4 5,: @6 <,,3 :, .,50,:,5 <(5 /,: 262,5 (39 <(5 +, 4((3:01+ ?.12; D67 B ..; 12 42/?B68@..;D67G6;4 A2 92G2; .; 8B;A B .992 A205;6@052 C<1292; C.; BD :.4;2A?<;R0<:=.0A
5/6;+967.(<, 0,867 46,: ; 3,::,5 +< 52A 6;/
5/6;+967.(<, 2
5/6;+967.(<, 5+,8/6;+ ,5 8,050.05. (05<<;:..8:611292; '26;646;4 C.; 12
0,867 46,: ; 3,::,5 !22@ 12G2 42/?B68@..;D67G6;4 G4CB9164 1< 9922; 1.; 8B;A B BD .==.?..A 4<21 2; C26964 /2162;2; 2D..? 12 42/?B68@..;D67G6;4 2; 52A 6;@A.99.A62R C<@05?63A 4<21 223A B 52A .==.?..A 1< ..; .;12?2; 1<2 12 42/?B68@..;D67G6;42; 2? 1.; /67 %668 /,: 05)6;=,5 030,;<80,5+,3012 (-<6,8,5 %.8 52A .==.?..A B6A 2; C<2? 12 C2?=.886;4 <= 22; :6962BC?62;1296782 :.;62? .3 6A .==.?..A 6@ 4282;:2?8A 6;
%,030./,0+9G <6689*/80-:,5 05+,8,5 ,5 +, 4(.5,:865 ,:, 6<,5 6A .==.?..A 6@ .9922; C< 5B6@5
#<<6A 12 :.4;2A?<; 42/?B682; D.;;22? 12
%,030./,0+905G 9:8;*:0,9 <668 /,: .,)8;02 <(5 +, 4(.5,:865 ,8,0+05. <(5 3,<,5940++,3,5 (.5,:865<,846.,5 ,5 G:01+ ",8<0,9 2 :.4;2A?<; B6A@9B6A2;1 42/?B682; C< 12 /2?2616;4 C.; 92C2;@:611292; ;12?2 A<2=.@@6;42; 8B;;2; 42C..?9678 G67; 2; @05.12 C2?<
8(52,5 67 52A C2?D.?:2; C.; C9<26@A<3 8.; 2? 8<<8C2?A?.46;4 <;A@A..; 6A 5
68@(2,5 <(5 9*/(+, (273((: 6- (3;4050;4-630, 67 +, )6+,4 <(5 +, 6<,5 (05B63 422; /.8=9..A <= 12 /<12: C.; 12
$= 50,;=, (77(8((: 62? 922?A B BD ;62BD2 .==.?..A 82;;2; ,2 92442; B 12 D2?86;4 C.; 52A /2162;6;4@=.;229 :2A 12 @05.829..?@ 2; 6;160.A62@ B6A * 8?674A 6;3
,: ),+0,505.9G 7(5,,3 (A.?AA<2A@ (A<=A<2A@ B;0A6282 BG28;<= #6,:9,5 <668 /,: 4(.5,:865G <,846.,5 6@=9.F 2; /2162;6;4@A<2A@2; ?..68;<= )<2A@2; C< 52A :.4;2A?<;C2?:<42; "2A 12 A<2A@2; @A29A B 52A 42D2;@A2 :.4;2A?<;R C2?:<42; 6; . E>>A 74C >=C3>>84= E0= 64E>4;864 64A427C4= . E>>A 74C >=C3>>84= 4= 3>>A:>:4= . E>>A 74C 14A4834= E0= E;44B 4= 74C >?F0A<4= E0= 64E>4;864 64A427C4= E>>A 74C E4AF0A<4= 4= 14A4834= E0= 64A427C4= . . E>>A 74C E4AF0A<4= E0= E;>48BC>554= ,.
8((02567 "2A 12 1?..68;<= @A29A B 12 1.4A671 A671@1BB? 26;1A671 D2882? 2; 52A 42D605A C< 12 =?<4?.::.R.BA<:..A 6; 4A48:4= B42 T 7 B42 T 7 +893B3DDA <06=4CA>= ,8CI>=34A8=6 . B42 T S<8= 4F827C B42 T ,+0,505.9:6,:9,5 ,5 +0973(? +893B3DDA 0570=:4;89: E0= 74C ?A>6A0<<0 7 .
