!"#$%#&'("$)**#+(,$-*$
.&,(#$/0+10#2&(-2,
$
3("$4#5-2($-*$("#$621(1,"$7-+1#(8$*-2$
)+-'-91+&'$:#;1+10#
7#+-0;$);1(1-0
<=0#$>??@
:-;#2&(-2,A$$B2$<#2#C8$!"-C5,-0$&0;$B2$%-0-2$D0("-08
!"#$%&#'()'*#&)+,'-,.(.)+
!"#$%&'(%&)*+,"$-'".#&./&'("0&1%).1'2&"3).1'-#'&#%4&5-'-&(-0&
+%%# & )*+,"0(%5 & 0'1%#6'(%#"#6 & '(% & %7"5%#$% & '(-' & /"#% & )-1'"$*,-'%&
).,,*'".# & ),-80 & -# & "3).1'-#' & 1.,% & "# & +.'( & $-15".7-0$*,-1 & -#5&
$%1%+1.7-0$*,-1&3.1'-,"'8&90%%&0%$'".#&:;<=&-#5&5%3.#0'1-'"#6&'(-'&
'(%&5-#6%1&"0&61%-'%1&'(-#&)1%7".*0,8&1%-,"0%5;&>.1%&5-'-&(-0&-,0.&
+%%# & 1%,%-0%5 & .# & '(% & 5-#6%10 & '. & (%-,'( & ./ & *,'1-/"#% & )-1'"$*,-'%0&
-#5&-+.*'&'(%&1"0?0&./&.'(%1&).,,*'-#'0&1%,%-0%5&/1.3&"#$"#%1-'.10&
90%%&0%$'".#&:;@=;&A"'(&%-$(&)*+,"$-'".#&'(%&(-B-150&./&"#$"#%1-'".#&
-1%&+%$.3"#6&3.1%&.+7".*0&-#5&3.1%&5"//"$*,'&'.&"6#.1%;&
C#&'(%&,"6('&./&'("0&5-'-&-#5&'(%&5"0$*00".#&)1.7.?%5&+8&.*1&
1%).1'2 & 4% & (-7% & %D'%#5%5 & 0%7%1-, & 0%$'".#0; & C# & )-1'"$*,-12 & '(%&
0%$'".# & .# & -,'%1#-'"7% & 4-0'% & '%$(#.,.6"%0 & 90%$'".# & E= & (-0 & +%%#&
%D'%#0"7%,8 & 1%7"0%5 & -#5 & %#,-16%52 & -0 & (-0 & '(-' & .# & '(% & $.0'0 & ./&
E
"#$"#%1-'".# & 90%$'".# & F=2 & '(% & )1.+,%30 & ./ & -0( & 9F;@=2 & 1-5".-$'"7"'8&
90%$'".#&F;G=2&-#5&'(%&0%$'".#0&.#&3.#"'.1"#6&90%$'".#&<<=2&-#5&&1"0?&
-00%003%#'&90%$'".#&<H=;&
A%&-,0.&("6(,"6('&1%$%#'&1%0%-1$(&4("$(&(-0&5%3.#0'1-'%5&
'(%&7%18&("6(&1%,%-0%0&./&5".D"#&'(-'&-1"0%&5*1"#6&0'-1'I*)&-#5&0(*'I
5.4# &./&"#$"#%1-'.10&90%$'".#& <<=;&J("0 &"0& %0)%$"-,,8& 4.118"#6 &-0&
3.0' & -00*3)'".#0 & -+.*' & '(% & 0-/%'8 & ./ & 3.5%1# & "#$"#%1-'.10 & -1%&
+-0%5&.#,8&.#&%3"00".#0&4("$( &.$$*1&5*1"#6&0'-#5-15&.)%1-'"#6&
$.#5"'".#0; & K/ & %L*-, & $.#$%1# & "0 & '(% & ,"?%,"(..5 & '(-' & '(%0%&
5-#6%1.*0,8 & ("6( & %3"00".#0 & 4",, & #.' & +% & 5%'%$'%5 & +8 & )1%0%#'&
3.#"'.1"#6&080'%30&/.1&5".D"#0;
>
/)"#0)",&'.&'(%&<0'&M5"'".#
/1.3&&''!")$#11)"'23'43'5)0%",3'673'2873'!893'/:2!%(83
J(%&-*'(.10&-1%&'.&+%&$.#61-'*,-'%5&.#&)1.5*$"#6&'("0&1%).1';&&J(%&1%-5%1&4",,&
0..# & *#5%10'-#5 & '(-' & '. & $.3% & '. & - & $.3)1%(%#0"7% & *#5%10'-#5"#6 & ./ & '(%&
(%-,'( & )1.+,%30 & -00.$"-'%5 & 4"'( & "#$"#%1-'".# & "' & "0 & %00%#'"-, & '. & +%$.3%&
-$L*-"#'%5&4"'(&-&,-16%&#*3+%1&./&5"//%1%#'&5"0$"),"#%0&1-#6"#6&/1.3&-%1.0.,&
)(80"$0&'.&%#5.$1"#%&5"01*)'".#&'.&,.#6&1-#6%&'1-#0).1'&./&).,,*'-#'0;&C#&3.0'&
3%5"$-,&0$(..,02&'.&'("0&5-82&7"1'*-,,8&#.'("#6&"0&1.*'"#%,8&'-*6('&'.&%L*")&'(%&
3%5"$-,&61-5*-'%&'.&-))1.-$(&'(%0%&)1.+,%30;&J("0&(-0&'.&$(-#6%;&A%&#%%5&
'(% &3%5"$-, &)1./%00".# &'. &+% & %5*$-'%5 &'. &(%-,'( & $.#0%L*%#$%0&-00.$"-'%5&
4"'(&$*11%#'&%#7"1.#3%#'-,&5%61%5-'".#;
J(%1%&-1%&#.&$%1'-"#'"%0&"#&)"##"#6&0)%$"/"$&(%-,'(&%//%$'0&.#&"#$"#%1-'".#N&'(%&
1%).1'&3-?%0&'(-'&$,%-1;&O.4%7%1&'("0&"0&,-16%,8&+%$-*0%&./&'(%&$.3),%D"'8&./&
%D).0*1%&./&'(%&(*3-#&1-$%&'.&3-#8&"#/,*%#$%0;&J(%&/-$'&'(-'&P)1../P&./&$-*0%&
-#5&%//%$'&-1%&(-15&'.&$.3%&+8&"0&'(%&3-"#&5%/%#$%&*0%5&+8&'(.0%&4(.&)1%/%1&
'(%&!"#"$!%&$';&O.4%7%1&'(%&4%"6('&./&%7"5%#$%2&$.,,%$'%5&4"'("#&'("0&1%).1'2&"0&
0*//"$"%#'&"#&'(%&-*'(.10P&.)"#".#&'.&$-,,&/.1&'(%&)(-0"#6&.*'&./&"#$"#%1-'".#&-0&-&
4-8&./&5%-,"#6&4"'(&.*1&4-0'%;&&C&-61%%&4"'(&'(-';
J(%1%&"0&-,0.&'(%&L*%0'".#&./&0*0'-"#-+","'8;&A-0'%&5%0'1.8%5&"#&-#&"#$"#%1-'.1&
4",, & +% & 1%),-$%5; & J(-' & "#7.,7%0 & #%4 & 1-4 & 3-'%1"-,02 & 3-#*/-$'*1%2 & '1-#0).1'2&
)-$?-6"#6&%'$&%'$;&C#&$.#'1-0'2&1%5*$'".#2&1%*0%&-#5&1%$8$,"#6&1%)1%0%#'&-&4"#I
4"#&0'1-'%68;&C'&(-0&+%%#&0(.4#&"#&-&#*3+%1&./&5"//%1%#'&$"'"%0&'(-'&("6(&,%7%,0&
./&5"7%10".#&./&4-0'%&9QRST=&$-#&+%&-$("%7%5&1%,-'"7%,8&L*"$?,8;&A(%#&'(-'&
(-))%#02&'(%1%&"0&#.'&7%18&3*$(&,%/'&'.&+*1#2&+*'&-&#*3+%1&./&'(%&)1.5*$'0&,%/'&
4",,&+%&)1.+,%3-'"$2&/.1&%D-3),%&UVW;&&C#$"#%1-'".#2&-#&%#5&./&)")%&-))1.-$(2&
0%#50 & '(% & 3%00-6% & PX. & )1.+,%32 & 4% & (-7% & - & 0.,*'".# & /.1 & 5"0).0-, & ./ & 8.*1&
)1.5*$'2 & $-118 & .# & +*0"#%00 & -0 & *0*-,Y; & A(-' & 0(.*,5 & (-))%# & "0 & - & P/1.#' & %#5&
0.,*'".#P;&!.$"%'8&0(.*,5&+%&-+,%&'.&0-8&PZ.*1&)1.5*$'&"0&*#0*0'-"#-+,%&-#5&-&
(%-,'(&(-B-15&[&0'.)&3-?"#6&"'\;
C#$"#%1-'".#&5%0'1.80&-$$.*#'-+","'8&-#5&'("0&%#$.*1-6%0&"#5*0'1"%0&'.&6.&.#&
3-?"#6&)1.5*$'0&'(-'&,%-5&'.&)1.+,%3-'"$&'.D"$&4-0'%0;&K#$%&'(%&4-0'%&(-0&
+%%#&1%5*$%5&'.&-0(&4(.&$-#&0-8&4(.&3-5%&4(-']&J(%&)-0'&<GS&8%-10&(-0&
0%%# & - & )1.61%00"7% & P'.D"/"$-'".#P & ./ & '(% & 4-0'% & 0'1%-3 & 4"'( & (%-78 & 3%'-,02&
1-5".#*$,"5%0&-#5&08#'(%'"$&(-,.6%#-'%5&.16-#"$&3.,%$*,%0;&C'&"0&'"3%&'.&0'-1'&
1%7%10"#6&'(-'&'1%#5;&A%&4.#P'&-$("%7%&'(-'&4(",%&4%&$.#'"#*%&'.&"#$"#%1-'%&
4-0'%;
^%$%3+%1&HSSG
V878-#&O.4-15&
U1./%00.1&./&_"."3-6"#62&W%#'1%&/.1&>.,%$*,-1&_".0$"%#$%02
`#"7%10"'8&./&`,0'%12&&W1.3.1%&a.-52&W.,%1-"#%2&W.;&b.#5.#5%118&&_JGH&<!c
F
!"#$%#$&
'(%)*$+,%-.*//012----34-5#$1"6*)$+"#
--74-'/+&&+"#&-81"/-5#)+#%10$"1&-0#6-"$9%1-!"/:*&$+"#-."*1)%&
--------743-;01$+)*<0$%&
--------747-=%0,2-/%$0<&
--------74>-?+$1"@%#-"(+6%&
--------74A-B1@0#+)-C"<<*$0#$&
-->4--=%0<$9-'88%)$&-"8-;"<<*$0#$&
-------->43-;01$+)*<0$%&
-------->47-=%0,2-/%$0<&
-------->4>-?+$1"@%#-"(+6%&-0#6-BD"#%
-------->4A-B1@0#+)-$"(+)0#$&
-------->4E-'88%)$&-"#-@%#%$+)-/0$%1+0<
-------->4F-'88%)$&-"#-$9%-+//*#%-&2&$%/
-------->4G-.2#%1@+&$+)-%88%)$&
--A4--5#)1%0&%6-H"1:+6+$2-0#6-H"1$0<+$2-#%01-5#)+#%10$"1&
------A43-!0#)%1
--------A47-I+1$9-6%8%)$&
--------A4>--5&)9%/+)-9%01$-6+&%0&%
--------A4A-!"//%#$
--E4--J+&%0&%-5#)+6%#)%-0#6-;"<<*$+"#
------E43-!0#)%1
--------E47--?%*1"<"@+)0<-6+&%0&%
--------E4>--H%#$0<-6+&%0&%&
--------E4A--K+"<%#)%-0#6-)1+/%
--F4--=+@9-L+&M-N1"*C&
--------F43--O9%-8"%$*&
--------F47--O9%-:1%0&$P8%6-+#80#$
--------F4>--!9+<61%#
--------F4A--O9%-)9%/+)0<<2-&%#&+$+,%
--G4--;0&$-H+&$0M%&-0#6-$9%-;1%)0*$+"#012-;1+#)+C<%
------G43--O9%-;1%)0*$+"#012-;1+#)+C<%
-------G47--Q%01#+#@-81"/-C0&$-/+&$0M%&
-R4--S<$%1#0$+,%-T0&$%-O%)9#"<"@+%&
--------R43--L%P)2)<+#@U-L%P*&%-0#6-!"/C"&$+#@
--------R47--;1"6*)+#@-Q%&&-T0&$%
--------R4>--V%1"-T0&$%
--------R4A--O9%-;1":<%/-"8-;<0&$+)&
--------R4E-S#0%1":+)-J+@%&$+"#-"8-B1@0#+)-H0$$%1
--------R4F--H%)90#+)0<-I+"<"@+)0<-O1%0$/%#$-WHIOX
--------R4G-S6,0#)%6-O9%1/0<-O%)9#"<"@+%&-WSOOX-0#6-;<0&/0-N0&+8+)0$+"#$
--------R4R-N1%%#9"*&%-N0&%&
Y4--O9%-!"&$&-"8-5#)+#%10$+"#
--------Y43--O9%-!"&$&-"8-5#)+#%10$+"#
--------Y47--=%0<$9-!"&$&-"8-5#)+#%10$+"#
--------Y4>--Z+#0#)+0<-N0+#&-81"/-L%6*)+#@-;"<<*$+"#
3
--------Y4A--B$9%1-.$*6+%&-"8-$9%-=%0<$9-!"&$&-"8-;"<<*$+"#
3[4-B$9%1-!"#&+6%10$+"#&-"8-5/C"1$0#)%
--------3[43--O9%-;1":<%/-"8-S&9
--------3[47--5#)+#%10$"1&-0#6-L06+"0)$+,+$2
--------3[4>--.C1%06-"8-;"<<*$0#$&
--------3[4A--!%/%#$-\+<#&
334-H"#+$"1+#@
374--L+&M-S&&%&&/%#$3>4-;*:<+)-L+@9$&-0#6-5#$%1#0$+"#0<-O1%0$+%&
3A4-!"#)<*&+"#&3E4-L%)"//%#60$+"#&
L%8%1%#)%&
G
'(%)*$+,%-.*//012
•
•
•
•
•
•
•
•
•
H&29#$,(=;1#,$"&I#$,"-J0$"19"#2$2&(#,$-*$&;='($&0;$+"1';"--;$+&0+#2$&0;$&',-$
K12("$;#*#+(,$&2-=0;$C=01+15&'$J&,(#$10+10#2&(-2,A$("#$2#,='(,$&2#$+-0,1,(#0($
J1(" $ ("# $ &,,-+1&(1-0, $ K#109 $ +&=,&'L $ D $ 0=CK#2 $ -* $ ,C&''#2 $ #51;#C1-'-91+&'$
,(=;1#, $ ,=55-2( $ ("1, $ 10(#252#(&(1-0 $ &0; $ ,=99#,( $ ("&( $ ("# $ 2&09# $ -* $ 1''0#,,#,$
52-;=+#;$K8$10+10#2&(-2,$C&8$K#$C=+"$J1;#2L$$
/0+10#2&(-2$#C1,,1-0,$&2#$&$C&M-2$,-=2+#$-*$*10#$5&2(1+='&(#,N$-*$(-O1+$C#(&',$
&0; $ -* $ C-2# $ ("&0 $ >?? $ -29&01+ $ +"#C1+&',N $ 10+'=;109 $ P0-J0 $ +&2+10-9#0,N$
C=(&9#0,N$&0;$"-2C-0#$;1,2=5(#2,L$)C1,,1-0,$&',-$+-0(&10$-("#2$=01;#0(1*1#;$
+-C5-=0;,$J"-,#$5-(#0(1&'$*-2$"&2C$1,$&,$8#($=0P0-J0N$&,$J&,$-0+#$("#$+&,#$
J1("$;1-O10,L$ $710+#$("#$0&(=2#$-*$J&,(#$1,$+-0(10=&''8$+"&09109N$,-$1,$("#$
+"#C1+&'$0&(=2#$-*$("#$10+10#2&(-2$#C1,,1-0,$&0;$("#2#*-2#$("#$5-(#0(1&'$*-2$
&;I#2,#$"#&'("$#**#+(,L
Q2#,#0( $ ,&*#(8 $ C#&,=2#, $ &2# $ ;#,190#; $ (- $ &I-1; $ &+=(# $ (-O1+ $ #**#+(, $ 10 $ ("#$
1CC#;1&(# $ 0#19"K-=2"--;N $ K=( $ 190-2# $ ("# $ *&+( $ ("&( $ C&08 $ -* $ ("# $ 5-''=(&0(,$
K1-&++=C='&(#N$#0(#2$("#$*--;$+"&10$&0;$+&0$+&=,#$+"2-01+$1''0#,,#,$-I#2$(1C#$
&0; $ -I#2 $ & $ C=+" $ J1;#2$ 9#-92&5"1+&' $ &2#&L $ R- $ -**1+1&' $ &((#C5(, $ "&I# $ K##0$
C&;#$(-$&,,#,,$("#$#**#+(,$-*$#C1,,1-0,$-0$'-09S(#2C$"#&'("L
/0+10#2&(-2,$52-;=+#$K-((-C$&0;$*'8$&,"$J"1+"-&C-=0($(-$!"#$"%&'(&)*+,-.&
*/ & 01. & *234356+ & 7680.$ T1* $ +-C5&+(#;UN $ &0; $ 2#V=12# $ (2&0,5-2(&(1-0$ (- $ '&0;*1''$
,1(#,L$DK&(#C#0($#V=15C#0($10$C-;#20$10+10#2&(-2,$C#2#'8$(2&0,*#2,$("#$(-O1+$
'-&;N$0-(&K'8$("&($-*$;1-O10,$&0;$"#&I8$C#(&',N$*2-C$&12K-20#$#C1,,1-0,$(-$("#$
*'8$&,"L$!"1,$*'8$&,"$1,$'19"(N$2#&;1'8$J10;K-20#$&0;$C-,('8$-*$'-J$5&2(1+'#$,1W#L$
/($2#52#,#0(,$&$+-0,1;#2&K'#$&0;$5--2'8$=0;#2,(--;$"#&'("$"&W&2;L$$$$
!J-$'&29#$+-"-2($,(=;1#,$10$DC#21+&$"&I#$,"-J0$("&($*10#$TQ: >LGU$5&2(1+='&(#$
&12$5-''=(1-0$+&=,#,$10+2#&,#,$10$&''S+&=,#$C-2(&'1(8N$+&2;1-I&,+='&2$C-2(&'1(8$
&0;$C-2(&'1(8$*2-C$'=09$+&0+#2N$&*(#2$&;M=,(C#0($*-2$-("#2$*&+(-2,L$D$C-2#$
2#+#0(N $ J#''S;#,190#; $ ,(=;8 $ -* $ C-2K1;1(8 $ &0; $ C-2(&'1(8 $ 10 $ 5-,(C#0-5&=,&'$
J-C#0 $ "&, $ +-0*12C#; $ ("1,N$,"-J109 $&$XYZ$10+2#&,# $10 $+&2;1-I&,+='&2 $&0;$
@FZ$10+2#&,#$10$+#2#K2-I&,+='&2$C-2(&'1(8$10$J-C#0$#O5-,#;$(-$"19"#2$'#I#',$
-* $ *10# $ 5&2(1+='&(#,L $ !"#,# $ *10# $ 5&2(1+='&(#, $ &2# $ 521C&21'8 $ 52-;=+#; $ K8$
+-CK=,(1-0$52-+#,,#,$&0;$&2#$#C1((#;$10$'&29#$V=&0(1(1#,$K8$10+10#2&(-2,L$
%19"#2 $ '#I#', $ -* $ *10# $ 5&2(1+='&(#, $ "&I# $ K##0 $ &,,-+1&(#; $ J1(" $ &0 $ 10+2#&,#;$
52#I&'#0+#$-*$&,("C&$&0;$[\QBL$
]10#$5&2(1+='&(#,$*-2C#;$10$10+10#2&(-2,$10$("#$52#,#0+#$-*$(-O1+$C#(&',$&0;$
-29&01+ $ (-O10, $ T10+'=;109 $ ("-,# $ P0-J0 $ (- $ K# $ +&2+10-9#0,UN $ &;,-2K $ ("#,#$
5-''=(&0(,$&0;$+&228$("#C$10(-$("#$K'--;$,(2#&C$&0;$10(-$("#$+#'',$-*$("#$K-;8L$
!-O1+$C#(&',$&++=C='&(#$10$("#$K-;8$&0;$"&I#$K##0$1C5'1+&(#;$10$&$2&09#$-*$
#C-(1-0&'$&0;$K#"&I1-=2&'$52-K'#C,$10$+"1';2#0$10+'=;109$&=(1,CN$;8,'#O1&N$
&((#0(1-0$;#*1+1($&0;$"85#2&+(1I1(8$;1,-2;#2$TDB%BUN$'#&20109$;1**1+='(1#,N$&0;$
;#'10V=#0+8N $ &0; $ 10 $ 52-K'#C, $ 10 $ &;='(, $ 10+'=;109 $ I1-'#0+#N $ ;#C#0(1&N$
;#52#,,1-0$ &0;$ Q&2P10,-0^, $ ;1,#&,#L$ /0+2#&,#;$ 2&(#, $ -*$&=(1,C$ &0; $ '#&20109$
;1,&K1'1(1#,$"&I#$K##0$0-(#;$(-$-++=2$&2-=0;$,1(#,$("&($2#'#&,#$C#2+=28$10(-$("#$
#0I12-0C#0(L$!-O1+$C#(&',$&2#$=01I#2,&''8$52#,#0($10$10+10#2&(-2$#C1,,1-0,$&0;$
52#,#0($10$"19"$+-0+#0(2&(1-0,$10$("#$*'8$&,"L
7=,+#5(1K1'1(8 $ (- $ +"#C1+&' $ 5-''=(&0(, $ I&21#,N $ ;#5#0;109 $ -0 $ 9#0#(1+ $ &0;$
&+V=12#; $ *&+(-2,N $ J1(" $ ("# $ C&O1C=C $ 1C5&+( $ K#109 $ -0 $ ("# $ *-#(=,L $ D+=(#$
Y
•
•
•
•
•
•
•
•
•
#O5-,=2#$+&0$'#&;$(-$,#0,1(1,&(1-0$-*$,-C#$10;1I1;=&',N$'#&I109$("#C$J1("$'1*#S
'-09$'-J$;-,#$+"#C1+&'$,#0,1(1I1(8L$
]#J $ +"#C1+&' $ +-CK10&(1-0, $ "&I# $ K##0 $ (#,(#; $ *-2 $ (-O1+1(8N $ #I#0 $ ("-=9"$
,80#291,(1+$#**#+(,$"&I#$K##0$;#C-0,(2&(#;$10$("#$C&M-21(8$-*$+&,#,$J"#0$("1,$
(#,(109$"&,$K##0$;-0#L$$!"1,$,80#298$+-=';$92#&('8$10+2#&,#$("#$(-O1+1(8$-*$("#$
5-''=(&0(,$#C1((#;N$K=($("1,$;&09#2$"&,$0-($K##0$&,,#,,#;L
6-(" $ +&0+#2 $ &0; $ &,("C& $ "&I# $ 10+2#&,#; $ 2#'#0('#,,'8 $ &'-09 $ J1("$
10;=,(21&'1,&(1-0N$&0;$+&0+#2$2&(#,$"&I#$K##0$,"-J0$(-$+-22#'&(#$9#-92&5"1+&''8$
J1(" $ K-(" $ (-O1+ $ J&,(# $ (2#&(C#0( $ *&+1'1(1#, $ &0; $ ("# $ 52#,#0+# $ -* $ +"#C1+&'$
10;=,(21#,N$5-10(109$(-$&0$=29#0($0##;$(-$2#;=+#$-=2$#O5-,=2#L
/0$("#$_`N$,-C#$10+10#2&(-2,$K=20$2&;1-&+(1I#$C&(#21&'$52-;=+109$2&;1-&+(1I#$
5&2(1+='&(#,L$/0"&'&(1-0$&''-J,$#0(28$10(-$("#$K-;8$-*$("1,$2&;1-&+(1I#$C&(#21&'$
J"1+"$+&0$,=K,#V=#0('8$#C1($&'5"&$-2$K#(&$2&;1&(1-0L$!"#,#$(85#,$-*$2&;1&(1-0$
"&I#$'-J$;&09#2$-=(,1;#$("#$K-;8$K=($&2#$"19"'8$;#,(2=+(1I#$J1("10L$R-$,(=;1#,$
"&I#$K##0$;-0#$(-$&,,#,,$("#$;&09#2$(-$"#&'("$-*$("#,#$2&;1-&+(1I#$#C1,,1-0,L
7-C# $ +"#C1+&' $ 5-''=(&0(, $ ,=+" $ &, $ 5-'8&2-C&(1+ $ "8;2-+&2K-0, $ TQD%,U $ &0;$
"#&I8$C#(&',$&2#$P0-J0$(-$+&=,#$9#0#(1+$+"&09#,L$!"1,$2#52#,#0(,$0-($-0'8$&$
21,P$(-$52#,#0($9#0#2&(1-0,$K=($(-$*=(=2#$9#0#2&(1-0,L
:-01(-2109$-*$10+10#2&(-2, $"&,$K##0$=0,&(1,*&+(-28$10$("#$'&+P$-*$219-2N$("#$
10*2#V=#0+8$ -*$C-01(-2109N $("# $,C&'' $ 0=CK#2 $ -*$+-C5-=0;, $C#&,=2#;N $("#$
'#I#',$;##C#;$&++#5(&K'#N$&0;$("#$&K,#0+#$-*$K1-'-91+&'$C-01(-2109L$D552-I&'$
-*$0#J$10,(&''&(1-0,$"&,$;#5#0;#;$-0$C-;#''109$;&(&N$,=55-,#;$(-$K#$,+1#0(1*1+$
C#&,=2#,$-*$,&*#(8N$#I#0$("-=9"$("#$C#("-;$=,#;$"&,$0-$C-2#$("&0$&$F?Z$
&++=2&+8$-*$52#;1+(109$5-''=(&0(, $'#I#', $+-22#+('8$&0;$190-2#,$("#$1C5-2(&0($
52-K'#C,$-*$,#+-0;&28$5&2(1+='&(#,$&0;$+"#C1+&'$10(#2&+(1-0,L
/($"&,$K##0$+'&1C#;$("&($C-;#20$&K&(#C#0($52-+#;=2#,$2#0;#2$("#$#C1,,1-0,$
*2-C$10+10#2&(-2,$,&*#N$K=($("1,$1,$1C5-,,1K'#$(-$#,(&K'1,"$&0;$J-=';$&55'8$-0'8$
(-$#C1,,1-0,$9#0#2&(#;$=0;#2$,(&0;&2;$-5#2&(109 $+-0;1(1-0,L$\*$C=+"$C-2#$
+-0+#20 $ &2# $ 0-0S,(&0;&2; $ -5#2&(109 $ +-0;1(1-0, $ 10+'=;109 $ ,(&2(S=5 $ &0; $ ,"=(S
;-J0$J"#0$'&29#$I-'=C#,$-*$5-''=(&0(,$&2#$2#'#&,#;$J1("10$&$,"-2($5#21-;$-*$
(1C#L $ !J- $ -* $ ("# $ C-,( $ "&W&2;-=, $ #C1,,1-0, $ a $ *10# $ 5&2(1+='&(#, $ &0; $ "#&I8$
C#(&',$a$&2#$2#'&(1I#'8$2#,1,(&0($(-$2#C-I&'L$$
!"#$,&*#(8$-*$0#J$10+10#2&(-2$10,(&''&(1-0,$+&00-($K#$#,(&K'1,"#;$10$&;I&0+#$
&0;N $ &'("-=9" $ 219-2-=, $ 10;#5#0;#0( $ "#&'(" $ C-01(-2109 $ C19"( $ 91I# $ 21,# $ (-$
,=,51+1-0,$-*$&;I#2,#$#**#+(,$-0$("#$*-#(=,$&0;$10*&0($J1("10$&$*#J$8#&2,N$("1,$
(85#$-*$C-01(-2109$"&,$0-($K##0$5=($10$5'&+#N$&0;$10$("#$,"-2($(#2C$J-=';$0-($
2#&+"$,(&(1,(1+&'$,1901*1+&0+#$*-2$10;1I1;=&'$10,(&''&(1-0,L$\("#2$#**#+(,N$,=+"$&,$
&;='( $ +&0+#2,N $ +-='; $ K# $ ;#'&8#; $ *-2 $ &( $ '#&,( $ (#0 $ (- $ (J#0(8 $ 8#&2,L $ /( $ J-=';$
("#2#*-2#$K#$&552-521&(#$(-$&55'8$("#$52#+&=(1-0&28$5210+15'#$"#2#L
!"#2#$&2#$0-J$&'(#20&(1I#$C#("-;,$-*$;#&'109$J1("$J&,(#$J"1+"$J-=';$&I-1;$
("# $ C&10 $ "#&'(" $ "&W&2;, $ -* $ 10+10#2&(1-0N $ J-='; $ 52-;=+# $ C-2# $ #0#298 $ &0;$
J-=';$K#$*&2$+"#&5#2$10$2#&'$(#2C,N$1*$("#$"#&'("$+-,(,$J#2#$(&P#0$10(-$&++-=0(L$
/0+10#2&(-2,$52#,#0('8$+-0(2&I#0#$K&,1+$"=C&0$219"(,$&,$,(&(#;$K8$("#$_01(#;$
R&(1-0,$[-CC1,,1-0$-0$%=C&0$419"(,N$10$5&2(1+='&2$("#$419"($(-$H1*#$=0;#2$
("#$)=2-5#&0$%=C&0$419"(,$[-0I#0(1-0N$K=($&',-$("#$7(-+P"-'C$[-0I#0(1-0$
&0;$("#$)0I12-0C#0(&'$Q2-(#+(1-0$D+($-*$Ebb?L$ $!"#$*-#(=,N$10*&0($&0;$+"1';$
&2#$C-,($&($21,P$*2-C$10+10#2&(-2$#C1,,1-0,A$("#12$219"(,$&2#$("#2#*-2#$K#109$
190-2#; $ &0; $ I1-'&(#;N $ J"1+" $ 1, $ 0-( $ 10 $ P##5109 $ J1(" $ ("# $ +-0+#5( $ -* $ & $ M=,($
X
•
,-+1#(8L $R-2$1,$("#$52#,#0($5-'1+8$-*$'-+&(109$10+10#2&(-2,$10$;#521I#;$&2#&,$
J"#2#$("#12$"#&'("$#**#+(,$J1''$K#$C&O1C&'A$("1,$0##;,$=29#0($2#I1#JL
4#I1#J109 $ ("# $ '1(#2&(=2# $ *-2 $ ("# $ ,#+-0; $ #;1(1-0 $ "&, $ +-0*12C#; $ -=2 $ #&2'1#2$
+-0+'=,1-0,L $ 4#+#0( $ 2#,#&2+"N $ 10+'=;109 $ ("&( $ 2#'&(109 $ (- $ *10# $ &0; $ ='(2&*10#$
5&2(1+='&(#,N$("#$+-,(,$-*$10+10#2&(1-0N$(-9#("#2$J1("$2#,#&2+"$10I#,(19&(109$0-0S
,(&0;&2;$ #C1,,1-0, $ *2-C $10+10#2&(-2,N$"&, $;#C-0,(2&(#; $("&($("#$"&W&2;, $-*$
10+10#2&(1-0$&2#$92#&(#2$("&0$52#I1-=,'8$2#&'1,#;L$!"#$&++=C='&(#;$#I1;#0+#$-0$
("#$"#&'("$21,P,$-*$10+10#2&(-2,$1,$,1C5'8$(--$,(2-09$(-$190-2#$&0;$("#12$=,#$
+&00-($K#$M=,(1*1#;$0-J$("&($K#((#2N$+"#&5#2$&0;$*&2$'#,,$"&W&2;-=,$C#("-;,$-*$
J&,(#$;1,5-,&'$"&I#$K#+-C#$&I&1'&K'#L$.#$("#2#*-2#$+-0+'=;#$("&($0-$C-2#$
10+10#2&(-2,$,"-=';$K#$&552-I#;L
34--5#$1"6*)$+"#
6-("$("#$&C-=0($-*$J&,(#$&0;$1(,$5-(#0(1&'$(-O1+1(8$&2#$10+2#&,109L$DI&1'&K'#$
'&0;*1'' $ ,1(#, $ &2# $ K#109 $ =,#; $ =5 $ &0; $ 10+10#2&(1-0 $ 1, $ K#109 $ ,##0 $ 10+2#&,109'8 $ &, $ &$
,-'=(1-0 $ (- $ ("# $ J&,(# $ 52-K'#CL $ !"1, $ 2#5-2( $ #O&C10#, $ ("# $ '1(#2&(=2# $ +-0+#20109 $ ("#$
"#&'("$#**#+(,$-*$10+10#2&(-2,L$
/0+10#2&(-2,$52-;=+#$5-''=(1-0$10$(J-$J&8,L$]12,('8N$("#8$;1,+"&29#$"=0;2#;,$
-* $ 5-''=(&0(, $ 10(- $ ("# $ &(C-,5"#2#L $ D'("-=9" $ ,-C# $ &((#0(1-0 $ "&, $ K##0 $ 5&1; $ (- $ ("#$
9*59.502603*58$-*$("#$C&M-2$+"#C1+&',$#C1((#;$10$&0$#**-2($(-$&I-1;$&+=(#$'-+&'$(-O1+$
#**#+(,N$("1,$1,$-0'8$5&2($-*$("#$52-K'#CL$$:&08$-*$("#,#$+"#C1+&',$&2#$K-("$(-O1+$&0;$
K1-S&++=C='&(1I#N$K=1';109$=5$-I#2$(1C#$10$("#$K-;8$10$&0$10,1;1-=,$*&,"1-0$J1("$("#$
21,P$-*$+"2-01+$#**#+(,$&($C=+"$'-J#2$#O5-,=2#,L$H1(('#$1,$P0-J0$&K-=($("#$21,P,$-*$
C&08 $ -* $ ("#,# $ 5-''=(&0(,N $ 5&2(1+='&2'8 $ J"#0 $ +-CK10#;L $ /0 $ &;;1(1-0N $ 10+10#2&(-2,$
+-0I#2( $ ,-C# $ -* $ ("# $ J&,(# $ 10(- $ &," $ &0; $ ,-C# $ -* $ ("1, $ &," $ J1'' $ +-0(&10 $ "19"$
+-0+#0(2&(1-0,$-*$(-O1+$,=K,(&0+#,$,=+"$&,$;1-O10,$&0;$"#&I8$C#(&',N$+2#&(109$&$C&M-2$
5-''=(1-0$52-K'#C$*-2$*=(=2#$9#0#2&(1-0,L$Q-''=(&0(,$*2-C$'&0;*1''$"&I#$&'2#&;8$K##0$
,"-J0$(-$ ,##5 $;-J0$ &0;$5-''=(# $J&(#2 $,-=2+#,L $ $/($1, $&',- $1C5-2(&0( $(-$0-(# $("&($
10+10#2&(1-0$;-#,$0-($,-'I#$("#$'&0;*1''$52-K'#C$K#+&=,#$-*$("#$'&29#$I-'=C#,$-*$("#$
&,"$("&($&2#$52-;=+#;L
!"#2#$"&I#$K##0$2#'&(1I#'8$*#J$,(=;1#,$-*$5-5='&(1-0,$#O5-,#;$(-$10+10#2&(-2$
#C1,,1-0,$-2$-*$-++=5&(1-0&'$#O5-,=2#$(-$10+10#2&(-2,$T,##$,#+(1-0$3UN$K=($C-,($,"-J$
"19"#2S("&0S#O5#+(#;$'#I#',$-*$+&0+#2$&0;$K12("$;#*#+(,$10$("#$'-+&'$5-5='&(1-0$&0;$
10+2#&,#; $1,+"&#C1+ $"#&2($;1,#&,#$"&, $K##0 $2#5-2(#;$10 $10+10#2&(-2 $J-2P#2,L$!"#,#$
*10;109,$&2#$;1,(=2K109$K=(N$(&P#0$&'-0#N$("#8$C19"($-0'8$,#2I#$(-$&'#2($("#$,+1#0(1*1+$
+-CC=01(8 $ (- $5-,,1K'# $ ;&09#2, $ K=($ *-2$ (J-$ *&+(,L $ $!"# $*12,( $1, $("# $ &+P0-J'#;9#;$
;1**1+='(8$-*$#,(&K'1,"109$K#8-0;$V=#,(1-0$("#$+"2-01+$#**#+(,$&,,-+1&(#;$J1("$&08$,-2($
-*$#0I12-0C#0(&' $#O5-,=2#L $ $ !"#$,#+-0;$1,$("#$I-'=C# $-*$#I1;#0+#$'10P109$"#&'("$
#**#+(,$J1("$#O5-,=2#$(-$("#$10;1I1;=&'$+-CK=,(1-0$52-;=+(,$P0-J0$(-$K#$;1,+"&29#;$
K8$10+10#2&(-2,$&0;$-("#2$+-CK=,(1-0$52-+#,,#,L$
$ !"# $ 5=25-,# $ -* $ ("1, $ 2#5-2( $ 1, $ (- $ '--P $ &( $ &'' $ ("# $ #I1;#0+# $ &0; $ +-C# $ (- $ &$
K&'&0+#; $ I1#J $ &K-=( $ ("# $ *=(=2# $ ;&09#2, $ ("&( $ J-='; $ K# $ &,,-+1&(#; $ J1(" $ ("# $ 0#O($
9#0#2&(1-0$-*$J&,(#$10+10#2&(-2,L$!"#2#$&2#$9--;$2#&,-0,$*-2$=0;#2(&P109$("1,$2#I1#JL$
!"#$"1,(-28$-*$,+1#0+#$,"-J,$("&($1($-*(#0$(&P#,$;#+&;#,$(-$1;#0(1*8$("#$"#&'("$#**#+(,$
-*$(-O1+$#O5-,=2#,$K=(N$J1("$"10;,19"(N$#&2'8$J&20109$,190,$J#2#$-*(#0$52#,#0($J"1+"$
"&;$9-0#$=0"##;#;L$/($1,$2&2#$*-2$("#$#**#+(,$-*$#0I12-0C#0(&'$#O5-,=2#,$(-$"&I#$K##0$
&0(1+15&(#;$10$&;I&0+#L$]-2$10,(&0+#$1($J&,$0-($&0(1+15&(#;$("&($("#$-';#2$9#0#2&(1-0$-*$
@
10+10#2&(-2,$10$("#$_`$J-=';$52-I#$(-$K#$&$C&M-2$,-=2+#$-*$+-0(&C10&(1-0$-*$("#$*--;$
,=55'8 $J1(" $ ;1-O10,L $ /0$ &,,#,,109 $("# $#I1;#0+# $J# $,"&'' $ &',- $'--P $&( $;&(& $ *2-C $&$
0=CK#2$-*$-("#2$&2#&,$J"1+"$J#$K#'1#I#$(-$K#$2#'#I&0(N$10+'=;109 $2#,#&2+"$-0$("#$
10+2#&,#;$I='0#2&K1'1(8$-*$("#$*-#(=,$(-$(-O1+$#O5-,=2#,N$&0;$("#$21,P$-*$,80#291,(1+$
#**#+(, $ K#(J##0 $ +"#C1+&',N $ ("# $ "19"#2 $ 21,P, $ (- $ 5#-5'# $ C-2# $ ,#0,1(1I# $ (- $ +"#C1+&'$
5-''=(1-0N$("#$;1**1+='(1#,$-*$"&W&2;$&,,#,,C#0(N$("#$52-K'#C,$-*$C-01(-2109$&0;$("#$
"#&'("$+-,(,$-*$10+10#2&(1-0L$
74 - '/+&&+"#& - 81"/ - 5#)+#%10$"1& - 0#6 - "$9%1 - !"/:*&$+"#."*1)%&
!"# $#O&+( $ +-C5-,1(1-0 $ -*$#C1,,1-0, $*2-C $10+10#2&(-2, $J1'' $I&28$J1(" $J"&($
J&,(# $ 1, $ K#109 $ K=20( $ &( $ &08 $ 91I#0 $ (1C#N $ ("# $ #**1+1#0+8 $ -* $ ("# $ 10,(&''&(1-0 $ &0; $ ("#$
5-''=(1-0$+-0(2-'$C#&,=2#,$10$5'&+#L$$D$C=01+15&'$J&,(#$10+10#2&(-2$J1''$(&P#$10$&$92#&($
I&21#(8$-*$J&,(#$+-0(&C10&(#;$K8$"#&I8$C#(&',$&0;$K8$C&0SC&;#$-29&01+$+"#C1+&',L$
B=2109$10+10#2&(1-0$C-2#$(-O1+$*-2C,$-*$,-C#$-*$("#,#$,=K,(&0+#,$+&0$K#$+2#&(#;L$!"#$
("2## $C-,( $1C5-2(&0( $+-0,(1(=#0(, $-*$("#$#C1,,1-0,N $10$(#2C, $-*$"#&'(" $#**#+(,N$&2#$
5&2(1+='&(#,N$"#&I8$C#(&',$&0;$+-CK=,(1-0$52-;=+(,$-*$C&0SC&;#$+"#C1+&',c$("#$'&((#2$
(J-$+&0$K#$&;,-2K#;$-0(-$("#$,C&''#2$5&2(1+='&(#,$C&P109$("#C$#,5#+1&''8$"&W&2;-=,L$
!"#$J1;#$2&09#$-*$+"#C1+&',$P0-J0$(-$K#$52-;=+(,$-*$+-CK=,(1-0$10+'=;#$,='5"=2$
;1-O1;#N $ -O1;#, $ -* $ 01(2-9#0N $ -I#2 $ & $ "=0;2#; $ I-'&(1'# $ -29&01+ $ +-C5-=0;, $ Td\[,UN$
;1-O10,N$5-'8&2-C&(1+$"8;2-+&2K-0,$TQD%,UN$5-'8+"'-210&(#;$K15"#08',$TQ[6,U$&0;$
*=2&0,L$$
$$
743--;01$+)*<0$%&
Q&2(1+='&(#,$&2#$(108$5&2(1+'#,$10$("#$&12$("&($&2#$+'&,,1*1#;$K8$,1W#L$Q:E?,$"&I#$&$
;1&C#(#2$-*$'#,,$("&0$E?$C1+2-0,$J"#2#&,$*10#$5&2(1+='&(#,$TQ:>LG,U$&2#$'#,,$("&0$>LG$
C1+2-0, $ &0; $ ='(2&*10# $ 5&2(1+='&(#, $ TQ:?LE,U $ &2# $ '#,, $ ("&0 $ ?LE $ C1+2-0L $ /0+10#2&(-2,$
52-;=+#$"=9#$V=&0(1(1#,$-*$*10#$&0;$='(2&*10#$5&2(1+='&(#,L$/0+10#2&(-2,$&2#$5#2C1((#;$(-$
#C1( $ 5&2(1+='&(#, $ &( $ & $ 2&(# $ -* $ E?C9 $ 5#2 $ +=K1+ $ C#(2# $ -* $ 9&,#-=, $ ;1,+"&29#L$ !"#$
+-CC-0'8S=,#;$K&9"-=,#$*1'(#2, $&+($'1P#$&$,1#I#N$#**#+(1I#'8$&''-J109 $("#$,C&''#,($
5&2(1+='&(#,$(-$9#($("2-=9"$&0;$K'-+P109$("#$'#,,$;&09#2-=,N$'&29#2$5&2(1+='&(#,L$\0'8$
GSF?Z$-*$("#$Q:>LLG,$J1''$K#$2#C-I#;$K8$("#,#$*1'(#2,$&0;$I12(=&''8$0-0#$-*$("#$Q:?LE,L$
/0 $ *&+( $ ("# $ C&M-21(8 $ -* $ 5&2(1+'#, $ #C1((#; $ K8 $ 10+10#2&(-2, $ &2# $ ("# $ C-,( $ ;&09#2-=,$
='(2&*10#$5&2(1+='&(#,EL$!"#$K&9"-=,#$*1'(#2,$&2#$'#&,($#**#+(1I#$&($2#C-I109$("#$,C&''#,($
5&2(1+'#,N$#,5#+1&''8$("-,#$-*$?L>$(-$?LF$C1+2-0,N$&0;$("#,#$J1''$"&I#$&$+-0,1;#2&K'#$
"#&'("$1C5&+(L$%#&'("$#**#+(,$&2#$;#(#2C10#;$K8$("#$0=CK#2$&0;$,1W#$-*$5&2(1+'#,$&0;$
0-($("#$J#19"(L$:#&,=2#C#0(,$-*$("#$5&2(1+'#$,1W#$;1,(21K=(1-0 $'(&7.3410$ J1''$91I#$&$
*&',#$1C52#,,1-0$-*$,&*#(8$;=#$(-$("#$"19"#2$J#19"($-*$("#$'&29#2$5&2(1+='&(#,L&Q-''=(1-0$
&K&(#C#0($#V=15C#0(N$10,(&''#;$(-$2#;=+#$#C1,,1-0,$-*$01(2-9#0$-O1;#,N$C&8$&+(=&''8$
10+2#&,#$#C1,,1-0,$-*$("#$Q:>LG$5&2(1+='&(#,>L$!"#$&CC-01&$=,#;$10$("1,$52-+#,,$2#&+(,$
J1("$,='5"=2-=,$&+1;$*-2C#;$J"#0$,(#&C$&0;$,='5"=2$;1-O1;#$+-CK10#$&,$("#8$(2&I#'$
=5$("#$,(&+PN$'#&;109$(-$("#$52-;=+(1-0$-*$,#+-0;&28$5&2(1+='&(#,L$!"#,#$,#+-0;&28$
5&2(1+='&(#, $ &2# $ *-2C#; $ K#8-0; $ ("# $ *1'(#2, $ &0; $ #C1((#; $ =0&K&(#;A $ ("#8 $ +&0 $ #&,1'8$
;-=K'#$("#$(-(&'$I-'=C#$-*$5&2(1+='&(#,$#C1((#;FL$Q2#,#0($C-;#''109$C#("-;,$;-$0-($
(&P#$,#+-0;&28$5&2(1+='&(#,$10(-$&++-=0(-T,##$,#+(1-0$E>UL$
-7(=;1#,$"&I#$,"-J0$("&($(-O1+$C#(&',$&++=C='&(#$-0$("#$,C&''#,($5&2(1+='&(#, F$
&0;$("&($bGZ$-*$5-'8+8+'1+$&2-C&(1+$"8;2-+&2K-0,$TQD%,U$&2#$&,,-+1&(#;$J1("$*10#$
b
5&2(1+='&(#,$TQ:F$ &0;$K#'-JU $GSXL$QD%,$&2#$(-O1+$&0;$+&2+10-9#01+N$&0;$1($"&,$K##0$
#,(1C&(#;$("&($("#,#$10+2#&,#$("#$'=09$+&0+#2$21,P$K8$XL@$(1C#,@L
747--=%0,2-H%$0<&
/0+10#2&(-2,$&2#$&''-J#;$(-$#C1($E?C9$5#2$+=K1+$C#(2#$-*$5&2(1+='&(#,$&0;$EC9$
5#2$+=K1+$C#(2#$-*$C#(&',L$!"#$'1C1(,$C#&0$'1(('#$&,N$#I#0$J1("10$("#,#$'1C1(,N$("#$(-(&'$
&C-=0($-*$5&2(1+='&(#,$&0;$C#(&',$#C1((#;$J1''$I&28$J1("$("#$I-'=C#$5#2$,#+-0;$-*$
#C1,,1-0,$9#0#2&(#;$K8$("#$10+10#2&(-2$&0;$("1,$+&0$I&28$"=9#'8L$D$*=2("#2$+-0+#20$1,$
("&($("#2#$&2#$0-$,(&(=(-28$&CK1#0($&12$V=&'1(8$,(&0;&2;,$*-2$"#&I8$C#(&',$&5&2($*2-C$
'#&;N$J"1+"$C#&0,$("#$'#I#',$-*$"#&I8$C#(&',$10$("#$,=22-=0;109$&12$;-$0-($0##;$(-$K#$
C-01(-2#;L$
!"#$52-5-2(1-0$-*$C#(&',$(-$5&2(1+='&(#,$&''-J#;$(-$K#$#C1((#;$K8$10+10#2&(-2,$
1, $ I#28 $ "19" $ &0; $ C=+" $ "19"#2 $ ("&0 $ *-=0; $ 10 $ #C1,,1-0, $ *2-C $ +&2,L $ D( $ ("# $ "19"$
(#C5#2&(=2#,$*-=0;$10$10+10#2&(-2,$C#(&',$&2#$2#'#&,#;$*2-C$C#(&''1+$J&,(#N$5'&,(1+,$
&0;$C&08$-("#2$,=K,(&0+#,L$:&08$-*$("#$"#&I8$C#(&',$#C1((#;N$,=+"$&,$+&;C1=CN$&2#$
(-O1+$&($I#28$'-J$+-0+#0(2&(1-0,L$!"#$,#'#+(1I# $&((&+"C#0( $-*$"#&I8$C#(&', $(-$("#$
,C&''#,( $ 5&2(1+='&(#, $ #C1((#; $ *2-C $ 10+10#2&(-2,3$ 10+2#&,#, $ ("# $ (-O1+1(8 $ -* $ ("#,#$
5&2(1+='&(#,L $ !"1, $ *&+( $ 1, $ '1P#'8 $ (- $ C&P# $ ("# $ 5&2(1+='&(#, $ *2-C $ 10+10#2&(-2, $ C-2#$
;&09#2-=,$("&0$5&2(1+='&(#,$*2-C$-("#2$,-=2+#,$,=+"$&,$*2-C$+&2,L
74>--?+$1"@%#-B(+6%&
4#C-I&'$-*$01(21+$-O1;#$K8$10+10#2&(-2,$1,$-0'8$&K-=($Y?Z$#**#+(1I#$&0;$("#$
01(21+$-O1;#$1,$("#0$+-0I#2(#;$(-$01(2-9#0$;1-O1;#$(-$*-2C$,C-9$&0;$&+1;$2&10L$7=0'19"($
&+(,$-0$01(2-=,$-O1;#,$&0;$I-'&(1'#$-29&01+$+-C5-=0;,$Td\[,U$(-$52-;=+#$&0-("#2$
5-''=(&0(N$-W-0#L
74A--B1@0#+)-;"<<*$0#$&
D $ J1;# $ 2&09# $ -* $ -29&01+ $ 5-''=(&0(, $ &2# $ #C1((#; $ *2-C $ 10+10#2&(-2,L $ !"#,#$
10+'=;#$QD%,$T5-'8+8+'1+$&2-C&(1+$"8;2-+&2K-0,UN$Q[6,$T5-'8+"'-210&(#;$K15"#08',UN$
;1-O10,N$*=2&0,N$5"("&'&(#,N$P#(-0#,N$&';#"8;#,N$-29&01+$&+1;,$&0;$&'P#0#,L$
!"#$J&,(#$K#109$K=20($0-J$;1**#2,$+-0,1;#2&K'8$*2-C$("&($K=20($10$("#$5&,($
J1("$&$"19"#2$'-&;$-*$"#&I8$C#(&',$&0;$5'&,(1+,$52-;=+109$*&2$92#&(#2$5-(#0(1&'$*-2$
"#&'("$&0;$#0I12-0C#0(&'$52-K'#C,L$D0$#O&C5'#$-*$("1,$1,$Qd[$J"1+"$1,$C-2#$("&0$
b?Z$-29&01+$+"'-210#L$/($"&,$K##0$=,#;$#O(#0,1I#'8$*-2$;--2,$&0;$J10;-J,$&0;$J1("$
&0$#O5#+(#;$'1*#$-*$3?$8#&2,$1($1,$'1P#'8$(-$&55#&2$10$10+2#&,109$V=&0(1(1#,$10$("#$J&,(#$
,(2#&CL$!"1,$+-=';$#&,1'8$2&1,#$("#$-29&01+$+"'-210#$10$("#$J&,(#$,(2#&C$(-$-I#2$EZN$
J"1+"$&++-2;109$(-$("#$)=2-5#&0$.&,(#$B12#+(1I#$J-=';$C#&0$("#$J&,(#$J-=';$K#$
2#9&2;#;$&,$"&W&2;-=,L$
:&08$-*$("#$+-C5-=0;,$&2#$P0-J0$(-$K#$0-($-0'8$(-O1+$K=($K1-S&++=C='&(1I#$
&0;$5#2,1,(#0(L$!"#8$10+'=;#$+-C5-=0;,$("&($"&I#$K##0$2#5-2(#;$(-$&**#+($("#$1CC=0#$
,8,(#CbN$&((&+"$(-$+"2-C-,-C#,E?N$;1,2=5($"-2C-0#$2#9='&(1-0EEN$(2199#2$+&0+#2E>N$&'(#2$
K#"&I1-=2EFN$&0;$'-J#2$10(#''19#0+#E3L$!"#$I#28$'1C1(#;$(-O1+1(8$;&(&$-0$C&08$-*$("#,#$
,=K,(&0+#, $ 1, $ & $ C&((#2 $ -* $ +-0+#20EGL $ !"# $ +"&09109 $ 0&(=2# $ -* $ J&,(# $ C#&0, $ 0#J$
,=K,(&0+#,$&2#$'1P#'8$(-$K#$#C1((#;$&0;$+2#&(#;L$]-2$#O&C5'#$5-'8K2-C10&(#;$;15"#08'$
#("#2,$TQ6B),U$&2#$*-=0;$10$C&08$#'#+(21+&'$9--;,$&0;$&2#$10+2#&,109'8$*10;109$("#12$
J&8$10(-$10+10#2&(-2$J&,(#L$!"#8$"&I#$K##0$*-=0;$(-$&**#+($K2&10$;#I#'-5C#0($&0;$
&**#+($("#$("82-1;$9'&0;$&0;$+&=,#$K#"&I1-=2&'$&0;$'#&20109$;#*#+(,$10$&01C&',EYNEXL$
E?
>4--=%0<$9-'88%)$&-"8-;"<<*$0#$&
>43--;01$+)*<0$%&
D $ '&29# $ &0; $ 92-J109 $ K-;8 $ -* $ '1(#2&(=2# $ "&, $ "19"'19"(#; $ ("# $ ;&09#2, $ -*$
5&2(1+='&(#,$(-$"#&'("L$d&21-=,$,(=;1#,$"&I#$+-0*12C#;$("&($01.&8-6++.2&01.&83:.&*/&01. &
;62039+.8&01.&-*2.&<654.2*,8&01.&1.6+01&.//.908E@S>EL$!"#$;&(&$*2-C$("#$.-2';$%#&'("$
\29&01,&(1-0$,"-J0$10$("#$92&5"$K#'-J$+'#&2'8$1''=,(2&(#,$("&($Q:>LG$5&2(1+'#,$"&I#$&$
92#&(#2$#**#+($-0$;&1'8$C-2(&'1(8$("&0$("#$'&29#2$Q:E?,E@L$$
Z+@*1%-34-5#)1%0&%-+#-60+<2-/"1$0<+$2-0&-0-8*#)$+"#-"8-;H-)"#)%#$10$+"#4
T2#52-;=+#;$*2-C$2#*$$E@N$]19=2#$FLYU
!"#$,C&''#2$5&2(1+'#,$&2#$0-($*1'(#2#;$-=($K8$("#$0-,#$&0;$K2-0+"1-'#,$&0;$("#12$
C101,+='#$,1W#$&''-J,$("#C$(-$K#$K2#&("#;$;##5'8$10(-$("#$'=09,$&0;$(-$K#$&K,-2K#;$
;12#+('8$10(-$("#$K'--;$,(2#&C$J"#2#$("#8$+&0$5#2,1,($*-2$"-=2,>>L$!"#8$+&0$("#0$(2&I#'
("2-=9"$("#$+#''$J&'',$&0;$10(-$("#$+#''$0=+'#=,$&**#+(109$("#$+#''^,$BRDL$!"#$.%\$
,(&(#$("&($("#2#$1,$0-$,&*#$'#I#'$-*$Q:>LGE@&0;$"#&'("$#**#+(,$"&I#$K##0$-K,#2I#;$&($
,=2521,109'8 $ '-J $ +-0+#0(2&(1-0, $ J1(" $ 0- $ ("2#,"-';>FN>3L $ !"# $ ,C&''#,( $ 5&2(1+='&(#,N$
5&2(1+='&2'8$("#$='(2&*10#$5&2(1+='&(#,$TQ:?LEU$&2#$"19"'8$+"#C1+&''8$2#&+(1I#N$&$52-5#2(8$
-* $ ("#12 $ ,C&'' $ ,1W# $ &0; $ '&29# $ ,=2*&+# $ &2#&>GL $ D $ *=2("#2 $ ;&09#2 $ -* $ ("# $ ,C&''#,(
5&2(1+='&(#,$1,$("&($("#2#$&2#$("-=,&0;,$C-2#$-*$("#C$5#2$=01($J#19"(L$/0$10+10#2&(-2,$
"#&I8$C#(&',N$;1-O10,$&0;$-("#2$+"#C1+&',$+&0$&;"#2#$(-$("#12$,=2*&+#>Y$ 10+2#&,109$
("#12$(-O1+1(8L$!"#$K-;8$;-#,$0-($"&I#$#**1+1#0($C#+"&01,C,$*-2$+'#&2109$("#$;##5#2$
5&2($-*$("#$'=09$&,$-0'8$&$(108$*2&+(1-0$-*$0&(=2&'$5&2(1+'#,$J1''$K#$&,$,C&''$&,$("1,L$
D, $ 10+10#2&(-2, $ &2# $ #**#+(1I#'8 $ 5&2(1+='&(# $ 9#0#2&(-2, $ &0; $ 52-;=+#
52#;-C10&(#'8$("#$,C&''#2$5&2(1+='&(#,$("&($"&I#$("#$K199#,($#**#+($-0$C-2(&'1(8$1($1,$
+'#&2$("&($10+10#2&(-2,$"&I#$+-0,1;#2&K'#$'#("&'$5-(#0(1&'L
0X-'C+6%/+"<"@+)0<-.$*6+%&-"8-;01$+)*<0$%-;"<<*$0#$&
]10# $ 5&2(1+='&(#, $ "&I# $ K##0 $ &,,-+1&(#; $ J1(" $ K-(" $ 2#,512&(-28 $ &0;
+&2;1-I&,+='&2$;1,#&,#>X$&0;$J1("$'=09$+&0+#2EbN>@L$$
EE
!J- $ '&29# $ +-"-2( $ ,(=;1#, $ 10 $ ("# $ _7D $ ,"-J#; $ 10+2#&,109 $ C-2(&'1(8 $ J1("$
10+2#&,109$'#I#',$-*$Q:>LG$5-''=(1-0L$/0$("#$71O$[1(8$7(=;8$5=K'1,"#;$10$EbbFEb$N$@NEEE$
10;1I1;=&',$J#2#$*-''-J#;$*-2$E3SEY$8#&2,$TEbX3SEbbEUN$10I-'I109$&$(-(&'$-*$EEEN?XY$
5#2,-0$8#&2,N$(-$#O&C10#$("#$#**#+($-*$&12$5-''=(1-0N$&''-J109$*-2$,C-P109$&0;$-("#2$
10;1I1;=&' $ *&+(-2,L $ $ D, $ #O5#+(#;N $ ("# $ 92#&(#,( $ 21,P $ *&+(-2 $ J&, $ ,C-P109 $ T&;M=,(#;$
C-2(&'1(8S2&(# $2&(1- $ ELGbU$ K=(N $ &*(#2 $&''-J109 $*-2 $10;1I1;=&' $ *&+(-2,N $C-2(&'1(8 $2&(#,$
,"-J#;$"19"'8$,1901*1+&0($&,,-+1&(1-0,$T5e?L??GU$J1("$("#$'#I#',$-*$*10#$5&2(1+'#,$&0;$
,='5"&(#$5&2(1+'#,$10$("#$+1(1#,N$J1("$("#$C-,($5-''=(#;$+1(8$91I109$&0$&;M=,(#;$&''S+&=,#$
C-2(&'1(8$2&(#$-*$EL>Y$+-C5&2#;$(-$("#$'#&,(L$!"1,$2#'&(#;$(-$&$Q: >LG$ ;1**#2#0+#$-*$
E@LYf9$5#2$+=K1+$C#(2#A$+&2;1-5='C-0&28$C-2(&'1(8$J&,$10+2#&,#;$K8$FXZ$&0;$'=09$
+&0+#2$C-2(&'1(8$J&,$&',-$FXZ$"19"#2L$
/0 $ ("# $ DC#21+&0 $ [&0+#2 $ 7-+1#(8 $ ,(=;8>?N $ GG>NEF@ $ &;='(, $ T;2&J0 $ *2-C $ ("#$
[&0+#2$Q2#I#0(1-0$//$,(=;8U$J#2#$*-''-J#;$*2-C$Eb@>$(-$Eb@b$&0;$;#&(",$&0&'8,#;$
&9&10,($C#&0$+-0+#0(2&(1-0, $-*$,='5"&(#$&12$5-''=(1-0$10$Eb@?$&0;$("#$C#;1&0$*10#$
5&2(1+='&(#$+-0+#0(2&(1-0$*2-C$EbXbSEb@FN$K-("$-K(&10#;$*-2$#&+"$5&2(1+15&0(^,$&2#&$-*$
2#,1;#0+#$*2-C$)0I12-0C#0(&'$Q2-(#+(1-0$D9#0+8$T)QDU$;&(&L$ $D9&10N$("#$,(2-09#,($
+-22#'&(1-0$J&,$K#(J##0$'=09$+&0+#2$&0;$,C-P109$T&;M=,(#;$C-2(&'1(8$21,P$2&(1-$bLXFUN$
K=( $ K-(" $ 5-''=(1-0 $ C#&,=2#, $ ,"-J#; $ "19"'8 $ ,1901*1+&0( $ &,,-+1&(1-0 $ J1(" $ &''S+&=,#$
C-2(&'1(8$&0;$J1("$+&2;1-5='C-0&28$C-2(&'1(8A $,='5"&(#,$J#2#$&',-$&,,-+1&(#; $J1("$
'=09$+&0+#2L$$D*(#2$&;M=,(109$*-2$,C-P109$&0;$-("#2$I&21&K'#,N$"19"#2$*10#$5&2(1+='&(#$
5-''=(1-0 $ J&, $ &,,-+1&(#; $ J1(" $ & $ EXZ $ 10+2#&,# $ 10 $ &''S+&=,# $ C-2(&'1(8 $ &0; $ & $ FEZ$
10+2#&,#$10$+&2;1-5='C-0&28$C-2(&'1(8$*-2$&$>3LG$f9$5#2$+=K1+$C#(2#$;1**#2#0+#$10$
Q:>LG,L$$!"#,#$2#,='(,$&2#$"19"'8$,1901*1+&0($&0;$'#;$("#$)QD$(-$5'&+#$2#9='&(-28$'1C1(,$
-0$Q:>LG,N$#,(&K'1,"109$("#$R&(1-0&'$DCK1#0($D12$g=&'1(8$7(&0;&2;,$10$EbbXL$!"#,#$
2#9='&(1-0,$J#2#$+"&''#09#;$K8$10;=,(28$K=($='(1C&(#'8$=5"#';$K8$("#$_7$7=52#C#$
[-=2(>b$ &*(#2 $ ("# $ ;&(& $ *2-C $ &'' $ ("# $ ,(=;1#, $ "&; $ K##0 $ ,=KM#+(#; $ (- $ 10(#0,# $ ,+2=(108$
10+'=;109$&0$#O(#0,1I#$10;#5#0;#0($&=;1($&0;$&$2#S&0&'8,1,$-*$("#$-21910&'$;&(&F?L$
!"#$"#&'("$K#0#*1(,$-*$K2109109$10$("#,#$0#J$2#9='&(1-0,$"&I#$K##0$#,(1C&(#;$
&,$hF>$K1''1-0$&00=&''8FE$K&,#;$-0$C-2(&'1(8$&0;$+"2-01+$&0;$&+=(#$"#&'("$#**#+(,N$&0;$
&$."1(#$%-=,#$2#5-2($*2-C$("#$\**1+#$-*$:&0&9#C#0($&0;$6=;9#($10$7#5(#CK#2$>??F$
+&'+='&(#;$("#$K#0#*1(,$10$(#2C,$-*$2#;=+(1-0,$10$"-,51(&'1W&(1-0,N$52#C&(=2#$;#&(",$&0;$
'-,($J-2P109$;&8,$&,$K#(J##0$hE>?$&0;$hEbF$K1''1-0$-I#2$("#$'&,($E?$8#&2,$T,##$,#+(1-0$
bLEUL$D,$("1,$,(=;8$'--P#;$&($-0'8$("2##$"#&'("$10;1+&(-2,$1($1,$'1P#'8$(-$=0;#2#,(1C&(#$
("#$(2=#$K#0#*1(,L
/($*-''-J,$*2-C$("1,$;&(&$("&($10+10#2&(-2,$&0;$&''$-("#2$C&M-2$,-=2+#,$-*$Q: >LG$
5&2(1+='&(#,$J1''$9#0#2&(#$,=K,(&0(1&'$"#&'("$+-,(,$&,$J#''$&,$10+2#&,109$C-2(&'1(8L
:X-Z*1$9%1-.$*6+%&D0$&0&'8,1,$5=K'1,"#;$10$>??>$-*$("#$[&0+#2$Q2#I#0(1-0$//$,(=;8$5&2(1+15&0(,$
'10P#;$("#$10;1I1;=&'$*&+(-2,N$5-''=(1-0$#O5-,=2#,$&0;$C-2(&'1(8$;&(&$*-2$&552-O1C&(#'8$
G??N???$&;='(,$&,$2#5-2(#;$10$("#$D[7$,(=;8$&K-I#N$K2109109$("#$*-''-JS=5$(-$Ebb@$ >@L$
!"#$2#5-2($;-=K'#;$("#$*-''-JS=5$5#21-;$&0;$2#5-2(#;$(215'#$("#$0=CK#2$-*$;#&(",N$&$
J1;#2 $ 2&09# $ -* $ 10;1I1;=&' $ *&+(-2, $ &0; $ C-2# $ 5-''=(1-0 $ ;&(&N $ +-0+#0(2&(109 $ -0 $ *10#$
5&2(1+'#,L$7C-P109$2#C&10#;$("#$,(2-09#,($*&+(-2$&,,-+1&(#;$J1("$C-2(&'1(8N$K=($*10#$
5&2(1+='&(# $ 5-''=(1-0 $ 2#C&10#; $ ,1901*1+&0('8 $ &,,-+1&(#; $ J1(" $ &''S+&=,#N $ &0;$
+&2;1-5='C-0&28$C-2(&'1(8$J1("$&I#2&9#$&;M=,(#;$44,$-*$EL?Y$&0;$EL?bL$$/0$&;;1(1-0N$
&*(#2$("#$'-09#2$*-''-JS=5$5#21-;N$*10#$5&2(1+='&(#,$J#2#$,1901*1+&0('8$&,,-+1&(#;$J1("$
'=09 $ +&0+#2 $ C-2(&'1(8 $ J1(" $ &0 $ &;M=,(#; $ 44 $ -* $ ELE3L $ $ !"# $ &=("-2, $ 2#5-2(#; $ ("&($
#O5-,=2#$(-$&$E?f9$5#2$+=K1+$C#(2#$"19"#2$'#I#'$-*$Q: >LG,$J&,$&,,-+1&(#;$J1("$&$E3Z$
10+2#&,#$10$'=09$+&0+#2$&0;$&$bZ$10+2#&,#$10$+&2;1-5='C-0&28$;1,#&,#>@L$
E>
)X--!016+",0&)*<01-J+&%0&%
4#,#&2+"#2, $ J#2# $ ,=2521,#; $ (- $ *10; $ ("&( $ ("# $ 10+2#&,#; $ +&2;1-5='C-0&28$
C-2(&'1(8$&,,-+1&(#;$J1("$5&2(1+='&(#$5-''=(1-0 $J&,$521C&21'8$;=#$(-$+&2;1-I&,+='&2$
;1,#&,#L$ $!"1,$J&,$*-=0;$10$K-("$("#$71O$[1(8$&0;$D[7$,(=;1#,$J"#0$("#8$J#2#$2#S
&0&'8,#;F?L$."#0$("#$+&=,#,$-*$;#&("$10$("#$[&0+#2$Q2#I#0(1-0$//$7(=;8$J#2#$'--P#;$&($
10$C-2#$;#(&1'F>$(-$'--P$*-2$+'=#,$(-$5-,,1K'#$5&("-5"8,1-'-91+&'$C#+"&01,C,N$("#$'10P$
J&,$,(2-09#,($J1("$1,+"&#C1+$"#&2($;1,#&,#A$&$E?f9$5#2$+=K1+$C#(2#$10+2#&,#$10$Q:>LG,$
J&,$&,,-+1&(#;$J1("$&0$E@Z$10+2#&,#$10$;#&(",$*2-C$1,+"&#C1+$"#&2($;1,#&,#$T>>Z$10$
0#I#2 $ ,C-P#2,UL $ D $ C-2# $ 2#+#0( $ 52-,5#+(1I# $ ,(=;8N $ ("# $ .-C#0^, $ %#&'(" $ /01(1&(1I#$
T.%/UN $ *-''-J#; $ YGN@bF $ 5-,(C#0-5&=,&' $ J-C#0 $ T101(1&''8 $ *2## $ -* $ +&2;1-I&,+='&2$
;1,#&,#U$-I#2$Y$8#&2,N$(-$#O&C10#$("#$#**#+(,$-*$("#$*10#$5&2(1+='&(#$5-''=(1-0$10$("#$
0#19"K-=2"--; $ -* $ #&+" $ 5&2(1+15&0( $ -0 $ ("# $ *12,( $ +&2;1-I&,+='&2 $ -2 $ +#2#K2-I&,+='&2$
10+1;#0($&0;$-0$C-2(&'1(8L$ $!"#$2#,='(,$*-2$C-2(&'1(8$&0;$C-2K1;1(8$J#2#$+-0,1,(#0(L$
)&+"$10+2#&,#$-*$E?f9$5#2$+=K1+$C#(2#$10$*10#$5&2(1+='&(#$5-''=(1-0$J&,$&,,-+1&(#;$
J1("$&$XYZ$10+2#&,#$10$;#&(",$*2-C$+&2;1-I&,+='&2$;1,#&,#$&0;$&0$@FZ$10+2#&,#$10$
;#&(",$*2-C$+#2#K2-I&,+='&2$;1,#&,#FFL$!"#$#**#+($J&,$10;#5#0;#0($-*$-("#2$I&21&K'#,$
K=($-K#,#$J-C#0$&0;$("-,#$J"-$,5#0($C-2#$(1C#$-=(;--2,$J#2#$C-2#$I='0#2&K'#$(-$
("# $ #**#+(L $ $ !"# $ .%/ $ 10I-'I#; $ & $ C-2# $"-C-9#0#-=, $ ,(=;8$ 5-5='&(1-0 $ &0; $"&; $&$
0=CK#2 $ -* $ -("#2 $ C#("-;-'-91+&' $ &;I&0(&9#, $ -I#2 $ ("# $ #&2'1#2 $ ,(=;1#,N $ 2#,='(109 $ 10$
92#&(#2$,#0,1(1I1(8N$&0;$C-2#$2#'1&K'#$#,(1C&(#,L$%-J#I#2N$5&2($-*$("#$92#&(#2$#**#+($10$
("1,$,(=;8$C&8$K#$;=#$(-$9#0;#2A$("#2#$"&,$K##0$,-C#$#I1;#0+#$10$-("#2$,(=;1#,$("&($
J-C#0$&2#$C-2#$,=,+#5(1K'#$(-$("#$+&2;1-I&,+='&2$#**#+(,$-*$*10#$5&2(1+='&(#, $("&0$
C#0L
$ !"#,#$2#,='(,$1C5'8$("&($("#$10+2#&,#$10$*10#$5&2(1+='&(#$5-''=(1-0$&,,-+1&(#;$
J1("$'&29#2$10+10#2&(-2,$+&0$K#$#O5#+(#;$(-$10+2#&,#$C-2(&'1(8L$$/($1,$52-K&K'8$,&*#$(-$
#O(2&5-'&(# $*2-C $ ("# $.%/ $ &,,=C109 $("&( $("# $ #**#+( $ -0$ C-2(&'1(8 $ 10 $("# $ .%/$ J&,$
9#0=10#$*-2$J-C#0N$&0;$("&($("#$21,P$(-$C#0$J-=';$K#$"&'*$&,$92#&(L$/0$("&($+&,#N$1*$("#$
10+10#2&(-2 $ 10+2#&,#; $ Q:>LG $5&2(1+='&(#, $ K8 $ &, $ '1(('# $ &, $ Ef9 $ 5#2 $ +=K1+ $ C#(2#N$
+&2;1-I&,+='&2 $ C-2(&'1(8 $ J-='; $ K# $ 10+2#&,#; $ K8 $ GSE?ZN $ J1(" $ ,1C1'&2'8 $ 10+2#&,#;$
+#2#K2-I&,+='&2$C-2(&'1(8L
D+=(#$C8-+&2;1&'$10*&2+(1-0,$"&I#$K##0$*-=0;$(-$21,#$;=2109$#51,-;#,$-*$"19"$
5&2(1+='&(#$5-''=(1-0N$;-=K'109$J"#0$'#I#',$-*$Q:>LG,$J#2#$>?S>Gf9$5#2$+=K1+$C#(2#$
"19"#2F3L$Q&2(1+='&(#,$&',-$10+2#&,#;$C-2(&'1(8$*2-C$,(2-P#FGNFYL$\0#$,(=;8$+-0+'=;#;$
("&( $ EEZ $ -* $ ,(2-P#, $ +-='; $ K# $ &((21K=(#; $ (- $ -=(;--2 $ &12 $ 5-''=(1-0 FXL $ )51,-;#, $ -*$
10+2#&,#; $ 5&2(1+='&(# $ 5-''=(1-0 $ &',- $ 10+2#&,#; $ &;C1,,1-0, $ J1(" $ "#&2( $ ;1,#&,#F@L $ $ D$
2#+#0( $ ,(=;8 $ *-=0; $ ("&( $ #&+" $ E?f9 $ 5#2 $ +=K1+ $ C#(2# $ 21,# $ 10 $ Q:E? $5&2(1+='&(#, $ J&,$
&,,-+1&(#; $ J1(" $ & $ X?Z $ 10+2#&,# $ 10 $ Bd! $ 21,PLFb$ :-2(&'1(8 $ *2-C $ ;1&K#(#,>X$ &0;$
&;C1,,1-0,$*-2$;1&K#(1+$"#&2($;1,#&,#$&2#$&',-$10+2#&,#;3?$ &0;$("#,#$J#2#$;-=K'#$("#$
0-0S;1&K#(1+$[%B$&;C1,,1-0,N$,=99#,(109$("&($;1&K#(1+,$J#2#$5&2(1+='&2'8$I='0#2&K'#$
(- $ ("# $ #**#+( $ -* $ 5&2(1+='&(# $ 5-''=(1-03?L $ $ %19"#2 $ '#I#', $ -* $ 5&2(1+='&(#, $ "&I# $ K##0$
&,,-+1&(#; $ J1(" $ '1*#S("2#&(#0109 $ &22"8("C1&,3E$ #O#2+1,#S10;=+#; $ 1,+"&#C1&3>N $ #O+#,,$
C-2(&'1(8$*2-C$"#&2($*&1'=2#FYN3F$&0;$("2-CK-(1+$;1,#&,#FYL$
6X--'88%)$-"#-!9+<61%#-0#6-$9%-Z"%$*&
Q&2(1+='&(#, $ +&228 $ I&21-=, $ +"#C1+&', $ 10+'=;109 $ 5-'8+8+'1+ $ &2-C&(1+$
"8;2-+&2K-0, $ TQD%,U $ 10(- $ ("# $ "=C&0 $ K-;8L $ ]2#;#21+& $ Q#2#2& $ *2-C $ ("# $ [-'=CK1&$
[#0(#2$*-2$["1';2#0^, $)0I12-0C#0(&'$%#&'("$"&,$*-=0;$("&($("#$*-#(=,$1,$E?$(1C#,$
EF
C-2# $ I='0#2&K'# $ (- $ ;&C&9# $ K8 $ ("#,# $ ,=K,(&0+#,33L $ 7"# $ &',- $ *-=0; $ ("&( $ Q:>LG$
5&2(1+='&(#, $ "&I# $ &0 $ &;I#2,# $ #**#+( $ -0 $ ("# $ ;#I#'-5109 $ *-#(=, $ J1(" $ ,1901*1+&0($
2#;=+(1-0,$10$J#19"(N$'#09("$&0;$"#&;$+12+=C*#2#0+#$&0;$2#1(#2&(#;$("#$1C5-2(&0+#$-*$
2#;=+109$ &CK1#0($ *10#$5&2(1+='&(#$+-0+#0(2&(1-0,3GL$/0$&;;1(1-0$*=2("#2$,(=;1#,$"&I#$
,"-J0$&0$&;I#2,#$ #**#+( $ -0$ *-#(&' $;#I#'-5C#0( $&( $'#I#', $+=22#0('8 $*-=0; $10 $+1(1#,$
(-;&8N$,=+"$&,$R#J$i-2P3YL$D12$5-''=(1-0$"&,$K##0$*-=0;$(-$+&=,#$122#I#2,1K'#$9#0#(1+$
C=(&(1-0,$10$C1+#L$4#,#&2+"#2,$*-=0;N$10$+-0(2&,(N$("&($1*$C1+#$K2#&("#;$&12$J"1+"$"&;$
K##0 $ *2##; $ -* $ 5&2(1+='&(#, $ K8 $ *1'(2&(1-0 $ ("#8 $ ;#I#'-5#; $ -0'8 $ K&+P92-=0; $ '#I#', $ -*$
9#0#(1+ $ C=(&(1-0,N $ +-0*12C109 $ ("&( $ 5&2(1+='&(#, $ J#2# $ +&=,&(1I#3XL $ D( $ ("# $ *-=2("$
:101,(#21&' $ [-0*#2#0+# $ -* $ )0I12-0C#0( $ &0; $ %#&'(" $ 10 $ <=0# $ >??3N $ ("# $ .%\$
&00-=0+#;$("&($K#(J##0$EL@$&0;$YL3Z$-*$;#&(",$10$("#$&9#$92-=5$*2-C$?$(-$3$+-=';$K#$
&((21K=(#;$(-$&12$5-''=(1-03@L$
%X--S)*$%-L%&C+10$"12-5#)+6%#$&
)'#I&(#;$5&2(1+='&(#$&12$5-''=(1-0$"&,$K##0$&,,-+1&(#;$J1("$10+2#&,#;$"-,51(&'$
&;C1,,1-0,$J1("$&,("C&>3$ &0;$J1("$[\QB3bN$10+2#&,#,$10$2#,512&(-28$,8C5(-C,G?NGEN$
"19"#2 $ 10+1;#0+# $ -*$ &,("C&G>N $ 2#;=+#; $ 1CC=01(8GFNG3N $ "19"#2 $ 2&(#, $ -*$ #&2N $ 0-,# $ &0;$
("2-&($10*#+(1-0G>N$'-,,$-*$(1C#$*2-C$,+"--'$10$+"1';2#0$("2-=9"$2#,512&(-28$;1,#&,#GGNGYN$
&0;$;#+'10#,$-*$2#,512&(-28$*=0+(1-0GXSGbL$D$,&;$&,1;#$(-$("#$&K-I#$1,$("&($+"1';2#0$J"-$
;1;$C-2#$-=(;--2$,5-2($"&;$92#&(#2$;#+'10#,$10$2#,512&(-28$*=0+(1-0GbL$.#$&2#$;-109$&$
92#&( $ ;1,,#2I1+# $ (- $ -=2 $ +"1';2#0 $ 1* $ ("#8 $ +&00-( $ 5=2,=# $ "#&'("8 $ &+(1I1(1#, $ J1("-=($
;&C&9109$("#12$"#&'("L
$$
8X-H"1$0<+$2-81"/-;01$+)*<0$%-;"<<*$+"#$$
)51,-;#, $ -* $ 10+2#&,#; $ 5&2(1+='&(# $ 5-''=(1-0 $ "&I# $ K##0 $ &,,-+1&(#; $ J1("$
10+2#&,#;$+&2;1-I&,+='&2$C-2(&'1(8EbN>?N>XN>@NFYN3FNY?$&0;$10+2#&,#;$2#,512&(-28$C-2(&'1(83FN33L$
DK-=($EG?$(1C#S,#21#,$,(=;1#,$&2-=0;$("#$J-2';$"&I#$,"-J0$(2&0,1#0($10+2#&,#,$10$
C-2(&'1(8$J1("$10+2#&,#,$10$5&2(1+='&(#,L$[-"-2($,(=;1#,$"&I#$,"-J0$&$'-09S(#2C$#**#+($
-0$C-2(&'1(8EbN>?N>@$T,##$,#+(1-0$FLE&UL
[&0 $ J# $ V=&0(1*8 $ ("1, $ C-2(&'1(8j $ /( $ "&, $ K##0 $ #,(1C&(#; $ ("&( $ ("# $ 10+2#&,#;$
C-2(&'1(8$J-2P,$-=($&,$&K-=($&$?LGSEZ$10+2#&,#$10$C-2(&'1(8$*-2$#&+"$E?f9$5#2$+=K1+$
C#(2#$21,#$10$Q:E?,YE$*-2$&+=(#$#O5-,=2#,$&0;$&$FLGZ$21,#$*-2$+"2-01+$#O5-,=2#,FEL$]-2$
Q:>LG, $ ("# $ 10+2#&,# $ 10 $ C-2(&'1(8 $ 1, $ C=+" $ 92#&(#2N $ #,5#+1&''8 $ *-2 $ +&2;1-5='C-0&28$
C-2(&'1(8$T,##$!&K'#UL$
$O0:<%-3--!016+"C*</"#012-H"1$0<+$2-0#6-Z+#%-;01$+)*<0$%-;"<<*$+"#
$$$-.$*62
L%8%1%#)%- ?"-"8]-^%01
;01$+)+C0#$&
-Z"<<"_-*C
S6`*&$%6%()%&&--)aC/"1$0<+$2
J+88%1%#)%- S6`*&$%6+#-Q:>LLG,$+#- %()%&&-)aCb@a/>/"1$0<+$2-8"11+&%-"8-3[b@a
/>
71O$[1(1#,$
Eb$
$$$$$@NEEE$
EbX3SEbbE
$$$$FXZ$$$
$$$$$E@LY$$
$$$EbL@Z
GG>NEF@
Eb@>SEb@b
$$$$FEZ$$
$$$$$>3LG$
$$$E>LXZ
$G??N???
