!
%
!"#""#$#%&'(%
!
"#!$#%&'()*&+(&!,-!$#.%/00&'(!&(1&12(*&!&'3,'2#.&'!!
0&%!%,#(!.4&##/0!5&#!*$+1$'&++&!(*/+&(&**&#
!!
!
!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!6,(1&'!2!7,'#&*$+1$'!/.!*$#(18&%,./.2**!
696:;<=>>!?!6,(1&'/88.,-&!
@'/#%A&20B!A)(1!C>D=!
!
!
! !
!GG!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!"#$%&'(%)&'*!!!
!"#$%&'$(")*%+#"%+,#-$(.//.01-0%!"#$%&$%'"()$%"2%3"0("%4-.%5"0$-(-"(-#6%
!.07%(./%8./)-(9%:(('9;;<<<6'"0("#-.)"0$-(-"(-#6=,>;(./(?1#,<;0,#"@+,//,<$@(:-@)#-">%
%
%
!G!
-'))$#.(',%%
5-00-%>"$(-#,''1"2-0%.%8"#0-7A/(A#%,1%7A0$('-)"1,1.77%-#%-0%72"/.("(.2%A0)-#$B7-/$-%:2,#%
A01),>$%-$(-(.$7-%-#+"#.01%>-)%)"0$%.%5CD%E5-0%7A/(A#-//-%$7,/-$-77-0F%A0)-#$B7-$6%GH/-(%
:"#%2I#(%H%/B+(-%)-#-$%$(->>-*%$-%:2"%$,>%$7J-#%.%)-((-%7A0$(>B(-(%,1%$.%0,-%,>%:2./7-%
72"/.(-(-#%A01),>>-0-%2-#)$-((-#%.%)-00-%$">>-0:-01-06%K-0$.7(-0%>-)%,''1"2-0%-#%H%
$L0/.11JB#-%2.7(.1:-(-0%"2%H%,''/-2-%)"0$*%,1%"2%H%/L((-%(./%A01),>>-0-$%'-#$'-7(.2-#%,1%
'#-+-#"0$-#%.%5CD@$">>-0:-016%5-((-%,1$H%+,#%H%7A00-%+,#$(H%,1%>B(-%)->%.%)-#-$%
+,#$(H-/$-#*%8H)-%.%-0%7A0$(0-#.$7%,1%-0%'-)"1,1.$7%).$7A#$6%M#+"#.01-0-%-#%$-((%.%$">>-0:-01%
>-)%3"0("%4-.%5"0$-(-"(-#%$.((%2.#7-%,1%)-#-$%+,#-$(.//.01%!"#$%&$%'"()$*%
3#,8/->$(.//.01-09%
K2,#)"0%-#+"#-#%A01),>%.%2.)-#-1H-0)-%$7,/-%+,#-$(.//.01-0%!"#$%&$%'"()$%1J-00,>%5-0%
7A/(A#-//-%$7,/-$-77-0N%
O-,#-(.$7%+,#"07#.01*%>-(,),/,1.%,1%+,#$70.01$>-(,)-#%
O-,#-(.$7-%'-#$'-7(.2-#%$,>%/.11-#%(./%1#A00%+,#%+,#(,/70.01%,1%)#B+(.01%-#%.%:,2-)$"7%+#"%
(-,#.-#%,>%#-/"$J,0-//%7A0$(%:-0(-(%+#"%P,A##."A)%,1%'-#+,#>"(.2%-$(-(.77%:,$%Q.$=:-#@!.=:(-6%
R,:0%5-<-L%,1%:"0$%)-+.0.$J,0%"2%:2"%-0%-$(-(.$7%-#+"#.01%-#%2.)-#-%)#B+(-(6%S%(.//-11%8#A7-$%
(-,#.-#%#A0)(%)"0$-(-"(-#@%,1%$">(.)$)"0$$J"01-#-0*%,1%A01),>$7A/(A#6%
T0)-#$B7-/$-0%:"#%-0%:-#>-0-A(.$7@+-0,>-0,/,1.$7%(./0I#>.01*%:2,#%J-1%$,>%+,#$7-#%B0$7-#%
H%+,#(,/7-%A01),>>-0-$%,''/-2-/$-#6%S%-((-#7"0(%"2%+,#-$(.//.01-0*%$,>%A01),>>-0-%E,1%J-1F%
,2-#2"#%$">>-0*%8/-%)-(%+,#-("((%(,%+,7A$1#A''-.0(-#2JA-#%>-)%(./%$">>-0%$JA%A01),>>-#%.%
U6%7/"$$-%'H%2.)-#-1H-0)-%$7,/-*%:2,#%"//-%2"#%.%"/)-#-0%UV%H#6%T01),>>-0-%1H#%(,%+,#$7J-//.1-%
$(A).-#-(0.01-#*%)-0%-0-%1#A''-0%$(A).-$'-$."/.$-#-0)-%,1%)-0%"0)#-%>A$.77*%)"0$%,1%)#">"*%
>-)%+,#)L'0.01%.%)"0$6%S%(.//-11%8/-%)-(%8H)-%1J,#(%.0(-#2JA-#%>-)%7A0$(0-#.$7%/-)-#%,1%)"1/.1%
/-)-#%"2%3"0("%4-.%)"0$-(-"(-#*%$,>%,1$H%7,#-,1#"+-#(-%!"#$%&$%'"()$*%,1%>-)%(,%+,#$7J-//.1-%
5CD@#H)1.2-#-%.%O#B0)-/"16%WJ-00,>%0"##"(.2%,1%$L$(->"(.$-#(%"0"/L$-%8/-%)-(%(#A77-(%A(%
+,#$7J-//.1-%7"(-1,#.-#*%-//-#%7J-#0-'A07(-#*%+#"%A01),>>-0-$%,''/-2-/$-6%5.$$-%+.#-%'A07(-0-%
,>:"0)/-#9%UF%5#">"(A#1.$7%+,#>*%XF%O-70.77*%7,#-,1#"+.%,1%8-2-1-/$-$$'#H7*%YF%O->"(.77%
,1%>-0.01$$7"'.01*%ZF%M$(-(.$7%-#+"#.016%[.)-#-%+,#(,/7-$%,1%)#B+(-$%).$$-%,''%>,(%2"/1(%(-,#.6%
% %
!GG!
Q,#$70.01%,1%+,#$70.01$+A00%
Q,#$70.01$+A00%2.$-#%8/"0(%"00-(%"(%A01),>>-0-%+#"%A0)-#$B7-/$-0%+,#8.0)-#%72"/.(-(-0-%.%
+,#-$(.//.01-0%!"#$%&$%'"()$%>-)%"(%)-0%(#-++-#%)->%$,>%UV@H#.01-#*%:2,#%)-%7"0%\#-/"(-#-%
$-1%(./%8A)$7"'-0-%,1%+,#$(H%)->]*%$,>%)-%$-/2%A((#L77-#6%5-%-#%2-/).1%',$.(.2-%(./%)-0%
)#">"(A#1.$7-%+,#>-0*%:2,#%)-%8H)-%8/.#%.07/A)-#(%,1%$-((%$,>%'A8/.7A>6%S%(.//-11%$7"'-#%
A((#L77$+,#>-0*%:2,#%8H)-%)"0$*%>A$.77%,1%(-7$(*%,1%:2,#%A(B2-#0-$%'-#$,0/.1-%:.$(,#.-#%
7,>>-#%+#->*%-0%0I#:-(%,1%-0%+"$.0"$J,0%$,>%)-%2-#)$-((-#6%T0)-#$B7-/$-0%7,07/A)-#-#%>-)%
"(%)-%"//-%+H#%-0%-$(-(.$7%-#+"#.01*%A(%.+#"%8H)-%5-<-L%,1%Q.$=:-#@!.$:(-$%)-+.0.$J,0-#*%>-0%J-1%
$(.//-#%$'B#$>H/%2-)%,>%+A00-0-%:"))-%2I#(%)-%$">>-%,>%J-1%$,>%+,#$7-#%E,1%/I#-#F%.77-%
:"))-%1H((%.00%,1%$(./(%$'B#$>H/%2-)%,1%#A0)(%:-0)-/$-06%%
%
%
%
%
%
%
%
%
%
%
%
%
^B77-/,#)9%5"0$*%A01),>*%5-0%7A/(A#-//-%$7,/-$-77-0*%#-/"$J,0-//%7A0$(*%-$(-(.$7%-#+"#.01%%
% %
!GGG!
/012('32%
O:.$%>"$(-#_$%(:-$.$%.0%=:./)#-0_$%=A/(A#-%"0)%"#(%-)A="(.,0%.$%"%`A"/.("(.2-%$(A)L%<:-#-%L,A(:a$%
-b'-#.-0=-%<.(:%)"0=-%.0%O:-%cA/(A#"/%4A=7$"=7%EOc4F%.$%-2"/A"(-)6%O:-%".>%:"$%8--0%(,%
#".$-%(:-.#%2,.=-*%(,%#-2.-<%(:-.#%.0(-#"=(.,0%<.(:%(:-%"#(.$(.=%-0=,A0(-#%"0)%$"L%$,>-(:.01%
"8,A(%<:"(%(:-L%"''#-=."(-%.0%(:.$%=,0(-b(6%O:-%'A#',$-%,+%(:-%"$$.10>-0(%.$%(,%:.1:/.1:(%(:-%
.>',#("0=-%,+%-b'-#.-0=.01%)"0=-%"0)%(,%/.$(-0%(,%(:-%L,A(:_$%'-#$'-=(.2-$%"0)%'#-+-#-0=-$%.0%
Oc4%=,0(-b(*%.0%'"#(.=A/"#6%d0)%(,%8-((-#%A0)-#$("0)%"0)%-01"1-%<.(:%(:->%.0%(:-.#%
'-#=-'(.,0$*%8,(:%.0%"0%"#(.$(.=%"0)%"0%-)A="(.,0"/%).$=,A#$-6%O:-%-b'-#.-0=-$%"#-%$--0%.0%(:-%
=,0(-b(%,+%3"0("%4-.%5"0=-%O:-"(-#_$%<,#7%"0)%(:-.#%'-#+,#>"0=-%!"#$%&$%'"()$6%
O:-%'#,8/->%+,#>A/"(.,09%
K,<%),%L,A(:%.0%:.1:%$=:,,/%-b'-#.-0=-%(:-%'-#+,#>"0=-%!"#$%&$%'"()$%(:#,A1:%O:-%
cA/(A#"/%4A=7$"=7N%
O:-,#-(.="/%'-#$'-=(.2-$*%>-(:,),/,1L%"0)%#-$-"#=:%>-(:,)$%
O:-%(:-,#-(.="/%'-#$'-=(.2-$%"#-%>".0/L%8"$-)%,0%(:-,#.-$%,+%(:-%#-/"(.,0"/%"#(%("7-0%+#,>%
P,A##."A)%"0)%'-#+,#>"(.2-%"-$(:-(.=$%+#,>%Q.$=:-#@!.=:(-6%e:-0%=,0$.)-#.01%(:-%"-$(:-(.=%
-b'-#.-0=-*%R,:0%5-<-Lf$%)-+.0.(.,0%.$%).$=A$$-)6%S0%")).(.,0*%(:-,#.-$%+#,>%)"0=-%(:-"(#-*%
=,0(->',#"#L%)"0=-*%"0)%L,A(:%=A/(A#-*%"#-%"''/.-)6%
O:-%$(A)L%:"$%"%:-#>-0-A(.=@':-0,>-0,/,1.="/%"''#,"=:*%<:-#-%S*%"$%(:-%#-$-"#=:-#*%<"0(%(,%
.0(-#'#-(%L,A(:a$%-b'-#.-0=-$6%d+(-#%(:-%'-#+,#>"0=-*%<:.=:%(:-%L,A(:%E"0)%SF*%<"(=:-)%
(,1-(:-#*%(<,%+,=A$%1#,A'%.0(-#2.-<$%<.(:%"%(,("/%,+%$-2-0%'-,'/-%+#,>%(:-%U$(%1#")-%.0%:.1:%
$=:,,/*%UV%L-"#$%,+%"1-*%<-#-%),0-6%O:-%$(A)-0($%$(A)L%.0%(<,%).++-#-0(%'#,1#">$*%,0-%1#,A'%
$'-=."/.g.01%.0%1-0-#"/%$(A).-$%"0)%(:-%,(:-#%,0-%.0%(:-%'#,1#">9%>A$.=*%)"0=-%"0)%)#">"*%
$'-=."/.g"(.,0%.0%)"0=-6%S0%")).(.,0%.0(-#2.-<$%<.(:%(:-%"#(.$(.=%).#-=(,#%"0)%(:-%1-0-#"/%
>"0"1-#%,+%3"0("%4-.%5"0=-%O:-"(#-*%"0)%<.(:%(<,%).++-#-0(%Oc4%")2.$-#$%.0%O#B0)-/"1*%<-#-%
),0-6%O:#,A1:%0"##"(.2-%"0)%$L$(->"(.=%"0"/L$.$%,+%(:-%.0(-#2.-<$%+,A#%="(-1,#.-$%"#-%
:.1:/.1:(-)9%UF%5#">"(A#1.="/%+,#>*%XF%O-=:0.`A-*%=:,#-,1#"':L%"0)%>,2->-0(%/"01A"1-*%YF%
O:->"(.=%"0)%>-"0.01@>"7.01*%"0)%ZF%d-$(:-(.=%-b'-#.-0=-6%O:-$-%="(-1,#.-$%"#-%+A#(:-#%
.0(-#'#-(-)%"1".0$(%=:,$-0%(:-,#-(.="/%'-#$'-=(.2-$6%
%
%
!GH!
