!
!
"##$%&'()* +$ $#&%'+* ',%$#$-&'+' '* %*.%'/'
+$ 0#1!%'+2'()* $/ #&2+*# "&$%3%"*# +'
'425+'+$ +$ "6-4"'# $ $&%'# -$#,7
%'%'82'%'94*/*%$82"#"&*,'%'*:&$-()*+*&;&25*
+$$#&%$$/"&$%'&2%'
" # $% & '(
%# )%)"%
*%
#
!
"##$%&'()*+$$#&%'+*9',%$#$-&'+''*%*.%'/'
+$ 0# $/ #&2+*# "&$%3%"*# +' '425+'+$ +$
"6-4"'# $ $&%'# 7%'%'82'%'9 4*/*
%$82"#"&* ,'%' *:&$-()* +* &;&25* +$ $#&%$ $/
"&$%'&2%'
" # $% '(
%# )%)"%
*%
#
'&'+'+$<$#'= 7>7?
)!)*)'!'$!*'!+)'#
%#%,-- )%)"%
'425+'+$+$"6-4"'#$$&%'#+$%'%'82'%'
).%$
#
%,--/
)0%)
'425+'+$+$"6-4"'#$$&%'#+$%'%'82'%'
).%$
#
%,--'%/
-#&"&2&*+$"*4"6-4"'#9$&%'#$"6-4"'#@'&'#+$)**#A+*"*
%$&*
%
-"B$%#"+'+$#&'+2'5'25"#&'
'425+'+$+$"6-4"'#$$&%'#
'!1
$+"4*$#&$&%':'5C*'*/$2,'"82$/$$-#"-*2''/'%*#5"B%*#
!)!'$
D/"-C'/)$'%"'$E/"-C'"%/)!"5/'%',$5*'/*%$"-4$-&"B*F
D /"-C' *%"$-&'+*%' !2'4"%' ,$5' '&$-()* $ ,$5*# 4*-#$5C*# 82$ &*%-'%'/ ,*##;B$5 '
4*-4%$&"G'()*+$#&$&%':'5C*
D# ,%*<$##*%'# *%/' H"//$% $ H"5/' '&%"4"' ''# 82$ 4*/ #2'# *:#$%B'(I$#
4*-&%":2;%'/,'%'*#$2',$%<$"(*'/$-&*F
D#/"-C'#'/".'#'%"'-'$'%"'5'%'82$/$"-<52$-4"'%'/4*/#$2#$@$/,5*#+$$#&2+*
$,$#82"#'F
D#/"-C'#'/".'#-.$5'$
'"'-$,*%/$'4*5C$%$/$/#2'4'#'&*+'#'#B$G$#82$,%$4"#$"
+$':%".*$/%'%'82'%'F
*%2-*,$5*4*/,'-C$"%"#/*$,$5*4'%"-C*-*#/*/$-&*#+$&$-#)*$+$#J-"/*F
D',$#,$5*',*"*<"-'-4$"%*
82$ 4*-BA/ #2:5"-C'% A 82$ ' ,%*#' -'%%'&"B'9 $#,$4"'5/$-&$ *
%*/'-4$9 *42,*29 -'# #*4"$+'+$# /*+$%-'#9 * 52.'% +' %$4"&'()* +*#
/"&*# $ +*# 4*-&*# -'# #*4"$+'+$# &%'+"4"*-'"# $ ,*,25'%$# '"#
'"-+'9 A ,*##;B$5 +$#&'4'% ' $#&%2&2%' K/;&"4'L +$ 4$%&*# %*/'-4$#
/*+$%-*#9A,*##;B$5+$/*-#&%'%'#*:%$B"B6-4"'5"&$%3%"'+*#.%'-+$#
&$/'#$+'#,$%#*-'.$-#/"&*50."4'#M
9= ? 9,=N O
!)
%$&*/'+' +* /"&* +$ *:"-#*- %2#*$ ,$5* '2&*% <%'-46# "4C$5 *2%-"$% A 2/ +*#
"-&$%&$@&*# /'"# %"4*# +' 5"&$%'&2%' 4*-&$/,*%J-$' !
%$4*-&''C"#&0%"'+*-32<%'.*"-.56#','%&"%+'0&"4'+*/"&*$+'<"5*#*<"'&%'P$&0%"'+*
C$%0"*%"$-&'1#$,$5'50."4'+*#%"&*#+$"-"4"'()*,%"/"&"B*#9%$4*%%$-+*'2/'B'%"'+'.'/'
+$ #;/:*5*# *:P$&"B* ,%"-4",'5 +$#&$ &%':'5C* A '-'5"#'% -' *:%' * +$#$-B*5B"/$-&*
-'%%'&"B* +* ,%*4$##* +$ $B*52()* +' ,$%#*-'.$/ '&%'BA# +* $#&2+* +$ #2' 4*/,*#"()*
$#&%2&2%'5 $ &$/3&"4' $##$ "-&2"&*9 * &%':'5C* +"B"+$1#$ $/ 4"-4* ,'%&$# ,%"-4",'"# ,%"-4;,"* $#&':$5$4$1#$ 2/' '-35"#$ 4*/,'%'&"B' $-&%$ $ * 5"B%* # B$-&2%'# +$
*:"-#*-%2#*$9+$
'-"$5
$<*$9#$2"-&$%&$@&*"-#,"%'+*%$#&2+*+*$-%$+*9+*$#,'(*9
+*&$/,*$+',$%#*-'.$/$@&'1$"%'4*/,I$',%"/$"%','%&$&$@&*+$*2%-"$%4C'/''
'&$-()* ,$5' #2' 4','4"+'+$ +$ "-*B'% $/ &*+*# $#&$# '#,$4&*#9 #$/9 4*-&2+*9 ,$%+$% #2'
%$<$%6-4"' '* &$@&* *%"."-'5 #$.2"%9 C3 2/ $@'/$9 &'/:A/ 4*/,'%'&"B*9 +' &$/3&"4' +*
"-+"B"+2'5"#/*/*+$%-*9,%$#$-&$-*#+*"#&$@&*#/'$@,*#"()*#24"-&'+*4*-&$@&*#*4"'5
%$<$%$-&$'*,$%;*+*+$$5':*%'()*+'#*:%'#"-&$.%'$#&'#$.2-+','%&$<*4*,%"-4",'5+$#&'
'-35"#$ A ' ,$%#*-'.$/ *:"-#*- %2#*$ *&'1#$ 2/' /2+'-(' %'+"4'5 +* ,'%'+"./' +$
"-+"B"+2'5"#/* -*# #A425*# Q $ -* #A425* QQ ,'%&"% +' &$%4$"%' ,'%&$9 * &%':'5C*
+$+"4'1#$$@452#"B'/$-&$'*5"B%*+$*2%-"$%3 2/ 82$#&"*-'/$-&* #*:%$ * ,*&$-4"'5 +$
,'%' 4*/,*% * 4*-P2-&* +$ *:%'# 5"&$%3%"'# 45'##"<"4'+'# 4*/* ,0#1/*+$%-'# $#4%"&2%'+$*2%-"$%9','%$-&$/$-&$#"/,5"#&'$&%'+"4"*-'59#2%,%$$-+$,*%/$"*+'&A4-"4'
+* %$+*:%'/$-&* $/ &*+'# '# "-#&J-4"'#9 #$P' $#&%2&2%'59 #$P' &$/3&"4'9 #$P' -'%%'&"B' 5A/
+"##*9'*:%'':%$'+"#42##)*#*:%$*,',$5+*C*/$/,%"/"&"B*-'B"+'+*C*/$//*+$%-*9
'&%'BA#+'4%;&"4'$+'#2:B$%#)*,%"/"&"B"#/*A9'5"3#92/+*#/'"#"/,*%&'-&$#'##2-&*#
':*%+'+*# -' C"#&0%"' ,'%&$ 82'&%* &%'&' $@'&'/$-&$ +'# 4*-4$,(I$#9 +*# %"&*# $ +*#
#;/:*5*# ,%"/"&"B*#9 &)* ,%$#$-&$# $/ 9 '##"/ 4*/* +$ '5.2-# *2&%*# #;/:*5*# $
/"&*# 82$ <'G$/ ,'%&$ +* "/'."-3%"* 2-"B$%#'5 *% <"/9 ' 82"-&' ,'%&$ +* &%':'5C* :2#4'
+$#B$5'%'#,'##'.$-##"/:05"4'#9'##*4"'+'#'*#%"&*#+$"-"4"'()*,%"/"&"B*#4*/*,*-&*+$
,'%&"+','%''4*-#&%2()*+'&%'P$&0%"'+',$%#*-'.$/##"/9':*%+'/1#$+"<$%$-&$#<'4$#+*
/"&*+$*:"-#*-%2#*$9$/#2'B$%#)*4*-&$/,*%J-$'9:2#4'-+*$#:*('%2/'4*/,%$$-#)*
+$#2'"/,*%&J-4"'-'5"&$%'&2%''&2'5
( 1 "(# *:"-#*- %2#*$ "4C$5 *2%-"$% "&* %"/"&"B"#/*
-+"B"+2'5"#/*
2)2
' %$,%"#$ +2 /R&C$ +$ *:"-#*- %2#*$ ,'% 5S'2&$2% <%'-('"# "4C$5 *2%-"$% $#& 5S2- +$#
"-&$%&$@&$# 5$# ,52# %"4C$# +$ 5' 5"&&A%'&2%$ 4*-&$/,*%'"-$ $-+%$+" *2 $# "/:$# +2
'4"<"82$ %'4*-&$ 5SC"#&*"%$ +2 -'2<%'.A '-.5'"# +'-# 5' ,$%#,$4&"B$ +2 /R&C$ $& +$ 5'
,C"5*#*,C"$'&%'P$4&*"%$+2CA%*#$#&.2"+A$,'%5'5*."82$+$#%"&$#,%"/"&"<#+S"-"&"'&"*-9$-
2&"5"#'-&2-5'%.$AB$-&'"5+$#R/:*5$#L*:P$4&"<,%"-4",'5+$4$&&$A&2+$$#&+S'-'5R#$%+'-#
5$ %A4"& 5$ +AB$5*,,$/$-& +$ 5SAB*52&"*- +2 ,$%#*--'.$ E &%'B$%# 5SA&2+$ +$ #' 4*/,*#"&"*-
#&%24&2%$55$$&&CA/'&"82$D4$&&$<"-95$&%'B'"5$#&+"B"#A$-4"-8,'%&"$#,%"-4",'5$#
L':*%+9
"5 #LA&':5"& 2-$ '-'5R#$ 4*/,'%'&"B$ $-&%$ $-+%$+" $& 5$ 5"B%$ $# B$-&2%$# +$ *:"-#*-
%2#*A9 +$ '-"$5 $<*$9 #*- "-&$%&$@&$ "-#,"%'&$2% SA&2+$ +$ 5L"-&%".2$9 +$ 5S$#,'4$9 +2
&$/,# $& +2 ,$%#*--'.$ $-+%$+" 4*/,*#$ 5' ,%$/"T%$ ,'%&"$ $ &$@&$ +$ *2%-"$% ' '&&"%A
5S'&&$-&"*-,*2%#'4','4"&AE"--*B$%+'-#&*2#4$#'#,$4&#9#'-#,$%+%$4$,$-+'-&#'%A<A%$-4$
'2 &$@&$ *%"."-'5 -#2"&$ "5 R ' 2- $@'/$-9 A.'5$/$-& 4*/,'%'&"<9 +$ 5' &CT/'&"82$ +$
5S"-+"B"+2'5"#/$ /*+$%-$9 ,%A#$-&$ +'-# 5$# +$2@ &$@&$# - %A#2/A +2 4*-&$@&$ #*4"'5
4*-4$%-'-& 5' ,A%"*+$ +$ 5' ,%A,'%'&"*- +$# U2B%$# 4*/,%$-+ 5' +$2@"T/$ ,'%&"$ ' 4":5$
,%"-4",'5$ +$ 4$&&$ '-'5R#$ $#& 5$ ,$%#*--'.$ *:"-#*- %2#*$ - *:#$%B$ 2- 4C'-.$/$-&
%'+"4'5+'-#5$,'%'+"./$+$5S"-+"B"+2'5"#/$+'-#5$Q$ $&5$QQ$#"T45$D,'%&"%+$5'
&%*"#"T/$,'%&"$95$&%'B'"5#$4*-#'4%$$@452#"B$/$-&'25"B%$+$*2%-"$%5R'2-$/"#$$-
82$#&"*- #2% 5$ ,*&$-&"$5 +$ $-+%$+" ,*2% 4*/,*#$% 5S$-#$/:5$ +$# U2B%$# 5"&&A%'"%$#
-*//A$#,*#&/*+$%-$#SA4%"&2%$+$*2%-"$%9',,'%$//$-&#"/,5"#&$$&&%'+"&"*--$55$9$55$
#2%,%$-+,'%5'&$4C-"82$+$%$+*2:5$%+'-#&*2#5$#-"B$'2@9#*"&#&%24&2%$59#*"&&CA/'&"82$#9
#*"&-'%%'&"<-*2&%$95$&%'B'"5*2B%$5'+"#42##"*-#2%5$%V5$+$5SC*//$,%"/"&"<+'-#5'B"$
+$ 5SC*//$ /*+$%-$9 E &%'B$%# 5' 4%"&"82$ $& 5' #2:B$%#"*- $ ,%"/"&"B"#/$ $#&9 +L'"55$2%#9
5S2-$ +$# 82$#&"*-# 5$# ,52# "/,*%&'-&$# ':*%+A$# +'-# 5$ %A4"& ' ,'%&"$ 82'&%$ &%'"&$
$@'4&$/$-&5$#4*-4$,&"*-#95$#%"&$#$&5$##R/:*5$#,%"/"&"<#9#"%$/'%82':5$#+'-#$-+%$+"9
'"-#"82$+S'2&%$##R/:*5$#$&+$#/R&C$#82"<*-&,'%&"$+$5S"/'."-'"%$2-"B$%#$5-<"-95'
4"-82"T/$ ,'%&"$ +2 &%'B'"5 4C$%4C$ E +AB*"5$% 5$# ,'##'.$# #R/:*5"82$#9 '##*4"A# '2@ %"&$#
,%"/"&"<# +S"-"&"'&"*-9 4*//$ ,*"-& +$ +A,'%& ,*2% 5' 4*-#&%24&"*- +$ 5' &%'P$4&*"%$ +2
,$%#*--'.$ "-#"9 *- ':*%+$ +$# '#,$4&# +"<<A%$-&# +2 /R&C$ +$ *:"-#*- %2#*$9 +'-# #'
B$%#"*- 4*-&$/,*%'"-$9 $##'R'-& +LA:'24C$% 5' 4*/,%AC$-#"*- +$ #*- "/,*%&'-4$ +'-# 5'
5"&&A%'&2%$'4&2$55$
)%
3# *:"-#*- %2#*$ "4C$5 *2%-"$% $-+%$+" R&C$ %"/"&"B"#/$
-+"B"+2'5"#/$
)4
5'$67 =
8!!'!'$!!' !!'$!'!!!'
)*!)9!$'! =W
8-5!% =X
8-8!:% =
8-;$% X
8-<%=#> >=
Y=$-+%$+"@
"*-"#* >N
Y==+$2#+*#B$.$&'"# >W
Y=+$2#+'/Z#"4'$+'+'-(' >X
Y=>+$2#+'#4*-&%'+"(I$# >?
Y=Y+$2#-V/'+$ Y=
Y=N+$2#%$P2B$-$#4$+*% Y
;*''!!)$') YY
;-5(
"%%%(%%.%% YY
;-8%.%%%%%(
%.= Y ;-;'%((%% NN
;-<%.%%%%%(
%%%%? N?
<$'!!'$@)!' W>
<-5%.%(%0( WN
<-8% WX
Y="-#$%()*+*+"#42%#*4"$-&;<"4* W?
<-;%:A%#>
W B)$')$ X>
B-5(% XY
B-8&.%
%A% XW
B-;%
X?
B-<%:A%%%%%%%=C% X B-B&.%
%#%(A% ?>
B-D&.%
%E=
F#%
% ?N
B-G>
%= ?W
D!'$!*''! ? D-5,H% ? D-8)=% =
W=',;&25* >
W',;&25* W
D-;% W>=',;&25* ==
W>',;&25* =Y
D-<! =X
WY=',;&25* =?
WY',;&25* ===
D-B!
%!%% ==
WN=',;&25* ==>
D-D%% ==Y
WW=',;&25* ==N
D-G!,%%%.% ==?
WX=',;&25*Q == D-I%
=>
W?=',;&25*Q =Y
D-J)% =N
W =',;&25*Q =W
D-5K)% =?
W==',;&25*Q =?
X'!6L!' =>
!!M' =>>
=
5'$67
,'%&"%+*#A425*Q9$-&%'$/4$-'2/'-*B'<*%/'5"&$%3%"'%$,%$#$-&'&"B'+*#
B'5*%$# +' $/$%.$-&$ #*4"$+'+$ :2%.2$#' / #4$-#)* +* */'-4$9 '- H'&& M=
O
'<"%/'82$'<*%/'A/'%4'+',$5*"-+"B"+2'5"#/*$,$5':2#4'4*-#&'-&$+$'<"%/'()*$/2/
/2-+*+$$#&%2&2%'#<%3.$"#':'5'+'#,*%/2+'-('#4*-#&'-&$#$%$,$-&"-'#9&%'G"+'#-*:*P*
+' %$B*52()* "-+2#&%"'5 $ +* /*+* +$ ,%*+2()* 4',"&'5"#&'9 /*+$5* +$ +$#$-B*5B"/$-&*
,%$+*/"-'-&$+'A,*4'
##'-*B'<*%/'5"&$%3%"'A*%*/'-4$'#$'+*-*"+$'5+$%$,%$#$-&'()* %$'5"#&'9*
%*/'-4$9-*##A425*#Q$QQ9&"-C',*%/*+$5**/*+*+$B"+':2%.26#$G$5'B',$5'
+$#4%"()* /"-24"*#' +* '/:"$-&$ */,"'9 +$##$ /*+*9 4*/ ' &%'+"4"*-'5 -'%%'&"B' A,"4'9
"-#,"%'+'-'#<*-&$#5"&$%3%"'#+*,'##'+*
/+*#,%$42%#*%$#+$##'"-*B'()*<*"
'-"$5
$<*$/=X= 9$#4%$B$2'C"#&0%"'+$
*:"-#*- %2#*$=9 82$ <*" $ 4*-&"-2' #$-+* 2/ .%'-+$ #24$##* +$ ,Z:5"4* ,$#'% +'#
/2"&'#4%;&"4'#'*-*B*.6-$%*9-'*4'#")*+$#$2#2%."/$-&*9*%*/'-4$+$
$<*$4*-#&"&2"29
#$.2-+*H'&&92/+*#.%'-+$#/"&*#+*"-+"B"+2'5"#/*:2%.26#$+'#*4"$+'+$/*+$%-'
*:%'&*%-'B'*/*+$5*$4*-V/"4*+'A,*4''5.*<'#4"-'-&$$$-*:%$4$+*%9+".-*+$4*/,*%
'#<'('-C'#+$2/C$%0"
#24$##* 4*-82"#&'+* ,$5* %*/'-4$ +* #A425* Q $B"+$-4"' ' -$4$##"+'+$ +'#
#*4"$+'+$# +$ '2&*'<"%/'()*9 #$P' #*4"'59 425&2%'5 *2 ,*5"&"4'/$-&$ / &*+'# '# "+'+$# '
45'##$#*4"'5*2"-&$5$4&2'5+*/"-'-&$&$-+$',%*P$&'%#$2#"+$'"#-'5.2/'<*%/'+$C"#&0%"'
%*/'-$#4' M[9 = NX9 , =?NO #*4"$+'+$ :2%.2$#'9 82$ 4*/$(*2 ' #$ 4*-#*5"+'% '
,'%&"% +* $-'#4"/$-&*9 &$B$ -* %*/'-4$ :2%.26# * 4*-P2-&* +$ #2'# '#,"%'(I$# $ B'5*%$#
%$<5$&"+*
$9'##"/9E82$5'#*4"$+'+$$%',%$4"#*2%.$-&$/$-&$'%$-*B'()*+'5"&$%'&2%'9'<"/
+$%$,%$#$-&315'$'*##$2#B'5*%$#9*/$#/*'4*-&$4$4*/'#*4"$+'+$4*-&$/,*%J-$'*P$9
#2%.$/-*B*#/*+$5*#-'%%'&"B*#9-*B*#&$/'#9-*B'#<*%/'#9-*B*#/"&*#9/'"#4*-+"G$-&$#
4*/*,$-#'/$-&*+*C*/$/+*##A425*#QQ$QQ
"4C$5 *2%-"$%9 '2&*% <%'-46#9 4*-&$/,*%J-$*9 ,%$/"'+* ,$5' '4'+$/"' <%'-4$#'9
%$$#4%$B$2$/= WX'C"#&0%"'+$*:"-#*-%2#*$#*:2/',$%#,$4&"B'&*&'5/$-&$+"B$%#'+'
=
&;&25**%"."-'5+'*:%'+$
$<*$A"# $%&%'$ ()*
+,#-'%#$",$.(*---#$-$#$ *$#
$# $#/$' !01'%$#.#&,)*,#--$#&#
$#- 23$#$#,#,$-$$%-.-'4.$23$$.1- 2
==
*%"."-'5 ! %*/,$ 4*/ * /*+$5* &%'+"4"*-'5 +*
"-+"B"+2'5"#/* :2%.26# $ "-#$%$ 2/' %$-*B'()* +* /"&* '&%'BA# +' %$,%$#$-&'()* +$ 2/
"-+"B"+2'5"#/* /*+"<"4'+* -' #*4"$+'+$ +* #A425* QQ9 2/' -*B' B"#)* 82$ * "-+"B;+2*
4*-&$/,*%J-$*&$/+$#",%0,%"*$+*/2-+*'*#$2%$+*%
*:%' '4"/' 4"&'+' A &*/'+' '82" 4*/* *:P$&* +$ $#&2+* ,%"-4",'5 *:P$&"B* A
$#45'%$4$% +$ 82$ <*%/' * /"&* +$ *:"-#*- %2#*$ "-#$%$1#$ -' -'%%'&"B' 4*-&$/,*%J-$'
'&%'BA# +' *:%' +$ "4C$5 *2%-"$%9 &$-+* 4*/* <*4* ,%"-4",'5 ' $B*52()* #*<%"+' ,$5'
,$%#*-'.$/*:"-#*-%2#*$
#&$ &%':'5C* A * ,'##* #$.2"-&$ +$ 2/ $#&3."* +$,'%&'/$-&'5 "-"4"'+* $/ /'%(* +$
W9 +$ -;B$5 +$ .%'+2'()*9 P2-&* '* $,'%&'/$-&* +$ $&%'# *+$%-'#9 +' '425+'+$ +$
"6-4"'# $ $&%'#9 +' -"B$%#"+'+$ #&'+2'5 '25"#&'9 -* 4J/,2# +' 4"+'+$ +$ %'%'82'%'9
*%"$-&'+*,$5'%*<\
%\!2'4"%''%4*-+$#'4C'+*$"&$
$#&3."* <*" "-"4"'+* +$B"+* ' 2/ .%'-+$ "-&$%$##$ $/ $#&2+'% 2/ '2&*%
4*-&$/,*%J-$*9 ,%$<$%$-4"'5/$-&$ <%'-40<*-*9 ,%*+2&*% +$ 2/' -'%%'&"B' /*+$%-' $
"-*B'+*%'9*-+$/"&*$<"5*#*<"'#$$-&%$5'('##$/9-'':*%+'.$/+$&$/'#2-"B$%#'"#'2&*%
$#4*5C"+*9 "4C$5 *2%-"$%9 -)* #*/$-&$ $#&3 B"B*9 4*/* $#4%$B$ $ ,2:5"4' '"-+'
%$.25'%/$-&$9 * 82$ * <'G -)* ',$-'# 4*-&$/,*%J-$* +' A,*4' $/ 82$ B"B$/*#9 /'#9
&'/:A/94*-&$/,*%J-$*+$-*##'#B"+'#
*2%-"$% 4*-#$.2"2 '&%":2"% E C"#&0%"' +$ *:"-#*- %2#*$ 2/' ,$%#,$4&"B'
"-4*/,'%'B$5/$-&$-*B'6-<'#$+'*:%'%$4'"#*:%$',$%#*-'.$/$-+%$+"$*4*-P2-&*
+$B'5*%$#,%$.'+*'4*%+'4*/*,$-#'/$-&*,%"/"&"B*4"B"5"G'()*9*/*+*+$,%*+2()*
4',"&'5"#&'$'#*4"$+'+$:2%.2$#'9<2-+'/$-&*#:3#"4*#+',%"/$"%'B$%#)*+*/"&*9'##2/$/
,',A"#'-&'.V-"4*#-'#/)*#+*'2&*%<%'-46#$.2-+*$5$,%0,%"*9,*%"'2/<"/'
&*+'%$$#4%"&2%'82$#$<'G"'+'*:%'+$
$<*$9+'+''#2'.%'-+$G'
2 $#4*5C* $##$ '##2-&* $ * &%'&* +' /"-C' /'-$"%'9 /'# 4*/ 2/' "+$"'
4*/,5$&'/$-&$ /$.'5V/'-' -' 4':$('9 ' +$ 82$ $2 82$%* ,V% <"/ ' $##$
'##2-&*9,'%'82$$5$-2-4'/'"#B*5&$9,'%'82$$5$#$P'&)*:$/&%'&'+*82$
$#&$P' 4*-452;+* ]^_ 2 $#4*5C" $-+%$+" A *:"-#*- %2#*$ $ $#&3
'4':'+* *" ,2:5"4'+* $/ WX9 $ -)* /'"# #$ <'5*29 -)* /'"# #$ B"2
%*:"-#*-'+'#M9= 19&%'+2()*-*##'O
5&6$$6-$$7 8*'9$$7 $9%--$:$*;$!
6'< '6$*!;;.'&-*!;-$$$9$--$!;$ 2=>?5;&
+ ;$ $ ;$ 2 @ & AB* $ ; &- &-9* ; &- ' 2M9= 1O
=
'B$%+'+$9#2%."%'/*2&%'#-'%%'&"B'#',0#= WX:'#$'+'#-'B"+'+*-32<%'.*9/'#
-$-C2/'+$5'#&$B$+$#&'82$4*/,'%3B$5'*+'*:%'+$*2%-"$%
/"&* +$ *:"-#*- %2#*$9 #$P' 4*-&'+* '&%'BA# +'# ,'5'B%'# +$ $<*$ *2 +$
*2%-"$%9 &$/ $-*%/$ ',$5* -' /$-&'5"+'+$ +' #*4"$+'+$ 4*-&$/,*%J-$'9 $-B*5B"+' ' &*+*
"-#&'-&$ ,$5*# 4*-<5"&*# '<5*%'+*# ,$5' #*5"+)*9 *2 /'"# '"-+'9 ,$5* "#*5'/$-&* +* 4*-B;B"*
#*4"'59 '&%$5'+* E# 4*-&%'+"(I$# +* #$-&"/$-&* C2/'-* $ E *,*#"()* $-&%$ #$% #*4"'5 $
"-+"B;+2*
$/*+*.$%'592/'C"#&0%"'A4C'/'+'+$/"&*82'-+*.2'%+'$/#"2/#".-"<"4'+*
"/,5;4"&* #"/:05"4* 82$ $@,5"82$ '5.* +' %$'5"+'+$ ##' %$'5"+'+$ ,*+$ #$ %$<$%"% '
'4*-&$4"/$-&*# %$5'4"*-'+*# ' 2/ +$&$%/"-'+* ,*B* *2 425&2%' *2 E# B$%+'+$# 2-"B$%#'"#
M4%"'()* +* /2-+*9 <$-V/$-*# +' -'&2%$G'9 %$5'(I$# C2/'-'#O $.2-+* * C"#&*%"'+*% +$
%$5"."I$# "%4$' 5"'+$ M= ? 9 , =Y1=NO ' <2-()* #*:$%'-' +* /"&* A %$B$5'% *# /*+$5*#
$@$/,5'%$# +$ &*+*# *# %"&*# $ +$ &*+'# '# '&"B"+'+$# C2/'-'# #".-"<"4'&"B'# &'-&* '
'5"/$-&'()*4*/**4'#'/$-&*9*&%':'5C*9'$+24'()*9''%&$*2'#':$+*%"'
/"&* +$<"-$1#$ ,*% #$2 /*+* +$ #$% $5$ ',$-'# #$ +$"@' &*/'% -'
82'5"+'+$+$/"&*E/$+"+'82$%$B$5'82$'5.*A
%7,%9$$##'
/'-"<$#&'()*A'*/$#/*&$/,*%>
9P382$$5'"-'2.2%'
&'-&*2/'$#&%2&2%'+*%$'54*/*2/4*/,*%&'/$-&*C2/'-*]^_#/"&*#
%$B$5'/ '# $#&%2&2%'# +* %$'5 $ *# /Z5&",5*# /*+*# +$ #$% -* /2-+*>
M
9= NX9,=>9.%"<*#+*'2&*%9&%'+2()*-*##'O
#$-&"+*+$/"&*'+*&'+*-$#&$&%':'5C*$#&3+$'4*%+*4*/'+$<"-"()*'4"/'9&'-&*
82'-&*'*5"B%*+$
$<*$82'-&*'*+$*2%-"$%#+2'#*:%'##)*'82"4*-#"+$%'+'#4*/*
/"&*# ,$5' #2' 4','4"+'+$ +$ %$<5$&"% $ $@,5"4'% '5.2-# &%'(*# +' %$'5"+'+$ $ +*
4*/,*%&'/$-&*C2/'-*
&%":2"-+*1#$E-'%%'&"B'+$
'-"$5
$<*$*$#&'&2&*+$/"&*94*/,'%&"5C'1#$&'/:A/
+'4*-4$,()*+$'-H'&&M=
XO*:"-#*-%2#*$A2//"&*+*"-+"B"+2'5"#/*/*+$%-*
2#$P'9'#'(I$#+$*:"-#*-#)*%$,%$#$-&'(I$#+*/*+$5*$4*-V/"4*$#*4"'5+*/"-'-&$
-* #A425* Q #$2 4*/,*%&'/$-&* %$B$5' B'5*%$# %$5"."*#*# $ 4*-+2&'# /*%'"#
4*-+"G$-&$#4*/*/*+*+$B"+':2%.26#*%A/9',$-'##$%/*+$5'%-)*A/*&"B*#2<"4"$-&$
>
.$# 9 $ & ;:$+ - - $$ ! .$# ! - C -
9'D- ! !-! # ;$ E * $ $$ $$ $ 7 - *
&!;-- $$ 9- !; &$$ #2 =>? .$# 9'D-$ -
$$9-$--$&-;:$-2M
9= NX9,=>9.%"<*+*'2&*%O
=>
,'%'45'##"<"4'%82'582$%*:%'4*/*/"&*"/,*%&J-4"'+'*:%'94*/*/"&*9A*<'&*+$#$%
2/ %
% >
+$ 2/ /*+* +$ B"+' ,'%' 2/ C*/$/ +$ -$.04"*# &%'P$&0%"' +$
*:"-#*- %2#*$ ,*+$ #$% 4*-#"+$%'+' 4*/* * <$"&* ,%"/*%+"'59 +*&'+' +$ ,$%<$"()* $
%$B$5'+*%'+$2/'%$'5"+'+$#B'5*%$#+*"-+"B"+2'5"#/*:2%.26#P2#&"<"4'/1#$$//$"*E#
,$%",A4"'#+$#2'#'.'+".-"+'+$+*&%':'5C*$''2&*-*/"'9,*%$@$/,5*9+$"@'/+$#$%
',$-'#/*%'5"+'+$#':#&%'&'#$&*%-'/1#$4*-+"(I$#$##$-4"'"#,'%''#*:%$B"B6-4"'
$#,;%"&*/"&*50."4*A'&"-."+*9#*:%$&2+*9,$5*B'5*%#*4"'5$C"#&0%"4*+'*:%'2
#$P'9 '5.2A/ 82$ :2#4' 4*/,%$$-+$% /$5C*% * 4*/,*%&'/$-&* +' #*4"$+'+$ :2%.2$#' $ '#
:'#$#+*#$2,$-#'/$-&*,*+$:2#4'%$#&$$-&$-+"/$-&*'&%'BA#+'5$"&2%'+$#B$-&2%'#+$
*:"-#*-%2#*$#'4*-&$4"/$-&*#-'%%'+*##)*9,*%&'-&*9<"-4'+*#$/,*##":"5"+'+$#%$'"#9
',$#'%+$"-2#"&'+'#$"/,%*B3B$"#
/ *2%-"$%9 $-&%$&'-&*9 '5A/ +$ *4*%%$% 2/' %$,%$#$-&'()* +* "-+"B"+2'5"#/*9 /'#
+$##' B$G9 +' #*4"$+'+$ +* #A425* QQ9 "-4*%%$/ *2&%*# <'&*%$# 82$ %$<*%('/ * ,',$5 +$
! 4*/* /"&* 82$ #$ %$B$5' -)* A ',$-'# *
4*/,*%&'/$-&* +$ 2/' +$&$%/"-'+' #*4"$+'+$9 /'# '# #$4%$&'# $ 4*-<2#'# '#,"%'(I$# +*
C*/$/YM',2+`9= ??9,X9&%'+2()*-*##'O
5A/ +$ #$2 4'%3&$% /*+$5'%9 <'G <*%&$ ',$5* '* /2-+* #"/:05"4* ,$%#*-'.$/ A 4$%&'/$-&$ 4*-#&%2;+' 4*/ :'#$ $/ 2/ C*/$/ +* #A425* QQ '#9 *#
'4*-&$4"/$-&*# +' "5C' /2"&'# B$G$# &*/'/ 2/' +"/$-#)* #*:%$-'&2%'5 )* #$ ,*+$9
4*-&2+*9+"G$%82$$#&'/*#+"'-&$+$2/%*/'-4$<'-&3#&"4*#'4*-&$4"/$-&*#4*-+2G$/'
2/ 4*-&$Z+* #"/:05"4*9 /$#/* 4*-#$%B'-+* ,'##'.$-# +$ 4'%3&$% $@&%$/'/$-&$ %$'5"#&'9
,%"-4",'5/$-&$ 82'-&* E# +$#4%"(I$# *2%-"$% ,%$#$%B' -' -'%%'&"B' 2/' 4'%'4&$%;#&"4'
4*/2/E/'"*%,'%&$+*#/"&*#9#2'#'4%'5"+'+$
+$#$P*+$'2&*##2,$%'()*$+$'2&*##2<"4"6-4"'9':2#4'+'"/*%&'5"+'+$$',$%<$"&'
"-&$.%'()*+*C*/$/4*/*/2-+*-'&2%'5#)*&$/'#82$<'G$/+'*:%'+$*2%-"$%2//"&*
2-"B$%#'5`9'5A/+"##*9'&%'+2()*+$2/%"&*+$"-"4"'()*9$B"+$-&$-*#B3%"*##;/:*5*#$
'%82A&",*#%$4*%%$-&$#-'*:%'
%'-#,*#&*,'%'*+*/;-"*5"&$%3%"*9*/"&*.2'%+'9$/*2%-"$%9#$24'%3&$%
%$5"."*#* ]^_ ! ]^_ %$#.'&' '#
"/'.$-#'%82$&;,"4'#+'"-"4"'()*/"&*+*#.6/$*#,$%&$-4$E#%$5"."I$#
/'"# '-&".'# +' C2/'-"+'+$F * /"&* +* '-+%0."-*9/$#/* '-&$# +$ 5'&)*9
Y
-D$$ &$-;#M',2+`9= ??9,XO
=Y
&$/9 $5$ &'/:A/9 *%".$-# %$5"."*#'# ]^_ ` $##$ #$-&"+* +* #'.%'+*9
,%$#$%B'+*-*/"&*982$*+"#&"-.2$+'5$-+'NM`9= ??9 , 9
&%'+2()*-*##'O
##"/ #$ $#&':$5$4$%'/ '5.2/'# $&','# 82$ 4'%'4&$%"G'/ ' *:%' +$ *2%-"$% -)*
',$-'# ,$5' #2' '5&' 82'5"+'+$ 5"&$%3%"'9 /'# &'/:A/ ,$5*# #$2# '#,$4&*# /"&*50."4*# $
"+$*50."4*#82$5C$$/,%$#&'/'%*2,'.$/+$2//"&*4*-&$/,*%J-$*
,%$#$-&$ +"##$%&'()* "-"4"'1#$ 4*/ 2/' ':*%+'.$/ 4*/,'%'&"B' $-&%$ '# *:%'# +$
"4C$5 *2%-"$% $ '-"$5 $<*$ "4C$5 *2%-"$% 2&"5"G' ' C"#&0%"' +$ '-"$5 $<*$ -)*
',$-'#4*/*%$<$%6-4"','%'4%"'%2/-*B*$-%$+*F*'2&*%,%$&$-+$9+$4$%&'<*%/'94*%%"."%
'5.2/'# "-4*$%6-4"'# 82$ &*/'%'/ B25&* 4*/ ' ,'##'.$/ +* &$/,*9 4*/* * &%'&'/$-&*
+"#,$-#'+* ' $@&'1$"%'W *2 ' ,*:%$G' "-&$%"*% +$ *:"-#*- $ #2' &*&'5 "-#$-#":"5"+'+$ '
82'582$% /2+'-(' +$,*"# +$ &'-&*# '-*# +$ "#*5'/$-&* ,%0,%"* *2%-"$% '<"%/' 82$%$%
<'G$%2/'4*%%$()*-'*:%'+$
$<*$$.2-+**'2&*%
* 4'#* +* *:"-#*- +$ $<*$9 ,%*+2G"21#$ 2/ <$-V/$-* 42%"*#* 5$
,2:5"4' #$2 5"B%* $/ =X= / =XW9 *2##$'2 4*-#'.%'15C$ +2'# ,3."-'#
$-&2#"'#&'# -* /;5"* "#9 $#4%$B$ $5$9 $/ #2:#&J-4"'9 * Z-"4* 5"B%* +$
$+24'()*%$4*/$-+3B$5
'/$-&3B$59 ,*:%$ *2##$'2 82$ '4%$+"&'B' $-4*-&%'% $/ *:"-#*- 2/
$4* +$ #$2 ,%0,%"* ,$-#'/$-&*a *+$1#$ "/'."-'% 5"B%* /'"#
'-&"%%*2##$'2-"'-*b"#2/C*/$/82$+$#$/:'%4'$/2/'"5C'+$#$%&'9'
$-@*B'5C'$'+$#-'&2%'982$$-4*-&%'M:*-#O#$5B'.$-#$*# /'##'4%'982$
#'5B'-+* 2/9 -'+' +$ /'"# 2%.$-&$ <'G 82$ * ,$%B$%&$% $ 5C$ $-#"-'%^ '
4"B"5"G'()*`+$4%$%82$$'-1'482$#-)*&$-C'5"+*
$<*$a
282"#4*%%"."%*4*-&%'##$-#*9$#4%$B$%2/*:"-#*-%*2##$'2-"'-*
';'
%$5'()* "-B$%#' +'# ,$%#*-'.$-#^ )* A /'"# *:"-#*- 82$ $-#"-' '
X
$-+%$+" /'# $-+%$+" 82$ $+24' *:"-#*- M ',2+
`9= ??9,W9&%'+2()*-*##'O
N
"&9--$$9*-.$#%*#F"*$D-%<2=>?
- ! =>? $' G- % #9$.&- -;$$;2 .$# 6<
&&$$<-%-&--;#$90-.$#-;%.*&-7-$**-*
% -%2 =>? ;$ 9* &'9 - .$#* ! - $% - -9%2
M`9= ??9, O
W
$#&$&%':'5C*9,'%'$B"&'%+$#$-&$-+"/$-&*#9'*<'G$%1#$%$<$%6-4"''*"-+;.$-'82$'4*/,'-C'*:"-#*-$/
,'%&$+$#2'#'B$-&2%'#9*,&*21#$,*%4C'/'%15C$$-+%$+"982'-+*#$&%'&'%+'*:%'+$*2%-"$%9$9$@&'1$"%'9
-*4'#*+$
$<*$
X
-HI *-;$&$&#9D<2-&--'JBJK2
JBAL*-<&%$#$ 5L`/"5$2*9$M-*$*---'
;9$-2
19-*&'!.$$'G;9#&&&9N$M%
-' &- $M$O -7 # ! P- 9$* - -- $ - 9$* !
=N
##' /2+'-(' 4*-4$"&2'5 "/,5"4*29 5*."4'/$-&$9 $/ '5&$%'(I$# 82$ %$,$%42&$/ -)*
',$-'#-*$-%$+*9/'#$/&*+'#'#$#&%2&2%'#+'-'%%'&"B''%1#$132/''-35"#$4*/,'%'&"B'
+* $-%$+*9 +* $#,'(*9 +* &$/,* $ +' ,$%#*-'.$/ $@&'1$"%'9 '"-+' 82$ -)* /2"&*
',%*<2-+'+'9,*"#**:P$&*,%"-4",'5+*&%':'5C*-)*A*5"B%*+$
$<*$
#$.2"%9C32/''-35"#$9&'/:A/4*/,'%'&"B'9+',$%#*-'.$/*:"-#*-%2#*$$+'#
,$%#,$4&"B'# +* "-+"B"+2'5"#/* /*+$%-* -* #A425* Q $ -* #A425* QQ # +*"#
,%*&'.*-"#&'##)*4'%'4&$%"G'+*#4*/*%$<5$@*+'#'#,"%'(I$#+*"-+"B;+2*4*-&$/,*%J-$*'
4'+'2/+*#'2&*%$#*:"-#*-%2#*$82$+$<"-"''#+"%$&%"G$#+*,$-#'/$-&*-'A,*4'+$
$<*$A2/C*/$/4*/,5$&'/$-&$+"<$%$-&$+$#&$-*B**:"-#*-9/'"#4*/,5$@*$#2P$"&*'
+"B$%#'# &%'-#<*%/'(I$# / C*/$/ /'"# 4'%'4&$%"G'+* ,$5* 4$&"4"#/* $ <%2#&%'(I$# +'
#*4"$+'+$+*#A425*,'##'+*$+*-*##*+*82$'82$5$C*/$/%$,%*+2&*%+$2//*+$5*
"+$'5+'#*4"$+'+$:2%.2$#'$+$#$2/*+*+$,%*+2()*+"-J/"4'+*,%*4$##*82$5$B*2E
4*-#&"&2"()*+$"-+"B;+2*#&)*+"<$%$-&$#&'/:A/#$%3':*%+'+'
','%&$#$.2"-&$9'6-<'#$%$4'"#*:%$'5.2-#'#,$4&*#<*%/'"#82$5".'/'-'%%'&"B'
+$ *2%-"$% E# -'%%'&"B'# ,0#1/*+$%-"#&'# *:%'9 ','%$-&$/$-&$ :'#&'-&$ &%'+"4"*-'5 $
%$,%*+2&*%' +'# <*%/'# %*/'-$#4'# &%'+"4"*-'"#9 A %$,5$&' +$ $5$/$-&*# 4*/2-# '*# &$@&*#
/'"# /*+$%-*# B"#)* "-*B'+*%' 82$ *2%-"$% "-#$%$9 %$&*/'-+* 2/' *2&%' C"#&0%"' P3
4*-#'.%'+'9 ' <%'./$-&'()* +' -'%%'&"B' $/ +2'# B*G$#9 $-&%$ *2&%*# <'&*%$# #)* ,$('#
<2-+'/$-&'"# -' $#4%"&2%' ,0#1/*+$%-' +"#42##)* ,%$&$-+$ "-452"% *2%-"$% $-&%$ *#
'2&*%$#82$$#&)*+$5"-$'-+*'#:'#$#,'%'2/'%$-*B'()*+*%*/'-4$/*+$%-*
+$#&'82$ $ ' %$4*%%6-4"' '##;+2' ' B3%"*# #;/:*5*# /;&"4*#9 4'%'4&$%;#&"4' &'/:A/
+'#-'%%'&"B'#/'"#/*+$%-'#9A*&$/'+',%0@"/','%&$*2%-"$%"-&%*+2G+"B$%#*#&$/'#$
#;/:*5*#9','%&"%+*#82'"#+*&''&%'P$&0%"'+*C$%0"+$&%'-#4$-+$-&'5"+'+$$+"B"-+'+$#
/"&*#,%"/"&"B*#+$"-"4"'()*&6/'/'"*%6-<'#$*%A/9<'4"5/$-&$'5"'/1#$'$#&',%"/$"%'
4'&$.*%"'/"&*#+*#+$2#$#.%$.*#9/"&*#:;:5"4*#$'#"/:05"4'+*&'%V
Z5&"/','%&$<*4'5"G''-'&2%$G'+'$B*52()*,$5'82'5*:"-#*-,'##'$#&2+*+*
+$#$-B*5B"/$-&*-'%%'&"B*'5"'+*E'-35"#$,%AB"'+*#*2&%*#$5$/$-&*#4*/,*-$-&$#+'*:%'
,$%/"&"2 +$#&'4'% '5.2-# <'&*%$# /'"# %$5$B'-&$# ,'%' ' <*%/'()* +$ 2/ "-+"B;+2* +"<$%$-&$
-)* #0 +* *:"-#*- *%"."-'59 /'# +* ,%0,%"* *:"-#*- +* "-;4"* +' -'%%'&"B' C$%0"
4*-C$4"+*-*<$4C'/$-&*+*5"B%*A'5('+*E4'&$.*%"'+"B"-'$<*%&$/$-&$$#,"%"&2'5"G'+*
$QR'%$-*!'$;&-&9!-&'$$
-&&>-'-$2;$7!5M5!;'$&- N
5;'-%-$*9$2;C-&&$'9&%>
;$ &- ! % ! 9! M ',2+
`9= ??9,WO
=W
8!!'!'$!!' !!'$!'!!!'
)*!)9!$'!
)*C382$#$-$.'%*B'5*%$'"/,*%&J-4"'+$"+'$#2%,%$$-+$-&$#B$-&2%'#
+$ *:"-#*- %2#*$9 +$ [*%c9 '%"-C$"%*9 +$ '-"$5 $<*$9 ,'%' ' C"#&0%"' +' 5"&$%'&2%'
2-"B$%#'55"B%*A2/+*#,"*-$"%*#-'/"##)*+$%$-*B'%'#<*%/'#%*/'-$#4'#&%'+"4"*-'"#
B".$-&$# -* #A425* Q9 ,%"/'-+* ,*% 2/ $-%$+* 4"*#* +'# 82$#&I$# +$ <*%* ;-&"/* $
%$'5"G'()*,$##*'5$/52.'%+'5$-+'4*5$&"B'
2' <"4()* A ' ,%"/$"%' 82$ -*# ',%$#$-&' 2/ 82'+%* +' B"+' "-+"B"+2'5
-2/' ,$%#,$4&"B' /'"# '/,5' 4*/* 2/ ,%*4$##* C"#&0%"4* $ -2/' B"#)*
/'"#$#&%$"&'82$/*#&%'*,%*4$##*+$#$-%*5'-+*1#$4*-&%'*,'-*+$<2-+*
+*#,$-#'/$-&*#$'(I$#/'"#$<6/$%*#MH9= 9,YO
%$,%$#$-&'&"B"+'+$ +' *:%' +$ $<*$ 5$.*215C$ * &;&25* +$ /"&* +' #*4"$+'+$
/*+$%-'82"9*#$-&"+*+*&$%/*/"&*+$B$#$%5$/:%'-+*4*/*'82$5$82$<'G%$<$%6-4"''
2/' -'%%'&"B' /*+$5* +$ 2/' <*%/' +$ 4*/,*%&'/$-&* +* #$% C2/'-* 5"B%* +$ '-"$5
$<*$"52#&%'9/'"#$#,$4"<"4'/$-&$9'-*()*+$B'5*%$#+$#&'4'+',$5'45'##$:2%.2$#'
/"&* +$ *:"-#*- %2#*$9 ,*%A/9 +$"@*2 +$ 4*-&$/,5'% &)* '/,5'/$-&$ *#
,$-#'/$-&*# +' #*4"$+'+$9 ,'##'+*# '5.2-# #A425*#9 $ <*" /'.-"<"4'/$-&$ %$$#4%"&* ,*%
"4C$5 *2%-"$% *% "##*9 4*-<*%/$ ! $B*52"9 #2%.$/
/2+'-('# #".-"<"4'&"B'# -* 82$ +"G %$#,$"&* '* $-%$+* * <'&* +$ '5.2-# &%$4C*# #$%$/
%$,%*+2G"+*# 82'#$ 5"&$%'5/$-&$ +' *:%' +$ $<*$9 -)* ,%$P2+"4' ' $@4$,4"*-'5"+'+$ +'
-'%%'&"B'
2"&'#*2&%'#,$425"'%"+'+$#%$#,$"&'-&$#E#$#&%2&2%'#-'%%'&"B'#94*/*&$/,*9$#,'(*9
4'%'4&$%;#&"4'# <;#"4'# $ ,#"4*50."4'# +'# ,$%#*-'.$-#9 +"B$%.$/ +* /"&* *%"."-'5 #
/2+'-('#9 ' ,%"-4;,"*9 ,*+$/ ,'%$4$% "-#".-"<"4'-&$#9 /'# &6/ "/,*%&J-4"' <2-+'/$-&'5 -*
4*-P2-&*&*&'5+'*:%'#+$#B"*#$/%$5'()*EC"#&0%"'*%"."-'5#)*+$&$%/"-'-&$#-)*',$-'#
,'%' +*&'% +$ *%"."-'5"+'+$9 /'# &'/:A/ #)* 4','G$# +$ 4*-#&"&2"% 2/' -*B'
4*-4$,()* +*# &$/'# +' #*5"+)* $ +* "-+"B"+2'5"#/*9 /'"# '+$82'+' '* ,$-#'/$-&* +*
C*/$/+*#A425*QQ
=X
8-5!%
5"B%* +$ $<*$9 P3 :'#&'-&$ 4*-C$4"+* +* ,Z:5"4* 5$"&*% 4*-&$/,*%J-$*9 "-"4"'1#$
4*/2/:%$B$%$5'&*+'B"+'+$%2#*$4*/#2'<'/;5"'9'-&$#+*"-;4"*+$#2'#B"'.$-#5$
-'#4$$/[*%c9-'-.5'&$%%'9$/=W>9B"-+*+$2/'<'/;5"'+$,$82$-*#:2%.2$#$#%2#*$
#$-&$ <*%&$ "-45"-'()* ,'%' ' B"+' +$ B"'P'-&$ $9 ',$#'% +' +$#',%*B'()* +$ #$2# ,'"#9 '*#
+$G$-*B$'-*#':'-+*-'*5'%$,'%&$$/:2#4'+$'B$-&2%'#
#B"'.$-#'-&$%"*%$#'*-'2<%3."*#)*%$,5$&'#+$'B$-&2%'#M,$%".*+$/*%&$9'&'82$
+$ ,"%'&'#9 #$82$#&%*9 <2.'O B"'.$/ +$4"#"B' *4*%%$ $/ =WN $ A "/,25#"*-'+' ,$5*
"-&$%$##$ +$ %2#*$ $/ #$ $-B*5B$% -* 4*/A%4"* $#4%'B*4%'&' $##' A,*4'9 ,%*,%"$&3%"* +$
2/ 5'&"<Z-+"* -* %'#"59 $5$ ,'%&$ -' '/:"()* +$ 4*-#$.2"% '5.2-# $#4%'B*# ,'%' #" $ &%'G$%
*2&%*#,'%'B$-+'9/'#5*.*-'"+''4*-&$4$*-'2<%3."*82$+$&$%/"-'%3*#,%0@"/*#'-*#+$
#2'B"+'
-"4* #*:%$B"B$-&$9 *:"-#*- $-4*-&%'1#$ $/ 2/' "5C' +$#$%&' -'# %$+*-+$G'# +*
'%":$ 2'# ,%"/$"%'# ,%*B"+6-4"'# #)* #$ .2'%-$4$% +$ &2+* 82$ <*% ,*##;B$5 ','-C'% +*#
+$#,*P*#+*-'B"*$"/,%*B"#'%2/'/*%'+','%'#$':%".'%+'4C2B'9+*#*5$+$,*##;B$"#
"-"/".*#9C2/'-*#*2-)*
$,*"# +$ 2/' 'B'5"'()* +$ #2' #"&2'()*9 *:"-#*- 4*-#"+$%' $#&'% $/ /$5C*%$#
4*-+"(I$#+*82$,*+$%"'+$#$P'%$&%'&'+$'+',&'%1#$E#2'-*B'B"+'#$//2"&'#<%2#&%'(I$#
*2+$#$#,$%*','%$-&$5$$#&':$5$4$&'%$<'#+"3%"'#M4'('9/'%4$-'%"'9+$#4'-#*O$4*/$(''
425&"B'%'&$%%'5A/+"##*9':'&"+*,*%2/'$-<$%/"+'+$9#$-&$'-$4$##"+'+$+$+$#$-B*5B$%
'5.2/&",*+$%$5"."*#"+'+$2'#,%3&"4'#'##$/$5C'/1#$E#,%3&"4'#,%*&$#&'-&$#
2%'-&$2/','%&$+$#2'$#&'+'-'"5C'9$#4%$B$2/+"3%"**-+$%$."#&%'#$2#<$"&*#$
'#+"<"425+'+$#$-4*-&%'+'#-'%$'5"G'()*+$5$#
,$-'#',0#/'"#+$&%6#'-*#+$$@;5"*9*:"-#*-,$-#'$/4*-#&%2"%2/:'%4*82$
,*##'&"%315*+'#*5"+)*$5$B315* ,'%''5.2/' ,'%'.$/C':"&'+'9 ,*%A/'&$-&'&"B'<'5C'
:'%4* 82$ 4*-#&%0" $#&3 5*-.$ +$/'"# +' 3.2' $ A "/,*##;B$5 5$B315* '&A * /'% $,*"# +$
/$#$# +$ &%':'5C* +$#,$%+"('+*9 ' %$'()* +$ *:"-#*- '* B$% * $/,%$$-+"/$-&* <%2#&%'+*
%$#2/$1#$ ' 2/' /3.*' #"-4$%' #&$ <'4&* /'.**21/$ #"-4$%'/$-&$9 $ B"' '.*%'9 $/:*%'
&'%+$+$/'"#]#"4_9*+"#,'%'&$+$4*/$('%2/&%':'5C*'-&$#+$&$%$/4*-#"+$%'()**42#&*$
+$P25.'%/*#4*%%$4&'/$-&$+'-*##'<*%(','%'*5$B'%,*%+"'-&$M
9= XN9,=?O
#2' +$4$,()*9 '"-+' ,*% 4"/'9 A %$5'&"B' ' #" ,%0,%"*9 E #2' <'5&' +$ &"-* ,'%' %$'5"G'% 2/
=?
$/,%$$-+"/$-&*#$/'-&$#/$+"%'#4*-#$826-4"'#9$-)*'*%$#25&'+*+$4$,4"*-'-&$+$#$2
&%':'5C*
-*# +$,*"#9 $5$ +$#4*:%$ 82$9 $/ +$&$%/"-'+'# *4'#"I$#9 ' "5C' A B"#"&'+' ,*%
"-+;.$-'# B"-+*# +* 4*-&"-$-&$ '/$%"4'-*9 ,'%' %$'5"G'% %"&2'"# +$ 4'-":'5"#/* -+".-'+*
4*/ * 82$ $5$ 4*-#"+$%' 2/ 4%"/$ :%2&'59 ,'##' '-*# ,5'-$P'-+* 2/ '&'82$ ' <"/ +$
$@&$%/"-'% '5.2-# +$5$# $,*"# +$ 2/ #*-C*9 /'%'B"5C'1#$ 4*/ ' "+$"' +$ '%%'-P'% 2/
#$5B'.$/,'%'#$%#$2$#4%'B*$*'P2+'%'<2."%+'"5C'"/'."-'B'1/$4','G+$+"%"."%2/9
-)*9+*"#*2&%6##$5B'.$-#9#$*#&"B$##$9+$<*%/''&*%-315*#/$2#$#4%'B*#9'<'G$%$/&2+*
*82$5C$#/'-+'##$$'$B"&'%82$<*##$/4','G$#+$/$<'G$%/'5M
9= XN9,= >O
2@"5"'+*,$5*'4'#*9*:"-#*-4*-#$.2$%$'5"G'%#$2+$#$P*$+$,*"#+$B"-&$82'&%*
'-*# +$ 4*/,5$&' #*5"+)*9 #'5B' 2/ #$5B'.$/ +$ #$% +$B*%'+* ,*% *2&%*# "-+;.$-'# +2%'-&$
2/ %"&2'5 ,'%&"% +$ $-&)*9 $@&'1$"%' ,'##' ' #$% #$2 $#4%'B* 4*/* <*%/' +$
'.%'+$4"/$-&*,$5'#2'#'5B'()**%<"/94C$.*2'*,A+$/"/9'P*$5C*2-*B'/$-&$9:$"P*2
'&$%%'9,V#'4':$('-*4C)*$9'.'%%'-+*1/$-2/,A94*5*4*21*#*:%$'4':$('9*82$/$
,'%$4$2#$%2/P2%'/$-&*+$<"+$5"+'+$,'%'&*+''B"+'M
9= XN9,= NO
5$&%'-#<*%/'$@&'1$"%'-2/"-+"B;+2*4"B"5"G'+*9'"-+'82$$#&$-2-4'4*-#".'
25&%','##'%2/.%'2+$4*-C$4"/$-&*,%$43%"*+'5;-.2'"-.5$#'$,$%/'-$('#$/,%$$/2/'
#"&2'()*+$#2:'5&$%-*9"-<$%"*%'*#C*/$-#:%'-4*#5$A',$-'#2/4%"'+*+04"5$*:$+"$-&$
'##'+*# 4$%4' +$ &%6# '-*# +$ 4*-B"B6-4"' C'%/*-"*#'9 *:"-#*- $ $@&'1$"%' #)*
%$#.'&'+*#,*%2/-'B"*`*'-*+$=W?W
$B*5&'E2%*,'9$5$+$#4*:%$1#$2/C*/$/%"4*9+$B"+*'*$/,$-C*$<"+$5"+'+$
+'82$5$# 82$ 42"+'%'/ +$ #$2# :$-# $ #$ $/*4"*-' /2"&* 4*/ "##* "5C' ,'##' ' #$%
C':"&'+',*%'5.2-#$#,'-C0"#82$B"B"'/-*4*-&"-$-&$4*/'&%":*+$$@&'1$"%'$,*%,'%&$
+'&%",25'()*+*-'B"*+$%$#.'&$+*-32<%'.*9+$"@'+''5"4*/*<*%/'+$,2-"()*,*%&$%#$
%$:$5'+* 4*-&%' #$2 4*/'-+'-&$ *:"-#*- +$45'%'1#$ #$2 #$-C*%9 -*/$'-+*1' #2' -*B'
4*5V-"'#&'"+$"'P3#$5C$C'B"'<*%/'+*-'/$-&$+$#+$*#,%"/$"%*#&$/,*#+$#$2$@;5"*9
/$#/* #$/ $#&'% 4$%&* +$ 82$ #$%"' %$#.'&'+* 82$ &2+* '82"5* $%' /$29 82$ $%'
"%%$B*.'B$5/$-&$%$"$#$-C*%+$&*+*$#&$&$%%"&0%"*$&"-C'+"%$"&*+$,*##$F$82$9#$,2+$##$
&%'-#/"&"15*9 ,*+$%"' <'G615* C$%$+"&3%"* +' /$#/' /'-$"%' 82$ *# -*:%$# $/ -.5'&$%%'
M
9= XN9,=O
/=W Y9P3B"ZB*+$2/4'#'/$-&*82$5C$+$2&%6#<"5C*#9*:"-#*-+$4"+$B*5&'%'
B"'P'%4*/*4*/$%4"'-&$9,'%''#d-+"'#%"$-&'"#$##'*4'#")*9<'G2/'B"#"&'E#2'"5C'
##$#Z5&"/*#'4*-&$4"/$-&*##)*4*-&'+*#/2"&*%$#2/"+'/$-&$$'-'%%'()*&$%/"-'4*/'
#$.2"-&$ +$45'%'()* +$ *:"-#*- &*+'# $#&'# 4*"#'# 4*/ '5.2-# "-4"+$-&$# :'#&'-&$
= #2%,%$$-+$-&$#9 $/ -*B'# 'B$-&2%'# /"-C'#9 82$ +2%'%'/ +$G '-*#9 &'5B$G 2/ +"' $2 B*#
4*-&$$/+$&'5C$M
9= XN9,? O
-'%%'&"B'+$*2%-"$%"-"4"'1#$/*/$-&*#'-&$#+*-'2<%3."*`*+"'>+$#$&$/:%*
+$ =XN 9 $@'&'/$-&$ 2/ #A425* +$,*"# +* -'2<%3."* *4*%%"+* $/ $<*$ *:"-#*- $#&3 -*
"%."-"$9-'B"*4*/'-+'+*,$5*4',"&)*'-
$R##$59$/:2#4'+$%"82$G'#-*-*B*/2-+*
4',"&)*564'%&'#+$&'%V ,'%'*:"-#*-9+2%'-&$2/'&$/,$#&'+$9%$B$5'-+*15C$+$<*%/'
#"/:05"4'#$2<2&2%*#$.2"%*4*%%$*-'2<%3."*#&','%&$+'-'%%'&"B'4*/,I$*,%$<34"*
-"4* #*:%$B"B$-&$9 *:"-#*- '4*%+' $/ 2/' "5C'9 5*4'5"G'+' -* '4;<"4*9 $ -)* -*
'%":$9 4*/* $/ $<*$9 *-+$ ,$%/'-$4$ E :$"%' +' ,%'"'9 E $#,$%' +$ 82$ 2/ -'B"* 5*.*
','%$(' ,'%' %$#.'&315* 3 2/' %$52&J-4"' /2"&* .%'-+$ +' ,'%&$ +* -32<%'.* $/ '4$"&'% '
,*##":"5"+'+$ +$ 2/' 5*-.' $#&'+"' -' "5C' 5.2-# +"'# +$,*"#9 $5$ %$#*5B$ "-"4"'% #$2
,%"/$"%*$/,%$$-+"/$-&*'4*-#&%2()*+$2/'$/:'%4'()*4*/4','4"+'+$#2<"4"$-&$,'%'
'&"-."%'4*#&'4C"5$-'*4"+$-&'5?M9= X9,>9&%'+2()*-*##'O$5',%"/$"%'
B$G9+$"@''4*#&','%'"%'&A*#+$#&%*(*#+*"%."-"$$/:2#4'+$"-#&%2/$-&*#$/'&$%"'"#
Z&$"#'*##$2#+$#;.-"*#5$4*/$(''4*-#&%2()*+*S'2'-+** :'%4*$#&3 ,%*-&*9
*:"-#*- +31#$ 4*-&' +' "/,*##":"5"+'+$ +$ 5$B315* '&A * /'% +$#$#,$%* &*/' 4*-&' $
82'#$*5$B'E5*242%'
$%%*&'+*9,'##'+"'#4C'<2%+'+*-'5'/'9P2-&*4*/,*%4*#1+*1/'&*9
'5"/$-&'-+*1#$$/*B$-+*1#$4*/*2/'-"/'5,0#2/+$5;%"*94*-#4"$-&"G'1#$+*,$%".*+$
,$%+$%'%'G)*$+$4"+$&*/'%'#%A+$'#+'#2'B"+'5$%$&*/'%"'-'/)*#$2+$#&"-*5$
&%':'5C'%"' 5$ 4*-#2/'%"' #$/ /'"# #*-C'% #2'# -Z,4"'# 4*/ #2' $#,*#' "/,5'43B$59 '
#*5"+)* M9= X9,Y9&%'+2()*-*##'O
,0# #$/'-'# +$ $@,5*%'()* +$&'5C'+' +' "5C'9$5$ +$4"+$ %$&*%-'% /'"# 2/' B$G '*
-'B"*-'2<%'.'+*$%$&"%'%+$53&*+**,*##;B$5
2%'-&$*#/$#$##$.2"-&$#%$'5"G'&%':'5C*#
+$ ,$423%"' $ +$ '.%"425&2%'9 /'# '# +"<"425+'+$# $ ' +$,%$##)* '4':'/ ,*% 4*-+2G"15*
-*B'/$-&$ ' 2/' #"&2'()* +$ +$#J-"/* $##'# *4'#"I$#9 $5$ B*5&' ,'%' ' 5'/' 4*/ *#
,*%4*#9:2#4'-+*#$%$<2."'%+'%$'5"+'+$
'#9 '4"/' +* +$#J-"/*9 *:"-#*- A /*B"+* ,$5* /'"# "-&$-#* %'-4*% +$ $#&'%
4*-<"-'+* -' "5C' $ 4*-#$.2$ %$'5"G'% ,%*+;."*# '.%;4*5'# -* #$2 &$%%$-* #$5B'.$/ 2'
,%*+2()* $ ' /'-2<'&2%' +$ B3%"*# *:P$&*# 25&%','##' $/ /2"&* *# <$"&*# +* *:"-#*- +$
$<*$ 4*%*'()* +$ #2' B"&0%"' #*:%$ ' +$#2/'-"G'()* A ' 4*-#&%2()* +$ 2/' 4'#' <$"&'
?
