) ) ./ /,:+=-2;H =7. =0;
72+5<;>/:B/3-273; /,:+=-2;+75/3<=71 9942:26;2@ 6;D26@2 GB? ;A@
551/6/37/; #6A 12: !.B3 5?2? ;2B2; ,.@05:.@056;2 5./2; (62 @605 3R? 26; :<12?;2@ >B.96A.A6C 5<05D2?A642@ .B@5.9A@42?PA 2;A@056212; 5?2 ,.@05:.@056;2 G2605;2A @605 1B?05 26;2; @=.?@.:2; +2?/?.B05 .; ;2?462 ,.@@2? B;1 ,.@05:6AA29 .B@ 212 ,.@05:.@056;2 162 B;@2? ,2?8 C2?9P@@A D6?1 @
37?/3;/ B=: 7<;8:1=71 7<;8:1/7 ./: (/:9+-4=71 5? ;2B2@ 2?PA DB?12 .B3 12: ,24 GB 5;2; 1B?05 162 +2?=.08B;4 42@05RAGA 992 26;42@2AGA2; #.A2?6.962; @6;1 B:D29AC2?A?P49605 B;1 D6212? C2?T D2?A/.? 6AA2 52932; (62 :6A B;1 2;A@
%3-2/:2/3<;237?/3;/ 5?2 ,.@05:.@056;2 6@A /2@A6::A GB: 2/?.B05 ;B? 6: .B@5.9A GB: ,.@052; C<; :.@056;2;D.@05/.?2; )2EA6962; 6; ,.@059.B42 GB: 2A?62/ :6A 8.9A2: )?6;8D.@@2? B;1 5.;129@R/96052; ,.@05T B;1 &39242:6AA29; 162 3R? 12; 6;@.AG 6; ,.@05:.@056;2; 42264;2A @6;1 ".@@2; (62 !6;12? ;605A B;/2.B3@605A64A /26 12? ,.@05:.@056;2 .9A2; (62 .B@A62?2 C<; 12? ,.@05:.@056;2 32?; $2AG@A2082? ;605A :6A 32B05A2; P;12; 26;T @A2082; .B@ 12? (A2081<@2 G6252; $2AG@A2082? ;B? .
'6?/5<;-2= 5/-4/7 DP592; B?05 162 C2?9P;42?A2 ,.@05G26A /26 162@2: ° T&?<4?.
+; 3;< 2:/ )+;-26+;-237/ "$4&+@ ).(*(/,55(. (,0)?..(0 *66.: (*;,162<<.5 /I: '8:?G;,1. 8-.: $))0(0 60' 4&+.,(<(0 "$4&+.$6*( $%.$44(0 )$..
/.3/70/5. 0:(,*(.$/2(0 .(6&+5(0 )(35,* ?.77 ":80:*66 *+0.5*=/.7 $-5,7 ?.77 0.-:I,4< %(3(,5 ?.77 ":80:*66 0.?G15< 7B.20.5*69.7 +5274.7 .<:2.+;;
(8: ./6 /:;
)D;-2/ >8:,/:/3
)D;-2/ ;8:<3/:/7 7+-2 +:,/ -2<=71 ,P@052 8.;; C2?3P?/2; $2B2 /B;A2 ,P@052 ;605A :6A .;12?2? ,P@052 GB@.::2; D.@052; ,26O2 ,P@052 8.;; 4?.B D2?12; ,26O2 B;1 3.?/642 ,P@052 42A?2;;A D.@052; 7+-2 (/:H ;-26=/:;-26=
;<+:4 >/:;-26=
)D;-2/ /375/1/7 @958;387;1/0+2: #6A 9Q@B;4@:6AA295.9A642; '26;64B;4@:6AA29; G 92082;2;A32?;2? ,.@05/2;G6; C
)+;-2H =7. #05/1/63<
)+;-2H #05/1/H 63<
#:81:+66/ =7. =74<387/7 :=7.9:81:+66/ ,P592; (62 1.@ 42DR;@05A2 &?<4?.:: .B@ @6252 .B05 162 @2=.?.A2 &?<4?.::R/2?@605A 8-2?D;-2/ G° ;2?4626;A2;@6C2@ &?<4?.:: 3R? 8<0532@A2 )2EA6962; G S .B@ .B:D<992 <12? "26;2; -B: (05BAG 12? /D.@@2?926AB;42; D6?1 162 526O2 ,.@059.B42 C 5/-4/7 R? 39208642 C2?@05:BAGA2 )2EA6962; G S .B@ .B:T D<992 <12? "26;2; ;2?462@=.?=?<4?.:: B?05 162 C2?9P;42?A2 ,.
