%
%
!"#$%&'()*+((%!,-../%,"(+(%
%=120B%CDEC%
%
0123%&"*4/"$+(-%2'5"/%
!"/+(%65.45"77+%82!69%
%
0":-+5)*+%;./"*%<%="5>%?.-*(:.*+@A.')(%<%A)*$"%!,.::%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
!"#$%&'$(%)'$%*+(*'+(,%'$%*'+2%4>%'%$(+#($%,(C(54*(,%)#2"%>;3,$%>+4@%2"(%F('+$%=4;3,'2#436%2"+4;A"%2"(%(>>4+2$%
%4>%2"(%<O455%1(32+(%>4+%<4&#'5%I32+(*+(3(;+$"#*0%!"(%*;+*4$(%4>%2"($(%&'$($%#$%24%#3$*#+(%'%3()%A(3(+'2#43%4>%
5(',(+$%24%@'O(%'%*4$#2#C(%,#>>(+(3&(%#3%$4&#(2.0
%%
%!"#$%&'$(%)'$%*+(*'+(,%-.%/+0%1'2"(+#3(%/45'36%7'+.%84"3$243(9:4;#$6%'3,%/+0%:#3,'%<&4220%/+0%/45'3%#$%'%=(554)%4>%?+((3%!(@*5(243%
%1455(A(6%B3#C(+$#2.%4>%DE>4+,0%7'+.%84"3$243(9:4;#$%#$%'%/F"#5%1'3,#,'2(6%<'#,%G;$#3($$%<&"4456%B3#C(+$#2.%4>%DE>4+,0%/+0%<&422%#$%/F%
H4+5,%1"'#+%>4+%I32+(*+(3(;+$"#*%'3,%J334C'2#43%'2%2"(%<'#,%G;$#3($$%<&"4456%B3#C(+$#2.%4>%DE>4+,0%
%
%%
K%B3#C(+$#2.%4>%7'+&"%LMNL%
%
%
!"(%B3#C(+$#2.%4>%DE>4+,%@'O($%34%)'++'32#($%4+%+(*+($(32'2#43$%4>%'3.%O#3,%&43&(+3#3A%2"(%'&&;+'&.%4+%$;#2'-#5#2.%4>%2"(%#3>4+@'2#43%
&432'#3(,%"(+(#3%>4+%'3.%*;+*4$(0%P55%$;&"%#3>4+@'2#43%#$%*+4C#,(,%Q'$%#$R%'3,%)#2"%$*(&#>#&%,#$&5'#@(+%4>%'3.%)'++'32#($%4>%@(+&"'32'-#5#2.6%
>#23($$%>4+%*;+*4$(6%2#25(%'3,S4+%3439#3>+#3A(@(320%!"(%C#()$%(E*+($$(,%'+(%2"4$(%4>%2"(%&432+#-;24+$%'3,%'+(%342%3(&($$'+#5.%(3,4+$(,%%
-.%2"(%B3#C(+$#2.%4>%DE>4+,0%
%
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%
0123E%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
0"(+%
%
U#&O%<4;2"(+36%14;32+.%/#+(&24+%4>%1PVI%G'3A5',($"6%"',%'%542%24%&43$#,(+0%J2%)'$%<(*2(@-(+%
LMMW6%'3,%"(%)'$%A'2"(+(,%#3%'%@((2#3A%)#2"%<'#>%P5%V'$"#,%'3,%P$#>%B,,#3%P"@(,6%-42"%
*+4A+'@%@'3'A(+$%#3%1PVIX$%I&434@#&%/(C(54*@(32%B3#2%YI/BZ0%<'#>6%)"4%)'$%'5$4%2"(%
>4;3,(+%4>%1PVIX$%G'3A5',($"X$%V;+'5%<'5($%F+4A+'@%YV<FZ6%"',%[;$2%,(-+#(>(,%U#&O%'3,%P$#>%
43%'3%;3(E*(&2(,%*+4*4$'5%>+4@%2"(%-4'+,%4>%,'343(0&4@@;3#2#($%Y/1ZL%#3%/"'O'0%%
%
P2%2"(%2#@(6%2"(%V<F%)'$%'%3(2)4+O%4>%@4+(%2"'3%N6MMM%4>%G'3A5',($"X$%@4$2%@'+A#3'5#\(,%
)4@(36%('&"%2+'#3(,%-.%1PVI%24%(3A'A(%#3%$'5($%4>%&43$;@(+%A44,$%,44+9249,44+%'&+4$$%+;+'5%
G'3A5',($"0%=4+%@4$2%4>%2"($(%)4@(36%2"(%V<F%+(*+($(32(,%342%[;$2%2"(#+%>#+$2%4**4+2;3#2.%24%
('+3%'3%#3&4@(6%-;2%'5$4%2"(%>#+$2%4**4+2;3#2.%>4+%'3.%)4@'3%#3%2"(#+%>'@#5.%"#$24+.%24%,4%$40%
<#3&(%LMM]6%<'#>%'3,%5'2(+%P$#>%"',%$2+;AA5(,%24%-;#5,%2"(%V<F%>+4@%2"(%A+4;3,%;*%#3%$4@(%4>%
2"(%@4$2%&"'55(3A#3A%'+('$%4>%2"(#+%&4;32+.0%!"(.%"',%>'&(,%&+#2#&#$@%>+4@%2"(#+%&455('A;($6%
,#>>#&;52#($%)#2"%2"(#+%&4+*4+'2(%*'+23(+$6%'3,%5#@#2(,%>#3'3&#'5%$;**4+20%G;2%34)6%<'#>%"',%
+(&(#C(,%'3%4>>(+%>+4@%/1%2"'2%$((@(,%24%C#3,#&'2(%2"(#+%*(+$(C(+'3&(^%_`MM%2"4;$'3,%24%$&'5(%
2"(%V<F%#324%'%$4&#'5%(32(+*+#$(%Y<IZ6%+(*5#&'2#3A%2"(%@4,(5%2"+4;A"4;2%G'3A5',($"0%/1%
-(5#(C(,%2"#$%#3C($2@(32%&4;5,%2+'3$>4+@%2"(%V<F%>+4@%'3%U?D%*+4A+'@%'#@(,%'2%#3&4@(%
A(3(+'2#43%>4+%G'3A5',($"X$%@4$2%@'+A#3'5#\(,%)4@(3%#324%43(%4>%2"(%)4+5,X$%5'+A($2%Q$4&#'5%
-;$#3($$($R%(3A'A(,%)#2"%2"(%Q-4224@%4>%2"(%*.+'@#,R%YG4FZ%@'+O(20a%
%
P$%14;32+.%/#+(&24+6%"4)(C(+6%U#&O%O3()%2"'2%2"(%V<F%+(@'#3(,%'3%;3('$.%>#2%)#2"%1PVI%
G'3A5',($"X$%&4+(%'&2#C#2#($0%H"#5(%"#$%2)4%I/B%,#+(&24+$%"',%&43C#3&(,%"#@%2"'2%2"(%V<F%"',%
2"(%*42(32#'5%24%*+4C#,(%'%$;$2'#3'-5(%#3&4@(%>4+%@'+A#3'5#\(,%)4@(3%'3,%-+#3A%#@*4+2'32%
A44,$%24%"'+,9249+('&"%&4@@;3#2#($6%>4+%@'3.%4>%1PVIX$%$2'>>%2"(%@'+O(2%T%'3,%#3%*'+2#&;5'+%
@;52#3'2#43'5%&4+*4+'2#43$%Y7U1$Z%T%)'$%'%*+4-5(@6%342%'%$45;2#43%>4+%,(C(54*@(32%&43&(+3$0%%
/;+#3A%1PVIX$%`M%.('+$%4>%4*(+'2#43%#3%G'3A5',($"6%2"(%4+A'3#\'2#43%"',%-;#52%&+(,#-#5#2.%'$%'%
A+'$$+442$%4+A'3#\(+%'3,%',C4&'2(%43%-("'5>%4>%C;53(+'-5(%A+4;*$6%($*(&#'55.%)4@(3%'3,%A#+5$6%
'3,%)'$%)#,(5.%+($*(&2(,%>4+%#2$%)4+O%43%+(5#(>6%&4@@;3#2.%@4-#5#\'2#43%'3,%>44,%$(&;+#2.0%!"(%
4+A'3#\'2#43%4*(+'2(,%A54-'55.%;3,(+%2"(%-'33(+%4>%Q/(>(3,#3A%,#A3#2.6%>#A"2#3A%*4C(+2.R6%'%
&4@@#2@(32%2"'2%+($43'2(,%$2+43A5.%)#2"%2"(%+(>4+@#$2%(2"4$%4>%@'3.%1PVI%$2'>>0%G;2%
#3&+('$#3A5.6%1PVIX$%,434+$%)(+(%(@*"'$#\#3A%'3%'**+4'&"%24%,(C(54*@(32%2"'2%)'$%@'+O(29
-'$(,6%-;$#3($$%4+#(32(,6%'3,%>#3'3&#'55.%$;$2'#3'-5(0%U#&O%$(3$(,%'%$('%&"'3A(%;3,(+)'.^%
>(+C4;+%4C(+%10b0%F+'"'5',X$%G4F%2"($#$6%2"(%*+4@42#43%4>%@#&+4>#3'3&(%$&"(@($%'&+4$$%
G'3A5',($"6%'3,%$;**4+2%>4+%*+#C'2(%$(&24+%$45;2#43$%24%*4C(+2.%$((@(,%24%-(%&"'3A#3A%2"(%
5'3,$&'*(%4>%,(C(54*@(32%*+'&2#&(6%(C(3%#>%@;&"%4>%"#$%$2'>>%)(+(%+(5;&2'32%24%(@-+'&(%#20%
%
J2%)'$%342%2"'2%U#&O%,#,%342%$"'+(%@'3.%4>%"#$%$2'>>X$%&43&(+3$0%%c(%"#@$(5>%"',%)4+O(,%>4+%
1PVI%T%'3,%#3%'32#*4C(+2.%*+4A+'@$%A54-'55.%T%>4+%,(&',($0%G;2%)"(3%43(%4>%1PVI%
%
N
%I$2'-5#$"(,%#3%2"(%B3#2(,%<2'2($%#3%NWd]6%1PVI%#$%43(%4>%2"(%)4+5,X$%5'+A($2%3439A4C(+3@(32'5%4+A'3#\'2#43$%YU?D$Z%,(,#&'2(,%24%+(5#(>%
'3,%,(C(54*@(320%!4%5('+3%@4+(%'-4;2%1PVI%'3,%2"(#+%)4+O6%C#$#2^%"22*^SS)))0&'+(04+A0%
L
%,'343(0&4@@;3#2#($6%'%@;2;'5%>;3,%,($#A3(,%24%(3&4;+'A(%$4&#'5%-;$#3($$%#3#2#'2#C($6%)'$%5';3&"(,%-.%/'343(%#3%LMMe0%J2%#$%@'3'A(,%
'3,%@'+O(2(,%-.%2"(%1+f,#2%PA+#&45(%A+4;*%Y"22*^SS)))0,'343(&4@@;3#2#($0&4@S(3S,'343(9&4@@;3#2#($Z0%
a
%F+'"'5',%YLMMdZ%#3#2#'55.%,(>#3(,%2"(%-4224@%4>%2"(%*.+'@#,%YG4FZ%'$%2"(%d%-#55#43%*(4*5(%#3%,(C(54*#3A%&4;32+#($%)"4%5#C(%43%5($$%2"'3%gL%
*(+%,'.0%c(%'+A;(,%2"'2%2"#$%$4&#49(&434@#&%,(@4A+'*"#&%+(*+($(32$%'3%;32'**(,%&43$;@(+%@'+O(2%>4+%@;52#3'2#43'5%&4+*4+'2#43$6%)"4%
&4;5,%-(%$(+C(,%2"+4;A"%#334C'2#C(%*+4,;&2$%'3,%$(+C#&($0%
%
C
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
G'3A5',($"X$%5'+A($2%,434+$6%2"(%1'3',#'3%J32(+3'2#43'5%/(C(54*@(32%PA(3&.%Y1J/PZ6%
$#A3'55(,%2"'2%2"(.%)4;5,%(3,%>;3,#3A%>4+%2"(%V;+'5%7'#32(3'3&(%F+4A+'@%YV7FZ6%'3%#3&4@(9
A(3(+'2#43%&'$"9>4+9)4+O%*+4A+'@%1PVI%"',%-((3%+;33#3A%>4+%,(&',($6%-(&';$(%#2%)'$%
#3$;>>#&#(325.%@'+O(2%-'$(,6%"(%O3()%2"(%2#,(%)'$%2;+3#3A0%V7F%"',%@',(%;*%'%$;-$2'32#'5%
*4+2#43%4>%1PVIX$%4*(+'2#3A%-;,A(2%#3%G'3A5',($"0%J2$%&54$;+(%)'$%'%$#A3#>#&'32%-54)%24%U#&O%
'3,%"#$%2('@X$%'32#*4C(+2.%'3,%(@*4)(+@(32%)4+O%'&+4$$%2"(%&4;32+.0%U4)%/1%*+4*4$(,%342%
435.%;3*+(&(,(32(,%5(C(5$%4>%>;3,#3A%>4+%'%1PVI%G'3A5',($"%*+4A+'@6%-;2%4>>(+(,%24%(C(32;'55.%
-(&4@(%'%aah%$"'+("45,(+%#3%'%*42(32#'55.%*+4>#2@'O#3A%C(32;+(%)#2"%2"(%U?D6%)"#&"%)4;5,%
4)3%2"(%+(@'#3#3A%`eh0%
%
c4)(C(+6%2"(%i;($2#43%4>%)"(2"(+%'3,%"4)%1PVI%G'3A5',($"%&4;5,%#@*5(@(32%$;&"%'3%
'**+4'&"%+(@'#3(,%'3%4*(3%43(0%/(-'2(%'-4;2%2"(%,(C(54*@(32%#@*'&2%4>%@#&+4954'3$%'3,%2"(%
'-#5#2.%4>%2"(%*+#C'2(%$(&24+%24%&'2'5.\(%*4C(+2.%+(,;&2#43%)'$%+4;2#3(%'@43A%1PVI%$2'>>%'3,%