4-$-"#=:%+.0).01$%
O:-%+.0).01$%$:,<%(:"(%(:-%L,A(:%+#,>%(:-%$A#2-L%+.0)%(:-%'-#+,#>"0=-%!"#$%&$%'"()$%
>-"0.01+A/6%O:-L%"$$,=."(-%(:-%`A"/.(.-$%,+%(:-%'-#+,#>"0=-%<.(:%#-/"("8/-%>-$$"1-$*%<:.=:%
(:-L%="0%A0)-#$("0)6%O:-L%"#-%',$.(.2-%"8,A(%(:-%)#">"(A#1.="/%+,#>*%<:-#-%(:-L%+--/%.0=/A)-)%
"$%"0%"A).-0=-6%O:-%+,#>%,+%-b'#-$$.,0*%<:-#-%)"0=-*%>A$.=%"0)%(:-%'-#+,#>-#$_%'-#$,0"/%
$(,#.-$%->-#1-*%=#-"(-$%"%'#-$-0=-%"0)%"%+"$=.0"(.,0%(:"(%(:-L%"''#-=."(-6%O:-%=,0=/A$.,0%.$%
(:"(%(:-L%"//%1-(%"%$,#(%,+%"-$(:-(.=%-b'-#.-0=-*%8"$-)%,0%8,(:%5-<-L%"0)%Q.$=:-#@!.$:(-_$%
)-+.0.(.,0$*%8A(%.(%.$%A0=-#(".0%<:-(:-#%(:-%-b'-#.-0=-%<,A/)%:"2-%8--0%(:-%$">-%.+%(:-L%:")%
0,(%8--0%"$7-)%(,%#-+/-=(%,0%.(6%
%
!
!
!
!
!
!
!
!
!
!
!
!
%
%
%
%
%
%
C-L<,#)$9%5"0=-*%L,A(:*%O:-%cA/(A#"/%4A=7$"=7*%#-/"(.,0"/%"#(*%"-$(:-(.=%-b'-#.-0=-%
!H!
45(5(.%
5-(%(,7%>-1%0,-0%H#%+#"%J-1%8-1L0(-%H%(-07-%'H%-0%>"$(-#1#")%(./%J-1%(A#(-%H%:,''-%.%)-(6%5-(%
:"#%2I#(%-0%A(#,/.1%#-.$-6%G-)%+A//%J,88%$,>%)"0$-'-)"1,1%,1%)"0$-7A0$(0-#%2-)%$.)-0%"2%
$(A).-#%:"#%)-(%2I#(%$/.($,>*%>-0%1.2-0)-%'H%+/-#-%2.$%-00%J-1%0,-0$.00-%7A00-%)#B>>-%,>6%
CA00$7"'-0*%8-2.$$(:-(-0*%(L01)-0*%8-7J-0($7"'-#*%J"%2-00-#%+,#%/.2-(*%:"#%J-1%>B((%.%-(%>./JB%
$,>%:"#%.0$'.#-#(*%>,(.2-#(%,1%1.((%>-1%E$(B##-F%(#,%'H%2.7(.1:-(-0%"2%)-(%J-1%)#.2-#%>-)6%%
G"01-%+,#(J-0-#%-0%("77%+,#%"(%J-1%1#-.)-%H%1J-00,>+B#-%)-((-%>"$(-#$(A).-(6%QB#$(%2./%J-1%#-((-%
-0%("77%(./%7/"$$-0%>.0*%+B#$(-%7A//%2-)%>"$(-#%.%8"#0-7A/(A#%,1%7A0$('-)"1,1.77*%+,#%
.0$'.#"$J,0*%(.//.(*%,1%)-/.01%"2%7A00$7"'%,1%-#+"#.01-#6%R-1%:"#%8/.((%1/")%.%)-#-h%
M0%$'-$.-//%("77%(./%+"#%E$(-+"#F*%$,>%,''>A0(#-(%>-1%,1%1"2%>-1%(#,%'H%"(%J-1%2"#%1,)%0,7*%
$,>%:J"/'%>-1%2-)%,''$("#(-0%"2%$(A).-(%,1%$,>%1"2%>-1%-0%-7$(#"%-0-#1.%E(./%(#,$$%+,#%$.0%
8,#(1"01%A0)-#2-.$F6%OA$-0%("77%$7"/%,1$H%#-$(-0%"2%+">./.-0%:"*%$,>%:"#%$(./(%,''%>-)%
8"#0-2"7(*%2"$7.01%"2%-(%(./%(.)-#%8,>8"%:A$%,1%>"01-%1,)-*%2"#>-%7/->>-#6%O"77%(./%G"10A$%
,1%M/.$-%+,#%:J-/'%>-)%7,##-7(A#/-$0.01*%,1%(./%'"''"%+,#%A("//.1-%A($7#.+(-#6%M0%("77%$7"/%,1$H%
#-((-$%(./%7,//-1"-#%,1%2-00-#*%+,#%,''>A0(#-0)-%,#)%,1%:BL-%:-."#,'%'H%2-.-06%
O"77%(./%"//-%>.0-%.0+,#>"0(-#%,1%3"0("%4-.%2-)%d00-%,1%3."*%,1%5CD@#H)1.2-#-*%A(-0%)-#-%
:"))-%.77-%,''1"2-0%8/.((%(./6%O"77h%
M0%"8$,/A((%("77%(./%>.0%)L7(.1-%,1%-#+"#0-%2-./-)-#*%!.$-%K,2.7*%$,>%:"#%/-)-(%>-1%(#L1(%
1J-00,>%,1%$,>%2.#7-/.1%:"#%>,(.2-#(%>-1%,1%1.((%>-1%(#,-0%'H%>-1%$-/26%O"77%+,#%"(%)A%:"#%
)-/(%"//%).0%7A00$7"'%,1%'A$:-(%>-1%(./%0L-%:BL)-#6%
O"77%(./%)"0$-0*%$,>%1.#%>-1%$H%>L-6%
D.$(*%>-0%.77-%>.0$(*%#-((-$%-0%$(,#%("77%(./%8"#0"%,1%(./%D(H/-%+,#%(H/>,).1:-(*%$(B((-*%"2/"$(0.01%
,1%>"$$-%7JI#/.1:-(*%0H#%)-(%:"#%$(H((%'H%$,>%2-#$(6%5-#-%-#%1A//h%
O#,0):-.>*%,7(,8-#%XiUj*%
C.0-%C2"#>-%OB##.01! %
!HG!
6##758.195(2$,#$81$%
!"##$%&'"()***************************************************************************************************************************************************)+! ,-./'"0/)********************************************************************************************************************************************************)+++! 12'2'&)************************************************************************************************************************************************************)3! 4"56//$7)89)+%%7$&%6%()*************************************************************************************************************************************)8!
!"#$%&'()*+,$-'./01#+22'31')3%(4/$532'63#'3**1/4&2'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'8!
!3#63#$%9&,$&-'*,/$$&#(21'31')9,'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777':!
;**1/4&2$'3**.<12(21'7777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'=!
>&1#&*$/40,/#(21&#'77777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'?! 5&#!*$+1$'&++&!(*/+&(&**&#!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!<! 9-,+21&1(3/'(1J&+(&'!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!K!
@/2%/'A&('B/2$&%&/%&#'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'C! D/0&')&'E/2F&B!3',!8'/(&((!12+!8'/%$*1!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!DC! D/0&')&'E/2F&B!02#!/88+&-&+(&!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!DL!
@#3.,&)$%(,,(21&2'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'8G!
>(E#/1'31'#&,&4/2$'7777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'8H!
@2%+2.&'&!'&+&-,#1!3/'(*#2#.!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!DF! I41#&2$2(21'77777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777':J! H2($,+2(&'2#.!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!CD! 4"56//$7):9);$2'$/6.<$)5$'.5$</6=$')***************************************************************************************************************)::! A&,/$532&,,'0+2$%'7777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'::! M&+,(4/#&++!*$#(1!A/(!N/$''2,$%!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!CL!
;&'3/'0,12-!&(1&12**!A/(!O2(PA&'QR2PA1&!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!CS! K2'&$%&%($0'/#(21'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777':L! T4)'&!/.!.4&##/0.J!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!LD!
"(1&12(*!&'3,'2#.!2!&1!*$#(18&%,./.2(*!8&'(8&*12-!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!LC! B/2$&%&/%&#%#/E($532&2'31'.&1#&*&%'$/)%(E$E/2$'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'M=! R,7,#!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!L<! 9$'1!U//((!/.!;2#,!N,$(PA!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!LK! 5,#(&1&,1&'!/.!(,012%(%,#(!3/'(1J11!2!%&##&!*/#1&*(1&#!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!LF! N21E3)$0+,%+#'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'=J! V#.%/0!/.!$1-2*+2#.(8(W*/+/.2!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!SD! V#.%/0(8,',%/*(&1!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!SC! XW&'&!3/'(*#2#.!2##&#!(1'&((!/.!8'&((!7+,#1!$#.%/0!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!SL! 4"56//$7)>9)?$/2&272(6)2()@2'.<%6%(.#$/2&$')**********************************************************************************************)AB! O4/,(%/%(4')&%3E&'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'=G!
!HGG!
K2'6&23)&23,31($0PQ&#)&2&+%($0'%(,2R#)(21'7777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'=H! Y&'0&#&$12**&#!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!SF! O&#/0&#/+/.2&#!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!S=!
!3#$02(21$)&%3E&#'('*#/0$($'77777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'?8! V1-,+.!,-!2#3/'0,#1&'!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!<D! T&#&'&'2#.!,-!%,1,0,1&'2,+&!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!<C! O/*$(.'$88&2#1&'-4$!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!<L! 5W7%&2#1&'-4$!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!<L! I2/,<$&)&%3E&S'T/##/%(4-'0/%&13#($&#(21'31'63#%3,02(21'777777777777777777777777777777777777777777777777777777777777777777777777777777777'?=! X,'',12-!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!<<! ZW(1&0,12(&'1!,#,+W(&!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!<<! K%($0&'4+#E&#(21&#'31'*#3.,&)$%(,,(21&#'77777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'?G! G#3/'0,#1&#(!8&'(/#-&'#!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!<K! O/'(*&'&#(!*'212(*&!7+2**!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!<K!
;**$+))&#(21S'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'?L! 4"56//$7)A9),%"7C.$)***************************************************************************************************************************************)BD! T/##/%(4&2&'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'GJ! T'$88&#!3',!(1$%2&(8&(2,+2(&'&#%&!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!K>! T'$88&#!3',!%,#(&+2#4,!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!KL! K0$&)*,&#'*9'/#.&(E$)&%3E&'31'4(E&#&'$*($$(21'/4'63#$02(21$630+$'777777777777777777777777777777777777777777777777777777777777777'GG! V+2*&!*-,+21&1&'!2!3/'&(12++2#.&#!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII!K[! 4"56//$7)E9)12'/27<%6%()"=)&"/"#"/$'6"7$/)*****************************************************************************************************)BF! B#/)/%+#1($0'63#)'7777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'GL! U&02(00-'03#&31#/6('31'.&4&1&,$&$$*#90'77777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'HJ! U&)/%(00'31')&2(21$$0/*(21'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'H:! K$%&%($0'/#(21'77777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'H=!
;**$+))&#(21'7777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'H?! 4"56//$7)B9);$2'$/6.<)&'G@/6%()************************************************************************************************************************)HH! A&,/$532&,,'0+2$%'7777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'HH! K2'&$%&%($0'/#(21'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'HC! K%'/,,)&2%'+%%#<00'63#'/#(21&2-'&%'0#(%($0'.,(00'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'C:! 4"56//$7)H9)42%<7I.J2%)2()=$6$%)=6&$'$)**********************************************************************************************************)KE! D&2(21$$0/*(21-'&%'4(0%(1'&,&)&2%V'77777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'C?! O+2$%'31'*&E/131(00-'&2'$(E&'/4'$/))&'$/0V'7777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'CG! D(2&'2<&'63#$%9&,$&#'77777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'CC!
;**$+))&#(21-'Q4/'/#&#'+21E3))&2&'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'CL! I4$,+%%&2E&'3#E'777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777'LJ!
!HGGG!
L=$'.6</)2=$')-67&$'M)@6(I'$')2()/"-$77$')********************************************************************************************************)F8! N$@$'"%.$')***************************************************************************************************************************************************)F:! 3$&7$(()********************************************************************************************************************************************************)FB!
!
