VIII SEMINARIO DE LA RED ESTRADO
Educación y trabajo docente
en el nuevo escenario latinoamericano
Entre la mercantilización y la democratización
del conocimento
!"#$#%&'()*%
! " #$ " %&'( " )* " +% " ,-*%,./0 " )* " +% " 1*) " 2%3.0'%4*-.,%0% " )* " 5(36).'( " ('7-*"
8-%7%9' " :',*03* " ;15: " 5<81!:=>? " -*%+.@%4'( " *0 " 2.4% " 06*(3-' " ABBB"
<*4.0%-.'? " *0 " 60% " ,'C6036-% " ,%-%,3*-.@%)%? " D'- " 60 " +%)'? " D'- " 60% " ,-.(.("
.03*-0%,.'0%+ "E6*"0'"-*,'0',* "D-*,*)*03*("*0"+'("F+3.4'("G$"%&'(?"C"D'-"
'3-'?"D'-"+%").H*-(.)%)"C",'4D+*9.)%)")*"+'("D-',*('("D'+I3.,'("*0"4%-,J%"*0"
+% " -*K./0? " %+K60'( " )* " +'( " ,6%+*( " (* " )*L.0*0 " D'- " 'D'(.,./0 " % " +%( " D'+I3.,%("
0*'+.7*-%+*(")*"+%")M,%)%")*"+'("NO$P"50"*(3%",'C6036-%"%)E6.*-*"-*+*H%0,.%"
*+ " 3*4% " ,*03-%+ " )* " +% " ,'0H',%3'-.%Q " R5)6,%,./0 " C " 3-%7%9' " )',*03* " *0 " *+"
06*H' " *(,*0%-.' " +%3.0'%4*-.,%0'Q " *03-* " +% " 4*-,%03.+.@%,./0 " C " +%"
)*4',-%3.@%,./0")*+",'0',.4.*03'SP"T.(3/-.,%4*03*?"*+",'0',.4.*03'"J%"(.)'"
60"%(D*,3'",+%H*")*"+'("D-',*('(")*")*(%--'++'?"D*-'"J%"K%0%)'"60%"06*H%"
(.K0.L.,%,./0"*0"+%"L%(*"%,36%+")*"K+'7%+.@%,./0",%-%,3*-.@%)%"D'-"*+"%H%0,*"
)*"+'("D-',*('(")*"D-.H%3.@%,./0"C"4*-,%03.+.@%,./0")*"3')%("+%("*(L*-%(")*"
+%"H.)%"(',.%+P"
5+"3*4%",*03-%+")*+"(*4.0%-.'"76(,%")%-",6*03%"3%03'")*"+%("+6,J%("H.K*03*("
,'4'")*"+%("'-.*03%,.'0*("D'+I3.,%(",'03-%).,3'-.%("*0"*+",'03.0*03*"*0"3'-0'"
%"+'("4')'(")*",'0(3-6,,./0"C").(3-.76,./0")*+",'0',.4.*03'"C"%+"+6K%-"E6*"
+%("3-%7%9%)'-%("C"+'("3-%7%9%)'-*(")',*03*("',6D%4'("*0"*(3'("D-',*('(P"
U603' "%+ " "3*4% " ,*03-%+?" +%( "D'0*0,.%( "*0 " " +'( "D%0*+*( "C "*0 " +%( "4*(%( ")*"
3-%7%9' " (* " *(3-6,36-%0 " *0 " 3'-0' " % " *9*( " E6* " ).(,63*0 " +% " 0%36-%+*@%? " +'("
D-',*('( " C " +%( " ,'0).,.'0*( " )*+ " 3-%7%9' " )',*03*V " +%( " -*K6+%,.'0*( " )* " +%"
,%--*-%V"+%"'-K%0.@%,./0")*+"3-%7%9'"*0"+'(").L*-*03*("0.H*+*(")*+"(.(3*4%"C"*+"
(.0).,%+.(4'")',*03*V"+%"(%+6)"C"*+"3-%7%9'V"+%("D'+I3.,%("C"+'("D-',*('(")*"
L'-4%,./0V"+'(")*7%3*("3*/-.,'("C"4*3')'+/K.,'("*0"+%(".0H*(3.K%,.'0*("C"+%"
)',*0,.% " C " +%( " -*+%,.'0*( " )* " KM0*-' " C " +% " ).H*-(.)%) " ,6+36-%+ " C " M30.,%P"
8%47.M0 " (* " .0,+6C*0 " ).(,6(.'0*( " %,36%+*( " ('7-* " *+ " 3-%7%9' " )',*03* " *0"
,'0).,.'0*(")*"*4*-K*0,.%"C"60"3*4%")*"%K*0)%",'4'"*+")*"+%("D'+I3.,%(")*"
*H%+6%,./0")*"+'(")',*03*(P
2% " 15: " 5<81!:= " L6* " ,-*%)% " % " L.0*( " )* " #OOO? " *0 " +% " D-.4*-% " -*60./0 " )*+"
W-6D' " )* " 8-%7%9' " X5)6,%,./0? " 8-%7%9' " C " 5Y,+6(./0 " <',.%+X " )*+ " Z'0(*9'"
2%3.0'%4*-.,%0'")*"Z.*0,.%("<',.%+*(";Z2!Z<=>?"E6*"(*"++*H/"%",%7'"*0"1.'"
)*"U%0*.-'";[-%(.+>P"2%",-*%,./0")*"*(3%"1*)"L6*"D-')6,3'")*"+%",'0('+.)%,./0"
)* " 60 " ,%4D' " )* " *(36).'( " -*L*-.)' " %+ " 3-%7%9' " )',*03*? " % " D%-3.- " )* " +'("
)*(%--'++'( " E6*? " )*()* " ).L*-*03*( " D*-(D*,3.H%( " C " ).(,.D+.0%(? " H*0I%0"
-*%+.@%0)' " 064*-'('( " .0H*(3.K%)'-*( " +%3.0'%4*-.,%0'( " *0 " H%-.%("
.0(3.36,.'0*(?"D-.0,.D%+4*03*"60.H*-(.)%)*("C"(.0).,%3'(P
! " +' " +%-K' " )* " *(3'( " #$ " %&'( " )* " *Y.(3*0,.%? " +% " 15: " 5<81!:= " ,-*,./"
*YD'0*0,.%+4*03* " C " (* " L'-3%+*,./ " D'- " ).H*-('( " 4*).'(Q " .03*-,%47.'( " )*"
*YD*-.*0,.%(?"*0,6*03-'(")*".0H*(3.K%)'-*(?"3-%7%9'(")*(%--'++%)'("*0"L'-4%"
,'09603%"D'-"%+K60'(")*"(6("4.*47-'("C?"D%-3.,6+%-4*03*?"D'-"+%").L6(./0"C"
,'460.,%,./0"E6*"J%"D*-4.3.)'"*+"4*).'"H.-36%+P
5+ " (.K0.L.,%3.H' " ,-*,.4.*03' " )* " +% " 15: " (* " *YD-*(% " *0 " +% " 46+3.D+.,.)%) " )*"
D-'H*0.*0,.%( " )* " +'( " .0H*(3.K%)'-*( " E6* " +% " ,'4D'0*0 " ;[-%(.+? " !-K*03.0%?"
\MY.,'? " ZJ.+*? " Z67%? " Z'+'47.%? " 5,6%)'-? " ]*-F? " A*0*@6*+%>P " 8%47.M0 " (*"
4%0.L.*(3% " *0 " +% " *YD%0(./0 " )* " +'( " D%-3.,.D%03*( " *0 " +'( " (.*3* " *0,6*03-'("
'-K%0.@%)'( " *0 " *+ " D%(%)'? " *0 " 1.' " )* " U%0*.-' " ;#OOO " C " ^$$_>? " W6%)%+%9%-%"
;^$$#>?"[*+'"T'-.@'03*";^$$^>"C"[6*0'("!.-*(";^$$`?"^$$a"C"^$$G>?"*0"+'("
E6*"D%(%4'(")*"-*60.'0*("'-K%0.@%)%("D'-"60"K-6D'")*".0H*(3.K%)'-*("%"
*H*03'( " %7.*-3'( " 46C " 064*-'('(P " 50 " *(* " (*03.)'? " *+ " F+3.4' " (*4.0%-.'?"
-*%+.@%)' " *0 " *+ " ^$$G? " (.K0.L.,/ " 60 " %H%0,* " )* " D%-3.,6+%- " .4D'-3%0,.%? " E6*"
,'03/",'0"4b(")*"_$$"3-%7%9'("*0H.%)'("cd$$")*"*++'("%D-'7%)'("D%-%"(6"
*YD'(.,./0c"C"4b(")*"e$$"D%-3.,.D%03*(".0(,-.D3'(P"
2% "-*%+.@%,./0 ")* " *(3* " ABBB "<5\Bf!1B= " :5 " 2! "15: " 5<81!:= ",'0(3.36C* " +%"
,'03.06.)%) " )* " +%( " D-'D6*(3%( " )* " )*7%3*? " L'-4%,./0 " C " 3-%7%9' " ,'+*,3.H'"
)*(%--'++%)%("*0"*(3'("%&'("C"60")*(%LI'"D%-%"(*K6.-"*YD%0).*0)'"+%"1*)"*0"
3')% " +% " -*K./0P " 5+ " ABBB " <5\Bf!1B= " :5 " 2! " 15: " 5<81!:= " ,6*03% " ,'0 " `_$"
3-%7%9'("*0H.%)'(?"^a_"%D-'7%)'("D%-%"(6"*YD'(.,./0"C"D67+.,%,./0"C"4b(")*"
#$$$".0(,-.D3'(P
5(3%"D-.4*-%")M,%)%")*"*Y.(3*0,.%")*"+%"1*)"0'("-*60.4'("*0"2.4%"D%-%"
-*0'H%- " 06*(3-% " %D6*(3% " C " ,'0('+.)%- " *(3* " *(D%,.' " )* " .03*-,%47.' " )*"
.0H*(3.K%,.'0*("('7-*"*+"3-%7%9'")',*03*"*0"!4M-.,%"2%3.0%?",'03-.76C*0)'"
%+ " )*(%--'++' " )*+ " )*7%3* " D'+I3.,'? " %+ " *(3%7+*,.4.*03' " )* " HI0,6+'( " *03-*"
.0H*(3.K%)'-*( " C " *E6.D'(? " C " %+ " L'-3%+*,.4.*03' " )* " *(D%,.'( " ,'+*,3.H'( " )*"
3-%7%9'"C").(,6(./0P
\C-.%4"g*+)L*7*-"C":%+.+%"!0)-%)*"=+.H*.-%"
Z''-).0%,./0")*"2%"1*)"2%3.0'h%4*-.,%0%")*"5(36).'("('7-*"8-%7%9'"
:',*03*"
g*-0%0)%"<%L'-,%)%"C"1'0%+"W%-0*+'
Z''-).0%,./0")*+"ABBB"<*4.0%-.'")*"2%"1*)"5(3-%)'
(+,)$)*%-+".'%)/'0+"'
:%+.+%"!0)-%)*"=+.H*.-%";ig\W?"[-%(.+>"
\C-.%4"g*+)L*7*-";i[!?"!-K*03.0%>"
W-%,.*+%"\'-K%)*";i[!?"!-K*03.0%>"
:*'+.).%"\%-3I0*@";Z851!?"!-K*03.0%>"
\%-.'"]'-3',%--*-'";if\<\"]*-F>"
1'0%+"W%-0*+'";iZT?"]*-F>"
g*-0%0)%"<%L'-,%)%";i[!?"!-K*03.0%>"
!)-.%0%":6%-3*";ig\W?"[-%(.+>"
<%H%0%":.0.@";ig\W?"[-%(.+>"
2IH.%"g-%K%";ig\W?"[-%(.+>"
\%-.%"T*+*0%"!6K6(3'";ig\W?"[-%(.+>
(+,)$)*%-+".'%)/'0+"'-1+('1
!+*Y.":*+K%)'"A.++%06*H%
[%+4*("2'@%0'"\'-.++'
Z%-+'("167M0"Z%4D'4%0*("[-%H'""
T*-0b0"\%33%"<'+I(
U6%0"B0L%03*"Z%--%(,%+
U6%0"1%4/0"A%-K%("[*+3-b0
26I("<'+I("!,'(3%
\%-I%"1'(%+*("]%D%
1'(%"!4M-.,%"!-.@%K%"!-.@'+%
j.++.%4"Z'-3*@"\%+)'0%)'
k(%I%("U*(F("l6.3'"]%-*)*(
(+,)&2-()#%&34)(+
!)%"mH.+%"!((60no'";ig\W?"[-%(.+>
!)-.%0%"Z%0,*++%":6%-3*";ig\W?"[-%(.+>
!+)%"U60E6*.-%"\%-.0";]iZh<]?"[-%(.+>
!+)%"\%@@'3.";i0.HP"5(3b,.'")*"<b?"[-%(.+>
!+*9%0)-%"[.-K.0";i[!?"!-K*03.0%>
m+H%-'"\'-*.-%"TCD/+.3'";ig]*+?"[-%(.+>
!0K*+'"1.,%-)'")*"<'6(%";ig]1?"[-%(.+>
!D%-*,.)%"f*-.";ifBZ!\]?"[-%(.+>
Z*+('"g*--*33.";ifB<=?"[-%(.+>
Z+%6).%"A.%0%";i<]?"[-%(.+>
:%+.+%"!0)-%)*"=+.H*.-%";ig\W?"[-%(.+>
:%0.*+"TP"<6b-*@;i[!?"!-K*03.0%>
:*.(*"\%0,*7'";i51U?"[-%(.+>
:*+L.0%"A*.-%HM";iff5?"!-K*03.0%>
:*'+.).%"\%-3.0*@";Z851!?"!-K*03.0%>
5+.@%"[%-3'+'@@."g*--*.-%;ig5<?"[-%(.+>
5+.@*6"Z+*4*03.0'")*"<'6@%";if5[?"[-%(.+>
54.+.'"W%63J.*-";i%-,.(?",J.+*>
50*.)%"=3'"<J.-'4%";ig<Z?"[-%(.+>
g*-0%0)%"<%L'-,%)%";i[!pZ2!Z<=?"!-K*03.0%>
g+%H.%"8*-.K.";i[!?"!-K*03.0%>
g+'-%"T.++*-3";i[!?"!-K*03.0%>
W*-%+)'"\%K*+%"]*-*.-%"2*o'";ig\W?"[-%(.+>
W.%0"Z%-+'":*+K%)'";if!\?"\MY.,'>
W.(*+*")*"<'6(%";ig]1?"[-%(.+>
\%-.%")%"W-%n%"f/7-*K%"['++4%00";i0.(6+?"[-%(.+>
W-%,.*+%"\'-K%)*";i[!?"!-K*03.0%>
W6(3%H'"g.(,J4%00";!<i?"5(3%)'("i0.)'(>
W6(3%H'"W'0n%+H*(";ig\W?"[-%(.+>
B0q("!((60no'"8*.Y*.-%";ig\W?"[-%(.+>
U*00C"!((%*+";iZTB25?"ZJ.+*>
U'o'"g*--*.-%")*"=+.H*.-%";igW?"[-%(.+>
UF+.'"54I+.'":.0.@"]*-*.-%";ig\W?"[-%(.+>
2*)%"<,J*.7*";ig<Z?"[-%(.+>
2*'0'-%"1*C*(";iZTB25?"ZJ.+*>
2IH.%"\%-.%"g-%K%"A.*.-%";ig\W?"[-%(.+>
\b-,.%"r0K*+%"!K6.%-";ig]5?"[-%(.+>
\b-,.%"=0).0%"A.*.-%"g*--*.-%";ig]*+?"[-%(.+>
\%-.%")%"Z'0,*.no'"]%((*KK.";ig1f?"[-%(.+>
\%-.%"T*+*0%"WP"g-*4":.%(")%"<.+H%";if5<]p!-%-%E6%-%?"[-%(.+>
\%-.%"1'(.4%-C"<'%-*(")'("<%03'(";ig\W?"[-%(.+>
\%-.%"8*-*@%"\%,J%)'";i0.H*-(.)%)")*"Z%4%K6*C?"Z67%>
\%-.%"A.*.-%"<.+H%";igi?"[-%(.+>
\b-.'"26.@"f*H*(")*"!@*H*)'";i5\?"[-%(.+>
\%-.(%"1.7*.-'":6%-3*";ig\W?"[-%(.+>
\%6-'":*+"].0'";ig]*+?"[-%(.+>
\.+3'0"260%"A.)%+";iP!1ZB<?"ZJ.+*>
\C-.%4"g*+)L*7*-";i[!?"!-K*03.0%>
\C-.%4"<'63Js*++";g2!Z<=?"!-K*03.0%>
=+K%I(*("\%6M(";ig]!?"[-%(.+>
]%7+'"B4*0";i[!?"!-K*03.0%>
1'7*-3'"2*J*-";ig1U?"[-%(.+>
1')-.K'"Z'-0*9'";iZTB25?"ZJ.+*>
1'(.4%-")*"gb3.4%";ig\W?"[-%(.+>
<%0)-%"\%-.%"t%u.%"2.%0"<'6(%";i<]?"[-%(.+>
<%H%0%":.0.@";ig\W?"[-%(.+>
<.KL-*)'"ZJ.-'E6*"ZJ60K%";if\<\?"]*-F>
<.+H.%"[%-,'";ifZ'4%?"!-K*03.0%>
<.+H.%"8%4*@"W'0@%+*(";i!\?"\*Y.,'>
<6(%0%"[%-,'";ifZ'4%?"!-K*03.0%>
<6(%0%"Z*+4%0";if51?"!-K*03.0%>
A%+)*3*"Zv,'";ig5<?"[-%(.+>
VIII SEMINÁRIO INTERNACIONAL RED ESTRADO
EDUCACIÓN Y TRABAJO DOCENTE EN
EL NUEVO ESCENARIO
LATINOAMERICANO
PROGRAMACIÓN
Entre la mercantilización y la
democratización del conocimiento
4 de agosto
8:30
a
11:00
MESA DE APERTURA
César Angeles Caballero - Rector de la Universidad Ciencias y Humanidades
Elias Mejía Mejía - Decano de La Facultad de Educación de La Universidad Nacional Mayor de San
Marcos
Vladimiro Del Castillo Narro Decano de La Facultad de Ciencias Sociales y Humanidades de La
Universidad Nacional de Educacion Enrique Guzman y Valle
Diretor de UGEL04 Ministerio de Educación
Pablo Gentili Secretário Adjunto del Consejo Latino-americano de Ciencias Sociales
Dalila Andrade Oliveira Coordinación de La Red Estrado
Myriam Feldfeber Coordinación de La Red Estrado
Mario Portocarrero Comissión de Organización Local
COLONIALISMO, CONOCIMIENTO Y EDUCACIÓN
Pablo Gentili (UERJ/CLACSO, Argentina)
Márcio Pochmann (IPEA, Brasil)
Dalila Andrade Oliveira (ANPEd, Brasil)
Coordenación: Mario Portocarrero (UNMSM, Peru)
Local: Auditorio de La Biblioteca de La Universidad Nacional Mayor
De San Marcos
Paneles Simultáneos
11:30
a
13:30
13:30
a
15:00
15:00
a
17:00
Panel: Naturaleza, procesos y
condiciones del trabajo docente
Delfina Veirabé (UNNE, Argentina)
Celso Ferretti (UNISO, Brasil)
Leonora Reyes (UCHILE, Chile)
Adriana Duarte (UFMG, Brasil)
Coordinación: Ingrid Sverlick (UPBAFLAPE, Argentina)
Panel: Formación docente: políticas y
procesos
Magaly Robalino (UNESCO, Ecuador)
Leda Scheibe (UFSC, Brasil)
Myriam Feldfeber (UBA, Argentina)
Elsa Gatti (UdelaR,Uruguay)
Coordinación: Alda Junqueira Marin
(PUC-SP, Brasil)
Panel: Salud y trabajo docente
Silvia Tamez (UAM, Mexico)
Rodrigo Cornejo (UCHILE, Chile)
Aparecida Neri Souza (UNICAMP, Brasil)
Rosa Arizaga (UCH, Peru)
Coordinación: Ivany Pino (CEDES, Brasil)
Panel: Organización del trabajo y
sindicalismo docente
Olmedo Auris (CGTP, Perú)
Roxana Perazza (Argentina)
Savana Diniz (UFMG, Brasil)
Carlos Gallardo (Colegio de Profesores, Perú)
Coordinación: Maurício Pino (PUCV, Chile)
ALMUERZO
PRESENTACIÓN DE TRABAJOS
Panel Especial
17:30
a
20:00
El nuevo escenario latinoamericano: entre la democratización y la mercantilización del conocimiento
Pablo Imen (UBA, Argentina)
Vírgilio Mendo Romero (UCH, Perú)
Mário Azevedo (UEM, Brasil)
Coordinación: Ronal Garnelo (UCH,Perú)
VIII SEMINÁRIO INTERNACIONAL RED ESTRADO
EDUCACIÓN Y TRABAJO DOCENTE EN
EL NUEVO ESCENARIO
LATINOAMERICANO
PROGRAMACIÓN
Entre la mercantilización y la
democratización del conocimiento
5 de agosto
8:30
a
10:30
PRESENTACIÓN DE TRABAJOS
Paneles Simultáneos
11:00
a
13:00
Panel: Políticas educativas y trabajo
docente
Manuel Iguiñiz (TAREA, Perú)
Livia Fraga (UFMG, Brasil)
Carmen Gloria (PUCV, Chile)
Alejandro Vassiliades (UBA/UNLP,
Argentina)
Coordinación: Marco Ventura (UCH/UNE,
Perú)
Panel: Los docentes en las políticas de
evaluación
Vicente Sisto (PUCV, Chile)
Teresa Bolaños (Ecuador)
Mario Portocarrero (UNMSM/UCH, Perú)
Alvaro Hipólito (UFPel, Brasil)
Coordinación: Roberto Bellido (UCH,
Perú)
Panel: Condición docente y género
Graciela Morgade (UBA, Argentina)
Cláudia Vianna (USP, Brasil)
Elizeu Clementino de Souza (UNEB,
Brasil)
Maria Rosales Papa (UCH/UNE, Perú)
Coordinación: Inês Teixeira (UFMG,
Brasil)
13:00
a
14:30
ALMUERZO
14:30
a
16:30
PRESENTACIÓN DE TRABAJOS
Panel Especial
17:00
a
19:30
Las políticas de evaluación de los docentes
Jenny Assael, (UCHILE, Chile)
Alejandra Birgin (UBA, Argentina)
Edgar Isch (Red SEPA, Ecuador )
Coordinación: Márcia Ondina (UFPel, Brasil)
Panel: Trabajo docente en la
Universidad
Mariluz Arriaga (UNAM, México)
Milton Vidal (U.ARCIS, Chile)
Deise Mancebo (UERJ, Brasil)
Rosario Badano (UNER, Argentina)
Coordinación: Ana Maria Tello (UNSL,
Argentina)
VIII SEMINÁRIO INTERNACIONAL RED ESTRADO
EDUCACIÓN Y TRABAJO DOCENTE EN
EL NUEVO ESCENARIO
LATINOAMERICANO
PROGRAMACIÓN
Entre la mercantilización y la
democratización del conocimiento
6 de agosto
8:30
a
10:30
PRESENTACIÓN DE TRABAJOS
Paneles Simultáneos
11:00
a
13:00
13:00
a
14:30
Panel: Regulaciones de la carrera
docente
José David Alarid Dieguez (UPN, México)
Eliza Bartolozzi (UFES, Brasil)
Fernanda Saforcada (UBA/CLACSO,
Argentina)
Ricardo Cuenca (PUC, Perú)
Coordinación: Maria Vieira (UFU, Brasil)
Panel: Debates teóricos y metodológicos
en las investigaciones sobre trabajo
docente
Miguel Duhalde (AMSAFE/Red DHIE,
Argentina)
Alda Mazzotti (Univ. Estácio de Sá, Brasil)
Juan Rivera Palomino (UNMSM, Peru)
Rosa Maria Torrez Hernandez (UPN,
México)
Coordinación: Maria Rosimary Soares
(UFMG, Brasil)
Panel: Trabajo docente en condiciones
de emergencia
Deolidia Martinez (CTERA, Argentina)
Javier Martinez Campos (PIIE, Chile)
Illionor Louis (CRESFED/FLAPE, Haiti)
Azael Santiago Chepi (Sección 22 del
SNTE-CNTE, México)
Coordinación: Gustavo Villar (UCH, Perú)
ALMUERZO
Mesa de Cierre
14:30
a
16:30
17:00
a
19:30
10 años de la RED ESTRADO
Deolidia Martinez (Argentina)
Alejandra Birgin (UBA, Argentina)
Dalila Andrade Oliveira (Brasil)
Myriam Feldfeber (Argentina)
Coordinación: Pablo Gentili (Brasil, Argentina)
ASAMBLEA Y EVALUACIÓN
CLAUSURA DEL EVENTO
Panel: Condiciones de trabajo y
diversidad cultural y étnica
Orlando Pulido (UPN, Colômbia)
Ronal Garnelo (UCH/UNMSM, Peru)
Leif Korsbaek (ENAH, México)
Sofia Thisted (UBA/UNLP, Argentina)
Coordinación: Maria Elena Espinoza
(UPS, Ecuador)
VIII SEMINARIO DE LA RED ESTRADO
MESAS DE TRABAJOS
Miércoles 4 de agosto
15 a 17 hs.
Eje 1 – Mesa 1ª
Miércoles 15 a 17 hs.
Aula
Coordinador: MIGUEL DUHALDE (AMSAFE/Red DHIE, Argentina)
1
Ensino superior, terceirização e precarização do
ADOLFO IGNACIO CALDERÓN (UTP, Brasil)
trabalho docente. As quatro fases na expansão das HENRIQUE DA SILVA LOURENÇO (UMC,
cooperativas de mão-de-obra docente no Brasil
Brasil)
2
A nova filantropia capitalista e a intensificação
do trabalho docente: reflexões sobre o
voluntariado empresarial
Políticas educativas de los 90 y condiciones
laborales. Un acercamiento a las concepciones
docentes
Trajetória de negociações sindicais de professores
3
4
5
6
O financiamento da educação básica e a
remuneração docente
Remuneraciones de los docentes en chile:
resolviendo una aparente paradoja
MARIA VIEIRA SILVA (UFU, Brasil)
ALINE BARBOSA DE MIRANDA (USP, Brasil)
PAULO V. LAMANA DINIZ (UFU, Brasil)
IRENE MARINA MACERA (UNR, Argentina)
VERA LÚCIA FERREIRA ALVES DE BRITO
(UFMG, Brasil)
VERA LÚCIA FERREIRA ALVES DE BRITO
(UEMG, Brasil).
JUAN PABLO VALENZUELA B. (Universidad de
Chile, Chile).
ALEJANDRO SEVILLA E. (Universidad de Chile,
Chile).
CRISTIÁN BELLEI C. (Universidad de Chile,
Chile).
DANAE DE LOS RÍOS (Universidad de Chile,
Chile).
Eje 3 – Mesa 3A
Miércoles 15 a 17 hs.
Aula
Coordinadora: MARIA DA GRAÇA NOBREGA B OLLMANN (UNISUL, BRASIL)
1
2
3
4
5
Políticas públicas de financiamento da educação
superior brasileira
A globalização, a reforma universitária e a
concepção de universidade: o contexto da formação
do professor
Reuni: passaporte para a intensificação do trabalho
docente?
Fundamentos del modelo curricular integral y
compromisos del trabajo docente
A gestão universitária e a lógica gerencialista:
VERA LÚCIA JACOB CHAVES (UFPA,
BRASIL)
MARIA DA GRAÇA NOBREGA BOLLMANN
(UNISUL, BRASIL)
LUCIENE MEDEIROS (UFPA, BRASIL)
LOURDES TERESA CUEVAS RAMÍREZ
(UAEH, MÉXICO)
MARÍA DEL CARMEN ACOSTA AGISS
(UAEH, MÉXICO)
MARIA EDILENE DA SILVA RIBEIRO
VIII SEMINARIO DE LA RED ESTRADO
reflexões sobre as mudanças das últimas décadas e a
“nova” concepção de gestão.
6
Impactos do novo gerencialismo nas políticas para o
ensino superior
(UFPA, BRASIL)
VERA LÚCIA JACOB CHAVES (UFPA,
BRASIL)
MARIA AUXILIADORA MONTEIRO
OLIVEIRA (PUCMINAS, BRASIL)
JUSSARA BUENO DE QUEIROZ
PASCHOALINO (PBH, BRASIL)
Eje 4 – Mesa 4A
Miércoles 15 a 17 hs.
Aula
Coordinadora: FERNANDA SAFORCADA (UBA/CLACS O, Argentina)
1
2
3
4
Políticas de formação docente: a
epistemologia do modelo de formação no
curso de graduação em pedagogia no Brasil
Formação de professores, políticas
educacionais e trabalho docente na Redestrado
2006 e 2008: um estudo comparativo.
"Políticas de formação de professores no
Brasil: o descompasso entre a proposição e a
objetivação"
Políticas de formação docente: projetos
inovadores
5
Políticas brasileiras de formação de
professores: embates de educadores e os
(des)caminhos instituídos pelas reformas
6
Políticas de formação docente para o
professor dos anos iniciais do ensino
fundamental: a experiência da UESB
LETÍCIA CARNEIRO AGUIAR (UNISUL, Brasil)
ROMILDA TEODORA ENS (PUCPR, Brasil)
SIMONE WEINHARDT WITHERS
(PUCPR/FAEL/RMEC, Brasil)
GISELE MASSON (UEPG, Brasil)
ALBONI MARISA DUDEQUE PIANOVSKI
VIEIRA (PUCPR, Brasil)
MARIA ODETTE DE PAULI BETTEGA (UFPR,
Brasil)
MARIA APARECIDA GUERRA LAGE (UFU,
Brasil)
VILMA APARECIDA DE SOUZA (UFU, Brasil)
BENEDITO GONÇALVES EUGENIO
Eje 4 – Mesa 4B
Miércoles 15 a 17 hs.
Aula
Coordinadora: ELSA CELINA GATTI GARCÍA (ANEP, Uruguay)
1
Políticas e práticas inclusivas no ensino
fundamental de primeira fase
2
Uma proposta sócio-cultural na formação
docente
3
Educación y emancipación. El derecho a la
educación en el siglo XXI
4
Estratégias para um ensino de história
renovado: a pesquisa e o ensino como
formadores de identidade
Algunos problemas de la formación del
5
MARIA MARTA LOPES FLORES
ADRIANA DE OLIVEIRA FREITAS
DULCÉRIA TARTUCI
SUZETE TEREZINHA ORZECHOWSKI
(Universidade Estadual do Centro-Oeste, Brasil)
PATRÍCIA LUPION TORRES (Pontifícia
Universidade Católica-PUC/Pr, Brasil)
ELSA CELINA GATTI GARCÍA (ANEP,
URUGUAY)
FABIANA DE OLIVEIRA BERNARDO (UFOP,
Brasil)
WILLIAM CORTEZ MALDONADO (UCH,
VIII SEMINARIO DE LA RED ESTRADO
6
docente en el Perú
PERÚ)
JOSÉ VIRGILIO MENDO ROMERO (UCH, PERÚ)
Formação do professor de geografia no Brasil:
configurações político-institucionais e
repercussões no ensino
FRANCISCO DAS CHAGAS RODRIGUES DA
SILVA (UFPI, Brasil)
Eje 5 – Mesa 5A
Miércoles 15 a 17 hs.
Aula
Coordinadora: OLGAÍSES CABRAL MAUÉS (UFPA, Brasil)
1
2
3
4
5
O sistema nacional de avaliação:
estudando os programas de qualidade da
escola
El trabajo de evaluar en la educación
secundaria: obligatoria en la argentina
Políticas de avaliação: novas regulações e
o trabalho docente
A avaliação educacional em Minas Gerais
e os professores: o que mudou nesses dez
anos?
O impacto dos resultados do IDEB sobre a
escola pública
JANE APARECIDA GONÇALVES DE
SOUZA(UFJF, BRASIL)
RAÚL A. MENGHINI (UNS, ARGENTINA).
OLGAÍSES CABRAL MAUÉS (UFPA, Brasil)
ANA MARIA ALVES SARAIVA
(GESTRADO/UFMG, Brasil).
SILVANA SOARES DE ARAUJO MESQUITA
(PUC-RIO, BRASIL).
Eje 6 – Mesa 6A
Miércoles 15 a 17 hs.
Aula
Coordinadora: MARIA HELENA AUGUSTO (GESTRADO/UFMG, Brasil)
1
El magisterio mexicano y el snte ante las
transformaciones del trabajo docente en méxico.
A trajetória do sindicalismo docente no Brasil: da
sociedade disciplinar à sociedade de controle.
JOSÉ DAVID ALARID DIEGUEZ (UPNAjusco, México)
VANIA TANIRA BIAVAT TI (FURB, Brasil)
3
Trabalho, resistência e organização dos docentes:
tensões, debates e desafios
SAVANA DINIZ GOMES MELO (FAE/UFMG,
Brasil).
4
Tempo e produtividade no trabalho docente: uma
reflexão no cotidiano da escola pública.
Maestras sindicalistas docentes y relaciones
genéricas
LUIZ APARECIDO ALVES DE SOUZA
(UTP, Brasil)
MARÍA SUSANA ZAT TARA (IICE – UBA,
Argentina).
2
5
Eje 7 – Mesa 7 A
Miércoles 15 a 17 hs.
Aula
Coordinadora: DEOLIDIA MARTÍNEZ (CTERA, Argentina)
1
A pesquisa em saúde mental de mulheres
professoras em Belo Horizonte entre 1997
e 2007
MARGARETH DINIZ (UFOP, Brasil)
VIII SEMINARIO DE LA RED ESTRADO
2
Trabalho docente e transtornos mentais
3
Reflexões teórico práticas a partir de
pesquisa intervenção com professores de
ensino fundamental na grande São Paulo.
Comportamento resiliente e percepção de
estresse em docentes do ensino
fundamental (Brasil)
Percepção da saúde organizacional entre
professores de instituição federal de ensino
superior
4
5
LEOMAR DA COSTA ESLABÃO (IF-SUL, Brasil).
ELAINE TOMASI (UCPEL, Brasil)
JARBAS SANTOS VIEIRA (UFPEL, Brasil)
MARIA DE FÁTIMA MARTINS (UFPEL, Brasil).
MARIA MANUELA ALVES GARCIA (UFPEL, Brasil)
VERA LÚCIA GAINSSA BALINHAS (UFPEL, Brasil)
ALINE FERRAZ DA SILVA (UFPEL, Brasil)
CARMEM LÚCIA DA ROSA FETTER (UFPEL,
Brasil)
CRISTINA MIYUKI HASHIZUME (USP, Brasil)
JOILSON PEREIRA DA SILVA (UFS, Brasil)
SERIGNE ABABACAR CISSÉ BA (CAC/UFG, Brasil).
ANDRÉ VASCONCELOS DA SILVA (CAC/UFG,
Brasil).
ALEXANDER MEIRELES DA SILVA (CAC/UFG,
Brasil).
CARLA NATALINA DA SILVA FERNANDES
(CAC/UFG, Brasil).
JOSÉ JULIO C. PITUBA (CAC/UFG, Brasil).
WAL TERLÂNIA SILVA SANTOS (CAC/UFG, Brasil).
Eje 8 – Mesa 8A
Miércoles 15 a 17 hs.
Aula
Coordinadora: MARIA DE LA LUZ ARRIAGA (UNAM, México)
1
Representações do trabalho docente na
ANPED: análise da produção científica
2
Trabalho docente na educação superior:
tendências na produção acadêmica de 19942008.
As pesquisas sobre o trabalho docente
superior na França – aportes para as
pesquisas no Brasil
A formação pedagógica para a docência
universitária nos trabalhos apresentados nas
reuniões anuais da ANPED: período 20002009
Concepções sobre trabalho docente na
universidade: na visão dos pós-graduandos
dos cursos da saúde da UFRGS
3
4
5
SUELI DE FATIMA OURIQUE DEAVILA
(FAMATH/unibennett/UERJ, Brasil)
CARLA VAZ DOS SANTOS RIBEIRO (UFMA/UERJ,
Brasil).
DENISE BESSA LEDA (UFMA, Brasil)
MARIA ROSIMARY SOARES DOS SANTOS (UFMG,
BRASIL).
HALLEY SCARLET ALMEIDA (UFMG, BRASIL).
EMILIA PEIXOTO VIEIRA (FACULDADE DE
EDUCAÇÃO / UNICAMP, BRASIL)
VERA LUCIA BAZZO (UFSC, BRASIL)
MARIA DA GLORIA SILVA E SILVA (UNISUL/SC,
BRASIL)
SÔNIA REGINA SILVA PEDROSO (FACED/UFRGS,
Brasil)
Eje 8 – Mesa 8B
Miércoles 15 a 17 hs.
Aula
Coordinadora: ANA MARÍA TELLO (UNSL, Argentina)
VIII SEMINARIO DE LA RED ESTRADO
1
Los académicos argentinos frente a los
desafíos actuales de la profesión: un estudio
sobre la tensión docencia e investigación
2
Epílogo de investigación: … presencias y
ausencias en los espacios teóricos II
3
Avaliação dos programas de pós-graduação
e seu impacto na docência e na produção
científica da universidade brasileira
Políticas de regulación de la educación
superior universitaria en américa latina. Sus
implicancias en el trabajo de los
académicos.
4
5
O trabalho docente nas instituições de
ensino superior públicas: a lógica das
políticas avaliativas
MERCEDES DEL VALLE LEAL (UNT,
ARGENTINA).
MARIA ADELAIDA MAIDANA (UNT,
ARGENTINA).
SERGIO OSCAR ROBIN (UNT, ARGENTINA).
GRACIELA BEATRIZ PLACHOT GONZALEZ
(Universidad de la República. Facultad de Psicología,
Uruguay).
AGDA. MABELA RUIZ (Universidad de la República.
Facultad de Psicología, Uruguay).
VIRGINIA FACHINET TI (Universidad de la República.
Facultad de Psicología, Uruguay).
MARÍLIA FONSECA (UNB, Brasil)
JOÃO FERREIRA DE OLIVEIRA (UFG, Brasil)
ESTELA MARÍA MIRANDA (Universidad Nacional de
Córdoba, Argentina).
VANINA ARES BARGAS (Universidad Nacional de
Córdoba, Argentina)
LAURIMAR DE MATOS FARIAS (UFPA, Brasil)
Eje 8 – Mesa 8 C
Miércoles 15 a 17 hs.
Aula
Coordinadora: MARIA ROSALES PAPA (UCH/UNE, Perú)
1
2
O olhar das coreografias de ensino
implicados na docência
universitária:cenários, condições e
encenações
Docência do ensino superior: saberes,
formação e inclusão escolar
3
Pratica pedagógica na extensão da
faculdade de educação Fisica – Faefi/UFU
com pessoas com necessidades especiais
4
"A formação docente sob a ótica
do professor da educação superior"
Perfil ideal del tutor de trabajos de grado a
nivel de postgrado de la Universidad
Pedagógica Experimental Libertador .
O professor universitário e o ensino
criativo: dilemas e perspectivas na
5
6
MARIA DAS GRAÇAS AUXILIADORA FIDELIS
BARBOZA (Universidade Católica do Salvador –
UCSAl, Brasil)
ANA CLARA GOMES (UFU, Brasil)
CRISTIANE DA SILVA SANTOS (Universidade Federal de
Catalão, Brasil)
VIVIANE PRADO BUIATTI MARÇAL (Universidade
Federal de Uberlândia - Campus Pontal, Brasil).
VALÉRIA MANNA OLIVEIRA (Universidade Federal
de Uberlândia/MG – UFU, Brasil).
SOLANGE RODOVALHO LIMA (Universidade Federal
de Uberlândia/MG – UFU, Brasil).
MARIA HELENA CANDELORI VIDAL (Universidade
Federal de Uberlândia/MG – UFU, Brasil)
SÔNIA BERTONI SOUSA (Universidade Federal de
Uberlândia/MG – UFU, Brasil).
MARIELDA FERREIRA PRYJMA (UTFPR, Brasil)
ROJAS SAYAGO FLORELBA (Venezuela)
FÁBIO ALEXANDRE ARAÚJO DOS SANTOS (IFRN
campus Macau, Brasil).
VIII SEMINARIO DE LA RED ESTRADO
formação do professor contemporâneo
ANDREZZA MARIA BATISTA DO NASCIMENT O
TAVARES (IFRN campus Macau, Brasil).
ISAURO BELTRÃN NUÑEZ (UFRN, Brasil)
Eje 9 – Mesa 9A
Miércoles 15 a 17 hs.
Aula
Coordinadora: MARIA DELFINA VEIRAVE (UNNE, Argentina)
1
2
3
4
5
Do teórico ao metodológico: orientações,
percepções e elaborações na trajetória de
investigação no campo da construção de
saberes docentes no processo de socialização
profissional de professores do curso de
administração
Consideraciones teóricas y metodológicas para
el análisis de las regulaciones del trabajo
docente: aportes de la tradición crítica en
educación y pedagogía
Análise do trabalho docente em classe
multisseriada: uma estratégia metodológica
Contribuições da análise argumentativa para o
estudo sobre trabalho docente
Comprender el trabajo docente en escuelas
medias públicas de la argentina:
aproximaciones teóricas para analizar su
complejidad
MARCIANO DE ALMEIDA CUNHA (PUCSP,
Brasil)
LUCIANA MARIA GIOVANNI (PUCSP, Brasil)
ALEJANDRO VASSILIADES (UBA/UNLP,
Argentina)
GUSTAVO BRUNO BICALHO GONÇALVES
(UFMG, Brasil)
MONICA RABELLO DE CASTRO (Universidade
Estácio de Sá, Brasil)
HELENICE MAIA GONÇALVES (Universidade
Estácio de Sá, Brasil)
ALDA JUDITH ALVES-MAZZOTTI
(Universidade Estácio de Sá, Brasil)
TARSO BONILHA MAZZOT TI (Universidade
Estácio de Sá, Brasil)
MARIA DELFINA VEIRAVE (UNNE, Argentina)
CLAUDIO RAÚL (UNNE, Argentina)
MARIANA CECILIA OJEDA (UNNE, Argentina)
Eje 10 – Mesa 10A
Miércoles 15 a 17 hs.
Aula
Coordinadora: S OFÍA THISTED (UBA/UNLP, Argentina)
1
2
3
4
O legado histórico da mulher na sua
constituição de professora
Mulheres egressas da EJA na UFMG e suas
trajetórias
Uma reflexão sobre o valor do trabalho
feminino no setor público: o caso do
trabalho docente na educação básica
O magistério como profissão feminina:
vocação ou construção social?
CONCEIÇÃO DE MARIA MOURA NASCIMENTO
RAMOS (UFMA, BRASIL)
LUDIMILA CORRÊA BASTOS (FAE/UFMG, BRASIL)
MARIA DA CONSOLAÇÃO ROCHA (EMCRT/UEMG,
BRASIL)
MAGDA CHAMON (UEMG, BRASIL)
VIII SEMINARIO DE LA RED ESTRADO
Jueves 5 de agosto
8:30 a 10:30 hs.
Eje 1 – Mesa 1B
Jueves 8:30 a 10:30 hs.
Aula:
Coordinadora: CÉLIA NUNES (UFOP, Brasil)
1
As condições do trabalho docente: a construção da
identidade profissional entre permanências e
abandonos
Representações sociais de trabalho docente e
formação por professores do ensino fundamental e
alunos de pedagogia: um estudo comparativo
Las condiciones de trabajo del docente
JOSÉ CARLOS GALVÃO LEMOS
(GEPECCE/UNIFESP, Brasil).
4
De qual trabalho se fala? Movimentos de sentidos
sobre a natureza, processos e condições de trabalho
dos professores
5
A formação inicial e a construção do idioma
pedagógico de professores de educação física de
uma escola profissionalizante
Estamos chegando, daqui e dali
De professores/as, os deslocamentos
LILIANA SOARES FERREIRA (UFSM,
Brasil).
ÁLVARO MOREIRA HYPOLITO (UFPel,
Brasil).
JOSÉ ANGELO GARIGLIO (UFMG, Brasil).
2
3
6
HELENICE MAIA GONÇALVES
(Universidade Estácio de Sá, Brasil).
ALFREDO FRANCO CÁRDENAS (C.M.P,
Perú)
INÊS TEIXEIRA (UFMG, Brasil).
CÉLIA NUNES (UFOP, Brasil).
LUCAS SARDINHA (UFMG, Brasil).
GILMARA SOUZA (UFMG, Brasil).
Eje 2 – Mesa 2A
Jueves 8:30 a 10:30 hs.
Aula
Coordinadora: ROXANA PERAZZA (UBA, Argentina)
1
¿Regulan los estatutos docentes? Una
aproximación al caso argentino
Trabalho docente, regulamentações e
regulações: aproximações à gramática escolar
no ensino fundamental
ROXANA PERAZZA (UBA, ARGENTINA)
3
Plano de carreira dos docente de MG: choque
de gestão e cultura do desempenho no
governo Aécio Neves
LUCIA ELENA PEREIRA FRANCO BRITO
(FACED-UFU, Brasil).
ROBSON LUIS FRANÇA (FACED-UFU, Brasil).
4
As políticas educacionais e a valorização da
profissão docente: uma reflexão a partir da
legislação e de documentos nacionais e
internacionais
Recompensa ou punição. A regulação
educativa em MG e a cobrança de resultados
MARIA DA CONSOLAÇÃO ROCHA
(EMCRT/UEMG, Brasil).
2
5
ALDA JUNQUEIRA MARIN (PUC-SP, Brasil).
MARIETA GOUVEA DE OLIVEIRA PENNA
(UNIFESP, Brasil).
MARIA HELENA AUGUSTO (FAE/UFMG,
BRASIL).
VIII SEMINARIO DE LA RED ESTRADO
6
Gestão da educação básica e trabalho docente:
algumas aproximações
BENTO LUIZ VERVLOET MACHADO DA
SILVANETO (UFPA, BRASIL).
PEDRO HENRIQUE DE SOUSA TAVARES
(UFPA, BRASIL).
7
La situación del catedrático peruano, de la
universidad pública, en la primera década del
siglo XXI.
DANTE MARTÍN PAIVA GOYBURU
(UNMSM, Perú).
Eje 3 – Mesa 3B
Jueves 8:30 a 10:30 hs.
Aula
Coordinador: MARIA JOSÉ BATISTA PINTO (GESTRADO/UFMG, BRASIL)
1
Trabalho Docente e alienação: uma
abordagem a partir de escolas públicas
paraibanas
2
Novas regulações das políticas educacionais e a
jornada de trabalho de professores de
matemática em escolas públicas catarinenses
Temporalidades e ritmos de aprendizagem nas
classes multisseriadas: a dinâmica do tempo no
espaço rural
3
4
5
6
Educar para la lógica empresarial por medio de
la tecnología
Educação tecnológica: currículos e trabalho
docente
A comunicação educativa e a sua influência no
processo de ensino – aprendizagem
MELÂNIA MENDONÇA RODRIGUES (UFCG,
BRASIL)
ISLAYNE MONALISA DA SILVA MEDEIROS
(UFCG, BRASIL)
SONAYRA DA SILVA MEDEIROS (UFCG,
BRASIL)
MARCIO JOSE DA SILVEIRA MACHADO
ANA SUELI TEIXEIRA DE PINHO (UNEB,
BRASIL)
ELIZEU CLEMENTINO DE SOUZA (UNEB,
BRASIL)
ROSILENE HORTA TAVARES (UFMG,
BRASIL)
CLAUDIA MADRUGA CUNHA
(UNIVERSIDADE FEDERAL DO PARANÁ,
BRASIL)
XIOMARA CABRERA FERNÁNDEZ
(UNIVERSIDADE “CARLOS RAFAEL
RODRÍGUEZ”, CUBA)
ROGELIO DEMETRIO GÓMEZ ESPINOSA
(UNIVERSIDADE “CARLOS RAFAEL
RODRÍGUEZ”, CUBA)
Eje 3 – Mesa 3 C
Jueves 8:30 a 10:30 hs.
Aula
Coordinador: MARIO P ORTOCARRERO QUINTANA (UNMSM, PERÚ)
1
Políticas educativas e trabalho docente na
formação profissional de nível médio: um
estudo de caso em Belém-PA
2
Trabalho docente no ensino médio no Brasil
3
A diversificação do trabalho docente no
contexto de consolidação da juventude como
VERÔNICA LIMA CARNEIRO (UFPA,
BRASIL)
CARLOS JOSÉ DE MELO MOREIRA (UEPA,
BRASIL)
GILVAN LUIZ MACHADO COSTA (UNISUL,
BRASIL)
EVELINE ALGEBAILE (UERJ, BRASIL)
PAULA VARGENS (UERJ, BRASIL)
VIII SEMINARIO DE LA RED ESTRADO
4
5
6
setor de atuação do estado
Educação social e o educador social: a
educação nos espaços não-escolares com
crianças e jovens em situação de risco em
natal/RN
Gestão da formação de adultos em porto e
Catalunha: estudo de caso em Portugal e
Espanha
Identidad nacional y educación (Un problema
que requiere especial atención y soluciones
políticas)
ALINE MORAES (UERJ E IFRJ, BRASIL)
ANDREZZA MARIA BATISTA DO
NASCIMENTO TAVARES (IFRN CAMPUS
MACAU, BRASIL)
FÁBIO ALEXANDRE ARAÚJO DOS SANTOS
(IFRN CAMPUS MACAU, BRASIL)
CHRISTIAN MULEKA MWE WA
(UNIVERSIDADE DO PORTO, PORTUGAL)
J. MARIO PORTOCARRERO QUINTANA
(UNMSM, PERÚ)
Eje 4 – Mesa 4C
Jueves 8:30 a 10:30 hs.
Aula
Coordinador: RAÚL ARMANDO MENGHINI (UNS, Argentina)
1
Política de formação docente no
governo lula (2002-2010)
A regulação da política educacional no
Brasil: a formação e o trabalho docente
como foco
El instituto nacional de formación
docente en la argentina: el contenido y
la forma de sus políticas
OLINDA EVANGELISTA (UFSC, Brasil)
4
Política de criação de institutos
superiores de educação no Brasil:
elevação do nível da formação de
professores ou mercantilização da
formação?
WALDECK CARNEIRO (UFF, GRUPPE/CNPq, Brasil)
FLÁVIA ARAÚJO (UFF, GRUPPE/CNPq, Brasil)
GLÓRIA ANSELMO (UFF-NUEC, GRUPPE/CNPq,
Brasil)
5
A educação superior no Brasil, as
políticas de formação e a qualidade de
ensino
Avanços da sociedade civil na educação
ou ocultamento das recusas do estado
IRENE JEANETE LEMOS GILBERTO (UNISANTOS,
Brasil)
2
3
6
DIANA LEMES FERREIRA (UFPA, Brasil)
RAÚL ARMANDO MENGHINI (UNS, Argentina)
CAROLINA FERNÁNDEZ CORIA (UNS, Argentina)
MARIA ELIZA CORREA PACHECO (PUC-Pr, Brasil)
FERNANDA ESPERIDIÃO (UFS, Brasil)
Eje 4 – Mesa 4D
Jueves 8:30 a 10:30 hs.
Aula
Coordinadora: NORA CEPEDA GARCIA (TAREA, Peru)
1
"Formação continuada de professores:
buscas e resistências na realidade
docente"
ÚRSULA ADELAIDE DE LÉLIS (Unimontes, Brasil)
REJANE DE FREITAS SANTOS (Unimotes, Brasil)
2
Antagonismo na concepção de
formação continuada de professores: o
olhar do estado e do professor
VALÉRIA MOREIRA REZENDE (FACIP – UFU)
VIII SEMINARIO DE LA RED ESTRADO
3
4
5
6
As políticas de formação continuada de
professores e o trabalho docente: no
contexto das transformações da
sociedade
A formação continuada de profissionais
para o Proeja: desafios na
implementação
Formação continuada de professores:
10 anos de política de uma rede
municipal de educação
IZA CRISTINA PRADO DA LUZ (UFPA, Brasil)
OLGAÍSES CABRAL MAUÉS (UFPA, Brasil)
Reflexões sobre a formação continuada
de professores: as políticas nacionais de
formação e a realidade de uma rede
municipal de ensino
CAROLINE MACHADO CORTELINI CONCEIÇÃO
(Unioeste, Brasil)
JANAINA DAMASCO UMBELINO (Unioeste, Brasil)
VÂNIA DO CARMO NÓBILE SILVA (Universidade de
Brasília, Brasil)
MARIA LOURDES GISI (PUCPR, Brasil)
ROMILDA TEODORA ENS (PUCPR, Brasil)
ANA MARIA EYNG (PUCPR, Brasil)
Eje 4 – Mesa 4E
Jueves 8:30 a 10:30 hs.
Aula
Coordinadora: MARIA ELENA ESPINOZA (UPS, Ecuador)
1
2
3
4
5
6
Diretrizes nacionais para os cursos de
formação de professores para a
educação básica no Brasil: da
regulamentação aos projetos
institucionais
Repercussões das diretrizes curriculares
nacionais para o curso de pedagogia: a
formação do pedagogo para atuação em
ambientes escolares e não-escolares
Diretrizes curriculares nacionais para
formação de professores da educação
básica: limites para implantação e
apropriação das concepções no
contexto dos professores de duas
licenciaturas de uma universidade
privada no litoral do RS
A cidadania nos referenciais para
formação de professores no Brasil
Os estágios curriculares supervisionados
e a faculdade de educação na atual
reforma nas licenciaturas da UFMG
Extensão universitária e formação para
o trabalho docente
LEDA SCHEIBE (UFSC, Brasil)
VERA LÚCIA BAZZO (UFSC, Brasil)
CLÁUDIA DA MOTA DARÓS PARENTE (UFS,
Brasil)
ALINE SOUZA DA LUZ (Unipampa/UFRGS, Brasil)
ELISANDRA DE SOUZA PERES
(UFSC, Brasil)
CLARISSA BASTOS CRAVEIRO
ROZANA GOMES DE ABREU
GABRIEL MENEZES VIANA (UFMG, Brasil)
DIOGO CESAR PEREIRA (UFMG, Brasil)
SUELI MAZZILLI (Unisantos, Brasil)
MARIA IZABEL CALIL STAMATO (Unisantos,
Brasil)
ALDENIR DIAS DOS SANTOS
VICENTE (Unimes e Faculdade de São Vicente, Brasil)
EDISON SANTANA DOS SANTOS
(Unisantos, Brasil)
FRANCIELE JACQUELINE GAZOLA DA SILVA
(Unisantos, Brasil)
KLIM WERTZ SCHENDER (Unisantos, Brasil)
LÍLIAN GONÇALVES DE OLIVEIRA (SME de
Cubatão, Brasil)
VIII SEMINARIO DE LA RED ESTRADO
MÔNICA MARQUES DE PAULA (SME Santos/SEE
São Paulo, Brasil)
Eje 4 – Mesa 4F
Jueves 8:30 a 10:30 hs.
Aula
Coordinadora: LEONORA REYES (UCHILE, Chile)
1
2
3
4
5
Uma experiência de formação
continuada no interior da escola
Formação continuada em serviço:
ressignificando a prática docente
Formação continuada dos
professores:visando à própria
experiência para uma nova perspectiva
JACQUELINE DE FATIMA DOS SANTOS MORAIS
(UERJ, Brasil)
JANE ROSE SILVA SOUZA (EPSJV/FIOCRUZ/
FIC/FEUC, Brasil)
JANAINA DA CONCEIÇÃO MARTINS SILVA
(UEMG, Brasil)
GEOVANNA PASSOS DUARTE (CEFET - MG)
Pde-PR: um programa de formação
continuada de professores que tem a
escola como objeto de estudo.
Aprendiendo con la ayuda del otro:
colegialidad en los procesos de
formación docente
CASSIANO ROBERTO NASCIMENTO OGLIARI
(PUC-SP, Brasil)
JESSICA RAYAS PRINCE (UPN, México)
LUZ JIMÉNEZ LOZANO (UPN, México)
Eje 6 – Mesa 6B
Jueves 8:30 a 10:30 hs.
Aula
Coordinadora: MÁRCIA ONDINA VIEIRA FERREIRA (UFPel, Brasil)
1
Gestión sindical en el sector docente: el caso
de la universidad de Camagüey, Cuba.
2
A organização do sindicato único dos
trabalhadores em educação: sind-ute/mg,
narrado por seus sujeitos.
Memórias do associativismo e sindicalismo
docentes: As vivências dos professores em
portugal
3
4
5
A constituição de uma rede de investigação
sobre associações e sindicatos de
trabalhadores em educação
Conocimiento e información y la
organización de los maestros
MARIA TERESA MACHADO DURÁN (UC,
Cuba).
LIANET GOYAS CÉSPEDES (UC, Cuba).
MARTHA VENTO GARCÍA (UC, Cuba).
SAVANA DINIZ GOMES MELO (UFMG,
Brasil).
DALILA ANDRADE OLIVEIRA (UFMG,
Brasil).
WELLINGTON DE OLIVEIRA (FAE-UFMG,
Brasil).
SANDRA MARIA DE OLIVEIRA MARQUES
GONÇALVES QUEIROZ (CEIEF – ULHT,
PORTUGAL).
MARIA DE FÁTIMA FIGUEIREDO (CEIEF –
ULHT, PORTUGAL).
MÁRCIA ONDINA VIEIRA FERREIRA (UFPel,
Brasil)
JOSÉ VIRGILIO MENDO (Peru)
Eje 7 – Mesa 7B
VIII SEMINARIO DE LA RED ESTRADO
Jueves 8:30 a 10:30 hs.
Aula
Coordinadora: SILVIA TAMEZ (UAM, México)
1
2
3
4
5
O mal-estar docente, o adoecimento e
as condições de trabalho no exercício
do magistério, no ensino fundamental
da cidade de Betim, Minas Gerais/Brasil.
El malestar docente como efecto de la
"adolescentizacion" contemporanea del
social
Proyecto de investigación. Oficio
docente y malestar en la escuela
secundaria. Resultados preliminares
Trabalho docente: experiências de
alienação e de autonomia
Avaliação da qualidade de vida de
docentes de uma universidade pública do
estado do Paraná
JOSANE APARECIDA QUINTÃO ROMERO
BASTOS (RME/Betim, Brasil).
LEILA ALVARENGA MAFRA (PUC/MG, Brasil).
MARCELO RICARDO PEREIRA (UFMG, Brasil)
ACACIA TORIZ PÉREZ
MARIA APARECIDA DE SOUSA (UnB, Brasil)
EVANI MARQUES PEREIRA (UNICENTRO, Brasil)
CRISTIANE KÜSTER (UNICENTRO, Brasil)
PADILHA, J.O (UNICENTRO, Brasil)
KLUTHCOVSKY, A.C.G.C. (UNICENTRO, Brasil)
Eje 8 – Mesa 8D
Jueves 8:30 a 10:30 hs.
Aula
Coordinador: RONAL GARNELO (UCH,Perú)
1
2
3
4
5
Efectos del neoliberalismo educativo en
el trabajo académico: el caso de México
Trabajo docente universitario y esfera
pública. Problematizaciones políticas
Políticas educacionais, pragmatismo e
individualismo: conseqüências prática
dos intelectuais nas universidades
Debates, políticas, regulaciones y
sentidos del trabajo de los docentes
universitarios. Algunas notas sobre el
caso argentino
Universidade e reforma de estado
YURI JIMÉNEZ NÁJERA (UPN, México)
ALICIA NAPUT (Facultad de Ciencias de la
Educación. UNER, Argentina)
SONIA REGINA LANDINI (UFPR, Brasil)
MARÍA JOSÉ LAURENTE SUELDO (UNCo-FACE)
PAULA EMA PENAS (UNCo-FACE)
REGINA CÉLIA HABIB WIPIESKI PADILHA
(UNICENTRO, Brasil)
Eje 9 – Mesa 9B
Jueves 8:30 a 10:30 hs.
Aula
Coordinador: PABLO IMEN (UBA, Argentina)
1
2
3
“Profissão acadêmica e scholarship da
docência universitária: os múltiplos papéis
do professor universitário”.
Trabalho docente: novos caminhos para
novas demandas na licenciatura
O labor dos professores na vida acadêmica:
JOSÉ CAMILO DOS SANTOS FILHO
(UNICAMP e UNOESTE, Brasil)
LEANDRO JORGE DUCLOS DA COSTA
(UFRRJ, Brasil)
EDITH MARIA MARQUES MAGALHÃES DA
SILVA (UNIG/ UNESA, Brasil)
IDALICE RIBEIRO SILVA LIMA (UFTM,
VIII SEMINARIO DE LA RED ESTRADO
trabalho docente nas universidades federais
brasileiras
4
5
Experiencia de sistematizacion en las
academias aduni y cesar vallejo
Por que o currículo é considerado um grande
desafio para os professores?
Brasil)
RÉGIA CRISTINA OLIVEIRA (UNIFESP,
Brasil)
LUIZ CAETANO SALLES (UFU, Brasil)
ANDRÉS ROBERT ESPÍRITU AVILA. (I.C.H.,
Perú)
PAOLA CRISTINE MARCHIORO HANNA
(PUCPR, Brasil)
Eje 10 – Mesa 10B
Jueves 8:30 a 10:30 hs.
Aula
Coordinadora: MARÍA SUSANA ZATTARA (IICE – UBA, Argentina)
1
Trabalho docente, gênero e identidades
CLÁUDIA DENÍS ALVES DA PAZ (UNB, BRASIL)
2
Estado, relações de gênero e trabalho
docente: reflexões no contexto das
novas configurações do trabalho na
sociedade contemporânea
Há lugar para o professor homem na
educação infantil? - algumas reflexões
para pensar as relações de gênero
Feminismo e violência sexual: um debate
ausente na educação
MÍRIAM MORELLI LIMA (UNICAMP, BRASIL)
3
4
JOAQUIM RAMOS (PUC-MINAS, BRASIL)
MARIA DO CARMO XAVIER (PUC-MINAS,
BRASIL)
VIRGÍNIA COELI BUENO DE QUEIROZ MATIAS –
(PUCMINAS, BRASIL)
Jueves 5 de agosto
14:30 a 16:30 hs.
Eje 1 – Mesa 1 C
Jueves 14:30 a 16:30 hs.
Aula
Coordinadora: GILVAN MACHADO (UNISUL, Brasil)
1
O ofício docente em um contexto rural brasileiro
ELOIZA DIAS NEVES (UFF, Brasil)
2
Profissão docente em contextos populares: notas
sobre uma escola privada
3
Passados escolares em lembranças de professoras
ISABEL LELIS (PUC-Rio, Brasil)
ANGELA IÓRIO (PUC-Rio, Brasil)
PHILLIPI ASSIS (PUC - Rio, Brasil)
RITA MURY (PUC - Rio, Brasil)
SILVANA MESQUITA (PUC - Rio, Brasil)
THAYSA DO VALE (PUC - Rio, Brasil)
CHARLES MOREIRA CUNHA (UFMG,
Brasil).
VIII SEMINARIO DE LA RED ESTRADO
4
Educação profissional sob uma perspectiva
politécnica
5
Compromiso organizacional de los docentes de una
institución educativa privada de Lima
Metropolitana
INÊS ASSUNÇÃO DE CASTRO TEIXEIRA
(UFMG, Brasil).
JANE ROSE SILVA SOUZA
(EPSJV/FIOCRUZ/FIC/FEUC/UNESA,
Brasil).
OSCAR MARTÍN RIVERA CARRASCAL
(Perú)
Eje 1 – Mesa 1D
Jueves 14:30 a 16:30 hs.
Aula
Coordinadora: LÍVIA MARIA FRAGA VIEIRA (FaE/UFMG, Brasil)
1
Representações sociais e a educação étnico-racial
no espaço escolar brasileiro
2
Trabalho docente na educação infantil no Brasil:
discriminações e desigualdades
As entrelinhas das relações interpessoais no
cotidiano e o trabalho docente
3
4
5
6
Os sentidos e significados atribuídos por uma
professora de escola pública as mudanças na
profissão ao longo de 25 anos em sala de aula
Ser professor/a na (i)mobili(ci)dade: trabalho,
condição e identidade docente em contagem
(Mg/Brasil)
El trabajo docente en la trama administrativa
MARY FRANCISCA DO CARENO
(UNISANTOS, Brasil).
MARIA DE FÁTIMA BARBOSA ABDALLA
(UNISANTOS, Brasil).
LÍVIA MARIA FRAGA VIEIRA (FaE/UFMG,
Brasil)
ELIETE JUSSARA NOGUEIRA
(Universidade de Sorocaba, Brasil)
MARIA LÚCIA DE AMORIM SOARES
(Universidade Católica Dom Bosco, Brasil)
FLAVINÊS REBOLO (Universidade de
Sorocaba, Brasil)
REJANE MARIA DE ALMEIDA (UFRJ,
Brasil)
ALIDA ANGÉLICA ALVES LEAL (FUNEC
e UFMG, Brasil)
SONIA MARTHA CASTREJÓN MATA
(UNAM México)
RAFAEL ESPINOSA MOSQUEDA
(Universidad de Guanajuato, México)
Eje 3 – Mesa 3D
Jueves 14:30 a 16:30 hs.
Aula
Coordinador: RODRIGO CORNEJO (Universidad de Chile)
1
2
3
Tecnologias na educação: uma análise do discurso
hegemônico acerca da formação e do trabalho
docente
Profissionalização docente: aspectos do tornar-se
professor com formação stricto sensu na
educação básica
O discurso das políticas educacionais brasileiras e a
formação de professores: o suposto avanço
RAQUEL GOULART BARRETO (UERJ,
BRASIL)
KÁTIA AUGUSTA CURADO PINHEIRO
CORDEIRO DA SILVA (UNB, BRASIL)
ELIZABETH MENEZES TEIXEIRA
LEHER (UFRJ, BRASIL)
GLAUCIA CAMPOS GUIMARÃES (UERJ,
BRASIL)
LIGIA KARAM CORRÊA DE MAGALHÃES
VIII SEMINARIO DE LA RED ESTRADO
4
5
6
Diversas políticas de profesionalización docente y
su tendencia a la burocratización en México
1980-2009
Acerca de las líneas que OEI y UNESCO trazan
para las políticas capacitación de trabajadores de
la educación. Acciones de cooperación en el siglo
XXI.
Projeto de estímulo à docência – ensino de
história através de curtas metragens: o curta
“horto botânico: história, ciência e vida”
(UFRJ, BRASIL)
MA. DEL CARMEN MONTERO TIRADO
(UNIVERSIDAD PEDAGÓGICA
NACIONAL-AJUSCO, MÉXICO)
PAULA PENAS (UNCO-FACE)
MARÍA JOSÉ LAURENTE (UNCO-FACE)
TAUÃNA TERRA CORDEIRO (UFOP,
BRASIL)
Eje 3 – Mesa 3E
Jueves 14:30 a 16:30 hs.
Aula
Coordinadora: ELIZA BARTOLOZZI FERREIRA (UFES, BRASIL)
1
A condição do trabalho docente no Espírito Santo
2
Repercussões de parcerias público-privadas no
trabalho docente em escolas públicas
3
Política educacional: implicações da parceria
público/privada para o trabalho do gestor escolar
4
Remuneração docente no Brasil: antecedentes do
piso salarial profissional nacional
Reflexiones sobre la creación de los tribunales de
clasificación docentes descentralizados
La asignación de recursos materiales como
elemento (auto) regulador de la práctica
pedagógica en las organizaciones escolares
5
6
ELIZA BARTOLOZZI FERREIRA (UFES,
BRASIL)
SILVANA VENTORIM (UFES, BRASIL)
VALDETE CÔCO (UFES, BRASIL)
TEREZINHA FÁTIMA ANDRADE
MONTEIRO DOS SANTOS (UFPA,
BRASIL)
HILDETE DA SILVA PEREIRA BOLSON
(UNIVERSIDADE CATÓLICA DOM
BOSCO, MS, BRASIL)
LUCIANA CRISTINA LOPES DANTAS
(UNIVERSIDADE CATÓLICA DOM
BOSCO, MS, BRASIL)
REGINA TEREZA CESTARI DE OLIVEIRA
(UNIVERSIDADE CATÓLICA DOM
BOSCO, MS, BRASIL)
JUCA GIL (UFRGS, BRASIL)
JUÁREZ JULIA ELENA (UNSAM,
ARGENTINA)
MARÍA EUGENIA GRANDOLI
ARGENTINA)
(UBA,
Eje 4 – Mesa 4G
Jueves 14:30 a 16:30 hs.
Aula
Coordinador: CARLOS GALLARDO (Coleg io de Profesores, Peru)
1
2
A gestão na formação inicial dos cursos de
pedagogia
Gestão e formação docente no âmbito do
Mundusfor
MARIA ABÁDIA DA SILVA (Universidade de
Brasilia – UnB, Brasil)
CHRISTIAN MULEKA MWEWA (Universidade do
Porto, Portugal).
ANA INÉS RENTA DAVIDS (Universidade Rovira i
VIII SEMINARIO DE LA RED ESTRADO
3
O perfil gestor do docente
4
Trabalho docente e políticas de gestão em
cursos de formação inicial de professores
no contexto particular
confessional/comunitário
El liderazgo y la calidad de la formacion
docente (Acerca de la calidad de nuestras
universidades)
5
Virgili, Espanha)
ABUDO MACHUDE (Universidade de Reims,
França)
JUSSARA BUENO DE QUEIROZ PASCHOALINO
(UFMG, Brasil)
FERNANDO SELMAR ROCHA FIDALGO (UFMG,
Brasil)
MARIA LAURA BRENNER DE MORAES (UFPEL,
Brasil)
JORGE CARO VALERA (PERÚ)
Eje 4 – Mesa 4H
Jueves 14:30 a 16:30 hs.
Aula
Coordinador: JUAN RIVERA PALOMINO (UNMSM, Peru)
1
La formación docente en el contexto
latinoamericano
M. ROSARIO TIRADO BURGOS (UNIVERSIDAD
DE GRANADA, ESPAÑA)
2
A formação de professores no curso
normal, médio: percursos e novas
tendências
ANGELICA ACACIA AYRES ANGOLA (FACIP –
UFU)
3
A formação de professores das séries
iniciais, no estado do Paraná/Brasil.
4
Vozes, escuta e silêncio: a compreensão de
uma boa aula segundo a avaliação dos
alunos de um curso de pedagogia
5
"O projeto veredas do estado de minas
gerais: uma experiência de formação
docente através de Ead"
Uma experiência diferente de formação
docente: ensino de história, memória e
patrimônio
REGINA MARIA MICHELOT TO (UFPR, Brasil)
MARIA AMÉLIA SABBAG ZAINKO
(UFPR, Brasil)
JOSÉ APARECIDO ALVES PEREIRA (UFMG,
Brasil)
MARIA DE LOURDES ROCHA DE LIMA (UFMG,
Brasil)
DANIELA MOT TA DE OLIVEIRA (UFJF, Brasil)
6
MARIANA MARIA BORTOLET TO FESSEL
(UFOP, Brasil)
Eje 4 – Mesa 4I
Jueves 14:30 a 16:30 hs.
Aula
Coordinador: LUIS ALBERTO MAMANI QUISPE (UCH, PERÚ)
1
El trabajo docente en la tutoria individual
y sus complicaciones
ORALIA AGISS PALACIOS (U.A.E.H., Perú)
MIGUEL ÁNGEL MACHORRO CABELLO
(U.A.E.H, Perú)
OBDULIA MARTÍNEZ ESPINOSA (U.A.E.H.,
Perú)
GUILLERMO CUEVAS RAMIREZ (U.A.E.H., Perú)
VIII SEMINARIO DE LA RED ESTRADO
2
Ler para aprender: estratégias de
compreensão leitora no ensino superior.
Actitudes lingüísticas y formación docente
MARIA CELINA TEIXEIRA VIEIRA
4
Reflexões e discussões sobre o ser
professor de língua inglesa
RENATA CRISTINA DA CUNHA (UESPI, Brasil)
5
O trabalho docente no âmbito da
escolarização de surdos: desafios para a
formação de professores
MARIA DAS GRAÇAS CHAGAS DE ARRUDA
NASCIMENTO (UFRJ, Brasil)
YRLLA RIBEIRO DE OLIVEIRA CARNEIRO DA
SILVA (INES, Brasil)
3
LUIS ALBERTO MAMANI QUISPE (UCH, PERÚ)
Eje 5 – Mesa 5B
Jueves 14:30 a 16:30 hs.
Aula
Coordinadora: ENEIDA OTO SHIROMA (UFSC, BRASIL)
1
2
"Avaliação: o refinamento das formas
de controle do trabalho docente"
As políticas de avaliação como
estratégias de regulação do trabalho
docente
3
“A cada um segundo seu desempenho”:
tensões e contradições da política de
avaliação docente
4
As políticas de avaliação docente: novo
cenário para o trabalho docente?
Certificação ocupacional: implicações
sobre o professor, a categoria e a
carreira docente
5
WALKIRIA DE OLIVEIRA RIGOLON
LEONICE MATILDE RICHTER (Universidade
Federal de Uberlândia-FACIP, Brasil).
LUCIA DE FATIMA VALENTE (Universidade
Federal de Uberlândia-FACIP, Brasil)
ENEIDA OTO SHIROMA (UFSC, BRASIL).
MARA CRISTINA SCHNEIDER (UFSC, BRASIL).
ANTONIO CELSO MAFRA JÚNIOR (UDESC,
BRASIL).
IVONE RIBERA AMBRÓSIO (UFJF, Brasil)
MARA CRISTINA SCHNEIDER (UFSC, BRASIL).
ENEIDA OTO SHIROMA (UFSC, BRASIL).
Eje 7 – Mesa 7 C
Jueves 14:30 a 16:30 hs.
Aula
Coordinadora: APARECIDA NERI DE SOUZA (UNICAMP, Brasil)
1
Saúde do professor: estudo na rede
municipal de ensino de vitória da
Conquista-Ba
BENEDITO G. EUGÊNIO
EDINÉ SANTOS OLIVEIRA CERQUEIRA
MARIA MÁRCIA GOMES DA SILVA
2
Condições de trabalho suas repercussões na
saúde dos professores da educação básica
no Brasil
Analise ergonômica em membro superior
de professores da rede pública de ensino.
APARECIDA NERI DE SOUZA (UNICAMP,
Brasil).
MARCIA DE PAULA LEITE (UNICAMP, Brasil).
EVANI MARQUES PEREIRA (UNICENTRO,
Brasil).
LUIZ ANTONIO BONAN (UNICENTRO, Brasil).
THAIS ELIARA (UNICENTRO, Brasil).
FREITAS, J.P (UNICENTRO, Brasil)
ALEXI DELGADO VILLANUEVA (UCH, PERÚ)
3
4
Enfermedades ocupacionales asociadas a la
actividad docente
VIII SEMINARIO DE LA RED ESTRADO
Eje 8 – Mesa 8E
Jueves 14:30 a 16:30 hs.
Aula
Coordinadora: DEISE MANCEBO (UERJ, Brasil)
1
Trabajo docente en la universidad:
regulaciones, sujetos y prácticas
2
Trabalho docente no ensino superior:
análise das condições de saúde e de trabalho
em instituições privadas
Trabalho docente e reestruturação do
“mercado” da educação superior
Malestar docente en los profesores de la
universidad
3
4
5
Alienação no trabalho docente: o professor
no centro da contradição
ANA MARÍA S. TELLO (U.N.S.L., Argentina)
MARIA CRISTINA DEQUINO (U.N.S.L.,
Argentina)
DENISE BESSA LÉDA (UFMA, Brasil)
DEISE MANCEBO (UERJ, Brasil)
APARECIDA TIRADENTES (FIOCRUZ, Brasil)
LUCIA NATIVIDAD BRITOS (UNSL, Argentina).
ANA VALERIA GARRO (UNSL, Argentina)
NADIA LEYES (UNSL, Argentina).
DENISE VIEIRA DA SILVA LEMOS (UFBA,
Brasil)
Eje 9 – Mesa 9 C
Jueves 14:30 a 16:30 hs.
Aula
Coordinadora: ADRIANA DUARTE (UFMG, Brasil)
1
2
3
4
5
Trabalho docente e diversidade cultural na rede
estrado de 2008
As pesquisas sobre o professor: que teorias
fundamentam as reflexões dos pesquisadores que
analisam o fenômeno educacional na região
centro-oeste do Brasil?
Trabalho docente: balanço crítico de pesquisas
em teses e dissertações no Brasil (2003 -2006)
A pesquisa em trabalho docente na Anped: Um
estudo sobre a produção do GT 09 no período de
2005-2008
“Vinte anos de estudos sobre o trabalho docente
na educação básica no Brasil: 1987-2007”
PAOLA CRISTINE MARCHIORO HANNA
(PUCPR, Brasil)
MARISA LOMÔNACO DE PAULA NAVES
(FACED/PPGED/UFU, Brasil)
PÂMELLA ABADIA REIS
(PIBIC/FAPEMIG/UFU, Brasil)
GEOVANA FERREIRA MELO TEIXEIRA
(FACED/PPGED/UFU, Brasil)
IRIA BRZEZINSKI (UFMG, Brasil)
WILLIAM PESSÔA DA MOTA JÚNIOR
(UFPA, Brasil)
ANDRÉ LUIS DOS SANTOS TAVARES
(UFPA, Brasil)
ADRIANA DUARTE (UFMG, Brasil)
VIII SEMINARIO DE LA RED ESTRADO
Viernes 6 de agosto
8:30 a 10:30 hs.
Eje 1 – Mesa 1E
Viernes 8:30 a 10:30 hs.
Aula
Coordinador: PEDRO FÉLIX NOVOA CASTILLO (ICH, Perú)
1
2
Cotidiano da universidade pública, trabalho docente
e lei de inovação tecnológica
Trabalho docente, classe e ideologia
3
Mudanças nas formas de trabalho e o mal-estar dos
professores
4
O trabalho docente na escola pública: elementos de
humanização e desumanização
Vigencia de la propuesta de Mariátegui
en educación
Imagens e palavras: o cinema na vida dos
professores da rede municipal de ensino de belo
horizonte (RME/BH).
5
6
PEDRO HENRIQUE DE SOUSA TAVARES
(UFPA, Brasil).
MARIA INÊS DO REGO MONTEIRO
BOMFIM (UFF, Brasil).
FLAVINÊS REBOLO (UCDB, Brasil).
JEFFERSON CARRIELLO DO CARMO
(UCDB, Brasil).
SANDRA JACQUELINE BARBOSA
(Faculdade Fortium, Brasil).
PEDRO FÉLIX NOVOA CASTILLO (ICH,
Perú)
ANA LUCIA DE FARIA E AZEVEDO
(UFMG, Brasil).
CAMILA DE ALMEIDA FLORES (UFMG,
Brasil).
Eje 1 – Mesa 1F
Viernes 8:30 a 10:30 hs.
Aula
Coordinadora: ALDA JUDITH ALVES-MAZZOTTI (UNESA, Brasil)
1
2
3
4
5
6
Algumas hipóteses sobre os processos de produção
das representações de professores sobre o trabalho
docente
Los profesionales de la educaciòn peruna
ALDA JUDITH ALVES-MAZZOTTI
(UNESA, Brasil)
Valorização e profissionalização de professores,
carreira profissional docente, qualificação docente
e formação de professores: temáticas de teses
produzidas no período de 1996 a 2006
O foco das pesquisas sobre o trabalho coletivo
docente
ELENA MARIA BILLIG MELLO (UFRGS,
Brasil)
O estado da arte sobre o tema “gestão do trabalho
docente”.
Educación: sirve para algo la Filosofía
MANSILLA GARAYAR, José Alfredo (Perú)
LÍDIA CAMPOS GOMES BOY (UFMG,
Brasil).
ADRIANA MARIA CANCELLA DUARTE
(UFMG, Brasil).
MICHELLE BORGES DE SOUZA (UFPA,
Brasil).
LUIS ERMEL SOLÍS ACOSTA (Perú)
Eje 3 – Mesa 3F
Viernes 8:30 a 10:30 hs.
Aula
VIII SEMINARIO DE LA RED ESTRADO
Coordinadora: MARIA VIEIRA SILVA (UFU, BRASIL)
1
2
3
4
5
6
A crise da identidade docente: a precarização
simbólica na escola pública da cidade do rio de
janeiro
Gestão da educação infantil e trabalho docente: a
vice-direção das unidades municipais de educação
infantil (UMEIS) de belo horizonte.
A regulação no campo da gestão escolar:
convergências e tensões no estado do Acre
Trabalho docente e escola democrática: impasses
e possibilidades.
O plano de metas “compromisso de todos pela
educação”: a política educacional do governo lula
e sua repercussão no trabalho docente
Influencia de las politicas educativas en el
desempeño del docente
ELAINE CONSTANT (UERJ, BRASIL)
MÉRCIA DE FIGUEIREDO NORONHA
PINTO (UFMG, BRASIL)
LÚCIA DE FÁTIMA MELO (UFAC,
BRASIL)
JOÃO AUGUSTO NEVES PIRES (UFU,
BRASIL)
MARIA VIEIRA SILVA (UFU, BRASIL)
VILMA APARECIDA DE SOUZA (UFU,
BRASIL)
GIOVANNA GUZMAN PALOMINO (ISP
San Marcos, Perú)
Eje 3 – Mesa 3G
Viernes 8:30 a 10:30 hs.
Aula
Coordinador: OLMEDO AURIS (CGTP, Perú)
1
O plano de desenvolvimento da escola na lógica
da reforma do estado: controle de resultados e
trabalho docente
2
As reformas educacionais paulistas e o bônus
mérito: impactos sobre o trabalho docente e a
organização da escola
O trabalho do gestor escolar sob pressão:
resultado versus qualidade
3
4
5
Políticas de valorização dos profissionais da
educação no tempo presente: alternativas em
construção?
“Seja um professor!”: entre a propaganda e o
protesto, os contrastes da política de valorização
docente
CLEONICE HALFELD SOLANO (UFJF,
BRASIL)
RUBENS
LUIZ
RODRIGUES
(UFJF,
BRASIL)
MARIA JOSÉ DA SILVA FERNANDES
(FC/UNESP - SÃO PAULO, BRASIL)
ANTÔNIO LISBOA LEITÃO DE SOUZA
(UFRN, BRASIL)
DANIELA CUNHA TERTO (UFRN,
BRASIL)
LUCIA DE FATIMA VALENTE (UFU,
BRASIL)
BRUNA SOLA RAMOS (UERJ, BRASIL)
CARLOS EDUARDO REBUÁ OLIVEIRA
(UERJ, BRASIL)
MARIA INÊS ROCHA DE SÁ (UERJ,
BRASIL)
Eje 4 – Mesa 4J
Viernes 8:30 a 10:30 hs.
Aula
Coordinadora: JAVIER MARTINEZ CAMPOS (PIEE, CHILE)
1
Educação a distância: um estado da arte a
partir da Rede Estrado 2008
MERCIA FREIRE ROCHA CORDEIRO
MACHADO (IFPR/PUCPR, Brasil)
KELEN DOS SANTOS JUNGES (UNIUV/PUCPR,
Brasil)
VIII SEMINARIO DE LA RED ESTRADO
2
Reflexões críticas sobre a formação a
distancia do (a) professor (a) de educação
infantil
3
Limites & possibilidades da Ead como
política de formação docente: o olhar dos
futuros professores
4
A revista nova escola e o discurso sobre as
tecnologias educacionais na formação de
professores.
Estudio de demanda social y mercado
ocupacional de educación inicial en la
libertad
5
ZINARA MARCET DE ANDRADE
NASCIMENTO (UNICENTRO, Brasil)
JANE MARIA DE ABREU DREWINSKI
(UNICENTRO, Brasil)
LAURIANA GONÇALVES DE PAIVA (UERJ,
Brasil)
DANIELA MOT TA DE OLIVEIRA
(UERJ, Brasil)
ANGELO RODRIGO BIANCHINI (UFMA, Brasil)
MG. ERNESTO CRUZ SÁNCHEZ (ECU, PERÚ)
Eje 4 – Mesa 4K
Viernes 8:30 a 10:30 hs.
Aula
Coordinador/a: XXX
1
2
3
Conflitos vividos por licenciandos e sua
relação com o desenvolvimento
profissional docente
"Potencialidades investigativas em
educação: pesquisa interinstitucional,
pesquisa interinstitucional em rede de
pesquisadores e pesquisa educacional de
inspiração foucaultiana"
Pedagogia em ação: acesso e formação
4
Os professores mineiros, sua formação e
suas aprendizagens nos processos de
desenvolvimento profissional
5
Os desafios de um programa de pósgraduação em serviço no âmbito da
alfabetização e da educação infantil na rede
municipal de educação na Amazônia
Brasileira
Os professores: formação e trabalho
docente no interior da floresta
6
VÂNIA GALINDO MASSABNI
(ESALQ/USP, Brasil)
MARIA JOSÉ DE PINHO
MARILZA VANESSA ROSA SUANNO
CLÁUDIA DA MOTA DARÓS PARENTE (UFS,
Brasil)
JULIANO MOTA PARENTE (UNEB, Brasil)
RITA DE CÁSSIA DE ALCÂNTARA BRAÚNA
(UFV, Brasil)
ALVANIZE VALENTE FERNANDES FERENC
(UFV, Brasil)
TANIA SUELY AZEVEDO BRASILEIRO (UNIR,
Brasil)
ROSÂNGELA DE FÁTIMA CAVALCANTE
FRANÇA (UNIR, Brasil)
MARIA ALDECY RODRIGUES DE LIMA (UFRN
– UFAC, Brasil)
Eje 4 – Mesa 4L
Viernes 8:30 a 10:30 hs.
Aula
Coordinador/a:
1
2
Trabalho, profissão docente e o problema
do conhecimento na formação inicial de
professores
A constituição da identidade docente e a
IVANISE MONFREDINI (UNINOVE, Brasil)
CÉLIA MARIA FERNANDES NUNES (UFOP,
VIII SEMINARIO DE LA RED ESTRADO
formação pedagógica de professores
universitários
3
Docência universitária: elementos para
uma melhor compreensão dos saberes
docentes e da identidade profissional
4
Discursos produzidos e difundidos sobre a
formação de professores
Investigación cientifica y tarea docente
5
6
As lutas concorrenciais na reforma das
licenciaturas da UFMG: um embate de
concepções
Brasil)
BRUNO MORETI TESTI (UFOP, Brasil)
MARIANA FESSEL (UFOP, Brasil)
GEOVANA FERREIRA MELO TEIXEIRA
(FACED/PPGED/UFU, Brasil)
PATRÍCIA PEIXOTO DOS SANTOS (UFU, Brasil)
ROSANNE EVANGELISTA DIAS (CApUFRJ,
Brasil)
FELIPE AGUIRRE CHÁVEZ (IDECREA/EPG
UCV, Venezuela)
DIOGO CESAR PEREIRA (UFMG, Brasil)
Eje 5 – Mesa 5 C
Viernes 8:30 a 10:30 hs.
Aula
Coordinador: ROBERTO BELLIDO (UCH, Perú)
1
2
3
4
Políticas de avaliação para a pós-graduação
em educação e os impactos sobre o trabalho
docente no ICED/ UFPA.
Os docentes, o sinaes e a autoavaliação
institucional: formação e regulação.
O curso de pedagogia: possibilidades de
novas praticas avaliativas
Os docentes e o sistema nacional de
avaliação da educação superior – sinaes: a
auto-avaliação como condição
emancipatória
ANTONILDA VASCONCELOS DE BARROS
(UFPA, Brasil)
MARIA ANGÉLICA RODRIGUES MARTINS
(UNISANTOS, Brasil)
PATRICIA LUCIA VOSGRAU DE FREITAS
(UFPR, Brasil)
MARIA ISABEL DA CUNHA (UNISINOS,
BRASIL)
BEATRIZ MARIA B. (UFPEL, BRASIL).
Eje 8 – Mesa 8F
Viernes 8:30 a 10:30 hs.
Aula
Coordinador: VÍRGILIO MENDO ROMERO (UCH, Peru)
1
2
Dimensión del trabajo docente en la
universidad desde la obra de medardo vitier:
trascendencia para latinoamérica”.
Docência – profissão de interação!
3
Políticas públicas e o professor na
universidade aberta para a terceira idade
4
Os dizeres dos discentes sobre o trabalho
docente na universidade: possibilidades e
desafios para o curso superior de
tecnologia.
Hacia la concepción de calidad en los eservicios en los entornos educativos
5
ELOÍNA NÚÑEZ LÓPEZ (UPR, Brasil)
MARA REGINA ROSA RIBEIRO (UFMT, Brasil).
MARIA HELENA TRENCH CIAMPONE (EEUSP,
Brasil).
RITA DE CÁSSIA OLIVEIRA (UEPG, Brasil)
PAOLA ANDRESSA SCORTEGAGNA (UEPG,
Brasil)
FLÁVIA DA SILVA OLIVEIRA (UNIÃO, Brasil)
GERSON SENFF (SENAC/SC – UNERJ/PUC, Brasil)
MARTHA RÍOS MANRÍQUEZ (Universidad de
Guanajuato, México).
VIII SEMINARIO DE LA RED ESTRADO
universitarios
6
Processo de trabalho e educação a distância:
expansão e mudanças na universidade
pública brasileira
CARMEN CASTREJÓN MATA (Universidad de
Guanajuato, México)
JULIAN FERRER GUERRA (I.T. Celaya, México)
ALEJANDRO GUERRERO (I.T. Celaya, México)
LEONARDO ZENHA CORDEIRO (UFMG, Brasil)
Eje 9 – Mesa 9D
Viernes 8:30 a 10:30 hs.
Aula
Coordinador: ALEJANDRO VASSILIADES (UBA/UNLP, Argentina)
1
2
3
4
5
A formação continuada de docentes em
serviço: novos rumos e novas perspectivas
subsidiados pela pedagogia histórico-crítica
Trabalho docente entre dois discursos: o da
desvalorização e o da desautorização
Instituindo significados de “trabalho docente”
por meio de dissociação de noções
Questões teóricas e metodológicas da aula no
contexto atual: enfrentamentos da práxis
educativa
Ese viaje que es investigar
GLÁUCIA SIGNORELLI DE QUEIROZ
GONÇALVES (UFU /FACIP, Brasil)
DARCI APARECIDA DIAS MOT TA (UEMG,
Brasil)
ANDRÉ MARCIO PICANÇO FAVACHO
(UEMG, Brasil)
TARSO BONILHA MAZZOTTI (Universidade
Estácio de Sá, Brasil)
MARIA ELIZA BREFERE ARNONI(UNESP,
Brasil)
MABEL RUIZ BARBOT (PUCPR, Brasil)
Eje 9 – Mesa 9E
Viernes 8:30 a 10:30 hs.
Aula
Coordinador/a:
1
Representações sociais de atividade docente:
os saberes e fazeres na prática do professor
2
Um momento com Gramsci na análise do
trabalho docente
3
Trabalho docente e as práticas avaliativas de
professoras primárias
4
As vozes do campo nas memórias da infância
e da escola: espaços de formação curso
pedagogia do campo (MST/Brasil)
O trabalho do docente da história com a
educação de jovens e adultos/idosos –EJA- ao
museu de artes e ofícios-mao-: potencialidades
das relações entre ensino de história e
memória.
5
EDITH MARIA MARQUES MAGALHÃES DA
SILVA (UNIG/ UNESA, Brasil)
HELENICE MAIA GONÇALVES (UNESA,
Brasil)
CARLA CHRISTINA IMENES DE MORAIS
(UEPG, Brasil)
ELLEN MICHELLE BARBOSA DE MOURA
(UERJ, Brasil)
SUSANA SOARES TOZET TO (UEPG/Pr –
GETEFOP, Brasil)
THAÍS DE SÁ GOMES (UNICENTRO/Pr –
GETEFOP, Brasil)
NOELI VALENTINA WESCHENFELDER
(UNIJUÍ, Brasil)
JOÃO CARLOS RIBEIRO DE ANDRADE
(FAE/UEMG, Brasil)
VIII SEMINARIO DE LA RED ESTRADO
!"#$%"&"#'("')!*+*,-#'.!"#"&)*(-#
","'/
)!*+*01-'(-2"&)"'&*'"(32*45-'6&7*&)60'&-'+!*#608'
(6#2!6%6&*49"#'"'("#6:3*0(*("#
!"#$%&'%($%&)(%*%&+$,$(%&-&.)%/01)'23&4(%5$67
89(,5,:;%<5,&(,5=6;%>?5&>,&9,5@=$5%&5?A(,&5$;=%BC,5&>,&;(%A%6D?&,&,E9(,*?&
:%5&$:5;$;=$BC,5&>,&,>=F%BG?&$:H%:;$6&:?&4(%5$63&,#$>,:F$%:>?&?&F%5?&>,&4,6?&
I?($J?:;,3 & F%9$;%6 & >, & '$:%5 & 2,(%$53 & ,5;%>? & >? & K=>,5;,L & 85 & 5$;=%BC,5&
$:#,5;$*%>%53 & 9?( & E,$? & >, & H?:;,5 & >?F=E,:;%$53 & 6,*$56%BG?3 & ,5;%;"5;$F%5 & ,&
,:;(,#$5;%5 & 5, & (,H,($(%E & % & =E% & %E?5;(% & >, & ,5;%A,6,F$E,:;?5 & >, & ,:5$:?&
9MA6$F? & .,5;%>=%6 & , & E=:$F$9%67 & , & 9($#%>?L & /#$>,:F$?=<5, & ,N$5;O:F$% & >,&
9(?H$55$?:%$5 & F?E &5;%;=5& , & H?(E%BG? & >$H,(,:F$%>?53 & A,E & F?E? & #%($%>%5&
E?>%6$>%>,5&>,&(,6%BC,5&>,&,E9(,*?&,&;(%A%6D?3&@=,&(,#,6%E&9(?F,55?&>,&
9(,F%($J%BG?&:?&,N,(F"F$?&9(?H$55$?:%6&:%&,>=F%BG?&$:H%:;$6L&K,*E,:;%BC,5&
:? & $:;,($?( & >? & 5,;?( & 9MA6$F?3 & , & ,:;(, & 5,;?( & 9MA6$F? & , & 9($#%>?3 & (,$;,(%E&
>,5$*=%6>%>,5&D$5;P($F%5&:?&F%E9?L&Q?(&?=;(?&6%>?3&=E%&>,E%:>%&F(,5F,:;,&
9?(&9(?H$55$?:%6$J%BG?&R&?A5,(#%>%L&
.;<;=>;?@AB;=C8& S(%A%6D? & >?F,:;,T & F?:>$BC,5 & >, & ;(%A%6D?T & ,>=F%BG?&
$:H%:;$6T&,>=F%BG?&9(R<,5F?6%(T&4(%5$6L
6$#$%H(%*%U*6?A?LF?E
0*#'2-&(626-&"#'("')!*+*,-'("0'(-2"&)"
86H(,>?&)(%:F?&VW(>,:%5&.V'Q3&Q,(M7
/5&5?(9(,:>,:;,&@=,&9(WF;$F%E,:;,&:?&,N$5;,&$:#,5;$*%F$P:&5?A(,&6%&%F;=%6&
>,*(%>%F$P:&>,&6%5&F?:>$F$?:,5&6%A?(%6,5&>,&6?5&>?F,:;,5L&K$:&,EA%(*?3&5$&
F?E? & 9(?H,5?(,5 & :=,5;(% & ;%(,% & ,5 & (,%6$J%( & ;(%A%X? & $:;,6,F;=%63 & Y & 6%5&
F?:>$F$?:,5&>, &6%&(,%6$J%F$P: &>,6 &;(%A%X? &$:;,6,F;=%6 &5?: &5$5;,EW;$F%E,:;,&
%;%F%>%53 & $:#,5;$*%( & 5?A(, & ,5, & H,:PE,:? & >,A,("% & 5,( & 9($?($;%($? & 9%(%&
:?5?;(?5L&&&&&&
.;<;D>;?@A<;=C8&F?:>$F$?:,5&>,&;(%A%X?3&;(%A%X?&>?F,:;,3&$:#,5;$*%F$P:L
F$(F=6?9($5E%UD?;E%$6LF?E
%3(*&4*#'&*#'7-!%*#'("')!*+*01-'"'-'%*0@"#)*!'(-#'
.!-7"##-!"#
)6%#$:O5&Z,A?6?&.1V[43&4(%5$67
\,HH,(5?:&V%(($,66?&>?&V%(E?&.1V[43&4(%5$67
/5;,&;,N;?&;,E&F?E?&?AX,;$#?&%9(,5,:;%(&%5&(,H6,NC,5&(,%6$J%>%5&F?E&#$5;%5&
% & E,6D?( & F?E9(,,:>,( & ? & F?;$>$%:? & ,5F?6%( & F?:;,E9?(]:,?3 & A=5F%:>?&
>,5#,6%(3 & :%5 & ,:;(,6$:D%53 & %5 & ,59,F$H$F$>%>,5 & @=, & F?:H$*=(%E & %5 & (,6%BC,5&
9(?H,55?(<%6=:?&,&%5&F?:>$BC,5&9%(%&?&;(%A%6D?&>?F,:;,L&V?:5$>,(%:>?&@=,&
%5 & ;(%:5H?(E%BC,5 & >% & 5?F$,>%>, & F?:;,E9?(]:,% & $:H6=,:F$%E & %5 & (,6%BC,5&
$:;,(9,55?%$5 & , & ,N$*,E & %>%9;%BC,5 & @=, & %6;,(%E & ?5 & #":F=6?5 & , & %;$;=>,5&
,5;%A,6,F$>%5&:?&F?;$>$%:?&,5F?6%(T&,&@=,&%&@=%6$>%>,&>,55%5&(,6%BC,5&,5;W&
>$(,;%E,:;, & (,6%F$?:%>% & %? & F?:;,N;? & 5?F$%6 & E%$5 & %E96?3 & %? & ;$9? & >,&
?(*%:$J%BG?&>?&5$5;,E%&>,&,:5$:?&,&>%&,5F?6%&,&^5&$>$?55$:F(%5$%5&>,&F%>%&
9,55?%3&9(,;,:>,<5,&>$5F=;$(&%5&:?#%5&F?:H$*=(%BC,5&>%&(,6%BG?&9(?H,55?(&,&
%6=:?&,&>,&@=,&H?(E%&,55%&F?:H$*=(%BG?&%H,;%&%5&F?:>$BC,5&>,&;(%A%6D?&,&%&
@=%6$>%>,&>,&#$>%&>?5&9(?H,55?(,5L&_&9(?F,>$E,:;?&E,;?>?6P*$F?&%>?;%>?&R&
>, & 9,5@=$5% & A$A6$?*(WH$F% & (,%6$J%>% & % & 9%(;$( & >, & =E% & 6,$;=(% & %:%6";$F% & ,&
$:;,(9(,;%;$#% & >? & (,H,(,:F$%6 & ;,P($F? & =;$6$J%>? & 9,6%5 & %=;?(%5 & ,E & 9,5@=$5%5&
>,5,:#?6#$>%5&%:;,($?(E,:;,L&V?:F6=$<5,&@=,&R&A%5$F%E,:;,&>,:;(?&>,&=E&
%EA$,:;, & ?:>, & ? & F=$>%>? & F?E & % & @=%6$>%>, & >%5 & (,6%BC,5 & $:;,(9,55?%$5 & R&
F?:5;%:;,&,&5,E9(,&>$($*$>?&%&E,6D?(W<6%3&@=,&5,&;?(:%&9?55"#,6&E,6D?(%(&%5&
F?:>$BC,5&>,&;(%A%6D?&>?5&9(?H,55?(,5L&
.;<;=>;?@AB;=C8& F?:;,N;?&,5F?6%(&F?:;,E9?(]:,?T&F?:>$BC,5&>?&;(%A%6D?&
>?F,:;,T'(,6%BG?&9(?H,55?(<%6=:?
H6%#$:,5L(,A?6?U=?6LF?ELA(
X,HHFFU=?6LF?ELA(
2-%.!-%6#-'-!:*&6E*26-&*0'("'0-#'(-2"&)"#'("''3&*'
6&#)6)326F&'"(32*)6G*'.!6G*(*'("'06%*'%")!-.-06)*&*
_5F%(&'%(;":&Z$#,(%&V%((%5F%6&.Q,(M7
1:%&>,&6%5&H?(E%5&>,&6?*(%(&,6&F=E96$E$,:;?&>,&6?5&?AX,;$#?5&5,&*,:,(%&%&
;(%#R5&>,6&&`F?E9(?E$5?&?(*%:$J%F$?:%6a3&;,E%&>,&6%&9(,5,:;,&$:#,5;$*%F$P:3&
,6&F=%6&F%(,F,&>,&=:%&#%5;%&6$;,(%;=(%&,:&F?E9%(%F$P:&F?:&?;(?5&;,E%5&>,&
F?E9?(;%E$,:;? & ?(*%:$J%F$?:%63 & 9?( & 6? & E,:?5 & ,: & :=,5;(? & E=:>? & 6%;$:?L&
b=,5;(?&,5;=>$?&D%&96%:;,%>?&,6&5$*=$,:;,&9(?A6,E%c&dV=W6&,5&,6&*(%>?&>,&
F?E9(?E$5? & ?(*%:$J%F$?:%6 & >, & 6?5 & >?F,:;,5 & >, & =:% & e:5;$;=F$P: & />=F%;$#%&
Q($#%>%&>,&!$E%&',;(?9?6$;%:%f&!%&E,;?>?6?*"%&>,&6%&9(,5,:;,&$:#,5;$*%F$P:&
,5;W&A%5%>% &A%X?&,6 &,:H?@=,&F=%:;$;%;$#?3&,: &#$(;=>&@=, &6%5&9(,*=:;%5 &>,&
$:#,5;$*%F$P: & #,(5%: & 5?A(, & F=,5;$?:,5 & ,59,F"H$F%5L & /6 & %6F%:F, & >, & 6%&
$:#,5;$*%F$P: & % & (,%6$J%(3 & F?:5$5;$(W & ,: & =: & ,5;=>$? & ,N96?(%;?($?L& !%&
$:#,5;$*%F$P: & ;=#? & F?E? & E=,5;(% & % & 6% & 9?A6%F$P: & ;?;%6 & >, & >?F,:;,5 & >, & 6%&
,5F=,6%3&?AX,;?&>,&,5;=>$?3&@=,&D%F,:&=:&;?;%6&>,&gh&9,(5?:%5&,:;(,&6?5&;(,5&
:$#,6,5&>,&,>=F%F$P:c&$:$F$%63&9($E%($%&Y&5,F=:>%($%L&&/6&RN$;?&?(*%:$J%F$?:%6&
9=,>, & ,5;%( &(,9(,5,:;%>? & Y& ,:;,:>$>? &>, & >$H,(,:;,5 &E%:,(%5 &Y &% & 5= & #,J&
>,5>, & >$#,(5%5 & 9,(59,F;$#%5L & !? & $>,%6 & ,5 & @=, & ;?>?5 & F?E9%(;%: & 6% & E$5E%&
#$5$P:&,:&@=,&5=5;,:;,:&,6&RN$;?L&[?=*&Y&)(,>&.ijjk7&5,l%6%:&@=, &,6&RN$;?&
9,(5?:%6&Y&?(*%:$J%F$?:%6&(,@=$,(,&>,&F?E9,;,:F$%5&>,&?(>,:&E?(%63&@=,&,5&
6%&%96$F%F$P:&%F;$#%&>,&6%&$:;,6$*,:F$%&E?(%63&&6%&F=%6&,5&6%&F%9%F$>%>&E,:;%6&
9%(%&>,;,(E$:%(&FPE?&6?5&9($:F$9$?5&D=E%:?5&=:$#,(5%6,5&>,A,:&%96$F%(5,&%&
6?5&#%6?(,5&9,(5?:%6,53&?AX,;$#?5&Y&%FF$?:,5L&&/:&6?5&jh&;$9?5&>,&F?E9(?E$5?3&
,6&5,(&:?#%;?&D%F,&@=,&,N$5;%&E%Y?(&&F?E9(?E$5?&F?:&6%&?(*%:$J%F$P:3&9,(?&
%6 & 9%5%( & m & P & i & %l?53 & R5;, & >,F(,F,L & b? & ?A5;%:;,3 & >$FD? & F?E9(?E$5?3 & %6&
9%(,F,(&(,:%F,&9?(@=,&5,&9(,5=9?:,&@=,&,6&;(%A%X%>?(&%6&5%A,(&@=,&9%5P&
,5%&A(,FD%&>,&;$,E9?&5,&5$,:;,&EW5&5,*=(?&F?:&5=&9=,5;?&Y&9?(&,:>,&EW5&
F?E9(?E,;$>?L&
.;<;=>;?@2<;=Cc & /5F=,6%5 & 9($#%>%53 & F?E9(?E$5? & ?(*%:$J%F$?:%63&
F?E9(?E$5?&%H,F;$#?&>,&6?5&>?F,:;,5L
F,95%:;%%:%UY%D??L,5
*'&-G*'760*&)!-.6*'2*.6)*06#)*'"'*'6&)"&#6762*45-'(-'
)!*+*01-'(-2"&)"8'!"70"H9"#'#-+!"'-'G-03&)*!6*(-'
"%.!"#*!6*0
'%($%&+$,$(%&K$6#%&.1)13&4(%5$67&
86$:,&4%(A?5%&>,&'$(%:>%&.1KQ3&4(%5$67
Q%=6?&+L&!%E%:%&[$:$J&.1)13&4(%5$67
_ & ;,N;? & 5$:;,;$J% & (,5=6;%>?5 & >, & 9,5@=$5%5 & >?5 & %=;?(,5 & 5?A(, & ?5 & :?#?5&
H?(E%;?5&>%&H$6%:;(?9$%&F%9$;%6$5;%&9?(&E,$?&>? &;(%A%6D?&#?6=:;W($?L&V?6?F%&
,E&(,6,#?3&,59,F$H$F%E,:;,3&9(W;$F%5&9,>%*P*$F%5&>,5,:#?6#$>%5&:?&]EA$;?&
>%5 & ,E9(,5%5 & F?E & `(,59?:5%A$6$>%>, & 5?F$%6a & F?:5?6$>%:>? & =E% & :?#%&
E?>%6$>%>, & >, & ;(%A%6D? & >?F,:;,L & 8 & 9%(;$( & >?5 & >$5F=(5?5 & >?5 & *,5;?(,5 & >%&
,E9(,5% & , & >?5 & >?F,:;,5 & #?6=:;W($?5 & %5 & %:W6$5,5 & 9(?A6,E%;$J%E & ?5&
9%(%>?N?53&F?:;(%>$BC,5&,&%EA$*n$>%>,5&9(,5,:;,5&:%5&%BC,5&#?6=:;W($%53&
%9(,,:>,:>? & ?5 &9(?F,55?5 &>, & $:;,:5$H$F%BG? &6%A?(%6 & 9(,5,:;, & :? &F?:X=:;?&
>?5 & E,F%:$5E?5 & >% & %>E$:$5;(%BG? & F%9$;%6$5;%3 & ?5 & @=%$5 & $:F$>,E & 5?A(, & %5&
>$E,:5C,5 & 5=AX,;$#%5 & >? & ;(%A%6D%>?( & , & :%5 & >$E,:5C,5 & ?AX,;$#%5 & >,&
%E96$%BG?&>?&F%9$;%6L
.;<;=>;?@AB;=C8 'S(%A%6D? & [?F,:;,L & S(%A%6D? & +?6=:;W($?L & )$6%:;(?9$%&
/E9(,5%($%6L
E#5U=H=LA(
%6$:,A%(A?5%U=59LA(
&9%=6?6%E%:%UY%D??LF?ELA(
G6:"&26*'("'0*'.!-.3"#)*'("'%*!6I)":36'"&'"(32*26F&
Q,>(?&)R6$N&b?#?%&V%5;$66?&.eVI3&Q,(M7
!?5 & >$H,(,:;,5 & *?A,(:%:;,5 & @=, & 5, & D%: & 5=F,>$>? & ,: & ,6 & 9?>,( & D%: & #,:$>?&
$E9?:$,:>? & E?>,6?5 & ,>=F%;$#?5 & F%6F%>?5 & E%6 & >, & ?;(?5 & 9%"5,5L & [,5>, & 6%&
R9?F%&F?6?:$%6&D,E?5&#,:$>?&(,F?:?F$,:>?&D$X?5&%X,:?5&@=,&D%:&F(,F$>?&%&6%&
H=,(J%&Y&;(?E9$F?:,5&,:&:=,5;(%&(,%6$>%> &,>=F%;$#%L&8:;,&,66?3&'%($W;,*=$&
%=5F=6;% & 6%5 & (%"F,5 & >, & 6% & 9(?A6,EW;$F% & Y & ,:F=,:;(% & ,6 & ?($*,: & ,: & 6?&
5?F$?,F?:PE$F?L&8&9%(;$(&>,&,5;,&9=:;?&F?:H$*=(%&=:%&9(?9=,5;%&%6;,(:%;$#%&
Y&9(?*(,5$5;%&>,&,>=F%F$P:&Q,(M%:%L&/6&9(,5,:;,&;(%A%X?&;?E%&%6*=:%5&$>,%5&
#,(;,A(%6,5 & >, & ,5;% & 9(?9=,5;% & ,N9(,5%>%5 & 5?A(, & ;?>? & ,: &S,E%5 & >, & 6%&
/>=F%F$P:& Y & ,6 & ,:5%Y? & `/6 & 9(?F,5? & >, & 6% & $:5;(=FF$P: & 9MA6$F%a & >, & 6?5 &o&
,:5%Y?5 & >, & $:;,(9(,;%F$P: & >, & 6% & (,%6$>%> & Q,(M%:% &9%(% &F?;,X%(6%5 & F?: & 6%&
(,%6$>%>&Y&F?E9(?A%(&%5"&5=&#$*,:F$%L&
.;<;D>;?@A<;=C8&/>=F%F$P:&9=A6$F%3&,>=F%F$P:&9(?*(,5$5;%3&'%($W;,*=$L
9($%9?*%;?UD?;E%$6LF?E
"&#6&-'#3."!6-!J')"!2"6!6E*45-'"'.!"2*!6E*45-'(-')!*+*01-'
(-2"&)"K'*#'L3*)!-'7*#"#'&*'"H.*&#5-'(*#'2--."!*)6G*#'("'
%5-@("@-+!*'(-2"&)"'&-'+!*#60
8>?6H?&e*:WF$?&V%6>,(P:&.1SQ3&4(%5$67
I,:($@=,&>%&K$6#%&!?=(,:B?&.1'V3&4(%5$67
/5;,&%(;$*?&%A?(>%&%&;,(F,$($J%BG?&>,&9(?H,55?(,5&9?(&E,$?&>,&F??9,(%;$#%5&
>, & EG?<>,<?A(% & :? & ]EA$;? & >? & ,:5$:? & 5=9,($?( & 9($#%>?3 & H,:pE,:?&
/>=F%F$P:%6&@=,&5=(*$=&:%&E,;%>,&>%&9(,5,:;,&>RF%>%3&,:@=%>(%>?&F?E?&
9(W;$F%&$6,*%6&@=,&H,(,&?5&9($:F"9$?5&>?&F??9,(%;$#$5E?&@=%:>?&#$5%&H(%=>%(&%&
6,*$56%BG? & ;(%A%6D$5;%L& S,E & 9?( & ?AX,;$#? &F?E9(,,:>,( & % &,N9%:5G? & >,55,&
H,:pE,:? & 9?( & E,$? & >% & (,F?:5;(=BG? & >% & F(?:?6?*$% & >?5 & H%;?53 & >%&
$>,:;$H$F%BG? & >?5& E?E,:;?5 & D$5;P($F?5 & >? & 5,= & ,:;,:>$E,:;? & 6,*%6 & , & >?&
E%9,%E,:;?&>%&5=%&,N9%:5G?&*,?*(WH$F%3&%&9%(;$(&>%&$>,:;$H$F%BG?&>,&F%5?5&
F?:F(,;?5&@=,&,:#?6#,(%E&%&%;=%BG?&>%&\=5;$B%&>?&S(%A%6D?3&>?&'$:$5;R($?&
QMA6$F?&>?&S(%A%6D?&,&?=;(?5 &P(*G?5 &>?&Q?>,(&QMA6$F?L&89?$%:>?<5, &:=E%&
9,5@=$5% & @=%6$;%;$#%3 & 5G? & $>,:;$H$F%>?5 & @=%;(? & E?E,:;?5 & F6%(%E,:;,&
>,H$:$>?5&@=,&#G?&>,5>,&?&5=(*$E,:;?&>?5&9($E,$(?5&F%5?5&%;R &%&9=:$BG?&
>%5&e:5;$;=$BC,5&>,&/:5$:?&K=9,($?(&@=,&%>?;%(%E&,&5$5;,E%&F?:;(%;=%6&,E&
@=,5;G?L&
.;<;=>;?'2B;=C8& /:5$:?&K=9,($?(&9($#%>?T&S(%A%6D?&[?F,:;,T&V??9,(%;$#%&
/>=F%F$P:%6T&S,(F,$($J%BG?L
%>?6H?F%6>,(?:U;,((%LF?ELA(
6?=(,:F?LD5U*E%$6LF?E
-'"#)*(-'(*'*!)"'#-+!"'-')"%*'M:"#)5-'(-')!*+*01-'
(-2"&)"N
'$FD,6,&4?(*,5&[,&K?=J%&.1)Q83&4(%5$67
/5;, & %(;$*? & %9(,5,:;% & =E% & %:W6$5, & >% & 9(?>=BG? & F$,:;"H$F% & 5?A(, & ? & ;,E%&
q2,5;G?&>?&S(%A%6D?&>?F,:;,q&$>,:;$H$F%:>?&%5&9($:F$9%$5&F?:F,9BC,5&5?A(,&
? & E,5E? & , & ?5 & (,59,F;$#?5 & ;(%;%E,:;?5 & %:%6";$F?5 & >,5,:#?6#$>?5 & 9,6?5&
%=;?(,53&;?E%:>?&F?E&?&A%5,&,E9"($F%&?&rreee&K$E9P5$?&>%&8bQ8/3&?5&%:%$5&
>?&/$N?&;,EW;$F?&e&>?&+e&K,E$:W($?&>%&Z,>,&/KSZ8[_&,&?&9,($P>$F?&/>=F%(&
,E&Z,#$5;%3&:?&9,("?>?&>,&ijjs&%&ijjtL&Q($E,$(%E,:;,&F?:;,N;=%6$J%E?5&
5?A & 6P*$F% & >% & :?#% & ?(*%:$J%BG? & >? & ;(%A%6D? & , & >?5 & :?#?5 & E?>,6?5 & >,&
*,(,:F$%E,:;?&:%5&,5F?6%53&%&9%(;$(&>%&(,,5;(=;=(%BG?&9(?>=;$#%&,&>%&F($5,&
>?&F%9$;%6&9%55%:>?&9,6%&(,H?(E%&/>=F%F$P:%63&9?$5&,5;,5&H?(%E&?&9%:?&>,&
H=:>?&9%(%&%5&>$5F=55C,5&;(%#%>%5&:?5&;,N;?5&%:%6$5%>?5L&/&9?(&H$E3&H%J,E?5&
% & ,N9?5$BG? & >?5 & (,5=6;%>?5 & ?A;$>?5 & , & %:W6$5, & >?5 & E,5E?53 & FD,*%:>? & ^&
F?:F6=5G? &@=, &?&F?:D,F$E,:;?&5?A(, &%&2,5;G? &>?&S(%A%6D?&[?F,:;, &,5;W&
%;(,6%>?&^&:?#%&?(*%:$J%BG?&>?&9(?F,55?&>,&;(%A%6D?&,&%?&:?#?&E?>,6?&>,&
*,(,:F$%E,:;?&:%5&,5F?6%53&5$*:$H$F%:>?&;%EARE&=E%&:?#%&%A?(>%*,E&>?&
;(%A%6D?&>?F,:;,&:%&@=%6&F?6?F%&,55,&9(?H$55$?:%6&F?E?&5=X,$;?&>?&9(P9($?&
;(%A%6D?&,&%*,:;,&>%&2,5;G?&>?&S(%A%6D?&[?F,:;,L&
.;<;=>;?@AB;=C8& '?>,6? & 2,(,:F$%6$5;%T & S(%A%6D? & [?F,:;,T & 2,5;G? & >?&
S(%A%6D?&[?F,:;,L
E$FD,6$:D,UY%D??LF?ELA(
-#'.!-7"##-!"#'(*'"(32*45-'.!-76##6-&*0'"')"2&-0F:62*8'
#3*'7-!%*45-J'#"3#'#*+"!"#'"'.!I)62*#'.!-76##6-&*6#
\?5R&u:*,6?&2%($*6$?&.1)'23&4(%5$67
/5;,&%(;$*?&(,6%;%&?5&F?:;?(:?5&>,&=E%&9,5@=$5%&5?A(,&?5&5%A,(,5&>%&A%5,&
9(?H$55$?:%6&>,&9(?H,55?(,5&>%&/>=F%BG?&Q(?H$55$?:%6&,&S,F:?6P*$F%&./QS7&@=,&
6,F$?:%E & >$5F$96$:%5 & >%5 & W(,%5 & 9(?H$55$?:%$5L & _ & ,5;=>? & 9(?F=(%(W & %:%6$5%(&
@=%6 & % & (,6%BG? & ,N$5;,:;, & ,:;(, & ?5 & 5%A,(,5 & 9(?H$55$?:%$5 & :,F,55W($?5 & %?&
,:5$:? & , & ? & F?E9?:,:;, & F=(($F=6%( & ,:5$:%>? & .?5 & F?:;,M>?5 & >%5 & W(,%5&
;RF:$F%57L &8&9,5@=$5%&A=5F%(W &F?E9(,,:>,(3&9?(&E,$?&>,&,:;(,#$5;%5&F?E&
9(?H,55?(,5&>%&/QS3&>,&?A5,(#%BG?&>?&F?;$>$%:?&>,&;(%A%6D?&:%&5%6%&>,&%=6%&
, & >, & %:W6$5,5 & >, & >?F=E,:;?5 & 9(?>=J$>?5 & 9,6?5 & 9(?H,55?(,53 & F?E? & ,5;,5&
9(?H$55$?:%$5 & >? & ,:5$:? & F?:F,A,E & 5,=5 & 5%A,(,5 & >?F,:;,5 & ,E & H=:BG? & >,&
%59,F;?5 & 5=$ & *,:,($5 & @=, & ,:#?6#,E & % & 5=% & %;$#$>%>, & >, & 9,>%*P*$F% & :?&
$:;,($?( & >, & $:5;$;=$BC,5 & >, & ,:5$:? & F?E & 6%(*% & ,N9,($O:F$% & :% & H?(E%BG? & >,&
;RF:$F?5 & >, & :"#,6 & ER>$?L & _AX,;$#%(W3 & 9?( & H$E3 & %:%6$5%( & ?5 & 9(?F,55?5&
F?:5;$;=;$#?5&>%&9(W;$F%&>?F,:;,&>,&9(?H,55?(,5&>%&/QS&,&%5&F%(%F;,("5;$F%5&
>, &5,=5&5%A,(,5&9,>%*P*$F?5T&$>,:;$H$F%( &?5&E?>,6?5&>, &%BG? &9,>%*P*$F%&
@=, & ?($,:;%E & , & ,5;(=;=(%E & % & 9(W;$F% & >, & ,:5$:? & >,55,5 & >?F,:;,5 & ,&
5$5;,E%;$J%(&5=A5">$?5&9%(%&%&>,H$:$BG?&>,&9(?9?5;%5&>,&H?(E%BG?&$:$F$%6&,&
F?:;$:=%>%&>&,&9(?H,55?(,5&>,&/QSL
.;<;=>;? ' AB;=C8& )?(E%BG? & >, & Q(?H,55?(,5T & K%A,(,5 & [?F,:;,5T & />=F%BG?&
Q(?H$55$?:%6&,&S,F:?6P*$F%
%:*,6?*%($*6$?UD?;E%$6LF?E
*'7-!%*45-'6&626*0'"'*'2-&#)!345-'(-'6(6-%*'."(*:F:62-'("'
.!-7"##-!"#'("'"(32*45-'7O#62*'("'3%*'"#2-0*'
.!-76##6-&*06E*&)"
\?5R&u:*,6?&2%($*6$?&.1)'23&4(%5$67
/5;,&;,N;?&(,6%;%&?5&(,5=6;%>?5&>,&=E&,5;=>?&@=,&;,#,&F?E?&?AX,;?&F,:;(%6&%&
>,5F($BG? & , & %:W6$5, & >? & 9%9,6 & ?F=9%>? & 9,6?5 & F?E9?:,:;,5 & >$5F$96$:%(,53&
9,>%*P*$F?5 & , & 9(W;$F?53 & ;(%:5E$;$>?5 & >=(%:;, & % & H?(E%BG? & $:$F$%63 & :%&
F?:5;(=BG? &>? &$>$?E% &9,>%*P*$F? &>, & ;(O5 &9(?H,55?(,5 &>, & />=F%BG? &)"5$F%&
@=,&%;=%E&:=E%&,5F?6%&9(?H$55$?:%6$J%:;,&>%&Z,>,&),>,(%6&>,&/:5$:?L
.;<;=>;?@2B;=Cc & />=F%BG? & )"5$F%T & )?(E%BG? & >, & Q(?H,55?(,5T & e>,:;$>%>,&
Q(?H$55$?:%6
%:*,6?*%($*6$?UD?;E%$6LF?E
-'-7O26-'(-2"&)"'"%'3%'2-&)"H)-'!3!*0'+!*#60"6!/6?$J%&[$%5&b,#,5&.1))3&4(%5$67
8 & ,5F?6% & :? & E,$? & (=(%6 & R & =E & ;,E% & 9,($HR($F? & :% & 9,5@=$5% & />=F%F$P:%6&
A(%5$6,$(%L & /5;, & ;(%A%6D? & R & =E & (,6%;? & >, & 9%(;, & >, & =E & ,5;=>? & @=, & 5, & H$6$%&
^@=,6,5 & @=, & 9($#$6,*$%E3 & 9?( & =E & 6%>?3 & % & $E9?(;]:F$% & >?5 & F?:;,N;?5 & ,&
?(*%:$J%BC,5&,5F?6%(,53&,3&9?(&?=;(?3&?&(,%6F,&>%&5$:*=6%($>%>,&>?5&5=X,$;?5&
@=, & :,6%5 & ;(%A%6D%EL & _ & ?AX,;$#? & H?$ & F?:D,F,( & ? & ,N,(F"F$? & >? & ?H"F$? & >,&
9(?H,55?(,5&@=,&6,F$?:%E&#W($%5&>$5F$96$:%53&,E&;?>%5&%5&5R($,53&DW&E%$5&>,&
>,J & %:?53 & ,E & =E% & ,5F?6% & 9MA6$F% & 5$;=%>% & :? & E,$? & (=(%6 & H6=E$:,:5,&
A(%5$6,$(?3 & F=X?5 & ,5;=>%:;,5 & ;OE & ;$>? & ? & E,6D?( & >,5,E9,:D? & (,*$?:%6 & :?&
/N%E, & b%F$?:%6 & >? & /:5$:? & 'R>$? & ./b/'7L & _ & ,5;=>? & >, & F%5? & H,J & =5? & >,&
;RF:$F%5 & %55?F$%>%5 & ^ & ,;:?*(%H$% & .?A5,(#%BG? & 9%(;$F$9%:;,3 & %:W6$5, & >,&
>?F=E,:;?5 & , & ,:;(,#$5;% & A$?*(WH$F%73 & %6RE & >, & @=,5;$?:W($?3 & , & 9(?F=(?=&
F?E9(,,:>,( & @=%$5 & ?5 & 5,:;$>?5 & ?5 & 9(?H,55?(,5 & >G? & ^@=,6% & ,5F?6%3 & %55$E&
F?E? & @=%$5 & ?5 & ,5;$6?5 & >, & ,:5$:%( & >,5,:#?6#,EL & Q%(% & % & $:;,(9(,;%BG? & >?5&
>%>?53&%&$:;,(6?F=BG?&H?$&H,$;%&F?E&%=;?(,5&>%&5?F$?6?*$%&,&>%&%:;(?9?6?*$%3&
F?E?& &bP#?%3 &[=A%(3& &[=A,;3&V%:W($?3&S%(>$H3&2,,(;J&,&[%'%;;%L&_&*(=9?&
>?F,:;,&9,(F,A,&%&`,5F?6%<>%<>?:%<V6%$(a&9,6?&E,:?5&>,&;(O5&E?>?5c&=E%&
`,5F?6%<H%E"6$%aT&=E&,59%B?&>,&5,&,:5$:%(<%9(,:>,(T&,3&%$:>%3&?&`@=$:;%6&>%&
F%5%aL & _5& ,5;$6?5 & >, & ,:5$:%( & #%($%E & >, & %F?(>? & F?E & ,5;%5 & (,9(,5,:;%BC,5&
%:;,($?(,5L&
.;<;=>;?@AB;=C?8&?H"F$?&>?F,:;,3&,5;$6?5&>,&,:5$:%(3&,5;=>?&>,&F%5?L
,6?$J%>$%5:,#,5UY%D??LF?ELA(&&
-'7-2-'(*#'."#L36#*#'#-+!"'-')!*+*01-'2-0")6G-'
(-2"&)"
!">$%&V%E9?5&2?E,5&4?Y&&.1)'23&4(%5$67
8>($%:%&'%($%&V%:F,66%&[=%(;,&.1)'23&4(%5$67
/5;,&;(%A%6D?&%9(,5,:;%&?5&(,5=6;%>?5&>,&=E%&%E96%&(,#$5G?&>,&6$;,(%;=(%&
%F,(F%&>?&;(%A%6D?&F?6,;$#?&,:;(,&>?F,:;,53&9%(;$F=6%(E,:;,&?5&>%&,>=F%BG?&
AW5$F%L & 4=5F?=<5, & 5$5;,E%;$J%( & ? & F?:D,F$E,:;? & XW & 9(?>=J$>? & 5?A(, & ?&
;(%A%6D? & F?6,;$#? & >?F,:;, & :? & 4(%5$63 & :%5 & (,>,5 & 9MA6$F%53 & ?(*%:$J%:>? & ?5&
(,5=6;%>?5 & >, & >$H,(,:;,5 & $:#,5;$*%BC,5 & , & >%:>? & >,5;%@=, & ^ & H?(E% & >,&
F?:F,A,(&?&;(%A%6D?&F?6,;$#?&:,55%5&9(?>=BC,5L&)?(%E&%:%6$5%>%5&;,5,5&>,&
>?=;?(%>?&.jh73&>$55,(;%BC,5&>,&E,5;(%>?&.jg73&%(;$*?5&>,&9,($P>$F?5&.ji73&
6$#(?5 & .jm7 & , & %:%$5 & >, & F?:*(,55?5 & .ji73 & ;?;%6$J%:>? & mh & ;(%A%6D?5L & _5&
(,5=6;%>?5&(,#,6%E& @=,& ?&;(%A%6D?&F?6,;$#?&;,E&5$>?&$:#,5;$*%>?&9,6%&5=%&
:%;=(,J%3 & F?:>$BC,53 & $>,:;$>%>,3 & 9(W;$F%53 &:? & F?:;,N;? & >, & F%>% & (,>, & >,&
,:5$:?3 & , & ;(%J,:>? & %5 & 9%(;$F=6%($>%>,5 & >, & F%>% & ,5F?6% & %:%6$5%>%L & b?;%<5,&
%$:>% & @=, & % & E%$?($% & >?5 & ;(%A%6D?5 & ,:F?:;(%>?5 & (,H,(,<5, & ^5 & ,5F?6%5 & >,&
,>=F%BG?&AW5$F%&,3&=;$6$J%E&F?E?&F%E9?&>,&,5;=>?3&%5&,5F?6%5&6?F%6$J%>%5&
:?&,5;%>?&,&:?5&E=:$F"9$?5&>,&KG?&Q%=6?04(%5$6L&
.;<;=>;?@AB;=C8&;(%A%6D?&F?6,;$#?3&;(%A%6D?&F?6%A?(%;$#?3&;(%A%6D?&>?F,:;,
6$>$%A?YU*E%$6LF?E
>($<>=%(;,U=?6LF?ELA(
!".!"#"&)*49"#'#-26*6#'("')!*+*01-'(-2"&)"'"'7-!%*45-'
.-!'.!-7"##-!"#'(-'"&#6&-'73&(*%"&)*0'"'*03&-#'("'
."(*:-:6*8'3%'"#)3(-'2-%.*!*)6GI,6,:$F,&'%$%&2?:B%6#,5&.1:$#,(5$>%>,&/5;WF$?&>,&KW3&4(%5$67
V?E9%(?=<5,&?5&(,5=6;%>?5&>,&>=%5&9,5@=$5%5c&.m7&Z,9(,5,:;%BC,5&5?F$%$5&
>, & 5,( & 9(?H,55?( & (,%6$J%>% & 9,6? & Ve/ZK</> & F=X? & ?AX,;$#? & ,(% & A=5F%( & %5&
(,9(,5,:;%BC,5 &5?F$%$5 &>, &5,(&9(?H,55?( &F?:5;(=">%5 &9?(&iLovt&,5;=>%:;,5&
>?5 & 9($E,$(?5 & %:?5 & >, & Q,>%*?*$% & , & !$F,:F$%;=(%5 & , & .i7 & Z,9(,5,:;%BC,5&
5?F$%$5&>,&H?(E%BG?&,&;(%A%6D?&>?F,:;,&F?:5;(=">%5&9?(&sj&9(?H,55?(,5&>,&
F=(5? & b?(E%6 & , & sm& >, &Q,>%*?*$% &F?:>=J$>% &9,6? & QQ2/<1b/K8L& V?:F6=$<5,&
@=, & 5,:;$E,:;?5 & (,6%F$?:%>?5 & ^ & >,>$F%BG? & , & %E?( & %?5 & %6=:?5 & ,5;G?&
9(,5,:;,5&:?5&;(O5&*(=9?5T&?5&$:*(,55%:;,5&:?&F=(5?&>,&Q,>%*?*$%&,59,(%E&
@=,&?&F=(5?&>,&H?(E%BG?&6D,5&`,:5$:,&%&,:5$:%(a&,&?5&9(?H,55?(,5&@=,&XW&
%;=%E&(,*$5;(%E&@=,&5=%&H?(E%BG?&H?$&H%6D%&,&>$5;%:F$%>%&>%&(,%6$>%>,&>%&
5%6%&>,&%=6%&:G?&?5&9(,9%(%:>?&9%(%&%;=%(L&Q?(;%:;?3&5P&F?:;%E&F?E&5=%&
#?F%BG?&9%(%&,:H(,:;%(&?&F?;$>$%:?&,5F?6%(L&w=%:;?&%?&;(%A%6D?&>?F,:;,3&?5&
$:*(,55%:;,5&9%(,F,E&(,6%F$?:W<6?&^&;(?F%&,&^&%X=>%&,:;(,&F?6,*%53&5,:>?&
:,F,55W($?&96%:,X%(&5=%5&%;$#$>%>,5L&_5&9(?H,55?(,5&%;=%:;,5&(,#,6%E&@=,&%&
>,5#%6?($J%BG? & , & % & >,5%;=%6$J%BG? & F?:;($A=,E & 9%(% & ;?(:%( & 5,= & ;(%A%6D?&
>,5*%5;%:;,L & Q?( & $55? & :,F,55$;%E & 5,( & >,>$F%>?53 & 9%F$,:;,5 & , & %E%( & 5,=5&
%6=:?5L&S?E%:>?&%5&X=5;$H$F%;$#%5&>?5&9(?H,55?(,5&,&%5&@=,5;C,5&%A,(;%5&>?&
@=,5;$?:W($?&@=,&5,&(,H,(,E&^&H?(E%BG?&,&%?&;(%A%6D?&>?F,:;,3&H?$&9?55"#,6&
F?:H$(E%(&%5&%:W6$5,5&,E9(,,:>$>%5&%:;,($?(E,:;,L&
.;<;=>;? ' AB;=C?8& Z,9(,5,:;%BC,5 & K?F$%$5L & )?(E%BG? & >, & Q(?H,55?(,5L&
S(%A%6D?&[?F,:;,L
D,6,E%$%U=?6LF?ELA(
"(32*26F&8'P#6!G"'.*!*'*0:-'0*'760-#-7O*Q
!=$5&/(E,6&K?6"5&8F?5;%&.1VI0eKQK'3&Q,(M7
e:;,((?*%(5,&%F,(F%&>,&6%&=;$6$>%>&>,&%6*?&$E96$F%&%#,($*=%(&F=W6,5&9=,>,:&
5,( & 6%5 & H?(E%5 & F?E? & 5$(#, & ,5, & %6*?3 & 9,(? & ;%EA$R: & 6%5 & H?(E%5 & FPE? & 5,&
5=9?:,&5$(#,c&,5&>,F$(3&FPE?&5=9?:,&6%&A=(*=,5"%&@=,&>,A,&5,(&6%&H$6?5?H"%L&
/:&F?:5,F=,:F$%3&D%Y&@=,&#,(&F=W:>?&6%&H$6?5?H"%&:?&5$(#,&9%(%&:%>%L
.;<;D>;?'A<;=C8&H$6?5?H$%3&,>=F%F$P:3&:,?6$A,(%6$5E?