>#(5,%*'+23(+$0%U#&O%O3()%'%*'+23(+$"#*%-(2)((3%1PVI%G'3A5',($"%'3,%/1%T%'%A54-'55.%A+4;3,9
-+('O#3A%U?D9*+#C'2(%$(&24+%".-+#,%T%)4;5,%+(*+($(32%'%&4;*%>4+%1PVI%#3%2"(%(.($%4>%@'3.%
,434+$%'3,%@(,#'%$2'O("45,(+$0%G;2%(C(3%'>2(+%2"(#+%>#+$2%,(-+#(>6%#2%)'$%&5('+%-42"%24%<'#>%'3,%
U#&O%2"'2%2"(%,(&#$#43%24%'&&(*2%7U1%#3C($2@(32%'3,%$*#3%2"(%V<F%4;2%#324%'3%U?D97U1%
4)3(,%$4&#'5%(32(+*+#$(%)'$%>'+%>+4@%$2+'#A"2>4+)'+,0%%
%
%
G-+%2!6%)*%0.*:+H:%%
%
!"(%V<F%)'$%-4+3%#3%'%&432(E2%4>%"(#A"2(3(,%A54-'5%#32(+($2%#3%-;$#3($$%'**+4'&"($%24%*4C(+2.%
'55(C#'2#430%B3#5(C(+X$%F+4[(&2%<"'O2#6%'%+;+'5%,#$2+#-;2#43%$.$2(@%2"'2%;$($%'%3(2)4+O%4>%>(@'5(%
(32+(*+(3(;+$%24%$(55%&43$;@(+%A44,$%,44+9249,44+%#3%J3,#'6%)'$%+(A;5'+5.%&#2(,%#3%2"(%-;$#3($$%
*+($$%'$%'3%(E'@*5(%4>%-;$#3($$95(,%*4C(+2.%'55(C#'2#430d%<#@#5'+%$'5($%$.$2(@$%)(+(%*4**#3A%
;*%'&+4$$%2"(%)4+5,%$(55#3A%(C(+.2"#3A%>+4@%(&49>+#(3,5.%$24C($%24%@(,#&'5%A44,$6%@4$2%4>2(3%
)4+O#3A%2"+4;A"%3(2)4+O$%4>%)4@(30%=+4@%'%,(C(54*@(32%*4#32%4>%C#()6%2"($(%$.$2(@$%&5'#@(,%
24%#3&+('$(%'&&($$%24%5#>(9#@*+4C#3A%A44,$%>4+%2"(%*44+%'3,%24%(&434@#&'55.%(@*4)(+%)4@(3%-.%
*+4C#,#3A%2"(@%'3%4**4+2;3#2.%24%$(55%A44,$%,44+%24%,44+%'$%Q@#&+49(32+(*+(3(;+$R0%=+4@%'%
-;$#3($$%*4#32%4>%C#()6%$;&"%*+4A+'@$%)(+(%'22+'&2#C(%342%435.%,;(%24%2"(#+%*42(32#'5%$4&#'5%
#@*'&26%-;2%'5$4%'$%'%@('3$%4>%'&&($$#3A%3()%@'+O(2$%'3,%*42(32#'5%&43$;@(+$0%H#2"%$'5($%>4+%
&43$;@(+%A44,$%>5'2%#3%@'3.%DI1/%&4;32+#($6%>#+@$%+'3A#3A%>+4@%14&'9145'%24%F+4&2(+%j%
?'@-5(%$')%(@(+A#3A%@'+O(2$%'$%'%&+;&#'5%$4;+&(%4>%>;2;+(%A+4)2"0%%%
%
<(C(+'5%$;&"%$&"(@($%)(+(%'5+(',.%;3,(+)'.%#3%G'3A5',($"0%/1%)'$%)4+O#3A%)#2"%
74"'@@(,%k;3;$X%?+'@((3%?+4;*%24%$&'5(%;*%,(@'3,%>4+%'3,%,#$2+#-;2#43%4>%54)9&4$2%&;*$%4>%
"#A"93;2+#2#43%.4A;+2%'@43A%+;+'5%"4;$("45,$%)#2"%2"(%'#@%4>%&4@-'2#3A%&"#5,%@'53;2+#2#430]%
?+'@((3%"',%'5+(',.%*#43((+(,%'%@;&"%C';32(,%QC#55'A(%*"43(%5',#($R%*+4A+'@%2"+4;A"%)"#&"%
+;+'5%>(@'5(%@#&+4%(32+(*+(3(;+$%$45,%*"43(%2#@(%#3%'+('$%-(.43,%2"(%$&4*(%4>%+(2'#50%1PVI%
$2'>>%"',%342(,%$;&"%#334C'2#43$6%4>2(3%)#2"%'%,(A+((%4>%-(@;$(@(326%)"#5(%&432#3;#3A%2"(#+%
)4+O%43%A(3,(+%(@*4)(+@(326%5'3,%+#A"2$6%'3,%&4@@;3#2.%4+A'3#\#3A0%%
%
%
d
%<((6%>4+%(E'@*5(^%lc::%F+4[(&2%<"'O2#%24%&4C(+%'55%V;+'5%J3,#'X%YLMMdZ6%=#3'3&#'5%IE*+($$6%LMMd6%'&&($$(,%NM%7'.%LMNN6%
"22*^SS)))0>#3'3&#'5(E*+($$0&4@S3()$S"559*+4[(&29$"'O2#9249&4C(+9'559+;+'59#3,#'SNMM]`]S0%%
]%
!"#$%#3#2#'2#C(%+(*+($(32(,%2"(%-#+2"%4>%?+'@((3%/'343(%=44,$%:2,0%Y?/=:Z6%,'343(0&4@@;3#2#($X%>4;3,#3A%*+4[(&20%
%
F
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
c4)(C(+6%)"(3%,434+%>;3,$%>4+%V7F6%2"(%543A9+;33#3A%&'$"9>4+9)4+O%$&"(@(%,+#(,%;*6%1PVI%
-(A'3%24%+(&43$#,(+%2"(%+45(%2"'2%-;$#3($$%&4;5,%*5'.%#3%+(,;&#3A%*4C(+2.6%*'+2#&;5'+5.%'@43A%
)4@(30%H4@(3%#3%+;+'5%G'3A5',($"%>4+@%2"(%@'[4+#2.%4>%2"(%&"+43#&'55.%*44+0%J3%@;&"%4>%2"(%
&4;32+.6%2"(%2+',#2#43'5%*+'&2#&(%4>%!"#$%&@('3$%)4@(3%,4%342%5('C(%2"(%"4@(%;3'&&4@*'3#(,0%
7'3.%"'C(%3(C(+%@',(%'%*;+&"'$(%4+%"'3,5(,%@43(.6%'3,%A44,$%>4+%>(@'5(%&43$;@(+$%T%
+'3A#3A%>+4@%&542"#3A%24%&432+'&(*2#43%T%'+(%2.*#&'55.%*;+&"'$(,%2"+4;A"%@'5(%+(5'2#C($0%P%
)4@'3X$%>#3'3&#'5%$(&;+#2.%'3,%(C(3%*".$#&'5%$;+C#C'5%'+(%4>2(3%5#3O(,%24%@'5(%>'@#5.%@(@-(+$6%
5('C#3A%)#,4)$6%$#3A5(%@42"(+$6%'3,%)4@(3%)"4$(%";$-'3,$%'+(%#55%4+%42"(+)#$(%,#$'-5(,%'2%
+#$O%4>%,($2#2;2#430%I@*54.@(32%4*2#43$%>4+%)4@(3%#3%$;&"%&#+&;@$2'3&($%'+(%C#+2;'55.%
343(E#$2(32^%>4+@'5%(@*54.@(32%#$%5#@#2(,%>4+%-42"%@(3%'3,%)4@(3%'55%4C(+%G'3A5',($"6%'3,%
)4@(3X$%#3>4+@'5%5'-4;+%#$%2.*#&'55.%;3+(@;3(+'2(,%4+%*'#,%2"+4;A"%-'+2(+%4>%$2'*5($0%!"4;A"%
@#&+4>#3'3&(%54'3$%"'C(%-((3%)#,(5.%'C'#5'-5(%24%)4@(3%#3%G'3A5',($"%>4+%@4+(%2"'3%'%,(&',(%
T%)#2"%)4@(3%#3%@'3.%+;+'5%'+('$%"45,#3A%@;52#*5(%@#&+4%54'3$%'2%43&(%'2%'3.%A#C(3%2#@(%T%
>(@'5(9+;3%+;+'5%@#&+4(32(+*+#$($%+(@'#3%+'+(%2"+4;A"4;2%2"(%&4;32+.0%%
%
?54-'55.6%1PVIX$%4+A'3#\'2#43'5%*5'2>4+@%4>%A(3,(+%(@*4)(+@(32%*5'&($%$#A3#>#&'32%(@*"'$#$%
43%)4+O#3A%'543A$#,(%)4@(3%'3,%A#+5$%'$%-(3(>#&#'+#($`0%=+4@%"#$%>#+$2%)((O$%)4+O#3A%'2%1PVI%
#3%LMMd6%<'#>%"',%,(C(54*(,%'%*'+2#&;5'+%+'**4+2%)#2"%43(%$;&"%)4@'36%G'3#%m'@'36%'%)#,4)(,%
@42"(+%4>%2"+((%5#C#3A%#3%2"(%>544,9*+43(%+(A#43%4>%V'3A*;+%#3%U4+2"(+3%G'3A5',($"0%!"4;A"%
G'3#%,#,%342%O34)%"(+%(E'&2%'A(6%$"(%($2#@'2(,%$"(%"',%-((3%@'++#(,%)"(3%$"(%)'$%NL%4+%Na%
.('+$%45,6%'$%)'$%&;$24@'+.%>4+%"(+%'+('0%:#O(%'$%@'3.%4>%nMh%4>%)4@(3%#3%'+('$%4>%+;+'5%
G'3A5',($"6%G'3#%"',%5#225(%>4+@'5%$&"445#3A%'3,%)'$%;3'-5(%24%+(',%4+%)+#2(0%H"#5(%@'++#(,6%"(+%
)4+5,%)'$%&43>#3(,%24%"(+%#395')$X%"4@(6%)"(+(%$"(%$;**4+2(,%"(+%@42"(+9#395')%#3%"4;$("45,%
2'$O$6%&'+(,%>4+%"(+%(5,(+5.%>'2"(+9#395')6%'3,%@'#32'#3(,%2"(%>'@#5.%C(A(2'-5(%A'+,(30%<O#55(,%'2%
-'+2(+%'3,%"4;$("45,%@'3'A(@(326%$"(%4>2(3%2+',(,%C(A(2'-5($%>+4@%"(+%A'+,(3%)#2"%>(@'5(%
3(#A"-4;+$%>4+%$2'*5($%5#O(%&542"%4+%+#&(0%B32#5%"(+%";$-'3,X$%,('2"6%G'3#%"',%3(C(+%)'5O(,%"(+%
C#55'A(%;3'&&4@*'3#(,%4+%@',(%'%*;+&"'$(%'2%'%54&'5%$"4*0%%
%
<#3&(%"(+%";$-'3,X$%,('2"%'3,%$;-$(i;(32%&43>5#&2%)#2"%"(+%#395')$6%'55%2"'2%"',%&"'3A(,^%G'3#%
"',%>4;3,%"(+$(5>%,($2#2;2(%'5@4$2%4C(+3#A"20%!"(%1PVI%4>>#&(%#3%V'3A*;+%+(*4+2(,%2"'2%)"(3%
2"(.%>#+$2%@(2%"(+6%G'3#%'3,%"(+%&"#5,+(3%)(+(%+(A;5'+5.%$((3%-(AA#3A6%+(5#'32%43%"'3,4;2$%24%
$;+C#C(0%1PVI%"',%4>>(+(,%G'3#%'%*5'&(%#3%V7F%'3,%>4+%>#C(%.('+$%G'3#%$)(*2%+;+'5%*'C(@(32%
'3,%,#,%-'$#&%+4',%@'#32(3'3&(%)#2"%"(+%.4;3A($2%,';A"2(+%3(E2%24%"(+%'$%'3%V7F%(@*54.((6%
*;22#3A%"(+%$43%2"+4;A"%$&"445%'2%2"(%54&'5%'%(#%)%%)"#5(%"(+%45,($2%,';A"2(+%)4+O(,%'$%'%
"4;$(O((*(+%#3%/"'O'6%$(3,#3A%$@'55%+(@#22'3&($%-'&O%24%V'3A*;+%>+4@%2"(%'A(%4>%NM0%
%
<'#>%'3,%U#&O%O3()%G'3#X$%$24+.6%'3,%2"4$(%4>%2"4;$'3,$%5#O(%"(+0%!(3$%4>%2"4;$'3,$%4>%
G'3A5',($"X$%@4$2%@'+A#3'5#\(,%)4@(3%T%@'3.%4+*"'3$%4+%)#,4)$%T%"',%+(5#(,%43%2"(%V7F%
*+4A+'@%>4+%+(A;5'+%#3&4@(%2"+4;A"4;2%#2$%,(&',($%4>%2(3;+(0%c4)%&4;5,%1PVI%*+4C#,(%
'52(+3'2#C(%(@*54.@(32%24%2"4$(%)4@(3%)"4%,(*(3,(,%43%2"(%*+4A+'@o%
%
%
%
%
`
%<((6%>4+%(E'@*5(6%1PVIX$%l!4*%NM%7.2"$%P-4;2%H4@(3X%>4+%2"(%NMM2"%'33#C(+$'+.%4>%J32(+3'2#43'5%H4@(3X$%/'.6%'&&($$#-5(%'2^%
"22*^SS)))0&'+(04+ASA(2#3C45C(,[email protected]"-;$2(+$S#3,(E0'$*0%%
%
I
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
&)5:-%.K%:-+%2!6L%6-)/"*:-5.M>%K.5%&1G1%!-.+(%
%
J3%V7FX$%)'O(6%,(2(+@#3#3A%)"(2"(+%@'+O(29-'$(,%'**+4'&"($%&4;5,%,(5#C(+%+(5#'-5(%#3&4@(%
>4+%)4@(3%5#O(%G'3#%-(&'@(%<'#>X$%*(+$43'5%'3,%*+4>($$#43'5%@#$$#430%P2%>#+$2%-5;$"6%<'#>%
