaicj aegk_kmDihdj biU]m LPRlm ae
gk_kdim>ackf
J lm
_egmGC _km4;E%l Y`h Ejdfidm%
fiVjgaicjai_igl
F
egk
G=Tlma
>E%m2\b\Xa`^`m<kdifjm,kd\hcjaimMWgjfHihjgim`^S`hkbkhem_jgacjm:[PG[N @kgam@k9dkam%fiVjgaicjaimMWgjfHihjgimYigmajbifjg_jm:TRRPN
[LR
B$Z V]_d`cd_26_XceA[U[ 'bQ[\cb`bc[^
SYpWgephqnYoip_gnqjOoko_q\n/diadmq_olnKCjoiqjeonoWqlqinpkpjgjepnokeonoeqkojnhpPpjgikpmpnqkqY9
hqjnpJqYNn\]flomNn_pPgnUVrnapPgmkp_gjgPrn0pPgmkpegWgjgPn;pkgYipkpmgn]hdkn\pj]fdjepnfom[qko_qjqPr
?jfimdkf`f]mc\U\d
Vjm^Mfjcbjhidhjghj 1WgjcibmYighiWi
^jfimYigm`h`akhmjWicib akWhkfbeXmVj
AWicib]mYihibajh VjmMWgjcibmaiacjbi \hdjfifmQjgmckgk9ef_k
cjbjhhjgj Zh`Xc`g`hb`Xc`gl ZgckdmIgZSgkbhkg
_k^kf_egehbeXcegl `^S`hkbk^kmdZfb`XF
c`gl
-Zdmak^e_km^kF
YkfHem`UbkfmSjcigihF ;if0mjWicibm^jgifj
biXmVjm^`gcm_eXefk bihh0mVjmhkidmjWicib
MWgjfHimSMf_jgihbiXF cjgHiQmj_ihbiXcigl
cigl
6`bQ`gi^jcm;Mfjbif_j
AWicibmOhkfef_kdi
@kUkfebhkg
AWicib_jm^k^Sef]
`h`akh]m^kXkbakhmVj ?jfimihd]mZgckmVjm^\dF
9egakcmjXichiWifjm_k^khe ajdMWgjcibmd`g`bhkge
YigmSjhiXbjmQj_j9hjfF d`g`hb`Xc`gl
biXcigl
[L[
BJZ V]_d`cd_ D`MacaWacd^
@d[`j`jn[oj;komqnUon[okoOoWqjnCWmoliojkomqn]kpmphnSlpl`mh6oNn/diadmq_olnKCjoiqjeohqnoWqlqi
hpPpjgikpmg_kpnqk[qkqned_[dnUone`Y`jOokomqjqPqnpjkplpjnVqmniohld\n_pPgjgPr
[LT
?r Ap_[gjnZWqlqieohqn4okqYiokom
4`j`i`Peon_p_[gjnoWqlqiqjnpipOgx <ihhjcmbjdcjIhjgififmd\Xk_ef_kfmaZfgkmdiF
Xjhjg_jmcjak_\9mj_ihjHjdmbkfUkgkhkg_kf
<ihh0mY\c\fhjXbjmVjm_jbZdgkai^imS\Khjf_igiHi]m^`gcckXhkgefm^`gcF
ckXhedmSMgjVhjgifimYihifKhimZhkgkdm^kIbkhkgefemakWhk^eHe]mYigj^hjgifm_\F
X\fHjhjgifi]mdiXihidhjgifimVjm^jcjfjdhjgifimSjhiXcigiHimjWicibmKkheXbkhkge
^kIbkd]
E\gdKjfifm_ZWg`mS\UjhmVjmjcdihi]md`gkhhkgkm`^S`fmZhkgkdmMWgjcihF
bjai]md`hhkfehbkaemVjm^k^SefhkXcegehbkaem^Mf\f_jm^`gcmiKifjmVjmidihi
kfhkXbkhkgmKjgKjVjaif_jm^`gcm_eXefkm^MfjhidmMWgjcibmIgZSgkbhkge
QkUeghkbkd]
Ekgeb]mjf_\acgimVjmQiUbjcmajdcMg\f_jdim^jfimcjdfZhZihjgifmckfeF
cehbkaefk]m^jfimQiUbjcmkhkfhkgefefmSjhiXcigihbjaifjmiXaiUhjgifm^km_k
9kgdhemYigmiXmdZh`f_kmKkheXbkdmiacj^jfhjgjmiaciQ_kbmakWhk^eHe]mKkheXkfF
hkgefmiajmQk^kcmajVi^jhjgifim^\dajhciHimYjHjgihjgmdkUkfbkhkgefkm^kgF
_ebHemZhbkd]
?MgjajhmMUjhhidhjgjmVjmiQci^kKhkgkmSMgjmjWicibmMWgjcib]m\gjcib]miaF
ciQ_kb]mIkUkghkbkmVjmMgS\chjfbj^jm^MfjhidmKkheXbkhkgm^kIbkd] FA9jf_imZWh`b]mYkfkm_kmYigmckhjYjmYihjci
@egakhmdjaib_jfmSMKmj_jfhjgifmdjfcmd\hc\g\fjm`^`bmakWhkbkhkF VjgmYkdkhebt
gefkm^MfjhidmjWicibmKkheXbkhkgem^kIbkdcegl Dkaef_kfm[PT=
6`bQ`gi^jcibiUifmihdm^ehhkgef_kfmiciYkgjf]mcZIh`b`fmSjfjhmjWicibmajVi^jaim_iddkcjmkhefkgkdm^k^SefmjWicibj
Y\^\dmMfjbmVjgihbiXciglmD`mkhkf_kmidimd`g`bmMfjbhimiXhjVhjg_jmY`h`fb`XmVjmH`bQ`gi^jcmi_jZhZiaififm^jghjXF
bjaif_jmY\^\dmgZhmZ^fkbeXceglmD`md`g`bhkgmX`fhkg_eg
Ap _[gj n Z W q l q i n M d md i k p mg
LqkkolnLohlo\komq 0pkhoUkomq
Tr LqkkolnLohlo\komq
SYpWgephqnphgYnYoipfgjgnqjOoko_omohniqkkolniohlo\komqjqjn[okqYqinf`moOqnaphhgjepn;ghpmgikpmep
VdkdjdjdPr
[[m@kaebm[PT=3_jm<ihhjcm<jdcjYimEjXdihkF <ihhjcmbjdcjIhjgimIgZSgkbemO]mDmVjm6mkXkF
cefkm;kigmEkhibkcfkbjm^\g\gh\WjmSig_il bkhkgemZhbkdm\Ujgjm\KmkXkbk_kfmZh`X`F
^Zg_`l
[PTPF[PLJm^ehhkgemkgkaef_kmbihhjcmbjdcjIF
hjgifjm_jVkbmj_jgjdmXjQk_jcfkbjm:_iIF
hZbkNmkhkfhkgefmak^eaemTlLCBl=GJ3cigl
[LL
Hr 0pkhoUkomq
[PLTm^ehef_kmkKehbk^kmYkXhkfkfmQkhdjVhjgififmd`g`h`XmkbkHemOckc\gdm_jVgibhjgififmYjfibajcihbjai]mQkhdef
k^_efhkcehbkaemVjm^kXkbefmKkW_kXhkXcegehbkaefkm^MfjhidmKkheXbkhkgefm^kIehbkae_egl
SYpWgepnUomqkojnapkhoUkomqjonqkqYhqjnlpVk]nqkonYqqmqnqjOoko_qjqPrn$omqkojkomeojn_]kpn;ghpmphnapkhoUko9
mqjeohqnoWqlqiqjnhp\fpignaphhgjepnjokomnfC_ko_oVqkqmfqjqP3nK`Y`jOokomqjqPqnfgjgJgjgPephqnpmhpepYkp9
mgjgPkpn\p_kpYgjgPr
0pkhoUkomqn"dVokomq
@M^H\h\d <\UjmVjm8jgSi
:lllN
1Um^`g_`m9jcQjmKedcedmiXcjmbkfjf]m^jfi_jf
DigmSMf\hh\mUkYiccigmY`g_kfmQjgmdM^jmSi_jf
DigmUjVdifmUk9jgi_igmdM^_jmYigmYkf_Zmajai
5jgmQkhdm_jgaQkfjaimYigmk^gemig9kfmHjIQjai
8kQfj_jdimQjgmdk_efmQjbXigjmM_jVif_j
5jgmiHk_efmEZbgiamdk_kgmdkQgkbkfmQkhdjVif_j
8kVkXmKjcifajmKjcif]mX``gmckb]mjfjgimYZh]
5jgmZd`bkmZ_kaemYigmihjgimdkgkdZh
@khImVjmdk9km9jcQj_iImSjKjHjWiUmY`m^Zh_kfl
:lllN
2\f\b\U\fm9jgif_j]m\hd\b\U\fmkhjVi
D\^\dm^kgefebeUkm_ZWg`maj9jgYjgiUmYiU
5khdmiKif_j]mQkhdmiKif]mQkhdhkmYjgkYjgiUmYiUl
:lllN
DjQKjcm@jbkhm-kWhkg
[LG
<ihh0mAWicibmEjbjhm@kf`f`3fkmSMgjm^k^SefmjWicibifmMUjhmkbkHe]mbihh0mjWicibifmSjfjhmkbkKhkgefkmVjmcjbjh
ihdjhjgifjm`^S`fmZhkgkdmMgS\fmjWicibmaiacjbifjmQiKmSigbjbiX]mQjgQkfSimYigmdk_jbjaif_jmY`h`fkfmVj^kmY`
dk_jbj_jfmKedbeXmVkckf_kXhkgk]mMgS\fmjWicibifm^kfef_km^km_km_eXef_kmjWicibmVjgihjgjdmSjfjhmjWicibmajViF
^jaififm^\dajhbjaifimakWhkbkdceglmD`fkmSMgjm^k^SefmjWicibifm^kgkghkgemXM^hjmaegkhkfkYihig
Ap_[gjnZWqlqiqjnApmpmkpmg
4d`bkm^kUbkmMWgjcbjd]mYigj^hjgifmjdaidmjWiF <ihh0md\hc\gm_jWjghjgifimdZg`^`H`]mSjhiXcigiHi]mckF
cibhjgifimckbkbhkbkhkgemiKifmZfhkgkma\gjdhimZhkF feceHemVjmYjfibajciHimficjhidcjmjWicibmZhkfkWemQkF
fkdhkgmakWhkbkd Ueghkbkd
Dihibajh]mcjdfZhZid]mjdZfZbid]maZa^khmVjmd\hF EZIh`m^kXkbk]m_k^kfeXbk]m^kg_ebhkXbk]mYigF
c\gjhmSjhiXbjhjgjm`^`b`mdZhk^hkXcegeHemjWicib hidcjmKkheXbkmVjmMgS\chjfbjmkfhk^eXmVjmkheXF
ZhkfkWemakWhkbkd dkfhedhkgefemdkUkf_egbkd
AdZfZbififmSjhiXibim_ZWg`hc`a`f_kmVjmiaciQF
8jgYjacmUkbkfhkgem^kgkghemYigmYiKib_jm_jWjgF
_kbmIZhicidkaefkm`^S`fmbjahjdmj_ifbj^imakWF
hjf_igbjmVjmd`hhkfbkmkheXdkfhedhkgefemdkUkf_egF
hk^eHemZhkfkdhkgmQkUeghkbkd
bkd
SYpWgepNn_p_[gjnoWqlqinUomqkojnVpPgnpkpjkpmpnqkqYhqjnJ]l]WmpJkpmnUomqkiqYlqmrn@pYhpnapj[qnpkpjkpmep
_p_[gjnoWqlqinUomqkeqWqjqNnoWqlqinUomojnVdnhdmdikpmgjnapj[qkomqn]kedWdjdnpmpYlgmgjgPrnZkeonollqWqjqP
Vqk[qkomqnpYpWgephqnj]hlpkgnpkpjpn_pPgjgPr
Ohkfhkg @`g`bhkg
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
[LJ
B3Z V]_d`cd_26_XceA[U[ HbQbc[^
SYpWgepn:fipjkg6jgjnf]jneCjoikomqjeohqnoWqlqind_[dkpipkpmgjgn]mlp_pnh]_pjnVqmnpjgn_omnpkiph9
lpegmrnZWqlqiOqnQafpjn=dj[d6_pnpqlnVdnpjg_gn]hdedhlpjnf]jmpneoJlomqjqPoNnOdiadmq_olkonVqmkqhlonjokomqj
eoWqYiqYn]kpVqkoOoWqjonqkqYhqjnVqmnh]i\]Pqf_]jn_pPgjgPr
Fd\e0P\a`d^e0W_TST
[LRRm:[==TN3_jm<khkc^k+fefmXib_imYigmdkUkmbjgdjUimZhkfm!>bg`fmdM^\m:Y`S\fd\m"\c\gSjmihKjaiNf_jm_ZWF
b`X`blm;Zd`Um^kXefkmdk_kgmZgk_kmY`h`f_`blmDigmdM^h\mKZH`W`mjV]mckghk]mYkW]mYkQKjmQkcckmKZYkfhedmSiYimfj
dk_kgmiXjmajVdmZh`f`gakmYjfm_jmZm^kXhkg_km^kUefmY`miXhjghjm`WgkXeg]mkfHkdmdeXefmZd`g_`blm%Kmajfjmdk_kg
S\^kmZd`b`X`blm@`g+kf3efmYigKZdma`gjhjgifimjUYjgjmYihi^Zg_`blm5kcckmidim_j9kmQkcbjcbiXcibl
[LRPm:[=P[N3_km>ackfY`h+kmSjcigih_iblm@k^_Zh`fbkdmiKifmj^gjdm'\Xci^jaifjmSMc\g\h_\blm'\Xci^jfifmb\F
_\g\m4abkfm*`gimA9jf_imk_ef_km`hjbkm:YihSifhjgN_kfmYigiaimi_ilm?kXebefmihjgihiWifimSMgjgjdmZmUkbkfkmdk_kg
Qk^himZd`b`XmZh_`W`b`mckQbifmjcbiXmVjmdkKefHemaefe9kmdZf`hkHkWebemck^ifmiKifmfjmZd`_`W`b`maZgb`Xc`lm>di
_j9kmQkcibmif_ig_iWibimaM^hj^ifHjm@`g+kf3emkKce]mYigm^jgmSMacjg_imVjmZd`bkdheWebemaM^hj_im:Zd`bkbemiacj_iNl
2Macjgihjfm^jg_jfmYigmXj^mZd`^kbk_eb]mYkXdkmYigm^jgm_kQkmkKcemZgkaefem_kmVjm\K\fH\a\f\m_jmZd`^kbk_ebl
2\h_\mVjmckYiim^khkfmaM^hj_iWibjmQ\dbj_jgjdmYjfim'\Xci^jfifmiIci_kim:ihdZd`hNmdeabefefmiQci^kcm:QkUeghedNmaefeF
9efkmSMf_jg_il
Djfm^khkfmaM^hjbi^Zg_`blm%KmajfjmZd`b`XmVjm@`g+kf3em)_jckmjUYjghjbiXciblm,kdkcmQkg9hjgimckfebe^Zg_`bl
5ZHkmZd`b`X]mYjfmcjdgkgmjcbiXcibmYM^hjHjmcjdgkgmj_jmj_jm@`g+kf3emjUYjghjbiXciblm<jajhkmYigiaim!?kaif
_jajzmkhcmckgk9efemSgkbZ9ZfmIhkWemSiYimZd`^Zg_`blm,kdkcm!^mQkfSiai_ig]m!amQkfSiai_ig]mkgkfegakm?kaifma`gjai
@`g3kf3efmfjgjaif_jmY`h`f`g.mD`fhkgemYihbi^Zg_`bzmEj_giam:MWgjcibNm`a`h\f\fm9jfkheWef_kfmbezmQjgmfjF
_jfajm\KmajfjhidmMbg\bmYZXkmSicbiXlm
j^gjdm'\Xci^jaififmiQci^kcmaefe9ef_kmJFBm^kXef_kdimKZH`dhkghkmYighidcjmZd`bkd]m9kdkcmZfhkg_kfmkXkWemYig
_jgjHj_jmY`h`fbkdmS\H\bjmSiccimeagkgebm\UjgifjmZgk_kfmKedkgeh_eblm?ifjmZmckgk9hkg_km*`b`fjFim<jdcjYFi
4abkfimk_ef_kmQ`a`aimYigmiIci_kimbjdcjYifjmVjgih_iblmD`mbjdcjI]mQkdidkcjfmf`b`fjm:MgfjdNm_jfihbj^jm_jF
Wjg_ilm4d`^`Im^kUbkdmQjVjaibmKZdm9kUhkmi_ilmDigmY`K`dmajfjmiKif_jmY`mbjdcjYifm\Kmaefe9efemYig_jfmSjKcibl
jQk_jcfkbjm:_iIhZbkNmkhbk^kmQkHjcmdkhbk_kfmFfjma`gjchjmZh_`W`f`mQkceghk^kbe^Zg`bFmOdakgk^3_kdim<kQF
b`_i^jm'\Xci^jaifjmVjgih_iblm[RRmbjVH`ch`mYigmaefe9]mckhjYjmdeabjfmIjfHjgjmiKif_jmZc`g`^Zg_`lm;jgahjgmYkfk
KZdmkWegmSjh_imOgkIKk]m,kgaKk]m,gkfaeUHkmYihjmVkg_elm5jakIm:kgicbjcidNmQkddef_kmiIci_ki_jmjakahemYigmXj^mSMgF
bjbiXciblmD`gk_kmIgZSgkbemZh_`dKkm^\dh\mZhkfmY`m_jgacjfm\gdc\bm9kdkcm^ifjmKkheXe^Zg]mQjgmXj^imjUYjghi^ZgF
_`blmEkcYidkcm:`^S`hkbkNmVjmb\Ukdjgjm:aMUh\maefkVNmiKifmYkfkmaegkmSjhbi^Zg_`l
'\Xci^j_jmKZdm_`gbk_eb]mYigdkKmk^maZfgkm[L[Rm:[=PTNmajfjaim `Ykcefefm[L3\f_jm;kg\XXk9kdk3^km^kUehF
_eblm!'\Xci^j_jfmSjhbiXciglm_i^jmYigdkKmS\fmaZfgkmYigifHimaefe9ckfmidifHi^jmfkdhj_ih_iblm;jgahjgifmdjaihbjaifj
VjmibciQkfhkgefmYkXhkbkaefkm\Kmk^mVkg_e]mY`gk_km_kmQjakImdkgXebkmKedcelm;kg\XXk9kdk]mgi^kUi^jm:bkcjbkcidN^j
jQjbbi^jcmVjgjfmYigmhiajmi_iz
[L[Cm:[PR[NmajfjaimEjbb`U`f`fm^j_iaif_jmY`mhiaj_jfmaefe9ebefmidifHiaimZhkgkdmKedceblm5jgm_jgacjfmfZcF
hkgebmckbmZh_`W`mQ)h_jmgi^kUi^j_jfmjdaidcilmD`]mYjfibmgi^kUim:bkcjbkcidajhNmdk9k^kmakQiImZhbk^eXeb_kfmihjgi
SjhbjdhjmYjgkYjgmckmiIci_ki_jmSjgjdciWimSiYimQjakImZd`bkbkdckfzmYkXdkmYigmXj^jmYkWhkfkbkUl
PF[Rm^kXefkmdk_kgmkh9kYj^imckfe^kbkbeXmYigmKZH`d]mfiQk^jcmajdiUmajfjmiKif_jmVjm[=F[Pm^kXef_kmYigmhiaj^i
Qjbm_jmi^imYicigi^ZglmD`f_k]mZd`bkmKkWefefmSjKbiXmVj^kmSjHidbiXmZh`X`mVjmY`f`fm_ZW`g_`W`m`ckfbkmQiaai
kbihm:jcdjfNmZhb`Xc`gm_i^jYihigibz :AgSif]malm=GF=JlN
[LB
K
X,BMQAZ6KZn2&BZXLZFnAZXQ"XQBLZFQFn4ZGQ"QLQ
Hazrlanalm
[l 2\f\b\U_jmMWgjcbjfm^jciXcigjfmd`g`bhkg_kfmQkfSihjgifimYihi^Zga`f`U.
