!)9) 8<- +6+15)9 :-) ;)5 ,1=-9;1,6 +646+64-9 :3/ 3AB3 ;/=2@P />@=D316/@ B=2/A :/A D3/1B= ;71@==<2/A < 3AB3 ;/@=>=@17==@B//@/ AC A35C@72/2 =<=13@P :/A 27AB773H/A 23 AC /@/B= )3 :3 7<271/ >/A= / >/A= 1=;= 2303 @3/:7H/@ :=A /8CAB3A A ;CG 4P17: < :/A B/0:/A >=2@P 1=/@/ >@3>/@/@ :=A >:/B=A ;PA 6/07BC/:3A *=2=A 3::=A 6/< A72= >@=0/2=A 3<
65;-51,6 "/@/ 3: CA= 23: ;71@==<2/A /CA/A 23 :=A 2/T=A $< 5<-=6 )7)9);6 : >/<3: 23 ;/<2=A
65;-51,6 3 41+9665,): (317>73@=5@/;/ ,/@7=A <7D3:3A 23 >=B3<17/ 1=@=5@/;/ : 6=@<= A3 23A1=<31B/ /CB=;PB71/;3
65;-51,6 2<:;-: *D:1+6: AS A3 >@=5@/;/ $-/<96 7)9) 51G6: #-362 )=1:),69 ;14-9 AS A3 >@=5@/;/ -:+65->1H5 )<;64D;1+) <;631471-@) )<;64D;1+) AS
65;-51,6 %)*3): ? :@P1B71=A >/@/ CA/@ 3: ;71@==<2/A /@<3 /D3A >3A1/2= =@P1B71=A >/@/ 3: /A/2= 1==AB3@S/ )C53@3<17/A G 1=@P1B71=A >
"C323 ;/<38/@ 3: />/@/B= 23 4=@;/ 1=@@31B/ G A35C@/ =/@/B= / =B@/ >3@A=/@/B= G 23A6P5/A3 23: 3;0/:/83 23 ;/<3@/ @3A>3BC=A/ 1=< 3: ;327= /;073/@/B= 1C;>:3 1=< :/ 7@31B7D/ 3C@=>3/ A=0@3 />/@/B=A 3:R1B@71=A
1G6: ? 41+9665,): 6956 +)31-5;- "=A <7T=A AU:= 2303< >@3>/@/@ >=@ AS ;7A;= /:7;3@3<272= 1U;= 6/13@:= 303< >=23@ ;/<38/@ 3: />/@/B= 1=@@31B/;33:75@=A ?C3 />/@313< 3< 3: ;//@/B= 3< >@3A3<17/ 23 /2C:B=A J&3:75@= 23 ?C3;/2C@/A 0@7@ 1=< 1C72/2= :/ >C3@B/ 23: 6=@<= &C323 A/:7@ D/>=@ 1/:733@47173A 23 :=A />/@/B=A 1
#-7)9)+165-: "/A @3>/@/17=<3A 73:75@=A/A J&3:75@= 23 23A1/@5/ 3:R1B@71/ )U:= :=A BR1<71=A 7=@ <=A=B@=A 3ABP< /CB=@7H/2= / @3/:7H/@ :/A @3>/@/17=<3A )7 3: />/@/B= 3ABP 23431BC=A= 23A1=<31B3 3: 4CA70:3 3< :/ 1/8/ 23 4CA70:3A = 3FB@/75/ 3: 3<16C43 D7A/@ /: A3@D717= 23 /A7AB3<17/ BR1<71/ $= /0@7@ /@/B= : />/@/B= 4C<17=C323< 7<4:/;/@A3 2C@/
"/ D/87::/ 23 >=@13:/C323 >@3A3/23@/A AB=A =@74717=A =1C:B/< 6C31=A "/ >=A70:3 6C;32/2 ?C3 6/G/ >3<3B@/2= 3< 3: 6C31= >C323 6/13@ 3AB/::/@ :/ D/87::/ J&3:75@= 23 :3A7=<3A "/A 1=;72/A 1/:373C323 ?C3;/@ J&3:75@= 23 ?C3;/2C@/A FB@/3@ A73;>@3 :=A >:/B=A G /113A=@7=A 23: />/@/B= 1=< C< /5/@@/2=@ 5=):-: $= 1/:3
$= 1/:373/2=A J&3:75@= 23 3F>:=A7U< $= 1/:33@/BC@/A 23;/A7/2= 3:3D/2/A J&3:75@= 23 3F>:=A7U< 314-5;6: 7)9) *-*E: 314-5;6: +65 +D:+)9) 6 71-3 $= 1/:3/@/ 030RA 3< @317>73@3 :/ B/>/ = :/ B3B73@/BC@/ /
)<:): ,- 36: ,)G6: )5,-2) ,-3 06956 6 7)7-3 ,- )3<41516 :6*9- 3) 7)9;15.-9169 ,-3 06956 $= 1=:=?C3 0/<238/A A=0@3 :/ >/@B3 7<43@7=@ 23: 6=@<= $= :/ 1C0@/ 23 >/>3: 23 /:C;7<7= )3 1@3/ C=A 23 1=117U< G /A/2= 238/< 23 1=7<1727@ G 3: 3A;/:B3 A3 3AB@=>3/ /<) -5 -3 06956 $C<1/ D73@B/ /5C/ 3< 3: 6=@<= 1/:73
$< 5<-=6 )7)9);6 ?CS 1=<=13@P / AC /@/B= "3 3F>:71/@3;=A :/A 4C<17=<3A 23: >/<3: 23 ;/<2= 1=< :=A 7B=@3A 3 7<271/2=@3A %0B3<2@P 7<4=@;/17U< A=0@3 :=A B7>=A 23 1/:3/T/< /: />/@/B= 3 7)5-3 ,- 4)5,6: *31:/A >/@/ :/ >=B3<17/ 23: ;71@==<2/A %-+3): 7)9) 3) 76;-5+1) ,-3 41+9665,): #/<2= 57@/B=@7= )3:3117U< 23 4C<17=<3A *31:/A 23 4C<17U< =< 3AB/A B31:/A >C323 /8CAB/@ 3< AC ;71@==<2/A :/ >=B3<17/ 23A3/2/ - =.?. 12@0<;429.? .96:2;A<@ 12960.