Eb@>SEbb@
$$$$bZ$
$$$$$E?$$
$$$$$$bZ
EbbF
$D[7$
[&0+#2$
Q2#I#0(1-0$
//
[&0+#2$
Q2#I#0(1-0$
//&
>?$
EbbG
>@$
>??>
E3
.-C#0^$
%#&'("$
/01(1&(1I#
FF
YGN@bF
Ebb3S>??>
$$$$XYZ
$$$$$E?
$$$$$$XYZ
>??X
$$
."#0$("#$;&(&$*2-C$("#$71O$[1(1#,$7(=;8$&0;$("#$D[7$,(=;8$J#2#$,=KM#+($(-$
&=;1($&0;$2#S&0&'8,1,$T,##$,#+(1-0$FLE&U$("#$+&2;1-5='C-0&28$;#&(",$J#2#$,#5&2&(#;$
10(-$5='C-0&28$&0;$+&2;1-I&,+='&2F?L$_0#O5#+(#;'8$C-,($-*$("#$#O+#,,$;#&(",$;=#$(-$
5&2(1+='&(#,$"&;$K##0$*2-C$+&2;1-I&,+='&2$+&=,#,L$!"1,$J&,$&55&2#0($10$ #&+"$-*$("#$
&0&'8,#,$5#2*-2C#;$91I109$*19=2#,$*-2$("#$10+2#&,#$10$+&2;1-I&,+='&2$C-2(&'1(8$10$("#$
71O$[1(1#,$,(=;8$-*$K#(J##0$FGZ$&0;$33Z$*-2$&0$E@LY$f9$5#2$+=K1+$C#(2#$;1**#2#0+#$10$
Q:>LG, $&0;$10$("#$D[7$,(=;8$K#(J##0$FFZ$&0;$3XZ$*-2$&$>3LGf9$5#2$+=K1+$C#(2#L$
!"1,$J&,$C=+"$"19"#2$10$#&+"$+&,#$("&0$("#$10+2#&,#$10$2#,512&(-28$;#&(",$-*$XZL$$/0$
("#$D[7$;&(&$1($J&,$'&(#2$*-=0;$("&($("#$#O+#,,$+&2;1-I&,+='&2$;#&(",$J#2#$521C&21'8$
;=#$(-$&0$E@Z$10+2#&,#$10$;#&(",$*2-C$1,+"&#C1+$"#&2($;1,#&,#$*-2$#&+"$E?f9$5#2$
+=K1+$C#(2#$21,#$10$Q:>LG,F>L$$!"#$.-C#0^,$%#&'("$/01(1&(1I#$,(=;8$"&,$;#C-0,(2&(#;$
&0$#I#0$,(2-09#2$,(&(1,(1+&'$2#'&(1-0,"15$K#(J##0$2&1,#;$'#I#',$-*$*10#$5&2(1+='&(#,$&0;$
+&2;1-I&,+='&2$;#&(",$J1("$&$XYZ$10+2#&,#$10$+&2;1-I&,+='&2$C-2(&'1(8$*-2$#&+"$E?f9$
5#2$+=K1+$C#(2#$10+2#&,#$10$Q:>LG$ 5&2(1+='&(#,N$&0;$("1,$;#5#0;#;$0-($M=,($-0$J"1+"$
+1(8$&$J-C&0$'1I#;$10$K=($10$J"1+"$5&2($-*$("&($+1(8FFL$!"1,$,(=;8N$C-2#$("&0$&08$-("#2N$
;#C-0,(2&(#,$("#$92#&($;&09#2,$5-,#;$K8$*10#$5&2(1+='&(#,$&0;$("#$"19"'19"(,$("#$=29#0($
0##;$(-$2#C-I#$C&M-2$,-=2+#,$-*$("#,#$5-''=(&0(,L
$D,$10+10#2&(-2,$,#'#+(1I#'8$#C1($,C&''#2$5&2(1+='&(#,$&0;$+&=,#$&$92#&(#2$#**#+($
-0$'#I#',$-*$Q:>LG,$("&0$Q:E?,N$("#8$J-=';$("#2#*-2#$K#$#O5#+(#;$(-$"&I#$&$,1901*1+&0($
1C5&+($-0$+&2;1-5='C-0&28$C-2(&'1(8N$#,5#+1&''8$+&2;1-I&,+='&2$C-2(&'1(8L$ $!"1,$"&,$
0-($,-$*&2$K##0$,(=;1#;$;12#+('8L
@X-.$*6+%&-5#,"<,+#@-c<$108+#%-;01$+)<%&
_'(2&*10#$5&2(1+'#,$T?LEf9$5#2$+=K1+$C#(2#$&0;$K#'-JU$&2#$52-;=+#;$10$92#&($
0=CK#2, $ K8 $ 10+10#2&(-2,EL $ !"#8 $ "&I# $ K##0 $ '#,, $ ,(=;1#; $ ("&0 $ Q:>LG$ &0; $ Q:E?$
5&2(1+='&(#,$K=($("#2#$"&,$K##0$#0-=9"$;&(&$&I&1'&K'#$*-2$("#$.%\$(-$+-0+'=;#$("&($
("#8$ 52-;=+# $ "#&'(" $ #**#+(, $ 1CC#;1&(#'8N $ &*(#2 $ & $ (1C# $ '&9 $ &0; $ 10 $ &,,-+1&(1-0 $ J1("$
+=C='&(1I# $ #O5-,=2#L $ !"#8 $ "&I# $ K##0 $ *-=0; $ (- $ "&I# $ & $ C-2# $ C&2P#; $ #**#+( $ -0$
+&2;1-I&,+='&2$C-2(&'1(8$("&0$*10#$5&2(1+='&(#,N$J1("$&$(1C#$'&9$-*$3SG$;&8, Y>L$7(2-P#$
C-2(&'1(8 $ "&, $ K##0 $ 5-,1(1I#'8 $ &,,-+1&(#; $ J1(" $ +=22#0( $ &0; $ 52#I1-=, $ ;&8 $ '#I#', $ -*$
='(2&*10#$5&2(1+='&(#,$&0;$("1,$"&,$-++=22#;$10$&0$&2#&$-*$'-J$5-''=(1-0$,=99#,(109$("#2#$
C&8$K#$0-$("2#,"-';$*-2$("1,$#**#+(YFL$_'(2&*10#$5&2(1+='&(#,$"&I#$&',-$K##0$2#5-2(#;$(-$
K#$C-2#$5-(#0($("&0$-("#2$5&2(1+='&(#,$-0$&$5#2$C&,,$K&,1,$10$10;=+109$-O1;&(1I#$,(2#,,$
10$+#'',Y3$&0;$("#8$"&I#$("#$&K1'1(8$(-$+2-,,$("#$K'--;SK2&10$K&221#2$&0;$'-;9#$10$K2&10$
(1,,=#YGL $ !"#8 $ 2#52#,#0( $ &0-("#2 $ '&29#'8 $ =0P0-J0 $ &0; $ =0#O5'-2#; $ ;&09#2 $ -*$
10+10#2&(1-0L$
9X-S&&%&&/%#$-:2-$9%-T=B-0#6-B$9%1-S*$9"1+$+%&
6&,#;$-0$("#$.-2';$%#&'("$\29&01,&(1-0$D12$g=&'1(8$k=1;#'10#,YY$ J#$"&I#$
#,(1C&(#; $ ("&( $ & $ Ef9 $ 5#2 $ +=K1+ $ C#(2# $ 10+2#&,# $ 10 $ Q:>LLG$ 5&2(1+='&(#, $ T& $ I#28$
+-0,#2I&(1I#$#,(1C&(#$-*$("#$'#I#'$-*$10+2#&,#$("&($J-=';$K#$#O5#+(#;$&2-=0;$'&29#$
10+10#2&(-2,U$J-=';$'#&;$(-$&$2#;=+#;$'1*#$#O5#+(&0+8$-*$3?$;&8,$5#2$5#2,-0$-I#2$EG$
8#&2,$T("1,$#V=&',$&$2#;=+(1-0$-*$'1*#$#O5#+(&0+8$-*$ELE$8#&2,$*-2$#&+"$E?f9$5#2$+=K1+$
C#(2#$10+2#&,#$10$Q:>LG$5&2(1+='&(#,UL$D'("-=9"$("1,$*19=2#$&55#&2,$,C&''$("#8$0-(#$("&($
EG
("# $ 5=K'1+ $ "#&'(" $ 1C5'1+&(1-0, $ &2# $ '&29# $ &0; $ ("# $ #**#+( $ -0 $ & $ (851+&' $ 5-5='&(1-0 $ -*$
>G?N???$,=22-=0;109$&0$10+10#2&(-2$J-=';$K#$&$'-,,$-*$>XNG??$8#&2,$-*$'1*#$-I#2$&$EG$
8#&2$(1C#$5#21-;L$!"1,$*19=2#$91I#,$&0$10;1+&(1-0$-*$("#$'1P#'8$'-,,$-*$'1*#$*2-C$&08$
C&M-2$,-=2+#$-*$Q:>LG$5&2(1+='&(#,L$/0$&;;1(1-0N$10+10#2&(-2,$0-2C&''8$-5#2&(#$*-2$C=+"$
'-09#2$5#21-;,$("&0$("#$EG$8#&2,$V=-(#;$"#2#L$$R-(#$("&($("#$#,(1C&(#;$'-,,$-*$'1*#$"#2#$
1,$'1P#'8$(-$K#$&0$=0;#2#,(1C&(#$&,$1($1,$*2-C$5&2(1+='&(#,$&'-0#$&0;$0-($*2-C$-("#2$
(-O1+$,=K,(&0+#,L
!"# $ )=2-5#&0 $ 4#,512&(-28 $ 7-+1#(8YX$ "&, $ 5=K'1,"#; $ 1(, $ +-0+#20 $ &K-=( $ ("#$
C1,C&(+"$K#(J##0$)=2-5#&0$_01-0$5-'1+8$&0;$("#$K#,($,+1#0(1*1+$#I1;#0+#L$!"#8$,(&(#$
("&($&$2#;=+(1-0$10$("#$8#&2'8$&I#2&9#$Q:>LG$ 5&2(1+='&(#,$(-$EGf9$5#2$+=K1+$C#(2#$l$
J-=';$2#,='($10$'1*#$#O5#+(&0+8$9&10,N$&($&9#$F?N$-*$K#(J##0$E$C-0("$&0;$>$8#&2,L$
!"#8$5-10($-=($("&($("#$K#0#*1(,$-*$1C5'#C#0(109$,(2109#0($&12$5-''=(1-0$'#91,'&(1-0$
J-=';$-=(J#19"$("#$+-,(,L$$!"#,#$2#+-CC#0;&(1-0,$&2#$,#0,1K'#$&0;$K&,#;$-0$,-=0;$
,+1#0+#L $ D $ 52-92&CC# $ -* $ K=1';109 $ 10+10#2&(-2, $ J-='; $ =0*-2(=0&(#'8 $ &+"1#I# $ ("#$
-55-,1(#A$("#8$J-=';$10+2#&,#$5&2(1+='&(#$5-''=(1-0N$2#;=+#$'1*#$#O5#+(&0+8$&0;$J-=';$
K#$&($-;;,$J1("$("#$K#,($,+1#0+#L$
7(&(#C#0(,$K8$'#&;109$2#,#&2+"#2,$10+'=;#$("#$*-''-J109A$m01.&-64530,<.&*/&
01.&688*93603*5&'.07..5 &/35.&;62039+.8 &65<&-*206+30(&8,44.808&0160&9*502*++354 &/35. &
;62039+.8&7*,+<&2.8,+0&35&86)354&01*,865<8&*/&.62+(&<.6018&.691&(.62n$T7+"J&2(WUYE$
&0;$m01.2.&38&9*58380.50&.)3<.59.&0160&/35.&;62039,+60.8&62.&688*9360.<&7301&3592.68.< &
6++&96,8.=&962<369&65<&2.8;3260*2(&-*206+30(>&?1.8.&/35<3548&802.5401.5&01.&968.&/*2 &
9*502*++354&01.&+.).+8&*/&2.8;3260*2(&;62039,+60.8&35&*,0<**2&632n$Y?L
d-O9%-?0$+"#0<-S/:+%#$-S+1-e*0<+$2-.$0#6016-8"1-;H -74E- C01$+)*<0$%&-_0&-+#$1"6*)%6-+#$"-$9%c.S-+#-3YYG-_+$9-0-/%0#- 0##*0<-<+/+$-"8-3Eb@-C%1-)*:+)-/%$1%4 -O9+&-906-/%0&*10:<%-9%0<$9:%#%8+$&4-S#-0##*0<-/%0#-<+/+$-8"1-;H-74E -C01$+)*<0$%&-+&-$"-:%-+#$1"6*)%6-+#$"-.)"$<0#6-+#-7[3[0#6-$9+&-_+<<-:%-37b@-C%1-)*:+)-/%$1%4-S#-0##*0<-/%0#-$01@%$-8"1-;H - 74E -C01$+)*<0$%&-+&-$"-:%+#$1"6*)%6-+#$"-$9%-c\-+#-7[7[-0#6-$9+&-_+<<-:%-_+<<-:%- 7Eb@-C%1-)*:+)-/%$1%4-H0#2-_+<<-_"#6%1_92-$9%-6+88%1%#)%-+&-&"-,0&$-_9%#-$9%-&)+%#)%-+&-$9%-&0/%4
+X-.*//012
/0$,=CC&28$("#2#$1,$0-J$2-K=,($,+1#0(1*1+$#I1;#0+#$-0$("#$;&09#2,$(-$"#&'("$-*$
*10# $5&2(1+='&(#, $ &0;$ -*$ ("# $ ,=K,(&0(1&' $ "#&'(" $ +-,(, $ 10I-'I#;L $4#+#0( $ ,(=;1#, $ "&I#$
,"-J0$("#$21,P$(-$K#$+-0,1;#2&K'8$92#&(#2$("&0$52#I1-=,'8$("-=9"(4$]-2$("#,#$2#&,-0,$1($
1,$1C5-,,1K'#$(-$M=,(1*8$10+2#&,109$'#I#',$-*$("#,#$5&2(1+='&(#,$,(1''$*=2("#2$K8$K=1';109$
10+10#2&(-2,--2$&08$-("#2$C&M-2$,-=2+#$-*$Q:>LG$5&2(1+='&(#,L$!"#$;&(&$C&P#,$1($V=1(#$
+'#&2$("&($&((#C5(,$,"-=';$K#$C&;#$(-$("#$2#;=+#$'#I#',$-*$("#,#$5&2(1+='&(#,$J"#0#I#2$
5-,,1K'#L $ $ %-J#I#2 $ 5&2(1+='&(#, $ &2# $ 0-( $ ("# $ -0'8 $ 2#&,-0, $ (- $ K# $ +-0+#20#; $ &K-=($
10+10#2&(-2,L$!"#2#$&2#$-("#2$;&09#2,AS
>47---=%0,2-H%$0<&
$ $Q-5#$2#5-2(#;$("&($"-,51(&'$&;C1,,1-0,$-*$+"1';2#0$J1("$2#,512&(-28$;1,#&,#$
*#''$;2&C&(1+&''8$10$("#$_(&"$I&''#8$J"#0$&$,(##'$C1''$J&,$+'-,#;$*-2$&$8#&2$;=#$(-$&$
,(21P#L$D12$5-''=(1-0$&0&'8,1,$,"-J#;$("&($("#$C#(&'$+-0(#0($-*$5&2(1+='&(#,$J&,$'-J#2$
("&($8#&2$&0;$("&($("#$(85#$-*$10*'&CC&(1-0$*-=0;$10$("#$'=09,$J"1'#$("#$,(##'$C1''$J&,$
J-2P109$+-=';$K#$2#52-;=+#;$10$K-("$2&($&0;$"=C&0$'=09$(1,,=#$K8$=,109$&12$5-''=(&0(,$
-*$("#$(85#$#C1((#;$K8$("#$,(##'$C1''Y@NYbL$!"1,$1,$&$I#28$+'#&2$1''=,(2&(1-0$-*$("#$;&09#2,$
-*$5-''=(1-0$-*$("#$&12$J1("$"#&I8$C#(&',L$)O5-,=2#$(-$10"&'#;$C#(&',N$,1C1'&2$(-$("#$
(85#$52-;=+#;$K8$10+10#2&(-2,N$"&I#$K##0$,"-J0$(-$C#;1&(#$+&2;1-5='C-0&28$10M=28$10$
2&(,X?$&0;$,C&''$&C-=0(,$-*$C#(&'$TeEZU$10$5&2(1+='&(#,$&2#$P0-J0$(-$+&=,#$5='C-0&28$
(-O1+1(8XEL$7&'(,$-*$"#&I8$C#(&',$,=+"$&,$12-0$&0;$+-55#2$&+($&,$+&(&'8,(,$*-2$;1-O10$
EY
*-2C&(1-0 $ +&=,109 $ 2&51; $ 2&(#, $ -* $ ;1-O10 $ *-2C&(1-0 X>$ 10+2#&,109 $ ("# $ ;&09#2, $ *2-C$
K=20109$C#(&',L
/0+10#2&(-2 $ #C1,,1-0, $ (- $ &12 $ &0; $ &," $ +-0(&10 $ -I#2 $ FG $ C#(&',XFL $ 7#I#2&' $ &2#$
P0-J0$-2$,=,5#+(#;$+&2+10-9#0,L$!-O1+$C#(&',$&++=C='&(#$10$("#$K-;8$J1("$10+2#&,109$
&9#X3L$62#&("109$10$&12$+-0(&10109$(-O1+$C#(&',$'#&;,$(-$K1-&++=C='&(1-0$10$("#$"=C&0$
K-;8L $ !"#8 $ +&0 $ 2#C&10 $ 10 $ ("# $ K-;8 $ *-2 $ 8#&2,A $ +&;C1=C $ "&, $ & $ F? $ 8#&2 $ "&'*S'1*#L$
/0+10#2&(1-0$&;;,$(-$("#$K=2;#0$-*$(-O1+$C#(&',$&0;$+&0$'#&;$(-$*=2("#2$;&C&9#$(-$
"#&'("L
:#2+=28$1,$&$9&,$&($10+10#2&(1-0$(#C5#2&(=2#,$&0;$+&00-($K#$2#C-I#;$K8$("#$
*1'(#2,L$/0+10#2&(-2,$"&I#$K##0$&$C&M-2$,-=2+#$-*$C#2+=28$2#'#&,#$10(-$("#$#0I12-0C#0(L$
/0$("#-28$C#2+=28$+&0$K#$2#C-I#;$=,109$&+(1I&(#;$+&2K-0$K=($10$52&+(1+#$1($1,$;1**1+='($
(- $ +-0(2-' $ &0;N $ #I#0 $ J"#0 $ #**#+(1I#N $ ("# $ C#2+=28 $ #0;, $ =5 $ 10 $ ("# $ *'8 $ &," $ (- $ K#$
'&0;*1''#;L$:#2+=28$1,$-0#$-*$("#$C-,($;&09#2-=,$"#&I8$C#(&',L$/($1,$0#=2-(-O1+$&0;$
"&, $ K##0 $ 1C5'1+&(#; $ 10 $ D'W"#1C#2^, $ ;1,#&,#XGSXXN $ '#&20109 $ ;1,&K1'1(1#, $ &0;$
"85#2&+(1I1(8X@NXbL$4#+#0($,(=;1#,$"&I#$*-=0;$&$,1901*1+&0($10+2#&,#$10$K-("$&=(1,C$&0;$
10$2&(#,$-*$,5#+1&'$#;=+&(1-0$,(=;#0(,$ &2-=0;$,1(#,$J"#2#$C#2+=28$1,$2#'#&,#;$10(-$("#$
#0I12-0C#0(@?N@EL
$ /0"&'&(1-0$-*$"#&I8$C#(&',$,=+"$&,$01+P#'N$K#28''1=CN$+"2-C1=CN$+&;C1=C$
&0;$&2,#01+-10+2#&,#,$("#$21,P$-*$'=09$+&0+#2E>4$$[=C='&(1I#$#O5-,=2#$(-$+&;C1=C$"&,$
K##0 $ +-22#'&(#; $ J1(" $ '=09 $ +&0+#2@>L $ 7=55-2(1I# $ #I1;#0+# $ +-C#, $ *2-C $ 6'-( $ &0;$
]2&=C#01 $ J"- $ *-=0; $ &0 $ #O+#,, $ -* $ '=09 $ +&0+#2 $ 10 $ _7 $ +-=0(1#, $ J"#2# $ ("#2# $ J&,$
,C#'(109$&0;$2#*10109$-*$0-0S*#22-=,$C#(&',@FL$/0"&'#;$+&;C1=C$&',-$+-22#'&(#,$J1("$
1,+"&#C1+$"#&2($;1,#&,#@3L
7-$J"&($&2#$("#$;&09#2,$+&=,#;$K8$(-O1+$C#(&',$&++=C='&(109$10$("#$K-;8j$
!"#8 $ "&I# $ K##0 $ 1C5'1+&(#; $ 10 $ & $ 2&09# $ -* $ #C-(1-0&' $ &0; $ K#"&I1-=2&' $ 52-K'#C, $ 10$
+"1';2#0 $ 10+'=;109 $ &=(1,C@GN $ ;8,'#O1&@YN $ 1C5=',1I# $ K#"&I1-=2@X$ &((#0(1-0 $ ;#*1+1( $ &0;$
"85#2&+(1I1(8 $ ;1,-2;#2 $ TDB%BU@@N@b$ &, $ J#'' $ &, $ '#&20109 $ ;1**1+='(1#,E3NX@Nb?SbFN $ '-J#2#;$
10(#''19#0+#@b$ &0; $ ;#'10V=#0+8b3N@bN $ &'("-=9" $ 0-( $ #I#28 $ ,(=;8 $ 2#&+"#; $ ,(&0;&2;$
,1901*1+&0+#$'#I#',L$:&08$-*$("#,#$52-K'#C,$J#2#$0-(#;$10$("#$,(=;8$-*$("#$5-5='&(1-0$
2-=0; $ ("# $ 710( $ R1P'&&, $ 10+10#2&(-2bGL $ )O5-,#; $ &;='(, $ "&I# $ &',- $ K##0 $ ,"-J0 $ (- $ K#$
&**#+(#;N $ ,"-J109 $ "19"#2 $ '#I#', $ -* $ I1-'#0+#EFNbYN $ ;#C#0(1&bXSE?F$ &0; $ ;#52#,,1-0 $ ("&0$
0-0S#O5-,#; $ 10;1I1;=&',L $ %#&I8 $ C#(&' $ (-O1+1(8 $ "&, $ &',- $ K##0 $ 1C5'1+&(#; $ 10$
Q&2P10,-0^,$;1,#&,#E?3L
$ %#&I8$ C#(&', $ #C1((#; $ *2-C $ 10+10#2&(-2, $&2# $ =,=&''8 $C-01(-2#; $ &( $F $(- $E>$
C-0("'8 $ 10(#2I&', $ 10 $ ("# $ ,(&+PA $ ("1, $ 1, $ +'#&2'8 $ 10&;#V=&(# $ *-2 $ ,=K,(&0+#, $ J1(" $ ("1,$
;#92##$-*$(-O1+1(8L
$
>4>---?+$1"@%#-B(+6%&-0#6-BD"#%
R1(2-9#0$;1-O1;#$1,$&0-("#2$5-''=(&0($52-;=+#;$K8$10+10#2&(-2,L$/($"&,$+&=,#;$&$
I&21#(8$-*$#**#+(,N$521C&21'8$-0$("#$'=09$K=($&',-$-0$("#$,5'##0N$'1I#2$&0;$K'--;$10$
&01C&'$,(=;1#,L$6-("$2#I#2,1K'#$&0;$122#I#2,1K'#$#**#+(,$-0$("#$'=09$"&I#$K##0$0-(#;L$
["1';2#0$K#(J##0$("#$&9#,$-*$G$&0;$E>$8#&2,$"&I#$K##0$#,(1C&(#;$(-$"&I#$&$>?Z$
10+2#&,#$10$2#,512&(-28$,8C5(-C,$*-2$#&+"$>@$f9$5#2$+=K1+$C#(2#$10+2#&,#$10$01(2-9#0$
;1-O1;#L$7(=;1#,$10$<&5&0$,"-J#;$&$"19"#2$10+1;#0+#$-*$&,("C&$J1("$10+2#&,109$R\ >$
'#I#',$&0;$("&($1($,80#291,(1+&''8$10+2#&,#,$'=09$+&0+#2$C-2(&'1(8$2&(#,3EL$ $/($"&,$&',-$
K##0 $ 2#5-2(#; $ (- $ &1; $ ("# $ ,52#&; $ -* $ (=C-=2,E?GNE?YL $ /0+2#&,#, $ 10 $ R\>$ "&I# $ K##0$
&,,-+1&(#;$J1("$21,#,$10$&;C1,,1-0,$J1("$[\QBE?XN$&,("C&$10$+"1';2#0$&0;$10$"#&2($
;1,#&,#$10$("-,#$-I#2$YGE@L$\("#2$,(=;1#,$"&I#$,"-J0$10+2#&,#,$10$&,("C&$&;C1,,1-0,E?@$
&0;$10+2#&,#;$C-2(&'1(8$J1("$21,109$R\>$'#I#',E?bL$
EX
41,109$-W-0#$'#I#',$"&I#$'#;$(-$10+2#&,109$"-,51(&'$&;C1,,1-0,N$&,("C&$&0;$
2#,512&(-28$10*'&CC&(1-0$&0;$"&I#$K##0$2#5-2(#;$(-$'-J#2$1CC=01(8EE?L$%19"#2$'#I#',$
"&I#$K##0$,1901*1+&0('8$&,,-+1&(#;$J1("$10+2#&,#;$C-2(&'1(8EEE$&0;$J1("$+&2;1-I&,+='&2$
;1,#&,#L$6-("$-W-0#$&0;$01(2-9#0$;1-O1;#$&2#$&,,-+1&(#;$J1("$10+2#&,109$&;C1,,1-0,$
J1("$[\QBE?XL$
."#0$1($+-C#,$(-$10+10#2&(-2$#C1,,1-0,$("#$"#&'("$#**#+(,$-*$01(2-=,$-O1;#,$&2#$
'1P#'8$(-$+-C5-=0;$("#$0#9&(1I#$"#&'("$#**#+(,$-*$5&2(1+='&(#,
>4A---B1@0#+)-O"(+)0#$&
%=0;2#;,$-*$+"#C1+&'$+-C5-=0;,$&2#$2#'#&,#;$*2-C$10+10#2&(-2,L$!"#8$10+'=;#$
&$"-,($-*$+"#C1+&',$52-;=+#;$*2-C$("#$K=20109$-*$5'&,(1+$&0;$,1C1'&2$,=K,(&0+#,$&0;$
10+'=;# $ 5-'8+8+'1+ $ &2-C&(1+ $ "8;2-+&2K-0, $ TQD%,UN $ K2-C10&(#; $ *'&C# $ 2#(&2;&0(,N$
5-'8+"'-210&(#; $K15"#0-', $TQ[6,UN$;1-O10,N $5-'8+"'-210&(#; $;1K#0W-*=2&0, $T*=2&0,UL$
!"#,#$,=K,(&0+#,$&2#$'15-5"1'1+$&0;$&++=C='&(#$10$*&((8$(1,,=#$&0;$2#C&10$&+(1I#$10$("#$
'1I109$-29&01,C,$&0;$("#$#0I12-0C#0($*-2$C&08$8#&2,L$!"#8$"&I#$K##0$'10P#;$J1("$
#&2'8 $ 5=K#2(8EE>N $ #0;-C#(21-,1,EEFN $ K2#&,( $ +&0+#2EE3NEEGN $ 2#;=+#; $ ,5#2C $ +-=0(,EEY$ &0;$
-("#2 $ ;1,-2;#2, $ -* $ C&'# $ 2#52-;=+(1I# $ (1,,=#,EEXN $ (#,(1+='&2 $ +&0+#2EE@$ &0; $ ("82-1;$
;1,2=5(1-0EEL $ $ /( $ "&, $ K##0 $ +'&1C#; $ ("&( $ &K-=( $ E?Z $ -* $ C&0SC&;#$ +"#C1+&', $ &2#$
+&2+10-9#01+$T,##$,#+(1-0$GLEUN$&0;$C&08$&2#$0-J$2#+-901,#;$&,$#0;-+210#$;1,2=5(#2,L$
:-,($-*$("#,#$"#&'("$#**#+(,$J#2#$0-($&0(1+15&(#;$&0;$&2#$-0'8$0-J$K#109$2#+-901,#;L$
R-$,&*#(8$;&(&$#O1,($-0$C&08$-*$("#$+-C5-=0;,$2#'#&,#;$K8$10+10#2&(-2,L
QD%,$&2#$&0$#O&C5'#$-*$-29&01+$(-O1+&0(,L$D'("-=9"$#C1,,1-0$'#I#',$&2#$,C&''$
("#,#$,=K,(&0+#,$&2#$(-O1+$&($5&2(,$5#2$K1''1-0$-2$#I#0$5&2(,$5#2$(21''1-0XF$&,$-55-,#;$(-$
5&2(,$5#2$C1''1-0$*-2$C&08$-("#2$5-''=(&0(,L$!"#8$+&0$+&=,#$+&0+#2N$1CC=0#$+"&09#,N$
'=09 $ &0; $ '1I#2 $ ;&C&9#N $ 2#(&2;#; $ +-901(1I# $ &0; $ C-(-2 $ ;#I#'-5C#0(N $ '-J#2#; $ K12("$
J#19"($&0;$'-J#2#;$92-J("$2&(#XFL$
-0X--B1@0#")9<"1+#%&
!"# $ C-,( $ ;#(&1'#; $ &0&'8,1, $ (- $ ;&(# $ -0 $ 10+10#2&(-2 $ #C1,,1-0, $ "&, $ 1;#0(1*1#;$
,#I#2&' $ "=0;2#; $ 52-;=+(, $ -* $ 10+-C5'#(# $ +-CK=,(1-0 $ TQ/[,U $ 10+'=;109 $ F@$
-29&0-+"'-210#, $ a $ K=( $ G@Z $ -* $ ("# $ (-(&' $ C&,, $ -* $ Q/[, $ 2#C&10#; $ =01;#0(1*1#; EEbL$
\29&0-+"'-210#,N$J"1+"$10+'=;#$;1-O10,N$*=2&0,$&0;$Q[6,N$;#,#2I#$,5#+1&'$&((#0(1-0N$
K#+&=,# $ -* $ ("#12 $ P0-J0 $ (-O1+1(8N $ K#+&=,# $ ("#8 $ K1-&++=C='&(#N $ &0; $ K#+&=,# $ -*$ ("#$
'1P#'1"--;$("&($("#8$J1''$10+2#&,#$10$("#$J&,(#$,(2#&CL$!"#12$C&M-2$52#+=2,-2N$Qd[N$
52#,#0('8$C&P#,$=5$@?Z$-*$-29&01+&''8$K-=0;$+"'-210#$&0;$("#$&C-=0($-*$Qd[$10$
J&,(#$1,$'1P#'8$(-$10+2#&,#$,1901*1+&0('8$10$("#$*=(=2#E>?L$$['#&2'8$-29&0-+"'-210#,$J1''$
K#$&0$1C5-2(&0($+-C5-0#0($-*$10+10#2&(-2$#C1,,1-0,L$
\29&0-+"'-210#, $&,$&$92-=5$&2#$&,,-+1&(#;$J1("$,1O$;1,(10+($(85#, $-*$"#&'("$
1C5&+( $ &0; $ ("#,# $ -*(#0 $ -++=2 $ &( $ '-J $ +-0+#0(2&(1-0,L $ !"#8 $ &2# $ &,,-+1&(#; $ J1(" $ EU$
2#52-;=+(1I#$1C5&12C#0($10$C&'#,$&0;$*#C&'#,$>U$;#I#'-5C#0(&'$;&C&9#$FU$1C5&12#;$
+-901(1I#$&K1'1(8$&0;$K#"&I1-=2$3U$0#=2-'-91+&'$;&C&9#$GU$,=552#,,#;$1CC=01(8$&0;$
YU$"-2C-0&' $;1,2=5(1-0 $ &0;$"-2C-0&' $+&0+#2,L $)&+" $-*$("#,#$,1O $#**#+(, $"&, $K##0$
;#C-0,(2&(#; $ 10 $ ("2## $ ,#5&2&(# $ *1#';,A $ 10 $ "=C&0,N $ 10 $ '&K-2&(-28 $ &01C&', $ &0; $ 10$
J1';'1*#E>EL$!"#$DC#21+&0$Q=K1+$%#&'("$D,,-+1&(1-0$TDQ%DU$+-0+'=;#;$mI12(=&''8$&''$
-29&0-+"'-210#,$("&($"&I#$K##0$,(=;1#;$#O"1K1($&($'#&,($-0#$-*$&$2&09#$-*$,#21-=,$(-O1+$
#**#+(,N $ ,=+" $ &, $ #0;-+210# $ ;1,2=5(1-0N $ ;#I#'-5C#0(&' $ 1C5&12C#0(N $ K12(" $ ;#*#+(,N$
2#52-;=+(1I# $ ;8,*=0+(1-0 $ &0; $ 10*#2(1'1(8N $ 1CC=0-,=552#,,1-0 $ &0; $ +&0+#2N $ -*(#0 $ &($
#O(2#C#'8$'-J$;-,#,nE>>L$\("#2$-29&0-"&'-9#0,$,=+"$&,$K2-C1;#,$&0;$*'=-21;#,$"&I#$
C&08$,1C1'&2$52-5#2(1#,L
E@
D$+-CC-0$C1,+-0+#5(1-0$1,$("&($("#,#$5-''=(&0(,$"&I#$'1(('#$#**#+($1*$;1,5#2,#;$
10(-$("#$#0I12-0C#0(L$!"1,$1,$J2-09$*-2$,#I#2&'$2#&,-0,L$]12,('8$("#8$&2#$5#2,1,(#0($&,$
("#2# $ 1, $ 0- $ C#+"&01,C $ 10 $ ("# $ #0I12-0C#0( $ (- $ K2#&P $ ("#C $ ;-J0 $ &0; $ ,- $ ("#8$
&++=C='&(#L$7#+-0;'8$&,$("#8$&2#$*&($,-'=K'#$("#8$+-0+#0(2&(#$10$'1I109$C&((#2N$-*(#0$
;2&C&(1+&''8N$&($52-92#,,1I#'8$"19"#2$+-0+#0(2&(1-0,$TK1-&++=C='&(1-0UL$]-2$#O&C5'#$
;1-O10$"&,$K##0$*-=0;$10$*1,"$&($'#I#',$EGbN???$(1C#,$("&($*-=0;$10$("#$J&(#2E>Fc$Q[6,$
"&I#$K##0$*-=0;$10$R-2("$Q&+1*1+$B-'5"10,$&($EF$C1''1-0$(1C#,$("#$+-0+#0(2&(1-0$10$("#$
J&(#2E>3$ &0; $ (21+"'-2-&+#(1+ $ &+1; $ 1, $ *-=0; $ 10 $ R-2(" $ )=2-5#&0 $ +-01*#2, $ &( $ FSE?N???$
(1C#,$("&($10$("#$&CK1#0($&12E>GL$!"12;'8$("#8$&2#$+-0+#0(2&(#;$K8$("#$*-#(=,$,-$&$(851+&'$
5-'&2$K#&2$+=K$"&,$&$K-;8$K=2;#0$;-=K'#$("&($-*$1(,$C-("#2 E>Y$&0;$&($&$'#I#'$P0-J0$(-$
+&=,# $ 2#52-;=+(1I# $ *&1'=2#N $ &'(#2#; $ K2&10 $ ;#I#'-5C#0( $ &0; $ 1CC=0# $ ,=552#,,1-0E>XL$
]-=2("'8$("#8$&2#$0#&2'8$ &''$(-O1+L$/0$,"-2($("#$&K1'1(8$-*$#+-,8,(#C, $(-$&,,1C1'&(#$
-29&0-+"'-210#,$&0;$-("#2$5#2,1,(#0($K1-&++=C='&(1I#$+-C5-=0;,$1,$+'-,#$(-$W#2-$&0;$
("#8$,"-=';$,1C5'8$0#I#2$K#$2#'#&,#;$10(-$("#$#0I12-0C#0(L$
:X-J+"(+#&
B1-O10,$&2#$("#$-29&0-+"'-210#,$+-C5-=0;,$C-,($&,,-+1&(#;$J1("$10+10#2&(-2,$
&0; $10I#0(-21#, $ "&I#$ +-0,1,(#0('8$,"-J0$("&( $ 10+10#2&(-2, $ &2#$ ("#$ C&M-2 $,-=2+#$ -*$
#C1,,1-0,$-*$;1-O10,$10(-$("#$&12E>@SF?$ ("-=9"$("#,#$&2#$;#+2#&,109lL$B1-O10$2#'#&,#,$
-I#2$("#$'&,($*#J$;#+&;#,$"&I#$+&=,#;$J1;#,52#&;$+-0(&C10&(1-0$-*$*--;N$,1901*1+&0($
(-O1+$K-;8$K=2;#0,$10$0#&2'8$&''$"=C&0$K#109,$&0;$,#I#2#$5-''=(1-0$-*$("#$D2+(1+L$
R-0# $ -* $ ("1, $ J&, $ *-2#,##0L $ !"# $ ;&C&9# $ &'2#&;8 $ ;-0# $ K8 $ 10+10#2&(-2, $ "&, $ K##0$
10+&'+='&K'#L
)19"(##0$,#5&2&(#$&,,#,,C#0(,$-*$;1-O10^,$+&2+10-9#01+1(8$"&I#$10I-'I#;$*1I#$
;1**#2#0($2-=(#,$-*$#O5-,=2#N$*1I#$;1**#2#0($,5#+1#,N$'-J$&0;$"19"$;-,#,$&0;$'-09$-2$
,"-2( $ #O5-,=2# $ (1C#,L $/0 $.).2($ +&,# $ ;1-O10, $ "&I# $ +&=,#; $ +&0+#2N $ 10I-'I109 $ 010#$
;1**#2#0($(85#,$-*$+&0+#2N$10+'=;109$'8C5"-C&,N$+&0+#2,$-*$("#$'=09N$'1I#2N$,P10N$,-*($
(1,,=#$&0;$-*$("#$-2&'$&0;$0&,&'$+&I1(1#,EFEL$!"#$R&(1-0&'$/0,(1(=(#$-*$)0I12-0C#0(&'$
%#&'("$"&I#$'--P#;$*-2N$K=($K##0$=0&K'#$(-$*10;N$&08$("2#,"-';$*-2$("#$(-O1+1(8$-*$
;1-O10L$D($("#$'-J#,($;#(#+(&K'#$+-0+#0(2&(1-0,$1($+&0$10;=+#$(&29#($9#0#,$&0;$&+(1I&(#$
& $ +&,+&;# $ -* $ 10(2&+#''='&2 $ C-'#+='&2 $ #**#+(, $ &0; $ +&0 $ 52-C-(# $ 52#SC&'190&0( $ '1I#2$
(=C-=2,$&0;$;1,2=5($"-2C-0#,EF>L$$)I#0$;-,#,$&,$'-J$&,$>LG$5&2(,$5#2$V=&;21''1-0$+&0$
,(-5$+='(=2#;$+#'',$*2-C$,"-J109$+"&09#,$+"&2&+(#21,(1+$-*$1CC=0#$2#,5-0,#,EFFL
!"# $ _7 $ )0I12-0C#0(&' $ Q2-(#+(1-0 $ D9#0+8^, $ +=22#0( $ #,(1C&(# $ -* $ ;1-O10^,$
+&2+10-9#01+1(8N$;#21I#;$*2-C$&01C&'$,(=;1#,N$1,$("&($("#$&I#2&9#$5#2,-0^,$#O5-,=2#$(-$
;1-O10N$J"1+"$1,$FSY$51+-92&C$5#2$P1'-92&C$5#2$;&8ll$91I#,$&$'1*#(1C#$+&0+#2$21,P$-*$
K#(J##0$G??$&0;$E???$5#2$C1''1-0EF3L$TD0$&++#5(&K'#$+&0+#2$21,P$1,$+-0,1;#2#;$(-$K#$
K#(J##0$E$10$&$C1''1-0$&0;$E$10$E??N???UL$/0$+-C5&21,-0N$&$k#2C&0$,(=;8 EFGN$;#21I#;$
*2-C$"=C&0 $;1-O10$ #O5-,=2#N $*-=0;$("&($#&+" $&;;1(1-0&' $=01($;-,#$-*$;1-O10 $T-0#$
51+-92&C$5#2$ P1'-92&C$ -*$K-;8$ J#19"($5#2$;&8U $1, $&,,-+1&(#; $J1(" $&0$10+2#&,#$ 10$
'1*#(1C#$+&0+#2$21,P$-*$K#(J##0$E???$&0;$E?N???$5#2$C1''1-0L$
!"# $ &I#2&9# $ 10*&0( $ 2#+#1I#, $ ;-,#, $ -* $ ;1-O10, $ -* $ Y?S@? $ 51+-92&C,$
T!)gU $ 5#2$ P1'-92&C $ 5#2 $ ;&8EFYNEFX$ J"1+" $ 1, $ E?S$ >? $ (1C#, $ "19"#2 $ ("&0 $ ("-,# $ -*$ ("#$
&I#2&9#$&;='($&0;$#O+##;,$K8$&$*&+(-2$-*$Y$a$E?N???$#I#28$9-I#20C#0($10$("#$J-2';^,$
&++#5(&K'#$;&1'8$10(&P#Llll$!"1,$;1-O10$10(&P#$10$("#$*12,($8#&2$"&,$K##0$+&'+='&(#;$(-$
5-,#$&$+&0+#2$21,P$(-$("#$&I#2&9#$10*&0($-*$E@X$5#2$C1''1-0$TE@X$(1C#,$("#$&++#5(&K'#$
'#I#'UEF@L$
D'' $ ("#,# $ *19=2#, $ ;#C-0,(2&(# $ ("&( $ ;1-O10, $ &'2#&;8 $ 10 $ ("# $ #0I12-0C#0( $ &2# $ &($
=0&++#5(&K'#$'#I#',$&0;$&2#$'1P#'8$(-$K#$+&=,109$=5$(-$YZ$-*$&''$+&0+#2,$&0;$(-$K#$
"&I109$&$2&09#$-*$&;I#2,#$1C5&+(,$-0$"#&'("$10+'=;109$,=K('#$#**#+(,L$
Eb
4&(,$91I#0$;1-O10$(-$52-;=+#$&$K-;8$K=2;#0$-*$;1-O10$&($&K-=($"&'*$("#$&I#2&9#$10$
("#$"=C&0$5-5='&(1-0$"&;$C&'#$-**,52109$J"-,#$,5#2C$+-=0($J&,$2#;=+#;$K8$>GZ EFb$
&0;$2"#,=,$C-0P#8,$91I#0$;1-O10$#V=1I&'#0($(-$(J1+#$("#$&I#2&9#$"=C&0$K-;8$K=2;#0$
"&;$10+2#&,#;$ *-#(&'$;#&("$10$("#12$-**,52109 $&0;$+-901(1I# $1C5&12C#0( $J"1+"$J&,$
(2&0,9#0#2&(1-0&' $ T5&,,#; $ -0 $ (- $ ("#12 $ -**,52109U $ &0; $ &K0-2C&''8 $ &992#,,1I#$
K#"&I1-=2E3?NE3EL$!"1,$;&(&$10;1+&(#,$("&($2#'#&,109$#I#0$&$,C&''$&C-=0($-*$;1-O10$10(-$
&0$&'2#&;8$-I#2'-&;#;$#0I12-0C#0($+&0$,1C5'8$0-($K#$M=,(1*1#;L
lD0$&,,#,,C#0($-*$;1-O10,$K8$("#$)=2-5#&0$B1-O10$/0I#0(-28$10$>??G$*-=0;$("&($10$("#$_`N$("#$
K199#,( $ ,109'# $ ,-=2+# $ -* $ ;1-O10, $ 10 $ >??? $ &0; $ 10 $ >??G $ T52-M#+(#; $ *19=2#U $ J&, $ ("# $ 10+10#2&(1-0 $ -*$
C=01+15&'$J&,(#N$52-;=+109$>?$(1C#,$&,$C=+"$;1-O10$&,$2-&;$(2&0,5-2(E3>L$
ll$&$51+-92&C$1,$EN???N???N???N???$92&CN$1#L$&$K1''1-0("$-*$&$92&C$10$("#$_`N$K=($C-2#$(851+&''8$
;#,+21K#;$10$$_7$'1(#2&(=2#$&,$&$(21''1-0("$-*$&$92&CL$
lll $ $ !-'#2&K'# $ ;&1'8 $ 10(&P# $ T!B/U $ 1, $ ,#( $ &( $ ?L??Y $ 51+-92&C,oP9 $ 5#2 $ ;&8 $ 10 $ ("# $ _7 $ &0; $ >$
51+-92&C,oP9$5#2$;&8$10$("#$_`L$
>4E--'88%)$&-"#-N%#%$+)-H0$%1+0<
6-("$"#&I8$C#(&',$&0;$C&08$+"#C1+&',$*-2C$+-I&'#0($K-0;,$J1("$BRD$+&''#;$
BRD $ &;;=+(,L $ !"1, $ +&0 $ 10+2#&,# $ ("# $ 21,P $ -* $ +&0+#2 $ K8 $ &+(1I&(109 $ -0+-9#0#, $ &0;$
K'-+P109$&0(1S(=C-=2$9#0#,L$!"1,$2&1,#,$&$I#28$,#21-=,$+-0+#20L$!"1,$+-0+#20$1,$("&($
K8 $ 2#'#&,109 $ +"#C1+&', $ 10(- $ ("# $ #0I12-0C#0( $ J# $ C&8 $ 0-( $ -0'8 $ K# $ 5-1,-0109 $ ("1,$
9#0#2&(1-0 $ K=( $ ("# $ 0#O(L $ [&2+10-9#0#,1, $ *2-C $ +"#C1+&', $ K#109 $ 5&,,#; $ -0 $ ("2-=9"$
,#I#2&'$ 9#0#2&(1-0, $1,$ 0-($M=,($&$"-221*8109 $,+#0&21-$K=($"&,$K##0$;#C-0,(2&(#;$(-$
-++=2$10$&01C&',E3FNE33L$/0+10#2&(-2$#C1,,1-0,$J-=';$92#&('8$10+2#&,#$("1,$21,PL
BRD$&;;=+(,$(-$QD%,$10+2#&,#$J1("$#O5-,=2#$(-$5-''=(1-0$&0;$5&(1#0(,$J1("$
'=09$+&0+#2$"&I#$"19"#2$'#I#',$-*$&;;=+(,$T,##$K#'-JUL$!"1,$1,$-0#$;#C-0,(2&(1-0$-*$
"-J$5-''=(&0(,$&'(#2$9#0#,$&0;$52#;1,5-,#$(-$+&0+#2L$\("#2$+"#C1+&',N$,=+"$&,$I108'$
+"'-21;#$10(#2*#2#$J1("$BRD$2#5&12$&0;$8#($-("#2,$,=+"$&,$-29&0-+"'-210#,$&2#$(=C-=2$
52-C-(#2,L$
>4F--'88%)$&-"#-$9%-5//*#%-.2&$%/
7(&2(109$10$ ("#$ '&(#$Eb@?,$&$,#21#,$-*$;2&C&(1+$C&210# $#51;#C1+, $P1''#; $-**$
("-=,&0;,$-*$;-'5"10,N$,#&',$&0;$5-25-1,#,L$:&08$J#2#$*-=0;$(-$"&I#$K##0$&**#+(#;$
K8$&$;1,(#C5#2S'1P#$I12=,L$D=(-5,1#,$-*$("#$;#&;$&01C&',$,"-J#;$J#&P#0#;$1CC=0#$
,8,(#C, $ &0;$"19" $'#I#', $ -*$5-''=(&0(, $ 10+'=;109 $ Q[6, $ &0;$,80("#(1+ $ +"#C1+&',L $D$
I12-'-91,(N$D'K#2($\,(#2"&=,$&0;$"1,$+-SJ-2P#2,N$;#C-0,(2&(#;$("&($J"#0$,#&',$J#2#$
*#;$+-0(&C10&(#;$*1,"$+-0(&10109$-29&0-+"'-210#,$TJ"1+"$J#2#N$"-J#I#2N$+-0,1;#2#;$
*1($*-2$"=C&0$+-0,=C5(1-0U$("#8$;#I#'-5#;$1CC=0#$,=552#,,1-0$&0;$J#2#$=0&K'#$(-$
*19"($I12=,#,E3GSXL$!"#12$0&(=2&'$P1''#2$+#'',$J#2#$>?SG?Z$K#'-J$0-2C&'$&0;$("#12$!$+#''$
2#,5-0,# $ ;2-55#; $ K8 $ >GSY?ZL $ !"# $ 1CC=0# $ ,=552#,,1-0 $ J&, $ ;=# $ (- $ ;1-O10S'1P#$
+"#C1+&',N $ Q[6, $ &0; $ ,80("#(1+ $ +"#C1+&',L $ D0 $ 1CC=0-'-91,( $ k&2#( $ H&"I1, $ *-=0;$
1CC=01(8 $ 10 $ ;-'5"10, $ 10 $ ("# $ _7D $ ;2-55#; $ &, $ Q[6, $ &0; $ BB! $ 10+2#&,#; $ 10 $ ("#12$
K'--;E3@L$!"#$1CC=0#$,8,(#C$&55#&2#;$C-,($I='0#2&K'#$;=2109$52#0&(&'$;#I#'-5C#0(L$
!"1,$;#C-0,(2&(#,$("&($("#$1CC=0#$,8,(#C$C&8$K#$;&C&9#;$K8$#O5-,=2#$(-$,80("#(1+$
+"#C1+&',$&0;$("&($J#$"&I#$,#21-=,'8$=0;#2#,(1C&(#;$("#$;&09#2,$-*$("#,#$+"#C1+&',L
D01C&' $ #O5#21C#0(, $ "&I# $ ,"-J0 $ 1CC=0-(-O1+1(8 $ J1(" $ "#&I8 $ C#(&',N$
-29&0-+"'-210#$5#,(1+1;#,$&0;$"&'-9#0&(#;$&2-C&(1+,E3b$&0;$&++1;#0(&'$#O5-,=2#$;&(&$
-0$"=C&0,$"&,$,"-J0$1CC=0-(-O1+1(8$J1("$Q66,N$;1-O10,$&0;$&';1+&2KL$/0$*&+($J"-'#$
I-'=C#,$"&I#$K##0$J21((#0$-0$1CC=0-(-O1+1(8EG?L$R-(#$("#,#$&2#$("#$(85#$-*$5-''=(&0(,$
2#'#&,#; $ K8 $ 10+10#2&(-2,L $ )0I12-0C#0(&' $ (-O10, $ "&I# $ K##0 $ ,"-J0 $ (- $ ;#+2#&,# $ !S
'8C5"-+8(#$"#'5#2S,=552#,,-2$2&(1-,$10$*-=2$;1**#2#0($#O5-,#;$5-5='&(1-0,EGEL$R1(2-9#0$
;1-O1;#$#O5-,=2#$'#&;,$(-$&K0-2C&''8$#'#I&(#;$1CC=0#$&0;$&''#291+$2#,5-0,#,L$Q:>LG$
>?