5?6$5%F?5;%UY%D??LF?E
.!-76##5-'(-2"&)"'"%'2-&)"H)-#'.-.30*!"#8'&-)*#'#-+!"'
3%*'"#2-0*'.!6G*(*'
e5%A,6&!,6$5&.Q1V<Z$?3&4(%5$67&
8:*,6%&eP($?&.Q1V<Z$?3&4(%5$67
QD$66$9$&855$5&.Q1V<Z$?3&4(%5$67
Z$;%&'=(Y&.Q1V<Z$?3&4(%5$67
K$6#%:%&',5@=$;%&.Q1V<Z$?3&4(%5$67
SD%Y5%&>?&+%6,&.Q1V<Z$?3&4(%5$67
/5;,&;,N;?&%9(,5,:;%&>%>?5&9(,6$E$:%(,5&%F,(F%&>?&9,(H$6&>?5&9(?H,55?(,5&>?&
,:5$:?&H=:>%E,:;%6&>,&=E%&,5F?6%&9($#%>%&6?F%6$J%>%&:?&5=AM(A$?&F%($?F%3&
H(,@=,:;%>% & 9?( & F%E%>%5 & ER>$%5 & $:H,($?(,5 & , & 5,;?(,5 & 9?9=6%(,5L & 8&
E?;$#%BG?&9%(%&%&(,%6$J%BG?&>%&9,5@=$5%3&$:$F$%>%&,E&ijjv3&%9?$?=<5,&:%&
F?:5;%;%BG?&>,&@=,&,:;(,&%5&,5F?6%5&>%&(,>,&9MA6$F%&.E=:$F$9%63&,5;%>=%6&,&
H,>,(%67 & , & ?5 & ,5;%A,6,F$E,:;?5 & 9%(;$F=6%(,5 & F?:5$>,(%>?5 & >, & ,NF,6O:F$% & ,&
>,5;$:%>?5&^5&F%E%>%5&E%$5&%6;%5&>%&5?F$,>%>,3&5$;=%<5,&=E&F?:X=:;?&>,&
,5F?6%5 & 9($#%>%5 & @=,3 & :G? & 9,(;,:F,:>? & % & :,:D=E & >,55,5 & >?$5 & *(=9?53&
%;,:>, & %?5 & 5,;?(,5 & 9?9=6%(,5 & ,3 & 9?( & $55?3 & %9(,5,:;% & F%(%F;,("5;$F%5&
,59,F"H$F%5&,&>$5;$:;%5&>%@=,6%5&F?:5$>,(%>%5&F?E=:5&%?5&,5;%A,6,F$E,:;?5&
9($#%>?5L &KG? &$:5;$;=$BC,5&@=, &5, &>$5;($A=,E&*,?*(%H$F%E,:;, &9,6%&F$>%>,&
>?&Z$?&>,&\%:,$(?3&E%5&F?E&=E%&H?(;,&9(,5,:B%&:%&x?:%&_,5;,&>%&F$>%>,3&,&
@=, & F?:5;$;=,E & =E & ?AX,;? & 5$6,:F$%>? & :% & 6$;,(%;=(% & />=F%F$P:%6 & %;R & ?&
E?E,:;?L&_5&>%>?5 &%H,($>?5&%9?:;%E &9%(% &%&:,F,55W($% &9(?A6,E%;$J%BG?&
>?&E$;?&>%&5=9,($?($>%>,&>%&,5F?6%&9($#%>%&5?A(,&%&,5F?6%&9MA6$F%L,&$:>$F%E&
% & $E9?(;]:F$% & >, & %E96$%( & % & $:#,5;$*%BG? & %;(%#R5 & >% & $:5,(BG? & ,E & ?=;(%5&
,5F?6%5&F?E&F%(%F;,("5;$F%5&5,E,6D%:;,53&%&H$E&>,&E,6D?(&(,H6,;$(&%F,(F%&>?&
;(%A%6D?&>?F,:;,&>,5,:#?6#$>?&:,55,&;$9?&>,&$:5;$;=$BG?L
.;<;=>;?@2B;=C8&;(%A%6D?&>?F,:;,3&,5F?6%5&9($#%>%53&5,;?(,5&9?9=6%(,5
$5%A,66U9=F<($?LA(
%:*,6%<$?($?UD?;E%$6LF?E
&%55$5L9D$66$9$U*E%$6LF?E
($;%E=(YUY%D??LF?ELA(
5$6#%:%LE,5@=$;%U$*LF?ELA(
;D%Y5%*%6,:?U*E%$6LF?E
"#)*%-#'21":*&(-J'(*L36'"'(*06'RC'S>TUC??T>C?V;?J'T?'
RC?<TA;WCXYT?
e:O5&855=:BG?&>,&V%5;(?&S,$N,$(%&.1)'23&4(%5$67
VR6$%&b=:,5&.1)_Q3&4(%5$67
!=F%5&K%(>$:D%&.1)'23&4(%5$67
2$6E%(%&K?=J%&.1)'23&4(%5$67
b%&,>=F%BG?&AW5$F%&A(%5$6,$(%3&,E&,59,F$%63&:G?&(%(?&?50%5&9(?H,55?(,50%5&5,&
>,56?F%E & ,:;(, & =E% & 5%6% & >, & %=6% & , & ,5F?6%3 & ,:;(, & ,5;% & , & %@=,6% & (,>, & >,&
,:5$:?3&,:;(,&A%$((?5&,&F$>%>,5L&/6,5&,&,6%5&;(%:5$;%E3&>$%($%E,:;,3&#%6,:;,&,&
#%6?(?5%E,:;,3 & :=E & #%$ & , & #,E & ,:;(, & X?(:%>%5 & >, & ;(%A%6D? & E%;=;$:%53&
#,59,(;$:%53 & :?;=(:%5L & [,5;,5 & >,56?F%E,:;?5 & >?F,:;,53 & ,5;, & ;(%A%6D?&
%:%6$5% & % & E=>%:B% & >, & =E% & (,>, & >, & ,:5$:? & ^ & ?=;(% & (,%6$J%>% & 9,6?5&
9(?H,55?(,5 & :?#%;?53 & (,FRE & FD,*%>?5 & ^ & Z,>, & '=:$F$9%6 & >, & />=F%BG? & >,&
4,;$EL&/EA?(%&XW&;(%A%6D%55,E&,E&?=;(%5&,5F?6%5&,&(,>,5&>,&,:5$:?3&,6,5&,&
,6%5 & %5 & >,$N%(%E & ?= & % & ,6%5 & %*(,*%(%E & %5 & ,5F?6%5 & >% & Z,>, & '=:$F$9%6 & >,&
/:5$:? & >, & 4,;$E & .'$:%5 & 2,(%$53 & 4(%5$673 & ?:>, & $:*(,55%(%E & ,:;(, & X%:,$(? & ,&
E%(B? & >, & ijjt3 & %9P5 & %9(?#%BG? & ,E & F?:F=(5? & 9MA6$F? & 9%(% & ? & /:5$:?&
)=:>%E,:;%6&ee3&(,%6$J%>?&,E&ijjvL&8;(%#R5&>,&@=,5;$?:W($?53&>,&,:;(,#$5;%5&
, & %:W6$5, & >, & E,E?($%$5 & >,5;,5 & :?#%;?53 & =E & *(=9? & >, & gv & 9(?H,55?(,5 & >,&
#W($%5 & W(,%5 & >, & F?:D,F$E,:;?3 & ? & ,5;=>? & $:#,5;$*?= & %5 & 6,EA(%:B%5 & @=,&
;(?=N,(%E&F?:5$*?&%F,(F%&>,&5=%5&D$5;P($%5&,&#$#,(,5&F?E?&9(?H,55?(,53&?5&
E?;$#?5&@=,&?5&6,#%(%E&%&9(?F=(%(,E&=E%&?=;(%&(,>,&>,&,:5$:?3&A,E&F?E?&
%5&,N9,F;%;$#%5&@=,&;(?=N,(%E&F?:5$*?&:,5;,&(,F?E,B?3&=E%&:?#%&,;%9%&>,&
5=%5&D$5;P($%5&,&>,56?F%E,:;?5&9,6?&E=:>?&>?&;(%A%6D?&:%&,5F?6%L
.;<;=>;?@AB;=C8&>,56?F%E,:;?3&9(?H,55?(,53&;(%A%6D?
$:,5;,$U=?6LF?ELA(
FEH:=:,5U*E%$6LF?E
6=F%5L5%(>$:D%UY%D??LF?ELA(
*$6E%(%L*$65?=J%UD?;E%$6LF?E
!"%3&"!*26-&"#'("'0-#'(-2"&)"#'"&'2160"8'!"#-0G6"&(-'3&*'
*.*!"&)"'.*!*(-,*
\=%:&Q%A6?&+%6,:J=,6%&4L&.1:$#,(5$>%>&>,&VD$6,3&VD$6,7
86,X%:>(?&K,#$66%&/L&.1:$#,(5$>%>&>,&VD$6,3&VD$6,7
V($5;$W:&4,66,$&VL&.1:$#,(5$>%>&>,&VD$6,3&VD$6,7
[%:%,&>,&6?5&Z"?5&.1:$#,(5$>%>&>,&VD$6,3&VD$6,7
!% & ,#$>,:F$% & $:;,(:%F$?:%6 & ,5 & F?:5$5;,:;, & ,: & (,F?:?F,( & @=, & 6%5&
(,E=:,(%F$?:,5 & >, & 6?5 & 9(?H,5?(,53 & (,6%;$#? & % & 6%5 & ?A;,:$>%5 & ,: & ?;(%5&
9(?H,5$?:,53&,5&F(";$F?&9%(%&F?:;%( &F?: &>?F,:;,5&>,&F%6$>%>&,:&,6&5$5;,E%&
,5F?6%(L & I%5;% & ,6 & E?E,:;?3 & >$#,(5%5 & $:#,5;$*%F$?:,5 & @=, & %:%6$J%: & 6?5&
5%6%($?5 & >, & 6?5 & >?F,:;,5 & FD$6,:?5 & 5,l%6%: & @=, & R5;?5 & (,F$A,: & =:%&
(,E=:,(%F$P: & 9?( & D?(% & 5$E$6%( & % & 6% & >, & ;(%A%X%>?(,5 & F?: & F%(%F;,("5;$F%5&
5$E$6%(,5&%&,66?53&F?:F6=5$P:&@=,&5,&F?:;(%>$F,&F?:&6?5&(,5=6;%>?5&>,&?;(%5&
H=,:;,5&>,&$:H?(E%F$P:3&F?E?&)=;=(?6%A?(%63&>,&6%&F=%6&5,&F?:F6=Y,&@=,&6?5&
9(?H,5?(,5 & (,F$A,: & $:*(,5?5 & E,:5=%6,5 & 9(?E,>$? & @=, & %6F%:J%: & 5P6? & % & 6%&
E$;%>&>,&6?5&@=,&9,(F$A,:&?;(?5&9(?H,5$?:%6,5L&/5;,&,5;=>$?&,N96$F%&@=,&6%5&
>$H,(,:F$%5&,:;(,&,5;?5&(,5=6;%>?5&5,&,N96$F%:&9?(&9(?A6,E%5&,:&,6&*(=9?&>,&
F?E9%(%F$P:&9%(%&%:%6$J%(&6?5&5%6%($?5&>,&6?5&>?F,:;,53&,6&F=%6&>,A$,5,&5,(&
,6 & (,5;? & >, & 6?5 & 9(?H,5$?:%6,53 & Y & :? & ,: & A%5, & % & ;?>?5 & 6?5 & ;(%A%X%>?(,5 & >,6&
E,(F%>?&6%A?(%63&%5"&F?E?&;%EA$R:&,:&,6&D,FD?&@=,&6?5&>?F,:;,5&;(%A%X%:&
E,:?5&D?(%5&@=,&,6&(,5;?&>,&6?5&9(?H,5$?:%6,5&Y&;%EA$R:&(,F$A,:&E,:?(,5&
$:*(,5?5&6%A?(%6,5&5,F=:>%($?5L
.;<;D>;?'A<;=C8&F%6$>%>3&5%6%($?53&A(,FD%L
X9L#%6,:J=,6%AU*E%$6LF?E
%5,#$66%UF$%,L=FD$6,LF6
F($5;$%:A,66,$U*E%$6LF?E
>>,6?5U=E$FDL,>=
-')!*+*01-'(-2"&)"'&*'"#2-0*'.$+062*8'"0"%"&)-#'("'
13%*&6E*45-'"'("#3%*&6E*45-'
K%:>(%&\%F@=,6$:,&4%(A?5%&.)%F=6>%>,&)?(;$=E3&4(%5$67
_ & %(;$*? & ;,#, & F?E? & ?AX,;$#? & F?E9(,,:>,( & F?E? & %5 & %;($A=$BC,5 & >?F,:;,5&
9?>,E & 5, & ;(%>=J$( & ,E & ,6,E,:;?5 & >, & D=E%:$J%BG? & , & >,5=E%:$J%BG? & >?5&
9(?H,55?(,5 & :%5 & 5R($,5 & $:$F$%$5 & >% & />=F%BG? & 4W5$F%3 & :% & (,>, & 9MA6$F% & >?&
[$5;($;? & ),>,(%6L & 8 & %A?(>%*,E & E,;?>?6P*$F% & 5$;=%<5, & :% & 9,(59,F;$#%&
@=%6$;%;$#%3 & F?:5$>,(%:>?<5, & % & D$5;?($F$>%>,3 & %5 & (,6%BC,5 & , & %5 & 9,(F,9BC,5&
>?5&9(?H,55?(,5&F?E&E%$5&>,&>,J&%:?5&>,&,N9,($O:F$%L&Q%(;$=<5,&>?&5,*=$:;,&
9(?A6,E%c & >, & @=, & E%:,$(% & ? & ;(%A%6D? & >?F,:;, & 9%55% & % & 5,( & ,6,E,:;? & >,&
>,5=E%:$J%BG?f & /3 & %? & E,5E? & ;,E9?c & F?E? & ?5 & 9(?H,55?(,5 & % & >,59,$;?&
>,55%5&:?#%5&,N$*O:F$%5&5,:;,E&9(%J,(&,&(,%6$J%BG?&9,55?%6&,&9(?H$55$?:%6&
,E&5,=&;(%A%6D?f&_5&(,5=6;%>?5&%&@=,&5,&FD,*%E&5G?&>,&@=,&?5&,6,E,:;?5&
?AX,;$#?5 & >, & >,5=E%:$J%BG? & 5, & ,N9(,55%E & %;(%#R5 & >, & 9?6";$F%5 & 9MA6$F%5&
>,5%(;$F=6%>%5 & F?E & %5 & :,F,55$>%>,5 & >?5 & 9(?H,55?(,5T & :?#?5 & %((%:X?5&
9,>%*P*$F?5&9%(%&5=9($(&%5&>$H,(,:;,5&>,E%:>%5&5?F$%$5&,&>,&%9(,:>$J%*,:5&
>?5&,5;=>%:;,5L&85&9(?H,55?(%5&F($%E&E,F%:$5E?5&>,&(,5$5;O:F$%&,E&E,$?&%&
,55,&9(?F,55?3 &E?5;(?=<5, &@=,&,6%5&$:;,($?($J%E&5=%5&:?#%5&%;($A=$BC,5 &,&
9(?F=(%E&E,$?5&@=,&$E9,B%E&%&5=%&>,5=E%:$J%BG?&9?(&E,$?&>?&;(%A%6D?&
,5;(%:D%>?L
.;<;=>;?@AB;=C8& S(%A%6D? & >?F,:;,L & e:;,:5$H$F%BG? & >? & ;(%A%6D?L & Q?6";$F%5&
9%(%&/>=F%BG?&4W5$F%L
A%(A?5%X%FU*E%$6LF?E
*#'2-&(649"#'(-')!*+*01-'(-2"&)"8'*'2-&#)!345-'(*'
6("&)6(*("'.!-76##6-&*0'"&)!"'."!%*&Z&26*#'"'
*+*&(-&-#
\?5R&V%(6?5&2%6#G?&!,E?5&.2/Q/VV/01be)/KQ3&4(%5$67
V?E&?&?AX,;$#?&>,&F?E9(,,:>,(&%&F?:5;$;=$BG?&>?&9(?F,55?&>,&F?:5;(=BG?&
>%&$>,:;$>%>,&9(?H$55$?:%6&>?F,:;,3&H?(X%>?&,:;(,&?&,:F%:;?&,&?&>,5,:F%:;?&
F?E&%&9(?H$55G?&,&F?E&?5&,6,E,:;?5&@=,&%&F%(%F;,($J%E3&5,6,F$?:%E?5&9%(%&
,55%&9,5@=$5%&>?$5&*(=9?5&>,&9(?H,55?(,5L&_&9($E,$(?3&H?(E%>?&9?(&>?F,:;,5&
@=,&%A%:>?:%(%E&?&E%*$5;R($?&,3&?&5,*=:>?3&9?(&>?F,:;,5&@=,&>,$N%(%E&%&
5%6%&>,&%=6%&9%(%&,N,(F,(,E&%&H=:BG?&>,&>$(,;?(,5&>,&,5F?6%L&1;$6$J%E?5&%&
,:;(,#$5;% & 5,E$<,5;(=;=(%>% & 9%(% & % & F?6,;% & >, & >%>?5 & ,3 & 9%(% & %:W6$5, & >?&
E%;,($%63 & %5 & F?:;($A=$BC,5 & >% & K?F$?6?*$%3 & F?E & >,5;%@=, & 9%(% & %5&
F?:;($A=$BC,5&>,&[=A%(3&V,(;,%=&,&4?=(>$,=L&[,H,:>,E?5&@=,&?&9(?F,55?&>,&
F?:5;(=BG? & >% & $>,:;$>%>, & 9(?H$55$?:%6 & >?F,:;, & R & E%(F%>? & 9?( & F?:5;%:;,5&
9(?F,55?5 &>, &(=9;=(%5&,&F?:;$:=$>%>,5&@=, &,N,(F,E&*(%:>, &$:H6=O:F$%&:%&
F?:5;(=BG? & $>,:;$;W($%3 & $:F6=5$#, & :% & ,6%A?(%BG? & >, &;W;$F%5& 9?( & 9%(;, & >?5&
9(?H,55?(,5 & 9%(% & 5, & E%:;,(,E & :% & 9(?H$55G?3 & F($%:>?3 & %55$E3 & H?(E%5&
,=H,E$J%>%5&>,&%A%:>?:?3&=E&%A%:>?:?&,E&5,(#$B?3&@=,&F?E&?&9%55%(&>?&
;,E9? & ,#?6=$ & 9%(% & ? & %A%:>?:? & >,H$:$;$#? & >% & 9(?H$55G?L & V?:F6="E?5 & ,&
>,H,:>,E?5&%&H?(E=6%BG?&=(*,:;,&>,&9?6";$F%5&9MA6$F%5&F?E&#$5;%5&^&H$N%BG?&
>?5 & 9(?H,55?(,5 & :%5 & =:$>%>,5 & ,5F?6%(,53 & @=, & >,#,E & 9%55%(3&
$:,#$;%#,6E,:;,3&9,6%&E,6D?($%&>%5&F?:>$BC,5&>,&;(%A%6D?&,&9?(&=E%&E%$?(&
#%6?($J%BG?&9(?H$55$?:%6L
.;<;=>;?@AB;=C8&e>,:;$>%>,&Q(?H$55$?:%63&Q(?H,55?(,53&Q?6";$F%&/>=F%F$P:%6L
X*%6#%?,6E?5U=?6LF?ELA(&
("'L3*0')!*+*01-'#"'7*0*Q'%-G6%"&)-#'("'#"&)6(-#'#-+!"'*'
&*)3!"E*J'.!-2"##-#'"'2-&(649"#'("')!*+*01-'(-#'
.!-7"##-!"#
!$6$%:%&K?%(,5&),((,$(%&.1)K'3&4(%5$67
y6#%(?&'?(,$(%&IY9?6$;?&.1)Q,63&4(%5$67
_ & ;(%A%6D? & >$5F=;, & % & %E96$%BG? & >, & 5,:;$>?5 & 5?A(, & ;(%A%6D? & % & 9%(;$( & >%&
%:W6$5,&>,&,5;=>?5&,&9,5@=$5%5&>,&?=;(?5&9,5@=$5%>?(,5 &5?A(,&?&;(%A%6D?&
>?F,:;,L & /5;, & ;,N;? & 5$5;,E%;$J% & =E% & $:#,5;$*%BG? & (,%6$J%>% & ,E & ?=;(?5&
;,N;?5&%9(,5,:;%>?5&:?&+ee&K,E$:W($?&>,&!%&Z,>&!%;$:?%E,($F%:%&>,&/5;=>?5&
5?A(,&S(%A%X?&[?F,:;,&.ijjv73&=;$6$J%:>?&?&ER;?>?&>,&%:W6$5,&>,&F?:;,M>?3&
%:%6$5%&?5 &5,*=$:;,5&;,E%5c &:%;=(,J%&>?&;(%A%6D?T &9(?F,55?5 &, &,H,$;?5 &>?&
F%9$;%6 & , & >? & F%9$;%6$5E? & :? & ;(%A%6D?T & (,6%BC,5 & >, & *O:,(?3 & F?:>$BC,5 & >?&
;(%A%6D?&,&H?(E%BG?&>?F,:;,L&V?:F6=$&@=,&DW&:,F,55$>%>,&>,&E%$5&,5;=>?5&,&
@=, & ?5 & ;,(E?5 & ;(%A%6D? & >?F,:;,3 & ;(%A%6D? & 9,>%*P*$F?3 & ;(%A%6D? & >?5&
9(?H,55?(,5 & , & ?=;(?5 & ;,(E?5 & ,E9(,*%>?5 & :?5 & ;,N;?5 & %:%6$5%>?53 & E=$;%5&
#,J,53&5,&%9(,5,:;%E&F?E?&5$:p:$E?53&>,$N%:>?&6%F=:%5&$E9?(;%:;,5&9%(%&
?5&5$*:$H$F%>?5&,E9(,*%>?5L
.;<;=>;?@2B;=C8&;(%A%6D?3&,5F?6%3&9?6";$F%5&9MA6$F%5L
%:%$6$6H,((,$(%UY%D??LF?ELA(
%6#%(?LDY9?6$;?U*E%$6LF?E
*#'"&)!"06&1*#'(*#'!"0*49"#'6&)"!."##-*6#'&-'2-)6(6*&-'"'
-')!*+*01-'(-2"&)"
/6$,;,&\=55%(%&b?*=,$(%&.1:$#,(5$>%>,&>,&K?(?F%A%3&4(%5$67
)6%#$:O5&Z,A?6?&.1:$#,(5$>%>,&V%;P6$F%&[?E&4?5F?3&4(%5$67
'%($%&!MF$%&>,&8E?($E&K?%(,5&.1:$#,(5$>%>,&>,&K?(?F%A%3&4(%5$67
/5;,&;,N;?&;,E&F?E?&?AX,;$#?&%9(,5,:;%(&%5&(,H6,NC,5&(,%6$J%>%5&F?E&#$5;%5&
% & E,6D?( & F?E9(,,:>,( & ? & F?;$>$%:? & ,5F?6%( & F?:;,E9?(]:,?3 & A=5F%:>?&
>,5#,6%(3 & :%5 & ,:;(,6$:D%53 & %5 & ,59,F$H$F$>%>,5 & @=, & F?:H$*=(%E & %5 & (,6%BC,5&
9(?H,55?(<%6=:?&,&%5&F?:>$BC,5&9%(%&?&;(%A%6D?&>?F,:;,L&V?:5$>,(%:>?&@=,&
%5 & ;(%:5H?(E%BC,5 & >% & 5?F$,>%>, & F?:;,E9?(]:,% & $:H6=,:F$%E & %5 & (,6%BC,5&
$:;,(9,55?%$5 & , & ,N$*,E & %>%9;%BC,5 & @=, & %6;,(%E & ?5 & #":F=6?5 & , & %;$;=>,5&
,5;%A,6,F$>%5&:?&F?;$>$%:?&,5F?6%(T&,&@=,&%&@=%6$>%>,&>,55%5&(,6%BC,5&,5;W&
>$(,;%E,:;, & (,6%F$?:%>% & %? & F?:;,N;? & 5?F$%6 & E%$5 & %E96?3 & %? & ;$9? & >,&
?(*%:$J%BG?&>?&5$5;,E%&>,&,:5$:?&,&>%&,5F?6%&,&^5&$>$?55$:F(%5$%5&>,&F%>%&
9,55?%3&9(,;,:>,<5,&>$5F=;$(&%5&:?#%5&F?:H$*=(%BC,5&>%&(,6%BG?&9(?H,55?(&,&
%6=:?&,&>,&@=,&H?(E%&,55%&F?:H$*=(%BG?&%H,;%&%5&F?:>$BC,5&>,&;(%A%6D?&,&%&
@=%6$>%>,&>,&#$>%&>?5&9(?H,55?(,5L&_&9(?F,>$E,:;?&E,;?>?6P*$F?&%>?;%>?&R&
>, & 9,5@=$5% & A$A6$?*(WH$F% & (,%6$J%>% & % & 9%(;$( & >, & =E% & 6,$;=(% & %:%6";$F% & ,&
$:;,(9(,;%;$#% & >? & (,H,(,:F$%6 & ;,P($F? & =;$6$J%>? & 9,6%5 & %=;?(%5 & ,E & 9,5@=$5%5&
>,5,:#?6#$>%5&%:;,($?(E,:;,L&V?:F6=$<5,&@=,&R&A%5$F%E,:;,&>,:;(?&>,&=E&
%EA$,:;, & ?:>, & ? & F=$>%>? & F?E & % & @=%6$>%>, & >%5 & (,6%BC,5 & $:;,(9,55?%$5 & R&
F?:5;%:;,&,&5,E9(,&>$($*$>?&%&E,6D?(W<6%3&@=,&5,&;?(:%&9?55"#,6&E,6D?(%(&%5&
F?:>$BC,5&>,&;(%A%6D?&>?5&9(?H,55?(,5L
.;<;=>;?@AB;=C8 ';(%A%6D? & >?F,:;,3 & F?;$>$%:? & ,5F?6%(3 & (,6%BG? & 9(?H,55?(<
%6=:?
,6$,;,L:?*=,$(%U9(?HL=:$5?LA(
H6%#$:,5L(,A?6?U=?6LF?ELA(
&E%($%L5?%(,5U9(?HL=:$5?LA(
.*##*(-#'"#2-0*!"#'"%'0"%+!*&4*#'("'.!-7"##-!*
VD%(6,5&'?(,$(%&V=:D%&.1)'23&4(%5$67&
e:O5&855=:BG?&>,&V%5;(?&S,$N,$(%&.1)'23&4(%5$67
K=9?:>?&@=,&?50%5&9(?H,55?(,50%5&;OE&F?:5$*?&6,EA(%:B%5&>,&,5F?6%53&@=,&
(,#,(A,(%E&,E&5=%5&H?(E%5&>,&(,%6$J%(&%&>?FO:F$%3&%&$:#,5;$*%BG?&,5F=;%(&
;%$5&(,F?(>%BC,5L&Q?(&E,$?&>,&,:;(,#$5;%5&:%((%;$#%5&$:>$#$>=%$5&,&,:;(,#$5;%&
F?6,;$#%&F?E&;(O5&9(?H,55?(%5&E=:$F$9%$5&>,&4,;$E&.'273&A=5F%E?5&>,5#,6%(&
?&@=,&H?$&5$*:$H$F%;$#?&,E&5,=5&;,E9?5&>,&%6=:?5L&KG?&6,EA(%:B%5&(,6%;$#%5&
^5&$E%*,:5&,&(,6%BC,5&@=,&,6%5&#$#,(%E&F?E&5,=5&,N<9(?H,55?(,5&,&F?6,*%5&
>,&,5F?6%T&%&%(@=$;,;=(%3&?5&6=*%(,53&H%J,(,5&,&?AX,;?5&@=,&D%A$;%(%E&5=%5&
#$>%5&:%5&,5F?6%5T&?5&($;=%$5&,&9(W;$F%5&:%&F=6;=(%&>%&,5F?6%&,&:%&5%6%&>,&
%=6%3 & ,:;(, & ?=;(%5 & 9(,;R($;%5 & #$#O:F$%5 & >$5F,:;,53 & F?5;=(%>%5 & >, & %H,;?5 & ,&
5,:;$E,:;?5 & #W($?5L & _(% & (,F?(>%>?5 & F?E? & %6,*($% & , & 9(%J,(3 & ?(% & F?E?&
>$H$F=6>%>,5&,&9,@=,:?5&5?H($E,:;?53&$:5F($;?5&:?5&E?E,:;?5&,&,N9,($O:F$%5&
(,#$#$>?5 & :%5 & 6,EA(%:B%5L & b?5 & ?($,:;%E?5 & F?E & ?5 & 9($:F"9$?5 & ;,P($F?<
,95;,E?6P*$F?5 & >% & I$5;P($% & _(%6L & 4=5F%<5, & F?E9(,,:>,( & ? & @=, & ;%$5&
6,EA(%:B%5&(,9(,5,:;%E3&?=&@=%6&%&5=%&$E9?(;]:F$%&:%5&,N9,($O:F$%5&>%5&
9(?H,55?(%5&:?&9(,5,:;,L&
.;<;=>;@AB;=C8&6,EA(%:B%3&,5F?6%3&>?FO:F$%L
FD%(6,5F=:D%UD?;E%$6LF?E
$:,5;,$U=?6LF?ELA(
2-)6(6*&-'(*'3&6G"!#6(*("'.$+062*J')!*+*01-'(-2"&)"'"'0"6'
("'6&-G*45-')"2&-0F:62*
Q,>(?&I,:($@=,&>,&K?=5%&S%#%(,5&.1)Q83&4(%5$67&
/5;, & %(;$*? & >$5F=;, & ? & 5=(*$E,:;? & >, & =E% & :?#% & (?;$:% & :%5 & =:$#,(5$>%>,5&
9MA6$F%5 & , & 5=%5 & $E96$F%BC,5 & :? & ;(%A%6D? & >?5 & 9(?H,55?(,5L & S?E%:>? & F?E?&
9?:;?&>,&9%(;$>%&?&$:"F$?&>%5&(,H?(E%5&:,?6$A,(%$5&:%&,>=F%BG?3&?&;(%A%6D?&
>$5F=;,&%&%9(?N$E%BG?&>%5&=:$#,(5$>%>,5&,&5,=5&E?>,6?5&?(*%:$J%F$?:%$5&,&
>,&*,5;G?&F?E&?5&9%(%>$*E%5&>?&E,(F%>?L&Q%(%&?&;%:;?&%:%6$5%(,E?5&%&!,$&
>, & e:?#%BG? & S,F:?6P*$F% & , & 5=%5 & F?:5,@nO:F$%5 & 5?A(, & % & :%;=(,J% & ,&
$>,:;$>%>, & >? & ;(%A%6D? & >?F,:;,L & _ & F%E$:D? & E,;?>?6P*$F? & H?$ & 9,5@=$5%&
A$A6$?*(WH$F%&>%&6$;,(%;=(%&,N$5;,:;,&,&>?F=E,:;%6L&86*=E%5&>%5&F?:F6=5C,5&
%9?:;%E&%&9?55"#,6&5=A?(>$:%BG?&>?F,:;,&%?&F%9$;%6&9(?>=;$#?&,&%&9,(>%&>%&
%=;?:?E$%&:?&5,=&;(%A%6D?
.;<;=>;?@AB;=C8& (,H?(E%53 & H6,N$A$6$J%BG?3 & F?;$>$%:? & =:$#,(5$;W($?3 & ;(%A%6D?&
>?F,:;,L
9,>(?E$F%zUD?;E%$6LF?E
6%*:"&#'"'.*0*G!*#8'-'26&"%*'&*'G6(*'(-#'.!-7"##-!"#'(*'
!"("'%3&626.*0'("'"&#6&-'("'+"0-'1-!6E-&)"'[!%"+1\
8:%&!MF$%&>,&)%($%&8J,#,>?&.1)'23&4(%5$67
V%E$6%&>,&86E,$>%&)6?(,5&.1)'23&4(%5$67
Z,:%;%&b%Y%(%&Z$A,$(?&.1)'23&4(%5$67
/55,&;,N;?3&@=,&(,5=6;%&>,&=E&,5;=>?&,N96?(%;P($?&5?A(,&?&=:$#,(5?&F=6;=(%6&
>?5&9(?H,55?(,5&Z'/4I&9%(;$F$9%:;,5&>%&QP5<2(%>=%BG?&/59,F$%6$J%BG?&!%;?&
K,:5= & ,E & [?FO:F$% & :% & />=F%BG? & 4W5$F% & .!8K/473 & 9(,;,:>, & =E%&
%9(?N$E%BG?&$:$F$%6&F?E&%5&H?(E%5&9,6%5&@=%$5&?5&>?F,:;,5&5,&(,6%F$?:%E&
F?E&9(?>=;?5&F=6;=(%$5&>,&F%(W;,(&F?E,(F$%6 &,0?=&%(;"5;$F?&,E&*,(%6&,&,E&
,59,F$%63&F?E?&5,&(,6%F$?:%E&F?E&?&F$:,E%3&:%&5%6%&>,&%=6%&,&H?(%&>,6%L&
_9;%E?5 & 9?( & $:#,5;$*%( & %5 & (,6%BC,5 & >?5 & 9(?H,55?(,5 & F?E & ? & F$:,E% & 9,6%&
$E9?(;]:F$%&>,55,&E,$?&F?E?&>$#=6*%>?(&>,&$>R$%5&,&F?E9?(;%E,:;?53&9,6?&
5,= & 9?;,:F$%6 & ,>=F%;$#? & , & ;%EARE & 9?( & @=, & ?5 & H$6E,5 & ;OE & %=E,:;%>?&
F?:5$>,(%#,6E,:;, & 5,= & 9?>,( & >, & 9,:,;(%BG? & , & ,:H6=O:F$% & >,:;(, & %&
9?9=6%BG? & 9?( & F%=5% & >% & F(,5F,:;, & 9?9=6%($J%BG? & >?5 & ,@=$9%E,:;?5 & >,&
(,9(?>=BG?&>,&$E%*,:5L&V?E?&9(?F,>$E,:;?&E,;?>?6P*$F?&>,&9,5@=$5%&H?$&
,6%A?(%>? & , & %96$F%>? & =E & @=,5;$?:W($? & % & ks & 9(?H,55?(,5 & E=:$F$9%$5&
9%(;$F$9%:;,5 & >? & !%5,AL & Q%(% & F?E9?( & ? & @=,5;$?:W($?3 & ,6%A?(%E?5 & =E&
F?:X=:;?&>,&@=,5;C,5&@=,&9=>,55,E&%9?:;%(&%5&6$*%BC,5&@=,&?5&9(?H,55?(,5&
,5;%A,6,F,E&F?E&>$H,(,:;,5&>$59?5$;$#?5&H?(E%>?(,5&>,&?9$:$G?&,&>?&*?5;?&
,5;R;$F?L & S,E?5 & 9?( & D$9P;,5, & @=, & ,55% & (,6%BG? & 9?>, & $:>$F%( & F?E? & ,55,5&
9(?H$55$?:%$5&6$>%E&F?E&%5&E%:$H,5;%BC,5&F=6;=(%$5&,&%(;"5;$F%5&,E&5=%&#$>%&
9,55?%6&,&;%EARE&9(?H$55$?:%6L
.;<;=>;?@AB;=C8'>?F,:;,53&F$:,E%3&$E%*,EL
%:%jhH%($%U$*LF?ELA(
;=F%L,=U*E%$6LF?E
(,:%;%($A,$(?A(UD?;E%$6LF?E
-#'#"&)6(-#'"'#6:&6762*(-#'*)!6+3O(-#'.-!'3%*'.!-7"##-!*'
("'"#2-0*'.$+062*'*#'%3(*&4*#'&*'.!-76##5-'*-'0-&:-'("'
]^'*&-#'"%'#*0*'("'*30*
Z,X%:,&'%($%&>,&86E,$>%&.1)Z\3&4(%5$67
/5;,&,5;=>?&%9(,5,:;%&=E&(,F?(;,&>,&=E%&9,5@=$5%&>,&>?=;?(%>?&@=,&;,#,&
9?( & ?AX,;$#? & %9(,,:>,( & ?5 & 5,:;$>?5 & , & 5$*:$H$F%>?5 & >, & =E% & 9(?H,55?(% & >,&
,5F?6%&9MA6$F%&5?A(,&5$;=%BC,5&#$#,:F$%>%5&:?&F?;$>$%:?&>%&,5F?6%&>,5>,&5=%&
,:;(%>% & :? & E%*$5;R($? & >%;%>% & >, & mtooL & Q%(% & ;%:;?3 & % & 95$F?6?*$% & 5PF$?<
D$5;P($F%&F?:5;$;=$=&?&(,H,(,:F$%6&;,P($F?&,&E,;?>?6P*$F?&>,5;,&;(%A%6D?L&_5&
,5;=>?5 & >, & +Y*?;5{$ & .mttv3 & ijjm3 & ijji7 & 5?A(, & %5 & F%;,*?($%5 & 5,:;$>? & ,&
5$*:$H$F%>? & H?(%E & >, & *(%:>, & (,6,#]:F$% & ,E & ;?>? & ? & 9(?F,55? & >% & 9,5@=$5%L&
/55,&,5;=>?3&>,&F=:D?&@=%6$;%;$#?3&;,#,&F?E?&F?6%A?(%>?(%&>%&9,5@=$5%&=E%&
9(?H,55?(% & >, & ,5F?6% & 9MA6$F% & F?E & E%$5 & >, & is & %:?5 & >, & ,N9,($O:F$% & :?&
E%*$5;R($? & F?E & F6%55,5 & >, & %6H%A,;$J%BG?3 & 5?A(, & % & @=%6 & ?5 & 5,:;$>?5 & H?(%E&
%:%6$5%>?5&>,&%F?(>?&F?E&%&E,;?>?6?*$%&>?5&:MF6,?5&>,&5$*:$H$F%BG?&.8*=$%(&
,&_J,66%3&ijjk7L&b?&9(?F,55?&>,&%:W6$5,&>%5&$:H?(E%BC,5&:?#,&:MF6,?5&>,&
5$*:$H$F%BG?&,E,(*$(%E&,&9?55$A$6$;%(%E&?&%F,55?&%?5&5,:;$>?5&,&5$*:$H$F%>?5&
>%&9(?H,55?(%L&[,:;(,&?5&:MF6,?5&,:F?:;(%>?5&?&@=,&>,5;%F%E?5&9%(%&,5;,&
%(;$*? & R & `85 & E=>%:B%5 & >% & 9(?H$55G? & >,5>, & mtoo & , & 5,=5 & %59,F;?5&
F?:;$;=;$#?5a3&@=,&(,#,6%&%&>$H$F=6>%>,&>,&?&9(?H,55?(&$:H,($(&5?A(,&?&@=,&,(%&
`A?Ea & :? & 9%55%>? & , & ? & @=, & R & `A?Ea & D?X,3 & >,#$>? & % & F?:>$BC,5 & >,&
9(,F%($J%BG? & >% & ,5F?6% & 9MA6$F% & , & >? & ;(%A%6D? & >?F,:;,L & b?55?5 & 5,:;$>?5 & ,&
5$*:$H$F%>?5&:,E&5,E9(,&5G?&F?:D,F$>?5&9?(&:P5&?=&H%F$6E,:;,&%F,55%>?53&
,E&*,(%6&5G?&F?:5;(=BC,5&F?E96,N%5&@=,&,N$5;,E&>,:;(?&>,&=E&E?#$E,:;?&
D$5;P($F?<F=6;=(%6&@=,&$:;,*(%&EM6;$96%5&>,;,(E$:%BC,5L
.;<;=>;?@AB;=C8&F?:>$BG?&>,&;(%A%6D?3&9(?H,55?(3&,5F?6%&9MA6$F%3&5,:;$>?53&
5$*:$H$F%>?5L
(,X%:,z%6E,$>%UD?;E%$6LF?E
#"!'.!-7"##-!V*'&*'[6\%-+606[26\(*("8')!*+*01-J'2-&(645-'"'
6("&)6(*("'(-2"&)"'"%'2-&)*:"%'[%:V+!*#60\
y6$>%&8:*R6$F%&86#,5&!,%6&.)1b/V&,&1)'23&4(%5$67&
e:;,(,55%>?5&:?&,5;=>?&>%&(,6%BG?&,:;(,&5=X,$;?5&5?F$?F=6;=(%$5&9(?H,55?(,5&,&
*(%:>,5 & F$>%>,5 & , & A%6$J%>?5 & 9,6%5 & >$5F=55C,5 & >% & 1b/KV_ & .ijjs73 & K%:;?5&
.mtvg3 & mtvv3 & ijjo73 & S,$N,$(% & .mttv73 & +$,$(% & .ijjg3 & ijjo73 & ,:;(, & ?=;(?53&
$:;,:;%E?5&$:#,5;$*%(&?5&>,56?F%E,:;?5&>,&9(?H,55?(,5&9%(%&$(&,0?=&#?6;%(&>%5&
,5F?6%5&,E&@=,&6,F$?:%EL&V?:5$>,(%:>?&E=>%:B%5&?F?(($>%5&,E&E%(B?0ijjt&
:% & 6,*$56%BG? & @=, & (,*=6% & ? & %=N"6$?<;(%:59?(;, & >?5 & 5,(#$>?(,5 & 9MA6$F?5&
E=:$F$9%$5 & >, & V?:;%*,E & .Z,*$G? & ',;(?9?6$;%:% & >, & 4,6? & I?($J?:;,3 & '$:%5&
2,(%$53&4(%5$673&,N96?(%E?5 &@=%$5&%5&9?55"#,$5&9%(;$F=6%($>%>,53&$E96$F%BC,5&,&
>,5>?A(%E,:;?5&@=,&;%$5&E?>$H$F%BC,5&%55=E$(%E&:%&9(?>=BG?&>?&;(%A%6D?3&
>%&F?:>$BG? &,&>%&$>,:;$>%>,&>?F,:;,L&Q%(% &;%:;?3 &(,%6$J%E?5 &6,#%:;%E,:;?&
A$A6$?*(WH$F?T&(%5;(,%E,:;?0,5;=>?&>%&6,*$56%BG?&b%F$?:%63&/5;%>=%6&,&'=:$F$9%6&
F?:F,(:,:;, & %? & ;,E%T & ?A5,(#%BG? & 9%(;$F$9%:;, & ,E & (,=:$C,50,#,:;?5&
.H,#,(,$(?0ijjt&%&E%(B?0ijmj7&,&9%(;$F$9%BG?&,E&=E &,<*(?=9& >,&9(?H,55?(,5&
>? & E=:$F"9$?L & 8 & 9(?A6,EW;$F%3 & %? & %55=E$( & F?:;?(:?5 & 9%(;$F=6%(,5 & :% & #$>%&
>?F,:;,3 & H,J & F?E & @=, & ?5 & 9(?H,55?(,5 & $:;,((?*%55,E & 5=%5 & ,5F?6D%53 & 5=%&
H?(E%BG?3&5=%&F%((,$(%3&5=%5&F?:>$BC,5&>,&;(%A%6D?&,&%;R&E,5E?&?&`H=;=(?&>%&
9(?H$55G?aL & 85 & E?>$H$F%BC,5 & 6,*%$5 & 6,#%(%E & %? & %9(?H=:>%E,:;? & >%&
`F?:5;%;%BG?&>,&9(,F%($J%BG?a&,&>,&=E&`5,:;$E,:;?&>,&>,5#%6?($J%BG?a&9?(&
9%(;, & >? & 9(?H,55?(%>?3 & A%6$J%:>? & % & .(,7F?:5;(=BG? & >, & 5=%5 & $>,:;$>%>,5L & _&
,5;=>?&%9?:;%&:?#%5&E%:,$(%5&>,&$:;,((?*%(&%5&F?:>$BC,5&>,&#$>%&,&;(%A%6D?&
>?F,:;,53&,59,F$%6E,:;,&:?5&,59%B?5<;,E9?5&>,&*(%:>,5&F$>%>,5L
.;<;=>;?@AB;=Cc&2(%:>,5&F$>%>,5L&'?A$6$>%>,0$E?A$6$>%>,&=(A%:%L&S(%A%6D?3&
F?:>$BG?&,&$>,:;$>%>,&>?F,:;,L
%6$>%E%$6U*E%$6LF?E
"0')!*+*,-'(-2"&)"'"&'0*')!*%*'*(%6&6#)!*)6G*K
K?:$%&'%(;D%&V%5;(,XP:&'%;%&.1b8'3&'RN$F?7
Z%H%,6&/59$:?5%&'?5@=,>%&.1:$#,(5$>%>&>,&&2=%:%X=%;?3&'RN$F?7
/: & 5= & %HW: & 9?( & ?9;$E$J%( & 6?5 & (,F=(5?5 & 9%(% & `,6,#%( & 6% & F%6$>%> & >, & 6%&
,>=F%F$P:a<@=, & 5%;$5H%*% & 6%5 & :,F,5$>%>,5 & >,6 & F%9$;%6< & 6% & ,5F=,6% & >,XP&
,5F%9%( & 6% & 9,>%*?*"% & 9%(% & %A($( & 6%5 & 9=,(;%5 & % & 6% & %>E$:$5;(%F$P:L & !?5&
(,5=6;%>?5&,:&6%&,5F=,6%&9MA6$F%&D%:&5$>?&,5*($E$>?5&9?(&6%&;,F:?F(%F$%&9%(%&
(,>=F$(&,6&*%5;?&,>=F%;$#?&.,NF,9;?&,:&,#%6=%F$P:73&$:;,:5$H$F%(&,6&F?:;(?6&>,6&
;(%A%X?&>?F,:;,&Y&%(*=E,:;%(&@=,&6?*(P&6%&,H$F$,:F$%L&/6&(,F=((,:;,&>$5F=(5?&
?H$F$%6&>,X%&F%,(&;?>%&6%&(,59?:5%A$6$>%>&>,&6%&,>=F%F$P:&,:&,6&9(?H,5?(3&Y&%6&
:?&F?:5$>,(%(&6%&>$#,(5$>%>&Y&,6&>,5E%:;,6%E$,:;?&>,&6%5&,5F=,6%5&9MA6$F%5&<&
9%(%&6$A,(%(&%6&/5;%>?&>,&5=&(,59?:5%A$6$>%>&5?F$%6<&36$E$;%&,6&>,5%((?66?&>,6&
F?:?F$E$,:;? & >, & 6?5 & 5,F;?(,5 & EW5 & :,F,5$;%>?53 & ,5 & >,F$(3 & H%#?(,F, & 6%&
,NF6=5$P:&5?F$%6&Y&6$E$;%&,6&,X,(F$F$?&>,&6%&F$=>%>%:"%L&4=5F%(&6?5&D$6?5&5?A(,&
6?5&F=%6,5&5,&,5;(=F;=(%&,6&;(%A%X?&>?F,:;,&%F;=%6&Y&5=&F?:H(?:;%F$P:&F?:&6%&
(,%6$>%>3 & 9=,>, & 5,( & =: & 9%5? & 9%(% & %9(?#,FD%( & 6% & %=;?:?E"% & (,6%;$#% & Y&
F?:5;(=$(&=:&9(?Y,F;?&%6;,(:%;$#?L
.;<;D>;?@A<;=C8&,5F=,6%&9=A6$F%3&;(%A%X?&>?F,:;,3&%>E$:$5;(%F$P:
5?:$E%(;UD?;E%$6LF?E
!".!"#"&)*49"#'#-26*6#''"'*'"(32*45-'_)&62-@!*26*0'&-'
"#.*4-'"#2-0*!'+!*#60"6!'%(Y&)(%:F$5F%&>?&V%(,:?&.1beK8bS_K3&4(%5$67&
'%($%&>,&)W;$E%&4%(A?5%&8A>%66%&.1beK8bS_K3&4(%5$67
/5;,&%(;$*?&%9(,5,:;%&(,5=6;%>?5&>,&,5;=>?5&%&(,59,$;?&>%&$:;,(%BG?&R;:$F?<
(%F$%6 & :% & ,5F?6%3 & ^ & 6=J & >% & ;,?($% & >% & (,9(,5,:;%BG? & 5?F$%63 & (,55%6;%:>? & %&
,N$5;O:F$% & >, & =E% & ;,:5G? & ,:;(, & $>,:;$>%>, & F=6;=(%6 & , & 5=AX,;$#$>%>, & >,&
9(?H,55?(,5 & , & ? & >$5F=(5? & >% & ,5F?6% & % & (,59,$;? & >% & >$5F($E$:%BG? & (%F$%63&
#$:F=6%>%&^&9?9=6%BG?&:,*(%&A(%5$6,$(%L& )?F%6$J%&?&F?:H6$;?&,:;(,&(,%6$>%>,&
%>#,(5% & , & % & $:;,:BG? & ;(%:5H?(E%>?(% & >% & ,5F?6% & , & ;,E & 9?( & ?AX,;$#?&
%9(?H=:>%(&,5;=>?5&5?A(,&%5&#$#O:F$%5&(%F$%$5&,E&5%6%&>,&%=6%3&#?6;%:>?<5,&
9%(%&F?:D,F,(&%5&(,9(,5,:;%BC,5&5?F$%$5&>,&9(?H,55?(,53&(,#,6%>%5&9?(&E,$?&
>,&,:;(,#$5;%5&,&%96$F%BG?&>,&@=,5;$?:W($?53&%&H$E&>,&F?:D,F,(&?5&9(?F,55?5&
>, & 9,(;,:B% & , & 9%(;$F$9%BG? & 5?F$?F=6;=(%6 & >?5 & 5=X,$;?5 & ,:#?6#$>?5L& _5&
%59,F;?5&;,P($F?5&>%&S,?($%&>%5&Z,9(,5,:;%BC,5&K?F$%$5&.'_KV_+eVe3&mtovT&
ijjmT&ijjo7&,&?&F?:F,$;?&>, &D%A$;=5& .4_1Z[e/13&mttoT&ijjt73&#$:F=6%>?5&
%?5&,5;=>?5&>,&%=;?(,5&@=,&;(%;%E&>?&&,:H(,:;%E,:;?&>?5&9(?H,55?(,5&F?E&
(,6%BG? & ^ & >$#,(5$>%>,3 & >,:;(? & >, & =E% & >$E,:5G? & 9,55?%6 & , & >% & $>,:;$>%>,&
5?F$%6 & .'1b8b283 & ijjiT & 84[8!!83 & ijjv73 & ?(*%:$J%E & , & ,5F6%(,F,E & ?5&
?AX,;$#?5 & >,5;, & ;(%A%6D?L & 8 & %:W6$5, & (,#,6% & =E & .>,57F?E9(?E$55? & >?5&
>?F,:;,5 & ,E & F?EA%;,( & %5 & H?(E%5 & `5=;$5a & >, & >$5F($E$:%BG? & :% & ,5F?6% & 9?(&
>,5F?:D,F$E,:;?&>,&$:H?(E%BC,5&%&(,59,$;?&>?&;,E%&,0?=&9,6%5&$E%*,:5&,&
%;$;=>,5&@=,&%55=E,E&>$%:;,&>,5;,&F?:H6$;?L
.;<;=>;?@AB;=Cc&Z,9(,5,:;%BC,5&5?F$%$53&I%A$;=53&Z,6%BC,5&Z%F$%$5
EF%(,:?U=?6LF?ELA(
EH%A>%66%U=?6LF?ELA(
*0:3%*#'16.F)"#"#'#-+!"'-#'.!-2"##-#'("'.!-(345-'(*#'
!".!"#"&)*49"#'("'.!-7"##-!"#'#-+!"'-')!*+*01-'(-2"&)"
86>%&\=>$;D&86#,5<'%JJ?;;$&.1b/K83&4(%5$67
86*=E%5&D$9P;,5,5&5?A(,&?5&9(?F,55?5&>,&9(?>=BG?&>%5&(,9(,5,:;%BC,5&>,&
9(?H,55?(,5 & 5?A(, & ? & ;(%A%6D? & >?F,:;, & _ & ,5;=>? & %9(,5,:;%>? & :,5;, & %(;$*?&
9%(;$= & >, & =E% & 9,5@=$5% & @=, & $:>$F?= & @=, & % & (,9(,5,:;%BG? & >, & ;(%A%6D?&
>?F,:;, & R & A%5;%:;, & >$5;$:;% & 9%(% & ?5 & 9(?H,55?(,5 & >?5 & >?$5 & 5,*E,:;?5 & >?&
,:5$:? & H=:>%E,:;%6c & ,:@=%:;? & ?5 & >? & 9($E,$(? & (,55%6;%E & % & $>R$% & >,&
>,>$F%BG?3 & ?5 & >? & 5,*=:>? & ,:H%;$J%E & ?5 & ,6,E,:;?5 & >$H$F=6>%>,5 & , & 6=;%L & 8&
9(,5,:;,&9,5@=$5%&A=5F?=&F?E9(,,:>,(&?5&9(?F,55?5&9,6?5&@=%$5&5,&H?(E%E&
, & 5, & E%:;OE & %@=,6,5 & 5,:;$>?5L & )?(%E & (,%6$J%>%5 & st & ,:;(,#$5;%5 & F?E&
9(?H,55?(,5&>,&,5F?6%5&9MA6$F%5&>?&/:5$:?&)=:>%E,:;%6&>%&F$>%>,&>?&Z$?&>,&
\%:,$(?&.hj&>?&9($E,$(?&5,*E,:;?&,&it&>?&5,*=:>?73&H?F%6$J%:>?&;(%X,;P($%5&
9(?H$55$?:%$53&$:5,(BC,5&5?F$%$53&*(=9?5&>,&(,H,(O:F$%3&9(?H,55?(,5&,&%=;?(,5&
@=,&E%(F%(%E&%&H?(E%BG?&,&%5&9(W;$F%5&>?5&9(?H,55?(,5&,:;(,#$5;%>?5L&_5&
(,5=6;%>?5&$:>$F%(%E&@=,&%5&>$H,(,:B%5 &?A5,(#%>%5 &5,&%:F?(%E &:?&%6=:?3&
,E&9%(;$F=6%(3&:%&$>%>,&,&:?&;,E9?&>,&9,(E%:O:F$%&>?&9(?H,55?(&F?E&,6,5L&
'%53&,:@=%:;?&?5&%6=:?5&>?&9($E,$(?&5,*E,:;?&5G?&F($%:B%53&%55?F$%>%5&^&
$:?FO:F$%&3&^&>?F$6$>%>,3&^&H(%*$6$>%>,3&?5&>,&5,*=:>?&XW&5G?&%>?6,5F,:;,53&
%55?F$%>?5&^&(,A,6>$%&,&^&E%(*$:%6$>%>,L&
.;<;=>;? ' AB;=C8& (,9(,5,:;%BC,5 & 5?F$%$5< & ;(%A%6D? & >?F,:;, & < & $>,:;$>%>,&
>?F,:;,L
%6>%E%JJ?;;$U=?6LF?ELA(
)!*,")F!6*'("'&":-26*49"#'#6&(62*6#'("'.!-7"##-!"#
&+,(%&!MF$%&),((,$(%&86#,5&>,&4($;?&.1)'23&4(%5$67
_ & ;(%A%6D? & ;,E & F?E? & ?AX,;$#? & %:%6$5%( & % & (,6%BG? & >? & /5;%>? & F?E & ?5&
E?#$E,:;?5 & >, & 9(?H,55?(,5 & ,E & 5=%5 & E%:$H,5;%BC,5 & >, & F?:H(?:;? & ,&
:,*?F$%BG?&@=,&F%(%F;,($J%E&?5&E?#$E,:;?5&5$:>$F%$5L&b,5;%&9,(59,F;$#%3&?&
E?#$E,:;? & 5$:>$F%6 & %9%(,F, & F?E? & ,$N? & F,:;(%6 & >% & >$5F=55G? & ;,P($F% & >?&
;(%A%6D?L&/5;,&;(%A%6D?&=;$6$J?=&=E%&E,;?>?6?*$%&@=,&%:%6$5?=&%5&9%=;%5&>,&
(,$#$:>$F%BC,5 & , & %5 & 6,*$56%BC,5 & >?5 & 9(?H,55?(,5 & >? & '=:$F"9$? & >, & 4,6?&
I?($J?:;,3&:=E%&%A?(>%*,E&;,P($F%&%A(%:*,:;,&9%(%&&,N96$F%(&%&(,6%BG?&>?&
/5;%>?&F?E&E?#$E,:;?5&5$:>$F%$5&>,&9(?H,55?(,5L&8&6$;,(%;=(%&(,H,(,:;,&%?5&
E?#$E,:;?5&5?F$%$5&,&5$:>$F%$5&;?(:?=&9?55"#,6&F?E9(,,:>,(&%5&:,*?F$%BC,5&
,:;(, & E?#$E,:;?5 & >?5 & 9(?H,55?(,5 & , & %5 & 9?6";$F%5 & >? & /5;%>?L & 8 & 9,5@=$5%&
F?:5;%;?=&%&$:H6,NG?&>?5&:?#?5&E?#$E,:;?5&5?F$%$5&,&5$:>$F%$53&:%&>RF%>%&
>, & vj3 & , & 5=% & (,9,(F=55G? & :?5 & E?#$E,:;?5 & 5$:>$F%$5 & >, & >?F,:;,53&
$:F,:;$#%:>? & % & 9%(;$F$9%BG? & , & % & (%>$F%6$J%BG? & >%5 & (,$#$:>$F%BC,5 & ,&
:,*?F$%BC,5 & 5$:>$F%$5 & >,5;, & 9,("?>?L & 8? & %:%6$5%( & ?5 & 9,("?>?5 & (,F,:;,5 & >?&
E?#$E,:;? & 5$:>$F%6 & >?F,:;, & F?:5;%;?=<5, & @=, & ,5;W & ,E & %:>%E,:;? & =E%&
F?:F,9BG?&>,&*,(,:F$%E,:;?&,E9(,5%($%6&,&>,&$:;,:5$H$F%BG?&>?&9(?F,55?&
>, & ;(%A%6D? & , & >, & F?:;(?6, & >% & *,5;G? & ,5F?6%( & :? & E=:$F"9$?L & /5;% & :?#%&
F?:F,9BG? & , & 9(W;$F% & ;,E & & E=>%>? & %5 & :,*?F$%BC,5 & 5$:>$F%$5 & , & %5&
F%(%F;,("5;$F%5&%:;,($?(,5&>?5&E?#$E,:;?5&>?F,:;,5L
.;<;=>;?@AB;=C?8&S(%A%6D?&>?F,:;,T&5$:>$F%6$5E?&>?F,:;,T&5%6W($?&>?F,:;,L
#,(%6=F$%A($;?U$*LF?ELA(
"(32*45-'.!-76##6-&*0'#-+'3%*'."!#."2)6G*'.-06)_2&62*
\%:,&Z?5,&K$6#%&K?=J%&./QK\+0)e_VZ1x0)eV0)/1V01b/K83&4(%5$67
/5;,&%(;$*?&9(,;,:>,&F?:;($A=$(&9%(%&%9(?H=:>%(&%5&(,H6,NC,5&5?A(,&?&E?>,6?&
>, & ,>=F%BG? & , & 9%>(G? & >, & F?E9?(;%E,:;? & ,N$*$>?5 & >?5 & 9(?H$55$?:%$5&
%;=%6E,:;,3 & 9(?F=(%:>? & ,5;%A,6,F,( & =E% & (,6%BG? & ,:;(, & %5 & ,N$*O:F$%5 & >?&
E=:>?&>?&;(%A%6D?3&:=E%&9,(59,F;$#%&:,?6$A,(%63&,N;(,E%E,:;,&F%9$;%6$5;%3&
, & % & 5%M>, & >? & ;(%A%6D%>?(3 & E%$5 & ,59,F$H$F%E,:;, & >? & 9(?H,55?(3 & H?F? & >,&
9,5@=$5% & :? & ',5;(%>? & ,E & />=F%BG? & Q(?H$55$?:%6 & ,E & K%M>,3 & ,E & F=(5? & :%&
/5F?6% & Q?6$;RF:$F% & >, & K%M>, & \?%@=$E & +,:]:F$?3 & 6?F%6$J%>% & :% & )=:>%BG?&
_5|%6>?&V(=J&.)e_VZ1x0Z\7
.;<;=>;?@AB;=C8& ,>=F%BG? & 9(?H$55$?:%63 & E=:>? & >? & ;(%A%6D?3 & 5%M>, & >?&
;(%A%6D%>?(L
X%:,(?5,U$*LF?ELA(
)!*+*01-'(-2"&)"J'20*##"'"'6("-0-:6*
'%($%&e:O5&>?&Z,*?&'?:;,$(?&4?EH$E&.1))3&4(%5$67
_&;,E%&F,:;(%6&>,5;,&,5;=>?&R&?&;(%A%6D?&>?F,:;,&:%&,5F?6%&9MA6$F%&AW5$F%&
>,5;$:%>%&^&E%$?($%&>?5&A(%5$6,$(?5L&K$;=%:>?<5,&:?&F?:X=:;?&>%5&9,5@=$5%5&
5?A(, & % & H?(E%BG? & D=E%:% & :? & F%E9? & S(%A%6D? & , & />=F%BG?3 & ? & ,5;=>? & H?$&
?(*%:$J%>?&,E&;(O5&5,BC,5L&b%&9($E,$(%3&S(%A%6D?&,&/>=F%BG?&:?&E?>?&>,&
9(?>=BG? & F%9$;%6$5;%3 & ,:H%;$J%E?5 & % & %E96$%BG?3 & ,E & :"#,$5 & , & E?>%6$>%>,5&
>$#,(5%53&>%&5=A5=:BG? &(,%63&F?E? &H?(E%&>?E$:%:;,&,&>,5%(;$F=6%>?(%&>,&
;?>%5&%5&,5H,(%5&>%&#$>%&5?F$%6L&b%&5,*=:>%3&_&/5;%>?&,>=F%>?(&,&?&5,:;$>?&
>%5 & (,H?(E%5 & ,E9(,,:>$>%5 & % & 9%(;$( & >?5 & %:?5 & mttj3 & >,5;%F%E?5 & H=:BC,5&
%55=E$>%5 & 9,6? & /5;%>? & A(%5$6,$(? & ,E & (,6%BG? & ^ & ,5F?6% & AW5$F%3 & 5=X,$;?5&
F?6,;$#?5&,:#?6#$>?5&,&F?:F,9BC,5&>,&E=:>?&,&>,&,>=F%BG?&D,*,Ep:$F%5L&
b%5 & F?:5$>,(%BC,5 & H$:%$53 & 5,E9(, & %A,(;%5 & %? & >,A%;,3 & >$5F=;$E?5 & ?&
,:H(%@=,F$E,:;? & >? & ;(%A%6D%>?( & >?F,:;, & , & % & 9?;,:F$%6$>%>,3 & :%5 & %;=%$5&
F?:>$BC,5 & >, & E,(F%:;$6$J%BG? & >% & #$>% & 5?F$%63 & >? & ;(%A%6D? & >, & ,:5$:%( & :%&
,5F?6%&9MA6$F%L&
.;<;=>;?@AB;=C8&S(%A%6D?</>=F%BG?3&;(%A%6D?&>?F,:;,3&,5F?6%&AW5$F%
E$AU*6?A?LF?E
.-0O)62*#'"(32*)6G*#'("'0-#'`a'b'2-&(626-&"#'0*+-!*0"#K'3&'
*2"!2*%6"&)-'*'0*#'2-&2".26-&"#'(-2"&)"#
e(,:,&'%($:%&'%F,(%&.1bZ3&8(*,:;$:%7&
/6&9(,5,:;,&;(%A%X?&5,&$:5F($A,&,:&=:%&$:#,5;$*%F$P:&>?F;?(%6&@=,&5,&66,#%&%&
F%A?&>,5>,&,6&%l?&ijjk&Y&5,&;$;=6%&`Q?6";$F%5&,>=F%;$#%5&Y&;(%:5H?(E%F$?:,5&
,:&,6&;(%A%X?&Y&H?(E%F$P:&>?F,:;,L&1:&%:W6$5$5&>,&6%5&F?:F,9F$?:,5&>?F,:;,5&
%F,(F%&>,6&;(%A%X?&Y&>,&6?5&:=,#?5&(,@=,($E$,:;?5&>,&H?(E%F$P:La
1:% & >, & 6%5 & >$E,:5$?:,5 & >,6 & 9(?F,5? & >, & $:#,5;$*%F$P: & (,H$,(, & % & 6%5&
F?:F,9F$?:,5 & >?F,:;,5 & %F,(F% & >, & 6%5 & 9?6";$F%5 & 9MA6$F%5 & ,>=F%;$#%5 & >, & 6%&
>RF%>% & >,6 & }tjL & /5;% & 9(,5,:;%F$P: & >% & F=,:;% & >, & 6% & E$5E%3 & % & ;(%#R5 & >,6&
;(%;%E$,:;? & >, & >?F=E,:;?5 & ?H$F$%6,5 & F?: & 6%5 & >?F,:;,5 & 5=X,;?5 & >, & 6%&
$:#,5;$*%F$P:L
V?:5$>,(%E?5 & @=, & 6% & 5,6,FF$P: & >, & >?F=E,:;?5 & ?H$F$%6,5 & @=, & D,E?5&
,6%A?(%>?&,5&=:%&%9(?N$E%F$P:&%&6?5&?AX,;$#?5&Y&96%:,%E$,:;?5&>,6&*?A$,(:?&
>,&6%&R9?F%&5?A(,&,6&(=EA?&>,&6%&,>=F%F$P:3&>,&6%5&$:5;$;=F$?:,5&Y&>,&6?5&
%F;?(,5&,>=F%;$#?5L&Q?:,(6?5&,:&;,:5$P:&F?:&6%5&>?F,:;,53&5=9?:,E?53&,5&=:&
E?>? & >, & F?:;,N;=%6$J%( & 5?F$%6 & Y & 9?6";$F%E,:;, & ,6 & ,:;(%E%>? & >,&
F?:F,9F$?:,5&>?F,:;,5&%F,(F% &>,&6?5&:=,#?5&(,@=,($E$,:;?5 &>, &;(%A%X?&Y&
H?(E%F$P:L
.;<;D>;? ' A<;=C?c & Q?6";$F%5 & />=F%;$#%53 & S(%A%X? & [?F,:;,3 & V?:F,9F$?:,5&
[?F,:;,5L
$(,:,E%F,(%U*E%$6LF?E
-'76&*&26*%"&)-'(*'"(32*45-'+I#62*'"'*'!"%3&"!*45-'
(-2"&)"
+,(%&!MF$%&),((,$(%&86#,5&>,&4($;?&.1/'23&4(%5$67
_&;(%A%6D?&%:%6$5%&%&;(%X,;P($%&>,&:,*?F$%BC,5&,:;(,&?&E?#$E,:;?&>?F,:;,&,&
% & %>E$:$5;(%BG? & E=:$F$9%6 & :% & H?(E=6%BG? & >, & 6,*$56%BC,5 & (,*=6%>?(%5 & >?&
;(%A%6D?3&>%&F%((,$(%&,&>%&(,E=:,(%BG?&>?F,:;,L&[$5F=;,<5,&?&F?(9?(%;$#5E?&
, & 5$:>$F%6$5E?L & _ & ;(%A%6D? & R & 9%(;, & >, & =E% & 9,5@=$5% & :%F$?:%6 & 5?A(,&
(,E=:,(%BG? & >?5 & 9(?H,55?(,53 & F?:H6$;?53 & $E9%55,5 & , & %#%:B?5L & )?(%E&
$:#,5;$*%>%5 & %5 & 9%=;%5 & (,$#$:>$F%;P($%5 & , & %5 & 6,$5 & >? & E=:$F"9$? & >, & 4,6?&
I?($J?:;,L & V?:F6=$<5, & @=, & ? & E?#$E,:;? & >?F,:;, & F?:5,*=$= & *%:D?5&
,N9(,55$#?5&%?&5,(&(,F?:D,F$>?&F?E?&%*,:;,&$E9?(;%:;,&:%5&:,*?F$%BC,5L&
.;<;=>;? ' AB;=C?8& S(%A%6D? & >?F,:;,T & (,E=:,(%BG? & >?F,:;,T & (,*=6%BG?&
,5;%;%6
#,(%6=F$%A($;?U$*LF?ELA(
G*0-!6E*45-'"'.!-76##6-&*06E*45-'("'.!-7"##-!"#J'
2*!!"6!*'.!-76##6-&*0'(-2"&)"J'L3*06762*45-'(-2"&)"'
"'7-!%*45-'("'.!-7"##-!"#8')"%I)62*#'("')"#"#'
.!-(3E6(*#'&-'."!O-(-'("'/``c'*']aac
'
/6,:%&'%($%&4$66$*&',66?&.1)Z2K3&4(%5$67
b,5;,&%(;$*?&9(,;,:>?&,N9?(&?&(,5=6;%>?&>%&9,5@=$5%&(,%6$J%>%&:?&4%:F?&>,&
S,5,5&>%&V%9,53&:?&5,:;$>?&>,&(,%6$J%(&=E&E%9,%E,:;?&>,&9(?>=BC,5&,E&
;(O5&=:$#,(5$>%>,5&>,&,:5$:?&5=9,($?(&:?&4(%5$6c&1:$#,(5$>%>,&),>,(%6&>?&Z$?&
2(%:>,&>?&K=6&.1)Z2K73&1:$#,(5$>%>,&/5;%>=%6&>,&V%E9$:%5&.1beV8'Q7 &,&
1:$#,(5$>%>,&>,&KG?&Q%=6?&.1KQ73&:?&9,("?>?&>,&mttk&%&ijjk3&(,6%F$?:%>%5&^&
9(?H$55G? & >?F,:;, & , & 5,=5 & >,5>?A(%E,:;?5L & /55,5 & >,5>?A(%E,:;?5 & >$J,E&
(,59,$;? & ^5 & 5,*=$:;,5 & F%;,*?($%5 & >, & 9,5@=$5%c & #%6?($J%BG? & ,&
9(?H$55$?:%6$J%BG?&>,&9(?H,55?(,53&F%((,$(%&9(?H$55$?:%6&>?F,:;,3&@=%6$H$F%BG?&
,&H?(E%BG?&>,&9(?H,55?(,5L
.;<;=>;?@AB;=C8 '#%6?($J%BG? &, &9(?H$55$?:%6$J%BG? &>, &9(?H,55?(,53 &F%((,$(%&
9(?H$55$?:%6&>?F,:;,3&H?(E%BG?&>,&9(?H,55?(,5L&
9(?H,6,:%U*E%$6LF?E
0-#'.!-7"#6-&*0"#'("'0*'"(32*26d&'."!$&*
\?5R&86H(,>?&'%:5$66%&2%(%Y%(
K$&@=,(,E?5&D%66%(&,#$>,:F$%5&@=,&E=,5;(,:&%6&Q,(M&F?E?&=:%&5?F$,>%>&>,6&
F?:?F$E$,:;?3 & A=5@=,E?5 & % & 5=5 & *,5;?(,5 & Y & F?: & ;?>% & 5,*=($>%>&
$>,:;$H$F%(,E?5&%&6?5&9(?H,5$?:%6,5&>,&6%&,>=F%F$P:L
Q?( & 5= & :%;=(%6,J%3 & 6?5 & >?F,:;,5 & ;,:,E?5 & F?E? & =:% & H=:F$P: & F?:5;%:;, & 6%&
AM5@=,>% & >, & F?:?F$E$,:;?53 & 6? & (,%6$J%(?: & 6?5 & 8E%=;%53 & 6? & (,%6$J%E?5 & 6?5&
9(?H,5$?:%6,5&>,&6%&,>=F%F$P:&Y&6?&(,%6$J%(%:&%@=,66%5&9,(5?:%5&@=,&A=5@=,:&
F?:?F$E$,:;?5&:=,#?5L
/6&9(?F,5?&,5&F?E96,X?3&,6&*(%>?&>,&(,59?:5%A$6$>%>&,5;%&,:&H?(E%(&=:&5,(&
D=E%:?&@=,&,5&6%&A%5, &>, &6%&5?F$,>%> &9?(&6?&;%:;?&>,;,(E$:%&,6&;$9?&>,&
5?F$,>%>L
!%5 & F?:>$F$?:,5 & >,6 & ;(%A%X? & >?F,:;, & ,5 & 6% & #%($%A6, & $:>,9,:>$,:;,3 & 6?5&
$:>$F%>?(,5&5?:&5=&(,6%F$P:&F?:&,6&/5;%>?&Y&5=5&(,9(,5,:;%:;,5&>,&;=(:?3&5=&
,5;$6?&>,&6$>,(%J*?3&5=&9?5$F$P:&5?F$?<,F?:PE$F%&9?6";$F%&F=6;=(%6&Y&,6&>?E$:$?&
>,&6%5&S$F~5L
!?&,5,:F$%6&>,&6?5&>?F,:;,53&6%&#%($%A6,&>,9,:>$,:;,&;$,:,&=:&$:>$F%>?(3&,6&
9(?F,5?&>,&,:5,l%:J%<%9(,:>$J%X,&>,&F%>%&=:?&>,&5=5&>$5F,:;,5L
.;<;D>;?'A<;=C8&/>=F%F$•:&Q,(M%:%3&Q(?H,5$?:%6,5&>,&!%&,>=F%F$•:3&S$F}5
!"#$%&'(#)**'++,-".&')*/0"&
","']
)!*+*01-'(-2"&)"J'!":30*%"&)*49"#'"'!":30*49"#8'
*.!-H6%*49"#'e':!*%I)62*'"#2-0*!'&-'"&#6&-'
73&(*%"&)*0K
86>%&\=:@=,$(%&'%($:&.Q1V<KQ3&4(%5$67
'%($,;%&2?=#,%&>,&_6$#,$(%&Q,::%&.1be)/KQ3&4(%5$67
_&?AX,;?&9($#$6,*$%>?&>,&=E%&>%5&H%F,;%5&>,&9,5@=$5%5&@=,&(,%6$J%E?5&R&%&
H=:BG? & >?F,:;,3 & %@=$ & H?F%6$J%>% & 5?A & % & 9,(59,F;$#% & >% & (,*=6%E,:;%BG? & ,&
(,*=6%BG?3 & >, & E?>? & % & F?E9(,,:>,(3 & ,:;(, & ?=;(?5 & H?F?53 & %5 & F?:>$BC,5 & >,&
;(%A%6D?&>?5&9(?H,55?(,5L&8&@=,5;G?&?($,:;%>?(%&>,5;,&H?F?&#,E&5,:>?&%&>,&
E%9,%(&%5&(,*(%5&>,&H=:F$?:%E,:;?&>%&,5F?6%&:?&@=,&;%:*,&W5&,N$*O:F$%5&
?(*%:$J%;$#%5 & $E9?5;%5 & %?5 & >?F,:;,5 & :? & 5,= & >$% & % & >$% & >, & ;(%A%6D?L & KG?&
%9(,5,:;%>?5&?5&(,H,(,:F$%$5&;,P($F?5&9(?9?5;?&9?(&'%N&€,A,(&5?A(,&?&;$9?&
$>,%6&A=(?F(%F$%&,&?&E?>,6?&%:W(@=$F?&>$#=6*%>?&:?&4(%5$6&9?(&!$F":$?&!$E%&
9%(% & %:W6$5, & >, & ;%$5 & (,*(%5 & @=, & >,6$:,$%E & , & $:;,(H,(,E & 5?A(, & ? & ;(%A%6D?&
>?F,:;,&;%:;?&>?&9?:;?&>,&#$5;%&6,*%6&@=%:;?&>?&9?:;?&>,&#$5;%&>?&@=,&R&
F($%>?&:?&F?;$>$%:?L&KG?&%9(,5,:;%>?5&%6*=:5&>%>?5&,E9"($F?5&>,&9,5@=$5%&
@=,&9,(E$;,E&%9(?N$E%BC,5&^&*(%EW;$F%&,5F?6%(&:?&@=,&;%:*,&%&%59,F;?5&
@=,&(,*,E&%&#$>%&>?5&9(?H,55?(,5&,&%5&F?:>$BC,5&>,&5,=&;(%A%6D?&:?&,:5$:?&
H=:>%E,:;%6L
.;<;=>;?'AB;=Cc&,:5$:?&H=:>%E,:;%63&;(%A%6D?&>?F,:;,3&(,*=6%E,:;%BG?&,&
(,*=6%BG?L
%6>%E%($:U9=F59LA(
E%($,;%L9,::%UY%D??LF?ELA(
.0*&-'("'2*!!"6!*'(-#'(-2"&)"#'("'%6&*#':"!*6#8'21-L3"'("'
:"#)5-'"'230)3!*'(-'("#"%."&1-'&-':-G"!&-'*_26-'&"G"K
&!MF$%&/6,:%&Q,(,$(%&)(%:F?&4($;?.)8V/[<1)13&4(%5$67
&Z?A5?:&)(%:B%&.)8V/[<1)13&4(%5$67
_ & 9(,5,:;, & %(;$*? & ?($*$:%<5, & >, & Q,5@=$5% & >, & ',5;(%>?3 & (,F,:;,E,:;,&
F?:F6=">%&:?&QQ2/<1)13&$:;$;=6%>%&`8&,>=F%BG?&:%&(,,5;(=;=(%BG?&9(?>=;$#%&
>? & F%9$;%6c & =E & ,5;=>? & 5?A(, & %5 & (,H?(E%5 & ,>=F%;$#%5 & , & 5,= & $E9%F;? & :?&
;(%A%6D?&>?F,:;,&:%&Z,>,&/5;%>=%6&>,&/:5$:?&>,&'$:%5&2,(%$5&.ijjh<ijjv7aL&
8 & %A?(>%*,E & %@=$ & 5, & F?:F,:;(%3 & F?:;=>?3 & :% & %:W6$5, & >%5 & %6;,(%BC,5&
F?:5=A5;%:F$%>%5&:?&Q6%:?&>,&V%((,$(%&>?5&5,(#$>?(,5&9MA6$F?5&E$:,$(?5&-&
>,:;(,&?5&@=%$5&,5;G?&$:F6=">?53&,#$>,:;,E,:;,3&?5&;(%A%6D%>?(,5&>?F,:;,5&-&
% & 9%(;$( & >% & (,,5;(=;=(%BG? & %>E$:$5;(%;$#% & $E96,E,:;%>% & :? & /5;%>? & 9,6?&
*?#,(:?&8RF$?&b,#,5&5?A&%&>,:?E$:%BG?&>,&VD?@=,&>,&2,5;G?L&[,&E%:,$(%&
*,(%63&F?:5;%;%<5,&%&O:H%5,&:%&8#%6$%BG?&>?&[,5,E9,:D?&e:>$#$>=%63&>,:;(?&
>,&=E%&6P*$F%&@=,&9(,#O&*%:D?5&>,&9(?>=;$#$>%>,&-&%(*=E,:;%:>?&#%6?($J%(&
? & 5,(#$>?( & 9?( & ER($;? & -3 & E%53 & %? & E,5E? & ;,E9?3 & X=5;$H$F% & %&
>,5(,*=6%E,:;%BG?&>,&>$(,$;?5&,&#%:;%*,:53&F?E?&?5&%>$F$?:%$5&9?(&;,E9?&
>,&5,(#$B?3&5=A5;$;=">?5&9,6%&6P*$F%&%&>%&9,(H?(E%;$#$>%>,L&b,55,&5,:;$>?3&,&
%?&5=A?(>$:%(&%5&9?6";$F%5&5?F$%$5&^5&@=,5;C,5&E%F(?,F?:pE$F%53&?&,5H?(B?&
>? & *?#,(:? & b,#,5 & 9%(,F, & 5, & $:5,($( & :% & ;,:;%;$#% & >, & %X=5;%( & ? & /5;%>? & >,&
'$:%5&%?&%;=%6&,5;W*$?&>,&>,5,:#?6#$E,:;?&>?&F%9$;%6$5E?L&
.;<;=>;?@AB;=Cc&Z,*=6%BC,5&-&S(%A%6D?&[?F,:;,&-&VD?@=,&>,&2,5;G?L
6=F$%z,6,:%U;,((%LF?ELA(
(6H(%:F%U=H=LA(&
0*'#6)3*26F&'("0'2*)"(!I)62-'."!$*&-J'("'0*'3&6G"!#6(*('
.$+062*J'"&'0*'.!6%"!*'(_2*(*'("0'#6:0-'HH6K
[%:;,&'%(;":&Q%$#%&2?YA=(=&-&1b'K'L
/: & ,6 & 9(,5,:;, & ;(%A%X? & 5, & D%(W & =:% & (,#$5$P: & Y & 5":;,5$5 & >, & 6?5 & 9($:F$9%6,5&
%59,F;?5&5?A(,&,6&;(%A%X?&>?F,:;,3&@=,&,5&(,*=6%>?&,:&6,Y,53&(,*6%E,:;?5&Y&
?;(?5&>$59?5$;$#?5&6,*%6,5L
!%&:,F,5$>%>&>, &%A?(>%( &,5;, &;,E%3&F?((,59?:>,3 &,:;(, &?;(%5 &F?5%53 &%&6%&
9?6RE$F% & @=, & 5, & >$? & ,: & ,6 & Q,(M & 5?A(, & ,6 & `9(?F,5? & >, & D?E?6?*%F$P:&
>?F,:;,a3&@=,&H=,&>$59=,5;?&E,>$%:;,&6%&6,Y&b•&itiih3&9,(?&@=,&%&6%&H,FD%3&
% & 9,5%( & @=, & 6?5 & H=,(?5 & X=($5>$FF$?:%6,5 & 6, & D%: & >%>? & 6% & (%JP: & % & 6?5&
F%;,>(W;$F?5&(,59,F;?&>,&6%&:,F,5$>%>&>,&(,%X=5;%(&6%5&(,E=:,(%F$?:,5&@=,&
9,(F$A,:3&,6&Q?>,(&/X,F=;$#?&D%&D,FD?&F%5?&?E$5?L
/6 & ?AX,;$#? & @=, & ;$,:, & ,5;, & ,5;=>$? & ,5 & @=, & ,5;=>$%:;,53 & 9(?H,5$?:%6,5 & Y & 6%&
F?E=:$>%> & ,: & *,:,(%6 & ;?E,: & F?:?F$E$,:;? & >, & 6% & (,%6$>%> & @=, & #$#, & ,6&
F%;,>(W;$F? & Q,(M%:?3 & F=W6,5 & 5?: & 6%5 & 9($:F$9%6,5 & :?(E%5 & @=, & (,*=6%: & 5=&
;(%A%X?&Y&D%F,(&=:&F?:;(%5;,&F?:&6%&(,%6$>%>3&9(?9$%E,:;,3&5$&6?&@=,&>$F,&6%&
:?(E%&,5&H$:%6E,:;,&(,59,;%>?&,:&:=,5;(?&9%"5L&[,&,5;%&E%:,(%3&@=,(,E?5&
D%F,(&=:&%9?(;,&5?A(,&,6&;,E%&>,&6%&(,*=6%F$P:&>,&6%&F%((,(%&>?F,:;,L
.;<;D>;?'A<;=C?8&V%;,>(W;$F?53&!,*$56%F$P:3&Q,(M
9%$#%>%:;,UD?;E%$6LF?E
*#'.-0O)62*#'"(32*26F&*6#'"'*'G*0-!6E*45-'(*'.!-76##5-'
(-2"&)"8'3%*'!"70"H5-'*'.*!)6!'(*'0":6#0*45-'"'("'
(-23%"&)-#'&*26-&*6#'"'6&)"!&*26-&*6#K
'%($%&>%&V?:5?6%BG?&Z?FD%&./'VZS01/'23&4(%5$67
b,5;, & %(;$*? & %:%6$5%E?5 & % & @=,5;G? & >% & (,E=:,(%BG?3 & >% & F%((,$(%3 & >%5&
F?:>$BC,5 & >, & ;(%A%6D? & , & %5 & 9?6";$F%5 & >, & .>,57 & #%6?($J%BG? & >? & E%*$5;R($?&
A(%5$6,$(?L & /E & 9($E,$(? & 6=*%(3 & %9(,5,:;%E?5 & %6*=E%5 & E=>%:B%5 & @=,3&
D$5;?($F%E,:;,3 & >,H$:$(%E & %5 & (,6%BC,5 & >, & ;(%A%6D? & >?F,:;, & :? & 9%"5L & /E&
5,*=$>% & %:%6$5%E?5 & F?E? & ,55%5 & (,9,(F=;,E & 9($:F"9$?5 & , & F($;R($?5 & >,&
F%((,$(%3&(,E=:,(%BG?&,&>,&9?6";$F%&>,&#%6?($J%BG?&>?&E%*$5;R($?&,N9(,55?5&
,E & >?F=E,:;?5 & :%F$?:%$5 & ,6%A?(%>?5 & 5,X% & 9?( & 9%(;, & >?5 & E?#$E,:;?5 & ,&
5$:>$F%;?5&>?50%5&;(%A%6D%>?(,50%5&>%&,>=F%BG?3&5,X%&9?(&9%(;,&>?&/5;%>?3&,&
,E&>?F=E,:;?5&>,&?(*%:$5E?5&$:;,(:%F$?:%$5L&
.;<;=>;?@2B;=C8'#%6?($J%BG?&>?&E%*$5;R($?3&F%((,$(%&>?F,:;,3&>?F=E,:;?5&
>,&#%6?($J%BG?&>?F,:;,L
;=F%skgU?$LF?ELA(
!"2-%."&#*'-3'.3&645-K''*'!":30*45-'"(32*)6G*'"%'%:'"'*'
2-+!*&4*'("'!"#30)*(-#
'%($%&I,6,:%&8=*=5;?&.)8/01)'23&4(%5$67
b,5;, & %(;$*? &$:;$;=6%>? & `Z,F?E9,:5% & ?= & 9=:$BG?L & 8 &(,*=6%BG? & ,>=F%;$#%&
,E&'2&,&%&F?A(%:B%&>,&(,5=6;%>?5a&R&%9(,5,:;%>%&%&9(?9?5;%&>?&*?#,(:?&
>, & '$:%5 & 2,(%$53 & 4(%5$63 & :% & W(,% & />=F%F$P:%63 & 5?A(, & % & *,5;G? & >?5&
9(?H$55$?:%$5 & >% & ,>=F%BG?3 & @=, & 5, & $:5,(, & :? & Q(?*(%E% & `VD?@=, & >,&
2,5;G?aL&m3&,E&F=(5?&:?&/5;%>?3&>=(%:;,&>?$5&9,("?>?5&>,&*,5;G?c&ijjh&%&
ijjk & , & ijjo & % & ijmjL & _ & %(;$*? & R & ,5F($;?3 & % & 9%(;$( & >, & =E% & 9,5@=$5% & >,&
>?=;?(%>?3&,E&%:>%E,:;?3&5?A(,&%&(,*=6%BG?&,>=F%;$#%&,E&'$:%5&2,(%$53&
,E&@=,&XW&H?$&(,%6$J%>?&;(%A%6D?&>,&F?6,;%&>,&>%>?5&,&?A5,(#%BG?&$:&6?F?3&
6,#%:;%E,:;? & , & %:W6$5, & >?F=E,:;%63 & A,E & F?E? & ,5;=>? & >, & (,H,(,:F$%6&
A$A6$?*(WH$F? & 5?A(, & ? & ;,E%L & 8 & 9%(;$( & >?5 & (,5=6;%>?5 & 9%(F$%$53 & ? & 9(?9P5$;?&
>,5;, & %(;$*? & R & %:%6$5%( & ? & 9%9,6 & >? & /5;%>? & :? & E%(F? & >%5 & 9?6";$F%5 & >,&
(,*=6%BG?&,>=F%;$#%3&,&?5&,H,$;?5&>%5&E,>$>%5&>,&?A($*%BG?&>,&(,5=6;%>?5&
5?A(,&%5&,5F?6%5&,&?5&9(?H,55?(,5L
.;<;=>;'2B;=C8&(,*=6%BG?3&,5;%>?3&9?6";$F%5&>,&(,*=6%BG?&,>=F%;$#%L
E%6,:%L?*%U*E%$6LF?E
:"#)5-'(*'"(32*45-'+I#62*'"')!*+*01-'(-2"&)"8'*0:3%*#'
*.!-H6%*49"#
4,:;?&!=$J&+,(#6?,;&'%FD%>?&>%&K$6#%&b,;?&.1)Q83&4(%5$67&
Q,>(?&I,:($@=,&>,&K?=5%&S%#%(,5&.1)Q83&4(%5$67
/5;,&;,N;?&H?$&,6%A?(%>?&%&9%(;$(&>%&(,#$5G?&>%&6$;,(%;=(%&,N$5;,:;,&%F,(F%&>%&
*,5;G?&>%&,>=F%BG?&AW5$F%&,&>?5&,5;=>?5&5?A(,&;(%A%6D?&>?F,:;,3&,6%A?(%>?&
%&9%(;$(&>%5&6,$;=(%5&(,%6$J%>%5&:%&9,5@=$5%&`S(%A%6D?&[?F,:;,&:%&/>=F%BG?&
4W5$F% & :? & 4(%5$6a3 & H$:%:F$%>? & 9,6? & VbQ@3 & ;,E & 9?( & ?AX,;$#? & %9(,5,:;%(&
%6*=E%5 & (,H6,NC,5 & 5?A(, & %5 & E=>%:B%5 & :% & *,5;G? & , & %>E$:$5;(%BG? & >?5&
5$5;,E%5 & />=F%F$P:%$53 & (,5=6;%>?5 & >% & :?#% & (,*=6%BG? & >%5 & 9?6";$F%5&
/>=F%F$P:%$5 &,&>%&:?#%&H?(E%&>, &%F=E=6%BG? &>?&F%9$;%63&,&>?5&$E9%F;?5&
5?A(,&?&;(%A%6D?&>?F,:;,3&H=:>%E,:;%:>?<5,&:%&D$9P;,5,&>,&9(,F%($J%BG?&,&
>,59(?H$55$?:%6$J%BG?3&%9?:;%:>?&F?E?&%&%6;,(%BG?&:%&:%;=(,J%&,&$>,:;$>%>,&
>?F,:;,L&89(,5,:;%&%5&:?#%5&,N$*O:F$%5&@=,&,E,(*$(%E&>%&(,*=6%BG?&>%5&
9?6";$F%5&/>=F%F$P:%$5&9%(%&?&;(%A%6D?&>?F,:;,L
.;<;=>;?'f'2B;=C?c&*,5;G?&>%&,>=F%BG?&AW5$F%3&H6,N$A$6$J%BG?3&;(%A%6D?&
>?F,:;,L
A,:;?L#,(#6?,;U*E%$6LF?E
9,>(?E$F%zUD?;E%$6LF?E
P!":30*&'0-#'"#)*)3)-#'(-2"&)"#Q'3&*'*.!-H6%*26F&'*0'
2*#-'*!:"&)6&-
Z?N%:%&Q,(%JJ%&.1483&8(*,:;$:%7
/:&6%&9(,5,:;,&9?:,:F$%&5,&&>,5F($A,:&%6*=:%5&F%(%F;,("5;$F%5&>,&6%&9($E,(%&
:?(E% & @=, & (,*=6P & 6% & F%((,(% & >?F,:;, & ,: & 6% & 8(*,:;$:% & >,5>, & mtsvL & !%&
(,H,(,:F$% & %6 & F%5? & %(*,:;$:? & & & F?:5;$;=Y, & =: & ,X,E96? & HR(;$6 & ,: & 9?5 & >,&
>,E?5;(%(&&6%&:,F,5$>%>&>,&(,H?(J%(&,6&9%9,6&>,6&/5;%>?3&F?E?&>,F$5?(&>,&6%&
9?6";$F% & & 9%(% & ,6 & 5,F;?(L & K$ & A$,: & 6%5 & F%((,(%5 & >?F,:;,5 & (,@=$,(,: & :=,#%5&
(,*=6%F$?:,5 & @=, & >,: & F=,:;% & >, & 6%5 & :,F,5$>%>,5 & Y & >,E%:>%5 & ;%:;? & >,6&
5,F;?(&>?F,:;,&F?E?&>,&6?5&5$5;,E%5&,>=F%;$#?53&;%EA$R:3&,5&9(,F$5?&@=,&
5,&&%:%6$F,:&Y&5,&H?(;%6,JF%:&6%5&F%9%F$>%>,5&,5;%;%6,5&9%(%&9?>,(&&F=E96$(&
F?: & 6%5 & H=:F$?:,5 & 9(?9$%5 & >,6 & /5;%>?L & 8(*,:;$:% & 9=,>, & (,5=6;%( & =: & F%5?&
$:;,(,5%:;,&9%(%&$6=5;(%(&6%5&>$H$F=6;%>,5&F?:&6%5&@=,&5,&,:F=,:;(%&,6&/5;%>?3&
>,5>, & D%F, & >RF%>%53 & 9%(% & 9?>,( & 66,#%( & % & F%A? & F=,5;$?:,5 & @=, & 5" & ,5;W:&
96%:;,%>%5&,:&6%&:?(E%&Y&@=,&9?(&>$#,(5%5&5$;=%F$?:,5&:?&5,&D%:&9?>$>?&
$E96,E,:;%(L&
.;<;D>;?'A<;=C?c&,5;%;=;?5&>?F,:;,5<&F%((,(%&>?F,:;,
(?N%:%9,(%JJ%U*E%$6LF?E
","'g
6("&)6(*('&*26-&*0'b'"(32*26F&
[3X'S>TD<CW;'hiC'>ChijC>C'C?SCAj;<';YCXAjkX'l'?T<iAjTXC?'ST<mYjA;?\
\L&'%($?&Q?(;?F%((,(?&w=$:;%:%&.1b'K'3&Q,(M7
K, & %A?(>% & 6% & :,F,5$>%> & >, & 9(,F$5%( & ,6 & 5,:;$>? & @=, & ;$,:,: & 6%5 & F%;,*?("%5&
F?:F,9;=%6,5 & & >, & $>,:;$>%>3 & :%F$P: & Y & ,>=F%F$P: & F?E? & =: & E%(F? & ;,P($F?&
5=H$F$,:;, & @=, & 5$(#% & 9%(% & %(;$F=6%( & 6% & 9(WF;$F% & >, & 6?5 & @=, & 5, & D%66%: & ,: & ,6&
5,F;?(&9(?*(,5$#?&>,&6%&5?F$,>%>L&
/:&;%6&5,:;$>?&5,&9(,F$5%&@=,&6%&%=;?F?:F$,:F$%&>,&9,(;,:,:F$%&%F;$#%&,:&6%&
D$5;?($%&,5&6?&@=,&F?:5;$;=Y,&,6&:MF6,?&>,&6%&$>,:;$>%>&9,(5?:%6&Y&:%F$?:%6&Y&
,5;,&,5&=:&>%;?&>,&F?E9(,:5$P:&>$(,F;%L&'$,:;(%5&@=,&6%&F?E9(,:5$P:&>,&6?&
:%F$?:%63 & 9%5% & 9?( & ,6 & ,N%E,: & D$5;P($F? & >, & 5= & ?($*,: & ,:;,:>$,:>? & 5=&
;(%:5H?(E%F$P:&>,&%6;,(:%;$#%&A=(*=,5%&,:&=:%&%6;,(:%;$#%&%:;$$E9,($%6$5;%&
9,(?&E%:;,:$,:>?&5=&E?;$#%F$P:&@=,&,5&,6&(,F6%E?&>,&5?A,(%:"%L
K,&5?5;$,:,&@=,&,6&96%:;,%E$,:;?&>,&%6;,(:%;$#%5&,:&,6&F%E9?&/>=F%F$P:%63&
$E96$F% & =: & F?E9(?E$5? & ,: & >,H,:5% & >, & 6% & ,>=F%F$P: & 9MA6$F%<:%F$?:%6 & Y & 6%&
$>,:;$>%> & F=6;=(%6 & >, & & 6%5 & 9,(5?:%5 & 9?:$,:>? & ,: & ,6 & F,:;(? & >,6 & 9(?A6,E%&
/>=F%F$P:%6&%&6?5&,>=F%:>?5&>,&>$5;$:;%5&,>%>,5&F?:&,6&?AX,;$#?&F,:;(%6&>,&
6% & $:5,(F$P: & ,: & ,6 & F%E9? & 9(?>=F;$#? & Y & ,6 & >,5%((?66? & >, & ;?>%5 & 5=5&
9?;,:F$%6$>%>,5L
1(*,&6%&:,F,5$>%>&>,&H?(E%(&(,>,5&%E96$%5&>,&$:#,5;$*%F$P:&Y&,N9,($,:F$%&
,>=F%;$#%L
!"#"$%"&'(#")*+123$(.)3'3415360'0)7(418'0)7(
E%($?9?(;UD?;E%$6LF?E
*':0-+*06E*45-J'*'!"7-!%*'3&6G"!#6)I!6*'"'*'2-&2".45-'("'
3&6G"!#6(*("8'-'2-&)"H)-'(*'7-!%*45-'(-'.!-7"##-!K
'%($%&>%&2(%B%&bPA(,*%&4?66E%::&.1:$5=63&4(%5$67
/5;, & ,5;=>? & F?:;,E96% & =E% & %:W6$5, & >?F=E,:;%6 & 5?A(, & % & D$5;P($% & >%&
=:$#,(5$>%>, & :? & 4(%5$6 & , & 5=%5 & (,H?(E%5 & :?5 & E%(F?5 & >% & *6?A%6$J%BG?L & K,=&
?AX,;$#?&R&?&>,&F?E9(,,:>,(&?5&,H,$;?5&>%5&;(%:5H?(E%BC,5&:?&E=:>?&>?&
;(%A%6D?&:%&F?:F,9BG?&>,&=:$#,(5$>%>,&-&6PF=5&>%&H?(E%BG?&>?5&9(?H,55?(,5&
,&5,=5&(,A%;$E,:;?5&:,55,&9(?F,55?L&8&=:$#,(5$>%>,&R&=E%&$:5;$;=$BG?&5?F$%6&
,&5=%&6,*$;$E$>%>,&5,&5=5;,:;%&:?&9($:F"9$?&>%&%=;?:?E$%L&8&H?(E%BG?&>?&
9(?H,55?(&,5;W&%6$F,(B%>%&,E&=E&F?:;,N;?&,E&@=,&?5&F=(5?5&>,&H?(E%BG?&
>?F,:;,&9?>,E&F?:;($A=$(&9%(%&%&(,9(?>=BG?&>?&E,(F%:;$6$5E?&/>=F%F$P:%6&
?= & 9?>, & (,#,(;,( & ,55% & 6P*$F%3 & F?E & =E% & H?(E%BG? & AW5$F% & %6$F,(B%>% & :%&
9,5@=$5%&,&:%&9(?>=BG?&>?&F?:D,F$E,:;?L
.;<;=>;?'2B;=C?8&*6?A%6$J%BG?3(,H?(E%&=:$#,(5$;W($%L
*(%B%LA?66E%::U=:$5=6LA(
!"."!23##9"#'("'.*!2"!6*#'.$+062-@.!6G*(*#'&-')!*+*01-'
(-2"&)"'"%'"#2-0*#'.$+062*#
S,(,J$:D%&)W;$E%&8:>(%>,&'?:;,$(?&>?5&K%:;?5&&.1)Q83&4(%5$67
/5;, & ;,N;? & %9(,5,:;% & %6*=:5 & ,6,E,:;?5 & $E9?(;%:;,5 & 9%(% & >$5F=55G?3&
F,:;(%:>? & :? & ,$N? & >% & 2/KS‚_3 & >,F?((,:;, & >% & 9,5@=$5% & `85 & F?:;($A=$BC,5&
>%5&9%(F,($%5&9MA6$F?<9($#%>%5&9?(&E,$?&e:5;$;=;?&8Y(;?:&K,::%&:%&*,5;G?&>%&
,>=F%BG?&:?5&E=:$F"9$?5&>,&86;%E$(%&,&K%:;%(REa&_5&>%>?5&,5;G?&5,:>?&
F?6,;%>?5&:,55,5&E=:$F"9$?53&:%&,5H,(%&>%&*,5;G?&>?&5$5;,E%&>,&,:5$:?&,&
,E & h & ,5F?6%5 & >% & (,>, & E=:$F$9%63 & , & :%5 & 5,>,5 & >%5 & e:5;$;=$BC,5 & 9($#%>%5&
>$(,;%E,:;, &,:#?6#$>%5&:?&Q(?*(%E%3 &F?:5;$;=$:>?3&%55$E3 &;(O5&>$E,:5C,5&
9%(%&%&$:#,5;$*%BG?L
.;<;=>;'2B;=C8&;(%A%6D?&>?F,:;,3&(,>,&9MA6$F%3&(,>,&9($#%>%L
;,H%EU=H9%LA(
6&703"&26*'("'0*#'.-06)62*#''"(32*)6G*#'"&'"0'("#"%."n-'("0'
(-2"&)"
2$?#%::%&2=JEW:&Q%6?E$:?&.eKQL&K%:&'%(F?53&Q,(M7
/6&9(?F,5?&>,&;(%:5H?(E%F$P:&,:&!%;$:?%ER($F%&D%&,5;%>?&F%(%F;,($J%>?&9?(&
6%&$E96,E,:;%F$P:&>,&(,F,;%5&Y&(,5?6=F$?:,5&;RF:$F%5&@=,&6?5&,59,F$%6$5;%5&
,6%A?(%:&9%(%&5,(&%96$F%>%5&,:&F=%6@=$,(&F?:;,N;?L&&/6&;(%A%X?&>?F,:;,&5,&#,&
%H,F;%>?&9?(@=,&,5;%5&9?6";$F%5&,>=F%;$#%5&F?:F(,;$J%>%53&%6*=:?5&F%5?53&,:&
(,H?(E%5&5?:&9(,5,:;%>%5&F?E?&=:&`9%@=,;,a&@=,&9=,>,&5,(&%96$F%>?&,:&
F=%6@=$,(%&>,&6?5&9%"5,5&>,9,:>$,:;,5&>,&!%;$:?%ER($F%3&%&E?>?&>,&(,F,;%&?&
9(?;?F?6? & @=,3 & EW5 & @=, & (,59?:>,( & % & 6%5 & :,F,5$>%>,5 & ,>=F%;$#%5 & >, & 6%&
9?A6%F$P:3 & :? & D%F, & EW5 & @=, & 9(?F=(%( & =: & 5$5;,E% & @=, & 9,(E$;% & 9?( & 5?A(,&
;?>%5 & 6%5 & F?5%53 & F=E96$( & F?: & 6%5 & $E9?5$F$?:,5 & >, & 6?5 & ?(*%:$5E?5 & >,&
H$:%:F$%E$,:;? & $:;,(:%F$?:%6L & & /6 & 9(?A6,E% & 5, & 9(,5,:;%3 & Y & & F?E? & ,5 & >,&
5=9?:,(3 & F=%:>? & ,5;?5 & 9%@=,;,5 & ,>=F%;$#?5 & @=, & 5, & $E9?:,:&
%(A$;(%($%E,:;,&%&(,%6$>%>,5&>$5;$:;%5&F?E?&6%&:=,5;(%&:?&H=:F$?:%:3&Y%&5,%&
9?(@=,&:?&D%:&5$>?&F?:;,N;=%6$J%>%53& &9?(@=,&6%5&9?6";$F%5&Y&6$:,%E$,:;?5&
,>=F%;$#?5 & :? & %;$,:>,: & & :=,5;(%5 & 9(?9$%5 & >,E%:>%5 & ? & 9?( & H%F;?(,5&
,F?:PE$F?5L&&/:;?:F,5&5=(*,&6%&9(,*=:;%&&d&V?E?&D%F,:&6?5&>?F,:;,5&9%(%&
F?:F(,;$J%(&,5;%5&9?6";$F%5&,:&5=&;(%A%X?&>$%($?&>,:;(?&>,&6%5&%=6%5f& &d5?:&
,66?5&6?5&(,59?:5%A6,5&>,6&H(%F%5?&>,&,5;%5&9?6";$F%5f&&
.;<;D>;?'2<;=C?8&>,5,E9,l?&>,&6?5&>?F,:;,53&9?6";$F%5&,>=F%;$#%53&;(%A%X?&
>?F,:;,
*z*=JE%:jsUD?;E%$6LF?E
)!*+*01-'(-2"&)"'"'*06"&*45-8'3%*'*+-!(*:"%'*'.*!)6!'("'
"#2-0*#'.$+062*#'.*!*6+*&*#
',6]:$%&',:>?:B%&Z?>($*=,5&.1)V23&4(%5$67
e56%Y:,&'?:%6$5%&>%&K$6#%&',>,$(?5&.1)V23&4(%5$67
K?:%Y(%&>%&K$6#%&',>,$(?5&.1)V23&4(%5$67
[%:>? & 5,@=O:F$% & % & ,5;=>?5 & %:;,($?(,53 & (,6%;$#?5 & ^ & ;,EW;$F% & >? & ;(%A%6D?&
>?F,:;,3&?&%(;$*?3&(,H,(,:F$%>?&:?&F%E9?&;,P($F?&>?&E%(N$5E?3&#$5%&>$5F=;$(&
% & %6$,:%BG? & :? & ;(%A%6D? & >?F,:;, & >,5,:#?6#$>? & ,E & ,5F?6%5 & >, & ,:5$:?&
H=:>%E,:;%6&-&%:?5&$:$F$%$5&-&>%5&(,>,5&9MA6$F%5&>?&E=:$F"9$?&>,&V%E9$:%&
2(%:>,3&:?&/5;%>?&>%&Q%(%"A%3&4(%5$6L&V?:5$>,(%:>?&%5&>,;,(E$:%BC,5&E%$5&
*,(%$5&>?&;(%A%6D?&>?F,:;,&5?A&?&F%9$;%6$5E?3&%A?(>%&,6,E,:;?5&,59,F"H$F?5&
>%5&9?6";$F%5&/>=F%F$P:%$5&$:5;%=(%>%5&:,55,&E=:$F"9$?3&@=,&F?:F?((,E&9%(%&
? & %*(%#%E,:;? & >,55, & 9(?F,55?3 & >,5;%F%:>?3 & E%$5 & >,;$>%E,:;,3 & ?5&
9(?*(%E%5 & K$5;,E% & >, & 2,5;G? & e:;,*(%>? & .K2e73 & 8F,6,(% & 4(%5$6 & , & K, & !$*%3&
$E96%:;%>? & :%5 & ,5F?6%5 & 9MA6$F%5 & E,>$%:;, & F?:#O:$?5 & >%5 & K,F(,;%($%5 & >,&
/>=F%BG? & F?E & ?(*%:$5E?5 & 9($#%>?53 & ?5 & e:5;$;=;?5 & V%E%(*? & V?((,%3&
869%(*%;%5&,&8Y(;?:&K,::%L
.;<;=>;?@AB;=Cc&S(%A%6D?&>?F,:;,T&86$,:%BG?T&/5F?6%&9MA6$F%L
E,6%:$%L(U=?6LF?ELA(
,:Y%65$U*E%$6LF?E
5?:%Y(%E,>,$(?5UD?;E%$6LF?E
.-0O)62*#'.$+062*#'("'76&*&26*%"&)-'(*'"(32*45-'
#3."!6-!'+!*#60"6!*
+,(%&!MF$%&\%F?A&VD%#,5&.1)Q83&4(%5$67
_&%(;$*?&%:%6$5%&%&9?6";$F%&>,&H$:%:F$%E,:;?&>%&,>=F%BG?&5=9,($?(&%>?;%>%&
9,6?&2?#,(:?&!=$5&e:WF$?&!=6%&>%&K$6#%3&:?&9,("?>?&>,&ijjh&%&ijjtL&Q(?F=(%&
,5;%A,6,F,( & (,6%BC,5 & ,:;(, & % & 9?6";$F% & >% & ,>=F%BG? & 5=9,($?( & A(%5$6,$(% & , & %&
(,H?(E%&>?&/5;%>?&$E96,E,:;%>%&>,5>,&mtts&@=,&5,&H=:>%E,:;%&:?&%X=5;,&
H$5F%6&,&:%&%>?BG?&>?&9%(%>$*E%&>%&%>E$:$5;(%BG?&*,(,:F$%6&>,&(,5=6;%>?5L&
1;$6$J%E?5 & >%>?5 & H$:%:F,$(?5 & F?6,;%>?5 & :?5 & 5$;,5 & >? & *?#,(:? & H,>,(%6L & _&
,5;=>? & ,#$>,:F$?= & % & 9?6";$F% & >, & (,>=BG? & >, & $:#,5;$E,:;?5 & 9%(% & %&
E%:=;,:BG? & , & >,5,:#?6#$E,:;? & >% & ,>=F%BG? & 5=9,($?( & A(%5$6,$(% & , & ?&
H%#?(,F$E,:;? & >? & 5,;?( & 9($#%>? & :,55, & :"#,6 & >, & ,:5$:?L & V?:F6=$ & @=, & ?&
*?#,(:? & !=6% & >% & K$6#% & ;,E & 5$>? & 9%=;%>? & 9,6%5 & >$(,;($J,5 & >?5 & ?(*%:$5E?5&
E=6;$6%;,(%$5 & >, & H$:%:F$%E,:;?3 & %>?;%:>? & =E% & 9?6";$F% & >, & F?:;,:BG? & >,&
*%5;?5 &:%5 & 9?6";$F%5 &5?F$%$5 &,3& ,E& ,59,F$%63 &:% &,>=F%BG? & 5=9,($?( & 9MA6$F%&
A(%5$6,$(%3&9(,X=>$F%:>?&?&%F,55?&>%&9?9=6%BG?&%&,55,&:"#,6&>,&,:5$:?3&A,E&
F?E? &% &=E% &,>=F%BG? &>, &@=%6$>%>,L&V?:5;%;?=<5,3&%$:>%3&@=, &%9,5%( &>?&
>$5F=(5? &?H$F$%6&>,&;,(&%=E,:;%>?&?5&(,F=(5?5 &9%(%&%&,>=F%BG?3&%&%:W6$5,&
>,;%6D%>% & >? & ?(B%E,:;? & >% & 1:$G?3 & F?:5$>,(%:>? & % & E?#$E,:;%BG? & ,:;(,&
(,F,$;%5 & , & >,59,5%53 & ,#$>,:F$?= & % & 9?6";$F% & >, & %X=5;, & H$5F%6 & $E96,E,:;%>%&
9,6? & *?#,(:?3 & %;$:*$:>? & >$(,;%E,:;, & %5 & 1:$#,(5$>%>,5 & ),>,(%$5 & , & ?5&
;(%A%6D%>?(,5&@=,&%;=%E&:,55%5&$:5;$;=$BC,5L
.*0*G!*#@21*G"8& Q?6";$F% & />=F%F$P:%6T & )$:%:F$%E,:;? & >% & />=F%BG?&
K=9,($?(T&Z,H?(E%&>?&/5;%>?L
#X%F?AU=?6LF?ELA(
*#'!"7-!%*#'"(32*26F&*6#'.*306#)*#'"'-'+o&3#'%_!6)-8'
6%.*2)-#'#-+!"'-')!*+*01-'(-2"&)"'"'*'-!:*&6E*45-'(*'
"#2-0*
'%($%&\?5R&>%&K$6#%&),(:%:>,5&.)V01b/KQ&<&KG?&Q%=6?3&4(%5$67L
V?E? & ,E & ;%:;?5 & 9%"5,53 & ? & H$:%6 & >? & 5RF=6? & rr & $E96$F?= & ,E & (,H?(E%5&
/>=F%F$P:%$5&@=,&%6;,(%(%E&9(?H=:>%E,:;,&%5&F?:>$BC,5&>,&;(%A%6D?&,&>,&
H=:F$?:%E,:;?&>%5&,5F?6%5&A(%5$6,$(%53&:?;%>%E,:;,&%5&9,(;,:F,:;,5&^&(,>,&
9MA6$F%&>?&/5;%>?&>,&KG?&Q%=6?L&85&(,H?(E%53&9(?E?#$>%5&F?E&?&%9?$?&>,&
%*O:F$%5 & $:;,(:%F$?:%$53 & E$:$E$J%(%E & ? & 9%9,6 & >? & /5;%>? & ,E & (,6%BG? & ^&
,>=F%BG?3 & $:;(?>=J$(%E & F?:F,$;?5 & ,F?:pE$F?5 & :% & *,5;G? & >%5 & ,5F?6%5 & ,&
%E96$%(%E&%&(,59?:5%A$6$J%BG?&>?F,:;,3&XW&@=,&?5&9(?H,55?(,5&,&*,5;?(,5&
9%55%(%E&%&5,(&$:F$5$#%E,:;,&F?A(%>?5&9,6?&5=F,55?&?=&?&H(%F%55?&9,(%:;,&
%5&E=>%:B%5 &$:;(?>=J$>%5L&b,5;,&F?:;,N;?3 &:?#%5&,5;(%;R*$%5 &>, &F?:;(?6,&
>?&;(%A%6D?&>?F,:;,&9%55%(%E&%&5,(&=;$6$J%>%53&;%$5&F?E?&?&9%*%E,:;?&>,&
Ap:=5 & E,>$%:;, & ?5 & (,5=6;%>?5 & %9(,5,:;%>?5 & 9,6%5 & ,5F?6%5L & /5;, & %(;$*?3&
(,5=6;%>? & >, & =E% & 9,5@=$5% & ,E9"($F% & (,%6$J%>% & ,:;(, & ijjk<ijjv3 & #$5%&
>$5F=;$(&?&$E9%F;?&>?&9%*%E,:;?&9?(&9,(H?(E%:F,&:?&;(%A%6D?&>?F,:;,&,&:%&
?(*%:$J%BG? &>%&,5F?6%3&9($:F$9%6E,:;, &%&9%(;$(&>%&%:W6$5, &>,&,NF,(;?5 &>,&
,:;(,#$5;%5 & (,%6$J%>%5 & F?E & hj & 9(?H,55?(,5 & >, & ;(O5 & >$H,(,:;,5 & (,*$C,5 & >?&
,5;%>?L & _5 & (,5=6;%>?5 & %9?:;%(%E & ? & H?(;, & $E9%F;? & >?5 & ,6,E,:;?5 & >%&
%>E$:$5;(%BG?&*,(,:F$%6$5;%&,&9,(H?(EW;$F%&:?&;(%A%6D?&>%5&,5F?6%53&?&@=,&
;,E & F%=5%>? & E%6<,5;%( & , & F=69%A$6$J%BG? & >?5 & 5=X,$;?5 & H(,:;, & ^5 & (,H?(E%5&
/>=F%F$P:%$5&E%6&5=F,>$>%53&,N9?:>?&=E&5?H($E,:;?&R;$F?&9,(%:;,&%&9,(>%&
>%&,59,F$H$F$>%>,&D$5;P($F%&>?&;(%A%6D?&>?F,:;,L&
.;<;=>;?@AB;=C&-&(,H?(E%5&/>=F%F$P:%$5T&;(%A%6D?&>?F,:;,T&Ap:=5&ER($;?L
"(32*45-')"2&-0-:62*8'23!!6230-#'"')!*+*01-'(-2"&)"
V6%=>$%&'%>(=*%&V=:D%&.1:$#,(5$>%>,&),>,(%6&>?&Q%(%:W3&4(%5$67
_&K,;?(&>,&/>=F%BG?&Q(?H$55$?:%6&,&S,F:?6P*$F%&>%&1:$#,(5$>%>,&),>,(%6&>?&
Q%(%:W & :%5F, & D%A$;%:>? & =E & ,59%B? & @=, & :=E & F,(;? & %59,F;? & XW & 6D,&
9,(;,:F$%&,&:?=;(?&:G?L&e:>$F%<6D,&=E%&9,(;,:B%&^&9,(9,;=%BG?&>,&9%(;,&
>? & F?(9? & >?F,:;, & (,5$5;, & H?(X% & % & (,:?#%BG? & @=, & #,E & X=:;? & F?E & 5=%&
(,:?E,%BG?L & [% & %BG? & >?5 & 9(?H,55?(,5 & ,:#?6#$>?5 & :,55, & 9(?F,55? & 5,&
F($%E&?5&:?#?5&F=(5?5&D?X,&,E&%;$#$>%>,L&_&;(%A%6D?&>?F,:;,&>?5&F=(5?5&
;,F:?6P*$F?5 & H$F% & %:F?(%>? & % & 9(?F=(% & % & %>%9;%(<5, & %5 & >$59?5$BC,5 & >%5&
:?(E%5&(,*=6%(,5&@=,&9(?9C,&F?:F,9BC,5&9(W;$F%5&,&;,P($F%5&9%(%&=E%&
,5;(=;=(%&>$>W;$F?<9,>%*P*$F%&%>,@=%>%&%?&F%;W6?*?&>?&'/VL&85&:?#%5&
H?(E%BC,5 & ;,F:?6P*$F%5 & 5=(*,E & >,6$E$;%>%5 & ,:@=%:;? & 9?6";$F% & 9MA6$F%&
,N;,(:%3 & ;,:>,:>? & % & (,9,;$( & :% & ,5;(=;=(% & $:;,(:% & ?5 & $E9,(%;$#?5 & >%&
;(%>$BG?&>%&$:5;$;=$BG?&@=,&?5&%*(,*%L&[?$5&#,;?(,5&A%6$J%E&?&5=(*$E,:;?&
>?5 & :?#?5 & F=(5?53 & H$F%:>? & ,55, & :?#? & :% & 5=% & A%5, & 9?=F? & $:#,5;$>?L & ƒ&
;%(,H%&>%&V??(>,:%BG?&Q,>%*P*$F%&>%5&Q?6";$F%5&>,&/:5$:?&Q(?H$55$?:%6&
#$:F=6%>% & % & QZ_2Z8[ & ?($,:;%( & , & >$5F=;$( & :?#?5 & H$:5 & 9%(% & :?#%5&
%A?(>%*,:5 & >% & ,>=F%BG? & 9(?H$55$?:%6 & :? & 5,$? & >% & =:$#,(5$>%>,L & 85&
(,H6,NC,5&9(,5,:;,5&%@=$&(,5=6;%E&>%5&%BC,5&,&>,&%;$#$>%>,5&(,%6$J%>%5&
:=E&9(?X,;?&>,5,:#?6#$>?&X=:;?&%?5&F??(>,:%>?(,5&>?5&:?#?5&F=(5?5&>?&
K,;?(&>,&/>=F%BG?&Q(?H$55$?:%6&@=,&?AX,;$#%&%F?E9%:D%(&%&$E96%:;%BG?&
>?5&F=(("F=6?5&>?5&:?#?5&F=(5?5&,&%5&%;$#$>%>,5&>?F,:;,5&H?E,:;%E&%5&
:?#%5&9(?H$55C,5L