$-3-+;69 ,.<5+165-: =< 3: A3:31B=@ 23 4C<17=<3A /8CAB/@P 3: B7>= 23 4C<17=3@/BC@/ G 3: I 8CAB3 7<27D72C/: >/@/ 3: >@=5@/;/ /CB=;PB71= : 57@/@ 3: A3:31B=@ 23 4C<17=<3A 6/17/ / :/ 23@316/ />/@313< :=A B7>=A 23 1/:3@=5@/;/A < 3: 27A>:/G D3@P 3: B7>= 23 1/:33@/BC@/ = <7D3: 1=;= D/:=@ @31=;3<2/2= P #<1< 12 3B;06<;.:62;A< #.?42; 12 A2:=2?.AB?. ;6C292@ .9
)5,6 /19);6916 - + =< 3: ;/<2= 57@/B=@7= /8CAB/@P :/ 6=@/ :/ 2C@/17U< :/ 6=@/ 23 47=B3<17/ >/@/ 3: >@=5@/;/ /CB=;PB71= #O?42;2@ @W 5 @W 5 B?.06T; 129 :60?<<;1.@ D02=06T; - @ W :6; &2@< @W B?.06T; 0609< 0<006T; @24U; =?<4?.:. 5 *62:=< 129 ?29<7 .C6@.1
: 7<271/2=@ 23 B3FB= :3 5C7/@P >=@ 3: >@=13A= 23 /8CAB3 "3 ;C3AB@/ 3: ;=2= 23 4C<17=3@/BC@/ = 3: <7D3: "3 ;C3AB@/ :=A >:/B=A 23: >@=5@/;/ /CB=;PB71= G :3 2/ 1=/@/ :/ >@=5@/;/17U< &C323 D3@ 3: 7<271/2=@ 23 B3FB= 3< D/@7/A 727=;/A : 1=3@/BC@/ : /A/@ /: 5@7:: 1=< 3: >@=5@/;/ /CB=;PB71= G 1=< :/ /CB=:7;>73H/ /CB=;PB71/ <= />/@313 3: 1=:/G )5,6: /19);6916: 9-;9D+;13-: )3 >C323 3<1/8/@ :=A ;/<2=
)369 *H=-,) ? :63-9) : 1/:=@ ::35/ 23 /@@70/ G 23 /0/8= B//AB3: 1=;= C< /A/2= "/ 0/<238/ C<7D3@A/: 3A :/ =>17U< 1=< :/ ?C3 ;38=@ ?C32/< :=A 07H1=16=A 47<=A 3< ;=:23 :/A B=@B/A 23 07H1=16= G :=A >/AB3:3A : 1/:=@ 0UD32/ G A=:3@/ @3AC:B/ B/;07R< />@=>7/2= >/@/ >73H/A 23 /A/2= 23 ;3<=@ B/;/T= 23 1/@<3 23 D/1/ B3@<3@/ G 1/H/ )369 15;-5:1=6 3072= /: 4C3@B3 1/:=@ >@=1323/@B3 7<43@7=@ :/A >/AB/A /2?C73@3< C317/:;3@3D7/;3
19- +)31-5;- +< D3:/1/ >=AB3@7=@ 27AB@70CG3 3: 1/:=@ 3< 3: 6=@<= >@=>=@17=C323< 6=@<3/@ >/AB3:3A G >/AB7B/A / 2=A <7D3:3A "/A B3;>3@/BC@/A 23 6=@<= @3?C3@72/A A=< 7<43@7=@3A / :/A 23 1/:=@ 0UD32/ G A=:3@/ A >=A70:3 /2?C7@7@ 0/<238/A /2717=317/:7H/2= )369 :63-9) : 1/:=@ A=:3@/ :3 >3@;7B3 1/:3:/B=A >=@ 230/8= A7;7A;= B/;07R< 3A /
9133 ,- :<7-9.1+1- )4731) )3 1/:733@47173 >=@ 230/8= 23 :/ @3A7AB3<17/ 23: 5@7:: )3 >C323< /A/@ /: 5@7:: D/@7=A 07AB31A A/:16716/A >3A1/2=A = 6/13@ B=AB/2/A :)9 ) .
1+96 64*15),6 :<)=&/@/ :/ 4C<17U< 23 6=@<= 3: ;71@==<2/A A3 /1B7D/ /CB=;PB71/;3:/B=A / 0/A3 23 /D3 >3A1/2=
)5,-2) <51=-9:)3 ( & >/@/ 5@/<23A /A/2=A >/AB3:3A A31=A G 8C5=A=A G 5@/B7@=B3117U< 1=71/2C@/A 1C/<2= A3 /A/ :/ 1/@<3 /: 5@7:: 27@31B/;3/@@7::/ &/@/ 3::= 7/@B3 23: 23A<7D3: 3< 27@3117U< / :/ >C3@B/ 23: 6=@<= )5,-2) ,- =1,916 ( >/@/ 5@/<23A /A/2=A 8C5=A=A >/AB3:3A G 5@/B7@=B3117U< 1=71/2C@/A A7 A3 /A/ 1/@<3 27@31B/;3
'-5;13),69 : 6=@<= 3ABP 3?C7>/2= 1=< C< D3/ >=@ 3<17;/ 23 :/ >C3@B/ : 6=@<= A3 ;/SBC:= 3<1==@ >@7;3@/ D3H /:37/@ :=A /113A=@7=A "33@
$-3-++165- -3 1,164) 7)9) -3 15,1+),69 ,- ;->;6 6,1.