S%>.0%>"$(-#,''1"2-%.%8"#0-7A/(A#%,1%7A0$('-)"1,1.77%:"#%J-1%+,7A$-#(%,1%#-((-(%8/.77-(%>.((%
>,(%A01),>%,1%)-#-$%>B(-%>-)%)"0$-7A0$(%1J-00,>%5-0%7A/(A#-//-%$7,/-$-77-06%K2"%$7J-#%
0H#%7A0$(-0%7,>>-#%\(-((]%'HN%R-1%B0$7-#%H%A0)-#$B7-%8-1#-'-(%+$,"-./($,,%#0(-1%,1%$-%)-(%
,''%>,(%-0%$H7"/(%$-1$12-#%$+3"+2(4*%8H)-%>-)%("07-%'H%:2"%)-(%-#%,1%:2"%)-(%-2-0(A-/(%1JB#6%
5-((-%,''$A>>-#-#%7,#(%>.0%+,#$70.01%,1%)-0%2.)-#-%,''1"2-(-7$(-06%
4+(12$%"):=81>%0'?,(=##%5,%)52"&'1@5#%95(%5::,'&$#%%
&''1"2-0$%+B#$(-%.>'A/$%$("#(-(%.%-0%A0)#.01%#A0)(%5-0%7A/(A#-//-%$7,/-$-77-0%E5CDF*%)-#-$%
>"0)"(%,1%A(2-/1-/$-$7#.(-#.-#%.00-0%)"0$-7A0$(6%5-((-%'H%1#A00%"2%>.((%2.#7-%$,>%
)"0$-7A0$(0-#*%>.((%B0$7-%,1%8-:,2%+,#%H%L(#-%0,-%(./%A01),>*%,1%+B/-/$-0%"2%"(%+/-#-%.%
+"1>./JB-(*%.07/A)-#(%>-1%$-/2*%:"))-%0,-%H%(./8L%>H/1#A''-0*%>-0%2-#7-0%8/-%$-((%-//-#%:B#(%
"2%5CD6%Q/-#-%)"0$-7A0$(0-#-%$,>%J-1%2"#%.%7,0("7(%>-)%$/-(%>-)%H%+H%7,0("7(%,1%)."/,1%>-)%
#H)1.2-#-%.%5CD%EO#B0)-/"1F*%,1%)-(%8/-%$0"77-(%.%>./JB-(%,>%:2,#%2"0$7-/.1%)-(%2"#%H%+H%
.00'"$$%.%$L$(->-(6%G-)%.00'"$$%>-0-$%.77-%"(%0H#%>"0%:"#%-0%+,(%.00-0+,#%$7"/%2I#-%$.7#-(%
J,88%.%$H%>H(-*%(2-#(%,>6%R-1%>-0-#%)-(%8B#%2I#-%-0%).$7A$J,0%,1%-0%.0(-#-$$-%+,#%7A0$(0-#-*%
A"2:-01.1%"2%,>%)-%:"#%-(%\0"20]%-//-#%.0$(.(A$J,0%8"7%$-1*%,1%$H%+H#%>"0%\)B>>-]%-//-#%
>H/-%72"/.(-(-0%-((-#%-0%)."/,1%#A0)(%)-(%7A0$(0-#.$7-%'#,$J-7(-(%,1;-//-#%-2-0(A-//%2.$0.016%
R-1*%>-)%+/-#-*%$H%"(%)-(%8/-%$">"#8-.)-(%>-)%/,7"/-%>A$.7-#-%E,1%'#,)A$-0(-#*%,1$H%.00")%.%
5CDF*%,1%(-07(-%"(%)-((-%7"0$7J-%2"#%"2%.0(-#-$$-%+,#%)"0$-+-/(-(%.%#-1.,0-0%,1$H%E.%"//-%+"//%.%
$(B##-%1#")%-00%)-(%8/-%'#"7(.$-#(%'H%)-(%"7(A-//-%(.)$'A07(-(%.%XiUkF6%R-1%$(./(-%$'B#$>H/%2-)%
:2,#+,#%)-(%)"%2"#%2"0$7-/.1%+,#%>"01-%/,7"/-%)"0$-7A0$(0-#-%.00-0%
J"gg;>,)-#0-;$">(.)$)"0$@$J"01-#-0%H%+H%-(%>B(-;)."/,1%-//-#%8"#-%-0%(./8"7->-/).01%'H%
$B70")-#%,1%'#,$J-7(-#6%C"0$7J-%2"#%)-(%$/.7%"(%).$$-%7A0$(0-#.$7-%'#,$J-7(-0-%.77-%2"#%1,)(%
0,7%72"/.+.$-#(-*%>-0%)"%)A77-(%)-(%/.7-2-/%,''%0L-%$'B#$>H/%$,>l%:2./7-%E7A0$(F$L0%/H%(./%
1#A00%+,#%).$$-%2"/1-0-l%:2./7-%>"7($(#A7(A#-#%:-#$7-(l%:2./7-%.0(-#-$$-#%#H)-(N%5-((-%:"0)/-#%
7"0$7J-%,>%-0%+,#2.##.01%-//-#%0,-%A7/"#%)-+.0.$J,0%'H%:2"%5CD%-#%,1%$7"/%2I#-*%,1%.77-%>.0$(%
+,#$7J-//.1-%'#"7$.$-#%#A0)(%,>7#.01%.%/"0)-(6%5-(%-#%0,7%,1$H%A-0.1:-(-#%#A0)(%,1%,>%:2,#2.)(%
7A0$(-0%.%5CD%$7"/%2I#-%(./'"$$-(%8"#0;$7,/-%-//-#%,>%)-(%$7"/%2I#-%\0H)-/B$]%7A0$(%+,#%
7A0$(-0%$.0%)-/6%[./%+,#%-7$->'-/%+"1+,/7%+#"%(-"(-#:A$-(%d2"0(%W"#)-0%2I#-%)-%#-((-%(./%H%
'/A77-%A(%$=-0-7A0$(%+,#%8"#0N%[.%>B(-#%+/-#-%.0(-#-$$-7,0+/.7(-#%:-#*%,1%)-(%-#%>-1-(%
2"0$7-/.1%$'B#$>H/*%$,>%:-//-#%.77-%0B)2-0).12.$%:"#%m0%+"$.(6%5.$$-%$'B#$>H/-0-%.0(-#-$$-#%
>-1%+,#($"((*%>-0%.%>B(-%>-)%+,#-$(.//.01-0%!"#$%&$%5"()$%$">>-0%A01),>>-0-%$7J-))-%
)-(%-0%2-0).016%R-1%,''/-2)-%A01),>>-0-%$,>%>-1-(%',$.(.2-%(./%+,#-$(.//.01$8-$B7-(*%,1%J-1%
!C!
8/-%0L$1J-##.1%'H%:2,#+,#%,1%:2"%$,>%1J,#)-%)-((-6%Q,7A$-(%+,#%,''1"2-0%8/-%-0)#-(%(./%
A01),>>-0-%$,>%+"7(.$7%-#+"#-#%,1%$7"/%-#+"#-%7A0$(-06%R-1%B0$7-(%>-)%)-00-%,''1"2-0%H%$-%
'H%:2"%$,>%1"%>-0.01%+,#%)-(%"7(A-//-%'A8/.7A>>-(*%:2"%$,>%7"0%8-(L%0,-%+,#%)->*%,1%
-2-0(A-/(%:2,#+,#%)-((-%-#%2.7(.16%R-1%2.//-%/B+(-%)-#-$%$(->>-6%%
45(95(12A$81$>%:8'11$("#,%5,%)A8%
R-1%6,2+%12,%.%>B(-%>-)%"0)#-6%D/.7%-#%J-1%"2%)-0%,''+"(0.01%"(%2.%/I#-#%1J-00,>%H%'#"7(.$-#-%,1%
1JB#-%>-)%7#,''-0%2H#*%2.%+B/-#%,1%$-#%1J-00,>%7#,''-0*%,1%)-#>-)%6,2+%.$4%12,%.%>B(-%>-)%
"0)#-6%M01-/$#A)%#-+-#-#%(./%G-#/-"A@3,0(L%$,>%.%$.0%+./,$,+.%8/"0(%"00-(%("#%A(1"01$'A07(%.%"(%
7#,''-0%+,#$(H#%,1%-#%+,#A($-(0.01-0%+,#%+,#$(H-/$-#%"2%8H)-%,>1.2-/$-#%,1%$-1%$-/26%\S%)-00-%
+,#$(H-/$-0%:"#%-//-#%-#%,1$H%>-00-$7-7#,''-0%-(%+,#:,/)%(./%$.0%,>2-#)-0]%EM01-/$#A)*%XiiV*%
$6%nZF6%5-((-%-#%>A$.77%.%>.0-%B#-#h%D,>%>-00-$7-(%.%)-((-%$">+A00-(%-#%J-1%,''("((%"2%
)->,7#"(.*%>-)>-00-$7-/.1:-(%,1%#-/"$J,0-#*%,1%.77-%>.0$(%>B(-%>-)%>-00-$7-#%,1%
0-$(-7JI#/.1:-(6%\S(%("7-$%"%2.//"1-%(,%#".$-%"%=:./)]%$.-#%-(%"+#.7"0$7%,#)("76%5-(%$"%>.0%$(-+"#%
(./%>-1%)"%>.0%)"((-#%7,>%(./%2-#)-06%&1%)-(%$.("(-(%:"#%2-/%"/)#.%2I#(%>-#%(#-++-0)-%+,#%>-1%,1%
>.0%+">./.-%)"l%2.%(#-01(-%"//%:J-/'-0%2.%7A00-%+H6%G-00-$7-#%+A01-#-#%>-$(%,'(.>"/(%.%$">$'.//%
,1%#-/"$J,0%(./%"0)#-*%$/.7%J-1%,''/-2-#%)-(6%D-/2%(#-01-#%J-1%.0$'.#"$J,0*%>,(.2"$J,0*%8.)#"1*%
>,($("0)%,1%)."/,1%+#"%,1%>-)%"0)#-%+,#%H%2I#-%)-0%8-$(-%J-1%7"0%2I#-*%.%>.((%/.26%R-1%:"#%(#,%
'H%-0%8-)#-%2-#)-0%1J-00,>%"(%2.%-#%>.0)#-%\,''.]%2H#(%-1-(%:,)-*%,1%>-#%.%2H#%7#,''*%
$">>-0%.%2-#)-06%3-#$,0/.1%$-#%J-1%$(,#%8-(L)0.01%.%H%7A00-%A((#L77-%$-1%1J-00,>%:-/-%
7#,''-0%,1%>-)%:-/-%2H#(%$"0$-%,1%+B/-/$-$2,7"8A/"#6%5-((-%-#%2.7(.1%+,#%>-1%H%7,>>A0.$-#-%
)-((-%A(*%$/.7%"(%)-00-%,''1"2-0%0-((,''%7"0%$-$%.%/L$%"2%>.0-%(.)/.1-#-%-#+"#.01-#*%>.0-%("07-#*%
>.0-%+A00*%>.0-%0L-%+,#$(H-/$-#*%,1%>.0-%#,//-#6%%
5"%J-1%1.77%'H%8"#0-@%,1%A01),>$7,/-0%2"#%J-1%-0%'A11-#6%R-1%'A11-(%,1%'A11-(%,1%'A11-(*%
"/(%+#"%1"01-("8-//-0*%(./%"//-%+L/7-0-%.%^,#1-l%)-(%2"#%+#"0$7-%1/,$-#%,1%).7("0"/L$-#6%R-1%2"#%
$7,/-+/.07*%>-0%-((-#:2-#(%+.77%J-1%>-#%,1%>-#%'#-$("$J,0$"01$(%,1%)-(%8/-%2"0$7-/.1-#-%,1%
2"0$7-/.1-#-%+,#%>-1%H%:A$7-%(.016%o%/-$-%8/-%(A01(6%R-1%>.$(-(%>L-%>,(.2"$J,0*%$-/2%,>%
/L$(-0%(./%H%1JB#-%)-(%8#"%'H%$7,/-0%"//(.)%2"#%)-#6%5"%J-1%8/-%UX%\(,7]%)"0$-0%>-1*%,1%("77%,1%
/,2%+,#%)-(6%5-(%2"#%$H%8-+#.-0)-*%,1%J-1%+.77%-0%>-$(#.01$+B/-/$-%$,>%2"#%8-)#-%-00%0,-%"00-(%
.%2-#)-06%R-1%$H%,''%(./%>.0-%)"0$-/I#-#-%,1%8H)-%)-%,1%>.0-%)"0$-1#A''-#*%8-(L))-%>L-%+,#%
>-16%R-1%8-1L0(-%'H%)"0$-/.0J"%2-)%O#,0):-.>%C"(-)#"/$7,/-%)"%J-1%2"#%Un%H#*%,1%(,7%
-((-#:2-#(%-0%7A0$(0-#.$7%A()"00-/$-*%8"=:-/,#%.%)"0$%,1%'-)"1,1.77%2-)%^,#1-$%
)"0$-:BL$7,/-*%$,>%)-0%:-(-#%.%)"16%5-(%2"#%.77-%8"#-%-0%\)"0$%'H%#,$-#]*%$-/2+B/1-/.1%.77-*%
/.2-(%7,>>-#%.%$>H%,1%$(,#-%),$-#*%,1%)-00-%(.)-0%>-//,>%UZ%,1%XY%H#%2"#%+,#%>-1%-0%8-#1%,1%
!L!