/37 ° R? 2:=36;196052 D.@05/.?2 )2EA6962; G S .B@ (2612 (.A6; (F;A52A68 <12? #6@0542D2/2 G S .?16;2; 26;D.@054.;4 /26 I 3R? 5.;1T B;1 :.@056;2;T D.@05/.?2 (2612 ,6? 2:=32592; 162 )2EA6962; ;605A :6A .;12?2; ?.B2?2; )2EA6962; GB@.::2; GB D.@052; R? @25? 2:=36;196052 )2EA6962; .B@ (2612 8.;; R/2? 162 ).@A2 1B?05 -26AC2?8R?GB;4 26;2 ;<05 @.;3A2?2 25.;19B;4 2?G629A D2?12; !26; (0592B12?; GD6@052; 12; (=R94P;42; #.E6:.92 (0592B12?1?25G.59 * :6; )855/ 4+5< ° R? 5.;1T B;1 :.
%-25/=./:.:/2H B+25?D25/: :=7.;
*=;+
)+;-2/7 ,.@@2?5.5; Q33;2; &?<4?.::DP592? .B3 42DR;@05A2@ &?<4?.:: @A2992; @6252 .B05 @2=.?.A2 &?<4?.::R/2?@605A ;G26429.:=2 ,/:/3< 92B05A2A /3;93/5 2DR;@05A2 (0592B12?1?25G.59 <12? DP592; 26 21.?3 ).@A2 ; 3R? -B@.
).@A2 1?R082; ;G26429.:=2 +4<3> 92B05A2A &?<4?.:: @A.?A2A i ;G26429.:=2 +4<3> 92B05A2A DP5?2;1 12@ 42@.:A2; &?<4?.::./9.B3@ #:81:+66+,5+=0 D7./:7 ,2;; (62 .B@ +2?@252; 26; 3.9@052@ &?<4?.:: 42DP59A 5./2; &?<4?.::DP592? .B3 =; @A2992; &?<4?.::DP592? .B3 ;2B42DP59A2@ &?<4?.:: @A2992; ;G26429.:=2 ,/:/3< 92B05A2A ).@A2 1?R082; ;G26429.:=2 +4<3> 92B05A2A ;2B2@ &?<4?.:: 9PB3A #:81:+66 +,,:/-2/7 ,2;; (62 26; &?<4?.:: C
!+-2 ,5+=0 ./; #:81:+66; ;G26429.:=2 0/:<31 92B05A2A &?<4?.::DP592? .B3 =; @A2992; B;1 D2;; 42DR;@05A -B@.AG=?<4?.:: ,9=69/7 %-25/=./:7 <12? %9F5/7 DP592; ).@A2 1?R082; $.05 /9.B3 12@ -B@.AG=?<4?.::@ &?<4?.::DP592? .B3 =; @A2992; )D;-2/ /7<7/26/7 ,.@@2?5.5; @05962O2; 6;3R9932;@A2? Q33;2; ,2;; 1.@ 6;3R9932;@A2? @605 ;605A Q33;2; 9P@@A AD. #6;BA2; D.?A2; (6052?526A@3B;8A6<; 6@A .8A6C <12? 2@ 6@A D2;; (62 42DP59A 5.AA2; ;<05 ,.@@2? 6; 12? ,.@05:.@056;2 &?<4?.