'**('+(,%'3%;35#O(5.%>#2%>4+%'3%U?D0%c(%"',%+(&(325.%[4#3(,%1PVI%'$%'3%;*9'3,9&4@#3A%
@'+O(2#3A%@'3'A(+6%*+(C#4;$5.%+(&+;#2(,%24*%4>%"#$%&5'$$%24%G+#2#$"%P@(+#&'3%!4-'&&4X$%YGP!Z%
G'3A5',($"%4>>#&(%'$%2"(%&4@*'3.%)'$%2"(%435.%#32(+3'2#43'5%>#+@%+(&+;#2#3A%2"'2%.('+%#3%/"'O'0%
G;2%)"#5(%&;2%>+4@%'%,#>>(+(32%&542"6%<'#>%O3()%G'3A5',($"X$%-'&O%+4;2($%'3,%"'@5(2$%'$%)(55%'$%
'3.%1PVI%>#(5,%$2'>>0%U42%435.%"',%"(%A+4)3%;*%#3%43(%4>%G'3A5',($"X$%C#55'A($6%-;2%"#$%
(E*(+#(3&(%'2%GP!%2';A"2%"#@%24%Q+(',R%'%+;+'5%&4@@;3#2.p%342%2"+4;A"%-(3(>#&#'+.%@'*$%4+%
*4C(+2.%#3,#&($%-;2%2"+4;A"%@'+O(2%$(A@(32$%'3,%*4#32$%4>%$'5(0%U#&O%-+4;A"2%<'#>%43%-4'+,%#3%
LMMd%)#2"%2"(%"4*(%2"'2%"(%)4;5,%"(5*%1PVI%+($*43,%24%2"(%#3&+('$(,%@'+O(2%4+#(32'2#43%4>%#2$%
,434+$6%'**5.#3A%"#$%-;$#3($$%$O#55$%24%,(C(54*%>#3'3&#'55.%$;$2'#3'-5(%*+4A+'@$%2'+A(2(,%'2%
#@*+4C#3A%2"(%5#C($%4>%2"(%*44+0%B3,(+%U#&OX$%,#+(&2#436%<'#>%-(&'@(%2"(%>4;3,(+%'3,%$45(%
@(@-(+%4>%1PVI%G'3A5',($"X$%I&434@#&%/(C(54*@(32%B3#2%YI/BZ0%
%
P5@4$2%'$%$443%'$%"(%[4#3(,%1PVI6%<'#>X$%*+#@'+.%&43&(+3%-(&'@(%"4)%24%>#55%2"(%C4#,%5(>2%-.%
2"(%2(+@#3'2#43%4>%V7F%>4+%)4@(3%'&+4$$%G'3A5',($"0%c#$%GP!%-'&OA+4;3,%$;AA($2(,%2"'2%2"(%
i;#&O($2%)'.%24%*+4C#,(%'3%#3&4@(%$2+('@%>4+%)4@(3%)'$%342%24%$((O%',,#2#43'5%,434+%>;3,#3A6%
-;2%+'2"(+%24%2+'#3%V7FX$%)4+O>4+&(%24%(3A'A(%#3%$'5($0%<'#>%O3()%2"'2%>(554)%-;$#3($$%$&"445%
'5;@3#%)4+O#3A%'2%2"(%>'$29@4C#3A%&43$;@(+%A44,$%Y=71?Z%A#'32%B3#5(C(+%#3%/"'O'%)(+(%
*#43((+#3A%#334C'2#43$%#3%+;+'5%$(55#3A^%'%*+4A+'@%&'55(,%QF455.,;2"R%(@*54.(,%@(3%24%,#$2+#-;2(%
*+4,;&2$%)#2"%C'3$%'3,%-#&.&5($%)"#5(%'342"(+%&'55(,%Q84.((2'R%(@*54.(,%+;+'5%)4@(3%'$%,44+9
249,44+%$'5($*(4*5(%24%2'+A(2%@4$25.%>(@'5(%&43$;@(+$%-(.43,%F455.,;2"X$%+('&"0%H#2"%1PVI%
(@-(,,(,%#3%G'3A5',($"X$%+;+'5%&4@@;3#2#($%'3,%"4;$("45,$%24%'%,(A+((%B3#5(C(+%&4;5,%435.%
,+('@%4>6%<'#>%)'$%4*2#@#$2#&%2"'2%"(%&4;5,%,;*5#&'2(%'3,%$&'5(%$;&"%(E#$2#3A%@4,(5$6%&+('2#3A%
5'+A(9$&'5(%(@*54.@(32%>4+%)4@(3%5#O(%G'3#%m'@'3%'3,%(C(32;'55.%,(C(54*#3A%'%3()%
,#$2+#-;2#43%&"'33(5%>4+%A44,$%@',(%-.%+;+'5%(32(+*+#$($0%c4)(C(+6%343(%4>%1PVIX$%#3&4@(9
A(3(+'2#43%*+4A+'@$%)(+(%(i;#**(,%24%*+4,;&(%*+4,;&2$%4>%$;>>#&#(32%C45;@(%4+%+(A;5'+#2.%24%
$24&O%'%$'5($%&"'33(5^%<'#>%3((,(,%$4@(2"#3A%24%$(550%%
%
!"(%'3$)(+%4>%)"'2%24%$(55%&'@(%#3%'%@4$2%;3(E*(&2(,%>4+@0%P$%2"(%$24+.%A4($6%2"(%"(',%4>%
1PVI%1'3','%'3,%2"(%"(',%4>%A54-'5%$"4(%@'3;>'&2;+(+%GP!P%+(A;5'+5.%*5'.(,%A45>%24A(2"(+%#3%
!4+43246%'3,%"',%>'55(3%#324%,#$&;$$#43$%'-4;2%10b0%F+'"'5',X$%G4F%2"($#$6%2"(%>'2(%4>%2"(%
)4@(3%#3%1J/PX$%V7F%*+4A+'@6%'3,%2"(%*4$$#-#5#2.%4>%;$#3A%-;$#3($$%'$%'%@('3$%24%)4@(3X$%
(&434@#&%(@*4)(+@(320%D3(%,'.6%&43C(+$'2#43%43%2"(%A45>%&4;+$(%2;+3(,%24%2"(%>'&2%2"'2%$"4($%
)(+(%34%$@'55%@'22(+%#3%@;&"%4>%+;+'5%G'3A5',($"0%G'3A5',($"X$%)(2%*5'3($%'+(%$4'O(,%)#2"%
A+4;3,)'2(+%&432'#3#3A%"#A"%5(C(5$%4>%'+$(3#&0%=4+%+;+'5%>'@#5#($6%$"4($%'+(%'3%(E*(3$#C(%+'+#2.6%
'3,%A4#3A%'-4;2%,'#5.%)4+O%-'+(>442%&'3%@('3%'5@4$2%&43$2'32%(E*4$;+(%24%'+$(3#&0%!"4;A"%
$2;,#($%"',%342%&43>#+@(,%2"'2%$"4($%&4;5,%*+(C(32%'+$(3#&%(E*4$;+(6%2"(%1PVI%'3,%GP!P%
"(',$%-(5#(C(,%2"'2%2"(.%&4;5,%*42(32#'55.%-+#3A%-42"%"('52"%'3,%$4&#'5%-(3(>#2$%24%+;+'5%
&4@@;3#2#($%2"+4;A"%'%*'+23(+$"#*0%%!"(.%,#$&;$$(,%2"(%*4$$#-#5#2.%4>%(E*'3,#3A%$"4(%
,#$2+#-;2#43%#324%+;+'5%'+('$6%*42(32#'55.%;$#3A%$4@(2"#3A%'O#3%24%B3#5(C(+X$%>'@4;$%<"'O2#%@4,(50%
J2%)'$%342%543A%-(>4+(%'3%(@'#5%*+4*4$#3A%$;&"%'3%#3#2#'2#C(%)'$%$(32%>+4@%GP!P%@'3'A(@(32%
'3,%1PVI%1'3','%24%U#&O%'3,%GP!PX$%,#+(&24+%#3%/"'O'0%%
%
%
J
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
U#&O%A'C(%<'#>%2"(%A+((3%5#A"2%24%*;+$;(%2"(%*+4*4$#2#43%'3,%<'#>%+;$"(,%24%$(2%;*%'%@((2#3A%)#2"%
2"(%7'3'A#3A%/#+(&24+%4>%GP!P%G'3A5',($"0%P2%2"(%$2'+26%GP!P%C#()(,%#2%'$%'%)'.%4>%(E*'3,#3A%
2"(#+%*"#5'32"+4*.%-.%&432+#-;2#3A%24%)4@(3X$%(&434@#&%(@*4)(+@(32%#3%G'3A5',($"6%'3,%'5$4%
4>%5('+3#3A%'-4;2%+;+'5%@'+O(2$%)"#&"%2"(.%"',%'%"'+,%2#@(%*(3(2+'2#3A0%:('C#3A%2"(%@((2#3A%
)#2"%GP!P6%<'#>%2"4;A"2%#@@(,#'2(5.%4>%'%A+4;*%4>%dW%)4@(3%)"4%"',%[;$2%-((3%5(2%A4%>+4@%2"(%
>#3'5%+4;3,%4>%V7FX$%*+4A+'@%#3%2"(%U'24+(%,#$2+#&2%#3%H($2(+3%G'3A5',($"0%F#2&"#3A%2"(%#,('%4>%
'%*#542%24%U#&O%-'&O%'2%1PVI6%<'#>%(C(32;'55.%$(&;+(,%gL]6MMM%$((,%>;3,#3A%24%*;2%24A(2"(+%'%
$'5($%+4;2(%2"'2%&4++($*43,(,%24%'3%43A4#3A%1PVI%*+4A+'@%)4+O#3A%)#2"%$(5>%"(5*%)4@(3X$%
A+4;*$%43%#$$;($%$;&"%'$%,4)+.%'3,%)4@(3X$%+#A"2$0%c(%,+'>2(,%-'$#&%-;$#3($$%2+'#3#3A%
@'2(+#'5$%'3,%'A+((,%2"'2%GP!P%)4;5,%*'.%,#$2+#-;24+$%2"(#+%$2'3,'+,%+(2'#5%&4@@#$$#43%4>%LLh0%
P%43(9@432"%',C'3&(%43%$"4($%)4;5,%-(%*+4C#,(,%24%)4@(3%;3'-5(%24%'>>4+,%#3C(324+.6%'3,%
1PVI%)4;5,%A;'+'32((%2"#$%',C'3&(0%GP!P%,43'2(,%-+'3,(,%-'A$%>+4@%)"#&"%)4@(3%&4;5,%
*;+C(.%2"(#+%A44,$0%%
%
!"4;A"%"(%"(5*(,%$(&;+(%$((,%>#3'3&#'5%$;**4+2%>4+%2"(%*#5426%U#&O%)'$%'@-#C'5(32%'-4;2%2"(%
GP!P%#3#2#'2#C(0%<"4;5,%2"(%+;+'5%*44+%$*(3,%@43(.%43%*5'$2#&%$"4($%2"'2%"',%34%*+4C(3%)(5>'+(%
-(3(>#2%)"(3%2"(.%$4%4>2(3%$2+;AA5(,%24%'>>4+,%3;2+#2#43'5%$2'*5($%4+%$&"445%>(($%>4+%>(@'5(%
&"#5,+(3o%%H"#5(%[;$2%'$%('A(+%'$%<'#>%24%$(&;+(%'%+(5#'-5(%#3&4@(%$2+('@%>4+%>4+@(+%V7F%
*'+2#&#*'32$6%U#&O%'5$4%)43,(+(,%)"(2"(+%1PVI%)'$%#3',C(+2(325.%$;-$#,#\#3A%GP!PX$%-4224@%
5#3(0%!"4;A"%<'#>%(C(32;'55.%&43C#3&(,%"#@%2"(%&4@*'3.X$%@42#C($%)(+(%*"#5'32"+4*#&6%342%
(C(+.43(%)#2"#3%1PVI%)'$%&43C#3&(,%'3,%$(C(+'5%$2'>>%@(@-(+$%(E*+($$(,%$(+#4;$%
+($(+C'2#43$0%<4@(%>('+(,%2"'2%,44+9249,44+%$(55#3A%T%'%&5('+%-+('&"%4>%!"#$%&&4@@;3#2.%34+@$%
T%@#A"2%'>>(&2%)4@(3X$%$2'3,#3A%#3%2"(#+%&4@@;3#2#($%'3,%*42(32#'55.%;3,(+@#3(%1PVIX$%@4+'5%
#3>5;(3&(%#3%G'3A5',($"0%1PVIX$%H4@(3X$%I@*4)(+@(32%B3#26%>4+%(E'@*5(6%"',%'%543A%"#$24+.%
4>%A(3,(+%#32(+C(32#43%*+4A+'@$%#3%U'24+(6%'3,%2"($(%+(5#(,%43%@(2#&;54;$%&43$(3$;$%-;#5,#3A%
'3,%')'+(3($$9+'#$#3A0%J2%244O%#3&+(,#-5(%2#@(%'3,%+($4;+&($%>4+%1PVI%24%-;#5,%'%&4@@;3#2.X$%
2+;$2%24%2"(%*4#32%2"'2%2"(.6%'$%'%>4+(#A3%U?D6%&4;5,%',,+($$%,((*5.%&;52;+'5%#$$;($%$;&"%'$%
A(3,(+%34+@$%)#2"%'3.%&+(,#-#5#2.0%U#&O%>('+(,%2"'2%(3&4;+'A#3A%)4@(3%24%,4%$4@(2"#3A%'$%
&4;32(+9&;52;+'5%'$%$(55#3A%,44+9249,44+%@#A"2%&';$(%$(+#4;$%4>>(3$(%4+%)4+$(%*;2%)4@(3%#3%
,'3A(+0%1PVI%)'$%)(55%')'+(%2"'2%2"(%*+4C#$#43%4>%@#&+4>#3'3&(%54'3$%#3%+;+'5%G'3A5',($"%
4>2(3%*+(&#*#2'2(,%A(3,(+%C#45(3&(6%'3,%U#&O%)43,(+(,%"4)%1PVI%'3,%GP!P%)4;5,%(3$;+(%
)4@(3X$%$'>(2.%$"4;5,%2"(#+%('+3#3A$%-(A#3%24%A+4)0%%
%
<2#55%42"(+$%+'#$(,%&43&(+3$%'-4;2%2"(%#3>4+@'5#2.%4>%2"(%(@*54.@(32%2"(%$&"(@(%A(3(+'2(,0%J2%