.;<;=>;'AB;=C8&,>=F%BG?3&;,F:?6?*$%3&F=(("F=6?5L
F6%=>$%EF=:D%U=H9(LA(
-'.0*&-'("'%")*#'M2-%.!-%6##-'("')-(-#'."0*'
"(32*45-N8'*'.-0O)62*'"(32*26F&*0'(-':-G"!&-'030*'"'
#3*'!"."!23##5-'&-')!*+*01-'(-2"&)"
+$6E%&89%(,F$>%&>,&K?=J%&.1)13&4(%5$67&
_ & 9(,5,:;, & ,5;=>? & ;,E & F?E? & ?AX,;? & >, & $:#,5;$*%BG? & ? & Q6%:? & >, & ',;%5&
`V?E9(?E$55? & >, & S?>?5 & 9,6% & />=F%BG?a & @=, & 5, & F?:5;$;=$ & F?E? & =E & >?5&
>?F=E,:;?5 & F,:;(%$5 & @=, & H=:>%E,:;%E & , & ?(*%:$J%E & ? & Q6%:? & >,&
[,5,:#?6#$E,:;?&>%&/>=F%BG?&.Q[/73&%&9%(;$(&>?&>,F(,;?&:•L&kLjig&>,&ig0g&
ijjoL&_&4(%5$63&>,5>,&?&$:"F$?&>,&ijjo&@=%:>?&F?E,B?=&?&5,*=:>?&E%:>%;?&
>? & 9(,5$>,:;, & !=6%3 & %F?E9%:D% & % & $E96,E,:;%BG? & >, & %BC,5 & >? & FD%E%>?&
Q8Vc & Q(?*(%E% & >, & 8F,6,(%BG? & 9%(% & ? & V(,5F$E,:;?3 & 6%:B%>? & F?E? & =E&
F?:X=:;? & >, & E,>$>%5 & >,5;$:%>%5 & % & %=E,:;%( & ? & F(,5F$E,:;? & >% & ,F?:?E$%&
A(%5$6,$(%L & b,55% & ,5;,$(%3 & ? & E$:$5;(? & >% & ,>=F%BG?3 & ),(:%:>? & I%>>%>3&
%:=:F$?= & ? & Q6%:? & >, & [,5,:#?6#$E,:;? & >% & />=F%BG? & .Q[/73 & >,:?E$:%>?&
$:H?(E%6E,:;,&>,&`Q8V&>%&/>=F%BG?aL&&V?:5$>,(%:>?&,55,&9%:?(%E%3&,55,&
,5;=>? & ;,#, & F?E? & ?AX,;$#? & %:%6$5%( & % & $E96,E,:;%BG? & >? & Q6%:? & >, & ',;%5&
`V?E9(?E$55? & S?>?5 & 9,6% & />=F%BG?a & , & ?5 & >,5>?A(%E,:;?5 & :%&
(,,5;(=;=(%BG? & >? & ;(%A%6D? & >?F,:;,L & w=%:;? & %?5 & 9(?F,>$E,:;?5&
E,;?>?6P*$F?53&9($E,$(%E,:;,&H?$&(,%6$J%>%&=E%&9,5@=$5%&A$A6$?*(WH$F%3&F?E&
% & H$:%6$>%>, & >, & (,%6$J%( & ? & %9(?H=:>%E,:;? & >? & (,H,(,:F$%6 & ;,P($F?L & b?&
5,*=:>? & E?E,:;?3 & (,%6$J?=<5, & =E% & 9,5@=$5% & >?F=E,:;%6 & F?E & ? & $:;=$;?&
A=5F%( &:?5&>?F=E,:;?5 &?H$F$%$5&>?&'/V&$:H?(E%BC,5 &5?A(, &?&9(?F,55? &>,&
$E96,E,:;%BG?&>?&Q6%:?&>,&',;%5&V?E9(?E$55?&S?>?5&9,6%&/>=F%BG?L&&
.;<;=>;?@AB;=C8'Q?6";$F%&/>=F%F$P:%6T&Q[/</5F?6%T&S(%A%6D?&>?F,:;,L
#$6E%5?=J%U9?:;%6L=H=LA(
!"%3&"!*45-'(-2"&)"'&-'+!*#608'*&)"2"("&)"#'(-'.6#-'
#*0*!6*0'.!-76##6-&*0'&*26-&*0
Z=A,:5&4%(A?5%&>,&V8'8Z2_&.1KQ3&4(%5$67
\=F%&2e!&.1)Z2K3&4(%5$67
8:>(R%&4%(A?5%&2_1+/e8&.1)QZ3&4(%5$67
'%($%&8:*R6$F%&Q,>(%&'ebI_S_&.1be)/KQ3&4(%5$67
8&9%(;$(&>, &=E%&A(,#, &(,#$5G?&>?&>,A%;, &%F%>OE$F?&5?A(,&%&F%((,$(%&,&%&
(,E=:,(%BG? & >?F,:;, & :? & 4(%5$63 & ? & %(;$*? & %:%6$5% & % &(,E=:,(%BG? & >,&
9(?H,55?(,5 & ,E & (,>,5 & ,5;%>=%$53 & :?5 & %:?5 & >, & mtto & , & ijjo3 & 9,("?>? & @=,&
%:;,F,>,&%&#$*O:F$%&>? &Q$5?&K%6%($%6&Q(?H$55$?:%6&b%F$?:%6&.QKQb7L&8&%:W6$5,&
(,#,6% & % & 9,(5$5;O:F$% & >, & #%($%BC,5 & 5%6%($%$5 & @=, & (,H?(B%E & ?5 & 9%>(C,5 & >,&
>,5$*=%6>%>,&(,*$?:%$5&>?&9%"53&%$:>%&@=,&5,X%&9?55"#,6&?A5,(#%(&;,:>O:F$%5&
>,&(,F?E9?5$BG?&5%6%($%6&%F$E%&>%&$:H6%BG?&:?&9,("?>?&,5;=>%>?L
.;<;=>;?@AB;=C8& (,E=:,(%BG? & >?F,:;,T & 9$5? & 5%6%($%6T & H$:%:F$%E,:;? & >%&
,>=F%BG?L
(=A,:5AFU=59LA(
X=F%*$6U=?6LF?ELA(
%:>(,%A*U=H9(LA(
EE$:D?;?U=?6LF?ELA(
)!*+*01-'(-2"&)"'&-'"&#6&-'%_(6-'&-'+!*#60
2$6#%:&!=$J&'%FD%>?&V?5;%&.1:$5=63&4(%5$67
_ & ,5;=>? & ?AX,;$#?= & F?E9(,,:>,( & ? & ;(%A%6D? & >?5 & 9(?H,55?(,5 & >? & ,:5$:?&
ER>$?&:?&4(%5$6L&4=5F?=<5,&:%&6$;,(%;=(%&,&:?5&>?F=E,:;?5&>$59?:$A$6$J%>?5&
9,6?&'$:$5;R($?&>?&S(%A%6D?&,&/E9(,*?&-&'S/&,&9,6?&'$:$5;R($?&>%&/>=F%BG?&
- & '/V3 & $>,:;$H$F%( & @=,E & 5G? & ?5 & 5=X,$;?5 & >?F,:;,5 & >? & ,:5$:? & ER>$? & ,&
F?E9(,,:>,( & %5 & F?:>$BC,5 & ,E & @=, & ? & ;(%A%6D? & >?F,:;, & 5, & (,%6$J% & :,55%&
,;%9% & >% & ,>=F%BG? & AW5$F%L & 8 & ,@=$>%>, & 5?F$%6 & 9(,F?:$J%>% & 9,6% & (,H?(E%&
/>=F%F$P:%6 & 6?*(?= & ON$;? & F?E & % & ,N9%:5G? & >%5 & E%;("F=6%5 & :% & ,>=F%BG?&
AW5$F%3&E%53&,&?5&>?F,:;,5f&Q?>,<5,&$:H,($(&@=,&?5&9(?H,55?(,5&>?&,:5$:?&
ER>$?& >%5& ,5F?6%5 & 9MA6$F%5 & F?E9C,E &=E& *(=9?&E=$;?& 5$:*=6%(& , &@=, & H?$&
9(,F%($J%>? & 9,6%5 &(,H?(E%5L & _5& 9(?H,55?(,5 & >%& M6;$E% & ,;%9% &>% &,>=F%BG?&
AW5$F%3&,E&(,6%BG?&%?5&>%&,>=F%BG?&$:H%:;$6&,&,:5$:?&H=:>%E,:;%63&;OE&E%$5&
%=6%53&;=(E%53&%6=:?53&;=(:?5&,&,E9(,*?5L&S%6&F?E9(,,:5G?&5$:%6$J%&9%(%&%&
:,F,55$>%>,&>,&,5;=>?5&@=,&9?55%E&>,5#,6%(3&%$:>%&E%$53&@=,E&5G?&,55,5&
5=X,$;?5 & , & 5=%5 & F?:>$BC,5 & >, & ;(%A%6D?L & w=,5;C,5 & (,6%F$?:%>%5 & ^ & 5%M>,3 & ^&
,#%5G?&>,&9(?H,55?(,53&%?&>,5$:;,(,55,&>?5&X?#,:5&,E&;?(:%(<5,&;(%A%6D%>?(&
>%&,>=F%BG? &, &^&H%6;%&>,&9(?H,55?(,53 &5?A(,;=>?&:?&,:5$:?&ER>$?3&,&@=,&
,5;G? & %(;$F=6%>%5 & ^ & 9(,F%($J%BG? & >% & (,E=:,(%BG? & , & >%5 & F?:>$BC,5 & >,&
;(%A%6D?3&F?:;$:=%E&%;=%$5&,&9(,F$5%E&5,(&F?E9(,,:>$>%5L
.;<;=>;'AB;=C8&,:5$:?&ER>$?3&;(%A%6D?&>?F,:;,3&F?:>$BC,5&>,&;(%A%6D?L
*$6#%:LF?5;%U=:$5=6LA(
"(32*45-'#-26*0'"'-'"(32*(-!'#-26*08'*'"(32*45-'&-#'
"#.*4-#'&5-@"#2-0*!"#'2-%'2!6*&4*#'"',-G"&#'"%'#6)3*45-'
("'!6#2-'"%'&*)*0V!&
8:>(,JJ%&'%($%&4%;$5;%&>?&b%5F$E,:;?&S%#%(,5&.e)Zb&F%E9=5&'%F%=3&4(%5$67
)WA$?&86,N%:>(,&8(%MX?&>?5&5%:;?5&.e)Zb&F%E9=5&'%F%=3&4(%5$67
8&9,5@=$5%&%A?(>%&%&;,EW;$F%&>%&`/>=F%BG?&K?F$%63&>%&Q,>%*?*$%&K?F$%6&,&
>%&H?(E%BG?&>?&Q,>%*?*?a&:%&;,:;%;$#%&>,&(,H6,;$(&5?A(,&?&9,(H$6&9(?H$55$?:%6&
>?5 & Q,>%*?*?5 & @=, & %;=%E & 9(?H$55$?:%6E,:;, & :% & H=:BG? & >, & />=F%>?(,5&
K?F%$5 & :?5 & ,59%B?5 & :G? & ,5F?6%(,5L & _AX,;$#% & %9?:;%( & ?5 & 5,:;$>?53 & %5&
9,(59,F;$#%5 & , & ?5 & >,5%H$?5 & >% & %;=%BG? & , & >% & H?(E%BG? & >? & Q,>%*?*?&
:,F,55W($?5 & %? & ;(%A%6D? & >,5,:#?6#$>? & :?5 & ,59%B?5 & :G?<,5F?6%(,5 & >,&
%F?6D$E,:;?&%?5&5=X,$;?5&#";$E%5&>%&,NF6=5G?&5?F$%6L&Q%(%&(,%6$J%(&?&,5;=>?3&
>,5,:#?6#,=<5,&9,5@=$5%&>,&:%;=(,J%&@=%6$;%;$#%3&9?(&E,$?&>%&%A?(>%*,E&
,;:?*(WH$F%&F(";$F%3&9($#$6,*$%:>?&%5&$:H?(E%BC,5&F?6,;%>%5&X=:;?&%&=E&*(=9?&
>,&F$:F?&Q,>%*?*?5</>=F%>?(,5&K?F$%$5&%;=%:;,5&,59%B?5&,E&,59%B?5&:G?<
,5F?6%(,5 & X=:;? & ^ & 9(,H,$;=(% & E=:$F$9%6 & >, & b%;%6<ZbL & 8 & 9,5@=$5% & ,5;W&
#$:F=6%>%&%?&2Z1Q_&[/&/KS1[_K&/&Q/Kw1eK8&/'&!eb2182/bK3&)_Z'8„‚_&
QZ_)eKKe_b8!&[_V/bS/&/&ebV!1K‚_&K_Ve8!&.2/!)_QeK7&#$:F=6%>?&%?&e)Zb3&
*(=9? & F,(;$H$F%>? & 9,6? & VbQw3 & A,E & F?E? & % & 6$:D% & >, & 9,5@=$5% & Q?6";$F%5&
/>=F%F$P:%$53&H?(E%BG?&>?F,:;,&,&$:F6=5G?&5?F$%6L&[,:;(,&?5&9(?F,>$E,:;?5&
E,;?>?6P*$F?5 & @=, & E%;,($%6$J%(%E & % & 9,5@=$5%3 & >,5;%F%E?5 & ( & ,#$5G?&
A$A6$?*(WH$F%3 & 9,5@=$5% & >?F=E,:;%63 & ,:;(,#$5;%5 & 5,E$<,5;(=;=(%>%53&
@=,5;$?:W($?<(?;,$(?3 & ?A5,(#%BG? & , & >$W($? & >, & F%E9?L & _ & (,H,(,:F$%6 & ;,P($F?&
=;$6$J%>?&H?$&$6=E$:%>?&9?(&2=$>>,:5&.ijjh73&S?((,5&.mtti73&Q,;(=5&.ijjh73&
S($66% & .ijjh73 & Z?E%:5 & .ijjh73 & Q%=6? & )(,$(, & .ijjh73 & Q,;,( & 'F6%(,E & .ijji73&
K$E5?: & .ijjh73 & S%(>$H & .ijjh7 & , & Z%E%6D? & .ijjh7L & K,( & ,>=F%>?( & 5?F$%6&
5$*:$H$F%&9(?A6,E%;$J%(&%&H?(E%BG?&9,55?%6&,&%55=E$(&?&F?E9(?E$55?&F?E&?&
>,5,:#?6#$E,:;? & 96,:? & >? & ,>=F%:>? & A=5F%:>? & ;(%:5H?(E%( & %5 & (,%6$>%>,5&
,NF6=>,:;,5&@=,&,5;G?&9?5;%5&9,6?&E?>?&>,&9(?>=BG?&F%9$;%6$5;%&#$*,:;,L&
855$E3&#%6,&>,5;%F%(&@=,&%&;(%:5H?(E%BG?&>,&:?55%&5?F$,>%>,&>,#,&A%5,%(<
5,&:?&F?:D,F$E,:;?3&:%&9?6$;$J%BG?&F?:5F$,:;,&,&%(;$F=6%>%3&F?E&%&#?:;%>,&
>?&9(?H,55?(<,>=F%>?(&5?F$%6&>,&E=>%(&%&5=%&9(W;$F%&,&9(?F=(%(&H?(E%BC,5&,&
9,5@=$5%5&%6$%>%5&%?5&+%6?(,5&I=E%:?5&,E&>,H,5%&>%&#$>%L&
.;<;=>;?@AB;=Cc&/>=F%BG?&K?F$%63&Q,>%*?*$%&K?F$%63&/>=F%BG?&:G?<,5F?6%(L
%:>(,JJ%L;%#%(,5U=?6LF?ELA(
M(6G"!#*#'.-0O)62*#'("'.!-7"#6-&*06E*26F&'(-2"&)"'b'#3'
)"&("&26*'*'0*'+3!-2!*)6E*26F&'"&'%_H62-'/`pa@]aaqN
'%L&[,6&V%(E,:&'?:;,(?&S$(%>?&&.1:$#,(5$>%>&Q,>%*P*$F%&b%F$?:%6<8X=5F?3&
'RN$F?7
/: & ,6 & ;(%:5F=(5? & >,6 & 5$*6? & rr & Y & %D?(% & 5$*6? & rre & 6% & 9(?H,5$?:%6$J%F$P: & D%&
#,:$>? & ,N9,($E,:;%:>? & >$#,(5?5 & 5$*:$H$F%>?53 & %6 & 9%(,F,( & ,: & 6% & 5,*=:>%&
E$;%>&>,6&5$*6?&rr&,5;%A%&F,:;(%>%&,:&6%&H?(E%F$P:&$:$F$%6&Y&9,(E%:,:;,&>,&
6?5 & >?F,:;,5 & %5" & F?E? & ,: & 6% & (,*=6%($J%F$P: & >,6 & ,X,(F$F$? & >, & ,5;?53&
9?5;,($?(E,:;,&%:;,&6?5&(,@=,($E$,:;?5&>,6&/5;%>?&5,&#$?&6%&:,F,5$>%>&>,&
F?:5;$;=$( & =: & 5$5;,E% & >, & (,F6=;%E$,:;?3 & 9,(E%:,:F$% & Y & E?#$6$>%> & >, & 6?5&
>?F,:;,5 & .9?( & E,>$? & =:% & F?:;(%;%F$P: & 6%A?(%6 & #"% & 5$:>$F%6 & Y & ,6&
,5;%A6,F$E$,:;? & >, & =: & ,5F%6%HP:7L & 16;,($?(E,:;, & % & H$:,5 & >,6 & 5$*6? & rr & Y&
9($:F$9$?5 & >,6 & rre3 & 6%5 & 9?6";$F%5 & >, & 9(?H,5$?:%6$J%F$P: & >?F,:;, & 5, & D%:&
F,:;(%>?&,:&6%5&(,H?(E%5&,>=F%;$#%53&,:&,6&F?:;(?6&5?A(,&,6&;(%A%X?&>?F,:;,&
Y& 5=5 &F?:>$F$?:,5 &>, & ;(%A%X?3 & %5" &F?E? & ,6 & ,5;%A6,F$E$,:;? &5$5;,EW;$F? & >,&
,5;(%;,*$%5 & >, & ,#%6=%F$P: & #$:F=6%>%5 & % & =: & 96%: & >, & ,5;"E=6?5 & 9%(% & ,6&
$:F(,E,:;? & >, & 6%5 & 9,(F,9F$?:,5 & >, & 6?5 & >?F,:;,5L & Q?( & ?;(? & 6%>?3 & 6%&
9(?H,5$?:%6$J%F$P: & >?F,:;, & F?E? & =:% & 9?6";$F% & >, & /5;%>? & D% & #,:$>? & D%&
;(%5;?F%( & 6%5 & A%5,5 & 5?A(, & 6%5 & F=%6,5 & 5, & D%A"% & F$E,:;%>? & 6% & 9(,?F=9%F$P:&
5?F$%6&>,&H?(E%F$P:&Y&%F;=%6$J%F$P:&>?F,:;,&.5=(*$>%&%&H$:,5&>,6&5$*6?&rer&Y&
9,(H,FF$?:%>% &,: & ,6 & 5$*6? & rr73 &% & 6%& @=, & 5, & 6, &66%E%A% & 9(?H,5$?:%6$>%> &>,6&
E%,5;(?&.,>=F%(&%&E?>?&>,&F?E9(?E$5?&5?F$%63&5,(#$F$?&%&6%&F?E=:$>%>&Y&
H?(E%(&F$=>%>%:?5&F=6;?5&%6&5,(#$F$?&>,&=:&9(?Y,F;?&>,&:%F$P:&Y&,H,F;=%(&=:&
;(%A%X?&>$*:?3&*(%;$H$F%:;,&,&$:;,6,F;=%67T&D?Y&,5;%&,:&F=,5;$P:&,5&%l,X%&Y&6?&
@=,&5,&96%:;,%:&6%&:=,#%&(%F$?:%6$>%>&9(?H,5$?:%6$J%:;,&,5&D%F,(&>,&6%&6%A?(&
>?F,:;,&=:%&6%A?(&;RF:$F%&F?:&A%5,&,:&=:&F?:X=:;?&>,&%FF$?:,5&9(WF;$F%53&
H%F$6$;%>?(%5 & >, & =: & F?:?F$E$,:;? & >, & F%(WF;,( & $:5;(=E,:;%6L& K, & >% & %5" & =:%&
(=9;=(%&F?:&,6&#$,X?&%:D,6?&>,&*,:,(%(&%EA$,:;,5&>,&%9(,:>$J%X,&Y&5,&>%&
6=*%( & % & 6% & %F;=%6 & 9(,5$P: & >, & 6% & $:;,(:%F$?:%6$J%F$P: & >,6 & E,(F%>? & Y & 6%&
*6?A%6$J%F$P:&>,&H?(E%(&;RF:$F?5&>,&6%&$:H?(E%F$P:&Y&:?&F$=>%>%:?5&F=6;?5&Y&
F?E9(?E,;$>?5&F?:&5=&5?F$,>%>L
.;<;D>;?'A<;=C?8&9(?H,5$?:%6$J%F$P:&>?F,:;,3&9(?F,5?5&>,&A=(?F(%;$J%F$P:L
E?:;,(?;$(UY%D??LF?ELEN
M*'2-%3&62*45-'"(32*)6G*'"'*'#3*'6&703Z&26*'&-'.!-2"##-'
("'"&#6&-'f'*.!"&(6E*:"%NK
r$?E%(%&V%A(,(%&),(:W:>,J&&.1:$#,(5$>%>,&`V%(6?5&Z%H%,6&Z?>("*=,Ja3&V=A%7
Z?*,6$?&[,E,;($?&2PE,J&/59$:?5%&&.1:$#,(5$>%>,&`V%(6?5&Z%H%,6&Z?>("*=,Ja3&
V=A%7
_&;(%A%6D?&@=,&5,&%9(,5,:;%&;,E&F?E?&S";=6?&M8&F?E=:$F%BG?&,>=F%;$#%&,&%&
5=% & $:H6=O:F$% & :? & 9(?F,55? & >, & ,:5$:? & - & %9(,:>$J%*,EaL & b? & 9(?F,55? & >,&
,:5$:?<%9(,>$J%*,E&?:>,&?&?AX,F;$#?&H=:>%E,:;%6&R&%&H?(E%BG?&>,&D?E,:5&
? & ,6? & >, & 6$*%BG? & ?= & H?:;, & >, & ;(%:5E$55G? & >, & F?:D,F$E,:;?5 & R & %&
F?E=:$F%BG? & ,:;(, & 9(?H,55?(, & , & %6=:? & $E96$F% & =E% & %;,:BG? & ,59,F$%6L & 8&
H?(E%&F?E?&R&H,$;%&%&$:;,(%FBG?&F?E=:$F%;$#% &,:;(,&9(?H,55?(,5&<&%6=:?53&
%6=:? & < & %6=:?T & %5 & F?:>$BC,5 & >, & ;(%A%6D?3 & >,5$*:%>%E,:;,3 & 5, & F%=5%E&
$E9%F;?&?=&,N,(F,&%6*=E%&$:H6=O:F$%&:?&>,5,:#?6#$E,:;?&>%&F?E=:$F%BG?&
,>=F%;$#%L' _ & ?AX,F;$#? & R & >,;,(E$:%( & ?5 & H%F;?(,5 & @=, & $:H6=,:F$%E & ?&
>,5,:#?6#$E,:;?&>%&F?E=:$F%BG?&,>=F%;$#%3&,&?&5,=&$E9%F;?&:?&9(?F,55?&
>,&,:5$:?&<&%9(,:>$J%*,E&F?E&#$5;%&%&F?:;($A=$(&9%(%&%&E,6D?($%&>%&(,6%BG?&
9,>%*P*$F%L&8&$E9?(;]:F$%&,&#$%A$6$>%>,&>?&;,E%&9%(;$=&>?&9($:F"9$?&>,&@=,3&
%6RE & >, & 9(?9?(F$?:%( & $:ME,(?5 & ,59%B?5 & 9%(% & ?A;,:BG? & >, & >%>?5 & >,&
$:#,5;$*%BG?3&9,(E$;,&?&H?(:,F$E,:;?&>,&(,5=6;%>?5&;,EW;$F?5&>?5&H%F;?(,5&
@=, & $:H6=,:F$%E & 9?5$;$#% & , & :,*%;$#%E,:;, & :? & >,5,:#?6#$E,:;? & >%&
F?E=:$F%BG?&,:;(,&9(?H,55?(,5&,&%6=:?5L&?&9(?F,55?&>,&F?E=:$F%BG?&H%J&>?&
D?E,E & =E & 5,( & >$:]E$F? & , & ,E & F?:5;%:;, & E?#$E,:;?L & 8 & 5=% & $:5,(BG? & :?&
E,$?&5?F$%63&A,E&F?E?&%&9%(;$F$9%BG?&%F;$#%3&R&5=5;,:;%>%3&9,6%5&(,6%BC,5&
(,F"9(?F%5 & ,:;(, & ? & E,$?3 & ?:>, & % & F?E=:$F%BG? & F?:5;$;=$ & 5=5;,:;WF=6? & >,&
A%5,L&F?E=:$F%BG?&R&=E&>?5&E%$5&$E9?(;%:;,5&$:;,(#,:;?(,5&?=&#,"F=6?5&:?&
9(?F,55? & >, & ,#?6=BG? & >% & ,59RF$, & D=E%:%L & K, & :G? & ,N$5;O:F$% & R & #$5"#,6 & %&
9%(;$( & >? & F?:D,F$E,:;? & >?5 & ?=;(?53 & , & 5P & F?:5,*=$E?5 & %9,(F,A,( & @=,E&
5?E?53 & ?:>, & ,5;%E?53 & ?:>, & #%E?5 & , & ?:>, & #$#,E?5 & %;(%#R5 & >? & F?:;%F;?&
F?E&?&E,$?&@=,&:?5&(?>,$%
.;<;=>;? ' AB;=C?8 'V?E=:$F%BG? & />=F%;$#%< & Z,6%BG? & Q,>%*P*$F%<&
[,5,:#?6#$E,:;?&I=E%:?L
NF%A(,(%U=FHL,>=LF=
(*?E,JU=FHL,>=LF=
:"#)5-'(*'"(32*45-'6&7*&)60'"')!*+*01-'(-2"&)"8'*'G62"@
(6!"45-'(*#'3&6(*("#'%3&626.*6#'("'"(32*45-'6&7*&)60'
[3%"6?\'("'+"0-'1-!6E-&)"
'R(F$%&>,&)$*=,$(,>?&b?(?:D%&Q$:;?&.1)'23&4(%5$67
_&%(;$*?&>$5F=;,&5?A(,&%&H=:BG?&>,&#$F,<>$(,;?(&>%5&1:$>%>,5&'=:$F$9%$5&>,&
/>=F%BG?&e:H%:;$6&.1'/e57&:?&F?:;,N;?&>,&%E96$%BG&?&>%&,>=F%BG?&$:H%:;$6&
9MA6$F%&,E&4,6?&I?($J?:;,L&Q?(&E,$?&>%&%:W6$5,&>,&>?F=E,:;?5&,&>,&>%>?5&
F?6,;%>?5 & X=:;? & ^ & K,F(,;%($% & '=:$F$9%6 & >, & />=F%BG? & >, & 4,6? & I?($J?:;,&
.K'/[7&,&%?5&#$F,<>$(,;?(,53&A=5F%<5,3&%$:>%&@=,&F?E&6$E$;%BC,53&6,#%:;%(&
,6,E,:;?5&5?A(,&?&9,(H$6&9(?H$55$?:%6&,&5?F$?>,E?*(WH$F?3&A,E&F?E?&5?A(,&
%5&F?:>$BC,5&>,&;(%A%6D?&>,55,5&9(?H$55$?:%$53&:?&@=,&>$J&(,59,$;?&^&H?(E%&
F?E? & 5, & ?(*%:$J% & ? & 9(?F,55? & >, & ;(%A%6D? & >?F,:;,L & S(%;%<5, & >,&
F?:5$>,(%BC,5&$:$F$%$5&@=,&9(,;,:>,E&F?:;($A=$(&9%(%&?&>,5,:#?6#$E,:;?&>,&
H=;=(%5 & $:#,5;$*%BC,5 & 5?A(, & ? & ;(%A%6D? & >?F,:;, & , & % & *,5;G? & >% & ,>=F%BG?&
$:H%:;$6&9MA6$F%&:?&E=:$F"9$?L
.;<;=>;?@AB;=Cc & 2,5;G? & >% & ,>=F%BG? & $:H%:;$6L & S(%A%6D? & >?F,:;,L & 4,6?&
I?($J?:;,L
E,(F$%L:?(?:D%U;,((%LF?ELA(
&-G*#'!":30*49"#'(*#'.-0O)62*#'"(32*26F&*6#'"'*',-!&*(*'
("')!*+*01-'("'.!-7"##-!"#'("'%*)"%I)62*'"%'"#2-0*#'
.$+062*#'2*)*!6&"&#"#
'W(F$?&\?5R&>%&K$6#,$(%&'%FD%>?&.1beK1!3&4(%5$67
_&,5;=>?&?AX,;$#?=&F?E9(,,:>,(&%&X?(:%>%&>,&;(%A%6D?&>,&9(?H,55?(,5&>,&
E%;,EW;$F%&,E&,5F?6%5&9MA6$F%5&F%;%($:,:5,5L&_9;%E?5&9?(&=E%&
%A?(>%*,E&>,&9,5@=$5%&@=%6$;%;$#%&@=,&5,&%9(?N$E%&>,&=E&,5;=>?&>,&F%5?L&
8&,:;(,#$5;%&5,&F?:5;$;=$=&:?&9($:F$9%6&$:5;(=E,:;?&>,&F?6,;%&>,&>%>?5L&
)?(%E&,:;(,#$5;%>?5&5,;,&9(?H,55?(,5&>,&@=%;(?&E=:$F"9$?5&F%;%($:,:5,5L&8&
%:W6$5,&>%5&,:;(,#$5;%5&H?$&?($,:;%>%&9?(&>?$5&,$N?5&>$5;$:;?53&9?(RE&
%(;$F=6%>?5L&_&9($E,$(?&(,H6,;,&%5&F?:>$BC,5&:%5&@=%$5&?&;(%A%6D?&>?F,:;,&R&
(,%6$J%>?L&_&5,*=:>?&;(%J&%5&(,9,(F=55C,5&>,5;%5&F?:>$BC,5&5?A(,&?&
;(%A%6D?&9,>%*P*$F?L&V?E&,55,&H?F?&;(O5&F%;,*?($%5&>,&%:W6$5,&,E,(*$(%Ec&
V?:>$BC,5&>,&S(%A%6D?T&/N;,:5G?&>%&\?(:%>%&>,&S(%A%6D?&,&e:;,:5$H$F%BG?&>?&
S(%A%6D?L&_&,5;=>?&5=*,(,&@=,&%&,N9%:5G?&@=%:;$;%;$#%&>%&,>=F%BG?&AW5$F%&
$E9%F;?=&5?A(,E%:,$(%&9(?H,55?(,5&>,&E%;,EW;$F%&@=,&:G?&>$59C,E&>%5&
F?:>$BC,5&?AX,;$#%5&9%(%&>%(&F?:;%&>%5&$:ME,(%5&>,E%:>%5&@=,&FD,*%E&%5&
,5F?6%5L&V?E?&F?:5,@nO:F$%&%&X?(:%>%&>,&;(%A%6D?&>,&9(?H,55?(,53&
E%;,($%6$J%>%&,E&,5F?6%5&9MA6$F%5&F%;%($:,:5,53&H?$&%E96$%>%&,3&5?A(,;=>?3&
$:;,:5$H$F%>%L
.;<;=>;'AB;=C8&;(%A%6D?&>?F,:;,3&X?(:%>%&>,&;(%A%6D?&,&$:;,:5$H$F%BG?L
E%(F$?{(,{%UY%D??LF?ELA(
.!-,")-'("'"#)O%30-'e'(-2Z&26*'f'"&#6&-'("'16#)F!6*'
*)!*G_#'("'23!)*#'%")!*:"&#8'-'23!)*'M1-!)-'+-)r&62-8'
16#)F!6*J'26Z&26*'"'G6(*N
S%=G:%&S,((%&V?(>,$(?&.1)_Q3&4(%5$67
_&;(%A%6D? &%&5,(&%9(,5,:;%>?&H?$ &9(?>=J$>?&%&9%(;$(&>%&>$5F=55G? &5?A(, &%&
:,F,55$>%>,&>%&H?(E%BG?&9,>%*P*$F%&>?&>$5F,:;,&>,&I$5;P($%&:?5&F=(5?5&>,&
6$F,:F$%;=(%0A%FD%(,6%>? & >% & 1:$#,(5$>%>, & ),>,(%6 & >, & _=(? & Q(,;? & .'$:%5&
2,(%$5 &!& 0&4(%5$67L&8&,N9,($O:F$%&%&9%(;$(&>?&Q(?X,;?&>,&/5;"E=6?&^&[?FO:F$%&
.Q/[<1)_Q7&-&@=,&:G?&>,$N%&>,&5,(&=E%&(,59?5;%&%&,55,5&@=,5;$?:%E,:;?5&-&
#,E&>%&:,F,55$>%>, &>%&F($%BG? &>,&E,F%:$5E?5 &>,:;(?&>%5&=:$#,(5$>%>,5&
@=,&;,:;%E&5%:%(&,55%&>,H$F$O:F$%&>%&H?(E%BG?&9,>%*P*$F%&,&#$5%&H?E,:;%(&
:?&,5;=>%:;,&>,&6$F,:F$%;=(%&,E&I$5;P($%&>%&1)_Q&?&,5;"E=6?&^&>?FO:F$%&,&%&
$E9?(;]:F$%&>%&H?(E%BG?&9,>%*P*$F%&:?&;(%A%6D?&F?E?&9(?H,55?(L&/E&E%(B?&
>, & ijjt3 & $:$F$%(%E<5, & %5 & %;$#$>%>,5 & >? & Q(?X,;? & `/:5$:? & >, & I$5;P($% & ,&
e>,:;$>%>,5 & !?F%$5a3 & #$:F=6%>? & %? & Q/[ & :% & 1:$#,(5$>%>, & ),>,(%6 & >, & _=(?&
Q(,;?L & _ & Q/[<1)_Q3 & F?E & %9?$? & H$:%:F,$(? & >% & V%9,53 & H?$ & H?(E=6%>? & F?E?&
,5;(%;R*$% & >, & @=%6$H$F%BG? & >% & H?(E%BG? & 9,>%*P*$F% & >?5 & 6$F,:F$%:>?53&
#$5%:>? & H?E,:;%( & :? & ,5;=>%:;, & >, & I$5;P($% & % & F?:5F$O:F$% & >% & $E9?(;]:F$%&
F=6;=(%6 & , & 5?F$?9?6";$F% & >% & %;$#$>%>, & >?F,:;,3 & A,E & F?E? & >, & 5=% & 9?55"#,6&
F?:5$5;O:F$%&;,P($F%&,&>$>W;$F%L&_&>$H,(,:F$%6&>?&9(?X,;?&H?$&5=%&E,;?>?6?*$%c&
/:5$:?&>,&I$5;P($%&%;(%#R5&>,&F=(;%5<E,;(%*,:53&F?:5$>,(%:>?&?5&9(P9($?5&
%6=:?5&>?&/:5$:?&4W5$F?&-&%;(%#R5&>%&?($,:;%BG?&>?5&A?65$5;%5&>?&9(?X,;?&-&
9(?>=;?(,5&>,5;,&5%A,(&D$5;P($F?L
.;<;=>;'2B;=C8'H?(E%BG?&9,>%*P*$F%3&;(%A%6D?&>?F,:;,L
;%=%:%;,((%UY%D??LF?ELA(
73&(*%"&)-#'("0'%-("0-'23!!6230*!'6&)":!*0'b'
2-%.!-%6#-#'("0')!*+*,-'(-2"&)"
!?=(>,5&S,(,5%&V=,#%5&Z%E"(,J&.&18/I3&'RN$F?7
'%("%&>,6&V%(E,:&8F?5;%&8*$55&.18/I3&'RN$F?7
2(%:>,5 & >,5%H"?5 & 96%:;,%>?5 & ,: & 6%5 & 9?6";$F%5 & ,>=F%;$#%5 & :%F$?:%6,5 & ,&
$:;,(:%F$?:%6,5 & ,5;W: & $E9%F;%:>? & 9(?H=:>%E,:;, & % & 6%5 & e:5;$;=F$?:,5 & >,&
/>=F%F$P: & K=9,($?(3 & ,5;%5 & 5, & %X=5;%: & 9%(% & E%:;,:,( & 5= & #$*,:F$% & F?E?&
$:5;$;=F$?:,5 & 5?F$%6,5 & (,>,H$:$,:>? & 6%5 & H?(E%5 & >, & F?:5;(=$( & Y & %FF,>,( & %6&
F?:?F$E$,:;?L&!%&1:$#,(5$>%>&8=;P:?E%&>,6&/5;%>?&>,&I$>%6*?3&(,>,H$:,&5=&
H$:%6$>%> & F=6;=(%6 & Y & F$,:;"H$F% & % & ;(%#R5 & >, & 5= & '?>,6? & />=F%;$#?L & Q%(%&
H=:>%E,:;%(&6%&(,H?(E%&>,6&:$#,6&6$F,:F$%;=(%&$:$F$%>%&,:&6%&18/I&,:&,6&%l?&
ijjo3&5,&F?:5;(=Y,&>,&H?(E%&F?6,*$%>%&,6&'?>,6?&V=(($F=6%(&e:;,*(%63&F=Y?&
?AX,;$#?&*,:,(%6&,5&,6&>,&,5;%A6,F,(&6?5&(,H,(,:;,5&;,P($F?5&Y&E,;?>?6P*$F?5&
9%(%&6%&?9,(%;$#$>%>&>,6&'?>,6?&/>=F%;$#?&>,&6%&18/IL&/6&9(,5,:;,&;(%A%X?&
F?E9%(;, & >,6 & '?>,6? & V=(($F=6%( & e:;,*(%6 & >, & 6% & 18/I3 & 6% & >$E,:5$P:&
95$F?9,>%*P*$F%3 & ,: & 6% & @=, & 5, & F?E9(?E,;, & %6 & >?F,:;, & % & 5=5;,:;%( & 5=&
9(%F;$F%&,:&6%5&;,?("%5&E,>$%F$?:%6,5&F?:&=:&,:H?@=,&F?:5;(=F;$#$5;%&Y&=:%&
,:5,l%:J%&@=,&$:F?(9?(%&6%5&F?E9,;,:F$%5&F?E?&>$59?5$;$#?&9,>%*P*$F?T&,6&
'?>,6? & A=5F% & =:% & H?(E%F$P: & $:;,*(%6 & 5=5;,:;%>? & ,: & 6% & H6,N$A$6$>%> & ,: & ,6&
F=(("F=6=E&@=,&9?;,:F$,&6%&E?#$6$>%>&,:&6?5&WEA$;?5&=:$#,(5$;%($?3&5?F$%6&Y&
9(?H,5$?:%6L&Q%FD=F%3&I$>%6*?&E%Y?&>,&ijmj&
.;<;D>;?'A<;=C8&H?(E%F$P:&$:;,*(%63&F=(("F=6=E&H6,N$A6,&Y&F?E9,;,:F$%5L
&;F=,#%5U=%,DL,>=LEN
EF%%*$55UY%D??LF?ELEN
.!-76##6-&*06E*45-'(-2"&)"8'*#."2)-#'(-')-!&*!@#"'
.!-7"##-!'2-%'7-!%*45-'#)!62)-'#"&#3'&*'"(32*45-'
+I#62*
…W;$%&8=*=5;%&V=(%>?&Q$:D,$(?&V?(>,$(?&>%&K$6#%&.1:43&4(%5$67
' /5;, & %(;$*? &%A?(>% & ?5& >%>?5 &>%& $:#,5;$*%BG? & @=, & ;,#, & F?E? & &;,E% &c& `%&
9,5@=$5% & >? & 9(?H,55?( & >% & ,>=F%BG? & AW5$F% & ,E & 2?$]:$%aL && S,:>? & F?E?&
(,H,(O:F$%&?5&9(?H,55?(,5&F?E&H?(E%BG? &5;($F;?&5,:5=& @=,&%;=%E&:%&(,>,&
9MA6$F%&,E&2?$]:$%3&(,%6$J%E?5&,:;(,&ijjk&,&ijjv&?&,5;=>?&A$A6$?*(WH$F?&,&
,E9"($F?L&V?E?&E,;?>?6?*$%&=;$6$J%E?5&@=,5;$?:W($?53&5,:>?&@=,&H?(%E&mhj&
,:;(,*=,5&,&tm&>,#?6#$>?5&-&,&,:;(,#$5;%5&F?E&;($:;%&.hj7&9(?H,55?(,5&F?E&
H?(E%BG?&5;($F;?&5,:5=&>%&(,>,&9MA6$F%&>,&/>=F%BG?&,E&2?$W5L&8&%:W6$5,&>?&
E%;,($%6&;,#,&F?E?&5=A5">$?&E,;?>?6P*$F?&?&E%;,($%6$5E?&D$5;P($F?&>$%6R;$F?&
?&@=,&:?5&9,(E$;$=&%&F?:5;(=BG?&>?&,$N?&;,EW;$F?&%A?(>%>?&:,5;,&%(;$*?c&%&
9(?H$55$?:%6$J%BG?&>?F,:;,&>?&9(?H,55?(&>,&,>=F%BG?&AW5$F%&F?E&H?(E%BG?&
5;($F;?&5,:5=L&&
.;<;=>;?@AB;=C?c&)?(E%BG?&5;($F;?&5,:5=3&9(?H$55$?:%6$J%BG?&,&;(%A%6D?&
>?F,:;,L
{%;$%F=(%>?U=:ALA(
.-0O)62*#'"(32*)6G*#'"')!*+*01-'(-2"&)"'&*'7-!%*45-'
.!-76##6-&*0'("'&OG"0'%_(6-8'3%'"#)3(-'("'2*#-'"%'+"0_%@
.*
&+,(p:$F%&!$E%&V%(:,$(?&.1)Q83&4(%5$67
V%(6?5&\?5R&>,&',6?&'?(,$(%&.1/Q83&4(%5$67
_ & 9(,5,:;, & ;(%A%6D? & ?AX,;$#% & F?E9(,,:>,(3 & F?E & A%5, & :%5 & 9?6";$F%5&
,>=F%;$#%5&$E96,E,:;%>%5&%&9%(;$(&>%&>RF%>%&>,&mttj3&F?E?&#,E&5,&>%:>?&
?&;(%A%6D?&>?F,:;,&:%&H?(E%BG?&9(?H$55$?:%6&;RF:$F%&>,&:"#,6&ER>$?L&_&H?F?&
>% & $:#,5;$*%BG? & F?:5$5;, & :% & %:W6$5, & >% & %;=%BG? & 9(?H$55$?:%6 & >?F,:;, & :?&
V=(5?&SRF:$F?&,E&'%:=;,:BG?&>,&',F]:$F%&8=;?E?;$#%&>?&K/b8e<Q8L&S(%;%<
5,&>,&=E&,5;=>?&>,&F%5?3&:?&@=%6&H?(%E&=;$6$J%>?53&9%(%&F?6,;%&>,&>%>?53&%&
%:W6$5,&>?F=E,:;%6&,&%&,:;(,#$5;%&5,E$<,5;(=;=(%>%L&8&%:W6$5,&>?5&>%>?5&H?$&
(,%6$J%>% & F?E & H=6F(? & ,E & ;,P($F?5 & F?E? & )($*?;;? & .mttv73 & …=,:J,( & .ijji73&
Z%E?5&.ijji73&_6$#,$(%&.ijjs73&>,:;(,&?=;(?53&F?E&A%5,&:?5&9(?F,>$E,:;?5&
>%&%:W6$5,&>,&F?:;,M>?L&8&9,5@=$5%&9?55$A$6$;?=&$>,:;$H$F%(&@=,&?&;(%A%6D?&
>?F,:;, & :? & K/b8e<Q8 & 9?55=$ & F?E? & (,H,(O:F$% & % & H?(E%BG? & 9%(% & ?&
,F?:?E$F$5E?3&,E9(,*%A$6$>%>,&,&F?E9,;$;$#$>%>,3&;,:>?&:%&9,>%*?*$%&>%5&
F?E9,;O:F$%5&5,=&:?(;,&>,&H?(E%BG?3&#?6;%>%&9%(%&=E&E,(F%>?&>,&;(%A%6D?&
F(,5F,:;,E,:;,&$:5;W#,6&,&H6,N"#,6L&V?:5;%;?=<5,&@=,&%5&(,F,:;,5&(,H?(E%5&
/>=F%F$P:%$5 & $E96,E,:;%>%5 & :? & F?:;,N;? & >? & :,?6$A,(%6$5E? & $:5;$;="(%E&
5$*:$H$F%;$#%5 & %6;,(%BC,5 & :? & ;(%A%6D? & >,55,5 & 9(?H$55$?:%$53 & 5=AE,;,:>?<?5&
%?5 & >$;%E,5 & >? & F%9$;%63 & 5,:>? & =(*,:;,3 & 9?(;%:;?3 & @=, & 5, & (,5*%;, & %&
$E9?(;]:F$%&>?&9(?H$55$?:%6&>?F,:;,&F?E?&$:;,6,F;=%63&9%(%&%6RE&>?5&6$E$;,5&
>%&%;=%BG?&$:5;(=E,:;%6$J%>?(%&(,@=,($>%&9,6?&,E9(,5%($%>?L
.;<;=>;?@AB;=C8&Q?6";$F%5&/>=F%;$#%5&<&S(%A%6D?&[?F,:;,&<&)?(E%BG?&
Q(?H$55$?:%6
#,(F%(mgjoU*E%$6LF?E
F%(9,>H$6U*E%$6LF?E
6%.*2)-#'(-'&-G-':"!"&26*06#%-'&*#'.-0O)62*#'.*!*'-'
"&#6&-'#3."!6-!
'%($%&8=N$6$%>?(%&'?:;,$(?&_6$#,$(%'.Q1V'eb8K3&4(%5$67
\=55%(%&4=,:?&>,&w=,$(?J&Q%5FD?%6$:?&.Q(,H,$;=(%&'=:$F$9%6&>,&4,6?&
I?($J?:;,3&4(%5$67
/5;, & ;(%A%6D? & ,5;W & F,:;(%>? & :%5 & Q?6";$F%5 & 9%(% & ? & /:5$:? & K=9,($?( & @=,3 & :%&
%;=%6$>%>,3 & 5, & %9(,5,:;%E & F?E? & :,?6$A,(%$5 & , & *6?A%6$J%:;,5 & ,3 & :,5;%&
9,(59,F;$#%3&9%55%E&%&%;,:>,(3&^&9(,E$55%&>,&9($?($J%BG?&>?&A$:pE$?&F=5;?<
A,:,H"F$? & ,3 & ;%EARE & % & =E & 9(?F,55? & >, & 9%>(?:$J%BG? & >? & ,:5$:?3 & @=,&
>,5F?:5$>,(% & ?5 & F?:;,N;?5 & D$5;P($F?53 & F=6;=(%$53 & 9?6";$F?5 & , & 5PF$?<
/>=F%F$P:%$5L&b,5;,&F,:W($?3&%&=:$#,(5$>%>,3&%:;,($?(E,:;,&F?:F,A$>%&F?E?&
=E% & $:5;$;=$BG? & 5?F$%63 & 6PF=5 & >% & H?(E%BG? & >, & F$>%>G?5 & , & >, & 9(?H$55$?:%$5&
F?E9,;,:;,5&,&R;$F?53&5,&;(%:5H?(E%&,E&=E%&?(*%:$J%BG?3&#?6;%>%&9%(%&?&
E,(F%>?3 & #$5%:>? & ^ & ?A;,:BG? & >, & 6=F(?5 & F(,5F,:;,5L & 855$5;,<5,3&
9%(%6,6%E,:;,3&^&9,(>%&>%&%=;?:?E$%&>?F,:;,&@=,&#,E&5,:>?&$E9%F;%>%&
9,6%5&9?6";$F%5&/>=F%F$P:%$53&>,&=E&E?>?&>$55$E=6%>?&,&5=;$63&%&%>?BG?&>?&
>,:?E$:%>?&:?#?&*,(,:F$%6$5E?3&@=,&#,$F=6%0>,;,(E$:%&%BC,5&@=,&6$E$;%E&
%&F($%;$#$>%>,&,&%&6$A,(>%>,&>?5&9(?H,55?(,5L&855$E3&%&9(?H$55$?:%6$J%BG?&>?5&
>?F,:;,53 & ,E & ,59,F$%6 & >? & ,:5$:? & 5=9,($?(3 & 5, & #O & %E,%B%>%3 & ;%:;? & 9,6%5&
F?:>$BC,5&5%6%($%$5&,&>,&;(%A%6D?3&@=%:;?&9,6%&;(%:5H?(E%BG?&>%&,>=F%BG?&
,E&E,(F%>?($%L&)$:%6E,:;,3&,55,&9(?F,55?&#,E&6,#%:>?&^&$:;,:5$H$F%BG?&>?&
;(%A%6D? & , & % & =E & 5,:;$E,:;? & >, & qE%6 & ,5;%(a & >?F,:;,3 & @=, & 5, & ;(%>=J & :?&
%9%(,F$E,:;?&>,&5":>(?E,5&>,&,;$?6?*$%5&#%($%>%5&@=,&;OE&%H,;%>?&%5&#$>%5&
9,55?%6&,&9(?H$55$?:%6&>,55,5&5=X,$;?5L
.;<;=>;? ' AB;=Cc & Q?6";$F%5 & 9%(% & ,:5$:? & 5=9,($?( & - & b?#? & *,(,:F$%6$5E? & -&
;(%A%6D?&>?F,:;,L
>?($:D%9=FUD?;E%$6LF?E
X=55%(%9%5FD?%6$:?UY%D??LF?ELA(
!"3&68'.*##*.-!)"'.*!*'*'6&)"&#6762*45-'(-')!*+*01-'
(-2"&)"Q
!=F$,:,&',>,$(?5&.1)Q83&4(%5$67
_ & %(;$*? & >$5F=;, & ? & Q(?*(%E% & >, & 89?$? & % & Q6%:?5 & >, & Z,,5;(=;=(%BG? & ,&
/N9%:5G?&>%5&1:$#,(5$>%>,5&),>,(%$5<&Z/1be3&F($%>?&9,6?&[,F(,;?&b•&kLjtk&
>,&ig&>,&%A($6&>,&ijjo&F?E&$E96%:;%BG?&:%5&=:$#,(5$>%>,5&9MA6$F%5&H,>,(%$5&
,E & ijjv3 & E,>$%:;, & %55$:%;=(% & >, & =E & 8F?(>? & >, & ',;%5 & ,:;(, & Z,$;?(,5 & ,&
'$:$5;R($? & >, & />=F%BG? & ? & @=, & F%(%F;,($J?= & % & %>,5G? & >% & =:$#,(5$>%>, & %?&
Q(?*(%E%L&ƒ&=E%&(,*=6%BG?&>%&9?6";$F%&>,&,N9%:5G?&>%&,>=F%BG?&5=9,($?(&,&
9%(;,&$:;,*(%:;,&>?&Q6%:?&>,&[,5,:#?6#$E,:;?&>%&/>=F%BG?&-&Q[/3&$:5;$;=">?&
9,6? & 2?#,(:? & !=6% & >% & K$6#% & ,E & 5,= & 5,*=:>? & E%:>%;?3 & .ijjo<ijmj7L & 85&
9($E,$(%5 & %#%6$%BC,5 & %9?:;%E & @=, & ? & Z/1be & $:;,*(% & ? & F?:X=:;? & >,&
,5;(%;R*$%5 & >? & *?#,(:? & A(%5$6,$(? & 9%(% & >%( & F?:;$:=$>%>, & ^ & (,H?(E% & >%&
,>=F%BG?&5=9,($?(&$:$F$%>%&:?&*?#,(:?&>,&)IV&,E&mtts3&%6RE&>,&(,59?:>,(&
^5 & ?($,:;%BC,5 & >?5 & _(*%:$5E?5 & e:;,(:%F$?:%$5L & V?:;($A=$ & F?E & ?&
%9(?H=:>%E,:;? & >% & =:$#,(5$>%>, & D,;,(p:?E% & , & 9?>,(W & 5,( & ? & 9%55%9?(;,&
9%(% & % & $:;,:5$H$F%BG? & >? & ;(%A%6D? & >?F,:;,L & K=%5 & E,;% & 5 & 5G? & % & ?H,(;% & >,&
,>=F%BG?&5=9,($?(&9%(%3&9,6?&E,:?53&hj†&>?5&X?#,:5&:%&H%$N%&,;W($%&>,&mv&%&
ig & %:?5T & ,6,#%BG? & >% & ;%N% & >, & F?:F6=5G? & >?5 & F=(5?5 & >, & *(%>=%BG?&
9(,5,:F$%$5&9%(%&tj†T&%E96$%BG?&>%&(,6%BG?&>,&m&9(?H,55?(&9%(%&mv&%6=:?5L&
8&6$A,(%BG?&>?5&(,F=(5?5&R&F?:>$F$?:%>%&%?&F=E9($E,:;?&>%5&E,;%5&9,6%5&
=:$#,(5$>%>,5L&
.;<;=>;?'AB;=C8&/N9%:5G?3&Z/1be3&S(%A%6D?&[?F,:;,L
6=F$,:,EEU?$LF?ELA(
-'(6#23!#-'(*#'.-0O)62*#'"(32*26F&*6#'+!*#60"6!*#'"'*'
7-!%*45-'("'.!-7"##-!"#8'-'#3.-#)-'*G*&4/6$J%A,;D&',:,J,5&S,$N,$(%&!,D,(&.1)Z\3&4(%5$67
26%=F$%&V%E9?5&2=$E%(G,5&.1/Z\3&4(%5$67
!$*$%&…%(%E&V?((O%&>,&'%*%6DG,5&.1)Z\3&4(%5$67
b,5;, & ;(%A%6D? & ,N%E$:%E?5 & % & 9W*$:% & $:$F$%6 & >? & 5$;, & >? & '$:$5;R($? & >%&
/>=F%BG? & .'/V7 & , & 5,=5 & 6$:{5 & #?6;%>?5 & 9%(% & ? & ,5;"E=6? & %? & $:*(,55? & :%&
F%((,$(%&>?F,:;,&,&H?(E%BG?&$:$F$%6&,&F?:;$:=%>%&>,&9(?H,55?(,53&,&E&5=%&
F?E9?5$BG?&F?E&?&>$5F=(5?&>%5&H?(E=6%BC,5&>%5&9?6";$F%5&/>=F%F$P:%$5&,&%5&
(,F?E,:>%BC,5 & >?5 & _(*%:$5E?5 & e:;,(:%F$?:%$5L & _ & ,5;=>? & R & F?E9?5;? & >,&
;(O5&9%(;,5c&:%&9($E,$(%3&(,6%F$?:%E?5&?&F?:;,N;?&D$5;P($F?&^5&F?:>$BC,5&>,&
9(?>=BG?&>?5&>$5F=(5?5&>?&'/V3&,&,E&5,*=$>%3&$:#,5;$*%E?5&%5&,5;(%;R*$%5&
>,&;,F:?6?*$J%BG?&>,&5,=5&>$5F=(5?5L&/E&=E&,5H?(B?&>,&5":;,5,&>,H,:>,E?5&
% & ;,5, & >, & @=, & %#%:B%( & :,55% & ;(%X,;P($% & >, & `$:F,:;$#?a & , & >, & H?(E%BG? & :%&
F%((,$(%&>?F,:;,&:?5&E?6>,5&%;=%$5&>%5&9?6";$F%5&>,&H?(E%BG?&>,&9(?H,55?(,5&
9?>, & (,9(,5,:;%( & =E & (,;(?F,55?3 & =E & (,H?(B? & %? & 9(,55=9?5;? & >%&
$:F?E9,;O:F$%&>?F,:;,&,&^&F(,:B%&>,&@=,&,5;,5&9(?*(%E%5&9?>,E&@=%6$H$F%(&
?5&9(?H,55?(,5L&
.;<;=>;?@AB;=Cc & H?(E%BG? & >, & 9(?H,55?(,53 & 9?6";$F%5 & />=F%F$P:%$53&
;,F:?6?*$%5&>%&$:H?(E%BG?&,&F?E=:$F%BG?L
,6,D,(U*E%$6LF?E
*6%=*=$E%(%,5ihU*E%$6LF?E
6$*$%{%(%EU*E%$6LF?E
*'2-&(645-'(-')!*+*01-'(-2"&)"'&-'"#.O!6)-'#*&)/6$J%&4%(;?6?JJ$&),((,$(%&.1)/K3&4(%5$67
K$6#%:%&+,:;?($E&.1)/K3&4(%5$67
+%6>,;,&VpF?&.1)/K3&4(%5$67
/5;,&;,N;?&?AX,;$#%&F?:;($A=$(&F?E&?&>,A%;,&%&(,59,$;?&>%5&;(%:5H?(E%BC,5&
?9,(%>%5&:%5&F?:>$BC,5&>,&;(%A%6D?&>?5&>?F,:;,5&%9P5&%&>RF%>%&>,&mttj&
:%&8ER($F%&!%;$:%L&85&(,H?(E%5&,>=F%;$#%5&,&5?F$%$5&,E&F=(5?&>,5>,&?&H$:%6&
>?&5RF=6?&rr&;$#,(%E&,H,$;?5&:%&?(*%:$J%BG?&>%5&$:5;$;=$BC,5&>,&,>=F%BG?&
AW5$F%&(,#,6%>%5&9,6%5&:?#%5&5$;=%BC,5&%>E$:$5;(%;$#%53&9,>%*P*$F%5&,&>,&
?(>,E&H$:%:F,$(%3&%5&@=%$5&$E96$F%(%E&:%&$:;,:5$H$F%BG?&>?&;(%A%6D?&>?F,:;,&
,&:?&>,5,:#?6#$E,:;?&>,&9(W;$F%5&@=,&(,5=6;%E&:%5&,5F?6%5&F?E?&,59%B?5&
>, & 5%;$5H%BG? & >%5 & :,F,55$>%>,5 & AW5$F%5 & >, & %6$E,:;%BG?3 & F=$>%>? & F?E & %&
D$*$,:,&,&>,&%9(,:>$J%*,E&>,&=E&:ME,(?&5$*:$H$F%;$#?&>,&F($%:B%53&X?#,:5&,&
%>=6;?5L & /59,F$H$F%E,:;,3 & ,5;, & ;(%A%6D? & ?AX,;$#% & ;(%B%( & =E% & %:W6$5, & >?5&
>%>?5 & >%5 & 9?6";$F%5 & ,>=F%;$#%5 & >? & ,5;%>? & >? & /59"($;? & K%:;?3 & 4(%5$63&
:?;%>%E,:;,&,E&@=,&,6%5&$E9%F;%(%E&:%&F%((,$(%3&5%6W($?3&H?(E%BG?&,&:%&
>$#$5G? & ;RF:$F% & >? & ;(%A%6D? & >?5 & >?F,:;,5L & 8 & O:H%5, & >? & ,5;=>? & 5, & 9C, & :%&
>,5F($BG? & %:%6";$F% & >?5 & ,6,E,:;?5 & *,(%$5 & F?:5;$;=$:;,5 & >% & 9?6";$F%&
/>=F%F$P:%6 & $E96%:;%>% & :? & H$:%6 & >? & 5RF=6? & rr & :? & 4(%5$6 & , & F?E? & 5,&
%9(,5,:;%E&%5&5$;=%BC,5&9%(;$F=6%(,5&>?&/59"($;?&K%:;?&:,55,&F?:;,N;?L
.;<;=>;'AB;=Cc&F?:>$BG?&>?F,:;,3&,>=F%BG?&AW5$F%L
,6$J%LA%(;?6?JJ$U*E%$6LF?E
5$6#,:;?($EUD?;E%$6LF?E
5$6#,:;?($EUD?;E%$6LF?E
*'(6G"!#6762*45-'(-')!*+*01-'(-2"&)"'&-'2-&)"H)-'("'
2-&#-06(*45-'(*',3G"&)3("'2-%-'#")-!'("'*)3*45-'(-'
"#)*(-
/#,6$:,&86*,A%$6,&.1/Z\3&4(%5$67
Q%=6%&+%(*,:5&.1/Z\3&4(%5$67
86$:,&'?(%,5&.1/Z\&,&e)Z\3&4(%5$67
/5;,&;(%A%6D?&%9(,5,:;%&@=,5;C,5&(,6%F$?:%>%5&^&>$#,(5$H$F%BG?&>?&;(%A%6D?&
>?F,:;, & $E96$F%>% & F?E & % & $:;,:5$H$F%BG? & >? & >,A%;, & 5?A(, & % & `@=,5;G? & >%&
X=#,:;=>,a&,&F?E&%&F?:5,@=,:;,&,E,(*O:F$%&>,&]EA$;?5&,59,F$%6$J%>?5&>,&
%BG?&,5;%;%6&(,H,($>?5&^&9?9=6%BG?&X?#,EL&Q%(;$E?5&>,&9,5@=$5%5&(,6%;$#%5&%&
;(O5&]EA$;?5&>,&%BG?&-&(,H,(,:;,5&%&X?#,:5&,E&5$;=%BG?&>,&(=%3&%&X?#,:5&F?E&
9(,FW($%&$:5,(BG?&,5F?6%(&:%&,;%9%&H=:>%E,:;%6&>,&,:5$:?3&,&^&,N9%:5G?&>%&
?H,(;%&>,&,>=F%BG?&9(?H$55$?:%6&>,&:"#,6&ER>$?&-&F=X%5&F?:H$*=(%BC,5&%;=%$53&
:? & 4(%5$63 & %9(,5,:;%E & (,6,#%:;,5 & $E96$F%BC,5 & F?E & % & ,E,(*O:F$% & >,55,&
>,A%;,3 & A,E & F?E? & $:,*W#,$5 & (,9,(F=55C,5 & :? & >,6$:,%E,:;? & >? & `;(%A%6D?&
>?F,:;,aL & V?:5$>,(%:>? & ?5 & :,N?5 & ,:;(, & %5 & E=>%:B%5 & 5?F$,;W($%53&
,F?:pE$F%5&,&9?6";$F%5&:%5&M6;$E%5&>RF%>%5&,&%&,E,(*O:F$%&>%&`@=,5;G?&>%&
X=#,:;=>,a3 & F%(%F;,($J%E?5 & ,55,5 & ]EA$;?5 & >, & %BG? & - & ,E & (,6%BG? & % & 5=%5&
H(?:;,$(%5 & ;,EW;$F%53 & 5=%5 & >,6$E$;%BC,5 & >, & 9MA6$F?5<%6#?3 & ?5 & H?(E%;?5&
?(*%:$J%F$?:%$5&>,&5=%5&$:5;$;=$BC,5&,&%BC,53&,&?5&F($;R($?5&>,&F?E9?5$BG?&,&
%;=%BG? & >?5 & F?(9 & ?5 & 9(?H$55$?:%$5 & - & >$5F=;$:>? & %5 & E=>%:B%5 & :,6,5&
?A5,(#%>%5 & >,#$>? & %? & 5,= & %;(%#,55%E,:;? & 9?( & >$59?5$BC,5 & , & E,>$>%5&
(,H,($>%5 & ^ & X=#,:;=>, & 9?A(,3 & >,5;%F%:>? & %5 & E=>%:B%5 & ?A5,(#%>%5 & :%5&
F?:>$BC,5&>,&(,%6$J%BG?&>?&;(%A%6D?&>,&9(?H$55$?:%$5&>%&,>=F%BG?&%;=%:;,5&
:,55,5&]EA$;?53&A,E&F?E?&:%&9(P9($%&F?E9?5$BG?&,&F?:H$*=(%BG?&>?&@=,&
9?>,("%E?53&:,55,&F?:;,N;?3&(,F?:D,F,(&F?E?&`;(%A%6D?&>?F,:;,aL
.;<;=>;'AB;=Cc&;(%A%6D?&>?F,:;,3&X=#,:;=>,3&,>=F%BG?&9(?H$55$?:%63&,:5$:?&
ER>$?L
,%6*,A%$6,U*E%$6LF?E
9%=6%#%(*,:5U*E%$6LF?E
6$:,E?(%,5U*E%$6LF?E
*'!":30*45-'&-'2*%.-'(*':"#)5-'"#2-0*!8'2-&G"!:Z&26*#'"'
)"&#9"#'&-'"#)*(-'(-'*2!"
!MF$%&>,&)W;$E%&',6?&.1)8V3&4(%5$67
89(,5,:;%&(,5=6;%>?&>,&9,5@=$5%&9%(F$%6&5?A(,&%&2,5;G?&>%&/5F?6%&:?&/5;%>?&
>?&8F(,L&[,5;%F%&%&,N9,($O:F$%&>%&Z,>,&QMA6$F%&%F($%:%&>,&,:5$:?&@=,&:?&
A?X? & >? & E?#$E,:;? & >, & (,H?(E%5 & />=F%F$P:%$5 & #$#,:F$%>%5 & 9,6? & /5;%>?&
A(%5$6,$(?3&%&9%(;$(&>%&5,*=:>%&E,;%>,&>%&>RF%>%&>,&mttj3&9(?9p5&=E%&:?#%&
*?#,(:%:B%&9%(%&%5&,5F?6%5&>%:>?&?($*,E&%&=E&bMF6,?&>,&2,5;G?&F?E9?5;?&
9,6?&[$(,;?(3&V??(>,:%>?(&>,&/:5$:?&,&V??(>,:%>?(&8>E$:$5;(%;$#?L&Q%(;,&>?&
,:;,:>$E,:;? & 9(,6$E$:%( & >, & @=, & ;%$5 & (,H?(E%5 & F%(%F;,($J%E<5, & 9?( & =E%&
:?#%&(,*=6%BG?&,>=F%;$#%&@=,&%?&5,(,E&$E96,E,:;%>%5&:?&F?:;,N;?&,5F?6%(&
%9?:;%E & $:>"F$?5 & >% & (,?(*%:$J%BG? & >%5 & %;$#$>%>,5 & >?5 & ;(%A%6D%>?(,5 & ,E&
,N,(F"F$?&:%5&,5F?6%5&9MA6$F%5&>,&,>=F%BG?&AW5$F%3&,N9(,55%&:?&%=E,:;?&>,&
(,59?:5%A$6$>%>,5&,&%E96$%BG?&>?&(%$?&>,&%;=%BG?&>?5&5=X,$;?5&@=,&;OE&:%&
,5F?6% & 5,= &6PF=5& >, & %BG?L & 85 & %:W6$5,5 & 9(,6$E$:%(,5 & >% & 9,5@=$5% & %9?:;%E&
%6*=E%5 & F?:#,(*O:F$%5 & , & ;,:5C,5 & :,55, & F%E9?c & ,E & =E & F,:W($?&
5=9?5;%E,:;,&`>,5H%#?(W#,6a&?&@=,&9?>,&;,(&(,5;%>?&%&,55%5&:?#%5&H=:BC,5&
%6RE & >, & `*,(,:F$%(a & % & $E96%:;%BG? & >%5 & (,H?(E%5f & /6%5 & 9?>,E & >, & H%;?&
%;,:>,(&%5&(,$#$:>$F%BC,5&D$5;P($F%5&>?5&9(?H,55?(,5&,E&(,6%BG?&^&%;($A=$BG?&
>,&%(;$F=6%(&?&;(%A%6D?&F?6,;$#?f&S%$5&@=,5;$?:%E,:;?53&F?:;=>?3&:G?&$E9,>,&
@=,&5,&(,*$5;(,&%&(,6,#]:F$%&>%&,N9,($O:F$%3&E,5E?&@=,&5,&(,F?:D,B%&@=,&%&
9(?9?5;%&F%(,F,&>,&%9,(H,$B?%E,:;?5L
.;<;=>;?@AB;=Cc&Z,H?(E%&/>=F%F$P:%6&-&Z,*=6%BG?&-&bMF6,?&2,5;?(L
:C?YsT'R;'UT>W;tsT'RC';Ri<YT?'CW'.T>YT'C'2;Y;<iXB;8'"?YiRT'RC'
A;?T'CW'.T>Yiu;<'C'"?S;XB;
VD($5;$%:&'=6,{%&'|,|%&.1:$#,(5$>%>,&>?&Q?(;?3&Q?(;=*%67L
8:%&e:R5&Z,:;%&[%#$>5&.1:$#,(5$>%>,&Z?#$(%&$&+$(*$6$3&/59%:D%7L
8A=>?&'%FD=>,&.1:$#,(5$>%>,&>,&Z,$E53)(%:B%7L
8:%6$5%E?5 & %6*=:5 & %59,F;?5 & >% & ,5;(=;=(% & ?(*%:$J%;$#% & , & >?5 & E,F%:$5E?5&
;,P($F?<E,;?>?6P*$F?5&9%(%&%&*,5;G?&>%&H?(E%BG?&>,&8>=6;?5L&8&%:W6$5,&,E&
@=,5;G? & ,5;W & F,:;(%>% & ,E & >?$5 & F,:;(?5 & >, & )?(E%BG?3 & % & 5%A,(3 & % & /5F?6%&
Q(?H$55$?:%6&>?&'$:D?&.Q?(;=*%67&,&%&85?F$%F$P&9,(&%&6%&Q(?E?F$P&_F=9%F$?:%6&
$&K?F$%6 &./59%:D%7L&Q%(% &;%:;?3&:?5&#%6,E?5&>%&9%(;$F$9%BG? &,&?A5,(#%BG?&
>$W($% & :?5 & `>,9%(;%E,:;?5a & >, & ,>=F%BG? & , & H?(E%BG? & >, & %>=6;?5 & :?5&
(,H,($>?5 & F,:;(?5L & 8(*=E,:;%E?5 & @=, & % & H?(E%BG?3 & :? & F?:;,N;? & >%&
/59(?'$:D? & , & >% & 8QS_K3 & H$*=(% & F?E? & ? & 9,(E%:,:;, & >$W6?*? & ,:;(, & %5&
,N9,($O:F$%5&F%5,$(%5& >?5&H?(E%:>?5&,&%@=,6%5&@=,&9?>,E&$E9=65$?:W<6?5&
9%(% & %@=$5$BG? & >, & :?#%5 & D%A$6$>%>,5 & 9(?H$55$?:%$53 & F=6;=(%$53 & 9?6";$F%5 & ,&
5?F$%$5L&Q?(;%:;?3&:,5;,5&F,:;(?53&%&H?(E%BG?&9%55%&%&5,(&?&E?#$E,:;?&>%>?&
%?&XW&F?:D,F$>?&@=,&5,&E?>$H$F%&,E&F?:;%;?&F?E&?&:?#?L&/5;,&R&>,5:=>%>?&
:?&>$W6?*?&,5;%A,6,F$>?&,:;(,&?5&H?(E%:>?53&?5&H?(E%>?(,53&?&F?:;,N;?&,&
;?>?5&?5&,:#?6#$>?5&:?&9(?F,55?&H?(E%;$#?L
.;<;=>;?@AB;=C8&2,5;G?&<&)?(E%BG?&<&8>=6;?5&-&Q?(;=*%6&<&/59%:D%L
%H(?E=6,{%UY%D??LH(
-'.0*&-'("'("#"&G-0G6%"&)-'(*'"#2-0*'&*'0F:62*'(*'
!"7-!%*'(-'"#)*(-8'2-&)!-0"'("'!"#30)*(-#'"')!*+*01-'
(-2"&)"K
V6,?:$F,&I%6H,6>&K?6%:?&.1)\)3&4(%5$67
Z=A,:5&!=$J&Z?>($*=,5&.1)\)3&4(%5$67
_ & 9(,5,:;, & ;,N;? & %9(,5,:;% & ,6,E,:;?5 & 9%(% & % & %:W6$5, & >? & Q6%:? & >,&
[,5,:#?6#$E,:;?&>%&/5F?6%&@=,&,5;W&$:5,($>?&:?&Q6%:?&>,&[,5,:#?6#$E,:;?&
>%&/>=F%BG?3&6%:B%>?&:?&4(%5$6&,E&%A($6&>,&ijjoL&_&,5;=>?&5,&$:5F(,#,&:?&
]EA$;? & >%5 & 9?6";$F%5 & />=F%F$P:%$5 & A=5F%:>? & %:%6$5%( & ?5 & F?:>$F$?:%:;,5&
$E9?5;?5 & 9,6%5 & 9(?9?5;%5 & >, & (,,5;(=;=(%BG? & >? & /5;%>? & A(%5$6,$(? & , & 5,=5&
>,5>?A(%E,:;?5&9%(%&?&;(%A%6D?&>?F,:;,L&85&(,H?(E%5&/>=F%F$P:%$5&%>?;%E&
?&>$5F=(5? &>%&@=%6$>%>,&;?;%6 &:%&*,5;G?&>%&,>=F%BG?&F?E?&E?>,6?&%&5,(&
5,*=$>?&:?&5,:;$>?&>,&%6F%:B%(&%&@=%6$>%>,&:?&,:5$:?&9MA6$F?L&b?&,:;%:;?&R&
9(,F$5? & F?E9(,,:>,( & %5 & F?:;(%>$BC,5 & @=, & 9,(9%55%E & 9?( & ,55%5 & 9?6";$F%53&
A,E&F?E?&%:%6$5%(&?&$E9%F;?&>,55%5&%BC,5&:?&F?:;,N;?&,5F?6%(&,&:%&,H,;$#%&
E,6D?($%&>?&,:5$:?L
.;<;=>;?@2B;=C8&Q?6";$F%5&<&/>=F%BG?&<&Z,H?(E%5&L
&D%6H,6>5?6%:?UY%D??LF?ELA(
(=A,:56(?>($*=,5U$A,5;LF?ELA(&
*'2!6#"'(*'6("&)6(*("'(-2"&)"8'*'.!"2*!6E*45-'#6%+F062*'&*'
"#2-0*'.$+062*'(*'26(*("'(-'!6-'("',*&"6!-
/6%$:,&V?:5;%:;&.1/Z\3&4(%5$67
/5;%&9,5@=$5%&$:#,5;$*%&?&9(?F,55?&>,&;(%:5H?(E%BG?&/>=F%F$P:%6&>%&(,>,&
9MA6$F%&>,&,:5$:?&:?&E=:$F"9$?&>?&Z$?&>,&\%:,$(?&%&9%(;$(&>?&%:?&>,&ijjj&,&?&
$E9%F;? & >%5 & (,H?(E%5 & >,5;, & 9,("?>? & 5?A(, & %5 & 9(W;$F%5 & 9(?H$55$?:%$5&
>?F,:;,5L&1E%&`,>=F%BG?&,E?F$?:%6a&R&9(?9?5;%&9%(%&%&(,>,&9MA6$F%&F?E?&
H?(E%&>,&F?:;,M>?&%&5,(&,:5$:%>?&%?5&9(?H,55?(,5&,&%6=:?5L&/5;%&5=*,5;G?3&
F?E & ? & %=N"6$? & >% & %=;?<%X=>%3 & H%#?(,F,= & ? & >,F6":$? & >% & %9(,:>$J%*,E & >?5&
F?:;,M>?5 & ;(%>$F$?:%$53 & A,E & F?E? & % & >,5#%6?($J%BG? & >%5 & ;(%X,;P($%5&
9(?H$55$?:%$5 & >?F,:;,5L & b,5;, & 5,:;$>?3 & ? & ,E9(,,:>,>?($5E? & 5,($% & % & M:$F%&
%6;,(:%;$#% & 9%(% & % & E?A$6$>%>, & 5?F$%6L & 85 & 9(?H,55?(%5 & E?5;(%(%E & @=, & 5,&
F($%#%&=E&F,:W($?&>,&9(,F%($J%BG?&9%(%&%6RE&>%5&F?:>$BC,5&>,&;(%A%6D?&?=&
5%6%($%$53&$:F$>$:>?&;%EARE&5?A(,&?&F?:D,F$E,:;?&,5F?6%(&,&:%&$>,:;$>%>,&
>?F,:;,L&/5;,&,5;=>?&5,&$:5F(,#,&:%&9,(59,F;$#%&>%5&%:W6$5,5&@=,&5,&#?6;%E&
%? & ,N%E, & >%5 & 9(W;$F%5 & >?F,:;,5 & , & A=5F% & F?:;($A=$( & 9%(% & % & %E96$%BG? & >?&
>,A%;, & 5?A(, & % & F=6;=(% & >?F,:;, & F?E? & H?:;, & 9($#$6,*$%>% & 9%(% & ?&
,:;,:>$E,:;?&>?&9(?F,55?&>,&%9(?9($%BG?&>?&F?:D,F$E,:;?&,5F?6%(L
.;<;=>;?@AB;=Cc & ,5F?6% & 9MA6$F%3 & 9(W;$F%5 & 9,>%*P*$F%53 & F?:D,F$E,:;?&
,5F?6%(L
F?:5;%:;L,6%U=?6LF?ELA(
"(32*!'.*!*'0*'0F:62*'"%.!"#*!6*0'.-!'%"(6-'("'0*'
)"2&-0-:O*
Z?5$6,:,&I?(;%&S8+8Z/K&.1)'23&4(%5$67
!%5&H?(E%5&:?#%5&>,&,>=F%F$P:&%9%(,F,:&%@="&F?E?&:=,#?5&F?:;?(:?5&>,&6%&
%6$,:%F$P:&5?F$%6L&/5?&5,&;(%>=F,&>,A$>?&%&;?>?&,6&E?#$E$,:;?&>,&,N;,:5$P:&
>, & 6% &(%F$?:%6$>%> & ;?Y?;%& 9%(% & ;?>?5 & 6?5 & ,59%F$?5 & 5?F$%6,5T & 9?( & ,6 & F?:;(?6&
5?A(,&6%&5?F$,>%>3&>?:>,&,6&`,59%F$?&9MA6$F?a&#$,:,&5$,:>?&(,,5;(=F;=(%>?&
9?(&6%5&:=,#%5&H?(E%5&>,&(%F$?:%6$>%>&,E9(,5%($%6&@=,&E?>$H$F%&6%&H=,(J%&>,&
;(%A%X?L&!%&;,F:?6?*"%3&,:&,5;,&F=%>(?3&%6&E%;,($%6$J%(&6%&$>,?6?*"%3&:?&>,A,&
5,(&%:%6$J%>%&F?E?&E,(?&$:5;(=E,:;?L&/5,&,5&=:?&>,&6?5&F=%>(?5&*,:,(%6,5&
>,&6?5&>,5%H"?5&9%(%&,6&%:W6$5$5&>,&6%&H=:F$P:&%F;=%6&>,6&;(%A%X?&>?F,:;,L
'.;<;D>;'2<;=Cc&!P*$F%&,E9(,5%($%6&-&S,F:?6?*"%&-&/>=F%F$P:
!"70"H6-&"#'#-+!"'0*'2!"*26F&'("'0-#')!6+3&*0"#'("'
20*#6762*26F&'(-2"&)"#'("#2"&)!*06E*(-#
\=W(,J&\=6$%&/6,:%&.1bK8'3&8(*,:;$:%7
!%&;(%:5H?(E%F$P:&>,6&/5;%>?&Y&6%&>,5F,:;(%6$J%F$P:&,>=F%;$#%&%F;=%6E,:;,&
5,&=A$F%:&,:&,6&F,:;(?&>,&=:&9(?F,5?&>,&F%EA$?3&,6&@=,&*,:,(%&;,:5$?:,5&
,:;(, & 6?5 & >$5;$:;?5 & %F;?(,5 & 5?F$%6,5L & S,:$,:>? & ,: & F=,:;% & 6%5 & 9?6";$F%5 & >,&
>,5F,:;(%6$J%F$P: & $E96,E,:;%>%5 & ,: & 6% & Z,9MA6$F% & 8(*,:;$:%3 & Y&
,59,F"H$F%E,:;,&,:&6%&9(?#$:F$%&>,&4=,:?5&8$(,5&>=(%:;,&,6&9,($?>?&ijjs&<&
ijjt & 3 & ,5 & >, & $:;,(R5 & %:%6$J%( & 6%5 & F%(%F;,("5;$F%5 & >,6 & 9(?F,5? & >,&
>,5F,:;(%6$J%F$P: & ,: & 6?5 & S($A=:%6,5 & >, & V6%5$H$F%F$P: & [?F,:;,5&
[,5F,:;(%6$J%>?5 & Y & 6%5 & %FF$?:,5 & 66,#%>%5 & %>,6%:;, & 9%(% & 5= & F?:F(,F$P:L & /6&
?AX,;?&F,:;(%6&>,&6%&$:#,5;$*%F$P:&,5&>,5F($A$(&6%5&%FF$?:,5&Y&F?:>$F$?:,5&,:&
6%5&@=,&5,&66,#P&%>,6%:;,&6%&>,F$5$P:&9?6";$F%&>,&9?:,(&,:&H=:F$?:%E$,:;?&
,H,F;$#?&%&6?5&is&S($A=:%6,5&[?F,:;,5&[,5F,:;(%6$J%>?5&>,&6%&9(?#$:F$%&>,&
4=,:?5 & 8$(,53 & 9,(? & :? & 5, & %*?;% & ,5;% & $:#,5;$*%F$P: & ,: & 6%5 & %FF$?:,5&
5?6%E,:;,3 & 5$:? & ;%EA$R:3 & %:%6$J% & ,6 & 9%9,6 & @=, & %5=E$P & ,6 & /5;%>?3 & 6%5&
%FF$?:,5 & >, & 6?5 & H=:F$?:%($?5 & ,:F%(*%>?5 & >, & 66,#%( & %>,6%:;, & 6% & 9=,5;% & ,:&
E%(FD%&Y3&5?A(,&;?>?&6%5&F?:5,F=,:F$%5&,:&,6&K$5;,E%&/>=F%;$#?&Q(?#$:F$%6&
,:&5=&F?:X=:;?L
.;<;D>;?'A<;=Cc&>,5F,:;(%6$J%F$P:3&;($A=:%6,53&>?F,:;,5L
X=6$%XijjkUY%D??LF?EL%(
*2"!2*'("'0*#'0O&"*#'L3"'-"6'b'3&"#2-')!*E*&'.*!*'0*#'
.-0O)62*#'2*.*26)*26F&'("')!*+*,*(-!H#'("'0*'"(32*26F&K'
*226-&"#'("'2--."!*26F&'"&'"0'#6:0-'HH6K
Q%=6%&Q,:%5&.1bV?<)8V/7&
'%("%&\?5R&!%=(,:;,&.1bV?<)8V/7&
/: & ,5;% & ,N9?5$F$P: & ?H(,F,E?5 & =: & %:W6$5$5 & >,5F($9;$#? & $:$F$%6 & >, & 6%5&
9($:F$9%6,5 & 6":,%53 & @=, & 5?A(, & 6% & F%9%F$;%F$P: & >?F,:;,3 & 5, & ;(%J%: & >,5>,&
1b/KV_ & Y & _/eL & /:;,:>,E?5 & @=, & ,: & ,5;, & F%E9?3 & @=$JW & ,NF,5$#%E,:;,&
`9%F$H$F%>?a3 & 5, & X=,*%: & (,6%F$?:,5 & H=:>%E,:;%6,5 & 9%(% & 6% & D$5;?($% & >, & 6N5&
;(%A%X%>?(N5 & >, & 6% & ,>=F%F$P:L & 8 & 9%(;$( & >, & 6% & AM5@=,>% & ,: & =:% & X=:*6% & >,&
5$*6%5 & >, & 9(?Y,F;?53 & F?E$5$?:,53 & F=EA(,5 & , & $:H?(E,5 & ,: & 6%5 & 9W*$:%5 & >,&
$:;,(:,; & >, & _/e & Y & 1b/KV_ & %:%6$J%E?5 & =:% & 5,($, & >, & >?F=E,:;?53 & @=,&
9,(E$;,:&9(,5,:;%(&6%5&9,(59,F;$#%5&9?6";$F%5&5?A(,&6%&H?(E%F$P: &F?:;$:=%3&
,: & (,6%F$P: & F?: & 6% & (,H?(E% & Y & F?: & 6% & (,;P($F% & >, & 6% & 9(?H,5$?:%6$J%F$P:L & /:&
E,>$?&>,&=:&5=9=,5;?&`*$(?a&,:&6%5&9(?9=,5;%5&>,&F%9%F$;%F$P:&?A5,(#%E?5&
F$,(;%5&,5;(%;,*$%5&Y&;,:>,:F$%5&@=,&5,&%=;?(,H,(,:F$%:&F?E?&5=9,(%>?(%5&
>,&6%5&9?6";$F%5&>,&6?5&}tjL
.;<;D>;?'A<;=C?8& S(%A%X?&>?F,:;,<&Q?6";$F%5&>,&V%9%F$;%F$P:<&8*,:F$%5&>,&
F??9,(%F$P:&$:;,(:%F$?:%6L
9%=6%9,:%5UD?;E%$6LF?E
E%($X?6%=(,:;,UY%D??LF?EL%(
*':"#)5-'3&6G"!#6)I!6*'"'*'0F:62*':"!"&26*06#)*8'!"70"H9"#'
#-+!"'*#'%3(*&4*#'(*#'$0)6%*#'(_2*(*#'"'*'M&-G*N'
2-&2".45-'("':"#)5-K
'%($%&/>$6,:,&>%&K$6#%&Z$A,$(?&.1)Q83&4(%5$67
+,(%&!MF$%&\%F?A&VD%#,5&.1)Q83&4(%5$67
/5;, & %(;$*? & $:;$;=6%>? & `8 & *,5;G? & 1:$#,(5$;W($% & , & % & 6P*$F% & *,(,:F$%6$5;%c&
(,H6,NC,5&5?A(,&%5&E=>%:B%5&>%5&M6;$E%5&>RF%>%5&,&%&`:?#%a&F?:F,9BG?&>,&
*,5;G?aL&Q%(;,&>?&,:;,:>$E,:;?&>,&@=,&%&,>=F%BG?&5=9,($?(3&9($:F$9%6E,:;,&
:? & ]EA$;? & >% & *,5;G?3 & #,E & 5?H(,:>? & %5 & F?:5,@nO:F$%5 & >? & 9(?F,55? & >,&
,N9%:5G?&>%&9?6";$F%&:,?6$A,(%63&9%=;%:>?&9,6%&6P*$F%&*,(,:F$%6$5;%L&_&;,N;?&
5, & 5=A>$#$>, & ,E & ;(O5 & $;,:5L & b? & 9($E,$(? & ,:H%;$J%E?5 & %& F,:;(%6$>%>,&
%55=E$>%&9,6?&E,(F%>?&,E&;,E9?5&:,?6$A,(%$53&@=,&=6;(%9%55%:>?&%5&5=%5&
H(?:;,$(%5 & %>,:;(% & ?5 & 5,;?(,5 & 5?F$%$53 & F?E? & % & ,>=F%BG? & 5=9,($?(L & b?&
5,*=:>?&%9?:;%E?5&F?E?&,55%5&E=>%:B%5&,N$*,E&=E&`:?#?a&E?>,6?&>,&
=:$#,(5$>%>, & , & *,5;G?3 & %9(?N$E%:>?<?5 & >?5 & E?>,6?5 & >, & 9(?>=BG?&
,E9(,5%($%6L & / & :? & ;,(F,$(? & F?E? & %6*=:5 & E%(F?5 & 6,*%$5 & ,:H%;$J%E & ,55%&
`:?#%a&6P*$F%L
.;<;=>;?@AB;=C8&',(F%>?L&2,5;G?L&2,(,:F$%6$5E?L
E%($%,>$6,:,($A,$(?UY%D??LF?ELA(
#X%F?AU=?6LF?E
-')!*+*01-'(-':"#)-!'"#2-0*!'#-+'.!"##5-8'!"#30)*(-'
G"!#3#'L3*06(*("
8:;p:$?&!$5A?%&!,$;G?&>,&K?=J%&.1)Zb3&4(%5$67
[%:$,6%&V=:D%&S,(;?&.1)Zb3&4(%5$67
_&;(%A%6D?&;(%;%&>%&*,5;G?&,5F?6%(&,&>%&@=%6$>%>,&>%&,>=F%BG?L&S,E&9?(&
?AX,;$#?&(,H6,;$(&5?A(,&%&$E96,E,:;%BG?&>,&>$(,;($J,5&*,(,:F$%$5&:%&*,5;G?&
,5F?6%(&9MA6$F%3&F?:5$>,(%:>?&%&9(,E$55%&>%&(,59?:5%A$6$J%BG?&>%&,5F?6%&,&
>,&5,=5&*,5;?(,5&9,6%&@=%6&$>%>,&>%&,>=F%BG?L&8&6P*$F%&E,(F%:;$63&9%=;%>%&
9,6? & 9,:5%E,:;? & :,?6$A,(%63 & $:>=J & =E% & *,5;G? & ,5F?6%( & #?6;%>% & 9%(%&
(,5=6;%>?5 & ,H$F$,:;,5 & , & ,H$F%J,53 & ? & @=, & 5, & ;(%>=J3 & >,:;(, & ?=;(?53 & :%&
>,5F,:;(%6$J%BG? & >%5 & %BC,53 & :% & 9%(;$F$9%BG?3 & :% & (,59?:5%A$6$J%BG? & >?5&
>$(,;?(,5&,&9(?H,55?(,5&9,6?5&5=F,55?5&?=&H(%F%55?5&>?5&%6=:?5L&8&9,5@=$5%&
A$A6$?*(WH$F% & >,E?:5;(% & @=, & % & ?($,:;%BG? & *,(,:F$%6$5;%3 & F,:;(%>% & ,E&
(,5=6;%>?5 & , & :% & (,59?:5%A$6$J%BG? & >?5 & *,5;?(,53 & 5$;=%<5, & :? & F?:;,N;? & >,&
>,5(,59?:5%A$6$J%BG? & >? & /5;%>? & H(,:;, & ^5 & 9?6";$F%5 & 5?F$%$5 & , & >,&
F?E9%(;$6D%E,:;?&5?F$%6 &>%5&(,59?:5%A$6$>%>,5&,&(,5=6;%>?5&$:5;$;=F$?:%$5L&
Q?( & ?=;(? & 6%>?3 & :? & ]EA$;? & ,5F?6%(3 & % & :?#% & *,5;G? & ;,E & $E96$F%>? & %&
$:;,:5$H$F%BG?&>?&;(%A%6D?&>?&*,5;?(3&=E%&#,J&@=,&%?5&(,5=6;%>?5&?A;$>?5&
9,6%&$:5;$;=$BG?&,5F?6%(&,5;G?&%;(,6%>?5&?5&(,F=(5?5&E%;,($%$5&,&H$:%:F,$(?5&
>,5;$:%>?5&^&,5F?6%L&8&E,:5=(%BG?&>%&@=%6$>%>,&>%&,>=F%BG?&:G?&9?>,&5,&
6$E$;%( & % & $:>$F%>?(,5 & >, & >,5,E9,:D?L & ƒ & :,F,55W($? & %9,(H,$B?% & ( & ?5&
E,F%:$5E?5&>,&9%(;$F$9%BG?&>%&F?E=:$>%>,&:%&*,5;G?&,5F?6%(&F?E?&H?(E%&
>, & ;?(:W<6% & E%$5 & >,E?F(W;$F% & ,3 & %55$E3 & 9(?E?#,( & =E% & ,>=F%BG? & >,&
@=%6$>%>,&9%(%&;?>?5&?5&F$>%>G?5&A(%5$6,$(?5L
& .;<;=>;?@AB;=Cc & ;(%A%6D? & ,5F?6%( & - & @=%6$>%>, & >% & ,>=F%BG? & - & *,5;G?&
>,E?F(W;$F%
6$5A?%6,$;%?U=?6LF?ELA(
>%:$,6%;,(;?U*E%$6LF?E
M#",*'3%'.!-7"##-!vN8'"&)!"'*'.!-.*:*&(*'"'-'.!-)"#)-J'-#'
2-&#)!*#)"#'(*'.-0O)62*'("'G*0-!6E*45-'(-2"&)"
4(=:%&K?6%&Z%E?5&.1/Z\3&4(%5$67
V%(6?5&/>=%(>?&Z,A=W&&_6$#,$(%&.1/Z\3&4(%5$67
'%($%&e:O5&Z?FD%&>,&KW&.1/Z\3&4(%5$67
8&9(?9?5;%&>,5;,&;(%A%6D?&R&%:%6$5%(&%5&9(W;$F%5&>$5F=(5$#%5&(,6%F$?:%>%5&^5&
9?6";$F%5 & >, & H?(E%BG? & , & ;(%A%6D? & >?F,:;, & :? & 4(%5$63 & % & 9%(;$( & >, & 9,B%5&
9=A6$F$;W($%5&,&>,&>=%5&$E%*,:5&>?&F?:H(?:;?&?F?(($>?&,:;(,&9(?H,55?(,5&,&
9?6$F$%$5&>?&/5;%>?&>?&Z$?&>,&\%:,$(?3&,E&E%:$H,5;%BG?&F?:;(%&%&H?(E%&>,&
$:F?(9?(%BG? & >% & *(%;$H$F%BG? & >? & b?#% & /5F?6%L & 8 & 9($E,$(% & 5,BG? & %9?:;%&
F?:5$>,(%BC,5&5?A(,&9?6";$F%5&>,&H?(E%BG?&,&;(%A%6D?&>?F,:;,3&,E&A=5F%&>%&
>$5F=55G? & 5?A(, & ?5 & .>,57F%E$:D?5 & >% & #%6?($J%BG? & >? & 9(?H,55?(3 & F?E? & 9?(&
,N,E96?3 & % & F?:5;$;=$BG? & >? & 9(?H,55?( & `;%(,H,$(?aL & 8 & 5,*=:>% & >$5F=;, & %&
F?:F,9BG? & >, & ;,N;? & , & >, & >$5F=(5?3 & ,E9(,,:>,:>? & % & 8:W6$5, & V(";$F% & >?&
[$5F=(5?&.8V[7&>,&>=%5&9,B%5&9=A6$F$;W($%5&9(?>=J$>%5&9,6?&'/V&:?&F?:;,N;?&
>% & V%E9%:D% & >, & +%6?($J%BG? & [?F,:;,3 & F?:;(%9?:>?<%5 & ^5 & (,H,($>%5&
$E%*,:5L &b%&M6;$E% &5,BG? &,:;,:>,E?53&F?E &2(%E5F$3 &@=, &% &E">$%&:G? &R&
%9,:%5 & =E% & (,6%BG? & 5?F$%63 & E%5 & =E & 9?>,(?5? & %9%(,6D? & 9($#%>? & >,&
D,*,E?:$%3 & @=, & (,9(,5,:;%06,*$;$E% & ?5 & $:;,(,55,5 & >%.57 & F6%55,.57 & @=, & %&
D,*,E?:$J%.%E73&>$H=:>$:>?&5=%5&$>,?6?*$%5&,&H?(X%:>?&F?:5,:5?5L&
.;<;=>;?@AB;=Cc&'">$%T&[$5F=(5?T&S(%A%6D?&>?F,:;,L
A(=:%5?6%U=?6LF?ELA(
,>=%(>?(,A=%UY%D??LF?ELA(
$:,5z(5U;,((%LF?ELA(
0*'*#6:&*26F&'("'!"23!#-#'%*)"!6*0"#'2-%-'"0"%"&)-'
[*3)-\'!":30*(-!'("'0*'.!I2)62*'."(*:F:62*'"&'0*#'
-!:*&6E*26-&"#'"#2-0*!"#
'%("%&/=*,:$%&2(%:>?6$&.1483&8(*,:;$:%7
/5;, & ,5F($;? & 9(,5,:;% & =: & %:W6$5$5 & 5?A(, & ,6 & *?A$,(:? & %6 & $:;,($?( & >, & 6%5&
?(*%:$J%F$?:,5&,5F?6%(,53&Y&F,:;(%&6%&E$(%>%&,:&6%5&(,*=6%F$?:,5&>,6&;(%A%X?&
>?F,:;,L&K$&A$,:&,N$5;,:&#%5;?5&,5;=>$?5&,:&,6&F%E9?&,>=F%;$#?&@=,&%:%6$J%:&
>$FD%5&(,*=6%F$?:,5&%&:$#,6&E%F(?3&,:&(,6%F$P:&%&6%5&9?6";$F%5&,>=F%;$#%53&,:&
F%EA$? & ,: & ,6 & :$#,6 & E$F(? & :? & %A=:>%: & ,5;=>$?5 & @=, & %A?(>,: & >$FD%&
9(?A6,EW;$F%L&/6&;(%A%X?&@=,&%@="&9(,5,:;%E?53&F,:;(%>?&,:&6%&9,(59,F;$#%&
;,P($F% & >, & 6?5 & `,5;=>$?5 & 5?A(, & *=A,(:%E,:;%6$>%>a3 & $:;,:;% & ,FD%( & 6=J&
(,59,F;? & >,6 & E?>? & ,: & @=, & 5?: & (,*=6%>%5 & 6%5 & 9(WF;$F%5 & 9,>%*P*$F%5 & %6&
$:;,($?( & >, & 6%5 & ?(*%:$J%F$?:,5 & ,>=F%;$#%53 & % & ;(%#R5 & >, & 6% & %5$*:%F$P: & >,&
(,F=(5?5 & E%;,($%6,5 & F?E? & 5?9?(;, & >,6 & %FF$?:%( & 9,>%*P*$F?L & 85$E$5E?&
9(?F=(% & $:>%*%( & 6%5 & 6P*$F%5 & >, & 9?>,( & @=, & *="%: & ,6 & >,596$,*=, & >, & F$,(;?5&
E,F%:$5E?5&;,F:?6P*$F?5&,:&;?(:?&%6&*?A$,(:?&>,&>$FD%5&9(WF;$F%53&%5"&F?E?&
6%&(%F$?:%6$>%>&@=,&5=AY%F,&%&;%6,5&%FF$?:,5L&!%&E,;?>?6?*"%&=;$6$J%>%3&>,&
F?(;, & F=%6$;%;$#%3 & 5, & A%5% & ,: & ,6 & %:W6$5$5 & >, & F%5?3 & 9%(% & 6? & F=%6 & D,E?5&
F?:5$>,(%>?&,6&,5;=>$?&,:&>?5&?(*%:$J%F$?:,5&,5F?6%(,5&>,&,:5,l%:J%&E,>$%&
9($#%>%5&=A$F%>%5&,:&6%&V$=>%>&8=;P:?E%&>,&4=,:?5&8$(,53&8(*,:;$:%L&K,&D%&
;(%A%X%>?&F?:&,:;(,#$5;%5&5,E$<,5;(=F;=(%>%5&%&>?F,:;,5&Y&>$(,F;$#?53&Y&,6&
%:W6$5$5&>,&6%&$:H?(E%F$P:&5,&%5$,:;%&,:&6?5&,5;=>$?5&>,&>$5F=(5?L
.;<;D>;? ' A<;=Cc & *?A$,(:? & ,5F?6%(3 & *?A,(:%E,:;%6$>%>3 & ;,F:?6?*"% & >,&
*?A$,(:?
,=*,:$%z*(%:>?6$UY%D??LF?EL%(&
.-0O)62*'"(32*26F&*08'6%.062*49"#'(*'.*!2"!6*'
.$+062-V.!6G*(*'.*!*'-')!*+*01-'(-':"#)-!'"#2-0*!
I$6>,;,&>%&K$6#%&Q,(,$(%&4?65?:&.1:$#,(5$>%>,&V%;P6$F%&[?E&4?5F?3&'K3&
4(%5$67
!=F$%:%&V($5;$:%&!?9,5&[%:;%5&.1:$#,(5$>%>,&V%;P6$F%&[?E&4?5F?3&'K3&
4(%5$67
Z,*$:%&S,(,J%&V,5;%($&>,&_6$#,$(%&.1:$#,(5$>%>,&V%;P6$F%&[?E&4?5F?3&'K3&
4(%5$67
_&?AX,;$#?&>,5;,&;,N;?&R&>$5F=;$(&%&9?6";$F%&>,&2,5;G?&>%&Z,>,&'=:$F$9%6&>,&
/:5$:?&.Z/'/7&>,&V%E9?&2(%:>,&,&%5&$E96$F%BC,5&9%(%&?&;(%A%6D?&>?&*,5;?(&
,5F?6%(3&%&9%(;$(&>%&%6;,(%BG?&:%&6,*$56%BG?&/>=F%F$P:%63&@=,&$:5;$;=$=3&,:;(,&
?=;(?53&?&9(?F,55?&5,6,;$#?&9%(%&9(?#$E,:;?&>,&F%(*?&>,&>$(,BG?&,5F?6%(&:?&
%:?&>,&ijji3&$:F6=$:>?&%&V,(;$H$F%BG?&_F=9%F$?:%63&:?&F?:;,N;?&>%&9%(F,($%&
,H,;$#%>% & ,:;(, & ? & *?#,(:?& E=:$F$9%6 & , & ? & e:5;$;=;? & 8Y(;?: & K,::% & .e8K73& :%&
*,5;G? &>?&9(,H,$;? &8:>(R &Q=F$:,66$3&>?&Q%(;$>? &>?&'?#$E,:;?&[,E?F(W;$F?&
4(%5$6,$(? & .Q'[473 & :? & 9,("?>? & >, & ijjm & % & ijjgL & 8 & 9,5@=$5% & A%5,$%<5, & ,E&
H?:;,5&>?F=E,:;%$5&H?(E%>%5&9?(&[,F(,;?53&Z,5?6=BC,53&S,(E?&>,&9%(F,($%3&
S,(E?5 & %>$;$#?53 & %6RE & >, & ,:;(,#$5;%5 & F?E & *,5;?(,5 & >? & 5$5;,E% & , & F?E&
>$(,;?(,5 & >, & ,5F?6%5 & >% & Z/'/L & _5 & (,5=6;%>?5 & $:$F$%$5 & E?5;(%E & @=, & %&
%>E$:$5;(%BG? & E=:$F$9%6 & $:F?(9?(% & % & *,5;G? & *,(,:F$%6 & :% & 9?6";$F%&
/>=F%F$P:%63&F?E&$E96$F%BC,5&9%(%&?&;(%A%6D?&>?&>$(,;?(&,5F?6%(L
.;<;=>;? ' f ' 2B;=Cc & Q?6";$F% & />=F%F$P:%6L & Q%(F,($% & 9MA6$F?<9($#%>%L & 2,5;G?&
,5F?6%(L
D$6>,5$6#%UY%D??LF?E
!=>%:;%5zmjUD?;E%$6LF?E
(,*$:%F,5;%($UD?;E%$6LF?E
)!*+*01-'(-2"&)"'"'"#2-0*'("%-2!I)62*8'6%.*##"#'"'
.-##6+606(*("#K
\?G?&8=*=5;?&b,#,5&Q$(,5&.1)13&4(%5$67
'%($%&+$,$(%&K$6#%&.1)13&4(%5$67
/6&9(,5,:;,&;(%A%X?&;$,:,&F?E?&9(?9=,5;%&%:%6$J%(&%59,F;?5&9(,9?:>,(%:;,5&
>, &6%5&%F;$#$>%>,5&[?F,:;,&Y&>, &6%&*,5;$P: &,5F?6%( &,:&,5F=,6%5&>, &6%&(,>&
9MA6$F%&>,&6%&F$=>%>&>,&1A,(6]:>$%3&E,>$%:;,&6%&9,(F,9F$P:&>,&6?5&E%,5;(?5&
5?A(,&,5;,&9(?F,5?L&Z,%6$J%E?5&=:%&$:#,5;$*%F$P:&,E9"($F%&Y&>?F=E,:;%6&,:&
=:%&,5F=,6%&#$:F=6%>%&%6&5$5;,E%&/5;%>=%6&>,&,:5,l%:J%&Y&?;(%&$:5;$;=F$P:&
#$:F=6%>% & % & 6% & 1:$P: & A%X? & 6% & E?>%6$>%> & >, & `V?6,*$? & >, & 896$F%F$P:aL & 86&
>,5%((?66%(&6%&$:#,5;$*%F$P:&F?*$E?5&>%;?5&5?A(,&6%&9%(;$F$9%F$P:&>,6&[?F,:;,&
,:&6%&,6%A?(%F$P:&>,6&9(?Y,F;?&9?6";$F?&9,>%*P*$F?3&,6%A?(%F$P:&>,6&F=(("F=6?&
,5F?6%( & Y & 6%5 & F?:>$F$?:,5 & >, & ;(%A%X? & >, & 6?5 & ,:;(,#$5;%>?5LL & /6 & ;(%A%X?&
9(?A6,E%;$JP&>$H$F=6;%>,5&F?E=:,5&9(,5,:;,5&,: &6%5&>?5&e:5;$;=F$?:,5&@=,&
F?:F$,(:, & ,: & 6% & 9%(;$F$9%F$P: & >,6 & [?F,:;, & ,: & 6% & ?(*%:$J%F$P: & >,6 & ;(%A%X?&
,5F?6%(L&Q?(&?;(?&6%>?3&,#$>,:F$%E?5&=:&:$#,6&%F,:;=%>?&>,&9(,F%($J%F$P:&>,6&
;(%A%X?&>?F,:;,&Y&>,&6%5&F?:>$F$?:,5&H"5$F%5&,:&6%&,5F=,6%&>,&6%&(,>&,5;%>=%63&
$E9%F;%:>? & ,: & 6% & F%6$>%> & >, & 6% & ,:5,l%:J% & Y & ,: & 6%5 & 9?5$A$6$>%>,5 & >, & 6%&
,H,F;$#%&9%(;$F$9%F$P:&>?F,:;,&,:&6%&>$:WE$F%&*6?A%6&>,&6%&*,5;$P:&,5F?6%(L&
/: & ,6 & WEA$;? & >,6 & V?6,*$? & >, & 896$F%F$P:3 & H=, & 9?5$A6, & F?:5;%;%( & E%Y?(&
%=;?:?E"% & Y & 9%(;$F$9%F$P: & >,6 & [?F,:;, & ,: & ,6 & 9(?F,5? & >, & >,5%((?66? & >,6&
F=(("F=6? & ,5F?6%( & Y & >, & 6% & *,5;$P:3 & E,>$%:;, & 6% & ,H,F;$#% & F?:;($A=F$P: & ,: & 6%&
,6%A?(%F$P:&>,&6%&F%(;%&>,&9($:F$9$?5&@=,&9?>(W&5?5;,:,(&,6&9(?Y,F;?&9?6";$F?&
9,>%*P*$F?&Y&;?>?&6?&@=,&;(%;%&6%&*,5;$P:&,5F?6%(L&85"3&,6&;(%A%X?&5$*=,&,:&
>,5%((?66?3&9?>,E?5&>,F$(&@=,&6%5&F?:>$F$?:,5&>,&;(%A%X?&>,&6?5&9(?H,5?(,53&
,: & 5=5 & EM6;$96,5 & >$E,:5$?:,53 & $:H6=Y,: & ,: & 6%5 & 9?5$A$6$>%>,5 & (,%6,5 & >,&
9%(;$F$9%F$P: & ,: & 6% & *,5;$P: & ,5F?6%( & Y & >,6 & >,5%((?66? & 9%(% & =:% & ,>=F%F$P:&
9MA6$F%&>,&F%6$>%>L
&.;<;D>;?'@'A<;=C?c&Q?6";$F%3&/>=F%F$P:&Y&[,E?F(%F$%L
9(?HLX?%?:,#,5U*E%$6LF?E
E(#U=H=LA(
)"%.-!*06(*("#'"'!6)%-#'("'*.!"&(6E*:"%'&*#'20*##"#'
%30)6##"!6*(*#8'*'(6&r%62*'(-')"%.-'&-'"#.*4-'!3!*0
8:%&K=,6$&S,$N,$(%&>,&Q$:D?&.1b/43&4(%5$67
/6$J,=&V6,E,:;$:?&>,&K?=J%&.1b/43&4(%5$67
/5;,&;,N;?&;,E&9?(&?AX,;$#?&$:#,5;$*%(&?5&E?>?5&F?E?&9(?H,55?(,5&,&
,>=F%:>?5&>%5&F6%55,5&E=6;$55,($%>%5&>?&E,$?&(=(%6&6$>%E&F?E&%5&
;,E9?(%6$>%>,5&,&($;E?5&>,&%9(,:>$J%*,E&:?&F?;$>$%:?&>%&5%6%&>,&%=6%&,&
@=%6&%&(,6%BG?&,N$5;,:;,&,:;(,&,55%5&9(W;$F%5&,&%&>$:]E$F%&F=6;=(%6&@=,&R&
9,F=6$%(&>?&,59%B?&(=(%6L&Q(,;,:>,<5,&;%EARE&$>,:;$H$F%(&%5&;,:5C,5&,:;(,&%&
:?BG?&>,&;,E9?&%F,6,(%>?&9(?9?5;?&:%&F?:;,E9?(%:,$>%>,&,&?&;,E9?&6?:*?&
,N$*$>?&9,6?&E?#$E,:;?&,>=F%;$#?&>%5&F6%55,5&E=6;$55,($%>%5&>?&E,$?&(=(%6L&
/:;,:>,(&,55%5&;,:5C,5&;?(:%<5,&H=:>%E,:;%6&9%(%&5,&>,6$:,%(&%5&H?(E%5&>,&
6$>%(&F?E&,55%5&>$H,(,:;,5&;,E9?(%6$>%>,5&:?&]EA$;?&,5F?6%(3&5,E&@=,&%5&
$E9?5$BC,5&5?F$%$5&,E&;?(:?&>,55,&F?:F,$;?&%F%A,E&9?(&>,5F?:5$>,(%(&?5&
;,E9?5&5=AX,;$#?5&>%5&F($%:B%5&,&X?#,:5&@=,&H(,@n,:;%E&%5&F6%55,5&
E=6;$55,($%>%5&>?&E,$?&(=(%63&F?:5$>,(%:>?<5,&%"&%&9(?>=BG?&F=6;=(%6&@=,&R&
9(P9($%&>,55,&*(=9?&5?F$%6L
.;<;=>;?@AB;=C8 'S,E9?(%6$>%>,53 & ($;E?5 & >, & %9(,:>$J%*,E3 & F6%55,5&
E=6;$55,($%>%5&>?&E,$?&(=(%6L
%:%5=,6$9$:D?UY%D??LF?ELA(
,5F6,E,:;$:?U=?6LF?ELA(
.-0O)62*#'("'G*0-!6E*45-'(-#'.!-76##6-&*6#'(*'"(32*45-'&-'
)"%.-'.!"#"&)"8'*0)"!&*)6G*#'"%'2-&#)!345-Q
!=F$%&>,&)%;$E%&+%6,:;,&.1)13&4(%5$67
/5;, & ,5;=>? & ;,E & 9?( & ?AX,;$#? & %:%6$5%( & %5 & 9?6";$F%5 & >, & #%6?($J%BG? & >,&
9(?H,55?(,5&:?&5,*=:>?&E%:>%;?&>?&*?#,(:?&!=6%&.ijjo<ijmj73&>$5F=;$(&%5&
F?:>$BC,5&>,&;(%A%6D?&>?F,:;,&:?&F?:;,N;?&%;=%63&%55$E&F?E?&%9(,,:>,(&%5&
%6;,(:%;$#%5 & @=, & ,5;G? & 5,:>? & F?:5;(=">%5 & :? & 5,:;$>? & >% & F?:F(,;$J%BG? & >,&
=E% & 9?6";$F% & E%$5 & ,H,;$#% & >,55% & #%6?($J%BG?L & Q%(% & ;%:;?3 & F?:;,N;=%6$J% & ,&
%:%6$5%& %5 &F?:>$BC,5 &>, &;(%A%6D? & >?F,:;,3&A,E&F?E? &%9?:;% &%6;,(:%;$#%5&
@=, & ,5;G? & 5,:>? & F?:5;(=">%5 & :? & 5,:;$>? & >, & #$56=EA(%( & =E & H=;=(? & E%$5&
%6,:;%>?(&9%(%&?5&9(?H$55$?:%$5&>%&,>=F%BG?L&
.;<;=>;'AB;=C8&Q?6";$F%5T&+%6?($J%BG?T&Q(?H,55?(,5L
6=F$%U9?:;%6L=H=LA(
)"2&-0-:6*#'&*'"(32*45-8'3%*'*&I06#"'(-'(6#23!#-'
1":"%o&62-'*2"!2*'(*'7-!%*45-'"'(-')!*+*01-'(-2"&)"
Z%@=,6&2?=6%(;&4%((,;?&.1/Z\3&4(%5$67&
/5;,&;,N;?&>$5F=;,&?5&E?>?5&9,6?5&@=%$5&%5&;,F:?6?*$%5&>%&$:H?(E%BG?&,&>%&
F?E=:$F%BG? & .SeV7 & ;OE & 5$>? & $:F?(9?(%>%5 & ^5 & 9?6";$F%5 & >, & H?(E%BG? & >,&
9(?H,55?(,5L & & b? & F?:;,N;? & 9?5;? & F?E? & `5?F$,>%>, & *6?A%6 & >% & $:H?(E%BG?a3&
,E9(,,:>, &% & %:W6$5, &F(";$F% &>, & H?(E=6%BC,5<FD%#,3 &>$5F=;, & % &;,:>O:F$% & ^&
F?E?>$H$F%BG? & />=F%F$P:%63 & H?F%6$J%:>? & %5 & (,6%BC,5 & ,:;(, & %&
(,F?:;,N;=%6$J%BG?&>%5&SeV&,&%5&(,55$*:$H$F%BC,5&>,&,:5$:?&,&%9(,:>$J%*,E3&
:?5 & E?#$E,:;?5 & >, & 9(?>=BG?3 & F$(F=6%BG? & , & 6,*$;$E%BG? & >? & 5,:;$>?&
D,*,Ep:$F?&>,&%6;,(:%;$#%&M:$F%L
.;<;=>;?@AB;=Cc&H?(E%BG?3&;(%A%6D?&>?F,:;,3&;,F:?6?*$%5L
(%@=,6U=?6LF?ELA(
","'w
"0'06("!*E:-'b''0*'2*06(*('("'0*'7-!%*26-&'(-2"&)"
\?(*,&V%(?&+%6,(%&.Q,(M7
!% & 9(,5,:;, & $:#,5;$*%F$P: & 5, & (,H$,(, & %6 & ;,E% & >, & 6% & H?(E%F$P: & >?F,:;, & ,:&
:=,5;(?&9%"5&Y&FPE?&,6&6$>,(%J*?&>,&%=;?($>%>,5&Y&>?F,:;,5& &$:H6=Y,&,:&5=&
F%6$>%> & Y & ,H$F%F$%L & Q%(% & %:%6$J%( & ,5;% & 9(?A6,EW;$F% & ,5 & :,F,5%($? & @=, & 6%&
H?(E%F$P:&>,&E%,5;(?5&,:&=:$#,(5$>%>,5&,&$:5;$;=;?5&5,&%>,F=,&%&,5;W:>%(,5&
:%F$?:%6,5 & , & $:;,(:%F$?:%6,5 & >, & F%6$>%> & 9?(@=, & 6?5 & 9?A(,5 & (,5=6;%>?5&
$:;,(:%F$?:%6,5 & >, & :=,5;(?5 & %6=E:U5 & Y & 6?5 & (,5=6;%>?5 & :%F$?:%6,5 & >,&
,NWE,:,5 & >, & :=,5;(?5 & E%,5;(?5 & D%: & 9=,5;? & ,: & 6% & %*,:>% & 6% & F($5$5&
E%*$5;,($%6 & Y & >, & 6% & ,>=F%F$P: & Q,(M%:% & ,: & *,:,(%6L & !% & ,5;(%;,*$% & @=,&
=;$6$J%(,E?5 & 5,(W & >,5F($9;$#% & 9?( & F=%:;? & ,:=:F$%(,E?5 & F?:F,9;?5 & Y&
>,5F($A$(,E?5&(,%6$>%>,5&5,*M:&:=,5;(%&F?E9(,:5$P: &;,P($F%&Y&9(WF;$F% &Y3&
F?E9%(%;$#% & 9?(@=, & ,N;(%9?6%(,E?5 & 6?5 & F%E9?5 & ,>=F%;$#?5 & >, & 6?5&
>$H,(,:;,5&:$#,6,5&Y&>,:;(?&>,&,66%&,6&F?E9?(;%E$,:;?&>,&6?5&%F;?(,5&>$(,F;?5&
,&$:>$(,F;?5&>,&>$FD%&9(?A6,EW;$F%L&!?&@=,&%@="&D%F,E?5&9?>("%&5,(#$(&9%(%&
@=,&,:&=:&,5;=>$?&F?E9%(%;$#?&EW5&F?E96,X?&?&%EA$F$?5?&5,&9=,>%&5%A,(&,6&
(=EA?&>,&6?5&,*(,5%>?5&>,&6%5&>$H,(,:;,5&=:$#,(5$>%>,5&Y&5=&%F;=%6&6=*%(&,:&
,6&%9%(%;?&9(?>=F;$#?&$:>=5;($%63&F?E,(F$%63&*,(,:F$%63&,>=F%;$#?3&$:;,6,F;=%63&
F$,:;"H$F?&?&9?6";$F?&>,6&9%"5&?&,6&,N;(%:X,(?L
!% & H$:%6$>%> & >, & $:#,5;$*%( & ,5;% & 9(?A6,EW;$F% & 5, & (,%6$J% & 9?( & ,6 & $:;,(R5&
%F%>RE$F? & 9%(% & >%( & % & F?:?F,( & 5,*M: & :=,5;(? & 9=:;? & >, & #$5;% & Y & 66%E%(&
5,($%E,:;, & 6% & %;,:F$P: & $:#,5;$*%;$#% & >, & ,5;, & F%E9? & % & 6% & F?E=:$>%>&
E%*$5;,($%6T&9,(?&,N$5;,&;%EA$R:& &=:&$:;,(R5&5?F$%6&9?(@=,&6%&F?:H(?:;%F$P:&
F?;$>$%:% & F?: & 6% & (,%6$>%> & 9(,5,:;, & Y & H=;=(? & 9(,#$5$A6, & 9=,>, & 66%E%( & 6%&
%;,:F$P: & >, & 6%5 & %=;?($>%>,5 & >, & ;?>%5 & 6%5 & >$E,:5$?:,5 & Y & :$#,6,53 & >, & ,5;%&
H?(E%&,:(=EA%(&9(?59,F;$#%E,:;,&&D%F$%&,6&>,5%((?66?&:%F$?:%6L&
.;<;D>;?'2<;=C8&H?(E%F$P:&>?F,:;,3&6$>,(%J*?3&,H$F%F$%
WuSiCD<TxBTYW;j<KATW
)!*+*01-'(-2"&)"'"'.-0O)62*#'("':"#)5-'"%'23!#-#'("'
7-!%*45-'6&626*0'("'.!-7"##-!"#'&-'2-&)"H)-'.*!)6230*!'