Tl 8iUjmSMgjmH`bQ`gi^jcifmi_jkhmMWgjcbjfimQkfSimMUjhhidhjgjmakQiImZhbkhe_eg.
[P=[m^ehef_kmKedkgehkfmTJGCmak^ehem?\dajdMWgjcibm@kf`f`mSjgjWifHjm_kQkmMfHjm<ihh0mAWicibmDkdkfheWe
Vjm\fiVjgaicjhjgjmYkWhemZhkgkdm9kkhi^jcmSMacjgjfmMWgjcbjfm^jciXcigjfm^\dajdZd`h]mjfacic\]mkdk_jbimVjm9kd\hcjhjg
TRmEjbb`Um[P=T3_jm?1@m:?\dajdMWgjcibm@`g`h`NmKkceaemkhcef_km\fiVjgaicjhjgmY\f^jaif_jmcZIhkfbeXceglm[P=PF
[PPRmMWgjcibm^ehef_kfmiciYkgjfmMWgjcbjfm^jciXcigjfmY\c\fm^\dajdMWgjcibmd`g`bhkgefefmMWgjcibma\gjaimjfmkU
_Mgcm^ehhedmhiakfam_\Uj^ifjmKedbeXceglm
%hdjmSjgjdaifibim_ZWg`hc`a`f_kmDkdkfheWebeUmVjm?1@miXmYighiWif_j]m[PP=F[PPPmjWicibFMWgjcibm^ehefF
_kfmiciYkgjf]mMWgjcbjfm^jciXcigjfm^\dajdMWgjcibmd`g`bhkgef_km^jfi_jfm^kIehkf_egbk^kmSi_ihbiXciglm
lbjYlSZVlcgm
E\gdi^j3_jm1Wgjcbjfm?jciXcigbj
4d`hmMfHjaifjmMWgjcbjfm^jciXcigbj
ckF
mDkdkfheWem
>hdMWgjcibjmMWgjcbjfm^jciXcigbj <ihh0mAWicib m Z d` h`F
kUeghkf eI
gk9ef_kfm Q i^j3_j
jgihjfmE\gd
f`UkmSMf_ g`bF
jciXcigjfmd`
MWgjcbjfm^ hS jajh
4gckMWgjcibjmMWgjcbjfm^jciXcigbj imihjmihSihimYj
hkgefmSjhiXib
iUl
9ihbimiUhj^if kmkKedhkfkf
]
[T=lm a ^9k_
k
^kI Fce
<jahjdimVjmcjdfidmjWicibjmMWgjcbjfm^jciXcigbj mQkUegheWefem
_kQkmMfHj ifiUl
SjgKjdhjXcig
WefeUmIkfjhim
@M^jmMWgjcbjfm^jciXcigbj
OWgeAWicibm,kd\hcjai Ockc\gd]mA_igfjm1Wgjcbjfm4d`h`f_km:[PLRN
[LC
[lm4d`hm1fHjaifjm1Wgjcbjfm?jciXcigbj
JZeV]_d`cd_ D`MacaWacd^
SYpWgephqnphgYnYoipfgjgnqjOoko_omohnX`mhq_o6eon]hdknCjOofqjonCWmoliojn_olqYlqmiojqjn[okq9
Yqinf`moOqjonqkqYhqjn;ghpmgikpmepnVdkdjdjdPr
[PLJ3cj
@eUmEjdfid
[P[GF[P[J [PTCm^ehef_kmOfkm<`khF 1Wgjcbjfm4d`h`
MWgjcibm^ehef_k hibm <jdcjYim cjdgkgm kKehF iKif_jm-ZH`dmDkdebe
Ofkm<`khhibm<jdcjYi beXceglm4gckZd`hm\Ujgimidi `Yjai3f_jmkfkZd`h`mMWgjcF
kKehkgkdmMWgjcbjfm^jF ^ehmMWgjcibma\gjhimY`mZd`h] bjfim^jciXcigihbj^jmYkXhkfbeXcegl
ciXcigihbiX]mkfHkdm[P[=3_j [PLRF[PL[m MWgjcibm ^ehe DMh\bm_kQkmaZfgkm-ZH`dm2jhiXibimVj
iQci^kKm9kUhkaemMWgjcbjf aZf`f_km >ackfY`hm @eU AWicibimDMh\b\mk_efemkhbeXceglmD`
Zh_`W`mSjgjdKjai^hj <`khhibm <jdcjYifjm ckF YMh\b]mZd`hmMfHjaifjmhiakfa
Zd`hmdkIkcehbeXceglm XefbeX]m _kQkm aZfgkm _k _\Uj^if_jmMWgjcbjf
dkIkcehbeXceglm ^jciXcigjfmihd
IgZSgkb_egl
[PB[3_jm>hdMWgjcibmVjmAWicib
Ejbjhm@kf`f`]mdeUmjfacic\hjF
gif_jmMWgjfibmSMgjfhjgifmkfkF
Zd`hhkgef_kmMWgjcbjfmZhkgkd
SMgjVhjf_igihbjaifimakWhkbeXF
ceglm [PBLF[PBGm MWgjcibm ^ehefF
_kfmiciYkgjfmdeUmbjahjdmhiajF
hjgif_jm-ZH`dm2jhiXibimVjmDkF
debem YMh\bhjgim kKehbeX]m Y`
YMh\bhjg [PCBm ^ehefkm dk_kg
MWgjcbjfm^jciXcigbiXciglm
<jgaifm%fiVjgaicjaim4d`hm1fHjaim1WgjcbjfhiWimDMh\b\mMWgjfHihjgim!OgkKm?kIebem_jgaif_j
[PCL3cj
<ihh0mAWicibmEjbjh
@kf`f`3f`fmc\bmMWgjcF
bjfhjgifmjfmkUmMfmhiakfa]mhiF
akfam_\Uj^if_jmMWgjfib
SMgbjhjgimXkgcefemSjcigbjaimfjF
[P=T3_jm
_jfi^hj]maZfgkdim^ehhkg_kmY`
Ofdkgkm@eUm
YMh\bmbjU`fhkgem`ackmMWF
[PPP3_kmZd`hmMfHjaifj Ejdfidm 1Wgjcbjf
gjciHimZhkgkdmiaciQ_kb
MWgjcbjfm ^jciXcigjfm YMF 4d`h`]m2kUim%fiVjgaicjai
j_ihbiXhjg_iglm
h\bhjgifIgZSgkbhkgefmakF Y\f^jaif_jm kKehkfm <jahjdi
^eaemLT3^jm^\dajhbiX]mY` AWicibm,kd\hcjaifimZh`XF
SjhiXbj_jmaZa^khmVjmjdZF c`gkfm Yigibhjg_jf
fZbidm9kdcMghjgm_jmgZhmZ^F YigimZhb`Xc`glm
fkbeXcegl
[L=
Tlm>hdMWgjcibjm1Wgjcbjfm?jciXcigbjm
6`bQ`gi^jcm;Mfjbif_jm:[PTLF[P=TNm<ihh0mAWicibmDkdkfheWemY\f^jaif_jmihdMWgjcibjmMWgjcbjfm^jciXcigjf
d`g`bhkgmX`fhkg_eg
gjcbjfim^jciXcigjfmd`g`bhkg
jQig]mdkakYkmVjmdM^mMWF
>hdMWgjcbjfmZd`hhkge
>dim^ehhedmjWicibmjfacic\hjgi
@M^mb`khhibmbjdcjIhjgim
@M^mMWgjcbjfim^jciXcigjf
@M^mjWicbjfmd`gahkge
d`g`bhkg
@M^mMWgjcbjfmZd`hhkge
@M^mjfacic\hjgi
AQhi^jcfkbjmibciQkfhkge
DkXdkmdk^fkdhkg_kfmMWgjcbjfmiaciQ_kbe
?j_jdma`Yk^mMWgjcbjfhjg
/jdihmMWgjcbjfhjg
<jdc`IhkmMWgjcbjfm^jciXcigbj
5eUhkf_egehbeXmIgZSgkbhkmMWgjcbjfm^jciXcigbj
-jXichim9kd\hcjmbjU`fhkgef_kfm^kgkghkfbk
BZeV]_d`cd_ <bWcbUbc[^
QkhCWmolqionpqln_dhpmgephqnUomqkomeojn_]kpn;ghpmphnTI>H6_onhpepmhqnCWmoliojn_olqYlqmiond_[dkpip9
kpmgjpnqkqYhqjn;ghpmgikpmepnVdkdjd\npYpWgephqnf]mdkpmgn_pjglkp_gjgPrnApjglkpmgjgPgnfgjgJgjgPephqnpmhpepY9
kpmgjgPkpn\p_kpYgjgPr
TrnMC_komonCWmoliojn_olqYlqmiohnq;qjnp_mgnhdmdikpmn]kdYldmdkipfgjgjnjoeojkomqnjokomn]kpVqkqm3
Hrn@pYhpnhp_jphkpmepjnCWmoliojnqflqaepigjpnjoeojn[omohned_dkidYn]kpVqkqm3
[LP
Llm4gckMWgjcibjm1Wgjcbjfm?jciXcigbjm
6`bQ`gi^jcm;Mfjbif_jm:[PTLF[P=TNm<ihh0mAWicibmDkdkfheWemY\f^jaif_jmSjfjhmZgckMWgjcibjmMWgjcbjfm^jF
ciXcigjfmd`g`bhkgmkXkWe_kdimckYhZ_kmVjgihbiXcig
4gckZd`hhkgkmMWgjcbjf
<`aidim<`khhibm<jdcjYi
^jciXcigjfmd`g`bhkg
?\dajdmMWgjcbjfmZd`hhkge
#iajhjgjmMWgjcbjf
^jciXcigjfmd`g`bhkg
EjgYi^jFimDj_jfi^jm<jdcjYim
@hkaidm^\dajd 8Zfm_Mfjbm^\dajd
MWgjcbjfmZd`hhkge MWgjcbjfmZd`hhkgem
AWicibmjfacic\hjgi :[PTLF[PC=N :[PC=F[P=TN
9ZeV]_d`cd_ <bWcbUbc[^
:hdkdjdPephqnCWmoliojkomqjnVdniofkoWqn_p\pVqkiohnq;qjnapj[qn_`hfohCWmolqinhdmdikpmgjgnVqlqm9
eqhkomqjqnpmpYlgmgjgPrnZkeonollqWqjqPnVdk[dkpmngYgWgjepNnoWqlqinfqfloiqiqPeonCWmoliojn_olqYlqmojnhdmdi9
kpmgjnm]k`naphhgjepn;ghpmgikpmepnVdkdjdjdPrn+ghpmgikpmgjgPgnpmhpepYkpmgjgPkpn\p_kpYg\n]mlphn[Cm`Ykom
]kdYldmip_pn;pkgYgjgPr
8ZeV]_d`cd_ HbQbc[^
SYpWgepnUomqkojnjqlokqhkomqnlpYg_pjnVqmnCWmoliojn]kedWdjdPdne`Y`j`jrn@dnjqlokqhkomonapj[qkomqjqj
ohkojiofqjqnqflomeqjqP3n4`j`i`Peohqn[okqYiokomqneon[CPnCj`jeonVdkdjedmpmphne`Y`jOokomqjqPqnj]h9
lpkgnpkpjpn_pPgjgPr
[GR
7ZeV]_d`cd_ Fa`d^e,K\TUT^
TI7E6eojnf]jmpNnCWmoliojn_olqYlqmionh]jdfdjepnJpmhkgn;pkgYipkpmn_p\gkip_pnVpYkpjigYlgmrnKpjgY9
ipjn]kpmphn`khoiqPon[olqmqkojnS@K6kqnBrnsrnLppfhon(Lo_fh)6qjnTI7D6lohqnmp\]mdjpn[CmonVqmnCWmol9
iojeonVdkdjipfgn[omohojnjqlokqhkomnUonCWmoliojn_olqYlqmionqkonqk[qkqnCjomqkomnpYpWgephqnYohqkeo
fgmpkpjigYlgmrn@dnCjomiokomkonqk[qkqnfo;ojohkomeojn[`j`i`Pnh]Ydkkpmgjpn[Cmond_[djnVdkedhkpmgjgPg
unqkonqYpmolko_qjqPrnApjglkpmgjgPgjnapj[qnCjomiokomeonUonjpfgkn_]WdjkpYlgWgjgnlof\qlnoeq\ndkpYlgWgjgP
f]jd;kpmgnfgjgJgjgPephqnpmhpepYkpmgjgPkpn\p_kpYgjgPrn
Mgfioj
2FZBQGZB Mplgkg_]mdi Mplgkig_]mdi
Mplgkg_]mdi
1Wgjcbjfm^jciXcigjfmd`g`bhkgefmk^gemVjmk^gefcehemYig
MWgjfHimajKbjmIhkfemZhbkhe_egl ^ ^ ^
1Wgjcbjfmk_k^hkgefkmVjgihjHjdmbjahjdm_jgahjgifim:IjF
_kSZidm9Zgbka^ZfNm<ADmihjm\fiVjgaicjhjgmYighidcjmKkheF
XkgkdmIhkfhkbkhe_eglmDM^hjHjmMWgjcbjfhjgifmficjhidhjgi ^ ^ ^
kKeaef_kfmKkceXbkm^kXkfbk^kHkdcegl
1Wgjcbjfmk_k^hkgefefmbjahjdimQkUegheWemkgccegehbkheF
_eglm ^ ^ ^
1Wgjcbjfhjgifmdjf_ihjgifimiXmYkXef_k]ma\gjdhimZhkgkd
SjhiXcigbjhjgimakWhkfbkhe_egl ^ ^ ^
1Wgjcbjfhid]mQjgmYkdebef_kfmHkUiImYigmbjahjdmQ)F
hifjmSjcigihbjhi_igl ^ ^ ^
@k^fkdm<kkadj]m'ZYjfamlm!E\gdi^j3_jm1Wgjcbjfm?jciXcigbjm5kddef_km'kIZgmOfdkgk]m[PJJ
[G[
3ZeV]_d`cd_ <bWcbUbc[^
SYpWgephqn[mpJqhlonQflpjVdk6epnVdkdjpjnVqmnSjpe]kdn2WmoliojnGqfofqjqjnHEEIn2==nf]jd;kpmgjp
[Cmon`jqUomfqlo_on_omkoYion]mpjkpmgnUomqkiqYlqmr 4mpJqWqnqjOoko_q\nCWmoliojnkqfofqnioPdjkpmgjgjnJpmhkg
pkpjkpmpn _Cjokion joeojkomqjon qkqYhqjn ;ghpmgikpmepn VdkdjdjdPrn +ghpmgikpmgjgPgn fgjgJgjgPephqn pmhp9
epYkpmgjgPkpn\p_kpYgjgPr
:HkIkkZhld[TlcgN
/ZeV]_d`cd_26_XceA[U[ HbQbc[^
SYpWgephqnYqqmqn]hd_d\neoJlomqjqPonCWmoliojkqhkonqk[qkqned_[dnUone`Y`jOokomqjqPqnpjkplpjnVqmnYqqm
Uo_pnh]i\]Pqf_]jn_pPgjgPr
DA*m1v'AE<A*m4#<O@m>8E>?4'$<m 8jfmMWgjcbjfmZhbkheaefmdkg_jXib
DjfmMWgjcbjfmZhbkdmiaci^Zg`bl 8jfmfkb`aa`f]mViH_kfaef]mk_khjcaiflll
DjfmXkigibifmbeagkhkgef_km_ih] 8jfmb\aIjcmihibaifmdkg_jXib]
2jfKmdeUebefmSjgSj9if_jmfkdeXmfkdeXmS\hl 8jfmig9kfaef]mifkfKaefmSjhjHjWibimk^_efhkckflll
XeWebefmakUef_kmcjh] 8jfmY`gkbmY`gkbmc\cjfmVkckfmajVSiai]
1I\hjaimYigmjhmZhbkdmiaci^Zg`b 8jfmY`gH`mY`gH`mdZdkfmE\gdh\dm_`^S`a`a`f
DjfmMWgjcbjfmZhbkdmiaci^Zg`blll DiUmMWgjcbjfmZhbkhe^eUmdkg_jXib
DjfmKkgjaiUhiWifm9ihiUhjf_iWim^jg_jm\bic] DiUmSMgbj^jfhjgjmSMU]
@Zgd`f`fmbk^khkf_eWem^jg_jm^\gjdmZhbkdmiaci^Zg`b ;`^bk^kfhkgkmd`hkd]
DjfmMWgjcbjfmZhbkdmiaci^Zg`blll ?\g\^jbj^jfhjgjmk^kdmZhbkhe^eUlll
DjfmMWgjcbjfmZhbkakbm_i^Zg`b] DiUmXkighjgibiUifmbeagkhkgef_km_ih]
4mUkbkfmX`mdMgIjm9i_kf] 2jfKmdeUhkgebeUefmSjgSj9hjgif_jmfkdeXmfkdeXmS\h]
*kaehmMWgjfjHjd]mKiKjdmkKeImbj^VjmVjgbj^i. XedhkgebeUefmakUhkgef_kmcjh]
`mSjhifhidmdeUeb] 1I\hjaimYigmjhmZhbkhe^eU
`mYe^edhkgem^jfimcjghj^jfm_jhidkfheb] D>m1v'AE<A*m4#<O#7?7lm
@ib_jfmMWgjfjHjdmifakfmSiYimajVihbj^i]majVbj^i <`ack9km*jkcm8j9jgHiZWh`
:cgkd^klj_`lcgN
/kckfmiKif]mbihhjcmiKif]mYk^gkdmiKif
2MUmdegIbk_kfmMhbj^i.