)'$6%2"(.%'+A;(,6%34%+(*5'&(@(32%>4+%2"(%$(&;+#2.%4>%2"(%V7F%&'$"9>4+9)4+O%$&"(@(6%#3%)"#&"%
)4@(3%)(+(%*'#,%'%*+(,#&2'-5(%$'5'+.%>4+%2"(#+%5'-4;+0%k(2%)"(3%U#&O%'3,%<'#>%+'#$(,%2"($(%
&43&(+3$%24%1PVIX$%>#(5,%$2'>>%#3%U'24+(6%@4$2%4>%)"4%)(+(%-4+3%'3,%+'#$(,%#3%2"(%U'24+(%
+(A#436%2"(.%*'5(,%#3%$#A3#>#&'3&(%&4@*'+(,%24%2"(%,($2#2;2#43%5(>2%#3%2"(%)'O(%4>%2"(%V7F0%!"(%
U'24+(%2('@%'A+((,%24%)4+O%&54$(5.%)#2"%2"(%&4@@;3#2.%24%"(5*%GP!P%$'5($)4@(3%-(&4@(%
54&'55.%'&&(*2(,%'3,%+(@'#3%C#A#5'32%24%'3.%$#A3$%4>%A(3,(+%C#45(3&(0%<'#>%)'$%A#C(3%2"(%A49
'"(',%>4+%2"(%GP!P%*#5420%%J3%7'+&"%LMM]6%dW%)4@(3%>+4@%U'24+(%-(A'3%$(55#3A%GP!P%$"4($%
,44+9249,44+%#3%H($2(+3%G'3A5',($"#%C#55'A($%Y<((%IE"#-#2%N^%IE*'3$#43%4>%V<F%LMM]9LMNMZ0&
%
%
%
%
N
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
G-+%&1G1%65.45"7L%!++$(%.K%:-+%2'5"/%!"/+(%65.45"7%
%
<'#>X$%A4'5$%>4+%2"(%GP!P%*+4A+'@%,;+#3A%2"(%LMM]%*#542%)(+(%$(C(+'50%=#+$2%'3,%>4+(@4$26%"(%
)'32(,%24%&+('2(%'3%4**4+2;3#2.%>4+%+;+'5%)4@(3%)#2"%>()%@'+O(2'-5(%$O#55$%'3,%54)%5(C(5$%4>%
5#2(+'&.%24%('+3%'3%#3&4@(%#3,(*(3,(32%4>%,434+%$;**4+20%<(&43,6%2"4;A"%@4$2%G4F%,#$2+#-;2#43%
&"'33(5$%'+4;3,%2"(%)4+5,%2(3,(,%24%-(%*+4*+#(2'+.%4+%4>>(+%'%$#3A5(%&'2(A4+.%4>%*+4,;&2$6%<'#>%
"4*(,%24%,(C(54*%'%&"'33(5%2"'2%&4;5,%&'++.%'%,#C(+$(%-'$O(2%4>%A44,$6%#3&5;,#3A%@(,#&'5%#2(@$%
'3,%54&'55.9*+4,;&(,%*+4,;&2$0%c(%O3()%2"'2%2"'2%2"(%-#AA($2%";+,5($%+;+'5%@#&+4(32(+*+#$($%
>'&(,%#3%G'3A5',($"%)'$%24%>#3,%'%@'+O(2%>4+%2"(#+%A44,$0%<'#>%$;$*(&2(,%2"'2%2'**#3A%#324%2"(%
,(@'3,%4>%)4@(3%)"4%)(+(%;3'-5(%24%$"4*%T%-;2%'-5(%24%-;.%4+%2+',(%>+4@%42"(+%)4@(3%)"4%
C#$#2(,%2"(@%'2%"4@(%T%&4;5,%;354&O%'%@'+O(2%>4+%+;+'5%A44,$%2"'2%"',%*+4C(,%$4%(5;$#C(0%
%
k(26%'$%2"(%GP!P%*#542%@4C(,%2"+4;A"%#2$%>#+$2%.('+%4>%5#>(6%<'#>%-(&'@(%@4+(%&#+&;@$*(&20%G.%
/(&(@-(+%LMM]6%;*43%2"(%&4@*5(2#43%4>%2"(%*#5426%2"(%('+3#3A$%4>%)4@(3%#3%2"(%GP!P%*+4A+'@%
)(+(%54)%+(5'2#C(%24%42"(+%1PVI%#3&4@(9A(3(+'2#3A%'&2#C#2#($%'3,%'5$4%"#A"5.%C'+#'-5(0%D>%2"(%dW%
V7F%)4@(3%)"4%)(+(%2+'#3(,%'3,%$2'+2(,%2"(%*+4A+'@%#3%7'+&"%LMM]6%435.%L`%)(+(%$2#55%'&2#C(%
-.%2"(%(3,%4>%2"(%$'@(%.('+%T%2"(%42"(+$%$45,%435.%C(+.%#++(A;5'+5.%4+%,+4**(,%4;2%(32#+(5.0%
1'++.#3A%'%"('C.%-'A%4>%$"4($%'&+4$$%+(@42(%+;+'5%'+('$%-.%>442%)'$%2'E#3A%5'-4;+%Y<((%IE"#-#2%
L^%GP!P%<'5($)4@(36%G'3A5',($"Z0%G;2%2+'3$*4+26%(C(3%-.%+#&O$"')6%&;2%#324%GP!P%
$'5($)4@(3X$%'5+(',.%@('A+(%('+3#3A$0%P,,#2#43'55.6%$"4($%)(+(%'%"#A"9&4$26%#3>+(i;(32%
*;+&"'$(0%V;+'5%>'@#5#($%@'#32'#3(,%2"(%"'-#2%4>%$"'+#3A%43(%*'#+%'3,%;$#3A%2"(@%;32#5%2"(.%)4+(%
4;26%435.%>4+%3(A'2#C(%)4+,%4>%@4;2"%24%$*+(',%#3%$4@(%'+('$%2"'2%GP!P%$"4($%)(+(%*44+5.%
@',(0%%
%
<'#>%)'$%,#$&4;+'A(,%-;2%;3,';32(,0%!+'C(55#3A%24%U'24+(6%"(%'3,%54&'5%1PVI%$2'>>%#32(+C#()(,%
'55%La%#3'&2#C(%GP!P%$'5($)4@(3%24%#,(32#>.%)"(+(%2"(%*#542%"',%A43(%)+43A0%I'&"%@(32#43(,%
2"(%,(@'3,#3A%*".$#&'5%5'-4;+%'$%)(55%'$%,#>>#&;52%'3,%#++(A;5'+%$'5($0%P,,#2#43'55.6%'3,%,($*#2(%
1PVI%>#(5,%$2'>>X$%-($2%(>>4+2$%)#2"%2"(%U'24+(%&4@@;3#2.6%@'3.%)4@(3%"',%54$2%2"(%)#55%24%
&432#3;(%$(55#3A%$"4($%-(&';$(%2"(.%)(+(%2#+(,%4>%-(#3A%4-[(&2$%4>%+#,#&;5(6%&"'$(,%-.%&"#5,+(3%
)"4%*4O(,%>;3%'2%2"(@%>4+%)'5O#3A%;3'&&4@*'3#(,6%'3,%)(+(%)4+3%,4)3%-.%',;52$%)"4%
'**('+(,%24%-(%)"#$*(+#3A%-("#3,%2"(#+%-'&O$%>4+%-+('O#3A%!"#$%%34+@$0%!"4;A"%)4@(3%
$((@(,%24%>#3,%#2%244%*(+$43'5%24%',@#2%24%"#@%,#+(&25.6%<'#>X$%U'24+(%&455('A;(%#3%1PVIX$%
H4@(3X$%I@*4)(+@(32%,#C#$#43%+(*4+2(,%2"'2%$(C(+'5%)4@(3%"',%&43>($$(,%24%"(+%2"'2%
24;&"#3A%'%$2+'3A(%@'3X$%>((2%#3%4+,(+%24%>#2%"#@%>4+%$'3,'5$%"',%-((3%43(%4>%2"(#+%@4$2%
";@#5#'2#3A%5#>(%(E*(+#(3&($0%%P$%$;&"%>((,-'&O%@',(%#2$%)'.%24%2"(%/"'O'%4>>#&(6%@'3.%1PVI%
$2'>>%>(52%2"(%)"45(%'**+4'&"%;3,(+@#3(,%2"(%Q,(>(3,#3A%,#A3#2.R%@#$$#43%2"'2%,(>#3(,%2"(%U?D%
A54-'55.0%U#&O%'+A;(,%2"'2%-(&';$(%1PVI%"(5,%2"(%+#$O%>4+%;3$45,%A44,$%*+4C#,(,%-.%GP!P6%2"(%
*+4A+'@%)'$%;3$;$2'#3'-5(%#3%#2$%*#542%>4+@0%P2%2"(%$'@(%2#@(6%GP!P%-(A'3%24%)43,(+%)"(2"(+%
2"#$%)'$%2"(%O#3,%4>%*"#5'32"+4*.%2"(#+%>#+@%)'32(,%24%$;**4+2%'3,%#3%/(&(@-(+%LMM]%'$O(,%>4+%
2"(%*#542%24%-(%&54$(,0%%
%
<'#>X$%#32(+*+(2'2#43%4>%2"(%*#542%)'$%,#>>(+(320%c(%$')%2"(%GP!P%@4,(5%342%'$%'%i;#&O9)#3%
*"#5'32"+4*#&%C(32;+(6%-;2%'$%'%*4$$#-5(%543A92(+@%$4&#'5%-;$#3($$%#334C'2#43%43%2"(%*'+2%4>%
1PVI6%43(%2"'2%&4;5,%$(+C(%'$%'3%(E(@*5'+%>4+%*4C(+2.%+(,;&2#43%2"+4;A"4;2%+;+'5%G'3A5',($"0%
!"4;A"%)4@(3X$%('+3#3A$%>+4@%2"(%*+4A+'@%)(+(%342%"#A"%,;+#3A%2"(%*#542%Y'C(+'A(%ddd%2'O'%
@432"5.Z6%2"(.%)(+(%343(2"(5($$%43%*'+%)#2"%1PVIX$%'A+#&;52;+'5%#3&4@(%A(3(+'2#3A%*+4[(&2$%
%
O
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
YJ?F$Z%Y'C(+'A(%-(2)((3%aMM9eMM%*(+%@432"Z0%=;+2"(+@4+(6%)"(+('$%)4@(3%>'&(,%34%;*>+432%
&4$2$%)#2"%2"(%V<F%'3,%&4;5,%-(A#3%24%('+3%'3%#3&4@(%>+4@%,'.%43(6%1PVIX$%'A+#&;52;+'5%J?F$%
+(i;#+(,%'3%;*9>+432%#3C($2@(32%#3%#3*;2$%'3,S4+%'3#@'5$%'3,%244O%'-4;2%`%@432"$%24%+(&4;*%
#3C($2@(320%
%
<'#>%)'$%&43C#3&(,%2"'2%,($*#2(%2"(%&"'55(3A($%4>%2"(%*#5426%2"(.%)(+(%"(',(,%#3%2"(%+#A"2%
,#+(&2#430%D*2#@#$@%'-4;2%G4F%,#$2+#-;2#43%$.$2(@$%)'$%A+4)#3A%#3%A54-'5%*45#&.%'3,%
@'3'A(@(32%&#+&5($%'3,%"(%"',%+(&(325.%"('+,%2"'2%B3#5(C(+X$%84.((2'%*+4A+'@%)'$%'#@#3A%24%
,(C(54*%NM9N]6MMM%+;+'5%$'5($)4@(3%'&+4$$%G'3A5',($"6%)4+O#3A%#3%C(+.%@;&"%2"(%$'@(%$2.5(%
'$%1PVIX$%GP!P%$'5($)4@(30%<'#>%)43,(+(,%"4)6%+'2"(+%2"'3%'-'3,43#3A%#26%"(%&4;5,%(E*'3,%
2"(%GP!P%*+4A+'@0%
%
P$%<'#>%5(>2%U'24+(6%2+'C(55#3A%2"+4;A"%+;+'5%G'3A5',($"%43%2"(%543A%-;$%+#,(%24%/"'O'%$4@(2"#3A%
&5#&O(,^%2"(%GP!P%*+4A+'@%3((,(,%2"(%$'@(%54A#&%"(%"',%O34)3%$4%)(55%'2%GP!^%24-'&&4%
*;+&"'$($%)(+(%+'+(5.%$2'3,'543(%*;+&"'$($%#3%+;+'5%@'+O(2$0%V'2"(+6%GP!%+(5#(,%43%$(&;+#3A%
*+($(3&(%'2%O(.%*4#32$%4>%$'5(%>4+%2"(%@'[4+#2.%4>%2"(#+%+;+'5%*;+&"'$($0%<'#>%)(32%-'&O%24%/"'O'%
+($45C(,^%H".%342%;$(%1PVIX$%)(559($2'-5#$"(,%*4C(+2.%+;-+#&%24%#,(32#>.%)4@(3%$4%
@'+A#3'5#\(,%2"'2%2"(.%&4;5,%&5'#@%$4@(%#@@;3#2.%>+4@%34+@$%$;&"%'$%!"#$%%T%'3,%*5'&(%GP!P%
$"4($%#3%'%@#E(,%-'$O(2%4>%A44,$6%'554)#3A%)4@(3%24%*',%2"(#+%#3&4@($%'3,%5#A"2(3%2"(#+%
+(5#'3&(%43%"('C.6%#3>+(i;(32%*;+&"'$(%$"4($o%%
%
P$%"(%)'2&"(,%2"(%O#4$O$%*'$$6%('&"%43(%$2'>>(,%'3,%>+(i;(32(,%-.%@(3%Y<((%IE"#-#2%a^%=#(5,%
F"4246%b#4$O$6%G'3A5',($"Z6%"(%*#&2;+(,%2"(#+%>(@'5(%&4;32(+*'+2$%'2%"4@(6%;3'-5(%24%-;.6%$(556%
4+%'&&($$%2"(%@'+O(20%J3%2"'2%@4@(326%<'#>%-(&'@(%+($45C(,^%"(%)4;5,%$((%>(@'5(%(&434@#&%
(E&5;$#43%#3%"#$%&4;32+.%342%'$%'3%4-$2'&5(6%-;2%'$%'3%4**4+2;3#2.0%%
%
Q5.7%6-)/"*:-5.M),%:.%&'()*+((%R+*:'5+%
%