)"/8"0-*%>-)%8#"((-%:-01*%+"//%,1%,''@%,1%0-)(A#-#6%G-0*%)-(%H%/I#-%>-)%7#,''-0%1J-00,>%
$"0$-0-*%8H)-%.%+,#>%"2%(-70.$7%'#-$.$J,0*%1J-00,>%H%2I#-%7#-"(.2*%,1%.%)-(%:-/-%("((%H%+H%/,2%(./%
H%A((#L77-%>-1%>-)%7$,$%>-1*%)-(%2"#%-0%#-)0.01*%,1%-#%"//(.)%-0%A(#,/.1%+B/-/$-6%%
S%)-(%$(#-$$-0)-%,1%>H/$(L#(-%$">+A00-(%$,>%2.%/-2-#%.*%("#%J-1%>-1%$-/2%,+(-%.%H%2I#-%
8-7L>#-(*%+,#%+#->(.)-0*%)-(%>-)."/.$-#(-%,1%).1.("/-%$">+A00-(*%(-70,/,1.-0%E0,-%$,>%.77-%
(#-01-#%H%2I#-%A(-/A77-0)-%)H#/.1*%>-0%)-(%-#%-0%"00-0%).$7A$J,0F*%7/.>"-0)#.01-#*%
.0).2.)A"/.$>-0*%E,2-#F+,#8#A7-(%,$26%K2,#)"0%2./%2-#)-0%$-%A(%,>%b%"0("//%H#*%:2"%-#%.1J-0%(./%
)-%7,>>-0)-%1-0-#"$J,0-#N%R-1%7./)-$,#(-#-#*%7JB'-#%8#A7(*%'#B2-#%H%8-1#-0$-%7JB((%,1%
#-)A$-#-#%'/"$(8#A76%G-0*%J-1%7JB'-#%,1$H%.3:,0-*%+/L#%'H%+-#.-*%A00-#%>-1%-0%="''A==.0,%,1%
7"0%$(H%/-01-%.%)A$J-06%K2,#+,#%$7#.2-#%J-1%)-((-N%R,*%J-1%$7JB0(-%A0)-#%>"$(-#$(A).-(%"(%$,>%
$(A)-0(%2"#%)-(%>"01-%(.01%J-1%0H%>H((-%("%$(.//.01%(./%,1%'H%-(%-//-#%"00-(%2.$%$(H%(./%"0$2"#%+,#6%
R-1%>H%.00#B>>-%"(%J-1%:"#%2I#(%/.2#-))%+,#%H%1H%(./8"7-%(./%$7,/-8-07-0*%,1%,#)-(%"7")->."%
:"#%2I#(%8H)-%+#->>-)%,1%$7#->>-0)-6%R-1%:"#%2I#(%#-))%+,#%H%+-./-*%#-))%+,#%H%.77-%+,#$(H*%
#-))%+,#%H%("%2"/1%,1%#-))%+,#%,1%>H((-%\+"=-]%(.01*%8H)-%+"1/.1*%'#.2"(%,1%$">+A00$>-$$.1*%
"77A#"(%$/.7%'#-$("$J,0$"01$(-0%,1$H%7,>%(./%$L0-%"//-#-)-%2-)%8"#0-$7,/-06%5-(%7"0%J,%2I#-%
8-:"1-/.1%H%(-07-%"(%\J-1]%1JB#%.01-0%+,#$7J-//*%\/A77-]%BL0-0-%+,#%$">+A00$'#,8/->-#%,1%
8"#-%/"%(.01%1H%$.0%1"016%!.7-2-/%+B/(-%J-1%0H%+,#%H%8#-((-%,''%-#>-0-%,1%'#B2-%H%1JB#-%-0%
+,#$7J-//6%
d//-%>.0-%-#+"#.01-#%:"#%"/($H%$"((%$.0-%$',#%,1%+,#>-(%>-1%(./%)-0%J-1%-#%.%)"16%5-00-%
>"$(-#-0%:"#%2I#(%-0%#-.$-%.%H'-08"#.01-#*%:2,#%J-1%:"#%+,#$(H((%>L-%"2%>-1%$-/2*%:2->%J-1%-#*%
,1%:2->%J-1%2./%2I#-%+,#%"0)#-%J-1%>B(-#%'H%>.0%2-.6%5-(%:"0)/-#%,>%-0%8-2.$$(:-(%,1%
7A00$7"'%,>%:2,#%J-1%'/"$$-#-#%>-1%8H)-%$,>%>-00-$7-%,1%.%+-/(-(*%:2"%J-1%$L0$%-#%2.7(.1%,1%
:2"%J-1%7J-00-#%J-1%7"0%8.)#"%>-)%.%$">+A00-(6%R-1%:"#%+H((%-0%$(B##-%I#8B).1:-(%,2-0+,#%>.0-%
+"1@%,1%L#7-$#,//-#6%R-1%-#%8/.((%>-#%8-2.$$(%'H%>.((%7A00$7"'$$L0*%,1%2.7(.1:-(-0%"2%)-(%H%/I#-%
1J-00,>%7#,''%.%$">$'.//%>-)%"0)#-*%,1%.77-%>.0$(%:"#%)-((-%$(L#7-(%>.0%,''+"(0.01%"2%"(%
A01),>%(#-01-#%-$(-(.$7-%-#+"#.01-#6%S%L#7-$$">>-0:-01%J,88-#%J-1%.%2.)-#-1H-0)-%$7,/-*%2-)%
+/-#-%7A/(A#$7,/-#%,1%J-1%-#%A(B2-0)-%$,>%8H)-%)"0$-#%,1%7,#-,1#"+*%E.%)-00-%,''1"2-0%,1$H%
$,>%+,#$7-#%-//-#%A(+,#$7-#*%,>%>"0%2./F6%G-)%>.0%+,#$(H-/$-*%+,#+,#$(H-/$-%,1%(.)/.1-#-%
-#+"#.01-#*%E$,>%J-1%7"0%+.00-%0,-%'#,8/->"(.$7*%8H)-%$-((%+#"%-(%8"#0-7A/(A#-/(*%'-)"1,1.$7%,1%
7A0$(0-#.$7%'-#$'-7(.2F*%+.00-#%J-1%$(,#%>,(.2"$J,0%+,#*%,1%$-#%2.7(.1:-(-0%"2*%H%$7#.2-%)-00-%
>"$(-#-0%,>%A01),>>-0-$%-#+"#.01%>-)%)"0$%,1%+,#-$(.//.01-0%!"#$%&$%'"()$8%'H%$H%>"01-%
'/"06%
!S!
d/($H%:"#%)-((-%2I#(%.0(-#-$$"0(%+,#%>-1%$-((%8H)-%+#"%-(%7A0$(0-#.$7%,1%'-)"1,1.$7%'-#$'-7(.26%
R-1%B0$7-#%$,>%)"0$-7A0$(0-#*%,1%>-)>-00-$7-%.77-%>.0$(*%H%("%A01),>>-0-$%$(->>-%'H%
"/2,#*%>B(-%)->%'H%)-#-$%'#->.$$-#*%$">(.).1%$,>%J-1%A(2.)-#%,1%A(+,#)#-#%)-#-$%E7A0$(F$L0%,1%
+,#$(H-/$-#%"2%2-#)-06%&>%>"0%:"#%-(%$">+A00$"0$2"#%:-#%.%/.2-(%$H%2./%2-/%)-((-%
)"00.01$'-#$'-7(.2-(%2I#-%-0%)-/%"2%8H)-%7A0$(0-#%,1%'-)"1,1#,//-0*%,1%0-((,''%)-((-%-#%J,%
,1$H%$'-00-0)-%>-)%("07-%'H%).$7A#$-0%,>%:2"%7A0$(%-#%,1%:2,#%1#-0$-0%>-//,>%7A0$(%,1%
'-)"1,1.77%1H#6%S%(.//-11%(./%5CD%$.((%>"0)"(%,1%:2,#2.)(%A01),>>-0$%$(->>-%$7"/%("$%
:-0$L0%(./6%R-1%B0$7-#%"/($H%H%+,#$(H%A01),>>-0-%8-)#-*%+,#%H%7A00-%>B(-%)->%,1%A(+,#)#-%
)->%.%"//-%>.0-%',$.$J,0-#%.%+-/(-(6%
B::,'&$#1%5::0C,#"#,%
&''1"2-0%8-$(H#%"2%$JA%7"'.(/-#6%C"'.((-/%U%$(H#%$,>%.00/-)0.016%K-#%'#-$-0(-#-#%J-1%>.0%
>,(.2"$J,0%+,#%,''1"2-0*%>.0%+,#+,#$(H-/$-*%8"71#A00%,1%>H/6%S%(.//-11%-#%)-(%
8-1#-'$"27/"#.01-#%70L((-(%(./%-0%,#.-0(-#.01%,>%5CD*%72"/.(-($+,#$(H-/$-#%,1%-0%'#-$-0("$J,0%
"2%3"0("%4-.%5"0$-(-"(-#%,1%+,#-$(.//.01-0%!"#$%&$%'"()$6%3#,8/->$(.//.01-0%,1%
+,#$70.01$$'B#$>H/%/-11-$%$H%+#->*%+B#%J-1%'#-$-0(-#-#%"00-0%#-/-2"0(%+,#$70.01%.%$">>-%+-/(%
,1%).$7A(-#-#%>.((%8.)#"16%G,(%$/A((-0%/-11-#%J-1%2-)%-0%-1-0%2.$A"/.$-#.01%"2%,''1"2-0*%:2,#%
0B77-/,#)%-#%+,#>.)/-(6%D,>%-0%:-#>-0-A(.$7%$'.#"/*%-#%,''1"2-0%8L1)%,''%'H%+,#+,#$(H-/$-*%
(,/70.01*%0L%+,#$(H-/$-*%+#->%,1%(./8"7-*%(./8"7-%,1%+#->*%>,(%)-0%+-#).1$(./(-%(-7$(-06%
S%7"'.((-/%X%'#-$-0(-#-$%>.0-%(-,#-(.$7-%2"/1%,1%+,#"07#.01%+,#%,''1"2-06%C"'.(/-(%-#%)-/(%.00%.%
+.#-%)-/-#%:2,#%(-,#.-#%#A0)(%#-/"$J,0-//%7A0$(*%-0%-$(-(.$7%-#+"#.01*%)"0$-(-"(-#$J"01-#-0%,1%
8-1#-'-(%$">(.)$)"0$*%,1%(./%$/A((%A01),>$7A/(A#*%8/.#%#-)-1J,#(%+,#6%5-%(#-%+B#$(-%)-/-0-%
8L11-#%,''%A0)-#%)-0%7A0$('-)"1,1.$7-%).$7A#$-0*%>-0%)-0%$.$(-%)-/-0%1H#%>-#%A0)-#%)-0%
'-)"1,1.$7-%).$7A#$-06%
C"'.((-/%Y%8-$7#.2-#%>.((%>-(,),/,1.$7-%$(H$(-)*%$,>%-#%:-#>-0-A(.$7@+-0,>-0,/,1.$7*%,1%
2.)-#-%>.0-%+,#$70.01$>-(,)-#%.%'#"7$.$6%R-1%:"#%+,#-("((%72"/.("(.2-%+,#$70.01$.0(-#2JA*%$,>%
J-1%$-0-#-%"0"/L$-#-#%>-)%:J-/'%"2%0"##"(.2@"0"/L$-%,1%$L$(->"(.$7%"0"/L$-6%d2$/A(0.01$2.$%.%
)-((-%7"'.(-/-(%1H#%J-1%.00%'H%-(.$7-%'#,8/->$(.//.01-#%,1%2A#)-#.01-#6%%
d0"/L$-0%7,>>-#%.%7"'.((-/%Z6%K-#%2.$-#%J-1%:2,#)"0%J-1%.%>.((%"#8-.)%8-"#8-.)-#%,1%J,88-#%
>-)%->'.#.-0%,1%)"(">"(-#."/-(%+,#%2.)-#-%"0"/L$-6%^"##"(.2-#%+#"%+,7A$1#A''-.0(-#2JA-0-%
1J,#(%>-)%A01),>>-0-%8/.#%.00/-)0.01$2.$%'#-$-0(-#(6%[.)-#-%2.$-#%J-1%(./%2.)-#-%$'.$$.01%"2%
!<!
+,#$70.01$+,7A$%,1%72"/.(-(-#%$,>%J-1%,''/-2-#%$,>%$(-#7-%,1%2-#).+A//-%+,#%
A01),>$1#A''-0-6%
C"'.((-/%n%8-$(H#%"2%>.0%+,#(,/70.01%"2%)-%A/.7-%72"/.(-(-0-%:2,#%J-1%$-#%)-((-%,''%>,(%2"/1(-%
(-,#-(.$7-%'-#$'-7(.2-#%,1%3"0("%4-.$%7A0$(0-#.$7-%2.#7->.)/-#%.%+,#-$(.//.01-0%!"#$%&$%
'"()$*%K-#%$2"#-#%J-1%'H%>.0-%+,#$70.01$$'B#$>H/6%
S%7"'.((-/%V%/B+(-#%J-1%'-#$'-7(.2-(%L((-#/.1-#-%,1%)#B+(-#%A01),>>-0-$%-#+"#.01%.%/L$%"2%
8-1#-'-0-%#-/"$J,0-//%7A0$(%,1%-0%-$(-(.$7%-#+"#.016%
C"'.((-/%p%8-$(H#%"2%0,-0%"2$/A((-0)-%("07-#%"2%>-1%$,>%+,#$7-#*%,''$A>>-#.01*%7,07/A$J,0%
,1%2-.-0%2.)-#-6%
D$,($:1'&?8'("#,$(%
E$#%?=82=($88$%1?58$1$??$#%
5-0%7A/(A#-//-%$7,/-$-77-0D%$7"/%8.)#"%(./%"(%"//-%$7,/--/-2-#%.%^,#1-%$7"/%+H%>B(-%A/.7-*%
'#,+-$J,0-//-%7A0$(%,1%7A/(A#A((#L776%5-0%:"#%$.)-0%XiiU%2I#(%-0%0"$J,0"/%7A/(A#',/.(.$7%
$"($0.01%+,#%1#A00$7,/-0%EU6%(./%Ui6%(#.00F*%$,>%-((-#:2-#(%,1$H%:"#%8/.((%A(2.)-(%(./%
2.)-#-1H-0)--/-2-#6%
^,-0%"2%>H/-0-%+,#%5CD%-#%"(%)-(%$7"/%/-11-$%(./%#-((-%+,#%"(%-/-2-#%+H#%-#+"#-*%8/.%7J-0(%>-)*%,1%
A(2.7/-%+,#$(H-/$-%+,#%7A0$(6%S%(.//-11%:"#%5CD%>H/%,>%\H%A(2.7/-%-0%:-/:-(/.1%.07/A)-#.01%"2%
7A0$(0-#.$7-%,1%7A/(A#-//-%A((#L77%.%#-"/.$-#.01%"2%$7,/-0$%/I#.01$>H/]%E5-(%7,01-/-1-%7A/(A#@%
7L#7J-)-'"#(->-0(*%XiipF6%
S%D(,#(.01$>-/).01%0#6%k*%90,10+$,,%-#/,$-$##%3/+%3+"&12'"*%-#%,1$H%-(%"2%>"01-%>H/%,1%
'#.0$.''-#%+,#%5CD%+,#>A/-#(%$/.79%\M/-2-#%$7"/%+H%>B(-%'#,+-$J,0-//-%7A0$(%,1%7A/(A#(./8A)%"2%
:BL%7A0$(0-#.$7%72"/.(-(]6%5-((-%>H/-(%:"#%2.)-#-%$(H((%$,>%-0%$/"1$%/-)-(#H)%+,#%>-1%.%>.0%
2.)-#-%+,#$70.01%#A0)(%)"0$%,1%A01),>6%Q,#%:2"%-#%72"/.(-(N%%
C#.(-#.-0-%+,#%7A0$(-0%,1%A(2"/1-(%$,>%8/.#%("((%>-)%.%'#,1#">>-(*%7"0%8/.%'#"7(.$-#(%'H%
+,#$7J-//.1-%>H(-#%,2-#%:-/-%/"0)-(6%4H)1.2-#-%:"#%>A/.1:-(%+,#%H%8-0L((-%$-1%"2%)-0%,>("/(-%
)"0$7-%>,)-//-09%q0$7-72.$(>,)-//-0X6%5-((-%7"0%:J-/'-%)->%(./%H%:-01-%8-1#-'-(%,>%72"/.(-(%
!