3 41+9665,): &C323 CB7:7H/@ V<71/;3= 23 1/:373=2@P 1=@=5@/;/@ 3: ;71@==<2/A %)*3): ? :SBC:= */0:/A G AC53@3<17/A 3<1=:=A 23 1U;= 23A1=<53:/@ 1/:373=@13:/:PAB71= @3A7AB33@/BC@/
73/@/B= 2C@/=B3<17/ ;PF7;/ =;>@C303 1=3@/BC@/ : @317>73:/2= )7 A3 1/:73/A <= 3A /231C/2= >/@/ 3: ;71@==<2/A :F :- 796/9)4) "/ >=B3<17/ 23 ;71@==<2/A 23 - AU:= A3 >=2@P /8CAB/@ >/@/ C< ;PF7;= 23 ;7=B3<17/ A3 >=2@P< /8CAB/@ >@=5@/;/A 23 6/AB/ ;7:= #71@==<2/A / W- ;7=B3<17/
3 ;1-476 0) ;9)5:+<991,6 )C3/@313 I 7C3@B/ 23: 6=@<= = >C:A/ :/ B31:/ 23 >/@/2/ A3 DC3:D3 / ;=AB@/@ :/ 6=@/ 3< :/ 7<271/17U< D7AC/: 6,1.
6;) )7 /AS := 23A3/ >C323 >@=5@/;/@ C< <7D3: 23 >=B3<17/ 2=A D313A >=@ 38 - X - X - "/ >=B3<17/ 23 - AU:= A3 >C323 A3:3117=C:A/2/ :/ B31:/ 23 >C3AB/ 3< ;/@16/ G/ <= A3 >=2@P ;=27471/@ :/ 2C@/17U< 23 171:= 23 1=117U< >@=5@/;/2/ !96/9)4)+1H5 ,-3 06956 F7AB3< 2743@3=A707:72/23A >/@/ >@=5@/;/@ 3: 6=@<= 7)/)9 -3 06956 4)5<)34-5;- C/<2= 3: >:/B= 3ABR B3@;71H5 )<;64D;1+) ,-3 06956 &C323 7@A3 23 :/ 1=17
$'* 7. / +'$ $'* 7. / +'$ * $'* 7. / +'$ &/A/@ / :/ A35C<2/ :S<3/ 1=< 3: 0=BU< &@=5@/;/@ :/ B3;>3@/BC@/ = 3: <7D3: 23 >=B3<17/ 23A3/2= 1=< 3: A3:31B=@ 23 4C<17=<3A &C:A/@ :/ B31:/ 23 >C3AB/ 3< ;/@16/ -:+65->1H5 +@3>/@/17U< 23: >:/B= 23A3/2= >C:A/@ 2=A D313A :/ B31:/ 23 >/@/2/ = /0@7@ :/ >C3@B/ 23: 6=@<= G >C:A/@ :/ B31:/ 23 >/@/2/ C/5/ 6,1.
5;-99<4719 0@7@ :/ >C3@B/ 23: 6=@<= &C323 @3/C3@B/ 23: 6=@<= G DC3:D/ / >C:A/@ :/ B31:/ 23 >C3AB/ 3< ;/@16/ : >@=5@/;/ 1=C:A/@ C3AB/ 3< ;/@16/ A3 3A1C16/@P C/@313 I&C:A/@ B31:/ 7<717= 699)9 -3 )2<:;- &C:A/@ :/ B31:/ 23 >/@/2/ 2=A D313A = /0@7@ :/ >C3@B/ 23: 6=@<= G >C:A/@ :/ B31:/ 23 >/@/2/ C/5/
&C:A/@ :/ B31:/ 23 >C3AB/ 3< ;/@16/ < :/ 7<271/17U< D7AC/: A3 ;C3AB@/ 3: B@/= A3:3117=/@313 I 7C3@B/ 23: 6=@<= = >C:A/ :/ B31:/ 23 >/@/2/ A3 DC3:D3 / ;=AB@/@ :/ 6=@/ 3< :/ 7<271/17U< D7AC/: 6,1.
3 06956 :- +65-+;) ? :- ,-:+65-+;) )<;64D;1+)4-5; 83;>:= )=< :/A W6=@/A : >:/B= B/@2/ W;73@31323@=A <= A3 >C323< 5C/@2/@ 2C@/= 3< 3: 6=@<= &@=5@/;3 1=;= A3 23A1@703 3< :=A >C=<3@ 3< ;/@16/ 3: 6=@<= &C:A/@ 3: 0=BU< @3:=8 6/AB/ ?C3 />/@3H1/ I 8CAB/@ 47< 171:= 1=1 3< :/ 7<271/17U< D7AC/: < :/ 7<271/17U< D7AC/: >/@>/23/ 3: AS;0=:= 23: 47
3 ;1-476 0) ;9)5:+<991,6 )C3/@313 I 7/@313@ A7 >C:A/ :/ B31:/ 23 >/@/2/ 699)9 -3 )2<:;- &C:A/@ :/ B31:/ 23 >/@/2/ C/@>/23/<2= 3A >=A70:3 3431BC/@ ;=27471/17=<3A C/<2= 3: AS;0=:= 3ABP 7:C;7:71/2= 3: /8CAB3 C323 1== 23 47
3 +)3-5;)41-5;6 9D71,6 0) .
%176: ,- +)3-5;)41-5;6 ),-+<),6: /:=@ 0UD32/ G A=:3@/ 7@3 1/:73 @32C172/ @7:: 23 AC> /;>:7/ :F :- 796/9)4) 83;>:= #71@==<2/A - ;7=B3<17/ 23A3/2/ &@=5@/;/@ :/ 2C@/17U< 23 171:= 23 1=117U< 23A3/2/ 1=< 3: ;/<2= 57@/B=@7= *!$$ !* $! &, 7@/@ / :/ 23@316/ 3: A3:31B=@ 23 4C<17=<3A 6/AB/ ?C3 />/@3H1/ 3: B7>= 23 1/:3
*!$$ !* $!& , *!$$ !* $! &, &/A/@ / :/ A35C<2/ :S<3/ 1=< :/ B31:/ &@=5@/;/@ :/ B3;>3@/BC@/ = 3: 3A1/:U< 23 >=B3<17/ 23A3/2= 1=< 3: A3:31B=@ 23 4C<17=<3A &C:A/@ :/ B31:/ 23 >C3AB/ 3< ;/@16/ < :/ 7<271/17U< D7AC/: A3 D7AC/:7H/ 3: B@/= A3:3117=/@313 I 7C3@B/ 23: 6=@<= = >C:A3 :/ B31:/ 23 >/@/2/ 6,1.