/;87./:/ 7?/7.=71/7 37?/3-2/7 ,P@052 4926052? .?/2 26;9242; 6;D2605:6AA29 ;.05 ;4./2; 12@ 2?@A2992?@ 6; !.::2? 26;3R992; &?<4?.::DP592? .B3 =7
D:,/7 $B? P?/2:6AA29 C2?D2;12; 162 B:D29AC2?A?P49605 B;1 3R? 12; 6;@.AG 6; ,.@05:.@056;2; 42264;2A @6;1 -2<=71 +2?3P?/2; 12? ,P@052 /26 ;.053<942;12; ,.@05T 4P;42; 8.;; 12;;<05 ;605A 4.;G .B@42@059<@@2; D2?12; P?/2:6AA29 ;.05 ;4./2; 12@ 2?@A2992?@ .;D2;12; !+-2 ./6 D:,/7 AD. J #2@@/2052? ,.@05:6AA29 6; !.::2? 42/2; %5;2 ,P@052 6; 12? )?<::29 1.@ &?<4?.:: 8-2?D;-2/ ° ./9.B32; 9.@@2; #.;@052AA2 .B@D6@052; 7<0D:,/7 -2<=71 ;A3P?/2:6AA29 8Q;;2; @05D2329T <12? 059
$/3731/7 =7. #05/1/7 %<:86;-25+11/0+2: )?2;;2; (62 4?B;1@PAG9605 1.@ 2?PA GB2?@A C<: (A?<:;2AG $62:.9@ 162 ,.@05:.@056;2 :6A 26;2: ,.@@2?@A?.59 ?26;642; @958;387;1/0+2: $62:.9@ "Q@B;4@:6AA29 GB: '26;642; C2?D2;12; /2D=;/ =7. /.3/7,5/7./ :/3731/7 )D;-2/<:866/5 :/3731/7 26 21.?3 AD.@ (2632;9.B42 <12? 26; :6912@ ;605A @052B2?;12@ '26;64B;4@:6AA29 C2?D2;12; #6A 26;2: D26052; )B05 A?<082;?26/2; ,2;; '<@A392082; 1B?05 96242; 42/962/2;2 #2A.99A2692 G #R;G2; R?<89.::2?; $.
)+;-263<
+=1/79=69/ :/3731/7 ,2;; 162 ,.@059.B42 ;605A C<99@AP;164 ./42=B:=A D6?1 ?2:18Q?=2? /9<0862?2; 162 ".B42;=B:=2 <12? @A.?8 39B@2;12 ,P@052 DB?12 42D.@052; )+;-25+=1/ +,5+;;/7 i /6@ GB 9 42264;2A2@ 23PO /2?26A@A2992; (/:,:F2=71;1/0+2: 26O2 ,.@059.B42 GBC8:;3-2<31 ;B? @< D26A .B31?252; /6@ 162 ,.@059.B42 6; 162 /120889.==2 ./GB9.
%3/,/ 36 )+;;/:H B=5+=0 :/3731/7 )+;;/:.:=-4 36 *=5+=0;-25+=-2 +,,+=/7 ,2;; 826; <12? ;605A 42;R42;1 ,.@@2? 6; 162 ,.@05:.@056;2 26;9PB3A ,.@@2?5.5; @05962O2; &?<4?.::DP592? .B3 /2962/642@ &?<4?.:: .BO2? %-25/=./:7 ,9=69/7 @A2992; ).@A2 1?R082; &?<4?.:: 0. (28B;12; 9.B32; 9.@@2; &?<4?.::DP592? .B3 =; @A2992; %3/, +6 )+;;/:2+27 :/3731/7 (059.B05 C<: ,.@@2?5.5; ./;25:2; (62/ B;A2? 3962O2;12: ,.@@2? .B@@=R92; (059.B05 .;@05962O2; %3/, +7 ./: )+;-26+;-237/ :/3731/7 (059.