[GT
Glm@M^jm1Wgjcbjfm?jciXcigbj
@M^mAfacic\hjgi
UL"P4JOO<O><<+4
Ub]h! df\ Zfd] h` X! _
dXh\ ` Y]!d] fh!d!g!
[Zf`\Wff Wfh`hZbXh\
d^ fZ dbV! hV ]h Zh!!
!g!ZY]h!!!`d_X!
^!g!]h !h!!d!g[
gh hYe bVh! !d c bVh!
h fe\ Wf hf Wf h]f hch
feh!h![fe`gh!gaaa
REhb^KHHD\daH=H;aS
[Pm5kUigkfm[PGTu_jmKedkgehkfmGTCGmak^ehem@M^m4d`hhkgemVjmAfacic\hjgimEjXdihkcm?kakaemihjmd`g`hkfmVjm[PJG3j
dk_kgmVkgheWefema\g_\gjfmdM^mjfacic\hjgififmak^eaemT[3_iglm@M^mjfacic\hjgififmZh`Xbkaef_kmAcQjbm*jkc]m>lm5kdde
DkhckHeZWh`m9idighjgi^hjmMfjbhimYigmdkcdemakWhkgdjfm<lm*jHkcimQjbm9idighjgimihjmQjbm_jmYiUUkcm`^S`hkbkhkge^hk
Y\^\dmgZhmZ^fkbeXceglm,kdkc]mY`md`g`bhkgefmZgck^kmKedeXef_kmjfmMfjbhimgZhhjgmAWicibmDkdkfem5kakfmhim?\Hjh
ihjm>hdMWgjcibm2jfjhm<\_\g\m>abkihm5kddemEZfS`K3`f_`gl
+ZeV]_d`cd_ ?b\][Ubc[^
SYpWgephqnapmqlpepnUomqkojnhC_nojflql`komqjqnqjOoko_qjqPrn,khoiqPqjneCmlnVqmn_pjgjepnVdnoWqlqinhd9
mdikpmgjgjnp;gkipfgjgjnloioknjoeojkomqnjokomn]kpVqkqm3n=gjgJgjgPephqnpmhpepYkpmgjgPkpnlpmlgYgjgPr
"kUkgMgjf AgHiX
@eUehK`hh` OdKk_kW
>VgiU
;iHhj
4gckdhkg 2Mfjf ;\UiKi
Oda`
@M^mAfacic\hjgi
:[PGRF[PJGN
QkgickbjYlSZVlcg
[GL
/diadmq_olnKCjoiqjeon2WmoliojnAolqYlqmiojqjnXpmqafokn=`moOq
TIH8 m4gckm<`khhibm<jdcjYim:Digm^ehmaZfgkm2kUi
4gckm<`khhibm<jdcjYimk_efemkhbeXceglNmkKeh_elm
m@M^mb`khhibmbjdcjIhjgimkKeh_el TIH1
TID8 m@M^mjWicbjfmd`gahkgemkKeh_el
m@M^mMWgjcbjfim^jciXcigbjdmkbkHe^hk]mE\gF TI?E
di^j3fifmIjdmKZdmihif_j]mak^ehkgemT[3imY`hkHkd
Zhkf]mdM^mjfacic\hjgimkKehbk^kmYkXhkf_el
TI7I m[PJPF[PBRmMWgjcibm^ehef_k]mOfdkgkm?\dajd
1Wgjcbjfm4d`h`f`fm^kfemaegkmihdmdjUm_ifmMWF
gjcbjfim^jciXcigbjdmkbkHe^hkm>ackfY`hm?\dF
ajdm>ahkbmAfacic\a\mkKeh_el
mD\^\dmMWgjcbjfmkKeWefemdkIkcbkdmkbkF TI8E
He^hkm!^j_jdma`Yk^mMWgjcbjfmZhbkmQkdde
ckfef_el
Ejdfid]mciHkgjc]mc`giUbzmkhkfhkgef_km^\dajd
MWgjcbjfmZd`hhkgemkKeh_elm
TI87 m4gckm;ZW`mEjdfid]m5kHjccjIj]mDZWkUiKimSiYi
\fiVjgaicjhjgifmY\f^jaif_jmjWicibmYMh\bhjgi
kKeh_el
mAWicib_jmhiakfa\ac\mIgZSgkbhkgmYkXhkceh_el
mOfdkgkm%fiVjgaicjaimAWicibm,kd\hcjaimkKeh_el
m>hdMWgjcbjfmZd`hhkgefefmYigmdeabemMWgjcbjf TI1?
hiajhjgifjm_Mf\Xc\g\h_\l
m [PCGF=Rm kgkaef_km bjdc`Ihkm MWgjcibm ^ZF
h`^hkm^km_km[FTmQk9ckhedmQeUhkf_egehbeXmIgZSF
gkbhkghkmMWgjcbjfm^jciXcigih_il
TI>H 1Wgjcbjfm^jciXcigbjmIZhicidkaef_kmYkUemSjF
hiXbjhjgm^kXkf_e
m,Zgbka^Zfm_jgahjgimMfjbmdkUkf_el
m1WgjcbjfhiWifmQjgdjaifm^kIkHkWemYigmiXmZhkF
gkdm_\X\f\hbjbjaimSjgjdciWimSMg\X\mYjfibF
ajf_il
m1Wgjcbjfm^jciXcigbjmSMgjVim\fiVjgaicjhjgj
Vjgih_ilm
[GG
Z
Z&QXQLZnMSXM<KSn@.G.FSFnK,",F,BGZB
Hazrlanalm
[lm6`bQ`gi^jcm;Mfjbim_\X\f\ghjgififmjWicibhjmihSihimakV`f_`dhkgemZgckdmihdjhjgmfjhjg_ig.
Tlm4abkfhem_Mfjbim_\X\f\ghjgif_jf]mOckc\gd3\fmjWicibmkfhk^eXefemjcdihj^jfhjgmQkfSihjgi
ZhkYihig.
q_pn4Chpk\
AWicibifmkbkKhkgemdZf`a`f_kdimKkheXbkhkgefkmAbihjm;`gdQjibm:Abihm;`gdQk^b]m[=J=F[P[CN3efmSMg\Xhjgifi
!E\gdKjhjXcigjgjdmYkXhk^kfmi^km2MdkhI]mjWicibmZhS`a`fkmaZa^khmkKe_kfm^kdhkXbeX]m9jgchjgifmjWicibif_jmIaiF
dZhZidm`fa`ghkgm^jgifjmaZa^ZhZidm`fa`ghkgemd`hhkfbeXceglmi^km2MdkhI3kmSMgjmjWicibmbihh0md\hc\gjmSMgjm^jciXbiX]
Zf`mcjbaihmj_jf]mXkQai^jcmakQiYimSjfKhjgm^jciXcigbjhi_igl
JZeV]_d`cd_ HbQbc[^
SYpWgephqnhdldOdhkpmepNn q_pn4Chpk\6pn[CmonoWqlqieoniqkkolkomqjn[o;qmeqWqnpYpipkpmnUomqkiqYlqmr
@dnpYpipkpmgnqjOoko_q\nf]mdkpmgn_pjglkp_gjgPrnApjglkpmgjgPgnpYpWgephqnj]hlpkgnpkpjpn_pPgjgPr
Trn q_pn4Chpk\6pn[CmonoWqlqiqjnep_pjegWgnloiokndjfdmnjoeqm3
Hrn q_pn4Chpk\NnLdflpJpnMoipk6qjnoWqlqinpjkp_gYgjgnjpfgknolhqkoiqYn]kpVqkqm3
HrnS
Ypi DrnS
TrnSYpip p Ypi
AWic p
ibif AWici
AWicibifmd _jWi mbihh bifm
eabi h] 0 d\hc\ bihh0
Vjmbihh0 kgka mbihhjchj _k^k j
g
emZh_ gF f
Zh_`W`mihdj _if0m ` hjchj _eWembih
h cZIh` W` g F
cZIh`bhkg bhkg
[GJ
Slpl`mh
BZeV]_d`cd_ @b\U[cbU][\bc[^
SYpWgephqnYoipepnSlpl`mh6`jnoWqlqinJokfoJofq_konqk[qkqnVqk[qkomnUomqkiqYlqmrnSlpl`mh6`jn[Cm`Ykomqjq
[`j`i`Peone`j_pepna#hqin]kpjnoWqlqinpjkp_gYg_kpnhpmYgkpYlgmgjgPrn@ojPomnUonJpmhkgn_CjkomqnVokqmko_q\
pYpWgephqnj]hlpkgnpkpjpn_pPgjgPr
Slpl`mh6`jnZWqlqinokfoJofq
5k^kcckmjfmSjgKjdm^ZhmSMacjgiHimYihib_ig]m9jf_igl
AWicib]mQjgmc\gh\mQ`gk9j_jfmVjm^kYkfHem_\X\fHjhjgF
_jfm`Ukd]m\ac\f]mbihh0mVjmVkckfajVjgmZhbkhe_egl
<ihh0md\hc\gm_jWjghjgifimdZg`^`H`]mSjhiXcigiHi]mckfeceHemVjmYjF
fibajciHimficjhidcjmjWicibmZhkfkWemakWhkbkhe_egl
D`mbjbhjdjcifmkaehmakQiYimVjmcZIh`b`b`U`fmjakam`fa`g`mdM^h\F
_\glm>XcjmY`mdM^h\_\gmdimYihSimeXeWef_kfm^Zda`fmYegkdehbeXcegl
Digmckgk9ckfmHkQihhiWifmSi_jgihbjaifjm`WgkXegdjfmYigm^kf_kfm_kmbjbhjdjc
jVhk_efemaZa^khmQk^kcck]mjdZfZbidmQk^kcckmjcdihimVjmVjgibhimdehbkd]mjWiciF
bibiUifmMU\f\mcjXdihmjcbjdcj_igl
AWicibmiXjm^kgkg]m\gjciHimVjmQk^kcckmYkXkgehemZhkHkdmifakfhkgm^jciXcigbjhi_iglmAWicib
YihSi^imifakfmiKifmYigma\a]mYigmYkademkgkHem^kQ`cmbj_jfimYigmUjVdmZhbkdckfmKedkgeI
bk__imQk^kcckmYkXkgehemZhbk^emcjbifmj_jf]miXjm_Mf\dmVjmd`hhkfehkYihigmYigmVkaeck
Q)hifjmSjcigbjhi_igl
:"khkUZWh`]malm[JRF[BR3ckfm_jghjfbiXciglN
Ockc\gd3\fmjWicibm_\X\fHjai]mUkbkfefefmjWicibmkfhk^eXhkgef_kfmcjbjh_jmk^geheglm;iWjgmjWicibmkfhk^eXhkge
YjhighimYigm`fa`gkm_k^kfeImZm`fa`g`mb`chkdhkXcegbeXceglm1^hjmdimY`m_Mfjb_jm^k^SefmZhkfmi_jZhZihjgm_jVhjc]megd]
_if]miXKimaefe9e]majgbk^jmSiYim`fa`ghkg_kfm^khfeUHkmYigifimjWicibmIZhicidkaefefm^jS)fjmcjbjhimZhkgkdmdkY`hmjcbiXcigl
Ockc\gd]mE\gdmcZIh`b`f`m!aefe9aeUmVjmibci^kUaeUmZhkgkdmSMgb\X]mjWicibmIZhicidkhkgefefmY`fkmSMgjmZh`Xbkaefe
akWhkbeXcegl
[GB
E\gdmjWicibmckgiQif_jmYihifjfmihdmjWicibm_\X\f\g\mZhkfm,kgkYi3^jmSMgjm_jVhjcmYkXdkfembihhjcififmjWicibHiai
ZhbkhemMWgjfbjmVjmMWgjcbj^imajVbjhimVjmQjgmXj^imdZhk^HkmMWgjcbjhi_igl
DkXMWgjcbjfmOckc\gd]mckgiQibiU_jmYigKZdm^MfjciHififm9kgdefkmYihjmVkgbk_eWemY`mjWicibHihidmSMgjVifimjfmi^i
YiKib_jm\achjfbiXmdjf_if_jfmaZfgkdim_jVhjcmk_kbhkgefkm_kmMgfjdmZhb`Xc`gl
9ZeV]_d`cd_26_XceA[U[ =\bU][\bc[^
SYpWgepnUomqkojkomqn]hd_d\nqk[qkqnhp_jphkpmepjnSlpl`mh6`jnoWqlqiOqn_Cj`j`npmpYlgmgjgPrn$omqkojkomqj
egYgjepnVdkedWdjdPnCPokkqhkomqnV]YnhdldOdhkpmgjnq;qjon_pPgjgPr
Ockc\gd]mdkgkmckQckmYkXef_k Ockc\gd]m5`d`dm,kd\hcjaif_jmMWgjfHihjghjm_jgam_ifhjgdjf
1WgjcbjfhjgjmKZdm_jWjgmVjgbjai]mQjgm9egakcckmZd`hF @Zf`X`gdjfmdkgXeaef_kdimdiXimVj^kmcZIh`h`W`fm^kX]
hkgemSjUbjaimaefe9hkgk]m_jgahjgjmSigbjai bjahjd]maZa^khm_`g`bmSiYimMUjhhidhjgifimSMUmMf\f_j
Y`h`f_`gbkaem
-ZH`dhkgemKZdmajVbjai]mjWicib_jmKZH`dh`dm_MfjbiF
fifm_jWjgifimYihbjai
-ZdmZd`bkaemVjmZd`_`dhkgef_kfmKjVgjaif_jdihjgi
VjmcZIh`b`m^kgkghkf_egbk^kmMUjfmSMacjgbjai
;jgamdickIhkgem^kUbkae]mMWgjcib_jm^jfimcjgibhjgmY`hF
bkaem:1gfjWifmb\ajhhjam^jgifjm\KSjf]mb`gkYYk
^jgifjm_MgcSjfmcjgibhjgifimOckc\gdmY`hb`Xc`glN
[GC
ZWqlqionMplhgepn@dkdjpjnK`Y`j`mkom
8ZeV]_d`cd_ D`MacaWacd^
/diadmq_olnKCjoiqne`Y`j`mkomqjqjn_pYpikpmgnaphhgjepnpYpWgepnUomqkojnVqk[qkomqnqjOoko_qjqPrn@d
Uomqkomeojnapmoholnoeomohn/diadmq_olnKCjoiqne`Y`j`mkomqjqjn_olqYionh]YdkkpmgnUoniofkohqne]jp9
jgikpmgnaphhgjepn;ghpmgikpmepnVdkdjdjdPr
[=PG3cjm>Ubig3_jm_ZW_`blm>Ubigm>_k_iaif_jmVjm5`d`dm,kd\hcjaif_jmZd`_`bl
OV`dkchedmVjmMWgjcbjfhidm^kIcedckfmaZfgkm@`gc`h`Xm8kVkXe3f_km@`Vk^ebihhi^j3_j
kdci9mgZhmkh_eblm/kae9m-efkgmDj^3hjmu3>Ubig3jm;ZWg`33mSkUjcjaifimKedkgkgkdm<ihh0
<\Hk_jhj3^im_jacjdhj^jfm^kUehkgm^kU_eblm[PTJF[PTPm^ehhkgemkgkaef_kmbihh0mjWicib
YkdkfheWem^kIcebl
<`ack9km*jHkci
[=PC3_jm>ackfY`h3_km_ZW_`blm/j9km>_k_iaif_jmMWgjfHimidjfm7lm;\f^km8kVkXemfj_jF
fi^hjmkadjgjmkhef_eblmL]Jm^ehmkadjghidcjfmaZfgkm;kg\h9\f`fkmdk^_Zh_`blm;kg\hb`F
khhibifFimhim:?\dajdm1Wgjcbjfm4d`h`N^imYicig_iblm1WgjfHihiWib_jfmiciYkgjfm^jghimVj
^kYkfHemjWicibHihjgimifHjhj_iblm1WgjcbjfhidmVjmYkdkfhedmb\9jcciXhiWif_jfmaZfgkm2kUi
AWicibmAfacic\a\f_jmb\_\gh\dm^kIceblm[PL=3_jm<ihh0mAWicibmDkdkfemZh_`blm?kdhkXed
ajdiUm^ehmYkdkfhedm^kIceblmAajghjgib_jfmYkUehkgemchge >f!]mN_
Q!!!4]mCb W0UJW!!4bf!]mchegL Y^ f3_igl
5kakfmhim?\Hjh
[=PPm^ehef_km_ZW_`blm"j_kSZimjWicibimiKifmOhbkf^k3^kmSicciblm?`g_km_Mf_\dcjf
aZfgkmMWgjcbjfmZd`hhkgef_kmMWgjcbjfhidm^kIceblm2kUimAWicibmAacic\a\f\fm"j_kF
SZimDMh\b\f_jmbkkgi9mcjXdihkce]m'jaibmDMh\b\f_jmiXmIj_kSZiaim_jgahjgifimZd`cF
c`blm OhbkfHkm jWicibm dickIhkgefem E\gdKj^jm KjVig_iblm Aajghjgib_jfm YkUehkge
Nh VX^!Qd!g]mJb^_U ?Y!ce^ fW]mNh V!]
