berkeley program in soviet and post-soviet studieshomes.ieu.edu.tr/~ibagdadi/int435/readings/central...
TRANSCRIPT
Institute of Slavic, East European, and EurasianStudies
Berkeley Program in Soviet andPost-Soviet Studies
(University of California, Berkeley)
Year Paper ↩spec
The Transformation of Askar Akaev,
President of Kyrgyzstan
Regine A. SpectorUniversity of California, Berkeley
This paper is posted at the eScholarship Repository, University of California.
http://repositories.cdlib.org/iseees/bps/2004 02-spec
Copyright c©2004 by the author.
The Transformation of Askar Akaev,
President of Kyrgyzstan
Abstract
This paper follows the transformation of Kyrgyzstan’s president, Askar Akaev,over the course of the 1900s from an initial path of liberalization to more au-thoritarian tendencies. Akaev’s role in Kyrgyzstan’s post-Soviet trajectory islargely neglected in current scholarship, and this paper analyzes how the roleof leadership compares with existing literature. This analysis focuses on howAkaev builds authority with various audiences and the constraints he had facedduring his tenure. This paper explains the evolution of Akaev’s leadership strat-egy during 1989 to 1993 and then the period following the 1993 crisis, up to thepresent (2003). Next are given five alternative approaches to understanding thecountry’s trajectory over the 1990s and summarizes the benefits of incorporat-ing leadership as a variable in understanding Kyrgyzstan’s transition. Finally,the president’s leadership helps to explain the country’s initial liberal path, buta full explanation of his shift to authoritarian tendencies must address othervariables discussed in existing literature.
Berkeley Program in Soviet and Post-Soviet StudiesWorking Paper Series
University of California, Berkeley
This PDF document preserves the page numbering of the printed version for accuracy of citation. Whenviewed with Acrobat Reader, the printed page numbers will not correspond with the electronic numbering.
The Transformation of Askar Akaev,President of Kyrgyzstan
Regine A. Spector
The Berkeley Program in Soviet and Post-Soviet Studies (BPS) is a leading center for graduate training onthe Soviet Union and its successor states in the United States. Founded in 1983 as part of a nationwide effortto reinvigorate the field, BPS’s mission has been to train a new cohort of scholars and professionals in bothcross-disciplinary social science methodology and theory as well as the history, languages, and cultures of theformer Soviet Union; to carry out an innovative program of scholarly research and publication on the SovietUnion and its successor states; and to undertake an active public outreach program for the local community,other national and international academic centers, and the U.S. and other governments.
Berkeley Program in Soviet and Post-Soviet StudiesUniversity of California, Berkeley
Institute of Slavic, East European, and Eurasian Studies260 Stephens Hall #2304
Berkeley, California 94720-2304
Tel: (510) [email protected]
http://socrates.berkeley.edu/~bsp/
!"#$!%&'()*%+&,-*'$*)$.(/&%$./%#(-3#',$*)$45%657(,&'
!"#$%"&'(&)*"+,-.
!"#$%"&'(&)*"+,-.&$/&0&12(3(&/,45"%,&$%&,2"&3"*0.,6"%,&-7&1-8$,$+08&)+$"%+"&0,&,2"&9%$:"./$,;&-7<08$7-.%$0=&>".?"8";(&)2"&@-485&8$?"&,-&,20%?&,2"&7-88-@$%#&*"-*8"&7-.&,2"$.&+-66"%,/&0%5/4##"/,$-%/&-%&*.":$-4/&5.07,/A&B"-.#"&C(&>."/804".=&[email protected]&C(&C08?".=&'8$/2".&E206$5-:=&,2"*0.,$+$*0%,/&-7&,2"&F!DG&H<"%,.08&'/$0&0%5&$,/&I"$#2J-./&!"#$-%08&1-8$+;&);6*-/$46KLM0.+2NOPNQ=&RSSOT=&0%5&,2"&*0.,$+$*0%,/&-7&,2"&>".?"8";&1.-#.06&$%&)-:$",&0%5&1-/,U)-:$",&),45$"/#.0540,"&/"6$%0.&L'*.$8&NV=&RSSOT(
W4%5$%#&7-.&,2$/&*0*".&20/&J""%&*.-:$5"5&J;&,2"&I0,$-%08&)"+4.$,;&D54+0,$-%&1.-#.06&LI)D1T(X2"&:$"@/&"Y*."//"5&2"."$%&0."&,2-/"&-7&,2"&04,2-.&0%5&5-&%-,&%"+"//0.$8;&."78"+,&,2-/"&-7&I)D1(
!"#$%&'())*
O
/%&,".01&-2&3"0-+.4,$54,$-%6&40-%#&,7"&*-1,8)-9$",&+-:%,.$"16&,7"&;<.#<5!"*:=>$+?4%3&/&*:,&$,&@:$,"&."41-%4=><?$1&-%"&-2&,7"&>"43$%#&+-:%,.$"1('%3&/&3-&%-,&A4%,&,-&0$%$0$5"&0<&*".1-%4>&.->"&$%&,7$1&*.-+"11(
?'1B4.&'B4"96&C."1$3"%,&-2&,7"&;<.#<5&!"*:=>$+6&<)F)=
D417$%#,-%6&E(F(6&)"*,"0=".&GH6&GIIG
9*-%&E;.#;Z/,0%[/&$%5"*"%5"%+"&7.-6&,2"&)-:$",&9%$-%&$%&N\\N=&*.-/*"+,/&7-.&,2$/&8$J".08U
8"0%$%#=&6-4%,0$%-4/&+-4%,.;&$%/*$."5&+-66"%,0,-./&,-&."7".&,-&$,&0/&,2"&H)@$,Z".80%5&-7&<"%,.08
'/$0K&0%5&0%&H$/80%5&-7&5"6-+.0+;(K&X2"&80,,".&6",0*2-.&*0$%,/&0&*0.,$+480.8;&:$:$5&*$+,4."=&0/
E;.#;Z/,0%&8$"/&80%5U8-+?"5&$%&,2"&2"0.,&-7&<"%,.08&'/$0=N&/4..-4%5"5&J;&+-664%$/,&<2$%0=&+$:$8
@0.U.0:0#"5&X0]$?$/,0%=&0%5&,@-&-,2".&%"@8;&$%5"*"%5"%,&/,0,"/&@$,2&04,2-.$,0.$0%&,"%5"%+$"/=
9ZJ"?$/,0%&0%5&E0Z0?2/,0%(
9%8$?"&$,/&%"$#2J-./=&2-@":".=&E;.#;Z/,0%&+-66$,,"5&,-&.05$+08&"+-%-6$+&."7-.6&$%&,2"
"0.8;&N\\S/(&F,&@0/&08/-&,2"&7$./,&%"@8;&$%5"*"%5"%,&/,0,"&,-&+-%:".,&,-&$,/&-@%&+4.."%+;=&,2"&/-6=
$%&N\\O=&0/&@"88&0/&,2"&7$./,&,-&]-$%&,2"&C-.85&X.05"&^.#0%$Z0,$-%&LCX^T&$%&N\\_(&`0%5&."7-.6
0%5&*.$:0,$Z0,$-%&*-8$+$"/&@"."&05-*,"5&0%5&,2"&+-4%,.;&/"+4."5&/$#%$7$+0%,&06-4%,/&-7&$%,".%0U
,$-%08&7$%0%+$08&0$5&J$80,".088;&0%5&,2.-4#2&$%,".%0,$-%08&7$%0%+$08&$%/,$,4,$-%/(&'&:$J.0%,&+$:$8
/-+$",;=&$%+845$%#&$%5"*"%5"%,&6"5$0&-4,8",/&0%5&%-%U#-:".%6"%,08&-.#0%$Z0,$-%/=&78-4.$/2"5
5"/*$,"&aS&;"0./&-7&)-:$",&.48"(
>;&,2"&6$5UN\\S/=&2-@":".=&,2"&,$5"&J"#0%&,-&,4.%(&<.0+?5-@%/&-%&$%5"*"%5"%,&6"5$0
-4,8",/&J"+06"&7."b4"%,=&0%5&."#$-%08&-**-/$,$-%&,-&,2"&.48$%#&."#$6"&2"$#2,"%"5(&F%,".%0,$-%08
-J/".:"./&+20.0+,".$Z"5&,2"&RSSS&*."/$5"%,$08&"8"+,$-%/&0/&7488&-7&:-,$%#&$.."#480.$,$"/=&J.$J$%#=
0%5&$%,$6$50,$-%(&'%5&5"/*$,"&5.0/,$+&."7-.6/&0%5&0//$/,0%+"=&,2"&"+-%-6;&."60$%"5&7.0#$8"&0%5
4%5".5":"8-*"5=&@$,2&*-:".,;&8":"8/&+8$6J$%#&,-&-:".&VSc&$%&*0.,/&-7&,2"&+-4%,.;(&E;.#;Z/,0%[/
,.0%/$,$-%&"Y*".$"%+"&-:".&,2"&+-4./"&-7&,2"&N\\S/&,24/&.0$/"/&,@-&+.4+$08&b4"/,$-%/A&@2;&5$5&,2"
+-4%,.;&8$J".08$Z"&4*-%&$%5"*"%5"%+"=&0%5&@2;&5$5&$,&/4J/"b4"%,8;&6-:"&0@0;&7.-6&,2$/&."7-.6
0#"%50d
e
F%&,2"&NV&;"0./&/$%+"&,2"&+-880*/"&-7&,2"&)-:$",&9%$-%=&/+2-80./&20:"&-77"."5&:0.$-4/
"Y*80%0,$-%/&-7&J-,2&E;.#;Z/,0%[/&8$J".08$Z0,$-%&0%5&/4J/"b4"%,&,4.%&,[email protected]/&6-."&04,2-.$,0.$0%
,."%5/(&X2$/&/,45;&"6*20/$Z"/&0&:0.$0J8"&,20,&20/&J""%&80.#"8;&%"#8"+,"5f,2"&.-8"&-7&8"05".U
/2$*f0%5&0%08;Z"/&2-@&,2$/&0**.-0+2&+-6*0."/&@$,2&"Y$/,$%#&8$,".0,4."&$%&"Y*80$%$%#
E;.#;Z/,0%[/&,.0]"+,-.;(R
`"05"./2$*&0%08;/$/&,.0+"/&,2"&*20/"/&-7&8"05"./2$*&@$,2&0&*0.,$+480.&7-+4/&-%&2-@&0
8"05".&J4$85/&04,2-.$,;&@$,2&:0.$-4/&045$"%+"/&0%5&,2"&+-%/,.0$%,/&,2"&8"05".&70+"/&54.$%#&2$/
,"%4."(&X2"&+-%+"*,&-7&J4$85$%#&04,2-.$,;&5$77"./&7.-6&+-".+$:"&/,.0,"#$"/&0%5&08/-&7.-6&+-%/-8$U
50,$%#&*-@".&-%+"&$%&-77$+"(&'++-.5$%#&,-&>."/804".=&J4$85$%#&04,2-.$,;&."7"./&,-&,2"&*.-+"//&J;
@2$+2&H8"05"./&/""?&,-&8"#$,$6$Z"&,2"$.&*-8$+;&*.-#.06/&0%5&5"6-%/,.0,"&,2"$.&+-6*","%+"&-.
$%5$/*"%/0J$8$,;&0/&*.-J8"6&/-8:"./&0%5&*-8$,$+$0%/(K&O&X2$/&*.-+"//&-7&*"./405$%#=&$%/*$.$%#=&0%5
64,4088;&$5"%,$7;$%#&@$,2&045$"%+"/&$/&+.4+$08&7-.&0&8"05".&,-&"77"+,&+20%#"&$%&0&*-8$,$+088;&+-6U
*",$,$:"&/;/,"6(e&C2$8"&/-6"&0**.-0+2"/&,-&,2"&/,45;&-7&8"05"./2$*&:$"@&8"05"./&0%5&,2"$.&/$,40U
,$-%/&0/&/,0,$+&0%5&4%+20%#$%#=&,2$/&0**.-0+2&2$#28$#2,/&,2"&$%,".0+,$-%&J",@""%&$%5$:$5408/&0%5
,2"$.&"%:$.-%6"%,&-:".&,$6"(&9/$%#&0&8"05"./2$*&0%08;/$/&0**.-0+2&08/-&0:-$5/&,2"&*$,7088&-7
:$"@$%#&,2"&.-8"&-7&,2"&$%5$:$5408&$%&*-8$,$+/&0%5&,2"&+-4./"&-7&":"%,/&$%&J80+?&0%5&@2$,"&,".6/f
0/&"$,2".&2$#28;&/$#%$7$+0%,&-.&+-6*8","8;&5$/*"%/0J8"(
F&*.-+""5&,-&"Y*80$%&,2"&":-84,$-%&-7&'?0":[/&8"05"./2$*&/,.0,"#;&$%&,@-&/"+,$-%/A&7$./,=&2$/
*-8$,$+08&0/+"%,&0%5&2$/&7$./,&7"@&;"0./&$%&*-@".&7.-6&N\_\&,-&N\\Og&0%5&/"+-%5=&,2"&;"0.&-7&+.$/$/
$%&N\\O&0%5&,2"&/4J/"b4"%,&."*".+4//$-%/&-7&2$/&$%$,$08&*-8$,$+08&0%5&"+-%-6$+&*-8$+$"/&7.-6&N\\e
,-&,2"&*."/"%,(&X2"&,2$.5&/"+,$-%&.":$"@/&7$:"&08,".%0,$:"&0**.-0+2"/&,-&4%5"./,0%5$%#
E;.#;Z/,0%[/&,.0]"+,-.;&-:".&,2"&+-4./"&-7&,2"&N\\S/&0%5&/4660.$Z"/&,2"&J"%"7$,/&-7&$%+-.*-.0,U
$%#&8"05"./2$*&0/&0&:0.$0J8"&$%&4%5"./,0%5$%#&E;.#;Z/,0%[/&,.0%/$,$-%(&X-&*.":$"@&,2"&+-%+84/$-%=
F&0.#4"&,20,&0%&0%08;/$/&-7&'?0":[/&8"05"./2$*&2"8*/&,-&"Y*80$%&E;.#;Z/,0%[/&$%$,$08&8$J".08&,.0]"+U
,-.;(&'&7488&"Y*80%0,$-%&-7&,2"&/2$7,&,-&6-."&04,2-.$,0.$0%&,"%5"%+$"/=&2-@":".=&."b4$."/&$%+84/$-%
-7&-,2".&:0.$0J8"/&5$/+4//"5&$%&"Y$/,$%#&8$,".0,4."(
!!!!!!
V
F%&^+,-J".&N\\N=&,2"&*"-*8"&-7&E;.#;Z/,0%&:-,"5&7-.&0&."80,$:"8;&4%?%-@%&/+$"%,$/,=&'/?0.
'?0":=&,-&J"&,2"&7$./,&*."/$5"%,&-7&,2"$.&%"@8;&$%5"*"%5"%,&+-4%,.;(&>-.%&$%&%-.,2".%&E;.#;Z/,0%
$%&N\ee=&'?0":&/*"%,&0J-4,&NV&;"0./&7.-6&N\QR&,-&N\aa&$%&`"%$%#.05&L),(&1","./J4.#T=&!4//$0=
/,45;$%#&-*,$+/&0%5&+-6*4,".&/+$"%+"(&h"&.",4.%"5&,-&2$/&2-6"&+0*$,08&-7&W.4%Z"&L."%06"5
>$/2?"?&$%&N\\NT&,-&*4./4"&0%&0+05"6$+&+0."".=&*4J8$/2$%#&-:".&NSS&0.,$+8"/&0%5&,.0$%$%#&0&%"@
#"%".0,$-%&-7&E;.#;Z&/+$"%,$/,/(&W.$"%5/&0%5&+-88"0#4"/&2$#28$#2,"5&2$/&+-66$,6"%,&,-&,2"
*4./4$,&-7&?%-@8"5#"&$%&2$/&7$"85=&0%5&/4##"/,"5&,20,&2"&@-485&J"&0&#."0,&/+$"%,$/,&7.-6&0%&"0.8;
0#"(V
'?0":&"%,"."5&,2"&@-.85&-7&*-8$,$+/&$%&N\_N&J;&]-$%$%#&,2"&<-664%$/,&10.,;(Q&'7,".&-%8;
7$:"&;"0./&$%&,2"&10.,;=&2"&0++"*,"5&0%&$%:$,0,$-%&,-&J"+-6"&2"05&-7&,2"&<"%,.08&<-66$,,""
3"*0.,6"%,&-7&)+$"%+"&0%5&h$#2".&D54+0,$-%08&F%/,$,4,$-%/&0%5&,2"%&2"05&-7&,2"&E;.#;Z&'+05U
"6;&-7&)+$"%+"/=&@2"."&2"&/".:"5&0/&:$+"U*."/$5"%,&J"#$%%$%#&$%&N\_a&0%5&,2"%&0/&*."/$5"%,&$%
N\_\(a
'?0":[/&0/+"%,&+-$%+$5"5&@$,2&B-.J0+2":[/&*-8$+$"/&-7&8$J".08$Z0,$-%&0%5&."7-.6&$%&,2"
9))!&54.$%#&,2"&80,"&N\_S/(&'/&@$,2&,2"&+"%,.08&)-:$",&/;/,"6=&"0+2&."*4J8$+&205&0&*0.088"8
#-:".%$%#&*0.,;&0%5&/,0,"&0**0.0,4/=&@$,2&*-@".&."/,$%#&$%&,2"&*0.,;(&C2$8"&,2"&*-8$+$"/&-7
*"."1,.-$B4&0%5&#>41%-1,&-.$#$%0,$%#&7.-6&M-/+-@&5$5&%-,&5$."+,8;&+04/"&,2"&,.0%/$,$-%/&-7&,2"
<"%,.08&'/$0%&!"*4J8$+/=&,2"&."7-.6&*.-+"//&*.-:$5"5&,2"&Hi&,2"&$66"5$0,"&*-8$,$+08&+-%,"Y,
0%5&+0,08;/,&7-.&,2"&7$./,&/,0#"/&-7&."#$6"&+20%#"&$%&<"%,.08&'/$0(K_&X24/=&5"+$/$-%/&605"&$%&,2"
2"05b40.,"./&-7&,2"&9))!&$%&M-/+-@&205&0&#."0,&$6*0+,&-%&,2"&*-//$J8"&+-4./"/&7-.&,2"&4%$-%
."*4J8$+/=&$%+845$%#&E;.#;Z/,0%(
^%"&*0.,$+480.8;&$6*-.,0%,&."7-.6&$%&N\__&08,"."5&,2"&9))
Q
+.$,$+08&5"J0,"/&0J-4,&,2"&74,4."&-7&,2"&9))!&0%5&6$%#8"5&@$,2&."7-.6"./&/4+2&0/&B-.J0+2":=
'$,60,-:=&0%5&)0?20.-:(&'/&D4#"%"&h4/?";&-J/".:"5A&HF7&`"%$%#.05&$%,.-54+"5&'?0":&,-&/".$U
-4/&/+$"%+"=&M-/+-@�:"&2$6&/+2--8$%#&$%&/".$-4/&*-8$,$+/(K\
X2$/&%"@&088U9%$-%&J-5;&/$#%$7$+0%,8;&08,"."5&,2"&*-8$,$+08&80%5/+0*"&$%&E;.#;Z/,0%&$%
,@-&055$,$-%08&@0;/(&W-.&,2"&7$./,&,$6"=&,2"&E;.#;Z&5"8"#0,$-%&5$5&%-,&/,0%5&4%$,"5&$%&M-/+-@(&'
J.0%+2&-7&-*"%&/4**-.,"./&-7&B-.J0+2":=&$%+845$%#&'?0":=&+-6*.$/"5&0&/6088&J4,&/$#%$7$+0%,
6$%-.$,;&-7&,2"&5"8"#0,$-%(&)"+-%5=&,2"&+20%#"/&4%5".@0;&$%&N\_\&4%8"0/2"5&-**-.,4%$,$"/&7-.
%"@&0+,-./&,-&*0.,$+$*0,"&$%&,2"&*-8$,$+08&*.-+"//(&)-+$08&#.-4*/&0%5&6-:"6"%,/&J"#0%&,-&-*"%8;
+2088"%#"&,2"&+-%/".:0,$:"&8"05"./2$*&-7&W$./,&)"+.",0.;&'J/060,&M0/08$":(NS
X2"&,4.%$%#&*-$%,&$%&'?0":[/&*-8$,$+08&+0."".&+06"&$%&6$5UN\\S(&34.$%#&2$/&,"%4."&0/&0
6"6J".&-7&,2"&E;.#;Z&5"8"#0,$-%&,-&,2"&<-%#."//&-7&1"-*8"[/&3"*4,$"/=&'?0":[/&*"./-%08&+20.U
0+,".$/,$+/&0%5&*-8$,$+08&8"0%$%#/&J"+06"&0**0."%,(&h"&.0."8;&/*-?"&$%&*0.8$06"%,=&0%5&@2"%&2"
5$5=&2"&5$5&/-&$%&0&6"0/4."5&@0;(&h$/&:-,$%#&*0,,".%/&,"%5"5&,-&/4**-.,&*-8$,$+08&0%5&60.?",
."7-.6=&+-4%,".&,-&,2"&-*$%$-%&-7&,2"&-,2".@$/"&4%$,"5&+-%/".:0,$:"&E;.#;Z&5"8"#0,$-%(NN
F%&055$,$-%&,-&*.-6-,$%#&6-."&8$J".08&*-8$,$+08&0%5&"+-%-6$+&."7-.6=&'?0":&5$/,$%#4$/2"5
2$6/"87&7.-6&,2"&+-%/".:0,$:"&<-664%$/,&8"05"./2$*&$%&/-+$08&*-8$+;(NR&'8."05;&$%&N\_\&0%5
"0.8;&N\\S=&,2"."&@"."&/$#%/&-7&,"%/$-%&$%&>$/2?"?&L,2"&+0*$,08&$%&,2"&%-.,2&-7&,2"&+-4%,.;T&-:".