5;-99<4719 0@7@ :/ >C3@B/ 23: 6=@<= : ;71@==<2/A 73 3: >@=5@/;/ &C323 @3//@B7;3C:A/@ 23 C3AB/ 3< ;/@16/ : >@=5@/;/ 1=C:A/@ C3AB/ 3< ;/@16/ A3 3A1C16/@P C/@313 I&C:A/@ B31:/ 7<717= 699)9 -3 )2<:;- &C:A/@ :/ B31:/ 23 >/@/2/ 2=A D313A = /0@7@ :/ >C3@B/ 23: 6=@<= G >C:A/@ :/ B31:/ 23 >/@/2/ C
!96/9)4) )<;64D;1+6 :F :- 796/9)4) 83;>:= /@<3 >71/2/ 1=<53:/2/ =< 3: >@=5@/;/ /CB=;PB71= >C323 23A1=<53:/@ /:7;3@3>/@/@ ;C16=A >:/B=A @P>72/;3@=0:3;/A &/@/ 3: >@=5@/;/ /CB=;PB71= 6/G 5@C>=A 23 >@=5@/;/A 1=< C< B=B/: 23 >@=5@/;/A 5 + '& $ * & '& $ ' *& (! '& $ 7@3 3: A3:31B=@ 23 4C<17=<3A 6/17/ :/ 7H?C73@2/ G A3:3117=<3 C< 5@C>= 23 >@=5@/;/A &C:A3 :/ B31:/ < 3: 27A>:/G />/@313@P< 3: >@7;3@ >@=5@/;/ G 3: >3A= >@=>C3AB= =
=< 3: ;/<2= 57@/B=@7= >C323 >@=5@/;/@ 3: >3A= 23A3/2= &C:A3 :/ B31:/ 23 >C3AB/ 3< ;/@16/ < 3: 27A>:/G />/@313 3: B@/= 23 1=117U< 3 ;1-476 0) ;9)5:+<991,6 )C3:/G />/@313 I 7:/G />/@313@P I =@<= 3<4@7/<2=A3 0@/ :/ >C3@B/ 23: 6=@<= = >C:A3 :/ B31:/ )B=> 2<:;- 15,1=1,<)3 ,-3 9-:<3;),6 ,- 3) +6++1H5 )7 :/ 1=117U< <= 3A 23 AC /5@/2= >C323 ;=27471/@ 3: /8CAB3 &@=5
!)9)9 0@7@ :/ >C3@B/ 23: 6=@<= &C323 @3/C3@B/ DC3:D/ / >C:A/@ :/ B31:/ 23 >C3AB/ 3< ;/@16/ ,C3:D3 / 3AB/@ 3< 4C<17=C:A/@ :/ B31:/ 23 >C3AB/ 3< ;/@16/ =7@P C:/G />/@313@P I&C:A/@ B31:/ 7<717= 699)9 &C:A3 2=A D313A A35C72/A :/ B31:/ )B=> = /0@/ :/ >C3@B/ 23: 6=@<= G >C:A3 :/ B31:/ )B=> AU:= C
1=3A= 1=@@3A>=<273=A70:3 >@=5@/;/@ >3A=A <= 7<1:C72=A 233A= =< ;C16=A B7>=A 23 1=;72/ =7@P C= R :/ DC3:B/ = @3;C3D/ 3: /:7;3=A70:3 3< >=A717U< 6=@7H=/@B72=A 3< >=@17=<3A G / K =:=1/@ 3: /:7;373:/<= >
)7 3A C< >3A1/2= 3/>3: 23 /:C;7<7= 3< :=A 47:3B3A 23 >3A1/2= A3 B/>/< :=A 0=@23A G A7 A=< @=2/8/A 5@C3A/A 1=< 3A>7=@ 1/2/ 5 ,3@2C@/A 1=<53:/2/A A=< /231C/2/A AU:= :/A D3@2C@/A 3A1/:2/2/A <= >@31=17=@ 1/2/ 5 < 3A>7
@=A 23 1/:/;/@3A 3;>//@/ AC >@3>/@/17U< 3< 3: 6=@<= =-: =:=1/@ 3: >=::= 3< 3: @317>73316C5/ 6/17/ /0/8= =:=1/@ :=A B@=H=A 23 >=::= 3< 3: @317>73/@B3 23 :/ 1/@<3 6/17/ /@@70/ =17316C5/ 23 >/D= A7< >73: T/27@ 3316C5/ 23 >/D= *@/A 2/@ :/ DC3:B/ /T/27@ = ;: 23 :S?C72= ;PA A7 3A <313A/@7= )95- =17@7;3@= 1=< 3: :/2= 5@/A73
$ ,' &.A.A.@ ! %(' * ('+' .=?B2 @2 5.E. 12@=?2;161< 2?2.92@ . :6;BA<@ &205B4. 12 =.C< :6;BA<@ (<.@A/223 .@.1< 12 /B2E .@.1< 12 A2?;2?. =62?;. 12 0
*-(' (*' * % + *' * % $!% &,'+ - '+ (<1.7. 12 =2@0.1< 0<;429.1. (<1.7. 12 /.0.9.< 2@AB?6T; ./.127< @.9:T; )2R.9 =.?. 1.?92 9. CB29A. A?.;@0B??61. .=?