2-&7"##6-&*0V2-%3&6)I!6'%($%&!%=(%&4(,::,(&>,&'?(%,5&.1)Q/!3&4(%5$67
/5;, & ,5;=>? & %:%6$5% & %5 & F?:>$BC,5 & >, & ,N,(F"F$? & >? & ;(%A%6D? & >?F,:;, & , & >,&
$E96%:;%BG? & >, & 9?6";$F%5 & >, & *,5;G? & ,E & V=(5?5 & >, & )?(E%BG? & e:$F$%6 & >,&
Q(?H,55?(,5 & 9%(% & % & />=F%BG? & 4W5$F% & < & Q,>%*?*$%3 & :? & F?:;,N;? & >%5&
1:$#,(5$>%>,5 & V?:H,55$?:%$50V?E=:$;W($%5L & 8;=%6E,:;,3 & ,55%5 & $:5;$;=$BC,5&
#$#,:F$%E&$:ME,(%5&>$H$F=6>%>,53&,E&E=$;?&>,F?((,:;,5&>,&=E%&6,*$56%BG?&
H%#?(W#,6 & %? & F(,5F$E,:;? & >, & ?H,(;% & >, & #%*%5 & 9,6? & 5,;?( & 9($#%>?<9($#%>?L&
86RE & >$55?3 & >,#,E & %;,:;%( & ^5 & >,;,(E$:%BC,5 & >%5 & [$(,;($J,5 & V=(($F=6%(,5&
b%F$?:%$53&F?:;,E96%(&?5&F($;R($?5&$E9?5;?5&9,6?&$:>$F%>?(&>,&@=%6$>%>,&>?5&
F=(5?5 & 5=9,($?(,5 &<& V?:F,$;? & Q(,6$E$:%( & >, & 8#%6$%BG? & >? & '$:$5;R($? & >%&
/>=F%BG? & , & 9(,9%(%( & ?5 & .%57 & ,5;=>%:;,5 & 9%(% & ?A;,(,E & =E & E,6D?(&
>,5,E9,:D?&:?&/N%E,&b%F$?:%6&>,&[,5,E9,:D?&>?5&/5;=>%:;,5&-&/b8[/L&
.;<;=>;?@'2B;=Cc&9?6";$F%5&F=(($F=6%(,53&*,5;G?3&;(%A%6D?&>?F,:;,3&
H?(E%BG?&>,&9(?H,55?(,5L
E6%=(%AEUD?;E%$6LF?E
0*'7-!%*26F&'(-2"&)"'"&'"0'2-&)"H)-'0*)6&-*%"!62*&'L&Z?5%($?&S$(%>?&4=(*?5&.1:$#,(5$>%>&>,&2(%:%>%3&/59%l%7
8=:@=,&,:&6%5&M6;$E%5&>RF%>%5&5,&D%&9?>$>?&%9(,F$%(&E,X?(%5&,>=F%;$#%5&
(,6%F$?:%>%5&F?:&,6&WEA$;?&,5F?6%(&?&6%&H?(E%F$P: &>,&5=5&>?F,:;,53&,5;%5&
E,X?(%5 & 5$*=,: & 5$,:>? & $:5=H$F$,:;,5 & 9?( & #%($%5 & (%J?:,5L & /: & 9($E,( & 6=*%(&
9?(@=, &5,&F?:;$:M%: &F?: &9(WF;$F%5 &Y&96%:,5&>,&,5;=>$?&@=,&D%: &@=,>%>?&
>,5H%5%>?5 & Y & 9?( & 6? & ;%:;? & :? & 5?: & %>,F=%>?5 & % & 6%5 & %F;=%6,5 & ,N$*,:F$%5&
5?F$%6,5 & Y & ,: & 5,*=:>? & 6=*%(3 & 6% & 9(?H,5$P: & >?F,:;, & ;$,:, & ,5F%5?&
(,F?:?F$E$,:;?&;%:;?&,F?:PE$F?&F?E?&5?F$%6&Y%&@=,&F=%6@=$,(&9,(5?:%&5,&
#, & 9(,9%(%>% & 9%(% & ,>=F%(3 & 6? & @=, & 9(?#?F% & ,: & F?:5,F=,:F$% & 6%&
$:H(%#%6?(%F$P: & >, & 6% & 9(?H,5$P: & Y & >, & %D" & @=, & 6?5 & 96%:,5 & >, & ,5;=>$? & :? & 5,&
%F;=%6$F,: &:$ &5$@=$,(% & 5, & 6,5 &9(,5;, &%;,:F$P: & >,5>, & $:5;$;=F$?:,5 &?H$F$%6,5L&
Q?(&,66?3&,:&,6&9(,5,:;,&%(;"F=6?&5,&9(?9?:,&=:%&5,($,&>,&9%=;%5&@=,&9=,>%&
F?:;($A=$(&%&E,X?(%(&6%&H?(E%F$P:&>,&6?5&>?F,:;,5&%5"&F?E?&,6&>,5,E9,l?&>,&
5=&9(?H,5$P:3&Y&9%(%&F=E96$(&F?:&,5;,&?AX,;$#?&5,&:,F,5$;%&$E96$F%(&%&;?>?5&
6?5 & %*,:;,5 & @=, & $:;,(#$,:,: & ,: & 6% & ,>=F%F$P:3 & >,5>, & ,6 & ,5;%>? & @=, & >$F;%&
:?(E%;$#%5&*,:,(%6,5&D%5;%&6%&F?E=:$>%>&,:&6%&@=,&5,&,:F=,:;(,&5$;=%>?&,6&
F,:;(?&,>=F%;$#?L
.;<;D>;? ' 2<;=C8& )?(E%F$P: & >?F,:;,3 & Q(?H,5?(,5 & ,: & !%;$:?%ER($F%3&
b,F,5$>%>&>,&E,X?(%&,>=F%;$#%
(z;$(%>?vjUD?;E%$6LF?E
"0')!*+*,-'(-2"&)"'"&'0*')3)-!6*'6&(6G6(3*0'b'#3#'
2-%.062*26-&"#
_(%6$%&8*$55&Q%6%F$?5&.18/I3&'RN$F?7
'$*=,6&y:*,6&'%FD?((?&V%A,66?&.18/I3&'RN$F?7
_A>=6$%&'%(;":,J&/59$:?5%&.18/I3&'RN$F?7
2=$66,(E?&V=,#%5&Z%E$(,J&.18/I3&'RN$F?7&
/:&(,6%F$P:&%&6%&9(?H,5$?:%6$J%F$P:&>,6&;(%A%X?&>?F,:;,3&D%Y&=:&F?:X=:;?&>,&
%59,F;?5&D$5;P($F?53&5?F$%6,53&9?6";$F?5&Y&,F?:PE$F?5&@=,&$:F$>,:&9%(%&@=,&
,5;% & 9(?H,5$P: & ;,:*% & F%(%F;,("5;$F%5 & E=Y & >$H,(,:;,5 & % & ?;(%5L & /6 & ;(%A%X?&
>?F,:;, & ,5 & =:% & 6%A?( & 9(?H,5$?:%6 & Y% & @=, & (,@=$,(, & =: & 5%A,( & %>@=$($>? & ,:&
H?(E%&5$5;,EW;$F%3&A($:>%&=:&5,(#$F$?&(,6,#%:;,&%&6%&5?F$,>%>&Y&5=&9(,5;$*$?&
,5;W&>,;,(E$:%>?&9?(&6%&5$*:$H$F%F$P:&5?F$%6&>,&6?&,>=F%;$#?L'
.;<;D>;?'2<;=C?8&S(%A%X?&>?F,:;,3&;=;?($%3&9(?H,5$?:%6$J%F$P:
?%*$55UY%D??LF?ELEN
EE%FD?((?F%A,66?UY%D??LF?ELEN
?$Ez,,UD?;E%$6LF?E
;,%;(?iE%5gUY%D??LF?ELEN
.-0O)62*#'("'7-!%*45-'(-2"&)"'.*!*'-'.!-7"##-!'(-#'*&-#'
6&626*6#'(-'"&#6&-'73&(*%"&)*08'*'"H."!6Z&26*'(*'3"#+
4,:,>$;?&2L&/=*O:$?&.1/K43&4(%5$67
[=6F$:R$%&4%(A?5%&K%:;?5&.K'/0+$;P($%&>%&F?:@=$5;%3&4(%5$67
\$6E%&)(,$;%5&K?=J%&.K'/0+$;P($%&>%&F?:@=$5;%3&4(%5$67
Z?5$E,$(,&'?;%&8(%*G?&.K'/0+$;P($%&>%&F?:@=$5;%3&4(%5$67
b,5;, & ;,N;? & %9(,5,:;%E?5 & % & ,N9,($O:F$% & >% & 1:$#,(5$>%>, & /5;%>=%6 & >?&
K=>?,5;, & >% & 4%D$% & :? & F%E9? & >% & H?(E%BG? & >, & 9(?H,55?(,5 & 9%(% & ?5 & %:?5&
$:$F$%$5 & >? & ,:5$:? & H=:>%E,:;%63 & ,E & ,59,F$%6 & 9%(% & ?5 & >?F,:;,5 & @=, & XW & 5,&
,:F?:;(%E & %;=%:>? & :?5 & 5$5;,E%5 & 9MA6$F?5L & /55% & ,N9,($O:F$% & 5, & 5$;=% & :?&
F?:;,N;? & E%$5 & %E96? & >% & (,H?(E% & />=F%F$P:%6 & A(%5$6,$(% & $E96,E,:;%>% & %&
9%(;$( & >?5 & %:?5 & mttj & , & >,H$:$>%5 & :% & ![4 & thtg0tk & , & :% & 6,*$56%BG? & >,6%&
>,F?((,:;,L & 8:%6$5%E?5 & ? & 9(?X,;? & 9,>%*P*$F? & , & ?5 & ,EA%;,5 & ,E & ;?(:? & >%&
F($%BG?0%9(?#%BG?&>?&F=(5?&>,&!$F,:F$%;=(%&,E&/>=F%BG?&e:H%:;$6&,&KR($,5&
e:$F$%$5&>?&/:5$:?&)=:>%E,:;%63&>,5,:#?6#$>?&9?(&E,$?&>%&9%(F,($%&,:;(,&%&
1/K4&,&%&Q(,H,$;=(%&'=:$F$9%6&>,&+$;P($%&>%&V?:@=$5;%L
.;<;=>;?@AB;=C8&Q?6";$F%5&9MA6$F%53&H?(E%BG?&>?F,:;,3&,:5$:?&H=:>%E,:;%6L
A,:,>$;?,=*,:$?UA?6LF?ELA(
*2)6)3("#'06&:yO#)62*#'b'7-!%*26F&'(-2"&)"
!=$5&86A,(;?&'%E%:$&w=$59,&.1VI3&Q,(M7
/:&,6&9(,5,:;,&;(%A%X?3&5,&(,6%F$?:%&,6&H,:PE,:?&>,&6%5&%F;$;=>,5&6$:*n"5;$F%5&
Y&6%5&F(,,:F$%5&6$:*n"5;$F%5&F?:&6%&D$9P;,5$5&>,&6%5&;,?("%5&$E96"F$;%5L&[%>?&
@=, &,5;% & 9(?9=,5;% &9,(E$;, & ,N96$F%( &6% &E%:,(% &,: & @=, & 5, & F?:H?(E%: &6%5&
F(,,:F$%5&Y&6%5&%F;$;=>,5&6$:*n"5;$F%53&:?5&%;(,#,E?5&%&9(?9?:,(&=:&F?:X=:;?&
>,&:?F$?:,5&E":$E%5&@=,&;?>?&>?F,:;,&>,A,&F?:?F,(&9%(%&F?%>Y=#%(&%&@=,&
5,&>,5;$,((,&&6%&>$5F($E$:%F$P:&6$:*n"5;$F%L
.;<;D>;? ' A<;=C8& H?(E%F$P: & >?F,:;,3 & %F;$;=>,5 & 6$:*n"5;$F%53 & F?:?F$E$,:;?&
F?;$>$%:?L
%6A,(;?%A($6msUY%D??L,5
7-!%*45-'2-&)6&3*(*'("'.!-7"##-!"#8'/a'*&-#'("'.-0O)62*'
("'3%*'!"("'%3&626.*0'("'"(32*45'%($%&!?=(>,5&2$5$&.Q1VQZ3&4(%5$67
Z?E$6>%&S,?>?(%&/:5&.Q1VQZ3&4(%5$67
8:%&'%($%&/Y:*&.Q1VQZ3&4(%5$67
_ & ?AX,;? & >, & ,5;=>? & >? & 9(,5,:;, & ;(%A%6D? & R & % & 9?6";$F% & >, & H?(E%BG?&
F?:;$:=%>%&>,&9(?H,55?(,5&>,&=E%&Z,>,&'=:$F$9%6&>,&/:5$:?&>,5,:#?6#$>%&
,E & 9%(F,($% & F?E & e:5;$;=$BC,5 & >, & /:5$:? & K=9,($?(L & _ & ?AX,;$#? & R & %:%6$5%( & %&
9,(F,9BG? & >?5 & 9(?H,55?(,5 & 5?A(, & %5 & F?:;($A=$BC,5 & >,5;, & 9(?X,;? & 9%(% & %&
9(W;$F% & 9,>%*P*$F% & , & ? & >,5,:#?6#$E,:;? & 9(?H$55$?:%6L & Q%(% & ;%:;?3 & H?$&
(,%6$J%>% & =E% & 9,5@=$5% & E,>$%:;, & %96$F%BG? & >, & =E & @=,5;$?:W($? & 5,E$<
,5;(=;=(%>?L & _ & ,5;=>? & 5,6,F$?:?= & >, & =E & ;?;%6 & >, & hjjj & 9%(;$F$9%:;,5 & >?&
9(?*(%E%3 & tjj & 9(?H,55?(,53 & ?($,:;%>?5 & 9?( & >?F,:;,5 & >, & F$:F? & e/K3 & 5,:>?&
>=%5&=:$#,(5$>%>,5&,&;(O5&H%F=6>%>,5L&_5&(,5=6;%>?5&%9?:;%E&@=,&%9,5%(&>,&
>,J & %:?5 & >, & >,5,:#?6#$E,:;? & >, & =E% & 9?6";$F% & >, & H?(E%BG? & F?:;$:=%>%&
F?:5;%;%<5, & % & :G? & 5=9,(%BG? & >, & H(%*$6$>%>,5 & (,6%F$?:%>%5 & % & H%6;% & >, & =E%&
F?:F,9BG? & >, & H?(E%BG? & F?:;$:=%>% & @=, & F?:;,E96, & =E & & 9(?F,55? & >,&
(,H6,NG? & @=, & #$%A$6$J, & ? & %9(?H=:>%E,:;? & , & ? & %9,(H,$B?%E,:;? & >?5&
(,H,(,:F$%$5 & ;,P($F?<9(W;$F?5L & _5 & 9(?X,;?5 & >,5,:#?6#$>?5 & :%5 & ,5F?6%5 & 5G?&
>,5F?:;$:=%>?5 & ? & @=, & H%J & F?E & @=, & ? & ;(%A%6D? & >, & 9,5@=$5%0H?(E%BG? & :G?&
,H,;$#,&?&>,5,:#?6#$E,:;?&9(?H$55$?:%6&>?&9(?H,55?(L
.;<;=>;?@2B;=Cc & Q?6";$F%5 & />=F%F$P:%$5T & />=F%BG? & 4W5$F%T & )?(E%BG?&
V?:;$:=%>%L
E%($%L*$5$U9=F9(LA(&
(?E$6>%L,:5U9=F9(LA(
%:%L,Y:*U9=F9(LA(&
*0:3&-#'.!-+0"%*#'("'0*'7-!%*26F&''("0'(-2"&)"'"&'"0'
."!$
€$66$%E&V?(;,J&'%6>?:%>?&.1VI3&Q,(M7
&\?5R&+$(*$6$?&',:>?&Z?E,(?&.1VI3&Q,(M7
!?5&F=(("F=6?5&>,&H?(E%F$P: &9(?H,5$?:%6&>?F,:;,&,:&,6&Q,(M&5,&,:F=,:;(%:&
;,l$>?5&9?(&F?E96,;?&>,6& &9%(%>$*E%&$:;,6,F;=%6$5;%3&,6&@=,3&AW5$F%E,:;,3&
F?:5$5;, & ,: & F?:5$>,(%( & ,6 & F?:?F$E$,:;? & 5P6? & F?E? & =:% & F?:5;(=FF$P: & ?&
5$5;,E%;$J%F$P: & F?:F,9;=%6 & Y & ,: & 9,(F$A$( & ,6 & F?:?F$E$,:;? & 9?( & ,6&
F?:?F$E$,:;?&E$5E?3&5$:&;(%59%5%(&5=5&6"E$;,53&,5&>,F$(3&5$:&66,*%(&%&F?:?F,(&
6%5 & F?:>$F$?:,5 & 5?F$%6,5 & , & D$5;P($F%5 & @=, & 6? & *,:,(%(?:L & K,*M: & ,66?3 & ,6&
F?:?F$E$,:;? & 5, & (,5=,6#, & ,: & ,6 & 9(?9$? & F?:?F$E$,:;?3 & #?6#$R:>?6? & %5"&
,5F?6W5;$F?3 & %F%>,E$F$5;%3 & >,H?(E%>?(3 & =:$6%;,(%6 & Y & ,5;R($6L & /6 & 9%(%>$*E%&
$:;,6,F;=%6$5;% &5, &9(,?F=9% & >, &%F=E=6%( &5%A,(,5 & %A5;(%F;?53 &6? &@=, &Q%=6?&
)(,$(, & >,:?E$:P & `,>=F%F$P: & A%:F%($%a & Y & F=Y%5 & ;(,5 & F?:5,F=,:F$%5 & EW5&
5%6;%:;,5&5?:c&9($E,(?3&,6&>$#?(F$?&@=,&,5;%A6,F,&,:;(,&6%&;,?("%&Y&6%&9(WF;$F%&
5?F$%63 & 5,*=:>?3 & 6% & ?($,:;%F$P: & ;,F:$F$5;% & >, & 6?5 & ,5;=>$?53 & Y3 & ;,(F,(?3 & ,6&
%H$%:J%E$,:;? & >, & =: & 9,:5%E$,:;? & F?:5,(#%>=($5;%' %<D$5;P($F? & Y & %:;$<
D$5;P($F?L & !% & (%"J & >, & ,5;, & 9%(%>$*E% & ,5 & 6% & & ?($,:;%F$P: & E%(F%>%E,:;,&
,=(?9,"5;%3&6$A,(%6&&Y&9(%*EW;$F%&>,6&9,:5%E$,:;?&?H$F$%6&5?A(,&,>=F%F$P:&,:&
,6 & Q,(M & Y & 8ER($F% & !%;$:% & @=, & 5, & D%66% & 9(,5,:;, & ,: & 6?5 & F=(("F=6?5 & >,&
H?(E%F$P:&$:$F$%6&>,6&>?F,:;,L&K$;=%F$P:&@=,&>,A,&(,5?6#,(5,&&;(%:5H?(E%:>?&
,6&F=(("F=6?&A%5%>?&,:&%5$*:%;=(%5&,:&=:&F=(($F=6=E&A%5%>?&,:&9(?A6,E%53&
:? & 5?6%E,:;, & >% & 5,:;$>? & Y & %(;$F=6%F$P: & % & 6% & H?(E%F$P: & 9(?H,5$?:%63 & 5$:?&
;%EA$R:&F?:,F;%&,5;%&H?(E%F$P:&F?:&6%&>$E,:5$P:&5?F$%6&Y&9?6";$F%3&F?:&6?5&
9(?A6,E%5&Y&:,F,5$>%>,5&>,&>,5%((?66?&>,&6%&5?F$,>%>3&>,&6%&F?E=:$>%>&Y&
>,6 & 9%"5L & !% & $:#,5;$*%F$P: & ,53 & ,: & ,5;, & F?:;,N;?3 & ,6 & ,X, & >, & 6% & H?(E%F$P:&
9(?H,5$?:%6L&
.;<;D>;?'2<;=C?c&/>=F%F$P:3&V=(("F=6?3&[?F,:;,3&K?F$,>%>3&e:;,6,F;=%6$5E?3&
!$A,(%63&Q(%*EW;$F?3&K?F$?F=6;=(%6L&
E,:>?(?E,(?UD?;E%$6LF?E
F?(;,JE%6UD?;E%$6LF?E
-'.!-,")-'G"!"(*#'(-'"#)*(-'("'%6&*#':"!*6#8'3%*'
"H."!6Z&26*'("'7-!%*45-'(-2"&)"'*)!*G_#'("'"*(
[%:$,6%&'?;;%&>,&_6$#,$(%&.1)\)3&4(%5$67&
/5;,&;(%A%6D?&?AX,;$#%3&%&9%(;$(&>%&%:W6$5,&>?&Q(?X,;?&+,(,>%5&-&)?(E%BG?&
K=9,($?( & >, & Q(?H,55?(,53 & (,%6$J%>? & ,E & '$:%5 & 2,(%$53 & 4(%5$63 & $>,:;$H$F%(&
%6*=E%5 & >%5 & F%(%F;,("5;$F%5 & >%5 & 9?6";$F%5 & 9MA6$F%5 & >, & H?(E%BG? & >,&
9(?H,55?(,53 & ,:H%;$J%:>? & >=%5 & >, & 5=%5 & >$E,:5C,5 & 9($:F$9%$5c & H?(E%( & ?5&
:?#?5 & ?(*%:$J%>?(,5 & >% & F=6;=(%T & 9(,9%(%( & %5 & :?#%5 & *,(%BC,5 & 9%(% & 5,(3&
9,:5%(&,&%*$(3&9%(%&%&5?A(,#$#O:F$%&E%;,($%6&,&9%(%&%&F?:#$#O:F$%&5?F$%6&>,&
%F?(>? & F?E & %5 & >,E%:>%5 & >? & F%9$;%6$5E? & E=:>$%6$J%>?L & Z,%6$J?=<5, & =E&
,5;=>?&;,P($F?3&>,&F%(W;,( &>,5F($;$#?<%:%6";$F?3&A=5F%:>?3&F?E&%&E,>$%BG?&
>%&6$;,(%;=(%&,59,F$%6$J%>%3&,N%E$:%(&?5&F?:F,$;?53&9($:F"9$?5&,&9(,55=9?5;?5&
@=, & H=:>%E,:;%(%E & ? & Q(?X,;? & +,(,>%5L & V?:F6="E?5 & @=,& ,5;, & 9(?X,;?&
$:F?(9?(?=&%5&$:>$F%BC,5&E?>,(:$J%>?(%5&9%(%&%&H?(E%BG?&>,&9(?H,55?(,53&
,E&5,(#$B?&,&%&>$5;]:F$%3&,&%&>$E,:5G?&R;$F?<E?(%6&:,F,55W($%&^&H?(E%BG?&
>?&9(?H,55?(&>,&:?#?&;$9?3&,:5,X%:>?&%&`H=:>%E,:;%6&,&=(*,:;,a&9(,9%(%BG?&
>? & 5=X,$;? & 9%(% & ? & ,:H(,:;%E,:;? & >% & :?#% & (,%6$>%>, & ;(%J$>% & 9,6%&
*6?A%6$J%BG?L & 855=E$=<5, & % & 9,>%*?*$% & >%5 & F?E9,;O:F$%5 & F?E? & >$(,;($J&
F=(($F=6%(&,&%&;(%:5H?(E%BG?&5?F$%63&:?5&6$E$;,5&>?&F%9$;%6$5E?c&?&F%E$:D?&
5,($%&%9,:%5&D=E%:$JW<6?3&%$:>%&@=,&5,&E%:;,:D%E&$:;%F;%5&%&,N96?(%BG?&,&
%&>?E$:%BG?&@=,&?&,:*,:>(%EL
.;<;=>;?@2B;=Cc&)?(E%BG?&>,&Q(?H,55?(,5L&b?#%&K?F$%A$6$>%>,L&/>=F%BG?&%&
[$5;]:F$%
>%:$E?;;%U%F,55%LF?E
*'7-!%*45-'("'.!-7"##-!"#'(*#'#_!6"#'6&626*6#J'&-'"#)*(-'
(-'.*!*&IV+!*#60K
Z,*$:%&'%($%&'$FD,6?;;?&.1)QZ3&4(%5$67
'%($%&8ER6$%&K%AA%*&x%$:{?&.1)QZ3&4(%5$67
V?6%A?(%>?(,5c
Z?A5?:&K$9(%{$&,&'W(F$%&4?:%(>$
ƒ & F?:D,F$>% & % & 5$;=%BG? & ,E & @=, & ,5;W & F?6?F%>? & ? & 4(%5$6 & :?5 & ;,5;,5&
/>=F%F$P:%$5 & 9(?E?#$>?5 & 9?( & ?(*%:$5E?5 & >$#,(5?5L & Q%(;$:>? & >,55, & >%>?3&
>,E?:5;(%>? & ,E & ;%A,6%3 & ? & 9(,5,:;, & %(;$*? & ,:H?F% & =E & >?5 & ,$N?5 & >?&
9(?A6,E%c & % & H?(E%BG? & >, & 9(?H,55?(,53 & %(;$F=6%>% & %? & 9(?F,55? & >,&
9($#%;$J%BG? & @=, & *,(?= & % & 9(?6$H,(%BG? & >, & F=(5?5 & >, & @=%6$>%>, & >=#$>?5%L&
[,E?:5;(%&9?(&*(WH$F?5&@=,&%9(,5,:;%E&>%>?5&>?&,5;%>?&>?&Q%(%:W3&@=,&%5&
?(*%:$J%BC,5&%F%>OE$F%5&:%&@=%$5&%&9($#%;$J%BG?&E%$5&9(?59,(?=&H?(%E&%5&
H%F=6>%>,5 & $:;,*(%>%5 & ?= & $5?6%>%53 & F?E & O:H%5, & :%5 & $:5;$;=$BC,5 & 9($#%>%5&
F?E & H$:5 & 6=F(%;$#?53 & :? & ]EA$;? & >%5 & @=%$5 & 5, & ,N9%:>$(%E & ?5 & F=(5?5 & E%$5&
F=(;?5&,&%6$*,$(%>?5L&8&H?(E%BG?&>?5&9(?H,55?(,5&@=,&%;=%E&:%&,>=F%BG?&
$:H%:;$6 &, &:%5 &5R($,5&$:$F$%$5 &>?&,:5$:?&H=:>%E,:;%6 &H?$ &% &@=, &E%$5&5?H(,=&
,55% & 5$;=%BG?L & S(%;%<5,3 & 9?(;%:;?3 & >? & F=(5? & >, & Q,>%*?*$% & .?= & >? & b?(E%6&
K=9,($?(3&XW&,N;$:;?73&F=X?&:ME,(?&>,&E%;("F=6%5&H?$&*(%:>,E,:;,&%E96$%>?L&
8&9%(;$(&>,55%&>,E?:5;(%BG?3&%9(,5,:;%<5,&,&%:%6$5%<5,&%&%;=%6&9(?9?5;%&>?&
'$:$5;R($? & >% & />=F%BG? & 9%(% & % & H?(E%BG? & >?5 & 9(?H,55?(,5 & ,E & 5,(#$B?3 & %&
`Q?6";$F%&b%F$?:%6&>,&)?(E%BG?&>,&Q(?H$55$?:%$5&>?&'%*$5;R($?&>%&/>=F%BG?&
4W5$F%a&F($%>%&9?(&E,$?&>?&[,F(,;?&:•&koss3&>,&it&>,&X%:,$(?&>,&ijjtL&
Q%6%#(%5<FD%#,c&F=(5?&>,&Q,>%*?*$%&-&9($#%;$J%BG?&<&Q8Z)_ZL&
(EE$FD,U=?6LF?ELA(
E%5J%$:{?U*E%$6LF?E
06%6)"#'z'.-##6+606(*("#'(*'"*('2-%-'.-0O)62*'("'7-!%*45-'
(-2"&)"8'-'-01*!'(-#'73)3!-#'.!-7"##-!"#
!%=($%:%&2?:B%6#,5&>,&Q%$#%&.1/Z\3&4(%5$67
[%:$,6%&'?;;%&>,&_6$#,$(%&.1)\)3&4(%5$67&
/5;,&;(%A%6D?&9(?A6,E%;$J%&%5&9?6";$F%5&>,&H?(E%BG?&>?F,:;,&%&>$5;]:F$%&:?&
4(%5$63 & F?E9(,,:>,:>? & % & />=F%BG? & % & [$5;]:F$% & ./%[7 & F?E? &9($:F$9%6&
,5;(%;R*$% & 9%(% & % & ,N9%:5G? & >% & ,>=F%BG? & 5=9,($?( & , & 9%(% & % & H?(E%BG? & >,&
9(?H,55?(,5&,E&:"#,6&5=9,($?(&>,5>,&?&H$:%6&>?5&%:?5&>,&mttjL& 8&9%(;$(&>,&
,:;(,#$5;%5&5,E$<,5;(=;=(%>%53&(,%6$J%>%5&F?E&?5&*(%>=%:>?5&,E&Q,>%*?*$%&
%&>$5;]:F$%&>%&1:$#,(5$>%>,&),>,(%6&>,&\=$J&>,&)?(%3&9P6?&K%6$:%53&A=5F%E?5&
F?E9(,,:>,(&@=%6&%&5=%&9,(F,9BG?&>?5&6$E$;,5&,&9?55$A$6$>%>,5&>%&H?(E%BG?&
% & >$5;]:F$%L & [$5F=;$E?5 & >=%5 & ;,:>O:F$%5 & :%5 & H?(E=6%BC,5 & >%5 & 9?6";$F%5&
9MA6$F%5 & %;=%$5c & $7 & @=, & %5 & S,F:?6?*$%5 & >% & e:H?(E%BG? & , & >% & V?E=:$F%BG?&
.SeV73&%55?F$%>%5&^&/%[3&9?>,E&5=9,(%(&?5&E?>,6?5&%:;,($?(,5&>,&/>=F%BG?&
%&[$5;]:F$%3&;(%J,:>?&:?#%5&9,(59,F;$#%5&9%(%&%&H?(E%BG?&>?F,:;,&,&$$7&@=,&
%5&SeV&5G?&=;$6$J%>%5&F?E? &H,((%E,:;%5& :=E&5,:;$>?&(,5;($;?3&:G?&D%#,:>?&
6=*%(&9%(%&%&%9(?9($%BG?&>%5&SeV&9,6?5&H=;=(?5&9(?H,55?(,5L&+,($H$F%E?5&@=,3&
,EA?(%&%5&SeV&5,&F?:5;$;=%E&%&F,:;(%6$>%>,&>%5&9?6";$F%5&>,&H?(E%BG?&>,&
9(?H,55?(,5&%&>$5;]:F$%3&:%&9(W;$F%&?&@=,&;,E?5&5G?&%6=:?5&F?E&,:?(E,5&
>$H$F=6>%>,5 & >, & %F,55? & ^5 & ;,F:?6?*$%5L & 8 & 9(?E,55% & >, & `;(%:5H?(E%BG?a&
%;(%#R5&>%5&SeV&,&>%&/%[&:%&H?(E%BG?&>,&9(?H,55?(,5&,E&:"#,6&5=9,($?(&:G?&
5,&F?:F(,;$J?=3&%?&E,:?5&%;R&?&9(,5,:;,L&
.;<;=>;?@AB;=Cc & />=F%BG? & % & [$5;]:F$%3 & )?(E%BG? & >, & Q(?H,55?(,53 & b?#%5&
S,F:?6?*$%5
6%=($%:%9%$#%UY%D??LF?ELA(
>%:$E?;;%U%F,55%LF?E
"#)3(6-'("'("%*&(*'#-26*0'b'%"!2*(-'-23.*26-&*0'("'
"(32*26F&'6&626*0'"&'0*'06+"!)*(
/(:,5;?&V(=J&KW:FD,J&./V13&Q,(M7
/6 & 9(,5,:;, & ,5;=>$? & 5, & (,%6$JP & ,: & A%5, & % & =: & E?>,6? & ;,P($F? & %><D?F3&
,E96,%:>?&6%&$:H?(E%F$P:&,5;%>"5;$F%&%F;=%6$J%>%&>,&6%&9?A6%F$P:&,:&,5;=>$?3&
>%;?5 & >,E?*(WH$F?5 & >,6 & '$:$5;,($? & >, & />=F%F$P:3 & e:5;$;=;? & b%F$?:%6 & >,&
/5;%>"5;$F% & , & $:H?(E%F$P: & 9(?9?(F$?:%>% & 9?( & 6% & E$5E% & 1:$#,(5$>%>L & Q%(%&
,:($@=,F,(&F=%6$;%;$#%E,:;,&,6&,5;=>$?&>,&6%&[,E%:>%&K?F$%6&Y&>,&',(F%>?&
_F=9%F$?:%63&5,&,E96,P3&F?E?&$:5;(=E,:;?&>,&(,F?6,FF$P:&>,&$:H?(E%F$P:3&6%&
E,;?>?6?*"%&[/!QIe&(,F?*,(&$:H?(E%F$P:&#%6$?5%&,:&A%5,&%&F?:?F$E$,:;?5&Y&
,N9,($,:F$%5&>,&&,N9,(;?5&&@=,&:?5&9,(E$;$,(?:&%E96$%(&6%5&,N96$F%F$?:,5&>,&
6% & ,;%9% & F=%:;$;%;$#%3 & Y & (,%6$J%( & 6% & 9(?59,FF$P: & >, & 6% & [,E%:>% & K?F$%6 & Y&
',(F%>?&_F=9%F$?:%6&>,&6%5&F%((,(%5&>,&/>=F%F$P:3&,:&6%&Z,*$P:&!%&&!$A,(;%>L
.;<;D>;?@A<;=C?8&>,E%:>%&5?F$%63&E,(F%>?&?F=9%F$?:%63&V%((,(%&>?F,:;,
,(:,5;?F(=J5%:FD,JUY%D??L,5
"(32*45-'*'(6#)r&26*8'3%'"#)*(-'(*'*!)"'*'.*!)6!'(*'!"("'
"#)!*(-']aap
…,6,:&>?5&K%:;?5&\=:*,5&.&1be1+0Q1VQZ3&4(%5$67
'R(F$%&)(,$(,&Z?FD%&V?(>,$(?&'%FD%>?&.e)QZ0Q1VQZ3&4(%5$67
_&9(,5,:;,&%(;$*?&?AX,;$#%&%9(,5,:;%(&,&%:%6$5%(&?&,:H?@=,&>%>?&^&,>=F%BG?&
% & >$5;]:F$% & ./8[73 & :% & F%;,*?($% & `H?(E%BG? & >?F,:;,a & >?5 & ;(%A%6D?5&
%9(?#%>?5 & 9%(% & ? & ,$N? & ;,EW;$F? & `)?(E%BG? & >?F,:;,c & 9?6";$F%53 & >,A%;,5 & ,&
9(?F,55?5a & >? & +ee & K,E$:W($? & >% & Z,>, & !%;$:?<8E,($F%:% & >, & /5;=>?5 & 5?A(,&
S(%A%6D?&[?F,:;,&.Z,>,&/5;(%>?7c&b?#%5&Z,*=6%BC,5&9%(%&%&8ER($F%&!%;$:%3&
(,%6$J%>?&:?&%:?&>,&ijjv&:%&1:$#,(5$>%>,&>,&4=,:?5&8$(,5L&/5;,&,5;=>?&H%J&
9%(;,&>,&=E%&9,5@=$5%&(,%6$J%>%&:%&>$5F$96$:%&>,&`Q?6";$F%5&>,&)?(E%BG?&>,&
Q(?H,55?(,5 & , & ? & S(%A%6D? & [?F,:;,a & >, & =E & 9(?*(%E% & >, & 9P5<*(%>=%BG?&
5;($F;?&5,:5=&>,&=E%&=:$#,(5$>%>,&>,&*(%:>,&9?(;,&:?&/5;%>?&>?&Q%(%:WL&_&
9(?F,55? & >, & $:#,5;$*%BG? & ,:#?6#,= & @=%;?(J, & E,5;(%:>?5 & , & >?=;?(%:>?53&
E,>$%>?5 & 9?( & =E% & 9(?H,55?(% & 9,5@=$5%>?(%L & _5 & ,5;=>?5 & %F?:;,F,(%E&
>=(%:;,&@=$:J,&,:F?:;(?5&5,E%:%$5&>,&;(O5&D?(%5&F%>%L&8&9%(;$(&>?&,5;=>?&
>? & ;$9? & ,5;%>? & >% & %(;,3 & (,%6$J?=<5, & =E & E%9,%E,:;? & >, & hhg & ;(%A%6D?5&
%9(?#%>?5&,&>$59?:"#,$5&:?5&8:%$5&>?&,#,:;?&,E&5,;,&,$N?5&;,EW;$F?5L&_5&
(,5=6;%>?5&%9?:;%E&@=,&?5&>?$5&;(%A%6D?5&5?A(,&/8[&%9(,5,:;%>?5&:?&,$N?&
Q?6";$F%5&,>=F%;$#%5&,&;(%A%6D?&>?F,:;,&%:%6$5%>?3&E?5;(%E&%&9(,?F=9%BG?&
F?E & % & @=%6$>%>, & >?5 & F=(5?5 & ?H,(,F$>?5 & , & @=, & % & 9(?>=BG? & 5?A(, & ,5;%&
;,EW;$F%&%$:>%&R&$:F$9$,:;,3&D%#,:>?&%&:,F,55$>%>,&>,&(,*=6%E,:;%BC,5&,&
9?6";$F%5&9%(%&H?(E%BG?&%&>?F,:;,&:,5;%&E?>%6$>%>,&/>=F%F$P:%6L&
.;<;=>;?@AB;=C8& />=F%BG? & % & [$5;]:F$%L & Q?6";$F% & />=F%F$P:%6L & )?(E%BG?&
[?F,:;,L
{X=:*,5UA(;=(A?LF?ELA(
E,(F$%LE%FD%>?U$H9(L,>=LA(
7-!%*45-'("'.!-7"##-!"#J'.-0O)62*#'"(32*26F&*6#'"'
)!*+*01-'(-2"&)"'&*'!"("#)!*(-']aac'"']aap8'3%'"#)3(-'
2-%.*!*)6GZ?E$6>%&S,?>?(%&/:5&.Q1VQZ3&4(%5$67
K$E?:,&€,$:D%(>;&€$;D,(5&.Q1VQZ0)8/!0Z'/V3&4(%5$67&
/5;,&;,N;?&H?F%6$J%&?5&;(%A%6D?5&%9(,5,:;%>?5&,&>$59?:"#,$5&:?5&8:%$5&>?5&+e&
, &+ee & K,E$:W($? & >% & Z,>, & !%;$:?<%E,($F%:% & >, & /5;=>?5 & 5?A(, & S(%A%6D?&
[?F,:;,&-&Z,>/KSZ8[_ &(,%6$J%>?5&,E&ijjk&,&ijjv3&,&;,E&F?E?&?AX,;$#?&
$>,:;$H$F%( & , & >,5F(,#,( & F?E? & %5 & 9?6";$F%5 & />=F%F$P:%$5 & >, & H?(E%BG? & >,&
9(?H,55?(,5 & ;,E & 5, & %9(,5,:;%>? & & :% & 8ER($F% & !%;$:%L & Z,%6$J?=<5, & =E&
E%9,%E,:;?&5?A(,&?&;,E%&@=,&$:>$F?=&oh&;(%A%6D?5&:?&9($E,$(?&5,E$:W($?&
,&hgt&:?&5,*=:>?&E?5;(%:>?&%&H?(E%&F?E?&%&(,>,&;,E&,#?6=">?L&_5&>%>?5&
(,#,6%(%E&?5&;,E%53&%&>$5;($A=$BG?&>,&;(%A%6D?5&5?A(,&%&9?6";$F%&>,&H?(E%BG?&
>,&9(?H,55?(,53&,E&;,(E?5&>,&H(,@=O:F$%&,&9?(F,:;%*,E3&9,6?5&>$H,(,:;,5&
,$N?5L&_5&(,5=6;%>?5&%9?:;%E&=E&:ME,(?&5$*:$H$F%;$#?&.mii7&>,&;(%A%6D?5&
@=, & 5, & F?:F,:;(% & :% & H?(E%BG? & >?F,:;,3 & >,E?:5;(%:>? & @=, & ?5&
9,5@=$5%>?(,5 & A=5F%E & F?E9(,,:>,( & %5 & $E96$F%BC,5 & >%5 & 9?6";$F%5&
/>=F%F$P:%$5&5?A(,&?&;(%A%6D?&>?F,:;,&,&?&9(?F,55?&>,&F?E96,N$H$F%BG?&>?&
>,5,E9,:D?&>?&;(%A%6D?&>?&9(?H,55?(&%&9%(;$(&>,6%5L
.;<;=>;?@AB;=C8&)?(E%BG?&>?F,:;,3&9?6";$F%5&/>=F%F$P:%$53&
(?E$6>%L,:5U9=F9(LA(
5$E?:,||U*E%$6LF?E
"H)"&#5-'3&6G"!#6)I!6*'"'7-!%*45-'.*!*'-')!*+*01-'
(-2"&)"
K=,6$&'%JJ$66$&.1:$5%:;?53&4(%5$67
'%($%&eJ%A,6&V%6$6&K;%E%;?&.1:$5%:;?53&4(%5$67
86>,:$(&[$%5&>?5&K%:;?5&.1:$E,5&,&)%F=6>%>,&>,&KG?&+$F,:;,3&4(%5$67
/>$5?:&K%:;%:%&>?5&K%:;?5&.1:$5%:;?53&4(%5$67
)(%:F$,6,&\%F@=,6$:,&2%J?6%&>%&K$6#%&.1:$5%:;?53&4(%5$67
…6$E&€,(;J&KFD,:>,(&.1:$5%:;?53&4(%5$67
!"6$%:&2?:B%6#,5&>,&_6$#,$(%&.K'/&>,&V=A%;G?3&4(%5$67
'p:$F%&'%(@=,5&>,&Q%=6%&.K'/&K%:;?50K//&KG?&Q%=6?3&4(%5$67
&
_&%(;L&ijo&>%&V?:5;$;=$BG?&),>,(%6&>$59C,&@=,&%5&=:$#,(5$>%>,5&A(%5$6,$(%5&
>,#,(G?&?A,>,F,(&%?&9($:F"9$?&>%&$:>$55?F$%A$6$>%>,&,:;(,&,:5$:?3&9,5@=$5%&
,&,N;,:5G?L&/EA?(%&5,:>?&%&H=:BG?&H?(E%;$#%&>,&,N;,:5G?&9?=F?&,N96?(%>%&
:?5 & E,$?5 & =:$#,(5$;W($?53 & %F(,>$;%<5, & @=, & 5=% & %55?F$%BG? & %? & ,:5$:? & , & ^&
9,5@=$5% & 9?>, & (,5=6;%( & ,E & E,6D?($% & >% & @=%6$>%>, & >,5;, & :"#,6 & >, & ,:5$:?3&
=E%&#,J&@=,&?& F?:D,F$E,:;?&*%:D%&5$*:$H$F%>?&@=%:>?&5,&9,(*=:;%&9,6?&
9(?F,55?&>,&5=%&9(?>=BG?&,&9,6?&5,=&5$*:$H$F%>?&:%&#$>%&5?F$%63&%;(%#R5&>,&
@=,5;C,5 & ,E,(*,:;,5 & >% & 9(W;$F%3 & %BG? & 9?55$A$6$;%>% & 9,6% & H=:BG? & >%&
,N;,:5G?L &Q%(;$:>? & >,55%5 & 9(,E$55%53 & ,5;% & $:#,5;$*%BG?3 & ,E & %:>%E,:;?3&
;,E&F?E?&?AX,;$#?&%:%6$5%(&%5&9?55$A$6$>%>,5&>,&%9(,:>$J%>?5&>,F?((,:;,5&
>%&9%(;$F$9%BG?&,E&%;$#$>%>,5&>,&,N;,:5G?&F?E=:$;W($%&,&=:$#,(5$;W($%&,&>,&
(,9,(F=55C,5 & >,55%5 & 9(W;$F%5 & @=%6$H$F%BG? & >? & ;(%A%6D? & >?F,:;,L & KG?&
;?E%>?5&F?E?&F%;,*?($%5&;,P($F%5&9%(%&,5;,&,5;=>?&?5&F?:F,$;?5&>,&5%A,(,5&
,&H?(E%BG?&9(?H$55$?:%6&>?F,:;,3&,N;,:5G?&=:$#,(5$;W($%&,&$:>$55?F$%A$6$>%>,&
,:;(, & ,:5$:?3 & 9,5@=$5% & , & ,N;,:5G?L & /5;G? & 5,:>? & (,%6$J%>%5 & ,:;(,#$5;%5&
$:>$#$>=%$5&,&*(=9?5&H?F%$5&F?E&?5&9(?H,55?(,5&=:$#,(5$;W($?5&@=,&%;=%E&,E&
%;$#$>%>,5 & >, & ,N;,:5G? & =:$#,(5$;W($%L & /59,(%<5, & @=, & ?5 & (,5=6;%>?5 & >,5;%&
9,5@=$5% & #,:D%E & F?:;($A=$( & 9%(% & ,#$>,:F$%( & % & $E9?(;]:F$% & >% & ,N;,:5G?&
F?E?&H=:BG?&@=,&@=%6$H$F%&?&,:5$:?&>,&*(%>=%BG?&,&?&;(%A%6D?&>?F,:;,L&
.;<;=>;?@AB;=C8& H?(E%BG?&>,&9(?H,55?(,5T&;(%A%6D?&>?F,:;,&=:$#,(5$;W($?T&
,N;,:5G?&=:$#,(5$;W($%L&
5=,6$LE%JJ$66$U;,((%LF?ELA(
A,6F%6$6U$(?:LF?ELA(
&>$%5L>$>%U*E%$6LF?E
,>$L9(?FU;,((%LF?ELA(
H(%:*%J?6%U*E%$6LF?E
&&{6$E5FD,:>,(UD?;E%$6LF?E&
6$6$%:L6$6$%:*?6U*E%$6LF?ELA(
E?LE%(9%=6%U*E%$6LF?E
.-0O)62*#'+!*#60"6!*#'("'7-!%*45-'("'.!-7"##-!"#8'
"%+*)"#'("'"(32*(-!"#'"'-#'[("#\2*%6&1-#'6&#)6)3O(-#'
."0*#'!"7-!%*#
'%($%&89%(,F$>%&2=,((%&!%*,&.1)13&4(%5$67
+$6E%&89%(,F$>%&>,&K?=J%&.1)13&4(%5$67
8&>RF%>%&>,&mttj&R&E%(F%>%&9?(&=E&E?#$E,:;?&>,&(,H?(E%5&/>=F%F$P:%$5&
@=,&>,#,&5,(&%:%6$5%>?&;?E%:>?&F?E?&9?:;?&>,&9%(;$>%&?&F,:W($?&E%F(?&>,&
(,,5;(=;=(%BG? & 9(?>=;$#% & :? &@=%6 & ?& F%9$;%6$5E? & #$#, &D?X,3& %9?$%:>?<5, & :%&
H?(B%&>%&$>,?6?*$%&:,?6$A,(%63&9(?#?F%:>?&(,>,H$:$BC,5&:?&9%9,6&>?&/5;%>?&,&
:%5&9?6";$F%5&9MA6$F%5L&V?E?&9%(;,&>,55,&F?:;,N;?3&#,($H$F%<5,&%&%;=%BG?&>%&
6P*$F% & >? & E,(F%>? & @=, & F?:F,A, & % & ,>=F%BG? & F?E? & =E% & E,(F%>?($%3&
%55,E,6D%:>?&%&,5F?6% &%&=E&,E9P($?L&b,55%&>$(,BG?&5G? &$E96,E,:;%>%5&
(,H?(E%5&/>=F%F$P:%$5&F?,(,:;,5&F?E&?&E?>,6?&:,?6$A,(%63&,E&5=%&E%$?($%&
F?E&=E%&9%(;,&>,&=E&E,F%:$5E?&>,&5=AE$55G?&>%&,>=F%BG?&%?&H$*=($:?&>?&
F%9$;%6L&V?:5$>,(%:>?&,55,&F,:W($?3&%5&9?6";$F%5&>,&H?(E%BG?&>?F,:;,&H%J,E&
9%(;, & >,55, & F?:X=:;? & >, & (,H?(E=6%BC,5 & , & $E9C,E & %?5 & >?F,:;,5 & :?#?5&
F?:>$F$?:%E,:;?5 & ,E & 5=% & 9(W;$F% & 9,>%*P*$F% & , & :?#?5 & >,5%H$?5L&
V?:5$>,(%:>? & ,55, & F,:W($?3 & ? & 9(,5,:;, & ;(%A%6D? & H?F%6$J% & %5 & 9?6";$F%5&
A(%5$6,$(%5 & >, & H?(E%BG? & >, & 9(?H,55?(,5 & :? & F,:W($? & >%5 & (,H?(E%5&
/>=F%F$P:%$5 & $E96,E,:;%>%5 & % & 9%(;$( & >?5 & %:?5 & mttj3 & F?:5$>,(%:>? & ?&
F?:;,N;? & E%F(? & :,?6$A,(%6 & , & 5,=5 & (,H6,N?5 & :% & 9(W;$F% & 9,>%*P*$F% & >?5&
9(?H,55?(,5&>%&,>=F%BG?&AW5$F%L&
.;<;=>;?@AB;=C8 'Q?6";$F%5 & />=F%F$P:%$5T & )?(E%BG? & [?F,:;,T & Q(W;$F%&
Q,>%*P*$F%
E%*6%*,U;,((%LF?ELA(
#$6E%5?=J%U9?:;%6L=H=LA(
*&)*:-&6#%-'&*'2-&2".45-'("'7-!%*45-'2-&)6&3*(*'("'
.!-7"##-!"#8'-'-01*!'(-'"#)*(-'"'(-'.!-7"##-!'
+%6R($%&'?(,$(%&Z,J,:>,&.)8VeQ&-&1)17
/5;, & %(;$*? & ,N%E$:% & 9?6";$F%5 & >, & H?(E%BG? & F?:;$:=%>% & >, & >?F,:;,5 & ,E&
'$:%5 & 2,(%$5L & _ & H?F? & %:%6";$F? & R & % & %9(,,:5G? & >%5 & F?:F,9BC,5 & >? & ,5;%>?&
5?A(,&?&9(?H,55?(&,&F?E?&?5&>?F,:;,5&9,(F,A,E&,5;%&9(?9?5;%&>,&H?(E%BG?&
%:;, & % & $E96%:;%BG? & >? & Q(?*(%E% & >, & [,5,:#?6#$E,:;? & Q(?H$55$?:%6 & >,&
/>=F%>?(,5L & _ & 9(?*(%E% & 9(,F?:$J% & % & E,6D?($% & :? & >,5,E9,:D? & ,&
@=%6$H$F%BG? & >?F,:;, & 9?( & E,$? & >? & >,5,:#?6#$E,:;? & >, & %;$#$>%>,5 & F?E&
5=9?(;, & >? & *?#,(:? & ,5;%>=%6L & _5 & (,5=6;%>?5 & F?:H$(E%(%E & @=, & ? & ,5;%>?&
9%=;%<5,&9,6%&F?:F,9BG?&$>,%6&>?&9(?H,55?(&F?E?&5=X,$;?&%;$#?&,&9?6$#%6,:;,L&
Q%(% & ?5 & >?F,:;,53 & ? & ,5;%>? & >,5F?:5$>,(% & % & (,%6$>%>, & >, & 5=%5 & 9(W;$F%5 & ,&
$E9C,&%BC,5&>,5%(;$F=6%>%5&>,&5,=5&5%A,(,5&D$5;?($F%E,:;,&F?:5;(=">?5L&
.;<;=>;?@AB;=C8& )?(E%BG? & >?F,:;,T & Q?6";$F%5 & />=F%;$#%5T & Q(?*(%E% & >,&
[,5,:#?6#$E,:;?&Q(?H$55$?:%6L
#%6,($%U9?:;%6L=H=LA(&
7-!%*45-'2-&)6&3*(*'("'.!-7"##-!"#8'+3#2*#'"'
!"#6#)Z&26*#'&*'!"*06(*("'(-2"&)"
Z,X%:,&>,&)(,$;%5&K%:;?5&.1:$E?;,53&4(%5$67
‡(5=6%&8>,6%$>,&>,&!R6$5&.1:$E?:;,53&4(%5$67
/5;, & ;(%A%6D? & >, & 9,5@=$5% & 9(?9p5<5, & % & F?:D,F,( & ?5 & H%;?(,5 & *,(%>?(,5 & >,&
A=5F%&,0?=&(,5$5;O:F$%&>?5&9(?H,55?(,5&,E&(,6%BG?&^&H?(E%BG?&F?:;$:=%>%L&
Q%(;,<5,&>?&9(,55=9?5;?&@=,&%&F?E9,;O:F$%&>?F,:;,&:G?&R&$:%;%3&E%5&5$E3&
=E% & ,6%A?(%BG? & D$5;P($F% & F?:;$:=%>%L & ƒ & =E% & 9,5@=$5% & >, & F=:D?&
@=%:;$;%;$#?< &@=%6$;%;$#?3 & F?:5$>,(%:>?& %& (,6%BG? &>$:]E$F% &,:;(, &?& E=:>?&
(,%6&,&?&5=X,$;?&:%&A=5F%&>,&=E%&$:;,(9(,;%BG?&>?&H,:pE,:?&,&%&%;($A=$BG?&
>, &5$*:$H$F%>?5 &^ &F%=5% &>?&H,:pE,:? &8&E,5E% &H?$ &>,5,:#?6#$>%&X=:;? &^5&
9(?H,55?(%5&>%&,5F?6%&,5;%>=%6&>,&'?:;,5&V6%(?50'2&F?E&E%$?(&:ME,(?&>,&
;=(E%5 & >%5 & 5R($,5 & $:$F$%$5 & >? & /:5$:? & )=:>%E,:;%63 & ,E & ijjt3 & %;(%#R5 & >,&
,:;(,#$5;%5&,5;(=;=(%>%5L&_&%9?(;,&;,P($F?&5,&5=5;,:;%3&9($:F$9%6E,:;,3&,E&
+,$*% & .mttv3 & ijjs73 & 2=$E%(G,5 & .ijjg73 & 8E%(%6 & , & +,$*% & .ijji73 & , & /5;(,6%&
.ijji7L&_5&(,5=6;%>?5&$:>$F%E&%&:,F,55$>%>,&>,&E%$?(,5&$:#,5;$E,:;?5&9?(&
9%(;,&>?&/5;%>?&:%&H?(E%BG?&F?:;$:=%>%&>?F,:;,3&=E%&#,J&@=,&?5&H%;?(,5&
,F?:pE$F?5 & , & 5?F$%$5 & ;OE & =E% & $:F$>O:F$% & F?:5$>,(W#,6 & 5?A(, & % & E,5E%L&
/55,5 & $:#,5;$E,:;?5 & >,#,E & F?:;,E96%( & ? & $:*(,55? & ,E & F=(5?5 & >,&
,59,F$%6$J%BG?3&,N;,:5G?&,&H?(E%BG?&,E&5,(#$B?&@=,&%E96$,E&%&@=%6$H$F%BG?&
>?5&9(?H,55?(,5&9%(%&%&9(W;$F%&,>=F%;$#%L&
.;<;=>;?@AB;=C8&[?FO:F$%L&)?(E%BG?&F?:;$:=%>%L&Q(W;$F%&9,>%*P*$F%L
(,XH(,$;%5UD?;E%$6LF?E
=(5=6%6,6$5U$*LF?ELA(
*.!"&(6"&(-'2-&'0*'*b3(*'("0'-)!-8'2-0":6*06(*('"&'0-#'
.!-2"#-#'("'7-!%*26F&'(-2"&)"
\,55$F%&Z%Y%5&Q($:F,
!=J&\$ER:,J&!?J%:?&
!?5 & 9(?F,5?5 & >, & H?(E%F$P: & & ,: & 6?5 & @=, & 9%(;$F$9%: & 6?5 & 9(?H,5?(,5 & >,&
/>=F%F$P: & Q($E%($%3 & D%: & 5$>? & =:% & >, & 6%5 & 9($:F$9%6,5 & ,5;(%;,*$%5 & 9%(%&
9(?9$F$%(&6%&E,X?(%&F?:;$:=%&>,&6%&,>=F%F$P:&E,N$F%:%&Y&9%(%&9(?E?#,(&6%5&
9(,5F($9F$?:,5&>,&6%5&9?6";$F%5&,>=F%;$#%5&E,>$%:;,&&>$#,(5%5&9(?9=,5;%5&>,&
H?(E%F$P:T & 5$: & ,EA%(*? & R5;%5 & & 9(,5,:;%: & >$H$F=6;%>,5 & ,: & (,6%F$P: & F?: & 6%5&
:,F,5$>%>,5&>,&H?(E%F$P:&>,&6?5&9(?H,5?(,5&,:&&5=5&F?:;,N;?5&9%(;$F=6%(,5&Y&
6?5&(,;?5&@=,&&E=,5;(%&6%&,>=F%F$P:&F?:;,E9?(W:,%L
/: & ,5;?5 & ,59%F$?53 & 6?5 & 9(?H,5?(,5 & ,:F=,:;(%: & %>,EW5 & >,6 & >,5%((?66? & >,&
F%9%F$>%>,5 & 9%(% & E,X?(%( & & 5=5 & 9(WF;$F%53 & ?9?(;=:$>%>,5 & >, & F?E9%(;$(&
,N9,($,:F$%5 & Y & %9(,:>,( & F?: & 5=5 & 9%(,53 & F?:5;(=Y,:>? & =:% & F?6,*$%6$>%>&
%=;R:;$F%&@=,&F?:H$*=(%:&>,5>,&5=5&5,:;$>?5&Y&5$*:$H$F%>?5
K,&9(,5,:;%:&%6*=:%5&%9?(;%F$?:,5&>,59(,:>$>%5&>,&6?5&(,5=6;%>?5&>,&=:%&
$:#,5;$*%F$P: & ,;:?*(WH$F% & (,%6$J%>% & ,: & =: & 9(?*(%E% & >, & H?(E%F$P:&
9,(E%:,:;,&,:&=:%&$:5;$;=F$P:&H?(E%>?(%&>,&>?F,:;,5&=A$F%>%&%6&:?(;,&>,&
6%&(,9MA6$F%&E,N$F%:%&,:&6%&F$=>%>&>,&S?((,P:&V?%D=$6%T&5,&%A?(>%&&6?&@=,&
5=F,>,&,:&,5;,&9(?*(%E%&,:&6%&$:;,(%FF$P:&,:;(,&9(?H,5?(,5&>,5>,&6%&@=,&
*,:,(%:&F?6,F;$#?53&6?5&F=%6,5&(,H$,(,:&=:%&(,%6$>%>&5?F$%6&Y&=:%&F=6;=(%&>,&
6% & H?(E%F$P: & F?:5;(=$>% & ,: & ,6 & F(=F, & >, & 5=5 & $:;,(5=AX,;$#$>%>,5 & Y & 6%5&
9(%F;$F%5 & $:5;$;=F$?:%6,5 & % & ;(%#R5 & >, & 6%5 & @=, & 9(?>=F,: & 5= & >,5%((?66?&
%F%>RE$F?&Y&9,(5?:%6&
X,5{%(?6%UD?;E%$6LF?E
6=JX$E,:,JzioUD?;E%$6LF?E
-#'.!-7"##-!"#8'7-!%*45-'"')!*+*01-'(-2"&)"'&-'6&)"!6-!'
(*'70-!"#)*
'%($%&86>,FY&Z?>($*=,5&>,&!$E%&.1)Zb&-&1)8V3&4(%5$67
)?(E%(<5,L&[,5,X?&9(,5,:;$H$F%>?&,:;(,&>?F,:;,5&@=,&#$#,E&?&$5?6%E,:;?3&%&
>$5;]:F$%3&?&E,>?3&%&%:*M5;$%&5?6$;W($%&>?&,N,(F"F$?&>%&9(?H$55G?&:?&$:;,($?(&
>% & H6?(,5;%L & _ & 9(?F,55? & >, & H?(E%BG? & @=, & ?(% & ?5 & $:5F(,#, & E?>,6% & =E%&
(,6%BG?&9(?H,55?(0%6=:?0F?E=:$>%>,L&KG?&X?#,:5&9(?H,55?(,5&@=,&5%"(%E&>%&
F$>%>,&>,$N%:>?&9%(%&;(W5&%&H%E"6$%&-&?&;=>?&@=,&;$:D%EL&[,9%(%E<5,&F?E&%&
F=6;=(%&6?F%6&F=X%&:%;=(,J%&9,:,;(%&%&#$>%&9,55?%6&F?:5;(=$:>?&?=;(%&D$5;P($%L&
8;(%#R5 & >? & QV' & , & >% & ,:;(,#$5;% & 5,E$<,5;(=;=(%>% & ;($6D%E?5 & =E & 9,(F=(5?&
E,;?>?6P*$F?&9%(%&,:;,:>,(&?&>,5,X?&,5F?:>$>?&:?&5$6O:F$?&>%&H6?(,5;%3&%&
9?6";$F%&>,&H?(E%BG?L&855$E3&>,6$:,%E?5&F?E?&?AX,;$#?3&&:,5;,&;,N;?3&(,H6,;$(&
?5&%59,F;?5&>%&H?(E%BG?&>,55,5&9(?H$55$?:%$5&A,E&F?E?&?&H%J,(&>?F,:;,L
.;<;=>;?&AB;=Cc&Q(?H$55G?&>?F,:;,L&/5F?6%5&($A,$($:D%5L&)?(E%BG?L
%6>,FYFJ5U*E%$6LF?E&
(6#23!#-#'.!-(3E6(-#'"'(673&(6(-#'#-+!"'*'7-!%*45-'("'
.!-7"##-!"#'
Z?5%::,&/#%:*,6$5;%&[$%5&.V891)Z\3&4(%5$67
Q?6";$F%5&F=(($F=6%(,5&>%&H?(E%BG?&>,&9(?H,55?(,5&(,5=6;%E&>,&=E%&5R($,&>,&
$:H6=O:F$%5 & ,E & >$H,(,:;,5 & ,5F%6%5L & [$H,(,:;,5 & ;,N;?5 & 9?6";$F?5 & ,:H%;$J%E & ?&
>$5F=(5? & >% & F,:;(%6$>%>, & >% & H?(E%BG? & >?F,:;, & >$%:;, & >%5 & (,H?(E%5&
F=(($F=6%(,5&9(?>=J$>%5&%?&6?:*?&>,&E%$5&>,&;($:;%&%:?5L&_&H?F?&:%&H$*=(%&
>?F,:;, & ;,E & >,5;%F%>? & 9(?9?5$BC,5 & 9,6% & 9(?H$55$?:%6$J%BG? & >?F,:;,3 & 9,6?&
F=(("F=6?&>,&5=%&H?(E%BG?3&9,6%5&%;($A=$BC,5&9(?X,;%>%5&%&,55,&9(?H$55$?:%6&%&
9%(;$( & >%5 & ,N9,F;%;$#%5 & 5?A(, & ? & F=(("F=6? & , & % & ,5F?6%L & S%$5 & >$5F=(5?5 & 5G?&
9(?>=J$>?5 & 9,6%5 & F?E=:$>%>,5 & ,9$5;OE$F%5 & .8:;?:$%>,57 & @=, & #$5%E & %&
9(?>=J$( & 9(?9?5$BC,5 & % & 5,(,E & >$59=;%>%5 & :%5 & >$H,(,:;,5 & %(,:%5 & 9?6";$F%5&
;,:>?&F?E?&?AX,;$#?&%&F?:@=$5;%&>,&=E&9(?X,;?&D,*,Ep:$F?&.[$%53&ijjt7L&
b,5;,&;(%A%6D?3&%:%6$5?&%5&EM6;$96%5&$:H6=O:F$%5&@=,&5,&H%J,E&9(,5,:;,5&:?&
F=(("F=6? & >% & H?(E%BG? & >, & 9(?H,55?(,53 & 9,:5%:>?<%5 & 9%(% & %6RE & >%&
F,:;(%6$>%>,&>?&/5;%>?L&Z,F?:D,B?3&:?5&>$H,(,:;,5&;,N;?5&9?6";$F?53&%&A=5F%&
>%&6,*$;$E%BG?&%&9%(;&$(&>%&%;=%BG?&>,&F?E=:$>%>,5&,9$5;OE$F%5&:%&>$H=5G?&
>%5&$>,$%5&5?A(,&?&F=(("F=6?&>%&H?(E%BG?&>?F,:;,3&:?&]EA$;?&>%5&9?6";$F%5&
9%(% & % & 8ER($F% & !%;$:% & , & ? & V%($A,L & S?>?5 & ,55,5 & %59,F;?5 & 5G? & %:%6$5%>?5&
:,5;, & ;(%A%6D? & ;,:>? & F?E? & ?($,:;%BG? & ;,P($F?<E,;?>?6P*$F% & ? & F$F6? & >,&
9?6";$F%5&.4%667&,&%&;,?($%&>?&>$5F=(5?&9%(%&%:W6$5,&>?&9(?F,55?&>,&%(;$F=6%BG?&
9?6";$F%&>,&>,E%:>%5&.!%F6%=7L
.;<;=>;?@AB;=C8& 9?6";$F%5 & F=(($F=6%(,5T & H?(E%BG? & >, & 9(?H,55?(,5T & ;,N;?5&
9?6";$F?5
(?5%::,U=H(XLA(
*'2-&#)6)3645-'(*'6("&)6(*("'(-2"&)"'"'*'7-!%*45-'
."(*:F:62*'("'.!-7"##-!"#'3&6G"!#6)I!6-#
4(=:?&'?(,;$&S,5;$&.1)_Q3&4(%5$67
VR6$%&b=:,5&.1)_Q3&4(%5$67
'%($%:%&),55,6&.1)_Q3&4(%5$67
8&F?:5;$;=$BG?&>%&$>,:;$>%>,&>?F,:;,3&%55$E&F?E?&?&9(?F,55?&>,&H?(E%BG?&
9,>%*P*$F%&5G?&;,E%5&A%5;%:;,&,N96?(%>?5&,&>,&*(%:>,&$E9?(;]:F$%&>,:;(?&
>?&F%E9?&>,&9,5@=$5%5&%F%>OE$F%5&:%&W(,%&>,&,>=F%BG?3&XW&@=,&F%>%&=E&
>,5;,5&;,E%5&%@=$&(,6%F$?:%>?5&,5;W&F%((,*%>?&>,&=E%&5R($,&>,&,6,E,:;?5&
,&H%;?(,53&9%(;$F=6%(,5&%&F%>%&=E&>,6,5L&8&9(,5,:;,&F?E=:$F%BG?&;,E&9?(&
?AX,;$#? & %9(,5,:;%( & =E & ,5;=>? & @=, & 9(?F=(?= & %:%6$5%( & F%>% & ;,E%3 & :? & @=,&
F?E9,;,E&5=%5&9%(;$F=6%($>%>,53&5,E&9,(>,(&,5;,&F%(W;,(&>,&F?:#,(*O:F$%&
,:;(,&?5&>?$5&?AX,;?5&>,&,5;=>?5&%&9%(;$(&>,&>%>?5&?A;$>?5&X=:;?&%&=E&*(=9?&
>,&9(?H,55?(,5&=:$#,(5$;W($?5L&_&>,5,:#?6#$E,:;?&>,5;%&9,5@=$5%&(,F?((,=&%&
=E% & E,;?>?6?*$% & >, & %A?(>%*,E & @=%:;$;%;$#% & , & @=%6$;%;$#%3 & :% & @=%6&
F?:5$>,(%:>? & % & ;?;%6$>%>, & >?5 & 9(?H,55?(,5 & >, & =E% & $:5;$;=$BG? & 9=A6$F% & >,&
,:5$:?& 5=9,($?( &A(%5$6,$(%3 & H?$ & $>,:;$H$F%>% &=E% &%E?5;(% & (,9(,5,:;%;$#% & >,&
>?F,:;,5&@=,&(,59?:>,(%E&%&=E&@=,5;$?:W($?&5,E$<%A,(;?L&89(,5,:;%&%55$E&
% & %:%6$5, & >?5 & 9(?F,55?5 & , & (,5=6;%> & ?5 & >, & =E% & 9,5@=$5% & @=, & ;,E & F?E?&
,6,E,:;? & F,:;(%6 & ?5 & 9(?H,55?(,5 & >? & ,:5$:? & 5=9,($?( & Q,6% & H,(;$6$>%>,&
,:F?:;(%>% & :,5;% & W(,% & />=F%F$P:%63 & A=5F%E?5 & F?E & ? & >,5,:#?6#$E,:;?&
>,5;, & ,5;=>?3 & F?:;($A=$( & F?E & ? & >,5,:#?6#$E,:;? & >? & F%E9? & >% & 9,5@=$5%&
#?6;%>?&9%(%&%&>?FO:F$%&:?&,:5$:?&5=9,($?(L
.;<;=>;@AB;=C8& )?(E%BG? & 9,>%*P*$F%T & e>,:;$>%>, & >?F,:;,T & /:5$:?&
K=9,($?(T&Q(?H$55G?&>?F,:;,L
A(=:?E?(,;$UA?6LF?ELA(
FEH:=:,5U*E%$6LF?E
EEAH,55,6UY%D??LF?ELA(
7-!%*45-'2-&)6&3*(*'(-#'.!-7"##-!"#8'!"G6#*&(-'e'
.!F.!6*'"H."!6Z&26*'.*!*'3%*'&-G*'."!#."2)6G*
\%:%$:%&>%&V?:F,$BG?&'%(;$:5&K$6#%&.1/'23&4(%5$67&
2,?#%::%&Q%55?5&[=%(;,&.V/)/S0'23&4(%5$67
V?:5$>,(%:>? & % & F?E96,N$>%>, & @=, & ,:#?6#, & % & H?(E%BG? & F?:;$:=%>%3&
(,%6$J?=<5,&=E%&9,5@=$5%&>,&,:H?@=,&@=%6$;%;$#?&X=:;?&%&mg&9(?H,55?(,5&>?&
/:5$:?&)=:>%E,:;%6&>%&5,N;%&^&:?:%&5R($,53&$:$F$%:;,5&,&,E&F%((,$(%3&@=,&
%;=%E & ,E& ,5F?6%5 & >%& (,>, &9MA6$F% & , & 9%(;$F=6%( &>, & 4,6?& I?($J?:;,3 &'$:%5&
*,(%$5L&V?E?&=E&9(?F,55?&>,&%9(,:>$J%*,E&9,(E%:,:;,3&%&9,5@=$5%&5?A(,&
% & H?(E%BG? & ;,#, & F?E? & (,H,(O:F$% & % & (,%6$>%>, & >?5 & 9(?H,55?(,53 & 5=%5&
#$#O:F$%53 & 5=%5 & 9(W;$F%5 & 9,>%*P*$F%5 & , & % & ,5F?6% & F?E? & 6?F%6 & 9($#$6,*$%>?&
9%(%&,55%&H$:%6$>%>,L&b?&,:;%:;?3&%9,5%(&>%&H?(E%FG?&F?:;$:=%>%&5,(&9%(;,&
>,&=E&>,5,X?3&=E%&>,E%:>%&,&=E%&:,F,55$>%>,3&,N$5;,E&>$H$F=6>%>,5&9%(%&
% & ,5F?6% & F?:5;$;=$(<5, & F?E? & =E & 6?F%6 & 9($#$6,*$%>? & >, & =E & 9,:5%( & , & H%J,(&
F(";$F?<(,H6,N$#? & , & ;(%:5H?(E%>?( & >,55% & H?(E%BG?3 & ,E & #$(;=>, & >% & F%(*%&
D?(W($%3&>?5&5%6W($?53&>%&H%6;%&>,&(,F?:D,F$E,:;?&9(?H$55$?:%6&,&>%&H%6;%&>,&
=E & 9(?X,;? & >, & 6?:*? & 9(%J? & 9?( & 9%(;, & >%5 & ,5F?6%5 & , & >%5 & K,F(,;%($%5 & >,&
/>=F%BG?L&
.;<;=>;?@AB;=C8& )?(E%BG? &F?:;":=% &>, &9(?H,55?(,5L &)?(E%BG? &(,H6,N$#%L&
/5F?6%&F?E?&6=*%(&>,&H?(E%BG?L
X%:%$:%F:$:D%UY%D??LF?ELA(
*,?#%::%L9%55?5U*E%$6LF?E
7-!%*45-'2-&)6&3*(*'(-#'.!-7"##-!"#8'G6#*&(-'e'.!F.!6*'
"H."!6Z&26*'.*!*'3%*'&-G*'."!#."2)6G*
\%:%$:%&>%&V?:F,$BG?&'%(;$:5&K$6#%&.1/'23&4(%5$67
V?:5$>,(%:>? & % & F?E96,N$>%>, & @=, & ,:#?6#, & % & H?(E%BG? & F?:;$:=%>%3&
(,%6$J?=<5,&=E%&9,5@=$5%&>,&,:H?@=,&@=%6$;%;$#?&X=:;?&%&mg&9(?H,55?(,5&>?&
/:5$:?&)=:>%E,:;%6&>%&5,N;%&^&:?:%&5R($,53&$:$F$%:;,5&,&,E&F%((,$(%3&@=,&
%;=%E & ,E& ,5F?6%5 & >%& (,>, &9MA6$F% & , & 9%(;$F=6%( &>, & 4,6?& I?($J?:;,3 &'$:%5&
*,(%$5L&V?E?&=E&9(?F,55?&>,&%9(,:>$J%*,E&9,(E%:,:;,3&%&9,5@=$5%&5?A(,&
% & H?(E%BG? & ;,#, & F?E? & (,H,(O:F$% & % & (,%6$>%>, & >?5 & 9(?H,55?(,53 & 5=%5&
#$#O:F$%53 & 5=%5 & 9(W;$F%5 & 9,>%*P*$F%5 & , & % & ,5F?6% & F?E? & 6?F%6 & 9($#$6,*$%>?&
9%(%&,55%&H$:%6$>%>,L&b?&,:;%:;?3&%9,5%(&>%&H?(E%FG?&F?:;$:=%>%&5,(&9%(;,&
>,&=E&>,5,X?3&=E%&>,E%:>%&,&=E%&:,F,55$>%>,3&,N$5;,E&>$H$F=6>%>,5&9%(%&
% & ,5F?6% & F?:5;$;=$(<5, & F?E? & =E & 6?F%6 & 9($#$6,*$%>? & >, & =E & 9,:5%( & , & H%J,(&
F(";$F?<(,H6,N$#? & , & ;(%:5H?(E%>?( & >,55% & H?(E%BG?3 & ,E & #$(;=>, & >% & F%(*%&
D?(W($%3&>?5&5%6W($?53&>%&H%6;%&>,&(,F?:D,F$E,:;?&9(?H$55$?:%6&,&>%&H%6;%&>,&
=E & 9(?X,;? & >, & 6?:*? & 9(%J? & 9?( & 9%(;, & >%5 & ,5F?6%5 & , & >%5 & K,F(,;%($%5 & >,&
/>=F%BG?L&
.;<;=>;?@AB;=C8& )?(E%BG? &F?:;":=% &>, &9(?H,55?(,5L &)?(E%BG? &(,H6,N$#%L&
/5F?6%&F?E?&6=*%(&>,&H?(E%BG?L
X%:%$:%F:$:D%UY%D??LF?ELA(
*#'03)*#'2-&2-!!"&26*6#'&*'!"7-!%*'(*#'062"&26*)3!*#'(*'
37%:8'3%'"%+*)"'("'2-&2".49"#
[$?*?&VR5%(&Q,(,$(%&.1)'23&4(%5$67
/5;, & ;(%A%6D? & ;,E & 9?( & ?AX,;$#? & F?E9(,,:>,( & , & ,N96$F%( & %5 & (,H?(E%5 & >?5&
F=(5?5&>,&6$F,:F$%;=(%&>%&1)'2&$E96,E,:;%>%5&:?&9,("?>?&>,&ijji&%&ijjtL&
V?E & A%5, & :%5 & [$(,;($J,5 & V=(($F=6%(,5 & b%F$?:%$5 & 9%(% & % & H?(E%BG? & >,&
9(?H,55?(,5&9%(%&%&,>=F%BG?&AW5$F%&,&:%&%:W6$5,&>%5&E%;($J,5&F=(($F=6%(,5&
$E,>$%;%E,:;, & %:;,($?(,5 & , & 9?5;,($?(,5 & ^ & H?(E=6%BG? & >%5 & Z,5?6=BC,5 & >?&
'/V3&9(,;,:>,&$>,:;$H$F%(&?5&>$#,(5?5&9%>(C,5&%>?;%>?5&9,6?5&F=(5?5&,&%5&
(,59,F;$#%5&,5;(%;R*$%5&?(;?>?N%5&?=&D,;,(?>?N%5&(,6%F$?:%>%5L&/5;,&,5;=>?&
=;$6$J% & % & ;,?($% & >?5 & F%E9?5 & 5?F$%$5 & >, & Q$,((, & 4?=(>$,= & F?E? & (,H,(,:F$%6&
;,P($F?L & Q?( & H$E3 & %#%6$% & ? & ,H,$;? & >% & F%(*% & D?(W($% & >?5 & ,5;W*$?5&
5=9,(#$5$?:%>?5&5?A&?&(,5=6;%>?&H$:%6&>%&(,H?(E%L
.;<;=>;?@AB;=C8& )?(E%BG? & >, & Q(?H,55?(,5T & V%E9? & 1:$#,(5$;W($?T & !=;%5&
V?:F?((,:F$%$5L
>$?*?F9mhjgU*E%$6LF?E
3%*'"H."!6Z&26*'("'7-!%*45-'2-&)6&3*(*'&-'6&)"!6-!'(*'
"#2-0*
\%F@=,6$:,&>,&)%;$E%&>?5&K%:;?5&'?(%$5&.1/Z\3&4(%5$67
/5;,&;(%A%6D?&;,E&F?E?&H?F?&%6*=:5&>?5&>%>?5&9(?>=J$>?5&,E&=E%&9,5@=$5%&
@=%6$;%;$#% & #$#$>% & >, & mtts & % & ijjsL & /55, & ;,E9? & ;(W5 & =E% & ?($*$:%6$>%>, & W&
$:#,5;$*%BG? & 9?$5 & @=, & D,*,E?:$F%E,:;, & %5 & 9,5@=$5%5 & ,E & ,>=F%BG? & 5,&
H%J,E&,E&F=(;?5&9(%J?5L&S,#,&F?E?&5=X,$;?53&=E&*(=9?&>,&F,(F%&>,&@=$:J,&
9(?H,55?(%5&>%5&5R($,5&$:$F$%$5&>?&,:5$:?&H=:>%E,:;%6&>,&=E%&,5F?6%&9MA6$F%&
>? & Z$? & >, & \%:,$(?L & 8 & %:W6$5, & >?5 & >%>?5 & >,5;% & ,N9,($O:F$% & >, & H?(E%BG?&
F?:;$:=%>% & :?5 & 9,(E$;$= & %H$(E%( & ? & F?;$>$%:? & ,5F?6%( & F?E? & 6PF=5 & >,&
F?:5;(=BG? & >, & 5%A,(,5 & EM6;$96?53 & ,59%B?<;,E9? & >, & D$5;P($%53 & 6=*%(&
9($#$6,*$%>? & >, & $:#,5;$*%BG? & >%5 & 9(?H,55?(%5 & %6H%A,;$J%>?(%5 & @=, & #G? & 5,&
%55=E$:>? &F?E? & 9,5@=$5%>?(%5 & >, &5=% & 9(P9($% &9(W;$F% &, & 5, & H?(E%:>? & >,&
E%:,$(% & 5?6$>W($% & , & :G? & 5?6$;W($%L & /55% & %55=:BG? & ;,E & 9?55$A$6$;%>? & ^5&
9(?H,55?(%5 & #,(,E & 5,= & F?;$>$%:? & F?E? & 6PF=5 & >, & F?:5;(=BG? & >, & 5%A,(,53&
,59%B?<;,E9?& >,&EM6;$96%5&D$5;P($%5&,&,N9,($O:F$%5L&/5;%&$:#,5;$*%BG?&:?5&
9?55$A$6$;?= & %$:>% & F?6?F%( & ,E & >$W6?*? & F(";$F? & =E & E?>,6? & >, & H?(E%BG?&
F?:;$:=%>%&%$:>%&D,*,Ep:$F?&,&D$5;?($F%E,:;,&9(?>=J$>?3&@=,&;?E%&F?E?&
;,N;?5&E?>,6%(,5&,&F,:;(?&>%&H?(E%BG?3&,N9,($O:F$%5&,&:%((%;$#%5&$:59$(%>%5&
:?5&H%J,(,5&,&>$J,(,5&>?5&H?(E%>?(,5L&[,5;%F%E?5&%$:>%&:,5;%&,N9,($O:F$%&
>, & H?(E%BG? & ? & 5,= & F%(W;,( & $:5;$;=$:;,3 & 9(?>=;?( & >, & :?#%5 & 9(W;$F%5 & >,&
H?(E%BG?&F?:;$:=%>%&>,&9(?H,55?(%53&@=,&;,E&F?E?&9,(59,F;$#%3&9(?F,55?5&
H?(E%;$#?5&>?F,:;,5&F,:;(%>?5&:%&,5F?6%L
.;<;=>;?@AB;=C8&H?(E%BG?&F?:;$:=%>%3&:%((%;$#%3&9(W;$F%&%6H%A,;$J%>?(%L
X%F@=,6$:,E?(%$5UD?;E%$6LF?E
:"#)5-'"'7-!%*45-'(-2"&)"'&-'r%+6)-'(-'%3&(3#7-!
VD($5;$%:&'=6,{%&'|,|%&.1:$#,(5$>%>,&),>,(%6&>,&K%:;%&V%;%($:%3&4(%5$67
8:%&e:R5&Z,:;%&[%#$>5&.1:$#,(5$>%>,&Z?#$(%&$&+$(*$6$3&/59%:D%7
8A=>?&'%FD=>,&.1:$#,(5$>%>,&/>=%(>?&'?:>6%:,3&'?B%EA$@=,7
8:%6$5%E?5 & %6*=:5 & %59,F;?5 & >% & ,5;(=;=(% & ?(*%:$J%;$#% & , & >?5 & E,F%:$5E?5&
;,P($F?<E,;?>?6P*$F?5&9%(%&%&*,5;G?&>%&H?(E%BG?&>,&8>=6;?5L&8&%:W6$5,&,E&
@=,5;G? & ,5;W & F,:;(%>% & ,E & >?$5 & F,:;(?5 & >, & )?(E%BG?3 & % & 5%A,(3 & % & /5F?6%&
Q(?H$55$?:%6&>?&'$:D?&.Q?(;=*%67&,&%&85?F$%F$P&9,(&%&6%&Q(?E?F$P&_F=9%F$?:%6&
$&K?F$%6 &./59%:D%7L&Q%(% &;%:;?3&:?5&#%6,E?5&>%&9%(;$F$9%BG? &,&?A5,(#%BG?&
>$W($% & :?5 & `>,9%(;%E,:;?5a & >, & ,>=F%BG? & , & H?(E%BG? & >, & %>=6;?5 & :?5&
(,H,($>?5 & F,:;(?5L & 8(*=E,:;%E?5 & @=, & % & H?(E%BG?3 & :? & F?:;,N;? & >%&
/59(?'$:D? & , & >% & 8QS_K3 & H$*=(% & F?E? & ? & 9,(E%:,:;, & >$W6?*? & ,:;(, & %5&
,N9,($O:F$%5&F%5,$(%5& >?5&H?(E%:>?5&,&%@=,6%5&@=,&9?>,E&$E9=65$?:W<6?5&
9%(% & %@=$5$BG? & >, & :?#%5 & D%A$6$>%>,5 & 9(?H$55$?:%$53 & F=6;=(%$53 & 9?6";$F%5 & ,&
5?F$%$5L&Q?(;%:;?3&:,5;,5&F,:;(?53&%&H?(E%BG?&9%55%&%&5,(&?&E?#$E,:;?&>%>?&
%?&XW&F?:D,F$>?&@=,&5,&E?>$H$F%&,E&F?:;%;?&F?E&?&:?#?L&/5;,&R&>,5:=>%>?&
:?&>$W6?*?&,5;%A,6,F$>?&,:;(,&?5&H?(E%:>?53&?5&H?(E%>?(,53&?&F?:;,N;?&,&
;?>?5&?5&,:#?6#$>?5&:?&9(?F,55?&H?(E%;$#?L
.;<;=>;?@AB;=C8&2,5;G?&<&)?(E%BG?&<&8>=6;?5&-&Q?(;=*%6&<&/59%:D%L
%H(?E=6,{%UY%D??LH(
-#'"#)I:6-#'23!!6230*!"#'#3."!G6#6-&*(-#'"'*'7*230(*("'
("'"(32*45-'&*'*)3*0'!"7-!%*'&*#'062"&26*)3!*#'(*'37%:
2%A($,6&',:,J,5&+$%:%&.1)'23&4(%5$67
[$?*?&V,5%(&Q,(,$(%&.1)'23&4(%5$67
_ & 9(,5,:;, & %(;$*? & %A?(>% & % & 5$;=%BG? & >?5 & ,5;W*$?5 & 5=9,(#$5$?:%>?5 & >?5&
F=(5?5&>,&!$F,:F$%;=(%&>%&1)'2&,E&ijjkL&8&X=5;$H$F%;$#%&>,5;,&%:?&F?:5$5;,&
:? & H%;? & >,6, & (,9(,5,:;%( & ? & 9(%J? & EWN$E? & F?:F,>$>? & %?5 & F=(5?5 & 9%(%&
%9(?#%(,E & %5 & %6;,(%BC,5 & F=(($F=6%(,5 & ,N9?5;%5 & :%5 & [$(,;($J,5 & V=(($F=6%(,5&
b%F$?:%$5&>,&ijji&.Z,5?6=BC,5&Vb/0VQ&m&,&i0ijji7L&8&,5F?6D%&>?&,5;W*$?&5,&
>,#,&9?(&5,(&,5;,&=E&E?E,:;?&M:$F?&>%&H?(E%BG?&>?&H=;=(?&9(?H,55?(3&:?&
@=%6 & R & (,%6$J%>% & % & $:5,(BG? & >? & 6$F,:F$%:>? & :% & ,5F?6% & AW5$F%3 & %6RE & >?&
>,5;%@=,&>%>?&9,6%&:?#%&6,*$56%BG?L
V?E & A%5, & :%5 & E%;($J,5 & F=(($F=6%(,5 & >?5 & F=(5?5 & >, & !$F,:F$%;=(% & , & :?5&
(,59,F;$#?5 & ,E,:;W($?53 & H?(:,F$>?5 & 9,6?5 & F?6,*$%>?53 & ;?(:?=<5, & 9?55"#,6&
%9(,,:>,( & % & 5$;=%BG? & >%5 & 6$F,:F$%;=(%5 & :? & E?E,:;? & >%5 & (,H?(E%5L&
V?:5,@=,:;,E,:;, & H?$ & 9?55"#,6 & >,;,F;%( & @=, & %9,:%5 & F$:F? & >%5 & F%;?(J,&
6$F,:F$%;=(%5&>%&1)'2&%9(?#%(%E&:?#%5&E%;($J,5&F=(($F=6%(,5&:,55,&9(%J?L&
8:%6$5%:>? & ,NF6=5$#%E,:;, & ? & E?>? & 9,6? & @=%6 & ,55,5 & F=(5?5 & ?(*%:$J%(%E&
5,=5 & ,5;W*$?5 & 5=9,(#$5$?:%>?53 & :?;?=<5, & % & (,9(?>=BG? & >?5 & 9%>(C,5 & >,&
?(*%:$J%BG? & >?5 & ,5;W*$?5 & :%5 & E%;($J,5 & F=(($F=6%(,5 & %:;,($?(,5L & Q?( & H$E3&
9(,;,:>,<5, &%9?:;%(&9?55"#,$5&,#$>O:F$%5&,N96$F%;$#%5 &>,55, &;(%B? &F?E=E&
>%5&(,H?(E%5&F=(($F=6%(,5L
.;<;=>;?'AB;=C8'!$F,:F$%;=(%T&/5;W*$?&K=9,(#$5$?:%>?T&Z,H?(E%&V=(($F=6%(L&
*%A($,6E,:,J,5#$%:%U*E%$6LF?E
>$?*?F9mhjgU*E%$6LF?E
7-!%*45-'(-'.!-7"##-!'("':"-:!*76*'&-'+!*#608'
2-&76:3!*49"#'.-0O)62-@6&#)6)326-&*6#'"'!"."!23##9"#'&-'
"&#6&)(%:F$5F?&>%5&VD%*%5&Z?>($*=,5&>%&K$6#%&.1)Qe3&4(%5$67
8 & H?(E%BG? & >? & 9(?H,55?( & >, & 2,?*(%H$% & :? & 4(%5$6 & %9(,5,:;%<5, & ,:#?6#$>%&
;%:;?&9,6%5&@=,5;C,5&(,6%;$#%5&^&H?(E%BG?&>?F,:;,&>,&E?>?&*,(%6&@=%:;?&
9,6%5&@=,5;C,5&(,6%;$#%5&^&2,?*(%H$%&,5F?6%(L&855$E3&9,:5%(&%&H?(E%BG?&>?&
9(?H,55?(&>,&2,?*(%H$%&5$*:$H$F%&9,:5%(&%&9(W;$F%&>?F,:;,&,3&>,55,&E?>?3&%&
9(?H$55G? & >?F,:;, & :% & 5?F$,>%>, & F?:;,E9?(]:,%L & [,55% & H?(E%3 & %9(,5,:;?&
%6*=E%5 & @=,5;C,5 & , & (,H6,NC,5 & %F,(F% & >% & H?(E%BG? & >? & 9(?H,55?( & >,&
2,?*(%H$%&:?&4(%5$63&F?:5$>,(%:>?&5=%5&F?:H$*=(%BC,5&9?6";$F?<$:5;$;=F$?:%$5&
, & 5=%5 & $E96$F%BC,5 & :? & ;(%A%6D? & >? & 9(?H,55?( & ,3 & F?:5,@=,:;,E,:;,3 & :?&
,:5$:?&>?&F?:D,F$E,:;?&*,?*(WH$F?&:%&,5F?6%&>,&,>=F%BG? &AW5$F%L &b,55,&
5,:;$>?3&$:;,:;?&%:%6$5%(&F($;$F%E,:;,&%5&F?:H$*=(%BC,5&9?6";$F?<$:5;$;=F$?:%$5&
>%&H?(E%BG? &>?&9(?H,55?( &>, &2,?*(%H$%&:? &4(%5$6 &, &5=%5 &(,9,(F=55C,5 &:?&
,:5$:?&>,&2,?*(%H$%&:%&,>=F%BG?&AW5$F%3&%&9%(;$(&>%5&H?(E=6%BC,5&;,P($F?<
F?:F,$;=%$5&>,&%=;?(,5&F?E?&4(%A%:;&.ijjm73&…%,(FD,(&.ijjk3&ijjg3&ijjh%3&
ijjhA73 & _6$#,$(% & .ijjm73& Q?:;=5FD{%3 & Q%*%:,66$ & ˆ & V%F,;, & .ijjo73 & Z?FD%&
.ijjj73&+,5,:;$:$&.ijjo3&ijjk%3&ijjkA3&ijjm73&,:;(,&?=;(?5L&8&9%(;$(&>,5;,&
@=%>(?&>,&(,H,(O:F$%3&$:>$F?&%&:,F,55$>%>,&>,&5,&(,#,(&,&(,>$E,:5$?:%(&%5&
F?E9?5$BC,5 & F=(($F=6%(,53 & ? & 6=*%( & >% & 2,?*(%H$% & :% & ,5F?6% & AW5$F%3 & %5&
>$(,;($J,5 & >, & H?(E%BG? & , & %5 & 9?6";$F%5 & >, & #%6?($J%BG? & 9(?H$55$?:%63&
F?:5$>,(%:>? & @=, & % & H?(E%BG? & >? & 9(?H,55?( & %9(,5,:;%<5, & F?E? & ,6,E,:;?<
FD%#,&>%&9(?A6,EW;$F%&/>=F%F$P:%6&,3&:,5;,&F%5?&,59,F"H$F?3&>?&,:5$:?&>,&
2,?*(%H$%L
.;<;=>;?@AB;=C?c & )?(E%BG? & >, & 9(?H,55?(,5 & >, & 2,?*(%H$%L & /:5$:? & >,&
2,?*(%H$%L&S(%A%6D?&>?F,:;,L
H(%:F$5F?F(5$6#%U*E%$6LF?E
.-06)62*#'("'7-!%*45-'(-2"&)"8'.!-,")-#'6&-G*(-!"#
'%($%&_>,;;,&>,&Q%=6$&4,;;,*%&.1)QZ3&4(%5$67
86A?:$&'%($5%&[=>,@=,&Q$%:?#5{$&+$,$(%&.Q1VQZ3&4(%5$67
S(%;%<5,&>,&9,5@=$5%&F?E&?&?AX,;$#?&>,&$:#,5;$*%(&F?E?&?5&9(?H,55?(,5&>%&
Z,>,&'=:$F$9%6&>,&/:5$:?&>,&V=($;$A%3&:?&4(%5$63&%?&(,%6$J%(,E&5=%&H?(E%BG?&
F?:;$:=%>%&,E&5,(#$B?3&>,5,:#?6#,E&9(?X,;?5&,E&5%6%&>,&%=6%&,:#?6#,:>?&
@=,5;C,5&#$:F=6%>%5&^&5%M>,&,&^&A$?>$#,(5$>%>,3&,E&%A?(>%*,E&;(%:5#,(5%6L&
w=,(<5,&5%A,(&%;R&@=,&9?:;?&9(?X,;?5&$:?#%>?(,53&,5;$E=6%>?5&,&H$:%:F$%>?5&
9,6? & 5,;?( & 9MA6$F?3 & A%5,%>?5 & :% & ;(%:5#,(5%6$>%>,3 & 9?>,E & %=N$6$%( & ?5&
9(?H,55?(,5&:%&F?:5,F=BG?&>?&9(?X,;?&9,>%*P*$F?&:%5&,5F?6%5&>,&,>=F%BG?&
AW5$F%3&>,&m‰&%&g‰&5R($,5L&85&,;%9%5&9,(F?(($>%5&9,6?&;(%A%6D?&H?(%Ec&5,6,BG?&
>, & 9(?X,;?5 & >, & 9,5@=$5% & %9(,5,:;%>?5 & 9,6?5 & 9(?H,55?(,5T & ?($,:;%BG? & ,&
%F?E9%:D%E,:;?&>%&,N,F=BG?&>?5&9(?X,;?5&,5F?6D$>?53&>=(%:;,&?&9,("?>?&
>,&@=%;(?&E,5,5T&>$5F=55G?&,&%:W6$5,&>,&(,5=6;%>?5&?A;$>?5L&8&(,6,#]:F$%&,&
9,(;$:O:F$% & >? & ;(%A%6D? & 5, & X=5;$H$F%E & 9?( & 5, & ;(%;%( & >, & ;,E% & %;=%63&
F?:F(,;$J%>? & 9,6% & 9(?E?BG? & >, & %BC,5 & $:;,*(%>%5 & ,:;(, & ? & *?#,(:? & , & %&
5?F$,>%>, & F$#$63 & %6$%>%5 & % & %E96% & >$5F=55G? & 5?A(, & 9?55$A$6$>%>,5 & ,&
$E96$F%BC,5&>?&;(%A%6D?&F?E&?&F=(("F=6?3&%&H?(E%BG?&>?F,:;,3&%&9,5@=$5%&,&%&
;(%:5#,(5%6$>%>,L & [?F=E,:;?5 & ?H$F$%$5 & , & ,5;=>?5 & (,F,:;,5 & F?E? & ?5 & >,&
4=5@=,;5&ˆ&!,%6&.ijjj73&V?66&.ijji73&Š=5&.mttv7&,&'?(,:?&.mtth7&5,(#$(%E&
>, & %9?(;, & ^ & 9,5@=$5%L & _5 & (,5=6;%>?5 & >% & 9(?9?5;% & $:?#%>?(% & 9=>,(%E & 5,(&
F?:5;%;%>?5&9?(&E,$?&>%&%:W6$5,&>?5&(,6%;P($?5&%9(,5,:;%>?5L&
.;<;=>;?@AB;=C8')?(E%BG?&>?F,:;,T&Q?6";$F%5T&S(%:5#,(5%6$>%>,
EA,;;,*%U;,((%LF?ELA(
%6A?:$U%6A?:$LF?E
(6!")!6E"#'&*26-&*6#'.*!*'-#'23!#-#'("'7-!%*45-'("'
.!-7"##-!"#'.*!*'*'"(32*45-'+I#62*'&-'+!*#608'(*'
!":30*%"&)*45-'*-#'.!-,")-#'6&#)6)326-&*6#
!,>%&KFD,$A,&.1)KV3&4(%5$67
+,(%&!MF$%&4%JJ?&.1)KV3&4(%5$67
_&9(,5,:;,&%(;$*?&>$5F=;,&%&(,H?(E%&>?5&F=(5?5&>,&)?(E%BG?&>,&Q(?H,55?(,5&
>%&/>=F%BG?&4W5$F%3&,E&:"#,6&5=9,($?(3&:?&4(%5$6&%&9%(;$(&>,&>?$5&F%E9?5c&?&
?H$F$%6&,&?&$:5;$;=F$?:%6L&85&[$(,;($J,5&V=(($F=6%(,5&b%F$?:%$5&9%(%&%&)?(E%BG?&
>, & Q(?H,55?(,5 & >% & />=F%BG? & 4W5$F% & ,E & b"#,6 & K=9,($?(3 & V=(5? & >,&
!$F,:F$%;=(%3 & >, & 2(%>=%BG? & Q6,:% & .Z,5?6=BG? & Vb/0VQ & m0ijji73 & %9(?#%>%5&
F?E&A%5,&:?&Q%(,F,(&>?&Vb/0VQ&jjt0ijjm3& (,9(,5,:;%E&?5&;,N;?5&?H$F$%$5&
>,55% & (,H?(E%L & b? & F%E9? & $:5;$;=F$?:%6 & 5=(*,E & %5 & 9(?9?5;%5 & >, & E%;($J,5&
F=(($F=6%(,5 & 9%(% & ?5 & F=(5?5L & V?:H$(E%<5, & ? & 9(,55=9?5;? & >, & @=, & ?5 & >?$5&
F%E9?5 & 5, & F?:5;$;=,E & ,E & $:5;]:F$%5 & >, & (,*=6%BG? & :%5 & @=%$5 & 5,&
,5;%A,6,F,E & E,>$%BC,5 & ,:;(, & % & 6,*$56%BG?3 & ?5 & $:;,(,55,5 & ,:#?6#$>?5 & , & %5&
F?:F,9BC,5&9?5;%5&:?5&E?E,:;?5&>%&F?:5;(=BG?&>%5&E%;($J,5&F=(($F=6%(,5&,&
>?5&9(?X,;?5&9,>%*P*$F?5L&85&>$(,;($J,5&H?(%E&F?:5;$;=">%5&:=E&F%E9?&>,&
:,*?F$%BG? & ,:;(, & ?5 & >$#,(5?5 & %;?(,5 & @=, & >,6, & 9%(;$F$9%(%ET & %5 & E%;($J,5&
F=(($F=6%(,5&>%5&$:5;$;=$BC,5&%;,:>,E&D?X,&%9,:%5&,E&9%(;,&^5&>,H$:$BC,5&
>%>%5&9,6%5&[VbQL&V?:F6=$<5,3&9?(&=E&6%>?3&@=,&%5&>,;,(E$:%BC,5&?H$F$%$5&
F%(,F,E&>,&E%$?(&,N96$F$;%BG?T &,&9?(&?=;(?3&@=,&%&$:5;$;=F$?:%6$J%BG?&>%5&
>$(,;($J,5 & :?5 & F=(5?5 & :,F,55$;% & >, & E%$?( & 5=9,(#$5G? & , & ($*?( & ,E & 5=%&
$E96%:;%BG?L&&&
.;<;=>;?@2B;=C8 ')?(E%BG? & >, & Q(?H,55?(,5 & 9%(% & % & />=F%BG? & 4W5$F% & -&
[$(,;($J,5&V=(($F=6%(,5&-&Z,*=6%E,:;%BG?&,&eE96%:;%BG?L
65FD,$A,U=?6LF?ELA(
&#A%JJ?U*E%$6LF?E
"0'6&#)6)3)-'&*26-&*0'("'7-!%*26F&'(-2"&)"'"&'0*'
*!:"&)6&*8'"0'2-&)"&6(-'b'0*'7-!%*'("'#3#'.-06)62*#'
Z%M6&8L&',:*D$:$&.1bK3&8(*,:;$:%7
V%(?6$:%&),(:W:>,J&V?($%&.1bK3&8(*,:;$:%7
[,5>, &6%& F(,%F$P: &>,6 &e:5;$;=;? &b%F$?:%6 & >, & )?(E%F$P: & [?F,:;, & .eb)[7 & ,:&
ijjk3&5,&D%&,:;(%>?&,:&=:%&:=,#%&,;%9%&>,&9?6";$F%5&9%(%&6%&H?(E%F$P:&>,&
>?F,:;,5&,:&6%&8(*,:;$:%&E%(F%>%&9?(&6%&5?A(,<(,*=6%F$P:&Y&6%&9(?6$H,(%&F$P:&
>, & 9(?*(%E%5 & F?: & H$:%:F$%E$,:;? & F?:F=(5%A6, & @=, & *,:,(%: & $E9%F;?5&
9%(F$%6,5 & ? & 5,F;?($%6,5L & /5;%5 & 9?6";$F%5 & $:;,:;%: & >$H,(,:F$%(5, & >, & 6%5 & >, & 6%&
>RF%>% & %:;,($?(3 & ;%6 & F?E? & D% & 9(,;,:>$>? & D%F,(6? & ,6 & *?A$,(:? & :%F$?:%6 & ,:&
>$#,(5%5 & W(,%53 & H=:>%E,:;%6E,:;, & % & 9%(;$( & >, & 96%:;,%( & =: & (?6 & %F;$#? & >,6&
/5;%>?&:%F$?:%63&6?&@=,&D%&;(%">?&%9%(,X%>?&=:%&F,:;(%6$J%F$P:&%M:&E%Y?(&,:&
6%5 & >,F$5$?:,5 & 9?6";$F%5 & 9%(% & ,6 & 5,F;?(L & /:;(, & 6%5 & E=FD%5 & Y & #%($%>%5&
(,*=6%F$?:,5&>,6&eb)[&5,&>,5;%F%:&%6*=:%5&@=,&(,5=6;%:&5,(&:?>%6,5&9%(%&,6&
5$5;,E% & H?(E%>?( & ,: & 5=5 & >$5;$:;%5 & >$E,:5$?:,5 & .F=(($F=6%(3 & ?(*%:$J%;$#%3&
%F%>RE$F%3 & ,;FL7 & Y & @=, & %#%:J%: & H=,(;,E,:;, & 5?A(, & 6%5 & %=;?:?E"%5&
X=($5>$FF$?:%6,5L & /: & ,5;, & ;(%A%X? & 5, & %:%6$J%: & %6*=:%5 & >, & ,66%5 & @=,&
F?:5$>,(%E?5 &EW5&(,6,#%:;,5&,:&,5;%&6":,%&9%(%&6=,*?&>%(&F=,:;%&>, &6%5&
F%(%F;,("5;$F%5&@=,&,5;W:&%5=E$,:>?&6%5&9?6";$F%5&>,&H?(E%F$P:&>,&>?F,:;,5&
,:&6%&8(*,:;$:%&,:&,5;?5&M6;$E?5&%l?53&;%:;?&,:&5=5&F?:;,:$>?5&F?E?&,:&5=5&
H?(E%5L
E,:*D$:$U=:5L,>=L%(
FHF?($%UF($A%L,>=L%(
(-2Z&26*'3&6G"!#6)I!6*8'"0"%"&)-#'.*!*'3%*'%"01-!'