/-+$08&$//4"/=&$%+845$%#&80+?&-7&2-4/$%#&0%5&#"%".08&*-:".,;(&X2"&."*4J8$+[/&7$./,&04,-%-6-4/
-.#0%$Z0,$-%/&0%5&*-8$,$+08&#.-4*$%#/&"6".#"5&,-&*.-,"/,&,2"/"&/-+$08&0%5&"+-%-6$+&+-%5$,$-%/(NO
)$5$%#&@$,2&+-%/".:0,$:"/&J-,2&$%&,2"&."*4J8$+&0%5&$%&M-/+-@=&,2"&2"05&-7&,2"&E;.#;Z&<-664U
%$/,&10.,;=&'J/060,&M0/08$":=&@0/&4%."/*-%/$:"&,-&,2"&*.-,"/,"./(&M0/08$":&$%+."0/$%#8;&,4.%"5
0#0$%/,&B-.J0+2":&0%5&/-4#2,&,-&8$6$,&,2"&"77"+,/&-7&B-.J0+2":[/&.05$+08$Z$%#&."7-.6&*.-#.06(Ne
F%&,2"&/466".&-7&N\\S=&5"058;&.$-,/&".4*,"5&$%&,2"&/-4,2&-7&,2"&."*4J8$+=&@2$+2&*.-:"5&,-
J"&0&*-8$,$+08&J8"//$%#&7-.&'?0":(&X2"&+$,$"/&-7&^/2&0%5&9Z#"%&8$"&$%&,2"&5"%/"8;&*-*480,"5&0%5
0#.$+48,4.088;&.$+2&W".#20%0&j088";=&@2$+2&"Y,"%5/&,2.-4#2&E;.#;Z/,0%=&X0]$?$/,0%=&0%5
9ZJ"?$/,0%(&X2"&E;.#;Z&/"+,$-%&-7&,2"&:088";&$/&2-6"&,-&J-,2&",2%$+&E;.#;Z&0%5&9ZJ"?/(&W-.
,@-&5"+05"/&*.$-.&,-&N\\S=&,2"&."#$-%&205&/477"."5&7.-6&80%5&0%5&2-4/$%#&/2-.,0#"/&54"&,-&.0*$5
a
0#.$+48,4.08&5":"8-*6"%,(&^:".&,$6"=&",2%$+&9ZJ"?/&*".+"$:"5&,2"6/"8:"/&0/&5$/"%7.0%+2$/"5=
@2$8"&",2%$+&E;.#;Z&@"."&+-%:$%+"5&,20,&9ZJ"?/&205&,2"&J"/,&.",0$8&0%5&+-%/46".&]-J/(NV&!$-,/
".4*,"5&@2"%&",2%$+&E;.#;Z&,.$"5&,-&."5$/,.$J4,"&8-+08&80%5&7.-6&9ZJ"?/&,-&",2%$+&E;.#;Z&2".5U
"./=&$#%$,$%#&0&:$-8"%,&."0+,$-%&0%5&,2"&5"0,2&-7&24%5."5/&-7&*"-*8"(&)-6"&9ZJ"?/&."/*-%5"5
@$,2&+088/&7-.&9ZJ"?&80%#40#"&."+-#%$,$-%=&@2$8"&-,2"./&@"%,&/-&70.&0/&,-&5"60%5&,2"
."$%+-.*-.0,$-%&-7&,2"&/-4,2".%&-J80/,/&$%,-&9ZJ"?$/,0%(&X2"/"&":"%,/&4%8"0/2"5&74.,2".&5"6-%U
/,.0,$-%/&J;&."7-.6$/,&6"6J"./&-7&,2"&*-8$,$+08&"/,0J8$/26"%,&,2.-4#2-4,&,2"&+-4%,.;(&NQ
F%&,2"&";"/&-7&,2"&*-*480,$-%=&M0/08$":&205&J""%&5$/+."5$,"5&7-.&70$8$%#&,-&055."//&,2"
+-4%,.;[/&/-+$-"+-%-6$+&*.-J8"6/&0%5&",2%$+&,"%/$-%/=&"/*"+$088;&J"+04/"&2"&+06"&7.-6&,2"
/-4,2&-7&,2"&+-4%,.;&2$6/"87(&'?0":&4/"5&,2$/&-**-.,4%$,;&,-&%-,&-%8;&5$/0#.""&@$,2&M0/08$":&0%5
-,2".&+-%/".:0,$:"/&-%&"+-%-6$+&0%5&80%5&."7-.6&*-8$+;=&J4,&08/-&,-&-*"%8;&J806"&,2"&8"05"./2$*
0%5&,2"&10.,;&7-.&%-,&."/*-%5$%#&,-&/-+$-"+-%-6$+&+.$/"/&0%5&/$66".$%#&",2%$+&,"%/$-%/(&Na
M0/08$":[/&6$//,"*/=&/,"66$%#&7.-6&2$/&$%0J$8$,;&-.&4%@$88$%#%"//&,-&055."//&",2%$+&0%5
"+-%-6$+&,"%/$-%/=&*.-:$5"5&,2"&*-8$,$+08&-*"%$%#&7-.&'?0":&,-&.$/"&,-&,2"&."*4J8$+[/&,-*&8"05".U
/2$*&*-/$,$-%(&F%&'*.$8&N\\S=&*.$-.&,-&,2"&.$-,/&$%&^/2&0%5&9Z#"%=&M0/08$":&205&$%,.-54+"5&0
."7-.6&6"0/4."&,20,&@-485&"8"+,&0&*."/$5"%,&-7&,2"&."*4J8$+&7-.&,2"&7$./,&,$6"(&M0/08$":&.0%&$%
^+,-J".&0//46$%#&,20,&2"&@-485&@$%(&h-@":".=&20:$%#&J""%&5$/+."5$,"5&J;&,2"&":"%,/&-7&,2"
/466".=&M0/08$":&70$8"5&,-&-J,0$%&,2"&60]-.$,;&$%&,@-&.4%U-77/&$%&,2"&)4*."6"&)-:$",&0#0$%/,&,@-
-**-%"%,/=&,2"."J;&5$/b408$7;$%#&088&,2.""&+0%5$50,"/&7.-6&,2"&"8"+,$-%(&'7,".&0&7"@&50;/&-7
*.-+"54.08&4%+".,0$%,;=&0&%"@&/80,"&-7&%-6$%""/&@0/&*4,&7-.,2(&'&#.-4*&-7&5"*4,$"/&@2-&/4*U
*-.,"5&5"6-+.0,$+&."%"@08&0%5&+$:$+&20.6-%;&%-6$%0,"5&'?0":=&0%5&2"&%0..-@8;&@-%&50;/&80,".=
-%&^+,-J".&Ra=&N\\S(N_&'/&'?0":&2$6/"87&/4J/"b4"%,8;&%-,"5&-%&,2"&"8"+,$-%&*.-+"//A&HM0%;
5"*4,$"/&/0@&,2"&%-6$%0,$-%&-7&0&,-,088;&%"@&*"./-%&7-.&,2"&*."/$5"%+;&0/&0&."08&@0;&-7&J.$%#$%#
,2"&#.-4*/&,-#",2".&0%5&#",,$%#&,2"6&,-&0#.""(KN\&'?0":&"6J-5$"5&,20,&,-,088;&%"@&*"./-%(
'/&*."/$5"%,&-7&,2"&."*4J8$+&L$%5"*"%5"%+"&@-485&%-,&-++4.&4%,$8&,2"&7-88-@$%#&;"0.T=
'?0":&*."/$5"5&-:".&0&*".$-5&+20.0+,".$Z"5&7$./,&0%5&7-."6-/,&J;&,2"&5$/$%,"#.0,$-%&-7&,2"&9))!(
h$/&*."/$5"%+;&08/-&+-66"%+"5&54.$%#&,2"&4%.0:"8$%#&-7&."*4J8$+0%U8":"8&*-@".&0%5&$%/,$,4U
_
,$-%/=&0++-6*0%$"5&J;&0&#"%".08&/"%/"&-7&$%/,0J$8$,;&0%5&*-8$,$+08&+-%7.-%,0,$-%(&!"7"..$%#&,-&,2"
/466".&.$-,/&0%5&,2"&+-%,.-:"./$08&."*4J8$+0%&*."/$5"%,$08&"8"+,$-%=&-%"&]-4.%08$/,&/,0,"5&,20,&,2"
Hi&+-6*8"Y=&5.060,$+&50;/&0."&-:".(&F,&/""6"5&,20,&$,&@-485&%-,&,0?"&64+2&7-.&0&+$:$8&@0.
J",@""%&%-.,2&0%5&/-4,2&,-&J"#$%(KRS&F%5""5=&$,&@-485&J"&5$77$+48,&,-&-:"."/,$60,"&,2"&*-8$,$+08
0%5&/-+$08&,"%/$-%&@$,2$%&,2"&+-4%,.;&@2"%&'?0":&+06"&,-&*-@".&0,&,2"&"%5&-7&N\\S(
',&,2"&J"#$%%$%#&-7&2$/&*."/$5"%+;=&'?0":&.":"08"5&,20,&2"&205&%-,&"Y*"+,"5&,-&J"&*."/$U
5"%,&%-.&205&2"&/-4#2,&*-@".(&h$/&@$7"&+-%7$.6"5&,20,&/2"&,--&205&%":".&,2-4#2,&,20,&2".&24/U
J0%5&@-485&J"+-6"&*."/$5"%,=&0%5&H$%:-84%,0.$8;&J"#0%&,-&804#2K&4*-%&2"0.$%#&,2"&%"@/&-7&2$/
%-6$%0,$-%(RN&k",&'?0":&205&060//"5&/-6"&04,2-.$,;&0/&0&+-6*.-6$/"&+0%5$50,"=&0%5&+".,0$%
*-8$,$+$0%/&$%&M-/+-@=&$%+845$%#&B-.J0+2":=&0/&@"88&0/&0&7-.6".&7$./,&/"+.",0.;&-7&,2"&E;.#;Z
<-664%$/,&10.,;=&X4.50?4%&9/4J08$":=&@2-&@0/&08/-&7.-6&,2"&%-.,2=&J"8$":"5&2$6&,-&J"&+."5U
$J8"(&h-@":".=&2"&205&%"$,2".&/$#%$7$+0%,&*-8$,$+08&"Y*".$"%+"&%-.&/-8$5&*-8$,$+08&J0+?$%#&0,&,2"
."*4J8$+0%&8":"8(&9%8$?"&,2"&*."/$5"%,/&-7&E0Z0?2/,0%=&9ZJ"?$/,0%&0%5&X4.?6"%$/,0%=&@2-&@"."
088&7-.6".&7$./,&/"+.",0.$"/&-7&,2"$.&."/*"+,$:"&."*4J8$+/=&'?0":&+06"&7.-6&-4,/$5"&,2"&/;/,"6&0%5
,2"."7-."&205&,-&J4$85&04,2-.$,;&@$,2$%&,2"&."*4J8$+&-:".&,2"&+-6$%#&;"0.(
&^%"&-7&'?0":[/&7$./,&6-:"/&$%&2$/&%"@&*-/$,$-%&@0/&,-&J.-05"%&2$/&+-%/,$,4"%+;&@2$8"
J080%+$%#&,2"&$%,"."/,/&-7&<-664%$/,&10.,;&6"6J"./&@2-&@"."&/,$88&$%&-77$+"(&34.$%#&,2"&"8"+,$-%
$%&^+,-J".=&24%#".&/,.$?"./&077$8$0,"5&@$,2&,2"&5"6-+.0,$+&-**-/$,$-%&5"60%5"5&,2"&."/$#%0,$-%&-7
M0/08$":&0%5&-,2"./&$%&2$/&+05."&0%5&/4**-.,"5&'?0":[/&+0%5$50+;&7-.&*."/$5"%,(&h"&6",&@$,2&,2"
5"6-+.0,$+U8"0%$%#&24%#".&/,.$?"./&0/&-%"&-7&2$/&7$./,&*.$-.$,$"/=&0%5&*.-0+,$:"8;&$%+-.*-.0,"5&$%,-
2$/&#-:".%6"%,&8"05"./&-7&088&",2%$+&+-664%$,$"/&@2-&/4**-.,"5&"+-%-6$+&0%5&*-8$,$+08&."U
7-.6(RR
F%&2$/&7$./,&5"+.""&0/&*."/$5"%,=&'?0":&/$#%08"5&,2"&*.$-.$,;&2"&*80+"5&-%&055."//$%#&,2"
"+-%-6$+&6080$/"&-7&,2"&+-4%,.;=&08/-&0&+-%+".%&-7&,2"&*.-,"/,"./(&h"&7-.6"5&0&),0,"&<-66$//$-%
7-.&D+-%-6$+&!"7-.6&07,".&$5"%,$7;$%#&,2"&%""5&7-.&H0&6-."&*.-7-4%5&/+$"%,$7$+&"80J-.0,$-%&-7
,2"&+-%+"*,&7-.&,2"&,.0%/$,$-%&,-&60.?",&."80,$-%/(KRO&X2$/&/+$"%,$7$+&0**.-0+2&,-�,2".$%#&$%7-.U
\
60,$-%&0%5&0//"//$%#&,2"&/$,40,$-%&J"7-."&5"+$5$%#&-%&0&*80%&."78"+,"5&'?0":[/&J0+?#.-4%5&0/&0
/+$"%,$/,(
'?0":[/&$5"0/&7-.&"+-%-6$+&."7-.6&@"."&%-,&%"@(&h"&205&0.,$+480,"5&0&*-/$,$-%&-%&,2"
"+-%-6;&0/&"0.8;&0/&3"+"6J".&N\_\=&@2"%&2"&+80/2"5&@$,2&M0/08$":&0%5&,2"&+-%/".:0,$:"
."*4J8$+0%&"8$,"&@2-&."/$/,"5&."7-.6(&'+?%-@8"5#$%#&,2"&-J/,0+8"/&,-&60.?",&."7-.6=&$%+845$%#
,2"&*-//$J$8$,;&-7&2$#2&4%"6*8-;6"%,&0%5&0&#.-@$%#&5$:$/$-%&J",@""%&.$+2&0%5&*--.=&2"&/,0,"5
,20,&,2"."&@0/&%-&08,".%0,$:"&,-&,2"&60.?",A&H'6-%#&+-4%,.$"/&@$,2&60.?",&"+-%-6$"/&,2"."&0."
.$+2&0%5&*--.&/,0,"/=&J4,&06-%#&,2"&+-4%,.$"/&@$,2&0&+-660%5&"+-%-6;&,2"."&$/&%-,&-%"&,20,&$/
.$+2(KRe&'?0":&/,0?"5&2$6/"87&-4,&0/&0&5$//$5"%,=&0%5&0&*.-*-%"%,&-7&"+-%-6$+&."7-.6(&h"&0.,$+4U
80,"5&0&/,.0,"#;&7-.&$6*8"6"%,$%#&,2$/&."7-.6&07,".&/":"%&6-%,2/&$%&-77$+"A
HC"&20:"&*."*0."5&0&:".;&-.$#$%08&80@&-%&7-."$#%&$%:"/,6"%,(&F,&@$88&J"&,2"&6-/,8$J".08&-%"&$%&-4.&+-4%,.;&0%5&,2"&+-%/,$,4"%,&9%$-%&!"*4J8$+/(&C"&20:"&5"+$5"5&,-,0?"&0&.$/?(&C"&2-*"&,20,&-4.&*0.8$06"%,&@$88&/4**-.,&,2"&J$88&i(&F&06&+-%:$%+"5&,20,@$,2-4,&0&60]-.&$%78-@&-7&+0*$,08&$%:"/,6"%,=&@$,2-4,&0%&$%78-@&-7&7-."$#%&$%:"/,U6"%,=&@"&-4./"8:"/&@$88&J"&4%0J8"&,-&0++-6*8$/2&0%;,2$%#(&C"&@0%,&,-&0%08;Z"&088,2"&*.-J8"6/=&088&,2"&%""5/=&088&,2"&0/*$.0,$-%/&@2$+2&"Y$/,&,-50;(&C"&64/,&b4$",8;/,0.,&/-8:$%#&,2"6=&,-#",2".&@$,2&;-4(KRV
h"&,24/&05:-+0,"5&0&+-%+.","&*-8$+;&7-.&*.-6-,$%#&7-."$#%&$%:"/,6"%,&@2$8"&0**"08$%#&,-&,2"
"%,$."&*-*480,$-%&J;&"6*20/$Z$%#&0%&$%+84/$:"&0**.-0+2&,-&/-8:$%#&,2"&."*4J8$+[/&*.-J8"6/(
'/&'?0":&*.-*-/"5&%"@&."7-.6/=&2"&08/-&052"."5&,-&2$/&$%$,$08&*80,7-.6&,-&."60$%&*0.,&-7
,2"&9))!=&0&*-/$,$-%&2"&205&0.,$+480,"5&7.-6&,2"&-%/",&-7&2$/&*."/$5"%+;=&,24/&+-%/-8$%#&,2"
<-664%$/,&@$%#&-7&,2"&*-8$,$+08&/*"+,.46(&F%&2$/&?";%-,"&/*""+2&4*-%&J"+-6$%#&*."/$5"%,=&2"
*.$-.$,$Z"5&/,."%#,2"%$%#&,2"&*."/,$#"&-7&,2"&)4*."6"&)-:$",&0%5&,2"&1"-*8"[/&3"*4,$"/=&0%5
"%:$/$-%"5&0&/-:"."$#%&E;.#;Z/,0%&@$,2$%&0&."%"@"5&9))!(RQ&X2"&2$/,-.$+08=&8"#08&06J$#4$,;&-7
,2"&,".6&l/-:"."$#%,;=[&0/&C08?".&0.#4"/=&Hi&2"8*/&"Y*80$%&@2;&60%;&-7&,2-/"&@2-&*.-:"5&6-/,
0.5"%,&$%&0//".,$%#&,2"&l/-:"."$#%,;[&-7&,2"&4%$-%&."*4J8$+/&i&@"."&"b4088;&*0//$-%0,"&$%&,2"$.
-**-/$,$-%&,-&,2"&5$//-84,$-%&-7&,2"&)-:$",&9%$-%(KRa&F%5""5&'?0":=&4*-%&J"+-6$%#&*."/$5"%,=
+0*$,08$Z"5&-%&,2$/&06J$#4$,;(
NS
F,&$6*-.,0%,&,-&/,."//&,20,&,2"&5"J0,"&-:".&,2"&74,4."&-7&,2"&9))!&@0/&%-,&J",@""%&05:-U
+0,"/&-7&$,/&5$//-84,$-%&0%5&05:-+0,"/&-7&$,/&*."/".:0,$-%(&F%&70+,=&J-,2&k"8,/$%&0%5&B-.J0+2":
:-+08$Z"5&/4**-.,&7-.&0&."7-.6"5&9))!&$%&N\\S=&08,2-4#2&B-.J0+2":&0++4/"5&k"8,/$%&-,2".@$/"(
X2"&$6*-.,0%,&5;%06$+&@0/&-%"&-7&*-8$,$+08&*-80.$Z0,$-%&J",@""%&,2"&,@-&8"05"./=&0%5&,2"&$//4"
-7&/-:"."$#%,;&@0/&4/"5&J;&k"8,/$%&,-&*4,&B-.J0+2":&0%5&-,2".&+"%,.08&8"05"./&-%&,2"&5"7"%/$:"(R_
X2$/&*-80.$Z0,$-%&08/-&-++4.."5&0,&,2"&4%$-%&."*4J8$+&8":"8=&@2"."&+-%/".:0,$:"&7-.+"/&08$#%"5
@$,2&B-.J0+2":&$%&,2"&80,".&;"0./&*$,,"5&,2"6/"8:"/&0#0$%/,&,2-/"&"/*-4/$%#&/*""5$".&."7-.6&0/
05:-+0,"5&J;&k"8,/$%(
)4+2&0&*-@".&/,.4##8"&"%/4"5&J",@""%&,2"&<-664%$/,&10.,;&$%&E;.#;Z/,0%=&/,$88&2"05"5
J;&M0/08$":=&0%5&,2"&%"@8;&+."0,"5&/,0,"&$%/,$,4,$-%&-7&,2"&*."/$5"%+;=&@$,2&'?0":&0,&$,/&2"86(R\
F%&3"+"6J".&N\\S=&M0/08$":&."/$#%"5&7.-6&,2"&*-/$,$-%&-7&+20$.60%&-7&,2"&."*4J8$+0%&)4*."6"
)-:$",&088"#"58;&,-&+-%+"%,.0,"&-%&2$/&10.,;&0+,$:$,$"/=&0%5&J;&"0.8;&'*.$8&N\\N=&M0/08$":&205
08/-&."/$#%"5&7.-6&,2"&*-/$,$-%&0/&2"05&-7&,2"&."*4J8$+0%&<-664%$/,&10.,;&-.#0%$Z0,$-%(&`0,".
,20,&6-%,2=&0&7488&."-.#0%$Z0,$-%&-7&,2"&10.,;&,--?&*80+"&$%&@2$+2&:$.,4088;&,2"&"%,$."&8"05"./2$*
@0/&."*80+"5(OS
F%&2$/&7$./,&;"0.&0/&*."/$5"%,=&'?0":&/4++""5"5&$%&5"74/$%#&0&,"%/"&0,6-/*2"."&J;&$%+845U
$%#&%46".-4/&#.-4*/&$%&,2"&*-8$,$+08&*.-+"//(&h"&08/-&J"#0%&,-&$%$,$0,"&*-8$,$+08&0%5&"+-%-6$+
+20%#"/&@$,2$%&,2"&."*4J8$+(&h-@":".=&$%&'4#4/,&N\\N&2"&70+"5&0&+.$/$/(&X2"&+-4*&0#0$%/,
B-.J0+2":&$%&M-/+-@&@0/&0++-6*0%$"5&J;&0&/$6$80.&5.060&$%&>$/2?"?=&08J"$,&-%&0&/6088".