*-(' (*' * % + *' * % $!% &,'+ - '+ &, *. $' ( +' & # !(! &, +'*!'+ $,-* !&+ * !7& + ' &2@0.1<@ 2;A2?<@ 3?2@0<@ *?B05. 0./.99. 9B06< W (206=62;A2 5<;1< 0<; A.=. =.??699. .9A 692A2 12 =2@0.1< 3?2@0< 692A2 12 2@AB?6T; /.0.9.< 4.996;2A. ;T?160. 0.?/<;2?< 9B06< W (206=62;A2 5<;1< 0<; A.=. =.??699. .9A W .;127. B;6C2?@.9 .9AB?. W (206=62;A2 5<;1< 0<; A.=. =.??699. .9A .9.:.?2@ ?2/
*-(' (*' * % + *' * % $!% &,'+ - '+ &, *. $' ( +' & # !(! &, +'*!'+ $,-* !&+ * !7& *' - ,' ( * * ,!& * '& $ ' ".@.R. <9
-4691) @/17/A / :/ 4C<17U< 23 ;3;=@7/ >C323 1@3/@ AC >@=>7= >@=5@/;/ &C323 /:;/13/@/ A37A >:/B=A G D=:D3@ / 0CA1/@:=A 1C/<2= := 23A33 "/ 4C<17U< 23 ;3;=@7/ 3A 3A>317/:;3/@/ :/ >@3>/@/17U< 23 C< >:/B= = A7 >@3>/@/ C< >:/B= 3< 3A>317/: ;CG / ;3C323 /:;/13:/B= 23 :=A >@=5@/;/A /CB=;PB71=A <)9,)9 36: )2<:;-: -5 3) 4-4691) 83;>:= &=A717U< 23 ;3;=@7/ - ;7
&@=5@/;/@ 1=< 3: ;/<2= 57@/B=@7= :/ 2C@/17U< 23 171:= 23 1=117U< 23A3/2/ !* $! &, !* $! &, !* $! &, )3:3117== 23 1/:33@/BC@/ = 3: <7D3: 23 5@7:: 23A3/2=A 1=< 3: ;/<2= A3:31B=@ 23 4C<17=<3A
'& ! -* !7& - * &C:A/@ :/ B31:/ 23 ;3;=@7H/17U< I# < :/ 7<271/17U< D7AC/: />/@313 I =<475C@/17U< 5C/@2/2/ < :/ 7<271/17U< D7AC/: />/@313 23 =A70:3 5C/@2/@ 3 7<717/@ /: ;7A;= B73;>= &/@/ 3::= <= >C:A/@ :/ B31:/ 23 ;3;=@7/ I# A7<= :/ B31:/ 23 >C3AB/ 3< ;/@16/ */;07R< >C323 /:;/13:/B= 23 :=A >@=5@/;/A /CB=;PB71=A 6,1.
3 ;1-476 0) ;9)5:+<991,6 )C3/@313 I 7C3@B/ 23: 6=@<= = >C:A3 :/ B31:/ 23 >/@/2/ 5;-99<4719 0@7@ :/ >C3@B/ 23: 6=@<= &C323 @3/C3@B/ 23: 6=@<= G DC3:D/ / >C:A/@ :/ B31:/ 23 >C3AB/ 3< ;/@16/ : >@=5@/;/ 1=C:A/@ C3AB/ 3< ;/@16/ A3 3A1C16/@P C
69) 3A>CRA 23 :/ >@7;3@/ 1=<3F7U< / :/ @32 3:R1B@71/ = 23A>CRA 23 C< 1=@B3 23: AC;7<7AB@= 3:R1B@71= 3< :/ 7<271/17U< D7AC/: >/@>/23/< B@3A 13@=A G 3: AS;0=:= 23: @3:=8 >/@313 I 8CAB/@ 23 6=@/ :F :- 796/9)4) 83;>:= 6=@/A &@=5@/;/@ :/ 6=@/ 1=< 3: ;/<2= 57@/B=@7= &C:A/@ :/ B31:/ 23: @3:=8 "/ 6=@/ 3ABP /8CAB/2/ )4*1)9 7 -2 ,-3 069)916 ,- =-9)56 )3 ,- 15=1-956 &C:A/@ :/ B31:/ 23: @3:=8 8CAB/@ B/: 1=;= A3 23A1@703 3< :=A >C/@/B
&C:A/@ :/ B31:/ 23 ;3;=@7H/17U< I# 6/AB/ ?C3 A3 D7AC/:713 I)3:3117=@7;3@/ :S<3/ 2:/ 7<271/17U< D7AC/: 7@/@ 3: ;/<2= A3:31B=@ 23 4C<17=<3A 6/AB/ ?C3 A3 D7AC/:713 I <271/17U< @3:=8 3< :/ >@7;3@/ :S<3/ 23 :/ 7<271/17U< D7AC/: &/A/@ / :/ A35C<2/ :S<3/ 1=< :/ B31:/ G A3:3117=:/<= <1=
2<:;-: *D:1+6: : 6=@<= B73<3 2743@3/@/B= >=@ >@7;3@/ D3H 2303 /8CAB/@ 3: 727=;/ ?C3 23A33 3< 3: 27A>:/G : /8CAB3 0PA71= 3A /:3;P< &C323 ;=27471/@ B=2=A :=A /8CAB3A 0PA71=A 3< 1C/:?C73@ ;=;3
:F :- 796/9)4) 83;>:= /;07/@ 3: 727=;/ / 3A>/T=: &C323 A3:3117=C:A/2= 3: 0=BU< I# 2C@//@313@P 3< :/ >@7;3@/ :S<3/ 3: /8CAB3 0PA71= I)>@/163 /CAEQ6:3< G 3< :/ A35C<2/ :S<3/ I 3CBA16 &/A/@ / :/ A35C<2/ :S<3/ 1=< :/ B31:/ $ !'& * ! !'% +( 6'$ #=27471/@ 3: /8CAB3 23 4P0@71/ 1=< 3: ;/<2= A3:31B=@ 23 4C<17=<3A &C:A/@ :/ B31:/ 23 ;3;=@7H/17U< I# "/ ;=27471/17U< A3 6/ 5@/0/2= 6,1.