2-%.!""&#5-'(-#'#*+"!"#'(-2"&)"#'"'(*'6("&)6(*("'
.!-76##6-&*0
2,?#%:%&),((,$(%&',6?&S,$N,$(%&.1)13&4(%5$67
Q%;("F$%&Q,$N?;?&>?5&K%:;?5&.1)13&4(%5$67
/5;, & %(;$*? & ,#$>,:F$% & @=,5;C,5 & (,H,(,:;,5 & ^ & >?FO:F$% & =:$#,(5$;W($%3 & A,E&
F?E? & ? & 9%9,6 & >% & 9P5<*(%>=%BG? & :% & H?(E%BG? & >, & 9(?H,55?(,5L & S,E & 9?(&
?AX,;$#? & %:%6$5%( & ? & @=%>(? & ;,P($F? & >?5 & 5%A,(,5 & >% & >?FO:F$% & :? & F?:;,N;?&
=:$#,(5$;W($?3&:?&5,:;$>?&>,&A=5F%(&=E%&F?E9(,,:5G?&%&(,59,$;?&>?&E?>?&
F?E?&?5&5%A,(,5&5G?&F?:5;(=">?5&,&E?A$6$J%>?5L&8&9%(;$(&>,55,5&9(?9P5$;?53&
@=,5;$?:%E?5c & w=%$5 & ?5 & 9($:F$9%$5 & >,5%H$?5 & 5G? & %9?:;%>?5 & F?E & (,6%BG? & ^&
>?FO:F$%&=:$#,(5$;W($%f&/E&@=,&E,>$>%&?5&F=(5?5&>,&QP5<*(%>=%BG?&K;($F;?&
K,:5=&F?:;($A=,E&9%(%&?&>,:5,:#?6#$E,:;?&>%&$>,:;$>%>,&>?F,:;,f&V?E?&
5G?&F?:H$*=(%>?5 &?5&5%A,(,5&9(?H$55$?:%$5 &>?&9(?H,55?( &=:$#,(5$;W($?f &Q%(%&
(,59?:>,( & % & ,5;,5 & @=,5;$?:%E,:;?53 & ;$#,E?5 & :% & 9,5@=$5% & A$A6$?*(WH$F% & ?&
9?:;?&>,&9%(;$>%&9%(%&%&,6%A?(%BG?&>,&=E&(,H,(,:F$%6&>,&%:W6$5,&:?&5,:;$>?&
>,&?A;,(E?5&=E%&F?E9(,,:5G?&F?:5$5;,:;,&>%&9(W;$F%&>?F,:;,&:?&F?:;,N;?&
=:$#,(5$;W($?L
.;<;=>;?@2B;=C8'[?FO:F$%&1:$#,(5$;W($%3&K%A,(,5&[?F,:;,53&e>,:;$>%>,L
*,?#%:%UH%F,>L=H=LA(
9%;($F$%5%:;?5itUY%D??LF?ELA(
!"."!23##9"#'(*#'(6!")!6E"#'23!!6230*!"#'&*26-&*6#'.*!*'
-'23!#-'("'."(*:-:6*8'*'7-!%*45-'(-'."(*:-:-'.*!*'
*)3*45-'"%'*%+6"&)"#'"#2-0*!"#'"'&5-@"#2-0*!"#
V6W=>$%&>%&'?;%&[%(P5&Q%(,:;,&.4(%5$67
_&9(,5,:;,&;(%A%6D?&;,E&F?E?&?AX,;$#?&>$5F=;$(&?5&,59%B?5&H?(E%;$#?5&,&?5&
,59%B?5&>,&%;=%BG?&>?&9,>%*?*?&:%&%;=%6$>%>,L&Q%(%&$55?3&(,F?((,&^&%:W6$5,&
>%5 & [$(,;($J,5 & V=(($F=6%(,5 & 9%(% & ? & V=(5? & >, & Q,>%*?*$%3 & ,:H%;$J%:>? & %&
(,H,(O:F$%&^&%;=%BG?&>?&9,>%*?*?&,E&%EA$,:;,5&,5F?6%(,5&,&:G?<,5F?6%(,5L&
8?&H%J,(&,55%&(,H,(O:F$%3&%5&[$(,;($J,5&V=(($F=6%(,5&%H$(E%E&%&%E96$%BG?&>%&
%;=%BG? & >? & 9,>%*?*? & 9%(% & %6RE & >% & ,5F?6% & , & ;(%J,E & ^ & ;?:% & % & >$5F=55G?&
5?A(,&?5&9(?X,;?5&9,>%*P*$F?5&>?&F=(5?&>,&Q,>%*?*$%L&IW&@=,&(,9,:5%(&?5&
F=(("F=6?5 & >?5 & F=(5?5 & >, & H?(E%BG? & >, & 9(?H,55?(,53 & %A%(F%:>? & $:F6=5$#, & ?&
5=(*$E,:;? & ,0?= & 9(?6$H,(%BG? & >, & ?=;(?5 & %EA$,:;,5 & 5PF$?<,>=F%;$#?5 & ,&
F=6;=(%$53 & :?5 & @=%$5 & ? & 9,>%*?*? & ;%EARE & 9?>,($% & ?H,(,F,( & F?:;($A=$BG?&
5$*:$H$F%;$#%L&[,H,:>,<5,&@=,&R&9(,F$5?&>,#?6#,(&%?5&F=(5?5&>,&Q,>%*?*$%&%5&
>,E%:>%5&5?F$%$5&>%5&>$H,(,:;,5&$:5;$;=$BC,5&5?F$%$53&>,&,>=F%BG?&H?(E%6&,&
:G?<H?(E%63&>,&%EA$,:;,5&,5F?6%(,5&,&:G?<,5F?6%(,5L&_&V=(5?&>,&Q,>%*?*$%&
>,#,&5,(&=E&,59%B?&($F?&,E&>$5F=55C,5&,&E?E,:;?5&>,&(,H6,NC,5&5?A(,&%&
9(W;$F% & , & % & H=:BG? & >? & 9,>%*?*? & :%5 & $:5;$;=$BC,5 & 5?F$%$5L & K?E,:;, & %55$E3&
5,(W & 9?55"#,63 & %?5 & 9?=F?53 & >,6$:,%( & ? & :?#? & 9,(H$6 & >?5 & 9(?H$55$?:%$5 & >%&
,>=F%BG?L
.;<;=>;?@AB;=C8&
9(?H,55?(,5L
Q,>%*?*$%3 & >$(,;($J,5 & F=(($F=6%(,53 & H?(E%BG? & >,&
F6%=>$%>%(?5UF:9@L9@LA(&
."(*:-:6*'"%'*45-8'*2"##-'"'7-!%*45V6W=>$%&>%&'?;%&[%(P5&Q%(,:;,&.1)K3&4(%5$67
&\=6$%:?&'?;%&Q%(,:;,&.1b/43&4(%5$67
_&9(,5,:;,&;(%A%6D?&%9(,5,:;%&>$5F=55C,5&5?A(,&?&9(?F,55?&>,&H?(E%BG?&>?&
Q,>%*?*? & >,H,:>,:>? & % & %(;$F=6%BG? & ,:;(, & ,:5$:?3 & 9,5@=$5% & , & ,N;,:5G?3&
9?55$A$6$;%>% & 9,6? & Q(?*(%E% & `Q,>%*?*$% & ,E & 8BG?c & %F,55? & , & H?(E%BG?aL & _&
Q(?*(%E%&F?E9(,,:>,&=E&F?:X=:;?&>,&9(?X,;?53&F=(5?5&,&%BC,5&>,&,N;,:5G?&
#$5%:>?&^&H?(E%BG?3&%?&%F,55?&^&,>=F%BG?&,&^&$:F6=5G?&5?F$%63&,:#?6#,:>?&
9(?H,55?(,5 & , & %6=:?5 & >? & [,9%(;%E,:;? & >, & />=F%BG? & >% & 1:$#,(5$>%>,&
),>,(%6 & >, & K,(*$9,3 & V%E9=5 & Q(?HL & 86A,(;? & V%(#%6D?L & _ & Q(?*(%E%&
H=:>%E,:;%<5,&:?5&9($:F"9$?5&H(,$(,%:?5&>,&,>=F%BG?3&(,55%6;%:>?&%&A=5F%&
$:F,55%:;,&>?&5,(&D=E%:?&9,6?&F?:D,F$E,:;?&>,&5$&E,5E?&,&>?&E=:>?3&:?5&
9($:F"9$?5 & >, & >,E?F(%F$%3 & F$>%>%:$% & , & >$(,$;? & ^ & ,>=F%BG?3 & >$H=:>$>?5 & 9?(&
%=;?(,5&F?:;,E9?(]:,?5&,&(,%H$(E%>?5&:%&6,*$56%BG?&/>=F%F$P:%6&A(%5$6,$(%L&
_&?AX,;$#?&9($:F$9%6&>?&Q(?*(%E%&R&>,5,:#?6#,(&%BC,53&F=(5?5&,&9(?X,;?5&>,&
,N;,:5G?3 & 9(?E?#,:>? & ? & >$W6?*? & ,:;(, & 1:$#,(5$>%>,3 & Q?>,( & QMA6$F?&
E=:$F$9%6&,&F?E=:$>%>,&,&F?:5?6$>%:>?&,59%B?5&>,&%F,55?&^&,>=F%BG?3&^&
H?(E%BG? & $:$F$%6 & , & F?:;$:=%>% & >, & 9(?H,55?(,5 & , & $:F6=5G? & 5?F$%6L & Q(?*(%E%&
H$:%:F$%>?&F?E&(,F=(5?5&>?&QZ_/rS&ijjt0K/K10'/VL
.;<;=>;@AB;=C8&)?(E%BG?3&$:F6=5G?3&Q,>%*?*$%L
F6%=>$%L>%(?5U9@LF:9@LA(&
X=6$%:?9%(,:;,U=?6LF?ELA(
0"!'.*!*'*.!"&("!8'"#)!*)_:6*#'("'2-%.!""&#5-'0"6)-!*'&-'
"&#6&-'#3."!6-!K
'%($%&V,6$:%&S,$N,$(%&+$,$(%
S?>?&?&9(?F,55?&>,&,:5$:?&,&%9(,:>$J%*,E3&$:>,9,:>,:;,E,:;,&>?&:"#,6&>,&
,:5$:?3&9%55%&9,6%&6,$;=(%&>,&;,N;?5&,5F($;?5&&9,@=,:?5&?=&*(%:>,53&>,&6$#(?5&
?= & (,#$5;%53 & X?(:%$5 & ?= & $:;,(:,;L &/E & :?55? & 9%"53 & E=$;%5 & #,J,53 & ? & F=(5?&
5=9,($?( & R & % & M6;$E% & ?9?(;=:$>%>, & H?(E%6 & >, & ;?(:%( & ? & F$>%>G? & =E & 6,$;?(&
F?E9,;,:;,&_&@=,&9,:5%(&>?5&H=;=(?5&,>=F%>?(,5&,E&H?(E%BG?&,E&:?55%5&
=:$#,(5$>%>,5f&Z,F?:D,F,E&=;$6$J%(&,5;(%;R*$%5&@=%:>?&,5;=>%E&%&9%(;$(&>,&
;,N;?5 & ,5F($;?5f &Q%(% & ?A;,( & =E% & E%$?( & H%E$6$%($>%>, & F?E & ? & %55=:;? & ,&
5=A5$>$%(&%&%;=%BG?&9(W;$F%&>?&9(?H,55?(&:?&,:5$:?&5=9,($?(&:?55?&?AX,;$#?&
H?$ & F?:D,F,( & , & ,5;=>%(3 & 9?( & E,$? & >? & >,9?$E,:;?3 & >, & %6=:?5 & >,&
2(%>=%BG?0!$F,:F$%;=(% & %5 & ,5;(%;R*$%5 & @=, & (,F?:D,F,E & =;$6$J%( & ,E & ;,N;?5&
,5F($;?5&:?&9(?F,55? &>,&,:5$:?&,&%9(,:>$J%*,EL && _5&F=(5?5&5G?& &>,&=E%&
$:5;$;=$BG?&9%(;$F=6%(3&F?:H,55$?:%6&>,&(,H,(O:F$%&:%&F$>%>,&>,&KG?&Q%=6?3&KQ3&
4(%5$63&(,F?:D,F$>%&:%F$?:%6&,&$:;,(:%F$?:%6E,:;,L&_&>,6$:,%E,:;?&>?&;$9?3&
`!,#%:;%E,:;?a & 9,(E$;$= & =E & F?:D,F$E,:;? & >$(,;? & >% & (,%6$>%>,L & )$J,E?5&
=5?&>,&=E%&%E?5;(%&9(?A%A$6"5;$F%&F?E&F?,H$F$,:;,&>,&F?:H$%:B%&ts3s†3&>,&
=E&@=,5;$?:W($?&$:59$(%>?&,E&9,5@=$5%5&@=,&$:#,5;$*%E&?&6,;(%E,:;?L&_5&
(,5=6;%>?5 & H?(%E & %:%6$5%>?5 & :% & 9,(59,F;$#% & 5PF$?<F?*:$;$#%<$:;,(%F$?:%63&
F?:5$>,(%:>?<5,&?5&%59,F;?5&5?F$?,F?:pE$F?5&,&F=6;=(%$53&F?E?3&;%EARE3&
%5&,5;(%;R*$%5&%:;,53&>=(%:;,&,&>,9?$5&>%&6,$;=(%&@=,&?5&%6=:?5&(,F?:D,F,E&
=;$6$J%(&@=%:>?&,5;=>%E&%&9%(;$(&>,&;,N;?5&,5F($;?5L&
.;<;=>;?@2B;=C8& V?:F,9BG? & >, & 6,$;=(%c & 5PF$?<F?*:$;$#%<$:;,(%F$?:%63&
/5;(%;R*$%5&>,&F?E9(,,:5G?&6,$;?(%T&/:5$:?&5=9,($?(L
EF;,$N,$(%#$,$(%U*E%$6LF?E
!"70"H9"#'"'(6#23##9"#'#-+!"'-'#"!'.!-7"##-!'("'0O&:3*'
6&:0"#*'
Z,:%;%&V($5;$:%&>%&V=:D%&.1/KQe3&4(%5$67
_&9(,5,:;,&%(;$*?3&(,5=6;%:;,&>,&9,5@=$5%&>,5,:#?6#$>%&X=:;?&%?&9(?*(%E%&
>,&',5;(%>?&,E&/>=F%BG?&.QQ2/[7&>%&1:$#,(5$>%>,&),>,(%6&>?&Q$%="&.1)Qe73&
;,E & F?E? & @=,5;G? & F,:;(%6 & % & 5,*=$:;, & $:>%*%BG?c & w=%$5 & 5G? & %5&
,59,F$H$F$>%>,5 & >? & 5,( & 9(?H,55?( & >, & $:*6O5 & >% & />=F%BG? & 4W5$F% & :%&
F?:;,E9?(%:,$>%>,f & b,55% & 9,(59,F;$#%3 & ? & ?AX,;$#? & *,(%6 & >,55, & ,5;=>? & R&
;,F,( & >$5F=55C,5 & 5?A(, & % & H?(E%BG? & $:$F$%6 & >? & 9(?H,55?( & >, & $:*6O5 & >%&
/>=F%BG?&4W5$F%L&S(%;%<5,&>,&=E%&9,5@=$5%&A$A6$?*(WH$F%&:?&]EA$;?&>%&@=%6&
>$%6?*%E?5&F?E&%=;?(,53&;%$5&F?E?c&V,6%:$&.ijjj3&ijjh73&!,HH%&.mttt3&ijjm3&
ijjh73 & 2$E,:,J & .ijji3 & ijjg3 & ijjs73 & 4%(F,6?5 & .ijjg3 & ijjk7 & ,:;(, & ?=;(?5L&
86RE&>%5&F?:5$>,(%BC,5&$:$F$%$5&,&H$:%$53&?&%(;$*?&F?:;,E96%&?&5=A;P9$F?&,E&
@=, & %9(,5,:;%E?5 & %6*=E%5 & ,59,F$H$F$>%>,5 & 5?A(, & % & H?(E%BG? & $:$F$%6 & >?&
9(?H,55?( & >, & !":*=% & e:*6,5% & ^ & 6=J & >? & (,H,(,:F$%6 & ;,P($F? & 9,5@=$5%>?L & b%5&
F?:5$>,(%BC,5&H$:%$53&(,55%6;%E?5&@=,&%&9=A6$F%BG?&(,F,:;,&>,&>?F=E,:;?5&
?H$F$%$5&%F,(F%&>%&H?(E%BG?&>?&9(?H,55?(&>,&$:*6O5&:?5&6,#%&%&%F(,>$;%(&@=,&
,5;%E?5 & :? & F%E$:D? & F,(;? & 9%(% & ? & (,F?:D,F$E,:;? & , & #%6?($J%BG? & >%&
9(?H$55G?&9(?H,55?(&>,&$:*6O5&:?&9%"5L&&
.;<;=>;?@2B;=Cc & K,( & 9(?H,55?( & >, & !":*=% & e:*6,5%L & )?(E%BG? & >?F,:;,L&
Z,#$5G?&>,&6$;,(%;=(%L
(,:%;%5%:>Y5UD?;E%$6LF?E
3%*'.!-.-#)*'#F26-@230)3!*0'&*'7-!%*45-'(-2"&)"
K=J,;,&S,(,J$:D%&_(J,FD?|5{$.&1:$#,(5$>%>,&/5;%>=%6&>?&V,:;(?<_,5;,3&
4(%5$67
&Q%;("F$%&!=9$?:&S?((,5&.Q?:;$H"F$%&1:$#,(5$>%>,&V%;P6$F%<Q1V0Q(3&4(%5$67
_ & ;,N;? & %9(,5,:;% & % & :?55% & $:;,:BG? & >, & 9,5@=$5% & 9%(% & ? & 9(?*(%E% & >,&
>?=;?(%>? & >% & Q1V0Q(L & b,5;, & & 5?F$%6$J%E?5 & % & F?:;,N;=%6$J%BG? & >? & ;,E%&
%9?:;%:>?&F?E?&(,6,#%:;,&%5&M6;$E%5&[Vb53&9%(%&?&F=(5?&>,&Q,>%*?*$%3&@=,&
$>,:;$H$F%E & % & 9?55$A$6$>%>, & >, & %;=%BG? & >? & Q,>%*?*? & ,E & ,59%B?5 & :G?<
,5F?6%(,5L & eE9?(;% & 9,:5%( & :% & H?(E%BG? & >,5;, & Q,>%*?*? & @=, & ;,E & :%&
Q,>%*?*$% & K?F$%6 & ?= & KPF$?<F=6;=(%6 & =E & 9?:;? & >, & 9%(;$>% & 9%(% & %:W6$5, & ,&
(,H6,NG?&F(";$F%&@=,&9(?E?#%&%&,6%A?(%BG?&>,&=E%&%6;,(:%;$#%&>,&H?(E%BG?L&
8&E,;?>?6?*$%&R&@=%6$;%;$#%3&>,&%96$F%BG?&9(W;$F%&=;$6$J%:>?<5,&>?&9(?F,55?&
>%&9,5@=$5%<%BG?L&Q%(;$:>?&>?5&>%>?5&,E9"($F?53&?AX,;$#%<5,&%&9(?9?5$BG?&>,&
=E & F=(5? & >, & H?(E%BG? & 9%(% & Q,>%*?*?5 & KPF$?<F=6;=(%$53 & =;$6$J%:>?<5, & >%&
E?>%6$>%>, & >, & ,:5$:? & ^ & >$5;]:F$%L & _ & (,H,(,:F$%6 & ;,P($F? & A%5,$%<5, & :?&
D$5;P($F?&>%&Q,>%*?*$%&K?F$%6&9,(9%55%:>?&%&,N9,($O:F$%&>,&Q%=6?&)(,$(,3&:?&
4(%5$6L & 8 & F?:F,9BG? & >% & Q,>%*?*$% & F?E? & F$O:F$% & ,5;W & 5=5;,:;%>%&
9($:F$9%6E,:;,&,E&!$A]:,?&.mttt7&,3&)(%:F?&.ijjv7L&8&@=,5;G?&>%&H?(E%BG?&
>?&Q,>%*?*?&KPF$?<F=6;=(%6&,5;%&(,H6,;$>%&:%5&>$5F=55C,5&>,&9%"5,5&F?E?&%&
/59%:D%&,&e;W6$%3&5,(#$:>?&>,&9%(]E,;(?3&:G?&F?E?&E?>,6?L&b?55?&?AX,;$#?3&
%6RE&>,&5?F$%6$J%(&$>R$%5&>,&(,H6,NG?&F(";$F%&R&;%EARE&9(?#?F%(&%&%E96$%BG?&
>?&>,A%;,L&V?E?&9(?9?(&=E%&:?#%&H?(E%BG?&9(?H$55$?:%6&9%(%&?&Q,>%*?*?f&
Q%(%&@=Of&&&&&
.;<;=>;?@AB;=C8 'H?(E%BG? & >? & Q,>%*?*?T & 9(W;$F% & 9,>%*P*$F%T & Q,>%*?*$%&
5PF$?<F=6;=(%6
5=J$z?(J,UD?;E%$6LF?E
9%;?((,5U;,((%LF?ELA(
"(32*26F&'b'"%*&26.*26F&K'"0'("!"21-'*'0*'"(32*26F&'"&'"0'
#6:0-'HH6
/65%&2%;;$&.8b/Q3&4(%5$67
Q,5,&%&@=,&6%&1b/KV_&D%&9(?F6%E%>?&,6&>,(,FD?&>,&;?>?5&%&6%&,>=F%F$P:&%&
6?&6%(*?&>,&;?>%&6%&#$>%3&,5;,&>,(,FD?&,5;W&E=Y&6,X?5&>,&5,(&%6F%:J%>?&9?(&
#%5;?5&5,F;?(,5&>,&6%&9?A6%F$P:&Y&9?(&F?6,F;$#?5&,:;,(?5&,:&,6&E=:>?&*6?A%6&
Y&,:&:=,5;(% &%6>,%&(,*$?:%63&5%6#?&@=,&F?:H=:>%E?5&,>=F%F$P: &F?:&E,(%&
,5F?6%($J%F$P:L&I%Y&9%"5,5&F?E?&V=A%&@=,&D%:&=:$#,(5%6$J%>?&6%&/>=F%F$P:&
K=9,($?(L & 4(%5$63 & e:>$%3 & K=>WH($F%3 & #$,:,: & >,5%((?66%:>? & 9?6";$F%5 & >,&
`>$5F($E%F$P: & 9?5$;$#%a & 9%(% & D%F,( & H(,:;, & % & 6% & ,NF6=5$P: & 5$5;,EW;$F% & >,&
%E96$?5 & 5,F;?(,5 & >, & 6% & 9?A6%F$P:3 & D$5;P($F%E,:;, & 5,*(,*%>?5 & >,5>, & ,6&
:%F$E$,:;?L & Q?6";$F%5 & @=, & ,:H(,:;%: & (,5$5;,:F$%5 & ,: & WEA$;?5 & %F%>RE$F?5L&
[$H"F$6E,:;, & =:0% & >?F,:;, & ,5;R & ,: & F?:>$F$?:,5 & >, & (,59,;%( & ,6 & >,(,FD? & >,&
;?>U5 & 5=5 & %6=E:U5 & % & 6% & ,>=F%F$P: & 6$A,(%>?(%3 & 5$ & % & R60,66% & :? & 5, & 6, & D%&
(,F?:?F$>?&,5,&E$5E?&>,(,FD?L&Š&R5;,&H=,&>,5F?:?F$>?&9?(&6%(*?5&%l?5&,:&
:=,5;(?5 & 9%"5,5 & 9?( & ,H,F;? & >,6 & F?:;,N;? & %=;?($;%($? & Y0? & >,9,:>$,:;, & >,&
9?6";$F%5&$E9=,5;%5&9?(&6?5&?(*%:$5E?5&$:;,(:%F$?:%6,5&>,&F(R>$;?L&[,A,E?5&
(,#,(;$(&,5%5&9?6";$F%5&>,H,:>$,:>?&:=,5;(?&>,(,FD?&Y&,6&>,(,FD?&>,&;?>U5c&
,6&>,&;?>U5&:=,5;(U5&%6=E:U5&.9,(?&:?&5P6?&>,&,66U57&%&%9(,:>,(&%&#?6%(T&
%5" & F?E? & % & @=, & :? & 5, & :?5 & F?(;,: & 6%5 & %6%5 & :$ & 5, & :?5 & ,:X%=6, & ,: & E?6>,5&
9(,H%A($F%>?5 & , & $E9=,5;?5 & >,5>, & %H=,(% & ? & >,5>, & %(($A%L & /6 & >,(,FD? & >,&
;?>U5 & % & =:% & ,>=F%F$P: & ,E%:F$9%>?(%3 & 9(?E?;?(% & >, & %=;?:?E"%53 & ,: & ,6&
9,:5%(&Y&,:&,6&%F;=%(&
.;<;D>;? ' A<;=Cc & [,(,FD? & % & 6% & ,>=F%F$P:L &Q?6";$F%5 & >, & )[L & 8=;?:?E"%&
9(?H,5$?:%6
,65%L*%;;$U*E%$6LF?E
*#'.-0O)62*#'("'7-!%*45-'2-&)6&3*(*'("'.!-7"##-!"#'"'-'
)!*+*01-'(-2"&)"8'&-'2-&)"H)-'(*#')!*&#7-!%*49"#'(*'
#-26"(*("
eJ%&V($5;$:%&Q(%>?&>%&!=J&.1)Q83&4(%5$67
_6*%"5,5&V%A(%6&'%=R5&.1)Q83&4(%5$67&
/5;, & ,5;=>? & R & =E% & (,#$5G? & ;,P($F% & & (,H,(,:;, & ^5 & 9?6";$F%5 & >, & H?(E%BG?&
F?:;$:=%>% & >, & 9(?H,55?(,5 & @=, & ?F?((,E & :? & F?:;,N;? & >%5 & ;(%:5H?(E%BC,5&
@=,&%&5?F$,>%>,&#,E&#$#,:>?&,&>%&Z,H?(E%&>?&/5;%>?L&_&?AX,;$#?&R&%:%6$5%(&
F?E? &%5 & 9?6";$F%5 &>, & H?(E%BG? & F?:;$:=%>% &,5;G? &5$;=%>%5 &:,55, & F?:;,N;?&
F?:5?6$>%>?& % & 9%(;$( & >% & >RF%>% & >, & mttj& , & >, & @=, & H?(E% & ;,E & 5$>? & %&
(,9,(F=55G? & :? & ;(%A%6D? & >?F,:;,L & /E & =E & 9($E,$(? & E?E,:;?& 5,(G?&
%9(,5,:;%>%53 & >, & H?(E% & %:%6";$F%3 & %6*=E%5 & F?:H$*=(%BC,5 & >%5 & 9?6";$F%5 & >,&
H?(E%BG?&&,&;(%A%6D?&>?F,:;,3&5,*=:>?&%&#$5G?&>,&%6*=:5&,5;=>$?5?5&>,55%&
;,EW;$F%L & /E & 5,*=$>%3 & 5,(G? & H,$;?5 & %6*=:5 & %9?:;%E,:;?5 & 9%(% & 5=9,(%BG?&
>%5&F?:;(%>$BC,5&9(,5,:;,5&:%5&9?6";$F%5&>,&H?(E%BG?&,E&#$*?(L&&_&(,5=6;%>?&
9(,;,:>$>?&R&?&>,&%E96$%(&?&F%E9?&>,&,5;=>?5&&5?A(,&%&;,EW;$F%L
.;<;=>;?@AB;=C8& )?(E%BG?&>,&Q(?H,55?(,5T&Q?6";$F%&/>=F%F$P:%6T&S(%A%6D?&
[?F,:;,
$J%D?X,UY%D??LF?ELA(
?6*%$5,5U=?6LF?ELA(&
*'!"G6#)*'&-G*'"#2-0*'"'-'(6#23!#-'#-+!"'*#')"2&-0-:6*#'
"(32*26F&*6#'&*'7-!%*45-'("'.!-7"##-!"#K
u:*,6?&Z?>($*?&4$%:FD$:$&.1)'83&4(%5$67
b,5;, & %(;$*? & 9(?9?E?5 & %9(,5,:;%( & =E% & (,H6,NG? & 5?A(, & % & Z,#$5;% &b?#%&
/5F?6% &,3 & E%$5 & ,59,F$H$F%E,:;,3 & >% & 9(?>=BG? & , & $:5;$;=F$?:%6$J%BG? & >, & =E&
E?>?&>,&>$J,(&,&>,&H%J,(3&?=&5,X%3&>,&=E &>$5F=(5? &,& >,&5,=5&H=:>%E,:;?5&
5?A(,&%5&;,F:?6?*$%5&/>=F%F$P:%$5&F?:5;(=">?5&9%(%&?&5,=&*(%:>,&:ME,(?&>,&
6,$;?(,5&@=,&5G?&?5&9(?H,55?(,5&>%&Z,>,&>,&/:5$:?&>?&4(%5$6L&Q%(%&%&%:W6$5,&
:?5&%;,:;%E?5&9%(%&%&@=,5;G?&>%&;,N;=%6$>%>,&%>?;%>%&:%&E">$%&$E9(,55%&
>%&Z,#$5;%&b?#%&/5F?6%&%&9%(;$(&>?5&,N,E96%(,5&F$(F=6%>?5&:?&%:?&>,&ijjv3&
F?E & ? &$:;=$;? &>, & F?E9(,,:>,(& % &?(>,E & >,55,5 & >$5F=(5?5 & , & ?5 &,H,$;?5 & >,&
5,:;$>?5&@=,&%$&5,&9(?>=J&:%&H?(E%BG?&>?&9(?H,55?(3&%&6=J&>%&S,?($%&V(";$F%L&
.;<;=>;? ' AB;=C?8& S,F:?6?*$%5 & />=F%F$P:%$53 &S,?($% & V(";$F%3 &Z,#$5;% & b?#%&
/5F?6%L&
A$%:FD$:$U=HE%LA(
-#'.!-7"##-!"#'%6&"6!-#J'#3*'7-!%*45-'"'#3*#'
*.!"&(6E*:"&#'&-#'.!-2"##-#'("'("#"&G-0G6%"&)-'
.!-76##6-&*0
Z$;%&>,&VW55$%&>,&86F]:;%(%&4(%M:%&.1)+3&4(%5$67
86#%:$J,&+%6,:;,&),(:%:>,5&),(,:F&.1)+3&4(%5$67
4=5F?=<5,&:,55,&;(%A%6D?&>$5F=;$(&5?A(,&%&H?(E%BG?&.$:$F$%6&,&F?:;$:=%>%7&>,&
9(?H,55?(,5 & E$:,$(?53 & ,N96?(%:>? & %59,F;?5 & F?E? & % & ?9BG? & 9,6? & F=(5? & >,&
H?(E%BG?&$:$F$%63&?5&H%;?(,5&@=,&H%#?(,F,(%E&,55%&?9BG?3&%&F?:;($A=$BG?&>?&
F=(5? & 9%(% & %;=%BG? & >?F,:;,3 & ? & 9%9,6 & >?5 & ,5;W*$?5 & F=(($F=6%(,5 & , & >?5&
>$H,(,:;,5 & F?E9?:,:;,5 & >? & F=(5? & >, & H?(E%BG? & :? & 9(?F,55? & >,&
%9(,:>$J%*,E & , & >, & >,5,:#?6#$E,:;? & 9(?H$55$?:%6 & >?F,:;,L & 1;$6$J?=<5, & >?5&
>%>?5 & %9(,5,:;%>?5 & :? & @=,5;$?:W($? & %96$F%>? & %?5 & 9(?H,55?(,53&
9(?A6,E%;$J%>?5&,&(,H,(,:>%>?5&,E&%=;?(,5&F?E?c&2%;;$&.ijjt7T&'$J={%E$&
.ijjj3&ijji7T&KFD‹:&.ijjj7T&2%(F$%&.mttt7T&2$E,:L
.;<;=>;?@AB;=C8&H?(E%BG?&>,&9(?H,55?(,53&,5;W*$?5&F=(($F=6%(,53&
9(?H$55$?:%6&>?F,:;,L
(A(%=:%U=H#LA(
%#%6,:;,U=H#LA(
.("@.!8'3%'.!-:!*%*'("'7-!%*45-'2-&)6&3*(*'("'
.!-7"##-!"#'L3"')"%'*'"#2-0*'2-%-'-+,")-'("'"#)3(-K
V%55$%:?&Z?A,(;?&b%5F$E,:;?&_*6$%($&.Q1V<KQ3&4(%5$67
_ & ?AX,;$#? & >,5;, & ;,N;? & R & %9(,5,:;%( & ? & Q(?*(%E% & >, & [,5,:#?6#$E,:;?&
/>=F%F$P:%6 & - & Q[/3 & $E96%:;%>? & :? & ,5;%>? & >? & Q%(%:W & >,5>, & ijjo3 & , & @=,&
F?:5;$;=$&%&9($:F$9%6&9?6";$F%&9MA6$F%&>,&H?(E%BG?&F?:;$:=%>%&>,&9(?H,55?(,5&
>? & ,5;%>?L & b? & 9($E,$(? & E?E,:;? & R & %9(,5,:;%>? & ? & Q[/ & , & 5=% & 9(?9?5;%&
F=(($F=6%(3 & ,N%6;%:>? & % & 9($?($>%>, & >% & ,5F?6% & F?E? & ,6,E,:;? & F,:;(%6 & >%&
H?(E%BG? & >? & 9(?H,55?( & , & %5 & F%(%F;,("5;$F%5 & >? & F=(("F=6? & 5?A & ,55%&
9,(59,F;$#%3 & @=%$5 & 5,X%Ec & F?E96,N$>%>,3 & >$:%E$5E? & , & H6,N$A$6$>%>,L & b%&
5,@=O:F$%3 & R & >,E?:5;(%>% & % & (,6%BG? & ,:;(, & %5 & 9,(59,F;$#%5 & ;,P($F%5 & @=,&
>$5F=;,E&?&F=(("F=6?&,&5=%5&F?:5$>,(%BC,5&9%(%&%&F?:5;$;=$BG?&>?&F=(("F=6?&
>? & 9(?*(%E%3 & (,55%6;%:>? & % & ?(*%:$J%BG? & >$5F$96$:%( & >, & F%(W;,( & =:$#,(5%63&
E%5&;%EARE&,:%6;,F,:>?&%59,F;?5&F=6;=(%$5&,&6?F%$5&>%5&,5F?6%53&?&@=,&H%J&
F?E9(,,:>,(&@=,&%&;(%X,;P($%&H?(E%;$#%&5,*=$>%&:?&$:;,($?(&>?&9(?*(%E%&R&
>$H,(,:;,&>?5&E?>,6?5&,N$5;,:;,5&>,9,:>,:>?&>?5&%59,F;?5&>%5&,5F?6%5&,&
>?5&9(?X,;?5&>?5&9(?H,55?(,5L&S,:>?&%&F?:5$>,(%(&(,6,#%:;,&?&H%;?&>,&@=,&?&
Q[/&9,(E$;$=&=E%&,N9,($O:F$%&$E9?(;%:;,&:?&5,:;$>?&>,&9(?E?#,(&%&(=9;=(%&
F?E & ?5 & 9(?*(%E%5 & ;(%>$F$?:%$5 & >, & H?(E%BG? & A%5,%>?5 & :?5 & E?>,6?5 & >%&
(%F$?:%6$>%>, & ;RF:$F%3 & =E & >?5 & >,5%H$?5 & %9(,5,:;%>?5 & 9,6% & A$A6$?*(%H$%3&
9(?E?#,:>?&%&#%6?($J%BG?&>?5&,5;=>?5&5?A(,&%&,5F?6%&F?E?&9($?($>%>,&:%&
H?(E%BG?L&
.;<;=>;?@AB;=C8& V=(("F=6? & , & H?(E%BG? & >, & 9(?H,55?(,5T & Q[/T & )?(E%BG?&
F?:;$:=%>%&>,&9(?H,55?(,5L
F%55$%:??*6$%($UY%D??LF?ELA(&
-')!*+*01-'(-2"&)"'&-'r%+6)-'(*'"#2-0*!6E*45-'("'
#3!(-#8'("#*76-#'.*!*'*'7-!%*45-'("'.!-7"##-!"#
'%($%&>%5&2(%B%5&VD%*%5&>,&8((=>%&b%5F$E,:;?&.1)Z\3&4(%5$67&
Š(66%&Z$A,$(?&>,&_6$#,$(%&V%(:,$(?&>%&K$6#%&.eb/K3&4(%5$67&
_ & 9(,5,:;, & ;(%A%6D?3 & (,F?(;, & >, & =E% & 9,5@=$5% & E%$?(3 & ;,E & % & $:;,:BG? & >,&
%:%6$5%( & %5 & :,F,55$>%>,5 & >, & H?(E%BG? & 9%(% & % & %;=%BG? & :? & ]EA$;? & >%&
,>=F%BG? & >, & 5=(>?5L & Q%(;$(,E?5 & >%5 & 9($:F$9%$ & 5 & >$H$F=6>%>,5 & ,:F?:;(%>%5&
9,6?5&9(?H,55?(,5&:?&,N,(F"F$?&>%&9(?H$55G?&,&>%&9,(F,9BG?&@=,&;OE&>,&5=%5&
H?(E%BC,53&9%(%&%9?:;%(E?5&%6*=:5&,6,E,:;?5&:,F,55W($?5&^&(,H6,NG?&5?A(,&
?5&F=(("F=6?5&>,&H?(E%BG?&9(?H$55$?:%6L&[?&9?:;?&>,&#$5;%&>%5&H,((%E,:;%5&>?&
;(%A%6D?3 & ? & (,F=(5? & E,;?>?6P*$F? & 9($#$6,*$%>? & H?$ & ? & >% & ,:;(,#$5;%L & 855$E3&
H?(%E&,:;(,#$5;%>?5&mk&9(?H,55?(,5&@=,&%;=%E&:%&,>=F%BG?&>,&5=(>?53&:%5&
5R($,5&$:$F$%$5&>?&,:5$:?&H=:>%E,:;%63&,E&>=%5&,5F?6%5&9MA6$F%53&6?F%6$J%>%5&
:? & /5;%>? & >? & Z$? & >, & \%:,$(?L & b? & @=, & 5, & (,H,(, & ^ & H?(E%BG? & $:$F$%63 & ?5&
(,5=6;%>?5&%9?:;%(%E&9%(%&%&$:5=H$F$O:F$%&>%&$:F6=5G?&>,&!e4Z8K&:?5&F=(5?5&
>,&H?(E%BG?&>,&9(?H,55?(,5&,&9%(%&%&:,F,55$>%>,&>,&=E&F=(("F=6?&#?6;%>?3&
:?&:"#,6&>%&*(%>=%BG?3&9%(%&=E%&H?(E%BG?&;,P($F%&5P6$>%&,&=E%&H?(E%BG?&
%>,@=%>% & :? & @=, & 5, & (,H,(, & %?5 & >$H,(,:;,5 & 9(?F,55?5 & @=, & ,:#?6#,E & ?&
,:5$:?<%9(,:>$J%*,E3 & >,56?F%:>? & 9%(% & % & ,59,F$%6$J%BG?3 & =E & F=(("F=6?&
#?6;%>? & 9%(% & %5 & F%(%F;,("5;$F%53 & %5 & :,F,55$>%>,5 & , & ?5 & 9(?F,>$E,:;?5&
9,>%*P*$F?5&,59,F"H$F?5&%&F%>%&=E%&>%5&:,F,55$>%>,5&,>=F%;$#%5&,59,F$%$53&
$:F6=$:>?<5,&%"&%5&:,F,55$>%>,5&,>=F%;$#%5&>?5&5=(>?5L
.;<;=>;? ' AB;=C?8& ;(%A%6D? & >?F,:;,3 & H?(E%BG? & >, & 9(?H,55?(,53&
,5F?6%($J%BG?&>,&5=(>?5
E*(%F%5:%5F$E,:;?U?$LF?ELA(
Y(66%($A,$(?iiUY%D??LF?ELA(
.-0O)62*'("'2!6*45-'("'6&#)6)3)-#'#3."!6-!"#'("'"(32*45-'
&-'+!*#60'8'"0"G*45-'(-'&OG"0'(*'7-!%*45-'("'.!-7"##-!"#'
-3'%"!2*&)606E*45-'(*'7-!%*45-'Q
€%6>,F{&V%(:,$(?&.1))3&2Z1QQ/0VbQ@3&4(%5$67
)6W#$%&8(%MX?&.1))3&2Z1QQ/0VbQ@3&4(%5$67
26P($%&8:5,6E?&.1))<b1/V3&2Z1QQ/0VbQ@3&4(%5$67
&
_&;(%A%6D?&9(,;,:>,&F?:;($A=$(&9%(%&%&,6%A?(%BG?&>?&A%6%:B?&F(";$F?&>,&=E%&
9?6";$F% & >, & H?(E%BG? & >, & 9(?H,55?(,5 & ?=;?(*%>% & %?5 & ,>=F%>?(,5 & , & ^5&
$:5;$;=$BC,5&H?(E%>?(%5&9,6%&!,$&>,&[$(,;($J,5&,&4%5,5&>%&/>=F%BG?&b%F$?:%6&
.![4/b&thtg0tk73&@=,&$:5;$;=$=3&:?&4(%5$63&%?&%((,9$?&>?&>,A%;,&F?:5;(=">?&
9,6? & E?#$E,:;? & :%F$?:%6 & >?5 & ,>=F%>?(,53 & ?5 & e:5;$;=;?5 & K=9,($?(,5 & >,&
/>=F%BG? & , & ? & V=(5? & b?(E%6 & K=9,($?(3 & 5?A & % & R*$>, & >? & *?#,(:?&
:,?F?:5,(#%>?( & >, & ),(:%:>? & I,:($@=, & V%(>?5?L & [,J & %:?5 & >,9?$5 & >%&
(,*=6%E,:;%BG?&>%@=,6,5&$:5;$;=;?5&,&F?E&?&V=(5?&b?(E%6&K=9,($?(&,E&(?;%&
>, & ,N;$:BG?3 & ? & ,5;=>? & %:%6$5% & ?5 & 9($:F$9%$5 & $:;,(,55,5 & , & @=,5;C,5 & @=,&
F?:>$F$?:%(%E&%&F($%BG?&>,55,5&F?:;(?#,(5?5&>$59?5$;$#?5&>,&H?(E%BG?&>,&
9(?H,55?(,5&:?&4(%5$6L
.;<;=>;?@AB;=C8&9?6";$F%&>,&H?(E%BG?&>,&9(?H,55?(,53&e:5;$;=;?5&K=9,($?(,5&
>,&/>=F%BG?3&b?(E%6&K=9,($?(
|%6>,F{F%(:,$(?U*E%$6LF?E
.-0O)62*'("'7-!%*45-'(-2"&)"'&-':-G"!&-'030*'[]aa]@]a/a\
_6$:>%&/#%:*,6$5;%&.1)KV3&4(%5$67&
_ & 9(,5,:;, & ;(%A%6D? & >$5F=;, & % & 9(?A6,EW;$F% & >% & (,F?:#,(5G? & >?F,:;, & :?&
4(%5$6 & :? & $:;,($?( & >, & =E% & 9?6";$F% & >,5,:F%>,%>% & 9,6? &/5;%>? & />=F%>?(&
F?:H$*=(%>?&:?&2?#,(:?&!=6%L&_H,(,F,&@=%;(?&,N,E96?5&>,&(,F?:#,(5G?c&?5&
e:5;$;=;?5 & ),>,(%$5 & >, & />=F%BG? & S,F:?6P*$F%3 & % &Q?6";$F% & b%F$?:%6 & >,&
)?(E%BG? &>, &Q(?H$55$?:%$5&>?&'%*$5;R($?&>%&/>=F%BG? &4W5$F%3 &%&/>=F%BG?&
e:F6=5$#%&,&?&V=(5?&>,&Q,>%*?*$%L&S%$5&,N,E96?5&F?:F(,;$J%E&%&(,F?:#,(5G?&
$:5;$;=F$?:%63&%&F?:F,$;=%63&%&6%A?(%6&,&%&(,F?:#,(5G?&H?(E%;$#%L&Q,(9%55%E&
,55%5&9?6";$F%5&%5&:?BC,5&>,&Q(?H,55?(&2,5;?(&,&%&>,&$:F6=5G?L&_&E?#$E,:;?&
D$5;P($F? & ,E & 9(,5,:B% & H%J & 9%(;, & >, & =E & $E,:5? & , & :,H%5;? & 9(?F,55? & >,&
(%F$?:%6$J%BG? & >?5 &9(?A6,E%5 & 5?F$%$5 & , &,F?:pE$F?5 & ,E& @=, & 5, & >,5;%F% &%&
,>=F%BG?&F?E?&(,59?:5W#,6&,&?&9(?H,55?(&F?E?&5,=&%*,:;,L&
.;<;=>;?@AB;=Cc&Q?6";$F%&/>=F%F$P:%6L&2?#,(:?&!=6%L&Z,F?:#,(5G?&>?F,:;,L
?6$:>%,#%:*,6$5;%hsUD?;E%$6LF?E
!"70"Ho"#'#-+!"'7-!%*45-'2-&)6&3*(*'("'.!-7"##-!"#8'*#'
.-0O)62*#'&*26-&*6#'("'7-!%*45-'"'*'!"*06(*("'("'3%*'!"("'
%3&626.*0'("'"&#6&V%(?6$:,&'%FD%>?&V?(;,6$:$&V?:F,$BG?&.1:$?,5;,3&4(%5$67
&\%:%$:%&[%E%5F?&1EA,6$:?&.1:$?,5;,3&4(%5$67&&
8&H?(E%BG?&F?:;$:=%>%&>,&9(?H,55?(,5&>,59?:;?=&:%&M6;$E%&>RF%>%&F?E?&
=E%&$E9?5$BG?&6,*%6&,&=E%&>,E%:>%&5?F$%63&,5;%A,6,F,:>?<5,&F?E?&9?6";$F%&
9MA6$F% & ,E & >$#,(5?5 & 9%"5,5L & b? & 4(%5$63 & %5 & (,>,5 & >, & ,:5$:?3 & ;$#,(%E & %&
:,F,55$>%>,&>,&5,&?(*%:$J%(&9%(%&%55,*=(%(&?&F=E9($E,:;?&>?&>$59?5;?&:%&
!,$&>,&[$(,;($J,5&,&4%5,5&>%&/>=F%BG?&b%F$?:%6&-&![4&thtg0tkL&8&H?(E%BG?&
F?:;$:=%>% & R & >,H,:>$>% & F?E? & =E%& >%5 & F?:>$BC,5 & 9%(% & % & #%6?($J%BG? & >?5&
9(?H$55$?:%$5&>%&,>=F%BG?L&S(%;%<5,&,5;,&>,&=E&;,E%&>,&*(%:>,&(,6,#]:F$%3&
,&%*?(%&,:F,((%>%&%&9($E,$(%&>RF%>%&>,&,H,;$#%&,N,F=BG?&,&$E96,E,:;%BG?&
>,&>$#,(5%5&9(?9?5;%5&>,&H?(E%BG?&F?:;$:=%>%&R&9,(;$:,:;,&%:%6$5%(&%&5=%&
;(%X,;P($%L&b,55,&5,:;$>?3&;(%J,E?5&9%(%&>$5F=55G?&:,55,&;,N;?&?5&,5;=>?5&
(,%6$J%>?5&%&9%(;$(&>?&9(?X,;?&>,&9,5@=$5%&$:;$;=6%>?&`)?(E%BG?&F?:;$:=%>%&
>?5 & 9(?H$55$?:%$5 & >% & ,>=F%BG?c & =E & ,5;=>? & 5?A(, & %5 & 9(?9?5;%5&
$E96,E,:;%>%5&,E&)(%:F$5F?&4,6;(G?0QZa&@=,&;,E&?&9(?9P5$;?&>,&(,%6$J%(&?&
(,5*%;, & D$5;P($F? & >? & 9(?F,55? & >, & H?(E%BG? & F?:;$:=%>% & :? & E=:$F"9$? & >,&
)(%:F$5F? & 4,6;(G?0QZ & .4(%5$67 & , & $>,:;$H$F%( & %5 & F?:F,9BC,5 & ;,P($F?<
E,;?>?6P*$F%53&%5&;,EW;$F%5&,&?5&?AX,;$#?5&9(,5,:;,5&:,5;%5&9(?9?5;%5&>,&
H?(E%BG?&>?5&9(?H,55?(,5&>%&(,>,&>,&,:5$:?L&
.;<;=>;?@AB;=C8 'H?(E%BG?&>,&9(?H,55?(,53&9?6";$F%&/>=F%F$P:%63&,>=F%BG?&
AW5$F%
FEF?(;,6$:$UD?;E%$6LF?E
X>=EA,6$:?UY%D??LF?ELA(
G-E"#J'"#23)*'"'#60Z&26-8'*'2-%.!""&#5-'("'3%*'+-*'*30*'
#":3&(-'*'*G*06*45-'(-#'*03&-#'("'3%'23!#-'("'."(*:-:6*
\?5R&89%(,F$>?&86#,5&Q,(,$(%&.1)'23&4(%5$67
'%($%&>,&!?=(>,5&Z?FD%&>,&!$E%&.1)'23&4(%5$67
_ & ?AX,;$#? & H?$ & $:#,5;$*%( & % & 9(W;$F% & ,>=F%;$#% & :=E & F=(5? & >, & 9,>%*?*$%&
5,*=:>?&?&9(?F,55?&>,&,5F=;%3&5$6O:F$?&,&#?J,5&>?5&%6=:?5&9%(%&F?:D,F,(&,&
%:%6$5%(&5,=5&,59%B?5&>,&9%(;$F$9%BG?&9?6";$F?<>,E?F(W;$F?&:%&F6%55,&,&,E&
?=;(?5&,59%B?5&5?F$%$5&>,&H?(E%BG?L&S(%;?=<5,3&>,&=E&,5;=>?&>,&F%5?&:=E%&
%A?(>%*,E&@=%6$<@=%:;$;%;$#%&;,:>?&F?E?&%E?5;(%&ij&5=X,$;?5&>?&o•&9,("?>?&
>,&=E&F=(5?&>,&Q,>%*?*$%&:=E%&=:$#,(5$>%>,&,5;%>=%6&>%&4%D$%04(%5$6L&b%&
F?6,;%&>,&>%>?5&=;$6$J?=<5,3&@=,5;$?:W($?&,&,:;(,#$5;%&5,E$<,5;(=;=(%>%&F?E&
%:W6$5,&$:;,(9(,;%;$#%&>?5&>%>?5L&_&;(%A%6D?&F?E96,;?&,5;W&?(*%:$J%>?&,E&
F$:F?&F%;,*?($%5L&
.;<;=>;?@AB;=C8'9(W;$F%&,>=F%;$#%3&H?(E%BG?3&Q,>%*?*$%L
X%%9,(,$(%U=:,ALA(
.-0O)62*#'"'.!I)62*#'6&203#6G*#'&-'"&#6&-'73&(*%"&)*0'
("'.!6%"6!*'7*#"
'%($%&'%(;%&!?9,5&)6?(,5
8>($%:%&>,&_6$#,$(%&)(,$;%5
[=6FR($%&S%(;=F$
_&9(,5,:;,&%(;$*?&;,E&F?E?&;,E%&%5&9?6";$F%5&>,&$E96%:;%BG?&>?5&9(?F,55?5&
$:F6=5$#?5&:?5&%:?5&>,&mttj3&%&#$5G?&>?5&9(?H,55?(,5&%&(,59,$;?&>%&$:F6=5G?&
:?&/:5$:?&)=:>%E,:;%6&,&?&>$(,$;?&%&,>=F%BG?&9?(&9%(;,&>?5&%6=:?5L&S,E&
F?E? & 9($:F$9%6 & ?AX,;$#? & F?:D,F,( & ? & 9(?F,55? & >, & $:F6=5G? & #$#,:F$%>? & :%&
,5F?6%&,&%:%6$5%(&%6*=:5&%59,F;?5&>,55,&9(?F,55?&:%5&=:$>%>,5&,5F?6%(,5L&
Q(,;,:>, & %$:>%3 & ;?E%:>? & F?E? & (,H,(O:F$% & ,55% & #$#O:F$%3 & ?A5,(#%( & F?E?&
;,E&5,&>%>?&%&$:F6=5G?&>$%:;,&>%5&9?6";$F%5&>,&$E96%:;%BG?L&8&D$9P;,5,&R&
@=,&%5&9(W;$F%5&>?5&9(?H,55?(,5&5,&>G?&$:;=$;$#%E,:;,3&#$5;?&@=,&9?=F?5&5G?&
?5&>?F,:;,5&F%9%F$;%>?5&,0?=&D%A$6$;%>?5&9%(%&;%6&E$5;,(L&_5&P(*G?5&9MA6$F?5&
:G? & ;,E & (,%6$J%>? & % & H=:BG? & >, & @=%6$H$F%( & ? & @=%>(? & >?F,:;, & 9%(% & %&
%55=EO:F$%&>,5;%&H=:BG?&:?5&,59%B?5&,5F?6%(,5L&Q%(%&%;,:>,(&%?&?AX,;$#?&
>,&F?:D,F,(&?&?6D%(&>?&9(?H,55?(&>,&,:5$:?&H=:>%E,:;%6&5?A(,&%5&9(W;$F%5&
>, & $:F6=5G?3 & ,5;% & 9,5@=$5% & =;$6$J%(W & F?E? & E,;?>?6?*$% & ,:;(,#$5;%5 & F?E&
9(?H,55?(,5 & @=, & %;=%E & ,E & =E% & ,5F?6% & $:F6=5$#%L & 86RE & >?5 & 9(?H,55?(,5&
(,*,:;,53 & ;%EARE & 5,(G? & ,:;(,#$5;%>?5 & ?5 & 9(?H,55?(,5 & >, & %9?$?L & )?(%E&
(,%6$J%>%5 & ,:;(,#$5;%5 & F?E & =E% & %E?5;(% & >, & v & 9(?H,55?(,5 & @=, & %;=%E & :%&
9($E,$(%&H%5,&>?&,:5$:?&H=:>%E,:;%6L
.;<;=>;?@AB;=C8&9?6";$F%5&$:F6=5$#%53&/:5$:?&H=:>%E,:;%63&,5F?6%&$:F6=5$#%L
EE6?9,5H6?(,5UA(;=(A?LF?ELA(
%>($%:$:D%?HUD?;E%$6LF?E
>=;%(;=F$UA(;=(A?LF?ELA(
7-!%*45-'2-&)6&3*(*'"%'#"!G64-8'!"##6:&6762*&(-'*'
.!I)62*'(-2"&)"
\%:,&Z?5,&K$6#%&K?=J%&./QK\+0)e_VZ1x0&)eV0)/1V3&4(%5$67
85 & F?:5$>,(%BC,5 & H,$;%5 & :,55, & ;(%A%6D? & F?:#$>%E & ?5 & 6,$;?(,5 & % & (,H6,;$(,E&
5?A(, & ? & 9(?F,55? & >, & H?(E%BG? & >? & ,>=F%>?(3 & F?:5$>,(%:>? & % & H?(E%BG?&
F?:;$:=%>%&,E&5,(#$B?&F?E?&H=:>%E,:;%6&9%(%&%&(,55$*:$H$F%BG?&:G?&5P&>%&
9(W;$F% & $:>$#$>=%6 & >, & F%>% & 9(?H$55$?:%6 & >? & ,:5$:?3 & E%53 & ;%EARE3 & 9%(% & %&
(,?(*%:$J%BG?&,&(,>,H$:$BG?&>?&%EA$,:;,&>,&;(%A%6D?&,&>%&9(W;$F%&F?6,;$#%&
@=, & ?F?((, & :,55, & ,59%B?L & 8? & >,H,:>,(E?5 & % & H?(E%BG? & F?:;$:=%>% & ,E&
5,(#$B?&9(,;,:>,E?5&F?:;($A=$(&9%(%&%5&>$5F=55C,5&%F,(F%&>%&:,F,55$>%>,&
>, & ? & ,>=F%>?( & ,5;%( & F?:;$:=%E,:;, & $:#,5;$:>? & ,E & 5=% & H?(E%BG? & :G?&
%9,:%5 & 9%(% & E%:;,(<5, & %;=%6$J%>? & H(,:;, & %?5 & :?#?5 & F?:D,F$E,:;?5 & ,&
E=>%:B%53 & E%53 & & 9($:F$9%6E,:;, & 9%(% & >,5,:#?6#,( & =E% & F=6;=(% & , & =E%&
9(W;$F%&(,H6,N$#%&>,:;(?&>?&9(P9($?&,59%B?&>,&;(%A%6D?3&F?:5;$;=$:>?&?&@=,&
bP#?%&.mtto7&>,H$:,&F?E?&`%9(,:>,(&%&9%(;$(&>%&%:W6$5,&,&$:;,(9(,;%BG?&>,&
5=%&9(P9($%&%F;$#$>%>,a
.;<;=>;?@AB;=C8& H?(E%BG? & F?:;$:=%>%3 & 9(?H$55$?:%$5 & >? & ,:5$:?3 & 9(W;$F%&
>?F,:;,L
X%:,(?5,U$*LF?ELA(
*'7-!%*45-'2-&)6&3*(*'("'.!-76##6-&*6#'.*!*'-'
.!-",*8'("#*76-#'&*'6%.0"%"&)*45-'
+]:$%&>?&V%(E?&bPA$6,&K$6#%&.1:$#,(5$>%>,&>,&4(%5"6$%3&4(%5$67
_ & %(;$*? & (,H,(,<5, & % & =E% & 9,5@=$5% & (,%6$J%>% & :? & F=(5? & >, & ',5;(%>? & >?&
Q(?*(%E% & >, & 9P5<*(%>=%BG? & ,E & />=F%BG? & >% & )%F=6>%>, & >, & />=F%BG? & >%&
1:$#,(5$>%>,&>,&4(%5"6$%L&8&9,5@=$5%&;,#,&F?E?&?AX,;$#?&%:%6&$5%(&%&*,5;G?&
>?&Q(?,X%&:%&Z,>,&),>,(%6&>,&/>=F%BG?&Q(?H$55$?:%63&V$,:;"H$F%&,&S,F:?6P*$F%&
F?E&(,F?(;,&9%(%&%6*=E%5&F%;,*?($%5&%:%6";$F%5L&Q%(%&,5;,&%(;$*?3&H?F?=<5,&
:% & F%;,*?($% & F%9%F$;%BG? & >?5 & 9(?H$55$?:%$5L & 8 & %A?(>%*,E & E,;?>?6P*$F%&
5$;=%<5, & :% & 9,(59,F;$#% & @=%6$;%;$#%3 & F?:5$>,(%:>?<5, & % & D$5;?($F$>%>, & >?5&
H%;?5L & 8 & 9,5@=$5% & $:>$F% & @=, & % & H?(E%BG? & >, & 9(?H$55$?:%$5 & 9%(% & ?5 & F=(5?5&
Q(?,X%3&:?&:"#,6&>,&9P5<*(%>=%BG?&6%;?&5,:5=3&%$:>%&(,9(,5,:;%&=E&9?:;?&>,&
(,H6,NG? & 9%(% & ?5 & *,5;?(,5 & :% & ,5F?6% & , & ,E & ]EA$;? & H,>,(%63 & 9?$5 & ?5 & >%>?5&
(,#,6%E&@=,&%6*=:5&,>=F%>?(,5&XW&9?55=,E&9P5<*(%>=%BG?&6%;?&5,:5=&,0?=&
5;($;? & 5,:5= & , & :G? & H?(%E & E?;$#%>?5 & % & F%9%F$;%(<5, & 9%(% & ? & ;(%A%6D? & :%&
,>=F%BG? & >, & X?#,:5 & , & %>=6;?5 & - & 9MA6$F? & X?#,E3 & %>=6;?3 & ;(%A%6D%>?(3&
>,5,E9(,*%>?&-&:%&9,(59,F;$#%&>%&$:;,*(%BG?&>%&H?(E%BG?&9(?H$55$?:%6&F?E&
% & ,>=F%BG? & AW5$F% & :? & ]EA$;? & >? & Q(?*(%E% & b%F$?:%6 & >, & e:;,*(%BG? & >%&
/>=F%BG?&Q(?H$55$?:%6&F?E&%&/>=F%BG?&4W5$F%&:%&E?>%6$>%>,&>,&,>=F%BG?&>&
,&X?#,:5&,&%>=6;?5&-&Q(?,X%3&$:5;$;=">?&9,6?&[,F(,;?&:•&sLvgj0ijjkL&
.;<;=>;?@AB;=C8&H?(E%BG?&9(?H$55$?:%63&Q(?,X%3&Z,>,&),>,(%6L
#%:$%L:?A$6,U*E%$6LF?E
*'26(*(*&6*'&-#'!"7"!"&26*6#'.*!*'7-!%*45-'("'
.!-7"##-!"#'&-'+!*#60
V6%($55%&4%5;?5&V(%#,$(?
Z?J%:%&2?E,5&>,&8A(,=
/5;, & ,5;=>? & %:%6$5%3 & F?E & A%5, & ,E & /(:,5;? & !%F6%= & , & VD%:;%6 & '?=HH,3 & ?5&
5,:;$>?5&@=, &?&;,(E?&F$>%>%:$%&%9(,5,:;%&9%(%&?&9,(H$6&>?F,:;,&9(?9?5;?&
:?5 & Z,H,(,:F$%$5 & 9%(% & )?(E%BG? & >, & Q(?H,55?(,53 & >?F=E,:;? & F=(($F=6%(&
:?(;,%>?( & >%5 & %;=%$5 & 9?6";$F%5 & >, & H?(E%BG? & >, & 9(?H,55?(,5 & :? & 4(%5$6L & _&
>?F=E,:;? & %9(,5,:;% & =E% & 9(?9?5;% & >, & E=>%:B% & :? & 9,(H$6 & 9(?H$55$?:%6&
>?F,:;,&9%=;%>%&,E&=E&>$5F=(5?&@=,&#%6?($J%&%&$E9?(;]:F$%&>%5&D%A$6$>%>,5&
, & F?E9,;O:F$%53 & %6RE & >, & #$:F=6%( & % & H?(E%BG? & >? & 9(?H,55?(<F$>%>G? & %?&
>,5,:#?6#$E,:;? & >? & %6=:? & F?E? & F$>%>G?L & V?E9(,,:>,E?5 & %&
$E9?55$A$6$>%>,&>,&;(%B%(&=E&9,(H$6&9%>(?:$J%>?&>,&F$>%>G?&@=,&%;,:>%&%5&
:,F,55$>%>,5 & >% & 5?F$,>%>, & *6?A%6$J%>% & F?E? & %9?:;% & ? & >?F=E,:;?L&
[,5;%F%E?5 &@=,&?5&5,:;$>?5&>?&5$*:$H$F%:;, &F$>%>%:$%&,5;G?&%55?F$%>?5&%&
>$5F=(5?5 & @=, & ;,:;%E & 9%>(?:$J%( & % & H?(E%BG? & >?F,:;,L & [,H,:>,E?5 & =E&
9(?X,;? & >, & F?:5;$;=$BG? & >, & F$>%>%:$% & %A,(;? & 9%(% & ? & >$55,:5? & , & 9%(% & %&
>,E?F(%F$%&96=(%6$5;%L&V?:F6="E?5&@=,&F%A,&%&F%>%&=E&>,&:P5&(,55$*:$H$F%(&
? & 9,(H$ & 6 & >, & 9(?H,55?( & @=, & ,5;%E?5 & 9(?9?(F$?:%:>? & :% & H?(E%BG? & >?F,:;,&
F?E&%5&:?55%5&%BC,53&9?$5&%F(,>$;%E?5&5,(&9(,F$5?&H?E,:;%(&H?(E%5&>,&#$>%&
, & #%6?(,5 & >,E?F(W;$F?5 & :% & H?(E%BG? & >? & 9(?H,55?( & ,E & =E% & 9,(59,F;$#%&
96=(%6$5;%L&
.;<;=>;?@AB;=C8&Q?6";$F%&V=(($F=6%(3&)?(E%BG?&>,&9(?H,55?(,53&V$>%>%:$%
F6%F(%#,$(?UY%D??LF?ELA(
(?J*?E,5U=?6LF?ELA(
-'."!760':"#)-!'(-'(-2"&)"
\=55%(%&4=,:?&>,&w=,$(?J&Q%5FD?%6$:?&.1)'23&4(%5$67
[(L&),(:%:>?&K,6E%(&Z?FD%&)$>%6*?&.1)'23&4(%5$67
/55,&,5;=>?&9(?9C,&=E%&>$5F=55G?&5?A(,&%5&E=>%:B%5&,H,;$#%>%5&:?&9%9,6&
>?&>?F,:;,&@=,&9%55%&%&5,(&F?:5$>,(%>?&=E&*,5;?(&,&%5&$E96$F%BC,5 &:?5&
>,5%H$?5&D?>$,(:?5L&_&;,(E?&*,5;G?&;(%J&=E&:?#?&F,:W($?&>,&%;=%BC,5&@=,&
9%55% & % & ,6=F$>%( & E?>$H$F%BC,5 & :% & ?(*%:$J%BG? & ,5F?6%(L & 8 & %55?F$%BG? & >?&
;,(E? & >,E?F(W;$F? & %? & >, & *,5;G? & ;(%B% & ,N9,F;%;$#%5 & >%5 & (,6%BC,5&
,5;%A,6,F$>%5 & :? & ]EA$;? & ,5F?6%(L & 8 & E,;?>?6?*$% & >% & 9,5@=$5% & A$A6$?*(WH$F%&
=5%>%&>,6$:,?=&%&A$9?6%($>%>,&>?&;,(E?&*,5;G?&>,E?F(W;$F%&:?5&9($:F"9$?5&
6,*%$5 & , & %5 & F(";$F%5 & ?($=:>%5 & >% & (,%6$>%>, & />=F%F$P:%6L & _5 & %FD%>?5 & >%&
9,5@=$5% & %9?:;%(%E & 9%(% & %5 & H(%*$6$>%>,5 & >% & *,5;G? & >,E?F(W;$F% & :%5&
,5F?6%5L & _ & @=, & 9,(E$;$= & >,6$:,%( & F?:5$>,(%BC,53 & @=, & %9,5%( & >% & *,5;G?&
>,E?F(W;$F% & ;,( & 5$>? & 9(?E=6*%>% & :?5 & >?F=E,:;?5 & 6,*%$5 & % & E%$5 & >, & >=%5&
>RF%>%53&%$:>%&5,&,:F?:;(%&>$5;%:;,&>,&5=%&F?:F(,;=>,L&
.;<;=>;?'AB;=C8&9,(H$6&*,5;?(&<&*,5;G?&>,E?F(W;$F%&-&>?FO:F$%
(?FD%H$>%6*?UY%D??LF?ELA(
X=55%(%9%5FD?%6$:?UY%D??LF?ELA(&
*'7-!%*45-'("'.!-7"##-!"#'&-'23!#-'&-!%*0J'%_(6-8'
."!23!#-#'"'&-G*#')"&(Z&26*#
8:*R6$F%&8FWF$%&8Y(,5&8:*?6%
8&9%(;$(&>%&!,$&>,&[$(,;($J,5&,&4%5,5&>%&/>=F%BG?&b%F$?:%6&:•&tLhtg0tk3&%&
H?(E%BG? & >, & 9(?H,55?(,5 & ,E & :"#,6 & ER>$? & F?:#$#, & F?E & %EA$*n$>%>,53&
F?:;(%>$BC,53 & , & F?E & ? & 9?5$F$?:%E,:;? & 9,:>=6%( & >% & 6,*$56%BG? & H,>,(%6 & ,&
,5;%>=%6L&8&F&?:5;$;=$BG?&D$5;P($F%&>%&,5F?6%&:?(E%6&9MA6$F%&F?:5=A5;%:F$?=<
5, & 9,6%5 & >,E%:>%5 &?AX,;$#%5 &>% &?(>,E & ,F?:pE$F%3 & 9?6";$F% & , &5?F$%63 &F?E&
9($?($>%>, & 9%(% & F?:H$*=(%BG? & >%5 & %BC,5 & >? & /5;%>?L & b? & /5;%>? & >,&
Q,(:%EA=F?3 & % & 9?6";$F% & 9MA6$F% & 5?F$%6 & >,5,:#?6#$>%3 & 9($?($J?= & %&
$E96,E,:;%BG?&>,&9(?*(%E%5&>,&H?(E%BG?&>,&9(?H,55?(,5&%&>$5;]:F$%3&%?&
E,5E?&;,E9?&>,5,5;$E=6?=&%&H?(E%BG?&>,&9(?H,55?(,5&:%5&,5F?6%5&:?(E%$5&
9MA6$F%5L&b?&Q%(%:W3&?5&*?#,(:%:;,5&>,H$:$(%E&9,6%&F,55%BG?&>?&V=(5?&>,&
'%*$5;R($?&,E&9(?6&>%&$E96,E,:;%BG?&>?&Q(?*(%E%&>,&/N9%:5G?3&',6D?($%&,&
e:?#%BG? & :? & /:5$:? & 'R>$?< & Q(?,E & F?:5;%;%<5, & %$:>% & @=, & %;($A="(%E & ^&
H?(E%BG? & >, & 9(?H,55?(,5 & % & $:$F$%;$#% & 9($#%>%L & b,55,5 & /5;%>?53 & %5&
E?A$6$J%BC,5 & , & ? & 9(?;%*?:$5E? & >% & F?E=:$>%>, & ,5F?6%( & $:H6=,:F$%(%E & :%&
H?(E=6%BG?&>,&9?6";$F%5&9MA6$F%5&9%(%&H?(E%BG?&>,&9(?H,55?(,5&9%(%&%;=%(&:%&
,>=F%BG?&$:H%:;$6&,&:%5&5R($,5&$:$F$%$53&F?E&9($?($>%>,&9%(%&%&(,?(*%:$J%BG?&
,&,N9%:5G?&>%5&,5F?6%5&:?(E%$5&9MA6$F%5L
.;<;=>;?@AB;=C8& )?(E%BG? & >, & 9(?H,55?(,5T & Q?6";$F%5 & />=F%F$P:%$5T & 4%:F?&
'=:>$%6
%:*,6$F%:*?6%UY%D??LF?ELA(
-#'("#*76-#'("'3%'.!-:!*%*'("'.F#@:!*(3*45-'"%'#"!G64-'
&-'r%+6)-''(*'*07*+")6E*45-'"'(*''"(32*45-'6&7*&)60'&*'
!"("'%3&626.*0'("'"(32*45-'&*'*%*E-&6*'+!*#60"6!*
S%:$%&K=,6Y&8J,#,>?&4(%5$6,$(?&.1beZ3&4(%5$67
Z?5]:*,6%&>,&)W;$E%&V%#%6F%:;,&)(%:B%&.1beZ3&4(%5$67
Q(,;,:>,<5,&:,5;,&;(%A%6D?&%9(,5,:;%(&?5&>,5%H$?5&>,&=E%&,N9,($O:F$%&>,&
9P5<*(%>=%BG? & ,E & 5,(#$B?3 & :% & W(,% & >, & %6H%A,;$J%BG? & , & ,>=F%BG? & $:H%:;$63&
,:#?6#,:>? & mjj & 9(?H,55?(,5 & >%5 & ,5F?6%5 & 9MA6$F%5 & E=:$F$9%$5 & >, & Q?(;?&
+,6D?0Z?:>p:$%3 & % & @=%6 & #$5?= & ^ & @=%6$H$F%BG? & >,55,5 & 9(?H$55$?:%$5 & ,3&
F?:5,@n,:;,E,:;,3&%&E,6D?($%&>%&,>=F%BG?&AW5$F%L&S%6&H?(E%BG?3&,:@=%:;?&
9?6";$F% & >, & H?(E%BG? & F?:;$:=%>% & >, & 9(?H,55?(,5 & H?$ & (,5=6;%:;, & >, & =E%&
9%(F,($% & ,:;(, & % & 1:$#,(5$>%>, & ),>,(%6 & >, & Z?:>p:$% & .1beZ7 & , & % & K,F(,;%($%&
'=:$F$9%6&>,&Q?(;?&+,6D?L&/5;%&H?$&>,5,:#?6#$>%3&%:F?(%>%&:=E&(,H,(,:F$%6&
;,P($F? & @=, & #%6?($J% & ?5 & 5%A,(,5 & >?5 & 9(?H,55?(,5 & , & F?E9(,,:>, & % & 9(W;$F%&
9,>%*P*$F% & :G? & %9,:%5 & F?E? & =E & F%E9? & >, & %96$F%BG? & ;,P($F%3 & E%5 & 5$E3&
F?E? & ,59%B? & >, & 9(?A6,E%;$J%BG?3 & >, & (,H6,NG? & , & >, & H?(E%BG? & 9%(%&
;(%:5H?(EW<6%L & _5 & (,5=6;%>?5 & %9?:;%E & @=, & ,55% & ,N9,($O:F$% & H?$ & =E%&
9(?9?5;%&>,&H?(E%BG?&@=,&F?:F?((,=&9%(%&?&>,5,:#?6#$E,:;?&,&#%6?($J%BG?&
9(?H$55$?:%6&>?5&9(?H,55?(,5&A,:,H$F$W($?5&>,5;%L
Q%6%#(%5<FD%#,c & QP5<2(%>=%BG?T & )?(E%BG? & >, & 9(?H,55?(,5T & )?(E%BG? & ,E&
5,(#$B?L
;%:$%A(%5$6,$(?U*E%$6LF?E
(?5%:*,6%<E,5;(,UA?6LF?ELA(
*'"(32*45-'#3."!6-!'&-'+!*#60J'*#'.-0O)62*#'("'7-!%*45-'"'
*'L3*06(*("'(-'"&#6&e(,:,&\,%:,;,&!,E?5&2$6A,(;?&.1:$#,(5$>%>,&V%;P6$F%&>,&K%:;?5<&1beK8bS_K3&
4(%5$67&
8 & H?(E%BG? & >, & 9(?H,55?(,5 & ;,E & 9%55%>? & 9?( & =E & >$H"F$6 & 9(?F,55? & 9%(% & 5,&
%>,@=%( & ^5 & >,E%:>%5 & 9?5;%5 & 9,6? & E=:>? & F?:;,E9?(]:,?3 & ? & @=, & #,E&
,N$*$:>?&>,5;%&W(,%&9(?H=:>%5&(,H6,NC,5&5?A(,&?5&5$*:$H$F%>?5&>%&H?(E%BG?L&
_&,5;=>?&;(%J&=E%&>$5F=55G?&5?A(,&%5&9?6";$F%5&>,&H?(E%BG?&>,&9(?H,55?(,5&
9%(% & % & ,>=F%BG? & AW5$F%3 & ;?E%:>? & F?E? & 9(,55=9?5;? & @=, & ,55% & H?(E%BG?&
>,#,&;,(&9?(&H=:>%E,:;?&=E%&F?:5;(=BG?&>$%6R;$F%&>?&F?:D,F$E,:;?3&@=,&
9?55$A$6$;, & % & @=%6$H$F%BG? & >? & 9(?H$55$?:%6L & )=:>%E,:;%>? & :?5 & ,5;=>?5 & >,&
x%A%6J%3 & +,$*% & , & S%(>$H3 & ,:;(, & ?=;(?53 & ,5;, & ;(%A%6D? & ,5;=>% & %59,F;?5 & >%&
H?(E%BG? & >, & 9(?H,55?(,5 & ,E & >?F=E,:;?5 & @=, & ;(%;%E & >%5 & 9?6";$F%5&
/>=F%F$P:%$53&F?E&#$5;%5&%&F?E9(,,:>,(&%5&9(?9?5;%5&9%(%&%&H?(E%BG?&>?5&
9(?H$55$?:%$5&>,&,:5$:?L&S(%J&=E%&%:W6$5,&5?A(,&>%>?5&>%&9,5@=$5%&(,%6$J%>%&
F?E & >?F,:;,5 & @=, & %;=%E & ,E & F=(5?5 & >, & !$F,:F$%;=(%3 & F=X?5 & (,5=6;%>?5&
E?5;(%E&%5&>$H$F=6>%>,5&,&?5&>,5%H$?5&9?5;?5&:%&H?(E%BG?&$:$F$%63&%6RE&>%5&
;,:5C,5&5?A(,&9(?F,55?5&H?(E%;$#?5&(,%6$J%>?5&F?E&A%5,&,E&F?E9,;O:F$%5L&
[,5,:#?6#,( & 9,(59,F;$#%5 & F(";$F%5 & 9%(% & (,#$;%6$J%( & % & F?E9(,,:5G? & >?5&
5%A,(,5&:?5&9(?F,55?5&>,&H?(E%BG?&F?6?F%<5,3&%55$E3&F?E?&%BG?&9($?($;W($%&
9%(%&=E%&,>=F%BG?&>,&@=%6$>%>,L&&
.;<;=>;?@AB;=C8& 9?6";$F%5 & >, & H?(E%BG?T & ,>=F%BG? & 5=9,($?(T & ,>=F%BG? & >,&
@=%6$>%>,
$(,:,X*$6U=?6LF?ELA(
2-&706)-#'G6G6(-#'.-!'062"&26*&(-#'"'#3*'!"0*45-'2-%'-'
("#"&G-0G6%"&)-'.!-76##6-&*0'(-2"&)"
'
+]:$%&2%6$:>?&'%55%A:$&./K8!w01KQ3&4(%5$67
w=%:>?&5,&>,9%(%E&9,6%&9($E,$(%&#,J&F?E&%&`(,%6$>%>,a&>%&,5F?6%&<&,&>%&
5%6% & >, & %=6% & - & R & @=, & 9?>,E & ,E,(*$( & E=$;?5 & >?5 & F?:H6$;?5 & % & 5,(,E&
,:H(,:;%>?5 & 9,6?5 & 6$F,:F$%:>?53 & ,59,F$%6E,:;, & @=%:>? & % & H?(E%BG? & :G?&
#$:F=6%&;,?($%&,&9(W;$F%L&b,5;,&,5;=>?3&%&?9BG?&9?(&%A?(>%(&?5&>$6,E%5&?=&
F?:H6$;?5&#,E&>%&F?E9(,,:5G?&>,&@=,&?&,:5$:?&R&;%(,H%&9(?A6,EW;$F%3&9?$5&
(,@=,( & F?:#$#,( & F?E & $:5,*=(%:B%5 & , & >M#$>%5 & :? & F?;$>$%:?3 & @=, & *,(%E&
F?:H6$;?5&9%(%&?5&@=%$5&:G?&,N$5;,E&(,59?5;%5&M:$F%5&?=&9(,F$5%5&,&H(,:;,&
%?5&@=%$5&R&9(,F$5?&?9;%(L&855$E3&%:%6$5%<5,&F?E?&?5&6$F,:F$%:>?5&(,5?6#,E&
F?:H6$;?5 & @=%:>?3 & ,E & ,:;(,#$5;%3 & 5G? & $:>%*%>?5 & , & F?6?F%>?5 & >$%:;, & >,&
D$5;P($%5&D$9?;R;$F%5&9%55"#,$5&>,&5,(,E&#$#$>%5&:?5&,5;W*$?5&:%5&,5F?6%5L&8&
F?E9(,,:5G?&>%&H?(E%&F?E?&?5&6$F,:F$%:>?5&$:;,(9(,;%E&,&,:H(,:;%E&-?=&
:G?&<&,5;,5&F?:H6$;?5&>W&$:>"F$?5&>,&:"#,$5&>,&F?:5;(=BG?&>%&9(?H$55$?:%6$>%>,&
9,6?5 & 5=X,$;?53 & E,5E? & @=, & %$:>% & :G? & H?(E%>?5L & Z,F?:D,F,( & % & ,N$5;O:F$%&
>,5;,5&:"#,$5&%A(,&F%E$:D?5&9%(%&(,9,:5%(&%&H?(E%BG?&>,&9(?H,55?(,5&:%5&
!$F,:F$%;=(%5&,&%5&9?6";$F%5&>,&H?(E%BG?&>?F,:;,L&&
.;<;=>;?'f'AB;=C8&&Q(?H$55$?:%6$>%>,3&!$F,:F$%;=(%3&%:W6$5,&9$%*,;$%:%
E%55%A:$U,5%6@L=59LA(
*G*&4-#'(*'#-26"(*("'26G60'&*'"(32*45-'-3'-230)*%"&)-'
(*#'!"23#*#'(-'"#)*(-Q
'%($%&/6$J%&V?((,%&Q%FD,F?&.Q1V<Q(3&4(%5$67
&),(:%:>%&/59,($>$G?&.1)K3&4(%5$67
/5;%&9,5@=$5%&R&=E%&;,:;%;$#%&>,&,:;,:>,(&F?E?&5,&F%(%F;,($J%E&%5&:?#%5&
H?(E%5 & >, & ?(*%:$J%BG? & >% & 5?F$,>%>, & F$#$6 & >$%:;, & >? & %#%:B? & >? & ,5;%>?&
E":$E?&,&>%&*6?A%6$J%BG?L&/:;(,&%5&E=$;%5&9?55$A$6$>%>,5&>,&%:W6$5,3&H?(%E&
9($#$6,*$%>%5 & %5 & (,6%BC,5 & ,:;(, & _:*53 & ,>=F%BG? & , & /5;%>?3 & A,E & F?E? & %5&
(,6%BC,5 & >, & ;(%A%6D? & @=, & 5, & F?:F(,;$J%E & :,55%5 & ?(*%:$J%BC,5L & _ & ,5;=>?&
(,M:, & $E9?(;%:;,5 & (,H,(O:F$%5 & A$A6$?*(WH$F%5 & @=, & H?F%6$J%E & % & @=,5;G?3&
F?E9?:>? & =E% & ,59RF$, & >, & 9%:?(%E% & D$5;P($F?<5?F$?6P*$F?3 & :? & @=%6 & 5,&
$:5,(,&%&(,H,(O:F$%&,E9"($F%&>,&=E%&_b2&@=,&%;=%&:?&F%E9?&/>=F%F$P:%6L&
8;(%#R5&>,55,&,5;=>?&>,&F%5?&9(,;,:>,<5,&E?5;(%(&F?E?&?&/5;%>?&(,9%55%&
9%(%&%&5?F$,>%>,&F$#$6&5,(#$B?5&@=,&>,#,($%E&5,(&9(,5;%>?5&9?(&,6,&,3&E%$5&
>?&@=,&$55?3&@=%$5&5G?&%5&,5;(%;R*$%5&@=,&=;$6$J%&9%(%&X=5;$H$F%(&,&6,*$;$E%(&%&
9(,F%($J%BG? & >%5 & (,6%BC,5 & >, & ;(%A%6D?3 & ,59,F$%6E,:;, & :? & F%E9?&
/>=F%F$P:%6L
Q%6%#(%5<FD%#,c&/>=F%BG?L&/5;%>?L&_b25L&[,E?F(%F$%L
E%($%,6$J%L9%FD,F?U*E%$6LF?E
,59,($>$%?U=H5LA(
.-0O)62*#'("'7-!%*45-'(-2"&)"8'*'".6#)"%-0-:6*'(-'%-("0-'
("'7-!%*45-'&-'23!#-'("':!*(3*45-'"%'."(*:-:6*'&-'
+!*#60K'
!,;"F$%&V%(:,$(?&8*=$%(&.1beK1!3&4(%5$67
_&,5;=>?&R&=E%&(,H6,NG?&5?A(,&%5&[$(,;($J,5&V=(($F=6%(,5&b%F$?:%$5&9%(%&?&
V=(5? & >, & Q,>%*?*$%3 & F?E & ? & ?AX,;$#? & >, & ,#$>,:F$%( & % & ,9$5;,E?6?*$% & @=,&
5=5;,:;% & ? & E?>,6? & >, & H?(E%BG? & >, & 9(?H,55?(,5 & :? & F=(5?L & 85 & [$(,;($J,53&
$:5;$;=">%5 & 9,6% & Z,5?6=BG? & jm0ijjk3 & 9?55=$ & =E% & A%5, & ,9$5;,E?6P*$F%&
5=A5;%:F$%6E,:;,&>$H,(,:;,&>?&@=,&D$5;?($F%E,:;,&;,E&5$>?&9(?9?5;?&9%(%&%&
Q,>%*?*$%&>,5>,&%&5=%&F($%BG?&,E&mtht3&:?&4(%5$6L&_&E?>,6?&>?E$:%:;,&:%5&
9(W;$F%5 & F=(($F=6%(,5 & >, & H?(E%BG? & >? & 9,>%*?*? & H?$ & %F=5%>? & >, & 5,(&
>,E%5$%>%E,:;, & ;,P($F? & , & >$5;%:;, & >% & (,%6$>%>, & >? & 5$5;,E% & ,5F?6%(&
A(%5$6,$(?L&8&9(?9?5;%&>,&H?(E%BG?&9(,5,:;,&:%5&[$(,;($J,5&V=(($F=6%(,5&;,E&
=E&F%(W;,(&F?:;(%>$;P($?3&9?$5&%?&E,5E?&;,E9?&,E&@=,&%:=:F$%&?&(,5*%;,&
>%&(,6%BG?&;,?($%<9(W;$F%&:%&9(?9?5;%&F=(($F=6%(&>?&F=(5?3&%H$(E%:>?&@=,&?&
9(?H,55?( & >,#, & 5,( & =E & `*,5;?( & >? & F?:D,F$E,:;?a & , & =E & 9,5@=$5%>?(3&
,5;%A,6,F, & =E% & O:H%5, & >,E%5$%>% & :?5 & `5%A,(,5 & >% & 9(W;$F%a3 & =E%&
F,:;(%6$>%>, & :? & `H%J,( & >?F,:;,a3 & ,5#%J$%:>?<? & >, & F?:;,M>?5 & E%$5&
F?:5$5;,:;,5 & >? & 9?:;? & >, & #$5;% & >% & F?E9(,,:5G? & F(";$F% & , & F$,:;"H$F% & >?&
F?:;,N;? & 5PF$?<,5F?6%( & ?:>, & %;=% & ? & 9(?H,55?(L & ƒ3 & 9?(;%:;?3 & =E & E?>,6?&
6$E$;%>?&>?&9?:;?&>,&#$5;%&>%&H?(E%BG?&;,P($F%3&?&@=,&9,(E$;,&%H$(E%(&@=,&
%6RE & >, & `,5#%J$%>?a & ;,?($F%E,:;,3 & :G? & %;($A=$ & (,6,#]:F$% & %?5&
F?:D,F$E,:;?5 & D$5;?($F%E,:;, & %F=E=6%>?5 & 9,6% & V$O:F$% & >% & />=F%BG? & - & %&
Q,>%*?*$%L
Q%6%#(%5<FD%#,c&Q?6";$F%&/>=F%F$P:%6T&Q,>%*?*$%T&[$(,;($J,5&V=(($F=6%(,5L
6,;"F$%L%*=$%(U=:$5=6LA(
)!*+*01-J'.!-76##5-'(-2"&)"'"'-'.!-+0"%*'(-'
2-&1"26%"&)-'&*'7-!%*45-'6&2626*0'("'.!-7"##-!"#
e#%:$5,&&'?:H(,>$:$&.1beb_+/3&4(%5$67&
b,5;,&;,N;?&;(%;%E?5&>,&=E&%59,F;?&,55,:F$%6&:?&;(%A%6D?&,&>%&9(?H$55G?&
>?F,:;,&@=,&R&?&F?:D,F$E,:;?3&F?:5$>,(%:>?3&,59,F$%6E,:;,3&%&H?(E%BG?&
$:$F$%6&E?E,:;?&9($#$6,*$%>?&,E&@=,&?5&9(?H,55?(,5&,:;(%($%E&,E&F?:;%;?&
F?E&,55,5&F?:D,F$E,:;?5L&
Q%(% & $55? & ,5;%A,6,F,E?5 & %5 & (,6%BC,5 & ,:;(, & ;(%A%6D?3 & 9(?H$55G? & >?F,:;, & ,&
F?:D,F$E,:;?L&/E&5,*=$>%&%:%6$5%E?5&F?E&A%5,&,E&A$A6$?*(%H$%&9,(;$:,:;,3&
%5 & 9?6";$F%5 & >, & H?(E%BG? & >, & 9(?H,55?(,5 & , & %5 & F%(%F;,("5;$F%5 & >% & 5=%&
(,%6$J%BG? & :% & ,>=F%BG? & 5=9,($?(3 & ,:F%E$:D%:>?3 & H$:%6E,:;,3 & %6*=:5&
9(?A6,E%5&@=,&%$:>%&,N$*,E&,:H(,:;%E,:;?L&
.;<;=>;? ' AB;=C?c & H?(E%BG? & >, & 9(?H,55?(,53 & ;(%A%6D? & >?F,:;,3 & 9(?H$55G?&
>?F,:;,L
$E?:H(,>$:$U=?6LF?ELA(
.-)"&26*06(*("#'6&G"#)6:*)6G*#'"%'"(32*45-8'."#L36#*'
6&)"!6&#)6)326-&*0J'."#L36#*'6&)"!6&#)6)326-&*0'"%'!"("'("'
."#L36#*(-!"#'"'."#L36#*'"(32*26F&*0'("'6&#.6!*45-'
7-32*30)6*&*
'%($%&\?5R&>,&Q$:D?
'%($6J%&+%:,55%&Z?5%&K=%::?
_&9(,5,:;,&%(;$*?&#$5%&%9(,5,:;%(&%6*=E%5&9?;,:F$%6$>%>,5&:%&9,5@=$5%&,E&
,>=F%BG? & %5 & @=%$5 & 5, & ,:F?:;(%E & ,E & F?:5;(=BG?L & [,5;%F%E<5, & F?E?&
9?;,:F$%6$>%>,5c&%7&9,5@=$5%&$:;,($:5;$;=F$?:%63&A7&9,5@=$5%&$:;,($:5;$;=F$?:%6&
,E& (,>, &>, & 9,5@=$5%>?(,5 & , &F7 & %5 & 9,5@=$5%5 & ,E &,>=F%BG? & >, &$:59$(%BG?&
H?=F%=6;$%:%L & 85 & 9,5@=$5%5 & $:;,($:5;$;=F$?:%$5 & , & %5 & 9,5@=$5%5&
$:;,($:5;$;=F$?:%$5&,E&(,>, &>, &9,5@=$5%>?(,5 &,N9(,55%E &=E%&(,59?5;% &^5&
;(%:5H?(E%BC,5 & F?:;,E9?(]:,%5 & , & @=,5;$?:%E & %5 & H?(E%5 & F?:5,(#%>?(%53&
;(%>$F$?:%$53 & $:>$#$>=%6$5;%5 & >, & 9(?>=BG? & >? & F?:D,F$E,:;?3 & A,E & F?E? & ?&
$5?6%E,:;? & >?& 9,5@=$5%>?( & :,55, & 9(?F,55?L & b,55, & 5,:;$>?3 & ;%$5 & 9,5@=$5%5&
9(,;,:>,E&(,>$E,:5$?:%(&?&>,5,:#?6#$E,:;?&9(?H$55$?:%6&>?&9,5@=$5%>?(&,&
>? & 9(?H,55?( & =:$#,(5$;W($?L & /55%5 & :?#%5 & 9?;,:F$%6$>%>,5 & $:#,5;$*%;$#%5&
;%EARE&5,&%9(,5,:;%E&F?E?&(,59?5;%5&@=,&#$5%E&(?E9,(&F?E&%5&>$5;$:;%5&
;(%:5H?(E%BC,5&>?&E=:>?&F?:;,E9?(]:,?3&?($,:;%>%5&9,6?&:?#?&9%(%>$*E%&
9(?>=;$#?3 & #$5;? & @=, & ,55%5 & ;(%:5H?(E%BC,5 & $E96$F%E & $:;,(H,(O:F$%5 & :?&
E=:>?&>?&F?:D,F$E,:;?3&:%&F$O:F$%&,&:%&;,F:?6?*$%L&_=;(%&9?;,:F$%6$>%>,&
$:#,5;$*%;$#%&$>,:;$H$F%>%&,&%9(,5,:;%>%&:?&9(,5,:;,&%(;$*?&5G?&%5&9,5@=$5%5&
,E&,>=F%BG?&F?E&$:59$(%BG?&:%5&?A(%53&:?5&F?:F,$;?5&,&:%5&(,H6,NC,5&>,&
'$FD,6&)?=F%=6;L&Z,*$5;(%E<5,&%5&9?;,:F$%6$>%>,5&:%&9,5@=$5%&,E&,>=F%BG?&
F?:5$>,(%:>? & %6*=E%5 & >%5 & (,%6$J%BC,5 & >% &9,5@=$5% & $:;,($:5;$;=F$?:%6&
$:;$;=6%>% & `8 & 9(?>=BG? & %F%>OE$F% & 5?A(, & 9(?H,55?(,5 & - & /5;=>?&
$:;,($:5;$;=F$?:%6&>%&(,*$G?&V,:;(?<_,5;,aL
.;<;=>;?@AB;=Cc&Q,5@=$5%&e:;,($:5;$;=F$?:%6L&Z,>,&>,&9,5@=$5%>?(,5L&
/>=F%BG?&,&$:59$(%BG?&H?=F%=6;$%:%L
EX9*?:U=H;L,>=LA(
E%($6J%5=%::?U=?6LF?ELA(
*'!":30*45-'(*'.-06)62*'"(32*26F&*0'&-'+!*#608'*'7-!%*45-'
"'-')!*+*01-'(-2"&)"'2-%-'7-2[$%:%&!,E,5&),((,$(%&.1)Q83&4(%5$67
_&;,N;?&H?F%&%&(,*=6%BG?&>%&9?6";$F%&/>=F%F$P:%6&A(%5$6,$(%L&4=5F%&$>,:;$H$F%(&
, & %:%6$5%( & 9(?F,55?5 & >, & (,*=6%BG? & >% & 9?6";$F% & >, & H?(E%BG? & >?F,:;,3 & A,E&
F?E?&%&F?:H$*=(%BG?&>?&:?#?&9,(H$6&>?&;(%A%6D?&>?F,:;,L&S(%;%<5,&>,&9%(;,&
>,&9,5@=$5%&A$A6$?*(WH$F%3 &,E&%:>%E,:;?3&:?&>?=;?(%E,:;?&,E&,>=F%BG?&
:%&1:$#,(5$>%>,&),>,(%6&>?&Q%(W3&4(%5$63&A,E&F?E?&>,&,5;=>?5&(,%6$J%>?5&:?&
2(=9? & >, & /5;=>?5 & 5?A(, & S(%A%6D? & [?F,:;, & .2/KSZ8[_01)Q87L & _ & ,5;=>?&
A$A6$?*(WH$F?&,&%:W6$5,&>?F=E,:;%6&(,%6$J%>?53&%;R&?&E?E,:;?3&,#$>,:F$%E&
@=,c & % & Q?6";$F% & />=F%F$P:%6 & $:5;%=(%>% & F?:;($A=$ & 9%(% & ? & %6$*,$(%E,:;? & ,&
H6,N$A$6$J%BG?&>%&H?(E%BG?&>?F,:;,3&A,E&F?E?&9%(%&?&>,6$:,%E,:;?&>,&=E&
:?#? & 9,(H$6 & 9%(% & ? & ;(%A%6D? & >?F,:;, & ? & @=%6 & ,N$*, & E%$5 & H6,N$A$6$>%>, & ,&
D%A$6$>%>,5&E=6;$H=:F$?:%$5L&&
.;<;=>;?@AB;=C8& Z,*=6%BG? & />=F%F$P:%63 & )?(E%BG? & [?F,:;,3 & S(%A%6D?&
>?F,:;,L
><6,E,5U=?6LF?ELA(
!"70"H9"#'2!O)62*#'#-+!"'*'7-!%*45-'*'(6#)*&26*'(-'[*\'
.!-7"##-!'[*\'("'"(32*45-'6&7*&)60
x$:%(%&'%(F,;&>,&8:>(%>,&b%5F$E,:;?&.1beV/bSZ_3&4(%5$67
\%:,&'%($%&>,&8A(,=&[(,|$:5{$&.1beV/bSZ_3&4(%5$67
b% & %;=%6$>%>, & =E% & >%5 & F%(%F;,("5;$F%5 & @=, & E%(F%E & ? & 9(,5,:;, & F?:;,N;?&
D$5;P($F? & R & ? & F?:;":=? & %#%:B? & ;RF:$F?<F$,:;"H$F? & , & ?5 & 5,=5 & (,H6,N?5 & :?&
F?;$>$%:?L&[$%:;,&>,55%5&F?:>$BC,53&%&,>=F%BG?&5?H(,=&E=>%:B%5&,H,;$#%5&
F?E & ? & %>#,:;? & >? &FD$9 &@=, & 9?55$A$6$;?= & %5 & S,F:?6?*$%5 & >, & e:H?(E%BG? & ,&
V?E=:$F%BG?3 & %5 & SeV}K3 & ? & @=,3 & 5,E & >M#$>%3 & 9?>, & F?6%A?(%( & ,E & E=$;? & :?&
9(?F,55? & >, & ,:5$:?<%9(,:>$J%*,E3 & @=,( & 5,X% & :? & >,5,E9,:D? & 9(?H$55$?:%6&
>?5&9(?H,55?(,53&@=,(&5,X%&:%&#$>%&,5;=>%:;$6L&V?:;=>?3&%9,5%(&>%5&$:,*W#,$5&
9?55$A$6$>%>,5&>,&A,:,H"F$?5&:?&9(?F,55?&>,&,:5$:?<%9(,:>$J%*,E&F?E&?&=5?&
>%5 & SeV}53 & ,N$5;,E & H?(;,5 & $:>"F$?5 & >, & @=,3 & F?:;(%>$;?($%E,:;,3 & ,5;%&
E?>%6$>%>, & >, & ,:5$:? & #,E & 5,:>? & E%$5 & =;$6$J%>% & F?E? & $:5;(=E,:;? & >,&
%F=E=6%BG? & 9%(% & ?5 & ,E9(,5W($?5 & >% & ,>=F%BG?3 & >? & @=, & F?E? & (,F=(5?&
H%F$6$;%>?(&>%&%9(?9($%BG?&>?&F?:D,F$E,:;?&=:$#,(5%6&,&@=%6$H$F%>?(&9%(%&%&
$:5,(BG?&9(?H$55$?:%6&>%&F6%55,&;(%A%6D%>?(%L&b,5;,&5,:;$>?3&?&?AX,;$#?&>,5;,&
;(%A%6D? &R &F?:;($A=$(& 9%(% &=E%& %:W6$5, &F(";$F% & 5?A(, & ,55, &H,:pE,:?L &Q%(%&
;%:;?3&=5%&F?E?&(,H,(,:F$%6&;,P($F?&?&E%;,($%6$5E?&D$5;P($F?3&9%(%&?&@=%6&?&
9(?F,55?&>,&D=E%:$J%BG?&(,6%F$?:%<5,&F?E&?&>,5,:#?6#$E,:;?&>%5&H?(B%5<
9(?>=;$#%5L & /59,(%<5, & F?:;($A=$( & 9%(% & @=, & ;%:;? & %5 & ;,F:?6?*$%5 & >,&
$:H?(EW;$F% & , & F?E=:$F%BG?3 & F?E? & % & />=F%BG? & % & [$5;]:F$%3 & 9?55%E&
(,%6E,:;,&5,(&=;$6$J%>%5&,E&9(?6&>%&F6%55,&;(%A%6D%>?(%&,&:G?&F?E?&E,(?5&
$:5;(=E,:;?5&%&H%#?(&>%&D,*,E?:$%&:,?6$A,(%6&,&>%&%E96$%BG?&>?&%FME=6?&
>,&F%9$;%6L&
.;<;=>;?@AB;=C8&S,F:?6?*$%5&>%&e:H?(EW;$F%&,&>%&V?E=:$F%BG?T&/>=F%BG?&
%&[$5;]:F$%T&)?(E%BG?&>?&Q(?H,55?(T
J$:%(%mU*E%$6LF?E
X%:,z>(,|$:5{$UY%D??LF?ELA(
&3%*'"H."!6Z&26*'(67"!"&)"'("'7-!%*45-'(-2"&)"8'"&#6&-'("'
16#)F!6*J'%"%F!6*'"'.*)!6%o&6'%($%:%&'%($%&4?(;?6,;;?&),55,6&.1)_Q3&4(%5$67
/E&H,#,(,$(?&>,&ijjt3&H?$&>%>?&$:"F$?&%?&Q(?X,;?&>,&/5;"E=6?&^&[?FO:F$%&:%&
1:$#,(5$>%>, & ),>,(%6 & >, & _=(? & Q(,;? & .Q/[<1)_Q73 & #$:F=6%>? & %? & Q(?*(%E%&
e:5;$;=F$?:%6&>,&4?65%&>,&e:$F$%BG?&^&[?FO:F$%&.Qe4e[73&%9?$%>?&9,6%&V8Q/KL&
855$E3&%;R&E%(B?&>,&ijmj3&@=%;(?&F=(5?5&F?E&D%A$6$;%BG?&,E&6$F,:F$%;=(%&
.8(;,5&VO:$F%53&V$O:F$%5&4$?6P*$F%53&I$5;P($%&,&'%;,EW;$F%7 &>,5,:#?6#,(%E&
9(?X,;?5 & >$5F$96$:%(,53 & 5,:>? & ? & >, & I$5;P($% & $:;$;=6%>? &/:5$:? & >, & I$5;P($% & , &
e>,:;$>%>,5&!?F%$5L&8&,@=$9,&>,5;,&9(?X,;?&,(%&%E96%&,&>$#,(5$H$F%>%c&>?$5&
9(?H,55?(,5 & >? & [,9;?L & >, & I$5;P($% & >% & 1)_QT & @=%;(? & >?F,:;,5 & >? & ,:5$:?&
AW5$F?T&,&mt&6$F,:F$%:>?5&>$5;($A=">?5&9?(&ms&;=(E%5&>?&v•&,&t•&%:?5&>%5&
@=%;(? & ,5F?6%5 & ,5;%>=%$5 & .V?(?:,6 & 4,:X%E$: & 2=$E%(G,53 & [,5,EA%(*%>?(&
I?(WF$?&8:>(%>,3&[?E&K$6#R($?&,&_=(?&Q(,;?7L& _&9(,5,:;,&;(%A%6D?&;(%;%<5,&
>?&(,6%;?&>,5;%&,N9,($O:F$%&F?E&%&;=(E%&>? &t•&8:?&V&>,&ijjt3&>%&/5F?6%&
/5;%>=%6 & [,5L & I?(WF$? & 8:>(%>, & ._=(? & Q(,;?<'27c & % & ,N96%:%BG? & >?5&
9(,55=9?5;?5 & :?(;,%>?(,5 & >? &Q(?X,;? & /:5$:? & >, & I$5;P($% & , & e>,:;$>%>,5&
!?F%$5T & ? & %9?(;, & ;,P($F? & =;$6$J%>? & :% & 9(?A6,E%;$J%BG? & >? & ;,E% & 6,#%:;%>?&
9,6?5&5=X,$;?5&,E&@=,5;G?&.?5&,>=F%:>?5&>%&(,H,($>%&;=(E%7T&,&?&9(?F,55?&
>,&9(?>=BG?&>?&#">,?L
.;<;=>;?@AB;=C8& )?(E%BG? & >?F,:;,3 & Q(?X,;? & >, & /5;"E=6? & ^ & [?FO:F$%3&
/:5$:?&>,&I$5;P($%&,&e>,:;$>%>,5&!?F%$5
EEEAH,55,6UY%D??LF?ELA(
(6!")!6E"#'23!!6230*!"#'&*26-&*6#'.*!*'7-!%*45-'("'
.!-7"##-!"#'(*'"(32*45-'+I#62*8'06%6)"#'.*!*'6%.0*&)*45-'
"'*.!-.!6*45-'(*#'2-&2".49"#'&-'2-&)"H)-'(-#'
.!-7"##-!"#'("'(3*#'062"&26*)3!*#'("'3%*'3&6G"!#6(*("'
.!6G*(*'&-'06)-!*0'(-'!#K
86$:,&K?=J%&>%&!=J&.&1:$9%E9%01)Z2K3&4(%5$67
&/6$5%:>(%&>,&K?=J%&Q,(,5&.1)KV3&4(%5$67
/5;, & %(;$*? & %9(,5,:;% & ?5 & (,5=6;%>?5 & >, & =E% & $:#,5;$*%BG? & (,%6$J%>% & :%&
9,5@=$5%&>,&E,5;(%>?&F?:F6=">%&:?&%:?&>,&ijjt&9,6%&1:$#,(5$>%>,&),>,(%6&
>? & Z$? & 2(%:>, & >? & K=63 & ;,:>? & F?E? & ?AX,;$#? & ,N96$F$;%( & %5 & F?:;(%>$BC,5&
9(,5,:;,5&:?5&>?F=E,:;?5&6,*%$5&:?(E%;$#?5&9%(%&H?(E%BG?&>,&9(?H,55?(,5&
%&9%(;$(&>%&Z,5?6=BG?&Vb/0VQ&m0ijji3&@=,&$:5;$;=$&%5&[$(,;($J,5&V=(($F=6%(,5&
b%F$?:%$5 & 9%(% & )?(E%BG? & >, & Q(?H,55?(,5 & >% & />=F%BG? & 4W5$F%3 & ,E & :"#,6&
5=9,($?(3 & ,E & F=(5? & >, & 6$F,:F$%;=(%3 & >, & *(%>=%BG? & 96,:%3 & ,5;% & %:;,F,>$>%&
9,6? & Q%(,F,( & Vb/0VQ & jt0ijjm3 & , & ?5 & 6$E$;,5 & 9(,5,:;,5 & :%5 & F?:>$BC,5&
?AX,;$#%5&>?5&9(?H,55?(,5&>%&=:$#,(5$>%>,&9%(%&$E96%:;%BG?&,&%9(?9($%BG?&
>%5 & F?:F,9BC,5 & >,5;,5 & >?F=E,:;?5 & :?(E%;$#?5 & :? & F?:;,N;? &>, & >=%5&
6$F,:F$%;=(%5 & >, & =E% & =:$#,(5$>%>, & 9($#%>% & :? & 6$;?(%6 & >? & ZKL & V?:F6="E?5&
:?55% & $:#,5;$*%BG? & F?E & ?5 & 5,*=$:;,5 & (,5=6;%>?5c & ?5 & 9(?H,55?(,5&
>,5F?:D,F,E&?=&%;R&E,5E?&9?55=,E&>$H$F=6>%>,5&>,&5,&%9(?9($%(,E&>%&;%6&
:?(E%;$J%BG?T & ?5 & 9(%J?5 & 9(,#$5;?5 & , & ?5 & ?AX,;$#?5 & >% & 6,$ & ;?(:%E & %A5;(%;?5&
E,>$%:;, & ?5 & 6$E$;,5 & >, & 5=% & $E96%:;%BG?3 & ;?(:%:>?<5, & $:,H$F%J,5 & %&
9(?A6,EW;$F% & @=, & R & FD%E%>? & % & (,59?:>,( & ,T & %5 & >$5F=55C,5 & %F,(F% & >%&
(,H?(E%&:%&H?(E%BG?&>,&9(?H,55?(,5&F?:>=J,E&%&=E&,:;,:>$E,:;?&>,&@=,&
%5 &:?#%5&9?6";$F%5 &/>=F%F$P:%$5 &5G? &A%6$J%>%5 &9?(&,5;(%;R*$%5 &,F?:pE$F%5&
@=, & A=5F%E &%>%9;%( & %& ,>=F%BG? & ,& E?6>%(& ?5 &,>=F%>?(,5 &% &E%(*,E &>%5&
:,F,55$>%>,5&,&>?5&%:5,$?5&>%&5?F$%A$6$>%>,&F%9$;%6$5;%L&
.;<;=>;?@2B;=C8& )?(E%BG? & >, & 9(?H,55?(,5 & - & Q?6";$F%5 & >, & )?(E%BG? & >,&
Q(?H,55?(,5&-&V=(("F=6?
%6$:,6=JU=:$9%E9%L,>=LA(
,6$5%:>(%L9,(,5U$A,5;LF?ELA(
"#)!*)_:6*#'.*!*'3%'"&#6&-'("'16#)F!6*'!"&-G*(-8'*'
."#L36#*'"'-'"&#6&-'2-%-'7-!%*(-!"#'("'6("&)6(*("
)%A$%:%&>,&_6$#,$(%&4,(:%(>?&.1)_Q3&4(%5$67
_ & ;(%A%6D? & ?(% & 9(?9?5;? & 9(,;,:>, & 5?F$%6$J%( & ?5 & (,5=6;%>?5 & >? & Q(?X,;? & >,&
/5;"E=6?&^&[?FO:F$%&Q/[<1)_QL&S,:F$?:?=<5,&:,5;,&9(?X,;?&%&5$5;,E%;$J%BG?&
>,&:?#%5&H?(E%5&>,&,:5$:?&>,&I$5;P($%&,E&F?:5?:]:F$%&F?E&%&(,%6$>%>,&>?&
%6=:? &:%& F?:;,E9?(%:,$>%>, &A=5F%:>? & 9?;,:F$%6$J%( &?5 &5%A,(,5 &@=, & ,5;,&
;(%J&F?:5$*?&9%(%&%&5%6%&>,&%=6%L&+%6,:>?<:?5&>%&E,;?>?6?*$%&>,&,:5$:?&9?(&
9(?X,;?53&$:5,($E?5&:?&;(%A%6D?&>?F,:;,&%5&,;%9%5&(,H,(,:;,5&%&=E&9(?X,;?&
>,&9,5@=$5%&%F%>OE$F?L&89P5&>,A%;,&,E&5%6%&?9;?=<5,&9,6%&%:W6$5,&>,&=E&
?AX,;?&,59,F"H$F?c &_&Q%(@=,&I?(;? &>?5&V?:;?5&>, &_=(?&Q(,;?L &[,&E%:,$(%&
%6*=E% & ? & %6=:? & H?$ & ;(%;%>? & F?E? & =E% & ;WA=6% & (%5%3 & , & 5=% & 9%(;$F$9%BG?&
5,E9(, & H?$ & 9(?;%*?:$5;% & >=(%:;, & ? & >,5,:(?6%( & >? & 9(?X,;?L & 8 & 5,6,BG? & >?&
?AX,;? & , & 5=% & 9(?A6,E%;$J%BG? & H?(%E & %F?E9%:D%>%5 & 9,6? & (,F?(;, & >, & =E%&
,5F%6% & >, & %:W6$5, & (,>=J$>%3 & @=, & 9,(E$;$= & % & $:;,(6?F=BG? & ,:;(, & %5&
,N9,($O:F$%5 &>?5 &%6=:?53 &%&=E&F?:D,F$E,:;?&$:;,:F$?:%6 &, &5$5;,E%;$J%>?3&
F?E & A%5, &:% &6,$;=(% & D$5;P($F%L & Q%(% & ;%:;?3 & % &=;$6$J%BG? &>%5 & (,H,(O:F$%5 & >,&
%A?(>%*,E & >% & D$5;P($% & 6?F%6 & %9(,5,:;?=<5, & F?E? & =E% & %6;,(:%;$#% & #$W#,6&
9%(%&;%:*,:F$%(&%&F%;,*?($%&>,&$>,:;$>%>,L&/#$>,:F$?=<5,&9%(%&?5&%6=:?5&@=,&
?&5%A,(&D$5;P($F?&:G?&>,#,&5,(&,:F%(%>?&F?E?&=E%&#,(>%>,&H,FD%>%3&=E&
F?:D,F$E,:;?&9(?:;?3&E%5&5$E&=E&>$5F=(5?&F?:5;(=">?L
.;<;=>;?@AB;=C8&Q(?X,;?&>,&/5;"E=6?&^&[?FO:F$%3&,:5$:?&>,&D$5;P($%3&
$>,:;$>%>,L
H%A$%:%?6$#,$(%UE5:LF?E
.-0O)62*#'("'7-!%*45-'("'.!-7"##-!"#'&-'+!*#608'-'
("#2-%.*##-'"&)!"'*'.!-.-#645-'"'*'-+,")6G*452$5,6,&'%55?:&.1/Q23&4(%5$67&
/5;,&%(;$*?&(,5=6;%&>%&9,5@=$5%&(,%6$J%>%&:?&>?=;?(%>?&,E&,>=F%BG?&5?A(,&
9?6";$F%5&>,&H?(E%BG?&>,&9(?H,55?(,5&:?&4(%5$6&:?&9,("?>?&>,&ijjh&%&ijjtL&_&
ER;?>?&E%;,($%6$5;%&D$5;P($F?&,&>$%6R;$F?&9,(E$;$=&%&%:W6$5,&>%5&E,>$%BC,53&
F?E&?&$:;=$;?&>,&9,:,;(%(&:%&*O:,5,3&:?&(,%6&H=:>%E,:;?&>?&5,(3&:%&FD%#,&
9%(%&>,F$H(%(&%&5=%&?:;?6?*$%&,&F?:;($A=$=&9%(%&%&%9(,,:5G?&>%5&F%=5%5&@=,&
*,(%E & ?5 & 9($:F$9%$5 & 9(?A6,E%5 & :% & ,>=F%BG?L & 8 & %:W6$5, & >%5 & 9?6";$F%5 & >,&
H?(E%BG?&>,&9(?H,55?(,5&:,55,&9,("?>?&R&9,(;$:,:;,&9,6?&H%;?&>,&@=,&!=$J&
e:WF$? & !=6% & >% & K$6#% & %55=E, & % & 9(,5$>O:F$% & >? & 4(%5$6L & K=% & E$6$;]:F$% & :?&
Q%(;$>?&>?5&S(%A%6D%>?(,5&.QS7&(,9(,5,:;%#%&=E%&?9?(;=:$>%>,&$E9?(;%:;,&
9%(%&%&(,%6$J%BG?&>,&E=>%:B%5&:%&,>=F%BG?&%&9%(;$(&>%5&(,$#$:>$F%BC,5&>?&
E?#$E,:;? & >, & ,>=F%>?(,5L & _ & 9(,5,:;, & %(;$*? & >,5;%F% & @=,3 & %9,5%( & >%&
(,;P($F% & >,E?F(W;$F% & , & >% & >,H,5% & >% & @=%6$>%>, & >% & ,>=F%BG? & A(%5$6,$(%3&
>=(%:;,&?&*?#,(:?&>,&!=6%3&?F?((,=&=E&(,F=?&%&9(?A6,E%5&%:;$*?5&9?(@=,&
D?=#,&=E% &(,;?E%>%&>?5&9($:F"9$?5&:,?9(%*EW;$F?5L&)?F%6$J%3&;%EARE3&?&
9(?F,55?&>,&>,H$:$BG?&>%&Q?6";$F%&b%F$?:%6&>,&)?(E%BG?&>,&Q(?H$55$?:%$5&>?&
'%*$5;R($? & >% & />=F%BG? & 4W5$F% & F?E & ? & ?AX,;$#? & >, & ,N96$F$;%( & ?5 & ,EA%;,5&
,:;(, & %5 & 9(?9?5;%5 & >? & E?#$E,:;? & >, & ,>=F%>?(,5 & , & %5 & 9?6";$F%5&
>,5,:#?6#$>%5&9,6?&'$:$5;R($?&>%&/>=F%BG?&9%(%&%&H?(E%BG?&>,&9(?H,55?(,5L&
.;<;=>;?@AB;=C8& Q?6";$F%5 & >, & H?(E%BG?L & )?(E%BG? & >, & 9(?H,55?(,5L&
b,?9(%*E%;$5E?L&
*$E%55?:U=?6LF?ELA(
*':"#)5-'&*'7-!%*45-'6&626*0'(-#'23!#-#'("''."(*:-:6*
'%($%&8AW>$%&>%&K$6#%&.1:$#,(5$>%>,&>,&4(%5$6$%&-&1:43&4(%5$67
_ & 9(,5,:;, & %(;$*? & A=5F% & 9(?A6,E%;$J%( & % & H?(E%BG? & >? & 9,>%*?*? & 9%(%&
,N,(F,( & H=:BC,5 & & :% & *,5;G? & ,5F?6%( & , & >, & 5$5;,E%5 & >, & ,:5$:? & F?:H?(E,&
9(,5F($;? & :%5 &[$(,;($J,5 &V=(($F=6%(,5 &:%F$?:%$5 & >? &F=(5? &>, & 9,>%*?*$% & ,E&
>,F?((O:F$%& &>%&Z,5?6=BG?&Vb/<VQ&:LmL&>,&ijjkL&e:>%*%<5,c&F?E?&?F?((,&%&
H?(E%BG?&$:$F$%6&>?&*,5;?(&:?&F=(5?&>,& &Q,>%*?*$%f& &w=,&,6,E,:;?5&H%J,E&
9%(;,&>,55%&H?(E%BG?f&V?E?&,&,E&@=,&,59%B?5&?=&%;$#$>%>,5&%F%>OE$F%5&
?5&,6,E,:;?5&F?:5;$;=$:;,5&>%&*,5;G?&,5F?6%(&,&>,&5$5;,E%5&>,&,:5$:?&&,5;G?&
9(,5,:;,5&:%&H?(E%BG?f&&Q%(;$:>?<5,&>,5;%5&@=,5;C,5&A=5F%<5,&(,H6,;$(&5?A(,&
?5 & 6$E$;,5 & >,55% & H?(E%BG?3 & 9?$5 & ? & F=(5? & >, & *(%>=%BG? & ,E & 9,>%*?*$% & %?&
%55=E$(&;%6&$:F=EAO:F$%&>$6=$=&%&5=%&$>,:;$>%>,3&%6RE&>,&@=,&9?=F?&5,&H,J&
:? & 5,:;$>? & >, & %;,:>,( & ?5 & %(;$*?5 & 9(,5F($;?53 & ? & @=, & (,#,6% & =E% & >$5;]:F$%&
,:;(,&?5&>,5,X?5&9(?F6%E%>?5&,&%5&F?:>$BC,5&(,%$5& &>,&H?(E%BG?&$:$F$%6&>?&
9,>%*?*?&:%5&$:5;$;=$BC,5&9MA6$F%5L
.;<;=>;?'fAB;=C8 '2,5;G?&>,&5$5;,E%3&H?(E%BG?&>?&9,>%*?*?L&Q?6";$F%5&>,&
H?(E%BG?