!"(%',,#2#43%4>%P$#>%B,,#3%P"@(,%24%2"(%1PVI%2('@%#3%LMM`%*+4C#,(,%<'#>%)#2"%'3%'55.%#3%"#$%
+(3()(,%@#$$#430%P$#>%"',%(E2(3$#C(%(E*(+#(3&(%#3%-42"%2"(%*+#C'2(%$(&24+%'3,%#32(+3'2#43'5%
,(C(54*@(32%)4+O6%'3,%)'$%2";$%)(55%*5'&(,%24%+(*+($(32%1PVIX$%*+#C'2(%$(&24+%#3#2#'2#C($%24%
2"(%@(,#'6%,434+$6%'3,%&4+*4+'2(%$2'O("45,(+$0%!4A(2"(+%#3%LMM`6%2"(.%'**+4'&"(,%B3#5(C(+%
)#2"%'%*+4*4$'5%24%',,%2"(%>#+@X$%&43$;@(+%A44,$%24%2"(%(@(+A#3A%V<F%&"'33(50%/#5#*%b'-#+6%
O34)3%24%-42"%<'#>%'3,%P$#>%>+4@%2"(#+%;3#C(+$#2.%,'.$6%+'3%B3#5(C(+%G'3A5',($"X$%+;+'5%
@'+O(2#3A%*+4A+'@$6%'3,%)'$%('A(+%24%&43$#,(+%<'#>X$%*+4*4$'50%/#5#*%'3,%"#$%2('@%"',%
$2+;AA5(,%24%+('&"%)"'2%2"(.%($2#@'2(,%24%-(%e]h%4>%G'3A5',($"#%&43$;@(+$%)"4%5#C(,%#3%+;+'5%
'+('$0%V;+'5%2+'3$*4+2%'3,%&4@@;3#&'2#43%#3>+'$2+;&2;+(%)'$%*44+%'3,%2"(%@43$443%$('$43%5(>2%
(32#+(%'+('$%3('+5.%;3+('&"'-5(%>4+%'$%@;&"%'$%2"+((%@432"$%4>%2"(%.('+0%V;+'5%(&434@#&%
'&2#C#2.%)'$%>+'A@(32(,%'3,%4>2(3%#3>4+@'5%T%/#5#*%245,%<'#>%"#$%2('@%($2#@'2(,%+;+'5%@'+O(2$%
A(3(+'2(,%'$%@;&"%'$%"'5>%'%@#55#43%I;+4$%>4+%B3#5(C(+%#3%G'3A5',($"6%-;2%2"'2%2"#$%-;$#3($$%
*'$$(,%2"+4;A"%@4+(%2"'3%nMM%2"4;$'3,%#3,(*(3,(32%+(2'#5%O#4$O$0%V;+'5%#3&4@($%T%($*(&#'55.%
&'$"%#3&4@($%T%)(+(%54)6%)#2"%,'#5.%B3#5(C(+%$'5($%'2%(C(3%'%-;$.%'%O#4$O%+(*+($(32#3A%5($$%
2"'3%B</gd0%%
%
<'#>%)'$%&43>#,(32%2"'2%"(%&4;5,%-44$2%B3#5(C(+X$%$'5($%'3,%(E*4$;+(%24%+;+'5%@'+O(2$%-.%',,#3A%
2"(#+%A44,$%24%2"(%V<F0%/#5#*%'A+((,6%-;2%2)4%$2#&O#3A%*4#32$%i;#&O5.%(@(+A(,0%=#+$26%B3#5(C(+%
%
P
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
$(3#4+%@'3'A(+$%)(+(%$;$*#&#4;$%4>%A#C#3A%;*%2"(#+%*+4*+#(2'+.%&"'33(56%,(C45C#3A%&432+45%4>%
-+'3,%,#$2+#-;2#43%#3%3()%@'+O(2$%24%'3%4;2$#,(%(32#2.%T%($*(&#'55.%'3%U?D%)#2"%)"#&"%2"(.%"',%
3(C(+%)4+O(,0%<(&43,6%2"(%>#+@%)'$%+(5;&2'32%24%3(A42#'2(%&4@@#$$#43%>4+%1PVI0%!"(%1PVI%
*'+23(+$"#*%)'$%'%&4$29&;22#3A%(>>4+2%>4+%B3#5(C(+^%/#5#*X$%@'3'A(+$%'A+((,%2"'2%'%NMh%
&4@@#$$#43%)4;5,%-(%*'#,%24%V<F%$'5($)4@(3%#3%5#3(%)#2"%)"'2%2"(.%;$;'55.%4>>(+(,%+(2'#5(+$6%
-;2%'+A;(,%2"'2%&4@@#$$#43%24%1PVI%)'$%4;2%4>%2"(%i;($2#430%H"(3%U#&O%A42%)#3,%4>%2"#$6%#2%
+(#A3#2(,%"#$%&43&(+3$%'-4;2%(3A'A#3A%)#2"%2"(%*+#C'2(%$(&24+0%!"(%5'&O%4>%&4@@#$$#43%>4+%
1PVIX$%)4+O%&"'>(,0%c(%)43,(+(,^%H'$%2"#$%l*'+23(+$"#*%)#2"%2"(%*+#C'2(%$(&24+X%+('55.%'%
*'+23(+$"#*%'2%'55o%%%
%
<'#>%'3,%P$#>%;3,(+$244,%U#&OX$%+($(+C'2#43$0%G;2%2"(.%)(+(%&43C#3&(,%2"'2%#2%)4;5,%342%2'O(%
543A%>4+%B3#5(C(+%24%+('5#$(%1PVIX$%(&434@#&%&432+#-;2#430%74+(4C(+6%2"(.%>(52%&4@@#$$#43%
*'.@(32$%24%1PVI%)4;5,%-(%($$(32#'5%>4+%2"(%V<F%24%)4+O%#3,(*(3,(325.%4>%,434+%$;**4+20%P$#>%
-(A'3%,(,#&'2#3A%$#A3#>#&'32%2#@(%'3,%(>>4+2%24%,(C(54*#3A%'%$2+'2(A.%24%-(22(+%'+2#&;5'2(%"4)%
#3,#$*(3$'-5(%1PVI%)'$%24%-;#5,#3A%'%$;&&($$>;5%+;+'5%,#$2+#-;2#43%&"'33(50%
%
T1%U.7"*%U-.%$.+(%*.:%",,+M:%$+K+":V%
%
!"+4;A"4;2%LMM`6%<'#>%'3,%P$#>%&432#3;(,%3(A42#'2#43$%)#2"%B3#5(C(+%'3,%'5$4%+('&"(,%4;2%24%
42"(+%@;52#3'2#43'5%'3,%G'3A5',($"9-'$(,%>#+@$0%H"(3%342%3(A42#'2#3A%(E2(+3'55.6%<'#>%#3%
*'+2#&;5'+%)4+O(,%2#+(5($$5.%43%2"(%@4,(5%)#2"#3%1PVI6%-+'3,#3A%2"(%(>>4+2%#32(+3'55.%'$%2"(%
l1PVI%V;+'5%<'5($%F+4A+'@%YV<FZX%'#@(,%'2%)4@(3X$%(&434@#&%(@*4)(+@(320%c(%-(&'@(%
>5;(32%)#2"%1PVIX$%A54-'5%5'3A;'A(%43%)4@(3X$%(@*4)(+@(326%'3,%$2+'2(A#\(,%43%"4)%2"(%
V<F%@#A"2%>#2%)#2"%1PVIX$%A54-'5%QJ%P@%F4)(+>;5R%&'@*'#A36%)"#&"%$4;A"2%24%+'#$(%')'+(3($$%
4>%1PVI%'$%'%)4@(3X$%(@*4)(+@(32%4+A'3#\'2#43%#3%,434+%&4;32+#($%Y<((%IE"#-#2%d^%1PVI%
?54-'5%1'@*'#A36%lJ%P@%F4)(+>;5XZ0%J3%',,#2#436%"(%$*(32%"4;+$%*4+#3A%4C(+%&"'+2$%'3,%$2'2#$2#&$%
A'2"(+(,%-.%V7F%'3,%42"(+%1PVI%#3&4@(9A(3(+'2#43%*+4A+'@$%>+4@%'&+4$$%G'3A5',($"6%
$&4*#3A%4;2%2"(%$#\(%4>%'%*4$$#-5(%@'+O(2%>4+%&43$;@(+%A44,$%'+4;3,%2"(%&4;32+.0%%
%
B$#3A%$;+C(.$%&455(&2(,%>+4@%1PVI%)4@(3X$%(@*4)(+@(32%A+4;*$6%"(%&"4$(%)4@(3%24%2+'#3%
>4+%2"(%V<F%>+4@%2"4$(%)"4%2.*#&'55.%@'+O(,%2"(#+%)((O$%-.%"4)%>()%Q>;55%$24@'&"R%@('5$%2"(.%
&4;5,%*+4C#,(%2"(#+%&"#5,+(3p%"4)%@'3.%2#@($%2"(.%"',%24%('2%+#&(%)"(3%2"(.%)#$"(,%>4+%'%@('5%
&432'#3#3A%@('2%4+%C(A(2'-5($0%B3$;+*+#$#3A5.6%)"(3%(E'@#3#3A%2"(%$2'2#$2#&$6%"(%>4;3,%@'3.%4>%
2"($(%(E2+(@(5.%*44+%)4@(36%5#O(%G'3#%m'@'36%5'&O(,%'%";$-'3,%4+%&54$(%@'5(%+(5'2#C(0%DC(+%
2#@(6%2"($(%)4@(3%#3C45C(,%#3%2"(%V<F%&'@(%24%-(%O34)3%'2%1PVI%'$%QP*'+'[#2'$R6%'%2(+@%>4+%
Q'%)4@'3%)"4%,4($%342%'&&(*2%,(>('2R0%H#2"%P$#>6%<'#>%,(C#$(,%'%$.$2(@%4>%)4+O#3A%2"+4;A"%
(E#$2#3A%1PVI%)4@(3X$%(@*4)(+@(32%A+4;*$%5(>2%;3,(+(@*54.(,%-.%2"(%V7F%&54$;+(6%'3,%-.%
<(*2(@-(+%LMM`%4C(+%aMM%)4@(3%)(+(%'&2#C(%#3%2"(%*+4A+'@0%%%
%
U#&O%)'2&"(,%2"(%V<F%)4+O%24%>#3,%#2$%>((26%'55%2"(%)"#5(%>#(5,#3A%&+#2#&#$@%>+4@%&455('A;($%)"4%
i;($2#43(,%)"(2"(+%1PVIX$%$&'+&(%>;3,#3A%$"4;5,%-(%'554&'2(,%24%'%*+4A+'@%'#@(,%'2%-44$2#3A%
&43$;@*2#43%4>%@'3;>'&2;+(,%A44,$%'@43A%2"(%*44+0%I&434@#$2$%'2%2"(%4+A'3#\'2#43%'+A;(,%
2"'2%2"(%V<F%)4;5,%>'&(%@'+O(2%$'2;+'2#43%'$%2"(%3;@-(+%4>%P*'+'[#2'$%#3%2"(%*+4A+'@%
#3&+('$(,6%(+4,#3A%)4@(3X$%@'+A#3$%'3,%*42(32#'55.%,((*(3#3A%2"(#+%*4C(+2.0%%!"(.%'5$4%+'#$(,%
i;($2#43$%'-4;2%2"(%,#$*5'&(@(32%(>>(&2$%43%42"(+%(32+(*+(3(;+$6%)"4%&4;5,%-(%(,A(,%4;2%4>%
-;$#3($$%-.%&4@*(2#2#43%>+4@%2"(%P*'+'[#2'$0%U#&O%)'$%,((*5.%$.@*'2"(2#&%24%$;&"%&43&(+3$0%
%
S
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
c4)(C(+6%"(%O3()%"4)%&54$(5.%<'#>%@'3'A(,%2"(%P*'+'[#2'%+4;2($%24%'C4#,%&4@*(2#2#430%c(%'5$4%
*4#32(,%4;2%2"'2%+;+'5%(&434@#($%2.*#&'55.%(E&5;,(,%)4@(3%(32#+(5.6%'%$#2;'2#43%"#$%4+A'3#\'2#43%
&4;5,%342%'&&(*20%H"#5(%U#&O%&432#3;(,%24%>#A"2%2"($(%>#+($%#32(+3'55.6%-.%@#,%LMM`%3()$%"',%
$*+(',%2"'2%2"(%4+A'3#\'2#43%)'$%3(A42#'2#3A%)#2"%B3#5(C(+0%U#&O%'-+;*25.%>4;3,%"#@$(5>%
#3;3,'2(,%)#2"%'3%;3*+(&(,(32(,%$5()%4>%$(3#4+%C#$#24+$%>+4@%,434+%'A(3&#($6%@(,#'%'3,%
&4+*4+'2#43$6%'55%('A(+%24%$((%'3%(E'@*5(%4>%'%+;+'5%,#$2+#-;2#43%$.$2(@%2"'2%&4;5,%-+#3A%24A(2"(+%
*+4>#2%'3,%$4&#'5%#@*'&20%%
%
!"(%C#$#2$%)(+(%*#C42'5%24%2"(%>;2;+(%,#+(&2#43%4>%2"(%V<F0%U#&O6%<'#>6%'3,%P$#>%)(+(%$;+*+#$(,%24%
>#3,%>+4@%2"(#+%@.+#',%A;($2$%2"'2%)(559O34)3%G4F%'**+4'&"($6%#3&5;,#3A%?+'@((3X$%&(5(-+'2(,%
QC#55'A(%*"43(%5',#($R6%c#3,;$2'3%B3#5(C(+X$%F+4[(&2%<"'O2#6%'3,%(C(3%B3#5(C(+%G'3A5',($"X$%
84.((2'%*+4A+'@%)(+(%$2+;AA5#3A%24%@'3'A(%*(+$433(5%#3%+;+'5%'+('$%'-4;2%)"#&"%2"(.%O3()%
5#225(6%)#2"%&4$2$%+;33#3A%"#A"%'3,%$&'5(%+(@'#3#3A%(5;$#C(0%J2%-(&'@(%&5('+%24%<'#>%'3,%P$#>%2"'2%
1PVI%*4$$($$(,%C'5;'-5(%#3$#A"2%'-4;2%'3,%'&&($$%24%+;+'5%(&434@#($%2"'2%7U1$%4>2(3%,#,%
3420%J2%)'$%2#@(%24%@'O(%2"(#+%@4C(0%!