2 C2?D.?:6;4@0<;A?<92 4223A 12 A2:=2?.ABB?@A6746;4 D22? 67 52A 4?6992; C.; 12 =?<4?.::.R.BA<:..A 2; 12 .BA<:.A6@052 G293?26;646;4 C2?@0567;A 12 C2?D.?:6;4@0<;A?<92 ;62A "*/(2,3((89 +0, 2;55,5 05<(33,5 2 @05.829..?@ 8B;;2; 6;C.992; ?B8 <= 12 @05.829..? <: G2 A2 9.A2; 6;R 2; B6A896882; * 8B;A 12 @05.829..?@ ;..? 96;8@ 2; ;..? ?205A@ 1?..62; %,8=(8405.9G 4,:/6+,5 ? @A..; B C< 12
5:,590,<, =(84:, < 12 @A2?82 56AA2 C.; <;12?2; 8?674A 42/.8 22; /67G<;12? 8;.==2?642 /<12: .?A642 A..?A2; G<.9@ >B6052 5<23A B ;62A :22? C< A2 /.882; $<8 C< 52A /.882; 6; C
08*;3(:0,.8033,5 2A 4?699C2?D.?:6;4@292:2;A 2; 12 C2;A69.A @05.8292; .3D6@@292;1 ..; 2; B6A ; 12 C2?D.?:6;4@=.BG2 D2?C29A 12 C2;A69.A 12 56AA2 162 1< 12 4?699 D1A .34242C2; ?<;1 12 42?205A2; -< D12; C922@@AB882; ..; .992 8.;A2; 8;.==2?64 /?B6; 8033 23,05 62?/67 D1A .9922; 52A :61129@A2 1229 C.; 52A 4?699292:2;A 6;42@05.8291 2G2 C2?D.?:6;4@:2A5<12 6@ 42@0568A C< 8926;2 5<2C2295212; -< @=..?A B 2;2?462 %9..A@ 12 4?699@AB882; 6; 52A :6112; C.; 52A ?<<@A2? 8033 .866: 2A 425292 C9.
%668<,8=(84,5 ; 52A /2?268 C.; I A
<,5 ,5 :6,),/68,5 2 A<2/252; 8B;;2; 6; C2?@056992;12 5<<4A2@ 6; 12
>:8(F:6,),/68,5 4(033,5 )(273((: ' +< 42/.8 2; 8<2872@ (05B63 12 /.8=9..A :2A 12 @05B6;2 8.;A ;..? 12
":,3 +, +(.:01+ 05 "2A 12 1?..68;<= 12 A671 6;@A2992; 2 A<2A@ )671 6;1?B882; #B 6@ 12
, 4(.5,:865 * 8B;A 12 :.4;2A?<; @<9< 1 D G .9922; <3 6; 0<:/6;.A62 :2A 22; .;12?2 C2?D.?:6;4@:2A5<12 42/?B682; 62? C6;1A B 6;3
,.;;22? B ;62A G282? D22A <3 BD @2?C62@ 42@0568A 6@ C< 12 :.4;2A?<; 1<2A B 12G2 A2@A %9..A@ 52A 9242 @2?C62@ J A
, :01+9+;;8 09 (-.,367,5 ? 896;8A 22; @64;..9 2
<,5 059:,33,5 * 5223A C2?@056992;12 :<4296785212; <: BD
"2A 12 3B;0A6282BG28;<= 12 42D2;@A2 A2:=2?.ABB? <3 @A.;1 6;@A2992; 17'0= 10&'38 2 @A.?AA<2A@ 6;1?B882; 17'0= 10&'38#3/ $0:9*/(2,3,5 ,.;;22? 52A 42?205A 89..? 6@ AD22:..9 <= 12 @A<=A<2A@ 1?B882; <3 12 <=2;12B? <=2;2; 2; 22;:..9 <= 12 @A<=A<2A@ 1?B882; 2 A28@A <= 52A 16@=9.F D1A 42D6@A 59:,3305. =01@0.,5 * 8B;A 12 A2:=2?.ABB? <3 12 4?699@A.;1 <= 298 42D2;@A :<:2;A C2?.;12?2; ":677,5 $C2;12B? <=2;2; 2 8<29C2;A69.A 8.; C2?12? 9<=2; ?B8 ;. 52A @9B6A2; C.; 12 12B? <=;62BD <= 12 @A.