$-/<96 7)9) 51G6: &/@/ ?C3 :=A <7T=A <= 1=<31B3< 3: 6=@<= /11723/@/ <7T=A 368<-6 ,-3 06956 #/C:A/2/ :/ B31:/ )B=> 2C@/:/G />/@313 I)35C@= >/@/ <7T=A /1B *=2/A :/A 4C<17=<3A 3ABP< 0:=?C3/2/A -:)+;1=)9 -3 *368<-6 ,=:D3@ / >C:A/@ :/ B31:/ 23 >/@/2/ 2C@/C323 A35C7@ /8CAB/<2= :/ 6=@/ G 3: @3:=8 /D7A/2=@ C< 3< 1/A= 23 1=@B3 3< 3: AC;7<
#-362 )=1:),69 ;14-9 : @3:=8 /D7A/2=@ 7<1=@>=@/ :/ 4C<17U< 23 @3:=8 B3;>=@7H/2=@ 23 1=173<273317/: */;07R< A3 >C323 /8CAB/@ 3< 1=;07/@/ <7T=A :F :- 796/9)4) 83;>:= ;7/@313 I 8CAB/@ @3:=8 /D7A/2=@ 8CAB/@ 3: B73;>= 23: @3:=8 /D7A/2=@ 1=< 3: ;/<2= 57@/B=@7= &C:A/@ 3: 0=BU< 23: @3:=8 /D7A/2=@ < :/ 7<271/17U< D7AC/: A
3 ;1-476 0) ;9)5:+<991,6 )C3
<;631471-@) )<;64D;1+) =< 3AB/ 4C<17U< 3: 6=@<= A3 1/:73@=F K "=A @3AB=A 23 /A/2=A /A/2=A /: 5@7:: = 23 6=@<3/2=A A3 ?C3;/< )3 >C323 3:357@ 373H/ * ' $!%(! 0 *:-9=)+165-: ,- +)9D+;-9 /-5-9)3 -* !7& B?.06S; A
"=A @3AB=A 23 1=;72/ :/ 5@/A/ G :/ A/:A/ 23 :=A /A/2=A >C323< 7<4:/;/@A3 J&3:75@= 23 7<13<27= "7;>7/@ 3: 6=@<= G :=A /113A=@7=A ?C3 A3 23A3/< :7;>7/@ 1=< C< >/T= 6V;32= $C<1/ :7;>73 >:/1/A G ;=:23A /73H/ /CB=;PB71/ 3072= / :/A /:B/A B3;>3@/BC@/A A3 23A6/13 :/ >3:S1C:/ //@/ :/ A/:C2 "7;>7/@ :/ >C3@B/ 23: 6=@<= G :/A AC>3@47173A :/B3@/:3A 23: 6=@<= 13@1/7/@ :/A 8C
-,'$!%(! 0 $! * -,'$!%(! 0 $! * /;07/@ 3: <7D3: 23 :7;>73H/ 1=< 3: ;/<2= A3:31B=@ 23 4C<17=<3A &C:A/@ :/ B31:/ 23 >C3AB/ 3< ;/@16/ 3 ;1-476 ,- 31471-@) 0) .
) )<;631471-@) :+65-+;) ? :,-:+65-+;) )<;64D;1+)4-5; 83;>:= "/ /CB=:7;>73H/ 2303@P 47@=5@/;/@ :/ /CB=:7;>73H/ 23 ;/<3@/ ?C3 AU:= A3 @3/:713 23 <=163 3 3AB3 ;=2= 3: 6=@<= 3AB/@P 27A>=<70:3 3< 1C/:?C73@ ;=;3C/@3H1/ I 8CAB/@ 47< 171:= 1=1 3< :/ 7<271/17U< D7AC/: < :/ 7<271/17U< D7AC/: >/@>/23/ 3: AS;0=:= 23: 47/@313@P 3: B73;>= 23
3 ;1-476 ,- 31471-@) 0) .15)31@),6 &5) =-@ -3 06956 :0)?) -5.
7)9);6: +65 .965;)3 ,)+-96 156>1,)*3- :7;7=2@S/ 4=@;/@A3 1=@@=A7U< 230/8= 23 3AB/A ;/<16/A +B7:7H/@ >/@/ :/ :7;>73H/ /5C/ G C< >=1= 23 23B3@533@47173 1=< C< >/T= A31= 7)9);6: +65 .
1471-@) ,- 36: =1,916: "=A D72@7=A 23 :/ >C3@B/ 23: 6=@<= >C323< @3B7@/@A3 >/@/ C73H/ -:465;)9 B3<17U< 3: 6=@<= 2303 3AB/@ 4@S= J&3:75@= 23 ?C3;/2C@/A 0@7@ :/ >C3@B/ 23: 6=@<= 4:=8/@ :=A 2=A B=@<7::=A 23 :/ >C3@B/ 1=< C< 23AB=@<7::/2=@ /<16= 23 :/ 6=8/ 23 / ;; >/@/ B=@<7::=A 23 1/03H/ @//<3:3A 23 :/ >C3@B/ 3@@/@ :/ >C3@B/ G 3FB@/3@ 3: D72@7= 23:/C3@B/ 78/@ 3: D72@7=
65;)2- C8/@ 6/17/ /0/8= 6/AB/ 238/@:= 3<1/8/2= &@3A7==1= G 3<5/<16/@:= 3< :/ >/@B3 AC>3@7=@ "3D/=1= 3: D72@7= G 3<5/<16/@:= >=@ :/ >/@B3 AC>3@7=@
0@7@ >=@ 1=;>:3B= :/ >C3@B/ AC83B/<2= 3: D72@7= 1=< :/ ;/<= >@3B/@ :=A B=@<7::=A 1=< C< 23AB=@<7::/2=@ /<16= 23 :/ 6=8/ 23 / @//@/ B=@<7::=A 23 1/03H/ 3 06956 :H36 :- 7<-,- =63=-9 ) <;131@)9 +<)5,6 36: =1,916: :- 0)5 465;),6 ,-*1,)4-5;- <5;) ++-:6916: "7;>7/@ :/ 8CC3@B/ 23: 6=@<= 1=< 23B3@53@=2C1B=A 23 :7;>73H/ 1=@@=A7D=A <7 /0@/A7D=A &=<3@ :=A /113A=@7=A 3< @3;=8= 1=< :/D/D/87::/A 7<;327/B/;3CRA 23 AC CA= AS :=A @3AB=A 23 1=;72/ >C3
C"@=2C13 C3?C3T/ /<=;/:S/ 4P17: 23 AC0A/
. *5 '+! $ -+ '&+ "'+ '*% +- + & *$ "<@ .96:2;A<@ 2@A./.; 12:.@6.1< 3?Q<@ (2:
)4*1)9 3) 3D47)9) ,- 13<415)+1H5 ,-3 06956 A >=A70:3 1/;07/@ C<= ;7A;= :/ :P;>/@/ 23 7:C;7317/:7H/2=A FB@/3@ A73;>@3 23 :/ 1/8/ :/ 0=;07::/ 6/:U53/T= A31= 3 3AB/ 4=@;/ A3 >@=:=<5/ :/ D72/ VB7: 23 :/ :P;>/@/ !96+-,-9 ,- 3) :1/<1-5;.