%
1*%WXY%1$$)*4%R"/'+%
%
H"(3%<'#>%'3,%P$#>%5('+3(,%2"'2%B3#5(C(+X$%84.((2'%*+4A+'@%"',%342%+('&"(,%#2$%*+4[(&2(,%NM9
N]6MMM%+;+'5%$'5($)4@(3%2"(.%"',%2"(%'@@;3#2#43%2"(.%3((,(,%24%+(C#$#2%2"(%&4@@#$$#43%#$$;(%
)#2"%B3#5(C(+0%G+4'&"#3A%2"(%24*#&%)#2"%/#5#*6%<'#>%>4;3,%"#@%+(',.%24%2'5O0%/#5#*%'3,%"#$%2('@%
&43>($$(,%2"'2%F455.,;2"%"',%@',(%"(',)'.%#3%+;+'5%O#4$O$6%-;2%2"'2%#2%&4;5,%342%*+4C#,(%#3+4',$%
24%>(@'5(%&43$;@(+$%)"4%*+'&2#&(,%!"#$%%'3,%2";$%$2'.(,%'2%"4@(0%%84.((2'$%)(+(%$;**4$(,%24%
>#55%2"'2%A'*%-.%$(55#3A%B3#5(C(+%#2(@$%,44+9249,44+%-;2%)(+(%342%$;&&((,#3A0%%
%
H"(3%#,(32#>.#3A%84.((2'$6%/#5#*X$%2('@%"',%+(&+;#2(,%)4@(3%>+4@%+;+'5%@#&+4>#3'3&(%5(3,#3A%
A+4;*$6%'$$;@#3A%2"(.%)4;5,%342%435.%"'C(%'&&($$%24%2"(%B</ge9NM%,4)3%*'.@(32%+(i;#+(,%>4+%
#3C(324+.6%-;2%'5$4%(E*4$;+(%24%-;$#3($$%2+'#3#3A%2"+4;A"%2"(#+%@#&+4>#3'3&(%5(3,(+$0%c4)(C(+6%
84.((2'%"',%(E*(+#(3&(,%,+4*4;2%'3,%#3'&2#C#2.%+'2($%$#@#5'+%24%1PVIX$%GP!P%*#5426%>'55#3A%>+4@%
'%"#A"%4>%d6MMM%84.((2'$%+(&+;#2(,%24%5($$%2"'3%N6MMM0%7'3'A#3A%(C(3%2"#$%$@'55%&',+(%"',%
*+4C(,%(E2+(@(5.%,(@'3,#3A%>4+%/#5#*X$%2('@p%,($*#2(%2"(#+%(E*4$;+(%24%@#&+4>#3'3&(6%@'3.%
)4@(3%$2#55%"',%34%-;$#3($$%2+'#3#3A%'3,%+(i;#+(,%$;**4+2%#3%-'$#&%5#2(+'&.%'3,%>4+@'5%3;@(+'&.%
-(>4+(%2"(.%&4;5,%+(*4+2%2"(#+%$'5($%24%B3#5(C(+0%84.((2'$%2(3,(,%24%-;.%2"(%$@'55($2%*4$$#-5(%
'@4;32%4>%#3C(324+.6%>('+#3A%#3C($2@(32%#3%A44,$%2"'2%,#,%342%$(550%G;2%2"#$%5(>2%2"(%&4$2%4>%
,#$2+#-;2#43%'3,%@'3'A(@(32%4>%2"(%84.((2'%&"'33(5%'$2+434@#&'55.%"#A"6%'$%@;&"%'$%Neh%4>%
2"(%>#3'5%$'5(%&4$20%%
%
P$%#2%2;+3(,%4;26%B3#5(C(+X$%>5'A$"#*%+;+'5%,#$2+#-;2#43%*+4A+'@6%F+4[(&2%<"'O2#%#3%J3,#'6%)'$%#3%'%
$#@#5'+%$2'2(%T%$4%@;&"%$46%/#5#*%&43>#,(,6%2"'2%c#3,;$2'3%B3#5(C(+%@'3'A(+$%"',%,(&#,(,%342%24%
',,%'3.%@4+(%)4@(3%24%2"(%*+4A+'@6%'3,%)(+(%&43$#,(+#3A%$"#>2#3A%#2%>+4@%'%-;$#3($$%24%'%
&4+*4+'2(%$4&#'5%+($*43$#-#5#2.%Y1<VZ%#3#2#'2#C(0%G;26%/#5#*X$%$;*(+C#$4+%)'$%>#+@^%$;&&($$%>4+%
B3#5(C(+%#3%G'3A5',($"%@('32%$;&&($$%#3%2"(%+;+'5%@'+O(20%84.((2'%"',%24%-(&4@(%&4$29
(>>(&2#C(0%%
%
<'#>%+(@'#3(,%&43>#,(32%2"'2%1PVIX$%#3$#A"2%'3,%@'3'A(@(32%4>%2"(%V<F%$.$2(@%)4;5,%
+(*+($(32%+('5%',,(,%C'5;(%>4+%B3#5(C(+0%J3%3(A42#'2#43$%'&+4$$%2"(%5'22(+%"'5>%4>%LMM`6%"(%
%
ED
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
(@*"'$#\(,%1PVIX$%O(.%C'5;(%',,(,^%+(,;&(%2;+34C(+%-.%$(5(&2#3A%$'5($)4@(3%)"4%)(+(%
5#O(5.%24%$2'.%'&2#C(%'3,%,(C(54*#3A%'**+4*+#'2(%2+'#3#3A%>4+%>(@'5(%(32+(*+(3(;+$%'3,%
&4@@;3#2.%@(@-(+$%24%&+('2(%'&&(*2'3&(%4>%2"(%>(@'5(%$'5($)4@(36%'3,%24%$&'5(%-.%+(&+;#2#3A%
',,#2#43'5%&4@*'3#($%#324%2"(%$.$2(@%24%-44$2%4C(+'55%$'5($0%!4%<'#>6%#2%)'$%&+.$2'5%&5('+%T%
1PVIX$%&432+#-;2#43%24%2"(%&+('2#43%4>%2"(%V<F%+(*+($(32(,%2"4;$'3,$%4>%@'39"4;+$%'$%)(55%'$%
.('+$%4>%&4@@;3#2.%#3C($2@(32%'3,%"'+,%&'$"%>+4@%,434+$0%G.%2"(%(3,%4>%LMM`6%B3#5(C(+%
'A+((,%24%#3&5;,(%#2$%*+4,;&2$%#3%2"(%V<F%&"'33(5%$2'+2#3A%#3%LMMe%)#2"%'%&5';$(%*+(C(32#3A%
,#+(&2%&4@*(2#24+$%>+4@%'&&($$#3A%2"(%V<F0%P*'+'[#2'$%)4;5,%('+3%NMh%&4@@#$$#436%'3,%
B3#5(C(+%)4;5,%*'.%1PVI%'%&4@@#$$#43%4>%`h0%=4+%U#&O%'3,%<'#>6%#2%)'$%'3%;3*+(&(,(32(,%
C#&24+.^%'%&4+*4+'2#43%'A+((#3A%24%+(@;3(+'2(%1PVI%>4+%2"(#+%O34)5(,A(%'3,%(E*(+2#$(%4>%+;+'5%
&4@@;3#2#($0%%
%
3HM"*().*%"*$%0-"*4+%
%
G.%2"(%(3,%4>%LMMe%<'#>%>(52%2"(%V<F%)'$%>#3'55.%'&"#(C#3A%2'3A#-5(%+($;52$%>4+%@'+A#3'5#\(,%+;+'5%
)4@(36%'5-(#2%$54)5.0%!"(%$.$2(@%#3&5;,(,%aMM%P*'+'[#2'$%&4C(+#3A%NL%,#$2+#&2$%'3,%('+3#3A6%43%
'C(+'A(6%(34;A"%@432"5.%24%-;.%2)4%,'#5.%@('5$X%)4+2"%4>%+#&(%>4+%'%>'@#5.%4>%]%Y``e%2'O'Z0%
B3#5(C(+X$%*+4,;&2$%$45,%@4+(%>+(i;(325.%2"'3%GP!PX$6%'554)#3A%2"(%*+4A+'@%24%(E*'3,0%<i;'+(%
',,(,%2"(#+%*+4,;&2$%24%2"(%$.$2(@%#3%@#,%LMMe6%2"4;A"%<'#>%)'$%'-5(%24%3(A42#'2(%435.%'%a0]h%
&4@@#$$#43%>+4@%2"(@%>4+%1PVI0%D3%2"(%42"(+%"'3,6%24%<'#>X$%*(+$43'5%$'2#$>'&2#436%#3%LMMe%2"(%
I/B%A'#3(,%'%,(,#&'2(,%2('@%'3,%2"(%*+4A+'@%)'$%(E2(3,(,%#324%V'3A*;+6%'554)#3A%G'3#%
m'@'3%"(+$(5>%24%(32(+%2+'#3#3A%'3,%-(&4@(%'3%P*'+'[#2'6%,4;-5#3A%"(+%*(+$43'5%#3&4@(%#3%"(+%
>#+$2%@432"%)#2"%2"(%V<F0%/434+$%#3&5;,#3A%2"(%B3#2(,%<2'2($%PA(3&.%>4+%J32(+3'2#43'5%
/(C(54*@(32%YB<PJ/Z%*+'#$(,%2"(%*+4A+'@%>4+%#2$%'-#5#2.%24%*+4C#,(%#3&4@(%24%)4@(3%@4+(%
i;#&O5.%2"'3%2+',#2#43'5%#3&4@(9A(3(+'2#3A%'&2#C#2#($%$;&"%'$%'A+#&;52;+(%4+%&+'>2$0%
%
P2%2"(%$'@(%2#@(6%<'#>%)'$%#3%&43C(+$'2#43%)#2"%$(C(+'5%42"(+%G'3A5',($"#%=71?$%'$%)(55%'$%
@(,#&#3(%'3,%$((,%@'3;>'&2;+(+$%'-4;2%',,#3A%2"(#+%*+4,;&2$%24%2"(%V<F%-'$O(2$%4>%A44,$0%c(%
@'#32'#3(,%&432'&2%)#2"%/#5#*6%)"4%)'$%#3&+('$#3A5.%&43C#3&(,%2"'2%2"(%(32#+(%84.((2'%*+4A+'@%
)4;5,%-(%-(22(+%+;3%-.%1PVI%2"'3%-.%B3#5(C(+0%P%&4@-#3'2#43%4>%'&&($$%24%&43$;@(+%A44,$6%
,434+%>;3,$6%'3,%,((*%O34)5(,A(%4>%+;+'5%(&434@#($%'3,%A(3,(+%,.3'@#&$%#3%G'3A5',($"%
$((@(,%24%'554)%2"(%V<F%2"(%'-#5#2.%24%2+4;-5($"442%'3,%4C(+&4@(%@'3.%4>%2"(%-4225(3(&O$%
*5'A;#3A%42"(+%G4F%$.$2(@$%A54-'55.0%%
%
k(2%)"#5(%<'#>X$%4*2#@#$@%A+()6%@'3.%#3%2"(%/"'O'%4>>#&(%)(+(%-(&4@#3A%&43C#3&(,%2"'2%2"($(%
)(+(%342%2"(%O#3,%4>%+($;52$%2"(.%&4;5,%(3,4+$(0%H"#5(%43%'%>#(5,%C#$#2%#3%V'3A*;+6%<'#>%"',%
@#$$(,%'%1PVI%$2'>>%@((2#3A%#3%)"#&"%#2%(@(+A(,%2"'2%43(%4>%2"(%"#A"($29$(55#3A%B3#5(C(+%
*+4,;&2$%#3%2"(%V<F%&"'33(5%)'$%l='#+%j%:4C(5.X6%'%$O#39)"#2(3#3A%&+('@%)"#&"%)'$%C(+.%
*4*;5'+%#3%P$#'%-;2%&432+4C(+$#'5%'@43A%B3#5(C(+X$%H($2(+3%&43$;@(+$0%!"(%$'5($%>#A;+($%"#2%
U#&OX$%,($O%2"(%$'@(%)((O%"(%+(&(#C(,%'%*+($$%*'&O%>+4@%1PVI%B<P%"(',i;'+2(+$%&432'#3#3A%
2"(%3()($2%C(+$#43%4>%1PVIX$%A54-'5%lJ%P@%F4)(+>;5X%',%&'@*'#A3%Y<((%IE"#-#2%]^%1PVI%q#,(46%
lJ%P@%F4)(+>;5X%'3,%B3#5(C(+%q#,(46%='#+%j%:4C(5.Z0%!"(%&432+'$2%-(2)((3%2"(%;*5#>2#3A%#@'A($%4>%
2"(%A54-'5%1PVI%&'@*'#A3%'3,%2"(%='#+%j%:4C(5.%&4@@(+&#'5%&#+&;5'2#3A%'+4;3,%2"(%/"'O'%
1PVI%4>>#&(6%)"#&"%5#3O(,%'%>(@'5(%[4-%$((O(+X$%*+4$*(&2$%24%2"(%;$(%4>%2"(%$O#3%5#A"2(3#3A%
&+('@6%)'$%,((*5.%;3$(225#3A%>4+%U#&O%'3,%@'3.%4>%"#$%$2'>>0%P32#&#*'2#3A%2"(%>;+.%)"#&"%&4;5,%-(%
%
EE
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
5(C#(,%'2%1PVI%-.%H($2(+3%$2'O("45,(+$e%>4+%*;+C(.#3A%$O#3%5#A"2(3(+$%24%*44+%)4@(36%U#&O%
+('&"(,%'%&+#$#$%*4#32%)#2"%2"(%V<F6%"#$%*'2#(3&(%)#2"%)"'2%$((@(,%5#O(%$@4O(%'3,%@#++4+$%4>%
@'++.#3A%-;$#3($$%24%1PVIX$%&4+(%(@*4)(+@(32%A4'5$%)('+#3A%2"#30%%
%
<'#>%'3,%"#$%3()%I/B%2('@%O3()%2"(%A44,)#55%4>%2"(#+%&455('A;($%)'$%)'3#3A%-;2%)(+(%
,(2(+@#3(,%24%$2'.%2"(%&4;+$(0%!"+4;A"4;2%LMMe9LMMn6%2"(.%)4+O(,%24%$(&;+(%&432+'&2$%)#2"%
$;**5#(+$%4>%$4&#'55.%-(3(>#&#'5%A44,$6%'3,%2+4;-5($"42%2"(%4*(+'2#43'5%*#2>'55$%2"'2%&432#3;(,%24%
,4A%2"(%V<F0%<'#>%)'$%&43C#3&(,%2"'2%43&(%2"(%V<F%)'$%>;55.%>;3&2#43#3A%'$%'%,#$2+#-;2#43'5%
&"'33(56%#2%"',%2"(%*42(32#'5%24%&'++.%'55%@'33(+%4>%'A+#&;52;+'56%"('52"6%'3,%(,;&'2#43'5%A44,$%24%
G'3A5',($"X$%"'+,($29249+('&"%'+('$6%*+4C#,#3A%'3%#3&4@(%24%2+',#2#43'55.%$4&#49(&434@#&'55.%
(E&5;,(,%+;+'5%)4@(3%'3,%A(3(+'2#3A%'%+(C(3;(%$2+('@%>4+%1PVI%2"'2%)4;5,%-(%;3'>>(&2(,%-.%
,434+%)"#@$0%%G;2%"(%"',%24%A(2%2"(%,#$2+#-;2#43%$.$2(@%+#A"20%%
%
0-"*4+(%:.%:-+%2!6%=.$+/%
%
D*(+'2#43'5%&"'3A($%24%2"(%V<F%'2%2"(%(3,%4>%LMMe%'3,%2"+4;A"4;2%LMMn%)(+(%O(.0%P*'+'[#2'$%
)(+(%;3*4*;5'+%)#2"%+;+'5%)"45($'5(+$%-(&';$(%2"(.%&'++#(,%54)%C45;@($%4>%#3C(324+.6%C#$#2#3A%