$$% $&---T$#-$-2M9= X9,>O
-&$$2-$'--$2-$&-:''9&
&--*--$2M9= X9,YO
:'#"4'/$-&$4*//'+$"%'9,$+%'#9,'5C'$'%."5'-'$-&%'+'+$2/'.%2&'*:"-#*-',$-'#
%$42,$%'%"',5$-'/$-&$#2'C2/'-"+'+$'*#$+*&'%+$2/':%".*82$<*##$*2&%'4*"#''5A/
+* <2-+* +$ 2/' .%2&' *2 2/' 4*:$%&2%' +$ <*5C'#= M9 = X9 , WN9 &%'+2()*
-*##'O
2-&*E&'%$<'+$'+/"-"#&%'%'"5C'9*:"-#*-"-"4"''$#4%"&2%'+$2/+"3%"*9*2-%M
)9 4*/* A -*/$'+* -' *:%' +"3%"* %$."#&%' ' $B*52()* "-&$%"*% +' ,$%#*-'.$/ $ A
%$,5$&*+$%$<5$@I$#<"5*#0<"4'#
*:"-#*- $#&':$5$4$ '"-+' 5$"# 82$ "%)* %$.$% #$2 4*/,*%&'/$-&* $ &%':'5C' ,'%'
"/,*% 2/' *%.'-"G'()* <%$-A&"4' +' "5C' -&%$ '# -*B'# %$.%'# 4*-#&' ' ,%*":"()* +$ #$
$-&%$.'% E &$-&'()* +$ 4C'<2%+'% -' 5'/'9 #;/:*5* ,'%' $5$ +$ +$%%*&' -' 52&' ,$5' -)*1
+$#2/'-"G'()*'#9'*/$#/*&$/,*9$/+$&$%/"-'+'##"&2'(I$#9$-&%$.'1#$'$@,$%"6-4"'#
4*/,5$&'/$-&$+"B$%#'#+'#'&A$-&)*4*-C$4"+'#)*/*/$-&*#+$4*/,5$&*'5C$'/$-&*E#
*:%".'(I$# $ +$ <2#)* 4*/ *# $5$/$-&*# +' "5C'9 $@,$%"6-4"'# +$ *%+$/ #$@2'5 $7*2
/$&'<;#"4'/'<2.'+'*%+$/'+/"-"#&%'&"B'$#&':$5$4"+'
` "/,*##;B$5 +$&$%/"-'% +$,*"# +$ 82'-&* &$/,* +$ 4*/,5$&* "#*5'/$-&* $-+%$+"
4C$.'E"5C'/+"'9$-82'-&**:"-#*-*:#$%B'*##$5B'.$-#%$'5"G'%$/%"&2'"#+$#'4%"<;4"*
$4'-":'5"#/*9*'%'24'-*$-+%$+"#'5B'1#$+'/*%&$$*'4'#*<'G*:"-#*-'4*5C615**
4*-&%3%"* +* ,%*&'.*-"#&' +$ $<*$9 *:"-#*- $/ /*/$-&* '5.2/ '5"/$-&'%' * +$#$P* +$
#'5B'%'B"+'+$$-+%$+",'%'&615*P2-&*+$#"9/'#'##"/4*/**,%"/$"%*9&$-&'%3<'G$%+*
#$5B'.$/ 2/ "-+"B;+2* 4"B"5"G'+*9 %$5"."*#* $ #$%B"5 9 $/:*%'9 ' ,%"-4;,"*9 * "-+;.$-'
#2P$"&$1#$$42/,%'&*+'#'#*%+$-##$/%$45'/'%9*:"-#*-,$%4$:$5*.*'5.*+$,$%&2%:'+*%
-*#$24*/,*%&'/$-&*9$@&$%"*%"G'+*9,%"-4",'5/$-&$9,*%2/%"#*+$B'#&'+*%
$%&*+"'9$-+%$+"'4*%+'$,$%4$:$''2#6-4"'+$#$2#$-C*%9$-&%$.2$'2/'+$#2'#
$@,$%"6-4"'#&%'-#4$-+$-&'"#4*/'"5C'$-&"-+*1#$5"B%$,'%''."%4*/*:$/5C$',%*2B$%9
$-+%$+" 4*/$(' ' B'.'% ,$5' "5C' %$'5"G'-+* *# /'"# ':#2%+*# $/,%$$-+"/$-&*# /' +$
#2'#'%&$#'4':',*%+$#&%2"%2/'%%*G'5425&"B'+*4*/ /2"&*$#<*%(*,*%*:"-#*-
$,*"#
+"##*9 -)* B*5&' ,'%' 4'#'9 $-&%$.2$ E# #2'# %$"-'(I$# *:"-#*- #'" E #2' ,%*42%'9 /*B"+*
,$5' 42%"*#"+'+$9 ,$5* %$/*%#* $ ,$5' &%"#&$G' 82$ &*/' 4*-&' +* 4)* $--9 4*/,'-C$"%*
"-#$,'%3B$5+$$-+%$+"%3$-4*-&%315*+"'#+$,*"#+"##"/25'+*$//$"*'<*5C'.$-#$C$%'#
$,"#0+"*4*-#4"$-&"G'*:"-#*-#*:%$'$@"#&6-4"'+$2/'B"+'$+$2/',$%#*-'5"+'+$+*
'%'24'-*'#82'"#$5$+$#4*-C$4"'
=
'$'&-$#$9!;$!$$#!-
;%$$'$ --2M9= X9,WNO
=
$,*"# +$##$ $ +$ *2&%*# +$#$-&$-+"/$-&*# $-&%$ #$-C*% $ $#4%'B*9 ' B"+' '4':' ,*%
%$&*/'% #2' %*&"-' /*-0&*-' '&A * /*/$-&* +' .%'-+$ %$B"%'B*5&'9 "-B$%#*%' +* #$-&"+* +'
'()* $ +' #"&2'()* +'# ,$%#*-'.$-# $-+%$+" 4'2#' '4"+$-&'5/$-&$ ' $@,5*#)* +' 4'#' +$
*:"-#*-$+'.%2&'9+$,0#"&*+$&*+*#*##$2#:$-#9'5":$%+'+$+$$-+%$+"-'82'5
*:"-#*- 4*/$(*2 ' "-"4"'%1#$ -*# +"'# #$.2"-&$# -)* $%' ',$-'# ' -$.'()* +' *%+$/
$@&"-&'+'#2,$%<;4"$+'"5C',$5'$@,5*#)*==M9= X9,= 9&%'+2()*-*##'O
2-&*#9''-&".'%$5'()*C"$%'%82"G'+'$-&%$*:"-#*-$$-+%$+"A':*5"+'*:"-#*-
,'##' ' <'G$% 4*"#'# 4*-#"+$%'+'# $/ *2&%*# &$/,*# "-4*/,'&;B$"# 4*/ #2' +".-"+'+$ +$
C*/$/4"B"5"G'+**.*#$$@$%4;4"*#',%$-+"+*#4*/*#$5B'.$/94*/*9,*%$@$/,5*9'-+'%
',*"'+*-'#/)*#
/2+'-(' 425/"-' -' /*+"<"4'()* "-&$%"*% +$ *:"-#*-9 82$ * 5$B' ' +"#,$-#'% '
*,*%&2-"+'+$+$B*5&'%E4"B"5"G'()*982'-+**-'B"*HC"&$:"%+'-4*%'-'"5C',0#4*-C$4$%
'&%",25'()*$&$%4*-&'&*4*/C*/$-#4"B"5"G'+*#9*:"-#*-+$4"+$4*-&"-2'%-'"5C'4*/
$-+%$+"9+$4$,4"*-'+*4*/' /$#82"-C$G+*C*/$/ /*+$%-*9%$&%'&*+*82$$5$<*%'2/
+"'
* '4*%+'%9 -* +"' #$.2"-&$ E B"#"&' +* HC"&$:"%+9 +$#4*:%$ ' ,'%&"+' +$ $-+%$+"
$#$#,$%'+*9$5$+$#$P'/*%%$%+$-&%*+*#$#4*/:%*#+'.%2&',*-&*+$$-&%'%-$5'92/'
4%"'-('#'"+*:2%'4*A*.%2/$&$+*-'B"*982$9'&%';+*,$5':*-+'+$+**5C'%+$*:"-#*-9
<2."2,'%',$%/'-$4$%'*#$25'+**:"-#*-.2"'1*$/+"%$()*'2/,*-&*'5&*+'"5C'9$-*
/*/$-&* $/ 82$ -'#4$ 2/ -*B* +"' $ '<'#&'1#$ * -'B"*9 $5$ :'&"G'1* 4*/ 2/ -*B* -*/$
M`9= ??O
8-8!:%
'%' $#4%$B$% '# 'B$-&2%'# +$ *:"-#*- %2#*$9 '-"$5 $<*$ "-#,"%*21#$ $/ 2/
'4*-&$4"/$-&*%$'5/'%"-C$"%*$#4*46#5$@'-+$%$5c"%c9&$-+*+$#$/:'%4'+*-2/'"5C'
+* '4;<"4* 259 4C'/'+' 3# ' "$%%'=9 -* '%82",A5'.* 2'- $%-3-+$G9 -' 4*#&' 4C"5$-'9
+$B"+* ' +$#$-&$-+"/$-&*# 4*/ * 4',"&)* +$ #$2 -'B"*9 53 ,$%/'-$4$2 $/ 4*/,5$&*
"#*5'/$-&*'&A#$%%$#.'&'+*982'&%*'-*#/'"#&'%+$9,*%2/-'B"*"-.56#
==
- -$9 U 7 -!-- 8 7 ;$ - 6 '$ U ;9$$ & ! -
9%$-; 9- -;P-&-;<&-2M9= X9,= O
=
&2'5/$-&$9'"5C'4C'/'1#$*:"-#*-%2#*$
$#/* "-#,"%'+* ,*% $##$ $ '9 $<*$ -)* #$ /'-&$B$ <"$5 $/ 5*4'5"G'% #2'#
'B$-&2%'#-'"5C'*-+$$#&$B$%$'5/$-&$$5c"%c
/ $<*$9 ' "5C' +' 82'5 *:"-#*- #$ &*%-' #$-C*% #"&2'1#$ -* '%":$9 4*-<*%/$ #$
,*+$"-<$%"%,$5*&;&25*+*5"B%*MB$%-*&'=O$,$5*&%$4C*'#$.2"%/'"#&'%+$,$%4$:"82$$%'
+$%"B'+*'*<52@*$%$<52@*+*,*+$%*#*%"*%$-*4*9-':*4'+$42P*.*5<*#$#"&2'B''"5C'9$
'&$%%'82$$2'B"#&'B''*$#&$$-*%*$#&$$%''"5C'+$%"-+'+$9-*$@&%$/*-*%&$+'<*G+*
%"*M
9= XN9,WO
$#4*5C' +$ $<*$ ,*% /2+'% * 5*4'5 *%"."-'5 +' 'B$-&2%' +$ $5c"%c ,*+$ $#&'%
%$5'4"*-'+' '* $@*&"#/* $@$%4"+* ,$5* '%":$ -* "/'."-3%"* $2%*,$2 $9 &'/:A/9 ,*% &$%
&*/'+* * %'#"5 4*/* ,*-&* +$ ,'%&"+' +* C$%0" $/ +"%$()* E e<%"4' )* #$%"' /2"&*
'4$"&3B$5 * <'&* +$ 2/ -'B"* #';+* +* -*%+$#&$ :%'#"5$"%* $/ +"%$()* '* 5$#&$9 #$% '%%'#&'+*
,'%'*'4;<"4*9-'#4*#&'#+*C"5$9,*%2/'&$/,$#&'+$9,*%/'"#B"*5$-&'82$<*##$
"5C' +$B$ '+',&'%1#$ ,'%' ,%*,*%4"*-'% * :$/ $#&'% +$ %2#*$ 5"9 $5$ $@,5*%' '
/'"*%82'-&"+'+$+$%$42%#*#,*##;B$"#"-&$%$##$,$5'"5C'+"%".$1#$#$/,%$-*#$-&"+*+$
4*-C$4615'/$5C*%,'%'+$5'%$&"%'%*/3@"/*+$,%*B$"&*/'&$%"'5,*##;B$5
5$'-*/$"''"5C'+*
$#$#,$%*92/52.'%+$',%"#"*-'/$-&**#'"%+'5"9+$45'%'
&$%#"+*%$#.'&'+*+$2/4'&"B$"%*
/' +'# Z-"4'# B$G$# $/ 82$ *:"-#*- $@,%$##' '5.2/ &",* +$ $-4'-&'/$-&* $/
%$5'()* E "5C' A '* 4C$.'% ' 2/ B'5$9 +2%'-&$ #2'# $@,5*%'(I$# +' %$.")* "4* $/ <%2&'#9
3%B*%$#93.2'$/'"##$.2%*4*-&%'&$/,$#&'+$#9'82$5$#$%"'2/52.'%/$5C*%,'%'$#&':$5$4$%
#2'/*%'+'*%A/9+$B"+*E+"#&J-4"'+'4*#&'9*:"-#*-,%$B6+"/"-2;+'#2',*##":"5"+'+$
+$ %$#.'&$ $ +$#"#&$ +' /2+'-(' / *2&%' *4'#")*9 '* #$ '<'#&'% +$ :'%4* +' 4*#&' "-#25'%9
'4':',$.*,*%2/'4*%%$-&$/'%;&"/'$&$/$-)*4*-#$.2"%B*5&'%E"5C'
$<%*-&'+*$-&)*
$-&%$'"5C'*2'/*%&$9$5$+"GA+"<;4"5"/'."-'%'4*-#&$%-'()*82$#$-&"'9'<'#&'+*4*/*
<*%' +' /"-C' 82$%"+' "5C' M% =%O M
9 = XN9 , => 9 .%"<*
-*##*O
'#9 -'+' -' "5C' A ,'%' $5$ /'"# 4*-<*%&3B$5 $ '4*-4C$.'-&$ +* 82$ ' #2' &$-+'
4*-#&%2;+' 4*/* /*%'+' 5" 4*-<$44"*-' /0B$"#9 4%"' '-"/'"# +*/A#&"4*# $ +$,*#"&' #$2#
:$-#Z-"4*52.'%82$%$'5/$-&$*4*-<*%&'-'"5C'9/$#/*4*/&*+'#'#:$5$G'#-'&2%'"#'*
%$+*%9A*/'"#,%0@"/*+'82"5*82$#$,*+$4C'/'%+$4"B"5"G'+*
*: *2&%' ,$%#,$4&"B'9 $-&%$&'-&*9 ' "5C' A 2/' +3+"B' ,'%' %2#*$ ' 5"-C' +$
,$-#'/$-&* +* C*/$/ :2%.26# 4',"&'5"#&'9 ' "5C' A ' ,*##":"5"+'+$ +$ +$#$-B*5B$%
"-+"B"+2'5/$-&$ &*+'# '# #2'# '&"B"+'+$#9 /'# '* /$#/* &$/,* +$#<%2&'% #*G"-C* +*#
>
:$-$<;4"*# +* #$2 &%':'5C* MH9 =
X9 , =X=O '-&* 82$9 +2%'-&$ * ,$%;*+* 82$ '5"
$#&$B$9%2#*$B"B$24*/<'%&2%'$4*-#$.2"2'42/25'%2/'4$%&'82'-&"+'+$+$:$-#
"5C'A9,*%&'-&*9B"#&',*%%2#*$9',$-'#$/2/#$-&"+*2&"5"&'%"#&'94*/*<*-&$+$
$@,5*%'()*9/$#/*+$,*"#+$#2'#';+'+$53982'-+*'4*-#&"&2"#2'4*5V-"'
*2%-"$%&%'-#<$%$*5*4'5+'#'B$-&2%'#,'%'/'"#,%0@"/*E"5C'+*%$'5+$#$/:'%82$
+* /'%"-C$"%* $#4*46# *%A/9 &'/:A/ -)* 5*4'5"G' '# 'B$-&2%'# -' "5C' 3# ' "$%%'
$#,$4"<"4'/$-&$9/'##"/$/'5.2/52.'%,%0@"/*+'5"
*:"-#*- $/:'%4' -* -'B"* "%."-"$ $/ "/'9 P3 ,%0@"/* +'# "5C'# $/ 82$#&)*
-&%$&'-&*95*.*',0#'4C$.'+'E"5C'4*-#&'&''<'5&'+$82'582$%/$-()*-*#/','#9A2/'
"5C'+$#4*-C$4"+'
382$$#&'&$%%'-)*$%''"5C'3#'"$%%'9+$B$%"'#$&%'&'%+$2/'"5C*&'
82$*#/','#-)*/$-4"*-'B'/9#"&2'+'$/'5.2/','%&$$-&%$'.%'-+$"5C'
$'4*#&'4C"5$-'*$#&$*'%82",A5'.*2'-$%-3-+$G9'5$#&$*4*-&"-$-&$
#251'/$%"4'-* $-4*-&%'B'/1#$ ' +"#&J-4"'# "/,*##;B$"# +$ +$&$%/"-'%=>
M9= X9,=?1= 9&%'+2()*-*##'O
` "/,*%&'-&$ %$4*%+'% 82$ '# 'B$-&2%'# $#4%"&'# ,*% *2%-"$% ,'##'/1#$ $@'&'/$-&$
2/#A425*+$,*"#+'82$5'#+$
$<*$/=XN 9'"5C'3#'"$%%'$%'2/5*4'54*-C$4"+*$
C':"&'+**,()*+$*2%-"$%,*%&%'-#<$%"%*5*4'5+'#'B$-&2%'#,'%'2/#;&"*+$#4*-C$4"+*
,*+$ #$% P2#&"<"4'+' ,*% $#&$ <'&* "-<*%/'()* 82$9 ,%*B'B$5/$-&$9 A +$#4*-C$4"+' ,$5'
/'"*%,'%&$+*#5$"&*%$#+$*2%-"$%9A+'+',$5*,%0,%"*'2&*%'&%'BA#+'#$@,5"4'(I$#+$#$2
-'%%'+*%
##"/82$'&$/,$#&'+$#$<*%/'%'9'.'5$*&'+*4',"&)*'-
$R##$5+$B"'
#$ $-4*-&%'% -)* '* -*%&$9 4*/* $5$ '4%$+"&'%' /'# ' -*%+$#&$ +*
'%82",A5'.* 2'- $%-3-+$G $#+$ $-&)*9 * -'B"*9 <2."-+* #*: * B$-&*9
+$B"' &$% #"+* '&"%'+* #*:%$ '# '&$%%'.$-# +' "5C' 3# ' "$%%'9 $/ B$G +$
+$%"B'%5"B%$/$-&$-*B'G"*/'%"-C*+$4$-&*$#$&$-&'/"5C'#82$#$$#&$-+$
$-&%$ $#&' "5C' $ ' 4*#&' 4C"5$-' '5 $%' '* /$-*# ' C",0&$#$ /$-*#
+$#<'B*%3B$5'*:"-#*-9P382$3#'"$%%'9+$#4%"&',*%H"55"'/
'/,"$%9
-2&%"' 2/' ,*,25'()* +$ *%".$/ $#,'-C*5'9 /2"&* $#,'5C'+'9 A B$%+'+$9
=>
!$$$;9$$&-;P-"*-'$;%;P-$!-$$$&*
$9 !-! &$ $ - % P- $ - T$ #-2 -;$ -;#&- 5VF* 7 -;$ -
$$M$'$7$&-79$M9= X9,=?1= O
Y
#*:%$ -*B$-&' $ 4"-4* 82"5V/$&%*# 82'+%'+*# +$ <5*%$#&'# &%*,"4'"# $ +$
,%'+'%"'#=YM9= X9,=N1=W9&%'+2()*-*##'O
H"55"'- '/,"$%9 +$ <'&*9 $@"#&"2 $ +$#4%$B$2 *# 5*4'"# ,*% *-+$ ,'##*2
*-#"+$%'-+*1#$ * %".*% +*42/$-&'5 ' 82$ *2%-"$% #2:/$&$ #$2# &%':'5C*#=N9 /$#/*
"/:2;+*# +$ .%'-+$ &$*% /"&*50."4*9 $5$ *,&' ,*% -)* ',$-'# %$'5*4'% '# 'B$-&2%'# +$
*:"-#*-94*/*&'/:A/$@,5"4'%*/*&"B*+'/2+'-(''*5$"&*%
* /$#/* &$/,*9 ' "5C' +$#4*-C$4"+' ,$%/"&$ '/,5"'% ' '&/*#<$%' +$ #2#,$-#$ $/
&*%-*+*#'4*-&$4"/$-&*#%2#*$#'"+$2//2-+*4*-C$4"+*,'%'2/52.'%+*82'5-2-4'
*2B"%'<'5'%94*/,5$&'/$-&$$#&%'-C*,'%'$5$*4'5"G'%'"5C'$/2/52.'%*-+$-)*$@"#&$
%$'5/$-&$ -'+' /$-4"*-'+* -*# /','# +3 /'%.$/ '* 5$"&*% ,'%' 82$#&"*-'%1#$ 82'-&* E
$@"#&6-4"'%$'5+$##$52.'%%2#*$-)*$#&3$/&'5*2&'5"5C'9$5$$-4*-&%'1#$-*#5"/:*#+*
'4;<"4* 2 #$P'9 2/ 52.'% +$ "-+$<"-"()*9 +$ &%'-#"()* $.2-+* *25*2/"A M= ??9 , >9
&%'+2()*-*##'O9'+$-*/"-'()**#5"/:*#+*'4;<"4*L#2:5"-C''82"5*82$$#&$52.'%&$/+$
"%%$'59<*%'+*/2-+*=W*%&'-&*9C34$%&*/"#&A%"*$-B*5B$-+*'"5C'+$*2%-"$%$%382$
$##' "5C' $@"#&$ %$'5/$-&$b 2 A 2/ 52.'% /3."4*b *:"-#*- ,*+$%"' /2"&* :$/ -)* &$% #$
#'5B'+*B$%+'+$"%'/$-&$+*-'2<%3."*$$#&'%#2#,$-#*$/2/'$@"#&6-4"''5A/+'B"+'$+'
/*%&$9%2/*E82'5,'%$4$#$%4*-+2G"+'#2'$B*52()*
$#,'(*/3."4*9"-+$<"-"+*9/"#&$%"*#*9$B*4'+*P3-*&;&25*+'*:%'9+*&'4'+'5*4'5
+$#4%"&* +' "5C' +$ 2/' '&/*#<$%' #"/:05"4' $ /;&"4'9 $##$-4"'5 ,'%' ' $B*52()* +'
,$%#*-'.$/ / *2%-"$%9 /$#/* ' .%2&' 82$ #$ 5*4'5"G' ,*% +$&%3# +' 4'#'9 ;4*-$ +$ #2'
4"B"5"+'+$9 $@$%4$ 2/ ,',$59 #$ -)* &*&'5/$-&$ 4*-&%3%"* '* +$ C2/'-"G'()*9 '* /$-*#9
,'%'+*@'5 $,*"# +' +$#4*:$%&' +$ 2/' $#&%$"&' ,'##'.$/ ,*% *-+$ ,*+$ $#4*%%$.'% $ #$
'4*/*+'% $/ ,*#"()* <$&'59 *:"-#*- $-&%$.'1#$9 $/ '5.2/'# *4'#"I$#9 ' 2/' $@,$%"6-4"'
82$*"/:2"+$2/'$##6-4"''-&$%"*%E4*-#&"&2"()*+$#",%0,%"*4*/*"-+"B;+2*C2/'-*9$/
=Y
!-$&:$;9$$-'9*-%-$&$.-'$$'U&*
--;'$UM$-;#&-5VF2D-*-'* .$-'$*
'$W:$#9-$$%-;P-"*-9'-$-'
$<$M<--!;9$$$$P-$-T$#-2"--9$$-;#.&$#D-
9 '- 7 * &! "* 9$ & 3-- &* $ &&-$
;% &%-* F -9* - $ '* !$M'%$M!F )-D$ 9 :$
$&-$&M9= X9,=N1=WO
=N
*%#$2.*#&*+'+$#4%"()*%".*%*#'9/"-24"*#'+'%$'5"+'+$9*2%-"$%'+/"&$#$5".'%'*#$#4%"&*%$#+*#A425*
QQ '%' $5':*%'% #2'# *:%'#9 $5$ B"'P'9 4*-+2G "-B$#&".'(I$# ,$##*'"# $9 #*:%$&2+*9 <'G 2#* +$ +*42/$-&*9
$-4"45*,A+"'#*2*:%'#$#,$4"'5"G'+'#982$$5$$/.$%'5-)*4*-#$%B'92/'B$G#$2,%0,%"*&%':'5C*&$%/"-'+*
M`9= ??9,NY9&%'+2()*-*##'O
=W
;-- !;-%!-;9-*#M`9= ??9,>O
N
2/'%$5'()*82$25&%','##''#"/:*5*."'+'%$5'()*$-&%$'/)$$*#$2<$&*$"/,5"4'-2/'
"-&$.%'()* &*&'5 +$ %2#*$ 4*/ ' "5C' '82$5' ,*#"()*9 -'82$5$ /*/$-&*9 $5$ -)* A 2/
"-+"B;+2*"-+$,$-+$-&$9/'##$#$-&$4*/*2/+*#$5$/$-&*#4*/,*-$-&$#+'"5C'
%$5'()*4*/'"5C','##',*%B3%"*#$#&3."*#9,'%'5$5*#E$B*52()*+',$%#*-'.$/
5'%$,%$#$-&'/2"&*/'"#+*82$2/'<*-&$+$%$42%#*#/'&$%"'"#2/,%"/$"%*/*/$-&*9
'*#$+'%4*-&'+$82$'82$5'"5C'-)*$%''4*-C$4"+'3#'"$%%'9/'#2/52.'%,$%+"+*-*
*4$'-*'4;<"4*9*:"-#*-$-@$%.''"5C'4*/*2/$#,'(*+$"-<$5"4"+'+$$&%"#&$G'9382$
$#&'-)*A3#'"$%%'9$5$+"##$#"/,5$#/$-&$9A'"5C'+'
$#*5'()*=XM9= X9
,=?9&%'+2()*-*##'O'#982'-+*4*-#$.2$$-&%$B$%',*##":"5"+'+$+$,$%/'-$4$%-'"5C'9
$5$ ' %$:'&"G' 4*/* ,$%'-G' -*/$ 4$%&'/$-&$ <'G %$<$%6-4"' '* #$-&"/$-&* ,$5* 82'5 *
4*%'()* +$ *:"-#*- A '%%$:'&'+*9 -'82$5$ /*/$-&*F /'#9 ,*% *2&%* 5'+*9 $/,%$#&' 2/
4'%3&$%/'"#C2/'-*E"5C'9+$#&'4'+*,$5*&%$4C*#$.2"-&$
5$+$4"+"282$'"5C'#$4C'/'%"'+';$/+"'-&$,$%'-G'9-*/$/$5*+"*#*
$ $-#*5'%'+* 82$ $B*4'B' '5A/ +"##* ' /'"# ,%*<'-' %$4*%+'()* +$ 2/'
'%+$-&$ "&'5"'-' 82$ $5$ 4*-C$4$%' '-&".'/$-&$ 82'-+* $%' $#&2+'-&$ -'
2-"B$%#"+'+$ +$ [*%c ]^_ 5A/ +"##*9 ,'%$4"' ' $5$9 *5C'-+* +$
+$&$%/"-'+' /'-$"%'* /','+'"5C'82$$5$+$#$-C'%'',%*@"/'&"B'/$-&$9
82$ $5' ,*+"' <".2%'% * ,$%<"5 +$ 2/ 4*%,* <$/"-"-* #$/ 4':$('9 2/'
/25C$%9#"/9#$-&'+'9'#,$%-'#+*:%'+'##*:$5'9-2/''&"&2+$$/82$-)*
#$&$%"',*+"+*+"#&"-.2"%*82$C'B"'+$#2:/"##)*9+$/$+**2+$#"/,5$#
':'-+*-*=?M9= X9,YN1YW9&%'+2()*-*##'O
"5C'9,'%'*:"-#*-9'##2/$9','%&"%+$$-&)*92/',$%#*-'5"+'+$<$/"-"-'95".'+'
'*#B'5*%$#+$%$<Z."*$+$"-&"/"+'+$= M`9= ??9,>9&%'+2()*-*##'O4*/'
82'5 $5$ $#&':$5$4$%3 2/' %$5'()* +$ #$-#2'5"+'+$ ##' ,$%#*-'5"+'+$ +' "5C' '4':' -)* #$
+$<"-"-+* $-&%$ '# <".2%'# +$ /)$ *2 +$ $#,*#' '#9 4$%&'/$-&$9 ,'%' *:"-#*-9 &$/
,$%#*-'5"+'+$C2/'-'
=X
!;$&"*$M-&-$*;$-;P--9-$M9= X9,=?O
=?
-9!-;P-;&&--$9&F*9-<$---9!9'!$$-$D
& ';$$-!;-'$6!-9$$9$$7-;'$9;()2
=>? - - -$ ;--* %$ ; $ 8 - $ -;P- !;- '$ 9
&&<$'$* !;-- &'$ % - & - ; & 9 $:$* * * * -
6&-9--*$$$C-;;$&9:-!;-.'$*&
&-2M9= X9,YN1YWO
= -9<'- %$;$$9M`9= ??9,>O
W
,%*@"/"+'+$<'G4*/82$*:"-#*-9$/+$&$%/"-'+''5&2%'-)*+"#&"-.'/'"#$-&%$
#" /$#/* $ ' "5C'9 4*/* '4*-&$4$ -*# /*/$-&*# +$ %$<Z."* -' 4*-4'B"+'+$ +' .%2&' $-4'-&*+$##'<2#)*B"B$-4"'+'4*/,$%'-G'#0#$82$:%'',0#'4C$.'+'+$$-+%$+"$'
"-#&'2%'()*+$2/'-*B'*%+$/-'"5C'
+$#4%"()* +* $#,'(* #'" +* J/:"&* &$5Z%"4* $ '+$%"%3 ' 2/ 4'%3&$% /'"# 'A%$* #
$#,'(*#,%$+*/"-'-&$#+$"@'/+$#$%'&$%%'9'5'/'9'.%2&'9'4*/:$$,'##'/'#$%*&*,*
+'# 3%B*%$#9 * '5&* +$ 2/' 4*5"-' $ * ,%0,%"* 4A2 $#,'(* #$ '/,5"'9 4*/* #$ * ,%0,%"*
%2#*$#';##$+$2/'+$-#'<5*%$#&'$,'##'##$,'%'2/4'/,*'4A2':$%&*
4'%'4&$%"G'()* &)* ,'%&"425'% +' "5C' +$B$1#$9 -$##$ 4'#*9 E $#&%$"&' 5".'()* +*
%*/'-4$4*/'/"&*5*."'$#,'(*+'"5C'+$B$%$,%$#$-&'%2/$#,'(*,%"/*%+"'59*2#$P'9
2/$#,'(*4*/,*&$-4"'5,'%'+'%%=E#4*"#'#/$#,'(*"-+$<"-"+*$-&%$4A2$&$%%'9
'-"/'5$B$.$&'59*-+$&*+'#'#<*%/'##)*C;:%"+'#,$%'-G'A*5*4'5"+$'5,'%'82$%2#*$
,*##'%$&*%-'%'*/*/$-&*+'4%"'()*$%$-'#4$%9A2/52.'%82$-)*#*<%$2'"-<526-4"'+'
C"#&0%"'
*#%*/'-4$#+$"4C$5*2%-"$%9*$#,'(*/;&"4*A9,*"#9$#,'(*B"%.$/9
$B*4'+*%+*/2-+*+'.6-$#$*-+$*#$5$/$-&*#$#&)*'"-+'/"#&2%'+*#9*
C*/$/$*/2-+*<'G$/2/#0`&'/:A/2/$#,'(*+*&'+*+$B"+'$+$
'5/']^_#,'(*$+6-"4**2"-<$%-'59$5$,%$,'%'*C$%0"9-*42%#*+$#2'
B"'.$/ "-"4"3&"4'9 ,'%' %$4$:$% 2/' %$B$5'()* M`9 = ??9 ,
> 9&%'+2()*-*##'O
*%*2&%*5'+*9C32/',%$*42,'()*+','%&$+*'2&*%4*/*%$'5"#/*+*$#,'(*82$
+$#4%$B$*#&'#+$5'+*9&*+'#'#"-+'.'(I$##*:%$'$@"#&6-4"'%$'5*2-)*+$#&'"5C'*2+$
4'%'4&$%;#&"4'# 82$ 5C$ ,$%/"&$/ $#&'% $-B*5B"+' ,*% 2/' '&/*#<$%' /;&"4'9 #2' +$#4%"()* A
:'#&'-&$ /"-24"*#' $ +$&'5C'+'9 $/ *2%-"$% &'-&* 4*/* $/ $<*$ 4'%'4&$%;#&"4' C':"&2'5
+'#-'%%'&"B'#%$'5"#&'#
$*$#,'(*A+*&'+*+$2/''2%'<'-&3#&"4'"##*#$+$B$/'"#'*4'%3&$%$@4$,4"*-'5
$@$%4"+* ,*% 82'582$% "5C' -* "/'."-3%"* ,*,25'% $ '*# '4*-&$4"/$-&*#9 $##$# #"/
#2%,%$$-+$-&$#982$#24$+$/'*:"-#*-
-#-"*-;&.$#!$&'%*9'$-
%D+-9-9$.$:-9*-;#$-;. $!;2;$&9'
$;X2=>?&99! -*-&9&-#9*'.%$$!*7'
9'9-$2M`9= ??9,> O
X
8-;$%
$<*$"-"4"''C"#&0%"'+$*:"-#*-%2#*$','%&"%+$#$2-'#4"/$-&*9$/=W>9/'#'
-'%%'&"B' ',$-'# &*/' 4*%,* ,*"# '&A $-&)* <*%' 2/' :%$B$ +$#4%"()* +'# %$5'(I$# +$
*:"-#*- 4*/ #2' <'/;5"' 82'-+* ' ,$%#*-'.$/ &$/ P3 = '-*#9 $/ =WN=9 $ %$'5"G' #2'
,%"/$"%' B"'.$/ -'2<%3."* 82$ 4*-+$-' *:"-#*- '* "#*5'/$-&* *4*%%$ -* +"' > +$
#$&$/:%*+$=WN $*%$#.'&$+31#$'=N+$+$G$/:%*+$=W?W
$,*"#'-'%%'&"B',%*##$.2$
'&A4$%4'+$=W Y4*-&'-+**#24$##*+$*:"-#*--*#$2%$&*%-*E4"B"5"G'()*
'C"#&0%"'+$*2%-"$%-)*C3'-&$#$+$,*"#+'"5C'/$#/*,*%82$*:"-#*--)*
#$%3 %$#.'&'+* -'%%'()* #$ 5"/"&' '* ,$%;*+* +$ &$/,* +$4*%%"+* +$#+$ ' 4C$.'+' +$
*:"-#*- $/ ,$%'-G' '&A * $-4*-&%* 4*/ ''-9 * ,$82$-* .%2/$&$ +* HC"&$:"%+ #
"-<*%/'(I$# *:&"+'# #*:%$ * ,'##'+* +$ *:"-#*- &6/ 4*/* <*-&$ ',$-'# '5.2/'# ,*24'#
,'5'B%'#+*4',"&)*'-
$R##$59'"-+'-*,%$<34"*9$$#,'%#'#%$<$%6-4"'#:'#&'-&$#2:P$&"B'#
+*,%0,%"**:"-#*--'2<%3."**4*%%$&'/:A/9-*+"'>+$#$&$/:%*9/'#-*'-*+$=XN $ * -'B"* 82$ ,*+$%"'%$#.'&315*',*%&' -' "5C'$/ = +$ +$G$/:%* +$ =X?X -'%%'()*#$
$-4$%%'-*+"'#$.2"-&$
39 ,*%&'-&*9 2/ #A425* 82$ #$ "-&$%,I$ -' 4%*-*5*."' +'# -'%%'&"B'# $.2-+*
'"55'%+ M=
>9 , ==9 &%'+2()* -*##'O9 ' /2+'-(' ,%*,*#&' ,*% *2%-"$% &$/ 2/ /*&"B*
45'%*9 ,*"# '.*%'*:"-#*- A B$%+'+$"%'/$-&$ 2/ C*/$/ +* #A425* Q9 2/ C*/$/ +'
$%' "-+2#&%"'5 4*-<5"&* $-&%$ * /2-+* 4"B"5"G'+* $ * /2-+* #$5B'.$/ #$%3 :$/ /'"#
$#&'%%$4$+*%=
4C$.'+'+*HC"&$:"%+9'5A/+"##*9'4*-&$4$$/=X?X$9-)*$/=X?W94*/*#$%"'+$
#$ #2,*% ,'%' $#&':$5$4$% &'/:A/ $-&%$'# +'&'# 2/ #A425* +$ +"#&J-4"' H'&& M=
XO #2,I$
82$$##'+"#4%$,J-4"'A'<*%/'$-4*-&%'+',*%*2%-"$%,'%'4*%%"."%2/$%%*+$435425*<$"&*
,*%
$<*$$5$'<"%/'82$*:"-#*-,'##*2B"-&$$*"&*'-*#9+*"#/$#$#$+$G$-*B$+"'#-'
"5C'9/'#-'B$%+'+$9,$5'#+'&'#$#4*5C"+'#,$5*'2&*%9*,$%;*+*&%'-#4*%%"+*A+$B"-&$#$&$
'-*#9+*"#/$#$#$+$G$-*B$+"'#
"-.25'% &'/:A/ A ' /'-$"%' 4*/* ' ,'##'.$/ +* &$/,* A $-4'%'+' -' *:%' +$
*2%-"$%,%"/$"%**:"-#*-$#&':$5$4$2/'4*-&'.$/$@'&'+*+$4*%%$%+*#'-*#9+$#+$'
#2'4C$.'+'E"5C'2'-+*A%$#.'&'+*,$%4$:$2/$%%*+$',$-'#2/+"'-*#$2435425*+*
&$/,* &%'-#4*%%"+* $%%*9 $ $5$ /$#/* $#&3 4"$-&$ +"##*9 +$B$1#$ ' 2/' *4'#")* +$
=
$-$#YD-*#-;D$--2 -$$-
'-9$-'%;!&- &&$2M
9= >9,==O
?
'+*$4"/$-&*F ',0# &*/'% 2/' "-<2#)* +$ <*5C'# +$ &':'4*9 ,'##' 2/ +"' $ +2'# -*"&$#
+*%/"-+*9&$-+*,$%+"+*$-&)*2/+"'-*#$24'5$-+3%"*
'%'**:"-#*-+$"4C$5*2%-"$%9'4*-&'.$/+*&$/,*A:'#&'-&$"%%$.25'%2"&*
,$%&2%:'+*-*/*/$-&*+'4C$.'+'E"5C'9$5$-)*#$,%$*42,'$/4*-&'%*&$/,*9'4%$+"&'-'
,*##":"5"+'+$+*%$#.'&$$/,*24*#+"'#2'-+*%$#*5B$4*/$('%'<'G$%2/'4*-&'.$/9P3
#$,'##*22/4$%&*,$%;*+*"/,*##;B$5+$#$%+$&$%/"-'+*
5$ -$.5".$-4"'B' &*/'% -*&' +*# +"'# 82$ ,'##'B'/ ':$%"' +' :*4' +$
#$2# #'5B'+*%$# 82'-&* &$/,* #$ ,'##'%' +$#+$ * -'2<%3."* +' "%."-"$
##"/ -)* #*2:$ -2-4' ,%$4"#'/$-&$ '* <"/ +$ 82'-&*# +"'#9 #$/'-'# *2
/$#$#9 #2' "-'&"B"+'+$ $ #2' B"."5J-4"' ,'##"B' +* C*%"G*-&$ 4*/$('%'/ '
5C$,$#'%M9= X9,9&%'+2()*-*##'O
' B$%+'+$9 ' $B*52()* #*<%"+' ,*% *:"-#*- '* 5*-.* +$ &*+' ' *:%' * $-4'/"-C'
,'%' 2/' ':*5"()* +* &$/,* 4%*-*50."4* $ $##' -$4$##"+'+$ 4"B"5"G'+' +$ 5*4'5"G'% *#
'4*-&$4"/$-&*# $/ 2/ +"'9 /6# $ '-* ,'##'%3 ' #$% "-#".-"<"4'-&$ ,'%' * C$%0" $#+$ *
4*/$(* +$ #2' ,$%/'-6-4"' -' "5C' * -'%%'+*% P3 -*# '5$%&' #*:%$ * <'&* *:"-#*-
$-4*-&%'B'1#$'5"P'+*+*4'5$-+3%"*+*#C*/$-#94*/*$5$$#&'B'#$,'%'+*+$5$#,$5'#3.2'#9
$%$+2G"+*'B"B$%$/2/'"5C*&'+$&$/,*94*/*$/2/'"5C'-*$#,'(*>M9
= X9,YN9&%'+2()*-*##'O
* "-"4"'% #2' 4*-&'.$/ +* &$/,*9 *:"-#*- -)* #$ ,%$*42,' $/ $#&':$5$4$% 2/'
+'&'982$#$%"'95*."4'/$-&$9'%:"&%3%"',$-'#*-'%%'+*%$/&$%4$"%',$##*'9B$G,*%*2&%'+3
'5.2/'#%$<$%6-4"'#+$,'##'.$/+*&$/,*95*4'5"G'-+*2/'4*-&$4"/$-&*&%6#+"'#+$,*"#
*2/$#$#+$,*"#
#2'*%.'-"G'()*A%$#&%"&'E+"B"#)*+*#+"'#+'#$/'-',*%82$$%'&$%('1<$"%'
'##"/*+$&$%/"-'B'#$2$/,%$.*+*&$/,*^YM9= X9,NN9&%'+2()*-*##'O
$+'#C*%'#+*+"'9'<"/+$/'-&$%'*%.'-"G'()*&$/,*%'5+$#2'#'&"B"+'+$#9+*&'+'#+$2/'
%$.25'%"+'+$-)*',$-'#82'-&*'*C*%3%"*9/'#&'/:A/C$:+*/'+3%"'/$+"()*+'#C*%'#
-9%-%$$-&$6!&$2-&&$-#'$
$&;9$$9-9&- %-%2$M-6&99$$
6**$'$9$'--&'-;#FD$7
-&2M9= X9,O
>
$'$&9-#*-9$$9&9;<&-<*$9$7
''P-$$&*P--;&2M9= X9,YNO
Y
&!;9$$U-'-$&-$&>M9= X9,NNO
+*+"'9'5"3#9A/'"#2/+*#'B'-(*#$/%$5'()*'**:"-#*-+$
$<*$,%"/$"%*%2#*$
&"-C'&*&'54*-&%*5$#*:%$'+'&'9/'#',$-'#,*+"'$#&':$5$4$%'C*%',$5'*:#$%B'()*+*#*5
'#2':2#4'*:#$##"B',*%',%*@"/'%1#$+*82$$5$4*-#"+$%'/'"#C2/'-*9'4"B"5"G'()*9*
*:"-#*-+$*2%-"$%4*-#&%0"2/'45$,#"+%'
%' #"/,5$#/$-&$ 2/ .'%%'<)* +$ B"+%* &%'-#,'%$-&$ 42P* <2-+* $5$ C'B"'
,$%<2%'+*4*/2/,$82$-*:2%'4*,*%*-+$'3.2'B'G'B'.*&'E.*&'$/
2/':'4"'+$4*:%$4*5*4'+'-*4C)*.'%%'<)*5$B'B'$@'&'/$-&$B"-&$$
82'&%*C*%'#,'%'#$$#B'G"'%-':'4"'9$*:"-#*-%"#4'%'#$2#<5'-4*#4*/
B"-&$ 82'&%* 4;%425*# ,'%'5$5*# /'%4'+*# 4'+' 2/ 4*/ 2/ '5.'%"#/*
%*/'-* ##"/ * -;B$5 +* 5;82"+* +'B' ' C*%' ' &*+* * /*/$-&*N
M9= X9,WW9&%'+2()*-*##'O
$##$/*+*9$5$&$/',*##":"5"+'+$+$#':$%'#C*%'#$-82'-&*$#&3+$-&%*+'.%2&'
*2/$#/*+2%'-&$'-*"&$%6#C*%'#+'/'-C)2/"-*#'"-#V-"'WM9= X9,
?Y9&%'+2()*-*##'O
'#2/+"'9+$,*"#+$$#82$4$%1#$+$%$4*/,*%'3.2'+*%$50."*E-*"&$9*:"-#*-
#$-&$1#$ $-B*5B"+* ,*% 2/ .%'-+$ :$/1$#&'%9 %$B$5'+*% +$ 2/' *2&%' "5C' ,'%'+' +'
45$,#"+%' "/,5"4'B' &'/:A/ 2/' "-&$%%2,()* +$ #2'# *:%".'(I$# ,0# &'5 +$#4*:$%&'9 $/
+$&$%/"-'+'# *4'#"I$#9 $5$ $-&%$.'1#$ ' *2&%'# $@,$%"6-4"'# -' "5C'9 82$ -)* $-B*5B$/ '
+"#4",5"-' %;."+' +* &%':'5C* *2 +'# 4$%"/V-"'# %$5"."*#'# $ 5$."#5'&"B'# ,'%&"% +';9 $5$
%$4*%%$2<%$82$-&$/$-&$E,'%'+'+'45$,#"+%','%'$-&%$.'%1#$'$@,$%"6-4"'#82$5":$%&'%"'/
&'5B$G2/+"'**:"-#*--*B*+'4%"#35"+'*-+$$5$+*%/"''"-+'XM9= X9,
Y9&%'+2()*-*##'O
,%$*42,'()* 4*/ ' 4*-&'.$/ +* &$/,* A &*&'5/$-&$ ':*5"+' ',0# ' $@,5*#)* +'
.%2&' ,'%&"% +';9 $5$ A /$+"+* ,$5'# #$-#'(I$# ,$%4$,()* +* &$/,* A #2:P$&"B' '%'
*:"-#*-9$5$-)*,'##'/'"#)*C32/'#24$##)*+*#+"'#9/'#2/'%$,$&"()*"-<"-"&'+*
/$#/* "-#&'-&$ C"#&0%"' .'-C' 2/' -*B' +"/$-#)* <*%' +* &$/,* $ "-#&'5'1#$
4*/,5$&'/$-&$-*/"&*'%'*C*/$/,%"/"&"B*9.%'-+$#'4*-&$4"/$-&*#+$B$%"'/%$,$&"%*
N
;9$$&-$'$&$$-'$&9--;&$$$&C-;
.$%$$7%$$'&9--2$$$<$$'%$M!$#
7'-*$'$$9 -'%$M!$-&--D-!9#;
# *-'-!$-;#7$$$2M9= X9,WWO
W
X
"#$2M9= X9,?YO
9 - $ '$ 7 -;:$ - -& & -' 7 <&9 ! 9%%$
&$M:$6-'-#.-C-$2M9= X9, YO
>
#$2 /*/$-&* ,%"/*%+"'59 '&%'BA# +$ 2/ %$&*%-* -* &$/,* ,*%82$ A #$/,%$ '&%'BA# +$ 2/
%$&*%-*#"/:05"4*'*"-#&'-&$'&$/,*%'5+',5$-"&2+$,%"/*%+"'582$#$$#,$%',$5'.'%'-&"'+'
,$%<$"&' %$'5"G'()* +$ 4'+' 2/' +$##'# #"&2'(I$# M
9 =
9 , XNO $##' <*%/'9 #$
*:"-#*- $#&3 B"B$-+* ' #"&2'()* +$ $&$%-* %$&*%-*9 &*+'# '# #2'# '(I$# $ &*+*# *#
'4*-&$4"/$-&*#+'"5C'&$-+$/,'%''.'%'-&"'+$,5$-'$,$%<$"&'%$'5"G'()*
$#+$82$'$@,5*#)*+$#&%2"2*/'#&%*14'5$-+3%"*9$2-)*#$-&"-$4$##"+'+$
+$ /'-&$% ' 4*-&'.$/ +$ /$2 &$/,* 5$/:%'-(' +'82$5$ '4"+$-&$
/$/*%3B$5$+$&2+*'82"5*82$*,%$,'%*2,$%/'-$4$$//$2$#,;%"&*4*/
2/'B"B'4"+'+$$2/<%$#4*%"-'5&$%3B$"#9,%*B'#2,5$/$-&'%+$82$*&$/,*
#$4*-.$5*2-*/*/$-&*$/82$'45$,#"+%'B*'B'$/,$+'(*#
$#+$$-&)*
-)* #$%3 -' $&$%-"+'+$ 82$ $#&'/*# "-#&'5'+*#9 $-+%$+" $ $2b?
M9= X9,= 9&%'+2()*-*##'O
Z-"4',$%4$,()*&$/,*%'5A'+"<$%$-('$-&%$+"'#$-*"&$#9/'##$/82$"##*+6'
-*()* $@'&' +' ,'##'.$/ +* &$/,* '* ,$%#*-'.$/9 ,*"# $5$ ,'%$4$ %$B"B$% #$/ 4$##'% *
/$#/*+"' M9= X9,= 9&%'+2()*-*##'O
"-#&'2%'()* +* &$/,* 4;45"4* ',%*@"/' *:"-#*- +$ 2/' $@"#&6-4"' #"/"5'% E +*#
+$2#$# *2 +*# C$%0"# /;&"4*#9 "-#&'5'+*# -' $&$%-"+'+$ $.2-+* *25*2/"A M= ??9 , Y>9
&%'+2()* -*##'O9 %$+$#4*:%"-+* * &$/,* 4;45"4*9 "-B$%&$-+* * 42%#* +* &$/,*9 * C$%0" +*
%*/'-4$/"&*50."4*94*/*'82$5$+'$,*,$"'9*:&A/*#$.%$+*+'"/*%&'5"+'+$>
C"#&0%"' &$/ &'/:A/ '#,$4&*# 4*/2-# E# -'%%'&"B'# 2&0,"4'#9 ,*"# ,%*,I$ 2/'
%$'5"+'+$+"%$4"*-'+'E,$%<$"()*$2/'%2,&2%'4*/*%$#&'-&$+'#*4"$+'+$2&*,"'9*-)*1
52.'%9 A +"<$%$-&$ +'82$5$ $/ 82$ B"B$/*#9 #$P' ,$5' *%.'-"G'()* #*4"'59 ,$5'# %$5'(I$#
"-&$%,$##*'"# *2 ,$5* 4*&"+"'-* "-4*/2/ # &%6# '#,$4&*# /$#45'/1#$ -' &%'P$&0%"' +$
*:"-#*-&$/,*-'"5C'+$%2#*$A"/:2;+*+$2/'*2&%'+"/$-#)*94','G+$+*&315*+$
4','4"+'+$##*:%$1C2/'-'#'"5C'9*:"-#*--)*$-B$5C$4$$&$/2/B".*%<;#"4*#2,$%"*%
'* 82$ $5$ ,*##2;' -' ,%0,%"' P2B$-&2+$ $.2-+* '"55'%+ M= >9 , 9 .%"<* +* '2&*%9
?
&!-;<&-9$$-X$M-*6;&9&'9-$-&$
$&2'$$9-$$$!-;&9&9&$'
''$9$ P#-$9-*&'&&-9$!-$&;$ %9$C--&.
'-$ 9-$2 D - ;$M & -;9$$9 ! $--9* $ O
M9= X9,= O
>
''-:69M9= X9,= O
9'$-$&.-!*'$-$&*-#9.$#-%!*
--;9&&9*$$-$-;$-$92M`9= ??9,Y>O
>=
&%'+2()* -*##'O $##' 2&*,"' A &'/:A/ '82"5* 82$ ,*+$%"' #$% 4C'/'+* 2/' K%L9 '
K-$.'()*+*&$/,*L9,*%82$$#&$-)*A/'"#/$+"+*>=
8-<%=#>
5$ $%' 2/ "-+"B;+2* 4*/ :*/ '#,$4&* :$/ 4*-#&"&2;+* 4*/ /$/:%*#
<*%&$#9/'#-)*/2"&*5'%.*9'5&*$:$/&*%-$'+*9$4'5425*82$4*/4$%4'+$
B"-&$ $ #$"# '-*# "-C' :*/ '#,$4&*9 -$/ <$%*G -$/ .%*##$"%*9 ,'%$4$-+*
,*##2"% 82'582$% 4*"#' +$ B'%*-"5 -' 4'%'9 #$ :$/ 82$ &"B$##$ &'/:A/ '
+*(2%' $ ' #2'B"+'+$ +$ 2/ $2%*,$29 ,%"-4",'5/$-&$ 82'-+* #*%%"' #$2
4':$5* $%' ,%$&* $ .%'-+$9 /'# -)* $%' $-4'%'4*5'+* 4*/* 5)F &"-C' ' &$#&'
'5&'$5'%.'$2/:%"5C*"-&$5".$-&$$B"B*-*#*5C*#4*%+',$5$-)*$%'
,%$&'9/'#/2"&*/*%$-'9/'#-)*+'82$5$C*%%;B$5,'%+*+*#%'#"5$"%*#$
"%."-"'-*#$*2&%*#-'&"B*#+'/A%"4'F&"-C'2/'4*%#$/$5C'-&$E+$2/'
'G$"&*-'4'#&'-C*1$#42%'$:%"5C'-&$982$&"-C''5.*+$/2"&*'.%'+3B$59/'#
-)*$%'<34"5+$#4%$B$%4'%'$%'%$+*-+'$%$4C*-4C2+'92/-'%"G,$82$-*
$ -)* '4C'&'+*9 4*/* * +*# -$.%*#9 2/' :*' :*4'9 +$ 53:"*# <"-*#9 $ *#
+$-&$# ,$82$-*#9 :$/ 4*5*4'+*#9 &)* :%'-4*# 4*/* * /'%<"/ M
9
= XN9,= XO
+$#4%"()*<;#"4'+$$-+%$+"$/
'-"$5
$<*$A+$&'5C'+'-$##$5*-.*&%$4C*$'*
/$#/* &$/,* $/ 82$ +3 ' "+$"' $@'&' +' ','%6-4"' +* "-+;.$-'9 %$B$5' * ,%$4*-4$"&* +$
*:"-#*-%2#*$M$9+$/*+*.$%'59+*#$2%*,$2#9-'A,*4'O$/%$5'()*'*#-$.%*#*:"-#*-
'5$.%'1#$$B64$%&':$5$G'$/$@&'1$"%'9,$%4$:$-+*#$/$5C'-('4*/*#$2%*,$2#$/'"#
82$"##*9-$-C2/&%'(*+'%'('-$.%'9-$/-'4*%+',$5$4*/*&$/'/'"*%,'%&$+*,*B*
:%'#"5$"%*$+$*2&%*#-'&"B*#+'/A%"4'92/'/"#&2%'+$:%'-4*#9;-+"*#$-$.%*#9-$/*#
4':$5*#$-%*5'+*#*2*#/'@"5'%$#<*%&$#*2*-'%"G'4C'&'+**2*#53:"*#.%*##*#+*#-$.%*#
9',$#'%+$&*+'#$##'#B'-&'.$-#9*:"-#*-*4*-#"+$%'#$/,%$4*/*"-<$%"*%92/4%"'+*9
,*%#2'*%".$/"-+;.$-'
"-#".-"<"4J-4"'+$$@&'1$"%','%'*+$#$-B*5B"/$-&*-'%%'&"B*-'*:%'+$
$<*$
A $B"+$-&$ ` 2/ #$5B'.$/ 82$ '4$"&' '# "/,*#"(I$# +$ 4"B"5"+'+$ 82$ *:"-#*- 5C$ "/,I$
,%'&"4'/$-&$#$/82$#&"*-'%2/,'##$+$/3."4'9$5$':'-+*-''#,%3&"4'#+$#2'425&2%'$
'+*&' '# +$ *:"-#*- 4*/* B$%+'+$# "%%$<2&3B$"# 2' ','%"()* 4*-4*%%$9 -' B$%+'+$9 /'"#
,'%' ,$%/"&"% ' *:"-#*- /'"*% 6@"&* $/ #2'# %$'5"G'(I$# +* 82$ ,'%' '4%$#4$-&'% 2/'
>=
$$$&$!&$:$&&-9G;*-G9%$$&;*&!-M
;$&-92M
9= >9, 9.%"<*+*'2&*%O
>
,$%#*-'.$/ -*B' E -'%%'&"B'9 P3 82$ $@&'1$"%' -)* &$/ "-+"B"+2'5"+'+$ $@,5;4"&' 5A/
+"##*9'4*5*-"G'()*$'$@,5*%'()*+*#,*B*##2:+$#$-B*5B"+*#4*-+"G,$%<$"&'/$-&$4*/
'/$-&'5"+'+$$#4%'B*4%'&'+'#*4"$+'+$+*,$%;*+*
0A ,*##;B$5+$#4%$B$%$@&'1$"%'<"#"4'/$-&$9 82'#$ -'+' #$ ,*+$ +$,%$$-+$% +$
#$2# #$-&"/$-&*#9 +$ #2'# ,'"@I$#9 ' -)* #$% #$2 '/*% "-4*-+"4"*-'5 ,*% *:"-#*- #$-&"/$-&*+$.%'&"+)*,*%*:"-#*-&$%15C$#'5B'+*'B"+'A#2,5'-&'+*,*%2/'$#4%'B"+)*
4*-#$-&"+'Z-"4*,',$5'$5$4*-4$+"+*A*+$4%"'+**:"-#*-&%'&'$@&'1$"%'4*/*
2/' <*5C' +$ ,',$5 $/ :%'-4*9 -' 82'5 A ,%$4"#* &2+* "/,%"/"% 425&2%' +* "-+;.$-' -)*
,%*B*4' $/ *:"-#*- 82'582$% &",* +$ 42%"*#"+'+$9 ',$-'# ' %$,2.-J-4"' ,*% #$2# C3:"&*#
4'-":'"# #$5B'.$/ A 2/ 4%"'+* 82$ #2%.$ ,%*B"+$-4"'5/$-&$ -* /*/$-&* $/ 82$
*:"-#*-#$#$-&$/'"#'<5"."+*,$5'#*5"+)*5A/+"##*9/$#/*82$*:"-#*-&$-C'<$"&*+$
$@&'1$"%' 2/ :*/ 4%"#&)* -2-4' +$/*-#&%' 4*-#"+$%315* #$2 ".2'5 $ B*5&' E 2%*,'9
*:"-#*-5$B'$@&'1$"%'82$*'4*/,'-C*2#$/,%$$/&*+'#$#&'#+$#5*4'(I$#$/*#&%*21
#$#$/,%$2/4%"'+*<"$5M
9= XN9,WYOB'5*%'&%":2;+*'$@&'1$"%'A*/$#/*
+"#,$-#'+*E"5C'9*2#$P'92/'<*-&$+$$@,5*%'()*
$@&'$"%'A2/',$%#*-'.$/&*&'5/$-&$+$#"-&$%$##'-&$-&%$&'-&*9$#&345'%*82$
' <%'82$G' +' 4'%'4&$%"G'()* +* 4%"'+* +$ *:"-#*- -)* %$,%$#$-&' 2/' <'5C' -' *:%' +$
$<*$9 '-'5"#'+*# *# ,'+%I$# +$ ,$-#'/$-&* +' A,*4' * /*#&%'% $@&'1$"%' 4*/* 2/
"-+"B;+2* /$+;*4%$9 $<*$ ',$-'# %$<*%(' *# ,%$4*-4$"&*# B".$-&$# -* #A425* Q 2/
,$%;*+*$/82$*%'4"*-'5"#/*9'4"6-4"'$'&$4-*5*."'#)*4'%'4&$%;#&"4'#<2-+'/$-&'"#,'%'
#$ ,$-#'% * C*/$/ /*+$%-*9 -)* #$ ,*+"' 4*-#"+$%'% '5.2A/ B"-+* +$ 2/' #*4"$+'+$
,%"/"&"B'9 #$/ 82'582$% &$4-*5*."'9 4*/* ,*%&'+*% +$ 82'582$% &%'(* +$ C2/'-"+'+$ *2
'2&*-*/"'5A/+"##*9*<'&*+$&*+''-'%%'()*#$%',%$#$-&'+'$/,%"/$"%',$##*'9+$"@'
$/+$#B'-&'.$/',%$*42,'()*$/$@,*%*#'#,$4&*#5".'+*#E"-&$%"*%"+'+$+$$@&'1$"%'
/ *2%-"$%9 '4*-&$4$ ,%'&"4'/$-&$ * *,*#&* 82'-&* E 4*/,*#"()* +$ $-+%$+"9
&'-&*-*82$+"G%$#,$"&*'*<;#"4*982'-&*E4'%'4&$%"G'()*+$#2',$%#*-'5"+'+$
$#/* #$/ <'G$% 2/' +$#4%"()* +$&'5C'+' +' ,$%#*-'.$/9 *2%-"$% +$"@' #':$%9
'&%'BA#+'"-&%*+2()*+$*:#$%B'(I$#$/<%'#$#$#,'%#'#9#*:',$%#,$4&"B'9-'/'"*%,'%&$+'#
B$G$#,%$4*-4$"&2*#'9+**5C'%+$*:"-#*-9*$B"+$-&$,'%$-&$#4*+$$-+%$+"4*/-$.%*#
**,*#&*+*#;-+"*#82$&6/*,A,$82$-*$','-&2%%"5C',%*$/"-$-&$9$-+%$+"',%$#$-&'
* ,A 4*/,%"+* $ ' ,'-&2%%"5C' ,*24* #'5"$-&$9 4'%'4&$%;#&"4' +' %'(' -$.%'> M9
>
;&&9!$-&&$$$---$&9$*&9$-&-%$---$
9*$9$!-2M9= X9,=WO
>>
= X9 , =W9 &%'+2()*-*##'O $-+%$+" A 2/ /$#&"(* / ;-+"* /"#&2%'+* 4*/ -$.%*>>
M9= X9=YW9&%'+2()*-*##'O9/$%.25C'+*-*#/$#/*#,%$4*-4$"&*#+**2&%*
*:"-#*-9/'#'.*%'4*-<%*-&'+*4*/'#"&2'()*+$2/#$5B'.$/82$&$/%$'5/$-&$&%'(*#
+'%'('-$.%'9',%"-4;,"*9*,%*&'.*-"#&'+$*2%-"$%-)*4*-#$.2$$-@$%.'%-$-C2/':$5$G'
$/$-+%$+"
,$.'+* '*# #$2# ,%$4*-4$"&*#9 ',$-'# 2/' /2+'-(' :%2#4' -* ,$-#'/$-&* +$
%2#*$ ,*+$ $-#"-'%15C$ ' $-@$%.'% $/ $-+%$+" '5.* '5A/ +$ #2' "-<$%"*%"+'+$ +$ %'(' /$&'/*%<*#$ +$ *:"-#*- '4*/,'-C'1#$ +$ 2/' -*B' ,$%4$,()* +* '%'24'-* /'
,$%4$,()*<%'./$-&'+'9/'#$B*52;+'.%'+2'5/$-&$
"%'-+* 2/ ,*24* ' 4':$(' ,'%' ' $#82$%+'9 $5$ B6 * ,$%<"5 +"%$"&* +$
$-+%$+" ]^_ *:"-#*- *:#$%B'9 4*/* #*: 2/' 52,'9 $##' /3#4'%' +$
/'@"5'% ,%*$/"-$-&$9 2/ ,*24* :$#&"'5 ]^_ ` $-&)* 82$ $5$ -*&' -$#&'
,'"#'.$/ +$ 4'%-$ #*<%"+' $ <$"' '5.2/' 4*"#' +$ :%"5C'-&$9 +$ ,2%* $
+$5"4'+* * *5C* +$ $-+%$+" ]^_ *:"-#*- $#&3 <'#4"-'+* ,*% $##$ 0%.)*
&)*C':"5/$-&$4*/,*#&*9&)*,$%<$"&'/$-&$-*B*$:%"5C'-&$&'/:A/*/*
2/' #$/$5C'-&$ /'%'B"5C' ,*+$ $#&'% "-4*%,*%'+' ' 2/ #$% &)* .%*##$"%*9
"-.%'&*$B25.'%b>YM9= X9,=?1=?=9&%'+2()*-*##'O
0 +$,*"# +' $@,5*#)*9 +$,*"# +$ $#&':$5$4"+' 2/' -*B' *%+$/ -' "5C'9 *:"-#*-
,'##' ' +"#&"-.2"% 2/' $@4$,4"*-'5 :$5$G' $/ $-+%$+" 5$ B'"9 ,*%&'-+* #2' 4'%-$ 4*/
2/'*#&$-&'()*#*:$%'-'9$-4'/"-C'-+*1#$,'%'<%$-&$4*/*2/*#&$-#0%"*+$4'%-$$5$G'
$B"+$-&$9 :%2&'59 82$ ,'%$4$ 4%"'% * -'+' $/ #$2 $-&*%-*>N M9 = X9 , =9
&%'+2()*-*##'O
5A/+"##*9$-+%$+"A:$//'"#P*B$/+*82$$@&'1$"%'`2/'+*5$#4$-&$2
<"4'%"' #2%,%$#* #$ $5$ &"B$##$ /'"# +* 82$ 82"-G$ '-*#>W M9 = X9 , =YX9
&%'+2()* -*##'O ##$ +$&'5C$ -)* #0 P2#&"<"4' /2"&* +* 4*/,*%&'/$-&* +* '%'24'-*9 4*/*
&'/:A/ $#&':$5$4$ /'"# 2/ +*# ,'%'+*@*# 4*/,*-$-&$# +' *:%' -*B' *%+$/ $/ 82$
>>
X$9D%NM9= X9=YWO
>Y
$$&-$:$7%#*-'$-& -$=>?2'
-& ! &%$#* & $- =>?2 ;$ - !;- ! &.% #
$$-!-!#--$*&$9-$+-;Z-2=>?$ 9
&$% $&9*& $$ $--$2$&--'--&$M
--:$&97:$%*%$$'-%OM9= X9,=?1=?=O
>N
- '* &$$ # ' $$$ '* &$$ '$ $ #2
$99'$*$-*!&P$ -9$$;--2M9= X9,=O
>W
69$9!;-$&-!FM9= X9,=YXO
>Y
*:"-#*-#$"-"4"'9A2/'*%+$//'"#,%0@"/'+*/2-+*"-<'-&"5$<'-&'#"*#*82$+*/2-+*
'+25&*$%'4"*-'5+*82'5'&A$-&)*$5$<'G"','%&$
"/,*%&J-4"' '&%":2;+' ' $-+%$+" $#&3 $@,5;4"&' +$#+$ * &;&25*9 82$ &%'-#<$%$ +$
"/$+"'&*',$%#,$4&"B'+*5$"&*%,'%'*"-+;.$-'9/$#/*82$-)*#$P',%"*%"&3%"''%$B$5'()*
+' "-&$%"*%"+'+$ +* '%'24'-*9 ' "/'.$/ #2.$%"+' +' ,$%#*-'.$/ A ' +$ 2/ "-+"B;+2*
'2&*##2<"4"$-&$9 '2&V-*/* $ $#,"%"&2'5/$-&$ #2,$%"*% ' *:"-#*- -82'-&*9 $/ /2"&*#
&%$4C*#9 '# '&"&2+$# +$ *:"-#*- #)* ',%$#$-&'+'# 4*/* /'-"<$#&'(I$# %"+;425'# +$ 2/ #$%
C2/'-* <%'4* $ "-.6-2*9 4*/ -$4$##"+'+$ 4*-#&'-&$ +$ '2&*'<"%/'()*9 E# B$G$# %$<*%('+'#
,*%2/&*82$+$C2/*%$"%*-"'9$-+%$+"4'&"B'*5$"&*%4*/#2'#"/,5"4"+'+$$"-*46-4"'$/
/*/$-&*'5.2/4*-#"+$%'+'#<'5C'#+$2/4'%3&$%+A:"5*2%2+$
-'%%'()*+'%$5'()*$-&%$$-+%$+"$*:"-#*-9'##"/82$$5$4C$.'E"5C'9+$"@'
#2,*% 2/ #$5B'.$/ #2:/"##* $ #2P$"&* ' &*+*# *# 4',%"4C*# +$ #$2 #$-C*% -'%%'+*%9
$@&$-#)*+'B*G+*,%0,%"**:"-#*-9<'G#':$%82$$5$A+$2/'+*4"5"+'+$,$%<$"&'>X$82$
,$%&$-4$ 4*%,* $ '5/' '* C*/$/ :%'-4*>? M9 = X9 , =Y?9 &%'+2()* -*##'O9
/'# $##'# *:#$%B'(I$##$ %$B$5'/9 -' B$%+'+$9 2/' .%'-+$ "%*-"' 82'-+*9 5*.* -* 4',;&25*
#$.2"-&$9$-+%$+"#'"-2/'$/,%$"&'+',$5'"5C''4*/,'-C'+*,$5*4)*$--9<'G$-+*&2+*
*82$&$/B*-&'+$'82$5$/*/$-&*9$5$$%'#$-C*%+$#"9#$-C*%+'"5C'> M9
= X9 , =NX9 &%'+2()* -*##'O ##$ $,"#0+"* +$#/'#4'%' ' "/,*&6-4"' +$ *:"-#*- $/
$@$%4$% 82'582$% "-<526-4"' #*:%$ * '%'24'-* # Z-"4'# B$G$# $/ 82$ * $2%*,$2 4*-#$.2$
"-#,"%'% '5.2/ %$#,$"&* A <'G$-+* 2#* +' B"*56-4"'9 * 82$ #0 %$<*%(' * #$2 4'%3&$% 4%2$5 $
4"2/$-&*
$-+%$+"#$%3*+$#$-4'+$'+*%+$2/'-*B'<'#$-'B"+'+$*:"-#*-9'##"/4*/*
&'/:A/*##$2#,*-&*#+$B"#&'9*#$2/*+*+$B"B$%9'#2'"+$-&"+'+$"-&$.%'%)**,'+%)*+$
4*/,*%&'/$-&* -' "5C' +$,*"# +' $@,5*#)* '4"+$-&'5 +' .%2&' %$B"%'B*5&' 82$ /'%4' 2/'
-*B'$&','-*+$#$-B*5B"/$-&*+'-'%%'&"B'5$A9%$'5/$-&$9+*&'+*+$2/.%'-+$$#,;%"&*9'
,*-&*+$*:"-#*-"/'."-315*,*##2;+*
B"+$-&$/$-&$ $5$ /$ *:$+$4$ ,*-&2'5/$-&$ $ A :'#&'-&$ $#&%'-C* 82$ $2
/$82$"@$+"##*'#C3-$##'#2:/"##)*'5.2/'4*"#'+$,$%<$"&*+$/'"#9
/$#/*+$/$4J-"4*982$/$$-%$.$5'#$-)*<*##$$#&$%"#*+$B'#&'+*%82$
$5$ ,'%$4$ -)* ,*+$% %$,%"/"% $/ '5.2-# 4'#*# $ 82$ #$ '##$/$5C' E
>X
;-$9& $M9= X9,=Y?O
>?
&&$$&$X7-;#-2M9= X9,=Y?O
>
-9$$P$-*P$-;P-2M9= X9,=NXO
>N
/'-"<$#&'()* %$,$-&"-' +$ 2/ +"':* 82$ $#&'%"' -$5$ *##2;+* "/9
$-+%$+" $#&' ,*##2;+* '&A +2,5'/$-&$ ,*##2;+* *"# A ,%$4"#* /$#/*
%$4*-C$4$%82$E,'%&$#2'#$@,5*#I$#+$%"#*+"':05"4'#9#*2$2"-&$"%'/$-&$
82$/'.$$,$-#'-$5$YM9= X9,=N>1=NY9&%'+2()*-*##'O
$-+%$+" ,'%$4$ P3 $#&'% "-#&'5'+* -* .%'2 +$ $B*52()* $#,"%"&2'5 82$ #0 +$,*"# +$
'-*#-'"5C'*:"-#*-'54'-('%3$"##**&*%-':'#&'-&$#2,$%"*%5$-)*&$/'#+ZB"+'#$*#
/$+*#82$'<5".$/%2#*$5$-)*#$82$#&"*-'9#"/,5$#/$-&$'.$,$%#*-'.$/*:"-#*-
#0 ':'-+*-' #2' 4*-+"()* /$#82"-C' +$ C2/'-* %'4"*-'5 +$,*"# 82$ #$ "-"4"' -*#
$-#"-'/$-&*#+$$-+%$+",',$5'##2/"+*,*%$-+%$+"'##$/$5C'1#$9,*%&'-&*9$/'5.2-#
'#,$4&*#9E82$5$+*"-"4"'+*%9+*/$-&*%+*#%*/'-4$#+$<*%/'()*
*25*2/"AM=
=9,X9&%'+2()*-*##'O4C'/'''&$-()*,'%'';-&"/'%$5'()*82$
#$ $#&':$5$4$ $-&%$ '# <".2%'# +* +$2# "*-;#"* $ ' +* #$5B'.$/ */* "*-"#*9 +$2# +'
5":$%&'()*$+'#2,%$##)*+'#,%*":"(I$#9$-+%$+"5":$%'*:"-#*-+$#$2#,%$4*-4$"&*#$+$
#2'#"-":"(I$#Y=9+$#&'4'-+**,',$5'5&'/$-&$#"/:05"4*82$',$%#*-'.$/&$/-'&%'P$&0%"'
+$$B*52()*+$%2#*$
#$.2"%9+$#&'4'/1#$'5.2-#'#,$4&*#+''##*4"'()*$-&%$',$%#*-'.$/$-+%$+"$
*+$2#.%$.*
"*-"#*
Y=$-+%$+"@
"*-"#*
-&%$'#+"B"-+'+$#+*/2-+*.%$.*9'<".2%'+$
"*-"#*A2/'+'#82$/'"#4C'/''
'&$-()*9 C*P$ $2 425&* <*" :'#&'-&$ +"<2-+"+* -' A,*4' ,*% &%'G$% $/ #" 2/' ,%*/$##' +$
#'5B'()*9'##"/4*/**4%"#&"'-"#/*
4'%3&$% <'-<'%%)* $ P2B$-"59 ' %$5'()* 4*/ * B"-C* $ ' 5*242%' #)* &*+'#
4'%'4&$%;#&"4'#+'<".2%'+*+$2#'4*82$'&%'$/''&$-()*+$/2"&'.$-&$9$#&2+"*#*#*2-)*
+*/2-+*C$5$-;#&"4*
Y
Y=
'$-;9$%$$7-;-*$69$%;&-2-.$$
!-! # $& & $* 9! : ! %-X U ;$ #9- 9'$$ !;- &P$ & &' 9& $ * $ ! - 7 - $$
;-!$-2992*$&992$:-$&992
- $P$!;#9-$-!*;$$$$!%$&
-2M9= X9,=N>1=NYO
.*-; #$$-&$$*-D
&96%9$$2M`9= =9,XO
>W
*-#"+$%'+'# &'"# #"-.25'%"+'+$#9 $#&':$5$4$%1#$1)* '# ,%"-4",'"# #$/$5C'-('# $-&%$*
+$2# $ ' ,$%#*-'.$/ $-+%$+" ##' ',%*@"/'()* $-&%$ '# +2'# <".2%'# <*" ,$%4$:"+'
,%"/$"%'/$-&$,*%%5$&&$*25*2/"A9$#&2+"*#'+'*:%'+*'2&*%
# 4'%'4&$%;#&"4'# +$ $-+%$+"9 $/,%$#&'+'# +$ "*-"#*9 %$<*%('/ * ,',$5 +$
"-"4"'+*%$@$%4"+*,$5',$%#*-'.$/$<2-+'/$-&'//2"&'#+$#2'#'&"&2+$###"/9
!+$"@'&%'-#,'%$4$%2/'"-&$%&$@&2'5"+'+$9E#B$G$#0:B"'9E#B$G$#
"/,5;4"&'9<%2;+'$/+"<$%$-&$#<*-&$#9+$-&%$'#82'"#-)*,*+$%"'<'5&'%'%$&*/'+'+$/"&*#
+'425&2%'.%$.'