%A%>$%U=:ALA(
*.!"&(6"&(-'2-&'0*'*b3(*'("0'-)!-8'2-0":6*06(*('"&'0-#'
.!-2"#-#'("'7-!%*26F&'(-2"&)"
\,55$F%&Z%Y%5&Q($:F,&.1Qb3&'RN$F?7&
!=J&\$ER:,J&!?J%:?&.1Qb3&'RN$F?7&
!?5&9(?F,5?5&>,&H?(E%F$P:&,:&6?5&@=,&9%(;$F$9%:&6?5&9(?H,5?(,5&>,&/>=F%F$P:&
Q($E%($%3&D%:&5$>?&=:%&>,&6%5&9($:F$9%6,5&,5;(%;,*$%5&9%(%&9(?9$F$%(&6%&E,X?(%&
F?:;$:=%&>,&6%&,>=F%F$P:&Y&9%(%&9(?E?#,(&6%5&9(,5F($9F$?:,5&>,&6%5&9?6";$F%5&
,>=F%;$#%5&E,>$%:;,&&>$#,(5%5&9(?9=,5;%5&>,&H?(E%F$P:T&5$:&,EA%(*?&R5;%5&
9(,5,:;%:&>$H$F=6;%>,5&,:&(,6%F$P:&F?:&6%5&:,F,5$>%>,5&>,&H?(E%F$P:&>,&6?5&
9(?H,5?(,5 & ,: & & 5=5 & F?:;,N;?5 & 9%(;$F=6%(,5 & Y & 6?5 & (,;?5 & @=, & & E=,5;(% & 6%&
,>=F%F$P:&F?:;,E9?(W:,%L
/: & ,5;?5 & ,59%F$?53 & 6?5 & 9(?H,5?(,5 & ,:F=,:;(%: & %>,EW5 & >,6 & >,5%((?66? & >,&
F%9%F$>%>,5 & 9%(% & E,X?(%( & & 5=5 & 9(WF;$F%53 & ?9?(;=:$>%>,5 & >, & F?E9%(;$(&
,N9,($,:F$%5 & Y & %9(,:>,( & F?: & 5=5 & 9%(,53 & F?:5;(=Y,:>? & =:% & F?6,*$%6$>%>&
%=;R:;$F%&@=,&F?:5;(=Y,:&>,5>,&5=5&5,:;$>?5&Y&5$*:$H$F%>?5
K, & 9(,5,:;%: & %6*=:%5 & (,H6,N$?:,5 & >,59(,:>$>%5 & >, & 6?5 & (,5=6;%>?5 & >, & =:%&
$:#,5;$*%F$P: & ,;:?*(WH$F% & (,%6$J%>% & ,: & =: & 9(?*(%E% & >, & H?(E%F$P:&
9,(E%:,:;,&,:&=:%&$:5;$;=F$P:&H?(E%>?(%&>,&>?F,:;,5&=A$F%>%&%6&:?(;,&>,&
6%&(,9MA6$F%&E,N$F%:%&,:&6%&F$=>%>&>,&S?((,P:&V?%D=$6%T&5,&%A?(>%&&6?&@=,&
5=F,>,&,:&,5;,&9(?*(%E%&,:&6%&$:;,(%FF$P:&,:;(,&9(?H,5?(,5&>,5>,&6%&@=,&
*,:,(%:&F?6,F;$#?53&6?5&F=%6,5&(,H$,(,:&=:%&(,%6$>%>&5?F$%6&Y&=:%&F=6;=(%&>,&
6% & H?(E%F$P: & F?:5;(=$>% & ,: & ,6 & F(=F, & >, & 5=5 & $:;,(5=AX,;$#$>%>,5 & Y & 6%5&
9(%F;$F%5 & $:5;$;=F$?:%6,5 & % & ;(%#R5 & >, & 6%5 & @=, & 9(?>=F,: & 5= & >,5%((?66?&
%F%>RE$F?&Y&9,(5?:%6L
.;<;D>;? ' A<;=C8& )?(E%F$P: & >?F,:;,3 & />=F%F$P: & Q($E%($%3 & Q?6";$F%5&
,>=F%;$#%5
X,5{%(?6%UD?;E%$6LF?E
6=JX$E,:,JzioUD?;E%$6LF?E
6&G"#)6:*26F&'26"&)6762*'b')*!"*'(-2"&)"'
),6$9,&8*=$((,&VDW#,J&&.e[/VZ/80/Q2&1V+3&+,:,J=,6%7&
/: & =: & F?:;,N;? & >, & >,5$:;,(R5 & 9?( & 6% & F$,:F$% & Y & 6% & $:#,5;$*%F$P: & F$,:;"H$F% & ,6&
E%,5;(? & >, & F%(% & % & 6%5 & :,F,5$>%>,5 & Y & %59$(%F$?:,5 & >, & 6%5 & *(%:>,5 & E%Y?("%5&
:%F$?:%6,53 & F?: & D=E$6>%> & Y & ,:?(E, & F?E9(?E$5? & 9?( & 6% & ;(%:5H?(E%F$P: & Y & ,6&
>,5%((?66? & 5?A,(%:? & >,6 & 9%"5 & ;$,:, & (,59?:5%A$6$>%> & >, & >,5%((?66%( & ;%(,%5&
,5,:F$%6,53&;%6,5&F?E?c&%5=E$(&,6&9(?F,5?&,>=F%;$#?&Y&>$>WF;$F?&F?E?&#%($%A6,5&Y&
D,FD?5 & D$5;P($F?<5?F$%6,53 & ,6 & F?E9(?E$5? & >, & F?:5;(=$( & =:% & ;,?("% & ,>=F%;$#%&
*,:=$:% & 5$: & F%6F? & :$ & F?9$%3 & %>5F($A$(5, & %6 & F%(WF;,( & F$,:;"H$F? & >, & 6% & 9,>%*?*"%3&
9(,9%(%(&&F6%5,5&F$,:;"H$F%5&>,&%6;%&F%6$>%>&Y&?($,:;%(&6%&,:5,l%:J%&Y&%9(,:>$J%X,&
D%F$%&6%&;(%:5H?(E%F$P:&Y&,6&F%EA$?&5?F$%6L&&
.;<;D>;? ' A<;=C?c & V?:;,N;? & D$5;P($F?<5?F$%63 & $:#,5;$*%F$P: & F$,:;"H$F%3 & ;%(,%5&
>?F,:;,L&
H,6$9,m9,UY%D??L,5
","'^
*'*G*06*45-'"(32*26F&*0'"%'%6&*#':"!*6#'"'-#'.!-7"##-!"#8'
-'L3"'%3(-3'&"##"#'("E'*&-#Q
8:%&'%($%&86#,5&K%(%$#%&.2/KSZ8[_01)'23&4(%5$67
_ & ?AX,;$#? & >,5;, & ;(%A%6D? & H?$ & $:#,5;$*%( & %5 & (,6%BC,5 & @=, & 5, & ,5;%A,6,F,E&
,:;(,&?5&9(?F,55?5&>,&%#%6$%BG?&/>=F%F$P:%6&,E&6%(*%&,5F%6%&,&?&;(%A%6D?&
>?F,:;,L
8&9(?A6,E%;$J%BG? &5, &>W&,E&;?(:% &>?5&>$H,(,:;,5&9%9R$5&>,5,E9,:D%>?5&
9,6?5 & 9(?H,55?(,5 & %? & 6?:*? & >? & 9(?F,55? & >, & $E96,E,:;%BG? & >? & K$5;,E%&
'$:,$(?&>,&8#%6$%BG? &>%&/>=F%BG? &QMA6$F%&, &?5&(,H6,N?5&:%&=;$6$J%BG? &>%5&
$:H?(E%BC,5&>,&>,5,E9,:D?&>?5&%6=:?5&,&,5F?6%5&9(?>=J$>%5L
Q?(&E,$?&>,&,:;(,#$5;%5&F?E&9(?H,55?(%5&>%&(,>,&,5;%>=%6&>,&'$:%5&2,(%$5&,&
%:W6$5,&D$5;P($F% &>%&E%;,($%6$J%BG? &>?&5$5;,E%&%#%6$%;$#?&A=5F?=<5,&;(%B%(&
=E & 9,(H$6 & >? & 9%9,6 & >,5,E9,:D%>? & 9,6%5 & 9(?H,55?(%5 & ,E & >$H,(,:;,5&
E?E,:;?5&>?&Ke'8+/L
_ & 9($:F$9%6 & (,H6,N? & :? & ;(%A%6D? & >?F,:;, & H?$ & 9,(F,A$>? & :% & E=>%:B% & >?5&
9(?F,55?5&%#%6$%;$#?5&,E&5%6%&>,&%=6%&@=,&9%55%(%E&%&5,*=$(&?&E?>,6?&>%5&
9(?#%5&?H$F$%$5L
8?& H$:%6 &F?:F6=$<5, & @=, &>=(%:;, & =E%& >RF%>% & >, & %#%6$%BG? & $:5;$;=F$?:%6 & ?5&
9(?H,55?(,5&#$#,:F$%(%E&>,5>,&%&,NF6=5G?&>?&9(?F,55?&%;R&%&$:;,:5$H$F%BG?&
>?&5,=&;(%A%6D?&9?(&E,$?&>%&$:F6=5G?&H?(B%>%L
.;<;=>;?@AB;=C8&Ke'8+/3&8#%6$%BG?&/>=F%F$P:%63&;(%A%6D?&>?F,:;,L
%:%5%(%$#%U=%$LF?ELA(
M*'2*(*'3%'#":3&(-'#"3'("#"%."&1-N8')"&#9"#'"'
2-&)!*(649"#'(*'.-0O)62*'("'*G*06*45-'(-2"&)"
/:,$>%&_;?&KD$(?E%&.1)KV3&4(%5$67
'%(%&V($5;$:%&KFD:,$>,(&.1)KV3&4(%5$67
8:;?:$?&V,65?&'%H(%&\M:$?(&.1[/KV3&4(%5$67
/5;, & ;(%A%6D? & 9(,;,:>, & %A?(>%( & % & >$E,:5G? & 9?6";$F% & >% & %#%6$%BG? & >,&
>,5,E9,:D?&>?F,:;,&.8[[73&>$5F=;$:>?&%5&$E96$F%BC,5&5?A(,&?5&9(?H,55?(,5&
, & ? & 5$:>$F%6$5E? & >?F,:;,L & [,5,:#?6#,E?5 & =E% & 9,5@=$5% & >?F=E,:;%6 & ,&
A$A6$?*(WH$F%3 & #$5%:>? & F?:D,F,( & %5 & (,5$5;O:F$%53 & ;,:5C,5 & , & F?:;(%>$BC,5&
%F,(F%&>,55%&;,EW;$F%&:%&8ER($F%&!%;$:%L&S(%A%6D%E?5&F?E&%&D$9P;,5,&>,&
@=, & % & 9?6";$F% & >, & 8[[ & R & E%$5 & =E & E,F%:$5E? & >, & (,*=6%BG? & 9%=;%>? & :%&
E,($;?F(%F$%3&F?E9,;$BG?&,:;(,&9%(,53&(,59?:5%A$6$J%BG?&9,6?5&(,5=6;%>?5&,&
:% & H6,N$A$6$J%BG? & 5%6%($%6 & - & ;"9$F% & >? & 5,;?( & 9($#%>?3 & 9?(RE & F%>% & #,J & E%$5&
9(,5,:;,&:%&,>=F%BG?&9MA6$F%L&/5;,&F?:X=:;?&>,&E,>$>%5&,5;%($%&*,5;%:>?&?&
`9(?H,55?(&>,&(,5=6;%>?5aL&V?:;=>?3&,EA?(%&%E96%E,:;,&(,F?E,:>%>%3&?5&
9(P9($?5 & (,H?(E%>?(,5 & :G? & ;OE & F6%(,J% & 5?A(, & F?E? & H%J,( & 9%(% & @=, & %&
%#%6$%BG? & >?F,:;, & 5, & F?:#,(;% & ,E & E,6D?($%5 & ^ & @=%6$>%>, & >% & ,>=F%BG?3&
;%E9?=F?&,5F6%(,F,E&9?(&@=,&,6%&H?$&%&9?6";$F%&9($?($J%>%&,E&>,;($E,:;?&>%&
H?(E%BG?&,&>%&#%6?($J%BG?&>?&E%*$5;R($?L&
.;<;=>;?@AB;=C8&%#%6$%BG?&>,&>,5,E9,:D?3&F%((,$(%&>?F,:;,3&5$:>$F%6$5E?&
>?F,:;,L&
,:,$>%UF,>L=H5FLA(
E%(%,H(%UY%D??LF?ELA(
%:;?:$?F,65??U*E%$6LF?E
*#'.-0O)62*#'("'*G*06*45-'(-2"&)"8'&-G-'2"&I!6-'.*!*'-'
)!*+*01-'(-2"&)"Q
e#?:,&Z$A,(%&8EA(P5$?&.1)\)3&4(%5$67'
_&9(,5,:;,&;,N;?&%A?(>%&?&;,E%&>%&%#%6$%BG?&>?F,:;,&@=,&;,E&,E,(*$>?&
:%5 & 9?6";$F%5 & 9MA6$F%5 & />=F%F$P:%$5 & % & 9%(;$( & >% & >RF%>% & >, & tj3&
,59,F$H$F%E,:;,&:?&/5;%>?&>,&'$:%5&2,(%$5&%;(%#R5&>%&K,F(,;%($%&>,&/5;%>?&
>,&/>=F%BG?L&Q%(%&;%:;?3&9,5@=$5%E?5&%&(,H?(E%&/>=F%F$P:%6&,E&'$:%5&@=,&
;,#,&?&9(?9P5$;?&>,&*%(%:;$(&:G?&5P&%&?H,(;%&>,&=E%&,>=F%BG?&AW5$F%&9%(%&
;?>?53 & E%5 & ;%EARE3 & @=, & % & E,5E% & H?55, & >, & @=%6$>%>, & %;,:>,:>? & ^5&
,N$*O:F$%5 & @=, & H?(%E & $E9?5;%5 & 9,6% & (,,5;(=;=(%BG? & >? & F%9$;%6L & b,55%&
9,(59,F;$#%3 & ;?>? & ? & 5$5;,E% & />=F%F$P:%6 & E$:,$(? & 9%55?= & 9?( & 9(?H=:>%5&
;(%:5H?(E%BC,5 & , & =E% & >%5 & E=>%:B%5 & 5$*:$H$F%;$#%5 & H?$ & % & $E96%:;%BG? & >%&
%#%6$%BG?&>?5&>?F,:;,5L&_&,5;=>?&A=5F?=&(,6%F$?:%(&%&F=6;=(%&?(*%:$J%F$?:%6&
>% & ,5F?6% & F?E & ? & 9(?F,55? & >% & %#%6$%BG? & , & 5=% & (,9,(F=55G? & :? & ;(%A%6D?&
>?F,:;, & F?E & ? & 9(?9P5$;? & >, & ,:;,:>,( & F?E? & % & E,5E% & 5, & $:;(?>=J & :%&
$:5;$;=$BG? & >, & ,:5$:? & :=E & F?:;,N;? & >, & (,H?(E%53 & F?E & ? & ?AX,;$#? & >,&
9(?9?(F$?:%( & %?5 & >?F,:;,5 & E=>%:B%5 & ;%:;? & F?E9?(;%E,:;%$5 & @=%:;?&
F?:F,$;=%$5L&
.;<;=>;?@AB;=C8&
_(*%:$J%F$?:%6
8#%6$%BG? & [?F,:;,T & Q?6";$F%5 & QMA6$F%5T & V=6;=(%&
($A,(%U%F,55%LF?E
*#'.-06)62*#'("'*G*06*45-'2-%-'"#)!*)_:6*#'("'!":30*45-'
(-')!*+*01-'(-2"&)"
!,?:$F,&'%;$6>,&Z$FD;,(&&.1:$#,(5$>%>,&),>,(%6&>,&1A,(6]:>$%<&)8VeQ3&4(%5$67
!=F$%&>,&)%;$E%&+%6,:;,&.1:$#,(5$>%>,&),>,(%6&>,&1A,(6]:>$%<&)8VeQ3&4(%5$67
_ & 9(,5,:;, & ,5;=>? & A=5F% & %:%6$5%( & %5 & F?:F,9BC,53 & %5 & E?>%6$>%>,5 & , & ?5&
9(?9P5$;?5 & >% & %#%6$%BG? & 5$5;OE$F% & :? & 4(%5$6L & Q%(% & ;%:;?3 & F,:;(%E?5 & %&
%;,:BG?&:%&;,$%&>?5&E%(F?5&(,*=6%;P($?5&@=,&,:#?6#,E&%&,>=F%BG?&AW5$F%3&
,59,F$%6E,:;, & %5 & 9?6";$F%5 & , & 9(W;$F%5 & >, & %#%6$%BG? & >% & ,>=F%BG? & AW5$F%L&
S(%;%<5, & >, & =E% & 9,5@=$5% & A$A6$?*(WH$F% & , & >, & %:W6$5, & >?F=E,:;%6 & >%5&
>$(,;($J,5&,E%:%>%5&>?&'$:$5;R($?&>%&/>=F%BG?&.'/V7L&V?:5;%;%E?5&@=,&;%$5&
E,F%:$5E?5 & F?:5;$;=,E<5, & ,E & ,5;(%;R*$%5 & >, & (,*=6%BG? & >? & ;(%A%6D?&
>?F,:;,L&
.;<;=>;?@AB;=C8&8#%6$%BG?T&Z,*=6%BG?T&S(%A%6D?&[?F,:;,
(6,?:$F,U9?:;%6L=H=LA(
<iAj;xSTXY;<KiUiKD>
*G*06*45-8'-'!"76&*%"&)-'(*#'7-!%*#'("'2-&)!-0"'(-'
)!*+*01-'(-2"&)"
€%6{$($%&Z$*?6?:
_&;(%A%6D?&>?F,:;,&;,E&5?H($>?&;(%:5H?(E%BC,5&:G?&5?E,:;,&:?&@=,&;%:*,&
^5&E=>%:B%5&>,F?((,:;,5&>?&>,5,:#?6#$E,:;?&;,F:?6P*$F?&,&F$,:;"H$F?3&E%5&
;%EARE & :? & @=, & >$J & (,59,$;? & ^ & :?#% & ?(*%:$J%BG?L & b% & %;=%6$>%>, & %5&
%6;,(%BC,5&:%5&%;$#$>%>,5&F?;$>$%:%5&@=,&,:#?6#,E&?&,N,(F"F$?&>%&9(?H$55G?&
,E&>$H,(,:;,5&*(%=5&>,&F?E96,N$>%>,3&:G?&5,&F$(F=:5F(,#,E&;G?&5?E,:;,&
%? & %;? & >, & E$:$5;(%( & %=6%53 & E%5 & %9?(;%:>?3 & 5?A(,;=>?3 & =E & *(%= & >,&
9?6$#%6O:F$%&%?&;(%A%6D?&>?F,:;,L&b,5;,&5,:;$>?3&,5;,&%(;$*?&#$5%&,N96$F$;%(&
%5&;(%:5H?(E%BC,5&?F?(($>%5&:?&;(%A%6D?&>,&9(?H,55?(,5&,&9(?H,55?(%5&>?5&
%:?5 & $:$F$%$53 & #$:F=6%>?5 & ^5 & (,H?(E%5 & />=F%F$P:%$5 & ;,:>? & F?E? & H?F? & ?5&
9(?F,55?5&>,&%#%6$%BG?&,&>$#=6*%BG?&>?5&(,5=6;%>?5&?A;$>?5&9,6%5&=:$>%>,5&
>,&,:5$:?L&8&D$9P;,5,&:?(;,%>?(%&>,5;,&,5;=>?&(,H,(,<5,&%?&F(,5F$E,:;?&,&
%?&%9($E?(%E,:;?&>?5&5$5;,E%5&>,&%#%6$%BG?&,E&6%(*%&,5F%6%3&F?E?&=E&>?5&
,H,$;?5&>%&6P*$F%&F?E9,;$;$#%&%55?F$%>%&^&F=6;=(%&>,&>,5,E9,:D?L
.;<;=>;?@AB;=C8&S(%A%6D?&>?F,:;,T&Q?6";$F%&/>=F%F$P:%6T&8#%6$%BG?L
|%6{$($%L($*?6?:U=?6LF?ELA(
2"!)6762*45-'-23.*26-&*08'6%.062*49"#'#-+!"'-'.!-7"##-!J'
*'2*)":-!6*'"'*'2*!!"6!*'(-2"&)"
'%(%&V($5;$:%&KFD:,$>,(&.1)KV3&4(%5$67
/:,$>%&_;?&KD$(?E%&.1)KV3&4(%5$67&
b,5;, & ;(%A%6D? & >$5F=;$E?5 & % & 9?6";$F% & >, & F,(;$H$F%BG? & ?F=9%F$?:%6 & , & 5=%5&
$E96$F%BC,5 & 5?A(, & ? & 9(?H,55?(3 & % & F%;,*?($% & , & % & F%((,$(% & >?F,:;,L & 8&
F,(;$H$F%BG? & >?F,:;, & R & (,F?E,:>%>% & 9,6? & 4%:F? & '=:>$%6 & F?E? & =E & E,$?&
,H$F%J&9%(%&9(?E?#,(&(,H?(E%5&:%&,>=F%BG?L&85&%(;$F=6%BC,5&>,&_(*%:$5E?5&
'=6;$6%;,(%$53&*?#,(:?5&,&5,;?(&9($#%>?&,E&;?(:?&>%&9?6";$F%&>,&F,(;$H$F%BG?&
>,&9(?H,55?(,5&:?&4(%5$6&:?5&>,5%H$%E&%&,N96$F%(&%&6P*$F%&:?(;,%>?(%&>,55%&
9?6";$F%L & V?E & ,5;, & $:;=$;?3 & A=5F%E?5 & 9(?A6,E%;$JW<6% & >, & E?>? & % & ;?(:%(&
,N96"F$;%5&%5&5=%5&F?:;(%>$BC,5&,&?5&$:;,(,55,5&@=,&%&5=AX%J,EL&1;$6$J%:>?&?&
E%;,($%6$5E? & D$5;P($F? & F?E? & (,H,(,:F$%6 & ;,P($F?<E,;?>?6P*$F?3&
>,5,:#?6#,E?5 & =E& ,5;=>? & >, &F%5? & ,E& K%6#%>?( &.4(%5$673 & ?:>, &F?6,;%E?5&
>?F=E,:;?5&,&>,9?$E,:;?5&%F,(F%&>%5&$E96$F%BC,5&>,55%&9?6";$F%&5?A(,&?&
9(?H,55?(3 & % & F%;,*?($% & , & % & F%((,$(% & >?F,:;,L & _5 & (,5=6;%>?5 & >,5;, & ,5;=>?&
E?5;(%E & @=,3 & 9?( & =E & 6%>?3 & % & $E96,E,:;%BG? & >% & 9?6";$F% & >, & F,(;$H$F%BG?&
?F=9%F$?:%6 & :? & /5;%>? & >% & 4%D$% & 9(?#?F?= & $:5,*=(%:B%3 & 5,:;$E,:;? & >,&
$:F?E9,;O:F$%&,&F?E9,;$BG?&,:;(,&?5&9(?H,55?(,53&E%5&F?:;(%>$;?($%E,:;,3&
%&9,(F,9BG?&>,&5,=5&9(?9P5$;?5&,&,H,$;?5&5?A(,&%&F%;,*?($%&(,%F,:>,=&%5&
E?A$6$J%BC,5&>,&9(?H,55?(,5L
.;<;=>;?@AB;=Cc & Q?6";$F% & >, & V,(;$H$F%BG? & _F=9%F$?:%6T & Q(?H,55?(T & V%((,$(%&
[?F,:;,
E%(%,H(%UY%D??LF?ELA(
,:,$>%UF,>L=H5FLA(
"0')!*+*,-'("'"G*03*!'"&'0*'"(32*26F&'#"23&(*!6*'
-+06:*)-!6*'"&'0*'*!:"&)6&*
Z%M6&8L&',:*D$:$&.1bK3&8(*,:;$:%7&
V?:&6%&!,Y&),>,(%6&>,&/>=F%F$P:&,:&mtth&Y&5=&$:5$5;,:F$%&,:&6%&F=,5;$P:&>,&
6%&F%6$>%>&>,&6%&,>=F%F$P:&-,:&5$:;?:"%&F?:&6%&;,:>,:F$%&$:;,(:%F$?:%6&Y&6%&
9(R>$F% & >, & 6?5 & ?(*%:$5E?5 & >, & F(R>$;?<3 & F?E,:J%(?: & % & ;?E%( & H=,(J% & 6?5&
?9,(%;$#?5&>,&,#%6=%F$P:&>,&>$FD%&F%6$>%>&Y&,5;?&$:F$>$P3&>,&%&6*=:%&E%:,(%3&
,:&,6&5,:;$>?&@=,&H=,&;?E%:>?&6%&,#%6=%F$P:&>,&6?5&%9(,:>$J%X,5&9?(&9%(;,&
>,&6?5&>?F,:;,5&Y&>,&6%5&$:5;$;=F$?:,5L&8&5=&#,J3&6%&?A6$*%;?($,>%>&>,6&;,(F,(&
F$F6? & >, & 6% & ,:;?:F,5 & /24 & .D?Y & F$F6? & AW5$F? & >, & 6% & ,>=F%F$P: & 5,F=:>%($%73&
%*(,*P & F?E96,X$>%> & %6 & ;,E% & ;?>% & #,J & @=, & 5, & F?:5$>,(P & 6% & :,F,5$>%> & >,&
(,5*=%(>%(&,6&>,(,FD?&>,&6?5&%6=E:?5&%&F?:F6=$(&,5,&F$F6?&Y3&9?(&6?&;%:;?3&6%&
,#%6=%F$P:&:?&9?>"%&5,(&=:&$E9,>$E,:;?&9%(%&,66?L&V?:&,5;?5&%:;,F,>,:;,5&
>,&6%&>RF%>%&>,&6?5&Œtj&Y&@=,&F?:;$:M%:&#$*,:;,53&D?Y&6%&9(?A6,EW;$F%&5,&
,N;$,:>, & % & 6% & ,>=F%F$P: & 5,F=:>%($% & ,: & 5= & F?:X=:;?3 & %6 & 6,*$56%(5, & 5=&
?A6$*%;?($,>%>&,:&6%&:=,#%&!,Y&>,&/>=F%F$P:&b%F$?:%6&ikLijk0jk&.!/b7L&/:&
H=:F$P:&>,&,66?3&,5;,&;(%A%X?&9(,;,:>,&%:%6$J%(&6%5&(,*=6%F$?:,5&9(?9$%5&>,&6%&
,>=F%F$P:&5,F=:>%($%&?A6$*%;?($%&Y&,6&9%9,6&>,&6%&,#%6=%F$P:&Y&6?5&>?F,:;,5&
,: & ,66%3 & % & H$: & >, & 9(?A6,E%;$J%( & 6% & (,59?:5%A$6$>%> & 9(?H,5$?:%6 & ? & A$,:&
$:5;$;=F$?:%6&,:&,5;%&;,EW;$F%L
.;<;D>;?@A<;=C8&/#%6=%F$P:&>,&6%&,:5,l%:J%3&(,*=6%F$?:,5&>,&6%&,>=F%F$P:3&
,>=F%F$P:&5,F=:>%($%
E,:*D$:$U=:5L,>=L%(
-'23!#-'("'."(*:-:6*8'.-##6+606(*("#'("'&-G*#'.!*)62*#'
*G*06*)6G*#
Q%;("F$%&!L&+?5*(%=&>,&)(,$;%5&.1)QZ3&4(%5$67
/5;,&;(%A%6D?&?AX,;$#?=&(,6%;%(&,&(,H6,;$(&5?A(,&%&9(W;$F%&%#%6$%;$#%&>?&V=(5?&
>,&Q,>%*?*$%&>,&=E%&e:5;$;=$BG?&>,&/>=F%BG?&K=9,($?(&9($#%>%&&L&_&,5;=>?&
9?55$A$6$;?=&%:%6$5%(&%5&(,59?5;%5&%?5&@=,5;$?:W($?5&%96$F%>?5&?5&%F%>OE$F?5&
>,55, & F=(5?3 & ?9?(;=:$J%:>? & %?5 & 9(?H,55?(,5 & H?(E%>?(,5 & & =E & (,9,:5%( & >,&
5=%&9(%;$F%&>?F,:;,3&%?&E,5E?&;,E9?&@=,&9,(E$;,&%?&%F%>,E$F?&%&#$#,:F$%&
>,&=E&?=;(?&9%(%>$*E%&%#%6$%;$#?L&_5&(,5=6;%>?5&%9(,5,:;%(%E&=E&F?:X=:;?&
>, & $:H?(E%BC,5 & A%5;%:;, & (,6,#%:;,3 & ;%:;? & >? & 9?:;? & >, & #$5;% & >% & (,H6,NG?&
;,P($F%&@=%:;?&>%&9(W;$F%&,>=F%;$#%3&?5&@=%$5&5,&;?(E%(%E&$:>$F%>?(,5&9%(%&
%&F?:F(,;$J%BG?&>,&E=>%:B%5L&S%$5&(,5=6;%>?53&6?:*,&>,&5,(,E&F?:F6=5$#?53&
%E96$%E3 & :? & ,:;%:;? & :?55% & F?E9(,,:5G? & % & (,59,$;? & >% & #$5G? & 5?A(, & %%&
9(%;$F%5&%#%6$%;$#%5&@=,&F?:5;$;=,E&?&V=(5?&>,&Q,>%*?*$%L
.;<;=>;?@AB;=C8 'Q(W;$F%5 & 8#%6$%;$#%53 & )?(E%BG? & >, & [?F,:;,53 & Q(?H,55?(&
1:$#,(5$;W($?L
9*9%;($F$%U=?6LF?ELA(
-'#6#)"%*'&*26-&*0'("'*G*06*45-8'"#)3(*&(-'-#'.!-:!*%*#'
("'L3*06(*("'(*'"#2-0*
\%:,&89%(,F$>%&2?:B%6#,5&>,&K?=J%&.1)\)3&4(%5$67
_ & 5$5;,E% & :%F$?:%6 & >, & %#%6$%BG? & :? & 4(%5$6 & R & A%5;%:;, & (,F,:;, & )?$ & ,E&
E,%>?5&>%&>RF%>%&>,&mtvj&@=,&?&*?#,(:?&F?E,B?=&%&>$5F=;$(&9(?*(%E%5&>,&
$E96%:;%BG? & >? & 5$5;,E% & >, & %#%6$%BG?3 & :=E% & R9?F% & ,E & @=, & 5, & >,A%;$% & ?&
9(?F,55? & >, & >,E?F(%;$J%BG? & >? & Q%"5L & 85 & @=,5;C,5 & @=, & :%@=,6, & E?E,:;?&
,(%E&H?F%6$J%>%5&>$J$%E&(,59,$;?&%?&%F,55?&^&,5F?6%&,&%&@=%6$>%>,&>?&,:5$:?&
?H,(,F$>% & 9,6?5 & >$H,(,:;,5 & 5$5;,E%53 & ;%:;? & :% & ,5H,(% & 9MA6$F% & @=%:;? & :%&
9($#%>%L & _ & ;(%A%6D? & @=, & 9(,;,:>? & ,N9?( & %@=$3 & H%J & F?:5$>,(%BC,5 & 5?A(, & %&
$E96,E,:;%BG?&>?5&9(?*(%E%5&>,&@=%6$>%>,&>%&,5F?6%&:?5&,5;%>?5&>?&Z$?&
>,&\%:,$(?3&KG?&Q%=6?&,&4(%5$63&;,:>?&F?E?&(,H,(O:F$%&?5&9(?*(%E%5&b?#%&
/5F?6%3&e[/KQ&,&e[/4L
.;<;=>;?@AB;=C8 'K$5;,E% & b%F$?:%6 & >, & 8#%6$%BG?3 & @=%6$>%>, & >? & /:5$:?3&
Q(?*(%E%5&>,&%#%6$%BG?
X%:,L5?=J%U=HXHLA(
-#'(-2"&)"#'"'-'#6#)"%*'&*26-&*0'("'*G*06*45-'(*'
"(32*45-'#3."!6-!'f'#6&*"#8'*'*3)-@*G*06*45-'2-%-'
2-&(645-'"%*&26.*)F!6*
'%($%&e5%A,6&>%&V=:D%&.1:$#,(5$>%>,&>?&+%6,&>?&Z$?&>?5&K$:?5&-&1beKeb_K3&
4(%5$67
4,%;($J & '%($% & 4L & 8;($A & x%:FD,; & .1:$#,(5$>%>, & ),>,(%6 & >, & Q,6?;%5 & - & 1)Q,63&
4(%5$67
8&%;=%6&9(?9?5;%&%#%6$%;$#%&%&/>=F%BG?&K=9,($?(&:?&4(%5$6&9(?F=(?=&5=9,(%(&
?&$E9%55,&%:;,($?(E,:;,&$>,:;$H$F%>?3&@=,&(,>=J$%&%&F?E96,N$>%>,&>%&%BG?&
=:$#,(5$;W($% & % & =E &,;D?5& (,*=6%;P($? & ,N9(,55? & 9,6? & /N%E, & b%F$?:%6 & >,&
V=(5?5L &!,*$;$E%#%<5,&=E&$:5;(=E,:;?&>,&%#%6$%BG? &M:$F?&F?E? &F%9%J &>,&
>,H$:$(&@=%6$>%>,3&$:>,9,:>,:;, &>?&F?:;,N;? &F=6;=(%6&, &%F%>OE$F? &?:>, &%&
,>=F%BG?&5,&9(?>=J$%&?=&>,&=E%&,5F%6%&#%6?(%;$#%&>,&F($;R($?5&,&(,H,(O:F$%5&
F6%(%E,:;, &,N96$F$;%>%5L &_&*(%= &?A;$>?&,N9(,55%#% &=E%&,N;,($?($J%BG? &>,&
@=%6$>%>,3 & $:5,($:>?<5, & :% & ,5;(%;R*$% & >, & E%({,;$:* & >%5 & $:5;$;=$BC,5 & ,&
(,59?:>,:>? & % & F=6;=(% & >, & E,(F%>?L & w=%:>? & %;$:*$>?5 & 9,6? & E%=&
>,5,E9,:D? & >, & 5,=5 & V=(5?53 & %5 & e/K & ;,:>$%E & % & (,59?:5%A$6$J%( & ?5&
9(?H,55?(,5&9?(&:G?&,5;%(,E&%6F%:B%:>?&?5&9%;%E%(,5&>,5,X%>?5L&_&/5;%>?&
;(%:5H,($%&5=%5&(,59?:5%A$6$>%>,5&>,&9(?#,>?(&9%(%&%55=E$(&%&F?:>$BG?&>,&
%#%6$%>?(L & /E & ijjh & $:$F$?=<5, & =E & 9(?F,55? & >, & (,#$5G? & >%5 & 9?6";$F%5 & >,&
%#%6$%BG? & >% & ,>=F%BG? & 5=9,($?( & , & ? & '$:$5;R($? & >% & />=F%BG? & $:5;%6?= & =E%&
V?E$55G? & F=X? & ;(%A%6D? & (,5=6;?= & ,E & =E & >?F=E,:;? & ,:F%E$:D%>? & 9%(% & %&
F?E=:$>%>, & %F%>OE$F%L & V?E? & 5, & ;(%;%#% & >, & E%;R($% & 6,*$56%;$#%3 & ?&
V?:*(,55? & b%F$?:%6 &H?$ &,:#?6#$>? &:?5 &>,A%;,5 & ,& %& 9(?9?5;% & H?$ & %9(?#%>%L&
V?E&,55%&:?#%&F?:>$BG?3&,E&ijjg&$:%=*=(?=<5,&%&$E96%:;%BG?&>%&9(?9?5;%&
>, & %#%6$%BG? & >% & ,>=F%BG? & 5=9,($?( & :? & 4(%5$6 & >,:?E$:%>% & >, & K$5;,E%&
b%F$?:%6&>,&8#%6$%BG?&>%&/>=F%BG?&K=9,($?(&.Keb8/K7L
.;<;=>;?'AB;=C8'%#%6$%BG?T&,:5$:?&5=9,($?(3&%=;?<%#%6$%BG?&,E%:F$9%;P($%3&
Keb8/K&
-'6%.*2)-'(-#'!"#30)*(-#'(-'6("+'#-+!"'*'"#2-0*'.$+062*
K$6#%:%&',5@=$;%&.Q1V<Z$?3&4(%5$67
/5;, & ;(%A%6D? & H%J & 9%(;, & >% & 9,5@=$5% & >, & E,5;(%>? & 5?A(, & ?5 & `)%;?(,5&
$:;(%,5F?6%(,5&,&>,5,E9,:D?&,5F?6%(c&?&@=,&H%J&%&>$H,(,:B%faL&b,5;,&;,N;?&
5G? & %9(,5,:;%>?5 & ?5 & >%>?5 & F?6,;%>?5 & >=(%:;, & % & $:#,5;$*%• & fG? & @=,&
,#$>,:F$%E & ? & $E9%F;? & >% & >$#=6*%BG? & >?5 & (,5=6;%>?5 & >? & e>,A & .ijjs<ijjo7&
5?A(,&?&F?;$>$%:?&>,&=E%&,5F?6%&9MA6$F%&>?&Z$?&>,&\%:,$(?L&+$5%:>?&$:;,*(%(&
?5&>%>?5&@=%:;$;%;$#?53&;(%J$>?5&9,6%5&,5;%;"5;$F%5&>%5&%#%6$%BC,5&,N;,(:%53&
F?E & ?5 & >%>?5 & @=%6$;%;$#?5 & >? & F?;$>$%:? & >% & ,5F?6%3 & 5, & %>?;?= & F?E?&
E,;?>?6?*$%&%&%A?(>%*,E&,;:?*(WH$F%L&_&9,5@=$5%>?(&9,(E%:,F,=&$E,(5?&
:? & F%E9? & 9?( & 5,$5 & E,5,5 & (,=:$:>? & ?5 & >%>?5 & %;(%#R5 & >% & ?A5,(#%BG?&
9%(;$F$9%:;,3 & ,:;(,#$5;%5 & F?E & ?5 & *,5;?(,5 & , & 9(?H,55?(,53 & %6RE & >,&
%F?E9%:D%(&%5&%;$#$>%>,5&:%5&5%6%5&>,&%=6%5&,&%:%6$5%(&?5&>?F=E,:;?5&>%&
,5F?6%L & 8>?;?=<5, & F?E? & (,H,(,:F$%6 & ;,P($F? & ?5 & ,5;=>?5 & >% & 5?F$?6?*$% & >?5&
,5;%A,6,F$E,:;?5&,5F?6%(,53&%6RE&>%5&9,5@=$5%5&5?A(,&,5F?6%5&,H$F%J,5&:?&
4(%5$63 & /5;%>?5 & 1:$>?5 & , & e:*6%;,((%L & )?$ & 9?55"#,6 & $>,:;$H$F%( & @=, & ?5 & >%>?53&
6,#%:;%>?5 & 9,6%5 & 9,5@=$5%5 & >, & %#%6$%BG? & ,N;,(:%53 & 5G? & (,>$(,F$?:%>?5&
>,:;(? & >? & ,59%B? & ,5F?6%( & 9,6?5 & 5,=5 & %;?(,53 & E%5 & @=, & :G? & >,$N%E & >,&
F?:;($A=$( & F?E & ? & ,:;,:>$E,:;? & >? & 5$5;,E% & >, & ,:5 & $:?L & /#$>,:F$%<5, & @=,&
%9(?N$E%:>?&?5&>%>?5&@=%:;$;%;$#?5&F?E&?&9?:;?&>,&#$5;%&>?&:%;$#?3&9?>,<
5, & %9(,,:>,( & %5 & F?:;($A=$BC,5 & >,5;,5 & >?$5 & F%E9?5 & >, & $:#,5;$*%BG? & 9%(%&
(,H6,;$(&5?A(,&%&,5F?6%&,&%&A=5F%&9?(&E%$5&@=%6$>%>,L
.;<;=>;?@AB;=C8&Q?6";$F%5&>,&8#%6$%BG?3&V?;$>$%:?3&[,5,E9,:D?
5$6#%:%LE,5@=$;%U$*LF?ELA(
-#'(-2"&)"#J'-'#6&*"#'"'*'*3)-*G*06*45-'6&#)6)326-&*08'
7-!%*45-'"'!":30*45'%($%&8:*R6$F%&Z?>($*=,5&'%(;$:5&.1beK8bS_K3&4(%5$67&
_5&#":F=6?5&>?5&9(?H,55?(,5&F?E&%&,>=F%BG?&5=9,($?(3&%&D,*,E?:$%&>?&5,;?(&
9($#%>?&:,55,&:"#,6&,&?&K$:%,5&F?:5;$;=,E&?&9%:?&>,&H=:>?&?=&?&F,:W($?&%&
9%(;$(&>?&@=%6&>$5F=;,<5,&=E%&%6;,(:%;$#%&%?&H?(;%6,F$E,:;?&$:5;$;=F$?:%6&,&
>?5&>?F,:;,5&:%&F?:;(%EG?&>?&F,:W($?&,5A?B%>?L&_AX,;$#%<5,&F?:;($A=$(&
9%(%&F?:5?6$>%(&=E&9,(F=(5?&%6;,(:%;$#?3&9%55"#,6&>,&H?(;%6,F,(&%&e/K&,&5,=5&
9(?H,55?(,5&,E&A,:,H"F$?&>,&5$&E,5E?5&,&>?5&,5;=>%:;,5L&Q%(%&;%:;?3&
%:%6$5%<5,&$:$F$%;$#%&>,&%=;?%#%6$%BG?&$:5;$;=F$?:%6&@=,&F?6?F%&?5&9(?H,55?(,5&
F?E?&%#%6$%>?(,5&>?&F=(5?&,&>%&e/K&,E&@=,&%;=%EL&/E&]EA$;?&$:5;$;=F$?:%63&
F?E&%&%=;?%#%6$%BG?3&,N%E$:%<5,&%&9?55$A$6$>%>,&>,&5$*:$H$FW<6%&F?E?&=E&
6=*%(&>,&H?(E%BG?&,&>,&(,%6$J%(&=E&E?#$E,:;?&>,&F?:F$6$%BG?&,:;(,&
(,*=6%BG?&,N;,(:%&,&%=;?((,*=6%BG?L&
.;<;=>;?@AB;=Cc & [?FO:F$% & :% & />=F%BG? & K=9,($?( & < & 8=;?%#%6$%BG?&
$:5;$;=F$?:%6&-&Q?6";$F%&/>=F%F$P:%6&
E<%:*,6$F%U=:$5%:;?5LA(
.-0O)62*#'("'*G*06*45-8'&-G*#'!":30*49"#'"'-'
)!*+*01-'(-2"&)"
_6*%"5,5&'%=R5&.1)Q83&4(%5$67&
/5;, & ;(%A%6D?3 & (,5=6;%>? & >, & =E% & 9,5@=$5% & A$A6$?*(%H$% & 5?A(, & % & :?#%&
(,*=6%BG? & >% & 9?6";$F% & >, & %#%6$%BG? & />=F%F$P:%63 & ;,E & F?E? & ?AX,;$#?&
>,E?:5;(%(&?&9%9,6&%55=E$>?&D?X,&9?(&%6*=:5&?(*%:$5E?5&E=6;$6%;,(%$53&F?E&
>,5;%@=, & 9%(% & % & _V[/3 & ,E & (,6%BG? & ^ & ,>=F%BG? & F?E? & E,$? & 9%(% & ?&
>,5,:#?6#$E,:;? & ,F?:pE$F?L & & 8 & @=,5;G? & >% & %#%6$%BG?3 & F?E? & H,((%E,:;%&
9($#$6,*$%>%&9%(%&?&%FF?=:;%A$6$;Y3&5,(W&%A?(>%>%3&A=5F%:>?<5,&,#$>,:F$%(&?&
9%9,6 & @=, & ,55% & :?#% & (,*=6%BG? & >% & ,>=F%BG? & #,E & >,5,E9,:D%:>? & :?&
5,:;$>? & >% & F?:H?(E%BG? & >% & ,>=F%BG? & ^5 & ,N$*O:F$%5 & >? &F%9$;%6L & 8 & 9%(;$(&
>,55, & ,$N? & 5,(G? & %:%6$5%>%5 & %5 & H?(E%5 & @=, & 5G? & =;$6$J%>%5 & 9%(% & @=, & %&
,>=F%BG?&%;$:X%&?&FD%E%>?&9%>(G?&$:;,(:%F$?:%63&A=5F%:>?<5,&,N96$F$;%(&%&
F?E9(,,:5G?&>?&9%9,6&@=,&?&/5;%>?&9%55%&%55=E$(&,:@=%:;?&Z,*=6%>?(&,&
8#%6$%>?(L&
_&;,N;?&A=5F%&5$;=%(&%&,>=F%BG?&:,55,&`:?#?a&E?E,:;?&>%&H$:%:F,$($J%BG?&
, & %:%6$5% & % & =;$6$J%BG? & >, & =E% & `:?#% & 6":*=%a & , & ? & 9?>,( & >,5;% & 5?A(, & ?5&
*?#,(:?5L & 4=5F%<5, & ;%EARE & ,:;,:>,( & % & :?#% & (,*=6%BG? & .*,5;G?3&
H$:%:F$%E,:;?&,&%#%6$%BG?7&^&6=J&>,&=E%&%*,:>%&*6?A%6$J%>%L&8&@=,5;G?&>%&
%#%6$%BG? & F?E? & (,*=6%BG? & >% & 9?6";$F% & />=F%F$P:%6 & , & F?E? & F?:;(?6, & R&
,N%E$:%>%3 & 9(?F=(%:>?<5, & 9,:,;(%( & :,55% & :?#% & 6P*$F% & >%5 & %#%6$%BC,5&
,N;,(:%53 & 9%(% &,E&5,*=$>% &%:%6$5%( & F?E? &? &4(%5$6 &#,E& 6$>%:>?& F?E &,55%&
;,EW;$F%&#$%&Q[/&&,&%&F($%BG?&>,&=E&:?#?&":>$F,c&?&e[/4L
.;<;=>;?@AB;=C8& Z,*=6%BG? & />=F%F$P:%6T & 8#%6$%BG?T & S(%A%6D?&
[?F,:;,T
?6*%$5,5U=?6LF?ELA(
.-0O)62*#'("'*G*06*45-'.*!*'*'.F#@:!*(3*45-'"%'"(32*45-'
"'-#'6%.*2)-#'#-+!"'-')!*+*01-'(-2"&)"'&-'62"(V'37.*K
8:;?:$6>%&+%5F?:F,6?5&>,&4%((?5&.1)Q83&4(%5$67
_&?AX,;$#?&>?&9(,5,:;,&,5;=>?3&9%(;,&>?&S(%A%6D?&>,&V?:F6=5G?&>,&V=(5?3&H?$&
$:#,5;$*%(&@=%$5&%5&9($:F$9%$5&E=>%:B%5&?F?(($>%5&:?&;(%A%6D?&>?5&>?F,:;,5&
>?&Q(?*(%E%&>,&QP5<2(%>=%BG?&,E&/>=F%BG?&>?&eV/[01)Q83&,E&>,F?((O:F$%&
>%5&9?6";$F%5&>,&%#%6$%BG?&$E96,E,:;%>%5&:?5&9(?*(%E%5&>,&9P5<*(%>=%BG?&
A(%5$6,$(?5&9?(&$:;,(ER>$?&>%&V8Q/KL&8&E,;?>?6?*$%&=;$6$J%>%&H?$&>,&F%(W;,(&
@=%:;$<@=%6$;%;$#%3 & F?E & % & (,%6$J%BG? & >, & ,:;(,#$5;%5 & 5,E$<,5;(=;=(%>%53&
,5;=>? & A$A6$?*(WH$F? & , & >?F=E,:;%6 & >% & 6$;,(%;=(% & >% & W(,%3 & A,E & F?E? & >?5&
>?F=E,:;?5 & ?H$F$%$5 & @=, & ;(%;%E & 5?A(, & % & %#%6$%BG? & >% & ,>=F%BG? & 5=9,($?(L&
86*=:5&(,5=6;%>?5&%9(,5,:;%>?5&H?(%E&^&$E9?(;]:F$%&>%&%#%6$%BG?3&F?:;=>?&
@=,&,5;%&5,X%&>$%*:P5;$F%3&>,E?F(W;$F%&,&9%(;$F$9%;$#%&F?E9(,,:>,:>?&;?>?&
? & F?6,;$#? & %F%>OE$F?L & _=;(? & (,5=6;%>? & R & % & $:>$F%BG? & >, & @=, & ? & ;$9? & >,&
%#%6$%BG?&%>?;%>?&F?:;($A=$&9%(%&%=E,:;%(&%&%55$E,;($%&,:;(,&%5&(,*$C,5&,&
9(?*(%E%5&>,&9P5<*(%>=%BG?L&&
.;<;=>;?@2B;=Cc& 8#%6$%BG?3 & QP5<*(%>=%BG? & ,E & />=F%BG?3 & S(%A%6D?&
[?F,:;,L
%:;?:$6>%#%5F?:F,6?5UY%D??LF?ELA(
","'c
*'2-&#)6)3645-'("'3%*'!"("'("'6&G"#)6:*45-'#-+!"'
*##-26*49"#'"'#6&(62*)-#'("')!*+*01*(-!"#'"%'"(32*45'W(F$%&_:>$:%&+$,$(%&),((,$(%&.1)Q,63&4(%5$67
_& ;(%A%6D? &H=:>%E,:;%6E,:;, &%:%6$5% &% &9(?>=BG? & %9(,5,:;%>% &:?& ,#,:;?&
855?F$%;$#$5E?&,&K$:>$F%6$5E?&[?F,:;,&:?&4(%5$6&-&K,E$:W($?&9%(%&[$5F=55G?&
>,&Q,5@=$5%5&,&V?:5;$;=$BG?&>,&Z,>,&>,&Q,5@=$5%>?(,53&(,%6$J%>?&,E&ijjt&
:%5&>,9,:>O:F$%5&>?&e1Q/Z\3&F$>%>,&>?&Z$?&>,&\%:,$(?3&A=5F%:>?&;(%B%(&%5&
9($:F$9%$5 & F%(%F;,("5;$F%5 & >% & 9(?>=BG?3 & 5,=5 & ?AX,;?5 & , & E,;?>?6?*$%53 & A,E&
F?E? & $:>$F%:>? & >,5%H$?5 & 9%(% & % & 9,5@=$5% & >? & ;,E%L & 8>,E%$53 & >,5F(,#, & ?&
>,5,:#?6#$E,:;?&@=,&%&F($%BG?&>%&Z,>,&;,#,3&,E&;,(E?5&>,&5=%&%E96$%BG?&
9%(%&?&96%:?&$:;,(:%F$?:%63&:?&%:?&>,&ijmjL
.;<;=>;?@AB;=Cc& ;(%A%6D? & >?F,:;,T& 5$:>$F%6$5E? & >?F,:;,T& 5$:>$F%6$5E? & >,&
;(%A%6D%>?(,5&,E&,>=F%BG?L
E%(F$%?:>$:%U=?6LF?ELA(
2-&-26%6"&)-'"'6&7-!%*26F&'b'0*'-!:*&6E*26F&'("'0-#'
%*"#)!-#
\?5R&+$(*$6$?&',:>?&.Q,(M7
!%&%F;=%6&H%5,&>,&*6?A%6$J%F$P:&@=,&,5;W&(,F?(($,:>?&,6&H$:%6&>,6&$E9,($%6$5E?&
;$,:,&F?E?&5=&;$EP:&>,&9(?%&,6&%;%@=,&H(?:;%6&%&6%5&F?:F,9F$?:,5&Y&E?>?5&
>,&9,:5%(&>,&6?5&9=,A6?5T&5=&$:;,(R5&:?&5,&(,>=F,&5P6?&%&>,X%(6,5&5$:&E,>$?5&
E%;,($%6,5 & >, & ,N$5;,:F$% & Y & ,H,F;=%( & =: & *,:?F$>$? & ;?;%63 & 5$:? & ;%EA$R:&
D%F,(6,5&F(,,(&@=,&:%>%&5,&9=,>,&D%F,(3&@=,&D%Y&@=,&(,:>$(5,&%&6%&H%;%6$>%>&
Y&%6,*(%(5,&E=FD?&>,&6%&5=,(;,&@=,&=:?&;$,:,&%6&D%A,(&9?>$>?&5?6=F$?:%(3&
;,E9?(%6E,:;,&%6&E,:?53&9(?A6,E%5&>,&6%&9(?9$%&5=A5$5;,:F$%L&K,&*,:,(%&
%5" & =: & $:>$#$>=%6$5E? & F$,*? & @=, & :? & #, & 5$:? & 5?6=F$?:,5 & $:>$#$>=%6,5 & %&
9(?A6,E%5&@=,&%6&5=X,;?&$:>$#$>=%6&:?&5,&6,&9(,5,:;%:&5$:?&F?E?&9(?A6,E%5&
$:>$#$>=%6,5L&b?&,N$5;,&=:%&#$5$P:&*6?A%6&5?F$%63&Y&5,&*,:,(%&=:&F6$,:;,6$5E?3&
=: & 9(%*E%;$5E? & Y & =: & ?9?(;=:$5E? & 9?( & ,6 & @=, & 5, & ;(%;% & >, & ,6$E$:%( & 6%&
F?:F$,:F$%&>,&F6%5,&Y&6%&:?F$P:&>,&?(*%:$J%F$P:&Y&>,&@=,&,5;%&?(*%:$J%F$P:&
>, & 6?5 & 9=,A6?5 & ,5 & 6% & H=,(J% & H(,:;, & % & 6% & F=%6 & 6%5 & >,6 & $E9,($%6$5E? & :=:F%&
9?>(W: & 9(,#%6,F,(L & /6 & ;,E% & F?:?F$E$,:;? & , & $:H?(E%F$P: & 9%(,F, & ,5;%(&
>$5;%:;, & >, & 6%5 & 6=FD%5 & 5?F$%6,53 & 9,(? & ,N%E$:%:>? & =: & 9?F? & ,6 & %5=:;? & 5,&
(,#,6% & @=, & ,5;W & 9(,5,:;, & ,: & 6% & A%5, & >, & ,5%5 & 6=FD%5 & F?E? & =: & 5=9=,5;?&
$E9(,5F$:>$A6,&>,6&%F;=%(&Y&>,6&9,:5%E$,:;?3&9=,5;?&@=,&;?>%5&6%5&H?(E%5&
>,&%F;=%(&D=E%:%5&:?&5?:&:$&%=;?EW;$F%5&:$&$:5;$:;$#%5L&/6&5,(&D=E%:?&D%&
F?:5;(=$>? & 9?( & 5$ & E$5E? & 5= & 9(?9$% & 5?F$,>%>3 & 9,(?3 & 9%(% & ,66?3 & ;$,:, & @=,&
9,:5%(3 & %F;=%(3 & (,H6,N$?:%(L & /6 & 5,( & D=E%:?3 & %:;,5 & >, & %F;=%(3 & 9$,:5%3&
(,H6,N$?:%&,:&A%5,&%&#%6?(,53&,5&>,F$(3&,:&A%5,&% &6?&@=,& @=$,(,& Y&%&6?&@=,&
>,A,&D%F,(3&H?(E=6%&=:&9(?*(%E%&Y&;?E%&>,F$5$?:,53&;?>?&,5;?&>,5>,&=:%&
>,;,(E$:%>%&9?5$F$P:&5?F$%6L&
.;<;D>;?@2<;=C?8&F?:?F$E$,:;?3&$:H?(E%F$P:3&?(*%:$J%F$P:&>,&6?5&E%,5;(?5
E,:>?(?E,(?UD?;E%$6LF?E
*'-!:*&6E*45-'(-'#6&(62*)-'$&62-'(-#')!*+*01*(-!"#'"%'
"(32*45-8'#6&(@3)"V%:J'&*!!*(-'.-!'#"3#'#3,"6)-#K
&€,66$:*;?:&>,&_6$#,$(%&.)8/<1)'23&4(%5$67
_ & ,5;=>? & (,%6$J%>? & 9?( & E$E3 & @=, & (,5=6;?= & ,E & =E% & ;,5, & >, & >?=;?(%>?&
>,H,:>$>% & :% & )%F=6>%>, & >, & />=F%BG? & >% & 1)'23 & H?$ & 5?A(, & % & ;(%X,;P($%&
D$5;P($F% & >? & E?#$E,:;? & >?F,:;, & >, & '$:%5 & 2,(%$5L & Q?(;%:;?3 & ? & F?(;,&
F(?:?6P*$F? & ;(%A%6D%>? & :% & (,H,($>% & ;,5, & (,H6,;, & ? & >,5,:#?6#$E,:;? & >?&
E?#$E,:;? & >?5 & ;(%A%6D%>?(,5 & >% & ,>=F%BG? & ,E & '$:%5 & 2,(%$53 & ?= & 5,X%3&
$:#,5;$*=,$&%&9%(;$(&>?&H$:%6&>%&>RF%>%&>,&oj&.F?:;,N;?&D$5;P($F?&>?&`:?#?&
5$:>$F%6$5E?7&%;R&?&$:"F$?&>?&5RF=6?&rre&.E?E,:;?&>%&D,*,E?:$%&:,?6$A,(%67L&
\=5;$H$F%<5,&,5;,&F?(;,&,E&H=:BG?&>,&@=,&R&%&9%(;$(&>%&>RF%>%&>,&oj3&%9P5&
=E&E?#$E,:;?&*(,#$5;%3&@=,&5,&F($%&%&1:$G?&>?5&S(%A%6D%>?(,5&>%&/>=F%BG?&
>,:;(?&>,&=E&F?:;,N;?&>,&F($5,&>%&>$;%>=(%&E$6$;%(&:?&4(%5$6L&_&E,=&;(%A%6D?&
5, & $:5,(,3 & 9?(;%:;?3 & :% & 9,(59,F;$#% & %:%6";$F% & >?5 & E?#$E,:;?5 & 5?F$%$5 & @=,&
>,5%A(?FD%E&:?&H$:%6&>%&>RF%>%&>,&oj3&F?:;,N;=%6$J%:>?<5,&F?E&?&`b?#?&
K$:>$F%6$5E?a&,&F?E?&>$($%&/>,(&K8[/Z3&,&?5&`:?#?5&%=;?(,5a&@=,&%>,:;(%E&
:% & F,:% & 5?F$%6L & [%$3 & %9P5 & %5 & 9,5@=$5%5 & (,%6$J%>%53 & 5,X% & %;(%#R5 & >%5&
,:;(,#$5;%5&F?6D$>%53&=;$6$J%:>?&%5&;RF:$F%5&>,&I$5;P($%&_(%63&:%&A$A6$?*(%H$%&
(,H,(,:;, & %? & E=:>? & >? & ;(%A%6D? & ,3 & ,E & ,59,F"H$F? & ? & 5$:>$F%6$5E?3 & ,E&
>?F=E,:;?5 & 9(?>=J$>?5 & 9,6% & ,:;$>%>, & %:%6$5%>% & .1S/0K$:><1S/7 & , & :%&
$E9(,:5%&,5F($;%&;%:;?&,E&X?(:%$5&>%&FD%E%>%&*(%:>,&$E9(,:5%&F?E?&:?5&
X?(:%$5 & >$;?5 & %6;,(:%;$#?5 & >, & R9?F%3 & %9?:;? & :? & 5,:;$>? & @=, & :% & ;(%X,;P($%&
D$5;P($F% & >? & E?#$E,:;? & >?F,:;, & ,E & '$:%5 & 2,(%$5 & ?F?((,(W & =E&
,5;(%:D%E,:;?&,:;(,&?&:MF6,?&>$($*,:;,0A%5,&5?F$%6L
.;<;=>;?'2B;=C8&K$:><1S/3&'?#$E,:;?&>?F,:;,3&b?#?&5$:>$F%6$5E?
|,66;D%U;,((%LF?ELA(
*')!*,")F!6*'(-'#6&(62*06#%-'(-2"&)"'&-'+!*#608'(*'
#-26"(*("'(6#26.06&*!'e'#-26"(*("'("'2-&)!-0"K
+%:$%&S%:$(%&4$%#%;;$&&.)1Z43&4(%5$67
_&,5;=>?&?(%&%9(,5,:;%>?&(,F?:5;$;=$&%&D$5;P($%&5$:>$F%6&>?F,:;,&:?&4(%5$6&%&
9%(;$(&>%5&$E96$F%BC,5&>%&5=9,(9?5$BG? &>?&A$:pE$?&=;$6$>%>,0>?F$6$>%>,&>?&
F?(9?&>%&5?F$,>%>,&>$5F$96$:%(&9,6%&=;$6$>%>,09%(;$F$9%BG?&>%&5?F$,>%>,&>,&
F?:;(?6, & , & :,5;%3 & %5 & >$H,(,:B%5 & :% & 9%(;$F$9%BG? & @=, & ? & :,?6$A,(%6$5E?&
9(?#$>O:F$%L&ƒ&:?&H$:%6&>?&5RF=6?&9%55%>?&@=,&F?E&%&*?#,(:%E,:;%6$J%BG?&
>? & /5;%>?3 & ? & F6W55$F? & ;($]:*=6? & $:;,(#,:F$?:$5;% & .,E9(,5W($?53 & A=(?F(%F$%&
,5;%;%6 &,&5$:>$F%;?7 &5,&;(%:5H?(E%&:?&(,;]:*=6?&H?(E%>?&9?(&,E9(,5W($?53&
A=(?F(%F$%&,5;%;%63&A=(?F(%F$%&9($#%>%&,&/5;%>?&*?#,(:%E,:;%6$J%>?L&/H,$;?&
>,5;, & (,%((%:X?3 & ?5 & ;(%A%6D%>?(,5 & A(%5$6,$(?5 & 9%55%E & % & 5=A5;$;=$( & ?&
,:*%X%E,:;?&5$:>$F%6&9?(&>$H,(,:;,5&E?#$E,:;?5&5?F$%$5&.9%(;$>?53&*,5;C,5&
9MA6$F%53 & _b253 & ,;FL7 & F%=5%:>? & ? & ,:H(%@=,F$E,:;? & >?5 & 5$:>$F%;?5L & b?&
,:;%:;?3&R&:,5;,&9,("?>?&@=,&?&E?#$E,:;?&5$:>$F%6&>?F,:;,&5,&F?:5?6$>%&:?&
4(%5$6&E%:;,:>?<5,&H?(E%&E%X?($;W($%&>,&%55?F$%;$#$5E?&>?F,:;,&%;R&?5&>$%5&
%;=%$5L&b,5;,&5,:;$>?&%&(,;?E%>%&>%&;(%X,;P($%&>?&5$:>$F%6$5E?&>?F,:;,&:?&
4(%5$6 & ;(%B% & =E% & %:W6$5, & @=, & ;?E% & *,:,%6?*$F%E,:;, & % & F?:5;$;=$BG? & >?5&
E?>?5&>,&5=AX,;$#%BG?&>?F,:;,&5$:>$F%6&,&:,5;,5&?&9%9,6&@=,&,N,(F,E&:%&
E%:=;,:BG? & >? & E?>,6? & 5$:>$F%6 & %9,5%( & >%5 & %>#,(5$>%>,5 & >?5 & F,:W($?5L&
4=5F%<5,&,:;G?&F?:5$>,(%(&%;R&@=,&9?:;?&?&@=,&E%:;RE&5$:>$F%;?5&>?F,:;,5&
,&;%$5&E?>?5&>,&5=AX,;$#%BG?&E=$;?&,59,F"H$F?5&R&%&9,(5$5;O:F$%&>?&5,:;$>?&
>,&(,5$5;O:F$%3&:,5;,&F%5?3&>,&(,5$5;O:F$%&^&5?F$,>%>,&>,&F?:;(?6,L
.;<;=>;?'AB;=C8&K$:>$F%6$5E?&>?F,:;,3&'?#$E,:;?5&5?F$%$53&/5;%>?
#]:$%UH=(ALA(
"0'%*:6#)"!6-'%"H62*&-'b'"0'#&)"'*&)"'0*#'
)!*&#7-!%*26-&"#'("0')!*+*,-'(-2"&)"'"&'%_H62\?5R&[%#$>&86%($>&[$,*=,J&.1Qb<&8X=5F?3&'RN$F?7
/:&'RN$F?&>=(%:;,&6?5&M6;$E?5&%l?5&5,&D%:&9=,5;?&,:&E%(FD%&=:%&5,($,&>,&
(,H?(E%5 & ,: & ,6 & 5,F;?( & >, & 6% & ,>=F%F$P: & AW5$F%3 & >,5>, & ,6 & /5;%>? & 5, & D%&
%(*=E,:;%>? & @=, & %@=,66%5 & ;$,:,: & 9?( & ?AX,;$#? & E,X?(%( & 6% & F%6$>%> & >, & 6%&
,>=F%F$P:L&!%&EW5&(,F$,:;,&66%E%>%&`86$%:J%&9?(&6%&V%6$>%>&>,&6%&/>=F%F$P:a&
H=,&H$(E%>%&9?(&,6&,X,F=;$#?&:%F$?:%6&Y&6%&>$($*,:F$%&>,6&K$:>$F%;?&b%F$?:%6&
>, &6?5&S(%A%X%>?(,5 &>, &6%&/>=F%F$P: &.KbS/7 &,: &ijjvL&8:;, &,5;%&5$;=%F$P:&
#%($?5&E$6,5&>,&E%,5;(?5&,N9(,5%(?:&5=&>,5F?:;,:;?&@=,&5,&E%;,($%6$JP&,:&
E?#$6$J%F$?:,5L & !?5 & 9(?H,5?(,5 & $:F?:H?(E,5 & %(*=E,:;%: & @=, & 6% & Œ%6$%:J%}&
(,9(,5,:;% & 6% & 9=,5;% & ,: & %FF$P: & >, & ;(%:5H?(E%F$?:,5 & @=, & >,;,($?(%: & 5=5&
F?:>$F$?:,5&>,&;(%A%X?L&8>=F,:&@=,&%6*=:%5&>,&6%5&E,>$>%5&F?:;,E96%>%5&
,: & ,66% & 5$*:$H$F%: & ,E9?A(,F,( & 6% & 9(WF;$F% & ,>=F%;$#% & Y & %(*=E,:;%: & @=, & ,6&
9(?F,5?&5,&D%&>%>?&%6&E%(*,:&>,&5=&?9$:$P:3&>,&D,FD?3&,:&F?:;(%&>,&,66%3&6?&
@=,&5=9?:,&@=,&,6&KbS/&:?&(,9(,5,:;%&5=5&$:;,(,5,5L&/:&,6&9(,5,:;,&;(%A%X?&
5, & %:%6$J%: & %6*=:%5 & F?:5,F=,:F$%5 & >, & 6% & (,H?(E% & ,>=F%;$#% & >,:?E$:%>%&
86$%:J%&9?(&6%&V%6$>%>&>,&6%&/>=F%F$P:&9%(%&,6&;(%A%X?&>?F,:;,&Y&6%&H?(E%&,:&
@=, &,6&KbS/ &D%&9%(;$F$9%>?&,: &,6&9(?F,5?&F?:;(% &6%&?9$:$P: &>,&=:%&9%(;,&
$E9?(;%:;,&>,&6?5&E%,5;(?5&%&6?5&@=,&H?(E%6E,:;,&(,9(,5,:;%L
.;<;D>;?@A<;=Cc&KbS/&Y&5=&(,9(,5,:;%;$#$>%>3&86$%:J%&9?(&6%&V%6$>%>&>,&6%&
/>=F%F$P:3&(,,5;(=F;=(%F$P:&6%A?(%6L&
E?:;*%6hUY%D??LF?ELEN
:"#)6F&'#6&(62*0'"&'"0'#"2)-!'(-2"&)"8'"0'2*#-'("'0*'
3&6G"!#6(*('("'2*%*:y"bJ'23+*
'%($%&S,(,5%&'%FD%>?&[=(W:&.1V3&V=A%7
!$%:,;&2?Y%5&VR59,>,5&.&1V3&V=A%7&
'%(;D%&+,:;?&2%(F"%&.1V3&V=A%7
K%#%:%&[$:$J&2?E,5&',6?&.1)'23&4(%5$6&7
[%6$6%&8:>(%>,&_6$#,$(%&.1)'23&4(%5$67
/6&9(,5,:;,&;(%A%X?&%A?(>%&6?5&:,N?53&,:;(,&6%&&>$(,FF$P:&%>E$:$5;(%;$#%&Y&6?5&
P(*%:?5&5$:>$F%6,5&,:&,6&K,F;?(&[?F,:;,3&9%(%&6%&*,5;$P:&>,E?F(W;$F%&>,&6%5&
F?:@=$5;%5 & />=F%F$P:%6,5 & ?A;,:$>%5 & F?: & ,6 & S($=:H? & >, & 6% & Z,#?6=F$P: & ,:&
V=A%L&K,&;?E%&,:&F=,:;%&,6&,X,E96?&>,&6%&1:$#,(5$>%>&>,&V%E%*n,Y&,:&,6&
F=(5? & ijjt<ijmj & ,: & 6? & (,6%F$?:%>? & F?: & 6%5 & F?:F$6$%F$?:,5 & ,:;(, & 6?5&
;(%A%X%>?(,5&Y&6%&%>E$:$5;(%F$P:&%&;(%#R5&>,6&66%E%>?&V?:#,:$?&V?6,F;$#?&>,&
S(%A%X?3&;%EA$R:&5,&;$,:,&,:&F=,:;%&&6%&,N9,($,:F$%&&>,&5=&%=;?(%&9($:F$9%6&
F?E?&>$($*,:;,&>,6&K$:>$F%;?&b%F$?:%6&>,&S(%A%X%>?(,5&>,&6%&/>=F%F$P:3&6%&
V$,:F$% & Y & ,6 & [,9?(;, & .KbS/V[7 & >=(%:;, & #%($?5 & %l?53 & ,: & $:5;$;=F$?:,5&
=:$#,(5$;%($%5 & Y & 6?5 & $:;,(F%EA$?5 & %F%>RE$F?5 & @=, & 5?A(, & 6% & ;,EW;$F% & >,6&
K$:>$F%6$5E?&Y&;(%A%X?&>?F,:;,&,:&!%;$:?%ER($F%3&H%#?(,F$,(?:&6%5&[?F;?(%5&
K%#%:%&[$:$J&2?E,5&',6?&Y&[%6$6%&8:>(%>, &_6$#,$(%& >=(%:;,&5=5&,5;=>$?5&
9?5>?F;?(%6,5 & 5?A(, & Q?6";$F%5 & />=F%F$P:%6,5 & Y & ;(%A%X? & >?F,:;, & & ,: & 6%&
1:$#,(5$>%>&),>,(%6&>,&'$:%5&2,(%$5&.4(%5$6&ijmj7L&
Q%6%A(%5 & F6%#,5c & V?:#,:$? & F?6,F;$#? & >, & ;(%A%X?3 & *,5;$P: & >,E?F(W;$F%3&
=:$#,(5$>%>L&
E%($%LE%FD%>?U(,>=FL,>=LF=
6$%:,;L*?Y%5U(,>=FL,>=LF=
E%(;D%L#,:;?U(,>=FL,>=LF=
5%#%:%>$:$JUY%D??LF?ELA(
>%6$6%UY%D??LF?E
%*"#)!*#'#6&(62*06#)*#'(-2"&)"#'b'!"0*26-&"#':"&_!62*#
'L&K=5%:%&x%;;%(%&.eeV/&-&1483&8(*,:;$:%7
!%5&(,H6,N$?:,5&9(,5,:;%>%5&,:&,5;,&;(%A%X?&5=(*,:&>,&%6*=:?5&(,5=6;%>?5&
>, & :=,5;(% & ;,5$5 & >, & E%,5;("% & `Z,6%;?5 & >, & #$>% & >, & '%,5;(%5 & E$6$;%:;,5&
*(,E$%6,5&.,:;(,&6%5&>RF%>%5&>,6&sj&Y&vj7a&L&K,&;(%;%&>,6&%:W6$5$5&>,&(,6%;?5&
>,&#$>%&>,&E%,5;(%5&>$($*,:;,5&>,&5$:>$F%;?5&>?F,:;,5&>,&F$=>%>&>,&4=,:?5&
8$(,5 & Y & >,6 & F?:=(A%:? & A?:%,(,:5, & L & 866" & 5, & %:%6$J%: & FPE? & H=,(?: & 6?5&
9(?F,5?5&>,&(=9;=(%5&?&F?:;$:=$>%>,5&F?:&6%5&(,*=6%F$?:,5&D,*,EP:$F%5&>,&
*R:,(?< & F?:>=F;%5 & %9(?9$%>%5 & 9%(% & #%(?:,5 & Y & E=X,(,5< & 9(,5,:;,5 & ,: & 6%5&
$:5;$;=F$?:,5 & H%E$6$%3 & ,5F=,6%3 & *(,E$?53 & D$9?;,;$J%:>? & 6% & 9,(E%:,:F$% & >,&
F=%6$>%>,5<,:;(,*%3 & 5%F($H$F$? & Y & %9?5;?6%>?< & @=, & F?:H?(E%: & % & 6% & `E%>(,&
,>=F%>?(%aL & Q6%:;,%E?5 & %6*=:?5 & %9?(;,5 & 9%(% & 6% & F?E9(,:5$P: & >, & 6%&
F?E96,X$>%> & @=, & 5$*:$H$F% & 9%(% & 6%5 & E%,5;(%5 & 5$:>$F%6$5;%5 & >?F,:;,5 & $:F6=$(&
(,$#$:>$F%F$?:,5 & ,59,F"H$F%5 & >, & 5= & *R:,(? & ,:;(, & 6%5 & >,F$5$?:,5 & 9($?($;%($%5&
>,6 & *(,E$?L & 8 & 9%(;$( & >, & >?5 & %(*=E,:;%F$?:,5c & m<,6 & 9(?F,5? & D$5;P($F? & >,&
F?:H?(E%F$P:&>,&6%&$>,:;$>%>&6%A?(%6&>?F,:;,3&EW5&,59,F"H$F%E,:;,&F?:&,6&
9%5%X,&>,&6%&%=;?9,(F,9F$P:&>,&6%&;%(,%&>?F,:;,&F?E?&`#?F%F$P:a&%&6%&>,&
`;(%A%X?&>?F,:;,aL&iL&!%&>$H$F=6;%>&>,&$:5;%6%(&6%&>$H,(,:F$%&,:&=:%&$:5;$;=F$P:&
>,&6%&E?>,(:$>%>&F=Y?&F?:F,9;?&>,&$*=%6>%>3&5,&H=:>%&,:&=:%&F?:F,9F$P:&
>,&X=5;$F$%&@=,&%M:&(,H$,(,&5?6?&%&6%&X=5;$F$%&(,>$5;($A=;$#%3&5$:&;?E%(&?;(%5&
>$E,:5$?:,5&F?E?&6%&X=5;$F$%&>,6&(,F?:?F$E$,:;?&?&>,&6%&(,9(,5,:;%F$P:L&
.;<;D>;?'A<;=C?8&'%,5;(%53&5$:>$F%6$5;%53&*,:,(?L
E%($%5=5%JUF$=>%>LF?EL%(
E%($%5=5%JU*E%$6LF?E
%"%F!6*#'(-'*##-26*)6G6#%-'"'#6&(62*06#%-'(-2"&)"#8'*#'
G6GZ&26*#'(-#'.!-7"##-!"#'"%'.-!)3:*0
K%:>(%&'%($%&>,&_6$#,$(%&'%(@=,5&2?:B%6#,5&w=,$(?J&-&.V,$/)&-&1!IS3&
Q?(;=*%67
'%($%&>,&)W;$E%&)$*=,$(,>?&-&.V,$/)&-&1!IS3&Q?(;=*%67
8&:,F,55$>%>,&>,&%6;,(%(&%5&F?:>$BC,5&E%;,($%$5&F?E&@=,&?5&9(?H,55?(,5&5,&
>,A%;$%E3 & 6,#%:;?= & @=,5;C,5 & (,6%F$?:%>%5 & F?E & % & 9(,F%($,>%>, & >% & F6%55,&
>?F,:;,3&%&(,H6,NG?&>?5&9%9R$5&9(?H$55$?:%$5&,&F?E&%&(,9(,5,:;%BG?&5?F$%6&>%&
F%((,$(%L & 855$5;,<5,3 & % & =E% & ,59RF$, & >, & `%55?F$%BG?a & >, & 9(?H,55?(,5 & :%&
5$;=%BG? & >, & `9(?#$5P($?5a & , & `,#,:;=%$5a3 & @=, & $:;,*(%#%E & 9(?H$55$?:%$5&
9(?#,:$,:;,5&>,&?&Q%"53&,&@=,&$:$F$%(%E &=E%&$E9?(;%:;, &(,H6,NG?&5?A(,&%&
5$;=%BG?&9(?H$55$?:%6&>?5&9(?H,55?(,5&,&5?A(,&%&9(W;$F%&>?F,:;,L&ƒ3&%&9%(;$(&
>,5;,5&%*(=9%E,:;?5&>,&9(?H,55?(,5&@=,&9,:5%#%E&,&>,A%;$%E&%&9(?H$55G?&
,&(,H6,F;$%E&?&,:5$:?&,&%&,>=F%BG?3&@=,&,E,(*$(%E&?5&2(=9?5&>,&/5;=>?&>?&
Q,55?%6 & [?F,:;, & >? & /:5$:? & K,F=:>W($?L & Q%(% & %6RE & >%5 & @=,5;C,5 & 6%A?(%$53&
(,%6$J%(%E<5,&(,H6,NC,5&>$>WF;$F?<9,>%*P*$F%53&,&>,A%;,5&(,6%F$?:%>?5&F?E&
? & >,5,:#?6#$E,:;? & 9(?H$55$?:%6 & , & H?(E%BG? & >, & 9(?H,55?(,53 & H?F%6$J%:>? & %&
:,F,55$>%>,&>,&>,H$:$(&?&@=,&5,&9?>,($%&>,5$*:%(&>,&/5;%;=;?&>%&V%((,$(%&
[?F,:;,L & _ & %55?F$%;$#$5E? & >?F,:;,3 & %5 & 9=A6$F%BC,5 & 9(?>=J$>%5 & , & % & 6=;%&
;(%#%>%&F?:;(%&?&,5E%*%E,:;?&9(?H$55$?:%63&>,5,:#?6#,(%E&=E%&$>,:;$>%>,&
, & =E% & F?:5F$O:F$% & >?5 & #%6?(,5 & 9(P9($?5 & ^ & 9(?H$55G? & , & >? & 9%9,6 & 5?F$%6 & >?&
9(?H,55?(3 &9%(% &%6RE &>, &F?:5;$;="(,E&%5 &9,>(%5 &%:*=6%(,5&9%(% &@=,3&6?*?&
%9P5&%&Z,#?6=BG?&>?&is&>,&8A($6&>,&mtog3&XW&,E&(,*$E,&>,E?F(W;$F?3 &5,&
F?:5;$;="55,E&,E&Q?(;=*%63&?5&K$:>$F%;?5&>,&Q(?H,55?(,5L
.;<;=>;?'AB;=Cc&K$:>$F%6$5E?&>?F,:;,3&F6%55,&>?F,:;,3&9(?H$55G?
5%:>(%LEL@=,$(?JU*E%$6LF?E
95$LE%($%H$*=,$(,>?U*E%$6LF?E
)"%.-'"'.!-(3)6G6(*("'&-')!*+*01-'(-2"&)"8'3%*'!"70"H5-'
&-'2-)6(6*&-'(*'"#2-0*'.$+062*K
&!=$J&89L&86#,5&>,&K?=J%&-&.1SQ3&4(%5$67
/5;, & ,5;=>? & ;(%J & F?E? & $:@=$,;%BG? & F,:;(%6 & % & >$5F=55G? & 5?A(, & ? & 6=*%( & >?&
;,E9?& , & >%& 9(?>=;$#$>%>, & :? & =:$#,(5? & >? & ;(%A%6D? & >?F,:;, & 9(?>=J$>? & :%&
F,:;(%6$>%>,&>?&F?;$>$%:?&>%&,5F?6%&9MA6$F%L&b,5;,&5,:;$>?3&$:;,:F$?:%&;(%J,(&
F?:;($A=$B• & f,5 & 9%(% & ? & >,A%;,3 & H?F%6$J%:>? & 9%(;$F=6%(E,:;, & ? & ;(%A%6D?&
>?F,:;, & 5?A & % & 9,(59,F;$#% & >? & 9(?H,55?(L & Q?( & E,$? & >, & (,*$5;(?53 & ?5&
9(?H,55?(,5 & E%:$H,5;%(%E & 5?A(, & F?E? & 9,(F,A,E & ? & ;(%A%6D? & >?F,:;, & , & %&
F%;,*?($% & ;,E9? & $:5,($>% & ,E & 5,= & ,59%B? & 6%A?(%6L & _=;(% & F%;,*?($%&
F?:5$>,(%>% & H?$ & % & F?E9(,,:5G? & >, & 9(?>=;$#$>%>, & H(,:;, & %? & 5$5;,E%&
F%9$;%6$5;% & F?E? & ,59%B? & >, & E,(F%:;$6$J%BG?L & / & :,5;, & F,:W($? & F?E? & R&
F?E9(,,:>$>%&%&9(?>=;$#$>%>,&,&?&=5?0>$5;($A=$BG?&>?&;,E9?&:%&,5H,(%&>?&
;(%A%6D? & >?F,:;, & :% & ,5F?6% & 9MA6$F%f & _(*%:$J%E?5 & ? & ;,N;? & ,E & ;(O5&
E?E,:;?53&%&5%A,(c&m7&%9(,5,:;%(,E?5&=E%&>$5F=55G?&;,P($F%&>?&F?:F,$;?&
>,&;(%A%6D?&H(,:;,&%?&9(?F,55?&>,&E,(F%:;$6$J%BG?&,&%&F,:;(%6$>%>,&@=,&?&
;(%A%6D?&>?F,:;,&?F=9%&:,5;,&9(?F,55?T&i7&>$5F=;$(,E?5&?&;(%A%6D?&>?F,:;,&
:?&F?;$>$%:?&>%&,5F?6%&9MA6$F%&%(;$F=6%:>?&F?E&?&>$5F=(5?&>?&9(?H,55?(&@=,&
,5;W & , & #$#, & :,5;, & F?;$>$%:? & , & 9?( & H$E & h7 & ;,F,(,E?5 & =E% & %:W6$5, & >%&
%9(?9($%BG?&>,&;,E9?&,&9(?>=;$#$>%>,&9,(F,A$>%&9,6?5&>?F,:;,5&H(,:;,&%?5&
>,5%H$?5&6%&A?(%$5&9?5;?&9,6%&,5F?6%&9MA6$F%&%;=%6L&
.;<;=>;?@AB;=Cc & ;(%A%6D? & >?F,:;,3 & ;,E9? & , & 9(?>=;$#$>%>,3 & F?;$>$%:?&
,5F?6%(
6=%95?=J%oiUY%D??LF?ELA(
)!*+*01-J'!"#6#)Z&26*'"'-!:*&6E*45-'(-#'(-2"&)"#8'
)"&#9"#J'("+*)"#'"'("#*76-#K
K%#%:%&[$:$J&2?E,5&',6?&.)8/01)'23&4(%5$67
/5;, & %(;$*? & (,M:, & %6*=E%5 & $>,$%5 & 5?A(, & ;(%A%6D? & >?F,:;, & , & H?(E%5 & >,&
(,5$5;O:F$% & >?5 & ;(%A%6D%>?(,5 & >?F,:;,5 & F?6D$>%5 & :% & 6$;,(%;=(% & F?E? & ,;%9%&
9(,6$E$:%( & >, & =E & 9(?X,;? & >, & $:#,5;$*%BG? & $:$F$%>? & ,E & X%:,$(? & >, & ijmj & L&
Q(?F=(%<5,&>,5;%F%(&%&F?E96,N$>%>,&@=,&,:#?6#,&?&;(%A%6D?&,&%&(,5$5;O:F$%&
>?F,:;,3 & 5?A(,;=>? & :?5 & M6;$E?5 & %:?53 & F?E? & H(=;? & >%5 & ;(%:5H?(E%BC,5&
?F?(($>%5&:%&?(*%:$J%BG?&,5F?6%(&,&:%&?(*%:$J%BG?&>?&;(%A%6D?&,5F?6%(3&,E&
>,F?((O:F$% & >%5 & *(%:>,5 & ;(%:5H?(E%BC,5 & 9(?F,55%>%5 & :% & 5?F$,>%>,3 & :%5&
M6;$E%5 & >RF%>%5L & b% & 5,@=O:F$% & >? & ;,N;?3 & 9($E,$(%E,:;, & >,5;%F%<5,&
%59,F;?5&(,6,#%:;,5&%&5,(,E&F?:5$>,(%>?5&9%(%&%&F?E9(,,:5G?&>?&;(%A%6D?&
>?F,:;, & :% & %;=%6$>%>,L & Q?5;,($?(E,:;, & >$5F=;, & ? & ;,E% & >? & F?:H6$;? & , & >%&
(,5$5;O:F$%&>?F,:;,&9%(%3&H$:%6E,:;,3&%A?(>%(&?&;,E%&>%5&5=%5&?(*%:$J%BC,5&
F?6,;$#%53 & 9(?F=(%:>? & ,#$>,:F$%( & ;,:5C,53 & >,A%;,5 & , & >,5%H$?5 & ,:H(,:;%>?5&
9,6?5&;(%A%6D%>?(,5&>?F,:;,5L&
Q%6%#(%5&FD%#,c&S(%A%6D?&>?F,:;,3&Z,5$5;O:F$%3&_(*%:$J%BC,5&K$:>$F%$5L
5%#%:%>$:$JUY%D??LF?ELA(
","'q
*'."#L36#*'"%'#*$("'%"&)*0'("'%301"!"#'.!-7"##-!*#'"%'
+"0-'1-!6E-&)"'"&)!"'/``q'"']aaq
'%(*%(,;D&[$:$J&<&.1)_Q3&4(%5$67
8&9(,5,:;,&9,5@=$5%&9(,;,:>,&F?E9%(%(&>%>?5&>,&=E%&9,5@=$5%&(,%6$J%>%&
,E&mtts0mtto&@=,&9%(;$=&>%&5,*=$:;,&5$;=%BG?c&E=6D,(,5<9(?H,55?(%5&@=,&
%>?,F,E & , & ,:;(%E & ,E & (,%>9%;%BG? & H=:F$?:%63 & (,59%6>%>%5 & 9,6? & >$5F=(5?&
ER>$F?<$:5;$;=F$?:%6&9%(%&`,#$;%(a&=E%&5$;=%BG?&>,&E%6<,5;%(&H(,:;,&^&;%(,H%&
>,&,:5$:%(L&8&9%(;$(&>%&?A5,(#%BG?&>%&9,5@=$5%>?(%&@=%:;?&^5&F?:5;%:;,5&
%=5O:F$%5&%?&;(%A%6D?&>%5&9(?H,55?(%5&>%5&5R($,5&$:$F$%$5&>%&Z,>,&'=:$F$9%6&
>,&/:5$:?3&9(?F=(?=<5,&,:;,:>,(&?&9?(@=O&>,55%5&%=5O:F$%53&E=$;%5&#,J,5&
X=5;$H$F%>%5 & 9?( & %;,5;%>?5 & ER>$F?5L & /E & ijjo & % & 9,5@=$5%>?(% & (,H,J & %&
9,5@=$5% & F?E9%(%:>? & ?5 & >%>?5 & @=%:;$;%$#?5 & (,6%;$#?5 & W & (,%>%9;%BG?&
H=:F$?:%6&A,E&F?E?&?5&>%>?5&@=%6$;%;$#?5&,E&(,6%BG?&%?&E%6<,5;%(&>?F,:;,L
.;<;=>;'@'AB;=C8&K%M>,&>?F,:;,3&Q(?H,55?(%53&Z,%>%9;%BG?&>,&H=:BG?
>$:$JE%(*%(,;DUY%D??LF?ELA(
"&7"!%"(*("#'-23.*26-&*0"#'*#-26*(*#'*'0*'*2)6G6(*('
(-2"&)"
86,N$&[,6*%>?&+$66%:=,#%&.1VI3&Q,(M7
/6 & 9(,5,:;, & ;(%A%X? & 9(?9?:, & E,>$>%5 & % & $E96,E,:;%( & 9%(% & F?:;(?6%( & 6?5&
($,5*?5&>,&:%;=(%6,J%&/(*?:PE$F%&%&6%5&F=%6,5&,5;W&,N9=,5;?&,6&>?F,:;,&,:&
6%&(,%6$>%>&,F?:PE$F?<5?F$%6&>,6&Q,(M3&$:$F$%&F?:&=:&E%(F?&;,P($F?&(,5=E$>?&
>,&6%&5%6=>&?F=9%F$?:%6&Y&F?:F,9;?5&>,&/(*?:?E"%3&9%(%&6=,*?&;,(E$:%(&F?:&
6% & 9(?9=,5;% & >, & E,>$>%5 & F?((,F;$#%5 & 9%(% & F?:;(?6%( & 6?5 & ($,5*?5 & >,A$>? & %&
E%6%5&9?5$F$?:,5&>,&;(%A%X?&,:&,6&,X,(F$F$?&>?F,:;,L
.;<;D>;?'2<;=C8'"XUC>WCR;RC?'TAiS;AjTX;<C?J'">uTXTWm;J'"{C>AjAjT'
RTACXYCK
*&*06#"'"!:-&o%62*'"%'%"%+!-'#3."!6-!'("'.!-7"##-!"#'
(*'!"("'.$+062*'("'"&#6&-K
!=$J&8:;?:$?&4?:%:&.1beV/bSZ_3&4(%5$67
/#%:$&'%(@=,5&Q,(,$(%&.1beV/bSZ_3&4(%5$67
SD%$5&/6$%(%.1beV/bSZ_3&4(%5$67
)Z/eS8K3&\LQL&.1beV/bSZ_3&4(%5$67
8&,(*?:?E$%&R&%&A=5F%&>,&=E&,@=$6"A($?&,:;(,&%5&,N$*O:F$%5&>%5&;%(,H%53&>?&
E%@=$:W($?&,&%5&F%(%F;,("5;$F%5&%:%;pE$F%53&H$5$?6P*$F%53&F?*:$;$#%5&,&%55$E&
F?E? & % & F%9%F$>%>, & >, & 9(?F,55%E,:;? & >% & $:H?(E%BG? & D=E%:%L & 8 & F$O:F$%&
,(*?:pE$F% & 9,(E$;, & %>%9;%( & ?5 & ?AX,;?53 & ?5 & E%;,($%$5 & , & $:5;(=E,:;?5 & >,&
;(%A%6D?&%&,55%5&F%(%F;,("5;$F%5&;?(:%:>?&%5&;%(,H%5&>,&;(%A%6D?&,&6%J,(&E%$5&
HWF,$53 & F?:H?(;W#,$5 & , & 5,*=(%53 & 9,(E$;$:>? & =E% & %BG? & 5?A(, & ?5 & 5$5;,E%53&
9(?F,55?5 & , & 9(?>=;?5 & :? & 5,:;$>? & >, & ;?(:W<6?5 & E%$5 & %>,@=%>?5 & ^5&
F%(%F;,("5;$F%5&>?&D?E,E&,&%?&5,=&E?>?&>,&H=:F$?:%E,:;?L&[,5;%&H?(E%&
F?:5,*=,<5, & =E & E,6D?( & >,5,E9,:D? & >%5 & ;%(,H%5 & >? & ;(%A%6D? & , & >% & #$>%&
>$W($%L&b?&9(,5,:;,&,5;=>?3&9(,;,:>,<5,&?A5,(#%(&@=%6&5,($%&?&9($:F$9%6&H%;?(&
F%=5%>?(&>%5&>?(,5&,&$:FpE?>?5&@=,&%F?E,;,E&?5&9(?H,55?(,5&@=,&H%J,E&
=;$6$J%BG?&H(,@n,:;,&>?&@=%>(?&,E&5=%5&%=6%5&>=(%:;,&9(?6?:*%>?&9,("?>?&
>,&;,E9?L&8&F?6,;%&>?5&>%>?5&5,&9(?F,>,=&,E&>?$5&F?6R*$?5&>%&(,>,&9MA6$F%&
>,&,:5$:?3&9?(&E,$?&>,&=E&@=,5;$?&:W($?&F?E&?:J,&.mm7&@=,5;C,5L&_A5,(#?=<
5,&@=,&vs3k†&>?5&,:;(,#$5;%>?5&H%J,E&?&=5?&>%&6?=5%&>=(%:;,&5=%5&%=6%5&,&
>,5;,5 & ov3s† & %9(,5,:;%E & >?( & ,0?= & $:F?E?>? & %9P5 & ? & =5? & >% & E,5E%3&
(,H?(B%:>? & % & :,F,55$>%>, & >, & =E% & %BG? & ,(*?:pE$F% & ,H,;$#% & :%5 & 5%6%5 & >,&
%=6%L&
.;<;=>;?'2B;=C8&Q(?H,55?(,53&/(*?:?E$%3&',EA(?5&K=9,($?(,53&)$5$?;,(%9$%&
./59,F$%6$>%>,7L
6=$JA?:%:U*E%$6LF?E
,#%:$E9UD?;E%$6LF?E
;D%$5,6$%(%U$A,5;LF?ELA(
X9H$5$?UA?6LF?ELA(
*G*06*45-'(*'L3*06(*("'("'G6(*'("'(-2"&)"#'("'3%*'
3&6G"!#6(*("'.$+062*'(-'"#)*(-'(-'.*!*&I
V($5;$%:,&…n5;,(&.1beV/bSZ_3&4(%5$67
Q8[e!I83&\L_L.1beV/bSZ_3&4(%5$67
&/#%:$&'%(@=,5&Q,(,$(%&.1beV/bSZ_3&4(%5$67
…!1SIV_+K…Š3&8LVL2LVL&.1beV/bSZ_3&4(%5$67
8&w=%6$>%>,&>, &+$>%&>?&>?F,:;, &R &F?:5$>,(%>%&F?:;=(A%>%3 &$:H6=,:F$%:>?&
,E & =E% & 9?55"#,6 & @=,>% & :% & @=%6$>%>, & >, & #$>% & ,E & *,(%6L & [,55% & H?(E%3 & ?&
?AX,;$#?&>?&;(%A%6D?&H?$&%#%6$%(&%&@=%6$>%>,&>,&#$>%&>?5&>?F,:;,5&>?&K,;?(&>,&
V$O:F$%5 & >% & K%M>, & >, & =E% & e:5;$;=$BG? & >? & /:5$:? & K=9,($?( & >? & Q%(%:WL & 8&
E,;?>?6?*$% & H?$ & ,5;=>? & ;(%:5#,(5%6 & >, & %A?(>%*,E & @=%:;$;%;$#%3 & F?E&
%96$F%BG?&>?&@=,5;$?:W($?&€I_w_!<A(,H&>%&_(*%:$J%BG?&'=:>$%6&>%&K%M>,L&
)$J,(%E&9%(;,&>%&9,5@=$5%&vm&>?F,:;,5&>?5&F=(5?5&>%&W(,%&>%&5%M>,L&)?(%E&
?A;$>?5&?5&5,*=$:;,5&(,5=6;%>?5c&9(,#%6O:F$%&>?&5,N?&E%5F=6$:?&.ov3g73&,E&
(,6%BG?&%?&H,E$:$:?&.kt3h7&:?&[?E":$?&)"5$F?L&8&$>%>,&H?$&5$*:$H$F%;$#%&9%(%&?&
[?E":$? & >%5 & Z,6%BC,5 & K?F$%$53 & F?E & E,>$%:% & >, & gv3k & 9%(% & >?F,:;,5 & F?E&
$>%>,&,:;(,&ij&,&hj&%:?5&,&hg3k&:?5&@=,&%9(,5,:;%(%E&hj&%:?5&?=&E%$5L&b%&
F?((,6%BG?&,:;(,&%5&F%(%F;,("5;$F%5&>?&;(%A%6D?&,&w=%6$>%>,&>,&+$>%&9%(%&?&
[?E":$? & >, & w=%6$>%>, & >, & +$>% & 2,(%63 & % & ;$;=6%BG? & >, & E,5;(%>?0>?=;?(%>?&
?A;,#, & =E% & E,>$%:% & >, & gs3 & h3 & F?E9%(%>?5 & F?E & hg3k & 9%(%&
*(%>=%>?50,59,F$%6$5;%5L & 86RE & >$55?3 & % & ;$;=6%BG? & H?$ & 5$*:$H$F%;$#% & 9%(% & ?&
[?E":$? & ',$? & 8EA$,:;, & F?E & ,5F?(, & >, & ko3j & 9%(% & E,5;(,0>?=;?( & ,3 & kh3m&
9%(% & *(%>=%>?0,59,F$%6$5;%L & Q?(;%:;?3 & F?:F6="E?5 & @=, & ?5 & >?F,:;,5&
%9(,5,:;%E & =E% & A?% & @=%6$>%>, & >, & #$>% & E,5E? & F?E & %5 & (?;$:%5 & >$W($%5&
%*$;%>%5L
&.;<;=>;?@AB;=C8&w=%6$>%>,&>,&+$>%T&[?F,:;,5T&/:5$:?L
F($5zJ$:D%ojUD?;E%$6LF?E
E=5$FzX=X=UD?;E%$6LF?E
,#%:$E9UD?;E%$6LF?E&
%:%H%A$?ijjtU*E%$6LF?E
2-%.-!)*%"&)-'!"#606"&)"'"'."!2".45-'("'"#)!"##"'"%'
(-2"&)"#'(-'"&#6&-'73&(*%"&)*0'[+!*#60\
\?$65?:&Q,(,$(%&>%&K$6#%&.1)K3&4(%5$67
_ & ?AX,;$#? & >,5;% & 9,5@=$5% & H?$ & #,($H$F%( & F?E? & ?5 & ":>$F,5 & >, & ,5;(,55,&
9,(F,A$>? & 5, & (,6%F$?:%E & F?E & ?5 & (,F=(5?5 & 95$F?55?F$%$5 & .(,5$6$O:F$% & , & %5&
(,>,5&>,&%9?$?&5?F$%67&>?5&9(?H,55?(,5&>?&,:5$:?&H=:>%E,:;%6&,&ER>$?&>%&
F$>%>, & >, & V%E9$:% & 2(%:>, & - & Q%(%"A%< & 4(%5$6L & )?(%E & =;$6$J%>%5 & =E%&
%>%9;%BG?&>?&@=,5;$?:W($?&>,&%9?$?&5?F$%6&9,(F,A$>?&,&=E%&%>%9;%BG?&>?&
@=,5;$?:W($? & >, & ,5;(,55, & 9,(F,A$>? & , & >, & (,5$6$O:F$%3 & %6RE & >, & =E&
@=,5;$?:W($? & A$?<5PF$?<>,E?*(WH$F?L & 8 & %E?5;(% & H?$ & F?E9?5;% & 9?( & smo&
9(?H,55?(,5 & >, & so & ,5F?6%5 & >% & F$>%>,3 & F?E & $>%>, & ER>$% & >, & hk3s & %:?5&
.[QŽmj3hgT&E$:c&mkT&EWNc&ks73&5,:>?&hg3mm†&D?E,:5&,&ks3vt†&E=6D,(,5L&
_5 & (,5=6;%>?5 & ?A;$>?5 & %;,5;%E & @=, & ? & ":>$F, & >, & ,5;(,55, & 9,(F,A$>? & R&
(,6%;$#%E,:;,&%6;?&,&@=,&5,&(,6%F$?:%&5$*:$H$F%;$#%E,:;,&F?E&%&,N$5;O:F$%&
>, & (,>,5 & 5?F$%$5 & >, & %9?$?L & Z,#,6% & @=, & % & ,N$5;O:F$% & >,5;, & (,F=(5?&
95$F?55?F$%6&H?(;%6,F,&%5&,5;(%;R*$%5&>,&(,5$6$O:F$%L&
.;<;=>;?@AB;=C8&9(?H,55?(,53&,5;(,55,&9,(F,A$>?3&(,5$6$O:F$%
X?$65?:9UD?;E%$6LF?E&
2-&(649"#'("')!*+*01-'"'#3*#'!"."!23##9"#'&*'#*$("'(-#'
.!-7"##-!"#'(*'"(32*45-'+I#62*'&-'+!*#60
89%(,F$>%&b,($&>,&K?=J%&.1beV8'Q3&4(%5$67
'%(F$%&>,&Q%=6%&!,$;,&.1beV8'Q3&4(%5$67
8:W6$5,&>,&9,5@=$5%5&9(?>=J$>%5&5?A(,&%5&F?:>$BC,5&>,&;(%A%6D?&,&5%M>,&>?5&
9(?H,55?(,5&>%&,>=F%BG?&AW5$F%L&_&,5;=>?&5,&A%5,$%&:?&>,A%;,&E%$5&(,F,:;,&
5?A(, & ? & ;,E% & % & 9%(;$( & >, & >$55,(;%BC,5 & , & ;,5,53 & %55$E & F?E? & F?6,;]:,%5 & ,&
6$#(?5 & A%5,%>?5 & ,E & 9,5@=$5%53 & 9(?>=J$>%5 & ,:;(, & mtto & , & ijjkL & [, & H?(E%&
*,(%63 & DW & =E% & 9(,>?E$:]:F$% & >, & ,5;=>?5 & 5?A(, & 5%M>, & E,:;%6c & ,5;(,55,3&
A=(:?=;3 & E%6 & ,5;%(3 & ,:;(, & ?=;(?53 & F?:5;(=">?5 & % & 9%(;$( & >? & F%E9? & >,&
F?:D,F$E,:;? & >% &95$F?6?*$% & , &>% &A$?6?*$%L& b%5 & %:W6$5,5 &5?A(, &? & ;(%A%6D?3&
,5;($;? & 5,:5?3 & 9(,>?E$:%E & ?5 & ,5;=>?5 & ,(*?:pE$F?5 & @=, & F?E9(,,:>,E & %&
%:W6$5, & >, & %;$#$>%>,5 & , & ;%(,H%5 & >?5 & 9(?H,55?(,53 & ? & ;(%A%6D? & >?F,:;, & R&
F?E9(,,:>$>? & F?E? & =E & ;(%A%6D? & (,9,;$;$#?3 & H(%*E,:;%>? & ,E & ;%(,H%5 & ,&
5=AE,;$>?&%&$:;,:5?5&($;E?5&>,&;(%A%6D?L&85&%:W6$5,5&5?A(,&%5&F?:>$BC,5&>,&
;(%A%6D? & 5G? & H?(;,E,:;, & E%(F%>%5 & 9,6% & %=;?<9,(F,9BG? & >?5 & 9(?H,55?(,53&
5,:>? & 9(%;$F%E,:;, & $:,N$5;,:;,5 & ?5 & ,5;=>?5 & ,E9"($F?5 & 5?A(, & %5 & (,%$5&
F?:>$BC,5 &>, &;(%A%6D? &,E&,5F?6%5L &[%&E,5E% &H?(E%3 &DW&;%EARE&9?=F?5&
,5;=>?5&5?A(,&?5&(,H6,N?5&>%&?(*%:$J%BG?&,&>%&*,5;G?&>?&;(%A%6D?&:%&5%M>,&
>?5 & 9(?H,55?(,5 & , & ?5 & ,5;=>?5 & 5?A(, & 5%M>,3 & >, & H?(E% & *,(%63 & A=5F%E & ?5&
5$:;?E%5 & .%=;?<9,(F,9BG?7 & , & 5=%5 & 9%;?6?*$%5 & , & %F%A%E & 9?( & ,5;%A,6,F,(&
?($,:;%BC,5&9%(%&%&9(?E?BG?&,&9(,#,:BG?&.,5;=>?5&9(,5F($;$#?57L
.;<;=>;'AB;=C8&V?:>$BC,5&>,&;(%A%6D?3&K%M>,&>?F,:;,3&S(%A%6D?&>?F,:;,
%:,($5?=J%U=?6LF?ELA(
"0'%*0"#)*!'(-2"&)"'2-%-'"7"2)-'("'0*'
M*(-0"#2"&)6E*26F&N'2-&)"%.-!I&"*'("0'#-26*0
'%(F,6?&Z$F%(>?&Q,(,$(%&.1)'23&4(%5$67
+$#$E?5 & ,: & ;$,E9?5 & >,6 & E%6,5;%( & >, & 9(?H,5?(,5 & H(,:;, & % & =:% & F=6;=(% & >,&
,NF,5?5 & *,:,(%6$J%>?5L & 4%X? & 6%5 & H?(E%5 & >, & *?F, & E,:?5 & (,9($E$>%53&
(,:>$E?5 & F=6;? & % & ,5?c & %6 & D$9,(F?:5=E?3 & %6 & >?E$:$? & ;,F:?6P*$F?3 & %6&
#?Y,=($5E? & >, & 6%5 & $EW*,:,53 & % & 6% & 5?A(,#%6?(%F$P: & >, & 6% & $:;$E$>%>3 & % & 6%&
5,*(,*%F$P:L & !?5 & :$l?5 & Y & 6?5 & %>=6;?5 & @=$,(,: & F?E9?(;%(5, & F?E? & XP#,:,53&
9?(@=,&D%Y&=:%&q%>?6,5F,:;$J%F$P:q&>,6&5?F$%6&,:&6%&E$5E%&E,>$>%&@=,&6%&
,N9,($,:F$%3&6%&E,E?($%3&6%&6,Y&Y&6%&9%6%A(%&,5;W:&%=5,:;,5&?&H6?X%5L&V?:&,6&
F%E$:? & >,59,X%>?3 & 5$: & $:;,(>$FF$P: & , & $>,:;$H$F%>? & % & 6?5 & ,N;(,E?5 & $>,%6<
>,Y,FF$P:3&6?5&XP#,:,5&9(?>=F,:&6?5&E?>?5&(%>$F%6,5&>,&5":;?E%c&F$:$5E?3&
,5F%(:$?3 & $:>$5F$96$:%3 & %9%;"%3 & #$?6,:F$%3 & D$9,(5,N=%6$>%>3 & E%(F%5 & ,: & ,6&
F=,(9?3&;?N$F?E%:"%&Y&>,9(,5$P:L&/5?&,5&#$#$>?&F?:&A%5;%:;,&$:;,:5$>%>&9?(&
6?5&>?F,:;,5&@=,&%F?*,:&Y&F?:#$#,:&>$(,F;%E,:;,&F?:&6?5&XP#,:,5L&8l%>$>?&
%6 & >,5*%5;, & 5?F$%6 & >, & 5= & ?H$F$?& Y & % & 6%& 9(?6,;%($J%F$P: & >, & 5= & 9(?H,5$P:3& 6?5&
9(?H,5?(,5 & ;%EA$R: & 9(?>=F,: & %6*=:?5 & E?>?5 & F=,5;$?:%A6,5 & >, & 5":;?E%&
F?E?&,H,F;?&>,&,5,&E%6,5;%(c&;(%5;?(:?5&>,&%:5$,>%>3&>,&9,(5?:%6$>%>&?&>,&
9W:$F?3 & A$9?6%($>%>,53 & >,9(,5$?:,53 & ?A5,5$?:,53 & 95$F?5?E%;$J%F$?:,5&
>$#,(5%5 & @=, & 9=,>,: & 6?5 & 66,#%( & % & 6?5 & ,NF,5?5 & >, & E,>$F%6$J%F$P:3 & % & 6%5&
6$F,:F$%5&ER>$F%53&%6&%A5,:;$5E?3&%6&`4=(:?=;a&,;FL&/5;?&9=,>,&:?&5,(&%5"L&I,&
%@="&6?&@=,&%A?(>%(,E?5L
.;<;D>;?'A<;=C8&E%6,5;%(&>?F,:;,T&X=#,:;=>T&5":;?E%
E%(F,6?($9UD?;E%$6LF?E
-'%*0@"#)*!'(-2"&)"J'-'*(-"26%"&)-'"'*#'2-&(649"#'("'
)!*+*01-'&-'"H"!2O26-'(-'%*:6#)_!6-J'&-'"&#6&-'
73&(*%"&)*0'(*'26(*("'("'+")6%J'%6&*#':"!*6#V+!*#60K
\?5%:,&89%(,F$>%&w=$:;G?&Z?E,(?&4%5;?5&.Z'/04,;$E34(%5$67
!,$6%&>,&86#%(,:*%&'%H(%&.Q1V0'23&4(%5$67
/5;,&;,N;?&%9(,5,:;%&(,5=6;%>?5&>,&=E%&9,5@=$5%&5?A(,&?&E%6<,5;%(&>?F,:;,&
,&9(?F,55?5&>,&%>?,F$E,:;?&,E&9(?H,55?(%5&@=,&%;=%E&:?5&F$F6?5&$:$F$%$53&
>? & ,:5$:? & H=:>%E,:;%63 & >% & Z,>, & '=:$F$9%6 & >, & /:5$:? & >, & 4,;$E3 & '$:%5&
2,(%$504(%5$6L & Q($#$6,*$?=<5, & :,5;, & ,5;=>? & =E% & %A?(>%*,E & E,;?>?6P*$F%&
@=%6$;%;$#%3 & %;(%#R5 & >% & %:W6$5, & >?5 & >,9?$E,:;?5 & ?(%$5 & F?6,;%>?5 & ,E&
,:;(,#$5;%5 & 5,E$<,5;(=;=(%>%5 & F?E & 9(?H,55?(%5 & >, & >$H,(,:;,5 & ,5F?6%5L&
Q(?F=(?=<5, & >,5;%F%( & ?5 & H%;?(,5 & F?:>$F$?:%:;,5 & @=, & F?:;($A="(%E & 9%(% & ?&
5=(*$E,:;? & >,55, & H,:pE,:? & ,:;(, & %5 & >?F,:;,5L & _ & ,5;=>? & (,#,6?= & %&
?F?((O:F$% & >, & %>?,F$E,:;?5 & F?E? & 5;(,553 & >,9(,55G?3 & %9%;$% & , & %*(%#?5&
,E?F$?:%$5L&[,;,F;?=<5,&;%EARE3&;(%:5;?(:?5&(,6%F$?:%>?5&%?&=5?&%A=5$#?&
>% & #?JL & _5 & 9($:F$9%$5 & H%;?(,5 & %9(,5,:;%>?5 & 9,6%5 & 9(?H,55?(%5 & F?E?&
>,5,:F%>,%>?(,5 & >?5 & 5,=5 & 9(?F,55?5 & >, & %>?,F$E,:;? & (,H,(,E<5, & ^&
5?A(,F%(*% & , & F?:>$BC,5 & >, & ;(%A%6D? & :% & ,5F?6%3 & ,59,F$%6E,:;, & % & >=96%&
X?(:%>%3 & A%$N?5 & 5%6W($?53 & % & $:;,:5$H$F%BG? & >%5 & %;$#$>%>,5 & >?F,:;,5L&
[,5;%F%E<5, & %$:>% & %5 & E=>%:B%5 & :? & 9(?F,55? & ,:5$:?<%9(,:>$J%*,E&
F%=5%>%5 & 9,6? & H$E & >% & 5,($%BG? & , & $:;(?>=BG? & >?5 & F$F6?5 & >, & %9(,:>$J%*,E3&
%=E,:;? & >? & :ME,(? & >, & %6=:?5 & 9?( & 5%6%3 & ? & :?#? & 9,(H$6 & 5?F$?F=6;=(%6 & >?5&
%6=:?53&E,:?(&9%(;$F$9%BG?&>%&H%E"6$%&:%&#$>%&,5F?6%(&>?5&H$6D?53&>$H$F=6>%>,5&
>, & (,6%F$?:%E,:;? & ,:;(, & 9(?H,55?(,5 & , & 9(?H$55$?:%$5 & >%5 & ,5F?6%5 & ,&
9(?A6,E%5&F?E&%5&:?#%5&H?(E%5&>,&*,5;G?&>%&,5F?6%L&
.;<;=>;? ' 2B;=Cc & '%6</5;%( & , & 8>?,F$E,:;? & >? & Q(?H,55?(3 & V?:>$BC,5 & >,&
S(%A%6D?3&/N,(F"F$?&>?&'%*$5;R($?L
'X?5%:,L(?E,(?U$*LF?ELA(
6%E%H(%U?=6LF?ELA(
.!-b"2)-#'("'6&G"#)6:*26F&K'
M-7626-'(-2"&)"'b'%*0"#)*!'"&'0*'"#23"0*'#"23&(*!6*K'
!"#30)*(-#'.!"06%6&*!"#
8F%F$%&S?($J&QR(,J
/5;,&,5;=>$?&>,&;$9?&,N96?(%;?($?3&9(,;,:>,&>%(&F=,:;%&>,6&E%6,5;%(&>?F,:;,&
@=,&,N9,($E,:;%:&6?5&9(?H,5?(,5&>,&6%&,>=F%F$P:&5,F=:>%($%&9MA6$F%3&F?E?&
F?:5,F=,:F$% & >,6 & >,;,($?(? & >, & 5=5 & F?:>$F$?:,5 & >, & ;(%A%X?3 & ,: & 6%5 & M6;$E%5&
;(,5 & >RF%>%5L & /6 & E%6,5;%( & >?F,:;, & 5, & ;(%;% & >,5>, & =:% & 9,(59,F;$#%&
9($:F$9%6E,:;,&5?F$%6L&b?5&A%5%E?5&,:&;,?("%5&@=,&%A?(>%:&,6&;,E%&>,&6%5&
$:5;$;=F$?:,5c & 6% & V?:5;(=FF$P: & K?F$%6 & >, & 6% & Z,%6$>%> & .4,(*,( & Y & !=F{E%::3&
mtts7 & Y & ,6 & [,F6$#, & >, & 6% & e:5;$;=F$P: & .[=A,; & ijjk73 & F?E? & =:% & E%:,(% & >,&
,N96$F%( & ,6 & ?(>,: & 5?F$%63 & Y & % & 9%(;$( & >, & 6% & %6;,(%F$P: & >, & ,5;,3 & F?E? & 6?5&
$:>$#$>=?5 &9=,>,: & 9,(>,( &,5;%A$6$>%> & 5?F$%63 &? & A$,: & 9(?>=F$(5, & ,: &,66?5 & ,6&
E%6,5;%(&>?F,:;,3&,:&,6&F%5?&@=,&:?5&?F=9%L&S?E%E?5&%9?(;,5&;%EA$R:&>,&
6% & Q5$F?6?*"% & K?F$%6 & >, & 6%5 & _(*%:$J%F$?:,5 & .KFD#%(5;,$:3 & mtts7L & K, & D%&
=;$6$J%>? & % & 6% & ,;:?5?F$?6?*"%3 & F?E? & ,6 & 9($:F$9%6 & (,H,(,:;, & E,;?>?6P*$F?3&
>,A$>? & %6 & F%(WF;,( & F=%6$;%;$#? & Y & 5?F$%6 & >, & ,5;, & ,5;=>$?L & !?5 & (,5=6;%>?5&
9(,6$E$:%(,5 & 5?:c & @=, & 6?5 & E%,5;(?5 & ,N9,($E,:;%: & >$H,(,:;,5 & E%6,5;%(,53&
>,A$>?&%6&>,;,($?(?&>,&5=5&F?:>$F$?:,5&>,&;(%A%X?&Y&5=5&5=AX,;$#$>%>,5L&/6&
H%F;?( & @=, & % & 6% & *,:,(%6$>%> & >, & 6?5 & 9(?H,5?(,5 & 6,5 & 9(?>=F, & =: & E%Y?(&
E%6,5;%(3 & ,5 & ,6 & >,;($E,:;? & >,6 & #%6?( & >, & 5= & H$*=(% & Y & ;(%A%X? & >?F,:;,3 & 9?(&
9%(;,&>,&6?5&%6=E:?53&6?5&9%>(,5&>,&H%E$6$%&Y&%=;?($>%>,5&,5F?6%(,5L
& .;<;D>;? ' A<;=Cc & E%6,5;%( & >?F,:;,3 & F?:>$F$?:,5 & >, & ;(%A%X?3 & ,>=F%F$P:&
5,F=:>%($%L
&%F%F$%;9UY%D??LF?ELEN
."!2".45-'(*'#*$("'-!:*&6E*26-&*0'"&)!"'.!-7"##-!"#'("'
6&#)6)3645-'7"("!*0'("'"&#6&-'#3."!6-!
K,($*:,&8A%A%F%(&V$55R&4%&.V8V01)23&4(%5$67
8:>(R&+%5F?:F,6?5&>%&K$6#%&.V8V01)23&4(%5$67
86,N%:>,(&',$(,6,5&>%&K$6#%&.V8V01)23&4(%5$67
V%(6%&b%;%6$:%&>%&K$6#%&),(:%:>,5&.V8V01)23&4(%5$67
\?5R&\=6$?&VL&Q$;=A%&.V8V01)23&4(%5$67
€%6;,(6]:$%&K$6#%&K%:;?5&.V8V01)23&4(%5$67
8;(%#R5 & >,55, & ,5;=>?3 & ;,:;?=<5, & 6,#%:;%( & ,6,E,:;?5 & @=, & F%(%F;,($J%E & %&
9,(F,9BG? & >% & 5%M>, & ?(*%:$J%F$?:%6 & :? & E,$? & >, & =E & %EA$,:;, & %F%>OE$F?&
9MA6$F? & H,>,(%6L & 8;(%#R5 & >, & =E & ER;?>? & >, & =E% & /5F%6% & >, & Q,(F,9BG? & >,&
K%M>,&_(*%:$J%F$?:%6&-&F?:5;(=">%&,&#%6$>%>%&9?(&2?E$>,&\(L3&'?=(%3&V=:D%&
,&K?=5%&.mttt7L&_&,5;=>?&>,5F($;$#?&>%&Q,(F,9BG?&>,&K%M>,&_(*%:$J%F$?:%6&
>, & 9(?H,55?(,5 & =:$#,(5$;W($?5 & 9,(E$;$= & >$E,:5$?:%( & $:H,(,:F$%6E,:;, & %&
9(W;$F% & >?F,:;, & F?E & ?5 & H%;?(,5 & >% & e:;,*(%BG? & >, & Q,55?%5 & , & /@=$9,5 & ,&
)6,N$A$6$>%>, & , & 8>%9;%A$6$>%>, & % & [,E%:>%5 & /N;,(:%5L & [,5;% & H?(E%3 & DW&
$:>$F%BC,5 & :% & ?(*%:$J%BG? & >, & @=, & ? & ;(%A%6D? & >? & ,>=F%>?( & 9?55% & ,5;%(&
9,(>,:>?3&?=&9,6?&E,:?5&F?E9(?E,;,:>?&5=%&H=:BG?&9($E?(>$%6L&_=&5,X%3&?&
9(?H,55?( & 5,($% & =E & %*,:;, & >, & E=>%:B%3 & F?E & 5%A,(,5 & , & #$#O:F$%5&
%F=E=6%>%5 & 5?A(, & 5,= & 9(P9($? & ;(%A%6D? & ,3 & E%$5 & %$:>%3 & %F=E=6%>?5&
F?6,;$#%E,:;,L&
.;<;=>;?@AB;=C8'Q,(F,9BG?T&5%M>,&?(*%:$J%F$?:%6T&e/K&9MA6$F%L
5,($*:,%A%A%F%(UD?;E%$6LF?E
!"70"H9"#')"F!62-'.!I)62*#'*'.*!)6!'("'."#L36#*'
6&)"!G"&45-'2-%'.!-7"##-!"#'("'"&#6&-'73&(*%"&)*0'&*'
:!*&("'#5-'.*30V($5;$:%&'$Y={$&I%5D$J=E,&.1KQ3&4(%5$67
8 & 9%(;$( & >, & %=;?(,5 & >% & 95$F?6?*$% & ,5F?6%(0 & $:5;$;=F$?:%6 & , & [,X?=(5&
.Q5$F?>$:]E$F%&>?&S(%A%6D?7&?&9(,5,:;,&;(%A%6D?&?AX,;$#?=&(,H6,;$(&5?A(,&%5&
(,9,(F=55C,5&>?&;(%A%6D?&>?F,:;,&:%&5%M>,&.E,:;%6&,&H"5$F%7&>?&;(%A%6D%>?(3&
$:#,5;$*%:>?&?&E?>?&F?E?&,55,5&;OE&,:H(,:;%>?&%>#,(5$>%>,5&>?&F?;$>$%:?&
6%A?(%6L & /55, & ,5;=>? & ;(%J & %6*=E%5 & (,H6,NC,5 & ;,P($F%5 & 9(?#,:$,:;,5 & >,&
9,5@=$5%5<&$:;,(#,:;$#%5&,&?A5,(#%BC,5&9%(;$F$9%:;,5&(,%6$J%>%5&,E&,5F?6%5&
>, & ,:5$:? & H=:>%E,:;%6 & :% & 2(%:>, & KG? & Q%=6?L & 8;,:;%E?53 & ;%EARE3 & 9%(%&
?=;(?5 & ;,E%5 & @=, & 5, & F?:H$*=(%(%E & :? & >,F?((,( & >? & ,5;=>? & , & @=, & 5G?&
$E9?(;%:;,5&9%(%&%:%6$5%(E?5&?&9%:?&>,&H=:>?&@=,&5,&F?:H$*=(%&:?&F,:W($?&
>?&;(%A%6D?&>?F,:;,L&8:%6$5%E?5&?5&E?>?5&>?5&9(?H,55?(,5&5,&>,H,:>,(,E&
>%5 & %>#,(5$>%>,5 & >? & E,$? & % & 9%(;$( & >, & %=;?(,5 & F?E? & [,X?=(53 & % & K%M>,&
V?6,;$#%&,&%&;,?($%&>%&V6$:$F%&K?F$%63&>,:;(,&?=;(?53&@=,&5,&?H,(,F,E&F?E?&
=E&5=9?(;,&>,&$:;,(6?F=BG?&9%(%&%&>$5F=55G?&>?5&;,E%5&>,5,:#?6#$>?5L
.;<;=>;'AB;=Cc&S(%A%6D?&>?F,:;,3&K%M>,&>?F,:;,3&/:5$:?&)=:>%E,:;%6
F($5E$Y=UD?;E%$6LF?E
#*$("'(-'.!-7"##-!8'"#)3(-'&*'!"("'%3&626.*0'("'"&#6&-'("'
G6)F!6*'(*'2-&L36#)*@+*
4,:,>$;?&2L&/=*O:$?
/>$:R&K%:;?5&_6$#,$(%&V,(@=,$(%
'%($%&'W(F$%&2?E,5&>%&K$6#%
85&%;=%$5&F?:>$BC,5&>,&;(%A%6D?&%&@=,&,5;G?&,N9?5;?5&%&*(%:>,&E%$?($%&>?5&
9(?H,55?(,5&>%&,>=F%BG?&AW5$F%&5G?&>,*(%>%:;,5L&[$%($%E,:;,&?5&>?F,:;,5&
%;=%E&,E&5%6%5&>, &%=6%&@=,&:G?&?H,(,F,E&%5&E":$E%5&F?:>$BC,5&9%(%&?&
>,5,:#?6#$E,:;?&>?&9(?F,55?&>,&,:5$:%*,E&,&$55?&;,E&6,#%>?&%&:=E,(?5?5&
F%5?5 & >, & >,5$5;O:F$% & >? & ;(%A%6D?L & Q(,?F=9%>?5 & F?E & ? & %6;? & ":>$F, & >,&
9(?H,55?(,5&%H%5;%>?5&9?(&E?;$#?5&>,&5%M>,&:%&Z,>,&'=:$F$9%6&>,&/:5$:?&>,&
+$;P($%&>%&V?:@=$5;%3&R&@=,&>,F$>$E?5&(,%6$J%(&%&$:#,5;$*%BG?&F=X?5&>%>?5&
5G?&%@=$&%9(,5,:;%>?5L&_&?AX,;$#?&H?$&%:%6$5%(&%5&F?:>$BC,5&>,&5%M>,&>?5&
9(?H,55?(,5&>,&,5F?6%5&>%&(,>,&9MA6$F%&E=:$F$9%6&>,&+$;P($%&>%&V?:@=$5;%L&
V?E? &$:5;(=E,:;? &9%(% &% & F?6,;% &>?5 & >%>?53 & H?$ &%96$F%>? & =E& @=,5;$?:W($?&
F?:;,:>?&@=,5;C,5&%A,(;%5&,&H,FD%>%53&%&mi&9(?H,55?(,53&5,:>?&mm&>?&5,N?&
H,E$:$:?&,&jm&>?&E%5F=6$:?3&F?E&$>%>,&#%($%:>?&,:;(,&hj&,&sm&%:?5L&_5&
>%>?5 & 6,#%:;%>?5 & %9?:;%(%E & 9%(% & % & ,N$5;O:F$% & >, & 5$:;?E%5 & 6$*%>?5 & %?&
5?H($E,:;? & H"5$F? & , & 95"@=$F?L & S,:>? & ,E & #$5;% & @=, & ?5 & 5=X,$;?5 & 9,5@=$5%>?5&
F?:#$#,E&>$%($%E,:;,&F?E&5$;=%BC,5&@=,&9?>,E&6,#W<6?5&%?&%>?,F$E,:;?3&
,5;,&,5;=>?&5$:%6$J%&9%(%&=E&9?55"#,6&>,5F?:D,F$E,:;?3&9?(&9%(;,&>,55,5&
;(%A%6D%>?(,53&5?A(,&?5&,H,$;?5&>?&;(%A%6D?&,E&5=%&5%M>,&H"5$F%&,&E,:;%6L&&
.;<;=>;?@AB;=Cc&F?:>$BC,5&>,&;(%A%6D?3&9(?H,55?(3&5%M>,L&
A,:,>$;?,=*,:$?UA?6LF?ELA(
)!*+*01-'(-2"&)"8'"H."!6Z&26*#'("'*06"&*45-'"'("'
*3)-&-%6*
'%($%&%9%(,F$>%&>,&K?=5%&.1:43&4(%5$67
/5;,&%(;$*?&%:%6$5%&?&;(%A%6D?&>?&9(?H,55?(&F?E?&=E%&%;$#$>%>,&F?E96,N%3&
$:5F($;%&,E&=E&F?:X=:;?&>,&(,*(%5&,&9(,5F($BC,53&;"9$F%5&>%5&?(*%:$J%BC,5&
A=(?F(W;$F%5L & e:$F$%6E,:;,3 & A=5F% & F?:;,N;=%6$J%( & ? & ;(%A%6D? & >?F,:;, & :%&
?(*%:$J%BG? &,5F?6%(T &,E&5,*=$>%3&%:%6$5%&$:H?(E%BC,5 &F?6,;%>%5 &9?(&E,$?&
>, & 9,5@=$5% & ,;:?*(WH$F%3 & (,%6$J%>% & :? & %:? & >, & ijji & ,E & =E% & >? & [$5;($;?&
),>,(%63&4(%5$6L&KG?&(,H,(O:F$%5&9($:F$9%$5&>,&%:W6$5,&?5&,5;=>?5&>%&%6$,:%BG?&
(,%6$J%>?5&9?(&…%(6&'%(N&:?5&`'%:=5F($;?5&,F?:pE$F?5&,&H$6?5PH$F?5a3&%&;,?($%&
|,A,($%:% & >% & A=(?F(%F$% & , & % &95$F?>$:]E$F% & >? & ;(%A%6D?3 & ,6%A?(%>% & 9?(&
V($5;?9D,&[,X?=(5L&Q%(%&,N,E96$H$F%(%&%&9,(59,F;$#%&A=(?F(W;$F%&>?&;(%A%6D?&
>?&9(?H,55?(&.@=,&,:*,:>(%&%&%6$,:%BG?73&%9(,5,:;?&=E&@=%>(?&F?E9%(%;$#?&
>?&;(%A%6D?&>?F,:;,&%&9%(;$(&>%&9,(F,9BG?&>%5&9(?H,55?(%5&9,5@=$5%>%5&,&%&
9%(;$(&>%&9(,5F($BG?&6,*%6&F?:;$>%&:?&Z,*$E,:;?&/5F?6%(&>%5&,5F?6%5&9MA6$F%5&
>%&K,F(,;%($%&>,&/>=F%BG?&>?&[)L&8&9,5@=$5%&,;:?*(WH$F%&9,(E$;$=&F?:F6=$(&
@=,&9(W;$F%5&A=(?F(W;$F%5&F?:#$#,E&F?E&9(W;$F%5&$:?#%>?(%5&,&F($%;$#%53&?&
@=,&9?>,&5,(&F?:5;%;%>?&:G?&%9,:%5&,E&(,6%BG?&%&5=X,$;?5&>$H,(,:;,53&E%5&
F?E? & 9?55$A$6$>%>, & F?6?F%>% & 9%(% & ? & E,5E? & 5=X,$;?3 & @=, & ?(% & %9(,5,:;%&
F?E9?(;%E,:;?5&@=,5;$?:%>?(,53&F($%;$#?53&?(%&%9(,5,:;%&F?E9?(;%E,:;?5&
>, & (,9(?>=BG?3 & E?5;(%:>?<5, & %>%9;%>? & % & =E & E?>,6? & A=(?F(W;$F? & ,&
%6$,:%:;,L
.;<;=>;'AB;=Cc&S(%A%6D?&>?F,:;,3&_(*%:$J%BG?&,5F?6%(3&4=(?F(%$F$%
E%95?=5%imUA?6LF?ELA(
)!*&#)-!&-'%"&)*0'"')!*+*01-'(-2"&)"
&!,?E%(&>%&V?5;%&/56%AG?&.e)<K1!3&4(%5$67&&
/6%$:,&S?E%5$&.1VQ/!3&4(%5$67&
\%(A%5&K%:;?5&+$,$(%&.1)Q/!3&4(%5$67
'%($%&>,&)W;$E%&'%(;$:5&.1)Q/!3&4(%5$67
&'%($%&'%:=,6%&86#,5&2%(F$%&.1)Q/!3&4(%5$67
&+,(%&!MF$%&2%$:55%&4%6$:D%5&.1)Q/!3&4(%5$67
&86$:,&),((%J&>%&K$6#%&.1)Q/!3&4(%5$67
&V%(E,E&!MF$%&>%&Z?5%&),;;,(&.1)Q/!3&4(%5$67
/5;=>?5 & (,%6$J%>?5 & :? & 4(%5$6 & , & :? & E=:>? & ;OE & %9?:;%>? & ?5 & ;(%:5;?(:?5&
E,:;%$5 & , & F?E9?(;%E,:;%$5 & F?E? & =E% & >%5 & 9($:F$9%$5 & F%=5%5 & >?&
%A5,:;,"5E? & >, & ;(%A%6D%>?(,5 & >, & 5=%5 & %;$#$>%>,5 & 6%A?(%$5L & Z,6%F$?:%>? & ^&
,>=F%BG? & ,5;, & ;,E% & ;,E & ;$>? & O:H%5, & 9($:F$9%6E,:;, & 9?( & ,5;=>?5&
(,6%F$?:%>?5&^&K":>(?E,&>,&4=(:?=;&?=&E%$5&,59,F$H$F%E,:;,&%?&E%6<,5;%(&
>?F,:;,L & b,5;, & ,5;=>? & ?AX,;$#?=<5, & % & %:W6$5, & >?5 & ;(%:5;?(:?5 & E,:;%$5 & ,&
F?E9?(;%E,:;%$5&:%&(,>,&E=:$F$9%6&>,&,>=F%BG?&>%&F$>%>,&>,&Q,6?;%50ZK&<&
4(%5$6L&/E9(,*?=<5,&=E%&%:W6$5,&>,&F%(W;,(&@=%:;$;%;$#?&@=,&;,#,&9?(&A%5,&
?5&%H%5;%E,:;?5&9?(&E?;$#?5&>,&5%M>,&>?&9(?H,55?(%>?&E=:$F$9%6&,:;(,&?5&
%:?5&>,&ijjk<ijjo3&F?E96,E,:;%>?&9?(&=E&,5;=>?&@=%6$;%;$#?&>,&,NF,(;?5&
>?5 & (,6%;?5 & >%5 & 9(?H,55?(%5 & (,H,(,:;,5 & %? & 9(?F,55? & >, & ;(%A%6D? & , & ?&
%>?,F$E,:;? & >?F,:;,L & 4=5F%(%E<5, & %5 & (,6%BC,5 & ,N$5;,:;,5 & ,:;(, & ?5&
;(%:5;?(:?5 &E,:;%$5&,&F?E9?(;%E,:;%$5 &,&%5&F%(%F;,("5;$F%5&H=:F$?:%$5&>?&
E%*$5;R($?3&;%$5&F?E?&5,N?3&H%$N%&,;W($%&,&H=:BG?&>?F,:;,L&V?:5;?=<5,&@=,&
?5&;(%:5;?(:?5&E,:;%$53&,EA?(%&:G?&5,X%&%&9($:F$9%6&F%=5%&,E&:ME,(?&>,&
F%5?5 & >, & 6$F,:B%5 & ER>$F%53 & F?:5;$;=$<5, & F?E? & % & >?,:B% & (,59?:5W#,6 & 9,6?&
E%$?(&%H%5;%E,:;?&>?5&>?F,:;,5&>%5&5%6%5&>,&%=6%&,E&:ME,(?&>,&>$%5L&_&
=5?&>,&E,>$F%E,:;?5&;%EARE&H?$&,#$>,:F$%>?&F?E?&=E%&9(W;$F%&F?E=E&
,:;(,&?&9(?H,55?(%>?3&F?:5;$;=$:>?<5,&F?E?&=E%&H?(E%&>,&%6"#$?&>%5&;,:5C,5&
>?&;(%A%6D?&>?F,:;,&,&F?E?&=E%&H?(E%&>,&E%:;,(,E<5,&:%&9(?H$55G?3&#$5;?&
@=,&%=E,:;%E&?&,59%B?&>,&E%:?A(%&=E%&#,J&@=,&%E96$%E&%5&F?:>$BC,5&
H"5$F%5 & , & E,:;%$53 & >%:>? & % & $E9(,55G? & >, & H=:F$?:%( & F?E? & =E% & H?(E% & >,&
9(?;,BG?&%?&%>?,F$E,:;?L
.;<;=>;?@AB;=Cc & ;(%A%6D? & >?F,:;,3 & ;(%:5;?(:?5 & E,:;%$53 & 5%M>, & >?&
9(?H,55?(%>?L&
,6L,56%A%?U*E%$6LF?E
;?E%5$,;U*E%$6LF?E
X%(A%5L#$,$(%U*E%$6LF?E
>=%(;,E%(;$:5:,$%U*E%$6LF?E
*%(F$%E%($%E%:=,6%U*E%$6LF?E
#,(%LA%6$:D%5U*E%$6LF?E
H>%5$6#%%6$:,UD?;E%$6LF?E
;%E$:D%LH,;;,(U;,((%LF?ELA(
","'p
*'*G*06*45-'(-#'.!-:!*%*#'("'.F#@:!*(3*45-'"'-'#"3'
6%.*2)-'&*'(-2Z&26*'"'&*'.!-(345-'26"&)O762*'(*'
3&6G"!#6(*("'+!*#60"6!*
'%("6$%&)?:5,F%&.1:43&4(%5$67
\?G?&),((,$(%&>,&_6$#,$(%&.1)23&4(%5$67
Z,5=E?c & _ & 9(,5,:;, & ;,N;? & (,H6,;, & 5?A(, & ? & 9(?F,55? & >, & (,*=6%BG? & ,&
5=9,(#$5G? & >? & /5;%>? & :? & ;?F%:;, & %? & ,:5$:? & 5=9,($?( & A(%5$6,$(?3 & >%:>?&
,59,F$%6 & %;,:BG? & %? & F%5? & >% & 9P5<*(%>=%BG?L & V?E & A%5, & ,E & 9,5@=$5%&
>?F=E,:;%6&,&,E&(,5=6;%>?5&>,&,5;=>?5&;,P($F?5&,&,E9"($F?53&,N%E$:%&5,&?&
5$5;,E% & >, & %#%6$%BG? & 5?A & % & (,59?:5%A$6$>%>, & >% &V??(>,:%BG? & >,&
89,(H,$B?%E,:;? &>, &Q,55?%6 &>,&b"#,6 &K=9,($?(&.V%9,57& %(;$F=6%<5, &F?E&%5&
%BC,5&>,&*,5;G?&,&96%:,X%E,:;?&>?5&9(?*(%E%5&>,&9P5<*(%>=%BG?3&>,&E?>?&
%&9(,5,(#%(&%=;?:?E$%&>?5&9(?*(%E%5&,&%&9(?E?#,(&%&@=%6$>%>,&>?5&F=(5?5L&
8 & %:W6$5, & 6?*(?= & ;,F,( & %6*=E%5 & (,H6,NC,5 & 5?A(, & ?5 & H%;?(,5 & 9?6";$F?5 & @=,&
$:>=J,E & ^ & @=%6$>%>, & >% & 9(?>=BG? & %F%>OE$F%3 & ,3 & %$:>%3 & %9(,5,:;%( & ;,5,5&
$:$F$%$5 &9%(% &? &>,A%;,L& V?:F6=$ &@=, & %& %#%6$%BG? & >%& 9P5<*(%>=%BG?3 & 5,E &%&
F?E9(,,:5G? & 9(?H=:>% & >, & 5,=5 & 5$*:$H$F%>?53 & 9?>, & 9(?>=J$( & =E% & 9(W;$F%&
$E9(?H"F=%&,E&@=,&%&F?E9,;$BG?&5,&5=9,(9C,&^&%:W6$5,&>$%*:P5;$F%&,&@=,&
9($#$6,*$%&%&9(?>=BG?&>,&F?:D,F$E,:;?5&,5;(%;,*$F%E,:;,&#?6;%>?5&9%(%&?&
>,5,:#?6#$E,:;? & ,F?:pE$F?3 & ,E & >,;($E,:;? & >% & 5=% & %96$F%BG? & 9%(% & ?&
>,5,:#?6#$E,:;?&5?F$%6&>?&Q%"5L&&
.;<;=>;?@AB;=Cc&Z,*=6%BG?&>%&9P5<*(%>=%BG?3&%#%6$%BG?3&%=;?:?E$%&
$:5;$;=F$?:%6L&
E%($6$%5H?:5,F%U*E%$6LF?E
X?%?H?U;,((%LF?ELA(
*'7-!%*45-'(-2"&)"'#-+'*'F)62*'(-'.!-7"##-!'(*'"(32*45-'
#3."!6-!