5&2(1+='&(#,$("#C,#'I#,$+&0$+&=,#$C=(&9#01+$&0;$+8(-(-O1+$#**#+(,$&0;$("#$,C&''#,($
5&2(1+='&(#,$+&=,#$("#$92#&(#,($#**#+(,EG>L
/0$=(#2-$#O5-,=2#$(-$;1-O10,$2#,='(,$10$("8C=,$&(2-5"8$&0;$J#&P#0#;$1CC=0#$
;#*#0+#,EGFL$."#0$*#C&'#$2"#,=,$C-0P#8,$J#2#$#O5-,#;$(-$Q[6,$&($I#28$'-J$'#I#',$
52-;=+109$&$K-;8$K=2;#0$(851+&'$-*$9#0#2&'$"=C&0$5-5='&(1-0N$("#12$-**,52109^,$&K1'1(8$
(-$C-=0($&$;#*#0+#$&9&10,($*-2#190$52-(#10,$J&,$5#2C&0#0('8$+-C52-C1,#;EG3L$
/0$,=CC&28$("#2#$1,$&K=0;&0($ #I1;#0+#$("&($&$'&29#$0=CK#2$-*$("#$5-''=(&0(,$
#C1((#; $ K8 $ 10+10#2&(-2, $ +&0 $ +&=,# $ ;&C&9# $ (- $ ("# $ 1CC=0# $ ,8,(#CEGGL $ D, $ 1,$
;#C-0,(2&(#;$10$("#$0#O($,#+(1-0$("#$+-CK10&(1-0$-*$("#,#$1,$'1P#'8$(-$"&I#$&0$#I#0$
C-2#$5-(#0($&0;$;&C&9109$#**#+($-0$1CC=01(8$("&0$&08$-0#$5-''=(&0($10$1,-'&(1-0L$
>4G--.2#%1@+&$+)-'88%)$&
$$$
d&21-=, $ ,(=;1#, $ "&I# $ ,"-J0 $ ("&( $ & $ +-CK10&(1-0 $ -* $ ,=K,(&0+#, $ +&0 $ +&=,#$
(-O1+1(8$#I#0$J"#0$("#$10;1I1;=&'$+"#C1+&',$&2#$&($&$'#I#'$0-2C&''8$+-0,1;#2#;$,&*#L$
!"#$2#5-2($m:&0^,$/C5&+($-0$("#$k'-K&'$)0I12-0C#0(n$K8$("#$:&,,&+"=,#((,$/0,(1(=(#$
-*$!#+"0-'-98$,(&(#;$m,80#291,(1+$#**#+(,$&C-09$+"#C1+&'$5-''=(&0(,$&2#$C-2#$-*(#0$
52#,#0($("&0$0-(nEGYL$$!#,(109$"&,$K##0$C101C&'$&0;$C-,($-*$("#$,80#291,(1+$#**#+(,$&2#$
'1P#'8$(-$2#C&10$=0P0-J0L$!-O1+-'-91,($Q2-*$d8I8&0$%-J&2;$"&,$+&'+='&(#;$("&($(-$
(#,($M=,($("#$+-CC-0#,($EN???$(-O1+$+"#C1+&',$10$=01V=#$+-CK10&(1-0,$-*$("2##$J-=';$
2#V=12# $ EYY $ C1''1-0 $ ;1**#2#0( $ #O5#21C#0(, $ &0; $ #I#0 $ ("1, $ J-='; $ ;1,2#9&2; $ I&28109$
;-,#,EGXL$
780#298$"&,$K##0$;#C-0,(2&(#;$J"#0$-29&01+$+"#C1+&',$&2#$+-CK10#;$J1("$
"#&I8$C#(&',NEG@NEGb$&0;$J1("$+-CK10&(1-0,$-*$5#,(1+1;#,EY?NEYE$&0;$*--;$&;;1(1I#,EY>L$!"#$
'&,($,(=;8$1,$-*$5&2(1+='&2$+-0+#20L$4&(,$*#;$J1("$-0#$&;;1(1I#$J#2#$=0"&2C#;L$!"-,#$
*#;$(J-$;#I#'-5#;$&$I&21#(8$-*$,8C5(-C,$J"#2#&,$("-,#$*#;$&''$("2##$&''$;1#;$J1("10$
(J-$J##P,L$/0$("1,$+&,#$("#$+"#C1+&',$ &55#&2#;$(-$&C5'1*8$#&+"$-("#2^,$(-O1+1(8$10$
'-9&21("C1+$*&,"1-0L$/0$&$2#+#0($#O5#21C#0($,+1#0(1,(,$;-,#;$&01C&',$J1("$&$C1O(=2#$-*$
EY $ -29&0-+"'-210# $ 5#,(1+1;#,N $ '#&; $ &0; $ +&;C1=C $ &( $ m,&*# $ '#I#',n $ &0; $ *-=0; $ ("#8$
;#I#'-5#; $ 1C5&12#; $ 1CC=0# $ 2#,5-0,#,N $ &'(#2#; $ ("82-1; $ *=0+(1-0 $ &0; $ &'(#2#; $ K2&10$
;#I#'-5C#0(EYFL$D0-("#2$,(=;8$10$EbbYN$5=K'1,"#;$10$7+1#0+#N$2#5-2(#;$-0$("#$;&09#2,$
-*$+-CK10&(1-0,$-*$5#,(1+1;#,$&0;$("#12$&K1'1(8$(-$C1C1+$-#,(2-9#0L$!"#8$*-=0;$("&($
+-CK10&(1-0,$+-=';$10+2#&,#$("#$(-O1+1(8$K8$G??$(-$E???$(1C#, EY3L$:1+#$#O5-,#;$(-$>G$
+-CC-0 $ 92-=0;J&(#2 $ 5-''=(&0(,N $ &'' $ &( $ '#I#', $ J#'' $ K#'-J $ ("-,# $ ("&( $ 52-;=+# $ &08$
#**#+(, $10 $1,-'&(1-0N $ ;#I#'-5#; $ ,#I#2# $1CC=0-,=552#,,1-0EYGL$ !"# $'#I#' $ -*$ +-0+#20$
&K-=($("#$C='(15'1+1(8$-*$5-''=(&0(,$2#'#&,#;$10(-$("#$&12$K8$10+10#2&(-2,$1,$#0"&0+#;$K8$
("#$*&+( $("&($ #I#0$ J"#0$ ("#$52-K&K'#$#**#+(, $-*$("#$,109'#$5-''=(&0(, $10I-'I#;$&2#$
P0-J0N$0-$-0#$"&,$&08$1;#&$J"&($;&C&9#$("#$+-CK10&(1-0,$+&0$+&=,#L
!"# $ 5-5='&(1-0 $ '1I109 $ 2-=0; $ &0 $ 10+10#2&(-2 $ 1, $ K#109 $ #O5-,#; $ (- $ C='(15'#$
+"#C1+&' $ +&2+10-9#0,N $ &0; $ (- $ *10# $ 5&2(1+='&(#,N $ (- $ +&2+10-9#01+ $ "#&I8 $ C#(&', $ T10$
5&2(1+='&2$+&;C1=CU$&0;$10$,-C#$+&,#,$(-$2&;1-&+(1I#$5&2(1+'#,N$&''$P0-J0$(-$10+2#&,#$
'=09$+&0+#2L$R1(2-9#0$;1-O1;#$"&,$&',-$K##0$,"-J0$(-$,80#291,(1+&''8$10+2#&,#$'=09$
+&0+#2L$$."#0$&''$("#,#$&2#$+-CK10#;N$("#$#**#+(,$&2#$'1P#'8$(-$K#$C-2#$5-(#0(N$&0;N$10$
*&+(N$&0$10+2#&,#$10$("#$10+1;#0+#$-*$'=09$+&0+#2$"&,$K##0$2#5-2(#;$&2-=0;$10+10#2&(-2,$
T,##$,#+(1-0$3LEUL$
!"#$5-(#0(1&'$*-2$C='(15'#$5-''=(&0(,$(-$+&=,#$-("#2$,#21-=,$"#&'("$#**#+(,$1,$
1''=,(2&(#;$K8$("#$2#,='(,$-*$&$P#8$,(=;8$-0$2&(,$#O5-,#;$(-$("#$;=,(N$,-1'$&0;$&12$*2-C$&$
'&0;*1'' $ ,1(#L $!"#,# $ &01C&', $ ;#I#'-5#; $&K0-2C&' $+"&09#, $ 10 $("# $ '1I#2N $ ("82-1; $&0;$
2#52-;=+(1I#$-29&0,$J1("10$-0'8$(J-$;&8,$-*$#O5-,=2#EYYL$D'("-=9"$#**#+(,$10$&01C&',$
;-$0-($&'J&8,$C1C1+$("-,#$10$"=C&0,N$("#$&=("-2,$+-0+'=;#;$("&(-52#,#0($C#("-;,$-*$
>E
+&'+='&(109 $ "#&'(" $ 21,P, $ =0;#2#,(1C&(# $ ("# $ K1-'-91+&' $ #**#+(,L $ !"1, $ "&, $ -KI1-=,$
2#'#I&0+#$(-$("#$;&09#2,$-*$#O5-,109$5#-5'#$(-$C='(15'#$5-''=(&0(,$*2-C$10+10#2&(-2,L$$
-A4--$$
--5#)1%0&%6-H"1:+6+$2-0#6-H"1$0<+$2-#%01-5#)+#%10$"1&
A43--!0#)%1
!"#2#$"&I#$K##0$&$0=CK#2$-*$,(=;1#,$-*$("#$#**#+($-*$10+10#2&(-2,$-0$("#$
"#&'("$-*$("#$,=22-=0;109$5-5='&(1-0N$C&10'8$+-0+#0(2&(109$-0$+&0+#2$10+1;#0+#L$ $/0$
C-,($,(=;1#,N$("#$10+10#2&(-2,$J#2#$,1(=&(#;$0#&2$-("#2$,-=2+#,$-*$5-''=(1-0$&0;$-*(#0$
10$&2#&,$-*$;#521I&(1-0N$K-("$'1P#'8$(-$+-0*-=0;$("#$*10;109,$,10+#$K-("$&2#$&,,-+1&(#;$
J1("$"19"#2$+&0+#2$10+1;#0+#L$$!"#$,(=;8$-*$&0$10+10#2&(-2$K=20109$GGN???$(-00#,$-*$
J&,(#$&$8#&2$&0;$K=1'($10$EbXX$10$("#$C1;;'#$-*$&$2#,1;#0(1&'$&2#&$-*$&$(-J0$-*$E3?N???$
J1("$0-$"#&I8$10;=,(28$T710($R1P'&&,U$1, $,+1#0(1*1+&''8$=0,&(1,*&+(-28$K#+&=,#$*=0;,$
J#2# $ 0-( $ C&;# $ &I&1'&K'# $ *-2 $ ("# $ ,(=;8 $ -* $ +-0(2-',bGL $ %-J#I#2N$ ("# $ 10I#,(19&(-2,$
C&55#; $&$+-0I10+109 $+'=,(#2$-*$F@$+&0+#2$;#&(",$1CC#;1&(#'8 $,=22-=0;109$&0;$(-$
'##J&2;$-*$("#$10+10#2&(-2N$&0;$("1,$&2#&$&',-$,"-J#;$"19"$+-0+#0(2&(1-0,$-*$;1-O10$10$
,-1'$,&C5'#,$J"#0$(#,(#;$10$Ebb>L$$!"#8$0-(#;$("&($("#$+&0+#2$7:4$*-2$("1,$(-J0$*-2$
Ebb3SEbbY$T0&(1-0&'$,(&(1,(1+,U$J&,$"19"$TEE>L?@$*-2$C&'#,$&0;$E?GLF>$*-2$*#C&'#,UN$
,=55-2(109$("#$9#0=10#$0&(=2#$-*$("#12$*10;109,L$
/0$EbbYN$)''1-(($#($&'L$5=K'1,"#;$&$C&M-2$,(=;8EYX$10$J"1+"$("#8$+-C5&2#;$("#$
0=CK#2,$-*$2#91,(#2#;$+&0+#2$+&,#,$J1("10$F$PC$&0;$J1("10$XLG$PC$-*$("#$X>$C=01+15&'$
J&,(#$10+10#2&(-2$,1(#,$10$("#$_`$J1("$("#$0=CK#2$-*$+&,#,$#O5#+(#;L$/($10I-'I#;$;&(&$
-0$-I#2$E3$C1''1-0$5#-5'#$*-2$=5$(-$EF$8#&2,L$$)O5#+(#;$0=CK#2,$J#2#$+&'+='&(#;$*2-C$
0&(1-0&'$2#91,(2&(1-0,N$&;M=,(#;$*-2$=0#C5'-8C#0(N$-I#2+2-J;109$&0;$,-+1&'$+'&,,L$$R-$
&++-=0($J&,$(&P#0$-*$52#I&1'109$J10;,N$-2$-*$;1**#2#0+#,$K#(J##0$10+10#2&(-2,L$$!"#8$
*12,($,(=;1#;$&$,&C5'#$-*$>?$-*$("#$10+10#2&(-2$,1(#,N$2#5'1+&(109$("#$&0&'8,1,$'&(#2$J1("$
("#$-("#2$G>L$$/*$("#$2#,='(,$-*$(J-$,#(,$'1P#$("1,$+-0+=2N$1($,(2#09("#0,$("#$;&(&L$/0$#&+"$
,#($("#2#$J&,$&0$#O+#,,$-*$&''$+&0+#2,$0#&2$("#$10+10#2&(-2,N$&0;$#O+#,,#,$,#5&2&(#'8$-*$
,(-C&+"N$+-'-2#+(&'N$'1I#2$&0;$'=09$+&0+#2,N$K=($0-($'#=P&#C1&,L$!"#$*12,($,#($9&I#$
&;M=,(#;$C-2(&'1(8$2&(1-,$*-2$&''$+&0+#2,$-*$EL?@$*-2$J1("10$FPC$&0;$EL?G$J1("10$XLG$
PCc$*-2$("#$,#+-0;$("#,#$J#2#$EL?3$&0;$EL?>L$!"#,#$21,P,N$2#52#,#0(109$&0$&;;1(1-0&'$
21,P$-*$@Z$&0;$GZ$*-2$("#$*12,($,#($&0;$3Z$&0;$>Z$*-2$("#$,#+-0;N$,##C$,C&'' $:*$1%C1%&%#$%6-0-$"$0<-"8-",%1-33U[[[-%($10-)0#)%1-6%0$9&-#%01-+#)+#%10$"1&-&0;$J#2#$
"19"'8$,1901*1+&0($T5$e?L??E$*-2$#&+"UL$
]-2$#&+"$-*$("#$C&10$+&0+#2$,1(#,$("#$#O+#,,#,$J#2#$"19"#2$*-2$("-,#$'1I109$
J1("10 $ F $ PC $("&0 $ *-2$ &'' $ J1("10 $XLG $PC EYXNEY@N $,=99#,(109 $ ("&( $("# $10+10#2&(-2, $"&;$
+&=,#;$("#$#O+#,,L$!"#$&=("-2,$;-=K(#;$("1,$&0;$&((21K=(#;$("#$*10;109,$(-$&;;1(1-0&'$
+-0*-=0;109 $ 10 $ ,51(# $ -* $ ("# $ *&+( $ ("&( $ ("#8 $ "&; $ &'2#&;8 $ &;M=,(#; $ T5-,,1K'8 $ -I#2S
&;M=,(#;U $ *-2 $ =0#C5'-8C#0(N $ -I#2+2-J;109 $ &0; $ ,-+1&' $ +'&,,N $ J"1+" $ 91I# $ & $ 5&2(1&'$
+-22#+(1-0 $ *-2 $ 5-''=(1-0L $ :-2#-I#2N $ ("# $ #**#+( $ -0 $ 5#-5'# $ '1I109 $ (- $ '##J&2; $ -* $ ("#$
10+10#2&(-2$J-=';$K#$,=K,(&0(1&''8$"19"#2$("&0$,"-J0$K8$("1,$,(=;8$&,$("#$(2=#$0=CK#2$
-*$5#-5'#$&**#+(#;$J&,$;1'=(#;$K8$("-,#$'1I109$&($("#$,&C#$;1,(&0+#$K=($&J&8$*2-C$("#$
J10;$5'=C#$+-C109$*2-C$("#$10+10#2&(-2L$
`0-O $ #( $ &'L $ '--P#; $ &( $ ("# $ ;&(& $ *2-C $ >>N3G@ $ +"1';2#0 $ J"- $ ;1#; $ -* $ +&0+#2$
K#(J##0$EbGF$&0;$Eb@?$10$("#$_`EYbL$]-2$#&+"$+"1';$("#8$+-C5&2#;$("#$;1,(&0+#$-*$("#$
>>
K12("$&0;$;#&("$&;;2#,,#,$*2-C$("#$0#&2#,($,-=2+#$-*$5-''=(1-0$&0;$*-=0;$&$+-0,1,(#0($
&,8CC#(28A$C-2#$"&;$C-I#;$&J&8$*2-C$("#$0#&2#,($"&W&2;$("&0$(-J&2;,$1(EYbL$!"#8$
;#;=+#;$("&($("#$#O+#,,$-*$C192&(1-0,$&J&8$*2-C$("#$"&W&2;$T&*(#2$&''-J109$*-2$,-+1&'$
*&+(-2,U $ J&, $ #I1;#0+# $ ("&( $ ("# $ +"1';2#0 $ "&; $ K##0 $ &**#+(#; $ K8 $ ("# $ +&0+#2S+&=,109$
5-''=(1-0$K#*-2#$-2$,"-2('8$&*(#2$K12("L$$
H&(#2$("#8$&55'1#;$("#$C#("-;$(-$("#$,#($-*$10+10#2&(-2,$,(=;1#;$K8$)''1-(($#($&'L$
&0;$&9&10$,"-J#;$("#$,&C#$&,8CC#(28$10$("#$+"1';2#0^,$K12("$&0;$;#&("$&;;2#,,#,N$
10;1+&(109$("&($("#$10+10#2&(-2,$"&;$5-,#;$&$+&0+#2$21,P$(-$+"1';2#0 EX?L$\*$("#$bN>>3$
+"1';2#0$*-2$J"-C$("#8$"&;$*-=0;$&++=2&(#$K12("$&0;$;#&("$&;;2#,,#,N$3NF@G$+"1';2#0$
"&;$C-I#;$&($'#&,($?LE$PCL$ $71901*1+&0('8N$C-2#$+"1';2#0$"&;$C192&(#;$&J&8$*2-C$
10+10#2&(-2,$("&0$(-J&2;,L$$]-2$&''$("-,#$J"-$"&;$&($'#&,($-0#$&;;2#,,$J1("10$F$PC$-*$
&0$10+10#2&(-2N$("#$2&(1-$J&,$EL>XL$$."#0$("#8$'1C1(#;$("#$&0&'8,1,$(-$+"1';2#0$J1("$-0#$
&;;2#,,$10,1;#$&$G$PC$2&;1=,$*2-C$("#$0#&2#,($10+10#2&(-2$&0;$("#$-("#2$&;;2#,,$-=(,1;#$
("1,$2&;1=,$("#$2&(1-$J&,$>L?Ec$("1,$10;1+&(#;$&$;-=K'109$-*$+&0+#2$21,PL$ $6-("$("#,#$
*10;109,$J#2#$"19"'8$,1901*1+&0($T5$e?L??E$*-2$#&+"UL$!"#$#O+#,,$"&;$-0'8$-++=22#;$
;=2109$("#$-5#2&(1-0&'$5#21-;$-*$#&+"$10+10#2&(-2$&0;$J&,$&',-$0-(#;$2-=0;$"-,51(&'$
10+10#2&(-2, $ K=( $ 0-( $ '&0;*1'' $ ,1(#,L $ !"1, $ 1, $ ,(2-09 $ #I1;#0+# $ ("&( $ ("# $ 10+10#2&(-2,^$
#C1,,1-0,$+-0(21K=(#;$(-$("#$+"1';2#0^,$+&0+#2$;#&(",L$
6199#21 $ #( $ &'L $ 10 $ EbbY $ +-C5&2#; $ XGG $ '=09 $ +&0+#2 $ ;#&(", $ 10 $ !21#,(# $ J1("$
+-0(2-',$10$2#'&(1-0$(-$,C-P109N$52-K&K'#$-++=5&(1-0&'$#O5-,=2#$(-$+&2+10-9#0,$&0;$&12$
5-''=(1-0$TC#&,=2#;$0#&2#,($(-$("#12$"-C#,U$&0;$("#$;1,(&0+#$-*$("#12$"-C#$*2-C$#&+"$
-*$*-=2$5-''=(1-0$,1(#,L$$!"#$+1(8$+#0(2#$+&221#;$&$21,P$-*$'=09$+&0+#2$K=($("#$,(2-09#,($
+-22#'&(1-0$J&,$J1("$("#$10+10#2&(-2$J"#2#$("#8$*-=0;$&$YLX$#O+#,,$-*$'=09$+&0+#2$&*(#2$
&''-J109$*-2$10;1I1;=&'$21,P$*&+(-2,EXEL
_,109$&$,5&(1&'$,+&0$,(&(1,(1+N$d1#'$#($&'$>???$'--P#;$&($("#$10+1;#0+#$-*$,-*($
(1,,=#$,&2+-C&$&0;$0-0S%-;9P10^,$'8C5"-C&$*2-C$]2#0+"$[&0+#2$4#91,(28$;&(&N$10$
(J-$&2#&,$+'-,#$(-$&0$10+10#2&(-2$J1("$"19"$#C1,,1-0$-*$;1-O10 EX>L$!"#8$*-=0;$"19"'8$
,1901*1+&0($+'=,(#2,$-*$,-*($(1,,=#$,&2+-C&$T44$EL33U$&0;$-*$0-0S%-;9P10,$'8C5"-C&$
T44$EL>XU$K=($0-$+'=,(#2,$-*$%-;9P10,$;1,#&,#$T=,#;$&,$0#9&(1I#$+-0(2-'UL$$!"1,$,(=;8$
J&,$10(#2#,(109$10$("&($1($J&,$;#,190#;$(-$'--P$K-("$10$&$*-+=,,#;$J&8$&($("#$&2#&$
2-=0; $ ("# $ 10+10#2&(-2N $ &0; $ (- $ +"#+P $ ("# $ &,,-+1&(1-0 $ K8 $ '--P109 $ *-2 $ ,5&+# $ (1C#$
2#'&(1-0,"15,$J"1+"$,"-=';$K#$52#,#0($1*$("#$2#'&(1-0,"15$J&,$+&=,&'L$/0$&;;1(1-0$("#8$
'--P#;$10$&0$=0*-+=,,#;$J&8$*-2$-("#2$+'=,(#2,$10$("#$J1;#2$&2#&$J"1+"$+-0(&10#;$
-("#2 $ &2#&, $ -* $ ;#521I&(1-0L $ 6-(" $ ("# $ *12,( $ (J-$ &0&'8,#, $ J#2# $ 5-,1(1I# $ +'-,# $ (- $ ("#$
10+10#2&(-2$S$;#C-0,(2&(109$("&($&$+&=,&'$2#'&(1-0,"15$J&,$'1P#'8$S$&0;$,10+#$0-$-("#2$
+'=,(#2,$J#2#$*-=0;$("#8$+-0+'=;#;$("&($;#521I&(1-0$+-=';$K#$I12(=&''8$#O+'=;#;$&,$&$
*&+(-2L
D++-2;109 $ (- $ \"(& $ #( $ &'N $ <&5&0 $ K=1'( $ XFZ $ -* $ &'' $ ("# $ C=01+15&' $ J&,(#$
10+10#2&(-2,$10$("#$J-2';$&0;$K8$EbbX$"&;$K#+-C#$I#28$+-0+#20#;$&K-=($("#12$"#&'("$
#**#+(,A$10$("#$I1''&9#$-*$7"10(-0#N$3>Z$-*$&''$;#&(",$K#(J##0$Eb@GSbG$10$("#$&2#&$=5$
(-$EL>$PC$(-$'##J&2;$-*$&0$10+10#2&(-2$TK=1'($10$EbXEU$J#2#$;=#$(-$+&0+#2N$+-C5&2#;$(-$
>?Z $ *=2("#2 $ &J&8 $ &0; $ >GZ $ -I#2&'' $ 10 $ ("# $ '-+&' $ 52#*#+(=2#EXFL $ !"#12 $ ;&(& $ -0 $ ,-1'$
+-0(&C10&(1-0$2#10*-2+#;$("#$1C5-2(&0+#$-*$+-0,1;#2109$J10;$;12#+(1-0,$10$#I&'=&(109$
("#$"#&'("$#**#+(,$-*$10+10#2&(-2,L$
[-CK& $ *-=0; $ &0 $ 10+2#&,#; $ 10+1;#0+# $ -* $ ,-*( $ (1,,=# $ ,&2+-C& $ 10 $ &0 $ /(&'1&0$
5-5='&(1-0$'1I109$J1("10$>$PC$-*$&0$10+10#2&(-2EX3L$p&CK-0$#($&'$'--P#;$&($+&,#,$-*$
,&2+-C& $ *2-C $ & $ ;1**#2#0( $ 5#2,5#+(1I#L $ !"#8 $ +&'+='&(#; $ ;1-O10 $ #O5-,=2# $ *2-C$
10+10#2&(-2,$&0;$-("#2$10;=,(21&'$,-=2+#,$10$5&(1#0(,$J1("$,&2+-C&$=,109$&$;1,5#2,1-0$
C-;#' $ &0; $ *-=0; $ ("# $ 21,P $ -* $ ,&2+-C& $ 10+2#&,#; $ J1(" $ ("# $ #O(#0( $ &0; $ ;=2&(1-0 $ -*$
#O5-,=2#$(-$;1-O10EXGL
>F
/0$Eb@b$k=,(&I,,-0$2#5-2(#;$&$(J-*-';$10+2#&,#$10$'=09$+&0+#2$10$10+10#2&(-2$
J-2P#2,$10$7J#;#0$+-C5&2#;$(-$("#$#O5#+(#;$'-+&'$2&(#EXYL$/0$EbbF$"#$2#5-2(#;$&$ELG$
*-';$10+2#&,#$10$-#,-5"&9#&'$+&0+#2$10$+-CK=,(1-0$J-2P#2,N$10+'=;109$("-,#$J-2P109$
10$10+10#2&(-2,EXXL
A47--I+1$9-J%8%)$&
!"#2#$"&I#$K##0$*1I#$2#5-2(,$-*$10+2#&,#,$10$+-09#01(&'$&K0-2C&'1(1#,$&2-=0;$
10+10#2&(-2,L$!"#$10I#,(19&(-2,$&($710($R1P'&&,$0-(#;$C='(15'#$K12("$;#*#+(,$(-$'##J&2;$
-*$("#$10+10#2&(-2bGL$\2-*&+1&'$;#*#+(,$&0;$-("#2$C1;'10#$;#*#+(,$J#2#$*-=0;$(-$K#$C-2#$
("&0$;-=K'#;$0#&2$&0$10+10#2&(-2$10$p##K=29N$DC,(#2;&CEX@L$:-,($-*$("#,#$;#*-2C#;$
K&K1#, $J#2#$K-20$10$&0$&2#&$+-22#,5-0;109 $(- $J10;S*'-J$*2-C$("#$10+10#2&(-2$&0;$
-("#2$;#*#+(,$10+'=;#;$"85-,5&;1=,$&0;$,510&$K1*1;&L$/0$("#$R##2'&0;$&2#&N$6#'91=CN$
("#2#$J&,$&$>YZ$10+2#&,#$10$+-09#01(&'$&0-C&'1#,$10$&0$&2#&$,1(=&(#;$K#(J##0$(J-$
10+10#2&(-2,EXbL$D$,(=;8$-*$10+10#2&(-2,$10$]2&0+#$"&,$,"-J0$+"2-C-,-C&'$;#*#+(,$&0;$
-("#2$C&M-2$&0-C&'1#,$T*&+1&'$+'#*(,N$C#9&+-'-0N$2#0&'$;8,5'&,1&,UE@?L$D$2#+#0($621(1,"$
,(=;8$'--P#;$&($K12(",$10$[=CK21&$K#(J##0$EbGY$&0;$EbbF$&0;$2#5-2(#;$,1901*1+&0('8$
10+2#&,#; $ '#("&' $ K12("$ ;#*#+(, $&2-=0;$ 10+10#2&(-2, $ &*(#2 $&;M=,(109 $ *-2$8#&2 $-*$ K12("N$
,-+1&'$+'&,,N$K12("$-2;#2N$&0;$C='(15'#$K12(",L$!"#$-;;,$2&(1-$*-2$,510&$K1*1;&$J&,$ELEX$
&0;$("&($*-2$"#&2($ ;#*#+(, $ELE>L$!"#2#$J&,$&',- $&0$10+2#&,#; $21,P $-*$,(1''K12(" $&0;$
&0#0+#5"&'=,$&2-=0;$+2#C&(-21=C,E@EL$!"#$,(=;8$5-10(#;$-=($("&($("#$*19=2#,$*-2$K12("$
;#*#+(, $ &2# $ '1P#'8 $ (- $ K# $ ,=K,(&0(1&' $ =0;#2#,(1C&(#, $ ,10+# $ ("#8 $ ;- $ 0-( $ 10+'=;#$
,5-0(&0#-=,$-2$("#2&5#=(1+$&K-2(1-0,N$K-("$10+2#&,#;$K8$*-#(&'$&0-C&'1#,L
/0$&;;1(1-0N$,#I#2&'$,(=;1#,$"&I#$0-(#;$&0$10+2#&,#$10$K12("$;#*#+(,$0#&2$J&,(#$
,1(#,N$5&2(1+='&2'8$"&W&2;-=,$J&,(#$,1(#,L$!"#$5&((#20$-*$&K0-2C&'1(1#,$J&,$,1C1'&2$(-$
("#$5&((#20 $*-=0;$J1("$10+10#2&(-2,N$J1("$0#=2&'$(=K#$;#*#+(,$-*(#0$K#109$("#$C-,($
*2#V=#0($&K0-2C&'1(8$*-=0;N$J1("$+&2;1&+$;#*#+(,$,#+-0;E@>S@GL$%&2C*='$+"#C1+&',$&2#$
0-2C&''8$,(-2#;$10$*&((8$(1,,=#A$10$("#$*-#(=,$("#2#$1,$'1(('#$-2$0-$*&((8$(1,,=#$#O+#5($*-2$
("&($10$("#$K2&10$&0;$0#2I-=,$,8,(#CN$J"1+"$C&8$#O5'&10$("#$5&((#20$-*$;&C&9#L$ $D$
2#I1#J$-*$("1,$,=KM#+($,(&(#;$m01.&7.3410&*/&.)3<.59.&;*3508&0*&65&688*93603*5&'.07..5 &
2.83<.5036+&;2*@3-30(&0*&16:62<*,8&7680.&830.&65<&6<).28.&2.;2*<,903).&*,09*-.8>nE@Y$$
A4>--5&)90%/+)-=%01$-J+&%0&%
k=,(&I,,-0 $ *-=0; $ &0 $ #O+#,, $ -* $ 1,+"&#C1+ $ "#&2( $ ;1,#&,#EXY$ 10 $ 10+10#2&(-2$
J-2P#2,$J"-$"&;$K##0$#O5-,#;$*-2$'-09#2L$$.#$"&I#$0-($*-=0;$&08$#51;#C1-'-91+&'$
,(=;1#,$-*$+&2;1-I&,+='&2$;1,#&,#$10$("#$0#19"K-=2"--;$-*$10+10#2&(-2,N$K=($10$I1#J$-*$
("#$2#,#&2+"$-0$5&2(1+='&(#,$T,##$,#+(1-0$FLEU$("1,$,"-=';$K#$10I#,(19&(#;L
A4A--!"//%#$!"#$&=("-2,$-*$,-C#$-*$("#,#$2#5-2(,$;1;$0-($+-0,1;#2$("&($("#8$"&;$,=**1+1#0($
92-=0;, $ *-2 $ +-0+'=;109 $ ("&( $ ("# $ "#&'(" $ #**#+(, $ 2-=0; $ 10+10#2&(-2, $ J#2# $96,8.<$ K8$
5-''=(1-0 $ *2-C $ ("# $ 10+10#2&(-2,L $ %-J#I#2N $ ,(&(1,(1+&''8 $ ("#12 $ *10;109, $ J#2# $ "19"'8$
,1901*1+&0($&0;N$(&P109$("#$,(=;1#,$(-9#("#2N$1($1,$;1**1+='($(-$K#'1#I#$("&($&''$("#12$2#,='(,$
+-=';$"&I#$K##0$;=#$(-$=02#+-901,#;$+-0*-=0;109$I&21&K'#,L$!"1,$1,$#I#0$'#,,$'1P#'8$
J"#0$8-= $+-0,1;#2$("#$0&(=2#$-*$("#$5-''=(&0(, $2#'#&,#;$*2-C$10+10#2&(-2, $&0;$("#$
,+1#0(1*1+$#I1;#0+#$*-2$("#$"#&'("$#**#+(,$-*$("-,#$+-C5-=0;,$T,##$,#+(1-0,$>$&0;$FUL$
!"#$+-0+-2;&0+#$-*$10+2#&,#;$+&0+#2$10+1;#0+#$10$'-+&'$&2#&,$;#C-0,(2&(#;$(-$K#$C-2#$
5-''=(#;$&',-$5-10(,$(-$&$+&=,&'$&,,-+1&(1-0N$&'("-=9"$1($;-#,$0-($0#+#,,&21'8$1C5'8$("&($
("#$5-''=(&0($C#&,=2#;$+-0(21K=(#;$(-$("#$10+2#&,#L$$
>3
!"#$,(=;1#,$C&8$"&I#$=0;#2#,(1C&(#;$("#$21,P,L$D($EF$8#&2,N$("#$*-''-JS=5$
5#21-;$-*$("#$'&29#$621(1,"$,(=;8$J&,$52-K&K'8$(--$,"-2(A$&($710($R1P'&&,$&;='($+&0+#2$
+&,#,$,##C#;$(-$10+2#&,#$*2-C$EF$8#&2,$-0J&2;$T&'("-=9"$+"1';2#0^,$+&0+#2,$-++=22#;$
#&2'1#2UN$&0;$10$<&5&0N$\"(&$0-(#;$("&($+&0+#2$+&=,#;$3>Z$-*$&''$;#&(",$10$("#$'##$-*$
10+10#2&(-2, $ *2-C $ E3 $ (- $ >3 $ 8#&2, $ &*(#2 $ ("# $ 10+10#2&(-2 $ J&, $ +-CC1,,1-0#;EXFL $ $ !"#$
2#5-2(#; $ 21,P, $ J#2# $ "19"#2 $ 10 $ ("# $ ,(=;1#, $ 10 $ J"1+" $ &''-J&0+# $ J&, $ C&;# $ *-2 $ ("#$
;12#+(1-0$-*$52#I&1'109$J10;,N$5-,,1K'8$K#+&=,#$-*$;1'=(1-0$#',#J"#2#$K8$2#'&(1I#'8$
=0#O5-,#;$5#2,-0,L$
!"#$,(=;1#,$2#I1#J#;$&55'8$(-$("#$-';#2$10+10#2&(-2,A$0#J#2$10+10#2&(-2,$C&8$
"&I#$K#((#2$*1'(#2,$K=($*10#$5&2(1+='&(#,$&0;$C#(&',$&2#$10+-C5'#(#'8$2#C-I#;L$710+#$
,-C# $ -* $ ("#,# $ 5-''=(&0(,N $ 0-(&K'8 $ *10# $ 5&2(1+='&(#,N $ ;- $ 0-( $ &55#&2 $ (- $ "&I# $ & $ ,&*#$
("2#,"-';N$1($1,$+'#&2'8$10+-22#+($(-$+'&1C$("&($10+10#2&(-2,$&2#$,&*#L$!"#$"19"#2$V=&0(1(8$
-* $ (-O1+ $ *'8 $ &," $ 52-;=+#; $ K8 $ C-;#20 $ 10+10#2&(-2,N $ J"1+" $ 1, $ #&,1'8 $ J10;SK-20#N$
2#52#,#0(, $ &0 $ &;;1(1-0&' $ "&W&2;L $ )I#0 $ 1* $ 10+10#2&(-2, $ J#2# $ #V=155#; $ J1(" $ 5#2*#+($
*1'(#2,N$("#12$"=9#$,1W#$&0;$(#0;#0+8$(-$*&='(,$C#&0,$("&($("#$21,P$-*$10(#2C1((#0($"19"$
'#I#',$-*$5-''=(1-0$1,$&$2#&'$+-0+#20L$
!&P109$10(-$&++-=0($("#,#$2#,='(,$&0;$("#$;1**1+='(8$10$1;#0(1*8109$+&=,#,$-*$
+&0+#2, $ &0; $ -("#2 $ +"2-01+ $ ;1,#&,#,N $ 1( $ 1, $ & $ C&((#2 $ -* $ +-0,1;#2&K'# $ +-0+#20 $ ("&($
10+10#2&(-2, $ "&I# $ K##0 $ 10(2-;=+#; $ J1("-=( $ & $ +-C52#"#0,1I# $ ,8,(#C $ (- $ ,(=;8$ ("#12$
"#&'("$#**#+(,N$&0;$("&($*=2("#2$10+10#2&(-2,$&2#$K#109$5'&00#;$J1("-=($+-C52#"#0,1I#$
C-01(-2109$#1("#2$-*$#C1,,1-0,$-2$-*$("#$"#&'("$-*$("#$'-+&'$5-5='&(1-0L
E4--J+&%0&%-5#)+6%#)%-0#6-;"<<*$+"#
E43--!0#)%1
7(=;1#, $ '10P109 $ +&0+#2 $ J1(" $ 10+10#2&(-2, $ +&00-( $ K# $ ,##0 $ 10 $ 1,-'&(1-0L $ /( $ 1,$
1C5-2(&0($(-$-K(&10$&0$-I#2&''$51+(=2#$&0;$'--P$&($-("#2$,(=;1#,$J"1+"$'10P$5-''=(&0(,$
J1("$+&0+#2L$D0;$("#2#$1,$&0-("#2$&,5#+($(-$("1,L$:&08$(85#,$-*$+&0+#2N$10+'=;109$'=09N$
5&0+2#&(1+$&0;$,(-C&+"$+&0+#2N$"&I#$&$I#28$5--2$52-90-,1,$&0;$-=2$-0'8$"-5#$'1#,$10$
52#I#0(1-0L$Q2#I#0(1-0$C#&0,$2#;=+109$-=2$#O5-,=2#$(-$+&2+10-9#01+$,=K,(&0+#,$&0;$
J#$,"-=';$(&P#$#I#28$-55-2(=01(8$(-$;-$("1,L
$$$$$$$$$$$$[&0+#2$"&,$,"-J0$&0$=02#'#0(109$21,#$-I#2$("#$'&,($+#0(=28N$&0;$1,$&**#+(109$
8-=09#2$5#-5'#L$!"#$21,#$"&,$K##0$92&;=&'N$,(#&;8$&0;$2#&'L$[&0+#2$10+1;#0+#$"&,$K##0$
10+2#&,109$K8$EZ$5#2$&00=C$J1("$&0$&9#$,(&0;&2;1W#;$10+2#&,#$10$C-2(&'1(8$-*$3FZ$
K#(J##0$EbG?$&0;$Eb@@E@XL$Q=($&0-("#2$J&8N$("#$+"&0+#$-*$;8109$*2-C$+&0+#2$&($("#$
(=20$-*$("#$>?("$+#0(=28$J&,$E$10$FFL$/($1,$0-J$E$10$3L$.%\$;&(&$"&,$;#C-0,(2&(#;$("&($
@?Z$-*$+&0+#2,$&2#$;=#$(-$#0I12-0C#0(&'$10*'=#0+#,NE@@$ &0;$#I1;#0+#$*2-C$C192&0($
,(=;1#,$+-0*12C,$("&($1($1,$C&10'8$("#$#0I12-0C#0($2&("#2$("&0$("#$9#0#,$("&($;#(#2C10#$
("#$+&0+#2$21,PE@@L$
$
:&08$5#-5'#$"&I#$0-(#;$("&($("#$21,#$10$+&0+#2$"&,$5&2&''#'#;$("#$21,#$10$("#$
52-;=+(1-0$&0;$=,#$-*$,80("#(1+$+"#C1+&',N$&''$("#$C-2#$ 2#C&2P&K'#$,10+#$("#2#$"&,$
K##0$&$,1C='(&0#-=,$'&29#$;2-5$10$,C-P109$10$C&'#,$10$C&08$+-=0(21#,L$/0$("#$,#+-0;$
"&'*$-*$("#$(J#0(1#("$+#0(=28$,80("#(1+$+"#C1+&'$52-;=+(1-0$;-=K'#;$#I#28$X$(-$@$8#&2,$
J1("$&$E??$*-';$10+2#&,#$-I#2$("#$'&,($>$9#0#2&(1-0,E@bL$:&08$+-0I#29109$51#+#,$-*$
#I1;#0+#$'10P$+"#C1+&',$(-$("#$2#'#0('#,,$21,#$-*$+&0+#2L
0X-Q+#M&-:%$_%%#-%(C"&*1%-$"-C"<<*$0#$&-0#6-)0#)%1-+#-/0#
>G
•
•
•
•
[&0+#2 $ 1, $ +-CC-0#,( $ 10 $ 10;=,(21&'1,#; $ +-=0(21#, $ J1(" $ G?Z$ -* $ +&,#, $ 10 $ ("#$
10;=,(21&'1,#; $ >?Z $ -* $ ("# $ J-2';Eb?$ &0; $ ("# $ .%\ $ "&, $ 0-(#; $ ("&( $ +&0+#2$
10+1;#0+#$21,#,$J1("$("#$kRQ$-*$&$+-=0(28L
$ !"#2#$1,$("#$,&C#$+-22#'&(1-0$J1("10$+-=0(21#,L$!"#$"19"#,($C-2(&'1(8$*2-C$
+&0+#2$10$("#$_7D$1,$10$&2#&,$-*$"19"#,($10;=,(21&'1,#;$&+(1I1(8L$!"#2#$1,$&',-$&$
+-22#'&(1-0$10$("#$_7D$K#(J##0$+&0+#2$10+1;#0+#$&0;$("#$0=CK#2$-*$J&,(#$
,1(#,$10$("#$+-=0(8EbENEb>L$[-=0(1#,$J1("$*&+1'1(1#,$*-2$(2#&(109$(-O1+$J&,(#$"&I#$
*-=2$(1C#,$&,$C=+"$K2#&,($+&0+#2EbFL$[&0+#2$1,$&',-$+-CC-0#2$10$+-=0(1#,$J1("$
+"#C1+&' $ 10;=,(21#,Eb3L $ Q=K'1+ $ B&(& $ D++#,, $ 10 $ ("# $ _7D $ ,"-J, $ & $ +'-,#$
+-22#'&(1-0$K#(J##0$+&0+#2$C-2(&'1(8$&0;$#0I12-0C#0(&'$+-0(&C10&(1-0EbGL$
R=C#2-=, $ ,(=;1#, $ "&I# $ ,"-J0 $ "19"#2 $ +&0+#2 $ 10+1;#0+# $ 10 $ K-(" $ 10;=,(21&'$
J-2P#2,$&0;$10$5-5='&(1-0,$'1I109$10$5-''=(#;$&2#&,LEbYNEbX$
\0#$-*$("#$("2##$C-,($2&51;'8$21,109$+&0+#2,N$0-0S%-;9P10^,$'8C5"-C&N$"&,$
K##0 $ +'#&2'8 $ '10P#; $ J1(" $ #O5-,=2# $ (- $ +#2(&10 $ +"#C1+&', $ T*-2 $ 10,(&0+#$
5"#0-O8"#2K1+1;#,$&0;$+"'-2-5"#0-',ULEb@NEbb
:X-Q+#M&-:%$_%%#-%(C"&*1%-$"-C"<<*$0#$&-0#6-)0#)%1-+#-0#+/0<&
$
!"2## $ ;#+&;#, $ -*$ ,(=;1#, $-* $+&0+#2, $ 10 $J1';'1*# $"&I# $ ,"-J0 $("&( $("#,# $ &2#$
10(1C&(#'8 $ &,,-+1&(#; $ J1(" $ #0I12-0C#0(&' $ +-0(&C10&(1-0L $ !"1, $ 1, $ 5&2(1+='&2'8$
1C5-2(&0($&,$&01C&',$;-$0-($,C-P#N$;210P$-2$#&($M=0P$*--;$&0;$+&00-($K#$&++=,#;$-*$
'1I109 $ 10 $ ;#521I#; $ &2#&,L $ !"1, $ ,(2#09("#0, $ ("# $ '-09S,=,5#+(#; $ '10P $ K#(J##0$
#0I12-0C#0(&'$5-''=(1-0$&0;$+&0+#2L$/0$&$2#+#0($,(=;8$-*$-=(K2#&P,$-*$'1I#2$+&0+#2$10$
EY$;1**#2#0($,5#+1#,$-*$*1,"$&($>G$;1**#2#0($,1(#,N$+&0+#2,$J#2#$&'J&8,$&,,-+1&(#;$J1("$
#0I12-0C#0(&'$+-0(&C10&(1-0>??L$B-9,$"&I#$K##0$*-=0;$(-$"&I#$"19"#2$2&(#,$-*$K'&;;#2$
+&0+#2$10$10;=,(21&'1,#;$+-=0(1#,$10$("#$_7D>?EL$/($1,$10+-0+#1I&K'#$("&($J#$&2#$0-($
&**#+(#;$10$("#$,&C#$J&8L $]=2("#2C-2#$+&0+#2$2&(#,$10$&01C&',$2&51;'8$;#+'10#$J"#0$
("# $ 5-''=(&0(, $ &2# $ 2#C-I#; $ ,"-J109 $ ("# $ +21(1+&' $ 1C5-2(&0+# $ -* $ &0 $ =0+-0(&C10&(#;$
#0I12-0C#0($*-2$9--;$"#&'("L>?>$$
)X-Q01@%-+#)1%0&%&-+#-)0#)%1-+#-)%1$0+#-$+&&*%&
7(##5 $ 21,#, $ 10 $ +&0+#2 $ "&I# $ -++=22#; $ 10 $ (1,,=#, $ ;12#+('8 $ #O5-,#; $ (- $ ("#$
#0I12-0C#0(A$("#$'=09$&0;$,P10L$6=($,-C#$-*$("#$,(##5#,($21,#,$"&I#$-++=22#;$10$5&2(,$
-*$("#$K-;8$J1("$"19"$*&($+-0(#0(N$10+'=;109$+&0+#2,$-*$("#$K2&10N$K2#&,(N$K-0#$C&22-J$
&0;$'1I#2L$!"1,$&9&10$5-10(,$(-$(-O1+$+"#C1+&',$J"1+"$&2#$52#;-C10&0('8$,(-2#;$10$("#$
*&((8$(1,,=#,L
6X-N%#%$+)-/*$0$+"#
:&08$+"#C1+&',$&2#$P0-J0$(-$&((&+"$(-$BRD$+&=,109$9#0#(1+$+"&09#$10$("#$
*-2C$-*$BRD$&;;=+(,L$!"#$2#,#&2+"$-*$C-'#+='&2$#51;#C1-'-91,(N$B2$]2#;#21+&$Q#2#2&N$
-* $ [-'=CK1& $ [#0(2# $ *-2 $ ["1';2#0^, $ )0I12-0C#0(&' $ %#&'("N $ "&, $ ,"-J0 $ +-0,1,(#0($
&,,-+1&(1-0,$K#(J##0$#O5-,=2#,$(-$5-''=(1-0$&0;$BRD$&;;=+($*-2C&(1-0$-0$("#$-0#$
"&0;$&0;$&;;=+($*-2C&(1-0$&0;$+&0+#2$21,P$-0$("#$-("#2>?FN>?3L$Q#2#2&$*-=0;$(J-$(-$
("2##$(1C#,$("#$'#I#'$-*$BRD$&;;=+(,$(-$5-'8+8+'1+$&2-C&(1+$"8;2-+&2K-0,$10$5#-5'#$
10$5-''=(#;$&2#&,$&0;$&',-$*-=0;$"19"#2$'#I#',$-*$&;;=+(,$10$5#-5'#$J1("$'=09$+&0+#2$
("&0$10$("-,#$J1("-=(L$ $:-("#2,$#O5-,#;$(-$5-''=(1-0$*-2C$BRD$&;;=+(,$K=($("#12$
K&K1#,$"&I#$#I#0$"19"#2$&;;=+($'#I#',$5-(#0(1&''8$5=((109$("#C$&($10+2#&,#;$21,P$-*$
+&0+#2$*2-C$K12("33L$
%X-!0#)%1&-0#6-'#,+1"#/%#$0<-C"<<*$+"#
>Y
7#I#2&' $ ,(=;1#, $ "&I# $ &'2#&;8 $ 91I#0 $ ;12#+( $ #I1;#0+# $ -* $ & $ '10P $ K#(J##0$
#0I12-0C#0(&'$5-''=(1-0$&0;$+&0+#2L$!"#,#$10+'=;#$("#$H-09$/,'&0;$7(=;8$,"-J109$&$
'10P$K#(J##0$&12K-20#$+&2+10-9#0,$&0;$K2#&,($+&0+#2>?GN>?Y$&0;$("#$_55#2$[&5#$7(=;8$
,"-J109$("&($(#(2&+"'-2-#("8'#0#$10$("#$J&(#2$J&,$&,,-+1&(#;$J1("$#'#I&(#;$2&(#,$-*$
,#I#2&'$(85#,$-*$+&0+#2>?XSbL$/($1,$0-(#J-2("8$("&($101(1&'$10I#,(19&(1-0,$J#2#$0#9&(1I#$10$
K-("$("#,#$5'&+#,$&0;$1($J&,$-0'8$;#C-0,(2&(#;$&*(#2$;#(&1'#;$&0;$,-5"1,(1+&(#;$,(=;1#,$
K8$,+1#0(1,(,$*2-C$C&08$*1#';,L$R=C#2-=,$-("#2$,(=;1#,$"&I#$,"-J0$'10P,$K#(J##0$
+&0+#2$&0;$+"#C1+&',A$("#,#$10+'=;#$&,,-+1&(1-0,$K#(J##0$I-'&(1'#$-29&01+$+"#C1+&',$
Td\[,U $ 10 $ ("# $ J&(#2 $ &0; $ 10+2#&,#, $ 10 $ '#=P&#C1& $ 10 $ R#J $ <#2,#8>E?N $ 10+2#&,#, $ 10$
'8C5"-C& $ 10 $ +-=0(1#, $ 10 $ /-J& $ J"#2# $ ;210P109 $ J&(#2 $ J&, $ +-0(&C10&(#; $ J1("$
;1#';210>EEN $ #'#I&(#; $ '#I#', $ -* $ '#=P&#C1& $ 10 $ +"1';2#0 $ &( $ .-K=20N $ :&,,&+"=,#((,$
+-10+1;109$J1("$&$P0-J0$5#21-;$-*$J&(#2$+-0(&C10&(1-0$J1("$+"'-210&(#;$,-'I#0(,>E>N$&$
+&0+#2$+'=,(#2$'10P#;$(-$+-0,=C5(1-0$-*$21I#2$J&(#2$+-0(&C10&(#;$K8$10;=,(21&'$&0;$
&921+='(=2&'$+"#C1+&',$10$680=CN$R-2("$[&2-'10&>EF$&0;$"19"$2&(#,$-*$0-0S%-;9P10^,$
'8C5"-C&$*2-C$J&(#2$+-0(&C10&(1-0$J1("$+"'-2-5"#0-',$10$]10'&0;>E3L$$
8X-.C1%06-"8-)0#)%1-0#6-C"<<*$0#$&
D12K-20#$5-''=(&0(,$0-($-0'8$&**#+($("#$+"&0+#$-*$+-0(2&+(109$+&0+#2$K=($C&8$
&',- $ 10*'=#0+# $ ("# $ +"&0+# $ -* $ ("# $ +&0+#2 $ ,52#&;109L $ D01C&' $ ,(=;1#, $ ,"-J#; $ ("&($
10"&'&(1-0$-*$&CK1#0($'#I#'$01(2-9#0$;1-O1;#N$-2$5-''=(#;$=2K&0$&CK1#0($&12N$*&+1'1(&(#;$
K'--;SK-20#$+&0+#2$+#''$C#(&,(&,1,E?GL$
@X-Q%,%<&-"8-!01)+#"@%#&-+#-$9%-:"62!"#$2#&'1(8$&K-=($C-,($+"#C1+&',$1,$("&($("#12$21,P,$&2#$'&29#'8$=0P0-J0L$!"1,$
1,$5&2(1+='&2'8$(2=#$-*$+"#C1+&',$0#J$(-$("#$C&2P#(L$."&($J#$;-$P0-J$1,$("&($&K-=($G$
(- $ E?Z $ &2# $ 52-K&K'# $ +&2+10-9#0,L $ !"# $ /0(#20&(1-0&' $ D9#0+8 $ *-2 $ [&0+#2 $ 4#,#&2+"$
(#,(#;$E???$+"#C1+&',$10$EbbF$&0;$*-=0;$("&($EE?$J#2#$52-K&K'#$+&2+10-9#0, >EGL$!"#$
R&(1-0&'$!-O1+1(8$Q2-92&C$(#,(#;$3??$+"#C1+&',$10$EbbG$&0;$*-=0;$("&($GSE?Z$J#2#$
+&2+10-9#01+>EYL$\0'8$>??$-*$("#$XGN???$,80("#(1+$+"#C1+&',$10$#O1,(#0+#$&2#$2#9='&(#;$
&,$+&2+10-9#0,$J"#2#&,N$*2-C$("1,$;&(&N$K#(J##0$FN???$&0;$XNG??$C19"($K#$#O5#+(#;$(-$
K#L$.#$"&I#$#I#0$'#,,$P0-J'#;9#$&K-=($("#$+&2+10-9#01+$5-(#0(1&'$-*$+-CK10&(1-0,$-*$
(-O1+$+"#C1+&',$K=($J"&($#I1;#0+#$J#$;-$"&I#$,=99#,(,$+-CK10&(1-0,$C&8$K#$C-2#$
;&09#2-=,$&0;$8#($("#,#$&2#$J"&($J#$&2#$2-=(10#'8$#O5-,#;$(-L$
D'("-=9"$("#$_`$*19=2#,$&2#$0-($&I&1'&K'#$J#$P0-J$("&($>L>Y$K1''1-0$5-=0;,$-*$
(-O1+$+"#C1+&',$J#2#$2#'#&,#;$10$("#$_7D$10$Ebb3A$&K-=($EXX$C1''1-0$5-=0;,$-*$("#,#$
J1''$"&I#$K##0$,=,5#+(#;$+&2+10-9#0,L$6=($J"&($"&55#0,$(-$&''$("#,#$+"#C1+&',j$!"#$
2#&'1(8$1,$("&($C=+"$-*$("1,$+"#C1+&'$5-''=(1-0$#0;,$=5$10,1;#$=,L$!"#$#I1;#0+#$*-2$("1,$
1,$&,$*-''-J,AS
/0 $ & $ ,(=;8N $ & $ 92-=5 $ -* $ C1;;'# $ &9#; $ DC#21+&0, $ J#2# $ *-=0; $ (- $ "&I# $ EXX$
-29&0-+"'-210#$2#,1;=#,$10$("#12$K-;1#,L>EXN>E@$!"1,$1,$'1P#'8$(-$K#$&0$=0;#2#,(1C&(#$&,$
)QD$,+1#0(1,(,$+-0,1;#2$("&($("#$*&((8$(1,,=#,$-*$("#$_7$9#0#2&'$5-5='&(1-0$+-0(&10$
-I#2$X??$&;;1(1-0&'$+-0(&C10&0(,$("&($"&I#$0-($8#($K##0$+"#C1+&''8$+"&2&+(#21W#;>EbL$
D$2#+#0($,(=;8$K8$("#$:-=0($710&1$7+"--'$-*$:#;1+10#$C#&,=2#;$+"#C1+&',$10$("#$
K'--;$&0;$=210#$-*$"#&'("8$I-'=0(##2,$&0;$*-=0;$&0$&I#2&9#$-*$G>$+&2+10-9#0,N$Y>$
+"#C1+&',$(-O1+$(-$("#$K2&10$&0;$0#2I-=,$,8,(#C$&0;$GG$+"#C1+&',$&,,-+1&(#;$J1("$
K12("$;#*#+(,>>?L$!"#8$5-10($-=($("&($("#,#$J#2#$+"#C1+&',$("&($+-=';$K#$C#&,=2#;$&0;$
("&( $ ("#2# $ J#2# $ C&08 $ C-2# $ ("&( $ +-='; $ 0-(N $ C&P109 $ ("1, $ &9&10 $ & $ +-0,1;#2&K'#$
=0;#2#,(1C&(#L$D$,(=;8$-*$5-''=(&0(,$10$&C01-(1+$*'=1;$*-=0;$;#(#+(&K'#$'#I#',$-*$Q[6,$
&0;$5#,(1+1;#,$&($'#I#',$#V=1I&'#0($(-$("#$*-#(=,^,$-J0$,#O$"-2C-0#,>>EL$."&( $("#,#$
,(=;1#,$;#C-0,(2&(#$1,$("&($J"&($J#$5=($-=($10(-$("#$J-2';$,--0#2$-2$'&(#2$+-C#,$K&+P$
>X
(-$=,$&0;$J1''$K#$,(-2#;$10$-=2$K-;1#,N$5&2(1+='&2'8$("#$'15-5"1'1+N$K1-&++=C='&(1I#$
+-C5-=0;,$J"1+"$&2#$5&2(1+='&2'8$;&C&9109L$!"1,$#**#+($1,$,'-JN$10,1;1-=,$&0;$2#&'L$
!-$&''-J$+&2+10-9#0,$&0;$-("#2$5-1,-0-=,$,=K,(&0+#,$10(-$-=2$K-;1#,$10$("1,$J&8$C=,($
K#$(-$9&CK'#$J1("$-=2$"#&'("L
$ /0+10#2&(-2, $ #C1( $ +&2+10-9#0,L $ Q&2(1+='&(#, $ ("#C,#'I#, $ &2# $ P0-J0 $ (- $ K#$
+&2+10-9#01+N$C&08$"#&I8$C#(&',$&2#$P0-J0$-2$,=,5#+(#;$+&2+10-9#0,N$=5$(-$E?Z$-*$
("# $ +"#C1+&' $ 5-''=(&0(, $ &2# $ +&2+10-9#01+ $ &0; $ ("#2# $ 1, $ &K=0;&0( $ #I1;#0+# $ ("&($
+&2+10-9#0,$&2#$*&2$C-2#$;&09#2-=,$J"#0$+-CK10#;$("&0$J"#0$10$1,-'&(1-0L$
[-CC-0$,#0,#$;1+(&(#,$("&($1($1,$2#+P'#,,$(-$+-0(10=#$(-$5-=2$C-2#$+&2+10-9#0,$
10(-$("#$&12$&($&$(1C#$J"#0$+&0+#2$1,$,(#&;1'8$10+2#&,109L$4#+#0($,(=;1#,$,=99#,($("&($
J#$&'2#&;8$"&I#$(-$+-5#$J1("$YG$+&2+10-9#0,$10$*--;N$3?$+&2+10-9#0,$10$J&(#2$&0;$Y?$
+&2+10-9#0,$10$("#$&12$J#$K2#&("#>>>L$!"#8$,"-=';$0-($K#$("#2#$&($&''L$!"#8$,"-=';$
+#2(&10'8$0-($K#$10+2#&,#;L$/*$J#$,#21-=,'8$J&0($(-$52#I#0($+&0+#2$1($1,$-*$5&2&C-=0($
1C5-2(&0+#$("&($J#$2&51;'8$;#+2#&,#$("#$'#I#',$-*$&''$+&2+10-9#0,$("&($J#$&2#$#O5-,#;$
(-L$
E47--?%*1"<"@+)0<-J+&%0&%
:-,($(-O1+$+-C5-=0;,$&2#$52#*#2#0(1&''8$,(-2#;$10$*&((8$(1,,=#$&0;$("1,$10+'=;#,$
("# $ K2&10 $ a $ C&P109 $ ("# $ K2&10 $ & $ P#8 $ (&29#( $ -29&0 $ *-2 $ 5-''=(&0(,L $ !"#2# $ 1, $ 0-J$
+-C5#''109 $ #I1;#0+# $ ("&( $ "#&I8 $ C#(&', $ &0; $ -("#2 $ +-C5-=0;, $ ,=+" $ &, $ Q[6, $ &0;$
;1-O10,$+&=,#$+-901(1I#$;#*#+(,N$'#&20109$52-K'#C,$&0;$K#"&I1-=2&'$;1,(=2K&0+#,$10$
+"1';2#0 $ &0; $ ("#,# $ #**#+(, $ -++=2 $ &( $ '#I#', $ 52#I1-=,'8 $ ("-=9"( $ (- $ K# $ ,&*#>>FL $ /( $ 1,$
10+-0+#1I&K'#$("&($("#,#$,&C#$5-''=(&0(,$"&I#$0-$1C5&+($-0$&;='($K2&10$*=0+(1-0L$/0$
*&+(N $,-C# $ -29&0-+"'-210#,N $ #,5#+1&''8$("-,#$J1(" $(-O1+ $C#(&K-'1(#, $&0; $("-,#$("&($
;1,,-'I#$10$("#$+#''$C#CK2&0#,$&2#$P0-J0$(-$P1''$K2&10$+#'',L>>3N>>G$ .#$0-(#$&',-$("#$
&K1'1(8$-*$='(2&*10#$5&2(1+='&(#,$(-$+&228$5-''=(&0(,$&+2-,,$("#$K'--;SK2&10$K&221#2YGL$/*$
0#=2-0#,$J#2#$'-,($&($("#$=0;#(#+(&K'#$2&(#$-*$?LEZ$&00=&''8$("1,$J-=';$'#&;$(-$&$
C&M-2$;#+'10#$10$K2&10$*=0+(1-0$K8$C1;;'#$&9#>>YL$
$\*$92#&($+-0+#20$1,$("#$;#I#'-5109$+21,1,$-*$D'W"#1C#2^,$;1,#&,#$J"1+"$0-J$
&**#+(,$3LG$C1''1-0$5&(1#0(,$10$("#$_7D$&0;$0#&2'8$X??N???>>X$ 10$("#$_`L$!"1,$1,$&$
;1,#&,#$J"1+"$"&;$0#I#2$K##0$;1&90-,#;$=0(1'$Eb?X$&0;$10$("#$_`$"&;$-0'8$2#&+"#;$
EG?$+&,#,$K8$Eb3@L$D($("#$52#,#0($2&(#$-*$10+2#&,#N$("#$0=CK#2,$J1''$;-=K'#$K8$>?F?L$
!"#,# $ ,(&(1,(1+, $ &2# $ &'&2C109 $ K=( $ 0##; $ (- $ K# $ ,##0 $ &, $ 5&2( $ -* $ &0 $ -I#2&'' $ (2#0; $ -*$
10+2#&,109 $ 0#=2-'-91+&' $ ;1,#&,#L $ D $ 2#+#0( $ ,(=;8 $ "&, $ 0-(#; $ ,=K,(&0(1&' $ 10+2#&,#, $ 10$
0#=2-'-91+&' $ ;1,#&,#, $ 10 $ ("# $ '&,( $ (J- $ ;#+&;#, $ +-=5'#; $ J1(" $ #&2'1#2 $ -0,#( $ -* $ ("#,#$
1''0#,,#,L$/0+2#&,#,$J#2#$0-(#;$10$D'W"#1C#2^,$;1,#&,#N$Q&2P10,-0^,$;1,#&,#$&0;$C-(-2$
0#=2-0# $ ;1,#&,#>>@L $ !"# $ 10+2#&,# $ 10 $ D'W"#1C#2^, $ ;1,#&,# $ J&, $ *-=0; $ 10 $ &'C-,( $ &''$
;#I#'-5#;$+-=0(21#,N$&0;$21,#,$I&21#;$&+2-,,$+-=0(21#,$*2-C$>?Z$TJ"1+"$J&,$;#*10#;$
&,$,=K,(&0(1&'U$(-$E>??ZL$!"#$5&5#2$,=99#,(#;$#0I12-0C#0(&'$*&+(-2,$J#2#$'1P#'8$(-$K#$
2#,5-0,1K'#L$$
/($1,$0-(&K'#$("&($("#,#$;1,#&,#,$-*$-';#2$5#-5'#$"&I#$10+2#&,#;$&($("#$,&C#$(1C#$
("&($;1,#&,#,$&**#+(109$("#$K2&10$T10+'=;109$DB%BN$&=(1,C$&0;$'#&20109$;1**1+='(1#,U$
"&I#$&',-$,"-J0$'&29#$10+2#&,#,$&($("#$-("#2$#0;$-*$("#$&9#$,5#+(2=CN$(-$("#$-2;#2$-*$
>??SEX??Z>>bL $ /( $ 1, $ I#28 $ '1P#'8 $ ("&( $ ("#,# $ ;1,#&,#, $ "&I# $ &#(1-'-91+&' $ *&+(-2, $ 10$
+-CC-0L$$
%#&I8 $ C#(&' $ #O5-,=2# $ 1, $ P0-J0 $ (- $ +-22#'&(# $ J1(" $ K-(" $ Q&2P10,-0^,$
E?FN>F?