)4*1)9 3) 2<5;) ,3) 7<-9;) )7 :/ 8CC3@B/ A3 6/ 3AB@=>3/2= 2303 1/;07/@A3 "/A 8CC3AB= >/@/ AC />/@/B= :/A =0B3<2@P 3< 3: )3@D717= 23 A7AB3<17/ *R1<71/ <271/@ 3: < K 23 >@=2C1B= G 3: < K 23 4/0@71/17U< 23: />/@/B= 0@7@ :/ >C3@B/ 23: 6=@<= (3B7@/@ :/ 8CC3@B/ 23431BC=A/ < :/ 8CC3@B/ 3ABP< 478/2=A 5/<167::=A 23 AC8317U< )C83B/@ 1=< 3AB=A 5/<16=A :/ C3@B/ 23: 6=@<= B3<17U< "/ C<7U< ?C3 A3 3<1C3/@B3 7<43@7=@ 13
AB3 />/@/B= 1C;>:3 :/ <=@;/B7D/ $ )&(W A C< >@=2C1B= 23: @C>= :/A3 G @C>= 7<271/ ?C3 :=A ;71@==<2/A A3 4/0@71/< 1=< 3: 47< 23 1/:3/@/B= 3A />B= >/@/ AC CA= 3< 3: 3@7D/2= %)*3): ? ::/B=A G :=A /8CAB3A U>B7;=A >/@/ 3::=A %0B3<2@P 7<4=@;/17U< A=0@3 :/ >=B3<17/ 23 ;71@==<2/A 72U<3/ 3: B7>= 23 1/:33@/BC@/ ;PA 7<271/2/ >/@/ ACA >:/B=A :=A /113A=@7=A ?C3 2303 CB7:7H/@ G :/ /:BC
/@@7::/ = :/ 0/<238/ 23 D72@7= / :/ /:BC@/ =:=1/@ :/ D/87::/ 3< 3: 13C323< ::35/@ / :=A /:7;3C73/@@7::/ -:+65/-3)9 "/A >/@B3A ;PA 23:71/2/A 1=;= :=A ;CA:=A G :/A /:/A 23 >=::= = :=A 0=@23A 5@/A=A 23: /A/2= A3 >C323< 1C0@7@ 1=< >3?C3T=A B@=H=A 23 >/>3: 23 /:C;7<7= : >/>3: 23 /:C;7<7= <= 2303 B=1/@ :/A >/@323A 23: 6=@<= : B@/=
&,! ', & ! $ %! *''& + . ,!'+ -* !7& & %!&-,'+ .;@< 692A2@ 12 =2@0.1< ?<1.7.@ 12 =2@0.1< &2@0.1< 2;A2?< - :6; - W :6; .? 9. CB29A. 0.1. :6;BA<@ 96:6;.? 29 9Q>B61< 12 9. 12@0<;429.06T; 4 - :6; - W :6; )2=.?.? 9.@ =.?A2@ 12@0<;429.1.@ 4 4 - :6; - - :6; - W :6; W :6; .? 9. CB29A. 12 C2F 2; 0B.;1< ,2?1B?. = 27 4B6@.;A2@ 4 4 - W :6; - :6; - W :6; (2:
303 2/@A3 :/ DC3:B/ = @3;=D3@ :/A D7/<2/A 23 X D313A ;73=A/@ :=A >:/B=A 23 X ;7/@/ ?C3 A3 75C/:3 :/ B3;>3@/BC@/ "/A D7/<2/A AC3:3< 1=:3= 23 A/: C =B@=A 1=<27;3
C/<2= 1/:73@3 C73/@/ 3D7B/@ /AS 3: @3B/@2= 23 30C::717U< : @3B/@2= 23 30C::717U< 3A C< 433@/BC@/ 23 30C::717U< A7< ?C3 /A173<2/< :/A BS>71/A 0C@0C8/A 23 D/>=@ "/ ;PA :3D3 A/1C272/ 23: @317>73/@/ ?C3 A3 7<7173 C7?C3 1=< 4C3@H/ NAB= >C323 =1/A7=
)3-5;)9 )14-5;6: =17<3 :/A D7/<2/A 3< @317>73/2=A A 1=:3= 23 A/: C =B@=A 1=<27;3723H A3 1=17:/=A70:3 2373=A70:3 <= 2303@S/ >=<3@ :=A /:7;3/A C<=A 3<17;/ 23 =B@=A +
65:-26: 79D+;1+6: 7)9) <:)9 -3 41+9665,): ' + & - &,* & * * & ! + & $ - *' '*! &, ,!.' * $ ,!. + $ &,! $!% &,' )- + + (* ( * * $ $!% &,' + $ % +! ' + ' &?<9<;4.? < ?21B06? 2; A.9 0.@< 9. 1B?.06T; 129 0609< 12 0<006T; 2; 3B;06T; 12 9. @64B62;A2 ?249. /O@60.