D!A118(E\\]]]I%&#*$+1$'&++&(*/+&(&**&#I#/\!
C!A118E\\]]]I8'/%$*(4/#(A,#%7/*,I#/\,'12*+&'\C>D<\D>\D<\#(*&*-2(10/%&++&#Q&1Q(,00&#%',.!
!K!
'H%)-%#.7(.1-%70"11-0-%.%-0%).$7A$J,0%#A0)(%'-#+,#>"(.2%7A0$(6%R-1%,''/-2-#%,1%+,#$(H#%+#"%
>.0-%.0(-#2JA%>-)%(,%+,#$7J-//.1-%#H)1.2-#-%"(%)-(%-#%)-/(-%>-0.01-#%,>%:2"%5CD%$.((%
:,2-)+,7A$%$7"/%2I#-%(./%-0:2-#%(.)6%S%(.//-11%+.0$%)-(%.01-0%+"$(-%-//-#%-("8/-#(-%#A(.0-#%'H%
:2,#)"0%)-%-2"/A-#-#%(A#0--0-%.%-((-#7"0(6%
!&'8"2$2195(12A$81$(%
C0A(%&2-%M/."$$-0%$.-#%.%$.0%.00/-)0.01%.%8,7"%9:",21$1-3/+-1;$,-$+%"(%)-%+/-$(-%$-((-#%'#.$%'H%
72"/.(-(6%\G-0%:2"%-#%72"/.(-(N]*%$'B#%:"0%2.)-#-%EM/."$$-0%r%3#L(g*%XiUV*%$6%pF6%o%1.%-(%1,)(%
$2"#%'H%)-((-%7"0%2I#-%2"0$7-/.1*%$'-$.-/(%.%7A0$(@%,1%7A/(A#+-/(-(6%M#%72"/.(-(%)-(%$">>-%+,#%
7A0$(0-#-0*%$,>%+,#%-/-2-0*%,1%)-(%$">>-%+,#%/I#-#-0*%$,>%+,#%#H)1.2-#-0%.%5CD*%.%)-00-%
$">>-0:-01-0N%5-(%+.00-$%$-/2+B/1-/.1%0,-0%"//>-001L/).1-%+,#$(H-/$-#%"2%8-1#-'-(%.%)-00-%
7,0(-7$(-0*%>-0%+"#-0%-#%,+(-%(./%$(-)-%+,#%"(%)-(%,1$H%-#%,1%8/.#%$2I#(%$A8J-7(.2(*%0,-%"00-(%-#%
2-/%AA001H-/.1N%d/($H%7"0%)-(%8/.%2"0$7-/.1%,1%'#,8/->"(.$7%H%$-%)-((-%8-1#-'-(%$,>%-0(L).1%
EM/."$$-0%r%3#L(g*%XiUV*%$6%pF6%[.%>B(-#%0-''-%7A0$(-0*%-//-#%2-#)-0%+,#%)-0%$"7$%$7L/)*%/.7(6%
[.%:"#%.77-%"//-%)-%$">>-%#-+-#"0$-0-6%K2->%$.0%>-0.01%8/.#%)"%)-0%1L/).1-N%CA0$(0-#-0E-F*%
5CD@#H)1.2-#-0%>-)%$.0%8"71#A00*%-//-#%A01),>>-0-*%$,>%.%)-((-%(./+-//-%-#%>H/1#A''-0%J-1%
$.7(-#%>,(N%M#%)-(%$/.7%"(%)-0%>-)%:BL-$(%7A0$(0-#.$7%7,>'-("0$-%2-(%8-$(N%D">(.).1%>-)%"(%
)-(%"//(.)%2./%+.00-$%-0%7,07A##-#-0)-%+,#$(H-/$-%"2%:2"%72"/.(-(%-#*%$7#.2-#%M/."$$-0%EXiUVF%.%$.0%
.00/-)0.01%"2%9:",21$1-3/+-1;$,-$+8%"(%$,$.,/,1.-0%/-01-%:"#%),7A>-0(-#(%>-)%"(%$>"7-0%.77-%
6"+$%-#%.0).2.)A-//*%>-0%,1$H%->.0-0(%$,$."/6%[.)-#-%$(H#%)-(%"(%$>"7%2./%$.%0,-%,>%)-(%>"0%
+,#-(#-77-#%.%+,#:,/)%(./%0,-*%-0%$("0)"#)*%,1%"(%)-((-%.1J-0%2./%$-((-%-(%2-#).1#A00/"16%D/.7%7"0%
)-((-%)#B+(-$%'H%(,%0.2H-#9%5-0%$A8J-7(.2-%),>>-0%.%+,#:,/)%(./%$("0)"#)-0*%,1%:2,#)"0%
$("0)"#)%-#%)-77-0)-%(./%+,#>H/-(%-//-#%#.7(.1%.%$">>-0:-01-06%D,>%>L-%"00-(%.%)-00-%
,''1"2-0*%7A00-%J-1%,1$H%"2%8-1#-'-(%72"/.(-(%$7#-2-(%-0%:-/%>"$(-#,''1"2-6%R-1%>H%
0"(A#/.12.$%"21#-0$-%,1%2-/1-#%A(%0,-0%+,#$(H-/$-#%#A0)(%8-1#-'-(%$,>%J-1%,''/-2-#%$,>%2.7(.1%
+,#%H%+,#$(H*%+#->>-%,1%.07/A)-#-%A01),>>-0-$%$(->>-6%%
S%)-(%0,#$7-%/-7$.7,0%$(H#%)-(%+B/1-0)-%\C2"/.(-(%-#%(.01$%>H(-%,1%2I#-%'H*%(.01-0$%
8-$7"++-0:-(6%^H#%,#)-#%72"/.(-(%8#A7-$%,>%$"0$-.00(#L77*%8-(L#%)-(%$'-$.+.77%7"#"7(-#6%Q,#%-0%
1J-0$("0)%-//-#%(J-0-$(-%7"0%>"0%$.%"(%72"/.(-(%-#%-20-0%(./%H%(./+#-)$$(.//-%8#A7-#-0$%7#"2%,1%
+,#2-0(0.01-#]%EWA0)-#$-0%r%K"/8,*%XiUkF6%
5-(%+.00-$%.77-%m0%$("0)"#)%'H%7A0$(*%)-#+,#%2./%J-1%,1$H%'H$(H%"(%)-(%-#%2"0$7-/.1%H%)B>>-%
7A0$(%A(%+#"%-(%-0(L).1%72"/.(-($8-1#-'6%O./%$">>-0/.10.01%-#%)-(%.%+,#%-7$->'-/%$2I#(%-07-/(%.%
>"#7-)$(-070.016%G"0%:"#%-0%-//-#%+/-#-%1J-0$("0)-#%-//-#%,8J-7(-#*%$.%-(%>B8-/%+#"%S7-"%$,>%-#%
!F!
-(%-7$->'-/%)-(%8/.#%2.$(%(./%:,$%M/."$$-0%EM/."$$-0%r%3#L(g*%XiUV*%$6%jF6%S00-0+,#%-0%2.$$%
$("0)"#)%+A01-#-#%>B8-/-(%$H%,1%$H%8#"%.%+,#:,/)%(./%0,-%"00-(6%C2"/.(-($8-1#-'-(%$(H#%.%#-/"$J,0%
(./%0,-*%,1%>H/-(%-#%H%/"1-%$H%>"01-%/.7-%'#,)A7(-#%$,>%>A/.1*%)-#%"22.7-0-%/"#%$-1%>H/-6%D/.7%
-#%.77-%7A0$(-0%"//(.)%>H/8"#6%K2-#(%-07-/(%7A0$(2-#7%-#%A0.7(%,1%7"0%.77-%/"%$-1%-#$("((-%"2%-(%
"00-(6%
M$(-(.$7%72"/.(-(%A(>-#7-#%$-1%7,02-0$J,0-/(%0-((,''%2-)%"(%)-0%.77-%/"#%$-1%72"0(.+.$-#-%-((-#$,>%)-(%
-07-/(-%7A0$(2-#7-(%-#%-0-$(H-0)-%,1%.77-%/"#%$-1%-#$("((-%"2%-(%"00-(6%CA0$(-0$%72"/.(-(%7"0%:-//-#%.77-%
+,#A(8-$(->>-$*%)-0%,''$(H#%.77-%$,>%+B/1-%"2%$("0)"#).$-#(-%(./2.#70.01$'#,$-$$-#6%EM/."$$-0%r%3#L(g*%
XiUV*%$6%UiF%
3H%)-0%"0)#-%$.)-0%>-0-#%0,-0%"2%)-(%-#%>A/.1%H%/"1-%0,-0%'"#">-(-#-%+,#%>H/.01%"2%0-((,''%
)-0%7A0$(0-#.$7-%72"/.(-(-06%S%8,7-0%9:",21$1-3/+-1;$,-$+8%'#-$-0(-#-$%A/.7-%"#(.7/-#%:2,#%)-(%.%
:,2-)$"7%B0$7-$%H%$L0/.11JB#-%)-%2-#).-0-%$,>%/.11-#%.>'/.$.((%.%-(:2-#(%72"/.(-($$L0%,1%:-//-#%
J,88-%+,#%H%+#->>-%$'B#$>H/-(9%\666f:2"%$/"1$%72"/.(-(Nf%+#->+,#%f:2"%-#%72"/.(-(Nf]%EM/."$$-0%
r%3#L(g*%XiUV*%$6%jF6%
M/."$$-0%EXiUVF%7,0$("(-#-#%.%$.0%.00/-)0.01%"(%72"/.(-($8-1#-'-(%-#%$7.+(-0)-%"2:-01.1%"2%
7,0(-7$(-0*%,1%"(%-(%$-((%>-)%.>'/.$.((-%-//-#%-7$'/.$.((-%>H/-$(,77-#%A(1JB#%-0%$/"1$%2-#).%$,>%
72"/.(-(-0$%-1-0$7"'%8/.#%>H/(%A(%.+#"6%D7"/%-0%),>>-#%)B>>-%-0%.0(-#0"$J,0"/%
>A$.77,07A##"0$-%2./%)-(%.77-%7A0%1JB#-$%A(%+#"%-1-0%$>"76%5-(%>H%"#1A>-0(-#-$%A(%+#"%
7#.(-#(-#%$,>%-#%"//>-0(%"7$-'(-#(-6%
S%7A/(A#',/.(.$7%$">>-0:-01%$(H#%,1$H%72"/.(-($8-1#-'-(%$-0(#"/(6%D-/2%,>%)-(%8/.#%8#A7(%>L-*%
:"#%)-(%:-//-#%.77-%:-#%+H((%0,-0%8-1#-'$"27/"#.016%S%^&T@-0Y%E^,#1-$%,++-0(/.1-%A(#-)0.01-#F%
90,10+01+$'(2(4$(%<=>?8%-((-#/L$-$%+,#($"((%>-#%7A00$7"'%,>%72"/.(-(*%72"/.(-($8-1#-'-(%,1%
A/.7-%+,#>-#%+,#%72"/.(-($2A#)-#.01-#6%%O:,#./)%e.)2-L*%)"2I#-0)-%7A/(A#>.0.$(-#*%L(#-(%
+B/1-0)-*%A0)-#%7A/(A##H)-($%H#$7,0+-#"0$-%.%XiUY9%\C2"/.(-(%-#%.77-%-(%8-1#-'%$,>%7"0%
)-+.0-#-$%"2%m0%-07-/(%1#A''-6%5-(%$7"/%:-//-#%.77-%)-+.0-#-$%$-0(#"/(6%5-(%>H%)-#.>,(%2I#-%
#-$A/("(-(%"2%-0%/B'-0)-%>-0.01$A(2-7$/.01%$,>%$("#(-#%A(-%:2,#%"7(.2.(-(-0%+,#1H#]%EO:,#./)%
e.)2-L%.%M/."$$-0%r%3#L(g*%XiUV*%$6%UZF6%G-)%"0)#-%,#)%$.-#%:A0%%"(%72"/.(-($8-1#-'-(%>H%2I#-%
\666%1J-0$("0)%+,#%+,#:"0)/.01-#*%)-(%2./%$.%7,0(-7$(*%+,#>H/%,1%.0(-#-$$-#]%EM/."$$-0%r%3#L(g*%
XiUV*%$6%UZF6%
!
L!A118(E\\]]]I'&.4&'2#.&#I#/\#/\%/*$0\#/$Q,'\2%DFKF\!
![!