'%($,6>%&),((,$(%&Q(YXE%&.1S)QZ3&4(%5$67
8 & H?(E%BG? & F?:;$:=%>% & >? & 9(?H,55?( & R & F?:>$BG? & H=:>%E,:;%6 & 9%(% & =E%&
%;=%BG?&9(?H$55$?:%6&@=,&%;,:>%&%5&>,E%:>%5&5?F$%$5&#$*,:;,5L&Q%(;,<5,&>?&
9(,55=9?5;? & @=, & ? & >,5,:#?6#$E,:;? & F?:;":=? & >? & 9(?H,55?( & H%J & 9%(;, & >%&
:%;=(,J% & >? & 5,= & 9(P9($? & ;(%A%6D? & , & @=, & % & & H?(E%BG? & >?F,:;, & 9?>,&
9?55$A$6$;%(&@=,&?&9(?H,55?(&F?E9(,,:>%&,&%:%6$5,&?&5,=&;(%A%6D?L&ƒ&:,55,&
5,:;$>? & @=, & ,5;% & $:#,5;$*%BG? & A=5F% & ,:;,:>,( & @=%6 & % & 9,(F,9BG? & @=, & ?&
9(?H,55?( & >% & ,>=F%BG? & 5=9,($?( & ;,E & ,E & (,6%BG? & %? & 5,= & 9(?F,55? & >,&
H?(E%BG? & $:$F$%6 & , & F?:;$:=%>%L & _5 & >%>?5 & H?(%E & F?6,;%>?5 & , & %:%6$5%>?5&
F?:5$>,(%:>? & % & %A?(>%*,E & @=%6$;%;$#% & F?E? & 9(,55=9?5;? & ;,P($F? & ,&
E,;?>?6P*$F?&,&%&,:;(,#$5;%&5,E$<,5;(=;=(%>%&F?E9p5&%&,;%9%&>,&F?6,;%&>,&
>%>?5L&_5&>%>?5&$:>$F%E&@=,&%&H?(E%BG?&>?&9(?H,55?(&>%&,>=F%BG?&5=9,($?(&
:,F,55$;% & >, & 9(?9?5;%5 & $:5;$;=F$?:%$5 & , & >, & 9?6";$F%5 & 9MA6$F%5 & >,5;$:%>%5 & %&
5=%&,H,;$#%BG?T&@=,&%&H?(E%BG?&>,&=E&9(?H$55$?:%6&(,H6,N$#?&,&F(";$F?&,5;W&
5,:>? & ,:;,:>$>? & F?E? & =E & 9(?F,55? & F?6,;$#? & @=, & ,:#?6#, & ? & 9(P9($?&
9(?H,55?(3 & %5 & $:5;$;=$BC,5 & H?(E%>?(%5 & , & %5 & 9,55?%5 & @=, & F?E9%(;$6D%E & ?&
%EA$,:;, & >, & %;=%BG? & 9(?H$55$?:%6T & , & @=, & ,55% & H?(E%BG? & ,5;W & %;(,6%>% & %?&
,:;,:>$E,:;? & >%5 & (,6%BC,5 & ,:;(, & ,:5$:? & , & %9(,:>$J%*,EL & _ & ;,E% & >,&
$:#,5;$*%BG?&5?6$F$;%&@=,&H?(E%BG?&F?:;$:=%>%&>?&9(?H,55?(&?F?((%&9?(&E,$?&
>,&%;$#$>%>,5&5$5;,EW;$F%5&@=,&9?55$A$6$;,E&?&5,=&,:;,:>$E,:;?3&(,H6,NG?&,&
%9(,:>$J%*,EL
.;<;=>;?@AB;=C8&>?FO:F$%&-&H?(E%BG?&-&,>=F%BG?&5=9,($?(L
E%($,6>%U=;H9(L,>=LA(
*'7-!%*45-'."(*:F:62*'.*!*'*'(-2Z&26*'3&6G"!#6)I!6*'&-#'
)!*+*01-#'*.!"#"&)*(-#'&*#'!"3&69"#'*&3*6#'(*'*&."(8'
SC>mTRT']aaa@]aa`
+,(%&!=F$%&4%JJ?&.1)KV3&4(%5$67
'%($%&>%&26?($%&K$6#%&,&K$6#%&.1beK1!0KV3&4(%5$67
&
8 & 9,5@=$5% & ;(%;% & >?5 & ;,N;?5 & >?5 & ;(%A%6D?5 & , & 9p5;,(,5 & %9(,5,:;%>?5 & :%5&
Z,=:$C,5&8:=%$5&>%&855?F$%BG?&b%F$?:%6&>,&QP5<*(%>=%BG?&,&Q,5@=$5%&,E&
/>=F%BG?&.8bQ/[7&>,&ijjj&%&ijjt&(,6%F$?:%>?5&%&9(?F,55?5&>,&H?(E%BG?&
9,>%*P*$F%&9%(%&%&>?FO:F$%&=:$#,(5$;W($%L&e:$F$%6E,:;,3&H?(%E&$>,:;$H$F%>?53&
,:;(,&?5&;,N;?5&9=A6$F%>?5&:?&5";$?&>%&8bQ/[3&?5&kh&;(%A%6D?5&@=,&;$:D%E&
F?E?&;,E%&%&>?FO:F$%&=:$#,(5$;W($%&,&H?(%E&%9(,5,:;%>?5&:?&9,("?>?&,E&
@=,5;G?L & 8 & 6,$;=(% & >?5 & ;(%A%6D?5 & 9,(E$;$= & #,($H$F%( & @=, & ,5;,5 & 5,&
F?:F,:;(%(%E&:%5&5,*=$:;,5&;,EW;$F%5c&$7L&%&%#%6$%BG?&>%&%9(,:>$J%*,E&:%&
,>=F%BG?&5=9,($?(T&$$7L&%5&,5;(%;R*$%5&>$>W;$F%5&:%&5%6%&>,&%=6%&=:$#,(5$;W($%T&
$$$7L & % & >?FO:F$% & ,E & F=(5?5 & >, & 6$F,:F$%;=(%T & $#7L & 5%A,(,5 & , & ;(%X,;P($%5&
F?:5;$;=$:;,5 & >% & >?FO:F$%T & , & #7L & 9?6";$F%5 & $:5;$;=F$?:%$5 & >, & H?(E%BG?&
9,>%*P*$F% & #?6;%>%5 & % & >?F,:;,5 & >% & ,>=F%BG? & 5=9,($?(L & K,6,F$?:%:>?&
5?E,:;, & ?5 & ;(%A%6D?5 & @=, & ;(%;%(%E & >,5;, & M6;$E? & ;,E%3 & FD,*?=<5, & % & =E&
F?:X=:;?&H$:%6&>,&ij&;(%A%6D?5&9=A6$F%>?5L&_5&(,5=6;%>?5&E?5;(%E&%=E,:;?&
5$*:$H$F%;$#?&>%&@=%:;$>%>,&>,&;(%A%6D?5&5?A(,&?&;,E%&:?&9,("?>?&>,&ijjs&%&
ijjt3 & ,E & (,6%BG? & %? & 9,("?>? & >, & ijjj & % & ijjg3 & ,#$>,:F$%:>? & E%$?(&
9(,?F=9%BG? & F?E & % & ?H,(;% & @=%6$H$F%>% & >, & H?(E%BG? & 9,>%*P*$F% & E,>$%:;,&
9(?F,55?5 & $:;,:F$?:%$5 & >$59?:$A$6$J%>?5 & %?5 & >?F,:;,5 & =:$#,(5$;W($?5 & 9,6%5&
$:5;$;=$BC,5&^5&@=%$5&,5;G?&#$:F=6%>?5L&
.;<;=>;?@AB;=Cc&H?(E%BG?3&>?FO:F$%3&=:$#,(5$>%>,L
#A%JJ?UF,>L=H5FLA(
*6?($%L5$6#%U=:$5=6LA(
*06"&*45- ' &- ' )!*+*01- ' (-2"&)"Q ' - ' .!-7"##-! ' &- ' 2"&)!-'
(*#'2-&)!*(649"#K
[,:$5,&!,E?5&.1)483&4(%5$67
_&?AX,;$#?&*,(%6 &>?&,5;=>?&R &%:%6$5%( &? &9(?F,55? &>, &;(%A%6D? &>?F,:;, &:?&
]EA$;? & >% & 1:$#,(5$>%>, & ),>,(%6 & >% & 4%D$% & 4(%5$63 & :? & F?:;,N;? & >%5&
;(%:5H?(E%BC,5&?9,(%>%5&^&6=J&>%5&9?6";$F%5&:,?6$A,(%$5&>?&,5;%>?3&A=5F%:>?&
$>,:;$H$F%(&5,&,N$5;,&%&F?:H$*=(%BG?&>,&=E&9(?F,55?&>,&%6$,:%BG?&>?&;(%A%6D?&
>?F,:;,3&%&>,59,$;? &>, &5,(&=E&;(%A%6D?3 &F=X?&?AX,;$#? &R&,E%:F$9%( &?&5,(&
D=E%:?L&V%(%F;,($J%&?&9(?F,55?&>,&H6,N$A$6$J%BG?&,&9(,F%($J%BG?&>?&;(%A%6D?3&
%&9%(;$(&>%&$E96%:;%BG?&9(?*(,55$#%&>,55%5&9?6";$F%5&:?&,:5$:?&5=9,($?(3&@=,&
%;$:*,E & >, & H?(E% & 5$*:$H$F%;$#% & ? & 9%9,6 & >% & 1:$#,(5$>%>, & >, & 9(?>=;?(% & >?&
F?:D,F$E,:;?L&_&,5;=>?&>,E?:5;(%&@=,&?&9(?H,55?(&>%&1)48&5,&,:F?:;(%&:?&
F,:;(?&>%&F?:;(%>$BG?&>%&F($5,&=:$#,(5$;W($%&:?&E?E,:;?&,E&@=,&5,&9,(F,A,&
F?E&96,:%&%=;?:?E$%&,&:G?&9,(F,A,&?5&E,F%:$5E?5&F(,5F,:;,5&>,&F?:;(?6,&
$:5;$;=F$?:%63&F?:H$*=(%:>?&%&%6$,:%BG?&:?&;(%A%6D?&>?F,:;,&
.;<;=>;? ' AB;=Cc& ;(%A%6D? &>?F,:;,3& %6$,:%BG?3 & %=;?:?E$%3 &H6,N$A$6$J%BG? &,&
9(,F%($J%BG?&>?&;(%A%6D?L
>,:$5,6,E?5sjUD?;E%$6LF?E
*#'."#L36#*#'#-+!"'-')!*+*01-'(-2"&)"'#3."!6-!'&*'7!*&4*'
f'*.-!)"#'.*!*'*#'."#L36#*#'&-'+!*#60
/E$6$%&Q,$N?;?&+$,$(%&.)%F=6>%>,&>,&/>=F%BG?&0&1:$F%E93&4(%5$67
_&?AX,;$#?&>,55,&;(%A%6D?&R&%9(,5,:;%(&?5&,5;=>?5&5?A(,&%5&F?:>$BC,5&>,&
;(%A%6D? & >?5 & 9(?H,55?(,5<9,5@=$5%>?(,5 & :%5 & =:$#,(5$>%>,5 & H(%:F,5%5L & S%6&
9,5@=$5%&R&H(=;?&>,&=E&,5;W*$?&>,&$:;,(F]EA$?&>,&>?=;?(%E,:;?&,:;(,&4(%5$6&
, & )(%:B%3 & >,5,:#?6#$>? & ,:;(, & %5 & =:$#,(5$>%>,5 & 1:$F%E9 & - & KG? & Q%=6? & , & %&
1:$#,(5$>%>, & \=6,5 & +,(:,3 & Q$F%(>$, & - & :?(;, & >% & )(%:B%L & _ & (,5=6;%>? & >?&
;(%A%6D?&H$:%6&R&=E%&;,:;%;$#%&>,&F?E9%(%BG?&,:;(,&,55,5&>?$5&9%"5,5&5?A(,&
% & (,H?(E% & >% & ,>=F%BG? & 5=9,($?( & ,E & F=(5? & , & % & (,9,(F=55G? & 9%(% & %5&
F?:>$BC,5&>,&;(%A%6D?&>?5&9(?H,55?(,5&>%5&=:$#,(5$>%>,5&9MA6$F%5L&&
.;<;=>;?@AB;=C8&,:5$:?&5=9,($?(3&;(%A%6D?&>?F,:;,L
,E$6F%(6U;,((%LF?ELA(
2-&2".49"#'#-+!"')!*+*01-'(-2"&)"'&*'3&6G"!#6(*("8'&*'
G6#5-'(-#'.F#@:!*(3*&(-#'(-#'23!#-#'(*'#*$("'(*'37!:#
Kp:$%&Z,*$:%&K$6#%&Q,>(?5?&.)8V/[01)Z2K3&4(%5$67
/5;,&%(;$*?&?($*$:%<5,&>%&$:;,((?*%BG?&@=,&:%5F,&:?&$:;,($?(&>%&5%6%&>,&%=6%&
>%&>$5F$96$:%&>,&Q(W;$F%&/>=F%;$#%&,E&',>$F$:%&>%&1:$#,(5$>%>,&),>,(%6&>?&
Z$? & 2(%:>, & >? & K=6 & .Q/'0& QQ2V%(>$?01)Z2K73 & F?E & ? & @=,5;$?:%E,:;? & H,$;?&
9,6?5&%6=:?5&%&F%>%&:?#?&5,E,5;(,c&`)?(E%BG?&Q,>%*P*$F%&Q%(%&@=Of&bG?&
K?E?5&Q(?H,55?(,5L &bG? &/>=F%E?5 &b$:*=RE•a&/&%$:>%3&>%5&F?:F,9BC,5 &,&
>%5&9(W;$F%5&>?5&%6=:?5&>=(%:;,&%5&%=6%5L&/5;%&>$5F=55G?&#$5%&9=A6$F$J%(&%5&
(,H6,NC,5&5?A(, &%5&F?:F,9BC,5 &>,&;(%A%6D?&>?F,:;,&,E&5%M>,&%&9%(;$(&>%&
#$5G? &>?5&9P5<*(%>=%:>?5&>%&>$5F$96$:%&Q/'3&:?&9,("?>?&>,&ijjj&%&ijmjL&
[,55%5 & $:@=$,;%BC,5 & ,E,(*,E & ,5;(%;R*$%5 & 9%(% & ?A;,( & (,59?5;%5c&
?A5,(#%BC,5&,&(,*$5;(?&>%5&%=6%5&9(,5,:F$%$5&?=&#$(;=%$5&,&9%(;$F$9%BC,5&,E&
,#,:;?5&F$,:;"H$F?5&>%&W(,%L&/55%&E,;?>?6?*$%&%=N$6$%&%&;,F,(&%&?($*,E&>%5&
F?:F,9BC,5&>,&;(%A%6D?&>?F,:;,&,&%&$>,:;$H$F%(&?5&,E9,F$6D?5&,&(,5$5;O:F$%5&
^5&E=>%:B%5&-&;%$5&F?E?c&9(W;$F%5&,>=F%;$#%5&;,F:$F$5;%53&H(%*E,:;W($%5&,&
>,5F?:,F;%>%5&>%&(,%6$>%>,&5?F$%6&A(%5$6,$(%3&F?E?&>$55?F$%BG?&,:;(,&;,?($%&
, & 9(W;$F%3 & O:H%5, & :% & ;(%:5E$55G? & >? & F?:D,F$E,:;? & >? & 9(?H,55?(T&
>,5#%6?($J%BG?&>?&F?:D,F$E,:;?&>%&,>=F%BG?&H(,:;,&%?&>%&5%M>,T&,3&:G?&#,(&
% & ,>=F%BG? & :% & 5%M>,L & 8 & 9,5@=$5% & ;%EARE & 5=A5$>$% & =E% & E%$?( & (,H6,NG?&
5?A(,&%5&:,F,55$>%>,5&>,&H?(E%BG?&9%(%&%&(,%6$J%BG?&>?&;(%A%6D?&>?F,:;,&
=:$#,(5$;W($?&:?5&F=(5?5&>%&5%M>,L
.;<;=>;?@AB;=Cc & S(%A%6D? & [?F,:;, & ,E & K%M>, & - & />=F%BG? & < & Q(W;$F%&
/>=F%;$#%&,E&K%M>,L
5?:$%9,>(?5?UY%D??LF?ELA(
("+*)"#J'.-0O)62*#J'!":30*26-&"#'b'#"&)6(-#'("0')!*+*,-'("'
0-#'(-2"&)"#'3&6G"!#6)*!6-#K'*0:3&*#'&-)*#'#-+!"'"0'2*#-'
*!:"&)6&'%("%&\?5R&!%=(,:;,&.1bV?<)8V/7
Q%=6%&/E%&Q,:%5&.1bV?<)8V/7
/5;% & 9?:,:F$% & ,N9?:, & %6*=:%5 & (,H6,N$?:,5 & Y & >,A%;,5 & 5?A(, & 6%&
>$(,FF$?:%6$>%>&>,&6%5&9?6";$F%5&9%(%&6%&1:$#,(5$>%>&,:&8(*,:;$:%3&>,5>,&6%&
>RF%>%&>,6&Œtj&D%5;%&:=,5;(?5&>"%53&D%F$,:>?&,59,F$%6&(,H,(,:F$%&%6&$E9%F;?&
9(?>=F$>?&,:&6%5&F?:>$F$?:,5&E%;,($%6,5&Y&5$EAP6$F%5&@=,&D%:&;,:$>?&5?A(,&
,6&;(%A%X?&@=,&(,%6$J%:&6?5&>?F,:;,5&=:$#,(5$;%($?5L&Q%(;$E?5&>,&F?:5$>,(%(&
@=,&6%5&9?6";$F%5&@=,&(,E?>,6%(?:&6%&=:$#,(5$>%>&,:&:=,5;(?&9%"53&%&;?:?&F?:&
6%&Z,H?(E%&>,6&/5;%>?3&H=,(?:&>,6$:,%:>?&=:&•:=,#?&,5;$6?•&>,&F?:F,A$(&,6&
;(%A%X? & >?F,:;, & ,: & 6% & =:$#,(5$>%>3 & %(;$F=6%>? & F?: & =:% & (,>,H$:$F$P: & >, & 6%5&
H=:F$?:,5&@=,&D$5;P($F%E,:;,&D%&F=E96$>?&,5;%&$:5;$;=F$P:&,:&6%&8(*,:;$:%T&
9?6";$F%5&@=,&5?:&5$*:$H$F%>%53&%5=E$>%53&$*:?(%>%5&?&(,$:;,(9(,;%>%5&9?(&6?5&
>?F,:;,5 & >, & >,;,(E$:%>%5 & E%:,(%5L & e:;,:;%E?5 & %5" & ;(%J%( & %6*=:?5 & D$6?5&
F?:>=F;?(,5 & 9%(% & F?E9(,:>,( & 6% & 9(?H=:>$>%> & >,6 & %6F%:F, & >, & 6%5&
(,>,H$:$F$?:,5 & ?9,(%>%5 & ,: & ,6 & :=,#? & E?>,6? & , & $>,:;$>%> & >, & 6%5&
=:$#,(5$>%>,53&,:&=:&E?#$E$,:;?&F?E96,X?&Y&>$%6RF;$F?&F?:&6?5&9(?F,5?5&>,&
F?:5;$;=F$P:&>,&5=AX,;$#$>%>,5&>,&6?5&5=X,;?5&>?F,:;,5L&/5;,&%A?(>%X,&@=,&
F?:5$>,(%&6?5&%59,F;?5&5=AX,;$#?50?AX,;$#?5&,:&=:&,:;(%E%>?&>$%6RF;$F?3&:?5&
9,(E$;, & $( & %(;$F=6%:>? & 5$*:$H$F%>?5 & @=, & 6?5 & >?F,:;,5 & 6, & ?;?(*%: & % & 5=&
Œ@=,D%F,( & F?;$>$%:?}3 & 9,(? & ;%EA$R: & A=5F%( & 6?5 & %:F6%X,5 & E%;,($%6,5 & ,: & 6%5&
F?:>$F$?:,5&?AX,;$#%5&,:&6%5&@=,&>,5,:#=,6#,:&5=5&#$>%5L
.;<;D>;? ' A<;=C8& S(%A%X? & >?F,:;,3 & [?F,:;,5 & =:$#,(5$;%($?53 & V?:>$F$?:,5&
E%;,($%6,5
E%($X?6%=(,:;,UY%D??LF?EL%(
9%=6%9,:%5UD?;E%$6LF?E
N(6%"&#6F&'("0')!*+*,-''(-2"&)"'"&'0*'3&6G"!#6(*('("#("'0*'
-+!*'("'%"(*!(-'G6)6"!8')!*#2"&("&26*'.*!*'
0*)6&-*%_!62*NK
/6?":%&bMl,J&!P9,J&.1QZ3&4(%5$67
&
!,&F?((,59?:>,&%&6%&1:$#,(5$>%> &,:&,6&F?:;,N;?&6%;$:?%E,($F%:?&$:H6=$(&>,&
H?(E%&9(?;%*P:$F%&,:&6%5&;(%:5H?(E%F$?:,5&5?F$%6,5&Y&>,&9,:5%E$,:;?&,:&,6&
,:;?(:? & ,: & @=, & 5, & >,5%((?66%:L & I?Y & >"%3 & %:;, & 6% & %E,:%J% & >, & 6%&
*,:,(%6$J%F$P:&>,&6%&F=6;=(%&*6?A%6$J%>%&=:$#,(5%63&@=,&9(,;,:>,&$E9?:,(&6%&
>,5%9%($F$P: & >, & 6%5 & F=6;=(%5 & :%F$?:%6,53 & F?E? & =: & H,:PE,:? & E=:>$%63 & ,6&
,5;=>$?&>,&6%&>$E,:5$P:&>,6&;(%A%X?&>?F,:;,&,:&6%&1:$#,(5$>%>&>,5>,&6%&?A(%&
>, & ',>%(>? & +$;$,(.mvvk<mtkj7 & (,#$5;, & ,: & E$ & F($;,($?3 & =:% & ,N;(%?(>$:%($%&
5$*:$H$F%F$P:&:?&5?6?&9%(%&V=A%&5$:?&;%EA$R:&9%(%&!%;$:?%ER($F%L&Q(,5;$*$?5%&
H$*=(% & >, & 6% & $:#,5;$*%F$P: & H$6?5PH$F% & ,: & V=A%3 & *(%: & E%,5;(? & 9?( & #?F%F$P:3&
?H$F$?&Y&E$5$P:3&=:&,:5%Y$5;%&F?:&%6E%&H$6?5PH$F?<9,>%*P*$F%3&F(";$F?3&5=&?H$F$?&
Y & E$5$P: & ,:F=,:;(%: & F?:F(,F$P: & F?E? & '%,5;(? & >, & '%,5;(?5 & @=, & 5%A,&
5,EA(%(&5,E$66%5&>,&F=A%:"%&Y&>,&D=E%:$>%>L&8=;?(&>,&:=E,(?5?5&6$A(?5&Y&
%(;"F=6?5L & /6 & %:W6$5$5 & >, & 6% & 9(?A6,EW;$F% & >,6 & ;(%A%X? & >?F,:;, & ,: & 5= & ?A(%3&
E=,5;(%&>,&H?(E%&?(*W:$F%&5=&$EA($F%F$P:&F?:&,6,E,:;?5&F%(>$:%6,5&;%6,5&
F?E?c&,6&;(%;%E$,:;?&>,&6?5&H$:,5&>,&6%&,>=F%F$P:3&6%&$:;,(F?:,N$P:&F?:&,6&
F?:;,N;?&5?F$%63&6%&#$:F=6%F$P:&>,&6%&)$6?5?H"%&F?:&6%&Q,>%*?*"%3&,:;(,&?;(?5&L&
!%5&(,H6,N$?:,5&@=,&9(,;,:>,E?5&F?E9%(;$(&,:&,5;%&9?:,:F$%3&5?:&#W6$>%5&:?&
5P6?&9%(%&V=A%3&5$:?&;%EA$R:&9%(%&6?5&9=,A6?5&6%;$:?%E,($F%:?5L&
.;<;D>;?'A<;=C?c&,>=F%F$P:3&=:$#,(5$>%>3&+$;$,(L
:6,6?$:%UHF5DL=9(L,>=LF=
(-2Z&26*'(-'"&#6&-'#3."!6-!8'#*+"!"#J'7-!%*45-'"'6&203#5-'
"#2-0*!
8:%&V6%(%&2?E,5&<&.1)13&4(%5$67&
V($5;$%:,&>%&K$6#%&K%:;?5&<&.1:$#,(5$>%>,&),>,(%6&>,&V%;%6G?3&4(%5$67
+$#$%:,&Q(%>?&4=$%;;$&'%(B%6&<&.1:$#,(5$>%>,&),>,(%6&>,&1A,(6]:>$%&<&V%E9=5&
Q?:;%63&4(%5$67
_ & 9(,5,:;, & ,5;=>? & ?AX,;$#?= & $>,:;$H$F%( & 9(W;$F%5 & 9,>%*P*$F%53 & 5%A,(,5&
E?A$6$J%>?5&9,6?5&9(?H,55?(,5&:?&/:5$:?&K=9,($?(&>?&V=(5?&>,&Q,>%*?*$%L&_&
*(=9?&9,5@=$5%>?&#%6?($J%&?5&5%A,(,5&>?&F?:;,M>?3&E%5&;%EARE&%6$%>?&%&
,5;,5&%;($A=$&$E9?(;]:F$%&%?5&5%A,(,5&9,>%*P*$F?5L&V?E&(,6%BG?&^&H?(E%BG?&
%#,($*=?=<5, & @=, & ,N$5;,E & 6%F=:%5 & 9?6";$F%53 & >$(,;($J,5 & , & 6,*$56%BG? & @=,&
%55,*=(, & % & H?(E%BG? & , & F%9%F$;%BG? & 9,>%*P*$F% & 9%(% & %;=%BG? & >?F,:;,&
>$%:;,&%5&,N$*O:F$%5&>%&F?:;,E9?(%:,$>%>,&@=,&5,&(,6%F$?:%E&;%EARE&%?&
9(?F,55?&>,&$:F6=5G?&^5&>$H,(,:B%5&@=,&>,6$:,$%E&?&F?:;,N;?&,5F?6%(L&b,5;,&
5,:;$>?3 & % & >$5F=55G? & 5, & #?6;% & 9%(% & % & :,F,55$>%>, & >, & $:5;$;=$( & H?(E%BG?&
F?:;":=%&>?&9(?H,55?(&=:$#,(5$;W($?L
.;<;=>;?'AB;=C8&/:5$:?&K=9,($?(3&S(%A%6D?&[?F,:;,3&Q(W;$F%5&9,>%*P*$F%5
(-2Z&26*'f'.!-76##5-'("'6&)"!*45-v
'%(%&Z,*$:%&Z?5%&Z$A,$(?&.1)'S3&4(%5$67
'%($%&I,6,:%&S(,:FD&V$%E9?:,&.//1KQ3&4(%5$67
_ & Q,:5%E,:;? & V?E96,N? & H?$ & ? & (,H,(,:F$%6 & ,9$5;,E?6P*$F? & %>?;%>?3 & , & ?&
/5;=>?&>,&V%5?&%&?9BG?&E,;?>?6P*$F%L&85&;RF:$F%5&>,&F?6,;%&>,&>%>?5&H?(%E&
8:W6$5, & [?F=E,:;%63 & _A5,(#%BG? & Q%(;$F$9%:;, & , & /:;(,#$5;%5 & K,E$<
,5;(=;=(%>%5&F?E&*,5;?(,53&9(?H,55?(,5&,&%6=:?5L&8&F?6,;%&>,&>%>?5&?F?((,=&
,:;(, & H,#,(,$(?0ijjo & , & H,#,(,$(?0ijjvL & [% & %:W6$5, & (,%6$J%>% & ,E,(*$(%E&
F%;,*?($%5&,E9"($F%53&%&5%A,(&<&K,:;$>?5&%;($A=">?5&^&$:;,(%BG?T&_&,:;?(:?&
>%5 & e:;,(%BC,5T & , & /5;(%;R*$%5 & >, & .K?A(,7+$#O:F$%L & 85 & F%;,*?($%5 & %:%6";$F%5&
>,H$:$>%5&%&9($?($&H?(%E&-&!,$;=(%&I?6?*(%EW;$F%3&!,$;=(%&Z,F=(5$#%3&!,$;=(%&
[$%6P*$F%L & 85 & ,5;(%;R*$%5 & >, & .5?A(,7#$#O:F$%3 & %9(,5,:;%E<5, & F?E? & %&
,55O:F$%&>%&,N9,($O:F$%&$:#,5;$*%>%3&,&F?:5$5;,E&,E&5&$5;,E%5&>,&>,H,5%&,&
%>%9;%BG?3 & =;$6$J%>?5 & 9%(% & E$;$*%( & 5?H($E,:;?53 & $:F,(;,J%5 & , & %:5$,>%>,5&
*,(%>?5 & 9,6? & 5,( & >?F,:;, & , & %F%>OE$F? & :? & 6?F%6 & ,5;=>%>?L & 85 & $:;,(%BC,5&
9,(E,$%E&?&9(?F,55?&,:5$:?&%9(,:>$J%*,E&,&>,&%#%6$%BG?3&,&$:;,(H,(,E&:?5&
(,5=6;%>?5&;%:;?&,E&:"#,6&$:>$#$>=%6&F?E?&F?6,;$#?L&_5&(,5=6;%>?5&%9?:;%E&
9%(% & % & :,F,55$>%>, & >, & ;,F,( & E%6D%5 & >, & F?(>$%6$>%>,3 & 5?6$>%($,>%>, & ,&
F?E9(,,:5G?&:?&*(=9?&,5;=>%>?3&,&>,&(,%6$J%(&$:#,5;$E,:;?5&:%&H?(E%BG?&
>?F,:;,3&,E&,59,F$%6&:?5&%59,F;?5&(,6%;$#?5&^&F?E9,;O:F$%&(,6%F$?:%6L
.;<;=>;'AB;=C8&[?F,:;,3&e:;,(%BG?3&H?(E%BG?&>?F,:;,
E((($A,$(?U;,((%LF?ELA(
EDF$%E9U=59LA(
"7"2)-#'("0'&"-06+"!*06#%-'"(32*)6G-'"&'"0')!*+*,-'
*2*(_%62-8'"0'2*#-'("'%_H62Š=($&\$ER:,J&bWX,(%&.1Qb3&'RN$F?7
!% & $:5;%=(%F$P: & >,6 & ?(>,: & Œ:,?6$A,(%6} & ,: & 8ER($F% & !%;$:% & Y & ,6 & E=:>?3 & D%&
9(?#?F%>? & 6% & (,,5;(=F;=(%F$P: & >, & 6?5 & 5$5;,E%5 & :%F$?:%6,5 & >, & ,>=F%F$P:&
5=9,($?( & Y & 5= & (,H=:F$?:%6$J%F$P:3 & 9(,5$?:%>?5 & 9?( & 6%5 & R6$;,5 & ,F?:PE$F%5 & Y&
9?6";$F%5 & 9%(% & %>?9;%( & 6% & 6P*$F% & >,6 & E,(F%>?3 & >,5>, & 6% & F=%6 & 5, & #, & % & 6%&
,>=F%F$P: & F?E? & =: & `A$,: & 9($#%>?a & 9%(% & H$:,5 & >, & 6=F(?3 & 6? & @=, & D% & ;,:$>?&
>$#,(5%5&(,9,(F=5$?:,5&,:&,6&;(%A%X?&%F%>RE$F?L&
Q%(;$F=6%(E,:;,3 & ,6 & :=,#? & ?(>,: & Œ:,?6$A,(%6} & D% & ;,:$>?3 & F?E? & =:? & >, & 5=5&
,H,F;?53&6%&Œ(,%>%9;%F$P:}&>,6&;(%A%X?&%F%>RE$F?&%&6%5&:,F,5$>%>,5&>,6&Œ6$A(,&
E,(F%>?}3&6?&@=,&D%&$E96$F%>?&5=&F(,F$,:;,&5?E,;$E$,:;?&%&6%5&,N$*,:F$%5&
>, & 6?5 & ,E96,%>?(,5 & Y & % & 6?5 & $E9,(%;$#?5 & >, & 6%5 & 9?6";$F%5 & ,5;%;%6,5&
ŒE?>,(:$J%>?(%5L
/:&,6&F%5?&>,&'RN$F?3&6%&$:5;%=(%F$P:&>,6&E?>,6?&>,&E,(F%>?&%&6%&,>=F%F$P:&
5=9,($?(&.%&9%(;$(&>,&mtvi73&D%&9(?#?F%>?3&,:;(,&?;(%5&F?5%53&5=&F(,F$,:;,&
9($#%;$J%F$P:3&5,*E,:;%F$P:3&H6,N$A$6$J%F$P:&Y&(,H=F$?:%6$J%F$P:3&%H,F;%:>?&>,&
>$#,(5%5&H?(E%5&%6&D,;,(?*R:,?&5,F;?(&>,&;(%A%X%>?(,5&%F%>RE$F?53&%&;(%#R5&
>, & 5= & H6,N$A$6$J%F$P:3 & 9(,F%($J%F$P:3 & >,5%F,6,(%F$P:3 & (,F?E9?5$F$P:3&
%;?E$J%F$P:3 & ,5;(%;$H$F%F$P:3 & (,F?:#,(5$P:3 & *,:,(%F$P: & >, & %EA$,:;,5&
F?E9,;$;$#?5 & , & $:;,:5$H$F%F$P: & >, & F%(*%5 & 6%A?(%6,53 & %5" & F?E? & ,6&
>,A$6$;%E$,:;?&>,&5=&9?>,(&9?6";$F?<%F%>RE$F?&Y&9(,5;$*$?&5?F$%63&,H,F;?5&@=,&
5?:&;(%;%>?5&,:&6%&9?:,:F$%L
.;<;D>;?'A<;=C8&;(%A%X?&%F%>RE$F?3&,>=F%F$P:&5=9,($?(3&:,?6$A,(%6$5E?&
,>=F%;$#?L
Y=($XU=9:LEN
".O0-:-'("'6&G"#)6:*26F&8'|'.!"#"&26*#'b'*3#"&26*#'"&'0-#'
"#.*26-#')"F!62-#'66
&8*>%L&'%A,6%&Z=$JL&.1:$#,(5$>%>&>,&6%&Z,9MA6$F%L&)%F=6;%>&>,&Q5$F?6?*"%3&
1(=*=%Y7
&2(%F$,6%&Q6%FD?;L&.1:$#,(5$>%>&>,&6%&Z,9MA6$F%L&)%F=6;%>&>,&Q5$F?6?*"%3&
1(=*=%Y7
& +$(*$:$% & )%FD$:,;;$L & .1:$#,(5$>%> & >, & 6% & Z,9MA6$F%L & )%F=6;%> & >, & Q5$F?6?*"%3&
1(=*=%Y7
/5;, & ,9"6?*? & F=,:;%3 & ,:;?:F,53 & =:% & ,N9,($,:F$%c & 6% & 5$:*=6%($>%> & >, & =:&
9(?Y,F;? & >, & $:#,5;$*%F$P: & @=, & ,:#=,6#, & =: & ,59%F$? & >?F,:;, & Y & >,&
,:5,l%:J%c & ,6 & ;,P($F?L & Z,6%;% & 6%& #%6?(%F$P: & @=, & 6, & >%: & 6?5 & >?F,:;,5 & %6&
,59%F$? & ;,P($F? & F?E? & 9(WF;$F% & >, & ,:5,l%:J%L & +%6?(%F$P: & @=, & F?:H$*=(% & 6%&
>$#,(5$>%>&,:&,6&5,(&>?F,:;,3&=:%&96%5;$F$>%>&Y&F?E96,X$>%>&@=,&5,&E?6>,%&,&
$:#,:;% & ,: & F%>% & ,5F,:% & >,6 & ,59%F$? & ;,P($F?L &b%((% & 9$:F,6%>%5 & >, & 6% & #$>%&
9,>%*P*$F%<$:5;$;=F$?:%63&6?&@=,&6,5&9%5%&%&6?5&>?F,:;,53&6%&,N9,($,:F$%&>,&
6?5&>?F,:;,5&,:&6?5&;,P($F?53&,6&6=*%(&>,6&F?:?F$E$,:;?&,:&,5;,&,59%F$?3&6%5&
;,:5$?:,5&#$#$>%53&6?&@=,&6,5&9%5%&%&6?5&,5;=>$%:;,5&>,5>,&6%5&#?F,5&>,&6?5&
>?F,:;,5LLL&[?F,:;,5&@=,&&(,6%;%:&%&6?5&,5;=>$%:;,5&>,&H?(E%&D,;,(?*R:,%3&
9?5$F$?:W:>?6?5 & (,9(,5,:;%F$?:%6E,:;, & ,: & H$*=(%5 & F%EA$%:;,5c & %=>$,:F$%3&
9%(;$F$9%:;,& &%F;$#?&Y&5$6,:F$?5?3&%5$5;,:;,&%=5,:;,3&(,F,9;?(&?&>,#%6=%>?3&
(,6$*$?5?3&>,5,(;?(3&>,E%:>%:;,&>,&6?&=:?3&F(";$F?&,&$E96$F%>?L&!%&H$*=(%F$P:&
EP#$6&>,&5"& &.>?F,:;,7&Y&>,6&?;(?&.,5;=>$%:;,73&,E,(*,:;,&>,&6%&$:;,(%FF$P:&
F?:&,6&F?:?F$E$,:;?L
/9"6?*? & @=, & ,5A?J% & =:% & F?E96,X$>%> & $:5;$;=F$?:%63 & 6% & ;,:5$P: & ,:;(, & ,6&
F=(("F=6?&9(,5F($9;?&Y&,6&F=(("F=6?&,:&%FF$P:L&Q(,5,:F$%&,:&6?5&;,P($F?5&F?:&
%=5,:F$%&>,&6=*%(,5L
S(%E%&>?F,:;,&>,&6%&:?#,6%&9,>%*P*$F%3&;(%E%&>,&,:F=,:;(?53&%=5,:F$%5&Y&
9(,5,:F$%5L&
.;<;D>;? ' A<;=Cc & $:#,5;$*%F$P: & ,>=F%;$#%3 & ,59%F$? & ;,P($F?3 & :?#,6%&
9,>%*P*$F%L
E%A,6%L(=$JU*E%$6LF?EL
E(=$JU95$F?L,>=L=Y
*96%FD?;UD?;E%$6LF?E
#$6?*%imU*E%$6LF?E
=%,U95$F?L,>=L=Y
1*26*'0*'2-&2".26F&'("'2*06(*('"&'0-#''"@#"!G626-#'"&'0-#'
"&)-!&-#'"(32*)6G-#'3&6G"!#6)*!6-#
'%(;D%&Z"?5&'%:("@=,J&-&.1:$#,(5$>%>&>,&2=%:%X=%;?3&'RN$F?7&
V%(E,:&V%5;(,XP:&'%;%-&.1:$#,(5$>%>&>,&2=%:%X=%;?3&'RN$F?7
\=6$%:&),((,(&2=,((%&-&.eLSL&V,6%Y%3&'RN$F?7&
86,X%:>(?&2=,((,(?&-&.eLSL&V,6%Y%3&'RN$F?7
!%&F(,F$,:;,&$E9?(;%:F$%&>,&6%5&;,F:?6?*"%5&>,&6%&$:H?(E%F$P:&(,@=$,(,&@=,&
,6&;(%A%X?&=:$#,(5$;%($?&5,%&(,9,:5%>?&%&,H,F;?&>,&$:F?(9?(%(&A%X?&>$#,(5%5&
9,(59,F;$#%5 & % & 6%5 & E$5E%5L & !% & %F;$#$>%> & %F%>RE$F% & Y & ,6 & 5?9?(;,&
%>E$:$5;(%;$#?3&(,@=$,(,:&>,&96%;%H?(E%5&;,F:?6P*$F%5&@=,&5?:&=;$6$J%>%5&9?(&
E%,5;(?53 & %6=E:?5 & Y & %>E$:$5;(%>?(,5L & K$: & ,EA%(*? & 6% & 9,(59,F;$#% & >,&
F%6$>%> & >, & >$FD%5 & 96%;%H?(E%5 & :? & 5$,E9(, & D% & 5$>? & F?:5$>,(% & A%X? & =:%&
9,(59,F;$#%&$:;,*(%6L&/5;%&F?E=:$F%F$P:&(,9?(;%&,6&,5;=>$?&(,%6$J%>?&,:&=:%&
=:$#,(5$>%>&E,N$F%:%3&,:&6%&F=%6&5,&D%&$:F?(9?(%>?&=:&,5@=,E%&>,&5,(#$F$?5&
,6,F;(P:$F?53 & Y & 6% & ,#%6=%F$P: & >, & 6% & F%6$>%> & 9,(F$A$>% & 9?( & 6?5 & =5=%($?5 & >,&
>$FD?5&5,(#$F$?5L
.;<;D>;?'2<;=C8&S,F:?6?*"%5&>,&e:H?(E%F$P:3&5,(#$F$?5&,6,F;(P:$F?53&
96%;%H?(E%5&,>=F%;$#%5L&E(EijjjENU*E%$6LF?E
F%(5%$5UD?;E%$6LF?E
XH,((,(U$;FLEN
86,X%:>(?*U$;FLEN
M0-#'*2*(_%62-#'*!:"&)6&-#'7!"&)"'*'0-#'("#*7O-#'
*2)3*0"#'("'0*'.!-7"#6F&8'3&'"#)3(6-'#-+!"'0*')"&#6F&'
(-2"&26*'"'6&G"#)6:*26F&N
',(F,>,5&!,%6&.1bS3&8(*,:;$:%7
K,(*$?&Z?A$:&.1bS3&8(*,:;$:%7
'%("%&8>,6%$>%&'%$>%:%&.1bS3&8(*,:;$:%7
!%&,N9,($,:F$%&%(*,:;$:%&>,&6?5&M6;$E?5&#,$:;,&%l?5&,ND$A,&%&6%&9(?H,5$P:&
>?F,:;, & =:$#,(5$;%($% & F?E? & =: & F%E9? & 5?E,;$>? & % & H=,(;,5 & ;,:5$?:,53&
(,5=6;%:;,5 & >,6 & 9(?F,5? & >, & (,H?(E% & >, & 6% & />=F%F$P: & K=9,($?(L & /6&
9,:5%E$,:;? & D,*,EP:$F? & 9(?<E,(F%>? & E?>$H$FP & ,6 & F?:;,N;? & >, & >,5%((?66?&
>,&6%&9(?H,5$P:&Y&%6;,(P&6%5&F?:>$F$?:,5&E%;,($%6,5&Y&5$EAP6$F%5&>,6&;(%A%X?&
>?F,:;, & =:$#,(5$;%($?3 & >%:>? & F?E? & (,5=6;%>? & 6% & ,E,(*,:F$% & >, & :=,#?5&
,5;$6?5&>,&>,5,E9,l?&Y&,5;(%;,*$%5&>,&>,5%((?66?&9(?H,5$?:%6L&!%&9?:,:F$%&
F?E=:$F% & (,5=6;%>?5 & >, & =: & ,5;=>$? & :%F$?:%6 & @=, & 5, & ,:E%(F% & ,: & `SD,&
FD%:*$:* & %F%>,E$F & 9(?H,5$?: & Q(?X,F;a & 66,#%>? & %>,6%:;, & 9?( & =:% & (,> & >,&
=:$#,(5$>%>,5 & >, & im & 9%"5,53 & @=, & ,: & ,6 & F%5? & %(*,:;$:? & $:#?6=F(P & % & vik&
9(?H,5?(,5&>,&>$H,(,:;,5&>$5F$96$:%5&Y&F%E9?5&%F%>RE$F?5&>,&=:$#,(5$>%>,5&
:%F$?:%6,5L&/:&,5;%&?9?(;=:$>%>&:?5&(,H,($(,E?5&%&6%5&H=:F$?:,5&>,&>?F,:F$%&
,&$:#,5;$*%F$P:&%&9%(;$(&>,&6%5&9,(F,9F$?:,5&>,&6?5&9(?H,5?(,5&>,&5=&#":F=6?&
6%A?(%63 & 6% & ?(*%:$J%F$P: & >,6 & ;$,E9? & Y & F?:>$F$?:,5 & >, & ;(%A%X? & %F%>RE$F?3&
9(,H,(,:F$%5 & , & $:;,(,5,53 & ,:;(, & ?;(?5L & 8@=" & 5, & $:;,:;%(W & E?5;(%(&
F?:5$5;,:F$%53 & F?:F?(>%:F$%5 & Y & F?:;(%>$FF$?:,5 & ,: & 6% & (,6%F$P: & >$%6RF;$F%&
>?F,:F$%<$:#,5;$*%F$P:3&F?:&,6&9(?9P5$;?&>,&,FD%(&6=J&5?A(,&6%5&F?:>$F$?:,5&
>, & >,5,E9,l? & >, & ,5;% & 9(?H,5$P: & ,: & 9(?F,5?5 & >, & F%EA$?3 & %5" & F?E? & ,6&
F?E9?(;%E$,:;?&>,&6?5&%F%>RE$F?5&%(*,:;$:?5&H(,:;,&%&,66%5L&
.;<;D>;?'A<;=C?c&Q(?H,5$P:&8F%>RE$F%&-&;,:5$P:&-&>?F,:F$%&,&$:#,5;$*%F$P:L
6,%6E,(U*E%$6LF?E
5,(?5(?A$:UD?;E%$6LF?E
E%(E%$>%:%U*E%$6LF?E
%*0"#)*!'(-2"&)"'"&'0-#'.!-7"#-!"#'("'0*'3&6G"!#6(*(K
!=F$%&4($;?5&<&.1bK!3&8(*,:;$:%7
2%((?&8:%&+%6,($%&<&.1bK!3&8(*,:;$:%7
!,Y,5&b%>$%&<&.1bK!3&8(*,:;$:%7
/6&5$*=$,:;,&;(%A%X?&5,&;(%;%&>,&=:&%:W6$5$5&>,6&;(%A%X?&>?F,:;,&,:&,6&WEA$;?&
1:$#,(5$;%($?3 & ,59,F"H$F%E,:;, & ,: & 6% & )%F=6;%> & >, & V$,:F$%5 & I=E%:%5 & >, & 6%&
1:$#,(5$>%> & b%F$?:%6 & >, & K%: & !=$5L & [,59=R5 & >,6 & %:W6$5$5 & >, & 6?5 & >%;?5&
(,F?*$>?5&9?(&6?5&5=X,;?53&5,&9=>?&#$5=%6$J%(&6%5&F?:>$F$?:,5&F?;$>$%:%5&,:&
6%5&@=,&>,5%((?66%:&5=&;(%A%X?&6?5&9(?H,5?(,5L&!?5&F=%6,5&,5;W:&%;(%#,5%:>?&
9?( & :=E,(?5?5 & F%EA$?53 & F?:H6$F;?53 & ,N$*,:F$%5 & >,A$>? & % & 6%5 & 9?6";$F%5&
,>=F%;$#%5 & @=, & %;(%#$,5% & ,6 & 9%"53 & 6? & @=, & 6,5 & 66,#% & % & =:% & $:;,:5$H$F%F$P:3&
F=%6$H$F%F$P: & Y & (,F=%6$H$F%F$P: & >, & 5= & 6%A?(L & S%EA$R: & 5, & >,;,F;%(?: & 6%5&
(,9(,5,:;%F$?:,5&@=,&;$,:,:&6?5&>?F,:;,5&>, &5=&;(%A%X?3 &,: &6%5&F=%6,5&5,&
>,;,F;? & @=, &6%& $E%*,: & >, & 6%&5?F$,>%> &5, & D%&$>?& E?>$H$F%:>? &>=(%:;, & 6?5&
%l?5&Y&5,&D%&,:F?:;(%>?&@=,&F%>%&#,J&EW5&,6&E%6,5;%(&,:&F%>%&=:?&>,&6?5&
>?F,:;,5&(,9,(F=;,&,:&5=&F?;$>$%:$>%>&6%A?(%6&Y&9,(5?:%63&,;FL&
.;<;D>;?'A<;=C?cS(%A%X?&[?F,:;,T&'%6,5;%(&[?F,:;,T&V?:>$F$?:,5&
!%A?(%6,5L
6:A($;?5U6$#,LF?EL%(
%#*%((?UY%D??LF?EL%(
::6,Y,5UY%D??LF?EL%(
-'-01*!'#-+!"'*#'2-!"-:!*76*#'("'"&#6&-'6%.062*(*#'&*'
(-2Z&26*'3&6G"!#6)I!6*8'2"&I!6-#J'2-&(649"#'"'"&2"&*49"#K
'%($%&>%5&2(%B%5&8=N$6$%>?(%&)$>,6$5&4%(A?J%&.1:$#,(5$>%>,&V%;P6$F%&>?&
K%6#%>?(&-&1VK863&4(%5$67
/5;,&%(;$*?&?AX,;$#%&>$5F=;$(&,&%:%6$5%(&%5&9(W;$F%5&9,>%*P*$F%5&,E&5%6%&>,&
%=6%&>,&>?F,:;,5&=:$#,(5$;W($?5&>,&=E%&=:$#,(5$>%>,&9($#%>%3&:?&4(%5$6L&8&
$:;,:BG?&R&,6=F$>%(&?&E?>?&F?E?&,6%5&5G?&9(?>=J$>%5&,&$:;,(9(,;%>%5&9,6?5&
>?F,:;,53&A,E&F?E?&,:;,:>,(&,E&@=%$5&F?:;,N;?5&,&F$(F=:5;]:F$%5&,6%5&5,&
(,%6$J%EL&S(%;%<5,&>,&=E&,5;=>?&,N96?(%;P($?3& >,5,:#?6#$>?&:?&9,("?>?&>,&
E%(B?&%&X=:D?&>,&ijjtL&)?(%E&(,%6$J%>%5&?A5,(#%BC,5&,E&5%6%&>,&%=6%&,&
,:;(,#$5;%5 & $:>$#$>=%$5 & 5,E$>$(,;$#%5 & F?E & >?J, & >?F,:;,5 & >?5 & F=(5?5 & >,&
[$(,$;?3 & )$5$?;,(%9$%3 & Q,>%*?*$% & , & e:H?(EW;$F%L & _5 & %FD%>?5 & 6,#%E & % & =E%&
F?E9(,,:5G? &>%&>$:]E$F% &>%&%=6%&F?E? &=E&,59%B?0;,E9? &>, &$:;,(%BC,5&
5?F$%$5 & H%F, & % & H%F,L & /55% & >$:]E$F% & ,:#?6#, & ($;E?3 & %;?(,53 & 5,@=O:F$%5 & >,&
,:5$:? & , & %9(,:>$J%*,EL & 8 & F?(,?*(%H$% & ,5;%A,6,F, & (,6%BC,53 & F?:,NC,53&
9=65%BG?&,:;(,&%;?(,53&9(?F,55?5&9,>%*P*$F?5&,&?&F?:;,N;?&$:5;$;=F$?:%6T&,&R&
,:F,:%>%&>,&%F?(>?&F?E&%&:%;=(,J%&>%&>$5F$96$:%3&?&;=(:?3&?&D?(W($?3&?&9,(H$6&
>%&;=(E%3&,:;(,&?=;(?5&%59,F;?5L&_5&9,(F=(5?5&,>=F%;$#?5&;%EARE&#%($%E&
F?:H?(E, & % & $:;,:F$?:%6$>%>, & , & ? & F?:;,N;?3 & $:H6=,:F$%:>? & ?5 & E?>?5 & >,&
5,(0,5;%( & :% & 5%6% & >, & %=6%L &V?:F6=$<5, & @=, & % & >?FO:F$% & 5, & ,H,;$#% & F?E?&
%F?:;,F$E,:;? & ,E & F?:;,N;?5 & 5PF$?<D$5;P($F?5 & E$F(?55?F$%$53 & ?5 & @=%$5 & 5,&
$:5F(,#,E & :%5 & ,5;(=;=(%5 & 5PF$?<D$5;P($F%5 & E%$5 & %E96%5 & >? & ,:5$:? & 9($#%>?&
A(%5$6,$(?&:%&F?:;,E9?(%:,$>%>,L
.;<;=>;?@2B;=C8& >?FO:F$% & =:$#,(5$;W($%3 & ,:5$:? & 5=9,($?(3 & F?(,?*(%H$%5 & >,&
,:5$:?3&9(W;$F%&9,>%*P*$F%
HY>$%5UD?;E%$6LF?E&
-'.!-7"##-!'3&6G"!#6)I!6-'"'-'"&#6&-'2!6*)6G-8'(60"%*#'"'
."!#."2)6G*#'&*'7-!%*45-'(-'.!-7"##-!'2-&)"%.-!5&"-
)WA$?&86,N%:>(,&8(%MX?&>?5&K%:;?5&<&.e)Zb<'%F%=3&4(%5$67&
8:>(,JJ%&'%($%&4%;$5;%&>?&b%5F$E,:;?&S%#%(,5&<.e)Zb<'%F%=3&4(%5$67&
e5%=(?&4,6;(W:&b=l,J&<&.1)Zb3&4(%5$67
/5;, & %(;$*? & ;,E & ? & H$;? & >, & >$5F=;$( & 5?A(, & ? & 9(?H,55?( & =:$#,(5$;W($? & , & 5=%5&
(,6%BC,5&9,>%*P*$F%5&:%&9,(59,F;$#%&>%&F($%;$#$>%>,L&8&F($%;$#$>%>,&;?(:%<5,&
:,5;, & :?#? & E$6O:$? & =E% & F?E9?:,:;, & ,55,:F$%6 & :% & H?(E%BG? & $:;,*(%6 & > & ?&
5=X,$;?L&8&=:$#,(5$>%>,&F?:5$5;,&,E&>?5&,59%B?5&9($#$6,*$%>?5&:?&H?E,:;?&^5&
9(W;$F%5&,>=F%;$#%5&>,&F=:D?&F($%;$#?L&/:;(,;%:;?3&,N$5;,&=E&>,5F?E9%55?&
,:;(,&%&,5F?6%&,&%&=:$#,(5$>%>,&,:@=%:;?&6PF=5&>,&H?(E%BG?3&=E%&#,J&@=,&
?5&9(?H,55?(,5&@=,&,5;G?&5,:>?&H?(E%>?5&:%5&E,5E%5&:G?&,5;G?&;,:>?&%&
?9?(;=:$>%>, & >, & #$#,:F$%( & ;%$5 & 9(W;$F%5L & K,:>? & %55$E3 & 5=(*,E & @=,5;C,5&
F,:;(%$5c & ?:>, & ,5;W & % & F($%;$#$>%>, & :?5 & ,59%B?5 & =:$#,(5$;W($?5f & w=%$5 & ?5&
,:;(%#,5&,N$5;,:;,5&:?&H%J,(&9,>%*P*$F?&F($%;$#?&:%&H?(E%BG?&>?&9(?H,55?(f&
_5 & 9(?H,55?(,5 & H?(E%>?(,5 & ,5;G? & F?:5F$,:;,5 & >,55% & 9?;,:F$%6$>%>, & , & >,&
F?E?&;(%;W<6%&:?5&9(?F,55?5&9,>%*P*$F?5f&[$%:;,&>,&;%$5&9(?A6,E%53&%H$(E%<
5,&@=,3&:%&E%$?($%&>%5&#,J,53&?5&9(?H,55?(,5&H?(E%>?(,5&:G?&>$59C,E&>,55%&
F?:5F$O:F$% & % & (,59,$;? & >% & F($%;$#$>%>, & , & 5=%5 & $E96$F%BC,5 & 9,>%*P*$F%5 & ,&
D=E%:%5L & )%J<5, & :,F,55W($? & (,9,:5%( & H?(E%BC,5 & 9(?H$55$?:%$5 & @=,&
F?:;,E96,&?5&9(?H,55?(,5&%&(,H6,;$(&5?A(,&5=%5&9(P9($%5&F(,:B%5&%&(,59,$;?&
>% & F($%;$#$>%>, & :? & , & :5$:?3 & ,5;,5 & 9?>,(G? & 5,:;$( & % & :,F,55$>%>, & (,%6 & >,&
;(%:5$;%(&>,&5=%5&S,?($%5&eE96"F$;%5&9%(%&%5&S,($%5&/N96"F$;%5&,E&(,6%BG?&^&
;,EW;$F%&,E&>,5;%@=,L
.;<;=>;?@AB;=Cc & V($%;$#$>%>,3 & )?(E%BG? & , & 9(?H$55$?:%6$J%BG? & >?F,:;,3&
/:5$:?&5=9,($?(L
-')!*+*01-'(-2"&)"'&*#'6&#)6)3649"#'("'"&#6&-'#3."!6-!'
.$+062*#8'*'0F:62*'(*#'.-0O)62*#'*G*06*)6G*#
!%=($E%(&>,&'%;?5&)%($%5&.1)Q83&4(%5$67
_&9(,5,:;,&;,N;?&R&(,5=6;%>? &>%5&%9(?N$E%BC,5 &@=,&FD,*%E?5&>=(%:;, &?&
>,5,:#?6#$E,:;? & >, & =E% & >$55,(;%BG? & >, & E,5;(%>? & ,E & ,>=F%BG? & :%&
1:$#,(5$>%>,&),>,(%6&>?&Q%(W&$:;$;=6%>%&_&S(%A%6D?&[?F,:;,&:%5&e:5;$;=$BC,5&
QMA6$F%5&>,&/:5$:?&K=9,($?(c&e:;,:5$H$F%BG?&>?&Q(?>=;$#$5E?&8F%>OE$F?&:%&
1)Q8L&b?55?&?AX,;$#?&9(,F"9=?&:,5;,&;(%A%6D?&R&>$5F?((,(&%F,(F%&>?&;(%A%6D?&
>?F,:;, & :%5 & e:5;$;=$BC,5 & >, & /:5$:? & K=9,($?( & QMA6$F%5 & , & %5 & 9?6";$F%5&
%#%6$%;$#%53 & ,59,F$%6E,:;, & %@=,6%5 & %>#$:>%5 & >?5 & P(*G?5 & %#%6$%>?(,5 & , & >,&
H?E,:;?&^&9,5@=$5%&:%F$?:%6L&Q%(%&;%:;?3&?&>,5,:#?6#$E,:;?&E,;?>?6P*$F?&
>? & ;(%A%6D? & 5, & >,= & %;(%#R5 & >% & (,#$5G? & A$A6$?*(WH$F% & @=, & H=:>%E,:;%E & ,&
5=5;,:;%E&:?55?&(,H,(,:F$%6&;,P($F?L&V?:5$>,(%:>?&@=,&%5&(,F,:;,5&9?6";$F%5&
%#%6$%;$#%5&,5;%;%$5&$:;,:5$H$F%E&?&;(%A%6D?&>?F,:;,&:?5&,59%B?5&>,&,:5$:?&
5=9,($?( & 9MA6$F?L & _5 & (,5=6;%>?5 & $>,:;$H$F%E & 9(,6$E$:%(E,:;,3 & @=, & %5&
E=>%:B%5 & :% & ?(*%:$J%BG? & >? & ;(%A%6D? & H(=;? & >%5 & ,N$*O:F$%5 & >%5 & %*O:F$%5&
E=6;$6%;,(%$53 & F?EA$:%>%5 & F?E & %5 & (,H?(E%5 & :,?6$A,(%$5 & :%5 & ,5;(=;=(%5&
*?#,(:%E,:;%$5 & A(%5$6,$(%5 & @=, & E?>$H$F%E & % & >$:]E$F% & >% & *,5;G? & >?5&
,59%B?5 & 9MA6$F?5 & @=, & 9($?($J%E & ?5 & (,5=6;%>?53 & ;(%J,E & =E% & $:;,:5$H$F%BG?&
9%(%&?&;(%A%6D?&>?F,:;,3&=E%&#,J&@=,&?&E?>,6?&%>?;%>?&%&9%(;$(&>,5;%&:?#%&
F?:H$*=(%BG?&R&?&>%&6P*$F%&>%&%#%6$%BG?&F?E9,;$;$#%&,&E,(F%>?6P*$F%L&
.;<;=>;?@AB;=Cc&Q(?>=;$#$5E?T&S(%A%6D?&[?F,:;,T&8#%6$%BG?L
6%=($E%;?5oiUY%D??LF?ELA(
-#'(6E"!"#'(-#'(6#2"&)"#'#-+!"'-')!*+*01-'(-2"&)"'&*'
3&6G"!#6(*("8'.-##6+606(*("#'"'("#*76-#'.*!*'-'23!#-'
#3."!6-!'("')"2&-0-:6*K
2,(5?:&K,:HH&-&.K/b8V0KV&-&1b/Z\0Q1V3&4(%5$67
&
8 & 9,5@=$5% & %@=$ & %9(,5,:;%>% & ?AX,;$#?= & %#%6$%( & ? & ;(%A%6D? & >?F,:;,&
>,5,:#?6#$>?&:?&V=(5?&K=9,($?(&>,&S,F:?6?*$%&>,&=E%&H%F=6>%>,&>?&,5;%>?&
>, & K%:;% & V%;%($:%3 & 4(%5$6L & 8 & %:W6$5, & ;,#, & F?E? & 9($:F$9%$5 & (,H,(,:F$%$5&
;,P($F?5 & S%(>$H & .ijji73 & Q$E,:;% & , & 8:%5;%5$?= & .ijjs73 & '%FD%>? & .ijjj73&
'%5,;;?.mttv3&ijjh7T&4,D(,:5.mttk7T&V=:D%&.mttv3&ijjo73&V%(>?5?&.ijji7T&
K%F($5;W: & , & QR(,J & 2PE,J & .mttk7T & K$6#% & .mttt3 & ijjj7 & , & )(,$(, & .mttk7L & _5&
(,5=6;%>?5 & %9?:;%(%E & 9%(% & % & :,F,55$>%>, & >, & ? & ;(%A%6D? & >?F,:;, & :%&
=:$#,(5$>%>, & A=5F%( & >,5,:#?6#,( & 9(W;$F%5 & >, & ,:5$:? & >$H,(,:F$%>%5 & @=,&
,5;%A,6,B%E&,@=$6"A($?&,:;(,&5%A,(,5&;,F:?6P*$F?5&,&9,>%*P*$F?53&;,?($%&,&
9(W;$F%3 & F?:D,F$E,:;?3 & #$#O:F$%3 & , & ,N9,($O:F$% & :? & 9(?F,55? & >, & ,:5$:?<
%9(,:>$J%*,EL
.;<;=>;?@AB;=Cc&[$J,(,5&[$5F,:;,53&S(%A%6D?&>?F,:;,T&V=(5?&K=9,($?(&>,&
S,F:?6?*$%&L
*,(5,:HHU*E%$6LF?E
."!760'6("*0'("0')3)-!'("')!*+*,-#'("':!*(-'*'&6G"0'("'
.-#):!*(-'("'0*'3&6G"!#6(*('."(*:F:62*'"H."!6%"&)*0'
06+"!)*(-!''K'GCXC}iC<;
&Z?X%5&5%Y%*?&H6?(,6A%
/6&&9(,5,:;,&;(%A%X?&>,&$:#,5;$*%F$P:&;=#?&F?E?&?AX,;$#?&,5,:F$%6&>,5F($A$(&,6&
Q,(H$6&e>,%6&>,6&S=;?(&>,&S(%A%X?5&>,&2(%>?&%&b$#,6&>,&Q?5;*(%>?&>,&6%&1Q/!<
eQ'8Z&+,:,J=,6%L&/6&,5;=>$?&,5;=#?&,:E%(F%>?&>,:;(?&>,&6%&$:#,5;$*%F$P:&
>,&F%E9?&>,&F%(WF;,(&>,5F($9;$#?L&!%&9?A6%F$P:&,5;=#?&F?:H?(E%>%&9?(&sg&
>?F,:;,5& @=, &F=E96,: &H=:F$?:,5& >, & S=;?( &,: &6%5& >$5;$:;%5 & E,:F$?:,5& >,6&
Q(?*(%E% & >, & '%,5;("% & ,: & />=F%F$P: & & Y & moi & ,5;=>$%:;,5 & ,: & 6% & )%5, & >,&
[,5%((?66? & >, & Q(?Y,F;?L & [, & 6% & E$5E% & 5, & ;?EP & =:% & E=,5;(% & 9(?A%A$6"5;$F%&
,5;(%;$H$F%>%&%&H$:&>,&%=E,:;%(&6%&9(,F$5$P:3&@=,>%:>?&(,9(,5,:;%>%&9?(&io&
S=;?(,5 & .sj†7 & Y & gh & ,5;=>$%:;,5 & .is†7 & F?((,59?:>$,:;,5 & %6 & Q,("?>?&
8F%>RE$F?&ijjg<eL&V?E?&$:5;(=E,:;?&>,&(,F?6,FF$P:&>,&6%&$:H?(E%F$P:3&5,&
>$5,l%(?: & >?5 & V=,5;$?:%($?5 & >, & _9$:$P:3 & & F?:;,:;$#?5 & >, & o & 9(,*=:;%5&
%A$,(;%53&F%>% &=:?3&9(,#$%E,:;,&#%6$>%>?5&9?(&,6&X=$F$?&@=,&(,%6$J%(?:&6?5&
,N9,(;?53 & 9(,#$% & %96$F%F$P: & % & =:% & E=,5;(% & 9$6?;? & F?: & 5=X,;?5 & >,&
F%(%F;,("5;$F%5&5$E$6%(,5&%&6%&9?A6%F$P:&,:&,5;=>$?L&Q?5;,($?(E,:;,&5,&%96$FP&
6% & #,(5$P: & >,H$:$;$#% & >,6 & $:5;(=E,:;? & % & ;=;?(,5 & Y & ;=;?($J%>?5 & >, & 6%&
E,:F$?:%>% & 9?A6%F$P:L & !% & $:H?(E%F$P: & & H=, & 9(?F,5%>% & Y & %:%6$J%>%3&
5$*=$,:>? & ,6 & 9(?F,>$E$,:;? & 5=*,($>? & 9?( & I,(:W:>,J & Y & _;(?5 & .mttv73&
F6%5$H$F%:>? &6%5 & (,59=,5;%5 &5,*M: & 6%& H(,F=,:F$% & >, &E,:F$P:3& E,>$%:;, &=:&
%:W6$5$5&>,5F($9;$#?3&6?&@=,&9,(E$;$P&66,*%(&%&6%&>,5F($9F$P:&>,6&Q,(H$6&e>,%6&>,6&
S=;?( & >, & S(%A%X?5 & >, & 2(%>? & % & b$#,6 & >, & Q?5;*(%>? & >, & 6% & 1Q/!<eQ'8ZL&
_A;=#$R:>?5,&F?E?&F?:F6=5$P:3&%59,F;?5&(,H,($>?5&%&)?(E%F$P:&8F%>RE$F%3&
V%(%F;,("5;$F%5 & Q,(5?:%6,53 & )=:F$?:,53 & I%A$6$>%>,5 & Y & [,5;(,J%53&
V?:?F$E$,:;?53&@=,&>,A,&9?5,,(&;?>?&>?F,:;,&@=,&,X,(J%&6%&H=:F$P:&;=;?($%6&
%5"&F?E?&;%EA$R:&5,&,5;%A6,F$,(?: &%59,F;?5&$:;,(,5%:;,5&,:&F=%:;?&%&6%5&
V?:>$F$?:,5 & )%#?(%A6,5 & Y & 8EA$,:;, & )"5$F? & e>,%6 & ,: & ;?(:? & %6 & 9(?F,5? & >,&
;=;?("%5L & K, & (,F?E,:>P & 6% & F?:H?(E%F$P: & >, & =: & *(=9? & >, & $:#,5;$*%F$P:&
$:;,*(%>?&9?(&,59,F$%6$5;%5&>,&>$H,(,:;,5&W(,%53&6%&(,%6$J%F$P:&Y&(,#$5$P:&,:&
6%5&9?6";$F%5&>,&5,6,FF$P:3&,5;%A6,F$E$,:;?&>,&E,F%:$5E?5&>,&,#%6=%F$P:&Y&
6%&F(,%F$P:&>,&9(?*(%E%5&9%(%&6%&H?(E%F$P:&9,(E%:,:;,&>,&;=;?(,53&,:;(,&
?;(%5L
.;<;D>;?'A<;=C?c&S=;?(&>,&S(%A%X?5&>,&2(%>?3&&Q,(H$6&e>,%63&/>=F%F$P:&
K=9,($?(&&V%(%F;,("5;$F%53&)=:F$?:,5&>,6&S=;?(L&
(?X%5H6?(,6A%UD?;E%$6LF?E
.-0O)62*#'("'!":30*26F&'("'0*'"(32*26F&'#3."!6-!'
3&6G"!#6)*!6*'"&'*%_!62*'0*)6&*K'#3#'6%.062*&26*#'"&'"0'
)!*+*,-'("'0-#'*2*(_%62-#K
&/5;,6%&'L&'$(%:>%&.1:$#,(5$>%>&b%F$?:%6&>,&VP(>?A%3&8(*,:;$:%7
&+%:$:%&8(,5&4%(*%5&.1:$#,(5$>%>&b%F$?:%6&>,&VP(>?A%3&8(*,:;$:%7
!%5 & (,H?(E%5 & (,F$,:;,5 & ,: & 6% & ,>=F%F$P: & 5=9,($?( & H?(E%(?: & 9%(;, & >, & =:&
9(?F,5? & E%Y?( & >, & (,,5;(=F;=(%F$P: & ,: & 6%5 & (,6%F$?:,5 & ,:;(, & ,6 & /5;%>?3 & 6%&
=:$#,(5$>%> & Y & 6% & 5?F$,>%> & .E,(F%>?7L & /: & 6% & %*,:>% & >, & 6%5 & 9 & ?6";$F%5&
:,?6$A,(%6,5 & Y & A%X? & 6% & `:%((%;$#% & >,6 & F%EA$?a & 5, & $:5;%6P & 6%& F=,5;$P: & >, & 6%&
F%6$>%>&,:&6%5&=:$#,(5$>%>,5L&/6&/5;%>?&9(?E?#$P&=:&F?:X=:;?&>,&9?6";$F%5&
>,5;$:%>%5 & % & >$(,FF$?:%( & ,6 & 5$5;,E% & Y & 6%5 & $:5;$;=F$?:,5 & =:$#,(5$;%($%5&
E,>$%:;,&E,F%:$5E?5&>,&,#%6=%F$P:3&(,:>$F$P:&>,&F=,:;%5&.%FF?=:;%A$6$;Y7&
Y& (,E=:,(%F$P: & >$H,(,:F$%>% &9?( & E,>$? &>, & 9(?*(%E%5 & ',($; &Q%YL & /: &,5;,&
F?:;,N;?3 & 6% & ,#%6=%F$P: & Y & ,6 & H$:%:F$%E$,:;? & ?9,(%(?: & F?E? & ;,F:?6?*"%5&
9?6";$F%5&>,6&/5;%>?&9%(%&(,*=6%(&6%5&$:5;$;=F$?:,5&Y&6%5&9(WF;$F%5&%F%>RE$F%5&
>,&6?5&5=X,;?5&>?F,:;,5L&/:&8(*,:;$:%3&6%&,#%6=%F$P:&>,&6%&$:#,5;$*%F$P:&5,&
H?(E%6$J%&%&;(%#R5&>,&5$5;,E%5&>,&,5;"E=6?5&%F%>RE$F?5&A%X?&=:&,5@=,E%&
>, & $:F,:;$#?5 & E?:,;%($?5 & % & 6% & 9(?>=FF$P: & F$,:;"H$F%L & /6 & 9(?9P5$;? & >, & ,5;%&
9?:,:F$% & ,5 & 9(,5,:;%( & 6?5 & 9($E,(?5 & %#%:F,5 & >,6 & /5;%>? & >,6 & 8(;, & >, & =:%&
$:#,5;$*%F$P:&@=,&;$,:,&F?E?&?AX,;$#?&9($:F$9%6&%A?(>%(&`6%&H%FD%>%&?AX,;$#%&
>,&6%5&(,H?(E%5&.,H,F;?5&>,&9($E,(&?(>,:7&Y&,N%E$:%(&6%5&5=AX,;$#$>%>,5&>,6&
F%EA$? & Y& 6%5 &5=AX,;$#$>%>,5 & ,: &F%EA$?.,H,F;?5 &>, & 5,*=:>? &?(>,:7 &,: &6?5&
%F%>RE$F?5&>,&>$H,(,:;,5&>$5F$96$:%5&,:&6%&1:$#,(5$>%>&b%F$?:%6&>,&VP(>?A%L
.;<;D>;?'A<;=C?8& />=F%F$P:&5=9,($?(3&Z,H?(E%5&,:&6%&,>=F%F$P:&5=9,($?(3&
Q?6";$F%5&>,&(,*=6%F$P:
,5;,6%E$(%:>%U%(:,;LF?EL%(
#%:$:%%(,5A%(*%5UD?;E%$6LF?E
.-0O)62*#'"(32*26F&*6#J'.!*:%*)6#%-'"'6&(6G6(3*06#%-'8'
2-&#"L3Z&26*#''.!I)62*'(-#'6&)"0"2)3*6#'&*#'
3&6G"!#6(*("#K
K?:$%&Z,*$:%&!%:>$:$&-&.1)QZ3&3&4(%5$67
Q?(&E,$?&>%&%:W6$5,&>%5&9?6";$F%5&/>=F%F$P:%$5&9%(%&?&,:5$:?&5=9,($?(3&A,E&
F?E?&>%&$:H6=O:F$%&>?&9(%*E%;$5E?&:%5&9(W;$F%5&%F%>OE$F%53&,5;,&,:5%$?&
9(,;,:>,&9(?9?(F$?:%(&%&(,H6,NG?&5?A(,&%5&(,6%BC,5&F?:;(%>$;P($%5&9?5;%5&:?&
F?;$>$%:? & =:$#,(5$;W($?L & 89?:;%:>? & =E% & %=;?:?E$% & >,5,:*%X%>%3 & =E%&
%F$((%>% &F?E9,;$;$#$>%>, &, &,6,#%>%&9(,F%($J%BG? &>?&;(%A%6D?3 &9(,;,:>,<5,&
,#$>,:F$%( & % & %=5O:F$% & >, & 9(W;$F%5 & $:;,6,F;=%$5 & ,H,;$#%E,:;, & F(";$F%5 & ,&
?(*]:$F%5&$:F%9%J,53&>,5;,&E?>?3&>,&9(?E?#,(&%&5=9,(%BG?&>?5&9(?F,55?5&
>,&%6$,:%BG?L
.;<;=>;'AB;=C8&Q?6";$F%&/>=F%F$P:%63&/>=F%BG?&5=9,($?(3&Q(W;$F%5&
%F%>OE$F%5
56%:>$:$U=?6LF?ELA(
.-0O)62*#'.$+062*#'"'-'.!-7"##-!'&*'3&6G"!#6(*("'*+"!)*'
.*!*'*')"!2"6!*'6(*("
Z$;%&>,&VW55$%&_6$#,$(%&-&.1/Q23&4(%5$67
Q%?6%&8:>(,55%&KF?(;,*%*:%&-&.1/Q23&4(%5$67
)6W#$%&>%&K$6#%&_6$#,$(%&-&.1be‚_3&4(%5$67
& _ & ,:#,6D,F$E,:;? & 9?9=6%F$?:%6 & :? & 4(%5$6 & R & =E% & (,%6$>%>,3 & ,:;(,;%:;? & %&
5?F$,>%>,&%$:>%&E%:$H,5;%&=E%&#$5G?&9(,F?:F,$;=?5%&,&:,*%;$#%&>%&#,6D$F,L&
8&,>=F%BG?&9%(%&$>?5?5&F?:H$*=(%<5,&F?E?&=E%&>%5&:,F,55$>%>,5&,&>,5%H$?5&
%;=%$53 & , & %55$E3 & 5=(*, & % & :,F,55$>%>, & >, & =E & 9(?H$55$?:%6 & 9(,9%(%>? & 9%(%&
;(%A%6D%(&F?E&,5;,&9MA6$F?3&;,:>?&%&(,H6,NG?&,&%&9,5@=$5%&F?E?&,6,E,:;?5&
,55,:F$%$5 & :% & (,6%BG? & F?:D,F$E,:;? & , & 9(W;$F% & 9,>%*P*$F%L & 8 & ,>=F%BG?3&
,H$F$,:;, & E,>$%>?(% & :? & 9(?F,55? & >, & $:F6=5G? & 5?F$%6 & , & ,E9?>,(%E,:;?3&
9?55$A$6$;% & % & %E96$%BG? & >% & 9%(;$F$9%BG?3 & (,H6,NG? & , & H?(E%BG?L & b,55%&
5?F$,>%>,&,N$*,<5,&=E&9(?H,55?(&@=,&(,H6$;%&5?A(, &5=%&9(W;$F% &,&5,&$:5$(%&
:=E%&:?#%&F=6;=(%&9(?H$55$?:%63&9(?9?(F$?:%:>?&%&,55,&5,*E,:;?&F?:>$BC,5&
>,&F(,5F$E,:;?3&>,&(,%6$J%BG?&,&,N,(F"F$?&>,&F$>%>%:$%L&/5;%&$:#,5;$*%BG?&R&
@=%6$;%;$#%3 & ;,:>? & F?E? & ?AX,;$#?5 & $>,:;$H$F%( & ? & 9%9,6 & , & % & (,6,#]:F$% & >%&
$:;,(#,:BG?&5PF$?<,>=F%;$#%&>?&9(?H,55?(&:%&18Se01/Q2&,&#,($H$F%(&>,&@=,&
E%:,$(%&,6,5&;OE&5,&9(,9%(%>?&9%(%&;(%A%6D%(&F?E&?5&$>?5?5L&8&18Se&9?55=$&
mv&%:?53&?AX,;$#%&E,6D?(%(&%&@=%6$>%>,&>,&#$>%&>?5&$>?5?53&#%6?($J%(&,&,6,#%(&
% & %=;?<,5;$E%3 & 9?55$A$6$;%( & % & $:;,*(%BG? & $:;,(*,(%F$?:%63 & % & %;=%6$J%BG? & ,&
%@=$5$BG?&>,&F?:D,F$E,:;?5L&_&9(?H,55?(&:%&18Se&&9(,F$5%&,5;%A,6,F,(&=E%&
#$5G?&>,&F?:X=:;?&,&?($,:;%BG?&,5;(%;R*$F%&>,&H=;=(?3&#?6;%>%&9%(%&=E&:?#?&
?6D%(&5?A(,&%&#,6D$F,&,&?&9(?F,55?&>,&,:#,6D,F$E,:;?L
.;<;=>;?@AB;=C?c & 9?6";$F%5 & 9MA6$F%53 & 9(?H,55?(3 & >?FO:F$%3 & =:$#,(5$>%>,&
%A,(;%L
?T<j=Cj>;/gxiT<KATWKD>
S;T<;~?AT>YCu;uX;xBTYW;j<KATW
H6%5?6$#,$(%U=?6LF?ELA(
.!*)62*'."(*:F:62*'&*'"H)"&#5-'(*'7*230(*("'("'"(32*45-'
76#62*'f'7*"76V373'2-%'."##-*#'2-%'&"2"##6(*("#'"#."26*6#
+%6R($%&'%::%&_6$#,$(%&<&&.1:$#,(5$>%>,&),>,(%6&>,&1A,(6]:>$%0'2&-&1)13&
4(%5$67
K?6%:*,&Z?>?#%6D?&6$E%&-&.1:$#,(5$>%>,&),>,(%6&>,&1A,(6]:>$%0'2&-&1)13&
4(%5$67
'%($%&I,6,:%&V%:>,6?($&+$>%6&-&.1:$#,(5$>%>,&),>,(%6&>,&1A,(6]:>$%0'2&-&
1)13&4(%5$67
Kp:$%&4,(;?:$&K?=5%&-&.1:$#,(5$>%>,&),>,(%6&>,&1A,(6]:>$%0'2&-&1)13&4(%5$67
/5;, & ;(%A%6D? & #$5% & %9(,5,:;%( & ? & bMF6,? & e:;,(>$5F$96$:%( & >, & /5;=>?5 & ,&
Q,5@=$5%&,E&8;$#$>%>,&)"5$F%&,&K%M>,&>%&)%F=6>%>,&>,&/>=F%BG?&)"5$F%&>%&
1:$#,(5$>%>,&),>,(%6&>,&1A,(6]:>$%0'2&.be8)K0)8/)e01)17L&ƒ&F?:5;$;=">?&9?(&
9(?H,55?(,5 & ,H,;$#?5 & < & >?F,:;,5 & >% & 1)1T & 9(?H,55?(,509,5@=$5%>?(,5&
#$5$;%:;,5 & @=, & >,5,:#?6#,E & 9(?X,;?5 & ,0?= & E$:$5;(%E & %=6%5 & ,E & ?=;(%5&
$:5;$;=$BC,5 & >, & ,:5$:?T & ;RF:$F?5 & %>E$:$5;(%;$#?5 & >% & 1)1T&
E?:$;?(,50,5;%*$W($?5 & *(%>=%:>?5 & , & ,*(,55?5 & >% & 1)1 & , & >, & ?=;(%5&
$:5;$;=$BC,5&>,&,:5$:?&5=9,($?(L&KG?&>,5,:#?6#$>?5&:?&:MF6,?3&9(?*(%E%5&>,&
%;,:>$E,:;?&%?5&>$#,(5?5&*(=9?5&>,&9,55?%5&@=,&%9(,5,:;%E&:,F,55$>%>,5&
,59,F$%$5 & F?E?c & Q(?*(%E% & >, & 8;,:>$E,:;? & ‘ & Q,55?% & F?E & [,H$F$O:F$% & -&
Q8Q[T &Q(?*(%E% & >, & 8;$#$>%>, & )"5$F% & 9%(% & '=6D,(,5 & '%5;,F;?E$J%>%5T&
Q(?*(%E% &>,&8;,:>$E,:;?&^&Q,55?%&F?E&S(%:5;?(:?&',:;%6T&Q(?*(%E% &>,&
8;$#$>%>, & )"5$F% & 9%(% & _A,5?5 & 'P(A$>?5 & Q(R & , & QP5 & _9,(%;P($?5 & >%&
2%5;(?96%5;$%T & Q(?*(%E% & >, & 8;,:>$E,:;? & ^5 & Q,55?%5 & F?E & V%(>$?9%;$%T&
Q(?*(%E% &>,&%;,:>$E,:;?&^5 &H%E"6$%5&>, &9,55?%5 &F?E&>,H$F$O:F$%5L&/55,5&
9(?*(%E%5&;OE&9?(&?AX,;$#?3&#$%A$6$J%(&?&%F,55?&^&9(W;$F%&>%&%;$#$>%>,&H"5$F%3&
F?:;($A=$(&F?E &%&H?(E%BG? &$:$F$%6 &>? &9(?H,55?( &>, &/>=F%BG? &)"5$F% &9%(% &%&
W(,% & >% & />=F%BG? & /59,F$%6 & , & H?E,:;%( & ? & >,5,:#?6#$E,:;? & >% & 9,5@=$5%3&
,:5$:? & , & ,N;,:5G?L & 85 & %;$#$>%>,5 & 5G? & >,;,(E$:%>%5 & 6,#%:>?<5, & ,E&
F?:5$>,(%BG?&%5&9?55$A$6$>%>,5&,&$:;,(,55,5&>?5&$:>$#">=?5&,&%5&6$E$;%BC,5&
>,F?((,:;,5 & >?5 & 9(?A6,E%5 & %9(,5,:;%>?5L & 85 & ,N9,($O:F$%5 & >, & ,N;,:5G? & ,&
,:5$:? & #$#,:F$%>%5 & :?5 & 9(?*(%E%5 & >,5,:#?6#$>?5 & :? & be8)K3 & %6RE & >,&
9?55$A$6$;%( & ? & %F,55? & ^ & 9(W;$F% & >% & %;$#$>%>, & H"5$F% & ^5 & 9,55?%5 & F?E&
:,F,55$>%>,5 & ,59,F$%$53 & ;OE & H?(;%6,F$>? & % & F?:F,9BG? & >?5 & %F%>OE$F?5 & >?&
F=(5? & , & ?=;(?5 & 9(?H$55$?:%$5 & ,:#?6#$>?53 & %6RE & >, & 9(?E?#,( &>$5F=55C,5&
%F,(F% & >% & ;,EW;$F% &F?E & 9,55?%5 & F?E & :,F,55$>%>,5 & ,59,F$%$5 & @=,3 & 9?(&
>$#,(5%5&(%JC,53&@=%5,&5,E9(,3&;OE&5$>?&%6$X%>%5&:?&9(?F,55?&5?F$%6L
Q%6%#(%5 & FD%#,5c & />=F%BG? & H"5$F%3 & Q?(;%>?(,5 & >, & :,F,55$>%>,5 & ,59,F$%$533&
/>=F%BG?&/59,F$%6
F%:>,6?($EDU*E%$6LF?E
.!-2"##-'("')!*+*01-'"'"(32*45-'*'(6#)r&26*8'"H.*&#5-'"'
%3(*&4*#'&*'3&6G"!#6(*("'.$+062*'+!*#60"6!*
''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
!,?:%(>?&x,:D%&V?(>,$(?&.1)'23&4(%5$67
85 & E=>%:B%5 & ,F?:pE$F%53 & F$,:;"H$F%5 & , & ;,F:?6P*$F%5 & :% & 5?F$,>%>,&
9(?9?(F$?:%E&;(%:5H?(E%BC,5&F%>%&#,J&E%$5&$:;,:5%5&,&(W9$>%5L&_&9(,5,:;,&
;(%A%6D? & ;,E & F?E? & ?AX,;$#? & %:%6$5%( & %5 & E=>%:B%5 & :% & ?(*%:$J%BG? & >?&
;(%A%6D?&>?F,:;,&:%5&1:$#,(5$>%>,5&QMA6$F%5&A(%5$6,$(%5&F?E&%&$:;(?>=BG?&>,&
F=(5?5 & >, & *(%>=%BG? & % & >$5;]:F$%L & _ & ;(%A%6D? & ;(%;%<5, & >% & $:#,5;$*%BG?&
(,%6$J%>% & :? & E,5;(%>? & 5?A(, & ?5 & F=(5?5 & >, & *(%>=%BG? & >%5 & 1:$#,(5$>%>,5&
),>,(%$5&$E96,E,:;%>?5&%;(%#R5&>?&K$5;,E%&1:$#,(5$>%>,&8A,(;%&>?&4(%5$6L
.;<;=>;?'AB;=Cc&/>=F%BG?&%&[$5;]:F$%3&/:5$:?&5=9,($?(3&S(%A%6D?&>?F,:;,
6,?J,:D%U*E%$6LF?E
!".!"#"&)*49"#'(-')!*+*01-'(-2"&)"'&*'*&."(8'*&I06#"'(*'
.!-(345-'26"&)O762*'
&K=,6$&>,&)%;$E%&_=($@=,&>,8#$6%&<&&.)8'8SI01:$4,::,;;01/Z\3&4(%5$67&
&V%(6%&+%J&>?5&K%:;?5&Z$A,$(?&<&.1)'801/Z\3&4(%5$67
&[,:$5,&4,55%&!,>%&<&.1)'83&4(%5$67
_&;,N;?&9(?9C,<5,&%&%:W6$5,&>%&9(?>=BG?&5?A(,&;(%A%6D?&>?F,:;,&:?&,:5$:?&
5=9,($?(&>$#=6*%>%&:%&A%5,&>,&>%>?5&>%&8bQ/>L&Q%(%&;%63&(,%6$J?=<5,&=E%&
$:#,5;$*%BG?&>,&:%;=(,J%&A$A6$?*(WH$F%&9%(%&%#%6$%(&?5&;(%A%6D?5&%9(?#%>?5&
9,6%&%55?F$%BG?&,:&;(,&mttk&,&ijjvL&[?5&*(=9?5&>,&;(%A%6D?&@=,&F?E9C,E&
%5&(,=:$C,5&%:=%$53&%#,($*=?=<5,c&?&2S&jt&.S(%A%6D?&,&/>=F%BG?7&,&?&2S&mm&
.Q?6";$F% & >, & />=F%BG? & K=9,($?(73 & 9?( & %F(,>$;%( & @=, & 5,($%E & ,59%B?5 & E%$5&
9(?#W#,$5 & >, & >$5F=55G? & >,55% & ;,EW;$F%L & [? & ;?;%6 & >?5 & hkg & ;,N;?5 & >,55,5&
*(=9?53 & %9,:%5 & mh & %9(,5,:;%(%E & 9(?N$E$>%>, & F?E & ? & ?AX,;? & >, & ,5;=>?L&
V?:5;%;?=<5,&@=,&9%(;,&>?5&;,N;?5&5,6,F$?:%>?5&:G?&5,&F?:5;$;=$&,E&,5;=>?5&
@=, & %(;$F=6,E & ? & ;(%A%6D? & >?F,:;, & %? & F?:;,N;? & *6?A%6 & >? & F%9$;%6$5E?3&
F?((,:>?3&%55$E3&($5F?5&>%&D$9,(#%6?($J%BG?&>%&5$:*=6%($>%>,&,&>?&,E9"($F?L&
S?>%#$%3&;%EARE3&6?F%6$J?=<5,&;,N;?5&@=,&>,5;%F%E&%5&;(%:5H?(E%BC,5&:?&
E=:>?&>?&;(%A%6D?&,&5,=5&(,H6,N?5&:?&;(%A%6D?&>?F,:;,L&Q%(;$:>?&>,&=E%&
%A?(>%*,E & F(";$F% & .E%$?($% & E%(N$5;%73 & %:%6$5%E & F?E? & ,55, & 9(?F,55?&
(,9,(F=;,&:%c&,N96?(%BG?&>?5&;(%A%6D%>?(,53&9,(>%&>,&>$(,$;?53&,NF6=5G?&,&
%6$,:%BG?L & Q?( & H$E3 & F%A, & (,55%6;%( & =E & %59,F;? & @=, & :G? & H?$ & %A?(>%>?&
5%;$5H%;?($%E,:;, & 9,6?5 & ;,N;?5 & %:%6$5%>?5c & ?5 & ,H,$;?5 & 95 & $F?55?F$%$5&
>,5,:F%>,%>?53 & 5?A(,;=>?3& ?& 5?H($E,:;?& $E9$:*$>?& %?5 &>?F,:;,5& H(,:;, & %&
=E&F,:W($?&;G?&%>#,(5?L&
.;<;=>;?@AB;=Cc&;(%A%6D?&>?F,:;,3&,:5$:?&5=9,($?(&,&8bQ/>L
5=%#$6%U$*LF?ELA(
F%(6%#%J($A,$(?U=?6LF?ELA(
>,:$5,A6U=?6LF?ELA(
)!*+*,-'(-2"&)"'"&'0*'3&6G"!#6(*(8'!":30*26-&"#J'#3,")-#'b'
.!I2)62*#
&8:%&'%("%&KL&S,66?&.1LbLKL!L38(*,:;$:%7
&'%("%&V($5;$:%&[,@=$:?&&.1LbLKL!L38(*,:;$:%7
&I?(%F$?&[%:$,6&[,6A=,:?&&.1LbLKL!L38(*,:;$:%7
&Z?5%&K?E%(R&.1LbLKL!L38(*,:;$:%7&
/6$J%A,;D&+$*6$?:,&&.1LbLKL!L38(*,:;$:%7
'%("%&S,(,5%&x%A%6%&&.1LbLKL!L38(*,:;$:%7
+,(P:$F%&4%6>?&-&.e:5;$;=;?&>,&/>=F%F$P:&K=9,($?(&[?F,:;,&Y&SRF:$F%&t<jjm&
`2(%6L&K%:&'%(;":a3&',:>?J%3&8(*,:;$:%7
!% & 9(,5,:;, & 9?:,:F$% & $:;,:;% & F?E9%(;$( & Y & 9?:,( & % & F?:5$>,(%F$P: & %6*=:?5&
%#%:F,5&@=,&>$,(?:&6=*%(&%&6?5&H=:>%E,:;?5&>,&=:%&:=,#%&9(,5,:;%F$P:&@=,&
:=,5;(?&,@=$9?&>,&$:#,5;$*%F$P:&D%&(,%6$J%>?&,5;,&%l?&%:;,&6%&5,F(,;%("%&>,&
V$,:F$%&Y&SRF:$F%3&1:$#,(5$>%>&b%F$?:%6&>,&K%:&!=$5&.8(*,:;$:%7L&b=,5;(?5&
,5;=>$?5&5?A(,&;(%A%X?&>?F,:;,&,:&,5;%&1:$#,(5$>%>3&D%:&$E96$F%>?&$:>%*%(&
%F,(F%&>,6&F?:;,N;?&Y&F?:>$F$?:,5&@=,&H%F$6$;%(?:&6%5&,5;(%;,*$%5&E?:;%>%5&
9%(%&,6&(,?(>,:%E$,:;?&>,6&5$5;,E%&F%9$;%6$5;%3&Y&9,(E$;$,(?:&@=,&6%&6P*$F%&
E,(F%:;$6$5;%&9,(E,%(%&6%5&$:5;$;=F$?:,5&=:$#,(5$;%($%5&Y&5=5&%F;?(,5&%&9%(;$(&
>, & 6% & >RF%>% & >, & 6?5 & }tjL & S?>? & ,66? & 5, & F?:X=*P & F?: & 6% & $:>%*%F$P: & >, & 6%5&
F?:>$F$?:,5 & ?AX,;$#%5 & ,: & @=, & 5, & >,5%((?66%: & 6%5 & 9(WF;$F%53 & Y & 6%5&
5$*:$H$F%F$?:,5&Y&5,:;$>?5&@=,&F?:5;(=Y,:&6?5&>?F,:;,5L&/5;%&:=,#%&,;%9%3&
$:;,:;% & %D?:>%( & ,: & ,6 & %:W6$5$5 & >, & 6%5 & 9(WF;$F%53 & 5,%: & >, & %>%9;%F$P: & Y0?&
(,5$5;,:F$%3&@=,&9?:,:&,:&X=,*?&6?5&>?F,:;,5&>,&>$5;$:;?5&F%E9?5&>,6&5%A,(&
@=,&,X,(F,:&,:&6%&/>=F%F$P:&K=9,($?(&Y&@=,3&F?E?&;(%A%X%>?(,53&6?5&5$;M%:&
,:;(,&6%&E,(F%:;$6$J%F$P:&Y&6%&>,E?F(%;$J%F$P:&>,6&F?:?F$E$,:;?L&V?:5;$;=Y,&
R5;, & =: & 9%5? & $:;,(,5%:;, & % & 6% & D?(% & >, & 9?>,( & F?:5;(=$( & =:% & :%((%;$#%&
%6;,(:%;$#% & Y & (,F=9,(%( & :=,5;(% & F?:>$F$P: & >, & ;(%A%X%>?(,53 & ;?E%:>?&
F?:F$,:F$%&>,6&:=,#?&5=X,;?&F?6,F;$#?&@=,&F?:5;$;=$E?5&,:&,6&E%(F?&>,&=:%&
:=,#%&=:$#,(5$>%>&9%(%&=:&:=,#?&9%"5L&
.;<;D>;?'2<;=C?c&S(%A%X?&>?F,:;,-&Z,*=6%F$P:&-&Z,5$5;,:F$%L
%;,66?U=:56L,>=L%(
E>,@=$:?U=:56L,>=L%(
D?(=5U=:56L,>=L%(
5?E%(,U=:56L,>=L%(
,6%((U=:56L,>=L%(
E;J%A%6%U=:56L,>=L%(
#,(?:$F%zA%6>?UY%D??LF?EL%(
)!*+*,-'(-2"&)"'3&6G"!#6)*!6-'b'"#7"!*'.$+062*K'
.!-+0"%*)6E*26-&"#''.-0O)62*#
&86$F$%&&b%9=;&-&.)%F=6;%>&>,&V$,:F$%5&>,&6%&/>=F%F$P:L&1b/Z3&8(*,:;$:%7
[$FD%&$:#,5;$*%F$P:&5,&>,596$,*%&,:&=:%&J?:%&@=,&%A%(F%&6%&,>=F%F$P:&Y&6%&
9?6";$F%3&9%(%&,:;(%(&%&=:&F%E9?&>,&%(;$F=6%F$?:,5&F?E96,X%5&,:;(,&H?(E%5&
>,&F?:?F$E$,:;?3&E?>?5&>,&9%(;$F$9%F$P:&Y&F?:H?(E%F$P:&>,&(,6%F$?:,5&>,&
9?>,(3&@=,&5,&,N;$,:>,:&D%F$%&6%5&$:F$>,:F$%5&,:&6%&>,;,(E$:%F$P:&F=(($F=6%(3&
D%F$%&6?5&P(*%:?5&>,&*?A$,(:?&Y&%F%>RE$F?5L&S%6,5&#,F;?(,53&F?:H6=Y,:&,:&
=:% & F=6;=(% & =:$#,(5$;%($% & >, & (%5*?5 & 5$:*=6%(,53 & ,: & 6?5 & ;$,E9?5 & >,&
*,(,:F$%E$,:;?&>,&6%5&$:5;$;=F$?:,5&>,&,>=F%F$P:&5=9,($?(&,:&6%&8(*,:;$:%L&
!?&@=,&E,&9(?9?:*?&,5&(,6,,(&%@=,66%5&,5F($;=(%5&9,:5%:>?&:=,#%E,:;,&6%&
F,:;(%6$>%>&>,6&F?:F,9;?&%(,:>;$%:?&>,&%FF$P:3&;%:;?&F?E?&6%5&F(";$F%5&%&6%5&
=;?9"%5&9(?>=F;$#$5;%5&>,&I%A,(E%53&9%(%&$:;,:;%(&5?5;,:,(&@=,&9(,F$5%E?5&
>,596%J%(:?5 & D%F$% & ?;(%5 & F%;,*?($J%F$?:,5 & Y & 9(?A6,E%;$J%F$?:,5 & ;,P($F%5&
@=,&:?5&9,(E$;%:&(,<9?6$;$J%(&,6&;(%A%X?&>,&6?5&9(?H,5?(,5&,:&6%&1:$#,(5$>%>L&
Q(,;,:>?&,N9?:,(&@=,&6?5&%9?(;,5&>,&=:%&H$6P5?H%&H,E$:$5;%3&%&5%A,(&b%:FY&
)(%5,(3&:?5&9,(E$;$("%&9,:5%(&F(";$F%E,:;,&.Y&9?;,:F$%(&%5"&6%&9?6$;$F$>%>&>,&
6% & %FF$P:7 & 6%5 & >,5%(;$F=6%F$?:,5 & ,N$5;,:;,5 & ,:;(, & 6%5 & $>,:;$>%>,5 & @=, & 6?5&
9(?H,5?(,5 & %5=E,: & ,: & 6?5 & F=(5?5 & >, & %FF$P: & 5$:>$F%63 & %F%>RE$F%3 & 9?6";$F%L&
K?5;,:>(R & @=, & 6?5 & %9?(;,5 & ;,P($F?5 & >, & >$FD% & %=;?(% & 9=,>,: & (,5=6;%( & >,&
(,6,#%:F$%&9%(%&,5;=>$%(&F(";$F%E,:;,&,6&;(%A%X?&>?F,:;,&,:&6%&1:$#,(5$>%>,5&
%;(%#,5%:>? & 6%5 & H(?:;,(%5 & >, & 6%5 & $>,:;$>%>,5 & F?(9?(%;$#%53 & 9(?H,5$?:%6,53&
$:5;$;=F$?:%6,5L
.;<;D>;?'A<;=C8&S(%A%X?&>?F,:;,3&/>=F%F$P:&5=9,($?(
%:%9=;U*E%$6LF?E
)!*+*01-'(-2"&)"'"'!""#)!3)3!*45-'(-'M%"!2*(-N'(*'
"(32*45-'#3."!6-!
89%(,F$>%&S$(%>,:;,5&-&.)e_VZ1x3&4(%5$67
_&;(%A%6D?&%:%6$5%&?5&,H,$;?5&>%&(,,5;(=;=(%BG?&9(?>=;$#%&:?&`E,(F%>?a&>%&
/>=F%BG? & K=9,($?( & 5?A(, & ? & ;(%A%6D? & >?F,:;,L & 8A?(>%E?5 & ,6,E,:;?5&
>,;,(E$:%:;,5&>%&9(,F%($J%BG?&9?=F?&%A?(>%>?53&F?E?c&$:;,(:%F$?:%6$J%BG?&
9?(&%A,(;=(%&%?&E,(F%>?&>,&F%9$;%$53&F?:5?6$>%BG?3&F?:F,:;(%BG?&>,&F%9$;%63&
E=>%:B%&>,&*,5;G?&9,6?&>,56?F%E,:;?&>,&9%(;,&>%&,5H,(%&>,&9(?>=BG?&>,&
#%6?(&9%(%&%&(,E=:,(%BG?&>?&F%9$;%6&H$F;"F$?3&%F,:;=%:>?&%&5=A?(>$:%BG?&>?&
;(%A%6D?&>?F,:;,L&4=5F%E?5&%&%9(,,:5G?&>%&>$:]E$F%&>%&6=;%&D,*,Ep:$F%3&
%:%6$5%:>? & % & (,6%BG? & /5;%>?<K?F$,>%>, & V$#$63 & ?A5,(#%:>? & % & (,6%BG? & ,:;(,&
,5H,(%5&>?&/5;%>?3&F?E?&?&'/V&,&%&)(,:;,&Q%(6%E,:;%(&,E&[,H,5%&>?&/:5$:?&
K=9,($?( & Q($#%>?3 & , & %5 & >% & K?F$,>%>, & V$#$6 & (,9(,5,:;%:;,5 & >? & `E,(F%>?&
/>=F%F$P:%6a3&F?E?&)P(=E&>%&!$#(,&e:$F$%;$#%&,&%&84'/KL&8:%6$5%E?5&5,;?(&
9($#%>? & 9?( & 5,( & %6$ & @=, & 5, & F?:F,:;(% & % & H?(E%BG? & 5=9,($?(c & tj† & >%5&
$:5;$;=$BC,5&A(%5$6,$(%5&>,&/>=F%BG?&K=9,($?(&5G?&9($#%>%5&,&os†&>?5&%6=:?5&
>,5;,&:"#,6&,5;G?&E%;($F=6%>?5&:,5;%5&$:5;$;=$BC,5L
.;<;=>;? ' AB;=C8& />=F%BG? & 5=9,($?(3 & ;(%A%6D? & >?F,:;,3 & Q(,F%($J%BG? & >?&
;(%A%6D?