$ &0; $ D'W"#1C#2^, $ ;1,#&,#XGNXYNb@SE?>L $ 6-(" $ ;1,#&,#, $ "&I# $ 10+2#&,#;$
;1,#&,#
;2&C&(1+&''8$-I#2$("#$'&,($F?$8#&2,L$/0$&;;1(1-0$J#$"&I#$&'2#&;8$0-(#;$("&($("#$&I#2&9#$
5#2,-0^,$K-;8$+-0(&10,$&($'#&,($Y>$+"#C1+&',$J"1+"$&2#$(-O1+$(-$("#$K2&10$&0;$0#2I-=,$
,8,(#C>>?L$/($1,$+2=+1&'$(-$'--P$&($#I#28$5-,,1K'#$J&8$(-$52#I#0($D'W"#1C#2^,$K#+&=,#$-*$
>@
1(,$"=9#$+&2#$+-,(,$T_7$*19=2#,$&2#$hY?$K1''1-0$&00=&''8U$&0;$K#+&=,#$-*$1(,$;12#$#**#+($
-0$K-("$5&(1#0(,$&0;$+&2#2,L$
D'("-=9" $ C='(15'# $ *&+(-2, $ &2# $ 52-K&K'8 $ 10I-'I#; $ 10 $ 1(, $ +&=,&(1-0N $ ("#2# $ 1,$
#I1;#0+#$-*$&$'10P$(-$"#&I8$C#(&'$#O5-,=2#$&0;$1($1,$("#2#*-2#$1C5#2&(1I#$(-$2#;=+#$-=2$
#O5-,=2#$(-$("#,#$(-O1+$C#(&',$&0;$-("#2$0#=2-(-O1+$+"#C1+&',$K8$&''$C#&0,$5-,,1K'#L$
!- $ ;#'1K#2&(#'8 $ 10+2#&,# $ -=2 $ #O5-,=2# $ (- $ ("#,# $ 5-''=(&0(,N $ &( $ & $ (1C# $ J"#0 $ ("#,#$
;1,#&,#,$&2#$,"-J109$"=9#$10+2#&,#,N$,"-J,$&$J-228109$'&+P$-*$*-2#,19"(L$
E4>--H%#$0<-J+&%0&%&
:&08$5-''=(&0(, $5&,,$,(2&19"($*2-C$("#$0-,#$(-$("#$K2&10$J"#2#$("#8$&**#+($
K2&10$*=0+(1-0L$D12$5-''=(1-0$+-22#'&(#,$J1("$105&(1#0($&;C1,,1-0,$J1("$-29&01+$K2&10$
,80;2-C#N$,+"1W-5"2#01&N$C&M-2$&**#+(1I#$;1,-2;#2,N$0#=2-,1,N$K#"&I1-=2&'$;1,-2;#2$-*$
+"1';"--;$&0;$&;-'#,+#0+#N$5#2,-0&'1(8$;1,-2;#2$&0;$&'+-"-'1,C>FEL$/0+2#&,#,$10$("#$
(-(&'$0=CK#2$-*$5,8+"1&(21+$#C#29#0+8$2--C$I1,1(,$&0;$10$,+"1W-5"2#01&>F>$"&I#$K##0$
0-(#;$-0$;&8,$J"#0$&12$5-''=(1-0$"&,$K##0$"19"L$B#52#,,1-0$"&,$&',-$K##0$'10P#;$(-$
10"&'#;$5-''=(&0(,>FFN>F3L$['#&2'8$,-C#("109$I#28$52-*-=0;$-++=2,$J"#0$J#$5-''=(#$("#$
&12L
$
E4A--K+"<%#)%-0#6-!1+/%
$ D0 $ 10+2#&,109 $ 0=CK#2 $ -* $ ,(=;1#,N $ 10+'=;109 $ ,(=;1#, $ -* $ C=2;#2#2, >FGN $ +&,#S
+-0(2-'$&0;$+-22#'&(1-0$,(=;1#,EFNb3N>FYN>FX$&0;$52-,5#+(1I#$,(=;1#,bYN>F@$"&I#$,"-J0$'10P,$
K#(J##0$I1-'#0+#$&0;$"#&I8$C#(&',$&0;$("#,#$10+'=;#$'#&;N$+&;C1=C$&0;$C&09&0#,#L$
!"#$C&M-21(8$-*$("#$,(=;1#,$"&I#$10I#,(19&(#; $'#&;L$d1-'#0+#$&0;$+21C#$"&I#$K##0$
&,,-+1&(#;$J1("$K-("$10+2#&,#;$K-;8$'#I#',$-*$'#&;$&0;$J1("$10+2#&,#;$'#I#',$-*$'#&;$10$
("# $ &12L $ ]-2 $ 10,(&0+# $ B#00->Fb$ *-=0; $ #&2'8 $ '#&; $ #O5-,=2# $ J&, $ -0# $ -* $ ("# $ C-,($
1C5-2(&0($52#;1+(-2,$-*$;1,+15'10&28$52-K'#C,$*2-C$&9#,$EF$(-$E3N$;#'10V=#0+8$*2-C$
&9#,$X$(-$EX$&0;$&;='($+21C10&'$-**#0+#,N$*2-C$&9#,$E@$(-$>>L$7(2#(#,P8$*-=0;$&0$
&,,-+1&(1-0$K#(J##0$&12$'#&;$'#I#',$&0;$C=2;#2$2&(#,$10$_7$+-=0(1#,>3?L$/($1,$10(#2#,(109$
("&($&12$'#&;$'#I#',$J#2#$&$C=+"$,(2-09#2$52#;1+(-2$-*$K-("$I1-'#0($&0;$52-5#2(8$+21C#$
("&0$=0#C5'-8C#0(N$J"1+"$"&,$-*(#0$K##0$+-0,1;#2#;$&0$1C5-2(&0($+&=,#$*-2$+21C# >3EL$
!"# $ '1P#'8 $ C#+"&01,C $ 1, $ ("&( $ ("#,# $ ,=K,(&0+#, $ &'(#2 $ 0#=2-(2&0,C1((#2, $ ,=+" $ &,$
;-5&C10#$&0;$,#2-(-010$&0;$2#;=+#$1C5=',#$+-0(2-'L$
!"1, $ 92-J109 $ '1(#2&(=2# $ ,"-='; $ ,#2I# $ &, $ & $ J&20109 $ &K-=( $ ("# $ ;&09#2, $ -*$
&''-J109$"#&I8$C#(&',$(-$K#$#C1((#;$10(-$("#$#0I12-0C#0(L$[21C#N$#,5#+1&''8$I1-'#0($
+21C#N$+&0$"&I#$&$;2&C&(1+$#**#+($-0$5#-5'#^,$V=&'1(8$-*$'1*#L$.#$0##;$(-$+-0,1;#2$("#$
#**#+($-*$10+10#2&(-2,N$0-($-0'8$-0$"#&'("N$K=($-0$#;=+&(1-0$&0;$-0$V=&'1(8$-*$'1*#N$
10+'=;109$("#$1C5&+($-*$I1-'#0+#$&0;$+21C#L$
F4--=+@9-L+&M-N1"*C&
YLE -O9%-Z"%$*&
!"#$=0K-20$+"1';$1,$("#$C-,($I='0#2&K'#$C#CK#2$-*$("#$"=C&0$5-5='&(1-0L$!"#$
*-#(=, $ 1, $ =01V=#'8 $ ,=,+#5(1K'# $ (- $ (-O1+ $ ;&C&9# $ &0; $ #&2'8 $ #O5-,=2#, $ +&0 $ "&I# $ '1*#$
+"&09109$+-0,#V=#0+#,L$."8$1,$("#$*-#(=,$,-$I='0#2&K'#j$!"#2#$&2#$(J-$C&10$2#&,-0,L$
]12,('8$C-,($-*$("#,#$+"#C1+&',$&2#$*&($,-'=K'#L$!"#$*-#(=,$"&,$I12(=&''8$0-$52-(#+(1I#$
*&($,(-2#,$=0(1'$I#28$'&(#$52#90&0+8$,-$("#$+"#C1+&',$&2#$,(-2#;$10$("#$-0'8$*&((8$(1,,=#,$
1($"&,N$0&C#'8$ 1(,$-J0$ 0#2I-=, $,8,(#C $&0;$5&2(1+='&2'8 $("#$K2&10L$7#+-0;'8$C&08$
5-''=(&0(,$&2#$&+(1I#'8$(2&0,5-2(#;$&+2-,,$("#$5'&+#0(&$*2-C$("#$C-("#2$(-$("#$*-#(=,L$
!"1,$-++=2,$J1("$"#&I8$C#(&',$J"1+"$("#$K-;8$C1,(&P#,$*-2$#,,#0(1&'$C10#2&',L$!"1,$1,$
>b
5&2(1+='&2'8$+21(1+&'$*-2$C#2+=28$J"#2#$-0#$(#0("$-*$J-C#0$&'2#&;8$"&I#$K-;8$,(-2#,$
-*$C#2+=28$J"1+"$+&0$'#&;$(-$0#=2-;#I#'-5C#0(&'$52-K'#C,$10$("#$0#JK-20 >3>L$\("#2$
*&+(-2,$("&($10+2#&,#$*-#(&'$,=,+#5(1K1'1(8$&2#$"19"#2$2&(#,$-*$+#''$52-'1*#2&(1-0N$'-J#2$
1CC=0-'-91+&'$+-C5#(#0+#$&0;$;#+2#&,#;$+&5&+1(8$(-$;#(-O1*8$+&2+10-9#0,$&0;$2#5&12$
BRD>3FL
7&*#(8 $ '1C1(, $ +=22#0('8 $ ;- $ 0-( $ (&P# $ 10(- $ &++-=0( $ ("1, $ 10+2#&,#; $ 21,P $ (- $ ("#$
*-#(=,L$\0'8$XZ$-*$"19"$I-'=C#$+"#C1+&',$"&I#$K##0$(#,(#;$*-2$0#=2-;#I#'-5C#0(&'$
(-O1+1(8>33$&0;$I#28$*#J$5-''=(&0(,$"&I#$K##0$(#,(#;$*-2$(#2&(-9#01+1(8L$
B=2109$&$0&22-J$J10;-J$-*$(1C#N$10$("#$*12,($E>$J##P,$10$=(#2-N$("#$*-#(=,^,$
K-;8$1,$&**#+(#;$K8$C101,+='#$&C-=0(,$-*$"-2C-0#$C#&,=2#;$10$5&2(,$5#2$(21''1-0L$!108$
&C-=0(,$-*$+"#C1+&',$+&0$=5,#($("1,$;#'1+&(#$K&'&0+#L$/($1,$0-J$9#0#2&''8$&++#5(#;$("&($
+"#C1+&',$("&($&2#$0-($(-O1+$(-$&0$&;='($+&0$"&I#$;#I&,(&(109$#**#+(,$-0$("#$0#JK-20L$
Q-2(#2*1#';$"&,$,"-J0$("&($,C&''$&C-=0(,$-*$+"#C1+&',$,=+"$&,$;1-O10,$&0;$Q[6,N$&($
;-,#, $ ("&( $ &2# $ 0-( $ 0-2C&''8 $ 2#9&2;#; $ &, $ (-O1+N $ +&0 $ &**#+( $ ("82-1; $ "-2C-0#, $ &0;$
0#=2-'-91+&' $ ;#I#'-5C#0(EEL $ D $ ,109'# $ #O5-,=2# $ 1, $ #0-=9" $ &0; $ (1C109 $ 1, $ +21(1+&'>3GL$
7C&''$;-,#,$-*$-#,(2-9#01+$+"#C1+&',$+&0$&'(#2$,#O=&'$;#I#'-5C#0($-*$("#$K2&10$&0;$
("#$#0;-+210#$,8,(#C>3YL$
/( $ 1, $ #,(1C&(#; $ ("&( $ GZ $ -* $ K&K1#, $ K-20 $ 10 $ ("# $ _7D $ "&I# $ K##0 $ #O5-,#; $ (-$
,=**1+1#0($5-''=(&0(,$(-$&**#+($0#=2-'-91+&'$;#I#'-5C#0(>3XL$ $/($"&,$&',-$K##0$,"-J0$
("&( $ #O5-,=2# $ (- $ -#,(2-9#01+ $ +"#C1+&', $ &**#+(, $ 1CC=01(8N $ 2#;=+#, $ ("# $ 1CC=0#$
2#,5-0,# $ (- $ I&++10#,N $ &0; $ 1, $ &,,-+1&(#; $ J1(" $ & $ "19" $ 10+1;#0+# $ -* $ C1;;'# $ #&2 $ &0;$
2#+=22#0( $ 2#,512&(-28$ 10*#+(1-0,>3@L $ !"# $ &C-=0( $ -* $ +"#C1+&' $ ("&( $ ("# $ K&K8 $ (&P#, $ 10$
2#'&(#,$(-$("#$(-(&'$5#2,1,(#0($+-0(&C10&0(,$("&($"&I#$K=1'($=5$10$("#$C-("#2^,$*&($-I#2$
"#2 $ '1*#(1C#>3bL $ !"1, $ J1'' $ 10+2#&,# $ 10 $ &2#&, $ &2-=0; $ 10+10#2&(-2,L $ )O5-,=2# $ (- $ *10#$
5&2(1+='&(#$5-''=(1-0$;=2109$52#90&0+8$+&0$"&I#$&0$&;I#2,#$#**#+($-0$("#$;#I#'-5109$
*-#(=,$&0;$'#&;$(-$1C5&12#;$*-#(&'$92-J("X3L$
/0 $ <='8 $ >??GN $ 10 $ & $ 92-=0;SK2#&P109 $ ,(=;8>G?N $ 2#,#&2+"#2, $ &( $ (J- $ C&M-2$
'&K-2&(-21#,$10$("#$_7D$'--P#;$&($("#$K-;8$K=2;#0$10$("#$*-#(=,L$!"#8$2#5-2(#;$&0$
&I#2&9#$-*$>??$10;=,(21&'$+"#C1+&',$&0;$5-''=(&0(,$T-=($-*$3EF$(#,(#;U$10$("#$=CK1'1+&'$
+-2; $ K'--; $ -* $ E? $ 2&0;-C'8 $ +"-,#0 $ K&K1#,L $ !"#,# $ 10+'=;#; $ E@? $ +&2+10-9#0,N $ >EX$
+"#C1+&',$("&($&2#$(-O1+$(-$("#$K2&10$&0;$0#2I-=,$,8,(#C$&0;$>?@$("&($+&0$+&=,#$K12("$
;#*#+(, $ &0; $ &K0-2C&' $ ;#I#'-5C#0( $ 10 $ &01C&',L $ D $ ,(&(#C#0( $ K8 $ ,+1#0(1,(, $ &0;$
5&#;1&(21+1&0, $,&1;$("&($("#$2#5-2($2&1,#;$1,,=#,$-*$,=K,(&0(1&'$1C5-2(&0+#$(-$5=K'1+$
"#&'("N$,"-J#;$=5$9&5109$"-'#,$10$("#$9-I#20C#0(^,$,&*#(8$0#($&0;$5-10(#;$(-$("#$0##;$
*-2$C&M-2$2#*-2C$(-$("#$0&(1-0^,$'&J,$("&($&1C$(-$52-(#+($("#$5=K'1+$*2-C$+"#C1+&'$
#O5-,=2#,L
!J- $ C-0(", $ '&(#2N $ ,+1#0(1,(, $ &( $ ("# $ _01I#2,1(8 $ -* $ k2-0109#0N $ 2#'#&,#; $ ("#$
2#,='(,$-*$&$)=2-5#&0$,(=;8N$+-CC1,,1-0#;$K8$..]$&0;$k2##05#&+#N$-0$("#$*-#(&'$
K-;8$K=2;#0L$!"#8$(#,(#;$*-2$("#$52#,#0+#$-*$FG$+"#C1+&',$10$("#$=CK1'1+&'$+-2;$K'--;$
-*$0#JK-20,>GEL$D($'#&,($*1I#$"&W&2;-=,$+"#C1+&',$J#2#$*-=0;$10$&''$K&K1#,$&0;$,-C#$
"&; $ &, $ C&08 $ &, $ E3 $ ;1**#2#0( $ +-C5-=0;,L $ !"# $ 2#5-2( $ V=#,(1-0#; $ ("# $ J1,;-C $ -*$
&''-J109 $ ("# $ *-#(=, $ (- $ K# $ #O5-,#; $ (- $ & $ +-C5'#O $ C1O(=2# $ -* $ 5#2,1,(#0(N $ K1-S
&++=C='&(1I#$&0;$K1-&+(1I#$+"#C1+&',$&($("#$C-,($+21(1+&'$,(&9#$-*$'1*#L
/0+10#2&(-2,$+&0$-0'8$"&I#$("#$#**#+($-*$10+2#&,109$("#$*-#(&'$K-;8$K=2;#0$&0;$
("#12$=,#$1,$("#2#*-2#$&$2#(2-92&;#$,(#5$*-2$,-+1#(8L$/($1,$5&2(1+='&2'8$1C5-2(&0($(-$&55'8$
("#$52#+&=(1-0&28$5210+15'#$10$1,,=#,$("&($&**#+($("#$*-#(=,N$10*&0($&0;$+"1';L
F47--O9%-I1%0&$P8%6-5#80#$
$
/($1,$&$C&M-2$+-0+#20$("&($K2#&,($C1'PN$5#2"&5,$("#$92#&(#,($91*($&$C-("#2$+&0$
91I#$*-2$("#$*=(=2#$"#&'("$-*$"#2$+"1';N$"&,$0-J$K#+-C#$("#$C-,($+-0(&C10&(#;$*--;$-0$
F?
("#$5'&0#(N$10$(#2C,$-*$5#2,1,(#0($-29&01+$5-''=(&0(,>G>L$/0$("#$_7D$,(=;1#,$-*$"=C&0$
K2#&,($C1'P$"&I#$,"-J0$("&($b?Z$-*$,&C5'#,$+-0(&10#;$&$;1,(=2K109$FG?$+"#C1+&',L$
!"1, $ J&, $ "19"#2 $ 10 $ 10;=,(21&'1,#; $ &2#&, $ ,"-J109 $ ("&( $ 10"&'&(1-0 $ -* $ ("#,# $ (-O1+$
,=K,(&0+#,$1,$&0$1C5-2(&0($*&+(-2>GFL$$!"#$;-,#$(&P#0$10$K8$&$K2#&,(S*##;109$K&K8$1,$G?$
(1C#,$"19"#2$("&0$("&($(&P#0$10$K8$&0$&;='(>G3L$
!"#$10+10#2&(-2$J-=';$&;;$(-$("#$(-(&'$'-&;$-*$+"#C1+&',$10$("#$C-("#2^,$*&($
&0;$("-,#$(-O10,$&++=C='&(#;$-I#2$&$'1*#(1C#$K8$("#$C-("#2$J1''$("#0$K#$(2&0,*#22#;$(-$
("#$(108$K-;8$-*$"#2$K&K8$("2-=9"$"#2$C1'PL$71O$C-0(",$-*$K2#&,($*##;109$J1''$(2&0,*#2$
>?Z$-*$("#$C-("#2^,$'1*#(1C#$&++=C='&(1-0$-*$-29&0-+"'-210#,$(-$("#$+"1'; >GGL$]2-C$
EbXb$-0#$10$*-=2$,&C5'#,$-*$K2#&,($C1'P$"&I#$K##0$*-=0;$(-$K#$-I#2$("#$'#9&'$'1C1($,#($
*-2 $ Q[6, $ 10 $ +-CC#2+1&' $ *##;,>3b$ &0; $ ("#,# $ &2# $ P0-J0 $ (- $ 1C5&12 $ 10(#''#+(=&'$
;#I#'-5C#0(S>GYS@L$[-0(&C10&(1-0$J1("$5#2,1,(#0($-29&01+$5-''=(&0(,$TQ\Q,U$10$K2#&,($
C1'P $ 10 $ &01C&', $ "&, $ +-0,1,(#0('8 $ ,"-J0 $ ,(2=+(=2&'N $ K#"&I1-=2&' $ &0; $ *=0+(1-0&'$
52-K'#C,$10$("#12$-**,52109>GbL$]-2$10,(&0+#N$10$C-0P#8,$1($"&,$,"-J0$("&($1($;#+2#&,#,$
("#12$&K1'1(8$(-$'#&20>Y?S>L$Q-'8K2-C10&(#;$;15"#08'$#("#2,$TQ6B),U$&2#$(-O1+$+"#C1+&',$
J"1+"$"&I#$K##0$;-=K'109$10$K2#&,($C1'P$#I#28$*1I#$8#&2,N$&0;$"&I#$&',-$K##0$2&51;'8$
10+2#&,109$10$("#$J&,(#$*#;$(-$10+10#2&(-2,$&,$("#8$&2#$0-J$52#,#0($10$C&08$+-CC-0$
#'#+(21+&' $ &0; $ #'#+(2-01+ $ 9--;,L $ Q6B), $ +&=,# $ +&0+#2N $ K12(" $ ;#*#+(,N $ ("82-1;$
;8,*=0+(1-0$&0;$1CC=0#$,=552#,,1-0L>YFN>Y3$/($1,$(2='8$(2&91+$("&($-0#$-*$("#$*#J$J&8,$
-*$2#C-I109$("#,#$+-0(&C10&0(,$*2-C$("#$C-("#2^,$K-;8$1,$K8$K2#&,(S*##;109L$
$
F4>--!9+<61%#
!-O1+$&0;$+&2+10-9#01+$#O5-,=2#,$10$#&2'8$'1*#N$10+'=;109$52#0&(&'$#O5-,=2#,N$
&2# $ C-2# $ '1P#'8 $ (- $ '#&; $ (- $ +&0+#2 $ ("&0 $ ,1C1'&2 $ #O5-,=2#, $ '&(#2 >YGSXL $ D( $ ("# $ ]12,($
/0(#20&(1-0&'$7+1#0(1*1+$[-0*#2#0+#$-*$["1';"--;$H#=P&#C1&N$"#';$10$7#5(#CK#2$>??3N$
Q2-*#,,-2$D'&0$Q2##+#$,=99#,(#;$("&($5-''=(&0(,$+2-,,109$("#$5'&+#0(&N$J#2#$;&C&9109$
("#$1CC=0#$,8,(#C$&0;$+-=';$K#$'10P#;$J1("$,-&2109$2&(#,$-*$'#=P&#C1&N$J"1+"$J#2#$
K#109$101(1&(#;$10$=(#2-L$!"1,$("#C#$J&,$#O5&0;#;$K8$Q2-*#,,-2$k#-29#$`0-O$10$"1,$
2#+#0($,(=;8$J"1+"$*-=0;$("&( $)9+<61%#-:"1#-+#-fC"<<*$+"#-9"$&C"$&g-_%1%-$_"-$"8"*1-$+/%&-/"1%-<+M%<2-$"-6+%-81"/-)9+<69""6-)0#)%14$!"#$m"-(,5-(,n$10+'=;#;$,1(#,$
-*$10;=,(21&'$+-CK=,(1-0N$&0;$,1(#,$J1("$"19"#2$'#I#',$-*$5&2(1+='&(#,N$d\[,N$01(2-9#0$
;1-O1;#,N $ ;1-O10, $ &0; $K#0WT&U582#0#, $a $10 $ -("#2 $J-2;, $ M=,($ J"&( $J-='; $K# $*-=0;$
&2-=0;$10+10#2&(-2,L$%#$,&1;$("&(N$10$C-,($+&,#,N$("#$C-("#2$"&;$10"&'#;$("#,#$(-O1+$
,=K,(&0+#,$&0;$("#8$J#2#$("#0$5&,,#;$-0$(-$("#$*-#(=,$("2-=9"$("#$5'&+#0(&>Y@L$!"1,$1,$
,=55-2(#;$K8$&01C&'$,(=;1#,$J"1+"$"&I#$&'2#&;8$+-0*12C#;$("&($+&0+#2$10$8-=09$+&0$
K# $ 101(1&(#; $ K8 $ 91I109 $ +&2+10-9#0, $ K#*-2# $ +-0+#5(1-0$ T(- $ ("# $ C-("#2UN $ 10 $ =(#2- $ -2$
;12#+('8$(-$("#$0#-0&(#>YbN>X?L
B#I#'-5109$,8,(#C,$&2#$I#28$;#'1+&(#$&0;$10$C&08$10,(&0+#,$&2#$0-($&K'#$(-$
2#5&12$;&C&9#$;-0#$K8$#0I12-0C#0(&'$(-O1+&0(,>XEL$/0$-0#$,(=;8$("#2#$J&,$&0$&9#S
2#'&(#; $ ;1**#2#0+# $ 10 $ 0#=2-(-O1+1(8 $ *-2 $ &'' $ K=( $ (J- $ -* $ FE $ ,=K,(&0+#, $ (#,(#;c $ ("#,#$
10+'=;#; $ "#&I8 $ C#(&',N $ 5#,(1+1;#, $ &0; $ -("#2 $ +"#C1+&',>X>L $ ["1';2#0 $ &2# $ 0-( $ M=,( $ &$
I='0#2&K'#$92-=5$K=($("#$+=22#0($10"&K1(&0(,$-*$&$;#I#'-5C#0(&'$,(&9#$("2-=9"$J"1+"$
&''$*=(=2#$9#0#2&(1-0,$C=,($5&,,L- !"1,$*&+($1,$2#+-901,#;$10$("#$5&,,&9#$-*$("#$]--;$
g=&'1(8 $ Q2-(#+(1-0 $ D+( $ 10 $ ("# $ _7DL $ /( $ 2#V=12#, $ ("&( $ 5#,(1+1;# $ ,(&0;&2;, $ &2# $ K&,#;$
521C&21'8 $ -0 $ "#&'(" $ +-0,1;#2&(1-0, $ &0; $ ("&( $ ,(&0;&2;, $ &2# $ ,#( $ &( $ '#I#', $ J"1+" $ J1''$
52-(#+($("#$"#&'("$-*$+"1';2#0$&0;$10*&0(,L$$
B#I#'-5C#0(&'$;1,-2;#2,$10+'=;109$&=(1,C$&0;$&((#0(1-0$;#*1+1($,80;2-C#$&2#$
J1;#,52#&; $ &0; $ &**#+( $ FS@Z $ -* $ +"1';2#0L $ !"# $ _7 $ R&(1-0&' $ D+&;#C8 $ -* $ 7+1#0+#,$
+-0+'=;#; $ 10 $ <='8 $ >??? $ ("&( $ FZ $ -* $ &'' $ ;#I#'-5C#0(&' $ ;1,-2;#2, $ J#2# $ & $ ;12#+($
+-0,#V=#0+# $ -*$ (-O1+ $ #0I12-0C#0(&' $ #O5-,=2#, $ &0;$ &0-("#2 $ >GZ$ &2# $ ("# $ 2#,='( $ -*$
FE
10(#2&+(1-0, $ K#(J##0 $ (-O1+ $ #O5-,=2#, $ &0; $ 10;1I1;=&' $ ,=,+#5(1K1'1(8L $ !"# $ +&=,#,$
10+'=;#; $ '#&;N $ C#2+=28N $ Q[6,N $ +#2(&10 $ 5#,(1+1;#, $ &0; $ -("#2 $ #0I12-0C#0(&'$
0#=2-(-O1+&0(,>XFN$,=K,(&0+#,$("&($&2#$&''$;1,+"&29#;$*2-C$10+10#2&(-2,
4#+#0('8$&,,-+1&(1-0,$"&I#$K##0$2#5-2(#;$10$+&,#$+-0(2-'$,(=;1#,$K#(J##0$("#$
K-;8 $ K=2;#0 $ -* $ C#2+=28 $ &0; $ ("# $ 21,P $ -* $ &=(1,C>X3L $ /0 $ -("#2 $ ,(=;1#, $ 10 $ !#O&,N$
&,,-+1&(1-0,$"&I#$K##0$*-=0;$K#(J##0$("#$&C-=0($-*$C#2+=28$;1,+"&29#;$10(-$("#$&12$
&0; $ J&(#2 $ K8$ +"#C1+&' $ 5'&0(, $ &0; $ ("# $ '-+&' $ 10+1;#0+# $ -* $ &=(1,C@?$ &0; $ &0 $ 10I#2,#$
2#'&(1-0,"15$K#(J##0$("#$;1,(&0+#,$-*$,+"--',$*2-C$("#$5'&0(,$;1,+"&29109$C#2+=28$&0;$
&=(1,C$10$("#12$8-=09#,($5=51',$3$8#&2,$'&(#2c$("1,$1,$("#$'&9$#O5#+(#;$*2-C$("#$*&+($("&($
("#$92#&(#,($,#0,1(1I1(8$(-$0#=2-(-O1+1(8$1,$,##0$K#*-2#$K12("$&0;$10$0#-0&(#, @EL$!"1,$
,=99#,(,$("&($C#2+=28$+-=';$K#$2#,5-0,1K'#$K=($("#$+-0(21K=(1-0$-*$-("#2$0#=2-(-O10,$
J&,$0-($#O+'=;#;L$
!"#$,(=;8$-*$("#$710($R1P'&&,$10+10#2&(-2$*-=0;$&$C='(1(=;#$-*$52-K'#C,$10$
+"1';2#0N $ 10+'=;109 $ '#&20109 $ ;#*#+(,N $ "85#2&+(1I1(8N $ &=(1,CN $ C#0(&' $ 2#(&2;&(1-0 $ &0;$
&''#291#,bG$&0;$("1,$1,$#O&+('8$J"&($J-=';$K#$&0(1+15&(#;$*2-C$("#$&K-I#$&0;$2#,#&2+"$
&'2#&;8$;-0#$-0$("#$"#&'("$#**#+(,$-*$"#&I8$C#(&',N$Q[6,$&0;$;1-O10,$-0$+"1';2#0L$
D01C&' $ ,(=;1#, $ ,"-J $ ,1C1'&21(1#,N $ J1(" $ & $ $ 2#+#0( $ ,(=;8 $ ;#C-0,(2&(109 $ &=(1,(1+S'1P#$
K#"&I1-=2&' $ +"&09#, $ 10 $ 2&(, $ J"-,# $ C-("#2, $ "&, $ K##0 $ #O5-,#; $ (- $ Q[6, $ J"1',($
52#90&0(c$("#8$"&;$;#I#'-5#;$&K0-2C&'$5'&,(1+1(8$10$("#$+-2(#O$-*$("#$K2&10>XGL
.#$0##;$&',-$(-$+-0,1;#2$,=K+'101+&'$(-O1+1(8L$!"#$51-0##2109$J-2P$-*$%#2K#2($
R##;'#C&0$,"-J#;$("&($'#&;$+-=';$+&=,#$;#+2#&,#,$10$10(#''19#0+#$&0;$&'(#2&(1-0$-*$
K#"&I1-=2$10$("#$&K,#0+#$-*$+'101+&''8$I1,1K'#$,190,$-*$(-O1+1(8b>L$!"1,$"&,$&',-$K##0$
,"-J0$(-$K#$("#$+&,#$J1("$Q[6,>XY$ &0;$C#("8'$C#2+=28XbL$!"#,#$#**#+(,$&2#$&''$("#$
C-2# $ '1P#'8 $ J"#0 $ +"1';2#0 $ &2# $ #O5-,#; $ (- $ C='(15'# $ 5-''=(&0(,N $ 0-(&K'8 $ ("# $ "#&I8$
C#(&',N$J"1+"$J1''$K#$*-=0;$10$("#$+-+P(&1'$-*$+"#C1+&',$2#'#&,#;$K8$10+10#2&(-2,L
D'("-=9"$("1,$"&,$-0'8$C10-2$1C5'1+&(1-0,$*-2$&0$10;1I1;=&'$1($+&0$"&I#$C&M-2$
1C5'1+&(1-0,$*-2$&$5-5='&(1-0L$]-2$10,(&0+#$&$G$5-10($;2-5$-*$/g$10$("#$5-5='&(1-0$
2#;=+#,$K8$G?Z$("#$0=CK#2$-*$91*(#;$+"1';2#0$T/g$&K-I#$E>?U$&0;$10+2#&,#,$K8$G?Z$
("#$0=CK#2$J1("$K-2;#2'10#$/g$TK#'-J$@?U>XXL$!"1,$+&0$"&I#$52-*-=0;$+-0,#V=#0+#,$
*-2$&$,-+1#(8N$#,5#+1&''8$1*$("#$;2-5$10$/g$1,$&++-C5&01#;$K8$K#"&I1-=2&'$+"&09#,L
F4A--O9%-!9%/+)0<<2-.%#&+$+,%
/0$("#$K--PN$["#C1+&'$)O5-,=2#,N$H-J$H#I#',$&0;$%19"$7(&P#,$K8$Q2-*#,,-2,$
D,"*-2;$&0;$:1''#2EGEN$("#$&=("-2,$0-(#;$("&($&$52-5-2(1-0$-*$("#$5-5='&(1-0$2#&+($(-$
+"#C1+&',$&0;$5-''=(&0(,$&($,#I#2&'$-2;#2,$-*$C&901(=;#$K#'-J$("&($0-2C&''8$("-=9"($
(-$K#$(-O1+L$]-2$#O&C5'#$2#,#&2+"$"&,$;1,+-I#2#;$10;1I1;=&',$J"-$2#&+($(-$'#I#',$-*$
(-O10,$52#I1-=,'8$+-0,1;#2#;$(-$K#$,&*#L$$!J-$#O&C5'#,$&2#$K#0W#0#>X@$&0;$'#&;bFL$/($
"&,$K##0$;#C-0,(2&(#;$("&($("#2#$1,$&$(#0*-';$;1**#2#0+#$K#(J##0$;1**#2#0($10;1I1;=&',$
10$("#$C#(&K-'1,C$-*$("#$+&2+10-9#01+$QD%$K#0WT&U582#0#>XbL$
D,"*-2; $ &0; $ :1''#2 $ &',- $ 0-(#; $ ("&( $ ,(=;1#, $ 10 $ K-(" $ (-O1+-'-98 $ &0;$
#51;#C1-'-98$"&I#$2#+-901,#;$("&($+"#C1+&',$&2#$"&2C*='$&($'-J#2$&0;$'-J#2$;-,#,$
&0; $ ("&( $ &0 $ 10+2#&,109 $ 0=CK#2 $ -* $ 5#-5'# $ &2# $ "&I109 $ 52-K'#C,L $ D $ ,1901*1+&0($
5#2+#0(&9#$-*$("#$5-5='&(1-0$"&I#$K##0$*-=0;$(-$2#&+($("1,$J&8$TEG$(-$F?Z$10$,#I#2&'$
,=2I#8, $J1("$GZ$"&I109$;&1'8$,8C5(-C,ULEGE$ 4#,#&2+"$"&,$,"-J0$EG?$(-$3G?$*-';$
I&21&K1'1(8$10$2#,5-0,#$(-$&12K-20#$5&2(1+'#,>@?L$]21#;C&0$"&,$,(&(#;$("&($#0I12-0C#0(&'$
2#9='&(1-0$2#V=12#,$("#$52-(#+(1-0$-*$("#,#$,#0,1(1I#$10;1I1;=&',>@EL$!"1,$"19"'19"(,$("#$
;&09#2,$-*$10+10#2&(-2,$J"1+"$#C1($&$C='(1(=;#$-*$+"#C1+&'$+-C5-=0;,L$["#C1+&'$
,#0,1(1I1(8$1,$(851+&''8$(2199#2#;$K8$&0$&+=(#$#O5-,=2#$&*(#2$J"1+"$,8C5(-C,$,(&2($(-$
-++=2 $ &( $ I#28 $ '-J $ '#I#', $ -* $ #O5-,=2#EGEL $ ]&='(, $ &2# $ &'' $ (-- $ +-CC-0 $ J1(" $ C-;#20$
10+10#2&(-2,$'#&;109$(-$;1,+"&29#,$-*$5-''=(&0(,$&($'#I#',$("&($#0;&09#2$"#&'("$a$91I109$
F>
& $ I#28$ 2#&' $ 21,P $ -*$ '-09S(#2C $ ,#0,1(1,&(1-0L $ [#2(&10 $ ,=,+#5(1K'# $ 10;1I1;=&', $ J1'' $ K#$
"19"'8$&**#+(#;$K8$("#,#$5-''=(&0(,$&0;$("#,#$#**#+(,$J1''$K#$;1**1+='($(-$&0(1+15&(#L$/0$
&;;1(1-0N$5#-5'#$&**#+(#;$("1,$J&8$&2#$#O(2#C#'8$;1**1+='($(-$(2#&(L
G4----;0&$-H+&$0M%&-0#6-O9%-;1%)0*$+"#012-;1+#)+C<%
G43--O9%-;1%)0*$+"#012-;1+#)+C<%
!"# $ Q2#+&=(1-0&28 $ Q210+15'# $ "&, $ 0-J $ K##0 $ 10(2-;=+#; $ 10(- $ 0&(1-0&' $ &0;$
10(#20&(1-0&' $ '&J $ 10+'=;109 $("&( $ -* $("# $ )=2-5#&0 $ _01-0>@>L$ !"1, $5210+15'# $ 10I-'I#,$
&+(109$10$("#$*&+#$-*$=0+#2(&10$P0-J'#;9#$&K-=($21,P,$*2-C$#0I12-0C#0(&'$#O5-,=2#,L$
!"1, $ C#&0, $ 5=K'1+ $ "#&'(" $ C#&,=2#, $ ,"-='; $ K# $ (&P#0 $ 10 $ 2#,5-0,# $ (- $ '1C1(#;N $ K=($
5'&=,1K'#$&0;$+2#;1K'#N$#I1;#0+#$-*$'1P#'8$&0;$,=K,(&0(1&'$"&2C>@FL$/($1,$,=CC#;$=5$10$
("#$Ebb@$.109,52#&;$,(&(#C#0(A$m."#0$&0$&+(1I1(8$2&1,#,$("2#&(,$-*$"&2C$(-$"=C&0$
"#&'(" $ -2 $ ("# $ #0I12-0C#0(N $ 52#+&=(1-0&28 $ C#&,=2#, $ ,"-='; $ K# $ (&P#0 $ #I#0 $ 1* $ ,-C#$
+&=,#$&0;$#**#+($2#'&(1-0,"15,$&2#$0-($*=''8$#,(&K'1,"#;$,+1#0(1*1+&''8L$/0$("1,$+-0(#O(N$
("#$52-5-0#0($-*$("#$&+(1I1(8N$2&("#2$("&0$("#$5=K'1+N$,"-=';$K#&2$("#$K=2;#0$-*$52--*Ln$
/0$("#$+&,#$-*$10+10#2&(-2,$&$2#+#0($2#I1#J$-*$"#&'("$#**#+(,$*-=0;$(J-$("12;,$-*$,(=;1#,$
,"-J#;$&$5-,1(1I#$#O5-,=2#S;1,#&,#$&,,-+1&(1-0$J1("$+&0+#2$TC-2(&'1(8N$10+1;#0+#$&0;$
52#I&'#0+#U>@3$ &0; $ ,-C# $ ,(=;1#, $ 5-10(#; $ (- $ & $ 5-,1(1I# $ &,,-+1&(1-0 $ J1(" $ +-09#01(&'$
C&'*-2C&(1-0,L$/0$&;;1(1-0$J1("-=($#O&+($P0-J'#;9#$-*$J"&($5-''=(&0(,$&2#$52-;=+#;$
K8$10+10#2&(-2,N$("#12$V=&0(1(1#,N$("#12$#0I12-0C#0(&'$*&(#$-2$("#12$"#&'("$#**#+(,N$1($1,$
1C5-,,1K'#$(-$&,,=2#$("#12$,&*#(8L$/($1,$&K,-'=(#'8$+'#&2$*2-C$("1,$&0;$*2-C$("#$#I1;#0+#$
52#,#0(#;$"#2#$("&($K=1';109$C=01+15&'$J&,(#$ 10+10#2&(-2,$I1-'&(#,$("#$Q2#+&=(1-0&28$
Q210+15'#$&0;$5#2"&5,$)=2-5#&0$H&JL
XL> --Q%01#+#@-81"/-;0&$-H+&$0M%&
!1C# $ &0;$ (1C# $ &9&10$ 1( $ "&, $K##0 $*-=0;$ ("&( $J"&( $J#$ ;1; $0-( $P0-J $&K-=($
+"#C1+&',$52-I#;$(-$K#$*&2$C-2#$1C5-2(&0($("&0$J"&($J#$;1;$P0-JL$D,$&0$10+10#2&(-2$
9#0#2&(#, $ "=0;2#;,$-*$+"#C1+&',N$10+'=;109$0#J$+-C5-=0;,N$J#$+&0$#O5#+($C&08$
=05'#&,&0($*=(=2#$,=2521,#,L$$%#2#$&2#$&$*#J$#O&C5'#,$*2-C$("#$5&,(A
• !9<"1"8<*"1")01:"#&-W!Z!&X$ $$$$$!"#,#$+"#C1+&',$J#2#$(-=(#;$&,$("#$,&*#,($
+"#C1+&', $#I#2$10I#0(#; $ J"#0$*12,($,80("#,1,#; $10$Eb>@L$!"-C&, $:1;9#'#8$
2#+#1I#;$("#$"19"#,($&J&2;$*2-C$("#$+"#C1+&'$10;=,(28$*-2$"1,$;1,+-I#28L$D*(#2$
3?$8#&2,$-0$("#$C&2P#($,=,51+1-0$*#''$-0$("#CL$!"#8$J#2#$52-;=+109$"-'#,$10$
("#$-W-0#$'&8#2$#O+##;109$("#$J-2,($+&,#$,+#0&21-$52#;1+(#;$K8$,+1#0(1,(,L
• $ ;"<2)9<"1+#0$%6-:+C9%#2<&-W;!I&X$ $ $!"#,#$+"#C1+&', $J#2#$10(2-;=+#;$10$
Eb>bL$!-O1+1(8$(#,(,$&($("#$(1C#$,"-J#;$0-$"&W&2;-=,$#**#+(,L$!"#8$J#2#$-0$
("#$C&2P#($*-2$FY$8#&2,$K#*-2#$V=#,(1-0,$&2-,#L$68$("&($(1C#$("#8$J#2#$10$("#$
K-;8$*&($-*$#I#28$'1I109$+2#&(=2#$10$("#$5'&0#($&0;$#I1;#0+#$K#9&0$(-$#C#29#$-*$
("#12$#0;-+210#$;1,2=5(109$#**#+(,L
• ;%&$+)+6%&$$$$$$$)&2'8$5#,(1+1;#,$10+'=;#;$&2,#01+&'$+-C5-=0;,$K=($("#,#$P1''#;$
*&2C#2, $ &, $ J#'' $ &, $ 5#,(,L $ !"#8 $ J#2# $ 2#5'&+#; $ K8 $ BB!L $ Q&=' $ :=''#2 $ J&,$
&J&2;#;$("#$R-K#'$Q21W#$*-2$("1,$;1,+-I#28$&,$1($J&,$+-0,1;#2#;$&$C1'#,(-0#$10$
"=C&0$52-92#,,L$6=($BB!$K2-=9"($;#&("$10$&$;1**#2#0($J&8$&0;$1($J&,$&0-("#2$
(J-$;#+&;#,$K#*-2#$1($J&,$K&00#;L$H#,,$5#2,1,(#0($5#,(1+1;#,$("#0$+&C#$-0(-$
FF
•
("# $ C&2P#( $ K=( $ ("#8 $ "&; $ 8#( $ &0-("#2 $ =0&0(1+15&(#; $ 52-K'#C $ a $ #0;-+210#$
;1,2=5(1-0L
$ O1+:*$2< - $+# - WOIOX$ $ $ /0 $ ("# $ #&2'8 $ ,#I#0(1#, $ ,+1#0(1,(, $ 0-(#; $ 122#I#2,1K'#$
;&C&9# $ J&, $ -++=22109 $ (- $ ("# $ 2#52-;=+(1I# $ ,8,(#C $ -* $ *1," $ &0; $ ,"#''*1,"N$
#,5#+1&''8$+'&C,N$,"21C5,N$-8,(#2,N$B-I#2$7-'#$&0;$,&'C-0L$/($J&,$EE$8#&2,$
K#*-2#$("#$+&=,#$J&,$*-=0;$&0;$1($J&,$*-=0;$(-$K#$;=#$(-$K#$(21K=(8'$(10N$&$
+"#C1+&'$&;;#;$(-$5&10($(-$,(-5$K&20&+'#,$92-J109L$/0+2#;1K'8$("#$;&C&9#$J&,$
-++=22109$&($&$+-0+#0(2&(1-0$-*$M=,($*1I#$5&2(,$5#2$(21''1-0L$68$("#$#0;$-*$("#$
#19"(1#, $ C-2# $ ("&0 $ -0# $ "=0;2#; $ ,5#+1#, $ -*$ *1," $ J#2# $ P0-J0$ (- $ "&I# $ K##0$
"&2C#;L$
!"1, $ 5&((#20 $ -* $ =0&0(1+15&(#; $ ;1,&,(#2, $ &0; $ '-09 $ '&(#0( $ 10(#2I&', $ K#*-2# $ ("#12$
;1,+-I#28 $ +"&2&+(#21,#, $ ("# $ "1,(-28 $ -* $ C&08 $ (-O1+ $ +"#C1+&', $ &0; $ J&22&0(, $ 92#&($
+&=(1-0$10$("#$=,#$-*$0#J$+-C5-=0;,L$D01C&'$,(=;1#,$&'C-,($0#I#2$J&20$=,$-*$("#$
=01V=#'8$"=C&0$0#=2-(-O1+$#**#+(,$-0$K#"&I1-=2N$'&09=&9#$&0;$("10P109L$/0$("#$+&,#$
-*$'#&;N$C#2+=28$&0;$Q[6,$("#$'#I#',$-*$#O5-,=2#$0##;#;$*-2$("#,#$#**#+(,$(-$-++=2$
"&I#$K##0$-I#2#,(1C&(#;$K8$&$*&+(-2$-*$E??$(-$E?N???>@GL$!-$V=-(#$k2&0;M#&0>@F$mA680&
.@;.23.59.8 & 81*7 & 01. & 9*80+( & 9*58.B,.59.8 & */ & <382.462<354 & .62+( & 76253548 & 6'*,0&
.5)32*5-.506+&16:62<8>&?*<6(&01.&5..<&/*2&6;;+(354&01.&A2.96,03*562(&A23593;+.&38 &
.).5&42.60.2&0165&'./*2.n
R4--S<$%1#0$+,%-T0&$%-O%)9#"<"@+%&
D0 $ 1;#&' $ J&,(# $ ,(2&(#98 $ J-='; $ 52-;=+# $ 0- $ (-O1+ $ #C1,,1-0,N $ 0- $ (-O1+ $ K8S
52-;=+(,N$0-$2#,1;=#,$("&($0##;$'&0;*1''109$TW#2-$J&,(#UN$9--;$2#+-I#28$-*$C&(#21&',$
&0;$K#$+&5&K'#$-*$;#&'109$J1("$&''$(85#,$-*$J&,(#L$!"1,$C19"($,##C$&$(&''$-2;#2$K=($
J1("$&$+-CK10&(1-0$-*$&552-&+"#,N$1($1,$0-J$5-,,1K'#$(-$+-C#$V=1(#$+'-,#$(-$("1,$9-&'L
\0+#$("1,$&1C$1,$C&;#$+'#&2$("#0$10+10#2&(1-0 $K#+-C#,$&$5--2$+"-1+#L$!"#$
5-(#0(1&''8$;&09#2-=,$#C1,,1-0,$(-$&12N$("#$"19"$I-'=C#$-*$&,"$("&($0##;,$'&0;*1''109$
&0;$("#$I#28$(-O1+$0&(=2#$-*$("#$*'8$&,"$J-=';$2='#$1($-=(L$71C1'&2'8$582-'8,1,$52-;=+#,$
(-O1+$K8S52-;=+(,$&0;$1,$K#,($&I-1;#;L$
$!"#$C-,($1C5-2(&0($+-C5-0#0($-*$&0$10(#92&(#;$,(2&(#98$C=,($K#$,-C#$*-2C$
-*$,#5&2&(1-0$&0;$2#+8+'109L$.#$C=,($&',-$'--P$&($C#("-;,$-*$;#&'109$J1("$2#,1;=&'$
J&,(# $ ("&( $ 52-;=+# $ 0- $ &,"N $ ,=+" $ &, $ :#+"&01+&'S61-'-91+&' $ !2#&(C#0(N $ D0&#2-K1+$
B19#,(1-0$&0;$D;I&0+#;$!"#2C&'$!#+"0-'-91#,L
@LE --L%)2)<+#@U-L%P*&%-0#6-!"/C"&$+#@
6-("$9-I#20C#0($9=1;&0+#$&0;$("#$)=2-5#&0$_01-0$.&,(#$%1#2&2+"8$C&P#$1($
+'#&2$("&($2#+8+'109$&0;$2#S=,#$&2#$("#$"19"#,($521-21(1#,$10$J&,(#$C&0&9#C#0($&0;$("&($
("1,$,"-=';$(&P#$52#+#;#0+#$-I#2$10+10#2&(1-0$&0;$'&0;*1''L$!"1,$"1#2&2+"8$"&,$K##0$
;#,+21K#; $&, $2#;=+(1-0N $ 2#=,#N$2#+-I#28$&0;$;1,5-,&'L $:&08$*10# $J-2;, $"&I# $K##0$
,5-P#0N $ K=( $ ("# $ 2#&'1(8 $ 1,N $ ("&( $ J1("-=( $ 10+#0(1I#, $ (- $ ,=55-2( $ 2#+8+'109N $ K-(" $ ("#$
10+2#&,# $ 10 $ '&0;*1'' $ (&O $ &0; $ ("# $ )=2-5#&0 $ B12#+(1I#, $ (- $ 2#;=+# $ ("# $ &C-=0( $ -*$
K1-;#92&;&K'# $ J&,(# $ 9-109 $ (- $ '&0;*1'' $ &2# $ ;21I109 $ J&,(# $ C&0&9#C#0( $ (-J&2;, $ 1(,$
'-J#,($521-21(1#,N$5210+15&''8$10+10#2&(1-0L$!"1,$"&,$0-J$K#+-C109$("#$#&,1#,($-5(1-0$
*-2$'-+&'$&=("-21(1#,L$.&,(#$5-'1+8$1,$I##2109$&J&8$*2-C$1(,$,(&(#;$"19"#,($521-21(1#,$
J1("$("#12$'-J$#0I12-0C#0(&'$1C5&+($(-J&2;,$("#$'#&,($,=,(&10&K'#$-5(1-0,$J"1+"$"&I#$
("#$"19"#,($#0I12-0C#0(&'$1C5&+(L
$ !"#$ 0#($#**#+( $-*$ ("1, $1,$("&( $10+10#2&(1-0N $J1("$1(, $'&29#$&55#(1(# $*-2$"19"$
+&'-21*1+$2#+8+'&K'#$C&(#21&',N$1,$0-J$10$;12#+($+-C5#(1(1-0$J1("$2#+8+'109 $&0;$"&,$
F3
K#+-C# $ &0 $ -K,(&+'# $ (- $ ,-=0; $ J&,(# $ 5-'1+8L $ !"1, $ 1, $ &0 $ 10I#2,1-0 $ -* $ ("# $ .&,(#$
%1#2&2+"8$&0;$2#C-I#,$("#$C-(1I&(1-0$(-$2#S=,#$&0;$2#+8+'#L$\0#$J&8$*-2J&2;$J-=';$
K#$(-$=,#$("#$,(2&(#98$&'2#&;8$#C5'-8#;$K8$,#I#2&'$+-=0(21#,$,=+"$&,$7J#;#0$&0;$("#$
R#("#2'&0;,N $ J"#2# $ J&,(# $ +&00-( $ K# $ ;#'1I#2#; $ (- $ '&0;*1'' $ -2 $ 10+10#2&(-2, $ J1("-=($
"&I109 $ =0;#29-0# $ ,#5&2&(1-0 $ -2 $ (2#&(C#0(L $ /0 $ #**#+(N $ ("1, $ ,(-5, $ ("# $ ,#0;109 $ -*$
2#+8+'&K'#$1(#C,$(-$'&0;*1''$&0;$10+10#2&(1-0L$
$ $$DK-=($3YZ$-*$C=01+15&'$J&,(#$+-0,1,(,$-*$5&5#2N$+&2;K-&2;N$*&K21+,N$9'&,,$
&0;$C#(&',$a$&''$-*$J"1+"$+-=';$K#$2#+8+'#;L$:#(&',$&2#$K#+-C109$C-2#$I&'=&K'#$&0;$
&2#$&'2#&;8$K#109$C10#;$10$;=C5,$10$5&2(,$-*$("#$J-2';L$DK-=($F>Z$+-0,1,(,$-*$9&2;#0$
&0;$*--;$J&,(#$J"1+"$+-=';$K#$+-C5-,(#;L$$7#I#2&'$+-CC#0(&(-2,$"&I#$#C5"&,1,#;$
("&(N$*-2$2#+8+'109$52-92&C,$(-$J-2P$,=++#,,*=''8N$1($1,$1C5-2(&0($(-$"&I#$,8,(#C,$10$
5'&+# $ ("&( $ &2# $ #&,8 $ (- $ =,#L $ B--2,(#5 $ +-''#+(1-0, $ -* $ -29&01+ $ J&,(# $ &2# $ #,5#+1&''8$
1C5-2(&0(L$$$D0-("#2$EFZ$-*$J&,(#$1,$5'&,(1+,$J"1+"$&2#$;1,+=,,#;$K#'-JL$
!"# $ _` $ 52#,#0('8 $ 2#+8+'#, $ &K-=( $ >FZ $ -* $ 1(, $ J&,(#L $ :&08 $ -("#2 $ +-=0(21#,$
2#+8+'# $ & $ *&2 $ "19"#2 $ 52-5-2(1-0 $ -*$ ("#12 $ J&,(# $ J1(" $ R-2J&8N $ D=,(21& $ &0; $ %-''&0;$
&+"1#I109 $ -I#2 $ 3?Z $ &0; $ 7J1(W#2'&0; $ -I#2 $ G?ZL $ 7( $ );C=0;,K=28 $ 10 $ ("# $ _` $ "&,$
2#&+"#;$G?ZL$6#'-J$1,$&$(&K'#$,"-J109$("&($C&08$&2#&,$"&I#$&+"1#I#;$"19"$2&(#,$-*$
C=01+15&'$J&,(#$;1I#2,1-0$T2#+8+'109N$2#S=,#$&0;$+-C5-,(109U$&0;$("1,$;#C-0,(2&(#,$
("&($;1I#2,1-0$2&(#,$-*$G?SX?Z$&2#$2#&'1,(1+$(&29#(,L
b.$-,"'8&
^"7%10".#&a-'%&9)%1$%#'=&
(#))#*++,-!+./+0%-1%-0&./&W-"1.2&M68)'&&&&&&&&&&&&&&&&&&&&&&&&&&&&&EG&
K).'"?"&^"0'1"$'2&X%4&d%-,-#5&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&EG&
e-BB.&9U-5*-=2&C'-,8&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&E<&
J1%#'.#2&K#'-1".&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&fG&
_%,,*0$.&9>",-#=2&C'-,8&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&f:&
X%'(%1,-#50&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&fH&
X.1'(*3+%1,-#5&W.*#'82&K#'-1".2&W-#-5-&&&&&&&&&&&&&&&&&&&&&RF&
!"5#%82&K#'-1".&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&RF&
M-0'&U1"#$%2&U1"#$%&M54-15&C0,-#52&W-#-5-&&&&&&&&&&&&&&&&&&&RR&
_..'(+-82&>-"#%2&`;!c&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&RR&
O-,"/-D2&W-#-5-&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&RG&
W(-'(-32&X%4&g%10%82&`;!c&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&RG&
h-,,0&W(*1$(2&V"16"#"-2&`;!c&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&RG&
e-,4-82&C1%,-#5&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&R:&
_%,,%7",,%2&K#'-1".&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&R:&
W-#+%11-2&c*0'1-,"-&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& R<&
_%,,%7*%2&A-0("#6'.#2&`;!c&
RS&
e*%,)(2&K#'-1".2&W-#-5-&
GE&
e"0+.3%&^"0'1"$'2&X%4&d%-,-#5&
Gf&
W/"/'.#2&X%4&g%10%82&`;!c&
GR&
b.7%,-#52&W.,.1-5.2&`;!c&
GR&
^%#3-i&
G@&
_%16%#&W.*#'82&X%4&g%10%82&`;!c&
G@&
A.1$%0'%12&>-00-$(*0%''02&`;!c&
G@&
b%7%1%''2&>-00-$(*0%''02&`;!;c;&
G:&
c##&c1+.12&>"$("6-#2&`;!;c;&
GH&
W1.$?%''2&J%D-02&`;!;c;&
GH&
^.7%12&X%4&O-3)0("1%2&`;!c&
GH&
j-"?.*1-&^"0'1"$'2&X%4&d%-,-#5&
GH&
!4"'B%1,-#5&
GS&
X.7-&!$.'"-2&W-#-5-&
GS&
U.1',-#52&K1%6.#2&`;!c&
GS&
>-5"0.#2&A"0$.#0"#2&`;!c&
GS&
h"'$(+*162&A"0$.#0"#2&`;!c&
GS&
V"0-,"-2&W-,"/.1#"-2&`;!c&&&
GS&
FG
R47--;1"6*)+#@-Q%&&-T0&$%
%-J#I#2$#**1+1#0('8$J#$2#+8+'#N$2#S=,#$&0;$+-C5-,(N$("#,#$+&00-($,-'I#$("#$
J&,(#$52-K'#C$J1("-=($&0-("#2$I1(&'$,(#5c$0&C#'8$52-;=+109$'#,,$J&,(#$10$("#$*12,($
5'&+#L$!-$#C5"&,1,#$("1,$5-10(N$("#$&C-=0($-*$C=01+15&'$&0;$K=,10#,,$J&,(#$10$("#$_`$
1,$,(1''$92-J109>@Y$10$,51(#$-*$"19"#2$2&(#,$-*$2#+8+'109L$
d&21-=, $ ,-'=(1-0, $ (- $ ("1, $ &2# $ 9&10109 $ 5-5='&21(8L $ \0# $ 1, $ )O(#0;#; $ Q2-;=+($
4#,5-0,1K1'1(8 $ T)Q4U $ J"#2# $ *12C, $ (&P# $ 5"8,1+&' $ &0; $ *10&0+1&' $ 2#,5-0,1K1'1(8 $ *-2$
52-;=+(,$#I#0$&*(#2$("#8$&2#$,-';N$+-''#+(109$("#12$52-;=+(,$&0;$5&+P&9109$&*(#2$=,#L$
!"1,$#0+-=2&9#,$*12C,$0-($(-$52-;=+#$0-0S2#+8+'&K'#$&0;$0-0$2#S=,&K'#$52-;=+(,L$/($
"&,$K##0$&55'1#;$(-$5&+P&9109N$(82#,N$&0;$#'#+(2-01+,L$$)Q4$0##;,$(-$K#$#O(#0;#;$K=($
J"#2#$("1,$1,$0-($52&+(1+&'N$,=+"$&,$J"#2#$52-;=+(,$&2#$"&W&2;-=,$-2$0-0S2#+8+'&K'#N$
("#0$&$52-;=+($K&0$C19"($K#$&552-521&(#L$D$*=2("#2$,-'=(1-0$J-=';$K#$(-$(&O$0-0S
2#+8+'&K'#$1(#C,$(-$;1,+-=2&9#$("#12$52-;=+(1-0L
!"#2# $ 1, $ & $ *=2("#2 $ &,1;# $ (- $ ("1, $ 1,,=# $ J"1+" $ "&, $ 8#( $ (- $ K# $ &;;2#,,#; $ K8$
9-I#20C#0(,L $ !"# $ ;#I#'-5#; $ J-2'; $ 1, $ 52-;=+109N $ &0; $ ;1,5-,109 $ -*N $ 10+2#&,109$
&C-=0(, $ -* $ 9--;, $ -* $ &'' $ P10;,N $ 10+'=;109 $ '&29# $ &C-=0(, $ -* $ ,80("#(1+ $ C&(#21&',$
=0P0-J0$&$+#0(=28$&9-L$!"#$2#,($-*$("#$J-2';$1,$0-($=00&(=2&''8$J&0(109$(-$,"&2#$("#$
52-,5#21(8N$K=($J#$&2#$2&51;'8$2#&+"109$&$5-10($J"#2#$+-0(10=109$#I#0$&($("#$52#,#0($
'#I#' $ J1'' $ K#+-C# $ 1C5-,,1K'# $ K#+&=,# $ J# $ &2# $ 2=00109 $ -=( $ -* $ K-(" $ #0#298 $ &0; $ -*$
#,,#0(1&'$C&(#21&',N$5&2(1+='&2'8$-1'L
.#$"&I#$*101(#$,-=2+#,$-*$-1'$*2-C$J"1+"$,-$C&08$C&(#21&',$&2#$C&;#L$.#$&2#$
52-K&K'8$+'-,#$(-$2#&+"109$5#&P$52-;=+(1-0$&0;$("1,$2#,-=2+#$J1''$;1C101,"$-I#2$("#$
0#O($*#J$;#+&;#,$&($&$(1C#$J"#0$;#C&0;$1,$10+2#&,109$10(#20&(1-0&''8L $R&(=2&'$9&,$
J1''$5#&P$&$;#+&;#$-2$(J-$'&(#2$&0;$("#0$;1C101,"L$!"#$-0'8$-("#2$(J-$C&M-2$,-=2+#,$
-*$#0#298$J-=';$K#$+-&'$&0;$0=+'#&2$5-J#2L$R=+'#&2$#0#298N $#I#0$10$("#$=0'1P#'8$
#I#0($("&($&$,&*#$J&8$+-=';$K#$*-=0;$(-$;#&'$J1("$("#$2&;1-&+(1I#$J&,(#N$J-=';$'&,($
K#(J##0$@ $>@X$ $&0;$EX$8#&2,$ >@@$ 1*$1($J&,$,=55'8109$>?S>GZ$-*$("#$J-2';^,$#0#298$
K#+&=,# $ =2&01=C $ 1, $ &',- $ & $ *101(# $ 2#,-=2+#L $ 6=20109 $ +-&' $ +-='; $ +&=,# $ & $ ;1,&,(2-=,$
10+2#&,#$10$92##0"-=,#$9&,#,L$D9&10$1($+-=';$0-($C&P#$=5$*-2$("#$,"-2(&9#$-*$#0#298$
&0;$J-=';$'&,($'#,,$("&0$&$+#0(=28>@bL$D($52#,#0($1($&55#&2,$("&($9#0=10#'8$2#0#J&K'#$
,-=2+#, $ -* $ #0#298 $ +-='; $ 52-I1;#N $ &( $ ("# $ I#28 $ C-,(N $ 3?Z $ -* $ -=2 $ 52#,#0( $ #0#298$
2#V=12#C#0(,>@bL $ T/0 $ 2#&'1(8 $ 1( $ 1, $ '1P#'8 $ (- $ K# $ C=+" $ '#,, $ &0; $ 1( $ "&, $ K##0 $ #,(1C&(#;$
2#0#J&K'#$,-=2+#,$J1''$52-;=+#$3q$Z$-*$(-(&'$#0#298$&0;$>>Z$-*$#'#+(21+1(8$K8$>?>?$
10$("#$_`UL>b?$B1**#2#0($#O5#2(,$J1''$"&I#$("#12$-J0$-5101-0,$-0$&''$-*$("#,#$*19=2#,N$
K=($-0#$("109$1,$+#2(&10A$S$J#$&2#$2=00109$-=($-*$#0#298L$ $.#$+&0$&0(1+15&(#$&$>?Z$
2#;=+(1-0$10$#0#298$*2-C$&''$,-=2+#,$10$3?$8#&2,$&0;$&$3?Z$2#;=+(1-0$10$Y?$8#&2, >@bL$
H-09$K#*-2#$("1,$"&55#0,$("#$521+#$-*$#0#298$&0;$-*$9--;,$C&;#$*2-C$-1'$J1''$,-&2L
!"#2#$1,$-0'8$-0#$5-,,1K'#$,-'=(1-0$(-$("1,$52-K'#C$10$("#$'-09$(#2C$&0;$("&($1,$
(-$2#;=+#$-=2$=,#$-*$#0#298$J"1+"$C#&0,$2#;=+109$-=2$52-;=+(1-0$&0;$+-0,=C5(1-0$-*$
9--;,N$&0;$52#,#2I109$-=2$2#,-=2+#,N$10+'=;109$("#$I&'=&K'#$+-C5-0#0(,$10$-=2$J&,(#L
R4>--V%1"-T0&$%
p#2- $ J&,(#N $ 101(1&''8 $ 10(2-;=+#; $ 10 $ R#J $ p#&'&0; $ "&, $ K##0 $ (&P#0 $ =5$
,=++#,,*=''8 $ K8 $ -("#2 $ 2#91-0, $ &0; $ +1(1#, $ ,=+" $ &, $ 7&0 $ ]2&0+1,+-N $ !"# $ Q"1'15510#,N$
]'&0;#2,N$[&0K#22&N$6&("$&0;$R-2("$)&,($7-C#2,#(L$/0$("#$_`N$XEZ$-*$+-=0+1',$"&I#$
+-CC1((#;$(-$W#2-$J&,(#$&,$5&2($-*$("#12$5'&0L$!"1,$C#&0,$J-2P109$(-J&2;,$&$9-&'$-*$
52-;=+109$W#2-$J&,(#$&0;$&I-1;109$;1,5-,&'$10$'&0;*1''$&0;$10+10#2&(1-0L$!"#$5-'1+8$-*$
("# $ )=2-5#&0 $ _01-0 $ 1, $ &'2#&;8$ -0 $ ("# $ 5&(" $ (-J&2;, $ W#2- $ J&,(#L $V%1" - _0&$%- 0#6+#)+#%10$+"#-01%-/*$*0<<2-+#)"/C0$+:<%4FY
!"#2#$&2#$,-C#$;1**1+='(1#,$J1("$W#2-$J&,(#L$\0#$1,$("&($0-($&''$C&(#21&',$+&0$
K# $ 2#+8+'#; $ &0; $ ("#2# $ J1'' $ K# $ ,-C# $ 2#,1;=&' $ J&,(#N $ 0-(&K'8 $ 5'&,(1+,L $ \("#2 $ 9--;,$
+-0(&10$C1O#;$1092#;1#0(,$T*-2$#O&C5'#$#0I#'-5#,$+-0(&10109$5'&,(1+$J10;-J,U$&0;$
+&00-( $ #&,1'8 $ K# $ 2#+8+'#;L $ !"#,# $ +-='; $ K# $ (&O#; $ -2 $ K&00#;L $ 7-C# $ &2#&, $ ,=+" $ &,$
]'&0;#2,$10$6#'91=C$"&I#$2#+-901,#;$("1,$52-K'#C$&0;$"&I#$100-I&(1I#'8$,#($&$(&29#($
*-2$2#,1;=&'$J&,(#N$+=22#0('8$EG?P9$5#2$+&51(&$5#2$8#&2$T_`A$3??P9$5#2$+&51(&$5#2$
8#&2UL$!"1,$1,$&$=,#*='$1;#&$&0;$("#$5-'1+8$,#0;,$-=($&$,(2-09$,190&'$(-$C&0=*&+(=2#2,$(-$
52-;=+#$2#+8+'&K'#$52-;=+(,L
R4A--O9%-;1":<%/-"8-;<0&$+)&
D$'&29#$&C-=0($-*$-=2$J&,(#$1,$5'&,(1+,$&0;$2#'&(#;$C&(#21&',$,=+"$&,$Qd[L$
Q2#,#0('8$-0'8$(J-$(85#,$-*$5'&,(1+,$+&0$K#$2#+8+'#;L$!"#$*12,($P#8$V=#,(1-0$1,$J"&($
J1''$J#$;-$J1("$("#,#$0-0S2#+8+'&K'#$5'&,(1+,j$!"#$,#+-0;$P#8$V=#,(1-0$1,$"-J$;-$J#$