Y==+$2#+*#B$.$&'"#
#$#&2+"*#*#+*+$2#
"*-"#*'&%":2$/#2'*%".$/''5.2-#425&*#+$4'%3&$%B$.$&'59
'##"-'5'-+* 2/' ,'##'.$/ +* 425&* '-"4*-"#&' +' 3%B*%$ ' 2/' %$,%$#$-&'()*
'-&%*,*/0%<"4'+'+"B"-+'+$82$#$"+$-&"<"4'4*/*2#2:#&"&2"',$%#*-'5"+'+$%$5"."*#'+*
B$.$&'5YM9= X9,=9&%'+2()*-*##'O##$&",*+$',%*@"/'()*+$
"*-"#*
'* /2-+* B$.$&'5 $9 #*:%$&2+*9 E# $#,A4"$# '%:*%$#4$-&$# ,$%#"#&"%3 $/ +"B$%#'# <*%/'# 82$
%$B$#&"%)*#$2425&*
##'# *:#$%B'(I$# ,$%/"&$/ *:&$% 2/ $5$/$-&* 4*/2/ $-&%$ * +$2# $ $-+%$+" "+$-&"<"4'()*4*/'#<*%/'#B$.$&'"#A$B"+$-&$-',%0,%"'-*/$'()*+*"-+;.$-'5$A2/
'%'24'-*2'-'&2%'5"+'+$A$@,%$##',*%2/'+$-*/"-'()*82$*5".''2/&",*+$3%B*%$
,%$+*/"-'-&$-'#2'&$%%'9''%'243%"'
* ,3%*+* +'# '4'-&$# * 4*%* "-4"&' *%*'"1B*# +$ C$%'9 0 " 82$ 4%"'#&$
A/$5$a 'G$" .$%/"-'%9 <'G$" .$%/"-'% * B$%+$ #/;5'@ +$ :$5*# <%2&*# +'-(' :382"4'
+'-('9 4*/ %'/*# +$ ':$&*9 4*/ %'/*# +$ ,"-C* Md
9 = XY9 , =WO ##'
,'##'.$/ %$"&$%' '# '<"%/'(I$# +*# $#&2+"*#*# +$ '4*9 82$ <'G$/ %$<$%6-4"'9 :'#$'+'# -'#
%$,%$#$-&'(I$# +*# :'4'-&$# $ +* ,%0,%"* +$2# *# 425&*# +"*-"#;'4*#9 '# ,$##*'# &6/ *
4*#&2/$ +$ *%-'%$/1#$ 4*/ ,5'-&'# 82"9 4':$ 5$/:%'% * $,"#0+"* $/ 82$ *:"-#*-
$-4*-&%'$-+%$+"$-<"'+*$/2//'4"(*+$/'.-05"'#
Y
&%-$!-;7&9$$$#& !-'$9!;$ $$7-&-$9-%'9%9$-M9= X9,=O
>X
%'24'-* +"##"/25'%' #2' 4':$(' #*: 2/ 4','4$&$ +$ <5*%$# *:%$ &*+*
#$2 4*%,* -29 $5$ +$#$-C'%' 4*/ #2/* +$ P$-",',* <*5C'# +$ C$%' 42P*#
%'/*##2:"'/'*5*-.*+$#2'#4*@'#$$-%*5'B'/1#$'*%$+*%+$#$2&*%#*
##"/ /$&'/*%<*#$'+* $/ C*/$/ ,5'-&'9 #'42+"+* ,*% 2/ %"#* +$/$-&$9
$5$%*+$*2*:"-#*-4*/2/'4*%$*.%'<"'+$#B'"%'+'Y>M9= W 9
,=WY9&%'+2()*-*##'O
2&%* ,*-&* "-&$%$##'-&$ A * <'&* +$ "*-"#* #$% 4*-#"+$%'+* 2/ +$##$# +$2#$# 82$
,'##'/+' /*%&$E%$##2%%$"()*/'5.2-#425&*#92/'3%B*%$A+$%%2:'+'#".-"<"4'-+*9+$
/*+*:$/.%*##$"%*9'/*%&$+*+$2#,'%'9+"'#+$,*"#94*/$/*%'%$/#2'%$##2%%$"()*
%'92/','##'.$/+'*:%'+$*2%-"$%$/82$#$,*+$<'G$%2/'4*/,'%'()*4*/
$##$4*#&2/$A,*%*4'#")*+'$@,5*#)*+'.%2&')*A+$<'&*9-$##$/*/$-&*982$'*%+$/
$#&':$5$4"+' ,*% *:"-#*- #$%3 '-"82"5'+' ,'%' #$% #2:#&"&2;+' ,*% 2/' *%+$/ $#&':$5$4"+'
,*%$-+%$+"b`4*$%$-&$9$-&)*982$#$"-&$%,%$&$$##$/*/$-&*4*/*2/'/*%&$%"&2'5+'
'-&".'*%+$/82$425/"-'%3-'%$##2%%$"()*+$2/'-*B'B"+'9+"*-"#;'4'82$'4*-&$4$,*%
4*-#$826-4"' +' $@,5*#)* A :'#&'-&$ #"/:05"4* .%'-+$ 4$+%*9 '* ,A +* 82'5 #$ #"&2'B' '
.%2&'9 ':'5'+* ,$5' $@,5*#)*9 4'" '%' *:"-#*- * 4$+%* %$,%$#$-&'B' * .6-"* &2&$5'% +$
,$%'-G'YY82$+'+'3%B*%$'4':'B'+$%*/,$%*#Z5&"/*#5'(*#82$5".'B'/*:"-#*-
'*#$2'-&".*<2-+'/$-&*YNM9= W 9= 9&%'+2()*-*##'O
Y=+$2#+'/Z#"4'$+'+'-('
+'-(' $ ' /Z#"4' #)* $5$/$-&*# /'%4'-&$# -* %"&* +"*-"#;'4* # #$.2"+*%$# +$
'4*9 $/ .$%'5 &*/'+*# +$ &%'-#$9 #$/,%$ ,%$#"+"'/ #$2# $-4*-&%*# 4*/ 4'-&*# $ +'-('#9
"-#,"%'+*#,$5*+$2#*2$/#2'C*/$-'.$/
$-+%$+"&'/:A/#$%$5'4"*-'4*/'+'-('##'%$5'()*A'4$-&2'+',$5'5"-.2'.$/
2&"5"G'+',$5*'2&*%,'%'+$#".-'%'5.2-#+$#$2#/*B"/$-&*#
Y>
;'$-$:$! -2$$&*-'$9'6
%9&& ---$-<$$--%$;-$$
$2 9$&#9 #M&-$* 9 ; 9$-* - $ ;
#9%&#9&2M9= W 9,=WYO
YY
YN
-%9$$9-&FM9= W 9= 9&%'+2()*-*##'O
#'$&--!$$#$7 $2M9= W 9
= 9&%'+2()*-*##'O
>?
2'-+*$-+%$+"$#4','$/2/,'##$"*,$5'"5C'9*'2&*%+$#4%$B$4*/'##$.2"-&$#
,'5'B%'# * #$-&"/$-&* 82$ &*/' 4*-&' +* '%'24'-* 5$ $#&'B' A:%"* +$ P2B$-&2+$ $ +$
+"#,*-":"5"+'+$ -$##$ /$"* #$/ 5"/"&$# *-+$ %% % %(% %&(9 *-+$
-'+' <"@'B' * *5C'%YW M9 = W 9 , =W9 .%"<* -*##*9 &%'+2()* -*##'O 9 /'"#
&'%+$9 -' 4$-' +' +$#4*:$%&' +$ $-+%$+" $-&%$ '# <*5C'#9 *2%-"$% 2&"5"G' ' ,'5'B%'
#9%&# / *2&%*# &%$4C*#9 *:"-#*- '&%":2" %X ' $-+%$+"9 $@,5"4'-+* 82$
2#'','5'B%'-*#+*"##$-&"+*#'82$5$82$#$',5"4''*+'-('%"-*$'82$5$82$4*-4$%-$'*
#'-&*YXM9= W 9 ,=X9&%'+2()*-*##'O*2*:#$%B'82$$-+%$+"$#:*('2/
,'##*+$+'-('82$<'G4'-&'%*$82"5;:%"*+*#.%'B$#$'.2+*#+$#$24*%,*Y?M9
= W 9,=19&%'+2()*-*##'O
/+*#&%':'5C*#%$'5"G'+*#,*%$-+%$+"9$//$"*'##2'#5*-.'#C*%'#+$+$#4'-#*
A'4*-<$4()*+$2/"-#&%2/$-&*/2#"4'59+$-*/"-'+*-*5"B%*4*/*$5$/$-&'%9,*"#&$/,*%
$@$42&'-&$*,%0,%"*B$-&*+$#4%"()*+*$<$"&*$@$%4"+*-''5/'+$*:"-#*-$$-+%$+"
,$5*#*/%$'5"G'+*,*%$##$"-#&%2/$-&*5$/:%'*#$-&"/$-&*4*-&%'+"&0%"*,%0,%"*+*$#&'+*
+"*-"#;'4*9 82$ A * $#82$4"/$-&* +$ #" ,%0,%"* $/ ,%*B$"&* +$ 2/' 4*/2-C)* 4*/ *#
$5$/$-&*#%'2/'-*&'Z-"4'/'#%"4'+$C'%/V-"4*#"-<"-"&*#82$$-4$%%'B'-''5/'
2/'"-<526-4"'+$<"-"&"B'9/'4*%+*<*%/'+*+$4*/,*-$-&$#"-4*-&3B$"#42P',*&6-4"'&"-C'
'5.* +$ <'&'5 $ +$ "/,5'43B$5 82$ <'#4"-'B'Y M9 = W 9 , ?1 9 &%'+2()*
-*##'O
Y=>+$2#+'#4*-&%'+"(I$#
"*-"#*A2/+$2#+$+2,5'<$"()*9'*/$#/*&$/,*,*%&'+*%+$'5$.%"'$,*%*2&%*
5'+*9+$#&%2"+*%$4%2$5/+*#$,"#0+"*#+$ !9/*#&%'
4*/2/'"/'.$/4C*4'-&$9':%2&'5"+'+$'##*4"'+'E<".2%'+*"-+;.$-'<"/+$%$&"%'%'
YW
- 9$$ ' 6 $ &-$9 - -$ C $ - '$ 9$$
&-*C;:$$-%2M9= W 9,=WO
YX
-!;&&-!$-!-$M9= W 9,=XO
Y?
! & ! $ #$ -;9!- &- $ 9- & M9
= W 9,=1O
Y
;9$$$!U#;#! U! $-;X&9 $'*
9 &$ - $ - & $ '$ !-! # $- $
;&--! $2M9= W 9,?1 O
> 4'%4'(' +$ 2/' &'%&'%2.' ,'%' #$%B"% 4*/* $#42+*9 $-+%$+" #2:/$&$1' ' 2/ &%'&'/$-&*
:3%:'%* 5$ /'-&A/ #*:%$ * <*.* * '-"/'5 B"B* '&A 82$ * #$2 4'#4* 4*/$4$ ' ,$%+$% '
42%B'&2%'$#*5&'%1#$+',$5$+*'-"/'5
##"/-*#+$#4%$B$$'-/'%"$9'5.2-#'#,$4&*#4*-&%'+"&0%"*#+*+$2#
$5$ &"-C' '<"-"+'+$ 4*/ +"B$%#*# '#,$4&*# <2-+'/$-&'"#9 '"-+' 82$
,'%4"'5/$-&$4*-&%'+"&0%"*#982$'<"#"*-*/"'+*+$2#4*/,*%&'$4*-4"5"'
+$2#+'5*242%'C"#&A%"4'82$9+$%$#&*942%'1#$,*%$#&'4'&'%#$,$%<$"&'82$A
'<'+".'+*#/Z#425*#$'+"#&$-#)*+*%"#*F1*+$2#+*#+"B$%#*#,%$#&;."*#
82$+$4*%%$/+$&*+'#'#<*%/'#+$$@4"&'()*<%$-A&"4'9182$%#$P''+'-('9
* B"-C*9* 4*-#2/* +* #'-.2$ 82$-&$9' $@'5&'()* 4*5$&"B' ,$5* :'%25C*9 '
/2#"4'$*+$#$-4'+$'/$-&*+*##$-&"/$-&*#','"@*-'+*#]^_F1*+$2#9$/
+$<"-"&"B*9 +$ 2/' *%+$/ +$ 4*"#'# $ +$ 2/' B"#)* +* 2-"B$%#* 82$ #)* *
/;-"/* ,*##;B$5 5".'+'# E *%+$/ #*4"'5 ]^_9 /'# 82$ $#&)* '##*4"'+'#
"-&"/'/$-&$ '82"5* 82$9 -* 82'+%* +'# <$#&'# *-+$ #$ /'-"<$#&' #2'
,%$#$-('94*%%$#,*-+$'*#$-&"/$-&*+$$B'#)*82$$@,%"/$''5$.%"'$82$
'4*/,'-C' * #$-&"/$-&*9 1 *2 ' "52#)*9 1 +' ':2-+J-4"'N M9
= X9,>==1>=9&%'+2()*-*##'O
,%"/$"%*,*-&*5$B'-&'+*,*%$'-/'%"$-*&%$4C*'4"/'A'5*242%'$*%"#*/'
+'#/'"*%$#,$%&2%:'(I$#+$*:"-#*-%$<$%"'1#$'*%"#*+$$-+%$+"'%'*C",$%:0%$**%"#*
$%'*$<$"&*+',*##$##)*+$$-+%$+",*%2/+"':*#2#,$"&'+$*:"-#*-4*-<"%/''&$#$
'82" +$#$-B*5B"+' +$ ,'%$-&$#4* $-&%$ * "-+;.$-' $ * +$2#9 P3 82$ 2/' +'# <*%/'# /'"#
4*/2-#+$/'-"<$#&'()*+*+$2#A',*##$##)*94'%'4&$%"G'+',$5'5*242%'$45'##"<"4'+'4*/*
[+"*-"#;'4'
4'-":'5"#/* A 2/ 4*#&2/$ +' 4*/2-"+'+$ +' 82'5 ,%*BA/ * "-+;.$-' /
4$%"/V-"'#%"&2'"#92/'<$"&"4$"%'9','%$-&$/$-&$#*:'"-<526-4"'+$2/$#,;%"&*9+$#".-'82'5
+*#/$/:%*#+'&%":*+$B$%3#$%#'4%"<"4'+*+"<$%$-&$/$-&$+',%"/$"%'B$%#)*+*/"&*9-'
82'5 *# C*/$-# #'4%"<"4'+*# $ +$B*%'+*# ,$5*# "-+;.$-'# $%'/ ,%"#"*-$"%*# ,$%&$-4$-&$# '
2/' &%":* "-"/".' $ -)* "-&$.%'-&$# +' /$#/' 4*/2-"+'+$ ' /$#/' <*%/'9 -*# 425&*#
+"*-"#;'4*#9 '# B;&"/'# #'4%"<"4'+'#9 82'-+* -)* $%'/ '-"/'"#9 $/ .$%'59 $%'/ ,'%&"4",'-&$#
N
- '$ $9 ' &- &$ $<* ! &$--$ $$* ! -
&#. &$ -2 - - #.$9! !* $* %9$ & $$
$#& $!;$- $%-$-9#P$0M-&$%'!
9-$$$- ;<$$ 99$!*M!$-*-'*-$%
#* -;<-$$ --$' & - $* - ! $ - 9#P$ $$ &9 =>?0 M -
*9 $'*;#$;'-;'!$&$$#9!&-7
-; - =>?* ! $ 9 $$ 7 !* - :$ C $ &9* & $$ ;9' ! <& - 6 $ !;&% - $$* M -;--*M-;2M9= X9,>==1>=O
Y
+*%"&2'5*2,$##*'#,%0@"/'#'*#82$+$##$,'%&"4",'B'/*/*$@$/,5*#82$"52#&%'/$##'
'<"%/'()*&$/*#'/*%&$+$$-&$2,$5'#/)*#+$#2',%0,%"'/)$F*29'"-+'9*82$-*#4*-&'
'%4$5
$&"$--$M= ??9,X?1X O#*:%$'4*-.%$.'()*+'#$-C*%'#+$'-&$#982$+$+"4'+'#
'*#$%B"(*+*+$2#92/'B$G,*%'-*9#$.2-+*'B*-&'+$+$
"*-"#*9&%*4'/*&$5C'+*+$#$2
#'-&23%"*$9'4'+''-*9#$/$@4$()*9C32/'4"+$-&$#2%,%$$-+$-&$2/'+'##$-C*%'##$
+$#$82"5":%' $ 4'"9 #$-+*9 82'#$ '* /$#/* &$/,* %'#.'+'9 $#&%'('5C'+' ,$5'# *2&%'#F *2 '
5$-+'+'#&%6#"-;'+$#9-'B$%#)*%$5'&'+',*%52&'%4*9$/82$'#"%/)#&*/'+'#,$5'[9
#)*'##'5&'+'#,$5*+$#$P*+$4'%-$C2/'-'"%'/'#*%&$,'%'#':$%82'5+$
#$2#<"5C*#"%3#'&"#<'G$%$##$+$#$P*9$'/)$<'B*%$4"+',$5'#*%&$+$5"4"'1#$
4*/ ' C*-%' +$ *<$%$4$% '* +$2# #2' ,%0,%"' 4'%-$ C':"5/$-&$ +"5'4$%'+'
/ '##'##"-'&* #'4%"<"4'59 %$'5('+* ,$5* +$#$P* +$ +$B*%'% ' B;&"/'
M
9= ??9,>O
$##'# $ *2&%'# "52#&%'(I$# +*# %"&*# #'4%"<"4'"# +* 425&* +"*-"#;'4* $-&%$B$$/1#$
'5.2/'# #$/$5C'-('# 4*/ * 4*#&2/$ +' &%":* +*# '%'24'-*#9 E 82'5 ,$%&$-4$ $-+%$+"9
/$#/* 82$9 -* 4'#* +'# 4$%"/V-"'# :382"4'#9 #$P' /'"# 4*/2/ ' */*<'."' $9 -)*9
-$4$##'%"'/$-&$*4'-":'5"#/*
"-B$%#)* +' *%+$/ #*4"'5 ' 82$ #$ 5".' ' <".2%' +$ "*-"#* A %$,%$#$-&'+' ,*%
'5.2/'# '&"&2+$# :'#&'-&$ #"/:05"4'# +$ $-+%$+" * ',;&25* 9 $-+%$+" #2%,%$$-+$
*:"-#*- '* ',5"4'% 2/ &%'&'/$-&* :'#&'-&$ #"-.25'% ' '5.2-# '%:2#&*# 5$ *# +$#$-%'"G' $
%$,5'-&'1*#'*4*-&%3%"*9*2#$P'9%';G$#,'%'*'5&*$%'/*#$-<"'+*#-'&$%%'/'"#-*&3B$5A
82$'#,5'-&'#,'%$4"'/&*+'#$#&'%'4*/*+'+*#-$##$&%'&'/$-&*:3%:'%*N=M9
= W 9,=W>9&%'+2()*-*##'O##*+$"@',%$B$%82$'*%+$/+$$-+%$+"/$#/*+$#&*'-&$+'
*%+$/-'&2%'5A:$/'4$"&'-*2-"B$%#*+'"5C'
/*2&%','##'.$/9&*/'/*#4*-C$4"/$-&*+'4','4"+'+$+$$-+%$+"+$4'/"-C'%
',*"'+* 4*/ '# /)*# 4*/ ' /$#/' <'4"5"+'+$ 82$ * <'G 2/ C*/$/ $/ ,*#"()* -*%/'5 C':"5"+'+$$#&'82$*,%0,%"**:"-#*-'+82"%$$82$'##"-'5'-$##$/*/$-&*''4$"&'()*+'
,$%#*-'.$/+'-*B'*%+$/+"*-"#;'4'92/'*%+$/+$4':$(','%':'"@*
"*-"#* A9 ,*% $@4$56-4"'9 2/ +$2# :$-<$"&*% $ "-"4"'+*% +*# C*/$-# @'&'/$-&$ *
,',$5 +$ $-+%$+" 4*/ *:"-#*-9 4*-+2G"-+* * C",$%:0%$* ' 2/ $#&'+* +$ %$B".*%'/$-&*
"-&"/'/$-&$5".'+*'*4*-&'&*4*/'-'&2%$G'
N=
&$$;:$9$$$M9= W 9,=W>O
Y=
$.2-+*$'-/'%"$M= X9,=N9&%'+2()*-*##'O9
4*/,5$@*+$%$,%$#$-&'(I$#$+$$/*(I$#%$5"."*#'#4$-&%'+'#$/
"*-"#*
','%$4$ ,%*<2-+'/$-&$ "/,%$.-'+* +* #$-&"/$-&* ,$%#"#&$-&$ +$ 2/'
$82"B'56-4"' *2 /$#/* +$ 2/' "+$-&"+'+$ $-&%$ * ,*&$-4"'5 +$ B"+'9 +$
$@'5&'()* $ +$ %$-*B'()* 82$ ' ,%$#$-(' +$##$ \ #".-"<"4' ,'%' *#
'+$,&*# +$ #$2 425&* $ '# B"%&2+$# 82$ $/'-'/ +'# $##6-4"'# +* /2-+*
B$.$&'5N
-&$# /$#/* +* $#&':$5$4"/$-&* +' *%+$/ +"*-"#;'4' -' "5C'9 $-+%$+"%$'5"G' 2/'
,%"/$"%' :$-<$"&*%"' ' *:"-#*- +$B*5B$15C$ ' 4','4"+'+$ +$ %"% "*-"#* &$/ * +*/ +$
+$#,$%&'% ' '5$.%"' $ $##$ A 2/ +*# &%'(*# /'"# /'%4'-&$# +$ #2' ,$%#*-'5"+'+$ $'-/'%"$
M= XO *:#$%B' 82$ ' 82'5"<"4'()* +$ "*-"#* 4*/* '82$5$ 82$ +"#,$-#' ' '5$.%"' $/
,%*<2#)*M&-.%9$#DO9A%$##'5&'+',%"-4",'5/$-&$-'#*:%'#+$;-+'%*$$#;*+*;-+'%*
+$"@'$-&$-+$%82$$#&'A'<2-()*/$#/'M$9O+$##$+$2#
Y=Y+$2#-V/'+$
-*/'+"#/*A/'%4'-&$-'&%'P$&0%"'+$'4*$#/**5*4'5+$#$2-'#4"/$-&*-)*
A 2/ 4*-#$-#* 5A/ +"##*9 #2'# $,"<'-"'# #$ +)* -*# /'"# +"B$%#*# 52.'%$#9 *-+$ $5$ B'"
"-&%*+2G"-+**#$2425&*-&%$*#+$2#$#82$#$$-4*-&%'/$/&*+'#'#%$."I$#+'!%A4"'9
"*-"#*A*/$-*##$+$-&3%"*M
9= XY9,?O
'/$#/'<*%/'9$##$4'%3&$%-V/'+$4*-+"G4*/',$%#*-'5"+'+$+$$-+%$+"
,%"/$"%'"/,%$##)*82$*:"-#*-&$/+$$-+%$+"A'+$82$$5$A2//$#&"(*9*2
#$P'9/$#/*-*/$"*+$#2'4*/2-"+'+$9$5$&"-C''5.*+$$#&%'-.$"%*
"B$-+*-'"5C'4*/*:"-#*-9$-+%$+",'%$4$82$B'"#$<"@'%'5",'%'#$/,%$4*/
* #$2 4*/,'-C$"%* '#9 82'5 -)* A ' #2%,%$#' +$ *:"-#*- $ +* ,%0,%"* 5$"&*% '*
,$%4$:$%82$$-+%$+",%$<$%"2,'%&"%4*/*-'B"*HC"&$:"%+2B"+6-4"'+$<"-"&"B'+*4'%3&$%
-V/'+$+$$-+%$+"F$5$-)*#$#$-&$,%$#*E"5C'$//*/$-&*'5.2/$-)*C$#"&','%&"%,'%'
N
- &-< &9$$ $ ;9$ -% ! ;$ $9 . &&P$
& 9$&9%9$$&$$;9!'-:;$$9$-&$$-
'*;<-$$$'!-&9\% &-&$-$$-'$
!9$'9%9$-2M9= X9,=NO
Y
52.'%$#+$#4*-C$4"+*#9<'G$-+*,'%&$+'&%",25'()*+$2/-'B"*982$'4'+'+"'#$+"%".$$/
+"%$()*'-*B*#C*%"G*-&$#
Y=N+$2#%$P2B$-$#4$+*%
*/* B3%"*# *2&%*# +$2#$#9 "*-"#* A <".2%'+* 4*/* 2/ P*B$/ '%' $'-/'%"$
M= X9,W=9&%'+2()*-*##'O&%'&'1#$+$2/P*B$/+$2#9/'"#$@'&'/$-&$/$#/*2/+$2#
'+*5$#4$-&$9',*24*#';+*+'"-<J-4"'N>
##' P2B$-&2+$ 4*-<$%"+' ' '4* A 2/ &%'(* 5".'+* "-&"/'/$-&$ 4*/ ' "+$"' +$
%$-*B'()*+'82'5*+$2#A ,*%&'+*%5.2-#/"&*#+*+$2#+$#".-'/1-*4*/*#24$##*%+*
,%0,%"* f$2# / #24$##*% 82$ ,%*,"4"'%3 * %$P2B$-$#4"/$-&* +* /2-+* ' 2/' "+'+$ 82$
#$%"''82$5'+$2/'-*B'P2B$-&2+$+*2-"B$%#*)*C3-'+'+$4C*4'-&$-"##*982'-+*#$
5$B'/$/4*-&'*##"/:*5"#/*#,%0,%"*#+$2/&$/,*4;45"4*$+$2/+$2#5".'+*'*/2-+*
B$.$&'594*/**:#$%B'$'-/'%"$M= X9,Y>9&%'+2()*-*##'O-*#$.2"-&$&%$4C*
]^_ ' "+$"' +$ P2B$-&2+$ $ +$ %$P2B$-$#4"/$-&* $#&3 5".'+' E82$5' +$ 2/'
%$-*B'()* ,$%,A&2'9 $9 4*-#$82$-&$/$-&$9 +$ 2/' ,'5"-.$-$#"'9 -0#
%$2-"/*#'82"*'#,$4&*'*/$#/*&$/,*'-&".*$$##$-4"'5+$
"*-"#*82$
$#&35".'+*'#2'<2-()*+$.6-"*+'B$.$&'()*NY
82$ +"G$%9 $-&)*9 +$ $-+%$+"b '%'24'-* &'/:A/ A :'#&'-&$ P*B$/9 2/
'+*5$#4$-&$ *:"-#*- '4%$+"&' 82$$5$ -)* &$-C' /'"# +$ 82"-G$ '-*# 4*-#"+$%'-+*1#$ '
"-<526-4"'+*"-+;.$-'$/&*+'#'#&%'-#<*%/'(I$##*<%"+'#,*%*:"-#*-9,*+$1#$'<"%/'%#$%
$5$*4'2#'+*%+*%$P2B$-$#4"/$-&*+*C$%0"/%$P2B$-$#4"/$-&*.%'+2'582$#$$@,%"/$
$@&$%"*% $ "-&$%"*%/$-&$ $ ,%*,*%4"*-' ' *:"-#*- 2/' #$-#'()* +$ :$/1$#&'% 4*-#".*
/$#/*
N>
6*&-<$$:;-$*7&$-; 2M9= X9
,W=O
NY
=>? -;9 6 $ 6$ $ -97 -- ;' &&9$-* $* 9!$*
;&-%99*6%-;&$7- $!$$-.!$-97 $
%9-'9%9$$2M9= X9,Y>O
Y>
,%"-4;,"* '/$+%*-&'+*9 $-4'%82"5C'+* $ <$"*9 $5$ +$#':%*4C'%' ,*24* '
,*24*2',$5$&*/'%'2/&*/4*%+$4*:%$/''5&"B$G"-4C'B'#$2,$"&*
$#$2#/Z#425*#
$#$24*%,*"%%'+"'B'2/4'5*%+*82'55C$,'%$4"'82$#2'
'5/'&"%'B'2/'#$.2%'-('82$$5'P'/'"#4*-C$4$%'NNM9= W 9
,= =1= 9&%'+2()*-*##'O
$##'<*%/'4*/,%*B'1#$';-&"/'%$5'()*$-&%$$-+%$+"$*+$2#
"*-"#*
! A 2/' -'%%'&"B' 82$ 4C'/' ' '&$-()* +$ /2"&*# $#&2+"*#*#9
+$B"+* '* #$2 2-"B$%#* %"4* +$ #;/:*5*#9 %$<$%6-4"'# /"&*50."4'# $ <"5*#0<"4'#9
"-&$%&$@&2'5"+'+$#9 '5A/ +$ 2/ &$/' <'#4"-'-&$ $-4$%%'+* -2/' C"#&0%"' %$4*%%$-&$ -*
"/'."-3%"*,*,25'%9*/"&*+$*:"-#*-%2#*$
$##' -'%%'&"B' &)* +$-#' $-4*-&%'1#$ 4*/ .%'-+$ <%$826-4"' %$<$%6-4"' '* 2-"B$%#*
.%$.* '-&".* ##'# %$<$%6-4"'# B)* +$#+$ ' 2&"5"G'()* +$ '5.2-# /"&*# '&A * $/,%$.* +$
4'%'4&$%;#&"4'#+'$#&%2&2%'$#;/:*5*#+'&%'.A+"'
'2&*%#$2&"5"G'9$-&%$*2&%*#9+*/"&* +* +$2# "*-"#*9'&%":2"-+* '#,$4&*# +$ #2'
,$%#*-'5"+'+$ '* "-+;.$-' $-+%$+" )* B3%"*# $,"#0+"*# -' -'%%'&"B' 82$ ,$%/"&$/ 2/'
',%*@"/'()*$-&%$
"*-"#*$$-+%$+","#0+"*#+*#82'"##$$@&%'"2/'#A%"$+$$5$/$-&*#
/;&"4*#82$-)*#$$@&"-.2$/-'%$5'()*4*/%$<$%$-4"'5',$-'#$-&%$'#+2'#<".2%'#94*/*
<*" <$"&* '82"9 /'#9 82$ ,*+$/ #$% '##*4"'+*# ' /2"&*# *2&%*# +$2#$# 9 /$#/*9 -'
"+$-&"<"4'()*4*/',$-'#$#&$#9/2"&*# ,*-&*#+$4*-&'&*'4':'/#$-+*-$.5".$-4"'+*#9$/
,%*B$"&*+$'-35"#$/'"#',%*<2-+'+'+*#'#,$4&*#5$B'-&'+*#
82$ ,$%/"&$9 -* $-&'-&*9 82$ #$ %$5'4"*-$/ +$ /'-$"%' &)* '4$-&2'+' $#&'# +2'#
<".2%'#A'"-#"#&6-4"'-'%$&*/'+'+$$5$/$-&*#,$%&$-4$-&$#'*+$2#94*/*<*%'/'%$5'()*
4*/'B$.$&'()*9*%"#**2'"-B$%#)*+$B'5*%$#
NN
; &9* !'--9 $ -* - ;9$$ 9& & 7 &2 & '$ & $ '92 $9% -$&$$-2&.$#-7-!-----$!
X&$!;--;'$62]M9= W 9,= =1= O
YY
;*''!!)$')
"/,*%&J-4"' '&%":2;+' ' $-+%$+" A <2-+'/$-&'5 -' *:%' +$ *2%-"$%9 ,*%A/9
*:"-#*- -)* ,$%+$ #$2 ,',$5 +$ ,%*&'.*-"#&' +' -'%%'&"B' 5$ %$,%$#$-&'9 &'-&* $/ $<*$
4*/* $/ *2%-"$%9 '5.2-# +*# ,%"-4",'"# B'5*%$# +* C*/$/ +*# #A425*# Q $ QQ9
%$#,$4&"B'/$-&$9 ' ,$(' <2-+'/$-&'5 ,'%' 82$ '# *:%'# #$ 4*-#*5"+$/ 4*/* /"&*# +'#
#*4"$+'+$#/*+$%-'#
"+$-&"<"4'()* +* C*/$/ 4*-&$/,*%J-$* 4*/ *:"-#*- +$B$1#$ '* <'&* +$ $5$ #$%
2/ C*/$/ 4*/2/ 82$ * &*%-' $#,$4"'5 &'-&* $/ $<*$ 4*/* $/ *2%-"$% -)* A 2/'
,$%#*-'5"+'+$ <*%&$ *2 2/ 4'%3&$% $@&%'*%+"-3%"*9 /'# #"/ ' #"&2'()* "-A+"&' B"B"+' ,*% $5$
$.2-+*'"55'%+M= >9,=9&%'+2()*-*##'O982'-&*'*:"-#*-]^_9$5$','%$4$+$#+$
#$/,%$4*/*2/#$%+$$@4$()*,*%#$2+$#&"-*]^_/2"&*/'"#82$,$5*#.%'-+$#&%'(*#+$
#$24'%3&$%*2+$#2'"+$-&"+'+$NW
/ *2%-"$% C3 4$%&'/$-&$ 2/ <*%&$ ',$5* ,'%' &%'-#<*%/'% *:"-#*- -2/'
,$%#*-'.$/$5$B'+'9*82$A2&0,"4*9/'#2/'2&*,"':'#&'-&$4*-&$/,*%J-$'##"/4*/**
/*+*+$,%*+2()*"+$'582$%2#*$"-#&'2%'-'"5C'9$/
$<*$9A2/'2&*,"'+*C*/$/+$
-$.04"*#+*#A425*QMH9=
X9,=XO
%2#*$ A9 $-&%$&'-&*9 2/ C*/$/ 4*/,5$&'/$-&$ +"<$%$-&$ -' *:%' +$ *2%-"$% )*
',$-'#+$B"+*E$B*52()*#*<%"+'94*/*&'/:A/$/#2'4'%'4&$%"G'()*-*"-;4"*+'-'%%'&"B'
;-5(
"%%%(%%.%%
/ $<*$9 '-&$# +* -'2<%3."*9 *:"-#*- 5'/$-&'1#$ ,*% #2' <*%&$ "-45"-'()* ,$5*
/'%9 82$9 /2"&'# B$G$#9 ,V# $/ %"#4* #2' B"+' $ A 4*-&%3%"' E B*-&'+$ +$ #$2# ,'"# "-+'
+2%'-&$&*+''#2'$#&'+'-'"5C'*:"-#*-%$"&$%'#$2'%%$,$-+"/$-&*,*%-)*&$%#$.2"+**#
4*-#$5C*#+*#$2,'"$,$%/'-$4"+*$/[*%c
NW
$7=>?*-&&P$;$967:$;<&$&$>&&-
!&-%$$$D$$92M
9= >9,=O
YN
#:*-#4*-#$5C*#+*/$2,'"B"-C'/1/$E"+$"'$&*%-'B'/1/$,%$#$-&$'
,%$+"()*982$/$-4"*-$"-*,%"-4;,"*+'-'%%'()*9*2#$P'982$#$$2&*/'##$
$##'5*24'+$4"#)*9
$2#-)*/$,%*&$.$%"'9$82$&$%"'&$/,*,'%'%$<5$4&"%
#*:%$&$%-$.5".$-4"'+**#$24*-#$5C*982'-+*-)*&"B$##$-"-.2A/,'%'/$
'P2+'% ' /$ %$42,$%'% ]^_ ' P2#&"(' +$ $2# '54'-(*21/$9 $ -)* &$-C*
-"-.2A/ ,'%' /$ 'P2+'% *2 82$ /$ *2('9 %$,$5" ' B*G +' %*B"+6-4"'9 82$
/"#$%"4*%+"*#'/$-&$/$&"-C'+'+*2/'#"&2'()**2,*#"()*-'B"+'$/82$
,*+$%"'&$%#"+*<$5"G$&$%2/'B"+'<34"5F/'#-)*82"#B615**2',%$-+$%+*#
/$2# ,'"# ' :$-()* 82$ $%'F +$"@$"1*# ' '<5"."%1#$ 4*/ ' /"-C' 5*242%'9 $
'.*%'$#&*2%$+2G"+*'5'/$-&'%1/$+'#4*-#$826-4"'#+$5'M
9= XN9
, >1 YO
,0# #$2 %$#.'&$9 *:"-#*-9 &$-+* '54'-('+* ' ,*#"()* -' B"+' $/ 82$ ,*+$%"' &$%
#"+*<$5"G$&$%2/'B"+'<34"594*-&%3%"*E#,$%#,$4&"B'#82$$5$,%0,%"*4%"'-*4*/$-&3%"*
'4"/'9 -)* ':'-+*-' #2' B"+' +$ B"'P'-&$ 5*-.* &$/,* +$ "#*5'/$-&* $ %$<5$@)* -)* *
+"##2'+"2+$#$2$#,;%"&*'B$-&2%$"%*9-$/C*2B$82'582$%&",*+$'%%$,$-+"/$-&*#"-4$%*,*%
&$%+$#*:$+$4"+*'*#,'"#
2'-&*E#2'%$5"."*#"+'+$9$5$'<"%/'82$'-&$#+$#$$-4*-&%'%-'"5C''."'#$/2#'%
:'#$# %$5"."*#'# $ '5" 4C$.' ' %$'5"G'% '5.2/'# ,%3&"4'# ,%0@"/'# E# +* ,2%"&'-"#/*
,%*&$#&'-&$94*/4$%&'%$.25'%"+'+$F/'#82'-+*$#&3'#'5B*982'#$-)*<'G%$<$%6-4"''5.2/'
'
$2#*2,$%#"#&$-',%3&"4'+$'5.2/'%$5".")*
$B*5&'E-.5'&$%%'982'-+*,$-#'$/#$
$#&':$5$4$% -*B'/$-&$ -* %'#"59 /'# C$#"&' +$B"+* E <A ,',"#&' ,%*<$##'+' '5"9 *:"-#*-
'##2/$82$'%$5".")*-)*$%''%'G)*,%"-4",'582$]*_"/,$+"'+$"%,'%'*#%'#"#'#$%'9
#"/9 * <'4&* +$ -)* #':$% ' 82$/ +$"@'% *# ]#$2#_ ,$%&$-4$# M
9 = XN9 , X=O ##'
,'##'.$/4*/,%*B''#2'&*&'5<'5&'+$4*/,%*/"##*4*/'%$5".")*'+*&'+'
*%#2'B$G9**:"-#*-+$"4C$5*2%-"$%,'##',*%/2+'-('#-*#$24'%3&$%$9'&A9
-* #$2 <;#"4*9 82$ -)* #)* ',$-'# '# 4*-#$826-4"'# -*%/'"# +' ,'##'.$/ +* &$/,* 5$ #$
&*%-' 2/ C*/$/ 4*/,5$&'/$-&$ +"<$%$-&$ +* 4*-C$4"+* ,$5* 5$"&*% -* "-;4"* +' -'%%'&"B'
'#9/$#/*'-&$#+$##'/$&'/*%<*#$9$-&%$$5$$**:"-#*-+$
$<*$P3#$"/,I$//2"&'#
+"<$%$-('#
,%"/$"%'9,'%' ' 82'5P3 #$ 4C'/*2 ' '&$-()*9 A * <'&* +$ **:"-#*- +$ *2%-"$%
-)* #$% 4*-&$/,*%J-$* +* *:"-#*- +$ $<*$ 3 $-&%$ $5$# 2/' +"<$%$-(' +$ = '-*#
*:"-#*-%2#*$$/ !A2/#A425*/'"#/*+$%-*82$*
*2&%*
,%"/$"%**:"-#*-B"B$$/2/,$%;*+*82'-+**#,%"/$"%*#'B'-(*#&$4-*50."4*#
+'$B*52()*-+2#&%"'5'"-+'-$/&"-C'/4*/$('+*''4*-&$4$%*2&%*P3A2/C*/$/+*
"-;4"*+'$%'"-+2#&%"'59+*'+B$-&*+',%*+2()*+$$-$%."''B',*%9B"B$-+*-*,';#,"*-$"%*
YW
-'4*%%"+',$5'"-+2#&%"'5"G'()*$9,*%&'-&*9+$+$#$-B*5B"/$-&*/'"#'4$-&2'+*-*,$%;*+*
5$ A * &;,"4* C*/$/ /*+$%-*9 '4*#&2/'+* E# "-4$##'-&$# /2+'-('#9 /'# ,*% *2&%* 5'+*
/'"#+"#&'-&$'"-+'+'B"+'#$5B'.$/
$.2-+*'"55'%+M=
>9,N=9.%"<*+*'2&*%9&%'+2()*-*##'O9
,%"/$"%* A 2/ C*/$/ +* #A425* Q9 * #$.2-+* +* #A425* B"-&$ /
$B*52"$/<2-()*+$4$%&$G'#9**2&%*$/<2-()*+$"-4$%&$G'#)*#$&%'&'
/'"#+$4*-#*5"+'%2/'*%+$/4'54'+'#*:%$*/*+$5**%"."-'59#*:%$2/'
/'&%"G +"#&'-&$9 /'# +$ ,$-$&%'% -* 4*%'()* +* /"#&A%"*9 "9+$B$%"'1#$+"G$%NX
)*9$-<"/9#2P$"&*#+$B"+'#$+$A,*4'#+"<$%$-&$#*:"-#*-%2#*$+$
'-"$5
$<*$
A2/P*B$/+*$#&%'&*/'"#'5&*+':2%.2$#"'M
9= XN9,=O9*%"."-3%"*+'4"+'+$
+$ *%82$9 82$ 4*/$(' ' #$ 'B$-&2%'% ,$5*# /'%$# +* /2-+* '*# = '-*# $#$P* 82$ P3
'5"/$-&'B' C3 '5.2-# '-*# $ -)* %$'5"G'%' +$B"+* E *,*#"()* +$ #$2# ,'"#9 2/ "/".%'-&$
'5$/)*$2/'"-.5$#'
` 2/ %','G *:#&"-'+* ,*% #$2# ,%*P$&*# +$ B"'.$-#9 /$#/* 82'-+* P3 A #$-C*% +$
,%0#,$%*# -$.04"*# -* %'#"5 '#9 '# +$4"#I$# &*/'+'#9 -' B$%+'+$9 #)* $/ #2' /'"*%"'
:'#$'+'# $/ <'&*%$# $4*-V/"4*# $.2-+* H'&& M=
X9 , =WO #2' #$-#":"5"+'+$ $#&3
4*-$4&'+' E# 4*"#'# /'&$%"'"#F $5$ A /$&0+"4*9 &%':'5C'+*%9 $ #':$ 4*/* <'G$% 2/' '42%'+'
'B'5"'()*+$%$#25&'+*#
)* &$-+* -$-C2/ $#&2+* $#,$4;<"4* ,'%' 82'582$% '&"B"+'+$ ,%*<"##"*-'59 *:"-#*-
<*"+"%$4"*-'+*,$5*,'"'#$.2"%'4'%%$"%'+$+"%$"&*9'5.*-2-4'4*-4%$&"G'+*$+*82'5-)*
#$-&$ <'5&' */* /$"* +$ #2:#"#&6-4"' ',0# #2' #';+' +$ 4'#'9 $5$ &%':'5C' *%' 4*/*
/$%4'+*%9*%'4*/*<'G$-+$"%*+$4'-'-*%'#"5#&'#<2-(I$#'82$#$+$+"4'*4*/A%4"*
$''.%"425&2%'-'+'&6/+$"-*B'+*%,'%'2/'#*4"$+'+$/*+$%-'$',$-'#4*-&%":2$/,'%'
%$"&$%'%*/$#/*,%"/"&"B*#"#&$/'4',"&'5"#&'+$$@,5*%'()*$'42/25'()*
,$-'# '*# X '-*#9 *:"-#*- #*<%$ * -'2<%3."* 82$ * /'-&$%3 "#*5'+* +* %$#&* +*
/2-+* ,*% 2/ 5*-.* ,$%;*+* +$4"#)* +$ $/,%$$-+$% ' B"'.$/ <'&;+"4' +$B$1#$ ' #$2
NX
& $ # Y D-* - # '%$D D-2 ; 9'- $$$*-;$ $;$$2-;%$&-X$-!9-D-
%-*$9-%9*&99$Z.$D*
*'$M2
M
9= >9,N=9.%"<*+*'2&*%O
YX
4'%3&$%'/:"4"*#*9,*"#*/'"*%"-4$-&"B*,'%'':'-+*-'%'$#&':"5"+'+$$/82$#$$-4*-&%'A
',*##":"5"+'+$+$4*-#$.2"%.'-C'%/'"#+"-C$"%*'"-+'4*/&%3<"4*+$'5.2-#$#4%'B*#
# %$B$#$# #*<%"+*# -*# /'%$# #)* #$/,%$ #2:#&"&2;+*# ,$5' 4*-B"4()* +*
$-%"82$4"/$-&*4*/',$%/'-6-4"'-'B"+'+$B"'P'-&$ 5$ ,%0,%"*&$/ 4*-#4"6-4"' +$ #2'
*:#&"-'()*
#&' "-<526-4"' +"':05"4' 82$ /$ 5$B*29 ,%"/$"%*9 ' #'"% +$ 4'#'9 82$ /$
"-#&"5*2 ' "+$"' +$ &$-&'% '%%'-P'% <*%&2-' $ 82$ "/,%$##"*-*2 +$ &'5 <*%/'
$#&$# 4*-4$"&*# $/ /"/9 82$ /$ <$G #2%+* ' &*+*# *# :*-# 4*-#$5C*#9 '*#
%*.*#$/$#/*E#"/,*#"(I$#+$/$2,'"M
9= XN9,>1YO
2"&'# B$G$# ,'%$4$ C'B$% 2/' "-45"-'()* ' +"%$4"*-'% ' *:%' 4*/* ' C"#&0%"' +'
,2-"()* +$ 2/ P*B$/ *:#&"-'+* $ +$#*:$+"$-&$9 /'# &'5 "/,%$##)* A "-#&'-&'-$'/$-&$
','.'+' 82'-+* #$ <'G 2/' 'B'5"'()* +*# %$#25&'+*# +' 'B$-&2%' +$ *:"-#*- 5A/ +$
4*-&"-2'% #$-+* * /$#/* C*/$/ .'-'-4"*#* +* "-;4"*9 $5$ #0 *:&$B$ B'-&'.$-#9
,%"-4",'5/$-&$$4*-V/"4'#94*/*5$.'+*+$#$2&$/,*+$"#*5'/$-&*
/*+* 4*/* $5$ &%'&' $@&'1$"%' %$<5$&$ #2' /$-&'5"+'+$ %'4"#&'9 4%$-&$ -'
"-<$%"*%"+'+$+*#,*B*#-)*1:%'-4*#9#$P'/-$.%*#9/*2%*#*2;-+"*#/*2&%*$,"#0+"*9$5$
P3 $@,%"/"%' #2' +$#4*-#"+$%'()* ,*% *2&%'# %'('# P2+'+* ' <2."% +$ 2/ 4'&"B$"%* ,*% 2/
P*B$/ /*2%*9 $5$ B$-+$ * %','G -' ,%"/$"%' *,*%&2-"+'+$ 4*/* $#4%'B* 2'-&* ' $@&'1
$"%'9B"B$2'&A*#Z5&"/*#+"'#+$#2'B"+'-'#"&2'()*+$4%"'+*
*:"-#*-+$*2%-"$%,'%$4$9,$5*#,*24*#"-+;4"*#82$*&$@&*-*#+3#*:%$*#$2
,'##'+*92/P*B$/.2"'+*,*%#$-&"/$-&*#*,*#&*#'*#+**2&%*9'"-+'82$*#/*&"B*#+$#2'
B"'.$/&'/:A/&$-C'/#"+*$4*-V/"4*#%'9#':$/*#82$$5$A4'#'+*$&$/+*"#<"5C*#
5$&$/<*%/'()*2-"B$%#"&3%"'-'-"B$%#"+'+$+$[*%c9#2'4"+'+$-'&'5*+*#$##$#<'&*%$#
+$#&'4'/';-+*5$#$+$-&3%"'+',$%#*-'.$/#,*##":"5"+'+$#+$4*-#&"&2"%<'/;5"'$42%#'%
2/' <'425+'+$ #0 #)* ,*##;B$"# E82$5$# 82$ /'-&6/ 2/' 4$%&' $#&':"5"+'+$ +*/"4"5"'% B"'.$/9 $/,%$$-+"+' '*# '-*#9 -' 82'5 $5$ A B;&"/' +* -'2<%3."*9 ,'%$4$ &$% #"+* 2/'
+$4"#)*,$-#'+'4*/*2/''B$-&2%'Z-"4'$/:2#4'+$/$5C*%'%'##2'#4*-+"(I$#/'&$%"'"#
'B$%+'+$9*:"-#*--)*4*."&'B'B*5&'%E-.5'&$%%'#&'#$%"'2/'B"'.$/2-"4'/$-&$+$
"+'94*/*%$'5/$-&$<*"9$+$,*"#+$#$$#&':$5$4$%-**B*2-+*9$5$,%$&$-+"'4C'/'%#2'
<'/;5"','%'B"B$%4*-#".*#'&"&2+$#-)*%$B$5'/2/P*B$/"-4*-#$82$-&$4*/*-*4'#*
+* ,%"/$"%* C$%0"F +2'# 4'%'4&$%;#&"4'# +$#&'4'+'# ,$5* 4',"&)* '- $R##$5 #)* #2'
Y?
'2#&$%"+'+$$ #2' +$&$%/"-'()* * 4*-&%3%"*+* *2&%*9 * 82$ ,'%$4$/*B615* A ' :2#4' ,*%
$#&':"5"+'+$9$-)*9''B$-&2%'
'/:A/,'##'/2"&*+*#$2&$/,*-'"5C'$-B*5B"+*$/%$<5$@I$#9+$42-C*,$##*'5
$7*2 <"5*#0<"4*9 +$ 82$ +3 ,%*B' * +"3%"* M-%M)O 82$ $#4%$B$ $/ 4*-&%','%&"+' E
#2,$%<"4"'5"+'+$ +* *2&%*9 ,%$*42,'+* $/ ,%"/$"%* 52.'% 4*/ '# 82$#&I$# ,%3&"4'# #
'4*-&$4"/$-&*# B"B"+*# -' "5C' #)* * "-4$-&"B* ,'%' 2/' #A%"$ +$ "-82"%"(I$# $
82$#&"*-'/$-&*#9%$'5('-+*2/"-+"B;+2*82$&$/2/'B"+'"-&$%"*%:'#&'-&$'&"B'94*-+"()*
$##$-4"'5,'%',*+$%&%'-#<*%/'%1#$$/2/C*/$/-*B*
2'-&* E <*%/' 4*/* #$ %$5'4"*-' 4*/ $-+%$+"9 $#&' A 4*-&%':'5'-('+' ,*% +*"#
$@&%$/*#9'-&$#$+$,*"#+'$@,5*#)*-&$#9$-+%$+"A&%'&'+*4*/*2/$#4%'B*9+$#,%*B"+*
+$82'582$%4*-#"+$%'()*+$#$2#$-C*%9#$B$%*$'2&*%"&3%"*-82'-&*$/
$<*$9/$#/*82$
*:"-#*--2-4'&$-C',%*/*B"+*$@&'1$"%'+$#2',*#"()*+$#2:'5&$%-*9/2"&'#B$G$#$5$
* &*/' ,*% 2/ 4*/,'-C$"%* *2 2/ '/".*9 * 82$ -)* '4*-&$4$ -* 4'#* +' -'%%'&"B' +$
*2%-"$% +2%'-&$ * &$/,* $/ 82$ * %$5'4"*-'/$-&* #$-C*%1$#4%'B* A /'-&"+* $,*"# +'
$@,5*#)*C32/'%$B"%'B*5&'$/82$*:"-#*-,'##''&%'&315*9-)*',$-'#4*/*2/#$2".2'59
/'#4*/*'5.2A/#2,$%"*%9+".-*+$'+/"%'()*$"/"&'()*
$/ /$#/* *# ,'"# +$ 2/ $ *2&%* *:"-#*- #)* *# /$#/*# * 4'#* +$
$<*$9 *#
,'"# ,'%$4$/ -)* $@$%4$% /2"&' "-<526-4"' #*:%$ * <"5C* $9 /$-*# '"-+'9 ' /)$9 82$ A
4*/,5$&'/$-&$#2:/"##''*,'"/*2%-"$%9'/)$+$*:"-#*-A2/'/25C$%<*%&$9'5/'
+$ $@4$()*9 /'# ,*24* 4*/2-"4'&"B' $ $#&%'-C' E# $<2#I$# #$-&"/$-&'"#N? M9
= X9 , =X9 &%'+2()* -*##'O9 $ 82$ ,'%$4$ "-<52$-4"'% :'#&'-&$ * #$2 4'%3&$% 3 * ,'"9 2/
&$4$5)*9/*#&%'1#$2/#2P$"&*4*/,5$&'/$-&$<%'4*9','.'+*$#$/.%'-+$"/,*%&J-4"','%''
B"+'+$*:"-#*-
##'# ,$425"'%"+'+$# -' 4'%'4&$%"G'()* +*# ,%*&'.*-"#&'# %$<*%('/ * ,',$5 82$ 4'+'
2/+$5$#+$#$/,$-C'-'4*-#&"&2"()*+*/"&*-82'-&*$/
$<*$9*:"-#*-A2/"-+"B;+2*
4*/,5$&'/$-&$ '2&V-*/* $ :$/ %$#*5B"+* 4*/ #2' %'4"*-'5"+'+$ 50."4'9 #$/ /2"&*#
,%*:5$/'# +$ *%+$/ $@"#&$-4"'59 $/ *2%-"$%9 *:"-#*- A 2/ "-+"B;+2* 4*-#&%'-."+* ,$5'#
4*-B$-(I$#9<%'./$-&'+*94A&"4*9/'#4*/,*&$-4"'5,'%'/2+'-('
N?
$* X ;<&$* & $' $ 9$%D < $$-
M9= X9,=XO
Y ;-8%.%%%%%(
%.=
$<*$'54'-(*2$-*%/$#24$##*+$,Z:5"4*-*4$-3%"*"-.56#9:2#4'-+*+'%2/&*/+$
B$%'4"+'+$'*##$2#%$5'&*#9'&%'BA#+$+$#4%"(I$#/"-24"*#'#+*$#,'(*9+*&$/,*$+'#'(I$#
+$ #2'# ,$%#*-'.$-# ,%*#'9 <*%/' ,%"B"5$."'+' +$ $#4%"&' +* %*/'-4$9 '2/$-&' '
,*##":"5"+'+$+$4%"'%2/'-'%%'&"B'*:P$&"B'$+$<34"55$"&2%'
#24$##*+$*:"-#*-%2#*$+$B$1#$,%"-4",'5/$-&$'*,%0,%"*4*-&$Z+*+*5"B%*9
2/'$@'5&'()*'* ,*&$-4"'5+*C*/$/+$#2'A,*4' $ '* /*+* +$ B"+' :2%.26# C"#&0%"'
.'-C*2 #&'&2# +$ /"&* %$<5$&"-+* *# ,%"-4",'"# B'5*%$# +' :2%.2$#"' $/ '#4$-#)* *:"-#*-
%2#*$ A * &;,"4* :2%.26#9 B"B$-+* $/ 4*-+"(I$# "+$'"# ,'%' +$#$-B*5B$% 5"B%$/$-&$ &*+*#
#$2#'-#$"*#4',"&'5"#&'#9#$/'"-&$%<$%6-4"'+*Z-"4*$5$/$-&*82$,*+$%"'"/,*%*:#&3425*#
'#2'#%$'5"G'(I$#&*+**%$#&'-&$+'#*4"$+'+$
$5$"()*+'*:%'4*/*/"&*<*""-#,"%'+',*%+"<$%$-&$#"-&$%,%$&'(I$#94*/*-*4'#*
$/82$#$,$-#'$/*:"-#*-4*/**/*+$5*+*,%"/$"%*C*/$/-'&$%%'9,'##'-+*,$5'#
<'#$# +' $B*52()* C2/'-' -&%$&'-&*9 '+*&'% $##' ,$%#,$4&"B' A ,%*:5$/3&"4*9 P3 82$9
*:"-#*- -)* "-"4"' #2' &%'P$&0%"' -' "5C' '&A 2/ $#&3."* +$ +$#$-B*5B"/$-&* +' &A4-"4' '
,'%&"% +* G$%*9 4*/* * C*/$/ ,%"/"&"B*9 +"#,*-+* ',$-'# +*# %$42%#*# 82$ ' -'&2%$G' 5C$
.'%'-&$9 /'# '2@"5"'+* ,$5* $#,05"* 82$ <'G +* -'B"* $/ #$2# ,%"/$"%*# +"'# +$ -32<%'.*9
'-&$# 82$ $#&$ #2:/$%."##$ 4*/,5$&'/$-&$ '/:A/9 A 2/ C*/$/ +*&'+* +$ 4','4"+'+$
"-&$5$4&2'59 +$ B'5*%$# /*%'"# $ +$ ,%$4*-4$"&*#9 82$9 -' C"#&0%"' +' $B*52()* C2/'-'9
+$/*%'%'/ #A425*# ,'%' #$ $#&':$5$4$% *:"-#*- -)* A 4%"'+*%9 /'# ',$-'# %$,%*+2&*% +$
&A4-"4'#82$P34*-C$4$+$'-&$/)*
B$%#)* +$ /"&* 82$ &*/' *:"-#*- 4*/* %$,%$#$-&'-&$ +* /*+$5* $4*-V/"4*
:2%.26# A9 ,*%&'-&*9 * ,%"-4",'5 <'&*% 82$ &*%-*2 ' *:%' 2/' %$<$%6-4"' '* #$ <'5'% #*:%$
%*/'-4$$:2%.2$#"'$.2-+**5$%"+.$M',2+H9=
X9,=WO
*2B$##$ $5$ +$#B"'+* ]^_ * "-&$%$##$ +$ *:"-#*- %2#*$ ,'%' ' C"#&0%"'
-'&2%'5 ]^_9 * 5"B%* &$%"' #$ $-%"82$4"+* $/ /2"&'# ,3."-'# $ *2&%*# &'-&*#
"-4"+$-&$# '.%'+3B$"# +$ 5$%F /'#9 #$ '##"/ <*##$9 %2#*$ +$"@'%"' +$ #$%
2-"B$%#'59 '82$5' ,$##*' $/ 82$ 4'+' 5$"&*% B$%"' * #$2 ,%0,%"* #2:#&"&2&*
'#-)*9&2+*82$'5"#$<'G9,$-#'9#*<%$*2+$#$P'A',$-'#'82"5*82$4'+'
#$%C2/'-*,*+$"/'."-'%1#$<'G$-+*9,$-#'-+*9#$-&"-+**2+$#$P'-+*
N
*:"-#*- %2#*$9 4*/* /"&* +* "-+"B"+2'5"#/*9 #$.2$ *:$+"$-&$/$-&$ '82"5* 82$ *
<"50#*<* !$%+ *%-C$"/ +$#".-*2 4*/* *# ,*-&*# /'%4'-&$# +* "&"-$%3%"* +$ $B*52()* +*
,%*P$&*:2%.26#
,%"/$"%*+$5$#94*-#"+$%'+*,*%*%-C$"/M=
O4*/**,*-&*/'"#+$4"#"B*9A'
%% +* "-+"B;+2* 2&*-*/"' $#&' 82$ &$/ #2'# :'#$# -* '-&%*,*4$-&%"#/* $ -*
%'4"*-'5"#/* 2 #$P'9 * "-+"B;+2* +$#5".'1#$ +*# B'5*%$# 2-"B$%#'"# +$ 2/' %$'5"+'+$
+"B"-'$4*-4$-&%'1#$$@452#"B'/$-&$-'82"5*82$+"G%$#,$"&*'*#$%C2/'-*$'#",%0,%"*9
$/,'%&"425'%82"5*82$-)*5C$+"G%$#,$"&*982$-)*<'G,'%&$+*#$2J/:"&*+$%$'5"+'+$A
+"#,$-#3B$5 +$ *42,'% #$2# ,$-#'/$-&*# $##$ ,$-#'/$-&* +$B$ #$% 5"/"&'+* ,$5' %'G)*9
+$#4'%&'-+*&2+*'82"5*82$#$%$5'4"*-''2/#2,*#&*/2-+*#2,$%"*%
'##"/4*/*,'%'*,%*P$&*:2%.26#9''2&*-*/"'A+$4"#"B'-'&%'P$&0%"'+$%2#*$
-'"5C',$#'%+$+*&'+*+$4$%&'%$5"."*#"+'+$9-)*#$,*+$+"G$%82$',$%#*-'.$/#$P'2/
4%"#&)* $@$/,5'% %$5$BJ-4"' +' %*B"+6-4"' -' B"+' +* -32<%'.* A9 &'/:A/9 4$%4$'+'
,$5*#$2"-+"B"+2'5"#/*982$#$5"/"&''%$<5$&"%#*:%$'"/,*%&J-4"'+*"-+"B;+2*,'%'*,5'-*
+"B"-* *%*2&%* 5'+*9%2#*$ *42,' .%'-+$ ,'%&$ +$ #$2 &$/,* ,%*P$&'-+* $ %$'5"G'-+* -'
"5C'/$5C*%"'#82$4*-&%":2'/,'%'*#$2:$/1$#&'%#%$'5"G'(I$#+$*:"-#*-#)*<%2&*
+$5*-.'$5$-&'%$<5$@)*#*:%$'/$+"+'$/82$5C$#$%3,%3&"4*9'.%'+3B$5$9'4"/'+$&2+*9
B'-&'P*#*9%$'5"G'%'5.*
'#'#/$5C*%"'#%$'5"G'+'#-'"5C'-)*+"/"-2$/'82'-&"+'+$+$&%':'5C*'42/,%"%
+"'%"'/$-&$##"/82$ '5.*#$$-4*-&%'&$%/"-'+* $ Z&"59 $5$ ,'%&$ ,'%' *2&%*&%':'5C* 5$
,'##''#$%,*##2"+*%+$4*-#"+$%3B$582'-&"+'+$+$2&$-#;5"*#9<$%%'/$-&'#9/0B$"#$"/0B$"#
*:"-#*- &%':'5C' "-4$##'-&$/$-&$ $ +$/*-#&%' -"##* &$% 2/ +*# #$2# /'"*%$# ,%'G$%$# &%':'5C* ,'%' $5$ +$#$/,$-C' 2/' <2-()* &$%',62&"4' $ %$B".*%'-&$F /$#/* #$9 '5.2/'#
B$G$#9 %$45'/' +* 4'-#'(*9 +* $#<*%(*9 E# B$G$#9 +* +$#J-"/*9 *:"-#*- -)* +$"@'
&%'-#,'%$4$%$/-$-C2//*/$-&**+$#$P*+$,'%'%+$&%':'5C'%-'"5C'$',$-'#2#2<%2"%*
82$ $5' 5C$ *<$%$4$ ,*% #$2# ,%0,%"*# /$"*# '%' $5$9 * &%':'5C* /'-&A/ ' 4*-#4"6-4"' $ '
#'-"+'+$#2'$@,$%"6-4"'4*-4*%%$+"%$&'/$-&$,'%'%$<*%('%'"+$*5*."'+$+".-"<"4'()*+*
&%':'5C**:"-#*-#$-&$1#$<$5"G'*4*/,%$$-+$%*,%*4$##*+$<':%"4'()*+$'5.2-#*:P$&*#
*2+$,%*+2()*+$'5.2/&",*+$'5"/$-&*$'5"G'&2+*4*/,'4"6-4"'$9/$#/*9%$,$&"+'#
B$G$#9'&A4*-#$.2"%'54'-('%**:P$&"B*+$#$P'+*
##' B'5*%"G'()* $@'4$%:'+' +* .