C2"/.(-($8-1#-'-(%:"#%,1$H*%.%/.7:-(%>-)%,1%'"#"//-/(%>-)%$">+A00-(%,1%7A0$(-0*%8/.((%
A(+,#)#-(*%,>).$7A(-#(%,1%A(2.7/-(%.%+,#:,/)%(./%(.)-0%>"0%/-2-#%.%,1%:2./7-%).$7A#$-#%$,>%-#%.%
,>/B'6%S00-0+,#%A()"00.01$$-7(,#-0%8/-*%,1%8/.#%+,#($"((*%8-1#-'-(%8#A7(%1J-00,>%-("8/-#(-%
>H/$L$(->-#%$,>%7"#"7(-#-#%,1%"0)#-%2A#)-#.01$+,#>-#*%$7#.2-#%M/."$$-0%EXiUVF6%S1J-0%'-7-$%
)-(%:-#%>,(%-0%$("0)"#).$-#.016%
DH*%:2"%-#%72"/.(-(%+,#%A01),>>-0-@%,1%7"0%)-%$.-$%H%:"%\1,)]%$>"7N%S00-0+,#%>.0%->'.#.%2./%
J-1%$,>%(.)/.1-#-%$7#-2-(*%J,88-%>,(%H%/B+(-%)-#-$%$(->>-6%d2$/A(0.01$2.$%$.-#%,1$H%M/."$$-0%.%
$.0%.00/-)0.01%"(%',-01-(%>-)%H%$'B##-%:2"%72"/.(-(%8B#%.%$(B##-%1#")%,>:"0)/-%-0%).$7A$J,0%
,>%.%:2./7-0%1#")%$'B#$>H/-(%-#%>-0.01$+A//(%.%)-00-%7,0(-7$(-0*%,1%,>%\72"/.(-(]%-#%)-0%#-((-%
>H/-$(,77-0%.%2A#)-#.01%"2%7A0$(%EM/."$$-0%XiUV*%$6%XXF6%
F'#2'%G$"%E'#1$2$'2$(%
S%,''$("#(%,1%'/"0/-11.01%"2%>"$(-#-0%>H((-%J-1%+.00-%"7(A-//-%)"0$-+,#-$(.//.01-#%$,>%$7A//-%
(A#0-#-%.%5CD%.00-0+,#%-0%8-$(->(%(.)$'-#.,)-*%.%(.//-11%(./%-(%A(2"/1%A01),>%$,>%$"%$-1%2.//.1%
(./%H%8/.%>-)%.%A0)-#$B7-/$-06%d2%'#"7(.$7-%H#$"7-#%2"/1(-%J-1%H%1JB#-%A0)-#$B7-/$-0%'H%)-0%-0-%
$7,/-0%J-1%J,88-#6%5-#%2"#%)-(%m0%)"0$-+,#-$(.//.01%$,>%$(,)%'H%'#,1#">>-(%:B$(-0%XiUk*%)-((-%
2"#%!"#$%&$%'"()$*%"2%3"0("%4-.%5"0$-(-"(-#6%S%'#,1#">>-(%'#-$-0(-#-$%)-0%$/.79%
G"7-%G-%5"0=-%-#%-0%7,#-,1#"+-#(%7,0$-#(6%WJ-00,>%8-2-1-/$-*%/L)%,1%(-7$(%+,#(-//-#%(#-%)"0$-#-%,1%m0%
>A$.7-#%:2,#+,#%)-%:"#%-0)(%,''%$,>%'#,+-$J,0-//-%7A0$(0-#-6%P-2-1-/$-$>"(-#."/-(%,1%(-7$(-0-%-#%-(%
#-$A/("(%"2%).$7A$J,0-#%>-//,>%A(B2-#0-%,1%)-(%7#-"(.2-%(-">-(6%5.$7A$J,0-0-%-#%8"$-#(%'H%:.$(,#.-#%
+"#1-(%"2%:2,#)"0%)-(%:-/-%$("#(-(*%,1%:2,#)"0%B0$7-(%,>%H%)"0$-%8/-%0B77-/-0%(./%+#->(.)-0%,1%7./)-0%(./%
A(+,#)#.01-#%,1%$A7$-$$6%E\5-0%7A/(A#-//-%$7,/-$-77-0%O#B0)-/"1]*%XiUkF6%
R-1%2./%2.)-#-%'#-$-0(-#-%3"0("%4-.%5"0$-(-"(-#%,1%)-#-$%)"0$-+,#-$(.//.019%!"#$%&$%'"()$8%
$,>%'H%)"2I#-0)-%(.)$'A07(%(A#0-#(-%.%5CD%,1%$,>%A01),>>-#%.%)-00-%A0)-#$B7-/$-0%+.77%
,2-#2I#-6%5-#-((-#%'#-$-0(-#-$%-(%0"##"(.2%+#"%:-0)-/$-0%$,>%$7./)#-#%>L-%"2%>.0%-1-0%
,''/-2-/$-*%$,>%,1$H%2"#%8"71#A00-0%+,#%-0)#.01%"2%+,7A$%.%,''1"2-06%
%
!=!
%
Q,(,%"2%^.-/%^.$8-(%
3"0("%4-.%)"0$-(-"(-#%8/-%,''#-((-(%"2%d00-%K,/=7%M7-0-$%)"%:A0%8,))-%.%M01/"0)*%:2,#%:A0%
,1$H%:"#%$.0%A()"00-/$-%+#"6%KA0%-#%.%)"1%7A0$(0-#.$7%/-)-#%,1%)#.2-#%7,>'"0.-(%$">>-0%>-)%
3."%K,/)-0%$,>%-#%)"1/.1%/-)-#6%5-#-$%8"71#A00%:"#%.%$(,#%1#")%'H2.#7-(%)-#-$%2.#7-%$,>%
7A0$(0-#-%.%^,#1-6%K,/=7%M7-0-$%-#%A()"00-(%+#"%M01/"0)%,1%!"8"0%(#.0.(L%=,0$-#2"(,.#-%,+%
>A$.=%"0)%)"0=-Z*%>-)%8H)-%8"=:-/,#%.%)"0$%,1%>"$(-#%.%7,#-,1#"+.6%K-#%$(A)-#(-%:A0%,1%
J,88-(%$,>%A(B2-0)-%)"0$-#%.%$L2%H#*%+B#%:A0%+/L((-(%:J->%(./%^,#1-6%3."%:"#%$.0%A()"00-/$-%
:-0:,/)$2.$%+#"%D(,=7:,/>%,1%^-<%s,#76%S01-0%"2%)->%.00-:"#%-0%+,#>-//%'-)"1,1.$7%
A()"00.016%T0)-#%$.0%A()"00.01%,1%2.)-#-%.%$.0-%"#8-.)%2"#%)-%8-11-%8H)-%1,)(%2"0(%>-)*%,1%
,'')#"((%.*%H%(-07-%+,#8.%$=-0-7"0(-06%@/&&0(21A%"+1%E)"0=-F*%:2,#%8H)-%7A0$(-0*%
'-)"1,1.77-0%,1%$,$."/-%(./("7%$(H#%$-0(#"/(%,1%7#L$$-#%:2-#"0)#-%.%-0%'#,$-$$*%2"#%E,1%-#%
+,#($"((F%-(%0"(A#/.1%8-1#-'%.%)-#-$%:2-#)"1%EKBL/"0)*%XiUkF6%QB/1-0)-%8-$7#.2-/$-%-#%8/"0(%
"00-(%1.((%'H%8-1#-'-(9%
tuc,>>A0.(L%"#(u%1-0-#"//L%#-+-#$%(,%"%'#,=-$$%,+%=,//"8,#"(.2-%"#(%>"7.01%(:"(%="0%8-%"''/.-)%(,%"0L%
>-).A>%ED--%8-/,<F6%O:,A1:%(:-%(-#>%v=,>>A0.(L%"#(a%"/#-")L%.>'/.-$%"%'#,=-$$%(:"(%A$A"//L%:"''-0$%
.0%"0%"=(.2.(L*%(:-%(-#>$%\=,>>A0.(L%"#(%'#,=-$$]%"0)%\=,>>A0.(L%"#(%"=(.2.(L]%=,0(.0A-%(,%8-%A$-)%
=,>>,0/Ll%"%#-)A0)"0=L%/.7-/L%(,%8-%=,>>.((-)%(,%->':"$.g-%(:-%.>',#("0=-%,+%(:-%'#,=-$$6%
uc,>>A0.(L%"#(u%#-+-#$%(,%(:-%"#($%.0%1-0-#"/*%=,>'#.$.01%,+%"%#"01-%,+%"#(%+,#>$l%:,<-2-#*%u=,>>A0.(L%
"#($u%.$%,+(-0%A$-)%"$%<-//6%e:-0%(:-%$'-=.+.=%(-#>$%f=,>>A0.(L%>A$.=u*%=,>>A0.(L%)"0=-u%"0)%
u=,>>A0.(L%)#">"u%"#-%A$-)*%(:-%"A(:,#%"++,#)$%(:->%(:-%$">-%>-"0.01%"$%u=,>>A0.(L%"#(u%)-2-/,'-)%
.0%(:.$%).$$-#("(.,0*%8A(%#-+-##.01%$'-=.+.="//L%(,%"%$.01/-%>-).A>666%Ee,01*%XiUV*%$6%UiF%
!
!
S!A118(E\\]]]I1'2#21W+,7,#I,PI$*\!
!D>!
R-1%(,/7-#%)-((-%$,>%"(%3"0("%4-.%(-07-#%"(%)"0$%-#%0-((,''%>-#%-00%8"#-%-0%)"0$-+,#-$(.//.016%
5-(%7"0%2I#-%>-)%'H%H%8L11-%,''%#-/"$J,0-#%,1%-0%.)-0(.(-(*%8H)-%.0).2.)A-/(%,1%.%$">+A00-(*%
1J-00,>%-0%$">"#8-.)-0)-%'#,$-$$*%.%-(%7A0$(0-#.$7%'#,$J-7(6%5"0$-0%-#%+,#%"//-6%D-/2%$.-#%)-%
"(%)-%2"#%2"0(%>-)*%+#"%$(A).-$(-)-#%-//-#%J,88'#,$J-7(-#%.%A(/"0)-(*%"(%'A8/.7A>%'H%-(%-//-#%
"00-(%2.$%$7A//-%8/.%.02,/2-#(*%,1%>"0%$7A//-%$B#1-%+,#%"(%"#8-.)-(%2"#%#-/-2"0(%+,#%
'A8/.7A>$1#A''-0%>"0%B0$7-(%H%0H6%5-((-%2"#%-0%$-/2+B/1-%,1%.01-0%>,((,7%B7,0,>.$7%$(B((-%
$H%/-01-%.77-%)-((-%2"#%"#1A>-0(-#(%+,#%,1%#-+/-7(-#(%#A0)(6%^H#%M7-0-$%,1%K,/)-0%7,>%(./%
^,#1-%,''/-2)-%)-%-0%"00-0%2.#7-/.1:-(6%5-(%8/-%.77-%1.((%A(%$(B((-%(./%A0)-#2.$0.01$'#,$J-7(-(6%
K-#%2"#%)-(%-0(-0%-//-#9%CA0$(%-//-#%3-)"1,1.776%
S%>.((%.0(-#2JA%>-)%3"0("%4-.%B0$7-(%J-1%H%+H%+#->%)-#-$%$L0$'A07(%,1%+,#$(H-/$-#%#A0)(%:2"%
$,>%-#%2.7(.1%+,#%)->%0H#%)-%'#,)A$-#-#%7A0$(%+,#%8"#0%,1%A01),>*%+,#%H%7A00-%$-%)-((-%.%
7,0(-7$(%>-)%:2"%A01),>>-0%-#+"#-#6%5-%'H'-7-#%"(%)-%.77-%"//(.)%/"1-#%+,#-$(.//.01-#%$'.$$-(%
>,(%)-00-%"/)-#$1#A''-0*%>-0%"(%)-%,+(-%/"1-#%+,#-$(.//.01-#%$,>%-#%>-0(%+,#%-(%8#-)(%
'A8/.7A>*%,1%"(%8"#0%,1%A01-%-#%(-07(%$,>%-0%$-/2+B/1-/.1%)-/%"2%)-00-%8#-))-06%!"#$%&$%
'"()$%:"#%-0%0-)#-%"08-+"/(%"/)-#$1#-0$-%$,>%-#%UY%H#6%5-%$L0-$%A"0$-((*%$'-$.-/(%>-)%("07-%
'H%8"#0%,1%A01),>*%"(%)-(%-#%2.7(.1%H%/"1-%+,#-$(.//.01-#%$,>%(./%-0%2.$$%1#")%-#%+.1A#"(.2-*%$,>%
)-%7"//-#%)-(6%5-((-%+,#$(H#%J-1%$,>%-0%+,#>%+,#%8.//-)/.11JB#.01%>-)%8-2-1-/$-#%,1%7#,''*%
"/($H%H%/"1-%(L)-/.1-%8./)-#%>-)%7#,''-06%S%(.//-11%(./%$=-0,1#"+.*%7,$(L>-#%,1%)-(%H%/"1-%-0%
:-/:-(%$,>%$.7#-#%"(%>"0%7,>>A0.$-#-#%0,-%$,>%'A8/.7A>%7"0%7J-00-%$-1%.1J-0%.*%-//-#%$,>%
$7"'-#%0L$1J-##.1:-(%,1%,''>-#7$,>:-(%$,>%8"#0%7"0%8#A7-%+"0("$.-0%$.0%.00%.*%A(-0%"(%)-(%-#%
+,#7/"#(%>-)%,#)*%-#%2.7(.16%D/.7%J-1%+,#$(H#%)-(*%-#%)-%,''("((%"2%"(%)"0$-0%.77-%$7"/%8/.%+,#%
.00$0-2#-(%-//-#%8-1#-0$-(%(./%-(%'A8/.7A>%$,>%7A0%-#%$'-$.-/(%.0(-#-$$-#(6%5-%8#A7-#%"8$(#"7(-%
8-2-1-/$-#*%0,-%"00-(%2.//-%2I#(%A>A/.1%.%)"0$-$">>-0:-01*%>-0%)-%("#%,1$H%.%8#A7%(-"(#"/$7-%
-/->-0(-#%,1%-((-#/.70-0)-%8-2-1-/$-#*%$,>%>A/.1-0$%1JB#%)-(%0-((,''%>-#%(./1J-01-/.1%,1%
+,#$(H-/.1*%,>%>"0%2./*%+,#%"//>-00:-(-06%5-%7"//-#%)-((-%+,#%)"0$-(-"(-#*%E-(%8-1#-'%J-1%$-0-#-%
.%(-7$(-0%1H#%0I#>-#-%.00'HF*%,1%B0$7-#%"(%\>"00-0%.%1"("]*%8H)-%>-)%,1%A(-0%
)"0$-8"71#A00*%$7"/%+H%1/-)-0%"2%)"0$6%d00-%K6%M7-0-$%$.-#%.%+,#$70.01$.0(-#2JA-(9%\666)-(%
$7"/%2I#-%+,#-$(.//.01-#%>,(%-(%8#-)(%'A8/.7A>*%8H)-%+,#%)-%>-)%,1%A(-0%)"0$-8"71#A00*%,1%
)-(%-#%2.7(.1%+,#%,$$*%,1%$B#1-%+,#%"(%)"0$-(-"(-#$J"01-#-0%+,#%,$$%-#%(./#-((-/"1(%+,#%+/-#-%-00%
>-0.1:-(-0]%EM7-0-$*%XiUjF6%
3"0("%4-.%/"1-#%7A0$(*%>-0%-#%.77-%7A0%,''("((%"2%$.0%-1-0%7A0$(0-#.$7-%'#,$-$$*%.%$H%>H(-6%5-%
B0$7-#%:-//-#%H%0H%A(%,1%7,>>A0.$-#-%)"0$-0%>-)%+/-#-*%,1%$7"'-%-0%+-//-$%'/"((+,#>%+,#%
,''/-2-/$-06%!"#$%&$%'"()$%-#%-(%#-$A/("(%"2%"(%)-%B0$7-#%H%:"%'A8/.7A>%8H)-%(-((%'H%,1%
!DD!