, 6<,5 46,: (;:64(:09*/ ;0:9*/(2,3,5 (A29 6; C<942;@ 12 /2@05?67C6;4 /67 =B;A A
, 6<,5 9*/(2,3: (;:64(:09*/ 05 ,5 ;0: * 8B;A <<8 22?@A 12 A671@1BB? 2; C2?C<942;@ 12 C2?D.?:6;4@:2A5<12 2; A2:=2?.ABB? 6;@A2992; (A29 :2A 12 1?..68;<= 12 A671@1BB? 6; 2; 1..?;. :2A 12 3B;0A6282BG28;<= 12 C2?D.?:6;4@:2A5<12 ?B8 <= 12 A<2A@ 2; D67G64 12 A2:=2?.ABB? (A.?A 12
2 @A.?AA<2A@ 6;1?B882; 2 6;@A2996;4 D1A
"5,3 <668<,8=(84,5 62?:22 8B;A B 12
<,5 ,5 4(.5,:865 .,*64)05,,8+ 059:,33,5 62?/67 D1A A24296782?A671 42/?B68 42:..8A C.; 22; C2?D.?:6;4@:2A5<12 2; 12 :.4;2A?<; * 8B;A 52A C2?:<42; C.; , ;62A 0<:/6;2?2; :2A 22; C2?D.?:6;4@:2A5<12 $= 52A 16@=9.F C2?@0567;A H#62A :<429678 * 8B;A :.E6:..9 16?2 :.4;2A?<;C2?:<42;@ 2; RA6712; 6;@A2992; :..? @9205A@ MM; C2?D.?:6;4@:2A5<12 2; A2:=2?.ABB? * 8B;A 22; A671@1BB? A
(A29 :2A 12 1?..68;<= 12 42D2;@A2 A671@1BB? 6; 2 3B;0A6282BG28;<= ;..? ?205A@ 1?..62; A
2 @A.?AA<2A@ 6;1?B882; $= 52A 16@=9.F 8B;A B 52A C2?9<<= C.; 12 A671@1BB? .392G2; +3%6.#5+')3+..'0 , :01+9+;;8 09 (-.,367,5 ? 896;8A 22; @64;..9 2
;:64(:09*/, 786.8(44( 9 '6 9:,3: ; 05 "2A 12 .BA<:.A6@052 =?<4?.::. @ 8B;A B 5229 22;C
"2A 12 1?..68;<= 52A 42D2;@A2 42D605A 6;@A2992; 2 @A.?AA<2A@ 6;1?B882; $= 52A 16@=9.F 8B;A B 52A C2?9<<= C.; 12 A671@1BB? .392G2; '*#-5 &+'273+'4 '*#-5 &+'273+'4 , :01+9+;;8 09 (-.,367,5 ? 896;8A 22; @64;..9 2
$0:9*/(2,3,5 2 @A<=A<2A@ AD22 822? 6;1?B882; <3 12
5:+660,5 !2C2;@:611292; G< C9.8 :<429678 2; C2?12291 6; =
(8+(77,39 2@056912 ..?1.==29@ ; @AB882; C.; 12G29312 4?<
%3,,9 '<@/623 22?@A /2?2612; :2A 12 8.;A C.; 52A C2A ;..? <;12?2; 2/?.12; ?B;1C922@ 8.93@C922@ 9.:@/
86.8(44(:(),3 31)3#//#)31'2 31)3#//# '4%*+-5' .'7'04/+&&'.