"% A ' #$.2-+' 4'%'4&$%;#&"4' 4"&'+' ,*%
*%-C$"/ 5A/ +$ %$,%$#$-&'% /'"# 2/ <'&*% +$&$%/"-'-&$ +' '2&*-*/"' +* "-+"B;+2*
*:"-#*-"+$'5"G'9%'4"*-'5"G'$,I$$/,%3&"4'&2+*+$82$-$4$##"&'9#$/+$,$-+$%+''P2+'
N=
+$ *2&%*# ' ,$%#,$4&"B' :2%.2$#'9 * &%':'5C* A B"#&* &'/:A/ 4*/* 2/ /$"* +*
+$#$-B*5B"/$-&*+',$%#*-'5"+'+$
"+$"'+$B'5*%"G'()*+*&%':'5C*5".'1#$"-&"/'/$-&$E4*-4$,()*"-&$.%'+''*&$%/*
B*4'()*,*%2&$%*'%'*&$05*.*9*C*/$/B$%+'+$"%'/$-&$'#$%B"(*+$
$2#-)*#$"#*5'
+* /2-+* $/ 2/' B"+' /*-3#&"4'9 /'# &%':'5C' 4*/ +$+"4'()* $ C*-$#&"+'+$ -* #$%B"(*
#$425'%9 $@,%$##'-+* * #$2 '/*% '* ,%0@"/* "+$"' +$#$-B*5B$21#$ ,%"-4",'5/$-&$ -*#
4;%425*#,%*&$#&'-&$#$4*-&%":2",'%''<*%/'()*+'A&"4'4',"&'5"#&'#$*&%':'5C*#$425'%A
:*/$+".-*9*+"-C$"%*'+B"-+*+$5$&$/&'/:A/B'5*%C*-%*#*2'-&*/'"#+"-C$"%*2/
C*/$/ .'-C'##$9 /'"# $B"+$-&$ $%' 82$ ' #2' 4*-+2&' $%' '.%'+3B$5 '*# *5C*# +$ $2# 4%$-('+$82$*42/,%"/$-&*+'#&'%$<'#+*#A425*#*:82'"#82$%4"%42-#&J-4"'#A*Z-"4*
4'/"-C*,'%'#'&"#<'G$%'
$2#982$$5$9$#*/$-&$$5$9$#&3+$-&%*+'B*-&'+$+$
$2#9$82$9
,*% "##*9 82'582$% B*4'()* 5;4"&' &$/ * /$#/* B'5*% ,$%'-&$ *# *5C*# +$ $2# MH9
= WX9 ,NYO4*5':*%*2.%'-+$/$-&$ ,'%'4%"'%2/' /$-&'5"+'+$$/82$*&%':'5C*&$/ 2/
B'5*%#'.%'+*
' *:%' +$ $<*$9 ' 4*-4$,()* +$ 82$ *# :*-# <%2&*# +* &%':'5C* #)* #"-'5 +$ 2/'
4*-+2&''.%'+3B$5'
$2#$#&3:'#&'-&$'%%'".'+'%$5"."*#"+'+$+$#$-B*5B"+',*%*:"-#*-9
'4"/'+$2/'$5$B'()*$#,"%"&2'59#$%B$4*/*P2#&"<"4'()*+$#2'#'&"B"+'+$#-'"5C'2'-&*
/'"#:$/#24$+"+*$5$A9/'"#'4%$+"&'82$'.$+$'4*%+*4*/'B*-&'+$+'%*B"+6-4"'
2'-&*E82$#&)*+'%(9*:"-#*-&$/,%"B"5A."*#<*%'+*4*/2/
5$ ,*##2"2/'"5C'"-&$"%'#0 ,'%'#"9#*:#$2+*/;-"*$#/*+$,*"#+$#$%%$#.'&'+*$5$
4*-&"-2' #$-+* * +*-* +* 52.'%9 4*-#"+$%'-+*1#$ "-B$#&"+* +$ 2/ +"%$"&* +$ ,%*,%"$+'+$
'##$.2%'+* ,*% #" ,%0,%"*9 '5.* #$/$5C'-&$ E# ,%3&"4'# +*# 4*5*-"G'+*%$# +' /A%"4' '*
$-4*-&%'% 2/ -*B* &$%%"&0%"*9 C':"&'+* *2 -)*9 "-&"&25'/1#$ +*-*# +* 52.'% / /*/$-&*
-$-C2/ *:"-#*- '4$"&' ' "-&$%<$%6-4"' +$ *2&%$/ $/ #$2 "+;5"* "-+"B"+2'5"#&' -' "5C'
2'-+*',0#82"-G$'-*#+$,$%/'-6-4"'9,$%4$:$',%$#$-('+$*2&%'#,$##*'#-'"5C'9$5$
','B*%'1#$9 &$-+* 2/' %$'()* ,'%$4"+' 4*/ '82$5' 82$ &$%"' 82'582$% C*/$/ /*+$%-* '*
-*&'%'5.2A/$#&%'-C*+$-&%*+$#2'%$#"+6-4"'
$,*"#+$+$#4*:%"%*##$5B'.$-#9*:"-#*-
#0#$'4'5/'82'-+*4*-#$.2$$@,25#315*#+$539/'&'-+*'5.2-#$4$%&"<"4'-+*1#$+$82$4*/
*#2#&*+"<"4"5/$-&$B*5&'%"'/'$##$#;&"*
$%&'/$-&$9*#C3:"&*#4'-":'"#+*##$5B'.$-#$%'/%$,2.-'-&$#,'%'*:"-#*-9/'#
$5$,%0,%"*P3#$4*-B$-4$%'+$82$#0$@4$,4"*-'5/$-&$*$-4*-&%'%"'/,'%'5C$4'2#'%/'59
,*"#-2-4'#$'<'#&'B'/+*5"&*%'59B"#"&'-+*'"5C'',$-'#,'%'%$'5"G'%#$2##'4%"<;4"*#5A/
+"##*9A:'#&'-&$,%*B3B$582$*#4'-":'"#P34*-C$4$##$/$<%$82$-&'##$/'"5C'/2"&*'-&$#
N
+' 4C$.'+'+$ *:"-#*-F <'5&*215C$# ',$-'# *,$-#'/$-&* :2%.26# ,'%' 82$ #$ +$45'%'##$/
,%*,%"$&3%"*#9<'G$-+*+$5'2/'4*5V-"'#2'9'##"/4*/**<$G%2#*$5*.*82$,V+$
$9 ,*% *2&%* 5'+*9 -)* #$ ,*+$ '42#'% *:"-#*- +$ 2/ ',$.* '* +"-C$"%* +".-* +$
82'582$%'+$,&*+*
%+2%'-&$#2'$#&'+'-'"5C'A',$-'#,*%82$-'82$5'#"&2'()**
+"-C$"%*,$%+$%'4*/,5$&'/$-&$*#$2B'5*%*:"-#*--'+',*+"''+82"%"%4*/$5$-'"5C'
$#/*+$,*"#+$&*+*#*#'-*#82$%2#*$,'##*2-'"5C'9$5$-)*#$$#82$4$+$82)*
B'5"*#* A * +"-C$"%* ,'%' ' #*4"$+'+$ $ 4*-#$%B' '# /*$+'# +$ ,%'&' +* $#,05"* +* -'B"*
+2%'-&$ &*+* * &$/,*9 /'-&$-+*1'# :$/ .2'%+'+'#9 /$#/* +$,*"# +$ &$% ,$%+"+* '#
$#,$%'-('# +$ #$% %$#.'&'+* ` "-&$%$##'-&$ *:#$%B'% 82$ *:"-#*-9 '* B*5&'% ,'%' '
4"B"5"G'()*9 5$B' $#&$ +"-C$"%* 82$ -' B$%+'+$ #0 5C$ ,$%&$-4"' $/ ,'%&$9 ,*"# C'B"' '5" '
C$%'-(' +'82$5$# 82$ 4*/ $5$ -'2<%'.'%'/F /'# $/ /*/$-&* '5.2/ ,$-#' $/ ,%*42%'% *#
<'/"5"'%$# +$ #$2# 4*/,'-C$"%*# +$ B"'.$/ ,'%' 5C$# +$B*5B$% * +"-C$"%* %$42,$%'+* -*
-'B"*
$#2','%&$9'*%$&*%-'%9#':"'/2"&*:$/'*#42"+'+*#+$82$/C'B"'+$"@'+**##$2#
,$%&$-4$#$#$-&$1#$,%$*42,'+*82$'5.2A/*#&$-C'+"##",'+*/'+$#2'#,%"/$"%'#'(I$#9
',0##$2%$&*%-*9A%$&*/'%$##$#:$-#4*/&*+*#*#524%*#82$&"B$%'/9/$#/*82$$##$#-)*
&$-C'/#"+*<%2&*+$#$2&%':'5C*9/'#9#"/9+*&%':'5C*C*-$#&*+$#$2##04"*#
*:%$ $#&$ ,*-&*9 A "-&$%$##'-&$ -*&'% ' $B*52()* +$ *:"-#*- ' %$#,$"&* +$ #2'
4*-+2&' $4*-V/"4' -&$# +* -'2<%3."*9 #$2 ,%"-4",'5 "-&$%$##$ $%' .'-C'% +"-C$"%* %3,"+*9
"-+$,$-+$-&$ +*# %"#4*# +' $/,%$"&'+' ##"/9 $5$ $-B*5B$1#$ 4*/ * 4*/A%4"* /$%4'-&"59
'&%';+*,$5'"/$+"'&"+'+$+*#'5&*#.'-C*#-*-$.04"*
$<'&*9'-&$#+$#2'4C$.'+'E"5C'9A
$%%'+* '<"%/'% 82$ *:"-#*- #$P' 2/ 4',"&'5"#&' 5$ $#&3 $/ 2/ $#&3."* '-&$%"*% '*
4',"&'5"#/*9"/:2;+*+$2/$#,;%"&*/$%4'-&"5+$4"#)*+$#2'B"'.$/'e<%"4'982'-+*#$
+3 * -'2<%3."*9 A "-4$-&"B'+' ,$5* /$#/* $#,;%"&* 5$ ,%$&$-+$ &$% 524%*# %3,"+*# 4*/ *
&%3<"4* +$ $#4%'B*# 524%* 5$-&* $ #$.2%* 82$* #$25'&"<Z-+"* -* %'#"55C$ *<$%$4$ -)* *
#'&"#<'G
*/* P3 &"-C' <$"&* 82'-+* #'; +$ 4'#' +*# /$2# ,'"#9 &'/:A/ '.*%' -)*
$#&'B'#'&"#<$"&*9/'#+$B"'"%1/$$+$"@'%'.%'-+$*,*%&2-"+'+$+$B"%'#$%
2/C*/$/%"4*$,%0#,$%*-'/"-C',5'-&'()*9#*/$-&$,'%'*:$+$4$%'2/
+$#$P*"%%$<5$4&"+*$"/*+$%'+*+$#2:"%/'"#+$,%$##'+*82$#$%"',*##;B$5
M
9= XN9,YYO
-#&'5'+*-'"5C'9*:"-#*-'+82"%$2/'#$-#":"5"+'+$'42%'+','%'&$%#$/,%$&*+**
-$4$##3%"**+'#'##2'#'(I$##)*4'5425'+'#$%$."+'#,*%2/'50."4'+$,*##":"5"+'+$4$%&'
N>
+$ #24$##* $ ,*24'# B$G$# * %$#25&'+* A +$4$,4"*-'-&$ ,'%' $5$ $#"-&$%$##'+* +* 524%*
"/$+"'&*9 *:"-#*- ,%$*42,'1#$ $/ ,%$4'B$%1#$ ,'%' 82$ -'+' 5C$ <'5&$ +2%'-&$ &*+' ' #2'
#*:%$B"B6-4"'-'"5C'$@,$%"6-4"'82$B"B$-$5'#$%B$,'%'9+$<'&*9&%'-#<*%/'%'4*-+2&'
$4*-V/"4'+$*:"-#*-#2'$@,$%"6-4"'&%'-#<*%/'1*$/2/,$%<$"&*4',"&'5"#&'
+$#$P* +$ .'-C* "5"/"&'+* -)* #$ "+$-&"<"4' -$/ 2/ ,*24* 4*/ *
4',"&'5"#/*9$/2"&*4*/*K$#,;%"&*L+*4',"&'5"#/*4',"&'5"#/*,*+$'&A
"+$-&"<"4'%1#$ 4*/ 2/' %$#&%"()*9 *29 ,$5* /$-*#9 4*/ 2/' /*+$%'()*
%'4"*-'5+$##$"/,25#*"%%'4"*-'5
$82'582$%<*%/'9,*%A/9*4',"&'5"#/*9
-' *%.'-"G'()* 4',"&'5"#&' ,$%/'-$-&$ $ %'4"*-'59 $82"B'5$ E ,%*42%' +*
524%*9+$2/524%*#$/,%$%$-*B'+*9+'%$-&':"5"+'+$MH9= WX9,
YO
' B$%+'+$9 $-82'-&* +2%*2 #2' $#&'+"' -' "5C'9 $5$ -)* #$ ,%$*42,*2 4*/ * 524%*9
,*"# "##* %$,%$#$-&'B' 2/' 50."4' "-#$-#'&'9 B"#&* 82$ -)* ,*+$%"' &"%'% ,%*B$"&* +$5$ '#9
'##"/ 82$ B*5&' '* 4*-B;B"* $/ #*4"$+'+$9 ' -'%%'()* +' <*%/' 4*/* *:"-#*- 4*-+2G *#
#$2#-$.04"*#/*#&%'82$$5$&*%-*21#$2/0&"/*'52-*+$4*/*/25&",5"4'%#$2+"-C$"%*4*/
#$.2%'-('
* 82$ &$%"' #"+* +$ *:"-#*- %2#*$ #$/ * %"% 82$ ,*##2;' ,'%'
&%'-#<*%/'%* /$"*$/ #$2<'B*%bC"#&0%"'+$2/C*/$/5'-('+*$/2/'&$%%'"-0#,"&'9
#$/ 82'582$% ,%AB"* 4*-C$4"/$-&*9 ,*+$%"' #$% &*/'+' 4*/* * /"&* +* ,%"/$"%* C*/$/
#*:%$ ' &$%%'9 4*%%*:*%'-+* '##"/ ' "-&$%,%$&'()* +$ /2"&*# #*:%$ ' &%'P$&0%"' +$ %2#*$
-&%$&'-&*9&'5+"%$4"*-'/$-&*+$#,"%"''-'%%'&"B'+$
$<*$+*,%"-4;,"*+'B$%*##"/"5C'-('9
:2#4'+*,$5*#,%"/$"%*#%*/'-4"#&'#2'5C*/$/9#$/2/4*-C$4"/$-&*,%AB"*$'5.2/'#
<$%%'/$-&'#4*/*,*-&*+$,'%&"+'9&$%"'4C$.'+*'*-;B$5+'&A4-"4''54'-('+*,*%*:"-#*-
$/ B"-&$ #$&$ '-*#b 2"&* ,$5* 4*-&%3%"*9 * 82$ ,'%$4$ 82$%$% ,'%&"% +' ,$-' +$ $<*$ A
$@'&'/$-&$ $##' 4','4"+'+$ $-*%/$ +$ 4%"'()* +* C*/$/ /*+$%-* '+82"%"+' '&%'BA# +$
#A425*#+$$#&2+*$,$#82"#'#$*:"-#*-4*-#$.2$,%'&"4'/$-&$#*G"-C*'&$-&'%4*-&%'*#
#$5B'.$-#9$B$-4$%9A,*%82$A,*##2"+*%+$2/4*-C$4"/$-&*$+$2/'&$4-*5*."'82$$5$#
-)*,*##2$/9'#'%/'#+$<*.*<':%"4'()*+$+"B$%#*#*:P$&*##*/$-&$#$&*%-',*##;B$5
,*% #$% +$4*%%6-4"' +$ 2/ 4*-C$4"/$-&* ,%AB"* ##"/9 4*/* 82'582$% C*/$/ /*+$%-*9
*:"-#*-&$/*,*+$%+$/'-",25'%&2+*'#$2<'B*%92#2<%2"%+'82"5*82$,%*+2G"29.%'('#'
#$24*-C$4"/$-&*
$*2&%'/'-$"%'9,*24*,*+$%"'-*#4*-B$-4$%'-'%%'&"B'+$
$<*$
NY
4*-&%'+"()*$-&%$/"&*$B$%+'+$,%$#$-&$-'-'%%'&"B'+$#B$-&2%'#+$*:"-#*-
%2#*$ A 2/' +'# 82$#&I$# /'"# "-&%".'-&$# -$#&$ &%':'5C* */'-+*1#$ * /"&* -' #2'
4*-4$,()*+$C"#&0%"'<':25*#'P'/'"##$,*+$%"'45'##"<"4'%'*:%'+$
$<*$4*/*2//"&*
*/* P3 +"#42&"/*# $/ ,'%&$# '-&$%"*%$#9 ' ,%"/'G"' ,$5' B$%*##"/"5C'-(' A 2/' +'#
,%$*42,'(I$# ,%"/$"%'# +*# %*/'-4"#&'# +* #A425* Q 5$# $#,$%'B'/ '&A /$#/* 82$
#2'# C"#&0%"'# <*##$/ %$4$:"+'# 4*/* %$5'&*# +$ '4*-&$4"/$-&*# %$'"# $ -)* 4*/* 2/'
"-B$-()* <"44"*-'5 '%' "##*9 ':%"'/ /)* +* 4%A+"&* +$ '2&*%$# $ "-&"&25'B'/1#$9 $/ .$%'59
$+"&*%$#+'#*:%'#,2:5"4'+'#*%*2&%*5'+*9A,%$4"#*5$/:%'%/'"#2/'B$G'"/,*%&J-4"'
+'-'%%'&"B'4*/*C"#&0%"'$@$/,5'%$<2-+'/$-&'5+*,$-#'/$-&*:2%.26#*:"-#*-%2#*$
A9 #$/ +ZB"+'9 2/ C$%0" +$ $#,$&'425'% 4','4"+'+$ $ +".-* +$ ,%*&'.*-"G'% * /"&* 5$
#*:%$B"B$ E# ,%*B'(I$# 82$ +"<"4"5/$-&$ *2&%* ,*+$%"' #2,*%&'% $.2-+* H'&&9 * ',$5* +*
5"B%*E"/'."-'()*9'4"/'+*#$2"-$.3B$5#$-#*+$%$'5"+'+$9A*',$5*2-"B$%#'5+'#*5"+)*9
$,*%&'-&*,'%''"5C'+$#':"&'+'9+$B$/*#-*#"-+'.'%#$%2#*$A*2-)*2//*+$5*,'%'
&*+*# -0#9 -* &*4'-&$ '* /*+* 4*/* ',%$-+$ ' +"%"."% * #$2 #&'+* B'G"* +$ C':"&'-&$#
C2/'-*#MH9=
X9,=XO
/,'%'+*,*%2/'
."5"/"&'+'9*:"-#*-,*+$+'%'#'#'#$2#4',%"4C*#$
'.$ +$ +$&$%/"-'+' /'-$"%' A #$/,%$ .2"'+* ,*% #2' ,%0,%"' B*-&'+$ )* C3 82'582$%
#"#&$/'%$,%$##*%,'%'P25.315*$+"&'%15C$4*/*'."%2'-+**:"-#*-/'&''5.2-##$5B'.$-#
-'"5C'9"##*-)*,'##'+'%$'5"G'()*+$2/+$#$P*82$P3'5"/$-&'B'C3/2"&*&$/,*#$9,*%
'5.2/&$/,*9%$#"#&"2'$##'B*-&'+$9'5$.'-+*4$%&'#%$#&%"(I$#/*%'"#$%$5"."*#'#9/*#&%'1#$
4*/,5$&'/$-&$+$#&"&2;+*+$##$&",*+$#$-&"/$-&*82'-+*$-4*-&%'2//*&"B*82'582$%82$
'2&*%"G$'#2'4*-#4"6-4"'2+*'.$$/<'B*%+'%$'5"G'()*+*#+$#$P*#+$%2#*$9$-82'-&*
$@&'1$"%'-)*,'##'+$2/#"/,5$#'2@"5"'%+'#/$.'5*/'-"'#+$#$2'/*
9 #$9 ','%$-&$/$-&$9 4*/* 4*-#&'&' H'&& M=
XO9 $<*$ ,'%$4$ 82$%$% +'% '*
-'2<%3."*'','%6-4"'+$2/',2-"()*'*:"-#*-,*%&$%+$#*:$+$4"+*'*,'"9$##'"/,%$##)*
A45'%'/$-&$','.'+''*5*-.*+'5$"&2%'$4*-<"%/'+'-*<"-'5+*5"B%**:"-#*-+$45'%'9'*
<"/+$#2'#'B$-&2%'#982$4*-&"-2'%3%$'5"G'-+**2&%'#B"'.$-#+$#&$/"+'/$-&$94*-&%'%"'-+*
*#4*-#$5C*#"-"4"'"#+*,'"##$<'&*4*-<"%/'''<"%/'()*+''2&*-*/"'$+'5":$%+'+$+*
"-+"B;+2**:"-#*-
#$2 %$&*%-* E #*4"$+'+$ -)* * &%'-#<*%/' $/ 2/ 4"+'+)* ,%$*42,'+* 4*/ *
,%0@"/* 2'# '(I$# #)* #$/,%$ 5".'+'# '* #$2 ,%0,%"* "-&$%$##$ :$-$<;4"* *4'#"*-'5 '
'5.2/'#,$##*'#+$,*"#+*#$2%$&*%-*9-)*-'#4$+$2/4*%'()*.$-$%*#*9/'#9#"/9,*%82$
'82$5'#,$##*'#&%':'5C'%'/,*%$5$-'#2''2#6-4"'$$#&)*#$-+*+$B"+'/$-&$,'.'#,$5*#
#$%B"(*#,%$#&'+*#94*/*'4*-&$4$$/82'582$%$/,%$#'-*#+"'#+$C*P$#2'#"&2'()*+$
NN
"#*5'/$-&* #$%B$ 4*/* 2/' .%'-+$ 5"()* ,'%' 82$ $5$ ,*##' '.*%' %$'5"G'% $/ #*4"$+'+$ *
"-+"B"+2'5"#/*',$%<$"(*'+*+2%'-&$'-*#-'"5C'$82$'5"4$%(''#:'#$#+*%$5'4"*-'/$-&*+$
#$2#4*-&$/,*%J-$*#
;-;'%((%%
"-+' 82$ * /"&* +$ *:"-#*- %2#*$9 $#4%"&* ,*% '-"$5 $<*$9 #$P' /'%4'-&$ $
$@$/,5'%2/+*#.%'-+$#/*+$5*#+$4*/,*%&'/$-&*+*"-+"B;+2*:2%.26#$+*/*+*+$
,%*+2()*4',"&'5"#&'9$5$'4':*2,$%+$-+*:*','%&$+'#2'$5*826-4"'4*/'/2+'-('+$
,$-#'/$-&*$4*/,*%&'/$-&*-*##A425*#QQ$QQ
*/"##*9-)*#$,%$&$-+$'<"%/'%82$&$-C'#$':*5"+*':2%.2$#"'$*4',"&'5"#/*$9
/$-*# '"-+'9 82$ &$-C' #$ $@&"-.2"+* * "-+"B"+2'5"#/* $%"' /$#/* "-.6-2* ,$-#'% 82$ '
C2/'-"+'+$&$-C'#$&%'-#<*%/'+*',*-&*+$*"-+"B;+2*-)*#$'5$.%'%$/&"%'%B'-&'.$/+$
82'582$% #"&2'()* $/ :$-$<;4"* ,%0,%"* $#&$ #$-&"+*9 *4*%%$2 ',$-'# ' +$#'&2'5"G'()* +$
'5.2-#B'5*%$#:3#"4*#+*%*/'-4$
'%' 4*/,%$$-+$% /$5C*% &'5 '<"%/'()*9 4':$ +$5"-$'%9 /$#/* 82$ +$ /*+*
#2,$%<"4"'59'$B*52()*+'/*+$%-"+'+$'*5*-.*+$&%6##A425*#
,'%&"% +* $-'#4"/$-&*9 ' /*+$%-"+'+$ $#&$-+$2 #$2# %'/*# /2-+"'5/$-&$ $ #$
"-#&'5*2 $/ &*+* * 4"+$-&$9 &$-+* ,'##'+* ,*% /2"&'# /*+"<"4'(I$# '* 5*-.* +$#&$# Y
'-*#2'#P2#&"<"4'(I$#<"%/'/1#$-2/,%*4$##*+$/*+$%-"G'()*4%$#4$-&$$#$/*+"<"4'%'/
'*B$-&*+'#%$B*52(I$#
# "+$'"# +$ ,%*.%$##* $ +$#$-B*5B"/$-&* <*%'/ <2-+'/$-&'"# ,'%' 4'%'4&$%"G'% '
/*+$%-"+'+$ C*/$/ <2."' +' '-&".' 4*-4$,()* +' +'+$ A+"' +$ <'&'5"#/* $ +$
"-<$%"*%"+'+$$/%$5'()*'2//2-+*#2,$%"*%"-'4$##;B$59&)*+"<2-+"+',$5'.%$P''&05"4'
4*/ * *:P$&"B* +$ "/,*% #$2 P2.* ' '5.2-# #$&*%$# +' #*4"$+'+$9 $ .'%'-&"% #$2 ,*+$%"*
$4*-V/"4*9,*5;&"4*$425&2%'5
/*+$%-"+'+$ ,*+$ #$% "+$-&"<"43B$5 ,$5* #$2 5*-.* C"#&0%"4* +$ 4*-&%'+"(I$# $
%'4"*-'5"G'(I$# *$@"#&$/ /2"&*# B'5*%$# $ * ,%"-4",'5 *:P$&"B* A &$-&'% $-4'"@315*# &*+*#
+$-&%*+$2/'$#&%2&2%'%$.25'+'
'#$.2-+'/$&'+$+*#A425*Q5*4'5"G'/1#$+*"#$B$-&*#82$#)*/'%4'-&$#,'%'
2/' /2+'-(' -' $#&%2&2%' #*4"'5 $ $4*-V/"4' +' 2%*,' )* '# $B*52(I$# %'-4$#' $
-+2#&%"'5
NW
##$# +*"# '4*-&$4"/$-&*# +$"@'%'/ ,%*<2-+'# /'%4'# -'# #*4"$+'+$# +' 2%*,'
4"+$-&'5$B*52()*-+2#&%"'5:%"&J-"4'9',$#'%+$#0#$%#$-&"+'4*//'"#-"&"+$G','%&"%
+' ,%"/$"%' /$&'+$ +* #A425* QQ9 "-<52$-4"*2 &2+* * 82$ #$ %$<$%"' E# %$5'(I$# C2/'-'#9
4*/$('-+* ,$5*# /*+*# +$ ,%*+2()* &%'BA# +$ 2/ 5*-.* ,%*4$##* '4':*2 5$B'-+* '*
$-<%'82$4"/$-&*+*#$&*%'.%3%"*$E#2,$%,*,25'()*-'#4"+'+$###'+"-J/"4'425/"-'4*/
' 4*-#&%2()* +$ <$%%*B"'#9 '4$5$%'-+* ' B"+' +'# ,$##*'# '&A 2/ %"&/* '* 82'5 $5'# -)*
$#&'B'/'4*#&2/'+'##,%*+2&*#$'#"-<*%/'(I$#4C$.'B'/4*//2"&*/'"#<'4"5"+'+$'
82'582$%4'-&*+'2%*,'
3 ' $B*52()* %'-4$#'9 +$ *%+$/ ,*5;&"4' $ "+$*50."4'9 %$,$%42&"2 #$2# "+$'"# +$
-$99 $$9$9%-$9$/&*+**/2-+**/*-*#'5$%&'*C"#&*%"'+*%%"4*:#:'g/
M= XX9,?YO9'"+$*5*."'+*/2-+*/*+$%-*'&"-."2'#'-&".'#4"B"5"G'(I$#82$&"-C'/'&A
$-&)*%$#"#&"+*E#"+$"'#$2%*,$"'#"-"4"'5/$-&$'&%'BA#+'"-<526-4"'<%'-4$#'%$B*52()*
4*/#$2P'%.)*+$82$*#C*/$-#$%'/&*+*#".2'"#4C$.*2'&A'#4*5V-"'#9+$#$-4'+$'-+*-*
#A425*QQ2/'.'/'+$/*B"/$-&*#%$B*524"*-3%"*#$+$"-+$,$-+6-4"'
'#9 #$ * #A425* QQ <*" * #A425* +'# %$B*52(I$#9 * #A425* QQ "-"4"'1#$
4'&'#&%*<"4'/$-&$4*/*#&$%%*%$#+'.2$%%'+"G"/'-+*$+$#&%2"-+*'5/'#$-'(I$#
#,%"/$"%'#+A4'+'#+'#$.2-+'/$&'+$+*#A425*QQ#)*B"B"+'#,*%#$%$#C2/'-*#
+$#"52+"+*#4*/ ' B"+'$/ #*4"$+'+$9 '/$+%*-&'+*# ,$5' '/$'(' 4*-#&'-&$ +$ 2/' &$%4$"%'
.2$%%'/2-+"'59'##"#&"-+*'&$%%*%"G'+*#'*#C*%%*%$#+*,$%;*+*+'!2$%%'%"'$B$-+*%2"%
&*+'# '# $#&%2&2%'# #*4"'"# $##$ 4*-&$@&* A $#4%"&* * %*/'-4$ +$ *2%-"$% #*4"05*.*
*'B$-&2%'+$*2#''-&*#M9,? O'<"%/'82$-$##$,$%;*+*9&2+*,'%$4$-$.*4"3B$5
$&%'-#<*%/3B$5'*-;B$5+'$/,%$#'*2+'<'/;5"'9+*,'%&"+**2+*#"-+"4'&*9/'#'*/$#/*
&$/,* -'+' +$ -*B* ,'%$4$ ,*##;B$5 '* -;B$5 +' #*4"$+'+$ -* #$2 &*+* *2 +' -*##' B"+'
,$##*'5$-82'-&*/$/:%*#+'#*4"$+'+$
/2-+*$#&3%$B*5&'+*$+$4$,4"*-'+*4*/*#%2/*#+'/*+$%-"+'+$982$<2."2'*
#$2 ,%*P$&* "-"4"'5 $ #$ /*#&%*29 -' B$%+'+$9 2/' .%'-+$ 4'2#'+*%' +$ <%2#&%'(I$# $
+$#".2'5+'+$#9,*"#','%&"%+'#/2+'-('#+'$#&%2&2%'#*4"'5$+',*##":"5"+'+$+$,'##'%+$
2/'45'##$#*4"'5E*2&%'9&*+*#*#C*/$-#,'##'/'&$%'#,"%'(I$#/'"#".2'5"&3%"'#2'582$%
"-+"B;+2*,*+$'*/$-*##*-C'%4*/',*##":"5"+'+$+$#$%%"4**2<'/*#*$*<'&*+$-$/
#$/,%$"##*'4*-&$4$%'4':'&%'G$-+*.%'-+$#+$4$,(I$#3/2"&*9'.%$P'-)*$@$%4$/'"#
.%'-+$"-<526-4"','%'P2#&"<"4'%'#+"<$%$-('##*4"'"#4*/*2/+$#;.-"*+"B"-*4"+$-&$
,$%+$&*+*#$2.5'/*2%$'*#*5C*#+'#*4"$+'+$,'##''#$%B"#&*4*/*B"5)*
* #A425*Q 2/ "-+"B"+2'5"#/* #$425'%9%'4"*-'5"#&'$ ,%*.%$##"#&' +*/"-'B' *
,$-#'/$-&*K$#45'%$4"+*MH9= XX9,Y=O9/'#','%&"%+'!2$%%'%"'92/-*B*
NX
&",*+$"-+"B"+2'5"#/*&*/'4*-&'+'C2/'-"+'+$`2/#$-&"/$-&*82$9'5A/+''2&*-*/"'$
+' 5":$%+'+$ +* "-+"B;+2*9 ,%$.' ' #2' &*&'5 "-+$,$-+6-4"' +* %$#&'-&$ +' #*4"$+'+$ "-+"B"+2'5"#/*/*+$%-*#$'.".'-&*2+$&'5<*%/'82$<"4*2+$<*%/'+*,$5*$.*4$-&%"#/*
%$B*52()* 425&2%'5 +$ <"-# +* #A425* QQ ,*+$ '##"/ #$% /'"# :$/
$-&$-+"+' 4*/* * &%"2-<* +* "-+"B;+2* #*:%$ ' #*4"$+'+$9 *2 /$5C*%9 *
%*/,"/$-&* +*# <"*# 82$ '-&$# 5".'B'/ *# #$%$# C2/'-*# $/ &$@&2%'#
#*4"'"#*"#$##'#&$@&2%'#4*-#"#&"'/-)*',$-'#-'#%$5'(I$#+$<'&*$-&%$
#$%$# C2/'-*# $ #2'# <*%/'# +$ *%.'-"G'()*9 /'# &'/:A/ -*# /*+$5*#
.$%'"#+$##'#%$5'(I$#$*#,'+%I$#$#,$%'+*#+$4*/,*%&'/$-&*+'#,$##*'#
2/'# 4*/ '# *2&%'#F #$2# ,',A"# $%'/ ,%$#4%"&*#9 $/:*%' -$/ #$/,%$
$#4%"&*#MH9= NN9,>?O
C*/$//*+$%-*#*<%$2/'4%"#$$#,"%"&2'5$+$"+$-&"+'+$F&'&$"'$/2//2-+*-*
82'5,%$+*/"-''<'5&'&*&'5+$'5"4$%4$#,'%'82$#$P',*##;B$5'<"%/'%#$.2%'/$-&$82'582$%
4*"#'
4*5',#* 425&2%'5 82$ B"B$ ' #*4"$+'+$ /*+$%-' <'G 4*/ 82$ /2"&'# ,$##*'# #$
B*5&$/ ,'%' &",*# +$ $#,"%"&2'5"+'+$ +"B$%#*#9 4*/* * :2+"#/*9 *2 /$#/* ' "*.'
M#$425'%"G'+'-'#*4"$+'+$*4"+$-&'5$$-4'%'+'4*/*2/'&$%',"','%'*$#&%$##$O9P382$'
".%$P'4%"#&),$%+$2/2"&*+$#2'4%$+":"5"+'+$-*#Z5&"/*#'-*#C*/$/,'##'':2#4'%*
,%"/"&"B*9*:$5*9*#2,$%"*%/$-&$"-&$%$##'-&$
`-'"+$"'+'K,$%<$"()*+*#,%"/0%+"*#L9$@,%$##)*+$2/'$@,$%"6-4"'%$5"."*#'/'"#
;-&"/' $ /'"# ,%*<2-+'9 '5"/$-&'+' ,$5' %$4*%+'()* "/'."-3%"' +$ 2/ K'%';#* ,$%+"+*L9 +$
2/':$'&"&2+$82$,%$4$+"''4*-+"()*C2/'-''&2'5M
9= ? 9,Y?O82$2/','%&$
+'#*4"$+'+$4*-&$/,*%J-$'&$-&'#$$#4*%'%,'%'#2,*%&'%*,$#*+'/*+$%-"+'+$
/'$@,%$##)*+$%$,Z+"*E/*+$%-"G'()*$E#*4"$+'+$/*+$%-'%$<5$&$1#$4*//'"#
"-&$-#"+'+$-*/$"*'%&;#&"4*#$P'-'5"&$%'&2%'*2-'#'%&$#,53#&"4'#9-',%*5"<$%'()*+*#
$#&2+*# $&-*.%3<"4*#9 4*/* *# +$ 5'2+$ AB"1&%'2##9 $ -' 4%$-(' '%4'"4' +$ 82$ '
4'&3#&%*<$A'4*-#$826-4"'<'&'5+'KB$5C"4$L$+'+$4%$,"&2+$+*2-+*M
9= ? 9,
NNO # C*/$-# $#,$%'/ 82$ * /2-+* #$%$-*B$ $' #*4"$+'+$ 4*/* -2/ ,'##$+$ /3."4'
B"B'C'%/*-"*#'/$-&$4*/*B"B$%'/+)*$B'-*`+$-
*:$##'#-*B'#,$%#,$4&"B'#+*#"-+"B;+2*#-*,$%;*+*$/82$<*"$#4%"&***:"-#*-
+$ *2%-"$%9 A ,*##;B$5 $-&$-+$% +$ 82$ <*%/' ! #$
$-4'"@'-*,',$5+$/"&*+'#*4"$+'+$4*-&$/,*%J-$'
N?
;-<%.%%%%%(
%%%%?
/ !9 ' &$-&'&"B' +$ *:"-#*- +$ %$4*-#&%2"% '
$#&%2&2%'+'4"B"5"G'()*+'82'5<*"'%%$/$##'+*<*%'&*%-'1#$$82"B*4'+'82'-+*9'**5C'%$/
B*5&'9$5$,$%4$:$2/'/:"$-&$&*&'5/$-&$C*#&"5E82"5*82$,%$&$-+$*4*-&%3%"*+*82$$5$
B"#"*-'%'9 ' "5C' *<$%$4$15C$ 2/ -*B* &",* +$ #*:%$B"B6-4"'9 -' 82'5 -)* A ,*##;B$5 "/,*%
B'5*%$#/*%'"#$$4*-V/"4*#5".'+*#$#&%"&'/$-&$E#,$##*'#4"B"5"G'+'#9$-)*'2/'/:"$-&$
*2 ' 2/ "-+"B;+2* #$5B'.$/ /$&'/*%<*#$ *,$%'+' #$%3 /2"&* /'"# %'+"4'5 +* 82$ '
#"/,5$#"-4*%,*%'()*+$-*B*#B'5*%$#F$5'"/,5"4'%3*','.'/$-&*+$&*+'2/'4*-#4"6-4"'
+$C2/'-"+'+$$9,%"-4",'5/$-&$9+$4"B"5"+'+$4*/*#2,$%"*%"+'+$
*2%-"$% +*&' * /"&* +$ *:"-#*- +' <2-()* ,%"/*%+"'5 +$ $#45'%$4$% '# #$4%$&'# $
4*-<2#'#'#,"%'(I$#C2/'-'#9-*/*/$-&*$/82$9#$.2-+**25*2/"AM= ??O9*4"+$-&$
+$#4*:%"' '&%'BA# +$ $#&2+*# $&-*.%3<"4*# ' $#,"%"&2'5"+'+$ +$ 2/' C2/'-"+'+$ '%4'"4' C*/$/ 4*-&$/,*%J-$* ':%$1#$9 -$##$ /*/$-&*9 ' -*B'# $@,$%"6-4"'# /;#&"4'#9 &'5B$G ,'%'
&$-&'%+*&'%+$2/,*24*+$#$-&"+*'5*242%'+$#$-<%$'+'82$&*/'4*-&'+*#A425*QQ
5$# 4*/,%$$-+$%'/ 82$ #0 ,*+$%3 C'B$% 2/ B$%+'+$"%* %$4*/$(* +$,*"#
+$2/B$%+'+$"%*"/9/'"#+*82$82'"#82$%*2&%*#/*+$%-*#9*#'%&"#&'#
',5"4'%'/1#$ ' +$#&%2"% $<$&"B'/$-&$ * #$2 2-+*9 ' <"/ +$ %$4%"'%$/ 2/
-"B$%#* '%&;#&"4* -* 82'5 * C*/$/ ,*##' #"/25&'-$'/$-&$ $@"#&"%9
4*-&$/,5'%$#*-C'%M
9= ? 9,WWO
` '##"/ 82$ "%4$' 5"'+$ $@,5"4' * .%'-+$ -""5"#/* +' '%&$ 4*-&$/,*%J-$'9 '
"%%'4"*-'5"+'+$9 * M "/,%$.-'-+* '# $@,*#"(I$#9 '# *:%'# 5"&$%3%"'#9 * 4"-$/' +'
/*+$%-"+'+$4*-&$/,*%J-$'9-*<"/+'+A4'+'+$N$"-;4"*+*#'-*#W5$P2#&"<"4'&2+*
"##* ,$5'&$-&'&"B' '%&;#&"4' +$ ','.'/$-&* +$ 2/' %$'5"+'+$ ' <"/ +$ 4*-#$.2"% %$4%"'% 2/'
*2&%'/'"#'4$"&3B$5$/$-*#4%2$5
*/"##*-)*#$,%$&$-+$$-4'"@'% !-$##$&",*+$
&$-+6-4"' -""5"#&'9 /$#/* 82$ '##"/ 4*-#"+$%$/ '5.2-# 82$ *2%-"$% $ *2&%*# '%&"#&'#
<'G$/9 '&%'BA# +$ #2' #$-#":"5"+'+$ '.2('+'9 A %$,%$#$-&'% ,%$/'&2%'/$-&$ -2'-4$# +$
,$-#'/$-&*#82$-'#*4"$+'+$'"-+'B"%)*'#$&*%-'%4*%%$-&$#*2+*./'#'%&"#&'A#$/,%$
*,%"/$"%*',$%4$:$%'#/2+'-('#9'4*-&$#&'%2/'B$5C'*%+$/)*#*:%$&2+**#'%&"#&'#
82$ %$,%$#$-&'/ '# B$%+'+$"%'# <*%('# 4%"'+*%'# +$ 2/' 4"B"5"G'()* *2 +$ 2/' #*4"$+'+$
N &%'BA#+$#2'4%"'()*9*#'%&"#&'#'-&$4",'/'82"5*82$"%3'4*-&$4$%,*%B$G$#2/'*2+2'#
.$%'(I$#/'"#&'%+$-*#*2&%*##$&*%$#+'B"+'#*4"'5$425&2%'5M
9= ? 9,WWO
,',$582$5"'+$'&%":2"'*'%&"#&'9-'-*B'B$%#)*+*/"&*+$*:"-#*-%2#*$9A*
/$#/* '+*&'+* &'/:A/ ,$5' ,$%#*-'.$/ %2#*$ A * C*/$/ +$#4*-#&%2&*% +$ &*+* 2/
2-"B$%#*+$.%'+'+*$+$.%'+'-&$+$B'5*%$#$,%$4*-4$"&*#982$$5$#2:#&"&2",*%2/-"B$%#*
/'"#$#,"%"&2'5"G'+*$'4$"&3B$5,'%''#2'"-+"B"+2'5"+'+$%2#*$4*-&$#&''B$5C'*%+$/$#$
'5"''2/'-*B'*%+$/
:%2#4* %*/,"/$-&* 4*/ *# B'5*%$# +' #*4"$+'+$ +' 82'5 ,'%&"2 $ ' $B*52()*9 82$
425/"-' -' +$4"#)* +$ ,$%/'-$4$% "#*5'+* +* %$#&'-&$ +' #*4"$+'+$9 #)* "-+"4'+*%$# +'
"-#'&"#<'()* +* C*/$/ 4*-&$/,*%J-$* 4*/ ' *%+$/ 4%"#&'5"G'+' $ ' #2' :2#4' ,*% -*B*#
4'/"-C*#,'%''%$'5"G'()*,$##*'5*+''/2+'-('#*<%"+',$5',$%#*-'.$/A"-+"B"+2'5$
-)* %$,$%42&$ -' #*4"$+'+$ # C*/$-# -)* '4%$+"&'/ /'"#9 '##"/ 4*/* '%@9 -2/'
/2+'-('+'*%+$/#*4"'5$/#$24*-P2-&*
$##$/*+*A,%$<$%;B$5/'-&$%1#$"#*5'+*
C"#&0%"'+**:"-#*-%2#*$+$*2%-"$%,'##'1#$$@'&'/$-&$2/#A425*+$,*"#+'
+* *:"-#*- +$ $<*$ -*B* *:"-#*- A9 ,*%&'-&*9 2/ "-+"B;+2* +' #$.2-+' /$&'+$ +*
#A425* Q9 82$ P3 &$/ /'"# <*%&$/$-&$ $-%'"G'+*# *# B'5*%$# +' 45'##$ :2%.2$#' -'2<%3."*'4*-&$4$',$-'#>'-*#'-&$#+'$B*52()*%'-4$#'9*2#$P'9-2/,$%;*+*$/82$
'# "+$"'# :2%.2$#'# P3 $#&'B'/ #$ +$5"/"&'-+* +$ <*%/' /'"# 45'%' $ #$ +"<2-+"-+* :2%.2$#"''#4$-+"'.%'+'&"B'/$-&$-$##$#A425*$5*.*&*/'%"'*,*+$%
2&%'# /2+'-('# ',*-&'/ ,'%' 2/ %*/,"/$-&* /'"# +*5*%*#* +$ *:"-#*- 4*/ '
4"B"5"G'()*94*/*9,*%$@$/,5*9'<'/;5"'82$4*-#&"&2"2$/#2'&$%%'-'&'5'/:A/*<'&*+$
&$% #"+* $+24'+* +$-&%* +$ 2/' #$"&' %$5"."*#' $ +$ &$% %$'5"G'+* $#&2+*# 2-"B$%#"&3%"*# #0
'4$-&2'/ * 4'%3&$% 4"B"5"G'+* +$ *:"-#*- $/ 4*-&%'#&$ 4*/ * #$5B'.$/ -82'-&* *
,%"/$"%*%2#*$A9',$#'%+$/'"#B$5C*-'*4'#")*+*-'2<%3."*92/'B$-&2%$"%*#$/',$.*
-$-C2/E#"-#&"&2"(I$##*4"'"#94*/*'<'/;5"'$'".%$P'9$/:2#4'+$'B$-&2%'#
$<*%('-+*'*/3@"/**,',$5+$C*/$/4"B"5"G'+*$/*:"-#*-9*2%-"$%4*-#$.2$
&*%-'% /'"# +$#$P3B$5 ' %2,&2%' +' ,$%#*-'.$/ 4*/ ' '-&".' *%+$/ +$ B'5*%$# 82$
'5"4$%('B'/ #$2 /*+* +$ B"B$% $ 82$ +2%'-&$ *# ,%"/$"%*# '-*# +$ ,$%/'-6-4"' -' "5C'
+$&$%/"-'%'/ * #$2 4*/,*%&'/$-&* ##"/ 4*/* * C*/$/ /*+$%-*9 #0 '.*%' 82$ '#
#$82$5'#+'/*+$%-"+'+$'&"-."%'/#$2,*-&*/3@"/**2,$5*/$-*#'##"/#$$#,$%'9$5$
#$-&$-$4$##"+'+$+$%*/,$%4*/'*%+$/$#&':$5$4"+'
/$&'/*%<*#$+$*:"-#*-#$+3'&%'BA#+$2/'#A%"$+$%2,&2%'#M`
9= hO
W
• %2,&2%'4*/*,2%"&'-"#/*4%"#&)*$'4'-'5"G'()*+*#"-#&"-&*#$/+"%$()*'*
&%':'5C*$E,%*4%"'()*F
• %2,&2%' 4*/ * &%':'5C* 4*-#"+$%'+* 4*/* B'5*% ':#*52&* $ * 4%$#4"/$-&*
<2-+'+*#*:%$'*%.'-"G'()*4'+'B$G/'"#%'4"*-'5+*&$/,*$+*$#,'(*9$'
'42/25'()*+$4',"&'5F
• %2,&2%'4*/2/#"#&$/'+$+*/"-'()*+*#$-C*%$/%$5'()*'*$#4%'B*$9,*%
$@&$-#)*9 4*/ &*+' <*%/' +$ 4*5*-"'5"#/*9 $B*4'+'# ,$5'# %$5'(I$# $-&%$
*:"-#*-$$-+%$+"-*"-;4"*+$#$2%$5'4"*-'/$-&*
*:"-#*-9"-"4"'5/$-&$9-)*#$#$-&$,%$,'%'+*,'%'B"B$%-2//2-+*-)*14"B"5"G'+*
`,*%"##*82$#$',$.'<$%%$-C'/$-&$E;:5"'9$%$'5"G'2/',%3&"4'82$A%$#82;4"*+$2/
4*#&2/$ :'#&'-&$ 4*/2/ $-&%$ *# ,2%"&'-*#9 * +$ ':%"% ' ;:5"' '5$'&*%"'/$-&$ $ 5$% '5.2/
&%$4C*'-&$#+$&*/'%2/'+$4"#)*
2'%*&"-'+$&%':'5C*A%;."+'$$#&%$##'-&$9/'#%$'5"G'+'4*/$/,$-C*50."4'+$
&%':'5C*B"#'E'42/25'()**:"-#*-4*-#&%0"2/'$#,A4"$+$'%/'GA/,'%'.2'%+'%&*+*#*#
'5"/$-&*#82$4*-#$.2$,%*+2G"%5A/+"##*9&*%-'1#$+*-*+$2/.%'-+$%$:'-C*+$4':%'#
5$'"-+'<':%"4'2/'45$,#"+%''&%'BA#+'82'5%$.25''#C*%'#+*#$2+"'9-2/'%*&"-'
+$ &%':'5C*9 *%'()* $ ,*24*# /*/$-&*# +$ 5'G$% $-&$1#$ &)* #$+$-&* +$ 4"B"5"G'()* 82$
4*-#&%0" 2/ /2#$2 +$ ,$#*# $ /$+"+'# $ #*-C' $/ 4*-#$.2"% '5.2/ +"' 4'&'5*.'% 4'+'
'-"/'594'+',5'-&'$4'+'4$-&;/$&%*+'"5C'
2' %$5'()* 4*/ $-+%$+" A $@&%$/'/$-&$ 4*-&2%:'+' 5$ $@".$ '# &'%$<'# /'"#
$@'2#&"B'#+$#$24%"'+*$2/&%'&'/$-&*<*%/'59'5"/$-&'-+*4'+'B$G/'"#*#$2$.*9-2/'
"52#)* +$ #2' #2,$%"*%"+'+$ +$ C*/$/ :%'-4* $ 4"B"5"G'+* ` /2"&'# B$G$# 4%2$5 4*/
$-+%$+"9 #2%%'-+*1*9 $ "-#"#&$ -' &$-&'&"B' +$ 4'&$82"G'% * "-+;.$-' /$#/* #':$-+* +'
B'-"+'+$+*##$2#$#<*%(*#
#2#&$-&'()* +$##$ #"#&$/' A ':'5'+' '5.2/'# B$G$# ,*% '5.2/'# 4*-&%'+"(I$#
*:"-#*- $/ +$&$%/"-'+'# #"&2'(I$# <*.$ +' %$'5"+'+$ "-#05"&' 82$ 4%"*2 -' "5C'9
"-&$%%*/,$-+**<2-4"*-'/$-&*+'45$,#"+%''%'$5$9A4*/*#$,*%'5.2/'#C*%'#*&$/,*
,'%'##$+$4*%%$%$$5$,2+$##$#$$-&%$.'%'*/2-+*+'##$-#'(I$#
##$ 4*/,*%&'/$-&* $#,*%3+"4* +$ *:"-#*- #$ ',%*@"/' +* ,$-#'/$-&* ,%"/"&"B*9
-*82'5*/2-+*A%$."+*,$5''&2%$G'$*$/,*,%*<'-*9C"#&0%"4*9+$B$#$%':*5"+*$/
,%*B$"&*+$2/&$/,*/;&"4*$#'.%'+*
&%'-#<*%/'()* +$ B'5*%$# '4*-&$4$9 ,*%&'-&*9 +$ /'-$"%' .%'+2'5 *:"-#*- -)*
'4*%+' 2/ +"' #$ 82$#&"*-'-+* #*:%$ * #$-&"+* +$ #2' B"+'9 %*/,$-+* 4*/ &2+*
W=
"/$+"'&'/$-&$#+ZB"+'#9'B"#2'5"G'()*+$2//*+*+$B"+'+"B$%#*+*4*-C$4"+*9<*%'/
#$4*-#&%2"-+*-'/$-&$+*,%*&'.*-"#&''&%'BA#+$,$82$-*#"-4"+$-&$#$+$5*-.'#%$<5$@I$#
'#9 &$/$-+* ' %$B*52()* 82$ P3 ,$%4$:"' ,%$#&$# ' $45*+"%9 *:"-#*- '<$%%'B'1#$ 4'+' B$G
/'"#'*##$2#'-&".*#B'5*%$#9/$#/*4*-B$-4"+*+',*##":"5"+'+$+$B"B$%*2&%'%$'5"+'+$
$2+"3%"*-*#/*#&%'*+%'/'"-&$%"*%82$*'<5".$
"%3 <'&'5/$-&$ 2/ &$/,* -* 82'5 2/ *:"-#*- 4'+' B$G /'"#
0% -)* ,*+$%3 /'"# #$% * .*B$%-'+*% $ * '%82"&$&* +$ 2/'
4"+'+$ 4'+' B$G /'"# "0 2 P3 #2%,%$$-+* +$<'#'.$-# -' /"-C'
'&"B"+'+$ $@&$%"*% C$.' ' '4*-&$4$% +$ $2 &%':'5C'% #$/ '4%$+"&'%
B$%+'+$"%'/$-&$ -'82"5* 82$ <'(*9 $ ' 82'5"+'+$ $ ' 82'-&"+'+$ +$ /$2
&%':'5C* -)* #$ /*+"<"4'/ * 4*-&%3%"*9 C3 $/ '5.2-# $#<*%(*# 2/'
$/:%"'.2$G +$ %$,$&"()* 82$ +3 &*+'# '# B'-&'.$-# ' 2/' +$#$%()* +*
$#,;%"&* &%':'5C'1#$ ,*% &%':'5C'% #$/ ,$-#'% -* <"/ ,$%#$.2"+*N M9= X9,==X9.%"<*#+*'2&*%9&%'+2()*-*##'O
%$B"%'B*5&' +$<"-"&"B' -'# 4*-+"(I$# +$ B"+' -' "5C' '4*-&$4$ +$,*"# +' $@,5*#)*9
4'2#'+''4"+$-&'5/$-&$,*%$-+%$+"*+**B$#&;."*+$4"B"5"G'()*82$*:"-#*-52&'B',*%
4*-#$%B'%$4*-#&%2"%9/"-'+*'*#,*24*#,$5*#$5B'.$/9%2"+$2/"-#&'-&$,'%'*2&%*$##'
*4'#")*9*4)*$--/*%%$/*%&$+*'-"/'5+*/A#&"4*#"/:*5"G','%'*:"-#*-*<"/+'
$%'4"B"5"G'+'2-&*4*/*4)*$@&"-.2$/1#$'4'#'9'#,5'-&'(I$#9'#4%"'(I$##2'/*%&$A
$/:5$/'&"4'/$-&$'/*%&$+'"5C''+/"-"#&%'+','%&"%+';9$5$$-&%$.'1#$4*/,5$&'/$-&$
'*,%"/"&"B"#/*9+$"@'-+*+$2#'%%*2,'#9+$+*%/"%+$-&%*+$2/'4'#'$+$&%':'5C'%9,'%'
B"B$%"-&$-#'/$-&$4'+'/*/$-&*$/:2#4'+$/'-&$%2/4*-&'&*,%*<2-+*4*/''&2%$G'$
*##$2#$5$/$-&*#
5$,'##''B"B$%#$.2-+**82$,*+$*:#$%B'%+$$-+%$+"$+$#$P'/$#/*#$,'%$4$%
4'+' B$G /'"# 4*/ $5$9 &*%-'-+*1#$ #$2 ',%$-+"G /2+'-(' :%2#4' A 4*%*'+' ,$5*
%$P2B$-$#4"/$-&* +* ,%*&'.*-"#&'9 * 82'5 ,$%/"&$ '54'-('% 2/ :$/1$#&'% $/ %$5'()* ' #"
/$#/* *:"-#*- A 2/ C*/$/ &*&'5/$-&$ +$#,%*B"+* +$ -$4$##"+'+$# /'"*%$# +* 82$
'82$5'#*<$%$4"+'#,$5'"5C'
$#+$$##$+"'-)*&%':'5C'%3/'"#Z-"4'4*"#'82$4*-#$%B'A
N
- ' $-$ $& C &- &- & &- :$ -
%'$-;#$$;$9&-&-
29676&&%7'
$'$9<$92-;'$'--'$7!6 *$-!-$9$-!$$9
$'-$$:&2$*-.$ $'9&9$$!
$$ 7 %% 7 9$ -;&$ + $'-- & $'-- & $ &'2
M9= X9,==X9.%"<*#+*'2&*%O
W
* #$2 +"3%"*9 42P' <2-()* ,'%$4$ #$% ' +$ $B"+$-4"'% ' $B*52()* "-&$%"*% +$ *:"-#*- &%'-#<*%/'()*A/*%'5$<;#"4'
3 4*/,5$&'/$-&$ /$&'/*%<*#$'+*9 *:"-#*- &$/ ' *,*%&2-"+'+$ +$ #$% %$#.'&'+*9
',0# ? '-*# +$ &*&'5 "#*5'/$-&* +' 4"B"5"G'()* ` * /*/$-&* '-#"'+* ,*% /2"&* &$/,* $
'.*%' +$#,%*B"+* +$ 82'582$% "/,*%&J-4"' *:"-#*- ,$%4$:$ 82$ ' 4"B"5"G'()* /*+$%-'9 *
#$2:$%(*$'#2':'#$9$#&34*%%*/,"+',*%B'5*%$#9C3,*24*,*%$5$':%'('+*#"5C'A*
52.'% *-+$ B"B$2 *# '-*# /'"# .%'&"<"4'-&$# +$ #2' $@"#&6-4"' +$4"#)* +$ ,$%/'-$4$% $/
,$%'-G' +$4$,4"*-' ##"/ 4*/* -*# +$4$,4"*-'/*# 82'-+* #*/*# *:%".'+*# ' '##2/"%
82$$#&'+$4"#)*<*"'/'"#:$-A<"4','%'*:"-#*-982'-+*-*#*:%".'/*#''##2/"%82$'#
$@,5*#I$# 82$ %$B*524"*-'/ B"+'# -)* '4*-&$4$/ /'"# -2/ J/:"&* 4*5$&"B*9 /'# ',$-'#
"-+"B"+2'5/$-&$
##"/A82$*/"&*+$*:"-#*-%2#*$94*-#"+$%'+*2/+*#/"&*#+*"-+"B"+2'5"#/*
/*+$%-*9 ,V+$ #$% %$$#4%"&* +$-&%* +$ -*B*# ,'%'+"./'# C*/$/ "-#'&"#<$"&* 4*/ '
4"B"5"G'()*E82'5,$%&$-4$9<*.$+$#2'%$'5"+'+$9:2#4'-+**2&%'#<*%/'#+$$@,$%"6-4"'982$
5C$,%*,*%4"*-$/2/,%'G$%P3-)*%$'5"G3B$5-*,5'-*4*-4%$&*##'$@,$%"6-4"'"/,*##;B$5
5$B' /"5C'%$# +$ ,$##*'# ' %$4*%%$%$/ ' ,'5"'&"B*#9 82'#$ -2-4' #$.2%*# *2 %$4*/$-+3B$"#9
4*/*'#+%*.'#*2',%3&"4'+$$#,*%&$#%'+"4'"#
'+' "-+"B;+2* +* /2-+* 4*-&$/,*%J-$* ,'%$4$ $#&'% /'"# <$5"G E /$+"+' 82$ *
/2-+*#$<$4C'$/&*%-*+$5$$,$%/"&$$#&$-+$%#2'#<'-&'#"'#"5"/"&'+'/$-&$9$/:2#4'+'
<$5"4"+'+$ /'"# +"<;4"5 +*# *:#&3425*# ' #2,$%'% A * %$#&'-&$ +' #*4"$+'+$ /*+$%-'9 4*/
#$2#B'5*%$#$#2'#5$"#+';#2%.$*+$#$P*+*%$&*%-*'*,%"/"&"B*
*:"-#*-"#*5'+*-'"5C'-)*82$%/'"#B*5&'%E4"B"5"G'()*5$82$%',$-'#,*+$%
%$'5"G'%+$#$P*#9-2/'+"/$-#)*Z-"4'9$&$%5":$%+'+$&*&'5,'%'B"B615'
*-<*%/$'#,'5'B%'#+$H'&&M=
XO9*:"-#*-#':$82$#$B*5&'%E4"B"5"G'()*#$%3
,'%' &*%-'%1#$ $#4%'B* +$5' $ +$ #2'# "-#&"&2"(I$# '# 82'"#9 -* #A425* Q9 82'-+* B"B$ '
,$%#*-'.$/9P3$@$%4"'/.%'-+$"-<526-4"'-'B"+'+*4"+'+)*4*/2/
W>
<$'!!'$@)!'
*:%' +$ *2%-"$% %$/*-&' ','%$-&$/$-&$ E# <*%/'# %*/'-$#4'# &%'+"4"*-'"#9
$-82'-&* *# &$/'# ':*%+'+*# -' -'%%'&"B' $/,%$#&'/15C$ 2/ 4'%3&$% C*+"$%-* # 5*-.'#
+$#4%"(I$#9 * <52@* -'%%'&"B* 5"-$'% $ ' 2&"5"G'()* +$ 2/' 5"-.2'.$/ 45'%' $ 4*$%$-&$
',%*@"/'/ #2' $#4%"&2%' E +$ '2&*%$# %$'5"#&'# $ 4'2#'/ ' "/,%$##)* +$ 2/' <*%/'9 -'
%$'5"+'+$9-)*14*-&$/,*%J-$'$.2-+*2&4C$*-M= =O9C3&$-+6-4"''4%$%82$2/'<*%/'
"-*B'+*%'+$B'#$%C$%/A&"4'$$@,$%"/$-&'594*/*A*4'#*+$4$%&'#5"&$%'&2%'#%$4*%%$-&$#
'*"+$'5/*+$%-"#&'9+$<$-#*%+'$5"&"G'()*+''%&$94*/*'5.*#$,'%'+*+'B"B6-4"'4*&"+"'-'
+' C2/'-"+'+$ ##$ A * /*+$5* '+*&'+* ,$5* *B* */'-4$ <%'-46# +$ *::$1!%"55$& *2
,$5' %$B"#&' +$ 4%;&"4' 5"&$%3%"' "- -9 "-4$-&"B'+*%$# +' 4%"'()* +$ -'%%'&"B'# 82$
%*/,$##$/4*/*#,%$##2,*#&*#+*%*/'-4$:2%.26#'&%'BA#+'+$#'.%$.'()*+'#-*(I$#+$
&$/,*$$#,'(*9+'/"-"/"G'()*+'"-&%".'4*/*$"@*-'%%'&"B*$+'%$42#'+$4'%'4&$%"G'()*
,%$4"#' +'# ,$%#*-'.$-#9 %$&"%'-+* +$5'# #2' 4'%'4&$%;#&"4' /'"# %$,%$#$-&'&"B'9 ,*"# 4*/*
5$/:%'*%#&$%M= ??9,XO*'#,$4&*<2-+'/$-&'5+$2/%*/'-4$A4*-&'%2/'C"#&0%"'
<*%/'+$ !9 $/:*%' *2#$ ,*24* -* 4'/,* +'
$@,$%"/$-&'()*9 .2'%+' 4$%&'# ,$425"'%"+'+$# ,%$#$-&$# -'# -'%%'&"B'# /'"# '&2'"#9
45'##"<"4'+'#4*/*'+$,&'#+'#4*%%$-&$#,0#1/*+$%-"#&'#
$/:'#'/$-&*+*5"B%*A,'%'+*@'5&'-&*4*/%$#,$"&*E<*%/'82'-&*'*#&$/'#*
/$#/*&$/,*$@'5&'*,%"/"&"B*$#$"-#,"%'$/2/'+'#-'%%'&"B'#4*-#'.%'+'#4*/*%$<5$@*
+*4*/,*%&'/$-&*+*C*/$//*+$%-**-&%'+"()*"/'-$-&$E-'&2%$G'+*#$%C2/'-*$/
.$%'5982$B"B$+"B"+"+*$-&%$'#%$#&%"(I$##*4"'"#$/*%'"#+'4"B"5"+'+$$#$2#"-#&"-&*#82$*
4*-+2G$/'2//2-+*+$#$-#'(I$#"-4*-&%*53B$"#2-.M= XX9,YNO$#45'%$4$$##$4*-<5"&*
'* '<"%/'% 82$ -* /2-+* ,%"/"&"B*9 '# 4*"#'# -)* &$/ <%*-&$"%'# &)* %;."+'# 4*/* '# +'#
-*##'##*4"$+'+$#K%'4"*-'"#LC*/$/,%"/"&"B*B"B"'2/'A,*4'-'82'5#2,$%':2-+'B'/
'##2,$%#&"(I$#$B'5*%"G'B'/1#$/'"#*##$-&"+*#$/B$G+'%'G)*9$@'&'/$-&$9*%$&*%-*
'*,%"/"&"B"#/*A*$"@*&$/3&"4*4$-&%'5+'-'%%'&"B'+$*2%-"$%
# ,%$*42,'(I$# 82'-&* E %$4$,()* +* ,Z:5"4* 5$"&*% B*5&'/1#$ &'/:A/ ,'%'
,$%#,$4&"B'# +' 5"&$%'&2%' ,0#1/*+$%-' / $<*$9 ' ,%$*42,'()* A&"4' <2-+'/$-&'5 A
'##$.2%'%82$'C"#&0%"'82$$#&3#$-+*-'%%'+'#$P'%$4$:"+'4*/*%$5'&*+$'4*-&$4"/$-&*#
B$%;+"4*#/9'A&"4'#$+"%".$-*#$-&"+*+$+$"@'%45'%'',*#"()*+$%$&*/'+'+$
2/'-'%%'&"B''-&$%"*%9<'G$-+*%$<$%6-4"'#+"%$&'#$$@,5;4"&'#'*&$@&**%"."-'5
WY
$.2-+* 2&4C$*- M= =9 , =YNO ' ,%$*42,'()* +* #A425* Q $/ %$5'()* E#
/$-&"%'#$E<'5#"+'+$,'##''#$%2/',%$*42,'()*,0#1/*+$%-'$/%$5'()*E/25&",5"4"+'+$
$E+"#,$%#)*+'M#OB$%+'+$M#O9B$%+'+$M#O%$<$%$-&$M#OE$#,$4"<"4"+'+$+*5*4'5$+'425&2%'
$$#4%$B$-+* * /"&* +$ *:"-#*- %2#*$9 *2%-"$% %$B$5' ' ,*##":"5"+'+$ +$ %$-*B'% $
'&2'5"G'%2/'C"#&0%"'4*-#'.%'+'9'+$82'-+*1''-*B*#,$-#'/$-&*#9-*B*#&$/,*#
<*%/' $-4*-&%'+' ,$5*# '2&*%$# ,0#1/*+$%-*# +$ $#&':$5$4$% 2/ B;-425* 4*/ *
,'##'+*A*2#*+'"%*-"'9$'"-&$%&$@&2'5"+'+$4*-<"%/''$@"#&6-4"'+$2/B;-425*9"#&*A9
4*/*'<"%/'2&4C$*-9*4'%3&$%,%"-4",'5+','%0+"'&$%/*,'%0+"'A%$&*/'+*+$#,"+*
+* #$-&"+* ' $5$ '&%":2;+* ,*% /2"&*# 82$ * %$#&%"-.$/ ',$-'# ' &$@&*# C2/*%;#&"4*# /'
,'%0+"' A 2/' %$&*/'+' 4%;&"4'9 A * 82$#&"*-'/$-&* +'# #"&2'(I$# "-&*4'+'# 82$:%' +$
$@,$4&'&"B'# A <2-+'/$-&'5 -' ,'%0+"' /' ,'%0+"' +$"@' $-&%$B$% ' ,*##":"5"+'+$ +$
/2+'-('+$,'%'+"./'*%$#&$,*-&*+$B"#&'9,*+$1#$4*-#"+$%'%
! 2/' ,'%0+"' +' *:%' +$ $<*$9 -* #$-&"+* +$ 82$9 %$&*/'-+* ,$%#*-'.$-# $
,'%&$+*4*-&$@&*9$5$5'-('2/*5C'%"%V-"4*9-$/#$/,%$+$#,"+*+$C2/*%9E#'<"%/'(I$#$
,%$##2,*#&*#+$#B$-&2%'#+$*:"-#*-%2#*$
*% $@$/,5*9 * ,',$5 4$-&%'5 '##2/"+* ,*% $-+%$+" -' -'%%'&"B' +$ *2%-"$% "-"4"'
2/'<%*-&'/$-&*'*/*+$5*&%'+"4"*-'5+*%*/'-4$$#,'(*A*42,'+*&'-&*,$5*C*/$/
:%'-4*9:2%.26#$4"B"5"G'+*94*/*,$5*#$5B'.$/82$-2-4'&$B$4*-&'&*4*/&$4-*5*."'#
##' ,*#&2%' 82$#&"*-'+*%' %$5'4"*-'1#$ +"%$&'/$-&$ E "-<526-4"' 82$ *# '%&"#&'#
%$4$:$%'/ -' +A4'+' +$ W9 4*/ *# B3%"*# /*B"/$-&*# +$ 4*-&$#&'()* +' '2&*%"+'+$ $
#2:B$%#)* +$ B'5*%$# %$'4"*-3%"*#9 4*/* <*" * /*B"/$-&* #&&. *2B$ /2+'-(' +$
,*#"4"*-'/$-&*+*#'%&"#&'#82'-&*'*,',$5+*/*+$%-"#/*$/%$5'()*E/*+$%-"+'+$9#$P'
+$ "-+"<$%$-('9 <$4C'+* ',$-'# -* 2-"B$%#* +$ #2' '%&$9 +$ %$P$"()* *2 +$ &$-&'&"B' +$
'+$82'()*E%$'5"+'+$/*+$%-'#&$Z5&"/*AC*P$+$#".-'+*,0#1/*+$%-"#/*$2"+$'5$%'
4'+' 2/ ':%"%1#$ E "/$-#' B'%"$+'+$ $ %"82$G' +$ 4*"#'#9 /'&$%"'"# $ "+$'"#9 82$ * /2-+*
/*+$%-*"-$#.*&'B$5/$-&$*<$%$4$M9= ?W9,>=O
/ 4*-&%','%&"+'9 ' B"#)* 4*-&$/,*%J-$' +* ,0#1/*+$%-"#/* ',*-&' *# B'5*%$#
C2/'-*#4*/*4*-#&%2&*#9%$."+*#,'%'/'-&$%2/#"#&$/'+$+*/"-'()*$,*+$%5$'-'5"#'
' C"#&0%"' $ +$#B$-+'9 *2 '* /$-*# 82$#&"*-'9 *# '4*-&$4"/$-&*# 82$ 4*-#"+$%'/*# 4*/*
B$%+'+$#"-4*-&$#&3B$"#
!#$/%*/,$%%'+"4'5/$-&$4*/*#,%$##2,*#&*#
+* %*/'-4$9 "-#$%$ $ +$#$#&':"5"G' ' C"#&0%"' +$ *:"-#*- %2#*$ $#4*5C' +$ '5.2-#
%$42%#*#-'%%'&"B*#4*%%*:*%''<2-()*"-*B'+*%'+*&$@&*+$*2%-"$%
WN
<-5%.%(%0(
/'"#$B"+$-&$$#,$4"<"4"+'+$+*&$@&*A'P2#&',*#"()*+$+2'#B*G$#-'%%'&"B'#
-'%%'&"B'$/,%"/$"%',$##*'9%$#&%"&'E#,3."-'#+*-%M)9$-82'+%'"-42%#I$#<"5*#0<"4'#
+',$%#*-'.$/982$<'G$/$4*EB*G+*-'%%'+*%*-"#4"$-&$,$%#,$4&"B'+$##'B*G+"%".$1#$
,'%'%$<5$@I$#+$*%+$/:'#&'-&$4*/,5$@'9$-82'-&**-'%%'+*%$/&$%4$"%',$##*'*42,'1#$9
.%'-+$ ,'%&$ +* &$/,*9 $/ %$5'&'% *# '4*-&$4"/$-&*# $.2-+* *25*2/"A M= ??9 , =X9
&%'+2()*-*##'O''B$-&2%'"-&$%"*%%$."#&%'+'-*-%M)9*+"3%"*;-&"/*+$*:"-#*-9-)*
&$//'"#-'+''B$%4*/'-'%%'&"B'%$'5"#&'+'#*:%$B"B6-4"'+$2/-32<%'.*W982$#$%B$
',$-'#4*/*,'-*+$<2-+*
-%M)','%$4$-*"-;4"*+'&%'P$&0%"'$B*52&"B'+$*:"-#*-$B'"'4*/,'-C315*
'&A /*/$-&*# '-&$# +*&A%/"-* +$ #2'# 'B$-&2%'# * /*/$-&* +' +$4"#)* +$ *:"-#*- +$
+*/"-'% ' "5C' $ &*%-315' "5C' '+/"-"#&%'+'9 $5$ <'G #$2 ,%"/$"%* %$."#&%* -* -%M) #
%$<5$@I$#+)*'/$+"+'$@'&'+*$#&3."*+'$B*52()*+',$%#*-'.$/
<"%/'(I$# +$ *:"-#*- 4*/* /"-C' B"&0%"'9 A ' *%+$/ /*%'5 82$ +$B* "/,*% '
,$%'-G'9 4*-&%' #2' *%+$/ -'&2%'5 82$ #0 ,*+$ #$% 4C'/'+' +$ +$#*%+$/ ':#*52&'W= *2
-$-C2/' &%'+"()* +$B$ ,%$B'5$4$% #*:%$ ' B*G +* #,;%"&* '-&* 82$ $#&3 $/ -0#W
M9 = X9 , N9 &%'+2()* -*##'O '##2/$/ 2/ 4'%3&$% "%V-"4* $ '&A /$#/*
C2/*%;#&"4*9 ,*"# %$,%$#$-&'/ * ',$.* "%%'4"*-'5 +$ *:"-#*- E# 4*-B$-(I$# +' #*4"$+'+$
:2%.2$#' +' 82'5 <'G"' ,'%&$9 '5A/ +$ #$%$/ &*&'5/$-&$ *,*#&'# '*# %2/*# +' $B*52()*
$@,$%"/$-&'+' ,$5* ,%*&'.*-"#&' &*/ "-.6-2* $ ':2%.2$#'+* +* &$@&* B'" #$ +$#<'G$-+*
4*-<*%/$#$+$#<'G*C*/$/4"B"5"G'+*$:2%.26#
-'%%'()* +$ '4*-&$4"/$-&*# :'-'"#9 <$"&' ,$5* -'%%'+*% *-"#4"$-&$9 #$%B$ +$
"52#&%'()* ,'%' ' B$%+'+$"%' $##6-4"' +' C"#&0%"' ' B"+' "-&$%"*% +$ %2#*$ 3 2/'
<%'./$-&'()* +* +"#42%#*9 %$,%$#$-&'&"B' +' <%'./$-&'()* +' ,%0,%"' ,$%#*-'.$/ ".'+*
'"-+''*#B'5*%$#+'4"B"5"G'()*9.%'-+$B"5)+'-'%%'&"B'9*:"-#*-B"B$+"B"+"+*$-&%$2/'
B$5C' $ 2/' -*B' *%+$/ *# /*/$-&*# +$ /'"*% 4*-<5"&* $-&%$ $#&'# +2'# *%+$-# '
"-&$%B$-()*+*-%M)A&'/:A//'"#<%'./$-&'+'##"/9+*4',;&25*'*4',;&25*
W
-;'$$9%9--%M)*-6-$*;&-7''-
9$9-$-'; %92M`9= ??9,=XO
W=
'$* ;$ -; - ! 6 & 7 &F* $ $- ! ;$ !
-;$9-2M9= X9,NO
W
$$$&9'--'<-;&$$!$2M9= X9,NO
WW
*#&$@&*#+*-%M)$'-'%%'()*+*#'4*-&$4"/$-&*#"-&$%4'5'/1#$
$,*"#+'$@,5*#)*9-*
<"/+*4',;&25*9$-&%$&'-&*9-)*C3/'"#'5&$%-J-4"'$-&%$-%M)$-'%%'()*4',;&25*
Q9 +$+"4'+* $@452#"B'/$-&$ E $#4%"&' +* +"3%"* ','%$4$ $/ #2' Z5&"/' /'-"<$#&'()*9
"-+"4'-+*82$*,%0,%"*C$%0"'&"-."2&'/:A/2/'<*%/'Z5&"/'+$#2'$B*52()*
/,'%&$#+*+"3%"*$#4%"&*$/,%"/$"%',$##*'9'<%'./$-&'()*A&)*#$-#;B$5',*-&*
+$ *:"-#*- %$<$%"%1#$ ' #" /$#/* 4*/* $5$9 $-82'-&* * -'%%'+*% C$&$%*+"$.A&"4*9
%$4*%%$-+* <%$82$-&$/$-&$ '* +"#42%#* "-+"%$&* 5"B%$9 +3 B*G '* ,%*&'.*-"#&' #&$ '%&"<;4"*
4'2#''"/,%$##)*+$C'B$%',$-'#2/-'%%'+*%4*-&'-+*'C"#&0%"'9/'#82$'##2/$<*%/'#
+"<$%$-&$#+$+"#42%#'%
i**,/'-1C2%5"-.# M=
=O 4C'/' ' '&$-()* ,'%' * $#&%'-C'/$-&* 4'2#'+* ,$5*
+"#42%#*+*-%M)9+$B"+*'*2#*+$2/'5"-.2'.$/:'#&'-&$':#&%'&'F2/B*4':253%"*82$
-)* #$ '+$82' E ,$%#*-'.$/9 '"-+' :'#&'-&$ P*B$/ -' *4'#")* +* -'2<%3."* * /$#/*
&$/,*9 '# ,'5'B%'# #0 ,*+$/ #$% '&%":2;+'# ' %2#*$ $/ +$4*%%6-4"' +'# /'%4'# &$@&2'"#
:'#&'-&$ $@,5;4"&'# 5$9 ,*% #2' B$G9 ,$%/'-$4$ /2+* .%'-+$ ,'%&$ +* &$/,*9 /$#/* -'
,%$#$-(' +*# ,*24*# "-&$%5*42&*%$#9 $-82'-&* #2' "-&$%"*%"+'+$ A &%'+2G"+' $/ &$%/*#
<"5*#0<"4*#9 4"$-&;<"4*# $ ':#&%'&*# C$%0" -)* %$'.$ 4*/* * <'%"' 2/' ,$##*' +* /2-+*
%$'5/'"#'"-+'9#$2/2&"#/*,$%/"&$'*-'%%'+*%82$"/,*-C'#2',%0,%"'B*G'/:A/
B$/*# * +"#42%#* +* -'%%'+*% <2-+"%1#$ 4*/ * +* ,%*&'.*-"#&'W> Mi1
!9=
=9,?9&%'+2()*-*##'O
#*:#$%B'(I$#+*+"3%"*+$*:"-#*--)*#$%$#&%"-.$/E##2'#%$<5$@I$#<"5*#0<"4'#9
/'#9 /$#45'/1#$ '* +"#42%#* +* -'%%'+*% $/ &$%4$"%' ,$##*'9 "-4*%,*%'-+* -)* ',$-'# *
B*4':253%"*9 /'# &'/:A/ +$#$-B*5B$-+* *# /$#/*# &$/'# -'%%'+*% %$&*/' '5.2/' +'#
%$<5$@I$#+$*:"-#*-$'#+$#$-B*5B$-','%&$82$5C$4':$`*&$/'+*#.6/$*#9&)*4'%*'
*2%-"$%9 %$&*/'+* /'"# 2/' B$G '&%'BA# &'/:A/ +* +"#42%#* 3 '##"/ 2/ "-$.3B$5 P*.*
$#,"%'5'+*+*+"#42%#*9-*82'59$/.$%'59*'#,$4&*&$/3&"4*+'*:%'#$#*:%$,I$'*'#,$4&*
<"44"*-'5
'# -'%%'&"B'# ,0#1/*+$%-'# ' <%$8j$-&$ '5&$%-J-4"' $-&%$ ' ,%"/$"%' $ ' &$%4$"%'
,$##*'#4*/,5"4''"/,5'-&'()*+'#2:P$&"B"+'+$-'5"-.2'.$/9,*"#'"-#$%$$+$#$#&':"5"G'
'*/$#/*&$/,*M9=
=9,==WO+"<"425+'+$$/5*4'5"G'%',%*,%"$+'+$+*
+"#42%#*'##"-'5''<%'."5"+'+$+$2/'"-#&"&2"()*'&A$-&)*4*-#'.%'+'-'#-'%%'&"B'#%$'5"#&'#
W>
#99%$&- $&9-2$!&-$*$&$
$ ;& && '<2 '.M - $ ' - &$%$2Mi1!9= =9,?O
WX
* -'%%'+*% *-"#4"$-&$ ,52%'5"+'+$ +$ ,*-&*# +$ B"#&' ,$%/"&$ 82$ #$ 4%"$ 2/ +"35*.*
/$&'&$@&2'5"/,5;4"&*$$B"&'82$'C"#&0%"'#$P'4*-+2G"+','%'2/+$#<$4C*0:B"*
<-8%
C"#&0%"'4*-&'+'$/ !A%$,5$&'+$"-&$%B$-(I$#
82$ +"%$4"*-'/ * &$@&* ,'%' +$&$%/"-'+*# #$-&"+*# -'%%'+*% *-"#4"$-&$9 '5A/ +*# <'&*#9
+"#4*%%$ #*:%$ * #".-"<"4'+* +*# '4*-&$4"/$-&*#9 #*:%$ *# #$-&"/$-&*#9 '# '(I$# $ *#
,$-#'/$-&*#+$*:"-#*-9+"%$4"*-'-+***5C'%+*5$"&*%
$B*52()*+$*:"-#*-','%$4$+$&'5C'+'/$-&$+"'-&$+*5$"&*%-'%%'+*%"-<*%/'1
-*#$@'&'/$-&$$/82$ ,*-&*#$$-4*-&%''/$&'/*%<*#$+*C$%0"9'5$%&'-+* ,'%',*##;B$"#
+"<"425+'+$# $ P2#&"<"4'-+* 4'+' '()* $.2-+* i**,/'-1C2%5"-.# M=
=9 , ?X1??9
&%'+2()*-*##'O9%$.25'%/$-&$$5$"-&$%BA/-'-'%%'&"B','%',%"B'%*5$"&*%+$#$2,',$5+$
"-&A%,%$&$Z5&",5'##)*'#"-&$%B$-(I$#-'#82'"#$5$+3"-<*%/'(I$##2,5$/$-&'%$#WY
$-%$+*9 '# ,'##'.$-##"/:05"4'#9 '# %$<5$@I$# #)* #$/,%$ %$&*/'+'# ,$5* -'%%'+*%
82$ '# +*&' +$ 2/ #".-"<"4'+* 82'582$% 3 2/' ,%$*42,'()* $/ >
* ,*%826 +*#
'4*-&$4"/$-&*#*%$@$/,5*9'"/,*%&J-4"'+'$@,$%"6-4"'%$'5"G'+'+2%'-&$'<$"&2%'+*,)*
$'$@&$-#)*+$#$2'54'-4$-'$B*52()*+*C$%0"#)*+'+'#,$5*-'%%'+*%'-&$#/$#/*82$
82'582$%4*-452#)*','%&$#*:%$*$,"#0+"*,*##'<*%/'%1#$-'/$-&$+*5$"&*%
'##$$#&',%"/$"%','-"<"4'()*<'G"'1*%$&*%-'%9,*%&*+'#2'#".-"<"4'()*
/;#&"4' $ 2-"B$%#'59 E# <*-&$# +* C2/'-*9 $5' 4*/,*%&'B' &'/:A/ $/ #2'
'/:".2"+'+$ "/,5"4'(I$# &*&'5/$-&$ "-+"B"+2'"# E82$5'# $#4*-+"+'#9
;-&"/'#9<"-4'+'#$-&%$*##$.%$+*#B$%.*-C*#*#+$#2',%"/$"%'"-<J-4"'$
,%*/$&"+'# ,*% "##* /$#/* ' 2/ +$#':%*4C'% "/,%$B"#&* $/ #2' $#<$%'
#*5"&3%"'WNM9= X9,?9&%'+2()*-*##'O
WY
9%-D$ - $'$ - 9$ & &' - -$ T- ;$&D$2 -$&- $ -
$'$C-%$&&-9$Mi1!9= =9,?X1??O
WN
$$&D& $- $$*&$$% $.$!$'--*<
-;#* -- &$$ %\$9 &-$ $$ '-- --M-7 U
#9* $* & - $ #$< &$$ U $ & & -7 : 7 9&$&9'&#D-$2M9= X9,?O
W?