350/ ,/3 45/37/7 %360* 27/I55/.7;<.: 5G;;< ;2,1 72,1< H//7.7 34$&+( 0.?G15< $2,1.:1.2<;/=74<287 *4<2> (*;,162<<.5:.
5>360* 34$&+( %+,.)( ":I/.7 8+ (G;,1.;.:;<89/< $2.+. :.2720.7 ;2.1. $.2<.
5>360* 34$&+( %+,.)( $,15.=-.:.:0.+72; 0 72,1< B=/:2.-.7;<.55.7- /2 55 - %*;<. 0.-:I,4< 6*@26*5. $,15.=-.:-:.1B*15 & 27 .1:6*520.; 7;,15.=-.:7 .27 .15.: &7?=,1<487<:855;A;<.6 >.:;=,1< &7?=,1< -=:,1 6.1:6*520.; 7;,15.=-.:7 *=;B=05.2,1.7 ":80:*66*+5*=/ 5G70.: *5; I+52,1 .27 .15.: &7?=,1<487<:855;A;<.6 >.:;=,1< &7?=,1< -=:,1 6.1:6*520.; 7;,15.=-.:7 *=;B=05.2,1.7 66.: 0:8F. 60' 45.27. %.25. B=;*66.7 ?*;,1.7 $,1*=6.:4.77=70 1*< B=;G
=7./7.3/7;< 2C
(/:,:+=-2;?/:8: -.6 +9=69.7 62< ,* 2<.:7 4*5<.6 (*;;.: 0.62;,1< 40 4(1 5 627 40 4(1 5 627 40 4(1 5 627 40 4(1 5 627 6058=4&+( ).(*(.(,&+5 (,0 "1..
=0;
7 ./: +;-237/7:F-4;/3
=0;
&:+7;98:
&:+7;98:<;3-2/:=71/7 +=0,/?+2:/7 )?.;@=
)+;;/:+7;-25=;; )+;;/:B=5+=0 -2<=71 ,.@05:.@056;2 ;B? :6A 8.9A2: )?6;8D.@@2? /2T A?26/2; $605A .; #6@05/.AA2?62 26;2@ 1?B089<@2; 26OD.@@2?.B3/2?26A2?@ .;@05962O2; ; -D26329@3P992; C<: .05:.;; .;@05962O2; 9.@@2; ,.@@2?GB9.B3@059.B05 ;605A 8;6082; <12? >B2A@052; C2?P;12?; <12? 1B?05@05;2612; 2@A64826A 6@A ;605A :25? 42DP5?926@A2A !B;@A@A<33C2?@05?.B/B;42; ;B? C<; .;1 .;G6252; (62/2 6: ,.@@2?GB9.B3@059.B05 ;605A 52?.B@;25:2; ,.@@2?1?B08 6: "26AB;4@;2AG /2.05A2; 2? ,.
)+;;/:+,5+=0 -2<=71 /9.B3@059.B05 ;605A 8;6082; <12? 6; 162 "P;42 G6252; Q52;B;A2?@05621 GD6@052; B3@A29939P052 B;1 /39B@@ 5Q05@A2;@ 0: ,5+=0 37 /37/7 %39287 ,5+=0 37 /37 )+;-2,/-4/7 ;@059B@@T(A2992 :6A (059.B05@052992 M :: .055.;129 @6052?; -2<=71 +2?@059B@@T(AQ=@29 1.?3 12; /39B@@ 12@ ,.@05/28T 82;@ ;605A C2?@05962O2; /9.B3@059.B05 4242; 2?.B@?BA@052; @6052?; 26: /=B:=2; =?R32;
5/4<:3;-2/: 7;-25=;; -2<=71 ;@059B@@ 12? ,.@05:.@056;2 ;B? .; ,205@29T @A?<: R/2? CB2?@05;6AA .B@?2605A 1.@ ?1B;4@@F@A2: C
&:+7;98:<3/:/7 2C8:,/:/3
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