/+08"=&0#0$%/,&'?0":(&'/&$%&M-/+-@=&,2"&"77-.,&@0/&8"5&J;&6$8$,0.;&0%5&<-664%$/,&10.,;&-77$+$08/
@2-&/-4#2,&,-&*."/".:"&,2"&)-:$",&/,0,"&0%5&,2"&10.,;[/&6-%-*-8;&-7&*-@".(
F%&0&J-85&6-:"=&'?0":&/*-?"&-4,&0#0$%/,&,2"&+-4*&0%5&*.-+80$6"5&,20,&2"&@-485&5"7"%5
,2"&80@&-7&,2"&E;.#;Z&!"*4J8$+&-:".&,20,&-7&,2"&9))!(ON&X2$/&*.-6*,"5&0&,2."0,&7.-6&,2"&B?<21
L14,/+2&D6".#"%+;&<-66$,,""T&,20,&)-:$",&,.--*/&@-485&$%:05"&4%8"//&2"&.",.0+,"5&2$/&/,0,"U
6"%,(&X2"&/*8$,&20.5"%"5&J",@""%&'?0":=&@2-&/,--5&0#0$%/,&,2"&+-4*=&0%5&6"6J"./&-7&,2"
<-664%$/,&10.,;&$%&E;.#;Z/,0%=&@2-&/4**-.,"5&,2"&+-4*&$%&-.5".&,-&.",0$%&*-@".(&'?0":&+-4%U
,"."5&,2"&10.,;[/&0,,"6*,&,-&."$%/,0,"&,2"$.&*-@".&J;&"/,0J8$/2$%#&0&%"@&J-5;=&,2"&),0,"&<-4%+$8=
NN
4%5".&,2"&"Y"+4,$:"=&0%5&5"+80."5&2$/&H7488&/4**-.,K&7-.&1."/$5"%,&k"8,/$%&-7&!4//$0&0%5&,2"
."7-.6U6$%5"5&*."/$5"%,&-7&E0Z0?2/,0%=&I4./48,0%&I0Z0.J0;":(OR&X2"&+-4%,.;&5"+80."5&$%5"*"%U
5"%+"&]4/,&50;/&80,".=&-%&'4#4/,&ON=&N\\N(
h4/?";&+088/&,2$/&":"%,&H,2"&6-/,&/":"."&,"/,&-7&'?0":[/&*-8$,$+08&60,4.$,;K&0%5&%-,"/&,20,
-%8;&H>-.$/&k"8,/$%&06-%#&."*4J8$+0%&8"05"./&J"20:"5&@$,2&/4+2&."/-8:"&54.$%#&,2"&+-4*(KOO&F%&0
80,".&$%,".:$"@=&@2"%&0/?"5&0J-4,&,2"&":"%,/&-7&,2"&'4#4/,&+-4*=&'?0":&/0$5&,2"&7-88-@$%#&0J-4,
k"8,/$%A&HF&#-,&,-&?%-@&mk"8,/$%n&64+2&J",,".&54.$%#&,2"&,$6"&-7&6;&@-.?&$%&,2"&)4*."6"&)-:$",
-7&,2"&9))!&i&F&J"#0%&,-&7""8&."/*"+,=&/;6*0,2;&,[email protected]/&2$6&0%5&/4**-.,"5&2$6(KOe&h"&,2"."U
7-."&0**"0./&,-&20:"&"6*0,2$Z"5&@$,2&k"8,/$%&0%5&/4**-.,"5&2$6&*-8$,$+088;=&0%5&0/&0&."/48,&2"
"6".#"5&7.-6&,2"&+-4*&@$,2&/$#%$7$+0%,8;&04#6"%,"5&*-8$,$+08&04,2-.$,;(
F%&,2"&+-4%,.;[/&7$./,&5$."+,&*."/$5"%,$08&"8"+,$-%/&0&7"@&6-%,2/&80,".&L^+,-J".&NR=&N\\NT=
'?0":&.0%&4%-**-/"5(&^%+"&0#0$%&2"&@0/&+-%/$5"."5&,2"&+-%/"%/4/&+0%5$50,"&7-.&0&60]-.$,;&-7
*-8$,$+08&0%5&",2%$+&-.#0%$Z0,$-%/&$%&E;.#;Z/,0%(&X2$/&,$6"=&2-@":".=&2"&205&@"0,2"."5&0&,-4#2
/,-.6&0%5&/,0?"5&2$/&*-8$,$+08&74,4."&-%&."7-.6(&C2"."0/&'?0":&@0/&"8"+,"5&-%8;&%0..-@8;&J;
*0.8$06"%,&$%&N\\S&0,&0&,$6"&@2"%&2"&@0/&:$"@"5&0/&0&/4**-.,".&-7&B-.J0+2":&0%5&*"."1,.-$B46
2"&@0/&#$:"%&,2"&/,06*&-7&0**.-:08&^+,-J".&N\\N&07,".&20:$%#&/$5"5&@$,2&k"8,/$%(&h"&J"+06"&0
/;6J-8&7-.&,2"&E;.#;Z&%0,$-%=&0/&<-88$%/&5"/+.$J"/A&HF%&N\\N=&%-,&4%8$?"&`"+2&C08/"0=&j0+80:
h0:"8=&-.&>-.$/&k"8,/$%=&m'/?0.n&'?0":&i&/;6J-8$Z"5&,2"&J$.,2f-.&."J$.,2f-7&,2"&E;.#;Z
%0,$-%(KOV
'?0":&@0/=&2-@":".=&,2"&8"05".&-7&0&%"@8;&$%5"*"%5"%,&+-4%,.;&@$,2&%-&*.":$-4/&2$/,-.;
-7&$%5"*"%5"%+"(&F%&70+,=&,2"&+-88"+,$:"&6"6-.;&-7&,2"&*"-*8"&-7&E;.#;Z/,0%&@0/&J0/"5&-%
*0/,-.08&%-605$+&+48,4."=&%-,&,20,&-7&0&%0,$-%U/,0,"(&'?0":&,24/&70+"5&,2"&+2088"%#"&-7&7-.#$%#
*-8$+$"/&06"%0J8"&,-&0&5$:"./"&/-+$",;&,2"&$%+845"5&0&/$#%$7$+0%,&*-*480,$-%&-7&",2%$+&!4//$0%/
0%5&9ZJ"?/(OQ
I-,&-%8;&@0/&,2"&*-*480,$-%&5$:$5"5&",2%$+088;=&,2"&/?$88/&J0/"&-7&,2"&:0.$-4/&#.-4*/&08/-
:0.$"5(&^:".&,2"&+-4./"&-7&,2"&)-:$",&*".$-5=&!4//$0%/&5-6$%0,"5&,"+2%$+08&0%5&"%#$%"".$%#
*.-7"//$-%/&$%&,2"&%-.,2&-7&,2"&+-4%,.;=&@2$8"&9ZJ"?/&,"%5"5&,-&J"&"%#0#"5&$%&.",0$8&,.05"&$%&,2"
NR
/-4,2&0%5&E;.#;Z&2"85&*-/$,$-%/&$%&J4."04+.0,$+=&"54+0,$-%08=&0#.$+48,4.08=&0%5&+48,4.08&."086/(
X2$/&5$:$/$-%&-7&80J-.&#.054088;&"%#"%5"."5&,"%/$-%/(&)$%+"&,2"&*.-7"//$-%/&-7&,2"&E;.#;Z&5$5&%-,
."*."/"%,&60.?",UJ0/"5&-%"/=&,2";&@-..$"5&,20,&,2";&@-485&J"&4%0J8"&,-&+-6*","&$%&60.?",
+-%5$,$-%/(&9ZJ"?&."/"%,6"%,&@0/&7"5&J;&,2"&"+-%-6$+&5"*.$:0,$-%&-7&,2"&9ZJ"?/&$%&,2"&/-4,2
+-6*0."5&,-&,2"&@"08,2&0%5&$%:"/,6"%,&$%&,2"&%-.,2=&0/&@"88&0/&4%5".U."*."/"%,0,$-%&-7&9ZJ"?/&$%
8-+08&#-:".%$%#&J-5$"/(&F%&055$,$-%&,-&,2"/"&%-.,2U/-4,2&5$:$/$-%/=&/4J5$:$/$-%/&J0/"5&-%&E;.#;Z
."#$-%08&$5"%,$,$"/&5$:$5"5&,2"&%-.,2&-7&,2"&+-4%,.;(
'?0":[/&+2088"%#"&0/&0&%-.,2".%".&@0/&,-&+."0,"&*-8$+$"/&,20,&055."//"5&,2"&:0.$-4/
$%,"."/,/&@$,2$%&,2"&+-4%,.;&@$,2-4,&08$"%0,$%#&",2%$+&E;.#;Z&-.&2$/&-@%&%-.,2".%&%",@-.?/(&'/&0
7-4%50,$-%&7-.&2$/&*-8$+$"/=&'?0":&/,."//"5&0&+-%+"*,$-%&-7&%0,$-%08&$5"%,$,;&,20,&."/,"5&-%&+$,$U
Z"%/2$*&@2$8"&$%+-.*-.0,$%#&,.05$,$-%08&E;.#;Z&/;6J-8/&0%5&/,-.$"/(&W$./,=&0/&2"&5$5&$%&N\\S=&2"
6",&@$,2&:0.$-4/&#.-4*/&0%5&0:-$5"5&05-*,$%#&*-8$+$"/&,20,&@-485&74.,2".&/*8$,&,2"&+-4%,.;&08-%#
."#$-%08&-.&",2%$+&8$%"/(&F%&W"J.40.;&N\\R=&2"&0//"6J8"5&8"05"./&-7&,2"&%0,$-%08&+48,4.08&+"%,"./
0%5&/-+$08&-.#0%$Z0,$-%/&0%5&7-.6"5&,2"&6-."&$%/,$,4,$-%08$Z"5&H'//"6J8;&-7&,2"&1"-*8"/&-7
E;.#;Z/,0%=K&@2$+2&5."@&,-#",2".&8"05"./&7.-6&Ra&",2%$+&+-664%$,$"/&0%5�:"&,2"6&0&:-$+"&$%
,2"&*-8$,$+08&*.-+"//(Oa&h"&."/,-."5&$%5$#"%-4/&2-8$50;/&0%5&*80+"&%06"/=&0%5&2"&0,,"6*,"5&,-
$6*8"6"%,&80%#40#"&0%5&80%5&*-8$+;&,20,&70:-."5&,2"&",2%$+&E;.#;Z(&h-@":".=&2"&08/-&,--?
:0.$-4/&6"0/4."/&,-&0**"0/"&-,2".&",2%$+&#.-4*/(
X2"/"&*-8$+$"/=&2-@":".=&5$5&%-,&+-6"&@$,2-4,&-**-/$,$-%(&C2"%&%0,$-%08$/,/&$%&*0.8$0U
6"%,&*0//"5&."7-.6&6"0/4."/&,20,&70:-."5&",2%$+&E;.#;Z&$%&80%5&-@%"./2$*&0%5&4/"=&'?0":
J-858;&:",-"5&,2"&8"#$/80,$-%=&7"0.$%#&,20,&$,&@-485&$%+$,"&%-%UE;.#;Z&+$,$Z"%/(&X2.""&:"./$-%/&-7
0&80%5&+-5"&@"."&5.07,"5&$%&*0.8$06"%,&J"7-."&'?0":&/$#%"5&$,(O_&h-@":".=&,2"&N\\S&.$-,/&0%5&,2"
*".+"*,$-%&,20,&$%$,$08&5.07,/&-7&,2"&80%#40#"&0%5&80%5&*-8$+$"/&70:-."5&",2%$+&E;.#;Z&8"5&24%U
5."5/&-7&,2-4/0%5/&-7&2$#28;&/?$88"5&",2%$+&B".60%/&0%5&!4//$0%/&,-&78""&,2"&+-4%,.;(&'+4,"8;
0@0."&-7&,2"&"+-%-6$+&0%5&$%,"88"+,408&8-//&,20,&E;.#;Z/,0%&@-485&/477".&$7&$,&@"."&,-&8-/"&80.#"
*-.,$-%/&-7&,2"&!4//$0%&*-*480,$-%&$%&*0.,$+480.=&'?0":&@-.?"5&,-&208,&,2"$.&-4,78-@&J;&"/,0J8$/2U
$%#&0&)80:-%$+&9%$:"./$,;&7-.&!4//$0%&),45$"/&0%5&,2"&!4//$0%&80%#40#"=&06-%#&-,2".&*.-U
NO
#.06/(O\&'/&0&,"/,06"%,&,-&2$/&"77-.,/=&0&#-:".%6"%,U/*-%/-."5&*-88&$%&N\\R&/2-@"5&,20,&!4//$0%
."/*-%5"%,/&205&086-/,&0/&2$#2&0**.-:08&.0,$%#/&7-.&'?0":&0/&E;.#;Z&."/*-%5"%,/(&>;&N\\eP
N\\V=&"6$#.0,$-%&5$6$%$/2"5&+-%/$5".0J8;(eS
'?0":[/&*"./-%08&60%0#"6"%,&/,;8"&08/-&70+$8$,0,"5&,2"&$%+-.*-.0,$-%&-7&#.-4*/&0%5
-*$%$-%/&$%,-&,2"&*-8$+;&60?$%#&*.-+"//(&9*-%&J"+-6$%#&*."/$5"%,=&2"&/,0,"5A&HF&,2$%?&$,&$/&,2$/
5$:"./$,;&-7&0**.-0+2"/&,20,&@$88&70+$8$,0,"&-4.&+2-$+"&-7&,2"&+-.."+,&0+,$-%&/,.0,"#;&0%5&,0+,$+/(KeN
h"&/$#%"5&8$J".08&8"#$/80,$-%&088-@$%#&+$:$8&/-+$",;&-.#0%$Z0,$-%/&/4+2&0/&%"@/*0*"./=&%-%U
#-:".%6"%,08&-.#0%$Z0,$-%/=&0%5&-,2".&/-+$08&6-:"6"%,/&,-&78-4.$/2(&>;&W"J.40.;&N\\O=&,2"
o4/,$+"&M$%$/,.;&205&."#$/,"."5&RV_&/-+$08&-.#0%$Z0,$-%/=&0&7$#4."&@-485&."0+2&NSSS&J;&N\\a(
'?0":&@0/&08/-&-*"%&,-&,2"&"/,0J8$/26"%,&-7&6-5".0,"&."8$#$-4/&#.-4*/&0/&@"88&0/&5"6-+.0,$+
*0.,$"/&0%5&*-8$,$+08&0//-+$0,$-%/(eR
)"+-%5=&2"&+."0,"5&6",0*2-./&,-&J4$85&4%$,;&0.-4%5&,2"&%"@&E;.#;Z&%0,$-%U/,0,"(&'++-.5U
$%#&,-&h4/?";=&'?0":&@0/&,2"&*.$60.;&+.07,/60%&-7&,2"&+-4%,.;[/&%"@&%0,$-%08&$5"%,$,;(&h"&4/"5
,2"&*2.0/"&H)@$,Z".80%5&-7&<"%,.08&'/$0K&0/&0%&0,,"6*,&,-&+."0,"&0&,"6*-.0.;&%0,$-%08&$5"%,$,;(
X2$/&+-%+"*,$-%&-7&%0,$-%08&$5"%,$,;&."]"+,"5&,2"&+-664%$/,&0%5&04,2-.$,0.$0%&*0/,&J;&*80+$%#&,2"
+-4%,.;&$%&."80,$-%&,-&0%-,2".&6-."&70:-.0J8"&0%5&$5"08&6-5"8(&W-.&'?0":=&,2"&H)@$,Z".80%5&-7
<"%,.08&'/$0K&*.-:$5"5&7-.&0%&0*,&+-6*0.$/-%&J"+04/"&-7&,2"&6-4%,0$%-4/&0%5&80%58-+?"5&#"-U
#.0*2$+08&*-/$,$-%&-7&J-,2&+-4%,.$"/&0/&@"88&0/&,2"$.&*-8$+;&-7&%"4,.08$,;&/4..-4%5"5&J;&/,.-%#
."#$-%08&%"$#2J-./(eO
'?0":&08/-&4/"5&,2"&H)$8?&!-05K&6",0*2-.&,-&5"/+.$J"&E;.#;Z/,0%&0/&0&+-4%,.;&,20,
J.$5#"/&D0/,&0%5&C"/,(&'/&2"&*4,&$,A&HC"&@0%,&,-&J"&0&/6088&%0,$-%&-*"%&,-&,2"&@2-8"&@-.85=&]4/,
0/&@"&@"."&J"/$5"&,2"&-85&)$8?&!-05(Kee&`0,".=&$%&,2"&N\\S/=&2"&@-485&*4J8$/2&0&7-."$#%&*-8$+;
5-+,.$%"&"%,$,8"5&H3$*8-60+;&-7&,2"&)$8?&!-05=K&@2$+2&5",0$8/&'?0":[/&:$/$-%&7-.&,2"&."80,$-%/2$*
J",@""%&E;.#;Z/,0%&0%5&,2"&%"$#2J-.$%#&)$8?&!-05&+-4%,.$"/(&F%&,2"/"&/*""+2"/&0%5&5-+46"%,/=
2"&/,."//"5&,20,&,2"&6$Y&-7&'/$0%&0%5&D4.-*"0%&60?"/&E;.#;Z/,0%&4%$b4"A&Hh$/,-.;&20/&0..0%#"5
7-.&4/&,-&J"&0%&060Z$%#&0608#06&-7&,2"&'/$0%&0%5&,2"&D4.-*"0%A&$%&-4.&,2$%?$%#=&$%&-4.&"6-U
,$-%08&60?"4*=&$%&-4.&J"20:$-.(KeV&'/&@$88&J"&5$/+4//"5&J"8-@=&'?0":[/&"6J.0+"&-7&$60#"/&8$?"
Ne
,2"&H)@$,Z".80%5&-7&<"%,.08&'/$0K&0%5&,2"&H)$8?&!-05K&@0/&5"/$#%"5&,-&0**"08&,-&088&$%,"."/,/f
,2"&C"/,=&,2"&$%,".%0,$-%08&+-664%$,;&$%&#"%".08=&."#$-%08&-.#0%$Z0,$-%/=&$,/&<"%,.08&'/$0%
%"$#2J-./=&!4//$0=&0%5&<2$%0(
M0$%,0$%$%#&/,0J$8$,;&0%5&$6*.-:$%#&",2%$+&."80,$-%/&@"."&'?0":[/&7$./,&*.$-.$,$"/=&0%5&2"
."$,".0,"5&,2"6&0,&086-/,&":".;&-++0/$-%&$%&2$/&"0.8;&/*""+2"/(&h"&08/-&"Y*8$+$,8;&-4,8$%"5&0
/,0#"5&0**.-0+2&,-&2$/&*-8$+$"/A&HF7&@"&0."&4%0J8"&,-&$6*.-:"&$%,".",2%$+&."80,$-%/&0%5&0+2$":"
+$:$+&20.6-%;=&,2"%&@"&@$88&70$8&,-&$6*8"6"%,&0&/$%#8"&"+-%-6$+&*.-#.06(KeQ&X24/=&@2$8"&60$%U
,0$%$%#&+$:$+&20.6-%;&@0/&2$/&7$./,&*.$-.$,;=&,.0%/7-.60,$-%&-7&,2"&"+-%-6;&@0/&0%&4%5$/*4,0J8"
/"+-%5(
E;.#;Z/,0%&$/=&2-@":".=&0&/6088=&80%58-+?"5&+-4%,.;&@$,2&7"@&%0,4.08&."/-4.+"/=&/-&2$/
"+-%-6$+&*.-#.06&70+"5&*.-7-4%5&+2088"%#"/(&'8."05;&$%&N\\S&,2"&"+-%-6;&@0/&$%&+.$/$/=&@$,2
*.$+"/&.$/$%#&0%5&/,-."&/2"8:"/&"6*,;(&^%"&-7&,2"&+-4%,.;[/&60$%&0//",/=&$,/&24#"&2;5.-"8"+,.$+
#"%".0,$-%&*-,"%,$08&54"&,-&$,/&@0,".&."/".:"/=&@0/&/".$-4/8;&4%5".5":"8-*"5(&X2"&+-4%,.;&08/-
5"*"%5"5&-%&!4//$0&0%5&9ZJ"?$/,0%&7-.&,.0%/*-.,&.-4,"/&0%5&"%".#;&."/".:"/(&'/&$7&,2"&)-:$",
8"#0+;&-7&,2"&+-660%5&"+-%-6;&0%5&,2"&+-4%,.;[/&5"0.,2&-7&%0,4.08&."/-4.+"/&@"."&%-,&"%-4#2=
24#"&%0,4.08&5$/0/,"./&2$,&,2"&+-4%,.;&$%&N\\R=&$%+845$%#&0&60//$:"&"0.,2b40?"&L/":"%&-%&,2"
!$+2,".&/+08"T&$%&o08080J05&0%5&^/2&,20,&8"7,&,"%/&-7&,2-4/0%5/&-7&*"-*8"&@$,2-4,&/2"8,".&0%5
,-.."%,$08&.0$%/&0%5&645/8$5"/&,20,&5060#"5&NS=SSS&2-6"/&0%5&8"7,&_S=SSS&*"-*8"&2-6"8"//(ea
X2"&"6J.0+"&-7&0&*.-#.06&-7&.0*$5&"+-%-6$+&8$J".08$Z0,$-%&+0%&J"&+."5$,"5&80.#"8;&,-
'?0":[/&8"05"./2$*(e_&h$/&%46".-4/&*.$-.$,$"/&$%+845"5&*.$+"&8$J".08$Z0,$-%=&208,$%#&/4J/$5$"/&,-
6-/,&/,0,"&"%,".*.$/"/=&$%,.-54+$%#&0&+-%:".,$J8"&+4.."%+;=&0%5&*.$:0,$Z0,$-%(&'?0":&J"8$":"5&,20,
/4++"//748&."7-.6&6"0/4."/&@-485&J"&050*,"5&,-&+-%5$,$-%/&-%&,2"&#.-4%5&0/&5",".6$%"5&J;&8-+08
8"05"./&0%5&#-:".%-./&L4B$01T(&^%8;&$%&,2$/&@0;&@-485&."#$-%08&$%,"."/,/&J"&+-%/$5"."5&$%&,2"
*.-+"//(&'55$,$-%088;=&05:$+"&7.-6&."#$-%08&8"05"./&@-485&2"8*&,2"&$%"Y*".$"%+"5&*."/$5"%,
+."0,"&0%5&$6*8"6"%,&."7-.6/(e\&F%&/2-.,=&'?0":&."8$"5&-%&+-%/"%/4/&0%5&."#$-%08&$%*4,&,-&+0..;
-4,&2$/&"+-%-6$+&."7-.6&*.-#.06(
NV
X2"&+-6*-%"%,&-7&"+-%-6$+&*-8$+;&,20,&."+"$:"5&,2"&6-/,&$%,".%0,$-%08&0,,"%,$-%=&2-@U
":".=&@0/&,2"&"Y,"%,&-7&C"/,".%&0%5&$%,".%0,$-%08&5":"8-*6"%,&0//$/,0%+"&2"&0,,.0+,"5(&'?0":
."+"$:"5&0&80.#"&FMW&/,0J$8$Z0,$-%&8-0%&,-&088":$0,"&,2"&/2-+?&-7&8"0:$%#&,2"&.4J8"&+4.."%+;&Z-%"=
@2$+2&E;.#;Z/,0%&@0/&,-&5-&$%&M0;&N\\O(&F%&0,,.0+,$%#&$%,".%0,$-%08&0$5=&'%5"./-%&0.#4"/&,20,
H'?0":&@0/&6-,$:0,"5&$%&*0.,&J;&."08$Z0,$-%/&-7&E;.#;Z/,0%[/&8$6$,"5&."/-4.+"&*-,"%,$08&0%5&$,/
$%0++"//$J$8$,;=&0%5&,24/&,--?&,2"&:$"@&,20,&-%8;&J;&05-*,$%#&/4+2&0&*.-U."7-.6&*-/$,$-%&$%&05U
:0%+"&-7&60%;&%"$#2J-.$%#&/,0,"/&+-485&2$/&+-4%,.;&2-*"&,-&0,,.0+,&$%:"/,6"%,&0%5&"+-%-6$+
/4**-.,&7.-6&,2"&-4,/$5"&@-.85(KVS&>;&,2"&"%5&-7&N\\O=&C"/,".%&5-%-./&205&*8"5#"5&086-/,&2087&0
J$88$-%&5-880./&$%&0//$/,0%+"&,-&,2"&+-4%,.;(
'%&"0.8;&$%5$+0,-.&-7&,2"&$6*-.,0%+"&-7&'?0":[/&.-8"&0/&/,0,"/60%&+06"&"0.8;&$%&2$/
,"%4."(&F%&N\\N=&54.$%#&,2"&'4#4/,&0,,"6*,"5&*4,/+2=&2"&205&+088"5&-%&,2"&$%,".%0,$-%08&+-664U
%$,;=&$%+845$%#&,2"&9I=&,-&0//$/,&,2"&+-4%,.;A&HC"&0."&0&/6088&/,0,"(&C"&20:"&%-&0.6;=&J4,&@"&@$88
5"7"%5&-4.&/-:"."$#%,;&0%5&-4.&7.""5-6(&h-@":".=&@"&20:"&%-&+20%+"&-7&@$,2/,0%5$%#&m,2"
)-:$",n&0.6;&0.6"5&@$,2&,0%?/&0%5&0$.*80%"/(&<0%&;-4&+0868;&/$,&J;&0%5&@0,+2&0/&-4.&7.""5-6&$/
,.06*8"5&0%5&-4.&8"#088;&"8"+,"5&/,0,"&04,2-.$,$"/&0."&-:".,2.-@%dKVN&X24/&7.-6&,2"&-4,/",&'?0":
4%5"./,--5&,2"&$6*-.,0%+"&-7&."0+2$%#&-4,&,-&,2"&$%,".%0,$-%08&+-664%$,;&#$:"%&,2"&+-4%,.;[/
#"-*-8$,$+08&0%5&6$8$,0.;&@"0?%"//(
C2$8"&2"&7-.#"5&,$"/&@$,2&C"/,".%&+-4%,.$"/&0%5&$%,".%0,$-%08&7$%0%+$08&$%/,$,4,$-%/=
."80,$-%/&@$,2&!4//$0&."60$%"5&-7&4,6-/,&$6*-.,0%+"=&%-,&-%8;&J"+04/"&-7&E;.#;Z/,0%[/&"+-U
%-6$+&5"*"%5"%+"&-%&!4//$0&0%5&,2"&!4//$0%&*-*480,$-%&8$:$%#&$%&E;.#;Z/,0%=&J4,&08/-&J"+04/"
-7&!4//$0[/&/"%/$,$:$,;&-:".&E;.#;Z/,0%[/&,$"/&,-&,2"&C"/,=&0%5&$%&*0.,$+480.&,-&,2"&CX^&0%5
I'X^(&F%&$%,".:$"@/&@$,2&,2"&!4//$0%&6"5$0=&'?0":&."*"0,"58;&."0//4."5&,2"&!4//$0%&*-*480U
,$-%A&HF&@-485&8$?"&,-&7$.68;&/,."//&,20,&%-&60,,".&@20,&%"@&,$"/&@"&"/,0J8$/2&$%&,2"&C"/,&0%5&D0/,=
%-&60,,".&2-@&#."0,&-4.&4.#"&,-&6".#"&$%,-&,2"&"0/,".%=&@"/,".%=&-.&@-.85@$5"&"+-%-6$+&+-664U
%$,;=&-4.&,$"/&@$,2&!4//$0&0%5&-4.&7.$"%5/2$*&0%5&+--*".0,$-%&@$,2&,2"&!4//$0%&*"-*8"&@$88&08@0;/
J"&/*"+$08&0%5&@"&@$88&#$:"&,2$/&*.$-.$,;(KVR&F%&70+,=&k"8,/$%[/&7$./,&7-."$#%&:$/$,&0/&*."/$5"%,&@0/&,-
E;.#;Z/,0%=&0%5&,2"&,@-&+-4%,.$"/&/$#%"5&0&,."0,;&-7&7.$"%5/2$*&0%5&+--*".0,$-%&$%&N\\N(
NQ
'?0":&08/-&+-%/$/,"%,8;&0,,.$J4,"5&#."0,&$6*-.,0%+"&,-&."80,$-%/&@$,2&-,2".&6"6J"./&-7
,2"&<-66-%@"08,2&-7&F%5"*"%5"%,&),0,"/=&,2"&/4++"//-.&-.#0%$Z0,$-%&-7&,2"&)-:$",&9%$-%(&h"
4/"5&,2"&$60#"&-7&#.0:$,0,$-%08&*488&,-&4%5"./+-."&,2"&/,."%#,2&0%5&$6*-.,0%+"&-7&,2"&<F)&,-
E;.#;Z/,0%A&HC"&m,2"&<F)&+-4%,.$"/n&0."&8$?"&,2"&*80%",/&-7&,2"&/-80.&/;/,"6=&@2$+2&+0%&%":".