!g4Tbf]mdf^ fW3_igl
5e9UeggkQbkf
'kXicm1^bjf
[=PT3_jm8jg9iHj]m?`fkfiackf3_km_ZW_`blm8kfkcmjWicibimkh_edckfmaZfgkm<kkgi9m*jF
UkgjcifHjmOhbkf^k3^kmSMf_jgih_iblmDjghifmVjm#jiIUiSm:#k^IUidNm%fiVjgaicjhjgif_j
9jhaj9jmjWicibimkh_eblm[P[C3_jmIj_kSZim_ZdcZg`mZh_`bmVjm>ackfY`h3kmSjhjgjdmi_k_iF
hjg_jmMWgjcbjfhidm^kIbk^kmYkXhk_eblmDkd\mVjmOhbkf^k3_kmKkheXceblm2kUim4gckm<`F
khhibm<jdcjYif_jm"j_kSZimDMh\b\f\fmd`g`hbkaefemakWhk_eblmEkhibmVjmEjgYi^j
@`g`h`m\^jhiWi]m2kUimAWicibmAfacic\a\mQZHkheWemSMgjVhjgif_jmY`h`f_`blmAajghjgib_jf
YkUehkgem7g[b)W]mCb W_d ]mNe g]mbVeh&!e3_igl
5khihm,idgjcm@kfkc
[G=
7ZeV]_d`cd_ @b\U[cbU][\bc[^
SYpWgephqne`Y`j`mkomqjnoWqlqinpjkp_gYkpmgjgnqjOoko_q\n[`j`i`PnoWqlqinpjkp_gYnUond_[dkpipkpmg_kp
hpmYgkpYlgmpmphnVojPomnUonJpmhkgn_Cjkomqnlof\qlnoeqjqPrnK`Y`j`mkomqjnfqPonqk[qj;n[okojn[Cm`YnUon;pkgY9
ipkpmgjgneoJlomqjqPon_pPgjgPr
K`Y`j`mkom ZWqlqinSjkp_gYkpmgb+pkgYipkpmg
ym 1WgjcibmYighiWififm^k^SefhkXcegehbkae]mEkhibmVjmEjgYi^jm;kigjaififmjcdifhiWififmkgccegehbkae]
QkhdmjWicibimbjgdjUhjgimVjmQkhdm_jgaQkfjhjgififmkKehbkae]mZd`hmdickIhkgefefm^jfihjfbjaimYkXF
heHkmKkheXbkhkgef_kf_egl
LdflpJp
FoOplq
ym1WgjcbjfhiWimjfm^\HjmbjahjdmZhkgkdmSMgjfm<`ack9km*jHkci]mbihh0mjWicibmYkdkfheWem^kIceWe
aegk_km_kme _jgSiaifimKedkgcbeXcegl
ym1Wgjcbjfm^jciXcigbj^jmY\^\dmMfjbmVjgbiX]mHjQkhjchjmakVkXbk_kmVjmjWicib_jmjfmMfjbhi
`fa`g`fmMWgjcbjfmZh_`W`f`mYjhigcbiXcigl
ym@M^mjfacic\hjgififm^k^SefhkXbkaemiKifmKkheXbeXceglm
ym -kW_kXhkXbkdmiKifmDkce3^emckfebkbeUmSjgjdciWifjmifkfbeXceglm<ihh0mjWicibim^jfi_jfm^kIeF
hkf_egbkdmVjmdM^mjfacic\hjgifim^k^SefhkXcegbkdmiKifmKkheXbeXceglmDkdkfheWem_Mfjbif_jmEjgF
H\bjmD\gZa`mVjm;jVhjcm@ZfajgVkc`Vkgemd`g`hb`X]m>ahkbmOfaidhZIj_iaimE\gdKj^jmKjVgihbiX]
0pfpjnkq
_jgamdickIhkgefkmYjhhimYigmackf_kgcmSjcigihbiXcigl
A`Ook
ym%hdjbiUimcjbaihjfmdkceh_eWem$*A864m:$ficj_m*kciZfamA_`HkciZfkh]m8Hijfci9iHmkf_m6`hc`gkh
4gSkfiUkciZfpDighjXbiXm<ihhjchjgmAWicib]mDihibmVjm@\hc\gm1gS\c\NmcZIhkfceaef_kmjWicibmVjmMWF
gjcibmkhkfef_kdimiXmYighiWififm_\f^kmYkgeXefefmcjbjhimZh_`W`f`mV`gS`hkbeXcegl
ym5\bkfiUbmihdjaififmjcdiaif_jmYigmjWicibmIZhicidkaemiUhjbiX]mY`mkbkKhkmMgfjdm`^S`hkbkmZhkF
gkdm2khkckakgk^m#iajaif_jm#kcifHjm_jgahjgififmZd`c`hbkaefemakWhkbeXcegl
0gJPgmmpaipj
BpYqln2_ioj
ym-kW_kXmjWicibmZd`hhkgefemVjm^kYkfHem\hdjhjg_jdimjWicibmaiacjbhjgifimifHjhjbiXcigl
ym@kgbkmjWicibifm^k^SefhkXcegehbkae]mjWicibmQkddefefmfkaehmd`hhkfehkHkWefefmYjhighjfbjaim\UjF
gif_jmKkheXbeXceglm
ym%Kmaefe9hemdM^mZd`hhkgefefmYjXmaefe9kmKedkgehbkaemVjmcZIh`mMWgjcibmihdjaififm`^S`hkfbkaemSjF
gjdciWifimYjhigcbiX]mY`mdZf`hkg_kdim`^S`hkbkhkgemYkXhkcbeXcegl
ym#kidmjWicibifmQk^kckmSjKigihbjaimSjgjdciWifimV`gS`hkbeXcegl
ym8Zdkdhkgkmc\d\gbjdcjf]mkdhebeUefmjaciWim^jgjmd)WecmVjmKMImkcbkdckfmc`c`f`Um_km^jbjdm^jbjF
biUj]miKbjbiUjmVjmSi^ifbjbiUjmdk_kgmQjgmXj^imIj_kSZidmSMUhjmifHjhjbj^iImHkfhemVjmHkfaeUmKjVF
0pkqknqhmol
gjfifmjcdihjgifjmckbkbe^hkmdk^ecaeUmdkhbkbeUmQ)hif_jmY\^\dmQkckmiXhjbiXmZhkHkWebeUemaM^hjbiXcigl
Mpjpl
ymAWicibi]mSjKbiXcjmcZIh`bmckgk9ef_kfmbj^_kfkmSjcigihbiXmbk__imVjmbkfjVim_jWjghjgifmdZF
g`f`ImZfkm^jfim_jWjghjgmdkcehkgkdmSjfKmd`XkdhkgkmkdckgehbkaemVjmSjfKmd`XkdhkgefmY`m_jWjgF
hjgjmSMgjm^jciXcigihbjaimZhkgkdmckfebhkbeXcegl
ymAWicibifmkihj_jmYkXhk_eWefe]mkihjfifm_jmbihhjcifmcjbjhimZh_`W`f`]mkihjmaiacjbimakWhkbmZhkf
bihhjchjgifm`U`fma\gjm^kXk^kHkWefemV`gS`hkbeXceglm
ym4d`h`fm^kgkceHemVjmb\ackdihmXkQai^jcifmSjhiXibifjm`^S`fmYigmKjVgjmQ)hifjmSjcigihbjai]mZd`F
Qfipqkn0phhg
@pklpOg]Wkd
c`hkfmVjm^kU_egehkfmdZf`hkgefmMWgjfHihjgifmajVi^jhjgifjm`^S`fmZhbkae]mKZH`dhkgefmaM^hjbj^j
VjmZd`bk^kmUZghkfbkbkaemSjgjdciWifimi9k_jmjcbiXcigl
ym!-ZH`dhkgefmd\hc\gjh]maZa^khmVjmjdZfZbidm_\Uj^hjgi]mYjHjgimdkUkfbkhkgef_km_ZWg`_kfmjcF
dihi_iglmSMg\X\f\makV`fb`Xc`gl
ym4fkmSMgjmjWicibifmbkdak_emYjhighim_\X\fbj]m_`^bkmVjmiXhjbjmckgUef_kmYigmifakfmbj^_kfk
Sjcigbjdcigl
[GP
4@$<Om<AE*>
AXjdhim@\c\IQkfjHi
<`ack9km2\UjhSMU]m[PGGm^ehef_km%gS\ImEkQaifmOWkm@\c\IF
Qkfjaif_jmbjb`gmZhkgkdmSMgjVjmYkXhkglm@\c\IQkfjHihidmkhkF
fef_km QjgQkfSim Yigm YihSiaim Zhbk_eWem Q)h_j]m i^im Yigm d\c\IQkfj
Zh`Xc`gbkmKkYkaefkmSigiXiglmDigmd\c\IQkfjmSMgjVhiaimZhkgkdmQkhdk
fkaehm9k^_kaefefm_Zd`fkHkWefem_\X\fbj^jmYkXhk^kfm2\UjhF
SMU]mdM^h\f\fmibd)faeUhedhkgmfj_jfi^hjm^kgkghkfkbk_eWemd\c\IF
Qkfj^im Zf`fm k^kWefkm SMc\gbj^jm dkgkgm Vjgiglm D`f`fm iKifm Z
S\fd\mXkgchkg_kmjfm`^S`fmZhkfm^Mfcjb]mdickIhkgemjXjdhjghjmckF
Xebkdceglm1_\fKmVjgjHjWimdickIhkgmiKifm_jmYigmiUhjbjm_j9cjgimQkF
Ueghk^kgkdm ^Zhhkgkm _\Xjglm DM^hjHjm Zc`Um khcem dM^jm QiUbjc
Vjgbj^jmYkXhkglm@kgkifmdM^\f_jmDkhUkH3efmdhkaidhjgimYihjmZd`fF
bk^kmYkXhkfbeXcegl
2\UjhSMU]md\c\IQkfj^imaZa^khhjXbjmbjgdjUimZhkgkdmdkQVjQkfjfifmYigmkhcjgfkci9imQ)hifjmSjcigF
bj^jmKkheXeglmD`f`fmiKif]mXjQigm_eXef_kmKkheXkfmS`gYjcKihjg_jfmcZIhkfkfm^kg_ebhkghkmd\c\IQkfj^j
gk_^ZmdZ^kglmDM^hjHjmihKjfifmjgdjdhjgimd\c\IQkfj^jmSjhbj^jmYkXhkglm4]mdk_efhkgem_kmd\c\IQkfj^j
KjdbjdmkbkHe^hkmS`gYjccjdimQjbXjQgihjgif_jfmYigmdjUm_kQkmYkWeXmcZIhk^kgkdm_idiXmbkdifjhjgimkhegl
@M^hjg_jmd\hc\gmakfkc]mckgeb]mQk^VkfHehedmVjmS\f_jhidm^kXkbemdZhk^hkXcegeHemYihSihjgm\UjgifjmYjhSjajh
9ihbhjgmSMacjgjgjdmdM^h\^\mYihSihjf_igbj^jmKkheXeglm;jVhjcm"hkfhkbkmEjXdihkcemkgkHeheWe^hkmdkceh_eWe]
Objgidk3_km_\Ujfhjfjfm`h`ahkgkgkaemYigm^kgeXbk_kmY`mKkheXbkhkgef_kfm_Zhk^emYigm_jmM_\hmdkUkfkf
2\UjhSMU]m^igbimajdiUm^ehhedmd\c\IQkfjHihidmSMgjVifjmjhhimYigm^kXef_kmVj_kmj_jglm
<`ack9km2\UjhSMUmkfhkce^Zg
!@ickImajVSiaim_i^jmYigmajVSimVkg_eg]makfegeblmOfkmajVSiai]mdkg_jXmajVSiai]m^)gmajVSiaimSiYimYig
ajVSilmD`majVSimifakfefmiKif_jm_ZW`Xckfmbe_eg.m?ZdakmaZfgk_kfmbem`^kfeg.mD`f`mYihbi^Zg`blm;kQk
_ZWg`a`mYjfmXM^hjmifkfe^Zg`bm@ickImajVSiaim_jmY\c\fmMY\gmajVSihjgmSiYim_ZW`XckfmVkg_eg]mkbkm`^`F
^Zg_`glm4f`f]mUkbkfemSjhifHjm`^kf_egehbkaemSjgjdiglm@ickImajVSiaififmYjf_jmfkaehm`^kf_eWefem_\F
X\f\Im Y`m dkfe^km Vkge^Zg`blllm -jVgjbiU_jm HkQihhiWifm jcdihjgim S\fm SjKcidKjm kgce^Zg_`lm @\K\d
KZH`dc`blmDjf_jfmY\^\dhjg]mjadim^kUemZd`c`hkfmZd`hkmSi_jg_ilmEkbmYjfibmYkXhkbkmKkWebmSjh_i]
^jfim^kUemKedcelm?jfim^kUe^emMWgjfbjdmiKifm_jhimSiYimKkYkhe^Zg`blm%gS\I3jm^jfimYigmMWgjcbjfm^Zhhk_ehkg
ZmYigmSMacjgigajmYjfmidimMWgjfi^Zg`blm%Kmk^m_jbj_imZd`bk^emaMdc\blmDigmOD6mdickYebmVkg]mYkXckf
aZfkma`mSiYimiKciblm?kdefebeU_k]mdZbX`hkgebeU_kfm@Mgm8kfi^jmcj^UjmVkgmdickYebemkh_ebmbemZfkmdZF
X`^Zg`b]mYkXckfmaZfkmZd`^Zg`blmDjhdimZc`Um\KmdjUmZd`_`blmDjfibmSiYim8kfi^jmcj^Ujm_jmjUYjghj_il
%gS\I3cjmZmUkbkfmcZIhkbm^igbimYjXmdM^mVkg_elmD`fhkgefmQjIaifj]m[PLJ3jmdk_kgmZd`hmkKeh_elm4d`bk
^kUbkmYihjfhjgifmZgkfem^`gcckmwm[=midjfmYiUibmihKjbiU_jmwmJR3^jmKede^Zg_`lm%gS\ImQkhde]mZd`bk^e
ajVi^Zg_`lm>XcjmYjfmY`majVSi^jmS\Vjfjgjdm^ZhkmKedcebl
:Dk^d`gc]mal[GTlN
[JR
0cC^aeOaeAaPa\ca`Yd\^a
M]jlm]knGqflofq
SYpWgepn/diadmq_olnKCjoiqjeohqnoWqlqikonqk[qkqnCjomiokomnUomqkiqYlqmrnK]Wmdn]kpjnCjomiokomnq;qj
Knf`ldjdjpNn_pjkgYn]kpjkpmnq;qjnqfonAnf`ldjdjpnnqYpmolqnh]_djdPr
2jomiokom K A
[lm6`bQ`gi^jcifmihdm^ehhkgef_kfmS\f\b\Uj]mZd`g^kUkgmZgkfef_kma\gjdhimYigmkgceXmaMUmdZf`F
a`_`gl
Tlm4d`hmMfHjaimjWicibifmUZg`fh`mjWicibma\gjaimiKifjmkhefbkaemiKifmKkheXbkhkgm^kIehbkdck_egl
Llm@k_efhkgefmjWicibmajVi^jhjgififmkgcbkaemiKifm\hdjbiU_jmQiKYigmKkheXbkm^kIehbkbeXcegl
Glm4d`hhkg_kdimaefe9m^ZW`fh`W`f`fmcjbjhmfj_jfi]m\hdjbiU_jm`U`fm^ehhkgmZd`hm^kIehbkbkaeF
_egl
Jlm6`bQ`gi^jcifmihdm^ehhkgef_kfmiciYkgjf]mjWicibmkfhk^eXef_kmY\^\dm_jWiXibhjgm^kXkfbeXcegl
Blm<ihhjcmbjdcjIhjgififmd`g`hbkaefefmcjbjhmfj_jfi]mZd`hmKkWef_kdimSjfKhjgifmaZa^khm^Mfhjgifi
SjhiXcigbjdcil
ClmE\gdi^j3_jmMWgjcbjfhjg]m^khfeUHkmjWicibm9kd\hcjhjgif_jm^jciXcigihigl
=lm>_jkhmMWgjcbjf_jmY`h`fbkaemSjgjdjfmcjbjhmMUjhhidmZcZgicj_igl
Plm@M^mjfacic\hjgi]mdM^jmMWgjcbjfm^jciXcigbjdmkbkHe^hkm^`g_`fm_MgcmYigm^kfef_kmkKehbeXmd`F
g`bhkg_egl
[RlmOckc\gd]mjWicibifmbihh0m`fa`ghkgkm_k^kfbkaemSjgjdciWifimaM^hjgl
[[lmEjVQi_FimEj_giakcm@kf`f`3f`fmcjbjhmkbkHe]mjWicibmd`g`bhkgefefmMUjhhjXbjaifimakWhkF
bkdcegl
[TlmOfk^kak3^kmSMgjmjWicibmdkgbk]mhkid]mbihh0]m_jbZdgkcidmMUjhhidhjgmckXegl
[Llm5j^jcFim>hbi^jmcZIhkfcehkge]mZd`hhkg_kmZd`c`hkfm_jgamIgZSgkbhkgefefmYjhighjf_iWimcZIhkfceF
hkg_el
[Glm6`bQ`gi^jcm;Mfjbim_\X\f\ghjgif_jfmYigim_jm8kcemDj^3_igl
[Jlm@M^mjfacic\hjgi]m^kIkgkdF^kXk^kgkdmMWgjfbjmbZ_jhifim`^S`hkbeXcegl
[Blm%fiVjgaicjmgj9Zgb`f`fm^kIehbkae^hkmihdmdjUmMUjhm\fiVjgaicjhjgmkKehbeXcegl
[ClmAWicibifm_jbZdgkcidmZhbkaemaZgkf]maZgS`hk^kf]mjhjXcigjfmYigmfjahifm^jciXbjaif_jmMfjbhi
Yigm9kdcMg_\gl
[=lm%hdjbiU_jmZd`g^kUkgmZgkfemwm[RR3_\gl
[PlmEjVQi_FimEj_giakcm@kf`f`mihjm\hdjbiU_jdimc\bmjWicibmd`g`bhkgem<ihh0mAWicibmDkdkfheWefk
YkWhkfbeXegl
TRlm5khdjVhjgi]mMgS\fmjWicibm^kXefemSjKbiXmjgdjdhjgjmbjahjdmj_if_igbjdmkbkHe^hkmkKehbeXF
cegl
T[lm<ihh0mAWicibmDkdkfheWe]m\hdjbiU_jmMWgjcbjfifmficjhiWifimSjhiXcigbjdmkbkHe^hkmKkheXbkhkg
^kIbkdck_egl
TTlm<jahjdimVjmcjdfidmjWicibmd`g`bhkge]m^k^SefmjWicibmiKif_jm^jgmkhegl
TLlmOckc\gdmTGm@kaeb3_kmYkXMWgjcbjfm`fVkfefemkhbeXcegl
[J[
SrnSYpWgephqnf]mdkpmgnOoUp\kp_gjgPr
[lmE\gdi^jm6`bQ`gi^jci3fifm4abkfhem;jVhjci3f_jfm_jVgkh_eWemYkXheHkmjWicibmaZg`fhkgemfjhjg_ig.