31)3#//#)31'2 31)3#//# '4%*+-5' .'7'04/+&&'.'0 '8+%*54$'3 '+- +0 -) '37+'4 51'$'*13'0 +04%*6+(*11)5' 31'05' A>4=C4 E4AB ;>4<:>>; 1A>22>;8 F>AC4;B :>>;A018 ?A48 ?0?A8:0 0D6DA:4= T *2700; <4C 34:B4; ABC 7>>6C4 A>4=C4 384?EA84B ;>4<:>>; 1A>22>;8 F>AC4;B :>>;A018 A>34 :>>; B?8=0I84 T *2700; <4C 34:B4; ABC 7>>6C4 *86=00; E>>A 74C >4A4= =0 34 L E0= 34 C893 #3'.
31)3#//#)31'2 31)3#//# '4%*+-5' .'7'04/+&&'.'0 '8+%*54$'3 '+- +0 -) '37+'4 51'$'*13'0 +04%*6+(*11)5' T >64 B2700; <4C 34:B4; ABC 7>>6C4 '71)'.5' 4;4 :8??4= E4AB *CD::4= :8? E4AB "8??4=?>C4= 70;E4 :8??4= T >64 B2700; <4C 34:B4; ABC 7>>6C4 "0;:>4=58;4C E4AB "0;:>4=58;4C I>=34A E4; T *2700; <4C 34:B4; ABC 7>>6C4 *86=00; E>>A 74C :4A4= 189 74;4 :8? =0 E0= 34 C893 *86=00; E>>A 74C :4A4= =0 34 L E0= 34 C893 .
31)3#//#)31'2 31)3#//# '4%*+-5' .'7'04/+&&'.'0 '8+%*54$'3 '+- +0 -) '37+'4 51'$'*13'0 +04%*6+(*11)5' 16((.
,468? "2A "2:
(A29 :2A 12 1?..68;<= 12 42D2;@A2 A671@1BB? 6; "2A 12 3B;0A6282BG28;<= 12 C2?D.?:6;4@:2A5<12 862G2; "2A 12 A<2A@ <8
2 A<2A@ "2:
2 @A.?AA<2A@ 6;1?B882; $= 52A 16@=9.F 8B;A B 52A C2?9<<= C.; 12 A671@1BB? .392G2; '5'.6%*5 , :01+9+;;8 09 (-.,367,5 ? 896;8A 22; @64;..9 2
(.:01+ #.1.A 52A .==.?..A C< 12 22?@A2 822? 6@ ..;42@9
#01+9=,,8.(<, ;0: 2A .==.?..A 6@ G< 6;42@A291 1.A 12 1.4A671 C<
(909059:,3305.,5 *D
'6 9:,3: ; 05 * 8B;A C2?@056992;12 A.92; 862G2; +</2291 )..9 D67G642; 6; #212?9.;1@ ;8292 @20<;12; <= 12 A<2A@ "2:
05+,8936: $: A2 C<8<:2; 1.A 86;12?2; =2? <;429B8 12
(A29 :2A 12 1?..68;<= 12 42D2;@A2 D2882?A671 6; !'--'3 +045'..'0 2 A<2A@ ,2882? 6;1?B882; $= 52A 16@=9.F 8B;A B 52A C2?9<<= C.; 12 A671@1BB? .392G2; , :01+ 09 (-.,367,5 ? 896;8A 22; @64;..9 2 A<2A@ ,2882? 6;1?B882; 2 A671 D1A <=;62BD D22?4242C2; &,22,8:01+ <,8(5+,8,5 2 A<2A@ ,2882? 6;1?B882; "2A 12 1?..68;<= 12 A671 C2?.;12?2; 2; D22? <= 12 A<2A@ ,2882? 1?B882; 59:,3305. =099,5 2 A<2A@ ,2882? 6;1?B882; 2; C2?C<942;@ <= 12 @A<=A<2A@ 1?B882; ,.