5.$7,&0*0.,&J"+04/"&,2";&0."&2"85&,-#",2".&J;&4%$:"./08&7-.+"/&-7&#.0:$,;(KVO&'?0":&/0@&,2"&%""5
7-.&#--5&."80,$-%/&@$,2&%"$#2J-./&/4+2&0/&9ZJ"?$/,0%&0%5&E0Z0?2/,0%&7-.&+.-//UJ-.5".&,.05"&0%5
7-.&"%".#;&."/-4.+"/=&$%&*0.,$+480.(
!!!!!!
F%&N\\RPN\\O=&'?0":&+-%7.-%,"5&6;.$05&+2088"%#"/&-:".&,2"&"+-%-6;=&7-."$#%&*-8$+;=&0%5
5-6"/,$+&*-8$,$+/(&X2"&,0J8"&J"8-@&2$#28$#2,/&,2"&60]-.&5":"8-*6"%,/&54.$%#&,2"&*".$-5=&0%5&,2"
."60$%5".&-7&,2$/&/"+,$-%&"Y*0%5/&-%&2-@&,2"/"&":"%,/&0%5&*-8$+$"/&;$"85"5&/$#%$7$+0%,&+208U
8"%#"/&0%5&-J/,0+8"/&,20,&$%784"%+"5&,2"&":-84,$-%&-7&'?0":[/&8"05"./2$*&/,.0,"#$"/(
E;.#;Z/,0%&J"+-6"/&0&6"6J".&-7&,2"&C-.85&>0%? (((((((((((((((((((((((((((((((((((()"*,"6J".&N\\R
10.8$06"%,&05-*,/&*80%&7-.&*.$:0,$Z0,$-%&-7&)MD/ ((((((((((((((((((((((((((((((((((((((3"+"6J".&N\\O
I"#-,$0,$-%/&-:".&+-%/,$,4,$-%&0%5&"8"+,-.08&/;/,"6 (((((((((((((((((((((((((((((((((((X2.-4#2-4,&N\\O
3$*8-60,$+&."80,$-%/&0%5&"6J0//$"/&"/,0J8$/2"5 (((((((((((((((((((((((((((((((((((((((((X2.-4#2-4,&N\\O
E;.#;Z/,0%&$%,.-54+"/&,2"&/-6&L8"0:"/&,2"&.4J8"&+4.."%+;&Z-%"T (((((((((((((((M0;&N\\O
E;.#;Z/,0%&05-*,/&FMW&/,0J$8$Z0,$-%&*.-#.06 ((((((((((((((((((((((((((((((((((((((((((((M0;&N\\O
C-.85&>0%?&0**.-:"/&0%&F6*-.,&!"20J$8$,0,$-%&<."5$,&LpQS&6$88$-%T (((((((((M0;&N\\O
C2$8"&60%;&-7&,2"&*-8$+$"/&20:"&J""%&,-4,"5&0/&/$#%$7$+0%,&*-/$,$:"&/,"*/&-.&H/4++"//"/=K&0&+8-/".
8--?&.":"08/&-J/,0+8"/&,20,&@-485&80,".&+-%/,.0$%&'?0":[/&-*,$-%/&0%5&,2"&+-4./"&-7&,2"&+-4%,.;(
^%&,2"&"+-%-6$+&7.-%,=&-%"&-7&,2"&6-/,&+-%,.-:"./$08&."7-.6/=&,2"&*.$:0,$Z0,$-%&-7&/,0,"U
2"85&"%,".*.$/"/=&J"#0%&$%&N\\RPN\\O(&)":"."&*.-J8"6/=&$%+845$%#&$%780,$-%=&0&60//$:"&5"+8$%"&$%
$%54/,.$08&0%5&0#.$+48,4.08&*.-54+,$-%=&0%5&088"#0,$-%/&-7&+-..4*,$-%=&*80#4"5&,2"&"+-%-6$+
."7-.6&*.-+"//&$%&,2"&"0.8;&N\\S/(&3"/*$,"&/$#%$7$+0%,&-**-/$,$-%=&'?0":&0,,"6*,"5&,-&8"#$,$6$Z"
,2"&+-%,$%40,$-%&-7&,2"/"&*0$%748&"+-%-6$+&."7-.6/&4/$%#&."7"."%+"/&,-&,2"&"Y,".%08&"%:$.-%6"%,A
Na
HF,&$/&6;&+-%:$+,$-%&,20,&.05$+08$Z0,$-%&-7&,2"&."7-.6/&$/&,2"&-%8;&+-.."+,&@0;&7-.E;.#;Z/,0%(&'&+-6*."2"%/$:"&0%5&5"+$/$:"&J."0?,2.-4#2&$%&":".;&+-4./"&-7&,2"."7-.6&$/&."b4$."5=&@2$8"&@"&"%]-;&/".$-4/&/4**-.,&7.-6&<F)&+-4%,.$"/=&,2"&@-.85[/"+-%-6$+088;&5":"8-*"5&%0,$-%/=&0%5&$%,".%0,$-%08&7$%0%+"&-.#0%$Z0,$-%/(&C"&20:"%-&.$#2,&,-&6$//&,2$/&2$/,-.$+&-**-.,4%$,;(KVe
X2"&$%,.-54+,$-%&-7&,2"&E;.#;Z&+4.."%+;=&,2"&/-6=&$%&M0;&N\\O&@0/&08/-&-7,"%&4/"5&0/&0%
"Y06*8"&-7&,2"&*.-#."//$:"&%0,4."&-7&,2"&'?0":&."#$6"(&'?0":&70$8"5=&2-@":".=&,-&+-%/48,&@$,2
."#$-%08&%"$#2J-./&J"7-."&$%,.-54+$%#&,2"&/-6=&0&6-:"&,20,&@0/&/4J/"b4"%,8;&+-%/$5"."5&0
/".$-4/&5$*8-60,$+&6$//,"*(&C2$8"&,2"&$%,"%,&-7&,2$/&*-8$+;&@0/&,-&7.""&E;.#;Z/,0%&7.-6&!4//$0[/
0++"8".0,$%#&$%780,$-%&0%5&08/-&,-&088-@&,2"&+-4%,.;&,-&0,,.0+,&/$#%$7$+0%,&$%,".%0,$-%08&0$5&,-
/,0J$8$Z"&$,/&+4.."%+;=&%"$#2J-.$%#&+-4%,.$"/&*".+"$:"5&$,&0/&0&4%$80,".08&0%5&4%7.$"%58;&0+,(&X2"
$%,.-54+,$-%&-7&,2"&/-6&08/-&/$#%$7$+0%,8;&206*"."5&,.05"(&E0Z0?2&0%5&9ZJ"?&,.05"./&7-4%5&8$,,8"
4/"&7-.&,2"&/-6=&0%5&5$/.4*,$-%&-7&+.-//UJ-.5".&,.05"&24.,&,2"&E;.#;Z&"+-%-6;(&X2"&9ZJ"?&0%5
E0Z0?2&."#$6"/&."/*-%5"5&7-.+"7488;&@$,2&J-.5".&+8-/$%#/&0%5&-,2".&6"0/4."/(&C2$8"&'?0":
0*-8-#$Z"5&,-&J-,2&8"05"./=&,2"&$%+$5"%,&4%5"./+-."5&,2"&5""*8;&.--,"5&/4/*$+$-%&-7&'?0":[/
@"/,".%U-.$"%,"5&*-8$+$"/&J;&."#$-%08&%"$#2J-./(VV
^%&,2"&5-6"/,$+U*-8$,$+08&7.-%,=&,@-&,."%5/&0%5&":"%,/&@-485&#."0,8;&$6*0+,&74,4."
*-8$,$+08&."80,$-%/&$%&,2"&+-4%,.;(&W$./,=&'?0":&5"+"%,.08$Z"5&*-8$,$+08&*-@".&0/&0&6"0%/&-7&J4$85U
$%#&."80,$-%/&@$,2&."#$-%08&#-:".%-./&L4B$01T&0%5&7-.#$%#&*-8$+$"/&,20,&."*."/"%,"5&,2"&%""5/&-7
,2"&8-+08&+-664%$,$"/(&h"&0+2$":"5&,2$/&*.$60.$8;&J;&,2"&H)-:$",U/,;8"&*.0+,$+"&-7&*.-6-,$%#
m."#$-%08&8"05"./n&7.-6&@$,2$%(KVQ&'?0":&2$6/"87&056$,,"5&,2$/&$%&0%&$%,".:$"@&$%&N\\eA
HF%5""5=&60%;&?";&*-/$,$-%/&0."&/,$88&-++4*$"5&J;&,2"&l-85(.5([&F7&;-4&5-&%-,&?""*,2"&."08$,;&-7&0&/$,40,$-%&$%&6$%5=&2-@":".=&;-4&+0%&5"/,.-;&":".;,2$%#(&`",[/&/0;&F0**-$%,&0&5"6-+.0,=&J4,&2"&$/&%-,&0++"*,"5&$%&,2"&."#$-%(&h"&@$88&J"&."]"+,"5(&D:".;U,2$%#&@$88&/,-*(&X2"&."7-.6/&@$88&/,-*(&F,&$/&"0/$".&7-.&6"&,-&5$."+,&0&+-%/".:0,$:"0?$6&,20%&,-&0**-$%,&0&5"6-+.0,&0%5&,2"%&/477".&J"+04/"&,2"&*"-*8"&5-&%-,&4%5".U/,0%5&-.&0++"*,&2$6(KVa
h"&08/-&J"#0%&0**-$%,$%#&088$"/&0%5&7.$"%5/&,-&,-*&*-8$,$+08&*-/$,$-%/(&W-.&"Y06*8"=&W"8$Y&E48-:=
@2-&*80;"5&0%&$%,"#.08&.-8"&$%&"%/4.$%#&'?0":[/&/"+4.$,;&54.$%#&,2"&+-4*&-.5"08=&@0/&0**-$%,"5
,-&,2"&*-/$,$-%&-7&2"05&-7&,2"&M$%$/,.;&-7&F%,".%08&'770$./(V_&'?0":&+2-/"&,2"/"&/,.0,"#$"/&-:".
N_
-,2"./=&/4+2&0/&0**-$%,$%#&6-."&8$J".08&."7-.6"./=&,-&60$%,0$%&/,0J$8$,;&0%5&"%/4."&,20,&2"&205&,2"
-**-.,4%$,;&,-&+-%,$%4"&08-%#&,2"&."7-.6&,.0+?(
'&/"+-%5&2$#28;&/$#%$7$+0%,&":"%,&-%&,2"&5-6"/,$+U*-8$,$+08&7.-%,&-++4.."5&54.$%#&%"#-,$0U
,$-%/&@$,2&."#$-%08&8"05"./&7.-6&,2"&%-.,2&0%5&,2"&/-4,2&-:".&,2"&"/,0J8$/26"%,&-7&0%&"8"+,-.08
/;/,"6&$%&N\\O(&^**-/$,$-%&,-&'?0":&7.-6&7-.6".&<-664%$/,/=&06-%#&-,2"./&$%&*0.8$06"%,=
"Y$/,"5&7.-6&,2"&-%/",=&@2"%&,2";&J8-+?"5&,2"&+"%,.088;U+-%,.-88"5&Xj&0%5&.05$-&J.-05+0/,/&-7
'?0":[/&/@"0.$%#&$%&-0,2&,-&*.-,"/,&2$/&:$+,-.;(&^**-/$,$-%&J"+06"&*0.,$+480.8;&2"0,"5&54.$%#&,2"
%"#-,$0,$-%/&-:".&0&%"@&+-%/,$,4,$-%=&."/48,$%#&$%&0&/,.4##8"&J",@""%&,2"&"Y"+4,$:"&J.0%+2&0%5
*0.8$06"%,&$%&N\\RPN\\O(&'?0":&7"0."5&*0.8$06"%,0.;&/4*."60+;&J"+04/"&2"&7"8,&,20,&."#$-%08
#.-4*/&0%5&%",@-.?/&@-485&J"&*$,,"5&0#0$%/,&"0+2&-,2".=&8"05$%#&,-&+-%78$+,&J",@""%&,2"&%-.,2
0%5&,2"&/-4,2(V\&h"&60%0#"5&."80,$-%/&@$,2&,2"&*0.8$06"%,&54.$%#&,2$/&,$6"&$%&*0.,&J;&7-.#$%#&0%
$%7-.608&*0+,&@$,2&,2"&/*"0?".&-7&,2"&0//"6J8;=&@2-&205&2$/&-@%&/$#%$7$+0%,&*-@".&J0/"=&@2$+2
2"&@0/&0J8"&,-&4/"&,-&."/,.0$%&-**-/$,$-%&,-&'?0":[/&*-8$+$"/(QS
X"%/$-%/&J",@""%&'?0":&0%5&,2"&*0.8$06"%,0.;&-**-/$,$-%&+06"&,-&0&2"05&54.$%#&%"#-U
,$0,$-%/&-:".&,2"&"8"+,-.08&/;/,"6(&3$/*4,"/&$%+845"5&2-@&+0%5$50,"/&/2-485&J"&%-6$%0,"5=&2-@
"8"+,-.08&+-66$//$-%/&/2-485&J"&/"8"+,"5=&0%5&,2"&%46J".&-7&/"0,/&0%5&/,.4+,4."&-7&*0.8$06"%,(&'
+-6*8"Y&J0.#0$%$%#&*.-+"//&"%/4"5&J",@""%&+"%,.08&0%5&."#$-%08&8"05"./=&@$,2&%0/+"%,&*-8$,$+08
*0.,$"/&08/-&*80;$%#&0&.-8"(&X2$/&*.-+"//&2$#28$#2,"5&'?0":[/&8"05"./2$*&/,.0,"#;A&@2$8"&2"&+-485
20:"&+0:"5&$%,-&."#$-%08&8"05"./[&5"60%5/&-.&+-".+"5&,2"6&$%,-&05-*,$%#&2$/&*.-*-/08/=&2"&-7,"%
+2-/"&,2"&*0,2&-7&-77".$%#&+-4%,".*.-*-/08/&0%5&+-6*.-6$/"/(&'?0":&+8"0.8;&0,,0+2"5&2$#2".
*.$-.$,;&,-&,2"&*."/".:0,$-%&-7&*-8$,$+08&/,0J$8$,;&,20%&,-&0+2$":$%#&2$/&-*,$608&-4,+-6"(QN
X24/=&-:".&,2"&7$./,&,@-&;"0./&-7&2$/&*."/$5"%+;=&'?0":&60%0#"5&,-&*.":"%,&",2%$+&+-%U
78$+,=&6$%$6$Z"&,"%/$-%/&@$,2&!4//$0&0%5&9ZJ"?$/,0%=&0%5&"6J0.?&-%&5.060,$+&"+-%-6$+&."7-.6/(
h"&4/"5&J0.#0$%$%#&0%5&%"#-,$0,$%#&,-&7-.#"&+-6*.-6$/"/&06"%0J8"&,-&/-6"&"Y,"%,&,-&J-,2&,2"
%-.,2&0%5&,2"&/-4,2=&0%5&+."0,"5&/,-.$"/&7-.&$%,".%0,$-%08&045$"%+"/&,-&0,,.0+,&7-."$#%&0$5&0%5
J080%+"&%"$#2J-.$%#&$%,"."/,/(
N\
k",&N\\O&@0/&0&+.4+$08&;"0.(&'/&0&."/48,&-7&,2"&":"%,/&0%5&+2088"%#"/&-7&,2"&"0.8;&;"0./=&0
+20%#"&$%&'?0":[/&8"05"./2$*&,0+,$+/&J"+06"&:$/$J8"&J;&N\\e(&C2$8"&2"&"%,"."5&,2"&*."/$5"%+;&$%
60%;&@0;/&0/&0%&l-4,/$5".=[&$%,"%,&-%&$6*8"6"%,$%#&-:".0.+2$%#&"+-%-6$+&0%5&*-8$,$+08&."7-.6/=
2"&b4$+?8;&/2$7,"5&,-&J"+-6$%#&0%&l$%/$5".=[&"6J.-$8"5&$%&0&"8$,"&/,.4##8"&7-.&*-8$,$+08&/4.:$:08&$%
,2"&6$5/,&-7&0&+-880*/$%#&"+-%-6;(&M-."-:".=&$%&N\\RPN\\O&'?0":&0%5&-,2".&2$#2U8":"8&#-:".%U
6"%,&-77$+$08/&J"+06"&"6J.-$8"5&$%&0&+-%,.-:"./$08&+-..4*,$-%&/+0%508&,20,&@-485&/-4.&'?0":[/
."*4,0,$-%&0%5&+0/,&5-4J,&-%&2$/&$%,"%,$-%/(QR
'?0":&@0/&08/-&J"+-6$%#&$%+."0/$%#8;&,2."0,"%"5&J;&*0.8$06"%,0.;&-**-%"%,/&@2-&@"."