Tlm[PT[m^ehef_km^kIehkfm<kkgi9m@ZfSgjai3fifmMfjbimVjmE\gdmjWicibmckgiQifjmjcdihjgim\UjgifjmSMg\XhjgifiUimYjF
higcifiUl
LlmOckc\gdm_Mfjbimbihh0mjWicibmYkdkfhkgefefmZgckdmi_jkhhjgimfjhjg_ig.
Glm6`bQ`gi^jcifmihdm^ehhkgef_kfmS\f\b\Uj]mjWicib_jmbj^_kfkmSjhjfmcjbjhm_jWiXidhidhjgmfjhjg_ig.
@rnSYpWgephqn;]hlpjnfo;iokqnf]mdkpmgnOoUp\kp_gjgPr
TrnSYpWgephqkomeojnapj[qkomqn0o_ol9qnQkiq_onl]\kpjlgkpmgjgjn_p\gkipnfoVo\komqnpmpfgjepn[Cflomqko9
ioP3
ONm<jVH`cmjWicibmaZg`fhkgefemYjhighjbjdm
DNm%fiVjgaicjmgj9Zgb`f`mSjgKjdhjXcigbjd
6Nm>hdmVjmZgckMWgjcibhjmihSihimdkgkghkgmZgck^kmdZ^bkd
;Nm<jVH`cmjWicibmaZg`fhkgefkmKMU\bm\gjcbjdm
ANm<ihh0mAWicibmEjXdihkcefefm^jfi_jfm^kIehkf_egehbkaefemakWhkbkd
HrnSYpWgephqkomeojnapj[qfqNnOdiadmq_olqjnqkhn_gkkpmgjepnoWqlqinpjkp_gYgjgjnloiokqjqn]kdYldmpjndj9
fdmkpmnpmpfgjepnfp_gkipP3
ONmAWicib]m_jbZdgkcidmZhbkhe_egl
DNmAWicib]mbihh0mZhbkhe_egl
6NmAWicib]mhkidmZhbkhe_egl
;NmAWicib]mjVgjfajhmZhbkhe_egl
ANmAWicib]mdkgbkmZhbkhe_egl
DrnLqkk'nL`OpeokonKCjoiqjeonoWqlqinpkpjgjephqnf]mdjkpmpn;CP`inVdkiphnUonX`mhnoWqlqinfqfloiq9
jqjnloiokkomqjqnpliphnpipOgnqkon_p\gkpjnqkhnl]\kpjlgnpYpWgephqkomeojnapj[qfqeqm3
ONm<kkgi9m@ZfSgjai
DNm7lm5j^jcFim>hbi^j
6NmDkhedjaigFOhkXjQigm@ZfSgjai
;Nm777lm5j^jcFim>hbi^jm
ANm<ihh0mjWicibmXgkmcZIhkfcehkge
?rnSYpWgephqkomeojnapj[qfqnOdiadmq_olqjnqkhn_gkkpmgjepnippmqJnUohqkkqWqn(iqkk'noWqlqinVphpjkgWg)n_p\9
ipigYlgm3
ONm>abkihm5kddemEZfS`Km
DNm5kb_`hhkQm8`IQi
6Nm>abkihm8k9k
;Nm<jQbjcm/jQYim
ANm;glm'eUkm*`g
7rn,khoiqPeonoWqlqinUonCWmolqiqjnVqmkoYlqmqkiofqnUonl`in]hdkkpmgjnLqkk'nZWqlqin@phpjkgWgjpnVpWkpj9
ipfgnpYpWgephqkomeojnapj[qfq_kon[om;ohkoYiqYlqm3
ONm<ihh0mAWicibmEjbjhm@kf`f`mihj
DNm[PT[mOfk^kakaemihj
6Nm7lm5j^jcFim>hbi^jmcZIhkfceaemihjm
;Nm77lm5j^jcFim>hbi^jmcZIhkfceaemihjm
ANmEjVQi_FimEj_giakcm@kf`f`mihj
[JT
8rn/diadmq_olnKCjoiqjeohqnoWqlqin;pkgYipkpmg_kpnpYpWgephqkomeojnapj[qfqn[om;ohkoYioiqYlqm3
ONm4d`g^kUkgmak^eae]mMUjhhidhjmZd`g^kUkgmdeUmKZH`dhkgefefmZgkfemkgcbeXcegl
DNm?`g_`fmIjdmKZdm^jgifjmZd`hhkgm^kIehbeX]mZd`hhkXbkmZgkfemkgcbeXcegl
6NmEZI^jdfmdkhdefbk_kmdM^h\f\f]mMUjhhidhjmdM^mKZH`dhkgefefmjWicibifjmY\^\dmMfjbmVjgihbiXcigl
;Nm4d`hmMfHjaimjWicibimQeUhkm^k^SefhkXcegehbeXcegl
ANmEjZgidmYihSi^jm_k^khemjWicibmkfhk^eXemQeUhkm^k^SefhkXbeXcegl
1rnTIDDn_gkgjepn[om;ohkoYlqmqkojn`jqUomfqlonmoJ]midjdjnloioknpipOgnpYpWgephqkomeojnapj[qfqeqm3
ONm%fiVjgaicjhjg_jdimMWgjfHimak^eaefemkgcegbkdm
DNm%fiVjgaicjhjgjmYihibajhmficjhidmdkUkf_egbkd
6Nm%fiVjgaicjhjgifmc\bm\hdj_jm^k^SefhkXbkaefemakWhkbkdm
;Nm@eUmMWgjfHihjgifm\fiVjgaicjhjgjmkhefbkaefemakWhkbkdm
ANm%fiVjgaicjhjgjmSigiXmaiacjbifim_jWiXcigbjdm
>rnSYpWgephqkomeojnapj[qfqnX`mhq_o6eonCWmoliojn_olqYlqmiohnpipOg_kpnp;gkpjn]hdkkpmepjneoWqkeqm3
ONm<`aidim<`khhibm<jdcjYim
DNm?\dajdmMWgjcbjfmZd`hhkgem
6Nm<\hdi^jm<jdcjYim
;NmAWicibm9kd\hcjhjgim
ANmAWicibmjfacic\hjgi
/rnSYpWgephqnO`ikokomeonV]YnVgmphgkpjn_omkomqNnhdldOdhkpmephqnd_[djnhokqiokomkone]kedmdjdPr
m1WgjcbjfhjgifmVjm`UbkfmdiXihjgifmSMg\XhjgimkhefkgkdmjWicibmdZf`hkgefefmSMg\X\h_\W\]mXgkhkgefmcjbjhimdkY`h
j_ihjfmihdmcZIhkfcemzzllllllllllllllllllllllllllllzzl
mzzlllllllllllzzlmjWicibifmbihh0mZhbkaemSjgjdciWifimaM^hj^jgjdmOckc\gd3\fm`h`akhmjWicibmIZhicidkaefemjcdihjF
biXcigl
m@M^mKZH`dhkgefefmihdZd`h_kfmaZfgkmMWgjcbjfmZhbkhkgemiKifmkhef_edhkgemzzlllllllllllllllllzzz]mdM^jmMWgjcbjf
^jciXcigbj^immkbkKhkbeXcegl
m6`bQ`gi^jcifmcjbjhmjWicibmihdjhjgif_jfmYigim_jmzzzzllllzzzmihjmdeUmVjmjgdjdmKZH`dhkgefefmYigmkgk_k
jWicibmSMgbjhjgifimakWhkbkdcegl
mLm<kgcm[PTG3cjmKedkgehkfmzzllllllllllllllllllllzzm@kf`f`]mE\gdi^j3_jmjWicibFMWgjcibmiXhjgifim_\Ujfhj^jf
cjbjhm^kakhkg_kf_egl
m*\9`a`mkUmZhkf]m_kWefedm^jghjXbiXmdM^hjg_jdimKZH`dhkgefmjWicibhjgimiKifmbjgdjU0mYigm^jg_jmihdMWgjcibmajViF
^jaif_jmjWicibmVjgjfmzzllllllllllllllzmZd`hhkgemkKehbeXcegl
mZg`fh`mihdMWgjcib]m>hdMWgjcibmEjbjhm@kf`f`3f_km^kIehkfm_jWiXidhidhjmlllllllzllzlm^ehef_km=m^ehkmKedbeXcegl
m<ihh0mAWicibmEjbjhm@kf`f`m_km_iWjgmdkf`fhkgmSiYimdk^fkWefemzllllllllllllllllllllllzl_kfmkhegl
m%fiVjgaicjhjgifmjWicib]mMWgjcib]mkgkXcegbk]mdZZg_ifka^ZfmVYlmiXhjgifim^\g\cbjdm\Ujgjm[P=[3_jmkKehkfmd`g`b]
zzzzlllllllllllll
m4d`g^kUkgmZgkfefefmkgcbkaef_kmzllllllllzlm^ehef_kmKedkgehkfm?jfimE\gdm5kg9hjgififm@kY`h\m?kakaemY\^\d
gZhmZ^fkbeXcegl
[JL
+rnSYpWgepnUomqkojn]kp_nUon]k[dkpmgn[om;ohkoYlqWqnlpmqakonoYkoYlqmomohnlpmqafoknf`moOqn]kdYldmdjdPr
<kkgi9m/jd)hjcififmd`g`hbkae TIHE
rrrrr lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll rrrrr
rrrrr lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll rrrrr
rrrrr lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll rrrrr
rrrrr lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll rrrrr
rrrrr lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll rrrrr
rrrrr lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll
lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll HEE7
[JG
/Z$S!nSFS0XSBGSB<
<rn.FQXZ
@r [lm; /r [lmEkgiQ]mjWicib
TlmD Tlm5`d`d
LlmA Llm8Za^ZhZi
Glm6 Glm>hdmE\gdm_jVhjchjgif_jmjWicib]m>ahkbi^jc3ifmdkY`h\f_jfm
JlmA aZfgkmjWicib]m6`bQ`gi^jcm;Mfjbif_jmjWicib
Jlm5`fhkg]m$^S`ghkg]m2Mdc\gdhjg
Blmklm2Mdc\gdmkh9kYjai]m$^S`gmkh9kYjai
Ylm6jakgjc]makVkXKehed
HlmDihSjhid
Klm?jfiaj^m?kUechkge]m4gQ`fm?kUechkge
_lm;jbigHihid]m_Zd`bkHehed
+r ;]m?]m?]m?]m;]m;
<<rn,FQXZ
M]jlm]knGqflofq
[lm?]mTlm;]mLlm;]mGlm?]mJlm;]mBlm;]mClm?]m=lm;]mPlm;]m[Rlm;]m[[lm?]m[Tlm?]m[Llm;]m[Glm?]m[Jlm;]
[Blm?]m[Clm;]m[=lm?]m[Plm;]mTRlm?]mT[lm;]mTTlm?]mTLlm;
@r [lmA /r [lmOckYj^
Tlm6 Tlm8eY^kfmbjdcjIhjgi
Llm; LlmAf_jg`f
GlmA Glm#ZfHk
JlmO JlmEjddjmVjmUkVi^j
Blm8kQfFem8jbkfm<j_gjajhjgi
Clm>_k_i
+r ;]m?]m;]m?]m;
<<<rn,FQXZ
M]jlm]knGqflofq
[lm;]mTlm;]mLlm?]mGlm?]mJlm;]mBlm?]mClm?]m=lm?]mPlm;]m[Rlm;]m[[lm?]m[Tlm;]m[Llm?]m[Glm?]m[Jlm;]
[Blm?]m[Clm;]m[=lm?]m[Plm;]mTRlm?]mT[lm;]mTTlm?]mTLlm;
[JJ
=2 G,M
S
pepVgidpYomolcn2MgS\md`gkhhkgel
pah#icn5\d\bhjgl
phgkOgkghc Odhkm_k^kfkf]m_ZWg`h`W`fmMhK\c\f\m_`^`hkg_km_jWih]m_\X\fbj_jmVjmc\b_jfSjhibhimKedkgebhkg_k
Y`hkfmMWgjcihjgifmSjfjhmk_em`aK`h`d]mkdhi^j]mgka^ZfkhiUb]m_jfj^HihidmdkgXecel
piokc ?kIehkfmiX]mj_ib]m9iihl
SmpVqc OgkIKk
Smqfl]niolpJqPqWqcnOgiacZcjhja3ifm<jck9iUidmk_hemjajgif_jmZgck^kmdZ^_`W`]m9iUiWifm_eXef_kmdkhkfmdZf`hkghkmihSihi
SMg\Xhjgil
pmPq_plc ?jgmYihibil
pPpeocnDkXeYZX]mjgdif]majgYjacl
@pVpqkqhc 777lm^\U^eh_kmDkYkm>aQkd+efmd`g_`W`mckgidkcl
Vp_gjegmc 2jhiXiImS\UjhhjXbjai]mQk^kcmXkgchkgefefm`^S`fm_`g`bkmSjcigihbjaimiKifm\Ujgif_jmKkheXehbeXmZhkf]
Ykdebhe]mibkgmj_ihbiX]mbkb`gm:^jgN]mkYkcl
Vp_lpmc /jcjgifjgmQjdibl
@ohlpYqcn5kHemDjdckXFem/jhi3fifmckgidkcefkmSigbiXmdibajl
Vokp[plc 8MUmakfkchkgefemifHjhj^jfmYihSim_khe]mgjcZgidl
VqVkq_][mpJ_pcn@k^fkdKkl
V]edjn(Vdedj)c @kVibl
@deqPic ;ZWk\ac\mdiXihjXbiXmYigmckfgem_\X\fHjaim^jgifjmakhcmVkgheWemdZ^kgkdmZf`fmifakf_kmkgU`mYiKibif_j
Yjhig_iWifi]mY`f_kfm_kmeacegkYefm_ZW_`W`f`]meacegkIckfmd`gc`hbkdmiKifmVkgmZhbkdckfmVkUSjKbjdmSjgjdciWifi
ihjgima\gjf]m5if_iackfmVjm-if+_jm^k^SefmZhkf]mD`__Qk+fefmihjgima\g_\W\mbiacidm_\f^kmSMg\X\mVjm_ifl
OoVoOqcn?jfiKjgimZg_`a`f_kmaihkQm^kIkf]mZfkgkfmVjmYkdebemihjmSMgjVhimY`h`fkf]makVkXckmZg_`f`fmaihkQmVj
HjIQkfjaifim`hkXcegkfm^k^kmdkIed`h`mZHkdhkgef_kfmYigmaefe9mkadjgl
OoVqmc OgcemVjmjdaimSjgKjdmak^ehkghk]mY`fhkgefm^jgifimc`ckfmQkg9hjgm^kg_ebe^hkmfiHjhidhjgmkgkaef_kmSjfjhmYkWhkfF
cehkgmd`gkfmbkcjbkcidmdZh`l