%,030./,0+9;0:9*/(2,305. "<05A B 22; 822? C2?42A2; G67; 12
#6,),/68,5 4,,8,050.,5 * 8B;A 12 /?..1@9212 <= 5<<4A2 6;@05B6C2; 2; :22?26;642; 2A ?<<@A2? 6@ ;62A 42@0568A C< G293?26;646;4 !<@@2 C<21@29?2@A2; C2A 2; C922@7B@ 8B;;2; C9.: C.AA2; '6@60< C.; /?.;1 #22: 12 /<12: C.; 12
, 8,050.05.9:01+ 09 <,89:8,2,5 ? 896;8A 22; @64;..9 $= 52A 16@=9.F C2?@0567;A H$C2;12B? C2?4?2;1291 2; H ==.?..A 8<29A .3 !,050.05.9+;;8 67<8(.,5 2 A<2A@ )671 6;1?B882; 21B?2;12 2;8292 @20<;12; C2?@0567;A 12 ?2@A2?2;12 A671@1BB? G<;12? .38<296;4@A671 5+0*(:0, A <,5+,;8 <,8.8,5+,3+ 2
"2A 12 1?..68;<= 12 26;1A671 ;..? 9.A2? C2?@05B6C2; 2 @A.?AA<2A@ 6;1?B882; 2 6;@A2996;4 D1A
5+,8/6;+ ,5 8,050.05. 2/?B68 ;<<6A 22; 5<421?B8?26;642? <3 22; @A<<:@A?..9.==.?..A 2C..? C< 8? <4C 44= I027C4 3>4: 3A>>6FA89E4= /'5 #.6/+0+6/ (3105 $8;3 B27>>=<00:<8334; E>>A 6;0B .
$C2?642;@ 2A 2:.69 D1A 6;42/?.;1 <= G22? 5<42 A2:=2?.AB?2; 62?1< 8B;;2; 2? 8926;2 892B?C2?@056992; <;A@A..; 6A 6@ ;
2 ?B6A C.@A5
2 ?B6A 6; 12 4292616;4 =9..A@2; 62A@ <=A6992; 2; C.; /
&(: :, +6,5 )01 9:6805.,5 (A6;42; D12; C..8 C2?<
513+0) 1)'.+,-' 113:##- #08+,:+0) 12.
<,53(47 <,8<(5.,5 * 8B;A 12
,;8+0*/:05. <,8<(5.,5 9@ 12 12B?1605A6;4 12320A 6@ :<2A 12G2 D12; C2?C.;42; +2?C.;42;12 .31605A6;42; G67; C2?8?674/..? /67 12 89.;A2;@2?C602 +2?:291 . B / 52A R;B::2? 2; 52A R;B::2? C.; BD .==.?..A $C2;12B? <=2;2; $B12 12B?1605A6;4 9<@A?2882; 2; C2?D6712?2; $= 12 12B?1605A6;4 G67; 5.82; /2C2@A641 "2A 12G2 5.82; 12 ;62BD2 1605A6;4 ..; 12 12B? C.; 12
3(5:,59,8<0*, ,.;;22? BD .==.?..A 42?2=.?22?1 :<2A D12; @A..A <;G2 89.;A2;@2?C602 C< B 89..? 2A .1?2@ 2; A2923<<;;B::2? C.; 12 1605A@A/67G67;12 @2?C602162;@A C6;1A B 6; 52A A2923<<;/<28 $<8 12 ..;4242C2; @2?C602162;@A2; 8B;;2; B 529=2; ..; 22; @2?C602R.1?2@ /67 B 6; 12 /BB?A G5;44,8 ,5 G5;44,8 223 D.;;22? B 0<;A.0A <=;22:A :2A 12 89.;A2;@2?C602 .9A671 52A =?<1B0A;B::2? R;? 2; 52A 3./?60.42;B::2? R;? C.; 52A .==.?..A <= * C6;1A 52A AF=2=9..A72 :2A 12 ;B::2?@ 6; 12
#(),33,5 ,5 :079 62? C6;1A B 22; 82B? ..; 42?205A2; 2; 12 1..?/67 /252;12 <=A6:.92 6;@A2996;42; * 8B;A ;.92G2; D298 :.4;2A?<;C2?:<42; D2982 C2?D.:6;4@:2A5<12 2; A2:=2?.ABB? 52A :22@A 42@0568A G67; C< BD 42?205A D2982 A<2/252; 2?/67 A2 42/?B682; G67; 2; <= D2982 5<<4A2 52A 162;A A2 D12; 6;42@05
!..A 52A <;A1<<612 =?<1B0A ;<4 R :6;BA2; ?B@A2; /67 8.:2?A2:=2?.ABB? G<1.A 12 A2:=2?.ABB? 429678:.A64 D1A C2?12291 67 42C<429A2 8B;A B 1.; 12 6;42D.;12; C2?D6712?2; 1'7''.= #)0'53107'3/1)'0 8#55 *'+& 5+,&4&663 +0 /+065'0 #08+,:+0)'0 -;44B 744; E0= 74C AD=3 E0A:4= :0;5 <4C 4= I>=34A 144= 6 6 6 . <8= . T <8= . <8= . T <8= . <8= . T <8= $44A<00;B :4A4= -;44B 8= BCD::4= >5 ?;0::4= E0= 74C AD=3 E0A:4= :0;5 6 6 6 . <8= .