0#0$%/,&."7-.6(&W-.6".&<-664%$/,/&@"."&."84+,0%,&,-&70+"&.""8"+,$-%&$%&0&%"@8;&+."0,"5&J$+06U
".08&8"#$/80,4."=&@2$8"&."7-.6"./&@2-&$%$,$088;&/$5"5&@$,2&'?0":&@"."&#.-@$%#&$%+."0/$%#8;
5$/$884/$-%"5&@$,2&,2"&/,0,"&-7&,2"&"+-%-6;(QO&9%5".&,2."0,&-7&J"$%#&0++4/"5&-7&+-..4*,$-%&0%5
6087"0/0%+"&J;&,2"/"&#.-4*/=&'?0":&5"+$5"5&,-&/,.$?"&*.""6*,$:"8;&0,&2$/&*-8$,$+08&-**-%"%,/&/-
,20,&2"&+-485&."#0$%&+"%,.08&04,2-.$,;(&h"&,24/&H"%#$%""."5&0&b4$",&.":-84,$-%K&$%&N\\e&J;&5$/U
J0%5$%#&*0.8$06"%,&0%5&*4,,$%#&2$/&-@%&8-;08&/4**-.,"./&7.-6&2$/&."#$-%&$%,-&8"#$/80,$:"&*-/$U
,$-%/(Qe&'?0":&088"#"58;&4/"5&J.$J".;&$%&,2"&*.-+"//=&*.-6$/$%#&088$"/&6-%",0.;&0%5&$%U?$%5
."@0.5/&$%&"Y+20%#"&7-.&/4**-.,&$%&,2"&%"@&*0.8$06"%,(QV
C2$8"&,2"&%"@&*0.8$06"%,0.;&"8"+,$-%/&@"."&7$%088;&2"85&$%&W"J.40.;&N\\V&0%5&]45#"5&,-
J"&H70$.&0%5&7.""K&J;&,2"&$%,".%0,$-%08&+-664%$,;=&$,&@0/&+8"0.&,20,&/".$-4/&+-..4*,$-%&0%5&60U
%$*480,$-%&205&*80#4"5&,2"&*.-+"//(&^%"&-7&,2"&*.$60.;&."/48,/&-7&,2"&J0.#0$%/&/,.4+?&-:".&"8"+U
,-.08&."7-.6&L5"/+.$J"5&0J-:"T&@0/&,20,&,2"&8"#$/80,$-%&,2@0.,"5&*-8$,$+08&*0.,$"/&0%5&%0,$-%08U
8":"8&+0%5$50,"/&0%5�:"&+-%+"//$-%/&,-&."#$-%08&8"05"./&0%5&8-+08&J4/$%"//6"%(&F%&0,,"6*,$%#
,-&*.-6-,"&2$/&-@%&8-;08&088$"/&$%&*0.8$06"%,=&2"&74.,2".&8"#$,$6$Z"5&%-%U+"%,.08&*-@".(
F%&055$,$-%&,-&,2"&*0.8$06"%,0.;&"8"+,$-%/&-7&N\\V=&*."/$5"%,$08&"8"+,$-%/&,20,&/06"&;"0.
+-%7$.6"5&'?0":[/&/,.0,"#;&7-.&+-%/-8$50,$%#&"Y"+4,$:"&*-@".&0%5&."60$%$%#&$%&-77$+"(&F%/,"05&-7
2-85$%#&"8"+,$-%/&$%&^+,-J".&N\\Q&0/&/+2"548"5=&2"&+088"5&7-.&0&."7"."%546&$%&80,"&N\\V=&0**0.U
"%,8;&J"+04/"&2"&7"0."5&,20,&2$/&*-*480.$,;&@-485&%-,&8-%#&/4.:$:"&,2"&5",".$-.0,$%#&"+-%-6$+
/$,40,$-%(&h"&08/-&,$6"5&,2"&."7"."%546&,-&-++4.&54.$%#&,2"&NSSSU;"0.&+"8"J.0,$-%&-7&,2"&E;.#;Z
RS
%0,$-%08&2".-=&M0%0/=&54.$%#&@2$+2&,$6"&'?0":&"%]-;"5&#."0,".&/4**-.,&06-%#&,2"&*-*480,$-%(
'7,".&*0.8$06"%,&."74/"5&,-&/0%+,$-%&,2"&."7"."%546=&,-&'?0":[/&5$/0**-$%,6"%,=&$,&088-@"5&,2"
"8"+,$-%/&,-&J"&."/+2"548"5&7-.&3"+"6J".&N\\V=&@2$+2&/0,$/7$"5&'?0":[/&,$6$%#&+-%+".%(&X24/
'?0":&.0%&0#0$%/,&M0/08$":&0/&@"88&0/&0&7-.6".&*0.8$06"%,0.;&/*"0?".=&%"$,2".&-7&@2-6&@0/&:".;
*-*480.(&'/&0&."/48,=&2"&@-%&-:".&aSc&-7&,2"&:-,"(QQ&C2$8"&'?0":&8-/,&RSc&-7&,2"&"8"+,-.0,"&$%
,2"&/-4,2&,20,&205&*.":$-4/8;&:-,"5&7-.&2$6=&2"&205�$%"5&*-*480.$,;&$%&,2"&%-.,2&@2"."&2"&0%5
2$/&@$7"&@"."&7.-6&J;&/,077$%#&,2"&056$%$/,.0,$-%&@$,2&706$8;&0%5&-,2".&%",@-.?&+-%%"+,$-%/(Qa
'?0":&08/-&/,."%#,2"%"5&,2"&*-/$,$-%&-7&,2"&*."/$5"%+;&4%$80,".088;&:$0&."7"."%546(&'/
h4/?";&"Y*80$%/A&H>;&0**"08$%#&7-.&0%&4*&-.&5-@%&:-,"&-7&,2"&*-*480+"&-%&+-%/,$,4,$-%08
+20%#"/=&'?0":&0:-$5"5&,2"&+-6*.-6$/"/&0%5&+-%+"//$-%/&,20,&*0.8$06"%,&-.&0&+-%/,$,4,$-%08
+-%:"%,$-%&@-485&20:"&"Y0+,"5(KQ_&X2$/&,"+2%$b4"&-7&#-$%#&,-&,2"&*-*480,$-%&7-.&+20%#"&"77"+U
,$:"8;&J;*0//"5&,2"&8"#$/80,4."&0%5&088-@"5&'?0":&,-&+-%/-8$50,"&*-@".&$%&,2"&"Y"+4,$:"&J.0%+2(
I":".,2"8"//=&*."//4."&+-%,$%4"5&,-&#.-@&-%&'?0":&,-&5"8$:".&-%&,2"&60%;&*.-6$/"/&2"
205&605"&$%&,2"&"0.8;&N\\S/=&"/*"+$088;&."#0.5$%#&,2"&"+-%-6;(&h$/&"+-%-6$+&*-8$+$"/&@"."
20:$%#&5":0/,0,$%#&"77"+,/&-%&,2"&/-+$08&/07",;&%",&0%5&@"."&2"85&."/*-%/$J8"&7-.&0&.0*$5&$%+."0/"
$%&*-:".,;(&':".0#"&;$"85/&5.-**"5&RSPeSc&7-.&088&60]-.&+.-*/&L@2"0,=&J0.8";=&+-.%=&*-,0,-"/=
:"#",0J8"/T&J",@""%&N\_\PN\\N&0%5&N\\VPN\\a(Q\&'%5&@$,2&,2"&"Y+"*,$-%&-7&*-,0,-"/=&J."05
*.-54+,/=&0%5&7.4$,/&0%5&J"..$"/=&+-%/46*,$-%&-7&088&-,2".&60]-.&7--5&#.-4*/&5"+."0/"5&J",@""%
OSP_Sc&J",@""%&N\\S&0%5&N\\Q(aS&C2$8"&,2"&+-4%,.;&*488"5&-4,&-7&,2"&/":"."&/2-+?&$,&205
"Y*".$"%+"5&@$,2&,2"&$%,.-54+,$-%&-7&,2"&/-6&$%&N\\O&0%5&@0/&$6*.-:$%#&J;&,2"&6$5UN\\S/=&,2"
,."%5&b4$+?8;&.":"./"5&@$,2&,2"&!4//$0%&7$%0%+$08&+.$/$/&-7&'4#4/,&N\\_(&>;&RSSS=&,2"&/-6&205
7088"%&,-&VS&,-&,2"&5-880.&7.-6&e&,-&,2"&5-880.&$%&N\\O(
M"0%@2$8"=&-**-/$,$-%&7.-6&,2"&0?$6/&@0/&#.-@$%#(&X-&0**"0/"&,2"6=&'?0":&5$/,.$J4,"5
,2"&+-4%,.;[/&."/-4.+"/&06-%#&6"6J"./&-7&,2"&*-8$,$+08&-**-/$,$-%&0%5&6"6J"./&-7&2$/&/-+$08
%",@-.?(&F%&*0.,$+480.=&$%,".%0,$-%08&0$5&@0/&"6J"ZZ8"5&J;&:0.$-4/&/,0,"&0#"%+$"/&0%5&J4."04+.0U
+$"/=&,24/&"6*-@".$%#&$%7-.608&%",@-.?/&$%/,"05&-7&,2"&/,0,"&$%/,$,4,$-%/&,2"&6-%";&@0/&$%,"%5"5
RN
7-.(aN&'/&D.$+&M+B8$%+2";&20/&0.#4"5=&7-."$#%&0$5&088-@"5&'?0":&,-&H."$#%&$%&*-8$,$+08&+-%,"/,0U
,$-%&0%5&i&."J4$85&04,2-.$,0.$0%&.48"(KaR
>;&N\\_=&'?0":&205&J"#4%&,-&4/"&+.$6$%08&*.-+""5$%#/&,-&/$8"%+"&+.$,$+/&-7&,2"&."#$6"(&F%
*".20*/&,2"&6-/,&J80,0%,&*-@".&#.0J=&'?0":&60%$*480,"5&,2"&+-%/,$,4,$-%08&+-4.,&,-&088-@&2$6&,-
/,0%5&7-.&0&,2$.5&,".6(&F%&N\\_=&@$,2&0%-,2".&*."/$5"%,$08&"8"+,$-%&-%&,2"&2-.$Z-%&$%&RSSS=&2"
0,,"6*,"5&,-&/"+4."&0&,2$.5&,".6&$%&-77$+"=&0.#4$%#&,20,&2"&/2-485&J"&088-@"5&,-&."60$%&$%&*-@".
7-.&,@-&."0/-%/A&,2"&7$./,&"8"+,$-%&5$5&%-,&+-4%,&J"+04/"&$,&@0/&2"85&*.$-.&,-&,2"&"/,0J8$/26"%,&-7
,2"&+-%/,$,4,$-%&$%&N\\Og&0%5&2"&@0/&,2"&-%8;&-%"&@2-&+-485&?""*&,2"&+-4%,.;&,-#",2".&0%5
*.":"%,&/-+$08&:$-8"%+"(&X-&0+2$":"&,2$/&#-08=&2"&0**-$%,"5&0&@"88U."/*"+,"5&J4,&8-;08&]45#"&0/
2"05&-7&,2"&+-%/,$,4,$-%08&+-4.,=&@2-&."60$%"5&/$8"%,&@2"%&+20.#"/&0#0$%/,&,2"&"Y"+4,$:"&0.-/"
0%5&.4JJ".U/,06*"5&,2"&8"#08$,;&-7&"Y"+4,$:"&5"+.""/(&)2"&08/-&$#%-."5&,2"&+804/"&-7&,2"&+-%/,$,4U
,$-%&/,0,$%#&,20,&"8"+,$-%/&*.$-.&,-&N\\O&@"."&,-&J"&+-%/$5"."5&:08$5(&X24/=&5"/*$,"&*.-,"/,/&7.-6
,2"&$%,".%0,$-%08&+-664%$,;=&,2"&+-%/,$,4,$-%08&+-4.,&088-@"5&'?0":&,-&/,0%5&7-.&0&,2$.5&,".6(aO
34.$%#&,2"&*."/$5"%,$08&"8"+,$-%/&-7&RSSS=&'?0":&/*-%/-."5&0&%"@&7-.6&-7&+-".+$-%(&X2"
+.$6$%08&*.-/"+4,$-%&0.."/,"5&,2.""&-7&,2"&6-/,&*.-6$%"%,&+0%5$50,"/&7-.&,2"&*."/$5"%+;=&0%5&4/"5
0&80%#40#"&80@&."b4$.$%#&,2"&*."/$5"%,&,-&/*"0?&E;.#;Z&,-&5$/b408$7;&"$#2,&+2088"%#"./(&'?0":
08/-&-77"."5&06J0//05-.$08&0%5&"Y"+4,$:"&*-/,/&,-&*-,"%,$08&-**-%"%,/&0%5&-:".,8;&60%$*480,"5
088&7-.6/&-7&,2"&6"5$0f%"@/*0*"./=&.05$-=&0%5&,"8":$/$-%&J.-05+0/,/(&^%&"8"+,$-%&50;=&:-,$%#
$.."#480.$,$"/=&J088-,&/,477$%#=&J.$J$%#&0%5&$%,$6$50,$-%&@"."&088&+$,"5&J;&-.#0%$Z0,$-%/&/4+2&0/&,2"
I0,$-%08&3"6-+.0,$+&F%/,$,4,$-%&0%5&,2"&^)<D=&J-,2&-7&@2$+2&5""6"5&,2"&"8"+,$-%/&H%-,&70$.=
7.""&0%5&0++-4%,0J8"(Kae
X"%/$-%/&J",@""%&,2"&%-.,2&0%5&,2"&/-4,2=&@2$+2&'?0":&205&"0.8$".&,.$"5&,-&20.5&,-
6$,$#0,"=&J"#0%&,-&780."&4*&0#0$%&0/&0&."/48,&-7&'?0":[/&*-8$+$"/(&'++-.5$%#&,-&<-88$%/=&'?0":[/
$%%".&+$.+8"&7.-6&,2"&%-.,2=&@2$+2&205&2"8*"5&"8"+,&2$6&$%&N\\S&0%5&N\\V=&H205&J"+-6"&2$/&5$."+,
+8$"%,/&07,".&,2"&*0.8$06"%,0.;&"8"+,$-%/=&@-%&-4,&$%&,2"&8"#$/80,4."[/&J0,,8"&7-.&."/-4.+"/(&!0,2".
,20%&"%#0#"&$%&/4J/,0%,$:"&."*."/"%,0,$-%&0%5&8"#$/80,$-%=&5"*4,$"/&7.-6&J-,2&2-4/"/&7-+4/"5
,2"$.&"%".#$"/&-%&4/$%#&,2"&m*0.8$06"%,n&,-&J.$%#&"+-%-6$+&@"08,2&,-&,2"6/"8:"/&0%5&,2"$.&%",U
RR
@-.?&-7&/4**-.,"./=&0/&@"88&0/&,-&,2"$.&J.-05".&+80%&0%5&."#$-%08&J0/"(K&aV&'?0":&/,0.,"5&0**-$%,U
$%#&%-.,2".%"./&,-&/-4,2".%&#-:".%-.&*-/$,$-%/&0/&2"&7"8,&2$/&+-%,.-8&-:".&8-+08&."/-4.+"/&/8$*(
F%:"/,6"%,&+-%,$%4"5&,-&70:-.&2"0:$8;&,2"&%-.,2".%&."#$-%/=&":"%&,2-4#2&6-."&,20%&VSc&-7&,2"
*-*480,$-%&8$:"5&$%&,2"&/-4,2&0%5&0#.$+48,4.08&0%5&$%54/,.$08&-**-.,4%$,$"/&@"."&+-%+"%,.0,"5&$%
,2"&W".#20%0&j088";(&'?0":[/&*-8$+$"/&0++-.5$%#8;&"%#"%5"."5&/".$-4/&7.$+,$-%&06-%#&,2"&/-4,2U
".%&*-*480,$-%(
!"#$-%08&#.-4*/&0%5&,2"$.&+-%,.-8&-7&,2"&+-4%,.;[/&"+-%-6$+&."/-4.+"/&20:"&+-%/,.0$%"5
'?0":[/&0J$8$,;&,-&0+,&$%5"*"%5"%,8;&$%&*4./4$%#&"+-%-6$+&0%5&*-8$,$+08&."7-.6(&C2$8"&2"&/-4#2,
,-&J4$85&4*&."80,$-%/&@$,2&."#$-%08&8"05"./&0%5&J4/$%"//6"%&,-&$6*8"6"%,&."7-.6=&2"&+-485&5-
8$,,8"&,-&/,-*&,2"6&7.-6&#.""5$8;&060//$%#&"+-%-6$+&0%5&*-8$,$+08&*-@".(&h"&,2"%&/2$7,"5&,-&,2"
.-8"&-7&H60%0#".K&-7&,2"/"&%",@-.?/&,-&"%/4."&,20,&%-&-%"&J"+06"&,--&*-@".748(&aQ&X-&,2$/&50;=
,2"&*-8$,$+08&0%5&"+-%-6$+&/$,40,$-%&."60$%/&7.0#$8"(&X2"&+-4%,.;&."8$"/&-%&0&/$%#8"&04,2-.$,;f
'?0":f,-&60$%,0$%&/,0J$8$,;&0%5&J080%+"&$%,"."/,/(&X2"&+;+8"&-7&0**"0/$%#&0%5&."/24778$%#
6"6J"./&-7&2$/&*-8$,$+08&0%5&*"./-%08&%",@-.?&+-%,$%4"/&,-&$%:$,"&."/-.,&,-&+-".+$:"&6",2-5/=
@2$+2&$%&,4.%&$%+."0/"/&$%/,0J$8$,;&0%5&@"0?"%/&/,0,"&+0*0+$,;&,-&"77"+,&+20%#"(
'/&'?0":&+-%+"%,.0,"5&*-@".&@$,2$%&,2"&"Y"+4,$:"&J.0%+2&$%&,2"&6$5U80,"&N\\S/=&2"&08/-
J"#0%&,-&70+"&/$#%$7$+0%,&"Y,".%08&/"+4.$,;&+2088"%#"/(&X2"."&@"."&$%&,2"&7$./,&*80+"&0&%46J".&-7
*".+"$:"5&,2."0,/&"60%0,$%#&7.-6&,2"&/-4,2f$%&*0.,$+480.=&,2"&$%/,0J$8$,;&$%&'7#20%$/,0%&0%5&,2"
+$:$8&@0.&$%&X0]$?$/,0%(&^:".&,2"&+-4./"&-7&N\\QPN\\a=&'?0":&+088"5&7-.&0&5$08-#4"&-%&*-//$J8"
@0;/&,-&/",,8"&,2"&4%."/,&$%&'7#20%$/,0%(&h$/&*0.,$+480.&+-%+".%/&@"."&,@-7-85A&2"&/0@&,2"&*-//$U
J$8$,;&-7&,2"&+-%78$+,&5.0@$%#&%"$#2J-.$%#&+-4%,.$"/&$%,-&$,/&-.J$,=&0%5&2"&7-."/0@&0&/$#%$7$+0%,
*4J8$+&2"08,2&.$/?&0%5&J80+?&60.?",&0.$/$%#&7.-6&,2"&*-**;&*.-54+,$-%&0%5&-*$46&,.0%/*-.,&7.-6
'7#20%$/,0%&%-.,2&,2.-4#2&E;.#;Z/,0%(&h"&J"8$":"5&,20,&5.4#&,.077$+?$%#&0%5&5.4#U."80,"5&+.$6"/
@"."&H0&+0%+".-4/&,46-.&-%&,2"&J-5;&-7&,2"&."*4J8$+&iKaa&'?0":[/&"6*20/$/&-%&,2"&$%/,0J$8$,;
"60%0,$%#&7.-6&,2"&/-4,2&*.-:"5&*."/+$"%,f-%8;&0&7"@&;"0./&80,".&@-.85&0,,"%,$-%&@-485&/2$7,&,-
,2"&."#$-%(
RO
1".20*/&,2"&6-/,&/$#%$7$+0%,&5$."+,&/"+4.$,;&+2088"%#"&0.-/"&$%&N\\\&@2"%&6$8$,0%,/
077$8$0,"5&@$,2&,2"&F/806$+&M-:"6"%,&-7&9ZJ"?$/,0%&LFM9T&"%,"."5&E;.#;Z&,"..$,-.;(&)""?$%#&,-
-:".,2.-@&."#$-%08&#-:".%6"%,/&0%5&"/,0J8$/2&0%&F/806$+&+08$*20,"&$%&<"%,.08&'/$0=&,2"&FM9
,@$+"&/4++""5"5&$%&$%7$8,.0,$%#&E;.#;Z&,"..$,-.;&0%5&+04/$%#&$%/,0J$8$,;&J;&,0?$%#&2-/,0#"/&0%5
$%:05$%#&:$880#"/(&X2"/"&":"%,/&2$#28$#2,"5&,2"&5$/608&/,0,"&-7&,2"&E;.#;Z&/"+4.$,;&7-.+"/&0%5
+04/"5&2"0,"5&5$*8-60,$+&,"%/$-%/&J",@""%&E;.#;Z/,0%&0%5&9ZJ"?$/,0%(&9ZJ"?$/,0%&20/&/$%+"
0++4/"5&E;.#;Z/,0%&0%5&X0]$?$/,0%&-7&20.J-.$%#&,"..-.$/,/=&0%5&$%&.",08$0,$-%&X0/??"%,&20/&6$%"5
$,/&J-."./&@$,2&E;.#;Z/,0%(&X2$/&20/&5$/.4*,"5&,.05"&*0,,".%/&0%5&,4.%"5&-77&"%".#;&/4**8$"/&,-&,2"
+-4%,.;&0/&0%&055$,$-%08&6"0%/&-7&8":".0#"(&9ZJ"?$/,0%&20/&08/-&+.$,$+$Z"5&'?0":[/&8$J".08&*-8$U
+$"/=&0++4/$%#&E;.#;Z/,0%&-7&088-@$%#&F/806$+&.05$+08/&,-&78-4.$/2&$%&,2"&/-4,2=&,2"."J;&,2."0,"%U
$%#&,2"&."#$6"&$%&9ZJ"?$/,0%(
W4.,2".&+-6*8$+0,$%#&,2"&/$,40,$-%&@0/&,2"&"/,0J8$/26"%,&-7&9()(&0%5&$%,".%0,$-%08&7-.+"/
0,&0&J0/"&0,&M0%0/&0$.*-.,&-4,/$5"&>$/2?"?&0/&0&."/48,&-7&,2"&6$8$,0.;&+06*0$#%&0#0$%/,&'7#20%$U
/,0%(&C2$8"&5.0@$%#&+.$,$+$/6&7.-6&!4//$0&0%5&<2$%0=&%"$,2".&+-4%,.;&-4,.$#2,&H:",-"5K&,2"
5":"8-*6"%,(&h-@":".=&$%&3"+"6J".&RSSR&!4//$0&/$#%"5&0%&0#.""6"%,&@$,2&E;.#;Z/,0%&,-&-*"%
$,/&-@%&6$8$,0.;&J0/"&0,&E0%,=&08/-&-4,/$5"&>$/2?"?(a_&F%&055$,$-%=&E;.#;Z/,0%=&08-%#&@$,2&-,2".