2"(%)"45($'5(+%435.%)"(3%2"(.%+'3%4;2%4>%A44,$0%V(2'#5(+$%&4@*5'#3(,%2"'2%2"(%$(55(+$%)(+(%
Q#++'2#43'5R%'3,%Q;39-;$#3($$5#O(R0%!"(%$'@(%#$$;(%"',%*5'A;(,%B3#5(C(+X$%84.((2'$X%-;$#3($$0%
G;2%2"(%I/B%2('@%O3()%2"(%*+4-5(@%)'$%342%)4@(3X$%Q#++'2#43'5#2.R%-;2%2"(%"#A"%2+'3$*4+2%&4$2$%
2"(.%"',%24%*'.%24%+('&"%)"45($'5(%&(32+($6%2"(%$4&#'5%,#$&4@>4+2%4>%-(#3A%2"(%435.%)4@'3%24%
'++#C(%#3%'3%'559@'5(%&4@@(+&#'5%$*'&(6%'3,%2"(%>('+%4>%54&O#3A%;*%$&'+&(%+($4;+&($%#3%A44,$%
2"'2%@#A"2%A4%;3$45,0%!"(%'3$)(+%-(&'@(%24%&+('2(%V<F%";-$%&54$(%24%P*'+'[#2'$X%$'5($%+4;2($%
Y<((%IE"#-#2%`^%V<F%1"'33(5Z6%'%242'5%4>%NL%";-$%>;3&2#43#3A%'&+4$$%$4@(%4>%2"(%*44+($2%'+('$%
4>%+;+'5%G'3A5',($"%#3%LMMe0%
%
<'#>%'3,%"#$%2('@%&43&(#C(,%4>%";-$%'$%$@'55%#3,(*(3,(325.%4)3(,%-;$#3($$($6%)"#&"%#3C($2%#3%
5($$%#3C(324+.%2"'3%'%)"45($'5(+6%-;2%@4+(%2"'3%'%O#4$O%Y<((%IE"#-#2%e^%=#(5,%F"424$6%c;-$6%G#O(%
/#$2+#-;24+$6%'3,%P*'+'[#2'$Z0%c;-%(32+(*+(3(;+$%)(+(%$(5(&2(,%-.%1PVI%24%$(+C(%'$%'%54&'5%
,#$2+#-;2#43%*4#326%)#2"%('&"%";-%$24&O#3A%'**+4E#@'2(5.%aM%P*'+'[#2'$%'3,%+(&(#C#3A%&4@@#$$#43%
>+4@%GP!P%'3,%B3#5(C(+%Y<((%IE"#-#2%n^%V<F%G;$#3($$%74,(5Z0%J3%',,#2#436%2"(%I/B%2('@%
,+'>2(,%'%3(2)4+O%4>%-#O(%,#$2+#-;24+$6%'%&',+(%4>%@4$25.%.4;3A%@(3%>;+3#$"(,%)#2"%-#&.&5($%'3,%
&'+2$%)"4%>(++#(,%A44,$%-(2)((3%2"(%c;-%'3,%2"(%P*'+'[#2'$6%2";$%*+4C#,#3A%P*'+'[#2'$%)#2"%'%
$2(',.%$24&O%4>%A44,$%)"#5(%'55(C#'2#3A%2"(%+#$O%4>%;3$45,%*+4,;&20%!"#$%$.$2(@%4C(+&'@(%2"(%
*+#@'+.%&43$2+'#32%2"'2%84.((2'$%"',%>'&(,6%(>>(&2#C(5.%54)(+#3A%&4$2$%4>%,#$2+#-;2#43%-.%'554)#3A%
5'+A(+%i;'32#2#($%4>%A44,$%24%>54)%2"+4;A"%2"(%V<F%$.$2(@0%%
%
74C#3A%#324%LMMn6%<'#>6%P$#>%'3,%2"(%I/B%2('@%&432#3;(,%24%>#3(92;3(%2"(%,#$2+#-;2#43%&"'33(56%
@'O#3A%+(A;5'+%>#(5,%C#$#2$%24%5('+3%'-4;2%+(&+;#2@(326%#32+4,;&#3A%@4+(%(>>(&2#C(%-'A$%#3%)"#&"%
2"(%P*'+'[#2'$%&4;5,%2+'3$*4+2%2"(#+%A44,$6%,($#A3#3A%+4;2(%@'*$%>4+%$'5($%'3,%)4+O#3A%24%
(3$;+(%2"(%P*'+'[#2'$X%$'>(2.%'3,%'&&(*2'3&(%#3%2"(%&4@@;3#2#($%#3%)"#&"%2"(.%@4C(,0%1PVIX$%
@(2#&;54;$%@'3'A(@(32%*+4@*2(,%B3#5(C(+%24%4>>(+%L6MMM84.((2'$%24%<'#>%'3,%"#$%2('@%#3%LMMn6%
4>%)"#&"%aMM%4>%2"(%@4$2%@'+A#3'5#$(,%)(+(%$(5(&2(,%24%[4#3%2"(%(E#$2#3A%V<F%3(2)4+O0%%G.%
%
e
1PVIX$%LMMW%'33;'5%+(*4+2%#3,#&'2(,%2"'2%`Mh%4>%>#3'3&#'5%$;**4+2%>4+%1PVIX$%)4+O%&'@(%>+4@%H($2(+3%A4C(+3@(32%$4;+&($6%)#2"%dMh%
&4@#3A%>+4@%2"(%B<%A4C(+3@(320%8;$2%4C(+%43(%2"#+,%4>%1PVIX$%>#3'3&#'5%$;**4+2%#3%LMMW%&'@(%>+4@%*+#C'2(%$4;+&($6%#3&5;,#3A%@'3.%
#3,#C#,;'5%'3,%#3$2#2;2#43'5%,434+$%-'$(,%#3%2"(%B3#2(,%<2'2($%4+%I;+4*(0%Y<4;+&(^%
"22*^SS)))0&'+(04+AS3()$+44@S*;-5#&'2#43$S'33;'5+(*4+2$S#3,(E0'$*Z0%
%
EC
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
7'+&"%LMMW6%N6LMM%P*'+'[#2'$%)(+(%'&2#C(%#3%]n%";-$%'&+4$$%G'3A5',($"6%('+3#3A%'3%'C(+'A(%4>%
N6Ndd%2'O'%*(+%@432"6%;*%>+4@%d]M%#3%LMM`6%'3,%,#$2+#-;2#3A%A44,$%24%)4@(3%)"4%"',%3(C(+%
*+(C#4;$5.%@',(%*;+&"'$($%4;2$#,(%2"(%"4@(0%!"(%@4,(5%)'$%)4+O#3A0%
%
G-+%0.(:%.K%!',,+((Z%
%
G.%LMMW6%#2%$((@(,%2"'2%2"(%V<F%"',%>#3'55.%>4;3,%#2$%>((20%J2%"',%(32(+(,%#324%*'+23(+$"#*$%)#2"%
P&#%:2,06%:'592((+%<((,$6%'3,%V(3'2'%YC(2(+#3'+.%*+4,;&2$Z6%'3,%'-$4+-(,%2"(%+(@'#3$%4>%
84.((2'6%&;22#3A%B3#5(C(+X$%*(+%#2(@%&4$2$%>4+%A44,$%#3%2"(%$.$2(@%-.%]Mh0%J2%"',%A(3(+'2(,%
@4+(%2"'3%_]MM6MMM%#3%$'5($%2"'2%.('+6%4>%)"#&"%GP!P%A'#3(,%aNh%'3,%B3#5(C(+%]Nh%Y<((%
IE"#-#2%W^%V<F%P33;'5%<'5($6%LMM]9LMMWZ0%<'#>%'5$4%-(A'3%24%,+'>2%*5'3$%'-4;2%"4)%24%&433(&2%
2"(%V<F%24%42"(+%1PVI%*+4A+'@$%#3&5;,#3A%'%5'+A(%*+4[(&2%$;**4+2#3A%+;+'5%,'#+.%>'+@(+$6%
@4C#3A%-(.43,%'%$'5($%&"'33(5%24%&+('2(%'%+;+'5%(&4$.$2(@%4>%(&434@#&%'&2#C#2.0%P2%2"(%$'@(%
2#@(6%<'#>%'3,%"#$%2('@%)(+(%$"4)(+(,%)#2"%#3C#2'2#43$%24%$*('O%'-4;2%2"(%V<F%#3%'%+'3A(%4>%
"#A"9*+4>#5(%A54-'5%>4+;@$0%/($*#2(%;3('$#3($$%'-4;2%*+4,;&2$%$;&"%'$%='#+%j%:4C(5.6%#2%)'$%
&5('+%24%U#&O%2"'2%2"(%V<F%)'$%-.%>'+%1PVI%G'3A5',($"X$%T%'3,%*(+"'*$%1PVI%A54-'5X$%T%@4$2%
2'5O(,9'-4;2%*+4A+'@0%%%
%
J2%)'$%2"#$%$;&&($$%2"'2%*+4@*2(,%'%$(3#4+%@'3'A(+%4>%/1%#3%G'3A5',($"%24%+(&433(&2%)#2"%<'#>0%
<'#>%"',%O34)3%2"(%/1%>4+%$4@(%2#@(0%J3%LMM]%"(%@(2%8'&i;($%/'32"436%2"(%"(',%4>%/'343(X$%
(>>4+2$%)#2"%?+'@((3%#3%G'3A5',($"0%8'&i;($%"',%$"'+(,%2"'2%2"(%/'343(9?+'@((3%
*'+23(+$"#*%Y?+'@((3%/'343(%=44,$Z%"',%$2+;AA5(,6%'3,%"(%$4;A"2%',C#&(%>+4@%1PVI%43%"4)%
24%@4+(%(>>(&2#C(5.%$4;+&(%@#5O%>+4@%*44+%>'+@(+$%>4+%;$(%#3%/'343(X$%*+4,;&2$0%P$%*'+2%4>%/1X$%
C#$#436%2"(%G'3A5',($"%(32(+*+#$(%)'$%#32(3,(,%24%-(%*+49*44+%>+4@%(3,%24%(3,%T%$4;+&#3A%
#3*;2$%>+4@%*44+%>'+@(+$6%(@*54.#3A%2"(%*44+%#3%*+4&($$#3A%4>%@#5O%*+4,;&2$6%;$#3A%+;+'5%)4@(3%
24%,#$2+#-;2(6%'3,%'#@#3A%24%$(55%24%+;+'5%&43$;@(+$%#3%4+,(+%24%#@*+4C(%&"#5,%3;2+#2#430%G;26%)"#5(%
2"(%/19?+'@((3%*'+23(+$"#*%"',%$((3%$;&&($$%#3%#2$%;*$2+('@%'&2#C#2#($6%,#$2+#-;2#43%)'$%
*+4C#3A%>'+%@4+(%,#>>#&;520%<#3&(%LMM]6%<'#>%'3,%8'&i;($%+(@'#3(,%#3%24;&"6%)#2"%<'#>%(C(32;'55.%
*+4C#,#3A%',C#&(%'3,%2(&"3#&'5%'$$#$2'3&(%43%+;+'5%,#$2+#-;2#43%>4+%/16%*'+2#&;5'+5.%#3%+(A'+,%24%
2"(%$2#559$2+;AA5#3A%,#$2+#-;2#43%4>%/'343(X$%"#A"93;2+#2#43%.4A;+20%%
%
G.%LMMW%8'&i;($%)'$%')'+(%2"'2%2"(%V<F%"',%+('&"(,%2"(%O#3,%4>%+;+'5%*(3(2+'2#43%24%)"#&"%
/1%"',%'$*#+(,%-;2%3(C(+%'&"#(C(,0%!"(%V<F%"',%A+4)3%>+4@%dW%)4@(3%$(55#3A%'%$#3A5(%
*+4,;&2%#3%43(%+(A#43%4>%G'3A5',($"%#3%LMM]%24%'5@4$2%N6LMM%)4@(3%'&+4$$%]n%";-$%@'O#3A%'3%
'C(+'A(%4>%N6Ndd%2'O'%@432"5.%$(55#3A%'3%(C(+9&"'3A#3A%-'$O(2%4>%A44,$%#3&5;,#3A%>44,6%
24#5(2+#($6%'**'+(56%'A+#&;52;+'5%#3*;2$6%'3,%@(,#&#3(%,44+9249,44+%#3%"4;$("45,$%'&+4$$%+;+'5%
G'3A5',($"6%;$;'55.%24%>(@'5(%&;$24@(+$%-(.43,%2"(%$4&#'5%4+%A(4A+'*"#&'5%+('&"%4>%>4+@'5%
+(2'#5%Y<((%IE"#-#2%NM^%=#(5,%q#,(46%P*'+'[#2'%43%<'5($%V4;2(Z0%G'&O)'+,%5#3O'A($%)#2"%+;+'5%
(32(+*+#$(%'**('+(,%24%"'C(%-((3%'&"#(C(,%T%<'#>%'3,%"#$%2('@%3(C(+%&('$(,%24%-(%'@'\(,%'2%
2"(%C'+#(2.%4>%A44,$%2"(.%>4;3,%)"(3%*((O#3A%#3$#,(%'3%P*'+'[#2'X$%-'$O(20%74$2%#@*4+2'325.6%2"(%
@432"5.%#3&4@($%4>%P*'+'[#2'%)(+(%'5@4$2%2"+((%2#@($%)"'2%2"(.%)(+(%)"(3%<'#>%5';3&"(,%2"(%
*+4A+'@%#3%LMM]0%%G'3#%m'@'3%)'$%@'O#3A%(34;A"%24%-;.%2"+((%@('5$%'%,'.%>4+%"(+%>'@#5.6%
@4+(%&'$"%2"'3%$"(%"',%(C(+%"',%'&&($$%24%#3%"(+%5#>(0%%%
%
8'&i;($%"',%#3C#2(,%<'#>%24%'%@((2#3A%)#2"%@(@-(+$%4>%/1X$%$(3#4+%(E(&;2#C(%2('@%)"4%)(+(%#3%
/"'O'%24%+(C#()%2"(%/1%*+4[(&20%H"(3%<'#>%(32(+(,%2"(%@((2#3A6%"(%(E*(&2(,%24%,#$&;$$%2"(%
%
EF
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
$;&&($$%4>%2"(%4*(+'2#43'5%&"'3A($%24%2"(%V<F%@4,(5%'&+4$$%LMMn%'3,%"4)%"#A"93;2+#2#43%
.4A;+2%@#A"2%*42(32#'55.%>#2%#324%2"(%&"'33(50%c#$%@#3,%)'$%43%2"(%3((,%>4+%&45,%$24+'A(6%'3,%43%
"4)%"(%@#A"2%-(%'-5(%24%$(&;+(%'%&43$;52#3A%&432+'&2%24%&4@*(3$'2(%"#$%2('@%>4+%2"(%2(&"3#&'5%
'$$#$2'3&(%2"(.%)(+(%*+4C#,#3A%/1%)#2"%#3&+('$#3A%>+(i;(3&.0%J3$2(',6%"(%)'$%-5#3,$#,(,%-.%
/1X$%*+4*4$#2#43^%2"(%4>>(+%24%&43C(+2%2"(%V<F%#324%'%".-+#,%$4&#'5%(32(+*+#$(0%
%
/1%A'C(%<'#>%2"+((%@432"$%24%*;2%24A(2"(+%'%*+4*4$'5%>4+%2"(%<IX$%4+A'3#\'2#43'5%$2+;&2;+(%'3,%
*5'3$%24%$&'5(0%c4)(C(+6%(E'@*5($%4>%".-+#,%4+A'3#\'2#43$%'2%2"#$%$&'5(%)(+(%>()6%'3,%2"(%
#@*5#&'2#43$%>4+%2"(%*+4A+'@%)(+(%(34+@4;$0%14;5,%'3%#3#2#'2#C(%-#+2"(,%#3%'3%U?D%$&'5(%24%'%
$4&#'5%-;$#3($$%>;3,(,%'$%'3%#3C($2@(32%T%'5-(#2%'%Q$4&#'5%#3C($2@(32R%T%-.%43(%4>%2"(%)4+5,X$%