,%0,%"**:"-#*-B3%"'#B$G$#<'G'52#I$#E#2',%0,%"'$B*52()*9+$"@'-+*$B"+$-&$
82$C32/+"35*.*$-&%$*&$@&*$*#$25$"&*%#4"%42-#&J-4"'#$@&%'*%+"-3%"'#-'#82'"#$2
/$$-4*-&%*P2#&"<"4'/9$2,$-#*9/2"&'#/2+'-('#+$,*-&*+$B"#&'9,%"-4",'5/$-&$#*:%$'#
4*"#'#/*%'"#$%$5"."*#'#WWM9= X9,N9&%'+2()*-*##'O
'5 +"%$4"*-'/$-&* +' 5$"&2%' A 4*/2/ $/ -'%%'&"B'# ,0#1/*+$%-'#9 -'# 82'"# *
-'%%'+*% ,%$*42,'1#$ $/ +"'5*.'% 4*/ * 5$"&*% $ 4*/,'%&"5C'% '# /$#/'# +ZB"+'#9 $@,*%
$@,5"4"&'/$-&$#2'#*,"-"I$##<*%/'#-'%%'&"B'##)*"-&$-4"*-'"#$"+$*50."4'#94*/*$/
82'582$%&$@&*$#4%"&*9$'/'"*%,%$*42,'()*+'-'%%'&"B',0#1/*+$%-'A-)*4'/2<5'%$##$
'#,$4&* $ $@,*% 45'%'/$-&$ '*# 5$"&*%$# 82'5 "-&$-()* $ 82'5 "+$*5*."' <*" '+*&'+' $#4%"&2%'+$"4C$5*2%-"$%%$<5$&$'&$/3&"4'+*&$@&*$2/'A+$#4*-4$%&'-&$9'*2&%'-)*
*A/$-*#<*%/'+$#$2#%*/'-4$#A&%'+"4"*-'5',$-'#-'','%6-4"'WXMi1
!9=
=9, =9&%'+2()*-*##'O
&%'BA#+$#2'#"-&$%B$-(I$#9*'2&*%5$B'-&'82$#&I$##*:%$M*2&*%-',%*:5$/3&"4*#O
*#$-#*4*/2/$*K-'&2%'5LM9= =9,=>O4'%3&$%"+$*50."4*+'*:%'B'"
'5A/+$2/'4%;&"4''*,$-#'/$-&*$4*-V/"4*:2%.26#32/'+$#4$-&%'5"G'()*+*+"#42%#*
+$ 2/' &%'+"()* :%'-4' /'#425"-'9 '&%'BA# +' "%*-"' ,'%'+"./' +$ $@"#&6-4"' <$5"G A 2/
/$#&"(* +$ -$.%* 4*/ ;-+"* #$@* #2,$%"*% -)* A /'#425"-* *2 <$/"-"-*9 /'# '/:*#9 '
'-+%*."-"'
Y="-#$%()*+*+"#42%#*4"$-&;<"4*
' *:%' +$ "4C$5 *2%-"$% -)* #)* %'%'# '# ','%"(I$# +$ &$%/*# $ $@,5"4'(I$# +$
4'%3&$% 4"$-&;<"4* B*4':253%"*9 /2"&'# B$G$#9 "-2#2'5 -* 82*&"+"'-* ,'%$4$ #$% &*/'+* +$
$-4"45*,A+"'#
45'##"<"4'()*+$B3%"'#$#,A4"$#B$.$&'"#9'$@,*#"()*+$&$*%"'#<"5*#0<"4'#9'4"&'()*
+$&%$4C*#+'*:%'+$$-P'/"-%'-c5"-<'G$/,'%&$+'*:%''##"/4*/**#'4*-&$4"/$-&*#
<"44"*-'"# /'"# "-2#"&'+*# * 4',;&25* 9 %$<$%$-&$ E 4*-#&%2()* +* -'B"* `B'#"*-9 *
B*4':253%"*%$,5$&*+$&$%/*#/'%;&"/*#9+$4'%,"-&'%"'$+$/'%4$-'%"'9'5A/+'#%$<$%6-4"'#
WW
$<$C6$'6$ $*6&*#%$&$'*
$$-#-$-%2M9= X9,NO
WX
;9$#-" -D$-$#9$!$<$2-;$9$$*-;$-;$&
2 ;$ $$-- !; &&2 Mi1!9 = =9 ,
=O
W /"-24"*#'#+$$#,'(*9+"/$-#)*$&$/,*9 /$#45'/1#$E-'%%'()*+$*2&%*#'4*-&$4"/$-&*#9
+$/*+*'<"-4'%2/'$#&'4'-*2-"B$%#*+*%$'5$'*/$#/*&$/,**2&%'-*+*"/'."-3%"*$
<"44"*-'5
+"#42%#*4"$-&;<"4*+*&''-'%%'&"B'+$2/'':%'-.6-4"'82$+"<"425&''+$&$%/"-'()*
+' 4'&$.*%"' E 82'5 ' *:%' #$ $-82'+%'9 '* /$#/* &$/,* -'%%'&"B' <"44"*-'59 '5/'-'82$ $
$#,$5C*+'#"+$"'#+*'2&*%
+"#42%#* <"5*#0<"4*9 *2&%' /'%4' 4*/2/ E# ,$%#*-'.$-# +$ *2%-"$%9 '&%":2" E#
,$%#*-'.$-# ,'5'B%'# 82$ -)* ,'%$4$/ 5C$# ,$%&$-4$% # %$<5$@I$# 4*-&"+'# -* -%M)
<".2%'/-*&$@&*4*/'/"##)*+$&%'-#/"&"%'*5$"&*%4$%&*#,$-#'/$-&*#9#$/C'B$%,%"/'G"'
,$5'B$%*##"/"5C'-(')*C34*/*+"#4$%-"%45'%'/$-&$$-&%$-'%%'+*%$'2&*%9,%*4$+"/$-&*
:3#"4*-'#-'%%'&"B'#<"44"*-'"#-'%%'+*%+$*2%-"$%A'$@&$-#)*+$#2'#,%0,%"'#"+$"'#9
"-#&%2/$-&* ,'%' &%'-#/"##)* +$ #2'# &$*%"'# $ #$ /$#45'9 '* /$#/* &$/,*9 E ,%0,%"'
,$%#*-'.$/ 3 2/' "+$-&"<"4'()* "-$.3B$5 $-&%$ * '2&*% $ ' #2' ,$%#*-'.$/9 42P* 5'(*
,%"-4",'5A*-'%%'+*%*-"#4"$-&$
<-;%:A%#>
`"-$.3B$5*B'5*%$'82'5"+'+$5"&$%3%"'+'*:%'+$"4C$5*2%-"$%
!A*,%"/$"%*5"B%*+*'2&*%9<%2&*+$2/'5*-.'&%'P$&0%"'9&%':'5C'+*4*/
%"82$G' +$ +$&'5C$# 5$ A9 &'/:A/9 2/ ,'%'+*@* $/ %$5'()* ' 2/ +*# B'5*%$# /'"#
+$#&'4'+*#-'/*+$%-"+'+$4*/*,'%J/$&%*+$82'5"+'+$'%&;#&"4''*%"."-'5"+'+$
#&'4*-#&'&'()*-)*<'G+$"4C$5*2%-"$%2/,5'."3%"*)*C32/'"-&$-()*+$#$
-*/$'%'2&*%+'-'%%'&"B'+$
$<*$9C32/'"-&$-()*+$%$',%*,%"'()*:'#&'-&$$@,5;4"&'
-*/$+$,$%#*-'.$-#9'%$&*/'+'82'#$5"&$%'5+$'5.2/'#,'##'.$-#$9'&A+$&$%/"-'+''5&2%'
+' -'%%'&"B'9 * /$#/* <"* 4*-+2&*% +* $-%$+* ,'"%'-+* #*:%$ ' &%'P$&0%"' +* C$%0" +$"@'/
45'%''%$<$%6-4"'E*:%'+$
'-"$5
$<*$
"-&$%&$@&2'5"+'+$ $@,5;4"&' $B"+$-4"' * *:P$&"B* +$ %$$#4%$B$% ' C"#&0%"' +$ '-"$5
$<*$9 +$ '+$82315' '* ,$-#'/$-&* +$ "4C$5 *2%-"$%9 +$ &*%-315' /'"# ,%*<2-+' $
#".-"<"4'&"B','%''#*4"$+'+$4*-&$/,*%J-$'"/,'4&*4'2#'+*,*%2/'*:%'+$##$&",*A
.%'-+"*#*,%0,%"*5$"&*%P3&$/#2'#%$<$%6-4"'#$"/,%$##I$##*:%$'-'%%'&"B'+'B"+'+*
-32<%'.**:"-#*-%2#*$
2%'-&$'5$"&2%'9C34*-&$#&'()*$+$#4*-#&%2()*+'#4$%&$G'#+'
,$%#*-'.$/ $ +* ,%0,%"* 5$"&*% /' -'%%'&"B' +$##$ &",*9 -)* ',$-'# "-'2.2%' 2/' -*B'
X
4*-4$,()*+$2/&$/'9/'#<'G82$#&"*-'%'4*/,%$$-#)*&"+'+*&$@&**%"."-'5*/'%4*/*
%$<$%$-4"'5 2/ &$@&* 4J-*-$ +' 5"&$%'&2%' A 2/' <*%/' +$ '&%'"% /'"# * 5$"&*% $9 2/ 5$"&*%
$#,$4;<"4*82$5$82$4*-C$4$',%"/$"%'C"#&0%"'9*&$@&**%"."-'59,%*B'B$5/$-&$#$-&"%1#$13
/'"#'&%';+*,$5*#$2"-&$%&$@&*$&$%3/'"#&*4'+''#2',$%4$,()*/'"#*2/$-*#4%"#&'5"G'+'
+'%$'5"+'+$+$#4%"&'
*:%$'%$5'()*$-&%$*&$@&*,%$42%#*%$*&$@&*+$*2%-"$%9"4C$5H*%&*-M=
=9,
?9 .%"<* +* '2&*%9 &%'+2()* -*##'O '<"%/' 82$ %$##'5&'-+* ' +$,$-+6-4"' $ /$#/* '
4*-&$#&'()*9$5'&*/'#*:%$&2+*'<*%/'+$2/H
%=%82$#2#4"&'-*5$"&*%2/'$#,$425'()*
4%"'+*%'982$4*-+2GE%$"-&$%,%$&'()*+'C"#&0%"'425&2%'5$'*%$4*-C$4"/$-&*82$'$&"*5*."'
AM',$-'#O2/P*.*"-&$%&$@&2'5W?
*#"4"*-'% * %$<$%$-4"'5 -* ,'##'+* A9 #$.2-+* 2&4C$*- M=
=O /'"# 2/' +'#
,%"-4",'"# 4'%'4&$%;#&"4'# +* &",* +$ $#4%"&2%' ' 82$ -*/$"' ,0#1/*+$%-' ` 2/ *5C'% 82$
%$&*/'2/,*-&*%$/*&*+'C"#&0%"'9'<"/+$2/'%$'B'5"'()*4%;&"4'
#%*/'-4$#'+$,&*#+$##',$%#,$4&"B'#)*+$-*/"-'+*#/$&'<"4()*C"#&*%"*.%3<"4'
*/$##$&$%/*9%$<"%*1/$E82$5$#%*/'-4$#<'/*#*#$,*,25'%$#82$9'*/$#/*&$/,*9#)*
"-&$-#'/$-&$'2&*1%$<5$@"B*#$/$#/*'##"/9+$/'-$"%','%'+*@'59&'/:A/#$',%*,%"'/+$
'4*-&$4"/$-&*# $ ,$%#*-'.$-# C"#&0%"4*# M9 =
=9 , O9 4*/* A * 4'#* +*
%*/'-4$ +$ *2%-"$%9 -* 82'5 ' C"#&0%"' +$ *:"-#*- %2#*$ A "-4*%,*%'+' $ +$#'<"'+'9
%$4*-&'+' +$ /*+* +"<$%$-&$ %$<$%$-4"'5 A "-$B"&'B$5/$-&$ *2&%' -'%%'&"B' M*2 +"#42%#*O9
+';#$2-*/$+$/$&'<"4()*##$&",*+$-'%%'&"B'-)*-$.'-$/'<"%/'-$4$##'%"'/$-&$#$2
%$<$%$-&$9 /'# ,%*:5$/'&"G'1* M9 =
=O 5$ -*# 4*-+2G ' ,$-#'% #*:%$ *#
'4*-&$4"/$-&*#+$#4%"&*#
C"#&0%"'+$*:"-#*-%2#*$&$/52.'%+$+$#&'82$-'-'%%'&"B'9A*#$24'%%*14C$<$9
$9'*/$#/*&$/,*9#*<%$'&'82$4*-#&'-&$$&*/'%2/'C"#&0%"'4*-#'.%'+'+$*2&%*,*-&*
+$ B"#&' A * %$<5$@* +$ -*B'# ':*%+'.$-# +$ &$/'# '-&$# -$.5".$-4"'+*#9 4*/* * ,',$5 +*
"-+;.$-' -' C"#&0%"' +' 4*5*-"G'()* ,$%#*-'.$/ $-+%$+" $B"+$-4"' * #$% C2/'-*
$@"#&$-&$ -* "-+;.$-' $ * B'5*% +$ #2'# &%'+"(I$# 5$ -)* A 2/ $5$/$-&* "-&$%<$%$-&$ +'
C"#&0%"' +' 4"B"5"G'()*9 $5$ A &'/:A/ 2/ ,$%#*-'.$/ +$5' <'&* +$ -)* 4*/,*% * %*5 +*#
C*/$-#4"B"5"G'+*#-)**$@452"+'C"#&0%"'9/'#9#"/9+$/*-#&%'82$C*2B$*2&%',$%#,$4&"B'9
*2&%*#,*-&*#9*2&%'#C"#&0%"'#82$4*/,2#$%'/'%$'5"+'+$
W?
-'$-9&$:-$$$*--&$$- ;!$
#F - -$ &-$ 9$* -!-- $ 7 9$&9$ -;#$ -$-- $ 7 P$
!-;9$-%Q;R$Q!;R6$$<$-2MH9= =9,?9.%"<*+*'2&*%O
X=
5A/ +' *:%' +$ $<*$9 C3 /2"&*# *2&%*# "-&$%&$@&*# $ %$<$%$-4"'"# 4*/,*-$-&$# -'
$#&%2&2%'+$ !`*4'#*+'%$&*/'+'#2:B$%#"B'+*.6-$%*
-%
.6-$%*+"G%$#,$"&*9:'#"4'/$-&$9'*:%'#$/42P*4$-&%*$#&$P''C"#&0%"'+$B"+'+$
2/ ,%*&'.*-"#&' P*B$/9 C"#&0%"' $##' 82$ 4*-+2G9 ,*% /$"* +$ 2/' #24$##)* +$ $-.'-*# $
+$4$,(I$#9'2/$82"5;:%"*4*/*/2-+*M99,WO+$<"-"()*',5"4'1#$9,*"#9
&'/:A/ E *:%' +$ "4C$5 *2%-"$% -&%$&'-&*9 * 4'%3&$% #2:B$%#"B* A :'#&'-&$ '4$-&2'+*
$.2-+* %5$&&$ *25*2/"A M=
=O9 *# %*/'-4$# +$ "4C$5 *2%-"$% 4*-&'/ 2/'
/$&'/*%<*#$+$#4%"&'&'-&*4*/*2/'4*-B$%#)*94*/*2/',$%B$%#)*
)*C34*/*-$.'%','##'.$/+$*:"-#*-,*%$&','#+$<*%/'()*$#&3."*<"-'5
'54'-('+* A :'#&'-&$ #2,$%"*% E82$5$ $/ 82$ #$ $-4*-&%'B' -* "-;4"* +' -'%%'&"B' *%A/9
$-82'-&* * %*/'-4$ +$ <*%/'()* $/ #2' .6-$#$ $%' 2/' <*%/' 4*%%$#,*-+$-&$ +* $#,;%"&*
:2%.26#9 * %*/'-4$ +$ *2%-"$% A 2/' -'%%'&"B' "-#$%"+' -' /*+$%-"+'+$ / ,$%;*+* $/
82$ *# B'5*%$# :2%.2$#$# +$ ,%*.%$##*9 4"6-4"' $ +"-C$"%* 4*/* &%",A <2-+'/$-&'5 +'
#*4"$+'+$$#&)*-*#$2'2.$9/'#9,*%*2&%*5'+*92/,$%;*+*82$-$.''#",%0,%"*$$@,%"/$
B3%"'# <*%/'# +$ 4*-&$#&'()* +$##' *%.'-"G'()* *-&$#&'()* ,%$#$-&$ ,%"-4",'5/$-&$ -'#
<*%/'#'%&;#&"4'#*"#9*82$A'5"&$%'&2%'#$-)*'$@,%$##)*+*$#&'+*+$$#,;%"&*B".$-&$
-#$%"+* -$##$ $#,;%"&* /*+$%-*9 *2%-"$% 4*-+2G ' <*%/'()* +$ #2' ,$%#*-'.$/ -*
#$-&"+* +$ -$.'()* $ 4*-&$#&'()* E :2%.2$#"' $ #$2 &%",A <2-+'/$-&'5 *:"-#*- %$,%*+2G
&*+*# *# B'5*%$# :2%.2$#$# +$ #2' #*4"$+'+$ -' ,%"/$"%' $&',' +$ #2' ,$%/'-6-4"' -' "5C'9
/'# "##* #0 #$%B$ ,'%' /*#&%'% B'5*%$# ,%$4*-4$"&2*#*# $ %'GI$# "%%'4"*-'"# +* C*/$/
:2%.26#
,%0,%"' /$-&'5"+'+$ $#4%'B*4%'&' +$ *:"-#*- '4':' ,*% #$% #2,5'-&'+' ,*% 2/
#$-&"/$-&**,*#&**:"-#*-4*-#"+$%'B'$-+%$+""-<$%"*%'$5$$&$%/"-',*%4*-#"+$%315*9
-' B$%+'+$9 :'#&'-&$ #2,$%"*%9 ,*"# #$ &*%-' * /$-&*% +$ *:"-#*- -* #$2 ,%*4$##* +$
<*%/'()*
%'982'-+*#$,$-#'-','5'B%'/$-&*%9B$/E/$-&$'"/'.$/+$'5.2A//'"#B$5C*
82$*#$2',%$-+"G5.2A/#$-#'&*9,%2+$-&$9#A%"*92/'<".2%'%$'5/$-&$%$#,$"&3B$594*/*
#$',%$#$-&'-'/'"*%,'%&$+*#5"B%*#'#9-'*:%'+$*2%-"$%9#$.2-+**,$-#'/$-&*+'
A,*4'9 $-+%$+" $%' /2"&* "-<$%"*% ' *:"-#*-9 4*/* * ,%0,%"* -32<%'.* +$"@' $-&$-+$%
$2# /$ $-B"*2 2/ 4*/,'-C$"%* '#9 ,*% 2/ +$#;.-"* :'#&'-&$ *:#42%* +$ #2' '-&'
X
*-&'+$9$5$$#4*5C$21*-*/'"#:'"@*.%'2+'$#4'5'C2/'-'W M9= W 9,=YW9
&%'+2()*-*##'O
39 '5A/ +"##*9 2/' <2-()* "/,5;4"&' -' <*%/'()* +* P*B$/ :2%.26# 5$ +$B$
+$#$-B*5B$%1#$"-+"B"+2'5/$-&$*4*/,5$&'%#2'&%'P$&0%"'+$B$$#&'%,%*-&*,'%'4*-B"B$%
-*/$"*#*4"'59-)*#04*/*'5.2A/4*/%"4'#$@,$%"6-4"'#$+$4'%3&$%;-&$.%*9/'#&'/:A/9
4*/* '5.2A/ ,*%&'+*% +$ :$-$<;4"*# E #2' #*4"$+'+$ *%A/9 *:"-#*- ,$%/'-$4$ -' "5C'
"#*5'-+*1#$+*4*-B;B"*#*4"'5
4'/"-C* +* #24$##* $#4*5C"+* ,*% *2%-"$% ,'%' #2'# *:%'# ,'%$4$ :'#$'%1#$ -2/
"+$'5+$#2:B$%#)*+$#$2#,%$+$4$##*%$#$-)*+$"/"&'()*"-&$%&$@&2'5"+'+$$'%$<$%6-4"'
#)* $-4*-&%'+'# '"-+' $@,5"4"&'/$-&$ -' %$&*/'+' +$ '5.2-# &%$4C*# +' *:%' +$ $-P'/"-
%'-c5"-$+$+"B$%#*#&$@&*#*%A/9*+"%$4"*-'/$-&*+'5$"&2%'+$#&$#&$@&*#+$-&%*+'*:%'
+$*2%-"$%$-4'/"-C'1#$,'%'2/'4*-&$#&'()*+$#2'#'<"%/'(I$#
W
;'.9&%2*&$F$-$9*--;#&-
%9-;9#--#M9= W 9,=YWO
X>
B)$')$
! $#&3 %$,5$&* +$ "/'.$-# $ #;/:*5*# /;&"4*#9
,%"-4",'5/$-&$'82$5$#82$<'G$/%$<$%6-4"''*#%"&*#+$"-"4"'()*-'#'-&".'##*4"$+'+$#
%$4*%%6-4"'''%82A&",*#2-"B$%#'"#&*%-''-'%%'&"B'+$*2%-"$%4','G+$$#,$5C'%-)*',$-'#
*%$&%'&*+$2/'+$&$%/"-'+'#*4"$+'+$*2#"&2'()*94*/*&'/:A/+$<'G$%%$<5$&"%2/'#A%"$
+$,%*:5$/'#'<5"&"B*#'&*+**/2-+*$/82'582$%&$/,*$/'#4*/*'#*5"+)*9'%$5'()*
+*C*/$/4*/**2&%*$4*/'-'&2%$G'9*+$#$-B*5B"/$-&*,$##*'59'B"+'$'/*%&$$*#$2
#$-&"+*$#&)*$-&%$5'('+*#-'4*/,*#"()*+*5"B%*
:2#4' +' ,$%#*-'.$/ +"%".$1#$ %2/* E #2,$%'()* +' 4*-+"()* C2/'-'9 5".'-+* '
-'%%'&"B'+$*2%-"$%'*#/"&*#+$C$%0"#$/:2#4'+'"/*%&'5"+'+$#,%*4$##*#+$/*%&$$
%$-'#4"/$-&*#"/:05"4*#'&%'B$##'+*#,*%%2#*$$82",'%'/#2'&%'P$&0%"'E+$2/+$2#942P'
$##6-4"'+"B"-'#$"+$-&"<"4'4*/*#,%*4$##*#4;45"4*#+'-'&2%$G'
<%$82$-&$ *4*%%6-4"' +$ #;/:*5*# $ '5$.*%"'# $/ !4'2#''"/,%$##)*+'$@"#&6-4"'+$2/#$-&"+**425&*,'%'+$#B$-+'%'4'+'5"-C'
2-.M= XX9,O$#45'%$4$82$2/','5'B%'*22/'"/'.$/A#"/:05"4'82'-+*"/,5"4'
'5.2/' 4*"#' '5A/ +* #$2 #".-"<"4'+* /'-"<$#&* $ "/$+"'&* ' '-35"#$ +*# #;/:*5*# A
,%$4"#*$#&'%,%$,'%'+*'$@,5*%'%"+$"'#$/2/-;B$5'82A/+'%'4"*-'5"+'+$
"-#"#&6-4"' +*# #;/:*5*# -' 5"&$%'&2%' ,0#1/*+$%-' A 2/' /'-$"%' +$ &$-&'%
%$42,$%'%'4','4"+'+$C2/'-'+$':#*%B$%#$-#'(I$#$+*&315'#+$2/'#".-"<"4'()*,'%''
%$'5"+'+$ 4*-4%$&'9 #$P' 2/ #$-&"/$-&*9 2/' "-&2"()* *2 * $-%"82$4"/$-&* "-&$%"*% /
4*-&'&* +"%$&* 4*/ ' -'&2%$G' $ B"B$-4"'-+* $@,$%"6-4"'# ,%*<2-+'/$-&$ #"/:05"4'#9
*:"-#*-$B*52"#$2$#,;%"&*#*52()*$-4*-&%'+','%'C'%/*-"G'%#$2/2-+*"-&$%"*%$*
#$2$#,'(*A"#*5'%1#$4*/,5$&'/$-&$+'#*4"$+'+$/*+$%-'$+$&*+*&",*+$4"B"5"G'()**2
%'4"*-'5"G'()* D /$+"+' 82$ '2/$-&' * 4*-C$4"/$-&* 4"$-&;<"4* +"/"-2" * .%'2 +$
C2/'-"G'()* +* -*##* /2-+* ]^_ 4':*21#$ * 4*-&'&* 4*/ ' -'&2%$G'9 $ 4*/ $5$ <*"1#$
&'/:A/',%*<2-+'$-$%."'$/*4"*-'582$$#&'4*-$@)*'5"/$-&'B'M!9= XX9, NO
5$B'-&'/$-&*+*#,%"-4",'"#'#,$4&*#+$'5.2-##;/:*5*#%$4*%%$-&$#-'*:%'$#&)*
$@,*#&*#'#$.2"%$<*%'/&*/'+*#9$/#2'/'"*%,'%&$9+'#*:%'#+*C"#&*%"'+*%+$%$5"."I$#
"%4$'5"'+$$+*'-&%*,05*.*$,$-#'+*%<%'-46#!"5:$%&
2%'-+
XY
B-5(%
C*/$/ 4*-&$/,*%J-$* B"B$ $/ 2/ /2-+* +$#,%*B"+* +$ $#,"%"&2'5"+'+$9
4*/,$&"&"B*9 *-+$ * /'"*% B'5*% A /'&$%"'5 ##* .$%' 2/' 4%"#$ -' $##6-4"' C2/'-'9 ,*"#9
+$#+$ *# /'"# '-&".*# &$/,*#9 * C*/$/ 4*-B"B$2 4*/ 4%$-('# $#,"%"&2'"# $ /;&"4'# 82$
+'B'/#$-&"+*E#2'$@"#&6-4"'
$B*52()* +' 4"6-4"'9 +' &$4-*5*."' $ +* %'4"*-'5"#/*9 ' ,'%&"% +* 52/"-"#/*9 <*"
+$%%2:'-+*.%'+'&"B'/$-&$#2,$%#&"(I$#$4%$-('#$#2:#&"&2"-+*1'#,*%$@,5"4'(I$#50."4'#$
$,"#&$/*5*."'#'#9'"-+'82$*C*/$//*+$%-*'4%$+"&$-'#%$B$5'(I$#+'4"6-4"'9$/#$2
#2:4*-#4"$-&$,$%#"#&$2/'5".'()*/;#&"4'4*/'-&".*##;/:*5*#52'9,*%$@$/,5*9/$#/*
&$-+* #"+* $@,5*%'+' $ '-'5"#'+' 4"$-&"<"4'/$-&$9 "-4"&' -' /$-&$ C2/'-' #2' '&/*#<$%' +$
/"#&A%"* $ #$+2()* $ A9 '"-+' C*P$9 4'-&'+' ,$5*# ,*$&'#9 4*/* $-&"+'+$ +*&'+' +$ ,*+$%$#
$#4*-+"+*#
$@"#&6-4"' +$ $2# &'/:A/ A ,*24* ' ,*24* -$.5".$-4"'+' ,$5' #*4"$+'+$
4*-&$/,*%J-$'2'-&*'$##$,*-&*9,*%A/9C32/'4*-&%*BA%#"'*C*/$/-)*,V+$'"-+'
$@,5"4'%'*%".$/+$&*+'#'#4*"#'#4*#&2/'+*''&%":2"%'2&*%"''82'582$%4%"'()*9*#$%
C2/'-* -)* 4*-#$.2"2+$&$%/"-'%4*/* #2%."2 ' $@"#&6-4"'9 ',$#'% +$ &*+*# *# 'B'-(*# +'
4"6-4"')*$@"#&$C*P$2/'$@,5"4'()*+"<2-+"+','%'#2:#&"&2"%'4%$-('+*+$2#14%"'+*%$
#'4"'%'-$4$##"+'+$C2/'-'+$4*-C$4$%'*%".$/+*2-"B$%#*#*4"$+'+$4*-&$/,*%J-$'
B"B$ 2/' 4%"#$ .$%'+' ,*% $##$ ,'%'+*@* C*/$/ /*+$%-* $ %'4"*-'5 -)* '4$"&' '
$@"#&6-4"' +$ $2# ,$5' <'5&' +$ 4*/,%*B'()* 4"$-&;<"4' $9 '* /$#/* &$/,*9 $5$ -)* #$
4*-<*%/'+$#2'"-4','4"+'+$+$+$#B$-+'%',%0,%"'$##6-4"'
4%"#$'&"%'*C*/$/$/+"%$()*'2/%$&*%-*'* ,'##'+*9E##*4"$+'+$#-'#82'"#
-)* C'B"' 82$#&"*-'/$-&* #*:%$ ' $@"#&6-4"' +$ $2#9 $ * C*/$/ -)* -$4$##"&'B' $@,5"4'%
&2+* ,'%' B"B$% C'%/*-"*#'/$-&$ /2-+* /*+$%-* $/ 4%"#$ +$#+$ #2' %2,&2%' +*
"-4*-#4"$-&$4*/*4%"#&"'-"#/*$#&3$/:2#4'+$2/-*B*/"&*9*Z-"4*82$5C$,$%/"&"%3
%$$-4*-&%'% 2/' -*B' <*-&$ $#,"%"&2'5 $ 5C$ +$B*5B$%3 '# <*%('# 4%"'+*%'#X M! ',2+
9 = NX9 , >9 &%'+2()* -*##'O 39 '&2'5/$-&$9 ,*% "##*9 2/' #2,$%B'5*%"G'()* +*
,%"/"&"B*$.2-+**25*2/"AM= ??9,X9&%'+2()*-*##'O9'425&2%'/*+$%-'9'4%$+"&'-+*1
#$ +$#.'#&'+'9 :2#4' 2/' <*-&$ +$ $-$%."' -* ,%"/"&"B* $ -*# /"&*# <2-+'/$-&'"# +*
X
U&&$& '-#$U$!:$;
' .$#* ! - - &$$ $' '-- &$-- $ - - 9$2M!',2+
9= NX9,>O
XN
,'##'+*X=-'&2%$G'C2/'-'&$/'-$4$##"+'+$+$%$4*-82"#&'%'-&".*#B'5*%$#9+$B*5&'%'
%$+$#4*:%"%4*"#'#82$P3-)*<'G$/,'%&$+$#2'%$'5"+'+$
';'%$4*%%6-4"''*/"&*9/$"*
/'"# 4*/2/ +$ <2-+'/$-&'% $ P2#&"<"4'% 4*/,*%&'/$-&*# $ '&"B"+'+$# C2/'-'# -'#
#*4"$+'+$#,%"/"&"B'#
/ !$#&':2#4'%$<5$&$1#$-'<".2%'+*"-+;.$-'
$-+%$+"&%'BA#+$#2'"-<526-4"'9*:"-#*-$-&%'$/4*-&'&*4*/2/'%$'5"+'+$+*&'+'+$
#"/,5"4"+'+$ 5"B%$ +'# '-.Z#&"'# +*# &$/,*# /*+$%-*# #*4"$+'+$ /*+$%-'9 ,'%J/$&%* +$
+$#$-B*5B"/$-&* C2/'-* :$/1#24$+"+* ,'%' /2"&*#9 A B"#&' -* %*/'-4$ +$ *2%-"$% 4*/*
%$&%0.%'+'$ $82"B*4'+'9 $-82'-&** ,%"/"&"B* $ * -'&2%'5#)* ',%$#$-&'+*# 4*/* ;4*-$# +$
2/'$@"#&6-4"',$%<$"&'
'%'/2"&*#/*+$%-"#&'#+*#'-*#W9*C*/$/$#&'B'"%%$/$+"'B$5/$-&$"/$%#*$/
2/2-"B$%#*<%$-A&"4*$+$B"''+$82'%1#$'$##'%$'5"+'+$+'/$5C*%/'-$"%',*##;B$5$2
"+$'5 $%' 4'+' 2/ ':%"%1#$ E "/$-#' B'%"$+'+$ $ %"82$G' +$ 4*"#'#9 /'&$%"'"# $ "+$'"#9 82$ *
/2-+* /*+$%-* "-$#.*&'B$5/$-&$ *<$%$4$ M9 = ?W9 , >=O -'&2%$G' ,$%+"'9
-$##$4*-&$@&*9&*+*#$2,*+$%/3."4*9%$+2G"+'E/$%'<*-&$+$$@,5*%'()*+$%$42%#*#$2#
$5$/$-&*# +$#,%*B"'/1#$ +$ #".-"<"4'+*# /;#&"4*# $ &%'-#<*%/'+*%$# $-C2/ %"* ':%".'
/'"#2/$#,;%"&*9-$-C2/'3%B*%$A*,%"-4;,"*+$B"+'+*C*/$/M!9= XX9, NO
"-&$%$##$'&2'5+*C*/$//*+$%-*,$5*,%"/"&"B*$@,%$##'2/'<*%('"-*B'+*%'82$
%$B*524"*-'$/%$5'()*'&'"#"+$"'#
##' %$42,$%'()* +' /$/0%"'9 ',0# ' '/-A#"' <*%('+' +$ /$"* #A425*9 #$
/'-"<$#&'-*#4*#&2/$#9-'"-+2/$-&3%"']^_9-'+"<2#)*$//'##'+$2/
"-&$%$##$,$5'C"#&0%"'$,*%#$2#,%*+2&*#9-'-$4$##"+'+$4'+'B$G/'"*%+$
&$% $@,$%"6-4"'# 4*-&$/,5'&"B'# $ 4*-&'&* 4*/ ' -'&2%$G'9 -$4$##"+'+$ 82$
,'%$4"'2/''-&;&$#$,'%''4"B"5"G'()*+'#/382"-'#M!',2+
9= =9,W>O
/*+* 4*/* * C*/$/ +'# #*4"$+'+$# '%4'"4'# $-4'%' ' &$/,*%'5"+'+$ A 2/ +*#
<'&*%$# +$ /'"*% 4*-&%'#&$ 4*/ * ,$-#'/$-&* /*+$%-* -82'-&* * C*/$/ /*+$%-* #$
:'#$"'-'"#&0%"','%'$-@$%.'%<'&*#4*/*%$'5"+'+$9*,%"/"&"B*'4%$+"&'-2/','##'.$/+*
&$/,*4;45"4'B"+'C2/'-'A4*-#"+$%'+'4*/*%$,$&"()*+$'4*-&$4"/$-&*#,%"/*%+"'"#9
%$'5"G'+*#"-"4"'5/$-&$,$5*#+$2#$#$.2-+*5"'+$M= ? O9'/'-2&$-()*+'$@"#&6-4"'9-'
X=
-$ * .$ 9&9* ## ;9% - &$'$9 $ - .$#
$<&92M`9= ??9,XO
XW
4*-4$,()* ,%"/"&"B'9 <"%/'1#$ -' %$'5"G'()* +$ %"&2'"# 82$ %$,%$#$-&'/ $9 '4"/' +$ &2+*9
%$#&':$5$4$/'C'%/*-"'+*4*/$(*+*#&$/,*#$-C2/<'&*A9,*%&'-&*9"%%$B$%#;B$59,'%'*
C*/$/,%"/"&"B*9#$-)*<*%'%$,$&"()*+$2/'&*%$'5"G'+*&,$5*#+$2#$#
*2%-"$% ,*+$9 '##"/9 <"%/'+* $/ 2/' 4*-4$,()* ,%"/"&"B"#&'9 &*/'% ' C"#&0%"' +$
*:"-#*- %2#*$ $ %$,$&"15' '5&$%'-+* #$2 +$#<$4C*9 +*&'-+* ' -'%%'&"B' +$ 2/ B'5*%
#"/:05"4*82$5C$.'%'-&'',$%$-"+'+$9'&%'BA#+'%$,%$#$-&'()*+$'&*#,%"/*%+"'"#
*,"'-+* * 4*/,*%&'/$-&* $ '+$82'-+*1#$ '* ,$-#'/$-&* #$5B'.$/9 /$#/* *
C*/$//*+$%-*,*+$':*5"%*&$/,*$#$"-#&'5'%-'$&$%-"+'+$)*A,%$4"#*#$#2:/$&$%E#
%$#&%"(I$#+'#*4"$+'+$9E50."4'"/,*#"&"B'$+$#".2'5+*/$%4'+**2E/*%'5"+'+$:2%.2$#'
2'-+*#$A#$5B'.$/9'$@"#&6-4"'5".'1#$'2/Z-"4*"/,$%'&"B*'-'&2%$G'
B-8&.%
%A%
$#/*82$#2:5"/"-'%/$-&$9*C*/$/',$.'1#$'#;/:*5*#82$5C$&%'G$/4*-<*%&*
##"/ '4*-&$4$ 4*/ *# #;/:*5*# +$ '#4$-#)* C*/$/ %$5'4"*-' * '5&* 4*/ * +"B"-*9 *
#2,$%"*%*4'#*+$*:"-#*-9"-#$%"+*$/2/,%*4$##*$B*52&"B*9*##;/:*5*#'#4$-#"*-'"#
#)*2/'4*-#&'-&$)*A,*%'4'#*82$94*/*#$+$#&'4*2'*&%'&'%#*:%$*$#,'(*9*:"-#*-
#'" +$ 2/' 5".'()* &$5Z%"4' ,'%' 2/' 5".'()* 'A%$' ##' &%'-#"()* "-+"4' -)* ',$-'# '
/2+'-(' +$ 2/' *%+$/ ,'%' ' *2&%'9 /'# "+$-&"<"4' ' /$&'/*%<*#$ 4*/ 2/ ,%*4$##* +$
'#4$-#)*9*2#$P'9:$-A<"4*
#"/:*5"#/*+''#4$-#)*#".-"<"4'#$/,%$*%*/,"/$-&*+$2/'#"&2'()*
,$&%"<"4'+'9*:#&%2;+'9'%2,&2%'+$-;B$582$&*%-',*##;B$5','##'.$/
,'%' 2/ *2&%* /*+* +$ #$%F -* <"/ +'# 4*-&'#9 ' 5":$%+'+$ +$ #$
/*B"/$-&'%9 *2 #$P'9 +$ /2+'% +$ #"&2'()*9 +$ ':*5"% 2/ #"#&$/' +$
4*-+"4"*-'/$-&*#XM
9= NX9,=Y 9&%'+2()*-*##'O
3%B*%$92/#;/:*5*:'#&'-&$,*5"B'5$-&$9$#&3'##*4"'+''B'5*%$#'#4$-#"*-'"#*+'
3%B*%$A2//"4%*4*#/*5'<'G,'%&$+*##;/:*5*#+'4'&$.*%"'B$.$&'59%$,%$#$-&'-&$#+$
X
.--;% $6-;9-$$;$$G&$ 9;*G#9;*-&$
'!&--&%'$;:$0 &$--$9G';*
;$M7M#%$$*;-.$D$$2M
9= NX9,=Y O
XX
2-"B$%#*# 4;45"4*#9 /'# '+82"%$ &'/:A/ *2&%' #".-"<"4'()* +$B"+* E #2' B$%&"4'5"+'+$
'4"5/$-&$'"/'.$/+'3%B*%$&%'-#/2&'1#$+*4"45*,'%'''#4$-#)*,%*.%$##"B'5'A2/'
$#,A4"$ +$ $5* $-&%$ * '5&* $ * :'"@* * /$#/* &$/,* &$/ #2'# %';G$# <"-4'+'# -' &$%%' $
5'-('#$2#%'/*#$/+"%$()*'*4A2"-+"4'-+**'5&*'+$#4%"()*+*&$/,*,%"/*%+"'59A2
$$%%'$#&'B'/&)*,%0@"/*#982$$%',*##;B$5'4$+$%'*,%"/$"%*9#"/,5$#/$-&$#2:"-+*-*
'5&*+$2/'3%B*%$M
9= NXO
2&%'<*%/'+$'54'-('%*#4A2#A'&%'BA#+*B**#%$,%$#$-&'(I$#+$B**#)*$/
.$%'5:$-A<"4'#'&%'()*82$$5$$@$%4$-*"/'."-3%"*+*C*/$/%$<5$&$1#$-'#&$4-*5*."'#
+$#$-B*5B"+'#94*/**:'5)*$*'B")*9$/*:P$&*#5Z+"4*#94*/**#,','.'"*#+$,',$59*2
-'# ,%0,%"'# 4*-*&'(I$# 82$ * B** $@$%4$ -* "/'."-3%"* /*+$%-* B** A9 $/ .$%'59
%$5'4"*-'+* E 5":$%+'+$9 E "/'."-'()*9 E '5$.%"'9 '* +$#$-B*5B"/$-&* "-&$5$4&2'5 KBV*
&%'+2G ' "-&$5".6-4"'9 ' 4*/,%$$-#)* +'# 4*"#'# #$4%$&'# *2 +'# B$%+'+$# /$&'<;#"4'#X>
M
9= NX9,=>Y9&%'+2()*-*##'O
5":$%&'()* $-.$-+%'+' ,$5* #"/:*5"#/* +* B** -)* +"G %$#,$"&* ',$-'# '
4*-#&%'-."/$-&*##*4"'"#9/*%'"#9$&49/'#&'/:A/2/'5":$%&'()*+'4*-+"()*C2/'-'92/'
5":$%&'()*$/%2/*E&%'-#4$-+6-4"'9,$5'#2,$%'()*+'#5"/"&'(I$#<;#"4'###'#".-"<"4'()*
$@,5"4"&'+',$5*B**A4*-#&'-&$$/&*+*#*#-;B$"#+$425&2%'M
9= NXO
&%'-#4$-+6-4"'$#&35".'+'$/&*+*/2-+*'*#"/:*5"#/*4$5$#&$4A2#2:$-&$-+$
#'4%'5"+'+$+'&%'-#4$-+6-4"'#<".2%'#+"B"-'#$#&)*%$5'4"*-'+'#$/.$%'5E"/'.$/+*
4A25$,*+$#$%'/*%'+'9'*%".$/*2*+$#&"-*+*#+$2#$#9+$,*"#+$2/'$,"<'-"'
* 4*-&%3%"*9 /2"&*# #;/:*5*# 5".'+*# '* :'"@* &6/ 2/' 4*-*&'()* -$.'&"B' "/'.$/+'82$+'%$5'4"*-'1#$E"/,*&6-4"'+*C*/$/+"'-&$+*&$/,*9'"-$B"&':"5"+'+$+$
#2' '()* 2%'-&$ 2/' #2:"+'9 ' B$%&".$/ A ' "/'.$/ "-":"+*%' +$ &*+' ' '#4$-#)*9 2/
:5*82$'/$-&* ,#;82"4* $ /*%'5 82$ #$ &%'+2G ,*% <$-V/$-*# ,#"4*<"#"*50."4*# B"*5$-&*# B$%&".$/A2/%$5$/:%'%:%2&'5+'-*##'C2/'-'$,%$#$-&$4*-+"()*&$%%$#&%$M
9
=
X9,===1==>O
B$5*4"+'+$$*"/,'4&*+'82$+',*&$-4"'5"G'/#2'4*-*&'()*-$.'&"B'+'/$#/'
<*%/'82$*##;/:*5*#'#4$-#"*-'"#&6/#$2B'5*%,*#"&"B*'2/$-&'+*4*-<*%/$'"-&$-#"+'+$
+* "/,25#* '%' 2%'-+ M=
X9 ,=>NO9 ' <5$4C' 42P'/'-",25'()* "/,5"4' ' ,*-&'%"' #$%"'#;/:*5*+*#':$%%3,"+*9$*#$2+2,5"4'+*A$-&)**%'"*"-#&'-&J-$*82$*%$5J/,'.*
A
X>
-G'-;$$-;$--%*-&9##D$'$99$&#.!2M
9
= NX9,=>YO
X?
,*#&2%' $%$&' +* C*/$/ $ * ,*#"4"*-'/$-&* +$ 4$%&'# <".2%'# $/ 5*4'"# '5&*#
"52#&%'/"/'.$-#+$#*:$%'-"'4':$('9,'%&$/'"#$5$B'+'+*4*%,*C2/'-*9A'*/$#/*
&$/,**#".-*9*%$#2/*':#&%'&*+',$##*'9$*%$:$-&*,$5*82'5*"-+"B;+2*4%$#4$$/"+'+$
$$/#':$+*%"'M
9= X9,=YO82$5$82$4*-&$/,5''5.*+$2/52.'%'5&*&$/
'#$-#'()*+$+*/"-'()*+*2-"B$%#*
B-;%
/ 9 * #*5 A * #;/:*5* <2-+'/$-&'5 +$ 4*-<"%/'()* +' $B*52()* +$
*:"-#*-2''##*4"'()*4*/*'#&%*1+$2#A2/'+'#$&','#<"-'"#+'$B*52()*/'%$5'()*
"+$-&"&3%"' $#&':$5$4$1#$ $-&%$ '# +2'# <".2%'##4':$5*#%2"B*#+$*:"-#*-94'%'4&$%;#&"4'
+$#&'4'+' -' -'%%'&"B'9 $ ' "+$-&"<"4'()* 4*/ * +$2# ,*5*9 $/ *,*#"()* ' "*-"#*9
%$,%$#$-&'+* ,*%$-+%$+"9#)*"-+"4'+*%$#+'<*%&$5".'()*$-&%$* ,%*&'.*-"#&'$'$#&%$5'
,*5*A*+$2#+*#*59+'52G9$'.%'-+$"/,*%&J-4"'82$*'#&%*1%$"'+82"%$-'$@"#&6-4"'+$
*:"-#*-,$%/"&$'##*4"315*"/$+"'&'/$-&$'*+$2#
##"/4*/**##;/:*5*#+$'#4$-#)*9*##;/:*5*#%$5'4"*-'+*#E52G&6/4*-*&'()*
,*#"&"B' $.2-+* '4C$5'%+ M',2+ 9 =
X9 , =YO9 A ' /$#/' *,$%'()* +*
$#,;%"&*C2/'-*82$-*#5$B','%''52G$,'%'''5&2%'#+*"#&",*#+$#;/:*5*#"-+"4'/
2/$#&'+*$5$B'+*+$,2%"<"4'()*
5A/+"##*9*#*5.2'%+'$/#"&%'(*#+'#"/:*5*."''#4$-#"*-'55$$%.2$1#$-*4A2
&*+*#*#+"'#9B$-4$-+*'#&%$B'#9&%'G$-+*52G$4'5*%`''#4$-#)*52/"-*#'82$B'5*%"G'
,*#"&"B'/$-&$*#*5M
9= X9,=N=O5$A%$,%$#$-&'()*+'<*%('$+',*&6-4"'
2%'-"'-'
"/'.$/ +* #*5 -'#4$-&$ &$/ 5".'()* 4*/ ' %$,%$#$-&'()* +* -'#4"/$-&* +* #$%
C2/'-*##"/4*/*'4%"'-('%*/,$*B$-&%$+'/)$9*#*5%*/,$'$#42%"+)*,'%'4C$.'%E
B"+'#$,'%'()*$-&%$52G$&%$B'#',*-&','%'2/$#&'+*+$,$%<$"()**"&$#".-"<"4'*
4'*#9$-82'-&**-'#4$%+*#*5"/"&''4*#/*.*-"'9*2#$P'9'4%"'()*+*/2-+*
+$,%$4"'()* +* -$.%*9 +' -*"&$9 4*/* #;/:*5* +$ ,$4'+*9 '-.Z#&"'9 %$B*5&' $
P25.'/$-&* M
9 = X9 , =O 5".'1* '* &$/,* C"#&0%"4*9 '* &$/,* 82$ '-"82"5' $
+$.$-$%'
2%'-+M=
X9, O5$/:%'82$$-&%$82'#$&*+*#*#,%"/"&"B*#]^_4*-&'1#$*
&$/,*,*%-*"&$#$-)*,*%+"'#
X 5A/ +' 52G9 *,*-+*1#$ '*# #;/:*5*# +' $#42%"+)*9 * #*5 A +*&'+* +$ 2/' *2&%'
"/'.$/ :$-A<"4' * <*.* 4"/' +$ 82'582$% *2&%* #;/:*5*9 %$,%$#$-&' ,'%' /2"&'#
#*4"$+'+$#'%4'"4'#*$5$/$-&*4C'B$+$,2%"<"4'()*$%$-*B'()*
*/$<$"&*9*<*.*%$-*B'*/2-+*F,*%$5$#$%3%$#&'2%'+*2//2-+*-*B*9
5"B%$+'B$5C"4$9+'/*%&$9+'+$4*/,*#"()*$+',*+%"+)*9$&$%-'/$-&$B"B*9
$&$%-'/$-&$ 4%$#4$-&$9 '* /$#/* &$/,* *# /*%&*# #$ 5$B'-&'%)*9 '
"/*%&'5"+'+$ 4C$.'%3 '*# B"B*#9 * /2-+* %$-*B'%1#$13 4*-<*%/$ * +$#$P'+*
%'&'1#$ ,*% 4*-#$826-4"' +$ 2/' &)$$XY +' 82'5 *# :*-# -)* &6/
-'+' ' &$/$% 4'&3#&%*<$ <"-'5 4*5*4'%3 <"/ E C"#&0%"'9 ,*"# %$"-&$.%'%3 *
C*/$/-'$&$%-"+'+$$-':$'&"&2+$XNM
9= W 9,=YW1=YX9&%'+2()*
-*##'O
4'5*%'4%$#4$-&'1#$'&*+*#*#'&%":2&*#,*#"&"B*#+*#*5`4*/2/'$@"#&6-4"'+$
$@,%$##I$# 5"-.2;#&"4'# %$<$%$-&$# ' 2/ #$-&"/$-&* +$ $@4"&'()* *2 6@&'#$ %$5"."*#* 4*/
,'5'B%'# 82$ 4*-*&'/ $#&' #$-#'()* &A%/"4' / .%'-+$ -Z/$%* +$ &%":*# K,%"/"&"B'#
4*-4$:$/ * ,*+$% /3."4*1%$5"."*#* 4*/* K':%'#'+*%L $ * $@,%"/$/ ,*% &$%/*# 82$
#".-"<"4'/ K4'5*%L9 K82$"/'+2%'L9 K/2"&* 82$-&$L9 $&4XW M
9 = NX9 , =?>9 &%'+2()*
-*##'O
B-<%:A%%%%%%%=C%
/"&*4*#/*.V-"4*A*/"&*+$*%".$/$<*%/'()*+*/2-+*4*-C$4"+*9+*2-"B$%#*
*2+'4%"'()*+$,'%&$#+$5$#
XY
$-*B'()*
XN
$*- '---0&-$9'*$$7-'--*7-
$*7-9&$$7-&$*''$9$--$*$9$--$*-!-$
-D'$* ! -;$-$9 ' < ''$* ! - '-- 7 #$2 - ;%$ &
9!$;',*c'&'#&'#"#$-;$7$2$$&# -$$ 7-;#$*
9$%-;#-;9$$9$-9$$2M
9= W 9,=YW1=YXO
XW
% $ G&$'; &9$$ - &' %M-%< GW-$; $
-;<&$&$!% $G#-;*GW-;*G$D#;*$2M
9= NX9,=?>O
?
' *:%' +$ *2%-"$%9 *# #;/:*5*# 82$ %$/$&$/ '* /*/$-&* +' 4%"'()* ':2-+'/ XX
-- 9 A * $#,'(* +' "-+$&$%/"-'()*9 ' "5C' A 2/ 5"/:*9 -'+' ,'%$4$ '"-+' $#&'%
+$B"+'/$-&$+"#&"-&*-$##$2-"B$%#*9-*"-;4"*+'-'%%'&"B'
$.2-+* 5"'+$ M= W O9 *# ,%"/"&"B*# '4%$+"&'B'/ 82$ ,'%' 2/ C*/$/ *2 2/'
#"&2'()* #$ %$-*B'% $%' ,%$4"#* %$&*%-'% '*# ,%"/0%+"*#9 '* 4*/$(* +*# &$/,*#9 --
$&982'-+**#$5$/$-&*#'"-+'-)*$#&'B'/4*/,5$&'/$-&$#$,'%'+*#
# <'#$# $B*52&"B'# +$*:"-#*-9 +$ #2' "-"4"'()*9 #)* /'%4'+'# ,$5*# $5$/$-&*# +'
-'&2%$G' e.2'9 &$%%'9 '% $ <*.* 4'%%$.'/ $/ #" ,*&$-4"'5 +$ %$-*B'()* 3.2' %$,%$#$-&'
&%'+"4"*-'5/$-&$ 2/' %$'5"+'+$ -)*1C2/'-'9 *-+$ ' B"+' #$ +"##*5B$9 5".'+' .$%'5/$-&$ '
#;/:*5*# +$ /*%&$ * 4'#* +' 45$,#"+%'9 ' 3.2' 82$ $#4*%%$ #"/:*5"G' * &$/,* 82$ ,'##'
'%'+*@'5/$-&$9 ,*+$ #$ '##*4"'% ' 3.2' E %$.$-$%'()* $ E .$#&'()*9 ,*% 4'2#' +* 5;82"+*
'/-"0&"4*`:'#&'-&$+"<2-+"+'&'/:A/'4%$-('+$82$'3.2'A2/$5$/$-&*+$,2%"<"4'()*
3.2'5'B''#"/,2%$G'#$,$%/"&$2/'%$-*B'()*+*4*%,*$+''5/'
&$%%'5".'1#$'*##;/:*5*#+$<$/"-"5"+'+$$9,*%&'-&*9&'/:A/&$/,*&$-4"'5+$#$%
/)$&$%%'<A%&"5.$%'B"+'$/':2-+J-4"''/"&*5*."'.%$.'9'&$%%'9!'"'92-$1#$'*4A29
%'-*9$+3*%".$/'*#*2&%*#+$2#$#4*-C$4"+*#
$5$/$-&*'%9'##*4"'+*E<".2%'+$$-+%$+"9/'%4'2/'<'#$+'B"+'+$*:"-#*-
/'%4'+' ,$5' "/,%$B"#":"5"+'+$ $ ,$5' 4%"#$ ##"/ 4*/* '4*-&$4$ 4*/ * B$-&*9 -)* A
,*##;B$5+$&$%/"-'%*#/*B"/$-&*#+*#$2$#,;%"&*
$82'582$%<*%/'9*'%,$5'#2'%$5'()*
4*/*##;/:*5*#'#4$-#"*-'"#&$/2/#"/:*5"#/*,*#"&"B*
<*.*A*$5$/$-&*%$,%$#$-&'+*,*%/$"*+*425&*+$%2#*$'*#*5#&$+$B$#$%*
Z5&"/*9,*"#,'%',*+$%$-&%'%$/4*-&'&*4*/$##$$5$/$-&*A,%$4"#*82$*:"-#*-P3&$-C'
'54'-('+**Z5&"/*.%'2+$#2'$B*52()* $.2-+*%R$M= NX9 ,=N>O9*<*.*9-*/2-+*
"-*4$-&$9A$/%$.%'2/#;/:*5*,2%"<"4'-&$92//2-+*+$<5'/'#82$-"-.2A/9'-)*#$%*#
,$%<$"&'/$-&$ 4'#&*#9 ,*+$ '&%'B$##'% <*.* #"/:*5"G' -'# $&','# +$ "-"4"'()* '
%$##2%%$"()*$A'<'#$/'"#"/,*%&'-&$+'$B*52()*+*C*/$/92/'<'#$+$"-&$5$4&2'5"G'()*
$4*/,%$$-#)*+*4*#/*#
*+'#$##'#<'#$#5".'/1#$'%"&*#,%"/"&"B*#+$"-"4"'()*'%'*C*/$/,%"/"&"B**
Z-"4* /*+* +$ %$.$-$%'% * C*/$/ A 5$B315* +$ B*5&' E# *%".$-# $##' <*%/'9 $5$ ,*+$%3
-'#4$%+$-*B*9-*/*/$-&*+'4%"'()*+*/2-+*982'-+*C*2B$2/'5":$%'()*$-*%/$+$
$-$%."' $ <$%&"5"+'+$ "&*# +$ %$-*B'()* '&%'BA# +* %$&*%-* E 4*#/*.*-"'9 '* /*/$-&* +'
4%"'()* +* /2-+*9 #)* %$'5"G'+*# ,$%"*+"4'/$-&$ -'# #*4"$+'+$# '%4'"4'# /*/$-&* +'
XX
C"82$"%*95'/$"%*9/*-&2%*M19>O
?=
4%"'()*A*/*/$-&*+$/'"*%,$%<$"()*9*'<'#&'/$-&*+$##$,*-&*"/,5"4'2/'+$.$-$%'()*
$/+"%$()*'*<"/*%&'-&*9A,%$4"#*#$/,%$B*5&'%-*&$/,*
'%' %$'&"-."% ' ,$%<$"()* +*# ,%"/0%+"*#9 $-&%$&'-&*9 A -$4$##3%"* +$#&%2"% &2+* 82$
$@"#&$ $ #$ +$.$-$%*2/ %"&*# +$ ,'##'.$/ +' '+*5$#46-4"' ,'%' ' B"+' '+25&'9 * P*B$/ A
'&$%%*%"G'+*'&A'/*%&$4'%-$&%'-#<".2%'+'9*2#$P','##'+'-*<*.*+*#*<%"/$-&*$+'
/*%&$9A$5'$#*/$-&$$5'82$&%'-#/"&$'B"+'*"#&*+'&%'-#/"##)*'2&6-&"4','.'1#$4*/
2/' /*%&$X? M
9 =
=9 , ? 9 &%'+2()* -*##'O ,'##'.$/ ,*% $@,$%"6-4"'# 82$
4'2#'/ /$+*9 #*<%"/$-&*9 &*%&2%'9 5$B' *:"-#*- E +$#4*:$%&' +$ 2/ -*B* /*+* +$ B"+'9
%$B$5'-+*'$@"#&6-4"'+*#'.%'+*9+'#$@2'5"+'+$$+'/*%&$
]^_ '*# *5C*# +* ,%"/"&"B*9 $#&' &$%%;B$5 $@,$%"6-4"' +$ '.*-"' A
"-+"#,$-#3B$5 '* -'#4"/$-&* +$ 2/ C*/$/ -*B* $-C2/' "-"4"'()* A
,*##;B$5#$/2/''.*-"'92/'/*%&$$2/'%$##2%%$"()*%"&2'"#25.'+'-'
,$%#,$4&"B'+'#%$5"."I$#,%"/"&"B'#9''.*-"'+*/2-+*/*+$%-*A*#"-'5+$
/*%&$ "/"-$-&$9 /'# +$ /*%&$ -$4$##3%"'9 #'5B'+*%'9 ,*%82$ $5' A #$.2"+'
,*% 2/' %$##2%%$"()* $ &*%-'%3 ,*##;B$5 * '4$##* ' 2/ -*B* /*+* +$ #$%9
'82$5$ +' /'&2%"+'+$ $ +' %$#,*-#':"5"+'+$X M
9 = NX9 , WX1W?9
&%'+2()*-*##'O
,%"/$"%'$&','+$&*+''"-"4"'()*A'#$,'%'()*+*'+*5$#4$-&$$#2'<'/;5"'5$A
%$&"%'+* +* '4*-4C$.* +* 5'% ,'%' 2/ 52.'% *-+$ &$%3 +$ $@,$%"/$-&'% ,%*B'(I$# $
#*<%"/$-&*#9 $/ .$%'59 -' #$5B'9 -' <5*%$#&' <5*%$#&' A 2/ #;/:*5* +* '5A/9 -0# '
$-4*-&%'%$/*#$/-2/$%*#*#%"&*#"-"4"3&"4*#$/"#&A%"*#+*#,*B*#,%"/"&"B*#?M
9
= NX9 , >X9 &%'+2()*-*##'O 2"&'# B$G$#9 -$##$# 52.'%$#9 $@"#&$ 2/' 4':'-'9 #;/:*5* +*
B$-&%$ /'&$%-*9 *-+$ *-$0<"&* %$&*%-' '*$#&'+* ,%A1-'&'5$+$B$%$B"B$% '4*#/*.*-"'0
+$##' /'-$"%' $5$ ,*+$%3 &*%-'%1#$ 4*-&$/,*%J-$* +*# ,%"/$"%*# &$/,*#9 &*%-'-+*1#$ 2/
-*B*C*/$/
X?
# $ %9* ;$M7M&9 - $ - $* ;$ -- $ -- - !
$$-'2$$$$#$!&;$M
9= =9,? O
X
=>?<.<&$ *$$$-<&9;%$&-7-;#
'2 ;$$ &- %* $ $ 9$ $--2 5%9 -
&&$' -% &$'* -;% $ - % ; $ $* ;$9*-'$*&!;--$'&9$$&--;D7
';:$*--$$9$-&-$92M
9= NX9,WX1W?O
?
:$$.--;M-7*-$'<$$$!$.$D
&&-&$ 2M
9= NX9,>XO
?
'%' * C*/$/ '%4'"4* ' $@"#&6-4"' #$ <'G +$ 2/ ,%*4$##* 4;45"4* 4*/,*#&* +$ &%6#
,'%&$# .$%'()*9 /*%&$ $ %$.$-$%'()* C*/$/ -)* ,*+$ #$ '4*/*+'% $/ -$-C2/ +$##$#
$#&'+*# +' $@"#&6-4"'9 /'# +$B$ /'-&$%1#$ $/ 4*-#&'-&$ /*B"/$-&* $-&%$ '# <'#$# $ '##"/
.'%'-&"%'$&$%-"+'+$+$#2'$@"#&6-4"'
%$,%$#$-&'()*+*#$#82$/'#4;45"4*#&$/B3%"*##;/:*5*#94*/$('-+*,$5'%*+'9#$2
'%82A&",*2-"B$%#'59$,'##'-+*,$5'#$%,$-&$'#2',%"/$"%''4$,()*#"/:05"4'9
**<;+"4*','%$4$'##"/4*/**.%'-+$#;/:*5*+'&*&'5"G'()*+*#4*-&%3%"*#9+*
%"&/*,$%,A&2*+'#<'#$#'5&$%-'+'/$-&$-$.'&"B'#$,*#"&"B'#+*+$B"%40#/"4*M
9
=
X9,>=?O2&%*#;/:*5*+$/*B"/$-&*4;45"4*,%$#$-&$$/A'52'
$B"+*'
#2'+"B"#)*$/<'#$#9'52'#2.$%$#$/,%$2/,%*4$##*+$%$,$&"()*M
9= X9,
?XO5'/*%%$$%$-'#4$%$,$&"+'/$-&$&*+*#*#/$#$#$9'*/$#/*&$/,*/'%4'*&$/,*$
$@,5"4"&' * $&$%-* %$&*%-* ##"/ 4*/* ' C2/'-"+'+$ $5' &$/ <'#$ +$ 4%$#4"/$-&*9
+$4%$,"&2+$$+$#','%$4"/$-&*-&%$&'-&*$##$+$#','%$4"/$-&*-)*#".-"<"4'*#$2<"/9,*"#
$5' #$/,%$ %$-'#4$ +$ -*B* '##*4"'()* +* 4"45* 52-'% E $@"#&6-4"' C2/'-' .2'%+' 2/
4'%3&$% *&"/"#&'9 ,*"#%$B$5' ' 4%$-(' $/ 2/' %$-*B'()* 4*-#&'-&$ +' C2/'-"+'+$$ +$ 82$
4'+' 4'&3#&%*<$ $-.$-+%' 2/ %$4*/$(* "/*%&'5"+'+$ -)* #".-"<"4' ,'%' '# #*4"$+'+$#
,%"/"&"B'# 2/' #*:%$B"B6-4"' E /*%&$9 /'# #"/9 ' ,*##":"5"+'+$ +$ /*%&$ $ %$-'#4"/$-&*
4*-&;-2*#
3%B*%$&'/:A/A2/#;/:*5*4;45"4*/'"/'.$/%$4*%%$-&$$/4$%&'#425&2%'#A'
3%B*%$ "-B$%&"+' #&'9 #$.2-+* 2%'-+ M=
X9 , >YYO9 A :$/ #".-* +' 4*$@"#&6-4"'9 -*
'%82A&",* +' 3%B*%$9 +* $#82$/' +' %$4",%*4"+'+$ 4;45"4' / 4$%&'# 425&2%'# ' 3%B*%$
"-B$%&"+'#".-"<"4'82$'$-$%."'B$/+*'5&*,'%''&$%%'<*%('+*#;/:*5*4;45"4*+'3%B*%$
A %$<*%('+' ,$5' ,*##":"5"+'+$ "-$%$-&$ +$ #$ ,'##'% +* 4"45* E &%'-#4$-+6-4"' ,%*4$##*
$B*52&"B* +' 3%B*%$ 4'%'4&$%"G'1#$ ,$5' #2' %$-*B'()* 4*-#&'-&$ '&%'BA# +'# $#&'(I$# +'
-'&2%$G'9 /'# &'/:A/ ,$5* #$2 4%$#4"/$-&* B$%&"4'5 '; #2%.$ 2/' '/:".2"+'+$9 ,*"# #$2
,%*.%$##*9 #2' $B*52()* #$ :'#$"' -* +$4*%%$% +* &$/,* &$/,* &*/'+* '&A '.*%' 4*/*
'.$-&$"/,5'43B$5+'+$#&%2"()*9+'+$.$-$%'()*9-$##$4*-&$@&*9'##2/$2/4'%3&$%:$-A<"4*9
+$&$/,*+$/'&2%'()*$%$B".*%'/$-&*,'##'.$/+*&$/,*"/,5"4'2/+$#$-B*5B"/$-&*
-'&2%'5+'#C':"5"+'+$#9+'4','4"+'+$+$4%$#4$%$<%2&"<"4'%
'# /"&*5*."'# $ %$5"."I$#9 '# ,%"-4",'"# #".-"<"4'(I$# +* #"/:*5"#/* +'
e%B*%$ '5"3# :'#&'-&$ 4*/,5$@* #)* #*5"+3%"'# +' "+$"' +$ %$-*B'()*
,$%"0+"4' $9 "-<"-"&'9 +$ %$.$-$%'()*9 +$ <*-&$ +$ B"+' $ P2B$-&2+$9 +$
?>
"/*%&'5"+'+$ $ +$ %$'5"+'+$ ':#*52&'?= M
9 = NX9 , =?9 &%'+2()*
-*##'O
2&%*<'&*%82$'/$-"G'*4'%3&$%+$.$-$%'+*%+*&$/,*A'/$/0%"'&%'BA#+$5'A
,*##;B$5 %$B"B$% #"&2'(I$# +"<;4$"# $ %$,'%315'# /'"*% ,'%&$ +*# ,%*:5$/'# +$ *%+$/
,#"4*50."4' %$#*5B$1#$ 82'-+* * "-+"B;+2* 4*-#$.2$ B*5&'% '&A ' "-<J-4"' $ $-<%$-&'% #$2#
&%'2/'# 2'-+* ' ,#"82$ $#&3 $/ 4%"#$9 A E "-<J-4"' 82$ A ,%$4"#* B*5&'% ,'%' %$B"B$% $
+$,'%'%1#$-*B'/$-&$4*/*$B$-&*82$,%*B*4*2'4%"#$?M
9= NX9,NX9&%'+2()*
-*##'O
B-B&.%
%#%(A%
&$%%' &$/ 2/ "/,*%&'-&$ ,',$5 -* ,%*4$##* $B*52&"B* +$ *:"-#*- 5$ $#&':$5$4$
2/'%$5'()*4*/'"5C'82$25&%','##''4*-+"()*+$2/C*/$/'+',&'+*'*#$2$#,'(*+$
#*:%$B"B6-4"'2'%$5'()*A+$2/4'%3&$%,$##*'5$;-&"/*
##' "-&"/"+'+$ A &%'+2G"+' ,*% /$"* +$ +"<$%$-&$# #;/:*5*# .%2&' #"/:*5"G' -)*
',$-'#*4$-&%*+'"5C'9/'#,*+$#$%B"#&'&'/:A/4*/**#$2B$-&%$
2"&*#%"&*#+$,'##'.$/"-"4"3&"4'$@".$/2/'+$#4"+',$%".*#''2/52.'%+$-&%*+'
&$%%'92/'.%2&'*22/'4%'&$%'9"+$-&"<"4'+*4*/*Z&$%*5*4'5+$-&%*+'&$%%'$-.$-+%''
',%*@"/'()*+*#$24$-&%*
*%&'-&*9 ,%*$/"-$-&$/$-&$9 * $-&%* A * J/:"&* +* #'.%'+*9 ' G*-' +'
%$'5"+'+$ ':#*52&' $ /*+* #$/$5C'-&$9 &*+*# *# +$/'"# #;/:*5*# +'
%$'5"+'+$':#*52&'M3%B*%$#+'B"+'$"/*%&'5"+'+$9<*-&$#+'P2B$-&2+$9$&4O
$-4*-&%'/1#$&'/:A/#"&2'+*#$/52.'%$#4$-&%'"#$#&%'+'82$5$B','%'
*4$-&%*A2/4'/"-C*+"<;4"5]^_$#&%'+'A3%+2'9%$,5$&'+$,$%".*#9
,*%82$9 -' B$%+'+$9 %$,%$#$-&' 2/ %"&2'5 +$ ,'##'.$/ +* J/:"&* ,%*<'-*
,'%' * #'.%'+*9 +* $<6/$%* $ "52#0%"* ,'%' ' %$'5"+'+$ $ ' $&$%-"+'+$9 +'
/*%&$,'%''B"+'9+*C*/$/,'%''+"B"-+'+$C$.'%'*4$-&%*$82"B'5$'
2/'4*-#'.%'()*92/'"-"4"'()*F'$@"#&6-4"',%*<'-'$"52#0%"'+$*-&$/+3
?=
- .$#-% $ - -%* - &&- % $ .- -; U ;--
F&-<U$--;9'--$&9!$* *9%99$*G
'$6';*;$-$9$9-$9-2M
9= NX9,=?O
?