C&P#$+"'-210&(#;$5'&,(1+, $,&*#$ *-2$("#$*=(=2#N$(&P109$10(-$&++-=0($("&($("#12$"19"'8$
5#2,1,(#0($&0;$(-O1+$0&(=2#j$!"#$("12;$P#8$V=#,(1-0$1,$+&0$J#$=,#$5'&,(1+,$&,$&$*=(=2#$
2#,-=2+#j$!"#,#$&2#$0-($,C&''$1,,=#,L$]-2$#O&C5'#N$J#$=,#$G??$K1''1-0$+&221#2$K&9,$
#&+"$8#&2L$!"#8$&2#$=,#;$*-2$&0$&I#2&9#$-*$>?$C10=(#,$&0;$&2#$I12(=&''8$10;#,(2=+(1K'#N$
'&,(109$*-2$+#0(=21#,L$:&08$#0;$=5$&,$C1+2-,+-51+$(1'("$10$("#$-+#&0,L$!"#8$("#0$*10;$
("#12$J&8$10(-$("#$*--;$+"&10$I1&$'=9J-2C,$&0;$K&20&+'#,L
$ /0+10#2&(1-0 $ 1, $ & $ 5--2 $ &0,J#2 $ (- $ ("#,# $ 1,,=#, $ &, $ C&08 $ 5'&,(1+, $ &2#$
-29&0-+"'-210#,$&0;$*-2C$(-O1+$52-;=+(,N$0-(&K'8$;1-O10,N$J"#0$K=20(L$/0$&;;1(1-0$&0$
1C5-2(&0($2#,-=2+#$1,$J&,(#;L$.#$=,#$&K-=($FS3Z$-*$-=2$-1'$(-$52-;=+#$("#,#$5'&,(1+,$
&0;$1($C&P#,$0-$,#0,#$(-$,1C5'8$K=20$("#CL$!"#$K#,($,-'=(1-0$J-=';$K#$(-$,(-5$C&P109$
+"'-210&(#;$5'&,(1+,$10$("#$*12,($5'&+#$10$I1#J$-*$("#12$5#2,1,(#0+#$&0;$(-O1+1(8L$/0,(#&;$
J#$+-=';$C&P#$K1-;#92&;&K'#$5'&,(1+,$TK=($0-(#$("#,#$J1''$K2#&P$;-J0$(-$*-2C$("#$
92##0"-=,#$9&,$C#("&0#UL$D0-("#2$&0,J#2$1,$5'&,C&$9&,1*1+&(1-0L$Q'&,C&$9&,1*1+&(1-0N$
=0'1P#$10+10#2&(1-0$+&0$+-0I#2($+"'-210#SK&,#;$5'&,(1+,$K&+P$(-$("#12$-21910&'$,(&2(109$
C&(#21&'N$0&C#'8$,&'($&0;$J&(#2$&0;$,80("#,1,$9&,$T+&2K-0$C-0-O1;#$&0;$"8;2-9#0UL$
]=2("#2$52-+#;=2#,$+&0$K#$=,#;$(-$+-0I#2($,80("#,1,$9&,#,$10(-$"19"'8$=,#*='$C&(#21&',A$
*=#',$,=+"$&,$#("&0-'$&0;$]1,+"#2S!2-5,+"$;1#,#'$T&$+'#&0#2$*-2C$-*$;1#,#'U$-2$#("8'#0#$
(-$52-;=+#$C-2#$5'&,(1+,L$/($-("#2$J-2;,$1($+-=';$K#$=,#;$(-$K-("$;#(-O1*8$&0;$2#*-2C$
5'&,(1+,L$
R4E--S#0%1":+)-J+@%&$+"#-"8-B1@0#+)-H0$$%1
!"#$52-K'#C,$-*$'&0;*1'',$&2#$("2##*-';L$\0#$1,$("#$52-;=+(1-0$-*$92##0"-=,#$
9&,#,N$5210+15&''8$C#("&0#L$!"#$,#+-0;$1,$("#$,##5109$-*$+"#C1+&',$*2-C$'&0;*1''$,1(#,$
10(-$&V=1*#2,L$!"#$("12;$1,$'&+P$-*$,5&+#L$!"#$*-2C#2$1,$("#$C-,($=29#0($52-K'#C$(-$
,-'I#L $!"# $ C#("&0# $ 1, $ 52-;=+#;$ K8$-29&01+ $J&,(#N $10 $ -("#2$ J-2;, $ 2-((109 $-29&01+$
C&((#2N $K=($0-($K8$5'&,(1+, $T#O+#5( $K1-S;#92&;&K'# $-0#,U$-2$C#(&',L $D($52#,#0($("#$
C#("&0#$1,$K=20($10$&$*'&2#$(-J#2$-2$9&,$9#0#2&(-2$5'&0($&($("#$'&0;*1''$,1(#L$%-J#I#2$
("1,$1,$I#28$10#**1+1#0(L$D$*&2$K#((#2$-5(1-0$1,$(-$2#C-I#$("#$5&5#2N$5'&,(1+,$&0;$C#(&',$
&0;$&''-J$("#$J&,(#$(-$K2#&P$;-J0$10$&0$&0&#2-K1+$;19#,(#2L$!"#$C#("&0#$+&0$("#0$K#$
K=20($10$&$+-CK10#;$"#&($&0;$5-J#2$5'&0($(-$52-;=+#$#'#+(21+1(8$&0;$"#&(L$D,$("1,$
-++=2, $10$ &$,#&'#;$ =01($("# $#0I12-0C#0(&' $1C5&+( $1,$C=+" $'#,, $("&0$&$'&0;*1'' $9&,$
5-J#2$5'&0(L$/*$("1,$(85#$-*$*&+1'1(8$J&,$=,#;$*-2$("#$C&M-21(8$-*$&921+='(=2&'$J&,(#$&0;$
,#J&9# $ ("#0 $ 1( $ +-='; $ ,=55'8 $ FZ $ -* $ ("# $ _`^, $ #'#+(21+1(8 $ &0; $ J-='; $ &',- $ ;1,5'&+#$
+&2K-0$#C1,,1-0,>@3L$
$
R4F--H%)90#+)0<-I+"<"@+)0<-O1%0$/%#$-WHIOX
FX
!"1,$(2#&(C#0($1,$=,#;$#O(#0,1I#'8$10$k#2C&08N$/(&'8$&0;$D=,(21&N$"&,$K##0$10$
=,#$*-2$-I#2$E?$8#&2,$&0;$1,$;=#$(-$K#$10(2-;=+#;$10(-$("#$_`L$!"#$52-+#,,$10I-'I#,$&$
C#+"&01+&'$,(&9#$10$J"1+"$("#$J&,(#$1,$+"-55#;$=5$10(-$*2&9C#0(,$&0;$("#0$,#5&2&(#;$
K8$K#109$5=($("2-=9"$,+2##0,$-*$I&21-=,$,1W#,$&0;$5&,($C&90#(,L$!"1,$52-+#,,$J1''$
,#5&2&(# $ ("# $ J&,(# $ 10(- $ *2&+(1-0, $ J"1+" $ +&0 $ K# $ =,#; $ *-2 $ ;1**#2#0( $ 5=25-,#,L $ ]-2$
10,(&0+#$C#(&',N$C10#2&',$&0;$"&2;$5'&,(1+,$+&0$("#0$K#$2#+8+'#;L$Q&5#2N$(#O(1'#,$&0;$
(1CK#2$+&0$&',-$K#$2#+-I#2#;L$\29&01+$C&((#2$+&0$("#0$K#$K2-P#0$;-J0$K8$+-C5-,(109$
a $("1, $1,$ ("#$K1-'-91+&' $(2#&(C#0(L $!"1, $+&0 $K#$&+"1#I#; $K8$#O5-,109$("#$J&,(#$(-$
&(C-,5"#21+$-O89#0$-2$1($+&0$K#$K2-P#0$;-J0$10$("#$&K,#0+#$-*$-O89#0$T&0&#2-K1+$
;19#,(1-0UL $!"#$2#C&10109$2=KK1,"$+&0$("#0$K#$'&0;*1''#;L$!"1, $52-+#,,$1,$I12(=&''8$
5-''=(1-0S*2##$*#<%&&-$9%-1%/0+#+#@-C%<<%$&-01%-:*1#$$J1("$&''$("#$21,P,$("1,$#0(&1',L$
.1("$:6!$C-,( $-*$("#$-21910&'$9-&', $&2#$K#109$C#(L $/($*&1', $-0$(J-$+-=0(,$-0'8L$
]12,('8$("#2#$1,$,-C#$2#,1;=#$("&($0##;,$'&0;*1''109 $a$("1,$1,$&$C10-2$5-10($K=($("#$
,#+-0;$1,$C-2#$,#21-=,A$:6!$+&00-($+-5#$J1("$&''$(85#,$-*$J&,(#$&,$1($1,$0-($,=1(&K'#$
*-2$"&W&2;-=,$J&,(#L$!"1,$1,$1C5-2(&0($&,$("#$&C-=0($-*$"&W&2;-=,$J&,(#$1,$'1P#'8$(-$
10+2#&,#L$7-$:6!$0##;,$(-$K#$5&2($-*$&$,8,(#CL
$R-(#$("&($2#,1;=#,$*2-C$:6!$"&I#$"&;$("#$-29&01+$C&((#2$2#C-I#;N$,-$("#8$
J1''$0-($52-;=+#$("#$52-K'#C&(1+$92##0"-=,#$9&,#,L$]-2$("1,$2#&,-0$J#$K#'1#I#$1($1,$
J2-09$("&($1($10+=2,$("#$*=''$'&0;*1''$(&O$&,$"&55#0,$&($52#,#0(L
R4G--S6,0#)%6-O9%1/0<-O%)9#"<"@+%&-WSOOX-0#6-;<0&/0-N0&+8+)0$+"#
/0$+-0(2&,($J1("$0-0S("#2C&'$C#("-;,N$&08$("#2C&'$C#("-;$-*$;#&'109 $J1("$
J&,(#$+&221#,$&0$10"#2#0($21,P$-*$+&=,109$*&(&'1(1#,L$6#+&=,#$-*$("1,$("#2C&'$C#("-;,$
,"-=';$-0'8$K#$=,#;$*-2$2#,1;=&'$J&,(#$&*(#2$*=''$,#5&2&(1-0$-*$2#+8+'&K'#,$"&,$(&P#0$
5'&+#L$/*$("#2C&'$C#("-;,$&2#$=,#;N$("#,#$,"-=';$&'J&8,$K#$("#$,&*#,($-0#,$&I&1'&K'#L$
/0 $ #**#+( $ ("1, $ C#&0, $ 5'&,C& $ 9&,1*1+&(1-0 $ -2 $ 9&,1*1+&(1-0 $ =,109 $ ("# $ !"#2C-,#'#+($
52-+#,,L$<&5&0$"&,$C-2#$#O5#21#0+#$-*$10+10#2&(1-0$("&0$&08$-("#2$+-=0(28$&0;$"&,$
,(&2(#; $ (- $ =,# $ 5'&,C& $ 9&,1*1+&(1-0 $ &, $ & $ ,&*#2 $ &'(#20&(1I# $ (- $ 10+10#2&(1-0L $ Q'&,C&$
9&,1*1+&(1-0$1,$&',-$10$=,#$10$[&0&;&L
Q'&,C&$9&,1*1+&(1-0$&+"1#I#,$("#$*10&'$-KM#+(1I#$K8$;1,5-,109$-*$("#$2#,1;=&'$
J&,(# $ &*(#2 $ ,#5&2&(1-0 $ &0; $ 2#+8+'109 $ &0; $ -("#2 $ ,#5&2&(109 $ (#+"0-'-91#, $ ,=+" $ &,$
C#+"&01+&'SK1-'-91+&'$(2#&(C#0(L$/($+&0$;#&'$,&*#'8$J1("$("#$C-,($"&W&2;-=,$(85#,$-*$
J&,(#$&0;$+&0$52-;=+#$=5$(-$("2##$(1C#,$&,$C=+"$#0#298$&,$10+10#2&(1-0L$
k&,1*1+&(1-0$"&,$K##0$#C5'-8#;$K8$("#$0&(=2&'$9&,$10;=,(28$*-2$-I#2$@?$8#&2,$
K=($"&,$0-(N$,-$*&2N$K##0$=,#;$#O(#0,1I#'8$*-2$;#&'109$J1("$J&,(#N$&'("-=9"$,=+"$5'&0(,$
&2#$0-J$10$-5#2&(1-0$10$/(&'8N$7J1(W#2'&0;N$k#2C&08$&0;$<&5&0L$k&,1*1+&(1-0$52-;=+#,$
"19" $ (#C5#2&(=2#, $ &0; $ +&0 $ ("#2C&''8 $ ;#+-C5-,# $ +-C5'#O $ &0; $ "&W&2;-=, $ -29&01+$
C-'#+='#,$10(-$9&,#,$&0;$K#0190$,1C5'#$,=K,(&0+#,L$Q'&,C&$2#*#2,$(-$("#$9&,$J"#0$1($
"&,$K#+-C#$1-01W#;$&0;$("1,$"&55#0,$J"#0$&0$#'#+(21+$+=22#0($1,$5&,,#;$("2-=9"$("#$
9&,L $S-,%12-+/C"1$0#$-6+&$+#)$+"#-81"/-+#)+#%10$+"#-+&-$90$-+$-6"%&-#"$-C1"6*)%0&9L$!"#$9&,$+'#&0109$52-+#,,$+&0$+-0I#2($C&08$+-0(&C10&0(,$10(-$#0I12-0C#0(&''8$
K#0190 $ &0; $ =,#*=' $ K8S52-;=+(,L $ !"# $ &K&(#C#0( $ #V=15C#0( $ -* $ 10+10#2&(-2, $ &0;$
9&,1*1+&(1-0$=01(,$1,$I#28$;1**#2#0(L$/*$("#$&K&(#C#0($#V=15C#0($10$&0$10+10#2&(-2$*&1',N$
&,$1,$&''$(--$+-CC-0N$5#-5'#$;-J0J10;$*2-C$("#$10,(&''&(1-0$J1''$K#$,=KM#+(#;$(-$
;&09#2-=,$5-''=(1-0L $/*$("#$&K&(#C#0($#V=15C#0($10$&$9&,1*1+&(1-0 $=01($*&1',$1($J1''$
+&=,#$,#21-=,$;&C&9#$(-$("#$5'&0($1(,#'*$a$,-$("#$5'&0($"&,$(-$K#$K=1'($(-$&$C=+"$"19"#2$
V=&'1(8L$
/0$&$5'&,C&$9&,1*1+&(1-0$5'&0(N$("#$2#,1;=&'$(-O1+$,=K,(&0+#,$10+'=;109$C#(&',$
K#+-C#$#0+&5,='&(#;$10$,1'1+&(#$J"1+"$1,$'1P#$K#109$#0+&,#;$10$,(-0#L$!"#$5'&0($J1''$
2#C-I#$("#$(-O1+$&0;$5#2,1,(#0($+-C5-=0;,$*2-C$5'&,(1+,$&0;$-("#2$+"#C1+&', $&0;$
F@
2#*-2C$("#CL$D$9--;$V=&'1(8$5'&,C&$9&,1*1+&(1-0$=01($J1''$0-($52-;=+#$&08$&;I#2,#$
2#,1;=#,$-2$K8S52-;=+(,N$-0'8$,80("#,1,$9&,N$,1'1+&N$,='5"=2$&0;$,&'(L$780("#,1,$9&,$1,$&$
=,#*='$K8S52-;=+($J"1+"$+&0$K#$=,#;$&,$&$*=#'c$r$&$C&M-2$*10&0+1&'$&;I&0(&9#$J"1+"$
&''-J,$("#$+&51(&'$+-,(,$-*$("#$=01($(-$K#$5&1;$J1("10$&$X$8#&2$5#21-;L$D'("-=9"$1($1,$&$
2#'&(1I#'8$#O5#0,1I#$52-+#,,N$1($1,$*&2$+"#&5#2$("&0$10+10#2&(1-0$-0+#$("#$"#&'("$+-,(,$
&2#$(&P#0$10(-$&++-=0($T,##$,#+(1-0$bLEUL$R-(#$&',-$("&($1($J-=';$0-($10+=2$+-,(,$=0;#2$
("# $ )=2-5#&0 $ _01-0 $ )C1,,1-0, $ !2&;109 $ 7+"#C#N $ 5-(#0(1&''8 $ ,&I109 $ C1''1-0, $ -*$
5-=0;, $ &00=&''8L $ D $ 2#+#0( $ 2#I1#J $ -* $ 5'&,C& $ 9&,1*1+&(1-0 $ +-0,1;#2#; $ 1( $ (- $ K# $ &$
52-C1,109$&'(#20&(1I#$(-$-';#2$(#+"0-'-91#,$&0;$("&($("#$52#,#0($+'1C&(#$*&I-=2#;$("#$
&;-5(1-0$-*$&;I&0+#;$(#+"0-'-91#,$*-2$J&,(#$(2#&(C#0(>bEL$/*$1($1,$+-CK10#;$J1("$:6!$
&0;$2#+8+'109N$("#0$-0'8$&$,C&''$=01($J-=';$K#$0##;#;L$
/( $ 1, $ 1C5-2(&0( $ (- $ 2#&'1,# $ ("&( $ 9&,1*1+&(1-0 $ ,8,(#C, $ +&0 $ I&28$ 10 $ V=&'1(8 $ &0;$
("#2#*-2#$,&*#(8L $/($1,$+2=+1&'$("&($("#2#$1,$&$9--;$9&,$+'#&0109$,8,(#C$J"1+"$9-#,$
("2-=9"$X$-2$@$,(&9#,L$/($1,$&',-$#,,#0(1&'$("&($(#C5#2&(=2#,$-*$EG??$[$&2#$&+"1#I#;$S$
#0-=9"$(-$K2#&P$;-J0$-29&0-+"'-210#,$&0;$+-0I#2($("#C$K&+P$(-$("#12$-21910&'$,&*#$
*-2CN$,&'($&0;$J&(#2L$
\29&0-+"'-210#,$&2#$52-K&K'8$("#$C-,($52-K'#C&(1+&'$92-=5$-*$+"#C1+&',$-0$
("#$5'&0#($,-$&$2#&'$K#0#*1($-*$("1,$(#+"0-'-98$1,$("&($("1,$52-+#,,$2#I#2,#,$-*$("#$+"'-2S
&'P&'1$52-+#,,$("&($52-;=+#,$-29&0-+"'-210#,$10$("#$*12,($5'&+#
R4R--N1%%#9"*&%-N0&%&
/0+10#2&(1-0$"&,$K##0$,-';$&,$&$,-=2+#$-*$92##0$#0#298$&0;$#I#0$C-2#$K1W&22#'8$
&, $ & $ ,-=2+# $ -* $ 2#0#J&K'# $ #0#298L $ !"1, $ 1, $ *&2 $ *2-C $ ("# $ (2=("L $ /0 $ & $ 2#+#0( $ 2#5-2(N$
10+10#2&(1-0$J&,$*-=0;$(-$K#$,#+-0;$-0'8$(-$+-&'$*12#;$5-J#2$,(&(1-0,$&,$&$52-;=+#2$-*$
92##0"-=,#$9&,#,L
$ %-J#I#2$("1,$1,$-0'8$5&2($-*$("#$52-K'#CL$.1("$10+10#2&(1-0$("#2#$&2#$(J-$
2#'#&,#,$-*$92##0"-=,#$9&,#,$a$-0+#$J"#0$("#$C&(#21&'$1,$K=20($&0;$&0-("#2$J"#0$1($1,$
2#SC&0=*&+(=2#;L$\0+#$J#$&;;$(-$("#$#V=&(1-0$("#$+&2K-0$&0;$-("#2$92##0"-=,#$9&,#,$
52-;=+#; $ J"#0 $ ("#,# $ 52-;=+(, $ &2# $ 2#C&;#N $ &, $ -55-,#; $ (- $ K#109 $ 2#+8+'#;N $ ("#0 $ 1($
K#+-C#,$-KI1-=,$"-J$J2-09$1($J-=';$K#$(-$2#9&2;$10+10#2&(1-0$&,$&$,-=2+#$-*$92##0$
#0#298L$$/0$*&+(N$K#(J##0$(J-$(-$*1I#$(1C#,$C-2#$#0#298$9-#,$10(-$2#C&P109$52-;=+(,$
("&0$("#$#0#298$2#+-I#2#;$*2-C$10+10#2&(109$("#C>b>L
$ 4#+8+'109 $ 1, $ *&2 $ C-2# $ #0#298 $ #**1+1#0( $ ("&0 $ 10+10#2&(1-0 $ &0; $ "&, $ 92#&(#2$
+&2K-0$K#0#*1(,L$.1("$("#$"19"$2&(#,$-*$C#("&0#$+&5(=2#$&,,=C#;$K8$B)]4DN$'&0;*1''$
"&,$,1C1'&2$[\>$#C1,,1-0,$(-$10+10#2&(-2,L$
D'' $ 10+10#2&(-2, $ ,"-='; $ K# $ 2-=(10#'8 $ &,,#,,#; $ *-2 $ ("#12 $ #**#+( $ -0 $ 9'-K&'$
J&2C109L
Y4-O9%-!"&$&-"8-5#)+#%10$+"#
Y43--J+1%)$-0#6-5#6+1%)$-!"&$&
/0+10#2&(1-0$"&,$K##0$2#5-2(#;$(-$K#$C-2#$#O5#0,1I#$("&0$&'(#20&(1I#$J&,(#$
,(2&(#91#,$#I#0$J"#0$"#&'("$+-,(,$&2#$0-($+-0,1;#2#;L$D$2#+#0($;-+=C#0($*2-C$("#$
7+-((1,"$)0I12-0C#0(&'$Q2-(#+(1-0$D9#0+8$#,(1C&(#;$("&($("#$;1,5-,&'$+-,(,$(-$52-+#,,$
&$(-00#$-*$J&,(#$J-=';$K#$sG?S@?$*-2$10+10#2&(1-0$+-C5&2#;$(-$sF?S3?$*-2$&#2-K1+$
;19#,(1-0L$!"#,#$+-,(,$10+'=;#$"19"$(2&0,5-2(&(1-0$+-,(,$&0;$("#$#V=1I&'#0($*19=2#$*-2$
)09'&0;$J-=';$K#$s>?SF?$'-J#2$5#2$(-00#$TC&P109$1($&552-O$s>GSGG$5#2$(-00#$*-2$
10+10#2&(1-0 $&0; $ sG$ 5#2$ (-00# $ *-2 $&#2-K1+ $ ;19#,(1-0UL $!"# $+&51(&' $ +-,(, $ -*$ &#2-K1+$
;19#,(1-0$J-=';$K#$&K-=($"&'*$("&($-*$10+10#2&(1-0>bFL
Fb
$ /( $ 1, $ '1P#'8 $ ("&( $ ("# $ J&,(# $ 10;=,(28 $ J1'' $ +-C# $ =0;#2 $ ("# $ )=2-5#&0 $ _01-0$
)C1,,1-0$!2&;109$7+"#C#$T)!7U$J1("10$("#$0#O($E?$8#&2,N$10$&0$#**-2($(-$-**,#($+&2K-0$
#C1,,1-0,L$!"1,$J-=';$92#&('8$10+2#&,#$("#$+-,($-*$10+10#2&(1-0L$!J-$(-00#,$-*$+&2K-0$
&2#$52-;=+#;$*-2$#I#28$(-00#$-*$J&,(#$K=20#;L$!"#$52#,#0($+-,($5#2$(-00#$-*$+&2K-0N$
=0;#2$)!7N$J1''$K#$&2-=0;$t>?$&0;$("1,$+-,($J1''$92&;=&''8$10+2#&,#N$J"1+"$J-=';$&;;$
&552-O1C&(#'8$sF?$(-$#&+"$(-00#$-*$J&,(#$K=20#;L$[-=0+1',$J1''$("#0$K#$+-CC1((#;$(-$
5&8109$&0$#,+&'&(109$+-,(N$,(&2(109$&($sE>$C1''1-0$5#2$&00=C$T*-2$&$3??N???$(-00#$&$
8#&2$10+10#2&(-2U$*-2$=5$(-$>G$8#&2,lL$/($1,$&$(2&I#,(8$("&($("1,$+-,($,"-=';$*&''$-0$'-+&'$
(&O5&8#2,$,=KM#+(#;$(-$("1,$5-''=(1-0$J"1+"$("#8$;1;$0-($&,P$*-2$&0;$J"1+"$+-=';$K#$
5=((109$("#12$-J0$"#&'("$&($21,PL$.#$K#'1#I#$("&($C&08$+-=0+1',$C&8$K#$=0&J&2#$-*$("#$
1C5'1+&(1-0,$-*$)C1,,1-0,$!2&;109$7+"#C#L
D0-("#2 $ +-0,1;#2&(1-0 $ +-=0+1', $ C&8 $ K# $ =0&J&2# $ -* $ 1, $ ("# $ *10&0+1&'$
1C5&+($-*$4#0#J&K'#$\K'19&(1-0$[#2(1*1+&(#,L$6&,1+&''8$,-C#$J&,(#$;1,5-,&'$,8,(#C,$
J1''$&((2&+($("#,#$+#2(1*1+&(#,N $J"1',($-("#2,$J1''$0-(L$!"#$,8,(#C, $("&($&((2&+($4\[$
+2#;1(, $+-=';$52-;=+#$I#28$,1901*1+&0($10+2#&,#,$10$10+-C#L$!"#,#$J-=';$K#$J-2("$
C1''1-0,$-*$5-=0;,$5#2$&00=C$*-2$("#$J&,(#$+-C5&01#,$-5#2&(109$,=+"$5'&0(,$&0;$*-2$
+-=0+1'$(&O5&8#2,$10$&2#&,$J"#2#$J&,(#$+-C5&01#,$-5#2&(#$,=+"$#V=15C#0($-0$("#12$
K#"&'*L
/0+10#2&(-2,$9#0#2&''8$&((2&+($0-$4\[$5&8C#0(,L$D0$#O+#5(1-0$(-$("1,$1,$&$[%Q$
T+-CK10#; $ "#&( $&0; $5-J#2U$ 10+10#2&(-2 $ J"1+" $&((2&+(, $& $5&8C#0( $ -*$E $ 4\[N$ -2$&$
*2&+(1-0$-*$&0$4\[N$5#2$C#9&J&(($"-=2$-*$5-J#2$9#0#2&(#;$llL$Q'&,C&$9&,1*1+&(1-0$
&0; $ &0&#2-K1+ $ ;19#,(1-0 $ &((2&+( $ & $ 5&8C#0( $ -* $ > $ 4\[,N $ -2 $ &,,-+1&(#; $ *2&+(1-0N $ 5#2$
C#9&J&(($J&(($"-=2$-*$5-J#2$9#0#2&(#;L$!"#,#$(#+"0-'-91#,$&2#$0-($-0'8$*&2$,&*#2$K=($
("1,$5&8C#0($&',-$C&P#,$("#C$&$C=+"$C-2#$&((2&+(1I#$*10&0+1&'$52-5-,1(1-0L
!"#$ 1C5'1+&(1-0 $-*$("1, $1,$("&($&$>??N???$(-00#$5#2$8#&2 $10+10#2&(-2 $J-=';$
&((2&+($0-$5&8C#0($K=($&$>??N???$(-00#$5#2$8#&2$5'&,C&$9&,1*1+&(1-0$=01($J-=';$&((2&+($
&$5&8C#0($-*$s3Lb$C1''1-0$5#2$&00=C$lllL$!"1,$J-=';$&''-J$("#$J&,(#$+-C5&08$(-$
-**#2$&$,=K,(&0(1&'$2#;=+(1-0$10$("#12$+"&29#$(-$("#$+-=0+1'$*-2$#&+"$(-00#$-*$J&,(#$
2#+#1I#;L$!"1,$J-=';N$10$(=20N$'#&;$(-$'&29#$,&I109,$*-2$K-("$+-=0+1'$(&O5&8#2,FL$
$%-J#I#2N$+&'+='&(1-0$-*$("#$(-(&'$+-,(,$-*$;1**#2#0($C#("-;,$-*$9#((109$21;$-*$
J&,(#$C=,($0-($-0'8$10+'=;#$("#$,#(S=5$&0;$2=00109$+-,(,$K=($&',-$("#$#0I12-0C#0(&'N$
"=C&0 $ &0; $ "#&'(" $ +-,(,L $ /0 $ ("# $ +&,# $ -* $ 10+10#2&(1-0N $ "=C&0 $ &0; $ "#&'(" $ +-,(, $ &2#$
,=K,(&0(1&' $ K=( $ (#0; $ (- $ K# $ -I#2'--P#; $ K#+&=,# $ ("#8 $ +-C# $ -=( $ -* $ &0-("#2 $ K=;9#(L$
%-J#I#2 $ ("# $ "#&'(" $ +-,(, $ J1'' $ "&I# $ (- $ K# $ 5&1; $ *-2 $ &0; $C=,( $ K# $ 10+'=;#; $ 10 $ ("#$
#V=&(1-0L$B#&'109$J1("$("#$&,"$52-;=+#;$K8$10+10#2&(-2,$2#52#,#0(,$&0-("#2$C&M-2$+-,($
(-$,-+1#(8N$J"1+"$&9&10$J1''$+-C#$-=($-*$,-C#-0#$#',#^,$K=;9#(L$$!"#,#$&2#$0-($,C&''$
+-,(,$&0;$(-$91I#$,-C#$1;#&$-*$("#$C&901(=;#$-*$("#$+-,(,$10I-'I#;N$1($J&,$#,(1C&(#;$
("&($10$Ebb>$("#$K1''$*-2$2#C#;1&(109$&''$("#$+-0(&C10&(#;$J&,(#$,1(#,$10$("#$_7D$J&,$
hXG?$K1''1-0>b3L$
l$D'("-=9"$("#,#$+"&29#,$J1''$K#$;12#+(#;$&($("#$J&,(#$52-;=+#2N$+-0(2&+($+'&=,#,$52-(#+(109$
("#C$J1''$#0,=2#$("#,#$"19"$+-,(,$&2#$5&,,#;$-0L$
ll$4\[$5&8C#0(,$2#'&(#;$(-$2#0#J&K'#$#0#298$9#0#2&(#;$K8$J&,(#$*&+1'1(1#,$&2#$K&,#;$-0$("#$
5#2+#0(&9#$-*$*##;,(-+P$("&($+&0$K#$+'&,,#;$&,$2#0#J&K'#L$.&,(#$1,$0-($&$J"-''8$2#0#J&K'#$,=K,(&0+#$
&0; $ 1, $ ;##C#; $ K8 $ \*9#C $ (- $ +-0(&10 $ G?Z $ 2#0#J&K'# $ +-0(#0(L $ !"#2#*-2#N $ -0'8 $ "&'* $ & $ C#9&J&(( $ -*$
2#0#J&K'#$#'#+(21+1(8$J1''$K#$9#0#2&(#;$J"#0$-0#$C#9&J&(($-I#2&''$1,$9#0#2&(#;L$D,$&$+-0,#V=#0+#$-*$
("1,N$("#$C#9&J&(($9#0#2&(#;$J1''$-0'8$&((2&+($"&'*$&0$4\[L
lll$ $&$>??N???$(-00#$5#2$&00=C$ $5'&,C&$9&,1*1+&(1-0$=01($J-=';$K=20$>3$(-00#,$5#2$"-=2$
52-;=+109$E3$C#9&J&((,$$5#2$"-=2$-2$E>>NY3?$C#9&J&(($"-=2,$5#2$&00=CL$/($1,$&,,=C#;$("&($G?Z$-*$
("1,$*=#'$1,$2#0#J&K'#$&0;$"#0+#$("#2#$J1''$K#$&$2#K&(#$-*$G?Z$-0$("#$E>>NY3?$C#9&J&((,$-*$#'#+(21+1(8$
52-;=+#;$T>$4\[,$5#2$:."$O$?LGUL$)&+"$C#9&J&(($J-=';$&((2&+($&$5&8C#0($-*$&552-O1C&(#'8$s3?L$
!"1,$&C-=0(,$(-$&$,&I109$-*$s3Lb$C1''1-0$5-=0;,$5#2$&00=CL
3?
Y47--=%0<$9-!"&$&-"8-5#)+#%10$+"#
!"# $"#&'(" $+-,(, $ -*$ 10+10#2&(1-0 $&2# $"=9#L$D$EbbY $2#5-2( $K8$("# $)=2-5#&0$
[-CC1,,1-0$,=99#,(#;$("&($*-2$#I#28$(-00#$-*$J&,(#$K=20($("#2#$J-=';$K#$K#(J##0$
s>E$&0;$sE>Y$-*$"#&'("$&0;$#0I12-0C#0(&'$;&C&9#N$C#&0109$("&($&$3??N???$(-00#,$5#2$
8#&2$10+10#2&(-2$J-=';$+-,($("#$(&OS5&8#2$K#(J##0$sbN???N???$&0;$sGXN???N???$5#2$
8#&2>bGA$("1,$*19=2#$J&,$K&,#;$-0$#&2'1#2$;&(&$J"#0$#C1,,1-0,$(-$&12$J#2#$,-C#J"&($
"19"#2 $ ,- $ 0-J $ ("#,# $ +-,(, $ J-='; $ K# $ #O5#+(#; $ (- $ K# $ '#,,L $ T%-J#I#2 $ 0-(# $ ("#$
+-22#,5-0;109$10+2#&,#$10$+-,(,$("&($1,$0-J$0##;#;$(-$C&P#$*'8$&,"$,&*#L$!"#$K#((#2$("#$
5-''=(1-0$+-0(2-'$("#$C-2#$(-O1+$("#$2#,1;=#,$J1''$K#$&0;$("#$C-2#$#O5#0,1I#$("#8$J1''$
K#$(-$;#&'$J1("LU
7(=;1#, $ ("&( $ "&I# $ (21#; $ (- $ #,(1C&(# $ ("# $ +-CK10&(1-0 $ -* $ &'' $ ("#,# $ +-,(, $ -*$
10+10#2&(1-0$"&I#$+-C#$=5$J1("$&,(-01,"109'8$"19"$*19=2#,L$B)]4D^,$2#5-2($10$>??3$
*-=0;$("&($("#$"#&'("$+-,(,$*2-C$Q:E?$ 5&2(1+='&(#,$*2-C$10+10#2&(-2,$&'-0#N$=,109$&$
+#0(2&'$(-$"19"$#,(1C&(#N$J-=';$K#$sFbN>3G$5#2$(-00#$-*$5&2(1+='&(#,$#C1((#;$TR6$0-($
5#2$(-00#$-*$J&,(#$K=20(U>bYL$ $D$3??N???$(-00#$5#2$8#&2$10+10#2&(-2$J-=';$52-;=+#$
&K-=($>3N???P9$T>3$(-00#,U$-*$5&2(1+='&(#,$5#2$8#&2$&0;$("#$B)]4D$#,(1C&(#$-*$"#&'("$
+-,(,$J-=';$K#$sb3EN???$5#2$&00=CL
$ %-J#I#2$B)]4D$'--P#;$&($EF$,(=;1#,$-*$Q:>LG$ &0;$Q:E?$ 5&2(1+='&(#,$&0;$
0-(#;$("&($("#$"#&'("$+-,(,$2&09#;$*2-C$s>N???$S$sF??N???$5#2$(-00#$*-2$Q:>LG,$ &0;$
sEN@??$S$s>>YNX??$*-2$Q:E?,L$!"#,#$#,(1C&(#,$J#2#$K&,#;$-0$C-;#''109$;&(&$J"1+"$*-2$
2#&,-0,$;#,+21K#;$10$,#+(1-0$E>$&2#$'1P#'8$(-$=0;#2#,(1C&(#$5&2(1+='&(#$#C1,,1-0,L$/0$
5&2(1+='&2 $ ("#8 $ ;- $ 0-( $ (&P# $ 10(- $ &++-=0( $ 2#+#0( $ ;&(& $ ;#C-0,(2&(109 $ "19" $ '#I#', $ -*$
5-''=(&0(,$#C1((#;$;=2109$,(&2(S=5$&0;$,"=(S;-J0L$/($1,$("#2#*-2#$2#&,-0&K'#$(-$&,,=C#$
("&($("#$&+(=&'$"#&'("$+-,(,$J-=';$K#$&($("#$"19"#2$#0;$-*$("#$2&09#N$J1("$&$+-,($-*$
s>>YNX??$5#2$(-00#$*-2$Q:E?,$&0;$sF??N???$5#2$(-00#$*-2$Q:>LG,$91I109$&$(-(&'$"#&'("$
+-,($5#2$&00=C$*-2$5&2(1+='&(#,$&'-0#$-*$sYLG$C1''1-0$llllL$!-$91I#$&$2#&'1,(1+$#,(1C&(#$
-*$("#$"#&'("$+-,(,$-*$10+10#2&(1-0N$("#$&;;1(1-0&'$+-,(,$*2-C$("#$-("#2$5-''=(&0(,$C=,($
K#$&;;#;$(-$("1,L$
/0$&$2#I1#J$-*$"#&'("$+-,(,$-*$10+10#2&(1-0$),"#(>bX$0-(#;$("#$+-C5'#O1(8$&0;$
;1**1+='(8$-*$("#,#$+&'+='&(1-0,N$J1("$#,(1C&(#,$I&28109 $K#(J##0$hELF$&0;$hEXE$5#2$
(-00#$-*$J&,(#$K=20(L$D$,(=;8$-*$621(1,"$10+10#2&(-2,$#,(1C&(#;$("#$+-,($(-$K#$K#(J##0$
h>L3>$&0;$hEFLEY$5#2$(-00#$-*$J&,(#$K=20(>b@L$$:-,($-*$("#,#$,(=;1#,$;-$0-($(&P#$10(-$
&++-=0($("#$+-,($-*$&,"N$("#$+-,($-*$+'#&0S=5$-*$&++1;#0(,$-2$J&(#2$+-0(&C10&(1-0$-2$("#$
C-2#$,=K('#$"#&'("$#**#+(,$,=+"$&,$K#"&I1-=2&'$+"&09#,N$2#;=+(1-0$10$/gN$2#52-;=+(1I#$
&0; $ "-2C-0&' $ #**#+(, $ J"1+" $ "&I# $ K#+-C# $ &55&2#0( $ 10 $ 2#+#0( $ 8#&2, $ J1(" $ C&08$
5-''=(&0(,$,=+"$&,$'#&;$&0;$-29&0-+"'-210#,L$]-2$("1,$2#&,-0$1($1,$'1P#'8$("#$+-,(,$&2#$
+-0,1;#2&K'8$"19"#2$("&0$#,(1C&(#;L$6&,#;$-0$("#$*10;109,$-*$&''$("#,#$,(=;1#,$J#$+&0$
#,(1C&(#$("&($&$3??N???$(-00#$&$8#&2$10+10#2&(-2$J1''$+&=,#$C1''1-0,$-*$5-=0;,$J-2("$
-*$"#&'("$;&C&9#$&00=&''8L- !"#,#$'&29#$"#&'("$+-,(,$&'-0#$+'#&2'8$;#C-0,(2&(#$("&($
10+10#2&(-2,$C&P#$&$5--2$+"-1+#$*-2$J&,(#$C&0&9#C#0(L$."#0$&$,109'#$10+10#2&(-2$+&0$
9#0#2&(# $ "#&'(" $ +-,(, $ -*$ C&08 $ C1''1-0, $ -* $ 5-=0;, $ #I#28 $ 8#&2N $ &++-2;109 $ (- $ ("#$
9-I#20C#0(^,$-J0$;&(&N$1($1,$&K,=2;$(-$&29=#$("&($10+10#2&(-2,$&2#$,&*#L$$
/( $ 1, $ "&2; $ (- $ ,## $ &08 $ M=,(1*1+&(1-0 $ *-2 $ ("#,# $ "=9# $ "#&'(" $ +-,(, $ J"#0 $ -("#2$
C#("-;, $ ,=+" $ &, $ C#+"&01+&' $ K1-'-91+&' $ (2#&(C#0( $ T:6!UN $ &#2-K1+ $ ;19#,(1-0 $ &0;$
5'&,C& $ 9&,1*1+&(1-0 $ J1(" $ '-J $ #0I12-0C#0(&' $ &0; $ "#&'(" $ +-,(, $ T,## $ ,#+(1-0 $ @U $ &2#$
&I&1'&K'#L$!"#,#$C#("-;,$"&I#$0-($K#109$91I#0$,=**1+1#0($+-0,1;#2&(1-0$10$("#$_`L$
:6! $ 1, $ 2#'&(1I#'8 $ +"#&5 $ K=( $ 5'&,C& $ 9&,1*1+&(1-0 $ 1, $ C-2# $ #O5#0,1I# $ (- $ 10,(&''L$
%-J#I#2N$1*$("#$"#&'("$+-,(,$&2#$(&P#0$10(-$&++-=0($5'&,C&$9&,1*1+&(1-0$1,$I#28$C=+"$
+"#&5#2$("&0$10+10#2&(1-0L$/($C&P#,$0-$'-91+&'$,#0,#$(-$=,#$&$C#("-;$-*$J&,(#$;1,5-,&'$
3E
("&($"&,$&$(-(&'$+-,($*&2$10$#O+#,,$-*$-("#2$C#("-;,L$D0;$J#$C=,($&,P$1,$1($C-2&''8$
&++#5(&K'#$(-$P0-J109'8$10+=2$,=+"$"19"$"#&'("$+-,(,L$
llll$!"1,$+&'+='&(1-0$1,$&,$*-''-J,L$!"#$g=&'1(8$-*$_2K&0$D12$4#I1#J$k2-=5$"&,$#,(1C&(#;$
("&($("#$Q:>LG$*2&+(1-0$-*$(-(&'$5&2(1+='&(#,$1,$K#(J##0$>@Z$&0;$E??ZL$H#&I109$&,1;#$("#$'1P#'1"--;$("&($
("#$Q:>LG$ *2&+(1-0 $1,$"19"#2$*2-C$10+10#2&(-2$#C1,,1-0,$&0$&I#2&9#$*19=2#$-*$Y?Z$Q:>LLG,$J-=';$K#$
'1P#'8L$!"1,$+&'+='&(1-0$("#2#*-2#$#,(1C&(#,$("&($&$3??N???$(-00#$10+10#2&(-2$J-=';$52-;=+#$>3$(-00#,$-*$
5&2(1+='&(#,N$("&($Y?Z$J-=';$K#$Q:>LG$5&2(1+='&(#,$&($&$+-,($-*$s3LF>$C1''1-0$5#2$&00=C$&0;$3?Z$J-=';$
K#$&($("#$'-J#2$+-,($*-2$-("#2$Q: E?,$+-,(109$s>LE@$C1''1-0$5#2$&00=CL$!"#$(-(&'$+-,($10$"#&'("$;&C&9#$
*2-C$5&2(1+='&(#,$J-=';$("#2#*-2#$K#$sYLG$C1''1-0$5#2$&00=CL
Y4>--Z+#0#)+0<-N0+#&-81"/-L%6*)+#@-;"<<*$+"#
!"# $ )[ $ \P-5-' $ 2#5-2( $ -* $ Ebbb>bb$ +&'+='&(#; $ ("&( $ #I#28 $ 5-=0; $ ,5#0( $ -0$
5-''=(1-0$&K&(#C#0($,&I#;$sY$10$"#&'("$+&2#$+-,(,$&0;$s3$10$,-+1&'$,#+=21(8$+-,(,L$D$
2#5-2($*2-C$("#$_7$)0I12-0C#0(&'$Q2-(#+(1-0$D9#0+8$&',-$2#+P-0#;$("&($#I#28$;-''&2$
,5#0($-0$&K&(#C#0($,&I#;$E?$;-''&2,$10$"#&'("$+-,(,L
/0$&;;1(1-0N$&$."1(#$%-=,#$,(=;8$K8$("#$\**1+#$-*$:&0&9#C#0($&0;$6=;9#($10$
>??F $ +-0+'=;#; $ ("&( $ #0*-2+109 $ +'#&0 $ &12 $ 2#9='&(1-0, $ '#; $ (- $ 2#;=+(1-0, $ 10$
"-,51(&'1,&(1-0,N$#C#29#0+8$2--C$I1,1(,N$52#C&(=2#$;#&(",$&0;$'-,($J-2P;&8,$J"1+"$
'#; $ (- $ & $ ,&I109 $ -* $ K#(J##0 $ hE>? $ &0; $ hEbF $ K1''1-0 $ K#(J##0 $ \+(-K#2 $ Ebb> $ &0;$
7#5(#CK#2$>??>L$!"1,$1,$&0$=0;#2#,(1C&(#$&,$1($;1;$0-($'--P$&($-("#2$"#&'("$,&I109,$
,=+"$&,$52#,+215(1-0$+-,(,$&0;$521C&28$+&2#$+-,(,L$]#J$-("#2$C#&,=2#,$(-;&8$J-=';$
91I#$,-$;2&C&(1+$&$"#&'("$K#0#*1($&0;$,=+"$&$'&29#$,&I109$10$"#&'("$+-,(,F??L
Y4A--B$9%1-.$*6+%&-"8-$9%-=%0<$9-!"&$&-"8-;"<<*$+"#
4#+#0($,(=;1#,$"&I#$;2&J0$&((#0(1-0$(-$("#$"=9#$=0&0(1+15&(#;$+-,(,$(-$,-+1#(8$
-* $ 5-''=(1-0 $ *2-C $ -("#2 $ ,-=2+#,L $ !"# $ /0(#20&(1-0&' $ <-10( $ [-CC1,,1-0^, $ 7+1#0+#$
D;I1,-28$ 6-&2;N $("# $ .-2P92-=5 $-0$)+-,8,(#C $%#&'(" $T7D6S.k)%U$'--P#; $&($&$
,#21#,$-*$"#&'("$52-K'#C,$J"#2#$("#2#$J&,$"&2;$#I1;#0+#$*-2$#0I12-0C#0(&'$+&=,&(1-0L$
4#&,-0#; $ &29=C#0(, $ ,=99#,(#; $ ("&( $ ("# $ +-0(21K=(1-0 $ C&;# $ K8 $ (-O1+ $ ,=K,(&0+#, $ (-$
("#,#$"#&'("$52-K'#C,$J&,$K#(J##0$E?$&0;$G?ZL$]-=2$"#&'("$52-K'#C,$J"1+"$("#8$
+-0,1;#2#;$+-0+#20$=,$"#2#N$K#+&=,#$("#8$10I-'I#$5-''=(&0(,$,1C1'&2$(-$("-,#$2#'#&,#;$
*2-C$10+10#2&(-2,L$!"#,#$&2#$0#=2-;#I#'-5C#0(&'$;#*#+(,N$"85-("82-1;1,CN$'-,,$-*$G$
/g $ 5-10(, $ &0; $ Q&2P10,-0^, $ ;1,#&,#L $ !"# $ +=C='&(1I# $ +-,(, $ 10 $ ("# $ _7D $ *-2 $ ("#,#$
;1,-2;#2,$&'-0#$J#2#$+-0,1;#2#;$(-$K#$K#(J##0$hFX?$&0;$hG>?$K1''1-0$5#2$8#&2L$)I#0$
=,109 $ ("# $ '-J#,( $ #,(1C&(# $ -* $ #0I12-0C#0(&' $ +-0(21K=(1-0 $ TE?ZUN $ ("# $ +-,(, $ ;=# $ (-$
5-''=(&0(,$J&,$h3?$K1''1-0$;-''&2,$&00=&''8F?EL$
!"#$..]$10I#,(19&(#;$("2##$+-0;1(1-0,$r$C#0(&'$2#(&2;&(1-0N$+#2#K2&'$5&',8$
&0;$&=(1,C$r$(-$&,,#,,$("#$1C5&+($-*$+"#C1+&'$5-''=(1-0N$&0;$+&'+='&(#;$("#$+-,($-*$
(-O1+ $ +"#C1+&', $ -0 $ +"1';2#0^, $ K2&10 $ ;#I#'-5C#0( $ (- $ K# $ &552-O1C&(#'8 $ sE $ K1''1-0$
&00=&''8F?>L
3[4---B$9%1-!"#&+6%10$+"#&-"8-5/C"1$0#)%
3[43--O9%-;1":<%/-"8-S&9
!"#$10+10#2&(1-0$-*$J&,(#$52-;=+#,$&$'&29#$&C-=0($-*$&,"N$&C-=0(109$(-$F?Z$
-*$("#$J#19"($-*$("#$-21910&'$J&,(#c$3?SG?Z$-*$("#$I-'=C#$-*$+-C5&+(#;$J&,(#L$$!"1,$
1,$1C5-2(&0($&,$'&0;*1''$,1(#,$&2#$K#+-C109$'#,,$&0;$'#,,$&I&1'&K'#$,-$("#2#$1,$&0$=29#0($
0##;$*-2$&$J-2P&K'#$&'(#20&(1I#L$/($1,$+'#&2$("&($10+10#2&(1-0$J1''$0-($,-'I#$("#$'&0;*1''$
52-K'#C$,10+#$1($+&0$-0'8$2#;=+#$("#$K='P$K8$M=,($=0;#2$"&'*L$H1(('#$("-=9"($"&,$K##0$
3>
91I#0$(-$("1,$&0;$10+10#2&(-2$-5#2&(-2,$&2#$,(1''$K#109$91I#0$>?$(-$F?$8#&2$+-0(2&+(,$
+2#&(109$52-K'#C,$*-2$("#$*=(=2#L$
/0+10#2&(-2, $ 52-;=+#$ (J-$(85#, $-*$ &,"N$K-((-C$ &,"$ &0;$ *'8 $ &,"N$ ,-C#(1C#,$
+&''#;$&12$5-''=(1-0$+-0(2-'$TDQ[U$2#,1;=#,L$!"#$'&((#2$1,$"19"'8$(-O1+$&0;$'1,(#;$&,$&0$
&K,-'=(# $ "&W&2;-=, $ ,=K,(&0+# $ 10 $ ("# $ )=2-5#&0 $ .&,(# $ [&(&'-9=#L $ /( $ "&, $ "19"$
+-0+#0(2&(1-0$-*$"#&I8$C#(&',$&0;$;1-O10,L$:&08$,=K,(&0+#,$,=+"$&,$C#(&',$"&I#$'1(('#$
(-O1+1(8$K#*-2#$10+10#2&(1-0$K=($K#+-C#$"&W&2;-=,$-0+#$+-0I#2(#;$(-$5&2(1+='&(#,$-2$
*10#$5&2(1+'#, $10 $("#$&,"L $/0$*&+(N$("#$+-CK10&(1-0 $-*$5-''=(&0(, $10$("#$*'8$&,"$+&0$
&C5'1*8$("#$(-O1+1(8L$_,109$&$K1-'-91+&'$(#,(N$2#,#&2+"#2,$*-=0;$("&($("#$(-O1+1(8$10$*'8$
&,"$J&,$*1I#$(1C#,$92#&(#2$("&0$+-=';$K#$&++-=0(#;$*-2$K8$("#$+-0(#0($-*$;1-O10,N$
*=2&0,$&0;$Q[6,F?FL
!"#2# $ 1, $ & $ K&,1+ $ 52-K'#C $ J1(" $ C-;#20 $ 10+10#2&(-2,L $ !"# $ '#,, $ &12 $ 5-''=(1-0$
52-;=+#;N$("#$C-2#$(-O1+$("#$&,"L$)&2'8$10+10#2&(-2,$#C1((#;$'&29#$I-'=C#,$-*$;1-O10,L$
!"#,#$#C1,,1-0,$"&I#$K##0$,1901*1+&0('8$2#;=+#;N$K=($&($("#$+-,($-*$&$+-22#,5-0;109$
10+2#&,# $ 10 $ ("# $ *'8 $ &,"N $ J1(" $ ,1C1'&2 $ 10+2#&,#, $ 10 $ "#&I8 $ C#(&', $ &0; $ -("#2 $ (-O1+$
+"#C1+&',L$D0$10+10#2&(-2$K=20109$3??N???$(-00#,$-*$J&,(#$&00=&''8$*-2$1(,$>G$8#&2,$
-*$-5#2&(1-0$J-=';$52-;=+#$&552-O1C&(#'8$"&'*$&$C1''1-0$(-00#,$-*$"19"'8$(-O1+$*'8$
&,"FL$D5&2($*2-C$I1(21*1+&(1-0N$0-$&;#V=&(#$C#("-;$-*$;1,5-,109$-*$*'8$&,"$"&,$K##0$
*-=0;L$!"#$)_$[-CC1,,1-0$"&I#$,(&(#;$("&($'#&+"109$*2-C$'&0;*1''$,1(#,$C&8$K#$-0#$
-*$("#$C-,($1C5-2(&0($,-=2+#,$-*$;1-O10,$10$("#$*=(=2#L$%#&I8$C#(&',$&2#$P0-J0$(-$
"&I#$"19"$'#&+"&K1'1(8L$!"#$_7$)0I12-0C#0(&'$Q2-(#+(1-0$D9#0+8$+-0,1;#2,$("&($&''$
'&0;*1'', $ #I#0(=&''8 $ '#&+" $ ("2-=9" $ ("#12 $ '10#2,L $ D, $ C-,( $ -* $ ("#,# $ 5-''=(&0(, $ &2#$
5#2,1,(#0(N$52-K&K'8$'&,(109$*-2$+#0(=21#,N$("#8$J1''$,--0#2$-2$'&(#2$("2#&(#0$("#$J&(#2$
(&K'#$&0;$&V=1*#2,$J"#2#$("#12$2#C-I&'$J-=';$K#$0#&2$1C5-,,1K'#L$D''-J109$("1,$(-$
(&P#$5'&+#$1,$&0$&K;1+&(1-0$-*$-=2$2#,5-0,1K1'1(8$(-$*=(=2#$9#0#2&(1-0,L
/0 $ ,51(# $ -* $ ("# $ C&,,1I# $ "#&'(" $ 21,P, $ &,,-+1&(#; $ J1(" $ *'8 $ &," $ 1( $ 1, $ 5--2'8$
2#9='&(#;L$D($68P#2N$0#&2$R#J+&,('#S=5-0S!80#N$>???$(-00#,$-*$*'8$&,"$'&;#0$J1("$
;1-O10,$J&,$,52#&;$-I#2$&''-(C#0(,N$K21;'#$5&(",$&0;$*--(5&(",$*-2$,1O$8#&2,$K#(J##0$
Ebb3 $ &0; $ >???L $ !"1, $ +&I&'1#2 $ &552-&+" $ (- $ C&0&9109 $ (-O1+ $ J&,(# $ &55#&2, $ (- $ "&I#$
+"&09#; $ '1(('#L $ /0 $ <&0=&28 $ >??@N $ & $ 2#+#0('8 $ 5#2C1((#; $ "&W&2;-=, $ J&,(# $ ,1(# $ &($
Q&;#,J--; $ T*-2 $ ,(-2109 $ *'8 $ &," $ *2-C $ & $ +#C#0( $ P1'0U $ J&, $ *'--;#;L $ ]-2(=0&(#'8 $ 0-$
"&W&2;-=,$J&,(#$"&;$K##0$,(-2#;$&($("#$(1C#$-("#2J1,#$1($J-=';$"&I#$+&221#;$("#$(-O1+$
J&,(# $ 10(- $ K2--P, $ &0; $ ("#0+# $ 10(- $ ("# $ 41I#2 $ D'80 $ *2-C $ J"#2# $ ;210P109 $ J&(#2 $ 1,$
#O(2&+(#;L$
$.-2P#2,$&2#$-*(#0$#O5-,#;$(-$("1,$&,"$J1("-=($52-(#+(1I#$9#&2L$)I#0$(-;&8$("1,$
C&(#21&' $ "&, $ K##0 $ *--'1,"'8 $ =,#; $ *-2 $ +-0,(2=+(1-0 $ 5=25-,#, $ 190-2109 $ 1(, $ (-O1+$
52-5#2(1#,$&0;$("#$5-(#0(1&'$*-2$("#$2#'#&,#$-*$5-''=(&0(,$;=2109$=,#$&0;$*2-C$-2;10&28$
J#&2$&0;$(#&2L
]'8$&,"$0##;,$(-$K#$(2&0,5-2(#;$&J&8$*2-C$("#$10+10#2&(-2$&0;$("1,$+&0$10I-'I#$
'#09("8$M-=20#8,L$!"#,#$2#52#,#0($&0$1C5-2(&0($"&W&2;L$D0$&++1;#0($+-=';$5-(#0(1&''8$
C&P#$&0$&2#&$=010"&K1(&K'#N$&,$"&55#0#;$&($!1C#,$6#&+"N$:1,,-=21N$;=#$(-$;1-O10S
+-0(&C10&(#; $ -1'L $ !"#,# $ 5-(#0(1&' $ +-,(, $ "&I# $ 8#( $ (- $ K# $ *&+(-2#; $ 10(- $ ("# $ +-,($
+&'+='&(1-0,$-*$10+10#2&(-2,L$
6-((-C$&,"$1,$&$'#,,$,#I#2#$"&W&2;N$K=($,(1''$+-0(&10,$,1901*1+&0($V=&0(1(1#,$-*$
;1-O10,N$-29&0-"&'-9#0,$&0;$"#&I8$C#(&',L$/($1,$#O(2&-2;10&28$("&($J"#2#&,$2#9='&(1-0,$
"&I#$(19"(#0#;$10$2#+#0($8#&2,$(-$2#;=+#$;1-O10$#C1,,1-0,$(-$&12N$K-((-C$&,"N$J"1+"$
+-0(&10,$>?$(1C#,$C-2#$;1-O10N$1,$=02#9='&(#;$&0;$K1W&22#'8$1,$2#9&2;#;$&,$10#2($J&,(#L$
!"1,$C1,+'&,,1*1+&(1-0$"&;$&''-J#;$1($(-$K#$+"&29#;$&($("#$'-J#,($2&(#$&($'&0;*1''$,1(#,L$
.#$K#'1#I#$("1,$1,$J2-09A$1($1,$0-($10#2($&0;$,"-=';$0-($K#$+'&,,1*1#;$&,$,=+"L$/($,"-=';$
K#$+"&29#;$&($&$2&(#$("&($1,$10$P##5109$J1("$1(,$(-O1+1(8L$
3F
!"#$7(-+P"-'C$[-0I#0(1-0$C&P#,$1($+'#&2$("&($;1-O10,$&0;$*=2&0,$,"-=';$K#$
;#,(2-8#;N $ J"1+" $ +=22#0('8 $ C#&0, $ =,109 $ I1(21*1+&(1-0L $ /0 $ <&5&0N $ ("1, $ 1, $ ;-0#$
2#,5-0,1K'8$&0;$C=+"$-*$("#$*'8$&,"$1,$0-J$(2#&(#;$K8$5'&,C&$9&,1*1+&(1-0$K=($("1,$
#,,#0(1&'$,&*#(8$,(#5$"&,$K##0$0#9'#+(#;$10$("#$_`L$6#+&=,#$-*$("#$(-O1+1(8$-*$K-((-C$
&0;$*'8$&,"$("#2#$,"-=';$K#$&$*=''$&,,#,,C#0($-*$("#$+-,($-*$&$+'#&0S=5$-5#2&(1-0$*-2$
K-("$J&(#2$&0;$'&0;$+-0(&C10&(1-0L$)0I12-0C#0(&'$+'#&0S=5$+-,(,$,"-=';$K#$,"-J0$&,$
5&2($-*$("#$+-,($-*$10+10#2&(1-0N$&0;N$J"#0$2#'#I&0(N$-*$-("#2$J&,(#$;1,5-,&'$,(2&(#91#,L
3[47--L06+"0)$+,+$2
0X-S&&")+0$%6-_+$9-5#)+#%10$"1&
\I#2 $ ("12(8 $ ,1(#, $ 10 $ ("# $ _` $ 10+10#2&(# $ 2&;1-&+(1I# $ J&,(#L $ :-,( $ +-=0(21#,$
+-0,1;#2$("1,$(--$"&W&2;-=,L$
!"# $ C&M-21(8 $ -* $ 2&;1-&+(1I# $ J&,(# $ 10+10#2&(#; $ 10 $ ("# $ _` $ 1, $ &'5"& $ -2 $ K#(&$
#C1((109$2&;1&(1-0L$!"#,#$(85#,$-*$2&;1&(1-0$&2#$0-($I#28$;&09#2-=,$-=(,1;#$("#$"=C&0$
K-;8$;=#$(-$("#12$,"-2($2&09#$TJ1("10$(1,,=#,$("1,$1,$C1''1C#(2#,$*-2$&'5"&$5&2(1+'#,$&0;$
+#0(1C#(2#,$J1("$K#(&$5&2(1+'#,UN$&'("-=9"$K#(&$2&;1&(1-0$+&0$5#0#(2&(#$("#$,P10L-\0+#$
10+10#2&(#; $ ("1, $ 2#'&(1I#'8 $ ,&*# $ C&(#21&' $ 1, $ +-0I#2(#; $ 10(- $ & $ "19"'8 $ ;&09#2-=, $ &0;$
,101,(#2 $ 5-''=(&0(L$ B=2109 $ 10+10#2&(1-0N $ K1''1-0, $ -* $ 2&;1-&+(1I# $ 5&2(1+='&(#, $ J1'' $ K#$
*-2C#;$&0;$#C1((#;$10(-$("#$&12L$!"#,#$C&8$K#$10"&'#;$K8$&08-0#$=0*-2(=0&(#$#0-=9"$
(-$K#$;-J0J10;$&($("#$J2-09$(1C#N$&0;$5&,,$("2-=9"$("#$'=09,$&0;$+12+='&(1-0$&0;$
("#0$10(-$("#$+#'',L$\0+#$10,1;#$("#$K-;8$1($J1''$+-0(10=#$(-$#C1($2&;1&(1-0L$D'5"&$
2&;1&(1-0 $"&,$&$I#28$,"-2($2&09#$K=($92#&($;#,(2=+(1I#$5-J#2L$6-("$&'5"&$&0;$K#(&$
2&;1&(1-0$J1''$K#$"19"'8$;#,(2=+(1I#$&0;$+&2+10-9#01+$(-$0#&2K8$(1,,=#,L$)&+"$-0#$-*$
("#$K1''1-0,$-*$2&;1-&+(1I#$5&2(1+='&(#,$#C1((#;$2#52#,#0(,$&$I#28$2#&'$;&09#2L$!"#2#$+&0$
K#$0-$,&*#$("2#,"-';$*-2$("1,$C&(#21&'L$!"#$21,P$*2-C$("1,$5-'1+8$1,$-KI1-=,L$
7&*#(8$2#9='&(1-0,$K1W&22#'8$C&P#$0-$;1,(10+(1-0$K#(J##0$10(#20&'$&0;$#O(#20&'$
2&;1&(1-0 $ #I#0$("-=9" $ ("#,#$ &2# $C&2P#;'8 $;1**#2#0(L $]-2$10,(&0+# $6#2&' $*-=0;$("&($
52-,(&(# $ +&0+#2 $ J&, $ "19"#2 $ 10 $ J-2P#2, $ 10 $ ("# $ 0=+'#&2 $ 10;=,(28L $ !"#2# $ J&, $ 0-$
+-22#'&(1-0$J1("$#O(#20&'$2&;1&(1-0$K=($&$"19"'8$,1901*1+&0($+-22#'&(1-0$J1("$10(#20&'$
2&;1&(1-0F?3L$D01C&'$,(=;1#,$C&P#$("1,$#I#0$C-2#$+'#&2$&0;$2&(,$10M#+(#;$J1("$?L?ECk8$
-*$7(2-0(1=C$b?$J#2#$*-=0;$(-$"&I#$5&("-'-91+&'$;&C&9#$#I#0$("-=9"$("#$;-,#$J&,$
>?? $ (1C#, $ '#,, $ ("&0 $ K&+P92-=0; $ 2&;1&(1-0F?GL $ \* $ C-2# $ +-0+#20 $ 1, $ ("# $ *&+( $ ("&($
(2&0,9#0#2&(1-0&'$#**#+(,$"&I#$&',-$K##0$;#C-0,(2&(#;L$:1+#$(J-$9#0#2&(1-0,$*2-C$&$
C&'#$10M#+(#;$J1("$("1,$7(2-0(1=C$b?$,=**#2#;$'#("&'$9#0#(1+$;&C&9#N$;#C-0,(2&(109$
("&($+"2-C-,-C&'$;&C&9#$J&,$5&,,#;$("2-=9"$("#$9#0#,$(-$("#$-**,52109$-*$122&;1&(#;$
C1+#F?YL
$:&08$5#-5'#$J-=';$K#$,=2521,#;$(-$P0-J$M=,($"-J$,C&''$&$;-,#$-*$2&;1&(1-0$1,$
0##;#;$(-$+&=,#$"&2CL$D*(#2$["#20-K8'$,"##5$J#2#$C-01(-2#;$*-2$7(2-0(1=C$b?$&0;$
("#$'1C1($,#($J&,$?L?????????Eb$92&C,$5#2$P1'-92&C,$-*$C#&(N$,-$,C&''$1($J-=';$K#$
10I1,1K'#F?XL $ D0; $ 8#( $ 2#9='&(1-0, $ &''-J $ K1''1-0, $ -* $ 5&2(1+='&(#, $ +-0(&10109 $ ,1C1'&2'8$
C10=(#$V=&0(1(1#,$-*$2&;1-&+(1I#$C&(#21&'$(-$K#$#C1((#;$10(-$("#$&12$*2-C$10+10#2&(-2,L$
/0$+-0(2&,(N$0&(=2&'$K&+P92-=0;$2&;1&(1-0$1,N$&($C-,(N$&$C10-2$"&W&2;L$]-2$10,(&0+#$
DK#2;##0$"&,$;-=K'#$("#$'#I#'$-*$0&(=2&'$K&+P92-=0;$2&;1&(1-0$K=($0-$10+2#&,#;$21,P$
-*$'#=P&#C1&,$-2$+&0+#2,L
:X-S&&")+0$%6-_+$9-B$9%1-.+$%&
/0+2#&,#; $ 10+1;#0+# $ -* $ '#=P&#C1&, $ &0; $ +&0+#2, $ &2-=0; $ ,1(#, $ 2#'#&,109$
2&;1-&+(1I#$C&(#21&'$&2#$J#''$;-+=C#0(#;L$D($7#&,+&'#$&$5=K'1+$"#&'("$#0V=128$*-=0;$
+"1';2#0$J#2#$C-2#$("&0$(#0$(1C#,$C-2#$'1P#'8$(-$9#($'#=P&#C1&$&0;$("2##$(1C#,$C-2#$
33
'1P#'8 $(-$9#($ +&0+#2F?@NF?bL $!"#$10+1;#0+# $-*$'#=P&#C1&, $10$+"1';2#0 $'1I109 $J1("10 $ G$
P1'-C#(2#,$-*$("#$`2=CC#'$&0;$k-#,("&+($0=+'#&2$10,(&''&(1-0,$10$k#2C&08$1,$C=+"$
"19"#2$("&0$10$k#2C&08$&,$&$J"-'#L$71901*1+&0('8N$("#$*12,($+&,#,$-*$'#=P&#C1&$-0'8$
&55#&2#; $ *1I# $ 8#&2, $ &*(#2 $ `2=CC#' $ J&, $ +-CC1,,1-0#;L $ D( $ B-=02#&8 $ ("#2# $ J&, $ &$
,1O*-'; $ 10+2#&,# $ 10 $ +"1';2#0^, $ '#=P&#C1&FE?$ &0; $ &( $ D';#2C&,(-0 $ ("#2# $ J&, $ &',- $ &0$
10+2#&,#$10$'#=P&#C1&,$10$("#$=0;#2$*1I#,FEEL$7"&25'8$21,109$'#=P&#C1&$2&(#,$J#2#$0-(#;$
10$*1I#$0#19"K-=2109$(-J0,$,=22-=0;109$("#$Q1'921C$0=+'#&2$5'&0($10$:&,,&+"=,#((,$10$
("#$Eb@?,L$/($J&,$("-=9"($(-$K#$'10P#;$(-$2&;1-&+(1I#$2#'#&,#,$*2-C$("#$Q1'921C$0=+'#&2$
5'&0($(#0$8#&2,$#&2'1#2$J"#2#$("#2#$"&;$K##0$&$*=#'$2-;$52-K'#CL$u:#(#-2-'-91+&'$;&(&$
,"-J#;$("&($10;1I1;=&',$J1("$("#$"19"#,($5-(#0(1&'$*-2$#O5-,=2#$(-$Q1'921C$#C1,,1-0,$
"&;$&'C-,($*-=2$(1C#,$("#$21,P$-*$'#=P&#C1&$+-C5&2#;$(-$("-,#$"&I109$("#$'-J#,($
5-(#0(1&' $ *-2 $ #O5-,=2#^FE>NFEFL $ D $ 2#+#0( $ C#(&S&0&'8,1, $ -* $ EX $ 5=K'1,"#; $ 2#5-2(, $ ("&($
+-I#2#;$EFY$0=+'#&2$,1(#,$&+2-,,$("#$J-2';$(--P$&$9'-K&'$'--P$&($("#$52-K'#CL$!"#8$
*-=0;$;#&("$2&(#,$*2-C$'#=P&#C1&$10$+"1';2#0$=0;#2$("#$&9#$-*$b$J#2#$10+2#&,#;$K8$
>EZ$&0;$10$("-,#$=0;#2$>G$K8$E?ZFE3L$!"#8$0-(#;$("&($;1,+"&29#,$*2-C$("#,#$5'&0(,$
"&I#$K##0$(--$'-J$(-$&++-=0($*-2$("#$'#=P&#C1&,$=,109$,(&0;&2;$+21(#21&$TK&,#;$-0$