Ooeqeoc ?jfi]md`hhkfehbkbeXl
Oqmqlc OcmdZXc`g`ImYigYigifjm_jWfjdmkckgkdmckdebmQ)hif_jmZ^fkfkfmZ^`f]mHigicmZ^`f`l
;ghgjc DigmYjUjmakgehkgkdm_\W\bhjfbiXmd\K\dmYZQKk]mKedel
;]WdkOdkdhc -jXichimjWihibhjgif]m_\X\fHjhjgif]m^Mfjcib_jmjcdiaifimdkY`hmj_jfmai^kaim^Mfcjb]mIh\gkhiUbl
epjqYiojlc EkfUibkcckfmMfHj]mdk_ehkgefm^kfef_km^jciXbjdm\UjgjmSMgjVhjf_igihjfmdibajl
epm`kJ`jdjc %fiVjgaicjl
eoVVpWc ;jgi]mIZacmVYlfimd`hhkfehkYihjHjdm_`g`bkmSjcigbjdmiKifm`^S`hkfkfmiXhjbhjgim^jgifjmSjcigjfmdibajl
eoUYqmioc Oadjgm^jciXcigihbjdm\Ujgjm?jfiKjgim4HkWefkmkhefkHkdmKZH`dhkgemajKiImcZIhkbkmiXil
eqUqlc 5Zddk_kdimb\gjddjYjmYkcegehkgkdm^kUem^kUbk^km^kgk^kfmVjm_jWiXidm`KhkgemZhkfmYigmc\gmdkhjbl
e][ipc DjhhimYigmdZf`_kmihjgima\g\hjfmYigmSMg\X\fmaZgS`hkfkbkU]mckgceXehkbkUmSjgKjdmZhkgkdmdkY`hmj_ihbjail
[JB
Z
oeq\c A_jYi^kchkm`WgkXkfmj_jYimjajghjgmVjgjfmdibaj]m^kUkgl
oakq(oaqk)c DigmiXcjm^jcdihimZhkf]mYigmiXim^kIkf]mjgYkIl
oakq_oljpioc AQhi^jc]m^jcjghidmYjhSjai
okqJVpc OgkImkh9kYjail
ojeomdjc ;jVhjcmSMgjVhihjgifim^jciXcigjfmZd`hl
oUhpJc /kde9mbkhhkgefem^Mfjcjfmd`g`h`Xl
oUfpJc *icjhidhjg]mVkae9hkgl
Jpkphpc 6jUkmZhkgkdmk^kdmckYkfhkgefkmV`gbkdckmd`hhkfehkf]mk^kdhkgem`^S`fmYigm_`g`b_kmaedeXcegeImc`ckf]
dkhefHkmYigmaZIkmihjmY`f`fmidim`H`fkmYkWhemYigmiIimZhkfmkgkKl
pmqfqc ,kgaKkl
Jomipjc 4abkfhem;jVhjci+f_jmIk_iXkQefmVjg_iWi]m`^`hbkaemSjgjdhimQ\d\bhjgimckXe^kfm^kUehemY`^g`d]m^kghedl
Jghgac >ahkbmQ`d`d`f_km_ifmVjm_\f^kmiXhjgimihjmihSihimkfkmdk^fkdhkg_kfm^kgkghkfkgkdmdZf`hb`XmZhkfmd`gkhhkgef
Y\c\f\l
JqP_]k]%qc 6kfhehkgefmQ\Hgj]m_Zd`mVjmZgSkfhkgefefmSMgjVhjgifimVjmY`mSMgjVhjgifmfkaehm^jgifjmSjh_idhjgifimifHjhj^jf
Yihibm_khel
J]mipf_]jc [lmiQf0]mkQhkdimValm^jciXcigbj]m^jciXbjlmTlmDigmbjahjdmkhkfef_kdimSjgjdhimd`gkbakhmVjm`^S`hkbkhe
YiSihjglm
[`kVpjhcn5jImYigmkWeU_kfmVjmbkdkbhkm^kIehkfm_`kmVj^kmkfcl
apqPc DigmXj^imZhkf]mjhif_jmY`h`f_`gkf]mckXe^kfl
apmfc @\hc\gl
aplc ?kUel
aplq\c @Zf`XbkHel
apllplc -ZdmS\Ujhmjhm^kUeaem^kUkfmakfkcKel
aojeofoc 2jZbjcgil
aqlpVolc AcdihimaMUmaM^hjbjmakfkcel
a]hhpc <jckh]mHkbmVj^kmcZIgkdckfm^kIehbeX]miKifjmb\gjddjImdZf`hkfmd\K\dmdkIl
adiVpmpOgcn5`bYkgkm:Yigmc\gmYZbYkNmd`hhkfkfmkadjg]md`bYkgkHel
admpJoc ;ifjmaZfgk_kfmSigbiX]m^kfheXmifkfKl
adlVoc 6`bkmVjmYk^gkbmfkbkUhkgef_kmbifYjg_jmZd`fkfm_`kmVjmVjgihjfmMW\cl
a`ipjqPic 7/]m/mVjm/7lm^\U^ehhkg_km4gckm-kWefmadZhkacidm_\X\fHjm_\UjfifjmYigmcjIdimZhkgkdm_ZWkf]
?`fkfF'Zbkm`^Skghedhkgefefm_ihifj]m^kUefakhmVjmckgiQajhm^kIechkgefmifHjhjfbjaifjmkWeghedmVjgjfmjWicibm9jhaj9jailm
<
gfkpaplc 2jfjhmZhkgkdmQjgQkfSimYigmd`g`h`Xck]m_jVhjcm_\Ujfif_jmjadibiXm^km_kmYZU`hb`XmZhkfm^kfhkgem_\UjhcF
bjdl
gfkpaapjocn8`KmiXhj^jfmKZH`dhkgemeahkQmjcbjd]mjWicbjdmVjmcZIh`bkmdkUkf_egbkdmkbkHe^hkmkKehbeXmd`g`b]
eahkQjVil
Q
qOpPoljpioc ;iIhZbkl
q;lqipq_plc EZIh`bmYihibil
[JC
qepeqc #iajm_jgjHjaif_jdimZd`hl
qeo]k]%qc 8i^kakhmVj^kmcZIh`bakhmYigmMWgjcimZh`Xc`gkf]mYigmQ\dbjcif]mYigmIkgcifif]mYigmSg`Y`fm_kVgkfeXhkgefk
^MfmVjgjfmIZhicid]mQ`d`di]mYihibajh]m9jhaj9i]m_if0]mbZgkh]mjacjcidm_\X\fHjhjgmY\c\f\l
qalqfpfcn$Ubkfhed]m`UbkfhkXbkl
qalq_pmqc >acjWjmYkWhe]majKbjhimZhkf]majKibhidl
qa_pc -Zdmi^im_`g`bkmSjcigbj]mSjhiXcigbj]mS\Khjf_igbjl
qkokoVolc 8Zfa`Ukm_jWif]maZfa`Uh`Wkmdk_kg]ma\gSicl
qkiq_oc ;ifmiXhjgi^hjm`WgkXkfmQZHkhkgmaefe9el
qklqipfc 5kdaeUm^jgj]m^kakmVjmd`gkhhkgkm`^bkdaeUefmdk^egbk]mkgdkmKedbkl
qioOocnDigKZdmdiXififmcZIhkfeImjhmYighiWi^hjmYigmdiXififm^km_kmYigmcZIh`h`W`fmiXifimSMgbjaimVjmYM^hjHjmiXhjgif
aegkae^hkmYicigihbjail
qjhqYpJc <j^_kfkmKedbk]mSjhiXbj]mSjhiXibl
qjY#c <j_gjajhjg_jmZd`c`hkfmfjaigm_jgail
q\lqepqc >hdZd`hl
qmJpjc Dihbj]mkfhkbk]majUbjl
qflqaepic DigmSMgjV_j]mYigmiXcjmd`hhkfbkl
qflqjplc 2\Vjfbj]md`VVjcmkhbkl
qlapJc Digififmk_efkma`fbk]mkgbkWkfmjcbjl
hpVqkc 4hkfkdhel
hpkq[mpJqc 2\Ujhm^kUemakfkcel
hpjeqkc >Kif_jmaeVemYigm^kWmVjm9icihmY`h`fkfmdkIckfmZh`Xb`Xmk^_efhkcbkmkgkHel
hpm[gc 8ihkQmZhkgkdmd`hhkfehkf]m`H`maiVgimVjm_jbighim`U`fmbeUgkdl
hokpic DkXckmEkfge+fefmVkgheWe]mYighiWi]mIj^SkbYjghidmVjmkQigjcmZhbkdm\Ujgjm>ahkbi^jc3ifmkfkmihdjhjgifimdZf`
j_ifjfmYihibl
hgmpplc 4d`bkl
hqJp_olfqPc ?jcjgaiUl
hqlp\fpmp_cn5khdmd\c\IQkfjail
hkqipl]k]%qc >dhibmYihibil
h]WdYc 4abkfhem;jVhjci+f_jm_jVXigihjfmKZH`dhkgkmkHjbimZHkWef_kmjWicibmVjmMWgjcibifmVjgih_iWi]mYigYigifi
iUhj^jfm^j_imZ_kl
h]]\omplqJc 4gckdhkgefefmSjgjdaifibhjgifim`^S`fmXkgchkg_kmjh_jmjcbjhjgifimakWhkbkdmkbkHe^hkmd`g`hkfmZgckdF
hedl
h]Pi][mpJ_pc 2MdmYihibifif]mbkcjbkcidmVjm9iUiWifm^khfeUmcjbjhmdkVgkbhkgef_kfm^kgkghkfkgkdmjfmYjhhimYkXhe
Zhk^hkgemjhjmkhkfm_khel
hdVVoc ?kgebmd\gjmYiKibif_jmZhkfmVjm^kIe^emMgcjfm_kb]md\bYjcl
hdlc [lm;jVhjcmi_kgjaif_jmS\K]m^kgkceHehedmVjm^jcdimYkdebef_kfmakQiImZh`fkfm\ac\fmS\KlmTlm>hkQimYigmdk^fkdckf
SjhjfmgkQbjc]mYjgjdjcl
h`kkq_ocnDigmHkbififmKjVgjaif_jmHkbimihjmYighidcjmd`g`hb`Xmbj_gjaj]mibkgjc]majYih]mdickIhedmVYlm^kIehkgefmc\b\l
h`mofokkoYioc $h`ahkgkgkaem_\Uhjb_jm^k^SefhkXbeXmidciak_imjcdifhidhjgifmiXhjVajhmkfhkb_kmYigYighjgifjmjdF
hjbhjfbjail
kqUpc 4abkfhem_jVhjcif_jmYigm^jghjXibmYigibi]makfHkdl
kq_phplc Digmdibajfif]mdjf_iaifjmiXmVjgihbj^jm`^S`fh`d]m^kgkXeghedm_`g`b`]m_jWibl
k]jOpc DjhhimYigmiXmdZh`f_km`ack]mdkh9kmVjmKegkdhkgemiKifjmkhkfm_jgfjd]mdZgIZgka^Zfl
k`[plc 8MUh\dl
[J=
L
ippjqc <j_gjajhjg_jmZd`c`hkfmkfhkbmYihSiaim_jgail
ippmqJc DihSimVjmd\hc\gl
LpjqapqPic >gkfhem_\X\f\gm<kfi+fifm777lm^\U^eh_kmd`g_`W`mVjmi^ihidFdMc\h\dmjakaefkm_k^khem_if0m_Zdcgifl
LoOdfqc jg_\Xcm_ifif_jfmZhkfhkg]mkcjXjmckIkfhkgl
LoepqjnFoPpmolqcn4abkfhem;jVhjci3f_jmbk_jfhjg_jfmaZg`bh`mYkdkfhedl
ioemofoc [lm>ahkbm\hdjhjgif_j]mSjfjhhidhjm>ahkbm_ifimd`gkhhkgefkm`^S`fmYihibhjgifmZd`c`h_`W`m^jglmTlm,kd\hcjl
iohpjqhc @`VVjchjgifmbk__jhjgmVjmQkgjdjchjgm\UjgifjmjcdiaifimifHjhj^jfm9iUidm_khel
LoUkoUqkqhc <jVh)fkm6jhkhjccifm'`bi+fifmSMg\Xhjgifjm_k^kfkfmVjmZWh`mckgk9ef_kfmd`g`hkfmckgidkcl
io_pjc Ogk]mZgckl
ioPao\c Digm_ififmSMg\X]m^Zg`bmVjmkfhk^eXmk^gehedhkgemajYjYi^hjmZgck^kmKedkfmdZhhkgef_kfmQjgmYigil
iqjlpjcn[lm?kdkaeUm`U`fmdZhh`mjgdjdmSMbhjWilmTlm2Mbhjdm\UjgifjmSi^ihjfmdZhh`m^jhjdl
iqj_pl`mc -ZW`fh`dhkmjadim^kUbkmdickIhkg_kmSMg\hjf]meXed]mSMhSjmVjmQkHibm_`^S`a`m^kfaecehbk^kfmd\K\d]
gjfdhimgjaibmakfkcel
iqf_]jcn[lm2MgjVlmTlmObkKl
idpkkqic 1Wgjcbjfl
idpkkqioc Dk^kfmMWgjcbjfl
idVpffgmc 4d`hhkg_kmMWgjfHihjgifm_`g`b`mihjmihSihjfjfmVjm_\UjfimakWhkbkdhkmSMgjVhimdibajl
idJqen(i`Jql)c Ofhkckf]mi9k_jmj_jfl
idalpfpmc @eakhcehbeXmZhkfl
idqen(idql)c 4d`hhkg_kmKZH`dhkgemKkheXcegbkdhkmSMgjVhimdibaj]mMWgjcbjfm^kg_ebHeael
idlpfpUUgJc EkakVV`9mifkfKhkgefemYjfibaj^jgjdmdjf_ifimEkfge+^kmk_kbeXmdibaj]maZ9il
idUphhplc 2jKiHim^kUebl
i`eommqfc <j_gjaj_jmVj^kmHkbi_jmMWgjcbjfl
i`offofoc @`g`bl
i`hokkoJc ?\d\bh\l
i`joOOqiVpYgc 8kgk^mQiUbjcif_jmY`h`fkfmYihSifhjg_jfmSMdmYihibi^hjm`WgkXkfhkgkmVjgihjfm`fVkfl
i`mYqlc <\gichjgifjmckakVV`9`mMWgjcjf]maeghkgemVjmSjgKjdhjgimSMacjgjfmckgidkcmXj^Qil
i`fVolc 4h`bh`l
i`fokkofplc EgiSZfZbjcgil
jpaqUc 8MUm_iUibil
jphk'nVqkqikomc *kdhjm_k^kfkf]mkfhkcehkf]maM^hjfjfmYihibm_khhkgel
jpPpmqnaofp\c @`gkbakhmQjakIl
joUc -jXic]mHifa]mc\gl
jo_c @hkaidmE\gdmb\UiWif_jmVjmMUjhhidhjmcjddjmb\UiWif_jm^jgmkhkf]mdkVkhmYiKibif_j]m^kfedmajahi]mdkbeXckfmYig
\9hjbjhimKkhSel
jqPpijpioc E\U\dl
]epc ?jfiKjgimdeXhkhkgemihjmiKmakgk^mdZW`XhkgefkmSjfjhmZhkgkdmVjgihjfmk_l
CPomhc O^gemYigm^kak^kmYkWhemZhkgkdmdjf_imdjf_ifim^Mfjcbjm^jcdiaimZhkfm:d`g`h`X]m_jVhjcmVYlN]mb`Qckg]mZcZfZbl
[JP
!