<"%,.08&'/$0%&+-4%,.$"/=&!4//$0=&0%5&<2$%0=&$/&0&6"6J".&-7&,2"&)20%#20$&<--*".0,$-%&^.#0%$Z0U
,$-%=&7-4%5"5&$%&o4%"&RSSN(a\&X2$/&-.#0%$Z0,$-%=&@2$8"&/,$88&$%&$,/&$%70%+;&$%&,".6/&-7&+-%+.","
*-8$+;&0%5&0+,$-%=&205&7-+4/"5&-%&/"+4.$,;&0%5&+-4%,".U,"..-.$/6&$%$,$0,$:"(
9%,$8&."+"%,8;=&E;#;Z/,0%=&4%8$?"&60%;&-7&,2"&-,2".&)-:$",&/4++"//-.&/,0,"/=&20/&J""%&0J8"
,-&0:-$5&60//&*.-,"/,&0%5&:$-8"%+"(&h-@":".=&$,&@0/&+8"0.&J;&RSSS&,20,&"+-%-6$+088;&:48%".0J8"
#.-4*/=&/4+2&0/&,"0+2"./&0%5&*"%/$-%"./&$%&,2"&/-4,2&-7&,2"&+-4%,.;=&@2"."&/-6"&VSc&-7&,2"
*-*480,$-%&8$:"/&4%5".&,2"&*-:".,;&8":"8=&@"."&#.-@$%#&$%+."0/$%#8;&2-/,$8"&,-&,2"&."#$6"(&F%
RSSR=&*80%/&J;&'?0":&,-&/$#%&J-.5".&0#.""6"%,/&@$,2&%"$#2J-.$%#&9ZJ"?$/,0%&0%5&<2$%0&,20,
@-485&+"5"&E;.#;Z&,"..$,-.;&,-&,2-/"&,@-&+-4%,.$"/&/*0.?"5&2"0,"5&*0.8$06"%,0.;&0%5&*4J8$+
-4,.0#"(&'7,".&,2"&0.."/,&-7&'Z$6J"?&>"?%0Z0.-:=&0&*-*480.&5"*4,;&7.-6&,2"&/-4,2".%&."#$-%&-7
o08080J05&@2-&205&:-+088;&."*45$0,"5&,2"&J-.5".&0#.""6"%,/&0%5&,2"&+8-/4."&-7&."#$-%08&-**-/$U
Re
,$-%&%"@/*0*"./&$%&o0%40.;&RSSR=&*.-,"/,/&".4*,"5&$%&,2"&."#$-%(&X2"&*.-,"/,"./&+088"5&7-.
>"?%0Z0.-:[/&."8"0/"=&J4,&,2";&08/-&4/"5&,2"&-**-.,4%$,;&,-&+.$,$+$Z"&'?0":[/&*-8$+$"/&,[email protected]&,2"
/-4,2".%&."#$-%/=&+$,$%#&+-..4*,$-%&0%5&5$/"%7.0%+2$/"6"%,&0/&,2"$.&60$%&+-%+".%/(
X2"&$%+$5"%,&7$%088;&"Y*8-5"5&$%,-&:$-8"%+"&$%&M0.+2&@2"%&7$:"&5"6-%/,.0,-./&@"."
?$88"5&J;&,2"&8-+08&*-8$+"&$%&,2"&/-4,2".%&,-@%&-7&'/?;(&W-.&,2"&7$./,&,$6"&/$%+"&$%5"*"%5"%+"=
'?0":&+-%7.-%,"5&,2"&b4"/,$-%&-7&4/$%#&/,0,"&/"+4.$,;&-.#0%/&0#0$%/,&,2"&*-*480,$-%(&h"&7$."5&?";
6$%$/,"./&088"#"58;&$%:-8:"5&$%&60?$%#&,2"&5"+$/$-%&,-&7$."&0#0$%/,&,2"&*-*480,$-%=&@2$+2&."/48,"5
$%&,2"&."/$#%0,$-%&-7&,2"&"%,$."&#-:".%6"%,(&M0//&*.-,"/,/&$%&,2"&/-4,2&-%8;&/4J/$5"5&07,".&0%
0**"08/&+-4.,&8$7,"5&,2"&+20.#"/&0#0$%/,&>"?%0Z0.-:(&_S
F%&W"J.40.;&RSSO=&'?0":&*."//"5&02"05&@$,2&0&+-%/,$,4,$-%08&."7"."%546&,20,&2"&0.#4"5
@-485&"%20%+"&,2"&/;/,"6&-7&+2"+?/&0%5&J080%+"/&$%&,2"&*-8$,$+08&/;/,"6&0%5&*.-6-,"&."+-%+$8$0U
,$-%&07,".&,2"&.$-,/&0%5&/2--,$%#/&$%&'/?;&,2"&;"0.&J"7-."(_N&'7,".&8"//&,20%&-%"&6-%,2&-7&*4J8$+
5"J0,"=&,2"&."7"."%546&@0/&*0//"5&4%5".&088"#0,$-%/&-7&60//$:"&7.045(&X2"&."7"."%546&*.-:$5"5
7-.&,2"&."*80+"6"%,&-7&,2"&"Y$/,$%#&J$+06".08&*0.8$06"%,&@$,2&0&4%$+06".08&-%"=&0%5&$,&+-%7$.6"5
,20,&'?0":&205&"%-4#2&*-*480.&/4**-.,&,-&/".:"&-4,&2$/&,".6&4%,$8&RSSV(_R&k",&5$/+-%,"%,&/$66"./
4%5".%"0,2&,2"&/4.70+"&0/&-**-/$,$-%&8"05"./&+-%,$%4"&,-&+088&7-.&'?0":[/&."/$#%0,$-%&0%5&$%U
+."0/"5&04,-%-6;&7-.&,2"&/-4,2".%&."#$-%/(&_O
!!!!!!
'86-/,&NV&;"0./&/$%+"&,2"&+-880*/"&-7&,2"&)-:$",&9%$-%=&%46".-4/&/,45$"/&20:"&/",&-4,&,-&"Y*80$%
@2;&,2"&%"@8;&$%5"*"%5"%,&/,0,"/&-7&<"%,.08&'/$0=&@2$+2&/""6$%#8;&/20."5&+-66-%&2$/,-.$+08
8"#0+$"/&0%5&$%/,$,4,$-%/=&20:"&*4./4"5&5$:".#$%#&*-8$,$+08&0%5&"+-%-6$+&."7-.6&/,.0,"#$"/&4*-%
$%5"*"%5"%+"(&X2";&20:"&08/-&,.$"5&,-&"Y*80$%&@2;&-%"&+-4%,.;&$%&*0.,$+480.=&,2"&E;.#;Z&!"*4JU
8$+=&.":"./"5&$,/&8$J".08&,.0]"+,-.;&$%&,2"&6$5UN\\S/&0%5&,-50;&."/"6J8"/&$,/&6-."&04,2-.$,0.$0%
%"$#2J-./(&h"."&F&.":$"@&"Y$/,$%#&"Y*80%0,$-%/&,-&,2"/"&,@-&b4"/,$-%/f@2;&,2"&E;.#;Z&!"*4JU
8$+&8$J".08$Z"5&4*-%&$%5"*"%5"%+"=&0%5&@2;&$,&20/&/$%+"&.":"./"5&$,/&,.0]"+,-.;(&'7,".&/4660.$ZU
RV
$%#&,2"/"&"Y*80%0,$-%/=&F&5$/+4//&2-@&0&7-+4/&-%&,2"&.-8"&-7&8"05"./2$*&+-%,.$J4,"/&,-&-4.&4%5".U
/,0%5$%#&-7&,2"&$%$,$08&8$J".08&,.0]"+,-.;(
W$:"&60$%&"Y*80%0,$-%/&"Y$/,&7-.&4%5"./,0%5$%#&E;.#;Z/,0%[/&*-/,U$%5"*"%5"%+"&,.0]"+U
,-.;=&,@-&80.#"UI&+-6*0.0,$:"&/,45$"/&0%5&,2.""&/6088".UI&+0/"&/,45$"/(_e&F%&2$/&+-6*0.0,$:"
/,45;&-7&*-/,U<-664%$/,&+-4%,.$"/=&M(&),":"%&W$/2&7-+4/"/&-%&0&/4J/",&-7&,2-/"&+-4%,.$"/&,20,
20:"&.":"./"5&,2"$.&$%$,$088;&5"6-+.0,$+&,.0]"+,-.$"/=&$%+845$%#&E;.#;Z/,0%(_V&'7,".&/4660.$Z$%#
0%5&":0840,$%#&"Y$/,$%#&0.#46"%,/&7-.&,2$/&*2"%-6"%-%=&2"&-77"./&2$/&-@%&,.$*0.,$,"&"Y*80%0,$-%
7-.&5"6-+.0,$+&.":"./$-%A&+-%+"%,.0,$-%&-7&*-@".&$%&,2"&*."/$5"%+;&L/4*".U*."/$5"%,$08$/6Tg
-**-/$,$-%08&@"0?%"//&0/&5"7$%"5&J;&0%&$%0J$8$,;&,-&+-664%$+0,"&@$,2&+$,$Z"%/&0%5&6-J$8$Z"
."/-4.+"/&0%5&*"-*8"g&0%5&*-@".748&"Y,".%08&*0,.-%0#"=&4/4088;&7.-6&!4//$0&0%5&C"/,".%&+-4%U
,.$"/(_Q&k",&W$/2[/&0%08;/$/=&@2$+2&7-+4/"/&-%&@2;&,2"/"&+-4%,.$"/&.":"./"5&,2"$.&$%$,$08&,.0]"+,-.;
0%5&-%&,2"&$%$,$08&+-66$,6"%,&,-&8$J".08&."7-.6=&5-"/&%-,&"Y*80$%&,2"&6"+20%$/6&0%5&,$6$%#&-7
,2"&$%+."0/"&$%&04,2-.$,0.$0%&6"0/4."/(&W-.&"Y06*8"=&@2;&5$5&,2"&$%/,$,4,$-%08&+-%+"%,.0,$-%&-7
*-@".&$%&,2"&*."/$5"%,&-++4.&$%&E;.#;Z/,0%&J"#$%%$%#&$%&N\\e&0%5&%-,&J"7-."d
'&/"+-%5&/,45;&-7&088&*-/,U<-664%$/,&+-4%,.$"/&0.#4"/&,20,&."7-.6&0,,"6*,/&J;&+-4%,.$"/
/4+2&0/&E;.#;Z/,0%&20:"&7-4%5"."5&J"+04/"&-7&,2"$.&#"-#.0*2$+&5$/,0%+"&7.-6&5"6-+.0,$+&+-4%U
,.$"/&,20,&+-485&7$%0%+$088;&/4**-.,&,2"$.&,.0%/$,$-%/A&Hi&8-+0,$-%&60,,"./&6-."&,20%&5-6"/,$+
*-8$+;&$,/"87&$%&5",".6$%$%#&-4,+-6"/&iK_a&X2"&04,2-./&4/"&E;.#;Z/,0%&0/&0%&"Y06*8"&-7&0
+-4%,.;&,20,&"6J0.?"5&-%&0&8$J".08&."7-.6&*.-#.06&J4,&70$8"5&54"&,-&$,/&#"-#.0*2;&0%5&,2"&80+?&-7
H+0*0+$,;&,-&0,,.0+,&/477$+$"%,&C"/,".%&0,,"%,$-%&,-&2"8*&$,&-:".+-6"&,2"&*."//4."&-7&$,/&$66"5$0,"
$%,".%0,$-%08&"%:$.-%6"%,(K__&'/&@$,2&W$/2[/&0%08;/$/=&,2$/&/,45;&5-"/&%-,&"Y*80$%&,2"&$%$,$08
8$J".08&."7-.6(&M-."-:".=&$%&,2"$.&"Y*80%0,$-%&7-.&E;.#;Z/,0%[/&.":"./08=&,2"&04,2-./&5-&%-,
5"7$%"&@20,&H/477$+$"%,K&C"/,".%&0,,"%,$-%&@-485&J"(&F%&70+,=&E;.#;Z/,0%&."+"$:"5&/$#%$7$+0%,
0,,"%,$-%&0%5&0&#."0,&5"08&-7&0$5&7.-6&,2"&9%$,"5&),0,"/&0%5&-,2".&$%,".%0,$-%08&7$%0%+$08&$%/,$,4U
,$-%/(_\
C2"."0/&,2"/"&,@-&0.#46"%,/&#"%".08$Z"&0+.-//&088&*-/,U<-664%$/,&+-4%,.$"/=&1048$%"
o-%"/&`4-%#=&E0,28""%&<-88$%/=&0%5&D.$+&M+B8$%+2";&05-*,&0&/6088UI&+0/"&/,45;&0**.-0+2&,-
RQ
"Y*80$%&,2"&5"6-+.0,$+&.":"./08&$%&<"%,.08&'/$0(&o-%"/&`4-%#&0%08;Z"/&,2"&:0.$0,$-%&$%&,2"&"/,0JU
8$/26"%,&-7&-%"&$%/,$,4,$-%=&,2"&"8"+,-.08&/;/,"6=&$%&,2"&"0.8;&N\\S/&$%&E0Z0?2/,0%=&E;.#;Z/,0%=
0%5&9ZJ"?$/,0%(\S&)2"&0.#4"/&,20,&0&,.0%/$,$-%08&J0.#0$%$%#"&J",@""%&+"%,.08&0%5&."#$-%08
8"05"./=&/20*"5&J;&$%/,$,4,$-%08&8"#0+$"/&-7&,2"&)-:$",&*".$-5&0%5&,2"&$66"5$0,"&/,.0,"#$+&"%:$.-%U
6"%,=&5",".6$%"5&,2"&"8"+,-.08&/;/,"6(&F%&2".&0%08;/$/=&J0.#0$%$%#&/,.0,"#$"/&@"."&0&74%+,$-%&-7
0+,-./[&*".+"*,$-%/&$%&/2$7,/&-7&."80,$:"&*-@".&,2.-4#2-4,&,2"&%"#-,$0,$-%&*.-+"//(&X2"&,2"-.;
*."5$+,/&0%&$%:"./"&."80,$-%/2$*&J",@""%&,2"&*."/$5"%,[/&*".+"*,$-%&-7&2$/&*-@".&0%5&,2"&8":"8&-7
*-8$,$+08&-*"%%"//f,2"&#."0,".&,2"&*".+"*,$-%&-7&*-@".=&,2"&8"//&,2"&5"/$."&7-.&*-8$,$+08&-*"%%"//(
9/$%#&,2$/&0%08;/$/=&/2"&0.#4"/&,20,&'?0":&8$J".08$Z"5&,-&$%+845"&-,2".&/6088&*0.,$"/&$%&,2"&*-8$,$U
+08&*.-+"//&J"+04/"&2"&@0/&Hi&J0.#0$%$%#&7.-6&0&*-/$,$-%&-7&@"0?%"//&."80,$:"&,-&-,2".&"/,0JU
8$/2"5&"8$,"/(&X2$/&$6*8$"/&,20,&2"&,2"%&@$,25."@&2$/&/4**-.,&7-.&5"6-+.0+;&80,".&$%&,2"&,.0%/$,$-%
J"+04/"&2"&*".+"$:"5&,20,&,2"&J080%+"&-7&*-@".&205&/2$7,"5&$%&2$/&70:-.(K\N
<-88$%/&08/-&05-*,/&0&,2.""U+-4%,.;&+0/"&/,45;&0**.-0+2&L4/$%#&X0]$?$/,0%&$%/,"05&-7
E0Z0?2/,0%T&J4,&*.-J"/&:".;&5$77"."%,&b4"/,$-%/&0%5&0..$:"/&0,&5$77"."%,&+-%+84/$-%/(\R&)2"&0/?/
@2;&,2"&,2.""&+-4%,.$"/&205&/4+2&5$77"."%,&-4,+-6"/&4*-%&$%5"*"%5"%+"&L5"6-+.0+;&$%
E;#;Z/,0%=&04,2-.$,0.$0%$/6&$%&9ZJ"?$/,0%=&0%5&+$:$8&@0.&$%&X0]$?$/,0%T=&0%5&/2"&08/-&"Y*80$%/
@2;&E;.#;Z/,0%&5$:".#"5&7.-6&$,/&8$J".08&*0,2&$%&,2"&6$5UN\\S/(&h".&60$%&$%5"*"%5"%,&:0.$0J8"
$/&,2"&.-8"&-7&+80%/&0%5&+80%&*-8$,$+/(&F%&,2"&+0/"&-7&E;.#;Z/,0%=&/2"&0.#4"/&,20,&+80%&*0+,/&+-%U
+845"5&*.$-.&,-&,2"&,.0%/$,$-%&088-@"5&'?0":&,-&+-6"&,-&*-@".&0%5&08/-&088-@"5&2$6&,-&$6*8"U
6"%,&0&5"6-+.0,$+U-.$"%,"5&*.-#.06&54"&,-&2$#2&8":"8/&-7&,.4/,&@$,2$%&,2"&+80%(&k",&*."+$/"8;
,2"/"&+80%&8-;08,$"/&20:"&."b4$."5&'?0":&L0%5&-,2".&<"%,.08&'/$0%&8"05"./T&,-&5$/,.$J4,"&*-8$,$+08
*-@".&0%5&"+-%-6$+&."/-4.+"/&06-%#&,2"$.&+80%&6"6J"./=&8"05$%#&,-&0%&-:".U."8$0%+"&-%&2$/
#.-4*&,-&,2"&"Y+84/$-%&-7&-,2"./(&X2$/&20/&."/48,"5&$%&,2"&6-."&04,2-.$,0.$0%&*-8$+$"/&,20,&20:"
J""%&-J/".:"5&-:".&,2"&+-4./"&-7&,2"&N\\S/(
D.$+&M+B8$%+2";&0.#4"/&,20,&%"$,2".&+80%&%-.&."#$-%08&$5"%,$,$"/&0."&,2"&*.$60.;&5",".6$U
%0%,/&-7&."#$6"&-4,+-6"/(&\O&F%/,"05=&2"&7$%5/&,2"&8"05"./[&H0++"//&,-&"+-%-6$+&/-4.+"/&-7&.48"K
,-&J"&,2"&6-/,&$6*-.,0%,&5",".6$%0%,&-7&*-8$,$+08&."7-.6&L$%&E;.#;Z/,0%T&0%5&04,2-.$,0.$0%
Ra
,"%5"%+$"/&L$%&E0Z0?2/,0%&0%5&80,".&E;.#;Z/,0%T(\e&F%&E;.#;Z/,0%=&"+-%-6$+&."/-4.+"/&,--?&,2"
7-.6&-7&$%,".%0,$-%08&0$5=&@2$8"&$%&E0Z0?2/,0%&,2"."&@0/&+-%/$5".0J8"&7-."$#%&5$."+,&$%:"/,6"%,
$%&,2"&"%".#;&/"+,-.(&h$/&60$%&0.#46"%,&$/&,20,&H-%8;&$7&+"%,.08&#-:".%6"%,/&0."&+-%/$/,"%,8;
/,0.:"5&-7&,2"&"+-%-6$+&."/-4.+"/&-7&.48"=&5-&-**-.,4%$,$"/&7-.&8$J".08&+20%#"&0.$/"(K\V&F%&,2"&+0/"
-7&E;.#;Z/,0%=&$%&*0.,$+480.=&2"&0.#4"/&,20,&,2"&$%$,$08&*".$-5&-7&$%5"*"%5"%+"&J",@""%&N\\NP
N\\e&@0/&+20.0+,".$Z"5&J;&*-8$,$+08&+-%,"/,0,$-%&0%5&0&80+?&-7&"+-%-6$+&."/-4.+"/&8"05$%#&,-
8$J".08&+20%#"=&@2$8"&$%&N\\ePN\\V=&4*-%&,2"&."+"$*,&-7&$%,".%0,$-%08&0$5=&,2"&8"05"./2$*&@0/&0J8"
,-&4/"&)-:$",U".0&$%/,$,4,$-%/&L2$".0.+2$+08&*0,.-%0#"&%",@-.?/&0%5&0&*."50,-.;&]45$+$08&/;/,"6T
,-&"Y".,&+-%,.-8&-:".&*-8$,$+08&-**-%"%,/(&F%&"77"+,=&7-."$#%&0$5&@0/&4/"5&,-&@"0?"%&,2"&*0.8$0U
6"%,(
X2"/"&,2.""&/6088UI&/,45$"/&"$,2".&60?"&0//46*,$-%/&0J-4,&,2"&.-8"&-7&8"05"./2$*&$%&,2"$.
+0/"/&-.&5-@%*80;&,2"&.-8"&-7&$%5$:$5408&0#"%+;&$%&,2"$.&"Y*80%0,$-%/(&F%&*0.,$+480.=&J-,2&o-%"/
`4-%#&0%5&<-88$%/=&@2$8"&$5"%,$7;$%#&,2"&.-8"&-7&,2"&*."/$5"%,&0%5&+".,0$%&-,2".&"8$,"/&0/&$6*-.U
,0%,&0+,-./=&5-@%*80;&,2"&$6*-.,0%+"&-7&'?0":[/&8"05"./2$*&0%5&$5"0/=&7-+4/$%#&$%/,"05&-%
*".+"*,$-%/&-7&*-@".&J",@""%&+"%,".&0%5&."#$-%08&8"05"./&$%&,2"&+0/"&-7&o-%"/&`4-%#=&0%5&-%&,2"
.-8"&-7&+80%&*-8$,$+/&7-.&<-88$%/(&o-%"/&`4-%#&$%&70+,&0.#4"/&,20,&8"05"./2$*&0%5&+-66$,6"%,&,-
*-8$,$+08&-.&"+-%-6$+&8$J".08$Z0,$-%&*80;&%-&"Y*80%0,-.;&.-8"A&H'?0":&5$5&%-,&8$J".08$Z"&2$/
."#$6"&"$,2".&J"+04/"&E;.#;Z/,0%&70+"5&0&#."0,".&"+-%-6$+&+.$/$/&,20%&$,/&<"%,.08&'/$0%&%"$#2U
J-./&-.&J"+04/"&2"&@0/&6-."&+-66$,,"5&,-&5"6-+.0,$+&."7-.6&,20%&2$/&+-4%,".*0.,/&$%
E0Z0?2/,0%&0%5&9ZJ"?$/,0%=&J4,&J"+04/"&2"&@0/&J0.#0$%$%#&7.-6&0&*-/$,$-%&-7&@"0?%"//&."80,$:"
,-&-,2".&"/,0J8$/2"5&"8$,"/(K\Q&`$?"@$/"&M+B8$%+2";&0.#4"/&0#0$%/,&0#"%+;UJ0/"5&0.#46"%,/A
HX2-4#2&60%;&$%&,2"&C"/,&$%,".*.","5&E;.#;Z/,0%[/&"0.8;&*-8$,$+08&+-%,"/,0,$-%&0/&0&."/48,&-7
*4.*-/$:"=&'?0":U$%$,$0,"5&8$J".08&."7-.6=&6;&."/"0.+2&7$%5/&,20,&$,&@0/&'?0":[/&$%+0*0+$,;=&2$/
$%0J$8$,;&,-&+-%,.-8&,2"&*-8$,$+08&-**-/$,$-%=&,20,&"%0J8"5&E;.#;Z/,0%[/&$%$,$08&5"6-+.0,$+&-*"%U
$%#(K\a
&M;&0%08;/$/&/4##"/,/&-%&,2"&+-%,.0.;&,20,&'?0":[/&8"05"./2$*&*80;"5&0%&$6*-.,0%,&.-8"&$%
5",".6$%$%#&E;.#;Z/,0%[/&$%$,$08&8$J".08&*-8$,$+08&0%5&"+-%-6$+&."7-.6&*0,2(&C2$8"&$,&$/&J";-%5
R_
,2"&/+-*"&-7&,2$/&*0*".&,-&5"7"%5&,2$/&+80$6&$%&#"%".08=&F&J"8$":"&,20,&8"05"./2$*&/2-485&J"
lJ.-4#2,&J0+?&$%[&,-&+-6*0.0,$:"&0%08;/$/=&"/*"+$088;&$%&<"%,.08&'/$0&@2"."&"Y"+4,$:"&*-@".&0%5
*"./-%08&*-8$,$+/&20:"&0&5$/*.-*-.,$-%0,"8;&80.#"&$%784"%+"(&F%&*0.,$+480.=&,2"&b4"/,$-%&F&20:"&,.$"5
,-&/2"5&8$#2,&-%&$/&%-,&-%8;&@2",2".&8"05"./2$*&60,,"."5=&J4,&08/-&,-&A74,&"J,"%,&$,&60,,"."5&0%5
7-A&'?0":[/&8"05"./2$*&/,.0,"#$"/&+20%#"5&-:".&,$6"(
X2"&":$5"%+"&.":$"@"5&$%&,2$/&%0..0,$:"&/4##"/,/&,20,&'?0":&+06"&,-&*-@".&0,&0&H+.$,$+08
]4%+,4."K&$%&,2"&+-4%,.;[/&,.0%/$,$-%(\_&'/&-%"&/+2-80.&20/&@.$,,"%&$%&."#0.5&,-&H+.$,$+08&]4%+,4."/KA
H',&,2"&+-."&m-7&,2"&%-,$-%n&$/&,2"&:".;&/$6*8"&$5"0&,20,&,2"&5"+$/$-%/&-7&*-8$,$+08&0+,-./&0."