! - &.#9 $ * ;$ 7 -; !;- $ ' & '' $ $ '
-;9'9$!&'!9-2M
9= NX9,NXO
?Y
52.'% ' 2/' -*B'9 ' 2/' B"+' 82$ A %$'59 +2%'+*2%'9 $<"4"$-&$ M
9
= 9,XO
5"'+$%$B$5'B3%"*#/"&*#82$'<"%/'/*&$/'+*C*/$/4*/*#';+*+'&$%%'-&$#
$5$B"B"'#*:$5'$$/$%."2E#2,$%<;4"$'&%'B$##'-+*B3%"*#-;B$"#
]^_ ' 4*-+"()* +* $/:%")* $ +* %$4A/1-'#4"+* A C*/05*.' E $@"#&6-4"'
/;&"4' +' $#,A4"$ C2/'-' -* #$"* +' $%%'F 4'+' 4%"'-(' %$,$&$9 $/ #2'
4*-+"()* ,%A1-'&'59' #"&2'()*+'C2/'-"+'+$ ,%"/*%+"'5'##"/"5'()*+'
/)$ C2/'-' E !%'-+$ )$ &$5Z%"4' A 4*/,5$&'?> M
9 = NX9 , = W9
&%'+2()*-*##'O
+$#4"+' '* 4$-&%* A ,'%'+*@'5/$-&$ 2/' #2:"+' -* &$/,* *5&'% '* 4$-&%* A
%$&*/'%'4*-+"()*+$.$#&'()**%A/9C3*2&%*5'+*-*##;/:*5*#+$,$-$&%'()*-*"-&$%"*%
+'&$%%'82$%$/$&$'*#$,254%*$'*#$,25&'/$-&*9/'##$/'4*-*&'()*-$.'&"B'82$'/*%&$
'##2/"2-'##*4"$+'+$#/*+$%-'##$,25&'/$-&*A#"-V-"/*-$#&$#/"&*#+$%$,*2#*$+$
"-&"/"+'+$&$%%'%$5'4"*-'1#$-)*',$-'#'*##;/:*5*#+*B$-&%$/'&$%-*4*/*&'/:A/A*
5*4'5+*Z5&"/*%$,*2#*5'A:$%(*$#$,254%*
3 2/' $2<$/"G'()* '* #$ 4*-#"+$%'% ' 4'B$%-' 4*/* #;/:*5* +$ %$<Z."*9 ':%".*9
#$.2%'-('9 ':*5"-+* '# 4*-+"(I$# +$ &%$B'#9 * %2;+* $ *# /'5$<;4"*# 82$ ,'%$4$/ #$% *#
'&%":2&*# ,%"/*%+"'"# +' 4'B$%-' M
9 =
X9 , Y=O 4'B$%-' A * '%82A&",*
,%"-4",'5 +' 4'B"+'+$9 *2 #$P'9 +' /'&2%'()* +* B$-&%$9 +' "-&"/"+'+$ $ +* #$,254%* #
<*%/'# 4V-4'B'# #)* %$5'4"*-'+'#9 '4"/' +$ &2+*9 '* 0%.)* <$/"-"-* 4'B$%-'9 ' &'(' *2
82'582$% *2&%* #;/:*5* +$ "-&"/"+'+$ #$/,%$ %$/$&$/ E# <".2%'# <$/"-"-'# *%&'-&*9 &*+'
.%2&'A4*-#"+$%'+'4*/*,*%&'+*%'+$'&%":2&*#/3."4*#+$%$-*B'()*<'#$+'P2B$-&2+$
+$2/C$%0"'##*4"'1#$.$%'5/$-&$'&'"#"/'.$-#95".'+'#E<$/"-"5"+'+$$E#$@2'5"+'+$
# $#82$/'# +$ +$#4"+'9 '5A/ +* %$&*%-* '* B$-&%$ /'&$%-* $ #$@2'59 5".'/1#$ E
+$.52&"()*+*B$-&%$+".$#&"B*##"/4*/**-'#:;:5"4*$#&$B$-*B$-&%$+':'5$"''-&$#+$
?>
=>?-$-;.$'M9$#-%97-;<$.$#!-;&D#
-"0#! $9&D$*$&9M$-*-$$-;#$9&-2
;-$-D#7-/D$--!$&-D$2M
9= NX9,= WO
?N
&*%-'%1#$2/-*B*C*/$/982'582$%"-+"B;+2*,*+$&$%2/'$#&'+"'-*B$-&%$+*/*-#&%*82$
*$-.*5"2,'%'%$-'#4$%
B-D&.%
%E=
F#%
%
# #;/:*5*# +* +2,5* #)* %$4*%%$-&$# -' *:%' +$ *2%-"$% $#+$ #$2 ,%"/$"%*
%*/'-4$9 '# %$<$%6-4"'# ','%$4$/ <%$82$-&$/$-&$ %$5'()* +$ $-+%$+" $ *:"-#*- #$
4'%'4&$%"G',*%/$"*+$##'#"/:*5*."'5$##)*+2'#,'%&$#+$2//$#/*&*+*82$#0,*+$
<2-4"*-'% 4*/ ' "-&$%B$-()* +*# +*"# *% "##*9 82'-+* $-+%$+" ,'%&$9 *:"-#*- &$/ #$2
/2-+* +$#$82"5":%'+* C'%/*-"' A %$&*/'+' ',$-'# 82'-+* #2%.$ 2/ #2:#&"&2&* ,'%'
$-+%$+"9 82$ ,*+$ -*B'/$-&$ $82"5":%'% ' %$5'()* +2'5 * .%2/$&$ ''-9 *2 $2+"9 4*/* *
-*/$"'*:"-#*-
*2%-"$% $/ #$2 $-#'"* '2&*:"*.%3<"4* $ -$ %$##'5&' ' "/,*%&J-4"' +*#
.6/$*#-'/"&*5*."'
#.6/$*#&$%"'/*52.'%4$-&%'5+$"-&$%4$##*%$#$-&%$*4A2$'&$%%'#&$
,',$55C$#A'&%":2;+*$/B3%"'#/"&*5*."'#-'#82'"##$'+/"&$82$.6/$*#
4*/'-+'/ '# -2B$-# $ ' 4C2B' ]^_ #&' <2-()* $@,5"4'1#$ '5"3# /2"&*
5*."4'/$-&$ */$<$"&*.6/$*# k<$42-+"+'+$$@&%'*%+"-3%"'+' /)$
$
*2&%*5'+*4C2B'k<$%&"5"+'+$+'&$%%'?YM',2+!9= =9
,=X9&%'+2()*-*##'O
%$5'()* .$/$5'% &$/9 ,*%&'-&*9 ,*&$-4"'5 $-*%/$ +$ .$%'()* +$ B"+' $
4*-452#"B'/$-&$ +$ %$-*B'()* '#9 * ,',$5 ,%"-4",'5 +* &$/' +*# .6/$*# -' *:%' +$
*2%-"$%9,'%$4$#$%'#2'4*/,5$/$-&'%"+'+$
$B*4'()*+$*:"-#*-'*#.6/$*#'#&*%$052@9*2*#
"0#42%*#9+$"@':'#&'-&$
45'%'',%$,*-+$%J-4"'+*&$/'052@$'#&*%$%'/<"5C*#+$$+'94*/82$/f$2#+$"&*21
#$ $/ <*%/' +$ 4"#-$ 5$# -'#4$%'/ +$ 2/ /$#/* *B*9 ,*%A/ 052@ $%' "/*%&'59 <"5C* +$
?Y
6<.$-&-$-;$$--$-$2T--$%9
&- .$#-% C - $ ! 6< $ < % $ 7 - &- =>?2 $$
$;<&-!;--$D-%!$2 $+6<^ 9$9<$-D2;$
&$&-^ $-$9-$2M',2+!9= =9,=XO
?W
f$2#9 $ '#&*%9 /*%&'59 <"5C* +$ ;-+'%* 052@ ,*% '/*% +"B"+$ ' #2' "/*%&'5"+'+$ 4*/ *
"%/)*'#&*%
'#&*%<*"/*%&*$052@9"-4*-#*53B$54*/',$%+'+*"%/)*9,$+"2'Z,"&$%
82$ 5C$ ,$%/"&"##$ *<$%$4$% ' #2' ,%0,%"' B"+' ,$5' +* *2&%* Z,"&$%
4*-#$-&"282$*#+*"#"%/)*#B"B$##$/'5&$%-'+'/$-&$9,'##'-+*2/+"'-'
&$%%' $ *2&%* -' /*%'+"' 4$5$#&"'5 $.2-+* *2&%' B$%#)*9 Z,"&$%
%$4*/,$-#*2 ' '<$"()* +*# "%/)*#9 4*5*4'-+*1*# $-&%$ '# $#&%$5'#9 4*/*
!$/"-"9*#!6/$*#
#+*"#%$4$:$%'/C*-%'#+"B"-'##*:*-*/$+$
"0#42%*#M<"5C*#+$*B$O
M99,= YO
' -'%%'&"B' +$ *2%-"$%9 * +2,5* $#&3 ,%$#$-&$ "-452#"B$ -* +"#42%#*9 4*/* +"&*
'-&$%"*%/$-&$ C"#&0%"' A 4'%'4&$%"G'+' ,$5' %$,$&"()*9 ,$5' +2'5"+'+$9 $/ B3%"*# -;B$"#
%"/$"%* $/ %$5'()* E -'%%'&"B' +$ $<*$ $,*"#9 '* ,%0,%"* ,%$<34"*9 -* 82'5 &*+' '
&%'P$&0%"'+$*:"-#*-A4*-&'+',%$B"'/$-&$'&%'BA#+'#,'5'B%'#$-"./3&"4'#+*4',"&)*'-
$R##$5 $ +* &'%V 9 '"-+'9 ,$5' ,%$#$-(' +$ +2'# B*G$# -'%%'&"B'#9 82$ %$,%$#$-&'/ *-%M
)$'%$4"&'()*+*-'%%'+*%*-"#4"$-&$
B-G>
%=
-82'-&*9 -' *:%' +$ $<*$9 ' #$@2'5"+'+$ +$ *:"-#*- A &*&'5/$-&$ #2,%"/"+'9 $/
*2%-"$%$5'A<'&*%<2-+'/$-&'5,'%''4*/,*#"()*+*$-%$+*
$<*$%$#*5B$*,%*:5$/'+'
<'5&' +$ 2/' 4*/,'-C$"%' ,'%' * -32<%'.*9 ".-*%'-+* 4*/,5$&'/$-&$ #2' #$@2'5"+'+$ /
*2%-"$%$##'A2/',%*:5$/3&"4'82$'##"-'5'*,%*4$##*$B*52&"B*+$*:"-#*-
<$&"B'/$-&$9*C$%0"4*/$(''#2'&%'P$&0%"'"/:2;+*+'&$-+6-4"','%'2/'%$5'()*
C$&$%*##$@2'5 $ $B*52" $/ +"%$()* E '-+%*."-"'9 4*/* %$<5$@* +$ 82$ '54'-(*2 $82"5;:%"*9
'&%'BA#+'2-")*+$<*%('#*,*#&'#
&$/' +' '-+%*."-"' $#&3 "-&"/'/$-&$ 5".'+* '* +"#42%#* +* +2,5* $.2-+* '
&%'+"()*9*#$%'-+%0."-*A+*&'+*+$,*+$%$#82$#2,$%'/82'582$%"-+"B;+2*C$&$%*##$@2'5
"##$@2'5"+'+$$-B*5B$2/4A%$:%*/'"#'&"B*82$*4*/2/9,*"#*#+*"#5'+*#9*<$/"-"-*$
*/'#425"-*9+$#$-B*5B$/1#$4*/'/$#/'$<"434"'
?X
$.2-+**25*2/"AM= ??9,YN9&%'+2()*-*##'O9'4*-P2-()*+*#+*"##$@*#-2/
/$#/* #$% #".-"<"4' #"/:*5"4'/$-&$ ' 4*"-4"+6-4"' +*# *,*#&*#9 $/ &*+*# *# -;B$"#9 '
+2'5"+'+$#2,$%'+'$/2/'C'%/*-"'#2,$%"*%9*82$A2/'+$<"-"()*+*$#&'+*+"B"-*?N
%'+"4"*-'5/$-&$9 '# <".2%'# +"B"-'# #)* '-+%0."-'# ##' A 2/' /'-$"%' +$
%$,%$#$-&'% 2/' %$'5"+'+$ ':#*52&' $/ 2/ /$#/* #$% -+%*."-"' "/,5"4' &*&'5"+'+$9
'2&*-*/"' $ <*%(' ` ' 2-")* +* 4A2 $ +' &$%%' '-+%*."-"' A 2/' <0%/25' '%4'"4' $
2-"B$%#'5 ,'%' $@,%"/"% ' %
9 ' 4*"-4"+6-4"' +*# 4*-&%3%"*#9 ' $
&&$?W M
9 = NX9 , =N9 .%"<* +* '2&*%9 &%'+2()* -*##'O -&%$&'-&*9 A
-$4$##3%"* $#45'%$4$% 82$ ' 4*-+"()* '-+%0."-' +*# #$%$# +"B"-*# -)* %$&"%'B' +$5$# #2'
/'#425"-"+'+$*2#2'<$/"-"5"+'+$-&$-+'/82$''-+%*."-"'&*%-'1#$2/'<0%/25'.$%'5
,'%' $@,%"/"% ' %%9 ' ,%:9 ' %
F +"G$% +$ 2/' +"B"-+'+$ 82$ $5' A
'-+%0."-'9A+"G$%*$82"B'5$-&$'82$$5'A*#$%':#*52&*9'%$'5"+'+$Z5&"/'?XM
9
= NX9,=W9.%"<*+*'2&*%9&%'+2()*-*##'O
#"/:*5*."'+'52'$#&3"-&"/'/$-&$'&'+'E+''-+%*."-"'52'9#;/:*5*,%"/*%+"'5
+'-*##'&$/,*%'5"+'+$4*5*4'2/'6-<'#$".2'5$/&*+'#'##2'#<'#$#9,$5'+"B"#)*$@'&'+'#
#2'#82'&%*<'#$#
3%B*%$9<".2%'%$4*%%$-&$-*5"B%*9A&'/:A/2/''5$.*%"'82$%$/*-&'E'-+%*."-"'
5'A*#;/:*5*+$2-")*$-&%$*#4*-&%3%"*#
3%B*%$ &*&'59 4*/,%$$-+$-+* '* /$#/* &$/,* '# %';G$# $ *# .'5C*#9
<*%-$4$ 2/ $@4$5$-&$ #;/:*5* +$ 4*-P2-&* 4','G +$ 2-"% +2%'B$5/$-&$
*,*#&*#9 &$%%' $ '%9 B"+' $ /*%&$9 52G $ $#42%"+)* '-&'.*-"#/* +$#<'G1#$
,$5'/Z&2'+$,$-+6-4"'+'#,'%&$#9".2'5/$-&$,$5'4','4"+'+$+'3%B*%$+$
"-B$%&$%1#$ ]^_ /$+"'()* +* &%*-4* ,$%/"&$ ' &%*4' +"-J/"4' $-&%$ *#
B'5*%$# 4*-&"+*# -'# %';G$# $ '82$5$# 82$ ,$%&$-4$/ '*# .'5C*#??
M!9= =9,=YY9&%'+2()*-*##'O
?N
6$<<::$% .-!$-\&&9*7$
- '<* - -$9 $9 # &9* ! $ 9 $ -;9$$ '2
M`9= ??9,YNO
?W
;%. $ - #\! $ '-- & <& - * - \ $*-4*"-4"+$-&"'*,,*#"&*%2/2M
9= NX9,=N9.%"<*+*'2&*%O
?X
$F ! -;%. '$ - %99- & <& -;* - * - 0
;'$9!;--$%.*;$9!'-$!;--$-;:$-*--$9-$2
M
9= NX9,=W9.%"<*+*'2&*%O
??
; $$-* &$ 7 - - $ - #* $ <--$ .- ;-
&-;-$&&9*$$*'$$*-D$$92;$%9 $
&-$--9&&$*9%-$&-&$9-;7;'$=>?29$
$&$-;9#%.!$-'-$-$--!&&$$<
#M!9= =9,=YYO
??
2&%'# "/'.$-# '##*4"'+'# #)* ' 4%"'-('9 #$% +$ #$@2'5"+'+$ ,%$/'&2%' $ "-+$<"-"+'
,$5' ','%6-4"'9 $ ' /)$9 82$ .%3B"+'9 4*-#&"&2" 2/ #$% +2,5* !%'-+$ ,'%&$ +*# #;/:*5*#
,%$#$-&$#$/%$<$%$/1#$E,$%<$"()*+*#$%'-+%0."-*
` :'#&'-&$ #".-"<"4'&"B* 82$ ' #$@2'5"+'+$ +$ *:"-#*-9 ,'%' #$% 45'##"<"4'+' 4*/*
#*:%$1C2/'-'9$#&$P''##*4"'+''2/6@&'#$#*5'%9+'+*82$9$/.$%'59,'%'*#C*/$-#2/'
5":"+*&"&J-"4'+$#,$%&'82'-+**#*5'+*%/$4$9$'52G+*+"'A<%$82$-&$/$-&$'$#42%"+)*+*
+$#$P*M[9= NX9,=WO5A/+"##*9'$@&"-()*+$2/'#$@2'5"+'+$4'%-'5%$<*%('*
#$-&"+*+$':*5"()*+*,%0,%"*&$/,*4'%-$A#;/:*5*+$/*%&'5"+'+$$*+$#$P*B*5&'+*
,'%'$@,$%"6-4"'#/$&'<;#"4'#%*/,$4*/*2-"B$%#*5".'+*E&$/,*%'5"+'+$
? D!'$!*''!
,'%&"% +'# "-<*%/'(I$# 4*-&"+'# -'# ,'%&$# '-&$%"*%$# +$#&$ &%':'5C*9 A ,*##;B$5
*:#$%B'% 4*/ /'"# -"&"+$G ' 4*/,*#"()* +$ ! $ '
#".-"<"4'()*+$/2"&*#+$#$2#'4*-&$4"/$-&*#
3%"*#<'&*%$#4*-&%":2;%'/,'%''/$&'/*%<*#$+',$%#*-'.$/*:"-#*-%2#*$2/
#$% C2/'-* /$+;*4%$ &%'-#<*%/'+* $/ 2/ "-+"B;+2* '5&'/$-&$ $#,"%"&2'5"G'+* $
'2&*##2<"4"$-&$ $B*52()* +$ *:"-#*- %$<5$&$1#$ -* '#,$4&* <;#"4*9 -'# '(I$# $ -*#
,$-#'/$-&*#9 '5A/ +$ 4*-<"%/'+' "-#"#&$-&$/$-&$ ,$5'# ,'5'B%'# +* -'%%'+*% $ +' ,%0,%"'
,$%#*-'.$/
/'-$"%''&%'BA#+'82'5#$4*/,5$&'*,%*4$##*+*+$#$-B*5B"/$-&*+$%2#*$A'
,%"-4",'5 /'&A%"' +' *:%' $ <*%-$4$ '# ,'%&$# /'"# "-&$%$##'-&$# +* &$@&* &%'P$&0%"' +'
,$%#*-'.$/A"-#,"%'+'-*#%"&*#+$"-"4"'()*94*%%$#,*-+$-&$#E,'##'.$/+''+*5$#46-4"'E
"+'+$'+25&'$E%$-*B'()*+*C*/$/9+*C$%0"$+*/2-+*/:2#4'+$4*/,%$$-+$%/'"#
45'%'/$-&$ '# /2+'-('# #*<%"+'# ,$5' ,$%#*-'.$/9 4$%&'# $@,$%"6-4"'# #$%)* *:#$%B'+'# +*
#$2,*-&*+$B"#&'#"/:05"4*
*-.$+'#$@,$4&'&"B'#+$82'582$%$#&2+"*#*9*2%-"$%2&"5"G'2/5$82$+$#;/:*5*#9
'5$.*%"'# $/"&*#9 82$ -)* #$ 5"/"&'/ ',$-'# '*# %"&*# ,%"/"&"B*#9 /'# ' B3%"'# #"/:*5*."'#
"-&$%$##'-&$#'*'2&*%94*/*'82$5'#+*&'%V9+':;:5"'$+*#/"&*#.%$.*#<"/+$4*/,*%
2/ 4*-P2-&* /'"# 4*$#*9 $#&$ &%':'5C* ',$.'1#$ ,%"-4",'5/$-&$ '*# &$/'# %$#,$"&'-&$# '*#
/"&*#,%"/"&"B*#9#$/".-*%'%9$-&%$&'-&*9*2&%*##;/:*5*#$@,5"4"&'+*#
D-5,H%
,%$<34"*+$ !A2/+*#&%$4C*#/'"#"-&%".'-&$#
+' *:%' +$B"+* E %$4*%%6-4"' '* '%&"<;4"* +* &'%V ,'%' %$B$5'% ' &%'P$&0%"' +' $B*52()* +$
*:"-#*-#&','%&$9$#4%"&',*%*2%-"$%',$-'#+$,*"#+$&$%4*-452;+**%$#&'-&$+'*:%'9A
2/ %$+*:%'/$-&* +$ &*+' ' -'%%'&"B' &%'BA# +*# #;/:*5*# /;#&"4*# +* &'%V $.;,4"*9 *
4',"&)*'-
$R##$59'+"'-&''*5$"&*%$'*,%0,%"**:"-#*-'#<'#$#82$"%)*/'%4'%'#2'
&%'P$&0%"' +'5" $/ +"'-&$ 5"-.2'.$/ #"/:05"4' +* 4',"&)* +* "%."-"$ '+82"%$ #$-&"+* '*
4*/:"-'%1#$,$%<$"&'/$-&$4*/*#$B$-&*#*4*%%"+*#+$#+$*-'2<%3."*+*-'B"*
2+* $#&'B' +"&*9 /'"# $@'&'/$-&$ ,%A1+"&* $#&'B' ',$-'# B"B$% *
<2-+*9 $#&$ ,%$5Z+"* A 2/' <"4()*9 2/ ,*##;B$5 +$ ,*##;B$59 #*:%$ *# 82'"#
$5$ '-&$4",'9 4*5*4'-+* ,%*,%"'/$-&$ * +$#&"-* /$&'&$@&2'5/$-&$ ##$
,'##$ +$ /3."4' 5"&$%3%"* 4*-<$%$ :%2&'5/$-&$ E 'B$-&2%' +* #*5"&3%"* 2/'
+$-#"+'+$$@"#&$-4"'5+$#4*-4$%&'-&$0#-'2<%'.'/*#-'"5C'4*/$5$9-0#
#*/*#*:"-#*-? M
9= =9, ?1 9&%'+2()*-*##'O
5$"&2%' +* &'%V <2-4"*-' 4*/* 2/' $#,A4"$ +$ *%3425* ##"/ 4*/* -' &%'.A+"'
.%$.'9 * C$%0" #2:/$&$1#$ E B$%+'+$ "%%$<2&3B$5 +$ 82$ * C*/$/ A ,%$+$#&"-'+* ' 2/'
&%'P$&0%"'+'82'5-)*,*+$#$$#82"B'%9+$&$%/"-'+',$5'##2'#$#4*5C'#M#$[O
2%'-&$ ' 5$"&2%' +'# 4'%&'# ,*% '- $R##$59 '5.2-# &%'(*# +' ,$%#*-'5"+'+$ +*
4',"&)* $ +$ *:"-#*- #)* %$B$5'+*# &%$4C* +$ ':$%&2%' +' *:%' &%'-#,'%$4$ &$-#)*
*:"-#*-#$-&$1#$"-4*/*+'+*4*/'#/'-$"%'#+*4',"&)*9$/,$%<$"&'4'5/'9+2%'-&$2/'
,$%".*#'&$/,$#&'+$
/"#&"4"#/* +* 4',"&)* A %$##'5&'+* ,$5'# +$#4%"(I$# <$"&'# %"/$"%*9 $5$ A
4*/,'%'+* ' 2/ 2+'9 +$,*"# ' 2/ "5$-* $9 ,*% <"/9 ' 2/ +"':* 2+'9 -* :2+"#/* A *
&;&25* +'+* E82$5$# 82$ '54'-('/ ' #':$+*%"' $ * 4*-C$4"/$-&* ,$%<$"&*# "5$-* A 2/'
<".2%' +' /"&*5*."' .%$.'9 '4*/,'-C'-&$ +* +$2# "*-"#* $ ,*%&'+*% +$ .%'-+$ #':$+*%"'9
/'# +$ 2/ 4'%3&$% $@&%'B'.'-&$ $ 5":"+"-*#* 5$-+' 4*-&' 82$ #*: * $<$"&* +* 354**59
'+82"%"',*+$%$#$#,$4"'"#$%$4$:"'*+*/+',%*<$4"'%$5'()*$#&':$5$4"+'$-&%$'#+2'#
<".2%'#<'G$4*-'+$#4%"()*+',$%#*-'.$/*:"-#*-4C$.'''<"%/'%82$*4',"&)*&"-C'
+$4"+"+'/$-&$ ,'5'B%'# +$ 2/' "-82"$&'-&$ %$##*-J-4"' $ 4C*4'1#$ ,*% #2' "-&$5".6-4"'
+"##*5B$-&$ $ * $,"42%"#/* 4;-"4* 82$ $5$ *#&$-&'B' = M9 = X9 , 9 &%'+2()*
-*##'O$.2-+**$,"42%"#/*9*4'/"-C*,'%''<$5"4"+'+$$#&3-2/'B"+'+$:2#4'4*-#&'-&$
,$5* ,%'G$%F 2/' /'-$"%' $<"4"$-&$ $ "/$+"'&' +$ $5"/"-'% ' +*% '##*4"'()* $-&%$ '-
$R##$5$'<".2%'+$
"*-"#*9%$'<"%/''"/,*%&J-4"'-'*:%'+'"-<526-4"'+*+$2#
"*-"#*9
"-4*%,*%'+* ,*% $-+%$+" ##"/9 4*/* * ,%0,%"* "5$-* 82$ '4*/,'-C' "*-"#*9 '-
$R##$5'2@"5"'%3$-+%$+"9-*#$2,',$5+$"-"4"'+*%+$*:"-#*-
?
"$ 9$$ $* &- <$$+ &9M$2 - $$ !;7 - ''2 * &9- $ $* &- &-* -!- - $&* $$$ &&$ - $ G.;2 $ &$%$$ -$$9 D $-$ 7 -;'$ -$ $9 <$$-- -'$2
9#-;P-'-*2M
9= =9, ?1 O
'$99$$;!9$$9M9= X9, O
=
&$--%-'$$-;9&.!!;-9$-$2M9= X9, O
=
;/:*5*# ,%$#$-&$# +$#+$ * ,%$<34"* ,%$,'%'/ ,'%' ' /$&'/*%<*#$ +$ *:"-#*- 2
#$P'9-)*',$-'#*&'%V"-<*%/'*# $B$-&*#'#$.2"%&$/,$#&'+$$'$#42%"+)*9$B*4'+''
&*+**/*/$-&*9#"/:*5"G'/*'*#$'*/$#/*&$/,*,%$'-2-4"'/2/'-*B'$%''%'*#
,%"/"&"B*#9&*+''&%'-#<*%/'()*"/,5"4'2/%$&*%-*'*#,%"/0%+"*#
*:"-#*-%$5'4"*-'9$/+$&$%/"-'+*/*/$-&*9*:'%25C*+'&$/,$#&'+$9'2/#':3
+$ :%2@'# * 4*-&%3%"* +* 82$ /2"&*# "/'."-'/ +$B"+* E 4'/,'-C' %$'5"G'+' ,$5' ".%$P'
4'&05"4''<"/+$+$-$.%"%'#%$5"."I$#,'.)#+2%'-&$#A425*#9*##':3##)*4*/$/*%'(I$#+$
4$5$:%'()*+'B"+'$+'-'&2%$G'9+$/2"&''5$.%"'9:'#&'-&$+"<$%$-&$#+'#*%."'#$%"&2'"#+$
#'4%"<;4"*82$,*B*'/*"/'."-3%"*,*,25'%
+"' +* -'2<%3."*9 ? +$ #$&$/:%*9 A ,%0@"/* E +'&' $/ 82$ #$ %$'5"G' * #':3 +*
$82"-04"* +' ,%"/'B$%'9 -* C$/"#<A%"* #25 ` * 4*/$(* +$ 2/' A,*4' :$-<'G$P'9 /'%4' *
"-;4"*+',%"/'B$%'9'B*5&'+**5',0#*"-B$%-*$,%*/$&$'%$-*B'()*+'-'&2%$G'&%":2"%
E &$/,$#&'+$ 2/ 4'%3&$% +$ #':3 <'G +$5' * /*/$-&* +$ "-;4"* +$ 2/' &%'P$&0%"' %2/* E
%$-*B'()*9'*+$#':%*4C'%9'*%$<5*%$#4"/$-&*94'%'4&$%;#&"4'#+',%"/'B$%'
# 82'&%* $5$/$-&*# +' -'&2%$G' $#&)* /"#&2%'+*# '"-+' -$##$ /*/$-&*9 4*/* -*
"-;4"*+*#&$/,*#e.2'9'%9<*.*$&$%%'$/:'%'5C'/1#$4*/'#"/'.$-#+*/'%9+*<*.*+$
'-&$5/*9 * B$-&* $ ' "-2#"&'+' &$%%' +' "5C' -'2<%3."* '4*-&$4$ #*: ' "-<526-4"' +'
4*-.%26-4"'+$&*+*#$#&$#$5$/$-&*#C'%/*-"G'+*#
* Z5&"/* ,'%3.%'<* ' "/'.$/ +' 52' 4C$"' A $B*4'+'9 "-+"4'-+* ' $#&%2&2%' 4;45"4'
+*#'4*-&$4"/$-&*##&$,%"/$"%*4"45*+$$B$-&*#4*/,5$&'1#$4*/*$-.*5"/$-&*+*C$%0"
,$5*/'%9+$*-+$,*+$#2%."%2/-*B*C*/$/*:"-#*-A"-&$.%'+*'$##$2-"B$%#*4'0&"4*9
82'-+*'4*%+'-'#2,$%<;4"$+',%'"'9-*4',;&25*#$.2"-&$
D-8)=%
`*+$/"2%.*9$5$4*/$-&*2/+*#&%6#'%4'-*#/'"*%$#<2-+'/$-&'"#5$
<".2%' 2/ ,$5*&"82$"%* $/ ,A +"'-&$ +$ 2/' :'-4'+' 4*:$%&' +$ *:P$&*#
C$&$%045"&*###*#".-"<"4'82$C3$/B*462/*%.'-"G'+*%5$52&'4*-&%'
2/ 2-"B$%#* $/ +$#*%+$/ 82$ $5$ #$ $#<*%(' $/ +*/"-'% 4*/ /$"*#
"/,%*B"#'+*#5$,'%$4$4C$.'%539/'#-)*$#82$('/*#82$$##$+$/"2%.*
A&'/:A/,$5*&"82$"%*#2'*:%'A"52#)*9#2'*%+$/A"52#0%"'-<$5"G/$-&$
$5$ * ".-*%' 4$&"4"#/* -)* A #$2 <*%&$ M9 = X9 , X9
&%'+2()*-*##'O
;$-9%*$M$M-2;$6 $<2- %$-$
'$9$-'$;6$#9$-$2-% !;-.'%$2--$$$
&'%VAP*.'+*4*/*"-&2"&*+$5$B'%'*'2&*4*-C$4"/$-&*9*%"$-&'%$#,"%"&2'5/$-&$$
,%$B$% * <2&2%* # 4'%&'# $@":$/ "/'.$-# '%82$&;,"4'#9 '&%'BA# +'# 82'"# * $#&2+"*#* *2
/;#&"4*+*&'%V:2#4'%$B$5'%2/'#".-"<"4'()*+'B"+'C2/'-'
'5$"&2%'<$"&'-*,%$<34"*',%"/$"%'4'%&'82$#2%.$A*+$/"2%.*9*2*/'.*94*/*
A4*-C$4"+*&%'+"4"*-'5/$-&$"/'.$/%$,%$#$-&'+'A'+$2/P*B$/+"'-&$+$2/'/$#'
4*/B3%"*#*:P$&*#`',%"/$"%'4'%&'9'+$-Z/$%*=5'"-+"4'*"-;4"*+$2/'&%'P$&0%"'
5A/ +* "-;4"*9 $@,5"4"&' &'/:A/ ' 4','4"+'+$ 4%"'+*%' '&%'BA# +* ,*+$% +' /$-&$9 +'
"-&$5$4&2'5"+'+$'.*9*2
$/"2%.*9A&'/:A/2/4%"'+*%
/'.* &$/ $/ /)*#9 +"G$/ *# $@$.$&'# +* &'%V +$ '%#$5C'9 &*+'# '#
,*##":"5"+'+$#+$:*/6@"&*9<;#"4'#9B"&'"#$$#,"%"&2'"#M >9,Y=O5$
&*/''"-"4"'&"B'+','%&"+'$/+"%$()*E%$.$-$%'()*M9,YO4'%&'
82$ * %$,%$#$-&' A &%'+"4"*-'5/$-&$ 5".'+' E# ]^_ .%'-+$# "-#,"%'(I$#
M9,Y>O YM!9= =9,>Y>9&%'+2()*-*##'O
' -'%%'&"B' ' ,%$B"#)* +$#&' 4'%&' 4*%%$#,*-+$ :'#"4'/$-&$ '*# +*"# ,%"/$"%*#
4',;&25*#$##$,$%;*+*9*:"-#*-+3#$2#,%"/$"%*#,'##*#-'#2,$%<;4"$+'"5C'$#*:%$B"B$
+$/'-$"%',%$43%"'9#$/2/'/*%'+'<"@'$#$'5"/$-&'-+*$@452#"B'/$-&$+'82"5*82$5C$
4';' -'# /)*# ,0# * ,$%;*+* +$ "-'&"B"+'+$9 $/,%$$-+$%3 ' 4*-#&%2()* +* `B'#"*-9 2/
:'%4*82$4*-#&%0"-'$#,$%'-('+$4*-#$.2"%<2."%+'"5C'
'-
$R##$54C'/'''&$-()*,'%''*%+$/"52#0%"'$#&':$5$4"+'-*"-;4"*+'&%'P$&0%"'
+$*:"-#*-4%$+"&'-+*,%"/$"%*-'#2':%$B$#'5B'()*$+$,*"##$$-&%$.'-+*9#$/,$#'%
'#%$'"#,*##":"5"+'+$#+$#24$##*9E4*-#&%2()*+$2/-'B"*
' 9 !;- ; P$ ' . $2 - - . &'* ;- & ! 9% $ $-+ Z' $ --* $ --2
-#$--;%2&$;$& $2M9= X9,XO
>
Y
"$--9+$
"4&'$%'-(*"#$M$%42%$+$%'-4$9= ?O
$- * $ - <9%D$ $$ --* G$$ - &-$9 9$;*
G&#.!*'$-$&$--;2Q"*&2_JR-&-;$$'G9&$'-9%99$;2Q"*&2_LR
$!-&9$$G$$--$&&$'=>?-%&$;2Q"*&2_`R
M!9= =9,>Y>O
>
W=',;&25*
,%"/$"%'$&','+',%$,'%'()*+$2/-$0<"&*%2/*E<*%/'()*+$2/-*B*C*/$/A
' /*%&$ %"&2'5 $##$ &",* +$ ,%$,'%'()*9 $5$ A #$,'%'+* +* /$"* #*4"'5 $ ,*#&* $/ 2/'
#"&2'()* %$,5$&' +$ #*<%"/$-&*# */* 2/ -$0<"&*9 *:"-#*- A 5'-('+* <*%' +' #*4"$+'+$
4"B"5"G'+' E 82'5 ,$%&$-4$9 $/ 2/' &$%%' 4*-#"+$%'+' "-0#,"&' 4',;&25* ':2-+' $/
#;/:*5*# %$5'4"*-'+*# E /*%&$ '&/*#<$%' /*%&23%"' "/,%$.-'1#$ -* B*4':253%"*9 -'
+$#4%"()*+*#$#,'(*#$#;/:*5*#
'#$.2-+'5"-C'+*4',;&25*9*2%-"$%+"G82$*:"-#*-%$-''%$"','5'B%'
&$/* /$#/*#".-"<"4'+*82$P'G$%$/ ,*%&2.26###$B$%:*#".-"<"4'$#&'%+$"&'+*9/'#
&'/:A/ &$/ * #$-&"+* +$ $#&'% /*%&* *2 4*/* /*%&* -4*-&%'/1#$ '"-+' &$%/*# 4*/*
.$/$-&$9 /2&"5'+*#9 '-.Z#&"'9 '##2#&'+*%$# '2/$-&'-+* ' "/,%$##)* +' '&/*#<$%'
,$#'+'$<Z-$:%$$@,5*%'()*+'"5C'5$B'*:"-#*-'-*/$315'
A#*5'&"*--*/$B$/
#*/'%1#$'&*+'/*%:"+$G+*B*4':253%"*$+'+$#4%"()*+*$#,'(*
'/:"$-&$ +$#4%"&* %$##'5&' "/'.$-# <Z-$:%$# $"@$# $#&%",'+*#9 4%2#&34$*#
<%'&2%'+*# $ *# &%*-4*# /*%&*# $ ,2&%$#4$-&$# N M9 = X9 , =N1=W9 &%'+2()*
-*##'O#)*'5.2-#+*#$5$/$-&*#82$4*/,I$/*4$-3%"*+*,%"/$"%*4',;&25*#4'+3B$%$#
+'&%",25'()*+*"%."-"$','%$4$/4*/*"/'.$-#+$+$&$%"*%'()*$/'%&;%"*5$,$%4$:$2*
4'+3B$% +* /'%"-C$"%* +$ .2'%+'9 '"-+' P2-."+* '* 4':%$#&'-&$9 4*/* 2/ #2,5"4"'+* ' #$2
,*#&$ WM9= X9,Y9&%'+2()*-*##'O#':2&%$#9,3##'%*#82$#"/:*5"G'/'
,%$#$-('+'/*%&$9'4*/,'-C'/1-*'*-+$$5$B'"*,%"/$"%*#$%B"B*4*/*82'5*:"-#*-
#$+$,'%'92/:*+$9A/*%&*,*%$5$
$-4*-&%* 4*/ * :*+$ &$/ 2/' #".-"<"4'()* '5A/ +' #"/,5$# /*%&$ :*+$ A
+$#4%"&* 4*/* 2/ #$% +*&'+* +$ '&%":2&*# #"/"5'%$# '*# +$ 2/ /*-#&%* +'# $,*,$"'# -&$#
4*-<2-+"+*4*/4$,'+$3%B*%$9$5$&%'-#<*%/*21#$-',$-2/:%'B$%+$$/2/&",*+$:*+$
#$5B'.$/9 +$ ,$5* /2"&* 5*-.* X M9 = X9 , =X9 &%'+2()* -*##'O $.2-+*
'"55'%+M= >9,W9&%'+2()*-*##'O9A:'#&'-&$&$-&'+*%4*-#"+$%'%82$A4*/'/*%&$+*
N
&9'$9*$ $9$-$$$&$M9
= X9,=N1=WO
W
-&8$-'$-$!$*$6-$&-9$*&&-97
&$2M9= X9,YO
X
$ -&9'$$'%*&-$D-%2M9= X9
,=XO
Y
:*+$82$*:"-#*-'&"-.$*$#&'&2&*+$C$%0" ?'##'##"-'&*+$##$'-"/'5<'-&3#&"4*4*/
2/#0.*5,$+$#<$%"+*,"-&'1#$4*/*2/<$"&*C$%*"4*$$@'5&''#2,$%"*%"+'+$+**:"-#*-
4"B"5"G'+* #*:%$ * /2-+* #$5B'.$/ 5A/ +"##*9 *# +$#,*P*# +* '-"/'5 /*%&* 5$B'+* ,*%
*:"-#*-#"-'5"G'/*+"%$4"*-'/$-&*+$#2',%0,%"'#$@2'5"+'+$#0%.)*.$-"&'"#+*:*+$9
2/ +*# '%82A&",*# +' /'#425"-"+'+$9 <*%'/ 4*/"+*# ,$5*# ':2&%$# $ $##$ '-"/'5
K+$##$@2'5"G'+*L ,%$,'%' '##"/ * 5$"&*% N >
M
9
=
>9,X9.%"<*+*'2&*%9&%'+2()*-*##'O'&"-."+',$5*-32<%'.*
2&%' #".-"<"4'()* "/,5;4"&' -' /*%&$ +* :*+$ %$5'4"*-'1#$ "-&"/'/$-&$ ' /"&*#
4*#/*.V-"4*# / /2"&'# &%'+"(I$#9 * /2-+* #0 .'-C' $@"#&6-4"' ' ,'%&"% +' /*%&$ +$ 2/
/*-#&%*,%"/*%+"'59#"/:*5"G'-+**4'*#]^_9'&%'BA#+*#'4%"<;4"*+$2/.".'-&$40#/"4*
M
9=
9,?O$-$%."'5":$%'+',*%/$"*+$##'/*%&$9$-.$-+%'%"''$@"#&6-4"'+'#
*2&%'#4*"#'#
#*5982$/'"#&'%+$#"-'5"G'*',*.$2+$#2'$B*52()*9A'"-+'&$/"+*,*%*:"-#*-
5$%$4$'B'*#%'"*#+*#*5P3'5&*-*4A2=M9= X9,=W9&%'+2()*-*##'O
%$42#'$/$@,*%1#$'*#*5/'%4'%3&*+**,$%;*+*'-&$4$+$-&$E$@,5*#)*+'.%2&'$#"/:*5"G'
4$%&'# :'%%$"%'# ,#"4*50."4'# +$ *:"-#*- 82'-&* E #2' /$&'/*%<*#$9 '##"/ 4*/* '
"-4*/,5$&2+$+*,%*4$##*+$&%'-#<*%/'()*
#,%"/$"%'#$@,$%"6-4"'#9'#,%"/$"%'#B"B6-4"'#+',$%#*-'.$/-'#2,$%<;4"$+'"5C'
4*-+2G$/9$-&)*9$/#2'/'"*%,'%&$'*$#&3."*,%"/$"%*+'"-"4"'()*'%'*:"-#*-&*%-'%1
#$-*B*C*/$/A,%$4"#*'-&$#+$&2+*'.2'%+'%'/*%&$+*B$5C**:"-#*-#*-C*#$/
#*-C*# -* 82'5 *:"-#*- /$%.25C' ',*-&' /'"# 2/' B$G ,'%' ' #"/:*5*."' +' /*%&$ '-'5*."' $-&%$ * #*-* $ ' /*%&$ B$/ +$ /2"&* '-&$# +$ %"#&* ' #2' $*.*-"'9 $#;*+*
4C'/'1*#"%/)*#9<"5C*#+'*"&$
$&*+**/*+*9*$#&'+*+$"/*:"5"+'+$$"-4*-#4"6-4"'
,$%,$&%'+* ,$5* #*-* '##$/$5C'1* E /*%&$9 '5A/ +$ #2' 5".'()* 4*/ ' -*"&$9 #;/:*5* P3
<2-$#&*9,$5''2#6-4"'+$52G
2'-+* '&"-.$ * ,*-&* 425/"-'-&$ +' "5C'9 * -'%%'+*% -*# "-<*%/' +' 4C$.'+' +$
*:"-#*- -* 42/$ +* 4'*# ,'5'B%' 4'*#9 82$ $/ <%'-46# +$#".-' &'/:A/ 2/ &",* +$
'/*-&*'/$-&*%*4C*#*95$/:%''&*+'C*%''B*5&'+',$%#*-'.$/'2/&$/,*'-&$%"*%'*+'
4%"'()*
?
-$$$$9!;$'-$!D$$$#92
M
9= >9,WO
$ - G9<-9; && - -$7 - 2 M
9
= >9,X9.%"<*+*'2&*%O
=
-$$-.--967#$--M9= X9,=WO
N
4'/"-C*,$%4*%%"+*,$5',$%#*-'.$/,'%''+$-&%'%-$#&$4'*#,%"/"&"B*<*"*/'%
,%"/*%+"'5$#2,%$/*$-.*5"+*%A9#$/+ZB"+'9*/'%94*/**$-4'"@$"4&"*/0%<"4*-*15*
+$"@'B' ,%$##$-&"% ` * . <$/"-"G'+* $ /'&$%-* 82$ ,'%' -2/$%*#'# 425&2%'# A *
'%82A&",* +' +$#4"+' $ +* %$&*%-* E# <*-&$# *%"."-'"# +' <$5"4"+'+$ M
9 = X9 ,
NO +$ *2&%' /'-$"%' -)* ,*+$%"' #$ +'% $#&' ,%"/$"%' "-42%#)* +$ *:"-#*- -*# %"&*#
"-"4"3&"4*#9,*"#*,%"/$"%*$5$/$-&*82$%$.$'&%'P$&0%"'+',$%#*-'.$/A'3.2'$5$/$-&*
$-B*5B$ *:"-#*-9 * /'% $#&'B' ,*% &*+' ' ,'%&$== M9 = X9 , =?9 &%'+2()*
-*##'O$**:4$4'*5&'-+*'#4*#&'#*:#&"-'+'/$-&$E&$%%'9$5$&"-C'*5C*#',$-'#,'%''
#2,$%<;4"$':'25'+'$/$&35"4'+*/'%+$*-+$B"%"'5*.*'#'5B'()*=M9= X9
,=9&%'+2()*-*##'O
*% /'"# 82$ * /'% ,'%$(' "-4"&'%' "-'&"B"+'+$ +* C$%0" $' #2'%$#*52&' *:#&"-'()*
,$5' #'5B'()*9 $5$ <".2%' 4*/* $5$/$-&* <2-+'/$-&'5 +' &%'-#4$-+6-4"' # '524"-'(I$# +$
*:"-#*-#)*"/'.$-#82$'4"/'+$&2+*%$B$5'/2/4'%3&$%:$-A<"4*+*$5$/$-&*9',$#'%
+$ 4*-#"+$%'% #2'# '524"-'(I$# 4*/* <%2&* +$ 2/' /$-&$ P3 ':'5'+' $ "-#'-'9 B'5$ %$##'5&'%
82$5*-.$+$#$%*,%*+2&*+*%$4'54'/$-&*9]^_'"/'."-'()*A9,$5*4*-&%3%"*9*%".$/+$
2/'5":$%&'()*M
9=
X9,> O
5$ B"' -$5$ 2/' #2,$%<;4"$ +2%' $ $53#&"4' *-+$ +$,$-+$%"' ',$-'# +$5$ #$
P*.'%$#'5&'%
$,*"#"-+*/'"#5*-.$9$5$"/'."-*282$#$&%'&'B'+'#4*#&'#
+$ '5.2/ '-"/'5 <':25*#* 42P' 4':$(' +$B"' $-4*-&%'%1#$ +* *2&%* 5'+* +*
C*%"G*-&$ -<"/ 5C$ ,'%$4$2 +$ %$,$-&$ 82$ ' "5C'9 #$2# %*4C$+*#9 #2'#
<5*%$#&'#-)*$%'//'"#82$',35,$:%'$'#*:%'-4$5C'+$2/*5C*"/$-#*9
'G25 $ Z/"+*9 $#4%2&'-+* '# ,%*<2-+$G'# +* 4A2=> M9 = X9 ,
1>9&%'+2()*-*##'O
#'5&* A * ,%"/$"%* "/,25#* ,'%' * B**9 #;/:*5* +$ &%'-#4$-+6-4"' # 4*#&'# +*
'-"/'5+"'-&$+$*:"-#*-*<$%$4$/1#$,'%''/*-&'%"'F'%$,%$#$-&'()*+'B"'.$/-*+*%#*
+$ 2/ '-"/'5 <':25*#* A 4*/2/ -'# C"#&0%"'# +$ C$%0"# A -*%/'5 82$ * *5C*9 0%.)* +'
B"#)*9 #$P' '##*4"'+* '* *:P$&* +$5'9 *2 #$P'9 E 52G M
9 = X9 , =N=O 2 #$P'9'#
==
-9$$&$$M9= X9,=?O
=
"$-$9$7-$*-;'$;.<!&- 9$9$--!-
;C'$$T$--$2M9= X9,=O
=>
-'$-- $9-$!C-;$$!;7-;9-$2--$
&--*- %!;-;%$!-!- -<$-$:$'$$'-;$
T$9-;#F2 --&$$$7&!-;P-*#* :$;9$$!-&&D$-
-;Z-*-$#*$$-& -2M9= X9,1>O
W
"/'.$-#4%"'+'#,$5'"/'."-'()*+$*:"-#*-%$/$&$/'#;/:*5*#,*#"&"B*#94*-+2&*%$#,'%'
'&%'-#4$-+6-4"'9*C$%*;#/*$'"52/"-'()*
W',;&25*
#$.2-+* 4',;&25* 4*/,I$1#$ +'# <'#$# +$ 4*-#&%2()*9 <%'4'##* $ +$#"#&6-4"' +'
4*-#&%2()*+*:'%4*`B'#"*-"-<526-4"'+'3.2'94*/*#;/:*5*+$%$-*B'()*$,2%"<"4'()*
,$%/'-$4$$/+$#&'82$+2%'-&$',%*B'()*
,%*4$##* +$ 4*-#&%2()* +* `B'#"*-9 5$B'1* ' 2/' <'#$ +$ ,%$,'%'()*9 +$
<*%&'5$4"/$-&* $ '/'+2%$4"/$-&* -' #2' &%'P$&0%"' &%':'5C* "-4$##'-&$ $ +$ 4$%&' <*%/'
,%'G$%*#*9,$5'$@,$4&'&"B''5"/$-&'+',$5*-32<%'.*9',%*@"/'1*+*&$/,*4;45"4*#+"'#
#$ #*:%$,2-C'/9 &*+*# ".2'"#9 -' #2' /$/0%"'9 $5$ &"-C' * #$-&"/$-&* +$ %$4*/$('% ' 4'+'
/'-C)*+"''-&$%"*%=YM9= X9,X9&%'+2()*-*##'O
&%'-#<*%/'()*+*&$/,*'82"&*/'+*-*#+*"##$-&"+*#94%*-*50."4*$45"/3&"4*
,'%$4$ #$% %$#,*-#3B$5 ,*% 2/' $@,$%"6-4"' +$ <2-+'/$-&'5 "/,*%&J-4"' ,'%' *:"-#*- "-+$&$%/"-'()* +* &$/,* 4%*-*50."4* ]$5$ +"#,2-C' +$ 2/ &$/,* "-+$<"-"+*=N
M9= X9,X9&%'+2()*-*##'O_$'/2+'-('+*&$/,*/$&$%$*50."4*]:%2#4'#
,'-4'+'# +$ 4C2B' $ &%'(*# :%'-4*# -* C*%"G*-&$ '-2-4"'%'/ 2/' /2+'-(' +$ &$/,*=W
M9 = X9 , 9 &%'+2()* -*##'O_ 5$B'/1-* ' $-&%$.'%1#$ E $@,$%"6-4"' +' -2+$G
*:"-#*- 82"# ' ,%"-4;,"* ".-*%'% $##$ 4*-&%'&$/,* "/,%$B"#&*=X M9 = X9 ,
9 &%'+2()* -*##'O9 /'# ' "-&$-#"+'+$ +* 4*-&%'1&$/,* A /2"&* <*%&$ $ $5$ '4':' ,*%
%$-+$%1#$ ' $@,$%"6-4"' +$ %$.%$##)* #2.$%"+' %$&*%-* B"B"+* ,$5' ,$%#*-'.$/ 5"B%'1* +*
,$#*+'4"B"5"G'()*9'##"/4*/*+*,$#*/*5C'+*+$#2'#%*2,'#
$#,"+*9 *:"-#*- &$/ #2' '-"/'5"+'+$ '4$-&2'+' 5$ $#&3 +$#5".'+* +*# P2.*#
/*%'"# +' #*4"$+'+$ /*+$%-' $ $@,$%"/$-&' 2/ '4$##* +$ '5$.%"' $@&$-#)* +'
$@,$%"6-4"'+$,2%"<"4'()*+'3.2'4C2B'9-*$-&'-&*9A5"/"&'+'$-)*4*-&$/,5''"-+'2/
=Y
6&&$*$&-*9*$-'$-$$#!
$-69-'--2M9= X9,XO
=N
-&$;$&9 M9= X9,XO
=W
! ' $ $P9 -# 7 -;#F D$ #%$ $&2
M9= X9, O
=X
'-$;%$$&&9'M9= X9, O
X
':'-+*-* &*&'59 2/' K"/$%#)*L #2<"4"$-&$/$-&$ 4*/,5$&'=? M
9 = >9 , >>9
&%'+2()*-*##'O$.2-+*'"55'%+9$#&'"/$%#)*',$-'#%$'5"G'%1#$13-*$,"#0+"*+'--
"-+''##"/9'$@,$%"6-4"'+'4C2B','%$4$,%$-2-4"'%$#&'*2&%':%".'+*#*:'4*:$%&2%'
+$<*5C'#+$2/'3%B*%$*:"-#*-'.2'%+'B'*"-#&'-&$-*82'5'3.2'%*/,$##$$-<"/$*
"-2-+'##$ .*%' * #*5* &*%-'B'1#$ 4'+' B$G /'"# 5*+*#* #*: #$2# ,A# #$/ 82$ 2/' Z-"4'
.*&'+$3.2'&"B$##$'"-+'4';+*#*:%$#2'4':$('*2#$2#*/:%*#= M9= X9,
>9 &%'+2()* -*##'O '/:".2"+'+$"-$%$-&$ E ,%"/$"%' <%'#$ +$"@' ,%$B$% 82$ * '5B* +$#&'
"-2-+'()* A * ,%0,%"* *:"-#*-9 P3 $/ 4*-&'&* #2,$%<"4"'5 4*/ * $5$/$-&* C;:%"+*
%$,%$#$-&'+* ,$5' -- <"-'5 +' $@,$%"6-4"' +' -2+$G 4*/,5$&' ' $&',' "-"4"'5 +$ #2'
"-"4"'()* -<"/ *:"-#*- $@,$%"/$-&' ' /*%&$9 $5$ #$-&"21#$ ,$%$4$%== M9
= X9,>=9&%'+2()*-*##'O
$,*"#+'/*%&$9*-$0<"&*,%$4"#'%$.$-$%'%1#$'<"/+$-'#4$%+$-*B*-'%%'+*%
4*/,'%' *:"-#*- ' +)* $5$ A #$/$5C'-&$ '* ,%"/$"%* C*/$/ #*: E e%B*%$ +*
*-C$4"/$-&*982'-+*&*+''&$%%'$#&'B'/*5$$Z/"+''"-+'',0#'%$&"%'+'+'#3.2'#===
M9 = X9 , >=9 &%'+2()* -*##'O $ *:"-#*- A +)*9 ' "5C' '##2/$ * ,',$5 +$
P'%+"/+*`+$-952.'%"+$'5,'%''4%"'()*':2-+J-4"'+'<5*%'$+'<'2-'-''2#6-4"'+$
425&"B'+*%$#$,'#&*%$#9$"#*82$-*#%$/$&$'2//"&*+$"-&$/,*%'5"+'+$9$',%"-4;,"*'*
'%';#*:;:5"4*==M!9=
=9,=>W9&%'+2()*-*##'O
<%'4'##*+*`B'#"*-5$B'*:"-#*-,'%''----94*/*P3<*"+"&*9A2/
$#,'(* C;:%"+* *-+$ *# $5$/$-&*# $ *# %$"-*# +' -'&2%$G' #$ 4*-<2-+$/ -"/'59 B$.$&'5 $
/"-$%'5 4*/,'%&"5C'/ * /$#/* $#,'(* $ -)* #$ +"#&"-.2$/ 45'%'/$-&$ P'B'5"-'
4*-<2-+"'1#$"-&$"%'/$-&$4*/'5'/'$/#2'"/*:"5"+'+$B$.$&'5==>M9= X9,
>X9&%'+2()*-*##'O9*:"-#*-A2/'$#&3&2'+$5"/*$'*#,*24*#%$B$5'2/''&"&2+$/'"#
'-"/'5$#4'9#$/&%'(*+$C2/'-"+'+$
"-+$<"-"()*+'--%$/*-&''2/'<'#$+$"-+$<"-"()*+*,%0,%"*/2-+*982'-+*
'"-+'-)**4*%%$%''#$,'%'()*+'&$%%'$+'#3.2'#$'&A/$#/*9+*,%0,%"*4A2/2-+*
=?
$$-*G;&-D$M
9=
>9,>>O
=
;$$$7$$$$7!-;& $-;2--'$&-&-
%< & !; - %$$ ; - $ $9 - $:$ - 9&-2
M9= X9,>O
==
$$&92M9= X9,>=O
===
--&#-;-*!$$-$9$$--$#
&D-$$<2M9= X9,>=O
==
;- -$- -;-$'$$%*'-7!'7
.$#;$&-$9*$;-!M!9= =9,=>WO
==>
$$$7 $'--$9'9%9$-M9= X9,>XO
?
-*B*82$#$4%"'%3,'%'*:"-#*-'"-+'$#&3$/.$#&'()*9'##"/4*/**-*B*C*/$/*82'5
*:"-#*-&*%-'%1#$135"9$5$&$/5$/:%'-('#B"-+'#+$#$2,'##'+*9#"-'5$B"+$-&$+*4'%3&$%
%$.$-$%'+*%+'--94','G+$,V%$//'%4C'2/%$&*%-*+',$%#*-'.$/-*&$/,*
"/:*5"4'/$-&$9 ' -- A 2/ 5;82"+* '/-"0&"4* M* $,"#0+"* 4*/$(' ,$5'
$B*4'()*+$2/'P'B'5"-''5$"&'-+*#$2#<"5C*&$#O*-+$*C$%0"#$&*%-'2/'
4%"'-('9 $ /$#/* 2/ <$&*9 *2&%' <*%/' ,%"/"&"B' +* #$% $-&%$ ' B"+' $ '
/*%&$9'-&$#+*-'#4"/$-&*==YM
9= >9,>Y9&%'+2()*-*##'O
*:"-#*- ':'-+*-' ' -- /*B"+* ,*% 2/' '524"-'()* 4*/ 2/ :'%4* #'5B'+*%
$,*"#+$'&"%'%1#$'*/'%9$5$A$-.*5"+*/'"#2/'B$G,$5'#3.2'#$P*.'+*-'/$#/',%'"'
+* "-;4"* +' -'%%'&"B' $,"#0+"* /'%4' * /*/$-&* +$ 4*-#4"$-&"G'()* +$ *:"-#*- +'
-$4$##"+'+$+$':'-+*-'%#2':2#4'+$#$#,$%'+',$5*%$#.'&$9#$2',$.*$@'.$%'+*'*/'%
2/ 4"45* ,$%<$"&* *-+$ "-;4"* $ <"/ %$,$&$/1#$ $ #$ /$#45'/9 $-4$%%'1#$ ' <'#$ +$
,%$+*/"-J-4"'+'3.2'-'&%'P$&0%"'+$*:"-#*-
&%';+*,$5*<*.*+*$24'5",&*$/4C'/'#9'4$#*,'%''5$%&'%,*##;B$"##'5B'+*%$#9*
-'%%'+*%$B"+$-4"'*82$#$%3*<"-'5+'&%'P$&0%"'+$*:"-#*-#&$#"-'582$+$B"'B'%%$%*
*4$'-* $ '5$%&'% * %$#&* +' C2/'-"+'+$ -)* 4*-#$.2"%' '&%'"% /'"# 82$ $5$ ,%0,%"*9 ',$-'#
$5$==N M9 = X9 , Y9 &%'+2()* -*##'O %'9 +$ <'&* ' ',*&$*#$ +' $B*52()* +$
*:"-#*-9/'%4'+',$5*$5$/$-&*<*.*9%$#$%B'%1#$13'$5$#*/$-&$$-)*'&"-."%3*%$#&'-&$
+' C2/'-"+'+$ * <"-'5 +* 5"B%*9 ' &%",25'()* +* HC"&$:"%+ %$&"%'1#$ +' "5C' #$/ #*<%$%
','%$-&$/$-&$ 82'582$% "-<526-4"' +$5$9 '##"/ 4*/* *:"-#*- *,&' ,*% ,$%/'-$4$% 539
.2'%+'-+*9',$-'#,'%'#"9*#:$-$<;4"*#+$#2'$B*52()*
#&$ A 2/ +*# ,*-&*# $/ 82$ ' *:%' #2:B$%&$ $/ %$5'()* '* .6-$%* %*/'-4$ +$
<*%/'()*9 4*/* <*" &%'&'+* -' ,'%&$ +$#&$ &%':'5C* '-4'2+ MN9 , ?9 .%"<* -*##*9
&%'+2()*-*##'O%$'<"%/'*,',$5#*4"'5+*C$%0"+$*:%'#+$##$&",*
==Y
.-!$* - -- $ -! $! Q-;9& & -;9'$ ; -
--$$&$$RC-#9'$ $*' Z$*$ &$'-;:$$$$
'*'$-2M
9= >9,>YO
==N
%-!'$-.-;9$-$-$-;#$9;'$97$$!-:*
--29= X9,YO
*5*4'-+*$/4$-'':2#4'+$#$-&"+*$+$"+$-&"+'+$+$2/"-+"B;+2*,$5'
4*-<%*-&'()* 4*/ * /2-+* $ ' 25&%','##'.$/ +*# $%%*# $ "52#I$#
"-+"##*4"3B$"#+$&*+'$@,$%"6-4"'9$#&'<*%/'%*/'-$#4'&*4''##"/$/&%6#
82$#&I$#4$-&%'"#'82$5'+*#<'&*%$#82$+$&$%/"-'/'$B*52()*+*#2P$"&*9
'82$5'+$#2'#'/:"(I$#,%0,%"'#$$-<"/
:O%N
( . ,:A%%%%==W
*% *2&%* 5'+*9 * ,',$5 +' "5C' 4*/* 2-"B$%#* ,*%&'+*% +$ ,*&$-4"'5 <*%/'+*% A
%$<*%('+* "5C' $#&'B' '&%3# +$5$9 "/$-#' $ B"%.$/9 ,5$-' +$ ,%*/$##'# 5"/"&'+'# $ +$
5"(I$#'2#&$%'#==XM9= X9,Y9&%'+2()*-*##'O
<'#$ ,%$B"#&' ,*% '- $R##$5 4*%%$#,*-+$-&$ '* +$/"2%.* 4C$.' '* #$2 <"/ "-<526-4"'/'%4'+',$5*$5$/$-&*3.2'42/,%"2#$2,',$59*:"-#*-+$#"#&$+*/'%$B*5&'1#$
,'%'*"-&$%"*%+'&$%%'$+$#"/$#/*"%'-+*'#4*#&'#E'/,5"+)*9$5$$-&%'-C*21#$ -'#
%2;-'# #$/$'+'# +$ 4'%+*# ,%'&$'+*# 82$ 5$B'B'/ $/ +"%$()* '* 4$-&%* +' "5C'==?
M9 = X9 , Y9 &%'+2()* -*##'O %$<$%6-4"' '* 4$-&%* +' "5C' "-+"4' 82$ *
,%*4$##*+$4%"'()*$-<"/,*+$%3#$%,*#&*$/,%3&"4'*+''4%"'()*9#$.2-+**#,%"/"&"B*#9
#2%.$','%&"%+$2/4$-&%*95*4'5,%"/*%+"'5+$4*-#'.%'()*+'$@"#&6-4"'
D-;%
'%&$9 ,%*-2-4"*2 * 4',"&)* ,$82$-* +$/"2%.* *:&$B$ 2/' B"&0%"'
','%$-&$#*:%$'-'&2%$G'5$&%"2-<*2,$5'<*%('$"/,V#$/&*%-*+$5$2/'
*%+$/'#2'"/'.$/
]^_
/' *%+$/ ' #2' "/'.$/9 $5$ %$,$&"2 4*/ 2/ '% ,$-#'&"B* '+' /$5C*%
,'%' +$#B$-+'% ' '5/' +$ 2/ C*/$/ +* 82$ * "/'."-'% %$B$#&"+* +$ 2/
,*+$% ':#*52&* .%'('# '* 82'5 $5$ ,*+$ "/,*% #2' B*-&'+$ #$/ *:#&3425*
*:"-#*-1$"^]^_%$"-*+*82'5B*46#$%"'*#*:$%'-*'##$/$5C'%1#$1"'
' -*##*# .%'-+$# '%/3%"*# +*/A#&"4*# *-+$ '# /25C$%$# +$ -*##' 4'#'
==W
$$$ D - !:$ $ ;$$9 ; ' & - $$ ' - $ -
9&$$---$$<&9*$$ !$#7
$!$$-+-- $!9$$-;9'-$6$*--$&&
$ --$$-<!---$9$$$&!9$$9
$ $-!-;$2]M
9N9,?O
==X
;P-9$$D-*$'%*&-&-$9$-8$D2M9
= X9,YO
==?
"$-%-%*-; 8-9-9#;%$!$'
-$-;P-2M9= X9,YO
=
'%%2/'/ ,"5C'# +$ 5$-(0"# $ +$ &*'5C'# +$ /$#' "/'425'+'# $ ,$%<2/'+'#
4*/#'4C$#+$5'B'-+'== M9= X9,?1 9&%'+2()*-*##'O
#$.2-+'4'%&'82$*:"-#*-%$&"%'A'4'%&'4*-C$4"+'4*/*'%%*+$#4%"()*
"4*-*.%3<"4' +$"@' 45'%* #$% * '%4'-* #$&$ ' 4'%&' 82$ $#&"/25*2 *# 4*/$-&3%"*# +* 4',"&)*
'-
$R##$5B"'1#$9#2P*+$/'-4C'#+$.*%+2%'92/,$%#*-'.$/,*%&'-+*4*%*'$4$&%*$/
,A$/2/4'%%*,2@'+*,*%+*"#4*%4A"#=M9= X9,?9&%'+2()*-*##'O
'-
$R##$5%$5'4"*-''<".2%'+'4'%&'''%&$9*+$2#+'!2$%%''##*4"'()*$-&%$
*# +$2#$# .%$.*# $ '# <".2%'# %$,%$#$-&'+'# -'# 4'%&'# +* &'%V ,*% '- $R##$5 A <$"&' -'
/'"*% ,'%&$ +*# 4'#*# +$-&"<"4'+* * C*/$/ %$,%$#$-&'+* -$#&$ '%4'-* /'"*% 4*/* 2/
.2$%%$"%*A:'#&'-&$,5'2#;B$5''##*4"'()*
"/'.$/+*.2$%%$"%*+$#<"5'-+*$/#$24'%%*5$B'1-*#'"/'."-'%'B"&0%"'+*C$%0"9
,*%A/ ' "/'.$/ +*# +*"# 4*%4A"#9 %$,%$#$-&'+*# $/ '5.2-# &",*# +$ 4'%&'# 4*/ +"<$%$-&$#
4*%$#9 $/ *2&%*# ,'%$4$-+* +"%$4"*-'%1#$ ,'%' 5'+*# *,*#&*#9 ',*-&' ,'%' ' $@"#&6-4"' +$
<*%('#4*-&%'+"&0%"'#-$##$&%'P$&*
4*-&%'+"()* $@,%$##' ,$5' 4'%&' $@,%"/$ * $#,;%"&* <%'./$-&'+* +$ *:"-#*-
%':'5C'-+* '%+2'/$-&$ -* ,%*4$##* +$ 4"B"5"G'()* +' "5C' $ +' /'-2&$-()* +$ #2'
"-&$.%"+'+$/*%'59*:"-#*-'4%$+"&'"/,*%#2'B*-&'+$#*:%$'"5C'*%*2&%*5'+*9''&%'()*
+'--$*2&%'#$@,$%"6-4"'#+$B'5*%&%'-#4$-+$-&'5+*&'/'$#&'+"'$/,$%'-G'+$2/
$82"5;:%"*,'%'+*@'5
<%'./$-&'()*&'/:A/#$$@,%$##'$/2/'-*B'B*G-'%%'&"B'"-&%*+2G"+'-*&$@&*
-%M)9 +"3%"* ;-&"/* +$ *:"-#*-9 "-&$%4'5'+* E# "-&$%B$-(I$# +* -'%%'+*% $/ &$%4$"%'
,$##*'/'%4'*#2%."/$-&*$-<"/+$2/'-*B',$%#*-'5"+'+$9'"-+'"/'&2%'9+$#$-B*5B$-+*1
#$ -* C$%0" / -*B* C*/$/ 4*/$(' ' .$%'%1#$9 4*-#&%2"%1#$ -$##$ /*/$-&* <'#$ +$
/*%&$ 4*-452"21#$ $ '.*%' A ,%$4"#* '&"-."% * <"-'5 +$ 2/' .$#&'()* ,'%' +'% -'#4"/$-&* '*
"-"4"'+*
==
*&8M$M-2&$$9%&$9'$&&$-$2-$&#9&-
$&$-!$7%2
=>?