$">"#8-.)-%>-)%)->%A0)-#2-.$6%5-%$L0$%)-(%-#%+/,((%0H#%)-%+H#%(./8"7->-/).01-#%+#"%'A8/.7A>%
:2,#%)-%+,#(-//-#%"(%)-%+B/(-%$-1%$,>%-0%)-/%"2%+,#-$(.//.01-0%,1%"(%)-%8/-%7J-0(%>-)%)"0$-#0-%
'-#$,0/.16%3"0("%4-.$%>H/%-#%0-((,''%)-((-6%5-%2./%/"1-%7A0$(%$,>%-#%(./1J-01-/.1%,1%(./%$(-)-%
+,#%"//-%>-00-$7-#*%,1%.77-%,'':BL-%7A0$(-0%-//-#%7A0$(0-#0-%'H%0,-%>H(-*%>-0%:-//-#%/"1-%-0%
+-//-$%#-+-#"0$-#">>-%,1%J,88-%+,#%"(%+/-#-%$7"/%+H%-(%-.-#+,#:,/)%(./%)"0$-06%5-00-%
7A0$(0-#.$7-%(./0I#>.01-0%-#%)-%2-/).1%(L)-/.1-%,1%J,88-#%8-2.$$(%>-)*%,1%$-#%)-((-%$,>%$.((%
$">+A00$"0$2"#%$,>%0-((,''%7A0$(0-#-6%%
%666%2.%-#%,''("((%"2%H%1H%$H%/"01(%2.%7"0*%A(-0%H%1H%,2-#%.%'-)"1,1.776%5-(%:"0)/-#%,>%-0%7A0$('#,)A7$J,0%
$,>%$7"'-#%-.-#+,#:,/)%(./%)"0$-0%,1%$,>%$-((-#%.%1"01%("07-#%#A0)(%$">+A00$+-0,>-0-#%+,#%+/-#-*%.%
)."/,1%>-)%,$$6%EM7-0-$*%XiUjF%
WJ-00,>%0-((,''%)-00-%+,#>-0*%.02,/2-#-0)-%7A0$(*%$,>%.%GG5*%1.#%8-1#-'-(%#-/"$J,0-//%
7A0$(%-0%7A0$(0-#.$7%"A(,0,>%.)-0(.+.$-#.01%"2%)-(%3"0("%4-.%1JB#*%>-0-#%)-%$-/26%D-/2%,>%)-%
7"0%:"%'-)"1,1.$7-%.001"01-#*%-#%)-(%7A0$(%,1%7A0$(A(B2-/$-%)-%/"1-#%,1%)#.2-#%>-)*%)-(%-#%
#-/"$J,0-//%7A0$(6%
%
%
%%%%%Q,(,9%^.-/%^.$8-(%
!
!
!
!
!DC!
!
"#$%!&%!'#()%>%9('%:(51$11%2"8%:(5.=?2%
Q,#-$(.//.01-0%GG5%8/-%+B#$(%,1%+#->$(%/"1-(%.%c,@'#,)A7$J,0%>-)%#-1.,0(-"(#-(%.%PA$7-#A)*%
P#"1-(-"(#-(6%5-0%2"#%-0%)-/%"2%-(%$(B##-%'#,$J-7(*%OS!O*%E$,>%.%XiUj@Xi%,1$H%'H1H#%.%"0)#-%
#-1.,0-#F%$,>%3"0("%4-.%+.77%B7,0,>.$7%$(B((-%(./%,1%$">"#8-.)-(%>-)%D'"#-8"07$(.+(-/$-0%
,>6%3#,+-$J,0-//-%)"0$-7A0$(0-#-%,1%A01-%)-/("1-#-%$">"#8-.)-(%,1%>B((-%)-(%/,7"/-%
'A8/.7A>>-(6%o#-(%>-)%OS!O%.%S00/"0)-(%J,88-(%)-%8/"0(%"00-(%>-)%-(%.0(-1#-#.01$'#,$J-7(%
)-#%"$L/$B7-#-%,1%)-/("1-#-%>B((-$6%5-00-%-++-7(-0%"2%)"0$-0%$,>%$,$."/%+A07$J,0%:"#%2.$(%$-1%
H%2I#-%$(,#*%$"%3."%K,/)-0%.%-(%.0(-#2JA%1J,#(%>-)%3-#.$7,'*%(.)$$7#.+(-(%,>%7A0$(%+,#%8"#0%,1%
A01-%EKBL/"0)*%XiUkF6%D">(.).1%2.$$(-%M7-0-$%,1%K,/)-0%"(%GG5*%$7A//-%A(%.%5CD%.%
A01),>$$7,/-0*%.%(.//-11%(./%H%$'.//-%H'0-%+,#-$(.//.01-#%.%)-%$">>-%7,>>A0-0-6%5-0%>H((-%
,>+"20-%-(%8#-)(%'A8/.7A>6%
GG5%$7A//-%:"0)/-%,>%H%7,>>-%(./8"7-%(./%)"0$-1/-)-0*%H%7J-00-%)-0%-0,#>-%7#"+(-0%.%
8-1L00-/$-0*%)-#%:2,#%"/(%$("#(-(6%5-0%,2-#,#)0"%(->"(.77-0%2"#%.)-0(.(-(*%,1%)-((-%2"#%-(%(->"%
)-%:"))-%+,#$7-(%'H%1J-00,>%>"01-%'#,)A7$J,0-#%,1%)-(%-#%"//(.)%-(%#-/-2"0(%(->"%+,#%
A01),>6%M((-#:2-#(%$,>%)-(%8/-%+,7A$%'H%A(B2-#0-$%'-#$,0/.1-%:.$(,#.-#*%$H%)-%,1$H%"(%)-((-%2"#%
-(%#-/-2"0(%(->"*%,1%0,-%A01),>>-0-%7A00-%#-/"(-#-%$-1%(./6%T0)-#%A("#8-.)-/$-0%,1%A0)-#%
'#B2-'#,$-$$-0%:"))-%)-%+/-#-%A01),>$$7,/--/-2-#%,1%2.)-#-1H-0)--/-2-#%.00-%'H%'#B2-#6%5-%
/.7-#%1-0-#-/(%"(%+,/7%7,>>-#%.00,>*%-0(-0%)-(%-#%2"$7-#-%-//-#%(-"(-#$J-+-#*%"//-%-#%2-/7,>0-6%
T/.7-%7A0$(0-#.$7-%,''8L10.01-#%,1%)#">"(A#1.-#%8/-%'#B2)%A(%,1%-/-2-0-%1"2%#-$',0$%,1%
(./8"7->-/).01-#%.%-((-#7"0(6%D">("/-0-%:"0)/-(%)"%>L-%,>%:2,#)"0%#-/"$J,0-0%>-//,>%
'A8/.7A>%,1%A(B2-#%.%#,>>-(%$7A//-%2I#-*%,1%#H)%,>%:2"%)-%#.7(.1%-(.$7-%2"/1-0-%2"#%+,#%"(%
)-00-%#-/"$J,0-//-%)-/-0%$7A//-%8/.%,'(.>"/6%
5-(%>-$(-%"2%+,#-$(.//.01-0%,1%#">>-0-%#A0)(%-#%+"$($"((*%>-0%$">(.).1%/.11-#%)-(%-0%H'-0:-(%.%
)-/-#%"2%$(#A7(A#-0*%$,>%1JB#%"(%)-(%A0)-#%)-/-#%7"0%$7J-%+,#$7J-//.1-%>,>-0(-#%+#"%'A8/.7A>%
(./%'A8/.7A>6%5-((-%1JB#%"(%A(B2-#0-%,1$H%>H%.>'#,2.$-#-%+#"%1"01%(./%1"01*%,1%"(%M7-0-$%,1%
K,/)-0*%$,>%7,#-,1#"+-#*%0,-0%1"01-#%:"#%,''/-2)%"(%)-%>H%$(#">>-%.00%/.((%0H#%A(B2-#0-%:"#%
8/.((%+,#%7,>+,#("8/-%.%.>'#,2.$"$J,0-0-%,1%>.$(-(%/.((%1#-'%,>%)#">"(A#1.-06%D">(.).1%-#%,1$H%
-(%"2%7J-00-(-10-(%'H%"(%+,#-$(.//.01-0%"(%A(B2-#0-%-#%$H'"$$%(#L11-%,1%>,)0-%)"0$-#-%$,>%
+"7(.$7%(B#%H%("%0,-0%$J"0$-#*%$.-#%3"0("%4-.6%5-((-%>-0-#%)-%$7"'-#%-0%-/"$(.$.(-(6%
%
!DL!
%
Q,(,9%^.-/%^.$8-(%
GA$.77-0%$'.//-#%-0%2.7(.1%#,//-%.%GG5*%,1%)-(%2"#%2.7(.1%"(%>A$.77-0%2"#%#-((-(%>,(%
A01),>>-0-%1J-00,>%-0%A#8"0%>A$.77$J"01-#6%GA$.7-#-0%-#%-0%)-/%"2%$(L77-(*%,1%8/.#%-0%
A(B2-#%'H%/.7%/.0J-%$,>%)"0$-#0-*%0,-%$,>%-#%.0(-#-$$"0(%.%$-1%$-/2*%,''/-2-#%J-16%GA$.77-0%
:"0%$">'/-#%#-$,0-#-#%8#"%>-)%)-%'-#$,0/.1-%:.$(,#.-0-*%,1%)-00-%.001"01-0%(./%H%)-$.10-%/L)%
-#%.0(-#-$$"0(%+,#%A01),>6%&1$H%(-7$(*%)-%'-#$,0/.1-%:.$(,#.-0-*%-#%-(%-/->-0(%$,>%3"0("%4-.%
$L0$%+A07-#%1,)(%>-)%)-(%+.1A#"(.2-%)"0$-(-"(-#-(6%5-%-#%,''("((%"2%H%+.00-%)-00-%8"/"0$-0%
>-//,>%H%.77-%,2-#+,#7/"#-%-//-#%$.%)-(%$">>-%.%8-2-1-/$-0-%$,>%(-7$(-0%$.-#*%>-0%"(%).$$-%(,%
/"1-0-%+H#%$">"#8-.)-%+,#%H%$7"'-%-0%>-$(%>A/.1%.0(-#-$$"0(%+,#-$(.//.01*%+,#$(-#7-%:2-#"0)#-%
,1%+,#(L77-%,''/-2-/$-0*%$,>%)-%$.-#6%5-(%-#%2.7(.1%H%',-01(-#-%"(%)-00-%(-7$(-0%.77-%-#%-(%
>"0A$%$,>%)"0$-#0-%:"#%/I#(%$-1*%>-0%)-#-$%'-#$,0/.1-%:.$(,#.-#*%$/.7%"(%)-%7"0%$0"77-%A(%+#"%
:J-#(-(6%5-(%H%$'B##-%:2"%$,>%1.#%>-0.01%(./%)-(%>"0%1JB#%'H%$=-0-0%,1%.%)-(%:-/-%("((%B0$7-#%"(%
'A8/.7A>%$7"/%/-11-%.%)-(*%$L0-$%3"0("@4-.%-#%.0(-#-$$"0(6%&>%0,-*%)-(%2I#-%$-1%8-2-1-/$-#*%
/L$%-//-#%>A$.77%+6-7$6*%8/.#%,2-#(L)-/.1*%7"0%)-(%+,#(%8/.%7/.$Jm*%$,>%)-%$.-#%$-/26%5-((-%-#%
2"0$7-/.1%H%8"/"0$-#-%,1%0,-%M7-0-$%,1%K,/)-0%).$7A(-#-#%>"$$-6%O./%1J-01J-/)%-#%)-%-0.1-%
,>%"(%)-(%-#%7J->'-$(-#7(%0H#%)-(%+A01-#-#%,1%)-%+.00-#%)-00-%8"/"0$-0*%,1%7"0$7J-%0-((,''%
)-#+,#%\'#"(-#]%)-#-$%+,#-$(.//.01-#%(./%$H%>"01-6%
"#$%!&%!'#()%>%)"#%5::8$&$81$%
5-(%-#%'A>'-0)-%/L)%.%)-(%2.%7,>>-#%.00%.%8/"=78,b*%)-(%7"0%/.10-%'H%$H7"/(%:,A$->A$.77*%
-//-#%=/A8@>A$.77*%,>%>"0%2./6%O#-%$(,#-%$,#(-%>,)A/-#*%$,>%/.10-#%7/,$$-#*%-#%'/"$$-#(%.00(./%
(#-%"2%2-11-0-6%R-1%2./*%2.%BL->H/*%"0("%"(%:2-#%"2%)->%-#%#A0)(%U%>-(-#%:BL*%Y@Z%>-(-#%8#-)%
,1%X%>-(-#%)L'6%3H%)-0%+J-#)-%2-11-0%-#%)-(%8L1)%,''%0,-%$,>%7"0%/.10-%-0%"2/"01%$=-0-*%
>-)%>"$$-%A($(L#%'H*%,1%-(%>.7$-8,#)6%[.%8/.#%("((%.>,(%"2%(#-%A(B2-#-*%E(,%>"00/.1-%,1%-0%
72.00-/.1F*%$,>%1-/-.)-#%,$$%8,#(%(./%)-%+,#$7J-//.1-%>,)A/-0-%,1%8-#%,$$%("%'/"$$%-0(-0%,''H%
!DS!