#-+171-5;- )3 >C323 CB7:7H/@ 1C/:?C73@ @317>73B= >/@/ 3: ;71@==<2/A "=A ;=:23A ;3BP:71=A AU:= A3 >C323< CA/@ >/@/ /A/2=A A7< ;71@==<2/A "=A @317>73=<3@A3 A=0@3 C< >/T= 23 1=17C323 3AB/::/@ A7 :/ 0/A3 23 />=G= 3ABP 6V;32/ = 4@S/ : @317>73C323 /:1/3@/BC@/A ;CG 3:3D/2/A +B7:7H/@ >/T=A 23 1=17/@/ 3FB@/3@:= 65:-26: 79D+;1+6: 7)9) ):)9 &/@/ /A/@ CB7:7H/@ C< @317>73@=0/@ A7 3: @317>7
', & ! $ %! *'9 '& + . ,!'+ -* !7& & %!&-,'+ .?;2 12 02?1< @6; 0
65:-26: 79D+;1+6: 7)9) ):)9 )3 /9133 A/@ A73;>@3 :/ 1/@<3 /: 5@7:: 1=< :/ 1=;>C3@B/ 23: />/@/B= 13@@/2/ G <= >@31/:3/@/ /A/@ 3< 3: 5@7:: 2303@P< A3@ 23: ;7A;= 5@=A=@ 3< :/ ;3272/ 23 := >=A70:3 "=A 07AB31A 2303@P< B3<3@ C< 5@=A=@ 23 / 1; >=@ := ;3<=A / 47< 23 ?C3 ?C323< 2=@/2=A 23 ;=2= C<74=@;3 G 1=CRA 23 /A/@:=A ,=:B3/@ :/A >73H/A 23 1/@<3 CB7:7H/<2= :/A >77<16/ 1=< C< B3<32=@ >3@23@P 8C5=
&,! &.; 12 :<912 +' ?2/.;.1.@ $,-* !(' $ &9 , %! &,' *!$$ 3B2?A2 3B2?A2 -* !7& & %!&-,'+ I 0.?. .=?
!):;-3-: ? 9-76:;-9F) !)9) 3): ;)*3): "=A A75C73/@/ :/ 7PAGE 82+, $ + !(! &, &.@A292@ 12 :.@. /.A61. @6:=92 #<912 .9A< :<912 =.?. ?<@0.@ :<912 ?20A.;4B9.? $,-* ', & ! + $ %! *''& + -* !7& & %!&-,'+ - W !(' %( * 9 $ &, 9 ,-* B %! &,' W 27.? 2;3?6.? 29 =.@A29 2; 29 5
+, $ + !(! &, &6FF. .;127. B;6C2?@.9 .;127. 12 5B6052 =.@A29 12 02/<99. #<912 12@.?:./92 < :<912 =.?. >B6052 %( * 9 ,-* ° -* !7& & %!&-,'+ W W $,-* !(' $ &, 9 %! &,' W W W &.@A29 127.? 2;3?6.? .=?
('+, *5 5B??<@ E /BRB29<@ $,-* !(' $ &9 , %! &,' .;127. B;6C2?@.9 .;127. 12 5B2 364B?2 2; 9. A./9. 12 0<006T; +, + $ % & * '%(*' * +! +;<@ :6;BA<@ .;A2@ 12 >B2 0<;09BE.
, *, &' + +(* & $ .'$ * $ %'$ +;. C2F 0<;09B61< 29 0609< 12 5B2 29 =.@A29 < 9. A.?A. 0<;A6;B.?. @6; @.96? 129 :<912 12@=?2;12? 0B61.1<@.:2;A2 29 /
$6<..
314-5;6: 79-+6+15),6: +65/-3),6: %0A3@D/@ :/A 7<271/17=<3A 23: 4/0@71//@313< 3< 3: 3/@/ :/ 7
/:3=1= 23 ;/@31/:33@/BC@/ 23 /A/2= 723/: 3A 23 K 65:-26: ? ),=-9;-5+1): 7)9) ):)9 ) .
$ ,' ' * 5* & $ 0'& ' !7& %!& + * & $ '*&' %!& *'0'+ *& * & + )<9<:699< . =.?A6? 12 4 (<.@A/223 W 84 .9?2121
*/;07R< :=A /A/2=A 1=;= 3: /A/2= 23 13@2= A3 >@3>/@/< 1=< 3AB3 B7>= 23 1/:3@=F7;/2/;3= #-+171-5;-: ),-+<),6: +B7:713 ;=:23A >/@/ 6=@<3/@ 23 ;3B/: G =A1C@=A = 073< ;=:23A 4:3F70:3A 23 A7:71=73/ !96+-,-9 ,- 3) :1/<1-5;.
&=@ 383;>:= 3: 5@/B7/B/B/A "=A 2/B=A 23: 5@7:: 1=< /7@3 1/:73/@313< 3< :/ @313B/ K ;773
C"
641,): 5694)31@),): F7AB3< 7:/B=A )35V< :/A <=@;/A $ $ G $ -:+65/-3)9 +65 41+9665,): $ ,' ', & ! $ %! *''& + . ,!'+ -* !7& & %!&-,'+ & ! !'& + .?;2 - - W <9<0.? 29 :<912 12 C61?6< =E?2D 12 V0: 12 O 2; 9. =.??699. .9AB?. (2A6?.? 9. 0.?;2 E. 12@0<;429.1. .=?
$ ,' &.@A292@ &<99< ', & ! $ %! *''& + . ,!'+ -* !7& & %!&-,'+ - W !(' $ &, 9 %! &,' - W %( 9 * ,-* 1 & ! !'& + W <9<0.? 29 :<912 12 C61?6< =E?2D 12 0: 12 O 2; 9. =.??699. .9AB?. W .? 9. CB29A. 12@=BP@ 12 :6;BA<@ <9<0.? 9. =.??699. 2; 9. .9AB?. E 9. /.;127. B;6C2?@.9 129 5
!(! &, + / '&+ "'+ &.@A29 12 :.;F.;. ?20B/62?A< $,-* !(' $ &, 9 %! &,' #<912 12@:<;A./92 12 5<7.9.A. O 0: 16?20A.:2;A2 @
6;1+1):