,109'# $-2$ 10(#2C1((#0( $"19" $ ;-,#$2&;1&(1-0UL $!"# $ '1P#'8 $#O5'&0&(1-0 $ "#2#$ 1, $10(#20&'$
2&;1&(1-0$J"#2#$&$C10=(#$;-,#$(&P#0$10(#20&''8$J-=';$K#$#0-=9"$(-$(2199#2$&$+&0+#2$-2$
'#=P&#C1&L$!"1,$,"-=';$K#$,##0$&,$&$,(2-09$J&20109$&K-=($("#$;&09#2$-*$10+10#2&(109$
&0;$;1,5#2,109$2&;1-&+(1I#$C&((#2$10(-$("#$#0I12-0C#0(L
!"#$J#19"($-*$#I1;#0+#$"#2#$,(2-09'8$,=99#,(,$("&($&12K-20#$2&;1-&+(1I1(8$1,$&$
5-(#0($+&2+10-9#0$&0;$'1P#'8$(-$K#$#O(2#C#'8$"&W&2;-=,L$!-$&''-J$1($&($&''$1,$*--'"&2;8$
K=($(-$+-CK10#$("1,$J1("$&$+-+P(&1'$-*$-("#2$+&2+10-9#0,$1,$2#+P'#,,L
3[4>--.C1%06-"8-;"<<*$0#$&
!"#$R&(1-0&'$4#,#&2+"$[-=0+1'N$&0$&2C$-*$("#$R&(1-0&'$D+&;#C8$-*$7+1#0+#,N$
("&($J&,$#,(&K'1,"#;$(-$&;I1,#$("#$_7$9-I#20C#0(N$+-0+'=;#;$("&($1($J&,$0-($-0'8$("#$
"#&'("$-*$J-2P#2,$&0;$'-+&'$5-5='&(1-0,$("&($J-=';$K#$&**#+(#;$K8$10+10#2&(-2,L$!"#8$
2#5-2(#; $ ("&( $ 5-5='&(1-0, $ '1I109 $ C-2# $ ;1,(&0('8 $ &2# $ &',- $ '1P#'8 $ (- $ K# $ #O5-,#; $ (-$
10+10#2&(-2$5-''=(&0(,L$!"#8$,(&(#;$mA.28380.50&632&;*++,06508=&8,91&68&<3*@358=&/,2658 &
65<&-.29,2(&965&'.&<38;.28.<&*).2&+624.&2.43*58&C&7.++&'.(*5<&+*96+&62.68&65<&.).5&
01.&9*,5023.8&/2*-&71391&01.&8*,29.8&.-6560.>&D**<&9*506-3560.<&'(&65&35935.260*2 &
/693+30(&-3410&'.&9*58,-.<&'(&+*96+&;.*;+.&9+*8.&0*&01.&/693+30(&*2&/62&676(&/2*-&30> &
?1,8=&+*96+&<.;*8303*5&*5&/**<&-3410&2.8,+0&35&8*-.&.@;*8,2.&*/&;*;,+603*58&60&42.60 &
<380659.8=&<,.&0*&02658;*20&*/&/**<&0*&-62E.08>&F*7.).2=&<380650&;*;,+603*58&62.&+3E.+( &
0* & '. & -*2. & .@;*8.< & 012*,41 & +*54#2654. & 02658;*20 & */ & ;*++,06508 & 65< & +*7#+.).+ &
73<.8;2.6< & <.;*8303*5 & *5 & /**< & 92*;8 & 60 & +*9603*58 & 2.-*0. & /2*- & 65 & 35935.2603*5 &
/693+30(>nFEG$$
!"#8 $ '&(#2 $ +-CC#0(#; $ ("&( $ ("# $ 10+2#C#0(&' $ K=2;#0 $ *2-C $ &'' $ 10+10#2&(-2,$
;#,#2I#,$,#21-=,$+-0,1;#2&(1-0$K#8-0;$&$'-+&'$'#I#'L$!"1,$"&,$-KI1-=,$2#'#I&0+#$(-$("#$
52#,#0($5-'1+8$-*$52-C-(109$10+10#2&(-2,$10$("#$_`L$ $D0$1C5-2(&0($5-10($1,$("&($("#$
C-2# $ (-O1+ $ ,C&''#2 $ 5&2(1+='&(#,N $ J"1+" $ (851+&''8 $ "&I# $ C-2# $ (-O1+ $ +"#C1+&', $ &0;$
+&2+10-9#0,$&((&+"#;N$J1''$(2&I#'$("#$*=2("#,(LFEY$$
:-,($+"#C1+&'$5-''=(&0(,$&2#$'15-5"1'1+$&0;$&2#$("#2#*-2#$0-($#&,1'8$J&,"#;$
&J&8$K8$("#$2&10$&*(#2$("#8$,#(('#L$."#0$("#8$'&0;$-0$+2-5,$("#8$#0(#2$("#$*--;$+"&10$
J"#2#$("#8$K1-&++=C='&(#L$/($"&,$&'2#&;8$K##0$&;C1((#;$("&($C-,($;1-O10$10$*--;$(-;&8$
10$("#$_`$+&C#$*2-C$("#$-';#2$9#0#2&(1-0$-*$10+10#2&(-2,L$D''$+"#C1+&',$+&5&K'#$-*$
#0(#2109$("#$*--;$+"&10$J1''$,--0#2$-2$'&(#2$2#&+"$("#12$"19"#,($+-0+#0(2&(1-0$10$("#$
*-#(=,$-2$K2#&,($*#;$10*&0(L
3G
D$,(21P109$#O&C5'#$-*$("#$=0*-2#,##0$&0;$(2&91+$+-0,#V=#0+#, $-*$2#'#&,109$
5-''=(&0(,$10(-$("#$&12$"&,$K##0$,##0$10$R=0&I=(N$10$("#$*&2$R-2("$-*$[&0&;&$10$("#$
Q-'&2$4#91-0,L$!"#$/0=1($C-("#2,$"#2#$"&I#$(J1+#$("#$'#I#'$-*$;1-O10,$10$("#12$K2#&,($
C1'P$&,$[&0&;1&0,$'1I109$10$("#$7-=("N$&'("-=9"$("#2#$1,$0-$,-=2+#$-*$;1-O10$J1("10$
F??$C1'#,L$D($("#$+#0(2#$-*$61-'-98$-*$R&(=2&'$78,(#C,$10$g=##0^,$[-''#9#N$R#J$
i-2PN$B2$[-CC-0#2$&0;$"1,$(#&C$=,#;$&$+-C5=(#2$52-92&CC#$(-$(2&+P$#C1,,1-0,$
*2-C$33N???$,-=2+#,$-*$;1-O10$10$R-2("$DC#21+&L$!"1,$,8,(#C$+-CK10#;$;&(&$-0$(-O1+$
2#'#&,#,$&0;$C#(#-2-'-91+&'$2#+-2;,L$DC-09$("#$'#&;109$+-0(21K=(-2,$(-$("#$5-''=(1-0$
10$R=0&I=($J#2#$("2##$C=01+15&'$10+10#2&(-2,$10$("#$_7DFEXNFE@L$
3[4A--!%/%#$-\+<#&
D'("-=9"$("1,$2#5-2($1,$521C&21'8$&K-=($10+10#2&(-2, $1($1,$=,#*='$(-$+-C5&2#$
10+10#2&(-2,$J1("$+#C#0($P1'0,L$6-("$52-;=+#$(-O1+$#C1,,1-0,$-*$&$,1C1'&2$(85#$&0;$
C=+"$-*$("#$2#5-2($1,$2#'#I&0($(-$K-("L$[#C#0($P1'0,$+-0I#2($92-=0;$'1C#,(-0#N$,"&'#$
-2 $ +'&8 $ 10(- $ +#C#0(L $ !"#8 $ 2#V=12# $ '&29# $ V=&0(1(1#, $ -* $ *=#' $ (- $ 52-;=+# $ ("# $ "19"$
(#C5#2&(=2#,$0##;#;$&0;$("1,$'#0;,$1(,#'*$(-$ ("#$=,#$-*$0-0S(2&;1(1-0&'$*=#',$,=+"$&,$
(82#,N $ 2#*=,#S;#21I#; $ *=#' $ &0; $ 10;=,(21&' $ &0; $ "&W&2;-=, $ J&,(#, $ I&21-=,'8 $ +&''#;$
[#C*=#'N$,#+-0;&28$'1V=1;$*=#'$T7H]U$&0;$2#+8+'#;$'1V=1;$*=#'$T4H]UL$
%-J#I#2N$5-''=(1-0$&0;$5'&00109$+-0(2-',$&2#$,1901*1+&0('8$J#&P#2$("&0$("-,#$
*-2$"&W&2;-=,$J&,(#$10+10#2&(-2,L$[#C#0($P1'0,$52-;=+#$&$0=CK#2$-*$(-O1+$#C1,,1-0,$
,1C1'&2$(-$10+10#2&(-2,L$6=20109$(82#,$52-;=+#,$#C1,,1-0,$J1("$;1-O10,$&0;$W10+$&0;$
K=20109 $ 5#(2-'#=C $ +-P# $ 52-;=+#, $ I&0&;1=C $ &0; $ 01+P#'L $ 4#'#&,#, $ -* $ C#2+=28 $ &0;$
&2,#01+$&2#$=0+-0(2-''#;$&,$("#,#$&2#$I&5-=21,#;L$!"#$21,P$*2-C$;1-O10,$1,$+-0,1;#2&K'8$
92#&(#2$&,$C-,($+#C#0($P1'0,$;-$0-($"&I#$("#$&+(1I&(#;$+"&2+-&'$0##;#;$(-$2#C-I#$
("#CL
!"#$21,P$*2-C$Q:>LG$ 5&2(1+='&(#,$1,$#O(2#C#'8$,#21-=,L$!"#$'1C1($,#($*-2$("#$
J#19"($-*$&''$5&2(1+='&(#,$#C1((#;$K8$10+10#2&(-2,$1,$E?C9$5#2$+=K1+$C#(2#L$%-J#I#2$
+#C#0($P1'0,$&2#$&''-J#;$(-$#C1($F?SG?$C9$5#2$+=K1+$C#(2#L$!"1,$J-=';$K#$#O+#,,1I#$
K8$1(,#'*$K=($("#$I-'=C#,$-*$#C1,,1-0,$*2-C$+#C#0($P1'0,$+&0$K#$=5$(-$*1I#$(1C#,$
92#&(#2 $ ("&0 $ 10+10#2&(-2,L $ !"#2#*-2# $ ,-C# $ +#C#0( $ P1'0, $ +&0 $ 52-;=+# $ #C1,,1-0, $ -*$
5&2(1+='&(#, $ &0; $ -("#2 $ (-O1+ $ ,=K,(&0+#, $ J"1+" $ &2# $ 10 $ #O+#,, $ -* $ >? $ (1C#, $ ("&( $ -*$
10+10#2&(-2, $ =0;#2 $ 0-2C&' $ -5#2&(109 $ +-0;1(1-0,L $ .-2,# $ ,(1'' $ ("#8 $ "&I# $ 5--2#2$
&K&(#C#0( $ #V=15C#0( $ &0; $ =,=&''8 $ '&+P $ ("# $ &+(1I&(#; $ +"&2+-&' $ 0##;#; $ (- $ 2#;=+#$
#C1,,1-0,$-*$C#(&',$&0;$;1-O10,L
!"# $ #'#+(2-,(&(1+ $ 52#+151(&(-2, $ 0##; $ (- $ K# $ ,"=( $ -** $ J"#0 $ +&2K-0 $ C-0-O1;#$
'#I#',$K=1';$=5$;=#$(-$("#$21,P$-*$#O5'-,1-0L$!"1,$'#&;,$(-$=0&K&(#;$#C1,,1-0,L$!"1,$"&,$
"&55#0#;$3??$(1C#,$&$8#&2$10$-0#$5'&0(L$!"#$V=&0(1(1#,$-*$5&2(1+='&(#,$2#'#&,#;$&($("#,#$
(1C#,$&2#$1CC#0,#$2#&+"109$>?N???C9$5#2$+=K1+$C#(2#$J"1+"$&2#$("#$"19"#,($'#I#'$
("&( $ +&0$ K#$ C#&,=2#;L $ 4#+#0( $ 2#,#&2+" $"&, $ ;#C-0,(2&(#; $ =0#V=1I-+&''8 $("&( $,C&''$
10+2#&,#, $ 10 $ Q:>LG$ 5&2(1+='&(#, $ J1'' $ 10+2#&,# $ +&2;1-I&,+='&2 $ &0; $ +#2#K2-I&,+='&2$
C-2(&'1(8N $ ,- $ (- $ &''-J $ 2#'#&,#, $ -* $ ("1, $ -2;#2 $ ("#2#*-2# $ K-2;#2, $ -0 $ ("# $ 0#9'19#0(L$
/0+2#;1K'8$Q:>LG$5&2(1+='&(#,$&2#$0-($2-=(10#'8$C#&,=2#;L
/0;#5#0;#0('8S&=;1(#;$C-01(-2109$K8$&$2#91,(#2#;$+"&21(8$&($-0#$+#C#0($P1'0$10$
("#$_` $"&, $+-0(10=-=,'8$2#+-2;#;$'#I#', $-*$5&2(1+='&(#,N $=,109$EG$C10=(# $&I#2&9#$
2#&;109,FEbL $!"#8$ "&I#$ *-=0;$ #O(2#C#'8$"19" $,=29#, $-*$5&2(1+='&(#,N $(851+&''8 $J1("$
5#&P$2#&;109,$-++=22109$&($019"(N$,-C#(1C#,$,#I#2&'$(1C#,$&$J##PN$J1("$C&O1C=C$
Q:E?$ 5&2(1+='&(#, $2#&+"109$ '#I#', $-*$-I#2$3G??$f9$5#2$+=K1+$C#(2# $&0;$C&O1C=C$
Q:>LG$ 2#&+"109 $ -I#2 $ EX?f9 $ 5#2 $ +=K1+ $ C#(2#L $ [=22#0( $ ,+1#0(1*1+ $ P0-J'#;9# $ -0$
5&2(1+='&(#, $ ,=99#,(, $ ("&( $ ("#,# $ '#I#', $ J-='; $ K# $ #O5#+(#; $ (- $ +&=,# $ +&2;1-I&,+='&2$
;#&(", $ &0; $ ("# $ *10;109, $ ;#C-0,(2&(# $ ("# $ =29#0( $ 0##; $ *-2 $ 10;#5#0;#0( $ C-01(-2109$
3Y
&2-=0; $ &'' $ +#C#0( $ P1'0,L $ !"1, $ C-01(-2109 $ "&, $ #O5-,#; $ C&M-2 $ ;#*1+1#0+1#, $ 10 $ ("#$
52#,#0($C-01(-2109$&0;$2#9='&(-28$,8,(#CL
!"#2C&'$(2#&(C#0($-*$"&W&2;-=,$J&,(#$1,$&'J&8,$&$"19"'8$;&09#2-=,$&+(1I1(8$
&0;$("#$I#28$K#,($&I&1'&K'#$(#+"0-'-98$0##;,$(-$K#$=,#;L$[#C#0($P1'0,$&2#$#**#+(1I#'8$
K#109$=,#;$(-$K=20$"&W&2;-=,$J&,(#$-0$("#$+"#&5L$7&;'8$"&W&2;-=,$J&,(#$(851+&''8$
*10;,$1(,$J&8$(-$("#$'#&,($2#9='&(#;$&0;$+"#&5#,($;1,5-,&'$C#("-;,N$10$52&+(1,#$("-,#$
("&($+2#&(#$("#$C-,($"#&'("$21,P,$&0;$("#$C-,($#0I12-0C#0(&'$;&C&9#L$
[#C#0($P1'0$(#+"0-'-98$"&,$2#C&10#;$I12(=&''8$=0+"&09#;$,10+#$("#$(=20$-*$("#$
(J#0(1#(" $ +#0(=28L $ !"#8$+&0$-0'8$K#$2#*1((#; $-2$2#(2-*1((#; $(-$&$C101C&' $;#92##$(-$
1C52-I# $ #**1+1#0+8 $ &0; $ (-O1+ $ J&,(# $ ;#,(2=+(1-0L $ !"# $ 7#'#+( $ [-CC1((## $ *-2 $ ("#$
#0I12-0C#0($2#+-CC#0;#;$,(=;1#,$-0$("#$,&*#(8$-*$+#C#0($P1'0,$-I#2$E?$8#&2,$&9-$
&0;$("1,$"&,$K##0$190-2#;L$."8j
[#C#0($P1'0,$&2#$("#2#*-2#$+&5&K'#$-*$#O(2#C#'8$,#21-=,$"#&'("$+-0,#V=#0+#,L$
/0+2#;1K'8$,-C#$-*$("#,#$+#C#0($P1'0,$"&I#$K##0$,1(#;$10$("#$C1;;'#$-*$(-J0,$J"#2#$
("#8$J-=';$K#$#O5#+(#;$(-$"&I#$&$C&M-2$#**#+($-0$("#$"#&'("$-*$("#$'-+&'$5-5='&(1-0L$
!"#$*&+($("&($("#8$&2#$&''-J#;$&($&''$1,$&,(-01,"109N$*-2$("#$C&O1C=C$1C5&+($J1''$
10#I1(&K'8$K#$-0$("#$C-,($I='0#2&K'#$C#CK#2,$-*$,-+1#(8N$&0;$10$5&2(1+='&2$("#$=0K-20$
+"1';L$
$
334--H"#+$"1+#@
D( $ ("# $ "#&2( $ -* $ ("# $ 52-K'#C, $ J1(" $ 10+10#2&(1-0 $ 1, $ ("# $ 5--2 $ V=&'1(8 $ &0;$
=0,&(1,*&+(-28$0&(=2#$-*$C-01(-2109$&($("#,#$10,(&''&(1-0,N$=0,&(1,*&+(-28$10$("#$J&8$1($
1,$;-0#N$("#$+-C5-=0;,$C-01(-2#;N$&0;$("#$'#I#',$;##C#;$&++#5(&K'#N$&0;$("#$'&+P$-*$
C-01(-2109$-*$K-;8$K=2;#0,$10$("#$'-+&'$5-5='&(1-0L$!"#$52-K'#C,$&2#$&,$*-''-J,A
K%12-Z%_-;"<<*$0#$&-01%-:%+#@-/%0&*1%6
\=($-*$("#$"=0;2#;,$ -*$+"#C1+&', $2#'#&,#;$*2-C$&0$10+10#2&(-2$-0'8$&$(108$
52-5-2(1-0$&2#$C#&,=2#;L$\0$+=22#0($;&(&N$("#$("2##$C-,($1C5-2(&0($5-''=(&0(,$2#'#&,#;$
K8$10+10#2&(-2,$&2#$;1-O10,N$"#&I8$C#(&',$&0;$Q:>LG$5&2(1+='&(#,L$/0+2#;1K'8$("#,#$&2#$
I12(=&''8$=0C-01(-2#;L$\0'8$"&'*$&$;-W#0$5-''=(&0(,$&2#$C#&,=2#;$+-0(10=-=,'8$10$("#$
,(&+P$&0;$&K-=($&0-("#2$"&'*$;-W#0$&2#$C#&,=2#;$-++&,1-0&''8$T=,=&''8$Y$C-0("'8$*-2$
("#$*12,($8#&2$&0;$("#0$8#&2'8U$K8$,5-($C-01(-2109$a$("#,#$10+'=;#$"#&I8$C#(&',$&0;$
;1-O10,L $ !"1, $ 1, $ +'#&2'8 $ =0,&(1,*&+(-28 $ &0; $ ,10+# $ J&,(# $ -5#2&(-2, $ &2# $ J&20#; $ 10$
&;I&0+#$-*$&$I1,1(N$("#8$&2#$"&0;#;$&0$-55-2(=01(8$(-$+"&09#$(-$K=20109$+'#&0#2$J&,(#$
J"1+"$1,$=02#52#,#0(&(1I#$-*$("#$(-O1+$21,PN$C&P109$("#$#O#2+1,#$'&29#'8$5-10('#,,L
O9%-H"&$-J0#@%1"*&-;"<<*$0#$&-01%-9016<2-:%+#@-H"#+$"1%6
D++1;#0(&'$K8S5&,,109$-*$5-''=(1-0$+-0(2-'$;#I1+#,$K8$10+10#2&(-2,$52#,#0($I#28$
2#&' $ ;&09#2, $ (- $ 5#-5'# $ '1I109 $ 10 $ ("# $ I1+101(8 $ -* $ 10+10#2&(-2, $ &0; $ ("1, $ ;&09#2 $ 1,$
+-C5-=0;#;$K8$("#$0#&2$&K,#0+#$-*$C-01(-2109$-*$;1-O10,L$!J-$#51,-;#,$,#2I#$(-$
1''=,(2&(#$("1,L$D$C-;#20$,(&(#$-*$("#$&2($10+10#2&(-2$10$4-((#2;&C$J&,$*-=0;$(-$K#$K8S
5&,,109$1(,$5-''=(1-0$+-0(2-'$;#I1+#,$E?Z$-*$("#$(1C#$#C1((109$;1-O10,$#V=1I&'#0($(-$G$
(1C#,$("#$0&(1-0&'$'1C1($-I#2$("#$+1(8L$/0$R-2*-'PN$d129101&$&$,1C1'&2$10+1;#0($'#;$(-$
;1-O10$#C1,,1-0,$92#&(#2$("&0$("#$&''-J&K'#$+-CK10#;$'1C1(,$*-2$(2&**1+N$10+10#2&(-2,$
&0;$10;=,(28$*-2$7J#;#0N$k#2C&08$&0;$("#$R#("#2'&0;,$+-CK10#;L$!"1,$J-=';$+&=,#$
J1;#,52#&;$5-''=(1-0$-*$&0$&2#&$J1("$;1-O10$&0;$-("#2$5#2,1,(#0($5-''=(&0(,$("&($+-=';$
'&,($*-2$;#+&;#,N$1*$0-($+#0(=21#,N$5=((109$C&08$9#0#2&(1-0,$&($21,PL$
7(&2(S=5,$&0;$,"=($;-J0,$-*$10+10#2&(-2,$91I#$21,#$(-$&$,1C1'&2$;&09#2L$D$2#+#0($
,(=;8$*-=0;$("&($&$,109'#$10+10#2&(-2$,(&2(S=5$J-=';N$-0$&I#2&9#N$9#0#2&(#N$*).2&6&GH&
1*,2&;.23*<N$Y?Z$-*$("#$(-(&' $655,6+$;1-O10$#C1,,1-0,$52-;=+#;$;=2109$,(#&;8$,(&(#$
3X
+-0;1(1-0, $a$10$-("#2$J-2;,$X$C-0(", $J-2(" $-*$;1-O10$2#'#&,#$J1("10$>$;&8, $-*$&$
(851+&'$,(&2(S=5L$!"#8$&',-$*-=0;$("&($("#$'#I#',$-*$;1-O10,$52-;=+#;$K8$,(&2(S=5,$&($
,-C# $-*$("#$ 10+10#2&(-2, $("#8$ ,(=;1#;$+-='; $K#$(J1+#$("#$&00=&'$;1-O10$#C1,,1-0,$
=0;#2$,(#&;8$,(&(#$+-0;1(1-0,$T("1,$1,$("#$#V=1I&'#0($-*$>3$C-0(",$-*$;1-O10$2#'#&,#$
J1("10$>$;&8,UF>?L$$!"#$;&09#2$(-$5#-5'#$'1I109$10$("#$&2#&$1,$-KI1-=,$&0;$,#21-=,L$%19"$
'#I#',$-*$;1-O10,$+&0$&',-$K#$52-;=+#;$;=2109$,"=(S;-J0,$&0;$;=2109$+-CC1,,1-0109$
TJ"#0$("#8$&2#$0-($C-01(-2#;UL$
B1-O10,$&2#$-0'8$C-01(-2#;$&($FSE>$C-0("$10(#2I&',$&0;$("#0$-0'8$*-2$&$*#J$
"-=2,L$!"1,$C#&0,$("&($;1-O10,$&2#$0-($C-01(-2#;$bbZ$-*$("#$(1C#L$/($+-=';$("#2#*-2#$
K# $ C&08 $ C-0(", $ K#*-2# $ "19" $ '#I#', $ -* $ ;1-O10 $ #C1,,1-0, $ J#2# $ ;#(#+(#; $ 5#2"&5,$
&''-J109$#0-=9"$;1-O10$(-$K#$2#'#&,#;$(-$("2#&(#0$("#$"#&'("$-*$&$J"-'#$+-CC=01(8$
&0;$2#0;#2$*&2C,$10$("#$I1+101(8$=0*1($*-2$92-J109$I#9#(&K'#,$-2$2#&2109$'1I#,(-+PL$/0$
*&+(N$("#$-5#2&(-2$&0;$("#$5=K'1+$C19"($0#I#2$*10;$-=($&0;$("#0$,(#5,$J-=';$0#I#2$K#$
(&P#0$(-$;#&'$J1("$("#$+-0,#V=#0+#,L
D0$ &;;#; $ 52-K'#C $ 1, $ ("&( $ ,5-( $ C-01(-2109 $ T&, $ 1, $ =,#;$ +=22#0('8U $ "&, $ K##0$
,"-J0$10$&$2#+#0($,(=;8$(-$K#$=02#52#,#0(&(1I#$&0;$(-$=0;#2#,(1C&(#$;1-O10$'#I#',$K8$
F?SG?$(1C#,F>EL$!"#$,1(=&(1-0$1,$0-$K#((#2$J1("$"#&I8$C#(&',L$H1P#$;1-O10,N$("#8$&2#$
=0C-01(-2#;$*-2$bbZ$-*$("#$(1C#L
['#&2'8N $ +-0(10=-=, $ ;1-O10 $ C-01(-2109 $ 1, $ #,,#0(1&' $ &0; $ J1("-=( $ ,=+"$
C-01(-2109N$10+10#2&(-2,$C=,($K#$2#9&2;#;$&,$=0,&*#$&0;$&$"&W&2;$(-$&08-0#$'1I109$10$
("#$&2#&L$[-0(10=-=,$;1-O10$C-01(-2109$,"-=';$K#$C&0;&(-28$&,$1,$("#$+&,#$10$,-C#$
-("#2$)=2-5#&0 $+-=0(21#,4 - -[=22#0('8N$C-01(-2109 $-*$("#$("2##$C-,( $1C5-2(&0( $&0;$
;&09#2-=,$5-''=(&0(,N$0&C#'8$;1-O10,N$"#&I8$C#(&',$&0;$Q:>LG$5&2(1+='&(#,$1,$I12(=&''8$
0-0S#O1,(#0($10$("#$_`L$/0$("#$+&,#$-*$Q:>LG$5&2(1+='&(#,$("#8$&2#$0-($C-01(-2#;$&($&''$a$
-0'8$("#$*&2$'#,,$2#'#I&0($Q:E?$5&2(1+='&(#,L
/0;#5#0;#0($C-01(-2109$-*$+#C#0($P1'0,$"&,$&'2#&;8$;#C-0,(2&(#;$I#28$"19"$
5&2(1+='&(#$#C1,,1-0,$("&($+-=';$,#21-=,'8$#0;&09#2$"#&'("FEbL$!"#,#$2#'#&,#,$"&I#$K##0$
*2#V=#0($T,-C#(1C#,$F$(1C#,$&$J##PUN$;&09#2-=,$T2#&+"109$3G??f9$5#2$+=K1+$C#(2#$-*$
Q:E? $5&2(1+='&(#,U$&0;$"&I#$#,+&5#;$;#(#+(1-0$K8$("#$2#9='&(-28$&=("-21(1#,L$['#&2'8N$
("#$52#,#0($2#9='&(-28$,8,(#C$1,$0-($52-(#+(109$("#$5=K'1+L
O9%-.$0#6016-"8-H"#+$"1+#@-"#-$9%-N1"*#6-+&-0<&"-c#0))%C$0:<%
/0 $ &;;1(1-0 $ (- $ C-01(-2109 $ 10 $ ("# $ ,(&+PN $ ("#2# $ 1, $ & $ 2#V=12#C#0( $ (- $ C-01(-2$
5-''=(&0(, $10$("#$,=22-=0;109$&12L$!"1,$1,$0-2C&''8$;-0#$K8$("#$'-+&' $+-=0+1'$J1("$
C-01(-2,$&($92-=0;$'#I#'L$%-J#I#2$("1,$1,$&',-$=0,&(1,*&+(-28L$]-2$10,(&0+#$(-$C-01(-2$
*-2$,&*#$'#I#',$-*$5&2(1+='&(#,$1($J-=';$2#V=12#$&($'#&,($>3$C-01(-2,$5'&+#;$&($,(2&(#91+$
5-10(,$&2-=0;$&0$10+10#2&(-2$T&,,=C109$("#$J10;$1,$;1,(21K=(#;$#I#0'8U$(-$&+"1#I#$&$
>GZ $ ,&C5'109 $ 2&(#N $ J"1+" $ 1, $ ("# $ C101C=C $ ("&( $ +&0 $ K# $ +-0,1;#2#; $ &++#5(&K'# FL$
!851+&''8N $ ("#2# $ &2# $ '#,, $ ("&0 $ ("2## $ C-01(-2, $ &2-=0; $ C-,( $ 10+10#2&(-2, $ (-;&8L$
:#&,=2#C#0($-*$"#&I8$C#(&',$10$("#$,=22-=0;109$&12N$J1("$("#$#O+#5(1-0$-*$'#&;N$1,$0-($
#I#0$2#V=12#;L
?"-H"#+$"1+#@-"8-;"<<*$0#$&-_9+)9-90,%-0))*/*<0$%6-+#-$9%-?%+@9:"*19""6
:#&,=2109 $ +-0+#0(2&(1-0 $ -* $ 5-''=(&0(, $ 2#'#&,#; $ 10 $ ("# $ ,(&+P $ 91I#, $ 0-$
10*-2C&(1-0$&K-=($("#$'#I#',$-*$(-O1+$C&(#21&'$("&($"&I#$&++=C='&(#;$10$("#$I1+101(8L$
."#0$("#$2&(# $ -*$;1,+"&29#$-*$5-''=(&0(, $10(-$("#$#0I12-0C#0( $1,$92#&(#2 $("&0$("#$
&K1'1(8$-*$("#$#+-,8,(#C,$(-$K2#&P$("#C$;-J0$("#0$("#8$C=,($&++=C='&(#L$.#$&'2#&;8$
P0-J $ ("&( $ C&08 $ ;- $ 0-( $ K2#&P $ ;-J0 $ *-2 $ +#0(=21#,L $ !"# $ #O+2#(1-0 $ 2&(#, $ -* $ C&08$
5-''=(&0(, $ *2-C $ ("# $ "=C&0 $ K-;8$ &2# $ &',- $ I#28 $ 5--2N $ *-2 $ #O&C5'# $ ("# $16+/ & +3/.$ -*$
+&;C1=C$10$("#$K-;8$1,$F?$8#&2,$&0;$*-2$Q[6,$1($1,$XG$8#&2,L$:&08$5-''=(&0(,N$K#109$
3@
*&($,-'=K'#N$J1''$K1-S&++=C='&(#$10$'1I109$C&((#2$&($*&2$"19"$+-0+#0(2&(1-0,$("&0$10$("#$
&CK1#0($&12L$D$_7$)QD$C#C-$&;C1((#;$("&($("#$21,P$*2-C$&++=C='&(1-0$-*$;1-O10$10$
*&2C $ &01C&', $ m+-='; $ 2#,='( $ 10 $ =0&++#5(&K'# $ "#&'(" $ 21,P,nL $ _,109 $ & $ (85# $ -* $ 21,P$
&,,#,,C#0($+&''#;$,+2##0109$&0&'8,1,F>>$$("#8$+&'+='&(#;$("&($;1-O10$J-=';$&++=C='&(#$
10 $ +&(('# $ ;-J0J10; $ *2-C $ &0 $ 10+10#2&(-2 $ &0; $ ("&( $ ("# $ 21,P $ *2-C $ K##* $ &0; $ C1'P$
+-0,=C5(1-0 $ J-='; $ K# $ 3?N??? $ (1C#, $ ("# $ 21,P $ *2-C $ 10"&'&(1-0L $ !"1, $ 1, $ & $ C&,,1I#$
10+2#&,#$10$21,P$&0;$1,$10$P##5109$J1("$J"&($J#$&'2#&;8$P0-J$&K-=($K1-&++=C='&(1-0$
10$-("#2$,5#+1#, $T,##$ 7#+(1-0$FL3UL$:-01(-2109 $-*$;1-O10, $10$+&(('# $&0; $-("#2$*&2C$
&01C&',$2#9='&2'8$1,$#,,#0(1&'$*-2$("#,#$2#&,-0,L$4#92#((&K'8$1($1,$0-($K#109$;-0#$&0;$
("#2#*-2#$+-0,=C#2,$-*$("#,#$52-;=+(,$&2#$K#109$5=($&($21,PL$["#+P,$*-2$5-''=(&0(,$10$
;=,(N$I#9#(&(1-0$&0;$10$("#$K-;1#,$-*$'-+&'$10"&K1(&0(,$&2#$&',-$0#+#,,&28L$
/($1,$,-C#(1C#,$&29=#;$("&($("#,#$5-''=(&0(,$;-0^($C&((#2$&,$("#8$J1''$K#$+&221#;$
&J&8$10$("#$J10;$&0;$K#$,-C#-0#$#',#^,$52-K'#CL$7&;'8$("1,$1,$5&2('8$(2=#$&0;$("&($1,$
("#$2#&,-0$("#2#$1,$,-$C=+"$5-''=(1-0$10$("#$*2&91'#$#+-,8,(#C$10$("#$D2+(1+$J"#2#$
C=+"$-*$("#$(-O1+$C&(#21&'$='(1C&(#'8$#0;,$=5L
H"#+$"1+#@-1%<+%&-"#-.08%$2-J0$0-6%1+,%6-81"/-S#+/0<-.$*6+%&
D01C&'$,(=;1#,$+-CC-0'8$=0;#2#,(1C&(#$"=C&0$I='0#2&K1'1(8$K#+&=,#$-*$("#$
-KI1-=, $ ;1**1+='(8 $ 10 $ (#,(109 $ +-901(1I#N $ K#"&I1-=2&' $ &0; $ '&09=&9# $ ;#*1+1#0+1#, $ &0;$
+-0;1(1-0,$,=+"$&,$*&(19=#L$/0$("#$+&,#$-*$'#&;N$C#2+=28$&0;$Q[6,N$&01C&'$,(=;1#,$"&I#$
=0;#2#,(1C&(#;$("#$0#=2-(-O1+$#**#+($-0$"=C&0,$K8$&$*&+(-2$-*$E??$(-$E?N???$(1C#,>@GL
H"#+$"1+#@-N+,%&-Q+$$<%-;1"$%)$+"#-$"-$9%-Z"%$*&$$
DI#2&9#$'#I#',$-2$,5-($C-01(-2109$190-2#,$#O5-,=2#,$&($+21(1+&'$(1C#,L$ $!"#$
(1C109$-*$("#$#O5-,=2#$1,$-*(#0$C-2#$1C5-2(&0($("&0$("#$+-0+#0(2&(1-0L$)O5-,=2#,$&($
+21(1+&'$(1C#, $;=2109$*-#(&'$ 92-J(" $-2$10*&0+8$&2#$P0-J0$(-$52-;=+#$C-2# $,#21-=,$
#**#+(,$("&0$,1C1'&2$#O5-,=2#,$10$&;='("--;$&0;$("1,$;&C&9#$+&0$K#$5#2C&0#0(L$!"1,$1,$
J#''$2#+-901,#;N$#,5#+1&''8$J1("$'#&;N$C#2+=28$&0;$Q[6,L$R-0#$-*$("#$,&*#(8$'1C1(,$
"&,$K##0$;#C-0,(2&(#;$(-$52-(#+($&9&10,($*-#(&'$;&C&9#L$.#$P0-J$*2-C$&01C&'$&0;$
"=C&0$,(=;1#,$("&($(-O10,$"&I#$("#$92#&(#,($1C5&+($-0$("#$*-#(=,$&0;$8-=09$+"1';L$!"#$
C-,($I='0#2&K'#$C#CK#2,$-*$("#$+-CC=01(8$&2#$'1P#'8$(-$K#&2$("#$K2=0($-*$("#,#$(-O1+$
2#'#&,#,L$
H0#2-;"<<*$0#$&-90,%-?"-.08%-O91%&9"<6-"1-&9"_-Q"_-J"&%-O"(+)+$2
7-C# $ 5-''=(&0(, $ ,=+" $ &, $ Q:>LG$ 5&2(1+='&(#,N $ '#&; $ &0; $ ;1-O10 $ "&I# $ 0- $ ,&*#$
("2#,"-';,L$ :-,($ -29&0-+"'-210#, $&2#$#0;-+210#$;1,2=5(-2, $&0;$("2#,"-';,$C&8$0-($
#O1,($*-2$ ("#,#$ #**#+(,L$:-01(-2109$91I#, $'1(('# $-2$0-$52-(#+(1-0 $10 $("#,#$,1(=&(1-0,L$
7-C#(1C#, $'-J$;-,#$,(=;1#,$"&I#$,"-J0$(-O1+$#**#+(,$&($'#I#', $*&2$K#'-J$("#$m0-$
#**#+(n$'#I#'$10$"19"$;-,#$,(=;1#,L$D0$#O&C5'#$-*$("1,$1,$K1,5"#0-'$DN$&$5'&,(1+1W#2L$
7(=;1#, $ ,"-J#; $ "#&'(" $ #**#+(, $ &( $ '#I#', $ >NG?? $ (1C#, $ '-J#2 $ ("&0 $ DC#21+&0 $ )QD^,$
'-J#,($-K,#2I#;$#**#+(N$J1("$&;I#2,#$-=(+-C#,$10+'=;109$&992#,,1I#$K#"&I1-=2N$#&2'8$
5=K#2(8$&0;$&K0-2C&'$K2#&,($92-J(">>?L$Q#2+"'-2&(#$52-;=+#,$+"&09#,$10$("#$,1W#$-*$
5&2(, $ -* $ ("# $ K2&10 $ &( $ ?L?E $ C9oP9o;&8 $ K=( $ 0-( $ &( $ F?C9>>?L $ D';1+&2K $ J&, $ *-=0; $ (-$
,=552#,,$("#$1CC=0#$,8,(#C$C-2#$&($E$55K$("&0$1($;1;$&($E???55KL$\("#2$+"#C1+&',$
&',-$52-;=+#$;1**#2#0($#**#+(,$&($'-J$;-,#$(-$J"&($("#8$;-$&($"19"$;-,#L$!"1,$,"-J,$
"-J$I#28$'1(('#$J#$P0-J$&K-=($("#$;&09#2,$-*$#O5-,109$J"-'#$5-5='&(1-0,$(-$+"#C1+&'$
5-''=(1-0L
;"<<*$+"#-B88%#)%&-01%-!"//"#C<0)%-0#6-L%@*<0$+"#-+&-;""1
3b
!#0$10+10#2&(-2,$10$("#$_`$+-CC1((#;$GGF$5-''=(1-0$-**#0+#,$10$&$(J-$8#&2$
5#21-;N$;-+=C#0(#;$10$k2##05#&+#^, $mD$4#I1#J $-*$("#$Q#2*-2C&0+# $-*$:=01+15&'$
/0+10#2&(-2, $10$("#$_`nL$!"1,$&55&''109 $2#+-2;$'#;$(-$-0'8$-0#$52-,#+=(1-0 $K8$("#$
)0I12-0C#0( $ D9#0+8L $!"#2# $ 1, $ '1(('# $ 5-10( $ 10 $ (19"(#2 $ 2#9='&(1-0, $ 1* $ ("#8 $ &2# $ 0-($
#0*-2+#;L$]10#,$2#+#1I#;$*-2$5-''=(1-0$-**#0+#,$"&I#$K##0$+-C5&2#;$(-$&$5#2,-0$-0$&$
sG?N???$,&'&28$2#+#1I109$&$s>?$5&2P109$*10#L$!"1,$+'#&2'8$91I#,$J&,(#$+-C5&01#,$&$
92##0$'19"($(-$190-2#$2#9='&(1-0,$&0;$5-''=(#$J1("$'1(('#$*#&2$-*$("#$+-0,#V=#0+#,L$!"#$
&K-I#$;&(&$J&,$K&,#;$-0$,#'*$&,,#,,C#0($K8$("#$+-C5&01#,$+-0+#20#;L$
H#I#',$-*$#C1,,1-0,$&+"1#I#;$=0;#2$(#,($+-0;1(1-0,$-2$J"#0$10,5#+(1-0,$-++=2$
K8$521-2$&22&09#C#0(,$&2#$'1P#'8$(-$K#$*&2$'-J#2$("&0$=0;#2$2#&'$'1*#$+-0;1(1-0,L$!"1,$
J&, $ ;#C-0,(2&(#; $ 10 $ ("# $ _01(#; $ 7(&(#, $ 10 $ Ebb? $ J"#0 $ ("# $ )QD $ &0; $ \++=5&(1-0&'$
7&*#(8$&0;$%#&'("$D;C101,(2&(1-0$+-0;=+(#;$Y>$=0&00-=0+#;$I1,1(,$&0;$0-$'#,,$("&0$
YbZ $ -* $ 10,5#+(1-0, $ '#; $ (- $ ,=CC-0, $ *-2 $ I1-'&(1-0, $ -* $ 2#9='&(1-0,F>FL $ T/0 $ ("# $ _`$
10,5#+(1-0,$&2#$K8$521-2$&22&09#C#0(UL$!"1,$C&P#,$&$,(2-09$+&,#$*-2$C&P109$&''$I1,1(,$
=0&00-=0+#;L
."#0$&0$#0I12-0C#0(&'$92-=5$10I#,(19&(#;$&0$10+10#2&(-2$10$/0;1&0&5-'1,$("#$
,1(=&(1-0$J&,$#I#0$J-2,#L$!"#8$*-=0;$1($"&;$I1-'&(#;$1(,$5#2C1(,$YN???$(1C#,$10$(J-$
8#&2,$&0;$K85&,,#;$1(,$-J0$&12$+-0(2-'$5-''=(1-0$;#I1+#,$E@$(1C#,L$
/0 $ #**#+(N $ 10+10#2&(-2, $ 52#,#0( $ 10"#2#0( $ &0; $ =0&I-1;&K'# $ "&W&2;, $ (- $ 5=K'1+$
,&*#(8$K=($("#$#O(#0($-*$("#$"&W&2;,$;#5#0;,$-0$"-J$J#''$10+10#2&(-2,$&2#$2=0L$!"#$
#I1;#0+#$1,$,(2-09$("&($("#8$&2#$-*(#0$2=0$K&;'8L$!"#$,1(=&(1-0$1,$C&;#$J-2,#$K8$J#&P$
2#9='&(-2,$J1("$'1(('#$&55#(1(#$*-2$#0*-2+109$5=K'1+$,&*#(8L
374---L+&M-S&&%&&/%#$
\0#$C19"($2#&,-0&K'8$#O5#+($("&(N$J"#0$("#$;#+1,1-0$(-$K=1';$&0$10+10#2&(-2$1,$
C&;#N$&''$("#$&K-I#$10*-2C&(1-0$J-=';$K#$+&2#*=''8$(&P#0$10(-$&++-=0(L$7&;'8$("1,$1,$
0-( $ 0#+#,,&21'8 $ ("# $ +&,#L $ $ B12#+(-2, $ -* $ Q=K'1+ $ %#&'("N $ J"- $ =,=&''8 $ "&I# $ '1(('#$
P0-J'#;9#$-*$#0I12-0C#0(&'$"#&'("N$&2#$&,P#;$(-$J21(#$&0$/QQ[$T/0(#92&(#;$Q-''=(1-0$
Q2#I#0(1-0$&0;$[-0(2-'U$D55'1+&(1-0$4#5-2($&0;$91I#$("#12$-5101-0$-0$("#$"#&'("$21,P,$
*2-C$("#$52-5-,#;$10+10#2&(-2L$!851+&''8$("1,$;#+1,1-0$1,$K&,#;$-0$&0$10#O&+($C#("-;$
+&''#;$21,P$&,,#,,C#0(L$!"#8$(#0;$(-$2#'8$&'C-,($#O+'=,1I#'8$-0$("1,$(85#$-*$&,,#,,C#0($
&0;$-*(#0$"&I#$'1(('#$=0;#2,(&0;109$-*$1(,$'1C1(&(1-0,L$
41,P$&,,#,,C#0($1,$&$C#("-;$;#I#'-5#;$*-2$#0910##2109$K=($1,$I#28$5--2$*-2$
&,,#,,109$("#$+-C5'#O1(1#,$-*$"=C&0$"#&'("L$!851+&''8$1($10I-'I#,$#,(1C&(109$("#$21,P$
(-$"#&'("$-*$M=,($>?$-=($-*$("#$"=0;2#;,$-*$;1**#2#0($5-''=(&0(,$#C1((#;$K8$10+10#2&(-2,L$
/($C&,V=#2&;#,$&,$&$,+1#0(1*1+$C#&,=2#$K=($"&,$&''$("#$"&''C&2P,$-*$5,#=;-,+1#0+#L$68$
5,#=;-,+1#0+#$J#$C#&0$&,,=C5(1-0,$K&,#;$-0$*&',#$52#C1,#,A
EU 5$-/0M%&-$9%-0&&*/C$+"#-$90$-0#2-&*:&$0#)%-%/+$$%6-:*$-#"$-0&&%&&%6-W$9+&/%0#&-YYh-"8-0<<-C"<<*$0#$&X-&9"*<6-:%-$1%0$%6-0&-+8-$9%2-90,%-D%1"-1+&ML$
!"1,$&,,=C5(1-0$1,$-KI1-=,'8$=0(2=#L
>U 5$-0&&*/%&-_1"#@<2-$90$-0<<-C"<<*$0#$&-90,%-$91%&9"<6&-:%<"_-_9+)9-$9%201%-&08%4$7+1#0+#$+-0(2&;1+(,$("1,L$:&08$5-''=(&0(,N$10+'=;109$;1-O10,N$'#&;$&0;$
2&;1-&+(1I#$5&2(1+='&(#,$;-$0-($"&I#$("2#,"-';,$&0;$,-C#$C&8$#I#0$K#$C-2#$
;&09#2-=,$&($'-J#2$+-0+#0(2&(1-0,$T,##$,#+(1-0$EEUL$D0$10(#20&(1-0&'$C##(109$
-*$0#=2-'-91,(,$&0;$#0;-+210-'-91,(,$+-0+'=;#;$m["#C1+&'$+"&''#09#,$10$#&2'8$
'1*#$+&0$'#&;$(-$52-*-=0;$&0;$122#I#2,1K'#$&K0-2C&'1(1#,$10$K2&10$;#I#'-5C#0($
&($#O5-,=2#$'#I#',$("&($;-$0-($52-;=+#$5#2C&0#0($#**#+(,$10$&0$&;='(c$("#2#$C&8$
0-( $ K# $ ;#*10&K'# $ ("2#,"-';, $ *-2 $ 2#,5-0,# $ (- $ #0;-+210# $ ;1,2=5(-2,nF>3L $ !"#$
G?
FU
3U
GU
YU
XU
@U
bU
R&(1-0&' $ 4#,#&2+" $ [-=0+1' $ +-0+'=;#; $ 10 $ Ebb> $ ("&( $ m("# $ &,,=C5(1-0 $ -*$
("2#,"-';,$*-2$0#=2-(-O1+1(8$J&,$K1-'-91+&''8$10;#*#0,1K'#n>>GL$
$$$.#$C19"($&',-$0-(#$("&($("#$&++#5(#;$("2#,"-';,$*-2$C&08$5-''=(&0(,$"&I#$
K##0 $ 52-92#,,1I#'8 $ 2#;=+#; $ -I#2 $ ("# $ '&,( $ *#J $ ;#+&;#, $ T10+'=;109 $ I108'$
+"'-21;#N$#("8'#0#$;1+"'-21;#$&0;$,1O$+"'-210&(#;$,-'I#0(,U$J1("$2#;=+(1-0,$(-$
K#(J##0$-0#$"&'*$&0;$-0#$(#0("$-*$("#$-21910&'$'1C1(,L$.#$+&0$#O5#+($*=2("#2$
2#;=+(1-0,$&,$,+1#0+#$52-92#,,#,L
5$- 0&&*/%&- _1"#@<2 - $90$- "#<2 -0+1 -%/+&&+"#& - #%%6 -$"- :%-)"#&+6%1%6 - 0#6:+"0))*/*<0$+"#- +#-8""6-)0#-:%-+@#"1%64 -%-J#I#2$&12$#C1,,1-0, $C&8 $K#$
-0'8$("#$(15$-*$("#$1+#K#29L$:-,($*--;$(-;&8$1,$+-0(&C10&(#; $J1("$;1-O10,N$
52#;-C10&0('8 $ *2-C $ 5&,( $ 10+10#2&(-2 $ #C1,,1-0,L $ D, $ 0-(#; $ 10 $ ,#+(1-0 $ EEN $ &$
'#&P#; $ 2#5-2( $ 10 $ EbbF $ *2-C $ ("# $ _7 $ )0I12-0C#0(&' $ Q2-(#+(1-0 $ D9#0+8$
+&'+='&(#;$("&($;1-O10$J-=';$&++=C='&(#$10$+&(('#$10$&$*&2C$;-J0J10;$-*$&0$
10+10#2&(-2$10$\"1-$5-,109$&$21,P$(-$("#$*2#V=#0($K##*$+-0,=C#2$J"1+"$J&,$
3?N???$(1C#,$"19"#2$("&0$*2-C$10"&'&(1-0$&'-0#L$/*$("#$10+10#2&(-2$-5#2&(#;$*-2$
F?$8#&2,$("#$+&0+#2$21,P$*2-C$#&(109$("1,$K##*$2#9='&2'8$J&,$+&'+='&(#;$(-$K#$&$
C&,,1I#$EN>??$5#2$C1''1-0N$*&2$K#8-0;$&++#5(&K'#$21,PF>>L$.#$+&0$&,,=C#$("1,$
,-2($-*$21,P$*2-C$*--;$52-;=+#;$0#&2$C-,($10+10#2&(-2,$-++=2,$2-=(10#'8$&0;$8#($
1($1,$K#109$,-';$ (-$("#$5=K'1+$&0;$2#9='&(-2,$&2#$(=20109 $&$K'10;$#8# $(-$("#$
;&09#2L$
5$-/+&)"#&$1*%&-<0)M-"8-%,+6%#)%-"#-$9%-60#@%1-"8-C"<<*$0#$&-0&-%,+6%#)%-"8&08%$2L $ !"# $ (-O1+ $ #**#+(, $ -* $ @@Sb?Z $ -* $ +"#C1+&', $ &0; $ 5-''=(&0(, $ &2#$
=0P0-J0F>GL $ /( $ 1, $ 1C5-,,1K'# $ (- $ &,,#,, $ ("# $ 21,P $ -* $ ,=K,(&0+#, $ J# $ K&2#'8$
=0;#2,(&0;L$!"1,$1,$5&2(1+='&2'8$(2=#$10$2#'&(1-0,"15$(-$K12("$&0;$;#I#'-5C#0(&'$
;#*#+(,L$:&08$5-''=(&0(,$"&I#$0-($#I#0$K##0$+"&2&+(#21,#;N$'#($&'-0#$&,,#,,#;$
*-2$21,PL
5$ - 0&&*/%& - $90$ - 9%0<$9 - %88%)$& - &*)9 - 0& - +#8%1$+<+$2U - +//*#% - &*CC1%&&+"#U0<$%1%6 - :%90,+"*1 - 0#6 - 1%6*)%6 - +#$%<<%)$*0< - )0C0)+$2 - _9+)9 - 01% - #"$+#)<*6%6-+#-$9%-1+&M-0&&%&&/%#$-)0#-:%-+@#"1%6L$%-J#I#2$("#2#$1,$&C5'#$&0;$
10+2#&,109$#I1;#0+#$("&($C&08$5-''=(&0(,$"&I#$M=,($("#,#$1C5&+(,L$$
5$ - 0&&*/%& - _1"#@<2 - $90$ - %)"&2&$%/& - 90,% - $9% - 0:+<+$2 - $" - 0:&"1: - 0#66%@106%-0<<-%#,+1"#/%#$0<-C"<<*$0#$&L$D9&10$,+1#0+#$+-0(2&;1+(,$("1,A$C&08$
5-''=(&0(,$&2#$P0-J0$(-$K#$5#2,1,(#0($&0;$K1-&++=C='&(1I#L$/0$*&+(N$1*$("#$2&(#$
-*$105=(N$"-J#I#2$,C&''N$1,$92#&(#2$("&0$("#$2&(#$&($J"1+"$("#8$K2#&P$;-J0$("#8$
C=,($&++=C='&(#L$/($1,$#V=1I&'#0($(-$*1''109$=5$&$K=+P#($=0;#2$&$,'-J$;2155109$
(&5A $ ,--0#2 $ -2 $ '&(#2 $ ("# $ J&(#2 $ J1'' $ -I#2*'-J $ =0'#,, $ ("# $ ,-=2+# $ -* $ J&(#2 $ 1,$
,(-55#;L
5$-0&&*/%&-_1"#@<2-$90$-$9%-90D016-C"&%6-:2-%0)9-+#6+,+6*0<-)"/C"*#6$%&$%6-"*$-"8-)"#$%($-0#6-+#-+&"<0$+"#-)0#-C1%6+)$-$9%-90D016-"8-)"/C<%(/+($*1%& - "8 - )9%/+)0<&4$ /0 $ ("# $ 2#&' $ J-2'; $ 5-''=(&0(, $ (851+&''8 $ -++=2 $ 10$
+-CK10&(1-0, $ &0; $ &K=0;&0( $ #I1;#0+# $ 0-J $ #O1,(, $ ("&( $ 10+2#&,#; $ (-O1+1(8 $ 1,$
+-CC-0$J1("$C='(15'#$#O5-,=2#,L$
5$ - 0&&*/%& - _1"#@<2 - $90$$ $9% - )*/*<0$+,% - C"<<*$+"# - :*16%# - "8 - 0<< - $9%%/+&&+"#&-C1"6*)%6-:2-0<<-$9%&%-80)+<+$+%&-)0#-&08%<2-:%-+@#"1%6-0#6-%0)980)+<+$2-)0#-:%-)"#&+6%1%6-+#-+&"<0$+"#4-/($1,$("1,$(85#$-*$'1C1(#;$("10P109$("&($
"&,$'#;$(-$("#$+-0(&C10&(1-0$-*$#0(12#$#+-,8,(#C,$,=+"$&,$("#$k2#&($H&P#,N$
6&'(1+ $ 7#&N $ :#;1(#22&0#&0 $ &0; $ D2+(1+L $ !"#,# $ 5-''=(&0(, $ 5-,# $ 9'-K&' $ &0;$
C='(19#0#2&(1-0&'$("2#&(,$(-$"#&'("$&0;$#+-,8,(#C,L
5$-0&&*/%&-_1"#@<2-$90$-_%-90,%-0-)"/C1%9%#&+,%-*#6%1&$0#6+#@-"8-$9%)"/C<%(+$2-"8-:+"<"@+)0<-C1")%&&%&-0#6-)9%/+)0<-$"(+)+$2-_9%#-+#-1%0<+$2-
GE
$9%1% - 01% - ,0&$ - +#8"1/0$+"# - @0C&4$ !"1, $ 1, $ J"8 $ J# $ "&I# $ K##0 $ +-0,(&0('8$
,=2521,#;$K8$=05'#&,&0($;1,+-I#21#,$'1P#$#0;-+210#$;1,2=5(1-0$&0;$"19"$K-;8$
K=2;#0,$10$0#JK-20,L
E?U 5$-_1"#@<2-0&&*/%&-0<<-C%"C<%-_+<<-1%0)$-+#-$9%-&0/%-_02$(-$5-''=(&0(,$&0;$
10$5&2(1+='&2$190-2#,$("#$*&+($("&($("#$*-#(=,$1,$&($*&2$92#&(#2$21,PL$
$
%1;;#0$J1("10$("1,$(85#$-*$&,,#,,C#0($1,$&$I&'=#$M=;9#C#0($&K-=($J"&($1,$&0$
&++#5(&K'# $ '#I#' $ -* $ 21,PF>Y$ &0; $ ("1, $ 1, $ 0-( $ C&;# $ #O5'1+1(L $ ]-2 $ 10,(&0+# $ J"&( $ 1, $ &0$
&++#5(&K'#$0=CK#2$-*$K12("$;#*#+(,$&0;$J"-$1,$1($&++#5(&K'#$(-j$D$+&0+#2$21,P$-*$E$5#2$
C1''1-0$1,$(851+&''8$+-0,1;#2#;$&++#5(&K'#$K=($C&8$0-($K#$&++#5(&K'#$(-$("#$5#2,-0$
&**#+(#;$K8$("#$+&0+#2L$
41,P$ &,,#,,C#0( $ =,=&''8$10I-'I#, $mC-;#''109nc $a $;1,5#2,1-0 $C-;#', $=,# $&0$
#,(1C&(1-0$-*$#O5-,=2#$;&(&N$2&("#2$("&0$&+(=&'$#O5-,=2#$;&(&N$(-$&,,#,,$("#$1C5&+(,$-*$
5-''=(&0(,$&0;$("#12$'1P#'8$;1,(21K=(1-0L$!"#,#$2#5-2(,$&2#$(851+&''8$52-;=+#;$K8$("#$
5-''=(#2L$!"#$C-;#',$&2#$0-($&++=2&(#$S$C-;#''109$"&,$&$F?Z$+-0*1;#0+#$'#I#'$a$("1,$
C#&0,$("1,$(#+"01V=#$"&,$-0'8$&$F?Z$+"&0+#$-*$&++=2&(#'8$52#;1+(109$("#$92-=0;$'#I#'$
+-0+#0(2&(1-0,$-*$5-''=(&0(,$S$10$-("#2$J-2;,$'#,,$&++=2&(#$("&0$(-,,109$&$+-10L$\0'8$
&K-=( $ "&'* $ ("# $ 52#;1+(1-0, $ &2# $ J1("10 $ & $ *&+(-2 $ -* $ (J- $ -* $ &+(=&' $ T-K,#2I#;U$
+-0+#0(2&(1-0,$&0;$("#$2#,($&2#$#I#0$'#,,$&++=2&(#L$!"#$C-;#',$&((#C5($(-$52#;1+($&$
J-2,( $ +&,# $ ,+#0&21- $ K=( $ ("# $ C-;#', $ +&00-( $ &++=2&(#'8 $ 2#52#,#0( $ 2#&' $ J-2,# $ +&,#$
,+#0&21-,$J"1+"$(851+&''8$-++=2$J"#0$("#2#$1,$'1(('#$-2$0-$J10;$'#&;109$(-$&$K=1';S=5$-*$
5-''=(&0(,L$!"1,$C#&0,$2#&'$J-2,($+&,#$,+#0&21-,$+&0$K#$C=+"$J-2,#$("&0$52#;1+(#;F>XL$
B1**#2#0($C-;#',$+&0$91I#$I#28$;1**#2#0($2#,='(,L
$/0$&;;1(1-0N$52#,#0($C-;#''109$C#("-;,$&2#$0-($-0'8$10&++=2&(#$10$#,(1C&(109$
92-=0; $ '#I#' $ 5-''=(&0( $ +-0+#0(2&(1-0 $ -0+# $ #C1((#; $ K=( $ ("#8 $ &',- $ ,#21-=,'8$
=0;#2#,(1C&(# $ ("# $ V=&0(1(1#, $ -* $ 5-''=(&0(, $ #C1((#;L $ /0 $ 5&2(1+='&2N $ C-;#''109 $ &'C-,($
0#I#2$(&P#,$10(-$&++-=0($,#+-0;&28$5&2(1+='&(#,$*-2C#;$&,$("#$52-;=+(,$-*$+-CK=,(1-0$
21,# $ =5 $ ("# $ ,(&+PL $ !"#,# $ ,#+-0;&28 $ 5&2(1+='&(#, $ +&0 $ ;-=K'# $ ("# $ (-(&' $ I-'=C# $ -*$
5&2(1+='&(#,$T,##$,#+(1-0$>LEUL$
:-;#''109$52-;=+#,$("#$1''=,1-0$-*$&$,+1#0(1*1+$P0-J'#;9#$&0;$&$+#2(&10(8$("&($1,$
#0(12#'8$=0M=,(1*1#;$K8$("#$1C52#+1,#$0&(=2#$-*$C-;#''109$&0;$1($1,$K&,#;$-0$,=K,(&0(1&'$
,+1#0(1*1+ $ =0+#2(&10(8 $ &0; $ '1C1(#; $ ,+1#0(1*1+ $ ;&(&L$ /( $ 52-;=+#, $ & $ C&,, $ -* $ +-C5'#O$
C&("#C&(1+&'$;&(&N$J"1+"$1C5'1#,$=0M=,(1*1#;$52#+1,1-0N$&0;$1($1,$;1**1+='($*-2$5#-5'#$0-($
*&C1'1&2$J1("$("#$C&("#C&(1+,$(-$;1,#0(&09'#$("#$10&++=2&+1#,L$!"1,$J&,$,=CC#;$=5$K8$
("# $ "#&; $ -* $ ("# $ )QD $ [&2+10-9#0 $ D,,#,,C#0( $ k2-=5N $ 4-8 $ D'K#2(N $ J"#0 $ "# $ ,&1;$
m/0;1I1;=&',$J1("$I#28$;1**#2#0($10,(1(=(1-0&'$'-8&'(1#,$+&0$52-;=+#$I#28$;1**#2#0($21,P$
&,,#,,C#0(,$*2-C$("#$,&C#$C&(#21&',N$J"#2#$'&29#$=0+#2(&10(1#,$#O1,(Ln$$/0$-("#2$J-2;,$
1($1,$I#28$#&,8$(-$K1&,$1($(-J&2;,$("#$J&,(#$-5#2&(-2L$/($1,$-*(#0$(2#&(#;$K8$2#9='&(-2, F>@$
&0;$B12#+(-2,$-*$Q=K'1+$%#&'("$&,$1*$1($J&,$&0$&++=2&(#$&,,#,,C#0(L$/0$,51(#$-*$("#,#$
,#I#2#$'1C1(&(1-0,$1($1,$#O(#0,1I#'8$=,#;L$
$ !"#,#$21,P,$&,,#,,C#0(,$"&I#$&'C-,($&'J&8,$+-0+'=;#;$("&($10+10#2&(-2,$&2#$
,&*#$J"1+"$*'1#,$10$("#$*&+#$-*$#51;#C1-'-91+&'$;&(&$J"1+"$,"-J,$("#$-55-,1(#L$/($&',-$
*'1#,$10$("#$*&+#$-*$("#$"1,(-28$-*$+"#C1+&'$=,#L$!"#$'&((#2$1,$'1((#2#;$J1("$#O&C5'#,$-*$
+"#C1+&', $ -0+# $ ,&1; $ (- $ K# $ ,&*# $ J"1+" $ J#2# $ '&(#2 $ *-=0; $ (- $ "&I# $ ;#I&,(&(109 $ &0;$
=0&0(1+15&(#;$#**#+(,N$-*(#0$K#8-0;$("#$J-2,($+&,#$,+#0&21-$T#9$BB!N$Q[6,N$[][,U$
T,##$,#+(1-0$XL>UL
3>4---;*:<+)-L+@9$&-0#6-5#$%1#0$+"#0<-O1%0$+%&
G>
/0 $ >??E $ ("# $ _01(#; $ R&(1-0, $ [-CC1,,1-0 $ -0 $ %=C&0 $ 419"(, $ ,(&(#; $ ("&($
m.).2(*5.&168&01.&23410&0*&+3).&35&6&7*2+<&/2..&/2*-&0*@39&;*++,03*5&65<&.5)32*5-.506+ &
<.426<603*5nL$
/($1,$ =0#("1+&'$("&($5#-5'#$,"-=';$;1#$*2-C$("#$#C1,,1-0,$*2-C$10+10#2&(-2,$
J"#0$,&*#$&'(#20&(1I#,$&2#$&I&1'&K'#$&0;$*-2$("1,$2#&,-0$10+10#2&(1-0$I1-'&(#,$D2(1+'#$>$
-*$("#$)=2-5#&0$%=C&0$419"(,$[-0I#0(1-0N$("#$419"($(-$H1*#L$
!"#$7(-+P"-'C$[-0I#0(1-0N$&92##;$(-$K8$-I#2$E??$+-=0(21#,$10+'=;109$621(&10N$
10 $ >??EN $ +-CC1(, $ +-=0(21#, $ (- $ #'1C10&(109 $ 5#2,1,(#0( $ -29&01+ $ 5-''=(&0(,N $ 10+'=;109$
Q[6N$;1-O10,$&0;$*=2&0,N$+&''109$*-2$+-=0(21#,$(-$52#I#0($0-($M=,($("#$2.+.68.$-*$("#,#$
5-''=(&0(,$K=($&',-$("#12$/*2-603*5L$!"#$*-2C&(1-0$-*$("#,#$,=K,(&0+#,$1,$&0$10#I1(&K'#$
+-0,#V=#0+#$-*$("#$=,#$-*$10+10#2&(-2,L$!"#$[-0I#0(1-0$&',-$2#V=12#,$5&2(1#,$(-$(&P#$
C#&,=2#,$(-$2#;=+#$("#$!"!#$%&'$'#('($-*$("#,#$,=K,(&0+#,$TJ"1+"$10+'=;#,$2#'#&,#,$(-$
*'8$&,"UL$/($1;#0(1*1#,$10+10#2&(-2,$&,$521C&28$,-=2+#,$-*$("#,#$+-C5-=0;,L$/0+10#2&(1-0$
1,N$10$&''$("#,#$J&8,N$&$*'&92&0($I1-'&(1-0$-*$("#$7(-+P"-'C$+-0I#0(1-0L
/0+10#2&(1-0$1,$&',-$&$I1-'&(1-0$-*$("#$)0I12-0C#0(&'$Q2-(#+(1-0$D+($-*$Ebb?$
J"1+"$,(&(#,$("&($("#$_`$C=,($52#I#0($#C1,,1-0,$*2-C$"&2C109$"=C&0$"#&'("L$
3A4---!"#)<*&+"#&EU 5#)+#%10$+"#-6"%&-#"$-1%/",%-_0&$%L$/($,1C5'8$+-0I#2(,$1($10(-$&0-("#2$*-2C$T9&,N$
5&2(1+='&(#,N$&,"U$&0;$("#,#$0#J$*-2C,$&2#$(851+&''8$C-2#$"&W&2;-=,$("-=9"$'#,,$
I1,1K'#$("&0$10$("#$-21910&'$*-2CL
>U Q01@% - %C+6%/+"<"@+)0< - &$*6+%& - 90,% - &9"_# - 9+@9%1 - 10$%& - "8 - 06*<$ - 0#6)9+<69""6-)#*)'&(-0#6-"8-+,&!-%.'/')!(-01"*#6-+#)+#%10$"1&L$7C&''#2$,(=;1#,$&0;$
& $ '&29# $ K-;8 $ -* $ 2#'&(#; $ 2#,#&2+" $ ,=55-2( $ ("#,# $ *10;109,N $ 5-10( $ (- $ & $ +&=,&'$
2#'&(1-0,"15N$&0;$,=99#,($("&($&$C=+"$J1;#2$2&09#$-*$1''0#,,#,$C&8$K#$10I-'I#;L$
FU $L%)%#$-1%&%01)9-90&-)"#8+1/%6-$90$-C01$+)*<0$%-C"<<*$+"#U-%&C%)+0<<2-$9%-/,*'%
0#&!,)1$#!' %W;H74EX-C"<<*$+"#U-_9+)9-+&-$2C+)0<-"8-+#)+#%10$"1-%/+&&+"#&U-+&-0#+/C"1$0#$- )"#$1+:*$"1- $" --'#&!%.,('#('2%$1*3 %)#*)'&U-0#6-0# -0&&"1$/%#$-"8"$9%1-6+&%0&%&U-0#6-)0*&%&-0-$,*'#&%,*)&'#('%,*%4"&!#$,!54$!"#$'&(#,($2#,#&2+"$"&,$
*-=0;$ ("#2#$1,$&$C=+" $92#&(#2 $#**#+($-0$C-2(&'1(8$("&0$52#I1-=,'8$("-=9"($&0;$
1C5'1#, $ ("&( $ 10+10#2&(-2, $ J1'' $ +&=,# $ 10+2#&,#, $ 10 $ +&2;1-I&,+='&2 $ &0;$
+#2#K2-I&,+='&2 $ C-2K1;1(8 $ &0; $ C-2(&'1(8 $ J1(" $ K-(" $ ,"-2(S(#2C $ &0; $ '-09S(#2C$
#O5-,=2#L$Q&2(1+='&(#,$*2-C$10+10#2&(-2,$J1''$K#$#,5#+1&''8$"&W&2;-=,$;=#$(-$("#$