7'$%*9&9$M$M-;& 2$-&&-;X;#!-;%
':$ ; &' - %X !- - &$ & '-$9 $-2 M> =>? .$'F-'-$7%$!C- #F
%$ &- & && -9 $ & 9 & #$ -'2 M9= X9,?1 O
=
.'.$*--9$#%*&%&$$$&$$#$9
&<2M9= X9,?O
==
i2,$%/'- M=
N9 , =NO '5$%&' ,'%' *# ,$%".*# %$,%$#$-&'+*# ,*% $#&' 4'%&' '
"-<5'()*+*$.*F<'4"5/$-&$4'"$/2/"-+"B"+2'5"#/*9$/2/',%$#2-()*+*,*+$%+**.*#
#*:%$*"-#&"-&*9*2*"%%'4"*-'55A/+"##*9-'&%'P$&0%"'+*C$%0"C3#$/,%$/2"&'#,%*B'#
"/,*#&'#9#$-+*82$',%"/$"%'A%$#"#&"%E&$-&'()*+$+$#"#&"%+$#2'/$&',*%2/'%$4';+'
-* $-B*5B"/$-&* 4*/ * <$/"-"-*9 * "-#&"-&"B* ' /)$9 ' /25C$% #$+2&*%'9 2/ '-"/'59 $&4
Mi9= N9,=NO
` ,%$4"#* 5$/:%'%9 ,*%&'-&*9 82$ ' <'#$ &$5Z%"4' +$ *:"-#*- "-"4"'+' -*# ,%0@"/*#
4',;&25*#A/'%4'+',$5'"-4*%,*%'()*+$2/',$%#*-'5"+'+$<$/"-"-'E"5C'"5C'*<$%$4$
B3%"'# $@,$%"6-4"'# +$ B'5*% "/,%$#4"-+;B$5 -' #2' $B*52()*9 /'# $/ /2"&*# /*/$-&*#
','%$4$4*/*2/'B"'+$'4$##*'%%"#4'+',$%".*82$,*+$%$,%$#$-&'%2/'/25C$%,'%'
2/ C*/$/ ','%$4$ '&%'BA# +'# $@,$%"6-4"'# +$ *:"-#*- 4*/ #2' "5C' <$/"-"G'+'9 82$ $5$
4*-#"+$%' 4*/* /)$ *2 $#,*#' *# +*"# 4'#*#9 $5$ '%%"#4' &*%-'%1#$ #$2 ,%"#"*-$"%*==
M`9= ??9,WN9&%'+2()*-*##'O
W>=',;&25*
/,$+"+* +$ $#4','% +$ #2' #*5"+)*9 *:"-#*- '4%$+"&' 82$ ' Z-"4' /'-$"%' +$
#*:%$B"B$%-'"5C'#$%"'4"B"5"G'-+*1'$"/,*-+*15C$#$2+*/;-"* ,$%;*+*A/'%4'+* ,*%
2/' .%'-+$ <%'./$-&'()* +$ #2'# "+$"'# $ '(I$# "5C' '+/"-"#&%'+' $ ' *2&%' "5C'
4*/,$&$/,$5*/$#/*$#,'(*$*/$#/*C*/$/
"5C'.'-C'2/-*B*-*/$,$%'-G'$'+82"%$,$%#*-'5"+'+$<$/"-"-'.%'-+$
$/,%$$-+"/$-&* ,%$&$-+"+* ,*% *:"-#*- +$ 4"B"5"G'% ' "5C' ,'%$4$ &$% 6@"&* 4*/ '
+*/$#&"4'()* +*# '-"/'"#9 '# 5'B*2%'# $ &*+*# *# &%':'5C*# %$'5"G'+*# *% *2&%* 5'+*9 2/'
<*%('4*-&%3%"'5$B'*:"-#*-+$B*5&'E--9,$%/"&"-+*#$2%$&*%-*'*2-"B$%#*"-<'-&"5
#%$'5"G'(I$#+$*:"-#*-$/:2#4'+$%'4"*-'5"G'()*$#&)*#$/,%$<'+'+'#'#*<%$%
"-<526-4"'#4*-&%'+"&0%"'#4'#'+$*:"-#*-A$+"<"4'+'+"'-&$+'.%2&'9-*4$-&%*+'"5C'9
*2#$P'9*$#,'(*,%"/"&"B*+'.%2&''5"4$%('2/'$#&%2&2%'','%$-&$/$-&$4"B"5"G'+''#$##'
4*-#&%2()* &'/:A/ %$##'5&' ' ,%$+*/"-J-4"' +' *%+$/ 4"B"5"G'+' "/,*#&' ,*% *:"-#*- '*
'/:"$-&$#$5B'.$/
==
&9- ! &$ &9$ & # &&P$ 7 $' - <&9 'P- 99*!;--DD9&2-<*-!;$
&2M`9= ??9,WNO
=
*"#$#&'4'#'4*-#&%2;+'=&*/'2/#"-.25'%B'5*%#"/:05"4*
*+'4"B"5"G'()*9&*/'-+**,'##*#*:%$'*%+$/,%"/"&"B'%$,%$#$-&'+',$5'
.%2&'9 * 52.'% -'&2%'5 ,*% $@4$56-4"' ` -*&3B$5 B$% ' 82$ ,*-&* ' *%+$/
-'&2%'5 M*2 * '5$'&0%"*O 4$+$2 52.'% '&A #$% /*+"<"4'+* ' 2/' *%+$/
:'#&'-&$+"<$%$-&$9"/,*#&',*%*:"-#*-=M
9= >9,Y9.%"<*
+*'2&*%9&%'+2()*-*##'O
<$&"B'/$-&$9 * ,$%;*+* +$ 4"B"5"G'()* +' "5C' ',%$#$-&' .%'-+$# +"<"425+'+$# $
,%*B'(I$# ,'%' *:"-#*- 5$ -)* 4C$.*2 '<"-'5 '* 4$-&%* ,%"/*%+"'5 +' "5C'9 /'# $#&3 '
4'/"-C* '5$ ' ,$-' %$5$/:%'% ' *:#$%B'()* +$ 5"'+$ M=
9 , XO #*:%$ * ,$%42%#* 82$
4*-+2G '* 4$-&%* $#&%'+'A 3%+2'9 %$,5$&' +$ ,$%".*#9 ,*%82$9 -' B$%+'+$ %$,%$#$-&' 2/
%"&2'5+$,'##'.$/+*J/:"&*,%*<'-*,'%'*#'.%'+*9+*$<6/$%*$"52#0%"*,'%''%$'5"+'+$$
'$&$%-"+'+$9+'/*%&$,'%''B"+'9+*C*/$/,'%''+"B"-+'+$
*+* * &%':'5C* %$'5"G'+* $ &*+* * '4*-&$4"/$-&* "-&$%<$%$-&$ -' *%+$/ +' "5C'
'+/"-"#&%'+'','%$4$/4*/*'#,%*B'#82$*C$%0"+$B$#2,$%'%,'%''&"-."%#2'/$&'<"-'5
)* #$ ,'##'B' 2/ +"' #$/ 82$ '5.2/ "-4"+$-&$ #2%,%$$-+$-&$ *2 #"-"#&%* %$'B"B'##$ '
'.*-"'82$-'#4$%'-$5$-*"-#&'-&$82'-+*9&$-+*4*/,%$$-+"+*82$$%'*Z-"4*#*:%$B"B$-&$
+*-'2<%3."*9#$-&"%'1#$0%<)*+'C2/'-"+'+$=>M9= X9,YX9&%'+2()*-*##'O
'%'5$5'/$-&$'&'"#'4*-&$4"/$-&*#9#2%.$*-%M)&$%/*"-.56#A2&"5"G'+*,'%'
+$#".-'%*+"3%"**-+$#)*%$."#&%'+*#*#'4*-&$4"/$-&*#+2%'-&$2/'B"'.$//'%;&"/'92/
+"3%"*+$:*%+*%$."#&%*<$"&*,*%*:"-#*-+$#4%$B$'#2'B"'.$/"-"4"3&"4'
$#+$ $-&)* $5$ ':%"2 82'#$ &*+*# *# +"'# #$2 -%M) ,'%' -$5$ %$."#&%'%9
-)**#$B$-&*#,$82$-*#$.%'-+$#+$#2'B"+'/'&$%"'5"#&*-)*"/,*%&'B'
9 /'# #2'# /$+"&'(I$#9 ' $B*52()* +$ #2' B"+' "-&$%"*%9 *2 '"-+' '#
5$/:%'-('#82$B*5&'B'/+$#$2,'##'+*$'#%$<5$@I$#82$$5'#"-#,"%'B'/1
5C$=YM9= X9,YN9&%'+2()*-*##'O
=
$$ X$ & %-D '- .-!+ -- - '-$*
&$-&-;&$ &9$9&-%$$*--G$-;&<--2-$!-
' 7 !- &$ -; $- Q -;-9$R 99 - &- U 6!;7 :$ 9 U 7 $$
9$*&9&2M
9= >9,Y9.%"<*+*'2&*%O
=>
-&$&6!!-!$&$$''-;%!9$$9
-7-4$$C*.$&!;-9$--''$ %*-;9$$$&#--;#$92
M9= X9,YXO
=Y
D--'$&!#!6-%M)&.%*-9'9$&$$$%
' $9-- U - ; '$ U* 9$$* -;9'-$ ' $9* -
'!-'$&9$-9 -<!;--&$2M9= X9,YNO
=>
$#4%"&'+*-%M)A<$"&'$/2/&",*+$,'5"/,#$#&*F*#5"B%*#5'B'+*#,$5'3.2'
+*/'%#)*%$$#4%"&*#4*/'&"-&'B$%/$5C'%$&"%'+'+$2/,$"@$982$4*%%$#,*-+$/'"#E4*%
2&"5"G'+' ,'%' 4*%%"."% 82$ ,'%' $#4%$B$% 2/ &$@&* -*%/'5=N M
9 =
>9 , Y=9
&%'+2()* -*##'O9 /'%4'-+* ' %$.$-$%'()* -' B"+' +* ,%*&'.*-"#&' '5 $#4%"&' %$'<"%/' '
-$4$##"+'+$ +$ ',%"/*%'% * ,'##'+*9 %$$#4%$B$-+*1* 4*/* <$G * ,%0,%"* *2%-"$% $/
%$5'()*'*5"B%*+$
$<*$
2'-+* A 5$B'+* +$ B*5&' E --9 *:"-#*- ,*+$ %$&*%-'% '* ,'##'+* $ ':*5"% *
&$/,* 4%*-*50."4* 5"9 * &$/,* $ * $#,'(* +"##*5B"'/1#$9 +'-+* 52.'% ' 2/' '&"B"+'+$
/-$/V-"4' "-&$-#' '<"%/'()* +$ *:"-#*- $/ #$2 -%M) #*:%$B"B$% A /*%%$% %$##'5&'*4'%3&$%/3."4*+'/*%&$$/#2'"-"4"'()*#,'5'B%'#+"&'#,*%*:"-#*-4*/&*+'
4'%.'-$.'&"B'82$5C$#,*+$#$%'&%":2;+'94C'/'''&$-()*9,*%*2&%*5'+*9,'%'2/4'%3&$%
<2-+'/$-&'5 +$ #2' &%'P$&0%"' "-"4"3&"4'9 -' 82'5 ' Z-"4' <*%/' +$ #*:%$B"B$% A ,'##'% ,$5'
/*%&$%$,$&"+'#B$G$#
<%$826-4"' +'# 5$/:%'-('# +$ *:"-#*- '2/$-&' .%'+'&"B'/$-&$ -* 2-"B$%#* +'
"5C' '+' B$G /'"#9 $5$ ,*+$ $@,$%"/$-&'% ' %$.%$##)* '&A ' "-<J-4"' $ "% %$/*+$5'-+* *
*:"-#*-'+25&*/'%4'+$#$2,%0,%"*,A"/,%$##*-'%*4C'%$B$5''*5$"&*%82$*&$/,*
-'"5C'-)*#$.2$*#,'%J/$&%*#+*/2-+*/*+$%-*/<0##"5+$##$&",*+$/*%'%"'/"5C'%$#
+$'-*#,'%'<*%/'%1#$
-&%$&'-&*9#$,*%2/5'+**&$/,*-'"5C''54'-('2/'+"<$%$-&$+"/$-#)*9<*%'+*
/2-+* %$'5 $ 4*-C$4"+*9 +$ *2&%* 5'+*9 *:"-#*- 52&' ,'%' /'-&$% 2/' 4*-&'.$/ $@'&' +*
&$/,*94*-&%'%"'-+*'#$@,$%"6-4"'#+$'-25'()*+*&$/,*'%'"##*9$5$4*-#&%0"2/%$50."*
+$3.2'92/'45$,#"+%'9'<"/+$#2:P2.315*&'/:A/E#2'*:#$##)*+$+*/$#&"4'()*+'"5C'
2'-+*$5$$#42&'B'+$+"'*2E-*"&$*:'%25C*%$.25'%+'#.*&'#4'"-+*
-':'4"'9&"-C'*#$-&"/$-&**%.25C*#*+$82$*&$/,*-)*/'"#&%'-#4*%%"''
+$#,$"&*+$#2'B*-&'+$$/2/':"#/**:#42%*9/'#82$$5$#$$-4*-&%'B'
+'5" $/ +"'-&$ %$.25'%"G'+*9 +*/"-'+*9 $/ %$#2/*9 +*/$#&"4'+* &'/:A/9
4*/*&*+''"5C'"'&*%-'%1#$9,*24*',*24*9,$5'<*%('+$$#,;%"&*+$2/#0
C*/$/=WM9= X9,WW1WX9&%'+2()*-*##'O
=N
! & &- 7 - - $-9 & % ! & 9 $<$ -2 M
9
= >9,Y=O
=W
!;- $$ U - 6 - $ U - $ 9%- %$$ $$ - * - '$ -
$$ %--< ! - $& %-$ &- -%9 - P * !;- $'$
99%-9*P$9* $!9-*$$-;P---$-'*&7&*&-
;X;--;#2M9= X9,WW1WXO
=Y
4',;&25* %$##'5&' &'/:A/ ' 4%$#4$-&$ C$%*"4"+'+$ +$ *:"-#*- 2/ ,%"/$"%*
$,"#0+"*9$5$ 4*-<%*-&'1#$ 4*/ 2/ ,$82$-* 4'%'-.2$P*5*24'/$-&$ &$/$%3%"* 82$ +"%"."' '
$5$ #2'# +2'# ,"-('# +$#".2'"#9 4*/* 2/ $#,'+'4C"/ #$2 .53+"* $ #2' $#,'+'=X
M9 = X9 ,NW9 &%'+2()* -*##'O .53+"*$ ' $#,'+' #)* #;/:*5*# '&%":2;+*# '*
C$%0"9 4*/ <*%&$ 4*-*&'()* /'#425"-'9 $ 82$ +$-*&'/ ' B"%"5"+'+$ / *2&%' *4'#")* A *
,%0,%"* *:"-#*- 82$ /2-"+* +$ 2/' 5J/"-' '<"'+' +2%'-&$ ' 4$"<' $/,%$$-+$ 2/'
B$%+'+$"%':'&'5C'4*-&%''#,5'-&'(I$#,%'+*$%'2/'/'##''82'5$%'-$4$##3%"*'&'4'%9
$-&'5C'%9%$+2G"% /$&*+"4'/$-&$ ."%'-+* $/ B*5&' ,'##* ' ,'##*=? M9 = X9 ,
N 9&%'+2()*-*##'O
,$#'%+*#'%%*2:*#%$,$-&"-*#+$#$2$#,;%"&*9*:"-#*-,'%$4$4*-#$.2"%+*/"-'%'
"5C'9,%*+2G"-+*$'42/25'-+*4)*$--9'4*/,'-C'-&$+'&%",25'()*+*-'B"*9%$','%$4$
,'%' *:"-#*- $ /'%4' &*+* * ,$%;*+* +' *%+$/ +' "5C' '+/"-"#&%'+' $-+* +'5" $/
+"'-&$,*%4*/,'-C$"%**/'"#%3%+*#'-"/'"#9$5$&"-C'*+$B$%+$#$4*-#&%2"%2/'
4'#'9 &)* ,%*<2-+' A E# B$G$# ' #':$+*%"' 82$ $-4*:%$ 2/ #"/,5$# ,'%$-&$#4* B$%:'5= M9 = X9 , WN9 .%"<* +* '2&*%9 &%'+2()* -*##'O ,'%$-&$#4* B$%:'5 '* 82'5 *
-'%%'+*%#$%$<$%$A'82$5$+$#&'4'+*,*%'"55'%+M=
>9,Y9&%'+2()*-*##'O'4'#'A,*%
$@4$56-4"'+*/A#&"4'M$/5'&"/#".-"<"4'K'4'#'L9K'C':"&'()*LO=>
W>',;&25*
C2/*% A 2/' +'# /'%4'# /'"# <*%&$# -* "-;4"* +* 4',;&25* &"-."-+* * ,*-&*
425/"-'-&$ +$ #2' #$+$ ,*% 4"B"5"G'()*9 *:"-#*- $#&':$5$4$ 2/ 40+".* ,$-'5 $ 2/'
4*-#&"&2"()*,'%''"5C'9+'82'5#$-*/$"'.*B$%-'+*%'"55'%+M=
>9,YW9&%'+2()*-*##'O
45'##"<"4' $#&' ,'%&$ 4*/* 2/ ,'#&"4C$ +* $#&"5* '+/"-"#&%'&"B*9 $ '* /$#/* &$/,* 2/'
=X
&$$ --$$99!$'-<&9%-*&%-'
$9&9M9= X9,NWO
=?
&9$$!;- --$$$!*$*99$#!$$$$&7
&2M9= X9,N O
=
.$9&&%-&-
<*-'$$*
& $& -%!'&-&$9'-2M9= X9,WN9.%"<*+*
'2&*%O
=>
- $ & <-- $! Q+*/2# -$ % G- ;* G- -%;R M
9
= >9,YO
=N
,'%0+"'K"4*-*45'#&'L+*#+*42/$-&*##*:%$*#82'"#%$,*2#'/*5$."#5'&"B*$*$@$42&"B*=>=
%"+;425*$'"%*-"'+'4$-'',%$#$-&'/1#$4*/*4%;&"4'E:2%*4%'4"'+'#*4"$+'+$:2%.2$#'
$@'&"+)* +' %$+'()* +*# +*42/$-&*# A /"-'+' P3 +$ "-;4"* ,$5* <'&* +$ %$+"."15*# #*: '
%$.6-4"'+$2''P$#&'+$!$*%.$9$-&)*P3/*%&*
2'-&* '*# 4'#&".*# ,%$B"#&*# -* 40+".* ,$-'5 $@,*#"()* '* #*5 -'# C*%'# /'"#
82$-&$# +* +"' $ P$P2/ %$B$5'/1#$ 4*/* $@,$%"6-4"'# -$4$##3%"'# E $B*52()* +* -$0<"&*9
/'"#+*82$4*/*,2-"(I$#*,%"/$"%*4'#*9$/4*-#"+$%'()*'*4'%3&$%:$-A<"4*'##2/"+*
,$5*#*5-'B"+'+$*:"-#*-$9-*#$.2-+*4'#*9,$5*B'5*%$#,"%"&2'5+*P$P2/-*#%"&*#+$
"-"4"'()*P$P2/#".-"<"4'2/+$#5".'/$-&*92/'':+"4'()*+*/2-+*/'&$%"'5$/,%*B$"&*
+*$#,"%"&2'5$9,*%&'-&*9"-#&%2/$-&*,%$,'%'&0%"*,'%''&%'-#4$-+6-4"'
&%':'5C*+$%$+'()*A"-&$%%*/,"+*,$5',%$#$-('+$"-+;.$-'#-'"5C'*,$%4$:$%
-*4A2'<2/'('B"-+'+*#4*%,*#C2/'-*#4'%:*-"G'+*#-*%"&2'5+$4'-":'5"#/*9*:"-#*-
"/'."-'#$%*,%0,%"*#,;%"&*'-&*/'-"<$#&'-+*1#$4*/*2/'4*52-'+$<2/'('#2:"-+*
+"%$&'/$-&$$/+"%$()*'*G6-"&$=> M9 = X9 , XY9 &%'+2()*-*##'O $,*"# +$
4*-#&'&'+''B$%+'+$"%'*%".$/+'<2/'('9*:"-#*-+$4"+$&%'-#<*%/'%*$#,'(*+'"5C'$/
B*5&'+$#2'4'#'$/2/'<*%&'5$G'
#&' #$826-4"' +$ '4*-&$4"/$-&*# &$/ 2/ #".-"<"4'+* "/,5;4"&* '##*4"'()* +'
<2/'(' +* #'4%"<;4"* '* #,;%"&* '-&* '+82"%$ 2/ #$-&"+* 4*-4%$&* ',0# ' 4C$.'+' +$
$-+%$+" '%'24'-* %$,%$#$-&' ' $-$%."' $#,"%"&2'5 82$ "%3 .2"'% *:"-#*- %2/* E #2'
$B*52()*9 $5$ A * #,;%"&* '-&* 82$ ,'%&$ +' ';' +' '5B'()* $/ +"%$()* '* -32<%'.*
5A/ +"##*9 '/:*# #)* "+$-&"<"4'+*# 4*/ * $5$/$-&* '% *% #2' B$G9 '# :'%%$"%'# $
<*%&"<"4'(I$#"/,5'-&'+'#,'%',%*&$.$%1#$+*#'%'24'-*##"/:*5"G'/'#:'%%$"%'#,#"4*50."4'#
+*C$%0"4*-&%''"-<526-4"'+$$-+%$+"#<*%&"<"4'(I$#+'"5C'#)*'/$&3<*%'+'#+$<$#'#
,#;82"4'#+$*:"-#*-=>>M
9=
=9, N9&%'+2()*-*##'O
$@,$%"6-4"'+','-"<"4'()*B"B"+',*%*:"-#*-5$B'1*+$B*5&'E"-<J-4"'/'"#2/'
B$G $ %$##'5&' * 4'%3&$% 4*-&%'+"&0%"* +$ &*+' ' '()* 4*-#"+$%'+' ,*%&'+*%' +$ 2/ B'5*%
4"B"5"G'+*%9,*"#$-.$-+%'2/%$&*%-*'*,'##'+*'&%'BA#+$#2'#/$/0%"'#$',*##":"5"+'+$
+$ %$-*B'()* $ %$$#&%2&2%'()* 5$/:%'-(' +* %$#,"%'+*2%* *-+$ * ,'+$"%* /'-2#$'B' '
/'##' A 2/ ,%$-Z-4"* +' .%2&' *% #$2 4'%3&$% &$5Z%"4* * %$#,"%'+*2%* '##$/$5C'1#$ E
=>=
&$#$.-$$ *:$&!;&G-$;$-!-
&$--9%-$ $-;<9$ 2M
9= >9,YWO
=>
- 9$$$$$'-F9$#M9= X9,XYO
=>>
$ $-;P-$-9$&#9 &.#!2M
9=
=9, NO
=W
.%2&'=>YM
9=
>9,Y?9&%'+2()*-*##'O/*5+'.$/+'/'##'&%'-#/2&'%1#$13
-'/*5+'.$/+*,%0,%"**:"-#*--*4$-&%*+'&$%%'
##"/9,'%'*:"-#*-9'*%.'-"G'()*<%$-A&"4'+'"5C'"'4*-P2-&'/$-&$4*/*5"B%$$
' ,%"-4;,"* &;/"+* +$#':%*4C'% +$ &$-+6-4"'# #$/"1"-4*-#4"$-&$#=>N M9 = X9 ,
?9 &%'+2()* -*##'O -%M) #$%B$ 4*/* 2/ 4*-&%',$#* ,'%' &*+* * &%':'5C* %$'5"G'+*
4$.'/$-&$ 4*-C$4"/$-&* /"-24"*#* +* $#,'(* +' "5C' A ,'%'5$5* '* 4*-C$4"/$-&* +$ #"
,%0,%"* *:"-#*- 4*-#$.2$ B"#52/:%'% 2/ *2&%* $2 82$ .'-C' $@"#&6-4"' ,$5* '&*
#'.%'+*+'$#4%"&'5$#$-&$$$@,%$##'$/#$2+"3%"*'"-4$%&$G'+$#2'*:%'4"B"5"G'+*%'$'
$##6-4"'<%3."5+'$#&%2&2%'$+"<"4'+'F*4'/"-C*$#4*5C"+*,*%*:"-#*-$#&3%$,5$&*+$2/'
%'4"*-'5"+'+$82$-)*#$'+$82'E%'4"*-'5"+'+$+'"5C'
/#$2-%M)9*:"-#*-%$<5$&$#*:%$'#*5"+)*$'"/'."-'4*/*#$2+$#&"-*#&3
45'%*82$P'/'"#$5$B*5&'%"''#$'+',&'%EB"+'$/4*/2-"+'+$2'#$-#":"5"+'+$$/%$5'()*
'* *2&%* #*<%$2 2/ '2/$-&* ,*&$-4"'5"G'+*%9 +$#,"+' +$ #2' 4','4"+'+$ +$ &*5$%J-4"' '%/'+2%' +$ "-+"<$%$-(' $ +$ ".-*%J-4"' %$4;,%*4'# 4*/ ' 82'5 *# C*/$-# #$ ,%*&$.$/ $/
#2'# %$5'(I$# +$#','%$4$%'9 4*/* 2/ 4'5* ,%*<2-+* ,*24* ' ,*24* $/ 2/' /)* &*%-'+'
*4"*#'=>W M9 = X9 , ?W9 &%'+2()* -*##'O ,'##'.$/ %$,*%&' '* /"&*+* :*/
#$5B'.$/4*/,'%'()*4*/2/4'5*-*#5$/:%'82$A*4*-&'&*+"%$&*$4*-#&'-&$4*/'
#*4"$+'+$82$<'G+*C*/$/#*4"'5*82$$5$A
2&%*# $,"#0+"*# +* 4',;&25* 4*-&%":2$/ ,'%' * +$#$-B*5B"/$-&* +* C$%0" :'&'5C' 4*-#2/'+' $-&%$ +2'# +"<$%$-&$# $#,A4"$# +$ %'&*# A 2/ +$5$# $ 2/ 5'+*9 2/
:'&'5C)*,%*B$-"$-&$+*-'B"*82$'5"#$/25&",5"4*29+$*2&%*9*#%'&*#'2&04&*-$#B"&0%"'
'%%$:'&'+*%' +*# #$.2-+*# &$/ 2/ +$#<$4C* 0:B"*9 82$ /'"# &'%+$ +$B$%3 ',5"4'%1#$ E
&%'P$&0%"'+*,%0,%"**:"-#*-2/'-"/'582$4*/:'&$-*&$%%"&0%"*+$#$2'+B$%#3%"*&$/
#$/,%$ +$#B'-&'.$/=>X M9 = X9 , ?X9 &%'+2()* -*##'O $##' <*%/'9 4*/*
,*+$%"' *:"-#*- #*G"-C* 52&'% 4*-&%' ' *%+$/ -'&2%'5 +' "5C' $ B$-4$%b +$#<$4C* '82"
&'/:A/A,%$B"#;B$5
,'%'+' "-$#,$%'+' +' 45$,#"+%' "-+"4' ' *:"-#*- ' ,*##":"5"+'+$ +$ +*/"-'% *
&$/,*+$2/'/'-$"%'4*/,5$&'/$-&$+"<$%$-&$"-&$%%*/,$-+*#$242%#*Z5&"/'.*&'82$
=>Y
$D$--!-&-&&#-%$$2M
9= >9,Y?O
=>N
* & * -;%$ 99$! -;P- --$ & ' - - $ ; $
9&$$7$2M9= X9,?O
=>W
; 9$;%9&!$-#&$D%$-&&$$
<'$&*- &7&''2M9= X9,?WO
=>X
-!$-$$'$6-2M9= X9,?XO
=X
C$#"&'$/4'"%$%$&*%-','%'*.'%%'<)*A*#"-'5+$2/',*##":"5"+'+$'"-+'/'"#<'-&3#&"4'9
+$<'G$%B*5&'%*&$/,*
*/"-'+*,$5*6@&'#$9*:"-#*-$-@$%.'*2&%'#,*##":"5"+'+$#
"%1#$1"'82$4$##'-+*+$%$,$-&$+$"-45"-'%1#$2/'#$/+"%$()*E#*2&%'#
-*#$-&"+*+$#$22#*$+$#2'2#2%''#4*"#'#%$4';%'/4'+'2/'$/#2'
$##6-4"'9 $#&$-+$-+* &*+*# #$2# '&%":2&*#9 $@"#&"-+* ,*% $5'# /$#/'#9
"-*4$-&$/$-&$9 #$/ :2#4'% *2&%' P2#&"<"4'()* '5A/ +$ #2' ,%0,%"'
#'&"#<'()*=>?M9= X9, Y9&%'+2()*-*##'O
$5',%"/$"%'B$G9$5$,%$##$-&$'*2&%'"5C'$+$#4*:%$82$A,*##;B$5#$/
+$4'"% ]^_ -+"#42&"B$5/$-&$9 $5$ '4':'B' +$ &%'-#,*% 2/ -;B$5 -' /$&'/*%<*#$ 82$
&%':'5C'B'*/'"##$4%$&*+$5$/$#/*=> M9= X9, Y9.%"<*+*'2&*%9&%'+2()*
-*##'O
D-<!
*46+31/$*$!2$%%$"%*&*/*24*-#4"6-4"'+$#2'#*5"+)*5$
%$&"%*21#$-*<2-+*+$2/'.%2&','%'53%$$-4*-&%'%#2'<*-&$*%"."-'5'#
$-<"'-+*1#$'##"/-*#$"*+'&$%%'94*/,5$&'-+*$#&'B"'.$/'*<2-+*+$#"
,%0,%"*9 &*%-*21#$ 2/ *2&%* C*/$/ $ $5$ #'"% '5.2/ +"' +$##$ %$&"%*9
,$%4$:$%382$#2''5/'/*-*5;&"4'#*<%$2;-&"/'#<"##2%'#=YM9
= X9,?1 9&%'+2()*-*##'O
%$/"&' A * -*-* '%4'-* +* &'%V $ %$,%$#$-&' * "#*5'/$-&*9 * %$&"%* $/ :2#4' +*
4*-C$4"/$-&* -' &%'P$&0%"' +* "-"4"'+* "/'.$/ %$,%$#$-&'+' A ' +$ 2/ B$5C* 42%B'+*9
',*"'+*$/2/:*%+)*9#;/:*5*+',%2+6-4"'94*/2/'5'-&$%-'-'/)*52G+'5'-&$%-'9
=>?
$$!$;--'-$--%U$
-U-#9$$$9#*9&$$-$$$*<$$
& --M:* \'$* ## ;$ 6$ $ ! - && $ $2 M9
= X9, YO
=>
- 9$$ &- 4C'-.$% 9#2 =>? $-$ - '$ %' %9 -
9$&#!$'--$-&-$-M:2M9= X9, YO
=Y
F-;$%/"&$2/&-$2-;$$9 ;%$$
&.$'%--2; 8$-$*&-$'.%
-M:*-$'$#2;-$6$$$$*-;&'!X
-$#!;$ 2M9= X9,?1 O
=?
#$/+ZB"+'9%$$-B"''*##;/:*5*#+*4*-C$4"/$-&*$+'"-&$5".6-4"'94*/*P3<*"+"#42&"+*-'
,'%&$
"#*5'/$-&* +2%'-&$ * ,$%;*+* +$ %$&"%* -* "-&$%"*% +' .%2&' A9 #$/ +ZB"+'9
<2-+'/$-&'5 -' '82"#"()* +$ 4*-C$4"/$-&* # &%6# "-&$%B$-(I$# +* -%M) ,%$#$-&$# -*
4',;&25* '4$-&2'/ 2/ 4%$#4$-+* -* $-&$-+"/$-&* +' %$'5"+'+$ ,$5* C$%0"F $/ #2'#
,%"/$"%'#"-42%#I$#-*"-&$%"*%+$,$%'-G'$5$$#&3'##*/:%'+*,$5'+ZB"+'#&'+$#4"+'$
$#&'$#&'+"'+$-&%*+*#$"*+$,$%'-G'9$#&*2'"-+':$/5*-.$+$,*+$%',%$4"'%+$5'#*%$'5
B'5*%=Y=M9= X9,==9&%'+2()*-*##'OF+$,*"#'&"-.$'4*/,%$$-#)*+$'5.*
4'2#'$#&3$-&$-+"+'=YM9= X9,==>9&%'+2()*-*##'OF$9,*%<"/9,'##'+*
' #2' <'#$ +$ "#*5'/$-&* 2/' 4$%&$G' #*:%$ 2/' 82$#&)* <%$82$-&$ $/ #2'# %$<5$@I$# $"
'.*%'82$#$',%$#$-('+$*2&%*A2/$5$/$-&*<2-+'/$-&'5+*"-+"B;+2*C2/'-*9-)*A,*%
"##*"-#2:#&"&2;B$5=Y>M9= X9,==W9&%'+2()*-*##'O
WY=',;&25*
"&2'+' -* 4$-&%* +' "5C' -* ,A +* 4$+%* .".'-&$9 ':$%&' 4*/* 2/ .".'-&$#4*
%$#,"%'+*2%* -' :'#$ +* 4'*# %*4C*#*9 ' .%2&' #$/,%$ #$ %$B$#&"%' +$ 2/' "/,*%&J-4"'
<2-+'/$-&'5 '*# *5C*# +$ *:"-#*-=YY M9 = X9 , ==9 &%'+2()* -*##'O 4',;&25*"-"4"'1#$+$##'<*%/'2/'+$#4%"()*4'%%$.'+'+$#;/:*5*#%$<$%$-&$#E$B*52()*
+*C$%0"
.%2&' #"&2'+' -* 4$-&%* +' "5C' A 2/ $#,'(* #'.%'+*9 4*/ ,*&$-4"'5 4%"'+*%
&"-."-+**4$-&%**-A*<"&*'+82"%$2/'$@"#&6-4"'-*B'92/'B"+'82$A%$'59+2%'+*2%'9
$<"4"$-&$M
9=
9,XO3%B*%$'4"/'+'$-&%'+'+'.%2&'',*-&','%''%$'5"+'+$
':#*52&'+$##$$#,'(*95".'+*'&%'BA#+*4$+%*'*4A2$,*%&'+*%+$2/'<*%('&%'-#4$-+$-&'5
,*% /$"* +$##$ B$.$&'5 5A/ +"##*9 ' .%2&' ':%"'1#$ 4*/* 2/ %$#,"%'+*2%*9 %$<$%6-4"'
=Y=
$$ $ $ 96 - &F* 6 - &' &&9
6$$-'-2M9= X9,==O
=Y
$$2M9= X9,==>O
=Y>
5$$!-&9;$$9-9$ $--;'#*-;$
&&$$&-8-2M9= X9,==WO
=YY
$9 $ -;P- & D %9$* '$ %%$! &- 7 - # #<* - %$$ '$ $6 ':$ &$ $- < .< 2
M9= X9,==O
= +"%$&'E5$/:%'-('+$*:"-#*-#*:%$','-"<"4'()*
$-&%*+$#&$4$-&%*9*:"-#*-&*%-'1#$'
/'##'&%':'5C'+',$5'#/)*#+*,'+$"%*
-@$%.'-+* $/ ,$%'-G' 4*/* -2-4' #2' -'&2%$G' "-+"#42&"B$5/$-&$ <$/"-"-'9
*:"-#*-#$-&$1#$'&%';+*,$5'.%2&'94*/*2/'B"'+$'4$##*'*"-&$%"*%+*4*%,*+'"5C'0
$-&)* ,$%4$:$ ' -$4$##"+'+$ +$ +*:%'%1#$ +*4"5/$-&$ E# $@".6-4"'# +* /$"* 82$ $5$ 82$%"'
4*-82"#&'%=YNM9= X9,=9&%'+2()*-*##'O
&*&'5$#42%"+)*+*"-&$%"*%+'.%2&'#"-'5"G'#2''&/*#<$%'/"#&$%"*#'$+$#4*-C$4"+'
$#$4*5*4'4*/**,%"/$"%**:#&3425*-*4'/"-C*'&A*"-&$%"*%+$,$%'-G''%''+',&'%1#$
' $5'9 *:"-#*- ,$%/'-$4$ "/0B$5 -'# &%$B'#9 $-4*#&'+* E ,'%$+$ *%-'1#$ $-&)* ,'%&$
"-&$.%'-&$ +' ,%0,%"' "5C'9 ' <2#)* 4*/$('9 $5$ B"B"' "-&$-#'/$-&$ 4*/ $5' *:"-#*-9
#$/,%$'&*%/$-&'+*,$5''2#6-4"'+$*2&%*9,$5'<'5&'+$+"<$%$-&$#,*-&*#+$B"#&'#9B"B$2/'
$@,$%"6-4"'<*%&$/$-&$#$-#2'54*/,$%'-G'94*-<"%/'+',*%#2'#Z5&"/'#%$<5$@I$#+*-%M
) -* 4',;&25* *%-'-+*1#$ $5$ ,%0,%"* ' "5C'9 ,'%&$ "-+"##*4"3B$5 +$ #2' -'&2%$G'9
&*+'#'#4*"#'##$%"'/4*-C$4"+'#9#$/82$-"-.2A/4*-C$('94*-#4"$-&$9#$/82$-"-.2A/
&$-C' 4*-#4"6-4"'^=YW M9 = X9 , =9 &%'+2()* -*##'O $ $5$ ,*+$ +"#,$-#'% *
*2&%*82$&'-&*+$#$P'
/ %'"* +$ #*5 ,'##' %',"+'/$-&$ ,$5* "-&$%"*% +' .%2&'9 #$/ 82$ ' "52/"-'()*
$#,$%'+',*%*:"-#*-'4*-&$('-&%$&'-&*9*$B$-&*&$/2/'"/,*%&J-4"'<2-+'/$-&'5`*
+$2#%'-*<$42-+'-+*'&$%%'9!'"'*+*#*#<%2&*#+'&$%%'9&*+'#2'.$%'()*A%$#25&'+*
+$#&'2-")*,'%&"%+$#&$"-#&'-&$4*-4$,4"*-'59*:"-#*-+$#$-B*5B$1#$&'52/$/:%")*-*
B$-&%$+$,$%'-G'=YXM
9=
=9,=9&%'+2()*-*##'O
%$##$-&"-+* * B'5*% <2-+'/$-&'5 +' $@,$%"6-4"' +$ '+$-&%'% -* B$-&%$ +$ ,$%'-G'9
$5$ "/,I$1#$ 2/ P$P2/ ,2%"<"4'+*% +$ B"-&$ 82'&%* C*%'#9 $@,$%"6-4"' 4*/2/ $-&%$ *#
-$0<"&*# -.*5"+* ,$5' ,%0,%"' &$%%'9 *:"-#*- "-"4"' ' <'#$ &$5Z%"4' +$ #2' $B*52()* "/'.$/ +* $-.*5"/$-&* A %$<*%('+' ,$5' +$#4%"()* +' +$#4"+' ,$5* *%"<;4"* +' .%2&' $5$
$#4*%%$.'5$-&'/$-&$/'#%$.25'%/$-&$94*/**:*5*'5"/$-&'%-*$#V<'.*=Y?M9
= X9,=N9&%'+2()*-*##'O
=YN
#$&--$<<%-!;-'-$!9M9= X9,=O
=YW
#!#$*&!*$*!&$>
M9= X9,=O
=YX
a&$$$$&$-*9'-&&$-.-'$&F2
M
9= =9,=O
=Y?
-%--$$9%-D$*---$-;Z&#%2M9= X9,
=NO
==
` "/,*%&'-&$ %$4*%+'% 82$ -' &%'P$&0%"' "-"4"3&"4' +* C$%0"9 * %$&"%* $/ :2#4' +*
4*-C$4"/$-&*A2/'$&','"/,*%&'-&$"#*5'/$-&*,%*,*%4"*-'4*-4$-&%'()*-$4$##3%"'-'
:2#4'+$'5.2/4*-C$4"/$-&**2+$$-$%."'%$<$%6-4"'+*B$-&%$A4*/2/9$/+"B$%#'#
5$-+'#9 5*4'5 *-+$ * C$%0" ,*+$ #$ <*%&'5$4$% $ #$ <*%/'% ##"/ '4*-&$4$ ,*% $@$/,5* -'
C"#&0%"':;:5"4'+*,%*<$&'*-'#5$'+82"%$4*-#4"6-4"'+$#2'/"##)*#0',0##$%$-.*5"+*$
,'##'%2/5*-.*,$%;*+*-*B$-&%$+$2/.%'-+$,$"@$.%2&'$@$%4$%3*/$#/*,',$5+$
B$-&%$+*,$"@$-'&%'P$&0%"'+$*:"-#*-`,*%$5'82$*:"-#*-4C$.''2/+*/;-"*+$
%$B$5'(I$# ` -$5' 82$ $5$ #$ %$<2."' ` +$5' 82$ $5$ #'" -*B'/$-&$9 ,*%&'+*% +$ 2/' *2&%'
B$%+'+$=Y M
9= >9,N=9&%'+2()*-*##'O
-Z45$*+$,$%'-G'A*B$-&%$+$#2'.$#&'()*5$%$,$&"%3'$@,$%"6-4"'+"B$%#'#
B$G$#'&A$#&'%4*/,5$&''.$#&'()*-*#$"*+'&$%%'%$,%$#$-&'()*+$*:"-#*-4*/*2/
:$:6 P3 <*%/'+* $B"+$-4"'1#$ 82'-+*9 -' &$%%' #$4'9 $5$ $-4*-&%' 2/' <*-&$ +$ 3.2' $ '
"/'.$/'##*4"'1#$'+$2/:$:6/'/'-+*-*#$"*+'/)$
##'Z5&"/'<*-&$B'G'B''*#,*24*#+$2/:"4*+$&$%%'82$#$$5$B'B'$/
2/'45'%$"%'-*/$"*+'#3%B*%$#94*/*#$'"5C'&"B$##$'<'#&'+*#$2B$#&"+*
+$ <5*%$#&' -$##$ 52.'% -82'-&* 4*5'B' #$2# 53:"*# 3B"+*# '* :2%'4* ,'%'
#2.'% '&"B'/$-&$ * 5;82"+* B"&'59 $5$ B'."' +$ %$4*-C$4"/$-&*=N
M9= X9,=>9&%'+2()*-*##'O
$,*"#+$.$%'+*9*:"-#*--)*,*+$"/,2-$/$-&$,$-$&%'%*B$-&%$+$,$%'-G'
,$-$&%'()*%$,$&"+'<".2%'','%&"%+$$-&)*2/"-4$#&*%$&*%-*'$#&$-Z45$*%$'5"G'%1#$1E
',$-'#4*/*2/%$&*%-*E#$,25&2%'9%$<*%('-+**4'%3&$%'2&04&*-$+*C*/$/9+$#$P*#*+$
$-&$%%'%1#$-'/$#/'&$%%'*-+$-'#4$2
'##'+'9,*%&'-&*9'$&','+$.$#&'()*92/*2&%*$#&3."*+'$B*52()*+*C$%0"'##2/$
"/,*%&J-4"' C$.' ' <'#$ +$ #2' P2B$-&2+$9 82'-+* +$B$ ,'##'% ,*% 2/' $B*52()* +'
#$@2'5"+'+$ $ <*%/'()* :'#&'-&$ ,%$/'&2%'9 ' *,()* +$ *:"-#*- $/ /'-&$% %$5'(I$#
4*/2/&%*-4*+$2/'3%B*%$%$##$-&$1#$+$2/4'%3&$%<*%&$/$-&$C$&$%*##$@2'5<%'4'##*
+'$@,$%"6-4"'94*/,'%'+*E4*-&%'()*+$2/'+*$-('#$@2'59%$'<"%/''&%'P$&0%"'4*/2/+'
=Y
;$&--!D79'9-$2;$--!;-; $2;$;--
!;-$*&$;$'9$92M
9= >9,N=O
=N
$$D$$&$$$;-$!;9-'$-D-
*-;P-'$9$9 :$$$2!;---$-D''$
&$'$--!'$-*-'%$M9= X9,=>O
===
<*%/'()*+*C$%0"$5$-$4$##"&','##'%,*%+$4$,(I$#'-&$#+$$-4*-&%'%*4'/"-C*4$%&*+$
#2'$B*52()*
WY',;&25*
4',;&25*A'#$826-4"'50."4'+'$B*52()*+$*:"-#*-%'4'##'+'#2',%"/$"%'
$@,$%"6-4"'9 $5$ +$B$%3 ,%*42%'% *2&%' B"' ,'%' * +$#$-B*5B"/$-&* +$ #2' #$@2'5"+'+$ 5$
$-4*-&%'1#$ 4*/ ' *2&%' "5C'9 82$ * #$+2G $5' $#&'B' -2'9 $#&' &$%%' 82$ * $-B*5B"'=N=
M9= X9,W9&%'+2()*-*##'O$'+$#,*#'
$-B*5B"/$-&*4*/'4*/:$%*#'4*/*2/'-*B',*##":"5"+'+$+$+"%$4"*-'/$-&*
#$@2'5.2'%+'$/#"2/B'5*%/2"&*/'"*%9,*"#,$%/"&$'*:"-#*-9,$5'#$.2-+'B$G9&$%2/
4*-&'&* ,%*<2-+* 4*/ ,$%'-G'9 5$B'-+*1* ' #$ #$-&"% ,'%&$ +' "5C' $@,$%"6-4"' 4*/ '
4*/:$%*#'9',$#'%+'<*%&$4*-*&'()*C$&$%*##$@2'5M'4*/:$A&'/:A/4*/,'%'+'''5.2/'
,'%&$ +$ 2/ .%'-+$ 4*%,* <$/"-"-*O9 ,$%/"&$ $#&':$5$4$% 2/' %$5'()* <*%&$/$-&$ $5$/$-&'%
$-&%$*C$%0"$'&$%%'
/'&2%"+'+$+'%$5'()*+$*:"-#*-4*/,$%'-G'A$B"+$-&$$/4*/,'%'()*4*/'
$@,$%"6-4"' #$@2'5 '-&$%"*% $#&' B$G9 *:"-#*- '##2/$ 2/ %$5'4"*-'/$-&* 82$ '5A/ +$
#$@2'5 A '/*%*#*9 $#&':$5$4$-+* 2/ 4*/,%*/"##* 4*/ ' &$%%' 5A/ +"##*9 ' %$5'()* .$%'
<"5C'# # /'-+%3.*%'# 82$ -'#4$/ -*# 52.'%$# *-+$ *:"-#*- +$%%'/' #2' #$/$-&$
+$#&'4'/*,%*4$##*+$+$#2/'-"G'()*+$*:"-#*-
$%&*+$82$#2'#%$5'(I$#4*/,$%'-G''$#&'B'/C2/'-"G'-+*9*:"-#*--)*#$+3
4*-&'82$'$@,$%"6-4"'+$<$42-+'%'&$%%'*'<'#&'4'+'B$G/'"#+$#2'"+$-&"+'+$C2/'-'
4*-#4"6-4"'+$##$<'&*-'#4$+$2/$,"#0+"*<'-&3#&"4*$/'%4'-&$-'*:%'2/'/'-C)-'
82'5 #$ 5$B'-&'-+* $5$ 4*-#&'&*2 82$ #2' :'%:' 4%$#4$-+* -* +$4*%%$% +' -*"&$ 4*/$('%' '
4%"'%%';G$#-'&$%%'=NM9= X9,=>?9&%'+2()*-*##'O
$4$%&*9 ' +$#2/'-"G'()* +$ *:"-#*- <'G ,'%&$ +$ #$2 ,%*4$##* $B*52&"B* *
$-&'-&*9 ' "-#"#&6-4"' $/ '##*4"'% * #$@* $ ' /*%&$ "-+"4' 82$ * &",* +$ %$5'4"*-'/$-&*
/'-&"+* 4*/ ' &$%%' +$B$ #$% #2,$%'+* $ -)* A * 'B'&'% <"-'5 +' #$@2'5"+'+$ +$ *:"-#*-
$.2"-+*'50."4'+*#,*B*#,%"/"&"B*#92/'$@"#&6-4"',$%<$"&'$"-45"-'+'E$&$%-"+'+$+$B$
=N=
=N
--9$$*$$$!-;'-&&$M9= X9,WO
$C;9'--$-$$!&$-$'$97&
-$2M9= X9,=>?O
==
#$%4;45"4'$-)*#$"-#&'5'%$/-$-C2/+*#$#&3."*#+$<*%/'()*+*C*/$/9/*%&$9.$#&'()*
*2%$.$-$%'()*
D-B!
%!%%
"#82$/B'"<'G$%#'"%*%$/"&'+$#$2:2%'4*6-2#$/,$##*'$/$%.$
+'# 3.2'# $ +3 #$2# ,%"/$"%*# ,'##*# $/ #2'# ,5'&":'-+'#=N> /' *2&%'
4'%&'9 ,*% <'B*%F *:%".'+* $@&* %4'-* * '."&3%"* 6-2# &%'-#<*%/'+'
$/'-P*'5'+*$-B"'<5$4C'#$/+"%$()*'*#*5=NYM9= X9, 9
&%'+2()*-*##'O
3$#&345'%*82$/'"#+*82$#$.2"%'-*/$-45'&2%'4*/2/$-&$2&"5"G'+'-*&'%V9'-
$R##$59<'G2/'"-&$%,%$&'()*B*5&'+','%'+"B$%#'#/"&*5*."'#9%$5'4"*-'-+*'#"/'.$-#+'#
4'%&'#'+$2#$#*+$/*#"+$-&"<"4'%-'%$<$%6-4"''6-2#9'4'%&'+$-*/"-'+'#&%$5'
"/'.$/+$2/'/25C$%-2'E:$"%'+$2/5'.*'##*4"'1#$+$"/$+"'&*E
$2#'
'*:%'9'<".2%'+$6-2#$#&3+"%$&'/$-&$%$5'4"*-'+''$-+%$+"$'42%&'<%'#$+$
'-
$R##$5%$<$%$1#$E4C$.'+'+*#$5B'.$/$/,$%'-G'$#&%$5'A2/#;/:*5*:$-<'G$P*
$ %$,%$#$-&' 2/' $5$B'()* +* $#,;%"&*9 :$5$G' $ ,5$-"&2+$ <".2%' <$/"-"-' ,*+$ #$%
$-&$-+"+'4*/*#;/:*5*+$%$-*B'()*95".'+'E&$%%'1/)$
#$.2"%9*#$@&*'%4'-*#2%.$'"-+'$/%$<$%6-4"''$-+%$+"9,*"#'<".2%'+'4'%&'A
-*B'/$-&$%$5'4"*-'+''6-2#'"4*-*.%'<"'+'4'%&'92/'-P*'5'+*,'"%''4"/'+$&%6#
,$##*'# C*/$/ ,'%'+* -' ,*#"()* 4$-&%'5 $#&3 +"B"+"+* $-&%$ +2'# *,(I$# #&$ C*/$/
,*+$#$%%$5'4"*-'+*'*,%0,%"**:"-#*-
=N>
/<%'-46#9','5'B%'&-$MA2#'+'4*5*82"'5/$-&$$/4$%&'#$@,%$##I$#94*/*'2#'+',*%*2%-"$%9
4*/*#$-&"+*+$%&%9%
=NY
-7!' $-;1$$29&9%<$ $&&
' &-$M2 $ $* ;- ' &-P$0 2 <D+ - %$$2 9
$ 9%-9' -D#'---2M9= X9, O
==>
WN=',;&25*
# ,%$.'(I$# +$ $-P'/"/ %'-c5"- ':%$/ * 4',;&25* # ,'5'B%'# +* -*%&$1
'/$%"4'-* 4*-+"G$/ 4*/ ' *%.'-"G'()* +' "5C' '+/"-"#&%'+' #,'5C'-+* '# ,'5'B%'# +*
"-B$-&*%-'#2,$%<;4"$+'"5C'9*:"-#*-&$-&'"/,*%*$82"5;:%"*+*$#,;%"&*4',"&'5"#&'-'"5C'
%'('%$##'#+"B"#'#A&$-&'%+'%2/#$-&"+*E"5C''+/"-"#&%'+''/$'('+',$5*-'#4"/$-&*
5'&$-&$ +'%
"$&*%-'+'K2/'$-*%/$ /382"-'."%'-+*$/ <'5#*L=NNM
9
=
>9,W=9.%"<*+*'2&*%9&%'+2()*-*##'OC",0&$#$+$/'%4'%'#4':%'#4*/'#5$&%'#82$
<*%/'/2/'+'#<%'#$#$$#,$%'%82$*'4'#*'4*/,*-C'9/*#&%'*82'-&*'*%+$/+'"5C'
'+/"-"#&%'+'A'5$'&0%"'$/*B$+"('
$,"#0+"* /*#&%'9 $-&%$&'-&*9 2/' $B*52()* "-4*-#4"$-&$ +* ,%0,%"* *:"-#*- /$/0%"' +$ *:"-#*- $#&3 #2,$% '&"B'+' 'B"' '5.2-# /$#$# * P*.* +$#%$.25'+* +$ #2'
/$/0%"' %$#&"&2;'15C$ *# K'5/'-'82$#L +$ $-P'/"- %'-c5"- 82$ #$2 ,'" ]^_ 5C$ <"G$%'
',%$-+$% +$ 4*%=NW M9 = X9 , => 9 &%'+2()* -*##'O #&' /$/0%"' ,'%$4$ B"%
,'%' 4*-+2G"15* +$ B*5&' '* ,'##'+* $ %$B"B$% #2'# <%2#&%'(I$# "-<'-&"# $.2-+* 2-.9 $##$
,%*4$##*A<2-+'/$-&'5,'%''4*-#&"&2"()*+$2/',#"82$#'2+3B$5
&$-&'&"B'+$:2#4'%%$'<"%/'%'$#&%2&2%'+'"5C''+/"-"#&%'+',*%/$"*+'#+"B"#'#
/'%4'+'# $/ &*+*# *# 4'-&*# A ':'5'+' +$ "/$+"'&* ,$5' 4C$.'+' "-$#,$%'+' +*# "-+;.$-'#
2'"-"4"'&"B',I$$/%"#4*'#2',%0,%"'B"+'9<"4'-+*$B"+$-&$82$'"-#"#&6-4"'$//'%4'%'
"5C' 4*/* &$%%"&0%"* 4"B"5"G'+* -)* A ' #';+' 4*%%$&' *B'/$-&$ * &6-2$ +*/;-"* +' "5C'
'+/"-"#&%'+'A':'5'+*
*/$-&*#'-&$#+*$-4*-&%*4*/$-+%$+"92/:*+$'&'4'*:"-#*-982$$#4',',*%
,*24* 4)* $-- '4':' #$-+* '&"-."+* $ <$%"+* -* 52.'% +* ,%*&'.*-"#&' 3 +*"# ,*-&*#
"-&$%$##'-&$# ,'%' #$ -*&'% -$#&$ $,"#0+"* ,%"/$"%* A 82$ * :*+$ 82$ *# '&'4'9 -)* A 2/
'-"/'5 #$5B'.$/ $ #"/9 2/ +$ #$2# :*+$# /'"# <'/"5"'%$#=NX M9 = X9 , =Y=9
&%'+2()*-*##'O$*#$.2-+*A82$*4)*A'&"-."+*'&'82$+$2/+*#'-"/'"#82$4*/,I$
* %$:'-C* +' "5C' '+/"-"#&%'+' $B"+$-4"' 2/' %$B*5&' "/"-$-&$ +' ,%0,%"' "5C' 4*-&%' '
*%+$/"/,*#&',*%*:"-#*-9#"/:*5"G'+',*%$--
=NN
"'*;$##77-;P-$99&--$$
-;$'G9#$$7';2M
9= >9,W=9.%"<*+*'2&*%O
=NW
&!-!-699%-99-$$$-G-#;6)-!
&D=>?-'$ $&&&Z2M9= X9,=> O
=NX
-;-&- -M9= X9,=Y=O
==Y
4C$.'+'+$$-+%$+""-"4"'2/'-*B'<'#$-'$B*52()*+$*:"-#*-#$826-4"'+$
'4*-&$4"/$-&*# 82$ 425/"-' -' "-&$.%'()* +* "-+;.$-' '* %$"-* +$ *:"-#*- A /'%4'+'
,$5* '4'#* ' /$#/' <*%/'9 ' '+',&'()* '* #"#&$/' $5':*%'+* ,*% *:"-#*- A +$#'#&%*#'
,'%''*%+$/+'"5C''+/"-"#&%'+'
"-<526-4"':$-<'G$P'+$$-+%$+"%$<5$&$1#$-'B*5&'+'4','4"+'+$+$*:"-#*-%"%9
-* +"' #$.2"-&$ E 4C$.'+' +* '%'24'-* / "/$-#* %"#* #'42+"21*9 -$%B*#*9 5*24*9
"-$@&"-.2;B$5 2'-+* $5$ "-&$%%*/,$21#$ ,'%' %$&*/'% #$2 <V5$.*9 +$21#$ 4*-&' 82$ $%' '
,%"/$"%'B$G82$%"'',0#*-'2<%3."*+*"%."-"$=N?M9= X9,=YN9&%'+2()*
-*##'O82"9A"/,*%&'-&$5$/:%'%';-&"/'%$5'()*$@"#&$-&$$-&%$*+$2#
"*-"#*9,*%&'+*%
+''5$.%"'9$*#$5B'.$/
-*/$$-+%$+"%$<*%('*4'%3&$%/'%'B"5C*#*82$*"-+;.$-''##2/"%3-*+$4*%%$%
+'$B*52()*+*-32<%'.**:"-#*-$#4*5C$*-*/$,*%'4%$+"&'%82$2/#$5B'.$/-)*A2/
#$% C2/'-* ,*% "-&$"%*=N $ 'B'5"'% 82$ -)* ,*+$%"' "/,*%15C$ 2/ -*/$ +$ 4*"#'=W
M9= X9 ,=YX9&%'+2()*-*##'O'B$%+'+$9*-*/$$-+%$+"%$##'5&'%3'"-+'
/'"#*4'%3&$%+"B"-*+*"-+;.$-'9'##*4"'+*&'/:A/E+$2#'6-2#9$42P'%$5'()**4',"&)*
'-
$R##$5P3'-2-4"'%'-'*4'#")*+'5$"&2%'+*&'%V
$ %$#&*9 ' *,*#"()* $-&%$ '# +2'# <".2%'# ','%$4$ +$ <*%/' :'#&'-&$ $B"+$-&$ -*
4',;&25* $-+%$+" #2%.$ 4*/* 2/' $#,A4"$ +$ 'B$##* +$ *:"-#*-9 -2/' %$5'()* /'%4'+'
,$5'*,*#"()*##"/9*:"-#*-A+$#4%"&*4*/*2/#$-C*%:%'-4*$:'%:2+*94"B"5"G'+*$
#A%"*9$-82'-&*$-+%$+"A*$#4%'B*-$.%*$-29#$5B'.$/$%"#*-C*
D-D-%%
"#';-<$5"4"+'+$a*46'4':'+$B"%'%*'%4'-*B"-&$$2/9'82$5$+*'*#a
:$#&'+'$%%'52&'4*/2/ /*-#&%*<5'/$P'-&$ C*/$/82$B*46B69
=N?
- * '<* * <$%-2 !;- ;:$ & & -* -
;'!;9$$-&D !;-$&- %-%2M9= X9,=YNO
=N
'%;$&:$#7&$$D2M9= X9,=YXO
=W
-&#M9= X9,=YXO
==N
,%$#*$-&%$<*%('#*,*#&'#9A2/5*24*%$4*-C$4;B$5,*%#$24$&%*=W=0#-*#
&*%-'%;'/*#'##"/,*%/$-*#=WM9= X9, 9&%'+2()*-*##'O
'%4'-* B"-&$ $ 2/ A '&%":2;+* &%'+"4"*-'5/$-&$ E 4'%&' 4C'/'+' 2-+*9 ,*%A/9
*2%-"$%,'%$4$&$%'+*&'+*2/'&%'+"()*/$-*#4*/2/95".'-+**-Z/$%*E4'%&'+**24*
#&'4'%&'9+"<$%$-&$+*#*2&%*#'%4'-*#9-)*,*##2"-2/$%'()*9$,*%"##*9*#$#&2+"*#*#+*
&'%V 4*#&2/'/ '&%":2"%15C$ * -Z/$%* G$%* *2 * -Z/$%* B"-&$ $ +*"# ".2$& M=
=9 , >W9
&%'+2()*-*##'O$@,5"4'82$$@"#&$2/'&%'+"()*'&$#&'+'-'*:%'+$'/"5$%$2#*&9'4$
425&' +*# Z/$%*#9 #$.2-+* ' 82'5 * *24*9 -)* &$-+* '5.'%"#/* ,%0,%"*9 $#&'%"' -*
B".A#"/*,%"/$"%*52.'%=W>
/ <%'-46#9 ' 4'%&' A E# B$G$# "-&"&25'+' $ -&%$ *# +"B$%#*# #".-"<"4'+*# +*
&$%/*9 C3 * #$-&"+* +' ,$%#*-'.$/ %$,%$#$-&'+' -' 4'%&' $#&'% $/ 2/' #"&2'()* +$ /'&$9
4*/* -* @'+%$G9 $-42%%'5'+' ,*% '5.2/' <*%(' '%$4$ #$% $#&$ * #$-&"+* +'+* E 4'%&' ,*%
*2%-"$%##*/:%'+* ,$5'#'&"&2+$#$ ,$5*/2-+* ,'%'5$5*+$$-+%$+"9*:"-#*-9' :$#&'
+'$%%'952&'4*-&%''+$#&%2"()*+$#$2/2-+*4"B"5"G'+*$/,%*B$"&*+$2/%$"-*#*5'%
*%*2&%*5'+*9**24*<".2%'+*-$##$'%4'-*,*+$#$%"-&$%,%$&'+*4*/**,%0,%"*
$-+%$+"<"-'59**24*"/,5"4''+$#B'5*%"G'()*+'%'G)*9'$#,*-&'-$"+'+$9''5$.%"'
*24*A2/'-+'%"5C*$-A%."4*92:;82*$"/*%&'5]^_*/*-)*&$/-Z/$%*<"@*9$#&35"B%$
,'%' B"'P'% E B*-&'+$9 ,$%&2%:'-+*9 -)* %'%*9 ' *%+$/ $#&':$5$4"+' 4*/ #2'# &%'B$##2%'#
M9=9,> O
WW=',;&25*
$-+%$+" A * "-B$%#*% +' *%+$/ +' "5C'9 #2'# '(I$# 425/"-'/ #$/,%$ -'
&%'-#<*%/'()* +' -'&2%$G' 4*/2/9 ,%$B"#;B$5 $/ '5.* #2%,%$$-+$-&$ $ -*B* # 4'4&*#
','%'&'+*# 4*/ * 4*-&$Z+* +$ 2/ :'Z &%'-#<*%/'/1#$ +$ #"/,5$# B$.$&'"# $/ 2/ 4*%&$P*
=W=
**%"."-'59','5'B%'2&"5"G'+''82"A$$`2/4$&%*9$-4"/'+*,*%2/'4':$('9,*%&'-+*2/4C',A2
$-<$"&'+*+$.2"G*#9#;/:*5*+'5*242%'
=W
'-#N'F$-;'%$$D*-#N:$-"
$ -$$ ' $ -2;#!' '.F* & $ &&9* $ -7$$2-'$72M9= X9, O
=W>
-<$$$!;$$$-;'%--$*''4$4'4CA$+$#-*/:%$#*--!--
-$*;.$&# &&*$7-'%$$D&-2M!9= =9,>WO
==W
'524"-'-&$+$,%$5'+*#9+$.%'-+$#+'/'#$+$/*-#&%*#*,25$-&*#=WYM9= X9,
=W9&%'+2()*-*##'OD#%$#,*-#':"5"+'+$#<'&".'-&$#"/,*#&'#,*%*:"-#*-9*,I$1#$'&*&'5
5$B$G'$+$#',$.*+*"-+;.$-'4*-#4"6-4"'+'+$#&%2"()*+*'%%*G'5-)**&*4'%'-$/2/
,*24*
/*/$-&*+$5":$%+'+$':#*52&'+$$-+%$+"+3B25&*E#2'-'&2%$G''A%$'$$5$
,2+$##$ B*'%a %'-#<*%/'%1#$ $/ :*%:*5$&'a 'G$% B*'% 2/' ,$+%'9 $##$ #*-C* $-4'-&'B' '
'5/' 'A%$' +$ $-+%$+"=WN M9 = X9 , =W1=W=9 &%'+2()* -*##'O # 3%B*%$#
"-B$%&"+'#%$<*%('/#$2,*&$-4"'5+$"-B$%#*%+'*%+$/9/'#&'/:A/#"-'5"G'/-*'5&*'<*-&$
+$$-$%."'+*'%'24'-*
*:"-#*-+$#4*:%$2/-*B*$-+%$+"+$#4*-C$4"+*,'%'$5$94','G+$':*5"%&*+''
*%+$/ ,%A1$#&':$5$4"+' *:"-#*- &$B$ +$ #$ 4*-<$##'% 82$ $-+%$+" #*: #2' +*4"5"+'+$
#*5;4"&' &"-C' 2/' ,$%#*-'5"+'+$9 $ 82$ &2+* '82"5* 82$ +$5' $/'-'B' * 4C*4'B'
,%*<2-+'/$-&$$'&$-&'B'4*-&%''"-&$.%"+'+$+'"5C''+/"-"#&%'+'=WWM9= X9
,=W9&%'+2()*-*##'O
-%M) +$ *:"-#*- A &$#&$/2-C' +$ #2' #2%,%$#' 82'-&* '* &",* +$
%$5'4"*-'/$-&* $#&':$5$4"+* $-&%$ $-+%$+" $ *# '-"/'"# +' "5C' 5$ A %$4$:"+* $ '4$"&*
,$5'#:$#&'#4*/*2/'+$5'#=WXM9= X9,=X=9&%'+2()*-*##'O'%'$5$9$##$
&",*+$%$5'()*+$B$%"'4*-<"%/'%*.%'2+$:$#&"'5"+'+$+*#$5B'.$/'B$%+'+$9'%$5'()*
C'%/*-"*#' $-&%$ * "-+;.$-' $ *# '-"/'"# +' "5C' +$/*-#&%' 4*/ 45'%$G' ' "-&$.%'()*
$@"#&$-&$$-&%$$5$$&*+''-'&2%$G'+$,$%'-G'
# +*"# 4*/,'-C$"%*# +$#$-C'/1#$ 4*/* #$%$# 4*-&%'+"&0%"*# * %"#* +$#B'"%'+*
+$ $-+%$+" *,I$1#$ * %*#&* ,$-#'&"B* $ #"5$-4"*#* +$ *:"-#*- /' '&/*#<$%' +$
4*-<%*-&*$#&':$5$4$1#$$-&%$'#+2'#<*%('#4*-&%3%"'#%$,%$#$-&'+'#,$5'#,$%#*-'.$-#5$#
-)*#)*',$-'#*,*#&*#F-$##$4',;&25*&*%-'/1#$B$%+'+$"%*#*,*-$-&$#4*-<$4()*+$2/
$#42+*,*%$-+%$+"9'##"/4*/**4C"4*&$+$*:"-#*-#2,I$/',%$,'%'()*+$2/'.%'-+$
52&'$-&%$+*"#C$%0"#:*%:*5$&',%$&'$*.'B")*/*%&*#,*%*:"-#*-4*/*4C"4*&$#)*
/$&3<*%'#+*'A%$*$-+%$+"'&'4'+*,$5*&$5Z%"4**:"-#*-$#,;%"&*+$*:"-#*-"-<5'1#$
4*/,'%'+*'2/B254)*
=WY
$D%#--$&9-$*%$$&-$M9= X9,=WO
=WN
;-&'$;'-N$ &&--N'-&*:'#$$-;X9
2M9= X9,=W1=W=O
=WW
'$;'!-$9&9'$&-$9*$!$$
! 9$ - #!$ & 9$ $ &$$ $$$ 7 -;$9%$9 -;P- $92 M9
= X9,=WO
=WX
-$8$&$9&-:$-;;--2M9= X9,=X=O
==X
)*$%'#*: '$#,A4"$B25.'%+$2/C*/$/"%%"&'+*82$$5$ ,'%$4"''#$2#
,%0,%"*#*5C*#9/'#4*/*2/'<*%('*%"."-'59#';+'+'#$-&%'-C'#+'&$%%'$
B'%%$-+*&2+*+$2/#*,%*'%+$-&$/B254)**:"-#*-$%'2/B254)*82$
<$-+"' ' #2,$%<;4"$ +$ ,$%'-G'9 4*/* ' 405$%' <2-+'/$-&'5 +' %*4C' $ +*
&2<*=W?M9= X9,=XY9&%'+2()*-*##'O
"/'.$/ +* B254)*9 ',$#'% +$ "-&"/'/$-&$ 5".'+' '* $5$/$-&* &$5Z%"4* M'# 5'%B'#
#'$/ +$ +$-&%* +' &$%%'O9 %$5'4"*-'1#$ &'/:A/ '* <*.* B254)* $/ *:"-#*- ' ,*-&* +$
$-&%'%$/$%2,()*9&$/4','4"+'+$+$4*:%"%'#2,$%<;4"$&$%%$-'82$*4$%4'
$-&%*+*C$%0"
*<*.*P3$@"#&$9/'#,$%/'-$4$,%$#**#,*24*#9*-'%%'+*%B'""-#$%"-+*',$%4$,()*+$
2/'"-45"-'()*+',$%#*-'.$/$/+"%$()*'*$5$/$-&*;.-$*,%'G$%+$*:"-#*-'*<2/'%
#$24'4C"/:*A''5$.*%"'+$#2',%0,%"''5/'
'%'$5$9#0"/,*%&'B'*,$82$-*<*%-*'%+$-&$$B"B*94%$,"&'-&$$':%'#'+*
%'*"-B0524%*&$%%$#&%$+$2/,$82$-*#*5#2:&$%%J-$*92/&",*+$B254)*
,*%&3&"5 $ +*/$#&"4'+* 82$ "-4$-+"'B' &%'-82"5'/$-&$ #*: '# 4"-G'# '*
4C'/'+*+$#2':*4'=W M9= X9,=?9&%'+2()*-*##'O
'%' $-+%$+"9 * ,%'G$% +$ 4'4C"/:'% &"-C' 2/ #".-"<"4'+* :'#&'-&$ +"<$%$-&$ 2'
'&$-()* 4*-4$-&%'B'1#$ -' <2/'(' :%'-4' 5":$%'+' $/ $#,"%'"#9 %$##'5&'-+* #$2 $#,;%"&*
'A%$*<2/'('42/,%$$-&)*#2'<2-()*,%"-4",'5$5'.2'%-$4$$#$-#":"5"G'#$2#,25/I$#9
$5' &*%-' 4*-#4"$-&$ $ 4*/* 52/"-*#* $##$ $#,'(* $#4*-+"+* +$-&%* +$ #$2 ,$"&*9 $ 82$ A
'82"5* 82$ $@"#&$ -$5$ +$ /'"# 'A%$* $ +$ /'"# $#,"%"&2'5=X M9 = X9 , =?>9
&%'+2()*-*##'O
:'&'5C'$-&%$'%$&$%%'425/"-'4*/'"-&$%B$-()*+*<*.*9"+$-&"<"4'+*E$@,5*#)*
+' .%2&'9 *2 #$P'9 4*/ * +$#':%*4C'% "-&$%"*% +* C$%0" #*5'% $/ *:"-#*- $ <'&*9 *
=W?