"77$+0+$-4/=&-.&04,-%-6-4/&-7&0&/-+$-"+-%-6$+&."086&@2$+2&#"%".088;&+20%#"/&$%&0%&$%+."6"%,08
60%%".=&0%5&$%,.-54+"&0&J."0?&-.&5$/+-%,$%4$,;&$%&*-8$,$+08&*0,,".%/(&1-8$,$+08&+2-$+"/=&$%&/2-.,=
/,0%5&J"2$%5&0%5&"Y*80$%&+.$,$+08&]4%+,4."/(K\\&F%&,2"&+0/"&-7&E;.#;Z/,0%=&,2"&+.$,$+08&]4%+,4."
-++4.."5&%-,&@$,2&,2"&+."0,$-%&-7&,2"&."*4J8$+0%&*-/,&-7&*."/$5"%,f088&-,2".&<"%,.08&'/$0%
."*4J8$+/&+."0,"5&/4+2&0&*-/,&0/&*0.,&-7&,2"&$%+."6"%,08&."7-.6&-7&)-:$",&$%/,$,4,$-%08&/,.4+,4."/(
!0,2".=&$,&+06"&-%&,2"&":"&-7&"8"+,$-%/&@2"%&0%&$%/,$,4,$-%08&+.$/$/&"6".#"5(&C2"."0/&$%&,2"&-,2".
<"%,.08&'/$0%&."*4J8$+/&,2"&."$#%$%#&8"05".&-7&,2"&<-664%$/,&10.,;&J"+06"&*."/$5"%,=&$%
E;.#;Z/,0%&,2"&/$,40,$-%&5$77"."5(&M0/08$":=&,2"&10.,;&7$./,&/"+.",0.;=&,@$+"&7"88&/2-.,&-7&,2"&:-,"/
2"&%""5"5&,-&J"+-6"&,2"&7$./,&*."/$5"%,=&0%5&0/&0&."/48,&,2"."&@0/&0%&4%"Y*"+,"5&*-8$,$+08&-*"%$%#
7-.&-,2".&+0%5$50,"/(&X2$/&-*"%$%#=&+-6J$%"5&@$,2&,2"&,$6$%#&-7&'?0":[/&"%,.;&$%,-&,2"&*-8$,$+08
0."0&$%&N\_\&0%5&2$/&"8"+,$-%&$%,-&,2"&E;.#;Z&)4*."6"&)-:$",&$%&'4#4/,&N\\S=&@0/&"//"%,$08&,-
2$/&+-6$%#&,-&*-@".(&X24/&$%&,2"&J.-05".&+-%,"Y,&-7&,2"&,.0%/$,$-%=&-%"U,$6"&*-8$,$+08&+2-$+"/
605"&J;&2$#2U.0%?$%#&)-:$",&8"05"./&."#0.5$%#&,2"&"8"+,-.08&+.$/$/&8"5&,-&0&+.$,$+08&+20%#"&$%
8"05"./2$*(
&^%+"&$%&*-@".=&'?0":[/&$5"0/&0%5&J"8$"7/f"Y*."//"5&="2-."&2"&J"+06"&*."/$5"%,&-7&,2"
."*4J8$+&0%5&,2"%&-7&,2"&+-4%,.;f$6*0+,"5&2$/&."7-.6&+2-$+"/(&'&8"05".&@$,2&5$77"."%,&$5"0/
0J-4,&"+-%-6$+&."7-.6&-.&*-8$,$+08&+-%,"/,0,$-%&6$#2,&%-,&20:"&/4++""5"5&$%&"0/$%#&,2"&",2%$+
0%5&/-+$08&,"%/$-%/&,20,&780."5&$%&N\\S=&-.&2"&6$#2,&20:"&*4./4"5&5$77"."%,&/,.0,"#$"/&0%5&8":"8/&-7
."7-.6&-%+"&$%&-77$+"(&C2",2".&-.&%-,&'?0":&@0/&@"0?&*-8$,$+088;=&80+?"5&"+-%-6$+&."/-4.+"/=&-.
R\
@0/&*0.,&-7&*0.,$+480.&+80%&/,.4+,4."/=&5$5&%-,&08-%"&5",".6$%"&*0.,$+480.&-4,+-6"/(&C2$8"&/4+2
70+,-./&0/&*-8$,$+08&@"0?%"//=&"+-%-6$+&6080$/"=&0%5&*-8$,$+08&7.0#6"%,0,$-%&60;&20:"&/20*"5
'?0":[/&-*,$-%/&0%5&"%:$.-%6"%,=&,2";&5$5&%-,&*."5",".6$%"&*-8$+$"/&/4+2&0/&,2"&*4./4$,&-7
60.?",&."7-.6&-.&,2"&8$J".08$Z0,$-%&-7&,2"&6"5$0&0%5&*-8$,$+08&/*0+"(
M;&0%08;/$/&-7&'?0":[/&"0.8;&$%$,$0,$:"/&0%5&/,.0,"#$"/&08/-&2"8*/&"Y*80$%&2-@&2$/&8"05".U
/2$*&+20%#"5&-:".&,2"&+-4./"&-7&,2"&N\\S/(&'?0":&*4./4"5&*-8$+$"/&/4+2&0/&5":-8:$%#&*-8$,$+08
*-@".&,-&,2"&."#$-%08&8"05"./&0%5&*0$%748&"+-%-6$+&."7-.6/&$%&,2"&"0.8;&N\\S/&,20,&48,$60,"8;
+2088"%#"5&2$/&-@%&04,2-.$,;(&h"."&,2"&*.":$-4/&/,45$"/&6"%,$-%"5&0J-:"&2"8*&,-&"Y*80$%&'?0":[/
$%+."0/$%#8;&04,2-.$,0.$0%&,"%5"%+$"/(&o-%"/&`4-%#&/2"5/&8$#2,&-%,-&$6*-.,0%,&+"%,".U."#$-%
,"%/$-%/&0%5&,2"&$%+."0/$%#&*".+"*,$-%&-:".&,2"&N\\S/&,20,&'?0":&@0/&8-/$%#&*-@".&,-&,2"&."U
#$-%/(&M+B8$%+2";&2$#28$#2,/&,2"&$6*-.,0%,&8$%?0#"/&J",@""%&*-8$,$+/&0%5&"+-%-6$+/=&$%&*0.,$+4U
80.&2-@&7-."$#%&0$5&J"+06"&0&."/-4.+"&7-.&,2"&"Y"+4,$:"&,-&60%$*480,"&,2"&8"#$/80,$:"&J.0%+2
J"#$%%$%#&$%&,2"&6$5UN\\S/(&'%5&<-88$%/&$/-80,"/&,2"&$6*-.,0%+"&-7&+80%/&0%5&+80%&*-8$,$+/&$%
+-%/,.0$%$%#&'?0":&0%5&/,.$**$%#&/,0,"&0//",/&J;&,2"&80,"&N\\S/(
'?0":[/&8"05"./2$*&.-8"&$%&-*"%$%#&/-+$",;&0%5&*.-6-,$%#&8$J".08&."7-.6/&20/&205&0
80/,$%#&$6*0+,(&9%8$?"&8"05"./&$%&%"$#2J-.$%#&9ZJ"?$/,0%&0%5&X4.?6"%$/,0%=&@2-&%":".&8$J".08U
$Z"5&,-&,2"&"Y,"%,&,20,&E;.#;Z/,0%&5$5&0%5&."8$"5&-%&+-".+$:"&6"0/4."/&7.-6&,2"&-%/",&-7&,2"$.
.48"=&E;.#;Z/,0%&."60$%/&2-6"&,-&0%&0+,$:"&+$:$8&/-+$",;=&$%+845$%#&-:".&N=SSS&%-%U#-:".%6"%,08
-.#0%$Z0,$-%/&0%5&%46".-4/&@"88U"/,0J8$/2"5&0%5&:$J.0%,&4%$:"./$,$"/&@$,2&,$"/&,-&,2"&9%$,"5
),0,"/=&!4//$0=&0%5&X4.?";(&X2"&#"%".08&8":"8&-7&-*"%%"//&$%&/-+$",;=&@2$8"&+-%/$5".0J8;&+-%U
/,.0$%"5=&$/&60.?"58;&2$#2".&,20%&$%&%"$#2J-.$%#&X4.?6"%$/,0%&0%5&9ZJ"?$/,0%=&@2$+2&.0%?
06-%#&,2"&NQ&+-4%,.$"/&/$%#8"5&-4,&0/&,2"&6-/,&."*."//$:"&."#$6"/&$%&RSSO&0/&."*-.,"5&J;&W.""U
5-6&h-4/"(&E;.#;Z/,0%&$/&%-,$+"0J8;&0J/"%,&7.-6&,2$/&8$/,(&NSS&h-@&,2"&+-4%,.;[/&,.0]"+,-.;
":-8:"5&-:".&,2"&N\\S/=&0%5&@2;&+-%,"6*-.0.;&E;.#;Z/,0%&J-,2&."/"6J8"/&$,/&6-."&04,2-.$,0.U
$0%&%"$#2J-./&;",&08/-&5$77"./&/$#%$7$+0%,8;&7.-6&,2"6=&$/&$6*-//$J8"&,-&"Y*80$%&+-%:$%+$%#8;
@$,2-4,&."7"."%+"&,-&,2"&8"05"./2$*&.-8"&*80;"5&J;&'?0":(
OS
"#$%&
N&F&5"7$%"&<"%,.08&'/$0&0/&,2"&."#$-%&$%+845$%#&,2"&7$:"&7-.6".&<"%,.08&'/$0%&!"*4J8$+/&-7&,2"&)-:$",9%$-%=&'7#20%$/,0%&0%5&@"/,".%&<2$%0(&X2$/&+-.."/*-%5/&,-&,2"&2$/,-.$+&4%5"./,0%5$%#&-7&<"%,.08&'/$0=/-6",$6"/&,".6"5&08/-&H<"%,.08&D4.0/$0(KR&'&+0/"&/,45;&$/&]4/,$7$"5&$%&,2$/&$%/,0%+"&J"+04/"&,2"&E;.#;Z&!"*4J8$+&@0/&:$"@"5&54.$%#&,2"&)-:$",*".$-5&0/&-%"&-7&,2"&6-/,&*-8$,$+088;&+-%/".:0,$:"&0%5&[email protected]&-7&088&,2"&."*4J8$+/&0%5&,2"."7-."&8"0/,8$?"8;&,-&."7-.6(&F,&,2"."7-."&b408$7$"/&0/&0&H5":$0%,&+0/"(K&'/&`$]*20.,&"Y*80$%/A&Hm3":$0%,&+0/"&/,45$"/n0."&/"8"+,"5&,-&.":"08&@2;&,2"&+0/"/&0."&5":$0%,f,20,&$/&,-&4%+-:".&,2"&."8":0%,&055$,$-%08&:0.$0J8"/&,20,@"."&%-,&+-%/$5"."5&*.":$-4/8;=&-.&,-&."7$%"&,2"&L-*".0,$-%08T&5"7$%$,$-%/&-7&/-6"&-.&088&-7&,2"&:0.$0J8"/KL'."%5&`$]*20.,=&H<-6*0.0,$:"&1-8$,$+/&0%5&,2"&<-6*0.0,$:"&M",2-5=K&K7"&'0".$+4%&C->$,$+4>&)+$"%+"!"9$"A=&j-8(&QV=&I-(&O(&L)"*,(&N\aNT=&**(&Q_RPQ\OT(&)""&08/-&h0..;&D+?/,"$%=&H<0/"&),45;&0%5&X2"-.;&$%1-8$,$+08&)+$"%+"=K&$%&B.""%/,"$%&0%5&1-8/J;=&"5/=&L4%3=--B&-2&C->$,$+4>&)+$"%+"&L!"05$%#=&M'A'55$/-%UC"/8";=&N\aOT(&'++-.5$%#&,-&D+?/,"$%=&E;.#;Z/,0%&@-485&J"&0&H8"0/,U8$?"8;K&+0/"&L/""&**(&NN_PNRST(O&B"-.#"&C(&>."/804".=&M-.=4+7"9&4%3&N">,1$%&'1&O"43".1&L<06J.$5#"=&9EA&<06J.$5#"&9%$:"./$,;&1."//=RSSRT&*(&O(e&F6*8$+$,&$%&,2$/&5"7$%$,$-%&$/&,20,&04,2-.$,;&5"60%5/&-J"5$"%+"&-7&0&*0.,$+480.&*-*480,$-%&-.&#.-4*(&)""HC20,&$/&'4,2-.$,;=K&L<20*,".&OT=&$%&h0%%02&'."%5,=&P",A""%&C41,&4%3&Q:,:."R&S$#7,&SJ".+$1"1&$%C->$,$+4>&K7-:#7,&LI"@&k-.?A&1"%#4$%&>--?/=&N\a_T(V&M"8$/&D/2$6?0%-:&",&08(=&'(&'B4<"9R&K7"&Q$.1,&C."1$3"%,&-2&/%3"*"%3"%,&;<.#<51,4%6T&E;.#;Z/,0%=N\\V(Q&'?0":[/&6-,$:0,$-%/&7-.&]-$%$%#&,2"&<-664%$/,&10.,;&."60$%&+-%,.-:"./$08(&I46".-4/&04,2-./&/4##"/,,20,&'?0":[/&80,"&"%,.;&$%,-&*-8$,$+/&/$#%$7$"/&,20,&2$/&."0/-%/&7-.&]-$%$%#&@"."&*"./-%08=&."80,$%#&,-&+0."".05:0%+"6"%,&.0,2".&,20%&$5"-8-#$+08&+-%/$5".0,$-%/(&)""&B."#-.;&B8"0/-%=&K7"&F"%,.4>&'1$4%&),4,"1RE$1+-9".$%#&/%3"*"%3"%+"&L>-485".=&<^A&C"/,:$"@&1."//=&N\\aT&*(&\V(a&D4#"%"&h4/?";=&H'?0":=&'/?0.=K&$%&o-/"*2&`(&C$"+Z;%/?$=&"5(=&K7"&M-.=4+7"9&S%+<+>-*"3$4RM-.=4+7"9R&,7"&U4%&4%3&L$1&K$0"1&L)08,&`0?"&<$,;A&<20.8"/&)+280+?/=&o.(=&14J8$/2".=&N\\OT&*(&ON(_&E0,28""%&<-88$%/=&F>4%16&C4+,16&4%3&C->$,$+1R&V%3".1,4%3$%#&!"#$0"&K.4%1$,$-%&$%&F"%,.4>&'1$4&L3-+U,-.08&3$//".,0,$-%A&),0%7-.5&9%$:"./$,;=&3"+"6J".&N\\\T&*(&N_N(\&h4/?";&$%&C$"+Z;%/?$=&"5(=&*(&ON(NS&D4#"%"&h4/?";=&HE;.#;Z/,0%A&X2"&W0,"&-7&1-8$,$+08&`$J".08$Z0,$-%=K&$%&30@$/20&0%5&10..-,,=&"5/(=F-%2>$+,6&F>"494#"6&4%3&F74%#"&$%&F"%,.4>&'1$4&4%3&,7"&F4:+41:1&L<06J.$5#"=&9EA&<06J.$5#"&9%$:".U/$,;&1."//=&N\\aT&**(&RVNPO(NN&h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o-%"/&`4-%#=&/%1,$,:,$-%4>&F74%#"&4%3&C->$,$+4>F-%,$%:$,<&$%&C-1,8)-9$",&F"%,.4>&'1$4R&C-A".6&C".+"*,$-%16&4%3&C4+,16&L<06J.$5#"=&9EA&<06J.$5#"
ON
9%$:"./$,;&1."//=&RSSRT&<20*,".&O(&`4-%#&0.#4"/&,20,&)-:$",&$%/,$,4,$-%08&/,.4+,4."/&5$6$%$/2"5&,.05$,$-%08,.$J08&0%5&+80%&5$:$/$-%/&@$,2$%&,2"&+-4%,.;(&'%-,2".&/+2-80.=&E0,28""%&<-88$%/=&0.#4"/&$%&2".&5-+,-.085$//".,0,$-%&+$,"5&0J-:"&$%&W--,%-,"&\&,20,&)-:$",&$%/,$,4,$-%/&$%&70+,&."$%7-.+"5&*.""Y$/,$%#&+80%&%",@-.?/=@2$+2&20:"&.""6".#"5&@$,2&,2"&+-880*/"&-7&,2"&)-:$",&9%$-%(&F,&$/&J";-%5&,2"&/+-*"&-7&,2$/&*0*".&,-0//"//&,2"&:08$5$,;&-7&"0+2&0.#46"%,=&0/&$,&@-485&"%,0$8&0/?$%#&b4"/,$-%/&0J-4,&,2"&/,.4+,4."&-7&E;.#;Z/-+$",;&*.$-.&,-&)-:$",&.48"=&,2"&*."+$/"&)-:$",&$%/,$,4,$-%08&8"#0+;&0/&*".,0$%/&*0,.-%0#"=&,.$J08&0%5&+80%#.-4*$%#/=&0%5&,2"&6"+20%$/6&,2.-4#2&@2$+2&+80%&%",@-.?/&.""6".#"5&L$7&,2";&$%5""5&5$5T(&W-.&,2"*4.*-/"/&-7&,2$/&*0*".=&F&."+-#%$Z"&,2"&#"%".088;&4%5$/*4,"5&."#$-%08&5$:$/$-%/&J",@""%&,2"&%-.,2&0%5/-4,2&-7&,2"&+-4%,.;&0%5&,2"&/4J5$:$/$-%/&@$,2$%&,2"&%-.,2&-7&,2"&+-4%,.;(&F&4%5"./,0%5&'?0":&,-&J"$%784"%+"5&J;&@20,&F&,".6&H/-+$08&%",@-.?/=K&@2$+2&$%+845"&."80,$-%/2$*/&@$,2&0&:0.$",;&-7&#.-4*/&J0/"506-%#&-,2"./&-%&*0,.-%0#"=&+80%=&-.&*.-7"//$-%08&J0+?#.-4%5(NO&)""&D.$+&M+B8$%+2";=&C4<$%#&2-.&C4,.-%4#"R&!"#$0"&F74%#"&$%&C-1,8)-9$",&F"%,.4>&'1$4&L3-+,-.083$//".,0,$-%=&1.$%+",-%&9%$:"./$,;=&RSSOT&7-.&5",0$8/&-%&#.-4*/&/4+2&0/&W1784$04#<&0%5&'3->4,=&**(&NNNPNNO(Ne&>.-@%=&>"//=&H)$#%/&-7&X"%/$-%&$%&W.4%Z"=K&!"*-.,&-%&,7"&V))!=&:-8(&R=&%-(&_=&W"J.40.;&RO=&N\\S=&**(N_PN\&0%5&D4#"%"&h4/?";=&HX2"&!$/"&-7&<-%,"/,"5&1-8$,$+/&$%&<"%,.08&'/$0A&D8"+,$-%/&$%&E;.#;Z/,0%=N\_\PN\\S=K&D4.-*"U'/$0&),45$"/=&:-8(&ea=&%-(&V=&o48;&N\\V=&**(&_NaP_N_(&M0/08$":&088$"5&2$6/"87+8-/"8;&@$,2&D#-.&`$#0+2":=&0&+-%/".:0,$:"&1-8$,J4.-&6"6J".&$%&M-/+-@(&`$#0+2":&J"+06"&$%+."0/$%#8;08$"%0,"5&J;&B-.J0+2":[/&*0,2&-7&."7-.6=&0%5&@0/&48,$60,"8;&5$/6$//"5&J;&B-.J0+2":&$%&o48;&N\\S(NV&)""&X(&!0Z0?-:=&W17B$"&1-=<,$"&L>$/2?"?=&E;.#;Z/,0%A&!"%0$//0%+"=&N\\OT&0/&+$,"5&$%&M+B8$%+2";(M+B8$%+2";&%-,"/&,20,=&0++-.5$%#&,-&,2"&N\_\&)-:$",&+"%/4/=&9ZJ"?/&+-%/,$,4,"5&RQc&-7&,2"&^/2&-J80/,*-*480,$-%&0%5&+-%,.-88"5&_ec&-7&088&.",0$8=&;",&,2";&2"85&-%8;&NNc&-7&088&5"*4,;&/"0,/&$%&,2"&^/2&-J80/,+$,;&0%5&."#$-%08&/-:$",/(&)""&*(&NNN(NQ&D4#"%"&h4/?";=&HE;.#;Z/,0%A&X2"&1-8$,$+/&-7&3"6-#.0*2$+&0%5&D+-%-6$+&W.4/,.0,$-%=K&$%&>."66".0%5&X0.0/=&"5/(=&X"A&),4,"16&X"A&X4,$-%1R&P:$>3$%#&,7"&C-1,8)-9$",&X4,$-%1&L<06J.$5#"=&9EA&<06J.$5#"9%$:"./$,;&1."//=&N\\aT&**(&QQSPQQR(Na&F:.."%,&E$#"1,&-2&,7"&)-9$",&C."11=&:-8(&G`FF=&%-(&RV=&N\\S=&*(&Ne(N_&)""&M+B8$%+2";&7-.&055$,$-%08&5",0$8/&-%&,2"&"8"+,$-%&*.-+"//=&**(&NNOPNNV(&'?0":&@0/&"8"+,"5&@$,2Na\&:-,"/=&H,2.""&:-,"/&6-."&,20%&,2"&6$%$646&."b4$."5&0%5&-%8;&"$#2,&:-,"/&6-."&,20%&M0/08$":[/8-/$%#&,088;&-7&NaN(KN\&HE$.#2$Z$0[/&'?0":&F%,".:$"@"5&-%&W4,4."&B-08/=K&C.4934=&I-:"6J".&R=&N\\S&0/&."*-.,"5&J;&W>F)=I-:"6J".&Q=&N\\S&LW>F)U)^jU\SURNVT(RS&E(&>0;08$%-:&$%&;-01-0->1B4<4&C.4934=&7.-6&^+,-J".&OS=&N\\S&0/&."*-.,"5&J;&W>F)=&HI"@&E$.#2$Z1."/$5"%,&'?0;":&F%,".:$"@"5=K&7.-6&I-:"6J".&V=&N\\S&LW>F)U)^jU\SURNeT(RN&HE$.#2$Z$0[/&'?0":&F%,".:$"@"5&-%&W4,4."&B-08/=K&C.4934=&I-:"6J".&R=&N\\S&0/&."*-.,"5&J;&W>F)&-%I-:"6J".&Q=&N\\S&LW>F)U)^jU\SURNVTg&M"8$/&D/2$6?0%-:&",&08(=&*(&OR(RR&>"//&>.-@%=&!"*-.,&-%&,7"&V))!=&:-8(&O=&%-(&NQ=&'*.$8&N\=&N\\N=&**(&NRPNVRO&H1."/$5"%,[/&W$./,&3"+.""=K&/59"1,$4=&0/&."*-.,"5&J;&W>F)=&I-:"6J".&e=&N\\S(Re&>"//&>.-@%=&!"*-.,&-%&,7"&V))!=&:-8(&R=&%-(&e_=&I-:"6J".&OS=&N\\S=&**(&NaPRS(RV&HF%,".:$"@&C$,2&E;.#;Z&1."/$5"%,&-%&1-8$+$"/=K&U-1+-A&F"%,.4>&K">"9$1$-%&Q$.1,&C.-#.40&X",A-.B=&0/."*-.,"5&J;&W>F)&-%&o48;&R=&N\\N&LW>F)U)^jU\NUNRaT(