5'+A($2%@;52#3'2#43'5%&4@*'3#($o%H"'2%)(+(%2"(%#@*5#&'2#43$%>4+%2"(%42"(+%&4@*'3#($%"(%"',%
*'#3$2'O#3A5.%A+'>2(,%#324%2"(%V<F%&"'33(5o%/1%"',%'%&5('+%'3,%"#A"5.%@(,#'2#$(,%$2'3&(%43%
$4&#'5%#@*'&2%T%)"'26%2"(36%)4;5,%-(&4@(%4>%&4+(%V<F%C45;@(%,+#C(+$%5#O(%='#+%j%:4C(5.o%%/1%
"',%'5+(',.%#32#@'2(,%2"'2%2"(.%@#A"2%"'C(%+($(+C'2#43$%'-4;2%&(+2'#3%*+4,;&2$%>54)#3A%2"+4;A"%
2"(%$.$2(@0%H4;5,%2"(#+%>4&;$%43%&"#5,%3;2+#2#43%4C(+$"',4)%42"(+%'$*(&2$%4>%(@*4)(+@(32%
1PVI%"',%)4+O(,%"'+,%24%&;52#C'2(o%P3,%43%2"'2%342(6%"4)%)4;5,%1PVI%>#(5,%$2'>>%+($*43,%24%
2"(%$4&#'5%(32(+*+#$(o%c4)%&4;5,%1PVIX$%&432+#-;2#43%2";$%>'+%T%.('+$%#3%2"(%&4;32+.6%<'#>X$%4)3%
2#@(6%"#$%2('@X$%T%-(%i;'32#>#(,%'3,%C'5;(,o%%
%
<2#556%/1X$%4>>(+%$((@(,%5#O(%2"(%-($2%*4$$#-5(%)'.%24%'&"#(C(%<'#>X$%543A92#@(%A4'5%T%A'#3#3A%
$&'5(%)#2"%2"(%V<F%#3%4+,(+%24%*+4C#,(%'%+(A;5'+%#3&4@(%$2+('@%24%G'3A5',($"X$%*44+($2%
)4@(30%c(%2"4;A"2%4>%2"(%C#55'A($%"(%"',%C#$#2(,%)"(+(%V<F%&43$;@(+$%)(+(%@4$2%,(3$(0%
!"(+(6%"(%'3,%2"(%I/B%$2'>>%"',%342#&(,6%)4@(3X$%$'+#$%2(3,(,%24%-(%-+#A"2%";($%4>%+(,%4+%*#3O%
+'2"(+%2"'3%2"(%@4+(%2+',#2#43'5%A+((3%4+%-5;(0%!"#$6%2"(.%O3()6%)'$%'%+($;52%4>%)4@(3%$(5(&2#3A%
2"(#+%4)3%&542"#3A%>4+%2"(%>#+$2%2#@(6%5#O(5.%>+4@%'3%P*'+'[#2'0%!4%<'#>%'3,%"#$%2('@6%#2%)'$%'%$#A3%
4>%(@*4)(+@(326%'%$#A3'5%4>%5#>(0%%
%
U#&O%)'$%24;&"(,%-.%$;&"%'3(&,42($6%-;2%;3&43C#3&(,%2"'2%2"(%V<F%"',%'+2#&;5'2(,%#2$%
,(C(54*@(32%#@*'&2%>;55.%(34;A"%4+%$;>>#&#(325.%&43$#,(+(,%#2$%#@*'&2%43%&43$;@(+$0%143&(+3$%
'-4;2%2"(%(2"#&$%4>%#3>4+@'5%5'-4;+6%2"(%Q&+4),#3A%4;2R%4>%54&'5%A44,$%2"+4;A"%@;52#3'2#43'5%
=71?%*+4,;&2$6%'3,%2"(%#32+4,;&2#43%4>%&43$;@(+%A44,$%24%*44+%&43$;@(+$%+(@'#3(,%
&4@@43*5'&(%'@43A%"#$%$2'>>0%H"#5(%#32(+3'2#43'5%@(,#'%&4C(+'A(%4>%2"(%V<F%"',%24%,'2(%-((3%
4C(+)"(5@#3A5.%*4$#2#C(6%U#&O%>('+(,%"(',5#3($%#3%U()%k4+O%4+%:43,43%&"'$2#$#3A%"#$%U?D%>4+%
*+4>>(+#3A%='#+%j%:4C(5.%24%*44+%)4@(30%IC(3%)4+$(6%>4+%'55%U#&O%O3()6%5($$%,($#+'-5(%*+4,;&2$%
$;&"%'$%&#A'+(22($%4+%#55(A'5%$;-$2'3&($%&4;5,%@'O(%2"(#+%)'.%#324%2"(%&"'33(5%;3,(2(&2(,%Y<((%
IE"#-#2%NN^%U42(%43%1'+(X$%F45#&.%43%14+*4+'2(%F'+23(+$"#*$Z0%H4;5,%1PVI%"'C(%24%*45#&(%2"(%
&432(32$%4>%2"(%V<F%$.$2(@o%J3%>'&26%'$%@4+(%'3,%@4+(%=71?$%(32(+(,%2"(%&"'33(56%U#&O%
-(&'@(%#3&+('$#3A5.%&43>5#&2(,%'-4;2%2"(%(3C#+43@(32'5%#@*'&2%4>%2"(%*+4A+'@0%J2%$((@(,%2"'2%
,#$&'+,(,%&432'#3(+$%)(+(%'%@4+(%'3,%@4+(%+(A;5'+%>('2;+(%4>%2"(%+;+'5%G'3A5',($"#%5'3,$&'*(6%
'%2+(3,%)#2"%)"#&"%U#&O%)'32(,%1PVI%24%"'C(%342"#3A%24%,40%%
%
D3%2"(%42"(+%"'3,6%2"(%V<F%)'$%2"(%>#+$2%*42(32#'55.%&4@@(+&#'55.%C#'-5(%*+4[(&2%"(%"',%
(3&4;32(+(,%#3%"#$%,(&',($%4>%)4+O%)#2"%U?D$%'&+4$$%2"(%)4+5,0%U#&O%2"4;A"2%2"'2%*(+"'*$%)#2"%
/1X$%#3C($2@(326%2"(%V<F%@#A"2%-(A#3%24%2;+3%'%*+4>#2%$;>>#&#(32%(34;A"%24%*+4C#,(%;3+($2+#&2(,%
>;3,$%>4+%1PVI6%(3'-5#3A%2"(%U?D%24%4C(+&4@(%2"(%,434+9,(*(3,(3&.%2"'2%,4@#3'2(,%$4%
@;&"%4>%"#$%$2'>>$X%2#@(%'3,%*+4A+'@@#3A0%G;2%)"'26%"(%)43,(+(,6%#>%2"#3A$%)(32%)+43Ao%D3(%
%
EI
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
>'5$(%@4C(%>+4@%'3%V<F%*'+23(+%&4;5,%&4@*+4@#$(%1PVIX$%+(*;2'2#43%#3%'55%4>%P$#'6%'3,%)#2"%#2%
1PVIX$%*42(32#'5%24%@4C(%2"4;$'3,$%4>%2"(%)4+5,X$%*44+($2%&#2#\(3$%4;2%4>%*4C(+2.0%%
%
%
%
01!3%[\3!G]YW!L%
%
N0% J$%2"(%V<F%'%$4&#'5%#334C'2#43%4+%'%$;**5.%&"'#3%#334C'2#43%)#2"%'%A44,%@'+O(2#3A%
$24+.o%%
L0% c4)%'5#A3(,%'+(%2"(%#32(+($2$%4>%2"(%C'+#4;$%$2'O("45,(+$o%
a0% H"4%'+(%2"(%-(3(>#&#'+#($%4>%2"#$%$.$2(@o%!"#3O%'-4;2%2"(%$2'A($%4>%V<F%,(C(54*@(320%
H"(+(%'3,%)"(3%)'$%C'5;(%&+('2(,%'3,%>4+%)"4@o%
d0% H"4%-('+$%4+A'3#\'2#43'5%4+%+(*;2'2#43'5%+#$O$%#3%2"($(%*'+23(+$"#*$o%H"(+(%,#,%+#$O$%
5#(%'3,%"4)%&'3%2"(.%-(%@#3#@#\(,o%%
]0% J$%2"(%V<F%'%@4+(%$;$2'#3'-5(%4*2#43%>4+%#3&4@(%A(3(+'2#43%2"'3%'%,434+9,+#C(3%
*+4[(&2o%H"'2%#$%2"(%*42(32#'5%>4+%,;+'-#5#2.%'3,%#@*'&2o%
`0% H"'2%'+(%2"(%',C'32'A($%'3,%,#$',C'32'A($%4>%A4#3A%'"(',%)#2"%2"(%/1%*'+23(+$"#*o%J>%
.4;%)(+(%U#&O6%)"'2%)4;5,%.4;%3((,%24%+($45C(%24%'&&(*2%/1X$%4>>(+o%
e0% J>%1PVI%'A+(($%24%,(C(54*%2"(%$4&#'5%(32(+*+#$(6%$"4;5,%'3,%&'3%5#@#2$%-(%*5'&(,%43%2"(%
A44,$%&'++#(,%2"+4;A"%2"(%V<F%&"'33(5o%%
%
%
%
%
%
EJ
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
3H-)^):%EL%%3HM"*().*%.K%2!6%CDDJ@CDDS%
%
CDDJ%
CDDN%
CDDO%
CDDP%
CDDS%
9%
9%
NL%
dd%
]n%
W.%.K%1,:)_+%1M"5"`):"%
L`%
aMM%
aMM%
WLd%
N6LMM%
1_+5"4+%7.*:-/>%)*,.7+%.K%1M"5"`):"%8&;G9%
ddd%
d]M%
``e%
eaM%
N6Ndd%
W.%.K%B'^(%
%
%
3H-)^):CL%&1G1%!"/+(U.7+*a%&"*4/"$+(-%
%
%
%
%
3H-)^):FL%Q)+/$%6-.:.a%b).(c(a%&"*4/"$+(-%
%
%
%
%
%
%
EN
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
3H-)^):%IL%0123%X/.^"/%0"7M")4*a%T]%"7%6.U+5K'/V%
%
%
%
%
%
3H-)^):%JL%0123%R)$+.a%T]%17%6.U+5K'/Vd\*)/+_+5%R)$+.a%Q")5%e%A._+/>%
%
2+f')5+$L%Q")5%e%A._+/>%1$_+5:)(+7+*:L%"22*^SS)))0.4;2;-(0&4@S)'2&"oCrbJBs]"-VctO%
%
D*2#43'5^%='#+%j%:4C(5.%7(,#'%<4;+&(^%"22*^SS)))0>'#+'3,54C(5.0#3S7(,#'S/(>';520'$*E%
%
2+f')5+$L%0123%T]%17%6.U+5K'/V%0"7M")4*L%
"22*^SS)))0&'+(04+AS>('2;+($SC#,(4A'55(+.SLMM`S#'*0'$*%
%
D*2#43'5%lJ%P@%F4)(+>;5X%V($4;+&($^%
"22*^SS)))03*+04+AS2(@*5'2($S$24+.S$24+.0*"*o$24+.J,rWN`ndNNL%'3,%
"22*^SS@;$(0[";0(,;S[4;+3'5$S'$+SCMMWSW0N4C(+C#()0"2@50%%
%
%
%
%
EO
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
3H-)^):%NL%2!6%!"/+(%0-"**+/%
%
%
%
%
%
%
EP
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
3H-)^):%OL%Q)+/$%6-.:.(a%B'^(a%&)c+%;)(:5)^':.5(a%"*$%1M"5"`):"(%
!
%
%
%
%
ES
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
3H-)^):%PL%2!6%&'()*+((%=.$+/%
%
%
%
%
%
CD
%
0123%&"*4/"$+(-%2'5"/%!"/+(%65.45"7%82!69%
1'2"(+#3(%/45'3%T%7'+.%84"3$243(9:4;#$%T%:#3,'%<&422%%
%
3H-)^):SL%2!6%1**'"/%!"/+(a%CDDJ@CDDS%
%
%
1**'"/%!"/+(%
CDDJ%
CDDN%
CDDO%
CDDP%
CDDS%
G.:"/%&;G%
W`]6MM]%
d6]`e6MM`%
e6eNL6MNe%
Le6dML6La]%
G.:"/%3'5.%
NL6aMe%
]M6N`W%
ee6aa]%
Lnd6``W%
]M6Men6neL%
%
]M`6`da%
%
%
3H-)^):EDL%Q)+/$%R)$+.a%1M"5"`):"%.*%!"/+(%2.':+%
%
3H-)^):EEL%W.:+%.*%0"5+V(%6./),>%.*%0.5M.5":+%6"5:*+5(-)M(%
%
1PVIX$%*45#&.%,4&;@(32$%342(%2"(%4+A'3#\'2#43X$%*45#&.%43%&4+*4+'2(%*'+23(+$"#*$^%%
l*+,-./0*1.&2*/3&23*43&4501&2*66&+7/&1+85819&&
&
U4%1PVI%7(@-(+%)#55%(3A'A(%)#2"%#3,;$2+#($%)"(+(%2"(%*+4,;&2%*+4,;&(,%4+%$(+C#&(%4>>(+(,%#$%
#3%#2$(5>%$4%'32#2"(2#&'5%24%4;+%C#$#43%4>%'%)4+5,%)"(+(%'55%*(4*5(%5#C(%#3%,#A3#2.%'3,%$(&;+#2.%2"'2%'%
,#$&;$$#43%4>%"4)%24%#@*+4C(%-;$#3($$%*+'&2#&($%)4;5,%342%-(%+(5(C'32:%%!"($(%3(&($$'+#5.%
#3&5;,(^%
%
14+*4+'2#43$%)"4$(%@'2(+#'5%-;$#3($$%#$%2"(%@'3;>'&2;+(%4>%)('*43$0%
14+*4+'2#43$%)"4$(%@'2(+#'5%-;$#3($$%#$%2"(%*+4,;&2#43%'3,S4+%,#$2+#-;2#43%4>%*4+34A+'*".0%
%
*;&<=>?#&@%)?)&A>?#?&%&4501&B?'C?#&@<;)D(?#)&%&@<#!<#%=D<;9)&@<#!<#%=?&!#%@=D@?&=<&C?&
D;>?#?;=EF&>%#'G"E&H?:I:&?J!E<D=%=DK?&@>DE(&E%C<"#&!#%@=D@?)LM&<#&A>?#?&D=)&!#<("@=)M&A>DE?&;<=&
%;=D=>?=D@%E&=<&45019)&KD)D<;M&'%F&C?&<C$?@=D<;%CE?&=<&=>?&B?'C?#9)&@<;)=D="?;=)&H?:I:&=<C%@@<LM&
=>?&4501&B?'C?#&ADEE&<;EF&?;I%I?&=<&%(K<@%=?&<#&%(KD)?&G<#&D'!#<K?(&@<#!<#%=?&!#%@=D@?:&&*;&
=>?)?&@%)?)M&4501&ADEE&;<=&";(?#=%N?&@<OC#%;(D;IP&@%")?O#?E%=?(&'%#N?=D;IP&?K?;=&
)!<;)<#)>D!P&/Q&<#&#%(D<&%(K?#=D)D;IP&<#&A?C)D=?&@<EE%C<#%=D<;:9&
&
<4;+&(^%1PVI%J32(+3'2#43'5%14+*4+'2(%I3A'A(@(32%?;#,(5#3($6%P&&($$(,%NM%7'.%LMNN%>+4@^%
*i,50&'+(04+AS14+(hLM:#-+'+.S1Ju14+*4+'2(uI3A'A(@(32u?;#,(5#3($0,4&0%
%
%
%
CE