5:+660,5 <,8/0::,5 6262,5 <(5 +0,7.,<868,5 .,8,*/:,5 #22: 12 8.;AR2;R89..?:..9A6712; B6A 12 C2?=.886;4 2 42?205A2; D12; 6; @2?C62@4<21 1.A 42@0568A 6@ C< 12 :.4;2A?<; @;2992? 2; 429678:.A642? <=42D.?:1 +2?@056992;12 0<:=<;2;A2; C.; 52A C<21@29 52//2; 22; C2?@056992;12 <=D.?:6;4@A671 ;<164 %9.AA2 42?205A2; D12; @;2992? 4..? 1.; 5<42 +2?1229 12 42?205A2; 1..?<: G< 1B; :<429678
%,8/0::,5 <(5 .,8,*/:,5 #22: 12 8.;AR2;R89..?:..9A6712; B6A 12 C2?=.886;4 2 42?205A2; D12; 6; @2?C62@4<21 1.A 42@0568A 6@ C< 12 :.4;2A?<; @;2992? 2; 429678:.A642? <=42D.?:1 +2?@056992;12 0<:=<;2;A2; C.; 52A C<21@29 52//2; 22; C2?@056992;12 <=D.?:6;4@A671 ;<164 %9..A@ /67 52A C2?56AA2; C.; C9<26@A<332; .9A671 22; A52292=29 6; 52A 49.@ <: 8<<8C2?A?.46;4 A2 C<8<:2; <<8C2?A?.46;4 D69 G2442; 1.A 12 8<<8A2:=2?.ABB? D1A /2?268A G<;12? 1.A 2? /2992; <=@A6742; 62?/67 8.; G293@ 22; 42?6;42 /2D246;4 C.
62,5 <65 .,8,*/:,5 <<8 12 42?205A2; 6; 42@9
#079 <668 +, 4(.5,:865 7+0&5 )''0 +045'..+0) 7113 &' 7113$'3'+&' *1'7''.*'+& 71'&4'. -4A;4=6 >5 E4A:>AC 34 14A4838=6BC8934= E>;64=B 34 E>;64=34 ED8BCA464; 3D114;4 7>4E44;7483 189=0 3D114;4 C893 70;E4 7>4E44;7483 70;E4 C893 '5 )'3'%*5 +4 5' &311) )'813&'0 *C4; 34 E>;64=34 :44A 44= :>AC4A4 14A4838=6BC893 8= >5 :84B 44= ;064A <06=4CA>=E4A<>64= 4: 74C 64A427C 05 4= 3>4 4A <44A E;>48BC>5 189 '5 )'3'%*5 +4 ##0 *'5 '+0&' 7#0 &' +0)'45'.
%3,,9 .,<6.,3:, <09 01 +, :(),33,5 )2:=2?.ABB? 2; /?..11BB? G67; .35.;829678 C.; 12 8D.96A26A 2; 12 8D.;A6A26A ; 12 A./2992; G67; /2?2682; ..;4242C2; 246; :2A 12 9..4@A2 D..?12 2; @A29 G<;<164 12 C<942;12 822? 5<42? 6; 678<:2;12 6;3
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