\oep[]%qc AWicibmYihibil
\qmcnDigmckgidkcmVj^kmakfkcefmd`g`H`a`l
\]PqlqUqPicnOgkXcegbkhkgefemZhS`hkgk]m_jfj^hjgj]mSjgKjdhjgjm_k^k^kf]m9iUidmMcjaimkKedhkbkhkgemd`gkbakhmZhkgkd
ZhkfkdaeUmVjm^kgkgaeUmSMgjfmO`S`acjm6Zbcj3`fmkKceWem9jhaj9jmKeWege]mZhS`H`h`dl
mpakoc %Ujgif_jmdickImZd`fkf]m^kUem^kUehkfmYkUehkgemkKeheImdkIkfkYihjfmkhKkd]md\K\dmbkakl
mpfplapjoc 2MUhjbjVil
mqfpkocn[lm@\K\dmdickI]mYgZX\gm:1fHjhjgi]mKZW`fh`dhkm_if0mdZf`hkgemjhjmkhkfmd\K\dmQkHibhimdickIhkgmY`mk_hk
kfeheg_elNlmTlm>hibmVjmakfkckm_kigm^kUehkglm
mq_pPq_plc 4abkfhem;jVhjci3f_jmihdmbjdcjImk_emVjgihjfmihdMWgjcibmZd`hhkgef_kmZd`c`hkfmbkcjbkcidmYihSiaim_jgail
mq_pPq_oc <kcjbkcidl
BdJpqkqhc OQbj_m'i9ki+fifmd`g_`W`m8\ffimYigmckgidkcl
m`Ylq_oc 4gckZd`hm_jgjHjaif_jmZhkfmjWicibmd`g`b`l
fpJqcn[lm@kcedaeU]m_`g`]mcjbiUlmTlm*jclm
fpapJc 2jfjhhidhjmd`hhkfehbeXmVjmjadimdickImkheImakckfmdickIKel
fpklpjplc Digm\hdj_jmQ\d\b_kgef]mIk_iXkQef]ma`hckfefmjSjbjfmZhbkael
fpjeghc @kb`mdjaibif_jmKkheXkfmIjgaZfjhifmaZa^khmS\VjfhidmiXhjgifim^\g\cjfmd`g`h`Xl
fpjqc ?kIkf]miXhj^jf]mbj^_kfkmSjcigjfl
fpmJc <j_gjajhjg_jmZd`c`hkfm_ihYihSiaim_jgail
fplgac ?\Uj^l
foipc <jVhjVim_jgViXhjgififmfj^]mfea9i^jmVYlmKkhSehkgmjXhiWif_j]mdZhhkgefemidim^kfkmkKeIm_Mfjgjdm^kIcedhkgemk^ifl
fojeqhpc >XKihjgifmVj^kmiXVjgjfhjgifmiX]mdkUkfK]mcZIh`bakhmVjmd\hc\gjhmdZf`hkgmYkdebef_kfmKedkghkgefemdZg`bkd
Vjm_kQkm_kmSjhiXcigbjdmiKifmkgkhkgef_kmd`g_`dhkgemYighidl
fojloPc 1Wjhjgi]mYjhhimihiXdimVjmd`gkhhkgkmSMgjmYighjXcigiImMUS\fmYigmY\c\fmZh`Xc`gbkmiXil
fo_Jq_oc 4abkfhem;jVhjci+f_jm?jfiKjgim4HkWemdkh_egeh_edckfmaZfgk]m^jgifjmd`g`hkfm^jfimZg_`mMgS\c\f_jmSMgjV
^kIkfma`Yk^hkgefmZh`Xc`g_`W`mkadjg0maefe9l
fgV_pjn(f`V_pj)c -ZH`dmd\K\dmKZH`dl
fq\paqc 4abkfhehkg_kmcebkgmakQiYimYigmaefe9mkchemkadjgl
fh]kpfqhc 4gckm-kWm^Mfcjbhjgifjm`^S`fl
f]Jlpc <j_gjajmMWgjfHiail
fdaloc 8Z9ckl
fdklpjqc [PR=+_jfmaZfgkm4abkfhem\hdjhjgif_j]mY`S\fd\mhiajm_jfSimMWgjcibmd`g`b`l
"
"pipjqPic @`Uj^mVjm4gckmOa^k+_kmE\gdhjg]m_iWjgmdeckhkg_km_kmYkXdkmcZIh`h`dhkgmkgkaef_kmS\f\b\Ujmdk_kg
a\gjSjhjfm_ZWk^kmckIbk]m_ZWk\ac\mg`Qhkgkmifkfbkmcjbjhifjm_k^khem_if]mXkbkfhedl
"oVqpmdfc <jVh)fk+fefmMh\bm^ehm_Mf\b\mZhkfm[CmOgkhedckm@Zf^k3_km_\UjfhjfjfmcMgjfl
Yoapeoljpioc ;iIhZbk]majgci9idkl
YqiojeqJomc [lm;jbigm^Zh`lmTlmEgjfl
Ympc DigmkhkfhkmihSihimZhkgkdmZh`Xc`g`hkfm_kfeXbkmd`g`h`l
[BR
X
lpVqq_plc 4abkfhem;jVhjci3f_jmihdmbjdcjImk_emVjgihjfmihdMWgjcibmZd`hhkgef_kmZd`c`hkfm_ZWkmYihSiaim_jgail
lpVqmc ;j^iX]mkfhkceb]mi9k_jl
lpamqmc ?kUbk]mdickYjc]mdZbIZUia^Zfl
lpafqfc DigmXj^i]mYigmdibaj^jmVj^kmYigm^jgjmk^egbkl
lpkqic 1Wgjcibl
lpkqipljpioc ?Mfjcbjhidl
lpmqhplc O^fem_ififmiKif_jmYigckdebm^Zg`bmVjm`^S`hkbkm9kgdhehedhkgefkm_k^kfkf]mYkUemihdjhjg_jmYigYigif_jf
k^gehkfmEkfge+^km`hkXbkmVjmZf`mckfebkm^Zhhkgef_kfmQjgmYigil
lpfpUUdJc Ekfge+fefmficjhiWifimVjmjVgjfifmZh`X`b`f`mVkghedmYighiWimkfhk^eXe^hkmkKedhk^kfm_if0mVjm9jhaj9imkdebl
lpfJq_oc Ogecbk]mk^edhkbk]mcjbiUhjbjl
lopkqc ?\dajhbj]m^\Hjhbjl
loVppc $^g`dl
loJfqmc @`g+kf+efma`gjhjgifimkKedhk^kgkdmSMg\Xhjgmihjgima\gbjmVjmY`fhkgem^kUbk]m^Zg`bhkbkmYihibil
loJlqYc ;jfjcibl
lohhoc EkgidkcckfmZhkfhkgefmYkgef_edhkge]miYk_jcmVjmcMgjfm^kIcedhkgem^jg]m_jgS)Ql
lokqJc @ickIm^kUbkl
lokhqjc Digm_`^S`^`]mYigm_\X\fHj^imkXehkbkl
loUaqlc OhhkQ+efmYighiWifjmifkfbk]mYigmak^bk]mYigmZhkgkdmYkdbkl
loPaq\c ?kUbkmdickIhkg_k]mak^9khkgefm^kh_eUmVjmYZ^kmihjmYjUjfbjai]m^kh_eUhkbkl
ldVpcn6jffjccjmY`h`f_`W`fkmifkfehkf]mdMd\m^`dkge_k]m_khhkgemkXkWe_kmY\^\dmYigmkWkKl
dkoipc DihSifhjgl
dieoc >hdjl
`iiolc 5Ulm<`Qkbbjc+jmifkfkgkd]mZf`fm^kIcedhkgefemVjmaM^hj_idhjgifim`^S`hk^kgkdmKjVgjaif_jmcZIhkfkf
<\ah\bkfhkgefmc\b\l
UppPc 6kbi]mbjaHicmVYlm^jghjg_jmVkiUhjgifm^kIceWe]mSjfjhhidhjmMW\cmficjhiWimckXe^kfm_if0mdZf`Xbkl
UphJq_oc DigmVkd9efmXkgchkgefemYih_igjfmYjhSj]mVkde9fkbjl
Uoh#kolc Dkdkfhedl
_ojq;omqc 4gQkfm2kUimckgk9ef_kfm?jfiKjgim4HkWemk_e^hkm[LBT+_jmd`g`hkf]m>difHim<kQb`cmUkbkfef_km[=TB+_k
*iUkbeHj_icmk_ef_kdimkadjgmZHkWefefmd`g`hbkae^hkmZgck_kfmdkh_egehkf]m4abkfhem;jVhjci+fifmIi^k_jmkadjgmaefe9el
_ojqn!kpl]jOdkdhcn>adjf_jgi^j3_jmbihkcckfmaZfgkm777lm^\U^eh_kmZgck^kmKedkfmVjm/77lm^\U^ehkmdk_kgmZd`hhkg_k
Zd`c`hkfm9jhaj9jmMWgjciai]m^jfimA9hkc`fH`h`d]mfjZIhkcZfiUbl
PpVqlc '\cYjaimcjWbjf_jfmYifYkXe^kmdk_kgmZhkfmkadjgl
Ppjpplc Ahm`ackheWemiacj^jfmiXhjgl
PpUq_oc @\K\dmcjddjl
Pp_q;oc ?eh_eUhkgef]mYjhhimYigmUkbkf_kdim^jghjgifi]m_`g`bhkgefemSMacjgjfmKiUjhSjl
[B[
MSAFSM+S
_jb]m <kQb`c]m Slpl`mh;`n K`Y`jOon <YgWgjepn ZWqlqin !]kqlqhpigPN ?jfim 2\fm 5kYjgm Okfaem Dkaefm Vj
?k^efHehedmO ]mTRRRl
Od^\U]m?kQ^k]mX`mhnZWqlqinXpmqaqN PlmDkade_kfmDkUemAdhjghjmEeIdeYkaeb]m"jSjbmOm?k^efHehed]mOfdkgk]mA^h\h
TRRJl
Ofk_Zh]m6jbkh]m,)UihjmOYYkaZVk]m*)UihjmOYYkahe]mX`mhnM`kl`m`nUonLoeojq_olqN DihSjm@kgefHkm?k^efhkge]m>aF
ckfY`h]mTRRClm
OgahkfZWh`]m>YgkQib]m!@`ck_S`mDihiS3_jmAWicibmDihibmVjmOdeh]m?jfim,Zg`bm;jgSiai]m8m[C]mOgkhedm[PPBl
Slpl`mhNn4pPqnLdflpJpnMoipkN Ockc\gd3\fm8M^hjVmVjm;jbjKhjgim6ihcm[]mOckc\gdm@\hc\g]m;ihmVjmEkgiQm?\dajd
@`g`b`m:Ockc\gdmOgkXcegbkm<jgdjUiNmOfdkgk]m[PPC
Slpl`mh;`k`hN 6mT]L]mBlmYal]m<ihh0mAWicibmDkdkfheWem?k^efhkge]mOfdkgk]mTRR[l
DkhckHe]m6kQic]m:fipjkgnKoUkolq6jeonZWqlqinUon2WmolqiN E\gdhjg]m6m[[m:j_lm5kakfm6jh)hm2\Ujh]m@jbkh
-iKjd]m8khibm@ZHkN]m?jfimE\gdi^jm?k^efhkge]mOfdkgk]mTRRTl
DkXkgkf]m>YgkQibmAcQjb]mZWqlqin@qkqiqjon4qmqYN AdifZdamAWicibm;kfeXbkfhedm5iUlmVjmDkalm?k^lm;kWlm8kfl
VjmEiHlm#c_lm ]mOfdkgk]m4HkdmTRRCl
DkXkgkf]m>YgkQibmAcQjb]mX`mhnZWqlqin=qfloiqnUon:hdknACjolqiqN AdifZdamAWicibm;kfeXbkfhedm5iUlmVjmDkal
?k^lm;kWlm8kflmVjmEiHlm#c_lm ]mOfdkgk]mA^h\hmTRRBl
DkXSMU]m>hQkf]mX`mhq_o6jqjnZWqlqin+ghipPgnUonSlpl`mhN El6lm@\hc\gmDkdkfheWem?k^efhkge]mOfdkgk]m[PPJl
Dk^d`gc]m,kdig]mZYohkqnM`l`\apjoOqN #icjgkc\gm?k^efhkge]m>ackfY`h]mTRRCl
DifYkXeZWh`]m6kVic]m/diadmq_olnKCjoiqnZWqlqin@qkqikomqnXpmqaqN 1Wgjcbjfm5\aj^ifm5\af\mEjdeXedmAWicib
VjmOgkXcegbkm2jhiXcigbjm<jgdjUim?k^efhkge]mOfdkgk]m[PP=l
DifYkXeZWh`]m6kVic]mX`mhnZWqlqinK`Y`jOofqnXpmqaq SmpYlgmipkpm]mOfem?k^efHehed]mOfdkgk]mTRRJl
6kQjf]m6hk`_j]m:fipjkgkpmepjn2jOonSjpe]kd6epnX`mhkomN KjVlm?eh_eUm<Zgkf]mjm?k^efhkge]m>ackfY`h]m[PCPlm
6kf_kf]mAgS`f]mX`mhkomqjnM`kl`mnMChojkomqN GlmYal]m8efegm1cjaim?k^efhkge]m>ackfY`h]mTRRGl
/diadmVpYhpjkpmgNn@pYVphpjkpmnUonLrnZWrn@phpjkpmgjgjnLqkk'nZWqlqikonQk[qkqn=C_koUnUonKoio;komqN 6m[]
E\gdm;jVgibmEkgiQimAfacic\a\m?k^ebhkge]mOfdkgk]m[PGBl
-kWkck^]m*jXjc]m@qmnX`mhnMdmdidn:kpjnSaqkqhN TlmYal]mE\gdmEkgiQm@`g`b`m?k^efhkge]mOfdkgk]m[PPCl
-jhid]mOYYka]m!5kcegkhkghkm8eY^kfm<jdcjIhjgi]mOckc\gdm%fiVjgaicjaim>hkQi^kcm,kd\hcjaim;jgSiai]m8mTC]mTRRCl
-jcifdk^k]mD\hjfc]m:mlp;pWnQfk#inK`j_pfgjepnBqVpln:/77F777lmOaeghkgmOgkaeN]m8kdkg^km%fiVjgaicjaim8Za^kh
DihibhjgmAfacic\a\mDkaehbkbeXm?\dajdm#iakfamEjUi]m8kdkg^k]mTRRLl
-`Y`dK`]m>YgkQibmOS)Q]mX`mh9Qfk#inK`Y`j`mkomqN E\gdmEkgiQm@`g`b`m?k^efhkge]mOfdkgk]m[P=Pl
-`Y`dK`]m >YgkQibm OS)Q]m X`mh9Qfk#in M`kl`m`n ,Pomqjon SmpYlgmipkpmn Uon 4Cm`YkomN Ofdkgkm %fiVjgaicjai
>hkQi^kcm,kd\hcjaim?k^efhkge]mOfdkgk]m[P=Cl
;jbigHi]m<jQbjc]m4Cj`knK`j_#igPgnS_egjkplpjkpmN <kVim?k^efHehed]m>ackfY`h]mTRRJl
;jbigjh]m5kbi_j]mX`mhnKoflpjkpmgjepn4`PokkqhnKoflpjnLpfpknUonKqjn.jfdmkpmgnqkonApVpjOgnKoflpjkpmep
X`mhnMpampipjkpmgN 1c\djfm*jXgi^kc]m>ackfY`h]m[PPJlm
K]WdYlpjn4`j`i`Pon@`_`hnQfk#inXpmqaqNn6m[T]m-kWm?k^efhkge]m>ackfY`h]m[P=Pl
;MfbjU]m6jfSiU]m kQifm4g`K]m<<rnLoYmdlq_olnKCjoiqnXpmqan2WmolqiqN 2kUim@ickYjVi]mOfdkgk]mTRRBl
;`bkf]mEk^^iI]m!Ockc\gd3\fmAWicibm2Mg\X\]mDihibmVjmOdhefmO^_efheWef_kmAWicib]m8m=RF=[m:Ockc\gdm1Ujhm8k^eaeN]
AdibF@kaebmTRRBl
ZWqlqin@qkqiqjon4qmqY]mj_lmO^Hkfm-iKjdm8kWhkb]m<k^kmOdk_jbim?k^efhkge]mOfdkgk]mTRR=lm
ZWqlqin@qkqiqjon4qmqYN j_lmO^hkm4dck^]mTlYal]m"jSjbmOm?k^efHehed]mOfdkgk]m@kaeb]mTRRClm
[BT
AdifHi]m?`a`9]mXpmqanQ;qjeonX`mhkomeonLofkohnZWqlqiqN -egkdhedmVjm?k^SefmAWicibm2jfjhm<\_\gh\W\m?k^efhkge]
Ofdkgk]m[PPRl
AgSif]m4abkf]mX`mhq_onLppmqJnXpmqaqN 6m[FT]mJ]mAajgm<kcYkkae]m>ackfY`h][PCCl
AXicSif]m;ifKjg]m5kddem$ah`]m!"gZ9lm;glm?kQ^kmOd^\UmihjmOckc\gdmVjmAWicibm\Ujgifjm8M^hjXi]mDihibmVjmOdhefmO^F
_efheWef_kmAWicib]m8m=RF=[m:Ockc\gdm1Ujhm8k^eaeN]mAdibF@kaeb]mTRRBl
2jfK]m'jXkcm:5kUlmVjm8k_lN]mX`mhq_o6_qnGpqhkoYlqmojnApfpkpm]mOckc\gdmOgkXcegbkm<jgdjUi]mOfdkgk]mTRRJl
Qflplqflqhn4Cflom[okom 8ckciaciaHkhm7f_iHkcZgam[PTLFTRR=]mE\gdi^jm>ackciacidm@`g`b`m?k^efe]mOfdkgk]mTRR=l
@k9jaZWh`]>YgkQib]mX`mhnLqkk'nM`kl`m`N PlmYal]mDZWkUiKim?k^efhkge]m>ackfY`h]m[PPLlm
@kgkQkf]mOY_\hdk_ig]mX`mhnM`kl`m`nUonZeoVq_plgN <ADm?k^efhkge]m>ackfY`h]m[PP=l
@kgkdkX]m<kQb`c]mL`fVolnQkqieonL`fk`ipjnkqikomn:8jdiUifHimOaeg_kfm4fajdiUifHimOagkm@k_kgN]m@\hc\g
DkdkfheWem?k^efhkge]mOfdkgk]m[PP[l
@k^fkg]m'jXkc]mLdflpJpnBoYqln!pYpnUonXpjPqiplN LlmYal]mE\gdmEkgiQm@`g`b`m?k^efhkge]mOfdkgk]m[PP[l