OR
RQ&H1."/$5"%,&3"8$:"./&E";%-,"&)*""+2=K&K4116&Q.:%5"=&0/&."*-.,"5&J;&W>F)=&^+,-J".&OS=&N\\S(Ra&[email protected]&C(&C08?".=&E$11->:,$-%R&)-9"."$#%,<&4%3&,7"&P."4B:*&-2&,7"&)-9$",&V%$-%&LI"@&k-.?A&!-@60%q&`$,,8"7$"85&14J8$/2"./=&F%+(=&RSSOT&*(&a(R_&C08?".=&**(&a\P_S(R\&h4/?";&$%&30@$/20=&*(&RVO(OS&>"//&>.-@%=&!"*-.,&-%&,7"&V))!=&:-8(&O=&%-(&NQ=&'*.$8&N\=&N\\N=&**(&NRPNV&0%5&/""&08/-&B8"0/-%=&*(&QS(ON&'?0":&/,0,"5&,20,&E;.#;Z/,0%&Hi&+-%/$5"./&0&74%506"%,08&.":$/$-%&-7&,2"&m9%$-%n&,."0,;[/&,"Y,&$/%""5"5=&/-&0/&,-&/,."%#,2"%&,2"&*-@"./&0%5&$%,"."/,/&-7&4%$-%&."*4J8$+/&$%&0&5"+$/$:"&@0;(K&'4#4/,&RQ=N\\N&0/&."*-.,"5&J;&,2"&>><&)4660.;&-7&C-.85&>.-05+0/,/=&H)*""+2&J;&'?0":=K&'4#4/,&R\=&N\\N(OR&F:.."%,&E$#"1,&-2&,7"&)-9$",&C."11=&:-8(&G`FFF=&%-(&OO=&N\\N=&**(&RVPRQ&0%5&F:.."%,&E$#"1,&-2&,7"&)-9$",C."11=&:-8(&G`FFF=&%-(&Oe=&N\\N=&*(&e_(OO&h4/?";=&$%&C$"+Z%;/?$=&"5(=&**(&OSPOe(Oe&D/2$6?0%-:&",&08=&*(&NS_(OV&<-88$%/=&*(&R_O(OQ&'++-.5$%#&,-&,2"&N\_\&)-:$",&+"%/4/=&!4//$0%/&+-6*.$/"5&-:".&RSc&-7&,2"&*-*480,$-%&0%5&9ZJ"?/&-:".NRc(Oa&h4/?";&$%&<466$%#/=&*(&aa(&)""&08/-&o-%"/&`4-%#=&**(&NNN&0%5&NN\&-%&2-@&'?0":&/-8$+$,"5&*0.,$"/&0%5/-+$08&-.#0%$Z0,$-%/&7-.&*-8$+;U60?$%#&05:$+"(O_&o-%"/&`4-%#=&*(&N\\(O\&h4/?";&$%&X0.0/=&**(&QQRPQQO(eS&o-%"/&`4-%#=&*(&NRS(&F,&$/&4%+8"0.=&2-@":".=&@2",2".&,2"&5"+8$%"&$%&"6$#.0,$-%&@0/&0&."/48,&-7&,2"/"*-8$+$"/&-.&54"&,-&,2"&70+,&,20,&,2-/"&@2-&+-485&077-.5&,-&"6$#.0,"&5$5&/-=&8"0:$%#&,2-/"&@2-&+-485&%-,077-.5&,-&5-&/-(eN&HE$.#2$Z$0[/&'?0":&F%,".:$"@"5&-%&W4,4."&B-08/=K&C.4934=&I-:"6J".&R=&N\\S&0/&."*-.,"5&J;&W>F)=I-:"6J".&Q=&N\\S&LW>F)U)^jU\SURNVT(eR&o-2%&'%5"./-%=&;<.#<51,4%R&F"%,.4>&'1$4Y1&/1>4%3&-2&E"0-+.4+<Z&L'6/,".506A&h0.@--5&'+05"6$+14J8$/2"./=&N\\\T&+20*,".&R(eO&D4#"%"&h4/?";=&HI0,$-%08&F5"%,$,;&W.-6&)+.0,+2A&E;.#;Z/,0%[/&!-8"&$%&C-.85&'770$./=K&3.07,&10*".=I-:"6J".&RQ=&RSSS(ee&H1."/$5"%,&<-66"%,/&-%&!"7-.6&1.-#.06=&W4,4."=K&E4#"%1&L<7",".=&M0.+2&RS=&N\\R&0/&."*-.,"5&J;W>F)=&M0.+2&RV=&N\\R&LW>F)U)^jU\RUSV_T(eV&H1."/$5"%,&'?0;":&<.$,$+$Z"/&!4//-+"%,.$+&1."//=K&/59"1,$<4=&M0.+2&RO=&N\\R&0/&."*-.,"5&J;&W>F)=M0.+2&RV=&N\\R&LW>F)U)^jU\RUSV_T(eQ&HE$.#2$Z&1."/$5"%,&,-&7-+4/&-%&D,2%$+&1"0+"=K&/59"1,$<46&I-:"6J".&Ne=&N\\S&0/&."*-.,"5&J;&W>F)=I-:"6J".&NV=&N\\S&LW>F)U)^jU\SURRNT(ea&H1."/$5"%,&'?0;":&F%,".:$"@"5&-%&M-/+-@&j$/$,=K&U-1+-A&!:11$4%&K[&X",A-.B=&M0;&R_=&N\\R&0/."*-.,"5&J;&W>F)=&o4%"&O=&N\\R&LW>F)U)^jU\RUNSaT(
OO
e_&B."#-.;&B8"0/-%=&K7"&F"%,.4>&'1$4%&),4,"1R&E$1+-9".$%#&/%3"*"%3"%+"&L>-485".=&<^A&C"/,:$"@&1."//=N\\aT&*(&\V(e\&o-%"/&`4-%#=&*(&NNe(&)""&08/-&C$88$06&X-.5-77=&H`-+08&B-:".%6"%,&$%&E;.#2;Z/,0%=K&C:=>$+&'30$%$18,.4,$-%&4%3&E"9">-*0"%,=&j-8(&NV=&N\\V=&**(&e\VPVSV(&X-.5-77&%-,"/&0&N\\V&/*""+2&J;&'?0":&$%&@2$+2&2"/,0,"5&,20,&,2"&8-+08&056$%$/,.0,$-%&m#-:".%-./n=&@-.?$%#&@$,2&,2"&8-+08&/"87U#-:".%6"%,=&/2-485&J"+-6",2"&H7--,2-85&-7&,2"&/,0,"&0%5&,2"&60$%&8":"8&-7&."7-.6(KVS&'%5"./-%=&**(&aVPaQ(VN&F:.."%,&E$#"1,&-2&,7"&)-9$",&C."11=&:-8(&G`FFF=&%-(&OO=&N\\N(&**(&RVPRQ(VR&H1."/$5"%,&'?0;":&F%,".:$"@"5&-%&l`$:"&3$08-#4"=[K&M0;&Re=&N\\R&0/&."*-.,"5&J;&W>F)=&M0;&R\=&N\\RLW>F)U)^jU\RUNSeT(VO&H1."/$5"%,&'?0;":&3$/+4//"/&)$,40,$-%&$%&E;.#;Z/,0%=K&W1,4%B$%-&F74%%">&\&K[=&I-:"6J".&RO=&N\\R0/&."*-.,"5&J;&>><&)4660.;&-7&C-.85&>.-05+0/,/=&3"+"6J".&O=&N\\R(Ve&'/?0.&'?0":=&;<.#7<51,4%&-%&,7"&D4<&,-&C.-#."11&4%3&E"0-+.4+<&L>$/2?"?=&N\\VT&*(&ea(&)""&08/-o-%"/&`4-%#=&*(&NNV(VV&M0.,20&>.$88&^8+-,,=&H<"."6-%;&0%5&)4J/,0%+"A&X2"&F884/$-%&-7&9%$,;&$%&<"%,.08&'/$0=K&$%&M$+20"8M0%5"8J046=&"5(=&F"%,.4>&'1$4&4%3&,7"&D-.>3&LI"@&k-.?A&<-4%+$8&-%&W-."$#%&!"80,$-%/=&N\\eT&**(&O\Pee(VQ&o-%"/&`4-%#=&*(&NS_(Va&I$?-80$&'%5."":=&P:>>",$%&-2&,7"&',-0$+&)+$"%,$1,1=&:-8(&VS=&%-(&N=&o0%40.;UW"J.40.;&N\\e=&**(&VRPVe(V_&<-88$%/=&**(&RQaP_(V\&B8"0/-%=&*(&\_(QS&h4/?";&$%&30@$/20=&*(&RVa(&h4/?";&0.#4"/&,20,&$,&@0/&,2"&/*"0?".[/&-@%&J"8$"7&$%&,2"&$6*-.,0%+"&-70:-$5$%#&-*"%&*-8$,$+08&+-%78$+,&,20,&8"5&2$6&,-&/$5"&@$,2&'?0":(QN&)""&o-%"/&`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o-%"/&`4-%#=&H'7,".&,2"&J."0?U4*A&F%/,$,4,$-%08&5"/$#%&$%&,.0%/$,$-%08&/,0,"/=K&F-0*4.4,$9"C->$,$+4>&),:3$"16&j-8(&OO=&F//4"&V=&o4%"&RSSS=&**(&VQOPV\R(&C2$8"&o-%"/U`4-%#&/""/&,2"&-4,+-6"&-7&,2"J0.#0$%&0/&0&:$+,-.;&7-.&,2"&."#$-%08&8"05"./=&M+B8$%+2";&20/&$%,".*.","5&,2"&"8"+,$-%&80@&0/&H4%06J$#4U-4/8;&70:-.$%#&,2"&"Y"+4,$:"(K&C2$8"&2"&0+?%-@8"5#"/&,20,&,2"&"8"+,-.08&80@&$%+."0/"5&."#$-%08&."*."/"%U,0,$-%=&2"&0.#4"/&,20,&,2"&."7-.6&,-&,2"&4**".&+206J".&$%+."0/"5&,2"&"Y"+4,$:"[/&$%784"%+"&-:".&,2"*0.8$06"%,(&M0%;&-7&,2"/"&/"0,/&@"."&7$88"5&J;&088$"/&-7&,2"&056$%$/,.0,$-%(&)""&M+B8$%+2";=&**(&NaVPa\(QR&)""&M+B8$%+2";=&**(&NO_PNeS(QO&<-88$%/&5$//".,0,$-%=&*(&OeV=&0%5&o-%"/&`4-%#=&*(&NVQ(
Oe
Qe&B8"0/-%=&*(&\\g&h4/?";&$%&30@$/20=&**(&RVaP\(&'?0":&5$5&,2$/&J;&+-%:$%+$%#&0&80.#"&#.-4*&-7&*0.8$0U6"%,0.$0%/&,-&J-;+-,,&,2"&-*"%$%#&/"//$-%&-7&*0.8$06"%,&$%&)"*,"6J".&$%&.",4.%&7-.&8""@0;&$%&.4%%$%#,2"$.&-@%&."#$-%/(&X2$/&+04/"5&0&80+?&-7&b4-.46=&@2$+2&088-@"5&,2"&*."/$5"%,&,-&5$/6$//&*0.8$06"%,&0%5+088&%"@&"8"+,$-%/(&)""&08/-&M+B8$%+2";=&**(&NaePNa_(QV&<-88$%/=&*(&Oea(QQ&h4/?";&$%&30@$/20=&**(&RQQPRQa(&M0/08$":=&08,2-4#2&5$/+."5$,"5&7.-6&2$/&"0.8$".&*-8$,$+08&6$/20*/=@-%&80.#"&*".+"%,0#"/&$%&^/2&0%5&o08080J05&$%&,2"&/-4,2(&'?0":&@-%&\Sc&-7&,2"&%-.,2=&0%5&5"/*$,"&,2"2-..$J8"&"+-%-6$+&+-%5$,$-%/&$%&,2"&/-4,2=&QNc&0%5&VSc&$%&o08080J05&0%5&^/2=&."/*"+,$:"8;(Qa&<-88$%/=&**(&OVOPOVV(Q_&h4/?";&$%&<466$%#/=&*(&_O(Q\&M-2$%5".&)(&M45020.=&;<.#<5&!"*:=>$+R&),.4,"#<&2-.&!:.4>&M.-A,7&4%3&C-9".,<&'>>"9$4,$-%=&C-.85>0%?&3$/+4//$-%&10*".=&I-(&R\e=&*(&NRa(&DY06*8"/&-7&,2"/"&5"+."0/"/&$%+845"&@2"0,&J;&RSc=&J0.8";&J;R\c=&+-.%&J;&OOc=&*-,0,-"/&J;&N_c=&0%5&:"#",0J8"/&J;&eNc(&<-.."/*-%5$%#&,-&,2"/"&,."%5/=&,."%5/&$%7--5&$%54/,.;&*.-54+,$-%&L*.-+"//"5&7--5/T&0%5&8$:"/,-+?&*.-54+,$-%=&5"+."0/"5&$%&088&60]-.&+0,"#-.$"/&0/@"88(&)""&**(&ONPOR(aS&M45020.=&*(&NSQ(&DY06*8"/&-7&,2"/"&5"+."0/"/&$%+845"&6"0,&*.-54+,/&J;&R_c=&"##/&J;&a\c=&6$8?*.-54+,/&J;&OSc=&:"#",0J8"/&J;&OQc=&/4#0.&J;&QRc=&0%5&:"#",0J8"&-$8&J;&VVc(&M-."-:".=&@$,2&,2""Y+"*,$-%&-7&7.4$,/&0%5&J"..$"/&,20,&$%+."0/"5&J;&RVc=&+-%/46*,$-%&-7&,2"&-,2".&,@-&60$%&/,0J8"/=&*-,0U,-"/&0%5&J."05&*.-54+,/=&."60$%"5&+-%/,0%,(aN&'8"Y0%5".&<--8";=&HF%,".%0,$-%08&'$5&,-&,2"&W-.6".&)-:$",&),0,"/A&'#"%,/&-7&<20%#"&-.&B40.5$0%&-7&,2"),0,4/&r4-=K&C.-=>"01&-2&C-1,8F-00:%$106&:-8(&ea=&%-(&e=&o48;s'4#4/,&RSSS=&**(&OePee(aR&M+B8$%+2";=&*(&RRNaO&<-88$%/=&**(&OV_POV\(ae&h4/?";&$%&<466$%#/=&*(&_a(aV&<-88$%/=&**(&OQQPOQ_(aQ&'%5"./-%=&*(&V\(aa&HE;.#;Z/,0%[/&'?0;":&-%&'7#20%$/,0%&1"0+"&<-%7"."%+"&F5"0=K&U-1B-91B$<"&X-9-1,$6&'4#4/,&Ne=&N\\a0/&."*-.,"5&J;&W>F)&LW>F)U)^jU\aURRQT&0%5&HE;.#;Z/,0%A&'?0":&0**.-:"/&-7&"+-%-6$+&/"+4.$,;&6"0U/4."/=K&/%,".24J=&)"*,"6J".&NR=&N\\Q=&0/&."*-.,"5&J;&W>F)&LW>F)U)^jU\QUNa\T(a_&)-6"&20:"&/4##"/,"5&,20,&!4//$0%&6$8$,0.;&"%,.0%+"&20/&-++4.."5&0,&0&,$6"&-7&#.-@$%#&5-6"/,$+$%/,0J$8$,;&$%&E;.#;Z/,0%(&F,&@-485&J"&,2"&/4J]"+,&-7&/"*0.0,"&0%08;/$/&,-&$%:"/,$#0,"&2-@&,2"/"&$%+4./$-%/0%5&/4J/"b4"%,&9()(&6$8$,0.;&$%:-8:"6"%,&$%&,2"&."#$-%&20:"&$%784"%+"5&'?0":[/&/,.0,"#$"/(a\&W-4%5"5&-.$#$%088;&$%&N\\Q&0/&,2"&)20%#20$&W$:"&L!4//$0=&<2$%0=&E;.#;Z/,0%=&E0Z0?2/,0%&0%5X0]$?$/,0%T=&,2"&-.#0%$Z0,$-%&@0/&."%06"5&,2"&)20%#20$&<--*".0,$-%&^.#0%$Z0,$-%&$%&o4%"&RSSN&@$,2&,2"055$,$-%&-7&9ZJ"?$/,0%(_S&W-.&0&5",0$8"5&0%08;/$/&-7&,2"/"&":"%,/=&/""&,2"&F%,".%0,$-%08&<.$/$/&B.-4*[/&!"*-.,&HE;.#;Z/,0%[/1-8$,$+08&<.$/$/A&'%&DY$,&),.0,"#;=K&/%,".%4,$-%4>&F.$1$1&M.-:*=&^/2s>.4//"8/=&'4#4/,&RS=&RSSR(_N&H<-%,"%,$-4/&<-%/,$,4,$-%/&!"7"."%546&<06*0$#%&C$%5$%#&3-@%&$%&E;.#;Z/,0%=K&S:.41$4%",6o0%40.;&RS=&RSSO(
OV
_R&H!"7"."%546&!0,+2",/&4*&!0%+-.&$%&E;.#;Z/,0%f1-8$,$+08&'%08;/,/=K&S:.41$4%",=&W"J.40.;&V=&RSSO(_O&M"5".&F60?"":=&HE;.#;Z/,0%A&)-4,2".%&^J80/,/[&'4,-%-6;&X2."0,=K&/DC!&F"%,.4>&'1$46&I-(&NQQ=3"+"6J".&e=&RSSR(_e&W-.&6-."&5",0$8"5&5$/+4//$-%/&-7&5$77"."%,&,2"-.",$+08&0**.-0+2"/=&/""&W$/2&+20*,".&0%5&M+B8$%+2";<20*,".&R(_V&M(&),":"%&W$/2=&HX2"&3;%06$+/&-7&3"6-+.0,$+&D.-/$-%=K&$%&C-1,+-00:%$10&4%3&,7"&K7"-.<&-2&E"0-+8.4+<6&!$+20.5&3(&'%5"./-%&",&08(&L1.$%+",-%A&1.$%+",-%&9%$:"./$,;&1."//=&RSSNT&**(&VaPQQ(_Q&FJ$5=&**(&QQPaV(_a&o"77.";&E-*/,"$%&0%5&30:$5&'(&!"$88;=&HB"-#.0*2$+&3$774/$-%&0%5&,2"&X.0%/7-.60,$-%&-7&,2"1-/,+-664%$/,&C-.85=K&D-.>3&C->$,$+1=&j-8(&VO=&^+,-J".&RSSS=&**(&Re(__&FJ$5=&*(&OO_\&)""&M+B8$%+2";=&*(&eO\S&o-%"/U`4-%#&J--?&0%5&0.,$+8"(\N&o-%"/U`4-%#=&*(&R_(\R&<-88$%/=&5$//".,0,$-%&0%5&0.,$+8"(\O&)""&M+B8$%+2";[/&5$//".,0,$-%(\e&FJ$5=&*(&NN(\V&FJ$5=&*(&VN(\Q&o-%"/&`4-%#=&*(&RaV\a&M+B8$%+2";=&*(&Qa(\_&!4,2&>".$%/&<-88$".&0%5&30:$5&<-88$".=&)74*$%#&,7"&C->$,$+4>&'."%4R&F.$,$+4>&]:%+,:."16&,7"&O4=-.U-9"0"%,6&4%3&,7"&!"#$0"&E<%40$+1&$%&O4,$%&'0".$+4&L1.$%+",-%A&1.$%+",-%&9%$:"./$,;&1."//=&N\\NT(X2";&4/"5&,2"&,".6&H+.$,$+08&]4%+,4."K&,-&"Y*80$%&2-@&`0,$%&'6".$+0%&/,0,"/&0**.-0+2"5&0%5&$%+-.*-.0,"580J-.(\\&B".0.5-&`(&M4%+?=&H>",@""%&X2"-.;&0%5&h$/,-.;&0%5&>";-%5&X.05$,$-%08&'."0&),45$"/=K&!":$"@0.,$+8"&$%&F-0*4.4,$9"&C->$,$+16&:-8(&RV=&%-(&e=&o48;&N\\O=&**(&eaVPe\_(NSS&)""&,2"&RSSO&W.""5-6&h-4/"&!"*-.,&-%&HX2"&C-.85[/&M-/,&!"*."//$:"&!"#$6"/=K2,,*Ass@@@(7.""5-62-4/"(-.#s."/"0.+2s6..RSSO(*57(