(-O1+$+"#C1+&',$&((&+"#;$(-$("#CL$
3U \("#2$5-''=(&0(,$#C1((#;$K8$10+10#2&(-2,$10+'=;#$"#&I8$C#(&',$&0;$&$'&29#$I&21#(8$
-*$-29&01+$+"#C1+&',L$O9%&%-&*:&$0#)%&-+#)<*6%-M#"_#-)01)+#"@%#&U-%#6")1+#%6+&1*C$"1&U-0#6-&*:&$0#)%&-$90$-)0#-0$$0)9-$"-@%#%&U-0<$%1-:%90,+"*1U-60/0@%$9%-+//*#%-&2&$%/-0#6-6%)1%0&%-+#$%<<+@%#)%4$!"#2#$&55#&2,$(-$K#$0-$("2#,"-';$
*-2$,-C#$-*$("#,#$#**#+(,N$,=+"$&,$#0;-+210#$;1,2=5(1-0L$!"#$;&09#2,$-*$("#,#$&2#$
,#'*S#I1;#0(L$$7-C#$-*$("#,#$+-C5-=0;,$"&I#$K##0$;#(#+(#;$"=0;2#;,$(-$("-=,&0;,$
-*$C1'#,$&J&8$*2-C$("#12$,-=2+#L
GU !"# $ ;&09#2 $ -* $ 10+10#2&(109 $ 2&;1-&+(1I# $ J&,(# $ ;#,#2I#, $ ,5#+1&' $ C#0(1-0L$
/0+10#2&(1-0$+-0I#2(, $2&;1-&+(1I# $J&,(#$10(-$K1''1-0, $-*$2&;1-&+(1I#$5&2(1+='&(#,L$
!"#,# $ 5&2(1+='&(#, $ C&P# $ & $ 0#&2 $ 5#2*#+( $ ;#'1I#28 $ ,8,(#C $ *-2 $ 10(2-;=+109 $ ("#$
2&;1-&+(1I# $ C&((#2 $ 10(- $ ("# $ "=C&0 $ K-;8N $ J"#2# $ 1( $ +&0 $ ("#0 $ &+( $ &, $ &0 $ 10(#20&'$
#C1((#2 $ -* $ &'5"& $ -2 $ K#(& $ 2&;1&(1-0L $O9+& - $2C% - "8 - 106+0$+"# - +& - i*0<+$0$+,%<26+88%1%#$U - 801 - /"1% - 60#@%1"*& - 0#6 - 801 - /"1% - &+#+&$%1U - $90# - :0)M@1"*#6-
GF
106+0$+"#4$ !"#2#$+&0$K#$0-$M=,(1*1+&(1-0$*-2$=,109$("1,$C#("-;$-*$;#&'109$J1("$
2&;1-&+(1I#$J&,(#L$
YU $H"6%1#-+#)+#%10$"1&-C1"6*)%-8<2-0&9-_9+)9-+&-/*)9-/"1%-$"(+)-$90#-+#-$9%C0&$U-+-0(&10109$'&29#$V=&0(1(1#,$-*$;1-O10S21+"$C&(#21&'$*-2$J"1+"$("#2#$1,$0-$,&*#$
C#("-;$ -*$ $;1,5-,&'N $#O+#5( $I1(21*1+&(1-0N $&$C#("-; $0-($K#109$=,#;$10$("#$_`L$
B1,5-,&'$-*$10+10#2&(-2$&,"$(-$'&0;*1''$,1(#,$1,$&,,-+1&(#;$J1("$'-09S(#2C$("2#&(,$(-$
&V=1*#2,$&0;$J&(#2$(&K'#,$&0;$("#$5-(#0(1&'$*-2$&++1;#0(,$,#21-=,$#0-=9"$(-$2#V=12#$
#I&+=&(1-0$-*$&0$&2#&L$$
XU O9%-1+&M&-$"-<")0<-C%"C<%-$90$-"))*1-_9%#-+#)+#%10$"1&-"C%10$%-*#6%1-#"#P
&$0#6016 - _"1M+#@ - )"#6+$+"#& - 90,% - #"$ - :%%# - 0661%&&%6U -5&2(1+='&2'8 $ ("#$
#C1,,1-0, $&($,(&2(S=5$&0;$,"=(;-J0$J"1+"$C&8$K#$&,,-+1&(#; $J1("$("#$2#'#&,#N$
J1("10$>$;&8,N$-*$C-2#$;1-O10$("&0$-I#2$Y$C-0(",$-*$ $J-2P109$=0;#2$,(&0;&2;$
+-0;1(1-0,L
@U O9%-@1%0$%&$-)"#)%1#-+&-$9%-$"*36!'&4-%88%)$&-"8-+#)+#%10$"1-%/+&&+"#&-"#-$9%6%,%<"C+#@-%/:12"-0#6-+#80#$U-0#6-$9%-1%0<-C"&&+:+<+$2-$90$-@%#%$+)-)90#@%&_+<<-"))*1-0#6-:%-C0&&%6-"#-$"-&*))%%6+#@-@%#%10$+"#&4$]&2$92#&(#2$I='0#2&K1'1(8$
(-$(-O10,$"&,$K##0$;-+=C#0(#;$*-2$("#$I#28$8-=09N$5&2(1+='&2'8$*-#(=,#,N$J1("$21,P,$
-*$+&0+#2N$,5-0(&0#-=,$&K-2(1-0N$K12("$;#*#+(,$-2$5#2C&0#0($+-901(1I#$;&C&9#L$D$
J-228109'8 $ "19" $ K-;8 $ K=2;#0 $ -* $ 5-''=(&0(, $ "&, $ 2#+#0('8 $ K##0 $ 2#5-2(#; $ 10 $ (J-$
,(=;1#,$-*$+-2;$K'--;$*2-C$0#JSK-20$K&K1#,L
bU T0&$%-+#)+#%10$+"#-+&-C1"9+:+$+,%<2-'70'*(,8'-_9%#-9%0<$9-)"&$&-01%-$0M%#-+#$"0))"*#$4$D$I&21#(8$-*$,(=;1#,N$10+'=;109$("&($*2-C$("#$9-I#20C#0(N$10;1+&(#$("&($&$
,109'# $ '&29# $ 10+10#2&(-2 $ +-='; $ +-,( $ ("# $ (&O $ 5&8#2 $ C&08 $ C1''1-0 $ -* $ 5-=0;, $ 5#2$
&00=C$10$"#&'("$+-,(,L$Q=($,1C5'8N$("#$9-I#20C#0(^,$-J0$;&(&$1,$;#C-0,(2&(109$
("&($10+10#2&(-2,$&2#$&$C&M-2$"#&'("$"&W&2;L$.1("$("#$52#;1+(#;$10+'=,1-0$-*$("#$
J&,(# $ 10;=,(28 $ J1("10 $ ("# $ )_ $ )=2-5#&0 $ )C1,,1-0, $ !2&;109 $ 7+"#C#N $ '-+&'$
(&O5&8#2,N$10$&2#&,$J1("$10+10#2&(-2,N$J1''$0-($-0'8$"&I#$(-$'1I#$J1("10$&$5-''=(#;$
&2#&$K=($J1''$K#$,&;;'#;$J1("$+-,(,N$=0;#2$)!7N$-*$C1''1-0,$-*$5-=0;,$5#2$&00=C$
(-$5&8$*-2$1(L
E?U T0&$%-+#)+#%10$+"#-+&-*#`*&$-:%)0*&%-+$&-/0(+/*/-$"(+)-+/C0)$-+&-"#-$9%-/"&$,*<#%10:<%-/%/:%1&-"8-"*1-&")+%$2U-$9%-*#:"1#-)9+<6U-)9+<61%#U-$9%-C""1-0#6$9% - )9%/+)0<<2 - &%#&+$+,%4$ $ /( $ +-0(2&I#0#, $ ("# $ _01(#; $ R&(1-0, $ [-CC1,,1-0 $ -0$
%=C&0$419"(,N$("#$)=2-5#&0$%=C&0$419"(,$[-0I#0(1-0$T("#$419"($(-$H1*#UN$&0;$
("#$7(-+P"-'C$[-0I#0(1-0N$&0;$I1-'&(#,$("#$)0I12-0C#0(&'$Q2-(#+(1-0$D+($-*$Ebb?$
J"1+"$,(&(#,$("&($("#$_`$C=,($52#I#0($#C1,,1-0,$*2-C$"&2C109$"=C&0$"#&'("L
3E4-L%)"//%#60$+"#&
EU$!"#$,&*#,($C#("-;,$-*$J&,(#$;1,5-,&'$,"-=';$K#$=,#;L$
>U $ %#&'(" $ +-,(, $ ,"-='; $ K# $ 2-=(10#'8 $ (&P#0 $ 10(- $ &++-=0( $ J"#0 $ ;#+1;109 $ -0 $ J&,(#$
;1,5-,&'$,(2&(#91#,L
FU$!"#$52#,#0($'1C1(#;$C#("-;$-*$21,P$&,,#,,C#0($K8$J"1+"$("#$,&*#(8$-*$52-5-,#;$
10,(&''&(1-0,$1,$M=;9#;N$1,$10&;#V=&(#N$+&0$#&,1'8$K#$K1&,#;$(-J&2;,$("#$J&,(#$-5#2&(-2N$
+&00-($K#$2#'1#;$-0N$&0;$,"-=';$K#$2#I1#J#;L
3U$!&+P'109$("#$52-K'#C,$-*$K-("$("#$&C-=0($&0;$("#$0&(=2#$-*$J&,(#$9#0#2&(#;$1,$-*$
+21(1+&'$1C5-2(&0+#N$J1("$("#$#C5"&,1,$-0$2#;=+109$("#$52-;=+(1-0$-*$J&,(#N$&0;$-0$
2#+8+'109L$
G3
GU$!"#$,#21-=,$"#&'("$+-0,#V=#0+#,$-*$*10#$5&2(1+='&(#$5-''=(1-0$"&I#$K#+-C#$&55&2#0($
10$("#$'&,($(#0$8#&2,A$10+10#2&(-2,$&2#$&$,1901*1+&0($,-=2+#$&0;N$*-2$("1,$2#&,-0$&'-0#N$10$
-=2$+-0,1;#2#;$-5101-0N$10+10#2&(1-0 $1,$("#$'#&,($52#*#22#;$-5(1-0$*-2$9#((109$21;$-*$
J&,(#L$ $!&P109$10(-$+-0,1;#2&(1-0$&''$("#$10*-2C&(1-0$&I&1'&K'#N $10+'=;109 $2#,#&2+"$
10;1+&(109$("&($("#2#$&2#$0-$,&*#$'#I#',$*-2$*10#$5&2(1+='&(#,N$("#$10+2#&,109$&C-=0($-*$
5'&,(1+$&0;$2#'&(#;$,=K,(&0+#,$10$("#$J&,(#$,(2#&C$&0;$("#$"19"'8$(-O1+$&,"$52-;=+#;$
K8$C-;#20$10+10#2&(-2,N$J#$+&0$,##$0-$2#&,-0$(-$K#'1#I#$("&($("#$0#O($9#0#2&(1-0$-*$
10+10#2&(-2,$J-=';$K#$,=K,(&0(1&''8$,&*#2$("&0$("#$52#I1-=,$-0#,L$$
YU$Z01-&08%1-0<$%1#0$+,%-/%$9"6&-01%-#"_-0,0+<0:<%$10+'=;109$2#+8+'109N$C#+"&01+&'$
K1-'-91+&' $ (2#&(C#0(N $ &#2-K1+ $ ;19#,(1-0 $ &0; $ 5'&,C& $ 9&,1*1+&(1-0A $ & $ +-CK10&(1-0 $ -*$
("#,#$J-=';$K#$,&*#2N$J-=';$52-;=+#$C-2#$#0#298N$J-=';$K#$+"#&5#2$("&0$10+10#2&(1-0$
10$("#$'-09$2=0$&0;$J-=';$K#$C=+"$+"#&5#2$J"#0$"#&'("$+-,(,$&2#$(&P#0$10(-$&++-=0(L$
!"#2C&' $ C#("-;, $ ,"-='; $ -0'8 $ K# $ =,#; $ *-2 $ 2#,1;=&'N $ 0-0S2#+8+'&K'# $ J&,(# $ &0; $ ("#$
,&*#,($("#2C&'$C#("-;$,"-=';$K#$+"-,#0A$+=22#0('8$("1,$1,$5'&,C&$9&,1*1+&(1-0L$!"1,$0-($
-0'8$52-;=+#,$C-2#$#0#298$K=($+&0$=,#$5'&,(1+,$&,$&$2#,-=2+#L$!"#,#$C-2#$&;I&0+#;$
C#("-;,$,"-=';$K#$#C5'-8#;L
XU$O9+&-1%C"1$-610_&-0$$%#$+"#-$"-$9%-/0#2-6%8+)+%#)+%&-0#6-C""1-i*0<+$2-"8-$9%C1%&%#$-/"#+$"1+#@-C1")%6*1%&4$.#$2#+-CC#0;$("#$10(2-;=+(1-0$-*$&$*&2$,(21+(#2$&0;$
C-2#$+-C52#"#0,1I#$,8,(#C$*-2$("#$C-01(-2109$-*$&''$J&,(#SK=20109$5'&0(,$K8$&$*=''8$
10;#5#0;#0( $ K-;8N $ 10+'=;109 $ 2&0;-C $ =0&00-=0+#; $ I1,1(,A $ ("# $ C-01(-2109 $ ,"-=';$
10+'=;#A
&U !"#$+#*"*&-/"#+$"1+#@-"8-6+"(+#&-j-$9+&-+&-0#-0:&"<*$%-%&&%#$+0<-0#6U-#"$&*1C1+&+#@<2U-+&-/0#60$"12-+#-&"/%-)"*#$1+%&4$ !"1,$I1(&'$,(#5$1,$#,,#0(1&'$
K#+&=,# $ -* $ ("# $ #O(2#C#'8 $ (-O1+ $ 0&(=2# $ -* $ ("# $ 5-''=(1-0 $ #C1((#; $ J"#0$
10+10#2&(-2$5-''=(1-0$+-0(2-'$;#I1+#,$&2#$K8S5&,,#;L$!"#$_`$,"-=';$0-($"&I#$
("#$,#+-0;$2&(#$,&*#(8$,(&0;&2;,$("&($("#8$"&I#$&($52#,#0(L
KU [-0(10=-=,$C-01(-2109$-*$Q:>LG$5&2(1+='&(#,$&0;$C-01(-2109$-*$Q6B),L$
+U D $ +-C52#"#0,1I# $ ,8,(#C $ -* $ C-01(-2, $ ,#( $ =5 $ K8 $ [-=0+1', $ &2-=0; $ &''$
10+10#2&(-2,$(-$C#&,=2#$5&2(1+='&(#,$&0;$"#&I8$C#(&',L$
;U H"#+$"1+#@-"8-6+"(+#-+#-0<<-<+,%&$")M-_+$9+#-0-E-/+<%-106+*&-"8-+#)+#%10$"1&6*%-$"-$9%-M#"_#-0#6-&%1+"*&-1+&M-81"/-:+"0))*/*<0$+"#-+#-8""6L$
#U Q#21-;1+$C-01(-2109$-*$("#$"#&I8$C#(&',$&0;$;1-O10,$10$("#$*'8$&,"
*U D$52-92&CC#$-*$C-01(-2109$("#$K-;8$K=2;#0,$-*$,-C#$P#8$5-''=(&0(,$10$'-+&'$
10"&K1(&0(,L
9U Q#21-;1+$C-01(-2109$-*$("#$+-0(#0($-*$;=,($10$"-C#,$10$("#$'-+&'1(8
@U$$/($1,$5&2(1+='&2'8$1C5-2(&0($("&($10+10#2&(-2,$,"-=';$0-($K#$,1(#;$10$;#521I#;$&2#&,$-2$
&2#&,$J1("$"19"$2&(#,$-*$C-2(&'1(8$J"#2#$("#12$"#&'("$1C5&+($1,$'1P#'8$(-$K#$92#&(#,(L$
!"1,$+&0$-0'8$&;;$(-$"#&'("$10#V=&'1(1#,L$TR6L$Q2#,#0('8$b$-=($-*$E3$10+10#2&(-2,$"&I#$
K##0$K=1'($10$("#$C-,($;#521I#;$>?Z$-*$J&2;,F>bUL
bU$!"#$52#,#0($,=K,1;1#,$&0;$(&O$&;I&0(&9#,N$J"1+"$*&I-=2$10+10#2&(1-0N$,"-=';$K#$
2#C-I#;L$D$K&0$-2$(&O$-0$2#+8+'&K'#$C&(#21&'$9-109$(-$10+10#2&(-2,$-2$'&0;*1''$;#,#2I#,$
GG
,#21-=,$+-0,1;#2&(1-0L$/($1,$0-0,#0,#$(-$2#9&2;$K-((-C$&,"N$J1("$1(,$,1901*1+&0($;1-O10$
+-0(#0(N$&,$&0$10#2($,=K,(&0+#$&0;$1($,"-=';$10+=2$'&0;*1''$(&O$&($&$"19"#2$2&(#L$
E?X-T%-1%)"//%#6-$90$-#"-8*1$9%1-_0&$%-+#)+#%10$"1&-:%-:*+<$L$$
L%8%1%#)%&k
.%)$+"#-74-'/+&&+"#&-81"/-5#)+#%10$"1&-0#6-"$9%1-!"/:*&$+"#-."*1)%&
743-;01$+)*<0$%&
EU$)[$TEbb@U$Q2-5-,&'$*-2$&$[-=0+1'$B12#+(1I#$-0$("#$10+10#2&(1-0$-*$J&,(#L$62=,,#',$?XLE?LEbb@$
[\:$TEbbbU$GG@*10&'L$b@o?>@b$T7iRUL
>U $ %-J&2; $ [ $ d $ T>???U $I5$ %#&'(" $ /C5&+(, $ -* $ .&,(# $ :&0&9#C#0( $ Q-'1+1#,L $ %155-+2&(#,$
]-=0;&(1-0N$`-,N$k2##+#$E>SE3$R-I$Ebb@L$D+&;#C1+$Q=K'1,"#2,L
FU$Q#2,-0&'$+-CC=01+&(1-0N$Q#(#2$4-,,109(-0$67+$T%-0UN$:47[N$["#C1+&'$[-0,='(&0(L$>??GL
3U$$),510-,&$D<N$4-;21V=#W$:!N$6&22&9&0$;#$'&$4-,&$]<$#($&'L$$$71W#$;1,(21K=(1-0$-*$C#(&',$10$=2K&0$
&#2-,-',$10$7#I1''#$T75&10UL$$D(C-,$)0I12-0$>??Ec$FGA$>GbGS>Y?EL
GU$6&#P$7\N$]1#';$4DN$k-';,(-0#$:)$#($&'L$ $ $D$ $2#I1#J$-*$&(C-,5"#21+$5-'8+8+'1+ $&2-C&(1+$
"8;2-+&2K-0,A$,-=2+#,N$*&(#$&0;$K#"&I1-=2L$$.&(#2N$D12$7-1'$Q-''=(1-0N$EbbEc$Y?A$>XbSF??L
YU $ Q1,(1P-5-='-, $ QN $ :&,+#'#( $ QN $ :-=I1#2 $ kL $ D $ 2#+#5(-2 $ C-;#' $ &;&5(#; $ (- $ 2#&+(1I# $ ,5#+1#, $ a$
5-'8+8+'1+$&2-C&(1+$"8;2-+&2K-0,$S$#I&'=&(1-0$-*$,-=2+#$+-0(21K=(1-0,$10$&0$-5#0$=2K&0$,1(#L$
D(C-,$)0I12-0$DSk#0$Ebb?c$>3A$EE@bSbXL
XU$d#0P&(&2&C&0$[N$]21#;'&0;#2$7`L$7-=2+#$2#,-'=(1-0$-*$*10#$5&2(1+='&(#$5-'8+8+'1+$&2-C&(1+$
"8;2-+&2K-0,$a$=,109$&$2#+#5(-2$C-;#'$C-;1*1#;$*-2$2#&+(1I1(8L$$$<$D12$.&,(#$:&0&9#C#0(c$
Ebb3c$33A$EE?FS?@L
@U$pC12-=$BN$:&,+'#($QN$6-=;#($[N$$B#+"#0&=O$<L$$Q#2,-0&'$#O5-,=2#$(-$&(C-,5"#21+$5-'8+8+'1+$
"8;2-+&2K-0,$10$&$9#0#2&'$&;='($5-5='&(1-0$&0;$'=09$+&0+#2$&,,#,,C#0(L$$$$$<$\++=5$)0I12-0$
:#;$>???c$3>T>UA$E>ESYL
74A-B1@0#+)-;"<<*$0#$&
bU$`#2PI'1#($R/L$$/CC=0-(-O1+-'-98$-*$;1-O10,$&0;$2#'&(#;$+-C5-=0;,L$$I5&$7+"#+(#2N$B1-O10,$&0;$
%#&'("$5$EbbS>>GL
E?U$."8&(($4:N$7&0(#''&$4:N$<#;28+"-J,P1$.$#($&'L$$4#'&(1-0,"15$K#(J##0$&CK1#0($&12$5-''=(1-0$
&0;$BRD$;&C&9#$10$Q-'1,"$C-("#2,$&0;$0#JK-20,L$$)0I12-0$%#&'("$Q#2,5#+(N$Ebb@c$E?Y$
7=55'$FA$@>ESY
EEU$$Q-2(#2*1#';$7QL$$d='0#2&K1'1(8$-*$("#$;#I#'-5109$K2&10$(-$("82-1;$&K0-2C&'1(1#,$&0;$
#0I12-0C#0(&'$10,='(,$(-$("#$("82-1;$,8,(#CL$$)0I12-0$%#&'("$Q#2,5#+($Ebb3c$E?>$7=55$>A$
E>GSF?L$
E>U$Q#(#2,$<:N$!"-C&,$BN$]&'P$%$#($&'L$$[-0(21K=(1-0$-*$C#(&',$(-$2#,512&(-28$+&0+#2L$$)0I12-0$
%#&'("$Q#2,5#+($Eb@YcX?A$XES@FL
EFU$k-((,+&'P$HDN$4#K#''-$!N$6=+",K&=C$:7$#($&'L$DK0-2C&'1(1#,$10$"&12$(2&+#$#'#C#0(,$&,$
10;1+&(-2,$-*$&K#22&0($K#"&I1-=2L$$[-C5$Q8,+"1&(28$EbbEc$F>$TFUA$>>bSFXL
E3U$$!-09$7N$6&9"=2,($QN$:+:1+"&#'$D$#($&'L$$$H1*#(1C#$#O5-,=2#$(-$#0I12-0C#0(&'$'#&;$&0;$
+"1';2#0^,$10(#''19#0+#$&($EE$a$EF$8#&2,A$("#$Q-2($Q121#$[-"-2($7(=;8L$$6:<$EbbYc$FE>$TX?3YUA$
EGYbSXGL
EGU$$7#;C&0$4:N$),5&2W&$<4L$$)I&'=&(1-0$-*$("#$5=K'1+$"#&'("$21,P,$&,,-+1&(#;$J1("$,#C1I-'&(1'#$
C#(&'$&0;$;1-O10$#C1,,1-0,$*2-C$"&W&2;-=,$J&,(#$10+10#2&(-2,L$$)0I12-0$%#&'("$Q#2,5#+($
EbbEc$b3A$E@ESXL
EYU$)21+P,,-0$QN$<&P-K,,-0$)N$]2#;21P,,-0$DL$$62-C10&(#;$*'&C#$2#(&2;&0(,A$D$0-I#'$+'&,,$-*$
;#I#'-5C#0(&'$0#=2-(-O1+&0(,$10$-=2$#0I12-0C#0(j$$)0I12-0$%#&'("$Q#2,5#+(N$>??Ec$E?bTEUA$
b?FSb?@L
GY
EXU$\',,-0$QS)N$6-29$6N$62=0,(2-C$6N$%&P&0,,-0$%N$`'&,,-0S.#"'#2$)L$$)0;-+210#$;1,2=5(109$
,=K,(&0+#,L$$/76R$bESY>?S3@GbSXN$7J#;1,"$)QDN$7(-+P"-'C$Ebb@L
.%)$+"#->4-=%0<$9-%88%)$&-"8-;"<<*$0#$&
>43-;01$+)*<0$%&
E@U$.%\$D12$g=&'1(8$k=1;#'10#,N$EbbbN$["&5(#2$FL
EbU$B-+P#28$B.N$Q-5#$[&$F2;N$v=$v$#($&'L$D0$&,,-+1&(1-0$K#(J##0$&12$5-''=(1-0$&0;$C-2(&'1(8$10$
,1O$_7$+1(1#,L$$R$)09$<$:#;$EbbFc$F>bT>3UA$EXGFSbL
>?U$Q-5#$[DN$!"=0$:<N$R&CK--;121$::$#($&'L$$$Q&2(1+='&(#$&12$5-''=(1-0$&,$&$52#;1+(-2$-*$
C-2(&'1(8$10$&$52-,5#+(1I#$,(=;8$-*$_7$&;='(,L$$DC$<$4#,512$[21($[&2#$:#;$EbbGc$EGE$TF$5($EUA$
YYbSX3L
>EU$;#$%&2(-9$<<N$%-#P$kN$Q#(#2,$DN$#($&'L$)**#+(,$-*$*10#$&0;$='(2&*10#$5&2(1+'#,$-0$
+&2;1-2#,512&(-28$,8C5(-C,$10$#';#2'8$,=KM#+(,$J1("$+-2-0&28$"#&2($;1,#&,#A$("#$_H!4D$
7(=;8L$$DC$<$)51;#C1-'-98$>??Fc$EGXTXUA$YEFS>FL
>>U$R#CC&2$DN$%-#($Q%N$d&0V=1+P#0K-20#$6$$#($&'L$$Q&,,&9#$-*$10"&'#;$5&2(1+'#,$10(-$("#$K'--;$
+12+='&(1-0$10$"=C&0,L$$[12+='&(1-0$>??>c$E?GT3UA$3EES3L
>FU$:&80&2;$4HN$%-J&2;$[dN$D12$Q-''=(1-0$&0;$%#&'("N$H-0;-0A$D+&;#C1+$Q2#,,$EbbbA$YXFSX?GL
>3U$Q-0P&$DN$d12(&0#0$:L$D,("C&$&0;$&12$5-''=(1-0$10$%#',10P1L$<$)51;#C1-'$[-CC=01(8$%#&'("$
EbbYc$G?$7=55'$EA$,GbSY>L
>GU$Q&2(1+='&(#$:&((#2A$Q2-5#2(1#,$&0;$)**#+(,$=5-0$%#&'("N$6/\7$7+1#0(1*1+$Q=K'1,"#2,$H(;N$
\O*-2;$5$YFS@3L
>YU$D12K-20#$Q&2(1+='&(#$:&((#2$10$("#$_01(#;$`109;-CL$!"12;$4#5-2($-*$("#$g=&'1(8$-*$D12$
4#I1#J$k2-=5$Tg_D4kU$:&8$EbbYN$/76R$?$bG>?XXE$F$>L
>XU$$k-';K#29$:7N$6=20#(($4!N$6&1'&2$<[$#($&'L$$$!"#$&,,-+1&(1-0$K#(J##0$;&1'8$C-2(&'1(8$&0;$
&CK1#0($&12$5&2(1+'#$5-''=(1-0$10$:-0(2#&'N$g=#K#+L$>L$[&=,#S,5#+1*1+$C-2(&'1(8L$$)0I12-0$4#,$
>??EA$@YTEUA$>YSFYL
>@U$Q-5#$[DN$6=20#(($4!N$!"=0$:<N$#($&'L$$H=09$+&0+#2N$+&2;1-5='C-0&28$C-2(&'1(8N$&0;$'-09S
(#2C$#O5-,=2#$(-$*10#$5&2(1+='&(#$&12$5-''=(1-0L$<D:D$>??>c$>@XTbUA$EEF>S3EL$
>bU$."1(C&0$I$DC#21+&0$!2=+P109$D,,-+$/0+$GF>$_7$3GX$T>??EUL$
F?U$4#S&0&'8,1,$-*$("#$%&2I&2;$71O$[1(1#,$7(=;8$&0;$("#$DC#21+&0$$[&0+#2$7-+1#(8$7(=;8$-*$
Q&2(1+='&(#$D12$Q-''=(1-0$&0;$:-2(&'1(8A$75#+1&'$4#5-2(L$[&CK21;9#N$:&,,A$%#&'("$)**#+(,$
/0,(1(=(#$<='8$>???N$'#;$K8$B2$B&01#'$`2#J#,P1L
FEU$\,(2-$6N$["#,(0=($HL$$D,,#,,109$("#$K#0#*1(,$-*$2#;=+109$5&2(1+='&(#$C&((#2$&0;$5-''=(1-0$10$("#$
_01(#;$7(&(#,L$)0I12-0$4#,$Ebb@c$XYT>UA$b3SE?YL
F>U$$Q-5#$[DN$6=C#(($4!N$!"=2,(-0$kB$#($&'L$$[&2;1-I&,+='&2$:-2(&'1(8$&0;$H-09S!#2C$
)O5-,=2#$(-$Q&2(1+='&(#$D12$Q-''=(1-0A$)51;#C1-'-91+&'$)I1;#0+#$-*$k#0#2&'$
Q&("-5"8,1-'-91+&'$Q&("J&8,$-*$B1,#&,#L$[12+='&(1-0$>??3c$E?bA$XESXX>
FFU$:1''#2$`DN$71,+-I1+P$B7N$7"#55&2;HN$#($&'L$H-09$(#2C$#O5-,=2#$(-$&12$5-''=(1-0$&0;$10+1;#0+#$
-*$+&2;1-I&,+='&2$#I#0(,$10$J-C#0L$R$)09$<$:#;$>??XN$FGYA33XS3G@
F3U$Q#(#2,$DN$B-+P#28$B.N$:=''#2$<)$#($&'L$/0+2#&,#;$5&2(1+='&(#$&12$5-''=(1-0$&0;$("#$(2199#2109$
-*$C8-+&2;1&'$10*&2+(1-0L$$[12+='&(1-0$>??Ec$E?F$T>FUA$>@E?SGL
FGU$%-09$i[N$H##$<!N$`1C$%N$`J-0$%<L$$$D12$5-''=(1-0A$&$0#J$21,P$*&+(-2$10$1,+"#C1+$,(2-P#$
C-2(&'1(8L$7(2-P#$>??>c$FFTbUA$>EYGSbL
FYU$%-#P$kN$62=0#P2##*$6N$]1,+"#2$Q$#($&'L$$$!"#$&,,-+1&(1-0$K#(J##0$&12$5-''=(1-0$&0;$"#&2($
*&1'=2#N$&22"8("C1&N$#CK-'1,CN$("2-CK-,1,$&0;$-("#2$+&2;1-I&,+='&2$+&=,#,$-*$;#&("$10$&$(1C#$
,#21#,L$)51;#C1-'-98$>??Ec$E>TFUA$FGGSXL
FXU$:&"#,J&2&0$4N$%&10109$4QN$6210;'#8$Q$#($&'L$$$\=(;--2$&12$5-''=(1-0$&0;$7(2-P#$10$7"#**1#';N$
_01(#;$`109;-CN$7C&''SD2#&$k#-92&5"1+&'$7(=;8L$$7(2-P#$>??Gc$FYT>UA$>FbS3FL
F@U$7+"J&2(W$<L$D12$5-''=(1-0$&0;$"-,51(&'$&;C1,,1-0,$*-2$"#&2($;1,#&,#$10$#19"($_7$+-=0(1#,L$
)51;#C1-'-98$Ebbbc$E?TEUA$EXS>>L
FbU$6&++#2#''1$DN$:&2(10#''1$/N$p&0-K#((1$D$#($&'L$)O5-,=2#$(-$5&2(1+='&(#$&12$5-''=(1-0$&0;$21,P$-*$
;##5$I#0-=,$("2-CK-,1,L$D2+"$/0($:#;$>??@c$EY@TbUAb>?SX
GX
3?U$p&0-K#((1$DN$7+"J&2(W$<L$$[&2;1-I&,+='&2$;&C&9#$K8$&12K-20#$5&2(1+'#,A$&2#$;1&K#(1+,$C-2#$
,=,+#5(1K'#j$$)51;#C1-'-98$>??>c$EFTGUA$G@@Sb>L
3EU$Q#(#2,$DN$H1=$)N$d#221#2$4H$#($&'L$$$D12$5-''=(1-0$&0;$10+1;#0+#$-*$+&2;1&+$&22"8("C1&L$
)51;#C1-'-98$>???c$EETEUA$EESXL
3>U$Q#PP&0#0$<N$Q#(#2,$DN$%-#P$kN$#($&'L$$$Q&2(1+='&(#$&12$5-''=(1-0$&0;$21,P$-*$7!$,#9C#0($
;#52#,,1-0$;=2109$,=KC&O1C&'$#O#2+1,#$(#,(,$&C-09$,=KM#+(,$J1("$+-2-0&28$"#&2($;1,#&,#A$("#$
)O5-,=2#$&0;$41,P$D,,#,,C#0($*-2$]10#$&0;$_'(2&*10#$Q&2(1+'#,$10$DCK1#0($D12$T_H!4DU$
,(=;8L$$[12+='&(1-0$>??>c$E?YA$bFFSF@L
3FU$k-';K#29$:7N$6=20#(($4!N$6&1'&2$<[$F2;$#($&'L$$$/;#0(1*1+&(1-0$-*$5#2,-0,$J1("$
+&2;1-2#,512&(-28$+-0;1(1-0,$J"-$&2#$&($21,P$-*$;8109$*2-C$("#$&+=(#$#**#+(,$-*$&CK1#0($&12$
5&2(1+'#,L$$$)0I12-0$%#&'("$Q#2,5#+($>??Ec$E?b$7=55$3A$3@XSb3L
33U$Q#2#2&$]QN$!&09$BN$!=$i%$$#($&'L$$61-C&2P#2,$10$C&(#20&'$&0;$0#JK-20$K'--;$10;1+&(#$
"#19"(#0#;$*#(&'$,=,+#5(1K1'1(8$(-$52-+&2+10-9#01+$BRD$;&C&9#L$$)0I12-0$%#&'("$Q#2,5#+($
>??3c$EE>TE?UA$EEFFSYL
3GU$<#;28+"-J,P1$.N$6#0;P-J,P&$/N$]'&P$)$#($&'L$$),(1C&(#;$21,P$*-2$&'(#2#;$*#(&'$92-J("$2#,='(109$
*2-C$#O5-,=2#$(-$*10#$5&2(1+'#,$;=2109$52#90&0+8A$&0$#51;#C1-'-91+$52-,5#+(1I#$+-"-2($,(=;8$
10$Q-'&0;L$$)0I12-0$%#&'("$Q#2,5#+($>??3c$EE>TE3UA$EFb@SE3?>L
3YU$Q#2#2&$]QN$4&="$dN$."8&(($4:$#($&'L$$$:-'#+='&2$#I1;#0+#$-*$&0$10(#2&+(1-0$K#(J##0$52#0&(&'$
#0I12-0C#0(&'$#O5-,=2#,$&0;$K12("$-=(+-C#,$10$&$C='(1#("01+$5-5='&(1-0L$$)0I12-0$%#&'("$
Q#2,5#+($>??3c$EE>TGUA$Y>YSF?L
3XU$7-C#2,$[:N$:+[&228$6)N$:&'#P$]$#($&'L$$4#;=+(1-0$-*$5&2(1+='&(#$&12$5-''=(1-0$'-J#2,$("#$
21,P$-*$"#21(&K'#$C=(&(1-0,$10$C1+#L$$7+1#0+#$>??3c$F?3TGYXFUA$E??@SE?L
3@U$$6=2;#0$-*$;1,#&,#$&((21K=(&K'#$(-$,#'#+(#;$#0I12-0C#0(&'$*&+(-2,$&0;$10M=28$&C-09$+"1';2#0$
&0;$&;-'#,+#0(,$10$)=2-5#$T0-$&=("-2,$'1,(#;UL$$["1';$[&2#$%#&'("$B#I$$>??3c$F?TYUA$XFESXF>L
3bU$:-29&0$kN$[-2K#(($7N$.'-;&2+W8P$<L$$D12$5-''=(1-0$&0;$"-,51(&'$&;C1,,1-0,$10$78;0#8N$
D=,(2&'1&N$Ebb?SEbb3L$$DC$<$Q=K'1+$%#&'("$Ebb@c$@@TE>UA$EXYESY?L
G?U$d1+"1(Sd&;&P&0$RN$\,(2-$6BN$["#,(0=($Hk$#($&'L$$D12$5-''=(1-0$&0;$2#,512&(-28$,8C5(-C,A$
2#,='($*2-C$("2##$5&0#'$,(=;1#,$10$6&09P-PN$!"&1'&0;L$$)0I12-0$%#&'("$Q#2,5#+($>??Ec$E?b$
7=55FA$F@ESXL
GEU$B-+P#28$B.N$75#1W#2$])N$7(2&C$B\$#($&'L$)**#+(,$-*$10"&'&K'#$$5&2(1+'#,$-0$2#,512&(-28$"#&'("$
-*$+"1';2#0L$DC$4#I$4#,512$B1,$Eb@bc$EFbTFUA$G@XSb3L
G>U$62&=#2$:N$%-#P$k$d&0$d'1#($Q$#($&'N$D12$5-''=(1-0$*2-C$(2&**1+$&0;$("#$;#I#'-5C#0($-*$
2#,512&(-28$10*#+(1-0,$&0;$&,("C&(1+$&0;$&''#291+$,8C5(-C,$10$+"1';2#0L$$DC$<$4#,512$[21($
[&2#$>??>c$EYYT@UA$E?b>S@L
GFU$7#&(-0$DN$:&+R##$.N$B-0&';,-0$`$#($&'L$$$Q&2(1+='&(#$&12$5-''=(1-0$&0;$&+=(#$"#&'("$#**#+(,L$
H&0+#($EbbGc$F3GT@b3FUA$EXYS@L
G3U$6-#W#0$%:N$I&0$;#2$p##$7[N$Q-,(C&$B7$#($&'L$$$)**#+(,$-*$&CK1#0($&12$5-''=(1-0$-0$=55#2$&0;$
'-J#2$2#,512&(-28$,8C5(-C,$&0;$5#&P$#O512&(-28$*'-J$10$+"1';2#0L$$H&0+#($Ebbbc$FGF$TbEGYUA$
@X3S@L
GGU$k1''1'&0;$]BN$6#2"&0#$`N$4&55&5-2($)6$#($&'L$!"#$#**#+(,$-*$&CK1#0($&12$5-''=(1-0$-0$,+"--'$
&K,#0(##1,C$;=#$(-$2#,512&(-28$1''0#,,L$$)51;#C1-'-98$>??EA$E>TEUA$3FSG3L
GYU$Q#(#2,$DN$B-+P#28$B.N$%#1021+"$<N$.1+"C&00$%)L$$7"-2($(#2C$#**#+(,$-*$5&2(1+='&(#$&12$
5-''=(1-0$-0$2#,512&(-28$C-2K1;1(8$10$&,("C&(1+$+"1';2#0L$$)=2$4#,512$<$EbbXc$E?T3UA$@X>SbL
GXU$k&=;#2C&0$.<N$:+[-00#''$4N$k1''1'&0;$]$#($&'L$$D,,-+1&(1-0$K#(J##0$&12$5-''=(1-0$&0;$'=09$
*=0+(1-0$92-J("$10$7-=("#20$[&'1*-201&0$+"1';2#0L$$DC$<$4#,512$[21($[&2#$:#;$>???c$EY>$T3$
Q($EUc$EF@FSb?L
G@U$62=0#P2##*$6N$%-#P$kL$$!"#$2#'&(1-0,"15$K#(J##0$'-JS'#I#'$&12$5-''=(1-0$&0;$,"-2(S(#2C$
+"&09#,$10$'=09$*=0+(1-0$10$B=(+"$+"1';2#0L$$<$)O5-$D0&'$)0I12-0$)51;#C1-'$EbbFc$F$7=55'$EA$
EEXS>@L
GbU$k&=;#2C&0$.<N$k1''1'&0;$k]N$d-2&$%N$#($&'L$$$D,,-+1&(1-0$K#(J##0$&12$5-''=(1-0$&0;$'=09$
*=0+(1-0$92-J("$10$7-=("#20$[&'1*-201&0$+"1';2#0A$2#,='(,$*2-C$&$,#+-0;$+-"-2(L$$DC$<$4#,512$
[21($[&2#$:#;$>??>c$EYYTEUA$XYS@3L
Y?U$7&C#($<:N$B-C101+1$]N$[=221#2-$][$$#($&'L$$]10#$5&2(1+='&(#$&12$5-''=(1-0$&0;$C-2(&'1(8$10$>?$
_7$+1(1#,$Eb@XSEbb3L$$R$)09$<$:#;$>???c$F3FT>3UA$EX3>SbL
G@
YEU$7+"J&2(W$<N$H&;#0$]N$p&0-K#((1$DL$$$!"#$+-0+#0(2&(1-0S2#,5-0,#$2#'&(1-0$K#(J##0$Q:>LG$&0;$
;&1'8$;#&(",L$$$)0I12-0$%#&'("$Q#2,5#+($>??>c$EE?TE?UA$E?>GSbL
Y>U$7(-'W#'$:N$62#1(0#2$7$[828,$<$#($&'L$B&1'8$C-2(&'1(8$&0;$5&2(1+='&(#$C&((#2$10$;1**#2#0($,1W#$
+'&,,#,$10$)2*=2(N$k#2C&08L$<$)O5-$7+1$)0I12-0$)51;#C1-'L4#,#&2+"N$>??Xc$EXTGUA$3GbSYX
YFU$`#((=0#0$<N$H&0P1$!N$!11((&0#0$Q$#($&'L$D,,-+1&(1-0,$-*$*10#$&0;$='(2&*10#$5&2(1+='&(#$&12$
5-''=(1-0$J1("$,(2-P#$C-2(&'1(8$10$&0$&2#&$-*$'-J$5-''=(1-0$'#I#',L$7(2-P#N$>??Xc$F@TFUA$bE@S>>
Y3U$H1$RN$71-=(&,$[N$["-$D$#($&'L$_'(2&*10#$5&2(1+='&(#$5-''=(&0(,$10;=+#$-O1;&(1I#$,(2#,,$&0;$
C1(-+"-0;21&'$;&C&9#L)0I12-0$%#&'("$Q#2,5#+($>??FNEEEA3GGS3Y?
YGU$\K#2;-2,(#2$kN$7"&25$p$D(=;-2#1$d$#($&'L$!2&0,'-+&(1-0$-*$10"&'#;$='(2&*10#$5&2(1+'#,$(-$("#$
K2&10L/0"&'&(1-0$!-O1+-'-98N$>??3N$EYA3FXS33G
YYU$D12$g=&'1(8$k=1;#'10#,$*-2$)=2-5#N$7#+(1-0$XLF$5EbN$7#+-0;$);1(1-0N$.-2';$4#91-0&'$
Q=K'1+&(1-0,N$4#91-0&'$)=2-5#&0$7#21#,$R-$bEN$.-2';$%#&'("$\29&01,&(1-0N$4#91-0&'$\**1+#$
*-2$)=2-5#N$[-5#0"&9#0L
YXU$D00#,1S:&#,&0-$/N$]-2&,(1#2#$]N$`=0W'1$R$#($&'L$Q&2(+1+='&(#$C&((#2N$7+1#0+#$&0;$)_$Q-'1+8L$
)=2$4#,5$<$>??Xc$>bA$3>@S3FE
>47-=%0,2-H%$0<&
Y@U$Q2-+##;109,$-*$("#$!"12;$[-''-V=1=C$-0$Q&2(1+='&(#$D12$Q-''=(1-0$&0;$%=C&0$%#&'("$YS@$<=0#$
EbbbN$B=2"&CN$R-2("$[&2-'10&N$/2I10#N$[DA$D12$Q-''=(1-0$)**#+(,$H&K-2&(-28N$_01I#2,1(8$-*$
[&'1*-201&NEbbbN$EEo>FL
YbU$Q-5#$[D$F2;L$$$4#,512&(-28$;1,#&,#$&,,-+1&(#;$J1("$+-CC=01(8$&12$5-''=(1-0$&0;$&$,(##'$C1''N$
_(&"$d&''#8L$$DC$<$Q=K'1+$%#&'("N$Eb@bN$XbTGUA$Y>FS@L
X?U$[-,(&$BHN$B2#"#2$`HL$$61-&I&1'&K'#$(2&0,1(1-0$C#(&',$10$5&2(1+='&(#$C&((#2$C#;1&(#$
+&2;1-5='C-0&28$10M=28$10$"#&'("8$&0;$+-C52-C1,#;$&01C&'$C-;#',L$$)0I12-0$%#&'("$Q#2,5#+($
EbbXcE?G$T,=55'$GUA$E?GFSY?
XEU$B8#$<DN$H#"C&00$<4N$:+k##$<`$#($&'L$D+=(#$5='C-0&28$(-O1+1(8$-*$5&2(1+='&(#$C&((#2$*1'(#2$
#O(2&+(,$10$2&(,A$[-"#2#0+#$J1("$#51;#C1-'-91+$,(=;1#,$10$_(&"$d&''#8L
)0I12-0$%#&'("$Q#2,5#+($>??Ec$E?b$7=55'$FA$FbGS3?FL
X>U$%=(W109#2$\N$]1#';#2$%L$]-2C&(1-0$-*$B1-O10,$&0;$4#'&(#;$[-C5-=0;,$10$/0;=,(21&'$
Q2-+#,,#,L$Q1'-($7(=;8$-*$/0(#20&(1-0&'$/0*-2C&(1-0$)O+"&09#$-0$B1-O10,$&0;$4#'&(#;$
[-C5-0;,L$R-$EXFL$62=,,#',A$RD!\$[-CC1((##$-0$["&''#09#,$(-$:-;#20$7+1#0+#N$Ebb@
XFU$4-J&($7[L$$/0+10#2&(-2$(-O1+$#C1,,1-0,A$&$K21#*$,=CC&28$-*$"=C&0$"#&'("$#**#+(,$J1("$&$0-(#$
-0$2#9='&(-28$+-0(2-'L$$:#;$%85-("#,#,$Ebbbc$G>TGUA$F@bSbYL
X3U$[&,;-25"$4N$.&'P#2$:L$!-O1+$:#(&'$780;2-C#N$R#J$i-2PA$DI#28$Q=K'1,"109$k2-=5$EbbGL
XGU$)"C&00$.BN$:&2P#,K#28$.4N$D'&=;;10$:$#($&'L$$$62&10$(2&+#$#'#C#0(,$10$D'W"#1C#2^,$
;1,#&,#L$$R#=2-(-O1+-'-98$Eb@Yc$X$TEUA$EbGS>?YL
XYU$!"-C5,-0$[:N$:&2P#,K#28$.4N$)"C&00$.B$#($&'L$$4#91-0&'$(2&+#S#'#C#0($,(=;1#,$10$
D'W"#1C#2^,$;1,#&,#L$$R#=2-(-O1+-'-98$Eb@@c$bTEUA$ESXL
XXU$.#0,(2=5$BN$)"C&00$.BN$:&2P#,K#28$.4L$$!2&+#$#'#C#0($1CK&'&0+#,$10$1,-'&(#;$,=K+#''='&2$
*2&+(1-0,$-*$D'W"#1C#2^,$;1,#&,#$K2&10,L$$62&10$4#,$Ebb?c$GFFTEUA$E>GSFEL
X@U$7+"#(('#2$!L$$$!-O1+$("2#&(,$(-$0#=2-'-91+&'$;#I#'-5C#0($-*$+"1';2#0L$$)0I12-0$%#&'("$Q#2,5#+($
>??Ec$E?b$T7=55'$YUA$@EFSYL
XbU$k2&0;M#&0$QN$.#1"#$QN$."1(#$4]$#($&'L$[-901(1I#$;#*1+1($10$XS8#&2$-';$+"1';2#0$J1("$52#0&(&'$
#O5-,=2#$(-$C#("8'$C#2+=28L$$R#=2-(-O1+-'$!#2&(-'$EbbXc$EbTYUA$3EXS>@L
@?U$Q&'C#2$4]N$6'&0+"&2;$7N$7(#10$p$#($&'L$)0I12-0C#0(&'$C#2+=28$2#'#&,#N$,5#+1&'$#;=+&(1-0$2&(#,N$
&0;$&=(1,C$;1,-2;#2A$&0$#+-'-91+&'$,(=;8$-*$!#O&,L$%#&'("$Q'&+#N$>??YcE>T>UA$>?FSb
@EU$Q&'C#2$4]N$6'&0+"&2;$7N$.--;$4L$Q2-O1C1(8$(-$5-10($,-=2+#,$-*$#0I12-0C#0(&'$C#2+=28$
2#'#&,#$&,$&$52#;1+(-2$-*$&=(1,C$52#I&'#0+#L$%#&'("$Q'&+#N$>??@c$
;-1AE?LE?EYoML"#&'("5'&+#L>??@L?>L??E
@>U$!"=0$:<N$7+"0-22$!:N$7C1("$D6N$#($&'L$$:-2(&'1(8$&C-09$&$+-"-2($-*$_7$+&;C1=C$52-;=+(1-0$
J-2P#2,$a$&0$=5;&(#L$$<$R&('$[&0+#2$/0,($Eb@Gc$X3T>UA$F>GSFFL
@FU$6'-($.<N$]2&=C#01$<]$<02L$$D2,#01+&'$&12$5-''=(1-0$&0;$'=09$+&0+#2L$$H&0+#($EbXGc$>$
TXb>YUAE3>S3L
@3U$7#I#2,$4N$."1(#"#&;$HN$H&0#$4L$$D12$V=&'1(8$+-22#'&(#,$-*$+"2-01+$;1,#&,#$C-2(&'1(8A$%&221,$
[-=0(8N$!#O&,$EbYbSXEL$$!#O$4#5$61-'$:#;$EbX@c$FYA$EYbS@3L
Gb
@GU$.#+P#2$HN$:1''#2$76N$[-+"2&0$74$#($&'L$$!2&+#$#'#C#0($+-0+#0(2&(1-0$10$"&12$*2-C$D=(1,(1+$
["1';2#0L$$<$:#0($B#*1+$4#,$Eb@GA$>b$T5($EUA$EGS>>L
@YU$[&5#'$/BN$Q100-+P$:%N$B-22#''$%:N$#($&'L$$[-C5&21,-0$-*$+-0+#0(2&(1-0,$-*$,-C#$(2&+#N$K='PN$
&0;$(-O1+$C#(&',$10$("#$"&12$-*$0-2C&'$&0;$;8,'#O1+$+"1';2#0L$$['101+$["#C$Eb@EA$>XTYUA$
@XbS@EL
@XU$62-+P#'$6<N$[-28S7'#+"(&$BDL$$H#&;N$&((#0(1-0N$&0;$1C5=',1I#$K#"&I1-=2A$+"&09#,$10$&$*1O#;$
J&1(109S*-2S2#J&2;$5&2&;19CL$$Q"&2C&+-'$61-+"#C$6#"&I$Ebb@A$Y?T>UA$G3GSG>L
@@U$B&I1;$\<N$%-**C&0$7QN$7I#2;$<N$#($&'L$H#&;$&0;$"85#2&+(1I1(8A$6#"&I1-=2&'$2#,5-0,#$(-$
+"#'&(1-0L$$DC$<$Q,8+"$EbXYc$EFFTE?UA$EEGGS@L
@bU$:&,(#2,$4BL$61-'-98$&0;$5-'1(1+,A$'10P109$0&(=2#$J1("$0=2(=2#L$$D00$4#I$Q-'1($7+1$>??Ec$3A$
F3GSYGL
b?U$$H#I1(-0$DN$6#''109#2$BN$D''2#;$)R$#($&'L$$Q2#$&0;$5-,(0&(&'$'-JS'#I#'$'#&;$#O5-,=2#$&0;$
+"1';2#0^,$;8,*=0+(1-0$10$,+"--'L$$)0I12-0$4#,$EbbFA$Y?TEUA$F?S3FL
bEU$)55219"($!BN$7&0*&+-0$<DN$%-2J1(W$]DL$$D((#0(1-0$;#*1+1($"85#2&+(1I1(8$;1,-2;#2N$10*&0(1'#$
&=(1,C$&0;$#'#I&(#;$K'--;$'#&;A$&$5-,,1K'#$2#'&(1-0,"15L$$:-'$:#;$EbbYA$bFTFUA$EFYS@L
b>U$R##;'#C&0$%HN$k=00-#$[N$H#I1(-0$D$#($&'L$$B#*1+1(,$10$5,8+"-'-91+$&0;$+'&,,2--C$
5#2*-2C&0+#$10$+"1';2#0$J1("$#'#I&(#;$;#0(10#$'#&;$'#I#',L$$R$)09$<$:#;$Ebb3c$FFETEFUA$
Y@bSbGL
bFU$6#''109#2$BN$H#I1(-0$DN$.&(#20&=O$[N$#($&'L$$$H-091(=;10&'$&0&'8,#,$-*$52#0&(&'$&0;$5-,(0&(&'$
'#&;$#O5-,=2#$&0;$#&2'8$+-901(1I#$;#I#'-5C#0(L$$R$)09$<$:#;$Eb@Xc$FEY$TEXUA$E?FXS3FL
b3U$R##;'#C&0$%HN$41#,,$<DN$!-K10$:<N$#($&'L$$6-0#$'#&;$'#I#',$&0;$;#'10V=#0($K#"&I1-=2L$
<D:D$EbbYc$>XG$TGUc$FYFSbL
bGU$:1,5#',(2&&(A$H1I109$=0;#2$("#$,C-P#$-*$&$J&,(#$10+10#2&(-2L$4#5-2($-0$("#$"#&'("$1C5&+($-*$
("#$:/.D$J&,(#$10+10#2&(-2$10$710($R1P'&&,N$6#'91=CL$JJJLC1'1#=9#W-0;"#1;L
bYU$7+"&=,,$DkL$[-C5&2&(1I#$"&12SC10#2&'$&0&'8,1,$2#,='(,$-*$>E$#'#C#0(,$10$&$2&0;-C$,#'#+(#;$
K#"&I1-=2&''8$m0-2C&'n$EbSGb$8#&2$-';$5-5='&(1-0$&0;$I1-'#0($&;='($+21C10&'$-**#0;#2,L$$/0($<$
61-,-+$4#,$Eb@Ec$EA$>ES3EL
bXU$6-J;'#2$R[N$6#&,'#8$B7N$]21(W#$)[$#($&'L$$6#"&I1-=2&'$#**#+(,$-*$&'=C101=C$109#,(1-0$-0$
&01C&'$&0;$"=C&0$,=KM#+(,L$$Q"&2C&+-'$61-+"#C$6#"&I$EbXbA$E?T3UA$G?>SE>L
b@U$!2&55$kDN$:10#2$k%N$p1CC#2C&0$4H$#($&'L$$$D'=C101=C$'#I#',$10$("#$K2&10$10$D'W"#1C#2^,$
;1,#&,#L$$61-'$Q8,+"1&(28$EbX@c$EFTYUA$X?bSE@L
bbU$:='("&=5$kL$$DC8'-1;$52#+=2,-2$52-(#10N$+-55#2$&0;$D'W"#1C#2^,$;1,#&,#L$$61-C#;$
Q"&2C-+-("#2$EbbXA$GETFUA$E?GSEEL
E??U$p&5&(#2-$:BN$k&2+1&$;#$<&'-0$DN$Q&,+=&'$]N$#($&'L$7#2=C$&'=C101=C$'#I#',$10$D'W"#1C#2^,$
;1,#&,#$&0;$-("#2$,#01'#$;#C#0(1&,L$$61-'$!2&+#$)'#C$4#,$EbbGc$3X$TESFUA
$$$$$$$>FGS3?L
E?EU$:&2(80$[RN$$6&2P#2$B<N$\,C-0;$[$#($&'L$$k#-92&5"1+&'$2#'&(1-0,"15$K#(J##0$D'W"#1C#2^,$
;1,#&,#$&0;$&'=C101=C$10$;210P109$J&(#2L$$H&0+#($Eb@bc$ET@XYFUA$GbSY>L
E?>U$[2&55#2$B4N$`21,"0&0$77N$B&'(-0$D<$#($&'L$$62&10$&'=C101=C$;1,(21K=(1-0$10$D'W"#1C#2^,$
;1,#&,#$&0;$#O5#21C#0(&'$0#=2-*1K21''&28$;#9#0#2&(1-0L$$7+1#0+#$EbXFA$E@?T@GUA$GEESFL
E?FU$R#21$H[N$%#J1(($BL$$$D'W"#1C#2^,$;1,#&,#$&0;$;210P109$J&(#2L$H&0+#($EbbEc$FF@$T@XYFUA$Fb?L$
E?3U$p&8#;$<N$B=+1+$7N$[&C5&0#''&$kN$#($&'L$)0I12-0C#0(&'$*&+(-2,$10$("#$#(1-'-98$-*$Q&2P10,-0^,$
;1,#&,#L$$[&0$<$R#=2-'$7+1$Ebb?A$EXTFUA$>@YSbEL$
>4>-?+$1"*&-B(+6%&
E?GU$41+"(#2,$DN$41+"(#2,$dL$D$0#J$2#'&(1-0,"15$K#(J##0$&12$5-''=(&0($10"&'&(1-0$&0;$+&0+#2L$D2+"$
)0I12-0$%#&'("$Eb@Fc$F@T>UA$YbSXGL$$
E?YU$4=&,'&"(1$)L$%-J$+&0+#2$,52#&;,L$$7+1#0(1*1+$DC#21+&0$7#5($EbbYA$X>SXXL
E?XU$D0;#2,#0$%4N$751O$[N$:#;10&$7N$#($&'L$$D12$5-''=(1-0$&0;$;&1'8$&;C1,,1-0,$*-2$+"2-01+$
-K,(2=+(1I#$5='C-0&28$;1,#&,#$10$Y$)=2-5#&0$+1(1#,A$2#,='(,$*2-C$("#$DQ%)D$52-M#+(L$$)=2$
4#,5$<$EbbXc$E?TGUA$E?Y3SXEL
E?@U$7=08#2$<N$751O$[N$g=#0#'$QN$#($&'L$$_2K&0$&12$5-''=(1-0$&0;$#C#29#0+8$&;C1,,1-0,$*-2$&,("C&$
10$*-=2$)=2-5#&0$+1(1#,A$("#$DQ%)D$Q2-M#+(L$!"-2&O$EbbXc$G>TbUA$XY?SGL
E?bU$$\,(2-$6BN$62-&;J10$4N$H15,#(($:<L$$[-&2,#$&0;$*10#$5&2(1+'#,$&0;$;&1'8$C-2(&'1(8$10$("#$
[-&+"#''&$d&''#8N$[&'1*-201&A$&$*-''-JS=5$,(=;8L$<$)O5$D0&'$)0I12-0$)51;#C1-'$>???c$E?TGUA$
3E>SbL
Y?
EE?U$62#,'10$`L$$!"#$1C5&+($-*$-W-0#L$$)0I$%#&'("$Q#2,5#+(1I#,$EbbGc$E?FTXS@UA$YY?S3L
EEEU$%-#P$kN$7+"J&2(W$<BN$k2--($6N$)1'#2,$QL$$)**#+(,$-*$&CK1#0($5&2(1+='&(#$C&((#2$&0;$-W-0#$-0$
;&1'8$C-2(&'1(8$10$4-((#2;&CN$!"#$R#("#2'&0;,L$D2+"$)0I12-0$%#&'("$EbbXc$G>TYUA$3GGSYFL
>4A-B1@0#+)-O"(+)0#$&
EE>U$B#0$%-0;$)N$4-#',$%DN$%-55#0K2-=J#2,$`$#($&'L$$7#O=&'$C&(=2&(1-0$10$2#'&(1-0,"15$(-$
5-'8+"'-210&(#;$&2-C&(1+$"8;2-+&2K-0,A$7"&5#$&0;$7P&PP#K&#P^,$"85-("#,1,$2#I1,1(#;L$
)0I12-0$%#&'("$Q#2,5#+($>??>c$EE?T@UA$XXESYL
EEFU$),P#0&W1$6N$:-+&2#''1$QN$.&20#2$:$#($&'L$$7#2=C$;1-O10$+-0+#0(2&(1-0,$&0;$#0;-C#(21-,1,A$&$
+-"-2($,(=;8$10$7#I#0,-N$/(&'8L$$)0I12-0$%#&'("$Q#2,5#+($>??>c$EE?TXUA$Y>bSF3L
EE3U$.-'**$:7N$.#,(-0$DL$$62#&,($+&0+#2$21,P$&0;$#0I12-0C#0(&'$#O5-,=2#,L$$)0I12-0$%#&'("$
Q#2,5#+($EbbXc$E?GT7=55'$3UA$@bESYL
EEGU$%-8#2$DQN$k2&0M#&0$QN$<-29#0,#0$!$#($&'L$$\29&0-+"'-210#$#O5-,=2#$&0;$("#$21,P$-*$K2#&,($
+&0+#2L$$H&0+#($Ebb@c$FG>$TbE3FUA$E@EYS>?L
EEYU$\'1I&$DN$7512&$DN$:='(190#2$H$#($&'L$[-0(21K=(1-0$-*$#0I12-0C#0(&'$*&+(-2,$(-$("#$21,P$-*$C&'#$
10*#2(1'1(8L$%=C$4#52-;$>??Ec$EYT@UA$EXY@SXYL
EEXU$7='(&0$[N$6&'&9=#2$QN$!#2-=&00#$6$#($&'L$)0I12-0C#0(&'$O#0-#,(-9#0,N$&0(1&0;2-9#0,$&0;$
;1,-2;#2,$-*$C&'#$,#O=&'$;1**#2#0(1&(1-0L$$:-'$[#''$)0;-+210-'$>??Ec$EX@$TES>UA$bbSE?GL
EE@U$%&2;#''$HN$I&0$6&I#'$6N$H10;,(2-C$k$#($&'L$$/0+2#&,#;$+-0+#0(2&(1-0,$-*$5-'8+"'-210&(#;$
K15"#08',N$"#O&+"'-2-K#0W#0#$&0;$+"'-2;&0#,$10$C-("#2,$-*$C#0$J1("$(#,(1+='&2$+&0+#2L$
)0I12-0$%#&'("$Q#2,5#+($>??Fc$EEE$TXUA$bF?S3L
0X-B1@0#")9<"1+#%&
EEbU$<&8$`N$7(1#9'1(W$HL$/;#0(1*1+&(1-0$&0;$V=&0(1*1+&(1-0$-*$I-'&(1'#$-29&01+$+-C5-0#0(,$10$
#C1,,1-0,$-*$J&,(#$10+10#2&(1-0$5'&0(,L$$["#C-,5"#2#$EbbGc$F?A$E>3bSE>Y?
E>?U$)+-+8'#$[-CC1,,1-0$-*$("#$k-I#20C#0($-*$7J#;#0L$Qd[A$D$Q'&0$(-$Q2#I#0($)0I12-0C#0(&'$
/C5&+(L$7(-+P"-'CA$)+-+8+'#$[-CC1,,1-0$Ebb3
E>EU$DC#21+&0$Q=K'1+$%#&'("$D,,-+1&(1-0L$4#,-'=(1-0$bF?3A$4#+-901W109$&0;$&;;2#,,109$("#$
#0I12-0C#0(&'$&0;$-++=5&(1-0&'$"#&'("$52-K'#C,$5-,#;$K8$+"'-210&(#;$-29&01+$+"#C1+&',L$DC$
<$Q=K'1+$%#&'("$Ebb3c$@3AGE3SG
E>>U$!"-20(-0$<N$Q&0;-2&^,$Q-1,-0N$$>???N$:/!$Q2#,,N$[&CK21;9#N$:&,,&+"=,#((,$w$H-0;-0
E>FU$_7$)012-0C#0(&'$Q2-(#+(1-0$D9#0+8L$),(1C&(109$#O5-,=2#$(-$>NFNXN@$![BBL$R&'$4#I1#J$
B2&*(L$.&,"109(-0$B[A$_7$)QDN$\**1+#$-*$4#,#&2+"$&0;$B#I#'-5C#0($
T)QDoY??SYSbbS??XDUN$Eb@@
E>3U$!&(,=P&J&$4N$!&0&K#$7L$]&(#$&0;$K1-&++=C='&(1-0$-*$5#2,1,(#0($-29&0-+"'-210#$+-C5-=0;,$
10$("#$C&210#$#0I12-0C#0(L$/0A$6&=C9&2(0#2$B<N$B=;&''$/:N$#;,L$\+#&01+$Q2-+#,,#,$10$:&210#$
Q-''=(1-0N$d-'=C#$YN$:&'&K&2$]HA$`2#19#2N$Ebb?AFbSGG
E>GU$]2&0P$%N$R-2-P-251$i$7+"-''%$#($&'L$!21+"'-2-&+#(&(#$'#I#',$10$("#$&(C-,5"#2#$&0;$10$+-01*#2$
0##;'#,$10$[#0(2&'$&0;$R-2("#20$)=2-5#L$\29&0-"&'-9#0$[-C5-=0;,$EbbFNE3AF?XS@
E>YU$R-2,(-C$4N$:=12$B[kL$["'-210&(#;$"8;2-+&2K-0$+-0(&C10&0(,$10$&2+(1+$$C&210#$C&CC&',L$
7+1#0+#$-*$("#$$!-(&'$)0I12-0C#0(N$Ebb3c$EG3AE?XSE>@
E>XU$D2+(1+$:-01(-2109$&0;$D,,#,,C#0($Q2-92&CC#L$D2+(1+$Q-''=(1-0$/,,=#,A$D$,(&(#$-*$("#$D2+(1+$
)0I12-0C#0($4#5-2(L$\,'-AD:DQ$B12#+(-2&(#N$EbbX
:X-J+"(+#&
E>@U$62W=W8HQN$%1(#,$4DL$k'-K&'$C&,,$K&'&0+#$-*$5-'8+"'-210&(#;$;1K#0W-S5S;1-O10,$&0;$
;1K#0W-*=2&0,L$)0I12-0C#0(&'$7+1#0+#$&0;$!#+"0-'-98N$EbbYN$F?AEXbXSE@?3
E>bU$_7$)0I12-0C#0(&'$Q2-(#+(1-0$D9#0+8L$!"#$/0I#0(-28$-*$,-=2+#,$-*$;1-O10$10$("#$_01(#;$
7(&(#,$T4#I1#J$B2&*(UL$.&,"109(-0$B[A$_7$)QD$\**1+#$-*$4#,#&2+"$&0;$B#I#'-5C#0($T)QDo
Y??o5Sb@S??>&UN$Ebb@
EF?U$!"-C&,$dN$7"&512-$[L$D0$#,(1C&(1-0$-*$;1-O10$#C1,,1-0,$10$("#$_01(#;$7(&(#,L$!-O1+-'-98$
&0;$)0I12-0C#0(&'$["#C1,(2(8N$EbbGc$G?AESFX
EFEU$B&I1,$BHN$B10,#$k)N$%-#'$BkL$B#+2#&,109$+&2;1-I&,+='&2$;1,#&,#$&0;$10+2#&,109$+&0+#2$
&C-09$J"1(#,$10$("#$_01(#;$7(&(#,$*2-C$EbXF$("2-=9"$Eb@XL$<D:DN$Ebb3c$>XEA3FES3FX
EF>U$!21(,+"#2$D:N$['&2P$k7N$H=+1#2$k.L$B-,#S2#,5-0,#$#**#+(,$-*$;1-O10,A75#+1#,$+-C5&21,-0$
&0;$1C5'1+&(1-0,$*-2$21,P$&,,#,,C#0(L$/0A$7+"#+(#2$DN$B1-O10,$&0;$%#&'("L$R#J$i-2PA5'#0=CN$
Ebb3A>>XS>3@EF?U
YE
EFFU$$R#=K#2($4N$<&+-KS:=''#2$_N$%#'9#$%$#($&'L$Q-'8"&'-9#0&(#;$;1K#0W-S5S;1-O10,$&0;$
;1K#0W-*=2&0,$&0;$("#$1CC=0#$,8,(#CA$/0$I1(2-$#**#+(,$-*$>NFNXN@$(#(2&+"'-2-;1K#0W-S5S;1-O10$
T![BBU$-0$'8C5"-+8(#,$-*$I#0-=,$K'--;$*2-C$&$C&0$&0;$&$0-0S"=C&0$521C&(#L$D2+"1I#,$-*$
!-O1+-'-98$EbbEcYGA>EFSb
EF3U$_7$)0I12-0C#0(&'$Q2-(#+(1-0$D9#0+8L$%#&'("$D,,#,,C#0($B-+=C#0($*-2$>NFNXN@$a
(#(2&+"'-2-;1K#0W-S5S;1-O10$&0;$4#'&(#;$[-C5-=0;,N$d-'=C#,$ESFN$4#I1#J$B2&*(L$
.&,"109(-0$B[A_7$)QD$\**1+#$-*$4#,#&2+"$&0;$B#I#'-5C#0($T)QDoY??o6QSb>S??EUNEbb3
EFGU$6#+"#2$%N$7(#10;-2*$`N$]'#,+"S<&08,$BL$g=&0(1(&(1I#$+&0+#2$21,P$&,,#,,C#0($-*$;1-O10,$=,109$
&0$-++=5&(1-0&'$+-"-2(L$)0I$%#&'("$Q#2,5#+($Ebb@c$E?YT7=55'$>UA$YYFSYX?
EFYU$Q&5P#$\L$Q[BBo]A%=C&0$K&+P92-=0;$;&(&$*2-C$k#2C&08N$&$E?$8#&2$#O5#21#0+#L$)0I$%#&'("$
Q#2,5#+(N$Ebb@c$E?Y$T7=55'$>UA$X>FSFE
EFXU$7+"#+(#2$DN$7(&2(10$<N$.219"($[$#($&'L$[-09#0#2S,5#+1*1+$'#I#',$-*$;1-O10,$&0;$;1K#0W-*=2&0,$
10$_7$*--;$&0;$#,(1C&(#;$;&1'8$;1-O10$(-O1+$#V=1I&'#0($10(&P#L$)0I$%#&'("$Q#2,5#+($Ebb3c$
E?>A$bY>SbYY
EF@U$7+"#+(#2$DN$k&,1#J1+W$!L$%#&'("$"&W&2;$&,,#,,C#0($-*$+"'-210&(#;$;1-O10,$&0;$;1K#0W-*=2&0,$
+-0(&10#;$10$"=C&0$C1'PL$["#C-,5"#2#$Eb@Xc$EYA>E3XSG3
EFbU$k2&8$H)N$\,(K8$<7N$`#'+#$.4L$D$;-,#S2#,5-0,#$&0&'8,1,$-*$("#$2#52-;=+(1I#$#**#+(,$-*$&$
,109'#$9#,(&(1-0&'$;-,#$-*$>NFNXN@$(#(2&+"'-2-;1K#0W-S5S;1-O10$10$C&'#$H-09$)I#0,$"--;#;$2&($
-**,52109L$!-O1+-'-98$&0;$D55'1#;$5"&2C&+-'-98N$EbbXc$E3YA$EES>?