@kUeHe]mi^k] QfkpinLoeojq_olnUonL`offofokomqnXpmqaqN @k^eQkfm?k^efjVi]m>ackfY`h]m[PPPl
@ZHkc\gd]m$cdkf]mSlpl`mh6`jnqhqmnUonK`Y`jOokomqN LlmYal]mOckc\gdmOgkXcegbkm<jgdjUi]mOfdkgk]mTRRCl
@Z_kbkf]mDk^gkb]mSVe`kapiqenKoUmqnZWqlqin=qfloiqN LlmYal]mE\gdmEkgiQm@`g`b`m?k^efhkge]mOfdkgk]m[PPPl
<kkadj]m'ZYjflml]mX`mhq_o6eon2WmoliojnAolqYlqmion0phhgjepnBp\]mNnOfdkgk]m[PJJl
<ADmAWicibm;jgSiai]m8m=RF=[]mAdibF@kaeb]mTRRBl
LoUk#jpnSmpYlgmipkpmgnTN j_lmO_fkfm@kgkiabkihZWh`]mOdKkWm?k^efhkge]mOfdkgk]mTRRCl
LdflpJpn FoOplqn Uon /diadmq_oln ZWqlqin KoUmqiqNn 8jbIZU^`bm Dih_igihjgi]m ?jfim @`Xkdm @M^m Afacic\h\hjg
;jgfjWim?k^efhkge]m>Ubig]mTRRPlm
4Hkd]mOQbjcm?kXkg] !*iUkbi^jm<j_gjajhjgimVjmD\^\dm8jhK`dh`hkg_kmAWicib]mE\gdhjg]m6mJm:j_lm5kakfm6jh)h
2\Ujh]m@jbkhm-iKjd]m8khibm@ZHkN]m?jfimE\gdi^jm?k^efhkge]mOfdkgk]mTRRTl
4gck^he]m>hYjg]m:fipjkg6_gnAojqeojnMoYJoliohN GlmYal]mEibkXm?k^efhkge]m>ackfY`h]mTRRBl
1Sjh]mDkQkj__if]mK`jeojn@dn4`jonX`mhnM`kl`m`j`jn4okqYion+pWkpmgN LlmYal]mE\gdm;\f^kaemOgkXcegbkhkge
/kd9e]m>ackfY`h]m[P==lm
1Sjh]mDkQkj__if]mQfkpiq_ol6lojn2jOonX`mhnM`kl`mnXpmqaqNnLlmYal]mE\gdmEkgiQm@`g`b`m?k^efhkge]mOfdkgk]m[P==l
1f_jg]m<jQbjc]mSjpe]kd6_dnS_egjkplpjkpmNnEl6lmDkXYkdkfhedm/kde9hkgm2jfjhm<\_\gh\W\]mOfdkgk]m[PP=l
1Ukdbkf]mE`gS`c]m"dn+gk[gjnX`mhkomN TClmYal]mDihSim?k^efjVi]m>ackfY`h]mEjbb`UmTRRJl
1UYjd]mOY_`hhkQ]m@qmnZWqlqiOqn:kpmphnFpfmoeeqjn0]OpN Aagkm?k^efhkge]m@Zf^k]m[PPRl
1Udkf]m jgi9j]mLoemofonX#VqmqjqjnQkhnKoJpn:mlp_pn+ghgYgNn=ok;dhkdkpmn pipjgjepnLoemofokomqjnMdmdkdY
=oVo\komqnUonLoemofonZWqlqiqN 8jhK`dm%fiVjgaicjaim8Za^khmDihibhjgmAfacic\a\mDkaehbkbeXm?\dajdm#iakfa
EjUi]m@Zf^k]mTRRCl
1Uc`fk]m?ehbkU]m@`_`hnX`mhq_onXpmqaqN 1c\djfm*jXgi^kc]m>ackfY`h]m[PC=lm
1Uc\gd]m6jbih]mSlpl`mhnKoUmqn2WmoliojnAolqYlqmion!]kqlqhpfgN E\gdmEkgiQm@`g`b`m?k^efhkge]mOfdkgk]m[PPBl
"khkUZWh`]mOQbjcmDjdig]mSlpl`mh6`jnZWqlqikonQk[qkqnK`Y`jOokomqNn,jgakm<kcYkkHehed]mOfdkgk]m[PPPl
8kdkZWh`]m*jH_jc]m/diadmq_olnKCjoiqnZWqlqinXpmqaqN >hjciXibm?k^efhkge]m>ackfY`h]m[PPTlmmm
8kdkZWh`]m*jH_jc]m:fipjkgnZWqlqinXpmqaqN >hjciXibm?k^efhkge]m>ackfY`h]m[PP[l
8kdkZWh`]m*jH_jc]m:fipjkg6epjn4`j`i`PonZWqlqinXpmqaqN DihSim%fiVjgaicjaim?k^efhkge]m>ackfY`h]mTRRJl
8Z^akh]m<lm4gQkf]mZfhqnX`mhnZeoVq_plgnLolqjkomqN <ADm?k^efhkge]m>ackfY`h]mTRRTl
8`fS`]m>Qakf]m!EjVQi_imEj_giakc]mDjhhjcjfm:E\gdmEkgiQm@`g`b`N]m6mT]m8mCF=]mEjbb`U]m[PL=l
XpjPqiplN 6m[]mTlmYal]m<ADm?k^efhkge]m>ackfY`h]m[PPPlm
[BL
X`mhq_o6eonQkhCWmolqin(K`j`n@d[`j`nApmgjg)Nn<ihh0mAWicibmDkaebjVi]m>ackfY`h]mTRRLl
EkX]m@jfkfmi^k]m:fipjkgkpmepnGpkpkghnL`offofofqN @kg_jhjfm@ickYjVi]m7aIkgck]m[PP=l
XKMnX`mh;on=CPk`hN [RlmYal]mE\gdm;ihm@`g`b`m?k^efhkge]mOfdkgk]mTRRJl
XKMnApPginMgkpUdPdN TJlmYal]mE\gdm;ihm@`g`b`m?k^efhkge]mOfdkgk]mTRR=l
Ejdjhi]m>hQkf]m8jhibm>hdif]m:fipjkgnQi\pmpl]mkdWd6jepnZWqlqinUon@qk[qn,molqin=qfloiqjqjn:kdYdidnUo
KCj`Y`i`N TlmYal]mE\gdmEkgiQm@`g`b`m?k^efhkge]mOfdkgk]m[PPPl
X`mhq_onXpmqaqN ?k^efm?Mfjcbjfim8ifkmOdXif]m6m[]m=lmYal]m6jbm?k^efjVi]m@kaeb]mTRRJlm
X`mhkomqjnSklgjnMqlpVgNn6m[]mEjgH\bkfm2kUjcjaim?k^efhkge]m>ackfY`h]m[PPRl
$h`Kk^]m<lm-kWkck^]mQkhnL`fk`ipjnX`mhnKoUkolkomqN TlmYal]m<ADm;jVhjcm@ickIhkge]mOfdkgk]m[PCJl
.kdfkpmpfgn:fipjkgn2jOofqnX`mhnM`kl`m`nM]j[mofqn@qkeqmqkomqN Ockc\gdm@\hc\gm<jgdjUim?k^efe]mOfdkgk]
[PPCl
$U`fKkgXehe]m>abkihm5kdde]m:fipjkgnKoUkolq6jqjnQkiq_onXoYhqk#lgN LlmYal]mE\gdmEkgiQm@`g`b`m?k^efhkge]mOfdkgk]
[P==l
%fkh]m<jQbjcmOhi]m:fipjkgnL`offofokomqnXpmqaqN @kg_jhjfm?k^efhkge]m7aIkgck]m[PPCl
/jhi_j_jZWh`]m5e9Uem/jh_jc]m@qmnGqfon2WmojOqfqjqjnLqkk'nL`OpeokonSjgkpmgN /kghedm?k^efjVi]m>ackfY`h]m[PC[l
?kV`U]m@`_gjcmAgjf]mAojqeojnAp\gkpjegmgkpjn=gjgJkpmnQ;qjnShlqJn2WmojionACjloikomqN 6jHjhim?k^efhkge]
Ofdkgk]mTRRJl
ZGZMXB:FQMnMSAFSMGSB
>ErH7Tr?Er7IboedOplq]jrpjhpmproedrlmn:al[TCN
all\cbbplpir[]Urlmbqjeor\a\3!p[o*Kom[q<Oomqh<OomqhF]*TED1
all\cbbplpir[]Urlmbqjeor\a\3!p[o*=]_koUKoioOkom<OomqhF]*1? :JlmAcdifhid]malmPGlNm
all\cbbplpir[]Urlmbqjeor\a\3!p[o*=]_koUKoioOkomqOomqhF]*TT>n:Ockc\gd3\fmaMU\]malmP[N
all\cbbeom[qkomrpjhpmproedrlmbeom[qkombT>bH7bT?Dr\eJ :"gjfam8kYkQkccif]malm=LF=JlN
all\cbbeom[qkomrpjhpmproedrlmbeom[qkombD1b1?DbI7EHr\eJ :@hkaidm ;Mfjb_jm AWicibjm @kcde_km D`h`fkf
;\X\f\ghjg]mAgU`g`bh`m>YgkQibm5kdde]malmC[lN
all\cbbeom[qkomrpjhpmproedrlmbeom[qkomb?Eb?I?b7>T7r\eJ :?kcem<jdcjIhjgi]malm[T[lN
all\cbbeom[qkomrpjhpmproedrlmbeom[qkomb?Eb7THb8H>>r\eJ :,kgkYi]malmLBFLClN
all\cbbhpmplp_rioVr[]Urlmbqjeor\a\3]\lq]j*O]i-O]jlojlUqoR*pmlqOkoqe*7E0oiqe*>In:Ockc\gd3\f
aMU\]malmJGlN
all\cbbioVr[]UrlmbioVbapfpjpkqbap_plqbapkqVq_][mpJqrali :5kakfmhim?\Hjh]malm[GPF[JRlN
all\cbbioUPdplrioVr[]Urlmbalikb>>ralik :<ihh0mAWicibmEjbjhm@kf`f`]malm[RPlN
all\cbb]]o[irioVr[]Urlmbqflplqflqkb]hdk-]jOofq-fp_qkpmq-[ojokr\eJn:al[[CN
all\cbbldmh]k]%qrOdroedrlmbSXSX.BMbrrrbfdko_ipj-V]Peoiqm-plpldmh-e]joiq-o[qlqi-[okqfiokomr\eJn:al
[[BlN
all\cbbRRRrplpir[]Urlm :<`ack9km@jbkhmOckc\gd3\fmAWicibm2Mg\Xhjgi]malmPBlN
all\cbbRRRrplpir[]Urlmbqjeor\a\3!p[o*=]_koUKoioOkom<OomqhF]*1? :[Rlm?ehm*`cd`]malmPPlN
all\cbbRRRro[qlqirphdroedrlmbplpTrali :Ockc\gdm;jVgimE\gdmAWicibi]malm[[GF[[JlN
all\cbbRRRro[qlqirphdroedrlmbplpDrali :Ockc\gdm;jVgimE\gdmAWicibim77]malm[[GF[[JlN
all\cbbRRRro[qlqirphdroedrlmbom[djTErali :>fakfm kQai^jcififm4h`Xbkaef_km1gfjdmEiIhjgifm1fjbimVjmDkcF
ckhm2kUimEiIi]malmLTlN
all\cbbRRRro[qlqirphdroedrlmbom[dj?ralin:?jciXcigihbjdm>acjfjfm>fakfmEiIi]malmLTlN
[BG
all\cbbRRRro[qlqirphdroedrlmbi]eomfrali :<j_gjajhjgifmDZU`hbkae]m<j_gjajhjg_jm4d`c`hkfm;jgahjg]mal
BBFBClN
all\cbbRRRro[qlqirphdroedrlmbfoj]kTTrali :TlmAcdifhid]m<j_gjaj]malmLJlN
all\cbbRRRro[qlqirphdrlmbom[djDali :AWicib_jm>hdm?jfihjXbjm5kgjdjchjgim*j_jfmVjm8Zf`Khkge]malmCTlN
all\cbbRRRro[qlqirphdrlmblolEHrali :<j_gjajhjg]malmGTlN
all\cbbRRRro[qlqirphdroedrlmblolEDralin:AWicib_jm?jfihjXbjm5kgjdjchjgi]malmCTlN
all\cbbRRRrqfkpiUolpfpUUdJr]m[b3*j]eobTHEI :AgU`g`bh`m>YgkQibm5kdde]malC[lN
all\cbbRRRrho[rphdroedrlmb_p_qjkpmbHEE>bOqklTbfp_qHbOTfH-Tr\eJ :m"gjfam8kYkQkccif]malm=LF=JlN
all\cbbRRRrioVr[]UrlmbapVomkombapVomp_mqjlqn:al[JN
all\cbbRRRrioVr[]Urlmb=lplfbS\hHEEHbTDTrali :alm[LN
all\cbbRRRrioVr[]Urlmb=lplfbS\hHEEHb7ETrali :<ADm>ackciacidmTRRT]malm[[C][TRF[T[lNmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
all\cbbRRRrioVr[]UrlmbflplfbqflHEETbV]kdiDfTrali :>ackciacidhjg]malm[GLlN
all\cbbRRRrioVr[]UrlmbflplfbqflI1bLA0XLGHralin:EkYhZ]malm[[BlN
all\cbbRRRrioVr[]Urlmbflplfbofhqqflplqflqhkomralin:EkYhZhkg]malm[[P]m[TR]m[TG]m[TClN
all\cbbRRRrllhVrioVr[]UrlmbfoOiokombfdmpbao_olq-qkiq_or\eJ :AWicibmOhkfef_km?kIehkfmEZIhkfcehkg]malmPBlN
all\cbbRRRrllhVrioVr[]UrlmbfoOiokombfdmpbfdmprali :AWicibmOhkfef_km?kIehkfmEZIhkfcehkg]m gkm@kgkghkge]
almPBlN
all\cbbRRRrdjqUomfqlo9l]\kdir]m[b\eJb\eJr\a\3qe*D?? :[PlmAcdifhid]malm[L[lN
all\cbbRRRr_djdfrapOollo\oroedrlmbdjpjbpOpeoiqOpmlqOkofralik :<j_gjajhjg]malmBJlN
all\cbb_p_qirioVr[]Urlmbeom[qkombT?DbTTrali : iig]malm[TClN
all\cbb_p_qirioVr[]Urlmbeom[qkombT8Ebedmfdj][kdrali :1Wgjcbjfm?jciXcigbjfifm2jhiXibi]malm[L=lN
all\cbb_p_qirioVr[]Urlmbeom[qkombT18bqjeoD9qOqjeohqkomralin:TLlmAcdifhid]malm=TlN
all\cbb_p_qirioVr[]Urlmbeom[qkombT?DbTralin:OY_\hbjHic3ifm,jgbkfe]malmCGlN
@S=<FKSF
6`bQ`gi^jc]mL[m@kf`f`mAVVjhm[PT=lm:@kgidkc\g]malm[LLlN
>d_kb]mEjbb`Um[PTLlm:BlmAcdifhid]malmPJlN
42B=ZGnMSAFSM+S
@pjpmkgNnFr=piqNnBofqikqnX`mhnZeoVq_plgnXpmqaqn:almTLN
Xr/rnM`kl`mnUonXdmqPin@phpjkgWgnLqkk'nM`l`\apjoNnSjhpmpn:almJ=N
Xr/rnM`kl`mnUonXdmqPin@phpjkgWgnLqkk'nM`l`\apjoNnSjhpmpn:almB=N
MpjeqkkqnBpfplapjofqnSmYqUqn:almCRN
=]jn@dkdYipNnqkiNnHEE>n(Xr/rnM`kl`mn@phpjkgWgjgjnhplhgkpmg_kp)n:almPTN
@ojpPdfNn0pjmqNnK`j_pnLqkkolkomqjqjn4CP`_konSlpl`mhn:alm[[LN
all\cbbRRRrioVr[]UrlmbioVbn:almPCN
all\cbbH?p[dfl]frioVrhTHrlmn:kgXiVN :;iIhZbk]malm[RlN
all\cbbeorpOpeoiqOrmdb\qOldmofbeoRqhqb11bLdfodi-Jdm-<jeqfOao-Mdjfl-Kpakoi-@omkqj-Lpq-HEE8-E8
?r%\[n:alm[RN
all\cbbRRRrVVpRreobJ]mfOadj[bldmJpjJ]mfOadj[belpbdbqip[ofbdEEE7foqloTr%\[n:almTLN
[BJ
RRRrVqk[qpmfqUqrO]in(apmqlpnfpeokoYlqmqkiqYlqmn)n:almLLN
all\cbbVojplkpfrO]ib3f*JpmpVqn:almLCN
all\cbbRRRrioefOp\orO]ibO]jlojlbHEE?bEEb?8b>?b?8>?7Hbpml9jJ?8>?7HrJq[8r%\[n:almLCN
_pPpmkqh_pPqkqiqrioVr[]Urlmn:5kgickmak_jhjXcigihbiXciglN :almG[N
S_egjnXqOpmoln@]mfpfgn(all\cbbRRRrp_eqjlVr[]UrlmbR\9O]jlojlbR]]-Odfl]ib>?9paqkqhEHr%\[)n:almGJN
all\cbbRRRrlmlrjolrlmbioe_pbmofqibHEEIbE8bH?beDopD7J>9T1Do9?eIO9VOoI9HTTpDooJ778?r%\[n:almLCN
all\cbbRRRra[hriqkrlmbO][mpJqdmdjhplpk][dbXoiplqhbmofqikomb]qfq_pfqr%\[n:5kgickmak_jhjXcigihbiXciglN :al
BRN
X]\hp\gn=pmp_gnL`Pofqn:OhibhjgmVjm1WgjfHihjg]m#jVfi] almBGN
all\cbbRRRrldmhprO]ibmofqikomko9[oOiqfloj9[djdidPo9o[qlqin:alm[LPN
Kq_pmVphgmkg]WkdNnLoaiolnSkqNnMp_V]kpjnLofkohkomn$on=]jn.flpkpmNnQflpjVdknXqOpmoln:epfgnBoaVomnMq9
lp\kpmnKqPqfqn:almGJN
[BB