7"0(-0%-//-#%'H%1A/2-(%/"01$%2-)6%D">(.).1%$(H#%)-(%-0%>A$.7-#%E>"00/.1F*%$,>%7"0%/.10-%-0%)J*%
,1%$'.//-#%'H%)-0%\+J-#)-]%$.)-06%5-(%-#%'/"$$-#(%>.7#,+,0-#%'H%>.7#,0$("(.2%.%0,-0%"2%
:JB#0-0-6%!L$-(%-#%0,-%)->'-(*%,1%>"0%+H#%+B/-/$-0%"2%H%7,>>-%.00%'H%-0%0"((7/A886%^H#%"//-%
:"#%+A00-(%$-1%-0%'/"$$%,1%\#">>-(]%.00%-0%$=-0-%.%>.)(-0*%/,,'-$%$'B#$>H/-(%B/C%"+$%A/0N%
GA$.7-#-0%:"#%-0%/,,'>"$7.0%$,>%:"0%/"1-#%>A$.77%'H6%5-(%8/.#%-0%7A/%8-"(%,1%)"0$-#0-%1JB#%
-0%)"0$-$-72-0$%$,>%:"#%-/->-0(-#%"2%>,)-#0-;$">(.)$)"0$%,1%A#8"0)"0$%.%$-1*%)-#%)-%
8-2-1-#%$-1%+#"%:JB#0-%(./%:JB#0-*%>-)%,$$%.%'A8/.7A>%#A0)(%$-16%5A%$-#%"(%)-%:"#%A/.7-%
8-2-1-/$-$$'#H7*%>-0%$">(.).1%-#%8-2-1-/$-0-%'#-$.$-%>-)%1,)%+/L(6%[.%$-#%)"0$-#0-%+#"%
+,#$7J-//.1-%2.07/-#*%,1%)-%-#%$H%0I#>-%"(%)A%0,-0%1"01-#%>H%'"$$-%8-.0"%).0-%+,#%"(%)-%.77-%
$7"/%$0A8/-%.%)->6%DH%8-1L00-#%)-%H%'#-$-0(-#-%:2-#"0)#-*%m0%,1%m0%.%>.7#,+,0-0*%>-0$%)-0%
$,>%8/.#%'#-$-0(-#(%8-2-1-#%,1%1J-0$'-./-#%)-(%$,>%8/.#%$"1(%>-)%7#,''-06%K2-#%+,#(-//.01%:"#%
$.0%-1-0%)#">"(A#1.%,1%"//-%+,#(-//-#%,>%$.((%A0.7-%>B(-%>-)%)"0$-0%,1%:2,#)"0%)-(%:-/-%
$("#(-(6%K.$(,#.-0-%-#%I#/.1-%,1%$-/2%,>%0,-0%"2%)->%:"#%-(%'#-1%"2%"/2,#%,1%(#.$(:-(*%-#%)-(%.%
8A00%,1%1#A00%\+--/%1,,)]%:.$(,#.-#6%5-%-0)-#%1,)(*%>-0%:"#%"//-%8A)$7"'%A01),>%7"0%
#-/"(-#-%$-1%(./%-//-#%$,>%-#%1,)-%H%("%>-)%$-1%2.)-#-%.%/.2-(*%7"0$7J-%$'-$.-/(%.%)-00-%"/)-#-06%
\[I#%)-1%$-/2*%"/)#.%1.%,''*%(B##%H%("%-10-%2"/1*%8-)#-%H%"01#-%'H%0,-%>"0%:"#%1J,#(%-00%.77-%
1J,#(*%,$26]6%G.00-0-%,1%:.$(,#.-0-%)-%+,#>.)/-#%1J-00,>%$'#H7*%$,>%)-%2.)-#-%7#,''$/.11JB#6%
P-2-1-/$-0-%8/.#%)"0$-0)-%+B/-/$-#%A$.77-#:-(*%")#-0"/.0@#A$:%.%7#,''-0*%$H#8"#:-(%,1%)-(%H%
+B/-%"(%>"0%-#%\,0%(,'%,+%(:-%<,#/)]*%+,#%H%1.%0,-0%-7$->'/-#6%5-(%-#%8H)-%$'-00-0)-%,1%
+"$=.0-#-0)-6%GA$.7-#-0%+H#%,1$H%+,#(-//-%$.0%:.$(,#.-*%,1%-#%$H%"8$,/A((%.07/A)-#(%.%:-/:-(-06%
5"0$-#0-%:"#%:2-#%$.0-%$(L#7-#*%m0%-#%2-/).1%"7#,8"(.$7*%m0%:"#%#B((-0-%$.0-%.%:.':,'%)"0$-0*%
>-0$%)-0%$.$(-%-#%>-1-(%)L7(.1%.%-0%(-70.77%$,>%:-(-#%#-/-"$-*%.00-0%>,)-#0-$J"01-#-06%5-%-#%
"//-%/-70-%,1%8/"0).01-0%>-//,>%'#"(-0*%)-%7,07#-(-%,1%"8$(#"7(-%8-2-1-/$-0-*%:A>,#-0*%
/L)-0%"2%'A$(-0%(./%A(B2-#0-*%$'-00-0)-%>A$.778-"(%,1%.0(-0$(%/L)/"0)$7"'*%8/"0)-(%>-)%/L$%
,1%A01),>%$,>%$.((-#%,1%).11-#%(-((@.@(-((*%-#%7A/(%H%$-%'H6%3H%-(%(.)$'A07(%-0)#-#%/L)8./)-%$-1%
,1%/L$-(%)->'-$6%5-0%-0-%)"0$-#-0%+,#(-//-#%-(%>.00-%+#"%)"%:"0%2"#%'H%-0%7/A88%.%A(/"0)-(%,1%
8/-%A(+,#)#-(%(./%8"((/-*%E)"0$-7,07A##"0$-%>-//,>%(,%'-#$,0-#F6%K"0%+,#("/(-%"(%:"0%+B/(-%$-1%$H%
.00>"#.%/.(-0*%>-0%"(%:"0%1"%"/(6%3H%)-((-%(.)$'A07(-(%1H#%)"0$-#-0%.00%8/"0(%'A8/.7A>%$,>%
$.((-#%'H%1A/2-(*%+.00-#%$-1%$H%-0%\>,($'.//-#]%,1%'#"(-#%(./%:">%$,>%,>%)-(%2"#%)-00-%'-#$,0%
$,>%:"))-%A(+,#)#-(%(./%7,07A##"0$-6%5-(%,''#-((-$%:-#%-0%7,0("7(%,1%>-//,>%A(B2-#%,1%2"/1(%
'A8/.7A>>-#*%,1%:-#%8/.#%(./$7A-#-0%'/A($-/.1%A(B2-#%$-/26%3A8/.7A>>-#-0%$'.//-#%>-)*%,1%
)-#>-)%+H#%)"0$-#-0%.$=-0-$"((%$.(A"$J,0-0%:"0%,''/-2)-6%R-1%2"#%'H%(,%+,#-$(.//.01-#%,1%A0)-#%
8-11-%8/-%(,%+,#$7J-//.1-%'A8/.7A>>-#-%>-)%$,>%)-/("1-#-*%>-)%$(,#%"''/"A$%,1%JA8-/%+#"%
>-)-/-2-#%-((-#'H6%R-1%(#,))-%)-(%2"#%'/"0/"1(*%"(%)-%(,%A/.7-%A01),>>-0-%$,>%8/-%>-)%.00%'H%
!D<!
>.)(-0%"2%$=-0-1A/2-(*%:"))-%+H((%2.(-%"(%)-%7,>%(./%H%8/.%'/A77-(%A(%.%+,#7"0(6%5-(%2"#%)-(%.77-*%
+.77%J-1%2.(-%.%-((-#(.)6%K-#%8/.#%0,-%2.#7-/.1%$"((%'H%$'.//*%8H)-%+,#%A(B2-#0-%,1%+,#%'A8/.7A>6%
R-1%7"0%(-07-%>-1%"(%:-#%-#%)-(%#,>%+,#%"(%>L-%A/.7(%7"0%,''$(H%,1%"(%)-(%:"0)/-#%>L-%:2,#%
(#L11-%-/-2-0-;'A8/.7A>%-#*%8H)-%8/"0(%$.0-%>-)-/-2-#%,1%'H%$-1%$-/26%!.7-2-/%,''/-2-#%J-1%
.77-%$.(A"$J,0-0%$,>%$H#8"#*%A(B2-#-0%8#A7-#%>L-%:A>,#%.%.001"01-0%"2%)-0%+,#("/(-%
-'.$,)-0*%:"0%1.#%,2-#("7-(%(./%(./$7A-#-0%.%+,#>%"2%"(%)-(%-#%(./$7A-#-0%$,>%/-)-#%)-00-%+.7(.2-%
$.(A"$J,0-0*%)-(%-#%:"0%$,>%\.02.(-#-#]%(./%8"((/-%,1%)-(%-#%:"0%$,>%8/.#%$-((%'H%$,>%1,)%,1%>-)%
\>"7(]6%T(B2-#-0%2.#7-#%.%(.//-11%$H'"$$%(#L11%'H%$-1%$-/2%,1%:2,#)"0%:"0%$7"/%:H0)(-#-%
$.(A"$J,0-0%"(%A"0$-((%:2,#)"0%)-0%A(2"/1(-%(./$7A-#-0%:"))-%#-"1-#(%(#,#%J-1%)-(%2.//-%8/.((%
(#,2-#).16%
[.%8/.#%$H%8-)(%,>%H%$-((-%,$$%>-#%.00'H%$=-0-0%.)-(%)"0$-#0-*%m0%,1%m0*%'/A($-/.1%)"0$-#%'H%)-%
$(,#-%>,)A/-0-%$,>%2.%(.)/.1-#-%$"((%'H6%5-((-%$7"'-#%0L-%'-#$'-7(.2-#%,1%,''/-2-/$-#%"2%
#,>>-(6%G,(%$/A((-0%7,>>A0.$-#-$%)-(%>-//,>%)"0$-#-%,1%>A$.7-#*%)-%B0$7-#%$-1%0,-0%+#"%
'A8/.7A>%$,>%7"0%$.%0,-%.%>.7#,+,0-0*%:2"%$,>%:-/$(6%O#-@+.#-%$(L77-#%+H#%'#B2-%$-1*%,1%"2%
).$$-%/L)-0-%/"1-$%)-(%>A$.776%5-(%$2.01-#h%d//-%8/.#%8-)(%,>%H%#-.$-%$-1%,1%)"0$-%)-(%A(*%\/"(%
$,>%)-#-%-#%'H%)-0%+-(-$(-%0"((7/A88-0h]%O"7-(%/B+(-#%$-1*%"#>-0-%'A>'-#*%>-0$%)-(%:,''-$%
,''%,1%0-)6%R-1%:B#-#%0,-0%#,'-*%\)-((-%2"#%)-0%8-$(-%$("#(-0%'H%:-/1"]6%
G.0%,''/-2-/$-%$,>%8H)-%+,#$7-#*%'-)"1,1%,1%7A0$(0-#*%-#%)-0%$">>-%$,>%A01),>>-0$6%R-1%
8/.#%.%1,)(%:A>B#%,1%$.((-#%.1J-0%>-)%-0%7#.8/.01%.%7#,''-06%5-(%2"#%0,-%>-)%:-/-%$(->0.01-0*%
)#">"(A#1.-0*%>A$.77-0%,1%)-%)L7(.1-%)"0$-#-%$,>%+-01-(6%5-(%"(%!"#$%&$%'"()$%:"#%-0%
"00-0%+,#>%-00%-0%(#").$J,0-//%)"0$-+,#-$(.//.01*%:2,#%1J-#0-%$=-0-%,1%$"/%-#%")$7./(*%1J,#)-%
)-0%-7$(#"%$'-00-0)-6%D'-00.01-0%>-//,>%)-((-%,1%0-((,''%)-(%A01),>>-0-%-#+"#(-%2"#%0,-%
J-1%$H%-(%1,)(%+,#$70.01$',(-0$."/-%.6%3"0("%4-.%8-0-20-#%)-(%)-%)#.2-#%>-)%$,>%#-/"$J,0-//%
7A0$(*%0,-%$,>%+,#B2#.1%.77-%-#%2"0/.1%8-1#-'%.00-0%)"0$6%R-1%B0$7-#%)-#+,#%H%8#A7-%)-((-%
2.)-#-*%)"%J-1%$L0$%)-(%+A01-#-#%1,)(%.%)-00-%$">>-0:-01-06%%