E3?U$!"#-K&';$%:N$Q#(#2,-0$4)L$B#I#'-5C#0(&'$&0;$2#52-;=+(1I#$(-O1+1(8$-*$;1-O10,$&0;$-("#2$
D"$2#+#5(-2$&9-01,(,L$/0A$7+"#+(#2$DN$#;L$B1-O10,$&0;$%#&'("L$R#J$i-2PA$Q'#0=CL$
Ebb3AF?bS3Y
E3EU$7##9&'$4]N$7+"&0(W$7HL$R#=2-+"#C1+&'$&0;$K#"&I1-=2&'$,#V=#'&#$-*$#O5-,=2#$(-$;-O10,$&0;$
Q[6,L$/0A$7+"#+(#2$DN$#;L$B1-O10,$&0;$%#&'("L$R#J$i-2PA$Q'#0=CL$Ebb3A3?bS33@
E3>U$g=&,,$_N$]#2C&00$:N$62-P#2$kN$)=2-5#&0$B1-O10$/0I#0(&28$d-'=C#$FN$D,,#,,C#0($-*$
;1-O10$#C1,,1-0,$=0(1'$>??GNL$Q2#5&2#;$K8$R-2("$4"10#$.#,(5"&'1&C$7(&(#$)0I12-0C#0(&'$
D9#0+8$-0$K#"&'*$-*$("#$)=2-5#&0$[-CC1,,1-0N$B12#+(-2&(#$k#0#2&'$*-2$)0I12-0C#0($TBk$
)RdU
>4E-'88%)$&-"#-@%#%$+)-H0$%1+0<
E3FU$!-C&(1,$HL$!2&0,5'&+#0(&'$[&2+10-9#0#,1,L$$H8-0N$/0(#20&(1-0&'$D9#0+8$*-2$4#,#&2+"$-0$
[&0+#2N$/D4[$7+1#0(1*1+$Q=K'1+&(1-0,$R-$3$55E??SEEEL
$E33U$$!-C&(1,$HN$k--;&''$[:L$$!"#$-++=22#0+#$-*$(=C-=2,$10$]EN$]>$&0;$]F$;#,+#0;&0(,$-*$
52#90&0($C1+#$10M#+(#;$J1("$XNE>$;1C#("8'K#0WT&U&0("2&+#0#L$$/0($<$[&0+#2$EbYbc$3T>UA$
>EbS>GL$
>4F-'88%)$&-"#-5//*#%-.2&$%/
E3GU$$4-,,$QN$;#$7J&2(N$d1,,#2$/N$#($&'L$$4#'&(1I#$1CC=0-+-C5#(#0+#$-*$("#$0#JK-20$"&2K-2$,#&'N$
Q"-+&$I1(='10&L$$d#(#210&28$/CC=0-'-98$&0;$/CC=0-5&("-'-98$Ebb3c$3>TFS3UA$FFES3@L
E3YU$4-,,$QN$;#$7J&2($4N$4#1M0;#2,$QN$#($&'L$$$[-0(&C10&0(S2#'&(#;$,=552#,,1-0$-*$;#'&8#;S(85#$
"85#2,#0,1(1I1(8$&0;$&0(1K-;8$2#,5-0,#,$10$"&2K-2$,#&',$*#;$"#22109$*2-C$("#$6&'(1+$7#&L$$)0I$
%#&'("$Q#2,5#+($EbbGc$E?F$T>UA$EY>SXL
E3XU$B#$7J&2($4L$$/C5&12#;$1CC=01(8$10$,#&',$#O5-,#;$(-$K1-&++=C='&(#;$#0I12-0C#0(&'$
+-0(&C10&0(,N$Q"B$!"#,1,N$)2&,C=,$_01I#2,1(8N$4-((#2;&CN$R#("#2'&0;,N$EbbGL
E3@U$H&"I1,$kN$.#'',$47N$`=#"'$B.$#($&'L$$B#+2#&,#;$'8C5"-+8(#$2#,5-0,#$10$*2##S2&09109$
K-(('#S0-,#;$;-'5"10,$T!=2,1-5,$(2=0+&(=,U$&2#$&,,-+1&(#;$J1("$10+2#&,#;$+-0+#0(2&(1-0$-*$
Q[6,$&0;$BB!$10$5#215"#2&'$K'--;L$$)0I$%#&'("$Q#2,5#+($EbbGc$E?FT3UA$YXSX>L
E3bU$[-0#$<)N%&221,-0$4N$4#1(#2$4L$Q&(1#0(,$J1("$C='(15'#$+"#C1+&'$,#0,1(1I1(1#,A$+'101+&'$
;1&90-,(1+$,=K,#(,$&C-09$&0$-++=5&(1-0&'$"#&'("$+'101+$5-5='&(1-0L$I5$[=''#0$:$T#;U$.-2P#2,$
J1("$:='(15'#$["#C1+&'$7#0,1(1I1(1#,N$\++=5&(1-0&'$:#;1+10#A$7(&(#$-*$("#$D2($4#I1#J$Eb@Xc$
>T3UAX>ESXF@$L
EG?U$$7"&2C&$4L$$/CC=0-'-91+&'$[-0,1;#2&(1-0,$10$!-O1+-'-98N$d-',$E$&0;$>$TEb@EUN$[4[$Q2#,,N$
6-+&$4&(-0N$]HL
EGEU$$D,"*-2;$RN$:1''#2$[L$["#C1+&'$)O5-,=2#,A$H-J$H#I#',$&0;$%19"$7(&P#,L$<-"0$.1'#8$w$
7-0,$Ebb@L
Y>
EG>U$:&,,-'-$HN$:=''#2$DN$!=#2-,$:N$#($&'L$D,,#,,C#0($-*$C=(&9#01+1(8$&0;$(-O1+1(8$-*$;1**#2#0(S
,1W#$*2&+(1-0,$-*$&12$5&2(1+'#,$*2-C$H&$Q'&(&N$D29#0(10&N$&0;$H#15W19N$k#2C&08L$$)0I12-0$
!-O1+-'$>??>c$EXTFUA$>EbSFEL
EGFU$`#2PI'1#($R/L$/CC=0-(-O1+1(8$-*$;1-O10,$&0;$2#'&(#;$+"#C1+&',L$/0A$7+"#+(#2$DN$#;L$B1-O10,$
&0;$%#&'("L$R#J$i-2PA$Q'#0=CEbb3AEbbS>EX
EG3U$!285"-0&,$%L$/CC=0-(-O1+1(8$-*$Q[6,$TD2-+'-2,U$10$2#'&(1-0$(-$k2#&($H&P#,L$)0I12-0$%#&'("$
Q#2,5#+(N$EbbGc$E?F$T7=55'$bUAFGS3Y
EGGU$%1''&C$4QN$61+#$B)N$%&"0$]]N$7+01W#'#10$[!L$)**#+(,$-*$&+=(#$01(2-9#0$;1-O1;#$#O5-,=2#$-0$
+#''='&2$1CC=01(8$&*(#2$'=09$1CC=01W&(1-0L$$)0I12-0$4#,$Eb@Fc$FETEUA$>?ESEEL
>4G-.2#%1@+&$+)-'88%)$&
EGYU$[&22-''$.1',-0L$$:&0^,$k'-K&'$/C5&+($-0$("#$)0I12-0C#0(A$D$7(=;8$-*$[21(1+&'$
)0I12-0C#0(&'$Q2-K'#C,N$:/!$Q2#,,N$[&CK21;9#N$:&,,$EbXEL$
EGXU$:-P"1K#2$4L$!"#$)+-'-91,($Ebb@c$$>@T>UA$GXS@L
EG@U$%&221,-0$Q!N$%#&("$<[L$D55&2#0($,80#298$10$'=09$+&2+10-9#0#,1,A$10(#2&+(1-0,$K#(J##0$RS
01(2-,"#5(&C#("8'#0#1C10#N$5&2(1+='&(#$+&;C1=C$&0;$+2-+1;-'1(#$&,K#,(-,$*1K2#,$10$2&(,L$
[&2+10-9#0#,1,$Eb@Yc$XTEEUA$Eb?FS@L
EGbU$.&;#$:kN$]-,(#2$.kN$i-=09'&1$)dN$#($&'L$$)**#+(,$-*$,=K+"2-01+$#O5-,=2#$(-$&$+-C5'#O$
C1O(=2#$-*$5#2,1,(#0($+-0(&C10&0(,$10$C&'#$2&(,A$,8,(#C1+N$1CC=0#$&0;$2#52-;=+(1I#$#**#+(,L$
!-O1+-'$7+1$>??>c$YXTEUA$EFES3FL
EY?U$7-(-$D:N$["=09$`HN$7-00#0,+"#10$[L$$!"#$5#,(1+1;#,$#0;-,='5"&0N$(-O&5"#0#$&0;$;1#';210$
"&I#$#,(2-9#01+$#**#+(,$-0$"=C&0$#,(2-9#0S,#0,1(1I#$+#'',L$)0I12-0$%#&'("$Q#2,5#+($Ebb3c$
E?>T3UA$F@?SFL
EYEU$DK-=SB-01&$:6N$.1'C&2("$`4N$<#0,#0$`]$#($&'L$R#=2-(-O1+1(8$2#,='(109$*2-C$+-S#O5-,=2#$
(-$5821;-,(19C10#$K2-C1;#N$B))!$&0;$5#2C#("210A$/C5'1+&(1-0,$-*$k='*$.&2$+"#C1+&'$
#O5-,=2#,L$$<$!-O1+-'$)0I$%#&'("$EbbYc$3@TEUA$FGSGYL
EY>U$)2,"-**$6%L$$780#291,(1+$(-O1+1(8$-*$*--;$&;;1(1I#,$10$2&(,$*#;$&$;1#($'-J$10$;1#(&28$*1K2#L$$<$
]--;$7+1$EbXYc$3EA$b3bSGEL
EYFU$.&;#$:kN$Q&2#0($7N$]100,-0$`.N$#($&'L$$!"82-1;$!-O1+1(8$;=#$(-$&$,=K+"2-01+$#O5-,=2#$(-$&$
+-C5'#O$C1O(=2#$-*$EY$-29&0-+"'-210#,N$'#&;N$&0;$+&;C1=CL$!-O1+-'$7+1$>??>c$YXT>UA$>?XSE@L
EY3U$D20-';$7]N$`'-(W$B:N$[-''10,$6:N$#($&'L$780#291,(1+$&+(1I&(1-0$-*$#,(2-9#0$2#+#5(-2,$J1("$
+-CK10&(1-0,$-*$#0I12-0C#0(&'$+"#C1+&',L$$7+1#0+#$EbbYc$>X>$TG>YXUA$E3@bSb>L
EYGU$k#2C-'#+$B4N$i&09$47%N$D+P#2C&00$:Q$#($&'L$!-O1+-'-98$,(=;1#,$-*$&$+"#C1+&'$C1O(=2#$-*$
>G$92-=0;J&(#2$+-0(&C10&0(,A$/CC=0-,=552#,,1-0$10$6Y[F]$C1+#L$]=0;&C#0(&'$&0;$
D55'1#;$!-O1+-'-98$EbbEcEFA$FXXSF@X
EYYU$H1$:%N$%&0,#0$HkL$)0W8C#$10;=+(1-0$&0;$&+=(#$#0;-+210#$#**#+(,$10$52#5=K#2(&'$*#C&'#$2&(,$
2#+#1I109$#0I12-0C#0(&'$Q[6oQ[B]oQ[BB$C1O(=2#,L$$)0I12-0$$%#&'("$Q#2,5#+($EbbYc$
E?3TXUA$XE>S>>L
.%)$+"#-A4-5#)1%0&%6-H"1:+6+$2-0#6-H"1$0<+$2-#%01-5#)+#%10$"1&
A43-!0#)%1
EYXU $ )''1-( $ QN $ 7"&;;1+P$ kN $ `'#10,+"C1;( $ / $ #(&'N $ [&0+#2 $ 10+1;#0+# $ 0#&2 $ C=01+15&' $ ,-'1; $ J&,(#$
10+10#2&(-2,$10$k2#&($621(&10L$621($<$[&0+#2$EbbYc$XFTGUA$X?>SE?L
EY@U$)''1-($QN$)&(-0$RN$7"&;;1+P$k$#($&'L$$$[&0+#2$10+1;#0+#$0#&2$C=01+15&'$J&,(#$10+10#2&(-2,$10$
k2#&($621(&10L$Q&2($>A$%1,(-5&("-'-91+&'$&0;$+&,#$0-(#$2#I1#J$-*$521C&28$'1I#2$+&0+#2$+&,#,L$
621(1,"$<$[&0+#2$>???c$@>TGUA$EE?FSYL
EYbU $ `0-O $ )kN $ k1'C&0 $ )DL $ $ :192&(1-0 $ 5&((#20, $ -* $ +"1';2#0 $ J1(" $ +&0+#2 $ 10 $ 621(&10L $ $ <$
)51;#C1-'-98$w$[-CC=01(8$%#&'("$Ebb@c$G>TEEUA$XEYS>YL
EX?U $ `0-O $ )kL $ $ $ ["1';"--; $ +&0+#2,N $ K12("5'&+#,N $ 10+10#2&(-2, $ &0; $ '&0;*1'' $ ,1(#,L $ $ /0( $ <$
)51;#C1-'-98$>???c$>b$TFUA$FbESXL
EXEUA$ $6199#21$DN$6&2K-0#$]N$H&9&W1-$[N$#($&'L$ $ $D12$5-''=(1-0$&0;$'=09$+&0+#2$10$!21#,(#N$/(&'8A$
75&(1&'$&0&'8,1,$-*$21,P$&,$&$*=0+(1-0$-*$;1,(&0+#$*2-C$,-=2+#,L$$)0I12-0$%#&'("$Q#2,5#+($EbbYc$
E?3$TXUA$XG?S3L
YF
EX>U$d1#'$<]N$D2I#=O$QN$6&I#2#'$<N$#($&'L$ $ $7-*($(1,,=#$,&2+-C&$&0;$0-0$%-;9P10^,$'8C5"-C&$
+'=,(#2,$&2-=0;$C=01+15&'$,-'1;$J&,(#$10+10#2&(-2,$J1("$"19"$;1-O10$#C1,,1-0$'#I#',L$ $DC$<$
)51;#C1-'-98$>???c$EG>TEUA$EFSEbL
EXFU$\"(&$7N$`=218&C&$7N$R&P&-$#($&'L$$H#I#',$-*$Q[BB,N$Q[B],$&0;$0-0S-2("-$+-5'&0&2$Q[6,$10$
,-1' $ +-''#+(#; $ *2-C $ "19" $ +&0+#2S+&=,109 $ &2#& $ +'-,# $ (- $ K&(+"S(85# $ C=01+15&' $ ,-'1; $ J&,(#$
10+10#2&(-2$10$<&5&0L$$\29&0-"&'-9#0$[-C5-=0;,$EbbXc$F>A$EGGSY?L
EX3U $ [-CK& $ QN $ D,+-'' $ dN $ 6#''1 $ 7 $ #( $ &' $ 41,P $ -* $ ,-*( $ (1,,=# $ ,&2+-C&, $ &0; $ 2#,1;#0+# $ 10 $ ("#$
0#19"K-=2"--;$-*$&0$10+10#2&(-2$-*$10;=,(21&'$J&,(#,L$\++=5$)0I12-0$:#;$>??Fc$Y?TbUA$Y@?SF
EXGU$p&CK-0$QN$41++1$QN$6-I-$)$#($&'L$7&2+-C&$21,P$&0;$;1-O10$#C1,,1-0,$*2-C$10+10#2&(-2,$&0;$
10;=,(21&'$5'&0(,A$&$5-5='&(1-0SK&,#;$+&,#S+-0(2-'$,(=;8$T/(&'8UL$)0I12-0$%#&'("$>??Xc$YA
EXYU$k=,(&I,,-0$QL$$$:-2(&'1(8$&C-09$J-2P#2,$&($&$C=01+15&'$J&,(#$10+10#2&(-2L$DC$<$/0;$:#;$
Eb@bc$EGTFUA$>3GSGFL
EXXU$k=,(&I,,-0$QN$)I&0-**$6N$%-9,(#;($[L$$$/0+2#&,#;$21,P$-*$#,-5"&9#&'$+&0+#2$&C-09$J-2P#2,$
#O5-,#;$(-$+-CK=,(1-0$52-;=+(,L$$D2+"1I#,$)0I12-0$:#;$EbbFc$3@T3UA$>3FSGL$$
A47-I+1$9-J%8%)$&
EX@U$(#0$!=,,+"#2$k.N$7(&C$kDN$`-55#$<kL$$\5#0$+"#C1+&'$+-CK=,(109$2#,='(109$10$&$'-+&'1,#;$
10+2#&,#;$10+1;#0+#$-*$-2-*&+1&'$+'#*(,L$$["#C-,5"#2#$>???c$3?TbSEEUA$E>YFSX?L
EXbU$d&0$H-2#K#P#$RL$%#&'("$#**#+(,$-*$&$"-=,#"-';$J&,(#$10+10#2&(-2$0#&2$.1'21MPN$6#'91=CL$I5&
%#&'("$/C5&+(,$-*$.&,(#$:&0&9#C#0($Q-'1+1#,N$%155-+2&(#,$]-=0;&(1-0N$`-,N$k2##+#N$>???L
E@?U$[-2;1#2$7N$["#I21#2$[N$4-K#2(Sk0&0,1&$)$#($&'L$$41,P$-*$+-09#01(&'$&0-C&'1#,$10$("#$I1+101(8$
-*$C=01+15&'$,-'1;$J&,(#$10+10#2&(-2,L$$\++=5$)0I12-0$:#;$>??3A$YETEUA$@SEGL
E@EU$B=CC#2$!<N$B1+P10,-0$%\N$Q&2P#2$HL$D;I#2,#$52#90&0+8$-=(+-C#,$&2-=0;$10+10#2&(-2,$&0;$
+2#C&(-21=C,$10$[=CK21&N$R-2("SJ#,($)09'&0;N$EbGYSbFL$ $ $<$)51;#C1-'$[-CC=01(8$%#&'("$
>??FA$GXTYUA$3GYSYEL
E@>U$B-'P$%N$d21M"#';$:N$D2C,(2-09$6$#($&'L$$41,P$-*$+-09#01(&'$&0-C&'1#,$0#&2$"&W&2;-=,SJ&,(#$
'&0;*1''$,1(#,$10$)=2-5#A$("#$)_4\%Dp[\R$,(=;8L$$H&0+#(N$Ebb@c$FG>TbE>YUA$3>FSXL
E@FU)''1-($QN$62199,$BN$:-221,$7$#($&'L$$41,P$-*$&;I#2,#$K12("$-=(+-C#,$10$5-5='&(1-0,$'1I109$0#&2$
'&0;*1''$,1(#,L$$6:<N$>??Ec$F>FTXF?bUA$FYFS@L
E@3U$[2-#0$HDN$7"&J$k:N$7&0K-0C&(,=$H$#($&'L$ $:&(#20&'$2#,1;#0(1&'$52-O1C1(8$(-$"&W&2;-=,$
J&,(#$,1(#,$&0;$21,P$*-2$,#'#+(#;$+-09#01(&'$C&'*-2C&(1-0,L$$)51;#C1-'-98$EbbXc$@T3UA$F3XSG3L
E@GU$\22$:N$6-I#$]N$`&8#$.$#($&'L$$)'#I&(#;$K12("$;#*#+(,$10$2&+1&'$-2$#("01+$C10-21(8$+"1';2#0$-*$
J-C#0$'1I109$0#&2$"&W&2;-=,$J&,(#$,1(#,L$$/0($<$%89$)0I12-0$%#&'("N$>??>c$>?GTES>UA$EbS>XL
E@YU$<-"0,-0$6HL$D$2#I1#J$-*$("#$#**#+(,$-*$("#$#**#+(,$-*$"&W&2;-=,$J&,(#$-0$2#52-;=+(1I#$"#&'("L$
DC$<$-*$\K,(#(21+,$&0;$k80#+-'-98$Ebbbc$E@EA$7E>S7EYL
.%)$+"#-E4-J+&%0&%-5#)+6%#)%-0#6-;"<<*$+"#
E43-!0#)%1
E@XU$$R[/N$EbbEA$m[&0+#2$7(&(1,(1+,$4#I1#J$EbXFS@@nN$R/%$Q=K'1+&(1-0,$R-$bES>X@bL
E@@U$$!-C&(1,$HN$[&0+#2N$[&=,#,N$\++=22#0+#$&0;$[-0(2-'N$/D4[$7+1#0(1*1+$5=K'1+&(1-0,$E??N$
TH8-0N$]2&0+#N$/D4[$EbbYU$>EL
E@bU$k2&5",$-*$+"#C1+&'$52-;=+(1-0A$]2-C$/0(#20&(1-0&'$!2&;#$[-CC1,,1-0N$.&,"109(-0$B[L$
Eb?U$B&I1#,$BHN$%-#'$BN$]-OMN$H-5#W$DL$/0(#20&(1-0&'$(2#0;,$10$+&0+#2$C-2(&'1(8$10$]2&0+#N$.#,($
k#2C&08N$/(&'8N$<&5&0N$)09'&0;$&0;$.&'#,$&0;$("#$_7DL$$H&0+#($Ebb?c$FFY$T@XEFUA$3X3S@EL
EbEU$Q1+P'#$H.N$:&,-0$!<N$]2&=C#01$<]$<2L$!"#$0#J$_01(#;$7(&(#,$[&0+#2$D('&,L$4#+#0($4#,='(,$
[&0+#2$4#,N$Eb@bc$EE3A$EbYS>?XL
Eb>U$R&M#C$k4N$H-=21&$B6N$H&I#0"&2$:D$#($&'L$$['=,(#2,$-*$+&0+#2$C-2(&'1(8$10$R#J$<#2,#8$
C=01+15&'1(1#,N$J1("$,5#+1&'$2#*#2#0+#$(-$+"#C1+&'$(-O1+$J&,(#$;1,5-,&'$,1(#,$&0;$;.2&96;306&
10+-C#L$/0($<$)51;#C1-'$Eb@Gc$E3T3UA$G>@SFXL
EbFU$R&M#C$k4N$k2##2$.L$$$$]#C&'#$2#52-;=+(1I#$-29&0,$&0;$K2#&,($+&0+#2$C-2(&'1(8$10$R#J$
<#2,#8$[-=0(1#,$&0;$("#$2#'&(1-0,"15$J1("$+#2(&10$#0I12-0C#0(&'$I&21&K'#,L$$Q2#I$:#;$Eb@GA$
E3TGUA$Y>?SFGL
Eb3U$%--I#2$4N$]2&=C#01$<]$<2L$$[&0+#2$C-2(&'1(8$10$_7$+-=0(1#,$J1("$+"#C1+&'$10;=,(21#,L$
)0I12-0$4#,$EbXGc$bT>UA$EbYS>?XL
Y3
EbGU$k-';C&0$6DL$!"#$!2=("$DK-=($."#2#$i-=$H1I#A$D0$D('&,$*-2$D+(1-0$-0$!-O10,$&0;$
:-2(&'1(8L$R#J$i-2PA$4&0;-C$%-=,#$EbbEL
EbYU$p&"C$7%N$6'&12$DL$$$[&0+#2$&C-09$C192&0($&0;$,#&,-0&'$*&2C#2,A$&0$#51;#C1-'-91+$2#I1#J$
&0;$2#,#&2+"$&9#0;&L$DC$<$-*$/0;$:#;$EbbFc$>3TYUA$XGFSYYL
EbXU$!-20'109$kN$k=,(&I,,-0$QN$%-9,(#;($[L$$:-2(&'1(8$&0;$+&0+#2$10+1;#0+#$&C-09$7(-+P"-'C$
*12#$*19"(#2,L$$DC#2$<$/0;=,(21&'$:#;$Ebb3A$>GT>UA$>EbS>@L
Eb@U$p&"C$7%N$.#1,#0K=29#2$BBN$6&KK1(($QD$#($&'L$D$+&,#$+-0(2-'$,(=;8$-*$0-0S%-;9P10^,$
H8C5"-C&$&0;$("#$%#2K1+1;#$>N3$B1+"'-2-5"#0-O8&+#(1+$&+1;$T>N3SBU$10$)&,(#20$R#K2&,P&L$
)51;#C1-'-98$Ebb?c$ETGUA$F3bSGYL
EbbU$%&2;#''$HN$)21P,,-0$:N$H#00#2$Q$#($&'L$$:&'190&0($'8C5"-C&$&0;$#O5-,=2#$(-$+"#C1+&',N$
#,5#+1&''8$-29&01+$,-'I#0(,N$+"'-2-5"#0-',$&0;$5"#0-O8$&+1;,A$&$+&,#$+-0(2-'$,(=;8L$$621($<$
[&0+#2$Eb@Ec$3FT>UA$EYbSXYL
>??U$%&2,"K&29#2$<[$&0;$['&2P$<6L$)51W--(1-'-98$-*$0#-5'&,C,$10$K-08$*1,"$-*$R-2("$DC#21+&L$
7+1$!-(&'$)0I12-0$Ebb?c$b3TES>UA$ESF>L
>?EU$%&8#,$%:$<2N$%--I#2$4N$!&2-0#$4)L$$6'&;;#2$+&0+#2$10$5#($;-9,A$&$,#0(10#'$*-2$
#0I12-0C#0(&'$+&0+#2L$$DC$<$)51;#C1-'$Eb@Ec$EE3T>UA$>>bSFFL
>?>U$6&=C&00$Q[N$%&2,"K&29#2<[L$B#+'10#$10$'1I#2$0#-5'&,C,$10$J1';$K2-J0$K=''"#&;$+&(*1,"$
&*(#2$+-P109$5'&0($+'-,#,$&0;$#0I12-0C#0(&'$QD%,$5'=CC#(L$)0I12-0$"#&'("$Q#2,5#+($EbbGc$
E?FA$EY@SX?L
>?FU$Q#2#2&$]LQN$%#CC10P1$`N$k28WK-J,P&$)$#($&'L$:-'#+='&2$&0;$k#0#(1+$B&C&9#$10$%=C&0,$
*2-C$)0I12-0C#0(&'$Q-''=(1-0$10$Q-'&0;L$$R&(=2#$Ebb>c$FY?$TY3?EUA$>GYSG@L
>?3U$Q#2#2&$]QN$:--0#8$HDN$7(&C*#2$:$#($&'L$D,,-+1&(1-0,$K#(J##0$+&2+10-9#0SBRD$;&C&9#N$
9'=(&("1-0#$7$(2&0,*#2&,#$9#0-(85#,N$&0;$21,P$-*$'=09$+&0+#2$10$("#$52-,5#+(1I#$Q"8,1+1&0^,$
%#&'("$[-"-2($7(=;8L$[&2+10-9#0#,1,$>??>c$>FTE?UA$EY3ESYL
>?GU$H#J1,S:1+"'$)HN$:#'1=,$<:N$`&''#0K&+"$H4$#($&'L$$62#&,($+&0+#2$21,P$&0;$2#,1;#0+#$0#&2$
10;=,(28$-2$(2&**1+$10$R&,,&=$&0;$7=**-'P$[-=0(1#,N$H-09$/,'&0;N$R#J$i-2PL$$D2+"$)0I12-0$
%#&'("$EbbYc$GET3UA$>GGSYGL
>?YU$!"#$H-09$1,'&0;$62#&,($[&0+#2$7(=;8$4#5-2(,$ESF$TEb@@Sb?UN$R#J$i-2P$7(&(#$B#5&2(C#0($-*$
%#&'("N$B#5&2(C#0($-*$[-CC=01(8$&0;$Q2#I#0(&(1I#$:#;1+10#N$R&,,&=$[-=0(8$B#5&2(C#0($-*$
%#&'("$&0;$7=**-'P$[-=0(8$B#5&2(C#0($-*$%#&'("$7#2I1+#,L
>?XU$D,+"#092-=$DN$\W-0-**$B:L$_55#2$[&5#$[&0+#2$/0+1;#0+#$7(=;8A$]10&'$4#5-2(L$6-,(-0A$
:&,,L$B#5(,$-*$Q=K'1+$%#&'("$&0;$)0I12-0C#0($Q2-(#+(1-0$EbbEL
>?@U$D,+"#092&=$DN$\W-0-**$BN$Q&='=$[$#($&'L$[&0+#2$21,P$&0;$(#(2&+"'-2-#("8'#0#S+-0(&10109$
;210P109$J&(#2$10$:&,,&+"=,#((,L$D2+"$)0I12-0$%#&'("$EbbGc$3@TGUA$>@3Sb>L
>?bU$:+`#'I#8$.N$62-;8$<kN$D,+"#092&=$D$#($&'L$D,,-+1&(1-0$K#(J##0$2#,1;#0+#$-0$[&5#$[-;N$
:&,,&+"=,#((,N$&0;$K2#&,($+&0+#2L$D00$)51;#C1-'$>??3c$E3T>UA$@bSb3L
>E?U$]&9'1&0-$<N$6#228$:N$6-8#$]$#($&'L$$B210P109$J&(#2$+-0(&C10&(1-0$&0;$("#$10+1;#0+#$-*$
'#=P&#C1&A&0$#+-'-91+$,(=;8L$DC$<$Q=K'1+$%#&'("$Ebb?c$@?$TE?UA$E>?bSE>L
>EEU$[&0(-2$`Q$#($&'LN$.&(#2$Q-''=(1-0$I5$7+"-((#0*#';$B$&0;$]2&=C#01$<]$<2$T#;,LUN$[&0+#2$
)51;#C1-'-98$&0;$Q2#I#0(1-0N$>0;$#;L$\O*-2;A$\O*-2;$_01I$Q2#,,$EbbYL$
>E>U$H&9&P-,$7L.$#($&'L$$D0$&0&'8,1,$-*$+-0(&C10&(#;$J#''$J&(#2$&0;$"#&'("$#**#+(,$10$.-K=20N$
:&,,&+"=,#((,L$$<$DC#2$7(&($D,,-+$Eb@YA$FbGA$G@FSbYL
>EFU$\,K-20#$$<L7N$7"8$[:N$`&5'&0$6%L$$$)51;#C1-'-91+$&0&'8,1,$-*$&$2#5-2(#;$+&0+#2$+&,#$+'=,(#2$
10$&$,C&''$2=2&'$5-5='&(1-0L$$DC$<$)51;#C1-'$Ebb?c$EF>$T7=55$EUA$7@XSbGL
>E3U$H&C51$QN$%&P='10#0$!N$H=-,(&210#0$#($&'L$$$[&0+#2$10+1;#0+#$*-''-J109$+"'-2-5"#0-'$
#O5-,=2#$10$&$+-CC=01(8$10$7-=("#20$]10'&0;L$$D2+"$)0I12-0$%#&'("$Ebb>c$3XTFUA$EYXSXGL
>EGU$$/D4[$:-0-92&5",$-0$)I&'=&(1-0$-*$[&2+10-9#01+$41,P,$(-$%=C&0,$7=55'$X$TH8-0N$]2&0+#A$
/D4[$Eb@XUL
>EYU$_7LB%%7$7#I#0("$D00=&'$4#5-2($-0$[&2+10-9#0,N$4#,#&2+"$!21&09'#$Q&2PN$R[A=,L$
B#5&2(C#0($-*$%#&'("$&0;$%=C&0$7#2I1+#,N$Ebb?L
>EXU$%-'WC&0$BL$$6&0P109$-0$(1,,=#,L$)0I12-0$%#&'("$Q#2,5#+($EbbYc$E?3TYUA$Y?YSE?L$$
>E@U$:-,#,$:N$<-"0,-0$)7N$D09#2$.`$#($&'L$$)0I12-0C#0(&'$#V=1(8$&0;$5#,(1+1;#$#O5-,=2#L$
!-O1+-'$/0;$%#&'("$EbbFc$bTGUA$bEFSGbL
YG
>EbU$\0,(-($<N$D8'109$4N$7(&0'#8$<L$["&2&+(#21W&(1-0$-*$%4k[o:7$_01;#0(1*1#;$Q#&P,$*2-C$("#$
D0&'8,1,$-*$%=C&0$D;15-,#$(1,,=#L$d-'=C#$EA$!#+"01+&'$&552-&+"L$.&,"109(-0$B[A$_7$
)0I12-0C#0(&'$Q2-(#+(1-0$D9#0+8$\**1+#$-*$!-O1+$7=K,(&0+#,$TGY?oYS@XS??>&UN$Eb@X
>>?U$6-;8$6=2;#0A$)O#+=(1I#$7=CC&28N$>??FN$)0I12-0C#0(&'$.-2P109$k2-=5N$:-=0($710&1$
7+"--'$-*$:#;1+10#$&0;$[-CC-0J#&'L$JJJL#J9L-29o2#5-2(,oK-;8K=2;#0o
>>EU$]-,(#2$.N$["&0$7N$Q'&(($HN$%=9"#,$[L$$B#(#+(1-0$-*$#0;-+210#$;1,2=5(109$+"#C1+&',$10$
,&C5'#,$-*$,#+-0;$(21C#,(#2$"=C&0$&C01-(1+$*'=1;L$$<$['101+$)0;-+210-'$:#(&K-'$>???c$@GT@UA$
>bG3SXL
>>>U$p1#9#2$:L$61-C&2P#2,A$!"#$+'=#,$(-$9#0#(1+$,=,+#5(1K1'1(8L$)0I12-0$%#&'("$Q#2,5#+(1I#,$Ebb3c$
E?>TEUA$G?SXL
E47-?%*1"<"@+)0<-J+&%0&%
>>FU$4-;1#2$Q:L$$$B#I#'-5109$K2&10$&,$&$(&29#($-*$(-O1+1(8L$$)0I12-0$%#&'("$Q#2,5#+($EbbGA$E?F$
7=55'$YA$XFSYL
>>3U$%&((1,$BN$k'-J&$<$!1',-0$%$#($&'L$41,P$&,,#,,C#0($*-2$0#=2-K#"&I1-=2&'$(-O1+1(8A$7k\:7)[$
M-10($2#5-2(L$)0I$%#&'("$Q#2,5#+($EbbYcE?3$T7=55'$>UA$>3bSXE
>>GU$H&0;2190$Q<N$k2&"&C$BkN$D09#2$.`$#($&'L$)0I12-0C#0(&'$(-O1+-'-98L$.&,"109(-0$B[A$
R&(1-0&'$D+&;#C8$Q2#,,NEbb>L
>>YU$.#1,,6L41,P$&,,#,,C#0(A$!"#$10,1;1-=,$0&(=2#$-*$0#=2-(-O1+1(8$&0;$("#$&9109$K2&10L$
R#=2-(-O1+-'-98$Ebb?cEEAF?GSE3
>>XU$`0&55$#($&'L$B#C#0(1&$_`A$4#5-2($(-$("#$D'W"#1C#2^,$7-+1#(8N$`109^,$[-''#9#N$H-0;-0$&0;$
H-0;-0$7+"--'$-*$)+-0-C1+,$&0;$Q-'1(1+&'$7+1#0+#N$>??X
>>@U$Q21(+"&2;$[N$6&';J10$BN$:&8#2,$DL$$["&09109$5&((#20,$-*$&;='($0#=2-'-91+&'$;#&(",$T3GSX3$
8#&2,U$10$("#$C&M-2$J#,(#20$J-2';$+-=0(21#,$TEbXbSEbbXUL$$Q=K'1+$%#&'("$>??3c$EE@T3UA$
>Y@S@FL
>>bU$!&8'-2$6N$:1''#2$)N$]&22109(-0$[Q$#($&'L$$D=(1,C$&0;$C#&,'#,N$C=C5,$&0;$2=K#''&$I&++10#A$0-$
#51;#C1-'-91+&'$#I1;#0+#$*-2$&$+&=,&'$&,,-+1&(1-0L$H&0+#($Ebbbc$FGFTbEYbUA$>?>YSbL
>F?U$48K1+P1$4DN$<-"0,-0$[[N$_C&0$<N$k-22#''$<:L$$Q&2P10,-0^,$;1,#&,#$C-2(&'1(8$&0;$("#$
10;=,(21&'$=,#$-*$"#&I8$C#(&',$10$:1+"19&0L$$:-I$B1,-2;$EbbFc$@TEUA$@XSb>L
E4>-H%#$0<-J+&%0&%
>FEU$7(2&"1'#I1(W$:N$7(2&"1'#I1(W$DN$:1''#2$<)L$$D12$5-''=(&0(,$&0;$("#$&;C1,,1-0$2&(#$-*$5,8+"1&(21+$
5&(1#0(,L$$DC$<$Q,8+"1&(28$EbXbc$EFYT>UA$>?GSXL$
>F>U$621#2#$<N$B-J0#,$DN$75#0,'#8$<L$$$DL$,=CC#2$10$("#$+1(8A$=2K&0$J#&("#2$+-0;1(1-0,$&0;$
5,8+"1&(21+$#C#29#0+8$2--C$I1,1(,L$$<$DK0-2C$Q8,+"-'$Eb@Fc$b>TEUA$XXS@?L
>FFU$:-22-J$HDN$`&C1,$%N$%-;9,-0$:<L$$$Q,8+"1&(21+$,8C5(-C&(-'-98$10$5#2,-0,$J1("$-29&01+$
,-'I#0($#O5-,=2#L$$<$[-0,='($['101+$Q8,+"-'$EbbFc$YETEUA$EXES3L
>F3U$:-22-J$HDN$7(#10$HN$7+-(($D$#($&'L$$R#=2-5,8+"-'-91+&'$&,,#,,C#0(N$;#52#,,1-0$&0;$5&,($
#O5-,=2#$(-$-29&01+$,-'I#0(,L$$D55'1#;$R#=2-58,+"-'$>??Ec$@T>UA$YGSXFL
E4A-K+"<%#)%-0#6-!1+/%
>FGU$%&''$4.L$$$D$,(=;8$-*$C&,,$C=2;#2A$#I1;#0+#$-*$=0;#2'8109$+&;C1=C$&0;$'#&;$5-1,-0109$&0;$
K2&10S10I-'I#;$1CC=0-2#&+(1I1(8L$$/0($<$61-,+-+$:#;$4#,$Eb@bc$EEA$E33SG>L
>FYU$:&2'-J#$:N$7+"0#1;#2$%kN$6'1,,$H6L$$$%&12$C10#2&'$&0&'8,1,$10$#C-(1-0&''8$;1,(=2K#;$&0;$
I1-'#0+#$52-0#$+"1';2#0L$$/0($<$61-,-+$$:#;$4#,$$EbbEc$EFA$EYbSXbL
>FXU$$Q1"'$4\N$)2I10$]L$$H#&;$&0;$+&;C1=C$'#I#',$10$I1-'#0($+21C10&',L$$Q8,+"-'$4#5$Ebb?c$YYTFQ($
EUA$@FbS33L
>F@U$$B#00-$B.L$$k#0;#2N$+21C#$&0;$("#$+21C10&'$'&J$;#*#0+#,L$$<$[21C$H&J$[21C10-'$Ebb3c$@GA$
@?SE@?L
>FbU$$B#K-2&"$B#00-L$$61-'-98$&0;$d1-'#0+#A$]2-C$612("$(-$D;='("--;L$[&CK21;9#$_01I#2,1(8$
Q2#,,N$Ebb?L
>3?U$$7(2#(#,P8$Q6N$H80+"$:<L$$!"#$2#'&(1-0,"15$K#(J##0$'#&;$#O5-,=2#$&0;$"-C1+1;#L$$D2+"$Q#;$
D;-'#,+$:#;$>??Ec$EGGTGUA$GXbS@>L
>3EU$$7(2#(#,P8$Q6N$H80+"$:<L$$$!"#$2#'&(1-0,"15$K#(J##0$'#&;$&0;$+21C#L$$<$%#&'("$w$7-+$6#"&I$
>??3c$3GT>UA$>E3S>bL
F4-=+@9-L+&M-N1"*C&
YY
F43-O9%-Z"%$*&
>3>U$[#0(#2,$*-2$B1,#&,#$[-0(2-'L$$6'--;$&0;$"&12$C#2+=28$'#I#',$10$8-=09$+"1';2#0$&0;$J-C#0$-*$
+"1';K#&2109$&9#L$_01(#;$7(&(#,$Ebbb$:-2K1;1(8$&0;$:-2(&'1(8$4#5-2(N$>??Ec$G?A$E3?S3FL
>3FU$D0;#2,-0$H:N$B1J&0$6DN$]#&2$R!N$4-C&0$)L$$[21(1+&'$J10;-J,$-*$#O5-,=2#$*-2$+"1';2#0^,$
"#&'("A$+&0+#2$10$"=C&0$#51;#C1-'-91+&'$,(=;1#,$&0;$0#-5'&,C,$10$#O5#21C#0(&'$&01C&'$
C-;#',L$$)0I12-0$%#&'("$Q#2,5#+($>???c$E?@$,=55'$FA$GXFSb3L
>33U$_7$)0I12-0C#0(&'$Q2-(#+(1-0$D9#0+8N$\**1+#$-*$Q-''=(1-0$Q2-(#+(1-0$$&0;$!-O1+$7=K,(&0+#,N$
["#C1+&'$%&W&2;$B&(&$DI&1'&K1'1(8$7(=;8A$."&($;-$J#$2#&''8$P0-J$&K-=($"19"$52-;=+(1-0$
I-'=C#$+"#C1+&',j$_7)QDA$.&,"109(-0$B[NEbb@L
>3GU$7-00#0,+"#10$[N$7-(-$D:L$$D0$_5;&(#;$2#I1#J$-*$#0I12-0C#0(&'$#,(2-9#0$&0;$&0;2-9#0$
C1C1+,$&0;$&0(&9-01,(,L$$$<$7(#2-1;$61-+"#C$:-'$61-'$Ebb@c$YG$TESYUA$E3FSG?L
>3YU$:&2P#8$[:N$[--CK,$:DN$7-00#0,+"#10$[N$7-(-$D:L$$$:&CC&'1&0$;#I#'-5C#0($10$&$
+"&09109$#0I12-0C#0(A$#O5-,=2#$(-$#0;-+210#$;1,2=5(-2,$2#I#&',$("#$;#I#'-5C#0(&'$5'&,(1+1(8$
-*$,(#2-1;S"-2C-0#$(&29#($-29&0,L$$)I-'$B#I$>??Fc$GTEUA$YXSXGL
>3XU$!1',-0$%DN$<&+-K,-0$<HN$4-9&0$.<L$$$Q-'8+"'-210&(#;$K15"#08',$&0;$("#$;#I#'-5109$0#2I-=,$
,8,(#CA$+2-,,$,5#+1#,$+-C5&21,-0,L$$R#=2-(-O1+-'$!#2&(-'$Ebb?c$E>$TFUA$>FbS3@L
>3@U$.#1,9&',S`=5#2&,$RN$Q&(&0;10$7N$6#2K#2,$kDN$#($&'L$$/CC=0-'-91+&'$#**#+(,$-*$K&+P92-=0;$
#O5-,=2#$(-$5-'8+"'-210&(#;$K15"#08',$&0;$;1-O10,$10$B=(+"$52#,+"--'$+"1';2#0L$$)0I12-0$
%#&'("$Q#2,5#+($>???c$E?@TE>UA$E>?FSXL
>3bU$4-9&0$.<N$k'&;#0$6[N$:+`100#8$<BN$#($&'L$$Q-'8+"'-210&(#;$K15"#08',$TQ[6,U$&0;$
;1+"'-2-;15"#08';1+"'-2-#("#0#$TBB)U$10$"=C&0$C1'PA$#**#+(,$-*$C&(#20&'$*&+(-2$&0;$
52#I1-=,$'&+(&(1-0L$$DC$<$Q=K'1+$%#&'("$Eb@Yc$XYT>UA$EX>SXL
>G?U$6-;8$6=2;#0A$!"#$Q-''=(1-0$10$R#JK-20,A$)O#+=(1I#$7=CC&28N$<='8$>??GN$)0I12-0C#0(&'$
.-2P109$k2-=5N$:-=0($710&1$7+"--'$-*$:#;1+10#$&0;$
[-CC-0J#&'LJJJL#J9L-29o2#5-2(,oK-;8K=2;#0>o#O#+,=CCL5"5
>GEU$D$Q2#,#0($*-2$H1*#A$%&W&2;-=,$+"#C1+&',$10$=CK1'1+&'$+-2;$K'--;L$..]ok2##05#&+#N$
7#5(#CK#2$>??GL$
JJJL92##05#&+#L-29o2&Jo+-0(#0(o10(#20&(1-0&'o52#,,o2#5-2(,o=CK1'1+&'+-2;2#5-2(L5;*
F47-O9%-I1%0&$P8%6-5#80#$
>G>U$<#0,#0$DDN$7'-2&+"$7DL$$D,,#,,C#0($-*$10*&0($10(&P#$-*$+"#C1+&',$I1&$K2#&,($C1'P$35&
["#C1+&'$[-0(&C10&0(,$10$%=C&0$:1'PL$6-+&$4&(-0A$[4[$Q2#,,$EbbEL$55>EGS>>L
>GFU$$`--5C&0S),,#K--C$[N$%=1,C&0$:N$.#1,9'&,S`=5#2=,$RN$#($&'L$$$B1-O10$&0;$Q[6$'#I#',$10$
K'--;$&0;$"=C&0$C1'P$10$2#'&(1-0$(-$'1I109$10$("#$R#("#2'&0;,L$$["#C-,5"#2#$Ebb3c$>b$TbSEEUA$
>F>XSF@L
>G3U$Q&(&0;10$7N$B&90#'1#$Q[N$:=';#2$QkN$#($&'L$$$B1#(&28$#O5-,=2#$(-$5-'8+"'-210&(#;$K15"#08',$
&0;$;1-O10,$*2-C$10*&0+8$=0(1'$&;='("--;A$&$+-C5&21,-0$K#(J##0$K2#&,(S*##;109N$(-;;'#2$&0;$
'-09S(#2C$#O5-,=2#L$)0I12-0$%#&'("$Q#2,5#+($Ebbbc$E?XTEUA$3GSGEL
>GGU$4-9&0$.<N$6&901#J,P&$DN$B&C,(2&$!L$$Q-''=(&0(,$10$K2#&,($C1'PL$R$)09'$<$:#;$Eb@?c$
F?>T>YUA$E3G?SFL
>GYU$<&+-K,-0$<HN$<&+-K,-0$7.L$$Q2#0&(&'$#O5-,=2#$(-$5-'8+"'-210&(#;$K15"#08',$&0;$&((#0(1-0$&($
,+"--'$&9#L$<$Q&#;1&(2$>??Fc$E3FTYUA$X@?S@L
>GXU $ <&+-K,-0 $ <HN $ <&+-K,-0 $ 7.L $ D,,-+1&(1-0 $ -* $ 52#0&(&' $ #O5-,=2# $ (- $ &0 $ #0I12-0C#0(&'$
+-0(&C10&0( $ J1(" $ 10(#''#+(=&' $ *=0+(1-0 $ 10 $ +"1';"--;L $ < $ !-O1+-' $ ['10 $ !-O1+-' $ >??>c $ 3?T3UA$
3YXSXGL
>G@U$<&+-K,-0$<HN$<&+-K,-0$7.L$$/0(#''#+(=&'$1C5&12C#0($10$+"1';2#0$#O5-,#;$(-$5-'8+"'-210&(#;$
K15"#08',$10$=(#2-L$$R$)09$<$:#;$EbbYc$FFGTEEUA$X@FSbL
>GbU$`10K2-=9"$4BL$!-O1+-'-91+&'$1C5'1+&(1-0,$-*$"=C&0$C1'P$2#,1;=#,$&,$10;1+&(#;$K8$
(-O1+-'-91+&'$&0;$#51;#C1-'-91+&'$,(=;1#,$35$<#0,#0$DD$w$7'-2&+"$7DA$["#C1+&'$
[-0(&C10&0(,$10$%=C&0$:1'PN$Ebb?$55>XES@FL
>Y?U$41+#$B[L$$6#"&I1-=2&'$1C5&12C#0($52-;=+#;$K8$'-JS'#I#'$5-,(0&(&'$Q[6$#O5-,=2#$10$
C-0P#8,L$$)0I$4#,$Ebbbc$@?T>$Q($>UA$7EEFS7E>EL
>YEU$41+#$B[L$$$)**#+(,$-*$5-,(0&(&'$#O5-,=2#$-*$C-0P#8,$(-$&$Q[6$C1O(=2#$-0$,5&(1&'$
;1,+21C10&(1-0$2#I#2,&'$&0;$B4H$5#2*-2C&0+#L$$R#=2-(-O1+-'$!#2&(-'$Ebb@c$>?T3UA$FbES3??L
YX
>Y>U$41+#$B[N$%&8J&2;$7L$$$$)**#+(,$-*$5-,(0&(&'$#O5-,=2#$(-$&$Q[6$C1O(=2#$10$C-0P#8,$-0$0-0S
,5&(1&'$;1,+21C10&(1-0$2#I#2,&'$&0;$;#'&8#;$&'(#20&(1-0$5#2*-2C&0+#L$$R#=2-(-O1+-'-98$EbbXc$
E@T>UA$3XbSb3L
>YFU$%&''92#0$7N$710M&21$!N$%&P&0,,-0$%N$B&20#2=;$Q\L$$$)**#+(,$-*$5-'8K2-C10&(#;$;15"#08'$
#("#2,$TQ6B),U$&0;$5-'8+"'-210&(#;$K15"#08',$TQ[6,U$-0$("82-1;$"-2C-0#$&0;$I1(&C10$D$
'#I#',$10$2&(,$&0;$C1+#L$$D2+"$!-O1+-'$>??Ec$XGT3UA$>??S@L
>Y3U$%--5#2$`N$:+B-0&';$!DL$$$!"#$Q6B),A$&0$#C#29109$#0I12-0C#0(&'$+"&''#09#$&0;$&0-("#2$
2#&,-0$*-2$K2#&,($C1'P$C-01(-2109$52-92&C,L$)0I$%#&'("$Q#2,5#+($>???c$E?@TGUA$F@XSb>L
F4>-!9+<61%#
>YGU$:--'9&IP&2$7%N$d#0W-0$B<L$!J-S#I#0($C-;#'$*-2$+&2+10-9#0#,1,A$10+1;#0+#$-*$+=2I#,$*-2$
+"1';"--;$&0;$&;='($(=C-=2,L$$:&(",$61-,+1$EbXbc$3XA$GGSXXL
>YYU$4-;1#2$Q:L$["2-0-'-98$-*$0#=2-0$;#I#'-5C#0(A$&01C&'$,(=;1#,$&0;$("#12$+'101+&'$
1C5'1+&(1-0,L$$$B#I$:#;$["1';$R#=2-'$Eb@?c$>>T3UA$G>GS3GL
>YXU$)PK-C$DN$%,1#"$[[N$H15J-2("$HN$#($&'L$$/0(2&=(#210#$#0I12-0C#0($&0;$K2#&,($+&0+#2$21,P$10$
J-C#0A$&$5-5='&(1-0SK&,#;$,(=;8L$$<$R&('$[&0+#2$/0,($EbbXc$@bTEUA$XESYL
>Y@U$$`0-O$)kL$$["1';"--;$+&0+#2,$&0;$&(C-,5"#21+$+&2+10-9#0,L$$<$)51;#C1-'$[-CC=01(8$
%#&'("$>??Gc$GbT>UA$E?ESGL
>YbU$!-C&(1,$HN$\I#2I1#J$-*$5#210&(&'$&0;$C='(19#0#2&(1-0$+&2+10-9#0#,1,L$$D4[$7+1$Q=K'$Eb@bc$
bYA$ESEGL
>X?U$D0;#2,-0$H:N$B-0-I&0$Q<N$41+#$<:N$41,P$&,,#,,C#0($*-2$(2&0,5'&+#0(&'$+&2+10-9#0#,1,L$I5&
R#J$D552-&+"#,$10$!-O1+1(8$!#,(109$&0;$("#12$D55'1+&(1-0$10$%=C&0$41,P$D,,#,,C#0($T#;$H1$
DQUL$Eb@G$55EXbS>?>L
>XEU$H&0;219&0$Q<N$k&29$DL$$["2-01+$#**#+(,$-*$(-O1+$#0I12-0C#0(&'$#O5-,=2#,$10$+"1';2#0^,$
"#&'("L$<$!-O1+-'$['101+&'$!-O1+-'$>??>c$3?T3UA$33bSGYL
>X>U$[&'&K2#,#$)L<L$$D9#$&0;$7=,+#5(1K1'1(8$(-$!-O1+$7=K,(&0+#,L$R#J$i-2PN$<-"0$.1'#8$w$7-0,$
Eb@YL
>XFU$R&(1-0&'$D+&;#C8$-*$7+1#0+#,L$7+1#0(1*1+$]2-0(1#2,$10$B#I#'-5C#0(&'$!-O1+-'-98$&0;$41,P$
D,,#,,C#0(L$R&(1-0&'$D+&;#C8$Q2#,,N$.&,"109(-0$B[$>???L
>X3U$.10;"&C$k[N$p"&09$HN$k=01#2$4$#($&'L$D=(1,C$,5#+(2=C$;1,-2;#2,$10$2#'&(1-0$(-$;1,(21K=(1-0$
-*$"&W&2;-=,$&12$5-''=(&0(,$10$("#$7&0$]2&0+1,+-$K&8$&2#&L$)0I12-0$%#&'("$Q#2,5#+($
>??YcEE3TbUA$E3F@S33
>XGU$`#0#($!$#($&'L$Q#210&(&'$#O5-,=2#$(-$&$0-0+-5'&0&2$5-'8+"'-210&(#;$K15"#08'$&'(#2,$(-0-(-58N$
2#+#5(1I#$*1#';,$&0;$5'&,(1+1(8$10$2&($521C&28$&=;1(-28$+-2(#OL$Q2-+$R&('$D+&;$7+1$_7D$>??Xc$
E?3$TE@UAXY3YSGE
>XYU$<&+-K,-0$<HN$<&+-K,-0$7.N$%=C5"2#8$%)L$$)**#+(,$-*$35&,0.2*$#O5-,=2#$(-$5-'8+"'-210&(#;$
K15"#08',$&0;$2#'&(#;$+-0(&C10&0(,$-0$+-901(1I#$*=0+(1-0109$10$8-=09$+"1';2#0L$$<$Q&#;1&(2$
Ebb?c$EEYTEUA$F@S3GL
>XXU$R##;'#C&0$%HN$H#I1(-0$DN$6#''109#2$BL$$$H#&;S&,,-+1&(#;$10(#''#+(=&'$;#*1+1(L$$$R$)09$<$:#;$
Eb@>c$F?YTYUA$FYXL
F4A-O9%-!9%/+)0<<2-.%#&+$+,%
>X@U$410,P8$4D$#($&'L$$6#0W#0#$&0;$'#=P#C1&A$&0$#51;#C1-'-91+$21,P$&,,#,,C#0(L$R$)09$<$:#;$
Eb@Xc$FEYTEXUA$E?33SG?L
>XbU$Q#'P-0#00$\L$$[-C5&21,-0$-*$&+(1I1(1#,$-*$;2=9SC#(&K-'1W109$#0W8C#,$10$"=C&0$*#(&'$&0;$
&;='($'1I#2,L$$['101+$Q"&2C&+-'$!"#2$EbXFc$E3TGUA$@3?SYL
>@?U$%&((1,$BN$4=,,$DN$k-K'#$4N$#($&'L$$%=C&0$10(#210;1I1;=&'$I&21&K1'1(8$10$,=,+#5(1K1'1(8$(-$
&12K-20#$5&2(1+'#,L$$41,P$D0&'$>??Ec$>ET3UA$G@GSbbL
>@EU$]21#;C&0$4L$$7#0,1(1I#$Q-5='&(1-0,$&0;$)0I12-0C#0(&'$7(&0;&2;,L$!"#$[-0,#2I&(1I#$
]-=0;&(1-0N$.&,"109(-0$B[$TEb@EUL
.%)$+"#-G4-;0&$-H+&$0M%&-0#6-$9%-;1%)0*$+"#012-;1+#)+C<%
G43-O9%-;1%)0*$+"#012-;1+#)+C<%
Y@
>@>U$)=2-5#&0$[-CC1,,1-0$>???L$[-CC=01+&(1-0,$*2-C$("#$[-CC1,,1-0$-0$("#$Q2#+&=(1-0&28$
Q210+15'#
$
T[\:
$
T>???U
$
$
EU
$
62=,,#',L
$
_4HA$
"((5Aoo#=2-5&L#=L10(o+-CCLo;9,o"#&'("x+-0,=C#2o'1K2&28o5=Ko5=K?Xx#0L5;* $ T&++#,,#; $ F?$
R-I#CK#2$>??FUL
>@FU$k2&0;M#&0$QN$6&1'&2$<[N$k##$BN$#($&'L$$/C5'1+&(1-0,$-*$("#$52#+&=(1-0&28$5210+15'#$10$2#,#&2+"$
&0;$5-'1+8SC&P109L$$DC$<$/0;$:#;$>??3c$3GT3UA$F@>SGL
>@3U$$]2&0+"101$:N$41&'$:N$6=1&((1$)N$61&0+"1$]L$$%#&'("$#**#+(,$-*$#O5-,=2#$(-$J&,(#$10+10#2&(-2$
#C1,,1-0,A$&$2#I1#J$-*$("#$#51;#C1-'-91+&'$,(=;1#,L$D00$/,($7=5#2$7&01(&N$>??3c$3?TEUA$
E?ESEGL
G47-Q%01#+#@-81"/-;0&$-H+&$0M%&
>@GU$41+#$B[N$)I&09#'1,(&$;#$B=**&2;$D:N$B=**&2;$4$#($&'L$H#,,-0,$*-2$0#=2-(-O1+-'-98$*2-C$
,#'#+(#;$C-;#'$+-C5-=0;,$7k\:7)[$M-10($2#5-2(L$$)0I$%#&'("$Q#2,5#+($EbbYc$E?3$T7=55$>UA$
>?GSEGL
.%)$+"#-R4-S<$%1#0$+,%-T0&$%-O%)9#"<"@+%&
R47-;1"6*)+#@-Q%&&-T0&$%
>@YU$B#5&2(C#0($-*$]--;N$)0I12-0C#0($&0;$4=2&'$D**&12,$T>??YUc$4#I1#J$-*$)09'&0;^,$.&,(#$
7(2&(#98A$D$[-0,='(&(1-0$B-+=C#0(N$H-0;-0N$B#*2&L
>@XU$)0#298$k2##0$Q&5#2N$!-J&2;,$&$)=2-5#&0$7(2&(#98$*-2$("#$7#+=21(8$-*$)0#298N$)=2-5#&0$
[-CC1,,1-0N>??EL$"((5Aoo#=2-5&L#=L10(o+-CCo#0#298x(2&0,5-2(o;-+S5210+15&'o5=K*10&'x#0L5;*
>@@U$.-2';$)0#298$\=('--P$>??EN$>??E$/0,19"(,N$/0(#20&(1-0&'$)0#298$D9#0+8T/)DU$&0;$("#$
\29&01,&(1-0$*-2$)+-0-C1+$[-S-5#2&(1-0$&0;$B#I#'-5C#0($TU)[BUN$>??EL$
"((5Aoo'1K2&28L1#&L-29o;K(JSJ5;o!#O(K&,#o05-';o05-';x5;*oJ#->??EL5;*
>@bU$:-KK,$QN$)0#298$K#8-0;$\1'N$[2-0J#''$Q2#,,$H(;N$$>??GN!2-JK21;9#N$_`
>b?U$[&CK21;9#$)+-0-C#(21+,N$_`$)0#298$&0;$("#$)0I12-0C#0(L$:&2+"$>??@
R4G-S60,0#)%6-O9%1/0<-O%)9#"<"@+%&-WSOOX-0#6-;<0&/0-N0&+8+)0$+"#
>bEU$k-C#W$)N$DC=("&$4&01$BN$["##,C&0$[4$#($&'L$!"#2&'$5'&,C&$(#+"0-'-98$*-2$("#$(2#&(C#0($
-*$J&,(#,A$D$+21(1+&'$2#I1#JN$>??@N$<-=20&'$-*$"&W&2;-=,$:&(#21&',N$
;-1AE?LE?EYoML"&WC&(L>??@L3L?EXAESEF
R4R-N1%%#9"*&%-N0&%&
>b>U$."1(#$QN$]2&0P#$:N$%10;'#$QL$/0(#92&(#;$7-'1;$.&,(#$:&0&9#C#0(A$D$H1*#,(8'#$/0I#0(-28N$
Ebb3N$6'&+P1#$D+&;#C1+$D0;$Q2-*#,,1-0&'
.%)$+"#-Y4-!"&$&-"8-5#)+#%10$+"#
Y43--J+1%)$-0#6-5#6+1%)$-!"&$&
>bFU$Q=K'1+$[-0,='(&(1-0$-0$.&,(#$C&0&9#C#0($\5(1-0,N$7+-((1,"$)0I12-0C#0(&'$Q2-(#+(1-0$
D9#0+8N$.#,(#20$/,'#,$7(2&(#98$D2#&N$R-I$>??E
>b3U$4=,,#''$:N$[-'9'&W1#2$.N$!-00$6)L$!"#$_7$"&W&2;-=,$J&,(#$'#9&+8L$)0I12-0C#0(N$Ebb>c$
F3TYUA$EFSFb
Y47-=%0<$9-)"&$&-"8-5#)+#%10$+"#
>bGU$)0#298$!#+"0-'-98$7=55-2($_01($T)!7_UN$EbbYN$)+-0-C1+$)I&'=&(1-0$-*$("#$;2&*($
10+10#2&(-2$B12#+(1I#N$)=2-5#&0$[-CC1,,1-0
>bYU$]10&'$2#5-2($*-2$B)]4D$K8$)0I12-,$[-0,='(109$H(;$10$&,,-+1&(1-0$J1("$)R!)[A$d&'=&(1-0$-*$
("#$)O(#20&'$[-,(,$&0;$6#0#*1(,$(-$%#&'("$&0;$)0I12-0C#0($-*$.&,(#$:&0&9#C#0($\5(1-0,L$
B#+$>??3
>bXU$),"#($!N$D8&'-0$\N$7+"#+(#2$:L$D$[21(1+&'$4#I1#J$-*$)+-0-C1+$)I&'=&(1-0$7(=;1#,$-*$
)O(#20&'1(1#,$*2-C$/0+10#2&(1-0$&0;$'&0;*1''109L$.&,(#$C&0&9#C#0($4#,N$>??Gc$>FA3@XSG?3
>b@U$:12&0;&$:HN$%&'#$6L$.&,(#$0-(N$J&0($0-(N$("#$521I&(#$&0;$,-+1&'$+-,($-*$#0#298$52-;=+(1-0L$
)0#298$Q-'1+8N$EbbXc$>GAG@XSY??
Y4>-Z+#0#)+0<-N0+#&-81"/-1%6*)+#@-;"<<*$+"#
>bbU$.='*S7+"0&K#'$<N$H-",#$<L$$)+-0-C1+$#I&'=&(1-0$-*$;=,($&K&(#C#0($(#+"01V=#,$10$("#$
)=2-5#&0$[#C#0($/0;=,(28L$D$2#5-2($52-;=+#;$*-2$("#$)=2-5#&0$[-CC1,,1-0N$:&8$EbbbL
Yb
F??U$$Q1&010$)L$$7(=;8$*10;,$R#($k&10$*2-C$Q-''=(1-0$2='#,L$.&,"109(-0$Q-,(N$7#5($>X("N$>??FL
Y4A-B$9%1-.$*6+%&-"8-$9%-=%0<$9-!"&$&-"8-;"<<*$+"#
F?EU$:=12$!N$p#9&2&+$:L$7-+1#(&'$[-,(,$-*$)O5-,=2#$(-$!-O1+$7=K,(&0+#,A$)+-0-C1+$&0;$"#&'("$
[-,(,$-*$]-=2$[&,#$,(=;1#,$("&($&2#$[&0;10&(#,$*-2$)0I12-0C#0(&'$[&=,&(1-0L$)0I$%#&'("$
Q#2,5#+($>??Ec$E?b$T7=55'$YUA$@@Gb?F
F?>U$.-2';$.1';'1*#$]=0;$4#5-2(A$[-C52-C1,109$\=2$["1';2#0A$["#C1+&'$/C5&+(,$-0$["1';2#0^,$
10(#''19#0+#$&0;$6#"&I1-=2N$<=0#$>??3L$JJJLJJ*L-29L=Po+"#C1+&',$
.%)$+"#-3[4-B$9%1-!"#&+6%10$+"#&-"8-5/C"1$0#)%
3[43-O9%-;1":<%/-"8-S&9
F?FU$:&2P=,$!N$6#"01,+"$QN$%&9#0C&1#2$%$#($&'L$B1-O10'1P#$+-C5-0#0(,$10$10+10#2&(-2$*'8$&,"A$D$
+-C5&21,-0$K#(J##0$+"#C1+&'$&0&'8,1,$;&(&$&0;$2#,='(,$*2-C$&$+#''$+='(=2#$K1-&,,&8L$)0I12-0$
%#&'("$Q#2,5#+($EbbXc$E?GTE>UA$3XGS@E
3[47-L06+"0)$+,+$2
F?3U$6#2&'$dN$4--0#8$[N:&+-0-+"1#$R$#($&'L$[&,#$+-0(2-'$,(=;8$-*$52-,(&(1+$+&0+#2$10$)C5'-8##,$
-*$("#$_01(#;$`109;-C$D(-C1+$)0#298D=("-21(8L$6:<NEbbFc$F?XA$EFbESX
F?GU$7(-PP#$!N$\*(#;&'$QN$Q&55&,$DL$)**#+(,$-*$&$,C&''$;-,#,$-*$2&;1-&+(1I#$,(2-0(1=C$-0$$("#$2&($
K-0#$C&22-JL$D+(&$4&;1-'-91+&$EbY@A$XAF>ESb
F?YU$H=0109$`kN$]2-'#0$%N$R#',-0$DL$k#0#(1+$#**#+(,$-*$7(2-0(1=C$b?$10M#+(#;$10(-$C&'#$C1+#L$
R&(=2#$EbYFc$EbXAF?3SG
F?XU$6=,K8$[N$.109,$-*$B#&("A$R=+'#&2$Q-''=(1-0$&0;$%=C&0$%#&'("N$EbbGN$k2##0$D=;1($T.&'#,U$
H(;N$DK#28,(J8("
F?@U$6#2;$d$#($&'$T#;,LUN$["1';"--;$[&0+#2$&0;$R=+'#&2$/0,(&''&(1-0,$TH-0;-0N$6:<$Q=K'1,"109$
k2-=5$EbbFUL$$
F?bU$k&2;0#2$:<L$$["1';"--;$'#=P&#C1&$&2-=0;$("#$7#''&*1#';$0=+'#&2$5'&0(L$I5$Q$)''1-($#($&'$T#;,LU$
k#-92&5"1+&'$&0;$)0I12-0C#0(&'$)51;#C1-'-98A$:#("-;,$*-2$7C&''$D2#&$7(=;1#,L$\O*-2;N$
\O*-2;$_01I#2,1(8$Q2#,,$Ebb>N$55>bESF?bL
FE?U$$%#&,C&0$:DN$`#C5$/.N$_2V=&2($<BN$6'&+P$4L$$["1';"--;$+&0+#2$10$R-2("#20$7+-('&0;L$
H&0+#($Eb@Yc$E$T@3XGUA$>YYL
FEEU$4-C&0$)N$.&(,-0$DN$6#2&'$dN$#($&'L$$$[&,#$+-0(2-'$,(=;8$-*$'#=P#C1&$&0;$R-0S%-;9P10$
'8C5"-C&$&C-09$+"1';2#0$&9#;$?S3$i#&2,$'1I109$10$.#,($6#2P,"12#$&0;$R-2("$%&C5,"12#$
"#&'("$;1,(21+(,L$$6:<$EbbFc$F?YTY@X@UA$YEGS>EL
FE>U$:-221,$:7N$`0-22$47L$$$D;='($'#=P#C1&$&0;$52-O1C1(8SK&,#;$,=22-9&(#,$*-2$#O5-,=2#$(-$
Q1'921C$5'&0(^,$0=+'#&2$#C1,,1-0,L$$D2+"$)0I12-0$%#&'("$EbbYc$GET3UA$>YYSX3L
FEFU$$['&55$4.$#($&'L$$H#=P&#C1&$0#&2$:&,,&+"=,#((,$0=+'#&2$5-J#2$5'&0(L$$H&0+#($Eb@Xc$
>T@GXEUA$EF>3SGL
FE3U$6&P#2$Q<N$%-#'$BkL$:#(&S&0&'8,1,$-*$,(&0;&2;1W#;$10+1;#0+#$&0;$C-2(&'1(8$2&(#,$-*$+"1';"--;$
'#=P&#C1&$10$52-O1C1(8$(-$0=+'#&2$*&+1'1(1#,L$)=2$<$[&0+#2$[&2#N$>??XcEYA$FGGSYF
3[4>-O9%-.C1%06-"8-;"<<*$0#$&
FEGU$R&(1-0&'$4#,#&2+"$[-=0+1'$T>???UA$.&,(#$/0+10#2&(1-0$&0;$Q=K'1+$%#&'("$/76RA$
?SF?bS?YFXESvN.&,"109(-0$B[N$R&(1-0&'$D+&;#C8$Q2#,,L
FEYU$:1((&'$D`N$d&0$k21#P#0$4N$4&I10;2&LL$%#&'("$21,P$&,,#,,C#0($-*$=2K&0$,=,5#0;#;$5&2(1+='&(#$
C&((#2$J1("$,5#+1&'$2#*#2#0+#$(-$5-'8+8+'1+$&2-C&(1+$"8;2-+&2K-0,A$&$2#I1#JL$$4#I$)0I12-0$
%#&'("$>??Ec$EY$TQ($FUA$EYbS@bL
FEXU$]10&'$2#5-2($(-$("#$R-2("$DC#21+&0$[-CC1,,1-0$*-2$)0I12-0C#0(&'$[--5#2&(1-0$T]'=,"109N$
RLiLA$[#0(2#$*-2$("#$61-'-98$-*$R&(=2&'$,8,(#C,N$g=##0,$[-''#9#N$[_RiN$>???UL
FEbU$$4&'-**$]<L$$$)I#0$R=0&I=($9#(,$5'#0(8$-*$;1-O10L$$7+1#0+#$R#J,$>???c$EG@$A$>F?L
3[4A-!%/%#$-\+<#&
FEbU$Q#2,-0&'$[-CC=01+&(1-0N$["21,(10#$%&''N$)C1,,1-0S.&(+"N$["#,(#2
JJJL#C1,,1-0SJ&(+"L+-C
X?
.%)$+"#-334-H"#+$"1+#@
F>?U$.&09$HN$%1,$%$["&09$<$#($&'L$/0*'=#0+#$-*$,(&2(S=5$-0$Q[BBo]$#C1,,1-0$-*$10+10#2&(-2,L
["#C-,5"#2#N$>??Xc$YXA$EF3YSGF
F>EU$B#$]2#$&0;$.#I#2,L$_0;#2#,(1C&(1-0$-*$B1-O10$#C1,,1-0$10I#0(-21#,LEbb@A$\29&0-"&'-9#0$
[-C5-=0;,$FYAEXS>?
F>>U$]&2'&0;$.N$H-2K#2$:N$['#I#'8$BL$.!/$7+2##0109$'#I#'$&0&'8,1,L$.&,"109(-0$B[A$_7$
)0I12-0C#0(&'$Q2-(#+(1-0$D9#0+8$\**1+#$-*$4#,#&2+"$&0;$B#I#'-5C#0(N$]#K2=&28$bN$EbbFL
F>FU$$.&(#,$<L$!"#$R-0Sk-I#20C#0(&'$\29&01W&(1-0$&0;$:&0&9#C#0($-*$%&W&2;-=,$.&,(#$10$
/2#'&0;N$Ebb3N$)&2("J&(+"N$)=2-5#&0$)0I12-0C#0(&'$6=2#&=
.%)$+"#-374-L+&M-S&&%&&/%#$
F>3U$D''#I&$)N$62-+P$<N$62-=J#2$D$#($&'L$7(&(#C#0($*2-C$("#$J-2P$,#,,1-0$-0$#0I12-0C#0(&'$
#0;-+210#S;1,2=5(109$+"#C1+&',A$R#=2&'N$#0;-+210#$&0;$K#"&I1-=2&'$#**#+(,L$)21+#N$/(&'8A$
)((-2#$:&M-2&0&$[#0(2#$*-2$7+1#0(1*1+$[='(=2#N$EbbGL
F>GU$R&(1-0&'$4#,#&2+"$[-=0+1'$TR4[UL$!-O1+1(8$!#,(109A$7(2&(#91#,$(-$B#(#2C10#$R##;,$&0;$
Q21-21(1#,$TEb@3UN$R&(1-0&'$D+&;#C8$Q2#,,N$.&,"109(-0N$BL[L$
F>YU$:--2#$[]L$71'#0($7+-=29#A$["1';2#0N$Q-''=(1-0$&0;$."8$7+1#0(1,(,$B1,&92##L$\O*-2;$
_01I#2,1(8$Q2#,,N$>??FN$\O*-2;
F>XU$6-,(-+P$DL$.&,(#$/0+10#2&(1-0$&0;$1(,$/C5&+($=5-0$%#&'("N$("#$)0I12-0C#0($&0;$
7=,(&10&K1'1(8N$>??GN$D+2-$H-91+
F>@U$7+"#(('#2$!N$7-'-C-0$kN$d&'#0(1$:$&0;$%=;;'#$DL$k#0#2&(1-0,$&($41,PA$4#52-;=+(1I#$%#&'("$
&0;$("#$)0I12-0C#0(N$EbbbN$:/!$Q2#,,N$[&CK21;9#N$:&,,&+"=,#((,N$w$H-0;-0L
.%)$+"#-3E4-L%)"//%#60$+"#&
F>bU$]21#0;,$-*$("#$)&2("$621#*109L$$/0+10#2&(-2,$&0;$B#521I&(1-0N$<&0$>??3L
%9:-,(%#&!,)$'%,(%#$("%#8#,$#+$'%#(%#%+"";$'!<%="&%#%)"05%0$'#('%)"*!#)!%>?@AB
XE