;9$$&-;&D'-%;#$9!;-&&$7&&.<*
%--*$---$$-.$$$; -$2
'-29$$
'- ! '$ 7 - &F* - -D $- - # $ $ 2
M9= X9,=XYO
=W
-*-&$$- W-$$''$*%9--$$-$$92;9$$-;'-&&$$;
&$$--$*D'-&$$ $$!9!%.$&-$-
7-;&&-#2M9= X9,=?O
=X
9&-$- $6+---$-&*--$$
-< $ & #9 &$* $ ! $ !;- . - &- 9 $ &-
&$-2M9= X9,=?>O
==?
B$%+'+$"%* 4*/:'&$-&$ +* $#,;%"&* &$5Z%"4* +$ *:"-#*- $%' * #$2 <*.* "-&$%"*%9 4*/* P3 #$
+$#&'4'%'-'#,'5'B%'#$-"./3&"4'#+*4',"&)*'-
$R##$5
D-G!,%%%.%
%' ,%$4"#* 4*-&'% 4*/ "##*9 A '&2%-*9 +* '%4'-* +*G$9 <".2%'-+* 2/
$-<*%4'+*'#9B$P'B*469*82$C3+$/'"##".-"<"4'&"B*-$##',$%#*-'.$/9
A82$$5$A$-<*%4'+*
%3;$#&3B*46,*"#+$4':$(','%':'"@*9/$2
,*:%$ %2#*Aa ,%$##$1#$ $/ /$ +'% ' 4'%&' #$.2"-&$ "# '82" %4'-*
82"-G$ *# !6/$*# 2 /$ ,$%.2-&'B' 82'5 "' #$% * -*B* 'B'&'% +$ -*##'
6-2# /$&'/*%<*#$'+' $/ '&"%'+*% +$ <5$4C'# 5' &*%-*21#$ #$2 "%/)*
.6/$*#!6/$*##)*%$,%$#$-&'+*#'&'+*#,$5*,$#4*(*'*#,A#+*-P*
:"##$@2'5=X=M9= X9, 1=9.%"<*+*'2&*%9&%'+2()*-*##'O
'%4'-* +*G$9 * -<*%4'+* "-+"4' 2/' "-B$%#)*+$B'5*%$#9&$/'4C'B$+*4',;&25*
C*/$/ ,$-+2%'+* ,$5* ,A$@,%$##'*'54'-4$+'&%'-#4$-+$-&'5"+'+$*2+'5".'()*
$-&%$*4A2$'&$%%'2#,$-#*$5$%$,%*+2G2/'#"&2'()*,%0@"/'E+*B***2+'5$B"&'()*9
#;/:*5*# '#4$-#"*-'"# 82$ "-+"4'/ ' #2,$%'()* +* C$%0" $/ +"%$()* ' 2/ $#&3."* /'"#
'B'-('+*
2'-&* '* "':*9 ' %$5'()* 4*/ * &$@&* $-4'/"-C'1#$ -* #$-&"+* +' #$@2'5"+'+$ +$
*:"-#*-$+'#2'%$5'()*4*/$-+%$+"*+$-*/"-'%'<".2%'%$,%$#$-&'+'-'4'%&'+$&'%V
4*/* * '-P* :"##$@2'59 *2%-"$% '4$-&2' * 4'%3&$% %$-*B'+* +' #$@2'5"+'+$ +$ *:"-#*-
#$@,$%"6-4"'#4*/*#%$"-*#B$.$&'5$/"-$%'5&"-C'/'&A$-&)*2/'&$-+6-4"'<*%&$/$-&$
C$&$%*##$@2'5'-*B'*%+$/"-#&'5'+'-'"5C'9'#$@2'5"+'+$&$-+$,'%'2/'"-+"<$%$-4"'()*
$-&%$ *# #$@*# "/'."-3%"* +* "':* 4*-+2G ' 2/ #$% %$B*.'+*% +'# 5$"#9 :%"-4'5C)* $
.*G'+*%+'B"+'
=X=
- --$;.$$*;$$*-;FD* %$&2*'.FM'*!;-.
&-% $ &%*;$!;-$&
2'-7-$:$*
&'9N9&:#FM'F-$'$2'2!FD+-/9<25
!---$:$-'-'$$99$&#9$7-;2--$'
'$ D62/9<$ %9$$#9&-<&-;%<92M9
= X9, 1=9.%"<*+*'2&*%O
== WX=',;&25*Q
-<"/**2&%*$-+%$+"9+$42P'$@"#&6-4"'*:"-#*-+$#4*-<"'B'9#2%.$$/&*+*#$2
$#,5$-+*% 5$ ','%$4$ 4*/* * "-"4"'+*% +$ *:"-#*- $ +$ 2/' -*B' *%+$/ -' "5C' 5":$%+'+$+$$-+%$+"-'82'5*:"-#*-4*/$(*2'#$"-"4"'%-*#+"'##$.2"-&$#-)*$%'
',$-'# ' -$.'()* +' *%+$/ $@&"-&' +' #2,$%<;4"$ +' "5C' ,$5' $@,5*#)*=X M9
= X9 , = 9 &%'+2()* -*##'O *2%-"$% P3 4C'/'%' ' '&$-()* -* 4',;&25* '-&$%"*% ,'%' '
,$%#*-'5"+'+$ "52/"-'+' +$ $-+%$+" +'-+* 6-<'#$ -' 4'%'4&$%"G'()* +' ,$%#*-'.$/ '*
0%.)*+*4*%,*,%$+*/"-'-&$/$-&$'##*4"'+*E52G
*: #$2# 4;5"*# 5*-.*# $ %$42%B'+*#9 * .5*:* *425'% ,$%<$"&'/$-&$ 5"#* $
5;/,"+* A "-4$##'-&$/$-&$ 5"/,*9 %$<%$#4'+* $ 5'B'+* ,$5* :'&"/$-&* +'
,35,$:%' ,2,"5' ,'5,"&' #*: ' '()* B'%"3B$5 +' 52G9 /$+"-+* $@'&'/$-&$
#$2+"J/$&%*-'52/"-*#"+'+$'/:"$-&$9'<"/+$82$'%$&"-'$#&$P'#$/,%$
".2'5/$-&$ #$-#":"5"G'+' ' /'##' &%'-#,'%$-&$ +' ;%"# $#&3 #2:/$%#' 2/'
;-<"/'4*%*5'+$,52/'#+$B"+%*92/'%*#34$'<"-'9"-<"-"&'/$-&$,%$4"*#'$
+$5"4'+' *:"-#*- $#&3 <'#4"-'+* ,*% $##$ 0%.)* &)* <"-'/$-&$ 4*/,*#&*9
&)* ,$%<$"&'/$-&$ -*B* $ :%"5C'-&$ &'/:A/=X> M9 = X9 , =?=9
&%'+2()*-*##'O
+$#&%2"()*&*&'5+$&*+''*%+$/$#&':$5$4"+''-&$%"*%/$-&$A<2-+'/$-&'5,'%'82$
,*##' C'B$% ' %$-*B'()* +* C$%0" *:"-#*- A '&"%'+* +$ B*5&' '* /*/$-&* "-"4"'5 +$ #2'
4C$.'+' E "5C' */$-+* 2/ '-'-3# #$5B'.$/9 *:"-#*- 5$/:%*21#$ 82$ $%' * ,%"/$"%*
'5"/$-&* 82$ $5$ &"-C' 4*/"+* -' "5C' -* +"' #$.2"-&$ +$ #$2 -'2<%3."*=XY M9
= X9,=?X9&%'+2()*-*##'O%$&*%-*'$##$"-#&'-&$4%24"'5+'B"+'+$*:"-#*-9,$%/"&"%3
' /2+'-(' +$ &*+' #2' &%'P$&0%"'9 '<"-'59 -$-C2/ '&* A "%%$B$%#;B$5 #$ -)* <*% %$,$&"()* +*#
'&*# ,%"/*%+"'"# +*# +$2#$#9 #$.2-+* ' 50."4' ,%"/"&"B' '-"82"5'()* +' *%+$/ +' "5C'
=X
-$9U7-!--87;$-6'$U;9$$&!-
9%$-; 9- -;P-&-;<&-2M9= X9,= O
=X>
- -% $ 9* - %- - & $$ - $ -& $ $ -.9*
P# $ -'9 & - $$$ - &&D2 &&-- &-&$ -;$ '- - -D*
$ <$$ 7$ 7 - -$9 $* ! - 9$ $ $6 9%-$
&92-$&$-;$.9 --&-'*
$9* $&9$9-$2$ 9&$% $&9*& $$
$--$2M9= X9,=?=O
=XY
'$ ! ;9$$ - &D $ !;- W$ & -;P- - - %2M9= X9,=?XO
=
'+/"-"#&%'+'9+$2/'$#&%2&2%'+*/$#&"4'+'A#"/:*5"G'+',$5'/*%&$+*4)*$--*+*#
*#B'5*%$#9','%&"%+'$@,5*#)*9#)*/2+'+*#9"-B$%&"+*#9'B"+'#$5B'.$/#2:#&"&2"*#B'5*%$#
+'4"B"5"G'()*=XNM`9=
=9,=9&%'+2()*-*##'O
,$#'%+'<*%('$+'#".-"<"4J-4"'+'$@,5*#)*9$#&345'%''"-<526-4"'+$$-+%$+"-*
,%*4$##*+$%$-*B'()*+$*:"-#*-$/'"-&$%B$-()*+*"-+;.$-'9*:"-#*-&'5B$GB*5&'##$
'%$4*-#&%2"%'/$#/'"5C''+/"-"#&%'+'+$*2&%*%'$@,5*#)*-)*/'&'%'4*/,5$&'/$-&$
* B$5C* C*/$/ $/ *:"-#*-=XW M9 = X9 , =??9 &%'+2()* -*##'O 82$+' +*
4$+%* .".'-&$ /'%4' $@'&'/$-&$ * /*/$-&* +$ %2,&2%' +*# Z5&"/*# 5'(*# 82$ '&'B'/
*:"-#*-'*#$2'-&".*<2-+'/$-&*=XXM9= X9,= 9&%'+2()*-*##'O*&$1#$
82$ ' $#&%2&2%' +$##' 3%B*%$9 #;/:*5* +'# %$5'(I$# *2&%*%' $#&':$5$4"+'# $-&%$ *:"-#*- $
,$%'-G'9<*%'':'5'+',$5'$@,5*#)*9/'#A2/'*2&%'<*%('82$''%%'-4'<"-'5/$-&$+'&$%%'
*-+$$#&'B'&)*<"%/$/$-&$,5'-&'+'4$+%*-)*%$#"#&"2'*B$-&*B".*%*#*82$:'5'-('B'
'# <*5C'.$-#9 *2 #$P'9 ' "-<526-4"' 'A%$' +$ $-+%$+" A 82$ 4*/,5$&' * ,%*4$##* +$
+$#5".'/$-&*+$*:"-#*-+''-&".'*%+$/
-*B* *:"-#*- &$/ 2/' ','%6-4"' +"<$%$-&$9 $5$ '##$/$5C'1#$ ' $-+%$+"9 #$2
"-"4"'+*%5$-)*&$/$/'"#*#*59/'#$@,I$1#$'$5$,$5'-2+$G*/*2/#2,$%1C$%0"+*#
82'+%"-C*#9 '* '##2/"% #2' -*B' ,$%#*-'5"+'+$9 *:"-#*- ,'%$4$ .'-C'% <*%('9 #'Z+$ $
:$5$G' /$&'/*%<*#$ +$ #$2 4*%,* *,$%' /2+'-('# '&A $/ #2' /$+;*4%$ 4*-#&"&2"()*
C2/'-'$-$%."',%*B$-"$-&$+*#*5<2-4"*-'#*:%$'4'%-$+$*:"-#*-4*/**$#,"-'<%$
+$*,$R$*2'"%'+$25c
$2,$"&*'%82$'B'4*/*2/$#42+*+$:%*-G$2'#,$%-'#&*/'B'/',*"*
#*:%$'%*4C'9/'4"('#$"-':'53B$"#4*/*4*52-'#52G<Z5B"+'%$B$#&"'1*
+$ 2/' '%/'+2%' +$ P2B$-&2+$ "-'5&$%3B$5 $ <*%P'B'15C$ 2/' /3#4'%' +$
4*:%$+$2/'%$.25'%"+'+$"/,5'43B$5-'82'5%$52G"'/*5C*#+$+"'/'-&$
-<"/ * '#&%*1+$2# $@,V# 4*/,5$&'/$-&$ #2' 4*%*' +$ 4':$5*# B$%/$5C*#
$/ $@,5*#I$# +$ 4;/:'5*# $ $#&%"+6-4"'# +$ &%*/,$&$#=X? M9
= X9,NY9&%'+2()*-*##'O
=XN
$$-'-*7&$-;<&-*$$9*'9*-''%$$<'-
-'-$2M`9= =9,=O
=XW
=XX
=X?
;<&-;'$&$$7 $$9-'-#M9= X9,=??O
-!$$#$7 $2M9= X9,= O
&$ $ - ;2 6 &$ && - * ' $
9-- -2 -D ' - ':$$ ; 6 -$9- $ -
%$!';%-$9&--C9$-$.<$2 -;$M
9&-. $$ $D #'< % <&- .- $ $ $&$$2M9= X9,NYO
==
5A/ +' ','%6-4"' <;#"4'9 ' #$@2'5"+'+$ +$ *:"-#*- &'/:A/ #$ '5&$%' <*%/'&*
'+82"%"+*,$5'.%2&'',0#'$@,5*#)*A2/#"-'5+'&%'-#<*%/'()**%#2'4*-4'B"+'+$$,$5'
#"/:05"4'+$"-&"/"+'+$,'&$-&$9$5'%$/$&"''*#$@*<$/"-"-**/'$@,5*#)*'$-&%'+'+'
.%2&' +$#','%$4$ $ ' %*4C' '##2/$ 2/' "+$-&"+'+$ '-+%0."-'9 +*&'+' +* <$/"-"-*9 ,$5'
4*-4'B"+'+$ '"-+' $@"#&$-&$9 /$#/* 82$ *:#&%2;+'9 $ +* /'#425"-*9 ,$5' 4*-*&'()*
45'%'/$-&$<35"4'-'+$#4%"()*+$*2%-"$%*52.'%+'.%2&'42P'$-&%'+'+$#','%$4$%'
$5$B'B'1#$2/4'*#+$:5*4*#.".'-&$#4*#$/<*%/'+$&*%%$#9+$,"%J/"+$#9+$,%"#/'#9+$
4"5"-+%*# #&$ '/*-&*'/$-&* $%' +*/"-'+* ,*% 2/ ,"4* %*4C*#* 82$ #$ $5$B'B' -'
B$%&"4'5=X M9= X9,=?W9&%'+2()*-*##'O
3'"-+'2/' /2+'-('-*4*/,*%&'/$-&*+$*:"-#*-"-+"4'+*%'+'*%"$-&'()*+$
#2' #$@2'5"+'+$ ,'%' ' '-+%*."-"' $/,$-C* +$ *:"-#*- $/ 4*-#$.2"% #$ /*B$%
"-+"<$%$-&$/$-&$#*:%$82'582$%2/+*#4"-4*/$/:%*#+*#$24*%,*',%*@"/'1*+*/*+$5*
+*'-+%0."-*,5'&V-"4*9&$/'4'%*'"4C$5*2%-"$%/'-82$&$95'&)*M= WW9,=N1
=WO4*-&'82$
*/ $<$"&*9 -*##' -'&2%$G' *2&%*%' -)* $%' ' /$#/' 82$ ' +$ '.*%'9 /'#
+"<$%$-&$/,%"/$"%*52.'%9&%6#$%'/*#.6-$%*#+'C2/'-"+'+$9-)*4*/*
'.*%'9 * /'#425"-* $ * <$/"-"-*9 /'# &'/:A/ C'B"' ' /'"# 2/ &$%4$"%*9
4*/2/ ' $#&$# +*"#9 +* 82'5 %$#&' '.*%' 2/ -*/$9 +$#','%$4"+' ' 4*"#'F
'-+%0."-*$%'$-&)*.6-$%*+"#&"-&*9&'-&*-'<*%/'4*/*-*-*/$4*/2/
'*# +*"#9 '* /'#425"-* $ '* <$/"-"-* ]^_ 82'-&* '* #$2 '-+'%9 $%'
&'/:A/$%$&*4*/*'.*%'9$/82'582$%+'#+2'#+"%$(I$#82$82"#$##$F/'#
82'-+* #$ 5'-('B'/ ' 2/' %3,"+' 4*%%"+'9 4*/* *# 82$ 4'/:'5C*&'-+* $
B"%'-+*'#,$%-'#,'%'4"/'<'G$/2/'%*+'9+*/$#/*/*+*9',*"'-+*1#$
-*# #$2# *"&* /$/:%*# +$ $-&)*9 %',"+'/$-&$ $5$# #$ 5*4*/*B"'/ $/
4;%425*
52&' &%'B'+' $-&%$ * :*+$ -+*'% $ $-+%$+" A ' %$,%$#$-&'()* +* $#<*%(* +*
'%'24'-*,'%'"-"4"'%*:"-#*-/*%&$+$-+*'%#"/:*5"G''/*%&$+*B$5C**:"-#*-F#2'
&%'-#<*%/'()*$/2/,','.'"*B*'+*%A'&%'-#<*%/'()*+**:"-#*-&$5Z%"4*$/'A%$*
&%'P$&0%"' +$ &%'-#"()* +$ /2+'-(' +$ $5$/$-&* 4'/"-C' ,'%'5$5'/$-&$ E &%'-#<*%/'()* +$
-+*'%##"/9-*/*/$-&*+'/*%&$+*:*+$9*:"-#*-B"B$#2',%"/$"%'$@,$%"6-4"''A%$'
,'%$+$%*4C*#'82$$#4'5'A:$/#;/:*5*+'+"B"#)*+$#$2$#,;%"&*$-&%$*#+*"#$5$/$-&*#
=X
a-&--%$$U$-;$9'$&U;9-'$#-%%$! $*&.*&*.-2$--$9$$9&&$#<!;9-'$
7-'$-M9= X9,=?WO
=
*5'+*E,'%$+$9$5$/$-&*&$5Z%"4*9'&%3#+$#"':%"'1#$*,5$-*$#,'(*9*,5$-*'%B$%&".$/
82$ '##'5&' *:"-#*- A #;/:*5* +' '&%'()* 82$ ' &$%%' '"-+' $@$%4$ #*:%$ * C$%0" '#9 -*
/*/$-&*9$/82$$-+%$+"&$%/"-''4*-<$4()*+*.%'-+$,','.'"*B*'+*%<$"&*+',$5$+$
-+*'%9 *:"-#*- 'B$-&2%'1#$ -' $#4'5'+' +$ 2/' '%'243%"' +$ /'"# +$ =N ,A# +$ '5&2%'
"-+'&*/'+*,*%4$%&'B$%&".$/9*C$%0"#*<%$2/'$@,$%"6-4"'+$%$.%$##)*E"-<J-4"'82$
,$%/"&$#'-'%#$2&%'2/'"-<'-&"5+$/$+*+$'5&2%'4C$.'+''*'5&*+''%'243%"'4*"-4"+$
4*/ ' B"#)* +$ 2/ .%'-+$ ,3##'%* 4*% +$ *2%* $-B$5C$4"+*9 +$ <*%/' 5*#J-."4'=?
M9= X9,Y9&%'+2()*-*##'O%'-+*'%
4*/:'&$$-&%$$-+%$+"$-+*'%%$5'4"*-'1#$&'/:A/'*$,"#0+"*+*:*+$/*%&*
,*%*:"-#*-',0##2'4C$.'+'E"5C'$-'82$5$/*/$-&*'/*%&$+*'-"/'5#".-"<"4*2'
,%$B'56-4"'+'*%+$/+*C*/$/4"B"5"G'+*#*:%$'*%+$/-'&2%'5+'"5C'9'/*%&$+$-+*'%
#".-"<"4' * $#&':$5$4"/$-&* +' *%+$/ +$ $-+%$+" #*:%$ ' *%+$/ 4"B"5"G'+' +$ *:"-#*-
5A/+$&2+*9*:*+$A2/+*#'-"/'"##;/:*5*+'B"%"5"+'+$$/'#425"-"+'+$#2'/*%&$
"/,5"4'-'+$#&%2"()*+$2/'#$@2'5"+'+$$@452#"B'/$-&$/'#425"-'
9 4*/* &%'-#<*%/'()* +' #$@2'5"+'+$ +$ *:"-#*-9 &*+' ' #2' /$&'/*%<*#$ "-+"4'
-)* ' ,%$+*/"-J-4"' +$ 2/' &$-+6-4"'9 +$ 2/ $5$/$-&*9 /'# #"/ ' <2#)* +$ &*+*# $##'
<*%/'9*-+*'%B*'+*%'&'+*E4'-$5'+$$-+%$+"9'2/'3%B*%$*2'*:'%4*+$,$#4'A*
$5* +$ 5".'()* $-&%$4A2 $ &$%%' *% #2' B$G9 *"-#&%2/$-&* 4*-<$44"*-'+* 4*/ * 4%J-"* +*
:*+$ $@$42&' 4*/ 'P2+' +* B$-&* 2/' /Z#"4' 4','G +$ <2-+"% * 2-"B$%#*9 2/' /Z#"4'
B$%+'+$"%'/$-&$ -$9 "-2/'-'9 82$ $%' '* /$#/* &$/,* ' B*G &$-$:%*#' +' &$%%'9 '
C'%/*-"' +'# $#<$%'# 4$5$#&$# $ * 5'/$-&* %*24* +* .%'-+$ :*+$ #'4%"<"4'+*=?=
M9= X9, 9&%'+2()*-*##'O
##"/9*:"-#*-$$-+%$+"+$"@'/+$#$%*#C$%0"#'-&'.V-"4*#+*4',;&25*$
&*%-'/1#$ "%/)*#9 C$%0"# 4*/,5$/$-&'%$# # P*.*# &$'&%'"# ,%*,*#&*# ,*% $-+%$+" +$
"-B$%#)* +$ ,',A"# $ +$ /'-$82"-# 2#'+*# 4*/* :*+$# $@,"'&0%"*# ,'%' 82'582$% &",* +$
+$#$-&$-+"/$-&* *2 "%%"&'()* +*# 4*/,'-C$"%*# &6/ ,',$5 4'&3%&"4* $ $@&"-.2$/
"-+$<"-"+'/$-&$&*+*&",*+$"-+"#,*#"()*$-&%$$5$#
-4$%%'-+**4',;&25*9*-'%%'+*%'-2-4"''%$&*/'+'+'$#4%"&2%'+*-%M)*%A/9
*+"3%"*%$4$:$'&%":2&*#+"<$%$-&$#$/#$2%$##2%."/$-&*/,%"/$"%*52.'%9*#B*52/$#82$
#$%)*2&"5"G'+*#,'%''&'%$<'#)*45'##"<"4'+*#4*/*B"%.$-#$-)*9/'"#4*/*,'5"/,#$#&*#
2#$P'9A2/'C"#&0%"'4*/,5$&'/$-&$-*B'82$#$%3$#4%"&''5"&"-&''G259,%*B"+$-4"'+'
=?
%-'-* -%9M9= X9,YO
=?=
!'9$-$9-9$*#*!9$$7- -'<$99-$*-;#
&#D9-$$-&-$!% 92M9= X9, O
=>
,*%$-+%$+"9#2:#&"&2"'&"-&'B$%/$5C'+$'-&$#-*B'<*%/'+*-%M)-)*A/'"#2/'
4*%%$()*9 /'# #"/ 2/' <*%/' Z5&"/'9 4*/* ' +' ,%0,%"' /$&'/*%<*#$ +$ *:"-#*- #2'
<2-()*+$#$"-#$%"%-'-'%%'&"B'4*/*$#,$5C*+'<%'./$-&'()*+*C$%0"&'/:A/A$5"/"-'+'
)* C3 /'"# &$@&*# '5&$%-'+*# $-&%$ -'%%'()* $ -%M) 4',;&25* Q 4*/,I$1#$
2-"<*%/$/$-&$+'$#4%"&'+*-'%%'+*%$*4',;&25*Q9'#$.2"%94*/,I$1#$+'$#4%"&'$@452#"B'
+*-%M)$%3'#2'Z5&"/'','%"()*-'-'%%'&"B'<%'./$-&'()*+*#2P$"&**:"-#*-$#&3
%$#*5B"+'
D-I%
0#$-4*-&%'/*#*,'%+$!6/$*#-*+A4"/*-*-*'%4'-*/'"*%9*'%4'-*
+*$)*
2'#4%"'-('#+$/)*#+'+'#+"'-&$+$2//2%*82$#"/:*5"G''
"+'+$ #*5'% +$2#1#*5 *42,' &*+' ' ,'%&$ #2,$%"*% +$#&' 4'%&' 82$ 5C$ A
+$+"4'+''"+'+$#*5'%#2#,$-#'$-&%$*&$/,*$'$&$%-"+'+$9$-&%$'
B"+' $ ' /*%&$ *# C':"&'-&$# $#&)* %$B$#&"+*# +$ "-*46-4"' "-<'-&"59 &$-+*
'&"-."+* ' #$@2'5"+'+$ #*5'% 82$9 /'"# '"-+' 82$ '-+%*.;-"4'9 A /'#$%,$-&$/*%+$-+*1#$*%':*A'<".2%'+$##$<$4C'/$-&*$%0&"4*#*:%$
$5' /$#/'9 #$/ ,$%+' -$/ +'-* ` * G6-"&$ +' ,$%<$"()* C2/'-'9
"-<"-"&'/$-&$+"<;4"5+$4*-82"#&'%9/'"#+"<;4"5'"-+'+$/'-&$%'%$4$82$
B*46 A 4C'/'+* ' $5$B'%1#$ '&A $5' * /$-*# * &'%V $.;,4"* * +"G=?
M9= X9,==1=9&%'+2()*-*##'9.%"<*+*'2&*%O
6-<'#$ +'+' '* *5 -' "4*-*.%'<"' +* '%4'-* +$G$-*B$ 4*-+"G 4*/ ' "/,*%&J-4"'
'+82"%"+' ,$5* '#&%* -* 4',;&25* Q *&'5/$-&$ B*5&'+* ,'%' ' 4*-&$/,5'()* $ $@'5&'()* +'
$#&%$5'9 *:"-#*- $#&3 $/ ,$%<$"&' C'%/*-"' 4*/ * #$2 4*/,'-C$"%* $ -* ',*.$2 +$ #2'
$B*52()*
*5,*+$#$%&*/'+*&'/:A/4*/*#;/:*5*+$%$'5"G'()*,5$-'$4*-$@)*,$%<$"&'
+* C$%0" 4*/ * #$2 $#,'(* "/'.$/ +*# +*"# /$-"-*# '52+$ ' *:"-#*- $ $-+%$+" '
/$#/'<*%/'9-*'%4'-*82"-G$9*
"':*9'#+2'#<".2%'#5".'+'#,*%2/'4*%%$-&$'*,A+*
=?
$'-&-/9<-<M'D6*-;2< $
$$&-'$!.--$9-2M--&$$-#$$$
-!-$992-$9-U&$-$&$-;9$$9*$-'$-$U-
#$$ $ ':$ ; $* .$ 99 7 - <-$9 - !* &- !;%.!*$2
&$$-!$- %$$9$!---M
:* &$ '2 ;$ - F9$# - & $ #* $ - 7 !9* &-
-7%2--!'.F&&-97'9-'6!M-72-$$9%.&$-
$M-2M9= X9,==1=9.%"<*+*'2&*%O
=Y
+"':* %$,%$#$-&'B'/ *# 4*/,'-C$"%*# # .6/$*#9 ,%$#$-&$# $/ +"B$%#'# /"&*5*."'#
#"/:*5"G'/'2-")*+$+"<$%$-&$#'#,$4&*#94*/**/*%&'5$*"/*%&'59*&$%%$#&%$$*+"B"-*9
82$#$<*%&'5$4$/2-"+*#9/'##$,'%'+*##)*<%'4*#
W?=',;&25*Q
"-'5/$-&$ 4C$.' ' <'#$ #*5'% +* C$%0"9 %$."+' ,$5* $5$/$-&* <*.* +$#4%"()* +*
6@&'#$ +$ *:"-#*- '* -'#4$% +* #*5 A %$,5$&' +$ #;/:*5*# '#4$-#"*-'"#9 "-+"4'-+* '
&%'-#4$-+6-4"'+$#2'$B*52()*/'+'#"/'.$-#/'"#%$,%$#$-&'&"B'#+$#4%$B$*#%'"*#+*
#*5&*4'-+*,%"/$"%*'4':$('9+$,*"#':*4'$$-<"/*#*/:%*#+$*:"-#*-F4$-'#"/"5'%E
#'.%'()* +$ 2/ 4'B'5$"%* *:"-#*- &*%-'1#$ $-&)* 4'B'5$"%* #*5'% */ #$2 4*%,* &*+*
:'-C'+*,$5'52G+*#*59*:"-#*-'#4$-+$E4*-+"()*+$2/+$2#/"5+"'+$/'#$/"54$&%*#
+$52G4*:%"'//"-C'$#&3&2'#*:%$1C2/'-'=?>M9= X9,=W9&%'+2()*-*##'O
5$B'+* ' &'5 4*-+"()*9 * &$/,* '+82"%$ *2&%' 4*-*&'()* -' B"+' +$ *:"-#*-
&$/,*4;45"4*+*#+$2#$#&*%-'1#$*&$/,*+'$@"#&6-4"'+*C$%0"*:"-#*-#$-&$4'+'B$G
/'"#'':*5"()*+*&$/,*4%*-*50."4*$/,%*B$"&*+$2/&$/,*4"%425'%$$&$%-*4*-4$"&*
+$$&$%-*82$#$',5"4'E*:%''4*%+'4*/*,$-#'/$-&*,%"/"&"B*-*82'5
' "/*%&'5"+'+$ -)* +$B$ #$% 4*-4$:"+' 4*/* 2/' #*:%$B"B6-4"' &$
$9/'#4*/*2/'#"&2'()*82$#$4*-#&"&2"4*-&"-2'/$-&$9E82'5-*#
,%$,'%'/*#$/$#/*+'82'5,'%&"4",'/*#%=%9','%&"%+$#&$
/2-+* -)*1/*%&$9 ' "/*%&'5"+'+$ +$B$ #$% 4*-4$:"+' $-&)* 4*/* 2/'
#"&2'()*15"/"&$9#"&2'()*"+$'5$/+"%$()*E82'5*C*/$/#$"-45"-'+$&*+*
#$2 #$% $ 82$ #$ $#<*%(' ,*% 4*-82"#&'% /*%%$-+* $ %$##2#4"&'-+*
4*-&"-2'/$-&$=?YM
9= NX9,X 9.%"<*+*'2&*%9&%'+2()*-*##'O
*%#2'B$G9&*+'%$<$%6-4"':;:5"4'A$5"/"-'+'$#2:#&"&2;+',*%%$<$%6-4"'#,'.)#9$/
$#,$4"'59E/"&*5*."'.%$4*1%*/'-'-*B'%$5".")*+$*:"-#*-A%$."+',*%$-+%$+"982$
=?>
=?Y
--D$--&$-D'$$$#2M9= X9,=WO
-;$-$9$&:$8'',*#&/*%&$/*$$!;
9$--$*7-!--&9&$:7-!--&$&
*DM
2M$*-;$-$9$:$8-$$M-$*$$9-'-!--
-;# $ $$ :$ $ !;- ; !9 $ $ $$ $--$2
M
9= NX9,X 9.%"<*+*'2&*%O
=N
%$,%$#$-&' * <"/ +' $%' 4%"#&) $@&'1<$"%' A9 #$ $2 -)* /$ $-.'-*9 * +"' +$ 6-2# 2
'4%$#4$-&*82$,'%'*#4%"#&)*#A*+"'+'/*%&$+*%"#&*'#4"/$-&*+$6-2#9/*%&$+$
%"#&*=?NM9= X9,?9&%'+2()*-*##'O
$.2-+*'/"&*5*."'9'+$2#'6-2#A<"5C'+*4A29%'-**:"-#*-4*-#4"$-&"G'1#$
82$ ' B"-+' +$ $-+%$+" &"-C' 2/' <2-()* 6-2# -)* #'"2 +'# 3.2'# $ -)* ,"#*2 /"-C'#
&$%%'# ,'%' /$ #$+2G"%9 /'# ,'%' /$ +"%$4"*-'% E <*%(' ,'%' #$2 ,'" =?W
M9= X9, 9&%'+2()*-*##'O
*5&'-+* #2' 5":"+* ,'%' ' 4*-&$/,5'()* #*5'%9 *:"-#*- '&"-.$ $-<"/ 2/'
#$@2'5"+'+$&%'-#4$-+$-&'5$$5$/$-&'%
"<$%$-&$+'$@,$%"6-4"'#$@2'5'-&$%"*%4*/'$%%'9
#2'# %$5'(I$# 4*/ %'-*9 #)* ,*%&'+*%'# +$ B"+' -)* #$ &%'&' /'"# +$ 2/' ,$%+' +$
#2:#&J-4"' 82$ +$"@' * '-"/'5 &%"#&$ &$ $ $2# '/*%$# 2%'-"'-*# $-4C$/1/$ '*
4*-&%3%"* +$ 2/' $-$%."' B"&'5 82$ /$ +3 <*%('# ,'%' &*+* 2/ +"' $ &*+' 2/' -*"&$=?X
M9= X9,>9&%'+2()*-*##'O*:"-#*-#$-&$1#$<$42-+'+*,$5*4A29%$,$&"-+*
'2-")*,%"/*%+"'5$-&%$4A2$&$%%'9$-&%$!'"'$%'-*
2&%'%$<$%6-4"'E/"&*5*."',%$#$-&$-*4',;&25*Q+"G%$#,$"&*'*%$5'4"*-'/$-&*+*#
+*"# 4*/,'-C$"%*# # .6/$*# $-+%$+" $ *:"-#*-9 P3 '-2-4"'+*# -' 4'%&' +* &'%V9 #)*
4*/,'%'+*#'*#
"0#42%*##!6/$*#+'/"&*5*."'#)*+*&'+*#+$',$-'#2/''5/'"/*%&'5
82$4*-<$%$''/:*#'$@"#&6-4"'$&$%-'$.2-+*'"55'%+M=
>O9$#&$'#,$4&*+'%$5'()*+*#
"0#42%*#$@,5"4''&%*4'+$,',A"#82$'4*-&$4$-*4',;&25*'-&$%"*%
D-J)%
Ca*',%"40%-"*a`',*%&'+$#';+'+'#'5/'#9*/$#/*82$+"G$%'/*%&$
#&$$#82$5$&*82$4$"<'2/',%'+'%"'P2-4'+'+$/)*#9+$,A#$+$4':$('#
$@,%$##':'#&'-&$:$/*#$-&"+*<2-$#&*82$#$5".''$#&'4'%&'%$4","&'+*
=?N
'*;$*6$&*-6925;6$!&-#9$*;$-6-
$#$29*$#$2M9= X9,?O
=?W
9;$&$<$;& -9'%&9*&$ '&D2%'-*#2M9= X9, O
=?X
$-;%$&-;&$$!--;-$$,*#&4*"&2/2
% -$ $ ; 9% '$- ! & $$ 6 $ $$ $2
M9= X9,>O
=W
+* '5&* +' "+'+$ #*5'%9 B*46 $#&3 $/ .%'-+$ ,$%".* +$
/*%&$=??M9= X9,=9&%'+2()*-*##'O
*%&$#2%.$-'&%'P$&0%"'+$*:"-#*--*/*/$-&*+'4C$.'+'+*-'B"*HC"&$:"%+
4'%&' ',*-&' ,'%' /2+'-('#9 &'5B$G 2/ -*B* %$&*%-*'*,'##'+*$#&$P'E$#,$%'+*C$%0"
*/* P3 #$ ,*+$ +$,%$$-+$%9 ' *%&$ A 2/' $&',' <2-+'/$-&'5 -' B"+' +* "-"4"'+* 5'
#".-"<"4'/'"#2/'B$G%$-*B'()*$%$.$-$%'()*,'%'*"-;4"*+$2/'-*B'$&','-&%$&'-&*9
A 4%24"'5 ,'%' *:"-#*- #':$% * 82$ B"%3 ' #$.2"% +$5' '- $R##$5 '5$%&' 82$ #$ <*% 2/
#".-*<%3."59#2'C"#&0%"'$#&3&$%/"-'+'^=? M9= X9,=9&%'+2()*-*##'O
W =',;&25*Q
4C$.'+' +* HC"&$:"%+ E 4*#&' +$ ,$%'-G' -)* '4*-&$4$ #$/ 4'2#'% $#&%'.*# E
*%+$/ $5$/$-&'% B"B"+' ,$5*# .6/$*# 5$ ','%$4$ 4*/* 2/' '/$'(' E $&$%-"+'+$ '&"-."+'
,$5* C$%0" HC"&$:"%+ ,*+$ ,*% <"/ '* ,%*4$##* $B*52&"B* +$ *:"-#*- $/:'%4'()* &%'G
4*-#".**4*-&'&*'%%$:'&'+*%4*/'4"B"5"G'()*':'-+*-'+'$9,*%4*-#$826-4"'9''/$'('+$
/*%&$ / #2/'9 $#&$# C*/$-# $ * 2-"B$%#* 82$ $5$# &%'G"'/ 4*-#".* 4'2#'B'/15C$ 2/
"-#2,*%&3B$5 /'51$#&'%9 82$ $5$ $/,$-C'B'1#$ $/ #2,$%'%= M9 = X9 , >W9
&%'+2()*-*##'O
#&'"/"-6-4"'+'/*%&$'-2-4"'+',$5'#4'%&'#+*&'%V+3#$2#,%"/$"%*##"-'"#'-&$#
/$#/* 82$ *# ,%"/$"%*# &%",25'-&$# 4C$.2$/ E ,%'"' / ,A9 '.2'%+'-+* *# "-$#,$%'+*#
B"#"&'-&$#9 *:"-#*- B"#2'5"G' &*+' ' #2' &%'P$&0%"' -' "5C' 4*/* 2/ /*%":2-+* '-&$# +$
$-&%$.'%''5/'= =M9= X,>Y9&%'+2()*-*##'O
-&%$&'-&*9 #$ ,'%' *:"-#*- ' 4C$.'+' +* HC"&$:"%+ &$/ 2/' "-<526-4"' :'#&'-&$
-$.'&"B'9$/$-+%$+"*-'B"*4'2#'+$#52/:%'/$-&*$$@$%4$<*%&$'&%'()*$#,;%"&*'A%$*
+* "-+;.$-' $@4"&'1#$ +"'-&$ +* 5$82$ +$ ,*##":"5"+'+$# *<$%$4"+'# ,$5* -'B"*9 4*/ #$2#
=??
#N - &N ;$ - &$ $ X* $$ - $2 !-$$ ! # &6#9*&$$:$$F- $!;$$#7$$-2&$9
#$-$9-*':$%%$2M9= X9,=O
=?
;$% -*'$#$$ >M9= X9,=O
= $*#$-;'!;-&&$$'<-$&&$--*
!;-;#$7$2M9= X9,>WO
= =
$'$-;XM9= X,>YO
=X
.%'-+$# /'#&%*# $ #2'# B$5'# :'5'-('-+* '* #':*% +*# B$-&*# '%' $-+%$+"9 2/ .%'-+$
B$5$"%*9$#:$5&*$'2+'4"*#'/$-&$',%$#&'+*4*/*'82$5$9$%'*4*%*'/$-&*&%"2-<'5$4*/*'
',*&$*#$+$#&'4*-82"#&'+*'%= M9= X9,Y9&%'+2()*-*##'O5A/+"##*9'
#"/:05"4'+*B**$#&3,%$#$-&$-*,%0,%"*-*/$+*-'B"*982$#".-"<"4',3##'%*:%'-4*$/
,*%&2.26#
,*##":"5"+'+$+$B*5&'%,'%''-.5'&$%%'*<'G%$<5$&"%#*:%$*,',$5.%'-+"*#*82$
$5$ ,*+$%"' +$#$/,$-C'% 5$B'-+* * %$"-* #*5'% ,'%' ' 4"+'+$ C2/'-' 5$ 4*/,'%'1#$ '*
5$-+3%"*,%*<$&'"%'-"'-*f*%*'#&%*982$',0#'-*#+$"#*5'/$-&*9,'%&$,$5*/2-+*,%$.'-+*
2/'-*B'%$5".")*$#4*5C'+$&'5<"-'5$#&'%"'+$'4*%+*4*/'-'%%'&"B'&;,"4'+*.6-$%*
%*/'-4$+$<*%/'()*9,*%A/*2%-"$%*,&',*%$-4'/"-C'%#2'*:%'$/+"%$()*E#2:B$%#)*9
82$ ' 4'%'4&$%"G' +$#+$ * ,%"-4;,"* $#4*5C' ,$5' <$5"4"+'+$ "-+"B"+2'5 +$ *:"-#*-
,%$B'5$4$ #*:%$ 82'582$% "-45"-'()* #*4"'59 +$ '4*%+* 4*/ 2/ ,$-#'/$-&* "-+"B"+2'5"#&'
4'%'4&$%;#&"4*+*#A425*QQ*%*2&%*5'+*9'B"+'#*4"'5$/'"#'"-+''B"+'+"&'4"B"5"G'+'
-)*4*-+"G$/4*/*2-"B$%#*"-&$%"*%+$*:"-#*-
"<"4"5/$-&$9$5$#*:%$B"B$%"'/2"&*-*
/2-+*'*82'5,$%&$-4"'/*#C*/$-#+*HC"&$:"%+94*%%*;+*,$5''()*+$2/&2%:"5C)*+$
&$/,*9 +$.%'+'-&$ $ /*%&'5 *:"-#*- '##*/:%'1#$ 4*/ ' ,*##":"5"+'+$ +$ $-B$5C$4$% $
+$"@'%+$,'%&"4",'%+'$&$%-"+'+$+$,$%'-G'
<'5&'+$4*-B$%.6-4"'$-&%$*#+*"#/2-+*#$B"+$-4"'1#$-*+"35*.*,%$#$-&$ *2
'2#$-&$ -* 4',;&25* ,%"-4;,"* * +"35*.* 4*/ 2-&$% $/,$-C'B'1#$ 5':*%"*#'/$-&$ $
'/$'('B' ' &*+* "-#&'-&$ #$ ,$%+$% $/ 2/ ,$#'+* #"56-4"*= > M9 = X9 , >X9
&%'+2()* -*##'O '#9 * 4',"&)* +* 2-&$% #'&"#<'G1#$ $/ 4*-&'% #2'# $@,$%"6-4"'# #$/
+$/*-#&%'% ' /;-"/' 42%"*#"+'+$ ,$5' B"+' +$ *:"-#*- '"55'%+ 4C'/' ' '&$-()* ,'%' '
"-4*-#"#&6-4"' +' 4*-B$%#'()*9 *#4"5'-+* #$/,%$ ,'%' * +"#42%#* "-+"%$&* 5"B%$ *2
'##$/$5C'-+*1#$ /'"# ' 2/ /*-05*.* +* 4',"&)* +* HC"&$:"%+ * ,$-#'% 4*/* #$%"'/
%$4$:"+'##2'#"+$"'#9*:"-#*-"/'."-'B'"-4$##'-&$/$-&$ * +"35*.*82$ &$%/"-'%"' ,*% *
*,*%'2/+$#&$#C*/$-#= Y M9= X9,Y>9&%'+2()*-*##'O
$#&'<*%/'9<"4'
$B"+$-&$'"-4*/2-"4':"5"+'+$$-&%$*/2-+*+$*:"-#*-$*+'&%",25'()*+*-'B"*
4',;&25* &'/:A/ $#&':$5$4$ 2/' 4%$#4$-&$ +"#&J-4"' $-&%$ *:"-#*- $ $-+%$+"9
$B"+$-&$,$5'+"<$%$-&$+"#,*#"()*+$$#,;%"&*4*/'82'54'+'2/%$4$:$'B"#"&'+*-'B"**
= %'-*'-$$$%99-M*9$$-;$$$&#-$
-;&$#9$$!:$-;9$#2M9= X9,YO
= >
--%'1$;%%$-$$8$7$$$$&-
&$2M9= X9,>XO
= Y
%$--%! $$&-;&&7-;#M9= X9
,Y>O
=?
$B*4'%9-*<"-'5+*4',;&25*9/'"#2/'B$G'4*/,'%'()*4*/*#
"0#42%*#9*2%-"$%,'%$4$
"-#"#&"% $/ 4C'/'% ' '&$-()* ,'%' ' 5$-+' */* A 4*-C$4"+'9 ' C"#&0%"' 4*-&' 82$ 2/ +*#
"%/)*#4*/,'%&"5C'#2''5/'+"B"-'4*/**2&%*9/*%&'5##$'&*+$'/*%$+$+"4'()*&$/
,*% 4*-#$826-4"' ' #$,'%'()* */,'%&"5C'-+* ' /$#/' '5/'9 *# "0#42%*# -)* ,*+$/
4*/,'%&"5C'%*/$#/*/2-+*##"/9$-+%$+"'*+*&'%*:"-#*-4*/#2',%0,%"''5/'9P3
-)*,*+$%"'/'"#<'G$%,'%&$+*/$#/*/2-+*82$#$2.6/$*
D-5K)%
Z,"&$%a$@45'/*2*4',"&)**:"-#*-9B*46$#&3#'5B*9/'#982$+"':*9B*46
%$&*%-' +$ 5*-.$a *46 "' +"%$&* '* <2-+*9 $ * +$2# +* 4A2 B$"* $/ #$2
'2@;5"*4*/2/''+/"%3B$5*,*%&2-"+'+$5$$-4'%-'1#$$/2/'4%"'-('+$
*2%*9#';+'+'#$-&%'-C'#+'&$%%'14*/*2/',$,"&''%%'-4'+'+$2/'/"-'
1982$5C$+$B*5B$'#4C'B$#+'"+'+$#*5'%= NM9= X9,=1
=>9&%'+2()*-*##'O
,$#'%+*,*24*82$#$,*+$+$,%$$-+$%+'<'5'+$'-
$R##$59'4'%&'82$,'%$4$
'+B"%'*:"-#*--$#&$/*/$-&*A*2-+*'%4'-*#".-"<"4'2/%$-'#4"/$-&*,'%'2/'
$&',' +$ %$'5"G'(I$#9 +$ ',*&$*#$ $ 6@"&* "4*-*.%'<"' +' 4'%&' ',*-&' ,'%' * #$-&"+* +$
&*&'5"+'+$9 ,$5' ,%$#$-(' +$ 82'&%* $5$/$-&*# $/ &*%-* +$ 2/' %*+' #$% '-+%0."-* -*
4$-&%*+'4'%&'%$,%$#$-&''$B*52()*+'#$@2'5"+'+$+$*:"-#*-$'"-&$.%'()*C'%/*-"*#'
+$$5$/$-&*#*,*#&*#
W==',;&25*Q
#'4*-&$4"/$-&*#+*4',;&25*'-&$%"*%,'%$4$/%$&"%'%*:"-#*-&$/,*%'%"'/$-&$+$
#2'$#&'+'<$5"G-'4"+'+$#*5'%$'&"%315*+$B*5&''*#,%"/$"%*#+"'#+$#2'4C$.'+'-'"5C'
' /'-C) +* +"' #$.2"-&$9 $5$ 5$B'-&'1#$ $ 4'/"-C' ,$5' ,%'"'9 -2/' #$/$5C'-(' $B"+$-&$
= N
5&$N;<--&$2*':$'9**!-*''F-N
-F7&*$--''$'-&&$$92-; $
;*$---$U&9&$#97-M*!'--9-$9
-2M9= X9,=1=>O
= 4*/*+"'+*-'2<%3."*#$.2"%9*#,'##*#+$*:"-#*-$/:2#4'+*+$#','%$4"+*$-+%$+"
,'%$4$/%$<'G$%$/'5.2-#/"-2&*#*&%'P$&*+$'-*#+$#4%"()*+*#52.'%$#,*%*-+$,'##'9
#$.2$'/$#/'#$826-4"'+$&*+'#2'&%'P$&0%"'-'"5C'-"4"'1#$,$5'';'+$4*-#&%2()*+*
`B'#"*-$,'##',$5'.%2&'$,$5'*/:$*#'/$#/'4*-#&'&'()*+*#,%"/$"%*#&$/,*#
%$<'G1#$$/#2'/$-&$$5$$#&'B'#*G"-C*-'"5C'
,3."-' +' ;:5"' $-4*-&%'+' ,'%$4$ "-+"4'% 2/' "-$B"&3B$5 %$.%$##)* -' #2'
$B*52()*9'%%'-4'-+*+$5$&*+''$-$%."'<'-&3#&"4'B"-+'+$#$2425&*'*#*5$%$4*/,*-+*'
&$/,*%'5"+'+$ -$<'#&' +*# &$/,*# +' "5C' '+/"-"#&%'+'9 42P* $#,;%"&* %$##2%."' ,'%'
'##*/:%315* '* #$ +$,'%'% 4*/ ' 4*5$"%' +$ $-- $%"' ,%$4"#* &2+* %$4*/$('%9 '#
,5'-&'(I$#9 '# 4%"'(I$#9 '# 4*-#&%2(I$#9 $#,$%'-+* ' #*:%$B"-+' +$ 2/ -*B* %'24'-* 82$
B'%%$%"'&2+*'82"5*,*%2/-;B$5#2,$%"*%b= WM9= X9,N=9&%'+2()*-*##'O
*:"-#*-9,*%A/9+$4"+$1#$,$5'/*%&$-*'5BA*5*'4*-4C$.'-&$+'.%2&'
4%"'-('82$#'"+*"-&$%"*%+'.%2&'9'*/$#/*&$/,*"/,$+$'$-&%'+'+$*:"-#*-9
*2#$P'9$B"&'#2'/*%&$$-'#4$,'%'2/'-*B'$@"#&6-4"'9#';+*+*B$-&%$982$A'*/$#/*
&$/,* #$,254%* ''- #2%.$ 4*/* 2/ #2:#&"&2&* ,'%' $-+%$+"9 82$ ,*+$ C'%/*-"G'%
-*B'/$-&$'$@"#&6-4"'+$*:"-#*--'"5C'#$/$5C'-('<;#"4'$-&%$'#+2'#,$%#*-'.$-#A
,%*,*#"&'5F * /$-"-* ''- A * ,%0,%"* *:"-#*- /'"# P*B$/ 82$ #*:%$B"B$%3 -* 52.'% +*
,%"/$"%*9.'%'-&"-+*'##"/#2'4*-&"-2"+'+$C$%0"+315C$*-*/$+$$2+"9A*+"'+*+$2#
Z,"&$%9+"'+**59$&'/:A/2/#"-'5+$%$-*B'()*$2+"9-'#24$##)*+*#+"'#+'#$/'-'9
'-&$4$+$'$-+%$+"= X
4*-82"#&'+$2/-*B*4*/,'-C$"%*,$%/"&$'*:"-#*-/'"#2/'B$G#$"-#&'5'%-'
$&$%-"+'+$+$,$%'-G'#*5-'#4$-&$B*5&''$@$%4$%#2'"-<526-4"':$-A<"4'#*:%$*C$%0"$
*/$-"-*%$4$:$&'/:A/#2'4*&'+$$-$%."'%$<5$@*#/$&35"4*#"52/"-'%'/1#$-'4':$('+'
4%"'-('= ?M9= X9,NY9&%'+2()*-*##'O
= W
--$M- --$$*-&-$$*-;9-'%*-$$*$$$-';
'-!-$$$-;'&9OM9= X9,N=O
= X
/<%'-46##".-"<"4'$@&'1$"%'$592"-&'1$"%'
= ?
-$9$--!;--D$-$:$-; $2M9= X9,NYO
=>
G'!6L!'
* 5*-.* +$ /"56-"*# * C*/$/ /2+*2 * /2-+* $ ' #" /$#/* -&%$&'-&*9 2/ <'&*
,$%/'-$4$ ".2'5 +$#+$ /2"&* &$/,* '&A *# +"'# +$ C*P$ ' -$4$##"+'+$ C2/'-' +$ 4%"'%
-'%%'&"B'#82$$@,5"82$/$%$,%$#$-&$/*#<2-+'/$-&*#+$#2'$@"#&6-4"')**#4C'/'+*#
/"&*#
#5$-+'#,%"/"&"B'#9*#/"&*#.%$.*#9'#-'%%'&"B'#:;:5"4'#*+*#<*%/'/'.%'-+$
:":5"*&$4' +$ /"&*# +' C2/'-"+'+$ */ * ,'##'% +*# #A425*# $ ' /2+'-(' +$
4*/,*%&'/$-&*#9 '5.2-# /"&*# B)* ,$%+$-+* #2'# <*%('#9 *2&%*# #$ /*+"<"4'/ $ -*B*# #)*
4%"'+*#
*#Z5&"/*##A425*#9*"-+"B"+2'5"#/*/*+$%-*+$&$%/"-*2'','%"()*+$-*B*#/"&*#
5$#2%."24*/*2/'-*B'<*%/'+$$-@$%.'%*,',$5+*C*/$/-'#*4"$+'+$$,$%#"#&"24*/
<*%(' '&A ' '&2'5"+'+$9 /$#/* 82$ &$-C' ,'##'+* ,*% '5&$%'(I$# / #2' .6-$#$9 B3%"'#
-'%%'&"B'# '##2/"%'/ * ,',$5 +$ %$,%$#$-&'-&$# +' /*%'5"+'+$ :2%.2$#' $ $-&%$ $5'#9 #
B$-&2%'#+$*:"-#*-%2#*$9+$
'-"$5
$<*$
*:%' <*" 2/' +'# ,"*-$"%'# +* .6-$%* -'%%'&"B* %*/'-4$9 &%'G$-+* $/ #" 2/'
"-*B'()* +* ,'%'+"./' 5"&$%3%"* &'-&* -* 82$ +"G %$#,$"&* E <*%/' 82'-&* '* 4*-&$Z+*
*-#"+$%'+',*%'-H'&&2/+*#/"&*#+*"-+"B"+2'5"#/*/*+$%-*9#*:%$B"B$2'&A*#+"'#+$
C*P$4*/*#;/:*5*+$-'%%'&"B'$@$/,5'%
*%A/9 /2+'-('# #".-"<"4'&"B'# -' #*4"$+'+$ &6/ 4*-4*%%"+* ,'%' 82$ *
"-+"B"+2'5"#/*&%'-#<*%/$#$2#4*-&*%-*#4%$-('+*C*/$/-'#"-#&"&2"(I$##*4"'"#9#$P'/
$5'#9'<'/;5"'9'".%$P'*2*#4*5$.'#+$&%':'5C*9$#&3$/%2;-'#C*/$/<$4C'1#$4'+'B$G
/'"#-2/'"5C'C':"&'+'',$-'#,*%2/"-+"B;+2*$5$,%0,%"*
! A 2/' -'%%'&"B' 82$ 4*-#$.2$ "52#&%'% 4*/
/'$#&%"' $##' -*B' <'4$&' +* "-+"B"+2'5"#/* 5"B%* 4C'/' '&$-()* +$ /2"&*# $#&2+"*#*#9
+$B"+* ' #$2 2-"B$%#* %"4* +$ #;/:*5*#9 %$<$%6-4"'# /"&*50."4'# $ <"5*#0<"4'#9
"-&$%&$@&2'5"+'+$#9 '5A/ +$ 2/ &$/' <'#4"-'-&$ $-4$%%'+* -2/' C"#&0%"' %$4*%%$-&$ -*
"/'."-3%"*,*,25'%9*/"&*+$*:"-#*-%2#*$
-&%$ '# +2'# *:%'# $#&':$5$4$/1#$ '* /$#/* &$/,* %$5'(I$# 4*-&%'+"&0%"'# $
4*/,5$/$-&'%$# '-35"#$ +'# $#&%2&2%'# -'%%'&"B'# ',*-&' ,'%' ' %$B'5*%"G'()* $ "-#$%$ '
4%;&"4'%"82$G'+$4*/,*#"()*+*&$@&*+$*2%-"$%':%".',*-&*#<2-+'/$-&'"#+'*:%'+$
$<*$+"%$4"*-'-+**#*5C*#+*5$"&*%"-$B"&'B$5/$-&$,'%'**%"."-'5#&$5$"&*%$-4*-&%'1#$9
$-&%$&'-&*9 +"'-&$ +$ 2/' -*B' %$'5"+'+$ ' #2' <%$-&$9 4','G +$ 5$B'-&'% +"<$%$-&$# 82$#&I$#
=>=
'-&$# "-#2#,$"&'+'# -*B* /"&* +$ *:"-#*- %2#*$ #"/25&'-$'/$-&$ -$.'9 '<"%/'9
$-%"82$4$9 +$#,$9 %$&*/'9 '&2'5"G'9 #2:B$%&$ $ '4"/' +$ &2+* B'5*%"G' ' -'%%'&"B' +$ $<*$
%'G"+'+$B*5&''*,'54*+'#+"#42##I$#5"&$%3%"'#9'C"#&0%"'+*-32<%'.*,$%/'-$4$B"B'-*
"/'."-3%"*,*,25'%$&%'-#<*%/',*%B$G$#2/ *5C'%"-.6-2*$/2/2/'$@,*#"()*4%;&"4'9
2/','##'.$/4*-#"+$%'+''-&$#+$#"-&$%$##'-&$$/*:P$&*+$+"#42##)*$2/#$5B'.$/$/
2/+$2#
$%"'$#&$*/*/$-&*+$45'##"<"4'%"4C$5*2%-"$%4*/*2//$#&%$,0#1/*+$%-"#&'
*%A/ '4"/' +$ 82'582$% &;&25* *2 -*/$'()*9 $-@$%.'1#$ -* &%':'5C* +$#&$ '2&*% '
+$#,%$-+"+' /*:"5"+'+$ $-&%$ * B$5C* $ * -*B*9 $-&%$ %$'5"#/* $ <'-&'#"'9 $-&%$ %*/'-4$ $
&$#$9$-&%$<"5*#*<"'$/"&*9$-&%$,%*#'$,*$#"'
*,256-4"'+$4*-<5"&*#+$ !'4':',*%$/:2&"%
B'5*%$#<2-+'/$-&'"#,'%''<*%/'()*"-+"B"+2'5$%"'$-&)*<34"5&'@315*$/2/',%'&$5$"%'
4*/* $@0&"4* %*/'-4$ +$ <*%/'()*9 -)* <*##$/ *# ,*%A-#9 '# <2.'#9 *# +"#<'%4$# $ /'"#
2/'B$G9'#2:B$%#)*<*%/'()*+$*:"-#*--)*#$.2$%$.%'#<"@'#9#$P'/$5'#5"&$%3%"'#
*2/*%'"#
` 45'%' ' 4*-&%'+"()* "/'-$-&$ +' <*%/'()* +$ *:"-#*- 4*/* 2/ C*/$/ -*B*9
,*"#'#2'$B*52()*A:$/#24$+"+'$-82'-&*%$&"%'+$5$$@'&'/$-&$'$##6-4"'C2/'-'9$/
2/'$B*52()*+"%$4"*-'+','%''B"+'$/#2'#<*%/'#/'"#&%'-#4$-+$-&'"#/'B"+''5C$"'
'* &$/,* 4%*-*50."4*9 %$."+' ,$5' 4"%425'%"+'+$9 *-+$ 4'+' +"' A 2/ -*B* %$4*/$(*
*:"-#*-$B*52"P2-&*4*/*#$2/$"*9'"5C'982$-)*4*-C$4$,'##'+*9,%$#$-&$*2<2&2%*
/,*##;B$5:2#4'%$/*%*/'-4$+$<*%/'()*+$2/C*/$/9,*"#*,%*4$##*+$#2'
<*%/'()*+"%$4"*-'1#$,'%'2/'+$"<"4'()*
*2#'+"' +$ $/,%$$-+$% &'5 <*%/'()*9 $-&%$&'-&*9 -)* $-4*-&%' #2' #*52()* -*
82*&"+"'-* /$+;*4%$ +' #*4"$+'+$ /*+$%-' <*%/'()* &)* '/:"4"*#' +$ *:"-#*- :2#4'
#2'# <*-&$# -2/' A,*4' $/ 82$ ' $@"#&6-4"' +* C*/$/ -)* $%' &)* "-#".-"<"4'-&$ ,'%' '
4*/,*#"()*+*2-"B$%#*9,*"#'##2'#'(I$#%$,$&"'/'#'(I$#+*#,%0,%"*#+$2#$#C*/$/
,%"/"&"B*4*-#"+$%'1#$,'%&$<2-+'/$-&'5$"/,$%$4;B$5+*4*#/*#9*<$%$4$-+*2/'#*52()*
,'%'&*+'#'#<%2#&%'(I$#C2/'-'#)*4':$'*C*/$/82$#&"*-'%$B"+6-4"'+'-'&2%$G'
B"B' A ' ,%*B' 4':'5 +$ 2/ ,*+$% #*:%$-'&2%'59 +$ 2/' $@"#&6-4"' '5A/ +* -*##* /2-+*
4*-C$4"+**:"-#*-%2#*$+$"4C$5*2%-"$%%$#*5B$#$2#&%'2/'#+$C*/$//*+$%-*-*
$-4*-&%*4*/*##;/:*5*#,%"/"&"B*#94*/*"-4*-#4"$-&$94*/*#$/$@,5"4'()*
&%'P$&0%"' +$ *:"-#*- %$<'G *# ,'##*# +$ 2/ -$0<"&* +'# #*4"$+'+$# '%4'"4'# *
<"-'5 +' *:%' $-4*-&%'1#$ 2/ *2&%* C*/$/9 $/ -'+' #$/$5C'-&$ '* 82$ #$ 4*-C$4$2 -'#
,%"/$"%'# ,3."-'# +* 5"B%* ` -'&2%'5 82$ #$P' '##"/9 ,*"# * B$5C* C*/$/ $@"#&$-&$ $/
=>
*:"-#*-/*%%$29-)*2/'9/'#+"B$%#'#B$G$#9'&A82$-)*%$#&'##$/'"#-'+'$@*9/*%&$9
**2&%*$$2,$%+$/'%$<$%6-4"'4*/2/$'##2/$/4'%'4&$%;#&"4'#&%'-#4$-+$-&'"#
/,*+$1#$'&$-&'%,'%'$#&$'#,$4&*4*/*,'%'/2"&*#*2&%*#82$4*/,I$/
'*:%'$#&2+"*#*$-4*-&%'%$<$%6-4"'#'*&'%V9E/"&*5*."'.%$4*15'&"-'9E;:5"'9'+"B$%#*#
"-&$%&$@&*#9$'#':*%+'.$-#B'%"'/$//2"&*##$-&"+*#)*A*4'#"*-'582$*,%"/$"%*5"B%*
+$ "4C$5 *2%-"$% &$-C' #"+* %$4$:"+* 4*/ 5*2B*% $ 4'2#$ &'-&'# $#,$425'(I$# *:%'
,'%$4$42/,%"%/'."#&%'5/$-&$'<2-()*9&)*4'%''*2%-"$%9+$5":$%&'%1#$+$#$2'2&*%,'%'
$-&%$.'%1#$ '*# #$2# 5$"&*%$# )* A9 ,*%&'-&*9 4*/ "-&$-()* +$ %$#&%"-."% ' 2/' Z-"4'
"-&$%,%$&'()* 82$ #$ ',%$#$-&' $#&$ &%':'5C*9 /'# $#,$%'1#$ 82$ ,*##' <".2%'% -* %*5 +$
B'%"$.'+*#*5C'%$#+'*:%'+$*2%-"$%
*-&2+*982'-+*#$&%'&'+$2/,*$/'92/%*/'-4$*22/'*:%'+$&$'&%*9
',%$#$-('+$2/'&$#$9<*%/25'+'+$/'-$"%'$@,5;4"&'$#$/'/:".2"+'+$#9
+$#/$%$4$.%'B$/$-&$*B'5*%+'*:%']^_$%&'/$-&$92/%*/'-4$,*+$
4*-&$%2/'&$#$9/'#A"/,*%&'-&$82$#$P'*5$"&*%9-)**$#4%"&*%982$/'
"-&%*+2G'9,*"#'"-&$%,%$&'()*&$-+$-4"*#'*2-)*A4*/,$&6-4"'',$-'#
+* ,%"/$"%*9 $ ' ,52%'5"+'+$ +$ "-&$%,%$&'(I$# -* Z5&"/* 4'#* &)*
-2/$%*#'# 82'-&* *# ,%0,%"*# 5$"&*%$# %$B$5' * B'5*% $ ' %"82$G' +'
"-B$-()*,*A&"4'9%*/'-$#4'*2&$'&%'5+*,Z:5"4*= M9= W9,
=>9&%'+2()*-*##'O
=
%* $$ &* '- $$* - & $*
-<&.%b*$%'$-'--2=>?$*
'-&$$*&&$$!--$*-$*!-$F*&-
$&$cU$Uc-&$-&*.-&--$&$U
d-$ $ - && -$ U '- - '- . - !F - 'c &9$*
'-$$--&d-2M9= W9,=>O
=>>
!!M'
1l95*%$-4$%,%%+P
!%2
'%"#%/'-+*5"-9N
9'%#C'55$%3Q
%"%''B$-&2%'+'/*+$%-"+'+$
%'+2()*+$'%5*#$5",$*"#A#$-''%"'*%"'&&")*'25**/,'-C"'+'#$&%'#9
= ?W
9!$%+#2P$"&*$'-*%/'-9+'2&*M*%.O2)*'25*
*/,'-C"'+'#$&%'#9= 9,YX1W
`9%5$&&$-B$%#"*-:A-".-$9"-B$%#"*-/'5".-$-
[119= 9$%"#R1'1'55$=
=)"
$%'4&$#^'%"#!'55"/'%+9= =9,=X1N>
`9%5$&&$)"
$%5$%*/'-/R&C*5*."82$'%"#*#A*%&"9= ??
9C*/'#(%%%
%=R,H.
SC"#&0%"'#+$
+$2#$#$C$%0"# $+)*'25*+"*2%*9
192G'--$%H%,%=T%=,Y$+
)*'25*!5*:*9>
9
'-"$5(=
(%.%%T
%T"%%'+2()*+$5#'-+%".'"%'1"-&%'2%*,'1/A%"4'9= XN
9'%4$5%%3.%%'+2()*+$'%/$/'B'54'-&""*+$'-$"%*
*%.$f'C'%9= ??
9"%4$')U"T(UP'%"#!'55"/'%+= NX
9"%4$'U"
V3
%'%"#!'55"/'%+9= W 9"%4$'%%%%'+2()*+$'-2$5'*%%$#"*+$'-$"%*+"(I$#
X9= ? =>Y
9"%4$')%%%%%%'+2()*+$*#A-&*-"*$#4C"-)*'25*
$%42%R*9= `
"&&A%'"%$#)"
$%$-+%$+"*2$#"/:$#+2'4"<"82$
"#,*-;B$5
$/mC&&,77ggg$&2+$#15"&&$%'"%$#4*/7&*2%-"$%1B$-+%$+"15"/:$#1,'4"<"82$,C,n4$##*$/
Y#$&W
d
*-&%*+2()*9&%'+2()*$4*/$-&3%"*+$2+*%*+$*2#')*
'25*
2'#"+'+$#9= XY
!9i"%#&R$,'R#'.$+$5L':#*52-
[119= 9$%"#R1'1'55$==
)"
$%'4&$#^'%"#!'55"/'%+9= =9,=>N1=YW
9+g'%+*%.'-%%%%'+2()*+$'%"'$5$-''%&"-#)*
'25*!5*:*9= ??
[9*%&C%*,%&82'&%*$-#'"*#%'+2()*+$A%"45$#2.6-"*+'
"5B''/*#)*'25*25&%"@9= NX
H9%"4(%
:O2%*,'=X? 1=?Y?= $+%'+2()*+$'%"'
$%$G'*,$#$"@$"%'$'%4*#$-4C$5"*+$'-$"%*'G$$%%'9= XX
H9%"4%>%:%$B$#A425*QQ= =Y1=
'%4*#'-&'%%"&')*'25**/,'-C"'+'#$&%'#9= N
=$+%'+2()*+$
9"-+'%3%Q)%%C"#&0%"'9&$*%"'9<"4()*%'+2()*+$
"4'%+*%2G"*+$'-$"%*/'.*9= =MA%"$*.*&$4'O
9$-%"%U%C"#&*"%$+2425&$+$'44C2#'%"#'R*&9= X
!9'%5!2#&'B"%&.%
%%'+2()*+$'%"'Z4"'"-C*"*+$
'-$"%**B'%*-&$"%'9= XX
i1!9'%"#c'
$5'<*%/$$&+2<*-+5$%$+*2:5$/$-&+"#42%#"<-
[119
= 9$%"#R1'1'55$==)"
$%'4&$#^'%"#!'55"/'%+9
= =9,X 1 >
=>N
i9%"#4"55'"82$"%'$C2/'5"-.2'.$/<$"&"4$"%'"*+$'-$"%*'2'+9
= N
9H"5/''&%;4"''%G'%"
"-'%+*?%&%2-%-'C"#&*%"'+'
5"&$%'&2%')*'25*+-$#,9
9"4C$5%.,*2%-"$%2'%"#'&C'-9
= >
`9%'-(*"#$)"
$%'%"#"$%%$$5<*-+9= ??
!9'%"$$&'%*&$&$#A&A*%$#-
[119= 9$%"#R1'1'55$==
)"
$%'4&$#^'%"#!'55"/'%+9= =9,>Y=1>WN
!9C"$%%RL'%.2/$-&*-&*5*."82$4*//$/*#&%'-4$-
[119= 9$%"#R1'1
'55$==)"
$%'4&$#^'%"#!'55"/'%+9= =9,=WY1=?X
9'55"$=%C2/'P*%-'+''%82$&;,"4')*'25*25&%"@9=
9A.-"$%2P$2+2T%$$&+$5L"/,'"%M,'&$%-"&A$&4*2,5$O-
[119= 9$%"#R1'1
'55$==)"
$%'4&$#^'%"#!'55"/'%+9= =9,?W1==
9*'B$-&2%'+$*2#'
A%
*#*4"'5$*,*5;&"4*-',0#1
/*+$%-"+'+$X$+)*'25**%&$G9
9"4C$5%(%()"
$%]= 1_-&%$B"#&'+*%$*-$55'
%'&*'%2#*
"#,*-;B$5$/mC&&,77$%$gC*-&"4*-2-*"&7'%4C7%"B"7-'%%'%$7&*2=<%<%C&/n
4$##*$/=#$&W
9"4C$5!
(
%
(%-*&'#+$5$4&2%'%'+2()*+$*#A2"#"B'#
*-+*+$25&2%'4*-0/"4'A@"4*9= W
9"4C$5%
.,'%"#!'55"/'%+9= X
=>W
H9'-A%%%$#&2+*##*:%$
$<*$9"4C'%+#*-$"$5+"-.%'+2()*
+$"5+$.'%+$"#&)*'25**/,'-C"'+'#$&%'#9= H9'-)%%(
%%%2'2#&*9
*/2"@*&$9
*/2'-$
*:"-#*-%2#*$%'+2()*+$3%"**-&$#"*+$'-$"%**%.$f'C'%9= X
H9'@3%%&%%
%2%'+2()*+$'%"'%$-$+$
2$"%*G$%%$"%'G/%$4#3-R"$'/3#0G#$<3%&*-i3%*5RG/%$4#3-R")*'25*
"*-$"%'9= WX
H9"4C'$5-&$%&$@&2'5"&A$&$#&CA&"82$-
[119= 9$%"#R1'1'55$=
=)"
$%'4&$#^'%"#!'55"/'%+9= =9,X1Y>