%95%:;?5UH$?F(=JLA(
)!*+*01-'(-2"&)"'&*'"(32*45-'#3."!6-!8')"&(Z&26*#'&*'
.!-(345-'*2*(Z%62*'("'/``w@]aapK
'%($%&Z?5$E%(Y&K?%(,5&>?5&K%:;?5&.1)'23&4(%5$67
I%66,Y&KF%(6,;&86E,$>%&.1)'23&4(%5$67
/5;,&;(%A%6D?&%9(,5,:;%&(,5=6;%>?5&9%(F$%$5&>%&9,5@=$5%&`S(%A%6D?&[?F,:;,&
, & `V%9$;%6$5E? & 8F%>OE$F?ac & Q?6";$F%5 & 1:$#,(5$;W($%5 & mttg<ijjka3 & %9?$%>%&
9,6%&QZQw01)'2L&8&,;%9%&>?&,5;=>?&%@=$&(,*$5;(%>%&R&H(=;?&>?&6,#%:;%E,:;?&
, & %:W6$5, & >% & 9(?>=BG? & %F%>OE$F?<F$,:;"H$F% & :%F$?:%6 & 5?A(, & ? & ;,E% & :?&
9,("?>?&>,&mttg&%&ijjvL&8&9%(;$(&>?&6,#%:;%E,:;?&>%&9(?>=BG?&%F%>OE$F%&
.;,5,5 & , & >$55,(;%BC,57 & , & >, & %(;$*?5 & ,E & 9,($P>$F?5 & :%F$?:%$53 & 9(,;,:>,<5,&
$>,:;$H$F%( & %5 & %6;,(%BC,5 & :? & ;(%A%6D? & >?F,:;, & :% & ,>=F%BG? & 5=9,($?(&
%:%6$5%:>?&%5&9($:F$9%$5&;,:>O:F$%5&?A5,(#%>%5&:%&9(?>=BG?&%F%>OE$F%&%?&
6?:*?&>%5&>=%5&M6;$E%5&>RF%>%5L&V?E&,55,&?AX,;$#?&H?$&F?:5=6;%>?&?&A%:F?&
>, & ;,5,5 & , & >$55,(;%BC,5 & >? & Q?(;%6 & >% & V8Q/K & , & %(;$*?5 & 9=A6$F%>?5 & ,E&
9,($P>$F?5&:%F$?:%$5L&_&?AX,;$#?&F,:;(%6&>%&9,5@=$5%&F?:5$5;,&,E&$>,:;$H$F%(&
, & %:%6$5%( & %5 & ;(%:5H?(E%BC,5 & >? & ;(%A%6D? & >?F,:;,3 & F?:5$>,(%:>? & %5&
%6;,(%BC,5 & 5?H($>%5 & 9,6%5 & e:5;$;=$BC,5 & ),>,(%$5 & >, & /:5$:? & K=9,($?( & < & e)/K3&
9(?#?F%>%5 & 9,6% & (,H?(E% & >? & /5;%>? & , & 9,6%5 & 9?6";$F%5 & >, & %X=5;, & ,5;(=;=(%6&
$E96%:;%>%5 & :? & 9%"5 & % & 9%(;$( & >% & >RF%>% & >, & mttjL &_ & 6,#%:;%E,:;? & >%&
9(?>=BG?&%F%>OE$F?<F$,:;"H$F%&R&=E%&,;%9%&9(,6$E$:%(&,&$E9?(;%:;,&9%(%&?&
,5;=>? & ,E & H?F?3 & %;(%#R5 & >% & E,;?>?6?*$% & =;$6$J%>% & A=5F?=<5, & #,($H$F%( & ,&
%:%6$5%( & ? & @=, & >$J,E & %5 & 9,5@=$5%5 & F?:;,E9?(]:,%5 & 5?A(, & ? & ;(%A%6D?&
>?F,:;,3&,3&H=:>%E,:;%6E,:;,3&$>,:;$H$F%(&%5&9($:F$9%$5&F%;,*?($%5&%:%6";$F%5&
=;$6$J%>%5 & 9,6?5 & 9,5@=$5%>?(,5 & ,E & 5=%5 & $:#,5;$*%BC,5 & , & 5, & ;%$5 & ,5;=>?5&
(,#,6%E&E=>%:B%5&:%&F?:H$*=(%BG?&>?&;(%A%6D?&>?F,:;,&:?5&M6;$E?5&%:?5L
.;<;=>;? ' AB;=C8& ;(%A%6D? & >?F,:;,3 & (,H?(E% & >? & /5;%>?3 & 9?6";$F%5&
=:$#,(5$;W($%5L
'LZ?5$E%(YU*E%$6LF?E
D%66,Y5FU*E%$6LF?E
)!*+*01-'(-2"&)"'&-'"&#6&-'#3."!6-!8'*&I06#"'(*#'
2-&(649"#'("'#*$("'"'("')!*+*01-'"%'6&#)6)3649"#'.!6G*(*#
[,:$5,&4,55%&!R>%&.1)'83&4(%5$67
[,$5,&'%:F,A?&.1/Z\3&4(%5$67
/5;,&,5;=>?&9(?9C,<5,&^&%:W6$5,&>?&;(%A%6D?&>?5&>?F,:;,5&>%5&$:5;$;=$BC,5&
9($#%>%5&>,&,:5$:?&5=9,($?(&.eQ/K7&:?&4(%5$6L&85&E%:$H,5;%BC,5&H,:?EO:$F%5&
>% & (,%6$>%>, & 9,5@=$5%>% & H?(%E & ? & 9?:;? & >, & 9%(;$>% & >% & $:#,5;$*%BG?3 & @= & ,&
E,>$%>%5&9,6?&F%E9?&;,P($F?&9(?>=J$(%E&%#%:B?5&F?:F,$;=%$5&5?A(,&?&;,E%&
,E & @=,5;G?L & b?5 & >$5F=(5?5 & >?5 & 9(?H,55?(,5 & H?$ & 9?55"#,6 & 9,(F,A,( & %5&
$:ME,(%5 & >$H$F=6>%>,5 & #$#$>%5 & 9,6?5 & ;(%A%6D%>?(,5 & :%5 & eQ/K3 & 9?( & F?:;% & >%&
6P*$F% & >?5 & F?:;(%;?5 & 9(?#$5P($?5 & , & H6,N"#,$5 & ,3 & F?:F?E$;%:;,E,:;,3 & >,&
5%6W($?5 & 9(?#$5P($?5L & b? & F?:;,N;? & %;=%63 & ?5 & ;(%A%6D%>?(,5 & F?:#$#,E & F?Ec&
(,5;($BC,5&$E9?5;%5&9,6?&;(%A%6D?&9(,5F($;?T&F=6;=(%&?(*%:$J%F$?:%6&$:H6,N"#,6T&
$:;,:5?& =5?& >, & ,5;(%;R*$%5 &>, &>,H,5% &$:>$#$>=%$5 &, &F?6,;$#%5T & %=5O:F$% &>,&
(,F?:D,F$E,:;?&,&,#?6=BG?&;,F:?6P*$F%&9(?>=J$:>?&$:;,:5$H$F%BG?&>%&F%(*%&
>, & ;(%A%6D?L & /55,5 & ,6,E,:;?5 & >,5,:F%>,$%E & #$#O:F$%5 & >, & 5?H($E,:;? & :?&
;(%A%6D%>?(&@=,3&E=$;%5&#,J,53&9,(F,A,&;%$5&5$;=%BC,5&9,6?&F?(9?3&,EA?(%&
:,E&5,E9(,&,6%5&5,X%E&;G?&:";$>%5&,&$>,:;$H$F%>%5&%9,:%5&:?&]EA$;?&H"5$F?L&
/55, & F?:;,N;? & >, & $:5,*=(%:B% & , & F?:5;(%:*$E,:;?5 & H?$ & %6#? & >, & $:ME,(%5&
@=,$N%5&9,6?5&,:;(,#$5;%>?53&?&@=,&>,E?:5;(%&@=,&%9,5%(&>%&5=AE$55G?&%?&
E,5E?3 & >% & :G? & ,N; & ,(:%6$J%BG? & >%5 & (,F6%E%BC,53 & >% & 5,:5%BG? & >,&
$E9?;O:F$%&>$%:;,&>?5&9(?A6,E%5&,&>,5%H$?5&,&>,&;?>%5&%5&>,H,5%5&*,(%>%5&
9%(%&>%(&F?:;%&>?&F?;$>$%:?&>,&;(%A%6D?3&5=%5&%:W6$5,5&>,&;%6&F?:;,N;?&5G?&
(,96,;%5&>,&>%>?5&F?:F(,;?5&,&F(";$F%5L
.;<;=>;? ' AB;=C8& S(%A%6D? & >?F,:;,3 & />=F%BG? & K=9,($?(3 & K%M>, & >?5&
9(?H,55?(,5
>,:$5,A6U=?6LF?ELA(
>,$5,LE%:F,A?U*E%$6LF?E
3&6G"!#6(*("'"'!"7-!%*'("'"#)*(-
Z,*$:%&VR6$%&I%A$A&€$9$,5{$&Q%>$6D%&-&.1beV/bSZ_3&4(%5$67
8&=:$#,(5$>%>,&R&=E&,59%B?&@=,&;,E&,5;(,$;%&(,6%BG?&F?E&%&5?F$,>%>,3&?&
/5;%>?3 & ? & E?>? & >, & 9(?>=BG?3 & ? & 9(?X,;? & >, & :%BG? & , & F?E & ? & E?>,6? & >,&
>,5,:#?6#$E,:;?L&V?E?&$:5;$;=$BG?&5?F$%63&F$,:;"H$F%&,&,>=F%;$#%&,6%&;,E&5=%&
$>,:;$>%>,&F%6F%>%&,E&#%6?(,53&9($:F"9$?5&,&E?>?5&?(*%:$J%F$?:%$5&@=,&6D,&
5G?&9,F=6$%(,5L&/:F%E$:D%E,:;?5&:?&5,:;$>?&>,&A=5F%(&%&(%F$?:%6$J%BG?&>%&
=:$#,(5$>%>,&A(%5$6,$(%&#OE&5,&E%:$H,5;%:>?&:%5&M6;$E%5&>RF%>%5&,&,5;,5&
>,F?((,E3&%&:?55?&#,(3&>%5&E=>%:B%5&?F?(($>%5&:?5&9(?F,55?50E,(F%>?&>,&
;(%A%6D?3&:?5&9(?>=;?5&,&9%>(C,5&>,&F?:5=E?L&/5;,&;,N;?&9(,;,:>,&>$5F=;$(&
%6*=:5&>?5&H,:pE,:?5&@=,&9,(9%55%E&?&;(%A%6D?&>?F,:;,&:%&=:$#,(5$>%>,&
A(%5$6,$(% & , & F?E? & ,6,5 & 5, & $:;,((,6%F$?:%E & >$%6,;$F%E,:;, & H?(E%:>? & =E%&
(,>,&F?:;(%>$;P($%&@=,&5,&$EA($F%&E=;=%E,:;,L&S%6&9(,;,:5G?&:?5&$E9C,&=E&
>,5%H$?3&9?$5&>$5F=;$(&;(%:5H?(E%BC,5&:%&(,%6$>%>,&:%&@=%6&,5;%E?5&$E,(5?5&
:G? & F?:5;$;=$ & =E% & ;%(,H% & HWF$6L & S?>% & >$H$F=6>%>, & (,5$>, & :? & H%;? & >, & @=,&
H?(E=6%BC,5&%&5,=&(,59,$;?&,N$*,E&=E%&9,(F,9BG?&F=$>%>?5%&>,&E=>%:B%5&
%$:>%&,E&F=(5?3&F?E?&;%EARE&>,&=E%&%:W6$5,&@=,&#W&%6RE&>%@=$6?&@=,&R&
%9%(,:;, & , & @=, & F?:5$*% & ,5;%A,6,F,( & %5 & (,6%BC,5 & ,:;(, & ? & 9%(;$F=6%( & , & ?&
=:$#,(5%6L
.;<;=>;?'AB;=C8&/>=F%BG?&5=9,($?(3&S(%A%6D?&>?F,:;,3&/5;%>?L
","'`
"H."!6"&26*'("'#6#)"%*)6E*26-&'"&'0*#'*2*("%6*#''*(3&6'b'
2"#*!'G*00",8:>(R5&Z?A,(;&/59"($;=&8#$6%&.1VI3&Q,(M7&
8 & :$#,6 & e:;,(:%F$?:%6 & D%Y & =:% & F($5$5 & E=:>$%63 & 9(?>=F;? & >, & 6% & %:%(@="%&
,F?:PE$F%&>,6&F%9$;%6$5E?3&@=,&%*=>$J%&6%5&>$H,(,:F$%5&,:;(,&6?5&9%"5,5&($F?5&
Y & 6?5 & 9%"5,5 & 9?A(,5L & 8 & :$#,6 & :%F$?:%63 & =: & 5$5;,E% & :,?6$A,(%63 & @=, & 5$(#, & %&
$:;,(,5,5&%X,:?5&%&6%5&*(%:>,5&E%5%5&>,&;(%A%X%>?(,53&Y&=:%&,>=F%F$P:&,:&
F($5$5&9,(E%:,:;,3&,:&6%&@=,&5,&E=,5;(%&=:%&9(,?F=9%:;,&&A(,FD%&,:;(,&6%&
,>=F%F$P: & AW5$F% & Y & 6% & =:$#,(5$;%($%3 & A(,FD% & ,: & 6% & @=, & =A$F%E?5 & 6?5&
,NWE,:,5 & >, & %>E$5$P:3 & F=Y% & (,5?6=F$P: & $E96$F% & =: & %6;? & :$#,6 & %F%>RE$F?3&
@=,&6%&E%Y?("%&>,&,5;=>$%:;,5&>,&5,F;?(,5&9?9=6%(,5&:?&9=,>,&%FF,>,(&9?(&
6%&H?(E%F$P:&@=,&D%:&;,:$>?&,:&6%&,>=F%F$P:&AW5$F%3&>,A$>?&%&6%&F($5$5&>,&6%&
,>=F%F$P: & 9MA6$F%3 & %=:@=, & ,6 & 5,F;?( & 9($#%>? & :? & ,5 & $:E=:, & % & ,5;% & F($5$5L&
e:5,(;%>? & ,: & ,5;, & F?:;,N;? & 5, & ,:F=,:;(% & 6% & e:5;$;=F$P: & 9(, & =:$#,(5$;%($%&
8>=:$&Y&VR5%(&+%66,X?3&6%&9($E,(%&?($,:;%>%&9%(%&9?5;=6%:;,5&%&6%&=:$#,(5$>%>&
>,&K%:&'%(F?5&Y&%H$:,5&Y&6%&5,*=:>%&%&6%&1:$#,(5$>%>&>,&e:*,:$,("%T&,5;%5&
5=(*,:&F?:&6%&$:;,:F$P:&>,&%9?Y%(&%&6?5&,5;=>$%:;,5&@=,&9(?#$,:,:&>,&6?5&
5,F;?(,5&9?9=6%(,53&9%(%&@=,&9=,>%:&>,5%((?66%(5,&%F%>RE$F%E,:;,&Y&>%(&
,:&H?(E%&,N$;?5%&5=&,N%E,:&>,&%>E$5$P:3&%&6%&#,J&F?:;($A=$(&,:&H?(E%(6,5&
=:%&F?:F$,:F$%&F(";$F%&9%(%&@=,&9=,>%:&F?E9(,:>,(&E,X?(&6%&(,%6$>%>&5?F$%6L&
.;<;D>;?@2<;=C?8&5$5;,E%;$J%F$P:&>,&,N9,($,:F$%53&9(,<=:$#,(5$;%($?3&
:,?6$A,(%6$5E?L
%:>(,5,%,U*E%$6LF?E
*'7-!%*45-'2-&)6&3*(*'("'(-2"&)"#'"%'#"!G64-8'&-G-#'
!3%-#'"'&-G*#'."!#."2)6G*#'#3+#6(6*(-#'."0*'."(*:-:6*'
16#)F!62-@2!O)62*
26W=F$%&K$*:?(,66$&>,&w=,$(?J&2?:B%6#,5&.1)1&0)8VeQ3&4(%5$67
&
_ & 9(,5,:;, & ;(%A%6D? & 9(,;,:>, & F?:;($A=$( & 9%(% & =E% & ,9$5;,E?6?*$% & >%&
H?(E%BG? & >?F,:;,3 & >$5F=;$:>? & 9($:F"9$?5 & ;,P($F?<E,;?>?6P*$F?5&
>,5,:F%>,%>?(,5 & >% & H?(E%BG? & >, & 9(?H,55?(,53 & % & 9%(;$( & >% & 9(,5,:;,&
9,5@=$5%<%BG?L & Q(,;,:>,=<5, & >,5,:#?6#,( & =E & 9(?F,55? & >, & H?(E%BG?&
F?:;$:=%>% & ,E & 5,(#$B?3 & @=, & ,5;$E=6%55, & % & %:W6$5, & F(";$F% & , & % & (,H6,NG?&
9,(E%:,:;, & 5?A(, & %59,F;?5 & >% & (,%6$>%>, & ,5F?6%(3 & %6RE & >, & ;(%J,(&
F?:;($A=$BC,5 & @=, & 9?55%E & 5,(#$( & 9%(% & ?($,:;%( & % & H?(E%BG? & F?:;$:=%>% & >,&
>?F,:;,5L&_5&>%>?5&H?(%E&?A;$>?5&%&9%(;$(&>%&,:;(,#$5;%&,&>%&?A5,(#%BG?&>%&
>$:]E$F%&>,&=E&*(=9?&>,&,5;=>?5&H?(E%>?&9,6%5&>?F,:;,5&>,&=E%&,5F?6%&
>,&,:5$:?&H=>%E,:;%6L&8&%:W6$5,&>?5&>%>?5&H?$&?($,:;%>%&9,6%&9,(59,F;$#%&
D$5;P($F?<F(";$F%3 & F=X?& 9?:;? & >, & 9%(;$>% & R & %& 9(W;$F% & 5?F$%6 & >%5 & 9(?H,55?(%53&
9(?A6,E%;$J%:>?<% & , & $:5;(=E,:;%6$J%:>? & %5 & 9%(;$F$9%:;,5 & 9%(% & =E%&
E=>%:B%&:%&9(W;$F%&>%&%#%6$%BG?3&%9P5&=E&9(?#W#,6&E,F%:$5E?&>,&F%;%(5,3&
(,;?(:%:>?3 & %? & H$:%63 & ^ & :?#% & 9(W;$F% & 5?F$%6L & _5 & (,5=6;%>?5 & $:>$F%E & @=, & ?&
9(?F,55? & >, & H?(E%BG? & F?:;$:=%>% & ?9?(;=:$J?= & ^5 & >?F,:;,5 & :?#%5&
5$*:$H$F%BC,5 & 9%(% & % & 9(W;$F% & %#%6$%;$#%3 & 9,6? & H%;? & >, & ? & *(=9? & ;,(&
9?;,:F$%6$J%>? & 5=%5 & H%6%53 & 9,(E$;$:>?3 & 9?( & E,$? & >% & (,H6,NG?3 & % & 9(?>=BG?&
F?6,;$#% & >, & F?:D,F$E,:;?5L & Q%(;$:>? & >? & 9($:F"9$? & >, & @=, & % & 9(W;$F% & >%5&
9(?H,55?(%5&R&$:;,(:%6$J%>%&:?&5,=&9(?F,55?&>,&H?(E%BG?3&%&9,5@=$5%&E?5;(%&
%&%(;$F=6%BG?&,:;(,&?&>,6$:,%E,:;?&>,&%6;,(:%;$#%53&@=,&(,,5;(=;=(%E&,55%&
9(W;$F%&,&?&>,5,:#?6#$E,:;?&9(?H$55$?:%6&>%5&>?F,:;,5L
.;<;=>;?@AB;=C8& )?(E%BG? & F?:;$:=%>% & ,E & 5,(#$B?3 & Q(W;$F% & %#%6$%;$#%3&
[?F,:;,
*6%=F$%U9?:;%6L=H=LA(
*'."#L36#*'"%')!*+*01-'(-2"&)"'&*'*&."(8'3%'"#)3(-'
#-+!"'*'.!-(345-'(-':)'a`'&-'."!O-(-'("']aa^@]aap
€$66$%E&Q,55p%&>%&'?;%&\M:$?(&.1)Q83&4(%5$67
8:>(R&!=$5&>?5&K%:;?5&S%#%(,5&.1)Q83&4(%5$67
_&9(,5,:;,&%(;$*?&A=5F%&%:%6$5%(&%5&9(?>=BC,5&F$,:;"H$F%5&>?&2(=9?&S,EW;$F?&
jt & < & S(%A%6D? & , & />=F%BG? & - & (,H,(,:;, & ^ & F%;,*?($% & `S(%A%6D? & [?F,:;,a&
%9(,5,:;%>%5 & :%5 & (,=:$C,5 & %:=%$5 & >% & 855?F$%BG? & b%F$?:%6 & >, & QP5<
2(%>=%BG?&,&Q,5@=$5%&,E&/>=F%BG?&.8bQ/[7&>=(%:;,&?&9,("?>?&@=,&#%$&>?&
%:?&>,&ijjs&%&ijjvL&b?55%&$:#,5;$*%BG?&F,:;(?=<5,&,E&;?(:?&>%&%:W6$5,&>%5&
?9BC,5 & ;,P($F?<E,;?>?6P*$F%53 & 9(?F,>$E,:;?5 & , & F?:F6=5C,5 & >%5 & 9,5@=$5%5&
9(?>=J$>%53 &>,;%6D%:>?&%5 & F?:#,(*O:F$%5& , &>$#,(*O:F$%5 &,:;(, &?5 &%=;?(,5&
%F,(F% & >? & ;$9? & >, & %A?(>%*,E & ,9$5;,E?6P*$F%3 & >%5 & F%;,*?($%5 & ;,P($F%5&
,E9(,*%>%5 & , & >?5 & ER;?>?5 & , & ;RF:$F%5 & =;$6$J%>?5 & 9%(% & % & ,6%A?(%BG? & >?5&
(,6%;P($?5&>,&9,5@=$5%&,&%(;$*?5&5?A(,&%&;,EW;$F%&,E&@=,5;G?L&89?:;%(,E?5&
%5&;,:>O:F$%5&@=,&?5&%=;?(,5&>?5&5,;,&%(;$*?5&9(?>=J$>?5&5?A(,&`S(%A%6D?&
[?F,:;,a & $:>$F%E & F?E? & 9,(59,F;$#% & F?E & (,6%BG? & %? & ?AX,;? & >, & ,5;=>?3&
%#%6$%:>?&F($;$F%E,:;,&%&:%;=(,J%&>?&;(%A%6D?&>?F,:;,3&5=%5&(,6%BC,5&F?E&
%5 & 9?6";$F%5 & 9MA6$F%5 & />=F%F$P:%$5 & , & %5 & $E96$F%BC,5 & 9%(% & ? & ;(%A%6D? & >?5&
9(?H,55?(,5L&&
.;<;=>;?@AB;=Cc&S(%A%6D?&[?F,:;,T&Q,5@=$5%&/>=F%F$P:%63&8bQ/[L
|$66zE?;%UY%D??LF?ELA(
*&I06#"'(-')!*+*01-'(-2"&)"'"%'20*##"'%30)6##"!6*(*8'3%*'
"#)!*)_:6*'%")-(-0F:62*
2=5;%#?&4(=:?&4$F%6D?&2?:B%6#,5&.2/KSZ8[_01)'23&4(%5$67
_ & ?AX,;$#? & >,5;, & ;(%A%6D? & R & %:%6$5%( & % & =;$6$J%BG? & >, & =E% & E,;?>?6?*$% & >,&
5,E$:W($?&9%(%&9(?E?#,(&%&%:W6$5,&>?&9(P9($?&;(%A%6D?3&9?(&;(%A%6D%>?(,5&
>?F,:;,5&(=(%$5&,&%55$E&5=A5$>$%(&%&>$5F=55G?&5?A(,&9?6";$F%5&9MA6$F%5&9%(%&%&
,>=F%BG?&>?&F%E9?L&Q%(%&;%:;?&?5&9(?H,55?(,5&5G?&F?:#$>%>?5&%&>$5F=;$(&5=%&
F?:>$BG?&>,&;(%A%6D%>?(,5&,&%5&:?#%5&>,E%:>%5&9,(F,A$>%5&9,6%&FD,*%>%&
>, & =E & 9(?*(%E% & ,59,F"H$F? & 9%(% & %5 & F6%555,5 & E=6;$55,($%>%5 & (=(%$53 & ?&
Q(?*(%E% & /5F?6% & 8;$#%3 & %? & 5,= & E=:$F"9$?L & _ & 5,E$:W($? & H?$ & ,5;(=;=(%>? & >,&
E?>? & % & 9,(E$;$( & ,N96?(%( & @=,5;C,5 & (,6%F$?:%>%5 & ^5 & E=>%:B%5 & :%&
?(*%:$J%BG?&>?&;(%A%6D?&,:*,:>(%>%5&9,6?&9(?*(%E%L&V?E?&,5;(%;R*$%&9%(%&
=E%&E%$?(&%9(?N$E%BG?&>?&9,5@=$5%>?(&F?E&%5&;(%A%6D%>?(%5&>?F,:;,5&>?&
E,$? & (=(%63 & =;$6$J?=<5, & ;RF:$F%5 & XW & >,5F($;%5 & 9,6% & 6$;,(%;=(% & 9%(% & % & %:W6$5,&
F?6,;$#% & >? & ;(%A%6D? & >?F,:;,3 & F?E? & ? & Z,6P*$? & ._!e+/eZ83 & ijjk73 & ? & Q%$:,6&
._!e+/eZ83&ijjk7&,&?&28K/&.S8Z[e)T&!/KK8Z[3&ijjs7L&_&ER;?>?&,E9(,*%>?&
H%F$6$;?= & % & $>,:;$H$F%BG? & >, & 5$;=%BC,5 & (,6%F$?:%>%5 & ^ & 9(W;$F% & >?F,:;,3&
#$#,:F$%>%5 & 9,6?5 & 9(?H,55?(,53 & , & %=N$6$?= & % & (,H6,NG? & F?:X=:;% & 5?A(, & %5&
F?:F,9BC,5 & >%5 & 9(?H,55?(%5 & 5?A(, & ? & 5,= & ;(%A%6D?3 & % & H?(E% & F?E? & 5,&
(,6%F$?:%E&F?E&?5&E,$?5&>,&;&(%A%6D?&>,&@=,&>$59C,&,&F?E&%5&9?6";$F%5&@=,&
(,*=6%E&?&H=:F$?:%E,:;?&>%&,5F?6%&,3&>,&H?(E%&E%$5&*,(%63&F?E&?&,:5$:?&:?&
9%"5L
.;<;=>;?@AB;=C8&/>=F%BG?&(=%63&S(%A%6D?&>?F,:;,3&',;?>?6?*$%&>,&
9,5@=$5%
*=5;%#?A(=:?A*U*E%$6LF?E
*#'."#L36#*#'#-+!"'-'.!-7"##-!8'L3"')"-!6*#'73&(*%"&)*%'
*#'!"70"H9"#'(-#'."#L36#*(-!"#'L3"'*&*06#*%'-'7"&o%"&-'
"(32*26F&*0'&*'!":65-'2"&)!-@-"#)"'(-'+!*#60Q
'%($5%&!?Ep:%F?&>,&Q%=6%&b%#,5&.)8V/[0QQ2/[01)13&4(%5$67
2,?#%:%&),((,$(%&',6?&S,$N,$(%&.)8V/[0QQ2/[01)13&4(%5$67
Q]E,66%&8A%>$%&Z,$5&.Qe4eV0)8Q/'e201)13&4(%5$67
/5;, & ,5;=>? & ;(%;% & >%5 & ;,?($%5 & />=F%F$P:%$5 & 9(,5,:;,5 & :%5 & >$55,(;%BC,5&
>,H,:>$>%5&:?5&9(?*(%E%5&>,&QP5<2(%>=%BG?&,E&/>=F%BG?&>?&V,:;(?<_,5;,&
A(%5$6,$(?3&,:;(,&mttt&,&ijjsL&b=E%&$:#,5;$*%BG?&F$,:;"H$F%&,E&,>=F%BG?3&?5&
(,H,(,:F$%$5&;,P($F?5&,5;%A,6,F,E&%&(,6%BG?&,:;(,&?&9(?A6,E%&>%&9,5@=$5%3&%&
H?(E% & F?E? & 5, & 9,:5% & ,N96?(W<6? & , & ?5 & (,5=6;%>?5 & ,59,(%>?53 & 5$;=%:>? & ?&
;(%A%6D?&:=E%&>,;,(E$:%>%&E%:,$(%&>,&,:H?F%(&%&@=,5;G?L&8?&,N96$F$;%(&%5&
H$6$%BC,5 & ;,P($F%5 & @=, & 6D,5 & 5,(#,E & >, & 5=9?(;, & 9%(% & %5 & ?A5,(#%BC,53&
(,H6,NC,53 & %:W6$5,5 & , & $:;,(9(,;%BC,53 & ?5 & 9,5@=$5%>?(,5 & ,N9C,E & =E%&
F?:F,9BG?&>,&,>=F%BG?3&>,$N%:>?&^&E?5;(%&5=%&F?E9(,,:5G?&>?&H,:pE,:?&
/>=F%F$P:%6L&8&E%$?($%&>%5&>$55,(;%BC,5&F?:5$>,(%>%5&:,5;,&,5;=>?&;?E%&%&
F?:F,9BG? & F(";$F% & >, & ,>=F%BG?3 & H=:>%>% & :? & 9,:5%E,:;? & >$%6R;$F?3 & F?E?&
A%5, & >, & %:W6$5, & >?5 & 9(?A6,E%5 & />=F%F$P:%$53 & ,#$>,:F$%:>? & =E%&
9(,?F=9%BG?&(,F?((,:;,&F?E&%&F?:;,N;=%6$J%BG?&5PF$?<D$5;P($F%3&A,E&F?E?&
% & F(,:B% & :% & 9?55$A$6$>%>, & >, & @=, & ;(%:5H?(E%BC,5 & :% & ,5F?6% & 9?55%E & 5,&
%(;$F=6%(&^5&;(%:5H?(E%BC,5&:%&5?F$,>%>,L&
.;<;=>;?@AB;=C8& F?:F,9BC,5 & >, & ,>=F%BG?3 & 9(?>=BG? & %F%>OE$F%3 & (,*$G?&
V,:;(?<_,5;,L&
E69:%#,5U=H=LA(
*,?#%:%UH%F,>L=H=LA(
9%E,66%jvktUD?;E%$6LF?E
*#'G-E"#'(-'2*%.-'&*#'%"%F!6*#'(*'6&7r&26*'"'(*'"#2-0*8'
"#.*4-#'("'7-!%*45-'23!#-'."(*:-:6*'(-'2*%.-'
[%#)V+!*#60\
b?,6$&+%6,:;$:%&€,5FD,:H,6>,(&.1be\1•3&4(%5$67
_ & %(;$*? & ;(%J & %6*=:5 & ,6,E,:;?5 & 9%(% & (,H6,NG? & :? & F%E9? & >% & ,>=F%BG?&
9?9=6%(3&;?E%:>?&F?E?&9?:;?&>,&9%(;$>%&?&;(%A%6D?&F?E&%&E,EP($%&:=E&
,59%B? & >, & H?(E%BG? & >?F,:;,L & 8 & ,N9,($O:F$% & #$#$>% & R & F?E9%(;$6D%>% & :?&
F?6,;$#?3 & @=%:>? & 5G? & 9(?A6,E%;$J%>%5 & F?:F,9BC,5 & F?E? & $>,:;$>%>, & ,&
,N9,($O:F$%3&%&9%(;$(&>%5&:%((%;$#%5&9,55?%$53&X=:;?&%?5&gk&,5;=>%:;,5&>?5&
E?#$E,:;?5&5?F$%$5&>?&F%E9?&@=,&H(,@n,:;%#%E&?&V=(5?&>,&Q,>%*?*$%&>?&
V%E9? & :? & /5;%>? & >? & Q%(%:W04(%5$6L & )?(%E & ?=#$>%5 & , & (,*$5;(%>%5 & #?J,5&
$:>$#$>=%$5&,&F?6,;$#%5&>,&D?E,:5&,&E=6D,(,5&@=,&%55=E$%E&5,=&9(?X,;?&>,&
H?(E%BG? & %F%>OE$F%3 & 9%(%6,6? & %? & 9(?F,55? & >, & 6=;% & ,E & H%#?( & >% & Z,H?(E%&
8*(W($%L & 8 & ,5F?6% & , & % & =:$#,(5$>%>, & 5G? & F?:5$>,(%>%5 & $:5;$;=$BC,5&
5?F$?F=6;=(%$53 & 9?;,:;,5 & ,59%B?5 & 9%(% &,5F=;% & >, & #?J,5 & %=5,:;,5 & :?5&
F=(("F=6?5&>,&H?(E%BG?&>,&9(?H,55?(,53&=E%&($F%&9?55$A$6$>%>,&9%(%&>$%6?*%(&
,&(,H6,;$(&5?A(,&?&@=,&:?5&,:5$:?=&Q%=6?&)(,$(,L&8&,N9,($O:F$%&>,&H?(E%BG?&,&
,5F?6%($J%BG?&F?:5;(=">%&,&#$#,:F$%>%&9,6?&'?#$E,:;?&>?5&8*($F=6;?(,5&K,E&
S,((%0'KS&R&E%(F?&(,H,(,:F$%6&9%(%&9?6";$F%5&>,&/>=F%BG?&>?&V%E9?L&b,55,&
5,:;$>?3 & DW &,:;,:>$E,:;? & >% & ,>=F%BG? & F?E? & =E & >$(,$;? & >, & ;?>?5 & ?5&
F%E9?:,5,5L&8&,5F=;%&,&?&(,*$5;(?&>%5&#?J,5&:?5&9(?F,55?5&H?(E%;$#?5&,&>,&
,5F?6%($J%BG?& 9?55$A$6$;% & (,E,E?(%( & , & F?E9%(;$6D%( & ,N9,($O:F$%53&
9?;,:F$%6$J%:>?&9(W;$F%5&:?&F%E9?&9,>%*P*$F?3&R;$F?&,&9?6";$F?L
.;<;=>;?'AB;=Cc&E,EP($%&-&H?(E%BG?&>,&9(?H,55?(,5&-&$>,:;$>%>,5&
:?,6$U=:$X="L,>=LA(
2-%.!"&("!'"0')!*+*,-'(-2"&)"'"&'"#23"0*#'%"(6*#'
.$+062*#'("'0*'*!:"&)6&*8'*.!-H6%*26-&"#')"F!62*#'.*!*'
*&*06E*!'#3'2-%.0",6(*(
[,6H$:%&+,$(%#R&.1bb/3&4(%5$67&
Q%;($F$%&[,6*%>?&.1bb/3&4(%5$67
'%($%:%&_X,>%&.1bb/3&4(%5$67
V6%=>$?&b=l,J&.1bb/3&4(%5$67&
/N9?:,E?5 & (,H6,N$?:,5 & ;,P($F%5 & Y & E,;?>?6P*$F%5 & 5=(*$>%5 & >, & 6%5&
,N9,($,:F$%5&>,&$:#,5;$*%F$P:&(,%6$J%>%5&5?A(,&,6&;(%A%X?&>,&6?5&>?F,:;,5&>,&
,5F=,6%5 & E,>$%5 & 9MA6$F%53 & ,: & =:% & 9(?#$:F$% & >, & 8(*,:;$:%L & Q(?9?:,E?5&
5?E,;,( & % & >$5F=5$P: & 6% & 9,(59,F;$#% & >, & %:W6$5$5 & F?:5;(=$>% & % & 9%(;$( & >, &=:&
F?:X=:;?&>,&F%;,*?("%5&F?:F,9;=%6,5&Y&(,6%F$?:,5&,E,(*,:;,5&>,&(,H,(,:;,5&
;,P($F?5&Y&>,6&F?(9=5&,E9"($F?&5=(*$>?&>,6&;(%A%X?&,:&;,((,:?L&
8A?(>%E?5 & :=,5;(? & ?AX,;? & >, & ,5;=>$? & >,5>, & =:% & 9,(59,F;$#% & 5$;=%F$?:%63&
D?6"5;$F% & Y & E=6;$((,H,(,:F$%6L & /5;=>$%E?5 & ,6 & ;(%A%X? & >?F,:;, & 9(?F=(%:>?&
F?E9(,:>,( & 6% & $:F$>,:F$% & >, & =:% & E=6;$96$F$>%> & >, & F?:>$F$?:,5 & @=, & 6?&
F?:H$*=(%:3 & (,H,($>?5 & % & 5= & H?(E%F$P: & Y & 5?F$%6$J%F$P: & 9(?H,5$?:%63 & % & 5=&
5=AX,;$#$>%>&Y&#$#,:F$%5&F?6,F;$#%53&%&6%5&$:5;$;=F$?:,5&Y&6?5&5=X,;?5&F?:&6?5&
@=,&;(%A%X%:3&%6&,5F,:%($?&5?F$%6&9(?#$:F$%6&,:&,6&@=,&:?5&=A$F%E?53&Y&%&6%5&
9?6";$F%5 & ,>=F%;$#%5 & @=, & D%: & $E9%F;%>? & ,: & ,6 & :$#,6 & E,>$? & Y & ,: & 6%&
F?:H?(E%F$P: & >,6 & 5$5;,E% & ,>=F%;$#?3 & F?: & 9%(;$F=6%( & (,H,(,:F$%3 & >,5>, & 6?5&
}tjL& &V?:5;(=$E?5&=:%&>,H$:$F$P:&%E96$%&>,&;(%A%X?&>?F,:;,3&$:F6=Y,:>?&,:&
,5;%&:?F$P:&;?>%5&%@=,66%5&%F;$#$>%>,5&@=,&5,&9(,5,:;%A%:&F?E?&H?(E%:>?&
9%(;,&>,6&@=,D%F,(&F?;$>$%:?&>,&6?5&9(?H,5?(,53&EW5&%66W&>,&@=,&,5;=#$,(%:&
H?(E%6E,:;, & (,F?:?F$>%5 & ,: & ,6 & 9=,5;? & >, & ;(%A%X?L & V?:5$>,(%( & ,6 & ;(%A%X?&
F?E?&=:&;$9?&>,&9(WF;$F%&5?F$%6&:?5&9,(E$;$P&F?E9(,:>,(&6%5&$:;,(,6%F$?:,5&
,:;(, & >$5;$:;?5 & 96%:?5 & >, & 9(?>=FF$P: & >,6 & H,:PE,:?L & 85" & E?5;(%( & FPE?&
9(?A6,EW;$F%5 & 5?F$?F=6;=(%6,53 & 9,>%*P*$F%5 & Y & ?(*%:$J%F$?:%6,53 & ,:&
$:;,(%FF$P: & F?: & 6?5 & ,5@=,E%5 & Y & F%;,*?("%5 & >, & 9,(F,9F$P:3 & #%6?(%F$P: & Y&
%F;=%F$P: & >, & 6?5 & 9(?H,5?(,53 & 5, & ,:;(%E%: & Y & % & 6% & #,J & 5?5;$,:,:&
F?:H$*=(%F$?:,5 & 6%A?(%6,5 & Y & ,N9,($,:F$%5 & ,5F?6%(,5 & 9%(;$F=6%(,5 & 9,(? & @=,&
(,F?:?F,:&,:;(,&5"&;%EA$R:&,6,E,:;?5&F?E=:,5L
.;<;D>;?'2<;=C8'S(%A%X?&>?F,:;,&-&/5F=,6%&E,>$%&-&V?:>$F$?:,5&>,&;(%A%X?
>#,$(%#,U*$*%(,>LF?E
9E%>,6*%>?UY%D??LF?EL%(
?(;$F,5U%(:,;LF?EL%(
F6%=>$?:=:,JikUD?;E%$6LF?E
2-&#6("!*26-&"#')"F!62*#'b'%")-(-0F:62*#'.*!*'"0'*&I06#6#'
("'0*#'!":30*26-&"#'("0')!*+*,-'(-2"&)"8'*.-!)"#'("'0*'
)!*(626F&'2!O)62*'"&'"(32*26F&'b'."(*:-:O*
&86,X%:>(?&+%55$6$%>,5&.14801b!Q3&8(*,:;$:%7
/5;% & 9?:,:F$% & 5, & 9(?9?:, & 9(,5,:;%( & %6*=:%5 & >$5F=5$?:,5 & F?:F,9;=%6,5 & Y&
E,;?>?6P*$F%5 & % & 9%(;$( & >, & =:% & $:#,5;$*%F$P: & ,: & F=(5? & %F,(F% & >, & 6%&
F?:5;(=FF$P:&>,&9?5$F$?:,5&>,&5=X,;?&@=,&6?5&>?F,:;,5&>,5%((?66%:&H(,:;,&%&
F?:>$F$?:,5 & >, & >,5$*=%6>%> & 5?F$%6 & Y & ,>=F%;$#%L & V?E? & 9%(;, & >,6 & ;(%A%X?&
(,%6$J%>? & ,: & ,6 & E%(F? & >, & =: & 9(?Y,F;? & >, & >?F;?(%>?3 & 5, & 9(,5,:;%(W: & =:%&
5,($,&>,&%9?(;,5&@=,&9?>("%:&(,%6$J%(5,&%&9%(;$(&>,&6%&(,#$5$P:&>,&%6*=:?5&
9(,5=9=,5;?5&>,&6%&;(%>$F$P:&F(";$F%&,:&,>=F%F$P:&Y&9,>%*?*"%&,:&,6&E%(F?&
>, & 6% & F?:5;(=FF$P: & >, & =:% & E$(%>% & 9?5,5;(=F;=(%6 & >,6 & ;(%A%X? & >, & ,:5,l%(L&
Q%(%&,66?3&5,&,5A?J%(W:&%6*=:%5&>,&6%5&F?:;($A=F$?:,5&EW5&$E9?(;%:;,5&>,&
6?5&,5;=>$?5&F=6;=(%6,53&,6&*$(?&F=6;=(%6&Y&,6&*$(?&6$:*n"5;$F?3&Y&6?5&%A?(>%X,5&
9?5E%(N$5;%5 & ,: & ;R(E$:?5 & >, & 6% & >,5,5;%A$6$J%F$P: & >, & %6*=:%5 & F,(;,J%5&
;,P($F%5&Y&E,;?>?6P*$F%5&E%:;,:$>%5&9?(&6%&E,:F$?:%>%&;(%>$F$P:L&/:&,5,&
E%(F?3&5,&,N96?(%(W:&6?5&;R(E$:?5&,:&6?5&@=,&>$FD%&>,5,5;%A$6$J%F$P:&(,5$;M%&
6%&:,F,5$>%>&>,&$:>%*%(&,;:?*(WH$F%&Y&F=%6$;%;$#%E,:;,&,:&,6&E?>?&,:&@=,&
5, & F?:5;(=Y, & 5?F$%6E,:;, & ,6 & E=:>? & ,5F?6%( & Y & ,: & 6%5 & 9?5$F$?:,5 & @=, & 6?5&
>?F,:;,5&F?:H$*=(%:&H(,:;,&%&6%&>,5$*=%6>%>&5?F$%6&Y&,>=F%;$#%L
.;<;D>;?@A<;=C8& S(%A%X? & >?F,:;,3 & Z,*=6%F$?:,5 & >,6 & S(%A%X? & >?F,:;,3&
[,5$*=%6>%>&5?F$%6&Y&,>=F%;$#%
%#%55$6$%>,5UF?:$F,;L*?#L%(
2-&)!6+3649"#'(*'*&I06#"'*!:3%"&)*)6G*'.*!*'-'"#)3(-'
#-+!"')!*+*01-'(-2"&)"
I,6,:$F,&'%$%&.1:$#,(5$>%>,&/5;WF$?&>,&KW3&4(%5$67
'?:$F%&Z%A,66?&>,&V%5;(?&.1:$#,(5$>%>,&/5;WF$?&>,&KW3&4(%5$67
86>%&\=>$;D&86#,5<'%JJ?;;$&.1:$#,(5$>%>,&/5;WF$?&>,&KW3&4(%5$67
S%(5?&4?:$6D%&'%JJ?;;$&.1:$#,(5$>%>,&/5;WF$?&>,&KW3&4(%5$67
8@=$&5G?&%9(,5,:;%>?5&?5&(,5=6;%>?5&>,&=E%&9,5@=$5%&9$6?;?&(,%6$J%>%&F?E&
9(?H,55?(,5&>?&,:5$:?&AW5$F?&>,&=E%&,5F?6%&#$:F=6%>%&^&(,>,&9MA6$F%&:?&Z$?&
>,&\%:,$(?L&_&(,H,(,:F$%6&%>?;%>?&%(;$F=6%&%&%A?(>%*,E&5PF$?<D$5;P($F%3&F?E&
F6":$F% & >% & %;$#$>%>, & , & % & ;,?($% & >%5 & (,9(,5,:;%BC,5 & 5?F$%$5 & 9?( & E,$? & >%&
%:W6$5,&%(*=E,:;%;$#%L&/5;,&9(?F,>$E,:;?&(,@=,(&@=,&?&5=X,$;?&>%&9,5@=$5%3&
=E & 9(?H,55?(3 & ,N%E$:, & % & 5=% & ,N9,($O:F$% & >?F,:;,3 & 9%(% & %9(,,:>,( & %&
F?E96,N$>%>,&>,&5,=&F?;$>$%:?3&5,=5&5%A,(,5&,&H%J,(,53&?&@=,&#$%A$6$J%&5,=&
>,5,:#?6#$E,:;? & 9,55?%6 & , & 9(?H$55$?:%6L & Q%(% & $55?3 & ? & 9($:F$9%6 & (,F=(5?&
E,;?>?6P*$F?&R&%&*(%#%BG?&,E&#">,?&>,&5$;=%BC,5&>,&;(%A%6D?&=;$6$J%>%5&,E&
5,55G?&>,&%=;?F?:H(?:;%BG?&5$E96,53&?:>,&?&5=X,$;?&%55$5;,&?&@=,&(,%6$J?=L&
Q%(% &% & %:W6$5, &>% & 9(?>=BG? & >$5F=(5$#% & R &=;$6$J%>? &? & '?>,6? &>% &/5;(%;R*$%&
8(*=E,:;%;$#%3 & @=, & #$5% & (,F?:5;(=$( & ?5 & %(*=E,:;?5 & >, & =E & F?(9=5&
>$5F=(5$#?L & V?:H(?:;%>% & F?E & 5=% & 9(W;$F%3 & D?=#, & E?E,:;?5 & ,E & @=, & %&
>?F,:;, & E=>?= & F6%(%E,:;, & >, & ?9$:$G? & %F,(F% & >, & 5=%5 & ,5;(%;R*$%53&
5=5;,:;%:>?3 & :% & E,5E% & 5,BG? & >, & %=;?F?:H(?:;%BG?3 & %(*=E,:;?5&
$:F?E9%;"#,$53&@=,&,6%&;?E?=&F?:5F$O:F$%&%?&,:=:F$%(&%&>$5F(,9]:F$%&,:;(,&
?&@=,&X=6*%#%&`,5;%(&H=:F$?:%:>?a&F?E&?&@=,&#,($H$F?=&%?&%55$5;$(&?&#">,?L&85&
>,F6%(%BC,5&>%&>?F,:;,&9,(E$;,E&,#$>,:F$%(&@=,&?&F=(5?&>,&H?(E%BG?&:G?&
H?(:,F,=&?5&E,$?5&F?:F,$;=%$5&9%(%&(,%6$J%(&5,=&;(%A%6D?L&
.;<;=>;? ' AB;=C8& /5;(%;R*$% & 8(*=E,:;%;$#%L & S(%A%6D? & [?F,:;,L&
Z,9(,5,:;%BC,5&K?F$%$5
D,6,E%$%U=?6LF?ELA(
(%A,66?E?:$F%U=?6LF?ELA(
%6>%E%JJ?;;$UY?6LF?ELA(
;%(5?E%JJ?;;$U=?6LF?ELA(
(-')"F!62-'*-'%")-(-0F:62-8'-!6"&)*49"#J'."!2".49"#'"'
"0*+-!*49"#'&*')!*,")F!6*'("'6&G"#)6:*45-'&-'2*%.-'(*'
2-&#)!345-'("'#*+"!"#'(-2"&)"#'&-'.!-2"##-'("'
#-26*06E*45-'.!-76##6-&*0'("'.!-7"##-!"#'(-'23!#-'("'
*(%6&6#)!*45-
'%(F$%:?&>,&86E,$>%&V=:D%&.Q1VKQ3&4(%5$67
!=F$%:%&'%($%&2$?#%::$&.Q1VKQ3&4(%5$67
85&9,5@=$5%5&5?A(,&%&>?FO:F$%&,E&F=(5?5&>,&8>E$:$5;(%BG?&%$:>%&5G?&E=$;?&
$:F$9$,:;,5 & :? & 4(%5$6L & /5;, & ;(%A%6D? & #$5% & F?6?F%( & ,E & ,#$>O:F$% & ? & 9,(F=(5?&
;,P($F?&E,;?>?6P*$F?&(,%6$J%>?&:=E%&9,5@=$5%&>,&>?=;?(%>?&,E&,>=F%BG?&
5?A(,&`e>,:;$>%>,&9(?H$55$?:%6&>,&>?F,:;,5&>?&/:5$:?&K=9,($?(&%;=%:;,5&:?&
F=(5? & >, & 8>E$:$5;(%BG?3 & 5,=5 & 5%A,(,5 & , & 5,=5 & 9(?F,55?5 & >, & 5?F$%6$J%BG?&
9(?H$55$?:%6aL&_&@=%>(? &;,P($F? &,&F?:F,$;=%6 &@=, &?($,:;?= &,5;%&9,5@=$5% &R&
?($=:>?&>?5&,5;=>?5&>,&[=A,;&.mttg7&5?A(,&K?F$?6?*$%&>%&/N9,($O:F$%3&>,&
[=A%( & .ijjs7 & 5?A(, & ? & 9(?F,55? & >, & 5?F$%6$J%BG? & , & >, & F?:5;(=BG? & >%5&
$>,:;$>%>,5 & 5?F$%$5 & , & 9(?H$55$?:%$5 & , & >, & S%(>$H & .ijji7 & 5?A(, & ?5 & 5%A,(,5&
>?F,:;,5L&4=5F?=<5,&%;(%#R5&>,5;,&F?E9(,,:>,(&?&9(?F,55?&>,&F?:5;(=BG?&
>?5&5%A,(,5&%55$E&F?E?&%5&;(%X,;P($%5&5PF$?<9(?H$55$?:%$5&,&`$>,:;$;W($%5a&>,&
9(?H,55?(,5 & >? & F=(5? & >, & *(%>=%BG? & ,E & 8>E$:$5;(%BG?L & 4=5F%<5,&
F?E9(,,:>,( & F?E? & ?5 & 5%A,(,5 & >?F,:;,5 & H?(%E & F?:5;(=">?5 & , & F?E? & 5G?&
E?A$6$J%>?5&%?&6?:*?&>%&;(%X,;P($%&9(?H$55$?:%6&,&%&F?:5;(=BG?&>%&$>,:;$>%>,&
>?F,:;,&%?&6?:*?&>?&9(?F,55?&>,&5?F$%6$J%BG?&9(?H$55$?:%6L&/59,(%<5,&9p(&,E&
,#$>O:F$%&%&F?E96,N%&,&:,F,55W($%&%(;$F=6%BG?&,:;(,&?&@=%>(?&F?:F,$;=%63&?&
$:5;(=E,:;? & >, & F?6,;% & >, & >%>?53 & % & ?(*%:$J%BG? & >%& *(%>, & >, & %:W6$5, & F?E&
#$5;%5&^&%9(,5,:;%BG?&>?5&>%>?5&:?&9(?F,55?&>,&9,5@=$5%L
.;<;=>;?@AB;=C8 'e>,:;$>%>, & 9(?H$55$?:%6T & 5%A,(,5 & >?F,:;,5T & E,;?>?6?*$%&
>%&9,5@=$5%T&,:5$:?&>,&%>E$:$5;(%BG?L
E%(F$%:?LF=:D%U9=F9(LA(
6E*$?#%::$U=?6LF?ELA(
"#"'G6*,"'L3"'"#'6&G"#)6:*!|
'%A,6%&Z=$J&4%(A?;&.1>,6%Z&-&8b/Q3&1(=*=%Y7
8 & 9%(;$( & >, & 6% & $:#,5;$*%F$P: & ,#%6=%;$#% & >, & =:% & ,N9,($,:F$% & >?F,:;, & ,: & 6%&
,5F=,6%&9($E%($%&>,&E$&9%"5&-1(=*=%Y<3&:%((?&6%&$:#,5;$*%F$P:&F?E?&`#$%X,aL&
8;(%#$,5?&6?5&F?:F,9;?5&>,&$:#,5;$*%F$P:&5?A(,&,>=F%F$P:&Y&,:&,>=F%F$P:3&
A=5F%:>? & =: & >$W6?*? & ,:;(, & 6%5 & F$,:F$%5 & >, & 6% & ,>=F%F$P:L & +$5=%6$J? & % & 6%&
$:#,5;$*%F$P: & ,: & ,6 & F%E9? & ,>=F%;$#? & F?E? & F%E9? & ,: & E?#$E$,:;?T & ?;(?L&
w=$JW5&Y%&:?&`F%E9?a3&Y&5"3&=:&,59%F$?&>?:>,&,6&?;(?&,5;WL&_;(?&,59%F$?3&
?;(%&6,:*=%L&!%&$6=5$P:&>,&>,596$,*=,&>,&=:&`:?5?;(?5a&@=,&%>E$;%&%6&?;(?&
F?E? & 9?5$A$6$>%>3 & @=, & ;(%A%X, & 6? & @=, & :?5 & 9%5% & F=%:>? & $:#,5;$*%E?5 & 6?&
,>=F%;$#?L & dQ?>,E?5 & 9,:5%( & 6% & $:#,5;$*%F$P: & ,>=F%;$#%3 & ;%EA$R:3 & F?E?&
,N9,($,:F$%f & dVPE? & ;(%:5H?(E%F$P: & >,6 & $:#,5;$*%>?(f & e:#,5;$*%( & 5,(W3&
%>,EW53&d;(%:5H?(E%(5, &Y&:%((%(&,5%&;(%:5H?(E%F$P:&>,&5"f&de:#,5;$*%E?5&
>,5>, & :=,5;(% & A$?*(%H"%3 & %6 & E$5E? & ;$,E9? & @=, & :?5 & F%6J%E?5 & :=,5;(?5&
J%9%;?5c & 6% & ? & 6%5 & >$5F$96$:%5 & ? & ,6 & $:>$5F$96$:%E$,:;?f & Š3 & d>,5>, & %66"&
9(?>=F$E?5 & F?:?F$E$,:;? & ,>=F%;$#?3 & F?:?F$E$,:;? & 5$,E9(, & D$5;P($F?3&
9(?#$5?($?f&86&$:#,5;$*%(&#$%X%:>?3&F=,:;?&6%&%6;,(%F$P:&>,&5"&,:&,6&F%E9?3&6%&
%H,F;%F$P:3&6%&9,(;=(A%F$P:L&Z,6%;?&6?&@=,&E,&9%5P3&;?FP&Y&F?:&6?&@=,&E,&
F?:;%F;R3&,6&5,:;$>?&>,&6%&,N9,($,:F$%L&!%&9?5$A$6$>%>&>,&9,:5%(&Y&5,:;$(&%6&
?;(?3 & >, & 9,:5%( & Y & 5,:;$( & F?: & ,6 & ?;(?3 & ,5, & ?;(? & @=, & 5, & #=,6#, & 9,>%*?*?&
E$,:;(%5 & $:#,5;$*%E?5 & H?(E%;$#%E,:;,L & !?5 & 5=X,;?5 & >, & 6% & ,N9,($,:F$%&
,>=F%;$#%&%F?E9%l%:&%6&$:#,5;$*%>?(&,:&5=&#$%X,3&5,&#=,6#,:&`9,>%*?*?5a&
>,&6?5&$:#,5;$*%>?(,5L&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&
.;<;D>;?@A<;=C8& e:#,5;$*%F$P: & ,: & ,>=F%F$P:3 & /N9,($,:F$% & ,>=F%;$#%3&
e:#,5;$*%>?(,5
E%A,6%L(=$JU*E%$6LF?E
6&#)6)36&(-'#6:&6762*(-#'("'M)!*+*01-'(-2"&)"N'.-!'%"6-'
("'(6##-26*45-'("'&-49"#
S%(5?&4L&'%JJ?;;$&.1b/K83&4(%5$67
V?E?&,E&@=%6@=,(&>,H$:$BG? &%&>, &`;(%A%6D?&>?F,:;,a&>,F?((, &>,&%6*=E%&
F?E9%(%BG?L & V?E9%(%<5, & ? & ;(%A%6D? & >?F,:;, & F?E & %6*=E% & >%5 & 9(?H$55C,5&
6$A,(%$5 & >,;,(E$:%:>? & ? & @=, & H%6;% & 9%(% & %@=,6% & #$( & % & 5,( & F?E? & ,5;%L & K,&
;(%A%6D?&>?F,:;,&H?(&F&?:5$>,(%>?&=E&,E9(,*?3&5,&?&F?E9%(%&F?E&?=;(?5&
,E&$:5;$;=$BC,5&5$E$6%(,5&?=3&%$:>%3&F?E&?5&9?5;?5&;(%A%6D?&,E&*,(%63&9?:>?&
,E & F,:% & % & :?BG? & >, & :G? & %=;?:?E$% & ?= & >, & %=;?:?E$% & (,5;($;%L & /5;%&
F?E9%(%BG?&;%EARE&9?>,&F?:>=J$(&^&F%(%F;,($J%BG?&>,&;(%A%6D?&?AX,;$#%>?&
,E & ?9?5$BG? & %? & 5=AX,;$#?3 & >,:;(, & ?=;(%5 & F?E9%(%BC,5L & _ & ?AX,;$#? & >,5;,&
%(;$*? & R & ,N9?( & %6*=E%5 & >,55%5 & F?E9%(%BC,5 & 9%(% & ,5A?B%( & =E% & (,#$5G?&
F?:F,$;=%6 & @=, & 9?>, & ?($*$:%( & %(*=E,:;?5 & E%$5 & 9,(;$:,:;,5 & % & (,59,$;? & >?&
;(%A%6D?&>?F,:;,L&_&@=,&H?$&(,%6$J%>?&9?(&=E%&%:W6$5,&>?&F?(9=5&>$5F=(5$#?&
>? & >,A%;, & F?:;,E9?(]:,? & %F,(F% & >, & `;(%A%6D? & >?F,:;,a3 & >? & @=%6 & H?(%E&
,N;(%">%5 & %5 & 9($:F$9%$5 & F?E9%(%BC,5 & , & %(*=E,:;?5L & bG? & %9(,5,:;? & =E%&
(,#$5G?&>?5&;(%A%6D?5&,&%=;?($%5&9?(&:G?&5,(&;(%;%(&>,&=E%&D,(E,:O=;$F%L&8&
%:W6$5,&,N96$F$;%&?&=5?&>%&;RF:$F%&%(*=E,:;%;$#%&>$55?F$%BG?&>,&:?BC,53&%&
@=,&,5;%A,6,F,&%&>$#$5G?&>,&=E%&:?BG?&=5=%6&,E&>?$5&;,(E?53&,E&@=,&?&
5,*=:>?&R&%9(,5,:;%>?&F?E?&?&96,:?&>,&@=%6$>%>,5&,&?&9($E,$(?&F?E?&?&
@=,&:G?&%5&9?55=$3&,5;%A,6,F,:>?&=E%&D$,(%(@=$%&,:;(,&5,=5&5$*:$H$F%>?5L&
.;<;=>;?@AB;=C8& ;(%A%6D? & >?F,:;,T & 5$*:$H$F%>?5 & >, & ;(%A%6D? & >?F,:;,T&
>$55?F$%BG?&>,&:?BC,5L
;E%JJ?;;$UE%FLF?E
-'0*+-!'(-#'.!-7"##-!"#'&*'G6(*'*2*(Z%62*8')!*+*01-'
(-2"&)"'&*#'3&6G"!#6(*("#'7"("!*6#'+!*#60"6!*#
&
e>%6$F,&Z$A,$(?&K$6#%&!$E%&.1)S'3&4(%5$67
ZR*$%&V($5;$:%&_6$#,$(%&.1be)/KQ3&4(%5$67
!=$J&V%,;%:?&K%66,5&.1)13&4(%5$67
/5;% & 9,5@=$5% & $:;,((?*% & ? & E?>? & F?E? & ?5 & 9(?H,55?(,5 & #$#,:F$%E & %5&
E=>%:B%5 & :? & 9(?F,55? & >, & ;(%A%6D? & >?F,:;, & :%5 & =:$#,(5$>%>,5 & H,>,(%$5&
A(%5$6,$(%5L & /55%5 & E=;%BC,5 & >,F?((,E & >% & F?E96,N$>%>, & >% & #$>%&
F?:;,E9?(]:,%3 & 9($:F$9%6E,:;, & :? & @=, & F?:F,(:, & ^ & ;(%:5E=;%BG? & >?&
;(%A%6D? & ,E &6%A?(3 & :?5 & ;,(E?5 & >, & 8(,:>;3 & @=, & $:F$>, & 5,:5$#,6E,:;, & :%&
@=%6$>%>, & >, & #$>% & >, & D?E,:5 & , & E=6D,(,5 & ,E & 5$;=%BG? & >, & ;(%A%6D? & :G?&
5?E,:;,&:%5&=:$#,(5$>%>,53&E%5&;%EARE&,E&?=;(?5&5,;?(,5&>%&5?F$,>%>,L&
S(%;%<5,&>,&=E%&$:#,5;$*%BG?&F,:;(%>%&:%&F?:5;$;=$BG?&>,&5$&>?&9(?H,55?(&
=:$#,(5$;W($?3 & @=, & 5, & %H$*=(% & :? &%:$E%6 & 6%A?(%:5 &%(,:>;$%:?3 & E,>$%:;, & %&
(,?(*%:$J%BG? & >? & ,:5$:? & 5=9,($?( & :? & 4(%5$63 & ,3 & F?:5,@=,:;,E,:;,3 & %&
(,F?:H$*=(%BG?&>?&;(%A%6D?&>?F,:;,3&?($,:;%>%&9,6%&(,*=6%BG?&`E=:>$%6a&>%&
,>=F%BG?&F6%(%E,:;,&,N9(,55%&:?&Q6%:?&>,&[,5,:#?6#$E,:;?&>%&/>=F%BG?&
.Q[/7L & 86*=:5 & %59,F;?5 & >,55%5 & E=>%:B%5 & $:>$F%E & =E% & 9(,F%($J%BG? & >%5&
F?:>$BC,5&>,&;(%A%6D?&,&#$>%&>,55,5&9(?H,55?(,53&:?&@=,&F?:F,(:,&%?&5,=&
A,E<,5;%(&:?&;(%A%6D?&,&H?(%&>,6,3&,3&F?E&%&%5F,:5G?&>%&E,($;?F(%F$%3&=E%&
F=6;=(%&>?&:%(F$5$5E?&,&>?&F?E9?(;%E,:;?&9(?>=;$#?3&F?E?&>,E?:5;(%E&?5&
,5;=>?5&>,&!%5FD3&[,X?=(53&&K,::,;3&KFD|%(;J3&VD%="&,&?=;(?5L&
.;<;=>;?@AB;=C8& =:$#,(5$>%>,3 & ;(%A%6D? & >?F,:;,3 & 95$F?9%;?6?*$%5 & >?&
;(%A%6D?L
$>%6$F,UY%D??LF?E
(F?6$(%UY%D??LF?ELA(
6F5%66,5U=H=LA(
-')!*+*01-'(-'(-2"&)"'(*'16#)F!6*'2-%'*'"(32*45-'("'
,-G"&#'"'*(30)-#V6(-#-#'f",*@'*-'%3#"3'("'*!)"#'"'-7O26-#@
%*-@8'.-)"&26*06(*("#'(*#'!"0*49"#'"&)!"'"&#6&-'("'
16#)F!6*'"'%"%F!6*K
\?G?&V%(6?5&Z$A,$(?&>,&8:>(%>,&.)8/01/'23&4(%5$67
+?=&89(,5,:;%(&:,5;,&%(;$*?&%&H=:>%E,:;%BG?&;,P($F%&>,&E$:D%&9,5@=$5%&>,&
E,5;(%>?&,E&%:>%E,:;?&:%&)8/01/'2L&ƒ&=E&,5;=>?&>,&F%5?&F=X?&?AX,;?&>,&
%:W6$5,&R&?&,:5$:?&>,&D$5;P($%&,&E,EP($%L&_&?AX,;$#?&R&%:%6$5%(&%&9%(;$(&>%&
H$6E%*,E&,&?=;(?5&(,*$5;(?5&9(?>=J$>?5&9,6?&;(%A%6D?&>?&>?F,:;,&>,&D$5;P($%&
F?E & % & /\8 & %5 & 9?;,:F$%$5 & (,6%BC,5 & ,:;(, & ,:5$:? & >, & D$5;P($% & , & E,EP($%&
F?:5;(=">%5 & >=(%:;, & ?5 & 9(?F,55?5 & >, & #$5$;% & %? & '8_L & _ & (,H,(,:F$%6 & ;,P($F?&
9%(% & %:W6$5, & >?5 & ;(%A%6D?5 & >? & >?F,:;, & :,55, & E?#$E,:;? & 5,(W & V,(;,%=&
.ijjo7L
.;<;=>;?'AB;=Cc&S(%A%6D?&>?F,:;,</:5$:?&>,&I$5;P($%&,&E,EP($%<&&/\8
%:>(%>,mtkvU*E%$6LF?E
.-!'L3"'-'23!!O230-'_'2-&#6("!*(-'3%':!*&("'("#*76-'.*!*'
-#'.!-7"##-!"#Q
Q%?6%&V($5;$:,&'%(FD$?(?&I%::%&.Q1VQZ3&4(%5$67
/5;, & %(;$*? & ;,E & F?E? & ;,E% & >, & $:#,5;$*%BG? & ? & F=(("F=6?3 & >%:>? & O:H%5, & ^&
9%(;$F$9%BG? & >?5 &>?F,:;,5 &:% & F?:5;(=BG? & >? &F=(("F=6? & , &>% &$>,:;$>%>, & >%&
,5F?6%3 & >,5;%F%:>? & F?E? & 9(?A6,EW;$F% & % & (%JG?3 & 9,6% & @=%63 & ? & F=(("F=6? & R&
F?:5$>,(%>?&=E&*(%:>,&>,5%H$?&9%(%&?5&9(?H,55?(,5L&/5;,&%(;$*?&(,%6$J%&=E%&
>$5F=55G? & %F,(F% & >? & 9(?X,;? & 9?6";$F? & 9,>%*P*$F?3 & ;%EARE & >,H$:$>? & F?E?&
9(?X,;? & F=(($F=6%(3 & 5?A(, & % & %;=%BG? & >?5 & 9(?H,55?(,5 & , & 5?A(, & %6*=E%5&
F?:5$>,(%BC,5 & >? & 9?(@=, & ? & F=(("F=6? & R & F?:5$>,(%>? & =E & >,5%H$? & %?5&
>?F,:;,5L&_&9(,5,:;,&,5;=>?&;?E%&F?E?&A%5,&=E%&9,5@=$5%&>,&%A?(>%*,E&
@=%6$;%;$#%3 & (,%6$J%>% & F?E & @=%(,:;% & , & @=%;(? & 9(?H,55?(,5 & >, & =E% & ,5F?6%&
,5;%>=%63&?5&@=%$5&%9?:;%(%E3&,E&,:;(,#$5;%&,5;(=;=(%>%3&5=%&9%(;$F$9%BG?&
H(,:;, & ^ & F?:5;(=BG? & >? & 9(?X,;? & 9?6";$F? & 9,>%*P*$F? & , & 5, & ? & =;$6$J%E & :%&
,6%A?(%BG? & >, & 5=%5 & %;$#$>%>,5 & >?F,:;,5L & 8 & (%JG? & 9%(% & ,5;% & 9,5@=$5% & R & %&
>$#,(*O:F$% & @=, & ,E & E=$;%5 & ,5F?6%5 & ?F?((, & ,:;(, & ? & @=, & ,5;W & ,5F($;? & :?5&
>?F=E,:;?5&,&?&@=,&?5&9(?H,55?(,5&(,%6$J%E&,E&5=%5&9(W;$F%5&9,>%*P*$F%5L&
.;<;=>;?@AB;=C8 'Q(?X,;?&F=(($F=6%(L&8;=%BG? &>?5&9(?H,55?(,5L&[,5%H$?&%?5&
9(?H,55?(,5L&
9FELE%(F{U$*LF?ELA(
.!-76##5-'*2*(Z%62*'"'#21-0*!#16.'(*'(-2Z&26*'
3&6G"!#6)I!6*8'-#'%$0)6.0-#'.*._6#'(-'.!-7"#-!'
3&6G"!#6)I!6-
\?5R&V%E$6?&>?5&K%:;?5&)$6D?&.1beV8'Q&,&1b_/KS/3&4(%5$67
_ & (,F?:D,F$E,:;? & >% & @=%6$>%>, & >? & ;(%A%6D? & >?F,:;, & ,E & %;$#$>%>,5 & :G?&
>$(,;%E,:;,&(,6%F$?:%>%5&^&9,5@=$5%&,&%&F(,5F,:;,&,N$*O:F$%&>%&5?F$,>%>,&
9?( & =E% & F?:;($A=$BG? & E%$5 & (,6,#%:;, & >% & =:$#,(5$>%>, & 9%(% & % & 5?6=BG? & >,&
5,=5 & 9(?A6,E%5 & 9(,E,:;,5 & 6,#%(%E & ^ & A=5F% & >, & 5=9,(%BG? & >% & #$5G?&
;(%>$F$?:%6 & >, & 5FD?6%(5D$9L & b,5;, & ;(%A%6D?3 & %9(,5,:;%E?5 & 9($E,$(? & ?&
,:;,:>$E,:;?&F6W55$F?&>,&5FD?6%(5D$9&,&%5&9(?9?5;%5&>,&,N9%:5G?&>,&5,=&
F?:F,$;? & %9(,5,:;%>%5 & 9?( & %6*=:5 & ;,P($F?5L & /E & 5,*=$>%3 & ,N96$F$;%E?5 & ?&
F?:F,$;? & >, & 5FD?6%(5D$9 & >% & >?FO:F$% & , & 5,=5 & F?E9?:,:;,5 & AW5$F?5L & Q?(&
M6;$E?3 & H?F%6$J%E?5 & %6*=E%5 & 9(?9?5;%5 & , & $:$F$%;$#%5 & $:;(?>=J$>%5 & 9?(&
=:$#,(5$>%>,5&9%(%&F?:5?6$>%(&%&5FD?6%(5D$9&>%&>?FO:F$%L
.;<;=>;?@AB;=C8&KFD?6%(5D$93&Q(?H,55?(&1:$#,(5$;W($?3&;(%A%6D?&[?F,:;,
XF%E$6?5%:;?5UY%D??LF?ELA(
L3"#)9"#')"F!62*#'"'%")-(-0F:62*#'(*'*30*'&-'2-&)"H)-'
*)3*08'"&7!"&)*%"&)-#'(*'.!IH6#'"(32*)6G*
'%($%&/6$J%&4(,H,(,&8(:?:$&.1b/KQ3&4(%5$67
b,5;, & %(;$*? & >$5F=;,<5, & % & F?:;(%>$BG? & @=, & 5, & ,N96$F$;% & ,:;(, & F%9$;%6 & ˆ&
,>=F%BG? & ,5F?6%( & :? & 9(?F,55? & >, & *6?A%6$J%BG?3 & F?:;%;%:>? & @=, & ? & 9(P9($?&
F?:;,N;?&$:H?(E%3&9?(&=E&6%>?3&@=,&?&F%9$;%6&F?:5;$;=$&?&9P6?&9(,>&?E$:%:;,&
>,5;% & (,6%BG? & >$%6R;$F% & ,3 & 9?( & ?=;(? & 6%>?3 & @=, & %5 & %BC,5 & >?5 & P(*G?5&
E=6;$6%;,(%$53 & 5?A & ? & F?E%:>? & >? & F%9$;%63 & F?:5$>,(%E & % & 9%(;$F$9%BG? & >%&
,>=F%BG?&,5F?6%(3&>,&H=:>%E,:;%6&$E9?(;]:F$%&9%(%&%&5=9,(%BG?&>%&F($5,&>?&
9(P9($? & F%9$;%6L & b% & H?(E%BG? & >? & 5=X,$;?3 & F?E? & F$>%>G?3 & % & 6=;% & 9?( & =E%&
5?F$,>%>, & X=5;% & 9,6% & ,E%:F$9%BG? & 9?6";$F%3 & 9(?F6%E%>% & 9,6? & 5$5;,E%&
F%9$;%6$5;%3 & ?F=6;% & , & E%5F%(% & % & 6=;% & 9,6% & ,E%:F$9%BG? & D=E%:%3 & F%=5%&
9($E,$(%&>%&H?(E%BG?&$:;,*(%6&>?&D?E,E3&9?$53&%&5?F$%A$6$>%>,&(,*$>%&9,6?&
F%9$;%6&9,(E$;,&@=,&?&$:>$#">=?&5,X%&F$>%>G?&5,E&>,$N%(&>,&5,(&,N96?(%>?L&
V?:5$>,(%:>?&?&,N9?5;?3&R&%9(,5,:;%>%&%&9(?9?5$BG?&;,P($F?<E,;?>?6P*$F%&
@=, & F?E9(,,:>, & % & %=6%3 & F?E? & 9(WN$5 & ,>=F%;$#%3 & F,:;(%>% & :% & E,>$%BG?&
>$%6R;$F% & , & 9,>%*P*$F%3 & 5,*=:>? & % & _:;?6?*$% & >? & 5,( & 5?F$%63 & ?= & 5,X%3 & :%&
(,6%BG? & ,:;(, & ? & 9(?H,55?( & , & %6=:?3 & F?E? & E,$? & >, & 5, & ,5;%A,6,F,( & %&
F?:;(%>$BG?&,:;(,&?5&9(?F,55?5&>,&,:5$:?&,&>,&%9(,:>$J%*,EL&Q%(%&$55?3&R&
>$5F=;$>? & , & ,N96$F$;%>? & ? & 96%:,X%E,:;? & 9(?F,55=%6 & , & % & ',;?>?6?*$% & >%&
',>$%BG? & [$%6R;$F%3 & @=, & ,N9(,55%E & % & 5=9,(%BG? & >%5 & %A?(>%*,:5&
9,>%*P*$F%5&#$*,:;,53&9,6%&9(WN$5&,>=F%;$#%&:%&9,(59,F;$#%&>%&,E%:F$9%BG?&
D=E%:%L
.;<;=>;?@AB;=C8'_:;?6?*$%&>?&5,(&5?F$%63&Q(WN$5&,>=F%;$#%3&',;?>?6?*$%&>%&
',>$%BG?&[$%6R;$F%L
E,6$J%U$A$6F,L=:,59LA(
!".!"#"&)*49"#'#-26*6#'("'*)6G6(*("'(-2"&)"8'-#'#*+"!"#'"'
7*E"!"#'&*'.!I)62*'(-'.!-7"##-!
/>$;D&'%($%&'%(@=,5&'%*%6DG,5&.1b/K83&4(%5$67
I,6,:$F,&'%$%&.1b/K83&4(%5$67
_&9(,5,:;,&,5;=>?&;,#,&F?E?&?AX,;$#?&A=5F%(&%&*O:,5,&>%5&(,9(,5,:;%BC,5&
5?F$%$5 & >, & %;$#$>%>, & >?F,:;, & X=:;? & %?5 & %6=:?5 & F?:F6=$:;,5 & >, & V=(5? & >,&
Q,>%*?*$% & ?H,(,F$>? & ,E & =:$#,(5$>%>, & 6?F%6$J%>% & :? & Z$? & >, & \%:,$(?L & Q%(%&
;%:;?&H?(%E&(,%6$J%>%5&ij&,:;(,#$5;%5&$:>$#$>=%$5&,&>=%5&5,BC,5&>,&*(=9?&
H?F%6 & F?E & ?=;(?5 & ij & %6=:?5L & 8 & %:W6$5, & >, & F?:;,M>? & >? & E%;,($%6 & F?6,;%>?&
9,(E$;$= & F?E9(,,:>,( & @=, & 9%(% & ,55,5 & 5=X,$;?53 & % & %;$#$>%>, & >?F,:;, & ,5;W&
%:F?(%>%&:?5&5%A,(,5&,&H%J,(,5&>?F,:;,5L&V?E&(,6%BG?&%?5&5%A,(,53&,55,5&
5,&(,H,(,E&%?&>?E":$?&>?&F?:;,M>?&%&5,(&,:5$:%>?3&^&5,*=(%:B%&:,F,55W($%&
9%(%&,:5$:%(3&^&%H,;$#$>%>,&@=,&>,#,&9,(E,%(&%&(,6%BG?&9(?H,55?(<%6=:?&,&%?&
F?:D,F$E,:;? & >% & (,%6$>%>, & >? & %6=:?L & w=%:;? & %?5 & H%J,(,53 & ,5;G?&
(,6%F$?:%>?5 & % & ,5;=>?53 & 9,5@=$5%53 & %;=%6$J%BG? & , & ^ & A=5F% & F?:5;%:;, & >,&
F?:D,F$E,:;? & 9%(% & ? & >,5,:#?6#$E,:;? & 9(?H$55$?:%6L & b? & @=, & 5, & (,H,(, & ^&
?AX,;$#%BG?3 &;?>?&;$9?&>,&F%(O:F$%&>?5&%6=:?5&9%(%&@=,E&$(G?&6,F$?:%(&H?$&
(,H?(B%>%3 & ? & @=, & H%J & %5 & (,6%BC,5 & $:;,(9,55?%$5 & 5,(,E & 5=% & E%$?(&
9(,?F=9%BG?L &_&F=(5?&>,&Q,>%*?*$%&R&F?:5$>,(%>?&A?E3&%5&>$5F$96$:%5&5G?&
;?>%5&$E9?(;%:;,53&9?(RE&%&H?(E%BG?&:G?&F?:;($A=$&5$*:$H$F%;$#%E,:;,&9%(%&
>%(&%=6%L&Q?(&,55%&(%JG?&?5&%6=:?5&5,&5,:;,E&>,59(,9%(%>?5&9%(%&,:5$:%(3&
%H$(E%E&@=,&`F%"(%E&>,&9%(%@=,>%5a&:%&Q,>%*?*$%&,&@=,&:G?&9(,;,:>,E&
5,(&9(?H,55?(,5L
.;<;=>;?'AB;=Cc&Z,9(,5,:;%BC,5&5?F$%$53&8;$#$>%>,5&[?F,:;,53&K%A,(,5&,&
)%J,(,5&>?F,:;,L
,>$;DE%*%6D%,5UD?;E%$6LF?E
D,6,E%$%U=?6LF?ELA(
)!*+*01-'(-2"&)"8'+*0*&4-'2!O)62-'("'."#L36#*#'"%')"#"#'"'
(6##"!)*49"#'&-'+!*#60'[]aag'@]aac\
e($%&4(J,J$:5{$&.Q1V&2_eyK3&4(%5$67
S(%A%6D? & [?F,:;, & R & F%;,*?($% & H?F? & :,5;, & ,5;=>?L & _5 & (,5=6;%>?5&
F?((,59?:>,E&%&=E%&>%5&,;%9%5&>%&9,5@=$5%<E%;($J&>,5,:#?6#$>%&9?(&E,$?&
>?&/5;%>?&>?&V?:D,F$E,:;?&5?A(,&)?(E&%BG?&>,&Q(?H$55$?:%$5&>%&/>=F%BG?L&
b% & ,;%9% & %;=%6 & (,%6$J%<5, & =E & A%6%:B? & F(";$F? & >%5 & >$55,(;%BC,5 & , & ;,5,5&
>,H,:>$>%5 & >, & ijjh & % & ijjk3 & ,E & ms & Q(?*(%E%5 & >, & QP5<2(%>=%BG?L & ’&
9,5@=$5%&;,P($F?<A$A6$?*(WH$F%3&F?E&%:W6$5,&>,&F?:;,M>?&>,&hvs&9(?>=BC,5&,&
mms&;OE&9?(&?AX,;?&S(%A%6D?&[?F,:;,3&5,:>?&ts&>$55,(;%BC,5 &,&ij&;,5,5L&
S(O5 & (%JC,5 & (,59%6>%E & % & ,5F?6D% & >,55% & F%;,*?($% & ,:;(, & %5 & 5,;, & @=,&
,E,(*$(%E & :% & 9,5@=$5%<E%;($Jc & %7 & F%;,*?($% & >, & %:W6$5, & @=, & ,:*6?A% & %&
E%$?($%&>%5&>$55,(;%BC,5&,&;,5,5&.hj†7T&A7&%5&$:#,5;$*%BC,5&5?A(,&;(%A%6D?&
>?F,:;, & ;(%:5H?(E%(%E<5, & ,E & =E & E?#$E,:;? & #$*?(?5? & F?E & 9(?>=BG?&
5=H$F$,:;, & 9%(% & H?(E%( & =E & F?:X=:;? & >, & F?:D,F$E,:;?5 & 5?A(, & 9(W;$F%5&
9,>%*P*$F%5 & , & ,:5$:%*,ET & F7 & ?5 & ,5;=>?5 & >,5#,:>%E & % & (,6,#]:F$% & >%&
9,5@=$5% & %F,(F% & >? & ;(%A%6D? & >?F,:;, & 9%(% & % & H?(E%BG? & >? & 9(?H,55?(3 & 5,=&
>,5,:#?6#$E,:;? & 9(?H$55$?:%63 & 9%(% & % & E=>%:B% & >% & F=6;=(% & ,5F?6%( & , & >?&
F%E9? & >% & %9(,:>$J%*,EL & Z,5=6;%>?5 & >? & A%6%:B? & F(";$F? & (,#,6%E & F$:F?&
>,5F($;?(,5 & $:;,*(%:;,5 & >% & F%;,*?($%c & ,5;=>?5 & >, & 9(W;$F%5 & ,5F?6%(,5c&
(,9(,5,:;%BC,5 & , & F=6;=(% & ,5F?6%(T & 9(W;$F%5 & >?F,:;,5T & F=(("F=6? & ,E&
E?#$E,:;?T&(,6%;?5&>,&,N9,($O:F$%5&,E&>$5F$96$:%5&:%&5%6%&>,&%=6%T&$E9%F;?&
>%5&(,H?(E%5&:%5&9(W;$F%5&>?F,:;,5&,&:%&F=6;=(%&,5F?6%(L&
.;<;=>;?@AB;=C8&S(%A%6D?&[?F,:;,T&4%6%:B?&V(";$F?T&S,5,5&,&[$55,(;%BC,5L
&$($%U9=F*?$%5L,>=LA(
)!*+*01-'(-2"&)"'"'*#'.!I)62*#''*G*06*)6G*#'("'
.!-7"##-!*#'.!6%I!6*#
K=5%:%&K?%(,5&S?J,;;?&.1/Q20Q(&-&2/S/)_Q3&4(%5$67
SD%"5&>,&KW&2?E,5&.1beV/bSZ_0Q(&-&2/S/)_Q3&4(%5$67
_&F%E9?&>,&,5;=>?&,:#?6#,=&%&;(%X,;P($%&>,&=E&*(=9?&>,&%6=:%5&>?&;,(F,$(?&
%:?&>?&F=(5?&@=,3&%?&#$#,:F$%(&:%&>$5F$96$:%&>,&,5;W*$?&5=9,(#$5$?:%>?&:%5&
5R($,5&$:$F$%$5&>?&,:5$:?&H=:>%E,:;%63&=E&F?:H(?:;?&;,P($F?09(W;$F?&>%&%BG?&
9,>%*P*$F% & :? & ,59%B? & >, & 5%6% & >, & %=6%L & _ & %(;$*? & %9(,5,:;% & %6*=E%5&
F?:5$>,(%BC,5 & 5?A(, & % & 9(W;$F% & 9,>%*P*$F% & >, & 9(?H,55?(%5 & 9($EW($%53 & F?E&
H?F? & :% & %#%6$%BG?3 & 5?A & % & P;$F% & >?5 & (,6%;?5 & >%5 & %;$#$>%>,5 & >, & ,5;W*$?&
(,%6$J%>%5&9,6%5&%F%>OE$F%5&>?&F=(5?&>,&Q,>%*?*$%&>%&1beV/bSZ_0&Q%(%:WL&
8F(,>$;%<5,&@=,&?&,:H(,:;%E,:;?&:%&H?(E%BG?&$:$F$%6&5?A(,&%&%;=%BG?&>%5&
9(?H,55?(%5 &9($EW($%53&9?55$A$6$;%&^5&%F%>OE$F%5 &=E&$E9?(;%:;, &,6,E,:;?&
>,5,:F%>,%>?( & >, & %;$;=>,5 & (,H6,N$#%53 & $:#,5;$*%;$#%5 & , & 9(?F,55=%$5 & :%&
*(%>=%BG?&,E&@=,5;G?L&_&E%;,($%6&%:%6$5%>?&H?$&?5&(,6%;P($?5&>,&,5;W*$?&>,&
F$:F?&>=96%53&9,(H%J,:>?&=E&;?;%6&>,&>,J&%F%>OE$F%5L&Q?(&E,$?&>%&%:W6$5,&
>?5&>?F=E,:;?53&H?$&9?55"#,6&>$5F=;$(&%6*=:5&9?:;?5&>%&9(W;$F%&9,>%*P*$F%&
>, & 9(?H,55?(%5 & @=, & %;=%E & :%5 & 5R($,5 & $:$F$%$5 & >? & ,:5$:? & H=:>%E,:;%6L & _&
>,5#,6%E,:;? & >% & %BG? & >%5 & 9(?H,55?(%5 & 9($EW($%53 & %;(%#R5 & >?5 & (,6%;?5 & >,&
,5;W*$? & >%5 & %F%>OE$F%5 & >? & F=(5? & >, & Q,>%*?*$% & (,*$5;(% & E%(F%5 & >, & =E%&
9(W;$F% & F?:5,(#%>?(% & ,E & (,6%BG? & ^ & %#%6$%BG? & >? & 9(?F,55? & >, & ,:5$:?<
%9(,:>$J%*,E3 & , & (,5@="F$?5 & >? & 9?>,( & @=, & % & %#%6$%BG? & %$:>% & ,N,(F, & :%&
,5F?6%3&E,5E?&,:;(,&?5&%6=:?5&9,@=,:?5L&
.;<;=>;?@2B;=C8& Q(W;$F% & Q,>%*P*$F% & 8#%6$%;$#%3 & S,?($%<9(W;$F%3 & /5;W*$?&
5=9,(#$5$?:%>?L
5=5;?JUA(;=(A?LF?ELA(
;D%$5>,5%UA5iLF?ELA(
)!*+*01-'(-2"&)"'"'(6G"!#6(*("'230)3!*0'&*'!"("'
"#)!*(-'("']aap
Q%?6%&V($5;$:,&'%(FD$?(?&I%::%&.Q1VQZ3&4(%5$67
/5;,&%(;$*?&;,E&F?E?&;,E%&>,&$:#,5;$*%BG?&?5&;(%A%6D?5&%9(?#%>?5&:?&+ee&
K,E$:W($?&>%&Z,>,&!%;$:?%E,($F%:%&>,&/5;=>?5&5?A(,&S(%A%6D?&[?F,:;,&-&
Z,>,&/KSZ8[_&-&,E&ijjv3&F=X?&;,E%&H?$&b?#%5&(,*(%5&:%&8ER($F%&!%;$:%3&
>%:>?&O:H%5,&%?5&%(;$*?5&@=,&>$5F=;,E&?&;(%A%6D?&>?F,:;,&,&%&>$#,(5$>%>,&
F=6;=(%6L & _ & ,5;=>? & %:%6$5% & ?5 & ;(%A%6D?5 & >?5 & ,$N?5 & i & `)?(E%BG? & >?F,:;,c&
9?6";$F%53 & 9(?F,55?5 & , & >,A%;,5a & , & o & `Q?6";$F%5 & />=F%F$P:%$5 & , & ;(%A%6D?&
>?F,:;,aL & 8 & 9(?A6,EW;$F% & >,5;, & ,5;=>? & R & 5%A,( & F?E? & ,5;G? & 5,:>?&
%A?(>%>%5&%5&>$5F=55C,5&5?A(,&;(%A%6D?&>?F,:;,&,&>$#,(5$>%>,&F=6;=(%63&F=X?&
?AX,;$#?&R&%9(,5,:;%(&%5&$>R$%5&F,:;(%$5&>?5&%(;$*?5&%9(?#%>?5L&Q%(%&;%:;?3&
5,(W&(,%6$J%>?&=E&,5;=>?&>?&;$9?&/5;%>?&>%&8(;,3&>,5,:#?6#$>?&9?(&%6=:?5&>?&
E,5;(%>?&,&>?=;?(%>?3&,E&=E%&>$5F$96$:%&$:;$;=6%>%&Q?6";$F%5&>,&)?(E%BG?&
>, & Q(?H,55?(,5 & , & S(%A%6D? & [?F,:;,3 & ?H,(,F$>% & :=E & 9(?*(%E% & >, & 9P5<
*(%>=%BG? &K;($F;?&K,:5= &>,&=E%&=:$#,(5$>%>,&>,&*(%:>,&9?(;,L& &_&,5;=>?&
A%5,$%<5, & :%5 & (,H6,NC,5 & >, & !?9,5 & .ijjh73 & ',Y,( & .mttv73 & )?(@=$: & .mtth73&
)(,$(,&.mttk73&Z?E%:?|5{$&,&/:5&.ijjk7&,&/:5&,&4?;D&.ijjt7&,&%9(,5,:;%&
F?E?&(,5=6;%>?&>%&9,5@=$5%&g&%(;$*?5&@=,&>$5F=;,E&?&;(%A%6D?&>?F,:;,&,&%&
>$#,(5$>%>,&F=6;=(%6L
.;<;=>;?@AB;=C8'S(%A%6D?&>?F,:;,L&[$#,(5$>%>,&F=6;=(%6L&Z,>,&/KSZ8[_L
9FELE%(F{U$*LF?ELA(
)!*+*01-'(-2"&)"'"&)!"'(-6#'(6#23!#-#8'-'(*'
("#G*0-!6E*45-'"'-'(*'("#*3)-!6E*45[%(F$&89%(,F$>%&[$%5&'?;;%&.1/'23&4(%5$67
8:>(R&'%(F$?&Q$F%:B?&)%#%FD?&.1/'23&4(%5$67
S(%;%<5, & >, & =E% & 9,5@=$5% & (,%6$J%>% & X=:;? & %? & b)S[ & .bMF6,? & >, & /5;=>?5 & ,&
Q,5@=$5%5 & 5?A(, & )?(E%BG? & >, & Q(?H,55?(,53 & S(%A%6D? & [?F,:;, & , & [$5F=(5?&
Q,>%*P*$F?73 & >% & 1:$#,(5$>%>, & >? & /5;%>? & >, & '$:%5 & 2,(%$53 & @=, & ?AX,;$#%#%&
,:;,:>,( & % & H?(E%BG? & >, & >?$5 & >$5F=(5?5 & (,F?((,:;,5 & :?5 & ,5;=>?5 & 5?A(, & ?&
;(%A%6D?&>?&9(?H,55?(&:?&4(%5$6c&?&>$5F=(5?&>%&>,5#%6?($J%BG?&>?&9(?H,55?(&,&
? & >$5F=(5? & >% & >,5%=;?($J%BG? & >?F,:;,L & w=,("%E?5 & 5%A,(3 & >, & H?(E% & E%$5&
9(,F$5%3&@=%$5&H?(%E&%5&F?:>$BC,5&>,&9?55$A$6$>%>,&@=,&9,(E$;$(%E&@=,&F%>%&
>$5F=(5?&,E,(*$55,&,E&5=%&,59,F$H$F$>%>,L&Q(?F=(%E?5&%:%6$5%(&%&9(?>=BG?&
A$A6$?*(WH$F%&5?A(,&F%>%&>$5F=(5?&,3&%6RE&>$55?3&(,%6$J%E?5&,:;(,#$5;%5&F?E&
#W($?50%5&9(?H,55?(,50%5&%&H$E&>,&F?6,;%(&E%$5&>%>?5&5?A(,&?&%55=:;?L&89P5&
% & F?6,;% & >?5 & >%>?5 & ;,P($F?5 & , & ,E9"($F?53 & 9(?F,>,E?5 & % & =E% & %:W6$5, & >?&
>$5F=(5? & >? & ;$9? & H?=F%=6;$%:%3 & ? & @=, & :?5 & 9,(E$;$= & FD,*%( & % & %6*=E%5&
F?:F6=5C,5L&/:;(,&,6%53&,5;W&%&>,&@=,&,55,5&>$5F=(5?5&>$59=;%E&=E&5%A,(&
5?A(,&?&;(%A%6D?&>?&9(?H,55?(&,&5,&%9P$%E&,E&F%E9?5&F$,:;"H$F?5&>$5;$:;?53&
,EA?(%3 & %;=%6E,:;,3 & A=5F%E & %6*=E & ,:;,:>$E,:;? & EM;=?L & b?55% & 9?5$BG?&
:G? & H?$ & % & >, & F?6?F%( & ,55,5 & >$5F=(5?5 & ,E & ?9?5$BG?3 & E%5 & >$J,( & @=, & ,6,5&
F?E9C,E & ? & E?5%$F? & 5,*=:>? & ? & @=%6 & ?50%5 & 9(?H,55?(,50%5 & 9?>,E & %X=5;%(&
E,6D?(&?5&H?F?5&>,&5=%5&(,$#$:>$F%BC,5L
.;<;=>;?@2B;=Cc&[$5F=(5?3&[,5#%6?($J%BG?3&[,5%=;?($J%BG?
>%F$E?;;%UD?;E%$6LF?E
%H%#%FD?U=?6LF?ELA(
)!*+*01-'(-2"&)"8'&-G-#'2*%6&1-#'.*!*'&-G*#'("%*&(*#'
&*'062"&26*)3!*
!,%:>(?&\?(*,&[=F6?5&>%&V?5;%&.1)ZZ\3&4(%5$67&
/>$;D&'%($%&'%(@=,5&'%*%6DG,5&.1be23&4(%5$67
86*=E%5&@=,5;C,5&:?(;,%(%E&:?55?&E,(*=6D?&5?A(,&;(%A%6D?&>?F,:;,&?AX,;?&
>?&9(,5,:;,&,5;=>?c&H%;?(&F?E=E&>%5&;%(,H%5&>?5&9(?H,55?(,5&,&%&(,6%BG?&
F?E & ?5 & %6=:?5L & 8 & 9%(;$( & >,55%5 & $:>%*%BC,53 & 6,#%:;%E?5 & ?=;(% & @=,5;G?3&
$:;$E%E,:;, & 6$*%>% & %? & ?AX,;?3 & ? & @=, & R & :,F,55W($? & 5%A,( & 9%(% & `,:5$:%(aL&
/:;G?&5,6,F$?:%E?5&F=(5?5&>,&6$F,:F$%;=(%&>,&=E%&1:$#,(5$>%>,3&:?&Z$?&>,&
\%:,$(?&,&%96$F%E?5&=E&@=,5;$?:W($?&%&io&%6=:?5L&[%&%:W6$5,&>?5&F?:;,M>?5&
,E9(,,:>$>%&#,($H$F?=<5,&@=,&?5&H=;=(?5&9(?H,55?(,5&F?:5$>,(%E&9%(%&5%A,(&
,:5$:%(&R&9(,F$5?&;,(&>?E":$?&>?&F?:;,M>?3&%9?:;%E&?&%6=:?&F?E?&F,:;(?&>?&
9(?F,55?&,&?&,:5$:?&>,#,&5,(&(,:?#%>?&F?:H?(E,&%&:,F,55$>%>,&>?&%6=:?&
#$5%:>? & =E% & $:;,(%BG? & ,:;(, & ?5 & 9%(,5L & V?E? & ? & (,5=6;%>?& ,:F?:;(%>?&
F?:5$>,(%>? & %E96? & >$%:;, & %6*=:5 & ,5;=>?5 & 9=A6$F%>?53 & ,#$>,:F$?= & %&
:,F,55$>%>,&>,&>%(&F?:;$:=$>%>,&:%&$:#,5;$*%BG?L&Q%(%&;%:;?3&H?$&%96$F%>?&
?=;(?&@=,5;$?:W($?&,:H?F%:>?&5%A,(,5&:,F,55W($?5&9%(%&@=,&?5&9(?H,55?(,5&
F?:5;(=%E&:?#%5&9(W;$F%5&%#%6$%;$#%53&F%(*%&>,&;(%A%6D?&,&%;$#$>%>,5L&Q%(%&
%EA?5 & ?5 & F=(5?5 & %5 & ;%(,H%5 & EM6;$96%5 & , & $:;,(6$*%>%5 & 9,(E$;,E & $>,:;$H$F%(&
%#%:B?53 & >$H$F=6>%>,5 & , & 9?55$A$6$>%>,5 & 9%(% & (,F?:5;(=BG? & >%5&
%9(,:>$J%*,:53 & F?:5$>,(%E & E%$5 & >$H"F$6 & H%;?(,5 & 6$*%>?5 & %? & `?AX,;? & >,&
;(%A%6D?a&,&%5&%;$#$>%>,5&9%(%&?5&%6=:?53&E%5&9%(%&?5&%6=:?5&>,&'%;,EW;$F%&
%$:>% & 5%6$,:;%E & %5 & >$E,:5C,5 & $:;,(%;$#%5 & , & % & :,F,55$>%>, & >, & %9(,:>,(&
?=;(%5&;%(,H%53&%6RE&>%&>?FO:F$%L&
.;<;=>;?<AB;=Cc&V=(5?&>,&!$F,:F$%;=(%&-&/:5$:%(&-&S(%A%6D?&[?F,:;,
6,%:>(?>=F6?5UD?;E%$6LF?E
,>$;DE%*%6D%,5UD?;E%$6LF?E
3%'%-%"&)-'2-%':!*%#26'&*'*&I06#"'(-')!*+*01-'(-2"&)"
V%(6%&eE,:,5&.1/Q23&4(%5$67
/66,:&'?=(%&.1/Z\3&4(%5$67
/5;, & %(;$*? & 9(?9C,<5, & % & %9(,5,:;%( & %6*=E%5 & F?:;($A=$BC,5 & >% & ;,?($% & >,&
2(%E5F$ & 9%(% & 9,:5%( & % & ,>=F%BG?3 & 9($:F$9%6E,:;, & :? & @=, & ;%:*, & %&
9?55$A$6$>%>,&>,&@=,&,55%&5,X%&=E&F%E$:D?&(,%6&>,&;(%:5H?(E%BG?&5?F$%6L&
2(%E5F$ & H?$ & =E & %=;?( & >, & $E,:5% & $E9?(;]:F$% & :? & F,:W($? & E=:>$%63 & 5G?&
$:ME,(%5&%5&F?:;($A=$BC,5&@=,&9(?>=J$=&5?A(,&>$H,(,:;,5&%59,F;?5&>%&6=;%&
>, & F6%55,5L & b,5;, & ;(%A%6D?3 & >,5;%F%E?5 & 9%(;, & >, & 5=% & %:W6$5, & 5?A(,&
,>=F%BG? & , & % & $E9?(;]:F$% & @=, & $>,:;$H$F?= & :,55%3 & ;%:;? & :? & 5,:;$>? & >,&
>?E,5;$F%BG? &,&F?:5;(=BG? &>?&`F?:5,:5?a &9,6%&F6%55, &>?E$:%:;,3&@=%:;?&
>, &9?55$A$6$>%>, &>,&(?E9$E,:;?05=9,(%BG? &>%&?9(,55G? &,&>, &F?:5;$;=$(<5,&
F?E?&9$6%(&>?&E?#$E,:;?&>,&,E%:F$9%BG?&>%&F6%55,&>?E$:%>%L
b?&;,N;?&5G?&(,55%6;%>?5&?5&5,*=$:;,5&F?:F,$;?5c&H$6?5?H$%&>%&9(WN$53&,5F?6%&
=:$;W($%3 & %=;?:?E$% & , & $:;,6,F;=%6 & ?(*]:$F?T & ;%$5 & F%;,*?($%5 & 5G? & >$5F=;$>%5&
>,:;(?&>%5&6$E$;%BC,5&>,&,59%B?<;,E9?&%@=$&9,(;$:,:;,53&E%5&>,&H?(E%&%&
,5;%A,6,F,(&M;$6&,&9(?>=F,:;,&%(;$F=6%BG?&F?E&?&;(%A%6D?&>?F,:;,L
_ & %(;$*? & F?:F,:;(%<5, & :% & (,H6,NG? & 5?A(, & %5 & $E96$F%BC,5 & 9%(% & ? & F?:;,N;?&
%;=%6 & >% & 9,(F,9BG? & , & %BG? & >? & 9(?H,55?( & , & >? & %6=:? & F?E? & H$6P5?H?53 & A,E&
F?E?3&:%&:,F,55$>%>,&>,&=E%&,5F?6%&=:$;W($%&,&>,&H?(E%BG?&>,&$:;,6,F;=%$5&
?(*]:$F?53&H%J,:>?&$55?3&9?(&E,$?&>%&9(?A6,E%;$J%BG?&>%&9(W;$F%&>?F,:;,&:%&
5?F$,>%>,&F%9$;%6$5;%&E%(F%>%&9,6%&9(,F%($J%BG?3&>,5#%6?($J%BG?&,&H%6;%&>,&
%=;?:?E$%&>%5&F6%55,5&@=,&#$#,E&>?&;(%A%6D?L
.;<;=>;?@AB;=C?c & H$6?5?H$% & >% & 9(WN$53 & $:;,6,F;=%6 & ?(*]:$F? & , & ;(%A%6D%>?&
>?F,:;,L
F%(6%$E,:,5UY%D??LF?ELA(
,66,:EAUA?6LF?ELA(
G6&)"'*&-#'("'"#)3(-#'#-+!"'-')!*+*01-'(-2"&)"'&*'
"(32*45-'+I#62*'&-'+!*#608'/`pq@]aaq
8>($%:%&[=%(;,&.1)'23&4(%5$67&
/5;, & %(;$*? & %9(,5,:;% & ,5;=>? & @=%:;$;%;$#? & F?:F,(:,:;, & ^5 & 9(?>=BC,5&
%F%>OE$F%5 &.>$55,(;%BC,5 &,&;,5,57 &5?A(, &?&;(%A%6D? &>?F,:;,&:%&,>=F%BG?&
AW5$F% & :? & 9,("?>? & >, & mtvo & % & ijjoL & 8 & H?:;, & AW5$F% & =;$6$J%>% & 9%(%&
6,#%:;%E,:;?&>?5&;(%A%6D?5&H?$&?&`4%:F?&>,&[$55,(;%BC,5&,&S,5,5&>%&V8Q/Ka&
, & % & A=5F% & 5, & >,= & 9?( & E,$? & >, & 5,;, & >,5F($;?(,53 & >,($#%>?5 & >% & F%;,*?($%&
9($:F$9%6 & `;(%A%6D? & >?F,:;,aL & _5 & (,5=6;%>?5 & >,5;, & ,5;=>? & E?5;(%E & ?&
F?:X=:;?&>,&;(%A%6D?5&9(?>=J$>?53&%&?(>,:%BG?&9?(&9,("?>?5&D$5;P($F?53&?5&
9($:F$9%$5&%59,F;?5&@=,&,5;G?&5,:>?&$:#,5;$*%>?53&%&>$H=5G?&>,&5=A;,E%5&%?&
6?:*?&>?&;,E9?3&?5&:"#,$5&,&%5&,;%9%5&>%&,>=F%BG?&9,5@=$5%>?5&,&?5&6?F%$5&
>, & 9(?>=BG?L & S(%;%<5, & >, & =E & ;(%A%6D? & >, & 5$5;,E%;$J%BG? & >?5 & >%>?5&
,:F?:;(%>?5 &, &>, &9(?9?5$BG? &>, &D$9P;,5,5&>, &$:#,5;$*%BG? &9%(% &9?5;,($?(&
,6%A?(%BG?&>?&,5;%>?&>%&%(;,L&&
.;<;=>;? ' 2B;=C8& S(%A%6D? & [?F,:;, & - & />=F%BG? & 4W5$F% & - & Q(?>=BG?&
8F%>OE$F%
>($z>=%(;,U=?6LF?ELA(
.!-2"#-#'"(32*)6G-#'b'("%-2!*)6E*26F&'("'0*'"#23"0*
[#j?YCW;Yj};AjkX'RC'C•SC>jCXAj;?'CX'C<'2++\
!=$5&K,*?#$%&),(:W:>,J3&8>%&86#%(%>?&Q%=F%(3&2=5;%#?&+$66%(&'%Y=:;=9%
V?6,*$?&4,(;?6;&4(,FD;&
!$E%&-&Q,(ML
& 8ER($F% &D%&5$>?&F?6?:$J%>%&,: &`F=,(9?&Y&E,:;,a3&6%5&:=,#%5 &H?(E%5 &>,&
#$>%&Y&>,&9,:5%E$,:;?&`E?>,(:?a&5,&#%:&$E9?:$,:>?&,:&F%>%&$:>$#$>=?&>,&
F%>%&9=,A6?3&:=,5;(%&$>,:;$>%>&5,&#%&9,(>$,:>?&%&6?&6%(*?&>,&6%&D$5;?($%3&6%&
%6,X%:&>,&:=,5;(?&`F=,(9?&Y&E,:;,a&?($*$:%6&F%5$&5$:&>%(:?5&F=,:;%3&Y&:?5&
,N9?:,3&F%>%&#,J&EW5&#%F"?5&>,&:=,5;(%&D,(,:F$%&9?9=6%(&%&6%5&`E?>%5a&
@=,&5=A6$E$:%6E,:;,&:?5&#%:&66,:%:>?L&
Q,(? & 6% & (,5$5;,:F$% & $>,?6P*$F% & Y & F=6;=(%6 & ,5 & F?:5;%:;,3 & :? & F6%=>$F% & Y & #,(W&
5$,E9(,&?9?(;=:$>%>,5&9%(%&>%(5,&5=&6=*%(3&9?5$F$?:%(5,&>,&;%6&E%:,(%&@=,&
;%EA$R:&5=&9=:;?&>,&#$5;%&5,%&;?E%>?&,:&F=,:;%L& & &dw=R&9(,;,:>,:&,5;?5&
%:;,F,>,:;,5&D$5;P($F?5 &Y&@=R&(,6%F$P: &;$,:,&F?: &:=,5;(%&6%A?(&,>=F%;$#%3&
D?Yf3&d9?>("%E?5&$E%*$:%(&9?(&=:&E?E,:;?&%&:=,5;(% &,5F=,6%&F?E?&=:%&
9,@=,l%&8ER($F%f3&d@=R&>,A,("%E?5&9,(E$;$(&Y&H?(E%(&,:&:=,5;(%&,5F=,6%f3&
d?A5,(#%E?5&$:;,(#,:F$P:&,N;,(:%f3&dVPE?&5,&>%&6%&(,6%F$P:&>,&9?>,(&,:;(,&
6?5&$:;,*(%:;,5&>,&:=,5;(%&,5F=,6%f3&d;%EA$R:&,:&:=,5;(%&,5F=,6%&,N$5;,:&
>?E$:%:;,5 & Y & >?E$:%>?5f & K?: & (,H6,N$?:,5 & @=, & 5=(*,: & % & 9%(;$( & >, & =:%&
9(?A6,EW;$F% & @=, & ;?>?5 & ?A5,(#%E?5 & ,: & :=,5;(? & 5$5;,E% & ,>=F%;$#?3 & Y & >,&
E%:,(%&EW5&F?:F(,;%&6%&#$#$E?5&,:&:=,5;(%5&,5F=,6%5L
Q%6%A(%5&V6%#,c&[,E?F(%;$J%F$P:3&S(%A%X?&>?F,:;,3&K$5;,E%;$J%F$P:
u=j<<;>W;liXYiS;xl;BTTKC?
;R;X;?w`xl;BTTKC?
'<ij?CUqpxl;BTTKC?&
","'/a
"#)*(-J'!"0*49"#'("':Z&"!-'"')!*+*01-'(-2"&)"8'!"70"H9"#'
&-'2-&)"H)-'(*#'&-G*#'2-&76:3!*49"#'(-')!*+*01-'&*'
#-26"(*("'2-&)"%.-!r&"*
'"($%E&'?(,66$&!$E%&.1beV8'Q3&4(%5$67&&
_&?AX,;$#?&>,5;,&%(;$*?&R&%:%6$5%(&%59,F;?5&>?&;(%A%6D?&H,E$:$:?&:?&F?:;,N;?&
>%&(,,5;(=;=(%BG?&9(?>=;$#%&:?&4(%5$63&,&?5&5,:;$>?5&@=,&,5;,&;(%A%6D?&;,E&
%>@=$($>?&F?E&,5;%5&;(%:5H?(E%BC,5L&8&9%(;$(&>,5;%&(,H6,NG?&$:$F$%6&A=5F%(W&
%9?:;%(&%6*=E%5&(,6%BC,5&>,55%5&E=>%:B%5&<&E%(F%>%5&9,6%5&(,6%BC,5&>,&
*O:,(?&<&F?E&?&;(%A%6D?&:?&E%*$5;R($?&>,&,:5$:?&H=:>%E,:;%63&%9?:;%:>?&
$:;,(5,BC,5&,:;(,&%&%>E$:$5;(%BG?&>?&/5;%>?3&%&5?F$,>%>,&>?&;(%A%6D?&,&%5&
(,6%BC,5&>,&;(%A%6D?&>?F,:;,&:?&,:5$:?&H=:>%E,:;%6L&
.;<;=>;?@AB;=C8'(,,5;(=;=(%BG?&9(?>=;$#%&-&(,6%BC,5&>,&*O:,(?&-&;(%A%6D?&
>?F,:;,L
E?(,66$LE$($%EU*E%$6LF?E
7"%6&6#%-'"'G6-0Z&26*'#"H3*08'3%'("+*)"'*3#"&)"'&*'
"(32*45+$(*":$%&V?,6$&4=,:?&>,&w=,$(?J&'%;$%5&-&.Q=FE$:%53&4(%5$67
_&,5;=>?&%:%6$5%&%5&(,6%BC,5&>,&5,N=%6$>%>,&,&*O:,(?&9(,5,:;,5&:?&F%5?&>,&
%A=5?&5,N=%6&$:;(%<H%E$6$%(3&:?&@=%6&?&9%$&R&?&%A=5%>?(L&_&%F?E9%:D%E,:;?&
F6":$F?&>%&X?#,E&>W&,#$>O:F$%5&>,&E=(?5&>,&5$6O:F$?53&>,&?(>,E&,N;,(:%&,&
$:;,(:%3&@=,&9,(9%55%E&?&F%5?&,&@=,&6,#%(%E&%&#";$E%&%&5,&9?5$F$?:%(&F?E?&
F=69%>%&,&$E9,>$(&%&>,:M:F$%&>?&%A=5%>?(L&Q?(&E=(?&,N;,(:?3&,:;,:>,E?5&
;?>?5 &?5 &%;(%#,55%E,:;?53 &>, &?(>,E &5?F$%6 &, & F=6;=(%63 &9,(9%55%>?5 &9,6%5&
@=,5;C,5 & >, &*O:,(? & , & $:5;$;=">?5 & 9,6? &9%;($%(F%>? &%:>(?FO:;($F?3 & ?:>, &%5&
E,:$:%5 & H?(%E & H%A($F%>%5 & F?E? & ?AX,;?5 & >, & F?:5=E?3 & F?E? & A?:,F%5&
,(P;$F%5&,&$:F,5;=?5%5&,&?=;(?3&>,&?(>,E&$:;,(:%3&@=,&?&%F?E9%:D%E,:;?&
95$F%:%6";$F?&;,:;%&>,5#,:>%(&:%&5=%&$:;,(#,:BG?&,&@=,&5,&(,6%F$?:%&F?E&?&
(,F%6@=,L & _ & H?F? & >,5;, & ,5;=>? & R & ? & E=(? & ,N;,(:?3 & F?:5$>,(%:>? & @=, & ?&
H,:pE,:? & >% & #$?6O:F$% & 5,N=%6 & :G? & R & =E & 9(?A6,E% & $:>$#$>=%63 & >, & =E%&
H%E"6$%3&R&=E&H,:pE,:?&F?E96,N?&,&E=6;$>$E,:5$?:%6&,&;(%;%(&>,55,&;,E%&
$E96$F% & ,E & >$%6?*%( & F?E & =E% & 5R($, & >, & F & ,:W($?5 & @=, & 5, & ,:;(,F(=J%EL&
Q%6%#(%5<FD%#,c & %A=5? & 5,N=%6 & - & H,E$:$5E? & < & ,>=F%BG? & F?E96,N? & ,&
E=6;$>$E,:5$?:%6&,&;(%;%(&>,55,&;,E%&$E96$F%&,E&>$%6?*%(&F?E&=E%&5R($,&>,&
F&,:W($?5&@=,&5,&,:;(,F(=J%EL&
.;<;=>;?@AB;=C8&%A=5?&5,N=%6&-&H,E$:$5E?&-&,>=F%BG?L
#$(*$:$%FH@UY%D??LF?ELA(
1I'03:*!'.*!*'-'.!-7"##-!'1-%"%'&*'"(32*45-'6&7*&)60Q'
*0:3%*#'!"70"H9"#'.*!*'."&#*!'*#'!"0*49"#'("':Z&"!-
\?%@=$E&Z%E?5&.Q1V<'$:%53&4(%5$67
'%($%&>?&V%(E?&r%#$,(&.Q1V<'$:%53&4(%5$67&&&&
8&,>=F%BG?&>,&F($%:B%5&,:;(,&j&,&k&%:?5&>,&$>%>,&R3&F?E=E,:;,3&%55?F$%>%&
%?&H,E$:$:?3&9?$5&,5;W&$:;$E%E,:;,&#$:F=6%>%&%?&%H,;?&,&^&E%;,(:%*,EL&/E&
4,6?&I?($J?:;,3&%&9%(;$(&>,&ijjg3&D?=#,3&9%=6%;$:%E,:;,3&?&$:*&(,55?&>,&mg&
9(?H,55?(,5&>?&5,N?&E%5F=6$:?&:%&Z,>,&'=:$F$9%6&>,&/>=F%BG?&9%(%&%;=%(&
:%&>?FO:F$%&>,&F($%:B%5&9,@=,:%5L&_&9(?9P5$;?&>,5;%&F?E=:$F%BG?&R3&^&6=J&
>%5 & (,6%BC,5 & >, & *O:,(?3 & >$%6?*%( & 5?A(, & % & ,:;(%>% & >,55,5 & 5=X,$;?5 & :,55%&
,;%9%&>%&,>=F%BG?&AW5$F%3&9(?A6,E%;$J%:>?&%&F(,:B%&D$5;P($F%&>,&@=,&,55%&
%;$#$>%>, & R & ,E$:,:;,E,:;, & H,E$:$:%L & Q%(% & ;%:;?3 & ,:;(,#$5;%E?5 & %6*=:5&
>,55,5 & 9(?H,55?(,5 & ,3 & :,55, & +eee & K,E$:W($? & >% & Z,>, & /5;(%>?3&
%9(,5,:;%(,E?5&H(%*E,:;?5&>,55,5&(,6%;?5&>,&H?(E%&%&>,5;%F%(&%5&(%JC,5&
9(,9?:>,(%:;,5 & 9%(% & @=, & ,55% & $:5,(BG? & 5, & ,H,;$#%55,L & 8? & $:>%*%( & >,55,5&
9(?H$55$?:%$5&-&E$:?($%&9(,5,:;,&:,55%5 &$:5;]:F$%5 &9MA6$F%5 &>,&,>=F%BG? &<&
5?A(, & ? & 6=*%( & (,5,(#%>? & %? & D?E,E & :?5 & ,59%B?5 & $:5;$;=F$?:%$53 & ? & ;,N;?&
9(?>=J & =E% & $:;,(9(,;%BG? & >?5 & ,6,E,:;?5 & @=, & ,N96$F%E & %5 & F?:>$BC,5 & :%5&
@=%$5 & ;,E & 5, & F?:H$*=(%>? & % & 9(,5,:B% & E%5F=6$:% & :% & >?FO:F$% & >, & F($%:B%5&
9,@=,:%5L
.;<;=>;? ' AB;=C?8 'Z,6%BC,5 & >, & *O:,(?3 & 9(?H,55?(,5 & D?E,:53 & />=F%BG?&
$:H%:;$6L
X?%@=$E(%E?5iUY%D??LF?ELA(
F%(E$:D%NUD?;E%$6LF?E
%301"!"#'":!"##*#'(*'",*'&*'37%:'"'#3*#')!*,")F!6*#
!=>$E$6%&V?((O%&4%5;?5&.)8/01)'23&4(%5$67
V%(E,E&!MF$%&/$;,(,(&.)8/01)'23&4(%5$67
86*=:5 & ,5;=>?5 & (,F,:;,5 & E?5;(%E & %5 & F?:>$BC,5 & >,5$*=%$5 & % & @=, & 5,&
5=AE,;,E & ,>=F%:>%5 & , & ,>=F%:>?5 & ,E & 5,= & (,;?(:? & , & 9,(E%:O:F$% & :%&
,5F?6%L &/5;%&9,5@=$5%&>,5,:#?6#,<5,&F?E&,*(,55%5&>?&Q(?*(%E%&>,&/\8&>%&
1)'2 & , & ;,E & F?E? & ?AX,;$#? & F,:;(%6 & F?:D,F,( &%5 & ;(%X,;P($%5 & >,6%5 & F?E?&
,*(,55%5 & >,5;, & Q(?*(%E%3 & A=5F%:>? & F?E9(,,:>,( & ?5 & ,H,$;?5 & >=(W#,$5 & >%&
,5F?6%($J%BG? & ,E & 5=%5 & #$>%5L &[,5;% & H?(E%3 & % & $:#,5;$*%BG? & %6E,X?=&
F?E9(,,:>,(& F?E?&,5;%5&E=6D,(,5&%#%6$%E&%&$:H6=O:F$%&>%&,5F?6%&,E&5=%&
@=%6$>%>, & >, & #$>% & , & F?E? & % & $:H6=O:F$% & >%5 & #$#O:F$%5 & >? & 9,("?>? & ,5F?6%(&
9?>,E&?=&:G?&;(%:5H?(E%(&5=%5&(,6%BC,5&F?E&%&5?F$,>%>,L &_5&(,5=6;%>?5&
9%(F$%$5 & %9?:;%E & @=, & ? & (,;?(:? & ^ & ,5F?6% & ;(%J & (,5=6;%>?5 & F?:5$>,(%>?5&
9?5$;$#?5 & 9%(% & ,6%5 & F?E? & % & (,%6$J%BG? & >, & %6*=:5 & 5?:D?5 & %>?(E,F$>?53 & ?&
9(?F,55?&>,&5?F$%6$J%BG?&F?E&?5&F?6,*%5&>,&;=(E%&,&?&%=E,:;?&>%&%=;?<
,5;$E%&,&>%&F?:H$%:B% &,E&5$&E,5E%5L&+,($H$F%E?53 &9?(RE3&@=, &^&E,>$>%&
@=,&5%,E&>%&,5F?6%&%&(?;$:%&%:;,($?(&%&,6%&#?6;%&%&5,&$:5;%6%(L&Q?(&H$E3&,5;%&
%:W6$5,&9(?9?(F$?:%&=E%&(,H6,NG?&%F,(F%&>,&5,&%&H(,@nO:F$%&%&=E&9(?X,;?&>,&
/\8&9?>, &F?:;($A=$(&9%(% &@=,&5=%5 &,*(,55%5 &E?>$H$@=,E&5,=5&#%6?(,5&,&%&
H?(E%&>,&9,:5%(&%&5?F$,>%>,3&;(%B%:>?&%55$E&:?#?5&?AX,;$#?5&,&E,;%5&,E&
5=%5&#$>%5L&
.;<;=>;?@AB;=C8&/\83&2O:,(?3&/*(,55%53&S(%X,;P($%5L
6=>$E$6%F?((,%UY%D??LF?ELA(
-'0":*(-'16#)F!62-'(*'%301"!'&*'#3*'2-&#)6)3645-'("'
.!-7"##-!*
V?:F,$BG?&>,&'%($%&'?=(%&b%5F$E,:;?&Z%E?5&.1)'83&4(%5$67&
/5;, & %(;$*? & ?AX,;$#% & %:%6$5%( & %5 & E%(F%5 & D$5;P($F%5 & >% & E=6D,( & :% & 5=%&
F?:5;$;=$BG? & >, & 9(?H,55?(% & ;,:>? & 9?( & (,H,(O:F$% & =E & $;$:,(W($? & #?6;%>? & ^5&
5,*=$:;,5&@=,5;C,5c&V?E?&D$5;?($F%E,:;,&%&E=6D,(&H?$&#$5;%&:%&F?E=:$>%>,&
9($E$;$#% & ^ & 5?F$,>%>, & >$#$>$>% & ,E & F6%55,5f & [, & @=, & H?(E% & % & E=6D,( & H?$&
,>=F%>%&:?&4(%5$6f&V?E?&?&;(%A%6D?&H?(%&>?&6%(&H?$&F?:@=$5;%>?&9,6%&E=6D,(f&
[, & @=, & H?(E% & % & E=6D,( & 5, & ;?(:% & 9(?H,55?(% & :? & 5$5;,E% & F%9$;%6$5;%f & 85&
(,59?5;%5&(,*$5;(%>%5&H?(%E&A%5,%>%5&:%&6,$;=(%&,&$:;,(9(,;%BG?&>,&H?:;,5&
%F,(F%&>?&;,E%L&
.;<;=>;?@AB;=C8&/>=F%BG?T&'=6D,(T&Q(?H,55?(%L
E?=(%U=HE%LA(
-'%*:6#)_!6-'2-%-'.!-76##5#-'7"%6&6&*8'G-2*45-'-3'
2-&#)!345-'#-26*0Q
'%*>%&VD%E?:&.1/'23&4(%5$67
/5;, & %(;$*? & ,N96?(% & @=,5;C,5 & @=, & ;OE & F?E? & ,$N? & %5 & (%"J,5 & D$5;P($F%5 & >?&
9(?F,55?&>,&H,E$:$J%BG?&>?&E%*$5;R($?&:?&5$5;,E%&>,&,:5$:?&,6,E,:;%(3&,E&
'$:%5 & 2,(%$53 & F?E & >,5;%@=, & :%5 & (,6%BC,5 & >, & *O:,(? & , & F6%55, & 5?F$%63&
9(,5,:;,5 & :,55, & 9(?F,55?L & Q(?F=(% & %:%6$5%( & F?E? & ? & ;(%A%6D? & >?F,:;, & H?$&
9(?*(,55$#%E,:;, & 9%55%:>? & >, & ;(%A%6D? & E%5F=6$:? & % & ;(%A%6D? & H,E$:$:?3&
,:;(,&?5&5RF=6?5&rer&,&rr3&,&5?A&@=,&F?:>$BC,5&,55%5&E=>%:B%5&5,&>,(%EL&8&
$:#,5;$*%BG? & 9(?9?(F$?:?= & % & F?E9(,,:5G? & >, & F?E? & % & H,E$:$J%BG? & >?&
E%*$5;R($? & (,9(,5,:;%3 & >, & H%;?3 & =E & 9(?F,55? & >, & 5=A?(>$:%BG? & ,&
>,59(?H$55$?:%6$J%BG?&>?&?H"F$?&>,&,:5$:%(&?&@=%63&$>,?6?*$F%E,:;,3&H?$&5,:>?&
%55?F$%>?&%?&F?:F,$;?&>,&`#?F%BG?a3&@=,&9%(%&5,(&,N,(F$>?&>,9,:>$%&>,&=E&
`>?E & :%;=(%6a & , & >, & =E% & A?% & >?5, & >, & %E?(L & 855$E3 & %9,6?5 & %? & ;(%A%6D?&
H,E$:$:?&9%(%&?&,N,(F"F$?&>?&E%*$5;R($?&5,&%E96$%E&:%&E,5E%&9(?9?(BG?&>?&
:,F,55W($? & %=E,:;? & >% & (,>, & >, & ,:5$:? & 9($EW($?L & / & ,55,5 & %9,6?5 & >?5&
(,9(,5,:;%:;,5&>%5&9?6";$F%5 &9MA6$F%53&#$:F=6%>?5&^&9?55$A$6$>%>,&>,&E%$?(&
E?A$6$J%BG? & 9,6?5 & ,59%B?5 & 9MA6$F?5 & #G? & 5, & E%;,($%6$J%:>? & :? & $E%*$:W($?&
H,E$:$:?&, &:%&.F?:7 &H?(E%BG? &>, &$>,:;$>%>,5&, &5=AX,;$#$>%>,5&9,55?%$5 &,&
9(?H$55$?:%$5L & _5 & ,5;=>?5 & >?5 & 9%9R$5 & >, & *O:,(? & , & ,>=F%BG? & %X=>%E & %&
F?E9(,,:>,(&=E%&9%(;,&5$*:$H$F%;$#%&>%5&@=,5;C,5&@=,3&D?X,3&5,&F?6?F%E&^&
9(?H$55G? & >?F,:;,3 & , & ^ & :,F,55$>%>, & >, & >,5F?:5;(=BG? & >? & $E%*$:W($?&
$E9(,*:%>?&:%5&E,:;%6$>%>,5&5?A(,&%&%9%(,:;,&:%;=(%6$J%BG?&>?&E%*$5;R($?&
F?E?&=E&;(%A%6D?&H,E$:$:?L
.;<;=>;?@AB;=Cc & D$5;P($% & >% & ,>=F%BG?T & ,>=F%BG? & , & *O:,(?T & 9?6";$F%5&
9MA6$F%5T&$>,:;$>%>,&9(?H$55$?:%6L
)!*+*01-'(-2"&)"J':Z&"!-'"'6("&)6(*("#
V6W=>$%&[,:"5&86#,5&>%&Q%J&.1:43&4(%5$67&
/5;,&%(;$*? &>$5F=;,&,E&@=,&E,>$>%&%&9(W;$F%&>?F,:;,&(,9(?>=J&%&?9(,55G?&
>, & *O:,(? & @=, & #$*?(% & :% & 5?F$,>%>,T & F?E? & %5 & 9(?H,55?(%5 & >% & ,>=F%BG?&
$:H%:;$6&,:;,:>,E&?&;(%A%6D?&>?F,:;,&H,E$:$:?T&,3&@=,&F?:;(%>$BC,5&9?>,E&
5,( & 9,(F,A$>%5 & :%5 & (,H6,NC,5 & 9(,5,:;,5 & ,E & 5=%5 & H%6%53 & % & 9%(;$( & >, & =E&
,5;=>?3&:?&@=%6&>$5F=;$E?5&%5&(,6%BC,5&>,&*O:,(?&:?&;(%A%6D?&>?F,:;,3&,E&
=E%&,5F?6%&>,&/>=F%BG?&e:H%:;$6L&8&F?6,;%&>,&>%>?5&H?$&(,%6$J%>%&>,:;(?&>%&
%A?(>%*,E&>, &$:#,5;$*%BG? &@=%6$;%;$#%3&:%&9,(59,F;$#% &,;:?*(WH$F%3&?&@=,&
9?55$A$6$;?=&%&$:;,(%BG?&F?E&?5&5=X,$;?5&,E&5,=&F?;$>$%:?&>,&H?(E%&:%;=(%6L&
_&,5;=>?&(,#,6?=&@=,&%5&9(?H,55?(%5&>,&,>=F%BG?&$:H%:;$6&9,(F,A,E&F,(;%&
>$5F($E$:%BG? & , & >,5@=%6$H$F%BG? & F?E & (,6%BG? & %? & 5,= & ;(%A%6D?3 & E%5 & :G?&
F?:5,*=,E & 9,(F,A,( & @=,3 & ;%:;? & ,E & 5=%5 & H%6%53 & F?E? & ,E & 5=%5 & 9(W;$F%5&
>?F,:;,53&%*,E&>,&H?(E%&@=,&F?:;($A=,E&9%(%&(,9(?>=BG?&>?5&,5;,(,P;$9?5&
>,&*O:,(?&,&>%5&$>,:;$>%>,5&H,E$:$:%5&?=&E%5F=6$:%5&H$N%5L&85&F($%:B%5&5G?&
,N9?5;%5&%&E?>,6?5&>,&$>,:;$>%>,5&H$N%5&>,&E%5F=6$:$>%>,&,&H,E$:$6$>%>,3&
E%5 & % & ,5F?6% & ;%EARE & 9?>, & 5,( & ? & 6?F%6 & ?:>, & 5,=505=%5 & 9(?H$55$?:%$5&
9(?A6,E%;$J,E3&>$5F=;%E&,0?=&E?>$H$@=,E&5=%5&9(W;$F%53&%&9%(;$(&>,&=E%&
H?(E%BG? & 9(?H$55$?:%6 & F?:;$:=%>% & #?6;%>% & 9%(% & %5 & (,6%BC,5 & >, & *O:,(? & ,&
;,E%5&%6$:D%>?5&%&,5;,L
.;<;=>;?'AB;=C8&;(%A%6D?&>?F,:;,3&*O:,(?3&,>=F%BG?&$:H%:;$6L
F6%=>$%>,:$5U;,((%LF?ELA(
3%*'!"70"H5-'#-+!"'-'G*0-!'(-')!*+*01-'7"%6&6&-'&-'
#")-!'.$+062-8'-'2*#-'(-')!*+*01-'(-2"&)"'&*'"(32*45-'
+I#62*
'%($%&>%&V?:5?6%BG?&Z?FD%
b,5;,&%(;$*?&%:%6$5%E?5&%5&9?6";$F%5&>,&#%6?($J%BG?&>?&;(%A%6D?&>?F,:;,&%&
9%(;$(&>%&(,H6,NG?&>%&>$#$5G?&5,N=%6&>?&;(%A%6D?&%&H$E&>,&#,($H$F%(E?5&,E&
@=, & E,>$>% & ;%$5 & 9?6";$F%5 & (,9(,5,:;%E & ?= & :G? & =E% & 9,(59,F;$#% & >,&
#%6?($J%BG?&>?&;(%A%6D?&H,E$:$:?L&_&%(;$*?&,5;W&?(*%:$J%>?&,E&;(O5&9%(;,5L&
b%&9($E,$(%3&(,;?E%E?5&?5&>$#,(5?5&>,A%;,5&?F?(($>?5&:?&5,;?(&/>=F%F$P:%6&
%F,(F%&>?&;(%A%6D?&>?F,:;,L&b%&5,*=:>%&9%(;,3&%9(,5,:;%E?5&%&F?:;($A=$BG?&
>,&,5;=>?5&5?A(,&?&;(%A%6D?&H,E$:$:?&:%&9,(59,F;$#%&>%&>$#$5G?&5,N=%6&>?&
;(%A%6D?L & Q?( & H$E3 & A=5F%E?5 & F?E9(,,:>,( & F?E? & % & ?(*%:$J%BG? & 5?F$%6&
(,9,(F=;,&:%&.>,57&#%6?($J%BG?&>?&;(%A%6D?&H,E$:$:?&:?&F%E9?&/>=F%F$P:%6L
.;<;=>;?@AB;=C8 ';(%A%6D? & H,E$:$:?3 & ;(%A%6D? & >?F,:;,3 & >$#$5G? & 5,N=%6 & >?&
;(%A%6D?L
;=F%skgU?$LF?ELA(
230)3!*J':_&"!-J'6&)"!230)3!*06(*('b'2-0-&6*06(*('("0'
.-("!'"&'0-#')"H)-#
"#2-0*!"#'("'2-%3&62*26F&K
2;>T<jX;'->Yj}'7C>X€XRC}'
dV=W6,5&5?: &6%5&$EW*,:,5& &@=,&5,&;(%:5E$;,:&5?A(, &,6&Q,(M& &,:&;R(E$:?5&
,;:?(%F$%6$J%>?53 & >, & *R:,(? & Y & 9?>,( & ,: & 6?5 & ;,N;?5 & ,5F?6%(,5 & >,&
V?E=:$F%F$P:&>,&,>=F%F$P:&5,F=:>%($%f& &dV=W6&,5&,6&6=*%(&>,&,5;?5&;,N;?5&
,:&,6&9(?F,5?&>,&F?:5;$;=F$P:&>,6&`,5;%>?&:%F$P:a&f&&dK,&%9(,F$%:&&9(?F,5?5&
>,&>,E?F(%;$J%F$P:&Y&>,&H?(E%F$P:&>,&F$=>%>%:"%5&$:;,(F=6;=(%6,5f&
Q%(% & (,59?:>,( & % & ,5;%5 & 9(,*=:;%53 & F?E? & $:;,*(%:;, & >,6 & 9(?Y,F;?&
E=6;$>$5F$96$:%($? & >, & $:#,5;$*%F$P: & 5?A(, & `!?5 & ;,N;?5 & ,5F?6%(,5 & >,&
F?E=:$F%F$P:&Y&,6&;,E%&>,&6%&$:;,(F=6;=(%6$>%>&-$EW*,:,5&Y&>$5F=(5?5&.:$#,6&
5,F=:>%($%7a3&,:&,5;%&?F%5$P:&,:&9($E,(&6=*%(&(,%6$J%(R&=:%&A(,#,&(,H6,N$P:&
D$5;P($F% & & 5?A(, & 6% & F?:5;$;=F$P: & >, & 6?5 & `,5;%>?5 & :%F$P:a3 & 5,*=$>%E,:;,&
,N96?(%(R & 6%5 & $EW*,:,5 & Y & >$5F=(5?5 & >, & 6?5 & ;,N;?5 & >, & V?E=:$F%F$P: & >,&
,>=F%F$P:&5,F=:>%($%&,6%A?(%>?5&9?(&6%&,>$;?($%6&K%:;$66%:%3&,:&9%(;$F=6%(&6?5&
;,N;?5&>,&F=%(;?&Y&@=$:;?&%l?53&Y&F?:F6=$(R&&F?:&%6*=:%5&(,H6,N$?:,5&H$:%6,5L
.;<;D>;?'A<;=Cc&V=6;=(%3&*R:,(?3&F?6?:$%6$>%>3&$:;,(F=6;=(%6$>%>3&9?>,(&Y&
V?E=:$F%F$P:L
?F%(?6$:%H,(:%:>,JUY%D??LF?E